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This move would provide extra mileage to the digital currency. The Crypto Visa Cardholders can take advantage of this card. The card will be valid for shopping and other activities. Therefore, this card is going to give a seamless transaction experience to the users. The users can use cryptocurrency the card throughout the globe. It will go hand in hand with Visa cards.

Coinbase

Key Features of Coinbase Card

The transaction process is at lightning speed. It’s a kind of real-time experience. Coinbase does all the digital currency conversions itself without any third-party involvement. This makes it different from other digital currency exchanges. Besides, it makes the process even quicker and flawless

Conclusion

What are digital currencies?

Digital currency is a general term used to describe all electronic money, including both virtual and cryptocurrency. Digital currencies can be regulated or unregulated.

Such money is available only in digital or electronic form and, unlike bills or coins, are intangible. Digital currencies, which can only be owned and spent with e-wallets or specially created networks, are also often called digital money or cyber-cash. The absence of intermediaries means that transactions usually occur instantly and imply very small commissions (or lack thereof).

What are cryptocurrencies?

The word cryptocurrency unites two different but related words – currency is a well-known thing, and crypto stands for algorithms for encryption and cryptographic technology to used to ensure the security of the network. In such a high level of security, cryptocurrencies are protected from being copied and faking. Cryptocurrencies often involve using decentralized power structure like blockchain technology so three are no need for third parties. It means there are no banks or another kind of financial organizations, the only person to person transaction with the using of two types of keys.

Undoubtedly, the most famous and most common blockchain-based cryptocurrency is Bitcoin. It also has the highest price, which currently stands at about $ 4,000 per coin. However, despite the popularity of Bitcoin, this is not the only cryptocurrency. There are many alternative coins or altcoins, such as Ethereum, Litecoin, Bitcoin cash or Monero. Some of them mimic Bitcoin, others are his forks (new cryptocurrencies, “breakaway” from the existing).

What are the distinctions in between the digital and cryptocurrencies?

Cryptocurrencies allow you to make transfers safely and reliably, eliminating the bureaucratic component, such as registration and restrictions. Anyone can audit all transactions. You do not need to get permission from someone. The same is true for the confirmation of new transactions. Thus, neither to create new transactions nor to confirm them, users of cryptocurrency do not need to go through the identification procedure (KYC).

We should understand that cryptocurrencies are the only digital money that works on decentralized blockchain technology. And all the new emission of such currencies can be released only according to the strict algorithm of the network. And the basic economic rules applied on price building of a coin as demand and supply. Not all types of digital currencies are considered as a cryptocurrency since and even some tokens and altcoins are not cryptocurrencies. Because they are not built on a blockchain technology and can not be referred to as fully independent networks.

Recap

Well, in the end. we can come to the conclusion that digital money or digital currency is a very wide term for any sort of assets kept in digital space. Cryptocurrency is a part of a larger pool of digital currencies since all of them exist on the web.

Cryptocurrencies are digital, as they exist on the Internet, but these are also virtual currencies created using cryptographic algorithms. Thus, although very often the terms “digital”, “virtual” and “cryptocurrency” are put together and combined, it is very important to understand the nuances that exist between these three types and to use them correctly.

Should you purchase cryptocurrency?

While the people of the “old school” carry their savings to the bank in order to place them on deposit at a meager interest, the more advanced invest their money in the cryptocurrency, since they are well aware that this asset will bring a good income that no other investment asset will provide.

Suffice it to recall 2009, when investors who believed in Bitcoin bought it for a few dollars, or even cheaper. Today they have billions of dollars in their accounts, and the rate of Bitcoin has grown thousands of times compared to its original value.

Many of these cryptocurrencies are much more affordable for purchase than Bitcoin. It is in them worth investing your money, but you should not forget about the risks. After all, some cryptocurrencies have appeared today, and tomorrow they can also simply and quickly disappear, bringing to the investor, albeit minor, but still losses.

Биткоин и долларовые банкноты. Сараево, 27 сентября 2017 года. REUTERS/Dado Ruvic/Illustration

Which cryptocurrency is best to invest in?

You have the means to invest in cryptocurrency. This is great, only now you have to decide which cryptocurrency is worth investing in. After all, it is no secret that investing in cryptocurrency is not only a possible income, but also no less risk. If you are just starting your way to invest, and you have enough money to buy the most popular cryptocurrencies, it is best to focus on digital assets in the top 10 by capitalization.

They are more expensive, but at the same time, more stable, and their price will not collapse as sharply as it can happen with no one known altcoin. Make a choice in favor of the most popular crypto active assets – Bitcoin, Ethereum, Bitcoin cash, Lightcoin, Dash, Ripple.

And investing in cryptocurrency is not too risky?

Any investment activity is risky, and the purchase of cryptocurrency is also no exception. However, even when you place money on a deposit at a bank, no one will give you guarantees that your bank will not go bankrupt tomorrow, and you will not have to take a long line of depositors to receive funds from the deposit guarantee fund, which will take more than one month.

As for the risks of investing in the purchase of cryptocurrency, the investor himself can reduce these risks to a minimum if he does not invest all the money in the purchase of one cryptocurrency, and distribute them among several assets. In addition, he should be able to determine the best time to buy an asset, as well as its sale, and analyze the possible development of the market situation.

Do not assume that having bought a cryptocurrency once, tomorrow you will wake up as a millionaire. You need to keep a hand on the pulse of the market, not to panic at a time when the value of your asset is sharply reduced. Remember – a fall in the value of a cryptocurrency is always replaced by its growth if we are talking about crypto active assets that are in the top 20 by capitalization.

Any other reasons?

The popularity of Bitcoin led to the emergence of other cryptocurrencies. Sometime later, after the appearance of Bitcoin’s, other similar systems began to appear. Nowadays, people who want to invest in non-traditional assets have a large choice in this market, because now you can find a dozen strong and fast-growing Bitcoin competitors on the exchanges.

Especially among Altcoins (as all cryptocurrencies that are different from Bitcoin today are called), I would like to highlight DASH and ETH. For 2016, the courses of this “digital money” increased by 12 and 8 times, respectively. The difference compared with even Bitcoin is huge: probably, not a single asset of the world brought in the past year the same profit as altcoins.

What is a Hard Fork?

Knowledge of what hard fork is necessary for users who have contact with the cryptocurrency world. Consider how the forks pass, what are their pros, cons and how to benefit. A hard fork cryptocurrency is the introduction of significant changes in the program code of the blockchain chain, as a result of which a new branch of the network is created that functions by its own rules and do not interact with the “parent” system. In this review, we will consider in detail the key points regarding hard forks, and we will understand why it is being held.

As mentioned above, hard fork cryptocurrency is a modification of the source code of the blockchain, as a result of which new rules for the functioning of the system are created, incompatible with the old algorithms. Since the old and new rules cannot work within the same chain, the network is ramified (hence the name of the process, because the hard fork translates as “hard fork”). The “mother” system continues to operate according to the established algorithms, while the new blockchain has its own ecosystem.

In most cases, the result of the hard fork is the creation of a new cryptocurrency, which runs within the same payment system. Sometimes this operation does not imply the creation of a new asset. Changes are made in order, for example, to correct the principle of extraction of a coin. In this case, division occurs. The best example of hard forks is Bitcoin Cash. For a long time, the BTC blockchain worked, satisfying user needs, and everyone was happy with everything. In 2017, there was a proposal to change the settings and increase the block size to 8 MB. The step was to solve cryptocurrency scalability problems: reduce transaction costs and increase the number of transactions per second.

What changes are made during hard fork?

We have already found out that often due to hard forks a new cryptocurrency appears. This asset is formed due to the fact that the organizers make fundamental changes to the original blockchain, which are incompatible with the old algorithms. As a rule, the following aspects are touched upon when holding a hard fork:

• Sets the maximum issue of the new currency.
• The time of block generation is prescribed.
• Sets the amount of the reward for the disclosure of the block and the frequency of its adjustment.
• An algorithm that regulates the complexity of mining is created.
• The block size is set (the possibilities of the subsequent change of this parameter are additionally specified).

In fairness, we note that the organizers of the hard fork extremely rarely subjected to drastic changes absolutely everything. As a rule, they cover only a couple of aspects. For example, one of the most successful forks of Bitcoin Cash is in many ways similar to the original Bitcoin. It has the same emission (21 million coins), approximately the same block generation time.

Conclusion

Taking into account all the above, we can say that despite some drawbacks, hard fork cryptocurrency is a rather positive development. Of course, attackers often use this, and ordinary people burn through on projects that are not successful. However, dramatic changes in blockchain networks stimulate their development, expand the possibilities of application, make payment systems as user-friendly as possible, and give new chances for investment. The main thing is to observe a competent approach when working with one or another hard fork in order to minimize all risks.

What is Bitfinex?

Millions of people today rely on cryptocurrency exchanges when trading digital currencies. When it comes to providing exceptional cryptocurrency services, the name Bitfinex comes to mind. As per its wiki, it has been a leader in the cryptocurrency market space handling $1+ billion exchanges on a daily basis. Ever since its launch in 2012, the firm has shown astonishing development.

Other than being one of the biggest names worldwide in the Bitcoin exchange, it also features a user-friendly and adjustable interface that allows clients to individualize their own interface.

In this article, we shall learn the basics of Bitfinex and all that it has to offer.

If you are planning to become a cryptocurrency trader, then you must know all about this exchange. Some of its biggest perks include multiple altcoins, advanced trading features, margin trading and much more. It also promises 10 various types of orders enabling users to trade without restrictions and deep liquidity.

Trading on Bitfinex

The exchange offers an extensive range of trading options which includes margin trading. Users can use the peer to peer funding center to trade with a 3.3 x leverage at max. Moreover, the buyers and sellers also have access to various order types including limit, stop and market orders. Currently, there are 72 market pairs linked to 4 base currencies such as BTC, ETH, EUR, and USD. Users can also use fiat currencies to purchase 2 big cryptocurrencies on the platform. Furthermore, the exchange also features altcoins for trading. These involve Tether (USDT), Monero (XMR), Ethereum Classic (ETC), Dash (DASH), Bitcoin Cash (BCH), Ripple (XRP), and Litecoin (LTC).

Who should use Bitfinex?

Other than in the US, the Bitfinex platform is conveniently available internationally. US citizens are banned from trading because of the limitations set up by the SEC. All the payments made on this platform are fully crypto. Previously, the platform used to make payments in USD. However, it has seized to do so today.

Understanding Tether

The platform uses a steady coin called the Tether (USDT) for the exchange. All the exchange users have a Tether funding option. Every tether token represents one United States dollar. Users can connect with other members of the Bitfinex community on web portals like Telegram, Twitter or subscribe to Bitfinex’s monthly newsletter to keep in touch with all the hot and happening in the Bitfinex world.

Security of Bitfinex

There has been a number of security concerns with Bitfinex in the past. Such concerns trigger the people running it to redefine their security-related protocols. As of today, Bitfinex uses modern-day and top-of-the-line security methods to secure cryptocurrency exchanges. Nearly all the funds (99.5% of them) are kept in cold wallets whereas the remaining (0.5%) are stored in hot wallets for exchange purposes. The Bitfinex website ensures the highest level of data encryption and follows duplication procedures as well as anti-DDoS to guarantee security. This means that no outside influence can prevent the trade from happening when transacted. The platform also offers a 2-step authentication, PGP encryption and utilize s Google Authenticator to ensure the utmost level of security for its users.

Final Word

Bitfinex is specially designed for professional traders which means that novices at exchange trading may find it a tad bit difficult to understand and work with. All those interested in learning exchange trading system can go through the pop-up dialogue box and read the terms and conditions listed before beginning to trade. You must have at least 10,000 USD account equity. Any user who doesn’t reach this limit may not be able to perform any transactions or trade on the Bitfinex platform.

What is Bithumb?

Popular in the Asian region, the Korean stock exchange cryptocurrency Bithumb entered the market in 2015. The service is owned by BTC Korea.com Co. Ltd based in Seoul. Cryptocurrency trading on the site is available to registered users.

Service in 2017 was attacked by hackers, resulting in a loss of several billion won. The criminals stole the personal data of 30,000 clients of the company, that is, 3% of the existing client base. The leak occurred as a result of hacking the employee computer exchange. The administration of the cryptocurrency exchange Bithumb applied to the police and reimbursed the lost money to the clients. Due to this, the reputation did not suffer and after some time the platform became a leader in the world, demonstrating the largest trading volume per day.

Indicators

From the published audit reports, it follows that as of December 31, 2017, customer accounts for $ 6 billion were stored in the accounts of the exchange, including bitcoins (Bitcoin) for 1 billion, Ripple (XRP / USD) for 1.6 billion, QTUM for 0.6 billion, EOS (EOS / USD) at 0.65 billion, ethers (ETH / USD) at 0.6 billion, Bitcoin Cash (EXANTE: Bitcoin.Cash) at 0.5 billion, Bitcoin Gold at 0.3 billion. Own funds amounted to 400 million dollars. Bithumb controls 75.7% of the South Korean bitcoin market and about 10% of the world one. At last count, the stock exchange accounts for half of all trade in the ether in the country.

Services

Bithumb offers two types of accounts – regular and corporate. When registering, individuals are required to provide their name, email address and telephone number; companies must provide a legal address.

In March, Bithumb announced its intention to launch a new service that allows customers to pay for cryptocurrency in more than 6 thousand stores around the world.

In addition, Bithumb plans to place special terminals in restaurants and cafes in South Korea, giving its customers the opportunity to pay in cryptocurrencies. For this purpose, the exchange has signed agreements with three Korean terminal manufacturers – Uno Space, TROS Systems and IYU.

Registration and Verification

You can start using the functionality of the service and trade in tokens, you can go through the registration procedure. Initially, you will have to enter the necessary data in a special form and then confirm the phone number. Filling out the form, specify the following information:

• email address;
• telephone number;
• first name;
• password for account security.

Going through the registration procedure, you must indicate whether the client is a natural or legal person. You will need to enter information about the nationality and after authorization using a phone code, you must accept the conditions set by the administration. You will need to click buttons 10.2 and 10.1, where information about all the documentation is provided. You have to confirm your belonging to a race by solving a captcha that checks if you are using a computer program to enter.

Commissions

While reviewing the Bithumb exchange, one cannot but mention commission fees charged by the site administration for opening deals. Regardless of the type of transaction, that is, sales or purchases, the service charge will be 0.15%. You can reduce this amount to 0.075% if you use the coupon, which gives the right to a discount. There are proposals that allow avoiding the payment of commission at the opening of trading positions on the site.

Reviews Bithumb

The feedback received by the Bithumb Exchange indicates that users from outside of South Korea have problems with verification. Also during the registration process, it is often difficult to obtain a phone code to confirm the phone number.

Any owner of Bitcoins or Altcoins, of course, thinks about where to put them. And since you have acquired a cryptocurrency, appreciating its advantages, you must also take time to study the issue of storage, so as not to fall for scammers and hackers. Most incidents in the world involving hacking and theft of cryptocurrencies could have been avoided if the owners of the crypt took security more seriously, which we propose to do to you. After all, you can never trust your money to anyone. Recently, there are a very large number of various services that accept digital coins, store, transfer, exchange, etc. So, what kind of wallet for cryptocurrencies to choose in the end? We will try to help you understand this diversity and make the right choice.

What is cold and hot storage

So, first, you need to understand the fundamental difference between the so-called hot and cold storage of tokens. What is the essence of these opposing methods:

Hot storage, or as it is also called hot wallet, or online storage – can be described in one word – “online”. It includes all online wallets that are connected to the network around the clock and give instant access to your funds at any time of the day or night.

Cold storage (in other words cold wallet, or offline storage) is a completely offline method. It could not be better suited for very wealthy people who have huge amounts, or just for people who are shaking over their savings, very afraid of losing them.

Wallets for PC

You can download and install an electronic wallet for cryptocurrency directly on your computer – the so-called desktop version. As a rule, such multicurrency versions, for example, Exodus, with the built-in platform ShapeShift. Protection through private keys, although the choice of currencies is small – only about a dozen of the most famous.

As for the interface, it is not complicated, the control is clear, the design is beautiful. Bitcoin Core product provides a good level of protection, as it is quite independent. As easier to use as compared to a Bitcoin wallet, Electrum can be considered, it runs on Windows, Linux and Mac supports basic hardware store, and will be convenient for beginners.

Advantages and disadvantages

Software wallets are mainly used for long-term storage of cryptocurrencies. However, they are also convenient for conducting large-scale calculations. Such wallets can be called the optimal ratio for safety and ease of use.

Private keys are stored by the user – this is a significant plus, but there are also disadvantages to such wallets. For example, binding to one device, as well as the loss of funds due to breakdown or theft of a computer (if there was no backup on removable media).

As for the features of using software repositories, we will highlight the following:

• Wallets for cryptocurrency need to be downloaded only from official sources and timely updated to new versions. Do not neglect the updates, even if you like the old version more. Often, developers eliminate flaws and vulnerabilities, because to ensure maximum security, it is important to timely download the latest version.
• Although software wallets are considered the most secure, it is also important for the user to monitor the security of his computer. First of all, you should take care of a high-quality and reliable anti-virus.
• You should not download a client or store a backup on devices that someone else has access to. This applies not only to computer workers but also to those devices that other family members have access to.
• After downloading the storage and replenishing the balance, it is important to make a backup copy in order to recover funds in case of computer breakdown or other unpredictable situations. Backups need to be done every time after new transactions.

Best wallet for every coin

Consider the most popular desktop wallets for main cryptocurrencies:

Bitcoin – Bitcoin Core, GreenAddress

Litecoin – Litecoin Core

Ethereum – Ethereum Wallet, Mist

Bitcoin Cash – Electron Cash

XRP – Toast