Wikicoin Vera Thornpike

5 Reasons Why You Should Invest in Cryptocurrency

📚 Wikicoin
5 reasons for jumping on the bandwagon
5 Reasons Why You Should Invest in Cryptocurrency
Contents

Cryptocurrency continues conquering the world of finances, and the number of cryptocurrency enthusiasts is growing. Should you join them? Consider these 5 reasons for becoming the next cryptocurrency investor.

In 2017, Bitcoin propelled into the spotlight and started growing in price at a remarkable rate. Trading cryptocurrency has become a widespread trend, and the number of people who invest in crypto has exceeded 500 mln. Crypto enthusiasts claim that Blockchain and altcoins are here to shake the modern economy to its core. Are we witnessing a major shift in the global economic system? Definitely. But should you invest in cryptocurrency? Here are at least five reasons for considering it.

1. Your money always stays yours

The lynchpin of Bitcoin success is the technological supremacy of this Blockchain. Thanks to such innovation, electronic transactions can be made much faster and safer. Blockchain encrypts data preventing access to it from all internal sources at every stage of transaction processing. The blocks containing data are stored in a decentralized manner which means the information cannot be deleted or forged.

While banks where we store our funds can be robbed or simply closed after claiming bankruptcy, when you invest in cryptocurrency, your money stays yours forever. Make sure that you work with reliable exchange platforms only and use official crypto wallets with multi-layer protection. Ideally, you should use a hardware wallet to ensure 100% protection of your assets.

Crypto vs fiat: what’s the difference?
The differences between cryptocurrency and fiat currencies

 

2. No government involved

Bitcoin Blockchain offers a revolutionary approach to asset handling: from now on, no middlemen such as banks or governments are required for transactions and exchange. They simply have no control over the circulation of digital assets and cannot access the data related to financial operations done with Bitcoin. Therefore, it disrupts the system that's been around for centuries and brings the power back into the hands of ordinary people.

If you care about liberty, the nonaggression principle, or economic freedom in general, you should do everything you can to use Bitcoin as often as possible in your daily life.” – Roger Ver aka “Bitcoin Jesus”

Integrity and safety of virtual money are one of the main reasons to invest in cryptocurrency. No matter what’s the official fiat currency in your country, and which fluctuations it is experiencing – cryptocurrency does not depend on it. While some countries practice fine withdrawal from citizen’s bank accounts, it cannot happen in the virtual environment – no third party can access your crypto wallet.

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3. Blockchain plays a crucial role

Although it allows for anonymous transactions, Bitcoin is built on the principle of transparency. That means that the details of financial operations are stored in the Blockchain and can be viewed when necessary. This feature might be highly valuable for public transactions. The whole community can reap benefits from a crystal clear system of asset allocation. Here we tackle not the financial issue only — Blockchain allows us to handle all the other information as well.

Altcoins being widely adopted in a wide range of spheres: ICOs in different niches are being introduced every day, and usual businesses start implementing Bitcoin payments as well. This is a versatile currency that erases international borders. Thousands of Bitcoin ATMs are already installed in large cities around the world, and it's only the tip of the iceberg. BTC and altcoins provide us with umpteen possibilities replacing all existing fiat currencies both theoretically and practically. It becomes a more convenient, safer and faster way of payment and transfer.

Eric Schmidt’s quote about crypto
Eric Schmidt’s quote about the significance of Bitcoin and other cryptocurrencies

4. Investment is as simple as never before

Wonder “How do I invest in cryptocurrency?” Everything is easier than you think! Now, every person with access to the Internet and free funds can make an investment. Here’s a short scheme of how it works:

  1. You need to have a plastic card to purchase crypto online.

  2. Create a cryptocurrency wallet. It can be either the wallet for some certain coins or a multicurrency wallet.

  3. Find where to invest in cryptocurrency. As a rule, people make transactions in online exchange platforms.

  4. Create a purchase offer, or find ready requests to answer.

  5. As soon as you make a purchase and pay for the crypto, coins will be transferred to your wallet.

Now you only need to track cryptocurrency fluctuations and purchase and sell coins in a timely manner to make a profit. The golden rule of trading is NOT to invest what you can’t afford to lose. Invest the money that you can live without, and don’t panic after the first currency fall – it’s better to wait over.

“What cryptocurrency should I invest in?” Bitcoin is not the only option – if it was easy to mine a few years ago, now it’s impossible to obtain in any way except for buying. Don’t despair, there are hundreds of altcoins! They aren’t equally reliable, and you need to analyze them carefully. With boatloads of information online, you can make certain conclusions and make the right choice.

5. Forecasts are promising

As a potential or real investor, you focus on long-term viability and profitability. If you analyze every cryptocurrency shift, it can drive you crazy – you can be sure that you’ve made a wrong investment decision. Being in panic, you can sell the coin for a lower price than you purchased it for while holding would be a better idea.

Why invest in cryptocurrency for long terms? Cryptocurrency fluctuations are inevitable. They happen all the time, that’s why making short-term predictions is harder than long-term ones. Despite the major surge of cryptocurrencies which happened in January 2018, Bitcoin and other popular cryptocurrencies are likely to grow within 2-5 years. Most forecasts are optimistic. Therefore, if you’re looking for a serious investment with serious profit, opt for longer terms, at least 1-2 years.

What the major cryptocurrencies will be worth in 5 years? Let’s check the numbers at WalletInvestor:

Cryptocurrency

Current price

5-year Prediction

Bitcoin

$6,503

$24,183

Ethereum

$223

$3,480

Litecoin

$57

$481

Ripple (XRP)

$0.46

$2,57

Monero

$110

$179

EOS

$5,8

$35,7

Zcash

$123

$1925

Bottom line

Cryptocurrency creates a new era for the modern economy, a utopian system where everyone can stay confident in the privacy of their assets by transferring them around the globe without limitations. It provides us with new possibilities, and getting profit is one of them. Being among the first to buy crypto, you create history and help the world economy to make a serious switch.

“Should I invest in cryptocurrency?” The answer is resounding “Yes!” Choosing cryptocurrency as an investment is a wise solution if you place a bid for the right horse. Don’t hesitate to invest in technologically advanced Blockchains and popular coins – most of them will sooner or later gain momentum to grow in price, which can bring you considerable profits.

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What If I Send Bitcoin to the Wrong Address?

📚 Wikicoin
With increasing transactions, it is important to understand what happens if you send Bitcoins to wrong addresses. Ways to stay safe with your cryptocurrencies.
What If I Send Bitcoin to the Wrong Address?
Contents

An often-asked question, what happens if one sends Bitcoins to a wrong address? Let us first understand what we mean by sending a Bitcoin to a wrong address. We have the following scenarios:

1)     Trying to send Bitcoin to a different Blockchain, for instance, Litecoin

2)     While sending Bitcoin from your wallet to another typing the wrong wallet address

3)     Typing an address that appears to be valid but is not the intended address

We will take up each of the following cases individually. But first, let us understand how addresses work in a Blockchain and how likely it is for you to commit a mistake.

To start with, it is important to understand that in a cryptocurrency like Bitcoin, you are the sole owner and controller of your currency. This means that there is no higher authority to appeal to if you make a mistake.

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Case 1: Sending your Bitcoin to a differing Blockchain

This is nearly impossible as almost all wallet clients are implementing a checksum to validate a destination address. If you put say a Litecoin address as the recipient of a Bitcoin transaction, nearly every wallet will say it is an invalid address. This is because each Blockchain has its own way of building an address. Bitcoin wallet addresses start with a “1” whereas that of Litecoin start with an “L.”

Multi-signature wallet addresses are an exception to this rule, as Bitcoin and Litecoin multisig wallets often start with a “3.” In this particular case, an accidental cross-Blockchain transfer could really happen. If the Blockchain recognizes the address as a valid one, then it is difficult to trace the money. Once the transaction is confirmed by the network, there is no stopping it.

However, if there are no confirmations, one could attempt to resend the transfer to a different address by using the child-pays-for-parent method.

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Case 2: Trying to send a Bitcoin to a wrong address

We would like to establish a simple rule for your safety- Never type an “address” into any system! Always copy past the address while making a transaction.  

This said, let us now establish what happens if you type an invalid address into the system. As already discussed Bitcoin addresses are defined by a 32-bit checksum, which makes it almost impossible to type a valid address by mistake. The probability of doing so is about 1 in 4.3 bln.

What a relief! In actuality, a mistyped address will be caught by your own wallet or service way before people start taking a peek at the Blockchain.

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Case 3: Typing an address that passes the checksum

Now, this is the most typical case. You may think that this transaction may fail if there is no wallet created for the address. This is not true- the transaction can go through as the Blockchain does not know which wallet addresses exist. It only knows when valid addresses appear.

The scenario where you have sent Bitcoins to an address that appears to be right but does not belong to anyone would lead to a permanent loss for you. Technically the money is still there in the system, but no one has the private key to use this money.

One possibility to explore is to create a wallet that matched the receiving address. Unfortunately, this is impossible because wallets are created through a random one-way process.

Let me take the time to explain the magnanimity of the number of wallet addresses that can be created in Bitcoin. A wallet address is a string of 34 characters (letters and numbers) from the 10 digits and the 52 upper/lower case English letters. Only four are excluded to avoid entry errors (O, 0, I, L). This gives a total possibility of 1060 different addresses.

Put simply, this number is greater than all the atoms in our galaxy. Hope you can now visualize the complexity of trying to locate a wallet where the owner is not known.

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20 Best Bitcoin Cloud Mining Sites in 2018

📚 Wikicoin
Cloud mining offers many advantages over physical mining rigs
20 Best Bitcoin Cloud Mining Sites in 2018
Contents

You have been thinking about mining Bitcoin or cryptocurrency for awhile, but you are not sure about spending thousands of dollars on a mining rig nor the massive quantity of electricity that would be required to mine. Electricity costs vary country to country, region to region. Now, that you have thought this over, it might not be a very profitable venture due to these high start-up costs. That is where cloud mining comes into play. This article will dive into the details about the best cloud mining sites, the best cloud mining services.

The nuts and bolts of mining

Where does cryptocurrency come from? While paper money is printed and distributed by the government, Bitcoin and altcoins are generated in a different way. Miners use special equipment and software to solve mathematical problems and approve transactions – in other words, they sustain faultless functioning of the Blockchain by providing the computing power. Thus, the currency is issued by the miners for incentives.

During the mining process, a hash of a transaction block is created: it’s impossible to forge, which protects the integrity of blockchain and eliminates the need of a centralized system. As a rule, mining is done on a personal computer with a fast and strong CPU. However, considering the complexity of computations, one PC isn’t enough already – a mining rig can provide the optimal computing power.

Why mining at the low speed isn’t an option? Here we tackle the competitive issue: say, several miners are generating a transaction block. The reward will be sent only to the miner who generates it first. Therefore, powerful equipment is essential for staying ahead of competitors and reaping benefits.

Hardware vs cloud mining

The principal difference between traditional and cloud mining lies in whom the mining facilities belong to. Hardware mining presupposes buying all the components for a mining rig, installing it at your place and paying for electricity bills on your own. With cloud mining, you just need to find a suitable package and make an agreement with the provider. The company that provides its mining cloud servers charges some certain fee (as a rule, about 3% from reward + withdrawal fees).

Let’s observe the pros and cons of each solution:

 

Pros

Cons

Hardware mining

- The hardware belongs to you, you are free to configure and adjust it

- Traditional mining is the only way to develop your IT skills and become more tech-savvy

- The hardware is expensive, while minor investment isn’t always paid off

- The hardware is up and running on a 24/7 basis, which results in enormously expensive electricity bills and a lot of heat

Cloud mining

- Absence, or low maintenance cost

- You don’t have to wait for the hardware to be available – mining starts as soon as you purchase service

- No hash rate fluctuations

- No maintenance, no physical space is required

- Daily payouts

- The initial cost compared to purchase of your own hardware can still be high enough, though it’s paid off

- Some mining companies are scams

- You don’t educate yourself on mining and don’t experience such excitement as usual miners do

Benefits of best cloud Bitcoin mining

  • You don’t have electricity costs, besides using your own computer to go to the cloud mining site. Cavet: you might have an electricity fee from the cloud mining company. Many companies have data centers in Georgia or Iceland where electricity is cheap.

  • You can participate in the best Bitcoin cloud mining without maintaining the hardware on your own.

  • No investment in mining equipment necessary, your personal computer will get you started in most cases.

  • No ventilation problems with hot equipment--Some hardcore miners use the heat from their mining rigs to heat their homes during the winter! Yes, mining rigs get that hot.

  • Start mining with even just one gigahash.

More on this topic: Math Teacher Solves Cryptocurrency Mining Energy Crisis

The basics of Mining

To get started with cloud mining, you must enter into a mining contract. This contract will specify the hash rate and length of time. A higher hashrate will lead to more coins being mined and electricity consumed. You can expect to pay about $170  for a 1000GH/s hash rate. A cloud mining contract’s length can range from six to 36 months or more. Make sure to check into and understand these rates on offer by the cloud mining company. When it comes to making money with cloud mining, your return on investment will be determined by a number of factors:

  • Bitcoin price  

  • Exchange rate of Bitcoin into local fiat currency

  • Electricity  

  • Contract price from cloud mining company (You must pay to play!)

  • Any maintenance fees set forth by the mining company

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Categories of cloud mining

  • Hosted Mining: Leasing a machine that is provided by the cloud mining provider. You will have physical equipment.

  • Virtual Hosted Mining: Your own virtual private server with mining software installed.

  • Leased hashing power: Lease a portion of the company’s hashing power, without the need for a physical or virtual machine. (This is the most popular method of cloud mining).

Avoid scams

The cryptocurrency sphere is filled with scammers. Almost every day, the headlines flash the latest ICO fraud, where a scammer used an ICO as a front to raise money for a fake company and then make off with all the money. The case is no different for mining, mining pools and cloud-based mining. If you have to pay money, pay attention to where it is going before you invest. The following are some tips to avoid being scammed.

  • Data center photos:

It’s important to see the machines you are going to be mining on. You would not buy a car without seeing it first, right? The same applies to cloud mining. If a company is running a legitimate cloud mining business, then there should be photos of its datacenter available to view. If not, then suspicions can arise.

  • Mining address:

A mining company that does not have and address or signed mined block could be the warning sign of a front. Usually, companies can be verified through its address on the Blockchain. Also, the company should sign the blocks that it mines to confirm ownership.

  • Avoid claims of limitless processing power:

“As much as you want for one low price.” Really? No. Any mining business will be constricted by how many hashes it is able to rent out to its customers. If a company claims that there is no limit to its hashing power, or does not provide this information, then the firm should be avoided.

  • Inability to withdraw balance:

If you can put money in, but can’t take it out, then chances are high it is a scam.

  • Hidden domain contact details:

Normal businesses go to great lengths to prove that they are trustworthy. Contact information should be readily available and provided without hesitation if requested. Private domain registration is a scam indicator. Beware!

Looking at the downsides, it is important that you conduct your own due diligence when it comes to cloud mining. Remember to read though contracts thoroughly to understand what you are setting yourself up for. If you don’t understand something or the legal speak is too convoluted, there is a good chance something dubious is trying to be hidden.

However, this not to say that every company in the mining space is illegitimate. Although the cloud hashing business is filled with scams, there are some reputable companies out there, and they could provide you with a profit under the right conditions. Now on to investments and profits, is cloud mining worth the risks?

More on this topic: 10 Best Bitcoin Mining Software 2018

5 Notorious Cloud Mining Scams

Beware of the websites below! They ceased making payoffs and lost credibility.

Fleex

This project was established in July 2017. It allowed mining Bitcoin, Dogecoin, and Litecoin offering 2-3% daily revenue. Fleex offered a 100 Gh/s registration gift and two-level partnership program. There was no withdrawal and deposit fee, and the opportunity to rent computing power for an unlimited period of time. Unfortunately, the website closed in August 2018.

Rapidminers  

This project promised 3-7% daily income and welcomed newcomers with a 100 GH/s bonus. It allowed mining for BTC, LTC, DOGE and – surprise – USD! Rapidminers leveraged a level system – the more you pay, the more is your income. The scheme seems to be crystal-clear, however, Rapidminers soon proved to be nothing more but a scam. The website was profitable for less than a month.  

Cryptomonitor

It is worth noting that Cryptomonitor has been existing for a comparatively long time – it operated almost 1000 days before being shut. It specialized in BTC mining and accepted BTC and USD. The website also provided an exchange platform, blog and referral programs. Cryptomonitor promised daily income from 0.1 to 2.0%, and it used to be profitable until July 2018.

Micro-BTC

Being launched in 2015, Micro-BTC offered lifetime 30 GH/s computing power for the newly registered users. It accepted BTC payments and didn’t charge for deposit and withdrawal. The website provided datacenters in Europe and the USA. Since October 2017, it ceased making payments.

HashPerium

The project was launched in March 2018 for mining Bitcoin and provided 3 datacenters in Iceland, Russia, and China. HashPerium offered 135Gh/s bonus and up to 11% daily profit, which is too generous for a trustworthy project. Another sign of a scam is the fact that there was no information about who’s in charge of HashPerium. Crypto experts also claimed it to be just another Ponzi scheme and were right. In fact, the project existed for two weeks only!

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Worth the investment?

While many reminisce over the early days of Bitcoin mining, when you could use your desktop or laptop to mine and the rewards were much higher, the matter of fact is that it is still a risk. This is because you must make an initial investment to join a cloud mining service and pay overhead costs, which eat into your profits. The more hashing power you lease, the more bitcoin you can mine, but again it comes with higher costs. In other words, it is spend money to make money.

More on this topic: 5 Ways to Earn Passive Income with Cryptocurrency

Another factor to keep in mind is the price volatility. This is akin to gambling because if the price of Bitcoin or another cryptocurrency decreases, you are then losing more of your profit to price volatility. On the flip side of the digital coin, there is the chance the price will increase and you will maximize your earnings. On the contrary, all mining options aside, the simplest investment is to buy a currency from an exchange and hold it until you can sell it for your target price. This way avoids the contracts, the fees, and everything that complicates the direct path to a cryptocurrency profit.   

Top 20 best Cloud Mining services

Take some time to browse though these sites to determine the best cloud mining ROI, the best cloud mining Litecoin, the best Ethereum cloud mining, how much the plans are, the fees etc, before you commit. Some contracts can be as long as two years! So you will want to be sure you committed to the right plan that gets you the best earning potential.

1. Hashflare

Being established in 2015, Hashflare service has quickly gained a stable position on the cryptocurrency mining market. It provides computing power for BTC, ETH, LTC, and other essential altcoins. Hashflare is an independent service that has extended its mining facilities thanks to a partnership with Bitmain, Bitfury, and Inno3d. Hashflare service is easy for starters to use, that’s why it’s exploited by over 2.5 mln clients. In July 2018, Hashflare canceled the contracts and ceased its activity not being able to put up with maintenance expenses. However, there’s still a chance that it can be restored.

2. Genesis Mining

It’s one of the biggest cloud mining services that started providing the facilities since 2014. Genesis Mining works with Bitcoin, Litecoin, Dash, Dogecoin, and Monero. It operates three mining centers (Island, Canada, and Bosnia) and is used by 2 mln miners.

3. Hashing24

This Bitcoin mining service has been around since 2015. Hashing24 offers top-notch data centers in Georgia and Iceland. The website is simple and intuitive, the interface is present in 9 languages. The company partners with leading mining providers, including BitFury, and ensures a decent level of service and customer support. The pricing policy is quite agreeable: the cost of contracts varies from $19 to $68 for 100 Tb/s.

4. Bit Miner

This is not a website that provides Bitcoin cloud mining facilities – Bit Miner is rather a browser extension that promises to bring you 60,000 satoshi every day with $0.04 daily investment only. At first glance, the website looks professional and serious. However, the vast majority of customer reviews prove that Bit Miner is just a scam – as soon as you start withdrawing more or less worthy money, the service fails. It can be used to mine for a few days only. Besides, keeping your browser opened even half a day is inconvenient.  

5. OxBtc

At first glance, this cloud mining service can look confusing because it’s a Chinese website (there’s an English version, too). OxBTC is a reliable platform that not only offers cloud mining contracts but allows users for renting their own computing power. OxBtc has a pretty sweet concept of loyalty programs, referral programs, discounts, and free computing power giveaways. A nice choice for starters.

More on this topic: Bitcoin Cloud Mining Profitability- Is It Worth It?

6. The EOBot  

This is one of the oldest cryptocurrency cloud mining platforms: it was launched in 2013 and is still among the top cloud mining websites. The EObot allows mining large variety of crypto coins, including Bitcoin, Ethereum, Monero, Ripple, and Litecoin. Users consider Cloud SHA-256 4.0 5 Year Rental the most profitable option. What makes it a good choice?

  • The website is present in many languages, navigation is a no-brainer.

  • 8 mining algorithms and a comprehensive choice of packages.

  • Low minimum withdrawal threshold.

7. BTCsweet

BTCsweet is one of Top-10 cloud mining websites according to netbusinessrating.com. It supports several payment methods and allows mining Bitcoin only. New users get 5GH/s registration bonus, and there’s a profitable referral program (5-10%). The website has a bare-bones design, but it’s quite user-friendly and convenient. However, customer support leaves a lot to be desired: only tickets and phone calls for VIP members. The absence of maintenance fees is somewhat confusing – it is a typical scammers’ trick, though BTCsweet doesn’t seem to be a fraud yet.

8. Hash Gains

At first glance, the website looks professional and reliable. There’s a wide choice of tariffs – the more you invest, the higher is the revenue percentage. It was founded in 2016 and quickly gained the audience. Hash Gains uses advanced and reliable GPUs sustaining optimal speed and reliability of cloud mining. Hash Gains seems to be a reliable project until you take a closer look to its details: it offers 200% profitability, which is unrealistic.

9. Plan - C

This is a Georgian-based project: the team behind it uses eco-friendly mining facilities that sustain the optimal speed and power. At the moment, Plan – C can be used to mine Ethereum, Dash and Bitcoin, but other coins will be added soon. The website offers 1.5-10% income, which sounds reasonable.  Please, note that Plan – C leveraged a so-called ‘Cryptomix’ scheme – it’s a combination of mining and trading. It has a well-established affiliate program, but it only puts the project lifespan under question.

10. JSECOIN

JSEcoin is a browser plugin for mining JSE proprietary coin. The software is easy in use: it’s installed in the browser, and as soon as the user selects the level of loading (from 1 to 9) and activates it, the mining process is started. The process of mining can be controlled. The coins you earn can either be stored on the website, or sent to your Ethereum-compatible wallet. The main advantage of JSEcoin is the fact that no investments are required (unless you bought some coins during ICO), but don’t expect any serious reward: at the moment, 1 JSE = $0,001707.

11. NanoMiner

NanoMiner can be a bit confusing name because it actually allows for mining Monero which can be converted to Nano further on. This website doesn’t charge for transactions, so it’s perfect for handling small payouts. The service is very easy to use: this is a browser mining solution: you install it in your browser and leave up and running. For some users, small payouts may be not worth leaving their browser opened, but this option is pretty good for beginners.

12. MyCoinCloud

This Bulgarian-based project has been around for almost 3 years. Although MyCoinCloud cannot boast a large variety of coins for mining (only five coins are supported), it proves to be reliable and trustworthy. There’s a very large variety of contracts: started can get their feet wet using a 37.1 XMR mining contract and make a normal profit within 3 years, while $2995 contract for Bitcoin will be paid off within 2 years. The contracts are lifetime ones. Maintenance fee is $0.10 per KW/h, no referral system provided. Generally, the website is easy to use, and it offers adequate fees.

13. Bitcointrain

The Bitcointrain website provides a lot of crypto-related services, and cloud mining is just one of them. The minimum contract duration is 1 year, and you can start with any deposit amount, even a couple Satoshi. Average profitability is 0.5% daily. Bitcointrain promises that you can use the equipment for as long as you want – sounds too good to be true, but no one complained yet. There’s an interesting affiliate program that allows earning 50% from the faucet, 5% from the purchase of a cloud contract, and 0.5% from browser mining.

14. Hashnest

Present in the Net since 2014, Hashnest (BitMain’s project) allows mining Bitcoin and Litecoin and ordering a miner transferred into hash rate (Antminer models are available). It is one of the biggest cloud mining platforms: in 2015, Hashnest already counted over 43,000 users. The most outstanding feature of Hashnest is Payout Accelerated Cloud Mining Contract (PACMiC): such approach reduces risks and helps users to return the initial investments in case of non-profitability.

15. Elysium

The company was founded in 2016 in Hong Kong, and it offers a decent choice of contracts starting from 0.03 BTC starter package and finishing by 5 BTC VIP package. It should be noted that Elysium puts a heavy focus on the referral program, which is why some suspect it’s a Ponzi scheme. Anyway, the platform allows making regular payouts using various payment platforms and is quite easy in use. There are no withdrawal or exchange limits.

16. IQMining

This is a Russian project that was launched in 2016. The main benefit of IQMining is the fact it allows for mining over 100-150 different altcoins, and there’s a myriad of contracts available (most are 5-year contracts, lifetime contracts have been introduced recently). Such profitability as 50%/month is too good to be true, but the website still functions and makes fair payments. It has data centers in Europe and Asia and ensures 99.5% uptime. If you’re a patient investor, trying this project makes sense.

17. CCG Mining

The website was established in 2017 and allows mining six major cryptocurrencies: Bitcoin, Ethereum, ZCash, Monero, Litecoin and Bitcoin Cash. CCG Mining offers three tariffs – not much to choose from. The maintenance fee is 0.00034$ per 1 GH/s for Mini package, 0,136$ for Starter and 8.5$ for Pro. There’s a profit calculator available, but it’s a bit illogical: it shows 247-day payoff period for all tariffs, and doesn’t consider the maintenance fee. Therefore, you should make your homework before signing a contract with CCG Mining – it’s not a scam, but still can be an unjustified investment.

18. Just-Mining

Number 3 mining website according to netbusinessrating.com, Just-Mining supports cloud mining of 4 coins: BTC, ETH, ETC, and ZEC.  The vast majority of reviews are positive, and users claim that payouts are made on a regular basis. Unfortunately, the website is present in French language only, so navigation can be pretty challenging. But if you’re ready to deal with such inconvenience, this is a great chance to rise a bit of cryptocurrency, or EURO – as you choose.

19. Suanlitou

Suanlitous is a Chinese project that was founded in 2017. It offers Bitcoin cloud mining and hash rate trade market. What users like is adequate fees: 0.071USD/kW·h electricity costs and 6% of daily revenue. There are two types of contracts available, but they can be adjusted: the online price calculator will help you to choose an optimal hash rate and contract duration. Just like other Chinese cloud mining websites, Suanlitou uses Antminer devices (S9 in this case). Users are free to sell their hash rate to BTC anytime. There are no signs of scam – use without hesitations.

20. ViaBTC

The world witnesses a true burst of Chinese cloud mining platforms, and ViaBTC is one of them. Being based in 2016, it allows for mining BTC, BCH, and LTC. Just like the previous provider, ViaBTC works with S9 Antminer and offers unlimited contracts. The cost of services is $199 - 1 TH/s for Bitcoin, and $5.90 - 1 MH/s for Litecoin. One interesting function is auto switch option: you can switch from mining Bitcoin to Bitcoin cash depending on what’s more profitable. Payouts are made on a daily basis. The website is available in different languages, so you aren’t likely to face any troubles when navigating it.

 

Established

Headquarters

Currencies

Contract cost

Number of users

Traffic*(last 6 months)

Countries*

Hashflare

2015

Estonia

BTC, LTC, ETH, Dash, ZCash

Bitcoin — $0.8 per 10 GH/s

Liteсoin — $1.8 per 1 MH/s

Ethereum — $1.8 per 100 KH/s Zcash — $1.4 per 1 H/s

DASH  — $3.2 per 1 MH/s



 

2.5 mln

?

Russia, Ukraine, Brazil, USA, Germany

Genesis Mining

2010

Hong-Kong

Bitcoin, Litecoin, Dash, Dogecoin, Monero

5-year contracts:

$285 - 1 TH/s

$1,400 - 5 TH/s

$6,875 - 25 TH/s

2 mln

?

USA, China, Russia, EU

Hashing 24

2015

Scotland, Thailand, and Ukraine

Bitcoin

$ 68.5 per 100 Gh/s

+ $0,00033 daily maintenance fee

?

352.98K

USA, UK, Russia, Spain, China, Thailand, Indonesia

Bit Miner

2016

USA

Bitcoin

15% reward fee

?

?

Europe, China, USA, Iran

OXBTC

2014

China

Ethereum

ETH HOST01 (91% annual profit) - $16 per 1 MH/s

GHS HOST01 (177% annual profit) -  $0.099 per 1 GH/s.

Over 80,000

90.57K

USA, Germany, China, South Korea, Russia, Austria, Indonesia

The EObot

2013

The USA, Brazil

BTC, ETH, LTC, Bitcoin Cash, Doge, Ripple, Dash, Golem, Cardano, CureCoin, NEM, Monero, Zcash, Factom, Bytecoin, STEEM, Lisk, EOS, Gridcoin, and Ethereum Classic

From $0.00117/GHS/Day to $0.00021/GHS/Day

Over 2,148,047

10.18M

Brazil, Russia, Ukraine, Venezuela, India

BTCsweet

2017

USA

Bitcoin

0.18$ per 1 GH/s

0% maintenance fee

?

157K

Morocco, Algeria, Nigeria, Saudi Arabia, Indonesia.

Hash Gains

2016

USA

Bitcoin

$350 – 1 TH/s

$1,750 – 5 TH/s

$3,500 – 10 TH/s

$5,250 – 15 TH/s

10,000

70.80K

20.32%

USA, Germany, Turkey, Indonesia, India

Plan - C

2017

Georgia

Bitcoin, Ethereum, Dash

Bronze Package ($250) – one share

Silver Package ($1000) – five shares

Gold Package ($5000)

?

?

Georgia

JSECoin

2017

UK

JSE

No contracts

118,000

650.91K

Brazil, USA, Ukraine, Russia, Germany

NanoMiner

2017

Germany

Monero

No contracts

?

43.5K

Brazil, USA

MyCoinCloud

2015

Bulgaria

BTC, ETC, ETH, XMR, ZEC

Starting from S37.1 for 50 H/s (XMR) and finishing by $5990 for 30 TH/s (BTC)

Over 1,000

50.92K

Bulgaria, Germany, Switzerland, Italy, Poland

Bitcointrain

2017

Germany

BTC

$20 per 10 sol/s

?

68.63K

Germany, Ukraine, Russia, Brazil, Indonesia

Hashnest

2014

China

BTC, LTC

$ 1699 for Antminer hash rate with maintenance fee $0.21/TH/Day

?

224.05K

Brazil, Russia, Poland, Slovenia, USA

Elysium

2016

Hong Kong

BTC

From 0.03 BTC to 5 BTC (annual contracts)

106,470

72.01K

Russia, Ukraine, Kazakhstan, Canada, Turkey

IQ Mining

2016

Scotland/Russia

>150 coins

SHA-256:

$ 300 per 3000 GH/s

Scrypt:

$ 600 per 300 MH/s

53,326

302.64K

Russia, Brazil, Ukraine, UK, USA

CCG Mining

2017

Poland/UK

Bitcoin, Ethereum, ZCash, Monero, Litecoin and Bitcoin Cash

Mini — 9.89$ / 100 GH/s,

Starter —  32.99$ / 400 GH/s

Pro — 1849.99$ / 25000 GH/s

Up to 10,000

378.61K

Ukraine, Russia, Armenia, Moldova, Georgia

Just-Mining

2017

France

BTC, ETH, ETC, ZEC

1.99EUR inc VAT / H / s

Reversive: 23.90EUR TTC for 9.5 H / s or 1 MH / s

Etherum: 14.99EUR TTC for 1 MH / s

16,000

83.07K

France, Belgium, Vietnam, USA

Suanlitou

2017

China

BTC

6% management fee, and electricity cost 0.071 USD/kW·h

Over 2,000

?

China, USA, Canada

ViaBTC

2016

China

BTC, BCH, LTC

$199 - 1 TH/s S9 bitcoin miner share

$5.90 - 1 MH/s L3+ litecoin miner share

Over 462,374 miners on BTC only (up to 750,000 overall)

575.35K

Russia, China, Germany, Venezuela, Vietnam

* data obtained from similarweb.com

These 20 cloud mining services are worth consideration: they make regular payouts and provide decent customers support. But before being harnessed by contract bonds, evaluate your budget, read the fine print and calculate profitability – not all projects are equally beneficial.    

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How To Protect Your Bitcoin From Hacking - Guide For Saving Your Money

📚 Wikicoin
This guide shares some of the most secure options you can rely on for keeping all your Bitcoin safe at all times
How To Protect Your Bitcoin From Hacking - Guide For Saving Your Money
Contents

How to protect my Bitcoin is probably the hottest question today. With cryptocurrencies becoming ever more valuable, a significant increase in hacking attempts has been observed of late. And, with Bitcoin being the most popular crypto coin available today, there are serious concerns in investors on how secure Bitcoin is.

Remember, once your accounts have been compromised and hackers manage to claim their control, it’s just a matter of seconds for them to rob you of all your Bitcoin. So, that’s probably why you should be proactive and must know how to protect your Bitcoins and other cryptocurrencies you own. In addition, you need to keep a regular check on your Bitcoin wealth to make sure it is where it should be.

With that being said, it’s not too difficult, however, to keep your Bitcoin away from the reach of hackers. All you have to do is to implement some simple Bitcoin security tips and you can easily ensure the safety of every single Bitcoin you own. However, before we get into that, let’s first try to find out the working mechanism of Bitcoin wallets.

How Bitcoin wallets actually work

First and foremost, Bitcoin isn’t some physical commodity that you have to store somewhere safe. Bitcoin isn’t some object; rather it is an address on Blockchain that is stored after encryption.

When you are in possession of a Bitcoin, you actually have a particular unique key which can be used for unlocking a certain Bitcoin location. So, you have to protect that key by keeping it in a reliable wallet so that someone can’t steal it away.

Now, coming back to Bitcoin security, there are several ways of storing your cryptocoin and ensuring that hackers stay away from it at all times. Let’s check out what options do you have.

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Bitcoin security guide for keeping your wealth safe

This Bitcoin security guide shares some of the most secure options you can rely on for keeping all your Bitcoin safe at all times. You can even use these options in combination to ensure maximum protection.

1.     Always have a backup

Regular backups of your Bitcoin wallet will ensure that you have your Bitcoin keys safe with you in a second location should something goes wrong. With a regular history of your backups, your currency can easily be recovered from your digital wallet. You should backup each and every wallet.dat file and keep it somewhere safe. For added security, keep the backup in multiple locations and guard it with some solid passwords.

2.     Keep software updated

If you’re concerned about Bitcoin security, make sure that your wallet software is updated. But if it’s not, your Bitcoin would potentially be a very soft target for the hackers. Wondering how latest software can protect your Bitcoin?

Well, it comes equipped with better overall security system and can offer better security against latest hacking techniques being implemented. Besides, any security glitches are also patched in the latest security protocols and it can certainly help keep the most seasoned hackers away from your Bitcoin.

3.     Have 2-factor authentication in place

Activating 2-factor authentication on your Bitcoin wallet is, probably, among the very first steps you should take for ensuring better safety of your Bitcoin. With 2-factor authentication activated, you’re sure there’s an added layer of security that hackers would have to bypass in order to access your Bitcoin.

Also, no one would be able to access your cryptocurrency unless they have access to your phone as well. It’s, probably, among the initial advice when someone asks how to protect my Bitcoin and the option is available with almost all major cryptocurrencies.

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4.     Use multi-signature

Multi-signature is quickly getting popular as a source of added security for Bitcoin. It requires several people to approve a transaction before it is actually carried out. As a result, the treat of Bitcoin being stolen is minimized as there’s not a single server or controller that can carry out Bitcoin transactions. You’re required to specify the people authorized to transact at early stages of the process and when a transaction is initiated by one of them, other authorized individuals must approve it before it can actually happen.

5.     Encrypt the Bitcoin wallet

Encrypting your Bitcoin wallet is also a source of enjoying added security. When you are dealing with encrypted files, folders or messages, you must have right key for unlocking it and accessing everything inside. So, when you encrypt your Bitcoin wallet, it means that anyone trying to access it would need the right key or password to be able to do so. When you are using mobile, hardware or desktop wallets, encryption becomes imperative for protecting your Bitcoin.

6.     Use secure devices to access your Bitcoin accounts

Probably one of the most important Bitcoin security tips, you really need to understand the importance of accessing your Bitcoin accounts only from the most secure devices. Never use public Wi-Fi networks or public computers to use your Bitcoin accounts or to make any transactions. Doing so will ensure that nobody can ever know your password and use it for stealing away from you.

Furthermore, rather than downloading different applications directly, you should only be using official sources for moving your Bitcoin or checking your account. Doing so will ensure that your Bitcoin, and other cryptocurrencies for that matter, remain protected.

7.     Rely on cold storage

When we talk about Bitcoin, cold storage actually refers to keeping your Bitcoin stored in a safe location offline. There can be different options that you can try in this regard and they include:

·       USB drives or any other offline storage media

·       Bearer items like physical Bitcoin

·       Paper Wallet

·       Offline Bitcoin hardware wallets

If you’re concerned about how to store Bitcoin on any of these offline storage options, you’ll have to explore them further. However, rest assured that there’s nothing too difficult about it and you’d be able to do without much of a hassle.

So, hopefully, this Bitcoin security guide will help you in keeping your Bitcoin safe and away from the access of hackers. Just make sure you implement the above security ideas to perfection. In fact, using a few of them in combination would turn out to be an even better idea.

And, once you do that, you can easily focus on your Bitcoin trading and making more money than ever without having to worry at all about those hackers and other such elements who are always on the verge of robbing you of your Bitcoin and other wealth you may have in the form of different cryptocurrencies.

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How High Ripple (XRP) Price Can Go — XRP Price Prediction for the End of 2018

📚 Wikicoin
Despite its ebbing price, XPR is likely to appear at the forefront of financial revolution
How High Ripple (XRP) Price Can Go — XRP Price Prediction for the End of 2018
Contents

Ripple appeared on the horizon in 2012 with an intention to transform the financial system with its decentralized payment solution. Ripple’s token XRP is serving as a lingua franca of cross-border transactions, making them faster and cheaper.

Ripple

The sudden rise of Ripple provoked a stir in the payment industry, and it poses a major threat to SWIFT, a 45-year-old interbank messaging system that is responsible for almost half of international payments as of 2018.

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What is happening to XRP?

As of Oct. 11, XRP price plunged by almost 13 percent in merely one day, currently hovering above $0.40. While this drop is quite predictable due to Bitcoin’s recent nosedive (the king of crypto has recently dipped by five percent after a long period of unprecedented stability), XRP definitely had a wild ride during the last month. The currency had a massive rally on Sept. 23, reaching its recent high of $0.69.

What is happening to XRP?

Ex-Wall Streeter Mike Novogratz, when asked to share his take on recent Ripple’s surge, claims that he simply doesn’t get it.

When something jumps 3x, I don’t understand. You know, it’s a short squeeze, to a degree,” — Mike Novogratz.

In just three days, after briefly dethroning Ethereum on CoinMarketCap, XRP lost 30 percent of its price, which subsequently wiped off $9 bln of its market capitalization. XRP’s current market cap is sitting at $16.3 bln.     

Hyping up xRapid release

Ripple’s xCurrent has been already adopted by more than 120 banking institutions around the globe. Earlier this September, the US banking giant PNC also jumped on board, starting to accept cross-border transactions with xCurrent. Hence, Ripple expects that its new product, xRapid, will replicate the success of its predecessor.
 

Ripple’s product

Function

xRapid

Replaces SWIFT’s archaic messaging system

xCurrent

Uses XRP as a bridge asset for cross-border settles (works with xCurrent)

xVia

Designed for corporates and payment providers, allows to send funds to multiple networks  


xRapid would allow banks to process international payments almost instantaneously by bridging different fiat currencies with XRP. After the initial currency is converted into XRP tokens, this sum of money will be converted back into the domestic currency of those who receive the payment.

xRapid

Ripple’s Brad Garlinghouse is certain that “dozens” of banks will be already using their xRapid product by the end of 2019.  

Why didn’t xRapid trigger another bullish momentum?   

Despite xRapid officially going live on Oct. 1, XRP price still went downhill. Why did it happen? The thing is, there is still strong speculative pressure surrounding Ripple, and once more clients are on board, it is possible that xRapid will indeed create more demand for XRP and push the token’s price higher. Many big-name financial institutions are yet to adopt xRapid.

If you happen to stumble upon Adam Smith’s magnum opus “The Wealth of Nations”, you already know that the market is driven by supply and demand. However, another takeaway from the book of the legendary Scottish economist is that markets also tend to be irrational. FUD provokes momentary decisions that have an enormous impact on the fledgling cryptocurrency market.

Bill Clinton was a mistake

On July 31, Ripple officially announced that the former US President Bill Clinton would be the keynote speaker during the aforementioned Swell conference. According to Observer, Ripple shelled out almost $500,000 in order to have such a high-profile speaker.

Bill Clinton was a mistake

During his presidency, Clinton propelled the growth of the Internet in the 90s during the dot-com bubble. However, the cryptocurrency community clearly wasn’t impressed with his highly-anticipated speech. He didn’t seem to acknowledge that Ripple could become the future of the financial industry. This was definitely discouraging for investors.

$589 by the end of 2018?

How high can Ripple go? While this prediction might sound outlandish even for permabulls, one cryptic theory claims that Ripple could reach $589 as early as in 2018. The story goes back to a now-defunct Reddit account Bearableguy123 who would post a cryptic picture that allegedly indicated future developments at Ripple on his subreddit. However, many users suggest that the guy was simply an attention-seeking troll, but there are also suggestions that he indeed was a Ripple insider.

But how ridiculous is this Ripple price prediction? Let’s do the math. In order to reach this mark, XRP would need to double its value every day. There are 82 days left in 2018, which essentially means that XRP would have to gain $588.60 more by the of the year. Subsequently, its price would need to add $7.17 every single day.     

So, where will XRP settle by the end of 2018?

Now, let’s take off our tinfoil hats and forget these astronomical figures, focusing on more realistic predictions. Garlinghouse, while expanding the difference between Ripple and XRP in an interview with CNBC, claims that he wouldn’t even try to predict how high Ripple will go. Therefore, let’s hear what experts have to say.

Nigel Green, CEO of deVere Group, recently voiced his prediction about how high could Ripple get. He believes that XRP could touch $1 by the end of this year. Moreover, he also claims that Ripple could almost double its price in 2019. He also thinks that the world will shift from traditional money in the nearest future, and Ripple will spearhead this process.   

XRP is proving to be one of the most useful cryptocurrencies for businesses,” — deVere Group  CEO Nigel Green.      

Forbes has recently gathered numerous industry experts do discuss whether XRP could touch $1 by the end of this year. Some analysts claimed that they were on the same page with Green. Marouane Garcon, managing director of Amulet, is certain that $1 is even a “modest” price point. On the other hand, an eToro analyst Mati Greenspan won’t make haste with bullish predictions, claiming that it’s a “distinct possibility.”     

Can XRP price plunge to zero?

According to a bombshell report presented by Satis Group, a San Francisco-based research company, XRP’s value could dwindle to $0.004 in ten years while Bitcoin could reach $90,000. The centralized nature of Ripple will take its toll on the currency’s price, the study states.

A well-known technical trader John Bollinger also shared his bullish Ripple prediction for 2018 back in August:

While we can’t completely disregard these predictions, there are certain factors that point to the fact that Ripple is here to stay (along with its native token):

  1. Ripple is extremely fast. The Bitcoin network, which can only process seven transactions per second (TPS), pales in comparison to Ripple with its whopping 1,500 TPS. This technology could stand in the same rank with VISA.

  2. Banks are embracing it. xRapid, after the success of xCurrent, is already picking up steam with banking institutions. XRP is seen as a much safer bet than other cryptocurrencies.    

  3. Investors are yet to find out about XRP. While Bitcoin and Ethereum have been on everyone’s lips after the December’s boom, Ripple’s familiarity is rather low outside of the crypto crowd. Once more traditional institutions start adopting its cutting-edge technology, XRP will get more followers, which will subsequently make its price skyrocket.  

The bottom line

The cryptocurrency industry is still immature, and it feels like the market is at an impasse (Ripple alone is down more than 85 percent from its January’s ATH). However, Ripple, with its robust technology and a warm welcome from banking institutions, won’t perish anytime soon despite its ebbing price. The price of XRP in 2018 will largely depend on what percentage of SWIFT’s market share will be captured.

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Dash: Faster Bitcoin That Governs Itself by Blockchain

📚 Wikicoin
Dash is a digital currency in the truest sense of the word as it aims at being functional for big buys, as well as the microtransactions that busy Blockchains struggle with.
Dash: Faster Bitcoin That Governs Itself by Blockchain
Contents

As the name suggests, Dash has been created as a digital coin that is trying to solve the problem of slow transactions that have recently been dogging the likes of Bitcoin, as well as working to slice down on the fees.

Dash is a digital currency in the truest sense of the word as it is aimed at being functional for big buys, as well as the microtransactions that busy Blockchains struggle with.

Similar to Bitcoin in the fact that its core function is to be a monetized digital asset that can be spent and stored, but Dash operates somewhat differently in its running.

Voting on the changes

Cryptocurrencies have always had a democratized aspect to them, in the case of Bitcoin, it is purely based on the majority as to what direction the coin takes. Dash provides more of a governance structure, but it is still set in a voting system.

This voting system helps changes happen far quicker than in other coins.

Dash is also self-funding as 45 percent of newly created Dash is handed to the miners, another 45 percent to the master nodes, and that final 10 percent goes to a treasury for funding the development team, marketing, customer support centers and so forth.

This is known as the Decentralized Governance by Blockchain (DGBB) and makes Dash the first decentralized autonomous organization powered by a Sybil proof.

Formerly known as DarkCoin

Dash, in the time where the Dark Web held the keys to the cryptocurrency universe, was firstly released as XCoin, then rebranded as DarkCoin.

The creator and lead developer of Dash is Evan Duffield, he along with the core development team, have grown to 30 full-time employees, 20 part-time employees and dozens of unpaid volunteers.

These core developers are all paid from Dash’s budget system which helps keep the focus and lead to less conflict of interest when other sponsors and donors are paying the bills.

Dashing up in value

Dash has, for a long time, been one of the top five coins by market cap. However, in recent times the instant payment coin has seen its value rise but its standing slip. Dash currently sits in 12th at the time of publication, yet its value in 12 months has gone from around $14 to a high of $1,542 at the end of last year.

Having begun in January 2014, Dash is one of the more stable and settled of the cryptocurrencies. It's development strategy and voting system is also quite unique and adds an extra edge of stability. Yet, Dash’s core ability to be fast and cheap has never been stretched far enough in a scaling situation.

Regardless, Dash saw a great year in 2017 after remaining almost on a flat line compared to the dollar price for its first few years. From February to December 2017, Dash’s trajectory was skyward throughout; it is only since the mass crypto drop just before Christmas that the coin has slowed its gain.

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