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  • Bitcoin Soars Past $12,000 after Decoupling from Stocks

    Bitcoin Soars Past $12,000 after Decoupling from Stocks

    $12,000 is an important level from the technical analysis perspective of bitcoin. Bitcoin’s bullish momentum has been developing for more than a week and at the moment, BTC is nearly touching the $13,000 level. Many technical analysis experts are eagerly looking at Bitcoin and crypto enthusiasts are expecting further gains to come soon.

    Buy BTC on Binance

    Bitcoin’s price increased by around 3.4% on Monday. Some altcoins like Dash and Monero followed BTC and their prices rose dramatically. The IMF held a virtual meeting focused on international payments and digital money. During this discussion, Jerome Powell stated that the central bank is assessing the pros and cons of digital currency but that they haven’t made a decision yet. He talked about Libra and called it a catalyst that attracted a lot of attention regarding the issue.

    People are disappointed about the US government’s attempts to save the economy. Therefore, US stocks are dropping and investors are migrating to safe havens like gold and BTC. The Bitcoin market experienced a big rally in the previous week and BTC decoupled from US stocks. It is an important event and it can be a prelude for some big changes.

    Bitcoin is a relatively new technology and the limited supply of BTC is a fascinating feature of the world’s first cryptocurrency. Because of these technical aspects and because of the entrance of the institutional investors to this space, many people and experts are bullish on BTC.

    Top fundamental reasons for BTC’s growth

    The macroeconomic context of today’s world is unique. The COVID-19 pandemic forced governments to print money and this printing is not controlled. Many investors are really worried about the consequences of this quantitative easing. They fear impending inflation and because of this, they are seeking safe havens like real estate, bitcoin, and gold. This causes a capital inflow to cryptocurrencies and BTC. Then, BTC may touch new all-time highs. 

    Bitcoin’s supply is limited and no one can create new BTC coins at low. It is an important feature and gives BTC the potential to act a store of value. BTC is decentralized and the limited supply has been designed from day one.

    Transfering Bitcoin is easy and people can use it for cross-border payments. Keeping BTC is easy and convenient – you just need a digital wallet. These advantages are accompanied by a kind of digital scarcity and all in all, we can call bitcoin an exceptional opportunity for many investors.

    From a technical perspective, BTC is in a good position right now. It is above all the most relevant moving averages and it has remained above the $10000 level for more than 80 days. Many technical and chartists are bullish about Bitcoin’s price action and there are many bullish predictions in this space.

    Final thoughts

    BTC is an extraordinary opportunity and it has many advantages from both the technical and fundamental perspectives. BTC is a new technology and its monetary policy presents a unique alternative to fiat currency. It has anti-inflation properties and its limited supply is a new phenomenon. However, no one can predict the future and crypto space is full of risks. This article is for informational purposes and nobody shouldn’t be considered as investment advice.

  • The Bitcoin mined by Nakamoto

    The Bitcoin mined by Nakamoto

    The BTC mined by Satoshi Nakamoto is topic from the earliest days of Bitcoin and many people in the cryptocurrency community are curious about it. Satoshi Nakamoto is the unknown creator of Bitcoin who released the Bitcoin whitepaper in 2008. Evidence suggests that Satoshi either doesn’t have the private keys to access these early coins or is simply not interested in spending them (if he is still even alive).

    WhaleAlert is a famous crypto community service that’s renowned for its Twitter alerts about huge cryptocurrency transactions. A report published by WhaleAlert recently estimates that Nakamoto mined 1,124,150 Bitcoins.

    There is a method for estimating the coins that were mined by Satoshi. This method is called the Patoshi Pattern and it was introduced by Sergio Damian Lerner in 2013. It seems that Satoshi mined Bitcoin because he wanted to be sure about the security of this nascent network. The Patoshi miner stopped operating in May 2010, and it’s unclear if Nakamoto continued mining bitcoin after that date or not.

    How to guess the network hash rate?

    There are fields in bitcoin blocks and you are able to guess the whole hash rate of the network from them. The block header possesses the most significant metadata of the block and they are 80 bytes.

    The timestamp and the difficulty target are two fields in the block header that we can use in this analysis. The difficulty target codifies the minimum difficulty of the block and is utilized to determine if a block hash is eligible to be adopted as a new block. The difficulty target is regulated occasionally.

    The timestamp field codifies the time of the block mining. BTC is distributed and no global resource clock exists for all the nodes. Block timestamps are still vital for the adjustment of difficulty. The timestamp field is signed loosely by the nodes and some deviation is natural for it.

    The target block interval for bitcoin is 10 minutes. It means that new blocks should emerge approximately every 10 minutes. After 2016 blocks are mined, a new difficulty goal is set so the block interval remains as close to its target is possible. As such, the difficulty is regulated around once every 14 days. By using this background, everyone can guess the history of hash rate.

    Early hash rate of the bitcoin network

    Six months after block zero was mined in 2009, bitcoin hash rate was about 5 MH/s. It declined for a short period and then moved up towards the end of the year. This rise was significant. Nearly all of the mined blocks of 2009 only have a few transactions inside them. Connected with the weak hash rate, we can conclude there were a small number of bitcoin users in 2009.

    Back then, there were a few people like Hal Finney downloaded Nakamoto’s code and ran it. It seems that many early adopters of bitcoin just ran the code for a short time. Back then, Bitcoin had practically no monetary value.

    The situation was not so clear at that time and it seems most of the blocks in 2009 were mined at a slow pace in comparison to the targeted 10-minute interval. Based upon the materials mentioned above, it’s rational to accept that most of the hashing power of that year came from Nakamoto. The hash rate in the first half of 2009 was very constant and if there were other people, the hash rate would have shown more significant changes. From the beginning of 2010, the hash rate rised fast and it means the presence of serious users in this space.

    Was Satoshi alone in mining?

    The answer to the above-mentioned question is probably yes. The network’s hash rate was fixed for around six months and if there were some other people at the space, the hash rate would change dramatically. Maintaining a 5 MH/s hash rate was feasible at the time, considering the type of computer hardware that was available.

    The hashing power of the CPUs that existed at the time is a strong and clear clue for Satoshi`s unaccompanied mining. If other people were mining at that point, the hashing power must have been really higher. For more evidence about Satoshi’s solo mining, you can go to this link.

    Final thoughts

    From my observations, the most frequent estimate for how many coins Satoshi mined is at around 1 million BTC. 1.6 million coins were mined in 2009 and Nakamoto could have controlled around 60% of the whole hash rate. Satoshi continued BTC mining in 2010 as well, making the 1 million BTC figure pretty plausible. Most of the mined bitcoins of 2009 are intact and Nakamoto never spent them. It seems that Nakamoto’s primary aim for mining Bitcoin was the expansion and development of the nascent network of bitcoin. Satoshi was interested in that ecosystem wanted to create a user base.

  • Crypto.com Integrates PayID Offering 5M+ Users an Easy and Unique Way to Send & Receive Crypto

    Crypto.com Integrates PayID Offering 5M+ Users an Easy and Unique Way to Send & Receive Crypto

    PayID, a universal payment identifier, enables Crypto.com’s 5M+ users to send/receive crypto across any network under the same initiative, connecting 100M+ consumers worldwide

    HONG KONG, October 19, 2020 — Crypto.com today announced PayID, a universal payment identity developed by the Open Payments Coalition, is now available on the Crypto.com App.

    Open Crypto.com Account

    Crypto.com’s 5M+ users can register for a PayID from the Crypto.com app, consolidating complex wallet addresses and accounts into a simple ID that works across any payment network and currency. Users who register for their unique PayID will get an exclusive Crypto.com-branded, easy-to-read ID — such as “yourname$payid.crypto.com — that enables users to send/receive crypto payments from other compatible wallets with just a single ID, easing their ability to connect to 100M+ crypto users worldwide. 


    PayID solves a key pain point in the crypto payments world, which consists of many closed and complex networks. Participants must manage multiple long and random wallet addresses, increasing the likelihood of erroneous transactions. PayID creates a free, open and common protocol that allows for interoperability between any payment network or currency.

    Starting today, Crypto.com is offering early access for select customers to register their unique Crypto.com PayID. To be eligible:

    • Stake 10,000 CRO or more in Crypto.com Exchange; or
    • Stake 10,000 CRO or more in Crypto.com App

    On 2 November 2020 all Crypto.com App users can register their own Crypto.com PayID within the Crypto.com App.

    Once registered, users can send crypto from other compatible wallets to the Crypto.com App with just their PayID, instead of a full-length crypto address. At launch, supported cryptocurrencies include CRO, ETH, BTC, XRP and many more ERC20 tokens. Users can also send crypto to other compatible wallets using PayID hosted by other members in the Open Payments Coalition.

    About Crypto.com

    Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. Crypto.com serves over 5 million customers today, providing them with a powerful alternative to traditional financial services through the Crypto.com App, the Crypto.com Card, the Crypto.com Exchange and Crypto.com DeFi Wallet. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance. Crypto.com is headquartered in Hong Kong with a 600+ strong team. Find out more by visiting https://crypto.com 

    For inquiries: press@crypto.com

  • Features of Real Money Gambling with Bitcoin

    Features of Real Money Gambling with Bitcoin

    Gambling is one of the most famous entertainment activities around the world. Casino games give an adrenaline rush that is hard to get anywhere else. When you play with real money, you stand a chance to win big. Online casino gaming has been gaining popularity as it allows people to play at any time or place. A lot of people are skeptical about playing online for real money. This is why many online casinos offer no deposit bonuses where players can bet without having to make a deposit. You can browse this site about real money gambling and start to make money as you play in your favorite casino games.

    Casinos give new players a free real cash bonus when they play for real money, this means that you get a specified percentage of your deposit in free money. The more you deposit, the more you will get as a bonus. There is also a wagering requirement on the deposit bonus. Any winnings made from the bonus are only available after wagering a certain amount.

    Online casinos offer many different modes of payment ranging from bank and credit cards to virtual currency. Many players are wary while playing because providing their information online especially financial information puts them at risk of theft from hackers. It also exposes them to invasions of privacy. It is for this reason that developers are constantly trying to create safer and more convenient means.

    Using bitcoin for real money gambling

    Bitcoin is a type of currency that has no reliance on banks and has no corresponding cash. It is a decentralized currency used by tons of people and businesses around the world. When used in transactions, they have faster processing and lower fees based on their non-reliance to banks and other investment companies.

    The advantages of using bitcoin include:

    • Safety: it is easily the safest payment method. The transactions are digital and highly encrypted. They do not give connection to personal names or any private information that could be traced to you. Verifications are carried out during the entire process. Casino transactions through bitcoin are untraceable and completely secure. This makes them one of the best ways to pay for real money gaming through the web or mobile.
    • It is cheap: there are no transaction fees when using Bitcoin. Any earnings if not converted to cash currency are not taxed. This is because Bitcoin is decentralized and there is therefore no regulating authority to tax it. You can therefore use the earnings from gaming in Bitcoin form in other sites as it is accepted in a lot of sites.
    • It is fast and convenient: Bitcoin transactions are completed within minutes giving you a seamless gaming experience. It is available through mobile and is therefore very convenient.

    Experts group casinos that accept bitcoin in two categories:

    • Those that only accept bitcoin: they do not have to convert the bitcoin to standard currency and the player does not lose money in exchange rates. The transactions are processed really fast and there are usually no fees.

    They also provide lower table limits since there is a bitcoin denomination that is smaller than USD. Anonymity her is always guaranteed. Most casinos that are bitcoin exclusive ask for the bare minimum on personal data and information. They also offer slightly better odds than those that have standard currency.

    • Those that accept bitcoin and other standard currencies- these are more structured and provide a wider selection of games. They have licenses, game testing and regulations as they deal with regulated currency.

    It is up to the player to choose what kind of Casinos they prefer. No matter which kind they settle for, they are guaranteed access to lots of casino deals.

    Getting started on real money gambling with Bitcoin

    To get started gambling with Bitcoin, you need to acquire the Bitcoin. The first step is to set up or purchase a Bitcoin wallet. The wallet is essentially like a bank account because that is where the Bitcoin is stored. Bitcoin has no government regulation and customers should be careful when acquiring their wallets as there are no guarantees and there is no recourse if bitcoins are lost or stolen.

    When you have the wallet, you then want to put some Bitcoin in it through one of three ways: Mine the bitcoin, this is the hardest way as it is really technical and requires heavy equipment. You may buy the bitcoin with traditional currency. This is fairly easy as you may buy it from someone you know, an online marketplace or even from specialist bitcoin ATMs. You may also receive it as payment for goods sold or services rendered. Due to its growing popularity, it is increasingly being used to transact.

    Once you have some bitcoin, the next step is to establish online casinos that provide for bitcoin as a payment method and set up an account. To deposit the bitcoin into your selected account you will:

    • Go to the cashier section on the website and select Bitcoin as your deposit method. You will be provided with a web address for your account.
    • You will input this address in your wallet in the ‘send Bitcoin’ tab. Enter the amount to send and confirm the transaction.
    • The funds are available to use in a few minutes.

    Once the funds are available you then proceed to play in the normal way until you are ready to withdraw your winnings. To do this:

    •  go to the cashier section once again and select Bitcoin as your withdrawal method.
    • Select the amount you want to transfer out of your account. You will need to get the address from your wallet which you enter in the casino.
    • Once entered, click withdraw to begin the withdrawal. This may take a few hours.

    Risks associated with using Bitcoin in real money gambling

    There are a few risks associated with using bitcoin to gamble online. Bitcoin is not user friendly. Its mainly been a preserve of the tech-savvy. This is changing however as the casinos are working on more user-friendly interface. Since it exists outside government regulation, it poses greater risk than banks and other currency. Bitcoin is volatile. The value can fluctuate wildly causing you loss. There are also only a limited number of places you can use bitcoin, mostly on the web. It is a relatively new technology and no one is sure about what is going to happen with it. The best philosophy with bitcoin is ‘buyer beware’.

  • Top 3 Coins to Watch – Week 43

    Top 3 Coins to Watch – Week 43

    As we progress through Q4 2020, several projects are moving ahead with continued development. May it be a just recently launched coin, an already established exchange-issued token or the world’s first cryptocurrency – this week’s selection of top 3 coins to watch has them all.

    1. Filecoin (FIL)

    Filecoin is a decentralized file storage platform that rewards users who offer data storage space to be rewarded in FIL. On the other hand, users can also purchase decentralized storage space at selected provides, depending on their specific storage needs. Filecoin utilizes IPFS (InterPlanetary File System), a protocol that enables the distributed data storage and sharing.

    Buy/Sell FIL

    FIL Gets Listed at several Exchanges Following Mainnet Launch

    The Filecoin project conduced an ICO in 2017 and raised more than $257 million for the development of the decentralized data storage platform. The highly anticipated mainnet launch finally took place at block 148,888, which got mined on October 15. Following the mainnet launch, Filecoin’s native FIL token got listed at several leading exchanges including Binance, Huobi, Bittrex, and Kraken, while FTX already opened the trading of FIL futures. In addition, the FIL token was also widely traded in IOU form. It is expected that the high trading volumes and speculation around FIL will continue over the coming weeks, so it is definitely worth keeping an eye on FIL.

    2. Binance Coin (BNB)

    Binance Coin (BNB) is a native token of the Binance Chain, a blockchain launched and operated by the established cryptocurrency exchange Binance. Users that utilize BNB to pay for exchange, withdrawal and listing fees they can enjoy a 25% discount. Initially the discount stood even higher, at 50%, but it gets halved every year.

    Buy/Sell BNB

    Binance Completes 13th Quarterly Burn

    The BNB team have confirmed the completion of their 13th quarterly BNB token burn which saw 2,253,888 BNB worth approximately $68,000,000 being destroyed and removed from circulation forever. While the number of tokens burned is just the fourth highest among the 13 conducted burns, their fiat denominated value is the highest ever. The leading exchange is moving forward with the continued development of the Binance Smart Chain (BSC) and the launch of the BSC Accelerator Fund, which offers $100 million worth of funding opportunities to DeFi and CeFi projects.  The exchange also expanded its fiat gateway system, which now covers already 232 countries. The Binance environment continues to thrive and new features are getting added to the BNB on a weekly basis. You can follow the latest developments on the exchange’s official blog post.

    3. Bitcoin (BTC)

    Although we believe that Bitcoin does not need much introduction and that all eyes would be on it even if it were not featured on our list, here is a short summary of the history and key characteristics of the first truly decentralized digital currency. The world’s pioneer cryptocurrency was launched by pseudonymous figure named Satoshi Nakamoto in 2009 and has a capped supply of 21 million coins. The decreasing miner block rewards makes the cryptocurrency scarcer with time, ensuring a deflationary nature.

    Buy/Sell BTC

    The demand for Bitcoin Could Increase as Investors seek Inflation Safe-Haven

    According to a post from Anthony Pompliano, also known as ‘The Pomp’ we “sit at an unprecedented time in the macro-economy”, also due to the COVID-19 induced stimulus packages, which already total to more than $3 trillion, with another $2 trillion on the way. The fear that the uncontrolled money printing will cause an inflation has driven significant capital flows to inflation-hedge asses, such as gold, real estate and Bitcoin. With its supply capped at 21 million and the market capitalization of less than $220 billion, Pompliano believes that Bitcoin’s price growth is far from over. In his opinion, we will see a significant upward movement in the Bitcoin price by the end of 2021 due to the increased demand combined of this programmatically scarce digital asset. The fact that more than 60% of Bitcoin has not been moved in the last 12 months reinforces the bullish sentiment. Pompliano’s realistic prediction states that Bitcoin’s value will increase by a factor of 10 over the next 15 months, while in his bullish scenario features a new all-time high at around $250,000 per Bitcoin. Nevertheless, the Pomp warns that we will likely see many 15-30% dips along the way, as Bitcoin is a highly volatile asset.

  • Win up to 12 BTC in TRedump vs BidGreen Battle at BC.Game!

    Win up to 12 BTC in TRedump vs BidGreen Battle at BC.Game!

    🎁 https://tbbattle.bc.game/ 🎁

    It’s the time again when everyone is discussing about the upcoming US presidential election. To mark this time in history, BC.Game has decided to run its own election with a BC.Game twist!

    Instead of flat out voting, your bets will vote for you! The contenders?

    Tredump vs Bidgreen of course!

    Let’s get thrilled with the TB Battle!

    Vote Who Wins. Split 12 Bitcoins!

    All players who wager in the Crash red/ green game (trenball game) will receive rewards.

    Event duration:
    October 13, 2020 4:00 a.m – November 3, 2020 3:00 a.m. (UTC +0) after the final result of 2020 United States presidential election is announced.

    Who can participate:
    All BC.Game players

    How to participate:
    Before the final result of 2020 presidential election is announced, try to collect Tredump Coin & Bidgreen Coin in the Crash red/ green game & participate in the weekly & final ranking of events to receive BTC rewards!

    How to collect Tredump Coin & Bidgreen Coin:
    Betting Crash:
    Every bet Red $0.01 = 1 T Coin;
    Every bet Green ( Moon included) $0.01= 1 B Coin.

    Sign in daily on the event page & receive free T/ B Coins.

    Invite friends to join BC.Game & get up to 10 additional opportunities to receive T Coin/ B Coins daily!

    Play any game with T Coins/ B Coins to win more.

    Register during the event & get free T Coins/ B Coins as gifts instantly!

    WEEKLY PRIZE POOL / TOTAL PRIZE POOL

    The weekly & total event prize pool closely depends on players’ weekly & total wager respectively during the TB Battle event. The more players bet, the bigger it grows.

    Weekly ranking rewards:

    Every Monday at 03:00 (UTC+0) the previous week’s ranking rewards will be distributed & can be claimed on Notice page.

    The winners of weekly Top 10 Highest T Coins & B Coins holders (total of 20 player) will be awarded the Crash red & green game weekly prize pool.

    Event final reward distribution:

    Scheduled tentatively on November 3rd at 03:00 (UTC +0) after the final result of 2020 United States presidential election is announced. Top 50 T Coin or B Coin holders (total 50 people) will split the Crash red & green game total prize pool. Depending on the final election result, if Trump wins then the T Coin holding team will win & the system will rank top 50 winners & same way for B Coin if Biden wins!

    The rewards issued are the total prize pool amount of the total wager during the TB Battle event.

    Join Now

  • Ethereum and Bitcoin Both Add Under 1%

    Ethereum and Bitcoin Both Add Under 1%

    Bitcoin Stays Stagnant under $11,625

    The BTC/USD pair opened Thursday’s, 15th October, session at $11,443. The price was trading sideways until 8:00 UTC when a local descend to the day’s low at $11,280 began. The price, however, steadied at $11,330 between 10:00 and 12:00 UTC; after that an upside reversal began, which saw the pair near the $11,625 resistance level. But even before reaching it the bullish body of the 20th hourly candle contracted rapidly, producing a shooting start pattern at 21:00 UTC.

    This bearish candlestick pattern played out as it should, taking the price lower during the evening hours of the day. However, at the close of Thursday’s session, the pair was at $11,517 – 0.77% above the open.

    The day’s price action shows that there is forming a local sideways channel between $11,330 and $11,574. Amid the upside retracement that began last week, this shows that the buyers have locked in their profits and are accumulating new liquidity in this sideways fluctuation for the continuation of the uptrend. The breakthrough above $11,625 is most likely to take place the week of 19th October.

    Ethereum Slips below $378

    The ETH/USD pair showed much less price action on Thursday, 15 October, than BTC/USD did. The pair opened at $378.3 – a few cents above the $378 daily support – and began the day in a sideways fluctuation. The first notable price action took place at 9:00 UTC through to 12:00 UTC, which saw the pair drop to $373.

    At noon, an upside retracement began, which took Ether above the $378 daily support level as high as $381.1 – the day’s high – between 20:00 and 21:00 UTC. However, in the last three hours of the day the pair dipped below the support level, closing the day at $377.8.

    Ether’s price action during the day shows that there is still some bullish sentiment behind the smart-contract leading cryptocurrency. But on the back of Bitcoin adding 0.77% Ether looks too vulnerable closing in the negative territory. In case Bitcoin loses some of its recent gains and closes a few daily sessions in the red, it may nullify all of Ether’s upside retracement that it has made since 7th October.

  • Basic Crypto Terms You Should Know

    Basic Crypto Terms You Should Know

    Using crypto might be challenging if you are not familiar with the so-called crypto language. As a matter of fact, some users are even attending crypto seminars to understand what digital cash is all about.

    Now that we have everything on the internet, here is a quick guide about all the crypto terms explained in simple terms.

    Cryptocurrency

    It is described as digital money that operates on blockchain technology. Unlike your traditional currency, it is decentralized or not controlled by the government or any financial institution.

    Altcoins

    It is basically any other digital currency other than Bitcoin. It is also referred to as alternatives to Bitcoin. In fact, there are more than 5,000 cryptocurrencies in the market right now. Some of these altcoins are:

    Blockchain

    It is described as a distributed ledger system consisting of blocks. These blocks contain all of the verified transactions. What’s amazing about it is that aside from being decentralized, it is also immutable. It simply means that entries included in the blockchain cannot be erased or edited easily.

    Address

    Think of it as your home address but replace it with random numbers and letters. Just like your home address, it determines the destination of any crypto payment. This is also used every time you deposit or withdraw your winnings in any casino site.

    Mining

    It is a process wherein miners create and verify cryptocurrency. Mining also involves complex mathematical problems. The best thing about mining is that it is profitable.

    Cryptography

    It is basically the process of encoding and decoding information using complicated codes. It is also a way to secure all means of communication from malicious third-parties or hackers lurking in the dark. There are three types of cryptography, these are:

    Secret Key Cryptography (SKC)

    It is a single key for both encryption and decryption. It is the sender’s and the receiver’s key.

    Public Key Cryptography (PKC)

    This key is mostly used for authentication, non-repudiation, and key exchange. Unlike SKC, there are two keys. One for encryption while the other is for decryption.

    Hash Functions

    This is the type of cryptography that does not use any keys. Once it is transferred, it is not recoverable.

    Fork

    It is a change in currency’s rules or protocol. It can either be a hard fork or a soft fork. Forking also means a split in the blockchain network.

    In the blockchain fork, anyone can propose improvements and change the code.

    Volatility

    It is the movement of crypto’s value in the market. It can also increase and decrease at any time.

    Initial Coin Offering (ICO)

    This represents the organizations that offer digital tokens to the public to raise money. For instance, if you can mine a specific number of blocks, an organization will reward you with tokens.

    Cold Wallet

    It refers to storing your coins away from the web. It can be in a flash drive or an offline Bitcoin wallet.

    Hot Wallet

    It is your crypto wallet that is connected to the internet. It is also encrypted with random numbers and letters to protect your funds from hackers.

    Fiat Currency

    It refers to any currency issued by the government or any banking institution. It can be dollars, pesos, rupees, riyals, and many more.

    Pump and Dump

    It is described as a form of market manipulation by traders who artificially inflate prices and leave the market. This is also the reason why there is a sudden drop in the coin’s value.

    Cryptocurrency Exchange

    This is a platform used to exchange fiat to cryptocurrencies. It is like a forex trading platform but for cryptos.

  • Coinbox.org Adds Cryptocurrency Staking to the Wallet

    Coinbox.org Adds Cryptocurrency Staking to the Wallet

    With Coinbox.org, users can now generate passive income – just by keeping cryptocurrencies in a special wallet. This new feature offered by Coinbox.org is called staking. It can be a great way for hodlers to increase their cryptocurrency assets easily and effortlessly.

    Staking networks use Proof of Stake as their consensus algorithm. To better understand what it’s all about, you need to get hold of this concept.

    Both Proof of Work (PoW) and Proof of Stake (PoS) share the same goal, which is achieving consensus in the blockchain. But the processes that allow reaching this goal in these systems differ from one another.

    Blocks on PoS blockchain platforms are “forged” rather than mined. Contrary to the way it works in PoW systems, PoS networks blockchains can develop and validate new blocks with no special hardware (for example, ASIC). Thanks to Proof of Stake protocols, any user who is in possession of the minimum required balance (stake) of a specific cryptocurrency can confirm transactions and earn staking rewards. In PoS systems, those “guarding” the coins always own the coins, and the larger the amount of those coins, the bigger are the chances for a node to be selected as another validator.

    However, blockchain developers who created the PoS algorithm quickly understood that the selection by the stake size only would result in centralization, which, obviously, would be highly undesirable. That’s why other selection methods (like coin age-based selection and randomized block selection) have been added.

    Coinbox.org has now introduced staking for ALGO

    ALGO is the official native cryptocurrency of the Algorand blockchain network. Logically, it’s based on the open PoS Algorand blockchain platform. Unlike most other public blockchains, this scalable platform boasts fast transaction processing time while sticking with the decentralization.

    The advantages of Algorand Technology are the following:

    • Validators don’t risk to be slashed (slashing is an event where the validator gives up a defined amount of staked coins which are then redistributed to other stakeholders or burned).
    • It’s impossible for the minority and it makes no sense for the majority to cheat the system because it would devalue their holdings.

    Annual Percentage Yield (APY) is the interest rate that reflects the total amount of interests, in this case, staking rewards, that are predicted to be earned in one year. Currently, it’s 6.12% for  ALGO.