The Best Monero Wallet of 2019

May 23, 2019
wallet

Keep your Monero Safe and Secret

Monero is a cryptocurrency system making use of cryptography to make sure that every transaction is untraceable. Originally named Bitmonero, this cryptocurrency is a fork of the Bytecoin blockchain created in 2014.

The best quality of Monero is the amount of control it gives you over your holdings and transactions. Being fungible, it has no pre-established size limit like Bitcoin. This means that large blocks from malicious miners will never clog the system.

Monero maintains privacy through stealth addresses, ring signatures, I2P routing, and ringCT. You can control your data much easier this way.

Let’s examine some of the factors you should consider when choosing, which one is best?

  • Private Keys: Are your keys stored locally on your device, or are they only accessible by the wallet provider?
  • Cost: What kind of fees are charged to conduct transactions? Are the costs equivalent to blockchain fees carried by other cryptocurrencies?
  • Security: Does that wallet have any security safeguards? Does it prevent fraud through the use of features like two-factor authentication?
  • Compatibility: What devices is this wallet available on? Can be it be used with iOS and Android?
  • Convenience: Is it easy to use? Is it simple to send and receive to engage the transaction process?

The Best Monero Wallets Available - Best Wallets Worldwide

Ledger Nano S

One of the most popular and versatile wallets available is the Ledger Nano S wallet. You can plug it into any device with a USB port and use it to store a wide range of currencies including Bitcoin, Litecoin, Stellar, Ripple, Ethereum, Ethereum Classic, and several other altcoins.

This wallet specializes in security, which makes one of the top choices for Monero. Not only does it use a PIN code, but it also uses 2-factor authentication and a recovery seed.

It has a built-in OLED screen, where you can check the transaction details with a double tap button. Rather than actually storing your currency, the Nano S tracks your XMR holdings on the blockchain.

With a built-in OLED screen, you can check transaction details before confirming payment. The Nano S doesn't store your currency, but it does save your keys and tracks your holdings on the blockchain.

How to use the Ledger Nano S

When you first install the wallet on your device, you'll be required to set a PIN. From that point on, every time you want to access your wallet, you'll need to connect the hardware wallet to your device.

If you make an error when entering your PIN, you’ll have to wait until the time-lock feature resets. Every time you enter the PIN incorrectly after that, the time-lock doubles in wait time.

That's why it's doubtful that if someone steals your hardware wallet, they'll be able to access your funds. As a safety feature, the backup passphrase you use when setting up the wallet can be used to move your digital assets to another wallet remotely.

With top-notch security features, the Ledger Nano S supports more than 700 currencies, including the vast majority of the major coins and ERC-20 tokens. For a full list of supported coins, click here.

The only drawbacks of using a Ledger Nano S to store your Monero is the price of the hardware wallet. If you only have a small amount of cryptocurrencies, the purchase might not be worth the investment at this time.

Monero GUI

As the official desktop client, the Monero GUI Wallet is available for Mac, Linux, and Windows. While the downloading and syncing might take some time with this full node wallet, it’s one of the best available on Windows. It is also available with an Ubuntu version if you’re one of the people that use that platform.

The wallet interface is simple enough for inexperienced traders to make use of without much difficulty.

MyMonero Wallet

One of the best online wallets available, MyMonero is convenient and easy to use. A core member of the Monero Core Team, Riccardo Spagni, manages the platform to provide secure hosted Monero accounts.

The wallet is relatively hassle-free, with an intuitive interface. You need to know how to create a Monero wallet, but that isn't too difficult. To keep your account secure, you use a 13-word private key that you are urged to save on paper in a safe place. 

If you prioritize simplicity and convenience, the MyMonero wallet is worth your investigation. MyMonero is accessible through web browsers such as Google Chrome or Firefox. After setting up your wallet, your private keys will be shown on the screen for you to write down. Just so you know, if you lose your keys, the MyMonero team will have no way to access your assets and compensate you.

Apart from the standard mining fee you're charged when sending digital funds, there are no extra fees when using the MyMonero wallet. And, keeping in line with the security features of the Monero blockchain, you are not required to provide personal details when using the service.

The only cryptocurrency the MyMonero wallet supports is XMR. If you need a wallet that supports other kinds of coins, you’re going to have to look elsewhere.

While MyMonero provides a straightforward and convenient way of using XMR, there are still risks when using an online wallet that isn't as dangerous as other options. 

Guarda Monero Wallet

One of the more lightweight and easy to use multi-currency wallets out of this list, Guard works on mobile and with a web version. It provides support for all of the major coins and altcoins.

This wallet is compatible with both iOS and Android devices, with safe and reliable characteristics.

Guarda doesn't store any wallet data, private keys, or client information. The private key is only stored on your device in the secure memory and self-deletes when you log out of the wallet. With this wallet, you can seamlessly shift your assets from one to another, without limits or complex verification procedures.

You can download the wallet for use on Mac, Windows, or Linux devices. Even while installing the application, there is no need for you to provide any personal information.

Guarda supports a range of different cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple, ZCash, and Dogecoin. There is also support for all ERC-20 tokens. Here is a list of all their supported coins.

Keep in mind that because Guarda does not store any private information, you use their wallet to store your coins at your own risk. They will not be available to assist you should you forget your password.

You will still be provided with a backup list of keywords when you create the wallet, so you’ll have to be careful to store the information in a safe place. 2FA and other kinds of security features are not available with this wallet.

Other noteworthy features included with the Guarda wallet is the integrated exchange platform, allowing you to exchange coins from within the wallet without much difficulty.

The wallet also has a fiat currency gateway, allowing you to purchase. This works in collaboration with Coinfy, a platform accepting both Visa and MasterCard.

As Guard is available as a web wallet, you can easily synchronize different devices depending on which you’re using at the time.

If you're not confident whether or Guarda is the best choice for your purposes, there are some other desktop Monero wallets included in this list worthy of your consideration.

Monerujo Monero

This lightweight Android Monero wallet uses remote nodes to synchronize holdings with the blockchain. Monerujo is an open-source wallet, which keeps all of your private data secure on your device.

The app interface is easy to get used to, allowing you to manage multiple wallets, share QR codes for receiving XMR payments, and other expected features. This is probably the best wallet you can get for Android.

Paper Wallet

As you might have expected, a Monero paper wallet contains two keys, two QR codes, with one system to help provide a public address and the other, a private key. 

Paper wallets are best for your purposes if security is a high priority. There are no risks of getting hacked or having your assets stolen when using one.

You can go here if you want to create an offline Monero paper wallet.

Edge Monero Wallet

If you're looking for a healthy choice for a mobile Monero wallet, many say that this is the best. Edge allows users to send, receive, and store multiple coins for doing business on the go. Edge supports Bitcoin, Etheruem, Monero, Bitcoin Cash, and ERC-20 tokens.

One of the greatest strengths of the Edge is its intuitive user interface. The design makes it very simple to send and receive funds, to check your wallet balance, even for newbies.

Edge offers safeguards to protect your funds. Not only do you have access to two-factor authentication (2FA), but your private keys are stored locally on your device. One drawback, however, is that the Edge team will have no way to help you if you mess up your security or forget your details.

Edge makes it possible to buy and sell a wide range of cryptocurrencies without having to send your money to another wallet. As Edge has partnered with Kraken-owned Glidera, it comes with a 1% transaction fee while using the service.

What is the best wallet for Monero?

It depends on which kind of device you plan to use to store the currency. If you want to use a desktop or an online wallet, My Monero might be the best for you. If you're going to use a hardware wallet, the Ledger Nano S might be the best choice. If you want to use iOS or Android, Edge wallet might be ideal. 

How do I add money to my Monero wallet?

After establishing your wallet, you will get an address with which you can transfer the wallet into your possession. You can either buy the currency off of a trading platform or use a service to exchange Monero with a different coin.

What is Monero used for?

Monero was built to be resistant to application specific integrated circuit mining or (ASIC), which is commonly used to mine other cryptocurrencies.

How do I invest in Monero? 

  • First, you need a wallet
  • Get your wallet address
  • Sign up on a Trading platform like Kraken
  • Deposit money and buy XMR
  • Withdraw the coins into your wallet

Can you buy it with USD?

Changelly provides a way to purchase any digital currency you like with USD. While you need a credit card to do this, you can also buy Monero with Bitcoin by using a cryptocurrency trading platform like Kraken or Bittrex.

Is Monero Decentralized?

Yes, it absolutely is. It is a digital cash operated by a network of users, where transactions are confirmed through consensus, then recorded to the blockchain. No third-parties are required to transact and keep your digital assets safe.

For more wallet recommendations, check below:


Who Accepts Bitcoin as Payment? List of Companies

April 26, 2019
who accepts bitcoin

As the largest and most well-known digital currency, Bitcoin is taking over the crypto-currency marketplace. As adoption increases, we've seen many large organizations accept bitcoin as a source of payment.

Now that this currency is becoming more and more valuable, it is a mistake for organizations to ignore the viability of Bitcoin for the transfer and to earn wealth. Though the price may fluctuate, this fluctuation can also serve as a hedge against inflation. So, which companies accept Bitcoins?

Companies who accept Bitcoin:

Many companies are accepting Bitcoins; many are not. Here is a list of the biggest (and smaller) names who have embraced bitcoins as a currency.

general merchandise

General Merchandise

  • Alza – Largest Czech online retailer
  • BitPlaza – A website and mobile app that allows you to buy dozens of name brand products with Bitcoin.
  • CEX – It’s a shop in Glasgow, Scotland that uses bitcoin.
  • ShopJoy – An online retailer based in Australia that sells unique and novelty gifts.
  • MIT Coop Store – Student Bookstore at Massachusetts Institute of Technology.
  • SimplePay – The most popular web and mobile-based wallet service in Nigeria
  • SFU bookstore – Student Bookstore Simon Fraser University
  • Famsa – The biggest retailer in Mexico.
  • Overstock.com – Run by crypto-enthusiast Patrick Byrne (Owner of Medici Ventures), this is one of the biggest online retailers.
  • Fancy.com – This site sells household goods and fashionable merchandise with a feminine focus. Everything from high heels to couches.
  • Virgin Galactic – Richard Branson’s company includes Virgin Mobile and Virgin Airlines.
  • Etsy Vendors – Some of the individual sellers on the site accept Bitcoin.
  • Fancy.com – Discover new things, collect all the things you love, all in one place.
  • i-Pmart (ipmart.com.my) – An online mobile phone and electronic parts retailer based in Malaysia.
computer services

Computer Related

  • Microsoft – If you have a Microsoft account, you can go to “Billing and Payment Options” in their account and click “Redeem Bitcoin.” You will be allowed to add up to $100 at a time via BitPay.
  • Newegg.com sells virtually everything related to computers and electronics. If you want to buy a new gaming computer a PlayStation 4, a sound system, a good laptop, or a television, Newegg will let you do it. They accept both Bitcoin or Bitcoin Cash.
  • Intuit – This company develops financial and tax preparation software for small businesses, individuals, and accountants.
  • Storm Computers - Based in Western Australia, provides computers, accessories, components and other related products and services. Accepts Bitcoin and Bitcoin Cash.
online services

Web Services

  • Namecheap.com – This is domain registrar with full-service hosting options, all of which you can pay for with Bitcoin. After you “top-up” your account with Bitcoin, you can choose which services you want to pay for with Bitcoin.
  • 37 Solutions.com - Located in Pittsburgh, this company provides multiple web-based services including cloud hosting, available for payment with BTC. 
  • Protonmail and Tutanota are privacy-focused e-mail services that accept Bitcoin for their premium tier products.
  • Shopify – This company doesn’t allow shop owners to pay professional fees with Bitcoin, but they can accept Bitcoin and other cryptocurrencies with relative ease from customers.
  • LightSpeed Hosting – Like Linode or Digital Ocean, this hosting company uses Bitcoin, Bitcoin Cash, and other cryptocurrencies with VPS and hosting services.
  • OkCupid – A online dating site.
  • Wikipedia
  • The Internet Archive: A non-profit digital library with free universal access to books.
  • The Pirate Bay – Directories for BitTorrents.
  • 4Chan.org – An image board.
  • EZTV – Television shows provider.
  • Mega.co.nz – Free cloud base file server with premium services you can purchase with Bitcoin.
  • Lumfile – A cloud-based file service.
  • Seoclerks.com – Provide inexpensive SEO services.
  • Mint.com – Mint is a platform that pulls all your financial information into one place. Set a budget, track your goals and more.
  • Bloomberg.com – An online newspaper
  • Suntimes.com – Online publication based in Chicago.
  • Crowdtilt.com – A way to pool funds with friends and family, fast and effective.
  • Lumfile – Server company that offers free cloud-based servers
  • Fight for the Future – Leading organization finding for Internet freedom
  • PSP Mollie – Dutch Payment Service
  • Lv.net – Las Vegas high-speed internet services
  • Grooveshark – Online music streaming service based in the United States
  • Braintree – Well known payments processor
  • SimplePay – Nigeria’s most popular web and mobile-based wallet service
  • Shopify.com – An online store that allows anyone to sell their products
  • Naughty America – Adult entertainment provider
  • MovieTickets.com – Online movie ticket exchange/retailer
  • Dream Lover – Online relationship service
  • Rakutan – A Japanese e-commerce giant
  • Badoo – Online dating network
  • Stripe – Payments company based in San Francisco
  • WebJet – Online travel agency

Digital Games

  • Humblebundle.com – a Game site selling game codes for charity.
  • BigFishGames.com – Games for Smartphones (iPhone, Android, Windows), PC and Mac.
  • Zynga – A Mobile gaming company.
  • Green Man Gaming – Popular digital game reseller
vpn services

VPN Services

  • ExpressVPN – One of many reliable VPN services that accept Bitcoin payments.
  • PureVPN – Another virtual private networking (VPN) service that currently take Bitcoin. They even have a guide on how to acquire coins to use with their service.
  • Several other VPNs including SurfShark, Private Internet Access, CyberGhost, NordVPN, and HideMyAss, also accept Bitcoin.
travel services

Travel Services

  • CheapAir.com – Allows you to book hotels, flights, and rental cars with Bitcoin. They like Bitcoin so much they never stop talking about it on their blog. Expedia used to have such a service, but they removed it months after introduction. CheapAir.com has always accepted it.
  • Bitcoin. Travel This company acts as a gateway to travel sites that will allow you to check out with Bitcoin. Potentially the easiest way to book a flight with digital cash.
  • A Class Limousine – Will pick you up and drop you off at Newark (N.J.) Airport.
  • One Shot Hotels – Hotel Chain in Spain.

Food and Drink

Most of the food you can buy are with gift cards pre-purchased with Bitcoin online. There are a limited number of restaurants in major metros around the world that accept Bitcoin. However, there are large outfits that are slowly adopting, so this is the best course of action when wanting to spend coins on food.

  • PizzaForCoins.com You to order pizza pretty much anywhere with this service, and you don’t have to use Bitcoin. You can use other altcoins such as Litecoin, Ethereum, or Monero with their integrated ShapeShift conversion tool.
  • Ordertakeaways.co.uk A British website that allows you to order from dozens of takeout restaurants in the UK using Bitcoin.
  • CryptoCoffee, a crypto-accepting coffee distributor in Europe.
  • Pex Peppers sells hot sauce for various cryptocurrencies.
  • Misconduct Wine Company, offers wine, though shipping restrictions may apply.
  • KFC Canada - They are one of the newest additions to the food companies that are accepting Bitcoin. Whether this is just temporary or a permanent staple isn’t definite yet.
  • Bitcoin Carnivory: Why order anything else when you can buy steaks with Bitcoin? This is all you need to survive in the cryptocurrency jungle.
  • Bees Bros have a great selection of honey, lip balm, and soap.
  • Curryupnow.com – 12 restaurants in the San Francisco Bay Area that accept Bitcoin
  • Pembury Tavern – A pub in London, England
  • Old Fitzroy – A pub located in Sydney, Australia
  • The Pink Cow – A diner located in Tokyo, Japan
  • Whole Foods – Organic food store (by purchasing a gift card from Gyft)
  • Bitcoincoffee.com – Buy your favorite coffee with Bitcoin
  • Helen’s Pizza – You can get a slice of pizza for 0.00339 bitcoin by scanning a QR code next to a cash register in New Jersey
  • Coupa Café in Palo Alto
  • Foodler – A restaurant delivery company in North America

Specialty

  • Grass Hill Alpacas – A local farm located in Haydenville, MA.
  • San Jose Earthquakes –Professional Soccer Team in San Jose, California (MLS).
  • Museum of the Coastal Bend – Located in Victoria, Texas.
  • Dish Network – A Direct-broadcast satellite service provider in the US.
  • Yacht-base.com – Yacht charter company located in Croatia.
  • The Libertarian Party – A political party in the United States.
  • Euro Pacific – A precious metal dealer.
  • Straub Auto Repairs – A car repair shop in New York
  • State Republican Party – First State Republican Party to accept bitcoin donations (http://www.lagop.com/bitcoin-donate)
  • mspinc.com – Store offering respiratory medical equipment.
  • Mexico’s Universidad de las Américas Puebla – A major university in Mexico.
  • Lionsgate Films – The production studio behind titles such as The Day After Tomorrow and The Hunger Games.
  • RE/MAX London – A global real estate network based in the UK.
  • Save the Children – A global charity organization.
  • NCR Silver – Systems for point of sales.
  • That’s my face – Action figure creation.
  • Amagi Metals – Precious metals furnisher.
  • Legal Services - The Rodman Law Group specializes in Business, Blockchain, Cannabis, Hemp, Securities, and IP Law. 

Pet Supplies

  • Cryptopet offers a large assortment of pet food and supplies.
ways to spend bitcoin

Other Ways to Spend Bitcoin

A are a few indirect methods of spending Bitcoin on platforms that don’t support it. You can get a Bitcoin credit card from providers such as Bitpay, Uquid, or Xapo. There are many companies in this field that have attempted these kinds of businesses, but these three mentioned businesses seem to be stable so far.

There are many considerations when getting a Bitcoin-based credit card, such as the level of commitment from the company in question. There are also regional and legal restrictions that come into play.

Because of these kinds of problems, gifts cards are another viable option. Many sites don't accept Bitcoin directly, but you should be able to use one of these kinds of cards on those platforms.

Bitcoin Gift Cards

Some possible retailers where you might use these cards include Target, Walmart, and food establishments like Burger King, Legal Seafood, and Dominos.

If you want to pay your bills with Bitcoin, BitRefill is a possible option. US users can use CoinBills or BillPayforCoins. Australian users can use Living Room of Satoshi or PaidByCoins, while in the EU there is a company called BitBill.

Another exciting option is to use Purse.io to spend Bitcoin on items you'd like to get at Amazon. They can provide a discount of up to 33% off on regular prices. First, you find something you want to buy on Amazon. You post a link on Purse.io with the discount that you want, and then someone buys it for you and has it sent to your house. You pay the buyer with Bitcoin.

The rates on Bitcoin are different on Purse.io than you find anywhere else. Purse.io takes advantage of Amazon’s Prime shopping, but they haven’t expanded yet to other online retailers.

With many companies on the verge of adoption, Bitcoin is growing very fast. Even small businesses are starting to adopt. QR codes make buying items with software much more natural and reasonable than before. All you have to do is scan and enter the amount you wish to spend, then show the transaction to the store owner after it is posted. As more companies adopt, they will be added to the list above.

Do you know any business that accepts bitcoins as payment not listed on this list? Please leave a comment below!

questions

Bitcoin Questions - Accepting Bitcoin

Can Bitcoin be converted to cash?

There are multiple ways to convert Bitcoin to cash. You can either sell it on an exchange like Kraken or Coinbase, or sell it to an individual. The easiest way is to sell your Bitcoin on platforms like Coinbase and deposit the funds directly into your bank account.

Can I pay with Bitcoins on Amazon?

Not exactly. Many major online retailers still have yet to adopt, but using a system like Purse.io, you can exchange Bitcoin with someone that will buy items you want for you.

Does Microsoft still accept Bitcoin?

Yes, you can use Bitcoin to deposit funds into your Microsoft account. You can then use the funds to purchase apps, movies, and games in the Windows and Xbox stores. However, you can’t use the money in the Microsoft online store. Also keep in mind that any funds you add with Bitcoin is non-refundable, as the currency price is unstable.

Let's Hope More Companies Embrace Bitcoin

accepts bitcoin

Electrum Wallet Review for 2019

March 19, 2019
electrum wallet review

Store Bitcoin on your Desktop

This is one of the oldest established Bitcoin software wallets. Created by Thomas Voegtlin in 2011, it has been developed and improved by numerous contributors as the code is open source. This wallet is client based and works as a piece of software you can download and run on your desktop computer. It is not available for mobile or other platforms at the moment. You can acquire it here.

What is Electrum?

This is a bitcoin wallet for desktop that can be used with Linux, Mac, and Windows. Developed by a German computer scientist, this software was built to be efficient and lightweight.

Because the open source nature of the software, many developers have come together to contribute to the wallets development, making it one of the most trusted decentralized projects.

One core feature of the Electrum is its integration with major hardware wallets. Hardware wallets like the Ledger Nano, Keepkey, and Trezor. This means you can use your hardware wallets as an extra layer of security on your desktop in conjunction with Electrum.

Compatibility

Electrum can be used with Linux, Mac, and Windows. As of 2016, it can also be used with Android.

This software has the following enticing features:

  • Seed recovery phrases for if you lose access to your wallet
  • Option for Multi-signature wallet 
  • In-wallet encryption
  • Two-factor authentication option
  • Hardware wallet integration

The Bitcoin network doesn't limit this wallets functionality.

When you use Electrum, your private keys are kept on your computer and not shared with the wallet’s servers.

Because the wallet servers don’t store any user information, you can export your private keys and migrate between servers at will.

Another security precaution included is that Electrum doesn’t download any scripts when helping you access your funds, so hackers are not able to attack you in this way.

Decentralization protects the software from point of failure and being open source, anyone can run a client.

Electrum is fast. Because the client doesn't download the blockchain, it is always up to date with no delays.

Because your private keys never leave your computer to be transmitted over the internet, this wallet is safe. You don't have to trust the server with your assets. The server doesn't retain private information, and it doesn't need to know anything about you.

You can recover your account with secret phrases. You can also keep your private keys offline as a kind of cold wallet.

Many Redditors feel that Electrum is one of the best desktop wallets you can use on a desktop computer. You can find more than a few examples of times it has been recommended on cryptocurrency subreddits.

Now that I've covered some of the software's most impressive features let's discuss how it works.

User Interface and Set Up

With installation flexibility, Electrum has easy installation features that make it a breeze, even for someone that isn't technical. However, if you're a programmer or planning to develop with Electrum, you can also use a Python source installation to get up and running.

All you have to do is run the wizard to create a new wallet. You have a few options. You can import an existing wallet, and you can create a multi-signature wallet, a two-factor authentication wallet, or just your standard bitcoin wallet. One of the more secure options is the multi-sig or two-factor option. That should keep your assets safe from hackers trying to break in.

Fees for Bitcoin

There are fees Electrum charges for sending Bitcoin to other addresses. There is a flat rate of 0.2 mBTC. In some cases, you can reduce the fee to 0.1 mBTC.

The transaction fee is included in the sum of the amount you want to send. The Electrum platform will issue a warning if the total transaction amount exceeds your wallet balance.

Whenever you send coin to another address, the transaction fee is included in the sum you want to send. If your total transaction exceeds the amount of your wallet balance, the Electrum app will show you a warning.

*Note: mBTC means one-thousandth of a bitcoin or millibitcoin

Security

Electrum has some robust security features. With the ability to create multi-sig wallets, or two-factor authentication wallets, you have extra layers of protection from hackers. These features exist to complement the preexisting decentralized approach to Electrum's functionality. Multi-sig and Two-factor help keep your data secure, along with the fact that your keys are stored locally.

This means that from the very beginning, you have control of your money, and no one can interfere or take it from you. Overall these features comprise a relatively airtight security system for your funds.

A long time ago, Electrum used to have a vulnerability that might allow hackers to steal funds through compromised websites. So if you logged into your wallet while the website was open in your browser, they could log your password. This vulnerability has already been patched, so there’s no reason to worry it them now.

So far, this has been the only major vulnerability Electrum has had to worry about, so in comparison to other wallets or security systems, it's doing pretty well. As long you are using an updated version of Electrum, you should be well off. It's worth noting that you have to manually update the client, as it doesn't do so on its own.

Which currencies can I store?

Electrum stores only Bitcoin, but there is a litecoin version that can be found here.

How do I make Bitcoin payments with Electrum?

Click the “Send” Tab, then in the “Pay To” field, paste the bitcoin address you want to send coin to from the clipboard.

After you enter your password, the funds will be released, and your transaction will start processing.

You can also receive payments with electrum. Open the “Receive” tab, and your address can be provided to whoever wants to send you coin. Anyone who has your address can send coin to your wallet.

How secure is Electrum?

Because of the encryption techniques used to secure your private keys, Electrum is considered one of the more secure bitcoin wallets out there.

The random phrases Electrum uses to generate your private keys increases the security of your seed. The Electrum seed has an equivalent level of security with a Bitcoin private key.

You don’t want to lose your seed. It’s the only way you can recover your assets, should you lose access to your computer. The password you use when you create the Electrum wallet will also be required when you make payments.

Where can I get Electrum?

You can download the electrum wallet at electrum.org, the official website of the platform. You can use Keepkey, Trezor, and Ledger hardware wallets with the application to store your Bitcoin.

Many people say that Electrum is still one of the best compromises between convenience and privacy and security. It is high in functionality and shouldn’t cause you many problems to use.

PROS

  • Good privacy features
  • Easy and fast to set up
  • Integrates with hardware wallets

CONS

  • Supports only bitcoin
  • Not the best choice for beginners

Homescreen

When you first land on Electrum’s home screen, you’ll find that it’s more welcoming than it used to with featured images and even articles.

Homescreen

After clicking "download," you can choose whether you want the "easy installation" or more advanced methods, including python and developer installations. It's pretty easy to see where to go if you're going to be using the software to store your Bitcoin.

The install process isn't complicated; just follow the wizard. It will also ask you which installation method during the wizard prompts. Getting everything installed and set up takes less than one minute.

Electrum Setup Screen

Simple and to the point 

When you finally get into the client, you’ll find it’s pretty straight-forward. You have different tabs at the top allowing you to choose between receiving and sending Bitcoin and other wallet options.

Electrum wallet Send Screen

On the bottom of the client, you can find the system settings, where you can change your password, and check your network connectivity. They also offer a “lite” mode where you can send Bitcoin to other wallets.

The wallet mainly focuses on functionality as opposed to the user experience. Meaning that if you don't already know anything about Bitcoin, this wallet might not come as extremely comforting. However, I don't think that Electrum is challenging to get used to.

Electrum provides extensive documentation about the wallet and has an active BitcoinTalk section where you can ask questions and get answers.

Community Sentiment

In general, the cryptocurrency community holds Electrum in high regard. It's one of the most popular ways to secure your Bitcoin on your desktop. It's a favorite among veteran enthusiasts as well as the more technically inclines. More than a few cryptocurrency websites consider it to be one of the best options for software as well.

In spite of its failures, Electrum seems to have secured itself a position of trust in the community. It’s primarily because of the team’s continued commitment to improvement. They do their best to improve security and user controls.

Support

Having trouble getting your wallet set up? There are more than enough resources where you can find answers to any of the questions you might have about Electrum. You can either go to the Bitcointalk forum or the Subreddit for answers. There’s also a support page you can visit with several different articles and resources.

Conclusion

So, in summary, Electrum is a secure, fast, and stable wallet, though it might not be the best choice for beginners. The software has been improved a great deal since it was first released and has earned the trust of the Reddit community. If you know enough about Bitcoin to operate the wallet appropriately, you should be fine to use this wallet.

Out of many different  clients that are available out there, the Electrum wallet is one of the most developed. It has nearly 9,000 comments on Github, the developer community, and third-party plug-in support. The open-source nature has made it into a sandbox for add-ons and development. The flexibility and developer following has added a way for the eventual inclusion of popular altcoins.

As one of the older clients, Electrum has a great combination of security features. The software's developers are committed to continuing to improve the software, which adds some confidence when downloading and putting the wallet to good use. It may not look pretty, but it is functional.

Questions Asked and Replies

What is the best and safest Bitcoin wallet?

Electrum is one of the highest rated, but check my guide on the most secure wallets for more details.

Is Electrum a good wallet?

Many people say that Electrum is still one of the best compromises between convenience and privacy and security. It is high in functionality and shouldn’t cause you many problems to use.

Does Electrum Support Ripple?

No, Electrum only provides support for Bitcoin. 

Can Electrum hold Ethereum?

No, only Bitcoin.

The Best Cryptocurrency Wallets of 2019

February 19, 2019
best wallets

The Best Cryptocurrency Wallets

Cryptocurrency is becoming more and more mainstream in popular consciousness. Whether you’re someone who bought a few bitcoins during the boom in 2017, or if you’re a more seasoned digital currency trader, the same concerns apply. If you’re going to deal in digital currency, you’re going to need a way to keep it safe and secure.

If you want to purchase digital assets, you’ll need access to an exchange, either an organized corporate platform like Coinbase or one of the more automatic exchanges like Shapeshift, which enables users to exchange one digital currency for another with a fee.

With an exchange, you can purchase and trade your desired currency. However, if you're looking to store your currency or spend it on goods and services, you'll need a wallet.

The continually shifting currency landscape can make the proper choice a challenge. In this article, I will evaluate all of your options when it comes to protecting your valuable assets.

What are they?

There are many different wallets, including software, hardware, and paper. Each can store different kinds of currency, manage the cryptographic keys and the security features for transactions, storage, and in some cases, identity information.

The most critical security element is the cryptographic key associated with it. The private key appears as a series of machine-generated numbers and letters. This is what you use to lock or unlock access to your stored cryptocurrencies and generate wallet addresses.

Whoever controls the keys controls access to your assets. This is why it can be a risk to store your digital assets on online platforms. This is an important consideration when deciding on a cryptocurrency wallet platform.

Do I need a crypto wallet?

If you own any cryptocurrency at all, it is being held in a wallet. You can’t have one without the other. However if it is on an online platform and you don’t own the keys, you only have access to the assets. You don’t "own them" until you manage them on your own. So if freedom and control is important to you, then you need your own wallet.

Five Types

There are five different types in this long list:

1. Cold Wallets

ledger

This is how you store currency offline. Cold wallets have keys from a cold source, meaning not connected to the internet. This adds a layer of security, what you might call an “air gap.”

These kinds of offline sources are available in hardware format as a USB flash drive. You could keep it stored in a safety security box with no way for online hackers to access your assets.

2. Hot Wallets

As you might have guessed, hot wallets have keys generated by internet-connected platforms like Coinbase. The keys are typically stored in the server of the online platform or the back-end exchange.

Though hot types may not be as secure as cold wallets, there among the most popular cryptocurrency hot wallets in use. This is because most people prefer to have their digital currencies available for trading, making purchases, or accessing foreign goods or services.

3. Decentralized Wallets

This means that you have no centralized back end you would need to engage with to buy, sell, or trade. When you control your private key, you can connect and generate a transaction, anywhere, with anyone, at any time. One thing you have to keep in mind is that when you control your key, it’s your responsibility to keep yourself secure or run the risk of losing your money.

4. Hosted 

These are the opposite of the decentralized types, where the platform stores and controls your keys. Some feel these platforms have a higher degree of specialized security that normal consumers would previously. That may or may not be true, one thing that can’t be denied is that they are also storing the keys of thousands of users.

This means that hackers are more likely to target them for an attack than you as an individual. This also means that you need to need to log in online as opposed to just directly connecting with whomever you want to conduct a transaction with. Hosted typesoften require identification registration which means your privacy can be compromised.

5. Paper

paper wallet

It might come as a surprise to some, but when they call it a "paper wallet," that's precisely what they mean. It is a sheet of paper where your public and private crypto keys are printed, often in the form of QR codes.

To use these kinds of wallets, all you have to do is transfer currency to the public address shown on the sheet of paper.

The reason QR codes are ideal is that it takes too long to type out the string of letters and numbers of an address. However, these should be used as piggy banks, in that you don't want to send only a small portion of the total money to another user.

You can only make a single withdrawal of the full balance from a paper wallet. Why? After you broadcast a transaction, it becomes insecure and should be discarded.

A Word on Exchanges

Cryptocurrency moves fast, in both a financial and technical sense. Blockchain tech is continually being improved upon with new iterations, while the rules surrounding the technology are also being continuously revised. Cryptocurrency is much like the Wild West, and in that way, much riskier than tried and true assets for individual investors. 

Currencies like Bitcoin remain one of the few assets that individuals can attempt to manipulate in terms of price and not end up in prison. However, maybe this will change in the future.

When deciding on which kind of exchange you want to use, you have to consider what kind of an investor you want to be. There are generally two different kinds of trading sites for cryptocurrencies.

If you’re looking for a more regulated, stable kind of environment, you can choose an exchange like Coinbase. They have made a lot of effort to navigate the uncertain regulatory landscape of cryptocurrencies, making the platform more future-proof.

Using Coinbase

This company has done whatever is necessary to remain in compliance with US banking laws. This means that they have to collect data on the people that do business on their platform and have scans of personal documents like state IDs and Passports. They even require your Social Security Number. Some people might feel that providing these kinds of details is too intrusive.

One of the drawbacks of some of the more controlled exchanges is that they tend to have fewer options in terms of which cryptocurrencies you can buy or trade.

When new coins hit the market, it can take time for financial regulators to evaluate them. Regulated trading platforms will have to make a dedicated effort only to support approved cryptocurrencies.

For Freedom

Some investors feel that these kinds of regulations are too cumbersome and they interfere with the free-wheeling, independent spirit that modern digital currencies are known for. They want to buy some of the newest currencies as soon as they become available. These kinds of regulated platforms can also interfere with the anonymous nature of crypto.

With the current volatility of the cryptocurrency market, it’s possible that you might see your holdings surge in value at any time. When it does, you can expect that hackers will start to take an interest in opportunities to scam people. You don't want to end up getting your assets stolen off of an online platform like the holders who were ripped off during the Mt. Gox incident.

The question of why you should purchase a wallet becomes the more pertinent question of which kind should a cryptocurrency investor use. As do all forms of insurance, security comes at the cost of money and convenience. How should we balance it in a way that suits our risk profile?

The question of what is the optimal way to store your digital currency is becoming more and more pertinent. As with all forms of security, they often come with a cost of money or convenience. In this article, we will try to guide you on how you can balance your storage with a way that suits your risk profile. There are six desired traits you should consider.

Desired Features 

What are the desired traits of a crypto wallet and how hard can choose a wallet to be? This seemingly easy answer, unfortunately, does not have a satisfying answer: convenience may come at the cost of security; additional features may come at the cost of a steeper learning curve.

More importantly, what are the traits that, ultimately, you value over the others? See the list below, not in order of importance:

When deciding on a crypto wallet which features are the most important? There is no easy answer to that question, as it will depend on what you're looking for. Convenience comes at the cost of security, while advanced features make require dedicated study to use appropriately. Here are some examples:

1. Cost 

How much does it cost?

2. Security

How does it prevent attackers from access?

3. Mobility

Do you need to hold onto hardware to use the wallet? What will happen if you lose the item? What will happen when it falls into someone else’s hands?

4. Ease of Use

Is the wallet challenging to navigate and use? Does it support all the currencies you have in mind?

5. Convenience

Are you able to log in quickly and close a transaction when you need to? Will you be stuck holding the bag when the price begins to plummet?

You’re likely going to want a wallet with the optimal combination of the traits mentioned above. Keep in mind that all wallets have their pros and cons.


Bitcoin has become the bread and butter of cryptocurrency trading. It offers a censorship-free alternative to government-backed securities. Digital currencies like Bitcoin are also more accessible, safer, and more private than sending money over platforms like Paypal. Because the price of Bitcoin has more or less stabilized in recent years, people have started to consider it as a currency again.

However, before you decide to exchange your dollars for Bitcoin, it's important to know what the risks are. Bitcoin could potentially double in the next few years. The price could also drop to near zero.

It is recommended that you only purchase what you can afford to lose. If you understand these risks, and you're comfortable moving forward, and of the wallets in this article should be suitable for you.

The most crucial feature you should consider when evaluating wallet options is whether or not it supports the currency you’re interested in. While Bitcoin tends to be standard, not all wallets will carry the altcoins you might be interested in. There are dozens of different options, new ones popping up every week.

If you want to use a specific currency, for example, Ripple, you'll want to make to make sure that your cryptocurrency wallet supports it. If you want to add multiple different coins to your portfolio, then you should focus on wallets such as Exodus or Jaxx. Both of these platforms support multiple currencies and even show you what percentage of your money is in each asset with a pie chart.

If You're a Speculator

If you're a speculator and comfortable with a certain amount of risk, and you want to protect your transaction privacy, you should be looking for a wallet that isn't bound to a specific exchange on the back end.

If a wallet requires ID verification or other kinds of identifying transaction data, this might not be what you’re looking for. Exodus and Jaxx work for this purpose, in conjunction with ShapeShift for exchanging one kind of coin for another.

If you're not interested in speculating and you want to store cryptocurrency as a kind of digital nest egg, you should look into a safer, more regulated environment. A regulated exchange like Coinbase might be most suitable for your needs.

Coinbase goes through great pains to make sure they follow US banking laws, and they're backed by the capital to support their platform. Coinbase doesn't support all currencies though, so that is one disadvantage. They do offer a cold storage vault which may be of interest to people that trust the company to hold their assets.

Next, on the list are minimalist cryptocurrency wallets. Options include applications such as BRD or Copay Bitcoin wallet (details below). These wallets are primarily mobile, allowing you to access and track your digital currencies while on the go.

They're not meant for purchasing assets with fiat, and they're probably not ideal for holding large amounts of digital currency. Their most valued purpose is as a way to keep your funds on your phone to potentially pay for things with the build in QR scanner.

Security Considerations

You may be worried whether your cryptocurrency wallets are safe for holding a large number of assets. For day to day use, things like a basic desktop wallets or mobile platforms should be suitable. However, some kinds of wallets are indeed more secure than others.

Every wallet has password-controlled access of some kind. These could be a standard passcode or a pin code you have to enter in conjunction with a kind of app or dongle. Most encrypt data through a thing called SSL (Security Sockets Layer) to protect your transaction while it's processing. This mode of encryption securely protects your private key and public key on your local device or the servers of the cryptocurrency platform you're using.

That’s the most basic form of currency on any platform. The next security feature that you should find on most platforms is two-factor authentication (2FA) and multi-signature support.

2FA

This is when a particular piece of software on your mobile device provides a numerical key you'll need to sign into your account and access your wallet. Generally, this code is only accessible through an app and not through an email or a text message. The 2FA software makes a new key every minute, and this prevents people with private key-loggers from reliably being able to attack your account. This means that for someone to attack you, they would need not only your primary account details but also your mobile device.

Multi-Signature Support

This is otherwise knowns as a “two out of three” system. It’s similar to a joint bank account in regards to the private key to your wallet. It generates three keys: one that’s controlled by the platform, one that’s controlled by you, and the other is shared with a third party. To obtain access to the assets, you must have at least two out of the three keys. This is similar to the type of system some platforms use for their cold storage vault service such as Coinbase.

Hot Wallets

coinbase - best cryptocurrency wallet

Coinbase is one of the most accessible platforms for getting started with cryptocurrencies. You buy, sell, and hold digital currency. You can also sell your coins for dollars and deposit the cash into your U.S. bank account.

Coinbase not only offers support for Bitcoin, but it also has Ethereum, Bitcoin Cash, and Ethereum. There are always rumors circulating that new coins could be added in the future as well, like Ripple.

While the significant upside of Coinbase is ease of use, that is offset with some worries about security. Mt. Gox was at one point the dominant platform for Bitcoin and other currencies. That is until it was hacked and lost nearly half a billion dollars in user currency. However, Coinbase did learn from Mt. Gox’s loss, and has excellent security in place and regularly updates and improves the entire user experience.

The most significant advantage of Coinbase is its security. After Mt. Gox got hacked and lost users billions in assets, Coinbase has made a dedicated effort not only to observe banking regulations, but also to make their users' experiences are most suitable.

Is Coinbase a safe wallet?

Coinbase is an online platform with a web-based wallet. It is probably of the most beginner-friendly sites for novices to get involved with Bitcoin. You can easily buy Bitcoin with cash, connect your account to your bank account. You can also activate 2FA (two-factor authentication) for safety and security. The only disadvantage to using Coinbase is their limited support of different coins on the site.

PROS

  • Supports two-factor authentication and multi-signature accounts.
  • Reputable institutions and well-funded back it.
  • An easy way to integrate fiat with digital currencies.

CONS

  • It's a hosted wallet, so keys are stored elsewhere.

Conclusion

A Coinbase wallet is suitable for someone that doesn't know much about cryptocurrency. However, most would be better served by learning how to store their digital assets on their own, away from a platform that can arbitrarily decide to close your account.

Blockchain.info

blockchain.info - best cryptocurrency wallet

If you didn’t already know, "blockchain technology" is what allows cryptocurrencies to have the value they do today. 

 Blockchain.com (or Blockchain.info) is a wallet which supports Bitcoin, Bitcoin Cash, and Ethereum. It also has a bitcoin block explorer service.

Though it’s not a full exchange, it is still considered to be a safer alternative to Coinbase. Because of the lower level of attention it receives, perhaps it won’t be such a prominent target for hackers. This wallet is a little more advanced than Coinbase, adding increased security.  

Hardware

Trezor

trezor

Trezor provides no system for buying and selling cryptocurrencies like Coinbase. It is merely a wallet for storing your digital assets. Trezor is a kind of dongle that you can plug into your phone, tablet, or PC so that you can securely access your coins.

The Trezor supports many different currencies, and comes with two-factor authentication, can be used as a password manager, and has other useful features.

The wallet has some protections against lost devices or passwords, but you should make doubly sure that these kinds of situations don’t happen to you. The point of this hardware wallet is to prevent others from stealing your coin, so the recovery process isn’t a simple one.

Trezor is one of the most popular when it comes to hardware wallets, setting the gold standard for security. They have a reputation for preventing both virtual and physical theft of currency. Even if they may not be the most stylish alternative, Trezor may be one of the most secure. Trezor is more of a vault than a wallet, as even if someone succeeds in attacking your device, they will have no way of accessing your private key.

KeepKey

keepkey - best cryptocurrency wallet

This is one of the most elegant-looking tech gadgets for protecting your digital currency. They come with a polished design and what is said to be a port of Trezor’s security software.

The main difference between Keepkey and Trezor is that the Keepkey feels more like a luxury item. It’s attractive, a little heavier than other wallets, with a simple client UI for easy use.

Ledger Nano S

ledger

Ledger Nano S provides a similar level of security to Keepkey and Trezor. What makes it an attractive option is its lower price. 

It's portable, easy to carry, and priced competitively. However, which is the better option between Trezor and the Ledger Nano S? Read my comparison guide for more details.

For more guidance on which hardware wallet will be most suitable for your purposes, check out my guide on Trezor vs. Ledger:

Apps for Buying and Selling

Robinhood

best cryptocurrency wallet

However, what sets Robinhood apart is the cost: free. There are no commissions when buying or selling Bitcoin, just like stocks on the platform.

Some may argue it is less secure for reasons we already discussed, but if it is secure enough for your stocks, it is secure enough for your coins.

The fact that there are no fees is what makes Robinhood one of the most attractive options. While it may not be as secure by comparison to hardware wallets, if it can be used as a portfolio for stocks, it should also serve as an appropriate platform for cryptocurrencies.

Desktop Software

Exodus

exodus - best cryptocurrency wallet

Like Electrum, Exodus is a wallet that you can keep on your desktop computer. What sets it apart is its beautiful interface and intuitive features. 

Whenever you buy a coin and place it in your Exodus wallet, the wallet shows a helpful pie chart to determine your asset spread. It is also integrated with Shapeshift, allowing you to quickly and easily exchange currencies.

It doesn’t require you to register an account because it is not used to purchase coins. One thing you’ll want to keep in mind is that Exodus includes private keys and other security tools in folders on your computer. This is one of the most user-friendly software wallets.

PROS

  • Beautiful interface
  • Perfect for beginners
  • Large selection of supported coins
  • Shapeshift integration

CONS

  • No multi-signature support
  • No mobile version
  • No two-factor authentication

Conclusion:

This wallet is perfect for people that want an easy desktop solution to holding a vast array of different cryptocurrencies. Not only are many different coins supported, but it also provides a way for users to access the kinds of currencies they desire through ShapeShift.


electrum - best cryptocurrency wallet

Electrum is another software wallet similar to Electrum, which stores your keys on a set of files in your computer. As of now, you can use it on MacOS, Windows, Linux, and Android. 

 It can also be used in conjunction with hardware wallets such as Trezor.

Electrum takes little time to get set up and use for storing Bitcoin. While some worry about what might happen if your computer were damaged in a house fire, or if your computer ends up hacked and corrupted, there are ways to keep your coin safe with some seed words. You can easily use your seed to restore your wallet on a new device should anything happen.

Best Mobile

Mycelium

mycelium

This is a mobile-only application, compatible with iPhone and Android. This wallet has more multiple options for slightly more advanced users of cryptocurrencies. 

However, beginners should still be able to use the functions and navigate without difficulty.

Though this application is not available on the web, most users are comfortable using their devices. Mycelium allows for anonymity and is a secure mobile solution for keeping cryptocurrencies.

Copay

copay

Copay wallet is an HD-multisignature wallet original created to be used in tandems with BitPay. It supports shared wallets, testnet, multiple personal shared wallets, and the full Payment Protocol. 

It can be used in tandem with the BWS node for enhanced privacy and security.

PROS

  • Supports multiple wallets
  • Supports multi-signature accounts
  • Easy to use

CONS

  • Only has support for Bitcoin
  • No multi-factor authentication

Conclusion

While Copay may be Bitcoin only, it supports multi-signature accounts and is easy to use. As long as you’re not looking to store altcoins, Copay might be a good choice for a mobile crypto wallet.

Best Universal

Atomic

atomic wallet

Atomic Wallet is a non-custodial, multi-asset wallet, with more and more users. With a very user-friendly interface, this wallet can be used to store and manage over 300 of the top cryptocurrencies.

 Every week, they update their list of supported coins. If you don't see the coin you're looking for yet, it's likely you soon will. The wallet is available for all major operating systems, supporting Max, Linux, Windows, Android, and iOS.

Atomic Wallet has almost all of the features you might be looking for. It has a built-in option to interface with a bank card, an intuitive AI, and decentralized storage of private keys. It also integrates with Changelly or Shapeshift for storing custom tokens.

Atomic Wallet features a new kind of decentralized exchange technology called Atomic Swaps. Based on hash timelock contracts, this feature is available for Litecoin, Bitcoin, Ethereum, and QTUM.

Jaxx

jaxx

Another mobile wallet, Jaxx offers most of the same benefits and features you would expect. It has versions for Android and iOS. 

It allows you to scan QR codes to send assets, check how much you’re holding in assets, and back up your wealth with a mnemonic seed.

It offers Shapeshift integration and can be linked with other wallet platforms. The only potential drawback to this wallet is that it might take a while to learn how to make use of all the features. It’s a little advanced in that sense.

PROS

  • Clean, user-friendly interface
  • Supports multiple coins
  • Shapeshift integration
  • Works and many different platforms

CONS

  • No multi-signature support
  • Can’t be used on PC
  • No two-factor authentication on a mobile wallet

Conclusion

Jaxx is probably one of the most excellent mobile wallets in terms of support, many currencies on the platform, and convenience. Some people still say that Exodus is a superior experience.https://www.exodus.io/

Questions

What’s the best wallet?

It depends on what platform and what features you are looking for. For hardware wallets, Trezor is a solid choice. For software wallets, Exodus is highly recommended. For universal software wallets, Jaxx often has the features people are looking for.

What’s the safest wallet?

Cold storage, such as hardware wallets or paper wallets, are likely the safest, as they prevent hackers from being able to attack the security of your assets without physically getting their hands on your materials.

Is there a wallet for all coins?

Jaxx and Exodus come close to a universal cryptocurrency wallet. They are continually adding support for new wallets as time goes on. 

What is the best wallet for altcoins?

The best crypto wallet for altcoins would be the ones providing the largest amount of support for new and upcoming currencies. For this I would also recommend Jaxx or Exodus.

What is the best way to create a crypto wallet?

The best way to create a crypto wallet would depend on what you want to use it for. For saving, without access to the assets, I would recommend creating a paper wallet. You can also use a USB flash drive as a crypto wallet by storing your keys.

Best Android crypto wallet?

I would recommend Jaxx or Copay. Both offer supports for multiple currencies, both are very secure.

Best crypto wallet for Asimi?

The Waves wallet appears to be the only way for Asimi holders to receive or exchange the tokens without restrictions.

Best crypto wallet in Mexico?

The best crypto wallet in Mexico is Bitso.

Tron Predictions 2019 – Could Tron (TRX) hit $1 by year end?

July 12, 2018
tron predictions

What are your Tron Predictions for 2019?

If I had to make some Tron Predictions, I'd say the future is looking bright. Tron (TRX) keeps pushing the limits in attempts to become one of the top crypto tokens. With the migration from of the coin from Ethereum’s blockchain and the deployment of Odessey, the network’s new mainnet Tron has a bright future. Tron has officially migrated from the ERC-20 based coins across many popular exchanges such as Binance, Coinegg, OKEx, BitFinex, and Bithumb.

Former holders of the Ethereum-based coins were able to support the migration process by depositing them into supported exchange platforms. After, they were issued new digital assets.

Though the token is only valued at $0.036756, Tron (TRX) has still been getting lots of attention from the press. It seems that many are aware of the long-term potential of the coin to be a significant investment. Tron has unique intentions, aiming to decentralize the internet. This has inspired many buyers, hopeful for what they feel could be a new paradigm.

Tron (TRX) is showing signs of an emerging bull run, despite the recent declines in the last few weeks. Good news might be on the way for Tron traders. The Tron price recently increased by over 6%, pushing the above the moving averages for 55 days and 100 days.

Breaking through these resistance levels is a promising sign. Tron might be in for a massive reversal. This could be the beginning of a new appreciation for the coin, which could send the price surging to $0.1 this quarter. We might even see Tron reach a record high of 1US dollar not long after.

Tron vs. Ethereum

While there are strong indications that Tron could see a bull run, it is unclear which will be the better long-term investment.

Ethereum simply needs to maintain its current position to retain value. With a few enhancements and add-ons, it could be difficult for Tron to surpass. It still seems many investors are eyeing Tron as the wily underdog.

Challenges that could impede Tron’s price increase

The Developer Platform for Tron is still new, and adjustments still need to me. Tron is a contender against other coins with fully developed platforms. The developer networks have to reach maturity before Tron could see its potential.

It’s worth noting that Ethereum already had 250 thousand developers, with more people coming on board every day. It will be a challenge for Tron to overtake them with the current state of their developer network.

As a Chinese blockchain, it could give US investors could feet, as geopolitical strife might be seen as a risk. Western investors might be suspicious of Chinese technology, and this could prevent growth.

With the establishment of partnerships and improvements to their platform, Tron still shows some potential to grow exponentially. Some feel that Tron is currently underpriced. If so, it could rise to over $10 if all variables remain constant. What do you think?

Disclaimer: This article isn’t meant to be and shouldn't be taken as investment advice. The author, employees, writers, cryptocurrency investors, may or may not have holdings in the coins mentioned in the above articles. Please do your own research before investing in anything and read our full disclaimer.

Trezor vs. Ledger

June 13, 2018
trezor and ledger

Trezor and Ledger

Online security is a huge concern these days. We all know that. If you have sensitive information, your safest option is to take it offline, or onto a closed, secure intranet. That’s what the DoD and agencies like the NSA have been doing for decades. And even that didn't help them in the age of WikiLeaks.

For black hat hackers, cryptocurrencies are more lucrative than data. It is basically cold, hard cash, in a digital form that is easy to transfer across the world, and anonymously at that. This is why online wallets and currency exchanges are increasingly coming under the crosshairs of cybercriminal operations in recent years.

The situation is worse now because of the growth of these currencies. More folks are showing an interest in investing is currencies like Bitcoin, Ethereum, and other “alt-coins.” When you invest in cryptocurrency, you need a wallet to store the keys to the currency. There are multiple options out there at the moment, all with their own strengths and weaknesses:

exodus wallet

PC Software Wallets

One of the simplest and most accessible options. Install the software on your PC, and you are golden. The keys are in your control. But if your PC is stolen, or hacked, or destroyed, you lose the currency. Unless you make secure backups elsewhere.

Online Wallets

Another type of electronic wallet, but this time stored online in the cloud by third-party companies. They hold the keys for you and take care of the security and backup aspects. These wallets are often free and commonly provided by popular cryptocurrency exchanges. However, you are basically putting your trust in others, and if they screw up and get hacked, you lose your money.

One such online wallet that some might use is that provided by LocalBitcoins.com. Many people like LocalBitcoins for some of their convenient features. They provide support for many different kinds of payment, including credit card, gift cards, cash, and even paypal. You can even buy Bitcoin in China on this platform. You can even use Alipay and WeChat to buy Bitcoin.

mobile wallet

Mobile Wallets

Basically an app that works as your Bitcoin wallet. Many online wallets come with dedicated apps. An excellent option to store smaller amounts of bitcoins for use on the go, in shops and other points of sale.

trezor vs paper wallet

Paper Wallets

A very convenient choice if you want to gift someone some bitcoins offline. Print the keys on paper, using something like WalletGenerator or BitcoinPaperWallet, and pass it along in an envelope. You can also store these in a safe deposit box or locker like regular paper currency. Obviously susceptible to fire and water damage, as well as theft.

Trezor vs Paper Wallet

Some people might wonder which is better, a paper wallet or a hardware wallet like Trezor. When you store coin to paper, you're basically making an inaccessible, but unhackable safe. 

It's like taking dollar bills and trading them for a gold bar to stick under your floorboards. Very secure, but you aren't going to be able to spend any portion of it without bringing it all back up and into a wallet. So, if you plan on spending any portion of your savings, a hardware wallet is a better choice.

Hardware Wallet

The sensible options when you want to go the DoD/NSA/Big corporations route and store large amounts of cryptocurrency offline. They can go online, to enable transactions, but otherwise stay secure offline. Difficult or impossible to hack, and safe as long as you can keep them in your possession (duh!). They look and feel like USB flash drives. Trezor and Ledger are among the most popular options out there, which is why I have decided to focus on them today.

Why Use a Hardware Wallet?

Take a quick look at the different wallet options mentioned above like Trezor vs. Ledger. Leave out paper wallets as more of a niche/situational alternative. Then you are left with basically two types of cryptocurrency storage: Electronic wallets and Hardware wallets.

Electronic wallets all share the same fatal flaw: they all reside on devices that connect to the internet on a regular, if not constant basis. What is common between a server holding cloud data, a home PC, and a mobile phone? They can all be hacked remotely. Firewalls can be breached, software vulnerabilities can be exploited, and your data can be accessed, viewed, and copied.

When third-party servers are hosting your wallets online, you have zero control over their safety and security. If we are talking about massive amounts of cash, that is not something most of us are comfortable with, especially these days when cryptocurrency exchanges are getting robbed.

In the case of mobile and PC-based wallets, you do have some control and responsibility regarding the safety of your money. However, you can easily become the victim of a phishing attack. Plus you always have to worry about security patches and backups, not to mention the actual safety of the device itself.

It is this weakness that hardware wallets like Trezor and Ledger focus on overcoming. Moreover, they do that using one simple logic: stay offline, and the hackers cannot gain access. However, beyond that basic premise, these devices also add extra layers of security. To use these wallets, you will have to add your security codes and passwords.

If I can oversimplify things a bit, the whole process is not that different from using a debit card or a credit card. Plugging the wallet device into a PC is like swiping a card at POS device or ATM. The transaction can only be enabled if you provide the authorization using the correct password/code.

As long as you keep the device and passcode info secure and safe, your cryptocurrency is secure. This is the main draw behind these hardware wallets. They put the keys to your cryptocurrency in your own hands. You have more control, and hackers have no way to access the keys remotely.

The best thing to do is to incorporate all these different wallets into your cryptocurrency storage strategy. Use electronic wallets to hold the loose change, and hold the main stash offline in a hardware wallet. That way, you get a balanced mix of safety and convenience.

trezor and ledger

History

The history of modern hardware wallets begins with Trezor. The device was designed by SatoshiLabs, a bitcoin-based company in the Czech Republic. They were founded in Prague in 2013, and work on cryptocurrency safety and security. The first Trezor device was launched to the public in 2014. It was the first ever hardware wallet for bitcoin to sport a display. The name “Trezor” means a “safe” or “vault” in Czech and many other Slavic languages.

The company has witnessed massive growth since the launch of Trezor. In 2015, they expanded their presence to over 100 countries across the globe. The CEO of the company, Marek Palatinus, cut his teeth in the bitcoin business with Slush Pool, one of the oldest mining pools in Bitcoin history. Trezor has seen exponential growth ever since cryptocurrencies became mainstream in the last couple of years.

SatoshiLabs has seen its value grow into millions thanks to a surge in demand for Trezor since 2016. A new and upgraded version of the device, named Trezor Model T was released in mid-2018 after spending several years in development and testing.

Nano History

Launched in 2014 as a collaboration between eight blockchain security experts, Ledger has its headquarters in Paris, France. The company has two variants of their eponymous hardware wallets, called the Ledger Nano S and Ledger Blue. The current version of the Ledger Nano S was launched in 2016.

Thanks to strong consumer demand, the company has grown in size in recent years. The company currently has offices in San Francisco, California, and Verizon, France. In 2017 alone, Ledger sold nearly a million units of their hardware wallets, providing stiff competition to Trezor, who is the industry leader when it comes to sales numbers. The rise is pretty stark when you compare its numbers in 2016: they only sold 30,000 units that year.

The recent upheavals in the cryptocurrency world have put strong winds in the sails of this French company as well. Like SatoshiLabs, they have received keen interest from investors, raising around 75 million dollars in Series B venture capital financing rounds last year.

Comparisons

New cryptocurrencies have been appearing like mushrooms after the rains in the last couple of years. So that does provide a serious challenge to both Trezor and Ledger when it comes to delivering compatibility and support. The newer, more obscure altcoins tend to struggle the most, and for a good reason. You will find that most of the big names find a mention on the list of both wallets. However, there are also some notable absentees.

Trezor - Supported Currencies
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Bitcoin Gold (BTG)
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    Ethereum (ETH)
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    Ethereum Classic (ETC)
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    ERC-20
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    Litecoin (LTC)
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    Dash (DASH)
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    ZCash (ZEC)
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    UBIQ (UBQ)
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    NEM
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    Namecoin
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    Dogecoin
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    Expanse (EXP)
Trezor - Currencies NOT Supported
  • XRP a.k.a Ripple
  • Stratis (STRAT)
  • Komodo (KMD)
  • Ark
  • Vertcoin
  • Viacoin
  • Neo
  • Stealth (XST)
  • Stellar
  • Hcash
  • Digibyte
  • Peercoin
  • PivX
  • PosW
  • Zencash
Ledger Nano S - Supported Currencies
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Bitcoin Gold (BTG)
  • check
    Ethereum (ETH)
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    Ethereum Classic (ETC)
  • check
    ERC-20
  • check
    Litecoin (LTC)
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    Dash (DASH)
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    ZCash (ZEC)
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    UBIQ (UBQ)
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    Expanse (EXP)
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    Dogecoin
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    XRP a.k.a Ripple
  • check
    Stratis (STRAT)
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    Komodo (KMD)
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    Ark
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    Vertcoin
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    Viacoin
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    Neo
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    Stealth (XST)
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    Stellar
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    Hcash
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    Digibyte
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    Peercoin
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    PivX
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    PosW
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    Zencash
Ledger Nano S - Currencies NOT Supported
  • NEM
  • Namecoin

As is quite clear, Ledger holds a significant advantage over Trezor as well as compatibility is concerned. It has almost all the coins on the Trezor list, along with support for a host of the lesser known alt-coins. Please note that the below lists are not exhaustive by any means, and are subject to change, as the companies update their device firmware. Please check the official pages for the most up to date list of supported currencies.

trezor - ledger

Trezor Setup & Usability

Trezor is available for sale from the manufacturer website, and also from Amazon. Do note that you should only buy this product from an official Trezor store. Any device purchased from third-party sellers on sites like eBay may not be secure.

When bought from the official store, the Trezor arrives hermetically packaged and sealed to prevent any chance of tampering during transit. Trezor is an HD wallet that can store your private cryptocurrency keys. It is like a small computer, with a dedicated display, microprocessor, and storage.

Setup of the device involves multiple steps. The steps are straightforward, but this is a high-security device. You cannot skip or fool around with the setup process. It does feel a bit complicated, and beginners can get confused.

First of all, you have to connect the device to your computer using the USB. Then a visit to the myTREZOR website will get things rolling. An automated process is initiated, and you are asked to download a Chrome browser plugin. Once the plugin is opened, you have to input the PIN the device generates and displays on its screen.

Your computer screen will show a nine-digit keypad filled with question marks. To input your in, you have to use a separate keypad with random numbers that are displayed on your Trezor. The machine generates this keypad randomly. The whole point of this convoluted process is to prevent any keylogger (or even a person with complete access to your PC) from stealing the PIN.

After this, you have to write down a 24-word password, or seed. The device randomly generates this seed for you. You will need this seed to recover your cryptocurrency stored on Trezor if the original device is destroyed/lost/stolen. This seed is your backup. So you have to be extra careful about safely storing this seed. Trezor provides a paper to write this seed down. You should either store this paper in a safe or use a durable metal device instead, like the Billfodl.

The whole setup process can be completed in under 10 minutes. You can even set an additional passphrase after generating the seed to add an extra layer of security in case your Tresor gets stolen. And yes, it is a common complaint among Trezor users that this initial setup can be a bit complicated. However, it is well worth it for the extra safety it offers.

Usability, on the other hand, is effortless. You need to input your PIN everytime you want to make a transaction. Also, you have to authorize the transaction with the press of a button on the device.

ledger - trezor

Ledger

The Ledger S Nano is another hardware wallet with a built-in screen. It is slightly cheaper than Trezor, and also has a different design and architecture inside. The device is available online at the manufacturer website. So it is highly recommended that you buy it from official channels only.

Like the Trezor, Ledger Nano S also uses a PIN code and 24-word seed for authentication and backup. But setup process is slightly different for the Ledger. Once you connect the Ledger device to your computer, it prompts you to visit the official site to set the PIN. But the PIN is set on the device itself, and not using your PC browser in any way. The four-digit PIN can be set using the device buttons.

Once the PIN is set, you have to write down and store the 24-word seed, just like in the case of Trezor. You get a paper card along with the box for this purpose. Once written down, the device will ask you to input four random words from the seed to finish the setup process.

Usability of the Ledger is simple and comparable to Trezor. You use the PIN to unlock the device. There are multiple apps you can download, depending on your choice of cryptocurrency. Ledger also provides a Ledger Manager software to manage all these different apps. You will have to download them using your browser.

Display

Both devices have in-built monochrome displays that remind you of old MP3 players or your car stereo deck from the 1990s or early 2000s. The Tresor OLED display is much bigger and taller, like an old Nokia mobile screen, with around 4-5 lines worth of space. It is big enough to show a miniature 9-digit keypad. The display text is white.

The Ledger display is shorter and broader, capable of showing two lines of text. Though tiny, it is still capable of showing all the information you need, like seed words, menus, addresses, and transaction amounts. The text display is blue. Overall, I find the larger Trezor display to be easier on the eye, and more comfortable to work with.

Compatibility

I have already listed all the compatible cryptocurrencies for both devices in another section. Trezor uses the in-house Trezor Wallet as default for all your cryptocurrency transactions. But if you want to use a different wallet, they do have support for third-party wallets like Electrum 2.0 and Multibit HD.

But in most situations, you should find the default Trezor more than adequate to handle all your supported coins. The major ones like Bitcoin and Dash work smoothly, but transferring coins from myetherwallet have shown some hiccups in the past.

Ledger uses a different system for the Nano S wallet device. There is a Ledger Manager that you can use to download separate apps for each cryptocurrency that you use. You can download three other apps for coins like BTC, ETH, and Ripple, to name a few.

Personally, I find the Trezor system to be more streamlined. But of course, the fundamental disadvantage is that Trezor has lesser number of supported currencies. For example, Trezor Stratis support is non-existent at the moment, to name one popular alt-coin. The best Ledger wallet feature is its flexibility and ability to work with more altcoins out there.

Size

The product specifications indicate that the device measures 60x30x6 mm, or 2.4x1.2x0.2 inches. It weighs just 12g or 0.42oz. The device is like a USB stick or dongle, but broader than average.

Nano

The Ledger Nano S is virtually indistinguishable from your average USB stick. It has the same shape and size. The official measurements are 98x18x9 mm or, 3.8x0.7x0.3 inches. It has a swiveling cover to protect the small display, which makes the device longer when opened. The Ledger is marginally heavier at 16.g or 0.5 oz.

Both devices are incredibly compact and easy to store and carry around. This also makes it quite easy to misplace them, if you are not careful that is.

Appearance & Durability

Trezor is available in three colors, black, grey, and white. The device is made from plastic with a matte, anti-scratch finish. The device looks robust enough and can handle quite a bit of punishment. But it is just water resistant, not waterproof. And the plasticky bits have a fair amount of flex, especially around the buttons. Overall, there is quite a lot of room for improvement, as far as fit and finish levels are concerned.

The Ledger is available in the standard black plastic case, with a metallic swiveling cover. The device has two buttons, which work quite smoothly. Overall, it is not much better than the Trezor when it comes to building quality and ruggedness. It does have a better design, with the slender shape and swiveling metal cover. But like the Trezor, its overall build quality is decent, not on the level of high-end products like iPhones or anything.

Both devices are rugged enough for occasional travel. I would not personally recommend carrying them around on a keychain or anything of that sort. That is not their intended purpose anyway. You should be using a mobile wallet for use on the go. For something that stays at your home most of the time, both these devices have enough ruggedness on offer.

Physical Security

You cannot rule the eventuality of these devices getting into the wrong hands. Physical theft of the device is always a possibility. But the question is, can the thief crack these devices and get his/her hands on your coins? For that to be possible, some or all of the following things will have to happen:

  • The thief also knows/finds out your PIN
  • The thief also knows your seed code, all 24 words of it
  • And they also get your passphrase (on Trezor, if you set it in addition to the seed)

As you can see, a fair few things have to happen for the bad guys to get their dirty hands on your money with these wallets. If you have some patience for a longish read, check out this Wired editors experience after forgetting his Trezor PIN and losing the seed code. This will give you an idea of how tough it is to unlock one of these things.

You can do several things to avoid losing your money along with the device. The most important thing to do is not to leave the vital information lying around the house, or in your wallet, PC, or mobile devices. If at all possible, keep them offline, in separate secure locations, preferably on fireproof materials. And never, ever leave them all in the same place, i.e., your Trezor/Ledger, the PIN, and the seed. If you allow that to happen, then you pretty much deserve to lose the cash!

Conclusion

Both Trezor and Ledger provide excellent value for money, but only for their target customers. That is a fundamental fact that you have to keep in mind. People who invest a few hundred dollars may not find much use in a device that costs almost a 100 bucks on its own. These are best suited for people who have thousands or tens of thousands invested in cryptocurrencies.

They both have their pros and cons, as I have already tried to outline. In short, if you invest only in the major coins like BTC, BTH, or ETH, Trezor is more than enough for your needs. It also has a more robust security system with an additional layer.

The best Ledger wallet utility can be had by guys who put their money in lesser-known alt-coins like Ark, Komodo, Neo, or Stealth. In Trezor Stratis and other alt-coins are not directly supported. Pick one hardware wallet based on your cryptocurrency tastes and preferences for best results.

Pornhub Accepts Crypto/BNB Token Burn/Funfair Token Spike/IMF Director’s Positive Crypto Post

April 19, 2018
pornhub accepts crypto
I’ve been following Crypt0 on YouTube for a while, and here I’ll be paraphrasing some of the comments he makes in his video, while adding a little commentary of my own.

For the last few days, the market has been relatively stable. If you’ve been holding lots of different coins, you’ve more or less evened out. I find it interesting that there hasn’t really been a big rally in 2018, but I took this as a signal of opportunity. While the crypto-enthusiasm cools, it’s not unwise to quietly start taking educated positions.

The recent partnering of Verge with Pornhub has elucidated some biases that I also shared. I didn’t think people paid for pornography as much anymore. There is so much free content online these days, it seems that actually shelling out for adult materials would be unnecessary. But I was wrong. Plenty of people still spend money on adult content, as shown in this popular recent infographic below:

pornhub accepts crypto

Charlie Lee sent a tweet to Pornhub requesting that the platform also start accepting Litecoin. This was interesting because it revealed that Charlie still doesn't own any of the currency:

pornhub accepts crypto

Chilean banks recently had closed the accounts of businesses involved with cryptocurrencies. As a result, these exchanges are taking the banks to appeals court to see if they could get a reversal. The three exchanges involved are Buda, CryptoMarket, and Orionx. I wish them luck. 

The IMF has been discussing Cryptocurrencies and not all of the feedback has been negative. One major consideration that keeps coming up in the discussion has to do with some kind of middle man to protect against fraudulent transactions. This is definitely a vulnerability for crypto, at the moment.

In the post from the IMF, they make comparisons between cryptocurrencies and the tulip mania of 17th century Holland. How many times have you seen someone on the internet make this comparison? Well, as it turns out, this story of Tulips so many people like to point to as an example of the perils of the free market, is an exaggeration.

Binance recently did their 3rd quarterly token burn. It’s to be expected that if there’s a demand for these tokens and the supply keeps decreasing, the price should increase. But for some reason, the price hasn’t been going up as expected.

Funfair has partnered with Spike games to create new versions of Funfair’s blockchain casino platform. These games built entirely on the blockchain will be starting with a revamp of ‘Alice Cooper’s School’s Out for Summer.’ While this project sounds interesting, it leads one to wonder who the target audience is for these products. Are the people who remember Alice Cooper the same as those now embracing this new technology for purposes of gambling?