5 Best Bitcoin Wallets for iPhone in 2018

Bitcoin’s valuation continues to surge; Silicon Valley experts predict that this cryptocurrency would soon be the most valuable cyber asset. Bitcoins are stored in wallets, and if you are new to the world of cryptocurrencies, you’ve got to know that having one in your smartphone is a necessity. However, you need to be very careful as quite a few Bitcoin wallets are susceptible to hacking. In this article we won’t be talking about bitcoin hardware wallets for PC, but, which is more interesting, about the best bitcoin wallets for iPhone to look forward to in 2018.

1. Bread

Also known as Breadwallet (previously), this is unanimously the market leading mobile wallet preferred for iOS. It is a real standalone bitcoin client; in fact, the first iOS wallet to be so. It has no server that could be hacked or that could go down. Also, as it is directly connected to the Bitcoin network using SPV mode, it does not charge anything extra for transactions. This is an extremely lightweight app and thus sits easy on the phone. Continue reading “5 Best Bitcoin Wallets for iPhone in 2018”

What Is Ethereum and How to Make Money With Ethereum?

Ethereum has touched its highest point at the time of writing following the reveals of several new projects being developed on the Ethereum platform. You might have heard some people have made some good money due to the recent hike. However, before investing your hard earned money in Ethereum, one has to learn what exactly is Ethereum and how it works. If you are keen to know how to make money with Ethereum, read on and find out more.

Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice. The opinions expressed in this article are the personal opinions of the author at the time of publication. 

What Is Ethereum and How to Make Money With EthereumI started paying attention to this so-called Cryptocurrency 2.0 from last year and make a huge purchase of 550 Ethereum ($5,500) early this year in January at the price of $10. I will just leave it there and let you do the math on how much I have earned at the time of writing (I have been updating this post every two to three days and the price has spiked many times since this post was written).

There are several factors behind this price hike. One of the main reasons was Ethereum has been marketed to various potential corporate and government partners are a way of generating revenue through its integration of blockchain technology. Some highly publicized partnership are JPMorgan Chase, Cisco Systems, Inc, Bank of New York Mellon Corp, Microsoft, and other 30 big brands to create a partnership known as the Enterprise Ethereum Alliance (EEA).

What Is Ethereum and How to Make Money With Ethereum?

http://entethalliance.org/

Update (22 May 2017): Enterprise Ethereum Alliance has just grown in size after 86 firms including State Street, Toyota, Merck, ING, Broadridge, Deloitte, Samsung SDS, the National Bank of Canada, and Rabobank joined the collective that is seeking to use blockchain technology to run smart contracts at Fortune 500 companies.

Ethereum is an alternative to Bitcoin, which still dominates the cryptocurrency world. But while Bitcoin has become a haven for speculators trying to win big by trading coins, Ethereum’s promise is that its blockchain, the public ledger that records all transactions, is chiefly a platform for developing apps, powered by economic incentives.

Hence, if you are looking into another opportunity after Bitcoin to start your investment, Ethereum is probably the best choice for you. To me, it has an enormous potential and it should be the next big thing after Bitcoin.

What Is Ethereum and How to Make Money With Ethereum


What Is Ethereum?

Ethereum was initially proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher, and programmer. Vitalik Buterin is very well-respected and most people in the Ethereum community believe in his vision. Development was funded by an online crowd sale during July–August 2014 and the system went live on 30 July 2015.

Ether is a digital currency used for operating smart contracts on the Ethereum network. Like Bitcoin, the Ethereum network and Ether tokens are not controlled or issued by any bank or government – instead, it is an open network which is managed by its users.

If you are not familiar with the term Smart contracts, they are computer protocols that facilitate, verify, or enforce the negotiation or performance of a contract, or that make a contractual clause unnecessary. Smart contracts often emulate the logic of contractual clauses.

In a laymen term, smart contracts are Blockchain technology that will replace lawyers that will save you time and conflict where there is no need to pay intermediaries (middlemen). That is partly the reasons why banks and governments are turning to them as Blockchains are rated, undeniably faster, cheaper and more secure than traditional systems.

Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications.

Centralized systems are vulnerable because they have a single governing element, which can become a target of an attack. Ethereum’s vision is to decentralize the internet by creating a platform where applications can be built and run on a decentralized network. A decentralized system doesn’t have a single point of failure, and if any one element goes down, the rest of the network stays intact. Hence, Ethereum is also called a “world computer”.

Quite simply put, Ethereum is a worldwide distributed decentralized computer with a theoretically unlimited power.

Before Ethereum was developed, blockchain applications were designed to do a very limited set of operations. This meant that developers faced a problem. Either expand the set of functions offered by Bitcoin or any other type of application (which is difficult & time-consuming) or develop a new blockchain application and an entirely new platform as well.

Instead of having to build an entirely original blockchain for each new application, Ethereum enables the development of potentially thousands of different applications all on one platform.

What makes Ethereum standing out from all the other altcoins is that it is the very first available platform that is truly a world computer that is distributed across many machines (nodes) that will run applications in an unstoppable, uncensorable, trustless manner.  It takes the uncensorable nature of a cryptocurrency (e.g. Bitcoin) and extends that to almost any application that you can imagine.

That is the reason why many cryptocurrency experts think Ethereum will likely surpass Bitcoin as the most valuable blockchain.

What Is Ethereum and How to Make Money With Ethereum?

Ethereum has been deployed in different phases. Currently, the Ethereum project is in the 2nd phase, called “Homestead”.

The 4 planned phases for the growth of the Ethereum network are, in order: Frontier, Homestead, Metropolis, and Serenity. Ethereum Homestead clients are working smoothly after being in beta for several months without any major incidents.

Frontier

Frontier was the initial release of the Ethereum network pushed live in July 2015. It was a bare bone release planning to allow the more technically minded to release their own apps, allow people to mine, and get exchanges up and running.

Homestead

Homestead was planned to be released after a month of frontier going live as a best case scenario. As of January 2016, the Homestead release is about 80% complete – but the goals have been altered somewhat as frontier took in a large part of its projected development pipeline – for example, the block reward was set to the full 5 ether.

In its new form Homestead has become more of a patchwork of fixes to remove the risk warning attached to the Ethereum homepage.

Metropolis

Metropolis is the release that opens the gates to the masses. This is where there are fully fledged and tested user interfaces for the non-technical users. Although this is now being performed by individuals – for example, the Ethereum desktop wallet. Again it is unclear when this phase will take place and whether it depends on the pace of external community development.

Serenity

Serenity is the last phase and has one key principle – to switch the Ethereum network from proof of work to proof of stake – essentially reducing the power consumption of the Ethereum network. When this is going to take place and under what conditions is of course anyone’s guess – although it is thought to be in the planning for the start of 2018.

Even though the price of Ethereum has already appreciated significantly in 2017, there is still 10x, maybe even 100x long-term upside from current levels. Ethereum hasn’t come close to mainstream adoption yet, but there are hundreds, possibly thousands of applications in development.

Recent News: Ethereum Foundation Strikes Deal with Russian Development Bank

The most recent news in August 2017 was the Ethereum Foundation will work together with the VEB to support its new blockchain research center, providing specialist training for distributed ledger technology and the ethereum platform. The partnership hopes to help foster a community of ethereum experts within Russia and to assist the formation projects based on ethereum and other blockchain.

The union is intended to create a new Blockchain technology training program in order to move Russia forward in the Blockchain world. The program will produce educated and trained Blockchain experts for use and help in state-owned corporations as well as government bodies.

The impact on Ethereum is extremely positive in the short term. Additional partnerships, especially with government bodies, create much greater chain stability and confidence, as well as use. Prices should respond positively to this partnership.


Will Ether Price Drop off the Chart?

On 21 June 2017, someone sold $30 million worth of Ether and sent the price down to $0.10. The flash crash has caused many investors lost a few thousands of dollar within a second as the drip triggered a series of stop loss orders.

Should You Invest in Ethereum and Where to Buy Ethereum?

Can this happen again in the near future?

Possibly.

In my opinion, there are two reasons that can possibly cause a downfall of Ether price, a repeat of Mt. Gox‘s incident and the influx of Initial Coin Offerings (ICO).

#1 Major Exchange Outage

Almost every market crash is a result of panic selling due to the lacking of proper evaluation of the fundamental of a market condition.

Although the standards in cryptocurrency exchanges have considerably increased since the devastating bankruptcy of MT Gox which lost almost one billion dollars as valued at the time, there is still a possibility that the exchange is hacked like Bithumb. The hacking has caused monetary losses from compromised accounts have started to surface, and are quickly reaching into the billions of won.

#2 Initial Coin Offerings

Ethereum is way more than just a cryptocurrency as it is also a platform which offers decentralized services based on the blockchain. Its underlying currency is Ether. It’s also a project which helps start-up launch their decentralized services, raise funds through ICO.

At the time of writing, there are more than 20 offerings being carried out a month. You can check the ICOs and Crowdsales on Smith + Crown website. According to Smith + Crown, there have already been more than $150 million raised this year through ICO.

If you pay enough attention, there is a slight correlation between the ups and downs of the Eth price and the crowdfunding closing dates.

Although this may not be entirely right, there is still a big risk where the Ether raised by these ICO will be retained or dump on exchanges for fiat.

One prime example is Bancor Foundation that raised more than $150 million worth of Ether by offering their own token. Once the tokens were sold out, ETH was priced at $410, and drop to $310 a few hours later. Coincidently, Coinbase has crashed along with GDAX exchange and users are unable to sell or buy.

What Can Cause Ethereum Price Falls off the Charts

Could this really be a coincidence?

You can find more information on What Can Cause Ethereum Price Falls off the Charts?


How to Make Money With Ethereum?

#1 Buy and Sell

At the present stage of Ethereum, it could be just like Bitcoin when it was first introduced to the world in 2009. There was this story where this Norwegian man bought $27 of bitcoins in 2009 and forgot about them. He then discovered their value had since shot up to $980,000 at today’s price. Will Ethereum repeat the same history? No one knows what will happen 10 years down the road but it has a bigger potential growth as compared to Bitcoin.

There are several reasons you should consider buying Ethereum for long-term investments.

(+) The technology that underlies Ethereum means that it can be used for a number of other purposes that will be built off of a decentralized and autonomous system. Simply put, it potentially will be a revolutionary technology with the potential to impact a whole spectrum of industries.

(+) As the demand for the Ethereum platform and its smart contracts enabled network increases, the value of Ethereum as a cryptocurrency will continue to surge.

(+) Stability – Ethereum had an organic growth, without massive spikes, and it seems to be stable, if not even predictable. The increasing demand and value of a certain cryptocurrency serve as an indicator of its potential. Whatever the reason is, it still increases the demand – meaning a further increase in Ethereum price.

(+) The developers at Ethereum want one to think of the network as a large virtual computer that facilitates applications to run. It is indeed this allure that has been the reason that the project has got the backing from a number of individuals such as Bill Gates.

(+) Making waves in the established industry: Microsoft offers Ethereum as a blockchain-as-a-service, IBM’s in the game too, MIT teams are doing active research and even proposing their own alternatives (Lisk – Decentralized Application Platform)

(+) The second biggest market cap after Bitcoin only, and one of the most popular cryptocurrencies ever in terms of volume and buzz.

How and Where to Buy Ethereum?

Ethtrade Review - Is Ethtrade a Scam or Legitimate Read Before You Invest Ethereum

There are several numbers of platforms online that you can use to buy Ethereum. One of the most reliable platforms is Coinbase that you can buy and store it securely in the e-wallet. It available to users in over 30 countries such as the United States, United Kingdom, Canada, Singapore, and the following European countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland.

As of 2017, Coinbase is the world’s largest Bitcoin broker. You can buy Bitcoin and Ethereum with a connected bank account, SEPA transfer, Interac Online, and many more payment methods.

Below is a print screen of my Coinbase dashboard. It is ver user-friendly, easy for new users to buy and sell Bitcoin and Ethereum. Furthermore, you can make an instant buy with a credit card or debit card.

What Is Ethereum and How to Make Money With Ethereum

If you are wondering if it is a reliable platform, Coinbase is a Bitcoin company based in San Francisco and backed by trusted investors.

#Step 1: The first step is to sign up for a Coinbase account. This will give you a secure place to store your Ethereum, and easy payment methods to convert your local currency into or out of digital currencies.

NOTEAt the time of writing, when you sign up Coinbase account, buy and sell $100 of Bitcoin or more, you will be earning $10 of free Bitcoin.

#Step 2: Connect Your Bank Account, Credit Card or Debit Card. After you sign up, connect your bank account, credit card or debit card. You’ll need to complete some verification steps before you can use the account. Once the verification steps are complete, you can start a purchase.

What Is Ethereum and How to Make Money With Ethereum

#Step 3: Buy and Sell Ethereum. After starting your first purchase, Coinbase will complete your buy and deliver your Ethereum. (Sells work the same way but in reverse). The price of Ether changes over time, so Coinbase will show you the current exchange rate before you buy.

Should I Buy Ethereum Now?

“Buy Low, Sell High”.

Ethererum is currently priced high but it could be one fo the best time to invest when you look back a year later.

Ethereum is at an All Time High at the time of writing. I’ve been investing in Ethereum for less than a year and I’ve seen the price rise and fall many times. The price could still rise to a new high in the upcoming days and weeks, but history says otherwise.

#2 Ethereum Mining

Bitcoin mining started out with simple CPU and GPU mining that can be done on high-powered home computers before the introduction of ASIC miners overwhelmed the industry resulting in only specialized hardware being capable of any worthwhile mining. The Ethereum blockchain, however, is far more resistant to ASIC miners which result in most of the processing being done on rigs mounted with GPUs.

If you have a high-powered system for gaming then your computer is more than capable of mining Ether at a respectable rate. You can choose to mine Ethereum solo but you’ll probably get better results by contributing your resources to a pool. Personally, I have never mined any myself but I have a good read on Nanopool and they’re easy to use. Thanks to their great help page.

In my opinion, Ether could be at a high price but still not profitable to mine because your electricity costs are so high, or visa Versa. You also have to account for the difficulty increase associated with a price spike.

Furthermore, the Ethereum Founder’s view on the ETH mining community can be described as neutral to wary due to the example that Bitcoin mining community gave us. Today, more than 90% of all mining power for the Bitcoin blockchain exists in China, causing a lack of innovation and significant political strife. The Ethereum founders are aware of this and attempting to prevent this.

Hence, it may not be a good idea to make a huge investment in mining equipment as it can be tough for you to be profitable in a long run.


Additional Info

Other than Ethereum, you can also look into Bitcoin. If you really want to make some investment in cryptocurrencies, you should diversify your investment portfolio. If you have some budget to make an additional investment in Bitcoin, you could do that too.

Although Bitcoin has been the top-performing cryptocurrency in the world in the six of the past seven years, climbing from zero to a value of more than $2,000 (going to hit $3,000 soon), Bitcoin still has its enormous potential to grow.

The first investor in Snapchat thinks Bitcoin could realistically be worth more than $500,000 by 2030. I am not sure about you but even if Ethereum is going to surpass Bitcoin one day, it is will still be one of the most valuable cryptocurrencies that you should hold on to.

The rise in the price of Bitcoin is not going to stop anytime soon as one of the many reasons is the remittance transfers or electronic money transfer to foreign countries have almost doubled over the past 15 years! (At least, that’s how I transfer my money across the countries I go/work/travel).

Furthermore, it is predicted that Bitcoin’s 2030 supply will be about 20 million and that simply means average Bitcoin value held will increase to around $25k per Bitcoin holder based on the current market cap and more than 10 million user count.

Hence, hold on to your Bitcoin and keep it!

If you are new to the world of cryptocurrency, buy Bitcoin and Ethereum. You won’t regret it!

 

The Easiest Way to Buy Bitcoin Instantly Online for Investment

After all this while, Bitcoin has been one of the most amazing currencies to watch in the history of mankind. Bitcoin has outperformed the US dollar, gold, silver, and other fiat currencies. The presence of Bitcoin has also made a few millionaires along the way. It is never too late to buy Bitcoin if it is for long-term investment. If you are totally new to the world of Bitcoin, MYF is going to show you the easiest way to buy Bitcoin, almost instantly online.

The Easiest Way to Buy Bitcoin Instantly Online for Investment


The Easiest Way to Buy Bitcoin Instantly Online for Investment

There are many ways to buy Bitcoin such as via credit card, bank transfer, cash, and PayPal. Each of them has both their advantages and disadvantages.

The Easiest Way to Buy Bitcoin Instantly Online for Investment


#1 Speedy Transaction – Credit Card

The easiest and fastest way to buy Bitcoin instantly is with a credit card or debit card. For example, Coinbase supports credit or debit card purchases provided your card supports ‘3D Secure’. Some banks will require various security steps to authorize a purchase using 3D Secure. Some of the methods you may see will be a text message, a bank provided security code, or security questions.

Once you confirm a purchase with your card on Coinbase, you may be redirected to your bank’s website to verify the transfer. While Coinbase performs testing to ensure compatibility with major browsers, there may be situations where you are not correctly redirected to your bank’s website. If you are unable to confirm your purchase with your bank because of this, Coinbase will not be able to complete your order.

This is also why purchasing Bitcoin via credit card is one of the safest ways as exchanges like Coinbase requires verification from both the bank and you.

Further Reading: Coinbase Review

However, you should be aware that buying Bitcoin instantly with a debit or credit card will usually result in higher fees because there are higher transaction and processing fees. Therefore, if you are buying just a small amount of Bitcoin, using credit cards may be the best choice if you want it quick and easy.

The Easiest Way to Buy Bitcoin Instantly Online for Investment


#2 Big Transaction – Bank Transfer

For buying large amounts of Bitcoin, you should choose to buy with a bank transfer on a reputable exchange such as BitfinexPoloniexGDAXGEMINIKrakenEXMOYOBIT, and etc.

Fees are always lowest when you choose to transfer funds directly via SEPA (Europe), Wire (US), FAST (Asia).

In my experience, Kraken is one of my favorite Bitcoin exchanges as it offers the best service for a bank transfer (wire SEPA) deposits. For the time being this is the only deposit method available. Deposit currencies include

Deposit currencies include Euros, US dollars, and KRW (Korean Won). It is super cheap to deposit, withdraw, and trade on Kraken. Daily volumes are always high, and an excellent fee transparency guarantees low commissions and that you get the cheapest coins.

The Easiest Way to Buy Bitcoin Instantly Online for Investment

My second choice will still be Coinbase if you want to buy Bitcoin with a bank account in the US.

Coinbase allows you to connect your bank account via ACH bank transfer and can be connected with 26 different banks.

Once you supply your bank credentials on Coinbase’s website you can easily buy Bitcoins through your bank account. The fee for buying Bitcoins with your bank account is %1.49. The good thing about Coinbase is that the site has very high liquidity and won’t “run out of Bitcoins”. It’s also pretty intuitive for beginners.

I would like to emphasize here again that bank transfer is much slower than credit card purchases and it can take up to 5 days to finally see your money in the exchanges. If you’re inside the Eurozone, Coinbase will also allow you to buy Bitcoins with a SEPA transfer. Fees are basically the same as buying within the US.

It is noted that every Bitcoin exchange is obliged by law to do full KYC (know your customer). This is to prevent cybercrime and money laundering and some say the government worries that you might be gaining too much economic freedom.

Just realize that this is the new age where your ID is scattered all over the internet. For this reason, I would recommend choosing the safest sites only. If you really need to stay anonymous when buying, this is possible but the cost per bitcoin will be significantly higher.


#3 Reliable and Favorable Method – PayPal

Although buying Bitcoin via credit card is the easiest way, PayPal has also been very favorable of Bitcoin. If you are a big fan of PayPal, there are several platforms you can purchase your Bitcoin such as Virwox and AvaTrade.

VirWox is an exchange of virtual currency, you can buy there Lindens, Bitcoins, and more. It has more than 400,000 registered users and is a Second Life Lindens authorized reseller.

AvaTrade is a forex broker that is committed to providing a safe trading environment and is fully regulated and licensed in the EU and BVI, with additional regulation in Australia, South Africa, and Japan.

Between the two, I prefer AvaTrade over Virwox as it is more straightforward and it is easier for newbies to navigate around.

The Easiest Way to Buy Bitcoin Instantly Online for Investment

The minimum initial deposit requirement of AvaTrade is $100. In addition to the possibility of immediate deposits through PayPal, they accept wire transfers and also facilitates funding through credit cards, NeTeller, Moneybookers, and WebMoney.

The advantages of buying or trading Bitcoin with AvaTrade is that there are attractive promotion and bonuses offered that can reach up to $10,00 in some cases. On top of that, they offer comprehensive educational resources that even beginners can learn as they go along.

One good thing about AvaTrade is that you can try out their free demo account so you can practice before putting your money on the line. If you are an inexperienced trader, AvaTrade provides market analysis to assist you in Bitcoin trading too.

I also would like to highlight that AvaTrade offers zero commissions on Bitcoin trading and no bank fees charged on transactions, making it far more profitable.


Conclusion

Depending on your preference, there are several “easiest” way to buy Bitcoin online and most of them can be done almost instantly. If you are not familiar with any of them, the easiest to buy Bitcoin is of course by credit card. However, please bear in mind that it has the highest transaction fee involves.

Most people that are brand-new to Bitcoin find it much safer & more familiar to buy via a Bitcoin ATM (especially if they just want to try out Bitcoin), rather than pouring through Reddit threads to determine which site is safest to buy from. There has been a drastic rise in the number of Bitcoin ATMs all over the world. While the normal trading process (usually through online exchanges) takes up to few days to complete, Bitcoin ATMs do that instantly and in a matter of seconds. However, Bitcoin atm is not available in most countries.

As you become more familiar with Bitcoin, you may opt to set up an online trading account, which generally has lower fees such as AvaTrade. If you are confident in trading, you may as well use this platform to make extra profit from it.