In order to succeed, we must first believe that we can.

In order to succeed, we must first believe that we can. 

Change your mindset, change your life!

#MoneyTradeCoin #Newage #Cryptocurrency #MTCOIN

The New Version of Bitcoin- Bitcoin Gold

If you’ve been keeping up with cryptocurrency news (and you should; if you don’t, subscribe to Money Trade Coin for all of the latest), you may have heard about a recent development: Bitcoin Gold.

It’s been making all of the news in the Bitcoin world, but many people are unsure of what it is and why it’s been drawing so much opinion. So let’s get into, shall we?

The architects behind Bitcoin have released this new version of Bitcoin, which is basically a new currency, to combat the influence of excessive miners on the Bitcoin network. The trouble with the cryptocurrency is that the mining of new bitcoins (which if you don’t know, is how anyone can get more bitcoins; read more here), can often find itself limited to a selected group of individuals who know how the system works and use it to gain as much as possible. This leaves Bitcoin mining a difficult prospect for a large portion of the network.

Bitcoin Gold, characterized as a fork in the road for the cryptocurrency, attempts to resolve that issue, while also offering a potential solution to greater scaling and governing conundrums. It also attempts to alter the current proof-of-work algorithm that Bitcoin uses, to a more modern one, rendering mining equipment based on the older algorithm obsolete.

What this will mean is that Bitcoin mining will become faster, cheaper and more accessible to the public - everyone will be able to do it and do it more easily. This is in keeping with Bitcoin founder Satoshi’s belief that the cryptocurrency network should be a democratic one, not in the hands of certain individuals or groups who control mining.

There are both backers and critics of the new currency. The latter sees concerns about security and stability with Bitcoin Gold, though the former says that is expected for any new entrant in the digital currency space. The underlying advantages of blockchain technology apply to this new currency and should immunize it from the aforementioned effects.

Right before the release of the Bitcoin Gold, the development team announced that they would introduce a ‘replay protection’ system. This new policy would prevent users from spending both Bitcoins and Bitcoin Gold to make a transaction. This prevents from sending cryptocurrency to unintended recipients. Because it is all occurring on the same network, there is a chance that this might occur. But the replay protection system prevents it from happening.

One thing is for certain: the fact that Bitcoin now possesses two separate currencies is a sign that the mania behind cryptocurrency is spreading and that people show more interest and confidence in it. Bitcoin Gold is currently valued at about $130. The value is expected to increase over time, though no one is willing to make exact predictions, given that it is a new experiment in the already unchartered territory of cryptocurrency.

#MoneyTradeCoin #Newage #Cryptocurrency #MTCOIN

The Action is the foundational key to all the success.

The Action is the foundational key to all the success.
Take a road to success with action in a right direction.

#MoneyTradeCoin #Newage #Cryptocurrency #MTCOIN

Guide to Your Cryptocurrency Wallet Applications or Uses

Guide to Your Cryptocurrency Wallet Applications or Uses

At Money Trade Coin, we’ve talked extensively about cryptocurrency wallets - the different types, their advantages and disadvantages and the situations for which each one is best suited. 

Now, assuming you’ve decided which wallet you want, what next? Do you just put some cash in and begin the spending spree? 

No. It works a little differently with a cryptocurrency wallet. That’s what today’s lesson will be about. 

The First Step:

Regardless of whether you’ve got a desktop, mobile or online wallet, you’ve got to make sure the device you use is secure. This means triple-checking your system for malware, viruses and remote-access tools. 

There are other steps, which require some technical expertise. that can be taken to protect your wallet. We’ll dive into this in an upcoming post.

How to Use Your Wallet:

Though it varies a little from wallet to wallet, the general procedure of using and wallet is the same across all types of wallets.

First, you’ll have to open an account on your chosen wallet type/client. There are numerous choices, with some most definitely better than others. We can’t overstate the importance of choosing the right wallet. Here’s a sizable list.

Once you’ve selected a wallet and opened an account, you’ll have to set a password. Set a strong one, but one that you can remember. You cannot risk forgetting/losing this password as it is the only way you’ll be able to access your wallet.

After you’ve done this, you’ll receive a unique coin (or whichever currency) address that is linked to you and only you. This is the address you’ll be offering to others for them to deposit currency in. You can use multiple addresses, which further strengthens your anonymity on the network. 

There are a few things to note here. You’ll have to backup your wallet frequently before you make any transactions. You’ll also have to back up your private key, without which you cannot move your currency away from the address associated with any wallet. 

Paying someone else on the blockchain network is straightforward. On the send section of your wallet, enter all of the requested details on the form. Make sure you’ve entered the details correctly. You’ll have to enter your password. The payment will be sent out.

The best way to learn about wallets and how to use them is...by actually using them. Go out there and set up a wallet. Conduct a few transactions and get a feel for how the system works. It’ll be second nature in no time. 

#MoneyTradeCoin #Newage #Cryptocurrency #MTCOIN

At first, they'll ask you why you're doing it, Later they'll ask you how you Did it.

At first, they'll ask you why you're doing it.
Later they'll ask you how you Did it.

Don't be afraid to break the boundaries!

#MoneyTradeCoin #Newage #Cryptocurrency #MTCOIN

The Different Types of Cryptocurrency Wallets

Just when you think you know something about cryptocurrency, you learn something new that puts you back in your place. People can understand what a cryptocurrency wallet is, and how it works and its difference from a regular wallet, but they can get confused when it comes to the various kind of wallets that are available.

Have no fear though, that’s why Money Trade Coin is here - to help you!

In our last post, we quickly skimmed through the various types of wallets, without really diving into the pros and cons of each. Today, we’ll go through them in detail, so you better informed when you decide to pick up a cryptocurrency wallet.

Broadly, there are two kinds of wallets: hot wallets and cold wallets. The former has an online presence and can be accessed by hackers, though they are generally very secure. The latter are physical wallets and are stored offline, where it is inaccessible to hackers.

Getting more specific, there are 5 different kinds of wallets. We’ll look at the pros and cons of each.

Online Wallet
Pros:
● Good for small values of cryptocurrency
● The quickest transactions
● Some online wallets have features that support exchange and multiple cryptocurrencies

Cons:

● Your wallet information is stored with third-party services
● Comparatively less secure and accessible to hackers

Desktop Wallet
Pros:
● More secure than a web wallet
● Can be used as a cold wallet
● No information is stored with a third-party

Cons:
● If you don’t backup your wallet, a computer crash could result in total loss
● Viruses and malware can potentially be a threat to your savings
● If you do connect to the internet, it is accessible to hackers

Hardware Wallet
Pros:
● Extremely secure, as it is stored offline
● Can also be connected to the internet, if required

Cons:
● Can be difficult to use, especially for beginners
● Difficult to get a hold of

Mobile Wallet
Pros:
● The most practical wallet can be used in stores
● Ideal for small transactions
● Often has other features like QR code scanning

Cons:

● Phones are extremely vulnerable devices, prone to attacks by hackers, viruses, keyloggers, and malware

Paper Wallet
Pros:
● Extremely secure, as the private keys are stored with you
● Only you have access to the keys

Cons:
● The keys must be stored safely at all times
● Suited for the technically inclined
● Generally more difficult to use
● Can be impractical

Which Kind of Wallet is Suited for You?

If security is your biggest concern, then a hardware wallet is the way to go. If you plan to use your cryptocurrency frequently, to purchase at retail stores, a mobile wallet is more suitable. Online wallets are the simplest to use, requiring little technical know-how, and are perfect for regular minor transactions. In some sense, the paper wallet is the riskiest to use, as you will be in possession of the private key to the wallet. If you misplace the key, you’re in trouble.

Think about of what you want out of the wallet and how you plan to use it. You can then pick a wallet that suits your requirements.

#MoneyTradeCoin #Newage #Cryptocurrency #MTCOIN

In order to succeed, your desire to succeed should be greater than fear of failure.

In order to succeed, your desire for success
Should be greater than fear of failure.
Overcoming your fear is in your hand!

#MoneyTradeCoin #Newage #Cryptocurrency #MTCOIN