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Best Ways to Own Bitcoins

Are you looking to own some bitcoins but don’t know where, and how to do it? Don’t worry. Here you will find everything that you are looking for regarding bitcoin-generation.

This 5-point guide will help you learn some killer ways to earn your own bitcoins and have something to brag about in front of your friends. So, let’s get started with knowing what are some way to earn bitcoins.

Get a Wallet:

First of all, get a wallet as this is where you are going to store the coins. Getting a Bitcoin wallet is pretty straight forward as there are several Internet-based wallet services, like Coinbase, Blockchain, etc. that provide digital wallets to their clients.

These two are considered to be most reliable and well-secured wallet services. However, neither can give 100% guarantee against security breaches.

There are also mobile apps of these wallets. But for now, only iOS users can download them on their devices.

Buy Bitcoins from Exchanges:

Bitcoin exchanges sell coins at current market rates. To purchase the coins, you are required to link your traditional bank account to the exchange account in order to transfer funds between the two accounts.

Coinbase is the most renowned and trusted exchange out there. The exchange doesn’t charge any fees for accepting payments made by others using your wallet. However, it does charge 1% to convert your bitcoins into local currency.

Buy It from A Nearby Trader or A Friend:

The number of people using Bitcoin is a lot more than you’d imagine. If you want to buy bitcoins, but going to an exchange is not an option, then ask around your friends or go to a nearby trader.

You can easily find them at LocalBitcoins.com by simply entering your nearest city. The service helps you find people trading bitcoins for USD and other major traditional currencies in your neck of the woods.

This technique requires you meeting with random people. People whom you never met before. So, make sure to have your meet ups at a public place to avoid any mishap.

Accept Bitcoin as A Form of Payment:

You can also pile up your stock by accepting bitcoins as a form of payment for the services you provide. All you have to do is inform your customers by simply chatting them up, via newsletter or putting up a signboard in front of your shop/office.

Bitcoin Mining:

Bitcoin mining is one of the primary ways to earn coins. To mine the coins, however, you will need to connect with a group of miners, have a powerful computer and internet access.

The miners work on solving mathematical algorithms in the form of groups. Those who solve them successfully are rewarded with bitcoins.

Conclusion:

These are some mainstream ways which can help you own large bitcoin assets. In conclusion, you can do it by getting in touch with friends, nearby traders, through online exchanges and via bitcoin mining. All the approaches are pretty simple and straightforward. You might find it difficult in the beginning but with a little guidance, it becomes as easy as ABC.

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How To Set Up A Bitcoin Miner – A Guide For Beginners

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How To Set Up A Bitcoin Miner

Bitcoin mining is done through a hardware called bitcoin miner. The hardware can be divided into three main categories, each more expensive and powerful than other.

Here, we have explained each category and described how to set up a Bitcoin miner.

While setting up a bitcoin miner, the first thing you will need to do is to choose the hardware, and there are two main things to particularly think about: hash rate and energy consumption.

Hash Rate:

Hash rate is the number of calculations per second performed by the miner to crack the mathematical problems in Bitcoin mining setup.

They are measured in Megahashes (MH/sec), Gigahashes(GH/sec), and Terahashes (TH/sec) per second.

The higher your hash rate, the easier it is to solve a transaction block.

Energy Consumption:

Mining equipment is unfathomably powerful and chews up a gigantic amount of electricity, which, ultimately results in higher costs.

While searching for the equipment, make sure its energy consumption is in watts. You need to ensure that you don’t wind up spending the majority of your cash on electricity bills to mine coins that won’t be worth what you paid.

In case you need to work out how many hashes you are getting for each watt of electricity, divide the hash tally by the number of watts consumed.

For instance, a device with 500 GH/sec that takes 400 watts of electricity, then you’re getting 1.25 GH/sec per watt.

You can also use several online electricity price calculators to figure out the value in traditional currency.

Types of Mining Hardware:

Bitcoin Mining pc comes in three major categories, GPU/CPU, FPGA, and ASIC.

GPU/CPU:

The least powerful consuming machine to mine Bitcoin is your very own regular PC. Theoretically, you can use a regular PC for mining purpose, but its processing is so slow, there is no point in using it.

To enhance the processing power i.e. hash rate, add a graphics hardware to your PC. The hardware features graphical processing units (GPUs).

GPUs are intended for overwhelming mathematical lifting which is utilized as a part of computing all the complex polygons required in the top of the line computer games.

This ability makes them great at the SHA hashing mathematics which is essential for solving transaction blocks.

FPGA Mining:

FPGA (Field Programmable Gate Array) empowers a mining equipment producer to purchase the chips in volume, and afterward customize them for Bitcoin mining before placing them into their own particular gear.

Due to the fact that they are customized for mining, they offer enhanced performance as compared to CPUs and GPUs.

ASIC Bitcoin Miners:

Application Specific Integrated Circuit (ASIC) is where all the action takes place. ASICs are particularly manufactured perform only one task: mine bitcoins at mind-squashing speeds, with lower power consumption.

Because ASICs are designed specifically for high-speed mining, they are expensive and time-consuming to produce. However, the speeds are unbelievably fast.

The current units can reach the hash rates between 5-500 Gigahashes/sec, and the future units are promised to go even higher.

All Set? Join a Pool:

When you have Bitcoin mining set up, your next stride is to join a mining pool. Bitcoin miners put their assets and share their hashing power in these pools. Once the mining completes, the individuals from a pool get a reward which is then split among all the members, based on the number of hashes shared by an individual.

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Prevent your bitcoin account from hackers  

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 Prevent your bitcoin account from hackers

Sometimes you have to face different issues with your funds. They may be snatched or hacked by someone. Whereas, bitcoin is a digital currency and addresses may be hacked by someone. To prevent from hacker, bitcoin must be kept behind multiple layers of security. In this article, we will discuss the ideas, how you can prevent your accounts as well as your addresses.

The most important feature of the bitcoin is transactions aren’t reversible. This means that once you do transactions either receive or send coins, they don’t have revers back feature. But, if your bitcoin account gets hacked then also you are not able to get back them.

Make sure first while you are dealing with someone via bitcoin technology. That person should be reliable and well-reputed. These precautions are necessary, but this is incomplete security.

To secure your accounts some basic personal checks, which may reduce the chances of your account being hacked or compromised. They are;

  1. Secure your email account
  2. Secure your technology related social media accounts
  3. For all the online accounts, use unique and strong password
  4. Enabling two-factor authentication

The Main Issue:

Someone breaks into an unlocked house and take precious diamond jewelry away. This is not jeweler’s fault. You were not able to keep your things secure from a robber. Same with the email accounts. People says that their accounts got hacked. The reason is they don’t completely put security to their accounts.

If a hacker has access to your email account, he will see the history of websites you log in. In addition, will visit the sites one by one and ask to reset the new password. Once the password gets restart, you will easily cut off from your account.

Secure Your Email Accounts:

Following are some terms by which you can secure your account.

  • use the strong and unique password
  • keep eye on login activity
  • review and remove email auto forwarder
  • the review linked accounts
  • 2-factor authentication

Use Strong And Unique Password:

Now, its technology era and you have to follow its rules and regulations. When you make an account on social media you have to use unique and strong password consisting of letters, words or capitals. In addition, especially in a case of bitcoin. You have to make sure that your password is strong, tricky and unique.

Keep Eye On Login Activity:

well-reputed email provider websites allow you to see which locations and devices recently accessed your email account. If your email account is open on both laptop and mobile, sites will show you double login sessions. And, you don’t recognize your login session, immediately sign out of all other sessions.

Review And Remove Email Auto Forwarder:

Most of the email sites provide a feature where email can be forward to different addresses automatically. If you monthly received the invoice from telephone company then your spouse or housemate will receive the copy of the same email. Which is more secure for your email accounts.

Prevent your bitcoin account from hackers

Here, the issue is, if the hacker got access to your accounts in past. Possibly they have auto-forward setup. Accordingly, the one for sensitive emails to be forwarded to them. These saved emails can be used against you.

Review Linked Accounts:

Review links accounts may be used for good and bad both purposes. We humans like new changes in our routine life. The problem is when we don’t want to log-in and after switching to new one, emails still send to the old addresses.

In that sense, you simply link to two accounts. And, you also have the accesses to both accounts, you can log into the new one, link the old one and all emails sent to the old account will still arrive in your new account. You can send email from a new account by using the other addresses. while you are doing small business it is useful for you. Where you can receive, and send the email to the same inbox. But, the problem is still the same. If your account gets hacked and hacker receives and send the emails same as you. In that scenario, you don’t have another option. So, keep your accounts secure by adopting different ways of security.

2-Factor Authentication:

Two factors authentication needs two things to get access to your email account.

  • your password
  • your mobile phone

If two-factor authentications are enabled, no one can get access to your email account.

Secure Your Technology Related Social Media Accounts:

People are friendly with the social media they do the same with email accounts. They won’t need a new password or new email account.

 

 

Social Media Accounts

For all the online accounts, use unique and strong password

your password should be strong and unique. The reason behind is,

Why Should Password Be Strong And Unique?

we already discuss that password of your accounts should be strong. It is simple, that your login different accounts with same and simple password. You are leaving your account open to hacking.

Especially, when you are treating with bitcoin wallet addresses. you need more security for your funds. Hundreds of time we log in with hundreds of the sites. Which may have an option of encrypting. So, it’s totally up to you to choose a suitable and reliable site for your transactions.

It very simple for the hackers to hack bitcoin wallet. So, use password management tool for a strong and unique password. It will help you surely.

Enabling Two-Factor Authentication:

Prevent your bitcoin account from hackers

One of the best and free ways to secure your accounts is two-factor authentication with the time period of two minutes only. 2F-authentication create an extra layer to any account by requiring two things. Are, • something you know which is your password. And,

  • something you have is your device

Now, many sites support two-factor authentications including google, Luno, and Facebook etc. It is possible that you already receive a message with the one-time pin for certain transactions from your bank or credit card provider. These are the type of 2F authentication.

How To Enable 2FA?

  1. Download and install 2FA app:    

You need to install well reputed and reliable 2FA app on your device. Like, freeOTP, authy, google authenticator, And, set it up on supported sites.

  1. Set up 2FA on your online account:

There is a large number of sites who support 2FA authentication. For setting up, please contact the supporting sites. For example, I am giving you the example of Luno. Below is some instruction for Luno,

 

 

Prevent your bitcoin account from hackers

You have to,

  • Add a new account
  • Scan QR code as shown by site
  • Save that account

Luno will send you six-digit code,

Prevent your bitcoin account from hackers

  • Store this code and store it in safe place
  • Type it into your 2FA app
  • Click enable

Above code changes in every 20-30 seconds. Your device and Luno now connected. As a result, if someone wants to get access your account, he/she have to get Luno password first.

Closing:

There are too many ways to secure your bitcoin account from hacking. In the end, a decision is yours.

Good luck!

 

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Is 2018 ‘The Year Of Crashes’ For Bitcoin?

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2017 was a year for bitcoin like no other. The advanced cash not just recorded remarkable gains, it single-handedly introduced new asset class that is turning into the primary alternative to fiat in the modern era.

bitcoin-crash-2018

For all the euphoria of the previous year, the way ahead won’t be simple, strategists warn. With bitcoin costs achieving unfathomable levels, the dread of missing out is too strong to resist.

That was one of the key messages Wall Street expert and originator of DataTrek Nick Colas passed on a week ago when he contended that bitcoin would see wild fluctuations throughout the next year. In his estimation, bitcoin can possibly trade between $6,500 and $22,000 through the span of 2018. During the process, investors can expect a few “crashes” of around 40%.

“Main concern: Bitcoin can rally to $22,000 and still be sensibly priced, or plunge to $6,500 and still be accurately esteemed,” he told CNBC. “We expect to see bitcoin exchange at the two costs in 2018.”

Major Themes For 2018:

A few noteworthy subjects will impact bitcoin’s value direction this year, biggest among them being the regulatory scene representing cryptographic money. South Korea – seemingly a standout amongst the ideal locales for exchanging digital money – is actualizing new regulations aimed at curtailing speculation. The technique incorporates banning individuals from opening new crypto accounts and from trading secretly. Top policymakers in the country have additionally said they are not opposed to closing down crypto trades should the new regulations fail to deflect speculation.

Advancing regulations and vulnerability about the future have set extensive strain on the crypto market. In September, China issued a sweeping prohibition on crypto trades and ICOs, setting off a massive correction. Different countries are still feeling their way through the asset class, with the likes Kazakhstan and Russia calling for state-upheld digital forms of money.

In addition to control, the verbal confrontation over blockchain adaptability will keep on influencing financial investor sentiment. Contradiction over bitcoin’s current convention has prompted numerous coin splits, including the now popular bitcoin cash fork. A couple months later, bitcoin gold would likewise develop following disagreements over the mining procedure.

To sum it up, debates over bitcoin’s future are normally ideological as much as they are esteem based. The general view on Wall Street is that the advanced asset class, all in all, is essentially exaggerated, with many contending that bitcoin has no natural esteem and in this manner can’t be assessed. However others, similar to Tyler and Cameron Winklevoss and John McAfee, trust bitcoin can still grow many factors above its present level.

Story credit: ccn.com

Image: Google images

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Goldman Sachs – “Most Cryptocurrencies Will End Up Hitting Zero”

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According to Goldman Sachs, the cryptocurrency markets will not recover from their present correction. On 5th February, Steve Strongin (Goldman Sachs head of investment research) said, the high correlation between several cryptocurrencies makes him really anxious. Some currencies that do not survive are expected to trade to zero due to the lack of intrinsic value.

Strongin is worried about the possibility that maybe one or a few of the existing cryptocurrencies could ascend from the speculative bubbles, just like the crypto equivalents of Google or Amazon. However, he said that he doesn’t think that most of the coins will ever recuperate to their all-time highs.

There have been many questions arising like, is there any cryptocurrency that’ll be like Google or Amazon? Or are they going to end up just like the other now-defunct search engines? Strongin said that this doesn’t mean that the prices of cryptocurrency cannot increase at all because they are in a speculative bubble at this time. But at the same time he said, that most of the cryptocurrencies might bounce back to their all-time highs, but some of them are never going see their current peaks ever again.

most cryptocurrencies will end up hitting zero

This clearly shows that the speculative bubble is coming to its end and rather than as a collective asset class, investors are going to start judging the cryptocurrencies from their individual merits as a lot of casual retail investors are already familiar with it. It also seems like the ICO (initial coin offering) success will suddenly come to its end.

Strongin said that the winners-take-most sight of the market is not very unique to Goldman Sachs. On Wednesday, the founder of DCG (Digital Currency Group) Barry Silbert, offered the same remarks at “Yahoo Finance All Markets Summit: Crypto” with explicably more positive stance on the entire industry.

According to Silbert, a huge majority of crypto-assets are facing a binary outcome. They are either going to become extremely valuable or they are going to become worthless. He added, this is why Grayscale Investments (a DCG portfolio company) launched its newest product, a fund related to crypto-asset investment and it holds the market cap (weighted positions) in the most major five cryptocurrencies and balances it again quarterly to imitate market movements.

Many other experts have also warned the investors on cryptocurrencies. Nouriel Roubini, who’s a well- known economist said on Tuesday, that the price of bitcoin would also crash to zero. Warren Buffett also said in a recent interview that cryptocurrencies are definitely going to have a bad ending.

 

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Crypto Market Cap Goes Over $500 Billion – Here’s A Look At The Top Coins

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As the combined market cap of cryptocurrencies has leaped above $600 billion, the price of bitcoin and Ethereum is still on the top.

Cryptocurrencies Now Worth Half a Trillion Dollars:

The cryptocurrency market has now reached $643 billion, and it seems that it will certainly reach $700 billion really quick, especially when the market cap of bitcoin has already reached $284 billion.

Bitcoin Price:

At the time of writing, bitcoin price is trading at $16,958.90 with the market cap of $284 billion. However, last week bitcoin price was $17,184 which is that the price of bitcoin can also decrease within days.

Ethereum Price:

At this time, Ethereum’s price is trading at $875 and its market cap is $83 billion. Last week, it had a market cap of $65.6 billion, which means it has significantly increased just within a week. Ethereum continues to see growing transaction volumes also, as it has increased 9% within the last 24 hours.

Ripple Headlines:

Bitcoin cash is the third largest cryptocurrency that rose by 3% within a day. But its closest competitor Ripple is growing increasingly larger as well. At present, Ripple has a market cap of $18 billion, which means that if ripple repeats this single day performance one more time, it will definitely replace bitcoin cash and will rise to third in the ranking.

At this time, litecoin price is trading at $336, which represents a single-day increase of 2%.

IOTA is on number 6th in the ranking with the price trading at $5.37 at this time, with the market cap of $14 billion.

Dash and monero are currently valued at $1,598 and $460. NEM is on number ninth in the ranking, with the price of only $1 whereas, bitcoin gold has risen about 1.93%, taking it to the number 10th in the ranking.

News credits: ccn.com

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