Quotations by Kiana Danial
Some of the popular anonymous wallets include BitLox (https://www.bitlox.com/), Electrum (https://electrum.org/) and Samourai (https://samouraiwallet.com/). [2019] - Kiana Danial
You can find out about all cryptocurrencies’ market caps by visiting websites such as http://coinmarketcap.com, www.cryptocompare.com/, https://coincodex.com/, and www.coingecko.com/. A higher market cap isn’t necessarily a good thing. Investors who can take higher risks may prefer cryptocurrencies with a lower market cap because those may offer more room for the market cap to increase. However, if you want to play it safe and avoid volatility or vanishing risk, you may prefer going with cryptocurrencies with a higher market cap. [2019] - Kiana Danial
Ripple’s XRP isn’t minable. Coin creation and algorithm processing happens through consensus, not PoW. Transaction time can be as little as four seconds. Transactions can be made anonymous. Ripple isn’t fully decentralized. [2019] - Kiana Danial
Litecoin is a result of a Bitcoin hard fork that happened in 2011. Litecoin is minable. Coin creation and algorithm processing occurs through the proof-of-work (PoW) process. Transaction time is around 2.5 minutes. Transactions can be made anonymous. Litecoin is decentralized. [2019] - Kiana Danial
Many analysts and investors believe some of these celebrity cryptocurrencies may vanish within ten years. Chances are that if anything should happen to a core cryptocurrency, a hard fork may come along that saves it. If you’ve already invested in a cryptocurrency when it forks, you get the same amount of new coins anyway. That’s why I’ve recommended starting the cryptocurrency portfolio by first diversifying among the top ten largest ones by market cap and then get into other, different categories. [2019] - Kiana Danial
The most famous cryptocurrencies right now include Ethereum, Ripple, Litecoin, Bitcoin Cash, and Stellar Lumens. Because the crypto industry is pretty new, it's still very hard to identify the best-performing cryptos for long-term investment. That's why you may benefit from diversifying among various types and categories of cryptocurrencies in order to manage your risk. By diversifying across 15 or more cryptos, you can stack up the odds of having winners in your portfolio. [2019] - Kiana Danial
Some of the most popular ways to earn crypto dividends are: 1) Stacking: Holding a proof-of-stack coin in a special wallet; 2) Holding: Buying and holding a crypto in any wallet. Some dividend-paying cryptocurrencies include NEO, KuCoin, BridgeCoin, Neblio, and Komodo. In addition, you can earn regular payments by participating in crypto lending. For example, you can earn up to 5% interest on your cryptos by allowing companies like Celsius Network to give out loans to the general public against cryptos. [2019] - Kiana Danial
You can group cryptocurrencies in several different ways for diversification purposes: 1) Transactional cryptocurrencies (Bitcoin & Litecoin): Designed to be used as money and exchanged for goods and services; 2) Platform cryptocurrencies (Ethereum & NEO): Designed to get rid of middlemen, create markets, and even launch other cryptocurrencies. Such cryptocurrencies are generally considered good long-term investments because they rise in value as more applications are created on their blockchain. 3) Privacy cryptocurrencies (Monero, Zcash & Dash): Similar to transactional cryptocurrencies but heavily focused towards transaction security and anonymity. [2019] - Kiana Danial
Ripple has no miners. Instead, transactions are powered through a "centralized" blockchain to make it more reliable and faster. Ripple in particular has gone this route because it wants to work with big banks and therefore wants to combine the best elements of fiat money and blockchain cryptocurrency. [2019] - Kiana Danial
Crypto Exchanges: (1) Centralized cryptocurrency exchange (CEX) - Coinbase (most popular), Bittrex, Kraken, Gemini, Robinhood, Bitfinex (2) Decentralized cryptocurrency exchange (DEX) - IDEX, Waves, Stellar, Bisq (3) Hybrid cryptocurrency exchange - Qurrex, NEXT.exchange [2019] - Kiana Danial
The best way to measure an exchange’s liquidity is to look up its most recent trading volume. Coinmarketcap.com and bitcoincharts.com are two of the many cryptocurrency information websites that rank exchanges based on their volume and liquidity. [2019] - Kiana Danial
Look into the methods of payment the exchange accepts. Some exchanges require deposits by bank transfer, some use PayPal, and some accept credit and debit cards. Typically, the easier it is for you to pay, the more fees you’re going to have to pay. For example, few services allow you to pay with a credit or debit card, and the ones that do will make you pay for the convenience. One example of such services is xCoins (https://xcoins.io/?r=62hcz9), which accepts credit cards and PayPal to exchange Bitcoins. [2019] - Kiana Danial
One of the only viable exchanges that accepts PayPal as a form of money transfer is an exchange called VirWox. One major problem with VirWox is its high fees. If you’re looking to trade cryptos through a broker, eToro (http://partners.etoro.com/A75956_TClick.aspx) is one famous one that accepts PayPal. This type of information is constantly subject to change due to cryptocurrencies’ volatile current state. The best way to stay on top of cryptocurrency news is on websites such as www.newsbtc.com/ and www.coindesk.com/. [2019] - Kiana Danial
One place you can find buyers and sellers of cryptocurrencies for cash is https://localbitcoins.com/?ch=w7ct. Other sites connect buyers and sellers in a way where the seller provides bank details that let the buyer make a cash deposit at the bank. You must keep the receipt to provide proof, and the seller can send you the Bitcoins. Some options in this vein include https://www.bitquick.co/ (part of Athena Bitcoin based in Chicago) and https://paxful.com/ (based in Delaware). [2019] - Kiana Danial
The process of buying cryptocurrencies at an ATM: 1) Verify your identity (using an ID card, for example); 2) Select the cryptocurrency you want to purchase; 3) Provide a cryptocurrency address for deposit; 4) Select the amount of cryptocurrency you want to purchase; 5) Insert cash into the cryptocurrency ATM; 6) Confirm the operation. Some cryptocurrency ATMs even provide services to sell digital coins as well as buy - they’re machines that are connected to the Internet and direct you to a cryptocurrency exchange in order to provide you with your cryptocurrency. [2019] - Kiana Danial
You don’t have to memorize your crypto wallet address. Personally, I keep my wallet address and other keys in a locked document on a secure computer. You can also consider printing your keys and storing them somewhere safe that you won’t forget about. [2019] - Kiana Danial
For security purposes, a hardware wallet is an absolute must (and a bare minimum) for large crypto amounts. Even safer than hardware wallets are paper wallets - you print out your private and public keys. Some paper wallet generators include Bitaddress.org, WalletGenerator.net, Bitcoinpaperwallet.org, and Mycelium (https://mycelium.com/mycelium-entropy.html). Mycelium offers an original and even more secure way to generate paper wallets, with a USB device that you plug directly into your printer. The device generates a paper wallet that automatically gets printed out without ever having touched your computer. [2019] - Kiana Danial
Ledger Nano S hardware wallet (priced at $99) is one of the most popular and highly rated secure wallets out there. Trezor Bitcoin hardware wallet (created by SatoshiLabs) is another example. One catch about these is that if the USB drive dies, all your cryptos go with it. That’s why you should always have a backup and keep your security codes elsewhere so that you can recover your assets. Coinomi (www.coinomi.com/) is a popular multicoin mobile wallet. It supports more than 200 different digital tokens and a number of blockchains. Exodus (https://www.exodus.io/) is another multicoin wallet, available only on desktop. [2019] - Kiana Danial
Many blockchains only disguise users’ identities while leaving behind a public record of all transactions that have occurred on the blockchain. The data in the ledger often includes how many tokens a user has received or sent in historical transactions, as well as the balance of any cryptocurrency in the user’s wallet. Privacy cryptos can be a bit controversial because authorities see them as an illicit tool that for criminals to engage in illegal activities, such as money laundering. Nonetheless, some of them have gained popularity, including Monero (XMR), Zcash (ZEC), CloakCoin (CLOAK) and Dash (DASH) [2019] - Kiana Danial
Some analysts suggest you may want to forget about payment cryptocurrencies and invest in crypto platforms instead. They’re generally considered good long-term investments because they rise in value as more applications are created on their blockchain. The most famous example in this category is Ethereum (ETH). Others include NEO (NEO, China’s largest cryptocurrency), Lisk (LSK), EOS (EOS), Icon (ICX), Qtum (QTUM), VeChain (VEN), Ark (ARK) and Substratum (SUB). [2019] - Kiana Danial