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What are Atomic Swaps, part 1

Posted on by 4C-Trading

Let’s take a look at one of the late big inventions of crypto blockchains that can really simplify procedures for all crypto users.
We will start with a simple definition: it is a smart contract technology that enables the exchange of one cryptocurrency for another without using centralized intermediaries, such as exchanges.
Atomic swaps can happen straightforwardly between blockchains of various cryptos, or they can be directed off-chain, away from the fundamental blockchain. They initially became a force to be reckoned with in September 2017, when an atomic swap between Decred and Litecoin was performed.
From that point forward, different new businesses and decentralized exchanges have permitted clients a similar service. For instance, Lightning Labs, a startup that utilizes BTC lightning network for transactions, has performed off-network swaps utilizing the invention.
Many altcoins and DEXes (decentralized exchanges) have already joined the party.

Atomic Swaps Explanation

As it happens today, the procedure for exchanging cryptos is tedious and complex. This is because of a few reasons. For instance, the divided idea of the present crypto ecosystem presents a few difficulties to average investors.
Not all digital currency exchanges bolster all coins. All things considered, an investor wishing to trade one coin for another that isn’t bolstered on the present exchange may need to relocate funds or make a few transactions between a few exchanges to achieve the objective. There is additionally a related counterparty risk if the investor wishes to trade the coins with another merchant.
Atomic swaps take care of this issue using Hash Timelock Contracts (HTLC). As its name means, HTLC is a smart contract between parties that generates cryptographic hash work, which can be confirmed between them.
Atomic swaps require the two sides of the deal to recognize receipt of assets inside a predetermined time span utilizing a cryptographic hash work. In the event that one of the included parties fails to affirm the transaction in the given time period, the whole exchange is voided, and funds are not traded. The last activity helps evacuate counterparty hazard.
Here is an example:
Let us assume Bernard wishes to exchange over 10 BTC into ETH with Julie. Bernard starts the transaction in the bitcoin’s blockchain. During this procedure, Bernard produces a number for a cryptographic hash to encrypt the transaction. Julie does the same with the equivalent of ETH in the Ethereum blockchain.
Both Bernard and Julie unlock their funds utilizing their separate numbers. They need to do this inside a predefined time period or else the transaction won’t occur.
Atomic swaps can likewise be utilized offline with the help of a lightning network.
In this first part of our article, you found out what Atomic Swaps are and how to explain it to a friend easily. A follow-up article that sheds light on their pros and cons is coming to you next week.
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DeFi aka Decentralized Finance. Part 2

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The DeFi protocols prospects

As DeFi solutions continue to grow while bringing about financial inclusion and empowerment, here is a look at the sectors where DeFi is flourishing in 2020.
Episodes, for example, like the worldwide monetary crisis of 2008 feature genuine shortcomings in the conventional worldwide money system. DeFi is rising as a tasteful answer for a substitute future to the customary monetary area.
Truth be told, past the fund part, DeFi can possibly expand development just as improve operational efficiencies in different manners. As DeFi applications enlarge across various divisions and ventures, an ever increasing number of speculations are consistently filling the DeFi ecosystem.
The DeFi ecosystem has to a great extent been populated by Ethereum-based protocols because of its initial beginnings at the last part of 2018 with the dispatch of MakerDAO. In any case, greater decent variety is in progress as the area develops and increments in liquidity.
DeFi’s applications have created a significant ruckus in the standard space for their ability for empowering numerous efficiencies – from decentralized credit and loaning systems, asset management and predictions markets, to name just a few. As DeFi arrangements keep on developing while at the same time achieving money related incorporation and strengthening, here is a glance at the divisions where DeFi is prospering in 2020.

Borrowing & Lending

Open loaning procolos are one of the most well-known use cases that are a piece of the DeFi environment. Open, decentralized borrowing and lending have numerous favorable circumstances over the conventional credit system. These incorporate instantaneous transaction systems, the capacity to collateralize digital assets, no credit checks, and potential institutionalization later on.
Since these lending administrations are based on open blockchains, they limit the measure of trust required and have the affirmation of cryptographic confirmation strategies. Lending commercial centers on the blockchain decreases counterparty hazard, makes obtaining and loaning less expensive, quicker, and accessible to more individuals.

Monetary banking services

As DeFi applications seem to be, by definition, money related applications, financial administrations are a conspicuous use case for them. These can incorporate the issuance of stablecoins, mortgages, and insurance.
As the blockchain business is developing, there is an expanded spotlight on the making of stablecoins. They are a sort of crypto-asset that is generally pegged to a genuine resource however can be moved effortlessly. As cryptocurrencies can vacillate quickly now and again, decentralized stablecoins could be received for regular use as advanced money that isn’t given and observed by a focal authority.
Generally on account of the quantity of middle-men waiting be included, the way toward getting a mortgage is costly and tedious. With the utilization of smart contracts, endorsing and lawful charges might be decreased altogether.
Insurance on the blockchain could dispense with the requirement for middle-men and permit the appropriation of hazard between numerous members. This could bring about lower premiums with a similar nature of administration.

Decentralized Marketplaces

This class of applications may be difficult to estimate, as it is the portion of DeFi that gives the most space for financiary advancement.
Ostensibly, the absolute most significant DeFi applications are decentralized exchanges (DEXes). These platforms permit clients to exchange digital assets without the requirement for a trusted party to hold their assets. The trades are made straightforwardly between client wallets with the assistance of smart contracts.
Since they require considerably less upkeep work, DEXes regularly have lower trading fees than centralized exchanges.
Blockchain technology may likewise be utilized to issue and permit responsibility for a wide scope of traditional financial instruments. These applications would work in a decentralized manner that removes middle-men and disposes of single purposes of failure.
Security token issuance platforms, for instance, may give the devices and assets to guarantors to emit tokenized securities on the blockchain with adaptable parameters.
Different projects may permit the making of derivatives, synthetic assets, decentralized prediction markets, and some more.
source: Coinbase, Binance
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DeFi, aka Decentralized Finance. Part 1

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What is DeFi?

Decentralized Finance (DeFi) is the movement that leverages decentralized networks to transform old financial products into trustless and transparent protocols that run without intermediaries.
Crypto’s mission is to bring in payments generally open and accessible to anybody, regardless of their place of residence.
The Decentralized Finance (DeFi) development makes that mission one step further. Envision a worldwide, open alternative in contrast to each money related service you use today — reserve funds, credits, savings, loans, money exchange, trading, insurance (and that’s only the tip of the iceberg) — available to anybody on the planet with a cell phone and online connection.
That is currently conceivable on blockchains with smart contracts implementation, like Ethereum. “Smart contracts” are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the contracts contained therein exist across a distributed, decentralized blockchain network. The code controls the execution, and transactions are trackable and irreversible. These brilliant agreements empower developers to create more refined features than basically sending and getting cryptocurrencies. These projects are what we presently call decentralized applications or dapps.
You can think about a dapp as an application that is based on decentralization, instead of being created and monitored by a solitary, unified individual, entity, or organization.
While a portion of these ideas may sound too advanced – like loans haggled straightforwardly between two outsiders in various locations of the world, without a bank in the center – a considerable amount of these dapps are as of now live today. There are DeFi dapps that permit you to make stablecoins (digital money whose worth is pegged to the US dollar), loan out cash and acquire interests on your crypto, apply for a new line of credit, trade one asset for another, go long or short on assets, and execute computerized advanced speculation procedures.

What makes these DeFi dapps different from their conventional bank or Wall Street equivalents?

  • An institution and its employees do not control these businesses — instead, the guidelines are written in code (or smart contract, as referenced previously). When the smart contract is sent to the blockchain, DeFi dapps can run themselves with almost no human mediation (although practically speaking, designers frequently keep up the dapps with overhauls or bug fixes).
  • The code is transparent on the blockchain for anybody to review. That manufactures another sort of trust with clients since anybody has the chance to comprehend the contract’s usefulness or discover bugs. All transactions are likewise open for anybody to see. While this may bring up protection issues, transactions are pseudonymous as a matter of course, for example, not attached straightforwardly to your genuine personality.
  • Dapps are designed to be global from the beginning — whether you’re in Monaco or Zambia, you have access to the same DeFi services and networks. Local regulations may apply, but, technically speaking, most DeFi apps are available to anyone online.
  • “Permissionless” to create, “permissionless” to participate — anyone can develop DeFi apps, and anyone can make use of them. Unlike finance today, there are no intermediaries or accounts with lengthy forms. Users interact directly with the smart contracts from their crypto wallets.
  • Flexible user experience — don’t like the interface to a specific dapp? No problem — you can use a third-party interface, or build your own. Smart contracts are like an open API that anyone can build an app for.
  • Interoperable — new DeFi applications can be built or composed by combining other DeFi products like Lego pieces — e.g., stablecoins, decentralized exchanges, and prediction markets can be connected to form entirely new products.

DeFi is currently one of the quickest developing divisions in crypto. Industry eyewitnesses measure footing with an exceptional new measurement — “ETH secured DeFi.” At the hour of composing, clients have saved over $600 million worth of crypto into these smart contracts.

What is the DeFi potential, though? Stay tuned for the second part coming soon.

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How Bitcoin works, part 4

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In the previous part, you learned what Bitcoin hashes are. Now, let’s move to the last aspects.

Bitcoin Transactions

For most people taking part in the Bitcoin system, the intricate details of the blockchain, hash rates and mining are not especially pertinent. Outside of the mining network, Bitcoin proprietors for the most part buy their digital currency supply through a crypto exchange. These are online platforms which encourage trading of Bitcoin and, regularly, other cryptos called altcoins.
Crypto exchanges unite participants from around the globe to purchase and sell digital currencies. These exchanges have been both progressively famous (as Bitcoin’s fame itself has developed as of late) but they also have to face administrative, lawful and security challenges. With governments around the globe seeing cryptos in different manners the guidelines overseeing the purchasing and selling of cryptos are mind boggling and continually evolving. However, it is possible that for Bitcoin traders online theft and other hacking incidents are more significant than the danger of ever-changing administrative regulations. While the blockchain itself has to a great extent been secure since its commencement, singular exchanges are not really the equivalent. Numerous burglaries have focused on prominent digital exchanges, customarily bringing about the loss of a huge number of dollars worth of tokens. The most well known trade robbery is likely Mt. Gox, which overwhelmed the Bitcoin exchange space up through 2014. Right off the bat in that year, the stage reported the likely burglary of approximately 850,000 BTC worth near $450 million at that point. Mt. Gox declared financial insolvency and covered its entryways; right up ’til the present time, most of that stolen Bitcoins (which would now merit an aggregate of about $8 billion) has not been recouped.

Keys and Wallets

Hence, it’s reasonable that Bitcoin dealers and proprietors will need to take any conceivable safety efforts to ensure their property. To do as such, they use keys and wallets.
Bitcoin proprietorship basically comes down to two numbers, a public key and a private key. Perceive it as a username (public key) and a password (private key). A hash of the public key called an address on the blockchain. Utilizing the hash gives an additional layer of security.
To get bitcoin, it’s sufficient for the sender to know your address. The public key is created from the private key, which you have to send bitcoin to another address. The blockchain makes it simple to get crypto yet requires verification to send it.
To get to bitcoin, you utilize a wallet, which is a lot of keys. These can take various structures, from outside web applications offering protection and credit cards, to QR codes imprinted on bits of paper. The most significant differentiation is between “hot” wallets, which are online in the web and in this manner powerless against hacking, and “cold” wallets, which are kept offline. In the Mt. Gox case above, it is thought that the majority of the BTC taken were taken from a hot wallet. In any case, numerous clients endow their private keys to digital currency exchanges, which basically is an assumption that those exchanges will have more grounded safeguard against the chance of robbery than one’s own PC.
Therefore, remember this line: “If you don’t have control over your Bitcoin/don’t have your private keys, it is not your Bitcoin anymore.”
And there you go, you have learned the basics of Bitcoin and Blockchain. Now, it would be good that you used this newly-acquired expertise to your advantage. 
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How Bitcoin works, part 3

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In the second part, you learned what Bitcoin mining is. Now, let’s move to the hashes.

Hashes

When Ghash.io, a mining pool, reached 51% of the network’s computing power in 2014, it voluntarily promised to not exceed 39.99% of the Bitcoin hash rate in order to maintain confidence in the cryptocurrency’s value. Other actors, such as governments, might find the idea of such an attack interesting, though.
We will start with an increasingly technical portrayal of how mining functions. The system of miners, who are dissipated over the globe and not bound to one another by proximity or family ties, gets the most recent clump of transaction information. They run the information through a cryptographic algorithm that produces a “hash,” a series of numbers and letters that check the data’s legitimacy, however, it doesn’t uncover the data itself. (This perfect vision of decentralized mining is not valid anymore, with modern scale mining farms and ground-breaking mining pools framing an oligopoly.)
Mining is rigorous and exhaustive, requiring enormous, costly equipment and a ton of power to control them. Furthermore, it’s serious. It’s impossible to tell what nonce will work, so the objective is to drive through them as fast as could be achieved.
Miners figured out that they could improve their odds by consolidating into mining pools, sharing computing power and dividing the prizes up among themselves. Even if numerous miners split these mining rewards, there is an as yet abundant motivator to seek after them. Each time another block is mined, the fruitful miner gets a lot of recently made bitcoin. From the start, it was 50, yet then it split to 25, and now it is 12.5 (about $119,000 in October 2019). It will be halved again in May 2020.
The mining reward will keep on splitting every 210,000 blocks, or about at regular intervals until it hits zero. By then, each of the 21 million bitcoins will have been mined, and miners will rely entirely upon transaction fees to keep up the system. When Bitcoin was propelled, it was arranged that the absolute supply of the cryptocurrency would be 21 million tokens.
The way that miners have composed themselves into pools stresses a few. In the event that a pool surpasses half of the system’s mining power, its individuals might spend coins, invert the transactions, and spend them once more. They could likewise hinder others’ transactions. Basically, this pool of miners would have the ability to overpower the appropriated idea of the system, confirming deceitful transactions by the righteousness of the dominant part power it would hold.
That could spell doom on Bitcoin, however even a purported “51% attack” would most likely not empower the terrible on-screen characters to invert old transactions, in light of the fact that the proof of work necessity makes that procedure so work concentrated. To return and change the blockchain, a pool would need to control such a vastly larger part of the system that it would most likely be futile. When you control the entire cash, who is there to trade with?
A 51% assault is a monetarily self-destructive suggestion from the miners’ point of view. However, different parties, for example, governments, may consider the possibility of such an assault intriguing.
We will stop here for now. We will discuss transactions, keys, and wallets in the last part coming soon.
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How Bitcoin works, part 2

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In the first part, you learned what Bitcoin is and how to understand Blockchain. Now, let’s move to the blockchain.

The Blockchain 

Bitcoin is a system that utilizes a protocol known as the blockchain. A 2008 paper by an individual or individuals calling themselves Satoshi Nakamoto first depicted both the blockchain and Bitcoin and for some time the two terms were everything except synonymous.
The blockchain​ has since advanced into a different idea, and a huge number of blockchains have been made utilizing comparable cryptographic procedures. This history can make the terminology befuddling. Blockchain now and then alludes to the first, Bitcoin blockchain. On different occasions, it alludes to blockchain innovation all in all, or to some other explicit blockchain, for example, the one that powers Ethereum​.
The idea of blockchain innovation is clear. Any given blockchain comprises of a solitary chain of discrete blocks, orchestrated sequentially. On a basic level, this data can be any series of 1s and 0s, which means it could incorporate messages, contracts, land titles, marriage testaments or security exchanges. This adaptability has gotten the attention of governments and private enterprises; for sure, a few examiners accept that blockchain innovation will, at last, be the most significant part of the cryptographic money era.
For Bitcoin’s situation, however, the data on the blockchain is for the most part transactions.
Bitcoin is only a registered ledger of entries. Individual A sent X bitcoin to individual B, who sent Y bitcoin to individual C, and so on. By counting these transactions up, everybody knows where singular clients stand, what was sent, when it was done, etc. It is important to understand that those transactions/entries can not be erased/altered once in the blockchain (there are some new blockchains that try to take a different approach here though).
Another name for a blockchain is a “distributed ledger,” which accentuates the key distinction between this innovation and a well-kept Word report. Bitcoin’s blockchain is distributed, implying that it is publicly open. Anybody can download it completely or go to any number of locales that parse it. This implies the record is freely accessible, yet it additionally implies that there are convoluted measures set up for updating the blockchain history. There is no focal position to monitor all bitcoin transactions, so the members themselves do as such by making and confirming “blocks” of transaction information. (more on that in the Mining section). Bitcoin is incredibly hard to mess with as it has no physical presence, so you can’t secure it by burying in the wild.

Mining

The procedure that keeps up this trustless open record is known as mining. It allows all of the Bitcoin system to be maintained, for example,  clients who trade cryptocurrencies among themselves must rely on a system of miners, who record these transactions on the blockchain. Just like everything on the blockchain, it has to be supported by miners.
Recording a series of transactions is unimportant for a cutting edge PC, yet mining is troublesome on the grounds that Bitcoin’s product makes the procedure falsely tedious. Without additional trouble, individuals could fake transactions to profit themselves or bankrupt others, for instance, they could log a fake transaction in the blockchain and heap such a large number of inconsequential transactions over it that unraveling the scam would get impossible.
It is therefore extremely difficult to embed fake transactions into past squares. The system would turn into rambling, malicious wreckage of contending records, and bitcoin would be useless.
Consolidating “proof of work” with other cryptographic systems was Satoshi’s achievement. Bitcoin’s software modifies the trouble miners face so as to constrain the system to one new 1-megabyte square of exchanges at regular intervals. That way the volume of transactions is absorbable. The system has the opportunity to vet the new square and the record that goes before it, and everybody can reach a consensus about business as usual. Miners don’t work to check transactions by adding blocks to the distributed record/blockchain simply out of a longing to see the Bitcoin system run easily; they are paid for their work too. Let’s discuss the mining rewards underneath.
We will stop here for now. We will discuss blockchain, mining, hashes and keys/wallets in the second part coming soon.
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How Bitcoin works, part 1

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Bitcoin and Blockchain are taking the world by storm. It’s been over 10 years since its inception and the price of Bitcoin even hit 20 000 USD once. It is already sitting again at 10 000 USD and it’s preparing for the next run. If you are new to that, you might want to educate yourself on what really that Bitcoin is.
Before we start discussing Bitcoin, a few points to start with:

  • Bitcoin is a digital currency (It does not have a physical form), a sort of a decentralized system that stores transactions in a distributed ledger also called a blockchain. Once something is written into the blockchain, it cannot be altered or reverted or deleted.
  • Bitcoin miners (individuals responsible for creation and maintenance of it) run complex computer rigs to solve complicated mathematical equations in an effort to confirm groups of transactions called blocks. Once they succeed, these blocks are added to the blockchain record and the miners are rewarded with a small number of bitcoins.
  • Other users market can purchase or sell Bitcoins through many cryptocurrency exchanges or even face to face (Over The Counter)
  • The Bitcoin ledger is protected against fraud via a trustless system; Bitcoin exchanges also defend themselves against potential hacks, but high-profile attacks have occurred and sometimes succeeded.

How to define Bitcoin? Is it a currency, a payment network, a fad, an asset class or a store of value? Or all the above?

It also is the most successful of hundreds of attempts to create virtual money through the use of cryptography, the science of making and breaking codes. Bitcoin has inspired hundreds of imitators, but it remains the largest cryptocurrency by market capitalization, a distinction it has held throughout its decade-plus history.
Bitcoin is a digital currency made in January 2009. It follows the thoughts set out in a whitepaper by the strange and anonymous designer Satoshi Nakamoto, whose genuine personality still can’t seem to be confirmed. Bitcoin offers the guarantee of lower exchange expenses than conventional online installment instruments and is worked by a decentralized position, not at all like official monetary forms.
There are no physical bitcoins, just balances kept on an open record in the cloud, that – alongside all Bitcoin transactions – is checked by a monstrous measure of CPU power. Bitcoins are not given or sponsored by any banks or governments. In spite of it not being legitimate delicate, Bitcoin outlines high on prominence and has set off the dispatch of many other virtual cryptos altogether alluded to as Altcoins.
Each and every transaction is recorded in an open rundown called the blockchain. Individuals can send Bitcoins (or part of one as Bitcoin is separated into “Satoshis”) to your computerized wallet, and you can send Bitcoins to others.
Along these lines, it resembles an online variant of money. You can utilize it to purchase items and services, you can exchange it on trades, you can hold it to trust it will grow in value.
It additionally is the best of many endeavors to make virtual cash using cryptography, the study of making and breaking codes. Bitcoin has propelled several imitators, yet it remains the biggest digital currency by market capitalization, a differentiation it has held during its time to history.
We will stop here for now. We will discuss blockchain, mining, hashes and keys/wallets in the second part coming soon.
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How to Buy Bitcoin

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Regardless of accepting noteworthy consideration in the budgetary and venture world, numerous individuals don’t have the foggiest idea of how to purchase the digital currency Bitcoin, yet doing so is as basic as pursuing a versatile application. With digital money back in the news again, presently’s a superior time than any time in recent memory to dig into the weeds and get familiar with how to contribute. Allows breakdown all that you have to know so as to purchase bitcoin.

What Do You Need to Buy Bitcoin?

1. Digital Wallet: In order to have Bitcoin, a user must have also something called a “wallet.” Bitcoin isn’t in fact “coins,” so it just appears to be correct that a bitcoin wallet would not really be a wallet. It is software, just like Bitcoin. Bitcoins are kept up utilizing public and private “keys,” which are long series of numbers and letters connected through the scientific encryption calculation used to make them.
The “public key” is where coins are deposited to and withdrawn from. It is also like a digital signature kept in the blockchain.
The “private key” though is like your password to trade, buy and sell your coins. It is the ultimate data that you should always keep private lest they should be stolen or hacked. If you don’t own your private keys, you don’t own your coins.
Some clients ensure their private keys by encrypting a wallet with a solid password and, sometimes, by picking the cold storage option; that is, keeping the wallet offline. In fact, holding Bitcoin in cold storage, preferably in a hardware wallet is one of the best methods of storing crypto.
2. Individual Compliance Documents: Most of the exchanges (almost all nowadays) run a KYC (Know Your Customer) and AML (Anti-Money Laundering) policies. So as to purchase and sell bitcoin, you should provide your full ID, driver’s license, social insurance number, etc.
3. Secure Internet Connection: If you decide to exchange bitcoin on the web, be careful about when and where you get to your digital wallet. Exchanging bitcoin on uncertain or open wifi isn’t suggested and may make you increasingly powerless to assaults from hackers. Use a VPN service is possible and always keep your router protected by a strong password.
4. Bank Account, Debit Card, or Credit Card: Once you have a bitcoin wallet, you can purchase it by a payment method of your choice, for example, a credit card, bank transfer (ACH), or debit card or even by cash when you want to buy Bitcoin OTC (Over The Counter).
5. Bitcoin Exchange: After you’ve set up your wallet with a payment option, you’ll need a spot to really purchase bitcoin. Clients can purchase bitcoin and different cryptographic currencies from online market places called “exchanges,” like the stages that dealers use to purchase stock. Trades interface you straightforwardly to the bitcoin exchange where you can trade conventional money (FIAT) for bitcoin.
Mind you, exchanges are not your place to store crypto. They do offer wallet capabilities, but their main business is trading. Hence, you should always keep your coins private in your personal wallet unless you really need to trade it.

Are there any other ways of buying Bitcoin?

While exchanges remain one of the most popular ways of purchasing bitcoin, it is not the only method. Below are some alternative methods bitcoin users utilize on a daily basis.
1. Bitcoin ATMs: Bitcoin ATMs act a bit like in-person bitcoin exchanges. Clients can insert cash into the machine and use it to buy bitcoin which is then sent to a secure digital wallet. Bitcoin ATMs have been quite popular lately.
2. P2P Exchanges: On the contrary to decentralized exchanges, which match up buyers and sellers anonymously and take care of all aspects of the transaction, there are some peer-to-peer (P2P) exchanges that provide more direct interaction between users, Local Bitcoins for instance. Having opened an account, clients may post requests to purchase or sell bitcoin, including information about payment methods and price preferences. Clients then browse through offers of buying and selling, selecting those that seem best for them.
Even though P2P exchanges do not provide the same anonymity as decentralized exchanges, they give clients the chance to look around for the best offer. Many of these exchanges also introduced rating systems so that users have a way to make research on your potential trade partners before the transaction.
3. OTC desks: OTC differs in that trade happens directly between two parties, with one of those parties typically being a “desk” — a business dedicated to the buying and selling of a particular asset class. In an OTC trade, two parties agree on a price and then work out the transfer of assets between themselves. This direct medium of exchange is the precise reason such opacity exists within OTC markets — no one beyond the parties involved is privy to the price and volume in which various assets are trading at “over the counter.
A crypto OTC trade can be crypto-to-crypto (exchanging Bitcoin with Ether for example) or fiat-to-crypto (chancing US dollars for Bitcoin and vice versa).
OTC desks exist mainly because buying or selling large amounts of crypto is difficult.
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How to safely store Bitcoin?

Posted on by 4C-Trading

In the wake of reaching its All-Time-High late 2017 and in this way blurring from prevalence, cryptocurrencies like Bitcoin have encountered an increasingly stable rise by and by in 2019. As this has occurred, so has the number of hacking occasions expanded too. Those numerous new investors entering the crypto may not yet realize how to keep their assets secure. The absolute most conspicuous hacks have been those that have occurred on display: for example, hackers can even obtrusively reroute tokens destined for one wallet to another. As a result, the victims watch as their tokens are taken away from them, with nothing they can do about it.
We keep money or cards in a physical wallet, so bitcoins are also kept in a wallet—but it is a digital wallet. Such a wallet can be based on hardware or kept online (even on mobile, desktop or you can print out addresses and private keys on paper).
But how safe are any of these digital wallets? The response to this relies upon how the client deals with the wallet. Each wallet contains a lot of private keys without which the bitcoin proprietor can’t get to the cash. The greatest risk in bitcoin security is the individual client may lose the private key or having the private key taken. Without the private key, the client will never access their bitcoins again. Other than losing the private key, a client can likewise lose their bitcoin by PC malfunctions (smashing a hard drive), by hacking, or by truly losing a PC where the digital wallet dwells.
Let us investigate probably the most ideal approaches to storing bitcoin securely.

Desktop Wallet

Desktop wallets are those that are not associated with the Internet; those are additionally alluded to as “cold storage” wallets. A desktop wallet offers various favorable features over an online wallet. While online wallets are relatively easy to access from anyplace on the planet, they are additionally progressively easier to hack. Then again, desktop wallets are accessed by means of your private PC, with private keys put away just on that machine. In this manner, the presentation of your security key online is drastically diminished. In any case, desktop wallets are as yet vulnerable to hacks if your machine gets compromised with malware intended to uncover keys and take Bitcoins.

Hardware Wallet

A hardware wallet is more secure than a desktop one. These wallets are hardware pieces like USB sticks that you can have with you at any time. Those are also very anonymous – no personal details linked to the hardware, not identified data to be stolen. And if you happen to lose it, you can recover the wallet by using your seed phrase. The most popular ones are Ledger and Trezor.

Paper Wallet

A paper wallet is additionally a moderately protected method for putting away Bitcoin, despite the fact that it requires more propelled comprehension of how crypto standards work. Generate a paper wallet internet utilizing any number of committed sites, or create the wallet offline for significantly more prominent security. Paper wallets are put away effectively in light of the fact that they don’t take up a lot of room, and they likewise offer genuine secrecy: they are just a Bitcoin seed written here and there on a bit of paper.
Physical Coins
More and more companies are springing to allow purchasing physical Bitcoins. The coin you buy will have a carefully designed sticker covering a foreordained measure of Bitcoin. So as to buy the physical coin, you may need to pay a slight premium over the price of the Bitcoin that you’re purchasing, inferable from the expense of the production and shipment of the coin itself.

Other Security Precautions

Backup

Backup your whole bitcoin wallet early and regularly. In the event of a desktop failure, a backup might be the best way to recuperate the cash in the computerized wallet. Try to backup all the wallet.dat documents and afterward store the backup at different secure areas (like on a USB, on the hard drive, and on CDs). Moreover, create a solid secret password on the backup.

Software Updates

Stay up-to-date. A wallet running on non-updated bitcoin software would be an easy objective for hackers. The most recent variant of wallet software will have a superior security framework set up along these lines expanding the wellbeing of your bitcoins. Reliably update your cell phone or your desktop operating systems to make your bitcoins more secure.

Multi-Signature

The concept of a multi-signature has gained some popularity; it involves approval from a number of people (say 3 to 5) for a transaction to take place. Thus this limits the threat of theft as a single controller or server cannot carry out the transactions (i.e., sending bitcoins to an address or withdrawing bitcoins). The people who can transact are decided in the beginning and when one of them wants to spend or send bitcoins, they require others in the group to approve the transaction.
The idea of a multi-signature has increased some notoriety; it includes approval from various individuals (3 to 5) for a transaction to happen. Therefore this restricts the risk of digital theft as a single party can’t perform transactions). The individuals who can execute are chosen first and foremost and when one of them needs to spend or send bitcoins, they require others in the gathering to favor the transactions.
Points to remember:

  • You may lose Bitcoin and other cryptocurrencies as a result of theft, computer failure, loss of access keys, and more.
  • Cold storage (or offline wallets) is still one of the best methods for storing bitcoin, as these wallets are impossible to access online
  • Hardware wallets are potentially even better, although users face the risk of losing access to their tokens if they misplace or forget their keys.

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Top 10 Altcoins in 2020, part 2

Posted on by 4C-Trading

What cryptocurrencies should you invest in 2020? What altcoins have the most potential in 2020? What other cryptos should a crypto investor trade besides Bitcoin? What are those top altcoins? Let’s find out in the second part of our article.

6. Libra (LIBRA)

Rumors were formally confirmed on June 18, 2019, when Facebook released the white paper for Libra. The tentative launch date for the token is later in 2020, as Facebook has committed to sorting through regulatory barriers before launch. Libra will be overseen in part by a new Facebook subsidiary, the financial services outfit Calibra. When Libra does launch, it is sure to garner massive amounts of attention from those within (and outside of) the cryptocurrency sphere.
One of the most-anticipated cryptos as of now that is still to be launched in 2020. It is, however, something that is opposed to the idea of cryptocurrencies as it is centralized and has an unlimited supply, therefore, it can be easily manipulated and controlled. That is something that Satoshi Nakamoto wanted to avoid in the first place.
By mid-2018, bits of gossip circled that online networking monster Facebook, Inc. (FB) was building up its own digital currency. Given Facebook’s staggering worldwide reach and the potential for gigantic volumes of trade over its foundation, the cryptocurrency had since quite a while ago guessed that the web-based life titan may dispatch its own token.
Bits of gossip officially affirmed on June 18, 2019, when Facebook discharged the white paper for Libra. The provisional launch date for the token is later in 2020, as Facebook has focused on figuring out administrative boundaries before dispatch. Libra will be directed to some degree by another Facebook daughter company, called Calibra. When Libra launches, it makes certain to gather gigantic measures of consideration from that inside (and outside of) the cryptographic industry.
Libra price and market capitalization: N/A

7. Monero (XMR)

This open-source crypto was created in April 2014 and instigated incredible enthusiasm among the cryptography zealots. The improvement of this digital coin is totally gift-based and network-driven. Monero has been propelled with a solid spotlight on decentralization and scalability, and it empowers total security by utilizing an exceptional procedure called “ring signatures.”
With Monero, there is a group of cryptographic signatures at least one of which is the real one, however, it cannot be told which one it is among the others. Due to remarkable security and anonymity, Monero has been connected to criminal activities around the globe. Regardless, whether it is utilized for good or evil deeds, there’s no denying that Monero has acquainted significant innovative advances within the crypto space.
Monero is a secure, totally anonymous and untraceable cryptocurrency – something that is feared by all banks and authorities. Some might say it should be banned but we have a different opinion. Privacy is our fundamental human right and should always be perceived as such.
XMR current price and market capitalization (Jan. 29th, 2020) – $70,06/$1.22 billion.

8. EOS (EOS)

Started in June of 2018, EOS was developed by the crypto pioneer Dan Larimer. Before his work on EOS, Larimer had started the advanced automated exchange Bitshares just as the other project, a blockchain-based social media platform Steemit. EOS takes after Ethereum, so it offers a platform on which developers can create and launch decentralized applications (dApps).
There are, however, some differences: ICO lasted over a year and amount to over $4 billion. EOS offers a delegated proof-of-stake mechanism to provide better scalability than competitors. EOS acts like a separate network without a mining mechanism – the so-called miners create blocks and are rewarded with EOS tokens based on their production rates. There is, of course, a complicated system of rules to monitor this, but the general idea is that the network will ultimately be more democratic and decentralized than other cryptos.
EOS current price and market capitalization (Jan. 29th, 2020) – $4,01 /$3,81 billion.

9. Bitcoin SV (BSV)

Bitcoin SV (BSV), (Bitcoin Satoshi Vision) is a hard fork of Bitcoin Cash. The creator of BSV, Craig S. Wright, also claims to be the real Satoshi Nakamoto (he has failed to prove it yet). He proposed this fork to re-establish the so-called “Satoshi Vision” to the world of cryptocurrencies as he claims that the real of Bitcoin has been tainted. He plans to improve scalability, finally brings adoption and better transaction times, hence restoring the original Bitcoin protocol to keep it stable, and allow it to scale massively.
BSV current price and market capitalization (Jan. 29th, 2020) – $287,97 /$5,23 billion.

10. Binance Coin (BNB)

Binance Coin (BNB) is the official token of the Binance cryptocurrency exchange platform, one of the most popular ones in 2020. Founded in 2017, Binance quickly rose to prominence, winning the traders’ trust in no time. The Binance Coin token lets investors invest and trade with a lot of different cryptocurrencies efficiently on the Binance platform. BNB token is used to lower and pay for transaction fees on the exchange and may also be used to pay for certain goods and services, including travel fees and more.
BNB current price and market capitalization (Jan. 29th, 2020) – $18,05 /$2,80 billion.
Those were the last five Altcoins on our list that try to follow Bitcoin’s suit.
Now that you have found out what those top altcoins in 2020 are, it’s time to invest in tools and solutions that’ll continue to guide you to the right path. For a start, you may want to look into how the 4C Confidential Reports can help you make better decisions and identify market trends and hidden gems along this crypto adventure.
The crypto market never sleeps, and it is impossible to keep a hawk-eye on this volatile market 24/7. With the 4C Smart USD, you’ll have a fully automated bot that protects and grows your capital safely and progressively. This smart bot does the heavy lifting of monitoring the market for you so that you can invest your time towards endeavors that truly matter.
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