Cryptocurrencies use cryptographic protocols or extremely complex coding systems that encrypt sensitive data transfer to ensure their exchange between subjects. The developers of cryptocurrencies create these protocols on advanced mathematic principles and computer engineering and these protected currencies can’t be practically cracked, copied or forged. These protocols also mask the identity of cryptocurrency user, which means the transactions and financial flows are hard to connect to a given individual or group.
You can find the list of shops that accept bitcoin here. Bitcoin is accepted by a wide scale of companies and every day this list grows. The most famous companies that accept Bitcoin: Mictosoft Windows, Steam, KFC Canada, Kodak, Alza, Zynga, Bloomberg, Amazon etc.
It all comes down to your preferences. For somebody its anonymity, for somebody else the price or security. Find a way most suitable for you. You need to remember though, there is a difference between owning a cryptocurrency and owning a derivate for a cryptocurrency.
To own a derivate for a cryptocurrency means that you are speculating about the price development of the cryptocurrency. If you buy the actual cryptocurrency (you own it), you have the possibility to move it to your digital wallet or to pay with it for a service or product. And KryptoTop offers you exactly this possibility. A team of developers and a company that brings added value to people stand behind every cryptocurrency. Therefore, on KryptoTop, you can find cryptocurrencies with a verified history and trusted companies stand behind them.
What determines the selling or buying price of cryptocurrencies? When we compare them to ordinary currencies, like for example the euro or dollar, then this highly sophisticated digital system works diametrically different than the ordinary monetary system. It is controlled by computer and mathematical combinations, not by people, legislative regulations or any institution.
If 1 bitcoin costs 15 thousand or 17 thousand dollars depends on the demand and activity of the social media or if a country decides to integrate in to their legislation, i.e. the ability to pay with it for services or products. Japan is the latest to do so and Russia or India could follow. Imagine the earthquake this integration could make to a massive consumer market.
A lot of people are interested in how the price of cryptocurrencies is calculated. Firstly, we have to remember that the price of cryptocurrencies is determined the same way as other currencies or items. This means, that the price is determined by supply and demand – let’s give an example.
To derive the price of Bitcoin we need to determine 2 things: how many BTC somebody wants to sell and how many another person wants to buy. Let’s give a simple example: if Marek wants to sell 1 BTC for 1000 EUR and Roman is prepared to pay for 1BTC/ 500 EUR; they don’t agree, and a transaction/exchange doesn’t take place. But if they agree on a price acceptable for both, let’s say 750 euros, they agree, and an exchange takes place. And the result is that the value of BTC is 750 EUR. And the whole market with cryptocurrencies works in a similar fashion
We have to take into consideration that currencies like the euro or dollar work the same way – if you’ve got 1 euro in your hand, and in the given moment there are a million people that buy and sell euros, so you can consider the euro a stable currency, but its value constantly changes. When you want to exchange the euro to a different currency in the exchange office, let’s say to the dollar, one day you pay 10 euro for a dollar, next day maybe 11 or 9. Bitcoin and other cryptocurrencies work exactly the same- you can imagine it being euros.
There does not exist a worldwide price for cryptocurrencies. Cryptocurrencies aren’t bond to any other currencies, countries or a platform. When you see the price on Google, it only shows you the international estimated price.
When checking the price of a cryptocurrency, it is important to keep in mind that there doesn’t exist a standard or global price. A cryptocurrency is in no way bond to the USD or other currency, country or any market.
It’s like asking: " Why does the bag of rice cost more in one supermarket in one city or country than the other? Short answer, due to supply and demand.
The price provided by Google and other tools to monitor the price of cryptocurrencies is mostly an average guess or a recent trading price of the given cryptocurrency on some international markets. Google uses the API Coinbase interface, which provides an estimated price in dollars without fees.
Even if you would have an American dollar account on Coinbase, the price you pay in the end for an individual cryptocurrency will vary from the price Google states because of fees and a lot of other factors.
By giving away all our features, we would just help the hackers. But when we say that your cryptocurrencies are safe, we mean it seriously. Our security consists of advanced elements like 2phase verification, ensured email system with PGP/GPG, lockup of global settings and more. Primarily, we keep all cryptocurrencies that are not being traded or sent to addresses, in a “cold” wallet that is completely isolated from whatever online system, which means it is not possible to attack it or “steal it.”
Most cryptocurrencies have fixed supplies and their source code specifies, who many units can exist. Thanks to this feature, the cryptocurrencies remind us of expensive metals than traditional money. Due to this fact, cryptocurrencies can offer protection against inflation that conventional worldwide currencies can never guarantee.
Digital currencies offer reliable funds away from the control of national banks, like the American Federal Reserve Bank or the European Central Bank. This is mainly interesting for people afraid of quantitative loosening (printed money of central banks for the purchase of state bonds) and other forms of free currency politics, like for example almost zero interest rate in interbank credit granting, can lead to long term economical instability. From a long-term point of view, a lot of economists and political scientists expect that global governments will copy cryptocurrencies or at least integrate certain aspects (for example a fixed amount of currency supply or authentication protocols) to conventional currencies. This could potentially satisfy the concerns of some defenders of cryptocurrencies about the inflationary nature of traditional money and the inherent uncertainty of physical cash.
Mining is a built-in control mechanism for cryptocurrencies. Because miners are rewarded for their work, they have their own financial interest to keep exact and up-to-date records of transactions. This way they ensure the integrity of the system and currency value.
The protection of personal data and anonymity were the main problems of the first supporters of cryptocurrencies and remained to this day. A lot of cryptocurrency users create their own pseudonyms that don’t relate to information, accounts or other saved data that could identify them. Sophisticated community users can derive the identity of users but new cryptocurrencies (that came after Bitcoin) have additional means of security that make identification even harder.
When the citizens of repressive countries get into conflict with their governments, they can easily freeze or get rid of their bank accounts and cancel transactions in the local currency. This is not possible using a digital currency, because their decentralisation ( financial and transactional records are kept on many places around the world) effectively inhibit the removal from the state. Simply said, using cryptocurrencies is like having access to a theoretic unlimited number of offshore bank accounts.
Concepts of block keys, private keys and wallets effectively deal with the problem of dual issuing, which ensures that new cryptocurrencies won’t be abused by technically advanced fraudsters able to duplicate digital financial means. Security functions of digital currencies also eliminate the need to process of payment transaction by third parties (bank, Visa, PayPal, etc.), which verify and check every financial transaction. This eliminates the need of mandatory fees for transactions (for the work of payment processors), because miners gain units of cryptocurrency or optional transactional fees for their work. The fees for the transaction of digital currencies are often lower than 1% for an average transaction. For comparison, for payment cards and PayPal it’s 1,5% to 3%.
When paying with a digital currency, it doesn’t matter, if it’s a national or international transaction. Transactions are free or have a nominal fee regardless of where the sender or receiver is located. It’s a great advantage in comparison to international transactions of conventional currencies, where you almost always have to pay special fees. These fees don’t apply to home payments. Direct international money transactions can be very expensive, and the fees can exceed 10% to 15% of the referred amount.
Every cryptocurrency is dividable, which means you can buy it “just for a try” or for a long-term investment. Same as all other currencies (euro/dollar) can be divided into cents , 1 BTC can be divided into smaller amounts, up to 8 decimal points: 0.00000001 BTC. That’s the smallest fraction of Bitcoin, also known as " satoshi ", named after the person or group of people that created Bitcoin. There are 100 000 000 (100 milion) satoshi in a Bitcoin. KryptoTop exchange gives you the ability to choose the amount in euros you want to buy a cryptocurrency for and then it offers an equivalent amount of the cryptocurrency that you get for exchange of your euros. For example, if 1BTC costs 1000 euros and you only have 500 euros to purchase, you’ll get 0,50 BTC.
If you want to realize a quick purchase, in the buy section you can choose your cryptocurrency, the amount in euros you want to buy the cryptocurrency for, fill in the data, payment option and confirm the order.
If you want to save money, register to KryptoTop Premium. After registration, you can gain access to benefits like a cheaper purchase price, portfolio overview and lots more. You can read more about KryptoTop Premium HERE.
A professional trader on the market with cryptocurrencies does a thorough analysis every day. When trading, he follows his trading plan. He knows how and where to enter the market and how and where to step out and manages his trades the whole time. A professional trader keeps thorough records (trade dairy), where he notes every trade and its details. On this basis, he improves his trading and looks for new ways on how to improve his trading. So, this is definitely not a fast and easy profit. A much easier way is the regular purchase of the chosen cryptocurrency.
Certainly yes. Cryptocurrencies have caused a real boom. More and more people invest in them. Individual states are joining too. A flow of new money causes exceptional growth. If you have jumped onto the cryptocurrency train this month, you’ll probably be in the plus amounts. Another benefit is regular purchasing of cryptocurrencies, where you don’t have to worry about the market going up or down.
A regular purchase mean to regularly purchase a given cryptocurrency or portfolio. Due to the price irregularity of cryptocurrencies, their price is averaged, because you buy not only when prices are high but also low. This way it’s possible to make money on cryptocurrency value deviations and buy for an averaged lower price than opposed to one-time investors. For better understanding, let’s give a model situation. Let’s assume, that the value of a cryptocurrency in January will be 100€, in February 50€, in March 25€ and in April it goes back to 100€. During a one-time purchase in January you will buy a cryptocurrency in a value of 300€ and by the first of April you will have an asset of 300€. But if you purchase regularly, you always pay the current price, which in our case means that for the same amount 300€ (but continuously invested), you will have an asset of 700€.
The minimum price to buy a cryptocurrency fraction is 50€. We are intensively working on system automatization so that the minimum price is the smallest possible. If you register for free to KryptoTop Premium, the minimum purchase price is 30 €.
The purchase of cryptocurrencies is instant. Due to safety reasons, we send cryptocurrencies manually. We send cryptocurrencies to wallets always from 8:00 to 20:00.
Yes you can, but only the cryptocurrency you bought using KryptoTop and you can see in KryptoTop Premium. We are intensively working on the possibility to add a cryptocurrency to KryptoTop Premium and then to have the possibility to trade. We believe this is a matter of a few weeks.
Of course, but only to the time until the payment gate informs you about your purchase. As soon as we receive your payment, we realize the transaction.
For better understanding, let’s give an example :
The fee in the blockchain network is stated per transaction, not a % from the amount of the sent cryptocurrency.
1.Martin buys Bitcoin for 100 EUR. At the value of 10 000 EUR/BTC , the customer bought 0,01 BTC. Martin sends his BTC to his wallet and this way he pays the transaction fee in the blockchain network. The fee is 0,001 BTC ( which is 10 EUR ). This way Martin lost 10% value of his investment.
2.Martin wants to sell his BTC. He sends them from his wallet to the market. Again, he pays a fee of 0.001 BTC. In other words, if Martin buys Bitcoin for a 100 EUR and sends it from a back to the market, he loses 20 EUR, which is 20% of his investment.
The fee of 0.001 BTC ( 10 EUROS ) is a model example – at the beginning of 2017, the fee was 5 EUROS, at the end of 2017, the fee was 25 EUROS.
If we summarise it, to keep your cryptocurrencies in your client cabinet is not only safe and easy, but you also save money on transaction fees.
All fees connected to the conversion of EUR is the KryptoTop company responsibility.
The fees in the blockchain network is the responsibility of the buyer/client.
The fees for the transaction fall to the blockchain network, i.e. “miners” of the given cryptocurrency.
The spread in the KryptoTop Premium client cabinet is variable and changes according to the historical amount of your turnover. The spread is linked to one order.
The spread is changed accordingly (valid from 24.12.2018):
| Spread | Your profit |
|---|---|
| 4% | 0 - 15000€ |
| 3.5% | 15000 - 25000€ |
| 3% | 25000 - 70000€ |
| 2.5% | 70000 - ∞€ |
In the beginning, when creating KryptoTop, we didn’t want to be a regular exchange office for cryptocurrencies. We thought about the added value we could offer. We had a lot of thoughts and we decided to implement the best into the KryptoTop Premium service.
So what are the benefits of KryptoTop Premium ?
- simple controls
- favourable purchase price,
- safe storage of your cryptocurrency,
- lower transaction fees in the Blockchain network.
Let’s look at every benefit individually.
Safe storage for your cryptocurrencies
By giving away all our features, we would just help the hackers. But when we say that your cryptocurrencies are safe, we mean it seriously. Our security consists of advanced elements like 2phase verification, ensured email system with PGP/GPG, lockup of global settings and more. Primarily, we keep all cryptocurrencies that are not being traded or sent to addresses, in a “cold” wallet that is completely isolated from whatever online system, which means it is not possible to attack it or “steal it.”
A favourable purchase price
For us to be able to realize your order instantly, we need to ensure the instant transaction of your financial funds and additional fees are connected to this. If you register for KryptoTop Premium and add funds using a SEPA transaction, these fees vanish. This is how we can offer you a favourable purchase price for a cryptocurrency. Please keep in mind that a SEPA transaction takes a number of days. We recommend keeping enough financial means in your KryptoTop Premium account, so that you can realize the purchase instantly.
Simple controls
A number of cryptocurrencies exist for every cryptocurrency. Every wallet contains a public a private key. If you want to diversify your portfolio and own more cryptocurrencies, it is necessary to have a number of wallets. This requires a lot of time to understand each wallet, their functionalities and possibilities they offer. And if you lose your private key from your wallet, your cryptocurrency will be lost for good. All of these problems can be solved by KryptoTop Premium. You can simply see how much and what type of cryptocurrency you own and of course, you can also send it. We call this “simplicity”.
Lowering your transaction fees in the Blockchain network.
Let’s say that you buy Bitcoin for 100€, every month for a year. If you will send it to your wallet, you will pay this fee 12 times. If you leave your Bitcoin with us and send it to you once a year, you will pay this fee only once. This way you can save hundreds of euros yearly. The transaction fee in the past could rise to 25€.
For better understanding, let’s give an example :
The fee in the blockchain network is stated per transaction, not a % from the amount of the sent cryptocurrency.
1.Martin buys Bitcoin for 100 EUR. At the value of 10 000 EUR/BTC , the customer bought 0,01 BTC. Martin sends his BTC to his wallet and this way he pays the transaction fee in the blockchain network. The fee is 0,001 BTC ( which is 10 EUR ). This way Martin lost 10% value of his investment.
2.Martin wants to sell his BTC. He sends them from his wallet to the market. Again, he pays a fee of 0.001 BTC. In other words, if Martin buys Bitcoin for a 100 EUR and sends it from a back to the market, he loses 20 EUR, which is 20% of his investment.
The fee of 0.001 BTC ( 10 EUROS ) is a model example – at the beginning of 2017, the fee was 5 EUROS, at the end of 2017, the fee was 25 EUROS.
If we summarise it, to keep your cryptocurrencies in your client cabinet is not only safe and easy, but you also save money on transaction fees.