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Wallet's main purpose is to allow you to store your coins and use them, by receiving and emitting transactions.
Exchange's purpose is to allow you to trade crypto for fiat currency (or possibly other values), and vice versa. Most of them technically also are wallets.
The main disadvantage with exchange wallets is you never know what will happen to your coins if there is a hack or other. So if you have plans to trade the coin keep in exchange wallets or if you want to hold the coins in long term keep in wallets.
But if you are holding coins in the wallets you need to save all private keys, seeds etc. otherwise you loose all your coins. If you lost coins in an exchange then the exchange may be responsible for that.
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There are both advantages and disadvantages with trading and mining.
Mining advantages
No extra fee charged for mining apart from investment.
Risk free in long run
Consistent profits
Mining disadvantages
Long term investment
Can't earn money quickly
Huge time involvement
Trading advantages
Quick profits
No investment in equipment
Easy to manage like sell high buy low
Trading disadvantages
Requires more skills than trading
Impossible to predict prices
Trading fee
Higher risk
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None of them are regulated (yet) and only individuals with the highest capacity for risk should get into the cryptocurrency market. So no one knows whether any cryptocurrency will increase in value.
Bitcoin remains the most visible and frequently traded cryptocurrency and Litecoin offers its own advantages like faster transactions, potential for profitable mining etc.
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There are lot of crypto currencies that were created to compete with BTC
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
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Google Authenticator x Hydro Authenticator how hackers can access sites with Google Authenticator: https://medium.com/mycrypto/dissecting-a-hitbtc-phishing-site-8e631a6c29a3- Google Authenticator: the code is showed on the Google Auth to be added on the website --> RISK: phishing website - Hydro Authenticator: the code is showed on the website to be added on the Hydro app (to be authenticated) --> Hydro app validates correct codes only. |
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It is very difficult to know which coin is profitable. Because of easy trading most of the shit coins also mooning in a minutes and falling in minutes. And present situation BTC is falling so all other coins also fall. So investing in a best coin will make profits. ETH,XLM,NANO,NEM,HYDRO are some of the better coins to make profits.
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The concept of 1% is really good idea but It is highly impossible to get 1% gains everyday at present situation because market is in downtrend. Sometimes it may more than 1% and some times with losses. But we may get profit with arbitrage with exchanges it will be bit easier to get profit. And recently I've seen a website Cryptohopper which is an automated crypto trader bot that makes profit for you.
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Personally i am waiting for the pump of NANO(RaiBlocks) because this coin has huge potential, No fees for transactions, Low latency, Scalability and Simplicity.
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Both KuCoin and Binance are wonderful sites great UI good Giveaways, competitions etc. But comparitively Binance is more user-friendly and no lags while trading. And trading volume is high in binance. So i like Binance.
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Just checked Hydro Android app! its working great. 2FA with blockchain great idea.
All the best team
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in trading, even after years of losing money month after month, ‘traders’ still believe that the only reason they have not become a millionaire is because they haven’t found the right strategy yet.
It is impossible to predict where price is going to go in the future.
Be prepared by having a fixed stop loss in place. Anything may happen at any time like bad news dump coz single trade could wipe out your trading account. Don't change your trading approach after a few losing trades Stick to your approach.
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400% is very big to me actually i entered into crypto market in last November at that time all coons are nearly at ATH. And now BTC around 6k-7k so now roughly I'm in 50-60% loss but i believe that it will surely recover but i can't say exact deadline. First thing what i do is of i get some profits I'll try to take initial investment back and then keep profits in crypto so that even price drops don't effect to me. But at this moment i can't say when i will get safe zone.
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We all know that crypto currency is volatile. Price drop happens every year. Without drop in price new investors may not get opportunity to invest in crypto. And we can't predict crypto market. Panic sellers always sell with loss and new investors comes.. but wr have to realise that every year is not same. In 2017 BTC and almost all alts reached ATH but we can't expect same for 2018. It's may or may not happen.
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Yeah the first crypto rule is never invest more than you are willing to loose.
Everyones strategy in crypto is at the end of the day we must free from risk with good profits. In crypto, Higher the risk. Higher the profits.There is nothing wrong with being a long term holder. However, diversification of risky investments, especially when your paper-profit becomes a huge part of your overall portfolio, is wise. After getting profits taking initial investment back is very good idea so there will be zero risk so you can trade only with outside money.
Some people joining in pump and dump groups and loosing 30-80 percent of money.
Always trading with stop-loss is good idea now some exchanges like binance supporting stop-loss feature.
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Buying alt coins by trading with Bitcoin is good idea when the alt coin satisfies some factors like good team, good roadmap/project, community etc. But trading is better when Bitcoin price is raising Because all alt coins follow Bitcoin, when BTC price is dropping, alts drop even more so at this situation Bitcoin is safe or USDT
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The concept of the project is so interesting. Just registered for airdrop.
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Any whitepaper, Roadmap? or this concept is already working? Please add more details.
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Airdrop is still open? How to participate in VOLPCOIN Airdrop?
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