Category: Crypto and Coins

Wallet recommended by its users: Hardware Wallet.

If you are into the crypto market, you should know that you need a wallet for your coins before you start this business. Although it is a fact that there are many wallets online for this, today we will talk about another wallet. Hardware wallet, or cold wallet in colloquial language.

How to get Hardware Wallet?

Most hardware wallets (cold wallets) come similar to a USB stick. Apart from this, there are also crypto cold wallets that look like a phone to a credit card. You can buy these devices from reliable online shopping sites.

So why do we keep coins in Hardware wallets and not in online wallets?

First of all, your Crypto wallet is like your bank account that stores your private key and public address. Now, when we look at online wallets, it is true that the coin flow is very fast, but when we keep large amounts of coins in online wallets, the risk of cyber attack is very high. Since users are aware of this, they prefer hardware wallets to store their large amounts of coins. However, they also keep a small amount in their online wallets. In short, it is an undeniable fact that hardware wallet is a great boon for long-term investors, as it is much more secure than online wallets.

Questions Answered by the Blog:

• What distinguishes Hardware Wallet from other online wallets?
• Does Hardware Wallet (cold wallet) have any disadvantages?
• So why do we keep coins in Hardware wallets and not in online wallets?
• Why do we keep coins in Hardware wallets and not online wallets?
• How to get Hardware Wallet?

What is Altcoin?

Altcoins, known as alternative coins, are actually all coins other than Bitcoin. This is how other cryptocurrencies are qualified to be excluded from Bitcoin.

Namecoin was the first altcoin that emerged after the success of Bitcoin was talked about around the world.

Bitcoin’s use, purpose, has been an inspiration, a guide for all other altcoins. That’s why most altcoins tend to imitate Bitcoin.

However, with the diversification of investments with the expansion of the Crypto money ecosystem, it seems that the Altcoin exchange will become a little more independent from the Bitcoin exchange.

Why is it called Altcoin?

All coins except Bitcoin are called altcoins. Since Bitcoin is the first original cryptocurrency, it has been accepted as an alternative to other coins. Altcoin is a combination of the words “alt” and “coin”.

Certain Cryptocurrency Concepts for Beginners

Although we know certain things about crypto money, we may need to know certain concepts with crypto money as we get involved. Let’s examine these concepts together.

ADDRESS

The concept of address in digital currency is basically the destination where the user sends or receives the currency. You can think of it as a kind of IBAN address.

ALTCOIN

Other cryptocurrencies other than Bitcoin are alternatives to Bitcoin (altcoins). For example, Ethereum (ETH), Ripple (XRP), Chiliz (CHZ) are altcoins.

BLOCK

Many digital currencies make use of blocks that they have confirmed and then put together. Each block is added to the blockchain through mining.

FORK

It is the name given to the change made in the rules or protocols of the digital currency.

Questions Answered by the Blog:

• What is Altcoin?
• Why is it called Altcoin?
• Invest in Altcoin?
• How Did Altcoin Emerge?
• What Are Certain Cryptocurrency Concepts For Beginners?

Bitcoin Price History

1. When Bitcoin first came out, that is, in 2009, the value of Bitcoin was $0.000763924433.

2. Its highest value in 2010 was $0.49.

3. In 2011, it was progressing slowly but surely. The highest value was $35

4. In 2012, it experienced a decrease compared to the previous year. The highest value was $ 15.40.

5. In 2013, the highest value was $1,151.00.

6. When we entered 2014, the highest Bitcoin price was $934.21.

7. In 2015, Bitcoin price started to decline. The highest was $461.16.

8. In 2016, the price of Bitcoin was remembered as $ 967.48 for a while.

9. In 2017, there was a butterfly effect for Bitcoin. The highest value was $19,498.68.

10. There was no increase in 2018 compared to the previous year. The highest value was $17,319.19.

11. In 2019, the highest value was $12,686.39.

12. Bitcoin broke the record with $ 28,856.59, the highest value so far in 2020.

13. Its highest value in 2021 was $61,195.3.

14. Although at the times this article was written, 2022 is still not over, the highest value it has seen so far this year is $45,548.

What is the Purpose of Bitcoin?

Actually, the answer to this question is very simple. The mission of Bitcoin, which is currently used in certain things, is to be the currency of choice for all online payments. Moreover, its decentralization, without going through any financial institution, direct seller-buyer relationship, worldwide money transfers are much faster, making its current popularity and future bright. Also, having a public ledger, transparency of all transactions is the main source of trust between users and Bitcoin.

Can Bitcoin Be Used Maliciously?

It is very clear that Bitcoin will be a crime machine in the wrong hands. It is a very common currency to be used in money laundering, especially where the untraceability of money is known. But this can happen with most digital currencies. The illegal business, most commonly known as the Dark Net, where sales are made and the use of Bitcoin as the currency of these sales, “I wonder if it can be used in bad faith?” It gives us the answer to the question.

Questions Answered by the Blog:

• What is Bitcoin?
• Bitcoin’s History
• Bitcoin’s Price History
• Why Is Cryptocurrency Banned In The Chinese Government?
• What is the Purpose of Bitcoin?
• Can Bitcoin Be Used Maliciously?
• Who Founded Bitcoin?

What is USD Coin?

Developed by Circle Internet Financial, the USD coin (USDC) is a stable coin pegged to the US Dollar. 1 USDC is always equal to 1 US dollar. USDC is produced by The Centre Consortium. It was released in 2018. It operates on multiple chains, including Ethereum and Solana. The USDC tokens are issued via the ERC-20 smart contract.

What Does USD Coin Offer to Users?

Unlike the fluctuation in other crypto exchanges, USD coin offers an alternative to users in this era where the acceptance of payment with digital assets is widespread all over the world.

Questions Answered by the Blog:

• What is USD Coin?
• What Does USD Coin Offer to Users?
• Is There USD Coin Mining?
• Who Founded USD Coin?
• How Does USD Coin Work?

There are many points that an investor pays attention to when investing in a cryptocurrency. The white papers, the reliability of the project and the potential promised by the project are some of them. One of the most important features of a cryptocurrency is actually the blockchain network it is on.

Some cryptocurrencies use their own blockchain networks, while others use existing ones. Today, the most known network is the Bitcoin network, but we can say that the most used network has become the Ethereum network, especially with the popularization of NFTs. Let’s take a brief look at popular crypto networks.

Cardano Network

Cardano is an open-source blockchain platform powered by the widely used ADA cryptocurrency token to host globally decentralized systems and applications. The Cardano ecosystem was founded in 2015 by one of the founding members of Ethereum, Charles Hoskinson.

Unlike the Bitcoin (BTC) origin story, Cardano lacked an authoritative whitepaper to predetermine its position within crypto finance. Instead, Hoskinson envisioned building layers of a system to solve problems that exist in other crypto ecosystems.

Solana Network

Solana is a public, open source and decentralized blockchain platform. It is provided by the combination of proof of share and proof of past. The internal cryptocurrency is SOL. Bloomberg sees Solana as “a potential long-term competitor for Ethereum.” Like Ethereum, Solana can interact with smart contracts.

The Solana platform has become increasingly popular due to the perception that the blockchain will be relatively easy to use when run by a large number of computers, mining efficiency and scalability. The perceived scalability, in particular, leads many to think it would be an effective DeFi platform. Solana’s scaling ability, which can comfortably handle around 50,000 transactions per second, is also faster than its major competitors.

Questions answered by the blog:

• What is the most popular crypto network?
• Which is the most used crypto network?
• How many crypto networks are there?
• Why is the crypto network important?

Binance has become one of the first stops of people who want to buy crypto money. Building a platform with this many users and volume also requires good analysis and vision. You might think that a platform like Binance is a very old company, but its foundation only dates back to 2017.

With a market capitalization of $1.3 billion as of January 2018, the company surpassed competitors such as Coinbase to become the largest cryptocurrency exchange.

In 2018, Binance decided to open an office in Malta after stricter regulations on cryptocurrencies in Japan and China.

In 2019, the company announced Binance Jersey, an independent entity from the main Binance.com exchange, with the aim of growing its market in Europe. The new company offered cryptocurrency pairs for many currencies, including the Euro and the British Pound. Later, Binance decided to close this additional exchange.

In 2019, it formed a partnership with Israel-based company Simplex to facilitate transactions with credit and debit cards. With this partnership, card purchases made with a limited number of cryptocurrencies have become much easier.

By 2022, Binance, which has grown rapidly with its features such as being user-oriented, announced the registration of its legal entity in Italy and decided to open offices in the region to strengthen its presence in Europe. The company is currently on track to make crypto the most common payment method, launching registrations in many European countries including Switzerland, Sweden, Spain, the Netherlands, Portugal and Austria.

Attacks

In 2019, Binance announced that hackers stole 7,000 Bitcoins worth approximately $40 million USD and they were the victims of a large-scale security breach. CEO Changpeng Zhao said the hackers “used a lot of different techniques, such as phishing, viruses,” and “configured these processes to bypass our current security controls.” For this reason, Binance stopped withdrawals and deposits for a while, but allowed cryptocurrency trading to continue. After the event, the company promised to repay customers through a fund called the “Secure Asset Fund for Users (SAFU)”.

Questions Answered by the Blog:

• Who was Binance founded by?
• Who is Changpeng Zhao?
• Where was Binance founded?
• When was Binance founded?
• Which is the largest cryptocurrency company in the world?

One of the most popular investment tools of our time is cryptocurrencies. An internet connection and a computer or phone are all it takes to buy cryptocurrencies. So how can we buy cryptocurrencies using Binance, the world’s most common cryptocurrency exchange?

Opening and registering an account on Binance.com

First of all, you should go to Binance.com if you are using a computer, and download the Binance application if you are using a phone or tablet.

Then you need to register with Binance using your phone number or email address. In this step, you can easily register by entering the verification code sent to your phone and e-mail.

Cryptocurrency Purchase

After transferring your money to your Binance account, you can buy it by selecting a cryptocurrency from the Spot transactions section. You can make your investment.

If you want to make money without dealing with buying and selling crypto money, you can borrow your money in crypto currency in the section called Binance Earn and get the income from here. In this part, your profit and loss will be lower, but if you want higher profits, you have to lend your money for 3 months or longer.

You can perform leveraged transactions with futures transactions. In this section, you can perform high-profit and high-risk Long/Short transactions with up to 100x leverage.

Questions Answered by the Blog:

• How to Use Binance?
• What is the verification process?
• How do I make money on Binance?
• How do I transfer funds to Binance?
• What transactions can I do on Binance?

In order to invest in a cryptocurrency, you must first become a member of a cryptocurrency exchange. With its various investment methods, Binance Crypto Market stands out as the crypto money exchange with the largest transaction volume of today.

What is Binance?

Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies that are widely preferred today. As of January 2018, Binance has become the world’s largest cryptocurrency exchange in terms of trading volume.

Binance was founded by Changpeng Zhao, a software developer who formerly developed trading software.

Investment Opportunities on Binance Crypto Market

Although Binance is a crypto exchange, it provides most of today’s investment tools through cryptocurrencies.

• You can invest in cryptocurrencies directly by opening a spot transaction. This is equivalent to buying foreign currency today.
• You can make high-profit and high-risk investments by opening “Short or Long” transactions with cryptocurrencies.
• By buying crypto contracts, you can profit on the contract.

These and similar investment opportunities are available on the platform, offering diversity to investors.

Questions answered by the blog:

• What is Binance?
• When was Binance Crypto Market founded?
• Which is the largest cryptocurrency exchange in the world?
• Who is Changpeng Zhao?
• What transactions can I perform on Binance Crypto Market?

The term “block chain” is the fundamental system of cryptocurrencies. The structure similar to a notebook where everything is written also ensures the security of cryptocurrencies.

What is Blockchain?

Blockchain simply means the ledger. It ensures the security of transactions by keeping a record of transactions made in a crypto network. As the network expands and transactions increase, so does the blockchain.

Blockchains are also resistant to subsequent changes of records by not being kept in a central place, that is, the ledgers are distributed in a decentralized manner.

The History of Blockchain

Studies on blockchain date back to the 90s. The first study on this subject was carried out by Stuart Haber and W. Scott Stornetta in 1991. In 1992, Bayer, Haber and Stornetta incorporated cryptographic protocols called Merkle trees into blockchain designs.

The first working blockchain was conceptualized in 2008 by a person or group called Satoshi Nakamoto, also known as the creator of Bitcoin. Later, this blockchain design by Nakamoto was implemented as the core component of the crypto-currency Bitcoin of which he was the creator, providing functionality as the registry for all transactions on the Bitcoin network. With the use of the blockchain, Bitcoin became the first digital or cryptocurrency to solve the double-spending problem without requiring a central authority and inspired many new cryptocurrencies.

The Potential of Blockchain Technology

Blockchain technology offers great potential to transform business operating models in the long term, along with the information society and Industry 4.0. Blockchain distributed ledger technology provides the potential to create new foundations for virtually any global economic and social system. With the technological infrastructure it brings, it offers an alternative to traditional business models that focus on low-cost solutions. The use of blockchain promises to bring significant efficiency to supply chains, financial infrastructures and decentralized social networks.

Questions answered by the blog:

• What is Blockchain?
• What is the relationship of Cryptography and Blockchain?
• How did blockchain originate?
• Is blockchain technology used outside of cryptocurrencies?
• What is the potential of blockchain technology?

A cryptocurrency, or more commonly known as a coin, is a digital currency designed to be used as a medium of exchange through a computer network that is not tied to any central authority, such as a government or bank, to support or maintain it.

History of Cryptocurrency

Although the first crypto currency known to everyone was Bitcoin, the foundation of crypto and history of cryptocurrency began to be laid in the 80s. In 1983, American cryptographer David Chaum devised an anonymous cryptographic electronic money called “ecash”. This was the initial idea foundations of a digital currency.

Later, Chaum implemented it in 1995 through Digicash, an early form of cryptographic electronic payment systems. Digicash needed some extra software to pull notes from a bank and identify the encrypted keys before they were sent to a recipient. This encryption process made the digital currency untraceable by the bank, government or any third party. It was one of the first and simple steps for decentralized transfer.

Namecoin was founded in April 2011 as an attempt to create a decentralized DNS that would greatly circumvent internet censorship. Shortly after, in October 2011, Litecoin was released, which uses “scrypt” as its hash function instead of SHA-256. Another notable cryptocurrency, Peercoin, used a proof-of-work/proof-of-stake hybrid.

With the increasing number and slow popularity of crypto exchanges now established as a system, on 6 August 2014, the UK announced that the Treasury had launched a study on cryptocurrencies to explore what role they could play in the UK economy. The study was also to find out and report whether a regulation was necessary. The final report was published in 2018, and another revision on cryptoassets and stablecoins was published in January 2021.

The intervention of states on cryptocurrencies has also produced some good results for cryptocurrencies. El Salvador became the first country to legally adopt Bitcoin after the Legislature in June 2021 passed a bill introduced by President Nayib Bukele, classifying cryptocurrencies as legal currency, by a vote of 62-22.

After that, in August 2021, Cuba announced that the Cuban Central Bank would enable the recognition and regulation of cryptocurrencies such as Bitcoin and determine how crypto-related services are licensed.

With cryptocurrencies, good developments come with bad developments. In September 2021, in China, the largest market for cryptocurrencies, the state, which had previously increased pressure on middlemen and miners, declared all cryptocurrency transactions illegal.

Questions Answered by the Blog:

• When did cryptocurrencies appear?
• History of Cryptocurrency
• When did Bitcoin appear?
• Are cryptocurrencies legal?
• Who Invented Bitcoin?