5 advantages of cryptocurrency: everything you need to know

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

Easy transactions

If you often deal with legal representatives and brokers, you know that they charge high transaction fees against 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 remove all intermediaries. You will use a secure network to perform all your transactions. Each transaction is transparent and does not involve large transaction fees.

Transfer of assets

It is easy to transfer ownership of cryptocurrency from one person to another. Blockchain is behind all ecosystems. Therefore, you can perform 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 problems.

Confidential transactions

In the case of cash or credit, there is a record for each transaction. And these records are also stored in 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 in terms of privacy.

The beauty of cryptocurrencies is that each transaction is unique. Each transaction includes conditions for negotiations. There is a push concept that provides the basis for information exchange. Nothing will be revealed to the recipient except what you allow. So you will have full protection of privacy and identity.

Low transaction fee

If you check your bank statement, you will be amazed to see that your bank has charged a transaction fee for each individual transaction you have made so far. If you make a lot of transactions every day, the total amount of bank fees will be quite high.

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


You can use the Internet to transfer cryptocurrency in complete peace of mind. In fact, anyone can use this service as long as they have access to the Internet. All you need to do is have a basic understanding of the cryptocurrency network. In short, these are just some of the main advantages of using cryptocurrency.

7 advantages of cryptocurrency

Cryptocurrency is a digital alternative to using credit cards or cash to make daily payments in a variety of situations. It continues to grow as a working alternative to traditional payment methods, but still needs to become more stable before being fully welcomed by ordinary people. Let’s look at some of the many benefits of using cryptocurrency:

Fraud – any problem with fraud is minimized because the cryptocurrency is digital, which can prevent back or counterfeit payments. This type of action can be a problem with other traditional payment options, such as credit card, due to refund payments.

Identity theft – it is not necessary to provide personal information that could lead to identity theft when using cryptocurrency. If you use a credit card, the store receives a lot of information related to your credit line, even for a very small transaction. Also, credit card payments rely on a withdrawal transaction where a specific amount is charged to an account. When paying with cryptocurrency, the transaction is based on a targeted basis, which gives the account holder the opportunity to send only the exact amount due without additional information.

Universal use – cryptocurrency payments can be easily made to meet certain conditions. A digital contract can be created to make the payment subject to completion at a future date, to refer to external facts or to obtain approval from a third party. Even with a special contract, this type of payment is still very fast and efficient.

Easy access – the use of cryptocurrency is widely available to anyone with Internet access. It is becoming very popular in some parts of the world, such as Kenya, where nearly 1/3 of the population uses a digital wallet through the local microfinance service.

Low fees – it is possible to complete a cryptocurrency transaction without having to pay additional fees or charges. However, if you use a digital wallet or a third-party service to hold the cryptocurrency, there will probably be a small fee.

International trade – this type of payment is not subject to country-specific levies, transaction fees, interest rates or exchange rates, which makes it possible to make cross-border transfers with relative ease.

Adaptability – with nearly 1,200 unique types of cryptocurrencies on the world market, there are many opportunities to use a payment method that meets specific needs. Although there are many options for using coins for everyday use, there are also those designed for a specific use or in a specific industry.

Bitcoin Mining and Security, Part 2

Let’s summarize about crypto security and, if necessary, see Part 1.

Bitcoin security is important. Your bitcoin or any other cryptocurrency has a unique address or identification or private key. Therefore, you need to realize how important it is to keep it. If you lose it, it is difficult to recover, hence the need to secure it as best you can.

I must make this clear, because security must be paramount and must not be taken lightly.

There are countless stories of people who lost access to their computers (whether through negligence or abuse) and ultimately failed to recover their bitcoins or other cryptocurrencies. This should be equivalent to leaving your wallet vulnerable either through a pickpocket or through carelessness when you are outside.

Fortunately, there is a way to be a double protector of your assets. A secure hardware wallet will ensure that if you unfortunately lose access to your computer or tablet, etc., (in any way) you will be able to recover your bitcoins, ethereum, litecoin, etc.

A hardware wallet allows you to recover your cryptocurrency on any other computer, as this is essentially a USB connection that you use to secure your transactions.

Second level of security.

Trezor is the original hardware wallet and is easy to set up for your bitcoin security. There are other products available, but for the rest of this article I decided to focus on the Trezor hardware portfolio.

The basic principle for the security of Trezors’ bitcoin is zero trust.

Using the Trezor screen, you can independently check and physically confirm each transaction directly on your device.

It also requires a pin from you every time you enter. This way you ensure that you are present at all times.

As a single-use device, there are no other features in the wallet.

Simply equals extra security.

Trezor is no exception to the risk of malware or viruses, period. However, the fewer devices Trezor communicates, ie. there is no Bluetooth, wifi or Qr code scanning, so the simpler the communication protocol, the more secure your bitcoin security.

In addition, the Trezor has no battery. When it is turned off, it is turned off and your coins are safe from any cyber attack.

I hope I have emphasized the importance of bitcoin security. The main problems are zero trust and concrete security. Also make sure that your backup process is just as secure, ie. if necessary, make sure your data is available to someone you explicitly trust.

Beginner’s Guide: An Introduction to Cryptocurrencies

Introduction: Invest in cryptocurrencies

The first cryptocurrency to emerge was bitcoin, which was built on Blockchain technology and was probably launched in 2009 by the mysterious man Satoshi Nakamoto. At the time of writing, 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 Bitcoin hard forks such as Bitcoin Cash and Bitcoin Gold.

Consumers are advised not to invest all their money in one cryptocurrency and to try to avoid investing in the peak of the cryptocurrency bubble. It has been noticed that the price has suddenly dropped when it is on top of the crypto bubble. Because cryptocurrency is a volatile market, consumers must invest the amount they can afford to lose, as no government has control over cryptocurrency, as it is a decentralized cryptocurrency.

Steve Wozniak, co-founder of Apple, predicts that bitcoin is real gold and will dominate all currencies such as USD, EUR, INR and ASD in the future and will become a global currency in the coming years.

Why and why not invest in cryptocurrencies?

Bitcoin was the first cryptocurrency to appear, and then about 1,600+ cryptocurrencies were released with some unique feature for each coin.

Some of the reasons I have experienced and would like to share are that cryptocurrencies are created on a decentralized platform – so users do not require a third party to transfer cryptocurrency from one destination to another, unlike fiat currency, where the user needs a platform such as Bank to transfer money from one account to another. Cryptocurrency built on highly secure blockchain technology and almost zero chance of hacking and stealing your cryptocurrencies until you share your critical information.

You should always avoid buying cryptocurrencies at the highest point of a cryptocurrency bubble. Many of us buy cryptocurrencies at the top in the hopes of making quick money and falling victim to the noise of the bubble and losing money. It is better for consumers to do a lot of research before investing money. It is always a good idea to invest your money in several cryptocurrencies instead of one, as it has been observed that few cryptocurrencies grow more, some on average if other cryptocurrencies go into the red zone.

Cryptocurrencies for focusing

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

Bitcoin still dominates the cryptocurrency market, but it is not the only cryptocurrency you should keep in mind when investing in cryptocurrency. Some of the main cryptocurrencies to keep in mind:









Where and how to buy cryptocurrencies?

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

In 2015, India has two major bitcoin platforms, the Unocoin wallet and the Zebpay wallet, where consumers can buy and sell only bitcoin. Consumers should buy bitcoin only from a wallet, but not from another person. There was a price difference in the buying and selling rate and consumers had to pay some nominal fee to complete their transactions.

In 2017, the cryptocurrency industry grew tremendously and the price of bitcoin rose spontaneously, especially in the last six months of 2017, which forced consumers to look for alternatives to bitcoin and passed 14 lakhs on the Indian market.

Because Unodax and Zebpay are the two main platforms in India that dominated the market with 90% of the market share – which dealt only with bitcoin. This allows another organization to grow with other altcoins and even forces 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 in addition to bitcoin trading at Unocoin. The difference between the two platforms was – Unocion provided immediate purchase and sale of bitcoins only, while in UnoDAX users can order any available cryptocurrency and if it matches the recipient, the order will be executed.

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

Users must open an account in any of the exchanges by registering with an email ID and submitting KYC data. Once their account is verified, one can start trading coins of their choice.

Consumers need to research well before investing in any coins and not fall into the trap of a cryptocurrency bubble. Consumers need to research the reliability of the exchange, transparency, security features and much more.

All exchanges charge a nominal fee for each transaction. There are two types of fees – manufacturer’s fee and taker fee. In addition to the transaction fee, you must pay the transfer fee if you want to transfer your cryptocurrencies to another exchange or your personal wallet. Fees depend only on coins and exchanges, as different exchanges have a modulus of difference in the price of transferring coins.

Basic altcoins other than bitcoin

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

But you have to put 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 to buy?

There is no strict rule when to buy your favorite cryptocurrency. But market stability needs to be examined. You should not, except at the peak of the cryptocurrency bubble or when the price is constantly falling. The best time is always considered when the price is stable at a relatively low level for some time.

Cryptocurrency storage method

Before you buy a cryptocurrency, you need to understand how to keep your cryptocurrency safe.

In general, all exchanges provide storage space where you can store your coins safely. One does not have to share their user data, password, 2FA when holding cryptocurrency exchanges.

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

Paper Wallet: The paper wallet is an offline cold storage method for storing your cryptocurrency. It prints your private and public key on a piece of paper where the QR code is also printed. One simply has to scan the QR code for one’s future transactions. Why is it safe? No need to worry about hacking your account or attacking malware. You just need to keep your piece of paper in a safe place in a locker and if possible keep two to three paper wallets under full control.

Hardware Wallet: A hardware wallet is a physical device where you store cryptocurrency securely. There are many forms of hardware wallet, but the most commonly used hardware wallet is USB. When keeping 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.

A notorious incident in which a man dug 7000+ bitcoins and stored them in his hardware wallet and stored it with another hardware wallet. One day he threw away the hardware wallet in which he kept his cryptocurrency instead of damaged hardware and lost all his bitcoins.

What can be bought from cryptocurrencies in India?

Most people accept that buying and selling all kinds of cryptocurrencies is just an investment and getting a high return in the long and short term. Influential people and investors in bitcoin believe that in the coming years bitcoin will dominate all fiat currencies and will be adopted as an international currency.

Dell is one of the largest e-commerce businesses that accept bitcoins as payment. Expedia and UNICEF are other examples.

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


Cryptocurrency is one of the developing investment sectors and has given good returns on real estate, gold, stock markets, etc. in the past. You can buy cryptocurrency and keep it in the long run to get a good return or go in the short term for quick profits, as we have seen the growth of many 1000% + coins in the past. Because cryptocurrency is an unstable market and there is no government control over the industry. One must 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 do not want to keep in the exchange where you trade.

As technology advances at a rapid pace, safety products are needed

One of the many goals when cryptocurrency (CC) was first invented was to create a secure digital transaction system. The technology used was Blockchain and it still is. Blockchain systems are designed to be impenetrable to problems common to online financial systems that use older technologies – problems such as account hacking, fake payment verification and phishing scams on websites.

The blockchain itself operates on global record keeping networks (distributed registers) that are secure, inexpensive, and reliable. Records of transactions around the world are stored in blockchain networks, and because these records are distributed throughout the user community, the data is inherently resistant to modification. No part of the data can be changed without changing all the other blocks in the network, which would require a secret agreement of the majority of the entire network – millions of observers. BUT – what if a website looks like it gives you access to a legitimate cryptocurrency or cryptocurrency exchange product, but is it really a website designed to trick you into revealing information? You don’t have the security of Blockchain at all – you just have another phishing scam and you need to be protected from all this.

MetaCert is a company that says it is committed to protecting Internet users, and its core security product can be used to protect businesses from a number of malicious threats, and now they have a product designed to keep CC enthusiasts safe. This new product is called “Cryptonite” and is designed to be installed as a browser add-on. Current browsers rely on SSL certificates, which show users a small padlock in the browser’s address bar. Users have been told for years that SSL certificates assure you that a website is authentic – not so fast – phishing sites also use SSL certificates, so users may be misled into thinking that a website is legitimate when it is not. be added to your web browser, Cryptonite will display a shield next to the address bar. This shield will change from black to green if a website is considered “safe”. MetaCert says it has the world’s most advanced threat intelligence system with the world’s largest databases with classified security URLs.

Staying safe is always a good thing, but more safety products may be needed in the future as technology advances at an ever-increasing pace. Quantum calculations (QC) are on the horizon, which are very promising. QC is touted by many as one of the greatest technological revolutions of the modern era. Using the power of quantum mechanics, quality control machines will be able to take on much more complex tasks and achieve speeds that were previously unattainable. Traditional computers are based on a binary model, using a system of switches that can be turned on or off, represented by 1 or 0. QCs are different in that their switches can be in both on and off positions. which are called “superpositions”. This ability to be in two simultaneous states is what makes QC so much faster. Google announced more than two years ago that the quantum prototype they own is 100 million times faster than any other computer in their lab. The development of this technology is advancing at an ever faster pace. The first quantum computer launched was manufactured in 2011 by California-based D-Wave. The D-Wave machine was equipped with a processor that contained 16 quantum units called QUBITS. Since then, industry leaders such as IBM and Microsoft have announced their own quantum programs. This trend will lead to an exponential increase in the number of QUBITS that these new machines can handle over the next few years. Although quantum computing has the potential to make significant progress in many areas and to provide innovative solutions to some of the most complex problems, it will certainly create the need for improved security, as these machines will also have the power to help hackers with their vile deeds. Security and safety will always be needed in the cryptocurrency space, as in all other online spaces.

Stay on the line!

Cryptocurrency for beginners

In the first days of its launch in 2009, several thousand bitcoins were used to buy pizza. Since then, the sharp rise in cryptocurrency to $ 65,000 in April 2021, after a heartbreaking decline in mid-2018 of about 70 percent to about $ 6,000, has stunned many people – cryptocurrency investors, traders or just curious missed the boat.
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How it all started

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

Despite many opinions predicting the death of the cryptocurrency, the introduction of bitcoin has inspired many other digital currencies, especially in recent years. The success of crowdfunding caused by the blockchain fever has also attracted those who deceive the unsuspecting public, and this has attracted the attention of regulators.

Beyond bitcoin

Bitcoin has inspired the release 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 significantly, as well as their liquidity.

Coins, altcoins and tokens

At this point, suffice it to say that there are subtle differences between coins, altcoins and tokens. Altcoins or alternative coins are usually different from the pioneering bitcoin, although altcoins such as ethereum, litecoin, ripple, dogecoin and dash are considered the “main” category of coins, which means that they are traded on more cryptocurrency exchanges.
Coins serve as currency or a means of storing value, while tokens offer assets or useful uses, such as a blockchain supply chain management service to validate and track wine products from the winery to the consumer.

It is important to note that low value tokens or coins offer opportunities to raise, but do not expect such meteorite increases as bitcoin. Simply put, lesser-known tokens may be easy to buy, but they may be difficult to sell.

Before embarking on cryptocurrency, start by studying the value proposition and technological considerations, namely the trading strategies outlined in the White Paper accompanying any initial coin offering or ICO.

For those familiar with the stock and the shares, this is no different from the initial public offering or IPO. However, IPOs are issued by companies with tangible assets and business experience. Everything is done within a regulated environment. On the other hand, the ICO is based solely on an idea proposed in a white paper by businesses – which are yet to function and without assets – that are looking for start-ups.

Unregulated, so buyers beware

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

Some countries are open-minded by adopting policies to end cryptocurrencies and blockchain applications, while keeping an eye out for outright fraud. Still, there are regulators in other countries who are more interested in the pros than the cons of digital money. Regulators are generally aware of the need to strike a balance, and some are reviewing existing securities laws to try to address the many tastes of cryptocurrencies around the world.

Digital wallets: The first step

The wallet is essential to start dealing with cryptocurrency. Consider e-banking, but without the protection of the law in the case of virtual currency, so security is the first and last thought in the crypto space.

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

  • Hot wallets that are connected to the Internet, which puts users at risk of hacking
  • Cold wallets that are not connected to the Internet and are considered safer.

In addition to the two main types of portfolios, it should be noted that there are portfolios for only one cryptocurrency and others for several cryptocurrencies. There is also an option to have a wallet with several signatures, somewhat similar to a joint bank account.

The choice of wallet depends on the user’s preferences, whether the interest is only in bitcoin or etherium, as each coin has its own wallet, or you can use a third-party wallet that includes security features.

Notes in the wallet

The cryptocurrency wallet has a public and private key with personal transaction records. The public key includes a reference to the cryptocurrency account or address, as opposed to the name required to receive a check payment.

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

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

It makes sense to have a minimum 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 precautions for online financial transactions apply, from strong passwords to vigilance for malware and phishing.

Portfolio formats

Different types of wallets are available to suit individual preferences.

  • Hardware wallets manufactured by third parties to be purchased. These devices work somewhat like a USB device, which is considered safe and is only connected to the Internet when needed.
  • Web-based wallets provided, for example, by cryptocurrencies are considered hot wallets that put consumers at risk.
  • Software-based wallets for desktops or mobile devices are mostly free and can be provided by coin issuers or third parties.
  • Paper wallets can be printed, bearing the relevant data on the cryptocurrency owned with public and private keys in QR code format. They should be kept in a safe place until required during the crypto transaction, and copies should be made in the event of incidents such as water damage or printed data fading over time.

Crypto exchanges and markets

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

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

The choice of cryptocurrency exchange depends on the user’s preferences, but anonymous ones may have restrictions on the degree of permitted trading or be subject to sudden new regulations in the country of residence of the exchange. Minimum 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 from a few minutes to several hours, depending on the transactions of coins or tokens and the volume of trade. Scalability is known to be a problem with cryptocurrencies, and developers are working on ways to find a solution.

Cryptocurrency exchanges are in 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 cryptocurrencies that only trade cryptocurrencies, which means that customers must already own cryptocurrencies – such as bitcoin or etherium – in order to be “exchanged” for other coins or tokens based on the market rate.

Fees are charged to facilitate the purchase and sale of cryptocurrencies. Consumers need to do the survey to be satisfied with the infrastructure and security measures, as well as to determine the fees that are convenient for them, as different tariffs are charged by different exchanges.

Do not expect a total market price for the same cryptocurrency with an exchange difference. It may be worth taking the time to research the best price for coins and tokens that are of interest to you.

Online financial transactions carry risks and consumers should heed warnings such as two-factor authentication or 2-FA, be aware of the latest security measures and be aware of phishing scams. One golden rule of phishing is not to click on the links provided, no matter how authentic the message or email is.

The basics of cryptocurrency and the way it works

In the times we live in, technology has made incredible advances compared to any time in the past. This evolution redefines human life in almost every aspect. In fact, this evolution is a continuous process, and thus human life on earth is constantly improving day by day. One of the newest inclusions in this aspect is cryptocurrencies.

Cryptocurrency is nothing but a digital currency that is designed to require security and anonymity in online money transactions. It uses cryptographic encryption both to generate currency and to verify transactions. New coins are created through a process called digging, while transactions are recorded in a public ledger called the Transaction Block Chain.

A little back

The evolution of cryptocurrency is mainly attributed to the virtual world of the network and involves the procedure of transforming readable information into code that is almost impenetrable. This makes it easier to track purchases and transfers involving currency. Cryptography, after its introduction during World War II for secure communication, has evolved into this digital age, mingling with mathematical theories and computer science. Thus, it is now used to provide not only communication and information, but also for money transfers in the virtual network.

How to use cryptocurrency

It is very easy for ordinary people to use this digital currency. Just follow the steps below:

  • You need a digital wallet (obviously to store the currency)
  • Use the wallet to create unique public addresses (this allows you to receive the currency)
  • Use public addresses to transfer funds to or from your wallet

Cryptocurrency portfolios

A cryptocurrency wallet is nothing but a software program that can store both private and public keys. In addition, it can also interact with various blockchains so that users can send and receive digital currency, as well as monitor their balance.

The way digital wallets work

Unlike conventional wallets, which we carry in our pockets, digital wallets do not store currency. In fact, the concept of the blockchain is so intelligently mixed with cryptocurrency that currencies are never stored in a certain place. Nor do they exist anywhere in hard money or physical form. Only records of your transactions are stored in the blockchain and nothing else.

Real life example

Suppose a friend sends you some digital currency, say in the form of bitcoin. What this friend is doing is transferring ownership of the coins to the address of your wallet. Now, when you want to use this money, you unlock the fund.

To unlock the fund, you need to match the private key in your wallet with the public address to which the coins are assigned. Only when these private and public addresses match will your account be credited and your wallet balance increase. At the same time, it will reduce the balance of the sender of the digital currency. In digital currency transactions, the actual exchange of physical coins never takes place.

Understanding the address of cryptocurrency

By nature, this is a public address with a unique string of characters. This allows a user or digital wallet owner to receive cryptocurrency from others. Each public address that is generated has a matching private address. This automatic match proves or establishes ownership of a public address. As a more practical analogy, you might consider a public cryptocurrency address as your email address to which others can send emails. Emails are the currency that people send you.

Understanding the latest version of the technology in the form of cryptocurrency is not difficult. One needs a little interest and spending time online to clarify the basics.

Bitcoin wallets – all aspects are explained


Bitcoin is a well-known digital currency and is unlike the physical or traditional currencies used around the world. This is a completely different type of currency because it does not exist in physical form or form in the world. They are mainly stored technically and used in the world of the Internet. If you want to use bitcoin, you need to have a bitcoin wallet.
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What is a bitcoin wallet?

In general, the bitcoin wallet is a software program in which bitcoins are stored securely. The wallet is similar to a virtual bank account and allows a person to send or receive bitcoins and save bitcoins. Those people who use bitcoin and have a balance, they receive a private key or secret number for each bitcoin address that is stored in the bitcoin wallet. Without a private key, a bitcoin transaction is not possible. You can use your bitcoin wallet from anywhere in the world.
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The main reason for getting a bitcoin storage wallet is to use bitcoin easily and safely. This is a digital wallet that can work easily on your smartphone and computer devices. If you are worried about hacking, then this is the best option because it gives complete security and safety to your bitcoins.
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Different forms of bitcoin wallet

There are several different forms of bitcoin wallet and each of them is used according to their requirements.

The four main types of bitcoin wallets are listed below:

• Mobile

Those who use bitcoins on a daily basis, regularly trading, buying goods and other daily activities, for them the mobile BTC wallet is a great option. This is an application that works on your smart phone. This will store your private keys and allow you to pay for things or use cryptocurrency from your phone easily from anywhere in the world.
• Network

Web wallets allow you to use bitcoins from anywhere easily and in any mobile or web browser. Remember to choose your web wallet carefully because it stores your private key online and can sometimes be risky.
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• Desktop

Desktop wallets are downloaded and installed on your computer or desktop and offer you complete control over the wallet. You can store a private key and create a cryptocurrency account address to send and receive bitcoins.
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• Hardware

Hardware wallets are offline devices and are the most secure bitcoin wallet. They store your private keys offline so they can’t be hacked. This means you can use it on your computer whenever you want.
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Your coins are completely safe because your bitcoin wallet can only be controlled by you. No one else can get the details of your bitcoin unless you share the password. So use bitcoins without worrying about theft.
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Types of cryptocurrency portfolios and their overall security aspect

There are different types of cryptocurrency portfolios that allow users to store and access their digital currencies in different ways. The question that matters in this context is how secure these portfolios are. Before you look at the security aspect, it is useful to understand the different types or varieties of cryptocurrency portfolios that exist today.
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Cryptocurrency portfolio: Types and varieties

These portfolios can be broadly classified into 3 categories:

  • Software wallets
  • Hardware wallets and
  • Paper wallets

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

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  • Desktop wallets: These wallets are designed to download and install desktops and laptops. This particular variety offers the highest level of security, although their availability is limited to the computer on which they are installed. In addition, if a computer is hacked or infected with viruses, a person is likely to lose all their money.
  • Online software portfolios: This range of cryptocurrency portfolios works in the cloud. In this way, they can be easily accessed from any computer device and from any geographical location. In addition to the convenience of accessibility, this type of digital wallets store private keys online. The keys are controlled even by third parties; this makes them easily vulnerable to hacking and theft.
  • Mobile software wallets: Unlike the other two varieties, mobile software wallets run on smartphones through an application. They can be easily used anywhere, including shops and malls. This range of wallets is usually much simpler and smaller than normal desktop wallets to fit the very limited space of mobile phones.

Difference between hardware and software portfolios
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Hardware digital wallets differ from software wallets in terms of storing the user’s private keys. Hardware wallets store user keys in a hardware device (such as USB). Thus, because the keys are stored offline, these wallets offer additional security. In addition, hardware wallets are easily compatible with many online interfaces and can handle different currencies. This variety of cryptocurrency portfolios is also easy to make transactions. As a user, you simply need to connect the device to any computer connected to the network before entering the PIN, transferring the currency and simply confirming the transaction. Your digital currency is kept offline by hardware portfolios, so the risk factor or security concerns are also much lower.
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Paper digital wallets: This range of digital wallets is also user-friendly and guarantees a high level of security. The term “paper wallet” simply refers to the printing on paper of both the user’s public and private keys. However, given the cases, this may also apply to a software application designed to generate keys securely before printing.
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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 that your paper wallet displays. Similarly, 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”.
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Clearing can be done manually, by entering private keys or scanning the QR code on a paper wallet.

How secure are cryptocurrency wallets?

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

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

Needless to say, it is much safer to store currencies offline than online. There is simply no way to ignore security measures, regardless of the portfolio chosen. If you lose your private keys, all the money stored in your 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 or refund this money.
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Investing in cryptocurrency is a smart business idea and therefore the use of an appropriate portfolio is inevitable. You just have to be a little more careful to ensure the safety and security of your money transfers and transactions.

Visa says you can buy almost anything except cryptocurrencies

The news this week is that several banks in the United States and the United Kingdom have banned the use of credit cards to purchase cryptocurrencies (CC). These reasons can not be believed – as an attempt to limit money laundering, gambling and 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 gamble at 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 cryptocurrencies? There must be some valid reasons, and they are NOT the reasons given.

One thing banks fear is how difficult it would be to confiscate CC holdings if the credit card holder fails to make the payment. It would be much harder than re-owning a house or car. The private keys of the crypto wallet can be placed on a memory or sheet of paper and can be easily removed from the country, with little or no trace of its location. There may be high value in some crypto portfolios and credit card debt may never be repaid, leading to bankruptcy and 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 pocket the money. A really awful scenario.

We certainly do not advocate such illegal behavior, but banks are aware of the possibility and some of them want to close it. This cannot happen with debit cards, as banks are never without pockets – the money comes out of your account immediately and only if there is enough money to start. We are struggling to find some honesty in the bank’s history of limiting gambling and risk-taking. Interestingly, Canadian banks did not intervene, probably realizing that the reasons given were false. The result of these actions is that investors and consumers are already aware that credit card companies and banks really have the ability to limit what you can buy with their credit card. They do not advertise their cards in this way and this is probably a surprise for most consumers who are used to deciding what to buy, especially from CC Exchanges and all other merchants who have concluded trade agreements with these banks. The stock market has done nothing wrong – neither have you – but fear and greed in the banking industry are 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 world of fiat money and the world of CC. The CC world does not have a central control body where regulations can be applied anywhere, and this leaves every country in the world trying to figure out what to do. China has decided to ban the CC, Singapore and Japan are embracing them, and many other countries are still scratching their heads. What they have in common is that they want to collect taxes on the profits from investing in CC. This is not much different from the early days of digital music, as the Internet facilitates the unrestricted distribution and distribution of unlicensed music. Digital music licensing schemes were eventually developed and adopted because listeners were OK to pay little for their music instead of endless piracy, and the music industry (performers, producers, record companies) was along with reasonable licensing fees, not with nothing. Can there be a compromise in the future of fiat and digital currencies? As people around the world enjoy more than the incredible bank profits and excessive banks in their lives, it is hoped that consumers will be treated with respect and will not be 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 changing the game.

Stay on the line!