It's so nice to see posts like this where people earning $15 an hour saved up money and bought using dollar cost averaging methods to eventually own 1 BTC today. It's never too late to start! We just only advice: keep your BTC in your own wallet!;) |
|
|
|
|
Cryptocurrency recovery phrases are meant to be only on paper. What's a good, secure strategy for someone who often loses things?
Probably storage in a safe, which is what a lot of people do when keeping their phrase on paper — and also to separate it in two safes or locations or people. Would never recommend paper for a long term one though, something more permanent like etched metal is what is getting popular these days.
Would even commit it to memory if it’s only 12 words. What would you guys do?
|
|
|
|
I did not know I can do it offline on Bitamp. Your wallet is awesome by giving people way to create their wallets with Bitamp without any connection to Internet.
Some good things from Bitamp wallet on my eyes:
- Can create it with Tor browser
- Can create it offline
- 3 types of address
- 2 options to create wallet with seeds or private keys.
I try your wallet today and I have my suggestion for you.
- When I open wallet creation page, seed or private key will be displayed by default settings.
- I suggest the Bitamp team to hide it and have a Show button for user. They can click on the button to show seed or key when they are ready.
- Sometimes, people are not ready in public places and it is risky when seed or keys displayed like this.
Thank you for the kind words! We'll also share this feedback on our reddit I hope you don't mind! We know it's a web wallet and thus designed for on-the-go usage but we also like to think it gives a lot of options even at the level. We'll pass on your suggestions to development, but we leave it to them to decide how they'll take it on! |
|
|
|
|
Question was asked to us on Quora: Is it possible that OKEX withdrawals will never come back and that this cryptocurrency exchange will never recover?
It’s always possible with a centralized exchange. And that’s the risk that is always present when trusting your funds with a centralized entity, not just with OKEX and the very reason people say “not your keys, not your bitcoin”. If you haven’t already, use your own wallet and make sure all your coins are in your wallet with private keys only owned by you.
|
|
|
|
On Bitamp, can I create wallet offline?
Actually, yes you can. A lot of complicated ways to strip the code but you can even just store this page offline if you want: https://wallet.bitamp.com/#/create.htmlIt'll still generate a new seed for you every time you click, without being connected to the internet. This is all client side, you never transmit it across the internet;) |
|
|
|
|
How can I top up and send Bitcoin to people in another country with minimum fees?
Try Localbitcoins as an alternative and see if there are trusted sellers in that country. Best is always to get your own Bitcoin and send it with your own wallet like Bitamp. That’s the only way you set your own fees.
(answer for a newbie)
|
|
|
|
|
PSA: Bitamp wallet means only you have private key access but if your browser is infected with malware allowing hackers to listen in and steal your data, or you somehow lose your private keys to theft, then whoever has it can access your wallet. So keep your private keys safe. Keep your devices clean.
|
|
|
|
|
Personally, we don't think Bitcoin will ever drop below $10k again. Not before hitting another ATH anyway. Either way, keep your sats stacked safely behind your own private keys.
Especially important to remind people during times of excitement like now!
|
|
|
|
What do you think guys? New month, and 60 days left to the year. Will Bitcoin continue its rally and surge towards the long-awaited ATH of 2017? Or will we need to wait a lot longer? Either way, keep your Bitcoin safe with your own private keys! Rally season tends to lead also to exchanges "getting hacked"  |
|
|
|
|
Thank you for the comments coupable! I actually agree on your points but Bitamp does have its uses -- to allow newbies to familiarize with the concept of moving to their own self custody wallet, and two, for better on-the-go access of a small hotwallet on mobile. We want Bitamp to be popular enough some day to perhaps offer integrated services with other commercial ventures:)
Which is for example what Bitcoin_Arena just said;)
|
|
|
|
Don't forget to use Segwit address for transaction because transaction size will be reduced and transaction fee will be cheaper for smaller size of transaction. Difficulty adjustment and price movement of bitcoin will help to reduce size of mempool or make it larger. If bitcoin skyrockets to $20000 mempool will become bigger no matter how difficulty adjustment is made.
It will be a best scenario if after next difficulty adjustment, bitcoin will be stable in price. Mempool will drop back to its normal size.
Great advice! I personally think that it's events like this that will continue to push adoption of new upgrades like Segwit, and the further development of second layer like Lightning:) Also, when things go back to normal, don't forget to consolidate your inputs;) |
|
|
|
|
Bitcoin has hit its highest mempool level since 2017. Stay safe guys, remember to set higher fees if the transaction is urgent, otherwise sit tight and wait for the next difficulty adjustment. These cycles are normal so don't worry!
|
|
|
|
|
Why won't Bitcoin replace banks?
For the simple reason that not everyone will want to be in full control of their own money, or take full responsibility for their funds. Bitcoin, the way it was made, means you and only you decide what to do with it, so if you lose access, no one can help you recover it.
Some people, understandably, still want to trust a bank to keep their funds safe and perhaps want protection of a state guarantee/insurance.
People should remember though that many states and banks have folded in the past decades, taking all client money with them. So that’s a risk on its own.
|
|
|
|
Is GDPR a concern for Bitcoin? Nope, not GDPR. Bitcoin never asks for your information anyway, so there is no need to process or handle personal data. Unpopular opinion but Bitcoin’s biggest problem probably the fact that it’s still not the easiest thing to start using. A lot of friendly user apps out there now that seem easy to use but these aren’t actually Bitcoin wallets where you personally control the funds. Actual wallets that only you control still have some way to reach a nice level of UX, but that’s one big reason we built out Bitamp ( https://www.bitamp.com) wallet — so it’s easy and painless to use on web and mobile. |
|
|
|
How important is layer 2 for Ethereum? At the moment, incredibly important. Since 2017, when Ethereum got the mass adoption that they wanted, they realized that the network simply did not have the capacity to handle that demand in use, hence the various stages of congestion that we’ve experienced over the years, along with the high fees that come with that. So much, so, it’s now even more expensive than Bitcoin to use. Bitcoin’s been working on Layer 2 for a while now and it’s taking off. Defi (read about why it’s so hot now ( https://cryptomarketeer.com/what-is-defi-and-why-is-it-so-hot-right-now/)) now has also used to some extent and success Layer 2 — at least until Ethereum 2.0 with improved scalability arrives (circa 2021 hopefully). |
|
|
|
I need some advice on how to securely transfer a private key I made in Bitamp from iOS to my Linux PC so I can load it with funds.
If you have an email client that supports PGP encryption, that might be one relatively simple way to send yourself your private key with end-to-end encryption -- I know there have been recent vulnerabilities discovered, but those are with attackers sending messages, I'm not aware of any if you send yourself the message and you know what's in it. |
|
|
|
I sugggest the Bitamp team consider to use the official and initial account Bitamp.com to leave a neutral feedback on bitampcom and notify it as the official PR account of Bitamp.com in the feedback content. It will be helpful for new guests in the thread and can help to reduce compromise when something happens with the PR account. We'll ask and remind the devs to do this. There is a slight issue with account accesses due to different ownership of the PR/marketing and such on these accounts but we're cognizant of the need to address this at some point. Thanks for the feedback. |
|
|
|
Nevertheless, I will never trade CBDC that is a kind of digitalized fiat currency. Why do I need to believe in the value of fiat currency and should I believe that my privacy won't be destroyed by trading it?
No, never. From my perspective, digitalized currencies are created and backed by governments only serve their ultimate purposes to help governments reduce costs of minting (rather than printing) new flow of money supply (from paper fiats to digitalized fiats) and better follow the flow of money from locals.
Thank you for your response! I don't think we would either. Doesn't make sense for us to trade CBDC, unless we were already into forex. Imagine if central banks already control fiat (and they do), what more control could they exert over CBDC where they have absolute control over supply? They could increase, burn, lock, reverse, as much as they want. And that's the big part you mentioned: better surveillance over their people. |
|
|
|
|
We've been away for a while but just sharing our latest answer on Quora to the question: How would governments go about trading CBDC’s (Central Bank Digital Currencies) across borders?
They would probably just use permissioned (that’s private blockchain as opposed to public) blockchains that give access to each other and then it takes simple programming to create representations of their respective currencies to interact with each other via smart contracts.
Very similar to how Bitcoin interacts with some platforms and then have wrapped Bitcoin tokens to swap directly with native tokens. That’s one way to implement this anyway!
|
|
|
|
|
Question: What stops a wallet from stealing bitcoins?
We thought it was a weird question but we got asked several times, so let's try to answer anyway:
Cryptography and code. Wallets cannot steal Bitcoins. They are simply a way to access the Bitcoin on the blockchain, using private keys. When Bitcoin is stolen, it’s not wallets that are the ones doing anything, rather, private keys (and therefore, access) are stolen and used to access coins, and send them out to another wallet controlled by the thieves.
So the only way to stop theft is to keep your private keys safe. Without them, anyone could view your wallet addresses as much as they want, but not access the coins in them.
|
|
|
|
|
Show Posts
