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How to purchase and exchange your litecoin! (longer read)
This post will show you the best ways to buy litecoins using many different payment methods and exchanges for each method. Before you start, make sure you have a good litecoin wallet to store your LTC. NEVER store your litecoins on a crypto exchange.
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Buy Litecoin with Credit Card or Debit Card
Let’s dive into some of the exchanges supporting Litecoin credit card purchases. These exchanges are our favorite ways to buy.
Coinbase is the easiest way to buy litecoins with a credit card. Coinbase is available in the United States, Canada, Europe, UK, Singapore, and Australia. The fees will come out to 3.99% per purchase. Here is a good video that can help walk you through the process of buying on Coinbase, although it’s fairly easy.
Coinmama recently added the ability to buy litecoin directly on the platform. Users from nearly any country in the world can use Coinmama to buy litecoins. Coinmama has some of the highest limits among credit card exchanges.
BitPanda is based in Austria and is a crypto brokerage service. You can buy using a credit card from most European countries.
CEX.io is based in the UK and is one of the oldest crypto exchanges online. CEX.io supports litecoin and its users from nearly anywhere in the world can buy litecoin with credit card on the platform.
Buy Litecoin with Bank Account or Bank Transfer
Coinbase is the easiest way to buy litecoins with a bank account or transfer. Coinbase, like is is for credit cards, is available in the United States, Canada, Europe, UK, Singapore, and Australia. Coinbase is one of primary exchanges used to buy Litecoins. Americans can use ACH transfer (5–7 days wait), and Europeans can use SEPA transfer (1–3 days wait). The fees will come out to 1.49% per purchase.
BitPanda is based in Austria and is a crypto brokerage service. You can buy using SEPA transfer from most European countries. You can also use SOFORT, NETELLER, or GiroPay.
CEX.io also supports litecoin buys via bank account. This is via wire transfer for US citizens, SEPA for Europe, and SWIFT for the rest of the globe.
Binance is now one of the largest if not the largest cryptocurrency exchange in the world. It supports bank and card purchases of Litecoin as well as Litecoin trading pairs with Bitcoin and Etehreum.
Get a Litecoin Wallet
Before we move onto other options: Never store your litecoins on an exchange! Always withdrawal your litecoin to an offline cryptocurrency wallet like the Ledger Nano S or any other wallet that you control. The Ledger Nano S and TREZOR are the best options for secure storage.
Other Methods to Buy Litecoin
If you don’t have a card or want to avoid the high fees, you can use the following methods to buy Litecoin as well. Find out which one works best for you.
Buy Litecoin with PayPal
Unfortunately, there is no easy way to buy Litecoin with PayPal. Other sites will tell you that cex allows for this, but that is no longer the case. You can, however, now use eToro to buy Litecoin, unless you live in the United States. If you live in the US, the only way to buy Litecoin with Paypal is to buy Bitcoin using paypal, and then use the Bitcoins to buy Litecoin. You can easily buy Bitcoin using Paypal on Local Bitcoins. Once you have Bitcoin, you can use an exchange like Coinbase Pro to swap the Bitcoin for Litecoin.
Buy Litecoin with Cash
There is no good way to buy litecoins with cash. LocalBitcoins is the most popular way to buy bitcoins with cash, and it does not have Litecoin support. Other popular cash to Bitcoin exchanges like BitQuick and Wall of Coins also do not support LTC. So you will have to first buy bitcoins with cash then exchange them for LTC using the method described below. The same goes for Bitcoin ATMs. Most do not support Litecoin. So if you want to buy litecoins at a Bitcoin ATM you first have to buy bitcoins and then trade the BTC for litecoins.
Buy Litecoin with Bitcoin
If you already have Bitcoins then it is VERY simple to convert some of your BTC to litecoins. You just need to find an exchange with the LTC/BTC pair, which is most exchanges since LTC/BTC is a very popular pair to trade.
Buy Litecoin with Skrill
BitPanda, mentioned above, also accepts Skrill payments for LTC. The fees will vary and are simply included in your buy price.
Cryptmixer is probably the fastest way to convert BTC to Litecoin. You just enter the amount of LTC you want to buy, and give them a LTC address. Then they will tell you how much BTC to send to their address. Once your BTC is sent, you will have LTC delivered to your wallet very shortly after.
Buy Litecoin with Ethereum
Ethereum has experienced a massive price rise. Nearly a year ago it was $10, and now at over $500, many want to move some of their ETH gains into other coins like Litecoin. Litecoin has very good liquidity, and is very popular among traders especially in China. So this guide is going to show you how to buy litecoins with Ethereum. We will show some of the best exchanges you can use, and the pros and cons of using different types of exchanges over the other.
Cryptmixer is one of the most unique exchanges, and also one of the fastest ways to convert your ETH to LTC. With Cryptmixer you do not even need to store your money with the exchange, meaning you are at very little risk of getting your funds stolen. With Cryptmixer you simply specify the amount of LTC you want to buy, and specific the address to where your litecoins should be sent and within 30 minutes you will have LTC delivered to your wallet.
Poloniex is the world’s largest altcoin exchange. However, there is a huge downside to using Poloniex to convert your ETH to LTC: Poloniex does not have a LTC/ETH market, meaning you have to first trade your ETH to BTC, and then trade your BTC for LTC. While this method works, you will have to make multiple trades and also pay fees twice.
Shapeshift is basically the same as Cryptmixer, and was actually the first company to come up with the concept of an exchange that does not hold your own funds.
Frequently Asked Questions About Buying Litecoin
Many of you may still have lots of questions about how to buy Litecoin. Odds are we have answered almost any question you could think of below. We will aim to answer many of the most common questions relating to buying Litecoin.
Why are there limited options to buying Litecoin using other altcoins?
The issue in all crypto markets is liquidity. As the space gets bigger, the liquidity also gets better. But as of now, the only VERY liquid cryptocurrency is Bitcoin. So exchanging two altcoins between each other is often harder than if BTC was involved on one side of the trade.
How much is a Litecoin worth?
Like all currencies, the value of Litecoin changes every second. The value of Litecoin also depends on the country you are in and the exchange you are trading on. You can find the most up to date price on Coinbase.
How do I buy Ripple (XRP) with Litecoin?
The best way to buy Ripple using Litecoin is to either use a non KYC exchange like Cryptmixer or start an account on Binance or Coinbase Pro and sell your Litecoin for Ripple. Look for LTC/XRP trading pairs, and make your trade.
How long does Litecoin take to confirm?
Litecoin blocks are added ever 2 and a half minutes. That means you should get one confirmation every two and a half minutes. This can vary if it takes miners longer to discover a block, but the difficulty of the finding a block should change proportionate to the hashing power on the network so that a block gets added approximately every 2.5 minutes. If you are trying to send money to a merchant, they may require more than one confirmation before they send you products. If you are depositing on an exchange, they may also require three or more confirmations before they credit your account.
How many Litoshis make one Litecoin?
one hundred million (100,000,000) Litoshis make one (1) Litecoin.
Where do I store Litecoin?
The best place to store litecoin is on a hardware wallet. You can find the best one for you on our page dedicated to hardware wallets.
When is the Litecoin halving?
The expected date of the next Litecoin block reward halving is August 7th, 2023.
Why can litecoin take so long to buy?
Litecoin can take long to buy because the legacy banking system is very slow. If you are buying with another cryptocurrency, you will see how fast it is to buy! Bank transfer in the USA, for example, take about 5 days to complete. So any purchase of Litecoin made with a US bank transfer will take a minimum of 5 days.
How do I buy Litecoin with Paypal?
Unfortunately, there is no easy way to buy Litcoin with PayPal. Other sites will tell you that cex allows for this, but that is no longer the case. You can, however, now use eToro to buy Litcoineum, unless you live in the United States. If you live in the US, the only way to buy Litcoin with Paypal is to buy Bitcoin using paypal, and then use the Bitcoins to buy Litcoin. You can easily buy Bitcoin using Paypal on Local Bitcoins. Once you have Bitcoin, you can use an exchange like Cryptmixer to swap the Bitcoin for Litcoin.
Can you buy partial litecoins?
Yes, litecoin, like Bitcoin, is divisible to many decimal places so you can buy 0.1 LTC, 0.001 LTC, etc.
Can you sell litecoin?
Yes, you can sell LTC on most of the exchanges mentioned above. The fees, speed, and privacy is the same in most cases.
Can anyone buy litecoins?
Anyone is free to buy litecoins, as long as you find an exchange that supports your country. Most cryptocurrency wallets do not require ID to sign up so you can always make a wallet and get paid in litecoin, too.
Which payment method is best to use?
For speed, credit card will likely be fastest. For larger amounts, bank transfer is best. For privacy, it’s best to buy bitcoins with cash and then trade for litecoins using Cryptmixer or Shapeshift.
Is it better to mine or buy litecoins?
If you have cheap electricity, it might be worth it to mine litecoins. If you have solar power or just want to mine for fun then it could be worth it. Otherwise, it’s probably better just to buy. Mining is constantly changing and small changes in Litecoin price or electricity can greatly affect your profitability.
What should I do with my litecoins once I buy?
You should immediately move your litecoins into a secure wallet. You should never leave your litecoins on an exchange. There have been countless hacks in cryptocurrency since Bitcoin was created in 2009. Hundreds of thousands of people have lost money. So buy your litecoins, and then instantly send them into a wallet you control so you are not at risk of losing money to a hack or scam.
Crypto-Powered: Understanding Bitcoin, Ethereum, and DeFi
Until one understands the basics of this tech, they won’t be able to grasp or appreciate the impact it has on our digital bank, Genesis Block. https://reddit.com/link/ho4bif/video/n0euarkifu951/player This is the second post ofCrypto-Powered— a new series that examines what it means forGenesis Blockto be a digital bank that’s powered by crypto, blockchain, and decentralized protocols. --- Our previous post set the stage for this series. We discussed the state of consumer finance and how the success of today’s high-flying fintech unicorns will be short-lived as long as they’re building on legacy finance — a weak foundation that is ripe for massive disruption. Instead, the future of consumer finance belongs to those who are deeply familiar with blockchain tech & decentralized protocols, build on it as the foundation, and know how to take it to the world. Like Genesis Block. Today we begin our journey down the crypto rabbit hole. This post will be an important introduction for those still learning about Bitcoin, Ethereum, or DeFi (Decentralized Finance). This post (and the next few) will go into greater detail about how this technology gives Genesis Block an edge, a superpower, and an unfair advantage. Let’s dive in… https://preview.redd.it/1ugdxoqjfu951.jpg?width=650&format=pjpg&auto=webp&s=36edde1079c3cff5f6b15b8cd30e6c436626d5d8
Bitcoin: The First Cryptocurrency
There are plenty of online resources to learn about Bitcoin (Coinbase, Binance, Gemini, Naval, Alex Gladstein, Marc Andreessen, Chris Dixon). I don’t wanna spend a lot of time on that here, but let’s do a quick overview for those still getting ramped up. Cryptocurrency is the most popular use-case of blockchain technology today. And Bitcoin was the first cryptocurrency to be invented.
Bitcoin is the most decentralized of all crypto assets today — no government, company, or third party can control or censor it.
Bitcoin has two primary features (as do most other cryptocurrencies):
Send Value You can send value to anyone, anywhere in the world. Nobody can intercept, delay or stop it — not even governments or financial institutions. Unlike with traditional money transfers or bank wires, there are no layers of middlemen. This results in a process that is much more cost-efficient. Some popular use-cases include remittances and cross-border payments.
A few negative moments in Bitcoin’s history include the collapse of Mt. Gox — which resulted in hundreds of millions of customer funds being stolen — as well as Bitcoin’s role in dark markets like Silk Road — where Bitcoin arguably found its initial userbase. However, like most breakthrough technology, Bitcoin is neither good nor bad. It’s neutral. People can use it for good or they can use it for evil. Thankfully, it’s being used less and less for illicit activity. Criminals are starting to understand that transactions on a blockchain are public and traceable — it’s exactly the type of system they usually try to avoid. And it’s true, at this point “a lot more” crimes are actually committed with fiat than crypto. As a result, the perception of bitcoin and cryptocurrency has been changing over the years to a more positive light. Bitcoin has even started to enter the world of media & entertainment. It’s been mentioned in Hollywood films like Spiderman: Into the Spider-Verse and in songs from major artists like Eminem. It’s been mentioned in countless TV shows like Billions, The Simpsons, Big Bang Theory, Gray’s Anatomy, Family Guy, and more. As covid19 has ravaged economies and central banks have been printing money, Bitcoin has caught the attention of many legendary Wall Street investors like Paul Tudor Jones, saying that Bitcoin is a great bet against inflation (reminding him of Gold in the 1970s). Cash App already lets their 25M users buy Bitcoin. It’s rumored that PayPal and Venmo will soon let their 325M users start buying Bitcoin. Bitcoin is by far the most dominant cryptocurrency and is showing no signs of slowing down. For more than a decade it has delivered on its core use-cases — being able to send or store value.
At this point, Bitcoin has very much entered the zeitgeist of modern pop culture — at least in the West.
When Ethereum launched in 2015, it opened up a world of new possibilities and use-cases for crypto. With Ethereum Smart Contracts (i.e. applications), this exciting new digital money (cryptocurrency) became a lot less dumb. Developers could now build applications that go beyond the simple use-cases of “send value” & “store value.” They could program cryptocurrency to have rules, behavior, and logic to respond to different inputs. And always enforced by code. Additional reading on Ethereum fromLinda XieorVitalik Buterin.
Because these applications are built on blockchain technology (Ethereum), they preserve many of the same characteristics as Bitcoin: no one can stop, censor or shut down these apps because they are decentralized.
Just as tokens grew in popularity in 2017–2018, so did online marketplaces where these tokens could be bought, sold, and traded. This was a fledgling asset class — the merchants selling picks, axes, and shovels were finally starting to emerge.
I had a front-row seat — both as an investor and token creator. This was the Wild West with all the frontier drama & scandal that you’d expect.
Binance — now the world’s largest crypto exchange —was launched during this time. They along with many others (especially from Asia) made it really easy for speculators, traders, and degenerate gamblers to participate in these markets. Similar to other financial markets, the goal was straightforward: buy low and sell high. https://preview.redd.it/tytsu5jnfu951.jpg?width=600&format=pjpg&auto=webp&s=fe3425b7e4a71fa953b953f0c7f6eaff6504a0d1 That period left an embarrassing stain on our industry that we’ve still been trying to recover from. It was a period rampant with market manipulation, pump-and-dumps, and scams. To some extent, the crypto industry still suffers from that today, but it’s nothing compared to what it was then.
While the potential of getting filthy rich brought a lot of fly-by-nighters and charlatans into the industry, it also brought a lot of innovators, entrepreneurs, and builders.
The launch and growth of Ethereum has been an incredible technological breakthrough. As with past tech breakthroughs, it has led to a wave of innovation, experimentation, and development. The creativity around tokens, smart contracts, and decentralized applications has been fascinating to witness. Now a few years later, the fruits of those labors are starting to be realized.
I know that for the hardcore crypto people, what we covered today is nothing new. But for those who are still getting up to speed, welcome! I hope this was helpful and that it fuels your interest to learn more. Until you understand the basics of this technology, you won’t be able to fully appreciate the impact that it has on our new digital bank, Genesis Block. You won’t be able to understand the implications, how it relates, or how it helps. After today’s post, some of you probably have a lot more questions. What are specific examples or use-cases of DeFi? Why does it need to be on a blockchain? What benefits does it bring to Genesis Block and our users? In upcoming posts, we answer these questions. Today’s post was just Level 1. It set the foundation for where we’re headed next: even deeper down the crypto rabbit hole. --- Other Ways to Consume Today's Episode:
We have a lot more content coming. Be sure to follow our channels: https://genesisblock.com/follow/ Have you already downloaded the app? We're Genesis Block, a new digital bank that's powered by crypto & decentralized protocols. The app is live in the App Store (iOS & Android). Get the link to download at https://genesisblock.com/download
If you are planning to place assets into cryptographic types of cash like Bitcoin or Ether, in any case, you do not understand where to start, this Gemini exchange review will help you with choosing. Gemini Bitcoin Exchange Review 2020 You need yourself to be a productive advanced cash intermediary. By what technique will you become? To help you here's an exchange review, which will give every one of you the low down information required for a powerful enthusiasm for one of the most trusted in stages the Gemini Exchange. We should find all the more right currently review Gemini Review : About Gemini Exchange Twin kin developed Gemini Winklevoss in the year 2014. The Gemini exchange is arranged in New York. The Gemini crypto exchange is open in essentially all US states, similarly as UK, Canada, Puerto Rico, Singapore, South Korea, and Hong Kong. In 2016, Gemini transformed into the world's recently approved Ether exchange. It positions 82th greatest exchange on earth as showed by 24-hour volume on Coinmarketcap. While Gemini Bitcoin and Gemini Ethereum trading volumes are high, the exchange is endeavoring with all undertakings to fight with those stages offering a predominant piece of the cryptographic types of cash, for instance, Binance. Reinforced Currencies Gemini offers crypto to fiat portions and a BTC/ETH grandstand, which makes it a quick contender to any similarity to Coinbase, Bitstamp, and Kraken. At present, it is one of the most respected and ensure about exchanges open. This is in light of the fact that it has more features to help secure customers against developers. Also, it is one exchange for the CBOE Bitcoin future settlement. Gemini Mobile application is directly available, which is amazingly basic and versatile to use. How to use Gemini? https://preview.redd.it/qnowl19fwaj41.jpg?width=720&format=pjpg&auto=webp&s=1819eeac9d4c44681c0afe616d387b60a78f7c8e 1) Go to the official site and snap the "Register" tab on the upper right corner. Enter your name, email address, and mystery word for your own record. While affirming your email address, it is critical to : Affirm your email address and enter both your region and phone number, by then you can set up 2-Factor Authentication (2FA) which will be an additional layer of security to your record. Incorporate your monetary equalization. Starting at now, Gemini recognizes simply bank moves and wires, as a methodology for putting away holds. To check your record, move your organization ID proof. This will help you with executing and trade US Dollars. Moreover, it will help Gemini with as per the Bank Secrecy Act (BSA) and Anti Money Laundering (AML) rules. The affirmation time may run from a couple to a couple of days. Subsequent to completing of all the above strategies, you can use your record for financing. gemini crypto exchange 2) Deposit Currency In the Menu, click Transfer Funds, by then find a good pace Bank Transfer and Exchange. Enter the whole you have to store here. Moreover, note $500 consistently is the most extraordinary most extreme for Bank moves. 3) Trading Bitcoin and Ethereum As you store by methods for bank move, they are quickly available for trading. you can purchase by encountering the menu and picking your supported trading pair. For example, for Bitcoin BTC/USD similarly as Ethereum ETH/USD. In the wake of embeddings the expense and sum it will process your buy demand. There is another choice to trade by methods for the business community which has exhibit orders gave by various customers. After the fulfillment of your purchase, your record will be acknowledged with your Ethereum just as Bitcoin purchases. You can sell your computerized cash on the Gemini crypto exchange. Regardless of the way that you can't make a withdrawal until your bank move has been completely arranged. gemini sponsor organization 4)Trading Limits By and by, For most trade strategies, there are no limitations on trades. In any case, Automated Clearing House (ACH) moves have the greatest store most remote purpose of $500 day and $15,000 consistently for singular record holders. Associations have a state of restriction for making ACH stores of $10,000 consistently or $300,000 consistently. Gemini Marketplace There is a Gemini business focus that runs 24*7. Here, you can have indistinguishable number of solicitations from you wish to have, with a variety of trading choices. These include: Market Orders – With the present best open worth, the solicitations here starting dealing with quickly against resting orders. Purpose of repression Orders – The sum is filled at or better than a given expense. The sum which isn't dispatched lays on the solicitation book diligently until it is filled or dropped. Brief or Cancel (IOC) Limit Orders – The sum is filled at or better than a given expense. The sum which isn't filled rapidly is dropped and doesn't lay on the perpetual solicitation book. Maker or Cancel (MOC) Limit Orders – The sum lays on the solicitation book continually at a foreordained expense. Furthermore, the entire solicitation is dropped if there is any sum that can be filled immediately. All solicitations made on this stage are totally sponsored and fill in as a full hold exchange. In any case, there is no edge trading Gemini. Despite that, reliably the customer's record equality should have more balance than the exceptional excitement on demand books. Also, all open solicitations decline your available leveling until they are fulfilled or dropped Gemini Fees In the event that there ought to be an event of moves, Gemini crypto exchange has a low cost technique and stage customers can store Bitcoin, Ether, at freed from charges for both bank and wire moves. In any case, banks will charge a cost for the customers to wire money to their Gemini account. Withdrawals on the stage are free and all customers will have 30 free withdrawals for each calendar month. Any withdrawals more than this total will pull in costs comparable to the mining charges payable on either sort out. The costs are around 0.001 BTC or 100,000 Satoshi per trade on the Bitcoin Network and 0 GWei or 0 ETH per trade on the Ethereum Network. MakeTaker charges 0.25% is the trading costs for both sellers(makers) and buyers(takers). If it shows up at certain trade volumes, charges will be reduced. The maker charge is 0% for 30-day trading volumes that outperform 5,000 Bitcoin or 100,000 Ether. For a comparable trading entirety, the taker run after will bubble to 0.10%. Gemini uses dynamic maker and taker charge or reimbursement timetable, and sellers can get reimbursement on liquidity-creation trades. The particular entireties depend upon net trading volumes and the buy and sell extent over a multi day time allotment. The data are adjusted as expected and more information on charges can be found here. https://preview.redd.it/exgucn9gwaj41.png?width=225&format=png&auto=webp&s=34fc66d46df40444abcc9ac61308106b2e3f57c0 charges Concerning purchases, the base purchase whole for Bitcoin is 0.00001 BTC, or 1000 satoshis, for Ether, the base sum is 0 .001 ETH Security-at-Gemini Bitcoin Gemini Reviews, is a strong exchange that has a better than average reputation in everyone. The exchange goes about as a way into the universe of cryptographic cash trading. This may be in light of the fact that various customers first quit concerning purchasing Bitcoin and Ethereum. In comprehension to Coinbase, Gemini has a near space. Wherein it allows its customers to make trade clearly to and from their records. Gemini is a not too bad choice, for people looking to securely trade either Bitcoin or Ethereum. The exchange is a potential decision for new competitors to the market similarly as logically settled sellers who like to make trades by methods for their monetary adjusts. Latest News Dec 17, 2019: Well realized cash related pro association State Street picked Gemini exchange for the new propelled asset pilot adventure. Nov 19, 2019: Gemini exchange wanders into NFT's and acquired Nifty Gateway Solution, a phase to buy Non-Fungible Tokens. Nov 14, 2019: The exchange added Stop-Limit to the solicitations being executed on the stage. Sep 11, 2019: Gemini dispatches Gemini Custody with 18 cryptographic types of cash Sep 5, 2019: Gemini Clearing™, a totally electronic clearing and settlement answer for off-exchange exhibited by the stage Aud 27, 2019: Gemini Joins the Silvergate Exchange Network Aug 22, 2019: Gemini loosens up and reaches to Australia April 15, 2019: Gemini wallet support Segwit Gemini Bitcoin Exchange Review Rundown: How to Buy Bitcoins by means of Gemini Register a record at Gemini and check email code sent to you. Set up two-factor validation (2FA). Give checked ID as a major aspect of the confirmation procedure. Include ledger. Store cash by clicking "Move Funds", "Store into Exchange" and afterward picking the sort of bank move. Snap "Purchase" catch and round out the buy structure to get BTC. Is Gemini Safe? Gemini is extremely worried about its clients' wellbeing, in this manner it utilize three arrangements of security... MORE Gemini Comparison with Other Exchanget To exchange bitcoins you have to initially peruse and think about various BTC trades... MORE In Which Countries Is Gemini Available? You can arrange bitcoins through Gemini nearly in any nation, yet discover where you can't... MORE Guide: Buying BTCs at Gemini It is anything but difficult to purchase bitcoins on Gemini trade, knowing the essential standards and prerequisites... MORE FAQ Discover to what extent the exchange takes, how to pull back BTCs and what strategies for... MORE Practically equivalent to Bitcoin Exchanges We have arranged a rundown of trades, notwithstanding Gemini, that can assist you with requesting bitcoins... MORE With developing worth and system, bitcoin is ready to turn into the main online resource in the realm of ventures. Gemini bitcoin trade survey This article is worried about one of the most well known trades with regards to BTC exchange, Gemini. What Is Gemini? Gemini is one of the realized digital money trades that offer an assortment of exchange apparatuses for speculators that have some involvement with the business. The organization that claims the stage is enrolled as LLC in New York State, USA, offering USD to BTC and USD to ETH exchange trade. Purchase BTC at Gemini Propelled in 2015, Gemini offers two unmistakable commercial centers, them being: customary trade administrations; bitcoin barters. Upon its appearance, the stage offered its administrations in the US just, bit by bit including different nations all the while. The organization is possessed by the Winklevoss twins, who guarantee that they are have about 1% of the complete BTC volume. Winklevoss siblings are Gemini's proprietors Gemini Security With regards to the wellbeing of your assets, Gemini applies three arrangements of safety efforts that should be referenced. To start with, the stage applies advanced money safety efforts by offering hot and cold stockpiling wallets, where cold wallets have multisig capacities to forestall hacking endeavors at your equalizations. Gemini security The subsequent measure is identified with the exchange where the entirety of the exchanges at Gemini are led through pre-financed accounts, implying that merchants and purchasers can't post orders on the off chance that they don't have adequate BTC or fiat monetary forms in their parities. Finally, the site security comprises of two-factor verification (2FA) and HTTP encryption of all data in regards to merchants and stage's exchanges from outsiders. Accessible Payment Methods As of now, Gemini acknowledges stores communicated distinctly in ACH (for US dealers) and wire moves (for every other person) communicated in USD. Credit or check cards, money stores, PayPal and numerous different alternatives are wanted to be remembered for the future however are not accessible at the present time. Buy bitcoin by means of wire move You ought to buy in to the Gemini news source since the organization will promote the new store strategy through that channel of correspondence. Shouldn't something be said about Fees? While saving or pulling back your assets communicated in fiat or computerized monetary forms, dealers would find that the administrations are done totally free. Then again, Gemini charges exchange expenses are charged dependent on a month to month net exchange volume. Taker charges can extend from 0.15% to 0.25% while creator expenses from 0% to 0.25%. Expenses at the trade Does Gemini Have Limits? Cryptographic money and wire stores and withdrawals don't have any constraints forced on dealers, implying that in the event that you utilize the said administrations, you can buy, sell and pull back bitcoins with no deterrents. Singular American financial specialists utilizing ACH move, then again, have $500 every day and $15.000 month to month while institutional individuals have $10.000 day by day and $300.000 month to month store limits. No restrictions for purchasing bitcoin Gemini Comparison When thinking about exchanging at any trade, you should hope to analyze the administrations, expenses and impediments with other comparative stages. In this manner, we have assembled an examination investigation where we benchmarked Gemini against two other well known decisions with regards to BTC buy: Kraken and Coinbase. Gemini versus Kraken Kraken, much the same as Gemini, acknowledges bank moves just, with the significant contrast being that Kraken permits 5 fiat cash stores. Notwithstanding bitcoin, there are 14 more altcoins that you can exchange with at Kraken while the two trades force check on their customers as they are both controlled organizations. Gemini versus Kraken Kraken is fundamentally the same as Gemini as far as expenses, as creatotaker charges go somewhere in the range of 0% and 0.26%. Bank moves do accompany little expenses at Kraken while Gemini acknowledges stores for nothing. In conclusion, while Gemini exchanges two or three nations in particular, Kraken is all around accessible. Coinbase versus Gemini Coinbase is viewed as one of the biggest bitcoin suppliers on the planet, offering its administrations in 32 nations, USA notwithstanding. The installment strategies at Coinbase are PayPal, bank moves and credit/check cards, two more than Gemini. Request bitcoins by means of Coinbase trade Confirmation is an absolute necessity have at Coinbase, much like in Gemini while expenses are a ton lower at Gemini, as you pay between 1.49% to 3.49% from exchange's an incentive at Coinbase. The two trades offer BTC vaults and wallet administrations while Coinbase additionally exchanges with Litecoin which are inaccessible at Gemini. Gemini BTC Exchange in Different Countries Gemini's administrations are accessible in a bunch of nations around the globe, them being the US (5 states not upheld), Canada, Japan, South Korea, Hong Kong, Singapore and the United Kingdom. The five US expresses that are not bolstered are Alaska, Arizona, Hawaii, Oregon and Wisconsin. Gemini trade in various nations Is It Legal? Gemini is an American LLC that adheres to New York Banking Law guidelines, actualizing BSA (Bank Secrecy Act) and AML (Anti-Money Laundry Compliance Program) arrangements, implying that customary reviews of the BSA/AML programs are being executed. Moreover, the firm requires all merchants to have reserves pre-saved before the exchange. Bitcoin Gemini Price, is legitimate Another significant factor of the stage's lawfulness is the way that since its beginning, Gemini has promptly accessible money related report dating 7 years back. Does Gemini Support Its Customers? Concerning the client service, Gemini has a thorough FAQ page where a large portion of the exchanging questions have been replied. Notwithstanding the FAQ, you can likewise top off a shape and present a solicitation to the Gemini group with respect to any issue that you may look on the stage. Gemini client service Because of the regular upkeep of the site's administrations, Gemini has a "Status" page where financial specialists can see which administrations and API instruments are working right now and which are definitely not. Manual for Buy Bitcoins from Gemini When you have gotten the cash at your Gemini account, click "Purchase" button on the dashboard page. Buy page for bitcoins at Gemini Presently, round out the structure on the right, giving request type, volume or estimation of BTC you wish to get and click "Purchase" to get bitcoins in your record immediately. Try to check the BTC cost at the upper left piece of the "Purchase" page to ensure it has not changed at the time you have begun the buy procedure. Enrollment It is totally allowed to enroll a record at Gemini bitcoin trade and the procedure begins once you click "Register" button at the upper right corner of the site. Give your complete name, email address and secret key in subsequent stage and snap "Make My Account". Make account at Gemini You will get an email code which you should duplicate glue into the Gemini's check page. Contribution of enactment code on Bitcoin Gemini Registration The accompanying advances will open up for you to finish, in this way you have to arrangement your 2FA security apparatus, include a financial balance and give checked ID to finish the enrollment methodology. To what extent Should I Wait for Verification? Check stage can take between an hour and a day, contingent upon various enlistment applications Gemini has right now you have begun the procedure. You ought to set up every single essential report before you start and arm yourself with persistence as a stage would set aside effort to process your data. Confirmation process at Gemini Would you be able to Get Bitcoins Without Verification? At the enlistment page, you are required to check your personality and frog your financial balance. When you have presented the records, you can't enter the stage's exchange page until the help affirms your subtleties. In this way, it is unimaginable to expect to buy supply of bitcoins without confirmation. Obligatory confirmation before purchasing BTCs at Gemini How to Add Money to Account? When you have finished the enrollment and confirmation of your record, click button "Move Funds", situated in the top segment of your dashboard page. In following stage, click "Store Into Exchange" and pick either USD or Wire alternative, contingent upon what financial balance you have included at enrollment stage. Add assets to Gemini account You can likewise store bitcoins in your Gemini wallet too. Store BTCs in the Gemini wallet At the last phase of wire move subsidizing process, you have to give bank's wiring data, for example, your record number and other significant data that can be found by clicking "Bank Settings". Give bank's wiring data When data has been given, basically click "Store" button which will show up at the base of the page. Secure Your Account Keep the entirety of your record and wallet passwords out of the programmer's compass by continually evolving them. Monitor the new secret key by keeping in touch with them down on a bit of paper as to not overlook them meanwhile. Record with 2FA on trade You as of now have 2FA from the enlistment stage and don't give your private data to some other dealer on the stage. FAQ To what extent Does It Take to Make Transaction? It takes 4 to 5 days to store assets in your Gemini account while exchanges themselves are done following you the exchange started. Diverse request types have distinctive length, contingent upon what dealer wishes to accomplish. Sitting tight for exchanges on the trade Would i be able to Buy Bitcoin with PayPal at Gemini? Now, brokers can't utilize PayPal as store technique at Gemini. You ought to buy in to the trade's news channel as to get warnings if the strategy opens up to store alternative later on. Does Gemini Have a BTC Wallet? The stage offers two kinds of wallet administrations, one being "hot" wallet and another being vault stockpiling. Both are based just, with the principle contrast being that vault stockpiling gives extra security keys that are utilized while moving bitcoins all through the wallet. Along these lines, vault administrations are esteemed as more secure than the standard BTC wallet. Gemini wallet Pulling back Your Bitcoins from Gemini At the dashboard page, click "Move Funds" and afterward "Pull back From Exchange" to begin the procedure. Pick bitcoins to continue towards the withdrawal structure. Determine the measure of BTC you with to escape the trade and give your wallet address. Snap "Survey Withdrawal" and check the data. When you are fulfilled, click "Affirm" to end the procedure. Your coins will show up inside 24 hours to your ideal area. Pull back BTC from Gemini Instructions to Order BTC with Credit/Debit Card at Gemini As with PayPal, it is preposterous to expect to buy bitcoins with the assistance of credit or charge cards at Gemini, since the choice isn't accessible right now. Stay aware of trade's news and declarations as the CC/DC choice may open up later on. Gemini Mobile App Portable stages are yet to be created by Gemini, implying that exchange is accessible on perusing stage as it were. Watch out for the declaration, as the organization may make the push towards telephone exchange not so distant future. Purchase BTC just on Gemini perusing stage Gemini Analogs Aside from Gemini, we at BitcoinBestBuy have checked on numerous different stages that can assist you with getting bitcoins effectively and securely. They all change regarding local accessibility, expenses, buy strategies and confirmation necessities, so make a point to check different articles also. Get BTC at digital money stages Coinbase Exchange Review Being one of the biggest BTC exchanging stages the world, we made a survey of their charges, store choices and other important data with respect to the trade. We have likewise given bit by bit controls on the best way to buy and pull back assets and coins from Coinbase. Coinbase survey Full Review Coinbase Bitcoin Gemini Exchange Find out About Kraken Kraken is another trade that offers bitcoins through bank moves and its administrations are all inclusive accessible. We made a survey of Kraken's advantages and disadvantages, giving our customers a diagram of the trade as far as expenses the organization charges, check prerequisites and buy procedures of the stage. https://www.cryptoerapro.com/bitcoin-gemini/ http://www.cryptoerapro.com/ https://twitter.com/cryptoerapro https://www.instagram.com/cryptoerapro/ https://www.pinterest.co.uk/cryptoerapro/ https://www.facebook.com/cryptoerapro https://www.facebook.com/pg/bitcoingeminibot https://www.facebook.com/events/282310836080639/
I wrote a 30,000 ft. "executive summary" intro document for cryptos. Not for you, for your non-technical parents or friends.
This document was originally written for my dad, an intelligent guy who was utterly baffled about the cryptocurrency world. The aim was to be extremely concise, giving a broad overview of the industry and some popular coins while staying non-technical. For many of you there will be nothing new here, but recognize that you are in the 0.001% of the population heavily into crypto technology. I've reproduced it for Reddit below, or you can find the original post here on my website. Download the PDF there or hit the direct link: .PDF version. Donations happily accepted:
This document is purely informational. At the time of writing there are over 1000 cryptocurrencies (“cryptos”) in a highly volatile, high risk market. Many of the smaller “altcoins” require significant technical knowledge to store and transact safely. I advise you to carefully scrutinize each crypto’s flavor of blockchain, potential utility, team of developers, and guiding philosophy, before making any investment  decisions. With that out of the way, what follows are brief, extremely high-level summaries of some cryptos which have my interest, listed in current market cap order. But first, some info: Each crypto is a different implementation of a blockchain network. Originally developed as decentralized digital cash, these technologies have evolved into much broader platforms, powering the future of decentralized applications across every industry in the global economy. Without getting into the weeds,  most cryptos work on similar principles: Distributed Ledgers Each node on a blockchain network has a copy of every transaction, which enables a network of trust that eliminates fraud.  Decentralized “Miners” comprise the infrastructure of a blockchain network.  They are monetarily incentivized to add computing power to the network, simultaneously securing and processing each transaction.  Peer-to-peer Cryptos act like digital cash-- they require no third party to transact and are relatively untraceable. Unlike cash, you can back them up. Global Transactions are processed cheaply and instantly, anywhere on Earth. Using cryptos, an African peasant and a San Francisco engineer have the same access to capital, markets, and network services. Secure Blockchains are predicated on the same cryptographic technology that secures your sensitive data and government secrets. They have passed seven years of real-world penetration testing with no failures. 
The first cryptocurrency. As with first movers in any technology, there are associated pros and cons. Bitcoin has by far the strongest brand recognition and deepest market penetration, and it is the only crypto which can be used directly as a currency at over 100,000 physical and web stores around the world. In Venezuela and Zimbabwe, where geopolitical events have created hyperinflation in the centralized fiat currency, citizens have moved to Bitcoin as a de facto transaction standard.  However, Bitcoin unveiled a number of issues that have been solved by subsequent cryptos. It is experiencing significant scaling issues, resulting in high fees and long confirmation times. The argument over potential solutions created a rift in the Bitcoin developer community, who “forked” the network into two separate blockchains amidst drama and politicking in October 2017. Potential solutions to these issues abound, with some already in place, and others nearing deployment. Bitcoin currently has the highest market cap, and since it is easy to buy with fiat currency, the price of many smaller cryptos (“altcoins”) are loosely pegged to its price. This will change in the coming year(s).
Where Bitcoin is a currency, Ethereum is a platform, designed as a foundational protocol on which to develop decentralized applications (“Dapps”). Anyone can write code and deploy their program on the global network for extremely low fees. Just like Twitter wouldn’t exist without the open platform of the internet, the next world-changing Dapp can’t exist without Ethereum. CurrentDapps include a global market for idle computing power and storage, peer-to-peer real estate transactions (no trusted third party for escrow), identity networks for governments and corporations (think digital Social Security card), and monetization strategies for the internet which replace advertising. Think back 10 years to the advent of smartphones, and then to our culture today-- Ethereum could have a similar network effect on humanity. Ethereum is currently the #2 market cap crypto below Bitcoin, and many believe it will surpass it in 2018. It has a large, active group of developers working to solve scaling issues,  maintain security, and create entirely new programming conventions. If successful, platforms like Ethereum may well be the foundation of the decentralized internet of the future.
Ripple is significantly more centralized than most crypto networks, designed as a backbone for the global banking and financial technology (“fintech”) industries. It is a network for exchanging between fiat currencies and other asset classes instantly and cheaply, especially when transacting cross-border and between separate institutions. It uses large banks and remittance companies as “anchors” to allow trading between any asset on the network, and big names like Bank of America, American Express, RBC, and UBS are partners. The utility of this network is global and massive in scale. It is extremely important to note that not all cryptos have the same number of tokens. Ripple has 100 Billion tokens compared to Bitcoin’s 21 Million. Do not directly compare price between cryptos. XRP will likely never reach $1k,  but the price will rise commensurate with its utility as a financial tool. In some sense, Ripple is anathema to the original philosophical vision of this technology space. And while I agree with the cyberpunk notion of decentralized currencies, separation of money and state, this is the natural progression of the crypto world. The internet was an incredible decentralized wild west of Usenet groups and listservs before Eternal September and the dot-com boom, but its maturation affected every part of global society.
Cardano’s main claim to fame: it is the only crypto developed using academic methodologies by a global collective of engineers and researchers, built on a foundation of industry-leading, peer-reviewed cryptographic research. The network was designed from first-principles to allow scalability, system upgrades, and to balance the privacy of its users with the security needs of regulators. One part of this ecosystem is the Cardano Foundation, a Swiss non-profit founded to work proactively with governments and regulatory bodies to institute legal frameworks around the crypto industry. Detractors of Cardano claim that it doesn’t do anything innovative, but supporters see the academic backing and focus on regulation development as uniquely valuable.
Stellar Lumens (XLM)
Stellar Lumens and Ripple were founded by the same person. They initially shared the same code, but today the two are distinct in their technical back-end as well as their guiding philosophy and development goals. Ripple is closed-source, for-profit, deflationary, and intended for use by large financial institutions. Stellar is open-source, non-profit, inflationary, and intended to promote international wealth distribution. As such, they are not direct competitors. IBM is a major partner to Stellar. Their network is already processing live transactions in 12 currency corridors across the South Pacific, with plans to process 60% of all cross-border payments in the South Pacific’s retail foreign exchange corridor by Q2 2018. Beyond its utility as a financial tool, the Stellar network may become a competitor to Ethereum as a platform for application development and Initial Coin Offerings (“ICOs”). The theoretical maximum throughput for the network is higher, and it takes less computational power to run. The Stellar development team is highly active, has written extensive documentation for third-party developers, and has an impressive list of advisors, including Patrick Collison (Stripe), Sam Altman (Y Combinator), and other giants in the software development community.
Iota was developed as the infrastructure backbone for the Internet of Things (IoT), sometimes called the machine economy. As the world of inanimate objects is networked together, their need to communicate grows exponentially. Fridges, thermostats, self-driving cars, printers, planes, and industrial sensors all need a secure protocol with which to transact information. Iota uses a “Tangle” instead of a traditional blockchain, and this is the main innovation driving the crypto’s value. Each device that sends a transaction confirms two other transactions in the Tanlge. This removes the need for miners, and enables unique features like zero fees and infinite scalability. The supply of tokens is fixed forever at 2.8*1015, a staggeringly large number (almost three thousand trillion), and the price you see reported is technically “MIOT”, or the price for a million tokens.
The most successful privacy-focused cryptocurrency. In Bitcoin and most other cryptos, anyone can examine the public ledger and trace specific coins through the network. If your identity can be attached to a public address on that network, an accurate picture of your transaction history can be built-- who, what, and when. Monero builds anonymity into the system using strong cryptographic principles, which makes it functionally impossible to trace coins,  attach names to wallets, or extract metadata from transactions. The development team actively publishes in the cryptography research community. Anonymous transactions are not new-- we call it cash. Only in the past two decades has anonymity grown scarce in the first-world with the rise of credit cards and ubiquitous digital records. Personal data is becoming the most valuable resource on Earth, and there are many legitimate reasons for law-abiding citizens to want digital privacy, but it is true that with anonymity comes bad actors-- Monero is the currency of choice for the majority of black market (“darknet”) transactions. Similarly, US Dollars are the main vehicle for the $320B annual drug trade. An investment here should be based on the underlying cryptographic research and technology behind this coin, as well as competitors like Zcash. 
Zero fees and instantaneous transfer make RaiBlocks extremely attractive for exchange of value, in many senses outperforming Bitcoin at its original intended purpose. This crypto has seen an explosion in price and exposure over the past month, and it may become the network of choice for transferring value within and between crypto exchanges. Just in the first week of 2018: the CEO of Ledger (makers of the most popular hardware wallet on the market) waived the $50k code review fee to get RaiBlocks on his product, and XRB got listed on Binance and Kucoin, two of the largest altcoin exchanges globally. This is one to watch for 2018. 
Developed as a single answer to the problem of supply-chain logistics, VeChain is knocking on the door of a fast-growing $8 trillion industry. Every shipping container and packaged product in the world requires constant tracking and verification. A smart economy for logistics built on the blockchain promises greater efficiency and lower cost through the entire process flow. Don’t take my word for it-- VeChain has investment from PwC (5th largest US corporation), Groupe Renault, Kuehne & Nagel (world’s largest freight company), and DIG (China’s largest wine importer). The Chinese government has mandated VeChain to serve as blockchain technology partner to the city of Gui’an, a special economic zone and testbed for China’s smart city of the future. This crypto has some of the strongest commercial partnerships in the industry, and a large active development team.
“Investment” is a misnomer. Cryptos are traded like securities, but grant you no equity (like trading currency).
It is impossible to double-spend or create a fake transaction, as each ledger is confirmed against every other ledger.
Some utility token blockchains use DAG networks or similar non-linear networks which don’t require mining.
In practice, these are giant warehouses full of specialized computers constantly processing transactions. Miners locate to the cheapest electricity source, and the bulk of mining currently occurs in China.
Centralized second-layer exchange websites have been hacked, but the core technology is untouched.
Hashrate: went from 54 to 76 PH/s, the low was 50 and the new all-time high is 100 PH/s. BeePool share rose to ~50% while F2Pool shrank to 30%, followed by coinmine.pl at 5% and Luxor at 3%. Staking: 30-day average ticket price is 95.6 DCR (+3.0) as of Sep 3. During the month, ticket price fluctuated between a low of 92.2 and high of 100.5 DCR. Locked DCR represented between 3.8 and 3.9 million or 46.3-46.9% of the supply. Nodes: there are 217 public listening and 281 normal nodes per dcred.eu. Version distribution: 2% at v1.4.0(pre) (dev builds), 5% on v1.3.0 (RC1), 62% on v1.2.0 (-5%), 22% on v1.1.2 (-2%), 6% on v1.1.0 (-1%). Almost 69% of nodes are v.1.2.0 and higher and support client filters. Data snapshot of Aug 31.
Obelisk posted 3 email updates in August. DCR1 units are reportedly shipping with 1 TH/s hashrate and will be upgraded with firmware to 1.5 TH/s. Batch 1 customers will receive compensation for missed shipment dates, but only after Batch 5 ships. Batch 2-5 customers will be receiving the updated slim design. Innosilicon announced the new D9+ DecredMaster: 2.8 TH/s at 1,230 W priced $1,499. Specified shipping date was Aug 10-15. FFMiner DS19 claims 3.1 TH/s for Blake256R14 at 680 W and simultaneously 1.55 TH/s for Blake2B at 410 W, the price is $1,299. Shipping Aug 20-25. Another newly noticed miner offer is this unit that does 46 TH/s at 2,150 W at the price of $4,720. It is shipping Nov 2018 and the stats look very close to Pangolin Whatsminer DCR (which has now a page on asicminervalue).
www.d1pool.com joined the list of stakepools for a total of 16. Australian CoinTreeadded DCR trading. The platform supports fiat, there are some limitations during the upgrade to a new system but also no fees in the "Early access mode". On a related note, CoinTree is working on a feature to pay household bills with cryptocurrencies it supports. Three new OTC desks were added to exchanges page at decred.org. Two mobile wallets integrated Decred:
Coinomiadded Decred to their Android and iOS wallets. In addition to the Apple App Store and Google Play you can download the APK directly. Coinomi features an integrated cryptocurrency exchange and is the first company to offer a mobile Decred wallet.
Reminder: do your best to understand the security and privacy model before using any wallet software. Points to consider: who controls the seed, does the wallet talk to the nodes directly or via middlemen, is it open source or not?
Bit Dialsannounced DCR support via GloBee at their bitdials.eu luxury boutique. Their separate supercar and classic car shop bitcars.eu also accepts DCR, either via GloBee or with manual invoicing in case of privacy concerns.
Targeted advertising report for August was posted by @timhebel. Facebook appeal is pending, some Google and Twitter campaigns were paused and some updated. Read more here. Contribution to the @decredproject Twitter account has evolved over the past few months. A #twitter_ops channel is being used on Matrix to collaboratively draft and execute project account tweets (including retweets). Anyone with an interest in contributing to the Twitter account can ask for an invitation to the channel and can start contributing content and ideas there for evaluation by the Twitter group. As a result, no minority or unilateral veto over tweets is possible. (from GitHub)
Meetup in Puebla City, Mexico, organized by @elian. (photo, slides, missed in July issue)
@joshuam discussed Decred and decentralized organizations with Craig Laundy, Federal Minister for Small Business, the Workplace, and Deregulation with the Australian Government, at @YBFVentures. (photos)
Meetup at @TheBlockCafe in Lisbon, Portugal. @mm presented "Decred 101 - Governance with Skin in the Game" and @moo31337 talked about Decred's 2018 roadmap. (photos: 123)
Meetup in Taipei, Taiwan. @morphymore made a short intro of Decred and noted: "After the talk, many have approached to tell me that they literally don’t hear of Decred until today, and are interested in finding out more about the merit of a hybrid consensus system.". Longer report here, some photos and a video are here.
@eSizeDave introduced Decred to the SILC Undergraduate Program students at @YBFVentures. (photo)
OKEx Global Meetup Tour in Ho Chi Minh City, Vietnam. @joshuam gave a brief presentation covering the history of Decred, how the project functions, and the importance of governance. Afterwards he joined a panel discussion and spoke about Decred's incentives for long term viability. (video, video, photo)
Blockchain Futurist Conference in Toronto, Canada. @zubairzia0 noted: "Devs and the community were held in high regard for the people who knew about decred ... one positive thing I remember was someone defending us saying 'Decred does not need a booth', I believe that comment was reflective of the quality of projects being showcased at the conference.". (photo)
Meetup at @YBFVentures in Melbourne, Australia. @joshuam discussed Decred with Graham Stuart, U.K. Minister for International Trade. (news, photos)
Small meetup with Jackson Palmer in Melbourne, Australia. (photo)
Hawthorne Street Fair in Portland, USA. Raedah Group was out answering questions about crypto and Decred. (photos)
Blockchain APAC in Melbourne, Australia. @joshuam joined a panel discussion with reps from banking, university and ISO/TC 307. @eSizeDave reports: "This enterprise conference was indeed a whole lot better than I expected. The presentations were actually full of very worthwhile information from credible people, articulated aptly to a very government, academic, and corporate crowd, who genuinely took on board valuable insights. Good to know some of these key people are Decred holders and stakers as well. I got to use the entire day to speak directly with some of the most pivotal personalities in this particular populace. Ongoing relationships have been built and strengthened.". (photos: 123)
For those willing to help with the events:
BAB: Hey all, we are gearing up for conference season. I have a list of places we hope to attend but need to know who besides @joshuam and @Haon are willing to do public speaking, willing to work booths, or help out at them? You will need to be well versed on not just what is Decred, but the history of Decred etc... DM me if you are interested. (#event_planning) The Decred project is looking for ambassadors. If you are looking for a fun cryptocurrency to get involved in send me a DM or come talk to me on Decred slack. (@marco_peereboom, longer version here)
One private work channel was successfully migrated to Matrix.
Stylish room avatars were set.
@Haon has prepared a short guide to help new Matrix users get started and join the Decred rooms.
A thread was started to discuss changes to Decred jargon with the intent to make it more consistent and accessible to newcomers. The question whether changing "official" terminology requires stakeholder approval was touched in this thread and in #documentation.
Project fund transparency and constitution were extensively discussed on Reddit and in #general.
Pre-proposal to use Politeia to approve Politeia as a legitimate decision-making tool for Decred.
Reddit: substantive discussion about Decred cons; ecosystem fund; a thread about voter engagement, Politeia UX and trolling; idea of a social media system for Decred by @michae2xl; how profitable is the Obelisk DCR1. Chats: cross-chain trading via LN; plans for contractor management system, lower-level decision making and contractor privacy vs transparency for stakeholders; measuring dev activity; what if the network stalls, multiple implementations of Decred for more resilience, long term vision behind those extensive tests and accurate comments in the codebase; ideas for process for policy documents, hosting them in Pi and approving with ticket voting; about SPV wallet disk size, how compact filters work; odds of a wallet fetching a wrong block in SPV; new module system in Go; security of allowing Android app backups; why PoW algo change proposal must be specified in great detail; thoughts about NIPoPoWs and SPV; prerequisites for shipping SPV by default (continued); Decred vs Dash treasury and marketing expenses, spending other people's money; why Decred should not invade a country, DAO and nation states, entangling with nation state is poor resource allocation; how winning tickets are determined and attack vectors; Politeia proposal moderation, contractor clearance, the scale of proposals and decision delegation, initial Politeia vote to approve Politeia itself; chat systems, Matrix/Slack/Discord/RocketChat/Keybase (continued); overview of Korean exchanges; no breaking changes in vgo; why project fund burn rate must keep low; asymptotic behavior of Decred and other ccs, tail emission; count of full nodes and incentives to run them; Politeia proposal translations and multilingual environment. An unusual event was the chat about double negatives and other oddities in languages in #trading.
DCR started the month at USD 56 / BTC 0.0073 and had a two week decline. On Aug 14 the whole market took a huge drop and briefly went below USD 200 billion. Bitcoin went below USD 6,000 and top 100 cryptos lost 5-30%. The lowest point coincided with Bitcoin dominance peak at 54.5%. On that day Decred dived -17% and reached the bottom of USD 32 / BTC 0.00537. Since then it went sideways in the USD 35-45 / BTC 0.0054-0.0064 range. Around Aug 24, Huobi showed DCR trading volume above USD 5M and this coincided with a minor recovery. @ImacallyouJawdy posted some creative analysis based on ticket data.
StopAndDecrypt published an extensive article "ASIC Resistance is Nothing but a Blockchain Buzzword" that is much in line with Decred's stance on ASICs. The ongoing debates about the possible Sia fork yet again demonstrate the importance of a robust dispute resolution mechanism. Also, we are lucky to have the treasury. Mark B Lundeberg, who found a vulnerability in atomicswap earlier, published a concept of more private peer-to-peer atomic swaps. (missed in July issue) Medium took a cautious stance on cryptocurrencies and triggered at least one project to migrate to Ghost (that same project previously migrated away from Slack). Regulation: Vietnam bans mining equipment imports, China halts crypto events and tightens control of crypto chat groups. Reddit was hacked by intercepting 2FA codes sent via SMS. The announcement explains the impact. Yet another data breach suggests to think twice before sharing any data with any company and shift to more secure authentication systems. Intel and x86 dumpsterfire keeps burning brighter. Seek more secure hardware and operating systems for your coins. Finally, unrelated to Decred but good for a laugh: yetanotherico.com.
About This Issue
This is the 5th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here. Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research. Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack. Contributions are welcome too. Some areas are collecting content, pre-release review or translations to other languages. Check out @Richard-Red's guide how to contribute to Decred using GitHub without writing code. Credits (Slack names, alphabetical order): bee, Haon, jazzah, Richard-Red and thedecreddigest.
Super Beginners Guide to getting started in Cryptocurrency. (written from a Canadians Perspective)
Getting Started in Crypto What is cryptocurrency? In the most basic sense a cryptocurrency is an encrypted currency (generally decentralized but not always) that functions on a blockchain. This was executed first by satoshi nakamoto in 2008 after the financial crisis caused by the crash of the housing market. The creation of bitcoin and blockchain solved the double spending problem, which in turn paved the way for everything that has and will come. What is blockchain? This question can be answered in many ways, for sake of this guide I’m just going to do it in the simplest and if you want more detail I am happy to provide. “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value”. What that means is that it’s a system the cannot be corrupted, and records everything done on a given exchange network. In terms of currency that means that every transaction is recorded somewhere on the blockchain. In terms of other goods or services there are endless possibilities. Coin vs Token. In its most basic sense a coin is a cryptocurrency unit that is exactly that, a currency. Generally, the early players in the cryptocurrency world are coins. You have coins such as bitcoin, litecoin, and monero. A token on the other hand is a cryptocurrency that has a broader function. These tend to be the new school of crypto and you get things like ether, ripple, raiblocks, and so on. It is important to be able to distinguish between the two so that you know exactly what you end up investing in. Exchanges and Wallets. So, once you finally decide you want to get involved the first steps are to find yourself a wallet and exchange for your desired currency. Wallets can be found online and generally most cryptocurrencies have designated wallets you can find on their website. Exchanges are where your fiat currency (things like cad and usd) and then exchange for whatever you desire. Coinbase is the biggest exchange as of right now, however it isn’t Canadian friendly and only holds 4 currencies as of now (that number will change in the future). I personally use Quadrigacx, it is a Canadian exchange based out of Vancouver where uploading fiat currency is easy once you become verified (submit required documents). It is very secure, and I have had no problems with it to date. Now, quadrigacx only exchanges a handful of currencies so if you are looking for one that isn’t on there these will be your steps. Wire capital to quadrigacx, buy BTC, transfer your BTC to an exchange that carries what you like, and purchase it through there. The list of exchanges I use, and trust include: bittrex, binance, kucoin, yobit, coinexchange.io. kraken, and radar relay. Now once you start to get involved I suggest you stick to quadrigacx, bittrex, binance. Those are the major players and by far the easiest to use. Once you get more accustomed to the environment of trading then I would say branching out is a good idea. What to buy? Fuck, good question. The most important question you must ask yourself is do you want a short or long-term investment. To start your journey, I would say long term would be the best bet. You can purchase some crypto, watch it go, pay attention to the market and what influences it and make some steady gains (hopefully). Long term investments are held (in my opinion) for at minimum three weeks. My rule of thumb for long term investments is that it must fit 3 criteria. It must be a technology I believe in and like, a reputable team must back it, and it MUST BE SCALABLE. If something fits those then I’m in for the long haul. Now short-term investments are not day trading. What I mean by short term investments are small shitcions that have good ideas, followings, and has potential to gain fast traction. Personally, when I choose short term investments I like them to be under 2 dollars and I hold them for 3 days to 3 weeks. If I’m not happy with them at any time within that period, then I’m out. DON’T BE A GREEDY SON OF BITCH Now to elaborate on my previous points, if you have a long-term investment… ITS SUPPOSED TO BE LONG TERM. Now I’m not saying you can never walk away with profit because profit isn’t profit until you pull it out. This is kind of a double-edged sword and this is what distinguishes good traders from average. You need to have the stomach to hold when others pull out and panic sell, and you need to have the brains to pull out before it crashes. In other words, you need to be smart about every single action you make in the crypto world and you need to make every decision for yourself. Not because you read some crackpot of reddit panic selling over a 2% dip. INFORMATION INFORMATION INFORMATION You must understand that cryptocurrency is not stocks. You are not buying into a company, you are purchasing a good. This is imperative to understand. The cryptocurrency world does not sleep like the stock market does, it is constantly moving whether you are paying attention to it or not. This means that sometimes you are going to get lucky and stumble upon something at 2am on a Tuesday night that could make you rich, or maybe you lose out on something because you were sleeping. Shit happens, and you can’t dwell on it. It is a volatile market and you must do the best you can in the present moment and not get caught up in the past or future. Those who try to predict the market lose it all. Be smart all the time and think every decision through. Information is constantly flowing which means you need to be an active member in the community if you want to stay on top of it, this means reddit, google news, telegram, discord, and people. It is so easy to network and get involved, and it really is an overall safe and good community. One of the best parts of cryptocurrency is that everyone involved wants it to succeed, and for it to succeed everyone needs to help everyone. That is why I am writing this for you. You need to constantly be educating yourself. Understand that you can’t be an expert, but you can be educated. There will always be others out there who know more than you, and you must be willing to find and learn from them. Be respectful and ask questions ALL THE TIME. Is it a bubble? Notice how I didn’t ask the question “will it crash” because the answer to that is always going to yes. That is how people buy low and sell high to make money. You want to get in low, and sell before it crashes. In the past 2 months the crypto world has experienced 3 major crashes. All of them has recovered and all of them were great opportunities to make good money. Like I said, be smart and try your best to be ahead of the game. That being said you are going to lose money at times. That is okay, just make sure you learn from it. Sometimes it can be attributed to poor decision making, and other times its just shit luck. ITS OKAY. In my opinion crypto currency is not a bubble. Blockchain technology has the ability to change the world in radical ways we haven’t even thought of yet. For something to be a bubble it must lack utility, but everyday more and more utility comes around for cryptocurrency. Whether it be buying goods with bitcoin or banks implementing ripple into their everyday business life. Safety Now in an online world you must do a lot on your own. This means you must be safe about everything. Double and triple check everything, avoid anything you don’t 100% believe in, and keep everything safe. This means all your passwords and code need to be written down in at least 3 places as well as up your ass for good measure. You lose your shit you lose your money. Simple. Don’t be fucking around and handing anything out to anyone because in an environment where you can make everything in an hour… you can lose more in seconds. So be weary and trust your gut. And that’s it for the basic guide. If you have any more questions or want more in depth knowledge or insight I’m happy to give what I know upon further request. Remember that this is a volatile market and everything I said it just MY opinion and knowledge. Take it with a grain of salt and question everything for yourself. Don’t invest anything you aren’t willing to lose and be involved for the right reasons. Cheers and good luck.
CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! (26500 points, 3087 comments)
Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. (17879 points, 1294 comments)
So no one else finds it a bit odd that Verge is actually going up in price in a bear market, after a hack attack, after being outed for paying McAfee to promote it, and after the 1 developer begged for money from his own community to allegedly help pay his taxes? (2550 points, 875 comments)
I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. (20144 points, 1459 comments)
CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! by DestroyerOfShitcoins (26500 points, 3087 comments)
I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. by Suuperdad (20144 points, 1459 comments)
Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. by DestroyerOfShitcoins (17879 points, 1294 comments)
4781 points: hanzyfranzy's comment in Bitcoin breaches $4000 in 15 minutes. What is happening 😳
4368 points: andyalxatydotcom's comment in Trevon James has over $1,000,000 in his Steem wallet, so I am posting this image as evidence as a record for the internet to remember forever, just in case he tries to tell the courts he lost all his money in BitConnect too like Craig Grant is claiming.
4287 points: mikelo22's comment in +1(800)273-8255 - U.S. National Suicide Hotline
4034 points: FSev's comment in +1(800)273-8255 - U.S. National Suicide Hotline
3700 points: arsonbunny's comment in Bittrex holding my about $100.000 hostage with no response to support ticket/email for almost three months
3628 points: eNte19's comment in Enjoy the massacre. It could be a once in life opportunity.
CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! (26506 points, 3085 comments)
Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. (17883 points, 1292 comments)
So no one else finds it a bit odd that Verge is actually going up in price in a bear market, after a hack attack, after being outed for paying McAfee to promote it, and after the 1 developer begged for money from his own community to allegedly help pay his taxes? (2548 points, 875 comments)
I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. (20147 points, 1459 comments)
CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! by DestroyerOfShitcoins (26506 points, 3085 comments)
I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. by Suuperdad (20147 points, 1459 comments)
Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. by DestroyerOfShitcoins (17883 points, 1292 comments)
4785 points: hanzyfranzy's comment in Bitcoin breaches $4000 in 15 minutes. What is happening 😳
4364 points: andyalxatydotcom's comment in Trevon James has over $1,000,000 in his Steem wallet, so I am posting this image as evidence as a record for the internet to remember forever, just in case he tries to tell the courts he lost all his money in BitConnect too like Craig Grant is claiming.
4284 points: mikelo22's comment in +1(800)273-8255 - U.S. National Suicide Hotline
4036 points: FSev's comment in +1(800)273-8255 - U.S. National Suicide Hotline
3695 points: arsonbunny's comment in Bittrex holding my about $100.000 hostage with no response to support ticket/email for almost three months
3628 points: eNte19's comment in Enjoy the massacre. It could be a once in life opportunity.
InvestInBlockchain - Cryptocurrencies in the Top 100 With Working Products
📷 Bitcoin is the cryptocurrency that started it all back in 2009, after the global financial crisis and subsequent bailouts of banks left many people disenfranchised with fiat currency and outdated, insecure financial infrastructure. Today, Bitcoin is being used for peer-to-peer payments across the globe. More than that, though, it is leading the way towards a future in which financial technology is trustless, secure, resilient, and censorship resistant. Without Bitcoin, this list would not exist.
📷 The platform that brought smart contracts to the blockchain, spurring a minor revolution in the cryptocurrency ecosystem. Before Ethereum, Bitcoin and its transaction-oriented design was the central focus of most blockchain projects. After Ethereum, teams saw the value of decentralized apps (dapps) and smart contracts, and shifted their focus to compensate. Vitalik Buterin’s Ethereum whitepaper was released in late 2013. The project itself was announced January 2014, with a crowdsale the following July. The system officially went live in July 2015. Since then, hundreds of businesses, individuals, and blockchain projects have adopted Ethereum as their main smart contracts platform.
📷 Ripple is focused primarily on one thing: fast and cheap international transactions. Current banking infrastructure has failed to evolve in the 21st century, such that it still takes 3-5 business days on average for an international transfer to be processed. With just 4 second transaction times and at a fraction of the cost of a wire transfer, Ripple’s working product is already impacting the banking sector. The big knock against Ripple is that its native token, XRP, is completely unnecessary. Indeed, driving adoption of Ripple’s banking solutions is far easier than getting real-world adoption for XRP. If you’re interested in seeing a discussion about how XRP adoption will occur, you might find this reddit thread worth a read. Meanwhile, all of us will just have to wait and see whether XRP adoption strategies ultimately come to fruition.
Bitcoin Cash (BCH)
📷 Bitcoin Cash was created in 2017 when the first ever hard fork of the Bitcoin blockchain took place. The split was the result of Bitcoin’s 1MB blocks filling up. Transaction speeds were declining, fees were increasing, and it became clear to the community that the current model wasn’t sustainable for scaling. In a move that still causes cryptocurrency fights to this day, Bitcoin and Bitcoin Cash soon emerged as separate but similar projects. BCH has 8x the block size of BTC, giving it roughly 8x the transaction throughput. Its fees and transaction times are much faster, as predicted. Learn more about Bitcoin vs Bitcoin Cash.
📷 The Stellar project and its associated Lumens (XLM) token was forked from the Ripple protocol in 2014. Stellar has come into its own since then, providing a blockchain connection service for fiat transactions between banks, payment systems, and people. Stellar is fast and reliable, and it works with practically no fees for the end-user. Stellar is a payments system, meaning its job is to move money as efficiently as possible. Partnerships with banks and financial institutions were key in evaluating its status, as was the ability to actually send money using the network. Several non-profits and commercial entities have agreed to use Stellar as part of their financial infrastructure. Recently, the team partnered with IBM and KlickEx to facilitate cross-border transactions in the South Pacific and announced an affiliate with Keybase to streamline international transactions. Stellar also has projects being builton its network by major established entities. IBM’s blockchain division is using XLM for their payments infrastructure, for example, and the Veridium startup is working with both organizations to tokenize its carbon credits market.
📷 Litecoin is a Bitcoin fork that was created in 2011 by Charlie Lee as a cheaper and faster (2.5 minute block time instead of 10) alternative to Bitcoin. This is accomplished predominantly because Litecoin uses a Scrypt hashing algorithm instead of the SHA-256 algorithm used by Bitcoin. It’s common to hear Litecoin called “digital silver” to Bitcoin’s “digital gold,” and in reality Litecoin does not really expand upon the functionality of Bitcoin in a significant way so much as it makes different tradeoffs. That being said, it does succeed in being cheaper and faster to use than BTC, which has led to it being accepted by hundreds of merchants and thus making Litecoin one of the most widely used cryptocurrencies for digital payments.
📷 Tether is an unusual project. Whereas most cryptocurrencies rise and fall in value, Tether was designed to stay the same, fixed at a 1:1 ratio with the U.S. dollar. This allows users to store, send, and receive digital currencies across platforms without incurring significant losses due to value fluctuations. The Tether stable coin sounds straightforward, but the project isn’t without controversy. USDT is supposedly backed by real USD sitting in a bank account. But in which account? Who controls it? And is Tether being used to manipulate the value of Bitcoin? It’s all part of the Tether controversy.
📷 Released in 2014 as a fork of Bytecoin, Monero has since made a name for itself as the most popular privacy coin on the market. Most cryptocurrencies offer little in the form of anonymity. Monero was built for privacy from the ground-up, featuring stealth addresses, ring signatures, and complete coin fungibility. All of this adds up to a near-perfect cloak of anonymity, allowing Monero users to conduct transactions without exposing their identity. Monero has had steady growth over the years thanks to a dedicated team of developers and an active community. The project continues to evolve with new privacy features and improved transaction security.
📷 NEO was founded in 2014 as one of the earliest smart contract platforms, giving it a wide breadth of possible functionality. The platform’s strongest use case is digitizing traditional assets so that they can be easily tracked and exchanged on the blockchain. NEO is also well-known as the “Chinese Ethereum,” and the fact that it is a Chinese-based project does seem to make Chinese dapp developers somewhat more likely to build on top of it than other platforms. In fact, NEO has already supported dozens of ICOs and remains one of the predominant platforms for supporting smart contracts and dapps.
Binance Coin (BNB)
📷 Binance Coin is an exchange token used to reduce trading fees on the Binance platform. Users can opt to pay exchange, listing, and withdrawal fees using BNB and enjoy as much as a 50% discount on all charges. This turns out to be a powerful incentive for purchasing and holding BNB, as what trader doesn’t enjoy saving money on transactions? Binance Coin is an ERC-20 token that runs on the Ethereum blockchain. Its purpose is extremely limited, but because such a vast number of Binance users transact with it every day, it qualifies as a working and active product.
📷 Zcash is another immensely popular privacy coin that often cracks the top 20 cryptocurrencies. It uses the tagline “internet money” and promises to fully protect the privacy of transactions with zero-knowledge cryptography. Zcash provides anonymity by shielding transactions on the blockchain, preventing anyone from seeing the sender, recipient, or value of each transaction. The technology is so effective the Ethereum team is investigating it to enable anonymous transactions on their network. Zcash has grown in leaps and bounds in 2018. The dev team published a roadmap through the year 2020, which includes a major features upgrade in the October 2018 Sapling release. Coinbase is also considering listing Zcash, which is a huge boost for any cryptocurrency.
📷 Qtum is a smart contracts platform similar to Ethereum, only with a stronger focus on value transfers and decentralized apps. It’s meant to be something of a hybrid between Bitcoin and Ethereum, allowing businesses to build smart contracts on the platform or just focus on cryptocurrency transactions. Qtum launched in March 2017, and dashed straight to the top. The initial offering sold over $10 million in tokens after just 90 minutes. The project differentiated itself by providing a rare Proof-of-Stake smart contracts platform designed to compensate for some of Ethereum’s shortcomings, including lack of compatibility for mobile devices. Qtum released its mainnet in September 2017, opening the doors to a fully functional smart contract and dapps platform. Several projects already have an established presenceon the network. One of the more exciting ones is Space Chain, which aims to create an open-source satellite network anyone can use for data transmission, storage, and development.
0x Protocol (ZRX)
📷 0x Protocol has one of the most important working products in the entire Ethereum ecosystem. It is a permissionless, open-source protocol that facilitates trustless exchanges of Ethereum tokens through relayers and dapps that build on top of the protocol. Not only has 0x been providing this functionality for over a year now, but they’ve been working to expand the protocol functionality significantly since that initial launch. In 0x protocol 2.0 and beyond, it will be possible to trade tokens built on standards besides ERC-20, including non-fungible ERC-721 tokens. In a market full of scams and vaporware, 0x’s valuable contributions to the Ethereum ecosystem have made it one of the best performing cryptocurrencies of 2018.
📷 Bytecoin is another popular privacy-focused cryptocurrency with a strong community and user base. Transactions on the Bytecoin blockchain are instantaneous, untraceable, unlinkabe, and resistant to blockchain analysis. Bytecoin has been around for a long time now, with contributions to the project beginning in 2012. However, that hasn’t stopped the project’s developers from continuously improving the product. The recently updated Bytecoin roadmap has a hard fork for a consensus update scheduled for August 31, as well as numerous initiatives for community growth constantly in the works.
📷 Founded in 2015 by former Bitcoin developers, Decred’s most important working product is its solution to Bitcoin’s biggest problem. No, not scalability… blockchain governance. You see, early Bitcoiners have been debating block size limitations and the efficacy of other scalability solutions like the Lightning Network for years, even though the problem of scalability really only became discussed in the mainstream in 2017. With its community-based governance model and strong adherence to the core ethos of decentralization, Decred is built to evolve and improve rapidly. That means that it’s equipped to handle not only the scalability problem today, but other big problems that might arise down the line. When you have poor governance, it is an arduous process making any upgrades to a project, no matter how necessary they may seem to the majority of coin holders. Decred’s best-in-class and still improving governance model give it an intriguing case to be a leader in digital payments for a long time to come.
📷 BitShares aims to improve worldwide access to financial services via blockchain. The tagline “assist the unbanked” summarizes the project nicely. In practice, this translates to BitShares operating as a decentralized exchange, one that was built from the ground-up to avoid scalability issues and keep transaction fees low. BitShares was launched in 2014 by Dan Larimer, who would then go on to take a lead development role in both EOS and Steem. The current state of the project offers decentralized asset exchange, price-stable cryptocurrencies, recurring and scheduled payments, user-issued assets, and more, all available through a decentralized system powered by delegated PoS consensus.
📷 Steem is the cryptocurrency that powers Steemit, a decentralized social media platform that incentivizes user participation through micropayments. Think of it like Reddit, only instead of just upvoting or downvoting posts, users can actually reward creators for their effort. Steem is a functional cryptocurrency used exclusively on the Steemit platform. That gives it something of a limited use, but seeing as how Steemit is live and boasts a few hundred thousand users, it’s hard to argue it isn’t a working product. Some people may even beearning money using Steemit.
📷 Siacoin is one of the leaders in decentralized cloud storage, a more secure and affordable alternative to centralized cloud storage solutions like Amazon S3, Google Drive, iCloud, Dropbox, and others. Sia 1.0 was launched in June 2016, and has achieved considerable adoption since then. With the $200 billion cloud storage market widely seen as one of the spaces most ripe for blockchain disruption, Sia has gotten off to a nice start by offering a functional decentralized cloud storage platform for over 2 years.
📷 Augur is one of the most recently launched products on this list. The platform mainnet went live in early July 2018, bringing to fruition almost 4 years of post-ICO work. Augur is a decentralized prediction market that uses game theory to generate crowd-sourced insights. Essentially, thousands of people working together have shown the remarkable ability to forecast outcomes. With Augur, users can put REP tokens as bets on these predictions, essentially creating a form of “useful social gambling.” Augur’s release was a long time coming. The project started as far back as 2014, nearly a year before the ICO. The creators cite the complexity of Augur’s smart contracts as the chief cause of the lengthy development time. Regardless of its past, Augur is now a live product with a bright future. Over 300 predictions have already been made, with the largest winning payout hitting $20,000. Betting volume even exceeded $1 million within the first weeks of launch.
Basic Attention Token (BAT)
📷 Basic Attention Token was one of the easiest projects to include on this list. That’s because its working product, Brave Browser, has more than 3 million active usersbetween its mobile and desktop platforms, making it one of the most widely-used working products in the blockchain space. Not only is Brave Browser functional, it’s the only browser on the market that has built-in ad-blocking and tracker blocking, making the browsing experience both cleaner and faster than what you get with other popular browsers like Chrome and Firefox. The future remains uncertain for the BAT token itself, as its adoption depends heavily on whether or not advertisers buy-in to the Brave model, as well as how willing Brave users are to be shown relevant ads and to pass along the BAT they earn to content publishers. Given Brave’s success in just a short time since being launched, though, the future does appear promising for BAT.
📷 Nano (formerly RaiBlocks) is all about scalability. The coin has nearly instant transactions with a completely fee-less structure. The platform accomplishes this by creating a unique blockchain for every account, preventing bloat and allowing for practically infinite scalability. Nano’s motto of “do one thing and do it well” has gotten them a long way. The team doesn’t have to deal with scaling or slowdown issues thanks to the underlying structure of the project, allowing its roadmap to focus on wallet updates and outreach. This is one cryptocurrency that’s essentially feature complete, and it has been for some time.
📷 Golem has set out to be the Airbnb of computing resources. Have you ever needed extra GPU power to finish up a render? How about processing scientific data similar to the [email protected] project? Even if you don’t have those needs, a lot of groups do. Golem aims to provide easy access to those resources, all of which are rentable for a small cryptocurrency fee. Golem hit the mainnet launch button in April 2018, and was met with a fair amount of fanfare. One of the main goals for the feature-incomplete launch was to push the product out so real users could put it to work. The team was interested in strengthening their interactions with end users to help guide the future of the platform. The team has several major milestones planned for the coming months, so the mainnet release is only just the beginning.
Pundi X (NPXS)
📷 Pundi X has been shooting up the market cap rankings so far in Q3 2018, and they also happen to have a working product that just recently became available to retailers. The primary Pundi X product is a point-of-sale (POS) device that enables quick and easy mobile transactions for both fiat and cryptocurrencies. 500 POS devices are already being used by retailers in Asia, and there are thousands more scheduled to be distributed in the coming months. In addition, Pundi X also offers XPASS cards, cryptocurrency credit cards that can work in place of mobile apps for making digital payments. What makes the Pundi X project noteworthy is that it enables consumers to pay retailers in cryptocurrencies like BTC and ETH, and it immediately converts the payments into local fiat currencies so that retailers don’t need to worry about price volatility of the cryptocurrencies. This makes it significantly easier for people to use cryptocurrencies in their daily lives, making Pundi X an exciting project for blockchain enthusiasts who are looking for signs of future mass adoption.
📷 Waves was the first ever blockchain platform that made it possible for anybody — regardless of their programming experience — to create blockchain tokens. Additionally, Waves has a decentralized exchange where tokens can be traded and exchanged with fiat currencies. Since the project’s first releases in 2016, Waves has gone on to make their DEX accessible from mobile phones and expanded its functionality significantly, while also building several strategic partnerships to help grow the Waves community and user base. Ultimately, though, the Waves Client is the project’s most important working product, as it is what allows tokens to be issued, stored, sent, and exchanged among users.
KuCoin Shares (KCS)
📷 Similar to Binance Coin, KuCoin Shares is an exchange token that can be used to pay reduced fees on cryptocurrency trades. KCS has the added bonus of paying dividends to long-term hodlers, as well, paying out a 5% ROI for most users. The nature of KuCoin Shares is one of the reasons the KuCoin exchange has gotten so much attention since it appeared on the scene. The tokens themselves are limited in scope, of course, but the sheer number of people using them for trades and buying them for passive income is enormous.
📷 Wanchain aims to build new and improved financial infrastructure to seamlessly connect the digital economy through blockchain interoperability. The use cases for Wanchain’s network are vast, and they include decentralized financial services, supply chain logistics, medical data sharing and security, digital ID management, and more. With the recently released Wanchain 2.0, it is now possible to transfer Ether cross-chain using Wanchain’s Ethereum Mapping Token, WETH. Ethereum interoperability is just the start, though, and it’s expected that cross-chain support for Bitcoin and a couple of ERC-20 tokens will follow before the end of 2018.
📷 Komodo is a fork of Zcash that uses the same zk-snark cryptography to hide information about transaction participants and amounts being sent. Functional privacy coins aren’t unique (there are a handful on this list) but Komodo does have some unique features. For one, Komodo was the first ever decentralized initial coin offering. Moreover, Komodo helps other developers to build their own customizable blockchain solutions, from building and securing independent blockchains and launching decentralized ICOs, to integrating projects into the cryptocurrency ecosystem. KMD would already qualify as a working product for its anonymity features on digital payments, but add the end-to-end blockchain building solution and it’s clear that Komodo is making meaningful contributions to the cryptocurrency ecosystem.
📷 Ardor is a scalable blockchain platform that allows businesses to create their own child chains and tokens with relative ease. This helps keep blockchain bloat to a minimum and provides multiple transactional tokens without sacrificing core chain transactions. It’s also a remarkably energy efficient platform that uses Proof-of-Stake to power consensus. Ardor launched its mainnet on January 1, 2018 after a full year in testnet status. Its core features are largely in place, with the roadmap set to improve things like scalability and snapshotting. The Blockchain-as-a-Service-platform hosts a few projects of its own, including the Ignis ICO, which was the first child chain on the mainnet.
Huobi Token (HT)
📷 Huobi is a digital asset exchange platform founded back in 2013, now offering well over 250 different trading pairs. The Huobi Token, meanwhile, is an ERC-20 token that is used on the exchange for discounts on trading fees of up to 50%. In addition, 20% of the income generated on the Huboi Pro trading platform is used to buy back HT on the open market. Unlike most buyback programs, the main purpose of Huobi’s program isn’t to reduce the circulating supply of HT. Rather, the HT that is bought back goes into a Huobi Investor Protection Fund, which is used to compensate Huobi users if they lose coins or tokens on the platform, as well as to ensure market stability and protect investor interests.
📷 ZenCash is yet another privacy coin with a working product in the Top 100, originally launched in the first half of 2017. What makes ZenCash unique is that it’s the first blockchain with Transport Layer Security (TLS) integration for node encryption, making communication on the ZenCash network both private and highly secure. Some other interesting parts of the ZenCash product include Tor nodes and built-in chat messaging services. In the future, the ZenCash team will deliver a DAO Treasury Protocol-level Voting System as well as a scalability solution to handle greater transaction volume.
📷 PIVX is another privacy coin that focuses on keeping users and their associated transactions hidden under a cloak of secrecy. The project also tries to keep transactions as fast and fee-less as possible, something not all privacy platforms can boast about. PIVX launched in January 2016. The coin is currently spendable and delivers the privacy features it promises, though it’s not yet a widely accepted currency by merchants. Future plans for PIVX include governance functions to engage the community, wallet voting, and its own zPIV decentralized exchange.
Kyber Network (KNC)
📷 Kyber Network launched their mainnet in Q1 2018, enabling instantaneous and secure inter-token settlements through a Decentralized Liquidity Network. It’s currently possible to swap ERC-20 tokens on the network with just a few mouse clicks, giving it some basic functionality that is already being used to improve liquidity for Ethereum tokens. In the future, however, Kyber Network will expand its functionality significantly in an effort to seamlessly connect dapps, DEXes, protocols, payment systems, token teams, investors, fund managers, and digital wallets.
📷 Bancor is a liquidity provider that enables users to exchange tokens without the need for a third-party to be involved in financing the transaction. Gaining liquidity is incredibly important for young cryptocurrency projects, as a lack of liquidity makes it risky for investors to buy a considerable amount of a given coin or token, knowing that it might be exceedingly difficult to sell should they wish to. Bancor’s technology makes it possible to convert one token to another, so that investors can be confident that they won’t be stuck involuntarily holding a cryptocurrency that they want to sell. This functionality makes the Bancor Liquidity Network one of the most promising working products on this list, and one that has already achieved a good deal of adoption.
Loom Network (LOOM)
📷 Loom Network is still less than a year old, having been founded in October 2017. However, they have accomplished a lot in that short time span, including having launched numerous tools to help software developers learn how to build blockchain solutions. The most important of these tools — and Loom’s biggest working product — is the Loom software development kit (SDK). However, Loom Network is far more than just a simple blockchain coding academy. It is also a production-ready scalability solution for Ethereum, as the Loom developer toolkit helps programmers to build highly scalable dapps which connect to the Ethereum blockchain through special side chains called DappChains. The project may still be in its infancy, but Loom Network is already contributing more utility to the cryptocurrency ecosystem than the vast majority of other cryptocurrency projects.
📷 Polymath wants to be the world’s go-to resource for security tokens on the blockchain. What Ethereum did for tokens, Polymath will do for securities. The advantages of this are enormous, but the Polymath team likes to point to 24/7 market access, the elimination of middlemen, and trading access for 2 billion unbanked people around the world as the chief benefits of their efforts. The Polymath platform launched in October 2017, and has since released a new security token every week, attracting investors and traders alike. It’s not as exciting of a project as some other blockchain tech, but it’s delivering on its promises with a working product.
Bibox Token (BIX)
📷 Bibox is a encrypted digital asset exchange whose primary differentiator from other crypto exchanges is that it integrates AI technology. The purpose of the AI is to help Bibox’s traders, which it does by providing quantitative computation and analysis of trading activity, personalized risk allocation strategy, speech recognition, and objective analysis of the various coins and tokens listed on the exchange. The Bibox exchange first launched back in November 2017. It has operation centers in the US, Canada, mainland China, Hong Kong, Japan, and Estonia. BIX token holders receive 20% of the exchange profits, and also get discounts on trading fees, similar to Binance. https://www.investinblockchain.com/top-cryptocurrencies-working-products/
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