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Setting up a Trezor Model T Hardware Wallet from scratch

This is a promoted post. Read more in our Editorial Policy In the second of our series of articles on the Trezor Model T, we look at how you can set up your wallet from scratch, and what cryptocurrencies are available for you to hodl on your wallet. You can read our article on how to buy a Trezor Model T and Unboxing. Once you have wallet, you first need to connect it to a computer (or Android smartphone) using the cable. We’re using a PC using Windows in this guide. Once you connect the wallet, you’re welcomed by a

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This is a promoted post. Read more in our Editorial Policy

In the second of our series of articles on the Trezor Model T, we look at how you can set up your wallet from scratch, and what cryptocurrencies are available for you to hodl on your wallet. You can read our article on how to buy a Trezor Model T and Unboxing.

Once you have wallet, you first need to connect it to a computer (or Android smartphone) using the cable. We’re using a PC using Windows in this guide.

Once you connect the wallet, you’re welcomed by a bright white screen with the Trezor Logo, and a welcome message telling you to go to Trezor.io/Start. On this screen, you need to choose which model Trezor you’re using, so we select the Model T. The first thing it does now is shows an animated gif of the hologram, to confirm that the device hasn’t been tampered with. Once you’re happy with this, can you can continue to the wallet.

Out of the box, the Model T doesn’t have firmware, so you’ll need to install this first. This takes a couple of minutes to download the firmware, and install it on the device. Once it does, it reboots, and the wallet then gives you the option to set up a new device or recover an existing wallet.

In this article, we’ll look at how to set one up from scratch as a new wallet.

Selecting a new wallet, it then prompts you to read the terms of service. You can accept this by pressing the touch screen on the Trezor. It then asks you if you’d like to enable labelling. This enables you to connect your wallet to Dropbox, so that you can store notes about your wallets and transactions (encrypted of course) and secured by the private key on your device. In order to do this, you need to the connect to a dropbox account.

Once you’ve made that decision, you’re now into your wallet. You can commence generating your first bitcoin address to send funds to, but it prompts you to do a backup first, and this is highly recommended.

In the first step, you accept to make a backup. This is where the paper copy that comes in the accessory pack comes into play, or if you’re shelled out on a cryptosteel. There are 12 words which are displayed on your device, 4 at a time. You write these down in the order given, and it will then prompt you to type in two random ones to confirm you have it saved ok. This means that should you lose your device, or forget your encryption password in the future, you can get back into all your various crypto (and if you’ve enabled labelling, all the transaction notes too).

Once you have swiped through the 12 words and written the down, you then hold the button on the screen for a few seconds to confirm. Next it will ask you to type two words on the screen. You touch the letters and press till you get the right letter. It’ll auto suggest a word, and as you work through the letters, it’ll get you to the word you want. Once you’re at it, you then confirm by pressing the word which brings up a tickbox. Hold the word on screen for a second and it’ll prompt for the next.

You can then choose not to continue, and start using your device, or proceed to add a Pin lock. The pin lock gives a second level of security in a few ways. Firstly when you load up your device or do any actions, it’ll prompt you for the pin as a double check you want to do any actions (open the wallet interface, send funds, enable labelling etc). It’ll prompt you on the device to enable a pin, and you can type one in. As with the older device, Trezor uses a slight variation on the pins to prevent your pin being seen. Instead of showing the numbers in 1-9 order like on a phone keypad, it randomises the positions. So you’ll need to make sure you know the number, and then enter them in the right order on the screen, and then confirm them to add your pin.

Once that’s done, you can then name your device (handy if you have several and want to know which is which), and once that’s done you’re prompted to bookmark the wallet address in your browser, sign up to the newsletter and follow Trezor on Social Media.

Once you’ve finished these steps and decided if you want to, your backup is complete.

On the homescreen option of the device, you an then decide if you want to change the default image that’s shown on your Model T, and you can choose from one of the default ones, or upload your own 144×144 image which will be displayed instead.

Next up., you’ll want to go into Wallet settings, and choose your base currency. It defaults to dollar, but you can choose from all the major currencies, in my case Euro. Once you choose this and click save and reload, it’ll restart the wallet in your browser.

If you really want to secure your wallet further, if you click on your device, and into advanced there is the option for Passphrase security. What this does is to put a second, hidden layer of wallet addresses behind a further level of encryption. So for instance, if you enable this, when you load the device without it, it’ll show blank wallets, while if you have it enabled, you can ensure that your wallets are doubly protected. Also, this adds another factor of authentication when you’re doing transactions, enabling labelling.

A word of warning, if you forget your passphrase key, there is no way to get into your wallets without it, so here be dragons. When you choose this, it’ll prompt you to confirm you want to on the device, and then it’ll restart your device. You need to then disconnect and reconnect your device. It’ll first prompt you for your pin. Once you enter that, you can choose to enter your passphrase on the Trezor itself or on your computer. Once you have done this, it’ll then set the password, and you can choose to enable labelling or not.

With this complete, you now have a fully set up and secured crypto wallet!

So next up is to start generating some addresses. You can generate up to to 20 bitcoin wallet addresses initially. If you want more, you just have to make sure that there is a confirmed balance on some of the addresses you’re using, and then you can generate more. You can click show full address to see the full address on-screen and on the device (again another level of security to prevent any malicious plugins on your browser from hijacking crypto wallet addresses), and if you have labelling enabled, you can edit the label, for instance if a specific wallet is for a particular purpose. This lets you keep track of things.

Once you select your first wallet, and send it some crypto, then you’re ready to go!

In a separate article we’ll look at restoring an existing wallet, such as if you’re upgrading from the Trezor One to a Model T.

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Source: https://bitcoinsinireland.com/setting-up-a-trezor-model-t-hardware-wallet-from-scratch/

Blockchain

Robinhood Testing New Cryptocurrency Wallet as Demand Rises

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The millennial-focused trading portal is edging closer to launching a long-awaited app that will enable its growing user-base to send and receive cryptocurrencies.

A beta version of Robinhood’s iPhone app showed the company’s latest upgrades on the new digital asset features, according to Bloomberg.

There is a hidden image showing a waiting list for users eager to get their hands on the app and code referring to crypto transfers, it added.

Delving Deeper into Crypto

Robinhood users can already buy and sell cryptocurrencies on the platform but they need to convert them to and from USD. With a native app, users will be able to send crypto assets to each other directly and set up two-factor authentication for additional security.

Robinhood Chief Executive Officer Vlad Tenev stated that adding crypto wallets is a priority for the company’s developers and they are actively working on such.


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“The ability to deposit and withdraw cryptocurrencies is tricky to do with scale, and we want to make sure it’s done correctly and properly.”

He did not specify a launch date, but the beta app leak suggests it is not too far away. Users of the new functions will need to activate crypto sending and receiving and the registration page will require an identity check, the report added.

On Sept. 11, CryptoPotato reported that Robinhood had launched incentives to promote longer-term cryptocurrency investing. The zero-fee recurring purchase feature enables users to schedule digital asset purchases for regular intervals with buys as low as a dollar.

This will encourage customers to build their cryptocurrency portfolios over time and “become a whole coiner,” stated Robinhood.

Robinhood Users Hungry For Crypto

Cryptocurrency trading has been one of the biggest drivers of revenue for Robinhood this year. Dogecoin has been the crown jewel, according to the company. It reported that 62% of its $233 million in second-quarter crypto income came from DOGE trading.

It added that more than half of all transaction-based revenue on the platform came from digital asset trading. The firm did warn that Q3 would not be as prosperous due to “seasonal headwinds and lower trading activity across the industry.”

Robinhood share prices have already fallen 43% since their all-time high of a little over $70 in early August. They are currently trading down 1.68% since Monday’s open at $40.70 according to Yahoo! Finance.

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Source: https://cryptopotato.com/robinhood-testing-new-cryptocurrency-wallet-as-demand-rises/

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Blockchain

Snoop Dogg Reveals His Connection With Twitter Account on NFTs

Snoop Dogg Twitter

Rate this post American rapper Snoop Dogg tweeted on Monday that he’s the owner of a Twitter account that talks about nonfungible tokens (NFTs). The account, named @CozomoMedici, shares “insights and tales from the wild world of NFTs” and has 27.7K followers at the moment. Snoop Dog Claims to Be Popular NFT Advocate on Twitter Snoop Dogg left the crypto community stunned this week after he revealed himself as the owner of a Twitter account dedicated to NFTs.  The account Cozomo de’ Medici, named after an Italian banker, is only a month old. However, it has already garnered attention from industry watchers and even a mention from crypto-focused news outlet The Block.   According to The Verge, the person behind the Medici account had been creating hype around their real identity for “at least a few days” and even conducted a poll for their followers to take a guess. The poll featured Democratic congresswoman Alexandria Ocasio-Cortez and Matt Bellamy, the lead singer of the rock band Muse. Snoop, however, was not mentioned in the poll. On September 20, @CozomoMedici tweeted that they were about to reveal their identity from their account. Shortly after, Snoop Dogg tweeted “I am @CozomoMedici.”   Interestingly, after making this revelation, the Medici account bought two weed-themed collectibles from an artist named NyanDogg, The Verge reported. Additionally, Snoop’s alleged OpenSea account has been sent  “a cloud of blunt and Snoop-themed NFTs” following the reveal. Is Medici Account an Elaborate Prank? The Medici account could likely turn out to be an elaborate prank, one that Snoop might have engineered himself or just participated in. Many reactions to Medici’s reveal have also expressed skepticism about Snoop’s involvement. “I have a hard time accepting that this account is Snoop Dogg. Like seriously Snoop Dogg muted his live stream for a week (?) by accident. And he is that deep into NFTs out here owning crypto punks… Owning Eth using OpenSea. Would love that to be true but I can’t believe it,” Twitter user @Brandolf485 wrote in the comments. Nonetheless, the crypto community will have to continue looking for concrete proof till Snoop’s involvement with the account is confirmed. 

The post Snoop Dogg Reveals His Connection With Twitter Account on NFTs appeared first on Cryptoknowmics-Crypto News and Media Platform.

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American rapper Snoop Dogg tweeted on Monday that he’s the owner of a Twitter account that talks about nonfungible tokens (NFTs). The account, named @CozomoMedici, shares “insights and tales from the wild world of NFTs” and has 27.7K followers at the moment.

Snoop Dog Claims to Be Popular NFT Advocate on Twitter

Snoop Dogg left the crypto community stunned this week after he revealed himself as the owner of a Twitter account dedicated to NFTs. 

The account Cozomo de’ Medici, named after an Italian banker, is only a month old. However, it has already garnered attention from industry watchers and even a mention from crypto-focused news outlet The Block.  

According to The Verge, the person behind the Medici account had been creating hype around their real identity for “at least a few days” and even conducted a poll for their followers to take a guess. The poll featured Democratic congresswoman Alexandria Ocasio-Cortez and Matt Bellamy, the lead singer of the rock band Muse. Snoop, however, was not mentioned in the poll.

On September 20, @CozomoMedici tweeted that they were about to reveal their identity from their account. Shortly after, Snoop Dogg tweeted “I am @CozomoMedici.”

Interestingly, after making this revelation, the Medici account bought two weed-themed collectibles from an artist named NyanDogg, The Verge reported. Additionally, Snoop’s alleged OpenSea account has been sent  “a cloud of blunt and Snoop-themed NFTs” following the reveal.

Is Medici Account an Elaborate Prank?

The Medici account could likely turn out to be an elaborate prank, one that Snoop might have engineered himself or just participated in. Many reactions to Medici’s reveal have also expressed skepticism about Snoop’s involvement.

“I have a hard time accepting that this account is Snoop Dogg. Like seriously Snoop Dogg muted his live stream for a week (?) by accident. And he is that deep into NFTs out here owning crypto punks… Owning Eth using OpenSea. Would love that to be true but I can’t believe it,” Twitter user @Brandolf485 wrote in the comments.

Nonetheless, the crypto community will have to continue looking for concrete proof till Snoop’s involvement with the account is confirmed. 

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Source: https://www.cryptoknowmics.com/news/snoop-dogg-reveals-his-connection-with-twitter-account-on-nfts/

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TA: Ethereum Breaking This Confluence Resistance Could Spark a Recovery

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Ethereum started a major decline below the $3,200 support zone against the US Dollar. ETH price traded as low as $2,807 and it is now attempting a recovery wave.

  • Ethereum started a fresh decline below the $3,300 and $3,200 support levels.
  • The price is now trading below $3,200 and the 100 hourly simple moving average.
  • There is a key bearish trend line forming with resistance near $3,020 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could a steady recovery wave if there is a close above $3,050 in the near term.

Ethereum Price Corrects Losses

Ethereum started a major decline from the $3,500 resistance zone. ETH traded below many important support zones near $3,300 and the 100 hourly simple moving average, similar to bitcoin.

The bears gained strength below the $3,200 support zone. Finally, ether spiked below $3,000 and extended its decline. A low is formed near $2,807 and the price is now correcting losses. There was a break above the $2,920 and $2,950 resistance levels.

The price recovered above the 23.6% Fib retracement level of the recent decline from the $3,455 swing high to $2,807 low. An immediate resistance on the upside is near the $3,020 level. There is also a key bearish trend line forming with resistance near $3,020 on the hourly chart of ETH/USD.

Ethereum Price

Source: ETHUSD on TradingView.com

A close above the $3,020 and $3,050 levels could start a decent recovery. The next major resistance might be near the $3,130 level. It is near the 50% Fib retracement level of the recent decline from the $3,455 swing high to $2,807 low. A clear break and close above the $3,130 level could start a steady increase. The next major resistance sits near $3,300.

More Losses in ETH?

If ethereum fails to correct higher above the $3,020 and $3,050 resistance levels, it could start another decline. An initial support on the downside is near the $2,960 level.

The next major support seems to be forming near the $2,900 level. A downside break below the $2,900 support zone could lead the price towards the $2,800 zone. The next major support is near the $2,750 level, below which ether price might decline towards the $2,640 support zone.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly losing pace in the bearish zone.

Hourly RSIThe RSI for ETH/USD is still well below the 50 level.

Major Support Level – $2,960

Major Resistance Level – $3,050

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Source: https://www.newsbtc.com/analysis/eth/ethereum-confluence-resistance-3050/

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