In this review, I take you through Algorand, the pure proof of stake blockchain that’s aiming to deliver decentralization, scale, and security for all participants.
Firstly, I’ll provide an overview of Algorand, then explain how to safely buy Algorand’s ALGO tokens and store them securely in a supported wallets. Plus, I’ll also explain how to stake Algorand ALGO tokens to earn rewards.
What is Algorand?
Algorand was launched in mid-2019 and is a public cryptocurrency blockchain and protocol that aims to deliver decentralisation, scale, and security for all participants.
They use a permissionless proof-of-stake protocol called “Pure Proof Of Stake” for validating blocks into its chain. Unlike Proof of Work (used by Blockchain) or Proof of Stake, Pure Proof of Stake ensures full participation.
Every token holder with at least 1 ALGO in their account can choose to participate, in which they can be randomly chosen to propose and add new blocks to the chain. The more tokens you hold, the more likely you are to be chosen. Users can choose to participate by declaring their availability or if they’d prefer not to, they can simply stake their tokens and earn rewards like they would with Proof of Stake.
What is Pure Proof of Stake?
Pure Proof of Stake enhances security as the token holders are chosen at random and an attacker doesn’t know which ones they are beforehand. It also promotes decentralisation because anyone can participate and you don’t have to solve any complex mathematical problems like a miner would with Proof of Work.
It also offers speed with fast transaction processing, finalising block in seconds with throughput on par with large payment and financials networks. Plus, very low transaction costs
Who Are Algorand?
Algorand is a Boston-based project which was created by Silvio Micali. A Turing Award winner, computer scientist and Massachusetts Institute of Technology (MIT) professor. Micali is joined by a team of blockchain experts and researchers.
The Algorand Foundation is in charge of the project and reported that Algorand managed to raise $60 million from their public sale in June 2019.
What is the Algorand ALGO token?
As with most blockchain’s Algorand also has its own native token $ALGO. ALGO is used as a transfer of value on the network and powers the Algorand Protocol.
Algorand Tokens/Standard Assets
As well as their own Algorand ALGO token, there are other cryptocurrencies also running on the Algorand blockchain, known as Algorand Standard Assets (ASA). These are similar to the likes of an ERC20 token that run on the Ethereum blockchain.
These ASAs can include fungible assets (such as currencies, stable coins, utility tokens, etc), non-fungible assets (unique assets such as tickets, etc.), restricted fungible assets (such as securities), and restricted non-fungible assets (such as licenses, certifications).
The Algorand Standard Asses are fast and secure as they are built directly into Algorand’s Layer-1. Plus they are low cost to execute due to Algorand’s minimal transaction fees.
Algorand’s “Atomic Transfers” offer a secure way to batch transactions to allow groups of transactions to be submitted at one time. During this transaction, if any of the transactions fail, then all the transactions will fail.
This allows for several use cases, including payments to be made to multiple recipients, and can be used in decentralized exchange, enabling trades without going through a centralized exchange.
Where Can You Buy ALGO Tokens?
There are many exchange platforms where you can trade for Algorand’s ALGO token. Below are some of my personal favorite exchanges. However, you can check out a full list of available exchanges on the likes of CoinMarketCap or CoinGecko.
Binance Exchange is one of the largest crypto exchanges in the world by trading volume with the lowest fees in the indursty at just 0.1%.
With Binance you can trade for ALGO, using cryptocurrencies and stable coins such as BTC, USDT, BUSD, BNB and TUSD.
Coinbase is a well-known and trusted cryptocurrency exchange made for the beginner in mind. With Coinbase users can trade for ALGO using currencies such as USD, EUR, GBP and BTC.
The ALGO token was listed on Coinbase in July 2020 and was the fastest a token has ever been listed on exchange. With Coinbase users can buy, sell convert, send and receive or store ALGO in all Coinbase Supported Regions.
Plus you can also watch videos and earn ALGO through their Coinbase Earn feature.
Crypto.com is a one-stop-shop for crypto that launched in 2019. The exchange enables users to trade crypto to crypto, with low fees and deep liquidity.
Crypto.com announced its listing of Algorand’s ALGO to its App in June 2019. Within the crypto.com exchange, you can trade with BTC, CRO and USDT.
How to Store ALGO?
Once you have purchased or traded from your ALGO tokens, it’s important to store these in a supported wallet. Keeping your tokens on an exchange is not recommended as it is a far more likely target for hackers. Plus you don’t have control over your assets without access to your private keys.
Below is a list of a few of my top ALGO-supported wallets. However, there are more available such as the likes of the Atomic Wallet or MyAlgoWallet.
The Algorand Wallet is the official wallet, built by the team that that built the Algorand Blockchain. The wallet, which is available as a mobile app for Android or iOS devices allows you to securely manage your Algorand assets while earning rewards.
With the wallet you can send, receive, or HODL Algos and Algorand Standard Assets. Plus you can automatically earn rewards, just by having Algos in your accounts.
Algorand wallet also allows its users to create accounts within the Algorand Wallet that are backed by a Ledger hardware wallet. Giving you increased security with your private keys never touching your mobile. Plus all transactions from your Ledger-backed account will require authorisation.
With Ledger you can manage your Algorand and the Algorand Standard Assets directly within Ledger Live. Meaning that you’re ALGO or ASA tokens are stored safely offline and away from any potential harm.
Plus ALGO rewards can also be claimed via Ledger live.
If you’re looking for a free wallet to store your ALGO tokens, the Exodus desktop wallet supports these tokens. With Exodus, you can send, receive, stake and exchange with the ALGO wallet.
The Exodus wallet is also available for Android and iOS meaning you can keep a track of your portfolio on the go.
How to Stake ALGO?
With Algorand there is no delegation required. Meaning that all you need to do is hold 1 ALGO on your address to start earning rewards. Usually, with cryptocurrency staking, you need to become a validator or delegate your tokens. However, with Algorand they really simplify the process.
To start earning you simply deposit your ALGO into a supported wallet and your ALGO will automatically accumulate over time.
The rewards you receive are automatically claimed whenever the next operation takes place on your address. This can be either the sending or receiving of some ALGO.
In this updatedreview for 2021, I take a look at Blockchain.com. Blockchain.com is one of the oldest and most trusted cryptocurrency wallets, with over 48 million wallets been created since 2011. We’ll look at how you can buy and sell your Bitcoin or other cryptocurrencies. Also, take a look a the features such as the Blockchain.com Exchange, airdrops and stable coin US Pax.
Who are Blockchain.com
Blockchain is based in Luxembourg and the company was co-founded by Peter Smith and Nicolas Cary. With a team of over 100 employees from 22 countries their experience in from both the tech and financial sectors.
The Blockchain wallet launched in 2011 and has since gained a large amount of trust within the cryptocurrency space. Blockchain now offers a wide range of products with the Wallet being one of many. Their other products include the Blockchain Exchange Platform, Hardware wallet “Lockbox”, Institutional Platform “Markets” and the Blockchain Developers API Platform.
What is Blockchain Wallet?
A Blockchain Wallet is a software cryptocurrency wallet where you can store your coins safely. It is the most popular choice wallet for Bitcoin and Ethereum especially for storing large amounts due to its security and protection. You can easily access your crypto from a mobile device or via the web platform.
With the Blockchain.com wallet, you can buy your first Bitcoin or other cryptocurrencies, exchange them and store your assets safely. You have full control of your assets. With the ability to back up your funds, and protect them from unauthorized access.
Blockchain Trading Wallet
Blockchain.com has added “Trading Wallets” to their platform for cheaper, faster transactions. Trading wallets are custodial wallet balances that users can use for functions such as receiving the crypto you buy, selling and swapping your crypto because these transactions do not have to be sent on-chain. Meaning the transactions can be faster, as they are not subject to cryptocurrency network congestion or confirmation times, and they do not incur network or transaction fees, as they do not have to be confirmed by the network or miners. Find out more about the Trading Wallet, plus how you can withdraw your crypto from Blockchain.com.
Blockchain Wallet Fees
As with the majority of other wallets, users are only charged for their transactions calculated by the wallet and depending on the network convestion and transaction size.
The fees will depend on whether you choose from a “Priority” or “Regular” transaction. With Priority, your transactions will try to be processed within an hour. Whereas Regular will incur a lower fee, however, will be slower. Advanced users can also custom the fees that they pay.
Blockchain Wallet Supported Coins
The Blockchain.com wallet currently supports five cryptocurrencies which include, Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Stellar (XLM) and USD Digital (previously USD Pax).
How to Buy Bitcoin
If you’re interested in getting into Bitcoin or other cryptocurrencies and you’re not too sure where to start, here is a step by step guide.
Step 1: Login In and Buy Crypto
If you would like to buy your crypto quickly and easily on the Blockchain wallet with Euros or GBP the first thing you need to do is “Login” and select “Buy Crypto“.
Step 2: Select Your Crypto and Amount
Then over on the right hand side, choose which cryptocurrency you would like to purchase. And you can select from: Bitcoin, Ethereum, Bitcoin Cash, Stellar, and USD Digital. Against each currency it’ll show you the market price which is the estimated price you will be paying. This is only estimated as the market could change between now and when your order is actually place.
You can then type in the amount that you would like to purchase. The minimum buy is 5 of your chosen currency, so this could be £5, €5 with a maximum of 5,000 per order. There are also daily and weekly limits too which will depend on your level of verification.
Step 3 : Check Out
And if you’re new, you’ll be asked to verify your identity to proceed with the order which may include uploading your photo ID.
Once you’re verified, you’ll reach a “Checkout” screen with the details of your order.
This screen shows your exchange rate, payment method and the fees associated to your order.
When you create an order on Blockchain’s wallet you’re actually creating something called a market order which means that you’re paying at the market rate. So although the fees are showing as zero you could be purchasing your Bitcoin at a slightly inflated rate.
To Confirm your purchase, you can then click onto “Continue“.
Step 4: Send your Funds
You’ll then be presented with the bank details of where to send your funds to.
Please note that as it states to “only send funds from a bank account in your name. If not, your deposit could be delayed or rejected“.
You’ll need to securely transfer Euros or British Pounds (whichever currency you are paying with) from your bank account to Blockchain.com using the details on the screen.
Your purchase is then pending, until they receive the funds.
Once it’s completed the newly purchased bitcoin will then show in your associated crypto wallet where its safely stored.
How to Send Bitcoin
If you want to send your Bitcoin from your Blockchain.com wallet and across to another wallet or an exchange you’ll need to click onto the “Send” button from the top of your screen.
Step 1: Choose Your Currency & Wallet
First you’ll need to select the currency you want to send from your wallet. If you have more than 1 of your chosen currency wallet (for example if you’ve imported a Bitcoin Paper Wallet) you can select the required wallet from the dropdown too.
Step 2: Enter the Bitcoin Address & Amount
Enter the address of where you would like the crypto to be sent to. This will either be a long string of numbers and letters that you can paste into, or you can scan using a QR code.
Then enter the ‘Amount‘ that you would like to send across. You will then have the ability to select your network fee which will appear on the right. Finally, click onto ‘Continue‘ to confirm your transaction.
How to Sell
With blockchain being one of the oldest and most trusted wallets available, you’d assume you could easily withdraw your funds. However, unfortunately, this doesn’t seem to be the case at this time.
The blockchain wallet used to have a buy and sell section on the left which has been now mysteriously been replaced with just “Buy crypto”. Therefore, users must use the Blockchain Exchange to Sell their crypto.
So, if you’re not fan of holding your crypto for the long run and you want to cash it in and withdraw, here is a beginners guide.
Step 1: Create a Blockchain exchange account & connect your Blockchain wallet
The first thing you’ll need to do is create a Blockchain Exchange account by entering your email address and creating a password. You’ll then have the option to connect your Blockchain wallet, which is only available at this time and cannot be done later. You can connect this using a QR code or signing into your Blockchain wallet.
Step 2: Deposit your crypto
Next, you’ll need to do is deposit some crypto that you can sell. You can deposit from your linked blockchain.com wallet, or send funds across using the associated wallet address.
Step 3: Sell your crypto
From the top you can choose your pairing by clicking onto the ‘+‘ icon. And you can choose from a host of pairings including exchanging for euros or dollars.
Then select “Sell” on the right of the screen, as well as the amount (in your chosen crypto) that you’d like to sell.
Then you have the option of market, limit stop and stop-limit orders. For the purposes of this beginners guide we’re going to keep it simple and sell with a market order. Which means I’m going to see at whatever the current market price is.
And you can “Place BTC Order” which is go through automatically and instantly.
Step 4: Withdraw to your bank account
So we now have converted our crypto to FIAT currency we can head to “Portfolio” and “Withdraw“.
Please note you do need to be gold level verified to be able to withdraw FIAT currencies. It’ll also ask you to make a small deposit if you haven’t already linked your bank account.
Your funds will then withdraw into your bank account.
How to Receive Bitcoin to your Blockchain Wallet
If you want to receive cryptocurrencies into your wallet, maybe you are sending funds from an exchange or another wallet then you’ll need to click onto “Request” at the top of your screen.
Step 1: Select Your Currency & Receiving Wallet
First you’ll need to select the type of currency you are going to be sending across to your wallet. Each cryptocurrency will have its own associated address. Then you will need to state which wallet you’d like the crypto to be sent to.
Step 2: Share your Address
Next you will need to copy or share your public address. This can be done using a QR code (for mobile devices) or you can copy the address from the “Address” section by clicking onto the copy icon on the right and then you can share or paste this in you “Send” feature from where you are sending the funds.
Blockchain Interest Accounts
Blockchain.com now allows users to deposit Bitcoin into an interesting account. Once you have deposited Bitcoin into your interest account, you will start earning up to 4.5% interest.
With Blockchain’s “Swap” feature, you can exchange any cryptocurrency for another crypto. This in-wallet exchange, allows users to quickly and easily exchange one crypto asset for another whilst keeping control of their private keys. All without having to ever leave your Blockchain.com Wallet. And you can swap between Bitcoin, Ethereum, Bitcoin Cash, Stellar and USD-D.
Blockchain.com’s Airdrop Program provides Gold level verified users the opportunity to participate in Airdrops. Their first phase, was the Stellar Airdrop, putting XLM in the hands of millions of new users and doubled the Stellar network.
With their second airdrop, they partnered with Blockstack to give away Stacks tokens (STX) to their users.
Blockchain rebranded its cryptocurrency exchange platform from “The Pit” to “Blockchain Exchange“. The new Blockchain.com exchange provides a high-speed crypto exchange for retail traders with the ability to trade 34+ cryptocurrencies.
The exchange has been created for the novice investor in mind, with its clear user-friendly interface. With the Blockchain exchange, you can view markets, check the status of your orders, make deposits, withdraw funds and trade crypto assets. Available in 200 countries within some locations, you can also buy crypto using FIAT, depending on your verification level.
Blockchain’s “Borrow” gives their Gold level verified users the ability to borrow USD Digital from Blockchain.com using bitcoin stored in the Wallet as collateral. The interest rate for your loan is given in the loan creation form and are subject to change.
At this time, they only accept collateral in bitcoin (BTC), to be sent from your Blockchain.com Wallet. However, they do plan to extend this to other cryptocurrencies in the future. The transaction will be initiated automatically as soon as you confirm the loan.
Most lenders will pull borrowers’ credit score reports or other reports of borrowing history. This can then lead to having a negative effect on your credit score. However, Blockchain.com Borrow does not require credit, so taking out a loan with them will not affect your credit score.
USD Digital Stable Coin
Blockchain has now renamed USD PAX to USD Digitial. USD-D is crypto pegged 1:1 with the USD meaning that 1 USD Digital token will always be valued at 1 USD within your wallet. With USD-D you can hold a stable, digital dollar in your Blockchain Wallet. As USD Digital is an ERC20 token any transactions with it will cost an additional, small fee in ETH.
These digital dollars are powered by Paxos Standard, one of the most actively traded stable-coins and among the first to be regulated by the New York State Department of Financial Services.
Lockbox Hardware Wallet
Blockchain has released its own hardware wallet called Lockbox. Lockbox has been designed specifically by Ledger (creators of the Ledger Nano S). By storing your private key in a hardware wallet, you are securing your crypto offline, keeping it another step away from hackers. Therefore by using their Lockbox in conjunction with the online wallet, you get the best of both worlds. The easiest, most widely used web wallet and the most secure offline storage solution creating a seamless experience to trade, transact, and protect your crypto.
Blockchain Lockbox features custom firmware, enabling exclusive features.
Blockchain Wallet Customer Support
Blockchain.com wallet does have a support system where you can submit ticket requests for support via its online Support Centre. They also provide some FAQs to resolve commonly asked queries. However, for a newbie getting into cryptocurrencies, unfortunately, there is no live 24/7 chat feature and in busy periods their support can get flooded. Therefore you may find that there is not an adequate support structure to support you.
Blockchain.com, best known for its popular cryptocurrency wallet with over 40 million wallets created to date. Has rebranded its cryptocurrency exchange platform from “The Pit” to “Blockchain Exchange“. The new Blockchain.com exchange provides a high-speed crypto exchange for retail traders with the ability to trade 34+ cryptocurrencies.
The exchange has been created for the novice investor in mind, with its clear user-friendly interface. With the Blockchain exchange, you can view markets, check the status of your orders, make deposits, withdraw funds, and trade crypto assets. Available in 200 countries within some locations, you can also buy crypto using FIAT, depending on your verification level.
What is the Blockchain Exchange?
Blockchain.com is a London-based crypto exchange that promises “a Wall Street or a Chicago-level matching engine”. Providing high-speed trading with under 50 microsecond execution time, compared to the 200-500 milliseconds from the industry leaders such as Binance and Coinbase.
Powered by the world’s most popular crypto wallet Blockchain.com, which claims to account for roughly 25% of daily activity on the bitcoin network. They hope to follow this success with there new Blockchain Exchange. Created by an experienced team lead by the former Managing Director at Ameritrade (the world’s largest online broker) Nicole Sherrod, they hope to attract institutional and retail investors alike.
“When Peter (Blockchain.com SEO) approached me with his vision for The PIT (now Blockchain Exchange), I realized this was an opportunity to make an even greater impact to millions of retail crypto traders,”
Blockchain Exchange Rebrand
Blockchain initially released its crypto exchange The Pit in 2019. However, after customer feedback and experience, they felt it was unclear that this was a Blockchain.com product. Therefore for clarity, felt it important to align their name more closely to their suite of products by rebranding to Blockchain.com Exchange.
They have stated that in an effort to ensure that their products are easy to understand and easy to use. You may notice changes to other features names over time, all with the aim to increase clarity and improve the user experience.
What Cryptocurrencies Do Blockchain Exchange Support?
Dependent on your location you can deposit with the likes of USD, EUR and most recently GBP via bank transfers. You can then buy and sell with the likes of BTC, ETH, BCH, USDT and XLM.
There are currently 34 trading pairs available with more coming soon.
New additions include the likes of ALGO and DGLD.
What is DGLD?
DGLD is a digital asset representing proof of ownership over physical gold stored in a Swiss vault, and tokenized with a side-chain built on the Bitcoin network. Each DGLD token is the digital equivalent of 1/10th of a troy ounce of gold, vaulted in Switzerland.
These hybrid tokens offer a middle ground between bitcoin and physical gold. This could be of interest for those in The UK worried about the economic impacts of ongoing Brexit discussions. Or someone From a country or economic zones with an unstable local currency.
How to create a Blockchain Exchange Account
To create a Blockchain Exchange account, you will need to enter your name, email address, date of birth and address. If you already have a Blockchain.com wallet you have the option to “Connect to Blockchain Wallet”. This will be your only opportunity to connect your wallet as it’s only possible during sign-up.
If you are connecting to an existing Blockchain.com wallet, you will then be prompted to scan a QR code with your Blockchain app, or you can sign into Blockchain.com. This will enable you to easily transfer funds between the exchange and your wallet. In addition, if your blockchain wallet is already gold level verified you will benefit from gold level limits on the Blockchain Exchange.
Once you’ve verified your email address and accessed you account you’ll need to secure it with 2FA. Consider unlocking to gold level for increased withdrawal levels and fund your account.
How to Setup 2 Factor Authentication
2-Step Verification (also known as two-factor authentication, or 2FA) acts as an extra layer of security for your account. It’s highly recommended that you use 2FA to help keep your crypto secure.
When logging in you will need both the password for your account plus a one-time passcode (OTP) generated by the Google Authenticator app (and Yubikey is coming soon!)
To set it up, head over to Google Play or the App Store and download the free Google Authenticator app.
Head over to the Blockchain Exchange, and click onto your profile name. Click ‘Settings’ and ‘Security’.
Under the ‘Two-Factor Authentication’ heading click the ‘Add Two-Factor Now’ button.
You will be presented with QR code to scan with your Google Authenticator. So for those of you with an iPhone click onto the ‘+’ icon in the top right-hand corner of your Google Authenticator app. Scan and then confirm the code within the exchange.
The code on your Google Authenticator creates a 6 digit code every 30 seconds and will then be required at every login.
How to Deposit Funds into Blockchain Exchange
You can deposit funds with GBP, EUR, USD, crypto or straight from your connected Blockchain.com wallet. To deposit funds you will need to have 2-factor authentication enabled in the Blockchain Exchange.
How to Deposit from your Blockchain Wallet
To deposit from your Blockchain wallet, select “Deposit“.
Then click “Deposit From Your BlockchainWallet” and input your Blockchain Wallet ID and password.
From within your Blockchain.com wallet, select Send besides the cryptocurrency, you would like to send.
An address will appear in the Blockchain Wallet send form or from the ‘To’ drop-down you can select the Blockchain Exchange. Then just enter the amount you would like to deposit and click send.
How to Deposit from a Third Party Wallet
If you are depositing from a 3rd party wallet, choose “Deposit” and select the type of cryptocurrency you would like to deposit from the drop-down menu.
Copythe wallet address shown in the window.
Head over to your third party wallet and send the amount of funds you would like on your account to the address you have copied from the Blockchain Exchange.
How to Deposit FIAT
You can deposit the likes of Euros or USD, to deposit these funds. Select “Deposit” and choose Euro or USD.
You will then be prompted with bank details for the associated FIAT currency that you will need to send your funds to. Funds are generally available to trade in 1 business day. You also need to ensure that your recipient name matches the account holder name on your bank account for the transfer to be successful.
Blockchain Exchange Trading Fees
The fee structure is based on a maker/taker model. You’ll pay 0.24% in taker fees if you trade less than $100,000 per month and 0.14% in maker fees making it 0.01% lower than Coinbase Pro fees. It starts with an introductory tier that’s lower than most exchanges. The more you trade, the less you pay.
Market Orders – A market order is an order type that executes immediately at the current price. With a market order, you are considered a taker of the market as you are taking the market value.
Limit Orders – A limit order is an order where you define the price that you want to buy or sell at. There are then a set of time conditions that you can apply to your limit order.
How to Trade on Blockchain Exchange
To buy your crypto the first thing you need to do is select your trading pair. You can do this by clicking onto the ‘+’ icon at the top of the screen and selecting the required pair.
Then go to “Buy” on the right-hand side.
Enter the “Amount” of your chosen cryptocurrency you would like to purchase. select the “order type” you would like to place from Market or Limit Orders.
If you select a Limit order you then enter the “Amount” you would like to buy at. You also have time in force conditions which allows you to specify how long an order will remain active before it is executed or expires.
If you have chosen a Market Order, your order will complete immediately. If you have chosen a Limit order, your order will appear in “Open Orders” whilst you wait for your order to complete.
With a limit order you have the ability to cancel your order before it completes, in case you have made an error or if the market moves too much.
How to Sell Your Crypto
To sell your crypto the first thing you need to do is select your trading pair. You can do this by clicking onto the ‘+’ icon at the top of the screen and selecting the required pair.
Then go to “Sell” on the right-hand side.
Enter the “Amount” of your chosen cryptocurrency you would like to sell. Select the “order type” you would like to place from Market or Limit Orders.
If you select a Limit order you then enter the “Amount” you would like to sell at. You also have time in force conditions which allows you to specify how long an order will remain active before it is executed or expires.
If you have chosen a Market Order, your order will complete immediately. If you have chosen a Limit order, your order will appear in “Open Orders” whilst you wait for your order to complete.
With a limit order, you have the ability to cancel your order before it completes, in case you have made an error or if the market moves too much.
How to Withdraw Your Crypto From Blockchain
With the Blockchain Exchange, you can withdraw your assets directly to your Blockchain wallet, to a third party wallet or depending on your account verification level you can withdraw to your bank account.
Withdrawing Crypto Assets
To withdraw your crypto assets to your Blockchain or third party wallet. Click onto your balance in the top right-hand corner of the screen and click “Withdraw“.
Select the type of cryptocurrency you would like to withdraw.
From the destination address, select either “My Blockchain Wallet” (if connected) or “External Address“. If you are withdrawing to an external you will need to enter your public address.
Enter the amount that you would like to withdraw in your chosen cryptocurrency or in USD.
You will then be prompted to enter your 2-factor authentication code and you can click onto “Withdraw“.
Withdrawals to SEPA (for Euros) are free, with a minimum withdrawal amount of 50 euros.
Wire transactions (for USD/GBP) are charged at $10 for domestic payments and $30 for foreign (which is deemed as accounts outside of the US/UK) with a minimum withdrawal amount of $5,000.
To withdraw to your bank account, you need to first make a small deposit so that they can link your bank account.
Getting started and learning about Bitcoin, Cryptocurrency and Blockchain can be a long and complex task. If you’re anything like me and find it easier to learn about a subject by watching YouTube videos or documentaries on the subject, then here is a list I’ve compiled of my top 10 crypto-related documentaries. Depending on your location my top 10 must-watch bitcoin and blockchain documentaries can be found on likes of Netflix, Amazon Prime, and even free on YouTube and should help you learn about history and technology.
I’m sure there are plenty of Crypto and Bitcoin-related documentaries I have missed. So, if there are any you feel should be added to the list please let me know in the comments below!
1. Banking on Bitcoin
Bitcoin is the most disruptive invention since the Internet, and now an ideological battle is underway between fringe utopists and mainstream capitalism. The film shows the players who are defining how this technology will shape our lives.
Banking on Bitcoin documentary was released on Netflix in 2016 and provided many people with their first introduction into the world of cryptocurrency. It stars many of the Bitcoins early adoptors such as Charlie Shrem, Erik Voorhees, and the Winklevoss twins. Director Christopher Cannucciari is currently working on another Bitcoin-related documentary, ‘The Search for Satoshi’.
Director: Christopher Cannucciari
2. Magic Money: The Bitcoin Revolution
Magic Money is a documentary film which explores the mysterious origins of Bitcoin. Staring Bitcoin celebrities Roger Ver and Tony Vays, it looks into the world’s first digital currency Bitcoin and how its role in society, and how this digital currency could reshape the future of our world. For the first time in history, money is no longer controlled by banks and governments, but by the people.
Director: Tim Delmastro
3. The Bitcoin Gospel
Is Bitcoin the blueprint for a bankless currency, or the biggest pyramid scheme ever? What if we could create money ourselves, without the need for banks? Money that can’t be forged, that will appreciate rather than depreciate, and that can be used worldwide without transaction costs. It exists, and some people consider it to be the digital version of precious Gold: Bitcoin.
4. The Blockchain and Us
When the Wright brothers invented the airplane in 1903, it was hard to imagine there would be over 500,000 people traveling in the air at any point in time today. In 2008, Satoshi Nakamoto invented Bitcoin and the blockchain. For the first time in history, his invention made it possible to send money around the globe without banks, governments or any other intermediaries.
Director: Manuel Stagars
5. Bitcoin End of Money as We Know It
For anyone who has not fully understood the controversial Bitcoin yet, this is a concise and informative crash course about Money and Crypto Currencies.
Directors: Torsten Hoffmann (co-director), Michael Watchulonis (co-director)
6. The Rise and Rise of Bitcoin
A computer programmer becomes fascinated with the digital currency Bitcoin, and through his involvement in the Bitcoin community, we learn about the impending global impact of this amazing new technology.
Director: Nicholas Mross
7. Ulterior States [IamSatoshi Documentary]
Ulterior States, an IamSatoshi production, is an argumentative documentary project. The participatory development, production and post ‘guerilla-film-making-methods’, bounced between (non-academic) literature research, video interviews, and studio sessions. This investigative process allowed having real-life conversations with some thought leaders within the Bitcoin ecosystem. In an attempt to portray the community behind the message to adopt a network, being a one-man team allowed for easier access to the subjects. The enthusiasm and commitment that saturate through the lens in many parts of the film, expose how the adopters of Bitcoin want to explore, to probe and, to show the world, something important, otherwise overlooked.
8. The Bitcoin Phenomenon
Produced for SQ1.tv, this Bitcoin documentary looks at the history, the ideologies, and the conflict between the politics of the early-adopters and the VCs/entrepreneurs pushing to take Bitcoin mainstream. SQ1.tv interviewed many of the leaders in the Bitcoin movement including Gavin Andresen, the former lead developer; Jeremy Liew, a venture capitalist; Erik Voorhees, one of the notable libertarians in the movement; Fred Ehrsam, co-founder of Coinbase; Peter Vessenes, head of the Bitcoin Foundation.
9. Deep Web
A feature documentary that explores the rise of a new Internet; decentralized, encrypted, dangerous and beyond the law; with particular focus on the FBI capture of the Tor hidden service Silk Road, and the judicial aftermath.
10. Bitcoin: Beyond the Bubble
Struggling with the jargon-filled world of Bitcoin then Bitcoin: Beyond the Bubble is for you. The film also examines other forms of money throughout history like Gold, Silver and the US dollar. And Bitcoin is just seen as the next obvious evolution of money.
I hope you find my top 10 Bitcoin documentaries list helpful! If you feel I have missed a must-watch documentary related to Bitcoin, Blockchain or Crypto, please let me know in the comments below and I will add them to the list.