The past few days have been pretty interesting for the Bitcoin community, with noticeable price changes being recorded across all major exchanges. After nearly an entire year of flat Bitcoin prices, things started picking up again as of Wednesday evening. After a weekend of downward Bitcoin price manipulation, it looks like things have stabilized just below the US$270 mark.
One of the biggest advancements for Bitcoin in the traditional financial world has been the fact that the world’s first Bitcoin-based security can now be traded on regulated exchanges. And it is exactly this Bitcoin-based security that has been making some headlines in recent times, especially now that it can be traded on Germany’s Tradegate Exchange.
Bitcoin Tracker One – The Exchange Traded Note
In May 2015, major news reached Bitcoin enthusiasts worldwide. Stockholm-based firm XBT Provider – XBT is the “official” abbreviation for Bitcoin – created Bitcoin Tracker One, an Exchange Traded Note (ETN) which can be traded on regular financial exchanges. Traders are able to invest in Bitcoin and access returns of the asset in USD per Bitcoin.
As we reported in an earlier article, the Bitcoin trading volume on LocalBitcoins has seen a massive growth in the previous weeks. At that time, it remained a bit unclear as to why this was happening, considering there has not been any general news on Bitcoin that could warrant such an increase. On top of that, all of the popular Bitcoin exchanges had seen no noteworthy increase in Bitcoin trading volume. Luckily for us, one Reddit user took the time to dig a little deeper.
The world of Bitcoin is primarily dominated by a focus on the current BTC price, preferably depicted in USD value. Even though Bitcoin can be converted to nearly any local currency in the world, the BTC price index is usually valued in USD, as this is still being viewed as the “world currency”. But how does one go about effective Bitcoin price trading? OKCoin and Tradewave will be helping you out in that regard.
Most people are drawn to bitcoin on the promise of being anonymous when using this disruptive digital currency. However, nothing could be further from the truth. Bitcoin is not anonymous in any way, or not in the traditional meaning of the word, anyway. But Bitcoin exchange Kraken is looking to up the ante, as they guarantee anonymous trading for large Bitcoin buyers.
Slowly but surely, Bitcoin is gaining a foothold in South America. Even though countries such as Argentina might be wary – and sometimes even hostile – towards this disruptive digital currency, countries such as Brazil are warming to the idea of using a different currency. With over 500 Bitcoin being traded in the past 24 hours, it looks like things are starting to take off.
Bitcoin in Brazil So Far
Brazil is not often mentioned in the same sentence as Bitcoin, even though it is one of the South American countries that could tremendously benefit from adopting the digital currency. Similar to neighboring countries, Brazil’s financial system has been plagued by an inflationary currency, corruption, greed and multiple monetary interventions from the government.
Bitcoin security remains a matter that is near and dear to all of our hearts. Given the recent string of Bitcoin-related platforms being attacked or hacked – with or without the loss of users’ funds – we need to step up our game. A new partnership between BitGo and TradeBlock is working towards a secure and seamless Bitcoin trading infrastructure.
BitGo: Taking Bitcoin Security To New Levels
With such a disruptive technology as Bitcoin on our hands the possibilities are endless, which also brings a security risk to the table, as we do not understand all aspects of this technology just yet. And it has been proven time and time again that the “standard” security measures are not sufficient to protect Bitcoin wealth, by any means.