Everything You Need to Know About ZCash Mining: Step by Step Guide!

Everything You Need to Know About ZCash Mining: Step by Step Guide!

Everything You Need to Know About ZCash Mining: Step by Step Guide!

The post Everything You Need to Know About ZCash Mining: Step by Step Guide! appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.
The early days of Bitcoin mining share many comparisons with a gold rush. With relative anonymity and P2P (Peer to Peer) electronic payment transfer capabilities, Bitcoin is a very attractive cryptocurrency to most people. All of this, as well as the ability to mine new crypto tokens with a computer occasionally with outrageous profits, made Bitcoin mining a promising frontier. Is ZCash mining next in line for a similar outcome?
ZCash Mining
Initially launching in 2016, ZCash had the aim of providing greater anonymity to its users than Bitcoin offers. This is done by publishing all payments on a public distributed ledger (blockchain) and giving users a privacy option which conceals the amount transacted as well as the sender and recipient.
Zcash is a privacy-protecting, digital currency built on strong science.
Like most cryptocurrencies on the market, ZCash relies on its miners to add transactions to the blockchain. All nodes on the ZCash network contribute to confirming the validity of new transactions on the network. As it stands, the miners are the ones that take on the heavy lifting in securing the ZEC blockchain network. This is done by using a Proof of Work consensus algorithm for mining. With PoW, miners compete against one another by using large amounts of processing power and electricity to add a new block to the main chain. The first miner to complete the correct computation for each block is rewarded with a standard network block rewards, as well as any fees for the transactions they added to the blockchain. ZCash uses the Equihash mining algorithm, making ZEC an ASIC-resistant cryptocurrency.
What do I need to start?
ZCash mining is a good place to start for new miners. As this cryptocurrency is ASIC resistant, you don’t need to spend thousands on a mining rig just to stay competitive when solo mining. Most ZCash miners either use their personal computer system or made a mining rig out of multiple GPUs. Your mining experience with ZCash is entirely dependent on the hardware you settle for. When tasked with picking the right GPU for the job, it almost always boils down to picking either AMD or Nvidia. The card you use will be more or less effective depending on the hashing algorithm and the cryptocurrency you’re mining. In some instances, AMD cards outperform Nvidia cards. But when it comes to ZCash mining, Nvidia still reigns supreme.
The Equihash mining algorithm ZCash uses is much better to Nvidia cards than it is to AMD cards. Especially when using the EWBF mining software. If you’re looking into mining ZCash, you’re going to need an Nvidia graphics card. Whichever card you settle for, make sure it has at least 4GB of Ram if you’re using the EWBF miner. Technically you need at least 1gb to use this mining software, but old cards are less energy efficient and often have lower hash-rates. If you want to enter the ZCash mining scene on a budget, the GTX 1060 6gb is a good card to start with.

Monero #XMR is currently the most profitable coin to mine using GPU units, it’s winning over Ethereum #ETH Ethereum Classic #ETC and Zcash #ZEC since January 2018 👉🏽 https://t.co/eepdp4axyv #Mining #profitability #profit #cryptocurrencies pic.twitter.com/Bt8vr8TiUr
— InsideCryptoCoins.com (@insidecrypto365) November 5, 2018

Pool or Solo Mining?
The cost to competitively run a solo mining activity is extremely high. As a result, most miners decide to join a mining pool instead. Once your mining rig is installed and set up correctly, the last step is to decide if you’re going to join a pool or solo mine. There are plenty of mining pools to chose from. But one of the best for ZCash is Flypool. Flypool is one of the most recommended mining pools for Zcash. Charging low commissions, and controlling over 50% of the network hash rate. To set up your EWBF mining software with Flypool is relatively easy.
Flypool setup
Once you get to the Flypool website, scroll down to the Windows-Nvidia section. Then copy the script example as seen below.

You’re going to paste that string of text into the Flypool .bat file in your EWBF miner folder. Once done, right click on flypool.bat and click edit. This will open a notepad file in which you should paste the code from Flypool. In this example, I’m going to update my server to “EU1” and remove the “–cuda_devices” code at the end. This code should only be used if you’re designating mining tasks to only certain devices. (This is convenient if you want to game with 1 GPU and mine with the other.)
After that, copy your Zcash wallet address and paste that in the flypool.bat file. In the example above, you would be replacing the user t1NF….8DX and replacing that with your own address. Now you can save your file as a batch file. To do this, click File>Save as and type .bat after the file name then save. Congratulations! You now have a batch file fully configured to start  ZCash mining. For added convenience, you can create a shortcut of the new .bat file and add it to your desktop.
While ZCash may be one of the more profitable coins to mine, this is no game for rookies. If you want to make serious money mining ZCash, you’re probably going to have to invest in building a mining farm. Multiple GPUs and motherboards are the only way to rack up a hashrate high enough to make your profit worthwhile. For some people, mining cryptocurrency is a hobby, and making a profit doesn’t matter. But if this isn’t you, trading ZCash on cryptocurrency exchanges may be your best option. Trading crypto assets open you up to arbitrage opportunities which can help you make good profit daily if you stay consistent. Will you be trading or mining ZCash? Why? Let us know your thoughts in the comments below!
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Litecoin Mining Guide for Beginners. Simple Steps to Follow!

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updated: 13/12/2018
Much like its older brother, Litecoin is a peer-to-peer online network people can use to send and receive payments. As Litecoin is decentralized and peer-to-peer, it is not controlled by a single entity or a government. This payment system doesn’t handle physical currencies such as the Rand or the Dollar. Instead, it uses its own unit called a Litecoin (symbol: Ł or LTC). As a result, this is why you will often see Litecoin classed as a digital or virtual currency. People can buy and sell Litecoin on a variety of cryptocurrency exchanges online. In this post, we will be talking about Litecoin Mining, an alternative way to accrue Litecoin tokens.
Litecoin Mining
Rather than having a single central authority in charge of securing and controlling the money supply (as most governments to with their national currencies), Litecoin distributes this work over a network of miners. These miners apply large amounts of processing power and energy in order to solve computational maths problems on the blockchain in order to verify new transactions and assemble them into ‘blocks’ before adding them onto the chain. Collectively, all of these blocks constitute an authoritative record of all transactions ever made on the network. This is known as a blockchain.
Litecoin makes sure there can only be one blockchain by making blocks extremely hard to produce. Meaning instead of being able to create new blocks at will, miners will need to produce a cryptographic hash of the block, meeting certain criteria. The only way to find one is by computing as many blocks as you can and hope you get lucky and find the correct block before anybody else does. This is the aspect that makes solo mining so competitive. The miner that successfully adds a correct block to the chain is rewarded with 25 freshly minted Litecoins.
While this may seem like a get rich quick scheme if you’re hearing about it for the first time, it’s not. Every few days, the difficulty for mining blocks is adjusted based upon how frequently new blocks are appearing. The result of this is that more competition between miners will mean it will take more work to find a block. This network difficulty remains constant for all miners, and can be quantified by a number; The current Litecoin network difficulty is  8,000,573.76323430.

For the love of god…..why is the difficulty not down while mining Litecoin right now? pic.twitter.com/e6IhGqsMUr
— Skymans $LTC (@SkymansL) November 19, 2018

Is Litecoin Mining Worth it?
Under certain conditions, Litecoin mining can definitely be lucrative. In the early days of cryptocurrency, people could easily turn a profit by mining with their CPUs and GPUs. But now due to the introduction of specialized mining hardware (commonly known as ASIC miners), CPU and GPU mining is slowly becoming obsolete. Comparing the profitability analysis’ of a CPU, a GPU, and an ASIC miner will show you that the costs of CPU and GPU mining far outweigh the rewards. Even with access to free electricity; the profits are so small in comparison to ASIC miners that it’s hardly worth the effort.
2018 is the year it becomes dead simple for anyone to buy Bitcoin. We already have so many different apps that support it. Which big ones did I miss? Some of these even support Litecoin. Mainstream adoption here we come – Charlie Lee
Before you buy
Despite this, ASIC hardware is the furthest thing from being a crypto token generating machine. Potential ASIC buyers should take into several different elements in order to see if they are even able to turn a profit. Some of these factors are:

Energy Consumption: If you’re paying more in electricity bills than you’re earning by mining Litecoin, you’re not making a profit. Having access to cheap or even free electricity is key when mining as ASIC miners use large amounts of electricity to function.
Network Difficulty: With more miners joining the Litecoin network, some with extremely powerful mining farms; the overall mining difficulty rises every few days in order to compensate. For this reason, you should always take network difficulty when calculating your Litecoin mining profits.
Resale Value: ASIC miners have only one function, mining cryptocurrency. Because of this, selling your hardware after you’re done with mining could be difficult. If you’ve stopped because cryptocurrency mining is dying, then chances are everyone else has as well.
Entry Price: If you want to mine in order to create a worthy income, you’re either going to need several ASIC miners or hundreds of GPUs. This will cost you thousands and is a risky thing to do considering the current volatility in crypto prices right now.

If you’re looking for a wealth creation mechanism, mining is your best bet. But it’s never as easy as it sounds. Mining any cryptocurrency requires planning, and often, a large amount of money to start. ASIC mining hardware costs a lot of money, and it eats up a LOT of electricity. Having multiple means your electricity bill will change drastically. Hopefully, if you’ve set your rig up correctly, you should be making enough to still make a profit. Otherwise, trading may be your best option. Our cryptocurrency exchange allows users to trade Bitcoin (BTC), Cardano (ADA), and many more altcoins with low fees. Also, our Black Friday event is coming up soon and we are offering free coupons for 0% trading fees for a week!
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Crypto to Get Regulatory Certainty in South Africa in Payment System Review

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It seems as though the authorities in South Africa are finally seeking comments on proposed policy changes that could potentially offer cryptocurrencies (amongst other things) regular certainty. In this post we will be going over the new crypto policy in South Africa.

A New Crypto Policy

According to the South African Reserve Bank (SARB) and the National Treasury; an overhaul of the national payment system is on the way. This new crypto policy will feature a new set of infrastructures and arrangements, allowing users to transfer funds between individuals and entities. This has been long overdue as the current legislation backing the system (The National Payment System Act of 1998) is out of date.

This review will align the current legislation with the worldwide cryptocurrency trend. As well as this, it will ensure that the regulatory net covers sectors of the country’s economy that were previously in a regulatory grey-area (such as cryptocurrency). SARB states:

“[Seeks to] Allow/enable new or unregulated service providers, services, systems and instruments (e.g. virtual currencies, distributed ledger technologies and fintech companies)”

Safety and Efficiency

The National Treasury and SARB state; it is only through a new review that continued efficiency and safety of the current national payment system can be assured.

As the payments industry moves towards a digital age and becomes increasingly innovative, and financial technology becomes more advanced, the emergence of new payment methods, technologies, services, risks, participants and ‘payment systems’ have become increasingly prominent and  challenge the traditional payments regulatory landscape,A joint statement from SARB and The National Treasury

Both SARB and The National Treasury will be welcoming comments until the end of February 2019.

In comparison to other African countries (Like Zimbabwe, which took an outright unrelenting anti-cryptocurrency stance); South Africa has been highly progressive in regards to cryptocurrency and digital assets. Even though there are regulations for crypto in South Africa, their crypto policy isn’t nearly as restrictive as other countries. Earlier this year, the authorities in several jurisdictions were placing bans on cryptocurrency. As a result, the most industrialized economy in Africa avoided a knee-jerk reaction; when the country’s central bank set up a team tasked to monitor cryptocurrency.

SARB looking at regulating airtime and Bitcoin transfers https://t.co/we3exKSOKB— MyBroadband (@mybroadband) December 6, 2018

Surprise Consequences

South Africa is known to prefer self-regulation in this sector. At the time, an official at the Apex Bank argued that the regulation of cryptocurrencies could end in adverse effects.

Regulating cryptocurrencies prematurely could have the negative consequence of throttling the growth and innovation of the industry. In addition, if laws are drafted based on existing technology, which is still in its growth phase, there is a risk that the technology may have moved so much by the time the legislation is enacted, that the legislation is obsolete or requires updating almost immediately to align with the latest technology.

In addition to this, the South African Reserve Bank has embraced Blockchain technology. This is seen in their support for public distributed ledger technology with it’s Project Khoka. Project Khoka is a blockchain platform that uses the Ethereum blockchain in order to process interbank settlements and payments. Three months ago, Project Khoka won an award for the Best Distributed Ledger Initiative at a global central banking event.
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My first Mining Rig: The Mistakes I’ve made, which you should avoid!

My first Mining Rig: The Mistakes I’ve made, which you should avoid!

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Today I will share my personal experience with my mining rig or mining machines, or even cryptocurrency mining machines, whichever way you want to refer to it. There are plenty of different names these machines commonly go by. And like everyone I was in a hurry not to miss out on my slice of the big pie of “easy money”, without prior experience or gaining enough information on this topic.  
How did I get into Cryptocurrency mining?
It was a sunny, warm day. I was slaving away working at the office, doing all my SEO magic tricks, conjuring my best spells, praying to different Mayan Gods and mumbling some strange noises when my phone rang. It was my best friend Ibrahim. He was excited, like a bit more than the time when his wife said “yes” to his engagement proposal. On the other hand, I was intrigued about what could be so urgent that he could not wait to share it with me. I can remember that he said something along the lines of bitcoin and ethereum that we could mine with mining machines making lots of money and that we will have to start mining soon! Sounded like nonsense to me. Or, at least it was nonsense to me back then.
To put it in context this was 3 years ago when one bitcoin was like R9,060($650), and ethereum R84($6), can you imagine? However, today one bitcoin is worth R61,500 and an Ethereum trades for R1,678.

Back to my story. So, Ibrahim called me and started explaining to me how he is going to invest in a mining rig and start mining cryptocurrency and buy a Ferrari. I had the question in my head: ”is this fishy?”. He was trying to convince me of the price differences. A week before his call ethereum price was R292($21), and on the call time R84($6). In other words, this is a  great opportunity, and I jumped right into the offer of partnering up to mine our own. Ready, set, go!
My first mining rig
Let me tell you about my first mining rig which was like all first loves quick, painful and complicated.  Moreover, I hope I don’t bore you to death with all the info, but hey, I want to share my experience with you. Okay, my first mining rig. I was a total noob(newbie). I just said to Ibrahim, ”Hey man, help me to build up my rig and let’s do it together”.

We spent 3 days building the hardware and configuring software. It is not that easy to make proper case structure for the mining rig, plug-in all cables, install the OS, install mining software, overclocking software, BIOS tweaks etc., run the machine and then pray everything will be okay. Murphy’s law, there will always be something that will not run properly…

Here is the list of all of the hardware I had back then (remember that was 3 years ago). More information about Mining  <—!

CPU G3930
ASUS Prime H270
Sapphire RX470 – 8GB
RAN 4GB DDR4 Kingston
Aurum PRO 1200W

My first Mining Rig
How was mining like back then – and reasons therefore
My first love was Ethereum. It was a kicking coin. New, with a bright future. It was easy to mine. In 2015 I was mining like 33 Ethereums per month. Can you imagine that? Also, the price was R84($6). So, it wasn’t that profitable. Ethereum mining lasted like a year maybe. Then I bought my second mining rig, but more about it some other time. I’ve changed to ZCash mining. The reason for that movement was because ZCash mining was “easier” for the mining rig and therefore more profitable. I can’t really recall the prices, but the more important part is I was making more money! Lol!

After a while, I returned to mine Ethereum and went back and forth between these two for a while… If you ask me why I haven’t mined bitcoins it’s because my mining rig was with GPUs, and for bitcoin mining the mining rig structure is different. With GPU mining rig the efficiency is too low for bitcoin mining.
Mining software and mining pools.
If you are just a little bit into crypto mining, I am pretty sure you’ve heard about Claymore. Many say that this is the best mining software. It is (at least my opinion) indeed the best mining software when you are using it for GPU mining rigs. It’s very easy to set up, connect your mining rig with Claymore and then with mining pool.

N.B.! Be very careful which cryptocurrency exchange you are going to use to deposit your mined cryptocurrency. Most of these exchanges have a commission and they are taking a small part of your mined coin when your rig is “depositing” them automatically to the exchange. I would suggest iCE3X because it’s with 0% fee for deposits! Now, you have your coin in its whole form in your pocket! Do not forget to transfer it to your hardware wallet if you are not going to exchange it!!!

You don’t have one? Take part of monthly cryptocurrency hardware wallet giveaway and you’ll have a chance to get one for FREE!

About mining pools, there are plenty. I was using mostly nanopool, but also ethermine. It depends, nowadays I haven’t done enough research to give you a proper answer. Remember: those pools have fees. So, check out which best suits your pocket!
Which exchange I’ve used to trade on and why?
To be honest my knowledge about cryptocurrency exchanges were on the same level as with mining rigs  I just started from scratch and read up on crypto exchanges on forums and channels, following on social media and engaging with other traders and miners on these sites to get the general feel and opinion on best exchange currently available.  And it’s not a joke the most impressive Exchange was iCE3X. Just a few things that really grabbed me:

They are very secure and it’s really hard to be scammed;
Very fast in transactions;
Also very fast in the ticket system. I get the answer always in time;
No deposit fees;
Trading features are top notch. There is always an ongoing update with something new that would help you to make money, and also protect you from losing lots of money!

So far the only crypto exchange that preaches to keep my coins in my own wallet, as this is the only way to say that I own my own cryptos. I love that!  Basically economical, efficient, reliable and secure all the attributes a trader or miner will be looking for in an Exchange.
I am currently off from the mining, and mining rigs, but I continue using iCE3X services to trade my cryptos!
The mistake I did
3 years ago in 2015 when I bought my first mining rig I spent like R62729($4500). Back then the price of Ethereum was R84($6). A little bit calculus for you.
If I had bought Ethereum with that money, back then I would have 750 ETH today.
With today’s prices, this is R2 456 912($176 250). Sure, I would most probably not have held onto them that long and I am pretty sure I would have sold them right after the price went up more than R200, but hey, it’s good to dream, right?

I would suggest investing in crypto rather than to buy mining rigs. Currently, the prices are low and many crypto gurus are speaking about how the prices will kick in again. So, don’t make the same mistake I did the first time around, but rather go to iCE3X and spent some money on crypto and wait for prices to go up. Now, keep in mind, this is an investment, which means that there is always a chance to lose that money. So, if you are into cryptocurrency, invest money that you are willing and able to lose! Don’t forget also that mining rig is also an investment!

Speaking about all of this, I am sure you would be interested in reading about bitcoin wealth creation mechanism article!
Yes, I’ve lost (spent) money and time on mining rigs, but I also learned a lot and gained experience. I’ve learned about cryptocurrency, the mining process which includes blockchain etc. Mining cryptocurrency helped me to have a small number of coins to operate with, which was a cornerstone. If I had like 750 Eth back in the days I would probably lose all of the money I’ve invested.

Now, with that experience I have, I would invest in cryptocurrency, not in a rig. I hope with that story of mine I am helping you, to make the right decision for you! But, keep in mind, this is my story, those were my situations.. All steps and decisions you make are your responsibility. Be accountable for them!

If you have any question, hit me on the comments, and I will try and assist you to the best of my abilities!
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GloBee is a Global Cryptocurrency Payment Processor Looking to make Paying with Crypto Easier

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If you’re looking for a payment processor that works with cryptocurrency look no further. GloBee users are able to sell items and send invoices in cryptocurrency as well as fiat currency.  GloBee enables payments in Bitcoin, Monero, Litecoin and more. When GloBee handles your payment processes, successful payments are sent to your private Bitcoin or Monero wallet. 
What is GloBee?
GloBee is a payment processor that can process payments in several different ways. GloBee users have the option to accept either cryptocurrency or fiat currency. This means that if you want to sell items on your e-commerce site or send invoices to people in order to be paid in cryptocurrency, GloBee will handle the payment process. The GloBee API exposes its entire infrastructure through a standardized programmatic interface. Meaning using this API, you are able to do almost everything available on the globee.com desktop customer client.
As well as that, GloBee is constantly looking into new cryptocurrencies with the intention of adding more cryptocurrencies that meet their standards as an industry leader to the GloBee platform. Currently, the list of cryptocurrencies GloBee accepts are;

Bitcoin Lightning

Why Cryptocurrency?
Why GloBee has chosen cryptocurrency?
Low Fees: Cryptocurrency networks offer fees which are significantly lower than any banking institution; allowing global transactions at a low cost to you.
Decentralization: The nature of the blockchain within the context of cryptocurrency, is that it is a distributed ledger of transactions, without one single controlling authority.
Speed: Due to the large decentralized nature of the Bitcoin network, transactions can be broadcast around the world in under an hour.
Global Transactions: There are thousands of Bitcoin users all over the world, in every country, meaning that transactions can be quickly propagated throughout the entire network.
Privacy: Monero offers complete transaction privacy, while even the Bitcoin protocol offers pseudo-anonymity for all transactions.
Who uses GloBee?
There are 3 main different types of people that use the GloBee payment processor (not including customers). These are:

E-Commerce Websites.

Many E-Commerce websites that accept crypto use GloBee for a streamlined payment process. With GloBee, customers are able to use up to 6 different cryptocurrencies in order to pay for their item of choice.

Website owners who want to accept cryptocurrency donations.

Many blog writers, photographers and artists accept donations via PayPal or gift cards. With GloBee, these website owners are able to accept cryptocurrencies as donations as well as fiat currency.

Anyone wanting to invoice customers and clients using our invoicing tools.

Some businesses prefer payment in cryptocurrency. As a result, using GloBee is their best option. With the GloBee payment processor; people are able to send invoices to other businesses or customers to be paid in cryptocurrency or fiat currency.
Do you feel more confident in the cryptocurrency world now? Moreover, do you feel ready to trade? If so, go to the most trusted South African cryptocurrency exchange iCE3X.com and start trading!
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New Trezor Firmware Update

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Time flies fast, it seems like just yesterday Trezor released another amazing update for their hardware wallets. Regardless, you have much to look forward to. This new Trezor firmware update is something special. It is a community-driven firmware update. Many of the changes in this package were implemented by external contributors, part of the Trezor Community. Both Trezor models received a firmware update. The Trezor Model T is now on firmware version 2.0.9, and Trezor One ascends to firmware 1.7.1. The new firmware versions are available in the Trezor Beta Wallet.
Trezor Firmware Update
The Trezor Model T now supports new coins that many of you have been waiting for.
Trezor One now supports WebUSB, a new communication protocol.

Coin support has expanded also.
With community-driven development in practice; the coin-developers work on the Trezor integration, and SatoshiLabs’ experts’ review, test, and optimize the code.

“With Trezor Model T, we have decided to redesign a lot of stuff completely from scratch. One of these changes was to have business logic code written in Python, language most developers are familiar with, instead of embedded C used for the original Trezor model. There is no better proof that this was a great decision than looking at the massive community contributions that have landed into the latest Trezor Model T firmware.” — Stick, SatoshiLabs CTO
Trezor Model T Version 2.0.9
Added support for Monero, Cardano, Stellar, Ripple, Tezos, Decred, Groestlcoin, Lisk, Zencash, and Zcash Sapling hard fork.
You heard it. The new Trezor firmware update now supports all of these coins. With this in mind, almost nothing stands in the way of developers of these respective cryptocurrencies. Or other third-party developers to implement Trezor integrations with their wallets. Be that as it may, some of them already have! Let’s take a closer look at the added coins:

Monero — Kudos an external contributor, Dusan Klinec, who has done a large part of the work. The new firmware now supports Monero. Now, Trezor is waiting for the Monero developers to release an update for their Monero Wallet. Once it happens, the users will be able to use Monero and Trezor with monero-wallet-cli and later through monero-wallet-gui.
Cardano — External contributors Juraj Muravsky and Dusan Plavak have been hard at work, and Cardano is now supported with the newest firmware. Also, VacuumLabs developed the AdaLite wallet which is now compatible with Trezor.
Stellar — Because of the efforts of ZuluCrypto, Stellar can be used via Stellar Account Viewer.

The new Trezor firmware update supports the following coins, and they are currently waiting for a third-party integration. For the purpose of clarity, the names in brackets are the developers who made it happen:

Tezos (Adrian Matejov)
Decred (Matheus Degiovani)
Groestlcoin (Yura Pakhuchiy)
Zencash (idimon4uk)
Lisk (Aleksey Popov)

On top of all these new coins and thousands of other small improvements across the board, Zcash sapling hard fork support, as well as a seedless mode, have been added.
Trezor One Version 1.7.1
The original Trezor hardware wallet, the Trezor One, has new features in store for its users also. The firmware version 1.7.1 adds WebUSB support for both Trezor Wallet and Trezor Password Manager (TPM).
These changes allow Google Chrome users to connect to Trezor Wallet and TPM directly, without the use of the Trezor Bridge. In fact, with correct cables, you can use your Trezor One with your Android mobile device or Chromebook.
In addition, with this new Trezor firmware update, Trezor One now supports Lisk and Stellar. Just like the Trezor Model T, Zcash sapling hard fork on Beta Wallet and seedless mode are now supported.
P.S. Digibyte in Trezor Beta Wallet
If you are a Digibyte fan, you will be happy to know that starting today, you will no longer need to manually enter a DGB backend server as a custom server for Trezor Wallet support. Trezor Wallets now support Digibyte Coins! They are accessible from the drop-down menu.

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Did the Bitcoin Cash Hash Wars Cause the Crypto Price Crash?

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The value of Bitcoin continued to drop throughout this week. This resulted in Bitcoin dropping below $5,000, the lowest it’s been in 13 months. In the second half of November, Bitcoin saw a drop in the value of 14% within a 24-hour period. This could partly be due to the U.S Securities and Exchange Commission’s sanctions on two crypto startups that were reportedly offering ICOs. Consequently, many other major cryptocurrencies also took a significant hit in value. Some of these coins include Ethereum, Bitcoin Cash, and Litecoin. In this post, we will be looking into what may have caused the latest crypto price crash.
The Initial Coin Offering Ruling
One of the first potential causes for this crypto price crash is the new ICO ruling. The U.S Securities and Exchange Commission made a decision to classify ICOs and unlicensed securities. This means that all of these types of offerings are against the law. Anyone hosting ICOs is subject to fines as well as restitution. While many people argue that the SEC’s intervention has been long overdue, the commision took a back seat in terms of observing and enforcing regulations within the crypto market. Until now. Be that as it may, the decision has definitely made man industry insiders question the viability of the current market environment during this period of grey area regulatory practices.
This decision by the SEC may not come as a surprise to some people, though it may have been enough of a shock to spook some investors away. Without clearer regulations being outlined by the U.S government and lawmakers across the globe, many investors will be hesitant to risk their capital.
The Bitcoin Cash Fork
While the ICO ruling could have been the factor that caused the recent crypto price crash, the BCH fork also made a lot of noise. The crash could have actually been a result of loyal bitcoin investors being torn between two coins. In the red corner, we have Bitcoin Cash ABC, weighing in at $191 (As of writing this post). In the blue corner, Bitcoin SV, weighing in at $102. While this event may provide some great entertainment, this fork is a divisive element that cryptocurrency could do without. Bitcoin ABC developers added a “checkpoint” that forces all miners to include the original Bitcoin Cash ABC blockchain in any chain. Without doing this, your chain will be deemed invalid by the software client. While there are other software options for users allowing them to opt out of the checkpointed version, it opens up the risk of another split.
The latest coin fork reaffirmed fears that Bitcoin Cash would become centralized. The main reason for Bitcoin Cash’s steep drops in value is supposedly a result of these types of fears. Be that as it may, it’s not the first time the cryptocurrency has forked. In fact, the changes that took place the last time this happened were also highly controversial, though it didn’t cause a drop in value like this time. Following this drop in price, Jehan Chu, Co-Founder & Managing Partner at Kenetic Capital stated:
Bitcoin’s previously solid price anchor was unmoored by the recent Bitcoin Cash fork and is unlikely to recover anytime soon. Craig Wright’s antics have exposed the fragile relationship between decentralized technology and the outsize influence their figureheads wield. Until blockchain technology proves more useful than the people behind it, price levels are unlikely to remain sustainably high
Advanced Micro Devices and Nvidia
Potentially, there is a third contributing factor that resulted in the recent crypto price crash. Recently, Nvidia and AMD announced some very disappointing results regarding cryptocurrency mining, even though both of these companies are leading suppliers of crypto mining hardware. People deem this drop in hardware sales as an indication of a drop in interest for cryptocurrency mining. As a result, the biggest question that stems from this situation is; whether miners saw this crypto price crash coming and stopped purchasing hardware, or if the drop in hardware sales made investors question long-term interest in cryptocurrency.
Consequently, Nvidia’s share prices fell to it’s lowest in 16 months following the announcement of the huge drop in hardware sales. In addition to this, the crypto price crash also could have been a factor. As it stands, it’s unclear if the drop in hardware sales is the result or the cause of the crash. Be that as it may, there is a clear correlation between both of these significant events in the cryptocurrency space.

SV is now ~50% of the market price of BCH. They have roughly the same hash power. All celebrations of victory are arrogant and premature. Competent businessmen (billionaires) do not start or end wars based on a few days of fighting.
— Steve Patterson (@steveinpursuit) November 26, 2018

Crypto Price Crash: Opinions from Market Insiders
In light of these recent events, many financial industry experts put their heads together to analyze the crypto price crash. For many people, this is the cause of the recent Bitcoin Cash fork. But for others, people believe it could be due to an ‘inevitable bubble burst’. A result of a period of unsustainable growth. A renowned crypto YouTube star by the name of Quinten Francois, Stated:
Market makers are finishing the cycle. Currently we are sitting under “the mean” or fair value of Bitcoin, which means that we are in the last bearish phase of the cycle called “despair”. After that we should see a market reversal and start a new cycle. How far we will fall is still a question, but a fact is that when Bitcoin would fall to $5,000 it would have lost 75% of its value top to bottom. That seems to be fair considering that a market loses less value every other cycle in the process of becoming mature. Last cycle Bitcoin lost 87% top to bottom (2014), but that was an entirely different market environment and industry
Michael Jeound, Trustverse CEO:
Crypto Civil War erupted from Bitcoin cash hard folk between ABC and SV (Satoshi Vision) has been one of the cause for the deep impact for the crypto market melt down and many investors are suffering from the incident. More importantly, this battle between ABC (Jihan Woo) vs. SV (Craig Wright), has no consensus from the public nor the DAU of Bitcoin Cash token holders and this makes it serious from the ethical point of view. It is centralized and monopolized power game, where blockchain is meant to become a public, decentralized trust mechanism. Price manipulation by power game is hurting digital wealth as well as it’s future value for technology development.
First of all, wasn’t blockchain more about sharability and shared economy? More and more I feel from this industry is that many things are manipulated, information asymmetry exists larger than the modern financial market, and moreover such incident really has impacted mistrust for many entities. No product or services that ignore right or customer satisfaction fails and this civil war really implies self-interest than public’s interest. Overall cryptocurrency transactions seem to be shorted and slowing down for now. My hopeful view is that the fundamental market has not been changed.
At the end of the day, there will always be people using BCH capitulation to drive prices down. Some people are calling it technical trading, others are calling it bad practice. If the hash war isn’t truly over, then an influx in cash is potentially still yet to come. This could give way to either a price drop or a price stabilization. Either way, we could be looking at a further drop in price before we see worthwhile gains.
I believe that cryptocurrency will flourish no matter what. I mean really, does the price of bitcoin actually matter? This crypto price crash is nothing to worry about. These events are minor blips in the grand scheme of things. Blockchain technology is still new, and as a result, it’s always developing and improving. Eventually, a coin will uncover some groundbreaking technology that will make governments seriously consider if crypto is better than fiat. If anything, these low prices are a good thing, it makes it cheaper for me to buy in! Buying the dips is a great way to make a quick profit. Will you be buying the dip? Or do you think crypto is in a bad state? There is always time to find arbitrage opportunities while trading in order to make a few extra bucks. Let us know your thoughts in the comments below!
Don’t you think it’s a good time to invest in crypto, while the prices are low?
The post Did the Bitcoin Cash Hash Wars Cause the Crypto Price Crash? appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.

Why is the Cryptocurrency Price Dropping?! Simple explanation of the situation.

The post Why is the Cryptocurrency Price Dropping?! Simple explanation of the situation. appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.
PANIC! PANIC! Everyone is in a panic because of the cryptocurrency price drop. My Facebook, Reddit and Twitter accounts are fully plagued by bitcoin memes about how crypto prices have fallen into an abyss, how all HODLers are lost, and that our hope and salvation have diminished. What should we do? Everyone is selling like mad and many are losing money in the process. STOP! Take the time to read and understand what is going on in the Cryptocurrency Market.
What causes these Cryptocurrency Price Drops?
The cryptocurrency realm is vast. With so many people having their own agendas, and general uncertainty in the community, a simple answer for this question does not exist. If someone claims that they know the answer, they probably have an agenda of their own. So let’s focus on cryptocurrencies, and why prices drop or rise? This is a fundamental question everyone is asking about., Firstly, we have governments which are really ”afraid” of bitcoin and company (altcoins)., Secondly, we have so-called ”Wall Street Brokers”, the “Bad Boys” of Trading Market, the “Thanos” of cryptocurrency story (at least they claim to be but such, as  well as big changes with some coins, like what has happened with bitcoin cash hard fork lately.
I can continue counting what could cause price drops or rises for the whole day long, and eventually, you’ll get bored. But you see, there are reasons that directly influence price changes. No one can be certain and sure what tomorrow will bring. Fake news from a big name. Some drastic change with a coin and etcetera. One thing is certain, we need to keep fighting for our rights because cryptocurrencies are THE salvation!
Why People are Selling now, but not HODLing?
When it comes to people, there is one catalyst that drives certain occasions to happen – Fear! People are afraid of losing money. Now, most people are greedy and jump right into the idea of cryptocurrencies, but they do not think that this is a pure investment, and they should be ready to “risk” the money involved in it. Let’s get to today’s case with bitcoin price.
When prices are going down…
The price today is R62,736.15 or $4465; The lowest the price of Bitcoin has been since it’s 2017 peaks. Now, everyone is panicking that this is the end of cryptocurrencies because the price has dropped. Everyone is on cryptocurrency exchanges selling their assets as if cryptocurrencies aren’t expected to be highly volatile. Imagine, thousands of people in panic lets get the current price as minimum R62,736.15 and those people want to get rid off their bitcoin, because of fear that they could lose more money. They sell their Bitcoin for example at R62,100 but someone else drops their selling price even more just to be able to sell it. This scenario repeats itself and becomes a huge wave of panicking people trying to sell their Bitcoin out of fear of losing more money.
On the other hand, there are people that are not so sure if they need to buy, because of the mindset “If I buy now and prices do not go up? I will be screwed”. So, the price continues to drop, until it reaches the dead-point where people in fear are fewer and now there are brave buyers who are starting to buy.
When prices are going up…
The same example applies whenever the prices start to go up. Now, a greedy buyer is ready to invest without thinking of the actual outcome. Let’s buy before prices are too high and then we will sell. That’s some easy money. Yeah, call for a restaurant reservation, because we are rich, and will drink and eat whatever we want.  Sellers see the opportunity that there are a big amount of people ready to buy. They set the price little higher and wait to make a little more money. Let’s get the same price as today: R62,736. If bitcoins are sold for that price and there are people who seek the opportunity, they are going to set more for sale, but with higher prices, like R63,123. Other sellers will rise a little bit more and again it will have a wave effect.
Mob Mentality
This is a plain example of the Mob Mentality. Wherever one wolf goes, the flock of sheep follows. No matter if the prices are going up or down people will aimlessly follow whichever reputable trader they deem as an alpha. The difference is that in one case there is fear and desperation, in the other case there is hope, greediness, and drooling. Even in the game ‘World of Warcraft’, this remains true.
I’ll Elaborate. Let’s look at the example of most sold item: Runes. The main intention of selling runes is to make more in-game currency. In our case, these runes are Bitcoin and Altcoins. You either want to sell or you want to buy, it doesn’t matter. What actually matters are all of the outside influences that are causing these price changes. Much like rumours that there will be a patch with better runes, then finding them to be completely useless once they are released.
Fear, Uncertainty, and Doubt
When we look at the biggest mobs that plague the cryptocurrency space, it often looks like this;
Bitcoin is a big bubble that eventually will burst and everyone will lose their money, so do not invest.
How could anyone know that without serious evidence? If there ever was evidence supporting a claim like this, it’d likely be all over our newsfeed. This is all just assumptions based on emotions. The best trading advice anyone can give you is to do your own research and only trade money you are willing to lose. If you’re only judging the potential of cryptocurrency based on its price, you’re most likely going to lose your money. Doing this is akin to driving your car on the wrong side of the road. It may go smoothly for a while, and you may even dodge a few cars in the process, but eventually, you’re going to need to either stop your car or change lanes.
The Last Man Standing
There are many people who will continue to hold their cryptocurrency or mine even when the prices are at their lowest. HODLers are people that understand the true potential of cryptocurrency, and hold on for the ride regardless of its ups and downs. This is a battle between the bulls and the bears. Panic selling at the first sign of danger will only lose you money and is often never a good idea. These people understand this, and HODL for dear life as they know mainstream adoption is inbound and it’s only going to get better from there. Letting your financial decisions be dictated by the feeling of fear will only end in depression. Bitcoin is a wealth creation mechanism. But first, you need to understand it and see the technology behind it. 10 years ago a single bitcoin cost fewer than R15 but today it’s worth vastly more.
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What Is a Salted Password? You Need to Avoid Websites Without Salted Passwords in all Circumstances!

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What are salted passwords? In the cryptocurrency space, when we start talking about your assets then security is one of our major concerns. It has come to our attention recently that many transactional platforms in South Africa do not have this feature. They are not doing their due diligence in regards to security and it all has to do with salted passwords. We are not talking about your run-of-the-mill table salt! Salted password is a cryptographic method of making sure things like your passwords are safer and more secure. We want to make sure you understand why it is important so that you can avoid any website without it. 
What is Salting?
As a best practice, most platform services like ours will store a password after a process of encryption. Your password (which I hope is a super secure password) will go through a program which will scramble your password according to rules that the system will be able to decrypt but makes it harder for a malicious agent to work out. This does not make it foolproof and hackers can use processes like dictionary attacks to try to guess the password. Salting adds an additional string of characters which will also go through the encryption process and makes sure that such attacks are not effective anymore.
Why do we “Salt” a Password?
The process of salting passwords creates an extra layer that a malicious agent needs to crack before they can have full access to the password. It is pretty hard to break a hash but it is even harder if the password is salted. An extra layer of protection doesn’t double the difficulty for cracking the password, but it multiplies exponentially! When we can improve the security by so much, it would be ludicrous not to add it.

Passwords are like potatoes. Best salted and hashed. #passwords #saltedandhashed #encryptedpasswordsareNOTsafe pic.twitter.com/lm513X1ghq
— Jane Scott (@JaneScott_) November 27, 2018

What Happens when there is no Salting?
When a malicious agent breaches a system, they can view all of the data which includes user logins and passwords. Without salting or basic encryption, they can gain access to all the user accounts using this and begin to wreak some havoc. When these systems involve anything of value like your finances or cryptocurrencies, these can incur enormous damages to the user. There are reports of some companies keeping passwords as plain text. Anyone with access, including people like staff members, had full access to the passwords in this case. Some customers report that some staff members of certain services have been sending their passwords in an email or message. The passwords are not salted if a member of staff can send them to you.
The malicious agent, either a legitimate user or a hacker, cannot access the user’s accounts as they cannot decrypt the salted passwords. Even the South African government ran afoul of this as recently as 2016. A hacker spread a leak of their data which shows that their passwords were not salted. These passwords were easy to crack for the whole world to see.
iCE3X Already has Salted Passwords
iCE3X has a 100% secure password management process. Not even a staff member at iCE3X can access your password, let alone a malicious hacker. We take your security seriously and in a perfect world, everyone else will too. We have always been a big proponent of two-factor authentication too which adds yet another layer of security. If security is a concern to you as well, be sure that you are not using any website without these. Let us know in the comments below if you have any experience with this. If this has opened your eyes to some serious security issues in the wild. If you do come across this practice, please let the service provider know of your concerns via private communications. – (Public announcement may put others at risk whilst the provider solves the problem 🙂
Do you use any website which does not employ security best practice? Moreover, if you request your password, would your provider be able to send it to you?
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Ledger Cryptocurrency Hardware Wallet GIVEAWAY | DEC 2018 | iCE3X

Ledger Cryptocurrency Hardware Wallet GIVEAWAY | DEC 2018 | iCE3X

The post Ledger Cryptocurrency Hardware Wallet GIVEAWAY | DEC 2018 | iCE3X appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.
It’s the last giveaway we have for 2018! The iCE3X Crypto Wallet Giveaway allow participants the chance to get their hands on a brand new LEDGER Nano S cryptocurrency hardware wallet. We are offering the Ledger Nano S as the first prize for the lucky draw in our giveaway (which has an approximate value of R2000.00). The competition is running from 1 December 2018 and will finish on 31 December 2018 at 12 am GMT+2. The Ledger Giveaway for December 2018 is running now!!!
Your Online Security
Online security is very important and most noteworthy when it comes to your cryptocurrency.
As everyone knows you should never store your cryptocurrency on an exchange or custodial wallet, but rather in a wallet that you control the private keys for.
The Ledger Nano S is one of the latest “next generation” hardware wallets on offer by the French company, Ledger. It is also the best combination of security and ease of use for storing your cryptocurrency securely.
6 Ways to enter the Ledger Nano S Competition
LEDGER Crypto Wallet Giveaway | December 2018

How To Enter the Ledger Giveaway for December 2018
There are 6 different ways to enter the crypto wallet giveaway. Firstly you can simply enter using the entry widget in this post and get as many extra entries as you like. Remember to share your affiliate link and tag us on social media, or else you can not be eligible!
You MUST share your affiliate link and tag us in the post for your entry to be considered.

Especially relevant is to find your affiliate code here: https://ice3x.com/account/affiliates
Tag us on social media when you share your affiliate link using: @ICE3X
Like the iCE3X Facebook page https://www.facebook.com/ICE3X

Example of a post:
Trade cryptocurrency in #SouthAfrica with me on @ICE3X exchange here https://ice3x.com?ref=14335229 Cryptocurrency: #ADA #BTC #BCH #ETH #LTC #DASH #ZEC  #DOGE #XMR
If you use the above example, please also remember to change the affiliate link, to your link on the exchange which you can also find here https://ice3x.com/account/affiliates. Learn more about the affiliate program and the commission structure on the exchange here: https://ice3x.co.za/affiliate/
Congratulations to the Winners of the November 2018 Competition:
Our lucky 1st prize winner for the November 2018 giveaway is Werner Friesenbichler You can also see the list of TFDP winners below:

Rules for the Crypto Wallet GIVEAWAY

You can enter our Crypto Wallet GIVEAWAY as many times as you like. In fact, you should set a daily reminder 
Please share your affiliate link as a status update/comment. Furthermore, you have to tag us (@ICE3X) for your entry to be considered for the Ledger Giveaway December 2018.

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