Sunday, July 3, 2022

How To Find Out If You Have Any Bitcoins

Is It Safe To Give Out My Bitcoin Cash Address

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You can safely give out your Bitcoin Cash address to friends, family, and acquaintances. No one can steal your bitcoin cash unless they have both your address and the private key to it. However, you should know that, since the Bitcoin Cash network is publicly viewable, anyone who knows your Bitcoin Cash address can easily find out exactly how much bitcoin cash you have at that address by simply pasting the address into a Bitcoin Cash block explorer like this one. They can also see every transaction you’ve ever made using that address. If you don’t want people to see this information, you’ll need to use a fresh Bitcoin Cash address. Luckily, that’s easy to do! The Wallet, for example, allows you to create an unlimited number of new Bitcoin Cash addresses with the touch a button.

Read more: Learn how to accept bitcoin cash as a business – online and in-store – with our Bitcoin Cash Merchant Solutions.

Decide On A Payment Option

After choosing an exchange, you have to fund your account before you can begin investing in Bitcoin. Depending on the exchange, you can fund your account through bank transfers from a checking or savings account, PayPal, wire transfers, a cryptocurrency wallet or even a credit or debit card.

Keep in mind, though, that platforms may charge higher transaction fees for certain funding options. For example, Coinbase doesnt charge a fee if you do an electronic transfer from a bank account. However, it charges $10 on wire transfers and 2.5% of the transaction amount if you use PayPal.

Things get even pricier if you use PayPal or a debit card to make a direct purchase of cryptocurrency, instead of funding your account and then using transferred money to make your purchase: Coinbases fee rises to 3.99% of the transaction amount. Credit card transaction fees on other platforms often run at least this high.

Because fees reduce how much money you can invest , it tends to make sense to use electronic transfers from a bank account rather than other methods. In addition, if you use a credit card to buy cryptocurrency, it generally will count as a cash advance and be subject to a higher interest rate than you pay on regular charges. Whats more, taking on debt to buy volatile investments is extremely risky.

Energy Consumption And Carbon Footprint

Bitcoin has been criticized for the amount of electricity consumed by mining.

As of 2015, estimated combined electricity consumption attributed to mining was 166.7 megawatts and by 2017, was estimated to be between one and four gigawatts of electricity. In 2018, bitcoin was estimated to use 2.55 to 3.572 GW, or around 6% of the total power consumed by the global banking sector. In July 2019 BBC reported bitcoin consumes about 7 gigawatts, 0.2% of the global total, or equivalent to that of Switzerland. A 2021 estimate from the University of Cambridge suggests bitcoin consumes more than 178 annually, ranking it in the top 30 energy consumers if it were a country.

Bitcoin is mined in places like Iceland where geothermal energy is cheap and cooling Arctic air is free. Bitcoin miners are known to use hydroelectric power in Tibet, Quebec, Washington , and Austria to reduce electricity costs. Miners are attracted to suppliers such as Hydro Quebec that have energy surpluses.

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What Is The Average Bitcoin Confirmation Time

Bitcoin blocks, containing all the most recent transactions, are added to the blockchain every 10 minutes. That means in theory, your transaction will receive its first confirmation within 10 minutes of the request being sent. Unless youre sending more than $1,000,000 worth of cryptocurrency, its unlikely that youd need more than 6 confirmations for the transaction to be processed, so typically it should not take more than one hour for the transaction to be fully confirmed.

Find Out If The Vendor Takes Bitcoin

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Many major vendors take bitcoin these days, so its really more of a matter of who doesnt take it than who does. Still, you can go online and check to see if your preferred vendor accepts bitcoin as a currency. There are ample amounts of lists online that detail all of the big vendors that accept that currency. Alternately, you can go straight to their website if you prefer.

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Bitcoin Core Wallet Recovery

The file you need to recover is wallet.dat if youre using the Bitcoin Core wallet. If you backed up your private key as well, you may be able to find that back too and recover your lost Bitcoins in only a few minutes.

You can find wallet.dat under the .bitcoin/wallets directory in Linux distributions such as Ubuntu, Fedora, Arch Linux, and Gentoo. Ensure that your file browser is set to show hidden files, as the .bitcoin directory is hidden. If you arent sure where that is, go to /home/username/.bitcoin/wallets.

Install Bitcoin Core on the new computer, copy the wallet.dat file back into the .bitcoin directory under your home directory if you use Linux. If it is Windows, it may be in the hidden AppData directory.

Before we continue, remember that this is why you must thoroughly erase any drive containing cryptocurrency wallets before disposing of it.

A decent recovery app is Recuva by Piriform. It will scan your hard drive for deleted files and provide you with the ability to browse through/copy them somewhere safe. The use of undeletion tools such as these is applicable in any case of accidental deletion, or even a formatted hard disk .

If you use Recuva, select the All Files option when the file recovery wizard starts, then select the drive that the wallet or private key is on. If you wish, you may want to start without selecting the deep scan option. If you cant find your files, then try again with the deep scan option turned on.

Why Take Measures To Stay Untraceable

Its not just criminals who should worry about their identities being tracked.

There are many legitimate reasons why individuals would want to keep their privacy intact. Like traditional bank accounts, Bitcoin addresses hold monetary value and are vulnerable to hackers. Protecting your data helps keep you safe from internet predators. Other reasons to remain anonymous could be to keep your net worth hidden.Regardless of individual motives, increasing personal privacy is effective but not foolproof. Ultimately, any online transaction runs the risk of being traced.

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Do I Just Need The Money

Forgive me for leaving the obvious question until last. Sometimes as much as youd like to let your investments ride, you need to tap into them sooner than later. Medical bills, a job layoff any number of things can crop up that require an influx of cash instead of digging deeper into debt. If thats what youre facing, ease up on the guilt, be thankful for this safety net, and know that you dont have to cash in all of it.

Bitcoin Price Is Volatile

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The price of a bitcoin can unpredictably increase or decrease over a short period of time due to its young economy, novel nature, and sometimes illiquid markets. Consequently, keeping your savings with Bitcoin is not recommended at this point. Bitcoin should be seen like a high risk asset, and you should never store money that you cannot afford to lose with Bitcoin. If you receive payments with Bitcoin, many service providers can convert them to your local currency.

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Convey Your Intentions To The Scam Company Without Being Emotional

It may sound simple, but too often people have missed opportunities for not trying the basics or doing the basic in an incorrect manner. The first way to attempting to recover your bitcoin or cryptocurrency is by establishing contact with the scam company in a meaningful way.

Dont show emotion

Were not suggesting having a friendly chat with the scam company but rather to communicate to the scammers in an emotionless way that you intend on and have already begun pursuing them using legal means.

If youve already sent them angry emails or yelled at them over the phone, no matter. Go ahead and start over with a different tone and go through the process in a competent and professional manner.

Its important that you dont show very much emotion or anger because this tends to make the scammers feel as though you are out of control because you know that theres nothing that you can do. You want to avoid using expletives as angry as you might be. This only encourages the scammers to ignore you.

Avoiding Pitfalls When Using A Bitcoin Atm

While Bitcoin ATM transactions usually go pretty smoothly, there are a few pitfalls youll want to watch out for. Here are a few tips you should keep in mind to use Bitcoin ATMs safely and securely.

  • Watch Out For Scams: Some scammers have used Bitcoin ATMs to take advantage of unwitting victims and they have done this in a variety of interesting ways. To be careful, be sure that you never pay for services or bills using a Bitcoin ATM. Some phone scams, email scams, and internet ads have requested tax payments, utility bill payments, and other types of payments via a Bitcoin ATM. Avoid being persuaded to use a Bitcoin ATM for a transaction, as this is likely to be a scam and can lead to you being frauded out of your hard-earned money.
  • There Are No Refunds: Remember that there is no way to get a refund after making a Bitcoin transaction. Always be sure about what you want to do before using a Bitcoin ATM and double-check the specifics of any transaction youll be making.
  • Buying Bitcoin for 3rd Parties: Another thing you should avoid doing with a Bitcoin ATM is buying Bitcoin for a 3rd party. Only use Bitcoin ATMs to buy or sell Bitcoin for yourself or to send cash to a friend or family member.

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Can You Trace A Bitcoin Address

Many believe that Bitcoin is completely anonymous. However, with forensic analysis, any Bitcoin address used in a transaction is very likely to be traceable. This means Bitcoin transactions are actually pseudo-anonymous.

All Bitcoin transactions and the wallet addresses involved are recorded on a public blockchain the Bitcoin blockchain, to be specific. They are open and available to everyone to see.

However, Bitcoin wallet addresses alone dont reveal any identifiable details. However, they do provide a foothold for further investigation. Imagine your Bitcoin address like an email address or an online alias how hard it is to link to your actions depends largely on what you do with it and the willingness of another party to trace you.

Say you publicly share your Bitcoin wallet address. Perhaps on a forum. Even if its not shared with any identifiable details, you may have used the same username somewhere else. You may have shared identifiable details in another post under that username, which someone can track by looking through your posting history. You may also have used an email address to sign up to the forum, which is also public. Its not hard to then connect the dots.

Are You Looking To Promote Your Business

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South African finance business owners can create your free business listing on nichemarket. The more information you provide about your business, the easier it will be for your customers to find you online. Registering with nichemarket is easy all you will need to do is head over to our sign up form and follow the instructions.

If you require a more detailed guide on how to create your profile or your listing, then we highly recommend you check out the following articles.

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Real Bitcoins Or Cfds

It is almost impossible to answer whether you should buy physical Bitcoins or CFDs instead. There are pros and cons about both methods as well as there is a great risk related to both methods. The popularity of cryptocurrencies seems to be constantly growing which makes the Bitcoin market quite interesting, but at the same time, it is also a risky market. Before you decide whether you want to buy real Bitcoins or you want to buy CFDs, you should spend some time reading the pros and cons of both methods, so you can make the best decision for your needs.

Option : Use Bitcoin Atms

Although an online crypto exchange is a secure and convenient option for many users, sometimes you dont want to go through the process of signing up, verifying your identity, and then waiting for the withdrawal to clear.

If youre faced with an emergency, you can visit a Bitcoin ATM and take out a small amount. Most of these machines have withdrawal and deposit limits of $1,000 to $10,000, so you wont be able to convert every bit of bitcoin you own. Plus, who wants to carry around large stacks of cash?

Find a Bitcoin ATM near you

As of this writing, there are roughly 18,000 crypto ATMs across approximately 70 countries, according to Coin ATM Radar. For instance, about 15,000 exist in the United States, 1,300 in Canada, and 200 in the United Kingdom.

About 40% of all installed Bitcoin ATMs support selling. Find one near you using the interactive map from the Coin ATM Radar homepage:

  • Select your cryptocurrencies, such as Bitcoin or Bitcoin cash .
  • Select whether you want to buy or sell.
  • Scroll along the map to find your area. For instance, about 89 ATMs sell Bitcoin in the New Jersey/New York area.
  • Zoom in on the map to find one closest to your location.

Verify your identity

In general, the operator of the crypto ATM will require that you verify your identity. The procedure varies by type of machine, though.

Select your options

Enter the amount you want to withdraw

Take your cash minus a fee

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Chris Pay Information Security Consultant

Answered Aug. 28

If your PC is still running an old operating system then do not connect it to the Internet as your system will be at risk of being compromised through any of the vulnerabilities that have been discovered since you last updated it. The first thing you should do is to make an offline mirror image of your hard drive using something like Acronis True Image. This will enable you to recover your system to its original state at any time. Then find someone who can help you to recover your keys while keeping the system off-line.

Accidental Deletion Of Bitcoins

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If you accidentally deleted your Bitcoins, your chances of recovering your wallet is decent. I have recovered data which was accidentally deleted on my fair share of occasions, and a very small number of the files were corrupted .

If you delete a file, it goes to the Recycle Bin in Windows or Trash folder in other operating systems. If you Shift + Delete a file or empty your trash folder, your files are most likely still on your hard drive.

This is likely because actual deletion is resource intensive. Fully erasing all data on a hard drive takes an eternity. So your OS will simply remove that files MFT reference and eventually overwrite it if another file needs the space.

What this means is that you will have to do a scan for deleted files, and possibly sift through gibberish until you find the lost Bitcoins . This is called a data recovery procedure.

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Unusual Bank Account Movements

Sometimes, you deposit a large amount of money into your bank account. Then, the bank official might ask you some questions regarding the same. If you dont bother to tell them the truth, they might freeze your account. In this way, you will not be able to make any transactions from your bank account.

It will help if you talk to your bank officials beforehand whenever you cash out your bitcoins, especially a significant amount. It is the only way you can avoid problems after transferring the bitcoins earnings to your account. Another alternative is to create a new one on a different bank for only bitcoin earnings.

Investing In Companies With Crypto Interests

Thats how personal finance expert Suze Orman initially did it. She recently told NextAdvisor about how she invested in MicroStrategy, a cloud computing firm that holds billions in Bitcoin, because its CEO was putting all of the companys working capital into Bitcoin. She figured if Bitcoin increased in value, so would the value of Microstrategys stock.

But as anyone who follows Ormans advice knows, she recommends index funds as a much better investment strategy than picking individual stocks.

Rather than buying shares in any single crypto-forward company, its better to maintain a balanced portfolio by identifying companies with crypto interests, and making sure their shares are included in any index or mutual funds you put money into. Not only does that allow you to invest in the companies where you see potential, but it also helps you keep your investments diversified within a broader fund.

If you invest with Vanguard, for example, you can use the sites holding search to find all the Vanguard funds that include a specific company. Just enter the companys ticker symbol and the tool will offer a list of all the Vanguard products that have holdings of its shares. Other investing platforms offer similar ways to search by company within index and mutual funds.

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