Education

Becoming rich as a student through Cryptocurrency

Since its inception in 2009, the cryptocurrency market has created a lot of millionaires. Introducing the world to new set of technology that poses a threat to the traditional way in which we handle financial contracts. But digital currency in itself is not different from the traditional investment schemes like stocks and bonds. In fact, it has been proven to be a more unstable and volatile when compared its alternatives. Hence, the general opinion that it is a get rich quick scheme is not true. However, this does not in any way change the opportunities that exist for investors. Just like every other commodity, everybody with the right money can invest in it; including students.
So, how do you leverage these opportunities as a student to become rich?

  1. Buy/Trade a Cryptocurrency

 
As a student, your first option to getting rich trough cryptocurrency is by buying or trading in cryptocurrency. You have to own it before first. I know that students are laced with academic expenses and all that, but nobody got rich in investing without making sacrifice. You can start by investing your pocket money, or the little change you get when you do part-time work. There are a whole lot of exchange platform in which you can buy cryptocurrencies even in their smallest fractions. One of them is Coinbase, an exchange platform with a top notch user interface. It is unarguable the best exchange for starters in crypto buying and trading.
Now, when you buy cryptocurrency, you have to hold it till it appreciates. Or sell it when it is depreciating. But we all hope for appreciation, so you have to start by investing in cryptocurrencies with high prospects. However, you need to be careful as cryptocurrency is a volatile commodity. Heed to the number one advice in investment; do not invest more than you can afford. As a student, chances are you might not be able to invest much in cryptocurrencies in the top market index. You can start like the current Bitcoin and Ethereum millionaires started; by investing in initial coin offerings (ICOs).
Crypto projects raises capital for their tokens through the use of ICOs. They sell these tokens at a very low price, most of which are at no cost. After this, it begins to appreciate or depreciate. If you pick the right project ICO, changes are you can make over 1000% profit of your investment in a matter of months.

  1. Accept Payment in Cryptocurrency

 
Do you have things to sell? Are you currently working for someone? Are you being pad to tutor other students? Accepting cryptocurrencies for payment is a sure way to be holders. However, you have to take note of the currency that you are accepting. It is advisable that if you must accept payment, it should be with the cryptocurrency projects that are on the top five of the market capitalization list. Imagine a student that was accepting payment in fractions of Bitcoin over his stay in school for whatever part-time job that he was doing in 2014. Chances that he would own about 20 Bitcoins by the end of his stay in school are high. And then when you consider the bullish rise in Bitcoin during the years that follows, you will know that 20Bitcoins is a whole lot.
With a little research, you can find buyers and employers that are willing to pay and make transactions with cryptocurrencies. Your job however is to determine what the service you are offering will cost and its equivalent in the cryptocurrency that is being used for the transaction. You can also sign up for competitions that rewards with cryptocurrencies.

  1. Blogging

 
There are millions of people out there looking for the right information that regards cryptocurrency. Ethereum founder, Butterin was a blogger before he started his company. I am not suggesting that you become a blogger to build your own company; rather I am saying that blogging can make you rich with the right content. Owning a website and blogging requires little or no investment apart from your time and dedication.

  1. Start a Crypto Project

 
Yes! Ethereum is among many other cryptocurrencies that had their beginning stages rooted in when the eventual founders were students.  With the recent boom in ICOs and dApp platforms, launching your own cryptocurrency on an established blockchain like Ethereum has become easy. Now we have crypto coins in the healthcare sector, in agricultural sector, the educational sector and even the governmental bodies are not left out in it. Although we have to agree that being rich should not be your first concern when starting a cryptocurrency project. You could also start an exchange company you know?
There we have it, my super list of how to get rich through cryptocurrency. As established earlier, cryptocurrency is not a get rich scheme. Do not invest what you can’t afford to lose.

Why You Should Invest In Japanese Cryptocurrencies

The bullish rise in value of the cryptocurrency economy in 2017 was recorded to have been majorly influenced by countries from Asia. China for example was the biggest player in the Bitcoin market as it controlled 80% of the global trade volume of the creation of Satoshi Nakamato, but that was before the Chinese government started cracking down on digital currencies as a whole. If you can recall, you will be familiar with the famous ban on ICOs by the country which also triggered the closing of the biggest cryptocurrency exchange companies in the country. This led to China forfeiting their number one position, thereby giving other countries within the Asia continent to shine. Countries like Singapore, Indonesia and South Korea have cryptocurrency economy that is worth watching out for currently, but Japan among these countries has emerged as the next force.

World Power Status

Japan is an emerging world super power. Its national currency (Japanese Yen) in the cryptocurrency market is currently the second most traded currency, trailing just after the US dollar which is number one. As at January 2019, the Japanese Yen accounted for 57% of Bitcoin, and US dollars accounted for 28.4%. It is thus clear that although the US dollar is the overall leader in cryptocurrencies, Japan has overtaken China as the global leader in Bitcoin market. In April 2017, the government recognized Bitcoin as a form of payment. It then gave approval to about ten cryptocurrency exchanges companies to operate. The country even has a themed girl group called ‘The Virtual Currency Girls’. The Virtual Currency Girls is an eight member group whose members are representatives of eight different cryptocurrencies. All these developments are not as a result of chances; rather they are as a result of the approach in which the Japanese government has adopted in their dealings with cryptocurrencies. It is the first and only country which an institutionalized legal system that is regulating the trading of cryptocurrency, hence it provides the safety needed for investors who have nurtured concerns on trustworthiness of exchange companies.
 

Embrace of Cryptocurrency by Government

In macroeconomic terms, the embrace of cryptocurrency makes sense. Japan has taken time to recover from its so-called ‘Lost Decade’ of economic stagnation. Its relatively low growth and high savings rate make cryptocurrency an attractive option. While a trailblazer in tech development, Japan and its authorities are notoriously conservative when it comes to financial innovation. The government’s forward-looking attitude to virtual currencies may in fact be a reaction to that. The use of blockchain has given Japan an opportunity to shake things up a little and push local banks into more aggressive development. At the same time, the state’s proactive approach to regulation is also a way to keep crypto trading under centralized control.
Since the legalization, Japan has enjoyed what seems to be an endless cryptocurrency boom, with massive yields in retail investor interest and over-the-counter (OTC) services. Trading is not just their strong points as their trading companies are some of the best in the world; the country has also been a destination for testing of blockchain innovations. It is a general saying that most crypto currency start-up companies have higher chances of surviving through their first year if they have their market in the Japanese cryptocurrency market. They’re not just making strides when it comes to trading. Japan is also becoming an important testing ground for blockchain innovation. For example, the Japanese government in a bid to demonstrate their support for blockchain and cryptocurrency gave a go ahead for the partnership of Hitachi and Tech Bureau to build a blockchain system that runs on NEM-based Mijin Blockchain platform.
Currently, the issuance of ICOs is currently banned in Japan. And due to the regulation of the exchange companies in the country, the numbers of crypto coins that are traded in the market are limited. However, some of the top cryptocurrency companies in Japan include Coincheck, Bitflyer, Ginco, BitPoint, Tech Bureau and a host of others. Experts say that the best is yet to come for cryptocurrency in Japan as there are a lot of cryptocurrency projects that are being generated. With such backing from the government and a willing customer base reach, one cannot deny the fact that investing in Japanese cryptocurrency market is a gold mine.

HOW IS BINANCE FAIRING TODAY?

While Binance is one of the newest cryptocurrency exchanges available in the crypto market, it has quickly attained a high level of trust from its users and the digital currency community as a whole. Although the exchange fails to provide users with enough information on how the funds are being secured, we like to believe that security is treated on a serious note. The two-factor authentication (2FA) is available and it is always a reaffirming sight. It is however known that the platform offers a multi-tier system architecture.

Setbacks

Some hackers tried to pull off an audacious move which was detected by the automated systems in place at the exchange. For months the hackers had been said to be accumulating people’s logins via a phishing website and secretly installing API access on the affected accounts. After which they struck, converting all the victims’ altcoins to BTC and purchasing Viacoin, pumping the coin to a huge price and then selling their own supply of Viacoin at the high point. After which they withdraw the BTC to their own wallets. Luckily no one lost funds as the hack was detected on time and the only people to lose out were the hackers, whose funds would be donated to charity.
 
This hack was made possible by people entering their site logins and 2FA details into fake websites. Please, do well to always make sure you are on the correct Binance url before logging in. I recommend you bookmark the site and only use that to access it. Never click links from emails, Twitter, Telegram etc. As always, take safety precautions such as using a unique password for signing up, switch on 2-factor authentication and try not to hold a large balance on the exchange itself for too long – remember to withdraw your currencies to your own private wallet.
 

Aftermath

Nonetheless, this event has done a lot to instill confidence around Binance, not only did their automated processes detect the attempted hack before anyone lost any funds, they have since offered a $250,000 bounty to anyone who can help catch the hackers. Throughout this event, Binance acted exemplary and has been praised for their swift action in resolving this.
 
Binance is a popular cryptocurrency exchange which was started in China but moved their headquarters to the Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. While the company is still fairly new on the market it has managed to gain a lot of popularity thanks to its impressive number of Initial Coin Offering listings, professional attitude and also due to its low trading fees.
 
Recently, Binance began plans to launch their own Decentralized Exchange (DEX):The BNB digital asset is now an ERC-20 token, which will migrate as the native token of that network and be used for paying the trading fees on the new exchange
More to that is the fact that BINANCE is partnering with Neufund to build the world’s first Decentralized Stock Exchange. Alongside the Malta Stock Exchange, they are aiming to create a regulated and decentralized, global stock exchange for listing and trading tokenized securities alongside crypto-assets.
 
On the 16th of January 2019, Binance announced the launch of a new Fiat to Crypto exchange named Binance Jersey. The trading platform is live and active and allows you to trade in fiat currencies such as euros and pound sterling, with Europe being their target market.
Currently, it is one of the fastest exchanges available in the market (1.4 million orders per second). Additionally, the exchange works on all forms of devices, including web, Android, WeChat, and HTML5. Even Non-English speakers will be happy to know that Binance offers multiple-language support in Chinese, English, Korean and Japanese.
 
Based on everything that has been outlined so far, Binance is undoubtedly the leading Cryptocurrency Exchange and offers great fees and awesome digital currency support. Not only do they have one of the largest selections of coins to buy, but they are also the largest exchange by reported volume. Binance reportedly has access to abundant resources and partners, chances are that Binance will continue to evolve and offer great digital currency exchange services to its clients. We are happy to recommend Binance and have added it to our list of the Best Cryptocurrency Exchanges.
Moreover, they are well regarded in the cryptocurrency community for professionalism and security. While hackers have tried on countless occasions to breach their systems, they have remained one step ahead.

CRYPTOCURRENCY TAXATION

The truth remains that most people barely know anything about either of these topics. Moreover, the two subjects represent two vast opposites terms from a cultural perspective. And in the eyes of many persons, tax law represents excessive regulations laid down by the central government agency, which are imposed on its subjects. This is in itself is a contrast to cryptocurrencies and the associated blockchain technologies which stand for a decentralized, unregulated and free society not under the control of a central power apparatus. More exacerbating is the reality that the complexity of these two spheres increases.

Where is it taxed?

The taxation of cryptocurrency varies from place to place. For example, in the United States, cryptocurrency is treated like real estate instead of being treated as a currency – it is treated as a property. It is also treated as a commodity like gold in some cases, and therefore it is subject to both the short-term and long-term capital gains tax. In most cases, it is regardless of whether it is used for the purchase of goods/services or for trading/investment.
On the other hand, countries in Europe follow a decentralized approach to the regulation of cryptocurrency. The United Kingdom treats Bitcoin like a foreign Currency. In Germany, if Bitcoin investments are held for less than one-year, German income taxes will apply. In Germany, income taxes are progressive and can be up to 45%. Even in Switzerland, cryptocurrency taxes are levied. This implies that Swiss residents will have to pay income tax, profit tax, and wealth tax on their cryptocurrency holdings.
However though, in just about all European countries as well as in Liechtenstein and Switzerland, the sales of cryptocurrencies are exempt from the Value Added Taxes.
 
A special feature in Liechtenstein is the integration of tax on wealth into income tax, as well as the principle that a source of income is either subjected to wealth tax, or to income tax. This helps to prevent double taxation. This means that every natural person with unlimited tax liability will have to declare holdings of cryptocurrencies at the beginning of every fiscal year and convert the values to their Swiss franc equivalent. More so, speculative gains from trading in cryptocurrencies are tax-free and do not necessarily have to be declared. This is not only very attractive in terms of the tax burden, but provides significant administrative relief as well.

Guidelines

As seen from the official IRS guidance, 2014; we understand that:

  • Trading cryptocurrency to cryptocurrency is a taxable event
  • Trading cryptocurrency to fiat currency like the dollar is a taxable event
  • Using cryptocurrency for goods and services purchase is a taxable event
  • Gifting cryptocurrency is not a taxable event the recipient will inherit the cost basis. The gift tax still applies if you exceed the gift tax exemption amount.
  • A cryptocurrency wallet-to-wallet transfer is not a taxable event as you can transfer between wallets or exchanges without realizing capital gains and looses, so make sure to check your records against the records of your exchanges as they may count transfers as taxable events as a safe harbor),
  • Also buying cryptocurrency with USD is not a taxable event. As you don’t realize gains until you trade, well or make use of your crypto. If you hodl longer than a year you can realize long-term capital gains they are about half the rate of short-term capital gains if you hold less than a year you realize short-term capital gains and losses.

It is therefore established that anything other than buying, holding, or transferring a cryptocurrency is a taxable event and this means you realize capital gains and losses at fair market value at the time of the event when you trade, sell, or use crypto.

How to pay

You’ll need to be prepared to pay capital gains taxes thus you will need fiat currency at tax time.
For the average Bitcoin user;

  • If you trade cryptocurrency for a good or service, it is important that you keep record of the transactions and report a fair-market value of the currency at the time of the transaction.
  • For times cryptocurrency is traded as a capital asset, either for another cryptocurrency or fiat currency (like the US dollar), you would need to keep a record and report all those transactions by using the fair-market values of cryptocurrencies in situations where one cryptocurrency is traded for another. Also, at the end of the year, you would need to report all cryptocurrency transactions and all the related gains and losses. You would then pay taxes accordingly (based on your total gains).

HOW TO OPEN A NEW ACCOUNT ON OkEx

What is OkEx?

OKEx is a digital currency exchange with origins rooted in China. The exchange is a branch of OkCoin and it is geared towards more of professional traders than the ordinary trader, so if you are a beginner, this might be a tad bit difficult for you. OkEx offers a wide range of crypto pairs, making it an exchange with great advantage for traders. OkEx was founded in 2011, and it has since its inception become one of the top exchange platforms in the world in terms of volume of transactions. This implies that the exchange company has high liquidity in most of the trading pairs that it offers. It is also known for low trading fees which range from 0.03% and 0.15%; depending on the value involved. This makes it a preffered option when considering the cost of trading digital currencies. To cap it all, it is one of the few exchange companies that supports a desktop platform that is fully independent.

Opening a New Account

As established earlier, OkEx is more of a exchange platform for professionals. The steps given in this article might look strange but in all, it has been simplified in such a way that even a beginner in the trade can open account.

Step 1 – Visit www.okex.com


The homepage of OkEx is as shown above. It is advised that you bookmark this site on your browser for easy reference. Also, there have been reported cases where traders lose huge amount of money, just by missing an alphabet in a web address. Also, never click on unauthorized emails from this site. On the top right of the homepage is the ‘Sign Up’ button. Click on the button.

Step 2 – Sign Up

 

The sign up tab is as shown above. You are required to fill in your email first. After you have filled in your email, you are to enter your email code. The email code is a way of confirming that your email is authentic. So to get your email code, click on the ‘Get Code’ button just by the right hand side of the email code field. Your email code will be sent to your email immediately. Open it and paste it there, then proceed to fill in your choice password, confirming it on the field that follows. As always, do not be too much in a hurry to read through the terms of Use and Privacy Policies.  After you are done with all this, click on the sign up button.

Step 3 – Account Settings


Unlike most exchanges, the verification exercises on OkEx are different. Once you click the sign up button as directed on previous step, you will be taken straight to the homepage of OkEx that will look like the image above. At the top right is your email account written with a drop down sign. Click on the drop down feature and select ‘Settings’. Apparently, you have to set up a ‘Fund Password’.

Step 4 – Setting up Fund Password


In setting up Fund Password, you will need a Google authenticator. Google authenticator can be set up by downloading the Google Authenticator app straight to your smart phone. Use the app to read the QR code as shown below; on the Bind Google Authenticator tab. Note that there are a bunch of strings close to the QR code, those strings makes up your backup key which is used to reset your 2FA password, just in case you lost your phone.  It is advised that you keep this key stored somewhere outside your computer and if possible, off the internet. When you have eventually authenticated the QR code, your Google Authentication app will give you a code. Put this code where it should be and apply the same code that was sent to your email earlier on the Email Code field. The image is shown below;
 
Once you have proceeded past this stage, you can then set up your fund password, and then proceed to deposit tokens into your new account. Deposition can be done with fiat currencies through the use of bank accounts, and it can also be done through the use of  transfers from other exchanges.

HOW TO CREATE A NEW ACCOUNT ON COINBENE

CoinBene is one of the leading cryptocurrency exchange platform with operations around the world. it is designed to make it easier for anybody, everybody to trade in cryptocurrency in a trustless and worthy manner. Coinbene user interface is not different from other exchanges, and like the popular exchanges, it offers a wide range of cryptocurrency trading pairs.
The CoinBene website, in the company’s bit to make it accessible to anybody can be viewed in different languages. The default language is Chinese as its headquarter is in Singapore. However, you can choose from other language options like English, Korean, Spanish, English and Portuguese.
Creating a New Account
Creating a new account is easy but it takes time. To make it all easy, I have decided to give a detailed explanation; in words and in pictures.
 

Step 1: Visit www.coinbene.com


The Coinbene homepage is as shown above. To make things easy, make sure you bookmark this page. At the top right of the page are ‘Lon In’, ‘Sign Up’ and ‘Deposit’ buttons. Click on the ‘Sign Up’ option.
 

Step 2: Sign Up Button

 
The sign up tab is as shown below. You are required to fill in your email address and any password of your choice. Make sure you select the “Medium’ option in here. Before submitting your details with the ‘Sign Up’ button, make sure you go through the ‘Terms of Service’ to get acquainted with the contract between the company and yourself.

Step 3: Account Settings

 
From your account homepage, click on the section showing your email address at the top left of the page. A drop down menu will be displayed, select the account setting option and the tab below will come up.
Once you submit your details, an email verification tab prompting you to check your email address for a verification link will be sent to you. The format of the email is as shown below. Click on the ‘Email verification’ link to finish the confirmation of your account.

After clicking on the link sent to your email, the tab as shown below will appear, telling you that your Coinbene account has been successfully verified. After email verification, you will proceed to the identity verification.
 

Step 4: Security Set Up

 
For the 2FA security confirmation, you will have to install Google Authentication app.  For these settings, follow these steps:

 

  1. Click ’Set’ in the same row as ‘Google Auth not Set’
  2. The tab that comes up after the previous step is shown below, it will prompt you to check your email address. If you do see the mail, check the junk mail box. And if it is not there, click on the mail resend.
  3. The format of the email is as shown above. Click the “Set Google Auth” link that is in the mail.


On clicking the confirmation link, your browser will open a new tab as shown below.  Coinbene provides a QR code and security key, the key is meant to be stored outside your phone in case you lose your phone.

The steps for the Google Authentication are as given above. But for clarification, make sure that  you have Google Authentication app installed on your mobile device. You can get it from any of the app store of different OS platforms. When you download it open the app then scan the QR code, or enter a security key consisting of a sequence of characters as shown above. After doing this, look at the Coinbene account section of app with a six-digit code, enter it at the “Verify Code” field and click “Ok” to complete the verification.
Note: The six digit code expires every 30 seconds. So you have to be fast about it.
When you click ‘Ok’, you will be returned to the Account Setting page. And if your Google Auth Set was successful, the ‘Set’ that was at the right hand side will now be ‘Reset’. You don’t have to worry about the phone number setting because Coinbene currently has only two international phone codes.  Your next step is the Pin Verification. Click on ‘Set’ on the ‘PIN’ option.

Step 5: Pin Verification


To be able to perform transactions on Coinbene, you need to set a PIN. Open the Google Authenticator security app, put the six-digit code in the “Verify” box, then enter any PIN of your choice in the “PIN” box, then click “OK” to finish. Make sure you write your pin somewhere safe.
 
Congratulations, you have successfully opened a Coinbeme account. The tab below will come up after you have set your pin.

HOW TO CREATE A NEW ACCOUNT ON BITSTAMP

Bitstamp is a cryptocurrency exchange website. It is one of the oldest and most trusted cryptocurrency exchanges in operation today. Since its inception in 2011, it has continued to build its base upon its large European users. But it has not failed to take steps in becoming one of the best choices for cryptocurrency traders around the world. Its office are scattered round different locations and it provides trading solutions to different clients spread across the world. Bistamp was founded by Damijan Merlak and Nejc Kodrič in 2011, and they have not failed to in time memorial to reiterate their aims which is to provide a service that will cater to a European client base, offering an alternative to a market that was had Mr. Got dominating it as at the time of its inception. It started in Slovenia, then they branched out in 2013 by setting up an office in UK. Then in 2016, they opened another branched office in Luxembourg. From 2016 till now, they have opened offices I London and New York.On its trading pairs, Bitstamp is currently focused on providing access to the most popular cryptos. Its trading market features Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC) and Ripple (XRP).

Creating a New Account

Creating a new account on BitStamp is quite straight forward. It requires fewer verification processes hen compared to other exchanges.

Step 1 – visit www.bitstamp.net


 
The homepage is as shown above. Bitstamp is ready for business, hence your first point of contact on the page will be the ‘Get Started’ button, click on it to kick-start your registration process.

Step 2 – Creating your account


As seen above, the title of the tab is titled ‘Open Your Free Account’. The fields on this tab require that you fill in your original names, your email address and your country of residence. It is advisable that you use an email address that has not suffered previous malware attacks. Also, do take few minutes of your time to peruse through the Terms of Use and the privavcy policy of the exchange website. This will prevent you from making mistakes and it will also keep you informed. After the filling the necessary requirements, click on register.

Step 3 – Email Confirmation


When you eventually click on the ‘REGISTER’ button, the tabe shown above will pop up, notifying you that an email containing your customer ID and password. The format of the email is as shown below;

After retrieving the ID and password from your email, go back to the homepage of Bitstamp but this time click on the log in button. The member log in tab is show below. The password that will be sent to you will be kind of complicated, so to ease your registration, just copy and paste it on the password tab. As you can see in the mail, emphasis is laid on the need to change your password after you have successfully logged in.

Step 4 – Change You Password


You do not need to hover around pages to change your password as you are immediately prompted to change your password once you log in. Under ‘Current Password’, type in the password that was sent to your email, and if you had copied it before, just paste it. The field that follows after that is the one for your new password and for retyping that same password. Note that your password must contain a minimum of one lower case and one upper case character alphabetical characters. And it must have one numerical character. If your password does not in any way correspond with these conditions, you will receive an error notice prompting you to comply.
After you change your password, another email will be sent to you.

Step 5 – Log in again


When you change your password, you will be redirected to the login page. Stick with the original user ID that was initially sent to your email, but use your new password. Click on the ‘log in’ button and voila; you have registered for Bitstamp. You can thereafter proceed to linking your bank accounts with your new account.

HOW TO OPEN AN ACCOUNT ON BITTREX

 
Bittrex is a crypto-to-crypto trading exchange. It was founded in 2014 by Bill Shihara, Richie Lai, Rami Kawach and Ryan Hentz. Its head office is in Seattle, Washington. About 193 are listed on this exchange platform with over 290 unique trading pairs.
Opening a new account
Opening a Bittrex account requires a lot of patience. Do not be discouraged by the numerous screenshots, it is not that difficult.

Step One – visit www.bittrex.com

 

The home page of Bittrex is as shown above. Take note of the spelling of Bittrex because there is a similar website with the name bitrex. To save time, simply bookmark this page on your web browser. On the home page as you can see is the ‘Explore Markets’ and the ‘Sign Up’ buttons. We are going with the latter, so click on the sign up button.

Step 2 – Sign Up


In the sign up tab, there are fields that requires you to fill in your email address, passwords and the confirmation of the password. It is highly recommended that create a password of 12 or more characters which is made up of alphanumeric characters. Make sure you read the Terms of Service before you check the agreement box that is below the ‘Confirm Password’ field. The click on ‘Sign Up’.

After you have clicked the sign up botton, the next step is to confirm that you are not a robot. Follow the instruction given in the exercise to go to the next level. This exercise might repeat itself for about three times. How about a quick amazing fact? This particular exercise is used to train AI algorithms.

Step 3 – Email Confirmation

You are notified with a tab similar to the one below that a registration email has been sent to the account email. Go to your email to retrieve the message.

 
The subject of the email will be Bittrex Account Verification, it is as shown below. Click on the link in the email or simply copy and paste it to your browser. The ‘EMAIL VERIFICATION SUCCESSFUL’ tab comes up on the link. Click on ‘Login’ to log into your new account.

Step 4 – Log In


On the log in tab, enter the email and the password you registered with earlier to log into your account.

Step 5 – IP Address Confirmation

When you log into your account for the first time, you will be required to verify your IP address. This is a security measure aimed at preventing unauthorized access into your account. This is not a onetime thing too, you will be required to do this verification every single time that you log into your account with a new IP Address. The tab for IP address confirmation will require that you go to your email which will have a message titled ‘Bittrex New IP Address Verification’. It is shown below.


Click on the ‘CLICK HERE TO LOGIN’ link on your email.

Step 6 –

 
The log in tab will come up again. Enter your email and password once again. After which the robot check exercise will come up again. Once again, just follow the instructions on the tab to proceeed.

Step 7 – Verify your personal information

To be able to trade on Bittrex, you will have to verify your personal information. To do this, click settings on your homepage; it is at the upper right corner of the homepage of your newly created account. The tab shown below will load after you have clicked on settings, after which you are to click on the ‘My Profile’ option.

Complete all the fields in this tab. Then click on ;Submit’

Step 8 – Uploading Documents

After submitting the details in the previous tab, the age below will load. Click on ‘Start Verification.
The verification processes will require the use of a good camera, luckily your phone is good enough. The Passport session requires a selfie from you, the Identity Card session is for a government recognized ID card and driver’s license is what it is. Once you have uploaded all these files in jpeg forms, you can then chill and wait for verification. Verification time varies, sometimes it takes minutes and other times it takes days. Should there be error, you will be notified.

HOW T0 OPEN A BITPANDA EXCHANGE ACCOUNT

What is BitPanda?


 
BitPanda started in 2014 as Coinimal GmbH, and since its inception, it has gone through a series of rebranding which eventually made it evolve to what it is today. It has over the yearsgrown into Europe’s leading retail broker for Bitcoin, Ethereum, OITA and more. Plus it boasts of over Nine hundred thousand (900,000) users globally.
Bitpanda according to expert traders and data available is one of the fastest exchange platform there it. It is relatively reliable as it provides a streamlined user experience, and gives users more control over their portfolios. Bitpanda also enables new users to buy and sell cryptocurrencies easily. In terms of security, BitPanda as a company has one of its building blocks in security. And to cap it all, with BitPanda, you can create as many cryptocurrency wallets as you need. These wallets range from the normal Bitcoin wallet to other wallets provided by other altcoin projects. BitPanda is a Fiat to Cryptocurrency trading platform, this means that you can link your bank account tur Bitpanda account. And you can purchase cryptocurrencies using payment options like Mastercard, Sofort, Giropay, eps, etc. The trading fees are relatively cheap with a lifetime offer of free transfer fee for transfer of funds within the BitPanda platform. That is, transfer from one BitPanda account to another is free.
Let us quickly run through a step-by-step guide on how to open a BitPanda account.
 

STEP 1: Go to www.bitpanda.com

On the header of the Homepage as shown above, click on “sign up” which would immediately direct you to the registration page.
Note that If you are making use of a mobile device, quickly download the free mobile app on google play store or apple store depending on your device type a continue with the steps, but if you prefer using your browser go to www.bitpanda.com
 

On your mobile device, click the “Menu button” On the top-right-side of the homepage to show a dropdown menu
 

Click on “sign up” which also would immediately direct you to the registration page.

STEP 2: Registration

On the registration page, write your email address in the space provided, solve the captcha correctly and click on “Register” as shown below
 


STEP 3: Confirm Your Email Address

To continue your registration, an email will be sent to the email address you entered in “step 2”, clink on the link provided by BitPanda as shown below.

 
By clicking the link, you have therefore confirmed your email address, then you will be directed to a page where you will finalize your registration.
 

STEP 4: Finalize Your Registration

In this step, you are required set your password. Here, you are advised to use a secure password with at least ten (10) characters that contains at least one uppercase letter, one lowercase letter and one number.
You are also expected to read the Terms and Condition and accept it. Then click on “Finish Registration”

 

STEP 5: Log into Your Account

By clicking “Finish Registration” you will receive a confirmation indicating a successful registration, you can now login to your account. You are to use the email address and the password you set during registration to log in.
Solve the required captcha correctly and click on “log into account”

Once you log into your account, you will be redirected to your cryptocurrencies wallet (Bitcoin, Ethereum, dash and Litecoin) where you can use your BitPanda wallet sell coin after verification and you can start buying currencies by creating a deposit addresss.

Cryptomedia News this week

 
What has been happening in the world of Cryptocurrency of late? Well, there have been the usual speculations and other news. Again, we have compiled five of the best cryptocurrency news that made their rounds on the Internet this past week.
 

Hackers are stealing computer power to make millions in cryptocurrency

Guillermo Suarez-Tangil at King’s College London and Sergio Pastrana at Madrid’s Carlos III University analysed more than 4.4 million malware samples that were used for cryptojacking between 2007 and 2018.
The pair found cryptojacking had generated an estimated $57 million worldwide since 2007, with the top-earning gang minting $18 million worth of cryptocurrency
 
Personal comment– it is quite pathetic that this trend of cryptojacking is one that is still making waves. For every reader and investor of cryptocurrency, there is the need to be very vigilant because these hackers are vicious. On a personal level, we would be looking forward to the measures being taken by cryptocurrency teams in order to battle this trend
Source- https://www.newscientist.com/article/2190435-hackers-are-stealing-computer-power-to-make-millions-in-cryptocurrency/

Cryptocurrency Markets Plunge 11% in a Single Day

Just when things were looking positive for 2019, and cryptocurrency markets were making a slow recovery from their December lows, the bears came out in force and smashed them to bits over the past 24 hours.
Over $15 billion has been lost from crypto assets since the same time yesterday resulting in a daily crash of over 11%. There were two separate dumps each occurring over about an hour as the tsunami of bears beat the hell out of Bitcoin and its brethren.
 
Personal comment– This is certainly not a good news for any cryptocurrency investor. I personally witnessed the downward trend and felt it does not spell well for the industry. However, I believe that many long term investors will still regain their profits as opposed to short term investors. I believe there are better days ahead
Source- https://ethereumworldnews.com/cryptocurrency-markets-plunge-11-in-a-single-day/
 

Cryptocurrency adoption prohibited by Indian banks

The Reserve Bank of India, India’s central banking institution had prohibited the banks of the country from providing any assistance or services to cryptocurrency business. Following this, the banks in India are taking things one step ahead by asking customers to sign contracts stating that they will not use cryptocurrencies of any kind as a part of their new terms and conditions of service agreements.
 
Personal comment: The battle for the acceptance of cryptocurrencies within every nation will always be very difficult. Within India, though the Federal Government is slowly accepting the currency, the traditional banking industry is fighting against it. However, Cryptocurrency is the currency of the future and this means that it won’t be long before victory comes.
Source- https://ambcrypto.com/cryptocurrency-adoption-prohibited-by-indian-banks-force-customers-to-sign-contract/

South Korea Government Approves Seven out of 21 Cryptocurrency Exchanges’ Security Policy

Some of South Korea’s biggest cryptocurrency exchanges have passed a government security audit, but the majority could be exposed to attacks, local tech news outlet ZDNet reported on Jan 10.
Bithumb, Coinone and Korbit, in addition to four other major exchanges, satisfied investigators during the audit, which took place between September and December 2018.
 
Personal comment– How odd is this news, in the previous news source we saw a resistance to Cryptocurrency, however, we can see that another country is accepting the coin. The significance of this act by the South Korean government is great as it gives more credence to the industry. Ultimately, the remaining 14 cryptocurrencies would need to go back to the drawing board in order to convince the South Korean government. We should also give thumbs up to the government.
Source: https://cointelegraph.com/news/south-korea-government-approves-seven-out-of-21-cryptocurrency-exchanges-security-policy
 

Cryptocurrency Ransom Demanded for Wife of Norwegian Tycoon

The wife of a wealthy Norwegian businessman has been kidnapped, and demands have been made for a hefty ransom paid in cryptocurrency, the police revealed this week, as a drama that had been playing out secretly for months burst into public view.
A scarcely decipherable ransom note was left for Mr. Hagen, containing death threats and requests for large quantities of Monero, an unregulated cryptocurrency that is known for anonymous transactions.
 
Personal comment– Sadly, this is one of the worst news of the week. This is the kind of news that makes governments to recede in their acceptance of Cryptocurrencies. Because of the fact that it is difficult in tracing the coin, many security analysts would jump on the bandwagon of condemning cryptocurrencies now. However, we hope that she is recovered in good shape and the kidnappers are caught.
Source: https://www.nytimes.com/2019/01/10/world/europe/norway-kidnapping-monero.html