Bitcoin vs Gold: How to Secure Your Holdings If WW3 Breaks Out

5 Top Ways to Secure Your Crypto Wallet Against Hackers

Jun 26, 2024

Most of the newbies in crypto urge to buy some tokens and don’t care much about where to keep them. That might be a crucial mistake. Neglecting security can cost you dearly. Be it a credit card with fiat money or your personal home safe with cash, you are probably accustomed to comply with all security measures. Crypto wallets, though, are generally considered to be secure ‘by default’. Just because it is a blockchain, right? The safest technology in the world, isn’t it? So many users never actually think about how secure their crypto wallet is. And sometimes it turns into a financial tragedy, the degree of which depends only on the amount of the lost crypto. No matter if it is 0,00005 BTC or 5 BTC, losing money is always painful. Don’t keep all your cryptocurrency in one place Let’s start with a quite obvious and basic rule that for some reason most users usually ignore. No matter how large the amount of cryptocurrency you own, don’t keep it all in one place. In other words, you need multiple crypto wallets to keep your tokens safe. This is also quite reasonable from the point of view of usability, but we will get back to it in a minute. Security concerns are the reason important enough to conclude that you need more than one wallet. Even if one of the wallets is compromised, only a part of your crypto assets will be stolen. Store you main assets in a non-custodial wallet We’ve covered the differences between custodial and non-custodial wallets. In short, when using a custodial crypto wallet you don’t get your private key (you are never given your key phrase), instead it is being held by the owner of the service you use (a crypto exchange, most often). Basically it means you don’t have the crypto, it is owned by the exchange, you get access to it only through your account. If the account is blocked, you lose the crypto. A non-custodial wallet allows you to store your private key. You and only you can have access to the assets. It’s a bit dangerous because if you lose the key phrase you might never recover your crypto. But it also means that nobody, even the company that developed that software or hardware wallet can’t access your assets. The safest option of course would be the hardware wallet (the cold wallet), but it is not always convenient for many users. So you might go with a crypto wallet in an app for iOS or Android. Just make sure it is a non-custodial wallet. Never store your private key online Even if you were careful enough to choose non-custodial wallets which are quite secure, there is one potential problem. We’ve mentioned it above briefly. Now let’s talk about it in detail. So when you are registering a new non-custodial wallet you are provided with the private key. At the dawn of the crypto era their most common form used to be a long string of random numbers and characters. Which was not particularly user-friendly, as you can imagine. Even writing this key down on a piece of paper was problematic, not to mention remembering it. This is why a better way to display them was gradually adopted. The key can be presented in the form of a secret phrase. So most of today’s crypto wallets do not show you the cryptic private key by default anymore. Instead, the private key is translated into seed words. Depending on the wallet, you will be given either 12, 18 or 24 seed words. Generally, it is a secret key phrase that you might even be able to remember. Especially if you do care about the large amount of crypto stored in that wallet. So when you get the key phrase you are advised to write it down and store somewhere to keep your crypto wallet safe. To many users that would mean copying it so a notes app of some kind. Like Google Keep or Apple Notes. This is not secure! Because in such a way your key phrase will be stored online, being a potential subject to various hacks, scams etc. Google, Apple, Microsoft and others might claim they use strong encryption to protect your data. But we all understand how dubious these statements are. Use a reputable cryptocurrency exchange for buying and selling So you know that it is better to store your crypto in a non-custodial or even hardware wallet. But what if you need some crypto at your instant reach. Maybe you need to buy or sell it from time to time, or do some transactions. A custodial crypto wallet at some crypto exchange is much more convenient for fast transactions. So you might throw a part of your assets there. Just make sure to choose wisely. There are plenty of organizations that call themselves ‘crypto exchanges’. It is better to pay a little bit higher fees but to make sure the exchange will not let you down. There are plenty of famous hack and fraud stories with crypto exchanges. Users have lost literally billions of dollars. Try to choose among the most famous exchanges (Coinbase, Kraken, Binance etc.) and try not to keep too much of your crypto in these wallets anyway. Always secure your network No matter what kind of crypto wallet you use and how many of them you have, it is very important to take care of the network security. Numerous hacks have been made thanks to users who neglect the basic rules of network secutity. First of all don’t use primitive passwords. You might be using a non-custodial wallet but your seed phrase might be stored in the Notes app of your smartphone which is protected with a lock screen password 0000. That’s quite a typical situation today. Many users don’t update their software regularly. Some even feel irritated by the constant update reminders in their operating systems and try to switch them off. Meanwhile in most cases those updates are dealing with security issues. Sometimes a recent security patch might be the only way to keep your crypto wallet safe. Beware of phishing attacks through various pretty ‘innocent’ email links or website forms. Many of them are targeted at crypto wallets specifically, trying to steal your private key or exchange’s login credentials. Be sure to use VPN at all times. It is especially required when you are connecting to a public network with free Wi-Fi. But even at home it is still better to do your crypto transactions being protected by end-to-end encryption from a well-established VPN provider. A few dollars a month for VPN can save your much precious crypto assets.

6 Biggest Crypto Investing Mistakes to Avoid

Jun 21, 2024

Crypto market is risky. Yet, it is one of the most profitable markets humanity has ever invented. How to invest in cryptocurrency so that your money was safe and you could get the most income? Let’s find out. The hype around cryptocurrencies has become so widespread that everyone wants to invest today. Hearing of all those 10x, 20x, 100x made on some unknown meme coins can be rather disturbing. Someone is already driving a brand new Ferrari while you still go to work every day. Why not try to succeed by yourself? It's tempting isn't it? But mind the risks. The amount of money actually makes no difference - besides the sum of your losses, of course - if you are unfamiliar with the basic principles of crypto finance. The thing is that crypto has been - and still is to a certain extent - the playground for enthusiasts. There are many things that beginners can trip over. You may not understand the crypto lingo well enough. You can become a victim of a scam. You can mess up with settings in your crypto wallet. You might accidentally send assets to a wrong crypto address. Plenty of things can happen. And almost all of them will lead you directly to financial losses. What can you do to avoid such troubles and how to invest in cryptocurrency with minimal risks? Let’s take a look at the most common mistakes novice investors usually make. 6 Biggest Crypto Investing Mistakes and How to Avoid Them It’s very easy to get caught up in the hype of news headlines. Crypto mistakes are startlingly common, and below we list some of them. Don’t buy crypto just because the price is low Low prices can be a great seduction. Especially if the coin is falling. It is easy to think that a low price is a great bargain. While sometimes it might be true, mostly prices are low for a reason. Some cryptocurrencies are just losing popularity. You have to try to understand if this is just a price hike and bounce or the coin is just falling at user rates. Some cryptocurrencies are dropped by developers. Later they might be considered dead, but you can be one of those who jump at the wagon going nowhere. Don’t go ‘all-in’ if you are not sure Many trading platforms are eager to squeeze as much money from you as possible. To do that they always make it look like the only option is to invest as much as possible. They say it will maximize the profits, usually not mentioning that it will maximize the losses also. You must remember betting as much as possible is a quick way to the poor house. Crypto investing is not gambling by any means. Do not think crypto is easy money Nothing related to crypto can be considered as easy money. No matter how exactly you are trying to invest, be it simply buying and holding or trading, investing in crypto is just as serious a business as investing in stocks or commodities like silver and gold. If you meet someone who says something different you should understand he or she is probably trying to trick you into making crypto mistakes. Do not fall into scams Please remember, the more attractive the deal looks, the more potentially dangerous it is. Most of the scammers use the attractiveness of the deal as their main weapon. For instance you might receive an email with an “investment opportunity” promising huge income or telling you that if you send them crypto they will double or triple the amount. Offers of free money should always be viewed with great skepticism. As well as the opportunities with less known tokens that suddenly skyrocket. One day someone will come to you pointing at a coin that is gaining 200% a week. That might sound like a great chance to invest. But criminals often easily inflate or deflate the price of very small or unknown cryptocurrencies. There are cases with scammers pre-mining some currency, then skyrocketing it to sell all they have got at the peak to somebody like you, who thinks this coin will still rise. You have to be very careful before buying some crypto you have never heard of. There is also a huge problem with crypto wallets. While there are a large number of famous and well respected wallets, such as Ledger, Exodus, Edge, MetaMask, there are plenty of less known entities. Most of them reside in the App Store and Google Play. Every once in a while you can hear stories of some wallet stealing assets from the users. You can avoid that by carefully choosing a wallet to trust your assets. Don’t forget or lose your crypto keyphrase No matter how carefully you have chosen the wallet, if it is custodian or hardware, then you are the only keeper of the secret keyphrase. Forgetting your keyphrase is like losing the keys to a bank vault. Without your keyphrase, all your cryptos will be irretrievable. Best crypto wallets always remind you to keep the keyphrase safe, but many users don’t pay much attention. And it is also important to notice that the keyphrase should be stored offline. Not in your email where it could be easily stolen from. Send crypto only to verified addresses The address is crucial to the way cryptocurrencies work. Sending assets to a wrong address will in most cases result in their irretrievable loss. Most wallets will remind you to double check the address when you send the assets. But still it is you and only you who is reliable for the final result. Crypto addresses are long and tricky, so it is always safer to copy and paste them rather than type them in. But sending to a wrong address is a potential mistake not only because of the misprints. There is another danger. You can send crypto to the wrong network. It is not likely to happen when you are sending crypto that uses just one network or a few that are interchangeable. But if you are sending, for example, a stablecoin like Tether (USDT) you must be extremely careful. Tether could be sent via different blockchains and if you send it to the wrong one, the coins will be lost forever. Large exchanges like Coinbase have built systems to protect users from such mistakes. You can simply send crypto to a user chosen by his username rather than his wallet’s address. And the exchange’s software will automatically define the correct network to transfer the coins to the appropriate wallet that belongs to that user. Of course, such a technology brings another danger as you might send your crypto to a wrong username. So careful checking of the address or a username of the recipient is of paramount importance. Check everything twice before sending crypto. Takeaways Crypto is no easy game. It might give you enormous, almost marvelous opportunities to get rich. But it can also be a source of great disappointments. Be careful making important decisions. Don't fall into scams and don't think crypto is easy money.

21 Rules of HODLing Bitcoin According to Michael Saylor, the Legendary Crypto Bull

Jun 19, 2024

Michael Saylor, executive chairman of MicroStrategy and a prominent crypto bull, just outlined 21 rules of HODling Bitcoin. Some of them might seem quite trivial. Yet, some of them are absolutely brilliant. Check them out. Saylor was a gem of the recent BTC Prague conference. His keynote was captivating. And some of the things he said might have a huge impact on the market. At least in short terms. What's worth at least Saylor's fantastic prediction of Bitcoin reaching the $8 million per coin mark Or not so fantastic? But another part of his speech might have a bigger impact in long terms. Saylor presented his vision of “21 Rules of HODLing Bitcoin.” Biggest bull on the market, Saylor outlined strategies for managing and sustaining investments in a highly volatile environment. He articulated a philosophical and strategic framework for understanding and investing in BTC. According to Saylor, Bitcoin is so much more than just money. Saylor thinks of Bitcoin as of a financial asset but as a revolutionary tool capable of reshaping global financial paradigms. These rules were consisely summarized by Luke Broyles and published via X. Here they are with comments from market observers. 21 rules of HODLing Bitcoin, according to Michael Saylor #1 “Those who understand buy Bitcoin, those who don’t criticize Bitcoin,” Saylor declared, setting the tone for his discourse on the dichotomy between skeptics and proponents. He argued that recognizing BTC’s potential is akin to seeing a paradigm shift before it fully unfolds. #2 "Everyone is against #Bitcoin before they are for it." Reflecting on his initial dismissive stance in 2013, Saylor recounted how his view evolved as BTC’s resilience and potential became increasingly evident. His personal journey from skepticism to advocacy underscores a common path among investors who often transition from doubt to strong support. #3 "You will never be done learning about Bitcoin,” Saylor stated, emphasizing the complexity and ever-evolving nature of the cryptocurrency. He suggested that BTC’s intersection with global economics, technology, and regulatory frameworks makes it a perpetually relevant subject for study. #4 Drawing historical parallels, Saylor highlighted moments of significant upheaval, such as WWII and the rise of communism in Europe, to illustrate BTC’s value as a non-geopolitical, stable store of wealth. “Buy BTC because entropy is guaranteed,” he asserted, suggesting that Bitcoin provides a safe haven in times of disorder. #5 According to Saylor, BTC offers an equitable opportunity in contrast to traditional financial systems, which he views as inherently skewed against the average person. “Bitcoin is the only game in the casino that we can all win,” he noted, framing it as a uniquely fair and transparent financial instrument. #6 He advised taking a proactive approach to investment, saying, “Bitcoin won’t protect you if you don’t wear the armor.” This analogy was used to encourage substantial, thoughtful investment in Bitcoin to safeguard one’s financial future. #7 Saylor passionately argued that Bitcoin enables a form of ownership unmediated by any third party: “Your cryptographic keys in your head are your wealth.” This, he claimed, is a radical shift from the way assets have been controlled and protected throughout history. #8 Reflecting on the volatility and growth trajectory, Saylor shared a personal anecdote on how he dismissed BTC at $892 to only deserve buying it at $9,500 for the first time. “Everyone gets Bitcoin at the price they deserve,” he remarked. “He then said when Bitcoin is $950,000 people will try to wait for it to crash to $700,000. Then BTC would go to $8,000,000,” Broyles reiterated. #9 Saylor advised only investing money that one can afford to lose, highlighting the conservative approach to adopting new financial technologies. This rule underscores the balance between visionary investment and financial prudence. #10 Describing fiat currencies and traditional economic indicators as “the matrix,” Saylor championed Bitcoin as a means to transcend conventional financial systems. He sees it as not just a technology but a liberation from the restrictive narratives imposed by traditional economic structures. #11 Saylor shared insights from personal experiences where Bitcoin’s impact on his company’s financial stability was profound. “Without BTC, MSTR would have failed,” he disclosed, illustrating the direct impact of strategic Bitcoin investments on corporate finance. #12 Saylor projected a conservative 24% compound annual growth rate (CAGR) over the next decade, setting a potential valuation benchmark and underscoring his confidence in BTC’s sustained growth. Notably, this would price BTC at $600,000 by 2034. #13 Saylor described the current economic system as flawed, seeing BTC as a cure for these inherent issues. “The cure to economic illness is the orange pill,” he said, promoting it as a revolutionary technology that offers a radical update to outdated economic practices. #14 Rather than attacking the fading fiat system, Saylor urged for a positive approach: “Be for Bitcoin, not against fiat,” emphasizing the importance of building a new system rather than destructively opposing the old. #15 According to Saylor, “Bitcoin is for everybody.” He projected that digital capital like BTC could eventually represent half of all value in a future, yet-to-be-imagined world economy, which would significantly drive up its price. #16 “Learn to think in Bitcoin,” Saylor advised, encouraging a shift in perspective to view future technologies and paradigms through the lens of BTC, rather than trying to fit new innovations into old frameworks. #17 “You don’t change Bitcoin, it changes you.” Saylor highlighted how BTC challenges individuals to rethink their approach to money, value, and investment on a global scale. #18 “Laser eyes protect you from endless lies.” Saylor underscored the importance of maintaining focus on the long-term potential, especially when its market price reaches landmarks like $100,000 or $1 million. He envisioned a future where BTC’s market cap could escalate to between $100 trillion and $500 trillion. #19 He cautioned, “Respect Bitcoin or it will make a clown of you.” This rule was a warning against underestimating BTC’s impact and the foolishness of mocking an emerging financial technology that has substantial backing and proven resilience. #20 “You do not sell your Bitcoin.” Saylor likened selling BTC to self-sabotage, suggesting that it is a foundational asset for long-term financial security, much like a life raft in an ocean or a fire in winter. #21 Finally, Saylor concluded with, “Spread Bitcoin with love.” He stressed the importance of patience and kindness in promoting BTC, especially towards those who are initially critical or dismissive of its benefits.

Who Is Satoshi Nakamoto? 10 Craziest Theories on Bitcoin's Enigmatic Creator

Jun 18, 2024

Bitcoin has brought enough change to the world for his creator to become a legend. Who is Satoshi Nakamoto and will we ever find him? And does the CIA have anything to do with it? Satoshi Nakamoto might one day be awarded a Nobel Prize for Bitcoin. Of course, if he ever shows up. Because, you know, these prizes are never awarded anonymously. The fact that in the age in which it is extremely hard to be anonymous, the identity of the Bitcoin creator is unknown tells a lot. No wonder there are plenty of theories about who Satoshi Nakamoto is or was. Some of them are very well reasoned. Some are just preposterous. But still the Bitcoin itself is such an extraordinary revolution that nothing related to it should be approached with ordinary standards. Let’s take a look at some of the most wild theories about who Satoshi Nakamoto is. Satoshi Nakamoto created Bitcoin - what do we know for sure Thirteen years ago a person or group of people using the name Satoshi Nakamoto released a paper describing a new software system called Bitcoin. Bitcoin has sparked a phenomenon that, its proponents believe, might rewire the entire global finance. Today Bitcoin is worth more than $1 trillion. Plenty of competitive cryptocurrencies have appeared. Apart from cryptocurrencies, Blockchain has lit the way for blockchain technologies. Blockchain is now widely adopted in many fields that are not related to finance. NFT (non-fungible token) is also a product of the blockchain technology. And the arising Metaverse is something that can be hardly imagined without blockchain or cryptocurrencies. So how come we still do not know who invented Bitcoin? Who actually is Satoshi Nakamoto? His public life was pretty short. Here is the list of things he had done before he vanished. The public life of Satoshi Nakamoto On Oct. 31, 2008, Satoshi Nakamoto sent a paper to a group of cryptographers. It contained just nine pages outlining a new form of “electronic cash”. This is when the name Bitcoin first appeared. At the time nobody asked questions about Satoshi Nakamoto’s identity. On Jan. 9, 2009, Satoshi Nakamoto launched the Bitcoin network. A few cryptographers helped him remotely to get the network running. The first Bitcoin transaction went from Satoshi Nakamoto to one of those scientists. December, 2010, Satoshi Nakamoto stopped posting publicly. He had published messages on forums and exchanged private emails with the Bitcoin developers until he passed leadership of the project to a software developer Gavin Andresen. None of Satoshi Nakomoto’s messages ever mentioned anything personal. All of them have been thoroughly analyzed since then, but there aren’t any clues to who Satoshi Nakamot is. Everything he ever wrote was about bitcoin and its code. It is impossible to find out who registered the website that Satoshi Nakamoto was using to promote his ideas to developers. Two email addresses his letters came from also vanished. One possible clue to Satoshi Nakamoto’s identity might be hidden in his personal wallets. Yes, Satoshi Nakamoto disappeared having mined over 1 million BTC. These coins have not moved yet. Today those BTC are worth about $55 billion. That would make Satoshi Nakamoto one of the 30 richest people in the world. He actually could have bought Twitter instead of Elon Musk, if he wanted. Whoever moves these tokens now would probably be Satoshi Nakamoto. What is the reason for Satoshi Nakamoto to hide his real identity? In the early years, members of the cryptocurrency community assumed that Satoshi Nakamoto remained anonymous mainly out of fear. He could be afraid of getting arrested or something. It was yet to be seen if Bitcoin would be widely accepted and not approached as something illegal and criminal. Who is Satoshi Nakamoto? What are the most relevant theories? Over the years many people were pegged as “the real Satoshi Nakamoto”. At the same time many people have voluntarily claimed to be him. And in all the cases there was not enough evidence. Who is Satoshi Nakamoto if not Dorian Nakamoto? Dorian Nakamoto, who graduated in physics from California Polytechnic and worked on classified US defense projects, is a Japanese-American scientist. He clearly showed libertarian leanings, just as Satoshi Nakamoto in his papers. This version seems to be the most reasonable. Even Newsweek claimed Dorian Nakamoto to be “that Nakamoto”. Back in 2014, the magazine made the first high-profile attempt to reveal the identity of Bitcoin's founder. That was a clear sign that Bitcoin was going mainstream. But Dorian Nakamoto denied the claim. He told media he had nothing to do with Bitcoin. Hal Finney was Satoshi Nakamoto? One of the earliest theories claimed that the answer to the question of who Satoshi Nakamoto is was pretty obvious. Hal Finney, a cryptographer who worked with Satoshi closely in the early days of Bitcoin, was the first suspect. Satoshi Nakamoto allegedly made his first Bitcoin transfer to Finney. Why wouldn’t we assume that there was no mysterious Bitcoin creator with Japanese roots? Maybe Hal Finney is Satoshi Nakamoto? Finney denied such allegations. He died in 2014, so even if he was Satoshi we will probably never find out. And those $55 billion will remain untouched forever. Gavin Andresen is Satoshi Nakamoto? Andresen is alive and has always denied any possibility for him to be Satoshi Nakamoto. There hasn’t been evidence to prove otherwise. The main reason why people keep thinking of Andresen while trying to answer the question “Who is Satashi Nakamoto” is that Andresen is the person responsible for Bitcoin development in 2011-2012. Exactly when Satoshi was already absent. Andresen became “core maintainer” and chief developer of the open source code that defines the rules of Bitcoin. He used Satoshi Nakamoto’s legacy and diligently worked full-time on the Bitcoin code for years. Andresen conceived the nonprofit Bitcoin Foundation which is now the closest thing to a central authority in the world of Bitcoin. He denied the claim that he was Satoshi Nakamoto. But many people think that even if he isn’t the mysterious creator of Bitcoin he might still know who Satoshi Nakamoto is. Nick Szabo is Satoshi Nakamoto? Nick Szabo is a computer engineer who had actually worked on something very much like Bitcoin years before Satoshi Nakamoto appeared. He conceptualized a decentralized currency he called Bit Gold. It has some obvious resemblance with Bitcoin. And he proposed an idea of smart contract in 1996. No wonder many experts started seeing a possibility for Szabo to be Satoshi Nakamoto. In 2014, a group of researchers at Aston University in Birmingham, England, carried out a linguistic analysis of all the correspondence of Satoshi Nakamoto in the early days of Bitcoin. The researchers concluded that Szabo was most likely to be Nakamoto. Szabo has denied the claim. No other evidence to that theory has ever been published. Elon Musk mentioned Szabo in one of his interviews as a possible candidate for the role of Satoshi Nakamoto. He claimed Szabo was “more responsible for the ideas behind Bitcoin than anyone else.” Craig Wright is Satoshi Nakamoto? This is a more interesting story. Craig Wright is an Australian programmer who lives in London. In 2016 he claimed to be Satoshi Nakamoto. The Bitcoin community did not give him a warm welcome. His claims were quickly rejected. Wright was eager to stand with his claims. He even pledged to prove he was Nakamoto by moving some of those early bitcoins. He also sued some media who tried to announce his claims false. Yet to this date, he hasn’t done anything that could make us believe he actually is Satoshi Nakamoto. Even the British judge ruled that Craig lied about being Bitcoin creator. Dave Kleiman was, well, a part of “Satoshi Nakamoto”? Wright’s story seems a bit more intriguing when you remember the Florida lawsuit. Wright himself was sued by the family of his deceased colleague named Dave Kleiman. The suit claimed that Wright actually had been developing Bitcoin together with Kleiman. And as a result of this business partnership Wright owed Kleiman’s family half of those Bitcoins they had mined. There was a trial process, almost Hollywood alike. But the jury found no evidence that Wright and Kleiman were Bitcoin creators, separately or jointly. Could Elon Musk be Satoshi Nakamoto? That might be one of the weirdest ideas ever. But still some people think Elon Musk could have something to do with Bitcoin development. The theory has been around for years. However, Musk has denied these allegations. His direct answer to one of his Twitter followers points to a fact that Musk does not own any BTC. Of course, putting Musk in charge of literally everything now is quite trendy. Recently a theory has been announced that claims Elon Musk and Vitalik Buterin are responsible for Shiba Inu. Seeing Musk as Satoshi Nakamoto is something any of his true fans is eager to do. Musk is a genius, right? He put us all into electric cars, he is about to send humanity to Mars. Why couldn’t he also invent the revolutionary cryptocurrency? But no matter how attractive this idea might seem, we have absolutely no evidence for it whatsoever. Who is Satoshi Nakamoto? Nothing but a puzzle! Well, that’s another wild theory. Years ago some people supposed that Satoshi Nakamoto might be a group of people actually hiding behind that name. If the theory is true, the name Satoshi Nakomoto might not mean anything at all. For instance, it could have been taken from the phone book. Or it may be a puzzle. What if people from that mysterious group of thinkers not only created Bitcoin but also tried to tell us something with that strange name? Could “Satoshi Nakomoto” be just a puzzle? Well, if it is. What does it tell us? At the moment, there are two quite wild theories about that puzzle. According to the first of them, in Japan names are presented by surname first. So we need to write it as Nakamoto Satoshi. If you take a Japanese dictionary and look up the word Nakamoto you will find it means “central origin”. Looking up the word Satoshi gives us “wise” or “clear thinking”. You could also derive the word “intelligent” from it. So adding a little imagination could easily lead you to assume that Satoshi Nakamoto is Central Intelligent. Which basically means we are talking about the CIA. Another conspiracy theory shows that Satoshi Nakamoto could have been a corporate consortium. The name Satoshi Nakamoto, in this theory, derives from these four names: SAmsung, TOSHIba, NAKAmichi MOTOrola.

5 Ways to Cash Out Bitcoin & Crypto Instantly in 2024

Jun 13, 2024

Buying cryptocurrencies has always been easier that cashing out. What are the easiest ways to to that? Of course, true crypto warriors dislike the very idea of cashing out. Bitcoin maximalists believe that all you have to do is HODL, whatever happens. Because, you know, as they say 'when in doubt zoom out' and that explains everything. However, there are situation when you might want to get some cash. And your crypto ways are the best - or the only! - way to do it quickly. Cashing out Bitcoin and other cryptocurrencies can be a bit tricky. And it is definitely more difficult that buying crypto in the first place. Knowing how to convert your digital assets to cash is essential. Here are five effective methods to cash out Bitcoin and other cryptocurrencies instantly. Cryptocurrency Exchanges This is probably the easiest way to cash out crypto instantly. Exchanges like Coinbase, Binance, and Kraken allow users to sell Bitcoin and other cryptocurrencies directly for fiat currency. There are some caveats, of course. This method might require you to send your crypto from a non-custodial wallet to your exchange wallet. It requires you to pass the KYC procedure. And of course, as any other legal way, this one includes taxes. How it Works: Firstly, you create an account. Don't worry, all you have to do is just sign up on the exchange platform. Then complete the KYC (Know Your Customer) process. Transfer BTC to the exchange wallet. Place a sell order for the amount you want to sell. Here you can choose a market order for an immediate sale or a limit order for a specific price. Though some exchanges simply buy the crypto from you. That's the most convenient way. Lastly, withdraw fiat. It would land on your exchange's linked debit card. Pros: Ease of use: User-friendly interfaces. Liquidity: High trading volumes ensure instant transactions. Cons: Fees: Transaction and withdrawal fees. Regulation: Some exchanges have strict regulatory requirements. Peer-to-Peer (P2P) Platforms A very popular way to sell crypto easily and fast. Though it requires some knowledge and skills. P2P platforms like LocalBitcoins, Paxful, and Binance P2P connect buyers and sellers directly. You are selling crypto to other users without intermediaries. The exchange is just overseeing the deal. How it Works: Sign up on a P2P platform, create a sell offer, specify the amount of BTC you want to sell and the payment method. The platform then matches you with a buyer based on your criteria. Once the buyer transfers the agreed amount of fiat currency, you release the BTC. Pros: Multiple payment options: Bank transfers, PayPal, cash, etc. Privacy: Less stringent KYC requirements. Cons: Risk: Potential for scams and fraud. Time-consuming: Matching and completing transactions can take time. Bitcoin ATMs There was a time when Bitcoin ATMs were seen as the easiest way to ensure wide crypto adoption. The number of those ATMs kept rising for a while, yet now they are less popular. It was no the way Satoshi dreamt of Bitcoin, the hard core fans say. Anyway, if you find one near you, why not use it? Bitcoin ATMs provide a quick and convenient way to sell BTC for cash. How it Works: Locate a BTM. You can do it by using a service like CoinATMRadar. Verify your identity: Depending on the amount, you may need to provide ID. Follow the on screen instruction - don't worry, they are "for dummies". Send the BTC to the BTM’s wallet address. Wait for the machine to dispense cash equivalent to the sold BTC. Pros: Instant cash: Immediate withdrawal. Convenience: Easy to use, available 24/7. Cons: Fees: High transaction fees compared to other methods. Availability: Limited number of BTMs. Over-the-Counter (OTC) Trading OTC trading is suitable for large transactions, offering privacy and minimal market impact. Platforms like Genesis Trading, Circle Trade, and Kraken OTC provide these services. How it Works: Reach out to an OTC trading platform.Discuss the trade specifics, including price and volume. Transfer BTC to the OTC desk, and receive fiat in return. Pros: Privacy: Discreet transactions. Volume: Suitable for large trades. Cons: Access: Typically requires high minimum transaction amounts. Fees: Negotiable but can be significant. Crypto-Backed Loans You can get some fiat cash without actually selling your Bitcoin. Or any other crypto, for that matter. Crypto-backed loans can be found on numerous platforms. Most popular among those are Nexo and YouHodler. Basically they allow you borrow fiat currency against your BTC collateral. How it Works: Sign up on a lending platform, then deposit BTC as collateral. Get a loan and receive fiat currency as a loan against your BTC. Repay loan - pay back the loan to reclaim your BTC or forfeit it if you default. Pros: No need to sell BTC: Retain your BTC while accessing cash. Flexibility: Various loan options and terms. Cons: Interest rates: Loan interest can be high. Risk of liquidation: BTC collateral can be liquidated if the value drops. Takeaways If you are not a dedicated hodler - oh god, how is it even possible! - you might want to try some of these ways to cash out Bitcoin. Some of them are transparent and straightforward. Yet, they require KYC procedure. Other are fast, but might require some skills not every novice crypto user possesses.

The bullish brigade: 10 high-profile Bitcoin optimists and their most dire predictions

May 31, 2024

Some people just can’t stop telling us that Bitcoin’s next incredible peak is literally just around the corner. Bitcoin, the pioneer of cryptocurrencies, has been a topic of heated debate since its inception in 2009. While some dismiss it as a speculative bubble, others hail it as the future of finance. Amidst the cacophony of opinions, there are notable optimists who stand firm in their belief that Bitcoin will revolutionize the financial landscape. Let’s delve into the reasons behind Bitcoin's volatility, the varied predictions for its future, and highlights ten high-profile optimists who have made bold predictions about Bitcoin recently. Why predictions vary so much But firstly let’s try to understand why Bitcoin provides so much basis for a wide variety of predictions. The legendary volatility of Bitcoin Bitcoin's price swings are legendary. One day it’s hailed as digital gold, the next, it’s branded as a speculative bubble. Several factors contribute to this volatility: Market Sentiment: News, both good and bad, can cause drastic price changes. Regulatory news, technological advancements, and macroeconomic factors all play a role. Liquidity: Compared to traditional assets, Bitcoin has lower liquidity. Large trades can significantly impact its price. Speculation: A significant portion of Bitcoin trading is speculative, leading to rapid price swings. Regulatory Environment: Uncertainty around regulatory policies globally adds to the volatility. Market Maturity: As a relatively new asset class, Bitcoin is still finding its footing, leading to instability. Reasons why some believe Bitcoin might rise The prophets of Bitcoin's rapid and explosive growth are not optimistic out of the blue. Their conviction is based on a number of factors that were originally mentioned by Bitcoin's legendary founding father Satoshi Nakamoto. Here are those few crucial factors: Scarcity: With a maximum supply of 21 million coins, Bitcoin's limited supply could drive up prices. Institutional Adoption: Increasing interest from institutional investors lends credibility and stability. Hedge Against Inflation: Seen as digital gold, Bitcoin is considered a hedge against fiat currency devaluation. Technological Innovation: Improvements in blockchain technology and increased use cases boost confidence. Growing Acceptance: More merchants and platforms accepting Bitcoin as payment add to its legitimacy. Network Effect: As more people use Bitcoin, its value and utility increase. Decentralization: Lack of central control makes it appealing in a world of mistrust in traditional financial systems. Public Awareness: Greater understanding and media coverage drive interest and investment. Global Reach: Bitcoin is accessible worldwide, providing financial services to the unbanked. Resilience: Despite numerous challenges, Bitcoin has survived and thrived, demonstrating its robustness. Ten high-profile predictions for Bitcoin In the last year alone, many famous personalities have regaled us with a whole set of sparkling predictions about the future of Bitcoin. Jack Dorsey The co-founder of Twitter and Square remains a steadfast Bitcoin advocate. Sometimes he predicts that Bitcoin will become the world’s single currency within a decade. Sometimes he just names the number Bitcoin price will reach. Last time it was $1,000,000. Dorsey’s companies have invested heavily in Bitcoin, signaling his long-term confidence. Robert Kiyosaki The author of "Rich Dad Poor Dad" believes Bitcoin will hit $500,000 by 2025. Kiyosaki views Bitcoin as a hedge against economic instability and a critical component of financial literacy. Cathie Wood CEO of ARK Invest, Wood predicts Bitcoin could reach $500,000 by 2026. She argues that increased institutional adoption and Bitcoin’s role as a hedge against inflation will drive this growth. Michael Saylor CEO of MicroStrategy, Saylor has led his company to acquire over 100,000 Bitcoins. He forecasts Bitcoin reaching $1 million within five years, citing its superior store of value properties compared to gold. Tim Draper The venture capitalist maintains his prediction that Bitcoin will reach $250,000 by the end of 2024. Draper highlights Bitcoin's increasing adoption and its potential to transform several industries. Tom Lee Co-founder of Fundstrat Global Advisors, Lee believes Bitcoin could surge to $200,000 in the next few years. He points to macroeconomic factors and growing institutional interest as key drivers. Raoul Pal Former Goldman Sachs executive and founder of Real Vision, Pal predicts Bitcoin could hit $1 million by 2030. He emphasizes Bitcoin’s potential to become the global reserve asset. Anthony Pompliano Co-founder of Morgan Creek Digital, Pompliano forecasts Bitcoin reaching $500,000 by 2025. He bases his prediction on the exponential growth of Bitcoin’s adoption and its fixed supply. Mark Yusko CEO of Morgan Creek Capital Management, Yusko projects Bitcoin will hit $400,000 over the next decade. He believes Bitcoin's market cap will surpass gold's as it becomes a primary store of value. Mike Novogratz Founder of Galaxy Digital, Novogratz predicts Bitcoin will reach $500,000 by the end of 2024. He attributes this to increasing institutional investment and Bitcoin’s fixed supply limiting inflationary pressures. Conclusion The future of Bitcoin remains a hotly contested topic, with significant variation in predictions even among its staunchest supporters. However, the high-profile optimists outlined above provide a compelling case for Bitcoin’s potential to achieve remarkable valuations. Each of these optimists brings a unique perspective to the potential future value of Bitcoin, often combining a mix of economic insight, technological passion, and sometimes, a good dash of wishful thinking. Their bullish forecasts share a common thread: a firm belief in Bitcoin's transformative potential—a true digital gold rush in the making. Whether Bitcoin will fulfill these lofty expectations remains to be seen, but its journey will undoubtedly continue to captivate the financial world.

Bitcoin vs Gold: How to Secure Your Holdings If WW3 Breaks Out

What would happen to cryptocurrencies if WW3 broke out? How could crypto exist during the nuclear war? Maybe it is better to invest in gold until it is too late?

Is WW3 actually possible?

What would happen to Bitcoin in WW3?

Would there be a need for crypto in WW3?

Bitcoin is here to save

But what about long term savings?

What could happen to Bitcoin technology during WW3?

Bitcoin vs Gold in WW3

Bitcoin pros

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