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Messages - Felix Felicis

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Litecoin Forum / Re: How To Buy And Mine Litecoin (LTC)

« on: June 21, 2019, 12:49:37 PM »

You can buy Litecoin from various exchanges like Binance, Bittrex, CoinSwich, Cryptopia, OKEx, and more.
When it comes to litecoin mining, it uses Scrypt algorithm as its proof-of-work model when mining, whereas Bitcoin uses SHA-256.
Also, it takes less time to mine LTC (2.5 minutes, compared to BTC's 10 minutes).
In my opinion, this is easier than bitcoin mining.

XRP - Ripple Forum / Re: Ripple has proven to be stable.

« on: June 21, 2019, 12:39:47 PM »

I don't think it's exactly stable. Since the beginning of May 2019, the price of Ripple has kept on increasing, currently standing at $0.433835 USD. This year has seen a lot of fluctuations for XRP. So, ripple price prediction is quite difficult to understand.
On top of that, there's the bullish surge of bitcoin which is affecting altcoins as well.

Stable Coins Forum / Re: How Libra is different from other Stable Coins?

« on: June 21, 2019, 11:41:48 AM »

Libra has taken the world of cryptocurrency by storm. Actually, not just crypto enthusiasts, but people who don't even know about crypto or are interested in it, are into Libra. Facebook recently launched its whitepaper, and there are mixed reactions to it. The Libra info page gives away details about the cryptocurrency and what its goal are, and its basic features.

Ethereum Classic / Re: How to Keep Your Ethereum Classic Safe? Best ETC Wallets

« on: June 21, 2019, 10:38:31 AM »

There are many etc wallets that are safe and secure like Ledger Nano S, Trust Wallet, Classic Ether Wallet, Trezor, Atomic, Jaxx, MyEtherWallet, Emerald Wallet, Exodus.

Bitcoin Forum / Re: How is it possible to have a bitcoin wallet offline?

« on: June 21, 2019, 09:54:52 AM »

There are basically two types of offline wallets, namely hardware wallets and paper wallets.
Hardware wallets are devices that store your private keys and are pretty small. But don't go by its size as they are the most secure wallets out of all the other types. To trade your cryptos, you need to link the wallet to a compatible software wallet or exchange.
A paper wallet is literally a piece of paper where your public and private keys are printed.
The main advantage these offline or cold storage wallets have over online or software wallets is that the former isn't connected to the internet (not all the time for hardware wallets). This means that they aren't prone to hacks, viruses or malware and hence your private key remains safe and in turn your cryptos are safe.
You can look at some of the best bitcoin wallets here.

Cryptocurrency Price Speculations / Re: One of the Crypto news Predict Ethereum Price $260 soon. Is it true?

« on: June 21, 2019, 09:35:58 AM »

Quote from: IyemRoker on June 20, 2019, 03:15:59 PM

Quote from: Felix Felicis on June 19, 2019, 11:11:30 AM
Even I think the price of Ethereum might go till $300. Well, nothing can be said for sure though as the market of crypto is highly volatile and anything can happen. At our level, the ethereum price prediction is all we can do.
In the prediction Ethereum is very free to express our desires because it strongly refers later to our profits and losses.
I can also say that Ethereum will be able to 400 USD for this month but is it rational with the existing factors?

It's very much possible for eth to reach $400 USD, as currently, the price is already $284 and might as well be $300 very soon.

Bitcoin has joined the bullish surge, and it seems the other altcoins are following it as well if the prices for the past few days are to be considered.

Cryptocurrency discussions / Re: Why Are Crypto Exchanges Hacked So Often?

« on: June 20, 2019, 12:28:35 PM »

Well, isn't it obvious? These applications store our private keys on an online server, and you can imagine how 'safe' that'd be!
And if you're asking for the reason why hackers hack these exchanges, then, again, obviously because these exchanges have their users' accounts linked to them and as so many users have their crypto stored, hacking the exchange would mean the hackers would get their hands on the crypto of all the users, which would amount to a lot of money.

Cryptocurrency discussions / Re: How do I keep my cryptocurrency safe?

« on: June 20, 2019, 12:18:36 PM »

In order to have a crypto wallet, you need to choose from a variety of wallets (hardware, software, paper) and all of them have their own purpose.
When safety is the first priority, hardware wallets are the best option. They're foolproof and are virtually unhackable. This is so because of the various features that are available in these wallets.
1. These wallets won’t work until and unless they’re connected to a computer. When disconnected they are just a piece of metal.
2. The private key is safe inside the device itself and when not connected to the PC, it remains isolated. Whereas the exchanges (who are a third party software) stores your private key on an online server.
3. Also, as these hardware wallets are external devices, if your computer gets infected with a virus, then at least your wallet and private key will remain safe.
4. The hardware wallets possess the Two-Factor Authentication, making the transaction more secure, unlike the exchanges.
The best hardware wallets are Ledger Nano S and Trezor One.

And try not to store your crypto on an exchange as that would probably be the most unsafe option. The reason lies behind the fact that these exchanges store your private key on an online server. Plus, you must be aware of all the hacks that keep on happening.

Cryptocurrency discussions / Re: All Crypto Wallet details!

« on: June 20, 2019, 12:02:52 PM »

There are various types of crypto wallets like offline or cold storage wallets (hardware wallets, paper wallets), online or software or hot storage wallets (desktop wallets, mobile wallets), etc. And choosing one of them depends on your requirements.
Cold storage wallets are mostly preferred for investment purpose while online wallets are preferred for their in-built exchange feature, which is helpful for trading purpose.
Hardware Wallets - These physical devices are the most secure wallets, being virtually unhackable and keeping your private key safe. The best part about these wallets is that until and unless it is connected to your PC for access, the device won’t work. Some of the best hardware wallets are Ledger Nano S, Trezor, KeepKey, etc.
Online Wallets - The thing with online wallets and why so many people prefer them is that these wallets can be accessed from anywhere and on any device. Plus, it’s free (unlike hardware wallets that are quite expensive). Also, they are mostly used for their in-built exchange feature, which the hardware wallets do not possess. Some popular and reliable wallets are Jaxx, Exodus, Guarda, etc.

Sorting Box / Re: Will The Bull Run Ever Happen?

« on: June 20, 2019, 11:54:47 AM »

Well, it is happening. Bitcoin has once again joined the bullish trend with its price surging to $9000 and increasing, you never know what will happen. Especially as the crypto market is highly volatile. But, yes when the bitcoin halving will take place, there are high chances that the price will surge more than ever, maybe even cross the 20k mark.

Sorting Box / Re: Is there any real way to earn bitcoin without investment?

« on: June 20, 2019, 09:57:00 AM »

There are a few ways to earn Bitcoin without investing, like the most basic way would be to mine, of course. But then again, the mining rigs are quite expensive. The other unconventional ways are by gaming, gambling, faucets and referrals. Now, the returns in all these ways are way less and not worth the time. But, there's an exception in the referral option. Mostly, the referral programs offer just $1, but CoinSwitch offers $5 worth BTC in their referral program. All you have to do is refer to a friend and when they make a transaction worth $100, both of you get $5 worth BTC. Additionally, you'll also get commissions every single time your referral trades.
So, you don't have to do anything, or pay anything. Just the referral will do the work.

Sorting Box / Re: Is It Safe To Leave Your Tokens On An Exchange

« on: June 19, 2019, 02:47:12 PM »

Nope, definitely a big No. It's absolutely not safe to leave your precious cryptos on an exchange. For one, they store your private key on an online server, so you can imagine how 'safe' that is. Secondly, if that exchange gets hacked (which let me tell you happens a lot. Take the recent Binance hack for an example).
What you can do is have a proper wallet. Online wallets aren't that safe either, but some of them are trust-worthy. The best would be to have a hardware wallet. That way you'll never have to worry about your crypto again.

Cryptocurrency discussions / Re: How to Keep your Crypto Safe

« on: June 19, 2019, 02:37:09 PM »

In my personal opinion, the most reliable and safest way to store crypto (that too for investment purpose) is by having a hardware wallet. There are various reasons to support this:

1. Hardware wallets are basically external devices that are only connected when a transaction has to be performed. When disconnected, they are isolated from PC and thus from the internet itself. This helps in securing your private key that’s stored inside the wallet.
2. In online wallets, your private key is stored on an online server by a third-party application (the software) and chances of your wallet getting hacked is very high.
3. The pin or password helps in securing your wallet, so, even if somehow, it gets lost, or stolen, then you don’t need to worry about your cryptos being stolen. But, you do need to remember the password as without it you won’t be able to access your cryptos.

With that being said, some of the top hardware wallets are Ledger Nano S, Trezor and KeepKey, etc. These wallets also provide support for numerous Altcoins apart from Bitcoin (Ledger having the most support, having support for 1100+ coins and tokens).

Sorting Box / Re: Will crypto collapse?

« on: June 19, 2019, 02:29:19 PM »

No, of course, it won't!
Even though after a decade of its release cryptocurrency is not accepted in all the parts of the world, but someday this will change, for sure.
Even if governments in some countries might ban the usage of crypto, cryptocurrency is not something that can be extinguished so easily.
It is decentralised and is everything that fiat currency will never be.

Sorting Box / Re: Is crypto still a future currency?

« on: June 19, 2019, 01:41:00 PM »

Cryptocurrency is present since 2009, but still, even after a decade, there are many places across the world where it's not accepted like fiat is. I agree that every year the number of crypto users are increasing, but even then, there are countries where people are not allowed to freely use crypto, or even worse, it's completely banned to use, hodl, trade, or anything that has to do with cryptocurrencies. And the places where it is allowed, there aren't many applications for the virtual currency.
Anything can be bought with fiat currencies, but when it comes to crypto, there are just a limited number of uses, the basic ones being trade and hodl. There are applications and websites allowing crypto to be a mode of payment, but the number of them having this option is not enough.
So, for now, I guess it is a future currency. But over the next decade, it'll be widely used. Hopefully.