The Full Guide to Kodak Coin: How to Buy and How to Use it

What is KODAKCoin?

Back at the beginning of the year, there had been plenty of hype surrounding cryptocurrencies, in particular, Bitcoin, the Blockchain technology and initial coin offerings.

Kodak was amongst the first looking to cross the divide and certainly, the oldest, established in 1888, with a 31st January Initial Coin Offering having been delayed, but not canceled, the advantages of raising funds through an ICO and the benefits of blockchain technology too great to ignore for the Kodak team.

For Kodak, a shift in direction has been needed for some time, with the evolution of the industry into digital imagery having led to Kodak to filing for bankruptcy protection back in 2012. The move into blockchain making more sense than initially meets the eye.

Back in January, when the ICO was announced, Kodak shares rallied by 197% in a single weak as the prospects of a move into the virtual world have been seen as a positive, one that could take Kodak back to the pinnacle of the industry. Kodak’s share price that had hit a high of $13.28 is back down at $3.7, but success in the development of KODAKOne could see more traditional stockholders cash in alongside those grabbing KODAKCoin tokens, once they are available.

Kodak’s initial coin offering is to fund and develop the KODAKOne blockchain technology in partnership with Wenn Digital.

KODAKCoin is described as an ERC-20 token that works on the Ethereum network and could become a mainstream means of payment in the world of digital imagery.

KODAKCoin ICO

At present, KODAKOne is not offering and selling KODAKCoin tokens directly, with all offers and sales being made pursuant to SAFTs (Simple Agreements for Future Tokens), priced at $1.00 during the initial funding round. No KODAKCoin tokens will be issued immediately.

The KODAKCoin SAFT Offering is live and to subscribe, investors can subscribe via the KODAKOne website.

Each SAFT requires the relevant purchaser to submit payment to WENN Digital, Inc. or authorized agents in exchange for the right, upon exercise of the option, to receive KODAKCoin tokens in the future. The Option is only exercisable on or after the later of (i) the launch of the KODAKOne platform and (ii) the one-year anniversary of the date of the purchase of the relevant SAFT; provided, however, that WENN Digital, Inc. may, in KODAKOne’s sole discretion, postpone issuance of KODAKCoin tokens upon the exercise of any Option until such date on which, in the opinion of KODAKOne’s legal counsel, KODAKCoin tokens will not be deemed to be “securities” under the SEC’s Securities Act.

In the event that no legal opinion is issued by 1st July 2019 and the relevant purchase has exercised the option under the terms of the SAFT, KODAKOne will immediately issue KODAKCoin tokens to such purchaser.

The SAFT structure is being used to allow the KODAKOne team to develop the KODAKOne platform and analyze any changes or developments in applicable law prior to the issuance of KODAKCoin tokens.

At present, the purchase of KODAKCoin tokens by way of SAFTs is only possible for accredited investors, as per SEC regulations.

WENN Digital, Inc. anticipates conducting a public KODAKCoin token offering, open to all investors, once the KODAKOne platform is fully functional and KODAKCoin tokens have been issued.

The launch of the beta phase with agencies is anticipated to take place in the 4th quarter of this year, with the KODAKOne platform expected to go live in June 2019.

How to Buy KODAKCoin?

While accredited investors are able to purchase SAFTs by subscribing via the KODAKOne website, actual KODAKOne tokens will not be available for sale until the KODAKOne platform goes live, currently scheduled for June 2019.

Upon ‘Go-Live Date,’ WENN Digital, Inc. anticipates conducting a public KODAKCoin token offering open to all investors once the KODAKOne platform is fully functional and KODAKCoin tokens have been issued.

For Photographers and other members of the KODAKOne platform’s community, who are not accredited investors, alternative methods of acquiring KODAKCoin tokens will include:

  • Users will be able to upload their high-quality images and earn KODAKCoin tokens in the form of licensing and post-licensing payments.
  • Users will be able to acquire KODAKCoin tokens by selling products and services on the KODAKOne marketplace.
  • Users will be able to earn KODAKCoin tokens by participating in KODAKOne’s big data and artificial intelligence programs for corporate clients.

Once KODAKCoin tokens have been issued, a number of exchanges are also anticipated to offer KODAKCoin tokens for trading.

The Usage and Benefits of KODAKCoin

With the rollout of KODAKOne, KODAKCoin will be the token of choice for professional and amateur photographers the world over and even more so if KODAKOne takes the digital imagery world by storm and there’s certainly no reason for it to fail.

On the one side, photographers who have registered their digital works on KODAKOne will receive royalties and payments for works in the form of KODAKCoin tokens, with photographers, both professional and amateur, able to place works on KODAKOne, with prospective customers able to make payment for both services and registered digital imagery under defined copyright laws, protecting both the photographers and the users of the digital images made available on KODAKOne.

The benefits are all too clear, with the World Wide Web as we know it today failing to identify copyright infringements and provide revenue streams to the owners of digital imagery as a result of frequent infringements.

When considering the volume of digital imagery already found on the World Wide Web, estimated to be in excess of 1.2tn, KODAKOne’s target of 10m images to be on the KODAKOne platform by the 2nd quarter of 2019 certainly looks achievable, the incentive for copyright owners clear with the prospect of increased revenue streams from the appropriate licensing of digital imagery under copyright.

KODAKOne has three key areas of focus to address in order to level out the playing field:

  • Money: Amid the proliferation of content on the web, many images are invariably used without a license; it’s also inefficient and costly for photographers to administer image licensing, infringement detection and reporting. As a result, photographers leave a lot of money on the table.
  • Trust: Industry-wide lack of transparency means that photographers are unable to verify royalty statements.
  • Time: Considerable effort goes into managing, protecting and distributing photographers’ images; it’s fragmented across multiple parties and platforms and demands an unnecessary amount of attention and care from photographers.

The team believes that blockchain technology provides the most optimum way for photographers and agencies to store digital image assets and associated metadata in a way that can track ownership, rights and license transactions regardless of where those images are used and by whom.

The combination of the KODAKOne platform and KODAKCoin tokens deliver a licensing platform that tracks usage, gives creators more control over licensing, while also enforcing copyright, not to mention create a marketplace to meet all of the needs of photographers.

The key aspirations of KODAKOne and KODAKCoin can be summarised as follows:

Cryptocurrency: KODAKCoin tokens simplify and speed up payments, with all stakeholders involved in the licensing process receiving their share simultaneously according to the terms of the smart contract saved on the KODAKOne licensing platform. Additionally, it is the driving force behind the KODAKOne marketplace, where photographers can purchase almost everything needed in orders to succeed in their professional careers.

Post-Licensing: The KODAKOne platform acts as a “police officer,” enabling any infringements to be quickly discovered; the platform identifies violations and provides simplified legal proceedings and preservation of evidence; with a friendly approach, the team aims to recover license fees and convert infringers into customers.

Artificial Intelligence: The KODAKOne platform will categorize and enrich images in multiple ways – helping collect and tag valuable information associated with a certain image to help photographers and agencies to effortlessly organize imagery. The KODAKOne platform will also support copyright holders to legally clear their images and make the process as simple as possible.

Big Data: With the use of AI Tech, KODAKOne will collect and process everything there is to know about an image, including how people are using it digitally. This provides photographers and agencies with real-time data to assist them with content plans, refining distribution and marketing strategies.

Blockchain: The digitized, decentralized blockchain ledger will make it easier to store and access information without the need to go through a central authority such as a distributor. Photographers will have much more control over licensing and most importantly, can earn a much higher share of the license fee. It establishes proof of ownership and enables the platform to process license fees in real time using smart contracts – lending both trust and ultimate control to copyright holders worldwide.

Web Crawling: KODAKOne’s web crawlers search millions of websites globally in order to collect active data about the usage of a photograph and to check for a valid license. By using AI, the more information the web crawlers collect, the more intelligent and efficient they become in data collection and infringement identification over time.

KODAKOne Platform and KODAKCoin Cryptocurrency

KODAKOne is described as an image rights management platform that delivers an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they will then be able to license on the platform.

For photographers, the world of photography may get a lot simpler should KODAKOne take off, with KODAKCoin tokens allowing participating photographers to take part in a new economy for photography that facilitates payments for licensing work immediately upon sale and to sell works confidently on KODAKOne’s secure blockchain platform.

KODAKOne’s platform will provide continual web crawling to monitor and protect the IP of the images that are registered in the KODAKOne system. Where unlicensed usage of images is detected, the platform will efficiently manage the post-licensing process, with photographers then rewarded with KODAKCoin tokens.

The KODAKOne platform not only widens the net for the more established professional photographers but also gives amateur photographers a platform to display works and possibly become paid photographers, with the virtual world of blockchain breaking down boundaries to bring photography to the far reaches of the globe.

KODAK’s move back into the digital imaging space could not have been timelier with there being any single, global rights management platform for image licensing.

The KODAKOne platform eliminates problems that most, if not all photographers face with the publishing of works on the World Wide Web, where images are frequently used without the permission of the photographer despite being protected by copyright, leaving the owners of the work to miss out on sizeable income streams.

With the lack of a rights management platform today, photographers are just unable to license their images and identify copyright breaches, let alone benefit from the royalties that would come from such a platform.

The KODAKOne platform essentially removes all of the obstacles that photographers face, by delivering a platform that uses Ethereum smart contracts, with the owners of the rights to images receiving payment instantly with KODAKCoin tokens.

The platform is an end to end management system that handles the registration, protection, and distribution of imaging to deliver income streams that are absent for photographers today.

While photographers will receive royalties with KODAKCoin tokens, holders of KODAKCoin tokens will, not only be able to buy digital images online, but also services including flights, hotels, and apartments, while also being able to make payments for venues and studios and hire models for shoots.

The added benefit for photographers who join the KODAKOne community, is the web crawling functionality that will detect the usage of the images that they have registered on the KODAKOne platform, with any copyright breaches leading to users being charged for usage or for damages stemming from the illegal use of the works, giving photographers the prospect of being back paid for work as well as opening revenue streams that were not accessible before.

Features of the KODAKOne platform can be summarised as follows:

  • Image Registration: Provides immutable proof of ownership of images and enables members to take advantage of the platform’s wider services.
  • Rights Management: Every license will be documented by a smart contract on the blockchain confirming copyrights, licensing terms and conditions to the associated image or images.
  • Transparent Accounting: Royalty payments will be able to be received instantly via the KODAKOne platform’s smart accounting and reporting system; community members don’t need a separate accounting system, as all payment and accounting related information is saved on the blockchain.
  • Community Marketplace: The KODAKOne platform marketplace will enable KODAKCoin token holders to buy, sell and book products and services.

There’s a long way to go before the KODAKOne platform hits the public domain and for non-accredited investors to be able to get in on the action, but the structured approach to rolling out the platform and KODAKCoin tokens may set new standards for the broader ICO market.

How to Buy Bytecoin(BCN): A Complete Guide

So what is ByteCoin?

ByteCoin is a decentralized digital currency that focuses heavily on privacy and security.  Simply put, it is an untraceable cryptocurrency, which uses CryptoNote signatures to ensure anonymous transactions. The privacy-focused crypto coin was created’ in 2012 and released to the public on March 2014.

Just like the core objective of the cryptocurrency, developers behind the Altcoin have remained anonymous. However, the team has gone on to make a number of improvements that have enhanced ByteCoin privacy-focused features. For instance, the cryptocurrency can now support multi-valued transactions supported by unique security features.

ByteCoin developer’s team has been working on improving a number of issues that have prevented people from using Bitcoin. Top on the agenda is fixing the privacy issues of the largest cryptocurrency by market cap.

The team is also hoping to address scalability issues that will make it possible for the Altcoin to support more transactions per second, thereby making it scalable in the ever-changing financial atmosphere.

How to Buy ByteCoin

There are several ways to buy ByteCoin using fiat currency. However, it is not possible to buy the Altcoin directly like Bitcoin and Ethereum in most cryptocurrency exchanges. Below is an easy tutorial on how to go about the same.

Create a Cryptocurrency wallet account

A digital wallet is a must as it is where cryptocurrencies are stored once bought from cryptocurrency exchanges. It is not advisable to leave cryptocurrencies in exchanges, as they are usually susceptible to hack attacks.

Given that ByteCoin is bought by exchanging it with other cryptocurrencies such as Bitcoin wallet, you will have to open a digital wallet that supports either bitcoin or Ethereum. One of the best, in this case, is MyEtherWallet.

Create a cryptocurrency Exchange Account

Once a digital wallet account is set up, you will have to create an account with one of the reputable cryptocurrency exchange. Such platforms provide an easy way of buying popular cryptocurrencies that can be used to purchase other digital currencies.

Coinbase is a perfect fit in this case as it is regulated by the U.S government and follows strict financial rules.

Buy Ethereum

Once you have opened a Coinbase account, use your credit card or other payment options offered to buy some Ethereum’s from the cryptocurrency exchange. Once you have purchased, some Ethereum, be sure to transfer them to your digital wallet which in this case is MyEtherWallet.

Open an Account in an Exchange That Accepts ByteCoin

Now that you have Ethereum, you will have to open an account with an exchange that supports ByteCoin. Some of the exchanges where BCN is traded include, Binance, HitBTC.

Once you have opened the account, find your ETH wallet address, as the details for finding can be different depending on the website. Copy or write the ETW wallet address in the BCN exchange account to transfer the Ethereum’s from your digital wallet.

When Ethereum appears in your BCN exchange account, you will now be able to exchange them for BCN tokens depending on the exchange rate and the total amount of Ethereum’s transferred. To complete the process, you will have to look for BCN/ETH trading pair to initiate a ‘Buy’ order with the ETH funds.

Once you initiate Buy Order, you should be able to buy some BCN.

You can also buy BCN using Bitcoin. In this case, open an account with Binance to be able to exchange bitcoins for ByteCoin.  BitPanda is another platform that allows people to use Skrill money transfer to buy bitcoins or Ethereum, which is then exchanged for BCN.

Where to Store BCN

Once you have bought, BCN from you will have to find a secure a ByteCoin wallet to store the tokens as Cryptocurrency exchanges are always on hacker’s radar.

Desktop Wallet: Desktop are some of the best for storing BCN as they are compatible with Mac, Windows, and Linux. A desktop wallet can also be accessed from any web browser. Android users can also store their BCN holdings on a mobile wallet. The team is yet to release an iOS wallet.

Encrypted passwords accompanied with two-factor authentication should always be used with these wallets as an additional measure of keeping hackers at bay.

How ByteCoin Works

Transactions involving most cryptocurrencies are usually posted to a public ledger, making it possible for third parties to trace transfers between wallets. This is a deficiency’ that most privacy-focused cryptocurrencies like ByteCoin are trying to address.

By using a third-party tumbler to mix transactions, ByteCoin hopes to seal the loophole that makes it possible for people to trace transactions on a public ledger. To do so, all ByteCoin transactions are based on CryptoNote, a payment scheme that is completely untraceable.

The technology implements a ring signature technology, which allows anyone in a group to sign on behalf of a group. All possible signers are indistinguishable from each other. One-time ring signatures are usually mixed with other possible accounts on a network, thereby providing another layer of anonymity.

CryptoNote ensures untraceable transactions on a public ledger and unlinkable. Each transaction, in this case, uses a one-time public key, even if a person is conducting multiple transactions. The use of a one-time public key eliminates the problem of address re-use, familiar with other cryptocurrencies, thereby making it impossible to trace the origin of a transaction.

Mining of ByteCoin

The use of Proof-of Work algorithm increases the possibility of mining operations in cryptocurrencies being centralized’ among miners with powerful GPU and ASIC Machines. In a bid to ensure mining operations are entirely decentralized, ByteCoin relies on a new algorithm dubbed Egalitarian proof-of-work.

Egalitarian uses a version of the script, a proof of work function, similar to the hash cash function. Because the algorithm is not memory bound, it makes it easier and cheaper to produce highly efficient CPU mining rigs that anyone can use to mine ByteCoin.

ByteCoin Features

Use of Proof Work Algorithm

ByteCoin being an open source software uses the Principle of proof-of-work for mining. The algorithm for mining in ByteCoin differs from others, as it uses AES command system for X86 microprocessors and a significant amount of memory.

The mining protocol also uses CryptoNote algorithm which provides the maximum program anonymity. All transactions in the stream are therefore anonymous, and all participants in the system can use plausible deniability in the event of capture.

ByteCoin Emission

Unlike fiat currencies, ByteCoin emission is an open process that employs the computing powers of all network members. Anyone can join the network with a substantial amount of computing power and be able to mine the token. Mining in the network results in the creation of new money and miners are normally rewarded for the addition of a new block on the blockchain.

Transactions on ByteCoin network are carried out every 120 seconds and miners ensure that transactions are processed correctly while providing cryptographic protection of transactions and personal data.

Given that ByteCoin is a privacy-focused Altcoin, miners cannot access user’s financial information while processing transactions.

Deflation

The total number of ByteCoin coins that will ever be mined is currently capped at 184.47 billion. With the number of coins emitted every 120 seconds on a constant decline, the token appears to be getting expensive and becoming more valuable with each passing day.

ByteCoin emissions are decreasing slowly something that protects the currency from economic shocks

ByteCoin transactions

Transactions carried out using fiat currencies are normally processed using an intermediary which in most cases is usually a bank or other financial institutions. ByteCoin transactions, on the other hand, are carried out over the internet where there is no intermediary for privacy reasons.

ByteCoin network offers instant payments globally as it works as fast as the internet. Transactions are normally processed in about 2 minutes. Cryptographic algorithms that cannot be hacked secure user’s money.

Safety and Reliability

ByteCoin transactions are extremely reliable because computational power of all the computers in the network facilitate transactions. The network tends to be more reliable with an increase in the processing power.

Bottom Line

ByteCoin is one of the best blockchain projects to take privacy and anonymity of cryptocurrency transactions to another level.  The Altcoin is not a replacement of Bitcoin, but a digital currency that addresses some of the deficiencies of the popular cryptocurrency.

By implementing, the CryptoNote Protocol, ByteCoin continues to serve as a model for other cryptocurrencies looking to enhance transparency and anonymity when it comes to transactions on a blockchain. As the technology continues to evolve and advance, ByteCoin should continue to advance the privacy needs of users around the globe.

What is Storiqa (STQ) Coin and How To Buy It?

What is Storiqa?

Storiqa casts itself as a new generation platform with all the necessary tools needed to create online shops. Unlike other projects looking to make a name for themselves in the ever-growing e-commerce space, Storiqa is leveraging the capabilities of blockchain and smart contracts to set itself apart from the competition.

Storiqa provides sellers and merchants an easy way to set up online stores in under 60 minutes and be able to start trading immediately. Simply put, it is a platform created for buyers and sellers with an easy to use store builder.

Storiqa went live 10 months ago, a period in which it has raised a total of $25 million via a token sale. The company has also attracted more than 55,000 investors and seen its market cap skyrocket to more than $150 million. The marketplace has already released beta MVP version

How to Buy Storiqa(STQ)?

Just like any other cryptocurrency (Bitcoin, Ethereum, Rrpple, etc), Storiqa can be bought in three easy steps via one of the exchanges that offer the coin.

Get Yourself a Digital Wallet: MyEtherWallet

The first step to buying Storiqa requires one to open a digital Wallet that acts as a private bank where any purchased tokens are stored. MyEtherWallet works perfectly well with Storiqa given that fact that it supports ERC20 tokens.

Once you open a MyEtherWallet, it is vital to ensure that issued encrypted private keys are well stored as they act as login keys to the wallet.

Visit Cryptocurrency Exchange

Coinbene and Indodax are the two commonly used cryptocurrencies exchanges.

Once you have bought a substantial amount of Ethereum, be sure to send them to your MyEtherWallet from where you will be able to access them.

Exchanging Ethereum to Storiqa

To complete the process, visit site Idex and create a new wallet by clicking on ‘new Wallet.’ Once you have opened a new wallet, copy the Idex wallet Address and paste it on the Ethereum Wallet and then type the amount of Ethereum you wish to send and then click ‘send.’

Once you click, send navigate to STQ/ETH on the Idex platform and scroll down until you see ‘Buy STQ’ click on it, to complete the conversion process of ETH to STQ. Bought STQ coin can now be transferred to a personal ERC20 wallet which in this case is MyEtherWallet.

Shopping 2.0: Crypto Shopping – Storiqa Features

Storiqa is planning to help businesses streamline their sales processes for the new digital economy with cryptocurrencies and smart contracts. The blockchain powered platform comes with functions that allow vendors to monitor their customer’s activity in a bid to come up with ways to optimize online stores in an effort to meet customer needs.

Businesses will be able to gather, analyze and process customer data through the platform’s built-in tools. Store owners will also be able to receive feedback calls from clients with limited setup time required, thanks to an integrated telephony service.  Owners will also be able to save and playback any recorded calls and be able to monitor the performance of call center managers.

In addition, the marketplace is translated into six languages providing business owners a unique opportunity to expand their customer base by tapping foreign markets.

Storiqa stands out in part because it comes with affiliate marketing tool designed to make it easy for vendors to attract traffic to increase sales. It also comes with a transparent review system that ensures fair trading for all participants in the ecosystem.

In addition, it has support for a multi-currency wallet that makes it possible for customers to use their preferred payment option to complete transactions.

Integration of smart contracts should make transactions in the platform extremely fast and secure. The use of smart contracts will also ensure that money only ends up in seller’s accounts on buyers confirming delivery.

Storiqa Token

STQ is the network’s native cryptocurrency made according to blockchain standards and will be the primary currency within the Storiqa marketplace. Low transaction costs are some of the benefits touted as the reason why people may settle on the coin.

Storiqa conducted a token sale of the STQ tokens early in the year. Any person who purchased the tokens at the ICO is eligible for more profits and bonuses. The starting price of one STQ token at the ICO time was 0.003$

Storiqa Coin Features

Storiqa coin, just a like a good number of cryptocurrencies has a cap on the total number of coins that will ever be in circulation. The maximum supply is pegged at 11,287,544, 272 STQ coins. Currently, there are about 7, 767,544,247 STQ coins in supply.

Storiqa carried out its first Initial coin offering between November 27, 2017, and January 26, 2018. The firm intends to supply 10% to early STQ first purchasers, 15% is to be made available to Storiqa team. The remaining 60% was distributed through the token sale.

The cryptocurrency has a steady supply of coins and accepts both soft and hard coins. One of the digital wallets that the coin is compatible with includes Storiqa Wallet, MyEtherWallet and any Wallet that is ERC20 Compatible as it is an ERC20 token. STQ tokens are to be used for external and internal payments on Storiqa’s marketplace.

Bottom Line

Storiqa is crypto marketplace with the aim of creating a quick-to-setup marketplace for SMEs with minimal financial borders and global transactional fees. Their key features and tools are based on using cryptocurrency and blockchain technology to resolve existing industry problems between buyers and sellers.

How to Buy EOS Coin: A Complete Guide

Before we get into the business of buying EOS tokens, it is essential to have a clear idea of what EOS is all about.

What is EOS?

Ethernet over Sonnet (EOS) is a powerful blockchain-based infrastructure that enables the development, hosting and execution of decentralized applications.  EOS is a brainchild of, Dan Larimer who is also the co-founder of Bitshares and Steemit.

Just like Ethereum, it provides an operating system that simplifies the process of creating Decentralized Applications commonly referred to as DApps. However, unlike Ethereum, EOS seeks to be more scalable and flexible in a bid to make it easy for developers to come up with decentralized applications.

Decentralized applications run on a decentralized rather than centralized peer-to-peer network servers. Unlike other apps, they don’t require third party or intermediaries for operations. Instead, they connect providers users directly.

How EOS Works

Simply put, EOS is an architecture that compliments the internet. It acts as a software that allows developers to create decentralized applications while leveraging blockchain technology. EOS network is designed to meet the performance requirements of decentralized applications when it comes to interacting with millions of people at any given time.

Unlike other platforms used for DApps, EOS has no fees requirements. It is also upgradable and comes with low latency that allows for scaling of transactions to millions per second.

The EOS network uses Delegated Proof of Stake DPOS as its consensus algorithm to secure the blockchain. Unlike Proof of Work (POW) or Proof of Stake (POS) algorithms, only those holding tokens on a blockchain utilizing the EOS.IO software are allowed to vote for block producers. Delegates can only produce blocks depending on the number of votes they receive with respect to other producers.

A single authorized producer produces a block in EOS blockchain every 3 seconds. The network rewards block producers with tokens instead of transaction fee, for every block produced. EOS relies on people and voting to secure the blockchain as opposed to miners solving complex puzzles.

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EOS Token

Outside the open source software, there is an EOS token that powers the network. The token was released using Ethereum. The native cryptocurrency can be used and exchanged for other cryptocurrencies.

However, its primary purpose is to power the EOS ecosystem. Anyone looking to develop decentralized applications using EOS blockchain must own some EOS to manage demands on the network. To be able to run an application one needs disk space as well as CPU, time and RAM. Block producers must publish capacity of the three, by first buying server time using EOS tokens.

The EOS network is similar to a decentralized operating system whereby developers can build applications. It is powered by the EOS coin which acts as a claim of on server resources. Developers need EOS coins to be able to access and use the EOS blockchain

How To Buy EOS

There are many ways through which EOS tokens can be acquired’ to be able to access tools and resources needed to build decentralized applications on the EOS blockchain

STEP 1. Choosing an EOS Wallet

The first step to owning EOS tokens entails owning a functional digital wallet that can be used to store tokens, bought. Currently, there are no official EOS wallets, which means one has to rely on third-party wallets.

Given that EOS uses the ERC-20 token, one can store tokens in any ERC-20 Compatible Wallet

The Best EOS Digital Wallets

Desktop Wallets

Jaxx and Exodus are some of the most sought after desktop wallet for EOS storage. The fact that both of them are multi-cryptocurrency wallets means they can be used on Windows, Mac, and Linux. Jaxx can also be used on Android and iOS-powered devices.

Exodus is a free desktop wallet with user-friendly features. It comes with a live chat feature for checking the value of one’s EOS holdings, promptly and easily.

Jaxx, on the other hand, is ideally suited for beginners given that it is flexible and easy to use. It is compatible with iOS and Android devices and can still be accessed through Chrome browser extension. Jaxx also comes with a 12- word master seed for recovering the wallet.

Another key advantage of using the two wallets has to do with the fact that they come with the ShapeShift functionality, which allows for easy trading of ERC-20 tokens that one might possess.

Web Wallets

Web Wallets are the best as they allow for safe storage of tokens on a computer rather than online. MyEtherWallet is an open source EOS wallet that stores user’s private keys on a computer. MyEtherWallet is among the best as it allows users to be in full control of their information.

Mobile Wallets

Mobile wallets come hand in handy when one wishes to access their EOS holdings via a smartphone. Jaxx Wallet is a perfect fit in this case as it has support for iOS and Android devices.

Hardware Wallets

These types of wallets use a piece of hardware to secure tokens by providing a form of cold storage.  Trezor is a perfect fit in this case as it has multiple layers of security that allow it to operate on zero Trust approach.

Trezor comes with a four-digit pin code designed to shield people’s holdings from unauthorized people. It also comes with a 24-word seed that is useful in case one loses the wallet or forgot the Pin Code. Other layers of security that may come hand in handy include Encrypted passphrase and wipe password.

To be able to use this wallet you will have to pat with $104, which makes it one of the most expensive digital wallets.

What to Look For in an EOS Wallet

  • Security

In a world where hackers are constantly looking for loopholes to steal tokens, security should be a top consideration when selecting an EOS wallet. It is thus important to analyze the kind of security features that a wallet comes with, to be on the safe side. Things like two-factor authentication and advanced encryption are a must in this case.

  • Private keys

An EOS wallet should be able to provide support for Private Keys as they enable the sending and receiving of tokens. A good wallet is one that allows one to retain control of the private keys.

  • Continued Development

A wallet that is constantly evolving with new features would be perfect given that the cryptocurrency landscape is changing by the day. Hackers are becoming powerful by the day thus important for a wallet to also evolve.

  • Reviews

It is important to be on the lookout for what other people are saying about an EOS wallet before settling on one. Always look out for things like security flaws in the reviews as well as talk about customer service and development team.

Step 2. Visit a Cryptocurrency Exchange

Cryptocurrencies exchanges act as stock market where one can buy and sell an array of digital currencies. Once you have set up a digital wallet, the next step to buying EOS tokens entails visiting a crypto exchange.

Buy EOS on Binance

Binance is one of the biggest and most reputable crypto exchanges, listing a number of Altcoins including EOS tokens.  Unlike other transactions, Binance only accepts cryptocurrencies as a mode of buying other Altcoins.

Once you have opened a Binance account, ensure you have some Bitcoin or ETH to be able to purchase EOS.

Buy EOS in Kraken

Kraken Cryptocurrency is one of the best exchanges for buying EOS tokens, given that it accepts a wide array of payments. For instance, you can use fiat currencies of the likes of USD, EUR, and GBP to buy tokens in addition to other digital currencies.

It is easy to register for an account with the crypto exchange and charges low transaction fees.

Buy EOS via ShapeShift

ShapeShift provides an easy way of owning EOS tokens anonymously.  Unlike all the other cryptocurrencies exchange, you don’t have to sign up for an account with ShapeShift.  In the exchange web page, you will be able to select the crypto you want to swap which in this case could be Ethereum Bitcoin, etc.

Next, you will have to select the crypto you wish to receive which in this case would be EOS. Once all this is done, ShapeShift will create a deposit address once you deposit the funds.

Buy EOS on Bitfinex

Bitfinex is a perfect fit for anyone looking to buy EOS using U.S dollars given that it is one of the traded pairs in the exchange is EOS/USD.

Buying EOS with Fiat Currencies

Currently, there is no way to buy EOS using Fiat currencies. The only thing one can do is visit an exchange like Coinbase and use fiat currencies to buy ETH or BTC. Once in possession of either BTC or ETH, you can use them to buy EOS on any of the top crypto exchanges.

Coinbase and CEX.IO are the two exchanges that allow one to use credit or debit cards to buy crypto of choice.  Once you have bought, say a BTC or ETH you can transfer it to another exchange such as Binance and use it to buy EOS.

Step 3. Withdraw EOS Tokens to Your Wallet

Once you have bought the desired amount of EOS tokens from crypto exchanges, it would be important to transfer them to a secure a crypto wallet. Never leave your holding on an exchange as they are most vulnerable to hack attacks.

Crypto wallets ensure one’s holdings are protected in case an exchange becomes insolvent or gets hacked.


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EOS Features

  • Scalable

EOS network is scalable in that it can support thousands of commercial-scale decentralized applications at any given time. The network can also process millions of transactions, a second, with the use of asynchronous communications.

  • Zero Transaction Fees

Unlike other blockchain projects that charge people transaction fees, EOS will allow people to access its blockchain resources depending on their EOS token holdings.  However, individual app developer determines transactions fee that is generally low.

  • Governance

Block producers hold the right to determine which transactions are confirmed on the blockchain, in addition to being able to make changes to the EOS systems or the source code. What this means is that the community can upgrade downgrade or fix bugs on the system.

  • Blocks Formation

In EOS network, blocks are produced every three seconds, by delegated’ block producers. The fact that the network has a limited member of delegates producing blocks at any given time means that blocks are solved in batches of 21.

Ethereum vs. EOS

While Ethereum and EOS are extremely popular because of their efforts to capitalize on the capabilities of blockchain technology, they also differ a great deal.

  • Programming language

Developers looking to develop decentralized applications on Ethereum must be conversant with solidity, a programming language on which applications are run on the network. Programming language Limitations is seen as one of the reasons why a number of developers have shunned the network.

EOS, on the other hand, is compatible with any programming language as long as it can be compiled in the Web Assembly.  A majority of developers in the network use C++, a programming language that is appealing and popular.

  • Consensus protocols

Ethereum runs on Proof of work consensus protocol which can process an average of 15 transactions a second. The downside of the protocol is that it makes it impossible to fix broken decentralized applications on the network.

EOS on its part relies on delegated proof of stake that eliminates a good chunk of the challenges that Ethereum network faces.  The protocol allows developers to freeze the network whenever a broken application is detected.

One of the benefits of the DPOS protocol is that it allows EOS to process an average of 1,000 transactions per second

  • Network Economics

EOS network operates under an ownership model whereby EOS tokens give a proportional share in the network bandwidth storage and processing power. It also comes with zero transaction fees and no costs for developers except the initial EOS tokens.

Ethereum, on the other hand, operates under the Rental Model whereby gas fees are required in exchange for every calculation, storage operation and bandwidth utilization. Transactions fees are not fixed as they keep on fluctuating as miners are allowed to select transactions with the largest fees.

Buy & Sell Cryptocurrency Instantly

How to Buy Lisk (LSK) Coin: The Ultimate Guide

What is Lisk (LSK)?

Lisk was formed in May 2016 following a Crypto hard fork and was rebranded in February of this year. The hard fork led to a change in the database from SQLite to PostgreSQL, with Lisk also being open source with development taking place in GitHub.

Lisk is described as a decentralized application and sidechain development platform.

Lisk makes it easy for developers to build and deploy blockchain applications in JavaScript with the open source Lisk Sidechain Development Kit (SDK) offering, the ethos of Lisk being to make life easier for developers and remove confusion over what language developers need to learn in order to get into the blockchain game.

The SDK platform facilitates the development of decentralized applications (DAPPS) and creation of an independent blockchain that is linked to and secured by the Lisk blockchain.

Developers are able to build applications on their own sidechain that is linked to Lisk’s blockchain, with developers able to publish, distribute and generate income from their released apps.

In summary, developers are able to create their own white label sidechain, customize the sidechain with its own token, without having to write a single line of code, design an interface, while also providing an optimal environment to test, deploy and promote apps from the Lisk sidechain.

Developers will cover the costs associated with developing on the Lisk network and using Lisk services with LSK tokens.

How to Buy Lisk (LSK)?

There are a number of exchanges that offer Lisk at the time of writing, including Binance, Bittrex, and HiBTC, but with a limited number of pairings, currently LSK/BTC and LSK/ETH. Below is a step-by-step guide for buying Lisk with Bitcoin on Binance.

Before purchasing LSK coins, it is recommended to first set up a Lisk Nano digital wallet that can store your LSK coins after purchase. The very same wallet would then be used when looking to sell LSK coins, where the coins would be transferred from the wallet to a particular exchange for sale, or to a merchant in the event of a purchase with LSK coins should merchants accept Lisk coins in the future.

Please refer to ‘Create Lisk (LSK) Digital Wallet’ section below for the steps involved in the creation of a Lisk digital wallet.

We do not recommend that you hold your purchased LSK coins on the exchange, as exchanges have faced multiple hacks that have resulted in coin holders losing their investments, in some cases the exchanges unable to cover investor losses.

Buying Lisk (LSK) with Fiat Currencies

At present, there are no exchanges that provide an LSK/ Fiat Currency pairing to purchase LSK coins with fiat currencies, which leaves prospective buyers with the only option of buying either Bitcoin or Ethereum and transferring the coins to exchanges that cater for LSK/BTC or LSK/ ETH trade pairings, our recommendation is to purchase LSK with Bitcoin on Binance, based on trade volumes.

Buying Lisk (LSK) with Cryptocurrencies

For those looking to buy LSK coins with cryptocurrencies, you would need to find an exchange that caters for the LSK/Altcoin pairing that you are looking to buy the LSK coins with, at present the only two pairings available being with Bitcoin and Ethereum.

By market volume, Binance has the largest share of trading volume. The LSK/BTC pairing accounts for 76% of total LSK trade volume, with Binance the leading LSK/BTC exchange by 24-hour volume with 14.7% of trading volume.

On this basis, we would recommend Binance as the exchange of choice to buy LSK with the LSK/BTC pairing, the higher volumes providing the greatest LSK liquidity.

Buying Lisk (LSK) with Bitcoin

Outlined below is a step-by-step guide to buying LSK coins with Bitcoin on the Binance exchange:

For prospective LSK buyers not holding Bitcoin (or Ethereum) on an alternative exchange or in a digital wallet, LSK buyers would need to open a Binance account, purchase Bitcoin (or Ethereum) on an alternative cryptocurrency exchange and then transfer the Bitcoin’s (or Ethereum) from the wallet or exchange to the newly opened Binance account by following the following steps:

  1. Open an account on an exchange that allows the purchase of Bitcoin (or Ethereum) with fiat currencies.
  2. Go to the Binance website and go through the registration process. (Remember that is recommended to always use strong passwords and to enable the 2FA option when prompted).
  3. Withdraw your acquired Bitcoins (or Ethereum) from the alternative exchange selected and transfer them to the newly opened Binance. This can be done by selecting the funds’ tab and selecting ‘Deposit Withdrawals’ in your Binance account. In the search box, enter ‘Bitcoin’ (or Ethereum) and select ‘Deposit.’ Copy the BTC deposit address from your newly opened Binance account and paste the address into the exchange from where the Bitcoins (or Ethereum) were purchased by selecting ‘Send.’ It may take more than an hour for the transfer to be completed, depending on backlogs, but you will receive a notification once the Bitcoins (or Ethereum) have reached your newly created account.
  4. Once the notification has been received, log into your newly opened Binance account and go to the trading platform and search for LSK/BTC (or LSK/ETH) and complete the LSK coin purchase.
  5. Once acquired, you can find your newly purchased LSK coins in the ‘Deposits Withdrawals’ tab that can be located in the ‘Funds’ section. We recommend that you do not leave your LSK coins on the exchange and transfer the coins to your recently downloaded LSK compatible wallet.
  6. Select ‘Withdrawal’, enter the required details, including the wallet address and select ‘Submit’. The LSK coins will then transfer from your Binance account to your LSK Nano digital wallet and will be stored there until you wish to sell them.

For existing Bitcoin (or Ethereum) holders, you will need to open an account on Binance and follow steps 2-6 above.

Create a Lisk (LSK) Digital Wallets

Creating a Lisk digital wallet is an important first step in the purchasing of LSK coins, as it is always recommended that acquired coins are held in a private wallet and not on an exchange, where coin holders’ can be the victim of theft.

When searching for an LSK wallet, we strongly suggest that you identify appropriate wallets by viewing the LSK website and download one of the team’s recommended wallets.

Lisk Nano is the official Lisk wallet that allows you to store, send and receive Lisk coins that also connects with the Lisk network, removing the need for blockchain syncing.

To download the wallet:

  1. Go to the LSK website and go the ‘Product’ page and scroll down to Lisk Nano and download the app.
  2. Run the installation file after downloading the app, after which the Lisk Nano wallet will automatically open.
  3. Select ‘New Account’ and click ‘Next’ after reading the pop-up content.
  4. Create a passphrase with your cursor and then copy the 12-word passphrase somewhere safe and in multiple places. DO NOTE: Losing the passphrase will mean that you will lose your LSK coins.
  5. After saving your passphrase in multiple locations, click ‘Yes! It’s safe’ at which point you will be required to double check the passphrase. Enter the missing part of the passphrase and click ‘Login,’ which will open LSK Nano wallet.
  6. Once open, copy your wallet address as you will need it once you have acquired your Lisk coins with Bitcoin (or Ethereum) on Binance to transfer the LSK coins for safe keeping.

Lisk Coin Price and Market Cap

At the time of writing, Lisk (LSK) had a market capitalization of $1.25bn, with a price of $11.90 which is down from its all-time high $41.66 struck on 31st January, whilst having recovered some of the losses, LSK having hit 2018 low $6.61 on the 1st April.

Lisk’s market cap reached an all-time high of $3.925bn on 18th February.


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The Benefits of Lisk (LSK)

As blockchain continues to evolve and revamp the tech world and beyond, with developers ever keener to get into blockchain tech that will become the mainstream of tomorrow, the issue many developers facing being what language should be learned in order to begin developing decentralized blockchain applications.

The founders of Lisk have identified the need to provide developers with an easy to use the platform on existing Javascript, bringing the world of blockchain to the developed world and even to those looking to learn.

In providing the tools to develop platforms without the need to learn a new language, the evolution and speed of delivery of new concepts will only improve with Lisk’s existence, embracing blockchain and marrying it with the very developers that are needed to fully integrate blockchain technology into the everyday world.

A great advantage of using the Lisk platform is that individual sidechain applications can exchange data with the Lisk’s mainchain, allowing the sharing of minds.

While Lisk offers the opportunity for developers to create their own decentralized blockchain applications’, the fact that these are created with sidechains means that Lisk will remain scalable, with the number of platforms developed using Lisk having no impact on Lisk’s performance or security.

Making life easier for developers and the world of blockchain can only be a good thing for the future and with the Lisk team deciding to not reinvent the wheel and basing the tech on Javascript, it couldn’t be easier.

How to Buy Waves Coin: The Complete Guide

The Waves platform was established in 2016 with the primary goal of facilitating the customization of tokens, decentralizing further the concept of blockchain technology and allowing entrepreneurs to do their thing via a shared infrastructure. The infrastructure delivers a simple to use platform for anyone to access blockchain.

To put it into perspective, more than 12,000 tokens have been released on waves, with the tokens tradable on Waves DEX platform from the get-go.

Waves’ blockchain is a proof-of-stake algorithm that rewards coin holders with the commissions from transactions.

How to Buy Waves Cryptocoin?

There are a number of ways to purchase Waves, which include through the traditionally centralized cryptocurrency exchanges, through the Waves decentralized exchange (DEX) and even from the Waves client using a fiat money, cryptocurrencies or even credit card via its partnerships with 3rd parties.

Below is a step-by-step for buying Waves coins on Waves Client.

Step 1 – Create Waves Digital Wallet

As is the case with all of the other cryptocurrencies, it is always advisable to select a wallet that has been recommended by the project website, since compatibility and security levels will vary between the wallets and the developers of a particular blockchain tech will have considered certain wallets during the development phase or even developed their own, as is the case with Waves.

The first step in the process is to download Online Client (Beta) from the Waves Platform website, by going to the Waves Platform and selecting the Get Waves option at the top right of the homepage.

The first part of the process is to create an account that can be done at the ‘Get Waves’ page on the Waves Platform, by selecting Online Client (Beta).

There will be a number of pages to read through, requiring acknowledgment of liability, in the event of loss of funds or SEEDs, which lies with the owner and not with Waves Platform, together with some advice on wallet management and protection against phishers.

Once you’ve been through the pages, you will reach the Waves Platform page.

Select ‘Get Started’ in order to create a new account, where you will be prompted to first select your address avatar and then enter an 8 character password.

Once you have selected the avatar and entered and confirmed your password you will be given the option to back up now or do it later. We would recommend opting for back up now before progressing.

The backup involves the saving of a 15-word phrase that is auto-created and saved, as the next step requires you to re-enter the 15-word phrase to confirm that the phrase has been saved correctly. It is critical that the phrase is saved somewhere safe and written down and kept somewhere safe as this will be needed in case the wallet has been lost and needs to be restored. Losing the backup phrase will mean that you have lost your Waves coins and another other coin or fiat money held in the wallet.

Once you click the ‘I’ve written it down’ option, you will then be prompted to confirm the phrase.

Select the words in order of the phrase saved and click ‘Confirm’

The final step in the creation of your Waves wallet is to make some further acknowledgments and agreements.

Tick the 3 boxes and click ‘Confirm and Begin’.

Step 2 – Buy Waves Coin

Now that you have created the wallet, there are a number of ways to buy Waves coins. For those looking to purchase Wave coins on the Waves DEX, Waves coins can be purchased with either U.S Dollar, EUR, CNY and numerous cryptocurrencies, while the Waves wallet is able to hold Litecoin, Bitcoin or Ethereum, in addition to Waves coins.

First, you will need to fund your Waves account with your preferred source of funds by selecting the deposit option.

  • When looking to deposit a cryptocurrency to purchase your Waves coins, you will be given a wallet address to copy so that you can transfer the cryptocurrency from the wallet in which it is being held.
  • When depositing fiat money, you will need to go through a verification process through SEPA. Select ‘Get verified’ and enter all of the personal information requested.

Buying Waves with Bitcoin

Outlined below is a step-by-step guide to buying Waves with Bitcoin on the Waves Decentralized Exchange:

The following steps can be ignored by those who already have Bitcoin (or Ethereum or Litecoin).

  1. Purchase Bitcoin – For those who do not own Bitcoin, you will need to open an account on Binance and purchase Bitcoin.
  2. Transfer Bitcoin to your Wave Wallet – Once you have opened an account and purchased your Bitcoin, transfer your Bitcoins from the Binance exchange to your Waves wallet.
  3. Enter Purchase Amount – In the withdrawal process, in addition to the address, you will be prompted to enter the amount of Bitcoin to be transferred.
  4. Purchase Waves with Bitcoins – Once the coins have reached your Waves Wallet, you are then able to purchase Waves coins with the Bitcoins held in your Waves Wallet, directly on the Waves DEX platform.

For those looking to purchase Waves coins on another exchange, there are a number of centralized cryptocurrency exchanges that have made Waves available, Binance, YOBit.net, and EXMO.

Buy Waves with USD or Credit Card

It is possible and simple to buy Waves with U.S Dollars or by credit card, with the Waves team having incorporated the option to purchase Waves on the Waves Lite Client platform in partnership with Indacoin.

Indacoin is well-known in the Bitcoin world and has been offering credit card services to the crypto world for a number of years now.

Once purchased, the Waves coins are immediately transferred to the purchasers’ Waves wallet.

Chargeback issues are addressed, with buyers receiving a call as well as a 4-digit code to enter in order to confirm the transaction. First-time buyers will have limits imposed that are gradually raised with each transaction.

Outside of the Waves platform, certain centralized exchanges such as YoBit also allow the purchase of Waves and other cryptocurrencies with credit cards, with transactions immediate.

Buy Waves with other Cryptocurrencies

For cryptocurrency investors looking to diversify their portfolio, it is possible to buy Waves coins with other cryptocurrencies than Bitcoin, either on the Waves’ decentralized exchange or on centralized exchanges.

On the Waves’ DEX, Bitcoin, Ethereum, and Litecoin, amongst others, are accepted to purchase Waves coins and it’s simply a case of opening a Waves account (as outlined above) and transferring your desired amount of Bitcoin, Ethereum or Litecoin in order to purchase the Wave coins that would then be automatically held in the newly created Waves wallet.

When looking to purchase Waves with a cryptocurrency, it is important to ensure that you have a Waves wallet downloaded to transfer to the acquired coins to, as it is not recommended to hold the purchased coins on the centralized exchange.

Waves Digital Wallets

Digital wallets are virtual wallets that are used to hold cryptocurrencies privately and securely, as opposed to holding purchased coins in an account on the exchange that the coins were acquired on, while not losing the flexibility to send the coins held to other exchanges or wallets.

Holding purchased coins on an exchange leaves the coin holder at risk of theft, with multiple cases of theft on exchanges having been reported recently.

For Waves, the recommended digital wallet is available on the Waves Platform website and is automatically created when creating an online account, as outlined above. The wallet is not only described as easy to use but also has appropriate security levels to ensure that your coins are safe, a 15-word phrase and a password required to access the wallet.

While other wallets may exist, it would be our recommendation that alternatives are avoided, with the fact that the Waves Wallet is able to hold multi-cryptocurrencies an added advantage.


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Waves Cryptocurrency – Customized Tokens on a Blockchain Based Platform

The Waves Platform has positioned itself as the people’s blockchain, developed to allow users to store, trade, manage and issue customized digital assets securely and easily, for everyone and anyone involved in cryptocurrencies.

With Waves:

  • Projects or companies can issue their own blockchain tokens to kick-start their project or company, with crowdfunding, loyalty programs, voting and more. An additional feature is ICOHub, where the Waves community votes on projects that are looking to launch via an ICO, with the winner of the ICOHub competition receiving help from the Waves team to host and launch the ICO on the Waves Platform.
  • Developers can enjoy the benefits of high network throughput capacity, low latency and low transaction fees.
  • Traders can store assets securely in the local lite client, whilst also trading them quickly and safely on the built-in decentralized exchange (DEX)

For traders, the advantage of trading on the Waves’ decentralized exchange is that each and every transaction is recorded on the Waves blockchain.

Waves Platform – The Fastest Blockchain

The Waves protocol facilitates the processing of thousands of transactions per minute, making it the fastest blockchain in existence today and with Waves-NG, a next-generation consensus algorithm, the Waves platform has become even faster and easier to use.

Waves’ next generation consensus algorithm is an adaptation of Bitcoin NG that was developed to resolve Bitcoin’s scalability issues and implemented into the Waves blockchain in late 2017. The Bitcoin NG proposal was made by Cornell Computer Science academics Emin Gun Sirer and Ittay Eyal.

While Bitcoin NG was designed to address Bitcoin’s scalability issues, increasing network throughput to hundreds of transactions per second, Waves NG adapts the Bitcoin NG proposal to a Waves’ proof-of-stake consensus and is the first ever implementation of the protocol in a production blockchain system.

The Waves NG code was deployed in mainnet, after miners tasked with signaling whether the proposal should be activated, supported the launch

Conclusion

For Entrepreneurs the existence of a platform that facilitates the creation of tokens, without the need for coding and distribution and to streamline the ICO process is invaluable and reflected in the 12,474 tokens that have been released on the Waves platform to date, totaling a market cap of more than $1bn.

There’s certainly plenty of positive attributes to Waves, but perhaps the most appealing is the one-stop-shop offering that not only provides entrepreneurs with a launching pad, prospective Waves coin holders with a multi-cryptocurrency wallet, but also a decentralized exchange that allows instant trading of cryptocurrencies, at competitive rates, with no upper limit on transactions.

With more to come in the coming year, Waves’ current ranking of 23th, with a market cap of $396.26m doesn’t reflect it’s real-world attributes that benefit entrepreneurs, companies, developers, and traders looking to get into the blockchain game.

Monero – The Secure and Private Cryptocurrency: How to Buy XMR?

Most existing cryptocurrencies such as Bitcoin and Ethereum have transparent blockchain, meaning the transactions are openly verifiable and traceable by all and sundry. Monero, on the other hand, uses cryptography to hide sender’s and receiver’s address as well as the transacted amount. It was launched in April 2014.

This always on-privacy means every Monero’s user activity enhances the privacy of all others, unlike semi-transparent cryptocurrencies. Monero users also have a 25-word mnemonic seed at the time of their account creation. It can be written down to back up the account. The account files are also encrypted with a passphrase, to ensure that they’ll be useless if stolen.

How Do You Get Monero?

Same as any other cryptocurrency, the first step in order to put your hands ( in a digital way of course) on Monero coin is to open a digital wallet that supports Monero.

Getting a Monero wallet

If a trader wants to generate Monero wallet, he can check websites such as MyMonero which can generate a wallet within a small period of time. There are different ways to go about this. One needs to download the wallet from the website, disconnect from the internet, click the button to generate a wallet and write down the 25-word mnemonic seed. A trader can also note down the address if they wish to send money to it.

There are four things a trader may need while accessing a Monero wallet.

  1. Public Address
  2. Mnemonic seed
  3. Spend Key
  4. View Key.

The public address is an address that is visible to everybody who wishes to send Monero to a trader. Mnemonic seed and spend key are more or less the same concepts, i.e. these will grant access to a trader to his account. A view key is one that will allow a trader to only view his account balance and no other function.

Buy Monero with other Cryptocurrencies

There are different ways to buy Monero. For those that hold Bitcoin or Ethereum, the best will be to open an account at Binance and purchase your Moneros with Bitcoin or Ethereum. We recommend Binance as it has the widest selection of cryptos and altcoins.

For those who do not own Bitcoin or Ethereum and prefer to buy Monero via Binance, we recommend buying Bitcoin or Ethereum via Coinbase. Check whether the exchange operates in your location.

Buy Monero with Fiat Currencies

The other way to buy Monero would be with fiat currencies. For some investors, it will be easier as they already hold these currencies. In order to buy Monero with fiat currencies, a trader can log into exchanges such as Kraken or Exmo. In these exchanges, you can purchase Monero directly with USD.

Monero Best Exchanges

It is very easy to buy Monero if a trader knows where to go. It is essentially an upgrade on Bitcoin’s central ideologies of decentralization and secrecy. Some exchanges that provide Monero are HitBTC, Binance, and Kraken.

In the US, there are no exchanges that allow buying Monero through credit cards. A trader has the option of buying Bitcoin through credit card at exchanges like Coinbase and then logging into Changelly which will convert Bitcoin into Monero in the space of 10 minutes.

Buy Monero with Bitcoin or Ethereum via Binance

  1. Create an account on Binance
  2. Go to Deposit and select Bitcoin or Ethereum
  3. Transfer your coins to address you received
  4. Click on Funds in order to confirm the transaction
  5. Go to Exchanges and search for XMR/BTC or XMR/ETH
  6. Click on Buy XMR and Monero coins will be transferred to your Binance digital wallet

Why is Monero Better than Bitcoin?

As mentioned above, Bitcoin is completely transparent and that leads to some flaws in the network. However, there are some obvious advantages to trading in Monero over Bitcoin. Some of them are:

  • Monero’s superior mining algorithm- Monero’s mining software consumes less electricity as compared to bitcoin’s mining, which is primarily based on Application-Specific Integrated Circuit (ASIC).
  • Monero’s adaptive block size limit- As compared to bitcoin, Monero has a more flexible block limit which means a trader’s transaction can be verified within two minutes (time taken to produce a block on Monero).
  • Heightened privacy measures- Monero has plans to integrate Invisible Internet Project( ‘I2P’ ) which means, not only will a trader’s transactions remain protected, anybody snooping on the network will not be able to detect, if Monero is being used or not.
  • Superior design team- Monero has around 180 contributors which contribute to the superior quality of the development and research.

Monero CFD’s Trading

Monero is an open-source, privacy-oriented cryptocurrency. However, in this context, the topic is purely for trading in Monero. As discussed above, exchanges are one way of going about it.

Another way to trade Monero is through Contract for Differences (CFD’s). Some brokers provide you the option to trade Monero price fluctuation. Trading CFD’s does not provide you a legal possession of Monero as a coin but the opportunity to speculate the price.


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Monero Mining

Monero mining is a little more challenging as compared to other mining. The amount of effort required to mine Monero is more than other cryptos. Monero can either be mined solo or in a pool. Mining on a pool comes with a fee but it has its advantages. Users who do not have enough computer power may need to wait for a longer time to wait for a reward.

Whereas in a mining pool, users can collate their entire computer power together and have a steady flow of income.

There are also rumors that connect North Korea to a massive mining of Monero. Due to its privacy and secure qualities, governments can find this crypto as an attractive asset.

Conclusion

Currently, Monero is not as well known as Bitcoin, Ethereum, Litecoin or ripple. However, it has its own band of loyal fans who like the cryptocurrency for its stringent privacy. As great as it sounds in theory, due to this privacy, there is also a negative reputation attached to Monero. It is often claimed to be the cryptocurrency which is used for underhand activities.

Given time, hopefully, more people will see the benefits of using Monero, which will lead to increased number of users and perhaps a rise in price.

How to Buy Bitcoin with Credit Card?

Bitcoins are turning out to be the rage around the financial world over the last few months. The volatility in their prices, the returns that it can provide and the risk that it is open to and the fact that the market is open 24×7 has made it a very attractive instrument for those who know trading and for those who do not know it as well.

After starting off as an instrument that could facilitate cross-border payments, it has slowly increased its grip over the payment industry and now has control over the trading industry as well as more and more speculators join the bandwagon in buying and selling bitcoins as they view it as a vehicle to quick profits.

But it is not an easy job to lay hands on bitcoins for people in certain parts of the world as bitcoins are not physical instruments which can be purchased only at exchanges. In other words, a trader or an investor can only buy bitcoins from someone who already owns it. This transaction is best done at an exchange and not every country in the world has an exchange. In such cases, the trader has to rely on external exchanges like CoinMama and to transfer funds quickly into his wallet at that exchange, the trader is likely to prefer to use his credit cards.

Credit cards provide an easy and quick way to buy bitcoins as a lot of traders have their own credit cards already and they can use it to quickly deposit funds into their account at any domestic or international BTC exchange. Once the account is funded, they can use these funds to purchase bitcoins at the exchange and there begins their journey into the world of bitcoins.

Buy and Sell Bitcoin with Credit Cards

As of now, unlike certain other businesses and instruments, credit cards are not blocked by the major companies from being used for the purchase of bitcoins. Many credit card companies block users of many countries from investing in forex, gambling and other such industries in alignment with the laws of the country that the trader belongs to. Many countries are still in the process of evaluation of bitcoins and usage and hence very few of them have banned bitcoins outright. This has ensured that traders in most parts of the world can freely use their credit cards to buy bitcoins at the exchanges.

As described above, all that the trader needs to do is to open an account at the exchange and the exchange would give them a BTC wallet. Then they can deposit fiat currency using their credit card and fund their account and these funds can be used to buy bitcoins at the exchange. Once the bitcoin is bought and stored in their wallet, they could choose to sell it at any point of time and once this is sold, they can request for a withdrawal from the exchange which would then be able to deposit back their funds into their credit card.

there are many exchanges that provide the purchase of Bitcoin by credit card. For those who are interested in buying bitcoin and hold it for a long period of time, Coinbase can be a reliable option. Check before that the exchange operates in your location.

For those who are more interested in buying bitcoin and exchange it for other cryptos, Binance provides the widest selection of cryptocurrencies and altcoin in particular.

Many exchanges insist that the amount equal to the deposit would be deposited back into the credit card only. This will help companies to avoid being charged back by the trader. Once this is done, the rest of the funds can then be sent back to the trader in any other method that the exchanges use for withdrawal.

As can be seen, the process of buying and selling bitcoins using credit cards is pretty straightforward and this is the method that is most preferred among many traders due to its ease and speed as well.

How to Buy Bitcoin with a Credit Card Instantly?

Here, we have to mention that it is the speed of the fund transfer that makes the credit cards one of the most preferred methods of purchasing bitcoins. The bitcoin industry itself is all about speed nowadays as the joining of more and more speculators into the bitcoin trading industry has led to a lot of volatility in bitcoin prices. Hence, we have been seeing the prices jump up and down by around 10% on many days and this acts both as a boon as well as a bane as it throws open the possibility of the trader being able to make a lot of money or lose a lot of money within a short span of time.

Considering this, we would be able to understand why speed is likely to be paramount for buying and selling of bitcoins, especially for those who would like to speculate and make use of the quick and small movements that are seen in the bitcoin prices. This is the reason why such traders prefer to use their credit card as it is very easy for them to deposit and withdraw the funds using their credit cards. What’s more, it also helps them to add points based on the usage of the credit cards and hence for them, this is a double bonus as they can make profits out of the bitcoin trading and also they can make use of the extra points earned based on their credit card usage. 

Although not via bitcoin exchange, the fastest way to buy bitcoin with a credit card being via a CFD’s broker such AvaTrade. Buying bitcoin via AvaTrade does not provide you a legal possession of the coin, however, it allows you speculate on bitcoin’s price fluctuations.

Types of Credit Cards You can Buy Bitcoin with

As we had mentioned earlier in the article, the credit card companies are yet to take a very strict view of the usage of their cards for the purpose of purchasing bitcoins. One of the major reasons is the fact that most of the regulatory authorities are still only in a period of discussion and contemplation and have not yet taken any action against the bitcoin industry. So, with the legality of this industry hanging in the balance in many countries, the credit card companies have not yet had the need to ban the usage of their cards for purchasing bitcoins.

That is the reason why we are seeing the cards from various companies, including Visa and MasterCard being used by traders to purchase bitcoins at various exchanges and we believe that the card companies could continue to allow this to happen for many years to come as it is highly unlikely that there would be a total global ban on this industry anytime soon.

Credit Card Bitcoin Exchanges

The bitcoin exchanges around the world have also realized the preference of retail traders and investors for the usage of credit cards to buy bitcoins and that is the reason why we are seeing more and more bitcoin exchanges allowing traders to fund their accounts with them using their credit cards. We can see that Visa and Master cards can be used at exchanges like Binance, Coinbase and CEX.IO to buy bitcoins and this trend is only going to grow more and more as lots of retail traders begin to jump into this industry in the short and medium term.

The trader also has to choose whether he wants to take delivery of the bitcoin and hence use an exchange or whether he wants to just speculate in which case, he could do that at a broker like Avatrade which also allows the trader to use credit cards to fund their accounts with them. It would be foolish for any major bitcoin exchange not to give the choice of credit cards as a funding mechanism for its clients.

Is it safe to Purchase Bitcoin with Credit Card?

As far as the legality of purchasing bitcoins using credit card is concerned, the scenario is the same as with using wire transfer or any other payment method and hence if it is fine for a trader to use wire transfer to buy bitcoins, then it should be fine for him to use his credit card to buy bitcoins as well. But, of course, traders have to make sure that they are careful while using credit cards as bitcoin exchanges and other places where bitcoins are used and purchased are always under the eyes of various hackers. The bitcoin industry has gained a lot of attention from hackers in recent times due to the fact that it provides anonymity and is also proving to be an industry where a lot of funds are being used in an unregulated environment.

With the industry spreading and with many untrained developers also entering into the industry, it opens up the vulnerability of this industry to hackers and that is why it is important for the traders to safeguard themselves while using credit cards to buy bitcoins. It opens up the possibility that their bitcoins could be stolen along with card information and hence it is important for the traders to be aware of the same. But, as long as the traders stick to the major bitcoin exchanges, which have a good track record and have high security, it should not be a major safety issue.


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Pros and Cons of Buying Bitcoin with Credit Cards

The biggest advantage of buying bitcoins using a credit card is the speed of the entire transaction. As we had discussed before, the bitcoin market is a volatile one and in such markets, speed is paramount. It is important that the funding of the trader’s account at the exchange and the withdrawal takes place in a quick and seamless manner so that the trader can take full advantage of the price movement in bitcoin and this is facilitated by credit cards.

Traders can fund their accounts instantly using their credit cards and can continue to top up their account as long as the credit card has the right limits set. This helps to buy and sell bitcoins quickly and as said before, this also adds up the usage points in the credit card which is an added bonus as these points can then be redeemed at various outlets. Also, the fact that credit card payments can be done within the next 30 days ensures that the traders’ deposits, make profits and withdraw them and use these profits to pay back the credit card balance.

The disadvantage is the security aspect of the transaction as more and more exchanges come in and some of them are quite vulnerable to attacks from hackers. So, the trader needs to be very careful in choosing the right exchange so that his credit card information is secure. Also, if the trader is caught in a loss, it becomes very difficult for him to repay the credit card balance and the interest that is charged on this compounds the situation.

Tips on Buying Bitcoins Online with Credit Card

  1. Make sure that you only deposit that amount which you can afford to lose.
  2. Do not deposit your life savings using a credit card.
  3. Ensure that you pay off your credit card balance every month.
  4. Be careful about the exchange that you choose and ensure that it has good security.
  5. Do not give out your credit card details to any person at the exchange or if any person calls and asks for it.
  6. Ensure that you have a trading system in place before buying bitcoins.
  7. Check if your card details are stored in a secure manner and if you are not sure, you can remove the details from the exchange and add it later, when you are going to deposit again.

Conclusion

As can be seen, buying bitcoins using a credit card is one of the quickest and simplest ways of doing so. It does not need the trader to be tech savvy and at the same time, it provides a great opportunity for nimble traders to buy the bitcoins within short notice and profit from it. The fact that the card company gives you 30 days to repay your balance ensures that the traders can make a profit out of the transaction and then repay the balance and the volatility in the bitcoin market ensures that this entire trading cycle is completed within 30 days.

On the other hand, care should be taken to ensure that the trader does not get himself caught in the credit card noose and that he repays his balance promptly. As long as the trader chooses a highly secure exchange where his card information is safe, using a credit card to buy bitcoins is probably the best way.

Bitcoin Gold: A Return to Mining?

Cryptocurrencies have some confusing aspects and terms. For some people, this can start with the name itself. What is the “crypto” in cryptocurrency?  It can get more confusing from there. Looking at the bigger picture, cryptocurrencies are dependent on blockchain technology. This involves another set of new ideas and unique terms. Too often explanations are more confusing than helpful.

Fortunately, these concepts can be understood by the cryptocurrency and blockchain novice. Bitcoin Gold provides the perfect example of how all of these elements can come together and create value. A proper evaluation of Bitcoin Gold walks through the cryptocurrency world from start to finish.

What is Bitcoin Gold?

This journey starts with the idea that digital currencies can exist without centralized control. This is the brilliant concept that Bitcoin proved could work in the real world. In order to implement this idea, it was necessary to create the units of cryptocurrency through computer software. Bitcoin Gold and others pay individuals and groups to perform this task. This called mining.

Mining a cryptocurrency is nothing more than solving a math problem on a computer by running this software. The math involved in creating blocks is the “crypto” part of cryptocurrency. Those who solve the problem add that solution to the list of solutions. This is the blockchain. Those who solved the problem have the address of this block – i.e., own the cryptocurrency they created– and can transfer it to someone else.

Bitcoin ran into a problem because the type of math it used allowed certain types of computers to do the math better than other types. Because the value of Bitcoin was so high, it became financially rewarding to build this type of computer. These “ASIC” machines came to dominate mining, and so dominated the Bitcoin blockchain.

Some viewed this as centralized control of what was always intended to be de-centralized. They considered this a threat to the philosophical underpinning of blockchain that was serious enough that something had to be done about it. Their proposed solution was to change the type of math required to so that specialized computers did not have an advantage. The solution was Bitcoin Gold.

Hard Forks

Not everyone agreed that the problem was this severe or that the proposed solution was the best answer. This is not surprising since the community included those who owned machines specifically built to do the “old math” and had a financial incentive to keep things the way they were. A rift developed in the Bitcoin community over this issue.

The structure of blockchain includes a solution to this type of disagreement. The solution is called a hard fork, and it is just what it sounds like. A hard fork is a new string of transactions branching off from the previous list. The start of this new list is the change to Bitcoin Gold, and it happened on October 24, 2017. Everyone holding Bitcoin at that date received an equal amount of Bitcoin Gold to use on the new fork of the blockchain, that is, the new string of transactions.

This move was criticized at the time as a simple attempt to create new value off the “Bitcoin” brand. Keep in mind that the total number of cryptocurrency units doubled at the time of the hard fork. However, this does not mean the value double since the market value of Bitcoin Gold was not the market value of Bitcoin. In fact, if no one supported the new Bitcoin Gold cryptocurrency it would quickly become worthless.

This threatened to be the case, particularly because of criticism of how the transition was handled. Some actions by the proponents of Bitcoin Gold had at least the appearance of simple greed, including delaying the release of mining software to the cryptocurrency community. This supposedly allowed those with “insider “access the opportunity to create units of Bitcoin Gold without competition.

Eventually Bitcoin Gold achieved a stand-alone status in the cryptocurrency markets. Although the value does not rival Bitcoin, it does command a respectable market price and is actively involved in the development of new blockchain technology, including the Lightning Network.

Bitcoin Gold Mining

However, the low market price relative to Bitcoin means that specialized miners have not flocked to the creation of Bitcoin Gold. Keep in mind that any concentration would undermine the expressed purpose of creating Bitcoin Gold in the first place. This has created an opportunity for less technologically savvy individuals to participate in the creation of units of Bitcoin Gold without assembling computers specifically tailored to this purpose.

However, the value and potential value has attracted enough miners that some specialization is recommended. Remember that solving the math equation – hashing – is only one step in the process. It’s also necessary to arrive at the answer before anyone else and successfully post that solution to the blockchain. In effect, miners compete with each other in a cooperative venture.

Mining enthusiasts recommend against using a standard personal computer for this purpose. They suggest that using a high-quality graphics card significantly increases the likelihood of successful mining. Keep in mind that even if a computer is already owned and is not being used for other purposes, mining is not free. There are electrical costs. Mining Bitcoin Gold requires enough success to represent a return on this investment.

In addition to a graphics card, mining enthusiasts also recommend installing additional memory and checking the power supply for the entire system. The technical aspects of evaluating and installing any of these components are well beyond the scope of this article. However, they can be easily found on the Internet, along with the software required for mining.

For those unwilling or unable to take on the technical aspects of mining by themselves, it is possible to join a mining pool, which is a cooperative group that uses the computing power of individual machines to mine Bitcoin Gold. Each member of the group is rewarded with a percentage of the profits equal to their contribution. Mining groups can be easily found on the Internet and have a range of technical requirements.

How to Buy Bitcoin Gold (BTG)?

It is also possible to purchase Bitcoin Gold on a variety of exchanges. The market is very dynamic with new exchanges adding Bitcoin Gold. The best option for identifying an exchange is the official Bitcoin Gold website which currently lists 19 different exchanges where Bitcoin Gold is available.

The exchanges operate in a variety of locations and are not available in all countries. Some offer to exchange national fiat currencies such as US dollars for Bitcoin Gold, while others only exchange for Bitcoin or Ethereum.

Buying Bitcoin Gold with Fiat Currencies

For those who are looking to buy Bitcoin Gold with fiat currencies, not many exchanges provide this option. CEX.IO is one of the only exchanges that provide you the purchase of Bitcoin Gold with USD. If you previously own Bitcoin, all you need to do is to register in CEX.IO, confirm your account and search for BTG/USD.

Other exchanges that support Bitcoin Gold with fiat currencies include YoBit and DSX.

Another easy way to buy Bitcoin Gold is via AvaTrade which provides Contract for Differences (CFD’s) on Bitcoin Gold. The broker allows you to buy cryptocurrencies with a leverage position in a fairly simple process.

Buying Bitcoin Gold with Cryptocurrencies

For those looking to buy Bitcoin Gold with cryptocurrencies, you will need to go through an exchange that caters for the BTG/BTC or BTG/ETH pairing that you are looking to buy Bitcoin Gold coins with. Binance has the largest wide selection of cryptocurrencies, including BTG/BTC.

In the event that you don’t already have an existing account on an exchange and are not holding Bitcoins or Ethereum, open an account on Coinbase and purchase Bitcoin or Ethereum. Do note that, while there are higher transaction fees when purchasing with debit or credit card, the purchase is instantaneous.

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Bitcoin Gold Wallets

Regardless of how you plan on obtaining Bitcoin Gold, it will be necessary to hold it in a wallet. Like everything else in the cryptocurrency world, wallets are going through rapid change. Wallets that support the Bitcoin Gold blockchain are listed on the Bitcoin Gold website. Each has its own attributes and advantages.

The main distinction between wallets is between “hot” (online software wallets) and “cold” (offline hardware wallets). A cold wallet that is not plugged into the Internet is clearly more secure than a hot wallet that exists on a central server. Even wallets housed on personal computers that are connected to the Internet are vulnerable to attack.

Keep in mind that wallets are distinct from accounts on exchanges. While both can hold Bitcoin Gold or other cryptocurrency, accounts at exchanges are much more vulnerable to theft by hackers. This is simply because they represent a richer target. All cryptocurrency experts agree that Bitcoin Gold and other currencies should be stored in a private wallet –either hot or cold – and moved to an exchange only for trading.


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BTG – Holding and Trading

Bitcoin Gold is growing in popularity, as evidenced by the growing number of exchanges that offer it. However, it is also still very young, even under the standards by which cryptocurrencies are measured. These factors mean that the brief trading history might not be a good indication of the trading value. Still, there is one clear relationship that stands out.

The chart below from Coinmarketcap.com shows the price of Bitcoin Gold expressed in US dollars (Green line) and Bitcoin (Yellow line). There is a clear distinction before November 27, 2017, and afterward (seen as the point where the blue market cap line is calculated correctly).

Bitcoin Gold Chart
Bitcoin Gold Chart

Since this point in time, the price of Bitcoin Gold has been significantly more volatile when measured in US dollars than it has been when measured in Bitcoin. In fact, for most of 2018, the price of Bitcoin Gold has seen little movement when measured in Bitcoin.

This strongly suggests that the price of Bitcoin Gold moves directly with the price of Bitcoin. Anyone seeking to trade Bitcoin Gold based on volatility such as day traders will be disappointed if they hold Bitcoin as their reserve currency (assets that are held until a favorable buying opportunity is identified and after the targeted asset is sold).

There are two reasons for this. First, the movement in price going from Bitcoin to Bitcoin Gold is small (i.e., the yellow line is relatively flat). This leaves little opportunity for profitable trades. Second, volatility in the price of Bitcoin itself could potentially eliminate any profits made on trading Bitcoin Gold.

Holding Bitcoin Gold as a long-term asset instead of Bitcoin is also somewhat problematic. The chart indicates that the market does not perceive a significant difference between these two cryptocurrencies. Keep in mind that Bitcoin Gold has the same mission, vision, and values as Bitcoin. The developers simply feel that they have followed these standards more closely than Bitcoin.

In other words, as a cryptocurrency investment, Bitcoin Gold is fairly indistinguishable from Bitcoin. The most significant differences are the separate blockchain and the different mining technique. These are technical matters that may make a difference in market value in the future if Bitcoin Gold proves successful.

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Conclusions

Understanding these core value propositions is critical to understanding Bitcoin Gold and the investment opportunity it may represent. It is impossible to predict if these factors will materialize in an increasing market price, and even more difficult to determine if that price movement will be independent of Bitcoin. In this view Bitcoin Gold is a very similar investment to Bitcoin.

However, the most fundamental error that can be made is to assume that the current price differential between Bitcoin Gold and Bitcoin will close because the two are interchangeable. This assumption ignores the “first mover” advantage of Bitcoin and the fact that the Bitcoin community does not completely support Bitcoin Gold.

The technical issues that distinguish Bitcoin Gold may prove to be inconsequential in the long-run, and the market price may continue to move with Bitcoin. It is simply too early in the development cycle of Bitcoin Gold to fully judge the situation accurately. However, to the extent that Bitcoin continues to be accepted as the premier cryptocurrency, Bitcoin Gold will not be far behind.

How to Buy Bitcoin with Cash?

Bitcoin does not exist as a physical asset, but cash does. There are currently a few bridges between the electronic world of cryptocurrencies and the physical world of cash. Please keep in mind that the marketplace for Bitcoin and cryptocurrencies is changing rapidly and that additional options may be available in the future.

Buying Bitcoin with Cash Only

There is an important distinction to be made before describing the ways of buying Bitcoin for cash, and that is between physical cash and bank deposits. Physical cash is cash held in your hand. Bank deposits are often treated as cash since they can be withdrawn easily or accessed electronically. The options described here are for individuals using physical cash, not bank deposits

Individuals can have a variety of reasons for choosing to buy Bitcoin with cash, including the desire to remain anonymous. One of the primary purposes of Bitcoin is to allow untraceable transactions, and individuals valuing this feature may want to start with a “blank slate”. Others may be concerned with using any type of electronic transfer over the Internet for fear of exposing their account information to hackers.

5 Ways to Buy Bitcoin for Cash

Cash transactions have their own risks, and care needs to be exercised anytime you are carrying cash. This is of particular concern since the amount of cash necessary to purchase even a small amount of Bitcoin can be significant. The risk that comes from this reality may make some of these methods more attractive than others.

LocalBitcoins is an intermediary that allows individuals to buy (and sell) Bitcoin to other individuals. It matches people based on location and provides quotes that specify price and quantities of Bitcoins available from each seller. Individuals make their own arrangements for meetings, which increases the element of risk.

The website has acknowledged that it has listed scam transactions, and fees are generally higher than on other exchanges. However, many sellers do not require any identification at all, making this a completely untraceable transaction. The website also lists online alternatives to meeting in person.

BitQuick allows matches buyers and sellers but is functionally more like an exchange. Sellers place Bitcoin into escrow and buyers deposit the funds for the purchase in the bank account of the seller. The transaction is completed when the buyer provides evidence of this deposit.

The fact that money changes hands at a bank and the parties do not meet makes this a safer transaction. However, the website does require registration with identification and is only available in the United States (excluding New York).

WallofCoins connects buyers and sellers while acting as an intermediary. It lists sellers like LocalBitcoins, but works off bank deposits like BitQuick. This means that the most convenient banking location may not be associated with a seller who offers the lowest price.

WallofCoins prices include fees, which can make comparisons with prices on other platforms more difficult. However, it also offers a live chat feature and a toll-free number for customer service. These features make it an attractive option for first-time buyers.

LibertyX is the closest any exchange comes to a retail operation. The website directs you to an affiliated retail location based on your zip code. A mobile app is available to find locations when you are on the road. The payment and transfer take place at the retail location, increasing personal security.

However, identification is required and the service is only available in the United States. In addition, the participating locations add their own fees on top of those charged by LibertyX. Each location also sets its own minimum, and there is a $1,000 maximum platform daily limit.

MyCeliumWallet is one of several mobile applications that is available through GooglePlay to buy, store and send Bitcoin. Most of the applications include a feature that allows buyers to find sellers based on location.

These applications do not act as intermediaries like other platforms listed here. The terms of the exchange are negotiated between the buyer and the seller individually, as is the price. While this increases the potential risk, it also allows the buyer to select sellers who will provide the desired level of anonymity.

Keep in mind that the cryptocurrency market is extremely dynamic, and changes in purchase limits and operational systems are taking place continually. In addition, fees are expected to experience rapid change as a new way to buy Bitcoin for cash come into the marketplace and create competition.

Bitcoin ATM’s

There is a second method of purchasing Bitcoin for cash that does not involve meeting with the seller, either in person or through an intermediary. This is the Bitcoin ATM. These are Bitcoin kiosks that are connected to the Internet and which accept cash as the means of payment.

Please note that the use of the phrase “ATM” can be confusing, as it typically associated with a bank. Bitcoin ATMs are not stand-alone tellers and are not connected to any banking institutions. Rather, they can be thought of as computers with input devices that accept currency and transfer Bitcoin to a new or existing wallet.

Several trading platforms offer Bitcoin ATMs, and the number of locations is increasing rapidly. Although they are most prevalent in the United States, most countries offer at least one location. It is not unusual to find Bitcoin ATMs located in convenience stores and gas stations in the United States since they generate revenue for the store owner with little to no maintenance.

Operation of ATMs

Because they operate on several different platforms there is no standard procedure on how to use a Bitcoin ATM. However, each version is equipped with a touchscreen and provides step-by-step instructions. Bitcoin ATMs are clearly designed for the beginning purchaser.

The basic safety precautions that apply to using any ATM also apply to using a Bitcoin ATM. These include The amount of Bitcoin that can be purchased also varies by machine.

Some Bitcoin ATMs create a new Bitcoin wallet for each purchase, and some allow the newly purchased coins to be deposited into an existing wallet. Instructions on how to select from the available options will appear on the screen. Bitcoin ATMs that do create a new wallet either as an option or by default will then print a paper wallet for each transaction.

The paper wallet is a QR or alphanumeric code that includes both the public key and the private key. The Bitcoins are actually stored on the blockchain, and the information on the paper contains all the necessary information to access them. This is vital information and should be treated carefully.


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Key Decision Points

Evaluating all these options for buying Bitcoin with cash can seem like a complicated process, but keep in mind that not all options may be available to all buyers. Some, like Bitcoin ATMs and LibertyX, are not common in rural locations. However, for buyers who have a range of options the following decision points may be helpful.

Safety Comes First

It is reasonable to put personal safety at the top of the list of considerations when purchasing Bitcoin for cash. In general, as buying and owning cryptocurrencies might be risky, there are some methods and tips to secure your device and crypto coins. Meeting an unknown person to transact business is more concerning for some individuals than others. These concerns are highlighted by the fact that many exchanges that facilitate meeting in person stress that it is advisable to bring someone along.

Quantity

Each of the different methods of buying Bitcoin for cash has a different lower and upper limit on the amount that can be purchased. This is clearly a determining factor in choosing a platform. Like the rest of the Bitcoin market, these limits are changing quickly and should be reviewed at the appropriate website before selecting an option.

Price

References to the “price of Bitcoin” are slightly misleading. The market for Bitcoin has different prices. A review of the options for personal sales, as an example, shows Bitcoin offered at various prices. Other platforms have only a single price. The volatility of the price at the time of purchase may make one option more attractive.

Fees

Fees are difficult to evaluate because they are not always transparent. Of course, this is unfortunate since lower transaction fees are attractive. However, given the difficulty and the variation in price among platforms, the most sensible approach may be to look at the total cost of the transaction rather than the level of fees charged.

Convenience

This factor can mean both the location of and travel time to the exchange or Bitcoin ATM, but it can also mean the level of anonymity provided by the platform. Some purchasers will prefer to travel in order not to provide identification. For others the safety

Balancing these factors means that there is no “best” way to buy Bitcoin for cash. The developing market has created a range of options that, depending on location, may make it possible for most buyers to find the venue that meets their needs. As the market continues to grow, the platforms described here will continue to expand and other options may become available.

The Complete Guide to Litecoin: How to Buy LTC?

What is Litecoin?

Litecoin is often referred to as Bitcoin’s little brother. It is a peer-to-peer internet currency that enables instant near-zero cost payments to the world. The cryptocurrency, like others, is an open source global payment that is completely decentralized without any central authority. Mathematics plays an important part in securing the network and allows individuals to control their finances.

With substantial industry support, liquidity and trade volume, Litecoin is a proven medium of commerce that complements Bitcoin. What sets it apart is that the Litecoin blockchain is capable of handling higher transaction volume than bitcoin.

as of the time of writing, Litecoin seems like a worthwhile investment. Some governments have even come around to accepting it. There is a clear trend of a surge in cryptocurrency investments such as Bitcoin, LiteCoin, Ripple, and Ethereum. For instance, Russia is attempting to legitimize cryptocurrency as it would help the government to crack down on money laundering.

Why is Litecoin Better than Bitcoin?

One of the major differences that set apart Bitcoin and Litecoin is their proof of work algorithm. Bitcoin uses the SHA-256 hashing algorithm, which involves calculations that can be greatly accelerated in parallel processing. Litecoin, on the other hand, uses the script algorithm. Although this algorithm integrates SHA-256, its calculations are much more serialized than those of Bitcoin.

Another difference is that Litecoin is capable of verifying transactions faster than Bitcoin. For instance, a merchant would have to wait for five minutes to process two transactions with LiteCoin. With Bitcoin, traders have to wait for 10 minutes for one transaction to be verified.

How to Buy Litecoin via Exchanges?

Same as other popular cryptocurrencies, there are two ways to purchase Litecoin via exchanges. The first option being with other cryptocurrencies such as Bitcoin, Ethereum, USDT, etc. The second option to buy Litecoin is with fiat currencies (USD, EUR, GBP). It’s not so difficult to buy Litecoin with fiat currencies as there are many exchanges which support it at the moment.

Below is a step by step guide to buying Litecoin via exchanges:

Step 1 – Getting a Litecoin Wallet

Getting a LiteCoin wallet is the prerequisite of trading with this form of cryptocurrency. Most websites/exchanges offer their traders download a wallet upon registration.

Another way to get Litecoin wallets is by signing into litecoin.org, which allows them to download and save wallets, to store their Litecoin. Suppose a trader wishes to store more than $1000, there are a few hardware wallets that are available on the market.

Step 2 – Find Exchange that Supports Litecoin

Surprisingly, there is no dearth of Litecoin exchanges where one can trade this cryptocurrency in exchange for dollars or Bitcoins. For those who are interested to buy Litecoin via exchanges that support Litecoin purchase with fiat currencies, Exmo and Bitfinex provide this service.

For those who search for an exchange that supports Litecoin with other cryptocurrencies, Binance would be the most recommended exchange as it has a wide selection of cryptos.

In the case you prefer to buy Litecoin with cryptocurrencies, however, you do not own any cryptocurrency, then enter Coinbase, open an account, follow the instructions and you are ready to go.

Step 3 – Buy and Sell Litecoin

Now, after you opened the digital wallet and an account in one of the exchanges that support Litecoin, you can start trading Litecoin. Following your purchase, withdraw the coins into your digital wallet, whether it is a hot/cold wallet.

Litecoin Trading Through CFD’s

Litecoin is a vast open-source network and is a cryptocurrency similar to Bitcoin. However, in this context, the topic is purely for trading in Litecoin. As discussed above, exchanges are one way of going about it. Another way to trade Litecoin is through a contract for difference (CFD’s). When a trader engages in a contract with an exchange, there is an agreement drawn up between the two parties the difference in starting Litecoin price and ending price will be settled between them.

One of the brokers that provide the option to trade Litecoin is Plus500 (*76.4% of retail CFD accounts lose money, Availability subject to regulation). The broker allows you to leverage the position as well as to short (bet on a decrease in Litecoin’s value) the coin. Plus500 (*76.4% of retail CFD accounts lose money)also provide you a leverage position on Litecoin. Note that when you trade through a CFD broker you do not own any agreement or possessing the coin but speculate Litecoin’s price fluctuations.


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Litecoin Mining

There are different ways to mine Litecoin. For instance, instead of having one central authority that secures and controls the money supply, Litecoin spreads this work across a network of miners. Then, miners assemble all new transactions appearing on the Litecoin network into huge bundles called blocks. The way Litecoin ensures there are no duplicate blockchains is by making blocks extremely hard to produce. Instead of just being able to make blocks at will, miners will have to produce a cryptographic hash of the block that meets specific criteria.

These days, more people tend to rely more on mining pools as mining independently can lead to over-utilization of a lot of resources which simply does not seem like a worthy investment. Mining pools were invented to share processing power so that miners can find blocks much faster. Pool users earn shares by sharing proof of work and they are rewarded accordingly.

However, if a trader is determined to mine on his own, then Application-Specific Integrated Circuit (ASIC) devices are the best bet because they come integrated with pre-installed mining software. They also require little to no configuration.

Ther are many ways to mine Litecoin as it is currently one of the most profitable cryptocurrencies to mine. If you wish to mine Litecoin, research deeply, through articles, videos, and forums to find out the best way for you to mine Litecoin.

Litecoin ATMs

Litecoin ATMs seem to be in great demand lately. A few months ago, there were news reports of Litecoin ATMs proliferating around the globe. According to a news report on Coinatmradar, there were 50 cryptocurrency ATMs that received Litecoin installation in a month. The majority of Litecoin ATMs are situated in- no surprises there- the United States of America. Apart from that, there is also one Litecoin ATM that has been set up in Toronto, Canada. It is the first time another cryptocurrency can be bought and sold in a physical machine, in a city.

Conclusion

With Bitcoin, reaching a temporary stagnant phase, other forms of cryptocurrencies are jumping into the fray. Ethereum, Litecoin, ripple, and IOTA have reached new highs lately and opened up a new conversation as to a new alternative to the traditional money system. Litecoin as purely a form of cryptocurrency was introduced to address the gaping flaws in Bitcoin. Lately, people are also taking note of this cryptocurrency and that was part of its rising in price in 2017.

The Ultimate Guide to Buy Ethereum (ETH); All You Need to Know

Being the second most popular cryptocurrency is no mean feat especially if you are not a mere imitation of the master.

Ethereum has charted a beautiful but risky path to distinguish itself from Bitcoin and claim its place as a unique blockchain.

But how?

In this guide, we will discover all about Ethereum (ETH).

What is Ethereum?

The Buterin Story

When Bitcoin was getting all sorts of attention as a breakthrough in the scaling of digital currencies in 2011, a father brought the earth-shaking blockchain technology to the mathematical genius who was his teenage son.

Dmitry Buterin may not have known at the time, but his son, Vitalik Buterin, would evolve in a few short years to co-found and spearhead the most disruptive blockchain after Bitcoin, known as Ethereum.

At the time, Vitalik was a student and a tech blogger who was brought up in Canada.

Mihai Elisie, 23, who was working in Poland at the time, had noticed Vitalik’s unique writing in crypto blogs. He asked the young Buterin to join him in founding Bitcoin Magazine. The young lad promptly accepted and became the magazine’s chief techie writer.

Later, after conceptualizing the massive potential proposed by Satoshi’s invention, Buterin dropped out of college, contacted and started working with Dr. Gavin Wood to develop Ethereum. The Programming started in 2013 and, by January 2014, The Ethereum Blockchain was introduced to the world.

With it, Vitalik Buterin changed the Distributed Ledger technology… for the better, for good.

Definition of Ethereum

Put simply, Ethereum is a source of all sorts of open source (or free) applications that are based on the blockchain technology.

Applications enabling transactions that cannot be altered because of the immutable and decentralized nature of the blockchain is a huge addition to blockchain technology, especially when its innovation promises the immutable digitization of the world’s assets that do not directly involve money. Such applications were first made possible on the Ethereum blockchain.

Ethereum is therefore introduced as the blockchain that would ‘do for everything else what Bitcoin did for money.

The Ethereum Community

The blockchain has a very dynamic community. It consists of individuals and organizations, working together to develop and secure the network. These entities collectively assist in the realization of the Ethereum dream. They include;

  • Core developers: Vitalik Buterin leads a team of developers who are dedicated to the implementation of the wishes of the rest of the community through hard coding of agreed rules into the cryptographic algorithms that created the blockchain.
  • The miners; Though the blockchain is moving from mining to staking, miners run the nodes that confirm transactions, update the ledger and secure the platform.
  • Independent Developers; Creators of the smart contracts and the dApps, independent developers give life to the blockchain.
  • Researchers who are the technical capability of the blockchain’s fraternity to dream and bring complex ideas into context.
  • Clients: The reasons why any blockchain is formed. They make the transactions and give the blockchain life.
  • Organizations: The blockchain is funded and facilitated by organizations that use the decentralized applications.

How to Buy Ethereum (ETH) – A Step-by-Step Guide

Buying Ether is amazingly simple due to its popularity. It has three steps.

Step 1 – Get an Ethereum Wallet

Before you buy your ether, you need to either buy or install the wallet on which to store your ether.

There are various types of wallets that can hold Ethereum. For the Ethereum official wallet click here.

Ethereum Hardware wallets are the most secure way of storing Ether. The main ones are Ledger and TREZOR.

Electrum Software wallets are ideal for starters who may have little holdings or no funds to buy hardware wallets. They are free software wallets but are less secure because they are often connected to the internet and can, therefore, be hacked. The main ones are Exodus, Jaxx, and MyEtherWallet.

Step 2 – Buy Ether from the best exchanges

Many exchanges provide Ethereum (ETH). In this article, we review the processes for Coinbase and Binance.

Acquire Ethereum with Credit Card through Coinbase

Coinbase is the largest Bitcoin broker in the world. However, it also offers Ethereum, Bitcoin Cash, Litecoin.

After signing up and going through the security authentication, you can then Log in and deposit fiat currency. Finally, go to the buy/sell button to acquire your ETH.

Coinbase will keep refreshing the devices you use to access your account through email verification, even after the verification step after sign-in. This is a welcome added security feature.

Coinbase is available in 32 countries worldwide, mainly in Europe, Canada, the US, and Singapore.

Buying Ethereum (ETH) at Binance

Being a crypto-to-crypto exchange, the main way to acquire Ethereum at Binance would be to import Bitcoin (or other cryptocurrencies that you previously own) and use the funds to purchase Eth.

Enter Binance, get to the site registration page where you put in your details and password. Then log in to Binance.

You will have to go to your email to click on the verification code sent to you on email.

Binance will take you to the 2FA page, where you use the Google Authenticator on your mobile device to provide you with a constantly updating authentication code. It provides increased security.
Once in Binance, go to ‘funds’ – ‘Deposits and withdrawals’;

Scroll down and find BTC and click on the corresponding deposit button.

binance deposit and withdrawls

Import Funds and Buy Ethereum

You will be given the BTC Address on which to send your funds. Do not send any crypto to an address belonging to another.

Binance will deposit your BTC immediately after 30 confirmations.

Once you have the funds on Binance, proceed to Exchange – Basic and select the Eth pairing as follows;

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Once the pair is selected, go to the dashboard below the graph on the exchange.

Buy as much Eth as you can afford with the BTC you have on the platform.

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Step 3 – Transfer your crypto to your secure wallet

No crypto is entirely safe on an exchange or online wallet. Sending ETH to the chosen offline wallet is an important and easy step that protects your holding.

Trading Ethereum Through CFD’s 

CFD stands for Contracts for Difference. This means that you can open a trading position to speculate on the increase or decrease of an asset you don’t necessarily own, by leveraging a percentage of the price.

Plus500 (*76.4% of retail CFD accounts lose money)offers Ethereum CFD trading along with other cryptocurrencies. The broker has endeavored to be regulated in many jurisdictions, with the current ones being the Financial Conduct Authority of the UK, Cyprus Securities and Exchange Commission, and the Australian Securities and Investments Commission.

To open an account via Plus500 is a simple process and all requires is a minimum deposit of 100 USD/EUR/GBP to open an account.

Once you apply, you can deposit your funds and start trading. You get to explore on your own.

However, you cannot send your crypto to another wallet from a forex exchange; you can only cash out to fiat.

Technologies Supported by Ethereum

Ethereum Smart Contracts

A smart contract is a cryptographic computer protocol that facilitates, monitors, verifies or enforces the execution of an agreement immutably and exactly as programmed. It accomplishes this without the burden of expensive and inefficient third parties and human error.

It carries the potential of eliminating most need for lawyers, auditors, witnesses, banks, experts, governments or trustees.

With the blockchain technology, witnesses become honest nodes operating anonymously in the distributed network, across the world, executing hard-coded consensus algorithms to satisfy themselves that all the conditions for executing the agreement have been met, and hence enabling the contract to execute expected outcomes.

Introducing the technology in 1994, Nick Szabo envisioned a way of creating trackable and irreversible contract outcomes by use of a computer protocol that would be superior to pen and paper contracts.

According to him, smart contracts would;

  • facilitate mutual monitoring of both parties’ performance inside the contract,
  • Verify the successful completion of a contract, or of a condition therein.
  • guarantee selective distribution of contractual details to ensure only necessary information is passed
  • be self-enforcing and autonomously deployable to minimize human intervention.

In 2009, Satoshi provided the first successful use-case for smart contracts when he created the blockchain.

With it, he ensured the security of smart contracts’ outcomes through the decentralized Byzantine Fault Tolerant (dBFT) algorithm,  made possible by the distributed nature of the blockchain.

He made it possible to assure privity, anonymity, observability, and enforceability of smart contracts like the ones that run Bitcoin.

Soon, Vitalik Buterin posited that Ethereum would use the technology to bring any business to the blockchain.

Ethereum Decentralized Applications (dApps)

dApps, as they are commonly known, are programs that are designed to do for ‘everything’ what bitcoin did for money. They are complex smart contracts, or many smart contracts working in harmony.

We can, therefore, say that decentralized applications are computer software programs that are deployed on a blockchain to perform more complex tasks than smart contracts.

Dapps have self-incentivizing features (i.e., have resident tokens that fuel its operation) and run on the distributed ledger technology. Anything short of this is not a Dapp. It is just computer software.

What are decentralized autonomous organizations or DAOs?

Calling a DAO a company can be confusing, though it is tempting. A DAO is simply a for-profit entity that exists on a distributed network, working autonomously, and relying on hiring humans to perform certain tasks that cannot be automated.

A consensus is achieved through voting on who to employ, what to do, how to spend money, how to share profits etc.

Ethereum members created the inaugural DAO in May 2016, bullishly named ‘The DAO‘. However, it died a premature death due to a security breach in August of the same year that drained it of $50 million worth of Eth before the blockchain hard forked to stem the theft.

This was the first indication that the technology would not be deployed as easily as originally thought due to security.

Ethereum vs. Bitcoin: How is Ethereum Different than Bitcoin?

Bitcoin Recap

As he labored hard to break the age-old kleptocracy that existed in the governance of money, the pseudonymous Satoshi Nakamoto had no illusions that he was onto an explosive but necessary odyssey.

We paid him no heed when, in 2009 January, he brought the blockchain to the world.

He would often plead with fellow cryptographers to participate in bitcoin mining. By May 2010, Laszlo Hanyecz, one of the geeks, made the first ever purchase of a good with bitcoin, and the era of cryptocurrencies begun.

Since then, bitcoin has gone through it all to record one of the most incredible appreciation records of any asset in trading history.

It has suffered staff desertion (including Satoshi himself), price dumps and hard forks.

It has enjoyed price hikes, been targeted by all manner of regulators, and fought off crime abetting claims to record a high of almost $20,000 by December 2017.

And that is huge, considering that bitcoin achieved dollar parity only in February 2011.

As the gold standard of cryptocurrencies, no altcoin coin has ever surpassed it in market capitalization or unit price.

Ethereum and Bitcoin: Comparison of the Blockchains

When you look at the two blockchain use cases, the niches are stark in contrast, and this is instructive when understanding the different opportunities they hold for different interested parties.

A quick pairing of the two cryptocurrencies gives us a clear picture of the main differences as depicted below;

Feature Bitcoin Ethereum
Current Price $ 8,053.00 $ 809.00
Market Cap $ 136 Billion $ 80 Billion
Consensus Algorithm Proof of Work Proof of Stake
Current Market Dominance 35% 17%
Current Supply 16.8 Million 97 million
Total Availability 21Million Not Defined
Block Size 1 MB N/A. Uses gas limit so block sizes can vary
Block Time 10 minutes 10-20 seconds
Transaction per Second 7 15
Decentralization Achieved Achieved
Coin Creation Distributed Mining Proof of Stake
Main Feature Cash Transfer Smart Contracts and Dapps
Year of Creation 2009 2014
Price on Jan 1st, 2016 $ 434.33 $ 0.948
Price on Jan 1st, 2017 $ 1,003.08 $ 8.18
Price on Jan 1st, 2018 $ 14,112.12 $ 773

Ethereum’s main objective is to enable the creation of decentralized applications that will reshape main global markets and bring them to the trust less unassuming distributed mainstream. It, therefore, allows for other blockchains to be built on it.

Bitcoin seems primarily solves the problem of expensive and slow transfer of money, worldwide. While Bitcoin chooses a decentralized ledger


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How can you Spend/Use Ether?

Ether is mainly designed to work as the fuel that allows you to access the Ethereum Blockchain. It may not scale into a mainstream currency, but is a good bet for crypto speculators.

Being the main gateway for most ERC20 tokens which account for most of the crypto coins, Eth is a good bet for increased demand as we delve deeper into the decentralized application era, and owning it at the right time is a good thing.

This means that Eth can be used for many applications that deal with anything from gaming, entertainment, medical, and a myriad of other dApps.

ICO’s and Ethereum

Due to the decentralized applications that are possible on its blockchain, Ethereum has enabled the onset of online crowd sales for business ideas that scale to become profitable.

Ideas that would never have been funded by banks and other traditional financial institutions of yesterday.

When an idea like that is broadcast to the public, and a date for the crowd sale is announced, it is known as an initial coin offering. Or an ICO, which is a play on the more mainstream IPO.

Final Thoughts

Ethereum is easily the broadest crypto to understand. It has a very elaborate and well-structured growth curve.

When the Casper algorithm is finally established, the blockchain promises very good prospects for growth.

However, it must be said here and now that all investments in crypto are risky, and no information presented in this article should be taken as solid financial advice.

What is Binance (BNB) Coin and How to Buy it?

Before We Start

Digital cryptocurrency is a form of money that is accepted internationally does not depend on governments and central banks to cross borders. Hence, these currencies are decentralized. Currently, more people adopt this new form of money as its value is preserved, and can be an alternative to gold and to the most traditional way of fiat currencies.

If you are new to cryptocurrency, it is worth mentioning that the revolution has come a long way. While we think that the crypto trade is at its peak, we are probably mistaken since the crypto market is everblooming with new and innovative digital coins and tokens.

The virtual currencies are being introduced into the global digital market at an unprecedented rate. There is a rising interest in the digital currencies, making the trading arena to be incredibly dynamic.

What is Binance (BNB)?

Binance comes from the words “Binary” and “Finance.” It has 2 meanings.

  • It is one of the world’s leading cryptocurrency exchanges.
  • The BNB Coin is a cryptocurrency which can be used as an intermediary when exchanging money, from one crypto-coin to another.

In 2017, ChangPeng Zhao founded a Chinese company called Beijie Technology. Beijie is the holding company which runs Binance exchange. It is currently headquartered in Hong Kong. Zhao, together with the Binance team, has worked to boost the growth of the platform into one of the most successful exchanges in the world.

The Binance (BNB) Initial Coin Offering (ICO)

To fund the creation of the exchange platform, Zhao, and his team developed a token and raised funds through an Initial Coin Offering. The ICO lasted for about a month, raising some $15 million. This was enough for paying startup expenses like hiring new developers, marketing, and bolstering the security of the exchange servers.

The BNB token can be used for paying the transaction fees incurred while exchanging the digital coins. For instance, if you want to convert your Litecoins to Bitcoin, you would need to pay some transaction fee (by receiving a slightly less amount of BTC than expected).

The Binance Token was innovative. Users who bought the token and used it as a means of paying the transaction fees were rewarded with a 50% discount. Most users would take advantage of the tokens to buy more Bitcoin or other major altcoins – and got some great returns.

The excellent management of the exchange platform helped bring in millions of users. The coin exchange space was competitive, but Binance has risen to be among the top 3 on the market. Most of the days, it is the largest exchange worldwide by volume traded.

How to Buy the Binance (BNB) Coin?

There are two scenarios that we should consider if you want to buy Binance (BNB) Tokens.

  • How to buy BNB tokens in the case you already own another cryptocurrency
  • The process to follow if you do not previously own any crypto coins.

I Own Bitcoin, Ethereum or Other Altcoins. How Do I Buy BNB?

Your procedure would be simple – just exchange your coins for an equivalent value of BNB. Here is the procedure. Let’s assume you have Cardano (ADA) or Ripple (XRP).

Step 1 – Create an Account on Binance

To create an account, go to the registration page here. You need:

  • Your email address (to an email client that you can access).
  • A strong password.

You fill in the registration form and solve an easy puzzle (to verify that you are human) and voila! You are good to go. An email confirmation will be sent to you. Once you click it, you can move on to the next step.

It is important to read the verification email carefully since it gives you basic security tips (like not giving your password to anybody).

binance

The next step is to log in and get started with the account. You will need to read some more tips on handling your account.

binance - Safety Risk

Click the checkbox to the right of each tip to show that you have understood it. After ticking all of them, you can proceed.

Step 2 – Enable the 2 Factor Authentication (2FA)

The 2FA is a method of ensuring that only one person, you, accesses the account anytime. It helps to protect your account from hackers or online conmen and scammers. Binance holds funds for you and millions of users and takes security very seriously.

Fortunately, enabling 2FA is very easy as you only need to install an app on your mobile phone which will always generate a code for you when logging into the account.

If you do not wish to install an app (or if you are unable to), you can use SMS for receiving a code whenever you log in.

binanace 4

You could always skip this step for later. However, skipping it will mean you remain unverified and hence your withdrawal limit will be low.

bnb 5

Step 3 – Account Verification

Next, you might want to verify yourself if you want to withdraw coins later. Verification involves sending a timestamped picture of yourself with an identification document.

You could opt to skip this step and go directly to depositing coins.

Step 4 – Depositing Your Coins to Binance

We had started off with the assumption that you already have some Cardano (ADA) or Ripple (XRP) coins. Note that the process is similar with any other crypto coin. Let’s take Cardano as an example.

Cardano

First, go to the “Funds” tab.

bnb exchange

Type the Coin’s international symbol in the search box. In Cardano’s case, type ADA.

bnb 8

Next, click “Copy Address” and go to the wallet which has your ADA tokens. Send the coins to the address you copied from your Binance account. Please double check that you are sending ADA coins, not something else – since you could lose money if you sent a different type of coin.

After depositing it, your money might show up immediately on the exchange balance. You can check it in the “Funds” tab above.

It is available that you wait for 15 confirmations on the Cardano Blockchain explorer before making any more transactions.

Once it shows up on your balance, you can trade it for BTC, XRP or any other coin available on the exchange. In the rare case that your deposit did not reflect on the dashboard, it could mean 2 things:

  • The transaction is incomplete
  • The blockchain is congested due to high traffic.

Step 5 – Exchanging the Coins

Now that you have successfully deposited the funds, it’s time to change the coins into BNB. In the Binance trading platform, go to the “Exchange” tab and look for the pair to trade.

binanace 9

For convenience, choose “Basic” dashboard, instead of “Advanced.”

binanace 10

Choose BNB and proceed with trading. You will sell your ADA or XRP for BNB. When buying the BNB, you will use percentages to calculate how much you want of your money to be changed to BNB.

For instance, if you want all of the funds that you deposited to be converted to Binance coins, you will choose to sell 100%.

I Don’t Have any Cryptocurrency, How can I Buy Binance (BNB) Coins?

Since Binance doesn’t accept “real world” or fiat currencies like the USD or Chinese Yuan, you will need to buy some cryptocurrency first. It is recommended that you purchase the most liquid and stable currencies out there, such as:

  • Bitcoin (Bitcoin Cash or Gold)
  • Ethereum
  • Litecoin
  • Ripple

To do so, you will need to get them from a crypto exchange that is permitted in your country. For example, if you live in the USA, Australia, Singapore or Europe, you can use Coinbase. If you are located in another country, you should find a verified service that can serve you. Coinmama is one of the biggest exchanges in terms of reach.

Once you have your coins, you can head to Binance and follow the procedure outlined above.

Why Buy the Binance Coin? The BNB Qualities

Here are Some Great Reasons to Buy Binance (BNB) Coins

  • Low cost

BNB is favorable in buying other coins in place of Bitcoin because it is quite affordable. You can freely trade BNB currency on the Binance platform.

  • Supply and Demand

Supply and demand determine the growth of the value of a currency in a digital exchange. Bitcoin gained value due to its 21 million supply cap. In the same way, 99 million BNB coins are already in the market, and with its fast spreading fame, its supply decreases. This will have a good effect on the coin’s future.

  • Community trust

Binance is evidently one of the most trusted coins out there, due to its ease of operation and a high withdrawal limit of $30,000. Investors are drawing more confidence in BNB due to its minimal security issues. It was built with the robust, ERC 20 principles and its affiliation with the NEO coin has a direct impact on the growth of BNB.

  • Growth

As the Binance platform grows in value, BNB currency equally grows. It has infrastructure that is as strong as Bitcoin’s protocol.

Where to Buy and Store BNB?

BNB coins are available on the Binance Exchange and Ether Delta since it is ERC20 compliant. You can buy it from either source.

It is recommended that you do not keep the coins on any exchange platform after buying them. Immediately they hit your account. You should transfer it to a safe place – like a cold wallet. The reason for this is that exchanges are soft targets for hackers these days, and people with their coins stored on them are sitting ducks.

MyEtherWallet and Trezor Wallet are the best options available for safekeeping of the BNB coins when withdrawn from the active exchange.

The Future of BNB Token

The Binance Team has provided lots of incentives for people to adopt their tokens and use their exchange as the user default. It has used contests, rebates and more alluring methods to attract investors to use the platform.

Binance Coin Prediction

Many investors who are using BNB for trading and speculation are reaping the benefits of discounts through a healthy ROI. BNB exhibits all characteristics of a flourishing asset. Analytic simulation of the short-term returns, using Monte Carlo simulation shows more than a 50 percent likelihood that BNB will maintain healthy growth in 2018.

In addition, Binance periodical technical analysis indicates that the cryptocurrency is likely to be an excellent long-term object of investment. There is an anticipated rise in the long-term value of the crypto-coin, and a five-year price prediction for BNB is more than $31.978.

A Small Caveat

You need comprehensive historical data for making informed investment choices, as you would do in the stocks & bonds. Cryptocurrencies just like the fiat currencies are subject to economic tides and the global market volatilities.

The Last Word

The future of Binance is quite bright. As an exchange, it has ultra-fast speed. In fact, the technology underlying Binance is also powering more than 30 exchanges in Asia. The people running this company are very competent and have several hundreds of years of experience in finance between them. Its future outlook certainly seems to be bright.

As for the coin, it is something worth adding to your portfolio. The coins are quite compelling and when watched closely, can give nice returns. Just be sure not to invest more than you are comfortable with investing and “hodling”.

How to Buy Verge (XVG): The Ultimate Guide

How to Buy Verge (XVG)? – A Step-by-Step Guide

The first step in the process of buying Verge is to set up a Verge wallet that can store your Verge (XVG) coins following the purchase. The wallet will also be used when looking to sell XVG coins, where the coins need to be transferred to the exchange for sale, or to a merchant in the event of a purchase.

Step 1 – Create Verge (XVG) Digital Wallet

When deciding on a wallet, as with all other cryptocurrencies, it is advised to choose a wallet that has been recommended by the cryptocurrency’s website.

On the Verge website a number of wallets have been recommended, catering for MAC, Windows and Linux users as well as for OSX and Android mobile phones.

In addition to the preferred tab, which has a number of wallets to choose from, there are also individual tabs that separate wallets by desktop, mobile and other, though we would recommend downloading from the preferred tab for obvious reasons.

Verge has also provided the option to download Verge blockchain in order to speed up the process of setting up for holding XVG coins if an Electrum wallet is not chosen. The fact that additional steps are required in case an Electrum wallet is not used, suggests that an Electrum wallet is the best option, the only downside being that Electrum wallets are currently incompatible with android phones.

Once the wallet has been downloaded to your desktop, unzip the file and run the executable, in the Electrum Wizard, select ‘Create New Wallet’ and ‘Standard Wallet’ assuming that you are not looking for a wallet that requires multi-user and significantly higher security characteristics.

At this point, you will receive a ‘seed’ for the wallet, which needs to be stored and backed up somewhere safe as this is needed to restore your wallet in event of a loss of the wallet.

The next step in the wallet process is to enter a password, that is also particularly important and if you forget it, will result in the loss of your coins.

Once the wallet is open, select the receive tab and copy the receiving address to a file for safekeeping, as you will need this address when buying your XVG coins.

Step 2 – Buy Verge (XVG) Coin

With the wallet now created, there are two ways in which you can buy the XVG coins. One option would be to buy Verge (XVG) with fiat currencies, with the second option being to buy with another cryptocurrency.

Buying Verge (XVG) with Fiat Currencies

While not many exchanges cater for the purchase of Verge (XVG) with fiat currencies, HitBTC does provide for an XVG/USD pairing for those looking to purchase with fiat currencies.

Buying Verge (XVG) with Cryptocurrencies

For those looking to buy Verge with cryptocurrencies, you will need to go through an exchange that caters for the XVG/Altcoin pairing that you are looking to buy the Verge coins with. By volume, Binance has the largest market share, with Binance’s XVG/BTC accounting for just over 44% of total Verge trading volumes. On this basis, we would, therefore, recommend Binance as the preferred exchange for Verge and the XVG/BTC pairing.

Below is a Step-by-Step guide to buying Verge (XVG) with other cryptocurrencies:

  1. In the event that you don’t already have an existing account on an exchange and are not holding Bitcoins or Ethereum, open an account on Coinbase and purchase Bitcoin or Ethereum. Do note that, while there are higher transaction fees when purchasing with debit or credit card, the purchase is instantaneous.
  2. After purchasing your Bitcoin from one of the above exchanges, sign into Binance and open an account. (Remember to always use strong passwords and also enable the 2FA option when prompted).
  3. Withdraw your BTC from the chosen exchange and transfer them to the newly opened Binance. This can be achieved by selecting the funds’ tab and choose “Deposits Withdrawals.” In the search box, type ‘Bitcoin’ or Ethereum that will provide a list of wallets for Bitcoin or Ethereum and select ‘Deposit.’ Copy the BTC deposit address from the newly created Binance account and paste it into the exchange from where the Bitcoins are to be withdrawn, by selecting ‘Send’. The transfer can take up to an hour depending upon backlogs and Binance will send you an update once your Binance wallet receives the Bitcoins.
  4. Upon notification, go to the Binance trading platform and search for XVG/BTC and complete the XVG purchase with your Bitcoins.
  5. Once purchased, you can locate your newly purchased XVG coins in the Deposits ‘Withdrawals’ tab located in the ‘Funds’ section. We would recommend not leaving your XVG coins on the exchange and transfer them to your recently downloaded Verge Electrum wallet. Select ‘Withdrawal’, enter the details and select submit. Remember that you had already saved your Verge Electrum wallet address safely. The XVG coins will then transfer from Binance to your Verge Electrum wallet and will remain there until you wish to sell them.

What is Verge?

Verge Currency is a decentralized currency based on an open-source platform, with no central control over the coin, founded in 2014 under the name DogeCoinDark. In 2016, it was rebranded to Verge Currency.

Verge is a 100% open-source software, with development and marketing efforts supported by thousands of its community members and is not a private company funded through an ICO or pre-mining.

Verge is a cryptocurrency that has been designed for everyday use. Verge originated directly from Bitcoin, with the Verge team making a number of improvements to the original blockchain technology so that it can achieve its goal of providing individuals and businesses with a fast, efficient and decentralized way of making direct transactions while ensuring personal privacy.

Compared with Bitcoin’s 10-minute block-times, Verge has up to a 30-second block-time capable of supporting up to 100 transactions per second, significantly greater than the 7 transactions per second with Bitcoin.

Additionally, while Bitcoin miners can only use the advanced ASICS hardware, Verge miners are able to mine on CPUs, while also being able to mine on some GPUs and ASICs hardware, with Verge’s proof-of-work algorithms bringing mining to the entire mining community.

The Verge Mission is to empower people around the world by bringing blockchain transactions into everyday life.

With Verge currency, businesses and individuals have flexible options for sending and receiving payments at the flick of a switch, with tools on offer that are capable of handling both large and small transactions between merchants and private payments.

Verge Features

Verge’s blockchain protocol uses proof-of-work algorithms, with verification carried out by decentralized nodes in Verge’s multiple anonymity-centric networks such as TOR and I2P. Within Verge’s network, each node connects to the network over TOR (The Onion Router).

Tor is a global network of servers that allows users to browse the internet anonymously. When browsing the internet over TOR, each search is bounced across a number of servers, which obfuscate the IP address of the user, ensuring that transactions with Verge’s blockchain tech are completely untraceable.

With significantly faster transaction times and capable of handling a vastly higher number of transactions per second, not to mention the increased privacy, the Verge platform is ready for mass adoption.

Verge’s Tor Android Wallet offers mobile anonymity that is a unique feature among the privacy-orientated.

The maximum supply of Verge Currency is capped at 16.5bn XVG. The total supply is on the higher side to facilitate convenient payment amounts for everyday use, while also making it harder to control a large portion of the total supply.

Because there was no ICO or pre-mine, the Verge team do not hold a significant amount of XVG coins that can affect coin distribution or total circulation.

While the privacy offering is already significant, the Verge team is currently working on its Wraith Protocol that is expected to materially enhance the privacy attributes, by allowing for the user to opt for transactions to be either public or private. Enabling the Wraith Protocol in a Verge Wallet would generate an address that cannot be traced back to the user’s Verge address.

The Verge team has also been working on introducing Smart Contracts with RSK technology that is also expected to lead to transaction capacity to surge to 2,000 transactions per second.

Features that are particular to Verge can, therefore, be summarised as:

  • Proof-of-work algorithm working best with CPUs and some GPU and ASICs hardware, leveling the playing field for miners.
  • Particularly fast transaction times of between 5 and 10 seconds depending upon the load of the network.
  • A Sizeable transaction capacity, which is projected to hit 2,000 transactions per second on the rollout of RSK.
  • Enhanced privacy offering, with the next milestone being the release of Wraith Protocol that gives the user the option to transact publicly or privately.

Verge Best Digital Wallets

Digital wallets are virtual wallets that allow coin holders to hold their cryptocurrencies away from the exchange from which they were purchased, with coin holders also able to send and receive cryptocurrencies from the wallet to exchanges or merchants.

It is possible for a coin holder to store coins on an exchange, but it is not advisable, with coins at risk of cyber-theft from hackers.

In the case of Verge, there are two types of wallets that XVG coin holders can use: QT and/or Electrum, as indicated by the team. The team also recommends that an Electrum wallet is used for everyday users.

Electrum is described as an open-source Bitcoin lite wallet solution. A Verge Electrum wallet, which was hard forked from the Electrum wallet, focuses on speed and low resource usage. Simple Payment Verification (SPV) technology is used that verifies transactions on the Verge blockchain without needing to download the entire blockchain.

As highlighted earlier, other digital wallets recommended by the Verge team require the entire blockchain to be downloaded.

The SPV technology speeds up transaction times from 30 seconds to around 5 seconds.

The alternative QT wallet requires the entire Verge blockchain to be downloaded and the device on which the wallet is stored will need to have enough storage capacity to not only handle the 1GB blockchain, but its growth as more transactions are made.

An added incentive to go with the Verge Electrum Wallet is that no back up is needed, only retaining the 9-word ‘seedphrase’ in a secure place is sufficient and preferably in hard copy so that it cannot be stolen by hackers.


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Verge Exchanges

There are a number of exchanges that support Verge XVG, with the largest by volume of trade being Binance with Bittrex coming in second. Combined, the two accounted for more than 80% of total XVG transactions over the last 24-hours.

By currency, the largest trading was with Bitcoin, followed by Ethereum and then USDT.

Other exchanges include HitBTC; CoinSwitch and Cryptopia.

Why can Verge be a top Leading Cryptocurrency?

For cryptocurrency investors, anonymity remains a major concern, as the markets remain sensitive to regulations and bans news.

Regulators and governments have already established ways to link Bitcoin users to their wallet addresses, which allows governments and regulators to track individual transactions.

Verge has taken Bitcoin’s blockchain technology and made improvements to its privacy characteristics, by incorporating Tor and i2P networks that maintain the anonymity of Verge users, easing the concerns that Bitcoin holders continue to face.

With significantly faster transaction times and transaction times that are impressive, to say the least, the future looks bright for Verge.

The Verge team has already made ground, with a number of vendors accepting Verge Currency and with the far superior transaction times, Verge will likely see the list grow in the coming months and become a real threat to Bitcoin in particular.

One uncertainty will be the issue of anonymity and whether governments will permit the continued use of anonymous buying of cryptocurrencies from exchanges and what this could mean for Verge and its privacy protocols.

The good news for Verge investors is that the Wraith Protocol should address this, with privacy settings in the control of the coin holder, allowing for Verge to be bought and sold in South Korea once the ban is imposed.

How to Buy ZEC: The Full Guide to Zcash

How to Buy Zcash (ZEC) – A Beginners Guide

The first step in the Zcash journey for investors will be deciding upon which wallet to use to store the Zcash coins. Investors have the choice of downloading the official Zcash client wallet or selecting one of the 3rd party wallets available.

Step 1 – Create a Zcash Wallet

The official Zcash client wallet was initially developed for Linux, with the wallet now also compatible with Windows and MacOSX thanks to the Zcash community. Therefore, we recommend this wallet as it is compatible with Zcash features.

Third party wallets are few and far between, with most wallet providers unable to cater for the privacy component of the Zcash protocol.

As is the case with other cryptocurrencies, hot and cold wallets are available, which comprise of internet wallets, hardware wallets, local wallets and exchange wallets.

Internet Wallets: Internet wallets can be downloaded for desktops and mobile phones and it’s important to use particularly strong passwords and it is also encouraged to enable 2-factor authentication where possible.

Web-based wallets that are compatible with Zcash Transparent addresses include:

Coinspot; Jaxx; Freewallet; waterhole.io; coinBR.net; HolyTransaction; Bitpie and Coinomi.

For those looking for the greatest degree of anonymity, Jaxx; ZCash Swing GUI Wallet, Agama, and ZCash Cockpit UI Wallet are recommended, while Coinomi caters for the greatest variety of cryptocurrencies.

Hardware Wallets: Hardware wallets are considered to be the safest way to store Zcash coins, though at present they only support Zcash transparent addresses and are on the expensive side, which some will consider acceptable when considering its recovery capabilities in event of coin loss.

Hardware wallets include TREZOR and Ledger.

Local Wallets: While local wallets are considered to be on the more technical side for use, they support Zcash’s private addresses and have been developed by Zcash and the Zcash community. It is important to frequently backup the wallet

Finally, exchange wallets are also available, though none support Zcash privacy characteristics and should also be the choice of last resort, particularly when considering the issues faced with exchange wallets and the risk of being hacked.

Step 2 – Buy Zcash (ZEC)

Once the wallet has been created, there are two ways in which ZEC coins can be purchased. The first option to buy Zcash (ZEC) would be with fiat currencies, the second option is obviously with Bitcoin or Ethereum.

Buying Zcash with Fiat Currencies

In the case a trader is not holding Bitcoin or Ethereum and wishes to buy Zcash with fiat currencies, there are some exchanges that provide the option to buy Zcash with USD or EUR.

HitBTC allows a trader to purchase Zcash (ZEC) with fiat currencies. Another exchange that provides Zcash with USD is CEX.IO.

Buying Zcash with Bitcoin or Ethereum

The other option to buy Zcash ( ZEC) is with Bitcoin or Ethereum. If you already hold Bitcoin or Ethereum, you can move forward to the next step.

There are many exchanges that provide Bitcoin or Ethereum for fiat currencies. Coinbase is a popular exchange that allows traders to purchase Bitcoin or Ethereum with US dollar.

After using the link to go to Coinbase, select “Sign up” and enter your personal information. Coinbase treats client identification very seriously, so be sure to verify your account by supplying a phone number, uploading an image of your photo ID and verifying a credit/debit card or bank account.

After completing these steps, select “Buy/Sell” at the top menu.  Select “Bitcoin” and enter either the number of coins or the amount you want to spend. Bitcoin can be purchased in fractional units and the system will do the math for set amounts of local currency. Verify the information you have entered and “Buy”, and then “Confirm buy.”

If you are located in a country that Coinbase services are not available, you can purchase Bitcoin in other exchanges such as CEX.IO or Coinmama.

Step 3 – Exchange Bitcoin or Ethereum for Zcash (ZEC)

Now go to an exchange such as Binance or HitBTC to exchange your Ethereum or Bitcoin for ZEC.

First, enter the exchange and open an account, verify the account in the email you received. Then, you need to fund your account with BTC or ETH that you have purchased before at one of the exchanges above. In order to do that, click the “Funds” tab and search for BTC or ETH, choose “deposit”, copy the BTC or ETH deposit address and paste it to the exchange that you withdraw the money from. The process might take up to one hour (vary according to different exchanges).

Now, after completing these steps, you have Bitcoin or Ethereum in your HitBTC or Binance account. Click the “exchanges” and search for ZEC/BTC or ZEC/ETH, enter the amount and click “Buy ZEC”.


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What is Zcash?

Zcash utilizes cryptography to deliver a significantly greater degree of privacy than its peers, with the evolution of Zcash starting from Zerocoin protocol that had been code adjusted into Zerocash before the ultimate release of Zcash in 2016.

While Zcash payments are published on a public blockchain, the sender, recipient and amount of a transaction are kept private. The privacy functionality on the blockchain is an optional one, where the user has the choice of taking the privacy option.

ZCash is based on peer-reviewed cryptographic research, built by a security-specialized engineering team on an open source platform that is based on Bitcoin Core’s codebase. Privacy is considered to be the key enhancement over Bitcoin, with zero-knowledge proof cryptographic techniques being used to guarantee the validity of transactions, whilst maintaining privacy.

Zcash Technology

ZCash encrypts the contents of transactions that have been selected to remain private and, because payment information is also encrypted, the protocol uses cryptography to verify the validity of transactions.

In the case of Zcash, a zero-knowledge proof construction called zk-SNARK is used that was developed by the Zcash team. The construction enables the network to maintain a secure ledger of balances without disclosing the parties or amounts involved, with the zk-SNARK protocol proving that there is no fraud or theft.

The basic concept is not too dissimilar to Bitcoin, where Zcash facilitates public payments, the only difference being that Zcash payments remitted from a transparent address to a shielded one protect the remittance amount. The option is also available from shielded to transparent, where the remittance amount is unprotected and from transparent to transparent addresses that will have information fully disclosed.

As at the end of 2017, only 4% of Zcash coins fell within the shielded segment, though the number is expected to increase as a greater number of wallets are developed to support Zcash coins.

As is the case with the likes of Bitcoin, Zcash has a fixed total supply of 21 million coins. Within the first 4-years, 20% of the coins generated will be distributed to investors, developers and a non-profit foundation.

Zcash went live in October 2016 and currently sits at $750, following a 149% rally since 1st December 2017, with Zcash having rallied 965% in the calendar year 2017.

How to Trade Zcash with CFD’s?

For those looking to trade Zcash, another method to gain from Zcash volatility is through CFDs.

A CFD is an instrument that closely tracks the movements of an underlying asset, in this case, Zcash, with traders using CFDs never actually owning the asset, but instead establishing a contract with a broker.

Leading brokers that offer a Zcash CFD trading platform includes IQoptions, which has a presence in 183 geographies, has monthly trading volumes of close to $11bn and accepts debit and credit card payments.

For traders looking for higher frequency trading of Zcash, there are many benefits of trading with CFDs that include:

  • The ability to go either long or short to take advantage of the dips as well as the rallies.
  • Trade across a wider range of pairings to take advantage of the volatility seen on both sides of the trade pairs.
  • Take advantage of margin financing platforms that limit initial capital outlays, whilst taking on leverage to enhance returns.

For traders looking to increase exposure to the volatility that persists across the cryptocurrencies, some caution is needed with the inclusion of stop-loss limits advisable to avoid significant losses, particularly when leverage is included that could result in losses that may exceed initial investment sizes. Leverage on offer can be as great as 50x, with traders required to fund margin calls in the event of trades going the wrong way.

Zcash Futures

In addition to trading CFDs, Zcash futures trading is also an option available to traders, offering Zcash futures in BitMEX.

CFDs and futures contracts are both geared derivative contracts, the key difference being that a futures contract is an agreement to buy or sell the asset at a set price on a specific date in the future.

CFDs have no set future price or date and behave more closely with holding the actual asset from a trading perspective, with the buy or sell price not reflective of market sentiment towards the asset class on the settlement date, as is the case with futures contracts.

That said, interest charged on leverage in a CFD trade is daily, while baked into the asset price in a futures contract. From a traders’ perspective, CFDs do tend to be the preferred choice, with CFDs considered to have greater flexibility.

The Unique Mining Model of Zcash

Mining provides an alternative source of Zcash coins, which is an option for those willing to provide support to the Zcash network from home and interested in building a mining rig.

While it has been possible to mine for Zcash using computer processors (CPUs), there have been significant advancements in both hardware and software, which has left CPU miners with very low returns, as miners with computers built with one or several graphics cards (GPUs) taking over much of the hashrates.

The good news for miners with GPU mining equipment is that they will also be able to mine for other cryptocurrencies including Ethereum, but not Bitcoin that has progressed to ASICs mining rigs.

Once a miner has selected the GPU hardware to build the GPU rig, the next step is to select the most appropriate software.

While the Zcash team have developed software to support mining with CPU rigs, miners will need to look elsewhere for software that supports GPU mining rigs.

GPU software for mining includes, but are not limited to Optimizer, Claymore, NEHQ and Nicehash EQM, with some research needed to understand the best software – GPU hard combinations.

Once the hardware-software combination has been decided, assuming that the miner is not looking to build a mining warehouse, a mining pool will need to be chosen.

Mining pools provide individual miners an opportunity to link up with other smaller miners and then share the rewards based on individual hashrate contributions.

The downside to joining a mining pool include fees charged by the pool, which not only cover server costs but also fund the pool organizers who are looking to make a profit. It’s strongly advised for those looking to join a mining pool that they identify a reputable pool that is known for its honesty and does not have any reputational issues stemming from previous members of the pool not receiving fees earned.

Zcash mining pools include, but are not limited to Zcash4U; MININGSPEED; Coinotron; Dwarfpool; MinerGate and Zpool.guru amongst others.

Key details for interested miners include:

  • The total number of Zcash coins is limited to 21 million. The Zcash team are unable to estimate how long it will take for the 21 million coins to be mined, with technological advancements and the increased difficulty in the verification process an unknown.
  • For Zcash, the Proof-of-work algorithm is Equihash, which is resistant to specialized mining hardware such as ASICS that are used to mine Bitcoin.
  • Block Rewards: A total of 50 Zcash coins will be issued every 10 minutes, with 10% of coins mined being distributed to the Founders Reward.
  • Block Reward Halving: The Block Reward will halve every 4-years, as is the case with Bitcoin.
  • Founders Reward: The Founders Reward was established to fund the developers for building Zcash and to meet ongoing development costs. For the first 4-years, miners will receive 80% of the block rewards, with 20% going to the Zcash team. After the first 4-years, 100% of block rewards will then go to the miners, with miners receiving 100% of transaction fees from launch.

The Benefits and Risks of Zcash

While ZCash and its ability to provide a private transaction environment have been an attractive proposition for investors, the cryptomarket is changing and more and more exchanges are calling for disclosure of identification.

Much of this has stemmed from regulatory pressure, with governments and central banks imposing rules on exchanges relating to money laundering and “know your customer,” with exchanges being threatened with closure if they fail to meet the ever-changing regulatory landscape.

Other concerns over the near-term include the fact that many wallets that support Zcash do not cater for the privacy component of Zcash’s blockchain, which is certainly a negative for Zcash and acceptance of its cryptocurrency has an alternative to Bitcoin. Added to this is the fact that vendors are also keen to know with whom they are dealing, the anonymity raising some concerns.

On the upside, however, is the fact that the cryptomarket landscape is ever changing. The security strength supports the view that Zcash can survive and break through current barriers, though it may take some time.

As with any cryptocurrency, success will ultimately come down to whether there are prospects of the currency being accepted in the mainstream. For now, the list is small and how that list grows will be key to Zcash’s success.

How to Buy QTUM: The Ultimate Guide

QTUM: Best of the Best

There is a memorable scene in the classic 1966 western The Good, the Bad and the Ugly in which the character Tuco assembles a revolver from parts of the best guns available. Anyone who wants to understand QTUM (pronounced “quantum”) should keep this scene in mind. The team at QTUM is taking the same approach to building what they hope to be the definitive blockchain for business applications.

However, just as a gunsmith has a better understanding of what Tuco is doing than the average moviegoer, evaluating the approach QTUM has adopted requires an understanding of the parts they are putting together. This involves some complicated concepts, such as traditional Byzantine fault tolerance research, but the learning curve is not so steep that it is insurmountable.

How to Buy QTUM?

To buy QTUM it will be necessary to establish a QTUM wallet that will hold the cryptocurrency, and to create an account at a cryptocurrency exchange. Once these two accounts are established, the basic process is to buy or transfer Bitcoin or Ethereum (preferably ETH as it decreases the time of transfer and the cost of fees) to the exchange, exchange the Bitcoin or Ethereum for QTUM, and then transfer the QTUM cryptocurrency back to the new wallet.

Step 1 – Create a QTUM Wallet

Download the wallet by selecting the type of wallet that works on your computer (Linux, Windows or Mac) under the section labeled “Quickstart”. There is an extensive line of wallets, and some computer proficiency is necessary to select one. This poor interface is a characteristic of QTUM and one of the problems management needs to solve.

After the download is complete, unzip the file and find the folder named “Bin”.  In this folder is a file named “qtum-qt”. Open this file to install the wallet. It will need internet access and will pop up a box on the status of the download and installation.

Once the download is complete choose “Settings” and “Encrypt Wallet”. Choose a difficult but memorable passphrase. Press “OK” and read the warning that appears, and then press “Yes”. The program will encrypt your wallet and close.

Reopen your wallet and select “File” and “Backup Wallet”. Give the file a memorable name, and save it onto a secure device like a USB or cryptocurrency stick.  After saving a copy, select “Receive” and “Request Payment”. Copy down the long list of letters and numbers correctly.

Step 2 – Purchase Bitcoin or Ethereum

You now need to buy some Bitcoin/Ethereum to exchange for QTUM. At the time of this writing, no exchange supports buying QTUM for national fiat currency, but the market is extremely fluid, and this may have changed. If so, it will still be necessary to establish an account at that exchange.

There are many exchanges that allow the purchase of Bitcoin/Ethereum for national currencies. They offer a variety of features, including ease of use and security. In addition, the cost of purchasing Bitcoin/Ethereum changes frequently, so it is impossible to identify a “best” option for this step. Coinbase is a popular option, and this guide will describe the process of creating an account to purchase Bitcoin. If you already own Bitcoin or Ethereum, this step is unnecessary. You can move forward to the next section.

After using the link to go to Coinbase, select “Sign up” and enter your personal information. Coinbase treats client identification very seriously, so be sure to verify your account by supplying a phone number, uploading an image of your photo ID and verifying a credit/debit card or bank account.

After completing these steps, select “Buy/Sell” at the top menu.  Select “Bitcoin” and enter either the number of coins or the amount you want to spend.  Bitcoin can be purchased in fractional units and the system will do the math for set amounts of local currency.  Verify the information you have entered and “Buy”, and then “Confirm buy.”

If you are located in a country that Coinbase services are not available, you can purchase Bitcoin in other exchanges such as CEX.IO or Coinmama.

Step 3 – Exchange Bitcoin for QTUM

Now go to an exchange such as Binance to exchange your Bitcoin for QTUM.

First, enter Binance and open an account, verify the account in the email you received. Then, you need to fund your account with BTC or ETH that you have purchased before at one of the exchanges above. In order to do that, click the “Funds” tab and search for BTC or ETH, choose “deposit”, copy the BTC or ETH deposit address and paste it to the exchange that you withdraw the money from. The process might take up to one hour (vary according to different exchanges).

Now, after completing these steps, you have Bitcoin or Ethereum in your Binance account. Click the “exchanges” and search for QTUM/BTC, enter the amount and click “Buy QTUM”.

 


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Blockchain Basics

It helps to start with the basics because everything that QTUM hopes to accomplish address core issues of blockchain technology. Blockchain stores information on identical copies of a ledger stored on different computers that are connected through the Internet. Sophisticated systems check each new entry against the existing copies to make sure the new entry is correct before adding it to the chain.

There are two basic methods to check the existing copies. They are called Proof of Work (PoW) and Proof of Stake (PoS). Each has its advantages and shortcomings.  PoW was used initially because it allows anyone with a computer to participate in the blockchain. One problem with PoW is that it requires a significant amount of electricity to run the blockchain because powerful computers have to do complicated math.

Proof of Stake (PoS) overcomes this by allowing anyone with a financial stake in the accuracy of the calculation – commonly called ‘skin in the game’ – to participate in the verification process. This avoids the complicated math, but effectively allows participants to “buy votes.” A blockchain participant who has more money committed to the system has more votes in the verification process.  This is fundamentally undemocratic and a problem for some blockchain advocates.

Because blockchain was initially envisioned as a way to move away from centralized control of the monetary system, PoW was used as the method of choosing those who would be allowed to validate the blockchain. Bitcoin and Ethereum use PoW, but the energy demands and other drawbacks make this approach difficult to continue.

QTUM – Choices, Choices, and More Choices

QTUM takes a very practical view of these matters. Their goal is to bring the potential financial benefits of blockchain technology into the real world of operating businesses. So, in deciding between PoW and PoS, they simply asked their target users – business owners and operators – which they preferred.  The clear answer was the PoS approach.

Ethereum has made this same transition with the introduction of the Casper protocol. QTUM obviously believes that this is the right choice, but feels that the Ethereum blockchain still has fundamental disadvantages to the Bitcoin blockchain. However, the management team feels that certain features of Ethereum smart contracts are vastly superior to those available on the Bitcoin blockchain.

So, like the character in the movie, QTUM’s solution is to fit together the parts they like from each of the two blockchains. However, unlike the parts of different guns, parts of these two blockchains do not fit together at all. In fact, the Bitcoin and Ethereum blockchains use two different methods of actually processing a transaction. Bitcoin uses a complex methodology called unspent transaction outputs (“UTXOs”), while Ethereum uses the simple concept of account balances.

Like PoW and PoS, there are both practical and philosophical differences between these approaches. Each has its benefits and each has its shortcomings.  The simple fact is that the two approaches are not compatible. The situation can be compared to a gasoline and a diesel engine. You cannot expect one type of engine to run on the other type of fuel.

Rather than the start of scratch with a new blockchain environment – an approach some competitors have taken – QTUM set out to engineer a solution. They have built a bridge called Account Abstraction Layer which exists on the Bitcoin blockchain but which operates in the Ethereum environment. This innovative solution is one of the core value propositions of QTUM. If it works and is accepted in the marketplace it will prove to be a key element in QTUM’s success.

Quantum Coin – Built for Business

QTUM’s success will be determined by business users. While there has been a great deal of analysis and speculation on the value of blockchain for business, the actual applications are few and far between. QTUM looks to change that by making blockchain accessible. This is why they met with operating businesses to decide the PoW / PoS issue.

However, meeting the needs of the business community is a tall order, particularly when the goal is to develop a broad-based platform rather than something tailored for a particular need or industry like Ripple. One of the problems that have to be addressed is the amount of information stored on existing systems.

This problem can’t be overstated. Computer programmers have a joke that asks how God could create the universe in 6 days. The answer is that “He started from scratch and did not have to deal with an existing user base.” The ubiquitous use of the “QWERTY” keyboard in spite of its obsolesce is a great example of this problem.

QTUM is addressing this problem with another software bridge. In this case, it is between the smart contracts and existing legacy data systems. The team refers to these as “oracles”. They can be considered a type of Application Programming Interface (API) which provides the business with the tools needed to customize their own connection to existing data systems.

QTUM oracles are intended to power the smart contracts built in the Ethereum environment. Smart contracts are self-executing arrangements, and any degree of automation that can be applied to them will undoubtedly provide significant cost savings and gain market acceptance. It is fair to say that this is one of the most potentially lucrative aspects of blockchain technology for businesses.

It makes sense to think of oracles as putting together parts of two different guns – data from old systems feeding into smart contracts on the blockchain. The same is true for QTUM’s focus on building out blockchain use for mobile devices.  Business has incorporated the use of smartphones into Standard Operating Procedure (SOP) and QTUM is very focused on bringing the power of smart contracts to those devices.

QTUM Strengths

The development team at QTUM is made up of individuals with impressive backgrounds in a wide variety of fields, as befits a company that is attempting to blend elements of different blockchains. They also benefit from capital supplied by angel investors with similarly confidence-inspiring resumes.

There is little doubt that QTUM knows the technology behind what they are trying to accomplish, and has taken a thoughtful, considered approach to bringing the core value of blockchain to a wide businesses audience. The idea of using proven technology and fitting it together is a great example of the value that can come from such an approach.

QTUM Challenges

Of course, QTUM is not the only blockchain developer trying to enter the business mainstream, and it is uncertain how many providers can find a seat at this table.  QTUM is a late entrant and may need to produce results fairly quickly in order to win business users. Getting computer programmers to develop the customize oracles that allow efficient use of smart contracts is a large hurdle the company has to overcome.

In addition, there is a strange, tone-deaf quality to QTUM’s public face on its website. English words break inappropriately, ignoring the rules of spelling and making the entire website very difficult to read. Although poor English grammar is a hallmark of the cryptocurrency sector, QTUM’s website takes this to another level. In the business world where “perception is reality”, this odd quirk may create a perception of incompetence.

Conclusion

QTUM is a relatively young entrant into an increasingly crowded field. They have an intelligent approach to problem-solving that should appeal to their target end-user. The unknown issue is if that business will invest in this blockchain solution or some other provider who comes close to meeting their core criteria of usability and reliability.