You might beamazed at the high returns the crypto-world has to offer or just fascinatedwith this new talk-of-the-investment-town. The reason can be anything; thepurpose is that you want to kick-start your journey in this world. But, beforeyou do so, it is important to spare time and understand how to go about it.People who are making money on this platform didnt just wake up one finemorning and started getting results. That is not how it works.

The first step isto reckon that you arent financially mature enough, and there is a lot of workinvolved behind the scenes to make a difference. Otherwise, if not at once, atsome point in the way ahead you are sure to lose money. It is simple, seecryptocurrency as an asset and just like before investing money in an asset,you try to learn about its returns, the production process, and other factors.Why not do that with crypto as well?

Below, I havecompiled a list that works for the same purpose: to establish your standing fora head-start in the world of crypto. Keep reading.

Dont jump into crypto without a clearunderstanding

Just because yourfriend from work made a fortune from cryptocurrency doesnt mean you will jumpinto it without any knowledge about its basic functioning and conditions. Of course,you can also earn the numbers you desire but rushing and hurrying is definitelynot the way ahead.

Thus, if you arehere for the long run, you must first understand its course of action. Forinstance, how many of you know the central bank does not regulatecryptocurrency? It is instead built on a peer-to-peer network. What are thefactors that cause their rates to multiply and divide? What led to the cryptoboom in the year 2018? Is this approach to earning secure enough? If there waseven one question in this set that went unanswered, then get back to the groundand start researching!

The employedprinciples of cryptocurrency ensure that everything is secure and safe from theviewpoint of third parties. Crypto operates on a similar mechanism like foreignexchange. It works through transactions, which is the transfer of funds betweenwallets. When the transactions are confirmed they are referred to mining andare stored in the public ledger. Of course, all of this is a lot more complex.So before you dump in your first investment in the crypto game, make sure yourresearch is on-point and you are well-aware of the basics of cryptocurrency.

Note: Browselatest updates and news in the crypto niche here https://top10bitcoinrobots.com .

Expects Ups and Downs

If the primaryreason you are beginning to invest in crypto is because you think the graphonly rises, DONT!

In fact, cryptois a very volatile market and expect-the-unexpected kind of genre ofinvestment. Just because it has been going up for a while, does not mean itwill always go up. There are more chances than not that the bubble will burstvery soon.

Like I mentionedearlier, the policies of the central bank dont apply to cryptocurrency, whichmeans politics will not play a role. But, on the other hand, there are a lot ofother factors that majorly affect its value, that requires individual attentionand learning

Heres a quickexample for you to explain the volatility of the crypto market: Back in the year2017, there was an unprecedented boom of Bitcoins. But a few weeks into 2018,and Bitcoinplunged nearly by 60%. You read thatright!

If I had to putit in a sentence, it would be Cryptocurrency isnt for the faint-hearted.

Move ahead with a Strategy

All your researchwork on crypto will be useless if you havent used it to carve out a plan ofaction or strategy of your own. If you are business, accepting payments in theform of crypto can prove to be a legitimate approach and a threat to otherbusinesses. However, you must be aware of all the businesses/industries thataccept payments in crypto.

Even though therehas been a lot of discussion on this topic: I think, initially, you mustconsider cryptocurrency as speculating rather than investing. You can alsoinvest conservatively considering the volatility, despite all the mainstreamattention. Whatever it may be, work on a strategy, because if you go with theflow, you might just be drowned in losses.

Research! Its common sense

The numerousbenefits of this point make me emphasize it EVERYTIME. When it comes to buyingcryptocurrency, a go-to strategy will be to buy when the price is considerablylow. That is what most people do. However, if its value is on a constant slideand is expected to fall more in the near future, its wise not to invest in it.

The more youresearch the more you will observe charts and other analysis tools on trendsand price movements. Thats the thing, the more you research the more you willbe able to predict appropriate future movements.

Although, you canreach out to a cryptocurrency broker who will do all the research work for you.However, remember no one can replace self-research.

Practice Investing

It is when youhave performed the above 4 things with efficiency, I believe you are nowactually ready to invest and practice on the markets.

This is when youhave got a better understanding of cryptocurrency and you can kick-start thereal game. Before you invest, as I said, crypto and forex hold similarities;you can try your newly-learned skills on demo foreign exchange accounts. Thiswill actually advance your senses on how crypto actually works. You will getreal-time experience on how to spot opportunities, trends, risks and learn howto make transactions.

Securing Cryptocurrency

Back in 2017, Bitcoinsrelation to fraud tripled. So, securing your crypto is a must. Try to use a highly securewallet or only use the ones that have positive reviews, reputable names and aredependable. Although nothing comes with a guarantee, this is relatively moreauthentic. Also, remember to use strong passwords and two-factorauthentications. Try to be as rigorous as you can.

Wrapping up!

Investing incryptocurrency is a process and not a regular If I can do this, I can do cryptoalso. There is a lot of groundwork that must be invested to actually make afortune or even living from the same. Especially for a newbie, try not to makerookie mistakes. After all, it is your real hard-earned money on the stakes.

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Finance2 days ago 4 Things to Know Before Investing in Cryptocurrency - Modern Diplomacy

However, throwing light on the rare events of hacking in the crypto world, Binance, the worlds largest cryptocurrency exchange based on the transaction volume, admitted in the mid-2019 that they had become the victim of alarge scale data breach. The breach was reported to have resulted in the loss of the cryptocurrency worth US$40 million. Binance had claimed that there occurred a stealing of over 7,000 BTC from the companys hot wallet.

In the year 2019, the Ethereum Classic blockchain reported to have a security compromise. Although the Cryptocurrency hacking and theft has only been asmall part in the cyber threat index, the significant risk it poses cannot go unseen.

It is essential to bring to notice that the impossibility of Blockchain un-hackability may no longer be a fact, and chances of hacking events can yet occur.

Coinbases security team had observed unusual activities in the Ethereum Classic network in January 2019. It seemed that the alternative currencys history of transactions was under attack. This event enabled the hacker to rewrite the transaction history, leading to the double-spending of crypto coins. It was possible for the hacker because he managed totake control of the Ethereum Classic networks computing resources. The hack reported to have led to the stealing of coins equivalent to $1.1 million.

51% is the label given to this attack because the hacker was successful in taking control of more than half of the computing capacity of a cryptocurrency network (half+1%). Control of the majority of the computing resources in the network gives the hacker the ability to tamper Blockchain. And once this interference in the consensus mechanism occurs, guarantee of the integrity of the system becomes extremely difficult.

51% attacks so far have only been worked on smaller cryptocurrencies. There existed no reports on Bitcoin, Bitcoin Cash, Ripple, and other top digital currencies, and this is the only soothing fact.

The hacking of the Blockchain requires humongous computing power, at least 51% of the entire cryptocurrency network. There would be a need for numerous superfast computers working together or millions of devices infected by cryptojacking malware. 51% attacks have occurred on less popular cryptocurrency due to their small underlying network of computing resources.

The attacker first generates an alternate and isolated version of the Blockchain and does not directly start with the stealing of coins. The attacker then cleverly builds blocks that are not broadcasted to other miners. As a result, a fork occurs that is followed by the regular miners and another by attackers miners.

The isolated alternative Blockchain is created by the attacker to take advantage of reversing the transactions and in enabling the double-spending by broadcasting the isolated Blockchain to the network and by outpacing other miners in completing blocks with the superior computing resources.

The regular miners then forced to acknowledge the faster, longer, and heavier alternative blockchain version as the correct one and eventually switch to it as the new canonical transaction history since the design of most blockchain-based cryptocurrencies to be deferred to the rule of the majority.

The hack makes the re-use of coins that were already spent or transferred to other wallets possible, thus, implying that the new transaction history does not indicate the creation of crypto coins out of nothing.

This process lets the previously confirmed transactions be reversed, or ongoing transactions are voided to give way to a new transaction history. However, this can mean the loss of coins held by an original owner to recognize a new holder based on the new transaction history.

The crude attacks may not prove to be direct assaults on Blockchain, but they can occur merely because of human errors. The failure of using strong passwords, two-factor authentication, and other security measures all fall under human errors.

In 2018, the51% attack against the Verge blockchainwas possible because there existed a flaw in the Verge blockchain protocol, making it possible to generate a more extended version of the Blockchain in a short time.

Due to the extreme challenges, the 51% attack poses, the cybercriminals steal bitcoin and other coins with their usual attack methods instead where social engineering and malware are usually involved.

To cite an example of asocial engineering attack, in the year 2013, Bitcoin was attacked wherein, 4,100 coins were stolen from the now-defunct digital wallet Input.io. This attack has since then put Input.io out of commission. Also, it was reported that this happened as the attacker was successful in deceiving the sites owner to give details required for a password recovery request via email.

The most popular usage of malware software involves a clipboard hijacker.Attackers steal login credentials and access online wallets by employing screenshot takers and key-loggers. Few of them also use compromised crypto-trading add-ons written in JavaScript. And few others might also use slack bots, which sends fake notifications about non-existent wallet issues to convince the target to enter their private keys.

The Cryptocurrency security doesnt possess perfection. But, the use and further development of the new class of digital assets cannot merely be disrupted or discouraged because of the few security issues. As cited in the examples, most of the weaknesses of crypto security is due to the human factor, the failure to secure personal crypto wallets. Lastly, the hackability of Bitcoin and other cryptos is possible, but there exists no strength in this reason to give up on the idea of a decentralized currency.

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Cryptocurrency Hackability, All That One Needs to Know - The Coin Republic

With markets open 24 hours a day and mobile trading platforms readily available, foreign exchangeis one of the easiest forms of trading in practical terms. However, the relentlessness of market fluctuations can make crypto & forex trading appear intimidating for beginners. That volatility is a double-edged sword; while the volatility is what provides traders with plenty of opportunities for profit, market swings can also take investors by surprise.

Fortunately, there are several ways that a trader can prepare themselves for forex trading. By practicing with a demo account, identifying an area of expertise, and evaluating how past events have affected the markets, a newcomer can start their forex trading career with confidence.

While reading a detailed guide to trading may give you an idea of the terminology and the tools in the world of forex, the best way to learn is by doing. In a pursuit where bankroll management is paramount, you dont want to be chipping away at your trading budget while youre still learning the ropes.

This is why it is essential that a beginner experiments with a demo account before trading with real money. Using the IG trading platform as an example, setting up a forex demo account gives users access to $10,000 in virtual funds and to test trading strategies on the go via mobile apps. This gives wannabe investors an insight into how the trading world operates, so they gain an idea of what theyll need to do once they switch to their own money.

The demo account helps rookies to work out just what sort of trader they want to be. Try lots of different trading strategies to establish what fits with your style, while usingthe pressure-free environment to get to grips with identifying and analyzing market patterns. When there are market fluctuations in the real world, youll want to respond instantaneously for maximum benefits. A forex demo account is an effective way of making those responses more intuitive.

Forex market fluctuations are far more susceptible to real-world geopolitical and economic developments than cryptocurrencies, so it is important that traders only get involved with markets that they know well. Forex trading is based on currency pairs, in which you buy one currency and sell the other. One safe approach is to ensure that one of those currencies is your national currency, as you will naturally have greater familiarity with the market.

Source: Pixabay.

If you dont have one particular area of market knowledge, then it is advisable to focus on the most popular currency pairs at least to begin with. You may wish to start with any pair involving some combination of these major currencies: the US dollar (USD), the euro (EUR), the British pound (GBP), the Japanese yen (JPY), or the Chinese yuan (CNY).

These currency pairs have a higher liquidity, making iteasier for you to buy and sell at the optimum price. These currencies are also more prominent in global affairs, given the size of the economies they support and their nations significance in world trade. If you have in-depth knowledge of a more niche currency, then make that your focus. Market sentiment drives fluctuations in value, so knowledge of a currency like the Nigerian naira (NGN) or the Qatari rial (QAR) may help you anticipate changes in mood and swings in value.

Here are threeexamples of key globalevents in recent years that have provided (and may continue to provide) opportunities for traders.

This trade dispute has been dominatingglobal finance newssince the start of 2018. The dollar has largely performed strongly throughout, but any resolution to the dispute is expected to cause the USD to weaken. Better trade relations give China renewed power as an exporter, allowing the CNY to make gains against the dollar.

This was made clear in mid-January, when the dollar shed value following the signing of the Phase 1 trade deal. The USD closed play at 6.85957 against the CNY three days after the deal, its lowest ebb for six months. Future deals may provoke similar falls, so traders will be closely watching for indications that a deal is imminent. A weaker USD also generally spells good news for emerging economies, so investors may look at alternative currency pairs that provide opportunities to oppose the dollar.

The United Kingdoms departure from the European Union is expected to have long-term effects on the UK and economies in the eurozone. The protracted Brexit process is an example of how market sentiment causes fluctuations. Every time an orderly exit from the EU looked more likely, investors gained confidence in the GBP.

For example, the Conservative Partys securing of a majority at the end of 2019 reinvigorated the GBP, with traders more confident ofa definitive resolution to Brexit. Markets generally respond well to certainty, although traders will be monitoringthe UKs trade talks with the EU to determine what sort of economic relationship the two parties will have in the coming years. The product of those negotiations will cause further fluctuations anticipating the direction of those swings will be the challenge for the trader.

While the two aforementioned political sagas haveprecedents to help traders forecast future market swings, the coronavirus outbreak has presenteda unique and extreme threat to the global economy. Forex marketshave fluctuated wildly as the virus has spread across the world, withcaution naturallyadvised for traders ifpurchasing currencies during a global pandemic.

Once again it comes down to the question of certainty. If the world gains a firmer idea about the potential long-term impact of coronavirus, then investors can begin to act with more confidence. While many currencies have beenplunged into downward spirals, identifying the moment when the tide turns could allow a trader to gain exposureto a currency at a favorable price. This is why it is imperative that aspiring traders stay apprised ofnews emerging from every continent.

Experience fromother marketssuch as cryptocurrencies may give you the confidence to dive straight into forex trading. However, taking the time to develop trading strategies and get to grips with the mechanisms of forex will naturally give you a better chance of predicting market changes and capitalizing on those fluctuations.

Excerpt from:
How to Get to Grips with Cryptocurrency and Forex Market Fluctuations | ChainBits - ChainBits

TOKYO, April 9, 2020 /PRNewswire/ -- In the global field of blockchain technology, Chainbank has been recognized as the most reputable and advanced wallet platform in terms of technology sophistication and security. It holds the highest status within the industry. Chainbank provides its exclusive technology innovation only to mainstream crypto currencies such as BTC, BCH, ETH, etc., and simultaneously implements third-party cryptocurrency financial management.

After market research and analyzation of more than 5,000 cryptocurrencies world wide, Chainbank finds Fight to Fame BMS action star reality show FF Token to be the only one that realizes the three major functions: of Circulation, Trading and Wealth management. Within months of it appearance, FF Token has won the favors and support of successful and wealthy individuals in many countries around the world. Within 6 months, it has successfully signed contracts and LOIs with various royalties, presidential candidates, gambling giants, political figures, cryptocurrency community leader and celebrities within those countries that support cryptocurrency.It is important to note, in the crypto currency market, there is no Saturday or Sunday and there is no day or night. The trading volume has exceed 174 billion U.S. dollars every 24 hours. This number has doubled since 2019. FF Token is based on decentralization of blockchain. At this time, the emergence of the FF Token fully realizes the relationship between people and fight events, people and movies, and it has established industry standards.

It is worth mentioning that FF Token has been pre-sold in the cryptocurrency industry for less than 6 months, and the limited pre-sale price in more than 10 countries and regions has surged by 333% before being publicly listed. Of particular note, FF Token has successfully signed contracts with local gaming industry giants in various countries and regions, and its token has become playable currency in the form of an original "cryptocurrency as standard chip" cooperation model and action star reality show. The decentralized voting mechanism is used to implement FF Token's online player betting, ticketing and exchanging of derivatives. In some countries, due to the affirmation of the Fight to Fame BMS action star reality show FF Token, special national game licenses have been issued. Only FF Token has been issued and received an exclusive cryptocurrency online sports betting license. This is a new initiative and unprecedented in the global cryptocurrency industry.

InAsia, Latin America, and Africa, because of Fight to Fame BMS events,the original business model of Blockchain + Movies + Sports, some countries have awarded Fight to Fame BMS action star reality show special contribution awards. FF Token's global private placement limited pre-sale has already been 100% scheduled to be completed, and the publicly-sold Token, on the exchange, has also sold 60%. Once the FF Token is listed globally, the exchange will have limited to no tokens to provide. The tokens then can only be acquired from the original investors.

On these foundations, after rigorous review of the more than 5,000 cryptocurrencies in the market, Chainbank has accepted Fight to Fame BMS action star reality show FF Token as a mainstream cryptocurrency, in addition to Bitcoin, Bitcoin Cash, USDT, Ethereum, etc.This further reflects the extremely high valueof FF Token.

According to famous Chinese reporter Mr. Song, anyone in the US who wants to reach out to Fight to Fame BMS in terms of events and movies cooperation, he can contact George Kong at g.kong@fighttofame.com.

https://fight2fame.com/ http://chain-bank.net

View original content:http://www.prnewswire.com/news-releases/ff-token-is-designated-by-chainbank-as-the-only-token-wealth-management-product-in-the-global-cryptocurrency-industry-301039196.html

SOURCE Fight to Fame

Originally posted here:
FF Token is designated by Chainbank as the only token wealth management product in the global cryptocurrency industry - Benzinga

Reddit, a content aggregator website, is working on a blockchain-based points system to reward its communities.

Revealed by a Reddit user MagoCrypto, the so-called community points will feature a new subreddit system, giving extra benefits to the users of the platform.

The Most Diverse Audience to Date at FMLS 2020 Where Finance Meets Innovation

According to the post on the Cryptocurrency subreddit, the new rewards system is based on Ethereum blockchain.

Could Advanced Execution Engines Help Exploit Volatile Markets?Go to article >>

Confirming the prospect, a Reddit spokesperson said: We continuously experiment with ways to support communities on Reddit. In this instance, were working with one community to test a feature that represents a users involvement in a community. We value and seek out community feedback as we continue to explore features that engage our users and communities.

The spokesperson, however, did not say anything about the usage of Ethereum.

Reddit is one of the favorite platforms for crypto users with many subreddits for discussion on specific topics.

Now, the platforms pilot for a new rewards system is not an abrupt decision as it was mulling for the same for a while.

Points are a measure of reputation and contribution within a community. To highlight the most important members of a community, points balances will be displayed next to usernames on posts and comments in the subreddit, the FAQ section in the Reddit post detailed.

Reddit already awards Karma to its users for engagement on the platform, but that only shows the reputation of the user on the platform, nothing else. With the new rewards system, Redditors will have points with real value.

Users can spend Points to buy Special Memberships in their community. A special membership unlocks exclusive features in the community, the post detailed. The points are destroyed (burned), making everyone elses shares of Points go up. This ensures that buying memberships rewards the community as a whole.

See the original post here:
Reddit to Bring an Ethereum-Based Rewards System - Finance Magnates

Over the last several years, the cryptocurrency arena has been very hit or miss when it comes to security. For companies like Moon Pay, the notion of keeping customers, as well as their cryptocurrency stashes and their data, safe as possible is one that has taken serious precedence with executives.

The financial company has announced that it is bringing Nils Puhlmann a cybersecurity expert on board to serve as their new security advisor. The company says it has approximately 80 or more partner integrations to oversee in the coming weeks, and it wants to make sure everything goes as smoothly and as by the numbers as possible.

In a statement, co-founder and CEO of Moon Pay Ivan Soto-Wright explained:

At Moon Pay, we are building mission-critical infrastructure to accelerate cryptocurrency adoption. As we are mapping our goals for growth, it is essential that we prioritize security and privacy for our users and partners above all else. In Nils, we have a seasoned security executive who has built some of the strongest security teams at places like Twilio, Zynga and Electronic Arts, and we feel tremendously honored to have his guidance.

Cybersecurity threats in the cryptocurrency arena have become all too real. Just yesterday, Live Bitcoin News reported that foreign exchange company Travelex was forced to pay as many as 285 bitcoins worth approximately $4 million at the time to hackers that had infiltrated their systems and taken control of their users data.

The company initially reported that it was stuck dealing with software glitches, but later admitted to being subjected to malware. The attack had occurred in early January and the company had no choice but to pay up to get its networks back on track.

Moon Pay says that it has experienced an 80 percent surge in the number of customers who have bought or who are looking to buy cryptocurrencies. Executives claim this is due to the unforeseen economic turmoil that has been caused by the coronavirus.

Thus, digital assets are becoming far more mainstream, and something that popular and large needs to offer customers the highest level of safety possible. Nils Puhlmann explains:

The cryptocurrency space is still an evolving industry, and as we have seen in the past with cloud computing and the Internet of Things [IoT], security and privacy are imperative to its success and widespread adoption. Deploying mature security programs will be essential for every major player in the cryptocurrency world, and I look forward to guiding Moon Pay over its next phase of growth.

Since the Coincheck hack in early 2018, many crypto exchanges and related trading platforms are doing more to ensure they know who their customers are and to ensure anti-money laundering protocols are in place.

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Crypto Company Moon Pay Ups the Ante on Its Security Protocols - Live Bitcoin News