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Most people these days are completely aware of Bitcoin – a digital currency which has taken the digital market by storm over the last couple of years. However, a large portion of these people is not aware of the fact that there exists a large number of other cryptocurrencies as well. Ether, Ripple, Zcash, and Montero are few to name. The general terminology for these cryptos is ‘Altcoins’.

Each Altcoin is different in characteristics. Few of them differ in the economic model while others have different distribution methods. It depends on an Altcoin’s design whether it has to rely on proof-of-work mining algorithms or not. Moreover, a number of Altcoins offer an extra adaptable programing language, while others follow the same privacy terms as Bitcoin.

All Altcoins are not much interesting though. Some don’t even provide handsome offers to their users. For example, Altcoin is the combination of the total amount of coins, which clearly means that each coin has low worth. In this post, we will have a brief discussion about different aspects of Altcoin.

What is Altcoin Mining?

A process of mining new Altcoins. There are two types of Altcoin mining: single mining and pool mining. Single mining may not give you expected rewards and is way slower than pool mining. On the other hand, pool mining has a large number of participants sharing their mining equipment’s hash power which ultimately makes the process quick and simple. Besides, the rewards in pool mining are much higher than those of single mining. Following are few steps that will help you start mining Altcoin.

How To Start Altcoin Mining?

To start Altcon mining, you will need:

Acquiring an Address:

Before starting mining, you need to register with the well-reputed platform and have a digital address. You give this address to pool inform them where to pay your rewards. The mining pool provider will sync the blockchain for you.

Funding:

Start funding to your account and create your public key.

Connecting to the pool:

Once you have an address, you will need to install a mining software and connect to the mining pool. After joining the pool, you can start mining.

Once you have an address, you will need to install a mining software and connect to the mining pool. After joining the pool, you can start mining.

What is Staking Pool?

It is a proof of stake mining pool. BTC and other altcoins are used to purchase Altcoin. Later, these altcoins are held in their individual wallets. In addition, each wallet will contain the staked altcoins. The number of the altcoins holding in your wallets completely depends on the price and percentage of the Altcoin.

What Is The Process Of Staking Pool?

Deposit your POS coins into an electronic wallet, so that it can easily connect with the other altcoins available on the internet. Basically, this is the result of connected wallets. Transactions get verified and confirmed which enables the receipt of the reward.

Altcoin Mining

What Are Best Altcoins?

Based on the market cap, following is the rundown of top altcoins:

  1. Ethereum: $19,567,960,363
  2. Ripple: $6,485,335,767
  3. Dash: $1,294,582,036
  4. Nem: $1,174,185,000
  5. Ethereum classic: $1,409,231,346
  6. Litecoin: $2,167,228,375
  7. Monero: $539,679,521
  8. Zcash: $335,018,425

What Are Best Altcoin Trading Platforms?

Few exchanges help you to deal with your altcoins on daily biases. The list of top altcoin exchanges includes:

  • Local Bitcoins
  • net
  • Kraken
  • Bitfinex
  • Bittrex
  • Poloniex
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Japan removed Tax on Bitcoin, Rise Expected in Trading:

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The tax reforming bill of Japan has officially removed consumption tax on the sale of Bitcoin.  Bitcoin trading events expected to increase in JAPAN after the activation of the bill. In a report entitled “Inbound Tax Alert, 2017 Tax Reform Proposals”.

Deloitte earlier has revealed that digital currencies, as well as Bitcoin, set to release from the eight percent consumption tax in Japan.

Deloitte’s report says:

The supply of digital currency will release from Japanese Consumption Tax (“JCT”). At this time, digital currencies like Bitcoin don’t fall under the category of released sales, and as result, the sale of digital currencies in Japan have judged as taxable for JCT purposes. Resulting the performance of the amended Fund Payment Law in May 2016, that a defined “digital currency” as a means of payment, the sale of digital currency as well-defined under the new Fund Payment Law will release from JCT.

Bitcoin Market of Japan:

On 27th of March, the National diet of Japanese officially accepted the tax reform proposal 2017 shared by Deloitte. It passes the Bitcoin consumption tax along with other bills recorded on the proposed reforms. The bill, that came into activation on 1st July. It expected to considerably increase Bitcoin and other digital currencies trading events within the Japanese digital exchange market.

On 1st April, the government of Japan officially approved Bitcoin as a legal currency and payment method. Since that day, the government of Japan has been focusing on establishing and creating a more effective ecosystem for Bitcoin traders, users, and Businesses.

The Bitcoin exchange market of Japan is already well equipped and well-regulated. It has an efficient Anti-Money Laundering (AML) and Knows Your Customer(KYC). AML systems are especially strict in Japan.

The increase in Bitcoin Price:

Although, it may be fully coincidental, meanwhile the start of Bitcoin tax elimination bill in Japan on 1st July, the price of Bitcoin increased from about $2450 to $2570. It is not a complete assessment to the Bitcoin’s upward momentum to the market of Japan. It accounts only for 16.2 of the Global Bitcoin exchange market.

However, a good sign for trading Bitcoin in Japan could have established a constructive example across Asia. It controls utmost 65% of the global Bitcoin exchange market share and it also affected Bitcoin price.

Soon, hundreds of thousands of cafes, restaurants, stores could start to accept Bitcoin as AirRegi. AirRegi is the largest point of sale machine operator in Japan and it is looking to enhance Bitcoin by the fall of 2017.

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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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Investors Are Worried After a Sudden Drop in Bitcoin Price

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After a series of ups and downs, bitcoin’s price went to its top. However, it plunged to less than half of that value later. The unexpected changes are now compared to the dot-com bubble and are highlighting the speculative nature of investing in cryptocurrency. Investors are worried due to bitcoin investment

The price of bitcoin fell below $10,000 for the first, on December 1. At one point, it fell below $9,300 on one exchange. The price later rose back to almost $12,000, however, the investors and economists are still not sure how long the price will stay there. It is also said that the recent skim was due to the fear of crackdowns in the cryptocurrency markets.

South Korea has suggested a ban on the trading of cryptocurrency, although no plans are settled yet. Also, same news has been reported about China.

Bitcoin is a decentralized digital currency, as it is the largest and well-popular digital currency, that is globally bought and sold in exchanges.

According to Timothy Lee (senior reporter at Ars Technica), it is not based on dollars. The value of bitcoin floats against other cryptocurrencies, in the same way the euro and dollar glide against each other. Users say that bitcoin has got a very effective system for authenticating transactions, as it is based on a revolutionary technology.

Bitcoin users also point out that the currency is not tied to government’s whims anBitcoin Investmentd according to them, it’s a good thing. Recently the price dropped, and that may not be a good thing for those investors who are trying to figure out what crash actually means for the cryptocurrency’s future.

Recently many cryptocurrencies have shown the same swipes. According to David Kotok (Cumberland Advisors chairman and chief investment officer), almost 20 years ago, the technology and the new internet stocks accomplished valuation of $7 trillion, just because of speculation. The prices of shares used to be very high and after they collapsed, investors got badly miffed. And apparently, the same thing is going to happen with these cryptocurrencies.

Same rise and fall in the price of bitcoin was seen by the investors in December.  After China announced that it was banning all the banks that were trading cryptocurrencies, bitcoin fell by 40 percent just within days after hitting a record price of almost $1,150.

There’ve been dramatic ups and downs in cryptocurrency’s price last year. Bitcoin had the value around $900 at the beginning of 2017, however, its value got tripled within few months. According to Kotok, cryptocurrencies are highly speculative and investing money in cryptocurrencies is a speculative thing to do.  There’s a chance that you may make a profit, but Kotok has seen many people who invested their money into bitcoin and now they’re having loads of trouble in getting their cash back when they try to sell it.

According to some analysts, the cryptocurrency is trying to find an impermanent price floor, but according to a CNBC report, Citigroup analysts think that the price of bitcoin would plunge again to half of its current value. According to Ars Technica’s Lee, it’s still going to be unpredictable. She thinks it’ll go more up and then it’ll crash again. So, no one knows how far down it’ll decline.

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Crypto Fraud Cases: CFTC Is Stepping Up Against Market Manipulation

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Commodity Futures Trading Commission is making a quick move to declare its jurisdiction to police scam in the cryptocurrency trading. Jack B. Weinstein, a Judge of the Eastern District of New York, favoured the CFTC and affirmed its definition of cryptocurrency as a commodity. A notice of supplemental-legal-authority was given to My Big Coin Pay Inc, which is a crypto-services company that got charged with deception and misuse of funds in January.

cryptocurrency trading

This ruling was basically the outcome of a distinct crypto fraud case that CFTC is pursuing against a crypto-trading-scheme known as CabbageTech. Mentioning from that ruling, the notice directs My Big Coin Pay that;

Virtual currencies ‘fall well-within…the [Commodity Exchange Act’s] definition of commodities and the Commission has the standing to exercise its enforcement power over fraud related to virtual currencies sold in interstate commerce.”

The SEC (Securities and Exchange Commission), the IRS, and the CFTC, all have a different meaning of cryptocurrencies at this time and have selected them as securities, property, and commodities individually.

Now for My Big Coin Pay, the Commission asserts that the stable and related parties; Randall Crater and Mark Gillespie embezzled over $6 million from their clients, as well as by transferring funds of customers into their private accounts and later, spending their funds on purchasing their luxury goods and personal stuff.

cryptocurrency tradding

Many novel cases have been also filed by the CFTF in the past months, which includes three linked to virtual-currency fraud. These cases were the first ones that were brought to the commission since it allowed the launch of bitcoin commodities contracts, the past month. The notice also revealed how CFTC is working hard to establish legitimate precedent and potentially provides a vision of how it will endure regulating the industry.

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A Guide on Accepting Bitcoin Donations Through Your Blog/Website

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Accepting Bitcoin Donations

Bitcoin is a relatively new digital currency which is used in making online transactions between two individuals. The currency is considered to be the most efficient and safest form of online payments. (Learn how to pay with Bitcoin online)

Bitcoin can be used as a method of payment on several platforms but is most popular on the gambling websites.

Bitcoin functions not only in the form of payments but you can also make earnings through Bitcoin donations if you run a website/blog.

Nonetheless, when it comes Bitcoin donations, the most frequently asked question is: “How to accept Bitcoin donations” because accepting Bitcoin website donations is becoming more troublesome as the number of individuals shifting to online payment methods keeps on growing each day.

How to Accept Bitcoin Donations?

You can accept Bitcoin donations in the form of your local currency, such as USD, Euro, etc. The donations are similar to those of fiat currency. The only difference is that Bitcoin only exists virtually, while the traditional currency can be directly sent to your bank account or handed to you in person.

Currently, there are only 12 million bitcoins in circulation, most of which are held by the businessmen.

Also, there are plenty of efficient tools that convert traditional payments into Bitcoin. For this, all you require is a Bitcoin extension.

What Are the Methods in Which You Can Accept Bitcoin?

Normally, there are three ways to accept Bitcoin donations. The methods are discussed below briefly.

  1. You can make/accept variable amounts of donations using an image link. The link supports a specific donation and a Bitcoin blog link. Then you will need to place a Bitcoin QR code on your website which will allow users to make donations using their smartphones. To ensure a Bitcoin donation, you must maintain a secure environment.
  1. An alternate option to accept Bitcoin donations on your site is a donation counter. The counter helps your visitors how many donations you have received so far as part of the campaign. The counter can also be used to indicate a time frame and a standard amount of the donations a user might wish to place.
  1. Another way to accept Bitcoin donations is to add payment buttons on your site. A visitor who clicks on the payment button is taken to an interface which can be controlled until the bitcoin payment is received.

Last Word:

Bitcoin donations must take place under a safe environment, so make sure your site is safe while trying to make a Bitcoin transaction. The standard website security requires you to have complete control over all the transactions made through the website.

Bitcoin addresses are vulnerable to security threats. Lack of security could result in a donation being directed to an unwanted party.

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