The Blockchain Wallet is a mysterious item now in our lives. Just beam me up Scotty and we can discuss it together! The Blockchain wallet is part of a new database tied into the Cryptocurrency exchange. Your cryptocurrency is exchanged, utilized or redeemed in Scotty’s world of a virtual environment. We have now entered the future with our data world. But, to be simple, the blockchain wallet is a secure way to store your cryptocurrency and move your currency around and to receive currency. There needs to be a place for your currency to reside, and this is it. Have complete control over your funds and be able to move them easily as well.
INTRODUCTION TO COINBASE
There are several wallets out there but we use the blockchain wallet with COINBASE. This is a great platform to upload FIAT or CASH into cryptocurrency. We suggest setting up with Coinbase and have it ready for use even if you don’t plan on it now. Have some fun doing research on this subject and go from there. Coinbase sends out emails on a regular basis to keep you up to date on what the value of the currency is along with some information on current trends.
There is now the ability to ‘Stake’ your coins through Coinbase. When you Stake your coins you are holding them and not selling or transferring them. The “Staked ” coin holds its value during the time it is staked. Agreeing to stake them will get you an Annual Percentage Yield (APY), similar to a Bond or C.D. hold your coins while you earn interest. When it comes to investments there is always risk, and that is what “Staking” is. Our community supports Coinbase and encourages our members to sign up with them. If I am paid in the future with cryptocurrency, then I have an account up and running. If I choose to invest now then I can with the Coinbase platform. Freedom is a good word to describe this system.
This is from the Coinbase Website:
About Coinbase-
They are continuing to build a crypto economy – a more fair, efficient, accessible, and transparent financial system enabled by the new world of crypto. They started in 2012 with the futuristic idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Now they have a trusted platform that is easy to maneuver around for the crypto economy.
Commitment to Compliance
Compliance is the key to make crypto and its platform trustworthy. This is critical for Coinbase to be a company to highly trust for its customers. The compliance creates the best of current traditional finance structures in place. Coinbase adheres to the regulatory requirements in all of their jurisdictions that they operate in. Their goal is to have a safe environment for the crypto world they are actively participating in.
Betsy’s Conclusion:
Look into Coinbase and do your research. Do lots of research in the cryptocurrency world, and when you think you have the knowledge you need, then do more research again. There are some real disadvantages to this realm, and one is returning funds once they are out in the system. The tracking on this crypto-world is not the same as the current banking system. My understanding is that getting funds-cryptocurrency returned after sending to another location is difficult at times to get back. Of course, this isn’t always easy in our current banking system. A great benefit is that the cryptocurrency value is liquid and changing like the stock market. There might be great gains to be made!
The positive side is learning how your blockchain wallet works and becoming very skilled. Coinbase is a great partner to work with. Check out the programs they have to offer. Articles are available to meet your areas of need. They have an area for getting started. There is a section with Tips and Tutorials, and help by Topics. Learn how to trade, and the funding involved as well as security and privacy information. There basically is a vast amount of information and support on their site that you just need to spend some time with. Know this is a Great company to work with and establish your trading skills with. To really have a great beginning, read about what Crypto is!