The way you are storing crypto currently may feel safe for you, but it’s not safe enough. There is an entire army of hackers around the globe looking for ways to hack into people’s online digital wallets to steal their digital currency. There are numerous stories of people getting massive amounts of crypto stolen while they sleep, only to wake up in the morning to check their account and see it’s all gone. 

If you aren’t interested in products you can use to protect your investment, you should be. There are plenty of cryptocurrency accessories out there you can use to help you with this. The following are five of the best cryptocurrency accessories to make your transactions as secure as possible. 

1. Ledger NanoX Bluetooth Wallet – This is one of the most simple devices in this category. It looks like a small external hard drive, but can also connect to your computer via Bluetooth. It’s a great way to take your crypto holdings offline, so no one can access them by hacking your account. This is an affordable and effective starter product that is great even for those with small holdings in crypto. 

2. Stronghold – Hold is a term coined from the internet that means “hold”. This device that uses that phrase will let you just do that by storing all of your passwords offline, so you can access your accounts no matter where you are. There are over 300 letter tiles where you can store your passwords, preventing anyone but you from getting into your crypto accounts. 

3. KeepKey Bitcoin Wallet – The KeepKey Bitcoin Wallet is great because of the digital display that displays the transaction for the user. This means you don’t have to have it connected to a computer to interface with it. The wallet is also a great place to store your keys and holdings. There is even a confirmation button on the actual wallet, so you can manually approve transactions without having to use another device. 

4. OPOLO High-Security Wallet – This wallet is the ideal choice for someone who wants safety and portability. It has one of the highest-rated security chips on the market. It’s also very slim and portable, so you can take your crypto with you wherever you go. There is also a clear 3.2-inch touchscreen display that allows you to interface with it.

5. HooFoo Bitcoin Wallet – If the size is your biggest concern, the HooFoo Bitcoin wallet is the perfect choice for you. The coin-sized device has Bluetooth 4.0 capability. It can connect to either your phone or your computer. Included with the device is a wireless charger. 

If you are concerned with protecting your digital assets as effectively as possible, one of these five accessories can be a great asset to you. 

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1. Bitcoin has a Finite Amount

There are 21 total million bitcoins that can ever be produced and, due to this finite quantity, if demand for bitcoins increases and the price goes up, so will the demand. It’s not clear if all 21 million bitcoins have been extracted until now, but once they’re mined, they’re done. Each bitcoin could be divided into eight decimal points and even potentially smaller units if the need arises in the future. Furthermore, bitcoin transactions can be performed in smaller units referred to as “bits,” and there are 1 million bits in a single bitcoin. At present, the value of all bitcoins is greater than $20 billion.

2. Bitcoin is a form of a Currency

Ever wondered what is Bitcoin? Well, it is an electronic currency that utilizes encryption techniques to manage its creation and ensure secure transactions without the central bank. The encryption methods make it extremely difficult to create counterfeit forms of any kind. You can consider bitcoin is pretty much like the cash for the entire internet. Users can buy bitcoins or fractions of bitcoins through online exchanges or from a broker and keep them in a digital wallet. Many stores accept bitcoin, and billions of dollars’ worth of bitcoins is traded daily across the globe.

3. Bitcoin has a Fair Share of Critics and Fans

Billionaire Warren Buffett has been a vocal opponent of bitcoin. He blasted bitcoin in the course of a 2014 CNBC interview in which he advised users to “stay away from it.” He even told viewers that Bitcoin is a mirage. Jamie Dimon, CEO of JPMorgan Chase, is also a bitcoin critic and previously described bitcoin as “a fraud.”

Yet, despite the negative comments, there are still plenty of supporters. A few notable investors include Tyler and Cameron Winklevoss and the billionaire venture capitalist Tim Draper. In fact, Richard Branson has spoken positively about cryptocurrency. He recently made a bet on the start-up of a bitcoin blockchain wallet which is basically software that can store and manage bitcoin cryptocurrency.

4. Bitcoin Will be Trading on Three Major Exchanges

The U.S. CFTC announced it would permit bitcoin-related futures trade at three notable exchanges: the Chicago Mercantile Exchange Inc. (CME), CBOE Futures Exchange (CFE), and the Cantor Exchange (Cantor). This means that investors will be able to place bets on bitcoin without actually purchasing it.

According to J.Christopher Giancarlo, the chairman of CFTC, bitcoin, as a virtual currency, is a commodity unlike any the exchange or commission has dealt with in the past. He even cautioned the investors that they should be aware of the high level of volatility and risk associated with trading bitcoin in any of the approved mediums.

5. A Mysterious Creator

In 2009, a prototype was made public on a cryptography mailing list under the name of Satoshi Nakamoto.  Bitcoin was described as a peer-to-peer electronic cash system in this document. The initial 50 bitcoins were mined on the 3rd of January, 2009, by Nakamoto, who is said to have quit the project in 2010. The community grew, and later other developers joined the project. However, since the start of bitcoin there has been a constant dispute about the identity of Nakamoto. There is no way to determine whom or who Nakamoto is; however, some have attempted that eventually failed.

Now that you’re what Bitcoin is, you can consider starting your investment journey with this cryptocurrency.

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Understand what role demand plays in the stability and liquidity of cryptocurrency to make wise investment decisions. Beware of the crypto’s supply limit before putting your money into it, and read comprehensively on any cryptocurrency type you intend to invest in. Here are the reasons to invest in cryptocurrency.

1. Portfolio diversification

Besides helping you maximize returns on investment, diversifying your portfolio enables you to limit investment risks. Although cryptocurrencies are highly volatile and risky assets, unlike bonds and stocks, they have the potential for generous rewards if you research and choose the right cryptos to invest in. Consider buying your coins from trusted dealers such as netcoins.ca to flesh out your portfolio by exposing it to an additional class of assets.

2. To potentially earn high returns

Most cryptocurrencies have an excellent performance history, and given their growing assets, some coins could have great potential to do better in the future. This is especially if the cryptocurrencies receive mainstream acceptance and merchants start accepting them as payment options. Extensive research will help you find the cryptocurrency with the potential to earn you significant returns over time.

3. For inflation protection

The main benefit of owning assets is that they increase in value over time, and cryptos store value to protect against inflation. While buying items such as gold is a traditional way to protect against inflation, cryptos are the new generation way to protect against hyperinflation.

4. Easy transactions

You can make crypto transactions easily, at a lower price, and in a more private way than other transactions. You don’t always need a bank account to use crypto coins. You can receive and send various cryptos with a mobile app, exchange, or hardware wallets. Some cryptocurrency types such as Ethereum, Bitcoin, or Litecoin can be bought from a Bitcoin ATM using cash and then sent to your phone.

5. Short- and long-term trading options

Cryptocurrency allows you to invest in the short or long term. Although short-term investments may earn you high returns on investments, the risk is usually much higher. While fluctuations and dips may not affect your profit much over the long term, revenue growth may not be as significant. Weigh the pros and cons of investing in both the long and short term, then make your choice.

6. Decentralization

Although cryptocurrency may have its highs and lows, it isn’t tied down to political organizations or financial institutions. This means you don’t have to worry about recessions or fiscal policies affecting your crypto coins. The cryptocurrency’s decentralized nature makes it challenging to track your money after spending it.

7. Short processing time

Blockchain technology ensures peer-to-peer crypto transactions, meaning you won’t have financial institutions and long waiting times getting in the way of receiving and sending money. Most processing times take seconds.

Endnote

Cryptocurrency is a great place to invest if you’re looking for a fast-growing market. Consider investing in crypto to enjoy the above benefits.   

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However, if you don’t understand the market, then you are at risk of losing your money. That is why having a guide to choosing the right cryptocurrency trading platform is very important. This applies even if you want to day trade or buy and hold for more than a year; we all know that it’s not good enough to invest in something blindly!

Both novice and experienced traders often use exchanges to buy and sell cryptocurrencies. This is because these platforms provide them with a central place where they can interact, as well as compare prices and trade their coins.

Here are key considerations that every trader should take into account when choosing an exchange:

Safety & Security

The number one rule of cryptocurrency trading is “Never leave your money on an exchange!” This is because you never know if the trading platform can be hacked, or even shut down by authorities. That is why a lot of people use cryptocurrency wallets to store their coins for a long time, just like how they would use a regular wallet.

Exchange Rate & Fees

As we all know, cryptocurrency prices fluctuate. There are many online services that offer information on what the value of various coins is at any given time, but these numbers can change fast.

So you should take a look at whether your chosen exchange offers price tracking features, including charts and historical data. This will help you make an informed decision when buying or selling cryptocurrencies. The bitql review indicates the fair fees and rates charged by the platform.

Speed

Since cryptocurrency is still very young, we cannot expect trading platforms to have the same speed as those used for traditional currencies. Nevertheless, you should look at how quickly your chosen exchange processes your orders and executes trades.

Customer Support

Lastly, if you have any issues with an exchange (especially complicated ones) you should be able to get help from the customer service team very quickly. Look at how long it takes them to reply; this will show you how invested they are in resolving your issues.

We’ve talked about the top things that people should look for when choosing an exchange. To recap, these are:

Safety & Security Exchange Rate & Fees Speed Customer Support

Coinbase is one of the most popular cryptocurrency platforms in existence today; it was founded in 2012 and gained over 1 million users by 2013. Users can buy, sell, send and receive cryptocurrencies like Bitcoin (BTC) and Ether (ETH). Coinbase supports Ethereum Classic (ETC), so you can also use this platform if you want to trade ETC. 

The nice thing about Coinbase is that it ensures all the coins that are kept on its servers, so even if someone hacks into them or they collapse, your coins will be safe. Furthermore, Coinbase does not charge users any transaction fees for sending and receiving digital currencies between wallets.

Conclusion

The choice of your crypto trading platform is ultimately up to you, and it depends on what you want to use your cryptocurrencies for. It is okay if you find a platform that only offers one service; the important thing is that you will be able to make money from cryptocurrencies (even if they’re worthless).

With this guide, you will be able to make an informed decision on which crypto trading platform you should use. 

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