How To Sell Bitcoin In India: 5 Best Websites [2020]

Ultimate glossary of crypto currency terms, acronyms and abbreviations

I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless.
2FA
Two factor authentication. I highly advise that you use it.
51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network.
Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example.
Altcoin (alternative coin): Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others.
AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet.
AML: Defines Anti-Money Laundering laws**.**
ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset.
Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money.
ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low
Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop.
Bear trap:
A manipulation of a stock or commodity by investors.
Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities
Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame.
Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain.
Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack.
Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase.
BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts.
Bull market:
A market that Cryptos are going up.
Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid.
Crypto bubble:
The instability of cryptocurrencies in terms of price value
Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie
Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement.
Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.
Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos.
DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention.
Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power.
Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system.
Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins.
DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts.
Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network.
Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time.
DYOR:
Means do your own research.
Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it.
Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed.
Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether.
Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more.
Faucet:
A website which gives away free cryptocurrencies.
Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound.
Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork.
FOMO:
Fear of missing out.
Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints.
FUD:
Fear, Uncertainty and Doubt regarding the crypto market.
Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum.
Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”.
Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.**
Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed.
Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions.
HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life.
ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past.
John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims.
JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy.
KYC:
Know your customer(alternatively consumer).
Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla.
Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network.
Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment.
Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins.
Margin trading:
The trading of assets or securities bought with borrowed money.
Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply.
Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards.
Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware.
Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors.
Mining rig:
A computer specially designed for mining cryptocurrencies.
Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon”
Node:
Any computing device that connects to the blockchain network.
Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone.
OTC:
Over the counter. Trading is done directly between parties.
P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server.
Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets.
Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public.
Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency.
PROOF OF WORK (POW) :
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees.
Protocol:
A standardized set of rules for formatting and processing data.
Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key.
Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame.
Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase.
REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry.
Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type.
ROI:
Return on investment.
Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe."
“the exchage I use got hacked!”“Oh no, are your funds safu?”
“My coins better be safu!”


Sats/Satoshi:
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin.
Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain.
Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
Shitcoin:
Coin with little potential or future prospects.
Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness.
Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value.
Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI.
Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights.
Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources.
Solidity:
A contract-oriented coding language for implementing smart contracts on Ethereum. Its syntax is similar to that of JavaScript.
Stable coin:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market.
Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Surge:
When a crypto currency appreciates or goes up in price.
Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing.
Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) .
Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality.
TOR: “The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”.
Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies.
Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it.
Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history.
Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market.
Whitepaper:

A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition:
Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
-u/flacciduck
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
submitted by flacciduck to CryptoCurrency [link] [comments]

10-31 21:07 - 'Share a big wool, hurry up, for the foreign trade field of exchange.' (self.Bitcoin) by /u/re01020102_ removed from /r/Bitcoin within 91-101min

'''
Process: To put it simply, more and more Chinese foreign trade companies are using USDT for payment collection and choosing to avoid THE US dollar because of the long payment collection cycle in US dollar, customs clearance fee, wire transfer fee, exchange rate fluctuations, depreciation of US dollar and other reasons....
If you are a newbie and don't know where to buy USDT, you can choose Huobi or [link]1 to buy USDT. At the same time, you need to register [link]2 , which is a exchange service platform for foreign trade enterprises in greater China and headquartered in Hong Kong. Invitation code: RJTGVI.
After registration, it will be approved in about two hours, and then you can withdraw your USDT purchased from Huobi or Binance to [link]2 , and choose the highest bidder to sell. After the sale, you will receive USDT Trc20, and you can cash out your USDT Trc20 by selling it through Binance or Huobi.So you've made an arbitrage play.
Benefits: The principal is $5,000, which can be exchanged for more than 700 USDT at the current price. The premium of each USDT is $0.1, and the profit of one handling is $70, and the profit of ten handling is $700.An average of eight times a day is enough, because the number of times depends on the order limit of the foreign trade company. The principal is $10,000, and the profit is about $140.Can keep moving bricks every day, the principal of 10,000, a day to earn thousands of dollars 800 no problem.But the premise is, the key, the key, the key -- see the foreign trade company hang sheet immediately make a move to give him, otherwise the premium is fleeting, will be other acceptor to grab sheet.
Extension: Conditional, can consider to go to Hong Kong to do an HSBC or standard Chartered account, buy more cheap USDT by means of telegraphic transfer, also can look for tether domestic agent to buy USDT, if such operation can be more comfortable stuffy sound rich, but the premise is to have personal assets proof.The Student Party does not consider this method for the time being, because your principal is small (non-discrimination, please do not be too sensitive, I just graduated three years ago, I worked my ass off to run errands for customs clearance company...).
'''
Share a big wool, hurry up, for the foreign trade field of exchange.
Go1dfish undelete link
unreddit undelete link
Author: re01020102_
1: www.bin**c*.com* 2: www.nice2u.site 3: www.nice2u.site
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

I built an arbitrage system that finds arbitrage opportunities between cryptocurrency exchanges

It took me about 6 months of coding to get where I am now and I'm letting cryptocurrency try it out for free. This is literally the first time I am posting about it to see how people would react to such a system. Currently it is able to find arbitrage opportunities between Binance, Bittrex, Cryptopia, Bitfinex, YoBit, HitBTC, Kraken and Poloniex with many more to come.
It is not like the average arbitrage bots you see mine works by calculating the profit you will make buying on one exchange and selling it on another. It is able to detect which exchanges are doing maintenance on wallets so you dont waste time with false arbitrage opps.
It was able to find a 17% arbitrage opp on Game Credits and I was able to make 15% by purchasing it on Bittrex and selling it on Poloniex 2 days ago. It took me about 7 minutes transfer time. I was also able to buy Bitcoin Gold from Binance and transfer it to Bittrex and sell it for a 20% profit which took me around 30 minutes.
My system is designed to eliminate trading risk by keeping your money out of the market as much as possibles. The purpose is to detect when there is a large price gap between exchanges and capitalize off of it which means get in and get out as fast a you can. The only risk becomes the time it takes to transfer from one exchange to another but the ERC20 tokens transfer pretty fast so it works well with most digital currencies. Also have to be aware of the volume in relation to how much you money you trade with.
I would like to see how many people were able to successfully profit from arbitrage also who would be interested in such a system.
Here is an image of how the system displays the arbitrage opps https://ibb.co/iBWafx and the system can be accessed at Arbiswap.com
----------------------------TRY IT OUT---------------------------------------------------
ATTENTION!!!
Some hater keeps changing the password so I cannot make a test account anymore so it is best everyone create a free trial account and I will make it so the system can be accessed by everyone here at crytocurrency.
It is free to start the trial and will expire in 14 days so make use of it and see if you can find any deals with my system. I suggest you only do ones of 9% or more. Login here http://arbiswap.com/cryptocurrency-arbitrage/ Dont forget to cancel before 2 weeks ends if my system sucks for you.
Keep in mind the system works but you have to be on at the right time to find deals and it updates every 15 minutes. Right now I am working on an alert system which will alert you of the most promising arbitrage opps 9% profit or more on high volume exchanges. Thanks for the amazing feedback I am building this for you guys and it will be limited memberships so work with me and I will with you.
Update: Thank everyone for the support...Email alerts are now active to subscribed members... it checks exchanges every 5 minutes for possible arbitrage opps and when it finds one you will be notified. Anyone can see past alerts on site but they are delayed 3 hours.
Update: here is a medium article I published to try and explain more details about how the system works https://medium.com/@chasarcaulon/presenting-arbiswap-crytocurrency-arbitrage-platform-4dd12b99fd36
submitted by wealthjustin to CryptoCurrency [link] [comments]

CELT update

https://steemit.com/coss/@spielley/celt-coss-exchange-liquidity-token

CELT - COSS Exchange Liquidity Token

What is CELT, why is it created?

CELT is an ERC20 token that can be bought and sold at its contract. It's created to fund a bot that operates on the COSS exchange. The bot takes the form of being a market maker. It detects how big the void is between buying and selling orders on the orderbook of a pair and decreases it, depending on the reserve it has. It decreases it by putting a buy limit order and a sell limit order within the void. When both these positions get filled the bot realises a small profit. If you want to trade you need a counterparty to trade with. If you don't have a counterparty to trade with, you can't trade, you'll need to trade at a price someone does want to trade at. The CELTbot tries to provide better prices for users to trade at instead of having to trade at a standard big loss due to the lack of standing orders on the orderbook.

Expanding functionallity with arbitrage

Because of the recent partnership with thaodehx where he's doing arbitrage between coss and Binance I decided to ask the CELT holders on reddit if I should add my own huobipro -COSS arbitrage bot into the game using CELT funds. After getting their opinions on this I finally booted it up yesterday with 0.5 ETH of my own and 30 OMG from the CELT wallet. Huobiprohistory is showing 130+ trades have been done since startup. Everybody wins with increased volume and profitable trades. The bot is active on all pairs in common between COSS and huobi.

Wallet performance

Last week @aume27 created an improved spreadsheet for me to keep track of the Wallets funds and performance. I decided to actually start keeping decent track of the wallet perfomance in ether equivalent now it has been made easyer to do so and not as time consuming. I've added huobipro's wallet equivalent in bitcoin to todays calculation and will keep doing it that way. It's not there in the previous ones cause it's only been setup since yesterday.

Wallet holdings buildup:

![](https://cdn.steemitimages.com/DQma5SvnbNDuHD5fW1Dw6MYaf4YbSrwMwMDre1wr5y6Z91g/image.png) ![](https://cdn.steemitimages.com/DQmVGQwUVSMqDUfL9715cqu9UorxihLS3YJzVZfdvioVBvY/image.png)

Wallet Etherequivalent evolution:

![](https://cdn.steemitimages.com/DQmQ6oLC1Q5bCGbW7U1kc5wcjLq8sbMzjrFTixFjKZjj9cx/image.png) Keep in mind that the first 2 colums are creating a new baseline with the new reporting system. Do not be alarmed that we are down in ethequivalent value, we have been accumulating crypto during this downtrend we'll be back in profit when the limit sell positions on top get filled again. We accumulated all the way on the downtrend and are now back in uptrend, CELTbot works best in ranging markets where people just exchange with the bot and the bot gets more turnover. You can see that in a week time the etherequivalent has been uptrending now. Todays report is a bit off because of the Huobi wallet to BTC conversion, I expect it to flatten out if I keep reporting its contents the same way each day.

The overview graph:

![](https://cdn.steemitimages.com/DQmZFJsiEnr8HK9LryPUm6mvRpA2KC8NDP5HxWCQU2PDkhY/image.png)

Buy and sell CELT at its contract.

The easiest way to buy and sell CELT is if you use this site if you have metamask: https://celt.dvx.me/ Otherwise refer to the CELT launch post to buy with Myetherwallet: https://steemit.com/celt/@spielley/the-cossening-celt-launch-and-how-to-get-and-sell-them

New funds use:

If you are buying CELT let me know where you want your funds to be used: - Increasing the orderbooks on coss and improving the spread of pairs - Increase the arbitrage part - If you want your funds to be only used to increase the orderbook of ETH/BTC for this is the heart of our COSS exchange. - Let me decide what's best use of the new funds

Example of the Bots new arbitrage trading:

![](https://cdn.steemitimages.com/DQmW92RVzBEV5q5boUjnLwndjzfK8V77HtBwydN75yL2kfZ/image.png) The first Trade happens on COSS and the 2nd happens on huobi. this is a 0.3146% diffrence in price. Deduct fees huobi: 0.2% and deduct fees COSS: 0.04% leaves us with +/- 0.0746% gain on a 0.1 LTC arb trade on LTC/BTC pairs.

Expanding arbitrage to other exchanges

If people are willing to fund this and if it is within my botting power to do so, I will be adding other exchanges to our dear CELTbot. First on my mind would be to add Kucoin to the fold as I can imagine a lot of pairs being in common. I would need to check to be sure how many there are. Since Thaodehx already has binance setup I will leave that one up to him as last I heard he was planning to move forward with the funding.

COSSbot group

Some people keep thinking that CELTbot is the same as the COSSbot from the community COSSbot group. I did join their coding effort and provided an automated trading strategy. It's now available for alpha acces. More info about this here: https://medium.com/@jimmydeal/cossbot-alpha-testing-commenced-85af5824f50b

accumulationbot.com

Further I am working on providing a freemium cossbot spinoff through https://accumulationbot.com/ When COSS releases API everybody will have acces to an accumulationbot and will be able to autotrade their coss account and accumulate their favorite crypto's!. I would still encourage everyone to join the alpha cossbot group as people in there will get a free subscription for an amount of time to accumulationbot.com. The site is still under construction and I can't ETA the actual launch of it.

decentralgear.com

The site owner is a COSS supporter and supporter of the coding effort for COSS, he is offering a 10% discount if you use the discount code SP10 at his store. So if you're looking for crypto related merch make sure to stop by his site to check out https://www.decentralgear.com/

Roadmap

I hope you guys enjoyed this week's monster steemit update. Help me out by upvoting here and spreading the word.
submitted by Spielley to CossIO [link] [comments]

New Report Illustrates The Problem With Cryptocurrency Exchanges

In light of the very recent 104-page Bitwise report that examined fake volumes on cryptocurrency exchanges, it is relevant to address one of the primary problems of cryptocurrency exchanges - transparency.
The relationship between exchanges, token issuers, and sites that cover market caps and exchange volumes is well-established as dubious for retail investors in a market rife with volatility already.
The most striking consequence of the three-pronged relationship, is the absurd volumes of many cryptocurrency exchanges.
For context, Bitwise’s paper was actually submitted to the SEC as a comment, and cited that although Bitcoin spot market and arbitrage strength have ‘improved dramatically,’ Bitwise reiterated how 95 percent of exchange volume is likely fake or due to wash trading.
Their conclusion was mirrored by analysis from The Block, who to a certain extent, agreed that fake volumes among crypto exchanges are rampant (up to 86 percent exchange volume) but not as significant as Bitwise’s earlier report.
Bitwise does reveal how Bitcoin’s spot market is much more efficient than many observers realize, but the main takeaway in the context of endemic exchange problems, is their conclusion that only 10 exchanges have real trading volumes.
Bitwise analyzed economic and non-economic trading, among more than 80 exchanges by scraping live trading data from them, determining that 73 of the 83 evaluated exchanges failed at least one of their tests for real trading volume.
Bitwise reported their findings as "10.5 billion dollars out of the 11 billion dollars in reported daily volume (or - 95%) is either fake or wash trading."
The Block’s analysis of 48 cryptocurrency exchanges used a different approach, that honed in on monthly website traffic to exchanges over the course of six months using SimilarWeb.
Of all the exchanges they analyzed, Binance and Coinbase led the way with 185 million and 143 million visitors over the 6-month period, respectively.
This is not surprising, as data furnished by the Blockchain Transparency Institute (BTI) and Bitwise support the notion that Binance and Coinbase are among a select group of popular exchanges with real volume.
However, The Block disagreed with part of the approach Bitwise took in its study, detailing how Bitwise ignored the real volumes on hundreds of exchanges that they believe have fake volumes.
Examining cryptocurrency exchange volume is clearly very challenging, but the conclusion we can draw from both Bitwise and The Block is that wash trading and fake volumes continue to persist at a concerning scale.
One of the reasons that might make a crypto exchange influence numbers, is the effect of data aggregation websites like CoinMarketCap, which prove invaluable distributors of potential investors to new exchanges looking to bring in more volume.
The higher a new exchange appears on the listing site, the more likely investors are to check it out, creating a positive feedback loop for the exchange’s volume at the expense of transparency for investors.
At the peak of the un-regulated ICO phase, it was reported that some listing fees for ICOs on exchanges reached millions of dollars.
While the incentives for newer and smaller exchanges to engage in inflated reporting and wash trading are manifest, some of the downstream consequences are not as widely understood - particularly regarding the solvency of exchanges.
While the supposed exit scams, fake volumes, and solvency problems of cryptocurrency exchanges may seem like an unfixable problem, that’s becoming an obsolete notion.
Numerous exchanges and outside projects are targeting increased transparency in the ecosystem. Whether it be self-regulation via revenue reporting, proof of reserves, or custodial protocols, transparency among crypto exchanges is poised to improve.
For investors, knowing which exchanges to trade on ultimately depends on self-education and understanding which exchanges are legitimate and which are not.
Websites such as BTI and Nomics provide data-driven metrics for real volumes on exchanges, detailing any inconsistencies between metrics like website traffic and reported volumes.
BTI even supplies in-depth reports on exchanges to avoid and their ‘Wash Trade Status,’ which provides their percentage of overall volume as likely being wash traded.
Proof of solvency presents a= problem of its own for exchanges. For example, an exchange may not want to publicly report revenue or other fiscal details due to fear of competition taking advantage of their transparency - a reasonable concern on their part.
ArpaChain relies on a cryptographic technique called ‘secure multi-party computation,’ which allows multiple participants to compute a function without revealing their independent inputs.
In the context of exchanges, that could mean exchanges joining forces to self-regulate, and to expose that they are solvent beyond a precise threshold without revealing the exact financial details of each exchange.
Kraken provides comprehensive details on their ‘Proof-of-Reserves’ audit process to give investors assurances of the exchange’s solvency. Similarly, ‘Proof-of-Reserves’ is the name of a proposed protocol by Blockstream for standardizing solvency proofs with Bitcoin.
Some solutions simply bypass the problem of solvency altogether.
Arwen Protocol uses atomic swaps to circumvent the need to deposit crypto assets on a centralized exchange.
Instead, funds are stored via a combination of on-chain escrows and off-chain atomic swaps - the assets are never stored on the exchange, so there is no need to fret a fractional-reserve system working behind the scenes.
Propositions for scaling Bitcoin also include the concept of ‘Bitcoin banks,’ and at least, exchanges or financial institutions that unmask risk to users - with varying consequences and roles to play in the ecosystem.
While it is evident that the current lack of transparency of cryptocurrency exchanges is a significant problem, it is not a dilemma without hope for improvement.
Navigating the underbelly of the cryptocurrency exchange environment is challenging and full of risk, but at least investors and observers are increasingly armed with better tools to discern the truth for themselves - giving power to the maxim of “don’t trust, verify.”
All that said, you should not see this article is a recommendation to invest, buy or sell cryptocurrencies. Is it still a very fragile and unregulated market. Do your research.
submitted by VoltzUK to u/VoltzUK [link] [comments]

New Bitwise report for SEC

New Bitwise report for SEC


Bitwise Asset Management presented a 105 pages report to the US Securities and Exchange Commission (SEC), which reviewed 83 cryptocurrency exchanges for fake trading volumes, analyzed the relationship between futures on the CME and the spot market, as well as the volume of arbitrage operations on the platforms.
The document, in particular, states that in reality the bitcoin spot market is much smaller, more regulated and more efficient than is commonly believed. Thus, according to the study, the state of the spot market has improved significantly since the beginning of 2018.
Earlier in Bitwise, it was argued that 95% of trading volumes on unregulated exchanges are fake and devoid of any economic sense. The analytical material had a thesis that approximately $ 6 billion of the daily trading volume of cryptocurrencies on the spot market are fake.
Only 10 of the 83 cryptocurrency exchanges analyzed, passed the original Bitwise test, the purpose of which was to determine whether the sites overstated their trading volumes systematically. These include Binance, Bitfinex, Coinbase, Kraken, Bitstamp, bitFlyer, Gemini, itBit, Bittrex and Poloniex.
It is worth noting that the South Korean cryptocurrency exchanges were not included in the study. In Bitwise, this was explained by the fact that the trading volumes of these sites stand out too much from the rest of the cryptocurrency market.
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The Crypto King Report February 2nd: The Arbitrage in South Korea is Gone! (New Article) and ICOs

The Crypto King Report February 2nd: The Arbitrage is Gone! (New Article) and ICOs
I am always asked where do I recommend trading, well 2 great exchanges allowing new traders are:
Binance: https://www.binance.com/?ref=15316928 Cryptopia: https://www.cryptopia.co.nz/Register?referrer=JaketheCryptoKing
I appreciate all my loyal followers! I am trying to build a social media presence and would love if you followed me on Instagram and Twitter as well! For tips and strategy hours before being posted to the message boards follow on Instagram: JaketheCryptoKing and Twitter: JbtheCryptoKing. And now on Discord: https://discord.gg/qTjQp8W (join the group to reach me directly).
This month has been a miserable one for most traders. Since January 9th the market has pulled back approximately 50% (total market cap). That is a very sharp correction and one that has scared many individuals. Because of this I am writing a special that will be published later today/tomorrow regarding the current state of the market and February catalysts. The good news is as bad as January was, that is how great February will be! I can’t give away all the details of the article but between conferences, trends, and the futures traders, February will take the crypto world by storm! The analysis of the entire market coupled with February catalysts will be published and posted later today if not tomorrow. However, last night I analyzed how the arbitrage markets have all but evaporated and decided to do a special piece on it, that can be found here: https://btcmanager.com/bitcoin-arbitrage-markets-evaporating-2017-versus-2018/?utm_source=onesignal&utm_medium=push
I am hoping you all are enjoying my articles. If anyone has as specific topic they’d like covered, comment about it or shoot me a PM and I’d be happy to write on a special topic for you!
ICOs: My new favorite ICO opened 48hrs ago so the great news is the bonus is currently still highest (56%!), it does drop dramatically once they’ve reached soft cap which is already 65% of the way there. It is likely this bonus concludes in the next 48hrs and without the highest bonuses it is hard to guarantee you make a significant return on your ICO investment.
Vestarin:
Currently being heralded as, “The Hottest ICO of 2018.” Their soft cap is 2,000 ETH (half way there day 1) and until it is reached they are offering a 56% bonus. Currently 3000VST is given per ETH. This will decrease to 1500VST per ETH by the time of the actual ICO sale (we are in pre-sale currently). This means you will have made a 100% return heading into the beginning of the ICO if purchased at the pre-sale price. On the ICO ranking websites anything above a 4 is usually considered great. ICO Bench gave this a 4.7, currently the next best I can find is a 4.4. The ICO profile was a 4.9, team 4.6, vision 4.8 and product 4.4. These rankings are phenomenal and we are lucky enough to have the ability to purchase with a 56% discount. That means even if the coin hits the exchange at your exact purchase price you still make 56% in one month. That is a very impressive, “safe,” return. If the coin hits the exchange at a 100% premium, you’ve now made 312% because you were given a 56% bonus which also doubled. Vestarin is a fantastic 1-month play. The coin specializes in bringing crypto to small businesses and integrating the ability to pay for anything and everything via the Vestarin app (which you can download and checkout!). For a coin to be in this level of infancy, be rated 4.5/5+ on all the ICO sites and have such a strong team this is a great opportunity. As a great option for a February ICO or if you believe in the long term tech enjoy riding it out for 6 months. I’ve contributed a few ETH(as I do most ICOs I discuss) to this project, the investment choices is yours! 56%-300% seem like lovely returns, especially in this market. Referral Link: https://vestarin.io/?ref=38b3eff8baf56627478ec76a704e9b52
KYC Legal: referral: https://bookbuild.kyc.legal/?ref=23734776ffa2051a83eb8bc1 More than half way to its hard cap and it has the ability to solve one of the biggest issues in blockchain and ICOs. The Know Your Customer (the dreaded KYC form). If you’ve completed an ICO recently you know the form I’m talking about. The form they give you at the end, after you’ve sent your .5eth but before they will release their tokens. Basically stating you understand this market is unregulated, etc. Well a blockchain token has in essence solved this problem. I HATE KYC forms and if the KYC system was set up in a way in which you wouldn’t have to fill out that form repeatedly for every ICO it would be more convenient for all investors and ICO companies. KYC Legal intends to do just that. According to the founder DR, “This is a simple and quick way to complete client identification procedures, which can then be used to verify the client’s identity during various financial operations (so-called KYC (“know your customer”) requirements that financial institutions and companies working with the money of private individuals use to identify and verify counterparties before starting a financial transaction). This niche is completely untapped and I HATE KYC forms enough to think this is a brilliant idea. They are calling it a “Universal alternative to Personal IDs,” on the block chain. Brilliant concept and there are 2 days left to receive the 38% discount from the final price. A 38% gain prior to token sale completion is significant, imagine what will happen when the hard cap is reached and it hits the first exchange. KYC Legal: https://bookbuild.kyc.legal/?ref=23734776ffa2051a83eb8bc1
HireMatch – Monster meets the blockchain! They were at the Miami BTC conference and this is truly a fantastic concept. Hiring agencies have taken the internet by storm and assuming blockchain breaks into all sectors of business, the hiring sector is next! This is also a great ICO for U.S. based investors. They are located in Sunnyvale, CA. While the founders have significant experience in the hiring realm being the creators of Recruiter.com and other major recruitment agencies. Their coin symbol is HIRE and their ICO sale is ending fairly soon! With a very well connected team, already formed partnerships, and the ability for U.S. based investors to take place this is has potential to be a great coin! Please use my referral link: https://www.hirematch.io/APP/Register.aspx?id=44B726EC
submitted by JakeTheCryptoKing to u/JakeTheCryptoKing [link] [comments]

Cryptocurrency Terms And Definitions - Common Crypto Words To Know

The blockchain community is not left out when it comes to the use of jargon and phrases. The use of words that look strange to those who are not involved in crypto is totally inevitable. It’s definitely going to be difficult for anyone not in this space to understand words like “ERC20, ICO or gas. So in order to help such people out, we have made a list of the most common cryptocurrency terms and definitions. Please sit back and enjoy your ride.

Cryptocurrency Terms And Definitions
One can categorize these terms into various parts. First of all, we will deal with general cryptocurrency terms and definitions.

Blockchain
Blockchains are distributed ledgers which are secured by cryptography. Everyone has access to read the information on every blockchain which means they are essentially public databases but the data update can only be done by the data owners. In the case of blockchains, data doesn’t remain on a single centralized server, they are copied across hundreds of thousands of computers worldwide. Projects such as Ethereum, Vechain, EOS etc. fall under this class of technology.
Mining: The means of trying to ‘solve’ the next available block. One needs huge amounts of computer processing power to carry this out effectively. There is always a reward for doing this.
Mining rig: A specially designed computer that processes proof-of-work blockchains such as Ethereum. They consist of multiple high-end graphic processors (GPUs) so as to maximize their processing power.
Node: This is a computer that has a copy of the blockchain and is working to keep it in a good shape.
PoW: The full meaning of this is Proof-of-work. The Ethereum network currently makes use of this algorithm.
PoS: Its full meaning is Proof-of-stake. It is the proposed future algorithm for Ethereum. Those that own ETH will be able to lock up all or a portion of their ether for a given amount of time in order to ‘vote’ and generate network consensus instead of mining in its current form. Stakeholders will get rewards in form of ETH by doing so.
Fork: This takes places when a certain blockchain splits into two different chains. This usually happens in the crypto space when new ‘governance rules’ are infused into the blockchain’s code.
Software wallet: A crypto-currency storage that exists purely on a computer as software files. You can generate these kinds of wallets for free from diverse sources. MyEtherWallet (MEW) is one of the most popular sources around.
Hardware wallet: A device that one can securely keep cryptocurrency. People often say that these wallets are the most secure way to store cryptocurrency. Examples of the most common hardware wallet models around are Ledger Nano S and Trezor.
Cold storage: This is a way of moving your cryptocurrency from an online wallet to an offline one, as a means of safekeeping them from hack. There are a lot of ways to carry this out. Some methods that are commonly used include:
· Using a hardware wallet to store your cryptocurrency.
· By printing out the QR code of a software wallet and keeping it somewhere which is safe.
· You can also move the files of a software wallet onto an external storage device such as USB drive and keeping it somewhere safe.

Trading Related Cryptocurrency Terms And Definitions
Exchange: These are websites where people trade (buy and sell) their cryptocurrencies. Some of the popular crypto exchanges we have around include Binance, Poloniex, Bittrex etc.
Market order / market buy / market sell: A sale or purchase which is made on an exchange at the current price. A market buy acquires the cheapest Bitcoin available on the order book while a market sell fills up the most high-priced buy order on the books.
Limit order / limit buy / limit sell: These are orders which are placed by traders to buy or sell a cryptocurrency when the price reaches a certain amount. They are pretty much like ‘for-sale’ signs you see on goods.
Sell wall / buy wall: Cryptocurrency traders are able to see the current limit buy and sell points using a depth chart. The chart’s graphical representation is very much like a wall.
FIAT: Refer to a government-issued currency. An example is the US dollar.
Whale: A person who owns huge amounts of cryptocurrency.
Margin trading: This is an act of increasing the intensity of a trade by using your existing coins. It is very risky for an inexperienced trader to partake in this. Stay safe!!
Going long: This is a margin trade that gives profit if the price goes up.
Going short: It is a margin trade that gives profit if the price goes down.
Bullish: Being optimistic that the price of cryptocurrency is going to increase.
Bearish: This is an expectation that the price of cryptocurrency is going to decrease.
ATH: This simply means All-Time-High. This is the highest point that has been reached by a particular coin or token. Take for instance, Bitcoin’s ATH is about $20,000 and this was achieved around December 2017 and January 2018.
Altcoin: A word used to qualify other cryptocurrencies which is not Bitcoin. Examples of altcoins are Ripple, NEO, EOS, Vechain, Electroneum etc.
Tokens: These are ‘currency’ of projects which are hosted on the ethereum network. They raise money by issuing their own tokens to the general public. Tokens have a significant use in the project's ecosystem. Examples of tokens are Enjin Coin (ENJ), Zilliqa (ZIL), OmiseGO (OMG), Augur (REP) etc.
ICO: The full meaning is Initial Coin Offering. This is synonymous to an IPO in the non-crypto world. Startups give out their own token in exchange for Bitcoin or ether.
Shilling / pumping: An act of advertising another cryptocurrency. It is mostly done in a way that tricks as many people as possible into believing that a coin or token will get to a higher price in the future.
Market Cap: This is the total value of a cryptocurrency. To calculate this, one has to multiply the total supply of coins by the current market price. You can get a run-down of several cryptocurrency projects on Coinmarketcap.
Stable coin: This is a cryptocurrency which has an extremely low volatility. You can use a stable coin to trade against the overall crypto market.
Arbitrage: A situation where a trader takes advantage of a difference in the price of the same coin / token on two different exchanges.
FOMO: Simply means Fear Of Missing Out. That overwhelming feeling that one needs to get on board when there is a massive rise in the price of a commodity. This is also applicable in the crypto space.
FUD: Fear, Uncertainty, and Doubt. It is a baseless negativity which is spread intentionally by someone or a group of people who want the price of cryptocurrency to decrease.
FUDster: A person who spreads FUD.
Pump And Dump: This happens when an altcoin gets a ton of attention, leading to a massive increase in price, and likewise followed by a big price crash of that altcoin.
ROI: Return on Investment. The percentage profit a trader makes on an initial investment (i.e. A 100% ROI simply indicates that a trader doubled his money).
TA: Trend Analysis or Technical Analysis. A way of examining current coin charts so as to make predictions for the next market movement.

Next, we will be moving on to crytocurrency terms and definitions that are ethereum related.
Dapp: Decentralized Application. It is an application that uses a decentralized peer-to-peer network like Ethereum smart contract as its back-end code.
Bagholder: A person who still holds on to a particular altcoin despite having a pump and dump crash.
Smart contract: This is a code that is deployed onto the Ethereum blockchain, it often helps with the direct interaction of how money flows from one point to another.
The Flippening: A future event showing the capacity of Ethereum’s market cap (or some other cryptocurrency) surpassing Bitcoin’s market cap, making Ethereum the most ‘valuable’ crypto-currency.
Gas: It is a measurement of the amount of processing needed by the ethereum network to execute a transaction. More complex transactions like deploying a smart contract onto the network requires more gas than sending ether from one wallet to another which is obviously a simpler operation.
Gas price: This is the amount of ether an initiator of a transaction is willing to spend for each gas unit on a transaction. The higher the gas price, then the faster the processing of the transaction.
Wei: It is the smallest denomination of ether.
Gwei: This is a denomination of ether (ETH). Gwei is the unit for measuring gas prices. 1 Ether = 1,000,000,000 Gwei (109).
MEW: MyEtherWallet is a site where users can generate ethereum wallets for free.

We also have a handful of cryptocurrency terms and definitions that are memes. See some of them below;
Hodl: People use this word when signifying that a person is keeping his coins / tokens for a long period of time. A couple of years back, someone on a Bitcoin forum made a post with a typo HODL in place of HOLD. Ever since then, this term has become one of the most popularly used term in crypto.
Mooning: In crypto, this term comes to play when the price of cryptocurrencies move up astronomically.
Lambo: This is highly synonymous with crypto. You can't leave out this word when discussing about cryptocurrency terms and definitions. This is the car we’re all goona buy when crypto makes us rich.
This is gentlemen: People use this phrase when pointing out positive things that are currently taking place in the cryptosphere.

Now that you are conversant with some of the commonly used cryptocurrency terms and definitions, you can now go out there and showcase your new crypto vocabulary to the world.
submitted by Satonova19 to u/Satonova19 [link] [comments]

Blockchain Wallets

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What a Blockchain Wallet is? What is its purpose?
Find the answer after reading this article.
Public/Private Key
The public key is the digital code you give to someone that wants to transfer ownership of a unit of cryptocurrency to you; and a private key is what you need to be able to unlock your own wallet to transfer a unit of a cryptocurrency to someone else. The encoding of information within a wallet is done by the private and public keys. That is the main component of the encryption that maintains the security of the wallet. Both keys function in simultaneous encryption systems called symmetric and asymmetric encryption. The former, alternatively known as private key encryption, makes use of the same key for encryption and decryption. The latter, asymmetric encryption, utilizes two keys, the public and private key, wherein a message-sender encrypts the message with the public key, and the recipient decodes it with their private key. The public key uses asymmetric algorithms that convert messages into an unreadable format. A person who possesses a public key can encrypt the message for a specific receiver.
Accessing wallets
Methods of wallet access vary depending on the type of wallet being used. Various types of currency wallets on an exchange will normally be accessed via the exchange’s entrance portal, normally involving a combination of a username/password and optionally, 2FA (Two factor authentication, which we explain in more detail later). Whereas hardware wallets need to be connected to an internet enabled device, and then have a pin code entered manually by the user in possession of the hardware wallet in order for access to be gained. Phone wallets are accessed through the device on which the wallet application has been downloaded. Ordinarily, a passcode and/or security pattern must be entered before entry is granted, in addition to 2FA for withdrawals.
Satoshi Nakamoto built the Satoshi client which evolved into Bitcoin in 2009. This software allowed users to create wallets and send money to other addresses. However, it proved to be a nightmarish user experience, with many transactions being sent to incorrect addresses and private keys being lost. The MtGox (Magic the Gathering Online exchange, named after the original intended use of the exchange) incident, which will be covered in greater detail later, serves as a reminder of the dangers present in the cryptosphere regarding security, and the need to constantly upgrade your defenses against all potential hacks. The resulting loss of 850k BTC is a still unresolved problem, weighing heavily on the victims and the markets at large. This caused a huge push for a constantly evolving and improving focus on security. Exchanges that developed later, and are thus considered more legitimate and secure, such as Gemini and Coinbase, put a much greater emphasis on vigilance as a direct result of the MtGox hacking incident. We also saw the evolution of wallet security into the physical realm with the creation of hardware wallets, most notable among them the Ledger and Trezor wallets.
Types of Wallets & Storage Methods
The simplest way to sift through the dozens of cryptocurrency storage methods available today, is to divide them up into digital and non-digital, software and hardware wallets. There are also less commonly used methods of storage of private keys, like paper wallets and brain wallets. We will examine them all at least briefly, because in the course of your interaction with cryptocurrencies and Blockchain technology, it is essential to master all the different types of hardware and software wallets. Another distinction must be made between hot wallets and cold wallets. A hot wallet is one that is connected to the internet, and a cold wallet is one that is not. Fun fact: The level below cold storage, deep cold storage has just recently been implemented by the Regal RA DMCC, a subsidiary of an internationally renowned gold trading company licensed in the Middle East. After having been granted a crypto trading license, Regal RA launched their “deep cold” storage solution for traders and investors, which offers the ability to store crypto assets in vaults deep below the Almas Tower in Dubai. This storage method is so secure that at no point is the vault connected to a network or the internet; meaning the owners of the assets can be sure that the private keys are known only to the rightful owners.
Lets take a quick look at specific features and functionality of varieties of crypto wallets. Software wallets: wallet applications installed on a laptop, desktop, phone or tablet. Web Wallets: A hot wallet by definition. Web Wallets are accessible through the web browser on your phone or computer. The most important feature to recognize about any kind of web wallet, is that the private keys are held and managed by a trusted third party. MyEtherWallet is the most commonly used non-exchange web wallet, but it can only be used to store Ethereum and ERC-20 tokens.
Though the avenue of access to MEW is through the web, it is not strictly speaking a web wallet, though this label will suffice for the time being. The MEW site gives you the ability to create a new wallet so you can store your ETH yourself. All the data is created and stored on your CPU rather than their servers. This makes MEW a hybrid kind of web wallet and desktop wallet. Exchange Wallets: A form of Web Wallet contained within an exchange. An exchange will hold a wallet for each individual variety of cryptocurrency you hold on that exchange. Desktop Wallets: A software program downloaded onto your computer or tablet hard drive that usually holds only one kind of cryptocurrency. The Nano Wallet (Formerly Raiwallet) and Neon wallet for storage of NEO and NEP-5 tokens are notable examples of desktop wallets Phone Wallets: These are apps downloaded onto a mobile phone that function in the same manner as a desktop wallet, but actually can hold many different kinds of cryptocurrency. The Eidoo Wallet for storing Ethereum and its associated tokens and Blockchain Wallet which currently is configured to hold BTC, ETH and Bitcoin Cash, are some of the most widely used examples.
Hardware wallets — LedgeTrezoAlternatives
Hardware wallets are basically physical pathways and keys to the unique location of your crypto assets on the Blockchain. These are thought to be more secure than any variety of web wallet because the private key is stored within your own hard wallet, an actual physical device. This forcibly removes the risk your online wallet, or your exchange counter party, might be hacked in the same manner as MtGox. In hardware wallet transactions, the wallet’s API creates the transaction when a user requests a payment. An API is a set of functions that facilitates the creation of applications that interact and access features or data of an operating system. The hardware then signs the transaction, and produces a public key, which is given to the network. This means the signing keys never leave the hardware wallet. The user must both enter a personal identification number and physically press buttons on the hardware wallet in order to gain access to their Blockchain wallet address through this method, and do the same to initiate transfers.
Paper Wallets
Possibly the safest form of cryptocurrency storage in terms of avoiding hacking, Paper Wallets are an offline form of crypto storage that is free to set up, and probably the most secure way for users, from beginners to experts, to hold on to their crypto assets. To say it simply, paper wallets are an offline cold storage method of storing cryptocurrency. This includes actually printing out your public and private keys on a piece of paper, which you then store and save in a secure place. The keys are printed in the form of QR codes which you can scan in the future for all your transactions. The reason why it is so safe is that it gives complete control to you, the user. You do not need to worry about the security or condition of a piece of hardware, nor do you have to worry about hackers on the net, or any other piece of malware. You just need to take care of one piece of paper!
Real World Historical Examples of Different Wallet Types
Web Wallet: Blockchain.info Brief mechanism & Security Blockchain.info is both a cryptocurrency wallet, supporting Bitcoin, Ethereum and Bitcoin cash, and also a block explorer service. The wallet service provided by blockchain.info has both a Web Wallet, and mobile phone application wallet, both of which involve signing up with an email address, and both have downloadable private keys. Two Factor Authentication is enabled for transfers from the web and mobile wallets, as well as email confirmation (as with most withdrawals from exchanges). Phone Wallet: Eidoo The Eidoo wallet is a multi-currency mobile phone app wallet for storage of Ethereum and ERC-20 tokens. The security level is the standard phone wallet level of email registration, confirmation, password login, and 2 factor authentication used in all transfers out. You may find small volumes of different varieties of cryptocurrencies randomly turning up in your Eidoo wallet address. Certain projects have deals with individual wallets to allow for “airdrops” to take place of a particular token into the wallet, without the consent of the wallet holder. There is no need to be alarmed, and the security of the wallet is not in any way compromised by these airdrops.
Neon Wallet
The NEON wallet sets the standard for web wallets in terms of security and user-friendly functionality. This wallet is only designed for storing NEO, Gas, and NEP-5 tokens (Ontology, Deep Brain Chain, RPX etc.). As with all single-currency wallets, be forewarned, if you send the wrong cryptocurrency type to a wallet for which it is not designed, you will probably lose your tokens or coins. MyEtherWallet My Ether Wallet, often referred to as MEW, is the most widely used and highly regarded wallet for Ethereum and its related ERC-20 tokens. You can access your MEW account with a hardware wallet, or a different program. Or you can also get access by typing or copying in your private key. However, you should understand this method is the least safe way possible,and therefore is the most likely to result in a hack. Hardware: TrezoLedger Brief History Mechanism and Security A hardware wallet is a physical key to your on-chain wallet location, with the private keys contained within a secure sector of the device. Your private key never leaves your hardware wallet. This is one of the safest possible methods of access to your crypto assets. Many people feel like the hardware wallet strikes the right balance between security, peace of mind, and convenience. Paper Wallet Paper wallets can be generated at various websites, such as https://bitcoinpaperwallet.com/ and https://walletgenerator.net/. They enable wallet holders to store their private keys totally offline, in as secure a manner as is possible.
Real World Example — Poor Practices
MtGox Hack history effects and security considerations MtGox was the largest cryptocurrency exchange in the world before it was hacked in 2014. They were handling over 70% of BTC transactions before they were forced to liquidate their business. The biggest theft of cryptocurrency in history began when the private keys for the hot wallets were stolen in 2011 from a wallet.dat file, possibly by hacking, possibly by a rogue employee. Over the course of the next 3 years the hot wallets were emptied of approximately 650000 BTC. The hacker only needed wallet.dat file to access and make transfers from the hot wallet, as wallet encryption was only in operation from the time of the Bitcoin 0.4.0 release on Sept 23rd 2011. Even as the wallets were being emptied, the employees at Mt Gox were apparently oblivious to what was taking place. It seems that Mt Gox workers were interpreting these withdrawals as large transfers being made to more secure wallets. The former CEO of the exchange, Mark Karpeles, is currently on trial for embezzlement and faces up to 5 years in prison if found guilty. The Mt Gox hack precipitated the acceleration of security improvements on other exchanges, for wallets, and the architecture of bitcoin itself. As a rule of thumb, no small-to-medium scale crypto holders should use exchange wallets as a long-term storage solution. Investors and experienced traders may do this to take advantage of market fluctuations, but exchange wallets are perhaps the most prone to hacking, and storing assets on exchanges for an extended time is one of the riskiest ways to hold your assets.
In a case strikingly similar to the MtGox of 2011–2014, the operators of the BitGrail exchange “discovered” that approximately 17 million XRB ($195 million worth in early 2018) were missing. The operators of the exchange were inexplicably still accepting deposits, long after they knew about the hack. Then they proceeded to block withdrawals from non-EU users. And then they even requested a hard fork of the code to restore the funds. This would have meant the entire XRB Blockchain would have had to accept all transactions from their first “invalid” transaction that were invalid, and rollback the ledger. The BitGrailexchange attempted to open operations in May 2018 but was immediately forced to close by order of the Italian courts. BitGrail did not institute mandatory KYC (Know your customer) procedures for their clients until after the theft had been reported, and allegedly months after the hack was visible. They also did not have 2 factor authentication mandatory for withdrawals. All big, and very costly mistakes.
Case Study: Good Practice Binance, the Attempted Hack
During the 2017 bull run, China-based exchange Binance quickly rose to the status of biggest altcoin exchange in the world, boasting daily volumes that surged to over $4 billion per day in late December. Unfortunately, this success attracted the attention of some crafty hackers. These hackers purchased domain names that were confusingly similar to “binance.com”. And then they created sufficiently convincing replica websites so they could phish traders for their login information. After obtaining this vital info, the scammers created API keys to place large buy orders for VIAcoin, an obscure, low volume digital currency. Those large buy orders spiked VIA’s price. Within minutes they traded the artificially high-priced VIA for BTC. Then they immediately made withdrawal requests from the hacked BTC wallets to wallets outside of the exchange. Almost a perfect fait accompli! But, Binance’s “automating risk management system” kicked in, as it should, and all withdrawals were temporarily suspended, resulting in a foiled hacking attempt.
Software Wallets Web/Desktop/Phone/Exchange Advantages and Limitations
As we said before, it is inadvisable to store crypto assets in exchange wallets, and, to a lesser extent, Web Wallets. The specific reason we say that is because you need to deliver your private keys into the hands of another party, and rely on that website or exchange to keep your private key, and thus your assets, safe. The advantages of the less-secure exchange or web wallets, are the speed at which you can transfer assets into another currency, or into another exchange for sale or for arbitrage purposes. Despite the convenience factor, all software wallets will at some point have been connected to the internet or a network. So, you can never be 100% sure that your system has not been infected with malware, or some kind of keylogging software, that will allow a third party to record your passwords or private keys. How well the type of storage method limits your contact with such hazards is a good way to rate the security of said variety of wallet. Of all the software wallets, desktop and mobile wallets are the most secure because you download and store your own private key, preferably on a different system. By taking the responsibility of private key storage you can be sure that only one person has possession of it, and that is you! Thereby greatly increasing the security of your crypto assets. By having their assets in a desktop wallet, traders can guard their private key and enjoy the associated heightened security levels, as well keep their assets just one swift transfer away from an exchange.
Hardware Wallets Advantages and Limitations
We briefly touched on the features and operation of the two most popular hardware wallets currently on the market, the Ledger and Trezor wallets. Now it will be helpful to take a closer look into the pros and cons of the hardware wallet storage method. With hardware wallets, the private keys are stored within a protected area of the microcontroller, and they are prevented from being exported out of the device in plain text. They are fortified with state-of-the-art cryptography that makes them immune to computer viruses and malware. And much of the time, the software is open source, which allows user validation of the entire performance of the device. The advantages of a hardware wallet over the perhaps more secure paper wallet method of crypto storage is the interactive user experience, and also the fact that the private key must at some stage be downloaded in order to use the paper wallet. The main disadvantage of a hardware wallet is the time-consuming extra steps needed to transfer funds out of this mode of storage to an exchange, which could conceivably result in some traders missing out on profits. But with security being the main concern of the vast majority of holders, investors and traders too, this slight drawback is largely inconsequential in most situations.
Paper Wallets Advantages and Limitations
Paper wallets are thought by some to be the safest way to store your crypto assets, or more specifically, the best method of guarding the pathways to your assets on the Blockchain. By printing out your private key information, the route to your assets on the Blockchain is stored 100% offline (apart from the act of printing the private key out, the entire process is totally offline). This means that you will not run the risk of being infected with malware or become the victim of keylogging scams. The main drawback of using paper wallets is that you are in effect putting all your eggs in one basket, and if the physical document is destroyed, you will lose access to your crypto assets forever.
Key things to keep in mind about your Wallet Security: Recovery Phrases/Private Key Storage/2FA/Email Security
Recovery phrases are used to recover the on-chain location for your wallet with your assets for hardware wallets like ledgers and Trezors that have been lost. When you purchase a new ledger for example, you just have to set it up again by entering the recovery phrase into the display and the lost wallets will appear with your assets intact. Private key storage is of paramount importance to maintain the safety of your on-chain assets! This should be done in paper wallet form, or stored offline on a different computer, or USB device, from the one you would typically use to connect to the 2 Factor Authentication (2FA) sometimes known as “two step authentication”. This feature offers an extra security layer when withdrawing funds from cryptocurrency wallets. A specialized app, most commonly Google Authenticator, is synced up to the exchange to provide a constantly changing code. This code must be entered within a short time window to initiate transfers, or to log into an exchange, if it has also been enabled for that purpose.
You must always consider the level of fees, or the amount of Gas, that will be needed to carry out the transaction. In times of high network activity Gas prices can be quite high. In fact, in December 2017 network fees became so high that some Bitcoin transactions became absolutely unfeasible. But that was basically due to the anomalous network congestion caused by frantic trading of Bitcoin as it was skyrocketing in value. When copying wallet addresses, double check and triple check that they are correct. If you make a mistake and enter an incorrect address, it is most likely your funds will be irretrievably lost; you will never see those particular assets again. Also check that you haven’t input the address of another one of your wallets that is designed to hold a different variety of cryptocurrency. You would similarly run the very great risk of losing your funds forever. Or, at the very least, if you have sent the wrong crypto to a large exchange wallet, for example on Coinbase, maybe you could eventually get those funds back, but it would still entail a long and unenjoyable wait.
How to Monitor Funds
There are two ways to monitor you funds and your wallets. The first is by searching for individual wallet addresses on websites specifically designed to let you view all the transactions on a particular Blockchain. The other is to store a copy of your wallet contents on an application that tracks the prices of all cryptocurrencies. Blockchain.info is the block explorer for Bitcoin, and it allows you to track all wallet movements so you can view your holdings and all the historical transactions within the wallet. The Ethereum blockchain’s block explorer is called Ether scanner, and it functions in the same way. There is a rival to Ether scanner produced by the Jibrel Network, called JSearch which will be released soon. JSearch will aim to offer a more streamlined and faster search method for Ethereum blockchain transactions. There are many different kinds of block explorer for each individual crypto currency, including nanoexplorer.io for Nano (formerly Rai Blocks) and Neotracker for NEO. If you simply want to view the value of your portfolio, the Delta and Blockfolio apps allow you to easily do that. But they are not actually linked to your specific wallet address, they just show price movements and total value of the coins you want to monitor.
That’s not all! You can learn how to transfer and monitor the funds in and out of your wallet by clicking on the link.
To be continued!
UBAI.co
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submitted by UBAI_UNIVERSITY to u/UBAI_UNIVERSITY [link] [comments]

[uncensored-r/CryptoCurrency] Predictions for 2018 and lessons learned from trends in 2017

The following post by arsonbunny is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7qk781
The original post's content was as follows:
I'd like to take the time to reflect on the crazy year that was 2017 for cryptocurrency investors, and weigh in on what we've learned over the past year, while also making a few predictions for the future.
One year feels like a decade in crypto, and so many various forces finally cumulated together in 2017 that we had an explosion of activity that left me feeling both exhausted and exhilarated. We saw LTC go on Coinbase, we saw an ICO rush with new issues like Bancor raising 150mil in 3 hours, we saw the absurdity that is cryptokitties crushing the ETH network, we saw Bitcoin Cash and the shitshow surrounding that, we saw Segwit and the long awaited Bitcoin futures. I will always remember where I was at the moment I watched Bitcoin pass $10,000 on GDAX. I will never forget the sweat as I watched the Gemini Auction for my BTC and then waiting for the payment to settle. And I will never forget the flurry of questions, advice seeking and inquiries from people in December as the media spotlight made cryptocurrencies a mainstream concern. We've come a long way, from the days of being considered oddball technogeeks to now being the vanguard of early adopters.

Some major trends in 2017 and lessons learned

  • The Mainstreaming of Cryptocurrencies: This was the year that the "normies" entered crypto in astounding numbers, especially later in the year and cumulating in December. From Ice Tea companies to my hairdresser, everyone wanted to be involved in crypto. New naive money will continue to pump into the market this year, and its important we welcome them while also keeping their expectations grounded in reality. Encouraging new investors with stories of how they can double their investment in a week is not a sustainable method of keeping them interested in crypto.
  • ICO Craze: For many 2017 was the year that the ICO. People made a ton of money by getting into ICOs early before a coin became hyped by the marketing efforts. Sites like ICOBench sprung up and provided people an easy way to find new ICOs to invest in, and those who got in could get a handsome profit by buying the coins for pennies then selling them for dimes a few months later at an exchange, with many ICOs offering pre-sale discounts for early registrations. I suspect that this trend will actually die out in 2018 as there seem to be way too many coins coming out now and they won't all be able to pump, we're already seeing ICOs recently getting dumped hard the moment they start trading on an exchange.
  • The rapid development of altcoin investment: At the beginning of the year the marketcap for altcoins as just $2 billion. By the end of 2017 it grew to over $370 billion. This was the year that investing in cryptos became about more than just Bitcoin. We saw an explosion of new promising altcoins, Binance launched in July, LTC was added to Coinbase and Ethereum really came into its own as a dominant force. I suspect that this focus on altcoins will continue as its now easier than ever to research and obtain them.
  • Resilience in the face of regulation: China banned initial coin offerings and bitcoin exchanges in the first weeks of September. The ban caused a precipitous drop in cryptocurrency flows worldwide and invoked panic within me, with Bitcoin going down to almost $3K. However we recovered surprisingly quick. This is why I wasn't too concerned with the recent news that Korea may crack down on exchanges. Cryptocurrencies are decentralized and distributed, and while government actions certainly can hurt the price in the short term, I think any attempts at increased crackdowns will result in a recovery within a few months. Crypto seems to be a lot more resilient than most people realize to laws trying to destroy it, so don't freak out when you hear a story about increased regulation in the Far East.
  • Institutional money coming in: We saw the speculation of an ETF not come to fruition, but in December the CME Group and CBOE started trading futures on Bitcoin. The lead up to this event and the subsequent decline and relative stabilization of Bitcoin will lead to a cascade of effects. We now have a genuine price discovery mechanism that will put downward pressure on BTC with its futures contracts. McAfees predictions of a million dollar BTC are not going to come to fruition now that you can short it.
  • Chase for the "next bitcoin": Lambo psychosis dominated and continued into the new year with nearly every coin in the top 100 showing a steep parabolic rise. This is actually something a lot of long term investors find deeply troubling, because now people are hungry for crazy x10 gains within a month and that is simply unsustainable.

Some predictions for the year 2018

Decline for Bitcoin
I have a long-standing emotional connection to Bitcoin and really do want it to succeed. But by now even the early adopters have come to accept how far away we are from the original vision of the currency. We are now seeing a decrease in adoption among ecommerce sites, which a sad state of affairs. I'm not so confident that Lighning will be enough at this point. Lightning likely wont be here for at least another 1-2 years and the problem will be user adoption. Segwit gave users a 40% discount on fees, and was a relatively simple upgrade, yet its 2018 and only 8% of transactions come from Segwit addresses. LN is way more difficult to implement, so don't expect it to be useful for at least a year after release. Core developers should have followed through with the New York Agreement and increased the blocksize to 2 MB. It's actually much more practical to scale BTC through miners than users, as most miners abide by the rules of a small set of mining pools and use the same software. Segwit2X was doomed to failure but it had 90% support among miners before the campaign against it started, and even after it had over 70% miner support. I think 70% miner support before a fork is vastly better for initiating a change than 8% user support.
Core team really needs to wake up right away and realize that the continual declines in market dominance are a reflection of Bitcoins failure to find utility, and that the first movers advantage and name brand will not last forever. Unless it solves the problem of insane transaction fees, ballooned mempool size, long transaction times and most of the accounts not even being able to afford to move the balance out I don't see BTC doing anything but declining in market dominance.
Ethereum will become an even more dominant force
I can see the long awaited flipening come in 2018. Ethereum already processes way more transactions than anything else, it already is basically THE platform for new coins and powers so much of the entire cryptocurrency ecosystem. The Constantinople fork and Casper Proof-of-Stake changes should take care of the TPS limitations for the next few years, and I expect to see an explosion of dApps in 2018. Ethereum has tons of developer support behind it and POS means people will want to hold it for the long term. Its already become my #1 core/safe-haven position and I think a 3-5K range in 2018 is completely reasonable.
The emergence of transactable business-oriented blockchains
The last few years were about theory and technological innovation, but I think 2018 will be the year that cryptocurrencies finally start to demonstrate value in solving business problems.
Ultimately a cryptocurrency is pointless if it doesn't solve some transactional problem or alleviate some inefficiency in the value-exchange process. There are several sectors/cases for business users that are ripe for blockchain technology: supply chain, settlement layers between intercurrency transactions, payment processing, offloading processing tasks onto blockchains, identity management...etc.
I expect that transactable coins that actually have functionality will be the big winners. ICX, WTC, VEN, NEO, XLM and others that target enterprise-oriented use cases will likely be the focus over the next year.
The rise of a DAG coin as a standard for transfers between exchanges, most likely Raiblocks (XRB)
Lets be perfectly honest: Right now the vast majority of transactions being conducted on the blockchain is simply moving cryptos around various exchanges. Its quite a nerve-wracking process, watching thousands of dollars sitting unconfirmed on the blockchain explorer for hours is not a pleasant experience. If you move your balances a lot you will end up losing substantial money to transfer fees. This is why I can see a light fast DAG becoming a standard for inter-exchange transfers of funds, specifically XRB after it gets listed on Binance. Being a DAG the process of onboarding isn't as simple as just adding another ERC20 coin, but once the Raiblocks team figures this out on Binance I suspect that adoption will follow quickly to other exchanges. The quick transactions speed and no cost will make it the ideal coin to exploit arbitrage between less liquid and more liquid markets.
The rise of "dividend" coins"
The next year should be one where the stretched valuations are questioned, and those coins that pay out a form of dividend and can thus be easily valued will become a safe harbor. NEO, EOS, ARK, VEN,OMG among others should gain favor. We actually saw NEO do particularly well in this recent downturn. I expect to see a lot more also following this dividend payment model.
**The move away ...
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

[For Hire] Arbitrage scanner for cryptocurrencies

I am looking to find a developer to create a subscription site to find arbitrage opportunities between around 6 cryptocurrency exchanges.... like Bitterex, Binance, Bitfinex, Bitstamp, Poloniex, and Coinbase... I believe API can be pulled directly from exchange or third party like tradingview or coinmarketcap.
Please contact me with estimated cost and money down etc. would use escrow.com. Looking to get it done asap.
I want it to be subscription based on how many exchanges they want to find arbitrage opportunites. So the scanner will calculate a percentage difference as well...say Bitcoin costs $17,000 on Bittrex and $17,768 on Bitstamp... the scanner will calculate the percentage of money you can make at any given time.
(Also please tell me the best place to post this if it is not) Thanks
submitted by livenow222 to forhire [link] [comments]

Sprinklebit AMA

Transcript of the live Sprinklebit AMA on the OneX Discord Server:
Q: Do you see the sprinklebit exchange as a direct competitor to Coinbase and Robinhood? What coins and pairings will be listed? How will you establish a high level of liquidity to accomodate high volume trading?
A: yes we aim to deliver a superior experience to both Coinbase and Robinhood. We will use something called smart-routing to make sure that we have the best liquidity in the world. In simple terms it means that when you place an order for 1 BTC we match that with the lowest price including fees from all exchanges. So if the price is lower on e.g GDAX we automatically route the trade there. As the our orderbook grows the liquidity will stay within the exchange. We will start with top 5 pairings plus SCOI and PDI for the initial launch. Then we will add about 10 coins a month to the tradable. Regarding SCOI, it will be traded on multiple exchanges. It's a win-win. The exchange that adds our coin will be able to participate in our order-flow.
Q: Will there be fiat pairings on the exchange site , if so will it be a USD or USDT pairing ? In what stage are you of completing your platform to trade fiat pairs/altcoins. I know that Blockport comes out with it's alpha testing of a decentralized exchange that has similar features as you are stating within a month. Automatic lowest price exchanges, seem to be a new and upcoming trend. How is your exchange any better than the upcoming ones?
A: Yes, we have unique setup where the SprinkleBit group has a licensed brokerage firm in the US to handle USD pairings and payments. We also have a license to handle Euro in Europe. The key is the international reach and the conversion between a SCOI pairing and other types of securities. E.g you can exchange BTC for SCOI and the next second you can buy shares of AAPL with those SCOI.
Q: if I have btc, and I want to make a speculative investment in Amazon stock, how long would it take that order to settle? Basically what’s the user experience like when swapping a crypto asset for a traditional one?
A: this is instant
Q: You referred to order routing through to exchanges - this makes the website a merchant - therefore the exchange itself will charge a fee against the order placed, in addition to your own fee? Which also brings the question of what the fees will be like?
A: we are going to have tiered fees. Starting at 0.25% down to 0.05% depending on your account size and activity. And the routing will never add fees to your order, it will only make sure that you get the best price including any additional fees.
Q: How do you guys plan to capture some of the market share that has been snatched up by Coinbase and Gemini? What does your guys marketing plan look like? What milestones do you guys have currently set in terms of Marketshare, Concurrent Users, Volume, etc.
A: Coinbase will be the low hanging fruit. 1.49% fees is insane and our user experience will be even better then theirs. Not to mention the funding delays that they have. With us you have your funds within 24 hours of deposit or withdrawal.
Our marketing plan is to use SprinkleBit's social network to get our first 100k accounts and then we incentivize them to invite their friends for SCOI and other tokens.
Gemini is a bit different, that's more institutional and that will be step 2. Here is where the smart-routing comes in, we will reach out to institutional investors and tell them that they can now do crypto trading in a way that they are used to with equities and options. Namely to get the best price execution and reduce arbitrage.
Q: Will all funds be within 24 hours or will any be "instant"?
A: that will depend on account type and verification level. E.g if you are verified and have a margin account we can easily front you the cash until it settles in your account.
Q: Are you registered for the Bitlicense in the state of NY?
A: No, we are registered with FINRA and SEC https://brokercheck.finra.org/firm/summary/285216
Q: One thing that has really hurt exchanges involves customer support. How does your support staff look? How many reps does SprinkleBit currently have, and what is your current plan to adjust to exponential growth in the future?
A: This is where our synergies comes in. We already have a bot we call SprinkleBot that runs for SprinkleBit to help users getting started. This will be applied for managing onboarding new clients. Fun fact 92% of all Customer support questions for a brokerage are repeat questions that can be solved by a FAQ and a bot. The remaining 8% will be handled by two customer support teams, 1 in USA and 1 in Europe.
Q: In the long term (talking 1+ years), how does the ICO play out? Is the intended use the same as BNB for Binance?
A: Let's take a 30,000 feet view. SCOI will evolve into a clearing blockchain for any type of security. Meaning that we don't have to send Stock and Option trades to DTCC for clearing. We can toknize it and run it through a separate blockchain. It would then reduce the cost of trading with over 90%. It will also be used as a pairing mechanism between crypto and other asset classes. The value of such system is tied to the demand and supply. On the supply side we have a hard cap, on the demand side it's the total value of all assets that uses SCOI to trade and settle.
Q: Does/will SprinkleBit provide a 1099 to it's users or do they need to keep track themselves? (not looking for tax advice)
A: Yes, it will be a separate 1099 from your regular brokerage one. But to be clear, there are no reporting requirements set from IRS yet so I cannot comment on that.
Q: Can you comment about the level of security of the SprinkleBit exchange? How resistant will it be to hacks and DDoS attacks? There are many bad actors these days and people are wary of storing their Bitcoin on an exchange for prolonged lengths of time. In case of an incident is there any type of insurance offered for lost funds?
A: The biggest security exploits are inside jobs on exchanges. We will employ same bank-level security as we do for banks. This means that we already have procedures in place for handling sensitive data and employees does not have access to it. We have also constructed a cold/hot wallet solution that will minimize the risk of any hacking attempt. Regarding DDOS we will use Cloudflare to work against that (or CTO has more details on the technical solution)
Q: What is the intended total supply of the token itself, and is it capped? add-on : Is there a possibility of mining those tokens or any other way of accumulating those beyond purchasing them? (P.s. I will be investing in the ICO)
A: we have our goal of 350m tokens to be sold. However, if we do not sell them when the ICO is over we will burn the oversupply.
Q: Can you explain the Cash to Crypto concept and how it will benefit the average user?
A: Cast to Cryoto (C2C ) is something I am really excited about. It's our take on solving the underbanked people around the world. Anyone who has an approved KYC AML account can apply to become a vendor. This means that your local grocery store can become a vendor. You just go there with your bills and exchange them for SCOI. The vendor get a small exchange fee (this will be different based on geografi)
Q: Are there any strategic partnerships in place to add incremental value?
A: The strategic partnerships are all on the SprinkleBit side. It has more to do with increasing the ecosystem. So far we Swedbank (Scandinavian bank with 7.2 million clients), we have a partnership with Samsung that will promote our app, we have several large banks in Asia that is under contract but I will share those details when we can publicly go out with it.
submitted by OneXCapital to OneXCapital [link] [comments]

The Crypto King Report February 2nd: The Arbitrage is Gone! (New Article) and ICOs

The Crypto King Report February 2nd: The Arbitrage is Gone! (New Article) and ICOs
I am always asked where do I recommend trading, well 2 great exchanges allowing new traders are:
Binance: https://www.binance.com/?ref=15316928 Cryptopia: https://www.cryptopia.co.nz/Register?referrer=JaketheCryptoKing
I appreciate all my loyal followers! I am trying to build a social media presence and would love if you followed me on Instagram and Twitter as well! For tips and strategy hours before being posted to the message boards follow on Instagram: JaketheCryptoKing and Twitter: JbtheCryptoKing. And now on Discord: https://discord.gg/qTjQp8W (join the group to reach me directly).
This month has been a miserable one for most traders. Since January 9th the market has pulled back approximately 50% (total market cap). That is a very sharp correction and one that has scared many individuals. Because of this I am writing a special that will be published later today/tomorrow regarding the current state of the market and February catalysts. The good news is as bad as January was, that is how great February will be! I can’t give away all the details of the article but between conferences, trends, and the futures traders, February will take the crypto world by storm! The analysis of the entire market coupled with February catalysts will be published and posted later today if not tomorrow. However, last night I analyzed how the arbitrage markets have all but evaporated and decided to do a special piece on it, that can be found here: https://btcmanager.com/bitcoin-arbitrage-markets-evaporating-2017-versus-2018/?utm_source=onesignal&utm_medium=push
I am hoping you all are enjoying my articles. If anyone has as specific topic they’d like covered, comment about it or shoot me a PM and I’d be happy to write on a special topic for you!
ICOs: My new favorite ICO opened 48hrs ago so the great news is the bonus is currently still highest (56%!), it does drop dramatically once they’ve reached soft cap which is already 65% of the way there. It is likely this bonus concludes in the next 48hrs and without the highest bonuses it is hard to guarantee you make a significant return on your ICO investment.
Vestarin:
Currently being heralded as, “The Hottest ICO of 2018.” Their soft cap is 2,000 ETH (half way there day 1) and until it is reached they are offering a 56% bonus. Currently 3000VST is given per ETH. This will decrease to 1500VST per ETH by the time of the actual ICO sale (we are in pre-sale currently). This means you will have made a 100% return heading into the beginning of the ICO if purchased at the pre-sale price. On the ICO ranking websites anything above a 4 is usually considered great. ICO Bench gave this a 4.7, currently the next best I can find is a 4.4. The ICO profile was a 4.9, team 4.6, vision 4.8 and product 4.4. These rankings are phenomenal and we are lucky enough to have the ability to purchase with a 56% discount. That means even if the coin hits the exchange at your exact purchase price you still make 56% in one month. That is a very impressive, “safe,” return. If the coin hits the exchange at a 100% premium, you’ve now made 312% because you were given a 56% bonus which also doubled. Vestarin is a fantastic 1-month play. The coin specializes in bringing crypto to small businesses and integrating the ability to pay for anything and everything via the Vestarin app (which you can download and checkout!). For a coin to be in this level of infancy, be rated 4.5/5+ on all the ICO sites and have such a strong team this is a great opportunity. As a great option for a February ICO or if you believe in the long term tech enjoy riding it out for 6 months. I’ve contributed a few ETH(as I do most ICOs I discuss) to this project, the investment choices is yours! 56%-300% seem like lovely returns, especially in this market. Referral Link: https://vestarin.io/?ref=38b3eff8baf56627478ec76a704e9b52
KYC Legal: referral: https://bookbuild.kyc.legal/?ref=23734776ffa2051a83eb8bc1 More than half way to its hard cap and it has the ability to solve one of the biggest issues in blockchain and ICOs. The Know Your Customer (the dreaded KYC form). If you’ve completed an ICO recently you know the form I’m talking about. The form they give you at the end, after you’ve sent your .5eth but before they will release their tokens. Basically stating you understand this market is unregulated, etc. Well a blockchain token has in essence solved this problem. I HATE KYC forms and if the KYC system was set up in a way in which you wouldn’t have to fill out that form repeatedly for every ICO it would be more convenient for all investors and ICO companies. KYC Legal intends to do just that. According to the founder DR, “This is a simple and quick way to complete client identification procedures, which can then be used to verify the client’s identity during various financial operations (so-called KYC (“know your customer”) requirements that financial institutions and companies working with the money of private individuals use to identify and verify counterparties before starting a financial transaction). This niche is completely untapped and I HATE KYC forms enough to think this is a brilliant idea. They are calling it a “Universal alternative to Personal IDs,” on the block chain. Brilliant concept and there are 2 days left to receive the 38% discount from the final price. A 38% gain prior to token sale completion is significant, imagine what will happen when the hard cap is reached and it hits the first exchange. KYC Legal: https://bookbuild.kyc.legal/?ref=23734776ffa2051a83eb8bc1
HireMatch – Monster meets the blockchain! They were at the Miami BTC conference and this is truly a fantastic concept. Hiring agencies have taken the internet by storm and assuming blockchain breaks into all sectors of business, the hiring sector is next! This is also a great ICO for U.S. based investors. They are located in Sunnyvale, CA. While the founders have significant experience in the hiring realm being the creators of Recruiter.com and other major recruitment agencies. Their coin symbol is HIRE and their ICO sale is ending fairly soon! With a very well connected team, already formed partnerships, and the ability for U.S. based investors to take place this is has potential to be a great coin! Please use my referral link: https://www.hirematch.io/APP/Register.aspx?id=44B726EC
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Bitcoin Arbitrage. It is not hard to see the similarities between Bitcoin Arbitrage and Bitcoin Dealer. However, when it comes to exchanges, Bitcoin Arbitrage is more flexible, with support for ... 2. A Simplified Example of Arbitraging Bitcoin. Let’s take a simple arbitrage example in order to illustrate how arbitrage is done. At the time of writing, the price of Bitcoin on Bitstamp is $11,561 while the price of Bitcoin on CEX.io is $11,645.. The difference between prices is $84, and this is quite a decent opportunity for arbitraging. Arbitrage Crypto Trader gives possibility of a convenient inter-exchange arbitrage trade. You do not have to hire programmers to write bots for automatic trading, make up TK for them and try to explain what you need. The convenient interface of the program will help you to trade in a manual mode, as exchanges differ in design and functionality, which sometimes makes it difficult to create ... Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume If you’ve thoroughly researched how arbitrage works and you understand the risks involved, keep the following tips in mind before getting started: Look for new listings. Keep track of crypto forums and news sites for announcements of a new coin being added to an exchange. If a coin has only been recently added to an exchange and there is only ... The Pitfalls of Crypto Arbitrage Of course you, being a savvy investor, know that nothing in life is this simple. This form of trading comes with it’s own pitfalls, and it would be irresponsible ... I will talk more about Bitcoin arbitrage for Indians in upcoming posts, but today I have an exclusive post for you. Today, you will learn about some of the best sites in India where you can sell Bitcoin and earn money. Here is the updated list (Some of the sites are not listed below as they are launched recently and have great user experience) Wazirx (Direct bank withdrawal) Binance (P2P ... Today we will be making a simple arbitrage bot with python. I’m using binance and kucoin because crypto only exchanges are easy to put money on and they support all the coins that are fast ... Arbitrage is integrated with Binance, Bitfinex, Kraken and over 25 other crypto exchanges. If arbitrage is easy why so few people doing it? While the overall idea is great, the best opportunities don't last long. You need to be able to quickly monitor the markets and capitalize on the changes – a manual approach of monitoring the markets for arbitrage takes too much time and in many ways not ... The only catch here is that you can buy only bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash ABC (BCHABC) on Binance using a credit card. The second way to fund your Binance account is by transferring your assets from other exchanges that allow you to buy any altcoin using fiat to Binance’s wallet. Let’s understand this process by pretending that you are ...

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Binance tuto : meilleur site Trading Bitcoin Cryptos ...

In this video I demonstrate added functionality of Crypto Triangular Arbitrage Binance Bot such as collected data on Arbitrage Trading with a Profit/Loss tracking system and data logged to Crypto ... How I Made $3400 Profit In 3 Hours Almost Risk Free (Crypto Arbitrage Bitcoin Trading) - Duration: 12:45. King Money Mastery - Crypto Trading And Investments 15,026 views 12:45 In this video I discuss a simplified example of triangular arbitrage to cryptocurrency trading bot. Read more at https://medium.com/@BlockchainEng/how-to-cod... Live Bitcoin Trading With Crypto Trading Robot DeriBot on Deribit DeriBot Alternative channel 910 watching Live now 🔴 Bill Gates [Live] Microsoft, Bitcoin Crash, Anti-Bearish Coalition ... Crypto Base Trading Tool: https://qft.hodloo.com/ Sign up for Binance: http://www.cryptocamacho.com/binance Buy Bitcoin Cash on Coinbase – Get $10 Free http:... Mon tuto Binance sur comment faire ses premiers trades sur le plus gros site bitcoin et cryptomonnaie du monde ! Le lien pour t'inscrire sur Binance : http:/... ARBITRAGE TRADING BITCOIN sell bitcoin, earn with bitcoin, how to arbitrage and trade bitcoin How to Use Stock Market Scanners A cryptocurrency arbitrage opportunity calculator and trading bot A few of the exchange sites I also use are binance, bittrex and bitfinex, I find them about as good as each other to be honest but these have referral links so I figure I'd shill for them. [Bitmex ... How to make money with Bitcoin in South Africa Bitcoin is becoming a popular payment currency on the internet because their are almost no cost involved when trading with bitcoin. There are initial ... This video is obsolete, check out the new version here : https://www.youtube.com/watch?v=Rlx8LjHo9Jc Disclaimer: I am not a financial advisor nor is any cont...

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