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Things To Consider When Choosing A Bitcoin Wallet

Nowadays, trading or investing in Bitcoin and other digital currencies are made accessible via online trading platforms and Bitcoin wallets. Since you’ll need at least one Bitcoin wallet before you can buy or sell cryptos, it’s suggested to use the best one. There are many Bitcoin wallets available online. Some are superb, while some may…

The post Things To Consider When Choosing A Bitcoin Wallet appeared first on Cryptoverze.

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Nowadays, trading or investing in Bitcoin and other digital currencies are made accessible via online trading platforms and Bitcoin wallets. Since you’ll need at least one Bitcoin wallet before you can buy or sell cryptos, it’s suggested to use the best one. There are many Bitcoin wallets available online. Some are superb, while some may lack a lot of essential things. 

That’s why before signing up for a Bitcoin wallet, you should do in-depth research. You should consider the following to get a Bitcoin wallet of right choice:

1. Security Features

One of the first things you need to consider when choosing the best bitcoin wallet is the security. Since Bitcoin transactions are done online, there’s a potential endanger your Bitcoins and other cryptos to be hacked by cybercriminals or hackers. No matter how safe the blockchain technology is, you should use a secure Bitcoin wallet. 

You’ll know that the Bitcoin wallet is safe when it has the following security features:

  • Authentication Notifications – Before you can fully access your Bitcoin wallet, an email or text message notifying you that a specific gadget is accessing your account should pop up. That way, you’ll alert the support team of unauthorized activity if it’s not your action.
  • User-Authentication – Alongside the authentication notification is the two-factor authentication. It means that you need to enter the One-Time Password sent to your email or phone after entering your password. That way, it’ll ensure that the one accessing the account is the real you.
  • KYC Identification – Another critical factor to ensure that the Bitcoin wallet you’re registering in is secure if it has a Know Your Customer (KYC) standards. In this method, you may need to present your national ID as well as your selfie ID. Some even use video calls to verify that the same person is in the ID card. This helps you ensure the contributors in the Bitcoin wallet are not a fraud.

2. Multiple Cryptocurrencies

You must also consider if the Bitcoin wallet allows you to store other cryptocurrencies. Although it’s basically for storing Bitcoins, your wallet should accommodate more than one cryptocurrency. 

Since you may want to trade Bitcoins and other cryptos when you want to fish on a large market, a multi-currency Bitcoin wallet is vital. Using a Bitcoin wallet that can store multi-currency, it’ll be much easier for you to trade and invest in different cryptos. Instead of opening different wallets for each crypto, it’s much better to use a single wallet for multiple cryptos.

3. Customer Service

Aside from the advanced features of each Bitcoin wallet, one must not sacrifice its customer service. No matter how well-developed the wallet, but if it fails in customer service, the overall rating would be affected. It’s because customers want immediate help and resolution to their issues each time.

And you wouldn’t want to encounter a problem only to face a not-so-good customer service. Not only will you feel frustrated, but you might even start distrusting the Bitcoin wallet provider. Especially if you have a significant number of Bitcoins stored in the wallet, it’ll be a hassle to change from one wallet to another. That’s why you need to check on their customer service, too.

It’s much better to use a bitcoin wallet with a 24/7 customer service option, to ask for help at any time of the day immediately. Then, their customer support should be able to navigate you into the right solution without any extra time. The Bitcoin wallet provider must also have customer support from various nations to accommodate the language barrier. 

Most importantly, the wallet provider should have various modes of contact, such as email address, contact number, Facebook, Skype, and others. That way, you can easily contact them on your preferred method of communication.

4. Company Reputation

Also, you should consider the company reputation of the Bitcoin wallet provider. All in all, they should be reliable and trustworthy. It’s because you’re entrusting your Bitcoin on them, and your transactions thereafter. 

You can find out if they’re reputable by searching them on the internet. If there are more bad reviews and news articles about them, you should think twice about it. Or you can search their company name on forums or ask the group members about their experiences with any Bitcoin wallet. You can even visit their social media accounts to check the ratings left by previous or current clients. 

Moreover, you must also find the following information on their website:

  • Data management practices
  • Private key Custody
  • Server, they use to store their data.
  • Team members of who are running the company

This information will help you in verifying if trusted individuals or frauds run the Bitcoin wallet.

Conclusion:

The above-mentioned things play an important role, as the Bitcoin wallet is where you’ll store your Bitcoins and other cryptos. You must consider the security features to determine whether your transactions will be safe. Then, you must also find if they offer the storage of multiple cryptos to maximize your market. Also, consider how they deal and take care of their clients. That way, you’ll get an idea of how you’ll be treated. 

Most importantly, knowing their company reputation is vital as it reflects how they’ve performed in the past years.

Source: https://cryptoverze.com/things-to-consider-when-choosing-a-bitcoin-wallet/

Blockchain

Binance to cease these crypto-derivative offerings in Australia

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Once upon a time, regulators around the world weren’t confident about handling the crypto-ecosystem. This attitude, however, has changed of late thanks to the industry’s growth and the interest it has seen from traditional institutions and major investors.

The aforementioned change isn’t universal, alas, with some crypto-entities still coming under a lot of regulatory fire. Binance is a case in point. The platform has come under increased scrutiny from a growing number of regulators worldwide, including regulatory authorities from the U.K, the U.S, the Netherlands, and Canada.

Australia too has now been added to this ignominious list.

According to an official announcement made by the exchange, Binance will no longer offer Futures and Options trading in Australia. It read,

“As Binance constantly evaluates its product and service offerings to comply with local regulations, we will cease offering the following products to existing Australian users: Futures, Options, Leveraged Tokens”

Moreover, it revealed that ‘existing Australian users will have 90 days to reduce and close their positions for these products.’ Post 23 December, users will no longer be able to manually reduce their positions, and all remaining open positions will cease.

What does this mean for Binance and its executives?

Well, the aforementioned step is in alignment with its executives’ aim – To create a sustainable ecosystem around blockchain technology and digital assets. In fact, according to one of its executives,

“Binance welcomes developments to our industry’s regulatory framework as they pose opportunities for the market players to have greater collaboration with the regulators. We are committed to working constructively in policy-making that seeks to benefit every user.”

This move followed last month’s restrictions on Options, margin products, and leveraged tokens (New accounts were barred from engaging in).

And the “nightmare” continues… 

Binance took a similar hit in a different part of the world less than two weeks ago. It discontinued support for trading pairs in the Singapore dollar (SGD), again due to regulatory crackdown(s).
Binance found itself in troubled waters earlier this year, with regulators around the world zeroing in on the top exchange. The regulatory pressure forced the leading crypto-company to adopt a proactive approach to compliance. That being said, the jury is still out on whether these steps have been making any difference?
Moreover, US authorities are probing possible insider trading and market manipulation allegations involving Binance. The exchange, for its part, has denied these speculations. Binance has a “zero-tolerance policy for insider trading,” a statement said.
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Source: https://ambcrypto.com/binance-to-cease-crypto-derivative-offerings-in-australia

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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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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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