Bitamp Bitcoin Web Wallet - Send & Receive Bitcoin Instantly!

[sabotag3x]

The wallet you were just showing was all for demonstration? -snip-

Yes. This is NOT my wallet, I do NOT use it and I do NOT know the seed.

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[bitampcom]

The wallet you were just showing was all for demonstration? -snip-

Yes. This is NOT my wallet, I do NOT use it and I do NOT know the seed.

Phew, good. Thanks for bringing that up, DarkStar_ and yes, guys. Never ever show your wallet in a screenshot with your private keys and/or seed, as pointed out, very easy to bruteforce when you only have a handful of words hidden. Good catch!

[OcTradism]

It seems that person has technical problems on his/her side but I think you can look at that thread Bitamp login seed problem, then see whether you can give him any advice to resolve this technical trouble.

I don't have such problems on my side with Bitamp wallet. A few others claimed no problem with Bitamp wallet as well.

[bitampcom]

It seems that person has technical problems on his/her side but I think you can look at that thread Bitamp login seed problem, then see whether you can give him any advice to resolve this technical trouble.

I don't have such problems on my side with Bitamp wallet. A few others claimed no problem with Bitamp wallet as well.

Thanks, yes, we also tested and found no issues so it could be a problem from the user side. We've reached out and asked them to see if they need any further assistance.

[bitampcom]

PSA: People keep asking us about crypto mining sites.

For us, the advice is always to assume they are scams. Why?

1. They make no mention of their mining pools and rewards/blocks found statistics.
2. They make a fixed payment of profits to you, which is impossible in mining because you only get rewards when you find blocks, which is a probability, not a given.
3. They cannot even show you their wallets and blockchain stats.
4. They cannot say where their sites are.

This description basically fits all mining sites claiming to mine and offer you packages to co-mine.

[OcTradism]

Be cautious of crypto mining investment projects that mostly are PONZI, MLM. In the past, cloud mining services used to be a scam trend.

MLM – a dangerous marketing strategy
Cloudmining 101 (ponzi risk assessment)

I agree with Bitamp that if mining service claims to pay a fix profit rate despite of how the crypto market is, it is a likely scam project. In crypto, volatility is high, for bitcoin and even higher for altcoins so companies will take all high risks to their sides if they keep promises to pay a fixed profit amount for investors. It is not realistic in terms of company risk-cost-benefit management and in financial aspect generally.

[bitampcom]

Be cautious of crypto mining investment projects that mostly are PONZI, MLM. In the past, cloud mining services used to be a scam trend.

MLM – a dangerous marketing strategy
Cloudmining 101 (ponzi risk assessment)

I agree with Bitamp that if mining service claims to pay a fix profit rate despite of how the crypto market is, it is a likely scam project. In crypto, volatility is high, for bitcoin and even higher for altcoins so companies will take all high risks to their sides if they keep promises to pay a fixed profit amount for investors. It is not realistic in terms of company risk-cost-benefit management and in financial aspect generally.

I hate to say it, but there probably isn't any sort of legitimate crypto mining project. If you want in, you have to do it on your own, there's really no viable co-mining opportunity out there. I thought I'd just like to mention it because we get asked a lot.

Most don't even pay out to your own wallet anymore, it's just accumulations in their own accounts.

[bitampcom]

Q: How can one be able to track a Bitcoin wallet or know the name of the person involved?

A: Any blockchain explorer should be able to tell you the wallet transactions. But until you yourself peg an identity to the wallet, you can’t know for sure who the person involved is… though there are also known wallets already marked by many explorers. These are mainly exchanges or even services that have already publicly marked wallets as belonging to them (and signing from them to prove ownership).

Anything anyone else would like to add?

[bitampcom]

No need to frown on Bitcoin users who only want to use their btc on a phone or iPad right guys? I actually do use a mobile device just for my personal hot wallet (never holding more than $50 or so at any given time). It's Bitamp, so just a web wallet. spend and receive on the go. I totally get why people would do stuff on an ipad if it's just casual.

[bitampcom]

Bitcoin use case: crowdfunding

If you want to be successful on your crowdfunding campaign on gofundme or indiegogo, then you want to prepare a media kit that tells people how to fund! And especially if you want to tap into crypto users (who are a growing portion of crowdfunders, by the way), then you want to even prepare a small part of your media kit targeting people who want to fund it with crypto, or even for those who can only use crypto because they can’t access any of the other payment methods.

That bit should include some guidance on where to safely buy and store Bitcoin (especially to tell them to use wallets like Electrum or Bitamp for safety).

[OcTradism]

That bit should include some guidance on where to safely buy and store Bitcoin (especially to tell them to use wallets like Electrum or Bitamp for safety).

For wallet softwares, people have to verify (they should) wallets. How to Safely Download and Verify Electrum.

Get wallets from official websites then verify it because risks of attacks and compromises on website. Officially visit websites & download apps, not fake ones.. A wallet is downloaded from official website is not always a real wallet.

[bitampcom]

That bit should include some guidance on where to safely buy and store Bitcoin (especially to tell them to use wallets like Electrum or Bitamp for safety).

For wallet softwares, people have to verify (they should) wallets. How to Safely Download and Verify Electrum.

Get wallets from official websites then verify it because risks of attacks and compromises on website. Officially visit websites & download apps, not fake ones.. A wallet is downloaded from official website is not always a real wallet.

Great point to remind everyone. Always self verify, because especially with big brand names, there are plenty of malicious software out there pretending to be the actual one. A lot of people get hacked that way.

[bitampcom]

Expensive to mine Bitcoin. Bug or feature, someone asks well for us it's clear it’s a feature. If it’s expensive and consumes a lot of energy to secure, this means it’s really costly to attack — so much so in fact that it is economically unviable for any entity right now to successfull crack Bitcoin, even if it had the resources, it would never recover from the attack.

[OcTradism]

Expensive to mine Bitcoin. Bug or feature, someone asks well for us it's clear it’s a feature. If it’s expensive and consumes a lot of energy to secure, this means it’s really costly to attack — so much so in fact that it is economically unviable for any entity right now to successfull crack Bitcoin, even if it had the resources, it would never recover from the attack.

It is expensive cost: $493083 for 1-hour attack. Crypto51.app provides that attack cost on Bitcoin network. They use network hashrate, Nicehash cost (1 hour) as inputs to estimate that cost and their estimate can be not totally correct.

https://www.crypto51.app/coins/BTC.html

[bitampcom]

Someone was asking us if we would recommend beginners to start buying Bitcoin from non-custodial platforms like Localcryptos hodlhodl etc.

We think... probably not. People make enough mistakes as it is with regular exchanges and marketplaces, I think it's bad mistakes waiting to happen.

What I'd suggest is always get people to get as comfortable as possible first with self-custodial services. Start with a simple web wallet like Bitamp, move to Electrum, then try multi-sig, before going to Bisq and the like.

[Coin_trader]

Someone was asking us if we would recommend beginners to start buying Bitcoin from non-custodial platforms like Localcryptos hodlhodl etc.

We think... probably not. People make enough mistakes as it is with regular exchanges and marketplaces, I think it's bad mistakes waiting to happen.

What I'd suggest is always get people to get as comfortable as possible first with self-custodial services. Start with a simple web wallet like Bitamp, move to Electrum, then try multi-sig, before going to Bisq and the like.

You have a point. The downside of using non-custodial platform for a newbie was it has a lot of limitation such as limited amount of fiat you can exchange, limited to ETH token and some exhibit a more complicated user experience unlike custodial wallet that was easy to use, Just sign up and verify then ready to go with a high deposit limit plus you are free to trade on any pair that you like.

[bitampcom]

You have a point. The downside of using non-custodial platform for a newbie was it has a lot of limitation such as limited amount of fiat you can exchange, limited to ETH token and some exhibit a more complicated user experience unlike custodial wallet that was easy to use, Just sign up and verify then ready to go with a high deposit limit plus you are free to trade on any pair that you like.

Yeah, it's really very difficult for most users, confusing and in fact, has very little in the way of giving a newbie reassurance (which is what centralized exchanges are really good at doing haha).

Like you said, most CEXs give you the whole sky after you verify.

[OcTradism]

Like you said, most CEXs give you the whole sky after you verify.

There are good DEX, OTC, P2P to choose. without mandatory KYC verifications like https://hodlhodl.com/ or https://bisq.network/

[BIG LIST] Buy/Sell Crypto (OTC, P2P, DEXs, CEXs, NO-KYC, ATMs, etc.)

[bitampcom]

Like you said, most CEXs give you the whole sky after you verify.

There are good DEX, OTC, P2P to choose. without mandatory KYC verifications like https://hodlhodl.com/ or https://bisq.network/

[BIG LIST] Buy/Sell Crypto (OTC, P2P, DEXs, CEXs, NO-KYC, ATMs, etc.)

Great list to start of with and just make sure you practice a lot with wallets like Bitamp before you go into any of these sites. What's your personal favorite one to buy Bitcoin with? We like checking on bisq there are good deals from time to time:)

[bitampcom]

Should banks be interested in cryptocurrency?

Absolutely. The past few decades have shown that banks are crashing and some literally shut down because of the mountain of debt accumulated that it just cannot sustain. Using blockchain-based crypto means a transparent ledger of accounting that you can’t hide or manipulate. The banking sector needs a revival and it knows this. Don’t be afraid of the future and embrace it. It can only be good for banking.