Cryptocurrency

Changelly

admin — Tue, 27 Feb 2018 09:11:58 +0000

Changelly

This is probably the most popular cryptocurrency exchange that we will be covering in this article. At least around my place, the reputation and the regards of Changelly are sky-high!

Changelly is a crypto exchange by the renowned mining pool MinerGate. It is a pool with a great sheet of quality on the blockchain. Hence, reputation is at its best when we talk about Changelly.

Now, it is one of the simplest, yet one of the most interesting platforms that I personally use for my daily crypto trading and exchanging!

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“Fees and Discounts on Changelly”

The fees on Changelly are actually commissions. For every trade transaction completed, the company will charge you 0.5% of the total amount. This is a minimalistic amount and the perks you get in return are massive! So, let’s call it a win-win situation. In addition to this, the user also pays a miner’s fee which is directly deducted from their account.

Sandra Lee

Buy Bitcoin With Visa or MasterCard

Buying bitcoin and other currency with Visa or Mastercard has not been possible for a long time, but now its possible. Changelly has opened up new and exciting way to buy bitcoins and other crypto currencies with the use of Visa or Mastercard. Its simple and the whole process takes few minutes. With millions of users worlwide you can trust changelly to buy your next bitcoin or cryptocurrency with credit cards. Check out more on how to buy bitcoins with Visa Below

Registering with Changelly

The registration process for Changelly is not as complicated as the other 4 that we are talking about. You just need an email ID and start exchanging right away!

In order to sign up, just click this link here and provide your email address. You might be asked for human verification so make sure to do that. After that the system will guide you to sign up and you’ll be done before you even know it!

How to use Changelly

Binance

admin — Sun, 25 Feb 2018 11:14:12 +0000

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Binance

Binance is one of the most interesting crypto exchanges that is open to almost all countries around the World! Let’s look at some reasons why we put it in our “top 5 bingo book”:

Binance has a unique coin BNB. If, you are on Binance and working with BNB, Binance will offer you unique discounts. From the perspective of a trader, folks their offerings are pretty decent.

Another plus of having Binance as your crypto exchange is the number of offerings by this company. Currently, Binance has more than 140 altcoins listed on it and more are coming this way! Hence, if you want a huge portfolio of the crypto biggies then Binance is what you are looking for!

“Binance Fee Structure”

Folks! Binance is a very innovative company. So much so, that even their fee structure is unique. To start with, Binance provides a 0.1% standard trading fee. This fee is quite less than its other peers. Moreover, the pricing strategy of Binance is even more lenient if you work with BNBs. If you are paying your trading fee in BNBs, then you’ll have this plan.

Sandra Lee

Registering on Binance

For registering on Binance, head out to the link here. Once you fill in all the details, you will see Binance’s main page where you will get the deals.

Binance Has a Mobile App Too

Another interesting thing about Binance is that the company has its own mobile app too! So, if you are a crypto geek who is constantly on the move, then Binance is a trustworthy company, that goes wherever you go!. Now how convenient is that!

Binance

Binance is one of the top cryptocurrency exchange that focus on crypto-to-crypto trading. The digital platform has started to gain popularity in the blockchain community thanks to its impressive coin offerings and insanely low trading fees.

Binance

Ripple (XRP)

admin — Fri, 23 Feb 2018 09:10:03 +0000

What is Ripple ?

Ripple is a digital currency that connects banks around the world and allow them to offer real time cross border payment systems to their customers. Currently the cross border transactions require many intermediaries to execute, so the settlement takes days. This often creates cost and risk that make it difficult to meet today’s market demand.

Ripple enables crossborder payments to execute directly between banks within seconds and provides the banks end to end visibility throughout the whole process. Ripple is infrastructure technology banks can adopt to power new payment serveries, like low volume retail and corporate payment.

How Ripple works

The Ripple ecosystem consists of two main technologies The first is the Ripple protocol which is an open source protocol for inter-institutional transactions. The second is XRP, which is the native currency of the Ripple network. And can be used as the denomination when transactions are initiated on the Ripple network.

Hence, Ripple is a cryptocurrency that aims to revolutionize the present Global Settlement Network through cheap, decentralized and efficient (fast) means.

Ripple technology

Now, if we realize that despite numerous advancements in the technology, the infrastructure for global settlement is highly backwards. Hence, the concept of Ripple comes into play. With Ripple, a new infrastructure comes with a better reliability and speed while reducing the costs.

Therefore, Ripple is aims to replace the use of traditional payment protocols and costly systems such as the Western Union and SWIFT.

There is no such thing as Ripple mining. And, without the presence of Ripple mining, the amount of XRP that is on the Blockchain will not deviate.Hence, the Ripple price will not be as volatile as its brethren cryptos!

What is Ripple

Find out indepth information on what is Ripple. We dig deeper into it

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How Does It Work

Find out indepth information on how Ripple work. The nitty-gritty of it

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How To Use It

Find out indepth how to use Ripple online. Whats involved in it and what you need

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Where To Buy Ripple

Find out where to buy Ripple even if you are based in New Zealand.

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How to Buy Ripple

Everything you need to know on how to buy Ripple.

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What You Need To Buy Ripple

List of all the things you will need to buy Ripple.

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Overview

Ripple (XRP) is quite new in he crypto currency market. The technology behind ripple has been adapted by some of the worlds largest banks to simplify and offer real time cross border payment systems to their customers. Ripple is here to stay and it will change the way we pay and receive payments across borders.

Zcash Mining

admin — Mon, 19 Feb 2018 09:37:09 +0000

Zcash Mining

Zcash is an anonymous currency. For beginners, it is a cryptocurrency that ensures that businesses can work over the blockchain.

The working of the zcash is very simple. It encrypts the contents of the transaction before broadcasting them over the blockchain. Therefore, the personal data about the transactions is safe before the blockchain is updated.

Hence, the zcash is a crypto that ensures that users and businesses are safe through implementing the system of privacy.

In this section we will look at what is Zcash mining, who it works and how you can get started mining Zcash from home.

How Zcash Mining Works?

The zcash works over the Equihash as the zcash mining algorithm, making it a memory-hard cryptocurrency. By talking about memory-hard cryptos in zcash mining algorithms, we make sure that the Application Specific Integrated Circuits (ASICs) are no more feasible.

You can use the cpu mining zcash. Or, you can also trust the best GPU for mining zcash. Obviously, there will be a low speed on the cpu, while you will experience a high zcash mining speed on the GPUs. Therefore, we prefer that you build the best GPU for mining zcash instead of the CPU mining zcash.

Here, we will give you some general instructions based setup like you are viewing a zcash mining tutorial.

You can use specially built mining hardware out of Graphics Cards

Zcash Mining Process

In terms of processing, here is how you mine zcash:

Set up a rig and a wallet
Connect your rig to your system

Download a mining client. Claymore is an example of such mining clients

Sign up
Mine through packages

This is the way you can adopt in order to start mining cryptocurrencies. An optional step is to sign up for the mining pool so that you can mine more complicated blocks faster.

What you need For Mining Zcash

Zcash Wallet

A wallet keeps the cryptocurrencies you own. Additionally, there is a layer of security for every wallet. Therefore, make sure you have a working wallet so that you can store your hard-earned cryptos!

For wallets, there are both hardware and software wallets. Therefore, depending upon the level of business and required security, use the respective wallets.

Zcash Mining Pool

A mining pool is a group of miners that work on mining together! This will solve more complex blocks faster due to higher processing powers. However, distribution of rewards works according to the percentage of work done!

There are quite a lot of mining pools online that you can use to mine Zcash from home pc. Finding out more on how and where to get started check out our cloud mining section.

How to Mine Zcash with your PC

Cloud Mining

admin — Wed, 14 Feb 2018 11:29:50 +0000

Cloud Mining

Cryptocurrency Mining

Cryptocurrencies are a latest business trend of this era! Currently, everyone is eyeing the cryptocurrencies as a business opportunity that pays fast. Therefore, cryptos area digital business trend of today.

Now, there are two ways a person normally gets into the bitcoin business. One way is to invest in the cryptos as a trader. You can funnel in some bucks, and buy a crypto through it! The ups and downs of the crypto market can leave you in trouble. Therefore, this is a highly risky business that could require huge attention and care.

Cloud Mining

On the other hand, there is another form of business that turns your workstation into a cryptocurrency-generator. We call this process the cryptocurrency mining!

Here, more issues haunt us. The cryptocurrency mining is an expensive job; there are a lot of bills and things as minor as temperature can make a huge difference in the mining. Also, the temperature is high for mining and you’ll need to set up a system similar to server rooms for working on your mines, set aside the talk of maintaining the equipment.

Therefore, some genius thought, why not convert your servers to accommodate mines to process faster. This removed all the issues of expenses too, as a profit. This is the cloud mining process.

What is it

What Is Cloud Mining?

If you want to invest in mining of cryptocurrencies without the headache of hardware management, then cloud mining is just your thing!

In the simplest terms, the cloud mining is actually the use of shared power (we have shared servers so, we can call these as server too!) to mine the cryptocurrencies. The user who is using the cloud mining is actually renting a server

This system is highly convenient as it minimizes the expenses and maintenance issues as well as keeping you high on progress regarding your mining power.

Hence, if you are a person who wants a hassle free coin-generation, then the cryptocurrency coin mining! This solves the “what is cloud mining” question for many.

Cloud Mining

What are the Requirements of Cloud Mining?

The cloud mining is a very convenient step. However, you require some things before you can get into the cloud mining business.

The requirements of cloud mining are not very complicated and most of them go even with the normal method of cloud mining. Therefore, here are the requirements of cloud mining:

Monitoring Device

Well, a monitoring device is the necessary component for everything! This might be your laptop, mobile phone or tablet etc. This device will be your office! Moreover, as you would have presumed by now, this is a really basic requirement for cloud mining.

The requirement of this personal device is for the basic purposes of monitoring and supervision. You’ll be able to see your progress through this personal device.

Communications System (Internet)

A personal device will be useless if you wouldn’t be able to access the internet. The internet is a communications system that will establish a link between you and your mining server. Therefore, a communications system is as crucial as a monitoring device to your system.

Crypto Wallet

A crypto wallet is another necessary component in your cloud mining system that will hold your clouds for you.

The server will mine the cryptos for you and will send you the cryptos in your wallet. It will hold your clients and implement the security features according to its type.

Therefore, a crypto wallet is the third core component of every mining system.

Hashing Investments

Some credit in your bank account is the fourth most important component in a cloud mining environment. If you cannot spare some bucks, then you are not eligible for mining, not to mention the fact that you have to pay a high price for renting the mining power.

Therefore, your investments for hashing are also important if you want to stay in the cloud mining business.

Cloud Mining Hardware

How it Works?

The process of cloud mining is a simple process. However, it is divided into three main forms:

1. Hosted Mining

This is the most basic form of cloud mining where a server rents the processing power for a client.

2. Virtual Hosted Mining

In this form of mining, the user creates a general purpose virtual private server. Then, we use this VPS for the purpose of mining. This is a more secure system of mining from the server.

3. Leased Hashing Power

The third form of mining is through the use of leased hashing power. In which, a server engages in the mining procedures with the user based upon the amount of hashes. The leased hashing power does not have a dedicated physical or virtual machine.

This is the most popular and convenient method by far that the miners use. It is convenient for the miners as it delivers the required mining power for the users, while efficiently saving the hashing power for the hashing servers (the servers that mine).

How to Start Cloud Mining?

In order to start cloud mining, you have to follow these steps:

Sign in to a reputed mining service
Select the mining package as per your requirements. In case of the leased hashing power, you have to enter the amount of hashes you prefer.

Enter your payment details

Complete the payment process.

This is how you get into the Cloud Mining business. However, you need to keep a look out for the precautions that we will mention below so that you can be safe from threats and scams.

Profitability of Cloud Mining

There are no expenses incurred while you are cloud mining as the entire process is taking part on the server side. The hashing server is facing the expenses on your part. However, you still need to look if the monthly mining rent is profitable for you.

You need to determine the monthly costs in reference to the monthly running cost. This is how you determine the profitability of the cloud mining.

Latest cryptocurrencies Prices

Name	Price	24H (%)
Bitcoin (BTC)	$3,762.34	-13.11%
XRP (XRP)	$0.348682	-14.43%
Ethereum (ETH)	$107.24	-13.00%
Bitcoin Cash (BCH)	$171.63	-15.84%
Litecoin (LTC)	$28.75	-10.46%
Cardano (ADA)	$0.035345	-17.55%
Monero (XMR)	$56.77	-14.70%
Dash (DASH)	$88.93	-12.12%
IOTA (MIOTA)	$0.266243	-15.97%
NEM (XEM)	$0.065119	-15.50%

Pros of Cloud Mining

Many prefer the process of cloud mining against the traditional mining. Here are some of the pros of cloud mining:

There are no upgrades to home such as conditioning
You don’t get increasing electricity costs if you have cloud mining
You don’t require the maintenance of the device

Cons of Cloud Mining

On the other hand, some people prefer not to consider cloud mining. Here are some of the cons of cloud mining to explain this:

There is always a risk of fraud
The mining operations are opaque
The cloud mining yields lower profits
There is a lack of control and flexibility. It is less fun if you are a computer geek!

Is Cloud Mining Still Profitable

Here is the million dollar question folk: is cloud mining still profitable?

To this date, many people ask if the cloud mining is profitable or not. To answer this question, we will look into the system of expenses.

If the mining is in loss, then the server side will have to bear all the expenses of the mining. Therefore, the mining operations will not be possible in such a scenario. So, if the cloud mining is not profitable then the servers will be shut down immediately.

Genesis Cloud Mining

Things to Look Out When Cloud Mining

Crypto mining is an interesting business. You have a great opportunity to expand if you are working on this system effectively. However, keep some things in mind as you are working on this business.

Here are some things to look out for when cloud mining:

Authority is Advantageous

You’ll have to rely on authority whenever the talk of cloud mining comes. There will be no physical mining equipment that you will be using. Therefore, it will be better for you if you pay a slightly higher rent to ensure that you are not investing into a ponzi scheme.

Therefore, authority is one of the most important things to look out when cloud mining. Surely, it will give you an advantage.

Your Security is the Top Priority

Client-end security is another thing to look out for when you are cloud mining. Obviously, the server end is safe and secure if it is authoritative. However, you have to secure it for the client-end. Use security on wallets and keep your mining equipment safe and secure.

This will help you out in the cloud mining. Keep in mind that if you are into cloud mining, authority servers are safe but your end is the weakest link. So, always keep your end secure and sound

Is Cloud Mining a Scam

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When Does Cloud Mining Cover the Fees and Maintenance Cost?

The cloud mining keeps a small amount of the cryptos that is agreed through the mining contract. In addition to that, the servers charge you with additional costs and fees so that they can maintain and upgrade the hardware that they rent.

Therefore, the cloud mining and maintenance fees are deducted every time you withdraw cryptos. That becomes a two-way beneficial system for both.

The Best 3 Places to Get Cloud Mining Contracts

Now, this is our recommendation part folks! Here, we will be giving you our top 3 picks for the best cloud mining experience which are safe, secure and profitable.

So, here are the best 3 places to get cloud mining contracts:

Genesis Mining

Genesis Mining is the first cloud company and among the safest in the cloud mining industry. This company was formed in 2013.

The interesting thing about this company is that its owners came to know each other through buying and selling bitcoins. The company offers different types of mining cryptos. Currently, the company offers Bitcoin, Ethereum, Monero, Zcash and others in its main packages.

Hashflare

This is another excellent company with affordable prices. This is a new range of cloud mining services by the HashCoins team of crypto-experts. With Hashflare, there is not just quality, but also extensive experience in the field.

Hashflare is one of the most interesting platforms when you are looking at minimal risk while investing in cryptos. The company offers good maintenance, procurement and configuration at low costs.

Hashing24

Hashing24 is another expert-led company, which has an experience in the Bitcoin mining also. The idea behind this company is to have access to the newest technologies at the lowest prices.

This is the third company that we guarantee will not let you down through scams!

Cloud Mining Cryptocurrencies

The Cloud Mining is a very effective mode of mining with the lowest maintenance charges. Therefore, if you’re into the mining business, then this might be your expense-free mining shot. Just follow the above steps to set up your own cloud mining gig!

Folks! If you be careful enough, you can earn big bucks through this system. This system is not only fully autonomous, but it also earns big bucks.

Buy Bitcoin in New Zealand

admin — Tue, 13 Feb 2018 12:02:48 +0000

Buy Bitcoins in New Zealand

Where to Buy Bitcoins in New Zealand

Buying bitcoins from New Zealand is not easy, it can be very time consuming and frustrating as many of you have found out by now. In this section we will explain everything you need to know about how and where to buy bitcoins from New Zealand. Its simple once you know where to buy and from whom.

There are only few companies that offer a place to buy bitcoins and we have listed them below. Check them out and see what you think about them and what they have to offer. Do your own research about these companies before buying bitcoins through them.

Where to Buy Bitcoins from New Zealand

There are only few places that allow kiwi’s to buy bitcoins. We have sourced out some of the few bitcoin exchanges that allow payment by bank deposits, cash and PayPal to buy bitcoins in NZ.

We have listed them in order of preference and would highly recommend that you do your own research to find the best bitcoin exchange to buy your bitcoins. Use our information as a starting guide and build from it , find out as much information as you can about each company and see what they offer, what their rates are and how much they charge to trade in Bitcoins.

Where to Buy Bitcoins in New Zealand

Independent Reserve

Independent Reserve was founded in 2013 in Sydney, Australia. It allows kiwi’s to buy and sell bitcoins in Australia and New Zealand market. Independent Reserve allows deposits from most of the New Zealand banks and have has some of the lowest fees in the cryptocurrency markets.

Their mission is to transform digital currency technology into secure, robust and regulated financial services, and do things the right way. They have strong and experienced executive team, with a broad range of skills in corporate leadership, financial markets, software engineering and regulatory compliance.

Get started click the button below to check out Independent reserve.

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Independent Reserve is one of the best bitcoin exchanges that allows New Zealander’s to buy and sell bitcoins in New Zealand dollars.

Fees

All bitcoin exchanges charge fees to use their services. Check out Independent Reserve’s current fees and commissions

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Independent Reserve

Everything you need to know about independent reserve and what they offer.

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What You Need To Buy Bitcoin

List of all the things you will need to buy bitcoins.

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Buy Bitcoins

Bitcoin has made a huge buzz in the market. There are huge businesses taking interest into this currency and people are getting rich overnight!

You, on the other hand are sitting and scratching your head, thinking what black magic is going on! If you need more information on how to buy bitcoins then check out independent reserve

Buy Bitcoins from NZ

Ethereum Mining

admin — Sat, 10 Feb 2018 04:59:09 +0000

Ethereum Mining

The world of cryptocurrencies is a very diverse one. There are a lot of cryptos out there for you to mine and sell! Same is the case for Ethereum.

Ethereum is infamously the digital silver. So, there is a huge buzz around this currency. After bitcoin, Ethereum is the most powerful currency.

Looking from the aspect that Bitcoin mining has gone sky-high in terms of expenses, most of the miners prefer to mine ethereum. However, for some people even the meaning of the word mining is troublesome. If you are such a person, then don’t worry!

This guide is made specifically for the people who are not familiar with ethereum mining. So, today we’ll be explaining how it works in a low-jargon way!

Interestingly, mining ethereum is strikingly comparable to mining the Bitcoin.

What is Ethereum Mining?

Although ethereum is one of the mainstream currencies but still often people ask this question, “What is ethereum mining?”

Well folks! Ethereum mining is a process that involves all of the computers on the “ethereum blockchain” to mine ethereum by solving complex formulae.

This greatly answers the question, “What is Ethereum Mining?” However, the real process is more sophisticated and hence requires further insight into the matter.

At this point, you might be thinking that this is exactly how we mine Bitcoin. However, there is a difference between the two (I said comparable up there!). Surprisingly, the difference is of the back-end algorithms that power both of these networks.

Ethereum Mining: How it Works?

Folks! Mining ethereum is a very simple step. This part will explain how you can get into the mining business.

An important Note: Follow “How to Start Mining Ethereum” first to know about the basic requirements before attempting the below steps. How to start mining ethereum steps are super-important!

In order to mine ethereum in a better way, we will set up client applications (like Minergate, Claymore miner etc.). These softwares are important as they can set you up in mining the ethereum very easily and you’ll have to do nothing anymore.

Here is how to start mining ethereum.

Go to a client applications’ website and download the application. If required, then also make an account.
When the application downloads, proceed to the ethereum section.
Use the instructions to start mining ethereum. Normally, you have to copy the code (it should contain your wallet address into command prompt) for command line client applications. For the GUI ones, the entire step is done via graphics and icons.

If you have gone through these steps, then you have started to mine ethereum!

Also, keep in mind that mining is a heavy process and it will drain your computer speed and capabilities if you try to overdo it.

Mining Ethereum

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Algorithmic Difference between Bitcoin and Ethereum

If you talk about the basic difference in Bitcoin and Ethereum mining then it is of SHA-256 and Ethash. As Bitcoin works on the SHA-256 algorithm, the Ethereum uses the Ethash algorithm. This is a memory-hard algorithm, meaning that ASICs cannot work on this algorithm.

To sum things up, if you are a person who is thinking of mining Ethereum then Application Specific Integrated Circuits are incompatible!

Systematic Difference between Bitcoin and Ethereum

Now, another way ethereum is different from bitcoin is how it works. Bitcoin works as a decentralized digital currency. On the other hand, the ethereum follows the World Computer concept!

In ethereum, most of the work done is in the form of Smart Contracts. Take smart contracts as line of code that machines process on the ethereum blockchain

How to start mining Ethereum?

Mining ethereum is not a hard process at all! However, just like every other cryptocurrency in the market, you need to fulfill a number of requirements first.

Here are some of the requirements that need we have to fulfill before we start mining ethereum:

Get Ethereum Wallet

An ethereum wallet stores the ethereum that will come in while you’re mining. It will provide you with an address where you can receive your hard-earned coins.

In terms of security and expenses, there are two wallets. One of them is the software wallet, while the other is the hardware wallet. A software wallet is mostly free but it is less secure. We’d require you to use a software wallet if you’re new to the mining and are starting off.

For experienced people, we recommend hardware wallets because they provide higher security. However, you’ll have to put in some bucks for the hardware wallets

Etherium Wallet

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Build Ethereum Mining Rig

This is the complicated part! Mining ethereum also requires its users to build ethereum mining rigs. These rigs are specific-purpose equipment loaded with graphic processing units (GPUs) to ensure that fast processing is taking place.

If you are to start mining, then you will have two choices to process the blockchain:

Using Traditional Devices

Traditional devices are the devices that we are generally using. Examples of it would include laptops, smartphones etc.

Interestingly, these traditional devices can take you into the mining business. These devices will be low on the expense, which means you’ll have to pay lower bills as compared to GPUs. However, the processing power of these devices will be negligible.

Bluntly put up, you’ll make nothing out of the traditional devices if we look at the complexity of the present day ethereum blockchain.

Using Ethereum Mining Rigs/GPU Rigs

Ethereum mining rigs or GPU rigs are actually specialized devices that can mine ethereum at a very high speed. These devices are high on the bills! You’ll also have to invest money if you want to build ethereum mining rigs.

However, they do make an earning through the ethereum blockchain.

To sum things up, you might have to pay more bills if you build ethereum mining rigs for yourself. However, the earnings they make can not only compensate for those bills but also earn you some cryptos in return!

Our Recommendation

If you’ve gone through both of the above choices, then you’ll already know what to do!

Additionally, ASICs ARE NOT A CHOICE because of the Ethash algorithm.

Folks the best choice is to build a GPU rig due to the reason that it will actually get you somewhere in your ethereum mining business!

So, get yourself an ethereum mining rig. That is how it works!

Building GPU Rig

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Ethereum Mining Pool

Joining a pool has somewhat become vital considering the fact that mining ethereum has become hard over time.

A pool is actually a group of miners who combine their computing power to solve the blocks. Upon a successful completion of the block, the awards are distributed by all the members of the pool!

You might be thinking right now that why do I have to share my coins. Folks! Sharing is caring, and it is all good if you are earning!

Some pools that you might consider are f2pool, ethpool and nonopool.org (it is actually a website!)

Precautions to Follow

Although, crypto mining is an automatic process, there are some precautions that you can take care of to avoid a potential pitfall.

Stated below are some important recommendations to stay safe all the time.

Ethereum Scammers

There are a large numbers of scammers who are ripping of ethereum investors and miners. So if are getting offered something that sounds too good to be true then it is a scam. With Etereum there is nothing free and you will be scammed if you go in the path of getting something for free. Do your own research on everything you need to know about how ethereum and only use trusted sites and equipment bought from legit sources.

Spare Some Bucks Every Time

Make sure you convert some ethereum into money all the time. Don’t convert all of it so that you don’t regret it if the price jumps up rapidly.

This is to ensure that you can recover from a scam and theft scheme that most of the mining pools and clients can throw you into. Obviously, the there’s no such thing as auditing on the blockchain!

Watch Out for Scams

Make sure you check the reputation and safety certificates of your prospects before investing all of your mining power into a system.This will ensure that you don’t fall into a scam and face a loss in the future.

Use Ethereum Mining Calculator

Make sure you keep your business profitable using the ethereum mining calculator. Using an ethereum mining calculator will let you know if ethereum mining is profitable to you or not.

The ethereum mining calculator will take the current price of the ethereum in the market and will deduct your expenses from it. Then, it will let you know if the business is still profitable or not.

So, make a good use of these ethereum mining calculators so that you can perform well on your ethereum business.

Stay Patient

If power is a solution to the blockchain, then patience is its key. You always have to stay patient throughout the ups and downs.

All of the cryptocurrencies are volatile; which means that they shift their values rapidly! So, make sure you stay patient to get the best fruit, or avoid the worst loss.

THERE’S NOT MUCH TIME!!!

This might be the most important precaution that you will be reading. Very soon, the Ethereum will deviate from the traditional proof-of-work system (same as the Bitcoin’s) to proof-of-stake system.

In easier terms, this means that you will not be able to mine ethereum if you did not possess ethereum very soon!

So, hurry up and make some coins before it is too late!

Mining Ethereum

Successful implementation of the above set your foot in the ethereum mining business. Now, proof-of-stake is coming up pretty soon. Therefore, fill up your wallets with ethereum quickly so that you can stay in the mining market after a change occurs.

Best of luck to you all in your mining business!

Bitcoin Mining

admin — Sat, 10 Feb 2018 00:30:57 +0000

Bitcoin Mining

Bitcoin is the infamous “digital gold”. This cryptocurrency is ensured to have a huge price and it is the oldest lion in the jungle.

This guide is made specifically keeping in mind the Bitcoin mining for dummies. We are your friends and we’d want the best there is for you.

Normally, in case of the paper currency, the government decides to print and distribute the money to the people. However, in the case of the Bitcoin, there is no central government, so how do we get the new Bitcoins?

This is a question that almost all of us have thought about at some point. The answer is simple, we mine new bitcoins.

What is Bitcoin Mining?

In order to mine Bitcoin, we work on the blockchain! We (the miners!) use special bitcoin mining software to process the blockchain. Often, state of the art bitcoin mining hardware accompany this processing, making it faster.

We call this entire process the bitcoin mining.

Collectively, the working on the blockchain is just like an incentive to the people who are mining and a smart way to issue the cryptocurrency. That makes mining a two-in-one shot!

How to Get Started: Bitcoin Mining?

The Bitcoin mining actually consists of two basic activities:

Validation
Solution

This entire process follows decentralization; therefore millions of users all across the world ensure simultaneous processing on both of the activities.

Validation and Solution Explained

Take the blockchain as a huge jigsaw puzzle with a constant addition of new pieces. Now, there are two things that you could do on this puzzle. We either put the new pieces in their place, or we correct or verify if the old ones make any sense.

This is exactly how mining works. The miners either Validate the older blocks, or solve the newer ones. The validation also serves to block the attempts of re-spending the already spent coins. The blockchain on the other hand, displays the solved blocks over the network to assert the solution of those blocks.

This entire process requires specialized software (the bitcoin mining software) and rigs (the bitcoin mining hardware).

How Bitcoin Mining Works

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The Process of Mining

The process of mining consists of 5 steps if we look at it systematically:

The miner verifies if all the transactions are valid at his ledger. Therefore, the miner compares his ledger with all the other ledgers on the blockchain. Also, we often check the previous block to see if tampering is there in the ledger or not.
The miner bundles the transactions into a block.
The miner takes the header of the previous block and uses it as reference to the new block. This is to make sure that others can verify the new block through their own ledgers.
Everyone solves the newest block. Proof of work comes into play at this stage.
The solution is found eventually, and everyone receives their share from that block. Moreover, the local blockchain adds the new block and sends it over the network.

What Are the Requirements for Bitcoin Mining?

Although the bitcoin mining is an autonomous process, it is an expensive one. Therefore, you might want to look at these requirements before getting to some point in the mining business.

Bitcoin Mining Software

For me, setting up Bitcoin mining software is the first thing. Software like BFG Miner and CG miner etc. would allow you to access the blockchain with your network.

In addition to that you would also need some software that works with your bitcoin mining software. An example of it would be a wallet that would keep your hard-earned cryptocurrencies. So, we will advise you to set up your bitcoin mining software in the first place.

Bitcoin Mining Software

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Bitcoin Mining Device

A mining device is the second thing that you’d be requiring. Obviously, without bitcoin mining hardware, how good will your mining thing is?

For the purpose of mining, three types of platforms are considered by people: the Personal Devices, GPU Rigs and ASICs.

Bitcoin Mining Hardware

A mining device is the second thing that you’d be requiring. Obviously, without bitcoin mining hardware, how good will your mining thing is?

For the purpose of mining, three types of platforms are considered by people: the Personal Devices, GPU Rigs and ASICs.

The first bitcoin mining hardware we’d be talking about is your personal devices. These are the desktops, Laptops, smartphone or any other device you could use as a node over the blockchain. These devices are already in your hands. However, the mining on these devices will leave you with an almost dead speed.

Therefore, by using the personal devices, a miner doesn’t get anywhere; EVEN FOR YEARS!

The second priority for a bitcoin mining hardware is the mining rig. These specifically made and designed GPU systems process the Blockchain at high speeds. The mining through a GPU bitcoin mining hardware is extremely easy and convenient. However, the downside of having this rig is that it is a lot costly, both to buy and maintain as compared to a personal device.

The third in the bitcoin mining hardware list is the ASICs. An ASIC or an Application Specific Integrated Circuit is a hardware that is built specifically for some application. The power and requirements of a mining rig (GPUs) and ASICs is comparable. The only difference between the two is that ASICs process a single application at a time, while the GPU can process multiple applications simultaneously.

Beginners Bitcoin Mining Hardware

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Recommended Hardware

Here, we are looking forward to giving you the best mining experience. Therefore, to any person who is setting a foot in the mining business, we would recommend him to use GPU Bitcoin mining hardware. There are a number of reasons for doing so. We will point out a few here:

GPU Rig has a good resale value
GPU Rig is also a normal computer. They are not made as Application Specific devices that only mine.
GPU rig is more energy efficient as compared to an ASIC
It doesn’t produce irritating noise
You can upgrade a GPU rig anytime
Cool looks of a PC box can give your PC a Bitcoin-level swag

Huge Amounts of Money

In the present world, the money is the core component for everything. And to buy a good bitcoin mining hardware, you’ll probably need good money. So, make sure you have saved up a few bucks before you come into the mining business.

You’ll need cash to buy a bitcoin mining rig. Once you’ve done that, you’ll need more money to pay the bills (rigs drain electricity). Eventually, you’ll need even more to upgrade the rig so that your processing rate stays upto the mark with the market.

Ability of Patience

This one is for free folks! However, this one is the hardest to maintain. If you have spent money and making cryptos out of it, you’re still nowhere. You will probably have to hold your coins for some time if you want to profit from this business.

So, the fourth in our list is not a bitcoin mining hardware, nor some bitcoin mining software but your ability to be patient!

Some Precautions You Need to Look Out For!

Before starting-off with the Bitcoin mining, there’s a caution! There are some potential loopholes too that you need to look out for. Make sure you are careful regarding the following:

Get Guidance: Bitcoin Mining Calculator

Bitcoin is a potential well that could quench your money-thirst over time. But if you are not having a calculated approach, this well has the potential to devour you also. Therefore, make sure you use a bitcoin mining calculator.

A bitcoin mining calculator will make sure that your business is profitable by estimating your budget for you. It will ask you for your costs and you can get the business profit/loss margin in seconds by looking at your processing power and expenses.

Therefore, make a good use of the bitcoin mining calculator. Who knows, the area you are in might have so high prices that your business is a loss from the start?

There’re No Freebies

Bitcoin is a highly priced currency. It has a high value and everyone is crazy about it. So, keep in mind. There’s no such thing as free bitcoin mining. All the free bitcoin mining mails you’ll be having will be nothing more than a scam.

Yes, there will be some faucets that will give you a Bitcoin after you complete some 100 million points. In the time you’ll be able to do that; you can get yourself a job and earn thrice as much. So, play the game like a smart guy and don’t fall for the free bitcoin giveaway or free bitcoin mining scams. Even if one of them is legit, a treasure chest in the mouth of a shark is no treasure at all!

Volatility

There’s a big factor of volatility when it comes to mining bitcoins. The prices rise and fall almost instantaneously sometimes. So, make sure you have an eye out for the rapid pits and grounds. If, you haven’t made a plan about that then this might be a big risk in your bitcoin mining game.

Make sure you have something about it from the very start. I recommend holding the currency so that you can sell it for a decent price (sell only a part of it, so you don’t regret) later on!

Bitcoin mining business

I have given you a hack that I use for my bitcoin mining. That requires patience! We’ve already discussed how Bitcoin is a game of patience. So, I would just leave it here and move on.

If you have paid a considerate amount of attention to the above arguments, then you are ready to step inside the Bitcoin mining business. It is a pretty lavish field with lots of limelight. It can make or break you overnight, so make sure you go in with a plan.

Best of luck with mining, Bitcoiners!

Bitcoin

admin — Tue, 06 Feb 2018 10:44:26 +0000

What Is Bitcoin

Bitcoin is a type of cryptocurrency that was created in 2009 by a person called Satoshi Nakamoto. Bitcoin is one of the first digital currency that was created with encryption techniques to work without the need of banks. Find out in detail what a bitcoin…

How Bitcoin Works

In simple terms Bitcoin works by allowing anyone to send and receive money across the internet digitally. Its like any other currency except its all digital and is not reliant on any government or bank. Find out in detail how the bitcoins work.

Bitcoin Price

Our up to date bitcoin chats shows the latest bitcoin price in USD and NZD. Find out how the worlds favorite digital currency is doing. We have bitcoin price charts that shows the value of bitcoins every hour, every day, every week and much more. All our charts are live and updated from the leading currency markets. Check out the latest bitcoin prices

Buy Bitcoins

Buying bitcoins or any cryptocurrency in New Zealand can be complicated, frustrating and time consuming unless you know what you are doing. In this section we will explain in detail how to buy bitcoins and where from. Check out more detail on how to buy bitcoins from New Zealand

Bitcoin Wallet

Before buying any bitcoin you will need a bitcoin wallet. This is digital wallet that will store all your bitcoins online. With this wallet you will able to send and receive bitcoins online. Its free and simple to create your bitcoin wallet. We will show you how and where to setup your digital bitcoin wallet. Check it out now

Bitcoin Exchange

Buying bitcoin is like buying anything else online. In order to buy bitcoins you will need to find a good bitcoin exchange, most of the bitcoin exchanges dose not offer New Zealanders to buy bitcoin. Most of the large bitcoin exchanges have no provenance for us to buy any cryptocurrencies.

There are only few exchanges that offer kiwi’s to buy digital currencies from New Zealand and even then have restrictions on what you can buy. Find out more on how and where to buy bitcoins from New Zealand

Bitcoin Mining

Bitcoin mining is something that has come a long way, few years back we could use our own computers to mine bitcoins but in today’s market you will need something more powerful. Mining bitcoin is not easy and you will need few crucial things to get started. We have all the information on how to start mining bitcoins from home. Check out the bitcoin mining guide. It is made specifically keeping in mind the Bitcoin mining for dummies.

Bitcoin Made Simple

"Bitcoins can seem very complicated and hard to grasp but its not. Once you know the basics of bitcoins it will be simple to follow and can be life changing. Check out the video to get the basic concept of what is bitcoin, how it works and why it will be the next big thing in currency market.

James Stuart

Bitcoin specialist

Bitcoin Terms

What is a Bitcoin

Bitcoin is a cryptocurrency and worldwide payment system developed in 2009

What is Bitcoin Mining

Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released.

What is Bitcoin Wallet

Bitcoin wallet is a software program where Bitcoins are stored.

What is a Bitcoin Exchange

A bitcoin exchange is a digital marketplace where traders can buy and sell bitcoins using different currencies. It is is an online platform that acts as an intermediary between buyers and sellers.

Cryptocurrencies

admin — Tue, 06 Feb 2018 08:54:21 +0000

Cryptocurrencies in Detail

Cryptocurrencies

Right now, the cryptocurrencies are taking the world by storm! There are a lot of examples of success in the blockchain and people are getting rich overnight by using these currencies. Hence, the currencies are money of the future, not to mention the fact that the shockwaves are spread globally.

While these currencies pack a good punch when it comes to business gains, there is also a downside to them.

Understanding Cryptos

Unfortunately, most of the people will not understand the geeky-gears behind the Blockchain. And that is the main reason why the cryptos are not well-understood by most people, banks, governments and many big companies.

There might be a lot of activity around you to educate people how cryptos work. However, here at cryptocurrency.net.nz , we decided to educate our audience what cryptocurrencies really are! So, if you are a person who is still scratching his head about what cryptos are, don’t worry! We’ve got you covered!

Meaning of Cryptocurrency

The answer of this question lies within the word cryptocurrency. In this name, the term “crypto” refers to hidden and currency is a medium of exchange that we all know about. Hence, this is a decentralized system of monetary exchange that is an alternative to the Centralized system.

The cryptocurrencies are digital assets that aim to work as a medium of exchange. This entire system is safe by using cryptography, implying that tracing a crypto currency is impossible.

The main thought behind the cryptos is the use of private business data on lesser private networks. Additionally, another thought of using a system of decentralized currency is also in effect

What is Cryptocurrency

Working of an Electronic Cash System

At this point, we must consider how an electronic system of cash works. In order to complete a transaction, a user requires a payment network with accounts, balances and transactions.

The major issue in that case is the over or under-spending of the cash; or the probability where a minor change in the instructions can completely change a transaction.

In order to overcome the spending issues, a server needs to constantly verify whether or not the instructions are changing. This way, it keeps a record and prevents errors and omissions in a system of cash.

Innovative Decentralized Approach

However, in a decentralized approach, we don’t have that server for record keeping. Hence, every device manages its own record. So, every entity in the system keeps a private record of files to check the errors and omissions (if any).

To sum things up, the main idea was to maintain an email like system, where the private information broadcasts over a network, but only to the select authorities.

Therefore, if you asked the question “what is the meaning of cryptocurrency”, then the answer is simple. Decentralized mode of currency exchange is what defines crytpos.

Decentralized Approach

History of Cryptocurrency

People believe the cryptocurrencies to make them super-rich overnight. However, very few are aware of the fact that history of cryptocurrency is richer as compared to such monetary gains.

So, let’s start with a shock! Did you know that cryptocurrencies are actually bi-products of another invention?

Bi-Products of another Invention

An alias of Satoshi Nakamoto, who is the unknown inventor of Bitcoin, never intended to invent a currency. Infact, the thought behind Bitcoin was to be an electronic cash system that has no central governing authority.

The concept of Bitcoin was not a really admired one, owing to the fact that many such actions had failed in the past. However, Satoshi marked a new feat in the history of cryptocurrency by using a decentralized approach.

The innovation sparked the fuel to create something known as a Bitcoin Blockchain in the history of cryptocurrency.

A Successful Bi-Product

Eventually, the concept developed and more and more companies utilized this idea for their own personal uses. A few notable ones are Ethereum (application-based) and Zcash (Private).

Another interesting fact is that most of the people are surprisingly keen about studying the Bitcoins instead of the Blockchain that was actually the main thing Satoshi Nakamoto wanted to invent!

Block Chain

What Is Cryptocurrency Used For?

The third most interesting question that we face in our lives is the basic use of the cryptocurrencies. There is a huge majority of the people on this planet that still don’t know how a computer works, so expect such a question every now and then from the people!

In the most basic terms, the basic role of a cryptocurrency is as a digital asset, or more precisely a digital currency, alternative currency or virtual currency.

Why Cryptos are a currency?

Imagine James has 100 bucks. In his mind he will have an amount which he possesses, and he is not bound to give it away until some specific requirements are fulfilled.

Similarly, if James possesses a crypto (let’s say one Bitcoin) all of the conditions are same, except that the tangible feel of the currency. So, we can classify cryptos as a currency.

As Digital/Virtual Currencies

The cryptocurrencies are digital currencies. That means that they have no physical existence and they only exist over a network (the Blockchain). They are not coins flying here and there but mere entries in a database that we cannot change without fulfilling specific conditions.

So, we call the cryptocurrencies as digital currencies.

Latest cryptocurrencies Prices

Name	Price	24H (%)
Bitcoin (BTC)	$3,762.34	-13.11%
XRP (XRP)	$0.348682	-14.43%
Ethereum (ETH)	$107.24	-13.00%
Bitcoin Cash (BCH)	$171.63	-15.84%
Litecoin (LTC)	$28.75	-10.46%
Cardano (ADA)	$0.035345	-17.55%
Monero (XMR)	$56.77	-14.70%
Dash (DASH)	$88.93	-12.12%
IOTA (MIOTA)	$0.266243	-15.97%
NEM (XEM)	$0.065119	-15.50%

Alternative Currencies

Businesses and enterprises use the cryptocurrencies as alternative currencies as alternatives to the centralized system. In that system, the businesses might have to funnel in some high amounts in the shape of taxation and fees or expenses. However, that is not a case with the cryptocurrencies.

These are complementary currencies that businesses can hide from this system and rack up until necessary. So, the next time when someone utters the word altcoin in front of you, you’ll know that they are actually talking about alternative coins (or alternative currencies).

Mineable Commodity

If you don’t happen to be a businessman, but a person with a golden thumb with tech. Then, you might be able to lend the thinking power of your PC to sort out a few blocks on the Blockchain. The blockchain works upon compensating every such person (we call them miners) with shiny cryptocurrency.

Consider a huge variable, where your teacher awards you for guessing its value. On the other hand, for every guessed value, more variables add into the formula. This is what happens in the blockchain. Rewards are distributed upon completion of a block. On the other hand, a new block which is more complex from its predecessors adds into the blockchain.

So, to some people, it is not a business currency but a potential mine from which they can extract some ledger entries with knowledge worth bucks!

Types of Cryptocurrency

This is the most interesting question you might be having in your mind. You might be thinking that if this is all cryptocurrencies are about then you are wrong!

Reflect upon what I said while talking about Bitcoin in the history of cryptocurrency. I even managed to mention a few! So, what I deduce from those names is that the Blockchain is more diverse than we can possibly think of.

As the environment of decentralization takes the mainstream, more and more businesses will join in and everyone will try to implement their own unique use of the Blockchain network.

Hence, we will experience different algorithms over the Blockchain.

Types of Cryptocurrencies

Cryptocurrency Algorithms

Interestingly, many different types of cryptocurrency are already seeing the face of the market. And these currencies group up on the basis distinct algorithms. These different algorithms determine the complexity of work, and the requirements of machines to process them.

This system is interestingly similar to the system of Boxing, where a lightweight system has his own champions and competitions; whereas, in the middleweight and heavyweight there are different people. So, we divide the Blockchain into different categories depending upon the potential gains of the business that are behind the different currencies.

From the perspective of their algorithms, the following different types of cryptocurrency are there:

SHA-256 Algorithm
Scrypt Algorithm
X11 Algorithm
Cryptonight Algorithm
Dagger Hashimoto – Ethash Algorithm

SHA-256

SHA-256 or Secure Hash Algorithm creates a unique 256-bit encryption key for the protection. In this system, the blocks generally take 6-10 minutes to complete a single block.

The system uses GH/s (Giga Hashes per Second) for processing in this Blockchain Algorithm. It is equivalent to 1 billion Hashes in a second.

The Hash is a fixed-size index that we use to retrieve items from a database.

Bitcoin (BTC), BitcoinCash (BCH), Peercoin (PPC), 21Coin (21), Unobtanium (UNO), Namecoin (NMC) are a few coins that work on this algorithm.

Scrypt Algorithm

The Scrypt Algorithm requires large amounts of memory but is simpler and quicker than SHA-256. It’s hash rate is measured in KH/s (Kilo Hashes per Second) meaning one thousand hash computations in a second. Another important feature of the Scrypt is that it does not depend upon the previous blocks in the Blockchain for new blocks.

Some of the most notable coins that use Scrypt Algorithm are the Litecoin (LTE), Dogecoin (DOGE), Novacoin (NVC) etc.

Meaning of SHA-256

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X11 Algorithm

Calculated in MH/s (Mega Hashes per Second), the X11 was developed by Evan Duffield. There are 11 scientific hashing algorithms in this system for the proof of work.

The processing power required for this Algorithm is a million hashes within a single second.

If you obtain this power, you are likely to mine Dash (DASH), CannabisCoin (CANN) or StartCoin (START).

Cryptonight Algorithm

This algorithm was designed to be the best suitable for the CPUs. Unlike the Scrypt Algorithm, the Cryptonight depends upon all the previous blocks for new block.

It is measured in H/s (Hash per Second).

Some notable coins using this algorithm are Monero (XMR), Bytecoin (BCN) and Dashcoin (DSH).

Dagger Hashimoto/ Ethash Algorithm

It is the combination of the Dagger and Hashimoto algos developed by Vitalik Buterin and Thaddeus Dryja respectively. Dagger is actually easier alternative of the Scrypt algorithm, and Hashimoto limits the mining processes.

It is called Ethash Algorithm because it is used for mining Ethereum (ETH), Ethereum Classic (ETC) and Expanse (EXP).

World of Cryptocurrencies

The world of cryptocurrencies is very diverse. Given the proper conditions, this method of digital assets’ trading can be very influential and insightful.

Going through this guide will have thoroughly given you the explanation about the legit nature of the cryptocurrencies and how they are benefiting people. The fact that they require money to be processed (in terms of bills) is what that defines their price. Hence, they are a good investment in the present times.