Beginners Guide to Binance Exchange

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Binance is one of the top cryptocurrency exchanges right now. It’s a Hongkong based company (soon relocating to Malta for its crypto-friendly approach) and since it launched a year ago it has been creating a lot of buzz in the crypto community. While the company is still fairly new on the market, it has managed to gain a lot of respect and draw interest from traders all over the world thanks to its impressive number of low-cap coins and Initial Coin Offering listings, but also due to its low trading fees.

The company raised around $15 million in an ICO this past July (2017) and immediately acquired 20,000 registered users as part of the raise. The CEO of Binance, Changpeng Zhao, has an impressive resume with years of experience in crypto. He was the Head of Development at Blockchain, Co-founder and CTO of OKCoin, and the Founder and CEO of BijieTech before working on Binance.

Binance has a vast selection of coins with pairings to Bitcoin, Ethereum, Tether and BNB (their native cryptocurrency available only to their customers with a double function – utility and staking benefits).

It is currently strictly a cryptocurrency exchange, so you’re not able to fund your account with fiat currency yet but this is an option that may become available after they move to Malta.

You can only deposit cryptocurrency funds, but there’s no limit on the amount that you can deposit. There are also no fees on any of your deposits.

The amount that you can withdraw each day is determined by your KYC verification tier. Without submitting any verification details, you’re placed at Level 1 and can withdraw up to 2 BTC worth of cryptocurrency a day. This is great for those who shy away from sharing their ID/passport scans and other sensitive data online.

With Level 2 verification, your daily withdrawal limit increases to 100 BTC. For this you will need full KYC documentation.

Binance currently charges a flat 0.1% fee on each trade which is one of the lowest fees I’ve seen. Furthermore, if you choose to pay fees using their own token (BNB), you receive a 50% discount on the trading fee – bringing it down to 0.05%. With this discount, Binance has the lowest fees in the industry.

Click HERE to sign up with Binance Exchange and take a look at my video tutorial on how to get started

I hope this video will make it easier to learn the interface and various tools on the website. Also, don’t forget to check out my tutorial for Kucoin Exchange which is similar to Binance with a different selection of new coins and also very attractive fees.

 

And lastly, here is my top choice for safe storage of my top cryptocurrencies, check out the Ledger Nano S, it can store a large selection of coins, it is a definite MUST HAVE.Ledger Nano S - The secure hardware wallet

 

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KuCoin Exchange – The Basics

Kucoin is one of the many new cryptocurrency exchanges available for those in search of a modern and secure platform to trade on.

It was launched in September 2017 by a group who had already built strong reputations at industry giants, such as GF Securities, Ant Financial, Youling, Jianbang Communication and iBOX PAY.

Kucoin has a very clean and modern layout throughout the website and this extends to the markets overview screen where you can see the available trading pairs and can choose to trade alt coins against BTC, ETH, KCS, NEO & USDT. There isn’t a fiat currency option currently, so users have to use the USDT (Tether) which is the digital token supposedly backed by USD (yet to be proved, so I don’t take long term trades in USDT). Soon it is expected that a fiat trading pair will be supported, possibly USD for a start with more to follow.

Kucoin is among the most straightforward exchanges to use, even for those who are new to the cryptocurrency world and is famous for being an early adopter of new, low-cap coins. This is one of a few reasons to love Kucoin. Another huge incentive is the relatively high withdrawal allowance without KYC verification (you can withdraw up to 2BTC per day without having to send your ID/Passport scans or other sensitive data).

Once you log into your Kucoin account, you can adjust the various settings, keep track of your assets, or manage your rewards, such as invitation bonuses and Kucoin bonuses. As a member of the exchange you are also provided with an affiliate link to share with friends and help grow their community. For this you are rewarded on a commission-based system and paid in KCS (their native coin).

Staking KCS (buy+hold) would also provide you with dividends (daily) from the fees collected by the company on their members trading activities. These are shared across all members in accordance with their staked KCS amounts. In my previous post I discussed the details of the staking benefits.

I highly recommend that you enable 2 factor authentication (2FA) to add an extra layer of security to your account. Any emails and confirmations for deposits or your register email should also be kept for your own record. Customer service is quite responsive on their web-based online chat or via a support ticket.

Opening an account is easy and intuitive, use this link to register for free : https://www.kucoin.com/#/?r=7H327K

Kucoin social media accounts:  Twitter |  Telegram

Here is my complete Beginners Guide Tutorial to get you started :

And lastly, here is my top choice for safe storage of my top cryptocurrencies, check out the Ledger Nano S, it can store a large selection of coins, it is a definite MUST HAVE.Ledger Nano S - The secure hardware wallet

 

How To Buy ETH – 2018 Guide

This is my latest video, up to date, exactly 2 years after my first one.

In this tutorial I’m sharing the exchanges I use when I buy Ether (the currency of Ethereum) and hopefully this will help you in your first purchase.

This is the list of exchanges I use:

Coinbase (fiat currencies : USD, EUR, JPY credit card, bank transfer)  there’s a $10 bonus for every new customer with my link (on your first $100 worth of crypto purchase)

BitPanda (USD, EUR, GBP, CHF – credit card/bank transfer)

Changely (USD – credit card only)

Bitfinex (USD, EUR, GBP, JPY – bank transfer only)

If you have Bitcoin already, use a crypto-only platform, the best ones are:

Binance  – cheapest fees
Bittrex  – one of the older services, not the best fees
Kucoin – new and cheap service fees

Also, here is my top choice for safe storage of my ETH and all the top cryptocurrencies. Check out the Ledger Nano S, it can store a large selection of coins and it’s a definite MUST HAVE. You can see my Tutorial HERE.Ledger Nano S - The secure hardware wallet

 

2 Bitcoin Debit Cards you can use right now (2018)

Many people are asking me how do I spend Bitcoin and what is the easiest way to convert it back to your local currency. Since the beginning of 2018 most users were hit by many regulators who restricted the access to digital currencies in an attempt to slow down the leaking of capital from the banking sector into the crypto sector and it succeeded for a while. It came at a time when Bitcoin was going through a massive correction from its all time high in December and combined with the joint effort from governments and banksters (these two are usually working together as you know) it brought a lot of panic and the subsequent bearish market that is still struggling to recover.

Throughout 2016 and 2017 we had a great number of companies that issued debit cards and users in US, Europe and some Asian countries enjoyed a trouble-free Bitcoin transacting in stores all over the world. This came to halt in January when Visa and their European partner Wavecrest announced a sudden closure of all crypto-related debit cards. Effective immediately. This was unexpected and thousands of people were left in the cold without an alternative.

Fast forward 5 months and we are already seeing two very well-known services offering their card solutions. These are Revolut and Wirex.

Revolut is an online bank with many knock-out prices for a wide range of services such as multi-currency accounts including Bitcoin, free international money transfers, fee-free global spending, no-commission interbank exchange rate and more. As a company they have been around since 2015 with a great track record and reliable service. Their Bitcoin option is available to Premium customers and you can either pay for the premium service (£6.99 per month) or you can qualify for the Bitcoin option by bringing 3 customers via your resonal ref link. As a premium customer you pay lesser fees on withdrawals or currency conversions (mostly free of charge) so it’s the better choice for those who will operate with large amounts. I have been using it since March and I have no complains except the fact that you must buy or sell your BTC inside the app, you cannot receive bitcoin to your account from outside. Fiat currencies supported are: USD, GBP, EUR, AUD, CAD, NZD, CHF, JPY, SEK, HKD, NOK, SGD, DKK and PLN. You can order their card via the mobile app (iphone and android are both supported).

To register for free and check their services and fees use this link:https://bit.ly/2HeEm95

Wirex is another trusted operator that announced their new Bitcoin debit card on 17 May, again in partnership with Visa, minus the crypto hostile Wavecrest partner. Wirex is one of the first crypto debit card service which was originally called “E-coin” in US and later (in 2016) rebranded to Wirex and expanded to Europe and other regions. Fiat currencies supported are USD, EUR and GBP. They charge a monthly fee which is less than Revolut charges per month but their fees for usage (i.e. ATM fee, loading fee, currency conversion fee) are slightly higher. This would be the better option for people who work with small amounts. The fees are listed on their website and may change so it’s best to check these prior to ordering. All card fees are in compliance with Visa so they are pretty standard. Currently only Bitcoin is available but there’s plans to add Litecoin and possibly more altcoins will be added as time goes by.
You can order your card from their website or via the mobile app available on Iphone and Android : https://bit.ly/2IZ84Q2

Both service providers require KYC (know your customer) identification verifying, without which they would not be able to operate. This is also a standard nowadays, all companies are required to comply with the regulators where they are based and there’s currently no option for unverified customers to use their cards (the limit for Revolut is 200 euros without verification which is to avoid money laundering and other fraudulent activities).

I will keep you updated on more of these services when they become available, right now there are 4 other companies coming up with their own physical card solutions so make sure you keep an eye on my posts. I hope this will help many people to have easy access to their crypto funds and trouble-free experience.

The links for the two services are:

Wirex : https://bit.ly/2IZ84Q2

Revolut : https://bit.ly/2HeEm95

BNB vs KCS – benefits of 2 staking coins

There are many staking coins and various ways they reward their hodlers. Some require running a masternode, others require longer lock-in period of the coins or a higher amount limit. And then there are those with a simpler, more user-friendly strategy like BNB and KCS which share a similar model so it makes sense to compare them here.

Both coins are serving as utility tokens for two big exchanges:

Binance is currently the fastest growing alt coin exchange platform with over 3 million customers and an excellent selection of alt coins. Kucoin has a smaller memberbase and subsequently, a smaller volume which is also reflected in the value of their coin. Both BNB and KCS have been gaining traction in the past 6 months and have produced impressive results but the obvious leader in this race so far is Binance Coin with an average price of $13 (at the time of writing) and estimated market cap of 1.5 billion USD. Kucoin Shares is lagging in comparison and currently stands at around $4 with an estimated market cap of 43 million USD.

More about Binance Coin (BNB) :
The current circulating supply of BNB is 114,041,290 from which the company allegedly has around 80 million safely stored. Total supply is capped at 200 million but they are burning some of these (if I am correct they buy 20% of the supply per year back and destroy it) to increase the price which is becoming a common practice for many alt coins.

Rewards: discounted fees to members depending on the amount of BNB they stake. Binance as an exchange has a fee of 0.10% on each trade. When using BNB this fee is reduced by 50%. The amount is automatically calculated and reduced from the BNB Tokens in the wallet. This is the way Binance is rewarding its customers for staking its coin which in return brings more value to the coin due to scarcity. Should the demand for the coin continue, it’s a win-win scenario for all members of Binance who are staking. The higher the amount you have, the less fees you pay, which is another incentive for higher staking.

Kucoin Shares has a circulating supply of 11,135,728 KCS and a total supply capped at 200 million KCS as well.
KuCoin Shares were initially distributed through a private sale and an ICO as a means of funding the development and growth of the exchange. Like Binance coin(BNB), KCS can be used to pay trading fees, and doing so rewards users with a significant discount. Unlike Binance Coin, however, KuCoin provides added value to its customers by sharing 50% of all trading fees with all KCS holders. In other words, the exchange is paying a percentage dividend from their trading fees collected for all coins that their members trade at all times. Every quarter, KuCoin takes 10% of its profits to purchase and burn KuCoin Shares. This program will continue each quarter that KuCoin is profitable until 100 million of the 200 million coins in the total supply have been burned.

Both exchanges offer an affiliate program where you are paid commissions for bringing new customers but the terms change every now and then so best will be to check what is the current state of their affiliate plans. With Binance the referral commissions could be up to 40% (for those who stake 500 BNB or more) which can be very rewarding especially for those who have large networks. You have your own referral link that you need to share with your friends and fellow trading enthusiasts and you can start earning some additional revenue in no time.

So far both coins have a lot in common and both have a great potential for further growth but please don’t take this post as a buy-signal. Always analyze the market well first and look for the right entry point. I’m sharing this to bring awareness and give you a sense of perspective for possible trading opportunities. The two exchanges are still in their early days and are experiencing growth which is a positive too. Should anyone decide to get involved, they must keep an eye on all news surrounding the exchanges because it is very likely that any major disruption to the business will reflect in the value of their coin. With that said, I am happily trading both and trying to always keep a healthy balance of either coin on their exchanges.

If you haven’t yet opened an account with either of them here are the links:

Binance: https://www.binance.com/?ref=18518380

Kucoin: https://www.kucoin.com/#/?r=7H327K

Why you should register EOS addresses before June 1st

For those who might have missed the memo, EOS is moving to its native blockchain from June 2018. Currently the tokens are Ethereum based, ERC20 type tokens and from June they will move away from Ethereum and will start their own blockchain. This means that we (EOS token hodlers) will have to do what is called a “coin swap” but it is a very simple process.

First, let me point out that if you are keeping your tokens on an exchange, most likely they will deal with this and you will not have to do anything. Binance has already announced support for the token-swap but Bittrex has not made a statement as of yet (May 2018) so it might be best to do this yourself. The easiest option you have is Exodus – this wallet provides the most simple and straightforward way to register your wallet address. Take a look at my video tutorial to see what you need to do:

References:

Buy EOS on Binance

Exodus: https://support.exodus.io/article/690-how-do-i-register-my-eos-address-inside-exodus
Jaxx: https://support.decentral.ca/hc/en-us/articles/360001776114-How-to-register-the-EOS-tokens-held-in-Jaxx
Coinomi: https://coinomi.freshdesk.com/support/solutions/articles/29000020874-how-can-i-register-my-eos-tokens-

Also, you can check out my top choice for hardware (cold) storage of your top coins. The Ledger Nano S is the best device on the market that offers safe and trusted solution for storing a huge number of Alt Coins and Bitcoin of course.


Ledger Nano S - The secure hardware wallet

Privacy Coins

 

In the abundance of crpytocurrency projects out there, many are aiming to improve on what is currently lacking in the privacy sector. As more and more people are adopting cryptocurrencies, they begin feeling too exposed because of the public record they keep of all transactions executed.

This is why we are talking about Privacy Coins – those projects that add layers of anonymity or privacy – the lack of which is considered to be the “Achilles Heel” of Bitcoin and many of the most popular Alts.

In a way, privacy coins are an evolution in crpyto. At first many people don’t realize that Bitcoin transactions are not completely anonymous in the sense that the owner of each wallet is unknown, but every transaction is recorded and visible to anyone on the public ledger. This means that all transactions for a given wallet can be seen and audited. Therefore, if a person’s real-world identity is linked to a Bitcoin wallet address then anonymity is compromised.

Like Bitcoin, most privacy coins utilize a public ledger for transactions, but they add various ways of obscuring the identity of a sender or receiver of a transaction. In some cases even the amount is obscured or the user’s IP address. The leading privacy coins implement different solutions to this problem, but the key point is that the link between sender and receiver for a given transaction is obscured which obstructs tracking the activity of wallet addresses.

The more we start using cryptocurrencies in everyday activities, the more traceable and transparent our history becomes, many times we sacrifice a great degree of privacy in the name of security and protection against malicious third-party practices, but ever so often there comes the need for a truly private use whether it be for personal reasons or from a practical Business point of view such as the example of companies often need to maintain certain agreements with manufacturers and suppliers secretive, not open to the public ahead of a product launch.

Additionally, we are also facing some new regulatory issues (mainly in the Eurozone) in regards to using a publicly accessible and permanently recorded on a public ledger data. There are laws in the making that are aiming to provide personal freedom in regards to what data is being stored about individuals and being accessible in the public domain which is another concern of many crypto users today.

Privacy coins are designed to solve these issues and grant transaction anonymity in a decentralized and scalable way.

Let’s take a look at some of the leading technologies that have been developed so far in this space and I will try to keep things uncomplicated.

monero

When we compare the top coins on the market, on top usually comes Monero.

While many other privacy coins started as forks of Bitcoin with added layers of masking, Monero is on an entirely different code and model. It is cryptographically private by default, utilizing several privacy features – most prominently being Stealth Addresses and ring confidential transactions (RingCT) as well as using the CryptoNote technology.

In simple terms, a recipient is able to receive multiple payments through a single address, while at the same time ensuring there are no links on the blockchain between their address and anybody else’s address. This is made possible by Stealth Addresses, where a random one-time address is automatically created for each transaction being made by the sender. In other words, all payments sent to the recipient are routed to unique addresses on the blockchain, which in turn prevents any links – masking the recipient and providing no way to see if anybody else has sent coins to the recipient.

Anonymity is enhanced with the help of Ring Signatures Confidential Transactions: outputs are masked, so the sender is not able to tell if it’s their coins that are then moved by the recipient, ultimately providing untraceability. This is done by grouping the transaction being sent, with other transactions from the blockchain, to obfuscate the outputs being spent and allowing for plausible deniability. Confidential Transactions include a cryptographic proof that the sum of the input amounts is the same as the sum of the output amounts, without revealing the actual numbers.

 

Moving on, the next most popular choice is Zcash.
It implements Zerocash which was an improvement on a protocol called Zerocoin. In contrast to Bitcoin which operates in a transparent manner by broadcasting and verifying payment transactions on a public ledger, with Zerocash these payment transactions are assembled and then verified, ultimately providing increased anonymity to the user.

yellow-zcash-logo

Zcash implements the Zerocash protocol based on zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge). A zero-knowledge protocol is a way for one party to prove to a different party that a given statement is true, without conveying anything other than the statement is indeed true.

In other words, you can verify the correctness of computations without having to execute them and you will not even learn what was executed – just that it was done correctly.

Zcash offers the choice of optional privacy. In other words, privacy (“shielding”) does not come by default. According to Zcash’s blockchain, only a mere 5% of the coins are held in private z-addresses, meaning that the majority of Zcash transactions are still public knowledge and not private at all.

Zcash is not “private by default” particularly due to the inefficiency of zk-SNARKs. The process of creating a transaction with zk-SNARKs is slow and costly according to my research.

 

Next on my list is Dash (formerly known as Darkcoin and XCoin) originally forked from Bitcoin. Dash offers the same features as Bitcoin but has improved capabilities, including instant and private transactions.

dashThe main features of Dash include:

InstantSend : Immediate transactions with ability to handle large volumes.

PrivateSend : A coin mixing service based on a decentralized CoinJoin implementation.

Decentralized Governance by Blockchain (DGBB) : A mechanism for management of future funding and development through a self-governing community. It is a decentralized autonomous organization powered by a Sybil proof decentralized governance and funding system (DGBB) – also referred to as the “treasury system”, it is a consensus mechanism on network development and funding of the Dash ecosystem. 10% of block rewards go to this treasury.
InstantSend is the feature that Dash is really focusing on. They are trying to stand out from the crowd with their simple and user-friendly interface and near-instant transactions.

PrivateSend is decentralized coin-mixing service based on CoinJoin. This includes using Masternodes in place of a single gateway, chaining by mixing with multiple masternodes, restricting the mixing to only accept certain denominations (e.g.: 0.01 DASH, 0.1 DASH, 1 DASH, and 10 DASH, etc). Using PrivateSend mixing requires at least three different participants which allow funds to be merged together and create obfuscated transactions. Speaking of Masternodes, these are members of the Dash network who are “required to have 1000 Dash collateral, a dedicated IP address, and be able to run 24 hours a day without a more than a 1 hr connection loss. Masternodes get paid 45% of the block reward on every block, which is distributed to masternodes one at a time. Typically, around 2 dash is paid to each masternode every 7 days.” (Dash webpage)

Dash is not cryptographically private. Dash delivers anonymity through mixing, utilizing a modified version of CoinJoin – a method initially created to “anonymize” Bitcoins. My research revealed that the mixing process is liable to take up-to several hours or sometimes days to complete, depending on the amount of rounds the coins are chosen to mix through.

 

Similar to Dash (and some may argue “superior” in a way) is PIVX.

PIVX-iconAnother DAO (decentralized Autonomous Organisation), PIVX launched in early 2016 under the name of Darknet (DNET), after a short time it was rebranded to PIVX and is allegedly the first proof of stake cryptocurrency with a Zerocoin protocol level anonymity, thus making it truly fungible.

The PIVX implementation of the Zerocoin protocol converts publicly view-able PIV (Personal Identity Verification) into anonymous PIV.

The main goal of PIVX is also fast-speed transactions. It uses SwifTX technology to achieve near instant transaction confirmations in less than a second to overcome double spending challenges.

The main difference between PIVX and Dash is that PIVX is 100% Proof of Stake. This means PIVX doesn’t rely on miners, instead rewarding holders through a Proof of Stake (POS) mechanism. This way the power is shifted in the hands of the Masternodes who verify transactions instead of the miners.

Swiftly moving onto VERGE – the coin that polarized opinions the most. It’s a Love-it-Or-Hate-it coin project with many devotees but also a lot of fierce critics who claim that the whole project is a hoax.

 

vergeVerge (XVG) began life with the name DarkDogeCoin. In 2016, they re-branded under the current Verge name and any analogies with Doge have been eliminated since.

By default, Verge is not cryptographically private. Verge only offers “privacy” by way of Tor and I2P routing, to obfuscate traffic and conceal a user’s IP address when transacting. There are no cryptographic privacy features with regards to the blockchain, the traceability of transactions and addresses, nor the concealment of the amounts being transacted. All information, including the destination of transactions and the amounts being transacted, are transparent on the blockchain and are easily viewable by an observer. Furthermore, Verge offers a rich list which is seen as a breach of any idea of privacy.

In regards to the protocol of Tor : this is a free software program that you can load in your computer (like a browser) that hides your IP address every time you send or request data on the Internet. The process is layered with heavy-duty encryption, which means your data is layered with privacy protection.

Verge had some recent issues with a 51% attack on the network that caused an accidental hard fork but this was swiftly handled within a few days and the project continues without any significant disruption.

 

zencash-logoZenCash is one of the forks of Zcash (indirectly, as it forked from Zclassic which was the preceding fork) and it is not only a means of transacting but can also be used for secure and anonymous publishing. End-users can provide private communications on blockchain, enabling worldwide anonymous publishing. This allows users to safely and anonymously create posts, without revealing their identity. This is possibly the unique feature of Zencash that makes it stand out in the crowd, with the use of zero-knoledge proofs (zkSNARKs) of course, this makes for a strong contender in the marketplace. It’s somewhat overlooked but with great potential for that matter.

 

deeponionDeepOnion is a new privacy coin project that is generating some interest in the community. Like a few of the other coins in this list, DeepOnion uses TOR to send untraceable transactions. It also uses a mix of Proof-of-Stake and Proof-of-Work protocols to offer fast confirmation times.

DeepOnion also employs stealth addresses to keep transactions private. As mentioned before, a stealth address allows the sender to use a one-time user address for their transactions. The recipient only needs a single address, but before they receive the value that is sent, that block is sent to unique addresses on the chain where they cannot be connected to the sender or recipient’s personal address. This ensures that only the sender and receiver can consistently know where payments originated and where they were sent.

DeepVault is an information storage service that allows users to store data in the blockchain forever. Unlike Bitcoin that has a 1mb block size limit, DeepOnion has a 1.5mb limit. This, coupled with the addition of the PoS mining means that the average block rate is about 47 seconds. During previous testing phases of the mining, it was found that DeepOnion was clearing about 1,825 blocks in 24 hours.

 

komodoKomodo is the underdog in the cryptocurrency world, and also one many are unaware of. The interesting thing, however, is that they are also anonymous crypto.

Komodo achieves this by implementing zk-SNARK protocol inherited from Zcash.

That’s why Komodo also has similar limitations like Zcash in terms of private transactions. Also, Komodo is not only for private transactions because they are much more focused on decentralized exchanges, cross-chain atomic swaps etc.

 

icon_btcp-250pxBTCP Bitcoin Private created much hype recently because it forked out of two coins, Zclassic and Bitcoin, thus gaining a lot of traction very quickly. The project is using the Zerocoin protocol and is technically the same as Zclassic. They recently removed the founder from their team because of internal differences. It’s currently unclear how strong this project will be in the future and there’s a lot of bad press lately, mainly in regards to Rhett’s attempts to repeat the forking formula with other coins, proving that the goal is more about creating airdrops than actual projects of value.

 

zclZclassic has a similar history, it began as a straightforward fork from Zcash minus the founders reward (20% of mined coins are awarded to the founding members of Zcash). It gained a very big community very quickly and was a respected project….until it’s creator began his serial forking of other projects.

There are other privacy-centric projects that I will not go into here, many of which are based on the Zcash protocol and there will be more created for sure like Zcoin (XCZ), Zion (ZOI), Kurrent (KURT) or Hush (HUSH) and Tpay to name but a few.

 

navcoin-nav-logo-250x250Last one I will mention here is NAV Coin. It also competes for a top spot among the key players with a decentralized model in place.

“Managing transactions and the issuing of NavCoin is carried out collectively by the network. NavCoin is open-source; its design is public, nobody owns or controls it” (Nav website)

NAV Coin doesn’t use cryptography to achieve privacy. Instead, they use complicated obfuscation techniques with a sub-blockchain parallel to the main one. The obfuscation is achieved by NavTech servers.

While most other cryptocurrencies implement some form of POW (proof of work) mining, Nav Coin was among the first to implement POS (proof of stake) which makes it possible to earn a 5% interest from staking your NAV. In order to do so, however, you’ll need to operate a staking node on the network. You can do this on your computer by downloading the Nav Coin Core client and setting the amount of NAV you want to stake. (more about staking coins see my previous posts).

This concludes my report for today, I will post some interviews with key developers from some of these projects to help understand them better so stay tuned (subscribe).

And lastly, here is my top choice for safe storage of my top cryptocurrencies, check out the Ledger Nano S, it can store a large selection of coins, it is a MUST HAVE.Ledger Nano S - The secure hardware wallet

Thank you.

OJ Jordan