Connect with us

Blockchain

How to protect cryptocurrency

Published

on


How to protect cryptocurrency?

The word cryptocurrency came from two words cryptography and currency.

Currency: Currencies can be defined as some sort of economic buffer that someone earns in exchange for their service or goods provided. They can again later use these to get the service or products of their desire.

Cryptography: Cryptography, on the other hand, concerned with the protection of data provided to it by converting the ordinary texts into unintelligible text. And if needed to be reaccessed they can be converted back into plain texts. Modern cryptography deals with integrity which means information cannot be altered, the confidentiality that stands for information cannot be understood by anyone and authentication which sums up into the fact that the sender and receiver can confirm each other.

So now if we try to get the above definition mixed and try to understand cryptocurrency.

Cryptocurrency: Cryptocurrency stands as a medium of exchange value that prevails in the digital world and depends on encryption, which makes transactions secure. Cryptocurrency is a substitute for payment through cash, credit cards, and checks. The technology behind it lets you send it straight to others without going over the 3rd party like a bank. You don’t have to apply your social security or credit score as collateral. It is allowing you to be moderately pseudonymous.
In simpler words, cryptocurrencies are like virtual accounting systems. They keep a history of all transactions. The transactions are grouped into blocks, which are cryptographically signed from where it got the name “cryptocurrency,” and the client doing the signing receives some number of units of virtual currency as remuneration for doing the work of calculating the cryptographic signature.

Today we will be discussing some tricks to better protect your cryptocurrency from getting lost or being stolen. Every week there appears to be a new doomsday prophecy for bitcoin and the cryptocurrency market. I can’t safeguard your money from a crashing market, but I can assist you with some pretty straightforward, but often overlooked advice to protect your investments from theft and accidental destruction. I like focusing on the things that I can control, and one of those things is portfolio security. This article is not about buying or selling advice. These are some simple advice to keep you from having your funds stolen or lost.

ALWAYS SET UP 2 FACTOR AUTHENTICATION: Two-factor authentication is the best possible way to fight with hackers. When 2FA is established, no one can reach your accounts without submitting a 6-digit key. These codes are always changing each time you need them. So, it becomes almost impossible for someone to assume them and get access.

NEVER STORE COINS ON EXCHANGES LONG TERM: If an exchange is hacked, you can lose all the money, and no one can give you the guarantee if any exchanges can compensate their members for the lost coins in reality. So, my suggestion is that use a safe cryptocurrency wallet that is available right now.

AVOID SHARING INFORMATION ABOUT WHERE YOUR COINS ARE OR HOW MUCH YOU HAVE: I know it’s very tempting to boast about your coins to anyone who will listen. Many investors quickly found themselves “crypto rich” and can’t wait to tell everyone how much they made. But in today’s world where trusting a person is so difficult given the fact that they always want to put you down is very dangerous to give them access to your cryptocurrencies.

NEVER USE THE SAME USER NAME AND PASSWORD TWICE: If it was any other accounts then it’s a strict no to use different username and password every time you make a transaction but when it comes to cryptocurrency its what I will recommend to protect your money. A there is no mail account attached for recovery there can not be anything better to use a new username and password every time you make a transaction.

TRIPLE CHECK WALLET ADDRESSES BEFORE TRANSFERRING FUNDS: Before transferring always ensure you are sending the proper coin to the appropriate wallet type and that the wallet address is complete and matches correctly otherwise soon you will find yourself in big trouble.

DON’T STORE LARGE AMOUNTS OF COINS ON MOBILE WALLETS: Mobile wallets are the same as your real regular wallet. So, if you do not store a large amount in your actual wallet because of theft, why should you put that much in e-wallets for the hackers to loot us virtually.

ALWAYS LOG OUT OF YOUR DEVICES, EXCHANGES, AND WALLETS WHEN YOU’RE FINISHED WITH THEM: This is the most crucial part to protect your money. Always log out after finishing a transaction. It will help you big time in protecting your crypto assets.

I hope these simple tricks will make your life much more comfortable and happier as you can now better protect your cryptocurrencies. Maybe some of you were already following, and some of you learned new things. Do leave your comment about any other tricks that we missed out or how much this post helped you.

The post How to protect cryptocurrency appeared first on Crypto World SEO.

Source: https://cryptoworldseo.com/news/how-to-protect-cryptocurrency/

Blockchain

Bitcoin Just Marked New 2020 High, But This Indicator Signals Correction Incoming (BTC Price Analysis)

Published

on

Starting by looking at the bigger picture, Bitcoin price had made a remarkable run since October began, gaining almost $3000 to its value.

Looking at the following long-term weekly chart, we can see this week’s greenish candle that will be closed later today. From a technical point of view, as long as the candle close price is above the $12,500 area (previous high) – we can safely say that BTC is on a healthy uptrend.

btc_oct25_w-min
BTC/USD weekly. Chart by TradingView

The Good and The Bad: New 2020 High but Bearish Divergence

Just a few hours ago, Bitcoin price recorded a new 2020 high close to $13,400 (on Binance Futures); however, the primary cryptocurrency could not hold there, and quickly slumped to $12,700 in a matter of one hour.

Looking at the shorter-term chart, the 4-hour, we can identify a bearish divergence on the RSI. This is a bearish pattern and might indicate that the buying power is fading away.

This happens when the price goes through a higher-high, but the RSI indicator is doing the opposite and going through a lower-high.

Another worrying sign is the trading volume. Since its peak volume on October 20-21, four days ago, the trading volume decreased even though the BTC price had actually gone up.

BTC Support and Resistance Levels To Watch

As mentioned above, if BTC were to correct, then the first major level of support lies at the current levels around $12.9 – $13K. If Bitcoin breaks here, then the first significant level lies at $12,700, followed by the previous 2020 high from August at $12,400 – $12,500.

From the bullish side, if Bitcoin holds the $13,000 – then the first levels of resistance lie at $13,200, followed by today’s high around $13,400. Bitcoin will be looking to break the 2019 high from June – at around $13,880.

Total Market Cap: $400 billion

Bitcoin Market Cap: $240 billion

BTC Dominance Index: 60%

*Data by CoinGecko

BTC/USD BitStamp 4-Hour Chart

btc_oct25_4h-min

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-just-marked-new-2020-high-but-this-indicator-signals-correction-incoming-btc-price-analysis/

Continue Reading

Blockchain

Bitcoin Breaks New 2020 High As Total Market Cap Topped $400 Billion (Market Watch)

Published

on

Bitcoin continues with the 2020 records and just a few hours ago marked a fresh high of above $13,350. Most alternative coins followed suit with impressive increases, but the market has calmed since then. The entire cryptocurrency market clocked at above $400 billion.

Bitcoin To Yet Another 2020 High

CryptoPotato reported a few days ago that the primary cryptocurrency exceeded the August 2020 high of about $12,500 and reached $13,200. What followed was a slight retracement to about $13,000 and stagnation yesterday.

Nevertheless, the volatility returned in the past 24 hours, and BTC headed towards new highs. This time, Bitcoin broke above $13,350. In fact, according to data from Bitstamp, BTC’s new 2020 high is at $13,362.

Another sharp rejection followed, and the asset tanked briefly below $13,000. Nevertheless, the bulls have since driven it above the coveted mark, and BTC trades at about $12,940.

A compelling chart recently revealed that Bitcoin is forming an inverse head and shoulders pattern. If it’s to play out, the cryptocurrency could soon skyrocket even further and top its all-time high of $20,000.

You Might Also Like:

If this scenario is indeed to materialize, Bitcoin would have to break above the resistance lines at $13,420, $13,500, $13,815, and $14,000 before reaching new records.

btcusd_chart
BTC/USD. Source: TradingView

Altcoins Follow Up And Calm Down

Most alternative coins experienced similarly increased volatility as Bitcoin. Ethereum surged to a new 7-week high of nearly $420. However, ETH quickly retraced and is now hovering around $409 again.

Ripple’s highest level came at about $0,26, but XRP has since decreased to below $0.253.

Thus, on a 24-hour scale, most larger-cap altcoins have remained essentially at the same positions as yesterday, despite the brief price jumps. Chainlink and Litecoin have registered the most gains of about 3.6%. LINK trades close to $12.35, and LTC is positioned at $56.3.

heatmap
Cryptocurrency Market Heatmap. Source: Quantify Crypto

The most impressive gainer since yesterday is Filecoin. After the recent controversy and continuous price slump, FIL has surged by 45% in the past 24 hours.

Ocean Protocol (18%), Quant (17.5%), THETA (10.2%), Reserve Rights (10.2%), and Ampleforth (10%) have also increased by double-digit percentages.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-breaks-new-2020-high-as-total-market-cap-tops-400-billion-market-watch/

Continue Reading

Blockchain

Ripple Board Member Arrested on Cyberstalking Charges

Published

on

  • Ripple board member and a close family friend of US President Donald Trump, Ken Kurson, has been arrested following allegations of cyberstalking.
  • According to the New York Times, Kurson has stalked and harassed a total of five victims, including his ex-wife.
  • He was reportedly most vicious against a friend of his ex-wife, whom he blamed for his divorce. He used pseudonyms to contact the hospital she worked and sent fraudulent emails claiming that she had an affair with her boss. Kurson also initiated a flood of negative Yelp reviews, threatening emails, and anonymous calls and messages to other hospital employees. 
  • The woman claimed that Kurson had used the same tactics against another female victim, who was fired from her job. The criminal complaint also asserted that the second victim is Kurson’s ex-wife.
  • The public corruption unit of the United States attorney’s office in Brooklyn is handling the case. A judge released Kurson from custody pending trial. 
  • Kurson is a close friend of Donald Trump’s son-in-law Jared Kushner. Kushner had previously appointed Kurson as the editor in chief when he owned The New York Observer in 2013. 
  • In 2018, the Trump administration offered Kurson a seat on the board of the National Endowment for the Humanities. After a routine background check from the Federal Bureau of Investigation, Kurson withdrew from consideration.
  • Kurson joined the board of directors at Ripple in early 2017. The announcement highlighted that Kurson was one of the first investors in the company. 

Featured Image Courtesy of CNBC

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/ripple-board-member-arrested-on-cyberstalking-charges/

Continue Reading

Trending