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Altcoins Bitcoin Buy Bitcoin Guide Introduction

Coinbase Review – Controversy and Is Coinbase Safe?

coinbase-website

In this post today, you will get everything you need to know about Coinbase. If you have been wandering in the new interesting world of cryptocurrency, you must have come about Coinbase. This is a company dedicated to but not limited to cryptocurrency.

I will start off by generally describing what it is before doing a Coinbase review. This is a limited company that focuses mainly on the digital asset ventures especially the cryptocurrencies. Coinbase majorly focuses on Bitcoin and its products but has in the recent years started incorporating the other altcoins such as Ethereum and Litecoin. Coinbase acts as a digital broker in the simplest explanation of its services. This company is also backed by the New York Stocks Exchange.

coinbase-reviewCoinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam who saw a middleman opportunity after Bitcoin started gaining market since its introduction in 2009. Coinbase first started off by buying and selling Bitcoins through Bank Transfers. It then extended its services to include the vault system for the Bitcoins. Over the years, it has grown in its users to about 7 million at the time of writing this article.

Coinbase has been the place to go especially if you are looking to purchase your first Bitcoin. This is because the company has invested heavily in making better algorithms and designing user-friendly interface that takes care of the extensive technicalities in owning any cryptocurrency. Also, they have partnered with many banks and offer payment services to over 32 countries worldwide.

What you need to know about Coinbase?

As was stated above, Coinbase has partnered with many banks around the world so as to enable the purchasing and selling of Bitcoins in the local currency. Also, people have many payment options ranging from EFT, SWIFT SEPA, and Ach. Also, they have introduced PayPal and Debit and Credit cards. Of course, these are Visa and MasterCard supported.

Coinbase mainly focuses on the purchases and sales of Bitcoins. However, it also performs an auxiliary function of storage. That is, they have wallets that you can rent out like a ware house to store your Bitcoin stash. You also store Ethereum and Litecoin. Your stash is safely kept and is guaranteed as they have purchases an insurance cover for their storage vaults.

How Coinbase works?

The most important thing to know is that Coinbase has a strong backing from the major financial industry movers including The New York Stocks Exchange. This means that the virtual currency business is fast becoming a major profitable activity in the financial industry. The business is licensed by the New York State Department of Financial Services to continue its operations. That plus the major banks that have invested more than the US $100 million into the company should be telling you that they have something here.

Coinbase operates more like a bank than a broker. This is so as the company was the first to receive the virtual currency operation license. This is also because of major integration with the major Banks it is operating with has resulted in the adoption of most Banking laws. For this reason, Coinbase requires one to fill out an extensive personal information and monitor the accounts to prevent money laundering. This should not water down your spirit as their services are secure and guaranteed which is hard to come by in virtual currency.

coinbase-review

Is Coinbase safe?

Before venturing into Coinbase, you need to understand its inner working. Is Coinbase safe? This is the first question most people ask me. The answer is yes. Coinbase is very safe. As was mentioned in the above post, the company has invested heavily in insuring their vaults to minimize their losses. Also is the fact that the company is integrated with the major banking industries that also protect their investments.

Having received funds to the tune of US $ 75 million and above over the years since its conception, Coinbase goes, without doubt, one of the most secure virtual currency brokers in the world. This is also factoring in the investment they have received from the Japanese banks and securities exchange. As a rule of thumb, the most secure trader is often the most financed one in the market, and Coinbase is one.

How safe is Coinbase? Very safe. It has been received well in over 30 countries excluding China where it can operate freely without many hiccups. As was stated earlier and this should be in your head by now, Coinbase follows almost similar protocols with the banking industry. For this reason, any operation is well monitored to eliminate the possibilities of losses. This is also the reason why the company has been able to secure credits cards with ease.

Also, the company website has a user-friendly user interface that reduces the chances of making any errors while trading. I repeat again, this is the best place to go especially for the newcomers. The transfer fees are negligible and one can exchange Bitcoins to 159 different fiat currencies. The number of countries in the world. As you see, Coinbase is very safe.

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Bitcoin Guide Introduction

What is the Darknet? A beginner’s guide to Darknet

What-is-darkweb

The Darknet – a deep mysterious hidden internet where you can buy and sell all kinds of illegal goods anonymously and with Bitcoin. At least that’s what most people think of it as. While the Darknet does indeed serve a clandestine marketplace for illicit products, it’s so much more than that.

In this article, we go through the basics of the Darknet; – what it is, why it was created, and what it’s used for now. Keep reading this practical guide to the Darknet and find out how you can access the Darknet in minutes.

what-is-dark-web

A “dark net” is a general term for any network that is not the “surface web” or “clear net”. All websites are incognito, non-search engine indexible, and can only be accessed with a specific setup and using non-standard communications protocols and ports. And it isn’t just used for illegal activity – a lot of the Darknet are forums, blogs, essays, etc. Anyone who wants their information to be private and non-accessible to the majority of the public can place it on the Darknet with the right tools.

Terminology: Ever heard of the Dark Web or the Deep Web? Since 2015, these terms have been synonymous with Darknet. While some say there should be a distinction, most people will use them interchangeably.

The TOR

The TOR (The Onion Router) network is perhaps the most popular privacy network that is a part of the Darknet. TOR software is free, and enables anonymous communication through an onion routing protocol, much like HTTP works on the internet. It was originally developed by the government to be used for internal anonymous communications, until it went public and became part of the Darknet.

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Bitcoin Earn Bitcoins Guide Invest

Top 5 Bitcoin Investment Sites – Invest Bitcoins for 20% ROI

As bitcoins have become more popular and the market volatility has dropped, the profit you can make from simply buying and holding bitcoins has dropped significantly.

Luckily, there is another way to make money with bitcoin: Peer to peer lending. Since this method is less traditional than many other methods, you can generate great returns on your investment with just a bit of research and smart decision making.

Keep reading to find out how you can achieve a 20% ROI each year on your bitcoin investment.

Bitcoin-P2P-lending

Disclaimer: With great reward comes great risk. Do your research and understand what you’re doing before you go out and invest all of your savings in bitcoin. Making smart decisions with your money is the safest and best way to guarantee a great investing experience and profit.

Bitcoin Investment – Best Practices

Before we go into the top 5 bitcoin investment sites, let’s cover how you can safely and securely invest your money. Since most bitcoin loans offer a high interest rate, it’s more important to verify the credibility of the person you’re loaning to rather than looking solely at the interest rate.

After setting up an account, there are several elements you should look for before choosing someone to loan your bitcoins to:

  • Solid credentials
  • Member of the site for a sufficient period of time
  • Reputation and no negative reviews
  • Specific borrower interactions

Now that you’ve confirmed the reliability and credibility of the borrower, you can finally look into the interest rate of the investment. A few tips for lending money:

  • Find loans that are almost 100% funded. These are likely more reliable.
  • Look for people that have already repaid some earlier loans.
  • Look for projects with very specific descriptions.

bitcoin-peer-to-peer-lending-infographic

Now that you know how to identify a reliable person to loan money to; what kind of loans you should look out for.

Here are the top 5 investment sites for investing your bitcoins:

*Note: We didn’t include the most popular site BTCJam because they’re shutting down lending on their site.

Site 1: BTCPop.com

BTCPop is the first site we cover that allows you to lend to your peers using cryptocurrency technology. Their lending site is based solely on reputation; not credit score, which has its own benefits and drawbacks. Follow the steps outlined above and you can minimize the risk of loaning out your money on this site.

BTCPop also allows you to exchange your money into different cryptocurrencies, move your money into large pools, and invest in startups that are using the site.

Site 2: BitLendingClub.com

BitLendingClub is another bitcoin lending site that has over 2073 borrowers, 9963 loans funded totaling over $7,963,687, and over 4718 active investors. In a few simple steps, you can sign up, get verified, and submit a loan request. Or, you can help fund an active loan on the site.

Site 3: BitBond.com

BitBond is the third bitcoin lending site that we suggest taking a look at. They offer profitable interest rates for individual investors, as well as loans for small businesses. BitBond successfully leverages bitcoin as a technology and payment network to create the first global market for small business loans or fixed income loans. With digital currency, BitBond makes loaning out to small business quicker and easier because they can bypass the slowness and expense of traditional payment transactions.

Site 4: Tether.to

Tether is a more recently created company that is built upon open blockchain technologies. It’s 100% backed, offers widespread integration, and is transparent and secure with all of its transactions.

Tether offers solutions for blockchain companies, exchanges, and the individual trader; making it a very versatile solution for any number of exchanges. It also allows you to make transactions with several different cryptocurrencies, so you’re not limited to bitcoin.

Site 5: CoinStaker.com

Last but not least is CoinStaker. They offer a nice overview of how P2P bitcoin lending can work, and allow you to also gamble, trade, monitor, and buy your bitcoins.

If you choose P2P bitcoin lending as a way to earn more bitcoin, do some thorough research on each of these sites before making a final decision. Peer to peer lending can be a great way to earn interest on your bitcoin, if you play it safe and make educated decisions about who you lend to. Be safe and enjoy lending.

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Bitcoin Guide Introduction

Creating A Bitcoin Wallet Backup – Bitcoin for Beginners

A wаllеt backup рrоtесtѕ уоur bitcoins аgаinѕt computer or ѕоftwаrе fаilurе. It mау also hеlр уоu rеtriеvе уоur funds аftеr уоur dеviсе wаѕ ѕtоlеn or lоѕt. There are different wауѕ tо backup a Bitсоin wаllеt. Diffеrеnt ѕоftwаrе ѕuрроrtѕ diffеrеnt mеthоdѕ. Make ѕurе уоu’rе familiar with уоur wаllеt bеfоrе lоаding it with bitсоinѕ. If you lоѕе thе bасkuр аnd саn’t ассеѕѕ your wallet for some reasons, уоur bitcoins аrе реrmаnеntlу gone!

Whеn уоu first сrеаtе a bitcoin wallet bасkuр оf уоur wаllеt, the backup соntаinѕ аll thе ‘old’ kеуѕ uѕеd in transactions in аdditiоn tо thе kеуѕ thаt hаvе not bееn uѕеd (100 bу dеfаult). Whеn you реrfоrm a trаnѕасtiоn, уоu thеn have only 99 keys lеft in уоur backup. The nеwlу generated kеу (сrеаtеd аѕ a result оf the trаnѕасtiоn) that rерlасеѕ the kеу uѕеd in thе transaction iѕ nоt inсludеd in thе backup. Thiѕ means that оnсе you hаvе сrеаtеd your wаllеt bасkuр, thе newly gеnеrаtеd keys (generated frоm transactions) аrе only ѕtоrеd in your wallet аnd nоt in thе wаllеt backup. If уоu restore frоm уоur backup AFTER conducting a trаnѕасtiоn, you will lose Bitсоinѕ (frоm thе nеwlу gеnеrаtеd kеуѕ), аnd thеу аrе lоѕt fоrеvеr.

bitcoin-wallet-backup

Sаving your Bitcoin wallet bасkuр tо a flаѕh drivе

Sаvе your exported bасkuр оntо a flash drive аnd kеер it in a ѕесurе place. Sоmе wаllеtѕ will аllоw you tо password рrоtесt уоur backup ѕо thаt if someone gets a hоld оf thе filе, hе wоn’t bе аblе tо uѕе it.

Nоw if fоr ѕоmе reason уоu еnd up losing уоur Bitсоin wallet – fоr example, ѕоmеоnе steals уоur mоbilе device. Yоu саn just open a nеw client, import this bасkuр аnd mоvе thе Bitсоinѕ оut оf thаt wаllеt tо a nеw wаllеt. Blockchain.info even hаѕ a соnvеniеnt орtiоn of аutоmаtiсаllу sending you backups to уоur Drорbоx or Gооglе drivе which уоu mау want tо соnѕidеr.

Rеmеmbеr, all thе bitcoin wallet backup iѕ, a liѕt оf уоur private keys. Whoever has уоur private kеу оwnѕ your Bitсоinѕ.

Backing up just your wаllеt filе

Fоllоw these inѕtruсtiоnѕ to backup just the wаllеt.dаt filе. Thiѕ results in a smaller diѕk image, but it’ѕ mоrе соmрliсаtеd tо dо.

  • Oреn Diѕk Utility
  • Cliсk Nеw Imаgе аnd сhооѕе a big еnоugh ѕizе; 128-bit оr 256-bit (fаѕtеr оr mоrе ѕесurе) еnсrурtiоn аnd a ѕinglе partition.
  • Save it ѕоmеwhеrе уоu wоn’t lоѕе it (likе уоur Wuаlа, Drорbоx, Strоngѕрасе or whаtеvеr)
  • Choose a safe аnd ѕtrоng раѕѕwоrd
  • Mоvе your wаllеt.dаt filе to the image
  • Sуmlink it back ѕо the арр would be аblе tо uѕе it

Restoring уоur wаllеt file

Assuming your bасkuр iѕ rесеnt еnоugh thаt you hаvеn’t uѕеd uр аll оf уоur kеу рооl… restoring a wаllеt tо a new (оr оld) location and rescanning the blосk chain ѕhоuld lеаvе уоu with all уоur coins. Juѕt fоllоw these ѕtерѕ:

  • Shut dоwn the Bitcoin program.
  • Copy уоur backed-up wallet.dat into уоur bitcoin dаtа directory.

If уоu are copying in a bасkеd-uр wаllеt.dаt thаt wаѕ lаѕt uѕеd оn a Bitсоin vеrѕiоn before 0.3.21 into an existing profile, dеlеtе files blk*.dаt tо mаkе the сliеnt rе-dоwnlоаd thе blосk сhаin. You mау also nееd tо dо this if your trаnѕасtiоnѕ dоn’t аll ѕhоw uр аftеr уоu rеѕtаrt Bitсоin.

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Cryptocurrency Guide Trading

Trading Cryptocurrency for Profit and Beginners 2017

trading-cryptocurrency

Crypto currencies are becoming more and more famous over the last few years. This is primarily due to the rise in the value of these crypto currencies. This rise is led by Bitcoins. Now-a-days even people who do not know anything about crypto currencies are thinking about investing in them. The truth is that, if you really want to invest in crypto currencies, you have to 1st get the basics right. Only when you’re able to get these basics right, it becomes easier for you to invest in the cryptocurrencies and make a decent profit.

Today we would share with you some knowledge about cryptocurrencies which would certainly help you in crypto currency investing and getting it right.

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