Allah is great. hadith

Allah is great.

Hadith 1: Refrain from doubts

Al-Hasan ibn Ali reported: The Messenger of Allah, peace and blessings be upon him, said:

Leave what makes you doubt for what does not make you doubt. Verily, truth brings peace of mind and falsehood sows doubt.

 Source: Sun an al-Tirmidhī 2518


Hadith 2: Leaving what does not concern the Muslim


Ali ibn Hussein reported: The Messenger of Allah, peace and blessings be upon him, said:

Verily, from the perfection of Islam is that a person leaves what does not concern him.

Hadith 3: Perfection of faith 

Anas ibn Malik reported: The Messenger of Allah, peace and blessings be upon him, said:

None of you has faith until he loves for his brother what he loves for himself.

In another narration, the Prophet said:

None of you has faith until he loves for his brother, or his neighbor, what he loves for himself.

Hadith 4: Sanctity of Muslim life and causes of its nullification

Abdullah ibn Mas’ud reported: The Messenger of Allah, peace and blessings be upon him, said:

It is unlawful to shed the blood of a Muslim person who testifies that there is no God but Allah and that I am the Messenger of Allah, except in one of three cases: the married person who commits adultery, legal retaliation for murder, and a person who abandons their religion and separates from the community.

In another narration, the Prophet said:

And a man who leaves Islam and wages war against Allah and His messenger.

Hadith 5: Islamic Manners

Abu Huraira reported: The Messenger of Allah, peace and blessings be upon him, said:

Whoever believes in Allah and the Last Day, let him speak goodness or remain silent. Whoever believes in Allah and the Last Day, let him honor his neighbor. Whoever believes in Allah and the Last Day, let him honor his guest.

In another narration, the Prophet said:

Let him not harm his neighbor.

And in another narration, the Prophet said:

Let him uphold family ties.

Allah is great.

 Hadith 6: Prohibition of anger

Abu Huraira reported: A man said to the Prophet, “Advise me.” The Messenger of Allah, peace and blessings be upon him, said:

 Do not be angry.

The man repeated his request, and the Prophet:

Do not be angry.

Source: Ṣaḥīḥ al-Bukhārī 5765

Hadith 7: Command to slaughter in the best manner

Shaddad ibn Aws reported: The Messenger of Allah, peace and blessings be upon him, said:

Verily, Allah has prescribed excellence in everything. If you have to kill, then kill in the best manner. If you have to slaughter, then slaughter in the best manner. Let one of you sharpen his knife so his animal is spared of suffering.

Hadith 8: Good character 

Abu Dharr reported: The Messenger of Allah, peace and blessings be upon him, said:

Be mindful of Allah wherever you are, follow a bad deed with a good deed and it will erase it, and behave with good character toward people.

Hadith 9: Be mindful of Allah and He will protect you

Ibn Abbas reported: I was riding with the Messenger of Allah, peace and blessings be upon him, and he said:

Young man, I will teach you some words. Be mindful of Allah and he will protect you. Be mindful of Allah and you will find him before you. If you ask, ask from Allah. If you seek help, seek help from Allah. Know that if the nations gathered together to benefit you, they will not benefit you unless Allah has decreed it for you. And if the nations gathered together to harm you, they will not harm you unless Allah has decreed it for you. The pens have been lifted and the pages have dried.

In another narration, the Prophet said:

Know that there is much good in being patient with what you detest, that victory will come with patience, affliction will come with relief, and hardship will come with ease.

Hadith 10: Modesty is part of faith

Abu Mas’ud reported: The Messenger of Allah, peace and blessings be upon him, said:

Verily, among the words people obtained from the prophets are this: If you feel no shame, then do as you wish.

Source: Ṣaḥīḥ al-Bukhārī 3296

Allah is great.

forex trading for beginner's

Forex Trading: A Beginner's Guide

Forex is short for foreign exchange, but the actual asset class we are referring to is currencies. Foreign exchange is the act of changing one country's currency into another country's currency for a variety of reasons, usually for tourism or commerce. Due to the fact that business is global, there is a need to transact with other countries in their own particular currency.

After the accord at Breton Woods in 1971, when currencies were allowed to float freely against one another, the values of individual currencies have varied, which has given rise to the need for foreign exchange services. This service has been taken up by commercial and investment banks on behalf of their clients, but it has simultaneously provided a speculative environment for trading one currency against another using the internet.

Forex as a Hedge

Commercial enterprises doing business in foreign countries are at risk due to fluctuations in the currency value when they have to buy or sell goods or services to another country. Hence, the foreign exchange markets provide a way to hedge the risk by fixing a rate at which the transaction will be concluded at some time in the future. To accomplish this, a trader can buy or sell currencies in the forward or swap markets, at which time the bank will lock in a rate so that the trader knows the exact exchange rate in order to mitigate his or her company's risk. To some extent, the futures market can also offer a means to hedge currency risk, depending on the size of the trade and the actual currency involved. The futures market is conducted in a centralized exchange and is less liquid than the forward markets, which are decentralized and exist within the inter bank system throughout the world.

                              forex trading for beginner's

Forex as Speculation

Since there is constant fluctuation between the currency values of countries due to varying supply and demand factors such as interest rates, trade flows, tourism, economic strength and geopolitical risk, an opportunity exists to bet against these changing values by buying or selling one currency against another in the hopes that the currency you buy will gain in strength or that the currency you sell will weaken against its counterpart. 

Currency as an Asset Class

There are two distinct features to currency as an asset class:

• You can earn the interest rate differential between two currencies.
• You can gain value in the exchange rate.
• 
  

Why We Can Trade Currencies

Until the advent of the internet, currency trading was limited to inter bank activity on behalf of their clients. Gradually, the banks themselves set up proprietary desks to trade for their own accounts, which was followed by large multinational corporations, hedge funds and high net worth individuals.

With help from the internet, a retail market aimed at individual traders has emerged, providing easy access to the foreign exchange markets, either through the banks themselves or brokers making a secondary market. 

Forex Trading Risks

Trading currencies can cause some confusion related to risk due to its complexities. Much has been said about the inter bank market being unregulated and therefore very risky due to a lack of oversight. This perception is not entirely true, though. A better approach to the discussion of risk would be to understand the differences between a decentralized market versus a centralized market and then determine where regulation would be appropriate.

The inter bank market is made up of several banks trading with each other around the world. The banks themselves have to determine and accept sovereign risk and credit risk, and for this they have many internal auditing processes to keep them as safe as possible. The regulations are industry- imposed for the sake and protection of each participating bank.

Since the market is made by each of the participating banks providing offers and bids for a particular currency, the market pricing mechanism is derived from supply and demand. Due to the huge flows within the system, it is almost impossible for any one rogue trader to influence the price of a currency. In today's high-volume market, with between $2 trillion and $3 trillion being traded per day, even the central banks cannot move the market for any length of time without the full coordination and cooperation of other central banks. (For more on the inter bank system, read The Foreign Exchange Inter bank Market.)

Attempts are being made to create an Electronic Communication Network (ECN) to bring buyers and sellers into a centralized exchange so that pricing can be more transparent. This is a positive move for retail traders who will gain a benefit by seeing more competitive pricing and centralized liquidity. Banks of course do not have this issue and can, therefore, remain decentralized. Traders with direct access to the Forex banks are also less exposed than those retail traders who deal with relatively small and unregulated Forex brokers, which can (and sometimes do) re-quote prices and even trade against their own customers. It seems that the discussion of regulation has arisen because of the need to protect the unsophisticated retail trader who has been led to believe that Forex trading is a surefire profit-making scheme.

Two Ways to Approach Forex Trading

For most investors or traders with stock market experience, there has to be a shift in attitude to transition into or add currencies as a further opportunity for diversification.

1. Currency trading has been promoted as an "active trader's" opportunity. This type of opportunity suits brokers because it means they earn more due to the nimbleness that accompanies active trading.

2. Currency trading is also promoted as leveraged trading, and therefore, it is easier for a trader to open an account with a small amount of money than is necessary for trading in the stock market.

Besides trading for a profit or yield, currency trading can be used to hedge a stock portfolio. For example, if someone builds a stock portfolio in a country where there is potential for the stock to increase in value, but there is downside risk in terms of the currency (i.e., the U.S. in recent history), a trader could own the stock portfolio and short the dollar against another currency such as the Swiss franc or euro. In this way, the portfolio value will increase, and the negative effect of the declining dollar will be offset. This is true for those investors outside the U.S. who will eventually repatriate profits back to their own currencies. (For a better understanding of risk, read Understanding Forex Risk Management.) Opening a Forex account and day trading or swing trading is most common with this profile in mind.

A second approach to trading currencies is to understand the fundamentals and the long-term benefits. It is beneficial to a trader when a currency is trending in a specific direction and offering a positive interest differential that provides a return on the investment plus an appreciation in currency value. This type of trade is known as a "carry trade." For example, a trader can buy the Australian dollar against the Japanese yen. If the Japanese interest rate is .05% and the Australian interest rate is 4.75%, a trader can earn 

4%.

The Bottom Line

For traders, especially those with limited funds, day trading or swing trading in small amounts can be a good way to play the forex markets. For those with longer-term horizons and larger fund pools, a carry trade may be an appropriate alternative.

In both cases, traders must know how to map out the timing their trades through charts, since good timing is the essence of profitable trading. In both cases, as in all other trading activities, the trader must know their own personality traits well enough so that they do not violate good trading habits with bad and impulsive behavior patterns.

                              forex trading for beginner's

poverty is very bad thing

 

Islam on Wealth and Poverty

Introduction

Islamic teachings on wealth & poverty Muslims believe that they are all of equal status in the eyes of Allah and so they should help their poor Muslims who are less fortunate than them. Muslims know that it is their duty not only as Muslims but also as human beings to help those who need their help. Their wealth and good health has been given to them by Allah to see how they use it. They believe that Allah is forever testing them whether they are rich or poor. In the Qur'an, Sadaqah means 'voluntary charity'. It fits in with the 3rd pillar of Islam known as Zakah. Sadaqah is not restricted to any special deed of righteousness. An example of Muslims giving Sadaqah, is during the fasting month of Ramadan. They give money to charities such as 'Islamic Aid'. Ramadan is done in the Islamic religion because Muslims believe that starving teaches an individual self-restraint and shows the more well off Muslims what the poor go through everyday. 

Middle

But if you repent, you may keep your capitals, without inflicting injustice, or incurring injustice. If the debtor is unable to pay, wait for a better time. If you give up the loan as a charity, it would be better for you". Qur'an 2:276-280 This explains, that God is against people who charge interest on long term deals. Such as mortgages. He says that those who do not charge interest, have their reward waiting for them with God. And those who charge interest, should be ready for war with God and his messengers. God also says that if you charge interest, but repent it, that you make keep the money. He also states that if the debtor is unable to pay back the loan, then you should harass him for the money, but you should wait for a better time to ask him for the money back. Therefore, Muslims are forbidden to lend money and then charge interest on that money.  

Conclusion

The meaning; "Whoever establishes the prayers on the night of Qadr out of sincere faith and hoping to attain Allah's rewards (not to show off) then all his past sins will be forgiven." Hadith, Bukhari Vol 1, Book 2:34. The Shariah law, is known as the straight path, the proper path. Islam teaches that wealth is a gift from God to make life better. Muslims have a duty to make the money that is needed to provide a decent standard of living for their families, but they must make it honestly, and make it fairly, having nothing to do with interest, gambling, or alcohol. Wealth is something given by Allah and it is there to be shared with other Muslims. When you are rich Allah tests you to see how you use your wealth. Wealth can be taken away from you just as easily it can be given to you if you don't remember Allah. Use the wealth you are given in a good way and Allah will give you more.

For Islam, all belongs to God, who provides material sustenance for humanity. At the same time, people are morally bound to support themselves and their families; idlers and thieves are considered parasites. Islam's protection of private property is tempered by its recognition that the poor have a claim on the property of the rich, who are exhorted to give generously out of their surplus. Alms giving is a pillar of Islam, and sharing one's wealth with the poor is recognized as an effective means to atone for sin. Within this broad framework, differences of opinion abound. For example, demanding interest on loans used for meeting basic necessities of life, defined as usury, is roundly condemned, while debate continues on the status of modern banking practices, even as their potential contribution to social prosperity is recognized. With the emergence of oil wealth, especially in the Gulf, great energy has been devoted to reviving the financial norms of Islam, evident in the emergence of an influential international Islamic banking system. Today, robust national and transnational Islamic social institutions provide poverty relief, education, and health services, often more effectively than the state.

Zakah - Islamic giving

By giving Zakah the heart of one gets purified. They do not feel greed all the time they do not wish too waste their money on things that are not needed. Then the person feels like giving to the poor they think about the needy and the orphans, the greed is demolished from there hearts, they feel as though

Wealth and poverty - Islamic teachings.

By doing this, we would be creating peace among st the countries. Mohammad also warns against lack of compassion in the world saying a man who" eats his fill while his neighbor remains hungry by his side"(Hadith) is not a true believer.

Religion, wealth and poverty.

Muslims are urged to enjoy wealth and not deny themselves of the good things of this life, since these are enjoyed as part of the bounty of god. Allah (swt) may bless us with wealth - but if we seek wealth out of greed, there is no blessing in it.

Human Beings and Poverty

For if a man with gold rings and in fine clothing comes into your assembly and a poor man in shabby clothing also comes in, you pay attention to the one who wears the fine clothing and say, have a seat here please.

In the name of Allah, the Gracious, the Merciful

              In the name of Allah, the Gracious, the Merciful

Hadith 1:Deeds are by intentions
Omar ibn Al-Khattab reported: The Messenger of Allah, peace and blessings be upon him, said:

Verily, deeds are only with intentions. Verily, every person will have only what they intended. Whoever emigrated to Allah and His Messenger, then his emigration is for Allah and His Messenger. Whoever emigrated to get something in the world or to marry a woman, then his emigration is for whatever he emigrated for.

                
               Ṣaḥīḥ al-Bukhārī 54, Grade:

Hadith 2:Islam, faith, and excellence
Umar ibn Al-Khattab reported: We were sitting with the Messenger of Allah, peace and blessings be upon him, one day when a man appeared with very white clothes and very black hair. There were no signs of travel on him and we did not recognize him. He sat down in front of the Prophet and rested his knees by his knees and placed his hands on his thighs. The man said, “O Muhammad, tell me about Islam.” The Prophet said:

Islam is to witness that there is no God but Allah and Muhammad is the Messenger of Allah, to establish prayer, to give the alms, the fast the month of Ramadan, and to perform pilgrimage to the House if he is capable of travel.


The man said, “You have spoken truthfully.” We were surprised that he asked him and then said he was truthful. He said, “Tell me about faith.” The Prophet said:


Faith is to believe in Allah, His angels, His books, His messengers, the Last Day, and to believe in providence, both its good and its evil.


The man said, “You have spoken truthfully. Tell me about excellence.” The Prophet said:

Excellence is to worship Allah as if you see Him, for you do not see Him but He certainly sees you.

 The man said, “Tell me about the final hour.” The Prophet said:

The one asked does not know more than the one asking.

 The man said, “Tell me about its signs.” The Prophet said:

The servant girl will give birth to her mistress and you will see barefoot, naked, and destitute shepherds compete in constructing tall buildings.

 Then the man left and I remained. The Prophet said to me:

O Umar, do you know who he was?

 I said, “Allah and His messenger know best.” The Prophet said:

   Verily, he was Gabriel who came to teach you your religion.

Source: Ṣaḥīḥ Muslim 8, Grade:

Hadith 3:Pillars of Islam

 Ibn Umar reported: The Messenger of Allah, peace and blessings be upon him, said:

Islam is built upon five: to worship Allah and to disbelieve in what is worshiped besides him, to establish prayer, to give charity, to perform Hajj pilgrimage to the House, and to fast the month of Ramadan.

   Hadith 4:Providence



 Abdullah ibn Masud reported: The Messenger of Allah, peace and blessings be upon him, said:

Verily, the creation of each one of you is brought together in his mother’s womb for forty days as a drop, then he is a clot for a similar period, then a morsel for a similar period, then there is sent to him the angel who blows the spirit into him and he is commanded regarding four matters: to write down his provision, his life span, his deeds, and whether he is blessed or damned. By Allah other than whom there is no God, one of you acts like the people of Paradise until he is but an arm’s length from it, and what is written overtakes him so he acts like the people of Hellfire and he enters it. Verily, one of you acts like the people of Hellfire until he is but an arm’s length from it, and what is written overtakes him so he acts like the people of Paradise and he enters it.

 Source: Ṣaḥīḥ al-Bukhārī 7016, Grade:

In the name of Allah, the Gracious, the Merciful

   Hadith 5:Religious innovation

Aisha reported: The Messenger of Allah, peace be upon him, said:

Whoever innovates something into this matter of ours which does not belong to it will have it rejected.

Source: Ṣaḥīḥ al-Bukhārī 2550, Grade:

In another narration, the Prophet said:

Whoever performs a deed that is not in accordance with our matter will have it rejected.

Source: Ṣaḥīḥ Muslim 1718, Grade:

 Hadith 6:Lawful and unlawful are clear

Al-Nu’man ibn Bashir reported: The Messenger of Allah, peace and blessings be upon him, said:

Verily, the lawful is clear and the unlawful is clear, and between the two of them are doubtful matters about which many people do not know. Thus, he who avoids doubtful matters clears himself in regard to his religion and his honor, and he who falls into doubtful matters will fall into the unlawful as the shepherd who pastures near a sanctuary, all but grazing therein. Verily, every king has a sanctum and the sanctum of Allah is his prohibitions. Verily, in the body there is a piece of flesh which if upright then the entire body is upright, and if corrupt then the entire body is corrupt. No doubt it is the heart.

Source: Ṣaḥīḥ al-Bukhārī 52, Grade:

 In another narration, the Prophet said:

Make between yourself and the unlawful a barrier of what is lawful. Whoever does so will clear himself in regard to his honor and his religion. A shepherd who grazes near the side of a sanctum will nearly fall into it. Verily, every king has a sanctum and the sanctum of Allah is his prohibitions.

Source: Ṣaḥīḥ Ibn Ḥibbān 5685, Grade:

   Hadith 7:Religion is Good Will

Tamim al-Dari reported: The Messenger of Allah, peace and blessings be upon him, said:

Verily, the religion is sincerity.

 We said, “To whom?” The Prophet said:

To Allah, His book, His messenger, the leaders of the Muslims, and their common people.

Source: Ṣaḥīḥ Muslim 55, Grade

 Hadith 8:Jihād in the way of Allah

Jabir reported: The Messenger of Allah, peace and blessings be upon him, said:

I have been commanded to fight the people until they say there is no God but Allah. If they say there is no God but Allah, then they will be granted protection from me for their lives and property, except by right of justice, and their reckoning is with Allah.

Then, the Prophet recited the verse:

Verily, you are only a reminder. You are not over them as a dictator.

 Ibn Taymiyah comments on this tradition, writing:

The meaning of this tradition is to fight those who are waging war, whom Allah has called us to fight. It does not mean to fight those who have made peace, with whom Allah has commanded us to fulfill their peace.

Source: Majmū’ al-Fatāwá 19/20

And Ibn Rajab writes:

The meaning is that your duty is only to remind them about Allah and to preach to them. You do not have authority to insert faith into their hearts by force; you are not responsible for that.

Source: Jāmi’ al-‘Ulūm wal-Ḥikam 1/236

 Hadith 9: Responsibility within one’s capacity

Abu Huraira reported: The Messenger of Allah, peace and blessings be upon him, said:

Avoid what I have forbidden for you and do what I have commanded you as much as you are able. Verily, the people before you were destroyed only because of their excessive questioning and differing with their prophets.

Source: Ṣaḥīḥ al-Bukhārī 6858, Grade:

 In another narration, the Prophet said:

Leave me with what I have left you. When I narrate a saying to you, then take it from me. Verily, the people before you were destroyed only because of their excessive questioning and differing with their prophets.

Source: Sunan al-Tirmidhī 2679, Grade:

Hadith 10:Restriction to what is lawful and wholesome

 Abu Huraira reported: The Messenger of Allah, peace and blessings be upon him, said:

O people, Allah is pure and He accepts only what is pure. Verily, Allah has commanded the believers as He commanded His messengers. Allah said: O messengers, eat from good things and act righteously, for I know what you do. And Allah said: O you who believe, eat from good things We have provided for you. 

Abu Huraira added:

 Then, the Prophet mentioned a man who traveled far, becoming disheveled and dusty and he raises his hands to the sky, saying, “O Lord! O Lord!” while his food is unlawful, his drink is unlawful, his clothing is unlawful, and he is nourished by the unlawful, so how can he be answered?

Source: Ṣaḥīḥ Muslim 1015, Grade:

       In the name of Allah, the Gracious, the Merciful

What is Cry ptocurrency. Guide for Beginners

What is Cryptocurrency. Guide for Beginners

A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency. Essentially, cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled.

History 

There have been many attempts at creating a digital currency during the 90s tech boom, with systems like Flooz, Beenz and DigiCash emerging on the market but inevitably failing. There were many different reasons for their failures, such as fraud, financial problems and even frictions between companies’ employees and their bosses.

Notably, all of those systems utilized a Trusted Third Party approach, meaning that the companies behind them verified and facilitated the transactions. Due to the failures of these companies, the creation of a digital cash system was seen as a lost cause for a long while.

Then, in early 2009, an anonymous programmer or a group of programmers under an alias Satoshi Nakamoto introduced Bitcoin. Satoshi described it as a ‘peer-to-peer electronic cash system.’ It is completely decentralized, meaning there are no servers involved and no central controlling authority. The concept closely resembles peer-to-peer networks for file sharing.

One of the most important problems that any payment network has to solve is double-spending. It is a fraudulent technique of spending the same amount twice. The traditional solution was a trusted third party - a central server - that kept records of the balances and transactions. However, this method always entailed an authority basically in control of your funds and with all your personal details on hand.

In a decentralized network like Bitcoin, every single participant needs to do this job. This is done via the Blockchain - a public ledger of all transaction that ever happened within the network, available to everyone. Therefore, everyone in the network can see every account’s balance.

Every transaction is a file that consists of the sender’s and recipient’s public keys (wallet addresses) and the amount of coins transferred. The transaction also needs to be signed off by the sender with their private key. All of this is just basic cryptography. Eventually, the transaction is broadcasted in the network, but it needs to be confirmed first.

Within a cryptocurrency network, only miners can confirm transactions by solving a cryptographic puzzle. They take transactions, mark them as legitimate and spread them across the network. Afterwards, every node of the network adds it to its database. Once the transaction is confirmed it becomes unforgeable and irreversible and a miner receives a reward, plus the transaction fees.

Essentially, any cryptocurrency network is based on the absolute consensus of all the participants regarding the legitimacy of balances and transactions. If nodes of the network disagree on a single balance, the system would basically break. However, there are a lot of rules pre-built and programmed into the network that prevents this from happening.

Cryptocurrencies are so called because the consensus-keeping process is ensured with strong cryptography. This, along with aforementioned factors, makes third parties and blind trust as a concept completely redundant.

What can you do with cryptocurrency

In the past, trying to find a merchant that accepts cryptocurrency was extremely difficult, if not impossible. These days, however, the situation is completely different.

There are a lot of merchants - both online and offline - that accept Bitcoin as the form of payment. They range from massive online retailers like Overstock and Newegg to small local shops, bars and restaurants. Bitcoins can be used to pay for hotels, flights, jewelery, apps, computer parts and even a college degree.

Other digital currencies like Litecoin, Ripple, Ethereum and so on aren’t accepted as widely just yet. Things are changing for the better though, with Apple having authorized at least 10 different cryptocurrencies as a viable form of payment on App Store.

Of course, users of cryptocurrencies other than Bitcoin can always exchange their coins for BTCs. Moreover, there are Gift Card selling websites like Gift Off, which accepts around 20 different cryptocurrencies. Through gift cards, you can essentially buy anything with a cryptocurrency.

Finally, there are marketplaces like Bitify and OpenBazaar that only accept cryptocurrencies.

Invest 

Many people believe that cryptocurrencies are the hottest investment opportunity currently available. Indeed, there are many stories of people becoming millionaires through their Bitcoin investments. Bitcoin is the most recognizable digital currency to date, and just last year one BTC was valued at $800. In November 2017, the price of one Bitcoin exceeded $7,000.

Ethereum, perhaps the second most valued cryptocurrency, has recorded the fastest rise a digital currency ever demonstrated. Since May 2016, its value increased by at least 2,700 percent. When it comes to all cryptocurrencies combined, their market cap soared by more than 10,000 percent since mid-2013.

However, it is worth noting that cryptocurrencies are high-risk investments. Their market value fluctuates like no other asset’s. Moreover, it is partly unregulated, there is always a risk of them getting outlawed in certain jurisdictions and any cryptocurrency exchange can potentially get hacked.

If you decide to invest in cryptocurrencies, Bitcoin is obviously still the dominant one. However, in 2017 its share in the crypto-market has quite dramatically fallen from 90 percent to just 40 percent. There are many options currently available, with some coins being privacy-focused, others being less open and decentralized than Bitcoin and some just outright copying it.

While it’s very easy to buy Bitcoins - there are numerous exchanges in existence that trade in BTC - other cryptocurrencies aren’t as easy to acquire. Although, this situation is slowly improving with major exchanges like Kraken, BitFinex, BitStamp and many others starting to sell Litecoin, Ethereum, Monero, Ripple and so on. There are also a few other different ways of being coin, for instance, you can trade face-to-face with a seller or use a Bitcoin ATM.

Once you bought your cryptocurrency, you need a way to store it. All major exchanges offer wallet services. But, while it might seem convenient, it’s best if you store your assets in an offline wallet on your hard drive, or even invest in a hardware wallet. This is the most secure way of storing your coins and it gives you full control over your assets.

As with any other investment, you need to pay close attention to the cryptocurrencies’ market value and to any news related to them. Coinmarketcap is a one-stop solution for tracking the price, volume, circulation supply and market cap of most existing cryptocurrencies.

Depending on a jurisdiction you live in, once you’ve made a profit or a loss investing in cryptocurrencies, you might need to include it in your tax report. In terms of taxation, cryptocurrencies are treated very differently from country to country. In the US, the Internal Revenue Service ruled that Bitcoins and other digital currencies are to be taxed as property, not currency. For investors, this means that accrued long-term gains and losses from cryptocurrency trading are taxed at each investor’s applicable capital gains rate, which stands at a maximum of 15 percent.

Accept as payment for business

If you happen to own a business and if you’re looking for potential new customers, accepting cryptocurrencies as a form of payment may be a solution for you. The interest in cryptocurrencies has never been higher and it’s only going to increase. Along with the growing interest, also grows the number of crypto-ATMs located around the world. Coin ATM Radar currently lists almost 1,800 ATMs in 58 countries.

First of all, you need to let your customers know that your business accepts crypto coins. Simply putting a sign by your cash register should do the trick. The payments can then be accepted using hardware terminals, touch screen apps or simple wallet addresses through QR codes.

There are many different services that you can use to be able to accept payments in cryptocurrencies. For example, CoinPayments currently accepts over 75 different digital currencies, charging just 0.5 percent commission per transaction. Other popular services include Cryptonator, CoinGate and BitPay, with the latter only accepting Bitcoins.

In the US, Bitcoin and other cryptocurrencies have been recognized as a convertible virtual currency, which means accepting them as a form of payment is exactly the same as accepting cash, gold or gift cards.

For tax purposes, US-based businesses accepting cryptocurrencies need to record a reference of sales, amount received in a particular currency and the date of transaction. If sales taxes are payable, the amount due is calculated based on the average exchange rate at the time of sale.

Cryptocurrency market cap 

(stats retrieved on Nov. 10, 2017)

Name	Market Cap	Price	Volume	Circulating Supply	Change (24hrs)
Bitcoin	$112,735,453,936	$6760.98	$5,136,770,000	16,674,425 BTC	-5.43%
Ethereum	$29,227,540,706	$305.58	$894,988,000	95,647,370 ETH	-4.84%
Bitcoin Cash	$15,121,119,942	$901.17	$4,500,640,000	16,779,413 BCH	37.68%
Ripple	$8,088,155,335	$0.209910	$140,243,000	38,531,538,922 XRP	-3.47%
Litecoin	$3,297,343,825	$61.33	$294,950,000	53,767,732 LTC	-5.75%
Dash	$2,601,563,986	$338.71	$115,739,000	7,680,801 DASH	3.18%
NEO	$1,893,495,500	$29.13	$59,589,000	65,000,000 NEO	-8.16%
NEM	$1,804,086,000	$0.200454	$10,806,300	8,999,999,999 XEM	-6.32%
Monero	$1,675,861,201	$109.28	$87,656,500	15,335,901 XMR	-8.11%
Ethereum Classic	$1,457,787,439	$14.98	$299,410,000	97,318,182 ETC	5.69%
IOTA	$1,441,775,712	$0.518712	$48,539,100	2,779,530,283 MIOTA	-5.46%
Qtum	$862,271,130	$11.71	$132,988,000	73,651,804 QTUM

Opinion leaders to follow 

• Don Tapscott — Media theorist, author of several books on Blockchain and cryptocurrencies.
• Vitalik Buterin — Creator of Ethereum.
• Gilles Babinet — A French multi-entrepreneur, the Digital Champion of France.
• Vinny Lingham — CEO/Co-Founder of Civic Key.
• Michael Mainelli — Scientist financier promoting societal advance through better finance and technology.
• Jim Marous — Co-publisher of The Financial Brand and the owner and publisher of the Digital Banking Report.
• Brett King — Founder/CEO of Moven, bestselling author, Innovator of the Year.
• Charlie Lee — Creator of Litecoin.
• Brock Pierce — Founder of more than 10 Fintech companies.
• Sally Eaves — CTO and thought leader in emergent technology, online media, social innovation, etc.
• Roger Ver — World’s first investor in Bitcoin startups, including bitcoin.com, blockchain.com, BitPay, Kraken, Purse.io, etc.
• Erik Voorhees — CEO of ShapeShift.
• Tuur Demeester — Economist and investor, Editor in Chief at Adamant Research.
• Bruce Porter Jr. — American entrepreneur.
• Dinis Guardia — CEO/Founder of Intelligent HQ.

Future of cryptocurrency

Bill Gates, co-founder of Microsoft, investor and philanthropist:

“Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.

 Richard Branson, founder of Virgin Galactic and more than 400 other businesses:

“Well, I think it is working. There may be other currencies like it that may be even better. But in the meantime, there’s a big industry around Bitcoin. — People have made fortunes off Bitcoin, some have lost money. It is volatile, but people make money off of volatility too.

 Al Gore, former Vice President of the United States:

“When Bitcoin currency is converted from currency into cash, that interface has to remain under some regulatory safeguards. I think the fact that within the Bitcoin universe an algorithm replaces the function of the government …[that] is actually pretty cool.

 Eric Schmidt, executive chairman of Google:

“[Bitcoin] is a remarkable cryptographic achievement… The ability to create something which is not duplicable in the digital world has enormous value…Lot’s of people will build businesses on top of that.

 Peter Thiel, co-founder of PayPal:

“PayPal had these goals of creating a new currency. We failed at that, and we just created a new payment system. I think Bitcoin has succeeded on the level of a new currency, but the payment system is somewhat lacking. It’s very hard to use, and that’s the big challenge on the Bitcoin side.