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This post is going to be a detailed review on the best Android Bitcoin wallets however, I’m doing my part by warning you that mobile wallets are the least safe type of bitcoin wallets.
Read: Types of Bitcoin Wallets

The reason behind this is the fact that mobile devices can be easily stolen, lost or broken. The private keys will be stored on your device if you possess a mobile wallet. So, if your device gets destroyed, your coins can’t be accessed either. Meanwhile, if you have a backup pin created for your wallet that you have stored in a safe place, your coins can be retrieved.

Now let’s get on with the reviews!

  1. MYCELIUM Android Bitcoin Wallet

Mycelium is a well-known mobile wallet that provides advanced privacy and security features to its users. It is an open source software program and thus is frequently updated to become a safer and faster wallet in the market. The coins can only be accessed through the mobile wallet as it does not have a web or desktop interface.  One of the major benefits is that you can use Mycelium along with a hardware wallet in order to achieve maximum security of your coins.

  1. AIRBITZ Android Bitcoin Wallet

Airbitz is another well-known open source Android Bitcoin wallet. The wallet is quite similar to BreadWallet because of its simplicity but packs a variety of features to enhance the security of your coins.

  1. BREADWALLET Android Bitcoin Wallet

BreadWallet is known to be one of the simplest android wallets out there. It consists of very basic “send” and “receive” options which make it very easy to use. At the moment, it is only available for Android and iOS.

  1. JAXX Android Bitcoin Wallet

Jaxx is comparatively new and proves to be a strong option among the other mobile wallets. It has the ability to hold a diverse variety of cryptocurrencies, it can also allow you to access your funds from multiple devices. However, one drawback of Jaxx is that it is not an open source software program, which has raised to a lot of safety concerns recently. You are recommended not to store large sums of coins.

  1. COPAY Android Bitcoin Wallet

Copay is a multisignature wallet created by BitPay. Multisignature means that the wallet requires more than one person to approve a transaction before its confirmation. This gives it an increased amount of security if that’s your main concern. Copay has an iOS, Android, and desktop version.

  1. GREENADDRESS Android Bitcoin Wallet

GreenAddress is a solid choice for people who are well experienced with Bitcoin as it has a bit of a weak user interface. Regardless, it offers good features needed to keep your coins secure.  If nothing works out then GreenAddress has got your back!

 

Just a reminder that not every wallet application on Google Play Store is verified. Some apps are created with the sole purpose of stealing the coins you transfer on to the mobile wallet. So, you’re advised to do your research before trusting any unknown wallet. Be sure that you are downloading the official application and not a malicious wallet.

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Man Pays for New Home with Bitcoin in Texas

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Kuper Sotheby’s International Realty is a Texas-based real estate firm that just made its first sale of a property using Bitcoin.

Bitcoin is gaining a massive amount of media coverage the past few years and has become the world’s most popular digital currency. For starters, it was just buying everyday items. This later expanded to purchasing flight tickets and online games and now you can buy luxurious items such as yachts, a suite, and a custom-built home.

While the price of the home hasn’t been revealed, the buyer focused more on the ease of the transaction. He simply transferred the coins to the seller’s wallet, who converted them to U.S. dollars.

“In all of my 33 years of closing transactions, I honestly couldn’t have expected something so unique to go so smoothly,” said Kuper Sotheby’s Sheryl Lowe, the buyer’s agent, in a press release. “In a matter of 10 minutes, the bitcoin was changed to U.S. dollars and the deal was done!”

This shuts the comments made about bitcoin being “a fraud.” Moreover, it shows that more and more people are now beginning to accept cryptocurrencies and applying them in their day-to-day life.

 

News Credits: futurism.com

Image Credits: OWLbtc.com

Tags: bitcoin in Texas, bitcoin Texas, bitcoin news

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Ethereum Hits $1,000  For The First Time – Jumps Closer To $100 Billion Market Cap

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Ethereum hit another milestone on Thursday after its price went above $1,000, the highest it has ever gone in the history of world’s third largest cryptocurrency.

Just four days into the new year and January has already been a remarkable month for the crypto market. During this brief period, the combined value of altcoin market tops has swelled by more than $140 billion, and altcoins now represent more than two-third of the crypto market cap. Recently, Ripple became the first altcoin to accomplish a $100 billion market cap, and Ethereum now seems ready to add its name to this prestigious list.

Like most digital forms of money, Ethereum has been on an extended rally since the start of December, when it was estimated at $428. Through the span of the month, the Ethereum value ascended by 76 percent and it finished the year at $752.

Despite dropping behind Ripple in its race to capturing the second spot for the most valuable crypto, Ethereum expanded its rally into 2018, getting through both $800 and $900 earlier in the week. This Thursday, Ethereum cost accomplished a notable high, ripping past the $1,000 for the first time in its history.

Ethereum now has a market cap of $98.1 billion, bringing it a yard closer to becoming the third digital money to accomplish a $100 billion market cap.

Despite the fact that Ethereum has yet to hit $1,000 on most Western exchanges, South Korean merchants have taken the cost of ether up to $1,322, enabling its worldwide average to stretch out into the four-digit region. Currently, a majority of ETH exchanging is focused on Binance, which represents more than 20 percent of daily ETH volume.

Traders Are Optimistic About Casper Alpha Release:

Despite the fact that Ethereum’s walk past $1,000 happened against the backdrop of a more extensive altcoin surge, at least a part of its development is likely due to the declaration that the Casper consensus algorithm had entered alpha testing, finish with a public Testnet, preparing for the system to change from evidence of-work (PoW) to verification of-stake (PoS).

Though Casper is a long way from production release, the way that it has entered alpha testing is bullish at the Ethereum cost. Ethereum’s engineers trust Casper will convey a large group of benefits to the Ethereum network, not the slightest of which is the ability to significantly decrease its inflation rate.

This will be conceivable on the grounds that PoS requires far less power than PoW, boosting system members to approve exchanges for lower rewards than the current ones distributed to miners.

The reduced inflation will make singular cash units more significant and, after some time, conceivably enable the system to achieve a deflationary state in which fewer coins enter the course than those lost or destroyed.

 

Story credit: ccn.com

Image: Google images

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Is Investing in Bitcoin a Good Option or a Bad Option?

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Is Investing in Bitcoin a Good Option

Over the past few months, Bitcoin investment has seen a steady rise in its value. At the time of writing, one bitcoin is worth $1157.27 USD. This incredible value appreciation has grabbed the attention of many people. Also, with the media and government paying attention to the virtual currencies, the number of people looking to start their Bitcoin venture has gone off the charts.

Another reason as to why digital currency is gaining so much popularity is its worldwide acceptance as a form of payment at retails, corporations and large business organizations.

Moreover, it has made transactions quicker, safer and cheap as compared to the transactions involving fiat currency.

With all this being said, one question pops up into the mind: “should you make Bitcoin investment or not?”

The goal of this article is to provide you detailed insight on this question. So, let’s get started.

Should You Invest in Bitcoin or Not?

How to invest in Bitcoin?

Before asking “should you invest in Bitcoin or not?” you would need to know that there are two different ways through which you can invest in Bitcoin:

  • Buying Bitcoin and holding on until the value appreciates
  • Mining

The first one is quite simple. You go to a Bitcoin exchange, buy bitcoins and hope for the value to go high.

Mining, on the other hand, is a little tricky because when a transaction takes place, it goes straight to get verified by miners over the network. The verification process involves some complex algorithms. However, once the transaction is verified, the miners receive freshly mined BTC as a reward.

One of the biggest risks involved in Bitcoin mining is that the currency has no inherent value, is relatively new and has a price which is highly volatile.

Despite the risk, plenty of private companies and organizations are investing a colossal amount of money in BTC. Moreover, the currency is being accepted as a form of payment throughout the world, which indicates that it’s only going to increase in usage and the likelihood of it dropping back to zero is extremely low.

Another risk involved in Bitcoin mining is the difficulty. In earlier days, the difficulty level was not so high and people could easily mine new blocks through their PCs and regular laptops.

However, the difficulty has now gone to the next level with more people joining mining pools.

Since the max that bitcoins will ever reach is 21 million, the closer you get to the number, the harder it becomes to mine the coins, hence the lesser rewards.

If a miner wants to make money through Bitcoin mining, he must invest big in high-tech mining equipment. Even then, profits are not guaranteed.

Apart from these two, there is a safe third option. If you can create some complex algorithms/graphic cards through some cheap equipment, then you can expect higher profits. However, a large majority of people don’t have the sufficient skill set to succeed through this option.

So, What’s the Advice?

Keep yourself updated with the market trends, browse through Bitcoin forums and do some research regarding costs before taking a dive into the BTC world. Following these rules would increase your chances of success by over 100%. Good luck with your venture.

Tags: BTC investment sites.

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Top 10 Bitcoin Facts

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Talking about the modern and its modernized developed ways, the hottest talk of the town has been bitcoin for quite some time now.

Bitcoin Basics

The cryptocurrency was developed by the pseudonym, Satoshi Nakamoto. This decentralized and decartelized digital currency is free from the regulatory control of security institutions and government controls. There are no third parties involved. The value is completely and solely set by the supply and demand of the market. The underlying algorithms generate mines, which are worked out to obtain Bitcoins as a reward. It is a digital alternative to paper money working on the peer-to-peer basis.

Buying things with Bitcoin

After the first introduction of Bitcoin to date, there has been a gradual and cautious increase in its acceptance and endurance. But the people are taking the currency with a bigger heart. By the passing time and its ability to prove itself, more and more commodities are coming at front accepting the Bitcoins. Included in these names are a few hi-fi names. These include Virgin Galactic, Lamborghini and not forgetting Mel B.

The Numbers

Bitcoin mining is an algorithmic computer-based process which verifies and secure the Bitcoin transaction. The Bitcoins are mined by solving complexed mathematical problems. The process is called mining as these Coins are to be extracted from the system for usage. A collective group of the transaction is called a blockchain. They are known as chains as they are secured and built on top of each other by the miners, forming a chain. These blockchains confirm the transaction in the whole network when it has taken place. When a miner solves the puzzles, they are rewarded with a small number of bitcoins. That’s how new coins are introduced in the system.

The Value

With its extremely volatile and unpredictable nature, Bitcoins prices go back and forth in monetary values. These values are decentralized and depend entirely on the users and coin holders. How they respond to these in a span of time will determine their value during that time. There has been an unpredictable rise of up to $1000 and dropping it down to $2 even.

Bitcoins and Bankruptcy

Following the term ‘speculate to accumulate’, there are numerous speculators supporting the cryptocurrency. This digital currency is equally very risky to handle when not dealt carefully and with precautions. In 2014, Mt. Gox had to face serious issues mishandling or possibly theft against these coins worth $450 million. They were forced to file for bankruptcy protection keeping in view the intensity and strength of the damage.

Banning the Bitcoins

With its ability to be decentralized, it has been a concern for the security and political institutions. Challenging their authority and regulations different countries are responding differently regarding its engagement. Being the first in line, Thailand completely banned the currency usage by July 2013. Later the ruling and practice were relaxed keeping in view the devoted interest and attention of the people. China and Japan comparatively have some what proved to be biggest supporters of the currency, followed by the U.S.

Know your Limits

The process of mining is through which coins are awarded and are being introduced in the system. But there is a restricted number of bitcoins to be available ever. There are only 21 million Bitcoins that may exist ever. The production rate by mining is 12.5 today. This production rate is halved every four years to regulate to ensure the sustainability of the value of every Coin. By around 2140, all of these Bitcoins are expected to be mined. Meanwhile, the miners will be awarded by transaction fees for their efforts. On an estimate, 64% of the total mined coins sit uncirculated with the holders, with the optimistic hopes of greater profits.

Wikileaks

One of the most controversial organization, WikiLeaks has shown great dependence on these Bitcoins and other cryptocurrencies lately. Due to the unfavorable response from the other third parties, they started the usage of these secure decentralized futuristic form money for the donation.

SilkRoad

SilkRoad was the very first of its kind platform for the black market. A number of illegal and unauthorized practices were done using Bitcoin. A lot of people were attracted to use this site heavily was due to its anonymity. When the founder Ross William, aka Dread Pirate Roberts was arrested, his estimated was so massive that not all of it was possibly be accounted for.

Bitcoin Beginnings

In 2009, after Satoshi Nakamoto launched Bitcoins, he passed the majority of its control to the scientist Gavin Andreson. According to the scientist, the perfect words he has for Bitcoins is, ‘Better Gold than Gold’. Nakamoto is expected to be in possession of around 1million Bitcoins which means $1.1 billion. The identity of this is still a pseudonym. Other theories suggest that together the companies Samsung, Toshiba, Nakamichi, and Motorola are the founders of this cryptocurrency. but none of the theories has been proven to date.

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Why South Korea Is Considering to Legalize ICOs

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The Korea Times has recently reported that local financial authorities are planning to legalize ICO (Initial Coin Offering) soon. An anonymous source has told The Korean Times:

“The financial authorities have been talking to the country’s tax agency, justice ministry and other relevant government offices about a plan to allow ICOs in Korea when certain conditions are met”

initial coin offerings

What’s the reason behind ICOs legalization?

Few South Korean mainstream media outlets have revealed that “Kakao” is concentrating on assimilating cryptocurrencies for its 100 million users. Kakao is basically the largest internet firm of South Korea, and there’ve been many reports that it’s planning to integrate cryptocurrencies on its each and every application, which will let the users to utilize KakaoPay for both sending and receiving cryptocurrencies.

Kakao is also planning to conduct an ICO and issue its own token. However, it’s been also reported that due to the present regulations on local ICOs, Kakao is preparing to conduct its ICO outside of the country, South Korea. If ICO of Kakao is conducted somewhere else, it may lead to an extensive loss for the economy of South Korea, particularly in the Blockchain sector.

It’s expected that the government of South Korean is on its way to legalize ICOs in order to prevent the leading conglomerates of South Korea from leaving the country to conduct ICOs, as it might also have a bad impact on the cryptocurrency industry as well as local Blockchain sector.

Apprehension about ICO protection 

Financial Services Commission chairman, Choi Jong-Ku has recently shown his concerns to the local ICOs, mentioning that high risks are involved for investors inside the crypto-market.

However, even with the concern of investor’s protection by the FSC, there are still many sources inside the government that explain how local financial authorities are trying to allow local ICOs by enabling strict AML (Anti-Money Laundering), KYC (Know Your Customer), and taxation policy for investors.

 

Is South Korea and U.S. SEC on the same line?

The government of South Korea is willing to let companies conduct ICOs on condition that the token sales are registered with the government, which is on the other hand similar to the stance of the U.S. SEC Securities and Exchange Commission.

At this time, the South Korean government is on the same line with the U.S. SEC and is ready to allow only those ICOs that are registered with local financial authorities. Kang Young-soo (FSC cryptocurrency trading policies director) has confirmed that there are rumours about the legalization of ICOs, as he stated:

“There are many speculating about the possibility of allowing ICOs. The FSC has acknowledged a third-party view regarding the issue, but there’s nothing that we can say officially at the moment.”

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