Crypto Comparison

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Our Review of RunCPA Affiliate Network

Edit May 2019: Unfortunately, RunCPA has seemingly disappeared from the face of the Earth. Their website no longer exists and we can’t find any trace of them online or on social media since December 2018.

If you are reading this then you are probably looking for a reliable cryptocurrency affiliate network. RunCPA is one we have used and had a positive experience with, that pays affiliate commission in Bitcoin.

The network was founded in 2014 and became the first affiliate marketing network run on blockchain. Now, their platform has over 10,000 affiliates.

What do they offer?

RunCPA works with both advertisers and publishers. Their use of blockchain adds to the transparency of their services whilst also reducing withdrawal fees.

The registration process for a publisher can be completed in a few minutes as long as you have a Bitcoin wallet and an email address. This gives user anonymity and makes the sign up process very simple.

What programs are on offer?

Currently there are 25 affiliate programs with various offers including online games, cloud mining systems, Forex online brokerages, cryptocurrency exchanges and freelance work systems.

Faceter ICO Review

Faceter is one of the highest-rated ICOs to hit up the cryptocurrency world in 2018. The project aims to build a decentralized, blockchain-based platform for video surveillance systems. The team behind Faceter is also working to improve the features of smart video surveillance and sell its applications in both the B2C and the B2B sectors. Faceter also has its own token, known as FACE, that will be used as a payment method between platform users. The ICO went live on February 5th and surpassed its pre-sale goal by cashing in over $10 million in token sales.

What is Faceter?

Let’s take a closer look at what Faceter actually stands for. The project is built on the Ethereum blockchain and aims to improve the features and functionality of video surveillance worldwide. Some of the ICO’s main goals regarding smart video surveillance include advanced facial recognition, identification of emotions, as well as body type, race, sex, age, and other physical features. The team is also focusing on developing assertive video surveillance systems that can ‘react’ and ‘respond’ to whatever is within their field of view. This would be particularly useful in case of fires or attacks, as the smart cameras would send signals directly to the police or firefighters pretty much as soon as it detects something.

According to the ICO’s whitepaper, Faceter aims to distribute their products across three sectors: B2C, B2B, and B2G. The B2C (business-to-customer) sector would benefit from implementing it into their smart home technology, whereas businesses could use them to easily track their employees’ arrival and departure times, and monitor the premises. The last sector that Faceter targets is the business-to-government-organizations, which is perhaps one of the main reasons behind the project’s success. Faceter can help governments identify criminals, locate missing people, and get access to a worldwide database grace to the use of blockchain.

What is FACE?

As mentioned before, Faceter has its own token called FACE. It is based on the Ethereum ERC-20 contract and has a hard cap of $40,000,000. The token shall be used by Faceter users to pay for the services provided by the platform, as well as a reward for miners who can help the project by connecting their personal of business cameras to Faceter’s hub. Miners will be rewarded if they manage to identify a person or contribute to the project in any other specified way. The prices for using Faceter’s services will be displayed in USD, and the website shall implement as many payment methods as possible to facilitate access (including fiat currencies, cards, bank transfers, online wallets, and cryptocurrencies.) Only the USD amount specified on the website will be exchanged into FACE tokens, according to the conversion rate at the moment of payment.

The FACE token sale has started on February 15th and will last until March 30th. The price of FACE tokens is tied to ETH during the sales period, which could put fiat currency investors at a slight disadvantage. The cryptocurrencies accepted are ETH, BTC, LTC, XRP, DASH, XEM, XMR, and BCH, and there’s a limit of  300,000,000 tokens to be purchased.

But is FACE worth investing in after all?

We can’t really have a clear position at this point, at least regarding the value growth of the token. However, the fact that over $10 worth of FACE were sold with up to 50% discount during the pre-sale period should be enough to predict a decent price growth for the token. Another reason that leads us to believe that FACE will not drop in value anytime soon is the fact that 15% of the tokens will be frozen by smart contact for a period of 2 years. This goes to show that the team behind Faceter is serious about developing their product, and will do their best to stay relevant on the market, keeping FACE’s value stable.

Who is behind Faceter?

Another reason why the Faceter ICO has been so successful is the strong team of developers behind it. CEO Robert Pothier has formerly worked on projects like Wallet One and Pinnacle, and CFO Vladimir Tchernitski is power engineer specializing in software development, biometrics, and neural networks. All members of the team have traceable and prolific backgrounds in their fields, which makes the Faceter project credible for investors.

On the other hand, the Faceter team does keep some of the relevant project information to themselves, including financial forecasts and a global marketing strategy; however, this has not turned away a lot of investors, both businesses, and casuals.

The bottom line on the Faceter ICO: it is definitely a worthy project, as its scope and aims are relevant and certainly useful for the modern society. Faceter has a strong team of developers, engineers, and experts in other fields working behind it. The ICO whitepaper has clearly formulated goals, and the blockchain implementation works hand in hand with the scope of the project. The growth potential of the FACE token leans heavily towards the positive, making Faceter an attractive option for all investors, not just those who are interested in the project itself.

Hashflare Reduces Prices from $2.20 to $1.80 per GH/s

Hashflare have now reduced their cloud mining contracts from $2.20 per GH/s for a 1 year Bitcoin mining contract to $1.80 per GH/s, an 18% reduction in the off the shelf price.

Step 1.

Login to your account (if you are already logged in don’t worry), head to your account page. This will take you to your panel.

Step 2.

Now you are in your panel and have activated the offer, add some SHA 256 hashrate to your basket. Once you’ve added however many GH/s or TH/s you would like to purchase, proceed to the next checkout page.

Step 3.

You will now have the rate of $1.80 per GH/s rate applied to your account. Compared to when it was $2.20 you are now saving over 18% off the price you would have paid just a month ago.

Enjoy!

Play2Live ICO Review for March 2018

Video games and the eSport markets have gained widespread popularity worldwide. For instance, they have reached up to $107 billion alone, which is already larger than the total profits brought in by the film industry. This shows that its a growing market that has an increased level of demand as it continues to develop.

Play to Live is a project aimed at video game aficionados, eSport professionals, and video game content creators and streamers. It provides all of the main advantages of blockchain technology such as transparency, speed, and availability.

Play to Live’s main goal is to create a decentralized ecosystem for eSports fans and gamers. Additionally, they want developers and third party projects to integrate via API and help contribute to the platform.

What is Play2Live?

To outshine their competitors (as there are 30 projects that are similar to Play 2 Live), Play 2 Live focuses on these main markets:

  1. Gaming and eSports
  2. External items exchange and betting
  3. VR
  4. VOD and Live broadcasting of video game content

What Problems Does it Solve?

Centralized streaming platforms such as Twitch have grown in members (100M in total) which is equal to the same amount of users within the crypto community. Despite their growth, Twitch has changed over the last 5 years and provide limited forms of interaction between streamers and users.

Play 2 Live fixes the following issues:

  1. Advertising is permanent and there’s no ability to disable it. This can irritate users and forces them to avoid advertising through any means.
  2. Restricts users to be compensated for their hobbies.
  3. No personalization options and limited iteractions between users and streamers.
  4. Each user who wants to earn money regularly They expect to have more tools to assist them on their monetization and gain money once they started with the platform.

With Play 2 Live, viewers become more than spectators unlike Twitch and YouTube streaming platforms. As of now, almost 80% of the users on Twitch’s network uses adblockers to have a more comfortable viewing experience. Play 2 Live is expected to reduce this number and help them get paid on a regular basis.

Token Information

Level Up Coin is Play 2 Live’s main form of currency. Since it’s on a ERC-20 network, the coin is unable to be illegally hacked or stolen. With LUC token, people can earn revenue in 11 different ways, which is more than traditional services which uses only 4-5 methods receiving payment.

Disclaimer: We are not investment advisers, nor do we expect our readers to take this post as such. This post is made for just informational and educational purposes only.

Best Bitcoin Cloud Mining Companies For May 2019

The most important aspect of cloud mining is the company providing the service. You have to make sure that they are legit before you purchase any hashrate from them.

Which Cloud Mining Site Do We Recommend?

Hashflare is one of the biggest cloud mining companies on the internet right now. They have been active since 2014, and have earned a great reputation throughout the years.

If you’re looking for Bitcoin cloud mining, Hashflare is the perfect place for you. Not only does Hashflare they have some of the lowest fees in the Bitcoin mining industry, but they also pay you every 24 hours – great if you want to have the money on hand right away.

Another thing that makes Hashflare attractive for beginner miners is the types of contracts they are offering. They offer SHA-256, Scrypt, Ethash, and Equihash contracts, which allow you to mine and earn not only Bitcoins, but also altcoins like Ethereum, Litecoin, Dogecoin, Dash, and more. This is perfect for Bitcoin skeptics who prefer to diversify their mining portfolios just to stay safe.

Hashflare also offers customized mining contracts. That means you get to choose how much hash power you’re buying, which directly influences your chances of finding a block and being paid. They have a minimum required hash rate, but for the best results, you might want to purchase more than that. An online mining calculator should give you a good estimate.

Lastly, Hashflare will offer you everything you need for mining – a wallet to keep your earnings, the opportunity to choose your own pool, and to reinvest the money you earned into more mining power. This last aspect is especially important. As the price of Bitcoin and other cryptocurrencies is growing every day, you could exponentially increase your mining gains by reinvesting the money you already made.

There are two possible ways of investing in cryptocurrencies, and they are: buying the coins from an exchange or mining them. Both options are equally attractive, but buying the coins at the current market price can be a bit expensive, especially if we’re talking Bitcoin, which makes it risky for people who want to start out on a budget. On the other hand, we have mining, which seems like an easy way to earn some Bitcoins without putting down a huge chunk of cash at once. However, Bitcoin’s value growth has attracted millions of miners in 2017, which raised the standards quite a bit. While you could start mining with just a GPU in the past, you would have to get a computer built specifically for Bitcoin mining. And that alone can cost you $5k, if not more.

So, what is the solution? Both buying crypto coins and mining from home seem way too expensive for a beginner. The short answer is cloud mining. Cloud mining refers to renting a portion of a computer’s hash rate from a company that owns and maintains it. In other words, you can start mining with as little as a couple of bucks and no effort.

Top 10 Bitcoin Mining Pools to Join in 2019

Bitcoin mining is getting more and more competitive every day. Whereas before, it was possible to mine Bitcoins by yourself, just with a graphics card, nowadays the competition is just too high. Not only does mining require special computers built for the exact purpose of mining Bitcoins, but you also have to join a pool if you want to secure some kind of profit. Even if you have an extremely powerful rig, the chances that a standalone miner will find a block are almost 0, considering how money computers are working on the same thing all around the world. If you’re just planning to become a Bitcoin miner now, you will have to do quite a bit of research on what mining pools you can join to make the most out of Bitcoin mining. Here’s some we found reliable:

  1. Antpool

Antpool is the biggest Bitcoin mining pool at the moment. Based in China, Antpool found its first block in 2014, and it’s currently said to find between 20-25% of all the blocks in the Bitcoin network. More than that, they are known to find around 15 blocks per day – pretty juicy if you ask us. Anyone can join Antpool regardless of where they are based in the world, but their fees are pretty high. Although they charge no fees for PPLNS, Antpool takes a 2.5% transaction fee for PPS payouts.

  1. Slush Pool

Slush Pool prides itself on being the oldest Bitcoin mining pool, which was founded in 2010 and has mined over 1 million Bitcoins already. Nowadays, it controls around 4% of the amount of blocks found daily. For a flat fee of 2% per payout, you can join Slush Pool and start mining. It’s not as big of a community as Antpool, which means there’s probably a chance of cashing a little bit more. Another advantage is that they let you withdraw your gains from as little as 0.0001 BTC, something you won’t come across too often.

  1. BTCC

BTCC is another Chinese giant that currently controls about 15% of the world’s hash rate. It also serves as a Bitcoin exchange and a wallet, which makes it a bit more convenient for newbies that would prefer to have everything in the same place. However, the main disadvantage of BTCC is that their mining pool’s main language is Chinese – so if you don’t speak it fluently, you might have a hard time. But in case you do, their PPS fee is just 2.0%

  1. DiscusFish (F2Pool)

Yet another Chinese mining pool, DiscusFish or F2Pool is a rather recent presence in the mining scene, Despite that, they are already mining around 5% of the Bitcoins in the network – a pretty impressive stat for only being in the business for so long. They charge a 3.0% fee for their PPS payments, and they also mine altcoins, including Ethereum, Litecoin, and Dash.

  1. BitMinter

Bitminter is a pool based in the US, who used to be way more active in the mining in the past than it is now. However, it still controls around 1% of the Bitcoins mined daily and has already mined over 190k Bitcoins as of December 2017.Bitminter uses a rather uncommon today system of payment, which is   PPLNSG (pay per last n groups), as the pool uses the group or shift system to reward its miners.

  1. Kanock

Also known as just Kano, or Kano CK, the pool offers an interesting feature that is solo miner payments, which offers you the opportunity to cash in the whole payout with just a 1.5% if your computer happens to find a block by itself. However, if you’re aware that that might never happen, you can also opt for their PPNLS system, which charges 0.9% fees.

  1. GHash

Based in the Netherlands, GHash is a small Bitcoin mining pool with 0% fees for their customers. They have a pretty impressive block finding rate, at roughly 22 blocks per day, so the chances of you actually making some good profits are pretty high. On the other hand, you do need quite a bit of hash power – tens of terrahashes to be exact, to make a decent profit. GHash pays on a PPNLS basis.

  1. Eligius

Eligius is another mining pool based in the US. A fairly young and small one, which means there’s a lot of potential for bigger profits. The miners are paid on a CPPSRB (Capped Pay Per Share with Recent Backpay) base, and the pool does not charge any fees. However, you can only withdraw your gains from 0.04 BTC, so you might have to mine for a while before making it rain with real money.

  1. Multipool

Launched in 2011, Multipool is based in both the States and EU. They offer merged mining – in other words, you can use the same platform to mine both BTC and a lot of altcoins, including LTC, DASH, and more. They don’t participate in Ethereum mining though, so might not be the best choice if you want to mine both BTC and ETH. Multipool pays on a Score basis, meaning the more time your computer spends on looking for the block. There’s a 1.5% fee for all mined currencies except Bitcoin classic, which is currently at 0% fees.

  1. Polmine

Polmine is a small Bitcoin mining pool based in Poland. It’s mostly targeting a European audience and has a very friendly English interface. It is responsible for around 2% of the blocks  mined daily, which is pretty impressive considering the size of the pool. They support Bitcoin mining, but also Litecoin, Dogecoin, and Namecoin. They pay on a PPS base and charge a 1% fee on all transactions.

These were 10 Bitcoin mining pools that you can join as a beginner miner in 2018. And while it can be hard to predict whether you are going to make a profit as a member of any of these pools, it won’t hurt to try – at least you know for sure your chances are higher as a pool member than as a standalone miner!

Cryptocurrency Cards: A Complete Guide

Cryptocurrencies are becoming more and more popular nowadays, but there’s one issue many people are concerned about, and that is: How can I spend my coins?

If your knowledge about Bitcoin and other cryptocurrencies is solely based on the myths propagated by the media in the last couple of years – about how it was invented and used as the currency of the online black market and how everyone using it was a sort of cybercriminal, this article is going to prove you the exact opposite. Tons of businesses are accepting Bitcoin payments right now, and those who don’t will certainly take credit or debit cards. Today, we are looking at one of the most convenient inventions in the cryptocurrency niche – and that is cryptocurrency cards, which allow you to spend your Bitcoins or altcoins using a simple payment system everyone is familiar with.

Cryptocurrency cards are a rather recent invention, dating back no more than a couple of years. Before, if you wanted to have your crypto coins on your card, you would have to 1) use an exchange to purchase fiat money, and 2) transfer it to your bank account. You would be charged fees for both of these steps, and you’d also need quite a bit of time on your hands, as the exchange process and the transaction could take up to a week. Cryptocurrency cards reduce the process to one step – and that is exchanging the exact amount of crypto coins into fiat money the moment you make a purchase. No more fees from your bank or long waiting times – what’s not to love about it?

But how do cryptocurrency cards work? Who is issuing them, how can you trust them, and where can you use them?

For one, there are several companies that issue cryptocurrency cards. Some of the most trusted ones at this point are Cryptopay, TenX, Coinbase/Shift, BitPay, and Monaco, but there are a few hundred smaller companies that may or may not be worth your time. There’s no real way to make sure that the crypto card company is legit, other than doing rigorous research. And, just like any other business in the cryptocurrency niche, crypto card companies will usually make their websites and social media presence as impeccable as possible – but you should always revert to non-biased, third-party reviews before choosing a company.

The crypto card company will usually offer two options – either a physical plastic card or a virtual card. Now, you might be wondering why on Earth would you need a virtual card when you already have your crypto wallet, but think about all the online stores that will only take cards, and not crypto wallet payments. For that kind of payment, you don’t really need to hold the plastic card in your hand – you just need to introduce the name, card number, CVV code, and expiration date on the website. All that data makes up a ‘virtual card,’ that is usually cheaper and less of a hassle than a physical one. However, if you prefer to have the real plastic card in your actual wallet, you can also have it delivered to your door.

Whether you opt for a real or virtual card, they will be equivalent to the VISA or Mastercard you currently have in your wallet. That means you can use the crypto card anywhere where they take VISA or Mastercard – including your local grocery store, the gas station, and at thousands of online stores.

Let’s talk fees, as none of these crypto card issuers is doing it out of goodwill alone. The fee system is very similar to that of banks and standalone card issuing companies. When you create a new card, you’ll have to pay an initial fee depending on the type of card you want (real or virtual). If you want it shipped, some companies will charge a shipping fee as well. Then, you will have to agree to a monthly maintenance fee (usually a couple of dollars) – and here it’s important to opt for a company that charges a flat maintenance fee regardless of the amount you have on the card. You will also be charged domestic and international ATM fees, and sometimes transaction fees, which should be less than a couple of dollars as well.

Limits are another issue, especially if you’re an investor or someone planning to do more than just order pizza with their new crypto card. We won’t go too deep into the limit amounts, but it’s important to check that the company lets you withdraw as much as you need to, and as often as you need it. You might also check the top-up limits, both the daily and the lifetime ones. Lastly, look into the company’s online transaction limits (if any), as those can be a huge pain if you want to shop online using your crypto card. A rule of thumb here is that the fewer limits a company imposes, the better for you – both as a casual user and an investor.

Note that all of this information is, or should be, available on the issuing company’s website. If it isn’t, it might be a red flag that the company is not as transparent as they should be, so better stay away from them.

Lastly, what are the advantages of a cryptocurrency card? One of the most important ones is convenience – you can now use your coins to buy just about anything, even if they don’t take crypto wallet payments. When you buy something, only the amount you pay is converted into fiat currency, and the conversion happens on the spot, without the need to go through an exchange. It also cuts the amount of time it takes to exchange and transfer cryptocurrency using traditional methods. In conclusion to all above said, crypto cards are one of the best options for people who want to spend their coins instead of keeping them in a wallet, grace to the ‘universal pass’ that is that VISA or Mastercard logo.

A Beginners Guide to the Blockchain Technology

As a newbie to cryptocurrencies, there’s one thing that most people seem to struggle to understand – and that is the blockchain technology. Let us put this out there before you proceed: not everyone who buys and trades bitcoins needs to know how the blockchain technology works. Not even all miners out there know how it works – and they are directly contributing to the creation of the blockchain. However, understanding the principles behind the blockchain technology gives you that extra layer of analytical prowess that is indispensable in the financial world, especially if you’re after making big money.

The blockchain technology is the backbone of any cryptocurrency. It is a complex system consisting of three different technologies: 1) private key cryptography, 2) P2P networks and 3) a network servicing protocol. Might sound like a bunch of big complicated words, but it’s much easier if you put it in other words. Let’s examine.

First of all, it’s important to understand that all cryptocurrencies out there are based on the blockchain technology – with some differences here and there depending on the currency. However, for convenience, we’ll use Bitcoin as an example.

Let’s say A wants to transfer a number of Bitcoins to B. They would need to have the following: a private key and a public key of their own (which are just long arrays of numbers and letters) that create A’s digital signature, as well as the public key of the recipient. That is the essence of the private key cryptography system. In other words, it means that every transaction in the Bitcoin network has an encrypted identity, defined by the public and private key of the receiver and sender, the time stamp, the hash history of the money, and the written description. All of those elements make up a block that has to be included in the blockchain – but how do we trust that a block contains real information that can be trusted?

That’s where the P2P (peer-to-peer) system kicks in. Many like the analogy of a tree falling in the forest – the fact that other cameras witnessed the event serves as a proof that the tree has actually fallen, despite there not being a third party to monitor it. Similarly, the P2P technology serves as a ‘camera’ that ensures that every block contains veridic information and thus can be added to the blockchain. The ‘camera’ in this case are all the other people who use Bitcoin. However, instead of visual proof, the P2P technology has to prove that the information in the block is veridic using mathematics.

That’s where the third and last technology comes in – the protocol. A protocol is the means you use to ‘prove that the tree has actually fallen,’ if we were to stick to the same analogy. In the case of Bitcoin, for example, transactions are encrypted using an algorithm called SHA 256. You don’t need to understand how the algorithm works in order to solve it – all you need is a powerful computer and decrypting software, which is both widely available nowadays. And because there are so many people in the Bitcoin network, the combined power of their computers allows them to decrypt the information on a block in less than 10 minutes. Naturally, not all computers in the network are equally powerful – some can decrypt much faster, and thus bring a bigger contribution to the P2P system.

But how did Bitcoin attract 1) so many people willing to help find the blocks, and 2) so much computing power? The answer is simple – whoever is the first to decrypt a block of information gets to add it to the blockchain, and is rewarded with Bitcoins for it. Seems like a very easy way to make money, right? Not really anymore. With so much computing power in the Bitcoin network nowadays, it’s pretty much impossible for an individual to decrypt a block on their own, no matter how powerful of a rig they have. That’s why the notion of ‘pools’ has appeared in the P2P system – the concept of pool means more people create a community and join their computing prowess to increase their chance of decrypting a block, and thus get the reward. The reward is them split among the pool members.

This is a general outline of how the blockchain technology works. Whichever cryptocurrency you might be interested in, they all employ the same three technologies to keep them going – the private key cryptography, the P2P networks, and protocol. Keep in touch with Cloudminers for currency-specific blockchain guides.

 

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What is Bitcoin? All You Need To Know

Bitcoin is the most popular cryptocurrency in the world right now. Its price hit an all-time high of $20,000 in December 2017 and spiked a lot of people’s interest in the cryptocurrency niche. You might be one of them – and if you’re a complete newbie, you need to understand what Bitcoin is and how does it work before anything else. In this article, we’re going to give you a short run-down on everything you need to know about Bitcoin, from who developed it to what backs it up.

Bitcoin is a digital currency. It was developed by a certain Satoshi Nakamoto, whose real identity remains unknown to this day. That’s why the smallest divisible amount of Bitcoin (0.00000001) is called a ‘Satoshi’.

Much like US dollars or Euros, Bitcoin can be used in exchange for goods in services in the digital space. However, it is not printed on paper, like fiat money – it only exists in electronic format. Another defining characteristic of Bitcoin is that it is a decentralized payment system, meaning no bank or government institution can control it. No one can ‘print’ or ‘create’ more Bitcoins from thin air to cover national debt or whatnot – which is what often leads to currency devaluation. This last point is the reason why Bitcoin became so popular, as people all over the world liked the idea of a currency that is not influenced by a country’s economy.

As mentioned above, Bitcoin is a decentralized payment system – but there must be a way to keep track of all the transactions, right? Absolutely, and that is what we call the blockchain, which is a growing system of records that contains information about every Bitcoin transaction that ever happened. The blockchain is literally a chain of blocks of information, where each block contains data about one Bitcoin transaction. In the case of fiat money, a bank would have to approve of the transaction in order for it to be considered valid. However, the Bitcoin network requires that other people in the network validate the transaction. In other words, Bitcoin is a peer-to-peer payment system (P2P), where there is no third party controlling and monitoring the transactions.

Everyone in the Bitcoin network has access to the latest copy of the blockchain record. In other words, anyone can check and see every transaction ever made using Bitcoins. You’d think transparency is good and all, but how you protect your privacy in such a system?

The Bitcoin network does not require any of your personal information. A Bitcoin user can have multiple Bitcoin addresses, but none of them are linked to their real name. All you need in order to send or receive Bitcoins are a private and a public key, which demonstrate your ownership of the funds. Here’s where the ‘crypto’ part in ‘cryptocurrency’ becomes relevant. Bitcoin was the first successful attempt at creating a currency based on a mathematical algorithm, that generates unique signatures for every transaction. The signatures have to be decrypted in order for the transaction to be added to the blockchain.

But who takes on the responsibility of deciphering the blocks of information in order for them to be added to the blockchain? As mentioned before, other people in the Bitcoin network have to decrypt the information in order to validate it. It takes quite a bit of computing power in order to decrypt each signature, so in order to attract more people into doing it, the network awards a number of Bitcoins to the first person/computer that finds a block. That is also how Bitcoins are brought into existence – as a reward for the computing power used to contribute to the blockchain.

There’s also a limited number of Bitcoin that can exist in the world, and that is 21 million. Once all 21 million Bitcoins have been ‘mined’ by validating transactions, the whole supply will be in circulation. By then, the only way to obtain Bitcoins will be to buy them from an exchange, or another person.

There are a number of other reasons why people prefer Bitcoin over fiat money. For one, Bitcoin is now widely accepted as a payment method for both online and offline businesses. You can use Bitcoin to purchase goods and services, or you can put your funds on ice and use them as a hedge against inflation. The processing time and fees of Bitcoin transactions are very low compared to those of banks and credit card issuers, and they’re also anonymous. Lastly, all you need in order to use Bitcoin is a Bitcoin address, which requires none of your personal information, and can be done in seconds, so it’s also accessible to pretty much anyone.

 

 

How To Diversify Your Cryptocurrency Portfolio – Top 10 Tips

If you already own some Bitcoins are are seeking out a way to secure your investment, one of the best things you can do is diversify your cryptocurrency portfolio. Even if you are a firm believer in the bright future of Bitcoin, you can’t ignore a possible bad scenario – the bubble can burst at any time, and the price of Bitcoin can go down as abruptly as it went up last year. That’s why many financial advisers and experts recommend investing in alternative cryptocurrencies as well – be that Ethereum, Litecoin, Dash, or other altcoins.

But what is the best way to start diversifying your cryptocurrency portfolio if you don’t know anything about altcoins? Here are some tips:

  1. For starters, do some in-depth research on the biggest altcoins out there. We’re sure you already know what they are: Ethereum, Litecoin, Dash, Zcash, Ripple, Monero, Start by finding out why the currency was created in the first place – as each cryptocurrency appeared as an alternative or a solution to an already existing problem. For instance, Dash was created with the intent of being the ultimate digital form of cash, which is easy to send and receive grace to its ‘Instant Send’ feature. Ethereum brings the novelty of ‘smart contracts’ to the table, while Zcash and Monero offer additional layers of privacy to its users.
  2. Understand why the principle behind each altcoin is useful for the community. Then try to imagine which of these principles looks the most promising – and although this is mere speculation, it should at least stir you into the right direction as to what altcoins to invest in. There is no right or wrong currency to invest in, and anyone claiming to know that is no more of a speculator than you.
  3. Get multiple crypto wallets. Although there are websites out there that offer multiple account wallets, it’s never a good idea to keep all your assets in one place, regardless of how safe it is. When dealing with multiple currencies, it’s probably best to get different kinds of wallets as well. For instance, you could finally put the money down for a hardware wallet, such as a Ledger or a Trezor, and keep your Bitcoin in there, and you could get a couple free software wallets for trying out different altcoins.
  4. Try P2P exchanges for good deals. The great thing about P2P exchanges is that you can connect with various traders around the world, and usually get to buy the coins at a lower price than the market one. That’s a huge advantage if you’re starting to test the waters with various altcoins. Needless to say, be extra careful when choosing a P2P exchange site, as they’re the perfect spawning ground for scammers. We recommend LocalBitcoins, but you can also find other trusty websites out there.
  5. Try altcoin mining to get some real passive income going. Now is a great time to get into altcoin mining, especially if we’re talking Dash or ZCash, that can still be mined using regular CPUs and GPUs. There’s a high chance that you can do that on the computer you’re reading this article on, so why not give it a try? However, if you’re not interested in that, you could still try cloud mining with a company like Hashflare, that offers both Dash and ZCash
  6. Start small. Diversifying your portfolio does not imply going out there and investing $10 in each novelty coin that looks Start by adding one, or at most two altcoins to your portfolio. Many people prefer to stick to the Bitcoin-Ether combo, or the Bitcoin-Ether-Litecoin one. These being the three currencies with the biggest growth potential in the year to come, it shouldn’t be a bad idea to start with them.
  7. That being said, know your budget. If you want to make some decent profit, it’s always a good idea to invest more. So, if you’ve set your mind on a $100 budget for diversifying your cryptocurrency portfolio, better invest all of it in one well-researched coin than $30 in three different ones. If you bought 1 Ether in May 2017 for $100, you’d have around $750 as of the end of the same year, while if you invested $30, you would have $250. Identical growth rate, but pretty different profits, right?
  8. Set up a plan. How much are you planning to invest in each currency you want to own? It’s best to keep a rate system and reserve the highest rate for the most stable currencies. Again, most people would recommend you keep at least 50% of your investment in Bitcoin and Ethereum, which seem to be the most reliable coins, and use your research to back up the rest of your investments.
  9. Don’t bet too much money on ICOs. For those of you who don’t know, ICOs, or Initial Coin Offerings, are nothing else than new cryptocurrency fundraising projects. With over 500 altcoins on the crypto market right now, you can imagine how many of these ICOs keep appearing every day. And while some of them seem like real deals and may pay off, we don’t recommend them as a safe diversifying strategy. ICOs should be treated as nothing more than gambling, and you should never invest more than 10-20% of your diversifying capital in them.
  10. Keep in touch with the news. The cryptocurrency niche has no tolerance for the uninformed. If you snooze, you lose – that’s why it’s important to keep in touch with the growth rates and the trends for the cryptocurrencies you’re planning to add to your portfolio.

There you have it – a list of 10 tips to help you diversify your cryptocurrency portfolio. It’s one of the best things you can do for securing your investment, as you will have not one, but several backup plans in case your main hedge lets you down. Keep in touch with Cloudminers for more cryptocurrency insights and guides.