Over the past few months, the Baltisee Virtual Unit Team has been hard at work enhancing our online platform. Through repetitive testing and incorporating your valuable feedback, we’ve made significant improvements to ease the experience of purchasing Cryptocurrency! 

Now, making purchases on our platform is easier than ever, we offer Interac payment allowing you to instantly purchase your cryptocurrency! We also support other payment methods with Visa, Mastercard, and Google Pay with the online platform. Available cryptocurrencies for purchase include Bitcoin, Ethereum, and Litecoin, that can be seamlessly deposited into your crypto wallet.

To get started, simply create an account and complete the necessary steps for identity verification, email verification, and two-factor authentication (2FA), ensuring maximum security for your transactions. Once your account is set up, navigate to the “Purchase Crypto” tab on our website, select the cryptocurrency you wish to purchase and the amount, and enter your cryptocurrency wallet address to receive your purchase directly to your mobile wallet. Easy!

Start exploring the new capabilities of our platform today! If you have any questions, feel free to reach out to our support team at 1 855 499 1149, or by email at support@baltisee.org!

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The U.S. Securities and Exchange Commission (SEC) has recently approved the listing of ETFs that invest in the cryptocurrency Ether, a move facilitated by thorough reviews of applications from Nasdaq, Cboe Global Markets, and the New York Stock Exchange. 

These spot Ethereum ETFs align with the requirements of the Securities Exchange Act, although the SEC must still approve individual asset manager applications before trading can begin. 

This development comes on the heels of the SEC’s cautious approval of bitcoin ETFs and has been well received by the crypto community and asset managers eager to launch these funds, such as VanEck. Spot Ethereum ETFs offer investors a way to gain exposure to Ether without directly purchasing or managing the digital asset. 

This is significant as Ether underpins the Ethereum network, a platform for smart contracts and decentralized applications, and is the second-largest cryptocurrency by market capitalization.

It’s important to note that owning an ETF does not provide the same anonymity or direct utility as owning actual Ethereum, which may influence investor decisions

However, if you are seeking to purchase Ethereum. Baltisee Virtual Unit can offer payments via Kiosks, Online Portal and our Over the Counter Platform for large transactions!

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On May 22, 2010, Florida resident Laszlo Hanyecz made what is considered the first real-world transaction using Bitcoin by purchasing two Papa Johns pizzas for 10,000 bitcoins (BTC).

 At the time, these bitcoins were valued at approximately $41 USD, making each bitcoin worth just under $0.10. Fast forward to today, and those same coins would be worth around $700 million, given the current Bitcoin price of about $70,300 USD. This transaction not only represents the most expensive pizza purchase in history but also marks a pivotal moment for the adoption of digital currencies.

This day highlights the humble beginnings of crypto commerce and its evolution into a revolutionary force in the global financial landscape. Bitcoin and other cryptocurrencies continue to demonstrate their potential to transform how we conduct transactions, promising a more diverse and innovative financial future.

In celebration of this groundbreaking event, Baltisee Virtual Unit invites you to explore the world of cryptocurrencies. You can make purchases through our kiosks across Canada, our online platform, or our Over-The-Counter (OTC) service for larger transactions.

Join us in commemorating a key milestone in the world of Cryptocurrency!  

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Investing in financial markets presents individuals with the choice between traditional stocks and the rapidly evolving world of cryptocurrencies. Understanding the distinct characteristics of each can guide better investment decisions.

Asset Types 

Cryptocurrencies are digital or virtual currencies secured by cryptography, operating independently of central banks and governments. They include a broad spectrum of digital assets, with popular examples like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). They function as decentralized currencies, digital commodities, or tokens that provide access to decentralized applications (DApps).

Stocks represent ownership in a company, giving shareholders rights to a portion of the company’s earnings and assets. Stocks have been a staple of investment portfolios for decades. Examples include Apple (AAPL), Tesla (TSLA), and Microsoft (MSFT).

Market Maturity and Regulation

The cryptocurrency market is relatively young, still evolving, and largely unregulated, although jurisdictions are increasingly implementing rules and oversight. This nascent stage leads to high volatility driven by speculative trading, technological innovation, and shifting market sentiment.

In contrast, stocks are well-established and heavily regulated by government agencies like the U.S. Securities and Exchange Commission (SEC). The stock market is mature and less volatile compared to crypto, with market movements driven by economic data, company performance, and geopolitical events.

Investment Strategies and Accessibility

Cryptocurrency investment strategies range from holding (HODL) and staking to decentralized finance (DeFi), which involves lending or providing liquidity to earn interest or rewards. Day trading is also popular due to high volatility. Investors need a crypto wallet and access to crypto exchanges, where trading happens 24/7.

Stock investors can choose from a range of strategies like dividend investing (focusing on high-yield companies) and technical analysis-based day trading. Trading stocks requires a brokerage account, and most exchanges have specific market hours.

Risks and Challenges

Cryptocurrency investors face potential risks:

• Regulatory Risks: Government bans, regulatory crackdowns, and unclear legal frameworks.
• Market Manipulation: Pump-and-dump schemes and market sentiment swings.
• Lack of Fundamental Valuation: Valuation is mostly speculative and based on supply-demand dynamics.

Stocks also come with their own challenges:

• Market Risks: Economic downturns, inflation, interest rate hikes.
• Business Risks: Company bankruptcies, poor management decisions.
• Regulatory Risks: Regulatory fines, compliance issues.

Potential Returns and Growth

Cryptocurrencies offer the potential for massive returns due to their high volatility and rapid growth, driven by technological advancements in blockchain and decentralized finance. For instance, Bitcoin grew exponentially from less than $1,000 to over $60,000 within five years.

Stocks have historically provided consistent long-term returns, with high-growth sectors like technology offering significant gains. The S&P 500 Index, a common benchmark, has averaged annual returns of around 10% over several decades. Some individual stocks have outperformed significantly, such as Apple or Amazon.

Diversification

Diversifying within the crypto market can be challenging due to the high correlation among major cryptocurrencies. However, investors can gain some diversification by investing in different blockchain projects, tokens, and decentralized finance protocols.

Stocks offer broader diversification options across sectors, industries, and geographies. Investors can access a mix of growth, value, and dividend stocks, reducing portfolio risk.

Tax Implications

Cryptocurrencies are taxed as property, with gains dependent on the holding period (short-term vs. long-term capital gains). Staking, mining, and airdrops can add complexity to tax reporting.

Stocks are subject to capital gains taxation based on the holding period, while dividends are taxed at ordinary income or qualified dividend rates.

Now to finally compare, cryptocurrencies offer high growth potential but come with significant volatility, security risks, and regulatory uncertainty. Stocks provide a more stable investment environment due to established regulation and historical consistency in returns. Ultimately, the choice between the two depends on an investor’s risk tolerance, investment horizon, and diversification goals.

Investors looking for high potential returns with a tolerance for risk may find cryptocurrencies appealing, just like Baltisee Virtual Unit does! 

Those seeking stability and long-term growth through diversification may lean towards stocks. A balanced portfolio that includes both asset classes can offer the best of both worlds. Therefore Baltisee Virtual Unit can offer payments via Kiosks , Online Portal and our Over the Counter Platform for large transactions!

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What exactly is a halving? It’s the process where the reward for mining new bitcoins is halved, decreasing by 50%. This reduction impacts miners who employ a complex, energy-consuming process to unlock new tokens on the blockchain.

Occurring every four years just like the Olympics, the halving aims to slow the rate at which new bitcoins are introduced into the market, capping the total supply at 21 million. This artificial scarcity is designed to preserve Bitcoin’s value.

Approximately every four years, the blockchain network adds 210,000 blocks, a benchmark set by its creators to systematically decrease the rate of cryptocurrency issuance. By March 2024, roughly 19.65 million bitcoins were in circulation, leaving only about 1.35 million yet to be mined.

The first halving took place in November 2012, reducing the reward from 50 to 25 bitcoins per block. Subsequent halvings in July 2016 and May 2020 further reduced it to 12.5 and then 6.25 bitcoins, respectively. The next halving will decrease the reward to 3.125 bitcoins per block, marking a pivotal moment that could drastically alter the mining landscape, affect profitability, and spur advances in mining technology.

Source: Glassnode as of 4/10/2024. .A Terahash represents 1 trillion hashes per second. A Exahash represents 1 quintillion hashes per second. Past performance is not a guarantee of future results (Source)

Bitcoin’s halving underscores its limited, decentralized nature and reinforces its appeal as a secure investment, further shaping its role in the modern financial arena. Therefore, to be ahead of this event, why not go to a Baltisee Virtual Unit Kiosk to make a purchase for this glorious event! 

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Bitcoin’s price in the last six months, between April 2023 and August 2023 | Source: YCharts

Bitcoin’s Price Stability Amidst Turmoil

This period of stability is particularly noteworthy given the circumstances surrounding the cryptocurrency landscape. Large traditional financial institutions like BlackRock have sought approval for ETFs linked to cryptocurrencies. The SEC, despite facing legal hurdles, has continued its engagement with the crypto industry, and the Federal Reserve is actively exploring the potential of a U.S. Central Bank Digital Currency (CBDC) while considering increased regulations for crypto-involved banks.

While some suggest that this stability stems from investor apathy and exhaustion, this is an oversimplification that overlooks key drivers within the crypto ecosystem. For instance, despite the calm surface, there has been a surge in both the hash rate and network growth, as indicated by research from BTC.com. This underlying activity suggests a robust foundation beneath the apparent tranquility.

Furthermore, an article from Glassnode reveals a three-year peak in the number of addresses holding 10 or more Bitcoins, including whales, who are investors who own between 1,000 and 5,000 BTC. This surge in ownership showcases investor confidence and highlights a healthy ecosystem that continues to attract new participants.

An Evolving TradFi Landscape

The traditional finance sector (TradFi) is also showing increasing interest in the crypto sector, signifying a transformative shift. The recent surge in products and services, including multiple ETF applications, is not only indicative of TradFi’s investments but is also intertwined with the reduced price volatility around Bitcoin. Lower volatility serves as both a driver and a consequence of TradFi’s growing involvement, fostering stability that aligns with the expectations of passive investors and automated trading algorithms.

Beyond Bitcoin: The Expanding Crypto Universe

It’s important to recognize that the cryptocurrency sector is not confined to Bitcoin alone. While Bitcoin remains at the forefront of media attention, it’s just one piece of a rapidly expanding ecosystem of tokenized assets. Projects on the Ethereum blockchain, for instance, are paving the way for the broader adoption of tokenized assets, with Ethereum often seen as a contender for leadership in the crypto world.

Decentralized Autonomous Organizations (DAOs), governance tokens, stablecoins, non-fungible tokens (NFTs), and more advanced tokenization initiatives are all contributing to the growth and diversification of the crypto space. Bitcoin’s price stability in this context isn’t a sign of stagnation; rather, it’s emblematic of a maturing ecosystem that accommodates a wide array of use cases and appeals to an expanding range of participants.

Rather than indicating exhaustion, Bitcoin’s period of stability reflects an ecosystem that’s flourishing, attracting significant interest from traditional finance, and embracing a diverse array of projects and innovations.

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Understanding Bitcoin Halving

To comprehend the essence of Bitcoin halving, it’s pivotal to unveil its mechanics. Embedded within the Bitcoin protocol, halving fundamentally slashes the reward granted to miners in half, a mechanism deeply embedded in the network’s design. This strategic reduction serves the purpose of regulating the creation of new bitcoins, ensuring Bitcoin’s finite supply at 21 million coins. With every halving event, the reward for miners is cut in half, diminishing the pace at which new bitcoins enter circulation, and consequently reinforcing the scarcity narrative that supports Bitcoin’s value proposition.

Bitcoin Halving Timeline

Bitcoin halving surfaces after approximately every 210,000 mined blocks – roughly every four years. Halving has transpired on three occasions, shaping the trajectory of its issuance dynamics. The first halving occurred on November 28, 2012, curtailing the block reward to 25 bitcoins. Subsequently, on July 9, 2016, the second halving ensued, further reducing rewards to 12.5 bitcoins. The most recent halving unfolded on May 11, 2020, ushering in the era of 6.25 bitcoins per block. 

For reference, the block reward was initially 50 bitcoins in 2009, but as of August 2023, there are about 19.46 million bitcoins in circulation, leaving a mere 1.54 million left to be mined. The saga of Bitcoin halving extends until 2140, by which time the maximum supply of 21 million bitcoins will be reached.

How are Miners Affected?

Halving is tightly linked with the economy, supply scarcity, and miner incentives. While rewards decrease due to halving, Bitcoin mining persists with a stable blockchain. Occurring in intervals under four years due to mining times, it affects the network, potentially reshaping miner dynamics. Smaller miners could face tougher competition, while larger operations might fare better due to economies of scale.

What Does Bitcoin Halving Mean for Investors?

Bitcoin halving holds profound implications for investors. This event fundamentally alters the supply dynamics of Bitcoin, leading to a reduction in the rate of new coin issuance. As the reward for miners is halved, scarcity is amplified, often resulting in increased demand and potential upward price pressure. Historically, halvings have marked significant price rallies in the months and years following the event. 

For investors, this presents both opportunities and challenges. While halvings can lead to potential price appreciation, they also introduce heightened market volatility. Hence, investors should carefully assess their risk tolerance, research historical patterns, and formulate a well-informed investment strategy that aligns with their financial goals and timelines.

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What is KYC in Cryptocurrency?

KYC is a regulatory and compliance process that requires businesses, including cryptocurrency platforms, to verify the identities of their customers or users. The goal is to ensure that such platforms have accurate information about the individuals using their services – in order to prevent individuals from buying and selling cryptocurrency for illegal activities. The KYC process typically involves collecting personal information, such as names, birthdates, addresses, and government-issued identification documents.

Why is KYC Required by Bitcoin Platforms?

Regulatory Compliance: Governments and financial authorities around the world have recognized the need to regulate cryptocurrency exchanges and platforms to prevent illegal activities such as money laundering, fraud, and terrorist financing. KYC helps cryptocurrency platforms adhere to these regulations and ensures that they are not inadvertently facilitating criminal activities. There are harsh fines for platforms that do not properly adhere to KYC procedures. 

Anti-Money Laundering (AML): Cryptocurrencies offer a degree of anonymity, which can be exploited by criminals to launder money. KYC helps platforms like Baltisee Virtual Unit to establish a level of transparency and accountability, making it harder for illicit funds to flow through the system.

Security: Verifying user identities helps in creating a more secure environment for all users. It reduces the chances of fraudulent accounts, unauthorized access, and cyberattacks, which can harm both the platform and its users. KYC is designed to protect the interests of legitimate users. By confirming the identity of customers, platforms can prevent unauthorized access to accounts, ensuring that users’ funds remain safe.

Trust and Credibility: Implementing KYC measures demonstrates a commitment to legality, security, and ethical conduct. This enhances the platform’s reputation and fosters trust among users and regulatory bodies – which is critical in an industry facing strict government restrictions and regulations. 

Risk Management: Understanding the customer base through KYC enables platforms to assess and manage risks associated with each user. This can help in detecting unusual or suspicious transactions and taking necessary actions promptly.

How is Cryptocurrency Governed in Canada?

In Canada, cryptocurrency falls under a dual framework encompassing securities and anti-money laundering regulations. Cryptocurrencies meeting securities criteria are subject to related laws, including trading platform registration and prospectus issuance. Furthermore, crypto exchanges and select wallet services must adhere to anti-money laundering and counter-terrorism financing regulations, necessitating registration with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and compliance with reporting obligations.

Baltisee Virtual Unit’s KYC Requirements

Baltisee Virtual Unit is registered with FINTRAC and Revenu Quebec. Our team places huge priority on the safety and security of our users. By implementing robust KYC procedures, Baltisee Virtual Unit ensures that every user is thoroughly verified before they can engage in cryptocurrency transactions. This approach not only aligns with regulatory requirements but also reflects our commitment to maintaining a trustworthy and secure environment for our customers.

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Bitcoin’s Price History Since Inception

Bitcoin, founded in 2009 by the pseudonymous Satoshi Nakamoto, has come a long way since its inception. The cryptocurrency started trading on online exchanges in 2010 and surpassed the $1 threshold in April 2011. As its popularity grew, so did its price volatility. In 2013, Bitcoin reached $1,000 for the first time, capturing the attention of investors and tech enthusiasts worldwide.

The most prominent event in Bitcoin’s price history occurred in December 2017 when its value skyrocketed to nearly $20,000, fueled in part by the launch of crypto futures contracts by CME Group. However, the subsequent market downturn in 2018 sent Bitcoin plummeting to less than $4,000.

A period of renewed interest in stocks and cryptocurrencies during the COVID-19 pandemic led to another surge in late 2020, propelling Bitcoin to new all-time highs. It reached its peak of $68,990 in November 2021.

Bitcoin (BTC) price per day from Apr 2013 – Aug 01, 2023

Source: Statista

Bitcoin’s Performance since January 2023

The year 2022 was incredibly challenging for Bitcoin, as rising interest rates across the globe triggered a significant sell-off, causing prices to drop by nearly 65%. The collapse of Luna and its associated stablecoin TerraUSD (UST) added to the woes, and major stablecoins temporarily lost their pegs to the U.S. dollar. Consequently, investor sentiment for Bitcoin and other cryptocurrencies reached a cyclical low by the end of 2022, leaving many feeling not optimistic as they entered 2023.

However, 2023 brought a glimmer of hope, as Bitcoin rebounded with a powerful rally, gaining over 75% year-to-date. Factors such as easing inflation data, the pause in Federal Reserve interest rate hikes in June, and the filing of a Bitcoin spot ETF by BlackRock contributed to this aggressive price surge. Additionally, a brief U.S. banking crisis in early 2023 sparked concerns about the traditional banking system’s safety, which further fueled Bitcoin’s rise above $30,000 in April.

Regulatory Landscape and Institutional Interest

Amid the rally, Bitcoin bulls were encouraged by the diminishing fears of contagion among crypto lenders and exchanges that had troubled the market in 2022. BlackRock’s filing for a Bitcoin spot ETF also hinted at renewed institutional interest in cryptocurrencies, raising hopes of a potential influx of institutional investments.

Nonetheless, Bitcoin bears remain cautious, as the path of monetary policy and additional clarity on crypto regulations could significantly impact Bitcoin’s outlook for the remainder of 2023. The U.S. Securities and Exchange Commission’s (SEC) repeated rejections of Bitcoin spot ETF applications based on fears over investor safety further highlight the regulatory challenges faced by the cryptocurrency market.

Bitcoin’s Uncertain Future: Predictions and Possibilities

The year 2023 has shown that predicting Bitcoin’s price movements is a difficult task. While momentum seems bullish so far, uncertainties abound, and various factors will influence Bitcoin’s performance going forward. The potential approval of a Bitcoin spot ETF by the SEC could open the floodgates for institutional investment, potentially sending prices to new all-time highs.

Despite the tremendous fall of Bitcoin in 2022, market experts, such as Ark Invest CEO Cathie Wood, have made ambitious long-term predictions for Bitcoin’s price. Wood has made predictions of Bitcoin hitting $1.5 million by the year 2030.

Looking Upward and Onward

Bitcoin’s performance in 2023 has been marked by significant volatility, with its price surging after an unprecedented fall in 2022. However, forecasting Bitcoin’s future remains difficult due to its inherent unpredictability and the influence of external factors like institutional adoption, global usage, and the evolving regulatory framework. As Bitcoin continues to navigate the uncertain waters of the crypto market, investors and enthusiasts alike will closely monitor its journey, prepared for the twists and turns that lie ahead.

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The Remittance Industry Landscape

The remittance industry has long been plagued by high fees, long processing times, and complex intermediary procedures. Traditional remittance methods, such as wire transfers and money transfer services, have often left customers frustrated and dissatisfied. Moreover, the lack of financial inclusivity has hindered many individuals from participating in the global economy. As well, who wouldn’t want the ability to send money during non-working hours and weekends?

Bitcoin ATMs: The New Face of Remittances

Enter Bitcoin ATMs, the trailblazers transforming the remittance industry. These cutting-edge machines allow users to buy and sell Bitcoin. Unlike traditional remittance methods, Bitcoin ATMs facilitate direct peer-to-peer transactions, cutting out intermediaries and significantly reducing transaction costs. Another great feature? Bitcoin ATMs do not adhere to traditional working hours.

Advantages of Bitcoin ATMs for Remittance

Low Transaction Costs:

One of the most prominent advantages of using Bitcoin ATMs for remittance is the significantly lower transaction costs. Traditional remittance methods often impose hefty fees, ranging from 7% to 15%, eating into the funds sent by hardworking individuals to support their families back home. In contrast, Bitcoin ATMs offer a more cost-effective alternative, with fees as low as 1% to 3%, depending on the specific ATM operator.

Average transaction cost to send remittance payments to #Angola in 2020 was 22.04%.

Sending remittance payments with #Bitcoin costs less then 1%. pic.twitter.com/FTziawmqoP

— ₿itcoin Xoe (@Bitcoin_Xoe) July 25, 2023

Speedy Transactions:

Gone are the days of waiting for days or even weeks for remittances to reach their intended recipients. Bitcoin ATMs enable near-instantaneous cross-border transactions, reducing the time taken for funds to become accessible. This speed and efficiency are particularly beneficial in urgent situations or during financial emergencies.

Financial Inclusion:

Traditional banking systems can be inaccessible to millions of people worldwide, especially those in developing countries. Bitcoin ATMs bridge this gap, empowering the unbanked and underbanked populations by providing them with an entry point into the global financial system. With just a smartphone and a Bitcoin ATM nearby, individuals can now participate in the digital economy seamlessly.

How Baltisee Virtual Unit Bitcoin ATMs Empower Users

Extensive ATM Network:

Baltisee Virtual Unit has established an extensive network of Bitcoin ATMs across Canada. This wide coverage ensures that users can conveniently access their services, regardless of their proximity to major cities or financial hubs.

User-Friendly Experience:

Baltisee Virtual Unit Bitcoin ATMs pride themselves on offering an intuitive and user-friendly experience. The machines are designed to be accessible to both crypto enthusiasts and novices, making the process of buying and selling Bitcoin a breeze.

Compliance and Security:

Baltisee Virtual Unit places the utmost importance on compliance with regulatory standards and ensuring robust security measures. Users can trust that their transactions are conducted safely and transparently.

Bitcoin ATMs, particularly those provided by Baltisee Virtual Unit, are ushering in a new era for the remittance industry. By significantly reducing transaction costs, speeding up transfers, and promoting financial inclusivity, these machines are empowering individuals globally to engage in seamless cross-border transactions. As the world continues to embrace the benefits of cryptocurrencies, the revolution initiated by Bitcoin ATMs is bound to reshape the remittance landscape for the better.

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