Which 3 Unique Crypto Technologies Cought Your Attention? Crypto News!

in #crypto • 7 years ago (edited)

The rabbit whole...

I was a little absent lately.. I went a little deeper into the rabbit hole.. the crypto rabbit hole!

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I already knew a little bit about Bitcoin(BTC) and the blockchain technology behind it, and invested in some BTC and some other altcoins awhile ago. But because of discovering steemit and loving it so much, most of my attention was mainly focused towards this platform lately. I tend to find it difficult to focus on too many things at the same time so I didn't go deeper into research about trading cryptos and just kept every holding for long term.

As time passed by(almost two months now) I started to develop a craving to learn more about trading cryptos and to research some more coins and their technologies, hoping by learning to trade I could make a little extra that I hopefully can invest later on the steemit platform to help it grow. So like I always do I started to do a lot of research before taking big steps into this "uncharted territory"...

After my absence I now would like to share some interesting information with you that crossed my path down this rabbit hole...

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P.S. I don't have any affiliation with any company, this information should not be viewed as trading advise.
I simply want to present you interesting information about certain technologies and coins.. always do your own research for trading and don't blindly follow other people's advice. In fact you should try to apply this to any information in life :)

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Combining all your exchange accounts in a very useful trading platform

I found a trading platform named Coinigy, which is a very useful tool for fast and easy trading on different exchanges.
Basically what it does is, by creating API keys on your exchange accounts (for instance on bittrex) you can then use these keys to add a new exchange account in Coinigy. The only downside of Coinigy is that you have to pay (15$/month) if you want to keep using it after one month. But since the first month is for free I was thinking "why not check it out."
If it helps me a lot in the first month to make some more BTC then I could consider to pay for the second month.. until now I am very happy with it.

Once you created an account they send you tutorial movies every few days to help you learn the basics of trading on the platform.
Here is a video on a more detailed explaination on how it actually works:

The psychological side of trading

Once you step into the trading world there is a very important rule you should try to follow!

Don't let your emotions guide your actions!

Sort of a reflection of real life isn't it?...haha..

For example FOMO (Fear Of Missing Out) is one of the emotions that can make you lose money. For instance you are looking at different coin charts you are interested in, and notice one of the coins you wanted to invest in, but still haven't, is shooting up like a rocket and you decide to jump in on the action. You are probably already too late and buying in when it has almost reached its high point and will start to fall again soon.. This leaves you with a coin you bought in at the high price and when you start to see it falling and falling... after awhile you could panic and sell it with a loss!

Let's watch a video from Chris Dunn's youtube channel, he explains these situations really well! With a lot of helpful tips


I hope this video was as helpful to you as it was to me, Let's move to the next thing..

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Civic coin with its high level encryptions and biometric locks

I have read the white paper of Civic coin because I had heard it is very easy to understand and it's still seriously undervalued!
My conclusion after reading this is paper is - AMAZING technology!
This white paper is a must read not only if you are looking for a long term investement but simply because this incredible technology can solve a lot of problems we have today with ID verification services and the increasing problem of identity thefts.

Brief explanation

Right now there is a lot of digitization taking place in the business world, companies and services keep your ID records online more and more. This has its advantages (f.e. reducing costs) but the downside of this is that sensitive data can easily be stolen by hacking these companies and copy/pasting documents. That is why sensitive sectors like government and health sectors cannot switch completely because they have to handle more sensitive ID information.

The problem with this "old school" way of paper work for creating ID documents is, that it is very inefficient and comes with financial costs!

A lot of people in developing countries don't have the financial backup to get the right legal ID documentation which leads to a lot of social problems. Last year 1.5 billion in developing countries people lacked proof of legal ID, of this 1.5 billion there are 172 million children under the age of 4!

No ID means:

  • No bank account,
  • No travelling with airplane,
  • No legal job,
  • ...

Since most of the services today require a bank account.. you can probably guess it must be a hard struggle for these people.

Civic coin uses the blockchain and smart contracts to create an easy almost cost free solution to this.

A simple example of one of the main features

Your ID information is on the Civic app and is protected with high level encryption and biometric locks(finger print lock) and say for instance you want to get a car insurance. By scanning a QR code of the car insurance company with the Civic app you will be able to see which information exactly they need from you. If you agree with this you can release this ID info to the company. This can only be released with your finger print on your phone. The same for payments, you will be able to do crypto transactions with the finger print lock. You can also use this app to make an account on one of the partner websites and login with your fingerprint.
No more hackable usernames and paswords!

This was only a very simple example, there is a lot more to it then this. If you think this is a cool feature and you're interested in this kind of technology I really advise you to read the white paper. You don't have to be an engineer to understand it, it's very clear reading.

Other interesting coins...

...wealth generators you say?

There are coins out there that have masternodes (PIVX, DASH, CHAINCOIN,...). If you buy a certain amount of coins from one of them you can set up a masternode for them. This masternode is a kind of server that performs certain things on the blockchain to stabilize their network (info from chaincoin's masternode) and you would get rewarded for running a masternode. In other words you get paid for holding a certain amount of shares!

The problem is...

...that you need a lot of money to buy this certain amount of coins. If you are like me you probably don't have this kind of money. But the good news is there is one very interesting coin that has something similar but you don't need a certain amount of coins, any amount will do...

Which coin are you talking about?

Neo a wealth generator?

Yes... Neo former Antshares has something similar. I haven't read their white paper yet but what I know about it is, that it is the first public chain of China. The technologie is something similar to Etherium working with smart contracts, but a better version of it, China's Etherium! There are speculations that it could easily go to Etheriums price when companies start to use the neo platform and their tokens. Please do your own research first I still have to do more myself but is sounds very interesting and has interesting possibilities.

If you have Neo coins the only thing you need to do is go to the site, go to the download page and install one of the desktop wallets. If the setup is done you just transfer your coins from the exchange to the wallet and watch your Neo GAS come in daily. It is like a bank account with a very good amount of interest.

I will let Crypto Bud do the talking in this next very interesting video about neo's possibilities.

Siacoin the cheapest cloud storage in the game

Short explanation of what I read:
There are many cloud storage servers in the industry, but what makes Sia unique is that it is 10x cheaper than all the rest out there.
A decentralized, blockchain based cloud storage that suppose to be untraceable. Every file you store on the cloud gets shredded into peaces and gets distributed over the network. When you need to open the file again, the pieces get reassembled.
For now they are mainly focused on working on the project instead of marketing apparently. The big aim for them is big companies. Once they catch a big fish it could possibly shoot up like a rocket.. maybe we should keep an eye out for it... What do you think about Sia?

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Thanks for reading if you made it until here 🛐 if you have anything important to add, or if some info is incorrect, feel free to contact me in the comment section. Are you engaged in the crypto trading world? Have you found interesting and unique new technologies? Feel free to comment!

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Courtesy of images 1,5,7 Youtube videos 3,4,6

Graphic designs are done with the website https://www.canva.com/ and all non-sourced images are 100% my own work.
The GIF image is the designed by @pulpworx

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I am a member of the minnowtowhale team, thanks to @joerocketfilms. If you are new to steemit and want to become a member to help each other grow and participate in the community go here for guidelines, and go to the discord channel and talk to @joeyrocketfilms in the team minnowtowhale channel https://discord.gg/Xuw5DF
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I would like to leave you with some amazing talents I discovered until now and their Pieces Of Art!

Friends

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#trading #blockchain #minnowtowhale #cryptocurrency
7 years ago in #crypto by
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     7 years ago  

    I'm really zero about all these cryptoworld my friend, but thanks for your full of info post, i will have to read it with a relax head and really put my head into this world as soon as possible!

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     7 years ago (edited) 

    Hehe :) no hurry my friend, we are just at the early beginning stage of an evolution. The time will come when you are ready

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       7 years ago  

      This post is filled with incredible content, and it looks amazing! Civic coin sounds really cool! I just loaded up on Siacoin. There are so many coins out there that it can be overwhelming. I try to focus on coins that make life easier or cheaper for people and that I think are cool as well. I have to personally like what a coin is doing. There is more to it than just making money. I feel that you should feel proud to put your money into a project as well. Thanks for all the tips and tutorials that you put in too! I am learning a lot from you. Thanks!

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       7 years ago  

      Thanks for your compliments :) I feel the same about it, I like to find projects that really speak to me to support, and on side try to make some extra with other coins so I can support steemit more, that is what I want to try at least :)

      So much going on in the crypto sphere, amazing things!

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         7 years ago  

        Excellent post....Did not hear about Civic before so I intend to dig a bit further thanks to your post. The idea is great because it can be extended so much. I was actually thinking to myself - what if identification grows beyond borders and state? That is you do not need an officially recognised ID document or passport by any state but something recognised anywhere thanks to blockchain tech? (and of course assuming a growing number of countries would be accepting this in future). The dream of finally becoming a world citizen instead of someone limited by one's country beauracracy. Mmhhh....just a thought.

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         7 years ago  

        What an awesome thought that is! It would be a dream becoming reality :) I already consider myself a world citizen anyway.. Thanks for dropping by and your nice comment my friend!

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           7 years ago  

          XVG, STEEM, DIM COIN

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           7 years ago  

          This post received a 1% upvote from @randowhale thanks to @mitchiesfoodrace! For more information, click here!

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           7 years ago  

          So much is happening in the Cryptoverse. It is really hard to keep up with but, I honestly believe this is a revolution in its early stages.

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             7 years ago  

            I believe so too my friend :)

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               7 years ago  

              This post has received a 0.76 % upvote from @booster thanks to: @mitchiesfoodrace.

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