We know it is not easy to navigate in the world of cryptocurrenccies if you are a newbie. This is why the CryptoTicker Team has created this Starter Kit to help you dive in the crypto-sphere. We aim to grant you with the knowledge to help you discover the crypto ecosystem at your own speed.
Cold wallets – Secure your crypto
These kinds of wallets are completely offline and most of the time used for the longterm storage of cryptocurrencies. Usually the private key came never in contact with the internet, so they are said to be the safest storage-methods. In their original form, they aren’t well suited for daily transactions because of the inconvenient usage. There are various models and treatises of cold storages, e. g. the hardware- or paper wallet.
Hardware wallets – Easy access to your Cold Wallet
Hardware wallets are completely offline and used for storing cryptocurrencies. They are a subtype of Cold wallets. However, they provide a much more convient way to access your crypto. The most trusted wallets are the Trezor and the Ledger Nano S. Those devices can be as tiny as a USB stick and can store your private keys offline.
As the name indicates, this wallet mainly consists out of paper. Considered with a certain abstraction, a paper wallet is a data records, providing all the needed information’s to offer a random number of private keys to cryptocurrencies and generate a wallet for the them. In general, many people use the term “paper wallet” to describe every system for the storage of key to cryptocurrencies that is separated as an existent data record.
Hot Wallets are usually 24/7 online, depending on the used type. There are different kinds of hot wallets, e. g. smartphone & computer software-wallets, online-wallets like myetherwallet or the wallets provided by exchanges for their customers, to store their cryptocurrencies. Hot wallets aren’t well suited for the storage of high amounts of cryptocurrencies, because of their permanent connection to the internet, what makes them more attractive for hacker groups. Another risk, when using hot wallets, is that not every provider of hot wallets offers the user access to the private keys to his assets. You’ll never know if a hot wallet provider decides to execute an exit scam, gets hacked or in trouble with the authorities.
The Trezor connects to pc and mobile device via USB. It supports more than 9 cryptocurrencies. Trezor’s settlement with Myetherwallet makes it easy to move ERC-20 tokens over to cold storage. It allows two-factor verification and an access to restore private key if users lose it.
Nowadays, there are plenty of cryptocurrency exchanges out there. However, we have compiled the list of the most secure and trusted exchanges.
In terms of trade volume and new coins, the cryptocurrency exchange Binance is one of the best
and safest exchanges for new people. The major element that distinguishes Binance from other
exchange is their client support. Not only that, they regularly add new coins into their exchange.
The company also launched it’s own blockchain known as Binance Chain. You can
reach Binance through desktop, web and mobile app.
Changelly is a popular cryptocurrency exchange providing the ability to instantly and seamlessly exchange over 100 altcoins at the best market rate or buy them using a bank card.
This cryptocurrency exchange is one of the most powerful exchanges. In addition to their website, KuCoin also offers a mobile app (Android and iOS). This exchange is regularly updating their mobile app and adds new assets to their platform.
Bitfinex is a crypto-exchange founded in Hongkong in 2012 by a holding company named iFinex, which Tether Ltd. also belongs to. The crypto-exchange offers his customers to trade over 400 cryptocurrencies. Supported FIAT-currencies are EUR, USD, GBP, and JPY. For average trading, the fees are quite moderate. Besides that Bitfinex offers a lot of features like margin trading and funding, an individual interface and various types of orders.
Kraken is the finest European cryptocurrency exchange established in 2011. Kraken allows users to buy and sell bitcoins and trade them against Euros, US Dollars, Canadian Dollars, British Pounds and Japanese Yen. Kraken has numerous excellent features like margin trading and much more.
The platform has earned its reputation for fault-tolerance, flawless uptime and high availability. Its core matching engine is among the best technological products in it’s class, offering traders a wide range of features such as real-time clearing and cutting-edge order matching algorithms.
BitMEX is a cryptocurrency exchange and derivative trading platform. It is owned and operated by HDR Global Trading Limited, which is headquartered in Hong Kong and registered in Seychelles. The platform offers up to 100x leverage, what makes it attractive for gamblers and pro-traders,
If trading is not your thing and you are more interested in mining, then this section is for you.
There are many methods to get cryptocurrenccies. Mining and trading are two of the more familiar ways. Both have their benefits and depending on your experience and knowledge, one might be more beneficial than the other.
Crypto mining comprises two methods known as appending transactions to the blockchain and also delivering new currency. Private blocks attached by miners should include a proof-of-work, or PoW. Effective mining requires a specific computer and program, which assists miners to find a fitting hash to the current blockchain state. The process requires enormous computing power . It is possible to set it up yourself, but you need to invest a lot to get going first. An easier access to crypto mining is provided by Genesis mining.
Genesis Mining is a company, which provides a service called cloud mining. The company allows its clients to rent a predefined hashing power from their servers stationed in Iceland to mine cryptocurrencies. The Genesis cloud mining company was founded in 2013. Miners can mine any cryptocurrency available in the company’s index. You don’t need to worry about purchasing and maintaining the mining equipment yourself. You buy a certain amount of hash power for a timeframe and start earning crypto currency right away.