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Cryptocurrency Terminologies for Beginners
The rise of cryptocurrency is making a huge influence towards different businesses, companies or even simple individuals that supports the use of it in exchange of service, products, investments, etc. Number of users increases seemingly. However, beginners often get confused with the jargons, known only in the said network. In this article, I will be sharing basic terms that exists in cryptocurrency world: Cryptocurrency - is an internet-based, digital/virtual form of currency that is secured by cryptography (which makes it almost impossible to counterfeit) and operates independently from central bank. These include Bitcoin, Bitcoin Cash, Etherium, Ripple, Litecoin, etc. Cryptography - process of securing communication and data in various electronic transactions (such as account name, account number, amount, digital signature, etc.) by converting plain texts to unintelligible texts and vice versa. It is also be utilized for user authentication. Blockchain - refers to a growing list of record or the digital information (blocks) stored in public database (chain). Wallet - or software wallet, is where you “store” your cryptocurrency. It is basically a digital program/system/site/app that store public and/or private keys used to track ownership and transactions of your cryptocurrency. Example: Coinbase, Trust Wallet, Exodus Crypto Wallet, Coins.ph, Binance Wallet, etc. Wallet Address - is a destination associated with the software wallet where a user sends and receives cryptocurrency. Usually include a long series of letters and numbers. Example: qz8wlltmrj83mj2waw6rgaw9wtzqywuc5s3xqm67g7 Fiat Money - a currency that has actual value maintained; established as money; and backed up by the government. Example: US Dollar, British Pound, Philippine Peso, Japanese Yen, Euro, etc. Altcoin - or "alts"; refers to any cryptocurrency other than Bitcoin. ATH (All-time High) - it's when a cryptocurrency breaks its previous record price. FOMO (Fear of Missing Out) - refers to the strong urge or need to purchase a cryptocurrency when the price starts increasing rapidly. Mining - process of validation of transactions such as computers trying to solve blocks in a blockchain. Thus rewarding new cryptocurrency to successful user (miner). However, mining scams are rampant nowadays. Miners are always reminded not to provide private keys, deposits, etc to avoid these frauds. FUD (Fear, Uncertainty and Doubt) - this is the greatest risk for investors; A state of mind that often influence when and how crypto-enthusiasts make trades, purchase or hold onto their coins thus affects greatly in the actual prices/convertion rate of cryptocurrency. DeFi - short term for "decentralized finance" which includes digital assets, protocols, smart contracts, and dApps; is a financial software built on the blockchain that can be pieced together like Money Legos. Etherium is the primary choice for DeFi Application. Stablecoin - refers to a class of cryptocurrency that attempts to stabilize coin prices, backed by reserve assets. Reserve Assets - financial assets denominated in foreign currencies, held by central banks; must be readily available for monetization and/or must be an external physical asset. Example: US Dollars, Gold. That's all for now, I hope this information might help especially beginners who still lack knowledge regarding these terms. Continue supporting #Cryptocurrency
Hi Bitcoiners! I’m back with the 30th monthly Bitcoin news recap. For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month. You can see recaps of the previous months on Bitcoinsnippets.com A recap of Bitcoin in May 2019 Adoption
Dear Pundians, July was definitely a whirlwind! Over the last month, we hit several milestones — from being Samsung’s first fintech app in its blockchain ecosystem to organizing meetups in five cities across the globe, and so much more in between. Allow us to walk you through the specifics. Product DevelopmentTelegram integration and crypto gift feature We are very excited to announce that X Wallet 2.0 is now available on Android and iOS. Using this version, you can integrate your Telegram contacts and send or receive crypto gifts. To make things easier, we set up an official Telegram chat group (https://t.me/pundixgift) for users (it’s currently the top Telegram chat according to combot.org). For more information, check out our feature. Integration support for Verifone X990 US-based Verifone welcomed Pundi X with the integration of its X990 with our XPOS module. Through this partnership, users now have access to a wider network of retailers accepting cryptocurrency payments. Read more about it here. Welcoming Samsung Blockchain Wallet We’re excited to be part of Samsung’s growing adoption of blockchain technology into their products. The Samsung Blockchain Wallet enables the use of decentralized apps on Samsung smartphones, making it easier for blockchain technology to penetrate the mainstream market. We are definitely privileged to be part of this important initiative. On top of it all, our platform now supports 12 tokens, including native coins of three public chains, which are BNB, XEM and QTUM. Merchant Adoption and PartnershipKapytal exchange, Mexico Last July 4, we were at the Blockchain Summit Latam 2019 in Mexico City to seal our partnership with Kapytal, a Mexican digital asset exchange. They will be the first official distributor for Pundi X in Mexico, having launched operations on August 1. Not only do they distribute XPOS and XPass cards, they also provide liquidity for merchants willing to cash out Mexican pesos to their bank accounts. São Paulo, Brazil Pundi X continues to make waves in Brazil, with five new newsstands adopting the XPOS in the center of São Paulo. Lounge X, Korea Robot-powered café Lounge X located in Seoul, South Korea, now welcomes crypto payments via XPOS. It’s a highly advanced café with a robot barista and a robot server, and the addition of XPOS to its tech-drive operations is definitely a plus for the café and Pundi X. The restaurant of the future is now here. Event and communitiesXBlockchain Meetups: Hanoi, Tokyo, Johannesburg, Dubai, and Istanbul In July, we’ve co-organized a series of XBlockchain meetups to spread the awareness of the blockchain technology, Function X and Pundi X development progress. The purpose is to seek the collaboration opportunities with various blockchain communities and businesses. July 4: Pundi X partnered with Coin 98 and Function X for a XBlockchain Meetup at the VCC Exchange in Hanoi, Vietnam. July 6: Pundi X hosted a XBlockchain Meetup with Function X, Kyber Network and VeChain Japan Community in Tokyo, Japan. July 20: Pundi X together with the Dosh Exchange and the Project Tubu successfully finished a XBlockchain Meetup in Johannesburg, South Africa. July 24: Pundi X met with major partners at the Astrolabs XBlockchain Meetup Dubai. July 30: Last XBlockchain Meetup in July was held in Istanbul, Turkey with Koophub. Thank you for our partners and those who participated the meetups! Mobile 360 Africa Pundi X CEO and Co-Founder Zac Cheah was at Mobile360 Africa last July 16 to share his insights on the topic, “How Blockchain Steers Technology of The Future” and showcase the blockchain technology that Function X is capable of. Held in Kigali, Rwanda and organized by GSMA, Mobile360 highlighted key initiatives in the mobile landscape and in relation to the UN’s Sustainable Development Goals. Afro Asia Fintech Festival 2019 In the same week of Mobile 360 Africa, the Pundi X team also went to Nairobi with the Monetary Authority of Singapore to join Afro Asia Fintech Festival from July 15–16. We met important ministers, regulators, bankers, and enterprises to discuss collaborations for the development of the fintech landscape in Africa. World Cities Summit Joao Victor Mendes, LATAM Country Manager of Pundi X shared what our team has been up to at the World Cities Summit | Mayors Forum 2019 in Medellin, Colombia on July 13. Blockcrypto Brazil Joao was also at Blockcrypto Brazil to share how Function X works. At the conference, we set up a booth where participants experienced how to top up Bitcoin using XPOS. MakerDao, DigiX and Pundi X joint meetup in Seoul We also held a successful joint meetup between MakerDao and DigiX in Seoul on July 13, as a way to strengthen our community in the city. Binance/Pundi X Meetup in Medellín Binance met with Pundi X last July 10 in Medellin, Colombia, as a way to further the partnership and conversation between the two companies. CommunityAMAQ2 Quarterly report We are grateful to those who joined our AMA Session with Zac Cheah, who was happy to report some of Pundi X’s highlights over the last quarter and announce our upcoming activities. Binance Italian Telegram Group We’re also joined AMA hosted by the Binance Italian Telegram Group and gave out 3,000,000 NPXSXEM as crypto gifts to those who participated. Pink Care Token Alliance with Binance Charity Foundation Period poverty is a reality, that’s why Binance Charity Foundation initiated Pink Care Token (PCAT) a stablecoin aimed at sponsoring feminine hygiene products for young women in the underdeveloped world. Pundi X has joined PCAT to help Binance Charity Foundation to achieve the goal. CryptoGift Drop Event To celebrate NPXSXEM migrating to Binance Chain, we have held five days of CryptoGift Drop Even from July 17–21 by giving out a total of 14,000,000 NPXSXEM to the selected Telegram groups. Q2 Removal of 34 billion of NPXS and NPXSXEM tokens On July 14, we completed the removal of 5 billion NPXS and 29 billion NPXSXEM tokens for Q2 2019. We’ve included the amount of NPXS and NPXSXEM converted to FX tokens in May. The conversion of NPXS and NPXSXEM was completed on July 15 and will continue removing these converted tokens per scheduled. Below is the overview of the conversion result. Migration to Binance Chain and DEX listing proposal submission Announced on June 21, the migration of NPXSXEM BEP2 tokens has started in July. The current total supply of NPXSXEM is 67,725,825,819.45 and will be swapped 1:1 to the Binance Chain, becoming BEP2 tokens. Meanwhile, we also submitted NPXSXEM listing on Binance DEX proposal. Thanks to the support of our community, the proposal has received over 3500+upvotes. As the voting also requires Binance Chain Validators, we are awaiting for the listing result at this moment. Full:https://medium.com/pundix/monthly-report-a-recap-of-activities-in-july-2019-7585e1488601
Tim Draper offers advice to Argentina to legitimize the bitcoin
https://preview.redd.it/2nhceee0oko21.png?width=1080&format=png&auto=webp&s=f1a3d743bce4394231b60204a134fa8414dc2880 Tim Draper's advice to the President of Argentina to legitimize the transaction from (BTC), in order to improve the economic situation in the country, according to reports from Cointelegraph en Español, on March 22. An american investor is said to have met with the President of Argentina Mauricio McRae, on March 20, to discuss the Economic Outlook for Latin America country. During the meeting, Draper spoke on the potential of emerging technologies such as Blockchain and Digital currencies, and their ability to improve key problems in Argentina's economy including falling Argentine peso (ARS). Following the meeting, Draper explained his Pro-digital currency in an interview with Maria Julieta Rumi, stating that he believed the bitcoin and blockchain represent a revolution bigger than the Internet, Draper said that The time now is to embrace technology in Argentina, arguing that this will save changes in banking and trade and financial systems. In the interview, Draper also reiterated his bullish on bitcoin, predicting that 250,000$ worth between 2022 and 2023, will be 5 per cent of global share for all markets. He explained that once people can use bitcoin easily, just like pesos or dollars, they will choose the bitcoin because it's decentralized and open and totally useless friction and universal. Meanwhile, Argentina recently to adopt new developments in digital currency industry and blockchain In early March, the Government of Argentina to participate in investing in blockchain projects backed by Binance-Labs and cryptocurrencies in Latin America LatamEx. In February, Argentina to settle export deal in the bitcoin where sold pesticides, fumigation products worth 7100$ to Paraguay. The purchase price was paid in the bitcoin and then converted to Peso to settle accounts with the source.
Good morning all. I'm technically not 1 month in crypto but I'm planning to do this every month just to give people an idea. Forgive me in advance, I am not a good storyteller so baka in the end nagsulat ako ng pagkahaba-haba, wala rin kayong nakuha. Ok. Started thinking with what to do with some funds. I decided between stocks at COL or get into crypto. I chose the latter kasi less papers at sa tingin ko less din ang processing time. Nakatulong din na hindi pa covered by law ang cryptocurrency (I think, hehe) so I got into crypto. This all started 2nd week of the month. I made an account in coins.ph. Verified until level 2 (Level 1 is 2,000 deposit a day while Level 2 is 50k a day). While in the process, I started putting money into it. My end goal was to place at least gradually investing $1000 by the end of the month in my other account. Made also an account in Binance. All funds in my coins.ph this is where it was converted to Bitcoin (BTC). This is like a marketplace where I buy other currency using BTC. When I started, state of crypto world was I'd considered good. BTC was hovering around 600k pesos at the time. Also started to lurk in CryptoCurrency. Funfact. This subreddit was one of the fastest growing subreddit last month. I'm a noob so I didn't research on the coins yet. I based my alt coins based on the most talked about and at the time I would consider affordable (Anything less than 5$, 1$) Divided all my BTC money to 3 different coins. After that I monitored my money by the hour, even by the minute. A coin changes its amount almost immediately. If you refresh everytime, it will change. It is that fast. 3rd week of the month was the hardest for me to look at. Almost every coin dropped in price. BTC dropped in the 500k range (I think it reached 490k not sure). I lost around $100-150 at the time on one day. But I just kept hodling on to my coins as that was everyone was suggesting and I was aware how quickly price changes in the world of crypto. After a few days, my money started slowly rising until 1 time I looked at it I made $100. So in a span of two weeks, from being 200 down I made 300 up in days. I knew then that this could be a good investment for me. As long as I picked out carefully the good coins. I'll be getting a good return. But as of this morning, when I looked st my profile. I invested $100, I'm hovering from $900-950. Note: There are 2 prices usually displayed your BTC value and its current conversion. If I based on BTC value, I think I got a 5-10% increase in that but BTC right now but I looked at BTC now and it's at 540k hence the drop. Tldr: 400 -> 300 -> 250 -> 400 -> (add 200) 600 -> (add 400) -> 1000 -> 1100 -> 900. As I remember it. Some parts are missing. That's all. Thank you. Note: Invest if you think you can handle how things quickly changes. Otherwise, don't. 😜
What is Bitcoin? Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems. It’s the first example of a growing category of money known as cryptocurrency. It was created in 2009 by a software developer called Satoshi Nakamoto. The idea was to produce a currency independent of any central authority, transferable electronically, more or less instantly, with very low transaction fees. This is a video that explains it better: Bitcoin Why are a lot of people talking about it? Bitcoin's price skyrocketed in 2017. From around $1,000 per Bitcoin, it is now $11,000. Alternative coins (or altcoins), like Ethereum and Litecoin, went up by as much 1000% this year as well. I have a lot of friends who became millionaires because of Bitcoin just this year. How do I buy Bitcoin?
Download the coins.ph app from the app store. If you find this guide useful, you can use my referral code. here If you finish the level 2 verification, we'll both get 50 pesos.
From there, you can load money to your account thru 7-11 outlets or thru banks. You can convert the Peso you deposited into Bitcoin in your account. Note that the price of Bitcoin fluctuates throughout the day, so it is best to convert when the price of Bitcoin is low. If you want to withdraw your money from the app, you can do so via Banks, GCash, etc.
There are also similar apps, like Abra, or physical stores like Moneybees, but I have no experience using them. I believe you can buy Ethereum in Abra and Moneybees. How do I earn money? You can keep your Bitcoin in your coins.ph account, HOLD, and wait for the price of Bitcoin to go up. There was this person who posted here in reddit about a few weeks ago that he earned 50k from an initial investment of 35k. I started a few months ago and earned double my initial investment. If you want to trade, you can transfer your bitcoin from your coins.ph account, to exchanges like Bittrex, Binance, or Poloniex. There are other exchanges, but these are the ones I'm familiar with. Once you've transferred your Bitcoin there, you can buy other coins. Trading is very risky and I do not recommend it if you do not have prior experience. You can lose a lot of money overnight or even in a few minutes. https://poloniex.comhttps://www.binance.comhttps://www.bittrex.comhttps://www.coinbase.com Stocks, or Bitcoin? The returns if you invest in Bitcoin are huge, potentially. The coins are limited in number, it is becoming harder and harder to mine, and with more people becoming aware of Bitcoin and wanting to invest in it, it will drive the price up. Bitcoins and other cryptocurrencies can go up by 10%, 20% or even 100% or higher overnight. However, you can lose just as much. The prices are very volatile that one good or bad news can affect its price by a lot. Also, people argue that Bitcoin has no intrinsic value. For stocks, the value is determined by the performance of the company, its assets, earnings, etc. Bitcoin doesn't have that. The price is determined by the demand for it. The banks hate Bitcoin and other cryptocurrencies for good measure and have been calling it a "bubble". I'd still say that diversifying your investment is still the best way to go. Bitcoin's price is too high. What can I do? You don't have to buy 1 bitcoin for 550,000 pesos. You can buy .5, .05, or even .001 Bitcoin. You can also buy other cryptocurrencies. The top cryptocurrencies after Bitcoin are: Ethereum, Bitcoin Cash, Ripple, IOTA, Dash, Litecoin, Bitcoin Gold, NEO, etc. If you want to own other coins, transfer your Btc to an exchange, and you can buy the other coins there. You can track your monies by downloading the Blockfolio app. Trust me, there's no better feeling than waking up in the morning to see that you've earned a lot of money while sleeping. You can check them by going to https://coinmarketcap.com. What is Mining? Imagine depositing money in a bank. The bank's database stores the information that you deposited the money and how much you have. In Bitcoin, People are sending bitcoins to each other over the bitcoin network all the time, but unless someone keeps a record of all these transactions, no-one would be able to keep track of who had paid what. The bitcoin network deals with this by collecting all of the transactions made during a set period into a list, called a block. It’s the miners’ job to confirm those transactions, and write them into a general ledger. They are rewarded with the transaction fees and coins. I personally don't mine, but from what I've gathered, a "mining rig" costs between 100k-180k pesos depending on the number of video cards. The average ROI is around 4-6 months.
About Binance. Binance is a cryptocurrency exchange launched in 2017 and currently based in Malta. Since early 2018, Binance is considered the biggest cryptocurrency exchange in the world in terms of trading volume. Binance services are offered at one of the lowest rates of fees compared to other cryptocurrency exchange services. Interestingly ... Find the latest Binance Coin to Bitcoin exchange rate and get BNB/BTC historical conversion chart, currency converter, forecast, monthly averages and more. BTC [Bitcoin] BUSD [Binance USD] 0.01 Bitcoin = 107.831244 Binance USD: 0.1 Bitcoin = 1078.312 Binance USD: 1 Bitcoin = 10783.12 Binance USD: 2 Bitcoin = 21566.25 Binance USD: 3 Bitcoin = 32349.37 Binance USD: 5 Bitcoin = 53915.62 Binance USD: 10 Bitcoin = 107831 Binance USD: 20 Bitcoin = 215662 Binance USD: 50 Bitcoin = 539156 Binance USD: 100 ... Binance Coin - Philippine Peso Chart (BNB/PHP) Conversion rate for Binance Coin to PHP for today is ₱1,520.88. It has a current circulating supply of 148 Million coins and a total volume exchanged of ₱19,638,050,258 This Binance Coin and Philippine Peso convertor is up to date with exchange rates from November 2, 2020. Enter the amount to be converted in the box to the left of Binance Coin. Use "Swap currencies" to make Philippine Peso the default currency. Click on Philippine Pesos or Binance Coins to convert between that currency and all other currencies. 1 Bitcoin is 520.711292 Binance Coin. So, you've converted 1 Bitcoin to 520.711292 Binance Coin . We used 0.001920 International Currency Exchange Rate. It’s simple - all you need to do is enter an amount in any fiat currency of your choice - and our Binance Coin converter will show you the value of that amount in BNB. You can type in any amount (how many bits and numbers that you want), and our Binance Coin converter will always give you a 100% accurate display of the (converted) BNB value in real-time. How fast is the Binance Coin ... Our real time Binance Coin Bitcoin Binance converter will enable you to convert your amount from BNB to BTC. All prices are in real time. It’s simple - all you need to do is enter an amount in any fiat currency of your choice - and our Binance converter will show you the value of that amount in BUSD. You can type in any amount (how many bits and numbers that you want), and our Binance converter will always give you a 100% accurate display of the (converted) BUSD value in real-time. Cryptocurrency Converter Calculator. Bitcoin (BTC) United States Dollar "$" (USD) 1 Bitcoin (BTC) = United States Dollar "$" (USD) Refresh Save This Conversion. Popular Cryptocurrency Conversions. BTC to USD; BTC to AUD; BTC to BRL; BTC to CNY; BTC to GBP; BTC to INR; BTC to JPY; BTC to KRW; BTC to RUB; ETH to USD ; ETH to AUD; ETH to BRL; ETH to CNY; ETH to GBP; ETH to INR; ETH to JPY; ETH to ...
Transferring Money Blockchain(bitcoin) to coins.ph(peso ...
💥Sign up to Binance and Cut your Fees in Half Here https://www.binance.com/?ref=11093903 MUST WATCH *****UPDATED 2018 VERSION HERE*****... A question has been raised about Binance trading by one of the viewers. Herakles thank you for your question, I hope this helps. Fish. 👍 Thank You Very Much ... New Binance exchange tutorial 2020. How to deposit and withdraw, how to use the exchange itself and we also discuss some more features of the Binance platfor... Saiba como converter saldos de moedas para Bitcoin no site da Binance rapidamente. Receba Alertas de Valorização de Bitcoin e Moedas Digitais todos os dias: ... Steps on how to convert pesos to Bitcoin. 1. Sign up using url ( https://coins.ph/m/join/pz4e1n ) 2. Fill up all necessary details. 3. Verify account by open... Once you get your cryptocurrency into Binance it's a little bit of a process to get it out. We walk through the process of selling your altcoins for Litecoin... Transferring Money Blockchain(bitcoin) to coins.ph(peso) A beginner's guide for cryptocurrecy or digital money *Create bitcoin wallet : https://youtu.be/1HzY...