Spectrocoin Review

Spectrocoin is an all-in service provider for bitcoin and altcoin users and investors. In addition to its function as a bitcoin wallet they also offer exchange services, a real plastic bitcoin debit card and a solution for bitcoin business owners to accept payment methods in their daily business activities. Spectrocoin combines technological reliability and a robust infrastructure to offer high quality bitcoin services to its customers.

About Spectrocoin
Spectrocoin, based in England, was founded in 2013. The company is headquartered at the Landsdowne Row in London, a prestigious address and not a virtual office. Since May 2015 they have started issuing bitcoin debit cards.

Although it is not possible to find out the two who can be the actual owners of Spectrocoin via the website, it can be found via LinkedIn that the bitcoin service provider has three owners, all three programmers from Lithuania.

Before Vyautas founded Karalevicus Spectrocoin he had several jobs as a financial analyst in the industry. Justas Dobilauskas is the Chief Technology Officer at the startup company and has more than 6 years experience as a software developer for web design companies. The third owner is Mantas Mockevicius who holds various degrees in international business (Master Business Administration etc.)

Spectrocoin services
Spectrocoin offers all kinds of services for anyone who wants to use bitcoin worldwide. They have a bitcoin e-wallet that can be directly upgraded with bitcoins purchased on their own exchange. The bitcoin debit card makes spending your bitcoins as easy as Euros, Dollar and British Pounds. The company also offers solutions for companies to accept bitcoin as a valid payment method. Besides, Spectrocoin offers an API, eCommerce plugins and the like for webshop and website owners.

The bitcoin debit card can be charged directly with bitcoin, Euros, Dollars, British Pounds or gold, so you do not first have to trade one currency for the other. The Visa plastic debit card can then be used at any ATM worldwide. The pass comes in three variants: USD, EUR and GBP. The plastic card and the virtual card can be used with any website and webshop that accept Visa. Business owners can also accept bitcoin payments and withdraw their monies with the card or transfer to a bank account via a credit card deposit. If you as a company really want to go 2.0, you can order a number of customized (so with company logo and all) Spectrocoin fit for internal and external use.

The Spectrocoin pass, unlike most other bitcoin debit cards, can be sent to almost every country in the world, including India and China and is also available to residents of the United States. Normal sending is free and you have the card within 3 weeks. If you need the card urgently, you can choose the expedited shipping option for an amount of 69 Euro. In this case you will receive the card within 4 to 5 days.

Spectrocoin also has a smartphone app, so you always have your crypto business on. The Spectrocoin wallet is available in Google Play, App Store and in the Windows Store. The service comes with two factor authorization (2FA) to log in. The verification process is well described on the Spectrocoin website. To verify your account completely, you must mail a copy of your passport or ID card to the company. Do not you want this? No problem, you can still use the services and the pass, only with lower limits.

You can charge the Spectrocoin card with a maximum of 10,000 Dollars at a time. Spectroin allows 2 ATM withdrawals per day, with a total amount of 2000 Dollars. There is no limit to spend in shops, restaurants and hotels. If you have fully verified your account, you can even put Paypal money on the card and vice versa. You can also use the card on casino and stock websites as deposit method.

If you prefer to remain anonymous, you can still use the services of Spectrocoin as mentioned above, however with some limitations. Unverified users can put a maximum of 2500 Dollars on the card, withdraw 200 Dollars at a time, with a maximum of 400 Dollars per day. The withdrawal limit at the ATM is from unverified users at 1000 Dollar. You can, however, spend unlimited amounts in shops, restaurants and hotels with the card.

The spectrocoin plastic bitcoin debit card costs 8 Euro to order and you pay 50 cents per virtual card. A monthly service fee of 1 Dollar per card will be charged. This amount will not be charged if your balance is 0, so there is no inactivity fee. If you put money on your card this is free if it comes from a Spectrocoin account. If not, it is used in the method. Bank deposits are free but credit card deposits are somewhat more expensive, up to 5%. If the card is emptied at a bitcoin address it costs 0.5% with a minimum of 1 Euro. So you can better empty your card at once if you want to do this, instead of doing several smaller transactions.

Recording with the spectrocoin pass is reasonably priced, compared with Neteller for example. Where Neteller asks 4 Euro per withdrawal, spectrocoin asks 2.50 Euro in Europe and 3.50 Euro outside Europe. There is also a 3% exchange rate fee if you want to make the payment in another currency. Always choose the card (Euro, Dollar or British Pound) in which you spend the most.

Spectrocoin offers live bitcoin rates on the website in 26 different currencies and also in pairs like gold / bitcoin and certain altcoins. The price used is acceptable, since it is equal to the price used on bitcoin exchanges (through offers and late prices).

The website and User Interface of Spectrocoin are in the same colors as onlinehandelen.com, namely blue and orange. A sleek design ensures that each user can easily go through the various tables and menu options. Personally, I think the website is very well designed and easy to understand. On my website Spectrocoin offers in my opinion sufficient information about its services but does not explain everything. The FAQ has no search function and the deadline for your verification process is not shown anywhere. You also can not find out 1,2,3 who are the owners of the website, but fortunately I found that above. All in all, this information is not really interesting either, especially in the cryptocurrency world. You can always contact the Hotline and email customer service department,

What I personally find important to note is that if you search through Google on Spectrocoin, you occasionally still encounter a negative experience of a user. You read that the company freezes accounts until identification procedures are run through and the like. If you ask me, it’s quite normal and I can assure you that if you google Neteller or Skrill you get hundreds of negative results. These are all people who have done something that simply can not.

Spectrocoin review conclusion
Spectrocoin offers a wide range of services for bitcoin and altcoin use. The bitcoin debit cards are available worldwide and the costs are lower than most counterparts. The website is clear and the customer service is at your service. Is Spectrocoin scam? No. It is just a method to convert your bitcoin and altcoin earnings into fiat money or vice versa and then to be able to pin this … Exactly what I was looking for and that is why I also have a Spectrocoin pass. I definitely recommend Spectrocoin and give the company in the sector bitcoin debit cards 8.5 / 10.

The reason that I give a 8.5 and is not 10 because you have to pay 1 Euro per virtual card per month, which I personally find something pricey. With other providers this is free. Anyway, if you do not need dozens of numbers to make purchases online (most of us absolutely do not) then this is something that can be overlooked. In short, really a must for the bitcoin and altcoin investor!

Overview and comparison of major cryptocurrencies

Bitcoin, Litecoin, cryptocurrencies, mining… It seems like these new words are popping up everywhere in recent months. In part, the cryptocurrency boom is due to the fact that historically they have shown much higher profitability than the traditional dollar or euro.

But there are actually a number of reasons why cryptocurrencies are so popular. They are safe, anonymous, and completely decentralized. Unlike conventional currencies, they are not controlled or regulated by any particular authority, and their flow is completely determined by market demand. They are also nearly impossible to forge, thanks to a highly complex code system that encrypts each transmission, providing complete anonymity and security for every user.

Although Bitcoin is practically the only cryptocurrency discussed most of the time, there are actually many different cryptocurrencies available (in fact, very many).

So let’s take a closer look at the major ones.

Bitcoin and Bitcoin Cash

Bitcoin is the digital currency that is stored in the unique payment system of the same name, where there is no controlling body and all participants are considered peers. Bitcoins can be used to make purchases and transfers if the recipient agrees to receive Bitcoin and is able to do so. The main idea behind

Bitcoin is complete decentralization: neither the central bank, nor the government, nor any other administrative organization can influence or control Bitcoin.

As for Bitcoin’s profitability, it is legendary.

This isn’t surprising – after all, a Bitcoin was sold for 0.003 dollars in the very beginning, and now it is traded at around USD 9000.

Bitcoin Cash is a new currency that emerged from a hard fork of the Bitcoin on August 1, 2017. It is a more scalable replication of the original blockchain with individual blocks increased to 8 MB.

The way a fork works is that instead of creating a new blockchain from scratch, the fork creates a duplicate blockchain with the same history.

What this actually means is that all owners of pre-fork Bitcoins are now owners of the same amount of Bitcoin Cash, since both cryptocurrencies had the same blockchain up until the moment of the fork.

Right after its release, Bitcoin Cash was worth about USD 700, but it stabilized in the USD 250-300 range in the following days.

Dash

Dash (“Digital Cash”) is a decentralized open payment system that uses an algorithm called Darksend to keep transactions anonymous. This currency has been renamed twice, from Darkcoin in 2015 and Xcoin in 2014.
It offers all the possibilities of Bitcoin, as well as instant and completely anonymous transactions through so-called Masternodes.
Masternodes mix up the transaction data to erase all of its tracks, and then get a percentage of the transaction value.
The main differences between Dash and Bitcoin are:

Transactions in Dash are anonymous.
Dash uses not one, but a combination of several cryptographic algorithms.
Mining Dash consumes less energy.

Decisions about the further development of the system are made collectively by all members of the Dash network through Decentralized Governance, instead of being decided by individual programmers.

The value of this cryptocurrency passed the $1 billion mark in May 2017.

Ethereum

Ethereum is a platform for creating decentralized online services based on a blockchain that uses smart contracts. It is implemented as a single decentralized virtual machine.
Developed by 19-year-old Vitalik Buterin, this cryptocurrency raised 18 million dollars in its ICO in August 2013 and was launched in July of 2015.
Unlike other cryptocurrencies, its creators do not limit the role of the Ether to payments, but offer it as a means for exchanging resources or registering transactions of assets using smart contracts. In particular, its developers have called the Ether a “crypto fuel” for smart contracts.
The Ethereum technology makes it possible to register any transactions with any assets using a blockchain-type distributed database of contracts, without resorting to traditional legal procedures. This possibility provides competition for the existing transaction registration system. According to The Economist magazine, the technology of “smart contracts” marks a new era in financial technologies.
Developers can issue tokens or units of their currency over a blockchain network.
In 2017, Ethereum grew by 4000% and became the second largest cryptocurrency after Bitcoin.
RIPPLE

Ripple is a distributed payment system that uses the same cryptocurrency (XRP) as the internal payment unit.

First of all, we need to clarify that Ripple is not a Bitcoin clone and Ripple technology is based on a completely different concept, called the “principle of trust”.

XRP is similar to BTC:

Ripple is divided out to a large number of decimal places.
It is also easily transmitted in electronic form and has high cryptographic stability.
It is interchangeable and homogeneous.

XRP also has advantages over BTC:

Transactions in the network are much faster.
Ripple has some intrinsic value, since it allows you to conduct transactions.
Ripple coins are deflationary, as they are destroyed by the network after the transaction is carried out, so the total number of XRPs decreases over time.

As of 2017, Ripple is ranked the fourth cryptocurrency in terms of market capitalization, second only to Bitcoin and Ephereum.

Litecoin

Litecoin is a peer-to-peer internet currency that includes nearly zero-cost payments to anywhere in the world.
Litecoin is a fork of Bitcoin, as they were the same cryptocurrency until 2011.
The emission of Litecoins, as with Bitcoins, is algorithmically limited. The maximum amount of Litecoins that will go into circulation is four times greater than the maximum number of Bitcoins (84 million versus 21).
The initial reward for each block is 50 Litecoins.
Litecoin blocks are formed 4 times faster than Bitcoin blocks. Their pace of emissions and compensations will be similar over time.
About 3/4 of all Litecoins will be generated in 2020.
Will cryptocurrencies be the new norm after 2017? It might be too early to judge. There is one thing we know for certain – cryptocurrencies are going to be on the minds of experts and ordinary people for a long time.
Don’t forget that the first real thing bought using Bitcoin was a pizza sold for 10,000 bitcoins. In 2009, the owner of a pizzeria decided to believe in the cryptocurrency and traded the pizza for a pittance.  This decision brought him at least $4,000,000 and set off a major financial revolution.
If you believe in the potential of cryptocurrency and blockchain technology, if you want to secure a place for yourself in a future where cryptocurrencies reign, and if you want to witness the origins of a new financial system, then it is best to invest now.
The best way to do this is on the IQ Option platform, which is one of the largest online exchanges in the world.

IQ Option offers its customers a wide range of cryptocurrency assets, a steadily growing number of available trading instruments, everything necessary for technical and fundamental analysis, a user-friendly interface, 24/7 customer support, lightning-fast credits and withdrawals of funds, and much, much more.

May you and your assets continue to grow!

Review of Trade Coin Club Opportunity

This is a currency trading club where Member purchase the software and then use that suite of trading tools to trade their own funds at whatever level they want, starting with as little as 0.01 BTC. Trading is semi-automated and the Member retain full control over their account funds. You can choose to trade with more than 30 types of Altcoins, creating a well diversified portfolio quickly and easily.

For the MLM side of things, the Trade Coin Club software is the product you’re promoting, so there’s legitimate value being added to the network when you refer new Members… hence the generous compensation package.

It uses a binary matrix which means when an active Member brings in more than two new Members, any more are placed even deeper in the network, creating ‘spillover’ and helping those below them build their own network. I won’t try to explain that here, except to say that it rewards you very well for your efforts in growing the membership base.

As with any investment or business venture, I encourage you to do your own due diligence and proceed accordingly. You can review the program information page below and register to test it out if you like what you see…

Trade Coin Club Website

 

 

Review of the BTC Robot Trader

I mostly avoid robots these days, after too many bad experiences and embarrassing purchases… but this is a option worth checking out if you are new to trading and not particularly interested in learning a whole lot of theory.

Basically you license a trading bot that you run on your own account on the Metatrader4 platform… Then the bot does most of the work for you.

It’s not totally hands-free though, as the thing with most bots is, they need to be updated as market conditions change. Most of the top programmers will do this for you, but you do still need to monitor your account and make necessary adjustments.

To date I’ve only tried running a single bot on a relatively small account and the results have been quite satisfactory. I never completely trust automated trading though. Bots are usually build to generate returns based on past results, which should never be taken as an sort of assurance of future performance…

ie. just because it worked in the past does not mean it’s going to happen again.

Good bots however, make decisions based on sound technical analysis and high probability patterns based on the price action. At this stage I believe this bot is doing just that (quite well), but you should always monitor any automated system closely and use strict money management to ensure it remains effective as market conditions evolve.

I’d suggest a similar approach, especially if you are new to trading.

Don’t be seduced by the high rates of return on backtesting… anyone can make a bot that confirms past data… the real test is always when it starts going forward. When you find a bot that does well there, then you can start to think about increasing your stake!

The BTCRobot is available via subscription, starting from $19.95 per month for a single instance, which is fine to test.

I actually like the subscription pricing model, as this puts the onus on the developers to keep working to ensure it remains profitable. They want you to stay subscribed, so they work hard to make sure their robot keeps performing in current market conditions.

Want to know more?

You can check out the BTCRobot via the link below. You can use one of their hosted trading accounts if you only want to run the robot, but personally I prefer to run these on own Metatrader installation so I can monitor exactly what’s happening. Likewise, if you want to do any trading of your own,  you’ll need a standalone account, so I’ve included a link to AVATrader, our preferred broker. They have some great welcome-bonus deals going at present so check that out as well.

Check out BTC Auto-Trading Robot

Check Out AVATRADE Forex Broker

 

 

eToro Social Trading Platform

eToro is a little different to most brokers and another good option for beginners. It offers what they call CopyTrading, when you can opt to follow the trades of another member. They buy, you buy. They sell, you sell. They move their stops or change their targets, your account automatically updates to do the same.

There is a risk here that the traders you choose to follow could have a reversal of fortune, but if you spread your bank over a portfolio of traders… ie copy the trades of 8-12 proven traders… you can minimise your risk and still generate a very consistent return. And if one of them does manage to blow up, it won’t have a major impact on your account balance.

I’ve used this one myself in the past and had some excellent successes with copy-trading. These days I prefer a more hands-on approach trading my own plan, but I have a number of friends who swear by it. As always, just remember that past results do not guarantee future performance… so a conservative risk-averse approach will always yield better results in the long term.

Check Out the eToro Social Trading Platform

AVA Trade Platform Review

This is my main trading platform for all cryptos and forex pairs. It runs on the Metatrader platform, has very competitive spreads (FX equivalent of commissions), great liquidity (so you get your orders filled at the price you want), and I’ve never had a problem depositing or withdrawing funds.

It is a regulated broker, well established, operating in over 150 countries for the last 10 years. They offer fantastic support and training and a variety of trading platforms, including a web-based option for any time you’re away from your desktop.

You can start with as little as $100, though they have some excellent first deposit bonuses that make it worth your while to start with a larger initial bank… which isn’t a bad idea…

Your Starting Account Size

You don’t want to ever risk more than 2% of your account on any single trade… so if you start with $100 and apply strict money management, you’d only ever risk $2 per trade… Which means your wins would be quite restricted as well… maybe $5-$10 for a successful trade.

Realistically though… even with the best of intentions… most people starting small will end up risking a much larger portion of their bank on every trade… 10, 20 even 50%… which becomes a very hard habit to break later on.

You will do much better if you wait to start until you can make a more substantial deposit of at least $500, preferably even more, and then establish good money/risk management practices right from the start!

Perhaps what I like the most about this platform is their regular technical analysis which often identifies opportunities in currencies I don’t usually follow. Also the Autochartist software that’s included in the package is professional quality softweare not usually available to retail traders, and certainly not for free.

They also offer trading on the 5 main crypto-currencies at very competitive rates and margins. While most brokers are offering Bitcoin these days, very few have all these others, and personally I often to find more opportunities on those.

So even if you prefer to shop around, I encourage you to look AVA Trade over, and use what you see as your benchmark of what a good broker should be offering…

Register An Account With AVA Trade

Plus 500 Trading Platform Review

Plus500 offers CFD trading in Shares, Forex, Indices, Commodities and ETFs. I’ve been using their platform for a number of years and it is easily one of the most user-friendly I’ve encountered and I’ve always found it reliable and stable.

It was also one of the first I found offering CFD options for crypto-currencies. They also offer CFD trading for some 2000+ instruments across 20+ different markets worldwide.

The other big plus for me was the fact I could deposit funds from my PayPal account, which saved a bit of back and forth when I needed to make a deposit. Obviously you don’t want to be making too many deposits, so that isn’t such an issue, but I find it handy to have funds paid out to PayPal as well.

If you are just testing the currency trading waters, this is an excellent option to learn on. Unlike other platforms, with Plus500, customers cannot lose more than the funds they have available on their account. You can set up a Demo account and use it on any device while you develop your own trading plan.

You can download the software directly using the link below, or visit the website for more information…

Plus 500 Direct Download

View The Plus 500 Website

 

*** Your Capital Is At Risk. CFDs are leveraged products and can result in the loss of your capital. ***

Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents.

( Plus500 is not available to US Residents. )

Tips For New Currency Traders

Currency trading is possibly the easiest way to build your stock digital currencies, fast… but it’s also a good way to lose it all if you dive in unprepared. An even bigger risk is when you ‘get lucky’ early on and start to think you’ve got it all worked out…

You start to feel invincible and the temptation is to loosen stops, increase lot sizes and take bigger and bigger risks.

And quite often you’ll get away with it… for a while.

But rest assured that sooner or later, the market has a way of coming back to make you feel very, very human.

The thing is, almost every trader who blows up their account do so after a run of amazing success.

Don’t fall into that trap…

The better things are going, the more important your trading plan and money management become if you don’t want to become another statistic.

Whole books have been written on the psychology of trading and money management, so I won’t try to rehash all that in a single blog post, but I will share a few tips that might save you some pain. If you want ot dig deeper, find yourself a copy of Fooled By Randomness… essential reading for any trader in any market!

A Few Trading Tips To Get You Started…

Trade A Demo Account First. Everyone struggles with this… we all want to go live, especially if we are having some wins… but the process is invaluable as it’s teaching you trading patience.

Trading opportunities are like buses… if you miss one there will always be another one along soon after!

ALWAYS Trade With a Plan. If you don’t know you’re entry, your stop loss and your profit target, don’t take the trade until you do.

ALWAYS Trade With a Stop. It seems like common sense and everyone starts out using them religiously, but they are the first thing to go as your account balance starts to grow.

NEVER Move Your Stop. Decide your maximum risk before you enter any trade, and stick to it. If the trade goes against you, take the loss and move on.

ONLY Trade Funds You Can Afford To Lose. Again, common sense but I’ve seen plenty of people get into trouble charging up their credit cards, especially when they were eager to get back in after blowing up their account.

NEVER Risk More Than 2% Of Your Account On A Single Trade. That way you can sustain a run of 50 losses without blowing up your account.

The Trend Is Your Friend. Trading against the trend is higher risk and usually a sign of impatience. Most people will do better to wait out the retrace and enter in the direction of the trend.

A (Relatively) Simple Beginners Strategy…

If you are new to trading and you’re determined to trade cryptos, it’s safe to say that the long-term trend is LIKELY to be Bullish for most established currencies for the foreseeable future.

So a simple play is to look to buy on dips and hold the position long term…

Keep your lot size small so you can ride out any fluctuations and wait until the market moves well in your favour and then move your stop to a break even point.

Then look for your next entry…

Even with this approach, you want to have a trading context that tells you the trend is indeed up and the market is about to resume moving in that direction. Then you need a firm trading plan that identifies your entry point, your invalidation point (the price where you know you were wrong and it’s time to get out), and a logical profit target.

If any of those don’t mean anything to you, consider working though the following free training package before you risk your money!


Ready To Set Up A Trading Account?

We recommend AVA Trade. It’s a regulated broker with a proven 10-year track record. I offers competitive spreads, a generous welcome bonus and a great mix of platforms, free analysis, training and education. Even if you choose to shop around, take a minute to see what AVATrade offers and make that the benchmark you compare the rest too!

Check Out AVA Trade