• No need to store hundreds of gigabytes of history on your device.
• The interface is user-friendly and understandable, there is no need to learn it additionally.
• The level of security is usually higher than in mobile wallets.
• It is possible to use both from a PC and a cell phone.

How Online Wallet Works

• Online wallets do not store cryptocurrency. They only store public and private keys to your money.
• A public key is an address where other users send you money. In principle, it is similar to an email.
• A private key is a set of letters and numbers that allows you to access the money. If the public key is an email, the private key is the password to it.

Some people don’t like that an online wallet has their private key. But they need it so they can verify your identity. It’s like complaining that Google knows your Gmail password – how else can you prevent other users from reading your correspondence?

How to choose an online wallet

• Getting an online wallet is a matter of minutes. But first you need to find a reliable service. One that won’t lose users’ money or run away with it to Thailand.
• Make sure before you create a wallet that your coins will be stored in a “cold” wallet – a vault that is not connected to the Internet. It’s harder to hack into.
• Study the company, its team, and its reviews. In the end, make sure that you are willing to trust a third party with your money. And only then create a wallet.

How to exchange cryptocurrency for fiat money
Fiat money is regular, hard money issued by a government. For example, the dollar or the ruble. And since many services don’t yet accept cryptocurrency, we still need fiat money.

There are three main ways to transfer money from crypto to fiat:

• Cryptocurrency exchangers (Coinbase, GDAX). You should choose an exchanger as carefully as an online wallet. Check security, read reviews and reviews of other people who know about it. One unpleasant story that happened to a large exchange Mt.Gox has already been discussed on hubra.
• Cryptocurrency trading platforms. On these exchanges, sellers can find buyers – and vice versa. After the initial “meeting” at the site, users decide how they will transfer funds to each other. Usually they meet in person or use bank transfers.
• Cryptocurrency cards (Bonpay, Spectrocoin). Special bank cards for paying directly or withdrawing money from ATMs.

The cards are not available for Europe and CIS countries now, because the only card provider in Europe stopped its existence. But many companies promise to issue new ones in the next few months.

The post Why online wallets are better appeared first on Miningalts.

Investors working for the medium or long term use several profitable strategies at once:

• Portfolio investments with the formation of a set of profitable coins;
• hoarding – passive investing: you keep coins in your wallet until they reach your profitability targets;
• stacking – storing cryptocurrency with commissions in a wallet, which is used to support a blockchain network;
• mining – a way to make money on cryptocurrency by mining coins on specialized equipment;
• hodeling, which involves investing in promising tokens in the hope of their explosive growth;
• the use of referral programs.

How to build a cryptocurrency portfolio
To make money on cryptocurrencies, it makes sense to assemble a competent portfolio. First of all, it should be balanced, that is, it should consist of 4-8 cryptocurrencies selected according to a number of parameters.

There are two types of cryptocurrency portfolios that are assembled similar to traditional assets. A conservative portfolio with minimal risk will have reliable and proven currencies, while an aggressive portfolio will have promising and new currencies, which means that they imply a certain risk.

Conservative cryptocurrency portfolio
Let’s consider a conservative portfolio. The main share – 70% – must be reliable coins from the top 5 cryptocurrencies (BTC, ETH, USDT).
Another 25% can be coins from the top 10, behind which there are serious, proven companies in the cryptosphere (XRP, SOL, ADA).
5% can be left for highly volatile coins that have shown rapid growth – for example, in March 2022 it would be ApeCoin (APE), Waves (WAVES), THORChain (RUNE). Even if a steep drop happened, the losses would be balanced by a large share of reliable coins.

Aggressive cryptocurrency portfolio
Now let’s look at an example of an aggressive portfolio. Reliable coins in it – bitcoin, ether, USDT will occupy 50%.
At the same time, promising coins from the top 50 – SOL, ADA, RUNE and others – will account for 25%, and another 25% will be high-risk assets in the range from 50th to 100th position (BAT, OMG and others).
During the growth of the main cryptocurrency, the return on such a portfolio can exceed 100% per annum. This is because bitcoin growth is always followed by altcoin season, a time when the major coins pull up in price.

How to make money on cryptocurrency. Bitcoin example.
Back in March 2020, bitcoin’s value was dipping just below $4,000 amid panic over the spread of the coronavirus. And in March 2022, it’s trading at $47,770. And that’s without taking into account the record in November, when BTC rose on various exchanges to almost $68,000.

If you bought bitcoin two years ago at $4,000 and sold not even at the peak but now, in March 2022, you would have earned $43,000. So the net return on investment was 1,094%.

Bitcoin has not only survived the global economic crisis caused by the coronavirus pandemic, but it has also fully realized its potential as one of the financial world’s top defensive assets. It has also received a tremendous amount of attention from institutional investors, who are now actively investing hundreds of millions of dollars in the cryptocurrency.

The post How much can you earn on cryptocurrency appeared first on Miningalts.

The main problems in the reviews are:
1) No license – it’s not true there is one. On the official website at the very bottom.
2) Exchanger does not withdraw money – also not true. withdraws.
3) Scam – as I found out, the exchange was bought in December 2020 and began official operation in January 2021 (information taken from their social networks).

Here the situation is different. Exchanger is not a scam, but it is almost unknown, the exchange has its own audience who are actively trading, I communicated with them in Telegram chat.

Since this is a young project, I can highlight the following disadvantages:
1) The lack of margin trading. They are very active traders and they do not have any trading slippers.
2) Verification when withdrawing more than $ 1000 / day.
3) Relatively not big quantity of pairs.
4) Not habitual at first trade terminal.
5) Little functionality.

These are the minuses that hit my eyes.

Pluses I can note only 3.
1) Cashback – but if you do not do 20-30 deals a day, this plus is not for you.
2) Token – I have confidence in him, for the long term took not much, just for the sake of interest.
3) Real fast withdrawal. After verification I withdrew 1250USDT and they were very quickly credited to my main account.

There are interesting interesting things, not long ago you could buy NEO token at 15% below the market price.

As an experience, I can say that in this period of time the project is developing, and I wish him good luck. But an experienced trader now there is nothing to do. This is my personal opinion.

PS.
This post contains only my personal experience. I spent more than a month for this test. I looked through everything, bought something, left something on the exchange.

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Any existing digital file can be copied as many times as you want and the original file will remain unchanged. You can duplicate and infinitely duplicate pictures, sound, video, weather and bean harvest information – that is, anything, including data on financial transactions. That is why banks and payment systems carefully encrypt all financial information and distribute it through their own closed channels: this is the only way to control the data and prevent abuse and fraud.

But in 2008 somebody (still nobody knows his identity) under the pseudonym of Satoshi Nakamoto published in the Internet the protocol of principally new payment system: information in it is distributed through open channels between computers united in a common network. All these computers remain equal and together control the distribution of files. This database is called a blockchain. There is no outside interference, all information is distributed throughout the network and all client computers are busy continuously validating the integrity of the financial data.

This independent payment system has been named “bitcoin” (from the English words “bit” for “unit of information” and “coin” for “coin”), and so has its unit of account. Networked computers work for a reason: for the constant validation of files, the system pays their owners remuneration in the same bitcoins – a process called mining. At first, these were fairly simple operations that even weak home computers could handle.

Bitcoin was then little known to anyone, was not widespread, and therefore cost very little: for example, in 2010, the American Laszlo Hanechza bought two pizzas with delivery for 10,000 bitcoins. Over time, more and more terminals connected to the network, the number of digital transactions grew, and bitcoin skyrocketed in value: at the time of this writing, the same 10,000 bitcoins are worth about 27 billion.

As mining became more and more complex, it required more and more computing power, and by today only so-called mining farms, consisting of many very powerful computers and consuming huge amounts of electricity, can fully mine cryptocurrency. Mining is used by major banks, international corporations, and even entire countries.

It is worth mentioning that the system has a limit: it can only produce 21 million bitcoins and not one more. With each new unit of payment, mining the next one becomes more and more expensive, and that’s why the intrinsic value of bitcoin is constantly growing. So what makes the cryptocurrency go up and down? This is where the general laws of the market come into play: bitcoin is traded on exchanges in the same way as other currencies, so the same forces and laws apply to it.

However, there are peculiarities. Bitcoin is a young currency, and most of the players trading in this market have absolutely no experience. That’s why they easily succumb to both euphoria and panic. Most different events make them either to buy or to sell in mass and as a result the rate is constantly fluctuating. However, the general vector remains unchanged: the price of bitcoin is constantly growing. This trend is unlikely to change in the near future.

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Nine essential steps at the start
Here are a few rules to follow. It’s important to understand that this material is not a recommendation to trade, it was created for information purposes. The information gathered here can be useful, as tested by trial and error.

Study the selected project.
Usefulness is the first thing to highlight for yourself. Popular today are financial instruments like loans, investments in home sale or rental companies, alternative energy technologies, and so on (DeFi). Without utility, the project will eventually cease to be of interest to the community – this is the first thing. The second is that such projects will be more susceptible to artificial influences from stakeholders, such as voshtrading and speculation.

Cryptocurrency ratings cannot be ignored, yes. But.
There are top altcoins, they have already gained their audience. But on such coins, it is advisable to stick to a holding strategy and small investments.

Rely on useful resources.
Add sites to bookmarks on your computer to track the dynamics of asset values. For example, CoinMarketCap, CoinGecko.

Gain basic knowledge of what an order is.
What varieties there are, how each particular order works. It is necessary to find the least “painful” form of trading. At the start, as a rule, one turns to stop-limit.

Study the instruments of a particular cryptocurrency exchange.
Thoroughly and carefully. As a rule, they provide tables of price dynamics, place stacks that show all ongoing trades, longs and shorts.

Determine a strategy.
What kind of trading will you do, what will be your strategy? Will it be quick trades, lots of assets, small investments, trading? Or investments “for the future”, measured trade. In general, again – longs and shorts – go deeper into this topic.

Learn the basics of technical analysis.
It is recommended to fill the books for some time. A good idea is Murphy. He explains in simple and clear language what patterns are, how to track trends, how to evaluate statistical data. Perfect for starting out.

Choose a cryptocurrency wallet.
Cryptocurrency wallet – be sure to learn what they are and which one is right for you before you open it. It is recommended, for example, to keep the bulk of assets in a cold wallet, and to use a hot wallet for transactions.

Free cryptocurrency giveaways.
If you are considering airdrops as a way to delve into the world of crypto, cryptocurrency, or more precisely, cryptoproject, is most likely just around the corner. You should be careful. The medium recommends not rushing to invest, and after getting free, take some time to take a closer look. Often after such marketing activities, the price rises, but after some time stabilizes and falls.

Understand the functionality of a crypto project
More than once I heard the question: “I bought a project token/coin? But how is the work of the project related to its assets, how do I understand the work of these projects?”.

Imagine that there is a company that produces a certain product, provides a service. This company has stock. Depending on the success of this company, the value of its shares can rise or fall. It’s the same with crypto projects.

• Bitcoin’s position in the market. The first cryptocurrency, as can be traced even today, pulls the entire world of cryptoassets with it. It rises – often others rise. It goes down – others go down.
• Does the coin/token have an issue. Here, as in stock trading, there is a correlation: the less free (not traded, not on hold) coins there are, the higher the supply. Successful companies get their demand from this. A trading strategy can depend on this factor.
• Whether there is a mining pool, what its activity is. This will help determine the number of coins in circulation.
• Including the actions of large institutional investors should be monitored. Often, large investments in projects from outside predict a rise or fall in value; can also indicate promise and usefulness.
• Technical analysis is a must. The basic figures of technical analysis, such as resistance and support levels, and candlesticks, all need to be understood, preferably in their entirety. Especially if significant investments are planned. Very useful material with basic information can be found here.

It is also mandatory to take into account the complexity of the network when mining. The hash rate can increase or decrease. This can affect the pricing. Finally, the behavior of the miners: whether they are actively selling, buying or holding the mined assets. If they are holding, then it’s probably not worth the rush to trade.

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