Home

Bitcoin

Tag: hardware wallet

Top 3 Products To Use For Earning Maximum Profits During Bitcoin Halving

Posted on by Bob Coiney

Bitcoin halving is fast approaching and it brings ample opportunities for earning profits. The volatility and speculation around the possible price movements can enable traders to make profits in a very short span of time. Bitcoin halving is a key feature that occurs every four years to create scarcity by halving new bitcoins per block. This is the third halving since the arrival of bitcoin in 2009. The previous two halvings resulted in a massive bullish trend for cryptocurrency.

The bitcoin halving generates a lot of attention attracting retail and new investors leading to a further rise in price. These can create massive opportunities for traders to maximize their profits. To help you reach your goals, here are top 3 products you should use to get the most out of bitcoin halving.

Koinfox

Koinfox is a first of its kind investment platform and exchange developed for common investors. This intelligent trading platform will allow you to invest in top exchanges globally with a click of a button. Imagine being able to place an order with no lag in time of volatility and generate profit instantly. Koinfox enables you to trader conveniently and quickly using its advanced order types and automation tools.  Presently, you can trade on Binance, KuCoin, and CoinDCX using this platform.

You can also reduce your risk by using the trailing stop loss feature provided by the platform. Additionally, there are multiple advanced order types that will empower you to implement your trading strategy without any associated hassles. You name it and Koinfox has it – you can place market or limit order with multiple target exits, or place an order with exits at desired profit levels, or even place conditional entry & exit orders.

If you are someone who would want to trade during bitcoin halving from your mobile phone while at work, Koinfox has got your covered. The mobile app offers features such as placing advanced orders, managing the portfolio and managing trade positions while ensuring secure exchange access. At this point in time, it is also offering special cashback. Check it out now.

Cryptominded

Bitcoin halving is an event that draws in new users who have never used cryptocurrency or blockchain technology. If you are new to the crypto space or are someone who wants to dive a bit deeper into cryptocurrencies before your start trading, then Cryptominded is the platform for you. It has all the resources that one would need to become an expert in cryptocurrencies. You can explore their guides, newsletters, and other resources to know everything you want to about cryptocurrencies.

Hardware Wallets

Not all investors are in for instant trading, some believe in purchasing before bitcoin halving and wait a few months before exiting with huge profits. For such investors, hardware wallets are essential cryptocurrency products to safeguard their assets. Veteran traders and investors know that leaving you funds on an exchange is never a good idea. Even if the exchange is renowned or has insurance against hacking, your funds are never completely safe.

The best and most secure way to store your crypto assets is by using hardware wallets. These are offline devices and cannot be hacked unless the hacker has physical access to the device. Ledger Nano S, Trezor, and KeepKey are some of the well-known hardware wallets to store your funds.

Bitcoin is not immune to corrections and volatility, but bitcoin halving is that uncertain time period that occurs every four years where smart traders make a lot of money. You can too maximize your profit using these 3 products.

Disclaimer: This article is for information only and should not be taken as investment advice.

Image Source – Pixabay

A Beginner’s Guide in Cryptocurrency Investing

Posted on by Gregg

One of the most popular financial assets to invest in right now is cryptocurrency. These assets are created with blockchain technology that more or less serves the same purpose as traditional money including purchasing items. Like foreign exchange, crypto coins can also be traded for other currencies for profit.

While there are some critiques about its stability, there’s no doubt that many financial institutions are slowly warming up to the idea of trading crypto coins with security assets and regulations already in the works of various governments and financial institutions. Cryptocurrency investing is really something that traders all around the world are considering.

To start a probable career, here’s a guide on cryptocurrency investing for beginners:

What is Cryptocurrency?

Cryptocurrency or crypto coins are digital coins that serve the same function as traditional money which can be used to purchase items and other assets. However, unlike traditional coins, crypto coins don’t have a physical form and instead are run by blockchain technology.

Blockchain is like a digital ledger where it comprises of the coin’s entire history including its transactions from the very beginning.

When it comes to storing your cryptocurrency, you would also need a wallet much like your own local currency. However, crypto coins are different from traditional money because it’s decentralized, which means that no single authority is responsible for its circulation. Its unregulated and decentralized nature contributes to its volatile and fluctuating value, but it also means that it’s open for everyone to invest into.

What are the different kinds of cryptocurrency?

According to Coin Market Cap, there’s at least 2,125 crypto coins currently available in the market. However, not all crypto coins are the same since certain types are more in demand than others. To start, here’s a list of the most commonly traded crypto coins today:

1. Bitcoin (BTC)

Bitcoin or BTC is considered as the original cryptocurrency, Bitcoin uses blockchain technology to make transparent transactions between parties. While they’re easily accessible, their features are also secured by an added algorithm which prevents malicious hackers from destroying the blockchain feature.

Bitcoin is considered to be the predecessor of all other cryptocurrencies, which is why the other crypto coins are called altcoins or alternative coins. Basically, these are alternative currencies to Bitcoin; however, these altcoins aren’t inferior in terms of blockchain technology and usability or function.

2. Litecoin (LTC)

Litecoin or LTC is an alternative of BTC which includes starking differences in features. Some of which include:

  • Faster transaction speed
  • An 84 million limit
  • A different algorithm called scrypt

3. Ethereum (ETH)

Ethereum or ETH are digital coins primarily focusing on running and validating the programming code of any decentralized application, allowing it to be used in paying fees and other services on its own network. Ethereum is the most commonly used coin when dealing with ICOs or Initial Coin Offerings because its blockchain technology allows the use of smart contracts.

4. Ripple (XRP)

Ripple or XRP is a unique hybrid that is both a cryptocoin and a payment network for various institutions. They allow any currency to be exchanged which can range from USD, EUR, and even gold to connect to banks. However, unlike other crypto coins, Ripple doesn’t focus on peer-to-peer sharing but instead on moving sums of money to a larger institution.

Each of which share similar decentralized nature but have different components for several purposes.

How do I start investing in cryptocurrency?

After deciding on which cryptocurrency you should start dealing with as well as researching on the different investments you want to make. Here are the steps you need to start:

1. Start exchanging from platforms where you can buy crypto coins

Depending on the country you’re from, there are various sites that allow you to purchase Bitcoin, Ethereum, and other digital coins. Before starting, make sure it’s legal in your country since certain governments are still wary of trading crypto coins. If you can’t find sites that sell cryptocoins, consider peer-to-peer platforms like:

  • PayPal
  • Payza
  • Payoneer

Some Forex platforms also allow cryptocurrency trading so be on the lookout for those, as well.

2. Secure your coins in your cryptocurrency wallet

A cryptocurrency wallet is software that allows you to store your digital coins. Certain wallets also contain features like advanced security, key generation and easy transfer. Like cryptocurrency, digital coin wallets also come in different categories such as:

  • Software wallets – these are downloadable programs that are required to be installed in your computer or device.
    • Desktop – desktop wallets are software wallets that allow you to store your crypto coins in your laptop or computer. Certain wallets may contain online features although most desktop wallets don’t.
    • Online – online wallets are cloud software wallets that require internet connection so you can access your account as well as make various online transactions.
    • Mobile – these wallets are downloadable mobile apps that allow you to check your balance and other transactions on your phone everywhere you go.
  • Hardware wallets – unlike software wallets, hardware wallets are physical storage devices used to store some of your keys. They’re versatile and can be connected online although many are often used to keep investments away for a long time.
  • Paper wallets – are offline software that allows users to store their keys, generate copies, as well as store their cryptocurrency addresses on paper.

Each wallet serves a specific purpose depending on the investment you intend to do. The wallets also vary in price, functionality and security. The more you use your cryptocurrencies, the hotter your wallet should be. If you prioritize security and long-term use above all else, invest in a durable hardware wallet.

Conclusion

Cryptocurrencies are considered a hot investment item because they possess the convenience of today’s technological innovation. With so many options available, many investors can expand their portfolio by choosing more than one kind of coin. To avoid risks, investors should also invest in security items to keep their assets safe.

crypto is coming!

Interested in more crypto content? Check out  and Why Privacy Coins are important in 2019 and beyond

Hardware Wallet Review: Trezor Model T vs Nano Ledger S

Posted on by Conor Maloney

You really can’t be too careful when it comes to storing cryptocurrencies. One of the main ideas behind the crypto movement is individual financial freedom and responsibility. Of course, freedom and responsibility are a two-way street, aren’t they?

With cryptocurrency, you’re free to send funds to who you want, when you want, with no online banking agent looking over your shoulder to supervise or take a cut. However, that means if you lose your funds, there are no support staff to help you out. Your money, your problem, and it’s all too easy to lose money to theft or lost passwords.

hardware wallets are a good solution, allowing users to store their funds on a physical device that also has a backup seed phrase in case the device gets lost, adding an extra layer of security. The wallets keep funds offline and in “cold storage,” meaning they can’t be remotely accessed.

The two main contenders for best wallet are the Trezor and Nano Ledger S – but which one’s better?

Trezor

Supported cryptocurrencies: Over 500
Amount of currencies stored simultaneously: No limit
Price: $170

Trezor supports the most amount of cryptocurrencies by a huge margin, although it’s missing some high-cap tokens at the same time. The supported currencies are the main distinguishing characteristics between the two devices, but they each have their own unique features as well.

The Trezor Model T is a touchscreen device with multiple security layers. A PIN is required to start with, then a passphrase, and device recovery is also available as is 2FA (2 factor authentication such as requiring the user to enter a code sent to them separately by phone or email). Other security features include GPG encryption, SSH encryption, a password manager, and support.

Ledger Nano S

Supported cryptocurrencies: 41
Amount different currencies stored simultaneously: About 5, depending on which ones
Price: $99

The Ledger Nano S supports 41 currencies, several hundred fewer than the Trezor, which seems like quite a disadvantage. It can also only store 4 or 5 at a time while Trezor can potentially store hundreds at a time. However, it’s worth pointing out that the Ledger Nano S supports Ripple, Stellar, and Monero, while the Trezor doesn’t, which might give Ledger the advantage for certain users.

The Ledger isn’t a touchscreen and uses buttons instead. Security features include a PIN-protected chip a secure PIN-protected chip which stores private keys, and BOLOs which are individual shields around each individual app on your device, a novel and highly-secure and supposedly tamper-proof method of safeguarding the data within.

Comparison

Both devices are compatible with software wallets like MyEtherWallet and MyCrypto. Seemingly the Ledger Nano S is easier to set up than the Trezor which has a more time-consuming setup process.

All things said and done, there are two main differences here:

First off, the Trezor is notably more expensive than the Ledger Nano S which is a major factor. Trezor actually has an older model available for $80 which doesn’t feature a touchscreen, and that may appeal to some users who want to avail of the hundreds of cryptocurrency storage options Trezor has to offer on both models, which is, of course, the second major difference.

The limited storage on the Ledger Nano S is a downside, but then again the options of currencies like Monero and Rippple may appeal to manyy users. At the end of the day, it comes down to which device appeals the most and suits your individual needs – both devices have good reputations for being secure and from trustworthy companies, and it’s good that the community has options in terms of price and currency selection when it comes down to the all-important task of keeping those crypto funds safe.

Subscribe to our newsletter The Raven’s Dispatch

Interested in other cool crypto content? Check out Weekly Cryptocurrency markets analysis: November 19 to November 25 and Hardware Wallet Review: Trezor Model T vs Nano Ledger S

Crypto Wallets: What are they and how do I use them?

Posted on by wiredshut2

As you have no doubt realized by now cryptocurrencies are not stored or maintained like your normal fiat (cash) currencies. No banks involved. Cryptocurrencies are stored on secure digital wallets that store public and private keys and interact with various blockchains. That means if you want use Bitcoin or any other cryptocurrency you will need a wallet.

These wallets allow you to store, send and receive digital currencies such as Bitcoin, Litecoin, or Ripple. That may sounds easy enough, “I’ll just download a wallet and I’m in the game.” It’s not that easy, so I’m here to help you understand the differences and even compare a few.

Let us start with how a wallet works:

There are lots of misconception and misunderstanding about cryptocurrency wallets even though their use is prevalent. Crypto wallets are similar to your home safe. You have a key (or code), and you had better not lose that key as you could lose ownership of your valuables. Instead of a physical box crypto wallets are software programs that store your public and private keys. See, similar. Don’t lose your effing key! 😉

Private keys are essential. If you do not ‘own’ your private key, you technically do not control your cryptocurrency. Again…Don’t lose or share your key! Your private key looks something like this (This is not a valid key):

7297b646f941171d524f1d565b8c8c0e3f77042a555b06f12b67a2b5f6b11b

So do you remember we said wallets store, send and receive digital currencies, right? When a person sends you Ethereum (or whatever) you will need your private key to access the funds transferred and access your assets. This movement of assets from wallet to wallet, or wallet to cryptocurrency exchange is recorded on the blockchain and your wallet balance will reflect that.

How do you send and recieve?
Your wallet will have a public and private key/address. The public key is used to send and receive cryptocurrency and can be disseminated with others. If you wish to send cryptocurrency from your wallet to another address, or exchange, you will have to be provided an address to send to. It is very important you copy and paste the address correctly. Verify before you send.

Your private key is used with the public key to create a signature that cannot be forged. Your private kry must be kept a secret. Varys like secret. Eunuch like secret.

What type of cryptocurrency wallets are there?

You can download a wallet to your smartphone, you can create one online via a web browser, you can download a wallet and store it on your PC or you can buy a physical wallet. Wallets all come down to three categories: hardware, software or paper.

  • Mobile: A mobile wallet will run on your smartphone. Much like your PC security is high as only you control your smartphone. Same setbacks apply though: Hacked, virus or a stolen phone compromises your wallet. MyCelium is arguably one of the best mobile crypto wallets
  • Desktop: These wallets are downloaded and installed on your PC or laptop. Because the wallet installed on your pc or laptop, it can only be accessed from them. Desktop wallets offer a high level of security but if your computer gets a virus or is hacked your wallet could be compromised too. Bitcoin core is an example of a Bitcoin desktop wallet.
  • Online: Wallets that are on the cloud, web based. These are by far the most convenient wallets as it gives you the ability to access your funds it from anywhere. There are two main drawbacks to online wallets. If you recall from the beginning of this article I said “If you do not ‘own’ your private key, you technically do not control your cryptocurrency”?Online wallets store your keys online and are therefore not controlled by you. This makes them vulnerable to attach and theft. *IMPORTANT: Be certain to double check the URL for your online wallet (bookmark it) before entering passwords. There are a lot of phishing scams out there.
  • Hardware: By far the most secure method of storing your crypto loot. In this case your private keys are stored on physical device, not unlike a USB drive. While your HW wallet has to connect online to send and receive currency, they are stored offline which provide added security.***Important: We recommend you always purchase your hardware wallet directly from the manufacturer. Better to be safe than sorry. Also always record your written backups of your keys.
  • Paper: A paper wallet is a piece of paper that contains copies of the public and private keys that make up a wallet. Will generally also have a QR code for a quick scan. The benefit of a paper wallet? Simple: The keys are not stored digitally anywhere

Cryptocurrency Wallet Safety:

Wallet Type Security Level Example wallet
Desktop Medium Bitcoin Core, breadwallet
Hardware High Ledger or Trezor
Online Low MyEtherWallet, blockchain.info
Software Medium Mycelium, Jaxx
Paper Highest Paper, you fool

Ultimately it’s up to you to decide how comfortable you are with which type of wallet. I know many people who use a combination of two or three wallets. Do your research and review the products you plan to use. In a way selecting a cryptocurrency wallet is like selecting a bank to store your cash. You want: Security, peace of mind and confidence in the product.

Follow us on twitter @cryptoiscomin

Subscribe to our newsletter to get the coolest infographics and articles from the crypto world