Adding an ERC Token (namely the TrustSwap token “SWAP”) to the BlockBanc Wallet is fairly simple and straightforward. Let’s go through the steps in detail.
Log into the BlockBanc app and tap on “Wallet.”
You will see a list of available coins here. Swipe to your left on the blue box (marked in red).
You will come across this screen. Tap on the + button to add your token.
Tap on the dropdown arrow near the “Not Listed” option as marked in the red box.
Choose the token from the list to add. For the sake of our example, we are choosing TrustSwap.
Tap on “Add.”
Your token is added to the wallet.
So that’s basically it. Don’t forget to join our Telegram channel “BlockBanc Official” to be a part of the community. If you haven’t downloaded the BlockBanc app already, you can do so here.
Refer to our other BlockBanc tutorials
You can also refer to the short presentation here to know how to add the TrustSwap Token “SWAP” to the BlockBanc Wallet.
Buy gift cards with crypto to your favorite fashion brands, restaurants, etc. on the app. Have them delivered right into your email.
Here’s how you do it.
Log into the BlockBanc app and tap onto “Gift Cards.”
Choose your country name from the drop-down and select your gift-card for purchase. You can even filter your gift cards on the basis of the options you are searching for like entertainment, gaming, Clothing and Accessories, etc.” Or you can just search your brands directly from the “search” column.
Once you have selected your brand, input the amount of gift card from the drop-down menu or pick a custom amount. Tap on “Purchase.”
Enter your e-mail address for the receipt of the purchase.
Select the payment method from the list of crypto.
Transfer the required funds by tapping on the “Send” button and that’s basically it!
How much time does it take for the delivery of Gift Card once the payment is completed from your end?
Due to the amount of transactions waiting to be processed on the blockchain network your cryptocurrency uses, it can take some time to validate your transaction. Based on your choice of cryptocurrency, this can take as little as a few seconds to up to 24 hours.
In case of any issues, get in touch with us directly and we will be more than happy to guide you further.
Refer to our other BlockBanc tutorials
If you haven’t downloaded the BlockBanc app already, you can do so here.
Cryptocurrencies along with their underlying technology, Blockchain gained a lot of momentum in the last few years.
While many are still figuring out ways to create the perfect Blockchain wallet and the cryptocurrency that is going to become the world’s single currency, others are focusing on choosing the right wallet for storing their crypto assets: custodial vs. non-custodial wallets .
But which one is the best among the two? Let’s see.
Custodial Crypto Wallets
A custodial crypto wallet is defined as a wallet in which the private keys are held by a third party. This means that the third party has full control over your funds while you only have their permission to send or receive payments.
Here’s how it works:
X (a third party) asks Y (user) to transfer their funds to a particular address / place, but X does not receive any private key to that storage address. The funding is managed entirely by the 3rd party, binding users with a condition that s/he cannot carry out transactions without their involvement.
- Control of your funds
The biggest problem with custodial wallet services is that you exercise no control over your wallet.
The third party has total control of your funds. They have the right to take actions on your funds, including freezing your wallet.
- Need for KYC
Another drawback of the introduction of the Custodial wallet is that this type of wallet strictly recommends KYC (Know Your Customer) verification. You cannot access your funds or any of the associated services without identify verification.
This completely undermines the fundamental principle of crypto – Anonymity.
- Data hacking
In the case of crypto exchanges, a major amount of funds is stored in hot and cold wallets. While these wallets may not be an easy target for hackers in 2020, they are still vulnerable to security breaches.
The biggest example is the fall of Mt. Gox, the famous Japanese crypto exchange, in 2014.
- No offline functionality
Finally, internet connectivity is essential to connect to Custodial wallets or to carry out any transaction.
Non-custodial Crypto Wallets
A simple explanation to what a non-custodial wallet is that it allows you to be your own bank. This implies that you have full control over your funds and its associated services.
Non-custodial crypto wallets offer many advantages. Here, let’s see:
- The user gets full control over their funds
The main reason why non-custodial wallets are gaining huge momentum is because they offer users total control over their funds. Users do not need to turn to a third party to manage their funding or perform any related activity.
- Funding security
Since the details of your non-custodial crypto wallet along with its funds are in your control, the risk of data breach is much lower.
- Instant withdrawals
Unlike custodial crypto wallet services, these wallets do not require confirmation from a third party to complete each transaction. This streamlines the entire process and facilitates instant withdrawals.
Regarding the drawbacks of non-custodial portfolios, nothing major can be emphasized.
Losing the private key may cause the user to lose access to their wallet, but now certain non-custodial wallets like BlockBanc have come up with features like “wallet backup and restore” which can help a lot in case of a loss in device, private key, or device malfunctioning.
A final word
It’s safe to say that non-custodial wallets are definitely the better option of the two for storing your cryptocurrencies. YOU and ONLY YOU have access to your Assets!
The BlockBanc app is a non-custodial wallet that supports simple backup and restore function along with secured fingerprint recognition and PIN unlocking technology. You can download the app here.
And, as always, DO NOT keep your cryptocurrency on the exchange. Better be safe than sorry!
A backup of your crypto wallets ensure that your assets stay protected in case of a software or hardware failure. It may also help you retrieve your assets in case your device gets lost or stolen.
The wallet on the BlockBanc app comes with a simple backup feature that you can use easily to backup as well as restore your assets. Here’s how you can do it.
Backing up your Wallet
1. Log into the BlockBanc app.
2. Go to the “Gear” symbol on the top right of your screen.
3. Tap on “Backup.”
4. Save the file on your device at the location of your choice. A copy of the file would also be emailed to you on your registered e-mail ID.
5. That’s it! The app will let you know of the file name, which in this case is “aibbwallet_20200613_1753” that has been backed up. Backup successful!
Restoring Your Wallet
1. Go to the dashboard of the app and tap the “Gear” icon on the top right corner of your screen.
2. Tap on “Restore.”
3. Locate the backup file on your device which in our case is “aibbwallet_20200613_1753” and tap on it.
In case you have forgotten the location of the backup file on your device, remember, a copy of the file is sent to you previously on your registered mail. You can download it from there on to your device.
4. Enter the pin for your restored file. This is your log in pin for the app.
5. That’s it. Your restoration is successful. Log into the app again to gain access to your restored assets.
To sum up, we would urge you to backup your wallet from time to time on the BlockBanc app just to be on the safe side. It’s easy and can be restored in seconds.
And if you haven’t downloaded the BlockBanc app already, you can do so here. With features like PIN lock, fingerprint recognition, wallet backup and email verification – ASSET SAFETY IS OUR PRIORITY.
Also, refer to the presentation below to quickly glance at the steps required to backup and restore your crypto wallet on the BlockBanc app.
Bitcoin is a mainstream cryptocurrency, but the biggest obstacle is letting users buy Bitcoin securely with a debit card.
Most Bitcoin exchanges accept many payment options, except for credit/debit cards. The process to fund crypto is to wire transfer (3-5 business days), e-transfer (instant usually) or use a credit card to send your money to a 3rd party broker or a crypto institute. We aim to solve this problem by partnering with various exchanges and convert FIAT to crypto on the application easier and faster than ever before.
Here is how you can buy bitcoins on the BlockBanc app in a few simple steps.
Download the BlockBanc app and log in to the application.
You will find the Buy Crypto application right on the home screen. Tap on it.
Enter the type of crypto you want to purchase ( BTC or ETH, etc.) along with the amount in FIAT currency (USD).
Review carefully on the next page. Remember, the payment cannot be cancelled once it is processed on the user end. Tap on “Pay With Debit Card” once you have reviewed the page.
Fill in a few primary details and tap on “Continue to Payment.” You will be redirected to the payment processor next to collect card details and complete the payment.
That’s it! Once the payment is processed the BTC will show up in your wallet almost instantly.
Also, always remember
Never keep your bitcoins on the exchange. The only safe place for storing your bitcoins is a non-custodial wallet. With features like PIN lock, fingerprint recognition, wallet backup and email verification – TOTAL SAFETY is guaranteed on the BlockBanc app! Download the app NOW and store your bitcoins in it for complete peace of mind!
BlockBanc is a multi-protocol utility wallet that combines the power of decentralized and centralized technology in a simple & secure mobile application. This all-in-one application houses the tools and resources you require to enrich your knowledge about cryptocurrencies and become a successful crypto trader.
In this presentation, we will go through the three simple steps by which you can use the BlockBanc app to learn everything about cryptocurrency on a single page.
As you all ought to know by now, BlockBanc (formerly known as AiBB) is an all-in-one crypto application that houses all the tools and resources you need to enrich your knowledge about crypto, store crypto safely, buy gift cards, and earn crypto simply by watching videos. The application is designed to help people LEARN, INVEST, STORE, & GROW their assets wisely.
But then, how well do you know about our features? Here, let’s take a quick look at all of them in the infographic below.
Now, all these features are just the tip of the iceberg. We are always striving to make our app safe and updated with more and more features coming soon. So, stay tuned for now.
Meanwhile, if you had not downloaded our app, you can do so here. Also, don’t forget to share this infographic with your friends or family if you really had an excellent experience on the app. Ciao!
Bitcoin will be halved sometime this month. What is Bitcoin halving, how will it affect the market, and what does this mean for the long-term prospects of miners and cryptocurrencies? Here’s everything you need to know about this key event.
Bitcoin Halving – A Brief Overview
The word “halving” might resemble a horror flick – something about a serial killer. But it’s actually a nickname for one of the most anticipated events in the history of Bitcoin.
At some point in this month (May), every 10 minutes the number of bitcoins (BTC) entering the circulation (AKA block rewards) will drop by half, from 12.5 to 6.25. This is a milestone that happens every four years and has happened twice before.
The potential creation of wealth is what is drawing so much attention to the upcoming event, which is usually held in half. The supply in the system will suddenly decrease, but theoretically, the demand will remain the same, possibly raising the price of the cryptocurrency.
As such, the event has sparked an enthusiastic debate about Bitcoin price forecasts and how the market will react.
Will this even increase the price of Bitcoin?
This has been the subject of a heated debate.
If we go by the previous cases of BTC reductions, token prices have risen. For example, in 2012, Bitcoin rose about 8,000% in 12 months after spending on rewards and rose again by almost 1,000% after cutting in 2016.
On the other hand, sceptics against it. The second BTC halving occurred at a time when Bitcoin was already gaining mainstream recognition and was matched with early currency offerings, many of which had to be bought with Bitcoin.
Paul Donovan, the chief economist of UBS Global Wealth Management, has said anyone who is familiar with the structure of Bitcoin will be aware of its halving, but potential “innocent” investors who aren’t maybe persuaded to buy tokens because the half is happening.
But then, Canaccord Genuity analysts, also claim that BTC halving may have a meaningful psychological component and could continue to have an impact on the price of bitcoin.
Will the miners be affected?
Bitcoin requires a lot of energy to mine, both to perform the calculations involved and to cool the computers that perform them.
BTC mining can cost you anywhere between $3,500 to $6,500 depending on equipment cost, electricity, and the place of storage of the hardware.
Competition is also increasing among BTC miners, leaving several smaller participants out of business. 5 mining entities based in China now control half of the power of all computers on the Bitcoin network.
Is anything going to change if you are a BTC owner?
Any subsequent change in BTC price will either leave you richer or poorer, except that it will be impossible to know exactly how much has changed due to half of the direct change.
To sum up, we can say,
Halving will play a key role in preventing inflation by periodically slowing the pace of Bitcoin creation, so as not to outrun demand. Now, wait and see what the future holds for us.
An encouraging trend has attracted much less attention amidst the COVID-19 crisis. Having banned crypto in the past, or refused to acknowledge them as money, various countries have suddenly started recognizing them in their financial laws and courts. This could well mark an important shift for them towards the mainstream.
The below presentation throws more light on the matter.
Syscoin is a powerful platform that can help to put your business on the blockchain. It is a blockchain protocol accompanied by powerful core features allowing you to build fast, secure, low-cost applications with ease, with the security and strength of Bitcoin.
Know more about Syscoin in the detailed infographic below.
Know more about cryptocurrencies. Download the app now!