Advertisements


Friday, September 27, 2019

3 Things to Understand about Keeping Your Bitcoins Safe.


Many people believe that Bitcoins come with the ultimate in online security. In truth, however, it's possible to lose your Bitcoins, or have them stolen. This doesn't mean that they are unsafe. It only means that as with cash, jewelry or other valuables, you need to be careful about their security.


Secrecy: The first rule of cryptocurrency security


When you buy a Bitcoin, you get a private key passphrase that helps you access the coin. It's never a good idea to share your private key with anyone. If you do it, chances are that you will lose control of the key, and the Bitcoin that it represents.
Using a third-party Bitcoin wallet can make keeping your money much simpler. Only two parties know your private key then -- you, and the company running the wallet. While a wallet offers convenience, there are risks involved there, as well. The company running the wallet could take control of your Bitcoins if they chose to do so. If you're using such a wallet, you need to make sure that the company is trustworthy.
If you own a large number of Bitcoins, using a hardware wallet is much better idea. Your money is bound to stay safer then.


You must be careful never to lose your Bitcoins


If you lose your private key for any reason, you lose access to your Bitcoins along with it. There have been numerous stories about such unfortunate incidents reported in the news over the years. In one case, a man in Britain accidentally threw away an old hard drive that contained private keys for $10 million worth of Bitcoins. He was never able to recover his coins. It's important to make multiple backup copies of your private keys, both online and off-line.


Make sure that you don't fall for Bitcoin scams


Just as online phishing scams can end up in loss of access to your bank account and all the money in it, such scams aimed at Bitcoin holdings can put you at risk, as well. It's important to keep all standard safety practices in mind when you deal with your Bitcoin holdings.
Other scams exist. Ponzi schemes, for instance, have you invest your Bitcoins in return for large returns. After making good on their promise for a few months, the operators of these schemes make off with your coins.


A few additional tips to help you with Bitcoin security


Bitcoin transactions cannot be reversed. If you make a mistake and send your Bitcoin to the wrong address, for instance, you will never be able to get your coins back. It's important to make sure that the address you send to is correct.
It is never a good idea to type out a Bitcoin address by hand. These addresses tend to be long and complex, and mistakes can occur. It's always a good idea to copy and paste, or, alternatively, use a QR code.
Since transactions cannot be reversed, it's important to ensure that the parties that you deal with are trustworthy. If you aren't sure, it's always possible to use an escrow service.
With small transactions, one confirmation this usually all the it takes. For large sums, however, it's a good idea to wait for multiple confirmations. It can take six confirmations to be certain that a transaction has gone through.
Keeping your investment in Bitcoins safe can take some understanding of how the technology works. With a little basic knowledge in place, you're in a much better position to stay safe.


Sunday, September 22, 2019

Boom for bitcoin!

Bitcoin (BTC) has eked out moderate gains amid the U.S. Federal Reserve’s announcement of its first rate cut in over a decade.

The top cryptocurrency by market value is currently trading at $9,950 on Bitstamp, representing a 2 percent gain on a 24-hour basis.

The Federal Reserve (Fed) on Wednesday said it will lower interest rates by 0.25 percent to cushion the economy from a global slowdown and trade tensions. That was the first U.S. interest rate cut since the great financial crisis of 2008, and indeed since the creation of bitcoin in 2009.
Read more...




Thursday, September 19, 2019

Use Bitcoin Everywhere with a Visa Debit Card


Bitcoin is growing faster than most merchants can keep up with right now. This is unfortunate
since it has so much potential in becoming one of the most valuable pieces of currency. Since
most of us can't hurry up the acceptance of Bitcoins by all merchants, we'll have to find another
way to use it: debit cards.
Debit cards allow you to use your Bitcoins without any hassle. You simply deposit your Bitcoins into
an account, and it will convert to dollars. The amount of dollars you receive for the Bitcoins you
deposit depends on the market rate, so you will see the amount of dollars you have to spend
fluctuate.
When you want to spend some of your Bitcoins, all you have to do is use your debit card just as
you use the others in your wallet. Swipe, enter a pin, and you're set with your purchase. It's that
easy.
When you're done, you can go into the app that most debit card providers have available to see
what your balance is after the purchase. You can usually check your balance online as well.
Are you excited about this revolutionary way to use Bitcoins? Great, so let's take a look at some
of the most popular debit card companies today.


Shift

Shift is one of the world's most popular visa card companies for Bitcoins. The service connects
with Coinbase. As a new member of Shift, you'll need to give it authority to use your
Coinbase account. This is how it will access your Bitcoins, so it can convert them to dollars for
you.
What You Should Know About Shift:
• The great thing about Shift is that they use VISA, so it's the most widely accepted debit/credit
card worldwide.
• You do have to wait about a week to get your card in the mail. This can be a problem for some
of you who wanted to get one sooner.
• Fees are associated with using Shift. You can access those fees on their website';s FAQ section.
All in all, Shift is one of the easiest ones you can use because of its connectivity with Coinbase.


Xapo

Xapo works a little differently from Shift. Instead of connecting with Coinbase, it has its own.
You can use their Xapo wallets to help you manage your Bitcoins.
You will have a main wallet with Xapo. This is the one they suggest you should use for your
Bitcoin usage. For Bitcoins you want to save, they suggest you keep them in separate wallet. This
way you don't end up using all of your Bitcoins without realizing it.

What You Should Know About Xapo:
• You will receive a VISA debit card, which is accepted worldwide.
• You can convert Bitcoins to USD, EUR, and GBP.
• It can take up to 2 weeks to receive your debit card if you live in Europe, and 3 weeks if you
live outside of it. Expedited service is available and carries a 7 day delivery.
Xapo is a good solution if you're looking to find a debit card company that will take care of all of
your Bitcoin transactions.


The Future of Bitcoin Debit Cards

The Bitcoin industry is in dire need of trusted debit card companies. As the virtual currency
gains much more traction and attention from everyone, more people will want to own them and
use them everywhere. This is why people like Ed Boyle has found a solution to take Bitcoin
spending to a higher, more secure level.
Ed Boyle, CEO of Blade, used to work for American Express. He';s now the founder of one of the
best debit card systems. His platform works with a custom API, and connects banks with Bitcoin
companies. Through his platform, banks understand the relationship between the virtual
currency's value and the dollar.
Blade provides Bitcoin businesses to white label their services. This offers a great opportunity
for entrepreneurs and companies who want to get into the debit card business.
Debit cards are making it possible for everyone everywhere to use Bitcoins. Consider using it for
yourself or offering it to others to bring more prosperity to the Bitcoin market.