Cryptocurrency Best Bitcoin Wallets For Safe And Secure Storage Guide

The best Bitcoin wallets for safe and secure storage


The Nano S is essentially the same as its successor, the Nano X, minus a couple of features. Both support the same list of cryptos and have access to the Ledger Live software. Unlike the Nano X, Nano S lacks Bluetooth connectivity, and it only stores up to 18 wallets versus the 100 wallets that can be simultaneously stored with Nano X.



Coinbase

is one of the easiest ways to buy, sell, and hold cryptocurrencies. With Coinbase, you can connect a U.S. bank account and easily transfer dollars in or out of your Coinbase investing and trading account. You can also use a standalone Coinbase wallet for mobile.


Robinhood

Mostly used as a mobile-first platform but has a desktop version, available on the web, too. And what really sets Robinhood apart is that it’s completely free to use. There are no commissions when buying or selling Bitcoin. Robinhood customers can currently buy, sell, and hold Bitcoin, as well as six other cryptocurrencies.

Exodus



While it is great for beginners, more advanced users may find it lacking in some features. First, Exodus is a closed source wallet. This goes against the ethos of the idea of Bitcoin and blockchain and can create some security concerns as its code is not open for everyone to see. Instead, users rely on the Exodus team to ensure there are no holes in the security of its wallet.


InstantPay



With InstantPay for Bitcoin Cash, payments move faster than Visa, Mastercard, and any cryptocurrency wallet out there. Simply set your spending threshold, scan the QR code, and your payment will auto-complete in an instant.

This digital exchange and online cryptocurrency wallet provider is great for people new to Bitcoin. It makes buying and selling very similar to buying and selling stock through your brokerage account. Coinbase trading accounts can hold at least 46 different tradable cryptocurrencies, including U.S. dollars and the Coinbase USD Coin, which is pegged to the dollar. Some coins can even earn interest.

2FA


Two-factor authentication (2FA) is a way to add additional security to your wallet. The first ‘factor’ is your password for your wallet. The second ‘factor’ is a verification code retrieved via text message or from an app on a mobile device. 2FA is conceptually similar to a security token device that banks in some countries require for online banking. It likely requires relying on the availability of a third party to provide the service.

Bech32

is a special address format made possible by SegWit. This address format is also known as ‘bc1 addresses’. Some bitcoin wallets and services do not yet support sending or receiving to Bech32 addresses.

Full nodes

Some wallets fully validate transactions and blocks. Almost all full nodes help the network by accepting transactions and blocks from other full nodes, validating those transactions and blocks, and then relaying them to further full nodes.

Hardware Wallet

Some wallets can pair and connect to a hardware wallet in addition to being able to send to them.

While sending to a hardware wallet is something most all wallets can do, being able to pair with one is a unique feature. This feature enables you to be able to send and receive directly to and from a hardware wallet.

Legacy Addresses

Most wallets have the ability to send and receive with legacy bitcoin addresses. Legacy addresses start with 1 or 3 (as opposed to starting with bc1).

Without legacy address support, you may not be able to receive bitcoin from older wallets or exchanges.

Lightning network

The Lightning Network is new and somewhat experimental. It supports transferring bitcoin without having to record each transaction on the blockchain, resulting in faster transactions and lower fees.

SegWit

Some wallets support SegWit, which uses block chain space more efficiently. This helps reduce fees paid by helping the Bitcoin network scale and sets the foundation for second layer solutions such as the Lightning Network.

Reference

Best Bitcoin Wallets of 2021

Bitcoin Wallet | Store Bitcoin Cash (BCH) & Bitcoin (BTC)

Choose your wallet

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Cryptoversity Online School for Cryptocurrencies Review

Cryptoversity Online School for Cryptocurrencies Review 1

We spend a lot of our lives chasing money in order to make a living and achieve our goals, but money is also a destructive force. Some might even call it bad. Cash, according to others, motivates criminals to cheat, steal, and even kill. Money is a source for both the best and worst elements of human endeavor.

Master, the exchange platforms to make crypto trading second nature. When you want to trade one crypto asset for another, whether it’s for the first time or the hundredth, you must use a cryptocurrency exchange. You might have already used one, but this course is here to make sure you’re on the right track.

They don’t want hype, intrigue, or clickbait because it wastes their time and gives little value. This course provides extraordinary quality videos with up to day information on crypto trading.

A trading setup is a specific set of circumstances to which we respond with a specific set of actions. These acts are repeatable and assist in the growth of our edge. This module will teach you how to set up a trade so that if the price does not go the way we want, we are out of the game.

You’ll also go into the theoretical side of trading setups, which focuses on the practical steps of placing and canceling orders that will activate and manage your trades. This module contains the following courses: If you haven’t studied the subject thoroughly, you’ll be surprised at how little you know about money, especially the dirty little secrets that aren’t widely known.

You are lucky to have been exposed to this information and to be one of the few people who learn the facts and have their eyes completely opened. Hidden secrets of money were distributed by Cryptoversity with the written permission of Dan Rubock, the film’s director and author.

Cryptoversity’s creator, Chris Coney, recognized an inherent ability to organize knowledge into coherent structures and then convey them to others in a digestible manner. While researching the crypto room, he discovered a major issue plaguing the industry: a shortage of high-quality crypto education.

He used his gifts and abilities as a natural communicator to solve the cryptocurrency education issue in just over six months. Chris Coney also hosts The Cryptoverse, a popular YouTube channel that provides daily updates on Bitcoin, cryptocurrencies, and blockchains.

Chris Coney’s videos demonstrate his moral, ethical, and philosophical view of current affairs as a true believer in the free market, equality of opportunity, and the importance of education. Chris’s program is well-rounded. He discusses recent political and business developments that have an effect on cryptocurrency, as well as new ICOs and ventures, decentralization, exchange methods, and public opinion.

Mike brings us to Greece in episode 2 of the Hidden Secrets of Money to learn when, where, and why currency became money. You’ll also hear about the Seven Stages Of Colonialism, which is one of the most predictable long-term economic cycles.

Today, society is at a fork in the road, and the direction humanity takes will have a greater effect on our freedom and prosperity than any historical event.

In 2008, new technology was launched that is so significant that its fate is inextricably connected to the fate of humanity. It is so strong that if it is caught and governed, it has the potential to enslave the entire human race; but, if it is permitted to stay free and prosper, it has the potential to promote unparalleled levels of happiness, peace, and prosperity.

We’ll follow Mike’s multi-year journey to understand Bitcoin and the fascinating technology that enables it to work in this episode of Hidden Secrets of Money.

Join now

Refrence

Cryptoversity Online School for Cryptocurrencies Review

How To Use A Hardware Wallet To Store Your Crypto

How To Use A Hardware Wallet To Store Your Crypto 2

Keeping your cryptocurrency in the exchange where you bought it, be it Kraken, Coinbase, or Gemini, is inherently dangerous. Most of us will dip a toe into the crypto markets by visiting one of these markets and buying a few hundred dollars in currency. But then what do you do with it? Well, you can buy a wallet to store it in.

I’ve been testing out a new called the Corazon made by Gray, a metal gadget case manufacturer. The Corazon costs a cool $599 for the blue titanium model and the limited-edition “stealth” model costs $1,499. For folks who have already made a mint in crypto, this is pocket change. But for the rest of us, I wanted to answer the question: “What do I need this thing for?”

The Corazon is definitely quite pretty. Compared to other crypto wallets, it looks like a work of art. But the case doesn’t particularly matter as much as what’s inside. The Corazon contains a working T, a hardware cryptocurrency wallet made by the Czech-based . The Trezor is one of the most popular hardware wallets, in close competition to . Both are more than capable and there haven’t been security issues (yet)—plus cheaper, less popular models are far too new and untested to be trustworthy.

With that, let’s walk through how to secure your crypto using a hardware wallet.

Don’t trust your exchange

The interesting thing about crypto is that you can buy fractions of a single coin. In the case of Bitcoin, you can buy fractional parts called Satoshis and they usually end up in your exchange wallet. I’m going to walk you through Coinbase’s interface since it’s one of the most popular.

We begin by buying a little cryptocurrency on Coinbase.

You’ll see your crypto in your list of balances. You should never keep your crypto on an exchange. Further, never store your crypto on online wallets. While your experience may differ, saving your cryptocurrency online is akin to leaving your retirement savings in a dark plastic bag in the back yard—it might feel safe, but there are just too many problems with the scheme to trust it with your fortune.

Further, if you’ve gotten this far and you are planning on “investing” your crypto with someone you met on WhatsApp or Instagram, please stop now . The typical scam involves sending an amount of crypto to another wallet and then getting multiple notifications that your crypto is rising in price. When you try to withdraw your cash, however, you’ll find it very difficult and will be asked to add more funds until the scammer has had enough of you.

Again, do not trust an exchange or online wallet with any amount of cash and do not send cryptocurrency to investors or people you do not know.

Using your wallet

Now that you have some crypto and have not been scammed, plug in your Corazon (or Trezor) and activate it. The Trezor website connects to your device via your Chrome browser and the entire process is done online.

A hardware crypto wallet is essentially a secure storage device. To receive and send crypto, you need a wallet address, a public key (think of it as your public signature), and a private key (which must remain secret). Your wallet address— something like 1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2 — is a long string of letters and numbers that identifies your wallet. You can hold multiple wallets on one hardware device and there are multiple types of wallets, one for each type of cryptocurrency. The hardware wallet stores your private keys securely, allowing you to access these wallets without typing in a very long and complex string of digits. You can feasibly store this information on paper —and people used to enjoy using to store their crypto— but a hardware wallet is superior.

To set up your wallet, plug it in and visit the maker’s website. In Trezor’s case, the system will initialize the wallet, install the secure software, and create public and private keys. The Trezor stores these keys internally and the keys are considered secure as long as they are on the device. The device will also generate a pneumonic recovery Key, which consists of about 20 words that are easily translated to the string of digits that makes up the private key. These words are also called a recovery phrase because they are used to recover your wallet if you lose any of your passwords or PINs.

The Trezor Model T usually has 24 recovery words but it also supports a new type of key that is split into multiple chunks of 20 words each. This means you could hide a chunk of your key in different places—home, work, with a friend and recover your wallet if something terrible happens.

Whichever you choose, the system, will walk you through the setup process and ask you to set a PIN for accessing the hardware wallet. Keep the recovery seed and the PIN safe. Do not keep them on your computer or your phone. To be completely safe, write it by hand on a piece of paper and store a few copies in different places. Your Recovery Phrase is the only thing standing between you and disaster.

Once you’re done setting up the device, your wallet is ready. The system will often ask you to confirm things on the hardware device before it allows you to perform certain actions.

As you see above, I’ve shared the actual wallet address for the Corazon Trezor in front of me. I’m able to do this because you can’t actively steal anything from me using only my wallet address. In fact, you can see and even see how much I’ve deposited and withdrawn. If that sounds a little creepy, welcome to cryptocurrency.

I move over to Coinbase and initiate a funds transfer. Every transfer costs a small amount of money, in this case about 2 cents.

If your transfer doesn’t show up immediately, don’t fret. Cryptocurrency transfer systems are fairly slow when compared to the traditional banking system and most wallets require multiple confirmations before they display your balance. These confirmations are like firm nods from the rest of the network that they agree that the transfer was legitimate and they are part of the fabric of the crypto networks. Explaining the blockchain is beyond the scope of this article but you can imagine these confirmations as thumbs-ups from various users around the world who saw your transaction happen and agree that it is legitimate.

Once the network confirms the transfer, you can unplug your Trezor and go about your day. Any time you need to access your riches you simply connect the Trezor to your computer and send or receive based on the on- screen and on-device prompts. Store your recovery phrase in a safe place and absolutely do not forget your PIN. You are your own bank when you own one of these things, and you’re responsible for your security. If that sounds daunting, stick to debit cards and ATMs until crypto formally enters the financial system.

That said, the cryptocurrency landscape is rapidly changing and devices like the Corazon are indicative of a real shift in perception. Whereas cryptocurrencies were once considered only for hackers and cyberpunks, a $600 titanium crypto wallet to store your crypto millions is much more mainstream. Just don’t start wearing it like some kind of cyberpunk pocket watch and you’ll be fine.

Source Link

Blockchain Banking Platform Quantocoin Announces IEO and Utility

 

 

Quantocoin is a blockchain bank focused on offering a solution to mainstream banking problems, whilst still offering all of the benefits associated with traditional banks.

The Quantocoin blockchain banking platform and mobile app are set to launch in Q2 2021. Both companies will use smart blockchain contracts to eliminate long transaction times and high processing fees, but will still provide traditional products such as fraud security and new technology like Bio-ID verification.

 

 

Quantocoin will offer faster transaction times, fewer administration requirements, and a lower cost than traditional banks. Quantocoin also focuses on security and simplifies traditional AML and compliance procedures through fast, secure, and inexpensive blockchain technology.

Quantocoin is a blockchain bank that offers all the advantages of traditional banks without any disadvantages. Following the completion of the final round of IEO, the company launched its own Utility token on the leading LAToken exchange. The QTCT token sale is staggered over 3 rounds, with the first round now extended until the 7th of February, and the last round finishing on March 30th, 2021.

Individuals and blockchain enthusiasts will benefit from features like spending cashback, crypto and fiat currency exchange, and advanced asset management. Users will also be able to receive funds, send money, make payments, and even trade, using cryptocurrency and fiat. The platform will also offer reward and loyalty programs to benefit loyal users.

In striving to blend all of the best aspects of traditional banking with the benefits of blockchain, QTC will offer a broad range of features. Quantocoin will offer excellent banking features such as insurance coverage, credit, payment deferral, remittance, and unlimited international transfer, all of which will benefit global companies.

In striving to blend all of the best aspects of traditional banking with the benefits of blockchain, QTC will offer a broad range of features. Quantocoin will provide great banking features such as Insurance protection, Credit, Payment Deferral, Remittances, and Unlimited international transfers, all of which will greatly benefit global businesses.

 

 

 

 

 

Best Crypto Wallets: Choosing The Best Wallet For Crypto

 

If you are new to trading and investing in cryptocurrency, a hardware wallet can be a bit redundant – it is generally believed that you should buy a hardware wallet when you have a large amount of cryptocurrency and want to maintain its security. Being an active trader can further prevent this problem in business, software and online wallets are much more convenient.

 

Best bitcoin wallet

 

Electrum can be downloaded for operating systems Windows, Mac OS, and Linux. It is a popular wallet for desktop software, but it is also the most technical wallet. If you are a beginner in Bitcoin and cryptocurrency, this program may not be the right choice for you.

Like Electrum, mycelium is one of the earliest wallets in space. As with Electrum, you can set custom transaction fees to choose how long you are willing to wait for the transaction to complete.

When it comes to Coinbase, most cryptocurrencies refer to it as an exchange. Yes, it also has its own software wallet, which can be considered as an online or web wallet.

 

Best Crypto Wallets: Choosing The Best Wallet For Crypto 3

 

In addition, the cryptocurrency wallet is decentralized and does not collect any personal information about you. It integrates several card payment processors into your wallet so you can buy cryptocurrency without leaving the mobile app.

Jaxx Liberty also charges fees for your transactions. Although it is worth mentioning that these fees are not charged to the wallet, they are sent to the miners in the network.

 

 

How Cryptojacking Hackers use Phishing and Software Vulnerabilities To Mine Crypto On Your Machines

 

A bitcoin wallet is a place to store digital bitcoins and verify transactions when you use them. The wallet contains secret information, called a private key or seed, which is used to verify the transaction and “sign” so that your Bitcoin can be used to buy or exchange another asset. This prevents others from using your Bitcoin or third parties to change the transaction.

 

 

 

 

 

 

Cryptocurrency Beta Earn Bitcoin By Watching Videos

 

Yes, this really works. It’s not that hard either. It’s actually a lot of fun, to be honest, I started using the trading bot a few weeks ago and I’m already profiting. I’m surprised more people aren’t doing this.

 

Earn Bitcoin Watching Videos - Bittube

 

I’d just like to add my story, I think others would like to hear it. I got involved in crypto a few years back. This was when bitcoin was only a few bucks. I ended up selling all my bitcoin when it was only $75. Easily the worst financial decision I’ve ever made in my life. Because of a few different reasons, I didn’t get back into crypto until recently. I just started trading bitcoin with this beta testing group and I’m going to keep all my bitcoin this time.

Cryptocurrency will be the biggest wealth transfer of our generation. Bitcoin is turning into our generation’s version of digital gold, and YES it has it’s ups and downs. But it’s trending upwards. I know it might be hard for some to believe, but in the near future, bitcoin could be worth 100k to a million dollars easily. Trust me, get in now while you still can.

 

Cryptocurrency earn Bitcoin by watching videos

 

For example, you can register as a participant for research studies on the University of Cambridge’s website. Although they are asking for volunteers, they offer “modest monetary compensation” to people who take part.

As with the other recommended sites on this list that pay you to watch videos, the more you branch out on SuccessBux, the more you earn. So, as well as watching videos, it’s also worth trying out the other money making tasks on there, like answering surveys and referring friends. Most people are aware of Bitcoin, but a little known fact is that there are literally thousands of alternative cryptocurrencies out there. These alternative cryptocurrencies are commonly called “altcoins”, short for alternative coins.

Some of the most popular are Ethreum, Litecoin, and Dash. Though Bitcoin has enjoyed a large amount of media attention over it’s huge price gains, many of these lesser-known cryptocurrencies have had just as much if not more of a price increase in the last couple of years. Another aspect that all these cryptocurrencies share is volatility, which to a typical investor may seem like a deterrent, However, to a day trader, it’s a big plus. Trading Bitcoin and altcoins allow the trader an amazing opportunity to take advantage of outrageous price fluctuations that just aren’t seen in the traditional marketplace. For these reasons, day traders are currently flocking to trade cryptocurrencies.

Reference

9 ways to make money from watching videos 

Cryptocurrency Bat Earn Bitcoin By Watching Videos

 

How to Secure Your Cryptocurrency Wallet From Cybercriminals?

Do you know about the largest cryptocurrency as of today? Bitcoin is one of the well-renowned and largest cryptocurrencies introduced in 2009 by a mysterious entity named Satoshi Nakamoto. Bitcoin rose in popularity when its price reached its peak in 2019. Undoubtedly there are wild swings in bitcoin’s price […]

What Does The Future Hold For Cryptocurrency?

This time, the news of Bitcoin’s recovery has weakened out of context, and only those who are deeply involved in cryptocurrency and truly believe in the future of blockchain technology and its widespread adoption can discuss it. Maybe there is no frenzy this time because some people are worried that they will fall again. Maybe because this bull market can be a real deal.

Not only do they let others buy it to support it but they buy it themselves. Large companies such as Square and Galaxy Digital Holdings actually store millions of dollars in Bitcoin. This may be good news, as it means that Bitcoin holders at the demonstration may be reluctant to sell shares because they do not usually buy institutional investments for quick profits.

future of cryptocurrency

According to Deutsche Bank, the current monetary system is fragile. Deutsche Bank believes that the number of users of digital currency will exceed 200 million by 2030. In the report “Imagine 2030”, Deutsche Bank stated that the demand for anonymity and more decentralized payment methods will grow, digital currencies will eventually replace cash one day. Ilias Louis Hatzis is the founder of Mercato Blockchain Corporation AG and a weekly columnist for DailyFintech.com. Usually, at this time of year, we start reading predictions that the price of Bitcoin will reach one million dollars. I’ve never been a big fan of price predictions. Some do them right, while most do them wrong.

Price forecasts are about short-term gains and are usually variable. Recently, I saw an interesting prediction in the news. Deutsche Bank made a very bold statement. The German bank released a research report called “Imagination 2030”. The bank stated that cryptocurrency is currently only a complement to the current cash payment system. But over the next ten years, they may be replaced. Deutsche Bank predicts that the number of cryptocurrency users will increase fourfold over the next ten years to 200 million. For the first 20 years, this growth was almost the same as the Internet.

Although many regions in Africa have not yet adopted any drone-related laws, promising innovations are gaining ground. Medical drones have saved lives in Rwanda and delivered deliveries in just 15 minutes.

Professor Joseph A. Grundfest (Joseph A. As a former SEC and financial systems expert, Stanford University Law School Professor Grundfest has a unique position when it comes to commenting on the future of cryptocurrencies.

 

 

 

 

 

 

Reference

Cryptocurrency: Redefining the Future of Finance 

Laurent Leloup / Fintech & Blocktech Daily News 1970, Is Cryptocurrency the Future of Money?

What Does the Future Hold for Cryptocurrency?

What Is the Future of Cryptocurrency?

Why Mexico’s Second Richest Man Invested In Bitcoin

Video transcription

I bought Bitcoins around 500 dollar and then l saw it start going up, so I thought I’m a genius at investment.

His name is Ricardo, Salinas, Plego, the founder and chairman of grupo Salinas with a fortune estimated at 12.6 billion dollars.

He is the second richest man in Mexico. Not long ago, Salinas revealed that 10 of his liquid assets are in Bitcoin. That may look a little irresponsible in Latin American conservative business circles. It’s a joke, it’s made of air. It has nothing tangible to back it up.

You know you heard all the arguments, so what is the rationale behind Salinas massive Bitcoin allocation, and why is Latin America a promising market for digital gold? to find out join us in our latest coin telegraph interview.

What’s up everyone, l’m giovanni! Welcome back to another coin! Telegraph show today I have the pleasure to be joined by Ricardo Salinas founder and chairman at grupo Salinas. How are you doing today? Ricardo, I am doing very well.

Hello from Mexico to everybody, so Ricardo. I would like to know what was the first time you heard about Bitcoin well, it was, I was invited to a conference in New York city. I think it was organized by sap. You know the guys that do enterprise software and there were different sessions and one of the sessions.

This guy from grayscale showed up and he gave us the whole talk about Bitcoin and how he’s going to take over, and l thought man this is really interesting. It immediately attracted my attention, l said: well, let’s try it out and see what happens and l put in a small amount. It was trading at the 200 per Bitcoin, it was 2013, I didn’t understand this thing about the wallet and buying it in the exchange and so forth.

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It was very complicated. So what I liked about great scale, was they simplified it. Basically you’d put your money in a trust. Then this trust would do the investment they would take care of the whole thing they would take care of the custody they sent you, you know a monthly  statement.

Oh, that was a very good arrangement and eventually that that trust turned into gbtc, which is now an exchange-traded product. So I was very happy about it, but I’ll tell you the next part, which is very interesting. This was on the 1st of november. It was 200 and then l looked at it again on the 20th of november and it was already 550.

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So I thought I’m a genius at investment,  I said I want to add some more so added a lot more and stayed in there for all the way until 2017. We made a very nice trading, profit cool.  What is the property of Bitcoin that attracted your attention back then a digital asset that can be traded freely across the world.

I think that’s the most powerful thing you know um, because we have digital assets like fiat, currency, digital money, it’s very difficult to make that digital money or fiat money travel across the world. So if I have some pesos right now – and i wanted to send you – don’t know – a thousand dollars – we’d have to first sell those pesos buy the dollars, get the dollars, buy some euros figure out how to send their euros to Europe, and then you could collect your money over there very difficult, so I’m because we’re in the payment business here in Mexico, we’re really big in that it attracted my attention as a payment vehicle, but then I figured out that no, it was not the payment issue. It’s the store of value that really makes it valuable. So that’s where we are today, I’m a big believer in the store value function.

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Why do you think that Bitcoin is more valuable as a store of value than as a means of payment?

Because I think the the the payment application across borders is a fantastic application. I think it still has a lot of merit, but the thing is the volume of that for small payments is not important. I mean cross-border payments with big money is very important, but big money players are not into Bitcoin, so we have to focus on small players, small amounts and – and that’s not a big volume.

Payments is mostly inside the current the country inside the currency system. So, in that respect, the application is, is the application for Bitcoin in that environment is useless?

It doesn’t matter because there’s a very good way for me to transfer pesos from one individual to another inside my country right still, a lot of Bitcoin proponents say that Bitcoin has a great potential in the field of remittances, for example in the US. There are a lot of Mexicans working and sending money every month back to Mexico.

Don’t you think that that’s a great use case for Bitcoin, I think so, and it’s just a question of time. You know make people to adopt it. I mean the people who send money from the US to Mexico are not sophisticated customers. They are mostly manual workers trying to make a living in the United States, and they it takes a lot of effort for them to to win their dollars, and then they don’t have the means, I think,  to participate in a Bitcoin transfer scheme, but I mean it’s obviously doable and to the degree that that Bitcoin is easily available and accessible in the US to these people.

They could do that easily and we want to have in our banking system. We want to have a brokerage system attached to the bank, where we can accept and Bitcoins and trade them into pesos and also sell them, we’re working on all that. I just don’t see a big volume of it right now, but I think it’s it’s definitely going to grow so in between 2013 the year where you first bought Bitcoin and today Bitcoin experienced a lot of ups and downs.

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Did you ever lose faith in the asset?

Well, let me tell you that’s a very good and interesting story because, obviously, when I bought the coins around 500 and then I started saw it start going up, I mean I was going crazy because I thought that I had to sell them. I mean it was obviously ridiculous right. It so happened that this trust that greyscale had it was impossible to get out of it until a certain date. So through no merit through no merit of mine, I had to sit around until that date came, which was in february of 2017, and then I could take possession of the of the asset and and sell it.

It’s not because I’m a genius, it just happened that I was not able to sell it. I was not able to short it. I was not able to hedge it, so just sat around and I think it’s been a great investment lesson.

Okay, so you said that you gained back control of your Bitcoin investment in february 2017. That year later, we had the Bitcoin price skyrocketing and then it crashed, and then we had the bear market in 2018..

How did your attitude towards Bitcoin change during that bear market?

It was fantastic timing again and also through no merit of mine, but I think the peak was in December around 20 000 and then in fair in in January, when I got hold of the asset, it was 17000. I sold it at 17 000. and got out of it completely. I had a big party, I’m very happy.

It was all my best investments ever, but you know we always return to the scene of the crime right. So when it went down to ten thousand, I thought well now it’s more reasonable and I bought some of the at that time, and then it went down more to six thousand.

I bought some more and and that’s where I am where our average right now is around 9 000 and I’m not selling it. I think I’m going to sit around for another 5 or 10 years, so you recently revealed that 10 of your liquid portfolio is in Bitcoin. That’s a pretty massive position for an asset that is still considered by many investors to be highly risky and volatile.

Can you explain the rationale behind your portfolio construction?

Well, I always view my holdings as core holdings comprised of stocks in my companies equity in my company. This is my main position and that’s not for sale. It’s not for trade, it’s forever, so other than that stock portfolio. In my own equity, I have a good size trading portfolio that I call my liquid acids and I’ve always had those liquid acids mostly invested in in hard acids like gold, silver and precious metal miners.

That’s sort of been my my destination. I don’t trade in the high-tech stocks, the Nasdaq stocks, all the high flyers, the fangs, never touch them. I’m much more of a value investor, and so that’s why i have my liquid assets in the let’s call it hard money portfolio. So, for me, to take 10 of that and put it into Bitcoin is not a big deal. It’s just the position and hopefully it will turn out okay.

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Do you plan to increase your Bitcoin position in the near future when it drops?

I will certainly increase my position if it drops so, as reported by bloomberg your bigger listed assets, which is conglomerate group Electra Sab and TV Azteca slumped by 10 and 60 respectively this year.

Did your Bitcoin investments help to make up for some of those losses?

No, no, no, not even close, but you know again, those are my my main uh equity investments.

They happen to be quoted, listed, but they’re not for sale and at any price. So l’m not worried about the valuation of my my companies, I’m not in the stock selling business. I am in the money making business and as long as the companies continue to make money, we’re very happy okay, so my next question would be.

Why do you think that Bitcoin is so popular in Latin America?

I’m not so sure if it’s so popular in Latin America, but I mean obviously, what’s happened in Venezuela and Argentina where fiat money is collapsing and it’s become a scandal.

The way you see those wheelbarrows of of uh Venezuelan cash being thrown in the dumpsters, I mean it really opens your eyes to the problem of fiat cash. You know and most of our countries – I would say every country in Latin America has gone through some horrific inflation periods and it’s hard to forget that l mean there’s a lot of young people out there.

I’m 65 and remember what happened in the 80s. I remember very well and the the destruction of wealth and the transfer of value from the people to the government was was horrible and I think that creates a fertile ground for someone who who’s worried about preserving their capital.

Obviously this is a problem also in other countries, in Africa, for example, and in Lebanon. You know we have Zimbabwe, which is a basket case, and now Lebanese is a terrible thing, but this is what happens to fiat money.

You have been talking about Latin American currencies and also occurrences from developing countries, but what about the dollar?

A lot of our guests say that the dollar might face the same kind of debasement soon. What do you think about these predictions?

Well, the thing with the dollar is that, because it’s a reserve currency, a worldwide reserve currency, it has different kinds of rules, I mean, but the way they manage their central bank is like a third world banana republic. You know when internal credit of the federal reserve. More than doubles year over year I mean this is outrageous, it’s only because they’re Americans and they can get away with it any other country would have a massive depreciation.

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However, having said that, what is the competition?

Europe is doing the same thing and I’m not sure about Japan, I’m not sure about the numbers, but Japan has also increased the central bank balance sheet in a horrific amount.

So what we’re seeing is that all the fiat, the major fiat currencies, are being debased as we speak so having the dollar collapse against the other currencies doesn’t make any sense. What’s going to happen is happening.

Is that asset prices go up in terms of dollars and that’s why we see the booming stock market in the United  States?

I’m pretty curious to know what is the most common perception of Bitcoin among Latin American entrepreneurs. I think there’s not really a perception very, very few people know about this and you know it’s the usual. If you get into a discussion about it, people say well, it’s it’s a it’s a joke! There’s nothing behind it! It’s made of air! It has nothing tangible to back it up. You know, you heard all the arguments. People are the same across the world, they all say the same thing right. So in this kind of conversation with your peers, you are always the outsider right. Oh, yes, I’m very much used to being an outsider okay.

I’m curious to know what is your counter argument that you usually use in these conversations with your peers to defend Bitcoin?

I think the main confusion is people come up with this idea that, oh it’s not money so well, we have to go to definitions of what is money. You know money as a unit of account as a means of exchange as a store of value, and but anybody who studies monetary history knows that money has been evolving across time.

I mean that’s why I mentioned the book of the Bitcoin standard by this Lebanese gentleman cefedine and he has a really excellent chapter on monetary history and he takes us through how people used to have. You know big rocks as as proof of wealth, and then these rocks were traded and then how you go to copper and iron. People need to exchange stuff right and what they use to exchange is the most tradeable commodity, that’s within their reach, and that’s why gold and silver became very good instruments for trade they’re commodities.

They have some use and they’re highly desirable and they’re easy to exchange. So I mean, if you just consider that logic and the way that most of the world has now gone to an all digital money, bits and bytes in the ether i mean, what’s so bad about Bitcoin, it’s bits and bytes in the ether, but the big thing is it cannot be debased and it cannot be confiscated that easily it can be confiscated, but not so easily right.

So there’s got a lot of things going for it as a means of exchange. It’s actually a pretty good commodity to be used as a means of exchange. If you want to call it money or not, it’s totally personal doesn’t matter all right now, switching topic. According to a report published by intelligence, firm insights, the majority of the world’s illicit crypto funds ends up on Latin American crypto exchanges, and that is because, apparently, Latin American exchanges have very lacks kyc and aml procedures.

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Don’t you think that this trend could prevent crypto from establishing itself as a legit asset in Latin America?

That has nothing to do with know your customer in in anti-money laundering much less with terrorism financing. If this is just you know, the established governments don’t like Bitcoin, because it’s a competition to their fiat currency and they don’t like it and they want to get get them down. So that’s what’s happening and I think in terms of Latin America, I don’t think that there’s a lot of Bitcoin volume.

As far as I know, in Mexico, or in Venezuela or Argentina, I mean there’s got to be much less than what is traded in the us and europe. If you talk about volumes, so no I’m not worried about that. I just think that there’s a lot of hypocrisy by the establishment about this new currency being used for nefarious purposes, that’s just propaganda to try and derail the product.

Okay, so you don’t think that this illicit crypto activity could prevent Bitcoin to become a legit asset?

To become accepted by large investors and institutions in Latin America, I think there’s a big difference between being legal and being legitimate. I mean the asset is legitimate period. End of story, there’s no question about it. It’s an asset that you can buy. You can sell with the willing third party there’s no question about being legitimate.

Now any government waiving their magic wand of legislation can turn it into an illegal asset. And America again is a good example. I mean gold was a very legal asset until 1931, when it became illegal and criminal to hold goal. Judge the stroke of a pen.

Roosevelt did that so will it be? Will it be legal? I don’t know, will some governments try to make it illegal? Probably are we so concerned about that?

No, it’s just the way things are awesome, thanks a lot Ricardo that was a great conversation. Well, thank you Giovanni and hopefully, we’ll have a very nice Bitcoin year now that it goes over 20 000 any day. Now that was Ricardo, Salinas, founder and chairman at Group Salinas, I’m Giovanni your host, if you enjoyed the interview, don’t forget to like the video and subscribe to our channel.

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Reference

How to Earn Bitcoin Cash Income | Featured Bitcoin News

How to Earn Bitcoin: 5 Simple Ways to Earn More BTC 
Making Money on Lockdown: 5 Effortless Ways to Earn
Sick of Fiat? Here’s 10 Ways to Earn Crypto 

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