Bitcoin wallets these days are available in plenty. The problem is that most of these wallets are not secure. Most of the Bitcoin wallet companies do not take proactive steps in order to make them secure. When you’re storing your Bitcoins in these wallets, it is important for you that the Bitcoins remain entirely secure. That is why you have to always opt for the most secure Bitcoin wallet. Also, not all the Bitcoin wallets run on all operating systems. That is why it is important for you to look at the operating system compatibility of the Bitcoins as well. Once you are able to look at the operating system compatibility, that is only when you would realize whether this particular Bitcoin wallet is good enough for you or not.
Today we would speak about Samourai wallet – a Bitcoin wallet review. We would go into the details of this Bitcoin wallet in order to help you better understand whether it is a good enough option or not.
What is Samourai Bitcoin wallet?
Samourai wallet is a mobile wallet. The main focus of this wallet is on the security as well as accessibility of the wallet. Owing to this very reason, if you’re looking for a secured wallet which provides you with privacy as well, this is one of the best options for you.
As more and more electronic wallets become more accessible to people, the competition just keeps on increasing. Some of the electronic wallets just keep on innovating newer and newer features and incorporates them in its wallet in order to make it more usable for people. That is why, if you’re looking for advance mobile wallet, Samourai Bitcoin wallet is the perfect option for you.
Now we would go into the features of the Samourai Bitcoin wallet.
Samourai wallet does not just comply with the industry standard security protocols but it also has an advanced security protocols as well. You would have to enter a pin code in order to open up the wallet each and every time you want to use it.
Samourai Bitcoin only does not use the same Bitcoin addresses. This ensures that you are able to hide your identity as well. Also, you can conduct as many transactions as you want without having to use the same kind of Bitcoin wallet address.
The platform for sending the Bitcoins is also pretty easy to use. You can directly send the Bitcoins from your smartphone. Also, private sending feature is also possible. Whenever the network is slow, the wallet would also inform you regarding the time which it will take for the network to process the Bitcoins. This ensures that it becomes easier for you to decide how much fees you have to pay in order to get the transaction completed at a faster pace.
QR codes facility:
Instead of sending the wallet ID, you can use the wallet facility in order to scan the code and send the payment. This ensures that you do not have to type the pretty long Bitcoin wallet id. This also provides you with an enhanced security as well as QR codes are very difficult to manipulate.
The QR codes can also keep the wallet ID of your Bitcoin wallet completely secure.
If while sending the Bitcoins, you do not want the Samourai Bitcoin wallet to use their own nodes in Iceland, you can input your own trust node. This would ensure that your transactions are completed through those trusted notes. This would provide you with an enhanced layer of security.
Even if you want to remotely view the Bitcoin wallet ID, you can send an SMS to your phone with the text:
SW seed PIN_CODE
This would provide you with the seed of the wallet.
You can even wipe your wallet remotely as well. There are quite a few other commands as well which you can opt for remotely.
Moreover, if you want to hide the wallet in your smartphone, that is possible as well. Normal people would not be able to view the wallet at all. In order to view the wallet, you have to dial
This would open up the Samourai Bitcoin wallet.
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BitGold is actually very different as compared to your normal crypto currency. BitGold is provided by a Canadian company. The underlying principle behind BitGold is that you would be able to save your money and convert into gold reserves with the help of BitGold. Moreover, whenever you are sending someone payments you can convert it into a gold reserve; and thereafter send the payment which ensures; that the payment is completely secure and backed by the bullion metal.
History of BitGold:
The company which is offering BitGold was started in 2014. The company is currently providing you with the opportunity to convert your savings into gold and to sell gold whenever required and to redeem gold as well.
BitGold currently offers the service to buy gold as well as to make any business or financial transactions between businesses or individuals using gold. The customers who are using the services of BitGold can directly send or receive the bullion metal.
Whenever you are depositing and storing your money in Bitcoin, the company actually buys and holds gold in its vaults and different cities around the world. The statements of the company are audited by PricewaterhouseCoopers; in order to ensure that it is actually providing the gold backed standard.
Bitgold is still in the initial stages owing to which the market cap is just around $1.13 million. However, as has been seen in the past; assets which are backed by gold become a standard form of transactional currency. Owing to this very reason, you can be sure that BitGold actually has tremendous potential when it comes to providing the gold standards in terms of currencies as well as the financial transactions.
Due to this very reason, if you’re looking to invest in upcoming currencies or in gold, BitGold is one of the best options for you.
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Cryptocurrency is a digital electronic that’s not issued by a government, unlike traditional currencies; but rather created electronically as the generation of cryptocurrency units. The verification of transaction processes is controlled by complex encryption techniques performed by computers instead of a Central authority.
Bitcoin, the first cryptocurrency in the world, was lanuched in 2009 by an anonymous programmer (or group of software developers) who goes by the pseudonym ‘Satoshi Nakamoto’.
In this article we will be talking about Bitcoin; specifically as it is the first cryptocurrency created and #1 in the world of cryptocurrencies.
But first of all, we need to understand what distinguishes bitcoins; (or Cryptocurrencies generally) from conventional currencies and what are their distinctive properties.
So what makes Bitcoin or Cryptocurrency so unique?
Bitcoin is characterized mainly by being digital as it is produced by computers through a process that’s called “Mining”; which involves complex encryption techniques and has no physical properties.
“Bitcoin Mining” is the definition given to the process through which bitcoins are generated and the transactions are added and verified. ”Mining” is performed by special fast computers solving complex mathematical problems; using the appropriate software in order to create or “mine” bitcoins and get rewarded with bitcoins in return.
For each block that is generated the miner is rewarded with 25 bitcoins. This value is halved every four years until all bitcoins are mined (yes the total number of bitcoins to be ever mined is limited).
In the current financial system, central banks along with other political institutions are responsible for controlling and regulating the processes of monetary units generation.
On the other hand, Bitcoin is a decentralized cryptocurrency as the process of its generation is not controlled by any government or central authority. The supply of bitcoins depends solely on the efforts exerted by the miners.
Bitcoin is a virtual currency, as the private keys for your bitcoin addresses (which are used to access your bitcoins) are stored in digital wallets.
So a Digital Wallet is the first thing you need to have in case you want to buy bitcoin. There’s a variety of digital wallets to choose from.
You can have your digital wallet on your desktop or on your mobile or have an online digital wallet, or you can have it as a physical device (which is considered by many to be the safest and most secure storage option.
Another options for bitcoins storage include storing at an Exchange (which offers several services as well like exchanging, sending and receiving bitcoins) and there are many competing Exchanges and wallet providers at the moment so it won’t be difficult to find one nearby.
Bitcoin is a peer to peer currency, meaning Bitcoin operates on a network of user based computers, and the bitcoins are transferred from one party to another across the internet with no 3rd party needed for the transfer process to be completed but the whole network nodes are responsible for monitoring and verifying the transaction process and that is the main idea of the Bitcoin mechanism.
We mentioned before that miners and the connected nodes of the network are responsible for monitoring and digitally regulating the transaction processes that take place between senders and receivers.
And as we know now, bitcoins are stored in digital wallets. Each of these wallets has a unique private key used and known only by the user and a public key which is considered to be the user’s payment address.
In order to understand how transactions work, there are 3 main parameters that are needed to be known and specified for a transaction process to be initiated
The address of the bitcoins sender
The address of the bitcoins receiver
The amount of bitcoins to be transferred from the sender to the receiver
The transaction carries a digital signature that is produced when the private key of the user is mixed with the data he wishes to send in a mathematical algorithm and each transaction has its own digital signature.
When sender “A” decides to send an amount of bitcoins games to receiver ”B” through Internet, the transaction with its data is combined with other requested transactions that are requested at the same time to be recorded in what’s called a “Block”.
Each block has its unique ID, time of the process and a reference to prior block.
The block is then broadcasted to each node in the network.
For a transaction process to take place, all the nodes of the network have to confirm the validity of the process and the authenticity of the digital signature using the public key of the user. This process also prevents
double-spending from taking place making Bitcoin a safe middle of exchange.
Once verified by the nodes of the network, the “Block” representing the transaction is then added to what’s known as the “Blockchain” which is a distributed public ledger shared by all the nodes of the network and functions as a database where all the transactions process are stored.
We can think of a blockchain as a giant ledge containing all the transactions that ever happened. Once a block is added to the blockchain, it cannot be modified nor can it be removed.
“We define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. A payee can verify the signatures to verify the chain of ownership.” – Satoshi Nakamoto
How to acquire bitcoins?
Currently there are two methods to get bitcoins:
1 – Become a “Miner”: which is not recommended if you are a beginner as it requires expensive efficient mining hardware (like FPGAs and GPUs) for the mining process to be profitable because using slow CPUs is not a practical solution at all considering its poor output with respect to time.
2 – Buy them: You can buy bitcoins through an Exchange or online by yourself using your fiat money or credit card, but, as we mentioned earlier, you will need a wallet in which your bitcoins can be stored.
At the Exchange, things work the same way they work at Stock Exchange, a buyer offers to purchase an amount of bitcoins with the price that he wants to pay for each bitcoin, and a seller offers to sell an amount of bitcoins with the price at which he wants to sell each bitcoin.
When the price placed by a buyer matches the price placed by a seller a trade takes place automatically.
And this how the price of a bitcoin is determined (At least for now because the number of bitcoins generated is still increasing and will continue to increase till all bitcoins are mined, after that the value of the bitcoin won’t rely really on its Supply but might rely on its Scarcity or on other variables) with the exchanges being responsible for organizing the trades between buyers and sellers and fixing the price of bitcoin according to the supply and demand of the cryptocurrency.
Here’s a list of some famous Bitcoin Exchanges by country:
The United States
Bitstamp: recommended because of the low trading fees it imposes on Bitcoin trades
Coinbase: one of the top Bitcoin exchanges that offers wide variety of services including: storing, exchange, buying and selling bitcoins and other cryptocurrencies like Litecoin and Ethereum as well. It operates in 32 countries.
Cryptsy: platform that offers its services for different cryptocurrencies and not just Bitcoin.
Kraken : operates in the U.S, Canada, the E.U and Japan.
Peer to peer bitcoin lending platforms are places for the borrowers to borrow bitcoins and the lenders to lend bitcoins to borrowers at specific interest rates. As the name suggests, these are peer to peer networks; where the files and data are sent to and from nodes; without the need of a central server which provides security to the clients.
Peer to peer bitcoin lending platforms offer lenders relatively high monthly interest rates that range from 3% to 8%.Though Lenders don’t pay fees, however borrowers do (but they are considerably low).
And in case you’re looking for low-risk options, you can open a bitcoin saving account, deposit any amount of bitcoins into your account and earn interests.
Here the three current best peer-to-peer bitcoin lending platforms:
1-Loanbase : Based in San Francisco and launched in 2013; Loanbase is considered to be one of the world’s largest peer to peer bitcoin lending platform. Borrowers and lenders from all over the world meet there to borrow and lend bitcoins.
2- Bitbond : founded by CEO Radoslav Albrecht, Bitbond is one of the safest peer to peer bitcoin lending platforms. It has facilitated bitcoin loans for more than 1,500,000 USD and has over 80,000 registered users. It has the AutoInvest tool which makes auto-investing easier.
3- BTCPop : Based in the UK, BTCPop is the world’s largest peer-to-peer bitcoin lending platform , it operates in over 60 countries and it is the first Bitcoin bank in the world!
Bitcoins can be used in games and they can be mined too by playing games. There are two types of games that involve the cryptocurrency: Mining games, where you play mobile games, solve puzzles , and answer questions to get bitcoins in return,however you don’t really earn that much from mining games but in the end of the day you play games and get bitcoins in return so it doesn’t sound bad!
Here’s a list of the best Bitcoin Faucets
And there are Gambling games and Casino games like Poker, where you use bitcoins instead of traditional money.
Challenges facing the fast-growing cryptocurrency
Bitcoin and cryptocurrencies face a number of massive challenges due to their unique characterstics.
The biggest challenge with Bitcoin is the extensive energy consumption of Bitcoin mining process. According to Digiconomist, the amount of energy consumed in Bitcoin mining process combined with the amount of energy consumed in Ethereum mining process exceeds the amount of electricity used by Jordan , Syria, and Iceland all combined. However ,according to researchers, modifications to the PoW systems is one way to reduce high-energy consumption.
Renewable energy sources can be used in the future for the Bitcoin mining process to be more efficient and sustainable.
Since the mathematics behind the Bitcoin system limit the number of the bitcoins to be created; the maximum number of bitcoins to be ever generated is fixed (It is said to be around 21 million); which consequently means that the value of bitcoin will eventually rely solely on its demand which in turn depends on several factors like the trust in the Bitcoin system , the utility and flexibility of Bitcoin as a currency, the investors , the governments, and the energy needed to keep the system going (which one of the major challenges facing the fast-growing digital currency at the moment ).
By the end of 2009, the year in which the bitcoin was launched, over 1.6 million bitcoins have been generated. The number of generated bitcoins increased dramatically to reach 5 million by 2010. And by 2012 the total number of bitcoins that have been mined reached 10 million.
As of April 2014, the total number of Bitcoin users surpassed 2.5 million with a monthly average growth of 5.46%
The number of merchants, businesses and retailers who accept bitcoins as payment is increasing as well. According to Overstock.com Inc. board member Jonathan Johnson , the cryptocurrency transactions processed had tripled since the Internet retailer decided to recognize Bitcoin as a method of payment.
Legal Status of Bitcoin
Many governments have serious concerns regarding the anonymity aspect of bitcoin. Despite the fact that each of the transactions that happen in the Bitcoin system is recorded in a public ledger; the identities and names of buyers and sellers remain secret (except their wallet IDs of course) . While that protects bitcoin users’ privacy, officials are concerned about the possibility that Bitcoin makes money laundry and the transactions in underground economies easier . And unfortunately Bitcoin ,since its creation, has been used widely by criminals to trade illicit goods and fund their illegal activities.
Some governments are working toward imposing regulations on Bitcoin and the other cryptocurrencies, which in turn strengthen the legitimacy of digital currencies. While some others adopted an unfriendly attitude towards the fast-growing digital currency. Russia has taken an action against Bitcoin banning the digital currency and the government prohibited individuals and entities from using cryptocurrencies.
The E.U recognizes the cryptocurrency as a convertible currency. A few days ago, the government of Australia has introduced a bill that would impose regulations on the decentralized global digital currency in an effort to counter money laundering and terrorism funding. And earlier this year, Japan recognized Bitcoin as a legal method of payment.
In China ,the country whose mining pools control about 70% of the Bitcoin network’s hashrate, possession and trading of bitcoins by individuals is totally legal, however the government did not impose regulations in favor of Bitcoin, yet.
For more information about Bitcoin mining in China , check this link. https://www.buybitcoinworldwide.com/mining/china/
In the United States, a congressional hearing was held in November 2013 to discuss the legitimacy of cryptocurrencies including Bitcoin. At the hearing, a federal judge representing the Department of Justice described the virtual digital currency as a “legal means of exchange”.
In March 2014, the IRS (Internal Revenue Service) which is responsible for collecting taxes released guidance regarding possession of virtual currencies, and the guidance recognized “Bitcoin” as “property”. In July of the same year, the New York State Department of Financial Services imposed regulations in favor of Bitcoin. Bitcoin is accepted as a method of payment by many U.S based retailers and companies; such as: Dell Inc, Overstock.com, WordPress , GYFT and Amazon.
In India, there are many Bitcoin exchanges that operate in the country and Indian authorities are researching Bitcoins and holding hearings to discuss the future of the legal status of the virtual currency in the country.
According to Sandeep Goenka , the CEO of Zebpay, the number of Indians interested in investing in Bitcoin is increasing rapidly.
The Future of Bitcoin
The 7 years following the creation of Bitcoin proved that cryptocurrencies have the potential to replace traditional currencies; and could be the next big thing of the 21st century. With their values skyrocketing and rising up after each drop they experience. 2017 was a great year for cryptocurrencies and Bitcoin specifically, as Australia and Japan recognized Bitcoin officially as a method of payment; to impose regulations on the digital currency and the value of promising currency hit an all-time record high climbing above $4500 just a recently.
Bitcoin is still in its infancy and still has a long way to go before it can replace traditional currencies but it did prove that it has the potential to become the future of the financial world.
Interested in bitcoin? Looking for ways to easily earn free bitcoin? Love playing games? How to earn bitcoins playing games? Look no further, because all you have to do to earn free bitcoin is to play a few games online!
It may come as a surprise, but there are tons of websites out there featuring free games that you can play to win bitcoin as a prize. If you’re already playing games in your free time, why not make some virtual cash while doing it?
In this article, we list several different types of games, from quiz to mobile, in which you can play for free bitcoin. If we’ve missed any on this list that you know of, feel free to send us a message or suggestion.
Note: As always, remember that playing games for bitcoin isn’t a way to get rich off of bitcoin. It is, however, a great way to earn a bit of money with a little bit of fun.
Maybe you majored in finance in college or you have an interest in money. Either way, there are some financial games out there that you can use to earn your first bitcoin. One of the most prominent financial games here is SparkProfit.
SparkProfit is a financial simulation game in which you try your hand at making predictions about real financial markets. Imagine trading stock, but without losses and only bitcoins to be gained. And, you can trade in digital currency markets too! In this game, the better you do, the more you earn. Unlock more currencies as your predictions are more successful and build up points. If you manage to become a top trader, you could be earning up to $100 in bitcoins per month!
How to earn bitcoins playing business investment games?
If you’re looking for more money related games, but more on the business side, look into FarmSatoshi. If you’ve ever played Farmville on Facebook, this game might ring some bells. In FarmSatoshi, you grow a farm and look after the animals on your farm. It’s simple to get started – get the game and just follow the on screen instructions to easily gain levels in the beginning.
However, to excel in this game, your dedication and time management skills must be delicately honed. You must constantly be upgrading, completing levels, and keeping your hungry farm animals satisfied by keeping their water, corn, hay, carrots, and grain supply filled. Once you’ve built up a healthy thriving farm, the bitcoins easily follow after.
If you love mobile games for their flexibility and ease of use with your smart phone, then look into these mobile games. The first game we want to talk about is SaruTobi, a game reminiscent of Flappy Bird, back in its day. In this mobile game, you’re an 8-bit monkey called SaruTobi that swings around vines in a jungle, collecting bananas and coins along the way. With the bananas, you can upgrade various tools to propel you and help you get around. Any coins you collect are free bitcoins! Get it in the iTunes store for Free and start making free bitcoins today!
The second mobile game is for you Android owners out there – Oh Crop! This game pits you against a plant uprising in an apocalyptic future. Plants come from all sides to bombard you with seeds, vines, and various other plan-related parts. To earn bitcoin from this game, you’ve got to get a top score and appear on the leaderboard.
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.
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 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.