Tag Archives: Ethereum

Best Ethereum Debit Cards You Should Use In 2021

Spending your Bitcoin or Ethereum is quite a novelty in the real world — few stores and websites accept digital currencies at the moment, and for good reason. Retailers are scared about exchange rates, find blockchain technology too difficult to understand, or think cryptocurrencies are highly volatile assets. Thankfully, new products are popping up to solve all these problems — crypto debit cards.

A crypto debit card lets you spend your digital assets at locations where debit cards are accepted. Every time you use the crypto card, money is deducted from your wallet balance and converted into the merchant’s currency.

Benefits of Crypto Debit Cards

Switch Between Currencies

Most crypto debit cards let you access both digital currencies and fiat currencies with ease. You don’t have to switch between cards to make payments in different local currencies. This is a great draw if you’re a globe-trotter who doesn’t want to exchange currency each time you need to pay for something.

Cut the Card Costs

Crypto debit cards eliminate some of the unpleasant fees associated with bank-issued debit cards. Most promise zero foreign exchange fees, zero transaction fees, and zero monthly maintenance fees. Other crypto cards will waive the monthly fee if you maintain a specific account balance.

Security

Most crypto debit cards incorporate advanced security measures to protect your digital assets and transactions. Most cards have 2-factor authentication, 256-bit encryption, and round-the-clock fraud monitoring. Temporarily freeze or unfreeze your debit card if you detect an unrecognized transaction.

Here are the best ethereum debit cards you should use in 2021.

Tenx Debit Card 

TenX is one of the most sought-after Ethereum Debit Card because it is versatile and offers users multiple benefits. It does not charge any transaction fees, which is one excellent attraction to many users. As a user, you will earn 0.01% in cashback, and this platform offers you a reward system.

Features

1.It is a highly demanded debit card with a high success rate in the cryptocurrency market.
2.The TENX ICO has been sold out in a quick manner.
3.Its application is being available widely in the crypto market so that the users can buy and use it.
4.An attractive and appreciative feature of tenx is that it does not charge any fees for making transactions.
5.For each and every purchase of tenx tokens, this platform offers cashback of around 0.01% to its cardholders (users). 

Token Debit Card

Compared to other debit cards, which are multi-level designed, Token cards operate off a blockchain technology, which moves without interruption for multiple currency management. Its app features are among its main strengths. It allows the user to switch between Fiat currencies and therefore is ideal for receiving international payments as well.

Features of Token card

1.It supports all kinds of tokens including the ERC 20 tokens.
2.It pools out a particular amount of cash upon every purchase made across this platform. This is usually referred to as ‘Cash and burn’ policy.

Wirex Debit Card

Wirex is a well-known and the trusted cryptocurrency debit card. Wirex card is available in Virtual and Physical form. These cards are powered by the Wirex crypto wallet that means each card is linked with the wallet. Currently, Wirex supporting more than 50 crypto coins including Ethereum. This card is accepted all over the world.

Features

1.Supporting more than 150 currencies and accepted at over 61 million locations.
2.Free fiat-to-fiat exchange and zero card or account fees. 
3.Wirex card lets you save money with free ATM withdrawals worldwide.

Bitwala Debit Card

The Bitwala Visa is a promising new Ethereum Debit Card powered by the Bitwala platform. It is based in Berlin and was launched in 2012. BitWala Visa boasts of over 15,000 regular users, spread across 120 countries. It offers fast international bank transfers, which makes it convenient to use for international traders and freelancers.

Features

1.You can easily trade your coins into euros and have funds ready in your wallet and on your card.
2.The Bitwala debit card also comes with a 3D secure feature.
3.A private code that provides an extra layer of security when making an online purchase.

Best Cryptocurrencies to Invest in 2021

Bitcoin (BTC)

Theories on Bitcoin’s utility differ, but there’s no denying that it’s been the dominant player in its field since its creation. Bitcoin’s growing adoption is its saving grace; both retail and institutional investors are primed to dip their toes into cryptocurrencies with Bitcoin first. Plus, some of today’s smartest business minds are increasingly gravitating toward the “digital gold.” Although Bitcoin’s price lost more than half within two months of hitting all-time highs of about $65,000. Bitcoin on its balance sheet earlier this year could serve to usher in more corporate treasury inflows over time.

Ethereum (ETH)

Next to Bitcoin, Ethereum is the second-largest cryptocurrency. It was launched in 2015 with just a supply of 72 million coins. Since last year, Ethereum has seen a 946.8% increase, and the new launches on its network are exciting market experts and experienced investors.

Tether (USDT)

Unlike some other forms of cryptocurrency, Tether is a stablecoin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.

Litecoin (LTC)

Litecoin is one of the most valuable cryptos in the industry, with a market cap of over $9.2 billion. It was created through a fork in the Bitcoin blockchain and is one of the oldest cryptos in the market. It has gained an incredible 215% in the past 12 months. However, it has stumbled quite a bit of late. In the past week, though, LTC has shown signs of a rebound, which indicates a reversal of its fortunes.

Similar to BTC, LTC is open-sourced and highly decentralized. Additionally, it is also quicker than BTC, as it takes only 2.5 minutes per transaction, rather than nine minutes. Its transactions are also at least 40% cheaper than Bitcoin.

Binance Coin (BNB)

Binance Coin is a utility cryptocurrency that operates as a payment method for the fees associated with trading on the Binance Exchange. Those who use the token as a means of payment for the exchange can trade at a discount. Binance Coin’s blockchain is also the platform that Binance’s decentralized exchange operates on. 

Binance Coin was initially an ERC-20 token that operated on the Ethereum blockchain. It eventually had its own main net launch. The network uses a proof-of-stake consensus model. As of January 2021, Binance has a $6.8 billion market capitalization with one BNB having a value of $44.26.

Dogecoin

For any cryptocurrency to survive over the long run, it needs to have a real-world purpose. Dogecoin, though, doesn’t have much of competitive advantage in the industry.

The vast majority of merchants do not currently accept Dogecoin as a form of payment, and there are several other cryptocurrencies with lower transaction fees than Dogecoin. The primary reason its price has exploded over the past several months is that it gained a large fan following. But once those investors inevitably move on to something new, Dogecoin’s price will plummet.

Cardano (ADA)

Because of its flexible network and fast transactions, Cardano is expected to remain one of the most popular cryptocurrencies. Scalability, interoperability, and sustainability are among its chief selling points. The recent update finally brought the ability to build smart contracts on Cardano’s network. Cardano has always been a venture that takes its time and accomplishes things gradually.

VeChain 

If you’re looking for a cheap digital coin to invest in, then VeChain may be the best answer for you. The VeChain currency is based on the VeChain Thor Blockchain. It’s a blockchain specifically designed for handling supply chain management and various business processes with the help of distributed ledgers. 

Crypto Mining VS Crypto Validating – Beginner’s Guide

Blockchain technology is a strong network designed to assure that digital currencies remain stable and serve their inception purpose. Learning about blockchain and cryptographic processes is quite interesting to technology fans and beginner investors.

Generally, cryptocurrencies are released in the blockchain through a process called mining. Although mining adds the blocks onto the chains, a preceding process called validation streamlines everything for mining. Let us understand everything about validation and mining.

What is Crypto Validation?

Crypto validation is where transactions and blocks in a blockchain are authenticated and verified. A block validator looks into the details of specific transactions in a blockchain, determines their authenticity, and merges it with others to form a block.

The validator gets a notification of upcoming transactions, works to verify and approve; among the issues that a validator checks include the legality and accuracy of each transaction. Checking for double-spending is also another vital issue that a validator focuses on.

What is Crypto Mining?

It’s the process where consensus algorithms are used in the blockchain to accept a particular validator’s block. Today, there are two types of consensus used, i.e., proof of work and proof of stake.

Proof of work (POW) requires parties called miners to solve some complex computations for their work to be added to the blockchain. The person who solves the computation first gets their block posted.

When it comes to proof of stake (POS), investors hold some amount of particular crypto assets during the validation process and get a share of the reward.

Difference Between Validation and Mining

ValidatingMining
Complexity The difficulty level in Validating is relatively lowThe difficulty level in mining is relatively high when compared to Validating
CostCosts in the validating part are lower than the mining sectionCost is high because the process of mining uses large amounts of power and high processor computers.
Transaction Crypto validation begins when users send transactions through the blockchainMining focuses on posting the block onto the distributed ledger.
RewardingValidators’ work only ends after the mining process ends. The income earned after the mining process comes in the form of coins released.A miner will only receive the rewards after the mining process ends and his block has been chosen and added to the chain.

Proof Of Work

As a beginner, you may be excited about joining the mining or validation process; therefore, you need to be ready to complete the whole validation plus mining process. It requires vast amounts of electricity and some super-performing computers for successful block release.

However, lately, some crypto projects have been introducing options that ease the mining process by providing cloud-based computing machines. Leveraging cloud mining platforms will help ensure that you earn better rewards at a way lower cost.

Proof Of Stake

If you leverage a platform that uses proof of stake mechanisms, just run your master node and stake some amount of crypto. The stakers will hold some amount of crypto assets against the validation process. In POS, the amount of rewards depends on the stake value and length of stake.

Bottom line

Crypto validation focuses more on the transaction introduced in the blockchain, while mining works on blocks of transactions, including adding them to the blockchain. However, although there are many differences, the processes are complementary to each other. The twosome processes are vital to secure the blockchain and release new coins. A crypto beginner interested in either mining or validating should be ready for the entire process.

What is Ethereum ? – Practical uses of Ethereum

Ethereum is a blockchain platform with its own cryptocurrency, called Ether (ETH) or Ethereum. It is open access to digital money and data-friendly services for everyone – no matter your background or location. It’s a community-built technology behind the cryptocurrency ether (ETH).

What’s an Ethereum wallet?

Ethereum wallets are applications that let you interact with your Ethereum account. Think of it as an internet banking app – without the bank. Your wallet lets you read your balance, send transactions, and connect to applications. You need a wallet to send funds and manage your ETH.

Your wallet is only a tool for managing your Ethereum account. That means you can swap wallet providers at any time. Many wallets also let you manage several Ethereum accounts from one application.

Types of wallet

  • Physical hardware wallets that let you keep your crypto offline – very secure.
  • Mobile applications that make your funds accessible from anywhere
  • Web wallets that let you interact with your account via a web browser
  • Desktop applications if you prefer to manage your funds via macOS, Windows, or Linux.

Practical uses

Ethereum allows you to move money, or make agreements, directly with someone else. You don’t need to go through intermediary companies.

Here are 5 practical uses of Ethereum:

1. It can be used in the healthcare system to securely store and share patient information.
2. Smart contracts can be used to make risk-free, direct transactions.
3. It can be used to improve the current election polling system by making it more transparent and secure.
4. It can be used as a decentralized data storage facility.
5. It can be used to build decentralized apps (DAPPS).

Interesting Facts

Here are 3 interesting facts about Ethereum:

1. Programmers of Ethereum created a custom programming language called ‘Solidity’.
2. Unlike other cryptocurrencies, Ethereum’s currency ‘Ether’ doesn’t have a maximum number of coins. This makes it an inflationary currency.
3. Ether mining was originally based on the Proof-of-Work mining principle, but developers have since planned to switch over to Proof-of-Stake in the future.

Criticisms 

Ethereum faces the same criticisms that all cryptocurrency platforms face:

  • Cryptocurrencies may or may not be a bubble about to burst (again). This debate has been going on since at least 2017, a year during which Bitcoin’s value seesawed between about $20,000 and about $3,000.
  • Each of these networks is eating up a vast amount of energy. Cryptocurrency miners, in particular, are devoting a huge amount of computing power to the process of validating transactions. 

Is Ethereum Better Than Bitcoin?

Unlike the Bitcoin blockchain, the Etherium blockchain was not created to support a cryptocurrency. The Ether cryptocurrency was created to provide an in-house currency for applications built on the Etherium blockchain.

In other words, Etherium has wider ambitions. It wants to be a platform for all kinds of applications that can store information safely.

Despite their differences, the two are the creators of virtual currencies that have become rivals in the investing world. And virtual currencies are just that: They are coins that have no physical existence but are represented by a string of code that can be exchanged at a price agreed upon by a buyer and a seller.

What Is Cryptocurrency and why it is so popular?

A cryptocurrency is a form of payment that can be exchanged online for goods and services. It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money that is carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database that describe specific transactions. Cryptocurrencies work using a technology called a blockchain. Blockchain is a decentralized technology spread across many computers that manage and records transactions. 

Cryptocurrency got its name because it uses encryption to verify transactions. This means advanced coding is involved in storing and transmitting cryptocurrency data between wallets and to public ledgers. Encryption aims to provide security and safety.

Is cryptocurrency real money?

Cryptocurrencies are an alternative to traditional money. Today, some outlets accept cryptocurrencies as a form of payment. However, they bear little resemblance to other asset classes because they are intangible and extremely volatile. They are mainly used by traders for speculating on rises and falls in value.

How many cryptocurrencies are there?

There are over 2000 cryptocurrencies available to buy and sell, though most have little value. Of these, bitcoin, ether (the token of the Ethereum network), ripple, bitcoin cash (an offshoot of bitcoin), and litecoin are among the most valuable by market capitalization.

Why it is so popular?

Cryptocurrencies appeal to their supporters for a variety of reasons. Here are some of the most popular:

1. Supporters see cryptocurrencies such as Bitcoin as the currency of the future and are racing to buy them now, presumably before they become more valuable.

2. Some supporters like the fact that cryptocurrency removes central banks from managing the money supply since over time these banks tend to reduce the value of money via inflation.

3. Other supporters like the technology behind cryptocurrencies, the blockchain, because it’s a decentralized processing and recording system and can be more secure than traditional payment systems.

4. Some speculators like cryptocurrencies because they’re going up in value and have no interest in the currencies’ long-term acceptance as a way to move money.

Regulation

The fact that the cryptocurrency market is not regulated has both – brighter side and a darker side. For those willing to invest massively without having to deal with any obstacle whatsoever, it is an advantage. Those unwilling to take risks need to extra cautious of not investing money that they aren’t willing to lose. A nicely laid out plan as to how should cryptocurrencies be classified and a clear regulation would make it easy to predict the future.

Uses 

1. Though cryptocurrencies can be used to make purchases, what is worth noting is that they are not yet widely accepted among retailers and other businesses.

2. Some look at cryptocurrencies from an investment point of view. People invest in them hoping that the future would see an increase in value. However, what needs to be understood here is that the demand cycle is just unpredictable. So, assuming that the future would give a higher return on investment might sound vague for many.

Future

With an exponential increase in the number of people becoming aware of cryptocurrencies, it is evident that the future would see huge investments in the same. That said, it is always better to have a fair idea pertaining to the volatility and risk factors of cryptocurrency before investing. 

Ultimately, the future of cryptocurrencies — their value, security, and staying power — is still up in the air. But the experts spoke to believe owning some crypto could create value over time. Whatever your interest or motivation, experts stress the importance of making sure you understand the unique volatility and risk factors of cryptocurrency before investing.