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.
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.
Santiment Reveals Top 10 Ethereum Projects by Developer Activity
Despite record highs for network charges in February, development on some of the industry’s leading Ethereum based projects has continued unabated.
The research stated that development activity is an often-underrated indicator of project success. It demonstrates the ongoing commitment to creating a working product, continuously polishing and upgrading its features, and staying true to the long-term roadmap.
The research focused solely on pure ERC-20 projects that are currently committed to developing on Ethereum. It has used 30-day Github activity to track development status and action.
👇 (Cont’d) pic.twitter.com/ZGWkrgzHpH
— Santiment (@santimentfeed) March 3, 2021
The Ethereum Project Top Ten
At the top of the list for developer activity in February is the decentralized prediction market platform Gnosis. Despite a 28% slide in GNO token prices for the second half of the month, the Gnosis team has been busy working on the product.
Gnosis launched on the xDai Ethereum sidechain, joined the Open DeFi alliance, and launched a new collaborative grants initiative for Gnosis Safe Apps last month.
Status was the second most developed Ethereum based project with a number of updates for the open source mobile dApp browser and messenger. SNT prices hit a three-year high of $0.125 in February.
Virtual metaverse and NFT protocol Decentraland was third in the list of developer activity with a number of features introduced to improve user experiences.
DeFi synthetic asset protocol UMA came in fourth with two main focuses for the month; getting some major protocols out the door, and there was a collaboration with BadgerDAO.
Coming in at number five for developer action was Chainlink which announced the official mainnet launch of Off-Chain Reporting (OCR). This significantly improves the efficiency of how data is computed across Chainlink oracles, reducing operating costs by up to 90%, it added.
“The most immediate benefit to DeFi and its users will be a 10x increase in the amount of real-world data that can be made available to smart contract applications.”
These were the five most developed platforms in the Ethereum ecosystem for February 2021, and they were dominated by DeFi.
Also featuring in the top ten list was Skale Network, a decentralized modular cloud for running Ethereum-based dApps. MakerDAO, which is consistently in the top ten for development, was in seventh place.
Decentralized data exchange protocol Ocean, computing sharing economy Golem, and analytics platform Santiment itself rounded out the top ten.
NEXT Chain: New Generation Blockchain With Eyes on the DeFi Industry
The cryptocurrency industry is booming throughout the past year, and the increase in the total market capitalization is definitive proof.
The market is, at the time of this writing, valued at about $1.5 trillion. The same can be said about the DeFi industry. The total value locked in various protocols exceeds $39 billion, and the direction has been up only for quite some time.
However, this has also brought certain inefficiencies in different solutions, including Ethereum. Transaction fees on the network surge as it’s clogged by new participants. This is the reason we’ve seen plenty of alternative solutions being developed to tackle these issues.
NEXT chain is a new-generation blockchain that allows the tokenization of various assets, making them instantly tradeable at quick speeds and low fees.
What is NEXT Chain?
NEXT Chain is a blockchain that allows anyone to create and maintain their own digital assets in a manner that’s easy and rather similar to the ERC20 protocol standard running on Ethereum. All assets are tradeable directly as the team’s aim is to deliver transparent liquidity to existing and new projects.
The capabilities of the network include but are not limited to:
- Issuing digital fungible assets such as bonds, stocks, and other securities
- Creating non-fungible tokens (NFTs)
- Creating and managing sovereign and decentralized identities
- Design and run other types of arbitrary-complex smart contracts
It’s also worth noting that the blockchain is up and running since April 2019. It already has almost 200 master nodes, and, as the team reports, it doesn’t have a single failed transaction.
Additionally, the team aims to deliver the most profit for its community by taking advantage of different financial activities while also putting real-backed assets on-chain such as company stocks or commodities like gold, for example. It will also be connected to a fiat gateway, so there’s no middleman if the user decides to swap to EUR or USD, for instance.
The team has implemented a combination of Proof of Work and Proo of Stake consensus algorithms with master node validators acting as a Layer 2 technology. This allows the network to achieve high transactional throughput, typical of PoS networks, while also keeping the PoW principles to guarantee that miners calculate hashes with strong encryption.
Some of the advantages of these integrations include low transaction fees, high speeds, and scalability.
What Are the Benefits for Projects and Investors?
Teams are incentivized to build on NEXT Chain through a variety of different mechanisms, mainly through the capabilities of the blockchain itself.
They can create assets quickly and easily and also take advantage of crowdfunding opportunities. The transactions are quick, and the fees are comparatively lower. The team reports that the blockchain can handle up to 10,000 transactions per second (TPS) which is considerably more than Bitcoin or Ethereum’s chains.
On the other hand, investors can benefit from liquidity farming, staking rewards, master node rewards, mining, as well as from master node governance.
The NEXT Exchange
Another important part of NEXT’s ecosystem is the NEXT Exchange. It’s built on the proprietary blockchain, and it’s fueled by master nodes that allow it to reach a very high transactional throughput.
Each user retains full custody over their funds and gains access to their own private keys. It’s also worth noting that the team is building an alternative to Uniswap and PancakeSwap as the leading decentralized exchanges on Ethereum and Binance Smart Chain, respectively.
In addition to that, there are other initiatives that the project has in store, such as:
- New and updated desktop wallet
- Upgraded block explorer
- A mobile app
- Integrating smart contracts on NEXT chain
- Atomic swaps
Cardano, NEM, Sushiswap Price Analysis: 03 March
Even though the on-chain metrics for Cardano, NEM, and SUSHI pointed to a short-term pullback, the fate of the altcoins rested with the bullish cues from Bitcoin and Ethereum. If the technicals do hold up, the aforementioned coins would need to bypass a period of bearishness, before continuing their northbound movement.
Cardano maintained its position as the world’s third-largest cryptocurrency with a market cap of slightly under $40 billion. Interestingly, a jump of 23% over the last seven days also made Cardano the highest weekly gainer among the top-10 coins by market cap. At press time, ADA was trading just below record levels, while preserving its healthy uptrend on the daily charts.
The Parabolic SAR confirmed the bullish nature of the price as the dotted markers moved below the candlesticks. On the downside, a bearish divergence was spotted on the RSI after the index formed lower highs in the overbought region. With market leaders picking up the pace at the time of writing, bearish predictions for ADA could be offset by bullishness in the broader market.
NEM was another example of a cryptocurrency that registered healthy gains in a largely subdued crypto-market after the price jumped by over 40% in a week even as the market leaders moved sideways. The said hike was boosted by strong bullish momentum, with the same highlighted by the green bars on the Awesome Oscillator.
On the flip side, the Relative Strength Index noted a saturation of buyers in the market and highlighted a bearish pullback. The support level at $0.7 could be in focus in such a scenario. Nevertheless, expect NEM to continue its ascension on the charts post the correctional period.
SUSHI was trading in the red territory at press time as the price dropped by nearly 5%, compared to yesterday. Even though SUSHI picked up from the $17.24-support level on the 4-hour charts, low trading volumes and buying activity meant that a move towards record levels was unlikely over the coming sessions.
The MACD closed in on a bearish crossover as the green bars fell on its histogram. The CMF was optimistic in its outlook as the index rose above the half-way mark and highlighted the flow of capital. In fact, there was a chance that SUSHI could sustain itself above its press time support, even in a bearish scenario.
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