Reviews

Theworldbank Wallet Review

September 20, 2019 by TheCryptoToday Leave a Comment

1. Introduction to cryto wallet Theworldbank Wallet:

Theworldbank Wallet is a technology product of WB Develop and Technology PTE LTD

Theworldbank Wallet cryto wallet issued a token: World Bank Token (WBT)

Project information Theworldbank Wallet

Official launch date: June 25, 2019

Origin: Singapore

Business code: 201923843C

Capitalization: 1.2bil $ sing

Home: https://wbankwallet.com/ (Login to the website to speak)

Guide to download the app, install the app

Blockchain wallet is decentralized

– Register an account on the Wbank Wallet app

– Back up wallet with 12 characters

– Importing private key of all app wallets with the same platform can log into the app wallet of Theworldbank Wallet

1.1 Solutions Theworldbank Wallet has a comprehensive opportunity to invest in crypto wallets?

What is WBank Wallet crypto wallet?

Theworldbank Wallet desires the freedom that Blockchain has provided globally to anyone who voluntarily participates in a decentralized network.

WBank Wallet is the world’s first decentralized electronic wallet, based on ERC-20. Completely based on Blockchain technology. Wbank Wallet wallet is the first wallet to integrate DEX “Your money is safe”.

This system has an attractive mechanism. It generates stable revenue from DApps Ethereum, Games, etc. This is the largest ecosystem based on ETH ever.

WBT: $ 0.778 (August 15, 2019)

2. Register your account right on imtoken or trust wallet, myether ….

This means there is no need to use Theworldbank Wallet’s app wallet and still be able to experience the WBank Wallet system, by linking on Dapps systems of other e-wallet apps such as: Imtoken, Trust Wallet … or whatever Any app wallet on the ETH platform or integrated decentralized feature.

And the most standardized model right now is Stacking on the app wallet of Theworldbank Wallet, which is on the way to follow that success. It can be said that this is the next trend of investment wave in the app wallet.

Stacking model is the model being used by many big coins. It means that when you invest in Theworldbank Wallet system, you must lock a WBT salary corresponding to the USD value you want to invest, this makes WBT scarce, preventing inflation, increasing the value of Worldbank Token (WBT).

(Go to imtoken to create an account)

2.2 Not just a decentralized cryto wallet, we pass the bank’s limit, we are a complete ecosystem of DAPPs (decentralized applications)

2.2.1 Decentralized trading exchange integrated in crypto wallet:

– We declare that WB Wallet is the first standardized decentralized crypto wallet on the Blockchain ETH platform and has a built-in trading platform.

– Currently on ETH platform there are decentralized trading exchanges such as IDEX, Bancor, Etherdelta, … and we are proud to be the same decentralized trading platform and integrated in the wallet (where assets are stored). . Currently, WB Wallet DEX has been one of the largest NODEs on the ETH platform.

– Order book, purchase and sale features of the trading exchange (you can buy and sell WBT tokens right on the app)

2.2.3 Extensive Dapps system:

WBank Token is an extension code that maximizes DAPPS system development (decentralized applications).

Our application is open source, all source code is public, which encourages developers to create ideas and implement Blockchain ETH platforms in our own applications.

Currently Dapps has focused on GAME on ETH platform and will soon launch many interesting services and games.

In the future, we aim to have more than 1000 games on the ETH platform released

In Q3 2019, we will release DAPP version of ETH betting game, transparent, independent and decentralized such as BO, Game, Margin, Casino. No longer based on trust mechanism.

2.2.4 The first binary options trading platform on ETH platform will soon be released at the end of Q3 2019

In the crypto market there are many different binary options trading platforms, but in fact, we only see moving paths and numbers.

ETH-based applications will erase false data, create absolute accuracy and above all, everything is transparent and cannot be faked and fraudulent.

2.2.5 Theworldbank Wallet development roadmap

August: Update new updates for app wallet, update the ecosystem
September: Update new versions of the Dapps platform, work with trading platforms preparing for the sale of IEO and coinmarketcap
October: Sell IEO on Fidex trading platform
Continue planning on major exchanges, developing user community

2.2.6 Locate WBank Token

Total supply: 16 million WBank Token and allocated as follows:

Ecosystem (5,000,000 For serving ecosystem)

Angel investors (2,000,000 For investors seed sale)

Listed (3,000,000 For listing and IEO offer)

Lock (5,000,000 unlock after 5 years)

Marketing (500,000 for marketing)

Bonus program (500,000 will be used as bounty)

Electrum Wallet Review

May 31, 2019 by TheCryptoToday Leave a Comment

Electrum is commonly known as the founding software wallet in the digital space community. It was launched back on November 5, 2011, and its interface was mostly designed for the Bitcoin community. Right now, the Electrum is basically known as a desktop Bitcoin wallet that has been supporting the Bitcoin tokens only. Aside from that, it can support computers who works under Windows, Mac, and Linux operating systems. Over the years since it was launched, different developers have contributed a lot to the improvement of the Electrum wallet. These advancements have made ways for most of the people to believe that this Electrum wallet is the most trusted wallet available in the market today.

Despite the numbers of digital currencies traded in the market today, it is good to know that this Electrum focuses on the Bitcoin with the aim to ensure that their platform remains fast, easy, and efficient with its transactions all the time. Aside from being a desktop wallet, it also has integrated to some of the most popular hardware wallets just like the Trezor, the Ledger Nano S, and the KeepKey. This simply means that storing your token is also possible with these premium hardware wallets.

Compatibilities, Cost, and Currencies that work Best for Electrum Wallets

Electrum, having known as a desktop wallet, is specially designed to be compatible with computers with Windows, Linux, and Mac operating systems. Apart from that, it is also good to know that this wallet is compatible and can work best to other major Bitcoin hardware wallets.

This simply means that being a digital asset investor, using Electrum wallet is still pretty good in making safe and fast transactions. When it comes to its charges, the Electrum wallet has a certain charge or transaction fees when sending Bitcoin to another wallet. However, there are certain cases that the default fees can be reduced in some other instances.

When making transactions, the charges are already included in the amount of Bitcoin you wish to send. Meanwhile, it has been learned that the Electrum platform will prompt you up and will give warning whenever the total amount of transaction has exceeded your wallet’s current balance. As of this writing, the Electrum only supports the Bitcoin.

How Secure is the Electrum Wallet?

Being an investor, it is always a primary concern to look into the security of a particular wallet. With Electrum, investors have nothing to worry about as it has been noted as the most secured Bitcoin wallet made available in the market today.

It has been using the so-called encryption techniques and private user keys to ensure its security. Just like any other wallet, the Electrum also generates a seed, which is a random phrase that is used to create private keys. Without having too technical, the Electrum seed is giving the same level of security just as how secured the Bitcoin private key is.

When you are an Electrum wallet user, you have to consider that your seed is vital with each transaction you make. This is the only way for you to recover your password if in any case, you forget about it. Meanwhile, you have to always remember that you will need your wallet password each and every time you are going to send a Bitcoin payment.

The Electrum wallet is known as a widely used platform and of course, a wallet with a great reputation. It is also the best wallet especially for the beginners since it is very fast and is also very easy to set up. It has been notably known for having the right level of privacy features and its integration to the premium hardware wallets made its security a top caliber.

How to Make a Transaction with an Electrum Wallet?

In order to start making transactions for your Electrum wallet, you have to start it by adding a currency inside the wallet. It is easier for you to transfer digital currencies to the Electrum from another wallet and this can be done simply through locating your Bitcoin receiving address. By doing so, you now have a stored token inside your Electrum wallet.

When making payments, you only need to look for the “Send” tab on its interface. Look for the “Pay to” field and it is also where you can type the Bitcoin address, to whom you are sending the payments. When you click send, you will be asked to provide your password that which you created when you started opening your wallet.

While it is true that Electrum wallets also receive payment, you have to remember that your receiving address is very important in order for you to successfully make such transaction. Any person who knows about your address can certainly send you a payment anytime.

How to Get an Electrum Wallet?

In order to get started, getting your own Electrum wallet is a must. You simply need to visit the Electrum official website and have it downloaded to your computer. Meanwhile, if you are using a hardware wallet like Trezor and KeepKey, you can also use the Electrum to store your Bitcoins.

When done with the downloads, setting up the Electrum wallet comes next and it is always just simple, fast, and easy. After downloading, you will be prompted on the method of installation and right after a few more clicks, you will be ready to use the Electrum wallet, one of the most secure and trusted Bitcoin wallets in the digital community.

Electrum is very much excellent when it comes to its installation flexibility that works best for both beginners and experts. Meanwhile, no matter which installation option you choose, make sure to set up your seed phrases as it is important in the recovery of your password in the future.

Summary

The Electrum wallet is undoubtedly one of the best wallets to choose from in the crypto community. Having all these details mentioned in this review, may you now have additional information and knowledge as to what an Electrum wallet can do for you.

(16 votes, average: 1.19 out of 5)

Exodus Wallet Review

May 23, 2019 by TheCryptoToday Leave a Comment

What is an Exodus Wallet?

An Exodus is a known multi-currency wallet and is built in with an easy-to-use user interface. This wallet was launched back in 2016 and it is definitely one of the well-designed wallets that has ever existed in the digital community today. It is aesthetically appealing and is known to have the best features that digital asset investors will surely benefit from.

If you are looking for a wallet that is secured and is very easy to use, then you should consider getting an Exodus wallet. It is definitely a good choice as it is capable of storing a variety of popular digital coins in the market today. It has been learned that the Exodus wallet supports nearly 100 different cryptocurrencies and more and more are being added over time.

The Exodus wallet is available for computers who are working under Windows, Linux, and the OSX operating systems. While it is true that this wallet is yet not available for the mobile users, it is believed that this will soon change and a newer mobile version of the Exodus wallet will be made available soon this year. Furthermore, it has been added that more and more available versions of the Exodus wallet for the iOS and Android users will be added into their website this 2019.

Compatibilities, Cost, and Currencies that work Best with Exodus

The Exodus is the first desktop wallet that is known to have a ShapeShift functionality feature. It also has a popular messaging platform feature that works into different desktops that are powered by compatible operating systems as well.

Being an Exodus wallet holder, you need to be aware that this wallet charges for a transaction fee. Therefore, each and every time you make payments, you have to expect a charge that is incurred with it. It has been said that these fees are used to pay to each of the blockchain networks including Bitcoin, Litecoin, and others, and are not kept by the Exodus alone.

This wallet is known to prioritize the speed and reliability of transactions more than having lower fees. One of the best things about Exodus is that fees can be set manually. It is through such charges that Exodus makes money by taking small portions of fees from the widespread of different asset exchanges.

In order for you to add your currency to your wallet, you need to first purchase it. Once done, you can simply transfer it to your Exodus wallet for safe-keeping. Meanwhile, this wallet is known to store multiple currencies including Bitcoin, Dash, Decred, Vertcoin, Digibyte, Ethereum, Litecoin, Zcash, 0x, Aragon, Augur, Basic Attention Token, Bancor, Civic, DistrictOx, EOS, Edgeless, FirstBlood, FunFair, Gnosis, Golem, Matchpool, Metal, SALT, Storj, Status, WeTrust, Wings, and a lot more!

How to Make Transactions with an Exodus Wallet?

Whenever you need to make transactions like receiving or making payments, it can simply be directly made through your Exodus wallet. Each network charges you with a transaction fee that will be paid directly to the network itself. In order for you to send funds, you only need to click the “Wallet” button on the left portion of the sidebar and just simply select that certain asset you wish to send. After that, you can enter the address of your recipient and just click “Send.”

Meanwhile, if you wish to receive digital assets through Exodus, you just click the “Wallet” button and simply select the digital asset you wish to receive. If you want a Bitcoin or Litecoin, its specific address will just automatically appear within the wallet. You can copy this address and give it to the person in order for you to receive the funds from them.

Apparently, making and receiving payments with this wallet is definitely easy. Its simple user interface has become one of the reasons why more and more investors have preferred using this wallet in keeping and storing their digital assets.

How Safe is the Exodus Wallet Security?

One of the best things about using Exodus wallet is it allows users to have full control of their assets all the time. Being known as a desktop wallet, the Exodus tends to encrypt all your digital assets and will store them directly to your computer. Hence, you have nothing to worry about its safety from hackers and theft.

Apart from that, this wallet has an efficient backup system and is very helpful in times when a particular computer crash accidentally. Further, the Exodus team is learned to have sent emails to its users that give you a secure link that will instantly activate your wallet. This link is usually protected by a 12-word password that is known as the Exodus key.

Despite some of the critics pointing out at the lack of two-factor authentication support for Exodus, this wallet is believed to be fully safe and secure. It has been said that using a desktop wallet is more secure compared to using the other ones.

As a user, you only need to make sure that you have an anti-virus installed on your computer. This will make your digital assets safe especially if you accidentally click on some untrusted links and have downloaded untrusted files online.

The Exodus wallet in itself is accessed only through with a secure password. That is sufficiently enough for the users to tell how safe the wallet is. If you have a large amount of cryptocurrency, it is always best for you to store it to the most reliable wallet you can use in this digital community.

Summary

To sum it all up, the Exodus wallet is secure and has certainly overtaken other wallets online. This is one of the desktop wallets wherein a user can have full control over their private keys and which is generated and store locally on your computer.

If you wish to get your own Exodus wallet, you can directly access the company’s main website and you will be simply given a link to download the wallet directly to your computer.

(13 votes, average: 1.31 out of 5)

Trezor Hardware Wallet Review

March 8, 2019 by TheCryptoToday 10 Comments

When you own Bitcoins, it is the same as owning money. You must secure them in a safe place. But unlike traditional currencies, Bitcoin is a digital currency. Thus, keeping and storing them takes a different approach. Since they don’t exist in any physical form, they cannot be stored in a place like a bank. Enter Bitcoin wallets.

Bitcoin wallets are used to receive, send and store Bitcoins. Think of it as your bank account that has a unique bank account number. Its equivalent is the unique wallet address used for transactions. You will also have private keys (like a PIN) which is what you need to keep in a safe place.

There are three different categories of wallets, hardware, software and paper wallets.

You pick which suits your style. If you are someone who wants quick access to easily track and exchange digital currencies, software wallet might be suitable for you. But if you consider yourself to be a long-term investor, a hardware wallet should be preferred.

Hardware wallet is where you keep your private keys in an offline, physical electronic device. This makes hackers difficult to hack. Thus, considered to be the most secure wallet. There have been no verified incidents of stolen assets from a hardware wallet.

Here are some of the advantages of using a hardware wallet:

Hardware wallets can be used to send and receive transactions at any time.
Sending Bitcoins through a hardware wallet can be done in an unlimited amount of times. This is the opposite with paper wallets as it is allowed only once for security reasons.
Hardware wallets are resistant to computer viruses and malware that try to reveal the private keys. This is because of their built-in encryption procedures that make the private keys unidentifiable to unauthorized parties.
Multiple cryptocurrencies can be stored in one wallet. This makes managing various cryptocurrencies effortless.

With that being said, there are also a few possible vulnerabilities in using one.

Compromised Manufacturing Process – If there is a plan to sabotage something, they will find a way. The firmware and hardware is a possible point of infiltration during the fabrication.
Compromised Delivery Process – Across the delivery time, it’s even easier to remove or replace hardware or software elements if the intrusion is intentional.
Bad Random Number Generator – When you have a bad random number generator, there is a possibility of creating number patterns that could be predicted by a hacker.
Bugs – The security of its hardware or software system is centered on the quality of its fruition. With the hardware wallets, hackers can access the internal structure if the firmware has bugs.
Replacing the Receiver’s Address – A virus or malware on your desktop can track transactions and may replace the destination address. Hardware wallets cannot stop you from sending tokens to a wrong address. It is recommended to use a 2 Factor Authentication to confirm transactions.

With all these possible frailties, a choice of a trusted and reliable company with a good reputation is an important decision to protect your wallet from being compromised.

The three most popular and secured cryptocurrency hardware wallets are Trezor, Ledger Nano S and KeepKey.

Trevor Overview

Trezor pioneered the hardware wallet and became one of the most popular hardware wallets available in the crypto world.

Satoshilabs, a Czech Republic-based company is behind Trezor. It started back in 2011 when Marek “Slush” Palatinus, CEO of Satoshilabs, and Pavol “Stick” Rusnák (CTO) were looking for solutions on how to store Bitcoins in the most secure way. The concept of having a small device that would keep the private keys protected in an isolated environment came up. In 2013, they formed the company that is also responsible for other Bitcoins projects such as Trezor Wallets, “Slush” pool – a popular Bitcoin mining pool, and CoinMap – a worldwide map showing places accepting Bitcoins.

Satoshilabs engages to the Bitcoin community pretty well. This makes them highly respected around the Bitcoin world especially to the veterans of cryptocurrencies.

Design

Trezor looks like a small calculator that has an OLED screen. It has a size of 60mm x 30mm x 6mm and weighs only 12 grams. There is a TREZOR logo on the front side just right above the OLED screen. The OLED display has a resolution of 126 x 64 pixels. On the underside is the MicroUSB port. The top side has an eyelet for a trailer. The back, though, is completely unused.

Price

A hardware device typically costs between $70-$150. Trezor is priced at $99 each. It is one of the cheapest hardware wallets around. When you buy a pack of three, you can get it with $21 less for $276.

Buying Trezor using Bitcoins is possible through their website. If you prefer to use your credit card or PayPal, Amazon is selling. Avoid buying from eBay. There are reports of scams going on.

Shipping is available to many countries with charges accordingly.

Usability

Trezor wallet has a clean and well-designed user interface. It allows you to view transactions with send and receive tabs at the top. At the top left, there is a drop-down menu that gives you the option to switch cryptocurrencies.

Trezor is compatible with desktops, laptops, tablet and cellular phones as it supports Windows, MacOS, and Linux. For on-the-go users, an Android app is available. Another plus for Trezor is that it has a Google Chrome extension to manage the gadget and the data placed in it.

Trezor is designed to secure your private keys from potential online and offline dangers. It keeps them away from the internet. At the same time, the device can confirm transactions. You can check the screen for the correct address, amount and charges before finalizing deals.

The device can be used even with an infected computer without compromising your Bitcoins and your account.

Coin Support

Trezor can keep a huge variety of digital coins. It is also continuously adding more digital coins all the time. Basically, Trezor wallets support 700 coins and ERC-20 tokens.

The main coins that it serves are Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), DASH, Zcash and Stellar (XLM). Yet, due to hardware constraints, certain cryptocurrencies are not fully supported.

Check their website for the list of all coins that are supported.

Security And Privacy

As the pioneer of hardware wallets, security is made sure to be of high quality. Trezor protects you from both physical and digital theft.

When setting up for the first time, a PIN code is required. This is also needed for spending. If someone is making incorrect guesses, the interval between invalid pins will be raised by a power of two. This will take you more than 15 years if you will try 30 guesses.

Since you control the private keys, the entire wallet can be backed up using the 24 words generated during set-up. This 24-word seed is created using RNG (Random Number Generator) from the device and the computer. While being offline, the seed will then be displayed on the screen. Achieving this guarantees that the seed is never on an internet-connected device.

For extra security, you have the option to add a passphrase to the 24-word seed. This additional passphrase will act as the 25th word.

In the event that your Trezor is lost, stolen or damaged, you can recover the entire wallet using the 24-word seed and the passphrase. So, make sure you remember the passphrase as the 24-word seed will not be enough. Without the passphrase, the wallet cannot be recovered. Recovery can be done with another Trezor wallet or with other wallets like Mycelium or Electrum.

Before making an outgoing transaction, you will be asked to confirm it through the device. This feature secures you from hackers doing illegal operations as you need to physically press the buttons on the device for confirmation.

With regards to privacy, Trezor is remarkable. Once you receive the device, Satoshilabs has no way of monitoring your activities. There are no serial numbers on the device. All its software is open source. Not even usernames or passwords are needed when using Trezor.

The only time your data can be leaked is upon setting up your account using Trezor’s myWallet. For private actions, use the Chrome extension. Another option is to disconnect the internet of your computer and use python tools to set-up your device.

Your privacy is determined by the wallet used with Trezor such as Electrum, MultiBit HD and Green Address on desktops. For Android devices are GreenBits and Mycelium. For web is myTrezor.com.

You can refer to this page for detailed information about their security and threats.

How To Set-Up Trezor

Before connecting the Trezor device to your computer/laptop, you must install the Chrome app extension. Alternatively, you can download and install the Trezor Bridge for Mac OS, Linux, and Windows when not using the Chrome browser.

Once done, connect the device and install the firmware. This is not shipped with the device from the factory but instead is loaded onto the device.

After the firmware is installed, you will be asked to confirm the firmware fingerprint. It should be the same as what is on the device screen then press continue.

To complete the installation, the device should be disconnected then reconnect again and continue setting up.

Once reconnected, you can use the Trezor wallet on the browser and start by naming your device. This can also be changed at any time.

You will then be asked to produce a PIN. The device will display a set of random numbers from 0 to 9 just like the picture below. With this pattern, press the corresponding field on the browser for your desired PIN. This helps secure against malware from reading the PIN on the computer.

This will be done twice with the set of random numbers different from the first pattern. The PIN can also be changed at any time through the device options.

Next, the device will show you a list of 24 words. You need to write this set of words down as this is your Recovery Seed. Keep it safe and away from danger. A seed is a list of words that you will use to recover your Bitcoins in case the device will be lost or damaged.

You will be asked to check the 24-word seed again then the PIN and you can start your transactions.You can recover your cryptocurrencies through other wallets. The use of these words as a backup tool is a Bitcoin standard. Again, keep the list in a safe place as this is the key to your cryptocurrencies.

Trezor Vs Ledger Nano S

Trezor and the Ledger Nano S are the top 2 popular hardware wallets. Thus, they are always compared together. Both are making security a top priority and are excellent products. One major difference between the two is that Ledger Nano S is not totally open source and is more secure with password encryption. Trezor is more like a mini computer while the Ledger Nano S uses a secure chip.

Another difference is that in recovering a damaged or lost wallet, you don’t have to connect the Ledger device to a computer. However, Trezor has a more advanced integrated wallet software compared to Ledger. Trezor performs somewhat better in handling and operation.

Trezor Vs Keepkey

These two hardware wallets are almost just the same. KeepKey is like a port of Trezor’s code and firmware. The main difference is the outer look and feel. Trezor is made from plastic while KeepKey is aluminum. This makes the KeepKey feels more like a premium device and making it the most expensive hardware wallet available. But the size of the Trezor is better as it is smaller and easy to handle even with just one hand.

Is It Worth It?

Anybody who is using Bitcoins as investments should make security a top priority. Thus, getting a hardware wallet is a must. Sure, you can get other wallets for free. But the peace of mind you get because of security from using hardware wallets are more valuable than the price of the device.

Trezor wallet is an excellent choice at a reasonable price. The set-up is easy. Its security is top-notch, and the design of the device and its user interface is effective. So yes, it is worth it to get a hardware wallet for the sake of your cryptocurrencies.

KeepKey Hardware Wallet Review

March 5, 2019 by TheCryptoToday 3 Comments

Imagine a hardware wallet as your bank account for all your cryptocurrency – it allows you to send and receive Bitcoins or other assets. This is your personal interface or link to the entire Bitcoin network where you keep your private keys, PINs, and passphrases.

A hardware wallet is simply a device for you to manage your private keys and one of the most popular ones that will be tackled is the KeepKey wallet – a hardware wallet which has been well received by cryptocurrency investors over the last few years.

In terms of hardware wallet users, the main goal of these investors is not to only grow their assets but to keep their assets safe while they are occupied in their Bitcoin transactions online and still have these assets safeguarded while they are offline.

KeepKey is one of the most advanced and secured Bitcoin hardware wallet there is in the market. It is still one of the more expensive hardware wallets today, currently at $129, from its original price of $239 when it was first launched. Nevertheless, you’re guaranteed that your assets are in good hands.

When KeepKey was introduced last 2015, it used state of the art technology to provide users with one of the most protected environment for their cryptocurrency. Since KeepKey is a Hierarchical Deterministic (HD) wallet, one can think of it as a mini computer intended to store private keys that is not only safe and secure but stylish and in-the-now.

KeepKey Overview

Founded in 2014, ShapeShift AG operates a platform to offer Bitcoin and altcoin conversion. Its platform provides Bitcoin and altcoin conversion with a level of consumer protection and efficiency. ShapeShift AG enables users to convert Litecoins, Bitcoins, Peercoins, Darkcoins, Dogecoins, Feathercoins, Blackcoins, Namecoins and many more.

You do not need to create accounts, deposit funds or provide personal information because the company’s aim is to ensure the users identity is safe from theft; this is a critical development in exchange for the technology it offers.

KeepKey is known to be one of the first hardware wallets to offer trading abilities within the wallet. KeepKey is an HD (Hierarchical Deterministic) wallet; it allows users to create and store unlimited number of private keys. A private key is a kind of cryptography that allows users to access their cryptocurrencies or assets.

Design

KeepKey comes in a well-packaged black case similar to that of a smart phone. The black box is sealed in plastic wrap and when removed, you’ll notice that there is a tamper-resistance tape holding the case closed.

This high-quality and durable hardware wallet has a polished and solid design that feels sturdy and maybe a little bit large. The large LED screen gives plenty of real estate to show transaction confirmations in easily readable messages along with QR codes.

It has a single button which is used for confirming transactions which is conveniently located that does not block the screen making it very efficient. It also has an anodized aluminum case and a polycarbonate front that gives it a sleek look but makes it a bit prone to dents and scratches if it is dropped from a higher place.

Features

Large LED screen with single button for PIN entry and transaction confirmation;
Chrome browser extension to manage and transaction on multiple accounts;
Ability to transfer between supported crypto assets directly on the device.

This hardware wallet is a well-built device that makes keeping cryptocurrencies easy for beginners but it lacks mode advanced features for experienced users.

Price

As mentioned previously, KeepKey is currently priced at $129 which was originally at $239 when it first came out. This is a hardware wallet that is more expensive than the other hardware wallets available in the market to date.

Usability

KeepKey incorporates with the hardware wallet software on your computer by taking over private key generation, storage and transaction signing. It is compatible with certain operating systems (OS) like PC, Mac, Linux and Android; and with software wallets like Electrum, Multibit and Mycelium.

The device has one of the largest displays in the hardware wallet market. It is stunningly designed and much easier to read and navigate than much of the competition. Here is a step-by-step guide on how to use your KeepKey.

Step 1: Download and Install the KeepKey Client App

Using your computer, navigate to the Google Chrome web store and type in “KeepKey Client App”. Then, download and install this app on your computer.

Step 2: Plug in your KeepKey

Use the USB to micro USB cord that comes with your KeepKey and plug it in your computer.

Step 3: Launch the App

Launch the app and update your KeepKey device to the latest firmware. Then select initialize KeepKey to begin the set-up process.

Step 4: Set your PIN

Create a 1–9 digit PIN that will be used to unlock your KeepKey device.

Step 5: Write down Recovery Phrase or Passphrase

You will be shown a 12-word recovery phrase on your KeepKey device. Write the words down in sequential order on the order on the recovery phase card provided in the box with your KeepKey.

Step 6: Initialization Complete

Your KeepKey is initialized and ready to use.

Coin Support

An advantageous feature of KeepKey is that the coins it supports can be exchanged using ShapeShift from within the wallet software.

Here are the assets or cryptocurrencies that KeepKey supports:

Bitcoin
Ethereum
Litecoin
Dash
Dogecoin
Namecoin

The company states that there plans to add support for additional coins in the future.

Security

The main purpose of a hardware wallet is to store private keys when you are offline and it stores it in a secure environment. KeepKey is so secured that you can use it in any computer that has been infected with malware or viruses or might have been accessed by hackers without compromising the security of your private keys.

This is the reason why KeepKey is not only considered one of the most expensive hardware wallets there is in the market, but more importantly, it is the most secure as well. Here are four (4) security measures it has.

Private Key. Your private key is stored directly on KeepKey and never leaves its system.
PIN Code. Your PIN Code prevents any unauthorized user from viewing your balances or transactions.
Recovery Sentence. Your entire hardware wallet is backed up with a 12-word recovery sentence which is generated on set-up. This will be used to recover your private keys in an unlikely case your KeepKey is compromised.
Passphrase. In addition to your recovery sentence, users can opt to add a word attached to the recovery sentence. The passphrase option is only recommended for experienced users as it cannot be recovered or reset; it is important not to forget the passphrase if the option is enabled.

You can recover your hardware wallet using a PIN if your device is stolen, lost, or damaged. This is done in KeepKey’s Chrome extension. KeepKey’s screen allows you to make sure that you are sending assets to the right recipient at all times.

There may be one thing that KeepKey could improve on and it is to provide users with a means to regulate transaction fees for sending cryptocurrency – they affect the convenience of each transaction but this is a feature most wallets have. The function to transfer assets using ShapeShift integration without leaving the app saves several steps for most users and provides transparency into the charges involved.

How to Make Payments with KeepKey

The process for sending and receiving payments is the same with other hardware wallets. The major difference is that your computer no longer store your private keys which means, no one else could access them when someone else uses your computer to do transactions. All your transactions must be passed to the KeepKey in order to be signed. Once a request is received by your hardware wallet (KeepKey), the user will be notified to make a manual confirmation of the transaction.

Once your transaction is approved, it is then returned to the computer client to be announced on the cryptocurrency network. Although users need not install any drivers to use KeepKey, they would still need the KeepKey Chrome app.

Below is the process of adding an account or currency in your KeepKey.

Adding an Account:

Open the KeepKey app and enter your PIN.
Click on the (+) button on the bottom right corner of the window.
Choose the account that you will add.
Enter a name for the account and select, “Add Account”.

Note that once you added an account, it can no longer be removed or deleted from your system.

Comparison to Other Devices

In general, KeepKey just like other wallets in the market, it allows users to store multiple cryptocurrencies. It may be more expensive than other wallets but nonetheless, the device has a more exceptional look thanks to its sleek style. The KeepKey is also packaged nicely like other wallets that have well-packaged boxes.

KeepKey vs Ledger Nano S

KeepKey is a 2015 model whereas Ledger Nano S was released last 2016. Ledger Nano S sure is cheaper than KeepKey with a price of $59 and $129 respectively.

If you are new into cryptocurrencies and plans to store many different coins, a Ledger Nano S may be the easiest and cheapest way to secure your assets.

KeepKey vs Trezor

Trezor is an older version compared to KeepKey since it was released in 2013 and as mentioned beforehand, KeepKey was released two years after that. Unlike KeepKey, Trezor is a $99 thumb-sized device whereas KeepKey offers a superior feel to it – something both the Ledger Nano S and Trezor lack.

KeepKey is a port of the code and firmware of TREZOR. KeepKey is aluminum and heavier than TREZOR. TREZOR is plastic and therefore is lighter and may be more durable in case it is dropped.

Pros and Cons

There are always things to consider when purchasing items, especially when you want to be extra careful with such purchase. In this case, here are the pros and cons in choosing KeepKey as your hardware wallet for your cryptocurrency.

PROS

KeepKey is the most secure and feature packed Bitcoin hardware wallet available in the market to date.
KeepKey has a metal body with a digital screen that makes it hip and well-protected.
KeepKey can be operated smoothly and with ease. It is user-friendly and has a comfortable interface.

CONS

KeepKey is a bit costly for some people at $129, however, you sure will be getting what your money is worth.
Since KeepKey is a new hardware wallet in the market, buyers are still unsure if this is in fact the best choice.
KeepKey does not support as much cryptocurrencies than other hardware wallets.

Is It Worth It?

Overall, the KeepKey hardware wallet can be operated smoothly and with ease. It is user-friendly, so setting it up will not be a hassle. Its interface is more comfortable than some hardware wallets like the Ledger Nano S but unlike Trezor and Ledger Nano S, KeepKey uses only one button navigation but still functions smoothly with its day to day tasks like sending and receiving assets.

KeepKey does not support as much cryptocurrencies than other hardware wallets but as far as the coins it does support, KeepKey offers ease in terms of its operating system and is just as secure, if not more secure as its competitors.

Saying that KeepKey is worth it or not still depends on the user taking advantage of the services it can offer – state of the art security features; attractive and modern design; multi-currency support and value for money are few of the things KeepKey can offer its users. Choosing a hardware wallet still depends on the users’ needs and goals in terms of managing their cryptocurrencies, and only then can one say that their hardware wallet is worth it.

The Ledger Nano S – A Great Device for Digital Currency Enthusiasts

March 4, 2019 by TheCryptoToday 21 Comments

The Ledger Nano S is one of the newest hardware wallets that is used to store transactions of the different cryptocurrencies like Altcoins, Bitcoins, Zcash, and a lot more. It ensures that your crypto assets won’t be hacked and are kept safe at all times.

The device looks almost the same as the usual standard USB drive, only that, it serves a different function. While Ledger Nano S is a bit smaller compared to the other hardware wallets, customers are guaranteed to protect their cryptocurrencies transaction with this highly popular hardware wallet in the market today.

Apart from the security that this device can give, the Ledger Nano S also serves as a mobile wallet and or, a sort of bank account, which allows you to carry a large number of digital coins anywhere you go. This device is definitely a great tool for those investors who wish to secure their funds right at the tip of their hands. If you are looking for the newest fad of keeping your crypto assets safe, then this Ledger Nano S is the most reliable and safest way!

The Company Behind the Ledger Nano S

With the aim of providing security and ease to the cryptocurrency investors, Ledger, the company behind the Ledger Nano S, developed this newest technology and has desired to be the leading player in the market in terms of crypto currency storage.

Back in 2014, the company started its mission of providing solutions in securing cryptocurrency transactions. Together with the eight experts working for the company, their team established the device that is now making names in the market. Comprising of about 130 employees from different countries, the Ledger is dedicated to yielding a multicurrency hardware wallet that allows an investor to carry the device easily and safely anywhere they go.

Right now, there are about 1,000,000 hardware wallets that are sold around the world. In order to protect your bitcoins, this device allows users to separate their private keys from the phones or computers that they are using, thus, it also lessens the chances for their crypto assets to get hacked.

The Ledger Nano S Design

This device looks closely like a USB pen drive that allows users to get connected to any compatible computing device. It is very small and is easy-to-carry with the hands. Despite its small size, the Ledger Nano S is still believed to be durable as it is being protected by a metal case. Overall, it is also designed to store a variety of cryptocurrencies that are widely used in the market today.

Right now, the Ledger Nano S is creating an edge over other brands as it has a more suitable design that allows users to carry it anywhere they go. It also has a built-in real-time display that allows them to check on the latest real-time messages and even lets users check and review transactions of their cryptocurrencies.

While the company made sure to secure each and every transaction of an investor, this device also allows users to import and export important sheets for an easy backup of data and information. Further, the Ledger Nano S is believed to be foolproof, therefore, the user’s 4-digit PIN is guaranteed safe from hackers.

The device is designed to be compatible with other Ledger wallet applications which can be installed through computers and smartphones. It functions without having the need of batteries since its power is derived from its USB cable.

How much Does Ledger Nano S Costs?

If you are looking for the ideal hardware wallet solutions that the market offers, you can never go wrong with the Ledger Nano S as your primary choice. While planning to invest in the different cryptocurrencies today, it is important for you to get the right security and privacy of your assets.

But with all its functions and usability, how much does a unique hardware wallet like Ledger Nano S costs? According to the company’s website, this powerful device is offered at a very reasonable price for about Php 3,623.18.

Meanwhile, some other countries also offer this hardware wallet at a different price. The Ledger Nano S is being sold for €79 at Euro price, while it has been offered for $98 in other countries. Despite its hefty price tag, the Ledger Nano S is certainly the cheapest compared to other hardware wallet brands.

When planning for a purchase, make sure to order the device only from reliable websites. Better yet, you can also contact their company’s support to make sure that you are getting an authentic item. Without a doubt, the Ledger Nano S will definitely satisfy the needs of every cryptocurrency investors. Thus, make sure to purchase yours the earliest possible time especially if you are serious about cryptocurrency investing.

Getting to Know the Ledger Nano S Usability

With the different functions that the Ledger Nano S can offer, most users are in awe of its simplicity and usability. The device is being controlled by two buttons and everything can be monitored and viewed with just one screen.

Making it upfront and simple to use, the Ledger Nano S allows users to incorporate highly confidential information while at the same time, be able to ensure every transactions’ safety from hackers. Each transaction made with your digital currencies is visible on the device’s screen, thus, enabling any user to keep track of any transaction made in the system.

The Ledger Nano S is also equipped with an easy-to-use interface but is backed up with high cutting-edge security. It has a security chip that will also ensure the safety of the device itself. This device has been carefully designed and planned as it stores the user’s private keys in every digital currency transaction.

When a user lost access of the hardware wallet, the company made sure that a backup and restore option is accessible for the Ledger Nano S. Anyone who lost their device and has forgotten their access will get the chance to restore their account in no time.

The Ledger Nano S Coin Support

According to the company’s website, the Ledger Nano S is designed to support varieties of digital currencies. There have been about 700 coins that are listed in the top supported coins. Among those currencies are as follows:

Bitcoin (BTC)
Bitcoin Cash (BCH)
Bitcoin Gold (BTG)
Ethereum (ETH)
Ethereum Classic (ETC)
Ripple (XRP)
Litecoin (LTC)
Zcash (ZEX)
Dash (DASH)
Dogecoin (DOGE)

How to Send and Store Cryptocurrencies with Ledger Nano S?

Being an investor of these wide varieties of digital currencies, it is important for you to know the different procedures in sending and storing your crypto assets through the Ledger Nano S.

Initially, to store your coins in the hardware wallet, make sure that the Nano ledgers are set up successfully. Meanwhile, in order for you to send crypto assets firsthand, you need to know that addresses are being controlled by the device itself, which will then be sent to a specific recipient address through a Ledger Live application.

The company advises every digital currency enthusiast to start sending small amount first, especially if, it’s going to be your first transaction. By doing so, you can check whether the transaction is done successfully before proceeding to send larger amounts to a certain recipient instead.

As you try to send your crypto assets, make sure that the Ledger Live app is installed properly in your device. Always check that the interface is ready to use prior to making your first transaction. When starting a transaction, it is important to double check the recipient address and the amount that you are about to send.

Further, you can also verify carefully each transaction details in your device by clicking the “Verify Operation Details” option to make sure that the transaction is successfully confirmed. Without a doubt, the Ledger Nano S is the best hardware wallet choice to have if you plan on investing in a variety of digital currencies. Sending and storing your crypto assets have never been made easy with Ledger Nano S!

How Ledger Nano S Makes a Better Choice than Other Devices?

Keeping your crypto investments safe has never been more essential than it is today. Hence, the right selection of the right hardware wallet is a must. While cryptocurrency investments are becoming popular nowadays, so many companies have started up in producing a device as a tool for crypto asset storage. Among the products which made names in the market are the Ledger Nano S versus the Trezor and the KeepKey.

Generally, these three products are all hardware wallets. But what makes the Ledger Nano S greatly better than the other two devices?

Ledger Nano S vs Trezor

The Ledger Nano S is a cryptocurrency wallet that’s specially designed in a handy shape. It is equipped with the best safety features and has been proven to be excellent in keeping the investor’s digital assets, while at the same time, making sure that digital payments are executed with utmost safety and security. This device is made from high-quality metal, making it more durable compared to the other brands.

Meanwhile, the Trezor is yet another digital currency wallet that is also designed to keep the investors crypto asset within their reach. The device is believed to be operated offline, nonetheless, it is still one of the trusted hardware wallets when it comes to securing digital coins. Compared to the Ledger Nano S, this Trezor is made out of plastic, making it more prone to physical damage.

The Ledger Nano S and the Trezor are both equipped with two buttons for its functions. However, the Trezor has a larger screen display compared to the Nano S. Nonetheless, its screen size has generally nothing to do with the device performance.

Ledger Nano S vs KeepKey

On the other hand, KeepKey is another attractive and effective tool for storing digital currencies. However, one of its downsides is the fact that it doesn’t support many varieties of digital coins. For the record, KeepKey is known to have the slowest performance among the three devices. KeepKey is believed to have the largest screen size, making the information and other data more visible than the rest of the cryptocurrency wallet brands.

Among these comparisons, this makes the Ledger Nano S the best choice among them all. In terms of price, it is also the most affordable device among the other brands.

Ledger Nano S – Pros and Cons

When planning to get your own Ledger Nano S, consider the pros and cons of this device below.

PROS

It is the cheapest hardware wallet in the market today.
You can send and receive payments of multiple currencies in one same device.
The only hardware wallet with the closed source firmware ensuring the crypto assets safety and security.
It can never be hacked easily as it keeps the private keys securely.
It supports about 700 digital coins.

CONS

The device has the smallest screen size compared to the other brands.
It has no passphrase support.
It can be lost easily due to its very small size.

Is the Ledger Nano S all Worth it?

Several companies have created great devices in keeping digital currencies intact and safe. However, the Ledger Nano S has definitely made an edge among the other brands when it comes to its price, design, and usability.

Considering the fact that this device supports almost every coin variety in the market today, this makes each digital currency investor go after the Ledger Nano S for purchase. Further, it is also powered by the Ledger Live app that makes every single transaction easy and simple for the crypto asset’s owners.

Above all, the Ledger Nano S is definitely worth the choice. When looking for the hardware wallet that comes with the best design, the number of coins supported, the simplicity of use, and of course, with the most reasonable price in the market therein, then, this device is the best choice!

Binance Review & The Complete Beginner’s Guide

February 23, 2019 by TheCryptoToday 7 Comments

What is Binance?

Binance is a renowned cryptocurrency exchange platform launched in China but recently relocated its headquarters to Malta, a cryptocurrency-friendly island in the European Union. The exchange’s popularity is majorly attributed to its crypto-to-crypto trading services. Despite the fact that the organization is somewhat a new entrant in the market, thanks to their splendid no. of ICO listings, low trading fees, professional attitude, and a friendly Chief Executive Officer, it has succeeded to amass a whole lot of recognition.

Insofar as this review goes, we will try to look into or rather address all there is to know about Binance, including how it operates, the cryptocurrency pairs available for trade on the platform, security facets, customer support, as well as its trading fees and the limits herein involved. Click here to visit official site!

How does Binance work?

Upon your first visit to the platform’s site, you will at a glance come to the realization that as far as digital assets trading is concerned, there are two versions for users namely; basic crypto trading and advanced crypto trading. Neither of the aforementioned versions is deemed an easy-to-use option for absolute beginners. Be that as it may, anybody with a background in cryptocurrencies, as well as a bit of know-how regarding how cryptocurrency exchanges operate is better placed to leverage the exchange’s platform and its various services. The key disparity between the two versions (basic and advanced) is that the advanced version offers a technical analysis of cryptocurrency value that is more in-depth over time.

Basic Platform

At the moment, the view of the basic version’s dashboard offers a number of charts and graphs for the crypto pairs you intend to trade, the history of your trade, and order books.

The view is neatly designed and properly laid out. All the info you may need is presented vividly with prices on the view’s left side panel, graphs centered, and the trade boxes (buy and sell boxes) on the right panel so you can quickly have a glance of what the most recent prices with regard to trade were.

Advanced Platform

The advanced view, on the other hand, has a dark theme and enlarges the trading charts. What’s more, the most recent trade prices are presented on the view’s right-hand-side panel. Underneath this panel are the buy and sell boxes.

Binance Account Sign-up and Sign-in

Signing up for an account is the first step towards utilizing the Binance platform for crypto trading. The process herein involved is rather easy and straight-forward. Significantly, a user doesn’t have to verify their account for the first level which basically has a 2 BTC daily withdrawal limit. The second level, on the other hand, with a withdrawal limit of up to 100 BTC in a day, requires a user to upload a photo of their ID and hold on until they are authenticated. As much as there exist higher limits as well, you will be required to directly get in touch with the exchange’s administrators for such arrangements.

The verification period is bound to vary contingent upon how busy the administrators are. Consequently, be sure to make arrangements ahead of time in the event you wish to make larger amounts of withdrawals. Also, it is absolutely necessary that you complete the signup process and log into your account before you are ready to deposit and (or) trade on the platform.

Binance Funding and Withdrawal

Funding your Binance Account

Upon completing the signup and verification processes, users can proceed to funding their Binance account. Even though users are at liberty to select from a multitude of cryptocurrencies, it is advised that they stick with either Bitcoin (BTC) or Ether (ETH). To deposit funds into your Binance account from the site, navigate to the “Funds” > “Deposits / Withdrawals” link at the top of the web page and select your preferred currency, then click the button labeled “Deposit” beside it which will, in turn, provide you with the address of the wallet. At this point, you can then have your funds transferred to your allocated address and commence trading on the platform. Contingent upon your chosen currency, the time taken for the funds to show up varies as this depends on the blockchain of the currency. Certain cryptocurrencies such as Ethereum take a shorter time to show up as compared to Bitcoin which is bound to take a little longer.

Now that you have successfully funded your Binance account, you are in a position to begin to trade, exchange, and invest in a number of crypto pairs. The platform offers a variety of options, given that it not only supports all major cryptocurrencies but diverse ICO listings and their corresponding tokens as well.

So far, the Binance exchange platform can only be used to generate limits and market orders. To a number of users, this has been deemed disadvantageous since they expected to land at trading options that are more advanced. Upon placing your order, simply hold on for a moment while the order is fulfilled as per the stipulated terms and conditions.

Withdrawals

Withdrawing your funds from the Binance exchange platform is just as easy as depositing them is. To do this, click on the withdrawals tab on the main menu bar after which you will be redirected to withdrawal section. Select the coin that has your assets or funds then enter your external wallet address and proceed to make the withdrawal. You will be required by Binance to confirm the transaction. This can be via either email confirmation or 2-factor authentication. In the event you wish not to go through this process every other time you carry out such a transaction, then you are at liberty to elect the specific addresses to the white label.

How to Trade on the Binance Exchange Platform

Having interacted with any particular digital currency exchange before, trading on the Binance platform ought to be passably straight-forward. To begin, be sure to have some funds in your Binance account. Significantly, you are provided with options to trade pairs in USDT, BNB, BTC, and ETH. After funding your Binance account, select “Exchange” > “Basic” or “Advanced” to load the trading web page.

Assuming you selected the basic view, select the USDT, BNB, BTC, or ETH tab on the site’s right-hand side panel – you will be trading in this. Then from the provided list of cryptocurrencies, select the one you most prefer. You can as well search here and even set up a list of your favorite cryptocurrencies by clicking on the star button beside the coin.

The moment your selected cryptocurrency has loaded, take notice of the column on the left-hand-side which displays the prices at which other users or rather traders are willing to sell in the top half in red and the prices at which other traders are willing to purchase in the bottom half in green.

In order to place a purchase order, navigate to the box in the center below the graphs where you will see the buy box – it is on the right and has a green background. Even though there is the option for you to manually key in your purchase price, a more effective way would be to select an amount on the column in the left-hand-side. Either way, you can then key in the amount of the cryptocurrency you are inclined to buying or click the 100%, 75%, 50%, or 25% buttons. This will as result fill the text field with an amount depending on the amount of the buying currency you have in your wallet (BTC in this case).

Upon the placement of your order, it will progressively be displayed below the “Open Orders” segment until it is completely filled. So far, your new crypto asset will be available underneath the “Deposits / Withdrawals” menu. From here you can make withdrawals to your cryptocurrency wallet of preference.

Supported Digital Currencies by Binance

Binance is vastly renowned for its support of a vast range of digital currencies. Crypto traders are in a position to trade multiple cryptocurrencies, with the inclusion of, but unlimited to, among others, Ethereum, Bitcoin Gold, Ethereum Classic, Bitcoin, NEO, Bitcoin Cash, Ripple, EOS, GAS, Dash, Zcash, LiteCoin, just to mention but a few. As earlier mentioned, Binance as well supports a variety of tokens, as part of ICO listings. Crypto traders can as such trade the aforementioned tokens for purposes of profiting.

Binance is at the moment very quick to include new crypto coins and tokens after their ICO which basically implies that traders can purchase them at pocket-friendly prices. This as result gives room for bigger profits down the pike. The exchange at the moment offers trading pairs in USDT, ETH, BTC, and BNB.

Binance ICO and BNB Coin

Worth noting is that the BNB token (Binance Coin) which was offered amid Binance’s Initial Coin Offering can be used in the payment of fees. What’s more, the coin is scheduled to feature in the organization’s future plans to develop a decentralized exchange platform in which case the coin will serve as the primary base currency. The Binance Coin is worth investing in as the organization plans on using their profits to buy back a portion of the coins every quarter and destroy them, thus reducing their supply and further augmenting their value for holders. Here is what the CEO had to say:

“Every quarter, we will use 20% of our profits to buy back BNB and destroy them, until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining.”

Binance Fees and Limits

Up till the time of this writing, Binance charges an approximated 0.1 percent on every trade made by a user on their platform. Most noteworthy, Binance offers a 25 percent discount on the trading fees for individuals who opt for paying through the Binance token (BNB), which is unreservedly great news. These are undoubtedly among the lowest possible fees available so far in the marketplace. Withdrawal fees normally have a tendency to vary for each cryptocurrency. For example, whilst Bitcoin withdrawals are charged at 0.0005, ETH withdrawals are charged at 0.005.

As far as transfer limits go, the amount of coins a user can deposit is unlimited. Be that as it may, in cases where a user is not verified (level1 user), there are limitations insofar as their withdrawal amount is concerned. Account verification establishes one as a level 2 user, hence lifting the aforementioned limits and providing a lot more freedom when using the exchange’s platform. This authentication process necessitates a user to provide their full name, government-issued Identification card or passport photo, gender, country of residence, as well as a selfie holding the ID card or passport.

Order Types

Insofar as order types go, Binance has a comparatively standard offering. On the Binance exchange platform the trading orders are categorized into three types namely:

Limit order:

This lets you place an order at a particular price that is not in the current market price.

Market order:

A market order executes an order at the going market rate. It is the order a trader uses when they only want to purchase or sell at the particular moment.

Stop Limit:

A stop limit is basically a limit order that also lets you place a stop price. The moment the market attains this price your trade will be closed out. Simply put, placing this order can be likened to placing a stop loss.

Is Binance Safe?

Despite being among the most recent crypto exchanges to join the market, Binance has swiftly managed to establish a high level of trustworthiness from not only its users but the cryptocurrency community at large. Nonetheless, the platform does not provide users with sufficient information regarding the manner in which funds are secured, yet we are inclined to believing that security is a major concern insofar as cryptocurrency trading goes. 2-factor verification of user accounts is available, which normally is a nice sight. However, it is common knowledge that the platform offers a multi-tier and multi-tier system architecture.

Most noteworthy, Binance was a victim of a hacking attempt in March 2018. The hackers attempted to pull off an intrepid stunt which was fortunately captured by the automated systems in place at the exchange. The hackers had been racking up users’ logins for months through a phishing website and covertly installing API access on the vulnerable Binance accounts. They then pounded, converting the victims’ altcoins in their entirety to BTC and buying Viacoin which as a result pumped the coin to a big price. They then sold their Viacoin supply at the peak, prior to attempting to make withdrawals of the BTC to their individual wallets. Fortunately, none of the users succumbed to fund losses since the hack was captured. Instead, it’s the hackers who lost and their funds will be donated to charity.

Given that the hack was caused by users posting their account credentials and two-factor authentication credentials into a phony website, you ought to always ensure you’re on the right Binance website URL prior to signing in to your account. You are as such advised to bookmark the site and only use the bookmark to access it. It is as well recommended that users should never click links from emails, twitter, telegram, and other social media sites. This occurrence has to a great extent instilled confidence around the exchange. This level of confidence is majorly attributed to the fact that not only did the exchange’s automated systems capture the pursued hack before any loss of users’ funds, but also that the organization has since offered a bounty worth $250,000 to whoever can help nab hackers. All through the event, Binance acted exceptionally and have been venerated for their rapid action in mitigating this.

Binance Customer Support

A successful exchange platform calls for an appreciable customer support team, with the capability to answer all user queries and requests in a timely manner. Much as Binance’s support could use a bit of work, the support team is significantly responsive and bears the capacity to offer professional help to traders in need. The platform issues support tickets through an online form featured on the exchange’s site. Consequently, responses are conducted through email. At the moment, there is neither an active chat support nor a toll no. through which users can contact the support team.

Besides their reputable customer support, Binance provides its users with a number of FAQs and articles meant to help them stay abreast with the exchange platform and how it operates.

It is worth noting that Binance’s customer support has been known to be slow insofar as responding to customer requests goes. This is a common phenomenon with a vast majority of large exchanges and is basically attributed to the large number of users as well as the size of the support staff. The platforms have grown at an alarming rate this past year and the organizations have basically not been able to keep abreast with the demand. Binance, in particular, grew rapidly, going from its establishment to being the biggest cryptocurrency exchange globally over such short a period. Crypto exchanges’ support teams should be keenly vetted and trained about security requirements as well as the technicalities engrossed – in contrast to other traditional organizations where training the staff can be a lot quicker.

Launching a Decentralized Exchange

Binance’s most recent news and what appears to be good news for holders of the BNB token regards the fact that the organization looks forward to launching their own DEX (Decentralized Exchange):

“After extensively researching decentralized exchange frameworks and analyzing existing implementations, we believe significant improvements can be made in providing Binance users with a level of trading experience to which they are already accustomed. Centralized and Decentralized exchanges will co-exist in the near future, complementing each other, while also having interdependence.”

Currently an ERC-20 token, the BNB digital asset is scheduled to migrate as the network’s native token and will be used for the payment of the new exchange’s trading fees.

Binance Jersey Launch – Now Supports Fiat to Crypto Exchanges

As of January 16, 2019, Binance has announced the instigation of a new fiat to cryptocurrency exchange referred to as “Binance Jersey”. The trading platform is live and active and allows users to carry out their trades using such fiat currencies as the euro and the sterling pound. The exchange’s primary target is the European market.

Up till the time of this post’s composition, the platform only offers the following 4 trading pairs with more to follow in the near future:

BTC/EUR
BTC/GBP
ETH/EUR
ETH/GBP

Binance Referral Program

Are you enthusiastic about the Binance trading experience? Well, if this is the case then it’s good news for you as the exchange provides its users with the opportunity to pocket referral commissions. This could as well be an apt choice for traders who have a passably solid online following.

Binance rewards its users a percentage of the users’ trading revenue. This reward is variable and at the moment rests at 20 percent. Nonetheless, in the event you are holding over 500 BNB in your Binance account, then the exchange increases the percentage to 50%.

If you wish to participate in the Binance referral campaign then you will be required to get a referral link. You can get this link on your dashboard from Binance’s invite link. If you click on the link, you will be redirected to your affiliate link. It is this link that you send to your friends and online followers. You are at liberty to as well use the auto-generated QR code.

Conclusion

At the moment, Binance’s matching engine has the capacity to process orders at the rate of just about 1.4 million per second. This, as a result, labels it one of the quickest cryptocurrency exchange platforms available on the market. What’s more, it works on all sorts of devices, including HTML5, Web, WeChat, and Android. Most noteworthy, the exchange offers multi-language support in Japanese, Korean, English, and Chinese.

Based on all that has so far been mentioned, Binance is, without doubt, the most established crypto exchange and not only offers appreciable fees, but an amazing cryptocurrency support as well. Given that it reportedly has access to a whole lot of resources and partners, it is most probable that Binance will continue to evolve and provide its users with great cryptocurrency exchange services.

Parting Shot:

As always, take precautionary measures, for instance, using a unique password for account registrations, enable two-factor authentication on your account, and always remember to withdraw your crypto assets to your own private wallet as holding your assets on the exchange platform makes them vulnerable to scams.