If you are looking for a reliable custody service for your digital assets, you may want to check out Bitmarque. Started in 2017, Bitmarque is a different cold storage solution, which is free of any point of failure.The blockchain experts behind this service use military-grade security systems and a secured offline wallet. They have made an attempt to bridge the gap between insurance and cryptocurrencies.As a matter of fact, Bitmarque has introduced real, unique insurance for the deep cold storage, which is a type of consortium for concerned investors.Actually, the beauty of this new service is that it provides peace of mind for investors.As far as cryptocurrency is concerned, the biggest problem that currency holders face is the issue of security. In other words, they are worried about losing their digital money. This is where Bitmarque comes to rescue.The company has its own digital assets, many financial institutes, and offline assets, which is why it’s the only insured custodian service provider for those who have cryptocurrency.let’s take a closer look at this service.What is Bitmarque?As said earlier, Bitmarque is a unique service as it offers an insured custody service for cryptocurrency holders.This service is a pure cold storage solution. It’s a combination of multi-sig approvals and smart contracts with deeper protection methods. This is why this system is insured by a powerful financial consortium. So, it offers a financial consortium that gives your currency a high level of safety and security. Your deposits will be secure. You won’t have to worry about them.How Safe will your Holdings be?The provider uses military-level security protocols, offline systems, and cold storage. For added security, the systems are installed across the globe in secret locations. Moreover, they make use of a number of encrypted firewall layers for the highest degree of protection.Since there are many approval systems, you can rest assured that the digital assets won’t go anywhere, no matter what type of threats there may be. The company employees or top-level management won’t have full access to your assets unless you provide your consent.How does the Service Protect your Digital Assets?If you are worried about the protection of your digital assets, know that the security protocols are as secure as the protocols used by the military. The company has a technological solution that offers a high level of encryption and security protocols. The use of smart contracts and physical vaults located in different secret locations around the globe ensure that your digital assets are always in good hands.Supported Cryptocurrencies You can deposit both Litecoin and Bitcoin, but you can also contact Bitmarque to find out about other currencies. However, they do support other cryptocurrencies.CostIf you want to join the service, you need to pay a one-time registration fee and a small amount of fee per month and the bank transaction fee. For more information, you can contact Bitmarque.Joining without a RecommendationYou can’t join without a recommendation unless you meet certain criteria. It’s better to contact the company to discuss the matter.So, this was a brief review of Bitmarque. Hope this helps.
Cryptocurrency Security: Bitmarque Review
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What Is a Cryptocurrency?
A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to exchange goods and services through a system of electronic transactions without having to go through any intermediary. The first cryptocurrency that started trading was Bitcoin in 2009, and since then many others have emerged, with other features such as Litecoin, Ripple, Dogecoin, and others.What is the advantage?When comparing a cryptocurrency with the money in the ticket, the difference is that:They are decentralized: they are not controlled by the bank, the government and any financial institution
Are Anonymous: your privacy is preserved when making transactions
They’re International: everyone’s opera with them
They are safe: your coins are yours and from nobody else, it is kept in a personal wallet with non-transferable codes that only you know
It has no intermediaries: transactions are carried out from person to person
Quick transactions: to send money to another country they charge interest and often it takes days to confirm; with cryptocurrencies only a few minutes.
Bitcoins and any other virtual currency can be exchanged for any world currency
It can not be faked because they are encrypted with a sophisticated cryptographic system
Unlike currencies, the value of electronic currencies is subject to the oldest rule of the market: supply and demand. “Currently it has a value of more than 1000 dollars and like stocks, this value can go up or down the supply and demand.What is the origin of Bitcoin?Bitcoin, is the first cryptocurrency created by Satoshi Nakamoto in 2009. He decided to launch a new currencyIts peculiarity is that you can only perform operations within the network of networks.Bitcoin refers to both the currency and the protocol and the red P2P on which it relies.So, what is Bitcoin?Bitcoin is a virtual and intangible currency. That is, you can not touch any of its forms as with coins or bills, but you can use it as a means of payment in the same way as these.In some countries you can monetize with an electronic debit card page that make money exchanges with cryptocurrencies like XAPO. In Argentina, for example, we have more than 200 bitcoin terminals.Undoubtedly, what makes Bitcoin different from traditional currencies and other virtual means of payment like Amazon Coins, Action Coins, is decentralization. Bitcoin is not controlled by any government, institution or financial entity, either state or private, such as the euro, controlled by the Central Bank or the Dollar by the Federal Reserve of the United States.In Bitcoin control the real, indirectly by their transactions, users through exchanges P2 P (Point to Point or Point to Point). This structure and the lack of control makes it impossible for any authority to manipulate its value or cause inflation by producing more quantity. Its production and value is based on the law of supply and demand. Another interesting detail in Bitcoin has a limit of 21 million coins, which will be reached in 2030.How much is a Bitcoin worth?As we have pointed out, the value of Bitcoin is based on supply and demand, and is calculated using an algorithm that measures the amount of transactions and transactions with Bitcoin in real time. Currently the price of Bitcoin is 9,300 USD (as of March 11 of 2018), although this value is not much less stable and Bitcoin is classified as the most unstable currency in the foreign exchange market.
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Cryptocurrency’s Rocky Road: China’s ICO Ban
In the wake of China’s ICO ban, what befalls the world of cryptocurrencies?The biggest event in the cryptocurrency world recently was the declaration of the Chinese authorities to shut down the exchanges on which cryptocurrencies are traded. As a result, BTCChina, one of the largest bitcoin exchanges in China, said that it would be ceasing trading activities by the end of September. This news catalysed a sharp sell-off that left bitcoin (and other currencies such as Etherium) plummeting approximately 30% below the record highs that were reached earlier this month.So, the cryptocurrency rollercoaster continues. With bitcoin having increases that surpass quadrupled values from December 2016 to September 2017, some analysts predict that it can cryptocurrencies can recover from the recent falls. Josh Mahoney, a market analyst at IG comments that cryptocurrencies’ “past experience tells us that [they] will likely brush these latest challenges aside”.However, these sentiments don’t come without opposition. Mr Dimon, CEO of JPMorgan Chase, remarked that bitcoin “isn’t going to work” and that it “is a fraud… worse than tulip bulbs (in reference to the Dutch ‘tulip mania’ of the 17th century, recognised as the world’s first speculative bubble)… that will blow up”. He goes to the extent of saying that he would fire employees who were stupid enough to trade in bitcoin.Speculation aside, what is actually going on? Since China’s ICO ban, other world-leading economies are taking a fresh look into how the cryptocurrency world should/ can be regulated in their regions. Rather than banning ICOs, other countries still recognise the technological benefits of crypto-technology, and are looking into controlling the market without completely stifling the growth of the currencies. The big issue for these economies is to figure out how to do this, as the alternative nature of the cryptocurrencies do not allow them to be classified under the policies of traditional investment assets.Some of these countries include Japan, Singapore and the US. These economies seek to establish accounting standards for cryptocurrencies, mainly in order to handle money laundering and fraud, which have been rendered more elusive due to the crypto-technology. Yet, most regulators do recognise that there seems to be no real benefit to completely banning cryptocurrencies due to the economic flows that they carry along. Also, probably because it is practically impossible to shut down the crypto-world for as long as the internet exists. Regulators can only focus on areas where they may be able to exercise some control, which seems to be where cryptocurrencies meet fiat currencies (i.e. the cryptocurrency exchanges).While cryptocurrencies seem to come under more scrutiny as time progresses, such events do benefit some countries like Hong Kong. Since the Chinese ICO ban, many founders of cryptocurrency projects have been driven from the mainland to the city. Aurelian Menant, CEO of Gatecoin, said that the company received “a high number of inquiries from blockchain project founders based in the mainland” and that there has been an observable surge in the number of Chinese clients registering on the platform.Looking slightly further, companies like Nvidia have expressed positivity from the event. They claim that this ICO ban will only fuel their GPU sales, as the ban will likely increase the demand for cryptocurrency-related GPUs. With the ban, the only way to obtain cryptocurrencies mined with GPUs is to mine them with computing power. As such, individuals looking to obtain cryptocurrencies in China now have to obtain more computing power, as opposed to making straight purchases via exchanges. In essence, Nvidia’s sentiments is that this isn’t a downhill spiral for cryptocurrencies; in fact, other industries will receive a boost as well.In light of all the commotion and debate surrounding cryptocurrencies, the integration of the technology into the global economies seem to be materialising hastily. Whether or not you believe in the future of the technology, or think that it is a “fraud… that will blow up”, the cryptocurrency rollercoaster is one worth your attention.
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