Purchasing Bitcoin and other cryptocurrencies on your own comes with risk. Here are the five most common cryptocurrency scams reported by customers of Bitcoin Wallet Recovery Services: 1: Fake mining contracts: “mining contracts” which offer fantastic payouts, such as doubling your money in 10 hours (see screenshot below). After sending the “mining company”
Storing Bitcoin should be simple. A Bitcoin wallet can be generated from a list of 12 or 24 pseudo-random words (the “mnemonic recovery phrase”). With some wallets, the same words will generate a valid wallet for most existing cryptocurrencies. This word list can be written on paper and placed in a
What’s the future of Bitcoin? How big will it get? What innovations can we expect in the future? Economist Tuur Demeester lays out the three phases of Bitcoin development.
Understanding how Bitcoin ownership works requires understanding what it means to “own” a single Bitcoin address. At a practical level, Bitcoin ownership means the ability to send some amount of Bitcoin from one address to another or to cryptographically prove that one has that ability by “signing” a Bitcoin address.
The recent explosion in the price of Bitcoin and other cryptocurrencies has inspired me to start a new hobby: helping people recover lost Bitcoin wallets. As might be expected of early adopters in an anonymous Internet cryptocurrency, many of my customers are information security professionals. It seems that many
Five years of living in China spoiled me in terms of financial transactions. Most people don’t use debit or credit: they either use cash or more commonly, send money electronically via mobile apps. Mobile wallet apps are often used for large payments, and your landlord or utility company is just as