If You Thought You Missed The Internet Profit Revolution Try CryptoCurrency

The news this week is that several banks in the US and UK have banned the use of credit cards to purchase cryptocurrencies (CC). The reasons given are unbelievable – as an attempt to curb money laundering, gambling and to protect the retail investor from excessive risk. Interestingly, banks will allow debit card purchases, making it clear that the only risks that are protected are their own.

With a credit card you can bet in a casino, buy guns, drugs, alcohol, pornography, anything and everything you want, but some banks and credit card companies want to ban you from using their facilities to buy crypto currencies? There must be some plausible reasons and they are NOT the reasons stated.

One thing banks fear is how difficult it would be to seize the CC’s holdings when the credit card holder defaults on payment. It would be much more difficult than repossessing a house or car. The private keys of a crypto wallet can be placed on memory or a piece of paper and easily taken out of the country, with little or no trace of its whereabouts. There may be a high value in some crypto wallets and the credit card debt may never be paid off, leading to bankruptcy and a significant loss to the bank. The wallet still contains the cryptocurrency and the owner can later access the private keys and use a local CC Exchange in a foreign country to convert and withdraw the money. A truly ugly scenario.

We certainly don’t support this kind of illegal behavior, but the banks are aware of the possibility and some of them want to shut it down. This can’t happen with debit cards because the banks are never out of your pocket – the money comes out of your account instantly and only if there’s enough money there to begin with. We struggle to find any honesty in the bank’s history of curbing gambling and risk-taking. Interestingly, Canadian banks are not jumping on this bandwagon, perhaps realizing that the reasons given for doing so are bogus. The result of these actions is that investors and consumers are now aware that credit card companies and banks do have the ability to limit what you can purchase with their credit card. This is not how they advertise their cards and is probably a surprise to most consumers who are used to deciding for themselves what to buy, especially from CC Exchanges and any other merchants who have established commercial agreements with these banks. The stock markets have done nothing wrong – and neither have you – but fear and greed in the banking industry is causing strange things to happen. This further illustrates the extent to which the banking industry feels threatened by cryptocurrencies.

At this point there is little cooperation, trust or understanding between the fiat world and the CC world. The CC world has no central control body where regulations can be enforced everywhere, and that leaves every country in the world trying to figure out what to do. China has decided to ban CCs, Singapore and Japan are accepting them, and many other countries are still scratching their heads. What they have in common is that they want to collect taxes on profits from CC investments. This is not very different from the early days of digital music, with the Internet facilitating the unlimited distribution and distribution of unlicensed music. Digital music licensing schemes were eventually developed and accepted because listeners were OK with paying a little for their music instead of endless piracy, and the music industry (artists, producers, record companies) was OK with reasonable licensing fees instead of nothing . Could there be a compromise in the future of fiat and digital currencies? As people around the world are fed up with unheard of bank profits and bank overreach in their lives, there is hope that consumers will be treated with respect and not forever burdened with high costs and unjustified restrictions.

Cryptocurrencies and Blockchain technology are increasing the pressure around the world to reach a reasonable compromise – this is a game changer.

Stay on the line!

Here’s a question that often comes up: How do I choose which cryptocurrency to invest in – aren’t they all the same?

There is no doubt that Bitcoin has captured the lion’s share of the cryptocurrency (CC) market, and this is largely due to its GLORY. This phenomenon is very similar to what happens in national politics around the world, where a candidate captures the majority of the vote based on GLORY rather than proven ability or qualifications to rule a nation. Bitcoin is the pioneer in this market space and continues to garner almost all the market headlines. This FAME doesn’t mean it’s perfect for the job, and it’s pretty well known that Bitcoin has limitations and issues that need to be addressed, but there is disagreement in the Bitcoin world about the best way to resolve the issues. As issues grow, there is a constant opportunity for developers to initiate new coins that address specific situations and thus differentiate themselves from the approximately 1,300 other coins in this market space. Let’s take a look at two Bitcoin rivals and how they differ from Bitcoin and from each other:

Ethereum (ETH) – The Ethereum coin is known as ETHER. The main difference from Bitcoin is that Ethereum uses “smart contracts”, which are entities to maintain accounts on the Ethereum blockchain. Smart contracts are defined by their creators and they can interact with other contracts, make decisions, store data and send ETHER to others. The performance and services they offer are provided by the Ethereum network, all of which is beyond what Bitcoin or any other blockchain network can do. Smart contracts can act as your autonomous agent, obeying your instructions and rules to spend currency and initiate other transactions on the Ethereum network.

Ripple (XRP) – This coin and the Ripple network also have unique features that make it much more than just a digital currency like Bitcoin. Ripple has developed the Ripple Transaction Protocol (RTXP), a powerful financial tool that allows exchanges on the Ripple network to transfer funds quickly and efficiently. The basic idea is to put money into “ports” where only those who know the password can unlock the funds. For financial institutions, this opens up huge opportunities as it simplifies cross-border payments, reduces costs and provides transparency and security. All this is done with creative and intelligent use of blockchain technology.

The mainstream media covers this market with breaking news almost every day, but there is little depth to their stories… they are mostly just dramatic headlines.

The Wild West show continues…

The selected 5 crypto/blockchain stocks are up on average with 109% from December 11/17. The wild swings continue with daily gyrating movements. Yesterday, South Korea and China were the latest to try to bring down the cryptocurrency boom.

On Thursday, South Korea’s justice minister, Park Sang-ki, sent global bitcoin prices temporarily crashing and virtual coin markets into turmoil when he reportedly said regulators were preparing legislation to ban trading in the cryptocurrency. Later that day, South Korea’s Ministry of Strategy and Finance, one of the main member agencies of the South Korean government’s cryptocurrency regulatory task force, came out and said that their department he does not agree with the Department of Justice’s premature announcement of a potential ban on cryptocurrency trading.

While the South Korean government says that cryptocurrency trading is nothing more than gambling and worries that the industry will leave many citizens in the poor house, their real concern is the loss of tax revenue. This is the same concern that every government has.

China has become one of the largest sources of cryptocurrency mining in the world, but now the government is rumored to be trying to regulate the electricity used by mining computers. Over 80% of Bitcoin mining electricity today comes from China. By shutting down miners, the government will make it harder for Bitcoin users to verify transactions. Mining operations will move elsewhere, but China is particularly attractive because of very low electricity and land costs. If China follows through on this threat, there will be a temporary loss of mining capacity, resulting in Bitcoin users seeing longer timers and higher transaction verification costs.

This wild ride will continue and like the internet boom, we will see some big winners and eventually some big losers. Also, like the Internet boom or the uranium boom, it’s those who get in early who will prosper, while mainstream investors always show up at the end, buying at the top.

Stay on the line!

Although there is no way to become a millionaire overnight, we have a few tricks to help you earn free BTC. However, keep in mind that these methods still require you to invest a lot of effort. If you’re not going to spend fiat, know that you still have to spend a lot of time doing simple tasks or exchanging your personal information. Read on to learn more.

1: Try faucets

Faucets are the easiest way to earn bitcoin online. Since it doesn’t require in-depth knowledge of cryptocurrencies, you can get started without any worries. All you need to do is have a valid email address and some time to invest.

The process:

First, you need to register. Then you have to enable the captcha, press the button and claim your satoshis. This will add a small amount of BTC to your balance. However, you must wait some time between each of your requests, which is at least 15 minutes. So you can repeat the same process on different websites to claim your rewards and add to your balance.

2: Check out pay to click sites

This method is quite simple. All you have to do is click and watch a lot of videos. In return, you will be paid BTC. Digital currencies have helped tremendously in the development of this business. The reason is that people from all over the world invest in these assets. These sites act as intermediaries between users and advertisers. And some of the revenue goes into the pockets of those who watch these ads.

3: Play browser games

If you are a gamer and spend hours playing your favorite games online, you should earn money from this activity. Some browser-based games allow you to earn bitcoins while you play and have fun.

Although it is not a boring activity like watching videos or ads, the rewards will be the same. So you should check this method as well.

4: Engage in mining

If you’re interested in mining, there’s a good chance you haven’t put in enough effort. Since most people no longer recommend mining to earn cryptocurrency, first make sure you buy a platform. Second, you must be prepared to pay high energy bills. But the method we are going to talk about is quite simple and cheap. In fact, you don’t have to spend a dime. The majority of miners are scammers. So you should try this method.

Here’s how you can do it. First, you need to install a browser that can use the power of your computer for mining. Once you set it up, you can continue surfing the web and make lots of BTC in the process. The good news is that you can install this software on your chrome browser. This browser is easy to use and offers high speed mining.

In short, these are the 4 easy mining methods. If you want to earn BTC without much effort, we suggest you try these simple and cost-effective methods. I hope this helps.

As we expected, after publishing Crypto TREND, we received many questions from readers. In this issue, we will answer the most common ones.

What changes are coming that could change the game in the cryptocurrency sector?

One of the biggest changes that will affect the cryptocurrency world is an alternative block validation method called Proof of Stake (PoS). We’ll try to keep this explanation fairly high-level, but it’s important to have a conceptual understanding of what the difference is and why it’s an important factor.

Remember that the underlying technology with digital currencies is called blockchain and most of the current digital currencies use a validation protocol called Proof of Work (PoW).

With traditional payment methods, you must trust a third party, such as Visa, Interact, or a bank or check clearing house, to settle your transaction. These trusted entities are “centralized,” meaning they keep their own private ledger that stores the transaction history and balance of each account. They will show you the transactions and you have to agree that it is correct or start a dispute. Only the parties to the transaction see it.

With Bitcoin and most other digital currencies, the ledgers are “decentralized,” meaning that everyone on the network gets a copy, so no one has to trust a third party, like a bank, because anyone can directly verify the information. This verification process is called “distributed consensus”.

PoW requires “work” to be done to confirm a new transaction to enter the blockchain. In cryptocurrencies, this validation is done by “miners” who must solve complex algorithmic problems. As algorithmic problems become more complex, these “diggers” need more expensive and more powerful computers to solve the problems before everyone else. “Mining” computers are often specialized, typically using ASIC chips (application specific integrated circuits) that are more adept and faster at solving these difficult puzzles.

Here is the process:

• Transactions are grouped together in a “block”.
• Miners verify that the transactions in each block are legitimate by solving the hashing algorithm puzzle known as the “proof-of-work problem.”
• The first miner to solve the block’s “proof of work problem” is rewarded with a small amount of cryptocurrency.
• Once verified, transactions are stored on the network-wide public blockchain.
• As the number of transactions and miners increases, so does the difficulty of solving hashing problems.

While PoW helped launch blockchain and decentralized, trustless digital currencies, it has some real drawbacks, especially with the amount of electricity these miners consume trying to solve “proof-of-work problems” as quickly as possible. According to Digiconomist’s Bitcoin Energy Consumption Index, Bitcoin miners use more energy than 159 countries, including Ireland. As the price of each bitcoin rises, more and more miners try to solve the problems, consuming even more energy.

All of this energy consumption just for validating transactions has motivated many in the digital currency space to look for an alternative method to validate blocks, and the leading candidate is a method called Proof of Stake (PoS).

PoS is still an algorithm and the goal is the same as proof of work, but the process to achieve the goal is completely different. With PoS, there are no miners, but instead we have “validators”. PoS relies on trust and the knowledge that all the people validating transactions have skin in the game.

Thus, instead of using energy to answer PoW puzzles, the PoS validator is limited to validating a percentage of transactions that reflects his or her ownership stake. For example, a validator who owns 3% of the available ether can theoretically only validate 3% of the blocks.

In PoW, the chances of solving the proof-of-work problem depend on how much computing power you have. With PoS, it depends on how much cryptocurrency you have at “stake”. The higher your bet, the better the chances of solving the block. Instead of earning crypto coins, the winning validator receives transaction fees.

Validators enter their stake by “locking up” a portion of their stock tokens. If they try to do something malicious against the network, such as creating an “invalid block”, their stake or security deposit will be forfeited. If they do their job and don’t break the network, but don’t earn the right to validate the block, they will get their stake or deposit back.

If you understand the basic difference between PoW and PoS, that’s all you need to know. Only those who plan to be miners or validators need to understand all the ins and outs of these two validation methods. The majority of the general public who wish to own cryptocurrencies will simply buy them through an exchange and not be involved in the actual mining or validation of block transactions.

Most in the crypto sector believe that for digital currencies to survive in the long term, digital tokens must move to a PoS model. At the time of writing this post, Ethereum is the second largest digital currency after Bitcoin and their development team has been working on their PoS algorithm called “Casper” for the past few years. It is expected that we will see Casper implemented in 2018, putting Ethereum ahead of all other major cryptocurrencies.

As we have seen before in this sector, big events like the successful implementation of Casper can lead to much higher Ethereum prices. We will keep you updated in future editions of Crypto TREND.

Stay on the line!

In the early days of its launch in 2009, several thousand bitcoins were used to buy pizza. Since then, the cryptocurrency’s meteoric rise to $65,000 in April 2021, following its heart-stopping drop in mid-2018 by around 70 percent to around $6,000, has boggled the minds of many people – crypto investors, traders or just curious who missed the boat.

How it all started

Note that dissatisfaction with the current financial system led to the development of digital currency. The development of this cryptocurrency is based on blockchain technology by Satoshi Nakamoto, a pseudonym apparently used by a developer or group of developers.

Despite many opinions predicting the death of cryptocurrency, Bitcoin’s performance has inspired many other digital currencies, especially in recent years. The crowdfunding boom fueled by blockchain fever has also attracted those seeking to defraud the unsuspecting public, and this has caught the attention of regulators.

Beyond Bitcoin

Bitcoin has inspired the launch of many other digital currencies. There are currently more than 1,000 versions of digital coins or tokens. Not all of them are the same, and their values ​​vary widely, as does their liquidity.

Coins, Altcoins and Tokens

At this point, it will suffice to say that there are subtle differences between coins, altcoins, and tokens. Altcoins or altcoins usually describe something other than the pioneer bitcoin, although altcoins such as ethereum, litecoin, ripple, dogecoin, and dash are considered the “mainstream” category of coins, meaning they are traded on more cryptocurrency exchanges.

Coins serve as a currency or store of value, while tokens offer the use of assets or utilities, an example being a supply chain management blockchain service to validate and track wine products from the winery to the consumer.

It should be noted that low-value tokens or coins offer upside opportunities, but don’t expect the same meteoric increases as Bitcoin. Simply put, lesser-known tokens may be easy to buy, but may be difficult to sell.

Before getting into cryptocurrency, start by learning the value proposition and technology considerations, namely the trading strategies outlined in the white paper accompanying any Initial Coin Offering or ICO.

For those familiar with stocks and shares, this is no different than an initial public offering or IPO. However, IPOs are issued by companies with tangible assets and business experience. Everything is done in a regulated environment. On the other hand, an ICO is based entirely on an idea proposed in a white paper by a business – not yet operational and with no assets – that is looking for start-up funds.

Unregulated so buyers beware

“One cannot regulate the unknown” probably sums up the digital currency situation. Regulators and regulations are still trying to catch up with the ever-evolving cryptocurrencies. The golden rule in the crypto space is caveat emptor, let the buyer beware.

Some countries maintain an open-mindedness by adopting a no-action policy on cryptocurrencies and blockchain applications, while keeping an eye out for detected scams. Yet there are regulators in other countries who are more concerned about the downsides than the upsides of digital money. Regulators are generally aware of the need to strike a balance, and some are looking at existing securities laws to try to deal with the many flavors of cryptocurrency globally.

Digital Wallets: The First Step

A wallet is essential to get started with cryptocurrency. Think electronic banking, but minus the protection of the law in the case of virtual currency, so security is the first and last thought in the crypto space.

Wallets are of digital type. There are two types of wallets.

• Hot wallets that are connected to the Internet that expose users to the risk of hacking

• Cold wallets that are not connected to the internet and are considered more secure.

Apart from the two main types of wallets, it should be noted that there are wallets for only one cryptocurrency and others for multi-cryptocurrency. There is also the option of having a multi-signature wallet, somewhat similar to having a joint bank account.

The choice of wallet depends on the user’s preference whether the interest is purely Bitcoin or Ethereum, as each coin has its own wallet, or you can use a third-party wallet that includes security features.

Wallet notes

A cryptocurrency wallet has a public and private key with private records of transactions. The public key includes a reference to the account or address in cryptocurrency, not unlike the name needed to receive a check payment.

The public key is available for everyone to view, but transactions are confirmed only after verification and validation based on the consensus mechanism applicable to each cryptocurrency.

The private key can be thought of as a PIN, which is commonly used in electronic financial transactions. It follows that the user should never reveal the private key to anyone and make backup copies of this data that should be stored offline.

It makes sense to have minimal cryptocurrency in a hot wallet, while the larger amount should be in a cold wallet. Losing your private key is as good as losing your cryptocurrency! The usual safeguards for online financial transactions apply, from having strong passwords to being on the lookout for malware and phishing.

Wallet formats

Different types of wallets are available according to individual preferences.

• Hardware wallets made by third parties that must be purchased. These devices work somewhat like a USB drive, which is considered safe and only connects to the internet when needed.

• Web-based wallets, such as those provided by crypto exchanges, are considered hot wallets that expose users to risk.

• Software-based wallets for desktop or mobile are mostly available for free and may be provided by coin issuers or third parties.

• Paper wallets can be printed carrying the relevant data of the cryptocurrency held with public and private keys in QR code format. They should be kept in a safe place until they are needed in the course of the crypto transaction and copies should be made in case of mishap such as water damage or fading of printed data over time.

Crypto exchanges and markets

Crypto exchanges are trading platforms for those interested in virtual currencies. Other options include direct trading websites between buyers and sellers, as well as brokers, where there is no “market” price, and it is based on a compromise between the parties to the transaction.

Hence, there are many crypto exchanges located in different countries but with different standards of security practices and infrastructure. They range from those that allow anonymous registration, requiring only an email to open an account and start trading. Still, there are others that require users to comply with international identity verification, known as Know-Your-Customer, and anti-money laundering (AML) measures.

Choosing a crypto exchange depends on the user’s preferences, but anonymous ones may have restrictions on the scope of allowed trading or may be subject to sudden new regulations in the exchange’s country of residence. Minimal administrative procedures with anonymous registration allow users to start trading quickly, while going through KYC and AML processes will take longer.

All crypto transactions must be properly processed and validated, which can take anywhere from a few minutes to a few hours, depending on the coins or tokens being transacted and the volume of the trade. Scalability is known to be a problem with cryptocurrencies and developers are working on ways to find a solution.

Cryptocurrency exchanges fall into two categories.

• Fiat Cryptocurrency Such exchanges provide the purchase of fiat cryptocurrency through direct transfers from bank or credit and debit cards, or through ATMs in some countries.

• Cryptocurrency only. There are cryptocurrency-only crypto exchanges, meaning that customers must already own a cryptocurrency – such as Bitcoin or Ethereum – in order to be “exchanged” for other coins or tokens, based on the market rate

Fees are charged to facilitate the buying and selling of cryptocurrencies. Users should do their research to be satisfied with the infrastructure and security measures and determine the fees that are convenient as different rates charged by different exchanges.

Don’t expect a common market price for the same cryptocurrency with different exchanges. It may be worth your while to research the best price for coins and tokens that are of interest to you.

Financial transactions online carry risks, and users should consider warnings such as two-factor authentication or 2-FA, update themselves on the latest security measures, and be aware of phishing scams. A golden rule of thumb for phishing is to not click on provided links, no matter how authentic a message or email is.

Cryptocurrency has been a hot topic around the world for the past few years. Most people are already familiar with cryptocurrency, especially Bitcoin. As a matter of fact, Bitcoin tops the list of cryptocurrencies. If you have no idea why cryptocurrency is gaining popularity globally, you are on the right page. In this article we will discuss 5 reasons why this new type of currency is so popular. Read on to learn more.

1. Low transaction fees

The low transaction fee is one of the main reasons why the cryptocurrency has grown in value over the past few years. No matter what type of conventional payment method you choose, you will have to pay a hefty transaction fee.

On the other hand, if you choose cryptocurrency to make payments, you will have to pay minimal transaction fees. Therefore, it makes sense to use this new form of currency to make payments online for your desired products and services.

2. There is no state regulation

Another solid reason why many people trust cryptocurrencies is that they are not regulated by any government. Therefore, the value of the currency remains stable regardless of the government of a particular country.

Also, some investors want to protect their wealth, which is why they invest in cryptocurrencies. In other words, cryptocurrencies are much safer than conventional currencies, which makes them quite attractive here and now.

3. Great earning potential

Another big reason why cryptocurrencies are an ideal choice is that they offer great earning potential. If you buy Bitcoin when prices are low, you can make a lot of money the moment the value of Bitcoin rises again.

Investors have made a lot of money over the past few years. So the potential is there if you are interested in investing in your desired cryptocurrency.

4. Easier to use

As time goes by, it becomes easier to use cryptocurrency. The reason is that many online companies are starting to accept payments through this type of currency. In the near future, almost every company will accept payment through popular cryptocurrencies.

As more and more people start using cryptocurrency around the world, it will be even easier to buy the currency and make your payments online.

5. Comprehensive security

Your money and identity are paramount. Cybersecurity is one of the biggest issues you may face today. So using cryptocurrency to make payments online is much safer than conventional payment methods.

So if you’re worried about making payments online, we suggest you try cryptocurrency. In other words, security is another great reason why people use cryptocurrency.

In short, these are 5 reasons why cryptocurrency is so popular around the world. All you need to do is make sure you choose one of the best cryptocurrencies. It is not a good idea to put your hard earned money into a currency that has no growth potential.

Introduction: To Invest in Cryptocurrencies

The first cryptocurrency to emerge was Bitcoin, which was built on Blockchain technology and was probably launched in 2009 by a mysterious person, Satoshi Nakamoto. At the time of writing this blog, 17 million bitcoins have been mined and it is estimated that a total of 21 million bitcoins can be mined. The other most popular cryptocurrencies are Ethereum, Litecoin, Ripple, Golem, Civic and hard forks of Bitcoin such as Bitcoin Cash and Bitcoin Gold.

Users are advised not to put all their money into one cryptocurrency and try to avoid investing at the peak of the cryptocurrency bubble. It has been observed that the price suddenly dropped when it was at the top of the crypto bubble. Since cryptocurrency is a volatile market, users should invest the amount they can afford to lose as there is no government control over cryptocurrency as it is a decentralized cryptocurrency.

Steve Wozniak, co-founder of Apple predicted that Bitcoin is real gold and will dominate all currencies like USD, EUR, INR and ASD in the future and become the world currency in the coming years.

Why and why not invest in cryptocurrencies?

Bitcoin was the first cryptocurrency to emerge and after that around 1600+ cryptocurrencies were launched with some unique features for each coin.

Some of the reasons I experienced and would like to share, cryptocurrencies are built on the decentralized platform – so users don’t require a third party to transfer cryptocurrency from one destination to another, unlike fiat currency where the user needs a platform like a bank to transferring money from one account to another. Cryptocurrency built on very safe blockchain technology and almost zero chance of hacking and stealing your cryptocurrencies as long as you don’t share your important information.

You should always avoid buying cryptocurrencies at the highest point of a cryptocurrency bubble. Many of us buy cryptocurrencies at their peak hoping to make a quick buck and fall prey to the hype of the bubble and lose our money. It is better for users to do a lot of research before investing the money. It is always good to put your money in several cryptocurrencies instead of one as few cryptocurrencies have been observed to grow more, some on average, if other cryptocurrencies go into the red zone.

Cryptocurrencies in focus

In 2014, Bitcoin held 90% of the market and other cryptocurrencies held the remaining 10%. In 2017, Bitcoin still dominated the crypto market, but its share fell sharply from 90% to 38%, and altcoins such as Litecoin, Ethereum, Ripple grew rapidly and took most of the market.

Bitcoin still dominates the cryptocurrency market, but it is not the only cryptocurrency to consider while investing in cryptocurrency. Some of the main cryptocurrencies to consider:

Bitcoin

Litecoin

pulsations

Ethereum

Throne

Civil

A big one

Monero

Where and how to buy cryptocurrencies?

While it was not easy to buy cryptocurrencies a few years ago, now users have many platforms available.

In 2015, India has two main bitcoin platforms Unocoin wallet and Zebpay wallet where users can buy and sell only bitcoins. Users should only buy Bitcoin from the wallet and not from another person. There was a price difference in the buying and selling rate and users had to pay some nominal fee to make their transactions.

In 2017, the cryptocurrency industry grew tremendously and the price of Bitcoin skyrocketed, especially in the last six months of 2017, which forced users to look for alternatives to Bitcoin and crossed 14 lakhs in the Indian market.

As Unodax and Zebpay are the two major platforms in India that dominated the market with 90% of the market share – which only dealt with Bitcoin. This enables other organization to grow with other altcoins and even forced Unocoin and others to add more currencies to their platform.

Unocoin, one of India’s leading cryptocurrency and blockchain companies, has launched an exclusive UnoDAX Exchange platform for its users to trade multiple cryptocurrencies apart from trading Bitcoins on Unocoin. The difference between the two platforms was – Unocion provided instant buying and selling of Bitcoin only, while in UnoDAX, users can place an order in any available cryptocurrency and if it matches the recipient, the order will be fulfilled.

Other major exchanges available for cryptocurrency trading in India are Koinex, Coinsecure, Bitbns, WazirX.

Users have to open an account with any exchange by registering with an email address and submitting the KYC details. Once their account is verified, one can start trading coins of their choice.

Users should do their research before investing in coins and avoid falling into the cryptocurrency bubble trap. Users should explore the exchange’s reliability, transparency, security features, and more.

All exchanges charge some nominal fee for each transaction. There are two types of fees – creation fee and claim fee. Apart from the transaction fee, one has to pay the transfer fee if you want to transfer your cryptocurrencies to another exchange or your personal wallet. The fees depend solely on the coins and the exchange as different exchange has a price difference module to transfer the coins.

Major altcoins other than Bitcoin

As mentioned above, Bitcoin dominates the market with 38% market share, followed by Ripple, Ethereum, Litecoin, Bitcoin Cash. Exchanges like UnoDAX, Bitfinex, Kraken, Bitstamp have listed many other coins like Golem, Civic, Raiden Network, Kyber Network, Basic Attention, 0X, Augur, Monero, Tron and many more. If any of the coins matches your portfolio, you should buy it.

But you should invest the money in the market that you can afford to lose because the cryptocurrency market is very volatile and no government has control over it.

When should I buy?

There is no hard and fast rule when to buy your favorite cryptocurrency. But the stability of the market must be examined. You shouldn’t, except at the peak of a cryptocurrency bubble or when the price is constantly crashing. Always the best time is considered when the price is stable at a relatively low level for some time.

A method of storing cryptocurrencies

Before buying any cryptocurrency, you need to understand how to keep your cryptocurrency safe.

Generally, all exchanges provide storage facilities where you can store your coins safely. One should not share one’s username, password, 2FA when holding cryptocurrency on exchanges.

Paper wallet, hardware wallet, software wallet are some of the channels where one can store his cryptocurrency.

Paper Wallet: A paper wallet is an offline cold storage method to keep your cryptocurrency. It prints your private and public key on a piece of paper where a QR code is also printed. One has to simply scan the QR code for their future transactions. Why is it safe? No need to worry about your account being hacked or being attacked by malicious malware. You just need to keep your piece of paper in a safe place in a locker and, if possible, keep two to three pieces of paper in the wallet, all under your complete control.

Hardware Wallet: A hardware wallet is a physical device where you store cryptocurrency safely. There are many forms of hardware wallet, but a commonly used hardware wallet is USB. When you keep your cryptocurrency in a hardware wallet, you just have to keep in mind that you should not lose your hardware wallet because once it is lost, you cannot retrieve your cryptocurrency.

One famous incident where a person mined over 7000 bitcoins and stored it in his hardware wallet and stored it in another hardware wallet. One day he dropped the hardware wallet in which he stored his cryptocurrency instead of damaged hardware and lost all his bitcoins.

What can be bought from cryptocurrencies in India?

Most people assume that buying and selling any cryptocurrency is only for investment and getting high returns in the long and short term. Bitcoin influencers and investors believe that in the coming years, Bitcoin will dominate all fiat currencies and be accepted as an international currency.

Dell is one of the largest e-commerce businesses accepting Bitcoin as payment. Expedia and UNICEF are other examples.

In India, Sapna Book Mall accepts Bitcoin as payment using the Unocoin merchant service. People booked movie tickets through BookMyShow or recharged their mobile phone through the Unocoin platform. According to the report, they have stopped the service but plan to start it again in the near future.

Conclusion:

Cryptocurrency is one of the growing investment sectors and has given good returns from real estate, gold, stock markets, etc. in the past. You can buy the cryptocurrency and hold it long term to get good profits or go short term for a quick profit as we have seen many coins grow 1000%+ in the past. Because cryptocurrency is a volatile market and there is no government control over the industry. One should invest the amount in any cryptocurrency that one can afford to lose.

You can store your cryptocurrency in a hardware wallet, paper wallet, software wallet if you don’t want to hold on the exchange you trade from.

There are different types of cryptocurrency wallets that allow users to store and access their digital currencies in different ways. The question that is relevant in this context is how secure these wallets are. Before looking at the security aspect, it is helpful to understand the different types or varieties of cryptocurrency wallets that exist today.

Cryptocurrency Wallet: Types and Varieties

These wallets can be broadly classified into 3 categories:

• Software wallets
• Hardware wallets and
• Paper wallets

Cryptocurrency software wallets can again be subdivided into desktop, online, and mobile wallets.

• Desktop Software Wallets: These wallets are designed to be downloaded and installed on desktops and laptops. This particular variety offers the highest level of security, although their availability is limited only to the computer on which they are installed. Also, in case the computer is hacked or infected with a virus, there is a possibility that one will lose all their money.
• Online Software Wallets: This range of cryptocurrency wallets runs on the cloud. Thus, they can be easily accessed from any computing device and from any geographical location. Apart from the convenience of accessibility, this type of digital wallet stores the private keys online. The keys are even controlled by third parties; this makes them easily vulnerable to hacking and theft.
• Mobile Software Wallets: Unlike the other two varieties, mobile software wallets operate on smartphones via an app. They can easily be used anywhere, including shops and malls. This range of wallets is usually much simpler and smaller compared to normal desktops to accommodate the very limited space of mobile phones.

Difference between hardware and software wallets

Hardware digital wallets differ from software wallets in terms of storing the user’s private keys. Hardware wallets store user keys on a hardware device (e.g. USB). Thus, since the keys are stored offline, these wallets offer additional security. Additionally, hardware wallets are easily compatible with many online interfaces and can also handle different currencies. This variety of cryptocurrency wallets is also easy to transact. As a user, you simply need to plug the device into any computer that is connected to the network before entering the PIN, transferring the currency and simply confirming the transaction. Your digital currency is maintained offline by the hardware wallets and thus the risk factor or security concern is also much less.

Paper Digital Wallets: This range of digital wallets is also user-friendly and ensures a high level of security. The term “paper wallet” refers only to the paper printout of the user’s public and private keys. However, given the cases, this can also apply to a software application designed to securely generate the keys before printing.

Sweeping with paper wallets

Using paper wallets is relatively easier. To transfer any cryptocurrency to your paper wallet, simply transfer the funds from the software wallet to the public address displayed on your paper wallet. Likewise, when you want to spend or withdraw your money, simply transfer the funds from the paper wallet to your software wallet. This procedure is popularly called “sweeping”.

Clearing can be done manually by entering the private keys or scanning the QR code on a paper wallet.

How secure are cryptocurrency wallets?

Different varieties of digital wallets offer different levels of security. The security aspect mainly depends on two factors:

• The type of wallet you use – hardware, paper, online, desktop or mobile
• Selected service provider

Needless to mention, it is much safer to store currencies in an offline environment compared to online. There is simply no way you can ignore security measures regardless of the wallet you choose. If you lose your private keys, all the money stored in the wallet will disappear from your hands. On the other hand, if the wallet is hacked or you transfer funds to a fraudster, it will not be possible to reverse the transaction, nor to get that money back.

Investing in cryptocurrency is a smart business idea and for that, using a suitable wallet is inevitable. You just need to be a little cautious to ensure the safety and security of your money transfers and transactions.

If you are looking for a good alternative to cash and credit cards, you can try cryptocurrency. Today this currency is quite popular all over the world. Many companies now accept cryptocurrency payments just like regular currency. Bitcoin is one of the most popular cryptocurrencies, which is why a large number of people invest money in Bitcoin. Powered by Blockchain, you can transact without any security risks. In this article, we will discuss some of the most notable advantages of cryptocurrency.
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Easy transactions

If you often deal with legal representatives and brokers, you know that they charge high fees for each transaction. In addition, you have to pay for many documents, commissions and brokerage services.

On the other hand, if you use cryptocurrency, you can cut out all the middlemen. You will use a secure network to conduct all your transactions. Every transaction is transparent and will not involve high transaction fees.
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Asset Transfers

It is easy to transfer ownership of cryptocurrency from one person to another. Blockchain is behind all ecosystems. Therefore, you can do all your transactions in a safe and secure environment.

The good thing about cryptocurrency is that it allows you to add third-party approval for future payments. If you have this currency, you can easily transfer assets without any problem.

Confidential Transactions

In the case of money or credit, there is a record of every transaction. And these records are also stored at the bank where you have your account. Every time you make a transaction, your bank keeps a record of it. Even if you are a business owner, your bank knows how much money you have in your bank account. This is not good from a privacy perspective.

The beauty of cryptocurrencies is that every transaction is unique. Every deal includes negotiation terms. There is a push concept that provides the basis for information exchange. Nothing will be disclosed to the recipient except as authorized by you. This way you will have complete privacy and identity protection.

Low transaction fee

If you check your bank statement, you’ll be amazed to see that your bank has charged you a transaction fee for every single transaction you’ve made so far. If you do a lot of transactions every day, the total amount of bank charges will be quite high.

On the other hand, transaction fees in case of cryptocurrency are very low. However, if you hire the services of a third party to maintain your crypto wallet, you may have to pay for that service. However, these fees are much lower compared to the fees charged by conventional banks.

Peace of mind

You can use the internet to transfer cryptocurrency with complete peace of mind. In truth, anyone can use this service as long as they have access to the internet. All you need to do is have a basic knowledge of the cryptocurrency network. In short, these are just some of the main benefits of using cryptocurrency.

Cryptocurrencies are the latest ‘big thing’ in the digital world and are now recognized as part of the monetary system. In fact, enthusiasts have labeled it the “money revolution”.
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Put plainly, cryptocurrencies are decentralized digital assets that can be exchanged between users without the need for a central authority, most of which are created through special computing techniques called “mining.”

The acceptance of currencies such as the US dollar, the British pound and the euro as legal tender is because they were issued by a central bank; however, digital currencies, like cryptocurrencies, do not rely on the public’s trust and confidence in the issuer. As such, several factors determine its value.
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Factors that determine the value of cryptocurrencies

Principles of a free market economy (mainly supply and demand)
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Supply and demand is a major determinant of the value of anything of value, including cryptocurrencies. This is because if more people are willing to buy a cryptocurrency and others are willing to sell, the price of that particular cryptocurrency will increase and vice versa.
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Mass adoption

Mass adoption of any cryptocurrency can shoot its price to the moon. This is because the supply of many cryptocurrencies is limited to a certain limit, and according to economic principles, an increase in demand without a corresponding increase in supply will lead to an increase in the price of that particular commodity.
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Many cryptocurrencies have invested more resources to ensure their mainstream adoption, with some focusing on the applicability of their cryptocurrency to pressing personal life issues as well as crucial everyday cases, with the intention of making them indispensable in everyday life.
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Fiat inflation

If a fiat currency, such as the USD or GBP, becomes inflated, its price rises and its purchasing power falls. This will then cause cryptocurrencies (let’s use Bitcoin as an example) to increase relative to that fiat. The result is that you will be able to acquire more of this fiat with each bitcoin. In fact, this situation is one of the main reasons for the increase in the price of Bitcoin.
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History of fraud and cyber attacks

Scams and hacks are also major factors affecting the value of cryptocurrencies, as they are known to cause unusual fluctuations in valuations. In some cases, the team supporting a cryptocurrency may be the scammers; they will pump up the price of the cryptocurrency to attract unsuspecting individuals and when their hard-earned money is invested, the price is reduced by the scammers who then disappear without a trace.
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That’s why it’s imperative to be wary of cryptocurrency scams before investing your money.

Some other factors to consider that affect the value of cryptocurrencies include:

• The manner in which cryptocurrency is stored, as well as its utility, security, ease of acquisition and cross-border acceptability
• The strength of the community supporting the cryptocurrency (this includes funding, innovation and loyalty of its members)
• Low associated risks of cryptocurrency as perceived by investors and users
• Journalistic mood
• Cryptocurrency market liquidity and volatility
• Government regulations (this includes the ban on cryptocurrency and ICOs in China and its acceptance as legal tender in Japan)