Exchanex

Bitcoin and Cryptocurreny Exchanges and Trading

Author: Crypto

jack dorsey Bitcoin exchange resignation

tbDEX Decentralized Exchange

jack dorsey Bitcoin exchange resignationUsing GitHub as their medium, payments titan Square recently published a white paper about a new decentralized tool for trading assets. Now referred to as tbDEX, the platform will use verifiable credentials and decentralized identity to establish trust. In the white paper, one of the team’s developers asserts that the project’s goal is to encourage an environment in which regular people reap the rewards of cryptocurrencies.

The CEO of Square, Jack Dorsey, expressed a few months ago that he was interested in building a platform for a decentralized BTC exchange. This open developer project would be propelled by TBD, which is a new department at Square that is specializing in DeFi (decentralized finance).

The person at the helm of this new project is Mark Brock. On Twitter, Brock revealed that his ultimate goal is to create a decentralized exchange that deals in regular currency. Brock believes that the best means to this end is a non-custodial wallet. Using this wallet in conjunction with BTC off-ramps, users would be able to freely exchange and transfer funds. All along the way, the Square team has indicated that they are very interested in user participation during the course of this new payments project; this is why the white paper was published on GitHub in the first place.

 

Download the tbDEX Whitepaper here

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Cryptocurrency Wallets

Best Crypto WalletsUsing a Cryptocurrency Wallet

Cryptocurrency is all over the news and the Internet, especially since a few early adopters struck gold with Bitcoin. Everyone is wondering how it works and whether they should think about adding cryptocurrency to their financial strategy. It is a little more complicated than your typical financial transaction, and it involves the use of a tool known as a cryptocurrency wallet. This guide will help you get started using a crypto wallet so you can conduct cryptocurrency transactions.

Cryptocurrency wallets are methods of storing private and public keys used in cryptocurrency exchanges, as well as connecting the user to blockchain. Using the wallet, you can send and receive cryptocurrency like Bitcoin and track your exchanges.

How It Works

When you think of a wallet, you think of the cash stored in a person’s purse or pocket. Crptocurrency wallets don’t work that way. None of your money is actually stored within the wallet. Even the cryptocurrency itself isn’t a tangible thing. What it does contain is all of the information you need regarding your cryptocurrency transactions.

The software of cryptocurrency wallets allows you to store your public and private keys (numbers used to link transactions), check on your currency balances, send currency and receive currency. Basically, people are trading cryptocurrency using the wallet’s connection to blockchain. The keys you store within the wallet are the identifying numbers used to match cryptocurrency to your wallet. If someone sends you currency, the key used must match your wallet’s key for it to appear.

Types of Cryptocurrency Wallets

Bitcoin LogoYou have several options when it comes to cryptocurrency wallets. Which works best for your needs will depend a lot on your lifestyle and security preferences. Do you want access while you’re on the go or do you feel safer keeping your cryptowallet at home on your desktop? The primary options you have are software, hardware and paper.

Software wallets: Software wallets are installed on your desktop, laptop, mobile device or online. You can only access a “desktop” wallet via the PC or laptop on which you downloaded it. This is best if you have a highly secure machine. Online wallets are stored on the cloud, which allows you to access them anywhere. However, they’re only as secure as the third party running them. Mobile wallets are handy if you want to use them on the go. However, they are only as secure as your mobile device and passwords.

Hardware wallets: Hardware wallets are stored on hardware. This allows you to store all of your information offline, and you can plug in your hardware to any compatible device. Stealing your cryptocurrency becomes harder for anyone who can’t physically get hold of the hardware storing your wallet.

Cold Storage:  Cold storage wallets are like hardware wallets such as Ledger, but according to BestCryptos they are offline and using include security.

Paper wallets: Paper wallets can be one of two things. The term can refer to an actual paper copy of public and private keys. It can also refer to software that generates keys for printing. They offer more security than wallets stored online.

Security

While cryptocurrency isn’t real currency, it still has monetary value. Therefore, people will try to steal it. The security of your wallet is important, which is why you have to choose the right type of cryptocurrency wallet for your needs. You get more security from an offline wallet than you do from an online wallet. Hackers can exploit vulnerabilities in online storage to access cryptocurrency. Without getting their hands on a physical copy of an offline wallet, they can’t hack into it.

You also have the option of storing some cryptocurrency online and some offline. Store the bulk of your currency in a very secure setting offline. Store a smaller amount, such as the amount you would use for online shopping, online. Make sure you backup your offline wallet like any other important financial information, as viruses and computer failures can damage the information. Also remember that software updates often fix vulnerabilities, so keep your software, both for your device and for the wallet, up to date.

You don’t have to rely solely on the security of the wallet you are using to secure your cryptocurrency. Using multisignature wallets and two-factor authentication adds extra layers of security to your storage. You should also use long, complex passwords that are easy for you to remember. Try using a nonsense sentence, complete with punctuation, spaces and at least one numeral.

Storing Multiple Cryptocurrency Types

You’re more likely to be storing Bitcoin than any other cryptocurrency. However, you may prefer to spread your transactions out across multiple currencies. You can find wallets that support multiple cryptocurrencies, so that you don’t have to have one for each type you trade.

Transaction Fees

Transaction fees are usually part of trading cryptocurrencies. However, you get to choose how much you are willing to pay. You may even pay nothing at all. Just remember that the lower your transaction fee, the longer it may take for it to complete. If you need your bitcoin right away, you may have to set your fee higher. If you can wait longer, set it lower and save small amount of money. Cryptocurrency transaction fees are quite low compared to bank fees.

Anonymity

One of the things that often comes up when discussing cryptocurrency is identity protection. There is a rumor that wallets are completely anonymous, protecting criminals and leaving no trail back to the owner of the currency. That’s not quite true. Your wallet doesn’t necessarily have your identity linked to it, but your transactions are all public record. Savvy individuals can trace your wallet and transactions back to you. If you’re interested in complete anonymity, look into the DarkWallet project. It’s focus is finding methods to make it harder to track bitcoin transactions back to their originators.

 

 

 

 

May 11, 2018

Managed Bitcoin Mining

Managed Bitcoin Mining

bitcoin logoTraditionally, Bitcoin mining can be a major hassle. It entails buying, operating, maintaining and upgrading ASIC miners, which are highly specialized computers built to mine the cryptocurrency. This is a major operational obstacle, and it requires a large amount of wealth, both upfront and recurring, and constant effort to maintain. Thankfully, there’s a better way to enter the booming Bitcoin mining business without the massive capital expenditures and day to day headaches: Our managed mining hosting partners.

What is Managed Mining?

Managed mining is a simpler and hassle-free way to enter the Bitcoin mining field without ever having to buy expensive hardware.

Miners seek to maximize a unit called the terahash, which measures the speed of a given Bitcoin miner. The more terahashes a miner can bring to the table, the more profitable they can be. While traditional miners purchase ASIC rigs to achieve the necessary terahashes, our managed mining solutions allow clients to purchase terahashes directly from a managed mining provider. Once it’s set up, a client only needs to connect their Bitcoin wallet to receive their daily earnings.

What are the Advantages of Managed Mining?

  • 100% uptime guarantee: make money around the clock!
  • Better cost/terahash ratio compared to traditional mining (see analysis below).
  • Start mining Bitcoin almost immediately.
  • 24/7 support for our clients.
  • Investments are privately insured.
  • Market insights and ROI guidance.
  • Tax and legal guidance.

What Return on Investment Can I Expect?

Here’s an example. As you can see below, after ten months of mining this client had recouped 82% of their initial investment in November 2020. The following month, they had already gained back their principal and still had 26 months left of mining, all of which would yield pure profit.
An investment of $25,000 on December 18th of 2020 would have bought 1.1 BTC. If that same money had been invested in our managed mining operation, that investment would have yielded between 6 and 7 BTC over the course of 36 months, an over 600% increase in returns.

Comparing Managed Mining to Traditional Manual Mining

Traditional Bitcoin mining has a high barrier for entry for most investors, because the space is both constantly evolving and populated with well funded mining pools and corporations. Let’s explore these challenges:

Finding the “Best” Mining Rig.

After researching the rigs that have the best ratio of terahash to cost ratio, you’d then need to find a supplier that has them in stock within your time frame. For reference, Bitmain, the largest manufacturer of ASIC rigs, is currently sold out of their top of the line SHA 256 miners, and they might not be back in stock until October 2021. Those state of the art SHA 256 rigs ship from China, and thus are subject to customs fees, import taxes, and shipping expenses. On top of all that, current global conditions could easily cause a delay in the shipping process. Even when ordered, it may still be months before they could arrive.

A fully managed Bitcoin mining contract eliminates these barriers, as ASIC mining rigs have already been secured and are prepared to begin mining immediately upon contracting.

Finding an Affordable Power Source

This is the next hurdle for traditional Bitcoin miners, as ASIC rigs consume enormous amounts of power. It can be impossible to make a return on investment if the cost of running the rigs exceeds the value of the Bitcoin they mine. If electricity costs exceed 7 cents per kilowatt/hour, then it may be impossible to ever recoup costs, let alone make any sort of profit. Even if you have a cheap source of power, expect nearly all of it to be consumed by the rigs. This leaves many to turn to colocation farms, which are businesses that will provide space, internet, cooling, and electricity to your ASIC rig for a monthly fee. Not only will this fee eat into profits, but additional shipping expenses will be required to send your rig to them. Even then, many colocation farms have risen and fallen over the years due to a competitive industry and the highly volatile price of Bitcoin itself. A drop in BTC’s value can easily bankrupt a poorly managed or poorly planned farm.

Managed mining solutions do away with these hurdles as well, as the best and most resilient mining farms have already been contracted and the cheapest possible power sources have been negotiated. As a result, clients can expect 100% uptime.

Maintenance, Troubleshooting and Insurance.

These are the next barriers to entry for traditional miners. Next gen ASIC mining rigs such as the Antminer S19 or the S19 Pro require ample ventilation and consume 220v power. These rigs will need to run at top end speeds every minute of every single day, and that means inevitably they’ll require repair and maintenance. Inexperienced or unknowledgeable owners will likely be unable to maintain these rigs at optimal capacity.

The rigs used by managed mining are fully insured, meaning investors are guaranteed their contracted terahash.

Let’s compare managed mining to traditional (with an Antminer S19 Pro), by the numbers:

Fully Managed Mining – 1000Th
Total Upfront Cost: $39.95/Th ($39,950)
Running Cost Per Month: $1,690 ($1.69/Th & 0.8% Pool Fee assumed)
Uptime: 100%
Hosting Deposit Upfront: $0
Total Bitcoin Mined Over 36 Months: 5.8 – 6.2
Months to Breakeven: 8 – 10

Buy/Host S19 Pro 110Th – 9 units ($8,500/unit)
Total Upfront Cost: $77.27/Th ($76,500)
Running Cost Per Month: $1,300 ($0.06kWh & 2% Pool Fee assumed)
Uptime: Unknown
Hosting Deposit Upfront: $1,300 – $2,600
Total Bitcoin Mined Over 36 Months: 5.8 – 6.2
Months to Breakeven: 15 – 18

Minimum investment is $19,975 USD, $39.95/TH. For pricing options and to learn more, contact us:

Coinex Cet Dividends

Trade Driven Mining

CET Holders- Long-Term Plan For Allocation Of Dividends

Attention Users Of CoinEx,

Monero

Monero Logo

During the time period of our “Trade-Driven Mining”, our company plans to give back 80-percent of the revenue we receive from the transaction fees back to our CET holders in the form of dividends. Once the mining period is officially finished, the full amount of 50-percent of the free allocation of the CET supply is going to be distributed out. In order to guarantee that the development of CET stays sustainable for our holders, we have decided to opt for a long-term plan of dividend allocations. This means that our CET holders will begin receiving their dividends each time after the end of a “Trade-Driven Mining” period is over. Eighty-percent of our revenue will go back to our holders and the rest of the 20-percent is going to be used for the purpose of continuously developing CoinEx and paying for day-to-day operations.

These Are The Following Arrangements:

1. Ratio Allocation- At least 80-percent of total revenue from CoinEx will be given back to the CET holders each period as dividends.
2. Frequency- The dividends will be given out to CET holders each month.
3. Allocation- 80-percent of total revenue will be used for the repurchasing of CET from a secondary market. The purchase will then be allocated to each qualified CET holder in a proportionate amount. For those that have CET holdings with CoinEx, your dividend allocations are going to be put directly into your current account. If you do not have a CoinEx account, your dividends will be sent to your specific wallet address. Additionally, the 50-percent from CoinEx’s team will also be available for the allocation of dividends as well.

The next step will be the cancelling of current policies in order to repurchase. The repurchase will be used to burn CET using the revenue of the 20-percent monthly transaction fees.

Note: This allocation plan goes into affect each month once the mining period officially ends. Please pay attention to further announcements on the subject.

Buy Dodge Coin

Dogecoin

Learn How to Buy Dogecoin

 

Dodgecoin Image LogoDOGE coin continues to gain traction as an attractive crypto option. To this day, DOGE enjoys a vibrant online community and an enthusiastic fan base. It’s predominantly the crypto of choice for many for contributing to crowdfunding efforts and tipping content creators.

Just like other cryptocurrencies, DOGE transactions are person-to-person, without passing through the banks, making it appealing to hobbyists who want to grow their investment portfolio securely and without the paper trail.

DOGE has a friendly monetary policy that allows you to buy as many coins as possible. At first, the DOGE cap was at 100 billion coins, but the developers soon eliminated it just a few months after its launch.

Each year, the software continues to release 5 billion DOGE into the crypto market. BY February 2018, there was more than 113 billion DOGE mined on the software. Here are some commonly asked questions about DOGE.

Why Buy DOGE?

For starters, DOGE lets you experiment with crypto trading without committing too much of your financial resources. Thanks to the easy-to-use features, you and your friends can understand cryptocurrency better.

You can also use DOGE to reward content creators for their content creations that you love to watch. And what’s more, you can buy or sell goods and services using DOGE.

Where Can I Buy DOGE?

You can buy DOGE coin cryptocurrency through a secure and trusted global exchange such as Kraken, Coinbase, Coinex, Binance and others. The Kraken exchange platform offers the lowest fees in the market. And if you should lose your DOGE private key, the Kraken software can help you recover your funds securely.

Kraken lets you execute large DOGE buy orders, but you can also buy DOGE on a budget. It offers a minimum order of 50 DOGE to expose you to various assets before you can scale up your crypto investment.

How Can I Buy DOGE?

Buying DOGE is an easy and secure process. Follow these four steps to buy DOGE from your crypto wallet.

1. Sign up for an Account

First, you need to sign up for a Crypto Exchange account. Create a username and use a strong password to secure your account.

2. Verify Your Account

You can buy as much DOGE using another crypto such as LTC or DASH after providing your name, contact details, date of birth, and country of residence. You will need to provide further supporting documents to use fiat currency- USD or EUR.

3. Fund your Kraken Account

You can use a unique reference number to transfer funds from your bank account to Kraken through a bank transfer. The platform supports various currencies- USD, GBP, EUR, CAD, CHF, and JPY. You can also click on your local currency for specific deposit options.

4. Purchase DOGE

Now that you have funds in your wallet, you can buy DOGE! A premium account gives you access to 24/7 global client support, advanced charting tools, and the ability to utilize margin trading that gives you more complex active trading strategies and the opportunity to earn more than 5x.

Where Can I Store my DOGE?

While Kraken is secure, it’s much safer to store your DOGE in a wallet. The wallet is a hardware device you keep or software that securely saves the private and public keys you will require to make crypto transactions. You don’t want this information falling into the wrong hands.

Hardware wallets securely and remotely store your access keys in the long term, while web and mobile wallets make your daily DOGE transactions easy.

You can readily retrieve these keys when you want to make a DOGE transaction from your wallet. To find a wallet that fits your needs, decide what you plan to do with your DOGE tokens.