Adequate support for bitcoin could be gained as British bank Coinbase launched the pound for the San Francisco-based exchange. Previously, users trading in cryptocurrencies had to convert pounds to euros, and vice versa, to trade on exchanges and to switch between currencies required an extra 10 pounds for each transaction. The introduction of the new bank will reduce exchange fees and encourage faster payments. The company, which was previously part of Barclays, obtained its e-company license in March. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essayMany new users signing up for cryptocurrency trading suffered from trading issues, and customers complained that depositing was easier than withdrawing. The exchange asks users to go through the verification process before getting paid and hence, many users are unable to withdraw cryptocurrencies and have left the currency in their account. Over the past three years, various transaction issues and lack of recognition of the currency have led to a reduction in bitcoin rates by more than 10%. The recognition of Coinbase in the UK and the process of developing regulations to identify this currency are showing positive trends for bitcoin. Bitcoin Markets Bitcoin trading is highly unpredictable where prices fluctuate instantly. Currency mania calmed down in 2017, after peaking. Cryptocurrencies are mostly traded as a commodity in markets, and the technology uses extreme mathematical calculations processed by supercomputers to produce them. It is generated via Blockchain and the mechanism adopted by supercomputers cannot be easily tampered with. Therefore, blockchain is believed to be reliable and secure. The technology allows currency buyers to view transaction details making the transaction transparent. The currency was launched in 2009 to enable online monetary transactions, and its value increased in the following years from $10 to $20,000 in 2017, as many contemporary buyers purchased the currencies. Goldman Sachs has supported the currency as a diversification mechanism. It has been the subject of controversy in recent years. Online fraud is on the rise and clone finance companies are now trading it through websites which appear to be FCA registered websites but which may be a scam targeting many customers. The UK government started GFIN to promote collaboration between organizations to reduce cryptocurrency fraud. Please note: this is just an example. Get a custom paper from our expert writers now. Get a custom essay. Bitcoin can be purchased from Coinbase, Exodus, Blockchain and some other websites and can be saved in the account. It can be purchased in fractions at lower prices to keep it in your wallet. You can set notifications to be reminded when the value drops below certain points during the trade. Its value ranged between $6000 and $7000 in 2018, and experts believe that cryptocurrencies will be accepted worldwide by the fourth quarter of 2018, or some regulations will be established for trading these currencies. Some investors suspect that the price will remain stuck in the $6,000 to $7,000 range. Investors and authorities believe that these currencies are highly susceptible to risk factors such as hacking where hackers can access coin dealers and instantly create or destroy wallets in different geographical locations.