Topic: Bitamp Bitcoin Web Wallet - Send & Receive Bitcoin Instantly! - page 23. (Read 13557 times)
What do you guys think about layer 2 solutions for payments? Anyone used a Lightning app yet or maybe an L2 app on some other crypto? We have said of course we have a lot of considerations for our tech in future but just want to also get thoughts from potential users.
I know it's Friday so why not share another meme?
Defi is cool and it's a big thing, we agree, but if you guys are out there right now considering a Defi project, please, please make sure you're at least choosing a REAL decentralized platform where you retain custody of your funds. Remember, not your keys, not your Bitcoin!
Defi is cool and it's a big thing, we agree, but if you guys are out there right now considering a Defi project, please, please make sure you're at least choosing a REAL decentralized platform where you retain custody of your funds. Remember, not your keys, not your Bitcoin!
A few helpful things to take into consideration before opening a trade:
About casinos, some have a rule in ToS that they don't allow Coin Join or suspicious illegal money from mixing services so if a customer makes a deposit like that they have right to suspend customer account and related fund. Read ToS and FAQ with keywords and search.
- Trust or Reputation score (if the platform provides it)
- Number of past trades
- Ages of account
- Past trade feedback (the ratio between positive and negative trade feedback)
About casinos, some have a rule in ToS that they don't allow Coin Join or suspicious illegal money from mixing services so if a customer makes a deposit like that they have right to suspend customer account and related fund. Read ToS and FAQ with keywords and search.
Thank you for the helpful reminder! Actually, a lot of exchanges also have some restrictions about where the source of funds come from, so it's very dangerous for anyone to try depositing/withdrawing directly between exchanges and other services like casinos where the legality can be confusing.
So, always take it to your own wallet first, we would say.
A lot of people ask us how to use a Bitcoin service that only accepts Bitcoin and really, there's no other way than to buy Bitcoin first. So if you ever get someone asking you about that, make sure they know the basics of buying. But ask them check to make sure they're not breaking any of the casino’s terms and conditions, and that it’s legal to buy Bitcoin in their country.
And whatever else you do, make sure you get your own Bitcoin wallet first at Bitamp
A few helpful things to take into consideration before opening a trade:And whatever else you do, make sure you get your own Bitcoin wallet first at Bitamp
- Trust or Reputation score (if the platform provides it)
- Number of past trades
- Ages of account
- Past trade feedback (the ratio between positive and negative trade feedback)
About casinos, some have a rule in ToS that they don't allow Coin Join or suspicious illegal money from mixing services so if a customer makes a deposit like that they have right to suspend customer account and related fund. Read ToS and FAQ with keywords and search.
A lot of people ask us how to use a Bitcoin service that only accepts Bitcoin and really, there's no other way than to buy Bitcoin first. So if you ever get someone asking you about that, make sure they know the basics of buying. But ask them check to make sure they're not breaking any of the casino’s terms and conditions, and that it’s legal to buy Bitcoin in their country.
And whatever else you do, make sure you get your own Bitcoin wallet first at Bitamp
And whatever else you do, make sure you get your own Bitcoin wallet first at Bitamp
So with all the talk of Defi going on, don't you guys think most of the projects claiming to be Defi are really just centralized finance and should be called Cefi?
I mean, not even all of them have non-custodial wallets. At the very least that part should still be in control if you even want to start thinking about calling yourself Defi, right?
I mean, not even all of them have non-custodial wallets. At the very least that part should still be in control if you even want to start thinking about calling yourself Defi, right?
I couldn't agree more! A lot of shady ones popping up but.. I have seen some solid ones that I'll be interested in seeing what the future holds for
Yeah, I guess this really is the ICO of 2020, isn't it? Defi this and that. Every company wants to be seen as modern and up with the times, but of course, I'm not knocking all Defi for being Defi. I just think we ought to e careful and at least go for non-custodial wallets and smart contracts. Hard to tell at a glance though!
So with all the talk of Defi going on, don't you guys think most of the projects claiming to be Defi are really just centralized finance and should be called Cefi?
I mean, not even all of them have non-custodial wallets. At the very least that part should still be in control if you even want to start thinking about calling yourself Defi, right?
I mean, not even all of them have non-custodial wallets. At the very least that part should still be in control if you even want to start thinking about calling yourself Defi, right?
I couldn't agree more! A lot of shady ones popping up but.. I have seen some solid ones that I'll be interested in seeing what the future holds for
So with all the talk of Defi going on, don't you guys think most of the projects claiming to be Defi are really just centralized finance and should be called Cefi?
I mean, not even all of them have non-custodial wallets. At the very least that part should still be in control if you even want to start thinking about calling yourself Defi, right?
I mean, not even all of them have non-custodial wallets. At the very least that part should still be in control if you even want to start thinking about calling yourself Defi, right?
Sunday question for Bitcoin newcomers: When receiving a Bitcoin payment, can you see the address the payment is from?
Answer?
Absolutely. As long as the transaction is broadcast to the network, then everything is immediately viewable on the blockchain. Just visit any blockchain explorer like Blockchair — Universal blockchain explorer and search engine then enter your transaction ID, you will be able to see the sending address.
In fact, just opening your wallet and viewing the details should also give you this.
Better still, using a blockchain explorer to view your Bitcoin address shows ALL transactions sending and receiving, including all addresses. These cannot be hidden in Bitcoin’s blockchain!
Answer?
Absolutely. As long as the transaction is broadcast to the network, then everything is immediately viewable on the blockchain. Just visit any blockchain explorer like Blockchair — Universal blockchain explorer and search engine then enter your transaction ID, you will be able to see the sending address.
In fact, just opening your wallet and viewing the details should also give you this.
Better still, using a blockchain explorer to view your Bitcoin address shows ALL transactions sending and receiving, including all addresses. These cannot be hidden in Bitcoin’s blockchain!
A favorite question we get asked is, what's the easiest way for a first time BTC user to get a wallet? For us of course, we developed Bitamp wallet precisely to answer this problem of every day BTC introduction!
The easiest way, in my opinion, would be to use a web wallet that doesn’t require him to download and install an app — this means there is one less process for him to complete, and a web wallet simply means he can use any device with a browser and internet.
Bitamp is one such wallet designed specifically for newbies in the space, understanding that complex wallet creation is a hurdle to Bitcoin adoption.
Why Bitamp? You can sign up for a wallet in 10 seconds, it simply generates your seed for you. It’s never stored on our side so only YOU have control. You can use ALL three formats of Bitcoin so you’re covered everywhere!
Coinbase is also easy but you’d have to be a US citizen or in some other parts of EU for you to be allowed to use it. Bitamp has no such restrictions:)
The easiest way, in my opinion, would be to use a web wallet that doesn’t require him to download and install an app — this means there is one less process for him to complete, and a web wallet simply means he can use any device with a browser and internet.
Bitamp is one such wallet designed specifically for newbies in the space, understanding that complex wallet creation is a hurdle to Bitcoin adoption.
Why Bitamp? You can sign up for a wallet in 10 seconds, it simply generates your seed for you. It’s never stored on our side so only YOU have control. You can use ALL three formats of Bitcoin so you’re covered everywhere!
Coinbase is also easy but you’d have to be a US citizen or in some other parts of EU for you to be allowed to use it. Bitamp has no such restrictions:)
Another query we answered, this time on Reddit, was about what the difference is about keeping BTC on an excahnge and keeping it in your wallet.
Our answer, is always predictable:)
The units will never change. Imagine holding 1 US dollar, and its value in euros keeps changing. Whether you keep the dollar in a bank account or in your wallet, the $1 is always $1.
There is one really important difference. Keeping it on an exchange means you are trusting the exchange will give it back to you when you ask for it. And you only need to look at the past 11 years of history to see that this doesn't end well for a lot of people when exchanges get hacked, go bust, or just decide to arbitrarily withhold your bitcoin.
Our advice! Keeping it in your own wallet, where you, and only you, hold the private keys (and therefore control), means you can use it, sell it, send it, whenever you want. Make sure you get yourself a wallet like that. Start with something easy, like Electrum or Bitamp, and then move on up when you're more confident.
Our answer, is always predictable:)
The units will never change. Imagine holding 1 US dollar, and its value in euros keeps changing. Whether you keep the dollar in a bank account or in your wallet, the $1 is always $1.
There is one really important difference. Keeping it on an exchange means you are trusting the exchange will give it back to you when you ask for it. And you only need to look at the past 11 years of history to see that this doesn't end well for a lot of people when exchanges get hacked, go bust, or just decide to arbitrarily withhold your bitcoin.
Our advice! Keeping it in your own wallet, where you, and only you, hold the private keys (and therefore control), means you can use it, sell it, send it, whenever you want. Make sure you get yourself a wallet like that. Start with something easy, like Electrum or Bitamp, and then move on up when you're more confident.
I don't see how it can happen from a stranger. Because the sender has to have BTC address of receiver. From a spreadsheet, from any source but I think most of time they are friends and have trades in the past. It is so lucky if I receive such donation by mistake and don't know who is sender to refund.
You have a point, but if you've used your wallet already, then your addresses are public already on the blockchain. And since most people don't actually practice single use addresses, I guess it's not impossible to have unexpected bitcoin sent to you if they somehow found it on a blockchain.
Not a practical scenario for sure, but an ethical one.
And then we have all those dust sprayers trying to just taint everyone with bad inputs!
Someone asked us today on Quora, "what would we do if we randomly received 1 BTC in our wallet?"
Well, the obvious question would be, who it’s from, and why, but it’s moot because once it’s in your wallet, it’s yours. That’s the beauty of Bitcoin;)
Ethical dilemmas, anyone?
I don't see how it can happen from a stranger. Because the sender has to have BTC address of receiver. From a spreadsheet, from any source but I think most of time they are friends and have trades in the past. It is so lucky if I receive such donation by mistake and don't know who is sender to refund. Well, the obvious question would be, who it’s from, and why, but it’s moot because once it’s in your wallet, it’s yours. That’s the beauty of Bitcoin;)
Ethical dilemmas, anyone?
Someone asked us today on Quora, "what would we do if we randomly received 1 BTC in our wallet?"
Well, the obvious question would be, who it’s from, and why, but it’s moot because once it’s in your wallet, it’s yours. That’s the beauty of Bitcoin;)
Ethical dilemmas, anyone?
Well, the obvious question would be, who it’s from, and why, but it’s moot because once it’s in your wallet, it’s yours. That’s the beauty of Bitcoin;)
Ethical dilemmas, anyone?
There are many P2P marketplaces. A list of LocalBitcoin alternatives (P2P marketplaces). Bisq is a pure decentralized exchange. Paxful is old enough (since 2015), maybe you forgot Paxful that brings 300+ payment methods to users.
Paxful of course:) Too many to remember and with so many coming online, hard to keep up. Not to mention all the DEXes on other platforms!
I have to say that I am very impressed with how smooth everything is running here. Love the wallet and I appreciate innovation in this space, keep it up!
Thank you! We admit there is still a lot to improve and many more things on the roadmap to achieve but we're very happy to see people give feedback and comments like yours motivate us.
I have to say that I am very impressed with how smooth everything is running here. Love the wallet and I appreciate innovation in this space, keep it up!
Someone asked us about buying and selling Bitcoin in different countries and for us, the easiest way to do this right now? Localbitcoins or Localcryptos or some similar peer-to-peer trading platform (P2P). I’m suggesting these two as the former is the oldest and biggest with the largest volume, while the second is upcoming and gaining in popularity as there is no KYC needed for it.
You can easily filter traders by country and currency from both platforms.
Of course, if you still want to keep your bitcoins in your wallet, as we'd love to, we think Bisq is a great option. What do you guys think?
There are many P2P marketplaces. A list of LocalBitcoin alternatives (P2P marketplaces). Bisq is a pure decentralized exchange. Paxful is old enough (since 2015), maybe you forgot Paxful that brings 300+ payment methods to users. You can easily filter traders by country and currency from both platforms.
Of course, if you still want to keep your bitcoins in your wallet, as we'd love to, we think Bisq is a great option. What do you guys think?
Someone asked us about buying and selling Bitcoin in different countries and for us, the easiest way to do this right now? Localbitcoins or Localcryptos or some similar peer-to-peer trading platform (P2P). I’m suggesting these two as the former is the oldest and biggest with the largest volume, while the second is upcoming and gaining in popularity as there is no KYC needed for it.
You can easily filter traders by country and currency from both platforms.
Of course, if you still want to keep your bitcoins in your wallet, as we'd love to, we think Bisq is a great option. What do you guys think?
You can easily filter traders by country and currency from both platforms.
Of course, if you still want to keep your bitcoins in your wallet, as we'd love to, we think Bisq is a great option. What do you guys think?
Why are Coinbase fees so high?
We’re talking about money here, and people would rather pay more fees for a service they believe to be more trustworthy and safer.
That perception may not necessarily be founded on good judgment, but that’s not important to the consumer in the end.
Also, Coinbase started out in the US, and right now, there are many restrictions on crypto in the US (probably the country that regulates it the most), and Coinbase for the longest time was one of only a handful of companies that actually had a license for buying and selling Bitcoin. That license, and maintaining the legal and regulatory compliance for it, costs money, which of course is passed on to the consumer.
So, a good start to wean yourself off of these exchanges is to get your own wallet! Like Bitamp;)
We’re talking about money here, and people would rather pay more fees for a service they believe to be more trustworthy and safer.
That perception may not necessarily be founded on good judgment, but that’s not important to the consumer in the end.
Also, Coinbase started out in the US, and right now, there are many restrictions on crypto in the US (probably the country that regulates it the most), and Coinbase for the longest time was one of only a handful of companies that actually had a license for buying and selling Bitcoin. That license, and maintaining the legal and regulatory compliance for it, costs money, which of course is passed on to the consumer.
So, a good start to wean yourself off of these exchanges is to get your own wallet! Like Bitamp;)
Do you lose value when you exchange crypto? Our question of the day we answered and here it is:
The short answer is yes, but the fair answer is, you almost always are guaranteed to lose value when you exchange any currency or asset at a centralized entity, whether it’s a fixed exchange like Coinbase or an orderbook exchange or trade platform like Binance or Bittrex.
You lose value in one or more of these ways:
* the spread between buy and sell price
* the commissions charged on closing or opening each trade
* the fees charged per trade
In fact, the moment you send your crypto to exchange, whether or not its to an exchange or even P2P, you “lose” value because of the fee you pay. Which makes trading a more nuanced activity when you consider you’re immediately in a losing position the moment you want to trade!
The short answer is yes, but the fair answer is, you almost always are guaranteed to lose value when you exchange any currency or asset at a centralized entity, whether it’s a fixed exchange like Coinbase or an orderbook exchange or trade platform like Binance or Bittrex.
You lose value in one or more of these ways:
* the spread between buy and sell price
* the commissions charged on closing or opening each trade
* the fees charged per trade
In fact, the moment you send your crypto to exchange, whether or not its to an exchange or even P2P, you “lose” value because of the fee you pay. Which makes trading a more nuanced activity when you consider you’re immediately in a losing position the moment you want to trade!
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