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Bank for cryptocurrency exchange account that allow crypto transactions.

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Here are some of the world famous Bank for cryptocurrency Exchange, which has collaborated with the crypto environment for seamless functionalities.

Understanding each Bank for cryptocurrency exchange globally.

Introduction

The government, as well as Centralised Financial Institutions, are on a high alert since the creation and implementation of Bitcoin in 2009, as they have completely disrupted the traditional Fiat economy which is the lifeline of the Centralised banks and governments. The cryptocurrencies have absolutely transformed the way the current generation transact money from one part of the world to another. The underlying Technology has intensely, incentivized the system by incorporating security and trust in the system automatically. Also one of the key cost-cutting paradigms was the elimination of the third party intermediary for the transfer of funds. Hence bank for cryptocurrency exchange wasn’t supported.

 

Why is a Bank for cryptocurrency exchange praised?

Due to the decentralized nature of cryptocurrencies, the citizens from all over the world have shown a keen interest in them and hence the centralized Financial Institutions are on persistent efforts to control it. Nevertheless, there are certain governments which are optimistic about the technology and have incorporated them by legally allowing the banks in the country to integrate with the cryptocurrency exchanges or the Crypto economy, so as to facilitate the ease of transfer of money between them. This would indirectly assist in the development of cryptocurrency, as well as the Blockchain Technology.

Below are some of the world famous Bank for cryptocurrency Exchange, which has collaborated with the crypto environment for seamless functionalities.

1. Fidor Bank

The Fidor Bank for cryptocurrency Exchange was Founded in 2003, the German-based bank has initiated a collaboration with the cryptocurrency exchange, Kraken, in order to integrate the fund transfer mechanism between them. The bank aims to deliver a world-class digital banking service to its customers.  It is one of the pioneers to adopt the Blockchain Technology and is also incorporating the Ethereum protocol to redefine its working methodology.

 

2. Toronto Dominion Bank

Headquartered in Toronto, the bank is striving hard for the Blockchain collaboration with it, as it completely has deciphered its actual use case. The bank for cryptocurrency exchange allows for all the credit card transactions but there is a condition that all the transactions must be undertaken through Mastercard, Visa, Visa debit, or Interac. Nevertheless, the bank is also working on attributes to improve even this.  

 

3. Simple bank

The United States-based Bank allows for all the cryptocurrency transactions through integration with most of the cryptocurrency exchanges. It is noteworthy to mention, that the bank even allows for the direct buying or selling of Bitcoin. All such attributes were able to be incorporated, as it is a subsidiary of the multinational Spanish banking group, BBVA (Banco Bilbao Vizcaya Argentaria).

 

4. Worldcore

The financial institution from the Czech Republic offers for the cryptocurrency integration by each and every individual who owns a multi-currency account in the bank. They can be made accessible through the debit cards or virtual cards. It provides an amazing integration with the cryptocurrencies. One of the best evidence is its PayAnyCard which can be filled with any number of Altcoins, which can then be used to spend them at various outlets.

 

5. Bankera

The United Kingdom-based Bank is nothing but a functional arm of SpectroCoin. The fully functional Bank offers each and every service of the traditional Bank along with added service due to its cryptocurrency collaboration. It even sanctions loans to its customers by considering Altcoins as a form of collateral.

 

6. USAA

The United States-based bank has a deep connection with the cryptocurrency exchange, Coinbase, as it allows its users to check their Bitcoin balances on Coinbase, through their mobile banking app. It is also considered as one of the earliest banks to have been invested in cryptocurrency exchanges.   

 

7. Goldman Sachs

Goldman Sachs is the most famous and the next bank for cryptocurrency exchange, which would be providing a trading platform in order to initiate Altcoin trading soon this year (2018).

 

Bank without collaboration with cryptocurrencies

While each one of the above-mentioned bank for cryptocurrency exchange is highly deterministic towards the development of the crypto community, there are other banks too which are suppressed to have any kind of relationship with the cryptocurrencies. Bank of America, Lloyds Bank, JP Morgan Chase, Bank of Scotland, Citigroup, Halifax UK, Wells Fargo, Commonwealth Bank of Australia, etc comes user this spectrum. However, the days are not far when even they would get converted into a bank for cryptocurrency exchange once they realize it’s stature.

#Blockchain

Ethereum Name Service. How to buy Ethereum Domains Explained

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Using Ethereum Name Service, One can send Ether to anyone by using their Ethereum name instead of the complex and ambiguous hexadecimal address.

How to avail an Ethereum name through the Ethereum Name Service.

Opening remarks

The blockchain technology has developed cryptocurrencies along with many and other industrial domains. The cryptocurrencies are secured with the amazing cryptographic principles, which in turn contains sets of confusing strings that need to be remembered in the form of public or private keys. Therefore, recalling those public addresses each and every time, while initiating any kind of transaction is highly challenging. Especially, in the case of the Ethereum network, as there are provisions available even for the Decentralized Applications and Smart Contracts. The complexities, in this case, are increased by a number of folds and therefore needs special attention. Intelligently, the experts are trying to attach domain names to each and every address through a decentralized initiative discussed below. Let’s understand Ethereum Name Service and its usage.

 

The Ethereum name service Dapp

Widely popular as Ethereum name service is the paradigm incorporated by the experts in order to eliminate the need of remembering long hexadecimal addresses. By utilizing the amazing functionalities provided by the service, one can send Ether to anyone across the world by using their Ethereum name instead of the complex and ambiguous hexadecimal address. For example instead of remembering the address, ‘0x4cbe5826c0480…’ one can easily replace it with ‘tonystark.eth’. This link establishment between two entities is nothing but Ethereum name service and one needs to buy Ethereum names for their respective addresses, as there might be a lot of competition for the same Ethereum name.

 

What is Ethereum name service actually?

ENS is nothing but an Ethereum based Decentralized applications which launched its main net in May 2017. The decentralized applications offer Ethereum name service which absolutely functions with the assistance of smart contracts.  In brief, the ENS, abbreviation of Ethereum name service, has similar goals to that of the Domain name service of the internet but is completely blockchain-based with a different set of capabilities and requirements.

 

Understanding the process of Ethereum name service

Series of steps must be followed by a cryptocurrency enthusiast, in order to obtain the Ethereum name for the wallet or Smart contract. Ethereum name service is obtained by the users through an auction process. The auction process applied, in this case, is a Vickrey auction process. It is nothing but a variant of sealed bid options where the bidders bid a certain amount on a particular Ethereum name without actually knowing the bid amount of other bidders. In this way, the users are open for an opportunity to bid and avail a precise value of the commodity. The steps to avail Ethereum name service is explained below.

1. The first step of the auction, the user bids a certain amount on an Ethereum name that he/she wishes to buy. This process triggers a three-day window time frame. The Other bidders within the community can bid their respective amount on a number of Ethereum names of their choice within this three day period. It is worth mentioning here that none of the bidders knows about each other, the amount, and the Ethereum names they are betting on. In simple words, the process is completely anonymous.

2. After the first step of obtaining an Ethereum name service is completed reveal period of 2 days is put forth before the bidders when they need to reveal their respective biddings. It is important to reveal their biddings and if they fail to do so, it would result in the complete loss of their amount.

3. After a waiting period of 2 days, the highest bid wins the competition and has to pay the second highest amount, and all the remaining bidders who had revealed their biddings would receive back their amount with a deducted fee of 0.5%. As the whole system is powered by Smart contracts, the funds of the winner are stored in a smart contract until he/she is under the control of that particular Ethereum name.

Interestingly, the winner can hold the Ethereum name under the control and when released back to the ecosystem can avail their complete amount refunded back.

Interfaces offering the Ethereum name service

In order to facilitate, the ease of using the Ethereum name service a number of initiatives have been proposed which can be approached to obtain Ethereum names. Some of the most popular ones which assist the users in utilizing the Ethereum name services are as follows.  

  1. registrar.ens.domains
  2. My Ether Wallet
  3. ETHTools’ ENS integration, etc

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#Blockchain

How to Smartly invest in Ethereum? Explained.

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There are a number of strategies that are applied by professionals in order to invest in Ethereum which would indirectly maximize the return on investment.

Comprehending best tactics to invest in Ethereum

Intro

The decentralized applications, as well as smart contracts, were some of the new functionalities that came into the picture with the initiation of Ethereum Blockchain. These features have opened up opportunities for many cryptocurrency enthusiasts, in order to make the best use of these applications for a better financial system. Although the cryptocurrency market is highly fluctuating in nature, the Investments are estimated to be rising as the time passes by. Invariably it is the investments in the cryptocurrency space itself which would assist the market in gaining maturity. But with keeping regulatory concerns in mind, one must be watchful with their investments based on the geographical location. Let’s see how to smartly invest in Ethereum.

Invest in Ethereum

The world’s second largest cryptocurrency coin, Ethereum has proven to be the most reliable option for the cryptocurrency investment for both the long as well as short-term purposes. The cryptocurrency project is fuelled by the visionary, Vitalik Buterin with an ambition of democratizing the development and sustainment of the decentralized form of apps through the smart contract functionalities. Therefore if one chooses to invest in ethereum then he or she is certainly betting on the decentralized cryptocurrency platform of the future.  

There are a number of strategies that are applied by the cryptocurrency professionals in order to invest in Ethereum which would indirectly maximize the return on investment. There are a number of methods available in the cryptocurrency space in order to invest in Ethereum, by buying them through the broker exchanges or peer to peer exchanges.

 

Broker exchanges to invest in Ethereum

A Broker exchange is a professional cryptocurrency marketplace where the users can effectively invest in ethereum bye buying Ethereum with their traditional Fiat currency. One of the most predominant broker exchange which is most commonly used by the Crypto community is Coinbase. It follows a series of seamless steps in order to invest in Ethereum.

The users need to register themselves with the exchange, verify the identity, deposit funds into their account through the traditional wire transfer method and finally, they would be enabled to buy Ethereum through these funds. Choosing this way to invest in Ethereum is highly preferred as the exchanges are highly experienced, reliable, as well as user-friendly in nature. Therefore, it is one of the perfect places for the beginners to invest in Ethereum.

 

Invest in Ethereum through peer-to-peer exchanges

On the other hand, we have peer-to-peer exchanges which can be opted to invest in Ethereum cryptocurrency. This kind of a marketplace is completely end to end encrypted in nature, as the exchange itself is not involved in the process to invest in Ethereum. In this case, both the buyers and the sellers use the peer to peer exchange, in order to undertake the transaction. Major advantages of this method of invest in Ethereum is that there is no identity verification procedure required, unlike the broker exchanges.

 

Invest in Ethereum little by little at dips

Nevertheless, one of the best strategies ever applied and is also a closely guarded secret by some of the most professional Ethereum investors, is to invest in Ethereum in bits and pieces. According to the experts, the users must not invest in ethereum at once but should be carefully looking out for opportunities to invest in Ethereum. The best situation that one can choose to invest in Ethereum is buying Ethereum at its dips.

The readers are recommended to invest in Ethereum during its fall as the cryptocurrency market would certainly recover over time. Now how am I able to say that with such confidence? It is because Ethereum is the second largest cryptocurrency and whose use case would continue to rise, due to its amazing decentralized applications as well as smart contract facilities.

 

Pro top – decentralized exchanges to invest in Ethereum

There are also decentralized cryptocurrency exchanges which can which can be applied in order to invest in Ethereum. They are usually 100% automated as they completely depend on the smart contract functionalities for all of its uses. It is worth mentioning that, Blockonix is one of the most reliable and safest decentralized Crypto exchange that one can count on.

 

Disclaimer

All the investments are subjected to the market risks. As the crypto market is highly volatile, one must invariably conduct an extensive background check and must be taking only the amount of funds they are willing to lose.

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#Bitcoin

How to get a Bitcoin Debit card? Explained in three steps.

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Bitcoin Debit card has become very rampant, where users can use it in a similar way they used the traditional debit cards.

Deciphering a Bitcoin Debit card and how to procure one.

Intro

It is certainly not a surprise that the cryptocurrency space has revolutionized, the way the financial economy of the world functions. With Initial coin offerings, cryptocurrency tokens, decentralized applications, smart contracts, lightning networks, side chains, forking, etc are the most important and new cryptocurrency keywords which have been spawned by the development in the cryptocurrency space. Satoshi Nakamoto would never have thought that his simple initiative of an electronic cash system would grow into a billion dollar industry. Let us read about Bitcoin Debit Card and how to get one.

 

Bitcoin Debit card

Nevertheless, many cryptocurrency coins are available in the market and predominantly used for investment and not in the form of currency. Therefore, many initiatives have been undertaken, in order to democratize the usage of cryptocurrencies on a daily basis. One such initiative is the Bitcoin Debit card.  Bitcoin Debit cards have become very rampant, where users can use it in a similar way they used the traditional debit cards. The main goal is to completely radicalize the usage of such Bitcoin Debit cards in order to form a hassle-free form of financial ecosystem. Therefore in order to contribute to the community’s development, let us understand how to get Bitcoin Debit card.

 

Ordering a Bitcoin Debit card has never been that simpler. It is as simple as filling an application form and submitting it to the respective authority, very similar to any other traditional Bank.


Step 1 to buy Bitcoin Debit card

Firstly, all the users need to find a suitable Bitcoin Debit card providers they are usually nothing no one but the traditional Paytm payment gateway service providers which you have initiated to sell Bitcoin Debit cards in order to leverage their business there are many of them available in the market but the most reliable and popular one is the Coinbase’s Swift Bitcoin Debit card. One can avail it in a seamless fashion.

Step 2 of buying Bitcoin Debit cards

The user after selecting the appropriate Bitcoin Debit card provider needs to fill the application form with contains some basic details of the users like complete name, phone number, address, date of birth, and most importantly the Social Security Number.  We must properly provide all the authentic details in order to avoid any further discrepancies in data, which indirectly might lead to the rejection of the Bitcoin Debit card application. One of the main requirement of the Social Security Number is that the banks can easily verify the Know Your Customer regulations in a simplified manner.

 

The third step to buy Bitcoin Debit cards is to make the payment.

The users then need to make the basic pay in order to avail their Bitcoin Debit card. It is worth mentioning at this point, that this payment does not reflect in the Bitcoin Debit card that one receives. The user’s need to exclusively add funds to their Bitcoin Debit card by a number of other methods with which would be discussed, in maybe some other article. Once the payment is done the process is complete and the users receive their Bitcoin Debit card.

Further attributes of Bitcoin Debit cards

The usage and development of Bitcoin Debit card have become very popular since 2015.  It has opened up the cryptocurrency community for new ways to use Bitcoin, in its real format. Although the high volatility and price fluctuations, is resisting the merchants to accept Bitcoin, the crypto space will undoubtedly get mature enough to be used by the merchant stores in a very common manner. However radical steps have been taken in this regard, where any merchant store which accepts VISA credit or debit cards, would automatically be upgraded to accept the Bitcoin Debit cards as they are indirectly powered through VISA itself.

Future

As the cryptocurrency market gains, maturity Bitcoin Would still be in the topmost position, as Bitcoin Debit cards would monopolize Bitcoin over the market. However, with respect to the scalability issues of the Bitcoin blockchain network, the Bitcoin Debit cards might prove to be a bottleneck causing congestion due to more inflow of transactional traffic towards the network.

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