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How to protect cryptocurrency

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How to protect cryptocurrency?

The word cryptocurrency came from two words cryptography and currency.

Currency: Currencies can be defined as some sort of economic buffer that someone earns in exchange for their service or goods provided. They can again later use these to get the service or products of their desire.

Cryptography: Cryptography, on the other hand, concerned with the protection of data provided to it by converting the ordinary texts into unintelligible text. And if needed to be reaccessed they can be converted back into plain texts. Modern cryptography deals with integrity which means information cannot be altered, the confidentiality that stands for information cannot be understood by anyone and authentication which sums up into the fact that the sender and receiver can confirm each other.

So now if we try to get the above definition mixed and try to understand cryptocurrency.

Cryptocurrency: Cryptocurrency stands as a medium of exchange value that prevails in the digital world and depends on encryption, which makes transactions secure. Cryptocurrency is a substitute for payment through cash, credit cards, and checks. The technology behind it lets you send it straight to others without going over the 3rd party like a bank. You don’t have to apply your social security or credit score as collateral. It is allowing you to be moderately pseudonymous.
In simpler words, cryptocurrencies are like virtual accounting systems. They keep a history of all transactions. The transactions are grouped into blocks, which are cryptographically signed from where it got the name “cryptocurrency,” and the client doing the signing receives some number of units of virtual currency as remuneration for doing the work of calculating the cryptographic signature.

Today we will be discussing some tricks to better protect your cryptocurrency from getting lost or being stolen. Every week there appears to be a new doomsday prophecy for bitcoin and the cryptocurrency market. I can’t safeguard your money from a crashing market, but I can assist you with some pretty straightforward, but often overlooked advice to protect your investments from theft and accidental destruction. I like focusing on the things that I can control, and one of those things is portfolio security. This article is not about buying or selling advice. These are some simple advice to keep you from having your funds stolen or lost.

ALWAYS SET UP 2 FACTOR AUTHENTICATION: Two-factor authentication is the best possible way to fight with hackers. When 2FA is established, no one can reach your accounts without submitting a 6-digit key. These codes are always changing each time you need them. So, it becomes almost impossible for someone to assume them and get access.

NEVER STORE COINS ON EXCHANGES LONG TERM: If an exchange is hacked, you can lose all the money, and no one can give you the guarantee if any exchanges can compensate their members for the lost coins in reality. So, my suggestion is that use a safe cryptocurrency wallet that is available right now.

AVOID SHARING INFORMATION ABOUT WHERE YOUR COINS ARE OR HOW MUCH YOU HAVE: I know it’s very tempting to boast about your coins to anyone who will listen. Many investors quickly found themselves “crypto rich” and can’t wait to tell everyone how much they made. But in today’s world where trusting a person is so difficult given the fact that they always want to put you down is very dangerous to give them access to your cryptocurrencies.

NEVER USE THE SAME USER NAME AND PASSWORD TWICE: If it was any other accounts then it’s a strict no to use different username and password every time you make a transaction but when it comes to cryptocurrency its what I will recommend to protect your money. A there is no mail account attached for recovery there can not be anything better to use a new username and password every time you make a transaction.

TRIPLE CHECK WALLET ADDRESSES BEFORE TRANSFERRING FUNDS: Before transferring always ensure you are sending the proper coin to the appropriate wallet type and that the wallet address is complete and matches correctly otherwise soon you will find yourself in big trouble.

DON’T STORE LARGE AMOUNTS OF COINS ON MOBILE WALLETS: Mobile wallets are the same as your real regular wallet. So, if you do not store a large amount in your actual wallet because of theft, why should you put that much in e-wallets for the hackers to loot us virtually.

ALWAYS LOG OUT OF YOUR DEVICES, EXCHANGES, AND WALLETS WHEN YOU’RE FINISHED WITH THEM: This is the most crucial part to protect your money. Always log out after finishing a transaction. It will help you big time in protecting your crypto assets.

I hope these simple tricks will make your life much more comfortable and happier as you can now better protect your cryptocurrencies. Maybe some of you were already following, and some of you learned new things. Do leave your comment about any other tricks that we missed out or how much this post helped you.

The post How to protect cryptocurrency appeared first on Crypto World SEO.

Source: https://cryptoworldseo.com/news/how-to-protect-cryptocurrency/

Blockchain

Yearn.finance Price Forecast: YFI Poised For A Rally To $35,000

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  • Yearn.finance bounces off support validating a key bullish outlook.
  • The formation of double-bottom pattern prints a positive picture for gains targeting $35,000.

The decentralized finance (DeFi) darling, Yearn.finance is resuming the uptrend after falling consistently from highs around $34,000, traded on September 27. The crypto encountered high selling pressure after another bounce from support established at $20,000 On September 24. The recent retreat held the ground at $21,800, breathing life into the bullish camp.

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At the time of writing, YFI is exchanging hands at $25,500 after adding more than 7% in gains over the last 24 hours. Its immediate upside is capped by the 50 Simple Moving Average (SMA) in the 4-hour range. For the bullish outlook to hold, YFI must step above this key moving average and make a daily close. It is from here that buyers will have the opportunity to shift their focus on higher levels such as $28,000 and $30,000.

Meanwhile, the bullish action also follows the formation of another double-bottom pattern. These types of chart patterns highlight key support areas and often help investors to time reversals from an extended downtrend. They also have a clear target on the upside, for instance, $35,000 for Yearn.finance.

YFI/USD 4-hour chart

YFI/USD price chart
YFI/USD price chart by Tradingview

From another technical perspective, the Relative Strength Index (RSI) seems to be validating the bullish outlook as it scales the levels towards the midline. Continued upward action on the road to the overbought would encourage more buyers to join the market, thereby creating the volume needed for the breakout to $35,000.

Yearn.finance Intraday Levels

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Spot rate: $25,500

Percentage change: 7%

Relative change: 1740

Trend: Bullish

Volatility: Expanding

Read more: Yearn.finance Technical Analysis: YFI rebound to $25,000 remains a challenge


To get the daily price analysis, Follow us on TradingView

Author: John Isige




John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

Source: https://coingape.com/yearn-finance-price-forecast-yfi-poised-for-a-rally-to-35000/

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Alpha Sigma Capital Acquires AirWire Token Platform

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Alpha Sigma Capital, a self-described “pioneering digital asset fund investing in emerging cryptocurrencies and blockchain companies” has completely acquired AirWire.

We don’t know how much it was for, but the acquisition includes “AirWire’s intellectual property, source code, user base, and WIRE tokens” as well.

AirWire will now conduct a buy-back program of the WIRE tokens already listed right now on Sistemkoin.

“All former users and account holders will be able to access their accounts and wallets on the platform. In the first half of 2021, AirWire will conduct a swap for the classic WIRE tokens in order to facilitate a migration to its new blockchain protocol, currently under redevelopment, migrating from the original PIVX blockchain that WIRE currently uses,” the release continues.

AirWire will be launching a beta this October, which will include the following features:

  • Technology that allows Clients Transmission of tokens on a targeted basis.  AirWire’s platform allows anyone to transmit tokens directly and securely through text, email, QR code, social media, or custom links, utilizing their Patent Pending technology.

  • Reward Earning System (Gig Economy) AirWire provides features that reward users and influencers with tokens listed on the platform when an activity is completed, such as retweeting a specific message provided by the token. Other earning activities are on the roadmap and will launch in 2021.

  • Advanced Advertising Reward Features. Advertisers can gain efficiency by offering rewards to users who accept and watch 100% of online video or message before the reward can be claimed.

Source: https://insidebitcoins.com/news/alpha-sigma-capital-acquires-airwire-token-platform

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President Maduro: Venezuela Seeks Opportunities To Use Cryptocurrency For Global Trade

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  • Venezuela’s cryptocurrency story continues as the country’s President Nicolas Maduro has presented new use cases. 
  • A recent report informed that the South American nation is studying the possibility of using digital assets in trades alongside the national Petro. 
  • President Maduro has presented new anti-sanctions law in the Constituent National Assembly. In a recent speech, he asserted:

“The anti-sanctions law is the first response to give new strength to the use of petro and other cryptocurrencies, national and global, in domestic and foreign trade, so that all cryptocurrencies of the world, state and private, could be used. This is an important project that is under development.”

  • The news comes after Maduro suggested last year that his country could adopt cryptocurrency payments.
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  • Additionally, Venezuela signed a new tax agreement this summer that enabled the nation to start collecting taxes and fees in the Petro.
  • A study reported by CryptoPotato revealed that digital assets already play an essential role in the country’s struggling economy. Venezuela’s intensifying financial crisis has catalyzed significant interest in cryptocurrencies as people seek opportunities to escape the devaluating national currency.
  • The Bitcoin peer-to-peer volume exemplifies the growing interest in the primary cryptocurrency within the country. As per data from coin.dance, the BTC P2P volume on LocalBitcoins has been continuously surging in the past several months.
Bitcoin P2P Trading Volume LocalBitcoins. Source: coin.dance
Bitcoin P2P Trading Volume In Venezuela on LocalBitcoins. Source: coin.dance
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Source: https://cryptopotato.com/president-maduro-venezuela-seeks-opportunities-to-use-cryptocurrency-for-global-trade/

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