Here’s a Useful Fund For Investing In Blockchain Without Buying Bitcoin

“Buy the rumour, sell the news” is an old market saying – and we got a classic of the genre yesterday.

It was a huge day in the evolution of bitcoin. From its origins on obscure chat boards, the open-source experiment of a few renegade computer programmers, to mainstream investment vehicle.

And then yesterday, for the first time, a nation – El Salvador – made bitcoin legal tender. The bitcoin price was steadily running up on the story – from $30,000 to $53,000. Then “Bitcoin Day” arrived and wallop: it sells off $7,000 to $46,000. The bitcoin price “should” have risen. It didn’t; it rose on the rumour and sold on the news.

How many times? It’s happened before and it will happen again.

How to bet on cryptocurrencies without having to own cryptocurrencies

Traditional investors have long been searching for a vehicle by which they can own bitcoin through their Sipp or Isa, via a regular broker account. The older generation in particular don’t want to get involved with wallets and keys and storing coins on hard drives in safes and all the rest of it. They just want to be able to buy and sell bitcoin through their regular broker, with which they are familiar.

In response to this demand there have been numerous attempts to establish bitcoin ETFs, but every attempt has run into some sort of regulatory issue. The most successful were probably the Greyscale Bitcoin Trust, listed in the US, or Coinshares Swedish listed XBT Bitcoin Tracker One. Neither is quite the same as owning bitcoin, but they do track the price.

But another vehicle has come to my attention and I thought I’d flag it up for you today, as I think it might be quite useful. That is the VanEck Vectors Digital Assets Equity UCITS ETF (LSE: DAGB).

It invests in companies that, to use its own lingo, “are driving the blockchain revolution”. That is to say in miners, exchanges, payment providers, service providers and companies that hold and trade crypto and crypto patents.

If I were to draw a parallel, I’d say that, rather than buying gold, it’s like holding a basket of gold mining companies or a gold mining ETF.

The ETF is listed in London, and it’s been going since the beginning of May. There’s a dollar denominated version whose ticker is DAPP – and a sterling version, which is probably most useful to us, with the ticker DAGB (there are also euro-denominated versions listed in Germany (DAVV) and Italy (DAPP), and a Swiss franc denominated version listed in Switzerland (also DAPP)).

It’s still small – very small – but as awareness grows it has the potential to grow too. It holds 25 companies in total, with 75%-plus weighting to the US and Canada and 12% to China, and it rebalances on a quarterly basis. I’ll post the holdings below, but in case you’re not familiar with them, I’ll outline what the major ones do. 

It’s biggest holding is Marathon Digital Holdings (Nasdaq: MARA) a Nasdaq-listed bitcoin miner. Then there’s Jack Dorsey of Twitter fame’s payment company Square (NYSE: SQ) and Coinbase (Nasdaq:COIN), the recently-listed wallet-provider and exchange

Other miners it owns include Riot (Nasdaq: RIOT), Hive (Vancouver: HIVE) and Argo (LSE: ARB), while other notable holdings include Silvergate (NYSE: SI), the bank for fintech and cryptocurrency businesses, and Michael Saylor’s Microstrategy (Nasdaq: MSTR). 

Saylor has in the past year totally got the bitcoin bug and become one of the most vocal and articulate cheerleaders for the space. His company, Microstrategy, has gone from being a software company to a bitcoin holding vehicle, owning more than $5bn in bitcoin. He’s raised debt to do it so it is a highly leveraged bitcoin play.

Anyway, here are the main holdings:

HoldingTickerSharesMarket value
(US$)
% of net
assets
Marathon Digital Holdings IncNasdaq: MARA37,8581,491,2279.15
Square IncNYSE: SQ5,3801,430,1658.77
Coinbase Global IncNasdaq: COIN5,0421,345,2568.25
Hut 8 Mining CorpToronto: HUT125,4231,261,6757.74
Silvergate Capital CorpNYSE: SI7,986947,2995.81
Microstrategy IncNasdaq: MSTR1,378892,9585.48
Hive Blockchain Technologies LtdVancouver: HIVE257,250857,1615.26
Voyager Digital LtdToronto: VOYG53,621799,9654.91
Riot Blockchain IncNasdaq: RIOT24,755794,8834.88
Bitfarms Ltd/CanadaVancouver: BITF128,704763,9734.69
Galaxy Digital Holdings LtdToronto: GLXY34,963732,1894.49
Taiwan Semiconductor ManufacturingNasdaq: TSM5,431677,2464.15
Canaan IncNasdaq: CAN64,785620,6403.81
Northern Data AgFrankfurt: NB26,290568,4983.49
Argo Blockchain PlcLSE: ARB288,705533,3123.27
Bit Digital IncNasdaq: BTBT45,480533,0263.27
Ebang International Holdings IncNasdaq: EBON157,795397,6432.44
BC Technology Group LtdHong Kong: 863179,501372,2122.28
Coinshares International LtdStockholm COIN26,030257,8651.58
Diginex LtdNasdaq: EQOS40,141222,3811.36
DMG Blockchain Solutions IncVancouver: DMGI201,595205,8231.26
Huobi Technology Holdings LtdHong Kong: 1611113,001204,9561.26
Bigg Digital Assets IncToronto BIGG183,875180,4551.11
Future Fintech Group IncNasdaq: FTFT58,088156,8380.96
Bitcoin Group SeFrankfurt: ADE1,22261,2300.38
Other/Cash-4,083-0.03

Bitcoin is supposed to be outside of the traditional financial system so it sounds funny saying that I own DAGB in my Sipp, but I do. I’m not, however, recommending that you go out and buy it straight away. I see it more as a useful vehicle to be aware of.

My overriding theory that we are in a period of “frustrating consolidation” for bitcoin remains in play, so I would try to wait for the sell off to get really harsh before you buy: buy the dips, as they say. But this should be a good vehicle to play the bitcoin game, should you see fit.

Regulating the unregulatable

In other news, I see that a bit of a crypto storm is now brewing in Brussels, where the European Parliament is about to try and regulate cryptocurrencies. Good luck with that! What could possibly go wrong when regulators are trying to regulate something they don’t understand, one of the purposes of which is to obviate bureaucracy?

The polling company Redfield and Wilton has run a poll and found that the overwhelming majority of Europeans want cryptocurrencies regulated by their own countries and not at the EU level, with many seeing EU regulation as a power grab. Greece, The Netherlands and Latvia are the most anti-EU regulation, while Spain and Portugal are the most pro. Make of that what you will.

Daylight Robbery – How Tax Shaped The Past And Will Change The Future is now out in paperback at Amazon and all good bookstores with the audiobook, read by Dominic, on Audible and elsewhere.

Dominic Frisby author headshot

By: Dominic Frisby

Source: https://moneyweek.com/

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The Maker Protocol: MakerDAO’s Multi-Collateral Dai (MCD) System

Digital Assets and Blockchain Technology: US Law and Regulation

What’s ‘Yield Farming’? (And How Do You Grow Crypto

Crypto Is Beating Gold as 2020’s Top Asset So Far

“Novogratz Plows Ahead In DeFi Amid the ‘Gamifying’ of Crypto

An Emergent Alternative Financial Architecture

Crypto Exchange Gets Millions After Copy-Paste of a Rival’s Code

MetaMask’s Blockchain Mobile App Opens Doors For Next-Level Web

Boom or bust? Welcome to the freewheeling world of crypto lending

DeFi Boom Makes Uniswap Most Sought-After Crypto Exchange

Boom or bust? Welcome to the freewheeling world of crypto lending


		

Ethereum Co-Founder Anthony Di Iorio Says Safety Concern Has Him Quitting Crypto

Anthony Di Iorio, a co-founder of the Ethereum network, says he’s done with the cryptocurrency world, partially because of personal safety concerns.

Di Iorio, 48, has had a security team since 2017, with someone traveling with or meeting him wherever he goes. In coming weeks, he plans to sell Decentral Inc., and refocus on philanthropy and other ventures not related to crypto. The Canadian expects to sever ties in time with other startups he is involved with, and doesn’t plan on funding any more blockchain projects.

“It’s got a risk profile that I am not too enthused about,” said Di Iorio, who declined to disclose his cryptocurrency holdings or net worth. “I don’t feel necessarily safe in this space. If I was focused on larger problems, I think I’d be safer.”

Back in 2013, Di Iorio co-founded Ethereum, which has become the home of many of the hottest crypto projects, particularly in decentralized finance — which lets people borrow, lend and trade with each other without intermediaries like banks. Ether, the native token of the network, has a market value of about $225 billion.

He made a splash in 2018 when buying the largest and one of the most expensive condos in Canada, paying for it partly with digital money. Di Iorio purchased the three-story penthouse for C$28 million ($22 million) at the St. Regis Residences Toronto, the former Trump International Hotel & Tower in the downtown business district.

In recent years, Di Iorio jumped into venture-capital investing and startup advising. He was also for a time chief digital officer of the Toronto Stock Exchange. In February 2018, Forbes estimated his net worth was as high as $1 billion. Ether’s price has more than doubled since then.

Decentral is a Toronto-based innovation hub and software development company focused on decentralized technologies, and the maker of Jaxx, a digital asset wallet that garnered about 1 million customers this year.

Di Iorio said he has talked with a couple of potential investors, and believes the startup will be valued at “hundreds of millions.” He expects to sell the company for fiat, or equity in another company — not crypto.

“I want to diversify to not being a crypto guy, but being a guy tackling complex problems,” Di Iorio said. He is involved in Project Arrow, run by a high-school friend that’s building a zero-emission vehicle. He is also consulting a senator from Paraguay.

“I will incorporate crypto when needed, but a lot of times, it’s not,” he said. “It’s really a small percentage of what the world needs.”

Source: Ethereum Co-Founder Anthony Di Iorio Says Safety Concern Has Him Quitting Crypto – Bloomberg

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Critics:

Anthony Di Iorio is a Canadian entrepreneur primarily known as a co-founder of Ethereum and an early investor in Bitcoin. Di Iorio is the founder and CEO of the blockchain company Decentral, and the associated Jaxx wallet. He also served as the first chief digital officer of the Toronto Stock Exchange. In February 2018, Forbes estimated his net worth at $750 million–$1 billion.

Di Iorio grew up with two older siblings in north Toronto, Ontario. He graduated with a degree in marketing from Ryerson University. Di Iorio began developing websites during the early 1990s, and eventually entered the rental housing market as an investor and landlord in Toronto, Ontario. In 2012 he sold his rental properties in order to invest in Bitcoin, and began to organize companies in the field of cryptocurrency.

He first learned about bitcoin from a podcast called Free Talk Live in 2012. According to The Globe and Mail, he “had an anti-authoritarian streak” and  questioned “the fundamentals of mainstream economics.” Di Iorio bought his first bitcoin the same day for $9.73. He created the Toronto Bitcoin Meetup Group which held its first meeting at a pub in the same year.

It was at this first meeting where he met Vitalik Buterin who went on to be the founder of Bitcoin Magazine and one of the original creators of Ethereum. As the Meetups grew from about eight attendees to hundreds, Di Iorio formed the Bitcoin Alliance of Canada.

References:

What’s The Deal With Bitcoin ATM and How Does A Bitcoin ATM Work?

What is a Bitcoin ATM, and does it actually function as an ATM? The short answer is yes.

Technically, these aren’t traditional ATM’s (Automatic Teller Machines) as they do not allow physical withdrawals of BTC from an account you own. Instead, these machines will enable you to purchase Bitcoin, depending on the specific machine. There are a number of machine types around from various companies, the top 3 being: General Bytes, Genesis Coin, and Lamassu.

  1. You verify your identity through an one-time-password sent to your mobile or email. Again, this varies from machine to machine.
  2. You decide if you want to buy or sell BTC (if you have the option).
  3. To buy, you must choose the amount you want to in terms of BTC or your target fiat currency.
  4. You then deposit the fiat currency into the machine.
  5. Several things may happen depending on the machine:
  • A QR code may appear on the screen for you to scan
  • A QR code may be printed off corresponding to your new BTC wallet.
  • The machine will ask and scan the QR code of your pre-existing wallet.
  • You input your email address to have a QR code sent to you.

To sell, you must send the appropriate amount of BTC to the address displayed on the screen. Once the transaction is confirmed, you will receive the agreed fiat sum. How long this takes depends on the machine.

Bitcoin ATM’s v.s Crypto Exchanges

Bitcoin ATM’s are connected to exchanges. When using one, you are essentially buying or selling your chosen coin on an exchange. However, you’re interacting with a physical machine in a specific location rather than online. The price difference between using an online exchange and an ATM is generally around 5-10%. This means that ATMs cost 5-10% more to buy, and selling means you receive 5-10%.

Despite the premium that must be paid, many are attracted by these machines’ convenience and ease. They allow for a more visual and straightforward financial transaction that most are already familiar with. In addition, machines do not require any confusing registration processes or the need to learn about online trading interfaces.

When selling through an online exchange like Phemex, the platform’s spot markets offer more control over the price you are transacting with. You can also take advantage of limit orders and stop orders if you are not happy with current market prices.

Bitcoin ATM Map

There are many services and locations apart from bitcoin ATMs which provide exchange of bitcoins for cash and vice versa.You can send cash-to-cash payments to your relatives or friends in other countries by using two bitcoin ATMs. Find where to buy or sell bitcoins and other cryptocurrencies through ATMs for cash here…

By:

Source: Bitcoin ATM’s: How Does A Bitcoin ATM Work? – Phemex Blog

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References

“FINTRAC Advisory regarding Money Services Businesses dealing in virtual currency”. Fintrac-canafe.gc.ca. Retrieved 2016-11-22.

Meet Lily The 3-Year-Old Girl Who Explains How Bitcoin Works With Sweets

Meet Lily, the 3-Year-Old Girl Who Explains How Bitcoin Works With Sweets

Lily, just 3 years old, has her own program in which she explains simple things to her followers on Facebook and Twitter (for now). In her fifth chapter, she explains how Bitcoin works with the help of sweet Skittles , her stuffed animals and of course, her parents.

She started Lily’s Show in August 2020, but on February 2 she posted a video of just over two minutes explaining the basics of Bitcoin , something that many adults still have doubts about.

The information is based on Michael Caras’ children’s book, ” Bitcoin Money: A Tale of Bitville Discovering Good Money.”

The little girl begins by saying that Bitcoin is “decentralized digital money!” In other words, it does not need a bank to exist, in addition to the fact that there are only 21 million of them in the world and it was created by Satoshi Nakamoto, whom he identifies as “a mystery”.

To explain how a transaction works, he uses wallets with sweets and pieces of wood, which represent bitcoin wallets and the blockchain . The various purses belong to her, her Teddy bear, a unicorn and Dolly, her stuffed animals.

In this way, each that a sweet ( Skittles ) passes from one bag to another, it represents a transaction that generates a piece of wood and when several of them are stacked it symbolizes the blockchain , which no one can see because it is anonymous.

Lily wonders “why is it so expensive?” . So he explains that it is because of the security he has; Money cannot be stolen, bank accounts cannot be hacked, only you have access with a 12-digit code, but if you lose it you are in “trouble” and you can lose all your money .

To finish little Lily takes off her glasses and tells her mother that she doesn’t need them to look smart, “silly mommy .” Besides mentioning that he loves bitcoins… and skittles .

Source: Meet Lily, the 3-Year-Old Girl Who Explains How Bitcoin Works With Sweets

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Bitcoin Price Prediction 2021: Where Is The Top?

JP Morgan is my friend, not the bank, but the Victorian banker. He said, “I’ve made a fortune selling too early” and as a bitcoin seller at $32,000 I invoke him as justification. Having said that, and I have stated this tactic in previous columns, I have done at least as well with about half the VAR (value at risk) by playing with the fire that is DeFi.

If you are using decentralized exchanges or keeping  tokens or passing them through your wallet, it is often hard to keep track of it all. It is even easy to forget what you have and where. However, there is a great app to keep tags on your ethereum and DeFi positions and it’s called Zerion. It is a tremendous tool for keeping a tally of what you have in the wild game of token trading and it’s free and you can log in using your wallet so there is no painful registration process. I am finding it indispensable.

Meanwhile I am now back in the same position as I was before I sold the bitcoin, of hanging onto my positions by my cuticles with a wildly undiversified and unbalanced portfolio that morphs by the day into a gloriously profitable but unmanageable series of extremely volatile positions. Leaving good investing and/or trading practice at the door is an extremely hazardous approach but it seems unavoidable to capture this rapture.

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In a matter of days I’ve gone from “buying all the things” to wanting to flee but that is purely because pretty much all DeFi, credible or otherwise, has gone on a massive vertical that dwarfs the performance of bitcoin and ethereum.

Here is one of my favorites that I hold and you can see why an old school equity guy, a value investor to boot, gets a nose bleed from this kind of price ascent:

One of my favorite DeFi tokesns, Matic, has gone vwertical
One of my favorite DeFi tokesns, matic, has gone vwertical Credit: ADVFN

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Matic, previously called polygon, is not a one-off, it is just a good example. The “why” of it is simple: Matic is a solution to many of the difficulties facing ethereum and its congestion: it is a seasoned project, it is linked to a lot of major players in Silicon Valley by investment, and it has a market cap of about $1 billion, 10% of a Bumble. In the current hepped up investment environment this is chump change and the winners in DeFi will go on to be worth $10-$100 billion, even without the printing press shifting the decimal point with inflation. Chainlink, the leader of the gang, is already nearing a $10 billion valuation. So this is not a ridiculous valuation if you grok that DeFi really is a revolutionary tech that will change everything, it’s just the price performance that makes an old investor’s nerve endings start shorting out.

All that aside, the key question once again is, is the market going up or down? Bitcoin down, all crypto down; bitcoin up, all crypto up. To me, I believe these price levels are the upper faces of this mountainous cycle, but many still consider them the foothills.

So what can help us know where we are? The all-seeing eye of Google can help. Here is a chart from Google Trends:

Google Trends shows interest in bitcoin, ethereum, DeFi and stocks
Google Trends shows interest in bitcoin, ethereum, DeFi and stocks Credit: Google

You can see how diagnostic Google trends is when you see the progress in search of the crypto hero of the day, doge, and can judge the rise and fall of the stock hoard of Reddit’s WallStreetBets.

Google Trends highlights the spike in interest in dogecoin when wallstreetbets got involved
Google Trends highlights the spike in interest in dogecoin when wallstreetbets got involved Credit: Google

Bitcoin is the leader and definer of this cycle and its performance will direct the performance of all the other cryptos. Musk’s bitcoin tweets are in the data for all to see.

Whether you are a BTC $1 million by Christmas prophet or a doubter expecting an imminent correction, this is a chart to watch because the price of bitcoin and ethereum is FOMO-driven and when that impulse passes, that will be the top for this cycle. FOMO, and we are now seeing corporate FOMO, is a powerful force but it is a acute one not a chronic one, so crypto will not ride the FOMO wave indefinitely.

There are a lot of extremely strong technical charts out there, so for now I’m hanging tough, but as we have seen before, as bitcoin gyrated between $30,000 and $40,000, these markets are fragile.

Volatility is liable to shake me out soon, but it could be days or weeks, perhaps even months before it does – but a week is now a long time in crypto and that in itself is a signal which one can choose to pay attention to.

The final indicator is transaction fees. These are now exorbitant. When they start to fall it will be a signal that the FOMO is falling and for now the only way transaction fees are going is skywards.

While I have to rise at 6:00 a.m. to get reasonable transaction fees before the rest of the world wakes up, I’m going to be holding on.

Good luck everyone. Enjoy the vertical.

—-

Clem Chambers is the CEO of private investors website ADVFN.com and author of 101 Ways to Pick Stock Market Winners and Trading Cryptocurrencies: A Beginner’s Guide.

Chambers won Journalist of the Year in the Business Market Commentary category in the State Street U.K. Institutional Press Awards in 2018. Follow me on Twitter or LinkedIn. Check out my website.

Clem Chambers

 Clem Chambers

I am the CEO of stocks and investment website ADVFN . As well as running Europe and South America’s leading financial market website I am a prolific financial writer. I wrote a stock column for WIRED – which described me as a ‘Market Maven’ – and am a regular columnist for numerous financial publications around the world. I have written for titles including: Working Money, Active Trader, SFO and Technical Analysis of Stocks & Commodities in the US and have written for pretty much every UK national newspaper. In the last few years I have become a financial thriller writer and have just had my first non-fiction title published: 101 ways to pick stock market winners. Find me here on US Amazon. You’ll also see me regularly on CNBC, CNN, SKY, Business News Network and the BBC giving my take on the markets.

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BitBoy Crypto

The Winklevoss Twins have doubled down on their $500,000 dollar Bitcoin prediction. Banking giant, Citi, has said they believe the Bitcoin price is heading toward $318,000 by the end of this year. JP Morgan says $650k is possible. The stock to flow chart for Bitcoin shows a $290,000 dollar Bitcoin. There are a ton of predictions out there and it’s hard to make sense of these numbers. It’s hard to know who is talking about the price a year from now and who is talking about a price 10 years from now.

But one thing is almost guaranteed. We are very far away from the peak of this bull run. In today’s video, I’m going to give you my new Bitcoin prediction and why I’ve had to upgrade this Bitcoin rally from bullish to ULTRA bullish. After HOURS of examining charts and cycles, I’ve come up with this brand new prediction. I’ll go over my original Bitcoin prediction and evaluate how it worked out.

At the end of this video, I’ll tell you EXACTLY where I think the Bitcoin price will settle. 0:00​- Intro 1:52​- Original Prediction 3:51​- 2017 vs Now 8:36​- Stock to Flow 8:49​- My New Prediction Trade with ByBit ➡️ https://ByBit.BitBoy.Live​ Connect with Me & the BitSquad! Join the BitSquad ➡️ http://t.me/BitSquad​ Join the BitBoy Lab ➡️ http://discord.BitBoy.Live​ Join BitSquad Traders ➡️ http://t.me/BitSquadTraders​ Join Me on Twitter ➡️ https://twitter.com/Bitboy_Crypto​ Join Me on Instagram ➡️ https://www.instagram.com/bitboy_crypto​ Join Me on TikTok ➡️ https://www.tiktok.com/@factsceo​ ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● Best Crypto Products Buy My BitBoy Collectibles ➡️ https://app.rarible.com/bitboy​ Get $25 for Free with a CRO Card ➡️ http://CROcard.BitBoy.Live​ Best Hardware Wallet ➡️ http://Ledger.BitBoy.Live​ Deep Coin Research ➡️ TM.BitBoy.Live ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● All of our videos are strictly personal opinions. Please make sure to do your own research. Never take one person’s opinion for financial guidance. There are multiple strategies and not all strategies fit all people. Our videos ARE NOT financial advice.

Money Is Changing. Here Are the 3 Most Important Ways It’ll Affect the Future of Your Wallet

1

For my upcoming book “Financially Forward,” I’ve read every cryptocurrency-related text I can get my hands on, watched dozens of videos and interviewed countless leading entrepreneurs — all with an eye toward taking a balanced, informed approach to the possibilities ahead.

It’s easy to over-exaggerate the potential of blockchain. But, the technology behind crypto-currencies such as Bitcoin has the potential to drive significant social shifts.

Here’s a closer look at what this may mean for our wallets.

1. No More Middlemen

Today, when it comes to managing our money (or processing just about any transaction), middlemen abound. There are banks, credit card processors, payment platforms, stock exchanges — the list goes on. Everywhere you look, entities are standing between both sides of every transaction we carry out. And in many cases, one or more of them is taking a cut or charging a fee.

Take a credit card transaction, for example. Your credit card issuer (e.g., Chase) and payment processing network (e.g., Visa) manages the transaction. The store where you make a purchase uses a point of sale system (e.g., Square) and pays a transaction fee. That’s a lot of cooks in the kitchen for a straightforward exchange of funds to buy something simple like a coffee.

With blockchain, those middlemen could disappear. One of blockchain’s main features is that it’s decentralized — meaning that you can transact directly with the producer of the item you want to buy, no bank or credit card needed. Transaction fees are no longer a part of the equation. Think about how much money that could put back in your wallet! And more importantly, how much this simplifies the transactions we make — giving us more clarity into where our dollars go.

2. Smart Contracts

Today, executing a contract is a rigorous process that involves lawyers and headaches. Think about buying a house. You have brokers, real estate and bank lawyers, the deed company — the closing process involves a ton of people, and mountains of paperwork (and of course, legal fees).

But blockchain can eliminate just about all of it. You don’t need all of those records and documents; the blockchain stores all the information. Buying something like a house becomes seamless. Contracts can be automated and direct. By reducing the time it takes to buy and sell, property can suddenly become a more liquid and accessible asset for consumers, pushing transaction costs down, and allowing consumers to more easily tap into their home equity.

Blockchain, in other words, takes power out of the hands of institutions and puts it into the hands of the consumer.

3. A More Secure, More Streamlined Wallet

It’s no surprise that so many people fall victim to credit card fraud. We all know that if someone walks into a store and tries to buy something with your credit card, the cashier barely glances at the name on the card, let alone the signature. The company might assume something is fishy and send you a fraud alert — or perhaps you check your statement a week later and notice that something is wrong. All told, it takes days for a transaction to be tracked and verified as fraudulent, another day or two for your new card (to replace the one you had to cancel) to arrive.

But all of that could be streamlined with blockchain. Because transaction records are permanent and immutable, there isn’t a question about who is involved in a transaction.

With blockchain, our phones could store not just our credit cards and passwords, but our medical records and our prescriptions, and even the “keys” to our car and home. Your identity will be fundamentally managed in one spot.

Once these disruptions start to change the way we as individuals interact with money, the next phase will be disruption across industries and society.

But while blockchain holds the potential to put more and more power into the hands of individuals, that doesn’t mean it’s going to be easy. These new technologies are endlessly complex — but the possibility for innovation is endless, too.

By Alexa von Tobel

Source: https://www.inc.com

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It’s not about how much money you earn. It’s what you do with the money that matters. In this video, I’m going to show you a business strategy on how to manage your money. I’m not gonna tell you what to invest in. That’s not my role. Here are the best ideas of what the best professionals do to manage their money. Learn more from Tom LIVE at the next Summit event: https://tfi.media/2UC21rg

10 Great Tips for Practicing Safe DEX With Binance Chain

 

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This article provides several tips for using Binance DEX more safely. Before we start, it is important to bring your attention to something pointed out by Binance Academy in its tutorial for creating a Binance DEX wallet: As a Binance DEX user, you will hold full custody of your funds. No one, not even Binance will be able to help you recover your wallet if you lose your private key, mnemonic phrase or keystore file. After you create a wallet, Binance DEX will generate the following for you:

  • A Keystore File (encrypted & password protected)
    • “A keystore file contains your private key along with your public key and address (both of which are derived from your private key). This file is encrypted and password protected. This is the recommended way to access your wallet if you do not have access to a supported hardware device.”
  • A Mnemonic Phrase
    • “A mnemonic phrase is generated based on a BIP39 word list – this phrase allows you to access your wallet, but should not be used regularly. It is recommended you only use your mnemonic phrase as a backup.”
  • A Private Key
    • “This allows you to access your wallet, but should not be used regularly. It is recommended you only use your private key as a backup.”

The following security tips are from a post by user “Binance Chain Assistant” on the Binance community forum:

  • “Do not share your mnemonic phrase with anyone.”
    • Nobody from Binace will ever be asking you to tell them your mnemonic phrase. Anyone you share this phrase with will be able to take control of your funds, and neither the Binance Chain validators nor anyone from Binance (not even CZ himself) will be able to get your funds back.
  • “Do not store your mnemonic phrase in unsafe places such as email or unencrypted text file or excel spreadsheet.”
    • If your ever lose control of your email account or your device, you could lose your funds if you have stored your mnemonic phrase in an unencrypted form.
  • “Do not lose/forget your mnemonic phrase.”
    • As Binance points out, it is vital that you store your mnemonic phrase somewhere really safe and to realize that if you ever lose/forget your mnemonic, nobody will be able to help you recover it.
  • “Do not use mnemonic phrase to unlock your wallets”
    • This is so that you do not lose your mnemonic phrase because of some phishing website/app. It is much safer to use either Trust Wallet or a hardware wallet (such as Ledger Nano S) to unlock your wallet.
    • Although the Binance DEX website’s current “Unlock Your Wallet” page gives four ways to unlock your wallet, including via mnemonic phrase, this option will be removed in the future, and you will then only be able to use the mnemonic phrase for Keystore file recovery.
  • “Do not send your fund to unverified addresses.”
    • That’s because real “giveaway” campaigns, unlike scam operations, do not need to ask you to send funds first to any particular address.
  • “Do not use SDK or Trading Bots that are not 100% trusted.”
    • This is important because “you may have to input your private key into the libraries or the software” and therefore your private key could become compromised. The alternative approach of using a signing service is much safer.
  • “Do not issue/list your assets with mnemonic phrase.”
    • You should either (a) use a hardware wallet for signing transactions; or (b) use an offline device to generate the signed transactions and then broadcast them via another internet-connected device.
  • “Do not believe in any proactive emails from Binance DEX you receive.”
    • That’s because Binance DEX does not have an official customer support team. And you will not be receiving any emails from the Binance Chain development team either.
  • “Use separate wallets/addresses for trading and long term storage”
    • For long term storage of large assets, it makes sense to use “a hardware wallet or mobile wallet which you don’t access often.”
  • “Stick to the best practices to use Internet safely”
    • Some examples of such best practices are making sure that the device you are using for accessing Binance DEX has the latest version of the operating system, that you are using the latest version of the browser for accessing the Binance DEX website or the latest version of the wallet app providing the interface to Binance DEX, that you are not using any untrusted browser extensions, and that you do not click on links/attachments in unverified emails.

Source: CryptoGlobe

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Critics:

Binance DEX (launched in 2019) is a decentralized exchange (DEX) built on Binance Chain that allows exchanging digital assets issued and listed on it. The matching happens within the blockchain nodes and all of the transactions are recorded on-chain, therefore forming a complete, auditable ledger of activity.

Binance was co-founded by Chinese software developer and entrepreneur, Changpeng Zhao, popularly known as CZ, and Yi He. The other notable members include Ted Lin (CGO), Catherine Coley (CEO, Binance US), Jarred Winn (Senior VP), Gleb Kostarev (CIS and Eastern Europe, Russia), Jiho Kang (South Korea), and Erick Zhang (MD). 
Binance was founded in China, but due to China’s regulation of cryptocurrencies, it moved its servers and operations in Japan in 2017 and then to Malta in early 2018.
 
Binance Holding Ltd has raised a total of $25 million USD in funding over 7 rounds so far. The investor list includes some well-known identities and firms like Edith Yeung, Janse Capital, Chris McCann , Plutus21, Black Hole Capital , Funcity Capital , Sequoia Capital, Limitless Crypto Investments , Fundamental Labs and Vertex Ventures.
After two months of testnet period involving nearly 8.5 million transactions across a simulated trading competition, coding competition, bug bounty program and new updates and enhancements, the first version of mainnet was released on April 23, 2019.
 
The mainnet was released along with the launching of Binance Smart Chain and so Binance Coin (BNB) migrated from ERC20 standards to BEP-2 to become the native asset on Binance Chain, and also Binance DEX, where it is used as base token to assist network transactions. The users were allowed to create wallets using Binance official Trust Wallet and also third-party wallets like Enjin Crypto Wallet, Magnum Wallet, Coinomi Wallet, Atomic Wallet, ZelCore Wallet, Infinito Wallet, Math Wallet, Ellipal Wallet, Guarda Wallet, Exodus Wallet, and also hardware wallets, Ledger and CoolWallet. The users also gained access to the Binance Chain Explorer, web wallet, public data nodes and APIs, but actual trading began later.
 
genesis

Nonspendable Bitcoin Addresses – Is It Real or Just Used For Scam

A watch-only wallet, as the name suggests it is just a Bitcoin wallet that is used for watching only. A watch only address doesn’t have private keys and you’ll not be able to spend any Bitcoins associated with that address. It is used only to view the balance and monitor the transaction activity of a particular wallet address.

That is called a ‘watch-only’ address in your wallet, meaning you can only watch it, but not spend the coins held by it. The Bitcoin blockchain is an open database, so anybody can watch any address they want to.

From this, it sounds like the scammer had access to your account in the past. If this is true, then your account is 100% compromised, there is no way to make it secure again. Make a new wallet, move all funds to it, and do no ever use that account again.

The reason you MUST abandon that wallet is that while logged in, the scammer likely copied down your wallet’s mnemonic seed phrase (a series of 12 or 24 words). With that seed phrase, they can recreate your wallet on a different device, or using different software.

The seed phrase is the current industry standard for making a wallet backup, it is used to derive your bitcoin private keys and addresses. The password/2FA are just used to unlock your ‘blockchain.info‘ account (which has used that seed phrase to create your wallet), so if you put the same seed phrase into a different device, it will recreate your wallet, without needing a password (since blockchain.info isn’t involved at all).

blockchain watch only wallet

The only way, would be to find the person who does own that private key, and ask them for it (but they probably won’t give it to you). The scammer is likely trying to ‘sell you the private key’, or ‘unlock it’, or some other nonsense. That is the scam, so please beware and do not send any more BTC to them.

In the future, do NOT EVER give your wallet details, login, passphrase, seed phrase, 2FA, private keys, etc, to anyone that you do not trust 100%. If you ignore this warning, you are much more likely to have your bitcoins stolen.

Whichever wallet it is Paper wallet, core wallet or electrum wallet. Whenever you generate a new wallet address a private key is also generated along with it. If you find a watch only address in your wallet then you are the one who imported it. So you must first find out the private keys of that address. For electrum wallet read this guide and for core wallet read this to know how to export private keys. Once you have the private keys you can import them to your wallet and spend its funds.

This guide is not about watch only wallet but to show you the importance of your private keys. What you must remember is if you don’t own the private keys you don’t own the funds. So keep your keys safe and whenever you create a watch only wallet remember to back your original wallet because watch-only wallets don’t have access to private keys. One last thing: Do not provide your private keys to anyone and do not import them to any online service (Including blockchain.com). Once you expose the private keys your wallet security will get compromised.

If you really wanted to have a safe and paying company to fill you up with crypto currencies profit you can refer to Finance Current with over two million customers around the world. They are acceptable by SEC and other financial services…

By: Finance Current Investment Pilot

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Ledger, Legacy Trust to Offer Institutional Custody of ERC-20 Tokens

Cryptocurrency hardware wallets maker Ledger and Hong Kong-licensed trust and custody company Legacy Trust have partnered to provide “institutional-grade” cryptocurrency custody.Revealing the news exclusively to CoinDesk on Thursday, the two firms said the solution is aimed to increase the security

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Why Investing In Mining Servers Is Better Than Keeping Bitcoin in a BTC Wallet

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