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Secure Your Bitcoin Wallet

If you are a Bitcoin user, you would know that how important a Bitcoin wallet is. It is used to store all your Bitcoin assets and make transactions with other users.

Due to its significance, hackers, con artists, and thieves are always after your wallet. They develop different techniques to get into your wallet and steal your coins.

Most bitcoin users nowadays lack the knowledge as to how to keep their wallets from these attacks. As a result, they end up losing their assets. And since there is no way to track these tricksters, once you lose your coins, consider them gone for good.

In this post, we are going to discuss the most useful ways to protect your wallet, and hence the coins.

Check out our guide on what are the safest Bitcoin wallets to use to be more secure.

Bitcoin Wallet Protection Tips:

  1. Never use it on a smartphone: Smartphones are prone to hacking and theft. They can easily be hacked through the apps we download or even the mobile camera. So, if you want to protect the bitcoin wallet, stop trading it through smartphones.
  1. Versatile Bitcoin client: It hides users’ IP address and changes their address with each transaction. It also hides your privacy in public protocols, making it less vulnerable to third-party attacks.
  1. Identity protection: Avoid giving away your information on social platforms and try to keep your wallet key only to yourself.
  1. Encryption: Since your wallet is stored on virtual sites, it’s necessary to protect it with a strong password. If you are struggling to create a strong password, DESlock+ can help you create it and encrypt your bitcoin wallets from theft.
  1. Backup Your Wallet: Keep backups of your wallet. The information stored in the wallet is what all your bitcoin transactions are based on. Losing it without having a backup would mean that the information is gone forever. (Learn how to backup a Bitcoin wallet)
  1. Escrow service: Bitcoin transactions are irreversible and involve interactions with untrusted parties. In situations like this “Bitcoin Escrow Service” comes in handy. What happens here is that the buyer sends bitcoins to the Escrow service and the seller sends the product across to the buyer. After receiving the product, the buyer gives green signal to the escrow agent that he can make payment to the seller. The escrow service is considered to be one of the safest and error proof methods of bitcoin transactions. (Here are some of the best Bitcoin escrow services you might want to use)
  1. Multi-signature addresses: This method is extremely useful, especially when multiple users are using the same wallet. Multi-signature addresses prevent the misuse of wallet by an anonymous user. It requires signatures of all users, which helps to inform the signers that a transaction is being made.

Conclusion:

These are some important tips to protect your wallet against cyber-attacks. In conclusion, don’t use it smartphones, don’t publicize your keys, use strong passwords, always have a backup, use escrow service and multi-signature system.

Remember, a Bitcoin wallet address is the most important aspect of your Bitcoin venture. Its security must be on top of your priority list. And to make sure it’s perfectly secured, follow the tips that are discussed in this article.

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ICO Regulation: Japanese Research Group Releases Guidelines

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According to a Bloomberg report, a list of strategies for the regulation of ICO (Initial Coin Offering) has been released by the a research group at Tama University, in Japan. The list also explains strategies to fully legalize the ICOs.

dubai ico

Guidelines for ICO Regulation

The list of guidelines includes regulations for:

  • Tracking project development
  • AML (Anti-Money Laundering)
  • Identifying investors
  • Protecting the debt holders and current detachment

The Financial Services Agency of Japan will be cautious on the proposal, as it could be ultimately made into the law just within few years’ time, Bloomberg reported.

The paper creates issuance rules, for example; defining and revealing methods following the development of white papers, and disclosing the possible impacts on debt holders, shareholders, and token investors. In addition to that, the paper specifies particular trading rules, including:

  • Verification of customer’s identity
  • Suitability (Know Your Customer)
  • The allowance of industry’s wide-minimum standards on the listing of tokens.
  • The restriction of biased trade practices such as insider trading.

Regulations will be Applied to Three Types of ICOs

While acknowledging that it is quite hard at this time to classify the whole legal ICO, as many are impending, the unidentified types might be still present. According to the paper, the rules will be applied to only three types of ICO:

  • A large company type for in-house.
  • A venture company type.
  • An ecosystem type of joint exertions with numerous firms or government entities.

In the report, ICOs are clearly identified as securities and have the same position as the US SEC (Securities and Exchange Commission).

According to a researcher, Kenji Marashima:

“ICOs are groundbreaking technology, so if we can implement good principles and rules, they have the potential to become a new way to raise funding.”

One mentor of the study group is Takuya Hirai. He is a member of the leading Liberal Democratic Party, as well as, one of the planners of a regulation legalizing crypto-exchanges in Japan. Other members of the group are:

  • Yuzo Kano, who is the head of bitFlyer Inc., which is the largest Bitcoin exchange in Japan.
  • Mitsubishi UFJ Mizuho Financial Group Inc.
  • Financial Group Inc.
  • Sumitomo Mitsui Financial Group Inc.

The publication of these ICO-friendly guidelines is set against the positions of South Korea and China, as last year, both of these countries banned ICOs.

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What is driving Bitcoin’s price up?

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What is driving Bitcoin’s price up?

Bitcoin’s price has been soaring sky high the past few months. It takes everyone by surprise how well the cryptocurrency has been doing.

On April 24th, Erik Voorhees had made a prediction of $300 billion market capitalization on Twitter: “Tokens as an asset class have surpassed $30 billion. I predict over $300 billion within 4 years.”

So, what could be the factors contributing to driving Bitcoin up to new heights?

Through estimates and statistics, it still shows that 85% of the Global Bitcoin trading comes from China. Remaining countries have had a lesser impact. Obviously, due to a large amount of data flowing in from all sides, it’s hard to keep track of the accuracy of everything.

Economists, market analysts and financial experts, like CFA Prableen Bajpaiare, report current fears in China and Asia that the yuan could deflate due to the increased investments in bitcoin.

Other analysts have agreed to this as well: “Signs indicate Bitcoin’s price has become linked to a number of macroeconomic factors in China,” said Vijay Michalik, a research analyst for digital transformation at consultancy Frost & Sullivan.

“It highlights growing concerns about yuan currency deflation, as bitcoin’s appeal has grown as an alternative asset class for a population deprived of many investment choices.”

“The most likely explanation appears to be linked to market confidence in the Asia region, with low confidence in local currencies providing a major boost to bitcoin demand,” said James Lynn, U.K. managing director at investment company Billon Group, in a 2016 CNBC interview.

There has also been a big devaluation of currencies in other emerging markets such as India and Russia. For example, the Indian Rupee had gone down by 20 percent in 2017 compared to the US Dollar.

Even if the USD is rising compared to other currencies, people around the world are still looking for alternatives to it and Bitcoin has seemed to won that competition.

Russia

In 2016, Russians were exchanging their depreciating rubles to bitcoins by a large number. Due to tumbling of the ruble, the Russian Ministry of Finance came up with statements regarding money laundering and the possibility of taxing and regulating Bitcoin as an asset. Deputy Finance Minister Alexey Moiseev told Bloomberg in an interview in April 2017. He also added that “The state needs to know who at every moment of time stands on both sides of the financial chain”.

Blockchain companies funding

Bitcoin start-ups that attracted large investments in Bitcoin and blockchain companies, with total funding of $550 million are now increasing the demand for bitcoin in 2017. This had a huge impact on the Bitcoin’s value, causing it to shoot up.

Back to China

Due to the deflation of the yuan currency, Bitcoin value has been very appealing to Monetary policies, Chinese companies, and rich individuals. Also, several big investors are being tempted by Bitcoin. They are all demanding for Bitcoin in China since it is much more stable right now.

Japan, important growth

Things have started to get very interesting in Japan as well. In the last 6 months, what happened to be just 0.91 percent of the total bitcoin trading volume has surprisingly risen to 6 percent in just 30 days. Based on unofficial estimates and data provided by coinmarketcap.com and data.bitcoinity.org. There has been a sudden increase in the demand of Bitcoin in Japan.

What is driving Bitcoin’s price up

Can anything wreck the path Bitcoin is on?

Anything, such as the increase in the price of gold would cause a drop in the value of bitcoin, but this won’t be happening anytime soon. Gold is down 4.58 percent in the last 30 days, which is in favor of Bitcoin.

Also, the altcoins have been grabbing a lot of attention the past few months, but they’re still risky and unstable investments. Whereas, Bitcoin is in a much better shape than most and will be reaching new heights in the near future.

Tags: Bitcoin’s driving price

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Riot Blockchain Making Plans To Launch Crypto Exchange In US

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Riot Blockchain is a former biotech company. It also has the honour to be the first mover on the NASDAQ. Riot has now its full focus on investments in cryptocurrency and blockchain startups with great success rate. It intends to gain exposure to the blockchain ecosystem with its targeted investments. For the time being Riot Blockchain has its core attention on the Bitcoin and Ethereum blockchains. It has also launched its own Bitcoin mining operation.

crypto exchange in US

Surprising Announcement by Riot Blockchain

At last Riot Blockchain has surprised the financial world by its sudden announcement according to which it may launch a crypto exchange in US. In a public filing Riot Blockchain stated that it just had intentions to investigate the launch of a digital currency exchange in the US. It also stated that this will also act as a futures brokerage firm.

Riot has also recently signed a letter of purchase for owning the Miami-based Logical Brokerage Corp that is registered with the Commodity Futures Trading Commission. It is also a member of the National Futures Association, and also acts as an industry trade group.

Reason Behind This Decision

When asked about the reason behind this decision, John O’Rourke, Chairman and CEO of Riot Blockchain stated that Riot took that step because it discovered a crucial market requirement of increasing options for digital currencies within the United States. He further stated that Logical Brokerage will help to provide a trustworthy platform to manage specific service in the relevant market.

Journey from Bioptix to Riot

In fact Riot was not a part of the crypto-business from the start. It was previously known as Bioptix. It has established its identity as a veterinary products patent, no doubt during that period it had developed new ways to test disease.

It was in September when Bioptix made an investment in a cryptocurrency exchange for the first time. Right after two months it purchased a company that had real life cryptocurrency mining equipment. After that the company name was changed from Bioptix to Riot Blockchain and it progressed continuously in the crypto-business. However, switch of business and change of and the company’s name were not the only questionable moves. Riot Blockchain was the first newly born firms to give rise to rumours due to its unexpected turns and swirls into the flourishing business of cryptocurrency and blockchain ecosystem. And all this happened during last year’s dramatic fourth-quarter rally.

However, according to some critics the fact cannot be ignored that Riot’s cryptocurrency exchange plans are at its best right now and it will be quiet unexpected to see them postponed in the future.

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ICOs – A Remarkable Figure Despite Challenges, but how?

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successful ICOs

2018 has been a very dramatic period for blockchain and cryptocurrencies from the start. The crypto world has seen a nonstop slump in the price of Bitcoin and other altcoins, as most of the tokens traded below their ICO price, still there’s been no relent in the amount of money that was raised during this time.

Even with the institutional and political struggles that the cryptocurrency ecosystem faced, specifically paying attention to ICOs (Initial Coin Offerings), this steady rising trend raises curiosity.

Quality of ICOs As A Whole

LKI Consulting is a PR firm that has conducted few ICOs especially, in the last couple of months. The founder of LKI Consulting, Laura Kornelija Inamedinova believes that this ICO trend is linked to the upsurge in the quality of ICOs as a whole. Furthermore, Inamedinova explained how time has shown that these features are essential in order to have a successful ICO.

Even though the ICO market has rocketed and noted remarkable facts, still there is a number of projects that haven’t accomplished in attaining there “set out” goal, that makes them unsuccessful.

Why ICOs attract investors from outside the industry?

Founder of Cashaa, Kumar Gaurav believes that the industry must look ahead of the crowdfunding exercise which has been carried out by many projects at this time in terms of ICO. Gaurav’s company dismissed around $14 million of the $33 million that was raised in an ICO due to acquiescence reasons.

Gaurav identified a problem that ICOs attract investors from outside the industry who only take interest in their own profit and not in the technology. Similarly, there are plenty of beginners who are really interested; however, they just started to learn and might be frightened of the market’s volatility.

Gaurav identified another trend, that is the salvaging of investments inside the ecosystem which appears to expand the industry beyond its actual capability. He noted that most of the investors just try to sell older tokens and buy new ones.

Complicated System

Apparently, most of the ICO investors are just speculators for the short-term and this is something that makes it a little bit difficult for project developers and builders in executing their objectives, efficiently. It’s quite common these days to categorize an ICO as successful, depending just on the amount it raised through the crowdfunding process. To avoid being seen as a failure, companies began to set lower goals deliberately. Gaurav further explained that to find out what successful ICO is, we may also need to have a look at what will happen to the company after a year.

 

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Bitcoin Market Cap Will Hit Trillions Over The Next Couple Of Years – Winklevoss Twins

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Tyler and Cameron Winklevoss, otherwise called the Winklevoss twins, expect the market valuation of bitcoin to surpass trillions of dollars in the upcoming years.

Main Story:

In an interview, Cameron Winklevoss clarified that the properties of bitcoin enable it to work as a premier store of significant worth that is in orders of magnitude greater than gold in various aspects, including divisibility, transportability, and monetary supply.

 

“We’ve generally felt that bitcoin, given its properties, is gold 2.0 — it upsets gold. Gold is scarce, bitcoin is really settled. Bitcoin is much more versatile and way more separable,” said Winklevoss.

 

He included that if bitcoin can keep on disrupting the $6 trillion gold market in the long haul, it will have the capacity to hit a trillion dollars in a moderately brief timeframe, given that the market valuation of bitcoin currently stays near $300 billion.

 

“Long-term, directionally, it is a multi-trillion-dollar resource — I don’t know how long will it take to get there,” said Winklevoss.

 

Bitcoin is quickly changing the global finance industry as a decentralized store of significant worth. If bitcoin market can maintain its development rate over the next couple of years, it will enter into the gold and offshore business industries. The joint market cap of gold and offshore business industry is up to almost $40 trillion.

 

Winklevoss noticed that fiat and different cryptographic forms of money are not the rivals of bitcoin. Instead, other safe haven resources and store of values, for example, gold are the genuine rivals of the digital currency. He explained:

 

“For the vast majority, it isn’t just the source of not paying taxes. It’s the target of getting the privilege to security and looking for financial secrecy,” said Marcovici.

 

Structurally and reasonably, bitcoin is an altogether better framework to store cash for people and institutional investors than offshore bank accounts, primarily because the legislatures can in any case crackdown on offshore ledgers. In 2016, the US government fined Swiss banks $1.3 billion, including more than 43,000 offshore ledgers holding $48 billion.

 

As a decentralized and distributed store of significant worth, governments can’t in any way, shape or form crackdown on bitcoin holders and records. Consequently, it furnishes speculators with security and budgetary privacy, which seaward ledgers were intended to give.

 

If bitcoin can represent even 10 percent of the worldwide offshore business industry, bitcoin’s market can surpass $3.2 trillion. In light of the settled supply of 21 million, a $3.2 trillion market cap esteems bitcoin at $152.380.

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