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Believe it or not, porn is everywhere. It’s in people’s <a href="http://www.businessinsider.in/searchresult.cms?query=mobile+phones">mobile phones</a>, laptops, hard disks, and of course on the internet. It’s been mankind’s discreet sidekick for centuries, nurturing our voyeuristic side. Thanks to the <a href="http://www.businessinsider.in/searchresult.cms?query=taboo">taboo</a> and the stigma that comes attached to it, Indians would rather not discuss <a href="http://www.businessinsider.in/searchresult.cms?query=porn">porn</a> in an open forum and try and tuck it safely into the secret pockets of their lives. 
 
At a time when the country is torn with the porn controversy, Business Insider India digs into the dynamics of this ingeniously sneaky trade to find out how it really works. 
 
For starters, porn statistics are notoriously hard to get hands on. Judging by the fact that many of these enjoy over 5 million hits per month, one can safely presume they are making serious moolah. 
 However, when you turn to a porn site, its free content, and most ads you see are of other <keyword id="51057" type="PERSON" weightage="20" keywordseo="porn-sites">porn sites</keyword>. Also, after piracy hit online porn hard and the recession struck harder in 2009, most adult <a href="http://www.businessinsider.in/searchresult.cms?query=movie+producers+">movie producers </a>admitted that profits have tanked 30-50%. So how did they stage a comeback, and how are they making any <keyword id="6354840" type="UNKNOWN" weightage="20" keywordseo="money">money</keyword> now? Let’s decode the financial model of the porn industry. 
 
How big is it? 
Porn is worth over $100 billion globally – that’s bigger than some of the biggest corporations across the world. Around 10% of that comes from the US alone; however the numbers are shrinking, thanks to free porn. However, just to give you an idea, there are 25 million porn sites worldwide and they make up 12% of all websites and over 30% of all web traffic. Around 11,000 hard-core porn movies are shot annually at the global hub for porn - California's infamous <a href="http://www.businessinsider.in/searchresult.cms?query=San+Fernando+Valley">San Fernando Valley</a>, where porn as we know it was born. 
 
However, the 2009 recession left this industry helpless, thanks to <a href="http://www.businessinsider.in/searchresult.cms?query=piracy+">piracy </a>and tanking <a href="http://www.businessinsider.in/searchresult.cms?query=DVD">DVD</a> sales. A mid-sized adult entertainment would cash in around $350,000 a month in DVD sales before the recession, and the figures dropped as much as 50%. However, the numbers are recovering, and with more diverse mediums to choose from, the industry has been forced to innovate. 
 
But it’s all free! 
Contrary to public perception, free porn may be more widely available, but it forms a small part of the entire gamut of products the industry offers and the audience it caters to. Look beyond the ‘free’, and you’ll see ‘premium content’. These include HD videos, no ad/pop-up promises, unlimited downloads, online Live Cam streaming, and so on. Paid users can ask the website to deliver content to their email, or physical addresses. While you may never know, many do sign up for it as they like the convenience it offers. 
 
But how do they earn? 
The allure really is that subscriptions offer priority access to new content from your favorite ‘star’ that would take months to seep into the free world. There is also the allure of personalized sex toys that offer the experience of being with your favorite star, adult chat rooms and dating sites. These premium services come at a cost, and when millions sign up, it’s a profitable business to be in. 
 
 Porn sites are also smart. They offer a wide range of payment options to choose from daily, weekly, monthly, quarterly and even yearly. Just like your common newspaper/magazine subscription, the longer you sign up for, the more discounts you get offered, and the more your brand loyalty increases. These subscriptions cost anywhere from $1-15 a day. While it might be too much for you for a mini bathroom session, there are millions who sign up for it. 
 
While a website may earn primary from subscriptions, it also cashes on man’s primitive lust for flesh. It makes money off traffic from other similar websites which it redirects. That explains why you only have porn ads on porn sites. These ‘similar services’ refer to adult dating sites, online adult stores, enhancement drug stores, adult gaming sites and so on. This forms a intricate and complex nexus of websites, all making money off each other, and cashing on your instincts, and that is what funds the ‘free mini clips’ you get to see. What to see the full video? Pay up. 
 
To give a sense of the traffic, Xvideos, world’s biggest porn site enjoys 4.4 billion page views and 350 million unique visits every month. If Google data is anything to go by, the other four of the top five porn sites combined enjoy more traffic than Wikipedia (take that!). 
 
How else do they make money? 
3D porn has also made a red carpet debut onto the global porn arena. With TV companies going bonkers over their latest 3D TVs and Smart <a href="http://www.businessinsider.in/searchresult.cms?query=LED+screens">LED screens</a>, some of the more mature porn markets are ready to pay for 3D porn that’ll give you the sense of…of…ahem ahem. Anyway, these leave you poorer by around $10 or more, and there are people queuing up to pay. Porn sites had the foreboding that DVD sales would wane, and have also rolled out ‘video on demand’ services to adapt to the transforming user-base. 
 
Also, there are the actors, and the loyal fan-base they come with. While we don’t have any such event in India, in the US, UK, Australia and many other places special events are held where you could get to meet your favorite porn stars, click a selfie, and if you’re really polite and nice, even get to touch a body part. Passes to these shows are of course not free. There are also porn award programmes and the TV viewership they garner. 
 
Last but not the least are the major hotel chains like Marriott, Hilton and Westin to name a few. These bring serious money to the industry without ever a mention of the same in their official reports. Adult titles are available across the world as ‘in-room entertainment’ in most countries around the globe and a fare share of the money hotel guests pay goes to the studios. 
 
 Consider this reach across genres and the millions of independent artists who run their own websites (it costs nothing really, just a cam and a few spare dollars), and you might get an idea of how big this business actually is. 
 
However, the unwillingness to pay to have a good time is what is biting at the knees of this burgeoning industry. A lot of commercial porn studios blame the tube sites pick up ad revenue from page views. Fact is these sites at least pay royalty for the free porn billions view. 
 
Long story short, while the adult industry is not a license to mint money anymore, but where there is loyalty, there is money, and human lust never comes with a recession. 
 
Image credit: Indiatimes

This is how porn sites make money

Everyone wants to become rich as early as possible but what they lack is patience. Many people take the fast lane to build <keyword id="6383453" type="ORGANIZATION" weightage="20" keywordseo="Wealth">wealth</keyword> and many others adopt the slow lane. Both lead to wealth creation and <keyword id="25450" type="UNKNOWN" weightage="20" keywordseo="savings">savings</keyword> but many have argued that slow lane is better as you save more. In order to retire rich, you have to adopt one habit-saving. We all are aware that adopting tiny habits in our routine life helps us in living better lifestyle. Habits change the way we live and shape us as better human beings. If you want to change something in your life, start by making a simple step as a habit, just like <keyword id="4488107" type="UNKNOWN" weightage="20" keywordseo="chris-reining">Chris Reining</keyword> did. He used to send an automated mail to himself every morning which reminded him to greet everyone. This habit changed several things in his life. Another habit that changed his life forever is money related. By adopting this tiny habit, he saved millions and retired as a millionaire at the age of 37. In his <a href="https://chrisreining.com/tiny-habit/" data-type="tilCustomLink">blog</a>, Reining spoke about ‘hyperbolic discounting’ that helped him save money and retire rich. He says humans are wired to think about short-term gains than long-term and in order to become wealthy, this needs to be changed. Reining said one tiny habit to save wealth is -automating your money. “What you do is have money automatically sent from your paycheck to your retirement account. I recommend investing 10% of what you earn, which means the remaining 90% of your income goes to your bank account. But you can start with as little as $50. The key is to start saving for retirement rather than doing nothing because you’ll be better off than mostly everyone else,” suggests Reining. You can set up automation for how the money in your bank account gets used. You can divide your paycheck in three parts-Credit Card, Rent and Savings. Each month you can automatically pay your student loans, credit cards, and rent. You can automatically set aside money each month for savings. “I automated my money years ago and the benefit is I don’t have to make decisions about where my money should go,” he said. Reining became financially independent at 35 and then retired at 37.

This one tiny habit can help you save millions

You can be wealthy too, if you don’t let money control you. The thing about rich people is they know how to control money, which is one of the keys to become filthy rich. 
 Billionaires like <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, Bill Gates, Warren Buffet, etc have been raking in money and have been wise about spending and using it. They don’t make silly <keyword id="2032735" type="UNKNOWN" weightage="20" keywordseo="money-mistakes">money mistakes</keyword>, which general people often do. 
 
You have to be the captain of your own ship and in order to become filthy rich, you have to stop making certain money mistakes. 
 
These are the 7 silly money mistakes that rich people don’t make and you should avoid them too

These are 7 silly money mistakes rich people don’t make

Whatever be the domain in which you are interested, there are some common steps to start and run your business online successfully. Here is a set of seven sequential steps to starting your own online business. Watch Prajakta Koli and Armaan Malik share their experiences with YouTube program and you can also <keyword id="7654670" type="UNKNOWN" weightage="20" keywordseo="make-money-online">make money online</keyword> on YouTube. <div type="Video" msid="69524285" hostid="261" title="How To Make Money On YouTube | Prajakta Koli, Armaan Malik, Sucharita Tyagi | What’s What Ep 2" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=69524285"></div>
 Identify a need and check how you will fulfill it The right approach to starting a business is to find the market and then look for a product. Most people do the common mistake of first making a product and then searching for the market. When you first start with the market, you get to maximize the chances to make your business succeed. Identify a group of people who are looking for a solution to a problem but do not find any results. The internet makes conducting such surveys easy. Online forums are potential avenues to check what questions people ask and what problems they look forward to solving. Do keyword research and discover the keywords that many people are searching. It is highly useful to find those keywords for which many sites are not competing. Also, check out who are your potential competitors. Visit their sites and try to find out what they are doing to solve the problems they have identified in the market. You can then use the knowledge you have gathered to create a product for the market that exists. Spare efforts to do better than the existing competition. Write about your product and make your website Make a headline that will arouse the interest of your visitors online. Describe how your product will solve their needs or problem. Give testimonials from people who have already used your product. Talk about your product, make an offer and describe how your product will benefit the user. Make offers, guarantee the results and create urgency. This will make the ground for a potential sale of your product. State the unique points about your product and then create a website to publicize your product. Keep the website simple and ensure that it is customer friendly. Make use of the search engines to drive traffic to your website PPC advertisements show up on the search pages at once when the users are searching for something. PPC lets you test different headlines, keywords, selling strategies and prices. You get immediate traffic and you can also use your PPC advertisements to find out the keywords that ensure the best conversion rates. Make the best use of these keywords in your code and copy and work for getting better ranking for your site on the search engines. Adopt strategies like email marketing, back-end sales and upselling Opt-in lists help you create the most valuable assets to your online business. You have obtained the permission of your visitors to send emails. You have developed lifetime relationships with them and you can measure the responses 100 percent. Since email marketing is highly targeted, it is simple and cheaper too than other kinds of marketing strategies. Following up with your customers will maximize your chances to sell repeatedly. Backend selling and upselling are some useful strategies that will let them buy from you once again.

How to start a Business and make money online in India

Facebook reveues reached USD 17.93 billion in 2015, up from USD 7.87 billion in 2013! And this year, Facebook with its 1.59 Billion Users has humongous target to achieve. 
 
But everytime you login and engage yourself in chitchat and liking other’s posts, did you ever think how does this entity earn money? 
 
Here's how they do

How does Facebook make money?

Not having the capital needed must never stop you from realizing your entrepreneurial dreams. A clear vision of the right kind of strategies and confidence as your two wings, you can achieve a lot. Once you have covered them, getting the funds to support your dreams might not be as difficult as it might sound. Here is a step by step guide to starting your own business without money. Stay in your present job You will need a steady source of income before you can start your business. Never qit your present job before you are settled with your business. This approach will make you feel more secure and avoid the risks on the move. Spend some extra hours and work harder towards the transition. Develop a business idea The first step to becoming an entrepreneur is to work on a business idea. Before getting started, there are several steps you will have to take. However, developing a unique idea and finding out what value it will generate depending on the demand for it among the target audience will help determine if your idea will work. Identify the challenges Make a thorough market study and find out the competition. Look at the trends and find out the challenges your business might face. In the next step, decide how you will address those challenges and remain profitable. Find out your capital needs Find out how much capital you will need to start your business. Unless you have evolved a realistic valuation of your business, you cannot impress the investors and invite them to fund your business. Before working on how to raise the money, you must first evaluate the funding needs. Decide how much you will need to get started and how you will pool the finances. Raise the capital Crowdfunding platforms have helped a lot of entrepreneurs get the funding necessary for their business startups. Get people to invest in your business. Find out the right people who can help you out. Make the best use of social networking sites and online forums to discover some useful resources and tips to get your business to life. If you can impress some investors with your ideas, you will find generating the capital for your business easier than you had imagined. Make a trial run It is necessary to ensure if your business idea is unique. A trial run will help you develop the confidence needed and also mitigate the risks. They also help you take your ideas to the next level. Give away some freebies to select people in your target audience and check their response. The trial run helps you develop some useful insights about your business. Also gathering some reliable feedback will help you gain more knowledge on perfecting your business idea. Secure a loan if needed There are several avenues to securing small business loans. These programs aim at helping the first-time entrepreneurs to set up their business. Check if you meet the criteria specified by the loan granting agencies and qualify for a small business loan that can help you get started with your business.

How to start a Business without Money

Easiest ways to raise capital for your startup this 2017 
Any entrepreneur will let you know that raising money can be the hardest piece of starting your own business. While the competition for funds slowly builds every day, your odds of securing investors turn out to be fundamentally thin. Obviously, finding an investor isn't unimaginable. 
 
Here are a couple tips to raise capital this 2017 
 
Your money 
Tap into savings, home equity, or retirement accounts. It's risky, but don't expect that others will invest in your startup if you haven't put some of your own money in. Educated investors need to see founders show certainty with cash. They support entrepreneurs with more than "simply" sweat equity in the game. 
 
The Crowd Game 
An entrepreneur will set up a detailed description of his business on a crowd-funding platform. He will specify the goals, plans for making a profit, how much financing does he require and for what reasons, and so forth and after that consumers can read about the business and give money on the if they like the idea. Those giving money will make online vows with the guarantee of pre-buying the product or giving a donation. Anybody can contribute money toward helping a business that they truly believe in. 
 
The "Co" 
An alternative and more effective approach is to find a co-founder who has complementary capabilities in light of the business model you need to implement. In this manner your new venture would be more independent and would require you to hire less individuals right off the bat. If you are starting a technology company, ensure the founding team has solid technical skills. If the consumer space is of interest, make sure you have marketing experience. The core functions of your business should be secured by your founding team 
 
Toward the day's end, equity capital, or venture capital, is the most costly kind of capital you can raise. So just raise what you need and ensure you realize what will you use it for-- before you take it on.

Easiest ways to raise capital for your startup this 2017

<ul class="summary-list"><li>To make money on the side, you'll first want to figure out exactly how much money you want to make, and how much time you plan to spend doing it.</li><li>You might also want to consider <a href="https://www.businessinsider.com/best-side-jobs-to-make-extra-money-2018-7">choosing a side job</a> that uses the skills you have from your primary job, so you don't have to learn something new.</li><li>Once you decide what you want to do, it's up to you to keep on top of payments and taxes, to put the money you earn toward your most important goal, and to reassess regularly to <a href="https://www.businessinsider.com/side-hustle-waste-of-time-2019-2">make sure you're getting what you want</a> from your <keyword id="2873884" type="PERSON" weightage="60" keywordseo="side-job">side job</keyword>.</li></ul>Making money on the side — or having a <a href="https://www.businessinsider.com/easy-side-hustles-paid-student-loan-debt-2019-6">side hustle</a>, if you will — has become an industry in its own right.With student loan levels at all-time highs and an increasingly competitive job market, bringing in a little extra bacon with a side gig is a great way to stay on top of bills, pay down debt or, if you're lucky, help fund some of your dreams, like that European vacation, or a down payment on your first house.If you're interested in making some money on the side, here's how to go about it:<h2><keyword id="9789094" type="UNKNOWN" weightage="60" keywordseo="how-to-make-money-on-the-side">How to make money on the side</keyword></h2><h3>1. 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You'll likely want to find something that pays you a certain amount of money per hours spent on the job, even if your overall pay is in the form of a lump sum.You might not know exactly how long it will take to complete a side gig assignment until you get started, but it helps to do some preliminary math ahead of time and figure out just exactly what your time is worth, especially when this time is likely taking away from other things, like hanging out with family or friends or focusing on self care.<h3>3. Think about what the job will require</h3>Besides your time, a side job could require additional resources, as well. If your side job requires driving, you'll want to take into account the distance (and therefore time) to and from the job, as well as gas and wear and tear on your car. You may need to buy equipment, upgrade your Internet or phone service, or download computer programs. All of this should go into your consideration for an overall hourly wage that is acceptable to you, as well.<h3>4. Consider your skillset</h3>Arguably one of the easiest ways to make the most money on the side is to dig into a need that's not being filled within your current industry. Tapping into the skillset you already have through your job means you won't need to spend time or money learning how to do a new job, and you may even already have the resources at your disposal to find people looking for freelance or contract work within your field.<h3>5. Tap into resources</h3>If you decide to divert from your regular profession for your side job, that doesn't mean you need to reinvent the wheel. Plenty of websites allow you to search for jobs that would make good side options, and most even vet out any possibilities of scams, so you don't have to worry about that, either. <a href="https://www.indeed.com/find-jobs.jsp">Indeed</a>, <a href="https://www.monster.com/">Monster</a> and <a href="https://www.flexjobs.com/">Flexjobs</a> are all good places to start. You may also want to consider task-related jobs that are usually very flexible, like becoming a driver with <a href="https://www.lyft.com/drive-with-lyft?utm_source=google&amp;utm_medium=cpc&amp;utm_campaign=PAID_DAX_SRCH_US_DEN_WEB_DESK_BRND_LYFT_EXACT&amp;adgroup=become-lyft-driver_NA_NA&amp;utm_term=become%20a%20lyft%20driver&amp;device=c&amp;matchtype=e&amp;targetid=kwd-297363165589&amp;loc_physical_ms=9028710&amp;loc_interest_ms=&amp;network=g&amp;devicemodel=&amp;adposition=1t1&amp;campaign_id=1401312708&amp;ad_id=338478923230&amp;adgroup_id=55309829956&amp;placement=&amp;ref=DEN155013030P&amp;adname=AC-AG-AdRel-BRND-V7&amp;gclid=EAIaIQobChMI3Z_N0drf4gIVm7fACh3smAqpEAAYASAAEgJ3ffD_BwEel-BRND-V7&amp;gclid=EAIaIQobChMI3Z_N0drf4gIVm7fACh3smAqpEAAYASAAEgJ3ffD_BwE">Lyft</a>, completing chores for <a href="https://www.taskrabbit.com/?utm_source=pd_search&amp;utm_medium=ggl&amp;utm_campaign=Google_Search_Denver_Brand&amp;utm_content=9092997096&amp;utm_term=taskrabbit&amp;gclid=EAIaIQobChMIgbyax9rf4gIViLbACh3NygUEEAAYASAAEgJXifD_BwEEEAAYASAAEgJXifD_BwE">TaskRabbit</a>, or walking dogs with <a href="https://www.rover.com/?utm_medium=cpc&amp;utm_source=google&amp;utm_campaign=1413234866&amp;utm_content=60339143456_300623939434_EAIaIQobChMIifb84Nrf4gIVyMDACh1bsgMCEAAYASAAEgIc0fD_BwE&amp;utm_term=rover_e&amp;adwordslocation=9028710&amp;gclid=EAIaIQobChMIifb84Nrf4gIVyMDACh1bsgMCEAAYASAAEgIc0fD_BwEbsgMCEAAYASAAEgIc0fD_BwE">Rover</a>.<h3>6. Make yourself invaluable</h3>Once you decide to pick up a side job, the only way to really become profitable is to commit to it. Just like with your regular job, by making yourself invaluable to your side job customers, you'll be ensuring a steady stream of work for the foreseeable future. That means making deadlines and going above and beyond what's asked.<h3>7. Keep track of your payments and expenses</h3>Picking up a side job can become overwhelming quickly, if you aren't organized. Be sure to stay on track of the hours you're working and your income, and follow up promptly with any payments that don't come through when they are supposed to.Make sure you discuss with an accountant whether or not you need to make quarterly tax payments, as well as how much you should be saving from each paycheck to do so, if your taxes aren't taken out for you. Discuss any new things that might become write-offs, as well, like any equipment you need to purchase for your side job, or any classes you take to increase your skills.<h3>8. Be purposeful with your new income</h3>There's likely a reason that you wanted to use your free time to make some additional cash. Whether that was making more payments towards your student loans or other debts, or saving up for a down payment on a house, or to put towards a trip, put actions into place to make sure you don't spend that hard-earned money elsewhere. It's easy to do so if you set up direct deposits or automatic payments.<h3>9. Set a timeframe to reassess</h3>Give yourself some time to get adjusted to the side job you go with, but set a reminder to reassess in six or 12 months to see how things are going. Are you making as much as you'd hoped? Are you stressed out attending classes and working two side jobs? Have you become so wildly successful at your side job that you could maybe consider making it full time? Whenever you're dealing with your financial goals, it's always a good idea to reassess occasionally and to make any necessary changes to meet your goals while staying sane in the process.Related Content Module: More <keyword id="35448" type="ORGANIZATION" weightage="100" keywordseo="personal-finance">Personal Finance</keyword> Coverage

How to make money on the side, no matter how busy you are

Going the <a href="http://www.businessinsider.in/searchresult.cms?query=startup">startup</a> way is riskier but more straightforward than working a job. Here there’s no boss to decide what happens to you. You’re the boss. There are just 4 people who matter- you, your customers, your investors, and your co-founder. 
 
BI India lists how making money looks to <a href="http://www.businessinsider.in/searchresult.cms?query=startup">startup</a>s (with some help from the guys at Funders and Founders): 
 
· Find a product (or idea) that is popular but not yet perfect 
· Buy one and study it in detail 
· Figure out how to improve it 
· Make a prototype 
· Show the prototype to 100 people 
· Remake it until people are willing to pre-order (for example on Kickstarter) 
· Find a co-founder who can build it with you 
· Split the equity – give your co-founder 50%, but use a vesting agreement so that their share becomes worth more the longer they work on the company 
· Find an investor. This can be a person who has a lot of money (an angel investor) 
· Give her or him 10% of your company 
· Make the product 
· Sell your product to 1 Million people 
· Get more money (this time from VCs) 
· List your company on stock exchange (this is after you’ve either raised a lot of money or have a lot of revenue, or better yet profit) 
· Sell a lot of shares when you list on <a href="http://www.businessinsider.in/searchresult.cms?query=stock+exchange">stock exchange</a> 
· Then just wait out the cooling off period (about 6 months) and you will have your money 
 
Image credit: Funders and Founders

This is how startups make money

<div class="KonaFilter image-container display-table"><div><div class="image on-image">YouTube/Linus Tech Tips</div></div></div>Welcome to Crypto Insider, Business Insider's roundup of all the bitcoin and cryptocurrency news you need to know today. Sign up <a href="http://e.businessinsider.com/join/crypto-insider?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">here to get this email delivered direct to your inbox</a>.A new company that lets people mine cryptocurrencies through a subscription service has announced plans to list on the London Stock Exchange, a first for the exchange.Argo Blockchain said in a statement on Monday that it hopes to raise 20 million pounds in the listing and expects to be valued at around 40 million pounds.<a href="https://twitter.com/AdHocEmilie/status/1006197163125288960"> Argo says it will be the first crypto-mining company to join London's stock market.</a>Here are the <a href="http://markets.businessinsider.com/cryptocurrencies?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">current crypto prices:</a><a href="http://markets.businessinsider.com/cryptocurrencies"><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://markets.businessinsider.com/cryptocurrencies">Markets Insider</a></div></div></div></a>In the news:<ul><li><a href="http://markets.businessinsider.com/news/A-crypto-mining-company-is-listing-on-the-London-stock-market-1026832929" target="_blank" rel="noopener">A crypto mining company is listing on the London stock market</a></li><li><a href="http://markets.businessinsider.com/news/A-small-startup-is-developing-a-tool-to-make-money-from-insane-cryptocurrency-spreads-and-hedge-funds-are-interested-1026830174" target="_blank" rel="noopener">A small startup is developing a tool to make money from 'insane' cryptocurrency spreads - and hedge funds are interested</a></li><li><a href="http://markets.businessinsider.com/news/A-hacker-made-120-000-hunting-for-bugs-in-the-flawed-software-of-a-cryptocurrency-startup-that-raised-a-record-breaking-4-billion-ICO-1026819666" target="_blank" rel="noopener">A hacker made $120,000 hunting for bugs in the 'flawed' software of a cryptocurrency startup that raised a record-breaking $4 billion ICO</a></li><li><a href="http://www.businessinsider.com/fidelity-the-conservative-wealth-management-firm-shut-down-a-crypto-fund-after-a-slew-of-bitcoin-staff-departures-2018-6">A crypto prop fund at Fidelity shows how the money manager is surprisingly one of the most active Wall Street firms in bitcoin</a></li></ul>New to Crypto Insider? Business Insider has a ton of articles to get you caught up to speed, including:<ul><li><a href="http://www.businessinsider.com/tech-finance-coinbase-buy-sell-trade-bitcoin-app-coinbase-2017-1?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">How to buy and sell major cryptocurrencies using Coinbase on your iPhone</a></li><li><a href="http://www.businessinsider.com/how-to-buy-ripple-xrp-a-step-by-step-guide-2018-1?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">How to buy Ripple's XRP</a></li><li><a href="http://www.businessinsider.com/finance-veteran-matt-hougan-explains-why-wall-street-isnt-diving-into-bitcoin-2018-2?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">An ETF veteran who ditched Wall Street for crypto explains how bitcoin can fit into a portfolio</a></li><li><a href="http://markets.businessinsider.com/cryptocurrencies?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Track the price of nearly two-dozen cryptocurrencies here</a></li></ul>What other questions do you have about crypto? Ask them in Business Insider's <a href="https://www.facebook.com/groups/BI.CryptoInsider/" target="_blank" rel="noopener">Crypto Insider Facebook group</a> today to discuss with readers from all over the world, as well as BI editorial staff. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/spyce-restaurant-uses-robotic-kitchen-cook-food-three-minutes-fast-casual-boston-2018-5">Four MIT graduates created a restaurant with a robotic kitchen that cooks your food in three minutes or less</a></h3> <div> </div> </div>

CRYPTO INSIDER: London's stock exchange is getting its first mining company

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Carl Court / Getty Images</div></div></div><ul><li>Jump Trading is making crypto a big focus in 2018 for its venture arm Jump Capital in 2018. </li><li>An innovation lab based at the University of Illinois Urbana-Champaign is playing a role in the firm's crypto efforts. </li></ul>Jump Trading is making cryptocurrency a big focus for its venture arm in 2018, and is bringing in college kids as part of the effort. The secretive Chicago-based trading firm actively trades digital currencies, while Jump Capital, a venture capital investor, has put money into a number of crypto infrastructure companies.Both Jump Trading and Jump Capital are behind a lab at the <a href="http://illinois.edu/">University of Illinois Urbana-Champaign</a>, and it's a key part of their crypto efforts. The lab, which has been in existence for a few years but hasn't yet been reported on, brings in personnel from Jump Trading and Jump Capital, students, professors, and post-docs to work on cutting edge research for Jump and its portfolio companies. Some students are working on projects relating to cryptocurrency.Peter Johnson, the go-to crypto guy at Jump Capital, told Business Insider that cryptocurrency will be an even bigger focus for the firm in 2018.<a href="http://www.businessinsider.com/rockstars-cryptocurrencies-bitcoin-mainstream-financial-services-2018-3"> Johnson was recently named to Business Insider's list of cryptocurrency pioneers.</a>Those projects are tackling questions such as "how do you issue securities onto the blockchain" and "how can we improve trading," Johnson said. A best case scenario for those crypto-project is for them to become independent companies. "We want it to be a launch pad," Johnson said. In addition to the lab, Johnson said Jump is looking to invest in more cryptocurrency companies. "We are invested in a few companies," he said. "But it's going to be a big focus going forward." A number of trading firms have dove into the crypto space include DV Trading, Hehmeyer Trading, Virtu Financial, and Jump Trading.These companies, which make more money trading in volatile markets, have been attracted to the spine-tingling price moves in crypto markets, a space where 20% dips are par for the course.<a href="http://www.businessinsider.com/a-partner-at-one-of-the-top-bitcoin-trading-firms-told-us-why-crypto-is-such-an-amazingly-fun-space-to-be-in-2017-12">Arbitrage opportunities in crypto have been particularly mouth-watering.</a> Bitcoin and other cryptocurrencies can trade at wildly different prices on any given exchange, giving traders the opportunity to buy low on one venue to then sell high on another.<h2><a href="http://www.businessinsider.com/rockstars-cryptocurrencies-bitcoin-mainstream-financial-services-2018-3?r=teaser">Subscribe to read our BI Prime list of the traders, investors, and technologists pioneering crypto on Wall Street.</a></h2><a href="http://www.businessinsider.com/intelligence/bitcoin-101?IR=T&amp;utm_source=businessinsider&amp;utm_medium=ctgr&amp;utm_term=ctgr_leadgen&amp;utm_content=fintech_ctgr_leadgen&amp;utm_campaign=fintech_ctgr_leadgen_bitcoin-101"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/facebook-stock-price-data-protection-privacy-regulation-2018-4">Facebook's recent struggles have investors in a panic - and looming regulation could forever change how it does business</a></h3> <div> </div> </div>

A secretive high-speed trader is providing college kids with a 'launch pad' to build cryptocurrency companies

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Thomson ReutersThe logo of blockchain company Ripple is seen at the SIBOS banking and financial conference in Toronto</div></div></div>Welcome to Crypto Insider, Business Insider's roundup of all the bitcoin and cryptocurrency news you need to know today. Sign up <a href="http://e.businessinsider.com/join/crypto-insider?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">here to get this email delivered direct to your inbox</a>.Ripple, the company behind the cryptocurrency XRP, announced a new $50 million fund to finance university research into blockchain and cryptocurrency technologies. <a href="http://markets.businessinsider.com/currencies/news/ripple-blockchain-research-fund-universities-2018-5-1026429521">Here's what you need to know. </a>Here are the <a href="http://markets.businessinsider.com/cryptocurrencies?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">current crypto prices:</a> <div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://markets.businessinsider.com/cryptocurrencies">Markets Insider</a></div></div></div>In the news:<ul><li><a href="http://www.businessinsider.com/a-stock-exchange-behemoth-is-powering-crypto-markets-across-the-world-2018-6">A stock exchange behemoth is powering crypto markets across the world</a></li><li><a href="http://www.businessinsider.com/a-stock-exchange-behemoth-is-powering-crypto-markets-across-the-world-2018-6"></a><a href="http://www.businessinsider.com/capital-funds-law-group-john-lore-cryptocurrency-hedge-fund-trends-2018-6">A top crypto hedge fund lawyer explains the 4 main trading strategies that funds use to make money</a></li><li><a href="http://markets.businessinsider.com/news/A-startup-just-closed-a-huge-4-billion-ICO-but-the-crypto-fundraising-method-is-absolutely-and-unequivocally-slowing-down-1026458916" target="_blank" rel="noopener">A startup just closed a huge $4 billion ICO - but the crypto fundraising method is 'absolutely and unequivocally slowing down'</a></li></ul><div>New to Crypto Insider? Business Insider has a ton of articles to get you caught up to speed, including:</div><ul><li><a href="http://www.businessinsider.com/tech-finance-coinbase-buy-sell-trade-bitcoin-app-coinbase-2017-1?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">How to buy and sell major cryptocurrencies using Coinbase on your iPhone</a></li><li><a href="http://www.businessinsider.com/how-to-buy-ripple-xrp-a-step-by-step-guide-2018-1?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">How to buy Ripple's XRP</a></li><li><a href="http://www.businessinsider.com/finance-veteran-matt-hougan-explains-why-wall-street-isnt-diving-into-bitcoin-2018-2?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">An ETF veteran who ditched Wall Street for crypto explains how bitcoin can fit into a portfolio</a><a href="http://www.businessinsider.com/how-to-buy-ripple-xrp-a-step-by-step-guide-2018-1?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener"></a></li><li><a href="http://markets.businessinsider.com/cryptocurrencies?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Track the price of nearly two-dozen cryptocurrencies here</a></li></ul>What other questions do you have about crypto? Ask them in Business Insider's <a href="https://www.facebook.com/groups/BI.CryptoInsider/" target="_blank" rel="noopener">Crypto Insider Facebook group</a> today to discuss with readers from all over the world, as well as BI editorial staff. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/prevent-stop-robocallers-spam-calls-2018-5">How to stop robocallers</a></h3> <div> </div> </div>

CRYPTO INSIDER: Ripple donates $50 million to schools for blockchain research

<ul class="summary-list"><li>Miss Teen <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">Crypto</keyword> says Gen Z could push <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> mainstream once they understand and adopt it.</li><li>She began investing in crypto at 16 with her pocket money, after her dad introduced her to bitcoin. </li><li>Digital-native teens could easily dive into NFTs, once they understand the financial side, she said. </li></ul>Miss Teen Crypto, a cryptocurrency influencer who started investing her pocket money into <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-a13e05b9-7fff-39e6-0e15-902b49ed3378">bitcoin</a> when she was 16, told Insider she believes Gen Z could be the catalyst to take crypto and NFTs into the mainstream, if someone would just explain the benefits and how they work. The 18-year-old, who has tens of thousands of followers across the major social-media platforms, believes her digital-native generation could easily understand the digital side of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-dbae16bf-7fff-594b-8152-46412839e2fb">crypto</a>, but not the financial side - but more education could fix that. "I think that Gen Z - we're a little behind in terms of the financial aspect, but we're not behind in terms of technology," she told Insider in an interview. "We've been on Snapchat since it came out, we've been on the internet our whole lives. So we know the concepts of digital property, we understand how to use this technology," she said. "We just have to be educated on why we should and how we could." Her first investment, at 16, was around $200 saved up from her pocket money and birthday gifts. Her dad had got involved with bitcoin and crypto five years before that, when she was 13 - but at that time, she paid no attention to his passion. "I was just tuning out. I was like, 'This is boring, I don't want to hear about it,'" she said. "But then a few years after, he actually showed me how a bitcoin transaction worked." When the New Yorker saw that bitcoin transactions were easily carried out on her phone, she recognised bitcoin's potential, both in terms of investing and changing the world, she explained. The crypto HODLer - who grew up Randi Hipper but is known by @MissTeenCrypto on Twitter, her podcast and Instagram - has seen others have the same experience when she has talked to them about crypto and bitcoin. Her high-school peers knew as little as her teachers about the assets, and 95% of the people she has talked to at Times Square have never heard of them. Non-fungible tokens, or <a href="https://www.businessinsider.com/non-fungible-tokens-nfts-have-taken-over-heres-why-theyre-important-2021-4">NFTs</a>, are a great way for young people to realise crypto's potential, the influencer believes. These are unique <keyword id="135689" type="PERSON" weightage="60" keywordseo="digital-assets">digital assets</keyword> - such as image, video or audio files - that are built and stored on blockchain technology. As they cannot be duplicated, so they can be Collectable and hold value. The key advantages, she said, are that anything can be turned into an <keyword id="4668945" type="PERSON" weightage="60" keywordseo="nft">NFT</keyword> - from digital art, to music, to "your high school diploma" - and everything is documented on blockchain. There are also no age limits to creating them. "Especially with Gen Z, we could take the space and run with it," the crypto fan said. "It's just amazing. I think NFTs could be everything," she added. All that is needed for a wider adoption of <keyword id="6368079" type="UNKNOWN" weightage="60" keywordseo="Crypto-assets">crypto assets</keyword> is more education, she argues. That could spark a digital revolution that goes beyond finance, she said, bringing changes to not just the financial system, but also to the way people interact and make transactions work. "We have to be able to reach more people and educate more people, which is what my mission is,"she said. "I'm trying to use social media, and I'm trying to make more educational content just to reach more Gen Z - because it really is the education that matters." <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works</a> <a href="https://www.businessinsider.in/cryptocurrency/news/here-is-why-a-ban-on-cryptocurrencies-may-not-be-even-possible/articleshow/82741310.cms">Is a ban on cryptocurrencies even possible?</a> <a href="https://www.businessinsider.in/cryptocurrency/news/latin-america-and-south-asia-show-two-ends-of-the-crypto-regulatory-spectrum/articleshow/83638437.cms">Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies</a>

A teen crypto influencer who started by investing her pocket money into bitcoin says Gen Z could make crypto go mainstream - once they understand its benefits

<a href="https://www.businessinsider.com/master-your-money"></a><div type="image" title="A hand placing coins into a crypto wallet, surrounded by cryptocurrency symbols including Bitcoin and Dogecoin" height="834" width="1668" msid="87341472" hostid="261"></div><ul class="summary-list"><li>A crypto wallet is a device or program that allows you to transfer and store <keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword>.</li><li>There are different types of crypto wallets, such as paper wallets, hardware wallets, and software wallets.</li><li>A crypto wallet's security depends on how the private key is stored.</li></ul>You can't fold up a bitcoin and put it in your wallet. Yet you can hold the keys to your crypto by using a crypto wallet of your own. A crypto wallet is a software program or physical device that allows you to store your crypto and allow for the sending and receiving of crypto transactions. A crypto wallet consists of two key pairs: private keys and public keys. A public key is derived from the private key and serves as the address used to send crypto to the wallet.Quick tip: Wallets have many public keys. This means that you can give out multiple different public addresses and use them to receive crypto to the same wallet.The important part of a wallet - and the part where new users often find themselves getting into trouble - is the private key. A private key is like the key to a safe deposit box. Anyone who has access to the private key of a wallet can take control of the balance held there.But unlike a safe deposit box, crypto users who hold their own private keys and make transactions using non-custodial wallets (i.e., a wallet not hosted by an exchange or other third-party) become their own bank. "It is similar to a bank account but the main difference is it is controlled by a key that only you control. You use this [private] key to initiate transactions, which is called 'signing,'" says Joel Dietz, founder of <a href="https://artwallet.co/" target="_blank" rel="noopener">Art Wallet</a> and contributing developer to <a href="https://metamask.io/" target="_blank" rel="noopener">MetaMask</a>.While the idea of crypto itself is still new to many people, crypto wallets themselves are designed to be user-friendly. Web wallets like MetaMask and desktop wallets like Electrum come with a graphical user interface (GUI) that is made to be as simple as possible.<h2>Understanding how crypto wallets work </h2><a href="https://www.businessinsider.com/what-is-blockchain" target="_blank" rel="noopener">Blockchain</a> is a public ledger that stores data in what's known as "blocks." These are records of all transactions, the balances held at any given address, and who holds the key to those balances. Crypto isn't stored "in" a wallet, per se. The coins exist on a blockchain and the wallet software allows you to interact with the balances held on that blockchain. The wallet itself stores addresses and allows their owners to move coins elsewhere while also letting others see the balance held at any given address.Quick tip: When sending a crypto transaction, always make sure you're sending to an address for a wallet of the same type of cryptocurrency. If you send Bitcoin (BTC) to a Bitcoin Cash (BCH) address, for example, those funds will be lost forever."Most Crypto wallets allow users to send, receive, and store crypto. Some have a feature to buy and spend cryptocurrencies," says <a href="https://www.linkedin.com/in/utsavdar/" target="_blank" rel="noopener">Utsav Dar</a>, co-founder of <a href="https://incubate.finance/" target="_blank" rel="noopener">Incub8 Finance</a>. "Certain crypto wallets have additional features like swapping between tokens, staking tokens for a fixed return paid out to users, as well as access to dApps (decentralized applications) built on various networks."While each wallet has its own specific nuances, here are the general steps involved in sending or receiving funds using a crypto wallet:<ul><li>To receive funds, you need to retrieve an address (also known as a public key) from your wallet. Locate the "generate address" feature in your wallet, click it, then copy the alphanumeric address or QR code and share it with the person who wants to send you crypto.</li><li>To send funds, you need the address of the receiving wallet. Locate the "send" feature in your wallet and enter an address of the wallet you intend to send coins to. Select the amount of crypto you'd like to send, and click "confirm." Consider sending a small test transaction before sending large amounts of crypto. Note that sending coins requires a fee that will be paid to miners in exchange for processing the transaction.</li></ul>Sending money via QR codes or long strings of numbers and letters may seem strange at first. But after doing it a few times, the process becomes quite simple.<h2>Types of crypto wallets </h2>Crypto wallets fall under two general categories: software wallets and hardware wallets.Software wallets are simply desktop programs or browser extensions that make it easy for people to send, receive, and store crypto. Hardware wallets serve a similar purpose but are physical devices that can be plugged into a computer.Software wallets are sometimes called "hot" wallets because the funds are kept online. Hardware wallets keep private keys held offline or in "cold" storage. <h3>Hardware wallets</h3>A hardware wallet is a small device that can store crypto offline. "A hardware wallet keeps your keys off of your phone or computer," saya Dietz. "Usually, you plug in the hardware wallet from a USB port. This is much more secure because all of the signing happens off of your computer." The typical hardware wallet costs around $100, give or take. These tend to be slightly more complicated to use than software wallets.Most hardware wallets interact with a computer in one of three ways:<ul><li>A web-based interface</li><li>A company-created app</li><li>A separate software wallet</li></ul><h3>Software wallets</h3>Related Article Module: The best Bitcoin wallets for storing and securing your cryptocurrencyA software wallet is a computer program or mobile app that holds private keys online. Software wallets are unique to each cryptocurrency while hardware wallets often support multiple currencies (more on these differences later)."[Software wallets] can either be used on the web, in which case they are custody wallets, which aren't completely secure. Or they [can come] in the form of apps that can be installed on a phone/laptop, in which case the private keys are stored on the local device," says Dar. "These may be connected to the internet, again making them less secure."​​Quick tip: When using software wallets, be sure to create backups on a regular basis. If a problem occurs with your web browser or hard drive, you could lose the private keys to your wallet, resulting in permanent loss of funds.The three main types of software wallets are:<ul><li>Web-based wallets, like MetaMask, which work as a browser extension and can send ETH transactions, making it easy for users to interact with things like decentralized applications and decentralized finance (DeFi) protocols </li><li>Desktop wallets, such as the Electrum wallet, that can be used on a desktop or laptop computer</li><li>Mobile wallets, such as the Blockchain.com wallet, that allow users to store crypto, send/receive transactions, and "sweep" the private keys of an existing wallet into the app by scanning a QR code on their smartphones</li></ul>Each type of crypto wallet has its own use case depending on the goals of the user, although they all accomplish the same things. Quick tip: Paper wallets are another way to store your private keys. But the creation and use of paper wallets comes with a high risk of user error, and is too dangerous for storing any significant amount of crypto. It's generally advised to use other kinds of crypto wallets. <h2>Pros and cons of crypto wallets </h2>Some pros of using non-custodial crypto wallets include:<ul><li>Self-ownership of money. If you hold your own private keys, then that crypto belongs to you and only you. By comparison, money in a bank is technically property of the bank.</li><li>The ability to send transactions to whomever you like, whenever you like. Decentralized cryptocurrencies are censorship-resistant because no one controls the network, making it hard for anyone to stop transactions. </li></ul>Some cons of using crypto wallets include:<ul><li>User responsibility. Becoming your own bank means you have to assume 100% liability for anything that goes wrong.</li><li>Learning curve. Using a crypto wallet requires a basic level of computer knowledge in addition to getting familiar with a new kind of financial ecosystem.</li></ul><table style="border-collapse: collapse; width: 100%;" border="1"><tbody><tr><td style="width: 50%;">Pros</td><td style="width: 50%;">Cons</td></tr><tr><td style="width: 50%;"><ul><li>Self-ownership of money</li><li>Censorship-resistant transactions</li><li>Quick and easy access</li></ul></td><td style="width: 50%;"><ul><li>User responsibility</li><li>Learning curve</li><li>Chance of making mistakes</li></ul></td></tr></tbody></table><h2>The financial takeaway</h2>The answer to the question "what is a crypto wallet" is that it's like a crypto bank account that only you control. Software wallets are built for convenience while hardware wallets are built for security. To get started, you should research what wallet types work best for you. Research the options available to you, including cost and security.Those interested in going a step further can invest in a hardware wallet since doing so is one of the best ways to take ownership of your own private keys. Learning to use these might take a little longer for beginners, but doing so could be worth it for the added security. For those holding large sums of money in the form of cryptocurrency, most experts agree that using a hardware wallet is a must.<a data-type="610ae71ab0b35f330c4d0734">Altcoins are the alternative digital currencies to bitcoin - here's what they are and how they work</a><a data-type="61143d4737043a45f7070cd8">Digital assets are becoming the new normal - here's how to buy cryptocurrency</a><a data-type="613fc21a37043a76c60803d3">Ready to invest in Bitcoin? Here are 4 steps to get started</a><a data-type="611446ec37043a480114bb24">What to know about non-fungible tokens (NFTs) - unique digital assets built on blockchain technology</a>

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