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The best defense of cryptocurrencies

INDEX

  1. My first contacts with cryptocurrencies
  2. The greatest virtue of cryptocurrencies
  3. Cryptocurrencies are the best private money
  4. Conclusion

1. My first contacts with cryptocurrencies

Sometimes I find it hard to believe that it has been so long since I first heard about cryptocurrencies. My initial contact was somewhat brief: in the middle of 2011 (during my first fever with the “pay per click” platforms). The offer to earn bitcoins by watching advertising led me to read a little about this new virtual currency and to check its price in the market. If my memory serves me right, at that time 1 BTC was equal to 11 US dollars. Interestingly, I dismissed it. It was not what I was looking for, or rather, I did not know what was in front of me.

Two years later the coin would come to my attention again. Max Keyser spoke highly of Bitcoin on his TV show, which I watched every week; I started reading news related to cryptocurrency. By that date, its price had reached $ 1,000 and I had the feeling that I had lost the opportunity of my life. However, that did not discourage me, it motivated me to investigate further. I wondered if I could still get on that train; I wanted an answer.

From that moment I did not lose interest. My readings increased as time went on, and eventually, I stopped caring how much its price dropped in the short term or when it would start to rise. Because the more I learned about the benefits of the protocol proposed by Satoshi Nakamoto, the more I became convinced that, no matter what happened in its early stage, it would change the world.

2. The greatest virtue of cryptocurrencies

It is clear that what drove my initial fever was an immense curiosity and the search for better opportunities; A currency that could be freely exchanged for dollars was very attractive in my country of origin (Venezuela) where exchange control made it difficult to obtain them in the legal market. Later I was also invaded by a fascination for what was behind; free and accessible money for all.

Despite what its detractors may say, I am not afraid to affirm that cryptocurrencies are much more than electronic money or computer networks. They are an ideal brought to reality, the answer to pre-existing needs. But, above all, they are a disruptive means to achieve inclusive well-being and promote necessary changes in the global economic system.

Although many technical factors add up to make cryptocurrencies what they are, I am not wrong in stating that their main pillar is their censorship-resistant internet protocols (what some call “decentralization”). That is, the ability to provide security without the need to rely on central decision-making authority.

3. Cryptocurrencies are the best private money

The fact that no government can impose its monetary policy on decentralized cryptocurrencies, in addition to the difficulties they have in imposing restrictions on their use, gives them a great insurmountable advantage to this type of asset and makes them far superior to any other. form of electronic money that can be issued by a public or private institution. If we propose a private money system, but without the characteristic resistance to censorship that cryptocurrencies offer us, we could not expect the same results.

As many will know, the distrust of cryptocurrency enthusiasts in institutions such as the State and corporations is very well-founded, since if these are in charge of its management, it would be in their hands the possibility of resorting to the modification or definitive deletion of the most precious characteristics that a monetary system can have, being able to appeal for the manipulation of the markets, the “stimulus” of the economies and the expansive issuance to finance its expenses; something that ultimately would bring excessive inflation and introduce into the crypto world boom and bust economic cycles similar to those suffered by most economies worldwide.

But that is not the reality in the case of cryptocurrencies. These remain what they are because no one can unilaterally impose the modifications they want unilaterally on a whim. And although a cartel of institutions could co-opt any of them, its open-source protocols would make the survival of a decentralized variant viable through a fork of its blockchain (another cryptocurrency with the same characteristics).

4. Conclusion

The best defense that decentralized cryptocurrencies have had during all these years is that they are “creatures of the market” that are not tied to the value of other assets, whose conservation depends on their participants (users, miners, and investors), who have as their main interest to protect yourself from undesirable changes.

So it is, and so it will continue to be. In the future, many more will join together seeking shelter under what we already consider our umbrella in the coming torrential rain, and boy is it necessary for them to understand the importance of decentralization.

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Precautions to trade in P2P cryptocurrency markets more securely

INDEX

  1. Look at the reputation
  2. Always trade with a guaranteed deposit
  3. Check payments
  4. Choose your payment method wisely

Person-to-person (p2p) markets, such as Ccoins, offer you the possibility of contacting other people to buy and sell cryptocurrencies with a guarantee deposit (escrow), which makes it easier for you to set your trading conditions and operate with a large variety of payment methods. However, trading on these platforms requires adhering to several good practices to further minimize the risk of scams. Here are a series of precautions to operate in P2P cryptocurrency markets more securely.

1. Look at the reputation

When you want to start a business transaction with someone, look at their user score statistics on their profile. There you can find the ratio of positive and negative scores that you have received from people with whom you have traded. Now, if on the platform you operate on, there are comments from your trading peers available, read them; Through them, you will be able to find out the final result of their operations, as well as the impression they have left. You should analyze what negative comments reflect, to make sure there are no signs of dishonest behavior. In short, look for the reputation elements of the platform on which you are operating and estimate that information.

2. Always trade with a guaranteed deposit

The guarantee deposit (escrow) is a security mechanism that consists of putting the cryptocurrencies in safekeeping during the exchange operation; The protection provided by this system is that neither the buyer nor the seller can dispose of them for themselves until the seller releases them in favor of the seller after verifying the payment.

Some P2P marketplaces like Localcryptos require the seller to put funds into the escrow manually; When you trade on platforms like these, as a buyer, you should pay attention to the exchange interface to make sure that the cryptocurrencies have been put into the escrow before making the payment. In the case of Ccoins, you will not have to worry about it, because the funds are automatically protected when starting the exchange operation.

You should also avoid making operations through social networks or private messaging chats, that is, you should not sell cryptocurrencies through Facebook, WhatsApp, or Telegram, since in these apps you are not protected, and you are vulnerable to fraud attempts. If someone in a P2P market tries to persuade you to operate without this protection system, you should distrust him.

3. Verify all the payments involve 

Once the funds are in the escrow, if you are the buyer you will need to make the payment and provide proof. As a seller, once you receive the proof of payment, you must log into your account and verify that it has indeed been credited to you. Do not be fooled with false receipts or let yourself be pressured until there is a real disbursement you should not proceed. It is also important to keep in mind that if you perceive a suspicious situation you should immediately initiate a commercial dispute. Some situations that you should be alert to are:

Your bank account has been blocked and you cannot verify the veracity of the payment.

The payment has not been made according to the agreed conditions.

The voucher does not correspond to what is reflected in your account.

4. Choose your payment method wisely

Accepting some payment methods carry higher risks compared to others. As a seller, you should exercise extra caution when agreeing to exchange your cryptocurrencies for PayPal balance, due to the frequency with which scammers use their internal dispute system to reverse payments. Another complicated payment method can be the “gift cards” since in many cases it is difficult to verify the veracity of a payment made with them. If you’re just getting started, we recommend using less hassle payment methods like bank transfer and cash deposit.

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4 tips to choose a crypto wallet to suits you

INDEX

1.Determine your priorities, what do you need from your crypto wallet?2.Listen to the opinions of the community
3. Make sure you choose a crypto wallet with multi-currency support
4.A good crypto wallet has regular updates

If you are entering the crypto world, you probably need a personal crypto wallet. That is an application that allows you to manage your crypto assets safely. As you may have noticed, in the ecosystem of cryptocurrencies and tokens, you will find a lot of options to choose from. For this reason, we have prepared this list of tips to choose a custom crypto wallet that will be useful to you.

1. Determine your priorities. What do you need from your crypto wallet?

The first thing to be clear about are your priorities as a user, what is best for you? a simple interface, or have advanced functions. Although you can find both aspects in the same crypto wallet, making this distinction can be useful to segment the candidates that best suit your needs.

The advantage of making your first transactions in a wallet with a simpler interface is that with it you will be able to better understand the most basic concepts of receiving, sending, and storing crypto assets, you will have a faster learning curve. If, on the other hand, what you need is a more robust crypto wallet, you should investigate options that focus on the aspect you want to strengthen, for example; privacy, anonymity, and obfuscation.

The more specialized a portfolio is, the more likely it is to include unusual options and standards.

2. Listen to the opinions of the community

While the multitude of portfolio options can seem overwhelming, hearing the views of those who use these types of assets can be very revealing.

Asking questions about the impression that a certain application has left among those who have used it, as well as looking for reviews made by enthusiasts and specialized cryptocurrency media, can be a very good idea.

Similarly, making a list of the most popular wallets among cryptocurrency user communities can yield a very good selection of applications to try.

3. Try to choose a crypto wallet with multi-currency support

As a general rule, the wallets that offer advanced options for the use of a certain cryptocurrency are those that specialize in a few of them, while those that support a wide list tend to focus on providing a simple user experience and limited configurations.

For a person who is just starting in the crypto world and trying to understand how crypto works, using a wallet with multi-currency support can be an advantageous option since it will allow you to use several cryptocurrencies and tokens without having to download several wallet applications.

4. A good crypto wallet has regular updates

A portfolio that does not provide regular updates with feature enhancements, additions, and bug fixes is not a good choice. The more reliable and active a portfolio development team is, the higher the chances that your crypto assets will be better protected. If when evaluating applications to manage your crypto assets you find one whose last update is more than 6 months old, we recommend you discard it.

To help you with your decision, we share with you the 3 best crypto wallets to start using cryptocurrencies without complications.