Hướng dẫn cách mua tiền ảo Ripple bằng các hình thức khác nhau
Có vẻ như mọi người đang đổ xô nhảy vào đầu tư tiền điện tử trong những năm gần lại đây. Trong đó Ripple (XRP) đang nhanh chóng trở thành một trong những đồng tiền thay thế hot nhất trên thị trường. Cách mua tiền ảo Ripple nhưu thế nào? Và mua ở đâu? Bài viết hôm nay chúng ta sẽ cùng nhau bàn về vấn đề này.
Ví tiền ảo là nơi lưu trữ, gửi hoặc nhận tiền điện tử kỹ thuật số thông qua việc có một khóa đặc biệt. Ví tiền điện tử có thể là ví vật lý hoặc ví trực tuyến và thường cung cấp dịch vụ trao đổi ngoài việc lưu trữ. Một số ví Ripple bao gồm Leger Nano S – một lựa chọn hấp dẫn đối với nhiều người do hình thức vật lý của nó (nó trông giống như một thẻ USB). Một lựa chọn phổ biến khác là Toast Wallet, một ví trực tuyến miễn phí hỗ trợ XRP. Nó là một ví mã nguồn mở có thể chứa Windows, Android và iOS. Abra Wallet là một lựa chọn khác cho ví trực tuyến cung cấp cả dịch vụ ví và trao đổi. Tuy nhiên, độ tin cậy của nó có phần không chắc chắn, vì vậy hãy cẩn thận khi chọn ví tiền ảo.
Sàn giao dịch Ripple
Sàn giao dịch tiền điện tử về cơ bản là nơi mọi người có thể chuyển và trao đổi các loại tiền tệ khác nhau (có thể là tiền điện tử hoặc đô la). Điều này thường có thể được thực hiện bằng cách chuyển một loại tiền tệ như USD hoặc Euro thành tiền điện tử như Bitcoin hoặc Ripple và ngược lại. Có một số sàn giao dịch khác nhau mà Ripple sử dụng và được đề xuất. Một số trong số những cái được đề xuất nhiều nhất là Binance và Bitsane, nhưng trang web Ripple cũng khuyến nghị Bitstamp, Kraken và thêm một số sàn giao dịch khác. Một số sàn giao dịch này không thể chuyển USD thành XRP (Ripple token), nhưng một số thì có. Trước khi chọn sử dụng, hãy đảm bảo rằng bạn biết tùy chọn nào phù hợp nhất với mình và liệu bạn muốn chuyển trực tiếp từ USD hay sử dụng phương pháp khác như chuyển từ một loại tiền điện tử khác (như Bitcoin hoặc Ethereum) sang XRP.
Có một số sàn giao dịch khác nhau để mua Ripple. Ví dụ sử dụng sàn tiền ảo tốt nhất – Binance. Như thường lệ với nhiều sàn giao dịch, bạn không thể mua Ripple trực tiếp trên Binance bằng USD, vì vậy trước tiên bạn sẽ phải mua một đồng tiền khác như Bitcoin hoặc Ethereum và chuyển chúng sang Binance.. Để mua Ripple bằng Coinbase và Binance, bạn cần phải:
Tạo tài khoản trên trang Binance. Điều này sẽ bao gồm việc tạo mật khẩu và nhập email của bạn vào – những thông tin cơ bản nhất.
Chuyển Bitcoin (hoặc tiền điện tử khác như Ethereum hoặc litcoin) vào tài khoản Binance của mình. Bạn có thể thực hiện việc này bằng cách cuộn qua nút “funds” trên đầu màn hình và nhấp vào “deposit withdrawals”.
Nhấp vào đồng tiền bạn muốn trao đổi ví dụ như Bitcoin (BTC) và chọn nút “deposit”. Sau đó sao chép địa chỉ BTC được cung cấp.
Sau đó, đăng nhập vào sàn giao dịch bạn sử dụng để mua Bitcoin – Coinbase và chuyển đến “accounts”. Bạn có thể mua Bitcoin trên Coinbase bằng tài khoản ngân hàng được liên kết hoặc thẻ ghi nợ.
Chuyển đến ví BTC của bạn ở phía bên trái của trang và nhấp vào “send” BTC. Thường có một khoản phí nhỏ.
Dán địa chỉ Bitcoin mà bạn đã sử dụng trên Binance vào ô “recipient” và nhập số tiền bạn muốn chuyển.
Đăng nhập lại vào Binance và trong phần “funds”, chuyển đến “deposit withdrawals” và kiểm tra “total balance” – bạn sẽ thấy Bitcoin mà bạn đã chuyển.
Để trao đổi Bitcoin của bạn thành Ripple (XRP), hãy nhấp vào nút “exchange” trên đầu trang và nhấp vào “Basic”.
Tìm kiếm “XRP” trong hộp tìm kiếm và chọn từ BTC (vì vậy nó sẽ là “XRP / BTC”). Nhấp vào số lượng Bitcoin mà bạn muốn chuyển sang Ripple (bạn có các tùy chọn bao gồm 25%, 50%, 75% hoặc 100% BTC của mình).
Chọn số tiền bạn muốn và nhấp vào “Buy XRP.” Việc chuyển tiền sẽ được thực hiện nhanh chóng, vì vậy khi bạn đã mua Ripple, hãy kiểm tra lại tiền của mình và bạn sẽ thấy XRP trong tổng số dư của mình.
Cách mua tiền ảo Ripple bằng USD
Theo trang web Ripple, bạn có thể mua Ripple trực tiếp bằng tiền mặt của mình (cho dù đó là USD, EUR hay loại khác) thông qua tài khoản ngân hàng hoặc thẻ tín dụng của bạn. Để bắt đầu bán sẽ thực hiện các bước như sau:
Tạo tài khoản trên Bitstamp và nhập thông tin cần thiết – tên người dùng và mật khẩu sẽ được gửi đến email của bạn.
Đăng nhập vào tài khoản của bạn bằng tên người dùng và mật khẩu được cung cấp, sau đó thay đổi ngay mật khẩu của bạn khi được nhắc. Bạn cũng có thể bật chế độ xác thực hai yếu tố.
Xác minh tài khoản của bạn bằng cách điền vào thông tin được nhắc ở cửa sổ. Bạn có thể tải lên các tài liệu phù hợp với yêu cầu. Nhấn “submit verification request”.
Sau khi được xác minh, hãy chuyển đến tài khoản của bạn và nhấp vào nút “deposit”, tại đây bạn sẽ có thể chọn phương thức chuyển khoản ngân hàng bạn muốn sử dụng ở phía bên trái.
Chọn “international wire transfer” và điền bất kỳ thông tin nào cần thiết.
Sử dụng chi tiết ngân hàng của Bitstamp để chuyển tiền từ tài khoản ngân hàng bạn có sang Bitstamp. Khi tiền của bạn đã chuyển thành công sang Bitstamp, hãy nhấp vào thị trường bạn muốn trao đổi (để mua Ripple bằng tiền mặt, hãy nhấp vào thị trường XRP / USD).
Chuyển đến phần “buy/sell” và nhấp vào “Buy XRP” trong “instant order (simple” Nhập số tiền bạn muốn mua vào hộp “I want to spend” và nhấp vào “Buy XRP”.
XRP sẽ được thêm vào tổng số dư trong tài khoản Bitstamp của bạn. Mặc dù các thủ tục sẽ khác một chút tùy thuộc vào sàn giao dịch bạn sử dụng, nhưng hầu hết đều khá dễ hiểu để sử dụng. Hãy chắc chắn việc nghiên cứu trước khi sử dụng bất kỳ sàn giao dịch nào để tránh bất kỳ trang web bất chính nào. Nhiều người cũng đã sử dụng PayPal như một cách để mua Bitcoin.
Ripple là một giải pháp thay thế cho Bitcoin, Ethereum và Litecoin. Khác với hầu hết các loại tiền điện tử thì Ripple thực sự sử dụng kết nối với các ngân hàng và công ty. Việc trao đổi token của Ripple đã nhanh chóng trở nên phổ biến do nó được cho là có thời gian chuyển giao rất ngắn trong các sàn giao dịch và phí thấp. Vì vậy nếu muốn mua tiền ảo Ripple bạn có thể tham khảo cách cách mua tiền ảo Ripple trên đây.Xem thêm: Cách mua tiền ảo Bitcoin từ A đến Z cho người mới tham gia
How to purchase and exchange your litecoin! (longer read)
This post will show you the best ways to buy litecoins using many different payment methods and exchanges for each method. Before you start, make sure you have a good litecoin wallet to store your LTC. NEVER store your litecoins on a crypto exchange.
Start trading fast; high limits
Easy way for newcomers to get bitcoins
Your capital is at risk.
High liquidity and buying limits
Easy way for newcomers to get bitcoins
“Instant Buy” option available with debit card
Works in almost all countries
Highest limits for buying bitcoins with a credit card
Reliable and trusted broker
Buy Litecoin with Credit Card or Debit Card
Let’s dive into some of the exchanges supporting Litecoin credit card purchases. These exchanges are our favorite ways to buy.
Coinbase is the easiest way to buy litecoins with a credit card. Coinbase is available in the United States, Canada, Europe, UK, Singapore, and Australia. The fees will come out to 3.99% per purchase. Here is a good video that can help walk you through the process of buying on Coinbase, although it’s fairly easy.
Coinmama recently added the ability to buy litecoin directly on the platform. Users from nearly any country in the world can use Coinmama to buy litecoins. Coinmama has some of the highest limits among credit card exchanges.
BitPanda is based in Austria and is a crypto brokerage service. You can buy using a credit card from most European countries.
CEX.io is based in the UK and is one of the oldest crypto exchanges online. CEX.io supports litecoin and its users from nearly anywhere in the world can buy litecoin with credit card on the platform.
Buy Litecoin with Bank Account or Bank Transfer
Coinbase is the easiest way to buy litecoins with a bank account or transfer. Coinbase, like is is for credit cards, is available in the United States, Canada, Europe, UK, Singapore, and Australia. Coinbase is one of primary exchanges used to buy Litecoins. Americans can use ACH transfer (5–7 days wait), and Europeans can use SEPA transfer (1–3 days wait). The fees will come out to 1.49% per purchase.
BitPanda is based in Austria and is a crypto brokerage service. You can buy using SEPA transfer from most European countries. You can also use SOFORT, NETELLER, or GiroPay.
CEX.io also supports litecoin buys via bank account. This is via wire transfer for US citizens, SEPA for Europe, and SWIFT for the rest of the globe.
Binance is now one of the largest if not the largest cryptocurrency exchange in the world. It supports bank and card purchases of Litecoin as well as Litecoin trading pairs with Bitcoin and Etehreum.
Get a Litecoin Wallet
Before we move onto other options: Never store your litecoins on an exchange! Always withdrawal your litecoin to an offline cryptocurrency wallet like the Ledger Nano S or any other wallet that you control. The Ledger Nano S and TREZOR are the best options for secure storage.
Other Methods to Buy Litecoin
If you don’t have a card or want to avoid the high fees, you can use the following methods to buy Litecoin as well. Find out which one works best for you.
Buy Litecoin with PayPal
Unfortunately, there is no easy way to buy Litecoin with PayPal. Other sites will tell you that cex allows for this, but that is no longer the case. You can, however, now use eToro to buy Litecoin, unless you live in the United States. If you live in the US, the only way to buy Litecoin with Paypal is to buy Bitcoin using paypal, and then use the Bitcoins to buy Litecoin. You can easily buy Bitcoin using Paypal on Local Bitcoins. Once you have Bitcoin, you can use an exchange like Coinbase Pro to swap the Bitcoin for Litecoin.
Buy Litecoin with Cash
There is no good way to buy litecoins with cash. LocalBitcoins is the most popular way to buy bitcoins with cash, and it does not have Litecoin support. Other popular cash to Bitcoin exchanges like BitQuick and Wall of Coins also do not support LTC. So you will have to first buy bitcoins with cash then exchange them for LTC using the method described below. The same goes for Bitcoin ATMs. Most do not support Litecoin. So if you want to buy litecoins at a Bitcoin ATM you first have to buy bitcoins and then trade the BTC for litecoins.
Buy Litecoin with Bitcoin
If you already have Bitcoins then it is VERY simple to convert some of your BTC to litecoins. You just need to find an exchange with the LTC/BTC pair, which is most exchanges since LTC/BTC is a very popular pair to trade.
Buy Litecoin with Skrill
BitPanda, mentioned above, also accepts Skrill payments for LTC. The fees will vary and are simply included in your buy price.
Cryptmixer is probably the fastest way to convert BTC to Litecoin. You just enter the amount of LTC you want to buy, and give them a LTC address. Then they will tell you how much BTC to send to their address. Once your BTC is sent, you will have LTC delivered to your wallet very shortly after.
Buy Litecoin with Ethereum
Ethereum has experienced a massive price rise. Nearly a year ago it was $10, and now at over $500, many want to move some of their ETH gains into other coins like Litecoin. Litecoin has very good liquidity, and is very popular among traders especially in China. So this guide is going to show you how to buy litecoins with Ethereum. We will show some of the best exchanges you can use, and the pros and cons of using different types of exchanges over the other.
Cryptmixer is one of the most unique exchanges, and also one of the fastest ways to convert your ETH to LTC. With Cryptmixer you do not even need to store your money with the exchange, meaning you are at very little risk of getting your funds stolen. With Cryptmixer you simply specify the amount of LTC you want to buy, and specific the address to where your litecoins should be sent and within 30 minutes you will have LTC delivered to your wallet.
Poloniex is the world’s largest altcoin exchange. However, there is a huge downside to using Poloniex to convert your ETH to LTC: Poloniex does not have a LTC/ETH market, meaning you have to first trade your ETH to BTC, and then trade your BTC for LTC. While this method works, you will have to make multiple trades and also pay fees twice.
Shapeshift is basically the same as Cryptmixer, and was actually the first company to come up with the concept of an exchange that does not hold your own funds.
Frequently Asked Questions About Buying Litecoin
Many of you may still have lots of questions about how to buy Litecoin. Odds are we have answered almost any question you could think of below. We will aim to answer many of the most common questions relating to buying Litecoin.
Why are there limited options to buying Litecoin using other altcoins?
The issue in all crypto markets is liquidity. As the space gets bigger, the liquidity also gets better. But as of now, the only VERY liquid cryptocurrency is Bitcoin. So exchanging two altcoins between each other is often harder than if BTC was involved on one side of the trade.
How much is a Litecoin worth?
Like all currencies, the value of Litecoin changes every second. The value of Litecoin also depends on the country you are in and the exchange you are trading on. You can find the most up to date price on Coinbase.
How do I buy Ripple (XRP) with Litecoin?
The best way to buy Ripple using Litecoin is to either use a non KYC exchange like Cryptmixer or start an account on Binance or Coinbase Pro and sell your Litecoin for Ripple. Look for LTC/XRP trading pairs, and make your trade.
How long does Litecoin take to confirm?
Litecoin blocks are added ever 2 and a half minutes. That means you should get one confirmation every two and a half minutes. This can vary if it takes miners longer to discover a block, but the difficulty of the finding a block should change proportionate to the hashing power on the network so that a block gets added approximately every 2.5 minutes. If you are trying to send money to a merchant, they may require more than one confirmation before they send you products. If you are depositing on an exchange, they may also require three or more confirmations before they credit your account.
How many Litoshis make one Litecoin?
one hundred million (100,000,000) Litoshis make one (1) Litecoin.
Where do I store Litecoin?
The best place to store litecoin is on a hardware wallet. You can find the best one for you on our page dedicated to hardware wallets.
When is the Litecoin halving?
The expected date of the next Litecoin block reward halving is August 7th, 2023.
Why can litecoin take so long to buy?
Litecoin can take long to buy because the legacy banking system is very slow. If you are buying with another cryptocurrency, you will see how fast it is to buy! Bank transfer in the USA, for example, take about 5 days to complete. So any purchase of Litecoin made with a US bank transfer will take a minimum of 5 days.
How do I buy Litecoin with Paypal?
Unfortunately, there is no easy way to buy Litcoin with PayPal. Other sites will tell you that cex allows for this, but that is no longer the case. You can, however, now use eToro to buy Litcoineum, unless you live in the United States. If you live in the US, the only way to buy Litcoin with Paypal is to buy Bitcoin using paypal, and then use the Bitcoins to buy Litcoin. You can easily buy Bitcoin using Paypal on Local Bitcoins. Once you have Bitcoin, you can use an exchange like Cryptmixer to swap the Bitcoin for Litcoin.
Can you buy partial litecoins?
Yes, litecoin, like Bitcoin, is divisible to many decimal places so you can buy 0.1 LTC, 0.001 LTC, etc.
Can you sell litecoin?
Yes, you can sell LTC on most of the exchanges mentioned above. The fees, speed, and privacy is the same in most cases.
Can anyone buy litecoins?
Anyone is free to buy litecoins, as long as you find an exchange that supports your country. Most cryptocurrency wallets do not require ID to sign up so you can always make a wallet and get paid in litecoin, too.
Which payment method is best to use?
For speed, credit card will likely be fastest. For larger amounts, bank transfer is best. For privacy, it’s best to buy bitcoins with cash and then trade for litecoins using Cryptmixer or Shapeshift.
Is it better to mine or buy litecoins?
If you have cheap electricity, it might be worth it to mine litecoins. If you have solar power or just want to mine for fun then it could be worth it. Otherwise, it’s probably better just to buy. Mining is constantly changing and small changes in Litecoin price or electricity can greatly affect your profitability.
What should I do with my litecoins once I buy?
You should immediately move your litecoins into a secure wallet. You should never leave your litecoins on an exchange. There have been countless hacks in cryptocurrency since Bitcoin was created in 2009. Hundreds of thousands of people have lost money. So buy your litecoins, and then instantly send them into a wallet you control so you are not at risk of losing money to a hack or scam.
[OFFER] CONSTANT Crypto Lending Platform - $10 for Completing KYC + $2 from me US ONLY
Constant is a new player in the crypto space competing with the likes of Binance and Nexus. They offer a p2p network that allows the investors to set a target return and match them with a borrower, that is also on the platform. For there intro into the marketplace they are offering $10 for registering and completing KYC, No required deposit. As a a bonus I will send $2 via CashApp, Paypal, or Bitcoin. As always comment $bid to proceed. Here is an example of how the platform is used I hold MCO and the current price is $5 per MCO I want to buy bitcoin because I believe the price will reach $10000 and the current price is $8000, but I also believe that the price of MCO will go up. With the loan requiring 75% loan to value. I deposit 2,134 MCO wich equals roughly $10,666 and I receive 1 bitcoin. The MCO is still mines so any increase I still capitalize on any increase. The loan is from another user on the app that is wanting to take a less risky investment and only want to gain portfolio value on interest. The interest rate for the loan is at 7% APR which equal $46.67 for a 30 day loan on $8,000. This interest is paid directly to person who want to earn money based on interest. Note. That the lender is secured from default by using the collateral. The borrower also pays a loan match fee equal to 1% of the loan amount, in this case it will be $80 because the loan was for 1 bitcoin at $8000. That leaves total cost at $126.67 Bitcoin rises to $10,000 Profit = 10,000-( borrowed amount 8000+ total cost 126.67)= $1873.33 PLUS During loan MCO rises to $5.50 × 2134 = Total value is now $11,737 vs $10,666 when opened the loan. Result in total account gain of $1873.33 from bitcoin + equity increase of $1071 from MCO price increase = $2944.33
Re-Launching The Borderless, Unkillable Crypto-Fiat Gateway, DAIHard. Enter or Exit Crypto via Any Fiat and Any Payment Method, Anywhere in the World, Without KYC. All you need is a little Dai.
Some of you might recall recall our initial facepalm failed launch about 3 months ago (post-mortem here). Well, we're back--this time with an audit and some new features. This version of DAIHard should should die a little harder this time ;)
After shopping around a bit in the auditor space, we decided to go with Adam Dossa--the very same Adam Dossa that actually found our launch vulnerability and responsibly disclosed it to us! You can see his report here. By the way, Adam has been a gem: friendly, professional, timely, and flexible. Definitely keep him in mind if you need an audit!
Following is an updated version of our original launch post. If you've already read that, you might want to skip to the heading What's New in v0.9.2. Or you can go straight to the app or go to our info site for more info! Here is a legitimate concern most of us are familiar with:
To enter or exit the crypto economy, we rely on centralized exchanges such as Coinbase, which track their users, impose limits, and are tightly coupled to their jurisdiction and its banking system. And for all we know, any day now regulations could start tightening these controls further (*we've actually seen some of this play out in the two months since our first launch post). In light of this, can we say in any meaningful sense that crypto is anonymous, limtiless, borderless, immune to regulation, and (most importantly) unstoppable?
To really address this concern, we need a completely decentralized gateway between fiat and crypto: something that extends the benefits of crypto to the very act of moving between the old and new economies. But the design of such a platform is far from obvious. (Localethereum comes close, but as discussed under Unkillable, it doesn't quite cut it. And Bisq is decentralized, but has significant UX hurdles.) We believe we've found a solution. We are proud to present:
DAIHard v0.9.2 - Almost Definitely Not Broken This Time
If you want to jump right in, we recommend first watching our latest usage demo (7 min), then diving in and giving it a shot with a small amount of Dai. (Try it on Kovan first if mainnet is too scary!) DAIHard extends many of the promises of crypto (borderless, anonymous, limitless, unstoppable) into the exchange mechanism itself, allowing anyone, anywhere to bypass centralized exchanges and the control they impose. More concretely, DAIHard is a platform, run on smart contracts, for forming one-off crypto/fiat exchanges with other users, in which:
The method of fiat transfer is open-ended, but agreed upon up-front (for example: bank transfer, cash handoff, transfer of online credit, cash drop...).
You and the counterparty can communicate via end-to-end encrypted chat to coordinate the fiat transfer (i.e. communicate bank account number or reveal a cash drop location).
Crucially, in the last phase, the Seller can choose to burn the Dai instead of releasing it to the Buyer (but he can't get it back). This credible threat of burn is what makes the platform reliable in the absence of a centralized group of arbitrators or moderators. For more on this see the DAIHard Game Theory medium article (10 min read).
You Need either xDai, or both Dai and Ether, to Use The Tool (At Least For Now)
If you want to buy Dai on DAIHard, you must already have Dai--1/3 of the amount you want to purchase--to put up as a burnable deposit. For example, if you only have 10 Dai now, you can only commit to buying 30 Dai, and must complete that trade before using the newly bought Dai to open up a bigger offer (for up to 120 Dai that time). Most tragically of course, this means that if you don't already have some crypto, you can't use this tool to get crypto--this is why we avoid calling DAIHard an onramp specifically. This comes from the fact that both parties must have "skin in the game" for the game theory to work, and a smart contract can only threaten to burn crypto. We have some ideas on how to address this drawback in the not-too-distant future, which we'll write about soon. For now it's time to launch this thing and get some users!
Dangerous and Scary To Use
In rare cases, a user may have to burn Dai and face a loss on the entire trade amount. The necessity of this ever-present risk is explained in detail in DAIHard Game Theory. However, a cautious, rational user can gather information (possibly via our [subreddit](daihard)!) about how people have used the tool, successfully and unsuccessfully. They can then create a buy or sell offer with wisely chosen settings based on what has worked for others. Other cautious, rational users can find this offer and commit to the trade if they dare. We expect the vast majority of committed trades should involve rational, cautious users, and should therefore resolve happily. Still, inevitably there will be sloppy trades that result in burns. As the tool is used, we'll be keeping a close eye on the frequency of burns and keeping you guys updated (perhaps via a "System Status" utility similar to the one found on MakerDao's explorer). In the end, though, we expect the risk in using DAIHard to be comparable to the risk of using any exchange or DNM: ever-present but low enough for the platform to be useful as whole. So, while DAIHard will never shut down and can't perform an exit scam, the bad news is it's not risk-free. Users will have to approach DAIhard with the same level of caution they would with any new exchange (albeit for different reasons and with a different approach). So what's the good news?
The Good News
While these drawbacks are significant, they enable some remarkable features that no other crypto/fiat exchange mechanism can boast.
(Correction: Bisq seems to have a decentralized arbitration system) We are aware of no other crypto/fiat exchange platform that is truly unkillable. Bisq and localethereum comes close, but both localethereum relies on centralized processes of arbitration. This means their fraud-and-scam-prevention system can be sued, jailed, or otherwise harrassed--and if that part stops working, it doesn't matter how decentralized the rest of the system was. DAIHard, in contrast, gives the users the power to police and punish each other, via the aforementioned credible threat of burn. This is simple game theory, and the rules of this game are etched permanently into the DAIHard Factory and Trade contract code: impervious to litigation, regulation, and political pressure. This Factory contract has no owner and no suicide or pause code. It cannot be stopped by us or anyone else. Like Toastycoin, this thing was immortal the moment it was deployed (even more immortal than RadarRelay, for example, which does rely on an ownership role). Both DAIHard and Toastycoin (and probably whatever we build next) will last for as long as a single Ethereum node continues mining, and it will remain easy to use as long as someone can find the HTML/JS front-end and a web3 wallet. (The HTML/JS front-end (built in Elm, by the way, with the lovely elm-ethereum!) is currently hosted on Github pages, which is centralized--but even if Github takes down the page and deletes the code, it's a minor step to get the page hosted on IPFS, something that is on our near-term roadmap in any case)
No KYC, No Limits
It's smart contracts all the way down, so DAIHard never asks any nosy questions--if you have Metamask or some other web3 wallet installed and set up, with some ETH and Dai (or just xDai), you can immediately open or commit to a trade. You don't even need a username! (In fact, we're so inclusive, even machines are allowed--no CAPTCHA here!) You're limited only by the collateral you put up, so if you have 10,000 Dai you could open up a buy offer for 30,000 Dai (or a sell offer for 10,000 Dai) right now. We do reccommend trying the tool out first with a small amount of Dai... But we're not your mom! Do what you want!
It simply doesn't matter where you are, because DAIHard doesn't need to interface with any particular jurisdiction or payment system to work. DIAHard works by incentivizing people (or robots?) to navigate the particular real-world hurdles of bank transfers, cash drops, or other fiat transfer methods. These incentives work whether you're in America, Zimbabwe, or the Atlantic; they work whether the fiat is USD, EUR, ZAR, seashells, or Rai Stones; and they work whether your counterparty is a human, an organization, a script, or a particularly intelligent dog with Internet access.
Any Fiat Type, and Highly Customizeable
Here are some examples of the types of trades you might create or find on DAIHard.
Sell 5 xDai for $5 USD, sent via TransferWise.
Sell 200 Dai for $180 USD, granted they bring the cash to you by tomorrow afternoon in Central Park, NYC.
Buy 20 Dai with a $30 gift card for Amazon AWS that you were never going to use.
Sell 20 Dai in exchange for a $20 Steam game.
While in Vietnam, sell 200 Dai to someone for €180 anytime in the next two weeks, provided they deposit it into your German bank account.
While in Germany, sell 20 Dai to someone in exchange for them refilling your pre-paid Vietnamese phone plan.
Buy 500 Dai for $550 via PayPal, but wait 3 weeks for before the Dai is released (so the paypal transaction can't be reversed).
As the DAIHard community grows, users will doubtless find much more creative ways to use the system, and we will discover together which types of trades are reliable and which are more risky. Because users can set their own prices and phase timeout settings, we expect the risky trades to charge a premium or have longer time windows, while the reliable ones rapidly multiply at close to a 1:1 price ratio, with quick turnaround times.
Extensible (with profit) by Third Parties
Not satisfied with our interface? Do you have some nifty idea for how to display and organize user reputation? Or maybe some idea for how trades could be chained togeher? Maybe you'd like to design a notification system for DAIHard? Maybe you just want a different color scheme! Well, you won't need our permission to do any of this. Any tool that watches the same Factory contract will share the pool of trades, regardless of which tool actually creates the trade. This means we don't even have to fight over network effects! And if you look closely at our fee structure, you might notice that only half of the 1% DAIHard fee is "hardcoded" into the Factory contract. The other half is set and charged by our interface. What does this mean for you? If you go out and make a better interface, you can essentially replace half of our 1% fee with your own fee--it's up to you whether it's smaller or larger than the replaced 0.5%. The reason for this is to explicitly welcome other developers to extend what we've built. For as long as our team is the only one improving the platform, a threat to us is a threat to future upgrades. But if others begin extending the DAIHard platform too, then DAIHard will not only be unstoppable as it is today, but also grow unstoppably.
(For Real This Time) This Is a Big Fucking Deal
DAIHard is a turning point in crypto and a breakthrough in decentralized markets, and is an irreversible augmentation of the Ethereum platform. What we've built is a gateway to crypto completely devoid of centralized components--rendering entry and exit to crypto unkillable, flexible, borderless, and private. Centralized exchanges, and the control they impose, can now be bypassed by anyone with Dai and a web3 wallet.
What's New in v0.9.2
There have been many changes made since our first failed launch, but there are two rather important ones: xDai support and reputation tools.
DAIHard is now operational on xDai, a sidechain whose native token (xDai) is pegged to the Dai (and therefore $1). Add the xDai network to your Metamask (or just install Nifty Wallet), then switch to the xDai network in your wallet, to try it out. xDai has some pretty incredible benefits, compared to vanilla Ethereum:
Price: On xDai, a single DAIHard trade costs on the order of $0.01 to run start-to-finish, rather than the accumulated $2.40 (with the best-case-scenario 1gwei gas price) you'll spend on vanilla Ethereum.
Speed: Trade actions mine much faster, and don't require ERC20 'approve' transactions, making the whole process way snappier.
Gas priced in xDai: the main benefit here is that you only need one token (xDai) rather than two (Dai and Eth). Also, it's just nice having the gas cost expressed in (essentially) USD!
We now have a few reputation tools. First, on any open trade, there is a widget showing the number of releases, aborts, and burns the given address has been involved in as that role (buyer or seller). Clicking on this expands the widget to show more detailed information, and also provides a link to a page that lists each trade this user has been or is involved in.
We have tons of ideas on how to improve the product--too many, in fact, to commit to any before we get a good chunk of user feedback. Here are some of our favorite ideas:
A "QuickTrade" page, offering Trade Templates as an alternative to the current Create Offer page.
Big Exciting Features
Bootstrapping people with no DAI via other mechanisms and community outreach.
Partial commits to trades. eg. Place a 10,000 DAI trade and allow it to be picked up in blocks larger than 500 DAI at a time.
More chains, get this thing working on Bitcoin via Rootstock, on Ethereum Classic and Binance Chain.
A lot of the above features will be prioritized more clearly as we get user feedback, and we will be posting fairly frequent updates and articles on our info site. If you don't want to miss anything, note the subscribe widget and sign up!
Americans Are Using Their Stimulus To Purchase Bitcoin
Meanwhile, Large Banking Players Are Facing Technical Problems Processing Stimulus Payments The latest COVID-19 outbreak in the United States caused the government to take severe counteractions, including giving away $2 trillion in stimulus packages. However, the $1,200 stimulus went into the crypto sector, as Americans are massively buying Bitcoin and other cryptocurrencies with the governmental help. Coinbase’s CEO Brian Armstrong tweeted a graph, showing a 300-percent increase in transactions, totaling $1,200. Binance also confirmed such a correlation on its trading platform. Source: Twitter Financial columnist Paddy Baker further confirmed the suspicions for a direct correlation between buying cryptocurrencies and stimulus payments. Baker received information from Binance.US representative, stating that “in the past couple of days, there is a noticeable increase in deposits of exactly $1,200.” Researchers from CryptoCompare also discovered a noticeable increase in the BTC/USD and BCH/USD trading pairs swap activity. The possible reason behind Americans pushing their stimulus packages into the crypto sector is the technical issues found when processing the relief checks. The U.S. government stated that over 80 million in stimulus packages, worth an estimated $96 billion, were sent over the course of the past week. However, PayPal account owners raised a flag of concern after the payment processor blocked their access to the stimulus packages. “When the whole economy struggles to get afloat, and the population needs the money more than ever, companies have no right to lock funds, leaving us without access to cash,” Paypal customers report. Furthermore, several big banks, including JPMorgan, PNC, and Bank of America, reported processing issues, correlated to the stimulus.
A hybrid crypto exchange is a platform that provides users with access to their private keys and aims to solve the scalability issues of decentralized exchanges. *Disclaimer: I don’t insist that one have to store 100% of the portfolio on any kind of exchange. Why is it called Hybrid exchange? Hybrid crypto exchanges combine the pros of Centralized crypto exchanges and Decentralized crypto exchanges. The hybrid concept allows for certain cons to be remedied by implementing the advantages of the opposite. What are Centralized and Decentralized exchanges? Centralized(CEX) crypto exchanges provide massive volatility with the help of market-making activities. Occasional fiat gateways for its users, so everyone could quickly cash out gainings. Besides, substantial centralized crypto exchanges have a higher trust score within the community. Decentralized(DEX) crypto exchanges provide a solution to the security issues by letting users be in control of their private keys. This feature is a part of the real decentralization of trust philosophy, which is essential for the whole crypto economy. DEX vs CEX
Decentralized nature - in contrast to CEX, mostly DEXes are hosted on decentralized servers. This method of hosting makes them almost invulnerable to hacks;
Not restricted by law- because of its decentralized nature. There is no so-called single point of failure. It is nearly impossible to shut one down or regulate it. This is a strong point for users who live in countries that ban cryptocurrencies. But it’s really hard to find the independent Decentralized exchange. For example, IDEX which labels itself as DEX is a custodial exchange and is now sort of putting accounts and KYC into place. KYC is required for withdrawals of greater than 5,000$
Privacy - most CEXes requires users to go through a KYC process, which requires one to upload an ID. Without KYC procedure user can’t withdraw his funds. Unlike CEXes, DEXes requires an email address and nothing more, you even can think up a custom identity for it;
User responsibility - CEXes store all funds located on their platform on custody wallets which can potentially be a vulnerable target for hackers. However, DEXes allow users to be in full control over their funds. All that is needed to access a DEX is for a user to connect his wallet based on some mechanic (private key, metamask, json). This is the true nature of decentralization, blockchain is supposed to cut off third parties that collect fees for holding your funds.
On the one hand, DEX’s provide higher security and privacy for its users, but those aren't the only things we are looking for. On the other hand, CEX’s, as I told earlier, have a higher trust score, so what does this mean exactly?
Resources - currently CEX’s have more resources. Hence they can deliver a better user experience for its users. CEX’s are generally much more popular than DEXes. Though, DEXes are still an option B, and frequently used by those who do not trust the management of centralized exchanges due to human factors such as breach of internal controls and fraud..
But is their royalty deserved? “I definitely hope centralized exchanges go burn in hell as much as possible,” Vitalik Buterin stated in 2018. In particular, he thinks there’s no reason some projects need to pay $10 to $15 million(as per 2018) in listing fees to let people trade their tokens on centralized exchanges. This feels like a blood diamonds issue in the diamond industry. Most of those platforms were built on lies, some of them are currently building themselves out on falsehoods.
Ownership transparency - DEX’s were created to avoid regulatory pressure. Thus DEX founders' prefer to remain anonymous. Of course, this doesn't contradict decentralization, but users always have to remain skeptical when it comes to their funds.
CEXs have to be regulatory compliant, it’s impossible to be obedient without registering a company, submitting documents for proof of identity, etc. Most of the legal registries are opened to the public. Hence the founders are publicly known individuals. Besides, there is no need to hide while you are compliant and not involved in illegal activities.
Due diligence - Large CEX’s always do research on projects prior to listing, or even hosting an IEO for them. This leads to vast FOMO, users don't hesitate to do their own research and line up to for an investment opportunity. Currently, Binance is the most prosperous platform regarding IEO investments. DEXes dont host IEOs due to their decentralized nature and user anonymity. Usually, if one wants to participate in an IEO, a KYC process is required.
Easy to use - DEX’s frequently have convoluted interfaces, which is one of the considerable bottlenecks for new investors. In contrast, CEX’s are built for relative ease of use by experienced traders and newbies.
If you are new to this industry, or do not want to understand the intricacies of blockchains and came here to trade Bitcoin, I advise you to use a CEX. But If you came here for the tech, you will enjoy reading this more. What is the hybrid crypto exchange approach? Not so long ago, I decided to dive into the topic of hybrid exchanges as a potential game-changer in the cryptocurrency industry. The hybrid exchange philosophy builds on the strengths of decentralized and centralized exchanges. During my research, I came across a curious example - NEXT.exchange To further simplify the process of understanding the principles of hybrid exchanges, I propose to consider this topic by case. It’s worth noting that there is much to contemplate in regards to hybrid exchange platforms, their solutions and approaches may vary. There are also not many out there. DEX pros within NEXT:
Transparency - Unlike DEX’s that use decentralized or cloud servers, NEXT.exchange will use its own blockchain - NEXT.chain, based on SYS, DASH, and BTC, which in turn will allow the platform to expand on its transaction throughout (occasionally DEX’s majority of which are ETH based, experience hang time when the Ethereum network is overloaded with transactions).
Essentially NEXT.chain will be used by the exchange as an open database that stores information about all transactions and tokenized assets (assets created on NEXT.chain are dubbed 00X standard) within the exchange. To maintain the blockchain, investors will deploy 100 master nodes during the first year (79 out of 100 are already functioning).
Hybrid mining POW/POS - Each successfully executed order will be a transaction for mining. An interesting fact is that the issue of the exchange token will be carried out by mining, in a similar way to how it happens on the bitcoin network. Master nodes & miners will receive rewards for their contribution to the ecosystem.
Governance - the NEXT team is looking to provide Masternode operators with the opportunity to participate in the management of further development of the exchange and hybrid ecosystem by means of voting. How exactly this feature will be implemented remains a mystery, but sounds fair.
User confidence - the team plans on providing users with access to their wallet private keys. Additionally, they aim to involve an escrow services (similar to Kucoin) on their platform. Below is a brief schematic of their system and how NEXT.chain will factor in. Seems the goal is to tokenize assets using their chain, similar to Binance.
Privacy - Traders will be able to trade crypto-crypto without going through the KYC procedure, which is great for users. But the regulatory landscape may change over time. KYC will be needed for anything involving fiat.
CEX pros within NEXT:
Ownership transparency - Legal entity is registered in the Netherlands. All information about the team is publicly available on their site and on linkedin.
Fiat gateway - Presence of a legal entity allows the exchange to enable its users to withdraw their crypto assets to fiat and to trade several cryptocurrencies against fiat.
However, to do this, users will have to go through KYC (Yes, the guys from NEXT have some workings with banks to provide their users with access to USD and EUR. Other currencies will probably be available later). Thus, traders will be able to withdraw funds directly to Bank cards. As far as I am aware, they also plan to make PayPal available for withdrawals only.
High-quality community support - When I found myself in their community, I was surprised by the quality of support, I have not seen this even in TIER-1 exchanges. The team members eagerly answered all my questions. And the people in the chat were wonderful and kind.
It’s important to note that NEXT is just at its start, and will be releasing a huge update dubbed 2.0 (after a testing period with its community), so if hybrid cryptocurrency exchanges are interesting to you - then this is definitely one to keep an eye out for. Summing up Recently, the industry of centralized crypto-exchanges is literally filled with scammers. Teams of second-rate centralized exchanges "draw" trading volumes and even IEO results. Unfortunately, many blindly believe them. This is going to be a massive problem in the future, more important than you can imagine. Those scam exchanges will become more prominent and will swindle more people, this will lead to a severe outflow of defrauded people from the industry, which can not afford it. Hybrid cryptocurrency exchanges are a new trend that I think can improve the whole industry. Not all hybrid exchanges have their own blockchain, NEXT was considered as the project most suitable for the description of a hybrid cryptocurrency exchange. Don't FOMO and don't hesitate to do your own researches before depositing funds on the exchange wallets or participating in an IEO.
Binance Customer Support Number +1 855 300-8358 #$%^&
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Move your mouse over Funds and then click on Deposits.
Click on the Select Deposits Coin and type in If you want to deposit using a different cryptocurrency, simply enter its code. ...
You will now be shown your unique deposit address. ...
You now need to copy the deposit address.
Binance Customer Support Number +1 855 300-8358 Can you use Paypal on Binance? Thankfully, How To Deposit Money Into Binance Use Paypal Cash To Buy Crypto and withdrawing cryptocurrencies with Binance is relatively hassle-free. ... You can now use your coins to buy any cryptocurrency binance supports. Anycoindirect Purchase Bitcoins and Altcoins securely, easily and quickly. Binance Customer Support Number +1 855 300-8358 How do you trade in Binance for beginners? How to use Binance for Basic Trades
Login to your Binance account. Nice and easy!
Click on Exchange on the taskbar and select Basic.
As you can see, Basic isn't very basic!
Choose a trading pair. Binance lists hundreds of trading pairs. ...
Choose which type of trade you want to make. ...
Choose the amount you want to trade.
Is Binance a wallet? Yes Binance has the wallet to store all listed cryptocurrencies. However, You should not store your digital assets on any exchange for long time. There are many news on hacking exchanges and digital assets of millions of dollars stolen. ... The best place to store your cryptocurrency is offline hardware wallets. Binance Customer Support Number +1 855 300-8358 Can I trade on Binance? With Binance, you can easily buy Bitcoin with cash, as well as other cryptocurrencies we offer on the platform. ... Once you buy crypto on this platform, you can immediately use them to trade for any of the 150+ cryptocurrencies offered on 450+ trading pairs on Binance. Binance Customer Support Number +1 855 300-8358
If you are planning to place assets into cryptographic types of cash like Bitcoin or Ether, in any case, you do not understand where to start, this Gemini exchange review will help you with choosing. Gemini Bitcoin Exchange Review 2020 You need yourself to be a productive advanced cash intermediary. By what technique will you become? To help you here's an exchange review, which will give every one of you the low down information required for a powerful enthusiasm for one of the most trusted in stages the Gemini Exchange. We should find all the more right currently review Gemini Review : About Gemini Exchange Twin kin developed Gemini Winklevoss in the year 2014. The Gemini exchange is arranged in New York. The Gemini crypto exchange is open in essentially all US states, similarly as UK, Canada, Puerto Rico, Singapore, South Korea, and Hong Kong. In 2016, Gemini transformed into the world's recently approved Ether exchange. It positions 82th greatest exchange on earth as showed by 24-hour volume on Coinmarketcap. While Gemini Bitcoin and Gemini Ethereum trading volumes are high, the exchange is endeavoring with all undertakings to fight with those stages offering a predominant piece of the cryptographic types of cash, for instance, Binance. Reinforced Currencies Gemini offers crypto to fiat portions and a BTC/ETH grandstand, which makes it a quick contender to any similarity to Coinbase, Bitstamp, and Kraken. At present, it is one of the most respected and ensure about exchanges open. This is in light of the fact that it has more features to help secure customers against developers. Also, it is one exchange for the CBOE Bitcoin future settlement. Gemini Mobile application is directly available, which is amazingly basic and versatile to use. How to use Gemini? https://preview.redd.it/qnowl19fwaj41.jpg?width=720&format=pjpg&auto=webp&s=1819eeac9d4c44681c0afe616d387b60a78f7c8e 1) Go to the official site and snap the "Register" tab on the upper right corner. Enter your name, email address, and mystery word for your own record. While affirming your email address, it is critical to : Affirm your email address and enter both your region and phone number, by then you can set up 2-Factor Authentication (2FA) which will be an additional layer of security to your record. Incorporate your monetary equalization. Starting at now, Gemini recognizes simply bank moves and wires, as a methodology for putting away holds. To check your record, move your organization ID proof. This will help you with executing and trade US Dollars. Moreover, it will help Gemini with as per the Bank Secrecy Act (BSA) and Anti Money Laundering (AML) rules. The affirmation time may run from a couple to a couple of days. 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The maker charge is 0% for 30-day trading volumes that outperform 5,000 Bitcoin or 100,000 Ether. For a comparable trading entirety, the taker run after will bubble to 0.10%. Gemini uses dynamic maker and taker charge or reimbursement timetable, and sellers can get reimbursement on liquidity-creation trades. The particular entireties depend upon net trading volumes and the buy and sell extent over a multi day time allotment. The data are adjusted as expected and more information on charges can be found here. https://preview.redd.it/exgucn9gwaj41.png?width=225&format=png&auto=webp&s=34fc66d46df40444abcc9ac61308106b2e3f57c0 charges Concerning purchases, the base purchase whole for Bitcoin is 0.00001 BTC, or 1000 satoshis, for Ether, the base sum is 0 .001 ETH Security-at-Gemini Bitcoin Gemini Reviews, is a strong exchange that has a better than average reputation in everyone. The exchange goes about as a way into the universe of cryptographic cash trading. This may be in light of the fact that various customers first quit concerning purchasing Bitcoin and Ethereum. In comprehension to Coinbase, Gemini has a near space. Wherein it allows its customers to make trade clearly to and from their records. Gemini is a not too bad choice, for people looking to securely trade either Bitcoin or Ethereum. The exchange is a potential decision for new competitors to the market similarly as logically settled sellers who like to make trades by methods for their monetary adjusts. Latest News Dec 17, 2019: Well realized cash related pro association State Street picked Gemini exchange for the new propelled asset pilot adventure. Nov 19, 2019: Gemini exchange wanders into NFT's and acquired Nifty Gateway Solution, a phase to buy Non-Fungible Tokens. Nov 14, 2019: The exchange added Stop-Limit to the solicitations being executed on the stage. Sep 11, 2019: Gemini dispatches Gemini Custody with 18 cryptographic types of cash Sep 5, 2019: Gemini Clearing™, a totally electronic clearing and settlement answer for off-exchange exhibited by the stage Aud 27, 2019: Gemini Joins the Silvergate Exchange Network Aug 22, 2019: Gemini loosens up and reaches to Australia April 15, 2019: Gemini wallet support Segwit Gemini Bitcoin Exchange Review Rundown: How to Buy Bitcoins by means of Gemini Register a record at Gemini and check email code sent to you. Set up two-factor validation (2FA). Give checked ID as a major aspect of the confirmation procedure. Include ledger. Store cash by clicking "Move Funds", "Store into Exchange" and afterward picking the sort of bank move. Snap "Purchase" catch and round out the buy structure to get BTC. Is Gemini Safe? Gemini is extremely worried about its clients' wellbeing, in this manner it utilize three arrangements of security... MORE Gemini Comparison with Other Exchanget To exchange bitcoins you have to initially peruse and think about various BTC trades... MORE In Which Countries Is Gemini Available? You can arrange bitcoins through Gemini nearly in any nation, yet discover where you can't... MORE Guide: Buying BTCs at Gemini It is anything but difficult to purchase bitcoins on Gemini trade, knowing the essential standards and prerequisites... MORE FAQ Discover to what extent the exchange takes, how to pull back BTCs and what strategies for... MORE Practically equivalent to Bitcoin Exchanges We have arranged a rundown of trades, notwithstanding Gemini, that can assist you with requesting bitcoins... MORE With developing worth and system, bitcoin is ready to turn into the main online resource in the realm of ventures. Gemini bitcoin trade survey This article is worried about one of the most well known trades with regards to BTC exchange, Gemini. What Is Gemini? Gemini is one of the realized digital money trades that offer an assortment of exchange apparatuses for speculators that have some involvement with the business. The organization that claims the stage is enrolled as LLC in New York State, USA, offering USD to BTC and USD to ETH exchange trade. Purchase BTC at Gemini Propelled in 2015, Gemini offers two unmistakable commercial centers, them being: customary trade administrations; bitcoin barters. Upon its appearance, the stage offered its administrations in the US just, bit by bit including different nations all the while. The organization is possessed by the Winklevoss twins, who guarantee that they are have about 1% of the complete BTC volume. Winklevoss siblings are Gemini's proprietors Gemini Security With regards to the wellbeing of your assets, Gemini applies three arrangements of safety efforts that should be referenced. To start with, the stage applies advanced money safety efforts by offering hot and cold stockpiling wallets, where cold wallets have multisig capacities to forestall hacking endeavors at your equalizations. Gemini security The subsequent measure is identified with the exchange where the entirety of the exchanges at Gemini are led through pre-financed accounts, implying that merchants and purchasers can't post orders on the off chance that they don't have adequate BTC or fiat monetary forms in their parities. Finally, the site security comprises of two-factor verification (2FA) and HTTP encryption of all data in regards to merchants and stage's exchanges from outsiders. Accessible Payment Methods As of now, Gemini acknowledges stores communicated distinctly in ACH (for US dealers) and wire moves (for every other person) communicated in USD. Credit or check cards, money stores, PayPal and numerous different alternatives are wanted to be remembered for the future however are not accessible at the present time. Buy bitcoin by means of wire move You ought to buy in to the Gemini news source since the organization will promote the new store strategy through that channel of correspondence. Shouldn't something be said about Fees? While saving or pulling back your assets communicated in fiat or computerized monetary forms, dealers would find that the administrations are done totally free. Then again, Gemini charges exchange expenses are charged dependent on a month to month net exchange volume. Taker charges can extend from 0.15% to 0.25% while creator expenses from 0% to 0.25%. Expenses at the trade Does Gemini Have Limits? Cryptographic money and wire stores and withdrawals don't have any constraints forced on dealers, implying that in the event that you utilize the said administrations, you can buy, sell and pull back bitcoins with no deterrents. Singular American financial specialists utilizing ACH move, then again, have $500 every day and $15.000 month to month while institutional individuals have $10.000 day by day and $300.000 month to month store limits. No restrictions for purchasing bitcoin Gemini Comparison When thinking about exchanging at any trade, you should hope to analyze the administrations, expenses and impediments with other comparative stages. In this manner, we have assembled an examination investigation where we benchmarked Gemini against two other well known decisions with regards to BTC buy: Kraken and Coinbase. Gemini versus Kraken Kraken, much the same as Gemini, acknowledges bank moves just, with the significant contrast being that Kraken permits 5 fiat cash stores. Notwithstanding bitcoin, there are 14 more altcoins that you can exchange with at Kraken while the two trades force check on their customers as they are both controlled organizations. Gemini versus Kraken Kraken is fundamentally the same as Gemini as far as expenses, as creatotaker charges go somewhere in the range of 0% and 0.26%. Bank moves do accompany little expenses at Kraken while Gemini acknowledges stores for nothing. In conclusion, while Gemini exchanges two or three nations in particular, Kraken is all around accessible. Coinbase versus Gemini Coinbase is viewed as one of the biggest bitcoin suppliers on the planet, offering its administrations in 32 nations, USA notwithstanding. The installment strategies at Coinbase are PayPal, bank moves and credit/check cards, two more than Gemini. Request bitcoins by means of Coinbase trade Confirmation is an absolute necessity have at Coinbase, much like in Gemini while expenses are a ton lower at Gemini, as you pay between 1.49% to 3.49% from exchange's an incentive at Coinbase. The two trades offer BTC vaults and wallet administrations while Coinbase additionally exchanges with Litecoin which are inaccessible at Gemini. Gemini BTC Exchange in Different Countries Gemini's administrations are accessible in a bunch of nations around the globe, them being the US (5 states not upheld), Canada, Japan, South Korea, Hong Kong, Singapore and the United Kingdom. The five US expresses that are not bolstered are Alaska, Arizona, Hawaii, Oregon and Wisconsin. Gemini trade in various nations Is It Legal? Gemini is an American LLC that adheres to New York Banking Law guidelines, actualizing BSA (Bank Secrecy Act) and AML (Anti-Money Laundry Compliance Program) arrangements, implying that customary reviews of the BSA/AML programs are being executed. Moreover, the firm requires all merchants to have reserves pre-saved before the exchange. Bitcoin Gemini Price, is legitimate Another significant factor of the stage's lawfulness is the way that since its beginning, Gemini has promptly accessible money related report dating 7 years back. Does Gemini Support Its Customers? Concerning the client service, Gemini has a thorough FAQ page where a large portion of the exchanging questions have been replied. Notwithstanding the FAQ, you can likewise top off a shape and present a solicitation to the Gemini group with respect to any issue that you may look on the stage. Gemini client service Because of the regular upkeep of the site's administrations, Gemini has a "Status" page where financial specialists can see which administrations and API instruments are working right now and which are definitely not. Manual for Buy Bitcoins from Gemini When you have gotten the cash at your Gemini account, click "Purchase" button on the dashboard page. Buy page for bitcoins at Gemini Presently, round out the structure on the right, giving request type, volume or estimation of BTC you wish to get and click "Purchase" to get bitcoins in your record immediately. Try to check the BTC cost at the upper left piece of the "Purchase" page to ensure it has not changed at the time you have begun the buy procedure. Enrollment It is totally allowed to enroll a record at Gemini bitcoin trade and the procedure begins once you click "Register" button at the upper right corner of the site. Give your complete name, email address and secret key in subsequent stage and snap "Make My Account". Make account at Gemini You will get an email code which you should duplicate glue into the Gemini's check page. Contribution of enactment code on Bitcoin Gemini Registration The accompanying advances will open up for you to finish, in this way you have to arrangement your 2FA security apparatus, include a financial balance and give checked ID to finish the enrollment methodology. To what extent Should I Wait for Verification? Check stage can take between an hour and a day, contingent upon various enlistment applications Gemini has right now you have begun the procedure. You ought to set up every single essential report before you start and arm yourself with persistence as a stage would set aside effort to process your data. Confirmation process at Gemini Would you be able to Get Bitcoins Without Verification? At the enlistment page, you are required to check your personality and frog your financial balance. When you have presented the records, you can't enter the stage's exchange page until the help affirms your subtleties. In this way, it is unimaginable to expect to buy supply of bitcoins without confirmation. Obligatory confirmation before purchasing BTCs at Gemini How to Add Money to Account? When you have finished the enrollment and confirmation of your record, click button "Move Funds", situated in the top segment of your dashboard page. In following stage, click "Store Into Exchange" and pick either USD or Wire alternative, contingent upon what financial balance you have included at enrollment stage. Add assets to Gemini account You can likewise store bitcoins in your Gemini wallet too. Store BTCs in the Gemini wallet At the last phase of wire move subsidizing process, you have to give bank's wiring data, for example, your record number and other significant data that can be found by clicking "Bank Settings". Give bank's wiring data When data has been given, basically click "Store" button which will show up at the base of the page. Secure Your Account Keep the entirety of your record and wallet passwords out of the programmer's compass by continually evolving them. Monitor the new secret key by keeping in touch with them down on a bit of paper as to not overlook them meanwhile. Record with 2FA on trade You as of now have 2FA from the enlistment stage and don't give your private data to some other dealer on the stage. FAQ To what extent Does It Take to Make Transaction? It takes 4 to 5 days to store assets in your Gemini account while exchanges themselves are done following you the exchange started. Diverse request types have distinctive length, contingent upon what dealer wishes to accomplish. Sitting tight for exchanges on the trade Would i be able to Buy Bitcoin with PayPal at Gemini? Now, brokers can't utilize PayPal as store technique at Gemini. You ought to buy in to the trade's news channel as to get warnings if the strategy opens up to store alternative later on. Does Gemini Have a BTC Wallet? The stage offers two kinds of wallet administrations, one being "hot" wallet and another being vault stockpiling. Both are based just, with the principle contrast being that vault stockpiling gives extra security keys that are utilized while moving bitcoins all through the wallet. Along these lines, vault administrations are esteemed as more secure than the standard BTC wallet. Gemini wallet Pulling back Your Bitcoins from Gemini At the dashboard page, click "Move Funds" and afterward "Pull back From Exchange" to begin the procedure. Pick bitcoins to continue towards the withdrawal structure. Determine the measure of BTC you with to escape the trade and give your wallet address. Snap "Survey Withdrawal" and check the data. When you are fulfilled, click "Affirm" to end the procedure. Your coins will show up inside 24 hours to your ideal area. Pull back BTC from Gemini Instructions to Order BTC with Credit/Debit Card at Gemini As with PayPal, it is preposterous to expect to buy bitcoins with the assistance of credit or charge cards at Gemini, since the choice isn't accessible right now. Stay aware of trade's news and declarations as the CC/DC choice may open up later on. Gemini Mobile App Portable stages are yet to be created by Gemini, implying that exchange is accessible on perusing stage as it were. Watch out for the declaration, as the organization may make the push towards telephone exchange not so distant future. Purchase BTC just on Gemini perusing stage Gemini Analogs Aside from Gemini, we at BitcoinBestBuy have checked on numerous different stages that can assist you with getting bitcoins effectively and securely. They all change regarding local accessibility, expenses, buy strategies and confirmation necessities, so make a point to check different articles also. Get BTC at digital money stages Coinbase Exchange Review Being one of the biggest BTC exchanging stages the world, we made a survey of their charges, store choices and other important data with respect to the trade. We have likewise given bit by bit controls on the best way to buy and pull back assets and coins from Coinbase. Coinbase survey Full Review Coinbase Bitcoin Gemini Exchange Find out About Kraken Kraken is another trade that offers bitcoins through bank moves and its administrations are all inclusive accessible. We made a survey of Kraken's advantages and disadvantages, giving our customers a diagram of the trade as far as expenses the organization charges, check prerequisites and buy procedures of the stage. https://www.cryptoerapro.com/bitcoin-gemini/ http://www.cryptoerapro.com/ https://twitter.com/cryptoerapro https://www.instagram.com/cryptoerapro/ https://www.pinterest.co.uk/cryptoerapro/ https://www.facebook.com/cryptoerapro https://www.facebook.com/pg/bitcoingeminibot https://www.facebook.com/events/282310836080639/
[EU] [FIAT GATEWAY] Bitvavo.com is a new fiat ramp for NANO!
Hello dear NANO'ers, I come with great news. Bitvavo - a DUTCH exchange, secretly has fully implemented NANO on their exchange! This means you can buy AND sell NANO for Euros! Bitvavo is a DUTCH exchange, under Dutch/European law, having its HQ within the Netherlands. This is AMAZING. I made a post about Bitvavo adding nanos last year, back then you couldnt send/withdraw NANO (so it was fully artificial), but now its fully operational! Why is this a big deal? Its an European exchange, falling under European laws (Dutch to be precise). Since i live in the Netherlands, this to me is just amazing. The dutch are a meticulously kind of folk. Dutch laws are quite strong and complicated and regulations are strong here. To have a working fiat ramp exchange that hasnt been shutdown by authorities, means it has a certain degree of Trustworthiness (at least for me and Dutch laws, which are stricter then European laws mostly). Is it any good? Well, i first deposited euro's on the website (which you cant hold for longer then 5 days, since it isnt a bank and certain laws are preventing that), which went 'pretty' fast. I bought nano's with it (which was instant), and then i withdrew NANO's from it...which went through in SECONDS. Yes. Seconds. I put the order in, went to Binance to check things out and literally a few seconds later i heard the ping from CANOE. I couldnt believe it lol. I actually was in awe and suddenly became extremely enthusiastic, and immediately bought more lol. What about fees? They take maketrader fees of 0.25%. In my eyes, that isnt much. For withdrawal they also have fee, but its around 0.00025 nano if im right. Its crazy low. And crazy fast. Are there any negative parts? Well, its a dutch company but it isnt coinbase. If the whole world flocks towards it, i can see the website going down because the server can't hold that weight. This is theoretically, but those who experienced the 2017 run know that a lot of exchanges either went down (for a few hours/days) or stopped accepting new registrations because their servers couldnt handle it. I feel the same is with Bitvavo, its a small dutch exchange, not a big one. Other negative parts? I don't think they have much nano lol. After my first purchase i was SO impressed with the speed and low cost of it, i bought more. The second time i bought, i received a message that this was going to be processed manually. For the long run i cant see this being a problem, it just means they have to buy more NANO, which will only help NANO :) Now besides those, you do need to do a KYC, and i havent read in about any international KYC. The KYC is necessary for you to trade on the exchange. For me, i had to link my bank account to my account on Bitvavo (the same way you do it with Paypal). You can only send/receive money from/to your (linked) bank account to Bitvavo (if through IDEAL, not sure about SEPA etc). I find this acceptable to be honest for a EUROPEAN/trustworthy fiat gateway. Payment methods (including fees):
SEPA Overboeking (0%)
It has been a while since i sold crypto for Euro's on the site, but it worked pretty fast. The next day, the money was sitting in my bank account :) it wasnt much though (around 100 euros), but it passed the test for me back then. Unless we go in to a massive bullrun, i prob wont be selling my NANO for fiat anytime soon anyways. I am more searching for ways to pay internet services for NANO :) Hopefully one day we can pay for everyday things with NANO, like groceries or liqueur etc. Bitvavo has many many other coins too (besides btc,eth, xrp) like ADA, ICX, IOTA, Vechain, NEO etc. So if you want to trade your NANO with other crypto's, it is another way besides Binance (though i would still use binance for it). THis is a huge step. For very low cost, and extremely fast speed, we (Europeans in general) have an amazing gateway towards NANO. Together with Coingate integration of NANO, and NANO amazing ease of use - i cant see any other way besides NANO becoming a smashing succes. The only weird thing about this is Bitvavo own marketing. They did this all in silent, for reasons unknown to me since this is HUGE news for me (and a lot of Dutch/European citizens that have access to IDEAL). Now, i have to SHILL NANO a bit more here, because i am really getting hyped once again. I feel even more positive about NANO then back in dec 2017 to be honest. Remember guys, NANO is just at #48 in CMC. 48! While its utility is much better then 99% of ALL crypto! Infact, NANO is the ONLY usuable crypto RIGHT NOW besides maybe Eth for Dapps. Look at the marketcap of LTC, which in EVERY aspect is a worse coin then NANO. Then calculate how much a single NANO would be worth if it would have LTC marketcap... NANO has STILL SO MUCH to grow, its crazy. Its like getting Bitcoin back in 2011/2013. Pay for your products online FASTER and more reliable AND cheaper then Paypal (conversation rate), credit card (% rate per month/year) or bank. Since V18 has come out i have been EXTREMELY impressed by NANO. So much that i have doubled my (relatively small) stack and i have (once again) started to accumulate slowly. News like this (Bitvavo) just makes me more hyped for NANO. Together with a website where i can actually buy their services with NANO - and i am planning to use it more, i cant be more positive. NANO may have had a hard time in 2018 price wise, but DAMN the team has done an amazing job with its tech throughout the bear market. Mad props to you Colin AND your amazing team. Props to Coingate for having an amazing service too! Once NANO has been proven to scale to 1k+ (with 7K being a nicely goal) + an automatically representative node assignment through wallets (to make NANO more decentralized), i cant see nano NOT becoming a top 10 - or even a top 5 coin. As a payment coin, NANO truly knows no equal! EDIT: a MAJOR edit here, before you guys get TOO excited. PLEASE look in to the exchange pricing too! Bitvavo might be selling (or probably IS) NANO for a higher rate then for example Binance (this is apart from maketaker fee and withdrawal fee!). It isnt the same price as you pay on Binance, with the conversion rate. So for the same EUUSD, you will get less NANO compared to Binance (if you could pay directly for it). So keep that in mind, u/dotcoml said it actually was 2%. I personally didnt bother doing the math nor do i mind a 2% fee to exchange my fiat for NANO (it still is better then credit card, and for its speed/usability, i dont mind paying 2% more compared to FIAT either), but it still is 2%. Keep this in mind! EDIT2: other users are reporting Bitvavo actually having LOWER prices then Binance :) please check it out for yourself!
Pseudo-bank [Revolut] has frozen my last salary deposit. Possible actions?
First off, I want to acknowledge that my situation is, to say the least, "convoluted". Also, by "pseudo" I'm not saying that in a derogatory way. Revolut is not a bank. I am: A German national. Living in South America (I move - used to - a lot, but have staid here for a while because family) Working for a UK based company (Been working with them 12 years). My current banking solution is, as stated, UK based. Almost 2 years ago I opened an account with Revolut and have been useing it since. I also have an account in a Spanish bank, but switched it to Revolut because it's been a pain to keep it open (I still do, but it's currently frozen and will probably get closed due lack of use). Early this morning I received my salary deposit, and it said something to the tune of "This deposit is under review" and when I open the app it shows as pending. Besides my salary, I receive a monthly transfer from my Paypal account that originates in Airbnb, but is a fraction of what my salary is (Say, around 1/6 of my income is Airbnb). I also have topped the account a few times with my Spanish and Argentine credit cards. Finaly, due to the characteristics of the country in which I'm currently living, for the past 2 months I've been transfering almost all my salary to a bank account that belongs to Binance, a crypto exchange (As the best way to enter the money in this country right now is bitcoins). Before Binance I'd use Localbitcoins, but stopped using it because my account was locked once when doing a transfer (It was unlocked almost immediatelly after I contacted support, explained what was that transfer about and provided proof of the operations). Ever since I opened the Revolut account I've been doing this (I did it before, as well, with my Spanish bank account). I don0't keep any of the bitcoin I buy, I convert them to local money immediately. Now, his is a company out of which it's very difficult to get some response from, and would like to know what are my option here, if any. I couldn't get any information from the chat person about why the account is frozen. I provided them with my last 3 invoices to the company I work for. I have my work email registered in the app, and if you google my name with the company name there are only a few matches for it, being the first my LinkedIn profile (I suggested the support person to do that). There are a few questions I'dlike to know th answer of: What information can I request from them regarding the blocking? Are they supposed to give me any, are there any regulations regarding this? For how long can they have the deposit frozen? Can I ask them to transfer the money elsewhere, or to reject it so the money gets back to my company? (In which case I'll see how to move from there) As this is my salary, is there any fast way in which I can ask them to resolve this issue? https://blog.revolut.com/why-has-my-account-been-locked-and-how-to-regain-access/ They have provided me with that page; Basically they say that they are complying with FCA regulations, and also that the locking is automatic. Is there any regulation from the FCA that could help me unlock my account? The only way they provide support is via the chat feature of the app; aren't they mandated to provide other means of support? Also, as this is the UK, if thighs go south can I use the GDPR to get from them whatevere info they have regarding what was it that fired their automated systems? Thanks for the replies, and apologies upfront if this isn't the correct subreddit to ask about this.
Which are your top 5 coins out of the top100? An analysis.
I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year? Here is a complete overview of all coins in an excel sheet including name, a full description, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0 The 12 markets are
Currency 13 coins
Platform 25 coins
Ecosystem 9 coins
Privacy 9 coins
Currency Exchange Tool 8 coins
Gaming & Gambling 4 coins
Misc 15 coins
Social Network 4 coins
Fee Token 3 coins
Decentralized Data Storage 4 coins
Cloud Computing 2 coins
Stable Coin 3 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue, scalability, first: Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Their goal is to replace dollar, Euro, Yen, all FIAT currencies globally. The coin that will achieve that will be worth several trillion dollars. Bitcoin can only process 7 transactions per second (TPS) currently. In order to replace all FIAT, it would need to perform at least at VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate. For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, possibly creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet. With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible TPS soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 TPS with Sharding. However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove themselves decentralized while maintaining high TPS. Without further ado, here are the coins of the first market. Each market is sorted by market cap.
Market 1 - Currency:
Bitcoin: 1st generation blockchain with currently bad scalability, though the implementation of the Lightning Network looks promising and could alleviate most scalability and high energy use concerns.
Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte’s adoption over the past four years has been slow. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
Bitcoin Diamond Asic resistant Bitcoin and Copycat
Market 2 - Platform
Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka the Raiden Network, Plasma and its Sharding concept.
EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. There are lots of red flags, e.g. having dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product. However, Mainnet release is in 1 month, which could change everything.
Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
Stellar:PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments.
LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. Like most cryptocurrencies, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
Ontology: Similar to Neo. Interesting coin
Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
Nxt: Similar to Lisk
Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.
Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
Neblio: Similar to Neo, but at a 30x smaller market cap.
NEM: Is similar to Neo. However, it has no marketing team, very high market cap for little clarilty what they do.
Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.
Market 3 - Ecosystem
The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
Aion: Today, there are hundreds of blockchains. In the coming years, with widespread adoption by mainstream business and government, these will be thousands or millions. Blockchains don’t talk to each other at all right now, they are like the PCs of the 1980s. The Aion network is able to support custom blockchain architectures while still allowing for cross-chain interoperability by enabling users to exchange data between any Aion-compliant blockchains by making use of an interchain framework that allows for messages to be relayed between blockchains in a completely trust-free manner.
Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier.
Market 4 - Privacy
The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.
Market 5 - Currency Exchange Tool
Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners.
Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
Achain: Building a boundless blockchain world like Req .
Centrality: Centrality is a decentralized market place for dapps that are all connected together on a blockchain-powered system. Centrality aims to allow businesses to work together using blockchain technology. With Centrality, startups can collaborate through shared acquisition of customers, data, merchants, and content. That shared acquisition occurs across the Centrality blockchain, which hosts a number of decentralized apps called Scenes. Companies can use CENTRA tokens to purchase Scenes for their app, then leverage the power of the Centrality ecosystem to quickly scale. Some of Centrality's top dapps are, Skoot, a travel experience marketplace that consists of a virtual companion designed for free independent travelers and inbound visitors, Belong, a marketplace and an employee engagement platform that seems at helping business provide rewards for employees, Merge, a smart travel app that acts as a time management system, Ushare, a transports application that works across rental cars, public transport, taxi services, electric bikes and more. All of these dapps are able to communicate with each other and exchange data through Centrality.
Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, Bitshares had several Scam accusations in the past.
Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets by pooling all orders sent to its network and fill these orders through the order books of multiple exchanges. When using Loopring, traders never have to deposit funds into an exchange to begin trading. Even with decentralized exchanges like Ether Delta, IDex, or Bitshares, you’d have to deposit your funds onto the platform, usually via an Ethereum smart contract. But with Loopring, funds always remain in user wallets and are never locked by orders. This gives you complete autonomy over your funds while trading, allowing you to cancel, trim, or increase an order before it is executed.
ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.
Market 6 - Gaming
With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
Storm: Mobile game currency on a platform with 9 million players.
Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
Wax: Marketplace to trade in-game items
Market 7 - Misc
There are various markets being tapped right now. They are all summed up under misc.
OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
Populous: Populous is a platform that connects business owners and invoice buyers without middlemen. Furthermore, it is a peer-to-peer (P2P) platform that uses blockchain to provide small and medium-sized enterprises (SMEs) a more efficient way to participate in invoice financing. Businesses can sell their outstanding invoices at a discount to quickly free up some cash. Invoice sellers get cash flow to fund their business and invoice buyers earn interest.
Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
Ncash: End to end encrypted Identification system for retailers to better serve their customers .
Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .
Market 8 - Social network
Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.
Market 9 - Fee token
Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
BNB: Fee token for Binance
Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
Kucoin: Fee token for Kucoin
Market 10 - Decentralized Data Storage
Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester. The requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, You can think of SAFE as a crowd-sourced internet. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. Then, redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.
Market 11 - Cloud computing
Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
Elf: Allows easy use of Cloud computing in exchange for tokens.
Market 12 - Stablecoin
Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.
EDIT: Added a risk factor from 0 to 10. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor. EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x.
What’s up everyone! (TL:DR at the end this time, I've learned from my past mistakes haha)
Yep, it’s me again! New case for a new coin that seems to have taken off lately (and for good reason!) I’ve been researching it deeply lately. For those of you wondering (and in a voluntary spirit of being transparent), I do hold nice bags of the coins I post about. However I do not dump them. I’m a HODLER at heart, and love to invest in and hold coins that have a purpose. You know, like, an actual purpose. I have a Phore masternode, which i intend to keep running indefinitely. I also have a decent chunk of COSS, which I also intend to keep for a very long time (3+ years, until they are a full crypto one-stop-solution).
If you’ve missed my previous post, you can find it here:
For those who do not know me, or haven’t read my previous post, here’s my intro: I come from a business & logistics management background. I started investing in cryptocurrencies and trading a little more than six months ago. I am very detail oriented and I’ve been researching all kinds of cryptos, for hours a day, for the past six months. Cryptocurrencies went from a simple hobby to a burning passion during that 6 month period.
I’ve spotted great coins at great prices, and it seems I keep doing so! Firstly, Ethereum at 150$. Then NEO when it was antshares (sub-3$), Gas when it was antcoin (sub-30c), OMG when it was sub-1$, ETP at 1$ (ended up selling at 5$, too many wallet issues and kind of lost faith in it), COSS at 6 cents, that ended up getting a lot of visibility due to my last post (23K+ views), and finally, Phore at 60cents.
It took me less than an hour of research to understand Phore’s potential. I immediately purchased and setup a Masternode after seeing how undervalued it is compared to coins like Dash, PivX, and other privacy/masternode coins. I must admit, i FOMO’ed in really fast, but then kept on researching after I had secured my cheap PHR, and the more I researched, the more I saw the vision.
For those of you that don’t know, Phore is a fork of PIVX. It is a Masternode/Proof of Stake hybrid (MN + PoS), meaning 60% of the block reward goes to Masternodes, 30% to stakers, and 10% is left for the “development fund”.
For the newbs reading this (welcome, by the way!), a masternode is basically a node that you deploy on a virtual server (or on your own computer) and it basically verifies the blockchain and maintains concensus alongside the other nodes. You need to “lock” 10000 phore to deploy a Masternode. Proof of Stake, on the other end, basically means you can purchase coins and “Stake them” (aka put them in your wallet) and they will also be used to validate the blockchain. Both masternodes and staking will give you rewards, in Phore coins. Masternodes more than staking, obviously, as you “lock” a rather high amount of coins to deploy one.
Allright, so, what’s so good about this Phore coin? Isn’t it just a PivX knock-off?
1) Well, first of all, The MN/PoS structure is simply genius IMO. Dash’s value has gone up a lot simply because there is so little in circulation and most of the coins are locked up in masternodes. But Dash is MN/PoW, basically Masternodes + Mining. Miners do not have as big an incentive to hold unlike MN’s, it’s their mining equipment that generates them Dash. In Phore’s Case, yes, we do have the Masternodes locking up most of the supply, but we also have the stakers that are incentivized to lock up their coins to stake, and generate some extra coins.
2) Which brings us to point 2. There is a BIG incentive to buy and hold this coin. Masternodes are being deployed at a rate of 5 to 10 per day. This means 50 to 100k phore are being purchased and locked up, every day. On top of that, people that cannot afford a costly masternode, can still buy a few thousand coins and earn “interests” as they help validating the blockchain too! This basically drains the order book, fast, and skyrockets the price.
3) What happens when the vast majority (65%+) of the coins are locked up in masternodes, and from the 35% remaining, most of it goes into “staking”? Here’s what happens: the supply becomes increasingly low, the demand increasingly high. People that own masternodes or own decent amounts of coins don’t wanna sell, as the “interests” they make double, triple, quadruple in value, incentivizing them even further to hold.
4) What I’ve described in points 1 to 3 is pretty basic stuff. Economics 101. It’s a positive feedback loop: More MN’s/stakers = less coins in circulation = higher price = higher “interests” earned = more people want in = even less coins in circulation = even higher price = even higher “interests”, and it repeats itself until an equilibrium is reached (judging from PivX, equilibrium is at or around 425M market cap). Everybody wants in early on PoS coins, even moreso with MN coins, because of that simple fact. Early dash masternode owners are pretty much laughing right now. Everyone FOMO’s a good masternode coin, and that’s a fact, pure and simple.
5) Alright, now let’s dive into the actual “technical” merits of Phore. Phore is developed by an anonymous team. The same team that created Kryptcoin a few years ago (a coin with a decentralized marketplace). The team performed in a stellar fashion with kryptcoin, as well as their marketplace. Unfortunately, they were way ahead of their time with the marketplace. Most people didn’t even know what a bitcoin was back then. Phore definitely has this “old school, underground project” feel to it, and you will notice a good chunk of its community on discord are crypto believers from well before crypto was even talked about. They are “remaking” Kryptcoin from scratch, with tons of added features, and an even better marketplace. The fact they pulled it off back then only further reassures me that they will pull it off even better this time. This team actually has something under its belt.
6) Phore will have SegWit, as well as Smart Contracts. Yep, you read that right, smart contracts and dApps will eventually be running on PHORE. Zerocoin protocol as well for completely anonymous transactions.
7) Phore is integrating a Decentralized marketplace based on OpenBazaar’s codebase. They aim to have it running smoother, with a better UI and make it very intuitive. If there’s one team you have to believe can pull it off, it’s definitely the Phore dev team (They already did it in the past!) And the best part is that it’s not for late 2018 unlike some other coins. Nope. We are already in the testing phase, and it should launch somewhere in Q1 2018.
8) Although it is obvious, I thought I’d mention it for the less familiar: 10% of each block reward goes to the development fund. This means the project has a constant flow of money to hire new devs, grow the marketing team, grow the project, pay for exchange listing fees, etc. (They’ve already added an extra dev & an extra marketing team member, just this week, and are already hiring right now for another dev position. So, if you are a talented dev, feel free to apply!)
9) They have applied for Binance today. Although this does NOT mean it is guaranteed, at all, it’s good to see them applying to a variety of exchanges. It is currently only available on cryptopia and is skyrocketing. Getting added to Binance, Bittrex and the likes would make it explode in a ridiculous way.
10) Point number 10 will be a little off topic, to put us in context for point #11. Personally, I like to contribute feedback to projects i truely believe in. One example I came up with was a cool idea for COSS and I let Rune (COSS founder) know about it. Basically, when COSS will get FIAT trading, it is impossible for people to get USD and EUR “fee split” from holding COSS, as USD and EUR are not compatible with the DAO, which is an Ethereum Smart Contract.
My way around this was to create a “COSSusd and a COSSeur”, basically an ERC20 token that’s automatically created/destroyed as FIAT is deposited/withdrawn from the exchange. People sending fiat over to COSS would basically be credited with the “COSSusd or COSSeur”, trade with it, and then when they want to withdraw they would exchange their ERC20 for FIAT and withdraw it via wire transfer. The whole thing would be smart-contract powered and transparent so there is always the same number of COSSusd and Real USD on COSS.
Basically, this would result in COSS holders receiving “fiat dividends” as well, and not only “crypto dividends”. Rune is currently in the process of getting legal opinion on this idea as he is an adamant believer in compliance and wants to do everything by the Book.
11) Well, for Phore, I’ve also contributed a few ideas to attempt to make the marketplace go viral. Viral as in mainstream viral, not only viral in the crypto-space. The devs, advisors, marketing team, advisors and even the community were all very impressed and took notes of everything. Now I cannot comment on what will and what won’t be implemented, but overall my feedback was received in an extremely positive manner. Here goes:
Basically an easy gateway that's only fiat > phore. Coded in a way that when you purchase with fiat it automatically sends it to your wallet (and obviously we'd need to have a phore mobile wallet app).
This is how Phore will go mainstream, no way around it, unless we wanna wait 10+ years for every crypto "newbies" coming in to actually go through the lengthy process of learning about crypto, how they work, familiarize themselves, etc. So many newbies flooding in, we definitely need easy one-click fiat > phore solution.
Plus it would be super easy for me or phore marketing team (or both, working together) to put up a small nice and concise "press release kit" and send it out to all the major media outlets (all the big blogs, bloomberg, yahoo finance, lifestyle blogs for the libertarian / marijuana users / all the people that are into the whole “freedom thing” as well as all media outlets targeted to the 18-30 crowd).
Facebook advertising campaigns (targeting 18-35 age range, people interested in crypto, people interested in "online commerce", etc etc.) as well as google advertising campaigns (people search amazon or ebay, and they find our sponsored paid ad on top saying "thinking of trying amazon? Check out the phore marketplace, it's cheaper, blockchain-powered and 100% decentralized".
*Instagram campaigns as well, lots of the 16-30 crowd there. Instagram, google, Facebook and Reddit campaigns and any other viable channels. We can do all these things AND succeed at them quite easily, all we need is 1) an intuitive marketplace, which the devs are busting their asses off to achieve and we KNOW it'll be phenomenal, and 2) a fiat > phore gateway integrated. That second point will make or break it in terms of mainstream adoption, hence why it's indispensable to have it before we tackle "mainstream marketing" via FB, IG, Google, Reddit, Twitter, Blogs & Other Media outlets.
Ideally the fiat > phore gateway would be on the website itself, so people get credited their phore directly on their marketplace account. With a mobile wallet being a nice add-on of course so they can keep the extra phore in there when not in use, and 1-click transfer from marketplace to mobile wallet and vice versa, "a la paypal/dash evolution.
TL;DR for the lazy: Masternodes + PoS // Self-sufficient project due to the “treasury fund” // Stellar team who has ALREADY DONE THIS before // Currently underserved (cryptopia only) // Team applied to exchanges including Binance// Segwit + Smart Contracts + Strong privacy features // Decentralized Marketplace being beta tested as we speak and launching Q1 2018 // Strong incentive to hold as both Masternodes AND stakers dry up the supply for staking purposes, which creates a positive feedback loop (coins get bought, price goes up making the “staking & MN rewards go up”, making more people want a MN or Stake, more people buy, price rises again, “interests” earned go up, rinse and repeat in an endless loop until equilibrium is reached).
Currently, a masternode generates roughly 120phweek. Calculate Phore’s current price multiplied by 120 and you’ll get a pretty solid estimate of the weekly revenue generated from a Masternode.
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