Month: March 2025

Known as the first cryptocurrency, Bitcoin has come a long way since its humble beginnings. This digital currency, which is not subject to centralised control, has gained huge acceptance as an investment product and an alternative to traditional monetary systems.

In 2008, cryptocurrencies came into existence when a mysterious person or group called Satoshi Nakamoto published a comprehensive paper called “Bitcoin: A Collaborative Digital Tender System”. The white paper introduced Bitcoin as an innovative and groundbreaking system that has so far completely changed the way we do things financially. This decentralised, blockchain-based system heralded a new era of unparalleled financial autonomy and independence.

“At Bintense, we have created a flawless cryptocurrency exchange where anyone can buy Bitcoin and benefit from BTC price fluctuations. We establish maximum transparency and security, as well as offering reliable customer service and competitive rates to cultivate an optimal ecosystem.

The early days of Bitcoin

In January 2009, Nakamoto mined the first block of the Bitcoin blockchain, called the Genesis Block. In its early stages, Bitcoin quickly attracted a passionate and dedicated community that recognised its extraordinary potential.

22 May 2010 Laszlo Hanyecz’s peculiar decision has left an indelible imprint on Bitcoin history. He made the unusual decision to exchange 10 000 bitcoins for two pizzas. At the time, Bitcoin was still in its infancy and the price of BTC hardly had any real significance. Few could have foreseen the profound impact it would eventually have on the history of bitcoins. In fact, this bold transaction carries enormous symbolic weight in cryptographic circles.

BTC price cycles

The history of the BTC price clearly shows the inherent volatility of cryptocurrencies and the resulting market fluctuations.

In 2013, Bitcoin experienced a remarkable moment when its value soared to unprecedented heights. Several factors, including its rapidly growing adoption rate and the global recognition of its potential, led to the price of BTC rising from a small pittance to well over $1 000. However, shortly afterwards, the early-stage cryptocurrency exchange MT Gox suffered a catastrophic failure when it misappropriated 744,000 bitcoins from users’ funds, causing the bitcoin market to collapse.

In mid-December 2017, the price of Bitcoin surpassed $19,000, which means that in twelve months it has grown by a remarkable 1338%. This extraordinary activity did not go unnoticed, as a growing number of retail traders eagerly took to Bitcoin, initiating a frenzy around the coin. The proliferation of altcoins also played a key role in fostering the development of the cryptocurrency ecosystem at the time.

In the years that followed, Bitcoin grew steadily, with significant advances in security, scalability and user experience. In 2021, it recorded an extraordinary leap, reaching an all-time record of $68,789 in November that year.

The changing landscape of Bitcoin

Bitcoin has faced many challenges along the way, but it has undoubtedly revolutionised finance and attracted the attention of global investors and government authorities.

With a decentralised system based on blockchain technology, Bitcoin has given individuals greater control over their financial affairs. As this digital gold continuously pushes the boundaries and gains more recognition, its journey demonstrates the power of innovation and the innumerable opportunities that cryptocurrencies offer.

The dynamic and volatile nature of bitcoins requires caution. Its value can change rapidly, resulting in significant gains or losses. Before investing, individuals should research and understand bitcoins and the bitcoin market, taking into account their risk tolerance and financial situation. It is recommended to seek professional advice and be aware of market trends. Cryptocurrency markets are unpredictable and responsible investment management is essential to minimise risk.

As a trusted exchange platform, Bintense understands the importance of the highest level of security when it comes to your cryptocurrencies. The dangers of technology and software can seem very intimidating, especially if you have no experience in buying cryptocurrencies, but there are some simple steps you can and should take to ensure that no one can access your tokens.

When exchanging cryptocurrencies online, it is important to ensure the safety of your coins by implementing robust wallet security measures. In this blog post, we will share our top tips on how to ensure the safety of your digital assets and minimise any risks associated with storing cryptocurrencies.

Choose a trusted wallet to exchange cryptocurrencies online

It is very important to have a cryptocurrency wallet where you can store your digital assets. We do not provide cryptocurrency custody services, only exchange services, so it is very important that you have a secure wallet ready before you make a transaction. There are different types of wallets, including hardware wallets, software wallets and mobile wallets. We recommend that you learn a little about each option so that you can choose the best one for you.

Choose your hardware wallets

For the highest level of security when exchanging cryptocurrencies online, use a hardware wallet. These physical devices store your private keys offline, protecting you from potential online threats. Hardware wallets, such as Ledger or Trezor, provide an extra layer of protection by isolating your keys from internet-connected devices, reducing the risk of hacking or theft.

Use software wallets with strong security features

If a hardware wallet is not feasible for you, choose a reliable software wallet. Look for wallets with robust security features such as encryption, two-factor authentication (2FA) and multi-signature support. We recommend wallets with a long track record and positive online reviews, so do some research before you choose.

Enable two-factor authentication (2FA)

When exchanging cryptocurrencies online, 2FA provides an extra layer of protection. By linking your wallet to an authentication app such as Google Authenticator or Authy, you create an extra step in the login process. This ensures that even if someone were to learn your password, they would still need physical access to your authenticator to get into the system.

Update your software and hardware

Regularly update your wallet’s software and firmware to ensure you have the latest security patches and bug fixes. Developers often release updates to fix vulnerabilities, so get in the habit of checking for and installing updates immediately. This helps protect your wallet from potential security threats.

Install strong passwords and backup

Use a combination of uppercase and lowercase letters, numbers and special characters to create your wallet password. Avoid using easily guessable information or common passwords. In addition, create a backup copy of your wallet recovery seed or private key and keep it in a safe place separate from your wallet. This backup ensures that even if you lose access to your wallet, you will be able to recover your funds.

Summary

In the digital age, it is crucial to ensure the security of your cryptocurrencies. When you exchange cryptocurrencies online with Bintense, don’t stop there. It is important to take proactive measures to protect your assets. By taking all of the above steps, as well as reading more material about hardware and software wallets, you will be able to better protect your digital assets without hassle.

A cryptocurrency is a “virtual” currency that operates without the intervention of centralised financial institutions. It can be used for purchases or as an investment. Some widely known cryptocurrencies are Bitcoin, Ethereum and Tether.

The term ‘cryptocurrency’ comes from its inherent system, whereby this currency system uses cryptographic techniques to ensure the secure buying and selling of digital tokens. In essence, cryptocurrency transactions are authenticated and documented on a ‘blockchain’ – an immutable digital ledger that tracks and records all broadcast transactions.

“At Bintense, we understand that interest in cryptocurrencies is growing, which is why we have created a secure and transparent cryptocurrency exchange system for all enthusiasts. Users can easily start buying cryptocurrencies and begin their digital currency journey with us through a quick registration procedure and a smooth verification process.

Understanding cryptocurrencies: how do they work?

If you want to start buying cryptocurrencies and get involved in this innovative field, here are some basic cryptocurrency concepts that you should know:

• The underlying technology of cryptocurrencies, i.e. the blockchain, is decentralised. Decentralisation means that there is no central authority, such as a governing body or financial institution. Cryptocurrency tokens are created, exchanged and tracked through a distributed peer-to-peer network.
• Cryptocurrency exists only in digital form, without any physical expression such as tangible banknotes or coins. It exists in the space of the internet. It is a virtual token whose value is largely determined by the market dynamics of those who buy or sell it.
• With a few exceptions, such as stablecoins, most cryptocurrencies are not pegged to real currencies, such as the US dollar, and are not backed by precious metals such as gold.
• As cryptocurrencies are supported by a blockchain that maintains a change-resistant record of transactions and ownership, the problem of duplication of holdings and double-spending is addressed.

The cryptocurrency ecosystem – key facts you need to know before buying cryptocurrencies

Technically, cryptocurrencies are created on the blockchain by several mechanisms, such as mining or construction. The most popular cryptocurrency, bitcoin, operates through mining, where miners use special computer equipment to perform the complex mathematical cryptographic tasks necessary to validate each transaction in the blockchain.

In contrast, in the case of a bet, participants, known as “stakers”, lock in a pre-determined amount of cryptocurrency tokens that can be considered as their bet. In return, they are given the opportunity to validate blockchain transactions and receive a reward.

In addition, while it is not necessary to know that cryptocurrencies have two types of keys (public and private), a basic knowledge of these concepts can be useful if you are planning to start buying cryptocurrencies. Think of a public key as the equivalent of an email address – it marks the ‘location’ of your wallet and makes it easier to send or receive cryptocurrencies from others.

On the other hand, a private key is a confidential and complex code that represents your personal access to cryptocurrency assets. By storing your private key, you preserve the ability to confirm ownership and use the funds associated with your public address. Giving anyone access to your private key would also give them control over any cryptocurrency associated with it. In a word, the security of your cryptocurrency is directly linked to the security of your private keys.

However, ordinary people may not need to go into such complexity and can easily buy or sell cryptocurrencies through online exchanges and platforms such as ours, Bintense. We believe that the world of finance is evolving rapidly, and the obvious way to stay ahead is to start buying cryptocurrencies and taking advantage of the new opportunities they offer.

As cryptocurrencies continue to gain widespread acceptance and adoption around the world, the need for regulation of this asset class increases. Different countries take different positions on this issue, with some advocating broad integration of cryptocurrencies and others strictly prohibiting cryptocurrency platforms.

“At Bintense, we use advanced technology and recognised security protocols to help our customers exchange digital coins efficiently. Our platform provides a seamless entry into the cryptocurrency markets, equipped with expert tools, support and a transparent fee structure.

But here is a bird’s eye view of the cryptocurrency regulatory situation in some well-known countries.

Canada

Canada considers cryptocurrency a security but does not recognise it as legal tender. In addition, cryptocurrencies are taxed in Canada regardless of whether they are classified as capital gains or business income.

For cryptocurrency exchanges, Canada applies similar rules to both digital currency exchanges and fiat money service businesses to ensure that they comply with the same due diligence and reporting standards. As of June 2021, all cryptocurrency exchanges in Canada must register with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada), which is responsible for monitoring financial transactions and operations in the country.

Recently, Canadian securities regulators, together with the Ontario Securities Commission, have been taking active action against unregulated cryptocurrency trading platforms against the backdrop of the dramatic collapse of FTX.

Earlier this year, cryptocurrency trading platforms were given a 30-day deadline to prove they met specific regulatory requirements to continue serving Canadian clients. If a trading platform fails to provide a formal “pre-enrolment undertaking” within the time limit confirming that it is complying with these rules, it will be obliged to close the accounts of its Canadian clients and prevent further access to its services by Canadian participants.

South Korea

Cryptocurrencies are not recognised as legal tender in South Korea, and while exchanges are legal, they are strictly controlled by the country’s regulatory system.

South Korea is stepping up its efforts to regulate the cryptocurrency market, with local media reporting that the country’s parliament is actively discussing the Digital Assets Act, which will affect anyone who wants to exchange digital coins.

The cryptocurrency market in South Korea is reported to have exceeded 55 trillion won in the second half of 2021, equivalent to around $42 billion, with around 15 million users. Given the size of the market and the number of users, the authorities consider it essential to put in place measures to protect cryptocurrency investors and ensure transparency.

Cryptocurrency legislation is currently under consideration by the Executive Committee of the National Assembly of South Korea, with expert opinions to be sought and public hearings scheduled for April 2023. After these initial stages, cryptocurrency legislation will be able to move forward.

India

Cryptocurrencies are not considered legal tender in India and are currently not regulated by any central authority when used as a form of payment. As a result, there are no established rules, regulations or guidelines for resolving disputes relating to cryptocurrency transactions. This makes the exchange of digital coins difficult as it is a potentially risky activity for Indian investors.

The Union Budget presented in India last year sought to address this problem by introducing new measures. The government announced that profits from cryptocurrencies would be subject to a tax of 30%, while 1% would be withheld at source.

Australia

Australia recognised the legality of cryptocurrencies as early as 2017 and has implemented progressive regulations in this area.

The country has also become an important hub for cryptocurrency ATMs, ranking fourth after the US, Canada and Spain, allowing its citizens to exchange digital coins safely.

This year, Australia’s financial regulators are continuing their efforts to develop a regulatory framework for stablecoins, building on work done in 2022. To this end, the government recently published a consultation paper on 3 February 2023, which examines areas of the cryptocurrency ecosystem that require further regulation.

Not so long ago, the idea of companies or institutions buying or selling cryptocurrencies could seem absurd. However, as digital assets continue to grow exponentially and become widely popular, more and more businesses are looking to ride the wave and get involved in this online cryptocurrency exchange arena.

“A Coinbase survey of institutional investors conducted in the last quarter of 2022 revealed that 58% respondents plan to increase their cryptocurrency purchases over the next three years. In addition, almost half of the respondents expressed a strong belief that the valuation of cryptocurrencies is likely to grow rapidly over time.

These survey results show that institutional institutions are increasingly optimistic about the future of cryptocurrencies.

In addition, according to cryptocurrency news portal Bitcoinist, institutions currently control almost 8% of the total bitcoin supply, i.e. more than 1.6 million. BTC.

These new trends underline the importance of corporate crypto accounts and the vital role they can play in connecting businesses to the digital currency space. At Bintense, we recognise the importance of these trends and provide state-of-the-art online cryptocurrency exchange accounts to our corporate clients. Our corporate account is easily accessible through a simplified verification process of just five easy steps.

Why opening a corporate cryptocurrency exchange account can benefit your business

Given the relatively recent and unique nature of cryptocurrencies, there remains a high probability that their value may increase over time. Monitoring cryptocurrencies can therefore be a useful business development strategy, especially if you have a long-term perspective.

Also, as a company, spreading the funds across multiple channels can be a wise move. By looking into cryptocurrencies, you can diversify your company’s portfolio, opening up new avenues for growth and financial opportunities.

In addition, cryptocurrencies can be a good choice for companies that prefer anonymity for their financial investments. In online cryptocurrency exchanges, data is recorded in public ledgers, but no one can identify who holds the keys to those addresses. This feature can provide an extra layer of protection for your business in the event of any potential data breach or theft.

Start of use of corporate cryptocurrency accounts

Typically, to set up a business cryptocurrency account, you need to provide additional documentation that is not required for personal accounts. These may include tax documents specific to the country in which the business operates, as well as information about the majority owners. In addition, in order to deposit funds, you may need to link the business bank account to the company crypto account.

At Bintense, we require that our business customers Our goal is to provide our members with an optimal experience by implementing a secure, seamless and convenient online cryptocurrency exchange system.

Cryptocurrencies can be attractive speculative assets, but there is another purpose. Many cryptocurrencies can be used to buy and sell things, depending on whether sellers and buyers accept these currencies. Below we will look at the most important cryptocurrencies that can be sold for this purpose. We have listed all of these digital assets and all of them can be bought and sold on our cryptocurrency exchange Bintense, because customer convenience is paramount to us.

Bitcoin

“Bitcoin is a decentralised digital currency that was created more than a decade ago and has since become very popular. It is a decentralised digital money that is not backed by any government or other central authority. Instead, it is created and controlled by a network of computers running a technology called blockchain. You can buy and sell bitcoins and use them to buy products and services.

Bitcoins can be used for transactions because they are considered a “virtual currency”. Every time a transaction is made, it is verified and added to the blockchain. This ensures that all Bitcoin transactions are secure and cannot be manipulated. Bitcoins have many uses. It can be used to buy, send money internationally, or even just exchanged today on any cryptocurrency exchange.

Ethereum

Ethereum is currently the second largest cryptocurrency platform by market capitalisation after Bitcoin. It was founded in 2014 by Vitalik Buterin. Ethereum uses its own blockchain, distributed ledger technology (DLT), which uses a consensus mechanism to allow participants to transfer and store assets securely without a central entity or intermediary.

“Ethereum is a great choice for anyone looking to buy and sell products and services online, as it offers a secure and transparent transaction platform. It also provides users with many benefits, including low transaction fees, fast and secure transactions and access to a wide range of products and services. In order to use Ethereum to buy and sell products, a user must create a wallet and then use Ethereum to pay for the goods. Buying cryptocurrency with Bintense can be done with a wide range of payment methods, such as credit cards, bank transfers, PayPal and others.

Conclusion

In addition to the above, there are a number of cryptocurrencies that we make available on our cryptocurrency exchange that can be used to buy and sell products. Each cryptocurrency has different characteristics, so reading more about them on our website will help you choose the best option.

The cryptocurrency business has grown dramatically in the last year, from $770 million to around $3 trillion, which raises the question of which cryptocurrency to buy in 2022.

Despite the global threat of the COVID-19 outbreak, memecoins such as Shiba Inu and Dogecoin enjoyed impressive growth last year.

While the biggest gains of last year are noteworthy, the growing cryptocurrency sector means that more developers launching more projects in 2022 could turn cryptocurrency investment on its head.

Dogecoin (DOGE)

In 2021, Elon Musk, Snoop Dogg, the Dallas Mavericks, Mark Cuban and others turned their attention to Dogecoin (DOGE).

In May, memecoin grew rapidly and Dogecoin accounted for almost 3 % of the total cryptocurrency market.

According to CoinMarketCap data, a January 2021 investment of USD 1 000 in DOGE had risen to USD 38 550 by September. The price of Dogecoin in 2022 currently stands at USD 0.14.

This coin received a lot of media attention after Musk announced that Tesla would accept $DOGE as payment for goods, resulting in a valuation increase of 20 %.

Terra (LUNA)

“Terra (LUNA) aims to create a number of stable coins linked to fiat currencies such as the US dollar, the euro and others.

Users can make quick trades and trade synthetic shares using the blockchain network.

The project is funded by a number of Asian e-commerce giants and aims to enable the spread of cryptocurrencies.

Last year, CoinMarketCap increased by 5071.23 %, which means that an investment of USD 1,000 in January to September would have increased to USD 50,712.

Evergrow Coin ($EGC)

“Evergrow Coin is a new cryptocurrency for-profit investor that debuted last September and has already outperformed many cryptocurrency projects in its first year.

Thanks to its unique features, including passive income generation, it quickly grew to more than 100,000 investors and exceeded a market value of USD 1 billion in 2021.

To date, it has provided more than USD 33 million in BUSD rewards, which are pegged to one USD and paid into the holder’s account each time a transaction is made.

In early 2022, a team of top (and doxxed) developers launched the NFT Marketplace, a play-to-earn game and a content creation platform.

When we store our cryptocurrencies, we want to ensure that they are completely safe. Which is the best of the two wallets to store cryptocurrency?

Cold wallets

Most hardware wallets are cold wallets that work on small to medium-sized USB sticks. Cold wallets include paper wallets, real bitcoins and a separate offline computer for storing cryptocurrencies.

In general, cold storage wallets are very safe. Stealing from a cold storage wallet often requires actual access to the wallet and any associated PINs or passwords that need to be used to access the cash.

Advantages of cold wallets

Hardware wallets are designed to be impregnable to hackers. Depending on the storage method, the money stored in a hardware wallet cannot be stolen, even if it is connected to a computer or linked via Bluetooth.

Hot wallets

Hot wallets include online wallets, mobile wallets and computer wallets. While all cryptocurrency hot wallets are vulnerable to online attacks, online wallets are the least secure of them all.

Large cryptocurrency users are unlikely to hold large amounts of cryptocurrencies in hot wallets. Although a mobile hot wallet is not the same as a classic analogue wallet, they do have one thing in common: it is usually a bad idea to carry a lot of money around with you.

Benefits of hot wallets

One of the advantages of hot wallets is their ease of use. They do not need to go offline to complete a bitcoin transaction because they are always online.

For example, many people use mobile hot wallets to trade or transact bitcoins. Doing so with a frozen wallet would be inconvenient. You would have to find a device (usually a computer) to connect your frozen wallet to, then transfer the required amount of bitcoins to the hot wallet before you can make a transaction.

Summary

The best option between the two wallets would undoubtedly be a combination of both. You want to strike a compromise between the comfort of a hot wallet and the security and peace of mind that a cold wallet offers. Each cryptocurrency wallet can be used for a specific purpose, allowing you to strike a balance between simplicity and security when using and exchanging cryptocurrencies.

Since most NFTs have been placed on the Ethereum blockchain, ETH (Ethereum) has long been the most popular cryptocurrency for purchasing NFTs.

However, with the growth of the metaverse and additional markets and virtual reality platforms setting up their own NFTs, a few tokens may become quite popular in the future.

GALA

“Gala Games is another Ethereum-based application that accepts the GALA token as payment. NFTs are sold, bought and traded for the GALA token, making it the hub of blockchain gaming. All of this has a significant impact on game releases, in-game purchases and other considerations.

SAND

SAND is one of the few NFT-related tokens that allow users to control, create and monetise their gaming and digital asset acquisition experience. It comes from the Sandbox environment. If you’ve played 3D games on the Sandbox platform, having SAND at your fingertips allows you to share and create resources, as well as vote on platform-specific choices.

ENJ

The ENJ token is used to pay for website development and other non-monetary tokens (NFTs) in the Enjin ecosystem, which help users create and upload digital assets. The ENJ cryptocurrency is also used to tokenise all digital assets in the blockchain.

MANA

LAND NFT and other digital assets can be purchased using the MANA – ERC20 token. The Decentraland blockchain is synonymous with it. MANA can be used by Decentraland developers to promote virtual builds, experiences, theme parks and more.

To summarise

Given the current pace of development, the idea of NFTs is undoubtedly the future of digital art, collectibles and ownership.

The Metaverse horizon will be even more exciting with the availability of NFT-relevant tokens, unique virtual markets and entire virtual worlds.

Almost everyone has mixed a token with a coin during their bitcoin adventures.

In principle, a coin and a token are quite similar. They both symbolise value and have the ability to accept payments. Coins can be exchanged for tokens and tokens for coins.

The main difference between them is how they can be used.

Token – definition and use

Tokens run on blockchains of cryptocurrencies such as Ethereum. BAT, BNT, Tether and various stablecoins are some of the most common tokens found in Ethereum.

The difference between tokens and coins is that coins do not move. Only account balances change. Your money doesn’t move anywhere when you transfer it from one bank to another. The bank has changed the balances of both accounts, while keeping the fees. The same thing happens with a blockchain: your wallet balance fluctuates and the transaction captures it.

Another intriguing aspect of the chips is how easy they are to make. Some networks, such as Ethereum, provide templates that you can customise and trade your tokens. Anyone with little or no technical skills can become a market maker.

Coins – definition and use

When bitcoin first appeared, it set the standard for the concept of a coin. Cryptocurrencies are distinguished from tokens, which are similar to real-world money, by several different characteristics.

1. It is based on a blockchain. The blockchain records all transactions related to the native cryptocurrency.

The Ethereum payment receipt is stored on the Ethereum blockchain. The receipt is added to the Bitcoin blockchain if the same person subsequently pays with Bitcoin. Each transaction is encrypted and can be accessed by any member of the network.

2. It has a monetary function. Bitcoin was created with the express intention of displacing existing money. Other currencies, including ETH, NEO and Litecoin, have been motivated by the twin attractions of transparency and anonymity.

Many large companies such as Amazon, Microsoft and Tesla now accept cryptocurrencies as payment for goods and services. In El Salvador, bitcoins have become the official currency and the US dollar.

Summary

The difference between a token and a coin is not huge, but if misunderstood it can cause a lot of confusion. By paying attention to what you are buying, you can easily determine which one you should use. In the case of a product, you will almost always need coins. If it’s a service, utility tokens are often available.