Bitcoin Sent to the Wrong Address – What now?

First jump on the topic on what happens when bitcoin sent to the wrong address? You must understand what we mean by transferring a bitcoin to the wrong address. The following conditions are given below –

• What if we sent bitcoin to a dissimilar blockchain?

• Entering the wrong wallet address

• Type the wrong address for sending the bitcoin.

Before beginning the cases in deep you need to understand what is blockchain address? And where it is stored? The blockchain is near about 27-34 digit code consisting of numbers and letters. The address is generated by the wallets where you store your cryptocurrencies. Below each and every case are explained individually.

1. What if we sent bitcoin to a dissimilar blockchain?

As we all know it is impossible to send the bitcoin to the Litecoin address. Because each wallet has its own address and the code of the address starts from a different letter. The address code of the bitcoins starts from “1” and the address of the Litecoin starts from the “L”. If you want to send the bitcoin from the Litecoin wallet then the wallets will show that the address is invalid.

If you are using a multi-signature wallets address then this type of mistake can be done. If the blockchain accepts the address and you transfer the amount then it is very difficult to get back the money. 

2. Entering the wrong wallet address

Always remember the one thing never type the address instead of typing the address copy and paste the address is the best way. As we all know the address of the bitcoin is near about 32-bit and starts from 1. So it is impossible to make any mistakes. If you mistype any bit then your money will be sent to another person. And it is a very difficult situation for everyone.

3. Typing the wrong address for sending the bitcoins.

If you type the wrong address then you think your transaction is failed but it is not true the blockchain does not know the address you type is exist or not. It only knows the valid address. Technically the money is present in the system but no one has the public key of this wrong address to use this money.

As we all know the amount you sent to the wrong address is not refundable. So to avoid these types of mistakes enter the address carefully always copy and paste the address for making the transactions.

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How to Buy Altcoins

Altcoins are the digital cryptocurrency that launched after the success of bitcoins. It is similar to bitcoin. The word altcoin is made up of two words such as alt and coins. Alt stands for alternatives and coin stands for cryptocurrency. The altcoin is also known as an alternative to the bitcoin cryptocurrency. Basically the altcoins are made up of the bitcoin framework. Most of the altcoins provide peer to peer connections and also contain the mining process. By using the mining process users can easily solve unblock problems and enjoy the web transaction smoothly. 

For beginners, it is very complicated to buy altcoins. Here some steps are given below to buy the altcoin easily and safely.

1. Create the account

For buying the altcoin the first and main step is to create the account on the coinbase. For creating the account go the official website of coinbase and click on create a new account.

After clicking create a new account then another window is open. In this window fill all the personal information and click on the submit button.

Now your account is successfully created on coinbase.

After creating an account add the money in it by the bank account. Once you added the money then you can buy any type of cryptocurrencies from coinbase.

2. Transfer the coins

Once you purchase your altcoins on Coinbase, you will need to determine what your Altcoins exchange on. A quick Google search will usually satisfy, but ensure that the exchange is recognized and secure before choosing which medium to go through. There are different types of trading you can select but make sure that you are making the right choice.

3. Add the exchange account

For the exchange of the altcoins, it is very important to open the exchange account. There are different platforms available such as Binance, Voyager, and more in the market. You can choose any altcoin for your business. You can buy altcoins for a short time as well as for a long time. If you buy the altcoins for a long time then hold the altcoin for a minimum of one year and also store the hold altcoins in the cryptocurrency wallet. These wallets are safe and easy to use. 

These are the three easy steps for buying altcoins. After reading this article you can easily buy the altcoin. Follow each and every step carefully. Don’t miss out on any step, if you miss any step it will harm your transaction. If you have any query then ask in the comment section.

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Altcoin Day Trading

As we all know Altcoin is one of the most trending digital cryptocurrencies. It helps people to become millionaires. If you want to develop a successful business in altcoins, then you need to know more things about the altcoins. The 1st most important thing is to know the current condition of the crypto market and after that take any action.

Crypto trading works on the principle of purchasing and selling foreign exchange in the market. Fiat trading works under the supervision of the major players. But all the rules of fiat and crypto trading are not regulated by the cryptocurrency. It works direct user to user. It is not connected to the bank account.

The altcoin is an open-source and free platform. It is very difficult to make this currency number one and increase trading. This article guides you properly that how to make Altcoin day trading?

Before jumping to the Altcoin day trading topic, the main important thing you should know about is Altcoin. An altcoin is nothing but the digital cryptocurrency which is similar to the bitcoins. 

If you want to exchange the coin with other coins then you will get different exchanges such as Bittrex and Binance. For exchanging the coins or currencies there are different platforms available in the market and the fees of all the platforms are different from each other. 

There are two types of trading:

1. Short-term trading 

2. Long-term trading 

1. Short-term trading strategy

Short-term is the procedure of trading, in which dealers purchase the altcoins but only grip the altcoins for a few minutes, hours, and days. The people who hold the altcoins for few months also come in the short-term trading strategy.

Short-term trading is profitable if the price is increased in a short time. 

2. Long-term trading strategy

The long-term trading method is totally opposite to the short term trading method. It grips the altcoins for more than one year. There are people who bought the altcoin in 2017 at 10$ and sold it for $20000 in 2019. It is also beneficial for the people who want to invest in the long term trading strategy.

All the terms related to the trading are explained in the above article. I hope it will help you to choose the right strategy for altcoins trading. It will really help you to make a successful business. Still have doubts then email us or comment so that we can solve your queries.

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Where to Store Altcoins

Altcoins is one of the famous cryptocurrency. It is similar to the bitcoin and also works on the same principle. Altcoins is a renowned digital cryptocurrency in the world. The same fundamental structure is used in altcoin which is used in bitcoin. Altcoins is an open-source and free platform.

After purchasing the altcoins digital cryptocurrency the first question strike in the mind is where to store altcoins?? Then don’t worry, for storing the altcoins there are different types of wallets available in the market for different types of requirements. Mainly, the wallets are categorized into two parts such as HOT and COLD wallets. The hot wallets are connected to the internet for making the transaction and the cold wallets are not connected to the internet. In short, the hot wallets are the online wallets and the cold wallets are the offline wallets. In the online wallet, the private address can be stored in any system like mobile, desktop device, etc. and offline wallets can be stored as a private key in the coded device or physical form. 

Hardware wallet (Cold wallet)

The hardware wallet is the most secure and safe digital cryptocurrency storage wallet. The private key address is stored offline in the coded form.  The hardware wallet is a coded device. It is connected to the computer for sign in for achieving the blockchain access. It is a completely offline process and the private key is secure and safe in the coded device. 

Mobile Wallet (Hot wallet)  

Mobile wallets are available on the smartphone in the form of the app (application). Using a mobile wallet is very simple and convenient. It is used for quick purchases and transactions. It is a hot wallet because it stores the private key address online.

Desktop Wallet (Hot wallet)

The desktop wallets are an application that is installed on the personal computer. It is also known as software wallets. All private key address are stored in the hard drive of the computer. It is a hot wallet and without the internet, no transactions can occur. 

Paper Wallet (Cold wallet)

Currently, paper wallets are safe and secure to store the altcoins. It is an offline wallet. It comes in a cold wallet because there is no use of the internet for transactions. The private key address is stored offline.

Now you know where to store altcoins. I hope the above article solves all the problems for storing the altcoins. If you have any other queries then please mention the queries in the comment section.

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Litecoin vs. Ripple

Litecoin and Ripple both are trending and famous cryptocurrencies. The flow of digital currencies is most popular all over the world. Nowadays each and every person wants to buy digital currencies and carry the digital wallet. As we all know the first cryptocurrency was developed by the famous and most talented programmer of Japan. The name of the first cryptocurrency is Bitcoin. 

After the success of Bitcoin, other cryptocurrencies are developed for different purposes. The Ripple was developed in 2012 and the main purpose of developing this cryptocurrency is to provide the ease payment in the bank or financial bank and the big & huge corporation. 

Litecoin was developed in 2011 and the main aim of establishing this cryptocurrency is to make a peer-to-peer connection with everyday transactions. It is open-source software. 

Both cryptocurrencies are leading in the market. Both are similar to each other because of their security, easy and cheap cost. The different types of cryptocurrencies are available in the market. The competition between the cryptocurrencies is increasing day by day. Because of the competition, new technologies every day new features are updated in cryptocurrencies. 

Ripple is invented for making transactions secure. It is mainly used for making the cross-border transaction safe, simple and speedily. After growing the trends of Ripple in the market, it initiated attracting the big financial companies, banks, and more financial institutions. It is mainly used for a single function that is the cross-border transaction. 

The Litecoin is popular for the end-to-end transaction. There is no need for a third person or third party for doing the transaction. It is open-source software that is run on Scrypt Algorithm. It is used for daily transactions. The Litecoin is more advanced as compared to the Ripple. The Litecoin is used for more than one function that is a cross-border transaction and peer-to-peer daily transaction. 

According to Google research recently the Ripple is in 3rd position and Litecoin is in the 5th position. But it is quite difficult to find which cryptocurrency is better!!! Both are easy to use and available all over the world. All the information related to Ripple and Litecoin cryptocurrencies is available in the above article. You can choose any cryptocurrency as per your needs.

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How to choose an E-Currency exchange service which is reliable.

E-currency is digital money which means it is now easy for internet transactions to occur. The digital currencies provide payment options online that make the sending and receiving of instant exchanges of money possible from individual to individual or company all around the world. With the modern security steps, the online platforms have grown to be safer, but it can help to be cautious when handling or even selectingan E-currency service.

E-currencies will break edges, which makes it possible for individuals from various areas of the world to transact and these payments are instant with no long control delays unlike bank services. The currencies can be utilized for anything from expenses, charitable donations, E-commerceand to payrolls and peer-to-peerpayments. With apparently so many providers, you need to be careful with choosing the rightcurrency exchange service if you decide to benefit from the best experience while handling payment systems online.

Don’t be too quick to trust an e-currency exchange service. Understand that despite having the capability of online transactions, there have been so many frauds committed online that can’t be ignored. The very last thing you want is to end up with a fraud exchange site so invest some time to understand which companies you should trust and why. Try to find out whatever you can about the supplier to check out the reviews and that means you do not have to waste your money on the fraudulent services.

Always compare rates. This won’t mean settling for the rates which are shadily too low, nevertheless, you also do not need to finish up with something that offers high rates either. By using rate assessment sites you will be able to learn what rates are fairly good and accept them. Some sites that compare are helpful as they can summarize all necessary data on the most respected forex services and using such a site would make it easier so that you can choose the best service provider with the best rates.

Try to exchange huge amounts of money. It could seem dangerous if you are just beginningnevertheless, higher levels of money attract less commission rate which means you can make cost savings by the end of your day. You can investigate and look out for any discount offers depending on the amount transacted which means you can time your transactions to the precise time to help make the gains.

Look at the location of the company. It might not really matter, but sometimes the length between you and the company can have an enormous effect on the commissions which you finish up paying. Some providers offer standardized rates for these e-currencies.However, many may work with the type of currency that you will be thinking about exchanging so look for the rates and the commissions. Understand the exchange plan of your provider so that you are certain of what things to expect with each exchange. Evaluating between the best websites can also prove to be beneficial in cases like this too.

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Ever Wanted To Create A Bitcoin Fork For Yourself? If So, Your Wish Can be Turned Into Reality Using ForkGen!

‘Initial Fork Offerings’ also known as ‘ForkCoins’ is referred to as the alternative coin which is a cryptocurrency and they are reported to be described as ‘offsprings’ belonging to Bitcoin, the leading currency in the exchange market for virtual currencies. As a matter of fact, they happen to the most virally trending virtual currencies. They are just like any other virtual currency except for the fact that they are just another part of Bitcoin.

The trend which we are observing in the world of cryptocurrency has been reported to have been started at a period during last summer. This was mainly due to the introduction of Bitcoin Cash. This service from Bitcoin has been claimed to be a part of the top 3 cryptocurrencies according to the market cap which has been stated in websites like Coinmarketcap.  The most important fact is that websites like Coinbase, Bitstamp and Blockchain, who happen to be one of the biggest exchange markets for virtual currencies, are now offering Bitcoin Cash. In addition, Bitcoin launched another form of alternative coins which can also be deemed as another one of Bitcoin’s offspring. It is popularly known by the name Bitcoin Gold. With utmost success, Bitcoin Gold was successful in acquiring an honourable within the top 10 list of virtual currencies. After experiencing such ecstatic results from the previously mentioned alternative coins, it is quite predictable for Bitcoin to release even more forms of such alternative coins as it can help them to create even a larger base of consumers of their currency. It has been reported that Bitcoin has introduced numerous alternative coins which include examples, such as, United Bitcoin, Bitcoin Diamond and similar types of the currency.

It has been confirmed that within this week, general people will be able to bring their own Forkcoins with utmost comfort and ease which would require a minimum amount of effort and time. The creation of ForkGen has granted people the facility to fork another alternative coin from Bitcoin. They can do this by making some configurations on the basic parameters and properties. After completing the configuration process, they just have to simply fill them in on a website which happens to provide an interface which is easy for users to utilise. The geniuses behind this creation have not yet revealed their names but the original creator goes by the pseudonym, ‘One’ and the person who has served as his helping hand goes by the pseudonym, ‘Two,’ who happens to claim themselves as just another ‘intern for the social media department’ for Bitcoin.

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BLOCKCHAIN TECH & ITS IMPACT IN THE NEW WORLD

Banks, financial and tech companies are buying the use of blockchain technology in their business. Some of these companies include BTCJam, Stori, ProofofExistence, Microsoft corporation. In one year, BTCJam a P2P lending company has lent up to $15 million in Bitcoin to the public. Another company uses blockchain for executing contracts.

Some of the reason while most companies are adopting the use of Blockchain is because it reduces mistakes, expenses and enhances the streamlining of internal operations unlike our traditional method of handling businesses income.  In some banks Blockchain has removed the involvement of Humans beings in processing physical cash. Instead of the delay in payment processing in our banks and other businesses, Blockchain set-ups a smart contract that is triggered when certain conditions are met.

Blockchain activity in the financial world

In 2016, Bank of New York, Banco Santander, Deutsch Bank AG, and Mellon Corporation came together to create a certain kind of utility settlement coin(USC) which become a new decentralized resource used to buy securities and was recorded in the Blockchain industry.  Barclays Bank along with Canadian Imperial Bank of Commerce, HSBC Holdings PLC, Credit Suisse Group AG, MUFG and State street Corp also joined this four first major banks in 2017 and is looking forward to releasing a commercial wonder in 2018.

Even upon this major goal, security is still very important and remains a concern to central banks such as Bank of Canada, Bank of England, and Federal Reserve. However, Banks want to maintain a close system where they can control their currency and so are not interested in an open source technology for identity.

BLOCKCHAIN MARKET

Riot Blockchain

Riot blockchain is the least in the market of blockchain. Riot blockchain is new to the world of blockchain technology and has its Market cap at $86.12 Million and current shared price at $10.35.  Riot blockchain hopes to use Ethereum and Bitcoin to gain access and exposure into the blockchain market.

360 Blockchain

360 blockchain is the first in the market of Blockchain investment with Market cap at $30.69 million and current shared price at $0.27. This company is going to provide financial services to both public and private companies without excluding merchant banks, finance advisory, consulting and business services.

Other companies in the list of blockchain market include BTCS, BTL Group, Coinsilium Group, DigitalX. Global Blockchain Technologies, exeBlock Technology, HIVE Blockchain , Marathon Patent Group, and

MGT Capital,

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BITCOIN

Bitcoin is a form of digital currency created in a new and technical way and it is now a payment system worldwide. The founder of Bitcoin is an Australian man named Craig Wright although he identifies himself as – Satoshi Nakamoto.

Are Bitcoins printed? Absolutely not! These coins are not like the coins we use and see on a daily basis. These are not produced by any bank. These coins are “mined” –as in Bitcoins are produced using computer power systems by a wide spread network.

Also about, 21 million coins can be produced by users. But systems are still developing.

The network is person-to-person and transactions are maintained by themselves. Its price constantly rises and falls. Apart from the process of transactions and everything, Bitcoin has a lot of pros and cons to put into the account.

There’s a freedom in payment. With the help of Bitcoin, the account holders can send and receive money from anywhere at any time around the world. Also when it comes to controlling and security, there’s very little to worry about as Bitcoin allows users to take control of transactions by the individuals.

This system also helps the Bitcoin network to keep itself away from safety issues. And not to worry, Bitcoin also makes sure of back-up and encryptions to assure the safety of your money. Even though the personal information is hidden, however, the address can be seen and when transactions are finally complete, then it’s available for everyone to see. Hence, one’s details are quite transparent.

On the other hand, when it comes to disadvantages, things get way too much serious.

Not many people are aware of Bitcoin and cryptocurrency. When it comes to awareness, yes, users do need the knowledge and tricks to enhance themselves to be able to run the process and network better. Well-known companies accept Bitcoin as a source of payment. If users do not have the right knowledge then it becomes very risky for him and for the network, especially, because networking is the keyword and a must when it comes to Bitcoin.

Honestly, when it comes to volatility and risks, it’s seen that currencies changes every day and also volatility is expected to reduce over time.

Bitcoin has earned its name at the current time and growing amazingly and at a very fast rate. To summarize it all, Bitcoin is still developing. And as far as the advantages and disadvantages are concerned, it’s really up to us how we control it. So why lack the potential or take risks or worry? There’s really not much to worry about Bitcoin. The terms of policy and its features are great. And we all should really be a part of the Bitcoin network.

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ARE THERE COUNTRIES WHERE BITCOIN IS BANNED?

Digital currencies, generally called cryptocurrencies, have their advantages and have become widely popular worldwide. Countries like America have fully accepted the use of bitcoin while countries such as Australia and Canada are still on the deliberations as to what its applications should be. However, a few countries have reservations on the idea of a decentralized currency without a regulating body. This has led to bans in these countries. Here are a few of the countries that have banned bitcoin;

  1. CHINA

This ban is a misconception as the ban in china is mainly on banking institutions. The people’s bank of china and its affiliates are banned from engaging in trading of bitcoin but trading or mining of bitcoin is completely legal for citizens, as a matter of fact china is one of the biggest bitcoin trading market in the world.

  1. RUSSIA

This may be a national issue but the government frowns at the investment in other currencies for any reason, be it digital or physical currency.

  1. THAILAND

Bitcoin was banned in Thailand in 2013; this was because of the decentralization concept. It left no means of accountability and was seen as a risk.

  1. BANGLADESH

This is probably the strictest country when it comes to cryptocurrency trading. It is seen as a threat to financial security as it has no centralized system of regulation and it vaguely supports money laundering. There is also a capital punishment of about 12 year’s imprisonment for anyone found to deal in cryptocurrency.

  1. BOLIVIA

The belief surrounding a currency is that it has to be fully authorized by the government and it has to meet all the qualifications of transactions. It should also be controlled by the government. This is the belief of the Bolivia government that led to the ban of bitcoin and other cryptocurrencies inclusive.

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