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October 2014

Coinbase Announces Support for EOS

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EOS

EOS

Coinbase has announced that from today, EOS will be supported by its custodial wallet. Coinbase users can now buy, sell, receive, convert, and store crypto on the platform as well as exchange it against fiat currencies that are supported. EOS is currently among the top cryptocurrencies, and it is ranked fifth largest in terms of circulation.

EOS Now Available on Coinbase Wallet

Coinbase tweeted that it is launching EOS on its website as well as in the Android and iOS Coinbase apps, so users will need to update their apps for them to be able to buy, send, sell, receive, convert, and store EOS. The American exchange consumer platform has indicated that more updates will be available once EOS is fully live.

According to Coinbase, EOS will be available in most jurisdictions where the exchange operates, except for the state of New York and the United Kingdom with the former having reportedly been strict towards crypto assets of all kinds. The firm has indicated that additional jurisdictions are likely to be added soon.

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Coinbase Follows Customer Requests

According to the exchange, its customers have been requesting the company increase its offering and give customers more options for buying and selling various cryptocurrencies. It appears that the exchange that was initially against cryptos not linked to Bitcoin is finally agreeing to its customers’ needs, especially now that its profits are expected to decline in FY2019.

Until the start of the fourth quarter of 2018, the exchange had a strict listing policy, having added only five cryptocurrencies since its inception. However, Coinbase reviewed its Digital Assets Framework to enable it to expand on the number of crypto assets offered.

The support of Coinbase for EOS comes just before the June 1 announcement by Block.one, which is the company behind the EOS protocol.

Featured image: DepositPhotos © ilolab

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Facebook’s Libra | Coinbase’s Ex-Policy Head Will Lead Lobbying

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Libra

Libra

In July, tech giant Facebook (NASDAQ:FB) announced that it was going to launch its own cryptocurrency named Libra, and since then, it has lurched from one problem to the next. Policymakers from all across the world, including the head of the US Federal Reserve and US President Donald Trump, expressed their skepticism about Libra soon after.

Hence, it is quite clear that Facebook is currently at a loss as to how to tackle the myriad of policy issues that are going to arise with the launch of Libra. However, it seems that the company has decided to tackle the issue by hiring the services of a lobbying outfit that has deep ties with the world of cryptocurrencies.

The firm in question is FS Vector, which is based out of Washington DC, and the person who is going to work as Facebook’s lobbyist is none other than John Collins, who used to be the head the policy division at crypto exchange Coinbase. Collins is also one of the partners at the lobbying firm. It goes without saying that, policy-wise, Libra has been a bit of a train wreck so far, and last month, Facebook announced that it might not even go ahead with the launch.

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Libra in Focus

Cryptocurrencies are not always in such a regulatory spotlight, but considering the fact that Libra is being launched by a tech giant like Facebook, there was bound to be regulatory scrutiny. In addition to that, some other regulators have asked Facebook about the extent of personal information it is going to require from those who actually buy the token. For instance, it emerged earlier this month that Facebook had not actually replied to a questionnaire sent by a regulatory body in Switzerland. It is going to be a delicate task for Facebook to navigate the regulatory maze, but with Collins, the company has managed to hire someone who is well aware of the environment at least.

Featured image: DepositPhotos © nazarenko

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How to Protect Your Bitcoin Wallet

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Bitcoin wallet

Bitcoin wallet

Bitcoin is a hot commodity lately. This cryptocurrency is usually at the top of experts’ and users’ lists of recommendations for investments in the digital world. If you’re thinking about using Bitcoin or have already started your crypto journey, there are steps you can take to secure your currency. Here’s how to protect your Bitcoin wallet.

1. Use a Hardware Wallet

There are a few types of cryptocurrency wallets. Hard wallets connect to the internet for you to access at any time. This constant internet connectivity comes with certain cyber risks, though. If you want more protection, use a hardware wallet.

Hardware wallets are “cold,” meaning they do not connect to the internet, but you can still receive funds at any time. The disconnect makes it harder for cybercriminals to hack or breach your Bitcoin. Trezor and Ledger offer various hardware wallets that store your currency in an external, USB-like device.

2. Keep Your Private Key Offline

When you use a hardware wallet, it doesn’t actually store all your cryptocurrency. Instead, it stores a private key. This private key corresponds to a public key that includes certain amounts of Bitcoins, giving you the correct balance.

You must keep this private key secure. You can keep it offline by writing it down on a piece of paper and storing it in an emergency disaster kit that only you have access to. The more secure and offline it is, the less you have to worry about it.

3. Encrypt Your Wallet

Encrypting your wallet is a helpful step to take. You can start simple with two-factor authentication and go from there. Any form of encryption will help. Two-factor authentication helps with verifying your identity in two ways so that cybercriminals have a harder time breaching your wallet. You can also include encryption software if you want extra protection for your Bitcoin.

4. Keep Your Currency in Multiple Places

Don’t put all your eggs in one basket. The phrase rings true for cryptocurrency. If you have all your digital currency in one wallet, you have a higher chance of losing more. If you place your funds in different wallets, though, you have a better chance of protecting your assets. When saving, especially, you’ll want to keep your Bitcoin safe however you can.

5. Enact Smaller Transactions

If you’re a big Bitcoin spender, you might want to step back. High-value transactions and trades can draw attention from cybercriminals. If they see that you have assets to spend, they may be more likely to target your funds. Of course, you should spend your cryptocurrency however you’d like. Just keep in mind that you’ll need more protection.

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6. Use a Secure Internet Connection

Using the right internet connection is an easy way to protect your Bitcoin wallet. Of course, your home internet connection is likely a safe option since it’s secure and isolated. However, you should keep in mind that public internet connections can be risky.

Public Wi-Fi isn’t always secure, and since many people use it, cybercriminals may have an easier time accessing your wallet. When on public Wi-Fi, it’s best to not have an active wallet. If you do make transactions, strongly consider using a reputable, logless, paid VPN service.

7. Keep Your Finances a Secret

Be cautious about who you share your Bitcoin status and private key with. You’ll likely only want to keep those numbers to yourself unless you have a partner you’re willing to share them with. Otherwise, the fewer people who know, the better. Think of cryptocurrency as a real bank account. You don’t want people knowing your PIN number or account status—and your private key is the same.

8. Use Antivirus Software

Viruses are a digital plague in their own way. Cybercriminals use them to steal information and finances from vulnerable accounts. Antivirus software can help, though. Since cyberattacks are frequent and often come in the form of viruses and malware, you’ll want protection. With the most up-to-date features, antivirus software can do just that.

9. Watch Out for Phishing

Like viruses and malware, phishing is another form of cyber scamming. Certain criminals use emails and links to scam users into giving up private information about their wallets. Sometimes, phishing scams can link to viruses and malware, too. Watch out for suspicious content—it’s better to be safe than sorry.

10. Double-Check the Recipient

As you carry out your transactions, make sure you’re sending your Bitcoin to the right person. Scammers may try to skew transactions or trick you into giving your money elsewhere. You can get software or programs to help detect errors, as well. Be sure to vet your transactions and partners thoroughly before any money changes “hands.” Sometimes, it can be hard to recover your Bitcoin currency.

11. Back Up Your Wallet

Last but certainly not least, you’ll want to back up your wallet. A backup never hurts and always comes in handy if you need it. There are different ways to back up your wallet, so choose the one that works best for you. Then, you have what you need to fully protect your Bitcoin wallet if something goes wrong.

A Safe Crypto World

As cryptocurrency grows in popularity, you can expect some changes to come about. Keep an eye on the security trends and follow the best practices as they emerge. Staying ahead of the curve will bring you the best Bitcoin protection to stay safe in the cyber world.

This article was curated through CryptoCurrencyNews’ Contributor Program. If you would like to write for us, send us your submission!

Featured image: DepositPhotos © 3DSculptor

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Bitcoin Price Surges to a New 2019 High

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bitcoin price

bitcoin price

The crypto market has been surging this week and Bitcoin price continues to pull up, breaking through resistance to establish a new 2019 high. Its market capitalization is increasing, reaching around $180 billion.

Bitcoin Breaks Resistance

According to TradingView, Bitcoin surprised many in the past week after breaking resistance and surging to $5,640. In the last trading session, Bitcoin price gained 4%, surging from $5,480 to $5,640. A crypto asset trader who is known as “Crypto Rand” has indicated that Bitcoin is likely to increase to $6,000 based on the recent performance in April.  In April, crypto traders were optimistic about the price of Bitcoin following its rally in the first week of the month when it surged 20% against the dollar.

Most traders were skeptical about the momentum of the crypto market and if it could be sustained in the short term considering that both Bitcoin price and other cryptocurrencies in the markets had large gains at the start of the month.

Other Cryptos Follow

Although Bitcoin price is headed for new 2019 highs, Ethereum has, on the other hand, experienced a slower momentum, gaining minimally below $175. But with BTC climbing, ETH’s momentum is also likely to grow, and Ethereum will benefit from the current healthy momentum that Bitcoin is enjoying.

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Altcoins are also enjoying the green as Bitcoin leads the way to new highs. Currently, Cardano is the top gaining crypto in the altcoins section, and it gained 9% on the day closing at $0.080. Elsewhere there is no significant movement except for Bitcoin Cash, which moved to $300.

There is movement of the top twenty as Tezos has climbed 8% to $1.43, while Bitcoin SV and NEO both moved 4%. Much of the rest of crypto is making marginal gains. The gains are likely to continue provided Bitcoin price maintains above $5,500.

A huge fomo-driven pump has taken DGD up 28%. Binance has taken 70% of the $30 million daily volume as the gold-based token surges to $35.

Featured image: Pixabay

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