Dilli wala Baniya

To store any cryptocurrency, we need a wallet to store them. We can take it as an analogy of physical wallet used to store our fiat currency. When we buy any crypto coin from any exchange, they provide us with a particular wallet to store those coins within an exchange itself. But keeping crypto coins in an exchange wallet is totally a risk as any exchange works like a third-party service provider upon which we trust just like banks in the centralised system. In the 21st century, hacking any digital exchange is not that difficult task. As exchanges have our private keys, the risk of losing all coins increases whenever there is any cyber attack on exchange. So, it is always advisable to store your coins in a wallet whose private keys are with you. 

There are many types of wallets are present in the market but today we will talk about My Ether Wallet (MEW). As its name suggests, it stores only Ether and ECR-20 based tokens i.e. new crypto coins based on ethereum blockchain. And now a days most of the tokens are launching on ethereum platform. So this address is also helpful in taking part in airdrops of new coins. This is a type of paper wallet and available for free of cost. Before moving further, we should know about some terms :

1. Public key :-   It's a public address used to receive funds and can be shared with anyone.

2. Private Key:- It's like a PIN of ur bank account and works like a digital signature, It should be kept private all time.

3. Keystore File:- Its an encrypted version of your private keys. This makes your keys more secure.

Now, let's start the procedure of creating a MEW address.

Step 1. Go to My Ether Wallet

There are many phishing sites are active on the internet which can easily fraud you. So, make sure to check and bookmark the original site as soon as you land on it. Click here to visit.

Step 2. Enter a strong password 

Enter a really strong and random password for accessing your wallet. Write the password somewhere safe. Then click on "create New Wallet".
  

Step 3. Save your Keystore File

A new screen will open, here you have to download your "keystore File". which will be used every time whenever you want to access your wallet. It is as important as your password. Without this, you cant access your wallet. It is also helpful in restoring your MEW wallet.

Step 4. Save your private key. 

As I already discussed that private key is like PIN no of your bank account. It should be kept private and not be shared with anyone. You can encrypt the private key for more security.



You are almost done with the set-up

Step 5. Unlock your wallet with keystore file

If you have reached this step, your wallet has been created. Now you have to choose among many options to access your wallet. If you are a beginner, choose "Keystore File(UTC/JSON)". And then upload your keystore file and type your password to unlock your password for the first time.

Final Step:- Ensure to backup everything!

  10,000 bitcoins = 80 million USD = 550 Crores INR = 69 million Euros 

1. ELECTRONEUM

For grabbing Tron for free, stepwise details are given below.



* Visit this blog for more info on MEW

• My Ether Wallet (MEW): Full Guide

Comment down your queries. 

Many of us have an idea about cryptocurrencies. There is a boom in the no. of investors showing interest in this field in last few months. Many of us heard about bitcoin from daily news channels. Now a days , everyone is talking about bitcoin and cryptocurrencies and there is big reason behind this , and that is none other than MONEY. Undoubtedly, cryptocurrencies has the power to make your money 2x , 3x even 10x and 100x in very short time. 

Many of us are fascinated about this and wanted to earn the same as others. But due to lack of exact information and support , we just let the idea of investing go. So , if you are the one , who is willing to invest in cryptocurrencies and you are an indian , you are at the right place. I'll will give you detailed step wise guide to invest in cryptocurrencies.

PS:- There are two rules to invest in cryptocurrencies.

       Rule no 1:- Invest that amount of money which u can afford to loose

       Rule no 2:- Never forget the rule no 1

There are two ways to invest in cryptocurrencies ,

    1. Buy a coin from any exchange

    2. Mining

In this Blog , we discuss about only 1st point. So , the first question is What is an Exchange ?

In simple words , exchange is a website , from where you can buy cryptocurrencies. Some of the best websites are 

Koinex "was" one of the best indian exchange. I used was because , I guess they are now lacking in customer support and their competitors are doing very well. But they still have the largest BTC volume.

They are currently trading in more than 22 cryptocurrencies. They also have Crypto - Crypto pairs for trading , but there is not much volume of coins in those pairs. I suggest newbies to go for INR pairs only. 

They have best in class Android APP , which makes the experience of trading very smooth. But there app requires more often login details , which is quite irritating but still its OK as they have our money.

If you want to go for koinex , link is given below, or you can click on the above heading 

https://koinex.in/

*Rating :- 3/5

Coindelta has some of the best features among all the indian exchanges , such as their lastest  "One Page Market Screen" This advance one page market screen allows the the user to have a look on Bids , Coin price Graph , His/Her Orders , News Feed and can buy/sell his/her coins. This feature definitely gives the CD an advantage over other exchanges. 

They have very active customer support for their users. And there is also very minimal fee for trading on cryptocurrencies. They are trading in more than 22 cryptocurrencies in INR and BTC pairs. But they dont have any APP right now , may be they have one very soon. If you want to go for Coindelta , Link is given below or you can click on the above heading

https://coindelta.com/market?active=BTC-INR 

*Rating :- 4/5

They have the second most volume of BTC after koinex. Their Web version may be quiet irritating for trading but they got the best Android APP for trading , you have all with their app. They have most no of coins for trading. They are currently trading in more than 35 coins with INR pairs. 

The best thing about them , they often organizing crowd sale for cryptocurrencies and various competitions regarding trading and winner got respectable amount of specific crypto. I mean , who organizes crowd sale for crypto..BITBNS does..!!

They also have active Customer support for their users. Once You have landed on their site , you will be their customer forever. If you want to go for BITBNS , which i personally prefer , Link is given below and you can click on the above heading.

*Rating :- 4/5

And like most of the websites , you have to make the account on particular website. As it's a matter of money , you have to Complete KYC (Know Your Customer). You have to upload your

    1. Aadhar card

    2. Pan Card and

    3. Bank a/c Statement

Opening an account is not that tough task , if still you got any query you can comment down below , you will be guided further. After Opening an account , your half way is already done, Now you just have to buy the cryptocurrencies. 

* Ratings are as per my opinion , they can vary person to person.

giving it name brand status in the Crypto world. However, if

the goal of a Cryptocurrency is to be fast, cheap and secure,

Bitcoin may not deserve all of the hype that it receives.

When Bitcoin was first introduced, it accomplished all three

of those objectives, however that is no longer the case. Like

all Cryptocurrencies, Bitcoin is based on Blockchain

technology, something I will explain in further detail later. For

now, all you need to know is that a block contains

transaction data, and it takes on average ten

minutes for a block to be processed. Like any digital file, a

block can only contain so much data, similar to a Word

document. Now that the popularity of Bitcoin has exploded,

transaction volume has skyrocketed beyond what the

Bitcoin Blockchain can handle.

This means that there is a constant backlog of transactions

waiting to be processed, leading to very slow transaction

speeds. If you want to have your transaction processed

faster, then you are able to essentially pay a higher fee to

skip the line. So as of now, Bitcoin has excessively high

transaction fees and painfully slow transaction speeds.

However it’s not all bad news. Bitcoin remains an extremely

secure Blockchain, arguably the most secure that there is.

Processing Bitcoin transactions remains computationally

intensive by design, which in short makes it more difficult for

hackers to maliciously alter transaction data. For transferring

large sums of money, Bitcoin remains an excellent option.

Security is the most important aspect of a high value

transaction, not fees or transaction speed.

However this does not come without consequence. Fastertransaction speeds are great from a retail perspective,however it comes at the expense of security. Bitcoin Cash isinherently less secure than traditional Bitcoin, making it apreferred choice for lower value transactions like a coffee.

Ethereum is a platform that was created for smart contracts
and decentralized apps. To explain smart contracts, think of
a simple contract like a trust as an example. Imagine you are
15 years old, and your wealthy grandparents pass away,
leaving you a large inheritance. Because you are so young,
your grandparents do not think you can be trusted with the
full amount right away, so they give it to a trustee to slowly
transfer you the funds over time. A contract might look like
this: $1,000,000 is held by a trustee, and every year on
January 1st, $100,000 is transferred to your account, until
you turn 18, when the remainder of the funds are given to
you at once. With a smart contract, the funds can essentially
be uploaded into the contract using digital currency, and be
programmed to transfer a set amount to your digital wallet
every year on January 1st.


Ethereum is the platform that smart contracts are built on,
and Ether is the digital currency that moves around on the
platform. In my example above, the $100,000 that is
transferred to the 15 year old is not transferred in USD or
CAD, it is transferred in Ether (ETH).


As mentioned, the Ethereum platform is also built for
decentralized apps (dapps). Forget the decentralized aspect
for a second, and just think of building applications for
something like the Apple app store. Using apps requires
computing power, which on the Ethereum platform is called
‘gas’. Gas can be purchased using Ether, which gives app
developers an incentive to make their applications very
efficient, thus requiring less gas and being cheaper to run. I
won’t go into more detail on that now, because
understanding the difference between Ether and the
Ethereum platform is really the key point here.


Whenever you see an Initial Coin Offering, the majority of the
time these are built on the Ethereum platform. So when I
referenced previously that there are thousands of
Cryptocurrencies, most of these are actually powered by
Ethereum, even if the coins have their own name and
symbol. So the best way to think of Ethereum is as
somewhat of an operating system like iOS, where you can
build apps on top of the platform.


Ether also has the benefit of being what I like to think of as a
Crypto reserve currency. The vast majority of coins cannot
actually be purchased with traditional Fiat currencies like
USD or CAD, you instead have to first buy BTC or ETH, and
then exchange it for the coin of your choosing. ETH is
currently my preference for buying altcoins, as the
transaction speeds are faster than BTC, and the fees
involved are far less.

4. RIPPLE (XRP)