Categories
Cryptocurrencies

Button wallet Review: How Safe The Telegram Messenger Linked wallet?

Button Wallet can be best described as a messenger-linked and multicurrency crypto vault. Unlike most other software wallets available in mobile and desktop apps or web extensions, Button Wallet is housed by the telegram app. It is more of an expertly crafted and feature-rich telegram bot created by ten highly experienced blockchain and programming experts who are currently based in San Francisco, California.

According to the Button Wallet development team, they set out to design an all-in-one platform that addresses all the challenges faced by the ordinary crypto wallet. And by integrating their system with the most popular app in the crypto circles, they hoped to leverage more than its large following (of approximately 200 million users). They were also looking for a platform that would help address the ease of use, speed, security, and customer support challenges rocking the crypto industry.

In this review, we analyze the Button Wallet and the steps taken by its developers towards achieving this enviable vision. We detail its key operational and security features, vet its ease of use, provide you with a step-by-step guide on how to use the Button Wallet, and list its pros and cons.

Button wallet key features

Telegram linked wallet: Button wallet is not a software of firmware but a telegram bot. It is embedded into the popular app implying that you first need to download the telegram app before using the crypto wallet-cum-exchange.

Cross-platform: Button wallet can be used on both mobile and desktop apps. The fact that it is a bot means that you don’t have to worry about finding the version of the app that is compatible with your phone or computer’s operating system.

Send to name: Button wallet has also made it possible for its users to send cryptos to a recipient’s user handle regardless of whether they have installed Button Wallet or not. This goes a long way in helping Button wallet users avoid the often-costly mistakes associated with getting the recipient’s wallet address wrong.

Inbuilt exchange: In addition to storing cryptocurrencies and tokens, Button wallet integrates Changelly – a crypto-to-crypto exchange services provider. This lets you buy or exchange cryptos and tokens with over 80,000 Button wallet peers and the crypto community at large.

Portfolio tracker: The button wallet bot features several tabs that let you track your crypto portfolio in real-time. These include the balance, token balance, and payment history tabs.

Automate notifications: Button wallet lets you automate most of the wallet functions and customize notifications that reflect on your phone’s display in real-time. Note that you can also automate notifications for exchange rates and transactions for your wallet.

Purchase crypto with card: You can also buy cryptocurrencies or tokens and pay virtually using any credit/debit card. To achieve this, Button Wallet has collaborated with Wyre and Moonpay – two fiat-to-crypto exchanges that process credit and debit card payments.

Develop Dapps: Button wallet recently collaborated with Ethereum Classic Labs – an accelerator program that funds innovative blockchain systems – to design and develop LightySig. This highly innovative project created a single programming library that is compatible with multiple blockchains. The project is best known for its ability to create a Dapp environment that allows blockchain technology experts to develop decentralized apps.

Button wallet security features

Password encryption: When creating a user account for the Button bot wallet, you will be asked to create a password that protects your digital assets and serves as the primary encryption tool.

Leverage Telegram security measures: Telegram is considered one of the most secure social messaging apps. Communications between users are highly encrypted, and it also claims to be free of any government influence or censorship – two factors that make it a darling for most crypto investors. Button wallet seeks to take advantage of all these security and privacy measures put in place by Telegram.

Non-custodial + QR code: Button wallet is a non-custodial wallet that doesn’t store your private keys in Button company or Telegram servers. Additionally, unlike most other hardware and software wallets that provide you with seed for backing up and recovering your digital assets, Button wallet provides you with a QR code.

Integrate Telegram Passport: When interacting with Button wallet services like buying a card that requires KYC/AML verification, Button accepts the identification documents that have been verified by Telegram Passport.

How to set and activate the Button wallet

Step 1: Start by searching for Button Wallet bot in your Telegram app. Alternatively, open the Button wallet website and click the “Use Telegram” icon on the site’s homepage.

Step 2: Click Start

Step 3: Chose the preferred bot language.

Step 4: Since you are just starting, tap on the ‘Create account.’

Step 5: The wallet will now direct you to the account creation page of the Button website. It asks for your email and asks you to create a password.

Step 6: Agree to the terms and conditions and terms of use and click confirm

Step 7: The website will send you a QR code and also present you with the downloadable version of your QR code

Step 8: The bot wallets is now active and ready for use

How to add/receive crypto into your Button wallet

Step 1: Log in to telegram and open the Button wallet channel

Step 2: Click on the “Deposit” icon.

Step 3: Select the coin you wish to deposit

Step 4: Copy the wallet address provided and forward it to the individual or exchange sending you coins

Alternatively:

Step 1: Log in to your Telegram channel and open the Button wallet channel.

Step 2: Click on the “Buy Cryptocurrency” tab.

Step 3: Select the Currency or token you wish to buy and click on the ‘Buy’ tab.

Step 4: It will redirect you to the MoonPay exchange that is integrated into your website.

Step 5: Follow the prompts to complete the transaction.

How to send crypto from your Button wallet

Step 1: Log in to your Telegram and open the Button Wallet bot channel

Step 2: Select the currency you wish to send

Step 3: Enter the number of coins to send

Step 4: Enter the receiver’s wallet address or their Telegram username.

Step 5: Confirm that the transaction details are okay and send

Button wallet ease of use

Button wallet is one of the easiest to use and most beginner-friendly crypto storage vaults we have come across. There is no onboarding process as you only need to search for Button Wallet bot in Telegram and create a password on their website via the redirect link. Buying, receiving, and sending cryptos in and out of the wallet is very straightforward and requires no previous experience.

Button wallet supported currencies and countries.

Button wallet bot currently supports seven major cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dai, Stellar, Waves) and 800+ ERC-20 tokens.

It is also available in 200+ countries and territories.

Button wallet cost and fees

Using and storing your cryptos in a Button wallet is free. You only have to pay the variable transaction fee charged by the crypto exchange or the blockchain network fee charged by miners and administrators when you send cryptos from one wallet to another.

Button wallet customer support

To access support, click on the three bars at the Button wallet channel’s top-right corner and select help. This will direct you to the bot support channel where the technical support bot will address simple challenges while complicated challenges will be forwarded to the wallet developers.

What are the pros and cons of using the Button Wallet?

Pros:

  • Button operates in the ultra-safe environment created by Telegram.
  • The wallet is easy to use and beginner-friendly.
  • It doesn’t require you to download another app or software.
  • Button wallet simplifies the process of backing your private keys by providing you with a QR Code in place of a recovery seed.
  • It has one of the most responsive customer support team.

Cons:

  • It is not immune to threats facing hot wallets.
  • The wallet will only support a limited number of cryptocurrencies.

Comparing Button wallet with other multicurrency wallets

Button wallet vs. eToro

Button Wallet and eToro are similar – they are both hot wallets. They are multicurrency wallets that support a limited number of coins and are also considered safe.

But unlike eToro that stores cryptocurrencies on behalf of its clients and maintain its own crypto exchange, Button wallet is a non-custodial crypto vault that integrates third-party crypto to crypto and fiat to crypto exchanges.

Verdict: Is Button Wallet bot safe?

Well, it has the backing of the safest social messaging app. Further, the telegram app is tied to your phone and requires two-factor authentication when logging in to another device. You also get to create a password when creating a user account. Our reservations with the wallet relying heavily on Telegram security features is that the app isn’t immune to hacks and such other threats as malicious viruses. Plus, the two-factor authentication only applies to Telegram when signing in, not when sending cryptocurrencies from the wallet.

Categories
Crypto Daily Topic

12 Most Popular Telegram Channels for Crypto Trends, Investing, and Trading 

Crypto subjects are not for the faint of heart. They’re sometimes highly technical by nature, and with the unpredictable prices of the crypto market, it can be harder to keep up with what’s going on. Of course, when it comes to crypto trading, every latest piece of news of your favorite crypto is important. This is true for the traditional stock market, but even more so for the crypto market, which is affected by the smallest events.

One of the best places to keep on top of things is Telegram. The Durov brothers’ end-to-end encrypted platform has 400 million+ active monthly users and has become a crypto community favorite, with discussions on any and everything, from trading and investment tips to market behavior, to industry news, to memes and everything in between.

It would be ideal if all Telegram crypto channels were worth their salt. Unfortunately, you’re more bound to come across a Telegram channel full of inane content and even spam. That doesn’t mean all Telegram channels are like that.

We combed the internet to bring you the top telegram channels that are worth your time and attention.

1. UK Crypto 

Though it currently only has 1632 members, UK crypto focuses on quality over quantity, with a regular mix of educational content, trading insights, and the latest trends.

If you would like to learn how to expertly employ technical and fundamental analysis in your crypto trading, then UK crypto is your go-to telegram channel.

2. Cointrendz

If swing trading is more your jam, then you’ll be at home with Cointrendz. In the channel, you will receive a regular stream of updates on which cryptos are going bullish. If you are one for monitoring volume trends and taking what’s on the top, then Cointrendz has you covered.

Cointrendz currently has 5,951 members.

3. Trading Signals for Free

A trading signal is an indicator to buy or sell. A signal could indicate that a resistance or support level has been broken, that the volume for a cryptocurrency is on an uptrend, a new pattern is emerging, and so on.

With 578 members, Trading Signals for Free is a Telegram channel that provides reliable crypto trading signals, unlike other channels that claim to do so but, in actuality, are pump-and-dump schemes.

4. CoinMarketCap

CoinMarketCap has established itself as one of the best platforms for checking crypto prices, circulating volume, market position, chart history, and so on.

And Telegram users can find the website’s channel, providing them with a supply of the current statistics of the top 10 cryptocurrencies, including price changes, market cap, 24-hour volume, price history of the last seven days and so on.

5. Whale Club Bitcoin Traders 

Wait, a group for whales?! Not so fast. If that were the case, everybody would troop there to get the insider whale strategy. Whale Club Bitcoin Traders is a regular crypto channel with occasional tips on trading and analysis of what’s going to happen in the crypto market. 1, 714 people have subscribed to the channel currently.

6. ETH Trader

Unlike other crypto telegram channel groups, ETH Trader is a channel where Ethereum traders can receive regular updates on what’s happening with their fave crypto. Both novice and experienced traders can learn something every day from this channel. The channel has 4, 765 subscribers.

7. AirDropAlert

A cryptocurrency airdrop is an event where developers of a new currency distribute free coins to existing wallet addresses to promote its awareness and inspire/reward loyalty.

As people receive the tokens, they talk about it on social media and other forums, helping it gain traction. You can find info on upcoming airdrops in many places, including websites, Twitter, Facebook, and crypto forums.

However, if you like to stay updated on upcoming airdrops (who doesn’t?) and prefer Telegram, you need to join the AirDropAlert channel. Presently, the channel has 4, 560 members.

8. Crypto News

Crypto News may have only 335 members, but that small number has no bearing on the quality of the content that you will find on the channel. In fact, fewer members on a Telegram channel makes the platform more organized and manageable, improving the overall experience. On the other hand, a massive Telegram channel can feel cluttered and confusing just for the sheer amount of messages.

Crypto News is a telegram channel that provides a steady stream of news on the most relevant happenings in the crypto space. Members can share their insights and perspectives on these events.

9. ICO Countdown

Initial coin offerings (ICOs) are the cryptocurrency industry’s equivalent of IPOs. Through ICOs, upcoming crypto projects can raise money in order to fund their vision.

ICOs are another way through which to secure new tokens, and they are massively popular in the community. In the first half of 2019 alone, ICOs had raised a total of $1.97 billion. If you want to be in the know about upcoming ICOs, ICO Countdown is a great platform to join. The group has 5, 628 members.

10. Venture Coinist 

Venture Coinist is run by crypto Twitter influencer Luke Martin, who is one of the leading voices in crypto trading technical analysis. If you find thrill in technical analysis charts and spotting potential market entry points through them, then Venture Coinist is your go-to channel.

Martin breaks down the most popular altcoins but dedicates much of his time and effort to the top 10 cryptos by market cap. There is also a decent amount of educational content, including old charts. Through this, you can identify price patterns and see what triggered what event.

The channel currently has 3, 366 members.

11. Cointelegraph

Cointelegraph is the official Telegram channel by the crypto website Cointelegraph. The channel currently has 66, 127 members.

While the numbers seem daunting to keep up with, there are a few advantages to huge telegram channels. First, you are guaranteed to always find people online to chat with. Second, every single piece of information will always be taken apart and analyzed to the bone. It’s also hard for such an enormous number of people to fall victim to fake news, which is uber-common in crypto.

On the Cointelegraph channel, you will find the latest and most relevant crypto news, research on the newest and hottest trends, and market data and analysis.

12. The Crypto Room

The Crypto Room is a Telegram channel where you can interact with other members and interpret the goings-on in the crypto space. What you get is focused on discussions that are backed with evidence and are easy to follow.

The channel currently has 2, 057members.

Categories
Crypto Guides

What Is An ICO and What Were The Biggest ICOs Ever?

Introduction

We have discussed many things cryptocurrencies in our recent guides, which talk about their evolution, properties, pros & cons, etc. We also learned a lot about Bitcoin and some of the other major altcoins. As of Feb 2020, more than five thousand cryptos are prevailing in the market. Have you ever wondered how these cryptos come into existence? The answer to this question is ICO. To understand what ICO, AKA, Initial Coin Offering

Irrespective of its size, every company needs sufficient funds to bring an idea to a reality. In the case of conventional companies, there is a concept known as IPO, which translates to Initial Public Offering. Here, a company would go public after they establish their brand name in the market. ‘Going public’ essentially means selling a part of their company to raise more funds and expand its business across the markets to gain more profits.

What Is An ICO?

Like how IPO is for traditional companies, ICO is for the companies who are willing to raise funds to build a cryptocurrency. There might be various agendas for crypto companies, which we will be discussing in the later parts of this article. But not every random crypto company can have an ICO and raise funds. Companies must make their whitepaper public that has all the technicalities of the coin they are going to launch. They must also mention the amount of money they are willing to raise through this ICO.  Along with this, the complete business plan and the acceptable Fiat or Cryptos should also be clearly mentioned.

Once they release the duration of the ICO, interested people can go through the whitepaper of that company and understand the problem they are willing to solve. If that is making sense, and all the other technicalities interest them, they can participate in the ICO by purchasing tokens of that company. Most of the companies accept both Bitcoin and Ethereum to purchase their tokens. The ultimate goal here is to bet on a company that has enormous growth potential in the cryptocurrency space. If that happens, the money they have invested here can have exponential growth and yield huge profits in the future.

If the funds that are raised meets the goal set by the company, the ICO can be considered to be successful. The companies can use these funds and bring their whitepaper to an actual cryptocurrency. But, if the funds raised don’t meet the goal, we can say that the ICO is a failed attempt, and the collected funds will be returned to the investors. Returning the collected funds is a seamless process because all of these transactions are executed through Smart Contracts. So the entire process of an ICO is decentralized and is not regulated by any central authority.

Notable ICO Success Stories

In the year 2013, the first-ever ICO took place where Mastercoin raised around 500k worth of Bitcoin. Then, the ICO of Ethereum took place, which changed the face of the crypto world forever. Without this particular ICO, the crypto world wouldn’t have been the way we are seeing it today. This record-breaking ICO took place in 2014, where the company has raised $18 million worth of funds. This ICO’s massive success enabled the amazing Ethereum platform to transform from an idea on a paper to reality.

Once the Ethereum platform was live with the revolutionary smart contract feature, ICO token sales have been extremely simplified. This resulted in the formation of some of the biggest ICOs to date. One such ICO which is conducted on the Ethereum platform is DAO. If you are a crypto enthusiast, you must have heard about this crypto. DAO has raised about $150 million worth of Ether in just four weeks.

Some of the biggest ICOs we have ever witnessed include EOS ($4 Billion), Telegram ($1.7 Billion), Dragon Coin ($320 Million) & Huobi ($320 Million). Most of the biggest ICOs like the ones mentioned above, happened in 2017-18. This is considered as a golden age of ICOs. The number of ICOs has reduced significantly, and there could be many reasons for that. Some of them include the fall of the crypto market, regulations from the US Securities Exchange Commission, frauds and scams occurred, etc.

Bottom Line

That’s about ICOs and some of the biggest ICOs ever to take place. We must be extremely cautious while participating in an ICO. Getting to know the founders well, analyzing the whitepaper, understanding the feasibility of the project, etc. is crucial before making your investments. Market experts believe that the ICOs are almost dead, but there are a few promising ICOs that are going to take place in 2020, and most of them can be found here. In the upcoming articles, let’s understand what IEOs and STOs are and how different are from ICOs. Cheers!  

Categories
Crypto Daily Topic

The Mess That is Telegram’s $1.7 Billion Token Sale

The unexpected growth and ultimate dominance of messaging apps in the tech world – prime examples being WhatsApp, Facebook messenger, Viber, Telegram, and WeChat – has been phenomenal. Everyone who bought into the craze early enough will probably retire richer than they ever imagined.

Combine this staggering success with the emergence of blockchain technology, in particular, cryptocurrency, and you have a combination that no investment expert will advise against. If you doubt it, ask yourself why Facebook is so adamantly pursuing the Libra – or why a simple search for messaging brings up crypto as a related search.

Considering how privacy-focused the world of crypto is, and seeing how fast the crypto industry is evolving to revolutionize every other industry, it was only a matter of time before it catches up with messaging. This is where Telegram’s messaging app rules.

Telegram may not be the top messaging app in the world by number of users, but it ranks highly. This is largely because of its speed and history of focus on user security and privacy. The app’s enhanced privacy protection is one of the top reasons why it has grown from obscurity to having over 200 million active users in just over five years.

It is an open secret that Telegram enjoys fanatic following and loyalty in the crypto world, and it is for this reason that the company was able to raise over $1.7 billion from private token sales as it prepared to launch its ICO.

Telegram Open Network’s breakthrough private sales

Telegram’s most recent and most controversial endeavor has been the launch of its own token, the Gram or Telegram Open Network (TON). The third-generation blockchain token that promised ‘superior capabilities’ was an instant hit, with demand hitting the roof even before it was official. Telegram’s founder, Pavel Durov, launched the ambitious TON project as a future payment option that would be used outside the global regulatory system, a lot like Facebook’s Libra would have.

TON was supposed to have a record-breaking ICO that would see them develop a blockchain-based one-of-a-kind decentralized messaging internet. In an industry with over 2.5 billion users already and projected to have about 3 billion by the end of 2022, their idea for a new communication platform that is independent from traditional bottlenecks and detractors was grand.

The tightly controlled process the company used to raise funds ended in disarray as its earliest backers sold their tokens too early, earning good profits in the process. While the company initially aimed to raise $1.2 billion through invite-only private sales and public offerings, it extended its target to $1.7 billion, which it raised from private backers before the public sale was canceled altogether.

The trouble with SEC

There is a universal disdain from governments and regulatory bodies for companies and technologies that are outside their reach. This explains why Telegram is always under scrutiny, and unnecessary controversies world over. Shortly after the company raised the funds it needed to bankroll the TON, the United States Securities and Exchange Commission (SEC) abruptly declared that the token offering was illegal.

Telegram had raised the entire $1.7 billion by selling the tokens to qualified investors in two rounds. The company had submitted a Form D, required when selling securities without registering with the SEC, back in February 2018. However, SEC found fault in the process in that qualified buyers of Gram tokens resold their assets in violation of the Form D exemption.

The regulator quickly obtained a court order to stop Telegram from distributing the Gram and outlawing trading in it in the United States. Hearing for the case is scheduled for February 2020.

What does this mean for the buyers, the public with interest in the Gram, and, more importantly, for Telegram?

While the SEC has the authority to stop the sale of Telegram’s tokens in the US, there is little it can do to prevent it from being traded openly in the international market. The whole point of Telegram launching its own token was to beat such regulatory bottlenecks and launch a genuinely open asset that the entire world can use with minimal interference from the bureaucrats. However, the influence of the SEC should not be underestimated, considering how early in its stages of conception, the Gram is.

The move by the SEC has had multiple adverse effects on the investors of TON:

☑️ First, they have been forced to choose between making a guaranteed 23% loss on their investment on the token, or sitting tight and waiting (hoping for) the token’s official launch in April 2020.

☑️ Public investors who bought the TON at $4 will be under pressure to sell it off along with the first and second round private investors who bought it at $0.37 and $1.37, respectively.

☑️ The move by the SEC may have set a precedent that will deter the Gram, or any other such blockchain tokens, from ever successfully raising funds in the US.

Why does the Gram stand out?

There are thousands of crypto tokens in use and being traded in the US today. Despite the TON being launched by a popular messaging company with a strong foundation, what makes it so unique as to attract the wrath of SEC?

In our view, Telegram’s token has three major strengths that makes it stand out:

☑️ Telegram’s TON promises lightning transaction speed – the kind that no other blockchain platform is capable of. It is estimated that TON’s third-generation blockchain platform will be capable of executing over 10,000 transactions every second, a speed which even Ethereum is not capable of.

☑️ Great infrastructure: Telegram promises to deploy massive storage and processing power to the decentralization of TON’s files. The already-popular messenger app will be an added advantage for quick and easier user onboarding.

☑️ The platform is already popular and trusted. Telegram already has over 200,000 loyal and informed users and a brand that sells itself. The Gram does not need to start from scratch, and neither does it have a baggage of distrust like Facebook’s Libra.

There is a vast potential for growth and prosperity of the Gram, despite the mess with the SEC. Early investors have proven that the company has the backing of the crypto world, and the company has shown that it has the tech to deliver on its promises. It is unclear what the way forward is for the Gram, but for now, we just wait.