When and how will restaurants take payment in decentralized currency (i.e., Bitcoin, Dogecoin, Ethereum)?
They already do, in many places. All you need to do as a business is decide which app you want to use as a wallet. BTCPayServer is an excellent and easy choice to have control over your own Bitcoin and is used by many webshops already. For a physical terminal you just need to display a request for payment, a customer scans the QR code and pays. Lightning compatible too!
For fiat settlement there are plenty of other options like BitPay!
Topic: Bitamp Bitcoin Web Wallet - Send & Receive Bitcoin Instantly! - page 4. (Read 13668 times)
Is defi really safe? I still own the funds on my wallet right?
Defi rug pulls have happened plenty of times, even though your funds are still on your own wallet, they're actually locked in smart contracts with conditions that are poorly understood. People think locking their funds in smart contracts is safe, until a loophole is exploited and their funds are drained anyway. Best is still to keep your money in your own wallet, without any locking in untrusted smart contracts. Your keys only, nothing else.
Why can't you withdraw cryptocurrencies from PayPal and Revolut?
Because those aren’t actual blockchain wallets like Electrum or Bitamp are.
Cryptocurrencies work by storing data on blockchains, with private keys telling the code who owns which assets and who can control them.
When you buy crypto on PayPal or Revolut, you’re actually just paying these companies to allocate you a value equal to the market price of Bitcoin. You have an account on their database, with absolutely no interaction at all with the actual networks or blockchains of these crypto.
Because those aren’t actual blockchain wallets like Electrum or Bitamp are.
Cryptocurrencies work by storing data on blockchains, with private keys telling the code who owns which assets and who can control them.
When you buy crypto on PayPal or Revolut, you’re actually just paying these companies to allocate you a value equal to the market price of Bitcoin. You have an account on their database, with absolutely no interaction at all with the actual networks or blockchains of these crypto.
Bitcoin is booming and holding still. Remember to store your Bitcoin in your own wallet and hodl on tight for this rollercoaster that has only just begun;)
Not your keys, not your coins. The eternal PSA from Bitamp!
Not your keys, not your coins. The eternal PSA from Bitamp!
Can an online crypto wallet be opened offline?
As long as it’s an actual wallet client, whereby you access with a private key that only you control, then yes. A private key simply unlocks a wallet for use, it doesn’t need you to transfer encrypted data over the internet (which you would be doing if using a username and password). I’d avoid any kind of crypto wallet that requires you to be online to access it.
As long as it’s an actual wallet client, whereby you access with a private key that only you control, then yes. A private key simply unlocks a wallet for use, it doesn’t need you to transfer encrypted data over the internet (which you would be doing if using a username and password). I’d avoid any kind of crypto wallet that requires you to be online to access it.
Why is my Bitcoin transaction not getting confirmed, and what can I do about it?
Nothing really, unless you marked the transaction as replace-by-fee( RBF) with your Electrum and you were the sender. Or if you’re the owner of inputs you can make a second transaction and use a Child Pays For Parent CPFP tx and cover fees with that.
Don’t worry though, Bitcoin mempool right now is manageable and it’ll clear off eventually.
Nothing really, unless you marked the transaction as replace-by-fee( RBF) with your Electrum and you were the sender. Or if you’re the owner of inputs you can make a second transaction and use a Child Pays For Parent CPFP tx and cover fees with that.
Don’t worry though, Bitcoin mempool right now is manageable and it’ll clear off eventually.
This is probably true but goverments have banned many things in past and if enought people want to use those things they would remove ban later and they can't do anything about it.
They can't really ban Bitcoin because there is no one place they can shut down, but they can try to forbid people to use it and we know that people like forbiden fruits very much.
They can't really ban Bitcoin because there is no one place they can shut down, but they can try to forbid people to use it and we know that people like forbiden fruits very much.
They don't know that. They do know that if they ban exchanges, many people won't have access and not everyone is technologically savvy enough to go P2P. They know at least businesses can be stopped from doing it.
Eventually, people learn to go underground and direct p2p, so yeah, futile for governments to even try but nevertheless, they do:)
Does someone need a bank account to open a Bitcoin wallet?
Nope. Bitcoin is one of the pure examples of “money for the unbanked or unbankable”. Meaning those with no bank accounts or those unable to be bank account holders (like refugees without ID cards or people who can’t even read or write) can all open Bitcoin wallets as easily as you or I can.
Isn’t that a great thing? If banks all die tomorrow, Bitcoin will not be affected.
Nope. Bitcoin is one of the pure examples of “money for the unbanked or unbankable”. Meaning those with no bank accounts or those unable to be bank account holders (like refugees without ID cards or people who can’t even read or write) can all open Bitcoin wallets as easily as you or I can.
Isn’t that a great thing? If banks all die tomorrow, Bitcoin will not be affected.
Why might a country want to ban Bitcoin?
Why would a country ban anything? To prevent it from subverting or displacing its own existing systems. In the case of Bitcoin, a country might feel threatened by Bitcoin because it would mean citizens and people moving off their banking and financial rails — onto networks they can’t monitor and can’t track.
Why would a country ban anything? To prevent it from subverting or displacing its own existing systems. In the case of Bitcoin, a country might feel threatened by Bitcoin because it would mean citizens and people moving off their banking and financial rails — onto networks they can’t monitor and can’t track.
This is probably true but goverments have banned many things in past and if enought people want to use those things they would remove ban later and they can't do anything about it.
They can't really ban Bitcoin because there is no one place they can shut down, but they can try to forbid people to use it and we know that people like forbiden fruits very much.
Why might a country want to ban Bitcoin?
Why would a country ban anything? To prevent it from subverting or displacing its own existing systems. In the case of Bitcoin, a country might feel threatened by Bitcoin because it would mean citizens and people moving off their banking and financial rails — onto networks they can’t monitor and can’t track.
Imagine citizens getting sick of their national fiat and moving on to Bitcoin. They’d wean themselves off the banks and failing fiat printers. Bad news for the government.
Thoughts? Comments?
Why would a country ban anything? To prevent it from subverting or displacing its own existing systems. In the case of Bitcoin, a country might feel threatened by Bitcoin because it would mean citizens and people moving off their banking and financial rails — onto networks they can’t monitor and can’t track.
Imagine citizens getting sick of their national fiat and moving on to Bitcoin. They’d wean themselves off the banks and failing fiat printers. Bad news for the government.
Thoughts? Comments?
Is it unsafe to use PayPal for bitcoin because you won’t have control of your private keys?
I agree that Paypal is probably the worst place for holding your bitcoin even worse than using exchanges, but people still use it a lot.
Maybe they are just lazy or they don't want to take any responsibility for holding their own wealth, and maybe most people are not yet ready for Bitcoin.
Sad, but it's probably true.
I think this is the painful reality. That most people aren't ready for Bitcoin, or ever want to be ready for it. And that's okay too. It's just I wonder how many people actually want Bitcoin but are unsuspectingly using PayPal and not realizing they have nothing but an IOU?
Is it unsafe to use PayPal for bitcoin because you won’t have control of your private keys?
I agree that Paypal is probably the worst place for holding your bitcoin even worse than using exchanges, but people still use it a lot.
Maybe they are just lazy or they don't want to take any responsibility for holding their own wealth, and maybe most people are not yet ready for Bitcoin.
Sad, but it's probably true.
I never used paypal for crypto nor have plan to use them in future since I don't like what their charges on USD transactions so maybe it will go the same, But if you don't like base on what you experience well maybe best not to used them. I don't think they are lazy but maybe they are new to technology and their devs are exploring more things about bitcoin. For now use bitamp or whatever wallet you have tried before and make sure you choose those wallet which give you a private key when you create a wallet for security.
Is it unsafe to use PayPal for bitcoin because you won’t have control of your private keys?
I agree that Paypal is probably the worst place for holding your bitcoin even worse than using exchanges, but people still use it a lot.
Maybe they are just lazy or they don't want to take any responsibility for holding their own wealth, and maybe most people are not yet ready for Bitcoin.
Sad, but it's probably true.
Is it unsafe to use PayPal for bitcoin because you won’t have control of your private keys?
Yeah, it’s always unsafe to use a wallet where you don’t control or own your funds. Which is what happens with PayPal. But here’s another problem. You don’t actually own any Bitcoin with paypal, you only own a number in an account. You can’t send the Bitcoin out, can’t withdraw it, can only sell it back to them.
It’s pretend Bitcoin, not actual Bitcoin.
Yeah, it’s always unsafe to use a wallet where you don’t control or own your funds. Which is what happens with PayPal. But here’s another problem. You don’t actually own any Bitcoin with paypal, you only own a number in an account. You can’t send the Bitcoin out, can’t withdraw it, can only sell it back to them.
It’s pretend Bitcoin, not actual Bitcoin.
Still it’s good to see a lot of Defi platforms just build front ends now and encourage people to use their own wallets like MetaMask.
Bitcoin-only wallets now are not being developed as much as I can see, so we’re happy Bitamp is still one of the few doing that:)
I use Metamask but I don't like it much and any wallet like that. As use extension in browsers in not my preference if I have options to choose.Bitcoin-only wallets now are not being developed as much as I can see, so we’re happy Bitamp is still one of the few doing that:)
I have weird idea, swap. Can Bitamp team consider to build up a swap feature (or sweep wallet) for bitcoin stores in a Legacy address to another address type, please. I know Bitamp gives three options with three types for bitcoin wallets.
What I suggested is for people who store bitcoin in a Legacy address but later want to move their bitcoin to a Bech32 address. They also don't want to manually move their bitcoin, just want convenience and being lazy. Click on swap or sweep wallet and finish.
What is the difference between many crypto wallets we see out there?
The major difference for us is that most consumer wallets now come in two types: non-custodial and custodial. And more and more now, wallets are being developed as apps where you actually do not even own the private key OR the private key can be accessed by others (the owners usually).
Still it’s good to see a lot of Defi platforms just build front ends now and encourage people to use their own wallets like MetaMask.
Bitcoin-only wallets now are not being developed as much as I can see, so we’re happy Bitamp is still one of the few doing that:)
The major difference for us is that most consumer wallets now come in two types: non-custodial and custodial. And more and more now, wallets are being developed as apps where you actually do not even own the private key OR the private key can be accessed by others (the owners usually).
Still it’s good to see a lot of Defi platforms just build front ends now and encourage people to use their own wallets like MetaMask.
Bitcoin-only wallets now are not being developed as much as I can see, so we’re happy Bitamp is still one of the few doing that:)
How do you run a Bitcoin node and what does it mean?
Just means they're running one of the computers helping to secure the network by verifying transactions. Even you can do it easily with only about $100 cost by buying a Raspberry Pi (it can even come preloaded). This is one simple guide that should get you up and running in no time!
Just means they're running one of the computers helping to secure the network by verifying transactions. Even you can do it easily with only about $100 cost by buying a Raspberry Pi (it can even come preloaded). This is one simple guide that should get you up and running in no time!
Question someone asked us: I sent a deposit to an address provided on a site but after I sent my Bitcoin, the address changed. Why's that and how do I see details of the transaction to the original address?
This is probably because every new deposit sent to the wallet will generate a new address for each new transaction. This is the recommended way to use your Bitcoin wallet, for privacy reasons, one address per use.
You can always look up the original tx ID on any blockchain explorer to see details of the tx (or you can look up the address of your wallet and see the outgoing tx).
This is probably because every new deposit sent to the wallet will generate a new address for each new transaction. This is the recommended way to use your Bitcoin wallet, for privacy reasons, one address per use.
You can always look up the original tx ID on any blockchain explorer to see details of the tx (or you can look up the address of your wallet and see the outgoing tx).
Given their cost, I don't see the point in buying a hardware wallet to store less than a few hundred dollars worth of crypto. However, that is merely my opinion, and I understand if someone disagrees.
I would agree, but sometimes people believe if they buy something and set their minds to it as a symbol of intent, it becomes easier to achieve the longer term goal. I know many people who bought a hardware wallet first before even buying their first crypto:)
Hot wallets, used often and for probably small amounts. I’d recommend Bitamp. Web based so really easy to use instantly and on any device. But you should try out other apps as well — just be wary of dust inputs that can inflate your fees.
You guys know any better options?
You guys know any better options?
The first and most obvious guideline is that you should never store large sums in a wallet that does not provide you with your private keys or a seed phrase. Bitamp is a non-custodial open source wallet, so it's an obvious pick. It offers traditional functionality with easy accessibility by any browser. This means it can be used by anyone who has no advanced technical knowledge of bitcoin softwares or blockchain architectures.
Thanks! We believe our wallet's pretty good and we trust in the security of the Bitcoin network BUT admittedly, many users aren't aware of good security practices or good online habits, and tend to compromise their web browsers.
The software and devices you use to access wallets MUST be clean:)
Jump to: