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October is historically a positive month for Bitcoin. Bitcoin typically experiences an upward trend in October. Various factors combined to push Bitcoin to new heights this month. Historically, since 2013,…

Market Analysis & Insights

Descending Broadening Wedge Says Bitcoin Is Going To $90,000

September 19, 2024

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Recent analyses have uncovered a bullish pattern on the Bitcoin chart, suggesting the cryptocurrency could soar as high as $90,000. Crypto analyst Jelle highlights this potential price rally and shares…

Investing & Trading

Nervos Network Bulls Add More Profits To Their Wallets With Gambling Token Mpeppe

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The cryptocurrency landscape is ever-evolving, with new opportunities emerging rapidly. Recently, the Nervos Network (CKB) has made headlines with impressive growth, climbing by 119% within just a week. As investors…

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10 Things You Need to Know Before Investing in Cryptocurrency

September 16, 2024

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Cryptocurrency has become increasingly popular as an investment opportunity, with many investors hoping to cash in on the potential profits that can come with trading digital currencies. However, investing in…

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Blockchain in Today’s Realities: Transforming Industries and Shaping the Future

October 4, 2024

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In the past decade, blockchain technology has evolved from a niche concept closely tied to cryptocurrencies into a transformative force with broad applications across numerous industries. It has revolutionized how…

Blockchain Technology

Unlocking the Power of Blockchain: A Comprehensive Guide to Understanding Blockchain Technology

September 2, 2024

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In the realm of digital innovation, few technologies have garnered as much attention and potential as blockchain. From cryptocurrencies to supply chain management, blockchain technology can revolutionize industries across the…

Celebrating 10 Years of the Hardware Wallet Revolution

As we celebrate the 10th anniversary of the first hardware wallet, it’s remarkable to see how far Bitcoin security has come. From the early days of precarious self-custody methods to the game-changing creation of the Trezor Model One, this revolution has transformed the way we protect our digital assets. With a decade of experience behind us, it’s worth revisiting the challenges of early Bitcoin self-custody, the pivotal impact of the first hardware wallet, the essential role of self-custody in today’s Bitcoin landscape, and the innovative advancements that continue to shape the future of crypto security. The Origin Story It all began in 2011 when Marek “Slush” Palatinus logged onto his mining pool server and discovered that 3,000 BTC were missing. This incident underscored a significant issue: even tech-savvy Bitcoin enthusiasts could fall victim to online attacks. At that time, securing and managing Bitcoin was a daunting task, primarily due to the reliance on software wallets that stored private keys on computers. These complex machines were vulnerable to numerous threats, allowing thieves to steal private keys controlling Bitcoin. The hack that cost Palatinus his 3,000 BTC was a stark reminder of these early vulnerabilities. Recognizing a pressing need for a simple, stand-alone device that could securely store Bitcoin, Slush, along with Pavol “Stick” Rusnák, embarked on creating the world’s first hardware wallet. Their vision was to develop an offline computer specifically designed to store Bitcoin securely, making it accessible to non-technical users. The concept was straightforward yet revolutionary: a small, single-purpose device that would keep private keys in an isolated environment, protected from online threats. Before Hardware Wallets Before hardware wallets became widely available, users relied heavily on software wallets installed on computers or smartphones, which exposed them to a range of security threats. Malware infections and various attacks were all too common. While paper wallets were considered more secure, they still required a computer to create the wallet. More secure methods, such as using air-gapped computers for cold storage, required significant technical expertise and still lacked an adequate level of security for larger amounts of Bitcoin. Usability was another significant challenge; early Bitcoin wallets often featured clunky interfaces and complicated backup processes. Many users failed to back up their wallets properly, leading to permanent loss of funds if a device was lost or damaged. Awareness of best practices for backups was low, and the lack of standardized backup methods further increased the risk. A major improvement in backup standardization came with the introduction of Hierarchical Deterministic (HD) Wallets with BIP32 in 2012, which allowed for easier and more reliable backups. Despite these advancements, easy and user-friendly options for newcomers were still lacking. In short, the period before hardware wallets were marked by significant security and usability challenges, making Bitcoin self-custody a complex and risky endeavor. The First Hardware Wallet In the years leading up to 2014, various attempts were made to develop simple, single-purpose devices for cryptocurrency storage. However, these efforts often failed to gain traction or meet the necessary security standards. Recognizing the need for a robust solution, Slush and Stick monitored the landscape for two years before deciding to create their own hardware wallet. In 2014, they released the Trezor Model One, the first-ever hardware wallet, which combined user-friendly design, truly random private key generation, and the ability to sign transactions completely offline. This device also implemented the BIP39 standard, which allows users to back up wallets using a list of 24 words representing the private keys. This standard has been widely adopted and is now familiar to anyone who has put their Bitcoin in self-custody. When users first connect the device, it guides them through the setup process to create a new wallet. The device generates a recovery seed, representing a human-readable version of the wallet’s master private key, enabling recovery in case of device malfunction. Users are prompted to write down this list of words, ensuring the wallet is backed up and the private keys remain offline. This onboarding process ensures that users create a backup and keep it secure, making hardware wallets accessible to both beginners and experienced users. The Open Source Advantage A key aspect of Bitcoin is its commitment to open-source principles, which the founders of Trezor adhered to when developing the Trezor Model One. This approach has been widely adopted by most manufacturers in the industry. Open-source software allows the community to audit and verify a system’s integrity, ensuring that potential vulnerabilities can be identified and addressed promptly. This transparency emphasizes the Bitcoin ethos of “Don’t trust; verify.” The Importance of Self-Custody Throughout Bitcoin’s history, numerous crypto exchanges and custodians have collapsed or suffered severe security breaches, highlighting the importance of holding your private keys. The mantra “not your keys, not your coins” emphasizes that relying on third-party institutions means trusting someone else with your assets, which can lead to significant problems if the exchange gets hacked, mismanaged, or faces legal issues. The Mt. Gox incident in 2014, one of the earliest and most notable exchange collapses, resulted in the loss of 850,000 Bitcoins, valued at hundreds of millions of dollars at the time. This catastrophic failure was due to both hacking and mismanagement, leaving users unable to recover their funds. Other notable incidents include the Bitfinex hack in 2016, which resulted in the theft of nearly 120,000 Bitcoins, and QuadrigaCX in 2019, where users lost access to their funds after the sudden death of its founder, the only person with the keys to the exchange’s wallets. The FTX collapse in 2022 further reinforced the dangers of entrusting assets to centralized entities, with mismanagement and fraudulent activities leading to the loss of billions and shaking confidence in centralized exchanges. By using hardware wallets, individuals can achieve true financial independence, keeping their digital assets safe from the vulnerabilities of trusted custodians. The Evolving Landscape of Hardware Wallets Over the past decade, the hardware wallet industry has greatly expanded, with many companies offering a variety of products and features to meet different needs. >>Read more
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Ethereum Close Below $1K Could Spark Larger Degree Downtrend

Ethereum is struggling below $1,080 against the US Dollar. ETH could decline heavily if there is a close below the $1,000 support zone. Ethereum remained in a bearish zone below $1,100 and $1,080 levels. The price is now trading below $1,100 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,050 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline again unless there is a clear move above the $1,120 resistance zone. Ethereum Price Remains At Risk Ethereum remained in a bearish zone and retested the $1,000 support zone. ETH formed a base near $1,000 and recently corrected higher. There was a minor recovery wave above the $1,030 and $1,050 levels. Ether price climbed above the 23.6% Fib retracement level of the key decline from the $1,236 swing high to the $997 low. It even attempted an upside break above the $1,100 level but failed. It is now trading below $1,100 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $1,050 on the hourly chart of ETH/USD. Immediate resistance on the upside is near the $1,060 level. The next major resistance is near the $1,080 zone. The first major hurdle is near the $1,100 zone or the 50% Fib retracement level of the key decline from the $1,236 swing high to the $997 low. A close above the $1,120 resistance zone could start a decent increase. In the stated case, the price could rise towards the $1,180 resistance. Any more gains might send the price towards the $1,236 high. More Losses in ETH? If Ethereum fails to rise above the $1,080 resistance, it could continue to move down. Initial support on the downside is near the $1,050 zone or the trend line. The next major support is near the $1,000 zone. A close below the $1,000 level might spark a sharp decline. In the stated scenario, ether price may perhaps slide towards the $925 level. Any more losses could send the price towards the $880 support zone. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 levels. Major Support Level – $1,000 Major Resistance Level – $1,080 Source
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How to Store Your Cryptocurrency Safely

With the growing popularity of cryptocurrencies, ensuring their safe storage is more crucial than ever. Cryptocurrency, unlike traditional assets, requires careful handling to protect it from theft, loss, or damage. Here are some essential methods and tips to store your cryptocurrency safely. 1. Use Hardware Wallets Definition: Hardware wallets are physical devices designed to store your cryptocurrency offline. They provide a high level of security by keeping your private keys away from internet access. Popular Hardware Wallets: Ledger Nano X: Known for its Bluetooth capability and wide range of supported cryptocurrencies. Trezor Model T: Features a touchscreen and support for various crypto assets. Ledger Nano S Plus: A budget-friendly option with robust security features. Advantages: Provides strong protection against online hacks and malware. Private keys never leave the device, reducing the risk of exposure. Disadvantages: Requires physical possession of the device to access funds. Can be lost or damaged if not properly handled. 2. Use Software Wallets Definition: Software wallets are applications or programs that store your cryptocurrency on your computer or mobile device. They come in various forms, including desktop, mobile, and online wallets. Popular Software Wallets: Exodus: Offers a user-friendly interface and supports multiple cryptocurrencies. Trust Wallet: A mobile wallet known for its integration with decentralized applications (DApps). Electrum: A lightweight desktop wallet for Bitcoin with advanced features. Advantages: Convenient for frequent transactions and easy to access. Many offer backup and recovery options to protect your funds. Disadvantages: Vulnerable to malware and hacking if your device is compromised. Private keys are stored on your device, which could be lost or stolen. 3. Use Paper Wallets Definition: A paper wallet involves printing or writing your cryptocurrency’s private and public keys on a physical piece of paper. It’s a form of cold storage that is completely offline. How to Create: Use a reputable paper wallet generator. Generate your keys in a secure, offline environment to avoid exposure. Print or write down the keys and store the paper in a safe place. Advantages: Highly secure from online attacks since it’s offline. Simple and cost-effective storage solution. Disadvantages: Risk of physical damage or loss of the paper. Not suitable for frequent transactions due to the need to manually enter keys. 4. Use Multi-Signature Wallets Definition: Multi-signature wallets require multiple private keys to authorize a transaction. This adds an extra layer of security by distributing control among multiple parties or devices. How It Works: Set up a multi-signature wallet with a required number of signatures (e.g., 2 of 3) to complete a transaction. Distribute the private keys among trusted individuals or secure devices. Advantages: Increases security by requiring multiple approvals for transactions. Helps protect against loss or theft of a single private key. Disadvantages: More complex to set up and manage compared to single-key wallets. Requires coordination among multiple parties or devices. 5. Backup Your Wallet Importance: Regularly backing up your wallet ensures that you can recover your funds if your wallet is lost, damaged, or compromised. Backup Methods: Seed Phrases: Most wallets provide a seed phrase (a series of words) that can be used to restore your wallet. Write it down and store it securely. Encrypted Backups: Some wallets allow you to create encrypted backups of your wallet file. Store these backups in a secure location. Advantages: Ensures you can recover your funds in case of device failure or loss. Provides peace of mind knowing that your assets are protected. Disadvantages: Backup storage must be secure to avoid unauthorized access. Risk of losing backup if not stored properly. Conclusion Safe storage of your cryptocurrency is essential to protect it from theft, loss, and damage. By using hardware wallets, software wallets, paper wallets, multi-signature wallets, and regularly backing up your wallet, you can significantly enhance the security of your digital assets. Choose the method or combination of methods that best suits your needs and ensure you implement best practices for safeguarding your cryptocurrency.
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