Breaking: Bitcoin drops below $5,00 as Bitfinex Tether (USDT) drama continues. Holy Smokes. What a whirlwind of a few hours it’s been for the cryptocurrency market. As Ethereum World News reported, iFinex, the operator of both Bitfinex Tether Limited (the firm behind USDT), had come under legal pressure from a key U.S. legal entity. For those who missed the memo, here’s a recap: 
A document unveiled by the New York Attorney General’s (NYAG) office on Thursday has revealed that iFinex, the company behind both Tether (USDT) and Bitcoin exchange Bitfinex, is being sued. Per a lawsuit issued by official Letitia James, iFinex Inc, which is the company behind the two aforementioned crypto startups, promoted the “issuance, distribution, exchange, advertisement, negotiation, purchase, investment advice, or sale of securities” in New York State, which is illegal without the proper licensing and documentation. The suit has also revealed that Bitfinex purportedly sent $850 million to a Panama-based company, failed to secure the funds later, and went on to raid almost $1 billion of Tether’s cash reserves to satisfy it’s customers.
As a result of this news, BTC fell immediately (and a lot of altcoins with it). Within 30 minutes of the news’ publishing, BTC dropped from $5,550 on Coinbase to a low of $4,950 — a collapse of just over 10% — as Crypto Twitter spread this harrowing pieces of news within minutes. Altcoins across the board followed suit, with USDT falling to $0.98 on a number of exchanges. But, now, some are coming to the conclusion that this isn’t the end of cryptocurrency per se, leading to a recovery in the Bitcoin price to $5,200.
BITFINEX RESPONDS, BUT TRADERS FLEE IN PANIC REGARDLESS
About an hour after this news hit the Wall Street Journal and other outlets, a Bitfinex staffer going by “Garbis” released a statement on the company’s official Reddit forum. The employee explained that Bitfinex’s “team is reviewing the documentation,” and a statement will be released on the matter in the coming hours. In spite of this response, which was deemed lackluster and meaningless by most, users are revealing that they are withdrawing all their capital from the (not so) popular crypto platform.
Eduardo, a Venezuelan Bitcoin enthusiast that works for Purse.io, revealed that while he isn’t selling his BTC, he is withdrawing “what little” he had off the platform. Many others in the community made similar remarks, posting images of their withdrawal requests — balances and addresses redacted of course — to show that they are now skeptical of Bitfinex’s dealings. It is unclear whether or not the exchange will be able to keep up with these withdrawal requests. If this continues, we may see a massive exodus.
BOTTOMLINE:
This just goes to show that it’s only a matter of “when”, not “if” exchanges will reveal some mishaps and people start to panic. You do not have these issues when you have a hardware wallet, and you can even keep your USDT on a KeepKey device, which I’ve been testing in their new unified beta platform. I strongly recommend visiting our “SHOP” page at the top to get one now directly from these companies. Just remember as Andreas Antonopolous said: “Not your keys, not your bitcoin”.
What do you think? Do you think Bitfinex has made a big mistake like this for the last time? Please let me know in the comments!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
-
Crypto VPN | 2 Best VPN’s To Use When Sending, Receiving, Or Exchanging Bitcoin
In this article, I am going to share with you why it’s best to use a VPN with all of your bitcoin related dealings with a crypto vpn. I recently had an experience where I was sending and receiving some bitcoin with a friend of mine and I was in a rush and I forgot to enable my VPN to process the transaction.
At first, I didn’t think too much of it, but then I received an email indicating that it detected me sending it from a different IP address. This was a blunt reminder that even when you aren’t conscious of it, all of your dealings on the internet are being watched and recorded by your ISP, and in some cases, even the wallet or exchange you are sending or withdrawing your coins from.
This is why using a VPN is not only important for your everyday internet browsing, but particularly when you are dealing with sending, receiving, or exchanging bitcoin or other cryptocurrencies. Before I get into the meat of the article, I just wanted to remind my readers that I recently wrote an e-book that details the 5 best ways to secure your cryptocurrency. This is an in-depth guide that goes into the best tips and tricks for managing your cryptocurrency and specifically the best practices on how to store and diversify your holdings. Click HERE to check it out, it’s free!
So let’s get right into what a VPN is, and why you need one! Let’s go!
What Is A VPN?
A VPN (or Virtual Private Network) is designed to obfuscate or block your current IP address, which includes your ISP and your current location from being tracked online. Why would I need this? Well, as you probably already know, the internet is an amazing place, but it surely isn’t private. Your ISP is watching your web pages, knows your location, and can even report what you are watching and doing to the authorities, if they so choose.
This is NOT ok, as your privacy is an unalienable right. There is no reason they need to know this information and should not be strong-armed into handing it over to the authorities for any reason. This is where a VPN comes in. VPN’s are not only used for every day internet browsing, but can also used for torrenting, streaming services (like Netflix and Hulu) and also when making any financial transactions, namely crypto transactions.
With a VPN, you can cloak your location, the website’s you access, any downloads or uploads you have engaged in, and much much more. This is ideal if you want privacy for whatever you decide to do online, and the best part is, most VPN providers don’t even log what you do, so if they are contacted by authorities, they can’t even hand over anything anyways.
Why Do I Need A VPN For Bitcoin Transactions?
As mentioned above, without a VPN, all of your interactions or actions you take online are recorded with your ISP and they log all your websites, and what you do on those websites. This means, that if they wanted to, they can see your passwords, watch your private information, and use it against you. This doesn’t mean they will, but take into consideration if they get hacked. There is nothing blocking a nefarious character from taking your personal information and using it against you.
When it comes to bitcoin and crypto transactions, privacy is the MOST important thing. Period.
Do I Need A VPN For Trading On Bitcoin Exchanges?
Yes. Most exchanges (especially U.S. exchanges like Coinbase, and Bittrex) are in bed with the government and the IRS, so they are tracking what you do, where you are, and can provide a lot of identifying information. If you consent to this when using an exchange, that’s on you, however, when you use a VPN, you can take your physical location layer out of the equation. Additionally, you may want to use services like Bitmex for leverage trading or an exchange like Bitfinex that does not allow U.S. IP addresses. This would be a work around for you to gain access to products and services that are not available in your jurisdiction.
Can I Pay For A VPN With Bitcoin Or Other Cryptocurrencies?
Yes. I recommend using either NordVPN or ExpressVPN, as I use both personally. They are not based in the U.S., so they are not subject to any of the regulations or over-reaching by our government, so that is a huge relief and provides peace of mind. You can click the link below to get 75% off Nord VPN and ExpressVPN below, and I believe they offer a free-trial as well and a 30-day money back guarantee!
**CLICK HERE TO BUY NORDVPN AT 75% OFF**
**CLICK HERE TO BUY EXPRESSVPN AT 75% OFF**
Additionally, you can pay in bitcoin or other cryptocurrencies when you sign up for either of these. To me, that’s a HUGE plus because it demonstrates the companies’ values and I always like to support organizations that promote using bitcoin and other crypto in every day commerce. I have a review video I did below that goes over these in a little more detail, but both are top-notch and trusted and used my millions of people for various uses. This is designed for people that value their privacy and anonymity. (Satoshi would be proud!)
Is There A Free VPN?
There is ONE that I have used in the past called Tunnel Bear, but it only allows up to 500MB per month for free. If you exceed that amount (which isn’t a lot), you will be required to upgrade and pay either a monthly or yearly fee. I used this as a starter VPN, and is the best free VPN I’ve personally used. You can use the link below to get signed up for free, and if you decide to upgrade, it will provide you 58% discount on your service.
**CLICK HERE TO DOWNLOAD TUNNELBEAR FOR FREE**
Crypto VPN: Conclusion
Overall, you absolutely need a VPN for all of your crypto-related dealings and the options for NordVPN and ExpressVPN also have free mobile apps, so you can make sure it’s enabled on your phone if you prefer to send/receive on a mobile bitcoin wallet as well, so there is no excuse to not use one.
Trust me when I say, no matter how much of a hurry I am in, I will never forget to enable it again, and it’s just as simple as a click away, so it’s very easy to use. On a side note and on the topic of mobile apps, If you are looking for new an interesting ways to earn free bitcoin (and other cryptocurrencies), you can download the LIFE INFO APP.
This app pays you in bitcoin rewards on purchases you are making anyways, and also gives you an instant discount on everything you buy. There is no reason NOT to do this, as there is no catch, and you save money. If you’re buying these items anyway, you may as well save money and earn bitcoin for free. I will leave an in-depth review of this HERE for you to check it out and will answer more of your questions, but I strongly recommend you check it out.
What do you think? Do you use a VPN for sending and receiving bitcoin? Let me know in the comments below!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
-
QuadrigaCX Fails to Find $195 Million in Missing Bitcoin & Other Altcoins, Canadian Court Approves Bankruptcy
QuadrigaCX fails, the troubled Canadian cryptocurrency exchange, has failed to locate millions in customers’ missing cryptocurrency assets since the company’s owner died suddenly in December of 2018. On Monday, Nova Scotia Supreme Court Judge Michael Wood ruled that Quadriga Fintech Solutions Corp, the holding company, can begin bankruptcy proceedings.
Approximately 115,000 customers are owed $195 million USD in cash and cryptocurrencies, including Bitcoin and Ethereum, following the death of Quadriga’s founder Gerald Cotten. The exchange says Cotton did not reveal to anyone in his organization the private keys that access the cryptocurrencies on his private wallet. To those who did not know the details of the founders death, he died in India following complications from Crohn’s disease.
Quadriga’s court-appointed auditor Ernst & Young issued an April 1 report, asserting that creditors may benefit from the bankruptcy proceedings with the potential sale of the company’s assets, including but not limited to Quadriga’s operating platform.
In March, Michael Wood granted the Canadian crypto exchange a 45-day extension to find more than $100 million in lost Bitcoin, Ethereum, Bitcoin Cash, Bitcoin SV and Bitcoin Gold.
The court also approved a freeze on accounts held by Cotten’s widow, Jennifer Robertson, and the Cotten estate, including Robertson’s trusts and businesses.
Robertson says that her husband’s death was “sudden and unexpected”, refuting conspiracy theories that Cotten is still alive and that his death was a ruse to escape financial troubles.
QuadrigaCX was believed to be Canada’s largest cryptocurrency exchange, but following the death of Cotten, Ernst & Young says the company’s cold storage wallets are empty.
The next hearing is scheduled for April 18 to address issues involving credit protection and third-party payments processors.
This just goes to show that leaving your private keys on an exchange is very risky business. Do yourself a favor and store them on a trusted hardware wallet that is under YOUR control. Click here to see the latest offers directly from Ledger for an entry level hardware wallet.
-
KeepKey Review: Is It Better Than Ledger? (2020)
In this article, I will give you a deep dive into the KeepKey wallet and provide you a review of my personal experience thus far with a keepkey review. I started using KeepKey about 3 years ago and boy has it come a long way. At first it was the simple bitcoin wallet that only supported about 6 coins, and was the easiest wallet to use at the time (including Trezor and Ledger). It’s selling edge was the physical wallet itself which is a nicer aluminum finish and clean and upscale look and significantly differed from the flimsy plastic Trezor and Ledger presented you out of the box.
As a result, it was priced as such, and many people would not pay more for a device that only supported 6 coins. In 2018, it started adding 3rd party wallet support, like MyEtherWallet and MyCrypto.com and ERC-20 tokens. In this review, I will go over what has changed since then and ultimately if this wallet is the best choice for you or not.
I also recommend you download my free e-book that I just wrote that gives you some expert tips on how to secure your cryptocurrency and ensure you are protected for the next bull run. You can click the link above to gain access now, and it will only help you on this crypto journey. Addtionally, I recently wrote a detailed review on the new ShapeShift platform, that will have elements of it woven into this review as they both utilize the KeepKey wallet to operate. Let’s get started!
CLICK HERE TO BUY KEEPKEY FROM SHAPESHIFT’S OFFICIAL SITE DIRECTLY
KEEPKEY REVIEW: WHAT COMES IN THE KEEPKEY BOX?
First off, they have a really solid presentation. The box is a quality box and is sealed by an anti-tamper sticker to indicate if the box has attempted misuse or access to it. Secondly, it comes with the following items in the rectangular apple-esque box:
-Nylon Woven USB to Micro USB cable
-2 Recovery Seed Cards
-Getting Started Guide
The device itself is rectangular and only has one singular button on the top right used for signing and authorizing transactions. This is why it can be defined as the simple bitcoin wallet and is mechanical in design. Overall, this is a non-nonsense wallet that is made up of solid, sturdy construction and is physically larger than the Ledger and Trezor wallets.
CLICK HERE TO BUY KEEPKEY FROM SHAPESHIFT’S OFFICIAL SITE DIRECTLY
KEEPKEY REVIEW: WHAT COINS ARE SUPPORTED?
Natively, this wallet in the current beta form supports over 40 assets with more on the way! Here is a current list of assets that are supported right now. Now let’s get into the nitty-gritty. For years, KeepKey only supported: Bitcoin, Litecoin, Ethereum, Namecoin, Dogecoin, and Dash. For a hardware wallet that needs to compete in this market place, that needed a serious upgrade.
Luckily, they have been making some AMAZING changes and not only added a ton of ERC-20 Support, but more importantly, they are revamping their entire platform to have one fluid, seamless application that integrates all of their core services (See my previous post for details on this). This is extremely powerful, and a decision that I believe will catapult them ahead of the competition. They are currently in a closed beta, and it is expected that they will be releasing this later in 2019. Stay tuned for news on this.
Some of the notable coins that have been added are:
-DigixDAO (DGD)
-Binance Coin (BNB)
-Dai (DAI)
-Maker (MKR)
-TrueUSD (TUSD)
CLICK HERE TO BUY KEEPKEY FROM SHAPESHIFT’S OFFICIAL SITE DIRECTLY
KEEPKEY REVIEW: HOW TO SETUP THE DEVICE
This information will be outdated soon, but I will leave a link to the current setup and initialization of the device as of June 2019 for most people here. I am more interested in talking about my experience with their new unified platform that will be released to the public shortly. Essentially, once you take the KeepKey out of the box and plug in the USB, it will prompt you to download the firmware updater and initialization steps once you login to your account. Currently, this is done on beta.shapeshift.com.
Once you have updated the firmware by plugging it in and holding down the single mechanical button as you disconnect and re-connect, it will process the update for you very quickly, usually within about 30 seconds. From here it will connect your KeepKey and there will be an animation in the top right of the dashboard letting you know it’s current status and then prompt you for the pin that is randomized every time it’s plugged in to ensure you have proper access to the device.
Once you’re validated, you can trade, view your accounts, and send/receive from your existing accounts and it’s a seamless process that will prompt for your PIN again to make any changes. I will leave a photo below for you to see the dashboard layout and it is very clean.
CLICK HERE TO BUY KEEPKEY FROM SHAPESHIFT’S OFFICIAL SITE DIRECTLY
KEEPKEY REVIEW: SECURITY
KeepKey has a true random number generator (TRNG) for it’s PIN interface for extra physical security. In addition to offline storage, KeepKey’s PIN code and number randomization makes sure that
1) Your wallet is secure from physical theft.
2) That a hacker couldn’t steal bitcoins from your wallet with malware.
KeepKey is an HD wallet, meaning your entire wallet can be backed up with the 12 words generated on setup. 12 words is the default setting, although KeepKey supports seed lengths of 18 and 24.
The seed is generated using entropy from both the device itself and the computer used for setup. The seed is generated offline on the KeepKey and displayed on the device’s screen. The device’s offline screen makes sure the seed is never displayed on an internet-connected device.
You can recover your wallet using the backup seed if your device is lost, stolen, or damaged. Recovery can be done in this new beta platform, but it has yet to be released on the current version. Make sure to keep multiple backups of your seed and use a metal recovery seed backup for extra protection.
The wallet’s screen allows you to sign and confirm the transaction on the device itself, so you can verify the address matches when sending on the web app and the device to prevent unauthorized bait and switches, but does not prevent phishing attacks.
CLICK HERE TO BUY KEEPKEY FROM SHAPESHIFT’S OFFICIAL SITE DIRECTLY
KEEPKEY AND SHAPESHIFT: USER EXPERIENCE (UX)
As you can see in the interface, besides the assets list on the left, most people like to trade within the app. All this is done within the app, so your private keys are never exposed online or to a 3rd party, which again, makes this new platform EXTREMELY compelling.
Additionally, unlike most exchanges you do not need pre-designated trading pairs that are usually defaulted to BTC. This means you can trade from altcoin to altcoin without having to trade back into BTC first, which will save you a ton on trading fees.
You can also buy crypto directly in the app via Wyre and can do a bank transfer that takes only 1-3 days and with only minimal fees. This is a huge advantage over Binance or other exchanges that charge exorbitant fees to have it done via a credit card and pay a lot more for that instant gratification. Again, when you do this, the private keys will go directly on your KeepKey so they are never exposed to the internet , even for a second.
Finally, here is a glimpse of the assets list. At the time of this screenshot, I only had 2 assets for testing and I haven’t tested this with bitcoin directly and dealt with DOGE and SNT at the time. I have since distributed that between about 9 different assets and have had a good experience with seamless trades that all end up on my hardware wallet, instantly after signing and authorizing a trade.
CLICK HERE TO BUY KEEPKEY FROM SHAPESHIFT’S OFFICIAL SITE DIRECTLY
KEEPKEY REVIEW – CONCLUSION
In the end, I still would take the KeepKey over the Ledger if I had to choose. The Ledger Nano S only holds 3 or 4 apps at the same time, and if you plan to expand or add more, you will have to remove and uninstall what you have to make room. KeepKey does not have this storage issue.
As mentioned above, with KeepKey will not give you this issue and you can trade assets very seamlessly and without the need to give up your private keys over top an exchange. This is a HUGE advantage and not one that any other hardware wallet can compete with. Having a non-custodial wallet is key and having one that is designed to never expose the private keys is even better.
The UX has been greatly improved and you can actually initiate a trade, sign the transaction on the device, and then unplug and off you go. You do not need to wait for the trade to take place, which is super convenient. Right now it costs $79 and is only 20 bucks more than the Ledger. It feels like it should be worth twice that since the quality you get is superior. Honestly, if you asked me which wallet should I choose a year ago, and is KeepKey is better than Ledger?
I would’ve said “No”. But, this new user interface and overall experience managing your assets all in one place and one screen, and not needing to install and uninstall several applications is unbeatable. Using their beta and testing their new platform has been a great experience and one that I would recommend to my closest friends and family at this point. Even if you are brand new and don’t have much experience. KeepKey is the best choice for a hardware wallet right now in 2019.
CLICK HERE TO BUY KEEPKEY FROM SHAPESHIFT’S OFFICIAL SITE DIRECTLY
***Leave a comment below and I will message you a coupon for 50% off for a limited time only!***
What do you think? Which hardware wallet is your favorite and why? Sound off in the comments below!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
