Crypto Credit Cards

The cryptocurrency has taken the world by storm, as it has finally shaded its fringe idea reputation and is now among the most hotly sought-after commodities in the world. Due to the industry’s wild successes this year, which has seen the industry multiply over 10 times in value this year, people are trooping into the industry in their millions seeking to be part of this gold rush.

And although the ways of acquiring cryptocurrencies has become exceptionally simpler over the years with most exchanges now accepting credit card payments, there are a significant section of investors who don’t wish to pay the astronomical amounts cryptocurrencies such as Bitcoin are currently priced at. This naturally sends these groups of investors into the only other way of acquiring cryptocurrencies which is mining. And true to its rise, mining some of the more valuable cryptocurrencies is become more and more out of the reach private individuals, due to their capital and energy intensive nature.

But like every other obstacles there are solutions that have been made to circumvent them. Investor’s and cryptocurrency enthusiasts around the world now use what is known as cloud mining in order to still participate in the mining of their desired cryptocurrencies without having to make investments in the hundreds of thousands of dollars to set up industrial  scale mining operations. Although there are a lot of cloud mining operations that are labeled as Ponzi schemes, but the industry is rapidly maturing and has some reputable and innovative ones like Miner Gate which seeks to take the cloud mining to new heights. Some of the great benefits that cloud mining offers the user include:

Simultaneous Mining

Most people who take on the mining industry by themselves do so by concentrating on a single cryptocurrency at a time to maximize the usability of their computing power (also known s hashing power). This is quite limiting as cloud mining operations offer the user the chance to maximize the use of their hashing power by mining for several cryptocurrencies at the same time which is also beneficial as far as spreading the miner’s risks are concerned.

Smart Mining Operations

To take this great innovation to another level, cloud mining service providers such as Miner Gate have another cool feature up their sleeve where by the users’ mining rig automatically focuses on mining the cryptocurrency with the most value among the multiple mining options offered. This is done by calculating the value of the cryptocurrency against the power needed to mine it. Users are of course not forced to use this feature as they can switch it off at any time of their choosing.

Small Scale Profitability

Cryptocurrency mining operations especially that of Bitcoin have the reputation of being too expensive and often small scale mining operations tend to make heavy losses as the cost of maintaining the mine is significantly higher than the reward obtained at the end of the day. And this is where Cloud Mining pools work their magic for potential miners, as they allow multiple small scale mining operations to pool their resources and mine as a single entity. Any reward gotten at the end of the day is distributed among the participating miners according to the amount of hashing power they contributed to the operation.


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Why Bitcoin Is Shaking Up Global Politics

Money equals power all over the world, even if it comes in different currencies. The U.S. stock market doesn’t just help people to gain and lose fortunes domestically, it also impacts forex and other stock exchanges. Bitcoin is different. It’s wholly unique in that there isn’t a steep learning curve. In fact, a student at George Washington University Online is just as likely, and perhaps maybe a little more, than a broker to be able to explain the concept of Bitcoin.

It’s a cryptocurrency that was made for computer users to be able to create their own little world. Payments made with Bitcoin are all but untraceable, which isn’t good for world governments. If they can’t get their hands on the source of each bitcoin, how will they be able to tax it?

Bitcoin and Dark Web

There’s a market for everything, including illegal activities. Drugs and even murder-for-hire are said to be obtainable online via the Dark Web. No government likes the idea of people being able to go online and pay for illegal products and services with no fear of reprisal. Entire societies have fallen by the proliferation of such activities. While stock market exchanges are made out in the open, the Dark Web offers insider trading tips at a premium. The sad part is that many of these kinds of activities are paid with bitcoins.

Taxing Online Transactions

Say that you bought 100 bitcoins two years ago and you just remembered that you had them. Today, you’d be a millionaire and the government is going to want their cut. This is where legislature gets tricky as Bitcoin was created on the web and none of its users want to be tracked or monitored in any way. Any money that you make is subject to tax. On the other hand, how is the government going to be able to tax transactions that can’t even be tracked? This is why countries like North Korea considered doing away with Bitcoin and other cryptocurrencies altogether. Bitcoin is also popular with George Washington University students because it can be used to pay for all manner of things.

When you want to cash out your stocks, you are responsible for reporting the transaction when you file taxes. It appears the U.S. government wants the same rules to apply to Bitcoin transactions.

Tracing Bitcoin Purchases and Sales

If you purchase Bitcoin rather than mine it, you need to have a source of funding. Most people just use their debit or credit cards to buy bitcoins and then keep the coins stored in a secure e-wallet. Exchanging bitcoins for cash can be harder. Unlike stocks, bitcoins aren’t really backed by hard currency. Instead, you have to find someone who believes that they are valuable enough to trade for cash and you are going to pay for that service.

Bitcoin doesn’t operate like the stock market, but it can get just as huge, if not bigger, as long as the government allows it. With that said, you shouldn’t invest in Bitcoin if you don’t know how it works. The good news is that you need far less formal trading experience to become a bitcoin miner than a stock trader.

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How To Utilize Cryptocurrency In Your Business


Cryptocurrency, quite simply, is changing the financial face of businesses and even individuals. It is the revolution in the way we perform transactions, invest and raise capital. It is replacing the need for physical money, and in some cases, it is replacing the need for banks and high-interest loans. Therefore, as more and more of us turn digital, what does this mean for the financial future in the world of business? Below we delve into the world of cryptocurrency.

Blockchain & Bitcoin

The rise of cryptocurrency has allowed new, innovative internet technology known as ‘Blockchain’ to develop. This breakthrough technology was originally created for bitcoin transactions, as it cleverly lets digital information be transferred and distributed, but not copied. It means that when businesses and individuals trade using bitcoins, they can use the digital Blockchain virtual currency exchange. The database is a public ledger which has no location and isn’t stored in one place. Therefore, it is easily accessed by the public, and a hacker cannot corrupt the files as millions of computers are hosting it. Bitcoin, on the other hand, is a digital cryptocurrency which can be used to pay for items electronically through a peer-to-peer network.

The Advantages

Cryptocurrency may be the newest digital financial trend but why are more businesses turning to this method?

  • Investment Opportunities: When you are looking to expand and grow your business, bitcoins pose the perfect investment opportunities for fellow startups and established companies. Bitcoin is often referred to as ‘digital gold,’ which means that the value has steadily risen in recent years. The total value of all bitcoin ranges into billions, and at the end of April 2017, the price per bitcoin was a record high of $1,343.
  • No Banks: As mentioned above, bitcoin is a peer-to-peer network, which means that any transactions aren’t processed through banks. It allows payments to be processed much quicker and in one currency. It means for your business that you can raise capital quicker and cheaper and it cuts out the drawn-out process of visiting banks for loans.
  • Anonymous Transactions: Bitcoins are stored in a digital wallet, and when you trade using your wallet, all that is revealed to the vendor is your wallet ID. This protects your identity, your business identity, and the vendor’s identity.
  • International Payments: As it is one centralized currency, bitcoin means you don’t have to worry about exchange rates when you are trading and buying Bitcoins feature no credit card fees, and they aren’t tied to any current regulations. You also don’t need to wait for payments as they are instant.
  • Easy To Use: Unlike having to visit a bank to transfer money, with using the digital wallet, you can transfer easily using your computer or an app on your device. There are even complex puzzles you can complete to “mine” bitcoins which are growing in popularity. On average, every 10 minutes, the winner of the puzzle is awarded5 bitcoins.

The Downside

As with every piece of technology, cryptocurrency does come with its fair share of downsides.

  • No Regulations: As mentioned, currently bitcoins and other forms of cryptocurrency aren’t imposed by regulations within countries. It means that the threat of fraud and price manipulation is significantly higher than with traditional currency. Without regulations, it has also meant that investors are using the money they don’t possess to gamble on bitcoins. Financial investors have called upon governments to impose regulations, but the absence is a large reason why investors turn to cryptocurrency. However, there are governments across the globe considering regulating their countries bitcoin markets.
  • Cybersecurity: Unfortunately, using a digital wallet means you aren’t only not insured by FDIC, but hackers and cyber threats can be present. The cryptocurrency market is hosting on a vast number of computers, which means there isn’t one central location where you can use anti-virus and anti-malware protection.  
  • Anonymity: While keeping your identity private can be an advantage, cryptocurrency has become the chosen transaction method for those using it for illicit purchases, such as buying drugs online. The anonymity means transactions cannot be traced back to the individual, which in future police cases, may pose an important issue.
  • Uncertain Future: Cryptocurrency may be highly popular at this However, no one can be sure whether it will rise in popularity or it will crash and burn. It means that investment businesses choose may fall foul and lose valuable money. On the other hand, it also has the scope to become the currency of choice in years to come.

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Telegram Founder: Crypto Mining Malware Not An App Flaw



There was a report by  that the attackers had discovered an exposed backdoor in Telegram Messenger, this vulnerability helped the attackers unknown to the owners turn computers into cryptocurrency miners.

These clandestine crypto mining operations had been going on since March 2017 reported Kaspersky Labs, the company that discovered and exposed the cyber attacks. Kaspersky also said a zero-day vulnerability in the Telegram messenger desktop app gave the attackers the ability to create and spread a never before seen the type of malware that could create a backdoor Trojan and also mine cryptocurrency.


A Kaspersky lab analyst said they had found quite a number of possible actions of the zero-day exploitation which asides from being spyware and malware, could also send unknown and unseen software for mining cryptocurrency, and that infections like that had become a global phenomenon.

Here is a little insight into the operation of the Telegram vulnerability; there is a way the Telegram Windows client deals with the RLO (right-to-left override) Unicode character (U+202E), in that process lays the vulnerability. However, that RLO Unicode Character is how languages are written from right to left (like Hebrew or Arabic) are coded. Kaspersky’s report states that a hidden RLO Unicode Character contained in the file name that flipped how the characters were ordered, thereby giving the file a new name was how the malware creators got access to computers. Like in this example, an attacker names a file “IMG_high_re*U+202E*gnp.js” and sends to someone using the Telegram messenger, the file seen at the User’s end will be “IMG_high_resj.png” (notice how a flip has happened to the file format), the user then clicks on the file thinking it is a picture file, then a JavaScript file containing the malware would be secretly downloaded.

                                                 Founder of Telegram


However, the founder of the Telegram application did not waste time in deemphasizing the allegations. He is of the opinion that antivirus companies always do the most at stretching the severity of their results, just to excite the public, and as such, should not be taken seriously. He also rebuffed Kaspersky’s claim by explaining that what they uncovered was nothing near a vulnerability of the Telegram messaging app, and also that there was no way cybercriminals could gain access to users’ computers without the users opening something malicious. He further assured Telegram users that they were safe and had always been safe.

According to Kaspersky, Fantomcoin, Monero, Zcash and other cryptocurrencies were acquired, and according to the evidence they had, Russians were behind the malware, and also that it could be used as a backdoor for hackers to gain access and silent control of users’ computers. Records of a Telegram local cache which most likely was stolen from victims was found in the process of doing their analysis of malicious servers.

One sure way to guard against such attacks is to avoid downloading and opening suspicious files from untrusted and unknown sources, as that suspicious file could be a portal for attacks.

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Arizona Law to Delineate ICOs and Securities


The world might be deliberating prohibitions and regulations on crypto activity, but in Arizona, they have embraced it so wholeheartedly that public records show that there has been a hike in the number of blockchain bills in the state’s legislature.

The state’s Senate has already passed a bill that approves its inhabitants to be able to pay their taxes in cryptocurrency. This new bill didn’t just pass all the stages in Senate as smoothly as one would believe. Arizona’s Senate minority leader Steve Farley was of the opinion that the volatility of the bitcoin might be a problem when it relates to tax payments. His fears were somewhat allayed when Arizona’s Department of Revenue confirmed that they would have only 24 hours to change the bitcoin payments into dollars.

The bill has already gone on to the state’s House of Representatives. If it is successfully passed, the state could soon start collecting bitcoin as an accepted form of tax payment.

Jeff Weninger, a Republican member of the Arizona House of Representatives (who was also very instrumental in the passing of the first bill) introduced two new different means focused on blockchain – one of which would start the process for an administrative structure for initial coin offering (ICOs) implemented in the state.

It should be noted that two new bills brought up by the representative comprise of words like “blockchain”, “virtual coin”, “virtual coin offering” and they are potential terms that might be added to the Arizona government’s catalog of definitions.

The virtual coin is defined in the first bill as a medium of exchange that can be traded digitally. A virtual coin has virtual value and can be used to store value.

The second bill tweaks the provisions of the Arizona Revised Statutes that pertain data created and stored by blockchain. The bill is in relation to the one that legitimized blockchain signatures and smart contracts implemented last year. This bill makes digital signatures have the same enforceability as written signatures. Arizona’s law now directs that smart contracts are to be also recognized and enforced.

The Arizona Electronic Transactions Act (AETA) provides that virtual signatures areas enforceable as written signatures. HB 2417 stipulates that signatures, e-records, as well as smart contracts — made through blockchain and entrenched by UCC Articles 2, 2A, and 7 — are recognized as legal e-signatures under the appropriate Arizona Act.

Using the “killing two birds with one stone” analogy, the legislature arm of the Arizona government has given a very comprehensive definition of cryptocurrencies and has ensured a solid foundation for contracts which are implemented using them. This means it’s now easier for people to meddle in the cryptocurrency world while ensuring they can do business with it.

It is worth to mention that the Arizona government perpetually sets up processes that strengthen the harnessing of the blockchain technology’s features.

Weninger is of the belief that cryptocurrency payments posses a multitude of merits which include the ease at which it can be used and the convenience it has.


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How Is Bitcoin Marketing Itself

As a result of the Greek economic downturn and financial crisis as a whole, Bitcoin found itself at the centre of the news debate. Due to its natural characteristics, its decentralised platform, and ultimately its fascinating make-up due to the blockchain technology on which it is based, Bitcoin offers an exciting new wealth of opportunities. With the development of the bitcoin gambling casino which has introduced provably fair gaming to the online world and implementation by brands such as Subway and Steam, the cryptocurrency is continuing to grow. Despite numerous restrictions being placed on Bitcoin, the debate around its potential is continuing, and in turn the cryptocurrency has begun to market itself. Here, we’re taking a look at how.

The Characteristics Of Bitcoin

There are numerous exciting opportunities which Bitcoin provides, and a lot of these come from the characteristics behind the blockchain technology which makes up the cryptocurrency. Firstly, the decentralised element to the Bitcoin offers numerous advantages which is actually leading to disrupt numerous financial institutions. Despite its unpredictability and its evolution under the auspices of a nebulous entity, it is this challenging nature which is actually attracting numerous investors. The cryptocurrency is almost completely anonymous, and as such, many users feel protected when making purchases.

The blockchain technology itself is also exceptionally secure, with fraud being somewhat deterred by the make-up of the cryptocurrency. All of these characteristics have gradually marketed themselves, and with the boom in investment, more individuals are turning to this cryptocurrency as an alternative payment method.

Price Performance

A major indicator of the cryptocurrency’s growth is its price performance, and with the huge amount of investment going into the currency in recent months, it’s unsurprising to see that the price has boomed. Despite many critics believing that the currency remains unstable, the Bitcoin is marketing itself as a well-performing investment opportunity for many. While many are concerned about the regulations which are beginning to be imposed, these will only stabilise the cryptocurrency, further opening opportunities for use.


Fear By Financial Institutions

One of the major marketing aspects for Bitcoin is the fear it has imposed in some traditional financial institutions, which may now have to evolve their techniques in order to keep up with this ever-growing technology. While traditional financial institutions may see this as a negative, consumers and individuals will see this as a positive, as banks will now have to adapt their methods in order to keep funds as secure, yet accessible, as possible. Some financial institutions, such as Barclays, have already started to adopt cryptocurrency and blockchain technology, and have begun discussions with regulators on how to bring this technology into play more efficiently. With big brands such as these, alongside the likes of Subway, Microsoft, PlayStation and more embracing this technology, Bitcoin is being marketed in more ways than ever before.

While many associate Bitcoin with having an image issue, in modern times, this is very much the opposite. With increasing regulations being implemented, Bitcoin is only going to stabilise more efficiently, and as a result grow with more investments. Since the boom, Bitcoin’s marketing has been handled by the news and simply by word-of-mouth.

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