ILCoin (ILC)

[ILCoinDev]

HOW TO AVOID GETTING SCAMMED

So, you’ve found a decent cryptocurrency you are sure you want to invest your money into. Now, let’s discuss a few ways to keep that investment secure. You can never fully trust online security with your money. We are living in a technological age. Perhaps the security is near flawless, but even your own computer can betray you. Anything from cookies, keyloggers, or maybe even an unintentional click could land you in some hot water. For purposes of this article, let’s assume your computer is safe to use (no malware to steal your data and you have a good firewall/antivirus).

The thing you must always remember is this: It can be convenient, or it can be secure. Convenience and security are complete opposites. If it is easy for you, it is going to be easy for anyone who wants to steal FROM you. It may be convenient to store all of your passwords in one file stored on your desktop, but it will also be easy to retrieve all of your passwords if a hacker put forth the effort to get just a single file. Remember, convenience is not secure.

The first step to financial security is always going to be Two-Factor Authentication (2FA). I know. It’s an absolute pain… but a necessary pain. 2FA is when you have a second, completely unrelated, account somewhere else that is tethered to your primary account for confirmation of changes made. The next article will be written regarding 2FA.

Another piece of sound advice: Don’t keep money on exchanges. People are losing millions and millions keeping money on exchanges that become hacked. I can hear the rebuttal now. “But if I don’t keep the money on the exchange, I have to pay the transaction fee twice and wait twice as long to make a transaction because of the mining confirmations.” Convenience is not secure. Keep a small amount you could potentially stand to lose on the exchange. The majority of your money should be kept on a wallet that is offline, or at the very least, not related to the any exchange; such as our ILCoin web wallet. Send increments to the exchange’s wallet when you need to recharge it a little.

Never share your private key. I know this one sounds obvious, but you’d be surprised how much this occurs. I wouldn’t even give a back up of my private key to my wife. Why, you ask? You know the importance of that key, but she may not. Also, keep your finances stored on different devices within different wallets. “But then I can’t see how much I have in total. Or I will have to make many different transactions from many different wallets on many different devices to make different purchases!” Convenience is not secure.

Use a hardware wallet or another cold storage option. Keeping your money connected to the internet at all times keeps your money connected to potential hackers at all times. If your money can not be transferred electronically without first connecting a device physically to your computer, you are eliminating a huge possibility for anyone to steal your hard-earned assets. Only someone there in the flesh could be a potential threat. This is where you store your investments; the cryptocurrency you plan on saving and watching grow.

One more piece of advice: Don’t click on Google Ads. Google Ads are usually the first search result at the top of the list in a search utilizing the Google Search Engine. They are paid ads that are disguised as search results ensuring they will appear at the beginning. Most people believe that the search results are in order of relevance, and the ads take advantage of this fact. Convenience is not secure. Double-check the URL of any search result before accessing the web site. It could be linked to a site that installs malware just by visiting the domain. In fact, don’t click on anything that you aren’t specifically using or aren’t sure where it goes to. This includes banner ads, search results, and other kinds of re-direct hypertext links.

[nguyenngocnam]

Why do not I see anyone in the comment?

[ILCoinDev]

Why do not I see anyone in the comment?

Do you mean like alex35rus35 above who asked:

what for a coin ilcoin test?

[ILCoinDev]

2FA

Two-factor authentication (2FA) is when you have a second, completely unrelated account somewhere else that is tethered to your primary account for confirmation of changes made.

Let’s look at an example:

Email 1 is used to create an exchange account. Email 2 is set for 2FA. Every time a change is made to the exchange account email 1 was used for, a message is sent to email 2 requiring extra action to confirm the change was intentional. Changes could be sending coins, purchasing coins, logging in, logging in from another IP address, or a variety of other reasons; usually 2FA is configurable.

The trick to making a secure 2FA account is to combine 3 different elements: knowledge (something only you know), possession (something only you have), and inheritance (something only you are). A smartphone (possession) that unlocks using your fingerprint (inheritance) and utilizes an application that gives a random 2FA code (knowledge only the person observing the phone will have) can combine all three of these factors.

Practically any type of account can be tethered to the account requiring two-factor authentication. In fact, the further derived the secondary confirmation account is from resembling the primary account, the better. It is more secure to have a mobile application for 2FA if the primary account is connected to an email and vice versa.

However, there is a dark side to this security. If you have been reading all of the other posts, by now you will know that convenience is not secure. Be forewarned that making an account too secure may cause it to become an inconvenience. You should investigate the recovery process for a 2FA-secured account before doing business with the exchange. If you lose your smartphone (or it becomes otherwise inaccessible through theft, destruction, or other means) and the only 2FA tether is by means of an application within said device, you may have a difficult time convincing the exchange that you are the owner of those cryptos contained within their exchange.

[ILCoinDev]

DIFFERENCE BETWEEN A CRYPTOCURRENCY AND A TOKEN

If you go to a state fair, you use currency to buy tokens to ride the rides. Those tokens are only good for attractions at that particular fair and are non-transferable for the fair in the next state. They are not worth anything at the nearby theme park nor are they valid at the subway. They serve one purpose and one purpose only at a single location.

In most situations, you cannot even return the tokens you did not use for a refund of your money. You could, however, sell the tokens you did not use to another buyer. The buyer should be well aware that they are only worth something at that event and their value is not translatable to anything else outside that location.

Using this example, we can see that the currency has value even without the token; it may be used in many places. The token only has value in a specific place, but that value is totally dependent on the value of the local currency. With this in mind, you can easily see the difference between cryptocurrency and tokens. Many times, even on cryptocurrency exchange applications, the difference erased and the terms are used interchangeably.

[ArchitektoR]

sourcecode ? or working linux/win/mac wallet?

[ILCoinDev]

sourcecode ? or working linux/win/mac wallet?

The ILCoin Source Code is private since mining is controlled. A new Windows QT wallet is in the final stages of development.

[ILCoinDev]

YOU CAN MINE BITCOIN ON YOUR LAPTOP

Or, any other cryptocurrency you want to mine…

Of course, your mining results will always depend on the variables such as internet connectivity restrictions, power consumption and local costs, the laptop you are using for mining, the mining software, the value of the coin, the mining difficulty, ect… Having said that, it is completely reasonable to mine about ten cents (USD) of Bitcoin in 24 hrs using a mid-ranged laptop and a downloadable program such as NiceHash.

The bad news comes in the form of maintenance costs. Electricity costs and computer degradation are the biggest of these costs. Not to mention the computer will need to perform that task 24/7 and thus will be a dedicated computer for that task…

There is, however, an easier way. Cloud mining using a service that provides its own specially-tuned mining processors and cloud mining software is a potentially rewarding solution. Cloud mining eliminates many of the negative aspects of mining cryptocurrency while providing a viable way of investing money into mining coins; particularly cryptocurrencies that have a large per-coin value. Of course, you will have to do your homework before you begin trusting your hard-earned money with potential scammers or Ponzi schemes. Investigate the company and find out what people are saying about them.

[ArchitektoR]

sourcecode ? or working linux/win/mac wallet?

The ILCoin Source Code is private since mining is controlled. A new Windows QT wallet is in the final stages of development.

so how we can control it's not another one premined scam? private mining was never good decision... neither was a closed source

[kurdun]

Constant updates of the project source code are not enough to be unique among the set of identical altcoins

[ILCoinDev]

Constant updates of the project source code are not enough to be unique among the set of identical altcoins

This observation is very true.

Yet, perhaps you could further explain why this comment belongs on the ILCoin forum and not on the a forum about general altcoin observations?

If it is your sincerest belief that merely altering a source code is our only achievement, then I invite you to read a bit more about ILCoin and its ongoing developments.

[ILCoinDev]

Do you know about the new ILCoin/Bitcoin wallet? Check it out! We made it compatible for both cryptocurrencies in anticipation of our upcoming Smart Contract release later this year!

https://play.google.com/store/apps/details?id=ilcbtc.wallet

[ILCoinDev]

ILCoin is on the prowl! After returning from vacations, we applied to many, many exchanges. Unfortunately, only one exchange gave us an opportunity: Freiexchange. However, after a rough start at the beginning of this year, we waited until the waters calmed for a while before jumping back in. Now we are getting another round of applications filled in and crossing our fingers for positive responses! We are hoping, with time, the exchanges will forgive ILCoin for its less-than-perfect past. If we get accepted to a new exchange, you will be sure to hear about it! Thanks Freiexchange for giving us a chance!

[ILCoinDev]

Great news! Graviex Exchange and ILCoin are now partnered up for business. You can now trade ILCoin at https://graviex.net/. Graviex has its own cryptocurrency called Gravio. You can learn more about Gravio at https://www.gravio.net/. The GRAVIEX Exchange is a part of the GRAVIO Ecosystem. Low fees, fast withdraws, and high security.

Order price step = 0.1sat (0.00000000'1)

We hope to see you on the exchange!

[ILCoinDev]

Presenting, Crex24 Exchange at https://crex24.com/. Another great trading opportunity for the ILCoin community! We invite ILCoin users to begin trading on our new affiliate exchange, Crex24! Raise the market by participating in some exchanges between ILCoin and either Dollars (USD), Bitcoin (BTC), or Ethereum (ETH). We'll see you there on the trading floor!

https://crex24.com/exchange/ILC-BTC
https://crex24.com/exchange/ILC-ETH
https://crex24.com/exchange/ILC-USD

[ILCoinDev]

Remember that for the price of ILCoin, or any cryptocurrency rise, it is necessary that its users trade with it. Because, if there is no movement, the price tends to go down.

We have just made agreements with 2 new Exchange sites (Graviex / Crex24), and in order to be in new and bigger ones it is necessary to maintain a high exchange volume.

[ILCoinDev]

IMPORTANT C-CEX UPDATE:

C-Cex has decided that ILCoin is no longer welcome to be exchanged on the site. IT IS VERY IMPORTANT YOU REMOVE ANY ILCoin YOU MAY HAVE STORED ON THIS EXCHANGE!

C-Cex staff members have been on holiday for 4 months of the past 12 months. We have had issues with C-Cex but have been unable to communicate with them due to their absence. Even their support was unavailable for a very long time which is apparent by the full support cue awaiting anyone attempting to open a ticket. We were met with the message "Our support ticket queue is full. Please, come back in few hours" just earlier today.

ILCoin will be de-listed this Sunday, 9 of September, 2018. We apologise for the short notice, however we just learned of this ourselves.

[ILCoinDev]

C-Cex Status Update

A month has passed and C-Cex still holds and trades ILCoin.  

Who knows what is going on internally with that exchange. Regardless of ILCoin's fate on C-Cex, we have already set our sights on new exchanges and the application process has already begun.

[ILCoinDev]

Starting tomorrow, we will be listed on one of the best exchange sites in China.

To our loyal community: We want to share some great news with you! As you requested, beginning tomorrow (October 10th at 10:00 GMT +8) we will be listed in one of the TOP exchange sites of the crypto market. FUBT (https://www.fubt.top) is placed 14th in trading volume worldwide according to https://bullseye.io/exchanges.

Help us make ILCoin even better! Start trading in their platform tomorrow!

[tranthaiky]

hi Dev,
Can you tell me why most of traffic (93%) to your website (https://ilcoincrypto.com) is come from Vietnam, not other country?
Thanks.