Most popular cryptocurrencies

Most popular cryptocurrencies

Several varieties of cryptocurrencies exist. The most popular and widely traded include:

• Bitcoin (BTC): Both the first and by far the most popular crypto, Bitcoin was created by the pseudonymous Satoshi Nakamoto, who described it as a "peer-to-peer electronic cash system." The first use of bitcoin occurred in 2010 when a user traded 10,000 bitcoin for two pizzas — an amount that, at the currency's current prices, would now be worth over $100 million. Since being established, Bitcoin has also splintered off into several Bitcoin-based products, including Bitcoin SV (BSV) and Bitcoin Cash (BCH).
• Ethereum (ETH): The second-largest cryptocurrency, Ethereum is a digital coin and computing platform that automatically executes each transaction. The Ethereum blockchain is the most commonly used worldwide, and the platform is currently working on Version 2.0, which will contain some new ways to manage transactional data.
• Litecoin (LTC): Often referred to as the "silver to Bitcoin's gold," Litecoin was created just after Bitcoin and currently stands as the sixth most popular cryptocurrency in the world. One of the token's primary benefits is its speedy transactional time.
• Tether (USDT): Unlike Bitcoin, Ethereum, or Litecoin, which exist solely in the virtual world, Tether is backed by local currencies in an effort to avoid the tumultuous fluctuations of the crypto market

What is cryptocurrency used for?

In its early days, crypto seemed a tad shady, associated with criminals and money launderers. A black market operation, the Silk Road, used bitcoin as its currency of choice until the FBI shut it down in 2013. 

Since then, cryptocurrency has slowly gained prominence in the public eye — and respectability. Today, it can be used for a variety of transactions, including investing in startups, negotiating import-export contracts, and even paying utility bills. 

In 2020, Paypal announced that it would allow users to hold multiple types of cryptocurrencies on their accounts, and is even looking to allow crypto to be used as a payment option on their many partner websites like eBay. 

But while its uses are growing, cryptocurrencies mainly seem to flourish as an investment asset, trading in specialized currency markets.❤

How  to invest in cryptocurrency

can form part of a well-balanced portfolio. Unlike traditional stocks, bonds, and mutual funds, crypto offers the security of anonymity and the potential for rapid future growth. In addition, because it operates outside of a traditional government setting, the assets are typically not subject to a freeze or seizure by authorities. 

Common investing apps like Robinhood, Coinbase, and Kraken all offer the ability to purchase crypto with ease. There are also entire online trading platforms and exchanges (like Gemini, BlockFi, eToro, and Bitcoin IRA) dedicated exclusively to crypto products. 

Additionally, publicly traded Bitcoin trusts and funds allow individuals to invest in professionally managed portfolios that trade the currencies — offering the diversification and economical prices that regular mutual funds and ETFs do.

What are the risks of investing in cryptocurrency?Cryptocurrency poses three major risks: 

1. It operates entirely without government oversight. The fact that crypto and its marketplaces are private and unregulated has raised questions as to what types of taxes are paid on gains or losses of the asset, as well as its potential for abuse. For example, in 2014, Tokyo-based Bitcoin exchange platform Mt. Gox was hacked, resulting in the loss of over 700,000 BTC.
2. It doesn't physically exist. Some compare crypto to blinker light fluid — it's not a real thing. It's not a tangible asset, like gold or other commodities. It doesn't represent a piece of a company, like a stock or bond. Crypto is not printed or minted like other currencies. So it has no fundamental value — only its trading value, which makes it highly speculative.
3. It is volatile. Crypto prices swing dramatically, sometimes plunging or climbing by hundreds of dollars in hours. In 2013, bitcoin plunged from $1,000 to $300 per unit; in November 2020 bitcoin crashed $3,000, then climbed to a new all-time high of $23,770.85 on Dec. 17. Other currencies trade in the mere hundreds, but their moves can be just as extreme.

Innovations are already being established to manage the market fluctuation of the system and control its valuation. For example, the crypto coin Tether quite literally "tethers" itself to local currencies, thus sidestepping the characteristic volatility of other unsecured tokens.

The financial takeaway

Cryptocurrency is an emerging asset that is sure to continue evolving in the coming years. Whether the future will be one where all tokens are backed by local currency or whether they'll remain intangible, crypto can certainly form a portion of a prudent investor's portfolio. 

Its decentralized nature has protected cryptocurrency from the influence of third-party servers and government agencies, which has created an anonymous processing system that appeals to many users. Its blockchain technology maintains a complex and highly-secure transaction log. 

However, the system is not risk-free by any means. The current lack of government and international regulations may hinder the product's desirability for some. For others, the volatility of different coin prices may seem just too dangerous — especially for an asset that has no intrinsic, fundamental value.

Much like the asset's price, public perception of cryptocurrency has fluctuated dramatically over time. But it's safe to say that this new type of currency is not yet spent.

 

Cryptocurrency is an electronic, private type of money — here's how it works and how you can invest in it

 

• Cryptocurrency is a form of digital, "decentralized money" — not government-issued but managed via private encrypted databases, called blockchains. 
• Bitcoin is the original, and still most popular, type of cryptocurrency. Tether, Ethereum, and Litecoin are other highly traded types.
• Mainstream investing apps now allow individuals to purchase cryptocurrency, but risks include high volatility and a lack of regulatory oversight.

• Your pocketbook may soon be going virtual. 

  That is, if the trend in cryptocurrency continues. This non-physical, digital form of money — issued not by governments but by private systems — keeps multiplying. Since 2009, when bitcoin — the first and best-known — debuted, thousands of cryptocurrencies have become available. Cryptocurrencies have been championed and developed by several corporations and financial institutions, including Air Asia, Mitsubishi UFJ Financial Group, and Facebook.

  And the currencies have also attracted the attention of the financial world. The rapid ups and downs in the prices of bitcoin and the 12 other major types that can be traded are the stuff of daily headlines. 

  S&P Dow Jones Indices, which runs the S&P 500 Index, is going to start publishing the price moves of several cryptocurrencies in 2021, helping investors track the performance of different coins. This sort of index gives a major boost of transparency and legitimacy to "crypto" as an asset class.

  For all its fame, though, "crypto" can still be confusing. Here's a guide to the basics behind the electronic currency — how it works, and what to know before investing in it.

  What is cryptocurrency? 

  Cryptocurrency is often referred to as "decentralized money," meaning that it is stored, created, and processed outside of a central bank, or government.

  Unlike traditional "hard" or paper money, cryptocurrency has no physical form. It's really a set of data, secured by cryptography (the science of encoding and decoding information) — that's why it's called "cryptocurrency." 

  When data is encoded, the information is converted from one form to another, less discernible form, and is then decoded — or reverted — back to its original form by the end-user. This complex process eliminates the possibilities of double spending and counterfeiting, thus reinforcing the security of using cryptocurrency to pay for things. 

  In a way, cryptocurrency works like a secure, cloud-based filing system, much like Dropbox or Google Drive.

  By decentralizing, cryptocurrency avoids interactions with third-party servers and government agencies, which often engage in mass data collection and allow potential control of an individual's access to funds. This lack of affiliation with a government or banking system allows transactions to be processed anonymously, which some users consider a notable benefit.

  On the flipside, cryptocurrencies lack one of the main advantages of a physical or "hard" money system, since there is no government entity responsible for maintaining the central supply, or even a record of the money or its transactions.

  How does cryptocurrency work? 

  Cryptocurrencies maintain their own record-keeping through the use of blockchain, an online ledger and transaction log. 

  Blockchains create digital records — of transactions, certificates, or contracts —that can only be added to, rather than changed or deleted. This independent transaction log, crypto-converts insist, is far more secure than paper records or institutional digital accounts, which could be hacked.

  Essentially, the platform archives both the buyer's and seller's information and records it as a "hash," or string of letters and numbers generated by a complex mathematical function. Each hash is directly linked to the hash before it, so unauthorized changes to the ledger will become apparent immediately after a hash is altered. 

  Once a certain number of hashes is reached, the group is converted into a "block" and linked to the other blocks on the server — hence the name "blockchain." The blockchain is updated every ten minutes and stored on a multitude of servers worldwide. 

  Cryptocurrencies operate in a closed system, meaning that there is a fixed amount of them and new units can only be created following a strict set of guidelines. Some currencies, such as bitcoin, have a software-enforced cap on how many units can be created. This limited supply makes each unit more valuable—especially as the currency gains popularity among day traders.           { to be continued}  Source: Insider

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What is a WESA Token?

WESA Tokens are the hot property in the Crypto Space. These are Tokens associated with the We Share Abundance (WSA) economy and have grown from about 5 cents 12 months ago to around $20 each today. The best thing is that they are forecast to double each month for the next few months.

WESA TOKEN

WESA Token is a type of Cryptocurrencies in the crypto market. Its a crypto like Bitcoin you can use in the security market.

Its current value worths $279. I mean US dollars.

WESA token can be traded as Bitcoin, Ethereum and Tron.

One of the media WESA token can be traded is We Share Abundance WSA.

What is We Share Abundance?

We Share Abundance is a community (an Online Nation) of like minded people who seek more than just material gains. A community built around service to others for the good of all.

Its a crypto organised body registered to trade on WESA token.

WESA TOKEN miners are making fortune out of it now. As said earlier, it currently worth $218. By first quarter of 2021, it would rise to $500 per token.

Conclusively, my father proverbed to me that whenever a father is giving advice to his children, the orphans listen attentively.

I have given a knowledgeable insight on WESA TOKEN. Let the wise hid immediately.

Therefore, to earn WESA token, or invest on WESA TOKEN as people do invest on Bitcoin, you are free to register with We Share Abundance WSA.

We share Abundance has been updated with many other money mining products. Here is the link for you Get in and explore

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 Waves’ blockchain is a proof-of-stake algorithm that rewards coin holders with the commissions from transactions.

How to Buy Waves Cryptocoin?

There are a number of ways to purchase Waves, which include through the traditionally centralized cryptocurrency exchanges, through the Waves decentralized exchange (DEX) and even from the Waves client using a fiat money, cryptocurrencies or even credit card via its partnerships with 3rd parties.

Below is a step-by-step for buying Waves coins on Waves Client.

Step 1 – Create Waves Digital Wallet

As is the case with all of the other cryptocurrencies, it is always advisable to select a wallet that has been recommended by the project website, since compatibility and security levels will vary between the wallets and the developers of a particular blockchain tech will have considered certain wallets during the development phase or even developed their own, as is the case with Waves.

The first step in the process is to download Online Client (Beta) from the Waves Platform website, by going to the  Waves platform  and selecting the Get Waves option at the top right of the homepage.

The first part of the process is to create an account that can be done at the ‘Get Waves’ page on the Waves Platform, by selecting Online Client (Beta).

There will be a number of pages to read through, requiring acknowledgment of liability, in the event of loss of funds or SEEDs, which lies with the owner and not with Waves Platform, together with some advice on wallet management and protection against phishers.

Once you’ve been through the pages, you will reach the Waves Platform page.

Select ‘Get Started’ in order to create a new account, where you will be prompted to first select your address avatar and then enter an 8 character password.

Once you have selected the avatar and entered and confirmed your password you will be given the option to back up now or do it later. We would recommend opting for back up now before progressing.

The backup involves the saving of a 15-word phrase that is auto-created and saved, as the next step requires you to re-enter the 15-word phrase to confirm that the phrase has been saved correctly. It is critical that the phrase is saved somewhere safe and written down and kept somewhere safe as this will be needed in case the wallet has been lost and needs to be restored. Losing the backup phrase will mean that you have lost your Waves coins and another other coin or fiat money held in the wallet.

Once you click the ‘I’ve written it down’ option, you will then be prompted to confirm the phrase.

Select the words in order of the phrase saved and click ‘Confirm’

The final step in the creation of your Waves wallet is to make some further acknowledgments and agreements.

Tick the 3 boxes and click ‘Confirm and Begin’.

Step 2 – Buy Waves Coin

Now that you have created the wallet, there are a number of ways to buy Waves coins. For those looking to purchase Wave coins on the Waves DEX, Waves coins can be purchased with either U.S Dollar, EUR, CNY and numerous cryptocurrencies, while the Waves wallet is able to hold Litecoin, Bitcoin or Ethereum, in addition to Waves coins.

First, you will need to fund your Waves account with your preferred source of funds by selecting the deposit option.

• When looking to deposit a cryptocurrency to purchase your Waves coins, you will be given a wallet address to copy so that you can transfer the cryptocurrency from the wallet in which it is being held.
• When depositing fiat money, you will need to go through a verification process through SEPA. Select ‘Get verified’ and enter all of the personal information requested.

Buying Waves with Bitcoin

Outlined below is a step-by-step guide to buying Waves with Bitcoin on the Waves Decentralized Exchange:

The following steps can be ignored by those who already have Bitcoin (or Ethereum or Litecoin).

1. Purchase Bitcoin – For those who do not own Bitcoin, you will need to open an account on Binance  and purchase Bitcoin.
2. Transfer Bitcoin to your Wave Wallet – Once you have opened an account and purchased your Bitcoin, transfer your Bitcoins from the Binance exchange to your Waves wallet.
3. Enter Purchase Amount – In the withdrawal process, in addition to the address, you will be prompted to enter the amount of Bitcoin to be transferred.
4. Purchase Waves with Bitcoins – Once the coins have reached your Waves Wallet, you are then able to purchase Waves coins with the Bitcoins held in your Waves Wallet, directly on the Waves DEX platform.

Buy Waves with USD or Credit Card

It is possible and simple to buy Waves with U.S Dollars or by credit card, with the Waves team having incorporated the option to purchase Waves on the Waves Lite Client platform in partnership with Indacoin.

Indacoin is well-known in the Bitcoin world and has been offering credit card services to the crypto world for a number of years now.

Once purchased, the Waves coins are immediately transferred to the purchasers’ Waves wallet.

Chargeback issues are addressed, with buyers receiving a call as well as a 4-digit code to enter in order to confirm the transaction. First-time buyers will have limits imposed that are gradually raised with each transaction.

Outside of the Waves platform, certain centralized exchanges such as YOBIT also allow the purchase of Waves and other cryptocurrencies with credit cards, with transactions immediate.

Buy Waves with other Cryptocurrencies

For cryptocurrency investors looking to diversify their portfolio, it is possible to buy Waves coins with other cryptocurrencies than Bitcoin, either on the Waves’ decentralized exchange or on centralized exchanges.

On the Waves’ DEX, Bitcoin, Ethereum, and Litecoin, amongst others, are accepted to purchase Waves coins and it’s simply a case of opening a Waves account (as outlined above) and transferring your desired amount of Bitcoin, Ethereum or Litecoin in order to purchase the Wave coins that would then be automatically held in the newly created Waves wallet.

When looking to purchase Waves with a cryptocurrency, it is important to ensure that you have a Waves wallet downloaded to transfer to the acquired coins to, as it is not recommended to hold the purchased coins on the centralized exchange

Waves Digital Wallets

Digital wallets are virtual wallets that are used to hold cryptocurrencies privately and securely, as opposed to holding purchased coins in an account on the exchange that the coins were acquired on, while not losing the flexibility to send the coins held to other exchanges or wallets.

Holding purchased coins on an exchange leaves the coin holder at risk of theft, with multiple cases of theft on exchanges having been reported recently.

For Waves, the recommended digital wallet is available on the Waves Platform website and is automatically created when creating an online account, as outlined above. The wallet is not only described as easy to use but also has appropriate security levels to ensure that your coins are safe, a 15-word phrase and a password required to access the wallet.

While other wallets may exist, it would be our recommendation that alternatives are avoided, with the fact that the Waves Wallet is able to hold multi-cryptocurrencies an added advantage.

Curtesy: Bob Mason

 Source: Coin Metro

Blockchain: Explained in Plain English

Intro-doh!ction

This is not just another article about blockchain technology. This is blockchain explained in plain English. If you and technology haven’t got friendly yet, but you’ve googled ‘blockchain’ at least once – and then given up, overwhelmed with all the information coming at you and flooding your brain – don’t click away!

When blockchain was first created, its full potential wasn’t obvious to everyone. Today, there are more and more areas of life in which blockchain can be applied and even more ways that it can be used in the future, improving the functioning of those areas significantly.

Here’s an example… More than likely, most of you associate blockchain with transferring of funds. Why is that? Because one of the uses of Blockchain is to facilitate even the tiniest transactions imaginable. Equally important are peer-to-peer blockchain transactions, which mean the transferring of funds from one place to another for free. To put it in even simpler terms, if you have a virtual wallet and your friend has one, you could exchange your bitcoin for another coin instantly and free of charge. Isn’t that the future of multi-currency payments?

Blockchain: The War of Definitions

Blockchain has been defined as a digital ledger in which transactions are recorded chronologically and publicly. Well, that’s nice but not exactly what we want. We want blockchain explained simply, using no complicated language or metaphors, right?

A blockchain consists of a number of blocks, hence the term. Each block is a record of transactions of specific data, which can contain anything from Cryptos to voting records to medical data. When one block is completed and can no longer be updated with new data, it is added to the chain and another, new block, is formed.

All the information on the blockchain is publicly available, as it’s a decentralized system. Does that word ring a bell? Decentralized literally means that the information is stored on many computers distributed around the globe, and there’s no specific party or authority to control it.

Visualizing Blockchain Technology

You could think of blockchain as the Google Docs service – hands down, a clever metaphor from William Mougayar.

Do you still remember the good-old-times when people used to create separate Word documents, save them, and then forward them to others for editing? You might – and some of you may still be doing it! These days, it’s much easier to use a Google Doc, which allows us to create, view, comment, and edit the information in a live document online, given that we have the link and know where it’s located.

In a similar way, blockchain allows for the distribution of information. So, there we have a Google Doc – a block – that is duplicated thousands of times across a large network of computers around the world – a chain of blocks. The network is set to update every single document, or block as and when its changed.

Success! Now we have a basic understanding of blockchain!

Getting Crypto With It

Now that we’ve explained how blockchain technology generally works, let’s dive deeper into the Crypto-verse. How do virtual wallets work… and what about online currency exchanges?

Imagine that there are two people who want to make a Crypto transaction on the Internet, each of them must have a public and private key, which are basically ridiculously long random numbers that are required to create a virtual user identity. A public and private key combined make up a digital signature – just like the one you use to sign important documents in real life.

As the name suggests, a public key is public – no big surprise there. It is available to everyone through a corresponding directory. A private key, on the contrary, must be kept private at all times. Both keys are mathematically related, so that one’s private key can open their public key and vice versa. Remember that if you lose your private key, your public key and the funds become inaccessible and get lost in the giant blockchain void. Below’s an example:

If you want to send tokens to your friend and be absolutely sure that no-one else will ever be able to access it, you will encrypt your transaction with your friend’s public key. Only your friend has access to their corresponding private key, which means that they are the only person who can decrypt the encrypted transaction. Any public key can be potentially accessed, but they are virtually unhackable, unless you gain access to the related private key. The moral of the story? Keep your private key safe – and do whatever it takes not to lose it along with whatever sensitive data is related to it!

Crypto Exchanges Come Into Play

You need an exchange to buy digital currency to be able to make transactions using your virtual wallet. CoinMetro, for instance, has recently launched a closed beta-version of an all-in-one exchange that will soon start moving Crypto forward and change the Crypto-verse as you know it.

Via an exchange, you can spend the coins you bought at once or, alternatively, you can choose to store them in your wallet, which brings us back to the importance of private keys (see above). Once lost, your funds are gone forever.

Final Thoughts

In an ideal future world, common blockchain technology usage will be a happy reality. There’s still a long way to go until that happens. We can clearly see the need for improvements in worldwide regulations to nourish the developing blockchain industry and create a more supportive and friendly environment.

It’s immature for the existing economies to suppress blockchain developments as our progressive society is slowly, but gradually, moving over to eliminating public dependency in the equation of accessing and owning private information. We should be able to handle our sensitive data in a super-fast and secure manner, backed by the technological know-how. The truth is that the blockchain environment is currently being opposed by governments and the banking sector in particular, but the stubborn resistance will inevitably fade away eventually.

The CoinMetro Team

 What is block chain in simple words?

 Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.

What is Blockchain and how does it work?

A Blockchain is a type of diary or spreadsheet containing information about transactions. Each transaction generates a hash. ... Each block refers to the previous block and together make the Blockchain. A Blockchain is effective as it is spread over many computers, each of which have a copy of the Blockchain.

What is the main purpose of Blockchain?

A blockchain is a decentralized ledger of all transactions across a peer-to-peer network. Using this technology, participants can confirm transactions without a need for a central clearing authority. Potential applications can include fund transfers, settling trades, voting, and many other issues.

Who owns the Blockchain?

The answer is that no one really owns Blockchain technology, although specific and individual Blockchains can be owned by different organisations.Apr 19,

What is Blockchain and why is it important?

By spreading its operations across a network of computers, blockchain allows Bitcoin and other cryptocurrencies to operate without the need for a central authority. This not only reduces risk but also eliminates many of the processing and transaction fees.