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How to store NEM (XEM) Offline (on USB)

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  • George Shnurenko
    NEM (XEM) guide

    A paper wallet is the safest way of storing crypto

How to store NEM (XEM) Offline (on USB)
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If you are not an active trader, a cold wallet will be the best option for you because it allows you to keep crypto offline eliminating the possibility of a hacking attack. There are two cold storage options: hard wallets (Ledger Nano S, Trezor) or paper wallets.

Hardware wallets help to efficiently protect your money from scammers since your coins are stored on a physical electronic device. Even if your hardware wallet has been stolen, you can simply restore your coins on a new device.

There is also an additional level of security in the form of a PIN code. One shouldn’t rule out the possibility of a random security bug that will create a gateway for crooks. Hackers could potentially get access to your wallet using RNG (Random Number Generator). However, you shouldn’t be excessively paranoid, since not a single case of theft has been reported at the time of writing this article.

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Safest way to hold your cryptocurrency

A paper wallet is the safest way of storing crypto, but make sure you do not tell anyone the private keys to your wallet. You also have to keep multiple copies of your keys: your Bitcoins will be lost forever if you happen to lose your paper wallet along with the keys. In order to check the current balance of your wallet, you can simply go to Blockchain.info and enter your address.

If you constantly make payments with BTC, you may want to create a semi-cold (software) wallet. Software wallets are called semi-cold because they can be still installed on computers that do not have access to the Internet (it is advisable to prevent a potential phishing attack). Electrum is one of the most popular software wallet for storing Bitcoin. It combines a user-friendly interface with a high level of functionality.

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About the author

George Shnurenko is a Bitcoin and cryptocurrency enthusiast, financial analyst and writer. He's majoring in history but he believes that the digital currency which has taken the world by storm will bring about change to all us humans. 

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Ripple's Partner Wants to Transform Gaming Industry with XRP

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    Forte reveals the benefits of using Ripple's XRP for creating digital economies

Ripple's Partner Wants to Transform Gaming Industry with XRP
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San Francisco-based company Forte, which formed a $100 mln fund in partnership with Ripple's investment arm Xpring back in March, keeps working on applying the blockchain technology in gaming.

Recently, Forte co-founder Brett Seyler explained the benefits of using XRP.  

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Blockchain-based gaming economies  

Forte is helmed by top-tier industry executives (including its founding CEO Kevin Chou) who are not focused on creating new powerful economies within the $140 bln gaming while making it more decentralized. 

There have been multiple attempts at creating a killer gaming dApp, but the technology is still way too cumbersome for the average Joe. Forte wants to address the adoption problem by making such games more approachable.       

“Creating game economies with multi-sided participation, open markets and increased transparency offer a potent solution to the challenge of the complexity plaguing game developers that result in stagnant economy design,” said Seyler.  

Blockchain is a perfect tool for creating peer-to-peer gaming economies since it could make in-game transactions easy, fast, and transparent.       

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The impact of XRP  

In order to make the magic happen, Forte utilizes the Interledger protocol (ILP) that was created by former Ripple CTO Stephan Thomas for establishing connections between multiple blockchains. 

On top of that, the startup also uses XRP for increasing the level of interoperability as well as security and liquidity.  

Since its inception, Xpring invested more than $500 mln in around 20 companies to streamline the adoption of XRP.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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