There are many different types of wallets available in the crypto market like web wallets, desktop wallets and even software wallets. But if you are a long term investor, then it is best to hold your Bitcoins and other cryptocurrencies in the most secure wallets which are the hardware wallets.
Hardware wallets are the most secure among all the cryptocurrency wallets. In case of any thefts or scams, your coins remain safe in hardware wallet. Even if your hardware wallet is lost, they can be restored in a new wallet.
Hardware wallets store the private keys of your Bitcoin in an offline environment. They are specifically designed electronic devices which are tamper-proof and generate the private keys needed to sell/spend the Bitcoins.
These cannot be hacked as it is in an offline setting and there is a seed word which is like a recovery phrase which you should remember at all cost in order to recover your keys. It is recommended to write the seed word on a piece of paper and keep it in a safe place.
Hardware wallets have a digital screen with a user interface through which you can verify transactions or some have security grids. If you lose your hardware wallet or it gets damaged, it can be recorded through the seed word. The best hardware wallets for 2019 are:
- Ledger Nano S
Ledger Nano S is a sleek and elegant hardware wallet which can be connected to your Laptop or desktop via USB. It is easy to use, has a seed recovery backup and has an elegant design with buttons of the side for easy navigation.
KeepKey is another hardware wallet which has the seed recovery backup feature which is pin code enabled. It is bulky than Ledger Nano S but supports 6 cryptocurrencies at present.
One of the most popular and handy hardware wallets is the Trezor wallet. It is developed by SatoshiLabs and looks just like a small calculator. It is the most secure hardware wallet and comes with an OLED screen. It is secured by a 24-word long seed word and a nine-digit pin.
The added feature of Trezor is that it can be used easily with apps like Mycelium and Multibit HD and your Android device.
Developed in 2013 by NBV International, Coinmama is a cryptocurrency digital service company which gives safe and secure access to its users for buying cryptocurrencies like Ethereum and Bitcoin.
Registration at Coinmama
The registration process is very simple and easy at Coinmama. You can simply register with your mail id and submit your proofs to prove your identity. You identification proof is directly related to your buying of cryptocurrencies. The higher number of documentation proof provided by you, higher is the digital currency you can buy easily using Coinmama.
After logging in, you have to set up your SMS authentication and 2FA for keeping your account and transactions safe and secure. Although it is not mandatory, it is highly recommended.
The final step is to verify your account using the button on the left side. After verification, upload your documents/government ID which will help in setting the purchasing limit.
Different Levels of Purchasing limits
Level 1 is up to a limit of USD 15000$. For this level, you will need a government issued ID, a note with “Coinmama” written on it along with the “date” and your selfie holding that ID. The acceptable documents for the government id are:
- Driver’s License (Both the sides)
- A National ID card (Both the sides)
- International Non-US passport (Double page)
The next level gives you a purchasing limit up to USD 50,000$ which will need you to upload a utility bill along with the documents required in level 1. The acceptable utility bills are:
- Cable Bill
- Gas bill
- Electricity bill
- property tax
- Credit card statement
- Bank Statement
Note: The internet bills and paper bills are not accepted at Coinmama.
The highest level has a limit of purchasing up to USD 100,000$ which will require you to fill a form on the Coinmama website and contacting the support team personally.
Coinmama operates in more than 180 currencies worldwide and has more than 100 million customers like obanc. Its main feature is its safe service for buying different cryptocurrencies like ETH, BTC, LTC, XRP, BCH, QTUM, ETC via credit cards.
If you have heard about Bitcoin and have never invested in this cryptocurrency then the time is now. If you understand the working of Bitcoin then you will definitely understand that this currency is here to stay and will keep growing in the future.
Bitcoin is a decentralized digital currency which will keep rising in the coming years but before investing, you should understand the principles and technology behind it and its workings. The main reason for its popularity and viral adoption is the finite amount of Bitcoins available in the market.
Pre-requisite requirements for Bitcoin investment
- Exchanges to buy Bitcoins
You should be very careful in choosing the right exchange when buying Bitcoins or else you can fall prey to some of the scams in the market and end up losing your investment.
Some of the major and most trusted exchanges to buy Bitcoins are as follows:
- India: BitBNS
- USA: CoinBase, Gemini, Kraken
- UK: CEX
- Europe: CEX
- Russia: Yobit
- Israel: CoinMama
But there are many countries across the world where no Bitcoin exchange is available and the citizens residing there have very limited means to buy Bitcoins. Some of the tested options to buy Bitcoins in such countries are through PayPal, Cash, and credit card, Debit Card, Payoneer and Payza.
- Wallet to store Bitcoins
You should have a secure wallet for securing your Bitcoins. Having Bitcoins is same like have hard cash with you where you are solely responsible for buying, selling and storing it in a safe and secure manner. If it is not secured, then you will end up losing your Bitcoins and in turn a large amount of your investment. Thus, always choose a proper wallet for securely storing your Bitcoins.
Since the prices of Bitcoins are continuously rising, you can buy Bitcoins even in fractions like 0.005 Bitcoin. You should only buy Bitcoins from a reliable and trusted exchange and kept secure. You are responsible for your Bitcoins and it’s your duty to keep them secure. You should be wise with your money and treat your Bitcoin like you all other investments.
Social media has been a very big influencer in today’s world. There is no particular field that social media hasn’t influenced and this holds true for cryptocurrency and blockchain, as well. Different social media forums contributed to the spread of cryptocurrency. From posting ads on Facebook to discussing startups on twitter, cryptocurrency has come a long way thanks to the influence of social media.
Social media is the reason why the world has turned into a small place. Globalization of anything can be done easily through social media. No wonder it has become a new and effective platform for promotions.
So, when we are talking about concepts like blockchain and cryptocurrency there is no way people are going to understand them easily. This is the reason why cryptocurrency wasn’t an instant success. But with the involvement of social media, it is quite evident how far cryptocurrency has come.
For example, Bitcoin is the most popular cryptocurrency as of now. But it isn’t an instant success. The involvement of social media platforms like Facebook, twitter, and most importantly Reddit laid the foundation for the rise of bitcoin. So, basically, social media platforms help the users to get exposed to cryptocurrency and its various aspects. And this information is given in a very easy and simple manner.
Social media not only helps to keep cryptocurrency mainstream but also will influences the fluctuations of its price. When tether was hacked recently its value dropped by 5.4%. This is due to the spread of news via social media.
Cryptocurrency has come a long way since its release. Sure there are some backlashes and controversies, but it continuously excelled from the beginning. It is still considered a very good opportunity for investment.
So, in order to make that investment, people again should turn to social media for proper feedback. With new changes in cryptocurrency and also with new innovations there is always something, people have to know about. At that point, social media helps. It’s not just by providing information, social media is also promoting cryptocurrency by advertising them.
The blockchain technology has gone way too far than anyone had ever expected in the past few years. A lot of new cryptocurrencies and exchange platforms came into existence.
Apollo currency is one such new platform for cryptocurrency exchange. As its founders claim, it is the first ever all-in-one currency. Unlike other cryptocurrency wallets, Apollo currency offers a wide range of features other than just making payments and handling business transactions.
The main advantage and a very unique feature of Apollo currency is that, it can be used in almost every business sector and day to day life.
Most of the cryptocurrency wallets at present mainly focuses on handling business transactions. But Apollo currency is specifically designed for normal and small-time investors and to serve their needs. This wallet doesn’t just hold its APL coins but helps you to sell your own digital content and physical goods in its own ecosystem.
Apollo Currency offers some really unique features to its users. A few of these features are:
- Apollo Currency will allow its users to upload data to the blockchain for storage. This helps to receive a timestamp for the data. So your data will be safe and secure.
- Unlike other crypto wallets, you can trade your assets with 100% privacy. No records of the transactions are stored within the ecosystem.
- Apollo currency allows multi-signature accounts which will allow more than one user to handle the accounts.
- By using its Apollo voting, the group can vote on the transactions that take place through the account.
Apollo has its own cryptocurrency coins which are called APL coins. They are very easy to use. This is because APL coins are pre-mined. So unlike other coins in the market right now, APL coins do not require huge amounts of electricity to mine them.
Apollo currency is unique in its own way at a lot of levels. But still, the creators are trying to make it more reliable and accessible to its users. The next major milestone they are trying to reach is reducing the transaction time to less than 2 seconds.
With a Market capitalization of over 2.5 billion USD and ever rising price, EOS is a hot topic in the corridors of technology. While trying to address the issue of scalability, EOS is a technology based on blockchain and is very much similar to a decentralized operating system. What this means is, the developers can collaborate and build decentralized applications faster. There is a common set of rules for all the developers, common username/passwords, applications talking to each other while sharing databases at the same time.
How EOS is better:
- It is gaining heights due to two very important offerings, one being the ‘free usage’. Unlike Ethereum, it’s main competitor which charges for every transaction, EOS does not charge anything for any number of transactions, hence gaining the popularity.
- Second important offering is that in contrast to Ethereum, which uses a Proof of Work model which actually was the first consensus mechanism based on blockchain and in itself is quite expensive, EOS prefers Proof of Stake which helps it in addressing the issue of scalability. Because of the proof-of-stake mechanism, EOS can compute millions of transactions per second.
- Unlike other blockchains where a user is bound to use a specific language for the development of applications, EOS gives flexibility to support any language which has a web assembly compiler, example C/C++.
EOS is also making some of the financial analysts worried as well. With the announcement EOS made, that they will be distributing 1 billion tokens in the market, it did upset the investors who never want to see such a huge number in the market. In comparison to Bitcoin which has 21 million tokens and Ethereum which sits on the pile of 93 million tokens, with the huge number of 1 billion, investors don’t see huge potential in EOS tokens. Also what might come as a shock to many, was the open admission by EOS where they blatantly accepted that EOS tokens do not have any purpose or usage. This made many investors curious about how EOS is expecting to raise the capital while making such statements which can tag EOS tokens as useless.
Did you also notice all the rumbling around cryptocurrency in 2018? Thanks to the surge in ICOs, it has become the talk of the town ever since. Moreover, the start-ups like Bit-Exchange are providing the readymade blockchain projects to quickly facilitate your new venture in 2019. Let’s now talk about some ideas you can try your hands on in case you are thinking of jumping in to the vast ocean of cryptocurrency.
Cryptocurrency Exchange – In cryptocurrency exchange, people trade their currency for other cryptocurrency as well as can sell them flat for other physical currencies viz. USD, AUD, EUR etc. Since cryptocurrency has seen a huge turnout of investors in recent times, existing exchanges are not able to handle this much volume and so the demand for such exchanges is increasing. This makes it a venture worth giving a shot.
Payment apps for overseas transfer – The second hot topic in that makes to this list is Payment apps for overseas transfer. If you have travelled out of your home country for a significant amount of time, you might be aware of pain in transferring money to loved one’s back home. This is because of the time consuming process along with all the middlemen who charge a sum for making this transfer. This ultimately increases the overall cost of sending the money overseas. Using the blockchain tech. which uses XLM token, you can remove all the middlemen while reducing the transaction time in one go.
Cryptocurrency Wallet as-a-service – If you have inclination towards security and hacking related issues, this idea is for you. Cryptocurrency is currently plagued by the hackers who notoriously are making attacks on Wallets around the world. This makes people wary and confused about what all Wallets available in the market they should trust. If you can raise enough awareness and come up with a robust security system, you can offer it as-a-service to the cryptocurrency owners. This will make the owners worry-free by freeing them from the hassle of choosing among the available Wallets and at the same time will be profitable for you.
A wedding is a beginning of a new relationship, new life of two persons. A wedding is a grand affair for the entire family and the family wants to make it more memorable and enjoyable. Wedding planning refers to the design, management and documentation of all the wedding events. Wedding planning is sourcing and managing wedding suppliers, arranging wedding venues, and paying them timely for their services.
The services in wedding planning may involve designing and drafting decoration of the wedding, contracting service providers and wedding professionals such as suppliers, videographers, florists, photographers, beauticians. It also include coordination of all the services/deliveries for wedding purpose, and develop wedding layout such as the location of the dance floor, buffet points, chairs, tables, lounge, etc. A perfectly captured picture can relive the best day for years and a perfect moment captured in the perfect manner is worth a million. It is photography that can click unplanned moments of the people emotions, be it cheerfulness, joy or tears. Arranging a good photographer is very important for a great photography. Wedding videography is one of the best and pleasurable profession for the lovers of photography. However, it is also a stressful and challenging work. Wedding videography helps people to capture and save best moments of their life forever.
It is good for the couples to prepare well in advance and get assistance in the development, design and logistics. Planning of wedding also include planning of payments. Mostly people prefer to use their debit/credit cards to complete the payment process, but now a new concept of paying money through cryptocurrency has emerged. People like to spend their crypto to pay all their wedding dues. It is a good concept as it has low transaction fee, fraud fee, is accessible anywhere, and can be used internationally without any charges. Wedding is a grand affair and many times people are buying things/services outside their own country to make their wedding lavish. Bitcoin or eos crypto are the easiest forms to pay internationally without any bank interference or charges. There are many vendors, service providers, and venues that accept bitcoins as a payment option for their services.
The approach of cryptocurrency is purely different as it is a digital currency which do not exist in any kind of physical form and cannot be stored anywhere. Bitcoin is one of the highly used and popular cryptocurrency. Bitcoin address and sign for the transaction are accessible only through private keys. The combination of user public key and private key makes bitcoin transaction possible. Bitcoin also need a wallet to keep it but it is not like a physical wallet. A place where both bitcoin address to receive bitcoins and private key to spend/transfer bitcoins are kept, is known as bitcoin wallet. A wallet is just like a digital file that safely stores bitcoins. There are many types of bitcoin wallets in the world such as:
- Hardware bitcoin wallet– it is highly secured and the safest way to store bitcoins. It is an offline mode wallet and provides no chance of loss or theft of bitcoins. These wallets need private keys and digital signature to spend bitcoins. Example of hardware bitcoin wallet are ledger Nano S and Trezor.
- Mobile bitcoin wallet– mobile wallets are the wallet applications which can be installed on mobile phones. Compatible wallets are available for every type of mobile phones such as Android, iOS, windows or blackberry. Unocoin, Mycelium, samourai are some of the examples of mobile wallets.
- Desktop bitcoin wallets- desktop bitcoin wallets are installed on various desktops such as windows, Mac, or Linux on the basis of their compatibility mode. Some example are Exodus, Electrum, and Jaxx.
- Web bitcoin wallets- web based bitcoin wallets are web services and can be reachable by internet based browsers such as IE, Firefox, or Google chrome. Private keys of these wallets can be accessible by internet only. These are also known as hosted wallets as online wallet server stores the client’s bitcoins. Examples are Coinbase, Xapo etc.
- Paper bitcoin wallets– this wallet is the piece of paper on which bitcoin public address and private address is printed. This is an offline mode of saving bitcoins and secured by owner so there is a low threat to loss of bitcoins electronically.
Some bitcoin wallets are based on their connectivity such as
- Hot bitcoin wallets – connected 24/7 with internet connectivity.
- Cold bitcoin wallets– stored offline in paper, USB drives, or Hard drives
Some Bitcoins wallets are based on keys custodianship, such as
- Custodial wallets- some agency/ exchange services stores bitcoins in behalf of the client
- Non-custodial wallets- when client himself take responsibility of their own funds
There are various types of bitcoins wallets in the world. It is good to choose wallets which is suitable to your needs, level of activity and level of security.
The trend in investments in crypto currency has been growing since a few years now which is mostly because of the large profit margins associated with it. Now, it is established with people losing money over crypto currency that it is not a fortune investment where everyone can cook something. It has always been about knowledge of the market and its application when it comes to making money. Though you might not have to suffer loss if you keep these things in mind.
Awareness and knowledge would definitely help you mark your ground in this line of investment. Since, most of the transactions are easily associated with clever exchanges and cycles, you need to know the basics of crypto currency before investing in them. This is the very basic of investing in anything actually, since you would need to know about what you are investing in.
Avoid pooling your money:
The very best way to stay safe from one loss is to make it up with a better profit at the same time. There would always be ups and downs in investments and it is never hundred percent risk free. So, to keep yourself out of the complete loss, make sure to invest on vast crypto currencies and not on single ones. In this way, the probability of your loss becomes low and you create a sense of security around you. Check out here for further details.
Be patient in selling and buying:
While purchasing a set of crypto currency make sure that you understand the timing of their purchase and selling. In this way you can earn maximum profit while minimising the chances of loss.
A generic piece of advice to do anything would be to stay practical while you are at it. The very means of being practical is referred to the understanding that your money would not grow over night. So be patient with that aspect while investing your money on buying cryptocurrency.
Following these four tips would not make you an expert in cryptocurrency trading but would definitely help you build a great understanding of the same.