Cryptocurrency Wallets

Cryptocurrency Wallets

Cryptocurrency wallets are used for the transaction and storage of the digital currencies like bitcoins. Many of the popular cryptocurrencies have their own official wallet. Some of the wallets store a certain currency while others store more than one. Some wallets store public address, which are like account numbers, to receive a certain type of cryptocurrency. A wallet can be used to move funds with the help of blockchain by the owner of that fund. A wallet is a platform like online banking with blockchain as digital register.

Types of Crypto-Wallets

There are several digital wallets used to store the cryptocurrency. Each type has its own advantages and disadvantages over other. Online, mobile, desktop, hardware and paper wallets are some of the majorly used wallets for the cryptocurrency. Online or web wallet is a least secure wallet but can be used for small amount of cryptocurrency. These wallets provide users with the fast transaction. Mobile wallets are apps for payment by cryptocurrency in various shops where this currency is acceptable. These are more secure than online wallets and provide a feature of a QR code.

Hardware wallets are one of the safest types of cryptocurrency wallets. These store private keys in a CD, USB drive or hard disk. Despite the fact that these wallets are offline, they can still be used online. These are used to store a large amount of cryptocurrency which is not used on daily basis. A paper wallet is an extremely offline wallet, which has printed public or private keys. Transfer of funds is either done by the public address or by entering private key or scanning the QR code on the paper.

Disadvantages Of Cryptocurrency Wallets

With the increase in the types of wallets, they are gaining or losing the advantage over other. Online wallets have a risk of online security, computer virus and interference of the third party. Mobile wallets have a risk of losing data due to the damage or losing of a mobile phone, and mobile viruses. Desktop wallets, when connected to the internet, become less secure.

The Crypto Social Network

Social media has become a part of our day to day life. When we get up from the bed, the first thing we do is to check out social media. Facebook, Instagram, YouTube, and all the other social media sites have become an inseparable part of our life. The main reason behind this is that it is free and entertaining. But, they are giving everything out there for free only in return for your precious information. The main drawback of Social media is its privacy. This is where crypto social networks beat them all.

Yes, Blockchain is now not just about the cryptocurrency. Some of the cool Blockchain systems like Ethereum and NEO also give you the ability to start a social network using Blockchain. The best thing about blockchain powered decentralized social network is it’s more privacy, security as well as efficiency. There are various popular examples of Blockchain social network such as Sociall. Sociall is a decentralized social network powered by Blockchain technology. The interface is as beautiful as a bootstrap powered website.

 Why Crypto Social Network?

There are many questions regarding Crypto social network like why Crypto Social network is future? There are many reasons for it. Some of them are as below.

Privacy and Security: First of all, you get the best level of privacy and security. Unlike other social networks, the crypto social network does not steal user information. Hence, your data is private.

Control on UGC: An another advantage of a decentralized social networking platform is control over the content. There is no particular unit which controls over the user-generated content. As a result, you will get more control over the content.

Freedom: Some of the biggest drawbacks of the social network are censorship and freedom. Even with the implementation of end-to-end encryption in some of the social networking sites, there is still a problem of metadata getting exchanged. Some crypto social network does not even require to create a user account.

Payments: In the end, it is all about crypto. With this technology, you can implement any kind of transaction features in Blockchain powered social network.

Using Cryptocurrency For Food

 

Cryptocurrency in the food industry

In this digital world, cryptocurrency has acquired a place and has become one of the means of payment for many applications like business and travel and personal applications like ordering food, booking hotel, flight booking, etc. There are many projects going on to make cryptocurrency a better means for transactions in the food and agriculture field. Cryptocurrency may increase the efficiency and transparency of the food industry. Many people are getting attracted by cryptocurrency due to its betterment in tracking and monitoring of the food supply. It also provides information about the origin and the health of the supply. This information is provided with the help of blockchain.

Cryptocurrency for food delivery

Cryptocurrency finds a major advantage in supplying food across the globe due to its feature of distributed electronic register. It can reduce the time of tracking remarkably by providing transparency of the shipment. There are many businesses in the food industry like food delivery. Food delivery is one of the fastest growing fields that is attracting businessman along with the customers. Customers prefer a variety of foods like Italian food, Spanish food and many more. These can be easily provided by the help of food delivery services. Many food delivery marketplaces are accepting cryptocurrency like bitcoins as a mode of payment.

Cryptocurrency in agriculture

The farm includes complicated ecosystems that involve many moving parts, careful timing, and financial structure based on the season. When the food leaves the far, it becomes a part of the huge chain of supply including various parties like buyers, sellers, and distributors. Therefore, it is important for these parties to know the location of food. Cryptocurrency provides these steps of supplying and distributing simpler.

Cryptocurrency risks

Cryptocurrency has no revelation on the major economic places and common stock markets. They are not sure of returns of currencies and commodities. Shipping of food across the countries through cryptocurrency is not always true as many countries have centralized currency. Cryptocurrency rates keep on changing so there is no sure exchange as well.

 Using Cryptocurrency For Video Gaming

 

Cryptocurrency has emerged as a great alternative to regular currency in recent years. Although it doesn’t exist in any physical form, it acts as that medium of exchange which is extremely secure and which adds many levels of security in our transactions. This is the main reason why cryptocurrency has made a considerable place in our life in the modern times. You can use cryptocurrency for food, travelling, education, celebrations and even in gaming world. Video gaming is very popular among the youth nowadays. This virtual world has transformed our dreams into reality and has given us an opportunity to live in these dreams. What could be better if we can earn real money while playing video games? That’s where cryptocurrency makes its entry in video-gaming world.

Video Gaming and Cryptocurrency

These days many cryptocurrency organizations want to evolve into game money with trading capabilities that are reflective of popular video games. Now the burning question is that can cryptocurrency provide an additional advantage to video games or an upcoming obstacle in already thriving entertainment?

Basically crypto won’t bring any changes to the actual gameplay. Crypto will be welcomed more in video gaming world if the token-price makes it possible for the gamer to purchase better in-game items that make the game more entertaining and enjoyable. Game developers lose their profit if gamer sells their unique skin or game items outside of the game. In order to solve this issue game developer and cryptocurrency builders are creating assets so that one may be able to purchase in-game with crypto coins. If you purchase a sword in one game with your sword-coin, a user can use that sword in multiple games. So basically the gamer owns it.

Related platforms

Enjin the platform is creating the Enjin coin with which a gamer can purchase items within the game. It also allows developers and players to create, manage, distribute, and trade in-game items. Enjin developers offer another mind-blowing facility like if a gamer has a high-end character like FPS, the gamer can rent that character to other players for a certain amount of Enjin coins per day.

Bitcoin Mixer

 

Bitcoin mixers have become a part of the crypto sphere and many different types of bitcoin mixers are used to anonymize the source of different cryptocurrencies in the wallet. I

Initially, bitcoins were created to be anonymous but with the implementation of the KYC rules by the governments, the storage and transmission of your coins can be traced. Many blockchain analysis companies perform this task of tracing the owner of the coins with the development of different modern technological tools.

In order to make them untraceable and to maintain their anonymous nature, bitcoin mixers are used in the crypto market.

What is the purpose of using Bitcoin Mixers?

All the transactions on the blockchain are recorded and visible to the analysts. Analysts companies like Chainalysis can simply trace ,these transactions back to you if you have linked your wallet to your KYC at some point of time.

With the help of Bitcoin mixer, you can mix your coins effectively and eliminate the possibility of the transactions being traced back to you or your IP address. The main motive of using a Bitcoin mixer is to protect the privacy of the user.

 

How does Bitcoin Mixer work?

In the process of Bitcoin mixing, an equal number of bitcoin owned by you are sent back to you in order to make them untraceable.

These coins which come back to you come from other sources instead of your original coins. So if anyone is closely tracking your coins, they won’t be able to trace the destination of your original coins and neither would they be able to trace any of the new coins back to you.

 

Beware of Scams

Not every bitcoin mixer available is reliable and you should be well aware of the frauds and scams. One of the oldest and most trusted bitcoin mixers are bitcoinmix.org. You should be cautious about using the right bitcoin mixers otherwise, you will end up losing all your hard-earned bitcoins.

 

Is Bitcoin Mixing worth the trouble?

The blockchain is like an open ledger and everyone can see who has bitcoins and who does not. You are subjected to thefts and hacks if scammers have your personal information and know that you own quite an amount of bitcoins. Thus, you can use the mixer to cover the trail of your bitcoins. Keeping your privacy is very essential to keep your coins and your identity safe and secure.

All about Margin Trading in Cryptocurrencies

Cryptocurrency trading is a gamble, if done in the right manner with educated decisions, it can be very rewarding but it can also be very risky. One should always be cautious and prudent before putting their hard-earned money in cryptocurrencies.

So, one should be aware of Margin trading in order to make it both rewarding and less risky for you. Here is all about Margin trading, you need to know.

What Does Margin Trading Means?

Margin trading refers to the process of borrowing additional money/cryptocurrency by leveraging the number of cryptocurrencies already owned by the trader to buy additional cryptocurrencies.

Margin trading is a traditional method of trading which is now being used in crypto trading also. Let us understand the concept of Margin trading in crypto trading with an example.

Now, you have to make an investment of $4000 in BTC but you have only $1000 with you. So, now you need an extra $3000 BTC, which you can borrow through a margin of 4:1. Thus, for every $1 you get 3 dollars extra as margin).

After you have invested this money/BTC, you can reap your profit and give back the borrowed amount and enjoy profits of the remaining amount.

But this can be reversed also, for expel you have borrowed money as margin trading and the price of your BTC decrease by 50% then the right of the lender will be protected first and you will have to pay the lender $3000 and now you are left in a negative figure of -$2000.

So, margin lending if done wisely can be highly rewarding and if the gamble does wrong, it can leave you in a huge amount of debt.

Who gives away the money for Margin Trading?

The main question comes that who is giving away this extra money for lending and why? Many different brokers and individuals act as lenders of margin money and provide their own BTS or money for margin trading of cryptocurrencies. The main motive of lending is charging a nominal interest or fee on the money they lend.

When the traders are in loss or his portfolio performs poorly, then the position is closed to save the interest of the lenders and recovery of their principal and interest. It is done automatically by the brokers.

But on the reverse, if the trader is in profit, then the lenders get profits regularly on their money according to the terms and conditions of the trade.

 

Getting Involved in ICO Bounty Campaigns

 

There is a natural scope to earn through investment in ICOs. This is mostly the case when the market is doing well. This may not be everyone’s ideal method though. Some people love the blockchain and cryptocurrency movement but just are not cut out to be traders but still want to find ways to earn and learn through crypto. – One method of doing just that is by getting involved in project bounties.

Getting Started

Sometimes, like anything, getting started may seem tough. Actually, it couldn’t be easier. You can find lists of ICO bounty campaigns on forums or sites such as ICODrops. From here, you can find something you like the look of and head on over to their website to make contact or use the method of application required.

What Can You Provide

When you identify which projects you would like to be a part of, you then need to consider what skills you can bring to the table. What ICOs are most in need of is marketing. This means there will likely be bounties on many micro-tasks such as user registration and sharing of social media content. This is all very easy stuff, right the way up to Whitepaper translation into a variety of languages. Whichever things you commit to doing, just be sure that you have the ability to actually do them. This will enhance your reputation among the community as being a reliable person.

Getting Paid

Bounty campaigns are rewarded through provision of the platforms tokens. In order to receive these rewards, you will require a wallet which is compliant to receiving those tokens. Services such as MyEtherWallet are usually a good option in these cases.

Conclusion

ICO bounty programs are easy to get involved in once you get started and they can lead to a decent secondary income. They will also further your knowledge greatly in the crypto world and provide you with diverse interests through your token earning endeavors.