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Crypto Student

5 Reasons Why Cryptocurrencies Should Be Taught For Students

Crypto Student

Cryptocurrency has been impacting lives, no doubt, and Bitcoin has now become quite popular among the youth and even the adults, making smart investors extremely rich.

 Cryptocurrency has been in existence for more than 10 years now. There is hardly a developed country, a civilized geographical location, or an economy of significance around the world still ignorant of the word “cryptocurrency.”

The fact is that even if one does not know what cryptocurrency is all about. Then definitely, you have heard about it from the news, colleagues, neighbors, friends, internet, newspapers, handouts, and souvenirs, and so on.

Bitcoin is taking the lead as the most popular and the most utilized cryptocurrency with billions of dollars of transactions being carried out with it daily. Now, this begs the question, why is cryptocurrency still not taught to students?

Schools are institutions for educating people. Thus, it is of great importance and a matter of necessity that courses or subjects related to cryptocurrency be taught in school systems. This initiative will serve as a means of equipping our young generations for the future to come since cryptocurrency symbolizes a new viewpoint on finance and, primarily, the economy.

In lieu of these, it is worthy of mention that schools should also consider teaching online academic translation services as provided by The Word Point. Nowadays, such skills are essential in virtually all spheres of life.

Why not read on as you discover the five(5) essential reasons why cryptocurrency should be taught to students.

#1 Changes in Valuation Overtime

The knowledge of cryptocurrencies have increased in the general population of the world and have undertaken a new shape over time. According to BitcoinWiki, in 2009, there was no cryptocurrency exchange; the users at that time were majorly cryptography fans who transferred bitcoin mainly as a hobby. 

In 2010, a user, known as “Smoke too much,” auctioned 10,000 BTC for $50 without any buyer. Lazlo Hanyecs was also reported to have successfully bought two pizzas at Jacksonville, Florida, on the 22nd of May, 2010. This was the first recorded successful bitcoin transaction. On the 26th of June, 2019, Bitcoin hit $13000, which notable experts attributed to the development of the cryptocurrencies technology industry. This is to enlighten you concerning the history of the significant changes of Bitcoin as a major cryptocurrency. To open your minds to a new life-changing experience, and for you to reason and agree with me as per why cryptocurrency should be taught to students.

#2 Promising Career Opportunities

Taking into consideration, the rate at which cryptocurrency is growing concerning its wide acceptance, thousands of career opportunities are bound to manifest within the years to come.

Concerning a report by Coinbase, it was brought to public knowledge that the population of students from various departments who have become interested in cryptocurrency is growing so fast.

Some companies today are on the lookout for job-seeking graduates who are progressive-minded and are interested in fast-growing technologies. Likely, most of these employers are not well-grounded in the knowledge of cryptocurrency themselves. Hence, they need workers who are capable of bringing this knowledge to an organization.

In the world of crypto, Many opportunities abound, and the possibilities are limitless. Cryptocurrency and digital currency go hand in hand, such that a wide range of opportunities are opened for young scholars. The lists of potential careers for cryptocurrency lovers are virtually enormous. 

Here are some few potential career opportunities you should look forward to:

  • Cryptocurrency developers and miners
  • Cryptocurrency traders
  • Cryptocurrency analysts
  • Cryptocurrency-based software engineer
  • Cryptocurrency developers, and so on.

#3 Encompassing all Industries

According to the SI News blog, Cryptocurrencies have been forecasted to be utilized extensively in industries like Agriculture. Going by this report, it becomes evident that cryptocurrency technology is here to revolutionize the way we run our businesses.

In current times, workers are highly required by employers to collaborate and work across different departments. Several Interdisciplinary research is also growing in popularity in various universities in most developed countries. 

For instance, the University of California-Berkeley started delivering a cryptocurrency class called “Blockchain, Crypto economics, and the Future of Technology, Business and Law” which has become quite popular among students.

#4 It is a Great Investment Opportunity

Investment in cryptocurrency is highly encouraged for every business person or investor looking to make it big within a short period. It is indeed an excellent Investment platform given the astronomic rise in bitcoin rate in the year 2007 when it rose to its highest-ever to about $20,000, by which investors made a whole lot of money as a result of their investment. 

Even though some investors or individuals will argue that Bitcoin is highly volatile and full of risk, the same principles that apply to businesses and investment opportunities are still applicable to an investment in cryptocurrency.

#5 The Impacts of Cryptocurrency are Enormous

Following the growing trend of cryptocurrency, the impacts are becoming greater and more significant over time. This further stresses the reason why the course should be taught to students. Students need to be prepared for the crypto revolution to come.

Jake Gardner, a crypto analyst once said that “the impact of cryptocurrency is omnipotent considering the huge amount of benefits attached to it”. He also gave some notable advantages of cryptocurrency, which includes:

  • It reduces the cost of health-care services.
  • It guarantees a secured record-keeping.
  • It produces an extensive adoption of cryptocurrency technologies in the next 2-3 years.
  • It helps to reduce the cost of operations as well as minimizes the cost incurred from cross-border payments and many more.

Final Thoughts

There is a strong need for cryptocurrency classes to be held in various schools, and it should not be handled with levity. Students should be well equipped and fortified with the knowledge of cryptocurrency to be economically relevant towards its full implementation in a few years to come. Given the reasons above, should cryptocurrency be taught in schools or not? I leave you with this question to ponder on.

About the author: Frank Hamilton is a blogger and translator from Manchester. He is a professional writing expert in such topics as blogging, digital marketing and self-education. He also loves traveling and speaks Spanish, French, German and English.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
btcplaymania-infographic-cover

20 surprising things you can buy with Bitcoin

BTCPlayMania prepared this infographic which highlights twenty ways to spend bitcoins you might have not known about.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
Stablecoins, Holytransaction

Stablecoins: How they Strike a Balance between Crypto and Fiat

stablecoin rocks

There appears to be no end to the growing popularity of cryptocurrency and its related technology. The real world uses and applications of crypto are increasing and blockchain technology has found use outside, instead of just being a basis for the recording of crypto exchange. More ICOs are in development and a wider range of working cryptocurrencies is becoming available to the growing crypto community. The advent of crypto technology is not just a trend that people are getting hyped up about, it is an actual breakthrough in technology.

Bitcoin, the first functioning cryptocurrency, was developed in 2009 by an anonymous party known as Satoshi Nakamoto. The main goal of this new “currency”? To function as an international currency, created with the hope of minimizing costs and increasing efficiency of exchange through the development and use of a decentralized public ledger that distributes the verified records. This makes it a permanent and immutable documentation of what has happened to each and every bitcoin that has been mined and exchanged.

The new concept of decentralization is one of the breakthrough innovations of bitcoin which has been put to use in many other ways. However, too much emphasis has been placed on the investment and earning potentials of bitcoins and other cryptocurrencies. Owed to how it was able to gain popularity as being the digital currency that bore millionaires from investments that were once worth a few pennies, there is a large majority in the worldwide community that know about Bitcoin but fail to comprehend what it is and why it was created in the first place. Alarmingly, there are quite a number of people who are so quick to join the bandwagon of investors, hoping to get in early, as profits are rising for those already investing in Bitcoin, but have not equipped themselves with the necessary know-how for managing their bitcoin. Aside from being a recipe for failure for these individuals investors, it also negatively impacts the real purpose of Bitcoin as a cryptocurrency as it is unable to function as an actual currency.

The value of Bitcoin is dependent on the interrelation of two things – supply and demand. Getting into where the supply of Bitcoin comes from would take too much discussion. The important thing to note, however, is that there is a finite supply of bitcoins and, because of the rise in its value late in 2017, there has been a rise in its demand. The seesaw between supply and demand markedly changes the value of Bitcoin, making it a volatile currency. This means that it’s value changes, not just every day but consistently throughout a day. As an investment or commodity, this makes it one of the favorites for many investors or traders since it provides a great opportunity for trading. With the rises and falls in the market, it provides great trading opportunities.

It’s not just Bitcoin that follows this trend, other crypto currencies are also very volatile. However, this has now defined the crypto world as being more of a world of trading than as one made of alternative currencies. Luckily, there are now a few cryptocurrencies with values are so closely linked with a fiat currency that they do not behave like the others. For a trader, these are the cryptos to avoid, as there is little to no growth in your investments, but, for the person looking for a way to store, instead of invest, their assets, these stablecoins provide the advantages of both fiat and crypto – stability and efficiency.

Stability

From their names alone, stablecoins are stable or not as volatile as other cryptocurrencies. They are “stable” in a sense that although there are still rises and falls to their market values, these are not as frequent or as big a change. As introduced earlier, these coins are linked to an existing fiat, which helps to steady and maintain their values.

Crypto “currency” also defines its purpose by name. It aims to function as a currency, a medium which can be used to exchange goods, services and the like. However, due to the volatility of a majority of crypto, using it as a mode of payment is difficult. There is a need to constantly update the prices on items, based on the value of a certain crypto. Purchases that are made over a span of a few days may seem cheap and affordable on the first day, but upon finalization of payment may turn out to be too costly. With a currency that has a value that changes at an hourly rate, would one really prefer to pay items through bitcoins?

Efficiency

The underlying technology that supports Bitcoin or any other cryptocurrencies – the blockchain – provides many advantages that still make it a good mode of payment. Not only is it a secure method, due to its decentralized system of verifying any transactions, but it is also a fast method of exchange, which can be done at a low cost. Saying that it is efficient is an understatement as it removes the need for costly transactions that have to be checked, confirmed and processed by a centralized body. Add to the fact that there is always room for error in these centralized systems and there has been not just one incident where issues on the management of finances have come up. Putting too much trust on a single company to handle your money may be what we have become used to, but having a public ledger which is immutable and secure surely changes things.

What are stablecoins again?

They are cryptocurrencies with fiat properties. They are both stable and efficient alternatives that provide wallet owners with the best of both worlds. Are you a trader looking to find a storage for your assets without having to transfer it into your bank or are you just someone who dislikes the centralized banking system but would prefer not to hoard cash at home? Storing your assets online as a stablecoin may be a great option.

Author Bio: Kim Hermoso is a content writer. Her articles are mostly guides and feature pieces on all things related to cryptocurrency, such as blockchain technology and smart contracts.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack
Blockchain Data World Storage

How is Blockchain Technology Market Going to Rise at High CAGR of 38.4% Till 2025?

The global Blockchain Technology Market is forecast to rise exponentially in the coming years. The market is expected to witness high demand from diverse industries, especially the banking, financial services, and insurance (BFSI) industry.

In terms of industry vertical, the banking, financial services, and insurance segment held the leading share of 41% in global blockchain technology market in 2017. The segment will gain further impetus following introduction of bitcoin. “Rampantly increasing cyber-attacks and frauds in the BFSI industry accounts for millions of dollars. This has become a global concern. To make the technology used in the industry safer and more secure, Deloitte and Microsoft Azure and other tech giants are offering blockchain services,” said a lead analyst.

In terms of deployment, the proof of concept segment is gaining traction and is expected to witness impressive growth during the forecast period 2018-2025. Growth witnessed in this segment is backed by high need of transparent transaction across industries such as healthcare, retail and BFSI.

blockchain technology market

Increasing Demand for Secure Blockchain Technology to Guarantee Growth at Promising Rate

Government initiated awareness programs regarding benefits of blockchain technology among undeveloped nations is anticipated to fuel the demand in the global blockchain technology market“, said a lead analyst at Fortune Business Insights.

Increasing adoption of e-financial services and rapid adoption of the blockchain technology in developed nations are expected to drive the global blockchain technology market during the forecast period.

Increasing number of new blockchain products and their approval grants is also anticipated to act as a driving factor for the global Blockchain technology market.

Partnerships Among Key Market Players and Blockchain Developers Driving the Market in North America

North America emerged dominant in the global blockchain technology market in 2017. The North America market was worth US$ 820 Mn in 2017. The region will continue leading the market at a global level through the forecast period. Growth witnessed in the market is also attributable to recent collaborations between market players in the U.S. and blockchain service provides. Europe is also anticipated to witness impressive growth during the forecast period owing to high presence of blockchain technology developers.

In 2017, IBM was the leading organization in the global Blockchain technology market. Other companies operating in the global market are Oracle Corporation, Deloitte, Microsoft Corporation, IBM Corporation, The Linux Foundation, Chain Inc., Consensus Systems, Bits, Inc (Tendermint, Inc.), Schvey, Inc. (Axoni), VironIT, Altoros, and Fintech & Blockchain Software House.

Source: https://www.fortunebusinessinsights.com/industry-reports/blockchain-technology-market-100072

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
What Are the Investment Returns on Bitcoin Mining

What Are the Investment Returns on Bitcoin Mining

You know about Bitcoin: The original digital currency based on blockchain. Every transaction is written to a shared ledger and verified by the rest of the network. Each set of approved transactions is a “block” added to the chain. 

But you may have missed the buzz on Bitcoin mining. It’s not just for web geeks or digital currency traders. There are thousands of people around the world looking to profit in this way. 

What is Bitcoin Mining? 

Participants try to guess a random number generated by the system. Those who get the answer “own” the next block of transactions and collect a reward; currently 12.5 bitcoins. If you manage this, you can also collect fees on transactions in the block you created. 

This number comes from a complex equation. In the early days it was handled by ordinary computers, and then GPUs (graphics processing units), which were better suited to the task. Over the years the equation has evolved in difficulty to regulate the rate of discovery. 

Technology 

Bitcoin miners now rely on hardware-intensive systems known as ASICs (Application-Specific Integrated Circuit), which appeared in 2013. If you own or can get access to such a system, you stand to guess a fair amount of numbers on the blocks constantly taking shape. 

If this sounds like an easy way to profit, it is. Many people have joined the ranks of digital currency miners. However, with so much competition, the big question is whether there are still decent profits to be made. 

Can You Still Make Money? 

The more computers that are trying to capture the number, the harder the equation becomes and the fewer numbers you get. 

But Bitcoins also tend to go up in value. It was a price spike in 2013 that launched mining as a popular investment option. Speculators agree that the value of Bitcoin should continue rising as its popularity grows. 

Investments Required 

To maximize your return on Bitcoin mining, you need an ASIC system. These computing solutions utilize high-end hardware that generates a lot of heat. Such a setup requires state-of-the-art cooling and ventilation systems along with higher utility bills to operate all of this. 

Without an ASIC of your own, your odds of scoring aren’t good. It is possible to save some money by leasing an ASIC rather than buying one outright. 

Other Options 

Fortunately for the smaller investor, recent years have seen the rise of cloud mining, or cloud hashing. This response to growing demand is basically another cloud service where you get to lease a portion of someone else’s ASCI-enabled data center. 

A cheaper option, albeit with smaller potential rewards, is a mining pool. This is a third-party service that uses investor funds to do their own mining and shares out the profits. The upside of this is that you don’t need technical or financial knowledge at all; you just need to come up the minimum investment required by the service. 

Profit Potential 

You can join some of these investment pools for as little as $500. Some of these third-party services state that you could earn your investment back in as little as two months or so, and start seeing profit after three. When these claims are legit, or even close to it, you’re seeing a remarkable and fairly consistent ROI better than most forms of investment. 

However, transaction fees are currently voluntary on the part of individual users of Bitcoin, as is whether the transaction should even be included in a block. This is encouraged as the transaction is more quickly verified if it’s part of a block. Even so, your profit depends on the current value of Bitcoin, the number and size of transaction fees involved, and the number of people sharing the rewards. 

Federal Regulation 

In 2015 the Commodity Futures Trading Commission (CFTC) declared that digital currency trading is legal and subject to fair trading laws. However, this doesn’t guarantee that you’re protected. Prudent investors always do the homework: Know who you’re dealing with and determine realistic expectations. 

Risks in Bitcoin Mining 

The Bitcoin reward is halved every 210,000 blocks, or about four years. As the reward approaches zero, it may not be profitable at all unless transaction fees are increased and enforced. And while the general trend is up, there’s also fluctuation in Bitcoin value. 

There’s also a question of integrity. As more cloud services spring up, you’ll have a widely varying scenario of payouts, contract stipulations, and the potential for dishonest reporting; even outright fraud. Also, on the downside: The IRS says that mining profits may be taxed as individual investment gains

Is Bitcoin mining still a good investment? At the present time, yes, and hopefully for years to come with appropriate changes. Are you ready to sit back and let the computers make you bitcoins?

Jen McKenzie is an independent business consultant from New York. She writes extensively on business, education and human resource topics. When Jennifer is not at her desk working, you can usually find her hiking or taking a road trip with her two dogs. You can reach Jennifer @jenmcknzie

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
4 places where Bitcoin can actually be used, Holytransaction

4 Places Where Bitcoin Can Actually Be Used

4 places where Bitcoin can actually be used, Holytransaction

Bitcoin has transitioned into a stage of its evolution at which it is viewed almost entirely as a commodity. We discuss how to store it, compare it to gold, consider its long-term value, and generally treat it as a financial asset – even, to some extent, like a stock. This is perfectly appropriate given that the cryptocurrency’s volatility, as well as constantly wavering government positions on regulation, have kept it from being adopted as a widely used currency. The argument is over as to whether it is “more” currency or “more” commodity. It is the latter.

What sets bitcoin apart in some respects though is that it never did have to be one or the other. Consider the comparison to gold again. You may hold a stash of gold as a long-term protection of a chunk of your assets, and with the hope that it will appreciate in value. But you can’t exactly buy something online by chipping off a piece of gold (which in most cases you don’t even hold in a physical sense) and handing it over. This is true of most major investable commodities – but it is not true of bitcoin. As you’re likely aware, there are still places that it can be used like ordinary money, even though it is best viewed as a long-term vehicle.

For those interested, the following are among the most noteworthy places you can actually use the cryptocurrency for practical purposes.

1.) Travel Booking Websites

Bitcoin made something of a loud entry into the travel booking business when it was accepted by Expedia and Air. These were among the biggest or at least best known companies to embrace cryptocurrency early on, and even though Expedia has since renounced cryptocurrency, the notion of using bitcoin for travel-related costs caught on. Travel platforms accepting bitcoin or other cryptocurrencies still include various air travel and hotel booking companies, which means people are free to address what are often some of their biggest expenses in a given year via cryptocurrency.

2.) Microsoft Gaming

Fairly early on in bitcoin’s expansion to the mainstream, it was attached to video games, not necessarily through Microsoft so much as Steam. An online service that allows people to download a gigantic range of games, Steam was in some ways a perfect vehicle for purely digital transactions. However, the services topped accepting bitcoin due to volatility. In the meantime, Microsoft kept right on accepting cryptocurrency and is now one of the more significant companies doing so. In particular, Xbox-related purchases through Microsoft platforms can be conducted via bitcoin.

3.) Gaming

gaming is an interesting category, because it is almost like its own separate gaming industry. It’s comprised of and table games, digital slot arcades, roulette, and more, and in some cases a site will also have an included sportsbook. Payment options vary greatly, with some sites requiring credit card information and others using payment processors; in some cases, games are presented for free play as well. However, there is now a small but growing list of online sites that do take cryptocurrency deposits, and which also issue crypto payouts. It’s not a stretch to say that in short time bitcoin could be the norm for this particular form of entertainment.

4.) Shopify

Shopify is a more specific mention here, but feels like one of the more significant areas for bitcoin adoption, simply because it represents a busy, peer-to-peer marketplace. The fact that bitcoin can be used to buy goods via Spotify indicates that in some cases people prefer it when dealing with other people, rather than companies, and opens the door to all kinds of potential crypto marketplaces in the future.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack
Shares or Cryptocurrencies, Holytransaction

Battle of ROI: Should You Invest in Shares or Cryptocurrencies?

Shares or Cryptocurrencies, Holytransaction

Investment opportunities are a dime a dozen in the digital world, but unsurprisingly, cryptocurrencies are among the most interesting prospects aspiring investors are looking at. Unlike their traditional counterparts such as gold, stocks, traditional currencies, and other, cryptocurrencies and the blockchain platform they reside on offer a chance at the big leagues for any investor that makes the right move at the right time. However, that doesn’t mean that established assets shouldn’t be ignored.

Bitcoin has turned eight years old this year, and the now mature digital asset has had a strong ROI rate throughout its life, fueled by its constant and steady adoption around the globe. With outstanding payouts that topple some of the most lucrative investment assets on the market, it’s time to take cryptocurrencies more seriously.

However, there are a number of factors that make shares a strong and secure investment opportunity that cryptocurrencies might not be able to match. Let’s consider the market trends and help you discern between shares and cryptocurrencies as viable investment prospects.

The potential of the cryptocurrency market

Through trial and error, through success and failure, Bitcoin has become a sound investment portfolio option. Out of the six previous years, Bitcoin has yielded a great return on investment and will only continue to rise in the months and years to come. With the computational networks becoming more secure and stronger than before, and with the coming of flexible and reliable wallet services, it only stands to reason that modern investors should look towards cryptocurrencies as viable investment opportunities.

Even though investors have had difficulties penetrating the market over the years because of the inherent volatility of the market and the unpredicted growth and fluctuations, modern market trends indicate a more secure investment arena for the upcoming period. The increase in market liquidity, regulatory oversight, and overall security is making Bitcoin and other cryptocurrencies more appealing to investors worldwide, as well as countries willing to adopt the cryptocurrency as a new method of payment in select instances.

A case for the stock market

The stock market is a veteran among investment assets and remains one of the most stable markets on the planet. Buying a share in a company that is operating profitably will grant you smaller or greater returns over a number of years, depending on the fluctuations in the market and the worth of the company’s stocks. You can choose to invest in a range of businesses varying in size and equity though a broker or an investment fund.

Over the last year, though, profitable small cap stocks have made a boom in the industry and created a lucrative investment arena that aspiring investors should take into consideration when planning their next big move. Even though major tech companies continue to garner the attention of the investment world, small cap stocks prove to be an easier way into a stable market and show a great potential for grand financial returns in the years to come. However, financial return should not be your only guiding star.

Regulation and governmental oversight

One of the greatest concerns for any investor is whether or not the market in question is safe and stable enough for storing assets without them vanishing into the abyss with no prior warning. It’s a well-known fact that the cryptocurrency market is not regulated by any traditional means, but rather is was envisioned and still serves as a public ledger that works as a decentralized data management system – a system where every transaction is stored.

This means that the cryptocurrency market is not regulated by any governmental body, nor is it recognized by legislature or financial institutions. As such, cryptocurrency transactions cannot be influenced, capped, reserved, or identified by third parties. However, this creates a possibly volatile investment environment the stock market is protected from.

The stock market is one of the safest investment markets in the world. The fact that it is extremely well-regulated by federal law and financial institutions ensures a higher level of security and accuracy, while the strict vetting process for participants from both sides ensures transparency for investors. All of this works together towards creating a safe investment arena, and it also helps make sound forecasts in terms of market fluctuations, giving more control to the investor.

The security of assets on the blockchain

With all of that said, it’s important to note that Bitcoin has never been hacked, nor is it likely to get hacked any time in the future. The projected amount of computing power and time needed to crack into individual transactions and wallets is almost impossible to replicate in real-life scenarios, and so blockchain stands tall as the most secure platform on the web.

While it is true that Bitfinex and Mt.Gox have been hacked in the past, nowadays the cryptocurrency game offers far more superior security options to its investors. With cryptocurrencies, the assets you store in your wallet are safe. This cannot be said for other investment assets, as every digital trading game has its set of liabilities and risks the hackers can exploit.

 

Investors are constantly looking for emerging opportunities and lucrative assets that will yield a high ROI over a specified number of years, and both the stock market and the crypto market offer a good chance of a high return on investment. That said, the stock market offers a more stable and well-regulated investment arena, whereas cryptocurrencies offer extreme returns to those who invest in the next big project.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack
Storing crypto at the exchange or in a wallet, Holytransaction

What’s Wiser: Storing Crypto at the Exchange or in a Wallet?

Storing crypto at the exchange or in a wallet, Holytransaction

Exchanges are the entry gate for newcomers in the crypto world. Apart from direct deals which are pretty rare at the moment, these platforms represent a great option to get some cryptocurrency for fiat money. But are the exchanges fully secure?

Surely, websites are pretty convenient and user-friendly as they are targeted on different traders including total newbies. But their security isn’t ideal. Just remember the hack of Coincheck in January 2017 or the famous history of Mt.Gox’s rise and fall.

Despite threats and risks, some crypto investors keep their money at the exchanges’ in-built storages. Others prefer private wallets. Who is right? Let’s try to figure it out and reveal where your coins will be safer.

Basics of storing crypto

Crypto isn’t tangible as fiat money. It exists online and records transactions by using blockchain. For storing assets, you can use in-built storages at the exchange platforms and crypto wallets which are unique addresses and can function both online and offline.

Each wallet consists of public and private keys. Public keys can be compared to email addresses – in order to receive some coins, you have to share this number with a sender. Private keys work like a password, as only the owner knows them. They can be subjected to frauds which is why it’s essential to secure your crypto as much as possible.

Storages at the exchanges – easy to use but vulnerable

Centralized crypto trading platforms which allow users buying and selling various coins are similar in one: they control accounts by not disclosing private keys to users. Сustomers just have to trust exchanges in keeping their coins secure. Of course, large projects like Coinbase, Binance, or CEX.IO have strong security teams and offer offline storages and multi-signatures to protect users’ funds better. But they also can be a sweet spot for hackers who focus on big-volume websites. Any reputable guide will warn you about the dangers of storing coins this way.

Cryptocurrency exchanges are vulnerable to market manipulations and can be hacked even when they have all the security measures needed. While choosing a platform to trade at, check hacking statistics, explore different opinions and overviews to be sure that the website you’ll be using cares about keeping your funds safe.

Apart from the problems with ownership and security, there’s an issue with the lack of regulation. Your coins aren’t totally protected as long as your country doesn’t move to the crypto legislation. While influential countries like China ban crypto activities, the market remains highly unstable which affects the level of security.

Keeping crypto at the exchanges has its advantages, too. These platforms are really convenient in terms of using the funds for trading. Customers like doing everything in one place: buying crypto with fiat (this option is not available everywhere, though), selling or trading coins. Using crypto-to-fiat exchanges like Kraken or CEX.IO, you can perform different actions at once.

Briefly summarizing, in-built storages at the exchanges are very convenient, especially when you don’t want to lose time and effort on setting up a wallet. But it’s better to keep coins there only for active trading, as there are no solid guarantees that your funds will remain safe.

Storing in wallets – various options

The level of security varies depending on the wallet’s type. Similarly to exchanges, you can store coins online or offline: the first option is represented by web-based and software wallets, while the seconds one is about paper and hardware ones.

Hot wallets

Web-based wallets are connected to the Internet. Desktop and mobile ones can be installed offline, but for their security not to be compromised, you need to keep them on a spare device with no access to the Internet. The main advantage of hot wallets is that they allow transferring money anytime and very quickly which is especially beneficial for active traders.

As for drawbacks, such systems are extremely vulnerable to fraudsters and phishers, no less than exchanges. It’s not recommended to use them for large amounts of crypto. If you’re still going for hot wallets, make sure you realize what risks it entails. Use it for day-trading or petty cash and avoid common mistakes: not calculating fees or spending unconfirmed outputs.

Cold wallets

Unlike the first type, these systems work offline which makes them practically immune to hackers and frauds. The most secure wallets are paper and hardware ones. Using the paper type is easy and free, but it holds risks of damage (paper can easily be destroyed) and the human factor (users can simply forget where they’ve put their wallets).

Hardware wallets that function as a flash drive are the most flexible: you can connect them to your device any time you want to perform a transaction and you can do it as many times you need. There’s one notable flaw, though – hardware devices are not free. For wallets like Trezor or Ledger, you’ll have to pay about $100. Also, they may be not that easy to use, but this is not important in contrast to the security they offer.

Final tips

If you’re planning on having active and diverse crypto activities, it’s advisable to combine both approaches to crypto storing: keep your main funds offline and have some money at the exchange. While dealing with hot storage, choose trusted platforms and wallets, enable two-factor-authentication, don’t open suspicious links that might look like actual services. As an additional measure, write your private keys down – keep this backup in a place only you can access, and do the same with paper wallets.

Risks related to storing crypto bring the issue of trust to the foreground: while centralized systems designed to work with decentralized currencies often fail to guarantee a perfect security level, it indicates the need for a new approach which would be more relevant to the very idea of crypto.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack
The Correlation Between Gold and Bitcoin, Holytransaction

The Correlation Between Gold and Bitcoin

The Correlation Between Gold and Bitcoin, Holytransaction

The digital age embraces new technology and adapts to it very quickly. Nowadays, investors have an opportunity to diversify their portfolio with digital assets and not just physical ones. However, while digital assets have risen in fame in the last few years, their volatility and unpredictability have investors question whether or not these types of investments are actually safe. On the other hand, gold has always been a “safe bet” among investors.

The main reason is that gold is an excellent hedge against inflation, global instability and economic crisis. As for Bitcoin, many people have claimed that it’s the digital gold, but so far, Bitcoin was unable to provide the same level of investment security as gold. Many people still wonder if Bitcoin and gold are correlated. When comparing prices, the Bitcoin price is certainly very volatile, while gold pretty much retains its price with slight variations. Here’s more insight into the correlation between gold and Bitcoin.

Difference of investment

As mentioned before, investors have an opportunity to opt for digital assets instead of just physical ones. The rise of Bitcoin’s price in 2017 that was alongside a price increase in gold made people believe these two assets are correlated. However, people who invested in Bitcoin did so mainly because this digital asset was unregulated by governments and they intended to reap the benefits of that situation.

On the other hand, people investing in gold were looking for a safe investment to secure their funds, as gold is usually used for that. In other words, the cryptocurrency market was explored by investors who were speculating on the outcome, while gold was sought after by investors looking to secure their funds. Simply put, there was no direct correlation other than the investors’ interest in both assets during the same period.

Different assets

The difference between the assets upholds their lack of correlation. Gold is a physical asset, which means its use and properties are much more flexible than Bitcoin which is purely a digital asset. Gold has inherent value, it can be used in various industries and has cultural value as well. That means that gold is, and will always be highly sought after and on high demand. That’s why the gold price has remained steady throughout the years compared to Bitcoin prices that experience extreme volatility. For instance, Bitcoin reached its top price of $17.900 on December 22, 2017.

On the 5th of February, 2018, the price of Bitcoin fell to $6.200, which is more than 50% decrease in less than two months. The price of gold is determined by the global economic situation and demand, whereas digital assets are unregulated and their prices are uncertain at best. For example, gold prices go up whenever there are fluctuations in the stock market. Investors prefer an asset that can secure their funds or even yield a profit as opposed to an asset that’s too risky.

Market dynamics

The gold market is more mature and well-developed, as well as regulated. On the other hand, the crypto market is fairly new and still in the process of adjusting. The increased popularity of digital assets also leads to the adoption of more cryptocurrencies. Aside from Bitcoin, there are over a thousand different currencies on the market. However, not all currencies are sought after or have the potential to become investments. That’s why the crypto market still cannot correlate with gold, but that doesn’t mean digital assets won’t experience more stability in the future.

Even though the idea behind Bitcoin and blockchain technology was originally to be unregulated by officials and decentralized from a banking system, it seems that it does require a bit of regulation in order to stabilize and operate on an optimal level. The lack of security and safety does force investors to tread carefully when investing in cryptocurrencies, whereas gold can provide certain security even in the worst of scenarios.

Relationship between assets

So far, experts have been arguing about the existing or nonexistent correlation between gold and Bitcoin. Regardless of the current situation, there’s undeniably a relationship between the two. Both assets are considered hedges against inflation and global economic difficulties. However, gold is still perceived as a more stable investment than digital assets.

The fact of the matter is that whenever cryptocurrency value decreases, gold prices go up, as investors return to their “safe haven” investment. The main reason is digital asset volatility. Increased volatility means greater risks and investors would prefer not to risk it, making investments that are meant to secure their funds. With that in mind, when the digital currency market stabilizes, the relationship between these two assets may improve and there may even be more correlation between them as well.

 

Whether there’s a correlation between gold and Bitcoin is still debatable. Where one party sees a correlation, others see coincidence. That’s why it’s difficult to determine the relationship between these two assets. As for now, gold is considered a less risky and a more flexible investment, whereas Bitcoin, although perceived as a hedge, is considered too volatile to overtake gold. From an investor’s point of view, gold and digital assets are two very different assets.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack
VPN for crypto trading, Holytransaction

Why it’s necessary to use VPN for crypto trading?

VPN for crypto trading, Holytransaction

Cryptocurrency is no doubt the latest innovation and revolution in banking in the world today. It gives people the power to take full charge of their wealth, how it is stored, what happens to it and so on. However, with new invention comes new challenges and as the world slowly but gradually accepts Cryptocurrency as the new way of storing money there is a need to simultaneously adjust the way we secure it. For the vast majority of people who store their money in banks, there is little or no worries in terms of security as ideally, the banks have insurance cover against a breach in their security system, theft, and lastly potential hacks. This is not the case for Cryptocurrency as funds are only as safe as we want them to be. Basically, private keys show where your wealth is located and if anyone has access or knowledge of them you can kiss your money goodbye.

Many Folks trading cryptos from their laptops in their bedrooms, office or elsewhere may feel a false sense of safety and security as they cannot physically sense that they are being watched. The fact is people using the internet today are rarely alone. It may simply be an autonomous piece of code monitoring your activities online or someone somewhere in a government basement or Private Corporation physically monitoring you while you go about your crypto trading business. It may as well be someone else somewhere with the skills and knowledge to do so. Regardless of who and what is monitoring you the fact is your Crypto is almost always at risk.

Many ideas have been put forward about the best and most effective way of protecting Cryptocurrency. Many experts believe that one of the worst ways to protect a crypto wallet is to put it on the exchange. The ‘million dollars’ question now is what is the safest way of protecting your private key and Cryptocurrency?

Now imagine for a second that you do not have to worry much about this risk, imagine that every bit of information you send and receive is encrypted, and imagine that only the sender and receiver of any information can have access to it. Would that not be great? Read an expert review on saferVPN which is one of the most popular VPN services here: bestvpn24.com/safervpn-review/.

More Reasons to Protect Yourself While Crypto-Trading

A Digital Trail: Everything digital leaves a trail. Cryptocurrencies are basically electronic cash. Traders typically make use of an electronic wallet that sends electronic cash to another wallet. Bitcoins are not anonymous as we all would love them to be, they are simply pseudonymous.  Crypto- Traders who use pseudonym addresses are more like writers who go by their pseudonyms. If their true identity/name were to be uncovered all their previous works under their pseudonyms will be linked to them. In the same way, all Bitcoins transactions are stored up in a blockchain and regardless of whether you use a pseudonymous address or not if that address can be in any way linked to you everyone will know the entire history of transactions you have made.

A school of thought argues that using a real name/identity for trading Cryptocurrency anonymously is not necessary since you have a Bitcoin wallet address; however, this is only true if that address is unique and changes for each transaction.

Stores can uncover real identities:  Folks who are a bit conscious of how the security risk of trading crypto has ingeniously adopted means sure as having more than one wallet, making multi-input transactions, using web-hosted ‘eWallets’ to conceal identity and so on.

The truth is these methods are not very effective as online retailers and stores have access to their Bitcoin address when they make transactions with them. In addition, the payment processor which retailers utilize can also be used to uncover their real identity.

The bottom line is users are made to reveal their identity in order to get good and services when making payments online which consequently implies that Cryptocurrencies are not really anonymous.

Cryptocurrencies do not encrypt traffic: The basic system employed by Cryptocurrencies is such that when coins are sent, they are first taken to the Bitcoin’s nodes where they are encrypted. Furthermore, the communication between nodes is encrypted but that is about it. There is no encryption of the internet traffic which means that ISPs can collect information on the origin and destination of any transaction.

How VPNs Help Crypto-Trading

    Using a VPN mask the IP address from a computer which is very useful to stay secure from government agencies and corporations.

    With a VPN you can trade anywhere in the world. The best VPNs are capable of unblocking geo-locked websites. Traders who are blocked from local websites due to government policies can easily access those sites with a VPN.

    Even while making online transactions with your bank, you are made to provide some vital information about yourself. Similarly, trading platforms also request some personal information and bank details; a very good VPN will protect this data from hackers and other third parties.

    With a VPN, traders can enjoy faster internet connections while performing their transactions. Time is a vital component of trading online and a few seconds or minutes lost due to speed and connection issues can be very costly.

    To avoid taxes and government surveillance: The number of countries and financial markets that still prohibits the trading of digital currency is still much. Without a VPN it will be difficult to safely enter financial markets where trading is both legal and illegal.

The government of some developing countries impose enormous taxes on financial transactions, having a VPN will ensure that you are able to avoid paying such taxes on.

    You can avoid legal issues: Legal issues can arise in countries where trading Cryptocurrency is illegal. With VPNs, traders can go about their business anonymously.

Conclusion

Using a VPN to protect your digital cash by securing your personal and banking details is really something that is paramount. Some of the best VPNs are cheap and readily available just make sure you check out some of the amazing features and services before you pick one.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack