Zcash(ZEC)

ZEC has had the most delistings among privacy tokens in the past two years, causing market fragmentation.

XMR, ZEN, ZEC and seven other cryptocurrencies are at risk of being delisted from Binance's platform.

Monero (XRM), ZCash (ZEC), and Dash (DASH), are some of the assets involved in the process.

Amidst the flurry of activities and developments in the crypto ecosystem, we will be exploring the most notable ones in this post. We will begin with Zcash’s (ZEC) developer company appointing a new CEO. Further, we will explore the rising interest in Filecoin (FIL) and InQubeta (QUBE) among top investors. […]

BitPanda already holds a license in Austria, Germany, France, the Czech Republic and Sweden.

Bitcoin Spark (BTCS) has gained significant traction in the crypto community. And according to some industry watchers, Ethereum (ETH) and ZCash (ZEC) miners might be looking forward to starting mining Bitcoin Spark. Recent Ethereum Developments Steven Nerayoff, the former Ethereum advisor, recently accused Vitalik Buterin, one of Ethereum’s co-founders, of fraud and character assassination. Nerayoff […]

[PRESS RELEASE – Prague, Czech Republic, July 8th, 2023] Leading proprietary trading firm HyroTrader is actively seeking talented crypto traders to join its team and take advantage of the opportunity to get funded. With a proven track record and a commitment to ongoing success, HyroTrader offers a lucrative platform for traders to showcase their skills, […]

Co-founder of Ethereum infrastructure service Flashbots Alex Obadia has warned of serious challenges ahead for the company in a farewell letter posted on his Twitter handle. Obadia’s departure comes amidst sweeping personnel changes at Flashbots as the company looks to raise funds at a valuation of $1 billion. Serious Challenges Ahead Flashbots was founded to counter the negative consequences of MEV extraction techniques on Ethereum. Alex Obadia, one of the company’s co-founders and co-lead of the strategy division, announced his departure from the Paradigm-backed company. In a farewell letter posted on Twitter, Obadia offered his thanks and gratitude towards the company, along with the friendships built and lessons learned. However, he also used the letter to warn of serious challenges that lay ahead for the company. In the letter, Obadia stated that the system Flashbots was designed to protect was still vulnerable to centralization. “The system we committed to protect is still vulnerable to centralization from phenomena such as cross-domain MEV and exclusive order flow. To top it off, as we’ve grown into an incumbent, we now also need to protect the system against ourselves to avoid becoming the very Moloch we’re fighting against.” Obadia was one of the earliest employees at Flashbot after it was founded in 2020 and held the formal title of “founding steward” of the company. However, he did not dwell on the reason why he was leaving the company, stating, “I leave for multiple reasons, some more personal than others, but really what it boils down to is that I feel my vision and values will be better served somewhere else. We’ve often had differing opinions within leadership, and that has been part of our strength. However, I believe we will now achieve better results going our separate ways.” A Flashbots representative thanked Obadia for his contributions towards the company, Flashbots ecosystem, and the crypto industry in general. Obadia has suggested that he is open to collaborating with Flashbots in the future. A Fund Raise In The Works Flashbots creates software that facilitates the extraction of MEV or Maximal Extractable Value, which is extra profit that can be earned by strategically ordering how the transactions are organized into blocks that are written to the blockchain’s ledger. Flashbot’s MEV-Boost middleware is used by nearly all validators that help in Ethereum operations. Furthermore, the upcoming SUAVE network also aims to offer similar MEV-extracting functionality to other major blockchains. Flashbots is also on the verge of announcing a Series B funding round. The round will reportedly value the firm at $1 billion. It will help secure funding for MEV research and development as Flashbots works towards the launch of SUAVE and their vision to democratize and distribute MEV to other blockchains. Sweeping Personnel Changes With the impending Series B funding round looming, Flashbots has also seen significant personnel changes. One of the most high-profile new hires is Andrew Miller. Miller joins the Flashbots team as a research lead and will work on Trusted Execution Environments and SUAVE. Miller is also well known for being one of the researchers who successfully broke Intel’s SGX code. This required a significant and massive overhaul of the secret blockchain and had security ramifications far beyond the crypto ecosystem. Miller has also been working as the associate director of the Initiative for Cryptocurrencies and Contracts (IC3). He is also the assistant professor of electrical and computer engineering at the University of Illinois, Urbana-Champaign, from where he will be taking a leave of absence as he gears up to take his new role with Flashbots. Other prominent hires joining Flashbots are Daniel Marzec, an engineer at Blocknative, another major MEV industry player, and Danning Sui, formerly the head of data science at the decentralized finance (DeFi) firm 0x. Marzec will be joining Flashbots as a research engineer, while Sui will lead the Flashbots’ data science team. So far, Flashbots has added 13 new team members over the past six months, taking the total size of the team to over 50. A representative for Flashbots stated, “Flashbots is working closer towards its goal to illuminate, democratize and distribute the dark forest.” Dark Forest refers to the competition between different blockchain players to squeeze out MEV. 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.

The nonfungible token platform was launched in partnership with Near Protocol.

[PRESS RELEASE – Prague, Czech Republic, May 25th, 2023] Conference and Hackathon set for June 3-5 to start Prague Blockchain Week  Gateway to Cosmos 2023 announced today the speakers and sponsors for the three-day in-person conference and hackathon in Prague June 3-5 that will bring together top Web3 minds to shape the future of Cosmos, […]

[PRESS RELEASE – London, UK, April 28th, 2023] AmazeWallet has seen a significant increase in the number of miners using their mobile phones to validate transactions on AmazeChain, the app’s proprietary Layer 1 blockchain. The number of users running light nodes to decentralize and secure the network has shot up to over 11,000 during the […]

London, UK, April 28th, 2023, ChainwireAmazeWallet has seen a significant increase in the number of miners using their mobile phones to validate transactions on AmazeChain, the app’s proprietary Layer 1 blockchain. The number of users running light nodes to decentralize and secure the network has shot up to over 11,000 during the past week. Light node technology makes it possible for anyone to validate the blockchain from anywhere in the world.The 3,293% growth in the number of testnet miners validating transactions on AmazeChain is particularly impressive given the AmazeWallet app is yet to have its full launch, which is scheduled for mid-June. Overall, nearly 100,000 test users have downloaded the app since it launched on the testnet in November 2022.The positive news comes amid other signs of strong pre-launch momentum for AmazeWallet. The company has already signed partnerships with OnRamp, a major DEX aggregation platform, two centralized token exchanges and a string of top international artists who will produce work exclusively for AmazeWallet’s native NFT marketplace.Alongside these significant partnerships, AmazeWallet recently attended and presented at both the Global Blockchain Congress and ETH Dubai, where the wider Web3 world got to hear first-hand about the super-fast verification calculations that make mobile mining possible.Until now, users have been testing the network’s capacity by staking testnet tokens. In turn, AmazeWallet is rewarding the top testnet miners with a Genesis NFT. It’s all in the name of a final stress test for AmazeChain’s advanced sharding technology, which is capable of processing over 300,000 transactions per second.After more than six years of building and multiple technological breakthroughs, such as sharding, layering and ZK proofs, the ecosystem is nearly ready. Soon, users worldwide can contribute to network security and decentralization, in return for daily rewards in AMT tokens.Revolutionary tech, truly decentralizedWhile older generation blockchains like Ethereum and Bitcoin offer a form of semi-decentralization, AmazeWallet ensures a true dispersion of power by spreading it globally, at a fraction of the costs we usually see with other chains, and with better performance. Unlike with the legacy networks, anyone can start securing the network, with their phone acting as a full node connected directly to AmazeChain. All they need to do is download AmazeWallet to their mobile and stake the native token AMT.AmazeWallet COO Ed Ball sees the technological breakthrough as the new standard in blockchain capability, the next era of worldwide networks that everyone can participate in.‘We're excited for more people to join our beta test, run a node and try out this new technology. We’re bringing the benefits of blockchain to everyday users, not just the select few with coding knowledge. Everyone should trust their digital tools and we’re all entitled to self-sovereignty online. The new generation of infrastructure must be more efficient and mobile, easy to access for anyone.’A worldwide team of more than 400 coding contributors began work on AmazeChain over six years ago, many of them alumni from tech giants like Google, Apple, Amazon, Tencent and Dell. With their vast shared experience, they identified older blockchains’ limitations, but also recognised their successes. They learned from both and made AmazeChain fully capable of dealing with users’ needs.AmazeWallet is leading the industry forward with an easy-to-use, fully integrated ecosystem where application and blockchain work together in sync. The benefit for the users: blockchain security, transaction speeds for the modern world, and the chance to participate in the network in return for rewards. It’s everything people expect, just more.AmazeWallet features and roadmapAmazeWallet is a mobile app that acts as the portal to AmazeChain. It has four key features that cover the most important areas of the Web3 landscape:Mining: stake AMT, validate blocks, receive rewards.Wallet: hold and swap tokens across 60+ blockchains.NFTs: mint for free, build a following, trade digital assets.Messaging: 364-bit quantum-resistant chat between friends.In time, AmazeWallet will add new features and upgrade the current ones. Although the app’s full launch is planned for the middle of June, the team is already planning AmazePay, for which they’ve recently been granted a license in Canada in preparation for testing. People will be able to integrate their crypto holdings into everyday life. Paying for groceries, buying food, transport, online goods and ordering that all-important coffee in the morning.Every time users open the AmazeWallet app, they can validate blocks to receive daily AMT rewards. App users who have staked AMT can begin mining the native chain for daily mining rewards when the app launches on mainnet this quarter.About AmazeAmaze was founded in 2017 and is made up of 75 engineers, designers, marketers and executives. The ecosystem comprises a mobile app and blockchain. Together, the two products set a new standard for self-custodial management in digital life. The native AMT token was launched in 2023 and the AmazeWallet app will receive its full launch later in the year. Amaze places real ownership and control back in users’ hands, using Web3 technology that anyone can access. With AmazeWallet and AmazeChain working together in sync, people can curate their digital lives, securely and safely.Start using AmazeWalletDownload AmazeWallet on AndroidDownload AmazeWallet on iOSTo take ownership of your digital life, visit AmazeWalletFollow us on social media Twitter l Discord l TelegramContactCharlie [email protected]

Prague, Czechia, April 25th, 2023, ChainwireBTC Prague will bring leaders in the bitcoin community worldwide to the Czech capital to map the future of digital currency. The largest bitcoin conference in Europe will be held from 8 June to 10 June 2023.A projected 10,000 attendees have the opportunity to hear from and meet with more than 100 leaders in the BTC community and network with more than 100 companies. In addition to the speakers and exhibition space, many side events are planned, including dev/hack/day."We may be a small nation of only 10 million, but the Czechs have been leading the way to financial freedom through bitcoin from the very beginning," said Martin Kuchař, co-founder and co-organizer of BTC Prague. He added examples of what was developed in Czechia. "The first BTC mining pool, Braiins, Trezor, the first hardware wallet, and bip39, used to create encryption keys for hardware wallets. We are also the home of the world's largest BTC ATM manufacturer, General Bytes, and Tropic Square, the first open-source transparent secure chip will be launched from here shortly," listed Kuchař.The essential topics for the main stage include technology, sound money, freedom, community, and the organizers of BTC Prague have already secured more than 80 high-profile speakers."Top industry leaders are coming to Prague to discuss the future of money, technology, and freedom. With superstar speakers like Michael Saylor, Adam Back, and Anita Posch, this event promises to be a game-changer with exclusive insights and cutting-edge ideas from the world's leading voices in bitcoin, freedom, and innovation," emphasized Kuchař.Confirmed speakers include:Investor Michael Saylor, in his first European appearance, talking about the future and investment case for bitcoinTechnologists Adam Back and Jan Čapek talking about Innovations in the mining industry, and Pavol Rusnák and Marek Palatinus talking about open source and freedom aspects of moneyEntrepreneurs Jameson Lopp, Giacomo Zucco, Roya Mahboob, Sophie von LaerResearcher Peter Todd talking about possible attack vectors for the bitcoin networkPhilosophers Robert Breedlove, Aleks Svetski and Knut Svanholm discussing low-time preference, warrior culture, and praxeologyPodcasters Roman Reher, Lunaticoin, Jakub Vejmola and Rogzy, Rikki, the best and most influential European bitcoin podcasters Human rights activist Lyudmyla Kozlovska explaining how bitcoin helps raise funds against oppressive regimes, and Peter Young showing a different way of creating functional societies.Educators Anita Posch and Mahassin L. Quadri sharing their experiences about educating in AfricaEconomists Rahim Taghizadegan and Matthew Mežinskis sharing their views on the economics of today and tomorrow's worldThe sample of speakers mentioned above confirms that the conference is bringing the most prominent bitcoin voices to Europe and the whole spectrum of the bitcoin community, from entrepreneurs, OG researchers, CEOs, authors, and bitcoin influencers, to philosophers and educators, developers, MC's and freedom fighters. All of them are coming to BTC Prague and thus bringing the bitcoin community closer together.BTC Prague will also feature an exhibition space for companies to connect and network. The exhibition space will allow people to discover the wide range of companies in the bitcoin ecosystem, do business, find a job, or learn about the bitcoin community. The presence of more than 100 companies is expected.Prior to the start of the conference, on 7 June, the organizers will hold a dev/hack/day. Organized with Pavol Stick Rusnák, Co-founder of Satoshi labs, dev/hack/day is intended for all tech heads, inquiring minds, nerds & geeks. It will be a day full of talks bringing breakthrough ideas and workshops, where participants can put their hands on cutting-edge technologies. More than 500 developers are expected to attend."We believe in freedom, self-sovereignty, equity, and decentralization, as well as in knowledge, innovation, and progress. We value the future over the present. We believe in healthy, thriving economies and societies. We believe all the above will benefit from having good money again after decades. We believe in bitcoin," said Kuchař.About BTC PragueWith over 10,000 attendees projected, the inaugural BTC Prague will be the largest conference dedicated to bitcoin in Europe. Attendees will have the opportunity to learn from more than 100 speakers, including business leaders, developers, influencers, and educators from all over the world. More than 100 companies are projected to exhibit in the exhibition hall.For more information on BTC Prague, visit btcprague.comFollow BTC Prague on LinkedIn | TwitterContactCo-founderMartin KuchařBTC [email protected]

If you know about the popular cryptos, you mostly would have heard the names of Ethereum (ETH) and Zcash (ZEC). While Zcash (ZEC) is based on privacy, Ethereum (ETH) focuses on programmable contracts and money. Uwerx is a freelance project in its presale stage that is attracting equal interest. After struggling through a bearish 2022, cryptos are slowly showing signs of recovery. While Ethereum (ETH) remains strong, Zcash (ZEC) has not yet recovered. Of the three, Uwerx has the best future outlook due to several key factors. Here is detailed info on the three cryptos and their investment potential. Ethereum (ETH) Shows Strong Resiliency As per Ycharts and Nasdaq data, the Ethereum network saw a higher transaction volume than Bitcoin in 2022. The trend continues in 2023 with Ethereum (ETH) having a 24-trading volume of $6,411,690,735. Priced at $1,949, Ethereum (ETH) has retained its popularity because of its programmability. Users find it beneficial for making transactions while developers can use smart contracts for creating exciting projects. As per crypto experts, the price of Ethereum (ETH) is expected to increase in 2023 up to $2,000. The Rise and Fall of Zcash (ZEC) Zcash (ZEC) is popular for its anonymity and privacy. The decentralized crypto uses zk-SNARK technology that enables the verification of transactions anonymously. Founded in 2016, people know Zcash (ZEC) due to the privacy it offers, which is not available with cryptos like Ethereum (ETC) or Bitcoin (BTC). Zcash (ZEC) is priced at $38.49- when it was launched, it was priced at $5,000. But since then, its price has decreased and has stabilized at a range of $40-$70. While 2021 was a good year for Zcash (ZEC) , its value saw a sharp downturn in 2022 and is yet to recover. The future outlook for Zcash (ZEC) is positive with analysts expecting it to rise again. Uwerx (WERX) Is a Lucrative Investment Option As a crypto in its presale stage, Uwerx shows promising growth potential. The freelance platform will be built on the Polygon network. It appeals to investors due to its low fees, greater record storage transparency, and enhanced security and trust. Priced at $0.0065, Uwerx will have its liquidity locked when its presale ends and thereafter for 25 years. It is considered a worthwhile investment option as its fundamental design shows immense potential for further development. Further, seasoned investors know that investing early in such projects can provide substantial profits. Advantages of Uwerx (WERX) Due to the unique freelancing concept and the robust structure, Uwerx has a high likelihood of becoming a leading blue-chip crypto. For investors, Uwerx presents a splendid opportunity to earn considerable profits by investing in it now. Further, the news of its audit by InterFi Network and Solidproof even before its launch is an encouraging sign. Moreover, smart contracts’ ownership will be abandoned by the team following a reduction in taxes to zero. Uwerx will also have its liquidity locked for 25 years from the time of the conclusion of its presale. Uwerx Presale: A Potential Profit Generating Event in 2023 As per analysts, Uwerx can increase by 8,500% in 2023 and alter the freelancing market. While Ethereum (ETH) and Zcash (ZEC) are pretty old cryptos, their future outlook is not as good as Uwerx. We strongly believe investing in it now will ensure buying the coin at an extremely good price. Although Ethereum (ETH) has a positive price prediction for 2023, investing in Uwerx, which has a higher growth probability, is a better option for investors. Visit the Uwerx presale now to earn a 25% purchase bonus and enter a $5,000 prize draw! Presale: invest.uwerx.network Telegram: https://t.me/uwerx_network Twitter: https://twitter.com/uwerx_network Website: https://www.uwerx.network/ 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.

Now that you understand the basics of Bitcoin, the next logical step is to actually get some. But how? This brief guide will teach you all you need to know. At present, Bitcoins are either bought directly from other people through marketplaces, or purchased at a Bitcoin exchange. They can be paid for in a number of ways, from cold, hard cash, to debit and credit cards, to a wire money transfer, and even using other cryptocurrencies. It largely depends on where you live and from whom you’re buying your Bitcoins. How can I buy Bitcoins? Despite the popularity of Bitcoin as the world’s leading cryptocurrency, and the serious discussion of it at many financial centres around the globe, it remains surprisingly difficult to use PayPal or your credit card to purchase Bitcoins, depending on the jurisdiction in which you live. Of course, the reason has less to do with Bitcoin, and more to do with the transaction methods themselves. These sorts of purchases can be easily reversed with nothing more than a telephone call to the card company, or by raising a report with PayPal. When you’re talking about the transfer of Bitcoins, it is difficult to prove that any goods have actually changed hands. This is the reason most private sellers, and almost all Bitcoin exchanges, do not accept credit cards or PayPal for such transfers. That said, the options have recently grown for consumers in certain countries. Where do I keep my Bitcoins? Before you think about buying Bitcoins, you’re going to need to get a Bitcoin wallet. Though ‘wallet’ is the accepted terminology, you’re better off thinking of it as a sort of bank account, specifically for your Bitcoins. As with any such set-up, there are different wallets you can choose from depending on the level of security you require for your funds, with some of the higher-specification wallets attracting a higher fee to initialise and run. Some wallets act like a regular spending or current account, and can be reasonably compared to a regular leather wallet. Other accounts include the sort of encryption and security that would not seem out of place in a major financial centre, or even in the military. There are four main types of Bitcoin wallet: • A software wallet, which remains stored on your computer’s hard drive • A web-based, online wallet • A vault wallet, which protects your Bitcoins by keeping the wallet offline • A multisig (that is, a multiple-signature) wallet, which requires the use of a number of keys in order to protect the account. It is important to note that none of these options is entirely invulnerable to hacking or other forms of online theft, and each has its own downsides as far as security is concerned. How can I buy Bitcoins with a credit or debit card? If you’re based in the United Kingdom, there are three main providers who offer the opportunity to make a Bitcoin purchase with your credit or debit card – Coinbase, CoinCorner and Bittylicious. All three accept 3D secure-enabled debit and credit cards, so long as they are on the MasterCard or Visa networks. How can I buy Bitcoins with cash? This is where face-to-face (FTF) or over-the-counter (OTC) transactions come into play. The easiest way to acquire Bitcoins, provided you live somewhere that allows you do so, is to make a FTF trade with a local Bitcoin seller. It allows you to avoid any potential hassle with the banks and offers a certain amount of anonymity to you as a buyer. It should be stated up-front that you will still need a Bitcoin wallet, and that you should be very wary of a local seller who advises otherwise, or who says that they will set one up for you. Just as you would not trust another person with your bank account details, nor trust them to set one up in your name, you should make sure that the only person with the details of your Bitcoin wallet is you. There are online services, such as LocalBitcoins, where you can arrange your transaction and agree a price before meeting up with the seller. The purpose of this is to ensure that a cost of the trade can be set prior to making the payment. LocalBitcoins also operates an escrow facility (in which the funds are deposited with them to be paid out to the seller, and vice versa – the site essentially acting as a middleman for the trade). This adds a further layer of protection to the trade. Face-to-face is a slight misnomer. It is entirely possible never to meet the seller. If an amount is agreed, you can make a cash transfer from your account into theirs, or you can go to their local bank and make a cash deposit into theirs, and then provide them with a receipt. Once they have this, the seller should deposit the Bitcoins with you, for storage in your Bitcoin wallet. However, genuine face-to-face trades, where you meet the individual concerned, can and do take place, every day. As with any cash transaction involving a person you don’t know, you should have consideration of your own personal security, particularly if you are looking to trade a sizeable amount. First of all, you should always arrange to meet in a busy public place. The flip-side of this, but worth repeating, is that you should never arrange to meet in a private home, no matter how good a deal you’re getting. If the seller tries to give you some reason as to why this has to happen (that his Bitcoin wallet security is set-up in a way that it has to be operated from his home machine, for instance), then politely walk away and find another seller. The potential gains for your Bitcoin portfolio are not worth the attendant risks. In short, you should take all the precautions you would normally expect to take when walking around with a large amount of cash. Now, it’s possible that the seller will not need an actual cash transaction. An online bank transfer might be entirely acceptable to them, but they want you do do it there and then, so they can see the money going over, before they reciprocate with sending you the Bitcoins. Some sellers might even allow you to make a payment via your PayPal account, though most would be understandably reluctant to do so, preferring a non-reversible method of payment, for all the reasons mentioned earlier in this piece. If you hope to pay by PayPal, ensure that you confirm that this is OK with the seller before meeting up, to avoid embarrassment and wasting one another’s time. Depending on the person you are trading with, they might impose a premium of between 5% and 10% on top of the current Bitcoin exchange price, to allow for the convenience and privacy of a face-to-face trade (and to compensate for their time in meeting you to conduct the transfer). Any reputable trader should be willing to set the price before you meet, but many will institute a window of opportunity for whatever deal you strike, not wanting to wait for too long, just in case the value of Bitcoin takes a sudden and dramatic shift. It should go without saying that, if you're meeting someone for a face-to-face Bitcoin sale, you will need some way of accessing your Bitcoin wallet. If this involves bringing along your tablet, smartphone, or laptop, then so be it, but don’t forget the other essential component: a live and active internet connection to be able to confirm the transfer. A word of caution When considering a face-to-face purchase of Bitcoins, you would be well-advised to check that such a trade is legal in your area, before agreeing to meet. There is little reason why it shouldn’t be but, since the laws for such transactions differ from one jurisdiction to the next, it is best to be sure ahead of time. Also, there is a risk you might excite the interest of local law enforcement if you’re exchanging large sums of cash with another person in a public place. While unlikely, and easily explained, there is always the chance that a passing police officer might suspect you of trading in something a bit more illicit that cryptocurrency. Bitcoin Meet-ups Of course, one-to-one trades might not be your cup of tea, and that’s understandable. A popular form of direct trading in Bitcoins is the meet-up group. You can use a website like meetup.com and see if there is such a thing in your local area. The principle is the same as a face-to-face exchange, but in a group setting that allows for a greater feeling of safety among the individual attendees, and also allows you to learn more about the Bitcoin market from other members of the group. Bitcoin ATMs This is a relatively new concept, but Bitcoin ATMs are increasing in both number and availability across the UK. Several vendors have either released, or are experimenting with these machines: BitAccess, Genesis Coin, CoinOutlet, Robocoin and Lamassu to name but a few. The principle is simple – a Bitcoin ATM serves the same function as a face-to-face transaction, only with a machine instead of another human being. You insert your cash into the ATM and then (depending on the vendor) you either receive a paper receipt containing the relevant codes you’ll need to load your new Bitcoins into your wallet, or you receive a QR code that you will be able to scan with your mobile phone. The rate of exchange has been seen to vary wildly with these machines, and many of them add a fee for the convenience of the service, which can be as high as 8% of the transaction cost. Other ways to purchase Bitcoins Consumers in the States who are classed as underbanked (that is, they don’t have sufficient access to the sorts of mainstream products and financial services usually offered by retail banks), can use expresscoin, who have recently emerged to cater to this very market, accepting wire transfers, personal cheques, and money orders to pay for Bitcoins. No such service exists in the UK at this moment in time. What countries can I buy Bitcoins from? Bitcoin is expanding rapidly into many different markets, and it is not only possible, but expected, that a Bitcoin trader will want to buy in one market and sell in another, as the different exchanges offer different rates. With third-party organisations like CoinBase available to assist the transactions, buying Bitcoins from a different country is now easier than ever. While the spread of Bitcoin is hardly universal at this stage, every major financial centre currently operates at least one Bitcoin exchange, and analysts predict that this growth will continue into developing markets. At present, the following countries all have a trade in Bitcoins: Asia: Singapore Australasia: Australia Europe: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, Greece, Hungary, Ireland, Italy, Jersey, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Republic of Ireland, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom North America: Canada, United States of America As with any international financial transaction, it is important to make yourself aware of the various laws and conditions that might impact on your transfer, be it your payment to the seller, or your receipt of Bitcoins from them. If in doubt, it may be worth your time speaking to, or hiring, a dedicated Bitcoin broker to make the exchange on your behalf, for a fee. In conclusion Buying Bitcoins is certainly not as easy as many newcomers suspect, although the ways and means by which to do so are increasing and developing all the time. As Bitcoin continues to make its presence felt in the global marketplace, the process of making Bitcoin transactions will become ever more simple, as a way of enticing developing markets, new investors, and new consumers to the currency.

Now that you understand the basics of Bitcoin, the next logical step is to actually get some. But how? This brief guide will teach you all you need to know. At present, Bitcoins are either bought directly from other people through marketplaces, or purchased at a Bitcoin exchange. They can be paid for in a number of ways, from cold, hard cash, to debit and credit cards, to a wire money transfer, and even using other cryptocurrencies. It largely depends on where you live and from whom you’re buying your Bitcoins. How can I buy Bitcoins? Despite the popularity of Bitcoin as the world’s leading cryptocurrency, and the serious discussion of it at many financial centres around the globe, it remains surprisingly difficult to use PayPal or your credit card to purchase Bitcoins, depending on the jurisdiction in which you live. Of course, the reason has less to do with Bitcoin, and more to do with the transaction methods themselves. These sorts of purchases can be easily reversed with nothing more than a telephone call to the card company, or by raising a report with PayPal. When you’re talking about the transfer of Bitcoins, it is difficult to prove that any goods have actually changed hands. This is the reason most private sellers, and almost all Bitcoin exchanges, do not accept credit cards or PayPal for such transfers. That said, the options have recently grown for consumers in certain countries. Where do I keep my Bitcoins? Before you think about buying Bitcoins, you’re going to need to get a Bitcoin wallet. Though ‘wallet’ is the accepted terminology, you’re better off thinking of it as a sort of bank account, specifically for your Bitcoins. As with any such set-up, there are different wallets you can choose from depending on the level of security you require for your funds, with some of the higher-specification wallets attracting a higher fee to initialise and run. Some wallets act like a regular spending or current account, and can be reasonably compared to a regular leather wallet. Other accounts include the sort of encryption and security that would not seem out of place in a major financial centre, or even in the military. There are four main types of Bitcoin wallet: • A software wallet, which remains stored on your computer’s hard drive • A web-based, online wallet • A vault wallet, which protects your Bitcoins by keeping the wallet offline • A multisig (that is, a multiple-signature) wallet, which requires the use of a number of keys in order to protect the account. It is important to note that none of these options is entirely invulnerable to hacking or other forms of online theft, and each has its own downsides as far as security is concerned. How can I buy Bitcoins with a credit or debit card? If you’re based in the United Kingdom, there are three main providers who offer the opportunity to make a Bitcoin purchase with your credit or debit card – Coinbase, CoinCorner and Bittylicious. All three accept 3D secure-enabled debit and credit cards, so long as they are on the MasterCard or Visa networks. How can I buy Bitcoins with cash? This is where face-to-face (FTF) or over-the-counter (OTC) transactions come into play. The easiest way to acquire Bitcoins, provided you live somewhere that allows you do so, is to make a FTF trade with a local Bitcoin seller. It allows you to avoid any potential hassle with the banks and offers a certain amount of anonymity to you as a buyer. It should be stated up-front that you will still need a Bitcoin wallet, and that you should be very wary of a local seller who advises otherwise, or who says that they will set one up for you. Just as you would not trust another person with your bank account details, nor trust them to set one up in your name, you should make sure that the only person with the details of your Bitcoin wallet is you. There are online services, such as LocalBitcoins, where you can arrange your transaction and agree a price before meeting up with the seller. The purpose of this is to ensure that a cost of the trade can be set prior to making the payment. LocalBitcoins also operates an escrow facility (in which the funds are deposited with them to be paid out to the seller, and vice versa – the site essentially acting as a middleman for the trade). This adds a further layer of protection to the trade. Face-to-face is a slight misnomer. It is entirely possible never to meet the seller. If an amount is agreed, you can make a cash transfer from your account into theirs, or you can go to their local bank and make a cash deposit into theirs, and then provide them with a receipt. Once they have this, the seller should deposit the Bitcoins with you, for storage in your Bitcoin wallet. However, genuine face-to-face trades, where you meet the individual concerned, can and do take place, every day. As with any cash transaction involving a person you don’t know, you should have consideration of your own personal security, particularly if you are looking to trade a sizeable amount. First of all, you should always arrange to meet in a busy public place. The flip-side of this, but worth repeating, is that you should never arrange to meet in a private home, no matter how good a deal you’re getting. If the seller tries to give you some reason as to why this has to happen (that his Bitcoin wallet security is set-up in a way that it has to be operated from his home machine, for instance), then politely walk away and find another seller. The potential gains for your Bitcoin portfolio are not worth the attendant risks. In short, you should take all the precautions you would normally expect to take when walking around with a large amount of cash. Now, it’s possible that the seller will not need an actual cash transaction. An online bank transfer might be entirely acceptable to them, but they want you do do it there and then, so they can see the money going over, before they reciprocate with sending you the Bitcoins. Some sellers might even allow you to make a payment via your PayPal account, though most would be understandably reluctant to do so, preferring a non-reversible method of payment, for all the reasons mentioned earlier in this piece. If you hope to pay by PayPal, ensure that you confirm that this is OK with the seller before meeting up, to avoid embarrassment and wasting one another’s time. Depending on the person you are trading with, they might impose a premium of between 5% and 10% on top of the current Bitcoin exchange price, to allow for the convenience and privacy of a face-to-face trade (and to compensate for their time in meeting you to conduct the transfer). Any reputable trader should be willing to set the price before you meet, but many will institute a window of opportunity for whatever deal you strike, not wanting to wait for too long, just in case the value of Bitcoin takes a sudden and dramatic shift. It should go without saying that, if you're meeting someone for a face-to-face Bitcoin sale, you will need some way of accessing your Bitcoin wallet. If this involves bringing along your tablet, smartphone, or laptop, then so be it, but don’t forget the other essential component: a live and active internet connection to be able to confirm the transfer. A word of caution When considering a face-to-face purchase of Bitcoins, you would be well-advised to check that such a trade is legal in your area, before agreeing to meet. There is little reason why it shouldn’t be but, since the laws for such transactions differ from one jurisdiction to the next, it is best to be sure ahead of time. Also, there is a risk you might excite the interest of local law enforcement if you’re exchanging large sums of cash with another person in a public place. While unlikely, and easily explained, there is always the chance that a passing police officer might suspect you of trading in something a bit more illicit that cryptocurrency. Bitcoin Meet-ups Of course, one-to-one trades might not be your cup of tea, and that’s understandable. A popular form of direct trading in Bitcoins is the meet-up group. You can use a website like meetup.com and see if there is such a thing in your local area. The principle is the same as a face-to-face exchange, but in a group setting that allows for a greater feeling of safety among the individual attendees, and also allows you to learn more about the Bitcoin market from other members of the group. Bitcoin ATMs This is a relatively new concept, but Bitcoin ATMs are increasing in both number and availability across the UK. Several vendors have either released, or are experimenting with these machines: BitAccess, Genesis Coin, CoinOutlet, Robocoin and Lamassu to name but a few. The principle is simple – a Bitcoin ATM serves the same function as a face-to-face transaction, only with a machine instead of another human being. You insert your cash into the ATM and then (depending on the vendor) you either receive a paper receipt containing the relevant codes you’ll need to load your new Bitcoins into your wallet, or you receive a QR code that you will be able to scan with your mobile phone. The rate of exchange has been seen to vary wildly with these machines, and many of them add a fee for the convenience of the service, which can be as high as 8% of the transaction cost. Other ways to purchase Bitcoins Consumers in the States who are classed as underbanked (that is, they don’t have sufficient access to the sorts of mainstream products and financial services usually offered by retail banks), can use expresscoin, who have recently emerged to cater to this very market, accepting wire transfers, personal cheques, and money orders to pay for Bitcoins. No such service exists in the UK at this moment in time. What countries can I buy Bitcoins from? Bitcoin is expanding rapidly into many different markets, and it is not only possible, but expected, that a Bitcoin trader will want to buy in one market and sell in another, as the different exchanges offer different rates. With third-party organisations like CoinBase available to assist the transactions, buying Bitcoins from a different country is now easier than ever. While the spread of Bitcoin is hardly universal at this stage, every major financial centre currently operates at least one Bitcoin exchange, and analysts predict that this growth will continue into developing markets. At present, the following countries all have a trade in Bitcoins: Asia: Singapore Australasia: Australia Europe: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, Greece, Hungary, Ireland, Italy, Jersey, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Republic of Ireland, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom North America: Canada, United States of America As with any international financial transaction, it is important to make yourself aware of the various laws and conditions that might impact on your transfer, be it your payment to the seller, or your receipt of Bitcoins from them. If in doubt, it may be worth your time speaking to, or hiring, a dedicated Bitcoin broker to make the exchange on your behalf, for a fee. In conclusion Buying Bitcoins is certainly not as easy as many newcomers suspect, although the ways and means by which to do so are increasing and developing all the time. As Bitcoin continues to make its presence felt in the global marketplace, the process of making Bitcoin transactions will become ever more simple, as a way of enticing developing markets, new investors, and new consumers to the currency.