Category: Coin News

Popular NFTs
crypto nfts

CryptoPunks: A Quick Overview of the Most Popular NFTs

NFTs have gained rapid momentum and recognition in 2021. And it’s no wonder when experts say that NFTs will be all the rage in 2022 and the future. Although NFTs have been around for the past few years, they came into the limelight recently. And one of the NFT projects that caught the attention of investors is CryptoPunks. But what is CryptoPunks? Who created them? And where can you buy them? In this blog, we will answer all these questions in a quick, brief, and comprehensible way. So, let’s get started! CryptoPunks: What Are They? You can call CryptoPunks the pioneer of the crypto art world. These tiny 8- bit style pixelated punks are collectible pieces of crypto art. There are 10,000 punks with unique features and characteristics. These punks are represented on the Ethereum blockchain. CryptoPunks is one of the first NFT projects and is now the most popular NFT in the market. Some of the punks are worth millions of dollars. So, if you have a crypto punk, you can sell it for millions and probably make a living out of it. CryptoPunks: Who Created Them? Larva Labs, a New York based company created CryptoPunks. The company started working on this project in 2017. The main reason behind creating CryptoPunks was to experiment with the very nascent NFT market at the time. However, the project was able to give rise to crypto art as we know it today. NFTs are a type of cryptocurrency making CryptoPunks cryptocurrency too. But they are different from your regular crypto coins. Amongst the 10,000 CryptoPunks, we have a mix of male and female punks along with aliens, apes, and zombies. Each punk is highly unique with different attributes. Initially, when the company started offering CryptoPunks, they did it for free. All you need to do was pay the transaction fees for the Ethereum blockchain. However, over the years the popularity has increased and now each punk is worth thousands. Hence, if you already own a punk, you can now sell it for millions and make all your dreams come true. Currently, CryptoPunk #3100 and #7804 are the two most popular and highest selling crypto punks with $7.58 million and $7.57 million respectively. CryptoPunks are just after the most expensive NFT, Beeple’s EVERYDAYS: THE FIRST 5000 DAYS. CryptoPunks: Where Can I Buy? You can buy CryptoPunks on the exclusive platform created by Larva Labs. They have a special marketplace on the CryptoPunks website. You buy, bid, or sell punks on this marketplace. OpenSea, a leading Ethereum NFT marketplace, also offers CryptoPunks. However, they are a little different. These punks have been wrapped in ERC-721 tokens. This makes it easy to sell on the NFT marketplace. You can easily wrap and unwrap a CryptoPunk using Wrapped PUNKS. Final Takeaway Although CryptoPunks now have a tough competition with other types of NFTs, they are the pioneers of the NFT world and crypto art as we know them today. They are still highly popular, expensive, and hold the potential to turn the NFT marketplace. So, if you get your hands on one such punk, make sure to buy it. For more cryptocurrency insights, keep reading Coin Informer!

Read More »
diversify Crypto portfolio
crypto diversification strategy

Six Tips to Diversify Your Cryptocurrency Investment Portfolio

Have you decided to invest in cryptocurrency? If so, you might be looking to buy your first bitcoin or ether or any other crypto coin. Now, investing in cryptocurrency is certainly exciting because the market has shown higher returns and profits. However, the cryptocurrency market is also prone to massive price fluctuations and volatility. If you don’t plan your investments carefully, you might experience a major loss. And you certainly don’t want that! So, what is the best way to ensure that you invest carefully, make profits, and can bear any losses? The Answer Is Simple. Portfolio Diversification! Just like any investment portfolio, you will have a cryptocurrency portfolio that will tell what crypto coins you have, how much you have invested, where you have invested, and any other such investment details. Now, to avoid any losses, you might think of investing in just one type of cryptocurrency. However, this increases your risk of losses because you have invested all your funds in just one cryptocurrency. Any decrease in the price of that cryptocurrency means you bear a huge loss in just a moment. But if you have a diversified portfolio, you will have your money invested in multiple cryptocurrencies. So, even if there is a huge price drop in one crypto coin, you will have other crypto coins to save you from major losses. The more you distribute your money in different cryptocurrencies, the more stable investment you will have. Now, How Do You Diversify Your Crypto Investment Portfolio? Here Are a Few Quick Tips. High-risk investment definitely promises you major gains, but they also result in major losses. Hence, you must diversify your portfolio to include low, medium, and high-risk investments equally. This will balance your investment portfolio and give you more stability. Liquidity is crucial for your investment portfolio. So, in the cryptocurrency market, you can invest in some stablecoins to get liquidity. Several decentralized finance (DeFi) platforms use stablecoins, hence they are crucial to ensure quick exit or gain. The Crypto market keeps evolving rapidly. And so should your investment portfolio. Based on the current situation in the crypto market, you must relocate your investment portfolio. Avoid greed! Yes, make sure to always keep this advice in your mind and implement it when you feel the need. There will be times when you will make major gains from one cryptocurrency that will tempt you to pump in more money in the same coin. But don’t fall for greed, instead, make an informed decision. Always conduct your own research. This is a classic piece of advice that will always help you make better investment decisions. This is your money, so you must be the one who makes the decision. Don’t just consider the advice of others. Always invest your disposable income. So, even if you experience a loss, it won’t affect your day-to-day finances. Final Takeaway Cryptocurrency investment is certainly exciting due to its massive potential. But just like any other investment you need to be careful. Diversify your investment portfolio to ensure that you don’t face massive losses. Follow the tips to ensure that you have a balanced portfolio for better investments. To read more, keep following Coin Informer!

Read More »
NFT non fungible token
crypto nfts

Top Five Questions Answered Regarding Developing Your Own NFTs

Have you been highly active in the crypto market? If so, you might have heard about NFTs. Even if you aren’t active in the crypto market, you might have come across this term on social media. There is so much hype around NFTs. Creatives such as celebrities, artists, and others are aiming to release their NFTs and make a lot of money. Trust us when we say that NFTs can get you a good price if there is a high demand for your NFT. For example, Beeple, one of the popular visual artists, sold their NFT for $69 million. There are several other digital artists who are developing NFTs and selling them to earn a huge sum of money. Do you also want to develop your NFT? If so, you might have a lot of questions. In this blog post, we will try to answer a few of those questions to help you develop your own NFT. So, let’s get started. What Do You Need To Create An NFT? Crypto wallet to store crypto Artwork, song, or collectible Crypto minting fee Pick a blockchain What Can Be Considered For An NFT? Several people who want to create an NFT are confused about what can be considered to create an NFT. Is it only digital artwork? Does it also include real-world artwork? Well, currently, digital artworks are a major choice for NFT such as songs, collectibles, videos, gifs, and more. However, there have been instances where physical artwork has been used to create and mint an NFT. For example, the art gallery Christie’s sold a physical artwork inspired NFT. Hence, NFTs can be created for both digital artworks along with the physical artwork too. Which Digital Wallets Should You Use for NFT? The answer is simple. It depends on the blockchain you are using. Now, Ethereum is one of the most popular blockchains used to create NFT. So, you must choose a digital wallet that supports the Ethereum blockchain. Although most digital wallets will support Ethereum blockchain, you must check it out before developing your NFT. Currently, Trust Wallet and MetaMask are two popular digital wallets that support a wide variety of blockchains. Which Blockchain Should Be Used to Create NFT? Nowadays, there are different blockchains to choose from to create NFT. However, Ethereum still remains to be the most popular blockchain to develop NFT. It was also the first blockchain that introduced us to NFT as we know it today. But the minting and handling fees of NFT on Ethereum makes it an expensive choice. If you want a cheaper yet robust alternative, you can choose Binance Smart Chain, Tron, Polkadot, or Tezos. They also offer faster transaction speed making them a good choice for developing NFT. What Platform Should Be Used To Mint NFTs? This will depend on the blockchain you use. If you have gone to cheaper alternatives such as Binance Smart Chain, you can use platforms like Treasureland or BakerySwap to mint your NFTs. However, if you have chosen Ethereum blockchain, you can choose from Rarible or OpenSea platforms. You need to remember that the most important thing is to choose a platform that has a familiar marketplace making it easier to mint NFTs. Final Takeaway NFTs are becoming highly popular and are a great source of income if you have the talent to create exquisite artwork. And knowing the minute things about developing and minting your NFT can be highly beneficial to make the most of this opportunity. For more information on NFTs, crypto market, and insights, keep reading Coin Informer!

Read More »
trade responsibly in crypto market
crypto market

Top Tips to Trade Responsibly in Crypto Market

Cryptocurrency trading is risky due to high volatility and fluctuations. Hence, investors and traders must trade responsibly. Especially if you are a beginner, where you are learning the ropes of the cryptocurrency market, trading responsibly is crucial. You can use different trading strategies, however, implementing them with caution is important. At Coin Informer, we want beginner and advanced investors to trade responsibly. Hence, our expert team has provided a few top tips to trade in the cryptocurrency market responsibly so that you can make a profit. Robust Security For Trading Wallet and Account For trading in the cryptocurrency market, you will use a trading account and crypto wallet. You might also use an external crypto wallet. Securing these assets is crucial for responsible trading. You might lose out on money if your passwords, private key, account information are compromised. Hence, make sure to use robust security methods for the same. You can use two-factor verification, withdrawal address whitelisting, strong passwords, avoiding sharing your private key, and more such methods. Securing this information is just like you securing your bank details. Build a Trading Plan Sometimes our emotions can get the best out of us! And the same is true for crypto trading. Sudden gain, losses, or fluctuations can bring emotions of fear, uncertainty, and doubts. In this case, having a trading plan and sticking to it is beneficial. You need to determine your trading objectives such as How much leverage trading do you want to do? What will be your entry or exit prices? Which crypto coins do you want to invest in? How much do you want to diversify your portfolio? And more. Portfolio Diversification One of the best ways for responsible trading in the crypto market is diversifying your portfolio. If you hold only one or two assets, the risk of loss is higher. Hence, you must invest in different assets. For example, you can start with allocating assets. You can allocate assets in investment such as stablecoins, Defi liquidity pools, altcoins, and more. This diversification will help you reduce exposure to one single asset class and subsequent losses. Using different diversification methods, you can trade responsibly. Don’t fall for FOMO When you are trading in crypto, you will find a lot of chatter on different social media channels, rumors, gossip, and more. This might generate the feeling of FOMO (Fear of missing out) prompting you to make bad trading decisions. Hence, you mustn’t fall for FOMO! Instead, when you feel that you are falling to FOMO, start doing your research regarding the possible rumor or gossip. If you find it to be true, you can determine whether you should make that trading decision or not. Final Takeaway Surely, you can find some other ways to ensure that you trade responsibly, these are some of our top tips. Following these tips is certainly a start for responsible trading. Keep reading Coin Informer for more insights into trading efficiently in the crypto market.

Read More »
crypto market sentiments
crypto market

Crypto Market Sentiments: A Brief Overview!

If you are aware of the crypto market, you might know that it is highly volatile and is prone to massive fluctuations. And these fluctuations are caused by several factors which include the press, public opinion, and social media. This can also be termed as a collective attitude of investors and traders towards the crypto market. An analysis of this collective attitude is known as market sentiment. Let’s take a look at crypto market sentiment, its importance, and how to conduct a market sentiment. Crypto Market Sentiment: What is it? As mentioned above, a collective sentiment of investors and traders towards a market asset is considered as market sentiment. And just like the stock market, the concept of market sentiment also exists in the crypto market. Market sentiment is known to drive the market either in the positive direction or negative. A small tweet from a renowned personality such as Elon Musk can turn the overall market sentiment in favor or against it. For example, Dogecoin was really hyped during the bull period, and it was because of social media. Several people were talking about Dogecoin and how it will be the best crypto coin in the future. Remember the tweet from Elon Musk saying that Dogecoin is people’s crypto? This tweet alone boosted the market sentiment in favor of Dogecoin. Crypto Market Sentiment: Why is it important? Market sentiment analysis is important to make an informed decision. Sentiment analysis is as important as fundamental or technical analysis of the market. This helps you make an informed decision and helps you invest better. Here’s how crypto market sentiment analysis can help: Identify profitable trends in the market Determine the short term and mid-term price action for different coins Differentiate between actual FOMO trends and herd mentality Take control of your emotional state during trading Crypto Market Sentiment Analysis: How to perform? To perform market sentiment analysis, you need to gather a lot of information using sophisticated tools. However, if you don’t know how to operate these sophisticated tools, don’t worry, you can always look at social trends. This is what you can do: Social mentions tracking using data collection tools. You will find several data collection tools online. You can read blogs, news, and media articles on top websites such as CoinDesk, Binance Academy, and on our website at Coin Informer. Crypto investors also track major transactions made by crypto whales. These transactions have been observed to make a major impact on market sentiment. Twitter and Telegram offer a few free whale bots to track these whales. Use Google Trends to track the hype around the market. For example, if you find that a large volume of searches is made on how to buy crypto, you know the overall sentiment is positive. Bottom Line Crypto market sentiments are crucial to determine the price trends and profitable opportunities. Hence, if you want to make a lucrative investment in the crypto market, you must keep a tab on market sentiments. To keep reading more about the crypto market, follow us on Coin Informer!

Read More »
leverage trading crypto
Cryptocurrency Market

Advantages of Leverage Trading in Crypto Market

Over the years, the cryptocurrency market has gained massive momentum. More and more investors whether beginner or pro want to buy crypto coins by investing their disposable income in the hope to make more profits. And they certainly do, only if they use the right trading strategy. One of the trading strategies that most crypto trading software offers and is best suited for investors is leverage trading. In this type of trading, investors can borrow funds to make spot crypto transactions. This is a great way to increase your purchasing power. For example, platforms like Binance Margin allows crypto investors to borrow funds so that they can make spot transactions for a profitable gain. However, you must know that you need to return the borrowed funds in due time. Leverage trading has several benefits which makes it the best trading strategy. Let’s find out. Trading Convenience: Leverage trading offers you trading convenience. Using this strategy allows you to enter positions of the same size without depositing extra funds. This is especially important if you time the market and want to invest in the right trading opportunity. Increase Your Profits: Most investors want to invest in crypto because they intend to make huge profits. You can surely make profits using existing funds, however, with leverage trading, you can increase your profits manifold. You can get access to bigger funds that you can invest to get bigger gains. However, this is possible only when you have successful trades which will, in turn, maximize returns. Diversify Portfolio: If you want to diversify your portfolio, you must invest in different positions without affecting your position size. This is possible with leverage trading. You get access to large funds that you can invest in multiple positions. You can invest smaller amounts in each position to earn profits and cumulatively earn higher profits. This also helps you reduce the risk of losses. This brings us to the major disadvantage of using leverage trading which is high risk. When you invest a larger sum of capital, there is a higher chance of big losses. Since your initial investment has increased, this also increases your market exposure. This, in turn, results in portfolio damage if you encounter huge losses. Bottom Line Leverage trading is certainly a great strategy to increase your profits in the crypto market. Although there is a high risk of losses, the positives outweigh the negatives making it a good strategy to implement. For more such information and insights on the crypto market, keep reading Coin Informer!

Read More »
cryptocurrency and credit cards
bitcoin atm

Cryptocurrency and Credit Cards: How Does Their Intersection Look Like?

Cryptocurrency and Credit Cards: First introduced in 2009, cryptocurrency, especially bitcoin, has gained recognition in the past few years. Rising Bitcoin prices and the introduction of new crypto coins have increased the chances of cryptocurrency going mainstream. What indicates that cryptocurrency will soon go mainstream? It is the current intersection with credit cards. Yes, that’s right! Credit cards and cryptocurrency are interacting with each other in the market in different ways. And this will make cryptocurrency more accessible to the common man with high chances to use crypto coins to buy things and commodities. Let’s see a brief overview of how credit cards and bitcoin intersect. Establishment of Bitcoin ATMs The establishment of bitcoin ATMs is the beginning of using a credit card to utilize bitcoin in the mainstream market. There are already more than 30,000 bitcoin ATMs around the world. However, unlike your regular ATMs, bitcoin ATMs are used to buy bitcoin. These ATMs don’t dispense cash. Also, there is a limitation to how much bitcoin cryptocurrency you can buy using these ATMs. These ATMs also charge you a fee and hence don’t offer the right prices. Use Credit Card to Buy Bitcoin You can buy bitcoin using different ways. And using a credit card to buy bitcoin is certainly the easiest and one of the best ways. However, you can’t buy all types of cryptocurrencies using a credit card and not all crypto exchanges support credit cards. And what’s more! Well, another hiccup with using a credit card is that most crypto exchanges will charge you a heavy fee when you use a credit card. This makes it more expensive. Moreover, credit cards will consider crypto equivalent to cash currency. Hence when you buy crypto using a credit card, you will incur charges just as you use it for buying things using cash. Do Credit Cards and Bitcoin Intersect For The Benefit? Until now, it might seem that credit cards and bitcoin might not go together. However, there is a possibility of a successful intersection with the introduction of credit cards that offer bitcoin rewards. The latest addition to this development is the introduction of BlockFi’s credit card that offers bitcoin rewards. Moreover, the BlockFi exclusive Visa Bitcoin Rewards Credit Card is now open to the public to use. With BlockFi’s credit card you can get 1.5% bitcoin rewards. However, with this, the user is also prone to the volatility of the cryptocurrency market. Despite that, there are high chances of more such bitcoin rewards credit cards being released for the users. Bottom Line Cryptocurrency and credit cards have a long road to go before it becomes economic for the public to use a credit card to buy cryptocurrency. One more step forward would be to use cryptocurrency to buy commodities using a credit card. How does this intersection benefits the users remains to be seen! Currently, if you want to keep reading about cryptocurrency and further developments in this market, keep reading Coin Informer!

Read More »
Crypto Tourism
Crypto Tourism

Crypto Tourism: A Brief Overview!

Crypto Tourism: Just before the 2020 pandemic shut down tourism, there was a type of tourism that was gaining popularity. And that is Cryptocurrency Tourism! Yes, crypto tourism is very much a real thing and as soon as all the international travel restrictions are lifted, it will see a massive boom. We already know that the crypto market is the talk of the town, thanks to major global players like Elon Musk tweeting on the same. And with the high popularity of the crypto market, crypto-currency tourism will also increase. So, what is crypto currency tourism? Who is the target audience for crypto-currency tourism? Is crypto tourism beneficial or just a waste of time? We will find the answers to all these questions in the following blog post. Keep reading. Crypto Tourism: What is it? Crypto-currency Tourism can be defined in two ways: Any tour or travel package that can be paid for using cryptocurrency is known as crypto-currency tourism. Or any tour or travel package, where the travelers are offered classes or lectures regarding cryptocurrency is also known as cryptocurrency tourism. Crypto tourism gained massive traction during 2018-2019 just before the pandemic shut down everything. One of the examples of cryptocurrency tourism comes from Coinsbank, a leading Scotland-based crypto wallet. They organized Blockchain cruises which had their most recent cruise in 2019 in Europe. The cruise lasted for 5 days sailing over the Mediterranean. 2,500 people/crypto enthusiasts attended the cruise tour. There were some tours offered by crypto companies in New Zealand where people paid using cryptocurrency. One of the famous tours in the region was exploring the Great Barrier Reef paid using cryptocurrency. Crypto Tourism: Who is The Target Audience? Mostly, the crypto tours are aimed at rich and famous crypto enthusiasts. However, several tours cater to regular people who want to explore and pay for it using digital currency. Each tour is specifically designed to ensure that the visitors get the most out of it including plenty of sightseeing. For example, the Coinsbank cruises mentioned above offered the usual sightseeing along with conferences, and exhibitions related to cryptocurrency. Major crypto figures attended the cruise tour. Crypto Tours are also used for other purposes such as the promotion of an initial coin offering (ICO). This is to increase the initial investment and build trust amongst investors. Crypto Tourism: Advantages and Disadvantages Advantages: If you are interested in learning about cryptocurrency, crypto tours will be beneficial for you. And if you want to use digital money to pay for your tours, even then crypto tours are beneficial. This also gives you a chance where you can meet other crypto enthusiasts and crypto experts. Crypto tours are a great way to enhance your crypto game. Disadvantages: One of the major disadvantages is that the crypto market is highly unregulated. Also, certain crypto tours are said to be used only for initial coin offering promotions. Also, crypto currency tourism targets a very small group of tourists and hence doesn’t have a big market share in the travel industry. Bottom Line Prior to the 2020 pandemic, crypto tours started a new trend of traveling especially for crypto enthusiasts. This trend will surely keep growing as soon as the pandemic restrictions are lifted internationally. If you are also interested in one such tour, keep a lookout. For more information on the crypto market, news, guides, keep reading Coin Informer!

Read More »
Institutional Investment in Crypto Market
Best Coin To Invest In Crypto

Will Major Institutional Players Invest in Crypto Market?

Invest in Crypto Market: If there is one factor that has always pushed investors away from investing in the crypto market, it is the volatility of the market. With constant fluctuations, price changes, and tech upgrades, investors have been reluctant to invest in the crypto market. However, after the major price crash in 2018, the crypto market has seen relevant stabilization until recently. Apart from volatility and price booms, another factor that has influenced the credibility of the crypto market is the lack of institutional investment. Although currently there is some interest from institutional players, the overall sentiment is hesitant. And the major reason is, yet again, the volatility of the crypto market. This is especially true for financial companies that commit to their customers for a legit return for their investment. Hence, these companies can’t risk the investment of millions with a high possibility of losing those millions in a snap. But is there any indication for this situation to change? Does it seem that major institutional players will invest in the crypto market? The answer is YES! Yes, volatility and lack of regulation have deterred institutional players from investing. But the following changes in the overall operations have sparked interest and changed the tide. Price Trends: Currently, Bitcoin and other major cryptocurrencies have seen a major increase in their price without many fluctuations. Data suggests that these prices are to stabilize over time. This has created a calming effect on the crypto market allowing institutional players to invest. Self-Regulation: The lack of regulation of the crypto market was a major reason why institutional players stayed away from it. However, efforts being made by independent institutions and governments have started providing clarity and consistency to the institutional players for the crypto market. Improved Logistics: Another reason that made institutional players skeptical about the crypto market was the storage of cryptocurrency. Previously, this included the usage of third-party resources that didn’t guarantee the safety of assets. However, currently, several companies are working at bringing improved custody solutions for cryptocurrency, for example, Consortium Komainu. Increased Liquidity: The lack of liquidity in the crypto market was another reason institutional players hesitated to invest. However, organizations that are actively involved in stabilizing the crypto market have come up with solutions that offer higher liquidity to the asset class. This has spiked the interest of institutional players to invest. Bottom Line The Crypto market will be fully stabilized only when institutional players invest money. This will happen when major problematic issues of the market are resolved. Currently, major changes have been made in the direction to attract institutional players and there have been some positive results. To know more about this and more crypto, keep reading Coin Informer!

Read More »
Cryptocurrency Myths
Cryptocurrency

Four Major Cryptocurrency Myths Busted!

Since the introduction of bitcoin in 2009, cryptocurrency has seen a massive rise in popularity and gained value. However, there are several myths related to cryptocurrency and its value. These myths stop several people from investing in this market. In this blog post, let’s look at some myths and myth-busting evidence that can help you decide better for your investment portfolio. Myth: Scam, scam, scam! Truth: Several investors think that cryptocurrency is a scam. But let us tell you that today, several businesses accept cryptocurrency as a valid payment method. You can read our previous blogs on the same. Moreover, several countries are making an effort to establish regulations for the cryptocurrency market to ensure that you aren’t robbed of your money. Yes, we know that there have been previous instances where people have been scammed to take away their cryptocurrency and money. However, most outlets or exchanges are completely legal. To ensure that you don’t fall victim to any scams, try to learn about the market and gain knowledge. This will certainly help you in the long run. Myth: No value Truth: Several people still think that cryptocurrency has no value. However, such is not the case! Currently, the value of bitcoin stands at $69,000 per bitcoin in 2021. That’s a lot of value in terms of dollars. Also, cryptocurrency’s value can’t be determined only in dollars. The blockchain technology used to develop cryptocurrency has massive real-time applications in the present and future. For example, the Ethereum blockchain has applications in the financial industry such as decentralized finance, non-fungible tokens, and more. Myth: Cryptocurrency Is Used to Fund Illegal Activities Truth: This is one of the oldest and most prevalent myths of cryptocurrency. Several people believe that cryptocurrency is used to fund illegal activities. Now, there is some truth in it, but don’t you think this can be said about fiat currencies too. Before cryptocurrency came into the picture, illegal activities were funded using fiat currencies. However, the use of cryptocurrency to fund illicit activities has come to 0.34% of all transactions in 2020 according to research conducted by Chainalysis. Moreover, governments have created regulatory bodies and organizations to keep an eye on illegal crypto transactions. For example, in the US, illicit use of cryptocurrency is investigated by the National Cryptocurrency Enforcement Team (NCET). Myth: Cryptocurrency Isn’t Secure Truth: This is one of the biggest myths that need immediate myth-busting evidence. If you also thought that cryptocurrency isn’t secure, you are in for a surprise! The blockchain technology used to develop cryptocurrency and to conduct transactions is one of the most secure networks. Each transaction is stored on a block in the blockchain that is encrypted. Any new transactions keep adding on new blocks and are being verified by automated verifiers. It is highly impossible to steal any information from the blockchain. However, the major risk of stealing lies in the software and platforms used to make these transactions. This includes digital wallets and cryptocurrency exchanges. These platforms have a risk of getting hacked. To overcome this issue, you can store your crypto keys in the cloud and transact only smaller amounts at a time. Final Takeaway These are the top four prevalent myths about cryptocurrency around the world. Do you know of any more such myths? Share them with us and we will get down to myth-busting right away. For more such insightful blogs, keep reading Coin Informer!

Read More »