How to Buy and Store Bitcoin in Your Wallet?

Bitcoin is one of the most prestigious cryptocurrencies to date, although, there are many Altcoins already exists for trading. Bitcoin can be purchased through reliable bitcoin exchanges and from bitcoin holders in the crypto market. There are many people holding bitcoins and offering to sell them. Before buying bitcoin, you must possess a secured wallet to store them safely. The Bitcoin stored in a wallet should have a secure password. We can now see how to buy bitcoin as well as to store it.

Buying Bitcoin:

Get Bitcoin Wallet

You can search for the bitcoin wallet over the internet, and you can install it in offline mode. However, you must put a strong password to secure the wallet. It is merely a software programming which gets installed in your computer, mobile or other digital gadgets. There are several bitcoin wallets available online and offline for use. While selecting your bitcoin wallet, you should keep the security level on a high priority because bitcoin is simply a digital currency

Open Account in Exchange

You need to open the bitcoin account in a reputed exchange, by the analysis of services and cost involved in the transaction. You are suggested to choose any legit exchange which is already running with the correct market name so that you may not worry about the hidden cost or fraudulent activities. By opening your account, you can access live price and authorized to buy bitcoin through them.

Select Payment Method

There are multiple payment modes for your bitcoin purchases using major fiat currencies like US Dollars, Pound and also by other crypto coins like buy ethereum. In most instances, the payment mode you choose for buying your bitcoins is the same for your bitcoin withdrawals.

Buy Bitcoin

When there are fiat currencies or altcoins available, you can use those to buy the bitcoins with the help of your trading platform or system. This process is simple that you have to transfer the equivalent amount against bitcoin into the designated wallet or account, and it takes some time to validate your transaction. After that, you receive the bitcoin instantly. 

Storing Bitcoin in your wallet

It is a common phenomenon that when buying or before buying bitcoins, one should first decide where to store the Bitcoins. Bitcoins stored in the wallet can be accessed by his\her bitcoin address only using a secure private key. Bitcoin wallets might be accessible either online, mobile, computer, on digital storing devices and even on paper. There are many wallets available, and they are an online wallet, Software wallet, Hardware wallets, Electronic wallets, Mobile wallets, and Paper wallets.

You are advised to choose the best wallet so that it may be fully secured and convenient. Online wallets are available for transactions, only when connected to the internet.  A software wallet is a programmed kind which keeps your keys secure while hardware wallet is better because you can keep it offline. Traders also use electronic and mobile wallets for shopping. Eventually, a paper wallet is also appropriate where you can write down your private key and keep it secured.

What Is Margin Trading in Crypto Currency: Learn How to Get Started?

What Is Margin Trading in Crypto Currency: Learn How to Get Started?

Margin Trading
The margin trading in cryptocurrency refers to take a loan from exchange or brokers to trade the cryptocurrencies in case of non-availability of the required full amount in the trading account. The loan amount borrowed has to be returned with interest to the lenders. Margin trading is usually opted to increase buying power. Imagine having only $500 of cryptocurrency (bitcoin) in your account and wishing to trade worth $1000 of cryptocurrency (bitcoin) employing margin trading. The only option you have is to borrow $500 more from an exchange or your broker into your account so that you can place an order.

While margin trading can magnify your gains, it can also amplify your losses. You need to be aware of this risk associated, before even considering to use margin trading. You can’t deny the possibility of losing your entire balance.The Margin trading concept finds its place in both short and long position cryptocurrency trading and is mostly used for hedging, speculating or taking a smaller risk while putting your funds in the exchange wallet.

Margin trading | Unicoin

Pros & Cons of Margin Trading:

1. Larger Return
Margin trading intensifies the profit amount which is exposed to trade. It can multiply the returns in a short time even with a small amount of fund.

2. Shorting benefits
When the price of cryptocurrencies are dropping there is an opportunity for short selling and buy back later when prices reach to lower level that will ultimately give good profit in falling market condition.

3. Structured Trades
If there is a facility of long as well as short trade, the account can be managed with the help of different kinds of strategies together to get a functional and profitable result in the overall time frame of the trade cycle. Generally, the fund managers are doing structured trades.

4. Larger Losses
Although, it gives the intensified profit while trading but it may bring greater loss also if the trade is in the wrong direction. Therefore, before using margin trading, one must be aware of its negative side as well.

5. Interest burden
It is an extra burden for the traders who have borrowed the crypto fund on interest basis which is generally higher than usual interest rates. The borrower is required to return the lender’s principal amount along with interest amount.

How to Get Started

1. Open Crypto trading account
The first thing to get started is to open a trading account in any of the cryptocurrency exchanges or with a broker. There is a small formality to fill up to get started and after complying with all the rules & regulations account will be opened.

2. Fund the account
Then, you need to transfer the amount that is intended for trading. The funds transferred to a designated wallet should be in the form of allowed currency. There is a proper channel through which fiat or permitted currencies get transferred.

3. Borrow the deficit amount
Now, you can ask for the amount that is required to place the orders. However, before borrowing the fund, you need to check the applicable interest rate which will incur on the borrowed amount.

4. Place the order
After getting the full and initial margin amount into your crypto trading account, you may place the order of any crypto pairs.

5. Withdrawal
A trader may do the withdrawal or transfer of their funds in the same currency form that was used initially for deposit.

Conclusion
There are always two sides of a coin that is very true here in case of cryptocurrencies as well. When we talk about margin trading in cryptocurrency, there are huge returns on one side and accumulated losses on the other. Margin trading provides luring offer to the investors due to its short term cumulative returns. That explains the sudden shifting of traders towards cryptocurrency trading. Ultimately, investors have to be updated with the crypto world, especially while buy Bitcoin and buy ethereum other Altcoins.

Is It Safe to Share Your Bitcoin Address? | Unicoin DCX

Before we decide that sharing bitcoin address is compromised or safe, we must understand few important aspects of bitcoin address and its security because this information guides you in deciding whether to share the bitcoin address to anyone or on any website. Bitcoin is the most privileged cryptocoin in the current crypto world. Any bitcoin user can generate bitcoin address without even having an internet connection, and additionally, it is not necessary to register with the bitcoin world network. Thus people can create such address with the help of the software available freely on numerous websites. Technically, a Bitcoin address is a 160-bit hash of the public portion of a public/private ECDSA key pair. Using public-key cryptography, you can “sign” data with your secret private key, and anyone who knows your public key can verify your signature legitimacy.

A bitcoin address includes 26-35 alphanumeric characters with similar to 1, 3 bc1 which is a digital designation. A bitcoin payment address looks like bc1par0srtr5xfkny3l613lydnw9re59gtzzkf8ndq

However, this is one of a kind of bitcoin address format, and in fact, there are 3 other formats of such addresses. Those formats are P2PKH, P2SH, and Bech32. You can think of the address of your bank account number where the money can be received or deposited by yourself or third parties. Generally, most of the bitcoin address consists of 32 characters with random uppercase, lowercase, and numbers except “I” and “O”. These two letters have never been used till today to avoid the ambiguity. Bitcoin addresses are a consequence of generating a public and key pair. The address is known secretly to wallet owner. Therefore, this is entirely safe and secure if your storing device is not compromised. 

Without sharing your bitcoin address, it is not possible to receive funds from another party, so you have to share the Bitcoin address without a second option. Now the question arises that what can happen to my address once you make it public. Hackers can manage to find your address, but cannot do anything until you share them your private keys. The private key can be understood like the password for your bank account for transaction requirement, thus without revealing your private key, people can locate your address, but cannot peep into your account details or be able to do any transaction.

These addresses are not crypto wallet nor balance accounts. You can use it to receive the crypto funds. These addresses are just like bank account numbers where other parties can see and deposit, but they cannot withdraw or send money from that account. Only the owner of the address has the power to send money if he/she has other private keys. Bitcoin address has a built-in check code, so no one can send the bitcoin to wrong address. If the address is valid, but without an owner in such cases the coins sent mistakenly are lost forever and cannot be reverted.

To conclude, it is very safe to share the bitcoin address to another by keeping the private key within your limitation. The private key cannot be accessible to any other third parties on any aspect.

Ultimately, investors have to be updated with the crypto world, especially while buy Bitcoin and buy ethereum other Altcoins.

Tips for New Bitcoin Investors

There are many crypto coins available in the market which has been offered by the different entity with unique schemes for trading purpose. One of them is Bitcoin, which is the most prevalent among all. Bitcoin was the first and the most valued cryptocurrency in the world. Most of the traders prefer to trade in Bitcoin despite the availability of other cryptocurrencies.
New traders also wish to come in the crypto world and try to invest by trading Bitcoin as their first cryptocurrency. Such new traders need to have enough knowledge before trading in Bitcoin as it is highly volatile and requires a high level of security as well. There are a few points discussed below as tips for the new Bitcoin investors.

Gather related information
You need to gain information related to Bitcoin’s trading mechanism as well as volatility. Once you gather the required information, you can have better decision making ideas. Bitcoin is different from the primaeval kind of derivative tradings like currency pairs and commodities.

Judge your investment with Bitcoin
To trade in Bitcoin, you may incur a significant amount of fund as an investment; in case of the adverse market scenario, you need to know your investment capability, holding period and loss capability thus you don’t have any significant impact in your daily life. Think before investing as any profit/loss you could afford without deteriorating your social or financial life. Furthermore, you need to invest very less in the starting to know the overall functionality and to get accustomed in reality.

Choose a reliable cryptocurrency trading platform
There are so many fake and fraud companies who are offering Bitcoin platform to attract newbies. So you need to find a reliable cryptocurrency trading platform to trade. You need to be very conscious to choose the cryptocurrency exchange which is registered under the company act of those countries as well as licensed by a government authority to carry out the business. You can check online about their legitimacy offers, platforms, and other services, among other platforms.

Analyze security measures
Security is the chief concern in the crypto world when you talk about buying or selling any buy Bitcoin or Altcoin. Factors like hacking and phishing may happen any time in the crypto world, that can cause substantial loss to your invested money ultimately. So it is crucial to take care of the security in the cryptocurrency trading platform and wallets. Your private key is essential to transfer or to use the crypto coins for your purpose.

Get all fees details
Before investing in Bitcoin, you should find all the charges that are applicable for getting services like buying, selling, transferring, withdrawing, depositing, and spread so that you can calculate the overall loss incurring in transaction per lot or per coin. You should try for lesser service charge or transaction cost and also in compromising with good exchange’s services.

Learn analysis for entry and exit
Analysis for the entry and exit is the last but vital part for new Bitcoin traders because the market volatility is very high as compared to the other market. Therefore, you need to learn technical analysis, fundamental analysis, and also risk management, so that your investment may not be affected by any wrong decisions that you make.
Technical analysis tells the entry-exit point, whereas fundamental analysis updates the reason for price movement. Risk management is required to mitigate the risk arising in the trading session. 
Above discussed points might be helpful for the new Bitcoin investors for taking a rational decision and timed decision, so that you may get good returns on the expected capital. As this is a matter of investment and return, there must be a precaution, and in-depth preparations are required to assure positive return in the form of assets or crypto. Ultimately, investors have to be updated with the crypto world, especially while buy Bitcoin and buy ethereum other Altcoins.

Crypto Trading Tips and Common Mistakes to Avoid | Unicoin DCX

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Many traders who are trading massively in cryptocurrencies like bitcoin and buy ethereum, and such traders are trading to win always but winning in cryptocurrency can happen once they have adequate knowledge about the technicality of trading and risk management. When it comes to trading with leverage, the traders have to rethink their plan to trade crypto coins. As we know that cryptocurrency is highly volatile, we should consider the following cryptocurrency trading tips:

Crypto Trading Tips

Invest before you know the risk
There are always risk associated with cryptocurrency trading despite being well-versed with it. Therefore, you must calculate the percentage of risk and how much that can impact the capital negatively. Also, if the risk is well-calculated and you have agreed positively to bear, then such traders may go for this kind of trading.

Put your investment in different coins
Warren Buffet had once quoted – “don’t put all your eggs in one basket”, and that’s very true to the cryptocurrency market. Hence, you should invest in different coins and avoid investing in only one coin to avoid high risk.

Every trade cannot guarantee a profit
As cryptocurrency is more or less similar to other CFDs like forex or commodity, there are chances of loss also, and no one can promise to be profitable in every trade.

Avoid fear and greed factors
Fear and greed are two emotional factors which need to be eliminated in every way possible since these two are responsible for bad trades. However, it is not possible to eliminate these factors.

Trade with a plan only
“Failing to plan is planning to fail” is the famous saying that is applied for the crypto trading market as well. You should implement a proper, precise plan step by step for getting a good result while trading crypto coins.

Use the risk mitigation tools TP/SL
There is risk mitigation system in every platform where you can lock your risk as well as profit. If you are only buying crypto coins, then you have the option to wait, or you may use for your purpose, but if you are trading for speculation, then you must have price entry and exit points in the calculation. By following this, it helps you to recover and retain in the trading business.

Follow the proven strategies
There are numerous strategies, and every strategy may not give the expected result. Therefore, you need to select few which fits your investment capability and test it in a demo console or simulation. Once the strategy is proven, you may think of implementing it in the live trading account.

Despite the trading tips mentioned, traders may still commit mistakes, but a trader can reduce it day by day. Here are a few common mistakes and their correction measures.

Common Mistakes to Avoid

Unrealistic profit expectation
Unrealistic profit expectation is the common problem for novice traders as they are speculating huge profits without financial calculation with proper tested strategy.

Misinterpreting risk
There are always risks in such type of trading as the market price is not centric to any party because the market forces allocate it. Most of the traders do not have calculative risk and strategies to control.

Untested trading plan
Most of the times, few traders fall trapped with lucrative trading schemes, which leads them to massive loss ultimately. Thus, you should be aware of the trading plan you choose, before implementing in the live account.

Believing rumors
There are some news flashes in the market, which is not real, and traders get trapped while taking entry or exit from the trade.

Unappropriated guidance/reference
A better mentor always generates a better result. However, if our reference or broker is not well equipped for the trading, then it may incur losses for you. Therefore, you must refer valid and genuine links only.

Cryptocurrency trading needs to be carried out with great care as it may give excellent result and adversely, it may bring massive loss as well. Therefore, you need extensive research and analysis before placing any order in cryptocurrencies. Moreover, such type of trading concerns high security also. Thus, the thematic content of this blog generates trading tips along with assisting in eluding the general faults.

Unicoin DCX is a secure platform which makes easy for you to buy cryptocurrency, sell, and store the cryptocurrency and buy Bitcoin, buy Ethereum, and more.

Difference Between Bitcoin Vault and a Wallet

INTRODUCTION

Bitcoin at present is the most valued cryptocurrency that is trending around the world. The reason behind it is the trust and security factor which forms an integral part of the technology it uses. The use of Cryptography in securing the transactions carried out while transferring or receiving these bitcoins make it stand out while comparing it with the standard fiat currencies. The research outlined by the University of Cambridge states that more than 5 million users are using bitcoin as of now.

Bitcoin’s can be stored securely using the following methods.

BITCOIN WALLET

Bitcoin wallet is an address that is encrypted using cryptography to store the bitcoins and secured using a public & private key. The person who has access to these keys can carry out financial transactions related to that wallet. These are similar to an account number and the password of an account, a combination of both is needed to access. Based on this logic there are different kinds of wallets as mentioned below.

  1. Paper bitcoin wallet
  2. Online bitcoin wallet
  3. Offline bitcoin wallet

Paper bitcoin wallet consists of information that is encrypted using a public & private key and written on a piece of paper. The information is neither entered anywhere in the network nor published, hence remain secured from the hackers. Maintaining this piece of paper could be messy when generating a new key for each transaction. Chance of the paper piece with the keys getting worn out, damaged or lost can permanently lock the funds.

OFFLINE BITCOIN WALLET

The limitation of paper bitcoin wallet is taken care of by using the offline bitcoin wallet that consists of a PC which is used to update the encrypted keys. Offline bitcoins are of two types, hardware and software offline wallet.

The hardware wallet is a personal device that can store this encrypted keys and needs an additional authentication making it more difficult for the thieves. Being a bit expensive and dependency of having to connect to a PC are the just the disadvantages.

While the Software Wallet needs special software that has to be installed on a PC or a mobile device to carry out the same functionality. Direct exposure to malware or virus attacks through the OS of the equipment it uses and internet connectivity are some of the disadvantages.

ONLINE BITCOIN WALLET

Taking a Step forward Online Wallet stores the bitcoin on the cloud and can be accessed via any online device through a Wallet service provider. The advantages of being able to access your wallet anytime and anywhere from the world and the option to recover your wallet through individual authentication makes it very useful and equally loved across the community. The disadvantages are of security concern as the storage is somewhere on a remote location and the wallet service provider is the mediator for your access to the wallet.

BITCOIN VAULT

Vault is primarily a chamber or a room that can securely store anything. In case of a bitcoin vault, the security of the bitcoin is the prime motto. To achieve this different safety measures are incorporated. Meanwhile, the same purpose can also be fulfilled using a wallet, then what is the difference between a wallet and a vault.

The main differences are,

ADVANCED ENCRYPTION

The Capital amount of the transaction is kept withheld for 48 hours for the final confirmation. The confirmation has to come from the owner of the asset or in case of a group vault all the members are required to confirm the transaction to initiate the process. The Vault provider ensures proper authenticated by the owners before processing the transaction.

GEOGRAPHIC DISTRIBUTION

The storing of bitcoin data in a geographically distributed location of network servers for added security is known as Cold storage. Storing the complete data in only one server acknowledged as Hot storage is less secure. All these network servers are not connected to the worldwide network in any form to enhance the level of security.

There are some companies that also provides additional features for their vault users.

CONCLUSION

When you compare the probability of using a bitcoin Wallet or Vault, the only difference seems to be of security levels. While one emphasize more on personal trust and safety, the other makes it more secure but with a restriction and dependency. Taking all these into consideration the final decision lies with the user. The user can also buy bitcoin and store it in the wallet provided by the cryptocurrency exchange.

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