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1  Other / Beginners & Help / Tips on how to keep your Bitcointalk forum account safe. on: September 30, 2022, 09:03:41 AM
I discovered a thread recently that was created by BetGalaxyADM, accusing one of the reputable escrow service on the forum of collaborating with the scammer, Massively fraudulent Escrow Transaction!. This account BetGalaxyADM was involved in a deal with Burky155 on the forum, and his forum account was compromised. He used an escrow service, and when his account was compromised, the hacker was able to get access to his account and contact the escrow service, requesting the release of funds. The escrow service complied with the request and released the funds without realizing the account had been compromised.
I believe a similar thread about how to secure your forum account has already been started, but I hope this serves as a friendly reminder to forum newbies to protect their forum account from hacking.

I'll offer some advice on how to prevent hackers from accessing your forum account.

1. First of all, when creating a forum account, I recommend using a strong password. Letters, numbers, symbols, uppercase and lowercase should all be included in your password, your password should not be stored in any application or on the internet. For example, it is strongly discouraged to secure your password on your email address. Always make sure you keep your password safe offline, away from any internet access.

2. Avoid clicking on phishing links, do not click on random links you receive on emails or on social media, as these could be phishing attempts to attack your bitcointalk forum account. If you receive a link asking you to verify your forum account or asking you to change your forum password, always ignore messages like that, and you can decide to visit bitcointalk.org and change your password without clicking the link you were sent. Enter your forum details on no other forum than http://bitcointalk.org. Because there are so many phishing attempts going on right now, we must be extremely cautious about the links we click.

3. Always avoid downloading untested software or dangerous files. Always keep your computer safe from malware, dangerous files can easily compromise your device, which hacker can easily have control of your device.

4. Always secure your  email address. You can use 2FA to secure your email address, so that hackers won’t easily have access to your email address. Also, avoid entering your email address on untrustworthy websites, It's always better to have a separate email address for the forum that you won't use on any other websites, so that nobody will be able to hack your email address.  If your email address have been compromised it will be easy to hack your forum account, because the user can easily input your bitcointalk username on the forum and click on reset password, a code will be send to your mail which the user can easily use to access your forum account.

5. Avoid logging in with a random user's mobile device, Nobody can be trusted, incase of emergency and you want to use the forum and you don’t have choice than to use other users device, maybe you are not close to your laptop or due to other reasons, make sure you change your password when you are with your laptop or mobile phone. Some devices will save your username and password, allowing the device owner to easily access your bitcointalk account whenever he wants and increasing the risk of account getting hacked.

6. When creating your Bitcointalk forum account, make sure you don’t use the same username and password for other websites as you do for the forum. Always use a unique username and password so that no one can figure out your login information. Use different username and password from the once you have being using on other websites or forums.

7. You can carefully sign a message with your wallet address as well. This can help you prove ownership of your account in case you fall victim to account hacking, if you can sign a message with your wallet, then you can recover your forum account back.

In conclusion
Account security should be taken very seriously in order to avoid such incidents, because prevention is better than cure.
2  Other / Beginners & Help / P2P transaction cheating techniques. on: July 13, 2022, 09:17:01 PM
Every day, a growing number of people adopt cryptocurrencies, and everyday additions to the population all want to use cryptocurrency exchanges to buy and sell tokens and coins. Due to its trustworthy p2p transactions, exchanges like Binance and Kucoin are among the most popular exchanges. However, many scammers continue to operate and utilize various p2p transaction cheating techniques.
Many buyers and sellers were involved in a peer-to-peer transaction; some of the cheaters among them will set a very high purchase price to entice the seller, but the seller falls for this and always pays less than what they agreed to.


Most individuals tend not to notice this since we consider it to be the standard and are quite confident that nothing similar to this will occur. This week, a friend of mine told me that he was conducting a peer-to-peer transaction and that the payment was less than what he had expected. He also informed me that he had previously had the same problem from a different source. I write this to inform our newcomers and a few other colleagues because anyone may become a victim of such an act because of the complete faith we have in the exchange, thus we need to be really vigilant and always check our transactions.
Before releasing the coin, you can always Appeal to the exchange if something like this happens.
3  Other / Beginners & Help / A new Forum Full Member, a new achievement for me. on: February 20, 2022, 10:07:09 AM
Bitcointalk forum has been a home for me; it is the only institution where I can come and learn for free. All of this knowledge comes from many senior colleagues on this forum who work constantly to ensure the forum's success. I am delighted to express my gratitude to everyone here by announcing that I have been promoted to Full Member of the Bitcointalk forum. I can't end this without thanking everyone in the forum who has contributed to my success in some manner, some of whom are my mentors; I must specifically thank @Ratmov, @CryptopreneurBrainboss, @DdmrDdmr, @Charles-Tim, @LoyceV and many others for their selfless service delivery in the forum. I'm utilizing this platform to congratulate myself on reaching yet another milestone.
4  Economy / Trading Discussion / Huge crypto scam that happened last year(2021) on: January 10, 2022, 06:28:26 PM
We all saw a lot of crypto scams that happen last year (2021) that affected a lot of people because a lot of investors and retail traders lost money. I believe cryptocurrency is spreading rapidly right now and a lot of new coins are entering the market, just as scammers are looking for new ways to defraud people and a lot of scam coins will be entering the market. Lot's of people where been scammed in different ways which includes; Brand impersonation on social media, fake exchange, scam coins, ponzi scheme, black mailing, shilling, fake applications and many more. I believe we should be expecting more strategy this year, scammers are coming up with new strategies just to defraud people on a daily basis, so we have to be very cautious so that we won't endup falling victim.
This is a new year, and I believe all our goals is to make profit, Nobody wants to be a victim of a scam project, so I believe we should all be cautious. Do your own research before investing in any project, and make sure all of your personal informations are secure to
avoid scammers having access to your wallet.

Some huge cryptocurrency scam which happened last year.
Quote
The biggest cryptocurrency scams of 2021
2021 was a big year for crypto. It was also a big year for crypto scams.
2021 was a huge year for the mainstreaming of cryptocurrency.
Popular cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin had a banner year that kicked off following the memestock craze that took place in January. These cryptocurrencies soared to new highs, attracting attention from people who may not have been familiar with the industry previously.
But crypto is unpredictable. It's still an incredibly volatile market, almost completely devoid of regulations that protect those who, say, invest in the stock market. With so many crypto newbies jumping into this lawless wild west over the past year, scammers have salivated at all the newfound opportunities to cash in at their expense.
Sure, scammers are still utilizing Twitter to trick new crypto speculators into thinking Elon Musk wants to double their investments. But, that's a 2020 grift. The schemes of 2021 make some of those look like child's play.
To end the year, Mashable has poured through some of the biggest scams of the year. We're not strictly talking about the amount of money stolen either. This list is composed of the most unique and brazen scams, too.

1 SQUID GAME TOKEN:
Take the biggest streaming television hit of the year, turn it into a cryptocurrency, and what do you get?

One of the most widely publicized scams of the year.
Media outlets, embarrassingly, fell head over heels for Squid Game token, a completely unauthorized alternative cryptocurrency based on the hit Netflix series Squid Game.
In just a matter of weeks, Squid Game token went from worth a few bucks to nearly $3,000. CNBC, Forbes, Business Insider, and a slew of other outlets all covered Squid Game token, seemingly enamored by how quickly it was rising in value.
However, there were problems from the get-go. Aside from its creators having absolutely no authority to use the Squid Game name to base their cryptocurrency on, people who invested into the Squid Game token complained right away that they weren't able to sell what they bought.
This was by design, of course. The creators of Squid Game token created an anti-sell-off mechanism right into their cryptocurrency. Of course, not everyone was blocked from selling, however. And Squid Game token ended up the same way most of these altcoins do: A pump and dump scheme that enriches its creators and their buddies, leaving well-meaning retail investors with the losses.
But, the amount of press coverage Squid Game token was able to generate before the scam was unveiled, which likely helped bring more dupes into the scam, was truly one-of-a-kind.

2. SaveTheKids / FaZe saga:
Pushing cryptocurrencies was big business for social media influencers in 2021.

Of course, a large amount of the crypto that your favorite Instagram star or TikTok celeb was promoting ended up being pump and dump schemes. However, no other instance of an influencer-hyped cryptocurrency grift could match what happened with the SaveTheKids token.
In early June 2021, FaZe Clan members Kay, Teeqo, Jarvis, and Nikan, along with YouTuber RiceGum started promoting a charity-based cryptocurrency called SaveTheKids. These influencers didn't just shoot out some tweets that took a few seconds to type either. They shot promotional videos and lent their images to the SaveTheKids website.
The sales pitch was simple: Invest in this new crypto that's sure to be a success because of its connections to the biggest Esports brand on the planet, and the project will help raise money for children's charities as well. A win-win!
Except, the whole thing was a rug pull. This occurs when a developer creates a cryptocurrency with the intent to run away with investors' funds. Shortly after SaveTheKids token officially launched, the crypto tanked due to a massive sell-off from those initial investors holding the majority of the tokens. As soon as SaveTheKids went public, it became worthless.
Perhaps, things could have ended there, the whole situation chalked up as yet another alternative coin scam. But, some noticed FaZe Kay, specifically, had a penchant for promoting cryptocurrencies that all ended this way.
YouTubers like Coffeezilla, SomeOrdinaryGamers, and Barely Sociable soon uncovered a tangled web of deceit that implicated FaZe Kay well beyond just promoting the scam, but also in its creation as well.
By the end of this saga, FaZe Clan launched an internal review that concluded with multiple suspensions and FaZe members including FaZe Kay being kicked out of the group.


3. Adin Ross admits he promoted a crypto scam:
It would be remiss to not award Adin Ross' promotion of MILF token with its very own mention.

Ross is a popular Twitch streamer with millions of followers on the platform. He's received criticism over the past year for his gambling streams, where he promoted sketchy online casino platforms. The streamer himself accidentally leaked his messages in a stream over the summer that showed he's making millions from these promotional deals.

However, in May of 2021, Ross also jumped into the cryptocurrency world by promoting an alternative coin called MILF token. Ross was paid hundreds of thousands of dollars to stream himself going through the tedious process of buying the crypto.
Just three weeks later, however, Ross had a stark change in messaging when it came to this investment opportunity.
"By the way, that MILF Token shit I did a while back? I already told you guys don't buy that shit," said Ross while laughing during a livestream. "I got paid a bag to do that shit. Like, I don't give a fuck. I hope none of you guys actually bought it."
At of the time of publishing, MILF token has lost approximately 98 percent of its value from when Ross promoted it.

4. Fake press releases:
Last year, you couldn't come across a tweet about cryptocurrency without a Fake Elon Musk Twitter account in the replies, pushing some new memecoin or ponzi scheme.
This year, fake press releases have taken this scam to the next level.
On two separate occasions in 2021, fake press releases from global retail corporations duped the media into publishing fake stories that companies were going to start accepting cryptocurrency. In September, a fake press release announced that Walmart would start accepting Litecoin. Just a couple months later, a fake press release claimed that Kroger was going to take Bitcoin Cash as payment.
Neither were true. However, the fraudsters behind these sham documents were successfully able to distribute this fake news through big press release distribution companies, where they were disseminated to and covered by mainstream news outlets.
In both instances, Litecoin and Bitcoin Cash prices went up on the news and then came back down once Walmart and Kroger denied the claims. The result: A quick cash grab for anyone in on the scam. As cryptocurrency advocates continue to seek validation and legitimacy for their young industry, scams that claim to provide that will continue to grow.

5. Poly Network hack:
Forget 2021, this would have been the heist of the century.
Over the summer, a hacker discovered a flaw in the decentralized finance platform Poly Network that allowed them to transfer more than $600 million to their account. More than $600 million.
However, a haul that large would likely have been hard to disappear with scot-free. In the weeks that followed, the hacker reached out to Poly Network and claimed it was always their intent to return the money. Poly Network played along, even referring to the hacker as "Mr. White Hat," a nod to the term describing an ethical hacker that tries to expose security flaws so they can be fixed before a nefarious actor comes along.
In the end, it worked out for Poly Network. The hacker ended up transferring the majority of the cryptocurrency funds back to the platform.
What did the hacker get out of it? For one, they escaped any possible repercussions for carrying out the biggest crypto heist in history. Poly Network also offered a $500,000 reward to the hacker for returning the funds.


6. Africrypt scam:
Two brothers, Raees and Ameer Cajee, ran a Bitcoin investment firm out of South Africa called Africrypt. Now they're missing, along with all of their investors' cryptocurrency.
Back in April of 2021, the Cajees claimed that their investment firm had been hacked and all of their clients' accounts had been compromised. However, the story was quickly picked apart and investors pointed fingers at the Cajees.
Lawyers representing investors claim that as much as $3.6 billion has been stolen by the Cajee brothers. If that was true, move over Poly Network, Africrypt would be the largest crypto heist by far.
However, that number is in dispute. Still, we're talking millions and millions of dollars here, at least.
Africrypt investors are still working on recouping their funds. It's unclear where Raees and Ameer Cajee are currently.

7. Stolen Bored Ape NFTs:
Calvin Becerra's story is small bore compared to the amounts of money stolen through the other scams on this list.
However, it's still worth mentioning.
Becerra is, er, was the owner of three Bored Ape Yacht Club NFTs. Investors buy these non-fungible tokens in order to prove ownership of the item they are connected to. In Becerra's case, we're talking three pieces of computer-generated art portraying cartoonish apes.
According to Beccera, scammers tricked him into sending over these three NFTs under the guise of providing technical support.

The current floor price for one of these apes on the NFT market? Around $225,000.

Becerra claims the three Bored Ape NFTs he owned are over $1 million.
It appears Becerra has recouped at least some of his NFTs, although it seems he had to pay to get them back. However, when they were first stolen, Becerra tried to spread the word and inform others not to buy his stolen NFTs.
Although the blockchain showed he no longer owned them, Becerra claimed that these indisputable records on the blockchain were irrelevant and that he was really the owner. Basically, he argued against the very foundation of which NFT advocates claim gives any of this value.
Perhaps this makes these stolen NFTs the greatest scam of the year after all.

Source link: https://www.google.com/amp/s/mashable.com/article/biggest-cryptocurrency-scams-2021%3famp


5  Economy / Trading Discussion / Bitmart exchange hacked. on: December 05, 2021, 06:30:40 AM
Peckshield recently disclosed that the Bitmart exchange had been compromised. Bitmart has stated that a hacker who targeted the exchange mixed and stole over 20 tokens which includes BNB, Safemoon, BSC-USD and BPAY from their hot wallet address, resulting in a loss of about $200 million. The hack was caused by a large-scale security compromise on the Ethereum blockchain and the Binance blockchain, according to Bitmart's CEO on Twitter. So we have to be very cautious and stay safe.


Quote
The hackers made away with a mix of over 20 tokens that includes altcoins such as BNB, Safemoon, BSC-USD and BPay.
Crypto exchange Bitmart lost nearly $200 million in a hot wallet compromise hosted over the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains.

The $200 million Bitmart hack was first revealed by Peckshield, a blockchain security and data analytics company, who initially identified a transfer of roughly $100 million over the Ethereum blockchain.

Further investigation from the team revealed a concurrent hack of $96 million over the crypto exchange’s BSC reserves:

Total estimated loss: ~200M (~100M on @ethereum and ~96M on @BinanceChain ). (Previously we only counted the loss on @ethereum). And here is the list of affected assets/amounts on @BinanceChain pic.twitter.com/cXXApDFtd7

— PeckShield Inc. (@peckshield) December 5, 2021
The hackers made away with a mix of over 20 tokens that includes altcoins such as Binance Coin (BNB), Safemoon, BSC-USD and BPay. Sizable amounts of meme coins such as BabyDoge, Floki and Moonshot were also compromised in the hack.

According to Peckshield, the hack was a straightforward case of transfer-out, swap, and wash:
Bitmart CEO Sheldon Xia later confirmed the hack over Twitter as a “large-scale security breach” on ETH and BSC hot wallets:

“At this moment we are still concluding the possible methods used. The hackers were able to withdraw assets of the value of approximately USD 150 million.”
3/3 At this moment we are temporarily suspending withdrawals until further notice. We beg for your kind understanding and patience in this situation. Thank you very much.

— Sheldon Xia (@sheldonbitmart) December 5, 2021

Sources link: https://cointelegraph.com/news/bitmart-hacked-for-200m-following-ethereum-binance-smart-chain-exploit?utm_source=Telegram&utm_medium=social
6  Other / Beginners & Help / How to be safe from scammers on: November 15, 2021, 04:32:40 PM
Various types of scams are now in use. From fake giveaway, fake exchange, ponzi scheme, personification blackmail and many more. Scammers are still coming up with new ways to defraud people out of their money. Based on my research, I believe scammers are primarily targeting newbies who they are new to the Cryptocurrency space and can be easily brainwashed and defrauded. However, I feel that the following recommendations, which I will describe below, will undoubtedly assist everyone, especially newbies, in protecting their wallet against theft.

Quote
1. DON'T TRUST ANYONE: In the crypto space, you don't have to trust anyone, even if you think you and the person have been doing business for a long time and you believe the person won't scam you. The person may be trying to earn your trust first, and then when you have a larger transaction with the person, he will run with your money. Before investing your money, make sure the website is standard and have a active social media with real and reasonable followers, and make sure you conduct a lot of research on your own to confirm the investment is legitimate.

2. ALWAYS PROTECT YOURSELF: When it comes to cryptocurrency, you must be cautious and always protect yourself; otherwise, scammers will take advantage of little opportunity to defraud you. For example, you may receive a link on your social media or email to claim an airdrop or other giveaway; do not even try to click the link; or some may ask you to follow someone on social media to be eligible for a giveaway; please avoid all of these things because I believe they are currently rampant and many people are being defrauded. You must exercise extreme caution even while opening the link sent to you by a friend; you cannot trust anyone, which is why you must safeguard yourself. Never give out personal information such as your private key, password your email login details or your mobile phone password, make sure you save your personal information in a secure place

3: YOU DON'T HAVE TO BE GREEDY IN CRYPTOCURRENCY: I don't believe there is such a thing as "free money" in Cryptocurrency. Nobody will give you money unless you work for them. No reputable company will give you money unless you work for them. If someone sends you a message telling you to send a certain amount of money and they will double it for you in a few days or hours, realize that it is a total falsehood and that the person is just attempting to scam you. There are many methods to profit from cryptocurrencies, but you must put in a lot of effort.

4. BE VIGILANT: The way scammers plan their scams now, they modify everything and make it look very real, but it could be a scam, so you must be very vigilant. If anyone claims to have your personal information, ask for proof, and if he asks for money before he can send it, he is most likely a scammer. If you're sending money to any exchange or website, make sure you're on the right one. There are a lot of phishing websites out there that claim to be legitimate, so double-check the website before sending money there.

5: HOW TO SPOT A RIDICULOUS SCAM: There are a few basic things you may perform to determine whether or not someone is a scammer. To begin, check to see if there is a Twitter account listed on the website, and read through the comments. Trusted websites do not post reviews of themselves on their websites, nor do they post certificates as proof of their legitimacy. You can also use Google to learn more about a website.


I believe this post will definitely help, but there are still many more scams that you won't be able to detect with the following pathern. You simply need to be very careful and vigilant, as scammers work on a daily basis to deceive people. Make sure you report any scam activities you come across on Bitcointalk and other places as it will greatly benefit many people.

Sources: https://scam-alert.io/
7  Economy / Exchanges / Bilaxy exchange update. on: November 09, 2021, 08:56:59 AM
Currently, Bilaxy exchange has suspended their trading activities as well as their app on Google Playstore. I believe the reason for the suspension of trading activities is because Bilaxy exchange was hacked a few months ago, and the hacker stole logs of funds, which severely harmed the exchange. They are currently working to put in place all necessary security measures to ensure that such an event does not occur again, and that all of their customers are protected.
There is now no Bilaxy exchange app on the Play Store, so if you come across one, be sure to check if it has been relaunched on playstore on their Telegram group, because scammers might create fake app on the Play Store just to scam people of their fund, so confirm from group first before downloading the app.
Currently you can buy and sell any coin from Bilaxy exchange incase you receive a link from someone claiming to be one of the admin and they will convince you that if you click the link you might be able to trade your coin, which will definitely request for your login details, if you click on the link and you imput your Gmail and password, your wallet will definitely be wiped. Make sure any link you receive to their website is from their Telegram group and not from anyone who claims to be the admin.


Bilaxy exchange application have currently been removed from playstore.


Currently Bilaxy exchange trading have been suspended so incase if you complain in thier Telegram group lot's of scammers will message and will tell you they want to help pls avoid them.


Bilaxy Telegram invite link: @bilaxychat
Bilaxy official website: http://www.bilaxy.com
8  Alternate cryptocurrencies / Service Discussion (Altcoins) / Avoid. on: October 29, 2021, 11:14:29 PM
I recently became a victim of an exchange, and I would advise everyone to be very cautious and avoid becoming a victim also. I came across an exchange that is not well-known or trusted, but as crypto traders, we are just looking for ways to make money, so I wanted to do something on the exchange, so I deposited XLM coin on the exchange, and within 3 minutes, I received the coin on the exchange, which is stormgain.com, so after doing everything and I wanted to withdraw my fund, after submitting my withdrawal request, I waited for about 6 hours but didn't receive any coin after about 24 hours, so I messaged them on Telegram and the admin told me to contact their support, which I did right away. After about 48 hours, I received a message saying my transaction was successful, but then they sent me another message saying my withdrawal was rejected, so I messaged them again
on Telegram and the admin asked me to contact the support team again which I did but have not heard from them again so pls we all have to be careful because for 2days now have not been able to withdraw my money, so we all have to be careful so that another person won't fall for this, have already forgotten about the money there but I don't want another person to fall.




My withdrawal was rejected without giving me any reason and I still contacted them but no response from them.




The money is just in my wallet in their exchange but I can't withdraw it.

Website link: https://stormgain.com/
9  Economy / Scam Accusations / Airdrop participants scam!!! on: October 26, 2021, 05:10:00 PM
I believe we all need to be very cautious right now because scammers are after us and they are just looking for new ways and strategies to scam people. I believe we have all heard about various scams that are currently taking place in cryptocurrency market to which I believe anyone can fall victim, so we all need to be cautious, especially newbies who don't really understand how things are going in Cryptocurrency.
At the moment, I noticed another scam strategy.
You will receive a link to paste on your trust wallet 'DAPP' or your meta mask to claim an airdrop with your wallet address, you do not have to do that they are scammers trying to wipe your wallet address as soon as you copy and paste it, they will automatically have access to all the funds in your wallet and all the coins in your wallet will be wiped, so we all have to be cautious.
For example:


Seriously, I believe we should all be cautious about the links we open because some of them are designed solely to defraud you and not to assist you. If you are new to cryptocurrency, I recommend that you take the time to learn about it so that you are not duped by scammers. You should also be aware that cryptocurrency is not a system where you can send money to someone and have it doubled for you, nor should you trust anyone with your private key, as there are numerous scams. If you are asked to participate in an airdrop and have been sent a link, you must conduct your own research before clicking or participating in the airdrop. I believe if you want to be participating in airdrop you can just get a new wallet address which is empty and you can be using it for airdrop
10  Alternate cryptocurrencies / Altcoin Discussion / ENaira launch. on: October 25, 2021, 08:24:08 PM
The long-awaited digital currency, eNaira, has finally been launched on October 25, 2021. It is a digital currency issued by Nigeria's central bank that also functions as a form of money. ENaira can be used as a means of exchange as well as a store of value, and it simplifies retail payments.
Nigeria become the sixth country in the world to introduce a centralized national electronic money after President Muhammadu Buhari announced the launch of e-naira on 25,10,2021 . The Nigerian eNaira, which uses an e-wallet, can be linked to account number.
ENaira application can be easily downloaded on playstore with the following link: https://play.google.com/store/apps/details?id=ng.gov.cbn.speed.wallet.temp


Quote
Nigeria’s eNaira goes live after official launch by Buhari
The CBDC’s digital currency app and its merchant wallet are now live and available for download.
Nigeria’s central bank digital currency (CBDC), the eNaira, has gone live after an official launching by President Muhammadu Buhari on Monday.

The launch took place at the State House in Abuja. An earlier plan to unveil the digital currency on October 1 was shelved.

Nigeria is one of only a few countries in the world to develop an official digital currency.

The eNaira was developed by fintech company Bitt, which is also behind the creation of CBDC in some East Caribbean countries.

At the launch Monday, the Central Bank of Nigeria governor, Godwin Emefiele, said 500 million eNaira ($1.21 million) has already been minted.

The CBDC’s digital currency app and its merchant wallet are now live and available for download.

The two apps, eNaira speed wallet and eNaira merchant wallet, are now available on Google playstore and Apple store.

A notice on the enaira website gives details into how the currency and the wallet will work.

“Get Ready With Your Accurate BVN Data For Your Hitch-Free Enrolment,” it says.
“To sign-up on the eNaira speed wallet, you would be required to input the following details exactly as captured during your BVN enrollment.

“First Name, Last Name, Date of Birth, State of Origin, and Email.

Sources link: https://www.premiumtimesng.com/news/headlines/491610-nigerias-enaira-goes-live-after-official-launch-by-buhari.html

11  Economy / Exchanges / How to deposit and withdraw on exchange on: October 21, 2021, 09:39:34 AM
Deposit and Withdrawal in a cryptocurrency exchange is one of the most important things that I believe novices who are new to cryptocurrency will want to know about, and I believe that this post will really help newbies who don't know how to deposit and withdraw from a cryptocurrency exchange because I will be guiding them on steps to follow to deposit and withdraw on some exchanges. We all know that leaving our funds in a cryptocurrency exchange wallet (non custodial wallet) is not a good idea because your funds are not safe there. There is a saying that goes "Not your key, not your money" because when you leave your money in an exchange, you don't have complete control over your funds because you don't have the private key.
Some people will also want to start trading for the first time, which they will want to deposit fund in exchange and they will be scared using wrong address which will lead to lose of fund, some will be having difficulty whenever they want to make withdrawal to their custodial wallet address after trading, I believe it's advisable that you return your funds to your custodial wallet address, for which you have the private key, and ensure that you don't share the private key with anyone. Your funds will be safe there because you have complete control over the wallet, so they are all yours. I feel that if you want to hold a coin, you should make sure that after buying the coin from an exchange, you should transfer it back to your custodial wallet address since leaving your coin in an exchange is quite unsafe because anything may happen to the exchange at any time. This post I believe, will be really beneficial to newbies who will also want to send coin to someone.

The following are the exchange which I will be giving procedure on how to deposit and withdraw which includes

1. BINANCE EXCHANGE
2. KUCOIN EXCHANGE
3. PROBIT EXCHANGE.

HOW TO DEPOSIT A COIN ON BINANCE EXCHANGE.

- LOGIN TO YOUR ACCOUNT THEN CLICK ON WALLET.


- CLICK ON DEPOSIT


- CLICK ON SEARCH AND SEARCH FOR THE COIN YOU WANT TO DEPOSIT.


- CLICK ON THE CHAIN YOU WANT TO USE THEN COPY YOUR WALLET ADDRESS.



HOW TO WITHDRAW FROM BINANCE ACCOUNT.

- LOGIN TO YOUR ACCOUNT THEN CLICK ON WALLET.


- THEN CLICK ON WITHDRAW.


- CLICK ON CRYPTO THEN CLICK ON SEARCH AND TYPE ANY COIN YOU ARE ABOUT TO WITHDRAW.


- SELECT THE NETWORK WHICH YOU ARE WITHDRAWING TO AND MAKE SURE YOUR WITHDRAWAL NETWORK IS THESAME WITH YOUR DEPOSIT NETWORK.

THEN YOU ENTER WITHDRAWAL WALLET ADDRESS, NETWORK, AMOUNT YOU ARE WITHDRAWING AND YOU WILL CLICK ON THE WITHDRAWAL BOTTON AT THE BOTTOM.



HOW TO MAKE DEPOSIT ON KUCOIN.

- FIRSTLY YOU LOGIN TO YOUR KUCOIN ACCOUNT, THEN CLICK ON ASSETS.


- THEN YOU WILL CLICK ON DEPOSIT BOTTON.


- CLICK ON SEARCH AND TYPE THE COIN YOU WANT TO DEPOSIT ON YOUR SEARCH BOX.


- SELECT THE NETWORK YOU WANT TO USE, THEN COPY YOUR WALLET ADDRESS.




HOW TO WITHDRAW ON KUCOIN.

-FIRSTLY YOU LOGIN TO YOUR KUCOIN ACCOUNT, THEN CLICK ON ASSETS.


- CLICK ON WITHDRAWAL.


- CLICK ON SEARCH AND TYPE THE COIN YOU WANT TO WITHDRAW ON THE SEARCH BOX.


- THEN YOU WILL SELECT YOUR CHAIN, YOU WILL PAST YOUR WITHDRAWAL WALLET ADDRESS, SELECT YOUR WITHDRAWAL AMOUNT, THEN YOUR CLICK ON REMARK WHICH IS OPTIONAL THEN YOU CLICK ON CONFIRM.



HOW TO DEPOSIT A COIN ON PROBIT.

- FIRSTLY YOU LOGIN TO YOUR PROBIT ACCOUNT THEN CLICK ON WALLET.


- CLICK ON SEARCH BOTTON.


- THEN SEARCH FOR THE COIN WHICH YOU WANT TO DEPOSIT AND CLICK ON THE COIN.


- YOU WILL SEE A DEPOSIT BOTTON, CLICK ON IT.


- THEN YOU WILL COPY YOUR WALLET ADDRESS.



HOW TO MAKE WITHDRAWAL ON PROBIT EXCHANGE.

- FIRSTLY YOU LOGIN TO YOUR PROBIT ACCOUNT THEN CLICK ON WALLET.


-CLICK ON SEARCH BOTTON.


- THEN SEARCH FOR THE COIN WHICH YOU WANT TO WITHDRAW AND CLICK ON THE COIN.


- YOU WILL SEE A WITHDRAWAL BOTTON, CLICK ON IT.


-THEN TYPE YOUR WITHDRAWAL AMOUNT, YOU WILL SEE YOUR NETWORK FEE(TRANSACTION FEE), THEN YOU WILL CLICK ON NEXT.


-THEN YOU WILL BE TAKEN TO WHERE YOU WILL PAST YOUR WITHDRAWAL WALLET ADDRESS THEN YOU CONTINUE, IT WILL SHOW YOU YOUR OVERVIEW OF YOUR TRANSACTION THEN YOU CONTINUE.


Sources link: https://www.binance.com/en
Sources link: https://m.kucoin.com/
Sources link: https://www.probit.com/en-us/
12  Other / Beginners & Help / USA overtake's China in minning activities. on: October 14, 2021, 08:41:56 AM
China used to be the leading country in bitcoin mining, but since China chose to shut down all mining activities for reasons I don't fully understand, the United States has surpassed China to become the leader country in mining activities, according to the latest news and analysis.

Quote
After China has reigned for a number of consecutive years as the dominant bitcoin mining epicenter of the world, the United States has “taken the leading position in bitcoin mining,” according to new data from Cambridge University.

Data Shows US, Kazakhstan, Russian Federation Rule the Bitcoin Mining Roost
In mid-July, researchers from the Cambridge Bitcoin Electricity Consumption Index (CBECI) project published new data from the website’s “Bitcoin Mining Map,” which had not been updated since April 2020. In that specific report, CBECI researchers noted that China’s hashrate dominance was much lower than in previous estimates. On October 13, CBECI researchers published updated data on all the countries participating in bitcoin mining and where most of the mining activity is taking place these days.

“The latest update to the Cambridge Bitcoin Electricity Consumption Index (CBECI) has confirmed the impact of the Bitcoin mining crackdown in China,” the report detailed. “[It shows] that the leading share of global Bitcoin network hashrate now sits in the US, followed by Kazakhstan and the Russian Federation.” The CBECI researchers added:
China’s Crackdown ‘Increased Geographic Distribution of Hashrate Across the World’
Since June 28, 2021, the Bitcoin network hashrate climbed 101.44% from 69 exahash per second (EH/s) to today’s 139 EH/s hashpower measurement. Michel Rauchs, digital assets lead at the Cambridge Centre for Alternative Finance, discussed how China’s crackdown helped fuel the shift in global bitcoin mining.

“The immediate effect of the government mandated ban on crypto mining in China was a 38% drop in global network hash rate in June 2021 – which corresponds roughly to China’s share of hashrate before the clampdown, suggesting that Chinese miners ceased operations simultaneously,” Rauchs suggested.
Besides the new top three countries leading the hashpower race, the next largest hashrate shares reside in countries like Canada (9.55%), Ireland (4.68%), Malaysia (4.59%), Germany (4.48%), Iran (3.11%), and Norway (0.58%). CBECI’s report highlights that while the U.S. got some hashrate from fleeing Chinese miners, the crackdown also “increased geographic distribution of hashrate across the world.”

“It is worth noting that the shares for Ireland and Germany are likely due to a growing number of miners rerouting through those countries via VPNs or proxy servers, rather than growing mining activity for which there is little or no evidence,” the CBECI report explains.

What’s also interesting is the fact that at least four out of the five top mining pools today originally stem from China and now many of them operate internationally and in unknown regions. F2pool, formally known as “Discus Fish” started mining bitcoin (BTC) on May 5, 2013, and was originally based in China.
F2pool commands 26.76 EH/s in hashpower and around 19.39% of the global hashrate today. Antpool, owned and operated by Bitmain, also initially came from China and is the second-largest hashing pool on October 13. Antpool captures 16.59% of the global hashrate with its 22.89 EH/s of hashpower. There’s also the top mining pools Viabtc and Poolin, which begs the question.

Sources link: https://news.bitcoin.com/geographic-distribution-data-shows-us-takes-leading-bitcoin-mining-position-after-chinas-crackdown/
13  Alternate cryptocurrencies / Altcoin Discussion / NFT scam!!! on: October 08, 2021, 04:49:00 PM
NFT is for non-fungible token, and it is a rare online property that represents ownership of real-world goods such as art. Non-fungible tokens (NFTs) can only be traded on the Internet and are used to substitute ownership of a specific asset.
I believe that not everyone who offers you NFT has a positive intension toward you, that's why you should be cautious if you receive NFT from anyone or buying from anywhere. NFT is also an asset, and NFTs are included on the Ethereum blockchain, Which makes NFTs special token on their own and then cointans data within them.

Currently, there are ways in which NFTs can be used to scam people that most people are unaware of. Some people do not believe NFTs can be used to scam people, which I believe from this post you should be aware of it because I will be discussing a few of them, so whenever you come across things like that, you should definitely avoid them and be cautious to avoid being scammed.

1. Clone NFT stores: There are many fake NFT stores that sell copied NFT that people may believe is the original NFT. Scammers will create a fake website in which they will buy a domain name that is very similar to the original NFT store domain name that will look exactly like the original one and you will be asked to input your credit card details in the website that is fake and your credit card will be compromised and they will steal your money. They will ensure that they use the logo of a legitimate NFT store, and will allow their website looks like the original NFT store website, and they will sell the same type of NFT that is available on the main NFT store, which they are selling the fake NFT. As a result, we must all exercise extreme caution while selecting a store from which to get our NFT.

2. Brand impersonation on social media: currently, this method is widespread, and if you are not cautious, you may end up joining a fake social media group, which is very common on Telegram. You will join the fake group and believe you have joined the original group. The scammers create a Telegram group using the name of a legitimate NFT store, but it is a false account, not the genuine account, and they always claim to be official support, which they are not, and their main goal is to defraud people of their money.

3. NFT can also be sent to your wallet address, and the sender of the NFT will track the cryptocurrency or coins in your wallet, and then he will steal the coin in the receiver of the NFT wallet, so we should be very careful because not everyone who gives us NFT has good intentions with us; some have wicked intentions, and they are only trying to steal and not give.

4. Currently, this method is also used to empty people's wallets; you may receive a link on social media that contains a virus; if you open the link, the hacker will automatically gain access to your wallet and begin draining all the coins in your wallet, therefore, you must be cautious about the links you click, some people are simply attempting to hack into your account.
14  Alternate cryptocurrencies / Service Discussion (Altcoins) / Fake PancakeSwap app(Avoid) on: October 01, 2021, 08:33:01 PM
Pancakeswap swap is a decentralized exchange that was founded in 2020 and has since undergone numerous updates. Pancakeswap is built on the Binance blockchain, which allows you to quickly swap coins on the Binance blockchain. Pancakeswap is distinct due to its minimal transaction fee, and Binance blockchain transactions are simple and quick.
I just read in the news that some scammers took the time to construct a bogus app on Google Play with the sole intention of scamming individuals using the app. Which I also examined, and I'm convinced it's a fraudulent app based on user's reviews.
Scammers will be able to see your private key whenever you download the fake app and try to steal your fund. Seriously, we just have to be very careful about the App we download now, and the websites we visit, because scammers are trying everything they can to defraud people.

Quote
Three Fake PancakeSwap Apps Flood Google Play Store With 12K+ Downloads
A Redditor has drawn the attention of the crypto community to three fake mobile apps for Binance Smart Chain-based decentralized exchange PancakeSwap mobile applications found on the Google Play Store.

The Redditor named u/R_PH noted that he came across the applications on the popular Android app store while checking some updates.

Shocked that he may have missed the official release of the mobile version of the popular BSC-based exchange, the Redditor did research, which showed that scammers had created the apps in order to steal unsuspecting victims’ private keys.

Fake PancakeSwap App Gaining Traction
A quick search on Google Play Store confirmed that three fake PancakeSwap apps have been live on the platform and are gradually gaining traction.
At the time of writing, the apps have recorded more than 12,000 downloads combined, and they seemed to be uploaded this month given the reviews on their respective pages.



Many Users Scammed
Judging from the reviews, some people have already fallen prey to the fake apps. The hackers succeeded in stealing users funds through their private keys.

The reviews contain different horrible tales of users complaining that they lost thousands of dollars a few minutes after providing their private keys.

u/R_PH has called on the cryptocurrency community on Reddit to join other users in reporting the application as a scam, before it wrecks more havoc.

It is worth noting that PancakeSwap does not yet have a mobile application and all its functions are still web-based.

Fake Crypto Apps Becoming Popular
The practice of scammers creating cryptocurrency-related applications and uploading them on popular app stores is becoming more common these days.

Coinfomania reported a similar development about popular Ethereum-based decentralized exchange Uniswap late last year.

Per the report, hackers had uploaded their version of the exchanges’ app, stealing users’ keys and gaining unrestricted access to their funds.

Similarly, a crypto user said that he lost 17.1 Bitcoin (BTC) to a fake Trezor wallet application he downloaded from the Apple Store.

Google is Not Helping Matters
The unfortunate incident caused many people to wonder how the malefactors were able to pass through Google’s advance security procedures to have the app listed for weeks, while continuing to cause users’ losses.

Despite calls by users to take down the app, the application is still relaxing comfortably on the platform, with its number of downloads increasing by the day.

Staying Safe
While it is not in users’ power to stop these illicit applications from finding their way to popular app stores, users are advised to take adequate measures to keep themselves safe.

Before downloading crypto-related applications, it is advisable you conduct due diligence, including researching whether there is an app for the service you want to use.

You should also take note of the number of downloads the app has gathered so far, as well as what existing users are saying about the application via the review section.

Sources link: https://cryptonews.net/1983625/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared





15  Bitcoin / Bitcoin Discussion / What will happen after 21 million bitcoin have been mined? on: September 30, 2021, 06:37:43 PM
I've been thinking about something that I believe some people will also be thinking about, which is what will happen after 21 million bitcoins have been mined. Currently, I believe around 18 million bitcoins have already been mined within 10 years, leaving only 3 million bitcoins to be mined. According to projections, the last bitcoin will be mined by 2140, which means we still have 100 years before the last bitcoin is mined.

According to what I think, after the maximum bitcoin of 21 million bitcoins has been mined, miners will continue to be active, but they will no longer be able to mine more bitcoins. Instead, they will make money from transaction fees collected from each transaction.
This is just my opinion; please let me know what you think.

My question is;
- what happens after 21 million bitcoins have been mined?
- What will miners do after the total of 21 million bitcoins have been mined?
- Will the total supply be increased because some bitcoin holders have died and others have lost their private keys?
Pls your suggestion will be highly appropriate and I believe will also help other members.
16  Other / Beginners & Help / Some cryptocurrency scam to avoid. on: September 29, 2021, 07:02:51 AM
Currently people are really looking for ways just to scam people which is very bad, scammers are coming up with new techniques or strategies on a daily basics, so whenever you come across thing's listed below you all have to be careful to avoid been scammed.

1. Fake exchange: Scammers will always convince you of a fake exchange. They will give you an exchange and will brainwash you into believing that you can buy bitcoin and other cryptocurrency at a very low price, but once you send your money to the exchange, you will not be able to withdraw it, so if you are making a transaction in any cryptocurrency exchange, make sure it is a reliable exchange that you know about.

2. Ponzi scheme: I believe this scam pattern is very popular right now. They will ask you to send your bitcoin or any coin, and they will say that after 24 hours or a few days, they will double your money, and you will not hear from them again. And I believe it works primarily on newbies who don't understand what cryptocurrency is all about; they believe it's just a place where you can quickly double your money or make money, so please be cautious and avoid all those types of people.

3. Scam coins: There are a lot of new coins entering the market right now, and the main purpose of creating the coin is to scam people. After the coin is created, the team or owner pumps the coin to encourage people to invest in the coin, and then they dump the coin on the investor. This is fairly common in the cryptocurrency market currently when a team dumps coin on investors, therefore you must be very careful if you invest in a coin and do your research thoroughly before investing.

4. Personification: This is another method used by scammers to steal money from people. For example, some may create accounts using a celebrity's name or a social media account using a project's name that is fake and use it to scam people by providing fake giveaways.

5. Black mailing: I believe you should be very cautious about who you share your personal data and videos with, which is mostly done on the internet. This is the process by which you are threatened to send a certain amount of bitcoin or other coins if he/she reveals the person's privacy online, so you should be very cautious about what you reveal to people online.

6. Phishing: phishing is another method used to defraud people of their money. They may send you an email and attach a website link to the email, instructing you to click the link, login, and fill out a form in which they will ask for sensitive information such as your username, password, and other sensitive information. So, in order to avoid this type of fraud, we must be very careful about the type of link you click and the information you enter.

7. Shelling: I believe that this is a type of scam that newcomers can easily fall victim to. This is the process of making heavy marketing on the internet and other places such as newspapers and many more. Shilling is done just to get people's attention, and I believe that coins that are not reliable are the most common coins that do this just to get people's attention, so if you are not mindful, you might think the project is really good and the team is hard working, and you won't know they are just trying to make heavy marketing just to get people's attention, and after investing in the type of coin, they just closedown with people's money. And there are still some good project that do shelling just make it popular so we just have to be very careful.

8: Fake Applications: There are a lot of scam applications on the internet now, and the difference between the real application and the fake one is very small. If you are not careful, you may end up downloading the wrong application and not knowing it. For example, I saw a wallet on the playstore, and I believe the project does not yet have an application, so I requested confirmation from the admin on Telegram which he told me they don't have a application yet, then I reported the app and have even reported two of those apps on Bitcointalk, so we must be very cautious about the type of application we download, and we must always ensure that it is from a reliable source.
17  Bitcoin / Legal / Countries Where Bitcoin Is legal or banned. on: September 17, 2021, 08:23:30 PM
Bitcoin, the first digital currency, was created in 2009 by Satoshi Nakamoto, whose identity is still unknown to this day. Bitcoin has a total quantity of 21 million and is mined, stored, and exchanged on the internet. Unlike other government-issued currencies, Bitcoin was designed to keep internet transaction costs as low as possible.
Because of bitcoin's nature and character, several nations have not embraced it because, for various reasons stated by their governments, they feel bitcoin may be used for various criminal actions by fraudsters to steal cash and by terrorists to obtain weapons, narcotics, and potentially dangerous substances.
The government does not have control over bitcoin since it is decentralized, therefore they do not want to embrace it like fiat money, which is controlled by the central bank and can still be used to destroy fiat currency through monetary policy.

Quote
Different countries are having their crypto regulations which are as follows;
- some countries bitcoin are completely ban
- Some countries use of bitcoin is legally restricted
- Some countries where Bitcoin are legal
- A country that Bitcoin is Official a Legal Tender
- Countries where Bitcoin are neither legal or ban.


If you are planning to buy bitcoin or any cryptocurrency in your county check it out if it is legal or illegal. Different countries have different crypto regulations. In some countries you having even cryptocurrency app can get you jailed so you have to be careful.

Countries Where Bitcoin is Official Legal Tender

- El Salvador. This is the only country that accept Bitcoin as legal tender. Before this action, it was recognized as the risk of the investor. Bitcoin investors should rejoice. Bitcoin as legal tender in any country is a huge event, one that deserves all the press it has been getting. El Salvador’s move could be a notable precedent in history if more and more countries begin to adopt Bitcoin in the future.



Countries where Bitcoin is legal.

- United States: Crypto is subject to tax laws in the United States. It is regulated if the sale of securities involves cryptocurrencies.
- Antigua and Barbuda. A bill was passed to protect exchanges and crypto users. Bitcoin could become legal tender soon in the country as you can use Bitcoin to pay for citizenship.
- Australia: Bitcoin and other cryptocurrencies have been legal in the country since 2017 and are subject to Capital Gains Tax.
- Barbados. Cryptocurrencies operate legally in Barbados. Barbados has its own digital currency, DCash, that has been active in 2021.
-Belgium: Cryptocurrencies are a ‘miscellaneous income tax’. Crypto is not considered legal tender, even though it is recognized as a possible ‘alternative to money’.
- Bulgaria: Licenses are not required to engage in crypto businesses and they are treated as income from sale of financial assets.
- Cayman Islands: New laws have been passed regulating cryptocurrencies. They have favorable tax laws for businesses, including cryptocurrency businesses.
- Chile: Cryptocurrencies are under the country’s money policies. There are protections for cryptocurrency exchanges in Chile.
- Croatia: Capital gains tax is only 10 %, and if you have held the funds for more than 2 years and traded with them, you are exempt from paying taxes
- Dominica: Planning to test out a cryptocurrency, DCash, crypto outlook is positive in the country. There was a project to hand out Bitcoin to the population but had been canceled.
- Estonia: Crypto is considered virtual currency and have digital value as a payment method, although it is not considered legal tender.
- Finland: Crypto is legal and regarded as virtual currency. The Financial Supervisory Authority is the authority on virtual currencies.
- Germany: Crypto assets are allowed to be bought, sold and held as long as they are from a licensed institution.
- Indonesia: Cryptocurrencies have been legal in Indonesia since 2019. It is regarded as a commodity when trading and not as a payment method.
- Italy: Regarded as a virtual currency, cryptocurrencies are subject to corporate and personal income tax.
- Ireland: Crypto is regarded as virtual currency and is taxed differently based on several scenarios.
- Japan: Crypto assets are under the ‘miscellaneous income’ category.
- Lithuania: Lithuania became one of the first countries to have a framework regarding cryptocurrencies and taxation, with earnings up to 2500 euro considered tax free.
- Malta: Malta is known for being the home to some of the biggest cryptocurrency exchanges like Binance and OKEx because of their open stance when it comes to crypto.
- Mauritius: Their regulations are under the category of Digital Asset.
- Marshall Islands: The SOV, or sovereign, is the legal currency of the Marshall Islands and it’s powered by blockchain.
- New Zealand: Cryptocurrencies are compared to gold and subject to taxes.
- Norway: Cryptocurrencies are considered assets and taxed.
- Philippines: Cryptocurrencies are in the security and investment contract categories and are subject to regulations by the SEC. Any financial services that are related to cryptocurrencies, like exchanges, are subject to the guidelines of the Philippines Central Bank.
- Serbia: Crypto is regarded as a digital asset for taxes. Crypto services need a license.
- South Korea: Crypto is legal and subject to anti-money laundering laws while being closely regulated by the government. Financial institutions are required to report cryptocurrency transactions.
- Sweden: Trade in Bitcoin is regarded as a financial service. Gains are taxed as business income.
- Switzerland: As early as 2017, crypto was being accepted as payment by the Commercial Register Office. Institutions need licenses in order to operate cryptocurrencies. There are extensive regulations implemented with a very positive outlook on crypto as a whole.
- Ukraine: Crypto is classified as property in the country. It is the growing destination to several crypto businesses.
- United Kingdom: Exchanges need to fit certain FCA requirements. Bitcoin is ‘private money.’
- United Arab Emirates: Considered a crypto-friendly country, UAE has its own Emirates Blockchain Strategy 2021, to move a majority of their transactions to blockchain and becoming a government powered by blockchain.
- Uzbekistan: Crypto is now legal in the country. Income gained from cryptocurrencies is not taxed and exchanges need specific requirements and licensing to be in operation.
- Venezuela: Having created its own petroleum-backed cryptocurrency in 2017, Venezuela seemed like a prime candidate for widespread crypto adoption. It was declared illegal in 2018 and efforts to make it legal again came about in January 2020. Mining, which had been illegal and those who did it were charged, have had their charges dismissed. Cryptocurrency activities are now legal in Venezuela.


Countries where Bitcoin is neither legal nor illegal

- Nigeria: In Nigeria banks and other financial agencies are not allowed to deal with cryptocurrency but bitcoin have not been targed legal or illegal in Nigeria.
- Albania: Warns citizens to use cryptocurrency responsibly.
- Afghanistan: The Ministry of Health plans to use blockchain to identify fraud in medicine. Still, crypto’s legal status is unclear.
-Angola: There is no legislation on it.
- Anguilla: They have policies regulating ICOs but make no mention of banning cryptocurrencies outright.
-Argentina: Specified that their Central Bank is the only one that can issue legal currency and emphasizes that citizens treat crypto responsibly.
- Belize: Belize has no crypto regulations to this date.
- British Virgin Islands: They have been regarded as ICO-friendly but nothing official on cryptocurrencies is available. The government is on standby with cryptocurrency policies, wanting to see how the crypto scene plays out first before further action.
-Brunei: There is an emphasis on cryptocurrency not being legal tender. The government urges caution.
-Cambodia: Although the government is developing its own currency backed by blockchain, cryptocurrencies are still a gray area legally, with the government warning of the potential risks involved with cryptocurrencies.
-Costa Rica: Cryptocurrencies are emphasized as the individual’s risk and responsibility and are not recognized as legal tender.
-Cuba: There is no overarching framework to operate crypto under the government. An exchange, however, has still propped up with no domestic backlash.
-Guatemala: Citizens are warned about the decentralized nature of cryptocurrency. It is not recognized as domestic or foreign tender.
- Haiti: No framework is given for crypto to operate on.
- India: Although there was a fear of a ban earlier in 2021, the government is going to create a board that will decide how to handle cryptocurrency.
- Honduras: Bitcoin and other cryptocurrencies are not backed by the country’s Central Bank. The individual is solely responsible for its risks.
- Kenya: The government has issued warnings of crypto’s volatile nature, lack of regulation, susceptibility to criminal activity and urges caution to the citizens who want to engage in it.
- Jamaica: The government urges caution when handling crypto.
- Latvia: Although crypto is subject to personal and corporate income tax, cryptocurrencies are still in a gray area legally in Latvia.
- Lesotho: Discouraging cryptocurrency practices, Lesotho does not allow the operation of cryptocurrencies that are unlicensed.
- Macau: The Monetary Authority of Macau discourages cryptocurrency participation.
- Malaysia: Bitcoin and other cryptocurrencies are not legal tender and the Malaysian government advises citizens to use them with caution. Using Bitcoin and cryptocurrency with transparency is heavily emphasized.
- Mexico: There is an emphasis for financial institutions to relay the risk of cryptocurrencies to citizens. It is not backed by the Central Bank and not considered legal currency.
- Moldova: The National Bank of Moldova suggests to tread cautiously.
- Montenegro: Crypto is regarded as the individual’s risk. Given their desire to join the European Union, and using the euro as legal tender, the government is treading cautiously with crypto.
- Pakistan: Although investigating cryptocurrencies for the potential of tax evasion and money laundering, Bitcoin and other cryptocurrencies are not recognized.
- Tajikistan: Although the Central Bank wants to make its own digital currency, it is one of the least cyber-secure places in the world, making crypto operate through means that are neither legal nor illegal.
- Tanzania: The Tanzanian shilling is the only one that is described as legal tender and crypto is legal but discouraged.
- Samoa: Crypto is not considered legal tender and is discouraged by the Central Bank for now because of its risky and speculative nature. Anyone wanting to conduct business with cryptocurrencies needs a business license. The Central Bank acknowledges the potential of blockchain.
- Zimbabwe: Cryptocurrencies are unregulated but the government cautions individuals about their use, citing its possibilities of terrorism financing and fraud.





Countries where Bitcoin is banned

- Algeria: Arguing that they are not backed by anything physical, Algeria has banned cryptocurrencies.
- Bolivia: The Central Bank has prohibited the use of cryptocurrencies because of their unregulated nature.
- Bangladesh: Citing possibilities for money laundering and being unauthorized by the Bangladesh bank, Bitcoin and other cryptocurrencies are illegal.
- Dominican Republic: Citing that they are not legal tender, cryptocurrencies are illegal in the Dominican Republic.
- Ghana: Although cryptocurrencies are regarded as illegal in Ghana, the Bank of Ghana sees blockchain’s potential and are assessing how to fit it into their financial structure.
- Nepal: Nepal’s central bank has banned Bitcoin because it is not a legal currency.
- The Republic of Macedonia: Citizens are warned that they cannot have crypto securities abroad. Crypto is still illegal.
- Quatar: Citing price volatility, possibility of financial crimes and lack of central government support, cryptocurrency activity is banned.
- Vanuatu: Several news outlets broke the story that Vanuatu accepted Bitcoin in exchange for citizenship. The country’s Citizenship Office, however, denied this. The country claims to accept only USD in exchange for citizenship.


Countries where use of Bitcoin is legally restricted

- Bahrain: You need a license in order to use crypto-asset services in Bahrain.
- China: China’s digital Yuan has issued on-chain wages, a first for the country. Although having researched cryptocurrencies for many years, China is treading cautiously in the market, listing a whole gamut of rules in terms of restricting Initial Coin Offerings (ICOs). China had the resources to operate with 70% of Bitcoin mining facilities, but that has been regulated by officials for environmental reasons.
- Hong Kong: A law may be enacted that might restrict crypto trading to individuals who have over $1 million in their investment portfolio. Other than this, Hong Kong emphasizes certain regulations when it comes to ICOs. Exchanges also need regulations in order to be enacted.
- Iran: Financial institutions are not permitted to handle cryptocurrencies.
- Kazakhstan: There are heavy cryptocurrency restrictions by the National Bank with exchanges and mining banned. A complete ban of cryptocurrency has been contemplated.
- Russia: Crypto is legal in Russia but is restricted. Banks and exchanges have to be registered by the Central Bank and crypto cannot be used as a payment method.
- Saudi Arabia: Once banned, Bitcoin is now legal in the country. Banks, however, are banned from participating.
- Turkey: Cryptocurrencies are not allowed as financial assets in banks. They also cannot be classified as payment tools.
- Vietnam: Although Bitcoin is still prohibited in trade relations by the State Bank, possession and trade in crypto is a tolerated occurrence for the average user. Research in the country is being done to further understand cryptocurrency and its implications.

Sources link: https://cryptonews.com/guides/countries-in-which-bitcoin-is-banned-or-legal.htm

Source: Daniel91

18  Other / Beginners & Help / How to calculate risk/reward ratio in a trade. on: September 09, 2021, 06:08:21 PM
Investing in cryptocurrencies entails a high amount of risk, yet risk may occasionally be rewarded if you are prepared to accept it. As a result, while considering a cryptocurrency purchase, you should constantly examine the risk-reward ratio as well as the possible profit and loss. It is also vital for those who hold, you cannot simply wake up and purchase any coin because others are buying, risk-reward is extremely important, even institutional investors do it, not just buy dip people usually advise.

If you wish to calculate your risk-reward ratio in a trade, you must first calculate the difference between the price at which you buy a coin and the price at which you want to exit the market if it goes sideways (stop lose).

How to Calculate the Risk-Reward Ratio: Assume you want to acquire coin A.

If your entry price is $100 and you set your stop-loss price at $80, your risk-reward ratio is as follows.
Your risk-to-reward ratio is : $100-$80 = $20.
Your trade has a risk of $20, which implies you are willing to lose $20 if volatility and market sell-off occurs.


To calculate the reward ratio, You only need your entry price and profit target.
For example, if your entry price is $100 and your profit target is $160, your profit reward will be $60.
Your reward ratio now becomes the subtraction of your profit target from the entry price, which is $160 - $100 = $60.

To determine your risk/reward in a trade, divide your profit ratio by your loss ratio.
Which is $60/$20 = 3
Therefore your risk-reward ratio is 3:1

So, if the risk/reward ratio is 3:1, the reward will be three times the magnitude of your loss. If you're ready to make a trade, you should consider the risk-reward ratio to determine whether the risk is worthwhile.
19  Economy / Trading Discussion / Some trading mistakes beginners make on: September 07, 2021, 07:57:31 AM
From my experience and from the research have done I believe some of this reasons might be among why newbies always lose in Cryptocurrency.

- Not doing analysis: Many people, especially newbies, have lost a lot of money in trading due to their inability to analyze the coin they are about to trade. You should know a lot about the coin and have done a lot of research on it, including all-time highs and lows, total supply, trading volume, and what the coin is used for, among other things. So, before buying a coin, do your research. Don't just jump into a trade without knowing anything about the coin.

- Revenge trading: I believe that most traders engage in this practice, which is quite harmful. Revenge trading is the process of buying back a coin because you may have sold it at a loss the first time you bought it, and you simply want to make a profit, so you decide to join the coin again without doing your research beforehand. Nobody is flawless, so if you are involved in a trade and you lose the trade, you must go on and not sit around waiting for retribution.

- Trading pump and dump coins: There are a lot of coins out there now that are mostly pump and dump. You should always avoid pump and dump coins when trading. If you're trading, make sure you're exchanging high-volume coins and stay away from low-volume coins.

- Not keeping a trading diary: As a trader, you should keep a well-documented trading diary that includes all of your previous experiences and the coins you've purchased previously. However, most newbies don't keep trading journals because they don't document their experience; instead, they simply wake up and decide to enter any coin they want and exit the market whenever they want. As a trader you should have a trading diary which will include the date which you bought a particular coin and the date you sold it, the price which you bought a particular coin and the price you sold it, in the trade if you make a profit or lose and why you make the profit or lost and many more.

- Not having a target when trading: When trading, you should have a target as soon as you enter a trade, and as soon as your target is met, I believe you should exit the market. Most people have lost money because they don't have a target. Some targets may be met, but greedy people will refuse to sell, which resulting in a loss.

- Trading futures too early: Beginners make this mistake frequently, and I made it myself. When trading futures, the risk is always high, and the reward is also high, so most newbies focus on the high reward and ignore the high risk and some might not even about the risk because they don't really know much about future trading. I feel that before you begin future trading, you should have mastered spot trading, else you risk losing money without earning any profit, or your loss could be more than your profit.

- Entering many trades at once: As a beginner in Cryptocurrency, you don't need to jump into many trades at once; instead, focus on one or very few trades that you believe you can monitor. If you have too many trades open, you may become confused and lose control of them; however, if you focus on just one trade, you can give it your full attention, whereas if you have too many open, your attention will be divided.

- Not using stop lose: Some people believe that using stop lose is a waste of time and money. While I understand that not everyone is interested in using stop lose, I believe that as a newbie, you should make stop lose a priority in all of your trades because it will help you cut or reduce your losses if things go wrong. However, as a skilled trader, you can trade without using a stop loss because not everyone prefers it.
20  Economy / Trading Discussion / Steps on how to swap a coin using meta mask for newbies on: August 30, 2021, 09:27:40 PM
Instructions how to Swap on trust wallet or meta mask.

With your PC and web browser:

Make sure you are having BNB in your wallet address which will be used as gas fees.

1) Click on “Connect Wallet” to connect your Trust or Metamask Wallet (Binance Smart Chain)
2) Give permission to your Wallet when asked to connect
3) Enter the Amount of coin you like to Swap or click “Max” for max amount
4) Click “Swap”
5) If Trust or Metamask wallet askes for confirmation “gas, exchange etc” confirm the transaction
May need to be confirmed 1-2 times

With your Cellular and Metamask Wallet:

1) Open and login to your Metamask Wallet (make sure you are on the Binance Smart Chain)
2) On the upper left corner push the three lines symbol “
3) In the drop down menu click Browser and enter the swap website of the coin
4) Click Connect Wallet
5) A window will open showing “Connect to this site? “  click Connect!
6) Enter the amount of coin you wish to swap or simply click on “MAX”
7) Click the “SWAP” button and wait for Metamask to open the confirmation window
Cool Metamask will display “Give this site permission to access your coin?” Click “Approve” for the swap and gas fee (Don’t worry if it shows an inaccurate number it just a suggestion)
9) Swap should be complete and your coin will show up in your wallet!

How to add a coin to your wallet:

1) Scroll down to the bottom on Metamask and click “ + ADD TOKENS “
2) Custom Token - in Token Address enter or copy/paste the coin contract address
0xB954785gn38FbE9447nf658i436
3) Enter Token Symbol: "ABC
4) Token of Precision (Decimal): 18
5) Click “Add Token”

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