HODL. DApp. Ethereum.

No, these are not words from a newly-discovered alien language. They’re among the many new and key terms in the language of cryptocurrency.

Cryptocurrency isn’t just a novel investment option, and in many ways represents a different world altogether compared to traditional stocks and bonds. Between unfamiliar acronyms, emerging technologies, and keeping up with memes and tweets, just learning the basics takes time, even for seasoned traditional investors.

As with any investment, it’s important to understand exactly what you’re investing in before you start. That’s especially true when it comes to a speculative — and still evolving — asset like crypto. 

There are a few prerequisites we recommend before you buy into crypto, like stocking your emergency fund, paying down high-interest debts, and securing a traditional retirement plan. And, like we’ve said before, you should only ever put into crypto what you’re willing to lose, and experts recommend dedicating no more than 5% of your portfolio to these digital assets. 

But another item you should add to your checklist is at least a beginner’s understanding of what you’re getting into, including how crypto differs from other investment strategies, and the different factors that can affect a cryptocurrency’s market value.

Here are some of the terms and phrases that will help beginners better understand the world of crypto investing. 

Crypto Terms You Should KnowAltcoin

Any coin that’s not Bitcoin. Altcoins can be anything from the second-most popular coin, Ethereum, to any of the thousands of coins with very minimal market value. Experts say you should largely stick to the bigger, more mainstream cryptocurrencies as an investment.

[RELATED]: Follow These Personal Finance Experts if You’re Curious About Crypto

The first and most valuable cryptocurrency, launched on Jan. 3, 2009. While its value has climbed steadily since then, it has seen wild fluctuations. In the past months alone, the price of Bitcoin has fluctuated from a record high of $60,000 to below $30,000.

Cash

A peer-to-peer electronic cash system that formed from a fork of the original Bitcoin. Where Bitcoin is widely accepted as too volatile to be useful as a currency, Bitcoin Cash is designed to be better optimized for transactions.   

[RELATED]: Bitcoin — The First Cryptocurrency

Block

Groups of data within a blockchain. On cryptocurrency blockchains, blocks are made up of transaction records as users buy or sell coins. Each block can hold only a certain amount of information. Once it reaches that limit, a new block is formed to continue the chain.

Blockchain

A digital form of record keeping, and the underlying technology behind cryptocurrencies. A blockchain is the result of sequential blocks that build upon one another, creating a permanent and unchangeable ledger of transactions (or other data).

Coin

A representative store of digital value that lives on a given blockchain or cryptocurrency network. Some blockchains have the same name for both the network and the coin, like Bitcoin. Others can have different names for each, like the Stellar blockchain, which has a native coin called Lumen. 

Coinbase

A popular centralized cryptocurrency exchange. Coinbase made history recently as the first cryptocurrency exchange to go public on the Nasdaq.

Cold Wallet/Cold Storage

A secure method of storing your cryptocurrency completely offline. Many cold wallets (also called hardware wallets) are physical devices that look similar to a USB drive. This kind of wallet can help protect your crypto from hacking and theft, though it also comes with its own risks – like losing it, along with your crypto.

[RELATED] A Crypto Wallet Can Help Keep Your Coins Safe. Here’s How to Decide if You Need One 

Cryptocurrency

A type of currency that’s digital and decentralized. Cryptocurrency can be used to buy and sell things, or as a long-term store of value.

Decentralization

The principle of distributing power away from a central point. Blockchains are traditionally decentralized because they require majority approval from all users to operate and make changes, rather than a central authority.

Decentralized Finance (DeFi)

Financial activities conducted without the involvement of an intermediary, like a bank, government, or other financial institution. 

Decentralized Applications (DApps)

Applications designed by developers and deployed on a blockchain to carry out actions without intermediaries. Decentralized finance activities are often completed using decentralized apps. Ethereum is the main network supporting activities in decentralized finance.

Digital Gold

Experts sometimes compare specific cryptocurrencies to real gold based on the way it can store and increase in value. Bitcoin is commonly referred to as digital gold.

Ethereum

The second largest cryptocurrency by trade volume, Ethereum is a crypto network and software platform that developers can use to create new applications, and has an associated currency called ether.

Exchange

A digital marketplace where you can buy and sell cryptocurrency.

Fork

When a blockchain’s users make changes to its rules. These changes to the protocol of a blockchain often result in two new paths — one that follows the old rules, and a new blockchain that splits off from the previous one. (Example: a fork of Bitcoin resulted in Bitcoin Cash).

Gas

A fee that developers have to pay to the Ethereum network in order to use the system. Gas is paid in ether, the native cryptocurrency of Ethereum. 

Genesis Block

The first block of a cryptocurrency ever mined. 

HODL

Stands for “Hold On for Dear Life” though the term originated from a user typo on a Bitcoin forum in 2013. It refers to a passive investment strategy in which people buy and hold onto cryptocurrency — instead of trading it — in the hopes that it increases in value. 

[RELATED]: The Price of Bitcoin Continues to Fall. Here’s How Worried Investors Should Be, According to Experts

Halving

A feature written into Bitcoin’s code in which after a certain number of blocks are mined (typically every four years) the amount of new Bitcoin entering circulation gets halved. The halving can have an impact on Bitcoin’s price.

Hash

A unique string of numbers and letters that identify blocks and are tied to crypto buyers and sellers.

Hot Wallet

A software-based cryptocurrency wallet connected to the Internet. While more convenient for quickly accessing your crypto, these wallets are a bit more susceptible to hacking and cybersecurity attacks than offline wallets — just as files you store in the cloud may be more easily hacked than those locked in a safe in your home.

Initial Coin Offering (ICO)

A way that funds are raised for a new cryptocurrency project. ICOs are similar to Initial Public Offerings (IPOs) of stocks.

Market Capitalization

For cryptocurrency, market cap refers to the total value of all the coins that have been mined. You can calculate a crypto’s market cap by multiplying the current number of coins by the current value of the coins. 

Mining

The process whereby new cryptocurrency coins are made available and the log of transactions between users is maintained. 

Node

A computer that connects to a blockchain network.

Non-fungible Tokens (NFTs)

Non-fungible tokens are units of value used to represent the ownership of unique digital items like art or collectibles. NFTs are most often held on the Ethereum blockchain.

[RELATED] Ethereum: What You Should Know Before You Invest

Peer-to-peer

Two users interacting directly without a third party or intermediary. 

Public Key 

Your wallet’s address, which is similar to your bank account number. You can share your public wallet key with people or institutions so they can send you money or take money from your account when you authorize it.

Private Key

The encrypted code that allows direct access to your cryptocurrency. Like your bank account password, you should never share your private key. 

Satoshi Nakomoto

The pseudonymous creator of Bitcoin. No one knows the true identity of Nakomoto — or if it’s more than one person.

Smart Contract

An algorithmic program that enacts the terms of a contract automatically based on its code. One of the main value propositions of the Ethereum network is its ability to execute smart contracts. 

Stablecoin or Digital Fiat

A stablecoin pegs its value to some other non-digital currency or commodity. A digital fiat represents a fiat, or government-backed currency on the blockchain. (Example: Tether, which is pegged to the U.S. dollar)

[RELATED]: The 10 Most Popular Cryptocurrencies, and What You Should Know About Each Before You Invest

Token

A unit of value on a blockchain that usually has some other value proposition besides just a transfer of value (like a coin). 

Vitalik Buterin

Programmer who invented Ethereum in 2015.

A place to store your cryptocurrency holdings. Many exchanges offer digital wallets. Wallets may be hot (online, software-based) or cold (offline, usually on a device).

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If you’ve heard of any cryptocurrency exchange, it’s probably Coinbase. Bitcoin early adopters have been buying and trading coins on Coinbase since 2012, but the platform gained mainstream attention in 2021 when it became the first crypto exchange to go public on the Nasdaq.

Today, more than 56 million users are trading over $300 billion worth of cryptocurrency on Coinbase each quarter. It has the third-highest trade volume of all exchanges, according to crypto data firm CoinMarketCap.

Here’s what you need to know about buying, selling, and holding cryptocurrency on Coinbase:

No matter where you buy it, cryptocurrency is a highly volatile , speculative investment. Only invest in crypto what you’re prepared to lose , and make sure you have other financial priorities in place first: save money in an emergency fund , contribute to retirement savings , and pay off any high-interest debt balances.

Simple interface for beginners

Educational tools

More than 50 cryptocurrencies to choose from

Strong security measures

High fees compared to some other exchanges

No control of your own private keys when you keep coins on your account

Coinbase supports more than 50 different cryptocurrencies. You’ll find each of the most common cryptos listed on Coinbase, including the following:

Different coins have different trading restrictions and minimum/maximum withdrawal amounts. Some can only be traded for certain fiat currencies like the U.S. dollar or converted to/from other cryptocurrencies. You may also be restricted from trading some coins based on the country or state you’re located in. Coinbase’s website offers an overview of these restrictions for each of its supported cryptocurrencies.

One of Coinbase’s biggest drawbacks compared to other exchanges is its pricey fee schedule. 

When you make a cryptocurrency transaction on Coinbase — like buying Bitcoin, or exchanging your Ethereum back into U.S. dollars — you’ll be charged both a spread and a Coinbase fee. 

The spread is the difference (or margin) between the market price and the price you actually pay for a purchase or receive for a sale. You can compare it to the commission or trading fee you might pay when you invest using a brokerage account. 

Coinbase’s spread is equal to about 0.50% of your crypto sales and purchases, though it can fluctuate based on the market. For cryptocurrency conversions — trading Bitcoin for Ethereum, for example — you may be charged a spread of up to 2.00%, based on market fluctuations. However, there’s no Coinbase Fee for converting your crypto coins to other cryptocurrencies.

The Coinbase Fee can also vary, depending on your payment method, location and other factors. It may be either a flat fee or a percentage of your transaction, but will always be the greater between the two.

Here’s a comparison of the flat vs. percentage Coinbase fee for U.S. users:

So if you buy $50 worth of Bitcoin on Coinbase through a bank transfer, you’ll be charged a spread of about $0.25, as well as the $1.99 flat fee (since that’s greater than the 1.49% alternative fee). That means you’ll actually end up with about $47.76 worth of Bitcoin. That may not seem like much, but it adds up the more you buy.

You can also choose to deposit cash into your Coinbase USD wallet, and buy crypto from that wallet later on (for the 1.49% fee described above). Because crypto prices move so quickly, keeping USD in your Coinbase wallet can help you avoid potentially lengthy bank transfers — like if you want to act on a sudden price drop, for example. Here are the fees associated with depositing USD into Coinbase:

Unlike cash in the bank, cryptocurrency is not protected under any federal regulations. 

Coinbase says it stores 98% of customers’ crypto offline, in cold storage (the remaining 2% is used to facilitate trading volume). The exchange also has an insurance policy to protect crypto holdings. Experts say robust measures such as this are why a mainstream exchange like Coinbase might be worth the extra fees.

Still, there’s no guarantee that your coins will be restored to your wallet if your crypto is stolen in a massive security breach. In that case, “we will endeavor to make you whole,” Coinbase says on its website. “However, total losses may exceed insurance recoveries so your funds may still be lost.” 

The insurance policy also does not cover losses that result from unauthorized access to your personal account. In other words, if your identity is stolen or someone figures out your Coinbase account password and steals from your wallet, you may not be able to recover it. 

Though it can be helpful for faster trades, most people don’t need to store cash on Coinbase (just as you wouldn’t keep uninvested cash in a conventional investment account). But any cash holdings you do keep on the exchange are pooled with other users in one of three ways: held in U.S. bank accounts, or invested in U.S. Treasuries or money market funds. You have no say in which method your cash is kept, but Coinbase says the money kept in bank accounts as cash is FDIC-insured up to the current maximum of $250,000. 

Other security measures include 2-step authentication, biometric logins (like fingerprint and Face ID), and data encryption. Always protect your own personal security by using strong passwords, not repeating passwords across accounts, enabling 2-factor authentication, and monitoring your accounts regularly for any unauthorized activity.

In general, experts say it’s smart to stick to cryptocurrency exchanges that are popular and already have a large customer base. Coinbase is arguably the most well-known of traditional cryptocurrency exchanges, and has been around for a long time compared to many others. Its recent appearance on the Nasdaq also means users can get a better glimpse into the health of Coinbase as a platform, since its financials are now public.

Education is a big part of investing in crypto, especially for beginners. Coinbase offers a Coinbase Learn hub with beginner’s guides to different coins and uses of cryptocurrency, regular updates about what’s going on in the market, and recommendations for more resources.

It also incentivizes users to actively learn through Coinbase Earn. You can watch short videos and take quizzes about specific altcoins, and Coinbase will deposit a small amount of that crypto into your wallet as a reward.

Coinbase offers different options when it comes to crypto storage.

First, you can store your crypto on Coinbase. This is the simplest option — just log into your account, buy your crypto, and leave it within your account. You won’t have access to your private keys by doing this; instead, your coins’ security will rely on Coinbase’s security measures (and your own account protections).

You can also choose to move your holdings onto Coinbase’s separate hot wallet software, Coinbase Wallet. This is a separate app that you would download, and unlike keeping your coins on Coinbase, does give you control over your private keys. That control means you can do more with your crypto, like move coins between wallets and participate in other decentralized finance activities that require crypto transfers and payments outside the exchange. But if you’re just looking to buy and hold Bitcoin or another crypto for its value as an asset, it’s not necessary.

Coinbase offers another free exchange platform called Coinbase Pro, which charges lower fees and additional features for people interested in actively trading crypto. 

If you’re just starting out and learning about cryptocurrency — or you’re interested in crypto as a long-term store of value — Coinbase Pro’s advanced features are probably not necessary. But if you’re looking to buy and sell coins more actively, Coinbase Pro offers additional tools and reports, as well as cheaper trades, that you might benefit from.

Coinbase’s easy-to-use interface, educational tools, and strong security measures make it a great choice for anyone looking to begin investing in cryptocurrency. 

If you’re just looking to put some extra cash into Bitcoin as a long-term investment, Coinbase simplifies the process. You can simply buy your coins, leave them on Coinbase, and track their value over time.

But it’s also a good option to grow with you as you learn more about crypto. It’s not lacking in any major services you would find elsewhere, between numerous different currency offerings and the Coinbase Wallet option. If you do eventually choose to invest beyond Bitcoin or hold your own private keys, Coinbase is still a great starting point. 

The biggest downside to Coinbase is its fees, which can be higher than some other exchanges. However, for most general investors, they’re a small price to pay for the convenience, range of features, and security you’ll get in return.

Investing in cryptocurrency is inherently risky, and your crypto is a speculative asset at best. But if you’re OK with the risk (and have your other financial priorities covered), Coinbase is a secure and legitimate exchange to use. 

You can’t protect your holdings from market fluctuations, but Coinbase has a relatively longstanding reputation and secure safety measures in place to protect the money you put into it.

You can withdraw your money from Coinbase back to your bank. You’ll just need to sell your cryptocurrency on the exchange. The money from the sale will enter your USD Wallet on Coinbase, and then you can withdraw the funds to your bank. 

You can also send crypto from your Coinbase account to your own wallet as long as you have your wallet address, though you may incur a fee.

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Investors are more interested than ever in cryptocurrency. Criminals are too.

Reports of cryptocurrency crimes have increased 312% per year on average since 2016, according to a report from Crypto Head, a cryptocurrency news outlet that used Federal Trade Commission data to analyze cryptocurrency crime trends in recent years. These crimes can include everything from hackers stealing investors’ coins to people falling for scams related to crypto investing.

A cold wallet — an offline device not connected to the internet— is the safest place to keep your crypto investment, according to experts.

Bitcoin has the most crime reports of any cryptocurrency, which makes sense since it’s also the oldest and most-widely held crypto. Beyond digital crimes, Bitcoin’s safety as an investment is often questioned thanks to the frequency and scale of its value fluctuations.

Despite an increase in fraud and theft, many experts tout the safety of Bitcoin investments — at least in terms of cybersecurity if not investment stability — thanks to secure blockchain technology. So, is investing in Bitcoin safe? Here’s what you need to know about Bitcoin’s safety as an asset and keeping your cryptocurrency secure if you invest.What to Consider Before Buying Bitcoin

First things first: The money you put into Bitcoin is not safe from value fluctuations.

Bitcoin is a volatile investment. If you’re looking for a “safe” investment with guaranteed returns, then don’t invest in Bitcoin — or any cryptocurrencies for that matter. Just over the past few months, the price of one Bitcoin has fluctuated between $30,000 and $60,000. Bitcoin isn’t the only volatile cryptocurrency, and other, smaller coins may be even riskier. 

“Understand that these are very volatile investments, so if big fluctuations cause you to lose sleep, this isn’t the space for you,” says Dan Herron, a CFP with Elemental Wealth Advisors in San Luis Obispo, California.

Experts recommend keeping any cryptocurrency investments to less than 5% of your portfolio for exactly that reason — and to make sure you’ve got a solid conventional retirement investment plan in the first place. It’s also recommended you have an emergency fund and pay down any high-interest debts before you put any money into Bitcoin or any other cryptocurrency.

(Read More: Here’s How Much of Your Investing Portfolio Should Be in Crypto, According to 5 Experts)

What Are the Risks Associated With Bitcoin?

The biggest security concern for many people when it comes to Bitcoin investing — like any other digital activity — is the risk of hacking and fraud. Cryptocurrency crimes are on the rise, according to data from the Federal Trade Commission, and resulted in a median loss of $1,900 per report between October 2020 and March 2021.

Often, reported crypto crimes involve scammers requesting payment in cryptocurrency, or sending unsolicited offers to help you make money or increase your holdings, according to the FTC. “One sure sign of a scam is anyone who says you have to pay by cryptocurrency,” the agency says. You should also avoid any unsolicited offers related to crypto; do your own research and buy your coins yourself using a reputable crypto exchange. Other types of scams to look out for

Initial coin offerings (ICOs) for fake cryptocurrencies

When a cryptocurrency is offered to investors before it’s launched to the market, it’s called an ICO (similar to a new stock’s IPO). But sometimes these new coin offerings can be fabricated, leading investors to put their money in a cryptocurrency that doesn’t actually exist. 

Always research any cryptocurrency before you invest. If it looks too good to be true, it probably is. Read the project’s white paper and check out the founders as part of your research. For most investors — and especially beginners — it’s smart to stick to established, popular coins like Bitcoin or Ethereum.

Crypto pump and dump schemes 

A small group of investors may pump a lot of money into a specific crypto, falsely inflating the price while convincing private investors to also invest. Then the original investors sell their shares for a profit before the price falls again. This type of scheme exists for more traditional investments, too.

Again, if an investment seems too good to be true, it probably is. Watch out for coins that have risen a lot in value without any clear reason why, the Crypto Head report recommends. This may be a sign of a pump and dump scheme.

How to Keep Your Bitcoin Safe

Hackers can gain access to individuals’ crypto wallets or breach entire cryptocurrency exchanges to steal their holdings. That’s why it’s essential to store your crypto in a safe place, and practice good digital security habits.

Cryptocurrency exchanges and third parties offer storage for your coins through hot wallets, which are secure, but still online (and therefore still susceptible to hacking). Crypto held on an exchange or in a wallet is not FDIC-insured like money in the bank. Make sure you trade and hold your crypto on a platform that offers robust security measures — including keeping a significant amount of holdings in its own cold storage and two-factor authentication for users. Some exchanges may even have private insurance policies in case of theft or hacking.

For the best protection against online fraud, many experts recommend cold storage through an offline device not connected to the internet, similar to a USB drive. But even cold storage comes with risks, like the possibility of losing access to your investment completely if you forget your password. 

(READ MORE: A Crypto Wallet Can Help Keep Your Coins Safe. Here’s How to Decide If You Need One)

Security vs. Privacy 

While you can take measures to secure your crypto holdings from hacking and theft, Bitcoin may not be any more effective at keeping your personal information private than any other traditional investment. 

“Security and privacy are two separate topics,” says Kiana Danial, author of “Cryptocurrency Investing for Dummies” and the personality behind @Investdiva on Instagram.

While trades you make in Bitcoin may be harder to trace than credit card purchases or direct bank withdrawals, Bitcoin transactions are not private. Bitcoin trades are tied to a hash code — a string of letters and numbers —  that are unique to you, says Ollie Leech, learn editor at CoinDesk, a leading cryptocurrency news outlet.  

“You’re really not anonymous, more like pseudonymous,” says Galen Moore, director of data and indexes at CoinDesk. While your activity isn’t directly tied to personal details like your social security number, the blockchain is public and there are ways that people can identify you.  

But even though Bitcoin transactions aren’t private, that doesn’t mean every user can see exactly how much everyone else has bought or sold. 

“In order to download the Bitcoin blockchain you would need massive, massive, computing capacity, like a supercomputer,” says Danial. “The day-to-day average Joe can’t go in and see what transactions are happening in the Bitcoin blockchain.” 

If you want total privacy when you transact, then neither Bitcoin nor Ethereum — the second largest cryptocurrency by market capitalization — are for you. Other smaller cryptocurrencies are designed for this total privacy, though experts recommend avoiding these lesser known cryptos as an investment.

(READ MORE: Ethereum: What You Should Know Before You Invest)

“With Bitcoin and Ethereum, all those transaction details being open is part of how the network is maintained as people watch,” says Moore. The open system helps the blockchain retain accountability. 

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Investing in crypto may be easier and faster than ever — you can now opt to invest through online brokers like Robinhood and SoFi Invest or crypto exchanges like Coinbase and Gemini— but it’s far from being a foolproof venture. Many of the same risks and pitfalls that vexed crypto pioneers can still cause headaches for those entering the field today. That’s not to say that navigating the crypto universe requires a masters in computer science or finance; rather, it just means that some of the financial resources, protections and patterns investors have come to expect when trading stocks and bonds will be different when trading crypto.  Learning the rules of this new digital investment game is essential and could potentially save you from making mistakes worth thousands, or even millions of dollars. Here are a few mistakes that new crypto investors often make when they get started, as well as some things to consider before taking the plunge.

If you decide to buy Bitcoin, make sure it’s the genuine article. One of the biggest mistakes new investors make is buying the wrong coin. Just because it has ‘Bitcoin’ in its name doesn’t mean it’s a Bitcoin. There’s Bitcoin Cash, Bitcoin Gold, Bitcoin SV, Bitcoin Private and dozens of other direct offshoots of the original cryptocurrency that have the word “Bitcoin” in its name. That’s not to say that these offshoots are bad or scams, it’s just that they aren’t the original Bitcoin that has become widely traded and quoted. But if you do buy the wrong coin, it isn’t the end of the world. You can always sell it back and buy the right one, hopefully at a profit.  

Ready to get into crypto? You can buy Bitcoin, Ethereum and other cryptocurrencies via online brokers like Robinhood and SoFi Invest or crypto exchanges like Coinbase, Gemini or eToro.

You’re going to need nerves of steel if you get into this space because the volatility is extreme. “Compared to the analog world or the traditional finance world, volatility is kind of off the charts,” Theresa Morrison, a certified financial planner in Arizona, told Marketwatch.

Morrison recommends that new investors commit a nominal sum at first, even as low as $50 a month, to an established cryptocurrency they understand, and then to forget about it. The swings in volatility are such that if an investor is constantly eyeing the market it could drive them crazy.  Furthermore, if you’re new to the crypto world, you may want to stick to cryptocurrencies that you know and understand at first. “I like my clients to look at established coins first – the ‘Blue Chips’ of crypto, if you will, namely Bitcoin and Ethereum,” says Erik Goodge, an independent certified financial planner based in Indiana.

Believe it or not, many new and veteran cryptocurrency traders have lost money sending their coins to the wrong place. Unlike a bank wire transfer that can be halted or a check that can be canceled, there’s often no recourse if you make a fat-finger error. 

“I got a good buddy who was trading Stablecoins and he sent USDT to a USDC address and lost $4,000,” Adam Blumberg, a financial planner in Houston, recounted. “He texted me saying that this transaction is two days old and he doesn’t know what’s going on. When he sent me the transaction I told him he had accidentally sent it to a USDC account and asked me if he could call them to fix it and I was like ‘no, it’s gone – you should have called me first before you did this.’”

Ready to get into crypto? You can buy Bitcoin, Ethereum and other cryptocurrencies via online brokers like Robinhood and SoFi Invest or crypto exchanges like Coinbase, Gemini or eToro.

While there will only be 21 million Bitcoins that will ever be mined, less will trade because many of them are simply lost forever as people have forgotten the passwords to their digital wallet. You often can’t call somebody to reset your password, if you forget it or lose it then you’re locked out. Around 20% of the Bitcoins mined so far are lost in stranded wallets, according to Chainalysis, a cryptocurrency data firm. Therefore, how you store your password is critical and needs to be thought out in advance before you start trading. Writing it down on a piece of paper is the first step but even that has its own concerns as it can then be stolen and used by someone else. Also, paper is not the most durable material. “I have clients who wrote down their passwords and kept them in a special place in their house,” Blumberg said. “But a couple of years ago, when Houston was hit with those terrible floods,” many of those carefully hidden passwords dissolved in swamp water.

Blumberg recommends putting the password in a flood-safe and fire-proof container or keeping it in a bank safety deposit box. As an alternative to writing it on paper, he has seen some clients get their passwords stamped on metal that can resist the elements.

Ready to get into crypto? You can buy Bitcoin, Ethereum and other cryptocurrencies via online brokers like Robinhood and SoFi Invest or crypto exchanges like Coinbase, Gemini or eToro.

About the author: Cyrus Sanati has been a financial journalist and columnist for nearly two decades, covering a wide variety of topics from the energy markets to digital currencies. His work can be seen in a variety of publications, including The Wall Street Journal, The New York Times, Fortune Magazine and Breakingviews. He is a graduate of UCLA and earned post-graduate degrees in journalism and business from Columbia University. 

Also see: What you need to know to start investing in cryptocurrency right now

Bitcoin and cryptocurrencies captured our rapt attention with their amazing gains, creating newly minted millionaires and billionaires. There’s also talk about the volatility associated with buying digital assets and the recent sell-off in Bitcoin, along with other coins. What’s left out of the conversation is the dire need for top talent to work at these fast-growing companies. 

The U.S. economy and job market have roared back to life. Businesses—ranging from small mom-and-pop restaurants to investment banks—are engaged in a heated war for talent. Companies complain that they can’t keep up with customer demands and find enough suitable workers to satiate their needs.  

The lack of experienced talent is particularly problematic within the turbo-charged crypto community. The exchanges need highly specialized professionals, such as software engineers, compliance, legal, risk management, marketing, sales and recruiting personnel to manage, scale their businesses and deal with the anticipatory tighter regulations and government oversight.

According to Bloomberg, crypto firms are finding it tough to find the appropriately skilled candidates for thousands of open roles across the world. This sector faces a number of challenges recruiting people. Since it's still an emerging area, there aren’t large numbers of job seekers with five or 10 years of relevant experience for the specific nature of most of the job openings. 

Some people are enamored with the space, but there is an equal—or larger—number of potential candidates that shy away from the crypto field. They are afraid of the unknown, concerned about career safety and would rather pursue more traditional roles. 

With cryptos going mainstream, there is now intense competition from major banks, investment banks, hedge funds, FinTechs and all sorts of other financial institutions. Apple, Facebook, Square, Tesla, MicroStrategy and other tech companies are looking to get in—or already are in—on the action. Even the country of El Salvador got in on the game, making Bitcoin legal tender. A large number of job openings seek software developers and engineers, and these folks are in high demand everywhere.

Frederick "Fred" Ernest Ehrsam III is an American business executive and investor who is the cofounder and managing partner of cryptocurrency investment firm Paradigm. He is also the cofounder of cryptocurrency exchange Coinbase. In an interview with Bloomberg, Ehrsam contends that the crypto industry has the potential to create as many or more jobs than the internet. 

A quick search on both Indeed and LinkedIn’s job boards shows thousands of listings for roles related to “bitcoin,” “cryptocurrency” and “blockchain.” Writer Sarah Butcher, in a piece for eFinancial, shares some crypto companies that are aggressively hiring.

Coinbase, the U.S.-based cryptocurrency exchange that recently went public, has been hiring from investment banks, like HSBC, Barclays and JPMorgan. At the end of last year, Coinbase employed 1,249 people globally. It plans to keep hiring “meaningfully" and currently has around 183 jobs open globally, including 26 for recruiters. 

Binance is one of the world’s largest cryptocurrency exchanges. Founded by Changpeng Zhao, a former head of Tradebook futures development at Bloomberg, Binance is currently advertising over 350 jobs globally. The job listings include software developers, data scientists, compliance, legal, marketing sales and human resources professionals around the world.

"We are hiring aggressively," Zhao, Binance CEO, told Bloomberg. He said, "We see the industry growing exponentially on a year-to-year basis, and we need to scale our team to cope with it," Zhao added, "We are a geo-equal-opportunity employer. We don't mind where people are, as long as they produce results." 

Blockchain.com runs a crypto exchange and says it's "rebuilding finance from the bottom up"  and is the "easiest and most powerful crypto wallet." The company has about 40 open headcounts, which could be based remotely. The jobs include low-latency developers, commonly found at high-frequency trading firms, data scientists, data analysts, quant developers, traders and even someone to work in M&A. 

BlockFi is a crypto-management platform that offers cryptocurrency trading, pays interest on cryptocurrencies and offers loans with crypto as collateral. It's currently hiring 100 people internationally, including both in-office and remote options.

Grayscale Investments, a crypto asset manager based in Stamford, Connecticut, seeks 15 people. The listings include positions for engineers and ETF professionals.

Anchorage Digital, the first federally chartered digital asset bank, has about 50 job openings globally, seeking traders, engineers and risk and compliance professionals. 

Gemini, the crypto exchange founded by the Winklevoss twins, has plans to increase hiring in Singapore. Crypto.com, based in Hong Kong, has over 200 openings—with more than half of them based in Asia.

To fight the war for talent, crypto firms are upping the compensation, promoting remote-work options across the globe and offering other incentives to entice people to join their companies.

I am a CEO, founder, and executive recruiter at one of the oldest and largest global search firms in my area of expertise, and have personally placed thousands of

I am a CEO, founder, and executive recruiter at one of the oldest and largest global search firms in my area of expertise, and have personally placed thousands of professionals with top-tier companies over the last 20-plus years. I am passionate about advocating for job seekers. In doing so, I have founded a start-up company, WeCruitr, where our mission is to make the job search more humane and enjoyable. As a proponent of career growth, I am excited to share my insider interviewing tips and career advancement secrets with you in an honest, straightforward, no-nonsense and entertaining manner. My career advice will cover everything you need to know, including helping you decide if you really should seek out a new opportunity, whether you are leaving for the wrong reasons, proven successful interviewing techniques, negotiating a salary and accepting an offer and a real-world understanding of how the hiring process actually works. My articles come from an experienced recruiter’s insider perspective.

The price of Bitcoin has been up and down all year, from an all-time high of $60,000 in April to under $30,000 in July. Meanwhile, Americans’ interest in Bitcoin and cryptocurrency has grown alongside, at least according to their Google searches.

We’ve taken an interest in crypto this year, too — especially after noticing the lack of guidance for long-term investors more interested in retirement savings than getting rich quick with some new meme coin. Amid the constant price fluctuations, we’ve shared how investors can incorporate crypto into their portfolio without risking their other financial priorities — and weather the volatility along the way. Whether you’ve already invested and want to find the best form of wallet storage or you’re only beginning to explore how cryptocurrency actually works, we’re here to help guide you through the world of crypto. 

Many of the topics we’ve covered are the same ones crypto-curious investors are asking about on Google. Based on Google autofill results, related search terms, and “people also ask” suggestions, we’ve rounded up some of the most common questions, along with the answers and expert advice that can help you be a smarter investor.

Cryptocurrency is a completely digital, decentralized form of currency. It can be used as a means of payment or exchange (though that’s not a very practical use today), or as a potential store of value. Since it’s a digital currency, you can’t carry Bitcoins around physically in bill or coin form; all transactions take place online. Cryptocurrency is also decentralized, meaning it’s not backed by government authority the way the U.S. dollar, for example, is. Instead, it’s maintained by its users.

When you buy, sell, or trade crypto, those transactions are recorded on a decentralized ledger called blockchain, which is a permanent, unchangeable record. Any changes to a blockchain must be approved by a majority of users, which also makes it a highly secure form of record keeping.

There are many different kinds of crypto, but the most popular (and largest by market cap) are Bitcoin and Ethereum. 

[READ MORE]: You Have Cryptocurrency Questions. We Have Answers

For true crypto novices, just knowing where to begin your research can feel like an uphill battle. 

The questions you should ask about crypto will depend largely on your financial situation and goals. If you’re just beginning to explore digital currencies, you may want to start by learning the important terms and getting more familiar with how crypto works as an investment. If you’ve covered the basics and you’re considering buying crypto, these are the four most important questions you should ask yourself before you begin investing, according to experts we’ve spoken to:Why do you want to buy crypto?What is your risk tolerance?Where — and how — do you plan to buy cryptocurrency?Which cryptocurrencies would you buy?

Have a strategy before you put money down: Clarify your intentions, evaluate your ability to take the risk, and then make a buying plan. 

[READ MORE]: Does Crypto Belong in Your Investment Portfolio? These 4 Questions Can Help You Decide

What is the purpose of cryptocurrency?

The original intention behind Bitcoin, the first cryptocurrency, was to create an electronic cash system people could use in daily transactions. You technically can buy and sell things with it, but Bitcoin’s price fluctuates quickly, which makes it a poor fit for spending instead of cash. You could spend $50 worth of Bitcoin on something today that ends up being worth $20 tomorrow. It’s also not widely accepted as a form of payment yet, so you’ll have very limited purchasing power. 

While it’s not a great means for exchange, Bitcoin and Ethereum have shown investors they can be potentially valuable — if speculative — as investment assets. In other words, people purchase crypto in hopes of cashing out for a profit after it increases in value, just like more traditional investments. Bitcoin, for example, has already shown growth over time: just eight years ago, in late 2013, the price of 1 Bitcoin was around $200, and it now hovers around $30,000 (with plenty of ups and downs between). 

[READ MORE]: You Can Buy More Things Than Ever With Crypto. Here’s Why You Shouldn’t

Is cryptocurrency taxable? 

Yes. But if all you do with crypto this year is use U.S. dollars to purchase crypto and then keep it in an exchange or your personal crypto wallet, you won’t owe taxes on it. In general, the more active a crypto trader you are, the more tax implications there might be. Taxable crypto events include things like selling your crypto back into U.S. dollars, trading one crypto for another (for example, Bitcoin to Ethereum), earning crypto income, and using it to make purchases. 

For tax purposes, the IRS treats cryptocurrency like other personal assets such as stocks or gold. If you sell or exchange your investment, that transaction’s capital gains are taxable. The complexity of your transaction history will determine how much you’ll need to do to prepare for tax season if you have crypto. While there are new companies that promise to organize your crypto for tax filing, it’s ultimately your responsibility to keep track of your crypto transactions and report them to the IRS; so if you’re making frequent crypto moves, you’ll want to stay on top of this. 

[READ MORE]: Your Crypto Is Taxable. Here’s How to Report Virtual Currency to the IRS

Who controls cryptocurrency? 

Cryptocurrency creators can set certain parameters when they make a new crypto — such as how much there will be or rules around buying and selling — and those typically cannot be changed. But because cryptocurrencies are decentralized, control of day-to-day operations is distributed among users, and any changes require majority approval from these users — known as nodes. 

Because cryptocurrency is so new and different from traditional forms of finance, the world is in unknown territory when it comes to regulation. There’s little existing legislation around the ownership and trade of digital currencies, although the U.S. government has expressed interest in establishing cryptocurrency regulation. 

[READ MORE]: Cryptocurrency Terms to Know Before You Invest: A Beginner’s Guide

Investing in CryptocurrencyHow to start investing in crypto?

If you’re new to investing in crypto, experts say Bitcoin or Ethereum are probably the best cryptos to start with. When you’re ready to buy in, here are a few of the first steps you should take:

: A crypto exchange is the online trading platform you’ll use to buy your crypto. Some details to consider include security, fees, and available coins. Fund your account: As you would with a traditional investment account, you’ll need to move U.S. dollars into your crypto exchange account. Place an order: This differs by exchange, but you’ll essentially trade the dollars in your exchange account for the cryptocurrency you want. Practice safe storage: Decide whether you want to keep your coins within your exchange account or move them into your own hot or cold wallet. 

[READ MORE]: How to Buy Bitcoin: A Guide for New Crypto Investors

How much of my portfolio should I invest in crypto?

If you’re able to tolerate the risk that comes with crypto investment, experts say it can be a good diversifier for your portfolio. But the crypto market is extremely unpredictable, so you’ll only want to invest a small portion of your portfolio — and only after your other financial priorities are in order (things like saving for emergencies, paying down high-interest debt, and investing in a conventional retirement account). 

Experts we’ve spoken to recommend investing anywhere from 1%-5% of your portfolio in crypto, depending on your financial situation. The volatility level of crypto is high, so you don’t want to risk more than you’re willing to lose. As personal finance icon Suze Orman puts it, the amount you invest in crypto “depends on how much money you are willing to lose.”

[READ MORE]: How Much to Invest in Cryptocurrency, According to 5 Experts

Should I invest in crypto or more traditional funds?

Considering how speculative crypto is, we would never recommend investing in it over traditional investment funds. Before you put any money in crypto, you should make sure you’ve set up a retirement fund, like a 401(k) or Roth IRA. Plan for your retirement by investing in an ETF or index fund —  low-cost portfolio investments with proven long-term records of building wealth. 

If you already have a healthy portfolio, you may look to diversify with crypto in addition to more traditional funds. It all comes down to your specific financial goals and how much risk you feel comfortable taking. If you do invest, here are some best practices experts recommend: 

Keep the percentage of your portfolio in crypto low — no more than 5%Be prepared to lose the money you investInvest for long-term growth, and avoid short-term fluctuations 

[READ MORE]: Curious About Crypto? What 10 Financial Advisors Are Telling Clients About Investing In It

Which cryptocurrency should I invest in?

In general, experts recommend beginner crypto investors stick with Bitcoin or Ethereum, the two largest by market cap and trade volume. They’re still highly speculative and volatile, but are a little less risky than the thousands of other coins available.

Non-Bitcoin cryptocurrencies (known as altcoins) are often designed for unique purposes, like being more energy efficient (and thus eco-friendly) than Bitcoin or as a potentially better means for transactions. But most of them have an even smaller chance of growing in value, and altcoins can put your investment at even more risk than with the comparatively more stable Bitcoin and Ethereum.

You can always take the gamble and consider an altcoin if you see promise in it. Just proceed with a healthy dose of skepticism —  investing in cryptocurrency is already extremely speculative, and becomes even more so when you choose an altcoin with little to no history. For most retirement-minded investors, experts emphasize Bitcoin or Ethereum are better options.

[READ MORE]: The 10 Most Popular Cryptocurrencies, and What You Should Know About Each Before You Invest

Can I be hacked? How do I protect myself?

Yes, the exchange you use to buy your crypto and the wallet you use to store it can be hacked. If you choose to hold your crypto in an exchange or on a software-based hot wallet, make sure you choose a platform that has robust security measures in place. The most secure protection from hackers is cold storage — because it’s completely offline, there’s zero chance for hacking. But that extra security isn’t without cost either: If you lose your USB-like cold wallet or the encrypted keys to get into it, you likely lose any crypto held on it, too.

Hacking is one risk, but as crypto’s value has grown, cryptocurrency crime has too. If you invest, be on the lookout for fraud. Recognizing common scams can help you protect yourself and your money. Here are a few crypto scams to watch for:

Someone who will only accept payment for goods or services in cryptocurrency Unsolicited offers to help you make money or increase your holdingsInitial coin offerings for fake cryptocurrencies Crypto pump and dump schemes 

[READ MORE]: Cryptocurrency Crime Is Booming. Here’s How to Invest Safely

The Future of CryptocurrencyWhat is the future of Bitcoin? 

Given cryptocurrency is still in its relative infancy, many questions regarding its future remain unanswered. Bitcoin has only existed for a little over a decade — amid constantly evolving technological advances and regulations. The value of both Ethereum and Bitcoin has steadily risen over the years (with plenty of dips along the way), but with so little historical record compared to the stock market, it’s difficult to make any concrete forecasts. 

More financial institutions are starting to hold crypto, and some large corporations are adding crypto to their balance sheets. Federal regulators have also taken an interest in more formal guidance and even the creation of a central bank digital currency (CBDC). Beyond that, many experts see the potential for innovation backed by blockchain technology that could transform our lives in the future. 

But there is also a long list of risks associated with crypto that could limit its potential value. From the concerns of cybercrime to high market volatility susceptible to celebrity influence and the environmental impact of crypto mining — there’s no shortage of reasons to remain cautious as we look to the future of crypto. 

Is there any potential for the widespread use of cryptocurrency as a currency? 

As of right now, there are few instances in which using cryptocurrency to buy things would make sense. Of the platforms that do accept crypto payment today, many only accept Bitcoin, which is especially ill-suited for payments, given its extreme price fluctuations. 

There is a chance that payment with digital assets could become more common in the future, especially as digital currencies like stablecoins — which are pegged to existing currencies and less volatile — become more popular and take on potential government regulation. 

The U.S. government is also considering a central bank digital currency (CBDC). It would operate using blockchain technology like other cryptocurrencies, making it faster and more secure than today’s digital transactions. Unlike crypto, a CBDC would be centralized and backed by the Federal Reserve — making it much more useful for purchases. 

[READ MORE]: Fed Chairman Says U.S. Might Need More Crypto Regulation. Here’s What That Means for Investors

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As celeb-fronted campaigns bring cryptocurrency into the mainstream, is it time for clearer regulation of ads?

A harsh spotlight was shone on cryptocurrency ads this month. The UK’s ad regulator the ASA has said that it now will better police cryptocurrency content while TikTok has issued a warning to creators that it will not tolerate promotion of the divisive digital currency. At the same time, Google and Facebook appear to be opening the gate to more advertising from crypto companies having previously banned all ads. And even ads that do make it to air on the big screen have been quick to face criticism from the general public, wiser to the pitfalls of the crypto boom.

When Spike Lee – the famed director behind films like ‘Malcolm X’ – appeared on screens last week extolling the benefits of why “old money is out, new money is in” in a campaign for crypto ATM operator Coin Base, he faced a swathe of criticism for failing to spot the hypocrisies.

Lauding Bitcoin et al as “the digital rebellion” against a financial system that “systematically oppresses” people of color and women, he marched through Wall Street denouncing archaic financial systems and encouraging the nation to cash in their dollars for cryptocurrency.

“Do your research,” Lee says between hyperbole. Is it a warning? If not, it should be.

According to the Federal Deposit Insurance Corporation, 5.4% of US households do not have a bank account, with the primary reason being a lack of sufficient funds to open one.

Yet these 20 million Americans appear to be the exact target audience that Lee was encouraging to rush to a Coin Base ATM to exchange their “old money” for a new currency that’s “inclusive and fluid”.

Critics were quick to highlight that this group, arguably more than any other, is susceptible to the promise of making a quick buck without proper consideration for the risks involved with investing in something as volatile as cryptocurrency.

According to Glassnode, between May 17 and May 24, Bitcoin holders realized net losses of $2.56bn. Glassnode says most of these sellers were new ‘bitcoiners’ who had acquired and subsequently sold the currency within the past three to six months.

In a survey of UK consumers conducted by behavioral finance experts Oxford Risk, 36% cryptocurrency investors admit their understanding of the sector was poor or non-existent.

But emotional factors such as the ‘fear of missing out‘ are driving growth, with around 35% of adults saying they have read a lot about huge price rises while 15% say they have been encouraged to buy by friends or family.

Spike Lee isn’t the only celebrity to lend his star-power to cryptocurrency ads.

In the past, crypto companies had been used to marketing their products on pockets of the internet – Telegram groups, online chatrooms and invitation-only forums. But as Bitcoin hit headlines, large investors like Tesla and Square backed various Coins, and financial giants like BNY Mellon, Visa and Mastercard revised their policies to support crypto projects, the crypto sector began to experiment with mainstream advertising. And their marketing pockets are deep if the calibre of celebs they've signed on to front major ad campaigns is anything to go by.

Actor Neil Patrick Harris has bragged of the benefits of being an early Bitcoin investo for a CoinFlip campaign, Alec Baldwin has mocked those who think trading crypto on Etoro should be anything other that quick and easy, while Tom Brady and Gisele Bündchen have become brand ambassadors for FTX to encourage adoption of the digital currency.

These companies are also spending big on digital advertising, specifically with social media influencers.

Internet sensation Kim Kardashian West promoted Ethereummax – a so-called alternative-coin, or ‘alt-coin’, to the more established Bitcoin – to her 228 million Instagram followers last month.

Over on TikTok, young stars Charli and Dixie D’Amelio turned their combined 169 million followers’ attentions to cryptocurrency exchange Gemini as part of a sponsored campaign. In fact, the use of influencers by crypto companies on TikTok was so widespread they were given the moniker ‘Fintok advisors’.

But concern has been mounting within the walls of advertising regulators over the lack of scrutiny given to cryptocurrency ads, especially those targeting a young and financially naive audience.

The Advertising Standards Authority (ASA) in the UK recently said that it would be taking a more serious look at any crypto advertising. It came following the ban of an OOH campaign from UK-based exchange Luno, which ran a series of ads reading: “If you’re seeing Bitcoin on the Underground, it’s time to buy.”

The watchdog said it plans to offer guidance for companies in the coming weeks, and is ”considering whether further action is needed” around social media influencers promoting investments in the space without disclosing enough about the risks.

Further afield, the Advertising Standards Council of India (ASCI) said this week that it was looking into the rise of crypto ads after identifying it as an “emerging area of concern”.

But it’s slow progress. Arguably too slow for the fast paced nature of this sector, where scams and fraud are all too common.

”It is inevitable that digital asset investments and crypto currency ads in particular will face greater scrutiny and tighter regulation. It’s really a case of slow regulators catching up with fast-developing technology and greater public awareness,” says Rafe Blandford, chief product officer at Digitas UK .

“Focus is sharper on this sector because of the associated consumer risk with any investment instrument, especially in what currently feels like a Wild West atmosphere. Because country by country legislation can be slow, we can expect to see ad networks enacting their own policies and self-regulation.”

Atomic London is an advertising agency that counts Etoro – a trading platform that lists numerous cryptocurrencies – among its clients.

The agency‘s chief executive Jon Goulding said he is in no doubt that a clamp down in crypto advertising is coming. However, he raised concerns over how effective it would be when there remains no official regulation by the Financial Conduct Authority (FCA), agreeing with Blandford that ultimately we’ll see a network-level stance taken, rather than anything government mandated.

"With most crypto currencies not regulated by the FCA, how are consumers really going to be protected?,” says Goulding. ”It comes down once again to whether digital and social media platforms will self-regulate and block crypto-advertisers from accessing their inventory and not simply whether there is an arbitrary ‘warning, you could lose all of your money’ as a small print alongside advertising messages.”

But rather than a move to stricter regulation of crypto advertising, it appears some digital and social platforms are slowly opening up to it.

Facebook – which owns Instagram – introduced a harsh crackdown back in 2018 with a blanket ban on crypto companies using its ad product. It has since lifted those restrictions to allow some adverts from pre-approved brands, and has no policy on its site in regards to influencers promoting crypto.

Like Facebook, Google had also previously taken a firm stance on crypto ads in an effort to clamp down on scams. But it appears to be loosening those restrictions for crypto exchanges and wallets, with reports emerging that it has invited potential advertisers to apply for commercial opportunities this month ahead of a change in policy in August.

“Given the track record of those platforms I don’t hold out much hope that they’ll suddenly start clamping down on it,” says Goulding. ”Ironically, when going on to digital publishers sites to look at articles relating to the ASA banning cryptocurrency advertising, the first pop up ad was for a cryptocurrency.”

TikTok, however, is getting tougher. Earlier this month it updated its content policy to ban – among other things – influencers from promoting cryptocurrency.

Aside from the platform, the ability for crypto brands to market to the masses may also come down to the ethical values of the advertising agencies they want to employ.

Many agencies have committed to AdNetZero to help the industry tackle the climate change emergency. Spearheaded by the Advertising Association, it‘s aiming to reduce the carbon impact of developing, producing and running UK advertising to real net zero by end 2030 and asking agencies to commit to make practical changes in the way they run their advertising operations.

”The environmental impact of crypto currencies is significant. Between start of 2016 and mid-2018 it’s estimated that crypto mining was responsible for up to 15 tons of carbon dioxide emissions. The most prominent crypto currencies – Bitcoin, Ethereum, Litecoin and Monero – used more electricity in 2017 than Ireland or Hong Kong,” says David Edwards, chief customer officer at AMV BBDO, suggesting that agencies may need to take a stand on bringing cryptocurrency brands on as clients.

“It’s estimated that for every $1 of Bitcoin value created it was responsible for creating $0.49 in health and climate change – otherwise known, I think, as cryptodamages. It seems sensible that there should be tighter advertising regulation until cryptocurrencies are subject to proper global regulations – with all the checks and balances in place regarding personal and environmental protections.”

A SPAC is a publicly traded blank-check company. Merging with a SPAC has become a popular way to become a publicly listed company for tech companies.

According to Circle, the deal should value the company at $4.5 billion. Investors involved in the merger have committed $415 million in PIPE financing. The company also recently raised $440 million in capital. In other words, Circle will have plenty of capital on its hands if the merger goes through.

Created in 2013, the company originally wanted to create a mainstream bitcoin payment platform. But the company later pivoted to create a social payments app. Circle became a sort of Venmo clone with some blockchain technology under the hood. At some point, Circle even removed the ability to send and receive bitcoins.

“We never thought of ourselves as a bitcoin startup. The media certainly classified us that way because we were involved with the technology. From the day we founded the company three years ago we’ve focused on trying to build a new consumer finance company. And one that makes money work the way the internet works,” Circle co-founder and CEO Jeremy Allaire told TechCrunch’s Natasha Lomas in 2016.

While that consumer play didn’t take off, it’s interesting to see that Allaire was already thinking about being able to programmatically move money. In 2017 and 2018, the company pivoted once again to focus on cryptocurrencies. It launched an over-the-counter trading desk for big cryptocurrency investors.

It acquired Poloniex, one of the largest cryptocurrency exchanges in the U.S. at the time. It also launched Circle Invest, a really simple mobile app that let you buy and sell a handful of crypto assets.

But Circle’s most promising product has been its stablecoin — USD Coin, or USDC for short. As the name suggests, 1 USDC is always worth 1 USD. Unlike traditional cryptocurrencies, you can be sure that the value of USDC isn’t going to fluctuate like crazy. Auditing firms regularly check that issuers always keep as many USD in bank accounts as USDC in circulation.

With USDC, moving money from one wallet to another becomes as easy as using standard API calls. The company has then added various infrastructure products around USDC, such as Circle Accounts. Circle has also built ramps to bridge the gap between fiat currencies and cryptocurrencies.

There are currently $25 billion USDC in circulation and the company believes there will $190 billion USDC in circulation by the end of 2023. And Circle plans to leverage the popularity of USDC to build financial services that take advantage of USDC.

a16z’s new $2.2B fund won’t just bet on the crypto future, it will defend it

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Blockchain News – Mycelium Wallet Review and Usage Guide – Part I – Bitcoin & Crypto Guide

The Mycelium wallet application is available for iOS and Android users.

Now let’s start exploring the Mycelium wallet.

Users can download the Mycelium wallet mobile application from the Google Play Store (Android).

Important: While downloading any mobile wallet application from the Google Play Store, it is always recommended to check the application count download, reviews, and the rating status. This way, you can protect yourself from various phishing applications found on the internet.

Once the application is installed, a pop-up window will appear that will allow you to do two different activities related to the wallet’s installation.

Choose the option Create a New Wallet if you are a new user.

The application will ask to set up a wallet pin for security.

After PIN setup, the wallet is created, and you can start doing transactions.

Once you create a wallet, you will get a pop-up message to back up your wallet. Select Backup Now before making any transactions so that, in case you lose your device or forget the pin, you’ll be able to recover your BTC.

To back up, click on the Backup Now button.

The application will show you the 12-word backup phrase that you need to store safely.

Through this option, you can share your public address with other users to receive tokens. You can share your address via Twitter, Telegram, WhatsApp, etc.

Transfer BTC From Binance Into Mycelium

To transfer funds from Binance, go to your Spot wallet.

Click on Withdraw against BTC. The below page will appear. Enter the recipient’s Mycelium wallet address there.

Click on Submit. Once the transaction is successful, you can see the BTC tokens in your Mycelium wallet.

Important: While transferring tokens from Binance, be very careful in providing the appropriate wallet address. Check the address format supported by the exchange and get the corresponding Bitcoin address from your wallet. A simple mistake can lead to funding loss.

The Send option allows you to send the BTC tokens to another account. The Mycelium wallet allows you to send tokens to the recipient by either providing the address or scanning the QR code. Enter the recipient’s address and the token value.

The balance tab shows your token balance. You can tap and check balances available on the three supported accounts’ addresses:

Mycelium wallet is able to display data from various supporting exchanges. At any time, you can select and change the exchange depending upon your requirements.

Users can exchange any coins with BTC by using the Mycelium application, but the process is slightly different. You need to first select the token and the amount that you wish to exchange with BTC. Upon clicking the Continue button, the application will display the address where you need to send the exchanging token. The page lists the detailed steps along with the memo number. Complete the transaction within 36 hours. Otherwise, it will be cancelled automatically.

The Buy Crypto feature on Mycelium wallet is powered by Crypto.com. When the users click on the Buy Crypto button, they will be redirected to the crypto.com platform where they can purchase the desired tokens.

Mycelium allows you to buy/sell Bitcoin by using the following services:

Mycelium allows you to buy/sell Bitcoin using your credit card. The card purchase is powered by third-party service provider Simplex. As shown in the below image, you need to select your region first, and then you will be redirected to the page where you need to enter the amount of Bitcoin you want to purchase or the amount that you wish to spend in buying Bitcoin along with your Bitcoin address. Then you hit the continue button. The Simplex application will now take your credit card, personal, and billing details. Confirm the entire process to get the BTC in your wallet.

Mycelium wallet also allows you to buy/sell Bitcoin using SEPA (single euro payments area). SEPA allows users to make euro transfers (direct debits and credit transfers) to the SEPA-participating country using a single bank account (IBAN) and following a standard set of rules and conditions.

The Mycelium wallet offers a marketplace for its users where they can make P2P trading. The marketplace also allows the traders to create ads by providing the following details:

Using the below-highlighted icon, you can add the following accounts to your Mycelium wallet application:

However, we have noticed that the wallet allows you to only create new accounts (Ethereum). It doesn’t support importing any existing (Ethereum) wallet into your Mycelium wallet.

The lock symbol will hide the display of the token values in your wallet application.

You can see your transaction details from this tab.

The Businesses tab lists the third-party services and games supported by the wallet application. You can disable these services by going to the External Service tab in the Settings section.

The platform has integrated gaming betting features in the wallet application that are powered by 1xBit.com. You can see different sports where you can bet.

In the next part, we will see the remaining features supported by the Android mobile wallet application.

Resources: Mycelium wallet

Read More: How To Provide Liquidity on RAMP DEFI Vaults and Earn RAMP Tokens

Blockchain News – Mycelium Wallet Review and Usage Guide – Part I – Bitcoin & Crypto Guide Tags: Blockchain News

The interest in Bitcoin is currently at an all-time high, thanks to the cryptocurrency breaking all its previous records by the end of 2020. With the crypto hovering close to the record $50000-mark, interest among investors to acquire the asset has also increased which is reinforced by the bullish sentiment exhibited by traders on the market. As new investors move to become part of the crypto community, the interest in wallet solutions to store and manage cryptocurrencies has also gained prominence.

There are a variety of crypto wallets available out there, and each one of them comes with its own sets of advantages and disadvantages. The wallet solutions can be broadly classified into two types – hardware wallets and software wallets. While hardware wallets are the safest option to store cryptocurrencies, they need to be purchased, which involves an upfront cost. Meanwhile, blockchain wallet applications are mostly free and considerably secure. Some of these applications also offer additional features to suit the diverse needs of the crypto community.

This article presents few bitcoin wallets that not only offer safe storage but also packs few unique features that help users manage their crypto portfolio more effectively.

One of the best bitcoin wallets of 2021, YouHodler is the most advanced of the lot which not only provides users with a secure way of storing funds but also allows them to earn an interest of up to 12% APR on crypto assets. Apart from Bitcoin, the wallet application also supports multiple crypto and stablecoins including the likes of ETH, LINK, USDC, USDT, TUSD, PAXG, PAX, HUSD, BUSD, DAI, EURS and more. YouHodler combines the flexibility of usage with security, exchange features, and the earning potential of DeFi solutions.

Available for desktops as well as Android and iOS-powered mobile devices, the YouHodler wallet also enables users to avail crypto-backed loans from within the application. Further enhancing the experience, YouHodler also offers additional protection to funds stored in its wallets through Ledger Vault’s pooled customized crime insurance program. Led by Arch UK Llyods of London syndicate, the insurance covers crypto assets worth up to $150 million against risks including employee theft caused by collusion and third-party theft of private keys/master seed in the event of a physical breach of hardware security.

As an all-in-one app, the YouHodler bitcoin wallet allows users to purchase crypto, convert one currency to another with the universal conversion tool at a low conversion rate of 0.5%, and crypto multiplication tools like Turbocharge and Multi HODL for earning interest on deposits. It also supports fiat deposits and withdrawals through bank cards and wire transfers for buying and selling cryptocurrencies. While the platform doesn’t charge for any deposits, there is a small withdrawal fee applicable for fiat and certain cryptocurrencies. However, Bitcoin users don’t have to worry as all crypto deposits and withdrawals are completely free for them.

Ledger Nano S is a popular hardware wallet ideal for those who are only concerned about the security of their crypto funds and don’t mind paying a small amount to purchase the device. Ledger Nano S is the first as well as the least priced among all the Ledger hardware devices, costing about $59.

Capable of supporting around 1500 different crypto assets including ERC20, ERC721, TRC10, TRC20, BEP2 and NEP5 token types, Ledger Nano S offers users a quick way to make payments while providing the highest levels of security. Some of the other features offered by the device include auto-lock and advanced passphrase security as additional layers of security. It can also be interfaced with desktop and mobile phones using the Ledger Live desktop and mobile phone to perform transactions. Meanwhile, like all the wallets, the Ledger Nano S also has a recovery phrase, that can be accessed on its display, to be noted down and stored in a secure place in order to ensure control over the funds stored in the wallet. Users can also verify and approve transactions using the built-in interface on the device.

While Ledger Nano S is capable of supporting a range of crypto assets, there is a constraint on how many assets one can manage at any given time. In order to use the device with various cryptocurrencies, users will have to set it up using compatible apps for the respective tokens. But the limited availability of storage space on the hardware can accommodate only up to 6 applications. So, those who deal with many cryptos will either have to procure multiple devices or go for other variants of the Ledger hardware wallet. Overall, Ledger Nano S is a great, value-for-money device for new crypto users.

Electrum Bitcoin Wallet is one of the popular open-source wallet applications that has been around for a long time. It is a no-nonsense software that works flawlessly with the Bitcoin network by connecting to any of the multiple supported servers. With easy set-up and support for the creation of multiple Bitcoin wallets over the same desktop application, Electrum is the quickest way to start using Bitcoin. However, the simplicity and speed offered by the wallet take a toll on privacy as network information of users is not completely masked from the servers one connects to execute transactions.

Electrum allows users to select between Legacy and SegWit wallets during creation and supports almost all types of private keys and recovery phrases available for Bitcoin wallets. It is also compatible with hardware wallets.

Security features offered by Electrum includes two-factor authentication and multisig wallet types, along with the ability to save and export wallet seed and private keys in an encrypted format to prevent unauthorized access and easy recovery of funds in case something goes wrong with the software or if needed to be installed or accessed on a different device.

Exodus is a strong contender in the Bitcoin wallet space, as its use is not just limited to one cryptocurrency but a host of different tokens. It is a multi-device, multi-chain online blockchain wallet available for use on Windows, Mac, Android and iOS powered desktop and mobile devices. In addition, Exodus also connects with Trezor hardware wallet, allowing users to securely manage their crypto assets.

The Exodus wallet currently supports over 125 different cryptocurrencies, including ERC20 and other token types belonging to some of the leading crypto projects. The wallet application is complemented by a couple of crypto apps that enable users to stake certain tokens and earn rewards.

When it comes to security, the wallet is protected by an additional 6-digit PIN. Users are always in control of their private keys, and the wallet itself can be backed up or restored using a 12-word mnemonic.

For starters, Kraken is not really a cryptocurrency wallet, but a crypto exchange and trading platform. As a centralized trading platform, users can acquire, trade, and store their crypto assets in their respective accounts on the platform. However, using any centralized platform to store crypto assets is not advisable, it may prove to be an easy option initially for those who are new to cryptocurrencies until they become familiar with regular, more secure hardware and software wallets.

One thing to keep in mind while using centralized exchanges and wallets is that the user may not be always in control of the funds held in their accounts.

Conclusion

These 5 wallets represent different categories of Bitcoin wallets and are among the best in their respective spaces. But that doesn’t mean there aren’t other good ones out there. Users can always try different Bitcoin wallet apps and stick to the ones they find convenient to operate.

SafePal takes care of your cryptocurrencies, securing your private keys on their hardware wallet while simultaneously letting you manage, observe and trade your assets from the mobile app. 

"Shenzhen Safepal Technology Co., Ltd" was founded by a strong team with backgrounds in hardware design, software design, and cyber-security in January 2018.  The city of Shenzhen is China's cryptocurrency and tech hotspot, like the Silicon Valley of China, where big names like Huawei, Samsung, Cisco and Tencent, and many more hold office. This region is ideal for a cryptocurrency project; the environment is full of "resources." 

Later in 2018, Binance decided to back (fund) the project, and its product launched in May of 2019.

With the price of the hardware wallet being only $39,99, it is no wonder that the demand for it is high, recently resulting in being out of stock until February 28th, 2021, in their webshop

The app (software wallet) is available for Android and Apple IOS. The app provides an interface with which you can send or receive cryptocurrencies, interact with contracts (dAPPS), and trade using both SafePal DEX (Decentralized Exchange) and Binance CEX (Centralized Exchange) interfaces. 

The SafePal Dex is an AMM (Automated Market Maker) that allows token swaps across different blockchains; the most prominent are Ethereum, Bitcoin, and Binance Smart Chain. There are also staking options built within the SafePal Earn feature, which will be implemented in Q1 of this year. The app also functions as an on-ramp and will let you buy crypto using credit cards, bank transfers, IDEAL, BanContact, EPS, GiroPay and SofortBanking methods.

The Hardware Wallet improves security by storing your private keys and allowing you to approve transactions sent from the app. This offers more protection for your long-term crypto assets, keeping them in your custody. The Hardware Wallet is delivered in a lovely box that has double anti-tamper sealing. The SafePal team does this to ensure the device has not been tampered with on its way over to you. In the box, you will find the following contents:

With its built-in 1.3 inches full-color screen and camera, you can scan the QR codes from the device or phone App and seamlessly approve transactions. The 400mAh battery is sufficient to power the device for up to 3.5 hours of operating time; this is very long considering the device is mostly in a dormant state. If you would use it for 10 minutes a day, a full battery should last 20 days. Recharging is done via the supplied USB cable, and the same cable is used for upgrading firmware. This is the only time the otherwise fully air-gapped Hardware Wallet has to be connected to a personal computer. Otherwise, all connections are made by scanning encrypted QR codes; no wires are required.

If you want to learn more about setting up your SafePal Hardware Wallet, I can recommend that you have a look at their various tutorials on their YouTube Channel, found HERE

The app has many security options, such as fingerprint scans, security passwords, pattern passwords, and pass-phrase login functions. To further secure your app from prying eyes, there is the privacy mode, hiding your balances.

Security for the Hardware Wallet consists of:

The SafePal Wallet supports over 20 blockchains under which also Binance Smart Chain (BSC) and well over 10.000 tokens. Unlike the Ledger and Trezor Wallets, for the SafePal Wallet these tokens don't require the installation of 3rd party Apps, making it much easier to manage your crypto's.

The SafePal Wallet App also allows for creating multiple accounts, for instance a long term and a daily use wallet, making managing multiple wallets very easy from within the app.

Trading inside the app is very convenient done either by swapping on a DEX or to make use of the build in Binance Spot market function, made possible by Binance Backing the SafePal project. In a recent update, stop/limit order functions and the option to convert small holdings to $BNB tokens, just like on Binance, was added. This really makes trading from the app very convenient.

Possibilities to interacts with smart chain contracts via dAPPS and in-App staking are also present and easily accessible. Another very nice thing is that you can send cryptocurrencies to friends that are on social media networks like Twitter

SafePal Token $SFP is a BEP-20 token on the BSC. It was launched from Binance's Launchpad in January 2021; users could only use $BNB to buy the tokens during this pre-sale. The token price was set at $0.10 and 50 million tokens were sold, bringing the sale total to $5,000.000- together with the seed, strategic and private sale the total funds raised were over $7,264,600. The token price currently is around $2,60, so if you were lucky enough to participate in any of the pre-sale rounds, you would be in good profit.

There currently are 108,166,667 out of 500,000,000 $SFP Tokens in circulation, and the token is ranked just outside the top 100 on Coingecko (117).

The SafePal Wallet App is a beautiful tool for interacting with and managing your crypto. Its built-in SafePal Swap DEX coupled with its cross-chain capability is indeed very handy. Trading using the built-in Binance spot trading feature allows users to fine-tune their trades even more, using the stop/limit orders.

The fact that the wallet supports a plethora of tokens and coins makes it more useful, especially for roaming the De-Fi Yield farming landscape because you can interact with the dAPPS directly from within the app. The many partnerships with companies like Binance are a sure sign this company means business, selling their Hardware Wallet at a very affordable price compared to some of the competing parties. The best part is that SafePal offers the same if not better protection compared to many of its rivals.

The Hardware Wallet is a great security layer, but I think it's mainly useful if you want to put crypto in cold storage. For those who opt-out of the cold-wallet, the app will create more than one wallet; that way, you can have a cold and a hot wallet. Ideally utilizing the Hardware wallet for long-term storage and the app for your day-to-day business—the Hardware Wallet essentially being your bank.

Overall SafePal offers users a user-friendly UI coupled with safety features and countless possibilities to  earn, send and receive tokens. SafePal has integrated seamless features allowing user to buy trade crypto and interact with dAPPS. The benefits the $SFP token brings, grants them a kudos from me; good job SafePal!

If you want to find out more about SafePal, you can check out their website and social media sites:

Trustee Wallet is a universal platform for access to all the possibilities of the cryptocurrency world. It is an innovative, non-tax multi-currency open source crypto wallet that allows you to instantly send and receive virtual assets using Visa/MasterCard and payment systems.

Buying, selling and other cryptocurrency transactions are simplified by a user-friendly interface. At the same time, the service offers the lowest commissions on the market when entering the fiat (0.5%), in the direction of the сryptocurrencies-сryptocurrencies the commission for exchange is 0.2%, and sending to other crypto wallets is free.

The service details the limits on operations and other information. Moreover, a convenient notification system is built into the wallet: users receive key information about changes in the Bitcoin rate, the status of transactions, as well as interesting information from the cryptocurrency world.

Here's an overview of the unique features of the Trustee Wallet.

This feature is unparalleled in the global market and allows users to significantly increase the benefit of transactions with crypto.

The feature works in this way: a number of exchange providers are integrated into the wallet, each offers its own terms. In a specific transaction: whether buying, selling or exchanging, Smart Swap makes a ranking among exchangers and chooses the best offer on the market. At the same time, the user is not bound by the recommendations of the service and can choose the exchange provider himself.

This makes the application stand out even among the key global market players who make the service truly independent. It can continue to operate smoothly even if one or more exchange providers are shut down.

The high load of the mempool does not add comfort when working with crypto. To avoid "hanging" transactions, many services by default put a high miner's commission, which leads to additional costs on the user side.

Trustee Booster Kit technology allows:

Thus, the flexible system of billing the network allows you not to overpay for commissions for the transaction, but the user can speed up the implementation if necessary.

Trustee removes barriers to starting with cryptocurrencies for beginners through a simple and intuitive design. In the wallet they can make an exchange, purchase and sell coins in a couple of simple steps.

The ability to personalise the GUI is another distinctive feature of the application. The user can easily control the coins and the process of receiving/sending, as well as:

Trustee has introduced heightened security standards, as reliable crypto wallets - must have in the crypto industry:

The crypto wallet has open source on GitHub, and its security has been confirmed by experts Hacken.io.

When buying/selling cryptocurrencies for hryvnias and rubles, users are not required to provide personal documents or personal information.

There is an opportunity to hide the balance.

Trustee Wallet allows you to import seed phrases from Metamask and other non-ichadical wallets.

It is possible to connect your personal (custom) token on the ethereum (ETH) and Tron (TRX) blockchains. To do this, click "Add the asset," click on the "Add asset off the list" link, and specify the address of the custom token contract.

WalletConnect is available in your wallet to secure access to the world of decentralised finance.

There is a cashback and a profitable referral program, which eventually allows you to receive up to 30% of the commissions of Trustee Wallet for the purchase and sale of cryptocurrencies by invited users.

The terms of the affiliate program are as follows. Level 1 -10% of the Fee of Trustee Wallet for buying and selling cryptocurrencies by invited users (activated from the first partner). The more friends install your wallet on your link, the more your income will be.

Level 2 is activated with a weekly turnover of more than 5,000 USDT, which allows you to receive 10% of The Trustee Commissions from Level 2 users (partners of your partners).

Disclaimer: The Coin Shark is not responsible for any content, accuracy, quality, advertising, products or other content posted on the site. Users should do their own research before taking any action. 

The Ledger Nano X is a premium hardware cryptocurrency wallet built to keep your digital wealth as secure as possible. Unlike hot wallets, which are connected to the internet and therefore vulnerable to attack, the Nano X stores your private keys offline, on the device itself.

To ensure the hardware is as resilient as possible, Ledger employs a custom built OS (BOLOS) and CC EAL5+ certified Secure Element (SE) chip. The security of the device has also been audited and verified by ANSSI, the French national cybersecurity agency. 

The Nano X offers all the features of its cheaper sibling, the Ledger Nano S, but with the added ability to store a greater range of assets at once and to manage your portfolio on the go by linking the device to the smartphone app via Bluetooth.

A much larger 100mAh battery also means you can use this hardware wallet when you’re out and about, without needing to hook it up to a power source. 

While the Nano X is designed primarily with HODLers in mind, it’s also simple to add to your cryptocurrency portfolio and put your holdings to use, thanks to partnerships with crypto exchanges Coinify and Changelly and DeFi protocol Compound.

The Ledger Nano X will run you $119/£109. Alternatively, you can buy a three-pack for $299/£274, although there’s no reason you’d want to do this as an individual user.

The closest competitor to the Nano X is possibly the Model T from Trezor, which costs $170 (roughly £125).

The slightly less sophisticated Ledger Nano S is just as secure as the Nano X, but lacks the same connectivity options. Costing $59/£54.50, the Nano S could be the better option for people who are concerned about securing their crypto, but don’t want to break the bank.

Using the Ledger Nano X is relatively straightforward; there’s not much that can go wrong when there are only two buttons available. When the device is powered on, the buttons are used to navigate left and right within menus, and pressing both at once confirms your selection.

However, this process feels a little clumsy at times, especially when it comes to retreating back to a previous menu, and left us wishing for a touchscreen or at least a third button.

When it comes to managing your crypto, the device will need to be hooked up to either the Ledger Live desktop or mobile application, via a USB-C to USB-A cable for the former and Bluetooth for the latter. Native clients are available for all major operating systems, covering Windows, macOS, Linux, Android and iOS.

Both the desktop and mobile applications are easy to use, thanks to a simple design and clean interface. The various different functions are housed in self-explanatory tabs in the sidebar on desktop and bottom nav bar on mobile.

Linking the Nano X with the Ledger Live apps is simple enough, provided the instructions are followed to the letter. Failing to note down your 24-word recovery phrase could lead to disaster, for example, but that’s part and parcel of securing crypto using a hardware wallet.

The only problem we ran into concerned setting up a Bitcoin account via the app, which requires you to choose between two different address formats. The app could do a better job of explaining the difference for crypto beginners, even if the topic is covered off on the Ledger website.

Using the Nano X to send and receive cryptocurrency is a breeze. With the device connected to the Ledger Live app, transactions can be set up and approved with just a few button-clicks. The wallet also supports a whopping 1,800 different crypto assets.

However, what sets the Nano X apart is the ability to purchase crypto directly via the Ledger Live app, courtesy of a partnership with Coinify. Doing so allows you to circumvent any transaction fees you would incur by purchasing crypto via an exchange, and then triggering a transfer to your Ledger wallet. This is especially handy at the time of writing, with Ethereum transaction fees sitting at circa $13.

Ledger Live also includes some DeFi functionality, allowing you to put your crypto to work, as well as secure it. A partnership with lending protocol Compound allows you to lend Ethereum-compatible assets and accrue interest as a reward for adding liquidity to the network.

Finally, the Swap tab gives you the opportunity to directly exchange one crypto asset for another (e.g. Bitcoin for Ether), which is a quick way to diversify your portfolio without switching back out to fiat currency. However, this feature is not available in certain regions, such as Japan and the United States.

The main avenue of support is the extensive knowledge base on the Ledger website. Here, you’ll find detailed information on setting up your wallet and transferring crypto for the first time, but also deep-dives into the more complex features and potential technical glitches.

Ledger Academy, meanwhile, is a completely free resource designed to help beginners learn more about the esoteric world of cryptocurrency and the underlying technology, blockchain.

If you still can’t find what you’re looking for in the knowledge base and FAQs, you can make use of the website’s live chat feature or submit a ticket via the online contact form.

However, while Ledger offers its customers a range of different support resources, it would be remiss of us not to mention the security breach suffered by the company in the summer of 2020, which exposed the personal data of hundreds of thousands of customers.

Having gained access to the company’s e-commerce database, hackers were able to lift a variety of personally identifiable data, such as names, email addresses and home addresses. This data was later published online and used by criminals to threaten and extort owners of Ledger crypto wallets.

While the breach itself had nothing to do with the security of the actual hardware wallets, it’s not unreasonable to look upon an incident of this kind as a red flag.

When it comes to rival hardware wallets, the closest competitor to the Ledger Nano X is the Trezor Model T. Both devices have a premium feel and are pretty watertight from a security perspective; it’s only a few small differences that set them apart.

The Nano X is slightly cheaper, but the Model T boasts a touchscreen interface, which is preferable to Ledger’s two-button system. The Ledger device has native apps for a wider range of platforms, but the Model T is completely open source and therefore more transparent.

Both companies also offer cheaper but slightly less feature-rich alternatives: the Ledger Nano S and Trezor One.

The other option is to store your cryptocurrency in a leading hot wallet - such as Exodus, Electrum or Wasabi - all of which are totally free.

Unlike wallets attached to crypto exchanges, non-custodial hot wallets give you control over your private keys. The only downside is that these wallets are connected to the internet, and are therefore more vulnerable to cyberattacks.

The Ledger Nano X is an attractive, highly secure and easy-to-use hardware crypto wallet that will give you peace of mind when it comes to storing your cryptocurrency.

Unlike other hardware wallets on the market, the accompanying app also allows you to purchase crypto directly, as well as exchange tokens for one another and earn interest on your holdings via the lend function.

However, while the addition of Bluetooth allows you to manage your wallet on-the-go, the fact that hardware wallets are designed predominantly for long-term crypto holders anyway means we’d be tempted to opt for the much cheaper Ledger Nano S.

Atomic Wallet is a leading decentralized cryptocurrency exchange platform. It offers safe, reliable, and transparent management of crypto-assets to its users. In the digital crypto ecosystem, the Atomic Wallet provides the best functionality with certain advantages to its users.

The latest atomic wallet is an all-in-one cryptocurrency solution. It is a third-party wallet for certain functionality. The features include decentralization, atomic swaps, anonymity, security, and more.

Furthermore, the wallet is a downloadable application, which is compatible with a host of operating systems. Also, the platform offers an atomic wallet promo code for rewards via Airdrop Campaign.

Konstantin Gladych is the creator of the Atomic Wallet. He is the CEO and Co-Founder of Changelly, which is a leading cryptocurrency exchange.

Investors of the atomic wallet are not available in the public domain.

Founded Year: October 2017

Company Type: Profit

Headquarter Regions: European Union(EU)

Yes, an atomic wallet is a cold wallet. It means that all the data and passwords get stored on the user’s device. As it is not on any server and, so there are no custody risks nor any possibility of losing funds through centralized services.

Furthermore, the risk in Atomic Wallets occurs if you send it to another person. Also, if you lose your backup phrase.

Furthermore, the risks could be tackled effectively by connecting Atomic Wallet with a hardware wallet. Moreover, it creates a shield layer of security. For example, a  button that requires to be pressed manually. It prevents people from stealing funds remotely.

Moreover, the pairing of Atomic Wallet and supported hardware offers features that add security and build confidence.

Additionally, it is mandatory to keep a backup phrase. It is a combination of words provided at the time of the creation of your wallet. Further, this phrase acts as a secondary password. Moreover, it allows and maintains access to the funds held in your Atomic Wallet. Users need to keep it safe and private to protect their accounts.

Also, it’s better to write down phrases in a physical form and store them in a safe place. It helps to restore the account if any technical glitch occurs.

Following mentioned points are the pros and cons of Atomic Wallet

No. According to the atomic wallet review, KYC is not required. Users do not have to engage with platforms that need KYC checks. Therefore, it preserves their anonymity on online crypto platforms.

When you will download the Atomic Wallet. Then users can download the software by clicking the Download button. Furthermore, when the user opens the application, it provides two options to choose from. The first is to create a new wallet, and the second is to restore from backup.

Moreover, if you are a new user then choose the first option. Then it will prompt you to insert your password. Furthermore, once you set the password then it will provide the user a 12-word phrase code. This code needs to be stored safely. Then the wallet is set up successfully.

Besides, after successful login into the Atomic Wallet, the user gets directed to the landing page. It contains certain features, which the platform supports. It includes a wallet, exchange, buying crypto, and atomic wallet promo code, and more.

Step1: Open the Atomic Wallet application on your device. 

Step2: Then, click on the Create Wallet tab.

Step3: Set up a strong password for your account. It’s recommended to use a password manager to keep it secure. Also, make sure to create a unique password if you are creating it on your own. Then click ‘Set Password’. Allow the wallet load.

Step4: Then, you will view your 12-word backup phrase. It is an important step to secure your assets. It’s recommended to write down the phrase and click Open Wallet. 

Step 5: Furthermore step is to enable the Atomic Wallet. It is an anonymous process. However, if you want you can skip this step. Later, click ‘Start using Atomic’.

You are now ready to use your wallet. Also, you could take advantage of the atomic wallet promo code through the AirDrop Campaign.

Follow these steps to buy crypto on Atomic Wallet:

Step 1: Install Atomic Wallet from the app store or browser

Atomic Wallet is a secure and free platform. Moreover, it offers to manage Bitcoin, XRP, ATOM, Ethereum, and more.

Step 2: Verify

The next step is verification. It is important to protect users from any identity theft or online fraud. Also, the Photo ID is proof that will confirm your identity.

Step 3: Get Bitcoin

You need to start with USD 50 up to USD 20,000 daily. Then you will receive crypto on your wallet. Moreover, debit/credit cards are accepted.

Unfortunately, the user cannot directly withdraw from the Atomic Wallet. Furthermore, the platform does not support converting to fiat. However, other services such as sending, receiving, buying cryptocurrency, and storing are easily available.

Follow the below-mentioned steps to transfer Coinbase to Atomic Wallet:

You would be able to transfer CoinBase to Atomic Wallet.

To connect Uniswap to the Atomic Wallet, the user needs to open the Atomic Wallet. Then click on the Settings button, which is in the upper right-hand corner. Further, choose ‘Wallet Connect’ and a QR code scanner will show up.

Here are the further steps to follow if you want to process the trade on Uniswap:

Follow the below mentioned steps to update your Atomic Wallet:

Step 1: Open your Wallet. If the version which you are using is not updated then you will get the message ‘New version of Atomic Wallet Download is available. Then, you have to Click on Download. 

Step 2: Once you click download, the loading will automatically start. 

Step 3: The system would ask to restart. Click on ‘Restart’.

Step 4: Then, enter your password, and you will be able to access your wallet.

Staking is a process that locks atomic wallet coins or tokens in a cryptocurrency wallet. As a result, it generates a reward. Moreover, staking does not require the user to be a technical expert. It is implemented directly from a cryptocurrency wallet.

Furthermore, the Atomic Wallet staking allows its users to stake cryptos without any staking atomic wallet fees. Participants in the staking get rewards directly from the validators. Moreover, the users could review their approximate gain from staking certain crypto coin.

Below is the comparison table. Let’s check

The following crypto wallets are the Atomic Wallet Alternatives

Also, the Atomic Wallet review suggests that the platform has released a mobile version and browser extension. It will significantly work and improve the user experience on the Atomic Wallet platform. Also, the users could enjoy the atomic wallet promo codes and coupons through the Token AirDrop campaign.

Furthermore, with updated ability to withdraw fiat and trading desks, the atomic wallet would be a leading platform for the crypto exchanges. The future of Atomic Wallet would unleash new innovative services in the cryptocurrency exchange market. 

I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates