How to Buy Binance Coin (BNB) instantly in 2020 - A Simple ...
Brief Comments on Goguen: Q4 2020, Q1 2021, utility, Marlowe, DSL, Glow, Plutus, IELE, smart contracts, thanksgiving to you, sidechains and Hydra, Goguen rollout and additions to product update
Summary: Everyone knows that when you give your assets to someone else, they always keep them safe. If this is true for individuals, it is certainly true for businesses. Custodians always tell the truth and manage funds properly. They won't have any interest in taking the assets as an exchange operator would. Auditors tell the truth and can't be misled. That's because organizations that are regulated are incapable of lying and don't make mistakes. First, some background. Here is a summary of how custodians make us more secure: Previously, we might give Alice our crypto assets to hold. There were risks:
Alice might take the assets and disappear.
Alice might spend the assets and pretend that she still has them (fractional model).
Alice might store the assets insecurely and they'll get stolen.
Alice might give the assets to someone else by mistake or by force.
Alice might lose access to the assets.
But "no worries", Alice has a custodian named Bob. Bob is dressed in a nice suit. He knows some politicians. And he drives a Porsche. "So you have nothing to worry about!". And look at all the benefits we get:
Alice can't take the assets and disappear (unless she asks Bob or never gives them to Bob).
Alice can't spend the assets and pretend that she still has them. (Unless she didn't give them to Bob or asks him for them.)
Alice can't store the assets insecurely so they get stolen. (After all - she doesn't have any control over the withdrawal process from any of Bob's systems, right?)
Alice can't give the assets to someone else by mistake or by force. (Bob will stop her, right Bob?)
Alice can't lose access to the funds. (She'll always be present, sane, and remember all secrets, right?)
See - all problems are solved! All we have to worry about now is:
Bob might take the assets and disappear.
Bob might spend the assets and pretend that he still has them (fractional model).
Bob might store the assets insecurely and they'll get stolen.
Bob might give the assets to someone else by mistake or by force.
Bob might lose access to the assets.
It's pretty simple. Before we had to trust Alice. Now we only have to trust Alice, Bob, and all the ways in which they communicate. Just think of how much more secure we are! "On top of that", Bob assures us, "we're using a special wallet structure". Bob shows Alice a diagram. "We've broken the balance up and store it in lots of smaller wallets. That way", he assures her, "a thief can't take it all at once". And he points to a historic case where a large sum was taken "because it was stored in a single wallet... how stupid". "Very early on, we used to have all the crypto in one wallet", he said, "and then one Christmas a hacker came and took it all. We call him the Grinch. Now we individually wrap each crypto and stick it under a binary search tree. The Grinch has never been back since." "As well", Bob continues, "even if someone were to get in, we've got insurance. It covers all thefts and even coercion, collusion, and misplaced keys - only subject to the policy terms and conditions." And with that, he pulls out a phone-book sized contract and slams it on the desk with a thud. "Yep", he continues, "we're paying top dollar for one of the best policies in the country!" "Can I read it?' Alice asks. "Sure," Bob says, "just as soon as our legal team is done with it. They're almost through the first chapter." He pauses, then continues. "And can you believe that sales guy Mike? He has the same year Porsche as me. I mean, what are the odds?" "Do you use multi-sig?", Alice asks. "Absolutely!" Bob replies. "All our engineers are fully trained in multi-sig. Whenever we want to set up a new wallet, we generate 2 separate keys in an air-gapped process and store them in this proprietary system here. Look, it even requires the biometric signature from one of our team members to initiate any withdrawal." He demonstrates by pressing his thumb into the display. "We use a third-party cloud validation API to match the thumbprint and authorize each withdrawal. The keys are also backed up daily to an off-site third-party." "Wow that's really impressive," Alice says, "but what if we need access for a withdrawal outside of office hours?" "Well that's no issue", Bob says, "just send us an email, call, or text message and we always have someone on staff to help out. Just another part of our strong commitment to all our customers!" "What about Proof of Reserve?", Alice asks. "Of course", Bob replies, "though rather than publish any blockchain addresses or signed transaction, for privacy we just do a SHA256 refactoring of the inverse hash modulus for each UTXO nonce and combine the smart contract coefficient consensus in our hyperledger lightning node. But it's really simple to use." He pushes a button and a large green checkmark appears on a screen. "See - the algorithm ran through and reserves are proven." "Wow", Alice says, "you really know your stuff! And that is easy to use! What about fiat balances?" "Yeah, we have an auditor too", Bob replies, "Been using him for a long time so we have quite a strong relationship going! We have special books we give him every year and he's very efficient! Checks the fiat, crypto, and everything all at once!" "We used to have a nice offline multi-sig setup we've been using without issue for the past 5 years, but I think we'll move all our funds over to your facility," Alice says. "Awesome", Bob replies, "Thanks so much! This is perfect timing too - my Porsche got a dent on it this morning. We have the paperwork right over here." "Great!", Alice replies. And with that, Alice gets out her pen and Bob gets the contract. "Don't worry", he says, "you can take your crypto-assets back anytime you like - just subject to our cancellation policy. Our annual management fees are also super low and we don't adjust them often". How many holes have to exist for your funds to get stolen? Just one. Why are we taking a powerful offline multi-sig setup, widely used globally in hundreds of different/lacking regulatory environments with 0 breaches to date, and circumventing it by a demonstrably weak third party layer? And paying a great expense to do so? If you go through the list of breaches in the past 2 years to highly credible organizations, you go through the list of major corporate frauds (only the ones we know about), you go through the list of all the times platforms have lost funds, you go through the list of times and ways that people have lost their crypto from identity theft, hot wallet exploits, extortion, etc... and then you go through this custodian with a fine-tooth comb and truly believe they have value to add far beyond what you could, sticking your funds in a wallet (or set of wallets) they control exclusively is the absolute worst possible way to take advantage of that security. The best way to add security for crypto-assets is to make a stronger multi-sig. With one custodian, what you are doing is giving them your cryptocurrency and hoping they're honest, competent, and flawlessly secure. It's no different than storing it on a really secure exchange. Maybe the insurance will cover you. Didn't work for Bitpay in 2015. Didn't work for Yapizon in 2017. Insurance has never paid a claim in the entire history of cryptocurrency. But maybe you'll get lucky. Maybe your exact scenario will buck the trend and be what they're willing to cover. After the large deductible and hopefully without a long and expensive court battle. And you want to advertise this increase in risk, the lapse of judgement, an accident waiting to happen, as though it's some kind of benefit to customers ("Free institutional-grade storage for your digital assets.")? And then some people are writing to the OSC that custodians should be mandatory for all funds on every exchange platform? That this somehow will make Canadians as a whole more secure or better protected compared with standard air-gapped multi-sig? On what planet? Most of the problems in Canada stemmed from one thing - a lack of transparency. If Canadians had known what a joke Quadriga was - it wouldn't have grown to lose $400m from hard-working Canadians from coast to coast to coast. And Gerald Cotten would be in jail, not wherever he is now (at best, rotting peacefully). EZ-BTC and mister Dave Smilie would have been a tiny little scam to his friends, not a multi-million dollar fraud. Einstein would have got their act together or been shut down BEFORE losing millions and millions more in people's funds generously donated to criminals. MapleChange wouldn't have even been a thing. And maybe we'd know a little more about CoinTradeNewNote - like how much was lost in there. Almost all of the major losses with cryptocurrency exchanges involve deception with unbacked funds. So it's great to see transparency reports from BitBuy and ShakePay where someone independently verified the backing. The only thing we don't have is:
ANY CERTAINTY BALANCES WEREN'T EXCLUDED. Quadriga's largest account was $70m. 80% of funds are in 20% of accounts (Pareto principle). All it takes is excluding a few really large accounts - and nobody's the wiser. A fractional platform can easily pass any audit this way.
ANY VISIBILITY WHATSOEVER INTO THE CUSTODIANS. BitBuy put out their report before moving all the funds to their custodian and ShakePay apparently can't even tell us who the custodian is. That's pretty important considering that basically all of the funds are now stored there.
ANY IDEA ABOUT THE OTHER EXCHANGES. In order for this to be effective, it has to be the norm. It needs to be "unusual" not to know. If obscurity is the norm, then it's super easy for people like Gerald Cotten and Dave Smilie to blend right in.
It's not complicated to validate cryptocurrency assets. They need to exist, they need to be spendable, and they need to cover the total balances. There are plenty of credible people and firms across the country that have the capacity to reasonably perform this validation. Having more frequent checks by different, independent, parties who publish transparent reports is far more valuable than an annual check by a single "more credible/official" party who does the exact same basic checks and may or may not publish anything. Here's an example set of requirements that could be mandated:
First report within 1 month of launching, another within 3 months, and further reports at minimum every 6 months thereafter.
No auditor can be repeated within a 12 month period.
All reports must be public, identifying the auditor and the full methodology used.
All auditors must be independent of the firm being audited with no conflict of interest.
Reports must include the percentage of each asset backed, and how it's backed.
The auditor publishes a hash list, which lists a hash of each customer's information and balances that were included. Hash is one-way encryption so privacy is fully preserved. Every customer can use this to have 100% confidence they were included.
If we want more extensive requirements on audits, these should scale upward based on the total assets at risk on the platform, and whether the platform has loaned their assets out.
There are ways to structure audits such that neither crypto assets nor customer information are ever put at risk, and both can still be properly validated and publicly verifiable. There are also ways to structure audits such that they are completely reasonable for small platforms and don't inhibit innovation in any way. By making the process as reasonable as possible, we can completely eliminate any reason/excuse that an honest platform would have for not being audited. That is arguable far more important than any incremental improvement we might get from mandating "the best of the best" accountants. Right now we have nothing mandated and tons of Canadians using offshore exchanges with no oversight whatsoever. Transparency does not prove crypto assets are safe. CoinTradeNewNote, Flexcoin ($600k), and Canadian Bitcoins ($100k) are examples where crypto-assets were breached from platforms in Canada. All of them were online wallets and used no multi-sig as far as any records show. This is consistent with what we see globally - air-gapped multi-sig wallets have an impeccable record, while other schemes tend to suffer breach after breach. We don't actually know how much CoinTrader lost because there was no visibility. Rather than publishing details of what happened, the co-founder of CoinTrader silently moved on to found another platform - the "most trusted way to buy and sell crypto" - a site that has no information whatsoever (that I could find) on the storage practices and a FAQ advising that “[t]rading cryptocurrency is completely safe” and that having your own wallet is “entirely up to you! You can certainly keep cryptocurrency, or fiat, or both, on the app.” Doesn't sound like much was learned here, which is really sad to see. It's not that complicated or unreasonable to set up a proper hardware wallet. Multi-sig can be learned in a single course. Something the equivalent complexity of a driver's license test could prevent all the cold storage exploits we've seen to date - even globally. Platform operators have a key advantage in detecting and preventing fraud - they know their customers far better than any custodian ever would. The best job that custodians can do is to find high integrity individuals and train them to form even better wallet signatories. Rather than mandating that all platforms expose themselves to arbitrary third party risks, regulations should center around ensuring that all signatories are background-checked, properly trained, and using proper procedures. We also need to make sure that signatories are empowered with rights and responsibilities to reject and report fraud. They need to know that they can safely challenge and delay a transaction - even if it turns out they made a mistake. We need to have an environment where mistakes are brought to the surface and dealt with. Not one where firms and people feel the need to hide what happened. In addition to a knowledge-based test, an auditor can privately interview each signatory to make sure they're not in coercive situations, and we should make sure they can freely and anonymously report any issues without threat of retaliation. A proper multi-sig has each signature held by a separate person and is governed by policies and mutual decisions instead of a hierarchy. It includes at least one redundant signature. For best results, 3of4, 3of5, 3of6, 4of5, 4of6, 4of7, 5of6, or 5of7. History has demonstrated over and over again the risk of hot wallets even to highly credible organizations. Nonetheless, many platforms have hot wallets for convenience. While such losses are generally compensated by platforms without issue (for example Poloniex, Bitstamp, Bitfinex, Gatecoin, Coincheck, Bithumb, Zaif, CoinBene, Binance, Bitrue, Bitpoint, Upbit, VinDAX, and now KuCoin), the public tends to focus more on cases that didn't end well. Regardless of what systems are employed, there is always some level of risk. For that reason, most members of the public would prefer to see third party insurance. Rather than trying to convince third party profit-seekers to provide comprehensive insurance and then relying on an expensive and slow legal system to enforce against whatever legal loopholes they manage to find each and every time something goes wrong, insurance could be run through multiple exchange operators and regulators, with the shared interest of having a reputable industry, keeping costs down, and taking care of Canadians. For example, a 4 of 7 multi-sig insurance fund held between 5 independent exchange operators and 2 regulatory bodies. All Canadian exchanges could pay premiums at a set rate based on their needed coverage, with a higher price paid for hot wallet coverage (anything not an air-gapped multi-sig cold wallet). Such a model would be much cheaper to manage, offer better coverage, and be much more reliable to payout when needed. The kind of coverage you could have under this model is unheard of. You could even create something like the CDIC to protect Canadians who get their trading accounts hacked if they can sufficiently prove the loss is legitimate. In cases of fraud, gross negligence, or insolvency, the fund can be used to pay affected users directly (utilizing the last transparent balance report in the worst case), something which private insurance would never touch. While it's recommended to have official policies for coverage, a model where members vote would fully cover edge cases. (Could be similar to the Supreme Court where justices vote based on case law.) Such a model could fully protect all Canadians across all platforms. You can have a fiat coverage governed by legal agreements, and crypto-asset coverage governed by both multi-sig and legal agreements. It could be practical, affordable, and inclusive. Now, we are at a crossroads. We can happily give up our freedom, our innovation, and our money. We can pay hefty expenses to auditors, lawyers, and regulators year after year (and make no mistake - this cost will grow to many millions or even billions as the industry grows - and it will be borne by all Canadians on every platform because platforms are not going to eat up these costs at a loss). We can make it nearly impossible for any new platform to enter the marketplace, forcing Canadians to use the same stagnant platforms year after year. We can centralize and consolidate the entire industry into 2 or 3 big players and have everyone else fail (possibly to heavy losses of users of those platforms). And when a flawed security model doesn't work and gets breached, we can make it even more complicated with even more people in suits making big money doing the job that blockchain was supposed to do in the first place. We can build a system which is so intertwined and dependent on big government, traditional finance, and central bankers that it's future depends entirely on that of the fiat system, of fractional banking, and of government bail-outs. If we choose this path, as history has shown us over and over again, we can not go back, save for revolution. Our children and grandchildren will still be paying the consequences of what we decided today. Or, we can find solutions that work. We can maintain an open and innovative environment while making the adjustments we need to make to fully protect Canadian investors and cryptocurrency users, giving easy and affordable access to cryptocurrency for all Canadians on the platform of their choice, and creating an environment in which entrepreneurs and problem solvers can bring those solutions forward easily. None of the above precludes innovation in any way, or adds any unreasonable cost - and these three policies would demonstrably eliminate or resolve all 109 historic cases as studied here - that's every single case researched so far going back to 2011. It includes every loss that was studied so far not just in Canada but globally as well. Unfortunately, finding answers is the least challenging part. Far more challenging is to get platform operators and regulators to agree on anything. My last post got no response whatsoever, and while the OSC has told me they're happy for industry feedback, I believe my opinion alone is fairly meaningless. This takes the whole community working together to solve. So please let me know your thoughts. Please take the time to upvote and share this with people. Please - let's get this solved and not leave it up to other people to do. Facts/background/sources (skip if you like):
The inspiration for the paragraph about splitting wallets was an actual quote from a Canadian company providing custodial services in response to the OSC consultation paper: "We believe that it will be in the in best interests of investors to prohibit pooled crypto assets or ‘floats’. Most Platforms pool assets, citing reasons of practicality and expense. The recent hack of the world’s largest Platform – Binance – demonstrates the vulnerability of participants’ assets when such concessions are made. In this instance, the Platform’s entire hot wallet of Bitcoins, worth over $40 million, was stolen, facilitated in part by the pooling of client crypto assets." "the maintenance of participants (and Platform) crypto assets across multiple wallets distributes the related risk and responsibility of security - reducing the amount of insurance coverage required and making insurance coverage more readily obtainable". For the record, their reply also said nothing whatsoever about multi-sig or offline storage.
In addition to the fact that the $40m hack represented only one "hot wallet" of Binance, and they actually had the vast majority of assets in other wallets (including mostly cold wallets), multiple real cases have clearly demonstrated that risk is still present with multiple wallets. Bitfinex, VinDAX, Bithumb, Altsbit, BitPoint, Cryptopia, and just recently KuCoin all had multiple wallets breached all at the same time, and may represent a significantly larger impact on customers than the Binance breach which was fully covered by Binance. To represent that simply having multiple separate wallets under the same security scheme is a comprehensive way to reduce risk is just not true.
Private insurance has historically never covered a single loss in the cryptocurrency space (at least, not one that I was able to find), and there are notable cases where massive losses were not covered by insurance. Bitpay in 2015 and Yapizon in 2017 both had insurance policies that didn't pay out during the breach, even after a lengthly court process. The same insurance that ShakePay is presently using (and announced to much fanfare) was describe by their CEO himself as covering “physical theft of the media where the private keys are held,” which is something that has never historically happened. As was said with regard to the same policy in 2018 - “I don’t find it surprising that Lloyd’s is in this space,” said Johnson, adding that to his mind the challenge for everybody is figuring out how to structure these policies so that they are actually protective. “You can create an insurance policy that protects no one – you know there are so many caveats to the policy that it’s not super protective.”
The most profitable policy for a private insurance company is one with the most expensive premiums that they never have to pay a claim on. They have no inherent incentive to take care of people who lost funds. It's "cheaper" to take the reputational hit and fight the claim in court. The more money at stake, the more the insurance provider is incentivized to avoid payout. They're not going to insure the assets unless they have reasonable certainty to make a profit by doing so, and they're not going to pay out a massive sum unless it's legally forced. Private insurance is always structured to be maximally profitable to the insurance provider.
The circumvention of multi-sig was a key factor in the massive Bitfinex hack of over $60m of bitcoin, which today still sits being slowly used and is worth over $3b. While Bitfinex used a qualified custodian Bitgo, which was and still is active and one of the industry leaders of custodians, and they set up 2 of 3 multi-sig wallets, the entire system was routed through Bitfinex, such that Bitfinex customers could initiate the withdrawals in a "hot" fashion. This feature was also a hit with the hacker. The multi-sig was fully circumvented.
Bitpay in 2015 was another example of a breach that stole 5,000 bitcoins. This happened not through the exploit of any system in Bitpay, but because the CEO of a company they worked with got their computer hacked and the hackers were able to request multiple bitcoin purchases, which Bitpay honoured because they came from the customer's computer legitimately. Impersonation is a very common tactic used by fraudsters, and methods get more extreme all the time.
A notable case in Canada was the Canadian Bitcoins exploit. Funds were stored on a server in a Rogers Data Center, and the attendee was successfully convinced to reboot the server "in safe mode" with a simple phone call, thus bypassing the extensive security and enabling the theft.
The very nature of custodians circumvents multi-sig. This is because custodians are not just having to secure the assets against some sort of physical breach but against any form of social engineering, modification of orders, fraudulent withdrawal attempts, etc... If the security practices of signatories in a multi-sig arrangement are such that the breach risk of one signatory is 1 in 100, the requirement of 3 independent signatures makes the risk of theft 1 in 1,000,000. Since hackers tend to exploit the weakest link, a comparable custodian has to make the entry and exit points of their platform 10,000 times more secure than one of those signatories to provide equivalent protection. And if the signatories beef up their security by only 10x, the risk is now 1 in 1,000,000,000. The custodian has to be 1,000,000 times more secure. The larger and more complex a system is, the more potential vulnerabilities exist in it, and the fewer people can understand how the system works when performing upgrades. Even if a system is completely secure today, one has to also consider how that system might evolve over time or work with different members.
By contrast, offline multi-signature solutions have an extremely solid record, and in the entire history of cryptocurrency exchange incidents which I've studied (listed here), there has only been one incident (796 exchange in 2015) involving an offline multi-signature wallet. It happened because the customer's bitcoin address was modified by hackers, and the amount that was stolen ($230k) was immediately covered by the exchange operators. Basically, the platform operators were tricked into sending a legitimate withdrawal request to the wrong address because hackers exploited their platform to change that address. Such an issue would not be prevented in any way by the use of a custodian, as that custodian has no oversight whatsoever to the exchange platform. It's practical for all exchange operators to test large withdrawal transactions as a general policy, regardless of what model is used, and general best practice is to diagnose and fix such an exploit as soon as it occurs.
False promises on the backing of funds played a huge role in the downfall of Quadriga, and it's been exposed over and over again (MyCoin, PlusToken, Bitsane, Bitmarket, EZBTC, IDAX). Even today, customers have extremely limited certainty on whether their funds in exchanges are actually being backed or how they're being backed. While this issue is not unique to cryptocurrency exchanges, the complexity of the technology and the lack of any regulation or standards makes problems more widespread, and there is no "central bank" to come to the rescue as in the 2008 financial crisis or during the great depression when "9,000 banks failed".
In addition to fraudulent operations, the industry is full of cases where operators have suffered breaches and not reported them. Most recently, Einstein was the largest case in Canada, where ongoing breaches and fraud were perpetrated against the platform for multiple years and nobody found out until the platform collapsed completely. While fraud and breaches suck to deal with, they suck even more when not dealt with. Lack of visibility played a role in the largest downfalls of Mt. Gox, Cryptsy, and Bitgrail. In some cases, platforms are alleged to have suffered a hack and keep operating without admitting it at all, such as CoinBene.
It surprises some to learn that a cryptographic solution has already existed since 2013, and gained widespread support in 2014 after Mt. Gox. Proof of Reserves is a full cryptographic proof that allows any customer using an exchange to have complete certainty that their crypto-assets are fully backed by the platform in real-time. This is accomplished by proving that assets exist on the blockchain, are spendable, and fully cover customer deposits. It does not prove safety of assets or backing of fiat assets.
If we didn't care about privacy at all, a platform could publish their wallet addresses, sign a partial transaction, and put the full list of customer information and balances out publicly. Customers can each check that they are on the list, that the balances are accurate, that the total adds up, and that it's backed and spendable on the blockchain. Platforms who exclude any customer take a risk because that customer can easily check and see they were excluded. So together with all customers checking, this forms a full proof of backing of all crypto assets.
However, obviously customers care about their private information being published. Therefore, a hash of the information can be provided instead. Hash is one-way encryption. The hash allows the customer to validate inclusion (by hashing their own known information), while anyone looking at the list of hashes cannot determine the private information of any other user. All other parts of the scheme remain fully intact. A model like this is in use on the exchange CoinFloor in the UK.
A Merkle tree can provide even greater privacy. Instead of a list of balances, the balances are arranged into a binary tree. A customer starts from their node, and works their way to the top of the tree. For example, they know they have 5 BTC, they plus 1 other customer hold 7 BTC, they plus 2-3 other customers hold 17 BTC, etc... until they reach the root where all the BTC are represented. Thus, there is no way to find the balances of other individual customers aside from one unidentified customer in this case.
Proposals such as this had the backing of leaders in the community including Nic Carter, Greg Maxwell, and Zak Wilcox. Substantial and significant effort started back in 2013, with massive popularity in 2014. But what became of that effort? Very little. Exchange operators continue to refuse to give visibility. Despite the fact this information can often be obtained through trivial blockchain analysis, no Canadian platform has ever provided any wallet addresses publicly. As described by the CEO of Newton "For us to implement some kind of realtime Proof of Reserves solution, which I'm not opposed to, it would have to ... Preserve our users' privacy, as well as our own. Some kind of zero-knowledge proof". Kraken describes here in more detail why they haven't implemented such a scheme. According to professor Eli Ben-Sasson, when he spoke with exchanges, none were interested in implementing Proof of Reserves.
And yet, Kraken's places their reasoning on a page called "Proof of Reserves". More recently, both BitBuy and ShakePay have released reports titled "Proof of Reserves and Security Audit". Both reports contain disclaimers against being audits. Both reports trust the customer list provided by the platform, leaving the open possibility that multiple large accounts could have been excluded from the process. Proof of Reserves is a blockchain validation where customers see the wallets on the blockchain. The report from Kraken is 5 years old, but they leave it described as though it was just done a few weeks ago. And look at what they expect customers to do for validation. When firms represent something being "Proof of Reserve" when it's not, this is like a farmer growing fruit with pesticides and selling it in a farmers market as organic produce - except that these are people's hard-earned life savings at risk here. Platforms are misrepresenting the level of visibility in place and deceiving the public by their misuse of this term. They haven't proven anything.
Fraud isn't a problem that is unique to cryptocurrency. Fraud happens all the time. Enron, WorldCom, Nortel, Bear Stearns, Wells Fargo, Moser Baer, Wirecard, Bre-X, and Nicola are just some of the cases where frauds became large enough to become a big deal (and there are so many countless others). These all happened on 100% reversible assets despite regulations being in place. In many of these cases, the problems happened due to the over-complexity of the financial instruments. For example, Enron had "complex financial statements [which] were confusing to shareholders and analysts", creating "off-balance-sheet vehicles, complex financing structures, and deals so bewildering that few people could understand them". In cryptocurrency, we are often combining complex financial products with complex technologies and verification processes. We are naïve if we think problems like this won't happen. It is awkward and uncomfortable for many people to admit that they don't know how something works. If we want "money of the people" to work, the solutions have to be simple enough that "the people" can understand them, not so confusing that financial professionals and technology experts struggle to use or understand them.
For those who question the extent to which an organization can fool their way into a security consultancy role, HB Gary should be a great example to look at. Prior to trying to out anonymous, HB Gary was being actively hired by multiple US government agencies and others in the private sector (with glowing testimonials). The published articles and hosted professional security conferences. One should also look at this list of data breaches from the past 2 years. Many of them are large corporations, government entities, and technology companies. These are the ones we know about. Undoubtedly, there are many more that we do not know about. If HB Gary hadn't been "outted" by anonymous, would we have known they were insecure? If the same breach had happened outside of the public spotlight, would it even have been reported? Or would HB Gary have just deleted the Twitter posts, brought their site back up, done a couple patches, and kept on operating as though nothing had happened?
In the case of Quadriga, the facts are clear. Despite past experience with platforms such as MapleChange in Canada and others around the world, no guidance or even the most basic of a framework was put in place by regulators. By not clarifying any sort of legal framework, regulators enabled a situation where a platform could be run by former criminal Mike Dhanini/Omar Patryn, and where funds could be held fully unchecked by one person. At the same time, the lack of regulation deterred legitimate entities from running competing platforms and Quadriga was granted a money services business license for multiple years of operation, which gave the firm the appearance of legitimacy. Regulators did little to protect Canadians despite Quadriga failing to file taxes from 2016 onward. The entire administrative team had resigned and this was public knowledge. Many people had suspicions of what was going on, including Ryan Mueller, who forwarded complaints to the authorities. These were ignored, giving Gerald Cotten the opportunity to escape without justice.
There are multiple issues with the SOC II model including the prohibitive cost (you have to find a third party accounting firm and the prices are not even listed publicly on any sites), the requirement of operating for a year (impossible for new platforms), and lack of any public visibility (SOC II are private reports that aren't shared outside the people in suits).
Securities frameworks are expensive. Sarbanes-Oxley is estimated to cost $5.1 million USD/yr for the average Fortune 500 company in the United States. Since "Fortune 500" represents the top 500 companies, that means well over $2.55 billion USD (~$3.4 billion CAD) is going to people in suits. Isn't the problem of trust and verification the exact problem that the blockchain is supposed to solve?
To use Quadriga as justification for why custodians or SOC II or other advanced schemes are needed for platforms is rather silly, when any framework or visibility at all, or even the most basic of storage policies, would have prevented the whole thing. It's just an embarrassment.
We are now seeing regulators take strong action. CoinSquare in Canada with multi-million dollar fines. BitMex from the US, criminal charges and arrests. OkEx, with full disregard of withdrawals and no communication. Who's next?
We have a unique window today where we can solve these problems, and not permanently destroy innovation with unreasonable expectations, but we need to act quickly. This is a unique historic time that will never come again.
For us who use Decentralized Finance (DeFi) as a common term, we know it represents an enormous shift in how we transact with one another: borrowing money, exchanging currencies, how we view insurance, etc. While total assets involved in DeFi still seem to be increasing right now, there are various factors that will prevent us from growing further. DeFi’s largest barriers for adoption Interoperability — Right now Ethereum gas fees seem like they are always increasing and ETH 2.0 may still be 6 months or more away. We need the ability to make DeFi more accessible to individuals who can’t afford high gas prices per transaction and start including native blockchain assets that are stranded on other platforms. Trust — Unfortunately our biggest issue is still trust. While none of us in crypto expect to know the identity of the other party, many of us just send funds to people we don’t know for vague promises of more wealth. In fact, the biggest type of fraud is still the “giveaway scam” which asks offer to send something back — but its only an offer, there is no guarantee. This is totally unsustainable. What about doing business outside of crypto? Ultimately, DeFi doesn’t keep going unless we create methods for non-crypto native businesses to integrate. While the community might approve sending crypto to each other without a safety in place, this will never work for 99% of online marketplaces. So we need:
DeFi options on lower cost platforms
Trading across blockchains
More flexibility for peer to peer transactions
Easier methods for online marketplaces to integrate and use crypto
Bondly is a trusted, transparent and portable swap protocol designed to make you into a marketplace. Our family of trust-enabling, DeFi products are designed to be a part of your everyday buying and selling activities, giving you piece of mind for your next swap or online purchase.
Similar to Binance OTC Trading Portal but directly on-chain and can be sent via any chat app using different blockchains Wallet to Wallet trustless Over the Counter (OTC) trades that are performed by signing a smart contract. Completely portable smart link can be sent via a chat app or on your favorite social media. It will first support all ERC-20 tokens and NFT (Ethereum) then eventually With BSWAP you can:
Sell a large order of a low liquidity token with no risk of slippage
Become your own NFT marketplace by minting the token, setting your own price, then post to your social media for your audience to buy
Buy assets using Debit/Credit card (using our third party partner onramp)
Send smart link in Telegram to someone you know or your favorite group
Similar to Mooniswap but includes rewards token provided to Liquidity Providers on top of fee share Interoperable Decentralized Exchange (DEX) thats easy to use and blockchain agnostic. Requires liquidity provider (LP) participants to pool assets for a portion of transaction fees along with rewards APY rewards. Our pricing engine will compare major cross chain swap options and will let you know the best one to use (even if its not us). Validation is done directly within your Web3 browser (with Metamask) or polkadot.js based Native Wallet. With BOND DEX you can:
Trade native assets on Polkadot with USDC on Ethereum
Get recommendations on the cheapest bridge transaction path
Create your own asset pairs that otherwise might not exist
BOND PROTECT (BPROTECT)
Similar to Paypal/AliPay Express Buyer Protection combined with Escrow.com with a simple UX like Zapper.fi or Zircon This is our most revolutionary product that we feel will have the largest impact to the eCommerce market. PROTECT is decentralized escrow and buyer protection for customers of crypto friendly marketplaces.
Designed to replace all site specific crypto escrow products with an easy to use API and completely smart contract driven product. Marketplaces may still be in a ‘validator’ role for the marketplace transaction but now they don’t have direct access to funds. This mitigates misappropriation by the marketplace along with exit scamming
By participating in the Bondly network, marketplace vendors can represent themselves as BPROTECT ready and show their on-chain transaction history and successful Bondly enabled deals
BPROTECT will have a similar UX to Zapper.Fi that will pull this vendors on chain activity and history into one place across ethereum and our native substrate chain so you can see their status and history
Functions as a ‘Buyer Protection’ similar to most major marketplaces, where customers are protected by collateral within Bondly
First customers will be marketplaces that sell digital goods like Domain Names and In-Game items and that support crypto payments already. Existing domain name credentials and ownership will be wrapped in an NFT and swapped for requested crypto directly
Requires that the marketplace itself stakes Bondly collateral as well as each individual marketplace vendor
COMPLETELY UNDERCUTS the whole ‘fake review’ industry which is prominently used to inflate value on sites like Amazon.com
With BPROTECT you can
Give more trust to your buyers that you will provide the purchased asset in a timely fashion
As a buyer you can request sellers to use this method so you have more trust
Sell an asset via OTC that you do not have yet (e.g. waiting for vesting) by staking collateral in the Bondly network
Set up recurring payments from individuals to vendors that can deduct from your account every month, similar to a Netflix subscription completely crypto enabled
How does BOND PROTECT work?
For individual OTC Trades:
Seller stakes collateral and ensures the buyer will receive asset by a specified date or with a specific condition
If agreement is violated, collateral is forfeited and transferred to the buyer
For Marketplace Vendors:
Vendors stake collateral (earning staking rewards for doing so)
Should a vendor violate a sale condition (e.g. not deliver a good on time), BOND collateral is provided to buyers as compensation
Each sale is recorded on-chain for transparency
Vendors who provide extended positive service with a long term history are rewarded through our staking/LP rewards program
As our ‘sibling’ projects Darwinia and Bifrost have realized, Polkadot and using Substrate represents a phenomenal step forward in interoperability. It offers:
Total flexibility for building a cross asset non-custodial token bridge
Seamless integration of our partners/peer bridges between infrastructure
Built in network security
Efficient token standard indexing for every type of asset in every type of blockchain
We don’t have Digital Money without Bitcoin; We don’t have Smart Contracts and DeFi without Ethereum; We don’t have true interoperability without Polkadot and Substrate. In a future article we will talk more about our Kusama testnet release.
Whats next for BONDLY?
BONDSWAP for Ethereum, the first formal product release, will be available soon (so hold off on your OTC transaction until then). This will include support for the Bondly staking program. Detailed roadmaps for the other products will be announced soon! In the meantime we will be making additional articles (but not limited to) the following topics:
How to buy Bitcoin and Deposit on Roobet Full Tutorial
Hello! In this thread I will do my very best to explain how to purchase Bitcoin safely and deposit it onto Roobet.com ! If anything is too confusing or you need further instructions feel free to message a mod for help!Be very aware of other users offering to sell you bitcoin or purchase on your behalf.If you are new to Bitcoin in general I strongly recommend watching this quick video on the basics of bitcoin safety https://www.youtube.com/watch?v=2z2xggmeW1AAfter you have watched that or you already understand bitcoin skip to down below! Buying Bitcoin Step 1 Chosing an exchange Ok so you want to buy bitcoin to play on roobet? No problem! Bitcoin is super easy to use once you understand it! The first thing you need to do is pick an exchange to purchase from. I would recommendcoinbaseas it is a very large and trusted exchange.If coinbase does not work in your region then I would recommendBinance The last option if buying online doesn't work would be a local Bitcoin ATM use google to find one close to you. Step 2 Signing up -coinbase Sign up using https://www.coinbase.com/join/carava_zo to get a bonus 10$ btc on your first purchase Once you create an account you will be prompt to verify both a Email & Phone Number *Sometimes a photo id is required* *(It is recommend to add one as it will improve account security and increase your buying limit)* Follow the on screen prompts until you get to Add Payment Method Add your method of payment Once you link a Bank/Credit Card you will now be in the main page https://preview.redd.it/a58hftutv8d51.png?width=1892&format=png&auto=webp&s=9ce87ba198fdcaad10a2da4725c1030fca4d1741
Copy the Bitcoin Address (Your bitcoin address not the one in the screenshot)
Head back to coinbase
You should still have the Sent/Receive tab open if not open it back up
Put in the amount of BTC you wish to send
I like to add a note to keep my purchases organized this is optional
PASTE THE ROOBET DEPOSIT ADDRESS WE COPIED FROM STEP 1
DOUBLE TRIPLE QUADRUPLE CHECK THE ADDRESS IS CORRECT YOU ONLY GET 1 SHOT AT THIS GO SLOW
If everything looks good click send
TRIPLE CHECK BEFORE CLICKING SEND You will be given a confirmation screen again take note of the fees It is easy to get confused especially with currency conversion its always best to look at the BTC amount not the $ amount. (pro tip) Last chance to check everything Once you confirmed everything click send and the BTC is on its way! Go back to roobet and keep an eye on your notifications. Thanks to Roobet Instant funding you only need 1 confirmation before your funds are ready to go! https://preview.redd.it/14x2wwmo59d51.png?width=524&format=png&auto=webp&s=d40212fd1b67555fecb6e7f69c78d47c1abe569f Thats it!!!!You have successfully purchased and added BTC to your roobet account! Things to note Bitcoin is risky be safe take time to learn it Gambling is risky... Crpto is risky this website combines both please take the appropriate steps to ensure not only your financial safety but also your metal health Play Smart Play Safe Thank you for reading!if this helped you at all I would love it if you used my links above when signing up This was my first reddit guide I apologize if it is messy/confusing I will work on the formatting any Feedback is appreciated -Dom
Aryacoin is a new cryptocurrency, which allows for decentralized, peer to peer transactions of electronic cash. It is like Bitcoin and Litecoin, but the trading of the coin occurs on sales platforms that have no restriction to use. Further, it was created with the goal of addressing the double spend issues of Bitcoin and does so using a timestamp server to verify transactions. It works by taking the hash of a block of items to be timestamped and widely publishing the hash. The timestamp proves that the data must have existed at the time in order to get the hash. Each timestamp then includes the previous timestamp in its hash, forming a chain. The Aryacoin team is continuously developing new use cases for the coin, including exchanges where users can exchange the coins without any fees or restrictions, and offline options where the coins can be bought and sold for cash. The coins can also be used on the company’s other platform, mrdigicoin.io. Along with the coin, there is a digital wallet that can be created and controlled by the user entirely, with no control being retained by the Aryacoin team.
The concept of Blockchain first came to fame in October 2008, as part of a proposal for Bitcoin, with the aim to create P2P money without banks. Bitcoin introduced a novel solution to the age-old human problem of trust. The underlying blockchain technology allows us to trust the outputs of the system without trusting any actor within it. People and institutions who do not know or trust each other, reside in different countries, are subject to different jurisdictions, and who have no legally binding agreements with each other, can now interact over the Internet without the need for trusted third parties like banks, Internet platforms, or other types of clearing institutions. When bitcoin was launched it was revolutionary allowing people to transfer money to anytime and anywhere with very low transaction fees . It was decentralized and their is no third party involved in the transaction , only the sender and receiver were involved. This paper provide a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions.The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes. Bitcoin was made so that it would not be controlled or regulated but now exchanges and governments are regulating bitcoin and other cryptocurrencies at every step. Aryacoin was developed to overcome these restrictions on a free currency. Aryacoin is a new age cryptocurrency, which withholds the original principle on which the concept of cryptocurrency was established. Combining the best in blockchain technology since the time of its creation, Aryacoin strives to deliver the highest trading and mining standards for its community.
1.1 OVERVIEW ABOUT ARYACOIN
Aryacoin is a new age cryptocurrency, which withholds the original principle on which the concept of cryptocurrency was established. Combining the best in blockchain technology since the time of its creation, Aryacoin strives to deliver the highest trading and mining standards for its community. Aryacoin is a blockchain based project that allows users to access their wallet on the web and mobile browsers, using their login details. Aryacoin can be mined; it also can be exchanged by other digital currencies in several world-famous exchanges such as Hitbtc, CoinEx, P2pb2b, WhiteBit, Changelly and is also listed in reputable wallets such as Coinomi and Guarda. Aryacoin is a coin, which can be used by anyone looking to use cryptocurrency which allows them to keep their privacy even when buying/selling the coin along with while using the coin during transactions. Proof of work and cryptographic hashes allows transactions to verified. Stable Fee Per AYA is a unique feature of Aryacoin, so by increasing the amount or volume of the transaction, there is no change in the fee within the network, which means that the fee for sending an amount less than 1 AYA is equal to several hundred million AYA. Another unique feature of Aryacoin is the undetectability of transactions in Explorer, such as the DASH and Monero, of course, this operation is unique to Aryacoin. Using Aryacoin digital currency, like other currencies, international transactions can be done very quickly and there are no limitations in this area as the creators claim. Aryacoin aims to allow users to access the Aryacoin wallet via the web and mobile browsers using their login details. Aryacoin is a peer-to-peer electronic cash system that enables users to send and receive payments directly from one party to another, and allow them to transfer funds across borders with no restriction or third party involvement. The blockchain-based system embraces the digital signature, which prevents double spending and low transfer fees, which enables users to transfer huge amounts with very low fees. The proof-of-work consensus mechanism allows each transaction to be verified and confirmed, while anonymity enables users to use the coin anywhere at any time. According to the website of the operation, each wallet is divided into 2 or more AYA wallet addresses for each transaction, and depending on the volume of the transaction block, the origin, and destination of transactions in the network can not be traced and displayed to the public. In fact, each wallet in Aryacoin consists of a total of several wallets. The number of these wallets increases per transaction to increase both security and privacy. Aryacoin also uses the dPoW protocol. In the dPoW protocol, a second layer is added to the network to verify transactions, which makes “51% attack” impossible even with more than half of the network hash, and blocks whose Blockchain uses this second layer of security never run the risk of 51% attacks. AYA has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin from any large exchanges and then transfer to the exchange that offers to trade this coin.
1.1.1 ARYACOIN HISTORY
Aryacoin (AYA) is a new cryptocurrency, which has been created by a group of Iranian developers, is an altcoin which allows for decentralised, peer to peer transactions of electronic cash without any fees whatsoever. Along with the coin, there is a digital wallet that can be created and managed by the user entirely, with no control being retained by the Aryacoin team. Aryacoin’s founder, Kiumars Parsa, has been a fan of alternative currencies and particularly Bitcoin. “We see people from all around the world using Blockchain technology and the great benefits that came with it and it then that I decided to solve this puzzle for find a way of bringing the last missing piece to the jigsaw. The idea for Aryacoin was born.” Parsa said. Parsa and his team of Iranian ex-pats not only persevered but expedited the project and just a year later, in the summer of 2019, the first version of Aryacoin was released. In 2020, Aryacoin is the first and only Iranian coin listed on CMC. Parsa goes on to state that it is now the strength of the community that has invested in the coin that will ultimately drive its success, alongside its robust technology and appealing 0% network fees. “We have thousands of voices behind Aryacoin. People for the people make this coin. It is a massive shout out for democracy. This had made us base the whole team strategy on the benefits for both our users and our traders.” “One key example is that the network fee on AYA Blockchain is 0%. Yes, absolutely nothing, which which differentiates us from other networks. What also differentiates us from other coins is that we have AYAPAY which is the first cryptocurrency Gateway in the world which does not save funds on third party storage with all funds being forwarded directly to any wallet address that the Gateway owner requests”. “So for the first time ever, and unlike other gateways, incoming funds will be saved on the users account with submitted withdrawal requests then made on the Gateway host website. In AYAPAY which has also been developed by the Aryacoin team, all funds without extra fees or extra costs will directly forwarded to users wallets. We have named this technology as CloudWithdrawal.” “We are continuously challenging ourselves as it is a crowded marketplace. We are striving to have a safer Blockchain against 51% attacks, faster confirmations speeds of transactions, cheaper network fee, growing the market by cooperation with Top tier Exchangers.”
1.1.2 ARYACOIN’S MAIN GOAL
Aryacoin’s main goal is to educate people and give them the freedom to use cryptocurrency in any way they want. Aryacoin empowers the users to transfer, pay, trade cryptocurrency from any country around the globe. Platforms that have been created by Aryacoin Team, as well as those that will go live in future, operate on the same principle and exclude absolutely no one.
1.1.3 PROBLEM ARYACOIN SEEKS TO SOLVE
Aryacoin aims to provide a long-term solution to the problem of double spending, which is still common in the crypto market. The developers of the system have created a peer-to-peer distributed timestamp server that generates computational proof of the transactions as they occur. Besides, the system remains secure provided honest nodes control more CPU power than any cooperating group of attacker nodes. While Bitcoin was designed not to be regulated or controlled, many exchanges and governments have put regulatory measures on the pioneer cryptocurrency at every step. Aryacoin aims to overcome these restrictions as a free digital currency.
1.1.4 BENEFITS OF USING ARYACOIN
Aryacoin solution offers the following benefits:
Real-time update: whether you’re going on a holiday or a business trip, no problem. You can access your coins all over the world.
Instant operations: Aryacoin makes it quite easy for you to use your digital wallet and perform various operations with it.
Safe and secure: all your data is stored encrypted and can only be decrypted with your private key, seed, or password.
Strong security: The system has no control over your wallet. You are 100% in charge of your wallet and funds.
1.1.5 ARYACOIN FEATURES
1. Anonymity The coin provides decent level of anonymity for all its users. The users can send their transactions to any of the public nodes to be broadcasted , the transaction sent to the nodes should be signed by the private key of the sender address . This allows the users to use the coin anywhere any time , sending transactions directly to the node allows users from any place and country . 2. Real Life Usage aryacoin’s team is continuously developing new and innovative ways to use the coins , they are currently developing exchanges where the users can exchange the coins without any fees and any restrictions . They also are currently developing other innovative technologies, which would allow users to spend our coins everywhere and anywhere. 3. Offline Exchanges They are also working with different offline vendors which would enable them to buy and sell the coins directly to our users on a fixed/variable price this would allow easy buy/sell directly using cash . This would allow the coins to be accessible to users without any restrictions which most of the online exchanges have, also increase the value and number of users along with new ways to spend the coin. This would increase anonymity level of the coin. In addition, introduce new users into the cryptomarket and technology. Creating a revolution, which educates people about crypto and introduce them to the crypto world, which introduces a completely new group of people into crypto and a move towards a Decentralized future! 4. Transactions When it comes to transactions, Aryacoin embraces a chain of digital signatures, where each owner simply transfers the coin to the next person by digitally signing a hash of the previous transaction and the public key of the next owner. The recipient can then verify the signatures to confirm the chain of ownership. Importantly, Aryacoin comes with a trusted central authority that checks every transaction for double spending. 5. Business Partner with Simplex Aryacoin is the first and only Iranian digital currency that managed to obtain a trading license in other countries. In collaboration with the foundation and financial giant Simplex, a major cryptocurrency company that has large companies such as Binance, P2P, Changelly, etc. Aryacoin has been licensed to enter the world’s major exchanges, as well as the possibility of purchasing AYA through Credit Cards, which will begin in the second half of 2020. Also, the possibility of purchasing Aryacoin through Visa and MasterCard credit cards will be activated simultaneously inside the Aryacoin site. plus, in less than a year, AYA will be placed next to big names such as CoinCapMarket, Coinomi, P2P, Coinpayments and many other world-class brands today.
1.1.6 WHY CHOOSE ARYACOIN?
If you want to use a cryptocurrency that allows you to keep your privacy online even when buying and selling the coins, the Aryacoin team claims that AYA is the way to go. Aryacoin is putting in the work: with more ways to buy and sell, and fixing the issues that were present in the original Bitcoin, plus pushing the boundaries with innovative solutions in cryptocurrencies. You can get started using Aryacoin (AYA) payments simply by having a CoinPayments account!
1.1.7 ARYANA CENTRALIZED EXCHANGE
Aryana, the first Iranian exchange is a unique platform with the following features:
The first real international Persian exchange that obtains international licenses and is listed in CoinMarketCap.
The first Iranian exchange that has been cooperating with a legal and European exchange for 3 years.
The possibility of trading in Tomans (available currency in Iran) at the user’s desired price and getting rid of the transaction prices imposed by domestic sites inside Iran.
There is an internal fee payment plan by Iranian domestic banks for depositing and withdrawing Tomans for Aryacoin holders in Aryana Exchange.
The number that you see on the monitor and in your account will be equal to the number that is transferred to your bank account without a difference of one Rial.
The last but not least, noting the fact that there is a trading in Tomans possibility in Aryana exchange.
Aryana Exchange is using the most powerful, fastest, and most expensive server in the world, Google Cloud Platform (GCP), which is currently the highest quality server for an Iranian site, so that professional traders do not lag behind the market even for a second. The feature of Smart Trading Robots is one of the most powerful features for digital currency traders. Digital cryptocurrency traders are well aware of how much they will benefit from smart trading robots. In the Aryana exchange, it is possible to connect exchange user accounts to intelligent trading bots and trade even when they are offline. The injection of $ 1 million a day in liquidity by the WhiteBite exchange to maintain and support the price of Tether and eliminate the Tether fluctuations with Bitcoin instabilities used by profiteers to become a matter of course.
1.1.8 HOW DOES ARYACOIN WORK?
Aryacoin (AYA) tries to ensure a high level of security and privacy. The team has made sure to eliminate any trading restrictions for the network users: no verification is required to carry out transactions on AYA, making the project truly anonymous, decentralized, and giving it a real use in day-to-day life. The Delayed-Proof-of-Work (dPoW) algorithm makes the Aryacoin blockchain immune to any attempts of a 51% attack. AYA defines a coin as a chain of digital signatures — each owner transfers the coin to the next owner by digitally signing the hash of the previous transaction and the public key of the next owner, and the receiver verifies the signatures and the chain of ownership.
2. ARYACOIN TECHNOLOGY
They use a proof-of-work system similar to Adam Back’s Hashcash to implement a distributed timestamp server on a peer-to-peer basis, rather than newspaper or Usenet publications. The proof-of-work involves scanning for a value that when hashed, such as with SHA-256, the hash begins with a number of zero bits. The average work required is exponential in the number of zero bits required and can be verified by executing a single hash. For their timestamp network, they implement the proof-of-work by incrementing a nonce in the block until a value is found that gives the block’s hash the required zero bits. Once the CPU effort has been expended to make it satisfy the proof-of-work, the block cannot be changed without redoing the work. As later blocks are chained after it, the work to change the block would include redoing all the blocks after it. The proof-of-work also solves the problem of determining representation in majority decision making. If the majority were based on one-IP-address-one-vote, it could be subverted by anyone able to allocate many IPs. Proof-of-work is essentially one-CPU-one-vote. The majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it. If honest nodes control a majority of CPU power, the honest chain will grow the fastest and outpace any competing chains. To modify a past block, an attacker would have to redo the proof-of-work of the block and all blocks after it, then catch up with, and surpass the work of the honest nodes.
The steps to run the network are as follows:
New transactions are broadcast to all nodes.
Each node collects new transactions into a block.
Each node works on finding a difficult proof-of-work for its block.
When a node finds a proof-of-work, it broadcasts the block to all nodes.
Nodes accept the block only if all transactions in it are valid and not already spent.
This is a very simple system that makes the network fast and scalable, while also providing a decent level of anonymity for all users. Users can send their transactions to any of the public nodes to be broadcast, and the private key of the sender’s address should sign any transaction sent to the nodes. This way, all transaction info remains strictly confidential. It also allows users to send transactions directly to the node from any place at any time and allows the transferring of huge amounts with very low fees.
2.3 AYAPAY PAYMENT SERVICES GATEWAY:
According to creators Aryacoin, the development team has succeeded in inventing a new blockchain technology for the first time in the world, which is undoubtedly a big step and great news for all digital currency enthusiasts around the world. This new technology has been implemented on the Aryacoin AYAPAY platform and was unveiled on October 2. AYAPAY payment platform is the only payment gateway in the world that does not save money in users’ accounts and transfers incoming coins directly to any wallet address requested by the gateway owner without any additional transaction or fee. In other similar systems or even systems such as PayPal, money is stored in the user account.
2.4 CONSENSUS ALGORITHM IN ARYACOIN
The devs introduced the Delayed-Proof-of-Work (dPoW) algorithm, which represents a hybrid consensus method that allows one blockchain to take advantage of the security provided by the hashing power of another blockchain. The AYA blockchain works on dPoW and can use such consensus methods as Proof-of-Work (PoW) or Proof-of-Stake (PoS) and join to any desired PoW blockchain. The main purpose of this is to allow the blockchain to continue operating without notary nodes on the basis of its original consensus method. In this situation, additional security will no longer be provided through the attached blockchain, but this is not a particularly significant problem. dPoW can improve the security level and reduce energy consumption for any blockchain.
2.5 DOUBLE-SPEND PROBLEM AND SOLUTION
One of the main problems in the blockchain world is that a receiver is unable to verify whether or not one of the senders did not double-spend. Aryacoin provides the solution, and has established a trusted central authority, or mint, that checks every transaction for double-spending. Only the mint can issue a new coin and all the coins issued directly from the mint are trusted and cannot be double-spent. However, such a system cannot therefore be fully decentralized because it depends on the company running the mint, similar to a bank. Aryacoin implements a scheme where the receiver knows that the previous owners did not sign any earlier transactions. The mint is aware of all transactions including which of them arrived first. The developers used an interesting solution called the Timestamp Server, which works by taking a hash of a block of items to be ‘timestamped’ and publishing the hash. Each timestamp includes the previous timestamp in its hash, forming a chain. To modify a block, an attacker would have to redo the proof-of-work of all previous blocks, then catch up with, and surpass the work of the honest nodes. This is almost impossible, and makes the network processes more secure. The proof-of-work difficulty varies according to circumstances. Such an approach ensures reliability and high throughput.
3. ARYACOIN ROADMAP
April 2019: The launch of Aryacoin; AYA ICO, resulting in over 30BTC collected December 2019: The launch of AYA Pay April 2020: The successful Hamedan Hardfork, supported by all AYA exchanges, aimed at integrating the dPoW algorithm, improving the security of the AYA blockchain. June 2020: Aryana Exchange goes live, opening more trading opportunities globally July 2020: The enabling of our Coin Exchanger November 2020: The implementation of Smart Contracts into the Aryacoin Ecosystem Q1 2021: Alef B goes live (more details coming soon)
Aryacoin (AYA) is a new age cryptocurrency that combines the best of the blockchain technology and strives to deliver high trading and mining standards, enabling users to make peer-to-peer decentralized transactions of electronic cash. Aryacoin is part of an ecosystem that includes payment gateway Ayapay and the Ayabank. AYA has a partnership with the Microsoft Azure cloud platform, which provides the ability to develop applications and store data on servers located in distributed data centers. The network fee for the AYA Blockchain is 0%. In Ayapay service, which has been developed by the Aryacoin team, all funds without extra fees or costs are directly forwarded to users’ wallets with technology called CloudWithdrawal. The devs team is introducing new use cases including exchanges where users will exchange AYA without any restrictions. You can buy AYA on an exchange of your choice, create an Aryacoin wallet, and store it in Guarda.
How to purchase and exchange your litecoin! (longer read)
This post will show you the best ways to buy litecoins using many different payment methods and exchanges for each method. Before you start, make sure you have a good litecoin wallet to store your LTC. NEVER store your litecoins on a crypto exchange.
Start trading fast; high limits
Easy way for newcomers to get bitcoins
Your capital is at risk.
High liquidity and buying limits
Easy way for newcomers to get bitcoins
“Instant Buy” option available with debit card
Works in almost all countries
Highest limits for buying bitcoins with a credit card
Reliable and trusted broker
Buy Litecoin with Credit Card or Debit Card
Let’s dive into some of the exchanges supporting Litecoin credit card purchases. These exchanges are our favorite ways to buy.
Coinbase is the easiest way to buy litecoins with a credit card. Coinbase is available in the United States, Canada, Europe, UK, Singapore, and Australia. The fees will come out to 3.99% per purchase. Here is a good video that can help walk you through the process of buying on Coinbase, although it’s fairly easy.
Coinmama recently added the ability to buy litecoin directly on the platform. Users from nearly any country in the world can use Coinmama to buy litecoins. Coinmama has some of the highest limits among credit card exchanges.
BitPanda is based in Austria and is a crypto brokerage service. You can buy using a credit card from most European countries.
CEX.io is based in the UK and is one of the oldest crypto exchanges online. CEX.io supports litecoin and its users from nearly anywhere in the world can buy litecoin with credit card on the platform.
Buy Litecoin with Bank Account or Bank Transfer
Coinbase is the easiest way to buy litecoins with a bank account or transfer. Coinbase, like is is for credit cards, is available in the United States, Canada, Europe, UK, Singapore, and Australia. Coinbase is one of primary exchanges used to buy Litecoins. Americans can use ACH transfer (5–7 days wait), and Europeans can use SEPA transfer (1–3 days wait). The fees will come out to 1.49% per purchase.
BitPanda is based in Austria and is a crypto brokerage service. You can buy using SEPA transfer from most European countries. You can also use SOFORT, NETELLER, or GiroPay.
CEX.io also supports litecoin buys via bank account. This is via wire transfer for US citizens, SEPA for Europe, and SWIFT for the rest of the globe.
Binance is now one of the largest if not the largest cryptocurrency exchange in the world. It supports bank and card purchases of Litecoin as well as Litecoin trading pairs with Bitcoin and Etehreum.
Get a Litecoin Wallet
Before we move onto other options: Never store your litecoins on an exchange! Always withdrawal your litecoin to an offline cryptocurrency wallet like the Ledger Nano S or any other wallet that you control. The Ledger Nano S and TREZOR are the best options for secure storage.
Other Methods to Buy Litecoin
If you don’t have a card or want to avoid the high fees, you can use the following methods to buy Litecoin as well. Find out which one works best for you.
Buy Litecoin with PayPal
Unfortunately, there is no easy way to buy Litecoin with PayPal. Other sites will tell you that cex allows for this, but that is no longer the case. You can, however, now use eToro to buy Litecoin, unless you live in the United States. If you live in the US, the only way to buy Litecoin with Paypal is to buy Bitcoin using paypal, and then use the Bitcoins to buy Litecoin. You can easily buy Bitcoin using Paypal on Local Bitcoins. Once you have Bitcoin, you can use an exchange like Coinbase Pro to swap the Bitcoin for Litecoin.
Buy Litecoin with Cash
There is no good way to buy litecoins with cash. LocalBitcoins is the most popular way to buy bitcoins with cash, and it does not have Litecoin support. Other popular cash to Bitcoin exchanges like BitQuick and Wall of Coins also do not support LTC. So you will have to first buy bitcoins with cash then exchange them for LTC using the method described below. The same goes for Bitcoin ATMs. Most do not support Litecoin. So if you want to buy litecoins at a Bitcoin ATM you first have to buy bitcoins and then trade the BTC for litecoins.
Buy Litecoin with Bitcoin
If you already have Bitcoins then it is VERY simple to convert some of your BTC to litecoins. You just need to find an exchange with the LTC/BTC pair, which is most exchanges since LTC/BTC is a very popular pair to trade.
Buy Litecoin with Skrill
BitPanda, mentioned above, also accepts Skrill payments for LTC. The fees will vary and are simply included in your buy price.
Cryptmixer is probably the fastest way to convert BTC to Litecoin. You just enter the amount of LTC you want to buy, and give them a LTC address. Then they will tell you how much BTC to send to their address. Once your BTC is sent, you will have LTC delivered to your wallet very shortly after.
Buy Litecoin with Ethereum
Ethereum has experienced a massive price rise. Nearly a year ago it was $10, and now at over $500, many want to move some of their ETH gains into other coins like Litecoin. Litecoin has very good liquidity, and is very popular among traders especially in China. So this guide is going to show you how to buy litecoins with Ethereum. We will show some of the best exchanges you can use, and the pros and cons of using different types of exchanges over the other.
Cryptmixer is one of the most unique exchanges, and also one of the fastest ways to convert your ETH to LTC. With Cryptmixer you do not even need to store your money with the exchange, meaning you are at very little risk of getting your funds stolen. With Cryptmixer you simply specify the amount of LTC you want to buy, and specific the address to where your litecoins should be sent and within 30 minutes you will have LTC delivered to your wallet.
Poloniex is the world’s largest altcoin exchange. However, there is a huge downside to using Poloniex to convert your ETH to LTC: Poloniex does not have a LTC/ETH market, meaning you have to first trade your ETH to BTC, and then trade your BTC for LTC. While this method works, you will have to make multiple trades and also pay fees twice.
Shapeshift is basically the same as Cryptmixer, and was actually the first company to come up with the concept of an exchange that does not hold your own funds.
Frequently Asked Questions About Buying Litecoin
Many of you may still have lots of questions about how to buy Litecoin. Odds are we have answered almost any question you could think of below. We will aim to answer many of the most common questions relating to buying Litecoin.
Why are there limited options to buying Litecoin using other altcoins?
The issue in all crypto markets is liquidity. As the space gets bigger, the liquidity also gets better. But as of now, the only VERY liquid cryptocurrency is Bitcoin. So exchanging two altcoins between each other is often harder than if BTC was involved on one side of the trade.
How much is a Litecoin worth?
Like all currencies, the value of Litecoin changes every second. The value of Litecoin also depends on the country you are in and the exchange you are trading on. You can find the most up to date price on Coinbase.
How do I buy Ripple (XRP) with Litecoin?
The best way to buy Ripple using Litecoin is to either use a non KYC exchange like Cryptmixer or start an account on Binance or Coinbase Pro and sell your Litecoin for Ripple. Look for LTC/XRP trading pairs, and make your trade.
How long does Litecoin take to confirm?
Litecoin blocks are added ever 2 and a half minutes. That means you should get one confirmation every two and a half minutes. This can vary if it takes miners longer to discover a block, but the difficulty of the finding a block should change proportionate to the hashing power on the network so that a block gets added approximately every 2.5 minutes. If you are trying to send money to a merchant, they may require more than one confirmation before they send you products. If you are depositing on an exchange, they may also require three or more confirmations before they credit your account.
How many Litoshis make one Litecoin?
one hundred million (100,000,000) Litoshis make one (1) Litecoin.
Where do I store Litecoin?
The best place to store litecoin is on a hardware wallet. You can find the best one for you on our page dedicated to hardware wallets.
When is the Litecoin halving?
The expected date of the next Litecoin block reward halving is August 7th, 2023.
Why can litecoin take so long to buy?
Litecoin can take long to buy because the legacy banking system is very slow. If you are buying with another cryptocurrency, you will see how fast it is to buy! Bank transfer in the USA, for example, take about 5 days to complete. So any purchase of Litecoin made with a US bank transfer will take a minimum of 5 days.
How do I buy Litecoin with Paypal?
Unfortunately, there is no easy way to buy Litcoin with PayPal. Other sites will tell you that cex allows for this, but that is no longer the case. You can, however, now use eToro to buy Litcoineum, unless you live in the United States. If you live in the US, the only way to buy Litcoin with Paypal is to buy Bitcoin using paypal, and then use the Bitcoins to buy Litcoin. You can easily buy Bitcoin using Paypal on Local Bitcoins. Once you have Bitcoin, you can use an exchange like Cryptmixer to swap the Bitcoin for Litcoin.
Can you buy partial litecoins?
Yes, litecoin, like Bitcoin, is divisible to many decimal places so you can buy 0.1 LTC, 0.001 LTC, etc.
Can you sell litecoin?
Yes, you can sell LTC on most of the exchanges mentioned above. The fees, speed, and privacy is the same in most cases.
Can anyone buy litecoins?
Anyone is free to buy litecoins, as long as you find an exchange that supports your country. Most cryptocurrency wallets do not require ID to sign up so you can always make a wallet and get paid in litecoin, too.
Which payment method is best to use?
For speed, credit card will likely be fastest. For larger amounts, bank transfer is best. For privacy, it’s best to buy bitcoins with cash and then trade for litecoins using Cryptmixer or Shapeshift.
Is it better to mine or buy litecoins?
If you have cheap electricity, it might be worth it to mine litecoins. If you have solar power or just want to mine for fun then it could be worth it. Otherwise, it’s probably better just to buy. Mining is constantly changing and small changes in Litecoin price or electricity can greatly affect your profitability.
What should I do with my litecoins once I buy?
You should immediately move your litecoins into a secure wallet. You should never leave your litecoins on an exchange. There have been countless hacks in cryptocurrency since Bitcoin was created in 2009. Hundreds of thousands of people have lost money. So buy your litecoins, and then instantly send them into a wallet you control so you are not at risk of losing money to a hack or scam.
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Also, Swipe revealed its plans to launch a DeFi App on Binance Chain called SwipeFi, which will enable Binance Chain tokens to be used to earn interest on their supply of collateral to the protocol and borrow against their collateral directly on the Binance blockchain. Swipe (SXP) Trading Competition Last August 5 to 12, Swipe and Binance team have both committed a total of 100,000 SXP and 50,000 USDT in prizes to thank its users worldwide for their continued support and to also celebrate the Swipe acquisition and SXP/USDT listing in Futures, Margin and Spot markets. The contest was divided into three categories: a new user exclusive rewards, a trading competition, and the Lucky 99, which awarded users ranked 99th, 199th, 299th, 399th, and so forth until the 9999th place of the top 10,000 SXP traders based on their trading volume. 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More details of the staking can be viewed at: https://medium.com/swipe/swipe-wallet-to-support-sxp-staking-acfab4589813 Swipe Reddit AMA In his first blog post on Medium, Swipe CEO Joselito Lizarondo answered the questions that the Reddit community asked regarding Swipe’s activities and plans for the future. He talked about the new partnership programs of Swipe, its newly released “Product Manual,” and the new roadmap, which will be kept in stealth “to focus on bringing maximum value to these announcements and products.” Read the whole transcript of Joselito Lizarondo’s AMA here: https://medium.com/swipe/swipe-reddit-ama-8-13-80690e2f6589 Swipe and Kava Partnership Swipe has formed a strategic partnership with Kava Labs to further grow the USDX DeFi Ecosystem as Swipe prepares to bring decentralized finance applications to the Binance Smart Chain. Swipe has also listed KAVA and USDX on the Swipe Wallet platform where users can buy and sell KAVA and USDX with a linked bank account or credit/debit card as well as enabled it to be converted and spent at over 60 million merchants worldwide with the Swipe Visa Card. $16M+ Ecosystem Rewards Program for BNB Holders on Binance Swipe is launching a 12-week-period $16,000,000 Ecosystem Rewards Program for BNB holders, starting August 17. This program aims to continue to promote the usage of Swipe products, including the Swipe Network Staking and Governance within a strong community. With Swipe’s partnership with Binance, a weekly distribution of 333,333.33 SXP will run to BNB holders on Binance.com. Know more about the Rewards Program here: https://medium.com/swipe/swipe-launches-16m-ecosystem-rewards-program-for-bnb-holders-on-binance-e79ffc9dc252 Swipe’s Chainlink Based Price Oracles Now Live Swipe has collaborated with Chainlink, the market-leading decentralized oracle network, to launch a live SXP-USD price oracle on the Ethereum mainnet. By switching to Chainlink, users receive stronger guarantees around trust and transparency in the payments process, as critical price feeds for the network are now completely decentralized and available to monitor on the blockchain. This decentralized infrastructure ensures that reward issuances and token burns only take place based on accurate, highly available, and tamper-proof on-chain prices that have no single point of failure or absolute truth. Users can independently verify the current price, how price updates occur, which nodes are providing data to the network, and more. This means users no longer need to rely on Swipe to produce fair conversion rates. --- Stay up-to-date with all the latest news from Swipe Website: https://swipe.io Twitter: https://twitter.com/SwipeWallet Facebook: https://facebook.com/Swipe Instagram: https://instagram.com/Swipe Medium: https://medium.com/Swipe Telegram: https://t.me/SwipeWallet & https://t.me/Swipe LinkedIn: https://www.linkedin.com/company/swipewallet YouTube: https://youtube.com/SwipeWallet
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A debit card is a plastic card issued by a bank that allows cardholders to pay for goods or services using funds on their checking account. Debit cards are the most common payment methods used by individuals who want to buy Bitcoin. Unlike credit cards, debit cards can only be used if the card holder has sufficient funds on a bank account. Debit card as a payment method is convenient because your payment transactions are secured and processed immediately. As a result, you can receive your Bitcoin in minutes, if you buy Bitcoin with a debit card. This is not the case when you are using bank wire transfers and some other payment methods to purchase digital assets. https://preview.redd.it/ozn9ljmfaep51.png?width=752&format=png&auto=webp&s=7710953f53f74dbc2856d8a29a820d5c9267f2e4
Where to Buy Bitcoin with a Debit Card?
Almost all crypto exchanges and online services such as Cash App and eToro accept debit cards. Cash App supports debit cards from Visa, MasterCard, American Express, and Discover. However, it currently does not accept PayPal and business debit cards. Unlike cryptocurrency exchanges and other online services, Digital Finance makes Bitcoin purchase process really quick and easy. You can instantly buy Bitcoin with debit card on our website. Currently, we accept all major debit cards, including Visa and Mastercard.
Regulators all over the world require stricter regulations of crypto exchanges, crypto wallets, and other crypto related businesses. Therefore, such companies are forced to be compliant with financial regulations and implement more rigorous and time consuming Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. At the same time, we observe a growing demand for online fiat-to-crypto services that can improve customer experience and make Bitcoin purchase process faster and easier. Such companies as MoonPay and Simplex use a simplified KYC process and allow their customers to buy Bitcoin with a debit card instantly. https://preview.redd.it/d401n3nlaep51.jpg?width=1280&format=pjpg&auto=webp&s=0c795ccdd118d2e8203bd337cc3558f133c9e725 You can learn more about Bitcoin investment products and strategieshere. Legal Disclosure:The information contained in this article is the property ofDigital Finance LLCandcannot be republished without our prior permission. Digital Financeis a Washington, DC, financial company that specializes exclusively in the Bitcoin market. We provide easy and compliant exposure to digital assets and help our customers from all over the world toinstantly buy Bitcoinandearn up to 6% annuallyon their Bitcoin holdings.
A credit card is a plastic card issued by a bank or any other financial institution that allows cardholders to borrow funds to pay for goods or services. Credit card holders need to pay back the principal amount and any applicable interest, in accordance with the credit card terms and conditions. Credit card as a payment method is convenient because your payment transactions are secured and processed immediately. As a result, you can receive your Bitcoin in minutes, if you buy Bitcoin with a credit card. This is not the case when you are using bank wire transfers and some other payment methods to purchase digital assets. https://preview.redd.it/ei79l81vaep51.png?width=466&format=png&auto=webp&s=b895bff653b4a0ec1a09e2d1fcbf10b82bea7a56
Where to Buy Bitcoin with a Credit Card?
Almost all crypto exchanges and online services such as Cash App and eToro accept credit cards. Cash App supports credit cards from Visa, MasterCard, American Express, and Discover. Unlike cryptocurrency exchanges and other online services, Digital Finance makes Bitcoin purchase process really quick and easy. You can instantly buy Bitcoin with credit card on our website. Currently, we accept all major credit cards, including Visa and Mastercard.
https://preview.redd.it/19dqm9kyaep51.png?width=775&format=png&auto=webp&s=d557ed54a96ef700b826e42dd9812e315d2e35e4 Regulators all over the world require stricter regulations of crypto exchanges, crypto wallets, and other crypto related businesses. Therefore, such companies are forced to be compliant with financial regulations and implement more rigorous and time consuming Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. At the same time, we observe a growing demand for online fiat-to-crypto services that can improve customer experience and make Bitcoin purchase process faster and easier. Such companies as MoonPay and Simplex use a simplified KYC process and allow their customers to buy Bitcoin with credit card instantly. You can learn more about Bitcoin investment products and strategieshere. Legal Disclosure:The information contained in this article is the property ofDigital Finance LLCandcannot be republished without our prior permission. Digital Financeis a Washington, DC, financial company that specializes exclusively in the Bitcoin market. We provide easy and compliant exposure to digital assets and help our customers from all over the world toinstantly buy Bitcoinandearn up to 6% annuallyon their Bitcoin holdings.
Binance Binance le facilita a cualquier persona adquirir sus primeros Bitcoin (BTC) Binance makes it easy for anyone to buy Bitcoin (BTC). In this guide Binance ułatwia każdemu zakup Bitcoina (BTC). W tym poradniku pokażemy Ci Bitcoin (BTC) satın almayı herkes için kolaylaştırıyor. Binance provides easy and convenient ways for you to buy Bitcoin instantly, and we put our best efforts to fully inform our users about each and every cryptocurrency we offer on the exchange, but we are not responsible for the results that may arise from your Bitcoin purchase. This page and any information in it is not meant to be interpreted as an endorsement of any particular cryptocurrency ... Buy Bitcoin online with your credit card or debit card. Buy Bitcoin Cash (BCH), Bitcoin (BTC) and other cryptocurrencies instantly. Our guides makes it easy! How to buy Binance Coin (BNB) – A Beginner’s Guide. By: Ofir Beigel Last updated: 8/16/20. Ever since its ICO, Binance has shown meteoric growth. As a result, Binance Coin (BNB) – its token, appreciated in value as well. In this post I’ll give a brief overview of what BNB is and where you can buy it online. How to Buy Binance Coin Summary Users on Binance have the opportunity to choose the most suitable way for them to buy and trade bitcoin: Basic, Classic, Advanced, OTC, and P2P. Additionally, Binance allows users to trade futures ... Buy Bitcoin the cheapest; Buy Bitcoin the fastest; Where can I buy Bitcoin online? It is possible to buy Bitcoin online with a lot of different brokerage services. You can start investing from just € 1 and technical knowledge is needed no more. We listed all the safest Bitcoin brokers with a good reputation on this page, so you can make the ... Trade over 40 cryptocurrencies and enjoy the lowest trading fees in America. Knowing when to buy Bitcoin isn’t easy. I recommend that you head over to CoinMarketCap. Here, you will find the Bitcoin price chart which tells you the current price of Bitcoin, as well as its price history. Since you already know how to buy Bitcoin, let's get some insights about the 'when'. The price of Bitcoin changes all the time, and it should be your goal to buy Bitcoin at the cheapest ... 2. 3 Easy Methods to Buy Bitcoin Anonymously. Note: In June 2019, the popular website LocalBitcoins removed its option for in person cash trades. Method 1 – Paxful. If you’re looking to buy Bitcoins anonymously then the easiest way would be to buy Bitcoins in cash and in person. Use Paxful to find someone who is willing to sell Bitcoins for cash next to your physical location. You can buy Bitcoin with fiat currencies, such as USD, and also with other cryptocurrencies. From our website. Visit our official Buy Bitcoin page. Select the currency you want to buy. Choose whether you want to buy in USD or any other local currency, and enter the amount. Carefully review then add your wallet address and click Continue. Complete the purchase process by creating an account and ...
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