Ultimate Secure Cash(USC)

In another example of crypto using the courts to fight back against unwarranted regulatory interference, blockchain advocates stopped a U.S. statistics agency from issuing an “emergency” request for mining energy metrics.

Sahara co-founder Sean Ren, a computer science professor at the University of Southern California, says his tech can help workers and businesses get compensated for their knowledge, data and expertise in the age of AI.

[PRESS RELEASE – Toronto, Canada, January 19th, 2024] In the dynamic world of blockchain technology, Nuvo has indelibly marked its presence with the successful launch of Nuscription, a pioneering Ethscription platform within the Metis ecosystem. Since its introduction, Nuscription has not just met but surpassed expectations, establishing itself as a pivotal force in blockchain innovation. […]

Nuvo Unveils Nuscription: Revolutionizing Blockchain Trading

BTC seemed proned to such a massive correction and there could be more trouble around the corner.

Antoine Riard, who left the Lightning Network in October, argues the Lightning Network is also at risk of becoming increasingly centralized and susceptible to single points of failure and censorship risks.

What is it about crypto trading that can make some users susceptible to substance abuse, and how can they get help?

USDC and DAI more susceptible to depegging than other stablecoins, claimed analysts.

In this market analysis, we'll delve into the movements of three intriguing cryptocurrencies: XRP (XRP), Tron (TRX), and Pomerdoge (POMD). Market analysis is important since trends can shift daily in the cryptocurrency market. Thus, traders and enthusiasts alike must keep a keen eye on the performance of various tokens. Click Here To Find Out More About The Pomerdoge (POMD) Presale XRP (XRP): Navigating the Waves XRP (XRP) has been navigating waves in the market. Recent weeks have seen the XRP price experiencing turbulence, with a 10.8% decline over the past 14 days. However, XRP has shown green charts again as it trades hands at $0.6306 with a market cap of $33.2B, up 0.70% overnight. This came as a result of the recent XRP listing on Gemini. Despite this minuscule rise, the XRP coin trading volume has plummeted by 40.78% daily, sinking to $1,022,725,535. Moreover, its moving averages and technical indicators show strong sell signals. Therefore, many experts foresee a short-term price drop for XRP, prompting buyers to sidestep this token. Tron (TRX): Showing Increased Volatility Tron (TRX) has been facing challenges recently. In fact, over the past two weeks, the Tron price has dropped by 7.2%. Since it was rejected by the range high on July 22, the Tron coin value has been fluctuating between $0.070 and $0.088. Furthermore, Tron recently breached a short-term ascending support line, further indicating the possibility of a negative trend. Tron has a value of $0.07725 with a market cap of $6.9B, up 0.39% in the past day alone. But, the trading volume of Tron has taken a 10.41% dip during that time, sinking to $154,358,626. Its technical indicators also paint a bearish outlook as they are all in the red. Thus, market analysts foresee a drop to its support level of $0.066 for Tron soon. Pomerdoge (POMD): Unleashing Gaming Potential Amid XRP's and Tron's ups and downs, a new player has emerged on the scene with an intriguing ecosystem - Pomerdoge (POMD). This cryptocurrency introduces a gaming-focused approach, aiming to connect players globally through a play-to-earn model. In fact, with over 3B individuals playing online games, Pomerdoge taps into a flourishing market. Closer Look at the Pomergame The main appeal for gamers will lie in the Pomergame - a unique P2E crypto game where users can earn rewards just by playing it. Not only that, the Pomerplace marketplace is another exciting component of Pomerdoge. This innovative platform is a bustling hub where players gather to engage in many activities. At the heart of the Pomerplace is a marketplace that opens doors to a universe of possibilities. Here, you can buy, sell, and trade the valuable items you've skillfully collected throughout your Pomerdoge journey, adding a tangible dimension to your virtual conquests. What Makes the POMD Native Token So Alluring? Buyers are flooding the Pomerdoge presale looking to obtain the POMD native token for an affordable price. One POMD token is worth $0.008, and those who bought it early enjoy a 14% ROI. Also, experts have taken notice of POMD's $14M market cap. In other words, when compared to XRP and Tron, POMD will skyrocket much quicker. Those who purchase it now will gain access to an exclusive 7,777 NFT collection created by Pomerdoge. Each NFT will cost 0.2 ETH and provide holders with unique perks. In addition, early birds will also participate in weekly giveaways totaling $150,000. Therefore, do not miss out on this potential blue-chip token projected to surge by 20x before its presale ends. Find out more about the Pomerdoge (POMD) Presale Today Website: https://pomerdoge.com/ Telegram Community: https://t.me/pomerdoge Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

In this market analysis, we'll delve into the movements of three intriguing cryptocurrencies: XRP (XRP), Tron (TRX), and Pomerdoge (POMD). Market analysis is important since trends can shift daily in the cryptocurrency market. Thus, traders and enthusiasts alike must keep a keen eye on the performance of various tokens. Click Here To Find Out More About The Pomerdoge (POMD) Presale XRP (XRP): Navigating the Waves XRP (XRP) has been navigating waves in the market. Recent weeks have seen the XRP price experiencing turbulence, with a 10.8% decline over the past 14 days. However, XRP has shown green charts again as it trades hands at $0.6306 with a market cap of $33.2B, up 0.70% overnight. This came as a result of the recent XRP listing on Gemini. Despite this minuscule rise, the XRP coin trading volume has plummeted by 40.78% daily, sinking to $1,022,725,535. Moreover, its moving averages and technical indicators show strong sell signals. Therefore, many experts foresee a short-term price drop for XRP, prompting buyers to sidestep this token. Tron (TRX): Showing Increased Volatility Tron (TRX) has been facing challenges recently. In fact, over the past two weeks, the Tron price has dropped by 7.2%. Since it was rejected by the range high on July 22, the Tron coin value has been fluctuating between $0.070 and $0.088. Furthermore, Tron recently breached a short-term ascending support line, further indicating the possibility of a negative trend. Tron has a value of $0.07725 with a market cap of $6.9B, up 0.39% in the past day alone. But, the trading volume of Tron has taken a 10.41% dip during that time, sinking to $154,358,626. Its technical indicators also paint a bearish outlook as they are all in the red. Thus, market analysts foresee a drop to its support level of $0.066 for Tron soon. Pomerdoge (POMD): Unleashing Gaming Potential Amid XRP's and Tron's ups and downs, a new player has emerged on the scene with an intriguing ecosystem - Pomerdoge (POMD). This cryptocurrency introduces a gaming-focused approach, aiming to connect players globally through a play-to-earn model. In fact, with over 3B individuals playing online games, Pomerdoge taps into a flourishing market. Closer Look at the Pomergame The main appeal for gamers will lie in the Pomergame - a unique P2E crypto game where users can earn rewards just by playing it. Not only that, the Pomerplace marketplace is another exciting component of Pomerdoge. This innovative platform is a bustling hub where players gather to engage in many activities. At the heart of the Pomerplace is a marketplace that opens doors to a universe of possibilities. Here, you can buy, sell, and trade the valuable items you've skillfully collected throughout your Pomerdoge journey, adding a tangible dimension to your virtual conquests. What Makes the POMD Native Token So Alluring? Buyers are flooding the Pomerdoge presale looking to obtain the POMD native token for an affordable price. One POMD token is worth $0.008, and those who bought it early enjoy a 14% ROI. Also, experts have taken notice of POMD's $14M market cap. In other words, when compared to XRP and Tron, POMD will skyrocket much quicker. Those who purchase it now will gain access to an exclusive 7,777 NFT collection created by Pomerdoge. Each NFT will cost 0.2 ETH and provide holders with unique perks. In addition, early birds will also participate in weekly giveaways totaling $150,000. Therefore, do not miss out on this potential blue-chip token projected to surge by 20x before its presale ends. Find out more about the Pomerdoge (POMD) Presale Today Website: https://pomerdoge.com/ Telegram Community: https://t.me/pomerdoge Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Venture capital firm Blockchain Capital, fell victim to a sophisticated phishing scam after its social media account on X, previously known as Twitter, was hijacked. The perpetrators posted a series of fraudulent messages on August 9, promising a giveaway of “BCAP” tokens. They provided a link to a fake website closely resembling Blockchain Capital's original site, intending to deceive users into linking their cryptocurrency wallets. The fraudulent website had a minor alteration in its URL, adding an extra 'n', a detail easily missed by unsuspecting users. The scam strategy also involved a sense of urgency by stating the giveaway would only be available for a day, aiming to exploit the fear of missing out. Notably, to prevent potential exposure, the comments section was deactivated, inhibiting users from flagging the scam. Prompt action from informed members of the blockchain community led to the swift identification of the deceit. Blockchain Capital reestablished control over its account within hours, removing the misleading posts. This cyber intrusion follows a broader pattern of scams in the crypto space, as highlighted by the Federal Bureau of Investigation (FBI) recently. The agency issued a warning about the increasing instances of criminals posing as non-fungible token (NFT) developers. These fraudsters hack into high-profile social media accounts, falsely advertising new NFT releases. Victims are directed to counterfeit websites where, once their crypto wallets are linmked, funds are syphoned using malicious smart contracts. According to the FBI, stolen tokens are then laundered through multiple cryptocurrency mixers and exchanges, obfuscating their tracks. The Blockchain Capital breach echoes a similar incident from April involving the crypto exchange platform, KuCoin. Its social media account was compromised, leading to a fake giveaway scam resulting in a loss of over $22.6K in cryptocurrency. In response, KuCoin assured full compensation to the impacted customers and emphasized the continued security of assets on its platform. Changpeng “CZ” Zhao, CEO of Binance, a global cryptocurrency exchange, recently warned of the uptick in such phishing attacks and advised the community against using text message-based two-factor authentication. Instead, he recommended more secure methods like hardware devices. With the frequency and sophistication of these cyber-attacks on the rise, stakeholders within the cryptocurrency domain remain on high alert, reinforcing the necessity for enhanced digital security measures. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Austin, Texas, August 10th, 2023, ChainwireTopl’s CTO, Dr. Hans Behrens, was invited to present the peer-reviewed Ouroboros Taktikos research at China’s prestigious conference in Haikou, China.Topl, an interoperable blockchain protocol focused on a connected, inclusive, and sustainable global economy, today announces the peer-reviewed acceptance of its research on Ouroboros Taktikos. This consensus mechanism, built on the foundation of Cardano’s Ouroboros Praos, shows a throughput increase of 2.9 times and a latency reduction of 5.7 times compared to Praos.Topl's research indicates that by using a dynamic threshold, throughput and latency can be optimized, resulting in a more responsive network. Whereas Praos derives its name from the Greek term meaning "calm" or “gentle” and is known for its sparse consensus intervals, Taktikos, a Greek term meaning "arrangement," reflects a more dynamic approach to block ordering.The Ouroboros Taktikos research was presented at the International Conference on Blockchain and Trustworthy Systems, known as BlockSys, in Haikou, China, and highlights potential areas of improvement within the Ouroboros consensus model. Topl has already integrated Taktikos into its chain to enhance the security and scalability of its protocol.Unlike many advancements in the blockchain space, which are typically posted without any third-party validation, Topl's research underwent a rigorous academic peer-review process. The findings were vetted by leading researchers and will be included in the scientific literature, appearing in Springer CCIS. The manuscript will soon be available via Google Scholar alongside the rest of the Ouroboros family of protocols.“Our exploration into Ouroboros Taktikos reflects the dedication and curious spirit of the Topl team,” says Dr. Hans Behrens, Topl’s Chief Technology Officer. “For those interested in the nuances of Nakamoto-style proof-of-stake (PoS) protocols, Taktikos offers an insightful advancement. We see it as a collaborative evolution in blockchain consensus models, and we're proud of what our team has achieved together.”"The blockchain ecosystem thrives on both breakthroughs and benchmarks,” says Jon Woodard, the CEO at Wolfram Blockchain Labs. “Ouroboros Taktikos from Topl offers an insightful blend, advocating for technological advances rooted in academic credibility."About ToplTopl is a new interoperable blockchain protocol that aims to create a sustainable, inclusive economy. Its mission is to disrupt existing economic systems and empower changemakers worldwide to make a lasting, positive impact. Topl's modular, permissionless proof-of-stake blockchain is transparent, secure, scalable, and energy-efficient. Its technical innovations, including interoperability and eUTxO efficiency, pave the way for economic system innovation by connecting builders across the Topl network. The protocol's transparency, security, and flexibility make it suitable for track and trace applications, carbon and renewable energy credit exchanges, asset tokenization, and other use cases.ContactChief Marketing OfficerClay [email protected]

Oracles enable value, but they are also susceptible to value manipulation; co-founders of Cosmos-based Seda discuss their benefits and how to prevent pitfalls.

Payments provider Cuscal, through its partner Zepto, has brought new banking restrictions on cryptocurrency exchanges in Australia.

In a thrilling 2023 rumble, TMS Network (TMSN) flexes its muscles, overpowering rivals The Sandbox (SAND) and Aptos (APT). With its relentless determination and innovative prowess, TMS Network (TMSN) emerges as a force to be reckoned with in the cryptocurrency arena. This article will explore The Sandbox (SAND), Aptos (APT) and discover how the groundbreaking […]

Cuscal, the company that handles AUD on-and-off ramping for the exchange, declined to comment specifically on why it decided to pull support for Binance Australia.

The ratings agency looked at five areas of interconnectedness between the crypto ecosystem and traditional finance; its lack of firm conclusions may be telling.

CoinJoin increases privacy by combining multiple bitcoin payments from multiple spenders to produce a single transaction whose history and ownership are obfuscated.

December 7, St. Julian’s will host the event for all those interested in blockchain and cryptocurrencies in terms of business - Blockchain & Bitcoin Conference Malta. Its participants include entrepreneurs, investors, consultants and IT specialists working with blockchain and digital currencies. The event will be attended by representatives of the Government of Malta. At the beginning of the event, they will make a welcoming speech. Speakers of the conference are analysts of the cryptocurrency markets; financial and legal experts; blockchain developers; representatives of startups and large companies that use blockchain technology; cryptocurrency and venture investors. The organizer is Smile-Expo, the company that has already held more than 10 large blockchain events. Blockchain & Bitcoin Conference Malta is a part of the conference network around the world (Moscow, St. Petersburg, Kyiv, Tallinn, Stockholm and other cities). The key topic of the event will be legislation and regulation in the blockchain field. These issues will be also covered during a panel discussion, conducted by the cryptocurrency expert Steve Tendon. Among other participants: GTG Advocates Partner Ian Gauci, GANADO Advocates General Partner Max Ganado, and Managing Partner at EY Central and South East EuropeRonald Attard. Blockchain&Bitcoin Conference will be opened by the Minister of Finance’s Press Secretary Silvio Schembri speaking about how such kind of events can influence the national strategy of blockchain development in Malta. The conference will reveal other topics as well: cryptocurrency industry in Malta; DCO and smart contracts; challenges of intellectual property; decentralized economy and its global role. The Government of Malta was one of the first in Europe to announce the introduction of blockchain into state programs (in the Land Register and National Health Registries). Prime Minister Joseph Muscat repeatedly said that digital currency should be introduced at the state and the European Union levels. But business representatives and investors still have a lot of questions about the new technology. In order to help them to find answers, Smile-Expo organizes a conference in St. Julian's. More information about the event and all the latest news of the project are available on the website Link:https://malta.blockchainconf.world/en/

December 7, St. Julian’s will host the event for all those interested in blockchain and cryptocurrencies in terms of business - Blockchain & Bitcoin Conference Malta. Its participants include entrepreneurs, investors, consultants and IT specialists working with blockchain and digital currencies. The event will be attended by representatives of the Government of Malta. At the beginning of the event, they will make a welcoming speech. Speakers of the conference are analysts of the cryptocurrency markets; financial and legal experts; blockchain developers; representatives of startups and large companies that use blockchain technology; cryptocurrency and venture investors. The organizer is Smile-Expo, the company that has already held more than 10 large blockchain events. Blockchain & Bitcoin Conference Malta is a part of the conference network around the world (Moscow, St. Petersburg, Kyiv, Tallinn, Stockholm and other cities). The key topic of the event will be legislation and regulation in the blockchain field. These issues will be also covered during a panel discussion, conducted by the cryptocurrency expert Steve Tendon. Among other participants: GTG Advocates Partner Ian Gauci, GANADO Advocates General Partner Max Ganado, and Managing Partner at EY Central and South East EuropeRonald Attard. Blockchain&Bitcoin Conference will be opened by the Minister of Finance’s Press Secretary Silvio Schembri speaking about how such kind of events can influence the national strategy of blockchain development in Malta. The conference will reveal other topics as well: cryptocurrency industry in Malta; DCO and smart contracts; challenges of intellectual property; decentralized economy and its global role. The Government of Malta was one of the first in Europe to announce the introduction of blockchain into state programs (in the Land Register and National Health Registries). Prime Minister Joseph Muscat repeatedly said that digital currency should be introduced at the state and the European Union levels. But business representatives and investors still have a lot of questions about the new technology. In order to help them to find answers, Smile-Expo organizes a conference in St. Julian's. More information about the event and all the latest news of the project are available on the website Link:https://malta.blockchainconf.world/en/

An introduction to the bitcoin currency The bitcoin digital payment currency was launched in 2009 by an anonymous individual simply known under the alias 'Satoshi Nakamoto'. It started as an open source software but has grown to become a digital currency which is now used across the globe. The currency is the first decentralised cryptocurrency. Instead of a central administration, the currency relies on transactions which take place directly between peers, without the need for an intermediary management process, such as a bank. In order to verify these transactions, network nodes are recorded in a publicly accessible ledger, which is known as a blockchain. Bitcoins are created though mining, which is a reward process. The currency can then be exchanged for other services, products or even traditional currencies. The bitcoin is gradually becoming accepted by an increasing number of merchants as payment. However, the majority of bitcoin owners are holding on to the currency as an investment. History of the bitcoin The first mention of bitcoin was on 18th August 2008, when the bitcoin.org domain name was created. This was closely followed by an academic paper written by Nakamoto, which introduced bitcoin as a peer to peer electronic currency. Over the remainder of 2008 the information spread across cryptography networks and in January 2009 Nakamoto released the bitcoin open source code. The first bitcoin was purchased by Nakamoto who mined the genesis block for 50 bitcoins. Nakamoto mined a further 1 million bitcoins before disappearing - currently his identity is still unknown. Today, Gavin Andresen is the lead developer of the Bitcoin Foundation and stands as the community's public face. On 1st August 2017 the bitcoin currency was split into two digital currencies known as Bitcoin Cash (BCH) and the classic bitcoin (BTC). Why is Satoshi Nakamoto anonymous? It is thought that there are two reasons for Nakamoto keeping his or her identity unknown. The first is for privacy, as bitcoin becomes more popular across the world it is likely the founder would be subjected to large amounts of media coverage. The second reason is safety, due to the large values of currency involved. In the first year of bitcoin mining it is estimated that around $900 million worth of bitcoins were created. During this period it is likely that Nakamoto was one of only a handful of miners, which means he would have benefited significantly. The vast amounts of money involved could make Nakamoto a target for criminals. Why is bitcoin so popular? Bitcoin is seen by many people as the first successfully implemented distributed cryptocurrency. It is based upon the idea that a currency can be any object or record that can be accepted as payment for services or goods. The bitcoin currency is designed around the use of cryptography to manage the transfer and creation of currency, instead of relying upon one central authority. This means that many people benefit from the ease of transferring funds across the internet without the reliance of a third party, which demand high transaction fees. Why are bitcoins seen as valuable? Many holders of bitcoin have purchased or invested because it is a useful currency and it is scarce. Although they are scarce, the value relies heavily on the public's confidence in the currency. As an increasing number of merchants begin to accept bitcoin, the trust increases - this means the value also rises in line with this. How to get started with bitcoin If you are new to bitcoin it is not essential to understand the minor technical details. Most new users start by downloading a bitcoin wallet to their computer or mobile device and create a bitcoin address. How to get bitcoins The most common way to purchase bitcoins are through the popular bitcoin exchanges, which allow you to purchase or trade for a traditional country's currency. There are also several bitcoin ATMs around various countries and a bitcoin local directory of people who will accept cash in exchange for bitcoins. A number of businesses choose to accept bitcoins as payment for their services as a way to gain their own supply of bitcoins. Investing in bitcoins Many people are beginning to believe that digital currencies will increase in popularity in the future. The exchange rate between bitcoin for traditional currencies attracts many potential investors, who are interested in benefiting from currency fluctuations. Similar to all assets, the principle of purchasing while the price is low and selling when it increases applies to the bitcoin currency. Many people are purchasing bitcoin for a potential investment value rather than to use it as a form of payment. This is due to the large rises of value in May 2011 and again in November 2013; investors are hoping that large rises will happen again in the near future. What are the denominations of the bitcoin currency? Bitcoins are different to other currencies as they are highly divisible. As bitcoin is decentralised there is no official organisation to set and name the specific denominations. This has led to a number of names being created for the many smaller units, which are increasing in trade popularity. The most widely used units are bitcoins, bits and also satoshi. Using this system, 1 bitcoin is equal to 1000000.00 bits, with 1 bit equal to 100000000 satoshi. A single satoshi is usually abbreviated to 'sat' and is the smallest unit in circulation within the bitcoin network. How does a transaction work? Bitcoin transactions are defined by inputs and outputs. A bitcoin owner sends an output of bitcoins to a designated address, with the input referring to the owner's unspent amount of currency within the blockchain. This works in a similar way to common cash transactions, with multiple inputs similar to multiple coins. If change is required from the exchange this is sent as an additional output back to the original sender. How much will the transaction fee be? The transaction fee is based on the data storage size needed for the transaction to be generated and also on the demands of the network at that given time. This varies according to the number of inputs needed and also the age of the unspent inputs. The transaction fee is paid to the first bitcoin minor, which mines the block relevant to that specific transaction. It is not a good idea to pay a fixed fee for a transaction as there will be several considerations to take into account during the actual transaction processing period. If your bitcoin wallet estimates a high fee it is probably because your wallet contains a number of small coins, which means a higher number of inputs will be needed for the transaction. How does bitcoin ownership work? Bitcoins are registered to individual bitcoin addresses, which are known as random private keys. To spend bitcoins the owner must be able to enter their private key and digitally sign for the transaction. The bitcoin network will then verify the transaction through the signature and the public key. If an owner loses their private key there is no way to recover it, this means that any currency owned will be lost and become inaccessible. There has been a number of high profile cases where holders of bitcoins have lost large sums of money because they have lost their private keys. What is mining? Mining is a service which holds the records of a bitcoin transaction, with miners being the people that verify transactions and ensure the blockchain is accurate. The miners collect new transactions into blocks, with each block containing a cryptographic hash of the last block. The system uses the widely known SHA-256 hashing algorithm. The chain uses a proof of work system which makes it almost impossible to modify block information. The proof of work system requires the miners to discover a number known as a nonce - they are then rewarded. How are bitcoins supplied and held? When a miner successfully finds the next block they are rewarded with newly created bitcoins. For a miner to claim their reward a coinbase transaction is carried out, which is then included alongside the processed payments. All of the bitcoins which are in circulation have been created through this method. Every time 210,000 new blocks have been created the reward for mining a block is halved. Eventually a limit of 21 million bitcoins will be reached by roughly 2140, at this point there will be no reward for mining new blocks. A digital wallet is used to store the bitcoins' credentials, although several types of wallets are used. A software wallet is the most commonly used and allows users to spend bitcoins and also hold the credentials to prove they are the owners of the currency. There are also online only wallets and physical wallets which allow the holder to spend their bitcoins offline. What is the blockchain? The blockchain is a publicly accessible ledger which is used to openly record bitcoin transactions. The blockchain is updated through a network of intercommunicating nodes which all run the bitcoin software. The network nodes validate transactions which are then applied to their blockchain ledger. A new block of transactions is added to the blockchain roughly 6 times per hour, and this information is then sent to all network nodes. Will more blocks be created when no more currency is generated? Although it is predicted that the last block in the blockchain will be created in roughly 2040, the use of transaction fees will mean new blocks are still valuable to miners. It is predicted that creating new blocks will become more valuable from the fees than the current creation of coins. This means that the transaction fees will be able to sustain the currency and its associated network. There is no limit to the number of blocks which are able to be mined. Can bitcoins be lost? The bitcoin currency is based on the economic laws of supply and demand. If a user loses some of the bitcoin currency, this will make the remaining currency in the network more valuable as a form of compensation. As the value of a single bitcoin starts to increase the cost of purchasing a service or item will then decrease, based on the popular deflationary economic model. This means bitcoins are not as susceptible to inflation as other traditional currencies. Bitcoin volatility Bitcoin suffers from price volatility similar to all commodities and currencies. It is estimated that bitcoin has a volatility seven times greater than gold and roughly 18 times higher than the US dollar. The largest period of volatility occurred in 2011 when the value of a bitcoin rose rapidly from $0.30 to $32 before quickly decreasing to $2. How do tax regulations work? As bitcoin works without a centralised processing system it is impossible to enforce any specific restrictions, although certain activities can still be criminalised. Each country has its own legal status regarding the use of bitcoins, although many have yet to define or tackle the rules which govern its use. There are countries which allow the use of bitcoins and offer completely free trade, on the other hand some have completely banned the currency. The regulations which apply to bitcoin are not unusual, and extend to most cryptocurrency systems. What if a new digital currency becomes more popular? There is always a chance with virtual currencies that another could be created, and this would make an older and less superior one obsolete. During the development of bitcoin a large amount of careful ingenuity has been used. However, it is the first currency of its kind and so competitors will always be looking to take over. Bitcoin aims to stay ahead as the primary virtual currency, but as with all currencies there can be no complete guarantees. As bitcoin rises in popularity and becomes more widely used it is gaining stability and wide acceptance across the world. This helps protect the currency and means new competitors pose little effect, thanks to the network effect bitcoin is creating. Featured Image Source: Flickr - Great Image By Zach Copley

An introduction to the bitcoin currency The bitcoin digital payment currency was launched in 2009 by an anonymous individual simply known under the alias 'Satoshi Nakamoto'. It started as an open source software but has grown to become a digital currency which is now used across the globe. The currency is the first decentralised cryptocurrency. Instead of a central administration, the currency relies on transactions which take place directly between peers, without the need for an intermediary management process, such as a bank. In order to verify these transactions, network nodes are recorded in a publicly accessible ledger, which is known as a blockchain. Bitcoins are created though mining, which is a reward process. The currency can then be exchanged for other services, products or even traditional currencies. The bitcoin is gradually becoming accepted by an increasing number of merchants as payment. However, the majority of bitcoin owners are holding on to the currency as an investment. History of the bitcoin The first mention of bitcoin was on 18th August 2008, when the bitcoin.org domain name was created. This was closely followed by an academic paper written by Nakamoto, which introduced bitcoin as a peer to peer electronic currency. Over the remainder of 2008 the information spread across cryptography networks and in January 2009 Nakamoto released the bitcoin open source code. The first bitcoin was purchased by Nakamoto who mined the genesis block for 50 bitcoins. Nakamoto mined a further 1 million bitcoins before disappearing - currently his identity is still unknown. Today, Gavin Andresen is the lead developer of the Bitcoin Foundation and stands as the community's public face. On 1st August 2017 the bitcoin currency was split into two digital currencies known as Bitcoin Cash (BCH) and the classic bitcoin (BTC). Why is Satoshi Nakamoto anonymous? It is thought that there are two reasons for Nakamoto keeping his or her identity unknown. The first is for privacy, as bitcoin becomes more popular across the world it is likely the founder would be subjected to large amounts of media coverage. The second reason is safety, due to the large values of currency involved. In the first year of bitcoin mining it is estimated that around $900 million worth of bitcoins were created. During this period it is likely that Nakamoto was one of only a handful of miners, which means he would have benefited significantly. The vast amounts of money involved could make Nakamoto a target for criminals. Why is bitcoin so popular? Bitcoin is seen by many people as the first successfully implemented distributed cryptocurrency. It is based upon the idea that a currency can be any object or record that can be accepted as payment for services or goods. The bitcoin currency is designed around the use of cryptography to manage the transfer and creation of currency, instead of relying upon one central authority. This means that many people benefit from the ease of transferring funds across the internet without the reliance of a third party, which demand high transaction fees. Why are bitcoins seen as valuable? Many holders of bitcoin have purchased or invested because it is a useful currency and it is scarce. Although they are scarce, the value relies heavily on the public's confidence in the currency. As an increasing number of merchants begin to accept bitcoin, the trust increases - this means the value also rises in line with this. How to get started with bitcoin If you are new to bitcoin it is not essential to understand the minor technical details. Most new users start by downloading a bitcoin wallet to their computer or mobile device and create a bitcoin address. How to get bitcoins The most common way to purchase bitcoins are through the popular bitcoin exchanges, which allow you to purchase or trade for a traditional country's currency. There are also several bitcoin ATMs around various countries and a bitcoin local directory of people who will accept cash in exchange for bitcoins. A number of businesses choose to accept bitcoins as payment for their services as a way to gain their own supply of bitcoins. Investing in bitcoins Many people are beginning to believe that digital currencies will increase in popularity in the future. The exchange rate between bitcoin for traditional currencies attracts many potential investors, who are interested in benefiting from currency fluctuations. Similar to all assets, the principle of purchasing while the price is low and selling when it increases applies to the bitcoin currency. Many people are purchasing bitcoin for a potential investment value rather than to use it as a form of payment. This is due to the large rises of value in May 2011 and again in November 2013; investors are hoping that large rises will happen again in the near future. What are the denominations of the bitcoin currency? Bitcoins are different to other currencies as they are highly divisible. As bitcoin is decentralised there is no official organisation to set and name the specific denominations. This has led to a number of names being created for the many smaller units, which are increasing in trade popularity. The most widely used units are bitcoins, bits and also satoshi. Using this system, 1 bitcoin is equal to 1000000.00 bits, with 1 bit equal to 100000000 satoshi. A single satoshi is usually abbreviated to 'sat' and is the smallest unit in circulation within the bitcoin network. How does a transaction work? Bitcoin transactions are defined by inputs and outputs. A bitcoin owner sends an output of bitcoins to a designated address, with the input referring to the owner's unspent amount of currency within the blockchain. This works in a similar way to common cash transactions, with multiple inputs similar to multiple coins. If change is required from the exchange this is sent as an additional output back to the original sender. How much will the transaction fee be? The transaction fee is based on the data storage size needed for the transaction to be generated and also on the demands of the network at that given time. This varies according to the number of inputs needed and also the age of the unspent inputs. The transaction fee is paid to the first bitcoin minor, which mines the block relevant to that specific transaction. It is not a good idea to pay a fixed fee for a transaction as there will be several considerations to take into account during the actual transaction processing period. If your bitcoin wallet estimates a high fee it is probably because your wallet contains a number of small coins, which means a higher number of inputs will be needed for the transaction. How does bitcoin ownership work? Bitcoins are registered to individual bitcoin addresses, which are known as random private keys. To spend bitcoins the owner must be able to enter their private key and digitally sign for the transaction. The bitcoin network will then verify the transaction through the signature and the public key. If an owner loses their private key there is no way to recover it, this means that any currency owned will be lost and become inaccessible. There has been a number of high profile cases where holders of bitcoins have lost large sums of money because they have lost their private keys. What is mining? Mining is a service which holds the records of a bitcoin transaction, with miners being the people that verify transactions and ensure the blockchain is accurate. The miners collect new transactions into blocks, with each block containing a cryptographic hash of the last block. The system uses the widely known SHA-256 hashing algorithm. The chain uses a proof of work system which makes it almost impossible to modify block information. The proof of work system requires the miners to discover a number known as a nonce - they are then rewarded. How are bitcoins supplied and held? When a miner successfully finds the next block they are rewarded with newly created bitcoins. For a miner to claim their reward a coinbase transaction is carried out, which is then included alongside the processed payments. All of the bitcoins which are in circulation have been created through this method. Every time 210,000 new blocks have been created the reward for mining a block is halved. Eventually a limit of 21 million bitcoins will be reached by roughly 2140, at this point there will be no reward for mining new blocks. A digital wallet is used to store the bitcoins' credentials, although several types of wallets are used. A software wallet is the most commonly used and allows users to spend bitcoins and also hold the credentials to prove they are the owners of the currency. There are also online only wallets and physical wallets which allow the holder to spend their bitcoins offline. What is the blockchain? The blockchain is a publicly accessible ledger which is used to openly record bitcoin transactions. The blockchain is updated through a network of intercommunicating nodes which all run the bitcoin software. The network nodes validate transactions which are then applied to their blockchain ledger. A new block of transactions is added to the blockchain roughly 6 times per hour, and this information is then sent to all network nodes. Will more blocks be created when no more currency is generated? Although it is predicted that the last block in the blockchain will be created in roughly 2040, the use of transaction fees will mean new blocks are still valuable to miners. It is predicted that creating new blocks will become more valuable from the fees than the current creation of coins. This means that the transaction fees will be able to sustain the currency and its associated network. There is no limit to the number of blocks which are able to be mined. Can bitcoins be lost? The bitcoin currency is based on the economic laws of supply and demand. If a user loses some of the bitcoin currency, this will make the remaining currency in the network more valuable as a form of compensation. As the value of a single bitcoin starts to increase the cost of purchasing a service or item will then decrease, based on the popular deflationary economic model. This means bitcoins are not as susceptible to inflation as other traditional currencies. Bitcoin volatility Bitcoin suffers from price volatility similar to all commodities and currencies. It is estimated that bitcoin has a volatility seven times greater than gold and roughly 18 times higher than the US dollar. The largest period of volatility occurred in 2011 when the value of a bitcoin rose rapidly from $0.30 to $32 before quickly decreasing to $2. How do tax regulations work? As bitcoin works without a centralised processing system it is impossible to enforce any specific restrictions, although certain activities can still be criminalised. Each country has its own legal status regarding the use of bitcoins, although many have yet to define or tackle the rules which govern its use. There are countries which allow the use of bitcoins and offer completely free trade, on the other hand some have completely banned the currency. The regulations which apply to bitcoin are not unusual, and extend to most cryptocurrency systems. What if a new digital currency becomes more popular? There is always a chance with virtual currencies that another could be created, and this would make an older and less superior one obsolete. During the development of bitcoin a large amount of careful ingenuity has been used. However, it is the first currency of its kind and so competitors will always be looking to take over. Bitcoin aims to stay ahead as the primary virtual currency, but as with all currencies there can be no complete guarantees. As bitcoin rises in popularity and becomes more widely used it is gaining stability and wide acceptance across the world. This helps protect the currency and means new competitors pose little effect, thanks to the network effect bitcoin is creating. Featured Image Source: Flickr - Great Image By Zach Copley

If you invest in cryptocurrencies, it is beneficial to store them in a wallet. This will help to protect your investment; however, knowing which wallet to choose can be somewhat confusing. For more basic information regarding what a cryptocurrency wallet is, and how it works, please see our other guides, where we go into more detail. For now, we will be focusing on what types of wallets are available to you, how they differ, and which one is right for you. Before we take a look at the different types of cryptocurrency wallets, and the advantages and disadvantages of them, we will just run through a few additional wallets, as background information, which will then help you when we come onto the different types of wallets available to you. Cryptocurrency Wallet Categories Hot and Cold Wallets: Quite simply, a hot or cold wallet refers to whether the wallet is connected to the internet or not. Hot wallets are connected to the internet, and because of this, poses more risks, and are seen to be less secure; however, they are more user friendly. On the contrary, cold wallets are not connected to the internet, and are wallets that are stored offline. This comes with a lot less risk and have improved security; however, they are best compared to a vault or a safe, where you would store larger sums of money, as opposed to a wallet that you would carry around with you on a day to day basis for simple transactions. For day to day transactions, you are much more likely to use hot wallets, as opposed to cold wallets, and cold wallets for more long-term holdings. Multisig Wallets: Multisignature wallets, which are more fondly known in the field as multisig wallets, and as the name suggests, they require more than one signature in order to complete the given transaction. This is considered to be an additional security feature, as you will not be able to access the account without all of the signatures. You should consider a multisig wallet to be much like a shared bank account, where no transactions can be made unless all of the parties have entered their PIN, or signed for a withdrawal. This is exactly the same context for the Bitcoin wallet, and is therefore ideal for families and businesses. Multicurrency Wallets: Multicurrency wallets are fairly self-explanatory, and simply allow you to hold and store more than one crypto currency. These are great if you have several different coins, as you do not have to have multiple wallets, and can instead store them all in one place. Some multicurrency wallets have added features that will allow you to convert one cryptocurrency into another; for example, if you have existing Bitcoins that you want to convert into Ether, you can with some multicurrency wallets. However; not all wallets will offer this feature, so if this is something that you are wanting, it is important to research the different wallets in order to make this easier. If you have already picked one though, and wish to convert some coins into a different currency, this is still possible, but it requires additional steps which you will have to complete online. Public and Private Keys: All cryptocurrency is represented by an entry in the blockchain, which is associated to a public key; but, in order for you to move your cryptocurrency around, whether that is to exchange it, or to convert it to another currency, you will require your private key to unlock it. You will usually find your private key in your crypto wallet. One thing that is worth bearing in mind is that your private key is the only way in which you can access your funds, and if you lose this, all of your cryptocurrency is lost. Some private keys are kept offline, to prevent them from getting hacked, so it is important that you carry out research and make an informed decision as to where you wish to store your key when you choose your wallet. Different Types Of Cryptocurrency Wallets Online Wallet An online wallet is sometimes referred to as a Web Wallet, and is one that you access via your web browser. This should not be confused with hot wallets, which, although they are online, does not refer to all online wallets. Online wallets also refer to mobile and desktop wallets, and are any that you access via an internet connection. The same applies with hot wallets though, and online wallets should not be used to store large amounts of currency in, as they are more at risk of becoming hacked. To help you decide whether an online wallet is for you or not, we have highlighted a few of the advantages and disadvantages… Advantages: You can complete your transactions very quickly. This is because you have instant access to your wallet. Some have the ability to store and manage a range of different currencies and allow different transfers between them. Online wallets also allow your currency to be directly integrated into an exchange. If you only have small amounts invested in cryptocurrencies, online accounts are ideal. You can use a TOR network for added Privacy A TOR network is a well-known and trusted anonymity network. You do not have to install any software on your PC, as it is all stored online. One of the biggest advantages is that they are so accessible. There are often mobile apps that you can download onto your phone that will allow you to access your cryptocurrency wallet on the move. Disadvantages: It is not a good idea to store large amounts of money in an online wallet, so if you are looking for a long-term place to store a high investment in, online wallets are not ideal and should be avoided. You are more at risk of being hacked and are susceptible to phishing scams, malware, DDOS attacks and outdated security measures. There are a lot of risks associated with doing anything online, as it leaves your computer completely open to viruses, which can affect your wallet. You can reduce this risk keeping your software up to date, and not using internet café’s etc – the usual things you would do to help keep any financial transactions secure. Take advantage of two step authentication, and always enable it if it is available to you. You do not have control of your wallet. Because it is online, it is effectively stored on a third party, which does not come without it’s risks. Mobile Wallets: As the name suggests, mobile wallets can be used on a mobile device, and allows you to access your wallet on the move. One of the great things about mobile wallets is that they can often provide more features than wallets that are purely internet based. That is not to say that they do not come without risks. Advantages: They are among the easiest of the wallets to use, and much more practical. They can be used on the go, which is great if you are regularly making transactions. Just like the online wallets, you can use a TOR network, which will help increase anonymity and security. Many mobile wallets will offer additional features that simply are not available with other wallets, such as QR code scanning. Disadvantages: Mobile phones are not at all secure, and there is nothing that will save your savings if your phone becomes maliciously compromised. It is wide open to malware and viruses, which can completely wipe out any cryptocurrencies that you have saved. Desktop Wallets: Desktop wallets are among the more secure cryptocurrency wallets; however, this does depend on how committed you are on keeping up to date with the latest online security measures. Any laptop or computer; however old or young that has once been connected to the internet, even if it is not connected now, will come with a certain amount of risk, unless of course you completely clean the system, and install a new system on it. If you have a laptop that is completely clean – that is, it has never been connected to the internet, it can be used as a great cold storage method; which, if you remember from earlier is favoured to store large amounts of investment. The great thing about desktop wallets is that a lot of people have old laptops lying around, which are not being used for anything, which are ideal for desktop wallets. Advantages: It is associated with less risk, especially if the computer has never been connected to the internet. It is the ideal cold wallet to use if you are looking to store a large amount of currency somewhere. You are not relying on your private key to be stored on a third-party server, again, reducing the chances of your account being hacked and your money stolen. Desktop wallets are incredibly easy to use, unlike some. A TOR network can be used which will give you more anonymity and privacy. Disadvantages: If your computer is connected to the internet, your privacy and security are at greater risk. Because everything is held offline, if anything happens to your computer, and you are unable to fix it, you could lose all of your investment. You have to regularly back up your computer for the same reason as above. Regardless of whether you are connected to the internet, and despite the fact that a desktop wallet is considered a lower risk choice, your computer is still open to viruses and malware, which result in you losing all of your coins; which is not good if you are using this as a cold wallet to store larger amounts. Hardware Wallet: Hardware wallets are a bit of a mixed drawer in terms of popularity, and along with it come many benefits and drawbacks. They are marginally less user friendly than desktop wallets and web wallets; however, they are more secure than hot wallets, and easier to work with than paper wallets (see below). Hardware wallets come in a number of different forms, so it is important that research is carried out into your chosen hardware wallet prior to placing any of your money in there. They are; however, great for storing large amounts of cryptocurrency, so long as you do not want to move it around often. They also offer great amounts of control. Advantages: Some hardware wallets come with a screen, making them one of the most secure ways to store your cryptocurrency in the long-term. Even without, in general, hardware wallets offer greater security than many others. Disadvantages: They are often quite difficult for beginners to use; however, if you have large amounts to invest, it really is the best one. However; because of this reason, hardware wallets are often sold out. Paper Wallets: Finally, we are going to take a look at paper wallets. These used to be very popular for cold storage; however, since hardware wallets have come onto the scene, they are significantly less so. That said, paper wallets are notoriously secure, so long as you undertake very strict security precautions when initially setting these wallets up. A paper wallet is simply a document that contains all of the necessary data needed to generate Bitcoin private keys. This document can store a number of different keys; however, it allows you to keep a physical document containing this information. Advantages: They are one of the most secure choices of wallet, and are virtually hacker proof. They are not stored on a computer, which would mean someone would have to physically break into your home to gather the information required to steal your money. You do not have to worry about your private keys being stored on a third-party server, because they are on a physical document in your home. Disadvantage: You need to have a greater understanding of how wallets work Requires more effort if you wish to move your cryptocurrencies around. So, which cryptocurrency wallet is best? Deciding which wallet to use really is a personal choice. It is dependent on a number of questions, which you need to answer prior to choosing your wallet. These include; whether you need to access your wallet every day, or is it for a more long-term use? Do you wish to use several currencies, or just one? Will you need to access your wallet on the move? Once you have answered all of these, you can go about deciding which of the above wallets would be best suited to you and your needs. Just remember that regardless of which wallet you choose, to keep it as secure as you possible can, you should be backing up your wallet regularly, ensuring you are using the most up to date software, and include as many security features as you can. References and Further Reading: Hobo With A Laptop; 5 Types of Cryptocurrency Wallets Explained Bitcoin Exchange Guide; The Various Types of Bitcoin Wallets And Exchanges Bitcoin Wiki; Multisignature CryptoCurrency Facts; What is a Cryptocurrency Wallet? Comodo; Public Key And Private Keys Lifehacker; What is Tor and Should I Use It? Bitcoin Wiki; Paper Wallet Techco; Choosing a Bitcoin Wallet: The Basics Blockgeeks; Cryptocurrency Wallet Guide: A Step-By-Ste