The miners migrate to the North: how external factors influence the choice of habitat of the miners digital treasures

Recently, the miners are actively trying to find a way to minimize the cost of production of digital gold. One such way is to move mynarski farms to countries where energy costs are minimal.

The fact is that for mining you need large energy consumption, produces a lot of heat. Many of the miners even began to compete in the contest of ideas of the non-trivial ways to use the released resource. For example, in Irkutsk, the miners proposed to heat the house or sauna.

Meanwhile, mining is a vital process in order for the blockchain remained decentralized and protected. First and foremost, this requires computing power and a large amount of electricity, the price of which in most countries is not small.

So, according to some analysts, the energy consumption of producing one bitcoin can vary in the corridor from $531 (Venezuela) to $26,170 (South Korea). According to estimates Digiconimist, by the end of 2018, the bitcoin miners will consume over 125 TWh, which is a huge amount of power.

Despite this, many crypto-entrepreneurs still consider mining as an option profit. But if in the past it did look like a successful company, but recently the miners of crypts has become much more difficult to maintain the profitability of its activities, given the current total stock bearish trend.

Where the grass is greener

The General trend is that crypto currency miners, whether small or large, are moving to areas where production costs are significantly less. In addition, the relocation of mining companies in the country, using alternative energy sources, reduces damage to the environment from such a large expenditure of resources.

Before China, because of the extremely low electricity costs, was a mining Mecca — a place which tried to get the biggest mining community. However, in the beginning of this year, China began to deal with cryptocurrency mining, which large farm, situated in China, began to leave in search of a better life.

Now miners seeking to the North in Sweden, Iceland and Norway. Prices on the consumption of KWh in these countries is 30% below the European average.

One of the largest farms, Bitfury recently announced its plans to open a company in Norway. The company plans to invest more than $35 million, and also intends to hire locals to run the facility. Norway not only has a stable and affordable price for electricity, but the government, which is not going to regulate crypto-space.

Canada — a new Paradise for miners?

Another Northern country, Canada, has established itself as attractive to the miners location. In some parts of Canada, electricity costs can be as low as 5-6 cents per kWh. The reason for such a low cost of electricity due to the fact that Canada uses a cheap and relatively uninterrupted working of hydroelectric power.

North American mining giant, Hyperblock, recently announced the acquisition of CryptoGlobal, based in Canada. In the end Hyperblock will have a huge enterprise working for 4-5 cents KWh. the Seemingly small difference of a few cents between electricity prices in the Nordic countries and Canada eventually pours into the millions.

Nevertheless, production in Canada has also a reverse side of the coin, attempts to regulate the crypto-space by the canadian government. When choosing between the North American and Scandinavian Meck miners literally have to choose between two evils, carefully counting the costs.

In General, the miners are demonstrating the absolute and unprincipled willingness to move through the world in search of the greatest possible benefit. Political system, weather conditions and climate also influence the choice of the location. The most important thing is profitability.


«Mr. Bitcoin» Martin Wismeijer store bitcoins under the skin — #DeCenterDaily

Samsung plans to reduce the cost of logistics using the blockchain.

Weekly trading volume of bitcoin in Venezuela has reached $55 million.

According to the website Coin Dance, by 14 April, the trading volume of bitcoin in a pair of the Venezuelan Bolivar on the Localbitcoins exchange rose to a record high of 2.7 trillion bolivars ($55 million) for the week. And a week earlier the figure was $35 million, and in the last week of March — $18 million. As reported by Reuters in March the inflation rate in Venezuela decreased by 13% in comparison with indicators of February from 80% to 67%. Although economic forecasts remain unfavourable, Venezuela last week and agreed on a national cryptocurrency: after a long confrontation, the Parliament has recognized Petro, approving a draft decree, which aims to establish a legal basis for the use of crypto-assets. According to the decree, the right to «regulate the production, organization and turnover of Petro» belongs to Nicolas Maduro. And on 9 April the government Official Gazette was told that all state institutions — from the ministries to the airports — are required to take Petro on the rights of legal tender. The introduction of the relevant infrastructure organizations dedicated 120 days.

Acne Buterin seriously proposes to limit emissions of the ether, the developers are against.

The rate of generation of new coins in Ethereum is growing, and April fool «comic» offer Buterin on limiting emission has triggered a fierce debate between developers. Citing the need for «economic stability», Buterin urged to stop issuing new coins when issue will reach 120 million of air (which is exactly two times more than was released during the initial pre-sale in 2014). In his opinion, this will provide favorable conditions for cryptocurrency in the long term. Last week, during the meeting, the developers, the Creator of the air to justify its position, after which a leading developer of proof-of-stake Protocol Ethereum Vlad Zamfir has published a post on Medium called «Vitalik Against the proposal to limit the emission of (EIP 960)». «I don’t think we have the necessary information to understand what we agree,» said Zamfir. «The numbers seem completely arbitrary,» wrote one of the participants of the discussion on Reddit. Many developers United around the idea that economic gain was not the purpose of the creation of Ethereum: «the Main purpose of the air under the Protocol is to serve as a resource consumed by the computing machine for calculation,» wrote the independent developer of Ethereum Darryl Morris. In his opinion, the use of ether as an investment tool should not be a priority. This view is shared by developer Nick Johnson, who said that the discussion turned into a «group of people arguing about pseudo-economy like Ethereum was created primarily as an economic model, not as computing system». Zamfir also fears that limit emissions of air can empower speculators and large investors. «I don’t know what the emissions required to achieve consensus, although sure that the current volume is not also the best… Almost every new altcon now shown in a limited number of coins,» said Zamfir.

Exchange Binance burned tokens Binance Coin.

«According to the white paper, we have completed burning 2,220,314 BNB ($30 million) for the third quarter,» said the exchange on the official website last Sunday. In the middle of last week, it reminded the users about the event: «long before quarterly redemption and burning token BNB. How much do you think BNB will be burned in the quarter?» — posted the exchange on Twitter. The process for the internal token Binance really traditional and are described in the white paper of the project: «Each quarter we use 20% of our profit on redemption of BNB and their destruction. This will happen as long as we don’t pay for 50% of all tokens BNB (100 million)». Binance Coin is a token of the standard ERC-20 and has a limited issue of 200 million coins, representing deflationary by its nature, cryptocurrency — that is, its rate should increase. The token provides reduced fees on the platform Binance: now the holders of BNB have a discount of 50%, but in the future it will decrease. Previous burning of coins took place in October 2017 and January 2018, when it was destroyed 986,000 1,821,586 BNB and BNB respectively. These «procedures» have reduced emissions to 194,972,068 BNB, and in circulation at the moment is 114,041,290 BNB. Cryptocurrency has reacted to the recent burning of a decrease of 11%, down for the night from $13.57 to $12.11.

«Mr. Bitcoin» Martin Wismeijer store bitcoins under the skin.

Dutchman Martin Wiesmeier in 2010, he lost 80% of their bitcoin savings as a result of breaking the wallet. Now it stores the private keys on the implanted in the hands of NFC chips, each with a capacity of 888 bytes, or 26 keys. Implants were introduced in the Studio of piercing and composed of glass chips the size of 2×12 mm. According to Wismeijer, he pays with chips every day: it is necessary to scan the chip with their smartphone, which will receive the key to decrypt it. «If in 2010 I had a chip then I would be a very rich man,» said Martin. However, it is also controversial, said that for security reasons — that the chip does not come off along with a hand — he keeps it only a small amount of cryptocurrency required to purchase beer or coffee.


Sweet November SEC

In October Yahoo Finance and Decrypt the Media published a joint report which says that the Commission on securities and stock exchanges of the USA (SEC) has tightened the prosecution ICO, putting at risk, «hundreds» of projects. Thus, according to the document, dozens of companies are «quietly agreed» to return the investor’s funds and pay the penalties instead of trying to reach agreement with regulatory requirements. Yahoo and Decrypto noted that the crypto-space, there is still no regulatory clarity and the Commission «is not going to provide it». November 16, the SEC issued a statement about the digital assets is one of the few such documents since the time of the report DAO — but experts doubt that he will clarify the situation and make life easier for players in the crypto-sphere. What’s the mood with the SEC and with what projects the Commission figured out in November, tells DeCenter.

AirFox and Paragon

November 16, the SEC issued a decree on the results of the investigation in respect of projects AirFox and Paragon. The Board found that the company was selling unregistered securities. Now they are required to register the tokens in accordance with the law, pay a fine of $250,000 and meet the requirements for reimbursement of investor funds if any.

The financial services company Airfox and blockchain startups in the marijuana industry, Paragon spent tocancel last year. Airfox has raised $15 million for the creation of a mobile application that will allow users to monetize clicks on the ads and Paragon to develop their own platform, raised $12 million.

The company agreed to pay fines to register their tokens as securities and make periodic reports to the SEC and to return any funds to the affected investors.

SEC declares that encourages technological innovation on the capital market, but simultaneously emphasizes that «market participants must adhere to well-established and well-functioning legal boundaries, working in the field of technological innovation, regardless of, securities are issued in certificated form or using new technologies such as the blockchain». «We’re clear that companies that issue securities through the ICO must comply with laws and regulations and rules governing registration of securities. These cases show those who wanted to do something like that, that we continue to monitor the violations of the Federal securities laws in respect of digital assets,» commented Stephanie Avakian, one of the leaders of the Department of law enforcement SEC.

Global context. The end of «first phase»

This is the first case of application of measures grazhdansko-legal responsibility in respect of the ICO projects from the SEC, and some experts consider it an important milestone in the history of crypto-regulation.

«What we see is a simple development of what was supposed to happen. Regulators always interfering… Coming global tough measures, — says David silver, a lawyer in the area of securities fraud and investment losses. The government was not going to be afraid of groups of libertarians and anarchists. In the next two years we will see more than just enforcement actions.»

However important or even turning date 16 November was not the only reason. On the same day, the SEC summed up its current position on the activities of crypto-projects in the «Statement of issue and trade digital securities.» «Today marks the end of what I would call the «first part» law enforcement strategy of the SEC, commented on the emergence of this guide, Jake Chervinsky, counselor of the state service for trials in the field of securities. This is the first [statement SEC] since the speech of the Villa Hinman, who said that bitcoin and ether are not securities because they are “fairly decentralized”. It covers all recent SEC actions against industry players: ICO, exchanges, brokers, funds. And that’s why I call it the end of the first phase. It seems that SEC has prepared this statement for almost a year. They are strategically pursued several of the members of each group to make this statement as a guide for the rest.»

Czerwinski believes that the SEC uses the «classic strategy, known as «leadership through coercion, which leaves the regulator for freedom of action. About the same strategies the SEC wrote mark santori, a lawyer and the author of the concept of SAFT, in December last year, when the SEC announced its decision in the case of Munchee: «We will see more [cases] of leadership through coercion by the SEC. Fortunately, the Commission continues to act rationally and to consider these as «teachable moments» for these [projects] as Munchee, which in fact are not criminals».

Czerwinski notes that the Commission acts in the interests of reputation that might be good for her but bad for crypto projects that need clarity and clear legal framework: «SEC rarely wants to test uncertain legal theories in court. If they lost a big case, such as whether the tokens of securities is to undermine their law enforcement strategy for the entire industry. [A] the best way to avoid this? Leave the rules vague and ambiguous». For this reason, according to Chervinski, the latest statement by the SEC still does not explain clearly enough how the securities law should apply to digital assets «In the statement of the question is: «When the digital asset is a security?». The only answer there is: «See report for DAO», despite the fact that it was released about 16 months ago.»

«Even less help» this statement makes the issue of decentralized exchanges — whether they are subject to Federal regulation, said Czerwinski. «It says that it depends on «relevant facts and circumstances.» In legal language this is equivalent to «[we] are not sure, don’t touch us»». «A business that provides a marketplace that unites buyers and sellers of securities, regardless of the technology used, must determine whether its activities under the definition of exchange under the Federal securities act. In rule 3b-16 of the act the exchanges of the given functional test to assess [this]», — it is told in statement SEC. In fact, it is the analogue of the Howey test to stock exchanges, and it is likely that the criteria will cause the crypto-projects less than criteria of the Howey test.

Another question which is set Czerwinski and which, in his opinion, explained in a Declaration how far the sphere of influence of the SEC. «Many companies react to regulatory uncertainty in the US, trying to get out of the reach of the SEC. But whether the SEC will hunt for the ICO and foreign exchanges that do not allow participation of American citizens? «[We] don’t know [do not touch]»,» — commented cerwinske.

In this case, as previously, the SEC remains open to direct appeals from the specific projects: «Consult your legal advisers regarding application of securities laws and to contact the Commission staff if you require assistance,» the statement said. «The path to regulatory compliance is, even when issuers have conducted illegal unregistered offer digital securities,» — this phrase from the statement of the SEC gives even more hope, pointing out that the SEC is ready to understand the projects that may not because of criminal intent, but because of the ambiguity of the regulations, incorrectly interpreted the character tokens sold and agree to pay a fine and continue to cooperate with the SEC.

Czerwinski notes that coming now to the second phase of regulation will be likely even more difficult for the crypto-space: «If I’m right, «phase two» not fun — it [is] a slow, painful grinding, in which the SEC cleans the crypto space every decision. In a sense, this is the right approach. To establish laws is not really the work of the SEC — the clarity must come from Congress. And if you’re tired of hearing on regulation and enforcement, I regret to inform you that this is only the beginning. The securities laws is only one part of a crypto-puzzle. We will go through this again with the tax laws, about money laundering, about the [bypass] sanctions and so on. I’m sorry.» Thus, in his opinion, the regulation in the second phase to actively connect the other departments, in particular the Commission commodity futures U.S. (CFTC) and IRS (IRS).

November SEC: chronology

If you believe the «theory phase» Chervinsky, the completion of the first phase of crypto-regulation are the following events:

In early November, the Enforcement Department of the SEC has published the annual report for the 2018 fiscal year, which shows that since the formation of Kiberprestuplenie inside SEC (at the end of the 2017 fiscal year), the Commission is increasingly engaged in the identification of fraudulent activity in cyberspace, which includes the activities of ICO projects. «Over the past year the Department has opened dozens of investigations into ICO and digital assets, many of which [proceedings] are continuing». The SEC highlighted cases Centra Tech, Titanium Blockchain Infrastructure Services and PlexCorps, which together got tricked more than $68 million of investor funds. According to the SEC report, the total amount of fines imposed by the Commission for the 2018 fiscal year amounted to $3.94 billion, of which $3.04 billion and accounted for 5% of the cases.

November 8, the SEC charged the Zachariah Coburn, founder of the exchange EtherDelta, which was not registered as a trading platform. The platform allowed the exchange of tokens of the standard ERC20, and, according to the SEC, within 18 months of its existence the exchange was located more than 3.6 million warrants of tokens, including those that were securities. The statement also draws attention to the fact that most of the orders were made after the Commission has published a report investigating the DAO in June 2017. The regulator said that the founder of the exchange, Coburn has not confirmed nor denied the charges but agreed to cooperate and pass the state $300,000 of illegal profits and to pay a fine in the amount of $75,000 and $13,000 as interest for the period before judgment. The SEC notes that the penalty would be greater if Coburn refused to cooperate.

On 15 November The Wall Street Journal reported that the SEC is investigating a $50 million tocancel the company crypto-loans Salt Lending Holdings Inc. «Sources familiar with the situation» said that the company received a summons in February. She was suspected of selling unregistered securities and the Commission finds, as was used collected in the course of licensee means and in what form the Salt staff received tokens. The trial for the SEC and the CEO platform ShapeShift Eric Voorhis, who previously was a member of the Board of Directors of the Salt despite the fact that in 2014 the SEC banned him from any fundraising activity. Will Voorhies to cooperate with the investigation, is unclear, but his previous statements say not that good. «All these stories about what the government is trying to protect people — a complete nonsense,» the businessman said during a summer interview with The Wall Street Journal.

On 15 November, Federal prosecutors in new York announced that Maxim Zaslavsky, founder of ICO projects REcoin Group Foundation and Diamond Reserve Club World, suspected fraud and deception of investors, pleaded guilty to «[engage] investors in the purchase of tokens through fraud in the form of statements about what they are backed by real estate and diamonds». In fact, the certificate that he sent to investors, were not associated with bloccano, and any supporting assets did not exist.

Recall that the case of the Zaslavsky became the first SEC about ICO fraud. The Commission has charged a businessman at the end of September 2017, and demanded the return of collected during the ICO funds and to pay a fine.

Zaslavsky previously insisted that existing laws against cryptocurrencies «unconstitutionally vague» and tried to dismiss the charges against him, claiming that he created crypto-currencies were not securities. However, this argument was rejected by a Federal judge in Brooklyn in September. Judge Raymond Deary decided that RECoin and Diamond are securities. «A deliberate lie Zaslavsky and others led unsuspecting investors to buy worthless certificates [while they] thought that they acquire cryptocurrency securities. This office will continue to aggressively pursue those who use and deceive investors, whether in the form of traditional methods of fraud with securities or new — such as the alleged proposals of cryptocurrencies and blockchain-technologies», — said the lawyer court southern district of new York Richard Donohue.


Binance showed the interface of the future decentralized exchange

Bitcoin exchange Binance has published a second video showing the capabilities of the previously announced decentralized trading platform. In particular, the new video shows a full-fledged trading interface, the process of creating accounts and their own blockchain Explorer company Binance Chain.

Judging by the video, the interface Binance DEX will largely resemble the appearance of the existing exchange. Additional features include the ability to connect an external address, create a mnemonic phrase of 24 words, private keys, and the tab balances. You can also see a custom icon with a dropdown menu that shows the individual addresses.

Using a browser users can search for blocks and transactions included in a specific block.

«Assets will be protected decentralized applications like Trust Wallet, which is independent of the server infrastructure, storage of private keys on the device user. This means that access to funds will have only the users themselves», — stated in the message Binance.

CEO Binance, Chanpen Zhao also gave additional comments regarding the future of decentralized exchange, noting that the creation time of the blocks on the platform will be one second, and the transaction will be instant – their finality will be fixed after one confirmation.

Startup Binance DEX is expected in early 2019. The platform will provide users the ability to trade as a private token of exchange, the BNB and other coins. Currently BNB is a token of the standard ERC-20, but later it will be translated into Binance Chain.

We will remind, about the imminent launch of its own blockchain head Binance announced on Tuesday, 4 December. The first demo Binance DEX was shown in August.

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Japan will share the blockchain projects with the Association «FINTECH»

The Russian Association for the development of technologies for distributed registry «FINTECH» (AFL) announced a partnership with Japanese financial technological Association (FAJ). The partners plan to exchange experience in the field of blockchain developments and to explore promising financial technology.

The company also intends to develop programmes aimed at the development of FINTECH-ecosystems of Russia and Japan.

«The experience of our Japanese colleagues is interesting for us from the point of view of the creation and use framework. Japan is one of the first countries in the world where financial technologies are regulated on the legislative level», — said the Director of the Association «FINTECH» Tatyana Zharkova.

She added that in turn the members of the Association «FINTECH» to share with FAJ experience of creating a platform Mastercan that in the future «may become the basis of national blockchain infrastructure of Russia».

We will remind, in June the members of the «FINTECH» has announced plans to test prototypes on blockchain systems for transmission of financial messages.


Cryptocurrency Verge may be involved in the leak of IP addresses of users

In the Internet appeared the list of IP addresses allegedly associated with hundreds of cryptocurrency transactions Verge, the developers of which promise their users an enhanced privacy.

«Verge is a secure and anonymous cryptocurrency. We pay special attention to privacy,» reads the project website.

The list is published on the website whose owner is unknown. It contains the data about transactions made through the purse Verge Core. In a short time on the resource should also receive information about transactions conducted through Electrum wallet XVG.

How the information in this list is true, difficult to verify. However, these data may say that the Verge is not as anonymous as the developers say.

On the website the Verge States that the project uses several networks focused on anonymity, such as Tor and I2P. It is argued that the IP addresses of the users disappear and the transaction is completely untraceable.

«Verge is a decentralized currency designed for users who value privacy. She perfected the original bitcoin blockchain through the use of anonymous networks such as TOR and i2P. It supports multiple hashing algorithms to enhance security and ensure the equal distribution of the reward between the miners,» say the developers.

However, that data undermine the credibility of the developers.

Team Verge, in turn, questioned the accuracy of the information presented on the website

«Until we found a real matches the IP/transaction on this website, but we continue to look at this data,» reads the Twitter account of the project.

But even if matches are only a few, it will prove that transactions users Verge at risk.


The number of cryptocurrency hedge funds have doubled in a period of volatility

Research FINTECH company Autonomous NEXT recorded more than double increase in the number of cryptocurrency hedge funds over the past four months.

As noted in the NEXT Autonomous now was 226 cryptocurrency funds. For comparison, as of October 18 of last year was 110. However, on 29 August 2017 cryptocurrency funds was 55, and at the beginning of the year 37.

The company stressed that the increase in the number of hedge funds occurred in the period of high price volatility of bitcoin and other cryptocurrencies. In mid-December, the price of the first cryptocurrency, according to CoinMarketCap, broke the mark of $20 thousand per coin, and in early February of this year quotes bitcoin dropped to $6 thousand.

With the explosive growth in the number of cryptocurrency hedge Fund, recalled in Autonomous NEXT, the volume of assets under their management remains relatively low, ranging from $3.5 to $5 billion For comparison, only one of the largest hedge Fund traditional financial market Bridgewater Associates, according to last year managed assets of more than $122 billion.

Formerly known supporter of cryptocurrency billionaire investor Mike Novogratz (Mike Novogratz) were planning to launch the cryptocurrency’s largest Fund with assets of $0.5 billion, but in mid-December decided to take a break. As I explained then Novogratz, they did not like “current market conditions”.

However, he successfully raised $250 million of investor funds to launch cryptocurrency trading Bank — 20% more than the originally scheduled amount.


What type of crypto to choose?

Every owner of digital currency necessary crypto. The market today offers a large variety of options. In General, the mechanism of action of most of them are similar. They differ in the method of storing money, the number of supported currencies, degree of reliability. So, cryptococal can work with a single cryptocurrency (in particular, common purses which you can only use bitcoin) or be multi-installed on the PC or be in the cloud, to run on the smartphone or stored on external media.

It is impossible to recommend any one type of wallet, as a lot depends on the goals of its future owner. When you select the crypto you need to understand why you need it: for example, to store currency, active investment, small day to day expenses. It should also be understood, how much currency will be used by the owner of the wallet, how often and in what amounts, does he need constant access to the wallet. Taking into account all the factors, you can find the most suitable solution.

I will give an overview of several types of purses, will highlight the pros and cons they see, and will try to give advice, for what purposes will fit a particular budget.

First, consider purses in the number of supported currencies. There are wallets that work only one cryptocurrency for example, only with bitcoin. Note that native client is and the bitcoin. Other multi-currency wallets: typically they support some of the most common cryptocurrencies. Now popular operations Althingi, so many people prefer to have a multi-currency wallets. But the main and most quoted bitcoin is still bitcoin.

For large amounts of bitcoins, I would advise you to use a wallet that supports either the minimum number of digital currency, or only bitcoin. Multi-currency support increases the risk of breaking the whole service due to the large number unchanged, have not undergone proper testing wallets new currency.

We now turn to a different classification according to the method of storing cryptocurrency. These wallets can be divided into three large groups: software wallets, hardware wallets and paper wallets. Talk about each group in detail.

Software wallets

These wallets are also divided into categories:

  1. A program for the PC. The principle of operation is very simple: the program downloaded from web service and is installed on a desktop or laptop. These wallets store the history of all executed in a network transaction, and therefore take up a certain amount of memory (more than 165 GB in the case of bitcoin). Enter the wallet can only be the device on which it is installed. This is one of the most reliable and the best options of storage facilities, it is no coincidence that he is popular. The risk in this case is associated with a possible computer hacking or a virus attack. Therefore it is not worth saving on the latest version of a good antivirus. Be sure to save the file wallet.dat in a safe place. In the case of damage you will lose your savings.
  2. Applications for smartphones. These purses can be called mobile versions of purses for the PC. The program is installed on the phone, it weighs less and is often easier to use. These wallets may be advisable for those who need constant access to the cryptocurrency anywhere. But if the phone is lost, there is a risk to lose their money.
  3. Online wallets. These purses are in the cloud, you can run them anywhere from any device. To create a wallet, you must register on the service website. But this method of storing cryptocurrency riskier than others: in this case, the passwords and secret keys are stored on third-party web server that is used by third parties. These wallets are convenient, but also prone to break-ins and hacker attacks.

Hardware wallets

These purses keep all user data on an external drive – a flash drive with the encryption chip set. To make transactions you just need to connect a USB flash drive to any computer with Internet access, enter the PIN code and transfer the money. The transactions are performed online, but stored offline. It makes hardware wallets is hardly a leader in reliability: hack. Minus these purses is their high cost. I would like to cancel that now the market is flooded with fake hardware wallets. So buy them strictly from the official websites of manufacturers delivery, which excludes the penetration into the parcel of strangers.

Paper wallets

This option is also a reliable: the user prints a sheet with the QR codes of the public and private keys that provide access to money. The possibility of hacking is not very likely, but the safety of equipment depends on the safety of the sheet with the codes.

In conclusion, I want to note that whichever type of wallet you choose, don’t forget about the safety rules: protect computer, protect sensitive information, check those who are transferring money, please be careful on the Internet, follow the news in the field of security. Then your funds will be protected.


A Bank in South Korea will create a service for storing private keys of bitcoin

Shinhan Bank, the oldest and the second largest Bank of South Korea announced plans for service development that will improve the security of storing bitcoins. It is reported by Korean media portal Naver.

“This is the service that stores the key of the blockchain in virtual box provided by the Bank. We are looking for ways to provide free service for the Deposit and collection of fees for withdrawal,” — said an unnamed employee of Shinhan Bank.

Key providing access to a bitcoin wallet consists of 26-35 alphanumeric characters, it is usually stored in the application online wallet. Cryptocurrency transactions are monitored and are not accompanied by banks, which is the main feature of the sale of the digital currency. However, this independence means that if the smartphone or the key is lost or stolen, the customer will lose access to your wallet and money.

“When the key is stored on the terminal stolen by the attacker can leak sensitive assets and transactions are protected by key. You will not be able to transfer the assets, and even if your key is abused, you will not be able to check it out,” said Kim Dong-Jin (Kim Dong-Jin) of the financial Supervisory Service.

In July due to hacker attack from South Korean largest cryptocurrency exchanges Bithumb entered 30 thousand users. Because of this incident, it seems, Shinhan Bank and had the idea to provide safe storage.

According to the company Group-IB, hackers are increasingly switching their attention from banks to kriptonyte. In this sector successful attack brings on average more money. For example, the recent hacking of the wallet Tether Treasury exploited became tokens, worth about $31 million.


Vice-Chairman of Nasdaq stocks: ICO «immature», but that could change

Vice-President of Nasdaq Bruce OST (Bruce Aust) believes that the market for IPO coins (ICO) is still immature, and the stock exchange is still the best place for money collection companies. He said this in an interview with CNBC during the Tech Summit in Lisbon.

The Vice Chairman of the Nasdaq sure to rest on its laurels, the company is not necessary — the situation can change:

“We are a regulated market, I think that’s the difference between us and the ICO. We will see that at some point these markets will be regulated, and it will change everything.”

He noted that the Nasdaq has always been at the forefront of helping companies in raising capital in private or public markets. The scope of ICO, he said, is still “young and early” stage.

According to the ICO Tracker CoinDesk, through this form of attracting investment to date has raised more than $3.5 billion, most of which occurred in the current year.

The growing popularity of raising Finance through primary placement of coins attracted the attention of regulators. In China, South Korea and El Salvador, the authorities banned the holding of ICO. In Russia, President Vladimir Putin instructed to regulate this area by 1 July 2018.

We will remind, earlier the General Director of NASDAQ adena Friedman (Adena Friedman) said that the company eschews the ICO due to the lack of regulation.