Which currencies does the Coinbase Card support?

You can spend the cryptocurrencies loaded on your Coinbase account’s wallet.

Fiat currencies and cryptocurrencies Coinbase supports

• Supported fiat currencies: USD, EUR, GBP
• Supported cryptocurrencies: Approximately 17 cryptocurrencies

How can I fund my Coinbase Card?

You can deposit funds onto your Coinbase account. Coinbase accepts the following payment methods:

• Credit card
• Debit card
• PayPal

Coinbase Card fees and limits

The first fee is the plastic card issuance fee of £4.95. You’ll need to have enough funds in your Coinbase account to cover that cost before you can order the card.

After that, you’ll encounter the following fees when using your card for purchases or for withdrawing cash at an ATM.

Coinbase Card fees for purchases

Your fee for purchases with crypto will be made up of the cryptocurrency conversion fee, plus the relevant transaction fee for the location.

So if you make a purchase with your card outside of Europe or the UK, you’ll be charged a 5.49% fee. If you make a purchase inside the UK you’ll be charged only the 2.49% conversion fee.

Coinbase Card ATM fees

The ATM fees listed here apply to both ATM withdrawals and over-the-counter cash withdrawals from bank branches. Your conversion fees will apply on top of the relevant ATM fees.

Coinbase Card limits

The table below shows the default limits. Note that you can change the daily spending limit by contacting Coinbase Card support.

Conclusion

Pros

• Link the card to your Coinbase account and activate it, then you’re good to go.
• Widely accepted. The card is accepted anywhere a standard Visa debit card is.
• Almost just like a standard debit card. It’s just like a standard debit card, except for crypto. You can even tap and go with it.

Cons

• High fees.

If you’d liked this article but you wish to learn more, try reading this article on How to create a coinbase wallet.

Or, if you’d like some free money – check out this – How to Claim free 50 Stellar Lumens.

The post What is the Coinbase Card? appeared first on Bizznerd.

The 2011 brainchild of former Google employee, Charlie Lee, Litecoin derives most of its source code from Bitcoin’s Github repository, though It sports a Scrypt hashing algorithm as opposed to Bitcoin’s SHA-256 as well as a block production time of 2.5 minutes instead of 10 (as with Bitcoin). The digital asset’s rate of issuance is designed to decay by half, every 840,000 blocks (about 4 years or so), implying the digital currency’s finite supply.

Factors To Consider

With the block generation reward for Litecoin set to drop from 25 LTC to 12.5 LTC on August 6th, 2019. The event carries with it a number of implications. The fact that mining rewards are cut in half possibly means that the network could see fewer miners supporting it, opening it up to a potential 51% Attack.

Litecoin currently carries an inflation rate of around 8,4% per year, which is projected to drop to around 4% following the halving event. Other factors to consider, concerning Litecoin’s halving event are: owing to the lack of Litecoin based hedging markets (Litecoin futures markets) profitability is dependent on price.

One must also consider that Litecoin has a far lower on-chain transaction rate than Bitcoin so a greater proportion of miners’ revenue comes from block rewards as opposed to transaction fees (0.12% of Litecoin’s block reward constitute transaction fees, whereas transaction fees on bitcoin make up 6%-8% of mining the mining reward.

Past Halving Events

Since inception, Litecoin has only had one halting event (August 26th, 2015), which saw Litecoin leap from $1.5 in the 3 months prior to the halving event, to $3 post having (having experienced a $7 peak pre-halving, in mid-July of that year). Litecoin’s hashrate however, only experienced a 15% drop around the halving event before recovering in the two weeks following the previous halving event. Indicating that miners had opted to support the network, contrary to predictions. The pre-halving rally had in fact compensated for the drop in mining reward.

“As a result, post-halving mining profitability was only inferior by a few percent to the long-term median profitability (around 38 USD/day per GH/sec).” – Binance Research

Bitcoin Halving Events

Bitcoin, which has been around longer than Litecoin, has experienced two halving events since inception. On November 28th 2012, Bitcoin’s block reward went from 50 BTC to 25 BTC, and on July 9th of 2016, it experienced it’s second halving event – with the reward going from 25 BTC to 12.5 BTC per block.

Bitcoin’s first post-halving rally saw the crypto asset’s price movements compensate for the drop in mining profitability. The second halving event, however, played out differently. The ballooning competition in the mining industry, as well as an increase in mining difficulty, saw block profitability drop significantly both before and after that particular halving event.

Possible Halving Scenarios

Bullish Price Movements Before Finding Stability At New High

This scenario is probably the most likely, as Litecoin has been rallying since the opening of this year and has gone on to log a 200% return Year-on-Year while the rest of the crypto market is up over 40%

An Increase In Litecoin Hashrate Prior To Halving Event

More miners may opt to mine Litecoin before the halving event in anticipation of the impending drop in mining rewards. This may lead to a rise in the crypto asset’s hashrate – and by virtue of that – the mining difficulty. According to BitInfoCharts’ comparison tool, Litecoin’s hashrate has been rising since the beginning of the year.

Mining Profitability Adjusts To Compensate For Miners Exiting The Network

In the event that miners opt to switch to supporting more profitable cryptocurrency networks (unlikely, given the spike in hashrate), Litecoin’s hashrate would fall leading to the drop in competition compensating for the decrease in block rewards.

A drop in Litecoin’s hashrate, resulting from a drop in the number of miners supporting the network could leave it vulnerable to a 51% Attack, thus making it more centralized, as one group would control majority voting power and would more than likely voting in favour of their own update proposals.

Mining Profitability Drops Permanently

If Litecoin’s price fails to stabilize at a higher price point than before the halting event (In the 90 days post halving event) then mining Litecoin may become unprofitable. Seeing as profitability wasn’t affected in the last halving event, it is difficult to determine how miners might react to a drop in mining profitability from supporting the Litecoin network.

Conclusion

It seems that the next Litecoin halving will mark a chapter in the cryptocurrency halving events textbook. As it appears, an increase in prices resulting from the reduction in Litecoin supply as well as an increase in use tie heavily into Litecoin’s future profitability, as far as mining is concerned.

The post The Litecoin Halving: Possible Scenarios appeared first on Bizznerd.

There are not many cloud wallets that support Doge, so this is one of the main advantages of Block.io and one of the main reasons I started using it in the first place.

For me, Block.io is one of the easiest and most secure web Bitcoin Wallet that exists. They follow two signature authentications to store addresses. To store address Block.io signature and user’s signature is required. They also support green addresses, meaning that you don’t need to wait to use your coins when you deposit, it’s instantly available.

One of the negative aspects is that private keys for the wallet are stored by Block.io meaning users lose some control over their funds. However, Block.io apply strong security measures by encrypting private keys with 256-bit AES cipher.

Wallets do have multi-signature functionality and users can also enable two-factor authentication for an extra layer of security. Withdrawals require at least two signatures with one being the user and the other being Block.io themselves. Users can enable up to four signatures for their side for a total of five signatures required.

Block.io charges no additional fees for transactions. Any fees charge represents solely the network fees for Bitcoin, Litecoin, or Doge.

How To Create Block.io Wallet?

To create your wallet simply go to block.io and click SIGN UP.

On the first registration, step enter your email and password.

On the next step, you’ll need to set your secret PIN.

Once you click on the “Set Secret PIN” button a new “Secret Mnemonic” pop up will open. Please write down your Secret Mnemonic.

Note: On sign up Block.io asks you to save secret Mnemonic and Secret PIN (This is necessary to withdraw/send your coins. Do not lose it. Do not share it with anyone) Your account will be lost if you lose your Secret PIN and Mnemonic

After logging in successfully, you’ll see Block.io dashboard and be able to access your wallets and preview transactions.

Block.io Network Fees

For Dogecoin Transaction(s) – 1 DOGE
For Bitcoin Transaction(s) – 0.00002 BTC
For Litecoin Transaction(s) – 0.001 LTC

These Fees Depends on Size of your Transaction in Bytes.

Note: There are three ways to withdraw Slow, Normal and Fast. Each one has a fee Higher than one before. Normal is recommended By Block.io, but You can select which one You want.

Block.io Security

Block.io uses the mechanism of MultiSig wallet and any transaction needs to be signed by more than one key: one controlled by Block.io and the other by you (your secret PIN). This, more or less, means that you have control over your funds, or at least that the site gets compromised any time, your funds will stay safe.

Block.io API for Developers

Block.io is relatively easy to use and is designed for use by both the end users (clients) and developers. It, therefore, comes with a ready-to-use API to assist developers in integrating the wallet and its features with their applications.

With their API, you can create wallet addresses instantly, check their balances, and withdraw coins from them whenever you want. It really makes life easier for developers that want to integrate blockchain transactions with their apps. At the moment developers’ libraries are available in languages Ruby, NodeJS, PHP, and Python.

The full API documentation can be found here.

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The post Block.io – Bitcoin, Litecoin and Dogecoin Wallet and API Review appeared first on Bizznerd.