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If you want to own Solana, and want to create it yourself rather than buy it, it is important to understand the possibilities. In general, how can Solana mining be done? We have put together the most important facts!

First of all, what is Solana?

Solana was created to build crypto applications. It is an open infrastructure. It is considered to be very fast and secure, and the possibility of censorship has been effectively eliminated. It is unique in that it uses a process called Proof of History. This, together with other improvements specific to Solana, makes it a very scalable network. 

The hallmark of this exceptional blockchain is its fast and low-cost operation. For example, the transaction fee is only $0.00025. This is very affordable compared to other solutions. And the blocking and finalization is done in a second. Solana system development offers many benefits for the savvy user. It has a very high level of compatibility with other systems and outstanding enterprise-level security. The open technology allows development in many programming languages, such as C, C++ or even Rust.

How does Solana work?

It does not use a timestamp to prove events, but the Proof of History concept mentioned above. This ensures that it works efficiently. It uses Bitcoin SHA 256 as the algorithm. This algorithm was also enhanced with a delay function, which was essential for the PoH function. The order of transactions is also recorded. This allows for a very high transaction count.

The mysteries of Solana mining: what can and cannot be done?

In practice, the Proof of Stake method cannot be used to mine this coin, no matter how powerful the hardware. Fortunately, however, Solana provides us with two methods if we want to contribute to the network, in exchange for some reward.

One of these options is staking. We can do this if we already have Solana coin. We can do this with the network validators. In effect, we can deposit our coins as if we were depositing our money in a bank. If we do not trade our cryptocurrency but choose to deposit it, the network validators will pay us a reward of around eight percent in exchange for helping to validate the transactions that take place in the system. 

The other option is validation. We can do this by connecting a high-performance server machine to the network, which helps to validate the transactions that are created there. If we do so, and play our part as a validator in the development and operation of the cryptocurrency, we will receive a commission on the coins we help to create. This solution involves relatively high start-up costs. 

How much profit can I make doing this?

With staking, you can expect a return of approximately eight per cent on the cryptocurrency you stake. If you want to make a profit as a validator, you’re in a completely different ball game. If you want to do that, you’ll need considerable Linux development skills. In addition, access to a good quality server will also be necessary for this activity. Here we can safely expect to invest millions if we want to produce a significant amount of SOL for ourselves. 

To sum up, becoming a Solana steakhouse is very easy, just a few clicks away. However, the validation journey is much more bumpy and requires learning a lot of new skills. We have a lot of related information on our blog!

ETH buying and trading

Like other cryptocurrencies, Ethereum is easy to buy and trade. It just requires some preparation and prior knowledge. Let’s look at what to look out for when it comes to trading ETH!

First of all, what is Ethereum (ETH)?

Ethereum is an open source cryptocurrency. Like other cryptocurrencies, it is blockchain-based. What makes it special is that it includes a smart contract feature. 

Ethereum is not only a digital currency, but also a platform for the development of different applications. This system of public nodes is called the Ethereum Virtual Machine. Ethereum is also linked to a digital token. We call this Ethereum. It can be used to trade with this project. 

Bitcoin is the best known and most widely used cryptocurrency. All other cryptocurrencies are uniformly called altcoins. Ethereum is the most successful of the altcoins. It is the absolute second among the thousands of cryptocurrencies, both in terms of awareness and market cap.

ETH was launched in 2015. Its developers have made it their main goal to eliminate Bitcoin’s flaws. It is primarily a solution for long transaction times. Later, the tool was split into two blockchains. The older version continues to run under the name Ethereum Classic, while the newer development carries on the Ethereum name. 

Since its launch, we have seen a staggering hundreds of times increase in its price, making it a worthwhile investment and trading tool.

How to buy ETH?

If you want to buy in this token, there are a few steps to follow. Let’s see what they are!

First, if you don’t already have one, you need to create a wallet. We need to make sure our digital money is stored safely. This is the function of the various crypto wallets. We can transfer our tokens into them when trading on cryptocurrency exchanges. Several online service providers offer a suitable product for this purpose. 

If you want, you can simply create one on the Ethereum website. In addition to creating an online wallet, it may also be worthwhile to obtain an offline wallet. It is true that the online versions also offer a high level of security, but the offline versions can even negate the risks of a site breach.

Next, we need to choose a suitable Ethereum trading platform. It is worth looking at several cryptocurrency exchanges. Check the costs associated with the platform, the number of features available and, if you want to use automated trading robots, the conditions for using them.

Trading with ETH

You can buy directly from sellers using the peer-to-peer method. In this case, we do not use any crypto exchange or other intermediary.

Alternatively, you can buy ETH from cryptocurrency brokers. This solution is somewhat simpler than purchasing through a trading platform.

The most common way is to buy Ethereum for yourself on a trading platform or exchange. Here you can not only buy, but also sell it later. We can enjoy the benefits of the user interface and also consider robotic trading options based on algorithms.

If we want to make a profit from trading Ethereum, we need to choose carefully the trading platform where we want to do it.

Blockchain technology is one of the most exciting digital technology innovations in recent times, and one that we at Tradensea, without needing to go into detail, appreciate. In this article, we explore its potential uses within the hospitality industry.

What is blockchain technology?

To be on the safe side, let’s go through the basics! Blockchain is a public ledger where transactions are anonymously and permanently recorded. The records or „blocks” in the database are protected by cryptography and once the information is recorded in the blockchain, the data cannot be modified.

Crucially, blockchain technology is decentralised, meaning that information is not stored in one place. This prevents manipulation and makes all data transparent. Many event records are shared across a network, which provides additional security benefits as there is no central point of failure or vulnerability.

All information added to the blockchain is time-stamped. This ensures that all data entries are traceable, further increasing the transparency of the database itself.

For more details, read our previous blog post on blockchain!

What are the benefits for the hospitality industry?

Well, the most obvious are the security and stability benefits. For example, all data is decentralised and traceable, and the database can never be taken offline or removed by a cyber-attack, which can be important when handling financial transactions.
 
In addition, this innovative solution can play a vital role in simplifying payments. At present, this can be difficult, especially in geographically remote areas. By using blockchain technology, the whole process can be simplified and made more transparent, increasing trust.
 

Four uses of blockchain in tourism

Secure payments: whether it’s accepting cryptocurrencies such as bitcoin or ethereum, or simply a transparent, secure, global ledger, bank payments can be streamlined and hotel costs reduced.
Identification: currently, travellers have to provide their ID at different stages of their journey, but the introduction of blockchain in the industry could enable the creation of a shared digital database. This would allow passengers to be fingerprinted, for example, for seamless verification and faster administration.
Loyalty schemes: blockchain technology could improve the quality of loyalty reward schemes by simplifying them, making it easier for customers to access points. Rewards could be distributed through digital tokens that can be used anywhere, anytime, while reducing fraud in loyalty schemes.
Luggage tracking: travellers’ luggage tends to change hands many times during the journey, which can lead to logistical problems. The centralised nature of the blockchain allows different companies to easily share and access related data.

Amazingly, the potential uses of blockchain technology are virtually limitless. It is certain that in the years to come, many applications will be discovered that no one is thinking of now. Join us in cryptography, let’s follow this world together!

Many people have heard of this technology, but it can easily be confused with other concepts. Often used as a synonym for cryptocurrencies, the term blockchain is misused. Let’s see what blockchain really is!

What is blockchain?

Actually, a blockchain is a distributed database. It is made possible by a network of interconnected computers. A blockchain stores information electronically. It is best known for cryptocurrencies. For example, it plays a key role in securing the transactions necessary for Bitcoin to work. 

The novelty of blockchain is that it works by guaranteeing the authenticity and security of the information stored in the system, without the need for a third party to provide the necessary conditions. Compared to traditional structures, it makes a significant difference in the way its databases are built. 

Data is stored in groups, organised in blocks. Each block has a predefined capacity. When a block fills up, it is immediately closed and connected to a previously created block. This is how the blockchain is created. The chain is made up of filled data blocks that are linked together.

The great advantage of this structure is that it creates an immutable, unmanipulable timeline. Hence its decentralisation, since such a filled block is fixed immutably, for which the network provides the background. The blocks are also time-stamped when they are connected to the chain.

How does it work?

The architecture is designed to ensure that data is captured and transmitted in such a way that it remains immutable. It contains ledgers that cannot be removed or deleted from the network.

The concept has been around since before Bitcoin. Initially, in the early 1990s, some researchers wanted to use the blockchain concept for data generated in research. But the really big push came with the rise of Bitcoin. The network’s machines can create blocks in coordination with each other. 

To manipulate this system, someone would need to take control of more than half of the computers. In typically large and mature cryptocurrency systems, this is virtually impossible. This allows cryptocurrency trading without the risk of data manipulation.

On decentralisation

In traditional systems, important information is stored in a single database. This makes the system very vulnerable, because if something bad happens to the server farm in question, such as a power failure or a malfunction, the data becomes inaccessible very quickly.

The blockchain works by allowing the information stored in the database to be distributed between multiple network nodes in separate physical locations. This can not only disarm the above threats, but also ensures that no node in the system can independently change the data stored on it. As a result, the various histories, such as transactions made during cryptocurrency trading, including those executed by trading bots, become immutable.

Blockchain technology provides a very high degree of security and trust, thus effectively laying the foundations for cryptocurrencies and smart contracts. This concept is sure to become widespread in the future.

Despite the fact that Ripple and XRP cryptocurrencies have a fairly long history, many people are still not quite sure what the relationship is between the two.  

In 2005, Ryan Fugger, a Canadian programmer, introduced a new financial service that allowed members of an online community to send money securely to each other over a global network. At the time, however, the system was a long way from using blockchain technology.

Ripple was born out of an evolution of the OpenCoin system created by Fugger, the idea for this transformation came from the mind of American programmer and entrepreneur Jed McCaleb, and the system itself was built by programmers Arthur Britto and David Schwartz.

What exactly is Ripple and how is it related to the cryptocurrency XRP? 

Most cryptocurrencies, including ether and bitcoin, which are among the largest, are the counterpole to the traditional financial system and were designed to replace it. In contrast, Ripple and its network cryptocurrency XRP were created to improve the traditional financial and banking transaction system. 

It does this by standardising communication between different independent banks and financial service providers through a standardised protocol. This standardised communication in turn enables it to offer faster and cheaper transactions to user banks. 

Ripple itself is a transaction network that helps to facilitate the operations of financial service providers and banks. XRP is the cryptocurrency used on the Ripple network. The crypto world’s high hopes for this venture are shown by the fact that XRP is consistently ranked among the top ten cryptocurrencies in the world with the highest market capitalisation.

What is XRP? 

XRP is the cryptocurrency of the XRP Ledger, which also forms the basis of the Ripple network. Unlike the others, the XRP blockchain is not fully decentralised. The software can be downloaded and used by anyone to monitor the operation of the system. However, the system defines the unique nodes that allow users to approve transactions. 

While most cryptocurrencies, including the most popular ones such as bitcoin and ether, can be mined continuously, the entire amount of XRP has been pre-mined. From this pre-mined pool of 100 billion coins, specific amounts are released at certain intervals.

Advantages of the XRP cryptocurrency and Ripple network 

Transactions on the network are approved extremely quickly, typically within seconds. This is much faster than the days or even minutes or hours it takes traditional banks to approve transactions in the crypto world.  

The transaction fees of the Ripple network are extremely low, making it highly beneficial for both users and institutions. The network can be used not only with XRP, but also with other cryptocurrencies or even fiat currencies. That being said, XRP is essentially the native coin of the system, and as many larger institutions are already taking advantage of the system, the value of XRP could increase as Ripple grows. 

Once you have a good understanding of the basics of bitcoin mining, the next step is definitely trading, as this is one of the reasons why many people start trading bitcoin. To get the most out of this passive income business opportunity, it is also worth introducing the use of the RSI bot. 

Now you’re probably going to get your head around the fact that it’s another term, another phenomenon that’s not so uncommon in the world of bitcoin, right? However, we definitely recommend you to read this blog post that will help you to clarify what an RSI bot is and why you should make use of it!

RSI, the relative strength index 

If you’re not yet up to speed, we recommend you read,  read our previous blog posts on the basics. But if you’re already up to speed, here’s the next level!

First of all, it’s important to clarify what RSI is and why it’s important in bitcoin trading. 

The RSI indicator is basically nothing more than an indicator that measures changes in the price of a bitcoin. It can be thought of as taking a certain period of time and comparing the price rises over that time interval to the price falls over the same period. This financial indicator is definitely important to watch if you don’t want to create trouble for yourself, as it accurately reflects market sentiment and momentum. 

Of course, we understand perfectly well that it is almost impossible to sit in front of your computer all day long and watch when it rises above thirty percent or when it reaches seventy percent. That’s why we’ve developed our RSI BOT to help you make an informed decision even when you’re not hanging out on the price pages all day.  

What is the RSI BOT good for? 

The RSI bot is nothing more than automated software that helps you to buy well and sell well without having to grow to your computer screen. 

The RSI bot detects the two levels when it is worth buying (above 30%) or when it is worth selling (70%). These two thresholds indicate when a product is oversold or overbought.  

A level of 30 indicates when a product is oversold, and thus sales are expected to stop soon, while purchases are expected to start. This is the level when the price of a product starts to rise. 

It rises until it reaches a limit, the RSI index, number 70, at which point the product becomes overbought and buying begins to weaken and selling begins to increase. With the RSI BOT you can set the percentage you want to sell or buy, so in effect this software is monitoring the price movement for you.

By using the RSI BOT, you’re sure to boost your profits.

Be up to date, but use technology! 

If you want to immerse yourself in this fantastically interesting world of bitcoin, if you want to trade a currency that is not dependent on any major power or political party, then it’s definitely worth your time to get involved! 

Although it may seem very complicated at first, cryptocurrency trading is recommended for beginners. It may seem a bit intimidating at first and you may be happy that you can mine cryptocurrency, but admit it, you really started because you want to earn some passive income, and trading cryptocurrency is an inevitable part of that.

But what should you look out for, what should you start with, and what should you expect when you start trading cryptocurrencies? We’ve tried to find out in this blog post.

Be aware of the basics!

First and foremost, it is important to understand what cryptocurrency is: it is a currency that is not linked to any one power, big business or political party. Launched in 2009.  cryptocurrency mining it’s not too crazy, so if you do a bit of research, you’ll be aware of a lot of things.

It is also important to know that blockchains contain all previous transactions, so there is no possibility of fraud or embezzlement, so you don’t have to worry about your invested money, which is admittedly rare in today’s world.

Various figures will help you in your trading and if you keep track of them, you can become a very successful trader. One such number is the RSI indicator, which tells you when to start buying a currency and when to stop buying and concentrate on selling. 

Now you’re probably wondering how you can monitor this index alongside your work and other commitments, so we’re going to tell you about an option that will make things a lot easier for beginner cryptocurrency traders.

Cryptocurrency trading for beginners? Automate!

If you think that you can’t start trading cryptocurrency until you have a complete understanding of the ins and outs of cryptocurrency, we have good news for you!

There is a lot of software that automates the process of trading cryptocurrency for you, so not only do you not have to be in front of a computer all the time, but you only need to have the basics to set the RSI index you want to buy from and sell from.

As it’s an ever-changing and evolving field, you’ll never know everything, but if you follow our YouTube channel, read our knowledge base, browse our previous blog posts, or even take part in our personal training, you’ll almost certainly be up to date with the latest trends.

Cryptocurrency is the future!

A few years ago, anyone starting out in cryptocurrency might have been laughed at, but now you can pay with cryptocurrency in one of the biggest online shops in the country, and even book flights and accommodation. And this is just the beginning! 

If you’ve been afraid to take the plunge, we say now is the time to start shopping around to get to the future as soon as possible! Because the future is unthinkable without cryptocurrency!

If you want to invest your money in cryptocurrencies, it is very important that your investments form a well-diversified portfolio that will work well over the long term. This article will help you put together an investment portfolio.

What is an investment portfolio anyway?

In trading, a portfolio is a collection of different investment instruments. In the case of cryptocurrency portfolios, we mean a combination of different altcoins and a certain proportion of Bitcoin. This portfolio must be managed once it has been constructed.

This can be done manually, but there are also automated trading solutions. These automatisms can be very useful for long-term investors, but for short-term intraday trading, these automated trading bots are now almost indispensable. The more assets you have in your portfolio, the more difficult it is to manually review and manage.

What is diversification?

Diversification means spreading your investments across asset types or asset classes. This is useful because it allows us to minimise our risk exposure. 

If we invest only in cryptocurrencies, it is true that we use only one asset class, but we can also spread our risks within that class. For example, some tokens may lose value for nothing, but if others rise, they can mitigate or even outweigh our losses. A good strategy might be to put some of your money in Bitcoin, but also to buy various altcoins. For example stablecoins, NFTs or other smaller emerging assets.

Disadvantages of a diversified portfolio

Diversification is perhaps the most accepted advice in the world of cryptocurrency investing. It is an effective way to reduce your risks. However, using it not only fragments our risks, but also means that we are less able to profit from the rise of individual coins than if we were to use a concentrated portfolio of a few investments.

This is how a harmonious investment portfolio is constructed

Each investor has individual attitudes. We have different preferences and different risk tolerances, but by following a few rules of thumb, we can all build a portfolio that suits us. Let’s look at what they are:

Only invest what you can afford to lose at any one time, and only invest what you can afford to lose, with no disastrous consequences for your financial situation!

The cryptocurrency market is highly volatile. This means that you should always adjust your investments to the current market situation.

Related to the above, it is worth re-balancing your portfolio at certain intervals. Never consider it as a constant!

We should also split our investments into smaller co-investments, which carry a higher risk but also a higher upside potential, and more stable assets. 

We should also not allow our portfolio to swing in either direction when we buy assets later on.

We should neither be greedy nor panic when making new purchases. A calm attitude is the basis for profitable investment over the long term.

Although the crypto market is moving in tandem with the largest currency, Bitcoin, it is still worth considering a well-diversified, well-considered portfolio. It will help us maintain profitability over the longer term and minimise losses.

Unlike investing, the goal of cryptocurrency trading is not to hold a currency for the long term, but to actively work to profit from changes in the exchange rate. There are two common methods for evaluating data: fundamental and technical analysis.

How can we start trading?

Once we have decided that we want to do this, we first have to invest a lot of time and the amount of money we want to invest. Without the work invested, it is unlikely to be fruitful for us. We need to choose a stock exchange, connect our wallet to it to transfer the necessary funds, and then open our first coveted positions.

Should you invest or trade?

If you are in favour of the former, all you have to do is buy at a good entry point and wait. This mentality is usually typical of those who think in the long term. They forego short-term gains. They don’t want to ride small price movements, they just bet on the long-term trend. 

Traders, on the other hand, think very differently. They want to make a profit on the price spreads that arise in the short term. Cryptocurrencies are very well suited for this purpose, because their high volatility means that if you find the right inputs and outputs, you can make a big profit. 

Cryptocurrency trading methods

• The most intensive method is intraday trading. In this case, we close the opened positions on the same day. This way we try to make profits on the smallest movements of a few hours.
• A variation of this is called scalping, where we try to reduce our risk by realising quick profits immediately, even within a few minutes. This method can result in hundreds of trades a day.
• With the swingtrade method, on the other hand, we need to analyse the price movements. We should try to guess when the market will start to move up and then sell at the break. This can be a longer process. It can take months between when we buy and when we sell.

What is the difference between the different analyses?

The beauty of trading is that we try to predict the future. To do this, we can use different types of analysis. Let’s see what they are!

One is fundamental analysis, where we try to look at the asset from a slightly more distant perspective. We look at what government regulations we can expect, what news we hear about the industry. What is being said about the project behind the coin. Based on this, we try to piece together where prices will move in the medium to long term, or whether we can expect a rapid rise or fall in the near future. 

With technical analysis, we look at the statistics. We analyse how exchange rates are moving. We try to identify trends, and from this we try to predict the probability of price changes. An important difference between the two is that in technical analysis we can also use automata, trading bots.

Trading on a stock exchange robot is an exciting topic. Automatic trading systems based on algorithmic principles are developing at a tremendous pace all over the world. Today, there is hardly an investor who does not use these programs in his trading. Let’s see what we need to know about these robots!

What are trading robots?

Basically, stock trading robots are bots that can trade automatically without constant human supervision. This is a huge convenience for traders as they do not have to constantly monitor stock market movements. As a result, these software programs save considerable time and energy for their users.

The advantages of trading with a stock exchange robot

Traders learn the rules of stock exchange trading in vain. Even if they learn how to analyse charts, they cannot completely eliminate the potential for human error from the trading process. People are not able to devote their full and constant attention to this activity. This is particularly true for crypto markets that are active 24 hours a day. Moreover, we are not in full control of our emotions. Fear and greed are very bad advisors in stock market operations. 

Trading bots, on the other hand, are tireless and always execute the most ideal transactions according to the strategy set. They will not be overcome by FOMO and other emotions. By their very nature, they work for us even when we are sleeping the dream of the righteous or engaged in other important activities.

What are the disadvantages of automated trading?

Due to the increased unpredictability and volatility of crypto markets, trading bots can be subject to movements that they have not been pre-programmed to anticipate. If the trading rules they use are not set up properly and with due care, they can lose money. To avoid this, it’s worth being aware of the basic terms of robotic trading and learning how they work before practicing what you’ve learned with your own money in a live account.

As a basic rule, it is not worth entrusting all your invested capital to a single robot. Diversification is also a good idea here. This is an effective way to reduce the risks of trading with robots.

How do crypto trading robots work?

If you want to trade on cryptocurrency exchanges in an automated way, it is important to be aware of how the robots used for this purpose work. Most importantly, we need to connect them to the exchanges and to our wallet. This will provide the basis for their operation. We can typically do this by using different API keys. Besides connectivity, proper programming is also key. We need to configure them to perform their activities according to rules.

What types of automated trading exist?

Market maker bots make profits for their users by exploiting the difference between the bid and ask price. Their principle of operation is basically simple: they buy assets at a lower price and then resell them at a higher price. 

Arbitrage trading, on the other hand, exploits price differences between different exchanges.

Whatever strategy you intend to follow, it may take time to find the right settings and be able to make a reasonable profit from this activity.