Monday, August 26, 2019

Videocoin Network is a bandwidth selling storage project

Videocoin Network is a bandwidth selling storage project | The VideoCoin Network is a decentralized system for distributing, encoding, and storing content. It take’s existing cloud-based video services and turns them into an efficient algorithmic market. The entire thing runs on the new blockchain developed by the team and uses VideoCoin (VID), the native protocol token. - Crypto news talks.

The team behind VideoCoin recognizes that 82 percent of internet traffic is video’s, 11 percent is web and data, 4 percent is file sharing, and 3 percent is gaming. Since video accounts for such a large chunk of internet traffic, it should run seamlessly and efficiently. Despite this, there are numerous obstacles in the way that limit it’s potential and use to become something bigger.

Videocoin Network is a bandwidth selling storage project

We have seen lot of PoC (Proof of capacity) coin’s in the past but none of them really taking off that well. When it come to rented internet speed development or storage in general, thats a new market and hasn't really emerged yet and i think it will grow from a niche eventually into a proper market, its just gonna take some time. By lending your CPU/GPU this will help "Decentralized Video encoding" take place in the Videocoin Network and helping the community.

Even though the user interface is just an alpha version (a long way to final product) it look rather neat to be honest. Because of the promise of the project there already are couple of companies/applications/websites that are already aboard using videocoin technology such as :
  • vLogger - Follow your favorite olympic athlete wherever they go with vLogger app. Our AI-Driven technology coupled with powerful light-weight videocoin network lets you view your favorite athlete's every move
  • PowerTube - Powerful content creators can now create their own sharing platform and take full control of their content, distribution and monetization strategies.
  • Live Planet - End-to-end VR video system to easily capture and distribute stunning live recorded 4K VR and 360 video, utilizing nimble videocoin blockhain network.
  • Smart Ads - Smart ads just got smarter, now video networks cand isplay ads that are actually tailored to the viewers interest.
  • FreeCast - Enabling free speech where free speech is not allowed. We take advantage of the low-cost videocoin network to make videos available in remote and closed-off countries around the globe.

Do you know about Cardano and Libra cryptocurrency coin project ? Get involve’s at it here before it’s to late ...
1. Cardano is a sleping giant that hasn’t wake up yet
2. What’s happen to LIBRA cryptocurrency coin in Crypto’s World ?

How do you earn VideoCoin Token ?

The VideoCoin token is an important part of the ecosystem and is its native protocol token. Storage miners can earn VideoCoin tokens by storing videos, and they receive better rewards by pledging more storage. Distribution miners earn tokens by delivering video’s, and the more bandwidth they offer, the better their rewards.

Just imagine if you have an UNLIMITED BANDWIDTH that hasn’t fully been use ! This is it guy’s ! It’s coming ...

How do you earn VideoCoin Token

Compute miners provide the CPU time used for transcoding, and as with other miners, they receive better rewards for more computing power. Finally, relay miners earn tokens by relaying storage on the third-party servers. The more bandwidth and storage they provide, the greater their reward’s. - VideoCoin Guide

Should you involve on VideoCoin Token ?

VideoCoin aims to enhance the way that users experience, store, and process videos. As a decentralized video platform, VideoCoin makes improvements over traditional video platforms by leveraging blockchain technology.

The presale has already ended, and tokens will be distributed soon, with the product launch next year. VideoCoin does have a great deal of potential considering the solid team behind the project and the significant percentage of internet traffic that is dedicated to videos, undoubtedly making this project Videocoin Network is a bandwidth selling storage project worth to watch.

Friday, August 23, 2019

Cardano is a sleping giant that hasn’t wake up yet

Cardano is a sleping giant that hasn’t wake up yet | In the cryptocurrency industry (or in any industry for that matter) there are 2 ways in which a project can go about marketing their product. I guess you could say both way’s work but there very different opinion’s on which method should be used.

One way is the super flashy and noisy way that involve huge spectacles with lot’s of money. A great example of a flashy marketing method is the tactic used by Justin Sun to market his Tron project. Sun use mystique, grandiose and hype’s to bring awareness to his project in the hopes to drive price higher.

Before we get through on it, im a little bit curious on this thing. Did you know What’s happen to LIBRA cryptocurrency coin in Crypto’s World ?

However, many people believe that marketing methods like this are very controversial, especially when they do not play out quite as expected such as the time he wanted to award a winner with a Tesla or the time he teased that there was an upcoming deal with Liverpool FC.

Cardano is a sleping giant that hasn’t wake up yet

A twisted and different story for this gigantic giant project called Cardano. It prefer the more quiet type of marketing in the hopes to spread education and let their technology speak for themselves. The team over at Cardano prefer to use a more humble method of marketing which is much in-line with their ethos of peer-reviewed research.

There are no big lights or flashy car’s or a pile of dollar in the background when Cardano start’s to market itself and this, in turn, brings a very different kind of investor to the project. We all know that money likes silence and Cardano is one of the quietest teams out there which helps to attract investors that are much more patient and are not looking for a quick turnaround in profit.

What is Cardano on cryptocurrency world perspective ?

Cardano is home to the Ada cryptocurrency, which can be used to send and receive digital fund’s. This digital cash represent’s the future of money, making possible fast, direct transfers that are guaranteed to be secure through the use of cryptography.

Hell NO!. So, what is Cardano ?

Cardano is more than just a cryptocurrency, however, it is a technological platform that will be capable of running financial applications currently used every day by individuals, organisation’s and government’s all around the world. The platform is being constructed in layers, which give the system the flexibility to be more easily maintained and allow for upgrades by way of soft fork’s.

After the settlement layer that will run Ada is complete, a separate computing layer will be built to handle smart contract’s, the digital legal agreements that will underpin future commerce and business. Cardano will also run decentralised applications, or dapps, services not controlled by any single party but instead operate on a blockchain.

Cardano cryptocurrency coin

This is the first blockchain project to be developed from a scientific philosophy, and the only one to be designed and built by a global team of leading academics and engineers. It is essential that the technology is secure, flexible and scalable for use by many millions of users. Consequently, considerable thought and care from some of the leading experts in their fields has been devoted to the project and informed design decisions.

The scientific rigour applied to mission-critical systems such as aerospace and banking has been brought to the field of cryptocurrencies, with a high assurance implementation. We believe this is the first time that this has been done.

A major innovation of Cardano is that it will balance the needs of users with those of regulators, and in doing so combine privacy with regulation. The vision for Cardano is that its new style of regulated computing will bring greater financial inclusion by providing open access for all to fair financial services. Thats Cardano guys...

Cardano is a slowpoke cryptocurrency that needs to start rushing faster

According to Reddit user DamonAndTheSea, Cardano had managed to raise around 100,000 BTC during their fundraising - no small number of Bitcoin. Furthermore, according to Charles Hoskinson, they managed to sell the majority of their funds at the top of the market. So extrapolating the maths, he believes that the team should have a MINIMUM of around $300,000,000 if they sold their coins at an average of around $3,000 per Bitcoin. In reality, it probably is MUCH higher than this conservative amount.

Cardano is a slowpoke cryptocurrency that needs to start rushing faster

This means that the team has money to keep coding like this for pretty much decades. They will be able to sustain themselves and even grow for a very long time before the project will need to look for incoming revenue.

Did you own any cryptocurrency wallet ? Take a look on this crypto talks here on Crypto Wallet - How to choose one that suits you

Conclusion on this gigantic giant called Cardano

The Cardano project is really chugging along at its own speed. It has no need to speed up development to get a product out to create revenue. Instead, they can continue along their trajectory of creating high-assured code that is research-based and peer-reviewed.

If the team can continue to work as consistently as they have been doing we can expect Cardano to continue to slowly grind higher. Furthermore, with the amount of money that they must still have to deploy and the leadership provided Hoskinson, we can expect this project to hit the top10 in 2020 and POSSIBLY even the top 5.

What do you guys think ? Is it true that Cardano is a sleping giant that hasn’t wake up yet ?.

Wednesday, August 21, 2019

What’s happen to LIBRA cryptocurrency coin in Crypto’s World ?

What’s happen to LIBRA cryptocurrency coin in Crypto’s World ? | Some folk’s said Libra is against the world and the world is against Libra. Is Facebook fail to distribute the Libra coin’s ? The struggle to eliminate Libra from the world ?

Libra is facing an arms race against it from all sides of the Fintech universe. The heated debate surrounding the coin has not been received well by state authorities, privacy experts, the crypto community, central banks, crypto news, crypto talks and also the fiat currency world.

What’s happen to LIBRA cryptocurrency coin in Crypto’s World ?

It seems, eventually as always been, Facebook seems admits Libra may not launch ...except for the private owned payment corporations that are staking a fortune into the libra basket. A fortune upon which Facebook will tether the value of libra.

Will Libra survive this wave of negativity and jump back like a King on Crypto World’s ?

Against $10 million from each of the following to corporations; PayPal, Mastercard, Stripe, Visacard, Uber, Lyft, among a pool of 28 partners to form the Libra association. In the latest quarterly report, Facebook reminds its investors that Libra may stop despite plans to launch in 2020. CNBC reports that the company recognized the significant concerns by authorities and lawmakers.

In the filing, SEC Facebook states that :
“Libra has drawn significant scrutiny from governments and regulators in multiple jurisdictions and we expect that scrutiny to continue. In addition, market acceptance of such currency is subject to significant uncertainty. As such, there can be no assurance that Libra or our associated products and services will be made available in a timely manner, or at all. We do not have significant prior experience with digital currency or Blockchain technology, which may adversely affect our ability to successfully develop and market these products and services.”

The much-lauded Libra project has faced heavy scrutiny from nations across the globe. The U.S president, Donald Trump has tweeted about it himself. Some US politicians have labeled it as “shitty-coin” or “shitcoin”. Furthermore, China and Russia have hinted at own central bank digital currency to curb the threat posed by US tech consortium. It has been a tough few months for the project as its lambasting has come heavy and continuous.

Earlier this month, US senators grilled David Marcus, the Libra project Lead. David maintained that the project will be efficient, cost-friendly and secure. However, Facebook admitted to practically data harvesting from transactions using Libra to bolster their advertising.

In short conclusion, Facebook CEO, Mark Zuckerberg has practically admitted he would be leaving the door open to address regulators, experts and constituent questions. Actually, Facebook doesn’t really have much of a choice. The giant social media company has been making headlines over all the wrong reasons. They have tarnished their own reputation on trust issues and data privacy.

On the other hand, Binance seem busy on their new project called Binance Stablecoin. Is it worth it or may faced the same fate like what happen to Facebook recently with their Libracoins ?

Binance Venus Public Blockchain Called Stablecoin

Interesting right ? Well, while you thinking of you opinion, take a break and give a thought on this things :
1. Crypto Wallet - How to choose one that suits you
2. Finding Trust and Value in BNB (Binance Coin)  -  A Noob's crypto perspective !!

Binance Venus Public Blockchain

Recently, Binance unveiled its project outline of launching a stablecoins deployment service, dubbed ‘Venus Public Blockchain’. The project aims to develop a global powerhouse for marketing stable currencies. A chinese publication, Zendesk, referred to the Venus blockchain as the ‘regional analog’ of Facebook’s libra coin. Binance announced the blockchain plans on August 19.

To realise the project’s vision, Binance is planning to team up with leading global enterprises in the blockchain industry. Venus Public Blockchain will enable users to issue upcoming stable currencies on the network; at which rate businesses will back to fiat currency, or valuable hard assets such as gold or oil. The exchange added that key clients will be volatile national currencies and emerging economies.

Binance New Project Called Stablecoins

Binance has invited interest business partners and government agencies that are willing to participate in the deployment of Venus Blockchain. In fact, Binance has already set in place a Venus Implementation on its public decentralized networks; coupled with international transfers on the Binance Chain Blockchain. The exchange has also issued several stablecoins, for instance BitcoinBrand (BTCB) and BGBP Stable Coin (BGBP). Binance has tethered the value of Bitcoin Brand (BTCB) to the rate of Bitcoin; while the second coin is tethered to the British Pound.

Well, different person have different thought. What do you think, mind sharing you thought about this crypto talks news here What’s happen to LIBRA cryptocurrency coin in Crypto’s World ?

Monday, August 19, 2019

Finding Trust and Value in BNB (Binance Coin)  -  A Noob's crypto perspective !!

Finding Trust and Value in BNB (Binance Coin)  -  A Noob's crypto perspective !! | You may have come across various charts plotting the price of BNB, how good or bad it can be. The language of charts can be decoded by a few, and I will put it as a mere 20% of the entire crypto crowd. Rest 80%, may understand a little or almost nothing about the chart language.

These so-called Noobs, arrive at the value of the coin or project based on pure perception, which is shaped by various positive and negative factors he sees or experience in his crypto journey.

Finding Trust and Value in BNB (Binance Coin)  -  A Noob's crypto perspective !!

Typically, a Noob's buying and selling instinct follows the pattern of a herd mentality. This 80%, rather than depending upon charts or reading or understanding the tech behind the project, is easily swayed by a piece of positive crypto news and goes into panic mode by a slight trigger of negative news.

To understand the value of BNB, it is essential to understand the role of Binance and its various ecosystems. In this article, I am trying to find the value of BNB from a noob perceptive and how Binance and BNB have gained a stable place in the minds of most of the newcomers in the crypto sphere.

Binance Exchange  - The Value Creator

In the beginning, there was Mt.Gox, and then the infamous hack happened. From the ashes of Mt.Gox, new exchanges like Coinbase, Kraken, Bittrex and Poloniex came into existence. Till 2017, a majority of trade happened in these exchanges. Then Binance happened.

Binance began its operations in 2017 by raising $15,000,000 from the market. This was done via the Initial Coin Offering (ICO) route, where BNB token was offered at the rate of $0.1. This was the first time an exchange came up with the idea of Exchange token and the market loved it.

Binance Exchange  - The Value Creator - Evolution of Binance

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Within the first three months of the launch, Binance was propelled to the top 3 cryptocurrencies exchange platform in the world. It didn’t stop there. By constant innovation and providing good trading experience, Binance became the world’s largest cryptocurrency exchange desk (by trading volume) by April 2018 - Bitcoin, Ethereum, Litecoin ..etc.

The success of Binance in such short time was attributed to various factors, some of them were :
💠 Binance has created an exchange engine that could process 1.4 MTPS (million transactions per second). This was a new and pleasant experience as in those time, most of the exchange was slow and complacent when it came to platform performance.
💠 Joining and Trading in Binance is relatively easy, as it just needs a working email. KYC is not made mandatory unless you want to participate in an IEO or to raise your daily withdrawal limits( to 100 BTC).
💠Binance has one of the best customer service team in the industry. All queries are attended with the set timeframe and response is instant. In case of an emergency, you will be provided real-time support, which is rare in this industry.
💠Unlike other exchanges which were slow in listing new projects or altcoins, Binance understood the pulse of the market and gave the customer more choice by listing a wide variety of projects. This made the exchange an instant success with the altcoin hunters. ( Fun fact: During the bull run, Binance even had to stop issuing new accounts due to the customer overloads.).
💠Binance has one of the best security infrastructures in the market. Apart from the 7000 BTC hack, Binance’s security has stood the test of time. Currently, Binance is the only exchange which offers users the protection of Hardware Security Key. It also uses advanced AI, tracks unusual buying or selling patterns, blockchain forensics etc. to protect the users. Apart from all the above Binance has set up a SAFU fund to offer protection to its users and their funds in extreme cases.
💠The greatest strength of Binance is its neat and simple interface. For a newcomer, trading in binance is a cakewalk. Binance also provides the user with multilanguage support (up to 15 languages), which helps the non-English users to use the platform with ease. You can read more about Binance new features here | Binance-20-Trading-Evolved-9-Features-to-Explore-with-the-Binancecom-Upgrade
💠 Binance was quick to shift its base to “The Blockchain Island” Malta which has more friendly regulations. This helped Binance to start offering fiat to a cryptocurrency exchange and has plans to launch more country-specific exchanges to offer fiat to crypto services.
💠Apart from being a Top Volume Centralized exchange, recently Binance has evolved into a “A to Z” blockchain ecosystem by launching its own blockchain termed as Binance Chain and a decentralized exchange termed as “Dex” which did more volume in the first couple of hours than the “second biggest DEX did in an entire day

How to use BINANCE Exchange - Noob’s Friendly Beginners Guide

Changpeng Zhao [CZ]  —  The Wizard of OZ

How many of you know the name of the CEO of OKex, Bittrex, Kraken or even Coinbase. The high chances are that you may not even know their names. But if you ask anyone who is the CEO of Binance, a majority of them will tell the name of CZ.

Apart from all the technical advantages and other factors, what sets Binance apart is the leadership of CZ. Rarely you may come across a CEO who keeps interacting with the community as CZ do, especially during the bad times.

Changpeng Zhao [CZ]  —  The Wizard of OZ

Be it a piece of good news or a piece of bad news, you will hear it from CZ first. This regular and open communication helps to build trust among the community and make you feel that he is just a regular guy and is one among you. From my perspective, what sets CZ apart from other CEO’s in the same industry is his crisis management skills.

During a crisis, CZ goes into overdrive. He starts to update the community more about the developments via his official twitter handle as well as various Binance official channels. This helps to stem any possible negative rumours or FUD that can arise from that situation. This was evident in two major instances.

The first one when Binance went down for 32 hours of maintenance in Feb 2018 and the second one was during the 7000 BTC hack of May 2019. For any exchange, these kinds of the doomsday event were enough to knock them out of business. But Binance survived both, mainly due to the transparency as well as open communication from CZ side which helped to boost the trust of the community.

As per CZ :
“We always aim to maintain constant and transparent communication with our community during a crisis. We believe this to be a strong contributing factor to the support we received from the community in return.”

A Short History - BNB - Binance Coins

Binance Coin(BNB) is the proprietary coin of Binance Exchange which was launched in July 2017 as an ERC20 token. BNB was first offered as an ICO which raised over $15 million. In the initial days, the main purpose of BNB was to act as a Utility token providing its holders with the option to use BNB to pay various fees and trading discount in Binance Platform.

This concept was new at that time as most of the users were looking for an option to get a trade discount. Unlike other ICO’s of that time, BNB was able to offer its users a clear use case and an instant benefit for holding BNB. Once Binance became an immediate hit, the demand for BNB skyrocketed as most of the users started to buy BNB to get trade discounts.

From a performance perspective, even in the bear market of 2018–19 BNB was one among the few coins to broke both the ATH value in terms of BTC as well as USD. Rallying from around $6 at the beginning of the year to $39.57 in this year alone this performance helped a lot number of investors to take note of the project as it was performing irrespective of the market conditions.

Binance team could have stopped innovating as Binance was almost becoming a monopoly in crypto trading, and BNB token was performing as well. Maybe Binance has learned from the past airdrop crypto players and has seen what happened to them when a new player with more resources and ideas enter and capture the market. So they started to add more value to BNB with new strategies.

Binance Coins - Binance Chains

Even though BNB was envisioned as a trade discount token, it silent evolved into a utility token which offers its holders multiple benefits.

Currently, use cases for Binance Coin are around120 categorized into three: useBNB, buyBNB, and storeBNB. Right from paying a flight ticket to buying in online BNB has covered it all.

Closing Thought on BNB Binance Coins

In the current situation, Binance is the most trusted Exchange in case of quality projects listed as well as with trading volume. While most of the exchanges took a back seat in the ongoing bear market, Binance took the initiate to keep building as well as push ahead in terms of product offerings as well as various other initiatives.

It should also be noted that irrespective of suffering a massive 7000 hack and a KYC leak FUD, trust of the customer as well as projects in Binance has never come down. As Binance and its ecosystem grow, so is BNB. Even in a bear market, it has given its investors good returns in terms of ROI as well as utility.

To end this article, I would like to quote Travis Kling, as he said in a recent podcast episode with Peter McCormack :

“I tip my hat to CEO Changpeng Zhao in a lot of ways. The guy is relentlessly trying to present a compelling case to hold BNB, right? At every turn, [there’s something]. They have fiat onramps in Argentina, but you need BNB. Oh, you need BNB for discounted trading fees. There’s this Launchpad IEO thing, which is literally free money for investors, but you need to hold BNB. He’s about to release margin, and I’m sure you need to hold BNB if you want to use margin on Binance. You have all these little gimmicks [that give it value].”

This article Finding Trust and Value in BNB (Binance Coin)  -  A Noob's crypto perspective !! is not intended as investment nor financial advice. It’s just an opinion on crypto news and crypto talk’s that rising drastically nowaday’s over the world.

Crypto Wallet - How to choose one that suits you

Crypto Wallet - How to choose one that suits you | If you're walking around with dollars in your pocket, chances that you keep them nicely in your wallet is hundred percent (100%) especially if it's a BIG CASH. If you're not accustomed to carrying around cash, then you probably keep your dollars stored at the bank and have a card in your wallet to spend those dollars.

The same idea applies to cryptocurrencies. If you're going to hold digital currency, for example, Bitcoin Cash or Bat Token Airdrop, you're going to need a wallet to store, send and receive your coins. Just like traditional methods of storing money, crypto wallets exist in different forms with different purposes.

Crypto Wallet - How to choose one that suits you

Some wallets can simply be a software wallet running on your mobile device or desktop computer. Others exist as a hardware wallet, a flash drive or even just a piece of paper. Some digital currencies have their own dedicated trusted wallets while others can support a multitude of different crypto’s in bulk.

If you're going to be buying, selling or trading cryptocurrencies, you will need at least one digital wallet for your assets. Owners also generally hold most of the responsibility for their own wallet, meaning that owners can potentially lose their wallet and cryptocurrencies with no recourse. So it's very important to understand how's they work.

What Is Cryptocurrency Wallet ?

Before getting too deep into the different types of wallets and which one is right for you, it’s important to understand what a crypto wallet is and how they work.

Let’s use Bitcoin as an easy example. Bitcoin transactions are recorded on the Bitcoin blockchain ledger, which tracks all of the wallet addresses, balances and transactions for Bitcoin. You can think of the blockchain as a huge database or spreadsheet that is shared with everyone on the Bitcoin network. Anyone with the updated blockchain ledger can review balances and transaction history associated with a specific wallet address.

If you want to send some Bitcoin from one wallet address to another, you need the private key associated with that address. This is because the crypto wallet doesn’t actually store the Bitcoin. Instead, the wallet stores the private key associated with the address. So if you have access to the wallet, you have the private key and can send Bitcoin from that address.

So let’s assume you own one Bitcoin and have it stored in a wallet. The wallet holds the private key to your wallet address that has the one Bitcoin recorded on the blockchain ledger. When you go to transfer the one Bitcoin, the wallet simply gives you access to the private key, essentially unlocking the Bitcoin in order to be sent to another wallet address.

The wallet address is the public key that is available for anyone to see and send cryptocurrency to. It’s basically the account number for the wallet. If someone wants to send you Bitcoin, they use your public key or public address.

So the public key is something that anyone can access, while the private key is the top secret number that unlocks all the crypto assets in your wallet. It’s incredibly important to keep the private key safe, secure and hidden. Anyone with access to the private key has access to your cryptocurrency.

Two (2) Type’s of Cryptocurrency Wallet, Hot vs Cold

Cryptocurrency wallets are usually either referred to as ‘hot’ or ‘cold’. The basic distinction between the two is that hot wallets are connected to the Internet, while cold wallets are kept offline. Therefore, funds stored in a hot wallet are much more accessible in comparison to funds in a cold wallet. This has pros and cons.

When you are evaluating hot wallet vs cold wallet, you need to consider the balance of accessibility and security that you require. It’s worth keeping in mind that you don’t have to definitively choose either a hot wallet or a cold wallet solution, you can store a percentage of your funds in each to mitigate risk while maintaining accessibility as required.

Two (2) Type’s of Cryptocurrency Wallet, Hot vs Cold

Hot wallets are more common, but they are higher risk. There are a number of popular hot wallets for example, the Ethereum network which work on your web browser, such as MyEtherWallet. If you download a wallet to your desktop or your phone, that is also a hot wallet because it is connected to the internet.

Most exchanges utilize hot wallets at least to some degree. This allows for fast access to user funds. However, it also means if you are storing your funds on an exchange with these practices, those funds could be at risk. The wallets are connected to the Internet, so they are always being targeted by malicious individuals and hackers.

For any cryptocurrency assets that you don’t need instant access to, it’s best to store them offline in a cold wallet. Maintaining high levels of security is key in crypto.

There are different choices of cold wallet, such as a hardware wallet or a paper wallet. A hardware wallet is an external device like a Ledger Nano S or Trezor that stores your private keys. You must push a button to complete a transaction, so hackers cannot take control. Hardware wallet access is locked behind a password or pin. In general, the funds stored on a hardware wallet are fairly accessible, as long as you have access to the wallet.

A paper wallet is a print out of the private key and pubic address on a sheet of paper or another material. This is generally regarded as a risky form of cold storage, because you can lose the paper or someone could easily find it and access your funds.

Another Type’s of Crypto Wallet

Besides the hot and cold, or online and offline wallets, there are several various types of wallets to choose from for your cryptocurrencies.

Desktop Wallet
Desktop wallets are hot wallets. The wallet is software that’s downloaded and installed on your computer and should work for either Windows, Mac or Linux. Desktop wallets are pretty secure for hot wallets, but of course, it’s only as secure as the computer you host the wallet on. If your computer has malware and viruses running in the background, or there is no password to protect anyone from accessing it, then the wallet might be easily compromised.
Mobile Wallet
Mobile wallets are hot wallets. This wallet is an app you download from the app store on your iPhone, Android or Windows device. These mobile app wallets are pretty similar to a desktop wallet and many crypto wallet providers will offer both desktop and mobile versions. Mobile wallets are more convenient than desktop wallets because you have access to send or transfer crypto on the go from your mobile device.
Cloud Wallet
Cloud wallets are hot wallets. This wallet stores the private key online in a cloud-as-a-service solution. This allows users to access their crypto wallet from any computing device, which makes this wallet super convenient. However, just as with the other hot wallets, your private keys are stored online and controlled by a third party, making them at more risk of hacking and online theft.
Hardware Wallet
Hardware wallets are cold wallets. These types of wallets are small physical hardware devices that store the private key to access your cryptocurrency. Hardware wallets usually plug into your computer’s USB. Using a simple internet browser allows you to access the information stored on the wallet and send or transfer crypto. Hardware wallets are much less convenient for everyday transactions, or payments made on the fly. However, they provide much more security against hacking or theft. You just need to make sure you keep the hardware device in a safe spot.
Paper Wallet
Paper wallets are cold wallets. It might sound rudimentary, but paper wallets can be effective. A paper wallet is simply a written document with your public and private keys on it. Instead of relying on software, a mobile app, or a flash drive to store your private key information, you can write it down on a piece of paper so no one else can access it. This is commonly referred to as ‘cold storage,’ as the private key is offline on the piece of paper. But again, this method is only secure if you properly store the paper and keep it safe.
Exchange Wallet
Exchange wallets are hot wallets. Exchange wallets are how you keep your cryptocurrency on a crypto exchange in order to trade between coins. You can have an exchange wallet on either a fiat-crypto exchange or a crypto to crypto exchange. In order to access your crypto exchange wallet, you would log in to the exchange and access the funds. They make your public key and wallet address available so you can send funds to the wallet and trade cryptos on their exchange. The exchange hosts the private key for you so you can access your cryptocurrency and trade or withdraw coins.

However, that means your private keys are in the hands of the exchange, and they have the responsibility for the safety of your cryptocurrency. It’s usually a good idea to only keep a small amount of crypto on exchange wallets that you plan to trade. Otherwise, if the exchange is hacked, your cryptocurrency could be stolen with no recourse available.

Cryptocurrencies Wallet Positively Anonymous or Pseudonymous (FILEminimizer)

Take a break’s and go through on this brilliant’s BNB Binance Coins Talks that might oepn up you mind expecially on buying and selling crypto also trading altcoin on Binance | Finding Trust and Value in BNB (Binance Coin)  -  A Noob's crypto perspective !!

Are Cryptocurrencies Wallet Positively Anonymous or Pseudonymous ?

Many people are attracted to cryptocurrencies because of the private nature of the blockchain and the anonymity they can potentially provide. So that begs the question regarding crypto wallets, are they also anonymous?

Wallets themselves are considered pseudonymous. They are not inherently connected to the user’s identity. Your name, birthdate, and address won’t be found in your crypto wallet. However, simple data like your wallet address can be traced back to your identity. With transactions being publicly stored on the blockchain, someone could potentially link your wallet and financial transactions back to you.

Certain cryptocurrencies aim to give users full privacy and anonymity. Monero is a popular example of a cryptocurrency that includes several features to hide the identity of senders and receivers, as well as mask the transaction amount.

How To Keep You Crypto Wallet Safe ?

Along with the many benefits associated with cryptocurrencies comes the responsibility of managing your own funds and money. This means the privacy and security of your currency and wallet are ultimately in your hands.

Many people put their money in the bank rather than under the mattress because they trust the security of the bank over the security of their home. And this makes sense when banks have a history of good security and insured funds.

On top of that, most people keep their money in digital form by carrying around credit and debit cards. This gives them the convenience of having access to their funds with a single card they can keep in their wallet. This opens up obvious security risks as most people have had the scare of losing their card or having their card account hacked.

Keeping your cryptocurrency safe follows the same principles. You can achieve ultimate security of your crypto at the expense of having it available on hand for easy transactions. You can also have your crypto accessible through multiple devices and platforms to make everyday purchases but at the cost of properly securing your funds.

With the security vs. convenience tension in mind, let’s discuss some of the best ways to keep your wallet, and thus your cryptocurrency, safe and secure.

Create Backups of Your Wallet
Creating multiple backup copies of your software wallet protects you from the worst case scenario, losing access to your wallet and currency. You never know when your computer software will fail, leaving you without access to the wallet and private key to unlock your crypto. Your computer or device might also be lost or stolen, meaning you could again lose access to your wallet and funds.

Different software wallets support different backup methods. Each wallet’s website should have a dedicated section to help guide you through creating a backup wallet and protect your currency.

Don’t Keep Too Much Currency On an Exchange
We’ve discussed the dangers of keeping your crypto on an exchange and in their hosted wallets. But it’s worth repeating and covering here. Even though Coinbase or GDAX might seem like viable options, experienced crypto holders will agree that best practice is to get your currency off the exchange as soon as possible.

Over the past several years as Bitcoin has gained popularity, there are multiple accounts of exchanges being hacked, shut down, or simply disappearing… leaving users and customers bewildered and without their coins.

Best practice is to only keep the amount of cryptocurrency you are actively trading on the exchange. If you are a short-term trader, you need to keep some amount of coins on the exchange to trade, but anything past that is an unnecessary risk.

Use two-factor Authentication Whenever Possible
Adding extra security layers is just simply data and computer security best practice. Many companies in the cryptocurrency space understand the push for maximum security, and in response have allowed or forced users to enable two-factor authentication techniques. This can include a security code sent to your mobile device through SMS message, a time-based Google authentication code, or a special PIN number.

If the crypto wallet allows you to enable two-factor authentication, do it and use it. Protect your account with the best techniques. And if the wallet doesn’t offer two-factor authentication or an extra layer of authentication security, that should be a red flag and you should be concerned about their overall security practices.

On top of two-factor authentication, it’s worth noting that you should use a different strong password for each online account you have, especially your crypto wallets, exchanges and other related accounts. You don’t want a hacker that compromised your Facebook or email account to be able to access your crypto wallet and steal your funds.

Update Your Wallet Software Regularly
Software wallets frequently find bugs or security holes and fix the code in an update. Users should be aware of updates sent out by the wallet’s software or development team and update the wallet whenever an update is released or sent. Some companies don’t actively send out notifications when an update is available, so it’s best practice to periodically check for updated versions. Some companies will announce updates through social media, along with other important information. It’s a good idea to find and follow the company on those platforms.

Cryptocurrency wallets are a big deal and not something to take lightly. Most people buy nice physical wallets to store their cash and credit cards, treat them carefully, and basically protect them with their lives. They understand the importance of keeping their wallet out of the wrong hands and the dangers that could happen if it does end up lost or stolen.

However, crypto wallets are a bit more involved and there are many more factors to consider than size, fabric, and design of a wallet in your back pocket. Instead, you need to take note of the privacy and security features, the cryptos supported by the wallet’s software, how the private key is handled, how users can access the wallet, and how user-friendly is the wallet.

When buying Bitcoin for the first time, it’s common for people to sign up with Coinbase, plug in their credit card, purchase some Bitcoin, then leave it there and wait. The next step for users should be setting up a wallet and getting familiar with the process of sending and receiving Bitcoin or other airdrop altcoin. You want to make sure you understand the various features and shortcomings of your wallet, and if you might need multiple wallets to support your crypto activities.

The key questions above should help guide you to understanding your crypto wallet needs and put you in a position to review the various wallet options, as well as research others that are available. Getting a wallet setup might not sound like the most exciting task and you’re probably eager to start trading more coins than Bitcoin. But getting the fundamentals setup, like your first crypto wallet, are important steps that can’t be ignored if you want to become a successful trader and investor in the world of cryptocurrency.

That’s it, hope all the explanation on Crypto Wallet - How to choose one that suits you help you a little bit understanding expecially newbie who newly jump on this creepy and evil crypto world’s.