In recent years blockchain technology has become contagious. Its growth attracts more and more investors to fall for it. With all this growth of cryptocurrencies, merchants longed for a safe and reliable wallet to store all the digital currencies.
Basically, a Multi cryptocurrency wallet is a software that is used to interact with the blockchain network. Simply put, it is a wallet that stores all your digital assets.
In fact, you cannot touch and feel the cryptocurrencies, and without crypto wallets, the whole idea of crypto coins dies!
Furthermore, there are several types of cryptocurrency wallets available in the market. Here are the five most popular cryptocurrency wallets available for your use.
Online wallets are one that runs on the cloud, and it allows access to your crypto coins through the internet. The online wallet is also known as a web wallet.
These wallets are considered as one of the least secure types of a cryptocurrency wallet, and hence it needs an extra layer of security.
Advantages of online wallet
It enables the fastest way to complete the transaction.
It is very convenient to use on the go and for active trading.
Disadvantage of online wallet
High risk of online security such as scams, hacks, malware, insider hacking, etc..
Your coin information is stored by the third-party, not you.
Mobile wallets are nothing but your phone applications. They are very easy-to-use, and hence you can use them even in the physical stores.
Simply install a crypto wallet app on your phone and open an account. Mobile wallets are much safer than cloud wallets.
Advantages of mobile wallets
More convenient and easy to use, you can accept and send payments on the go.
Additional features like QR code scanning is an added advantage.
Disadvantage of mobile wallet
The risk associated with mobile wallets are physical breaks or any security breaches.
High risk of affecting virus and malware in your mobile
Desktop wallets are another choice of choosing over online wallets when security is concerned.
All you need is to download your wallet application and install it on your desktop or laptops. If the desktop has never been connected to the internet, it becomes a cold storage wallet.
Advantages of desktop wallet
Easy and convenient for those who trade cryptos from their desktops
All your private keys are not stored on the third-party server
Disadvantages of desktop wallet
Backup of your computer is very important if not done; then, there is a chance of losing your cryptos.
It is difficult to use your crypto assets on the go.
Hardware wallets are feasibly considered as one of the safest crypto wallets among all. They can store all your private keys on a device.
They are considered a great way to store large amounts of cryptocurrencies, and they need more control.
Advantages of a hardware wallet
You can use this wallet if you have the plan to hold your crypto for a longer time
They allow you to set up PIN code to protect your device and recover them as well if in case your wallet is lost.
Disadvantage of hardware wallets
As they are the safest cryptocurrency wallet, so the expense of the wallet is high.
Inconvenient for some beginners to use, but absolutely useful for large crypto amounts.
Paper wallets are also the safest option to store all the digital currencies. They are just a piece of paper on which your crypto address, public and private keys are physically printed.
This wallet is highly resistant to online threats and considered an alternative to cold storage.
Advantages of paper wallets
All your private keys are not stored on the third-party server.
Once the code is used for any transaction, it cannot be reused later, and hence it is considered a hacker-proof wallet.
Disadvantage of paper wallets
One has to put more effort to move cryptocurrencies.
Need more technical understating, and hence it is hard to use for the day-to-day transaction.
As said earlier, cryptocurrency wallets are an integral part of using cryptocurrencies. It is very important to choose a secure cryptocurrency wallet, so it’s better to rely on any cryptocurrency wallet development company. Try to understand how they work before making any transaction!
Let’s get started on crypto trading bots!
Even though humanity states that humans engineer bots and machines, it’s undeniable to accept they are intellectual and smart enough than humankind in certain tasks. One such thing is crypto trading bots!
Arbitrage Crypto Trading Bots are self-operating computer protocols that conclude trade deals in the exchange platforms with the set of predefined strategies and rules. The crypto bots monitor across multiple exchange platforms round the clock and make as much as the profit they can to manage in your portfolio!
Even though crypto trading bots are completely intellectual and smart, they are expensive, and you must never invest in them without irresistible need. In this blog post, discover when to use crypto trading bots and then if it’s required you can purchase them!
When to use cryptocurrency trading bots?
Crypto trading bots can perform a lot of tasks for you in the exchange accounts like rebalancing, managing portfolio, smart trades, monitoring the exchange prince ranges. When it comes to setting the protocols of the trading bot, you must know when to use them and what are the tasks to be automated. Here’s the look around on the scenarios at which you must employ crypto trading bots!
Repeated tasks and schedules
Repetitive admin tasks like rebalances and other specific processes can be automated with trading bots. You can manually set alarms and rebalance your crypto portfolios every hour. But, in the busy schedules and office meetings, it is viable to lose rebalances in your crypto portfolio. Hence, you can employ crypto trading bots to automate the repetitive tasks in the exchange platforms.
Crypto market space is volatile and experiences price volatility for every second. Before concluding the desired profit rates, the crypto market may change. Hence, employing trading bots for completing swift deals without any losses can be appreciable. Monitoring multiple crypto exchanges and closing the deals at the appropriate time can be tedious for human, but it’s compelling in case of bots.
Round the clock tasks
Whatever the profession maybe, we are humans at the end of the day! We need breaks, sleeps and we do get tired of working. Performing day trading round the clock is impossible for humanity, whereas bots are invented to do that jobs efficiently. Crypto trading bots can diversely manage portfolios effectively and conclude the lucrative deals with desired profit range at any time.
Complex trading strategies framed by professional crypto traders can be hard to understand theoretically. When implemented in exchange platforms, the trading strategies can be understood better. Mirroring trading techniques can be implemented with ease by employing crypto bots.
Crypto trading bots can automate certain tasks in your exchange accounts. But, it doesn’t mean completely deviating from your duties of crypto trading. You must periodically inspect the trading strategies with due diligence. However, while purchasing the crypto trading bots, it’s your duty to audit the security aspects of these bots!
The digital revolution can hit our doors in assets too. Crypto payments can reap enormous benefits to the merchants, small and medium scale industries. Giant brands build their customized payment system for accepting different types of cryptocurrencies. Integrating the pre-built cryptocurrency payment gateways for start-ups is sufficient!
In this blog, let’s have a look at the top 6 reasons that will make every entrepreneur accept cryptocurrencies soon!
Top 6 reasons to accept crypto payments in business
Rapid Borderless Transaction
Crypto coins are an effective way to transfer assets across the globe within minutes. Business partners need not wait for banks to process international transfers; instead, if the crypto wallet is handy, you can send and receive coins across the globe. With no intermediaries on crypto transactions, the processing time is much lesser than conventional bank transactions.
Just a mobile with an internet facility can make your crypto transactions happen within minutes. For giant, medium, or small scale businesses expanding globally, crypto payment integration is mandatory.
The crypto transactions are recorded on the blockchain network, which is decentralized, immutable, and secure. Hence, the crypto transactions can be traced back to its provenance, even if there is any dispute. Moreover, to hack a particular crypto transaction, the counterfeiter must break the entire chain of transaction, which is almost close to impossible.
Lower Transaction charges
In fiat transactions, be it a card or monetary transaction, almost 150 billion are incurred as intermediary charges by visa and MasterCard service providers. Crypto payment gateways can save the enormous intercharges paid by the enterprises as it is devoid of intermediaries and other process charges. Integrating crypto payment gateways can reduce your transaction fee to almost 0-1%, thereby increasing your profit rates.
Banks prompt for federation issued ID proofs, digital signatures, email addresses, contact numbers, and much more information to hold the account. Every fiat transaction is recorded on the centralized server, which is vulnerable to hacks by the prying eyes. Customers don’t have control over the authorization or access of personal information in banking systems. In crypto payments, only public address of the wallet is shared, and the peers can perform transactions by signing off the ownership. In this way, crypto owners have complete control over their wallet address, and they can share their public keys with trusted people.
Devoid of chargebacks
In fiat transactions, the enterprises pay off significant chargebacks for the utilized products and services to the customers. However, businesses lose their money in the intermediary transaction charges, and the products can not be resealed. The crypto payments can be accepted in these cases and are beneficial as they are immutable. The crypto transactions can eliminate the repayments and chargeback challenges faced by the industries.
Devoid of intermediaries
The traditional banking system involves third-party intervention in your asset portfolio. It’s a big deal to safeguard your money from the banking system itself. You may have planned the fiat money in the account for some events, but as the month begins, it may be swiped off for mortgages or interests. In the case of crypto transactions, customers directly sign off the ownership of crypto coins to your wallet address. None of the intermediaries involved in the crypto transaction, hence maintaining the privacy of the transaction.
Crypto payments are the future transaction of every enterprise. You can start your trials by embedding the best cryptocurrency payment gateways for your business transactions!
To know more about the crypto space, stay tuned with us in this lockdown!
Introduction to What is a Cryptocurrency Wallet
In simple terms, a crypto wallet is a software functionality designed to store digital coins. But originally, it stores your public and private key addresses, thus enabling you to send and accept coins through blockchain. You can simultaneously monitor the wallet balance. They are far different than physical wallets.
How does a Crypto Wallet Work?
Private keys are similar to the PIN number of your ATM card whereas public keys resemble your bank account number. When you transfer a digital coin, it means that you’re sending a value in the form of a transaction, thus transferring your ownership on the coin to the receiver. Further, if the receiver wants to spend the new coins, his private keys should go in terms with the public address.
Finding Right Cryptocurrency Wallet
Today, there are a lot of wallets are available across the globe and finding the right Multi cryptocurrency wallet is a difficult task for the participants. I opt for Blockchain Firm since they provide a private, transparent, and the best cryptocurrency wallet. They embed the blockchain technology to make the wallets immutable and highly scalable. Along with higher security functions, the wallet is embedded with various featurettes like adaptability and user-friendliness.
Crypto Wallet-What Is Its Key Benefits
The key benefit of using a cryptocurrency wallet is the convenience it provides. You can do instant exchanges with the money being held in your wallet; it is quick and economical. You can also customize the wallets according to your requirements.
There are Multi Cryptocurrency Wallets, in which you can store numerous cryptocurrencies like Litecoin (LTC), Ethereum (ETH), Zcash (ZEC), Dash (DASH), Ripple (XRP), Monero (XMR), Bitcoin Cash (BCH), NEO (NEO), etc. all at once.
If you are looking to buy a multicurrency wallet, then here are certain matters that you should keep in mind. These will help you determine what sort of wallet you have to buy.
Do you intend to use the wallet for everyday purchases? Or is it meant only to store the cryptocurrencies for later investment?
Are you planning to use multiple cryptocurrencies or only one like Bitcoin? For various currencies, then you should ask for a multi-currency crypto wallet. A standard wallet might only store a single currency.
Do you wish to access your multi-currency from anywhere around the world or only from one place (say your home)?
Take plenty of time to analyze your requirements and then decide on buying a multi-currency crypto wallet.
However, the following would apply, in case you are running a blockchain-based company and wish to develop your kind of multi-currency wallet. Approach a multi cryptocurrency wallet development company like Blockchain Firm to keep you ahead of your competitors.
Now, let’s figure out the undeniable reasons to utilize cryptocurrencies(Gold-2.0) for your business!
Avoids hidden charges
Fiat transactions incur huge fees on every process. Be it a fee incurred on securing our credit, debit card security charges, internet, merchant, check, minimum balance or any other process, the conventional fiat currencies take off lumps of money from our pocket.
Crypto transactions are completely devoid of central governance. No intermediaries or third-parties take up the maintenance charges or fees for transactions. The community peers verify and approve transactions of crypto coins, and they are rewarded with the native coins for their proof-of-work. Even the best cryptocurrency payment gateways like Bitpay, Coinbase, BitcoinPay take up only 0.5-1% transaction fee, which is negotiable when compared to fiat transaction fees.
Protects Sensitive Information
Fiat payment service providers prompt users with more personal and account information. Maintaining the consumers’ information in a centralized server is hectic, and they are vulnerable to hacks. Crypto transactions are much more simple like POS payments, and it requires only public key of the counterparty’s crypto wallet to perform transactions.
Cryptocurrencies are accepted globally, and there is no need for further currency exchanges. The conventional transaction takes up 5-15 business days to process an international payment. Instead, the cross-border payments are made easier with crypto coins, and it hardly takes a negotiable timeline to complete the process.
Missing our wallets at home does not create a hectic day anymore. Every merchandise can be purchased with our mobile payment apps. The cryptocurrency wallets are built with NFC and POS features to enhance user-friendliness. As the crypto transactions are carried out in the decentralized network, they are much more secure. You can store the accessible amount of crypto coins in mobile wallets and the rest in cold storage wallets like hardware or paper.
The Advantages of cryptocurrency payment gateways are extensive for merchants and the service providers. Bitpay, being the leading crypto payment gateway processes transactions worth $1 billion. 50K+ merchants for their payment transactions have integrated Coingate. Leading brands of crypto and fiat payment providers are partnering with each other to provide intense, hybrid payment solutions.
The world is surprised to see the figures of BTC values as its sustaining around $7K! If you’ve invested in roller coaster volatile investments, it’s a great opportunity to invest in stable crypto coins!
Investors are fond of purchasing cryptocurrencies in recent times. A crypto wallet is a mandatory application for every crypto owner to manage and perform transactions with the asset. Every multi-cryptocurrency wallet development must be equipped with advanced security features so that the crypto coins can be protected from prying eyes over the web.
In this blog post, let me discuss the secret ways of earning from multi cryptocurrency wallet apps!
Top 4 secret techniques to earn from multi cryptocurrency wallet apps
Community peers of the blockchain network govern cryptocurrency transactions. Every crypto transaction is approved and added as a data block in the distributed ledger. The validation and approval process of crypto transaction takes up to 10 minutes. The transaction rewards for distinct wallets vary accordingly.
Blockchain network requires the support of crypto wallet owners in the task of holding the crypto coins for a specific period. The task of holding crypto assets in the wallet application for a certain period is referred to as staking of assets.
The blockchain network peers prompt for permission from the crypto owners and locks the assets in the wallet app for staking. The crypto owners are rewarded with commission charges for staking their crypto coins with tokens or other useful coupons.
Listing new crypto coins
Due to the increasing popularity of cryptocurrencies, every day, a new crypto coin is featured in the coin market cap. The new crypto coins have to be listed in the white-label cryptocurrency wallet applications of crypto owners for storing and managing the assets. Based on the value of the new crypto coin and its features, the crypto owners are rewarded with native coins.
Crypto wallet owners are rewarded with commission charges for consultation on investment options and trading strategies. The crypto traders owning the wallet apps afford insights on managing the crypto portfolio with the liquidity of assets. These insights fetch crypto owners the lucrative commission charges.
Crypto space has created extensive opportunities for the investors, entrepreneurs and consultants. Implementing efficient ideologies and features in exchange, lending platforms of the crypto market could earn lucrative business opportunities. Leading exchange platforms earn in billions every year with add-on services on the trade transactions.
To explore more on crypto space, stay tuned with us!
Introduction-What are Cryptocurrency Wallets?
A digital wallet or cryptocurrency wallet is a computerized functionality that aids in storing your cryptos. Crypto wallets are programmed to interact with various blockchain that allows users to send/receive digital currency & monitor the balance. Alongside, the users can check the status of transactions at any time after they log into the crypto wallet.
Besides learning how to buy & sell cryptocurrencies on crypto exchanges, it is important to own a dynamic cryptocurrency wallet to store your crypto assets. A single cryptocurrency wallet can hold only one type of cryptocurrency while a multi cryptocurrency wallet can store more than one.
Cryptocurrency wallets allow users to completely control your money, earn, and transfer crypto coins. Alongside, this will bring benefits such as decentralization, security, and transparency.
Types Of Cryptocurrency Wallets
It’s easy to know whether a cryptocurrency wallet is secure or not. You’ve to make sure a wallet has the following functions: passphrase feature, PIN code functionality, & Two-Factor authentication.
All cryptocurrency wallets are backed by multiple security features. However, the features differ according to the development team behind each wallet. Go through the factors mentioned below and if a wallet has all those features, then it’s a good one.
Private keys – Control your private keys from the wallet.
Conveniency – Dynamic User Interface for user-friendliness.
Development Forum – Activity in development communities.
Support & Security – Backup and restore functionality
Compatibility – Compatible with multiple operating systems.
2-Factor Authentication – Each time when login is attempted.
PIN – An 8-digit pin code for login purposes.
Passphrase – A strong password in case you forgot the PIN.
If you own a cryptocurrency wallet, make sure you follow the guidelines below:
Install & run any reliable antivirus software on your PC.
Ensure that you have a strong & secure firewall installed.
Avoid phishing and double-check the URL you’re accessing.
Never attempt to access your crypto wallet from a public Wi-Fi.
Always use two-factor authentication.
Do not install unknown software or apps on your device.
Utilize only trusted wallets and update them whenever possible.
Why Choose Blockchain Firm?
When you’ve decided to own a cryptocurrency wallet, then you’re at the right place. Blockchain Firm is the expert in cryptocurrency wallet development and they develop wallets as per your requirements. They abide by all the security standards and laws to develop a dynamic crypto wallet. Efficient technical expertise, quality assurance, and client satisfaction are the key terms of this firm.
What’s Cryptocurrency Wallet according to ordinary people?
A multi cryptocurrency wallet is nothing but your crypto asset bank account that is decentralized across the globe without any intermediaries. A bit chaotic again?
Crypto wallets are the only place at which you can store and make transactions of the cryptocurrencies. They are similar to our mobile or net banking applications that have a secure passcode to access. To be much identical and connected, crypto wallets can be connected to our email accounts that have an address and password. Email accounts can be utilized to store and share any valuable information.
Cryptocurrencies are being accepted as a payment option in many stores worldwide. Integrating Bitcoin as a mode of payment at check-out is seriously a good idea. All we need is an efficient, bitcoin wallet app for mobile devices.
Let’s see the benefits that a bitcoin wallet app could bring.
Trusted Form of Exchange
The digital nature of Bitcoin makes it the right and perfect solution for international transactions. Bitcoin payments are fast & cost-effective when compared to other slower & expensive payment options. Bitcoin payments are also free from foreign exchange rates and other hassles.
A digital wallet stores your Bitcoins locally. The wallet is secured by a unique private key that should not be disclosed to third parties. You can use this wallet to initiate a transaction.
Bitcoin follows the peer-to-peer mechanism. It means that each cryptocurrency wallet app acts as a node in a blockchain network. This network holds information about all the transactions made from the wallet. Another added advantage is that the transaction log is open and can be traced back at any given time. With this decentralized mechanism, a transaction can neither be blocked nor declined nor can the funds be locked.
A Safer Ecosystem
The Bitcoin ecosystem is set in an organized manner. It makes the wallet app a safer place to store, exchange, and use digital currencies. All the transactions in the wallet are signed with a cryptographic hash before they reach the blockchain network. A Bitcoin wallet allows you to send & receive payments and view your transaction history & current balance in the dashboard. The wallet also runs a few operations like synchronizing the blockchain, which is essential for validating transactions.
To initiate a transaction in the wallet app, you should know the recipient’s Bitcoin wallet address. Each wallet has a unique address. It is a combination of numbers and upper & lower case letters. A user can generate any number of addresses as he/she wants for their wallet. Knowing only the address, one can check how much money was sent to and from it. But it is not possible to say which wallet is associated with the address and who the actual recipient of the money is. Hence the anonymous factor.
Simply put, Crypto trading bot are computer programs that autonomously pick signals and trends and then execute trades. Unlike the regular homo sapiens that get carried away by emotions, bots are entirely dependent on the data and perform trades seamlessly.
As an added advantage, the bots help you do your trades even while you are fast asleep with your family. Some bots are programmed to trade on multiple exchanges while some stick to the mentioned platforms only.
The crypto market has numerous veterans who predict the rise and fall of various coins. The tips and commands they give are called signals which are available online on various platforms. The bots are crafted to pick signals from these specified and trusted market geniuses and carry out trades as pre-directed.
As humans, we may or may not understand the commands and there are high chances of being influenced by greed or grief.
Some of the Primary features of the cryptocurrency trading bot?
Obviously, bots have automatic trading capabilities. Yet it is essential to mention here that it is the primary feature of any given trading bot in the crypto field.
The bots should be able to subscribe to the signallers and mirror their commands. With this type of feature, anyone can easily trade cryptocurrencies.
The bots should be able to short sell the cryptos so that you can avoid major losses during a bear market and at the same time earn big profits.
Track and Trade
The ARBITRAGE CRYPTO TRADING BOT must be capable of buying and selling multiple coins simultaneously as the market fluctuation is considerably high in the crypto realm.
What’s mentioned here is only to give you a skeletal idea of what the bots really are. There is always more information coming. Keep watching this space.
The cryptocurrency payment channel is grabbing huge subscribers in recent years due to the rising demand in developed countries. The economy of the world is dependant, and it revamps based on the decisions of developed countries. Superpowers of the world have started accepting cryptocurrencies for the significant sectors and processes. Merchants, enterprises and many leading e-commerce businesses have set their POS to accept crypto payments.
Even the leading brands of the e-commerce sector have just integrated the payment gateway to accept cryptocurrencies. If you’re a merchant trying to include crypto payments for merchandise, you need not go for a crypto payment gateway development. Many crypto payment gateways render customer support services to integrate their payment system to your stores.
In this blog post, let’s look at the workflow of cryptocurrency payment gateways and their benefits.
How does the cryptocurrency payment gateway accept crypto coins?
Crypto payment gateways work similarly to other payment processing process. The crypto payments are reliable and rapid with community governance. The miner nodes verify transactions in the crypto platforms by tracing back the provenance. Streamlined crypto payment gateways are responsive and inclusive.
The payment service providers are liable to obey the obligations and norms of the fintech industry. The payment verification process in crypto transactions happens in the blockchain network with encrypted data blocks. Once the consumer sends crypto coins to the merchant, the miners verify the transaction. On successful completion of the crypto transaction, the crypto balance changes and gets reflected in the wallet address of consumer and merchant. You can opt for the desired list of cryptocurrencies payment services to the payment gateway providers.
Here’re the advantages of integrating crypto payment gateway in your business!
Advantages of integrating crypto payment gateway
In the crypto payment gateway, equipping with features to surpass the merchant wallet address is the significant attribute. As the popularity of cryptocurrencies is increasing at a steady pace, integrating the crypto payment gateway to your business POS can increase the sales figures to a greater extent.
Let me snipe the bullet shots on advantages of crypto payment gateways!
The crypto payment gateway abides by the data security standards and norms with rapid processing.
The verification and approval of crypto payments become comfortable with community governance.
With no intermediaries, the transaction charges are negotiable.
The liquidity of assets can be drastically improved with crypto and fiat payments.
You can enforce the crypto payment gateway to your payment system only if the user base is huge and they’re fond of trading with cryptocurrencies. The crypto payment gateway providers render you with a wide range of services. You can opt for instant fiat and crypto transfers based on the delight. However, for merchants, it’s a better choice to instantly convert the cryptocurrency to fiat to reduce losses on price volatility!