In this Coinbase vs CEX.IO comparison, you’ll find an in-depth view of the offered features, how they compare, and which service best suits your needs.

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Coinbase vs CEX.IO, How do they compare?

There are a number of reasons why you might consider using either service.

If you’re just looking to get started, both have easy buy options. The ease of use is where Coinbase shines. However, if you want a more elegant solution to step up your trading needs, CEX.IO is a better choice.  Coinbase really makes it easy for the first time user while CEX.IO add in some more advanced features to take advantage of.

CEX.IO is a company with deep roots in the industry and they’ve focused on creating an exchange loaded with features for the intermediate investor. The easy buy and sell options will appeal to cryptocurrency newcomers, and allows for the purchase of currency from the company directly and sell it back to them. This is a tidy option if you don’t want to spend time learning to trade on the market. It costs a premium in the form of fees compared to standard market rates but this is pretty standard across the industry, especially when using a credit or debit card.  

More knowledgeable users get on well with the CEX.IO platform. You can trade multiple cryptocurrencies on the open markets. This is useful for those wanting to execute high-volume trades with lower fees. There are even a margin trading features to help maximize (or minimize..) profits.

Coinbase is a similar platform to CEX.IO but offers less advanced features. The Coinbase team has developed one of the most recognizable brands in the blockchain industry thanks to their user-friendly design.

The service makes buying and selling Bitcoin and Ethereum a cinch. You can whip up an account and order your cryptocurrency almost instantaneously. Similar to CEX.IO, you can purchase using a credit card for a higher fee. It’s recommended you take the time to do a bank transfer for cheaper rates.

There is no open market trading available directly through Coinbase. You need to work with the sister company GDAX for more advanced features. Beginners might like this as it poses less intimidating options from within the platform.

Customer Support

Customer support can be a bit hit and miss across the cryptocurrency industry as a whole. For most exchanges, you can find both glowing reports and damning reviews. This can often be due to the userbase not understanding cryptocurrencies and the amount of support required is overwhelming, or simply just the mark of a developing industry.

CEX.IO generally provide support over email. Their team is usually prompt in replying to any queries and the service runs smoothly. The FAQ and help centre is particularly pleasing as many companies just pay lip service to the area. There is a wealth of helpful information including helpful guides to subjects like margin trading.

Coinbase has a pretty convenient customer service operation too. You’ll need to contact the company via email. Response times are anywhere between 24 to 72 hours depending on the nature of your query. The website is relatively helpful with a decent support centre and a few introductory guides. The homepage feels aimed at new cryptocurrency buyers. It’s simple and straightforward, limiting the margin of error significantly when compared to more robust exchanges. 

Both Companies are Trusted in the Industry

Coinbase was launched in 2012 and has seen plenty of ups and downs in the industry from its San Francisco home. It is a really well-known name and probably one of the first places new users find when looking buy Bitcoin. The company responds to and works within regulations that are creeping into cryptocurrency. Notable backers of the company include Reddit Co-Founder, Alexis Ohanian, and Bank Of Tokyo.

CEX.IO has been in operation since 2013. It spawned out of the first ever cloud mining service to create a trusted exchange. Originally it ran both features, but in recent years they have dropped cloud mining to focus on the exchange. Using London as a base, it is a fully registered legal company that provides cryptocurrency trading for users across the globe. Naturally, it is particularly convenient for European users.

Security

It’s no secret there is a history of security issues with cryptocurrency, especially when it comes to massive piles Bitcoin. Both of these companies have been around for a few years which is always a nice factor. They have both had plenty of experience in building a secure platform.

CEX.IO is not as open with their security methods as other companies. Many exchanges, including Coinbase, take pride in telling you how safe your funds will be. CEX.IO uses cold storage, meaning your funds would be stored offline and away from hackers. Two-factor authentication is also in operation which stops your account being accessed with just a single password. This is a particular feature I always look for and should really be a standard feature with any financial account. It would be nice to access more information on the CEX.IO security, if just for peace of mind.

Coinbase uses notable security methods and is very upfront about how your funds are kept safe. They also use two-factor authentication on every account. The bulk of funds are in cold storage spread between vaults and safety deposit boxes around the world. Any online funds are insured by a Lloyds of London syndicate, a reassuring touch.

Fees

Fees can vary dramatically from company to company. It is important to pay attention to how you are buying cryptocurrency as some methods can be painfully expensive.

CEX.IO offers various ways to do business. You can use the easy buy and sell feature but this has a 7% markup on market prices. If you choose to pay with a credit card you will be hit with another 3.5% fee. Expensive yes, but it’s not unusual to see upwards of a 10% fee from companies when you buy with a credit card.

You are able to deposit funds via a bank transfer which is far more cost-effective, especially if you are trading on the exchange for a 0.2% fee. It might take a little longer to set up but it will save you a fair few quid on large orders.

Coinbase gives clear information on fees for the user. Credit Card purchases run a cost of 3.99% and buy transactions have a 1.49% fee. Free bank transfer deposits will help to rid those pesky credit card fees.

Cryptocurrencies Supported

Both companies offer an adequate range of cryptocurrencies to buy and sell. Coinbase supports the buy, sell, and storage of Bitcoin, Ethereum, and Litecoin.

CEO.IX has a slightly more expanded range to trade. You can pick from Bitcoin, Bitcoin Cash Ethereum, Dash and Zcash. The omission of Litecoin can be a little frustrating.

Coinbase vs CEO.IX Comparison Summary

So, all in all, there are some very similar offerings from the two platforms. Both have an appeal for new users to get hold of various currencies almost instantly.

CEX.IO is clearly a little more feature rich and suits people looking to do a bit more than just buy to hold. The trading options are decent and you can work with low fees if you are willing to use the trading exchange.

Coinbase is super easy to understand for new buyers and is a simple option if you want to start building a cryptocurrency portfolio. The user-friendly interface of Coinbase simply is yet to be beaten by any platform out there.

Europeans might prefer CEX.IO as they make it painless for Euro bank account holders whilst North Americans might be happier with the US-based Coinbase.

The post Coinbase vs CEX.IO Comparison appeared first on CoinCentral.

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Comparing the Features of Coinbase and Coinmama

If you’re trying to decide on whether to use Coinbase or Coinmama, you’re most likely dipping your toe into the world of cryptocurrencies to see what all the fuss is about. If you’ve been doing a bit of research, then Coinbase will probably come up as a regular option to buy Bitcoin. This is because Coinbase is very beginner-friendly, and Coinbase has become a leader in the cryptocurrency exchange space. However, Coinmama may also stand out as a quick and simple option with few complications.

So what is the real difference between the two? Is it just price or is there something more to it?

Both companies really do provide easy cryptocurrency buy options that are almost instantaneous. With a quick account setup and no verification, you can buy Bitcoin and Ethereum in low amounts on a credit card.

For larger buys, you will need to go through standard verification checks with both platforms. These are pretty usual in the industry and are done electronically with a form a photo ID.

The big differences you will notice come when comparing the rest of the features offered

Coinmama very much presents itself as a quick buy option, but they only allow you to buy digital currency via credit or debit card. This means that once you acquire Bitcoin or Ethereum, there is not much else you can do on the Coinmama site. You can’t sell or trade through Coinmama, and there are also no wallet facilities provided. This means you will have to choose a secure storage method elsewhere before buying your cryptocurrency.

With Coinmama you simply pay with your payment method of choice and they send funds to your wallet. You might be thinking, ‘ok great what more do you need?’ Well, maybe not a lot but if you are looking for a more rounded platform, then Coinbase could be a better fit.

To start with, Coinbase provides a greater selection of buy options. Along with credit card, you can make a bank transfer into your Coinbase account. This balances the options available between convenient speed or lower fees. Secure wallet services complement these buy options so you can purchase and store your funds in a single Coinbase account.

Another string to the Coinbase bow is the ability to sell cryptocurrency back through the site, which is a beginner friendly way to trade or ‘cash out’ your funds. Of course, you need to be aware that they are effectively a currency exchange at this point so the rates won’t be as favorable as the open market price.

On the face of it, Coinbase might look a bit more daunting and complicated but they do offer a full cryptocurrency solution compared to Coinmama. Coinmama give you a quick buy solution that might work for if you already have a wallet ready to go elsewhere.

When using the platforms Coinbase does feel like a powerhouse of the industry whereas Coinmama is a bit like a ‘lite’ version of the two.

Customer Support

Customer support is still a bone of contention in the industry with many companies leaving this as an unaddressed area.

Neither company is particularly easy to get hold of on the telephone so you are generally better sticking to email. Coinbase offers customer support via email and usually is pretty responsive within 24 – 72 hours depending on the nature of your query. Their website is quite helpful with a few introduction guides and a support centre that answers most of your major questions.

Coinmama looks to reply to any emails within 24 hours but their website support is a little lightweight. Like a lot of cryptocurrency sites, they walk you through how to buy their product but then there is little else to appease your questions and concerns.

Both Companies Are Trusted by the Community

Coinbase remains a longstanding name within the cryptocurrency world, and has cemented its reputation as early adopters and is now starting to penetrate the wider public. Brian Armstrong and Fred Ehrsam launched the company in the summer of 2012, originally providing an exchange for more professional Bitcoin traders.

Coinmama is a property of NBV International s.r.o. – a daughter company of New Bit Ventures Ltd and use Bratislava, Slovakia, as a base. It’s a little tricky to find massive details about Coinmama. On a quick google search, you can see a few ‘Coinmama Scam’ type headings. These are nervy on the face of it but happy customers and reviews (including Coinmama’s review) soon dispel the questions.

Safe and Secure

Security is a core component of any great exchange platform. Coinbase industry-leading security while Coinmama does not go to quite such extents.

Coinbase combines its easy to use service with top-tier security. They use offline storage methods and two-factor authentication meaning your account can’t be accessed with just your regular password.

Coinmama does not need such stringent security as you will not be holding funds in a wallet on your account. They do use trusted security and have a decent reputation. They have Trust Guard and Comodo security specialists confirming that 256-Bit SSL encryption is actively used on pages that contain private information.

Coinmama does not currently offer two-factor authentication. It’s a little worrying that someone could gain access to your account, so be sure to choose a strong password. It’s pretty much a given that financials should use two-factor authentication these days.

Fees

Both Coinbase and Coinmama offer the use of credit cards, but this comes at a price. The fee with credit card purchases is 4%, which can become quite chunky for larger Bitcoin purchases. It’s recommended to deposit money from your bank into your Coinbase account, which will come with a 1.49% fee.

Coinmama, by their own admission, is a little heftier when it comes to fees, but that’s a price you pay for convenience. We’re happy to pay more for quick food delivery why not Bitcoins? The price you see on our their Bitcoin rate includes a fee of 6.15%. That’s the markup on the market rate. The credit/debit card transactions is a 5% fee which is added once you have chosen payment method.

The real comparison here is Coinbase’s 3.99% card fee against Coinmama’s 5% card fee.

Available Cryptocurrencies

Coinbase has an advantage of providing Bitcoin, Litecoin, and Ethereum on their platform. If you’re looking to create a portfolio of strong digital currencies, this is a pretty solid foundation to get started.

Coinmama on the other hand only provides Bitcoin and Ethereum purchases. If you are just looking to get yourself started then that is not too much of a problem. You’re not tying yourself into a certain wallet provider with Coinmama so you can switch it up in the future if need be.

Coinbase vs Coinmama: Final Thoughts

There is validity and trust to both platforms when it comes to buying cryptocurrency. There will also be a larger fee if you are looking to buy with a credit card, but as I said that’s the price you pay for convenience.

Coinbase is a more rounded option once you have made your purchase and you can perfectly happily use them for all your major cryptocurrency dealings whether you are buying to hold or to use.

Coinmama does what it says on the tin. You can quickly and easily get hold of Bitcoin or Ethereum and send your funds off into your chosen wallet solution. This could be a better option if you are using a hard wallet rather than transferring in and out of Coinbase.

The post Coinbase vs Coinmama Comparison appeared first on CoinCentral.

MyEtherWallet is primarily an Ethereum and token wallet generator.

The website offers an open-source Ethereum wallet that allows users to interact with the Ethereum blockchain directly from a web browser.

You can enable the wallet directly via computer hard disks or a hardware wallets for extra security.

In this MyEthereumWallet review, you will find out about what the wallet offers and whether it is suitable for what you’re looking for.

Public Opinion

There are generally two very contrasting viewpoints when it comes to MyEtherWallet.

On one hand, hardcore cryptocurrencies users generally offer MyEtherWallet their high praises. Some hardcore Ethereum fans say they could not live without the application as it is essential to the adoption of Ethereum. Since it’s a free and open wallet that supports Trezor and Nano hardware, most bases are covered. The in-depth functionality coupled with security is a big tick.

First-time Ethereum buyers seem to struggle with the wallet. It’s not as slick and friendly as some offerings from big companies like Coinbase. There continue to be complaints that the interface tends to be confusing with little intuitive flow that newcomers require.

User Interface

You can simply load up your MyEtherWallet from your chosen web browser, and it doesn’t take much for you to start working with the interface.

Your private keys are not stored on MyEtherWallet, so it’s essentially a web application allowing you to monitor and interact with Ethereum.

It’s fairly rudimentary in design and focuses on the fundamental components that enable users to send and receive of Ethereum.

There’s a nice big send transaction box where to input an ether amount. The equivalent value is shown in the bottom left making it instantaneous to see current exchange rates.

The account address is ready and easy to find at the top left of the screen. Simply just copy and paste this to receive ether from another wallet.

There are more complex areas to the interface where you will need to know what you’re doing. Smart contract interactions and ether-to-bitcoin exchange options are available, which is something you may not see on other general cryptocurrency wallets.

It’s a shame the blockchain explorer isn’t included, you’ll have to click the etherscan link on the left side of the wallet to check transactions.

Security

The real beauty with MyEtherWallet is the ability to set the security to your individual needs. It is a customer-side wallet meaning that only you have access to your private keys. No one at MyEtherWallet will ever hold access to the keys.

This is why it’s important to be extremely vigilant for phishing scams every time you log in. The service has been attacked several times in the past. The best thing to do is bookmark https://www.myetherwallet.com/ and only enter through that link. Never login via Google or an email.

During the setup process, you have to select where you want to store your private key. This is crucial to your security and there are three main options:

• Hardware wallet – (Most secure) Store keys in hardware like Trezor or Nano, funds can’t be accessed without the device.
• Hard disk – (Less secure) Saved on your computer, but you are still susceptible to malware attacks.
• Copy private key – (Least secure) Copy your key or write it down somewhere, you will have to enter it each time.

There are still doors for hackers to get into your account if you are not careful. I didn’t like the way the website shows your private key on the generation screen. Could be grabbed if someone is watching in on what you’re doing.

You also have the option to print a paper wallet from this key. It is recommended to ensure you have a backup of your wallet.

Accessibility

Generating and using the wallet is more complex than other options on the market, but with that comes a much more flexible Ethereum platform.

New users might have difficulty with the signup process, since it seems to be a bit more designed for a more technical audience.

The ability to use the wallet varies depending on where you have private keys stored. If you keep them on your hard disk, the funds are only accessible from that computer. Trezor and Ledger users have the freedom to plug in and run the wallet application from any browser.

There is not a host of bells and whistles throughout the wallet. It is more of a “get to the point and get the job done” sort of platform. It’s actually quite simple to operate if you understand the different parts that make up a decent cryptocurrency wallet.

The wallet doesn’t have functions like QR code popups or a quick scanner to accompany the send and receive area. In fact, there isn’t even a receive tab which confuses some, just your public address.

There is a large selection of tokens useable in the wallet which is so important for Ethereum wallets. Many ether transactions are used for investing in ICO’s and various tokens. Many users rely on accessing various tokens on the Ethereum network.

Conclusion

MyEtherWallet is a flexible wallet that provides all the features needed to interact with the Ethereum network.

The user sets their own security methods, none of which leave private keys sitting online. The ability to integrate with hardware wallets that may store other currencies is ideal for anyone with large portfolios. Additionally, ICO investors can wield ether to their particular requirements.

Overall, it doesn’t have a super clean user-friendly design but it does have the built-in capabilities for serious ether users.

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The post MyEtherWallet Review | Features and Public Opinion appeared first on CoinCentral.

Blockchain.info is a longstanding Bitcoin and Ethereum Wallet and is one of the most used websites in the industry. The platform was launched in August 2011 and is based in Luxembourg.

Blockchain.info also has a blockchain explorer that aims to help users understand the current status of Bitcoin including latest transactions and the number of transactions per day. 

In this Blockchain.info wallet review, you’ll find out more about what the platform has to offer, the level of difficulty in using it, and ultimately whether it fits your needs.

Public Opinion

The Blockchain.info wallet is highly popular for a number of reasons.

People love the easy-to-use layout, as well as the Blockchain.info’s positive reputation. However, there are also a few drawbacks to the service due to it being online.

Pros:

• Blockchain.info is an established trusted company with years of experience and millions of users.
• Well-liked for small transactions and regular payments.
• Helpful to spend funds from a paper wallet.
• Easy and straightforward to use makes it appealing for new Bitcoin users.
• People like the smartphone app’s functionality.

Cons:

• Experienced Bitcoin users don’t like the potential risks of an online hot wallet.
• There a few reports of accounts being emptied and stolen.
• There are claims that customer support is often unhelpful or completely elusive.

People generally like the software when it comes to the functionality and day-to-day use. The major issue (if any) is the potentially lapses in security. Whether or not the users complaining that their wallets got hacked were taking adequate security measures isn’t known, but it’s worth noting that online wallets can be risky. Plus the customer support often ignores this complaint leaving users a little high and dry.

It is recommended that the wallet should be used for lower transactions and holding large sums in the platform is not a wise idea. If you’re looking to hold larger quantities of Bitcoin, it’s recommended you use a hard wallet.

User Interface

Like many services, Blockchain.info has a fairly swift sign-up process. You only need to take a few steps and you’ll have access to your wallet. Simply input an email, choose a super strong password, and you’re ready to start receiving Bitcoin.

The user interface is fairly intuitive upon opening with a small selection of tabs combined with a sticky “Send and Receive” menu at the top. Everything is clear and easy to understand for the layman. This is perfect if it is your first Bitcoin wallet.

Your transaction data sits readily available directly near the blockchain explorer feature. This means monitoring all ingoings and outgoings is possible live, right from within the wallet.

Security is highlighted with status bars, which will be defaulted to red upon your first login. This should be a nice green full color once you have worked your way through the security tab.

There is nothing out of the ordinary in the way that it is presented. Everything is fluid and no additional downloads are necessary. It operates in the way a hot wallet should.

Security

The ideal wallet should be convenient for the accessing and trading funds, but more importantly, it should keep your tokens secure.

The Blockchain.info security tab makes sure your defenses are bolstered up to prevent any potential threats or hacks.

Running an account as without using the security features is pretty much like leaving a car unlocked in a big car park. Sure it might be ok for a while, but it’s a car park so car thieves are likely to be around. Eventually one of them will try the door handle and it will just pop right open.

With a hot wallet, it’s always vital you are accessing the correct website. It is a good idea to bookmark https://blockchain.info or specifically type it in each time. Entering the site through Google or clicking an email that looks legit could just send you to a scam site waiting to phish your sensitive information. Make sure to double-check the web address before entering passwords.

To start with, make sure you backup your recovery key. If your recovery is backed up, you’ll be able to get your Bitcoins back in the result of lost data or passwords.  The recovery phrase is effectively a representation of your private key so keep safe and don’t ever put it into digital format. Opting for the simple pen and paper method is surprisingly secure (just don’t lose it!).

The SMS and two-factor authentication is an expected step on any financial account these days, and Blockchain.info includes this choice. It will stop quick fingers from accessing your account with just an email address and password.

There is a nice final feature which blocks Tor requests. When turned on it hardens your wallet against anonymous entities on the dark web.

Accessibility

The Blockchain.info wallet is very easy to get started with.

It provides lots of little features that smooth out any rough edges, making Bitcoin trading and usage simple to understand for the newcomer.

The send function is very clear.

Simply select how much Bitcoin you want to send by inputting your local fiat amount and it will convert it via the current exchange rate.

Converting Bitcoin to Ethereum is made painless via the exchange area, which helps stop any fiddly conversions or using outside services. These two features make it accessible for those who don’t want to be bothered with exchange rates and conversions.

Smartphone wallet users will be pleasantly surprised with the quick pair function that authorizes the app on your phone. Simply scan the browser QR code and it will log you into the app. All you need to do is throw a pin code on and you’re away.

Receiving funds through the browser was fine, although it took me a few seconds to find the public address QR code. I like them to be nice and primed for quick payments and no mistakes. This is certainly something that is important if we expect Bitcoin to be used more often in day-to-day life.

One ideal little helper for new users is the popup that greets you on the first logout. It advises you to set your backup recovery key before you lose anything. This is particularly useful, even if it’s just a little reminder to slow down and take care.  

Conclusion

As far as hot wallets go, Blockchain.info is everything you could need with the usual features and slick simple performance. The wallet security should be good enough for small balances and transactions, but you’d probably sleep better at night storing your larger quantities in a hardware wallet. You do have to place some 3rd party trust into the company, which is not always welcomed by the Bitcoin community.

Every wallet has its tradeoffs. However, Blockchain.info is a fast functional wallet that is quick to setup and easy to use, making it one of the best online wallets on the market.

(View Out Top Recommended Bitcoin Wallets and Ethereum Wallets)

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The post Blockchain.info Wallet Review appeared first on CoinCentral.

MyCelium was formed by a group of hardware engineers in 2008. The team was motivated to work with blockchain by the emergence and popularity of Bitcoin over the following years.

MyCelium offers the MyCelium Bitcoin wallet, which provides an accessible option for smartphone users. The app looks to make Bitcoin use frictionless, functional, and help bridge the gap to fiat currency while remaining secure.

In this MyCelium Bitcoin wallet review you will find out about the features offered and whether it suits your requirements.

Public Opinion

Sometimes, it is hard to decide if a crypto platform is a trustworthy dependable product. Your personal experiences may differ from what you read online or whether software feels ideal, so let’s take a look at some public opinion.

Public opinion shines very favorably on the MyCelium wallet. The app is downloadable from the Google Play Store and retains a strong 4.5-star rating.  There are thousands of happy users shouting praises. You will always find a few poor reviews but most of these are down to personal issues rather than the wallet experience as a whole.

It’s quite hard to find too many discouraging haters of the smartphone wallet. I was expecting to read many security complaints or backups going awry. However, the Bitcoin world generally loves MyCelium. Even Reddit, which is a shoe in for criticism, gives glowing reports.

User Interface

The reviews speak for themselves. The wallet’s popularity stems from the expertly designed app. The MyCelium wallet is available on both Google Play and iTunes, which should suit about 99% of smartphone users. If you’re still stuck using a Windows phone, then you have bigger problems, my friend.

Upon opening the app, you are immediately greeted with your Bitcoin wallet and simple easy-to-understand tabs. You’ve got a QR code, send, and receive buttons accompanied by the current exchange rate.

Flick over to accounts and you can immediately backup the private key automatically generated for the wallet. This is an important feature that makes sure you take steps to secure funds if your phone is lost.

Your transaction history and address book accompany the account management to give an all-around wallet that makes using Bitcoin on the go really easy.

Add payment addresses via QR code scanning or copy and paste to avoid any mistakes. Transaction history links directly to the blockchain explorer of choice, blockchain.info being the default. This gives you the ability check payments on the blockchain in one touch.

Security

Security is always a hot topic for wallet applications, no matter what platform you are using. It would be foolish to start transfering into a wallet without first checking security options and protocol.

The initial security thought with a smartphone wallet is be unnerving. You’re essentially carrying around private keys everywhere you go. Not only do you risk dreaded malware hacks, there is also the worry that pickpockets could wise up to Bitcoin.

The app has the usual interface protection in the form of a personal pin number. It is needed to open the app, send funds, and export private keys. This should at least do the trick to prevent any malicious quick fingers when out and about.

The HD (hierarchical deterministic) wallet design means that backups generate securely using a set of 12 random words. These words should be kept safe as they represent your private keys (never put them online). In the event of phone loss or damage, you can quickly recover funds. This is a system used by hardware wallet providers like Trezor.

If you have large hardware or paper wallets you can keep an eye on them via MyCelium. Using the ‘watch only’ function you are able to see current funds while leaving private keys offline. Spending the funds is super easy but at your discretion. For example, simply scan your paper wallet QR code into the app and start spending.

Overall, for a smartphone wallet, it leads the way in protecting your Bitcoins. Security will always be a potential risk with phones that are connected 24/7. The fact that hackers might find a way to root around your phone could expose your tokens. In order to maximize your security, it’s recommended you keep large amounts in cold storage.

Accessibility

If you want a way to use Bitcoin in a functional day-to day-manner, then MyCelium is in your pocket ready to rock.

Make payments in seconds or receive funds via the QR code embedded on the front page of the wallet. There is also a quick camera feature to scan other codes, including the ability to turn on the camera light. This could be pretty nifty if you find yourself in a nightclub or other dark places needing to accept Bitcoin.

There are various options when setting your personal preferences, including select where you draw the exchange rate for reference. The wallet references Bitstamp, Kraken, Gemini and a selection of market rates. This is ideal for traders who want to keep a close eye on their investments.

Default miner fees are easily selected between low, economic, normal or priority. This can be changed directly from the ‘send’ tab which includes a rough transaction time.

Buys and sells are made in a few touches. The MyCelium marketplace is a nice touch to help you trade with other locals. One touch finds other buyers and sellers within your radius.

Simply fire up the app and everything is ready to go. Change your personal settings if you wish but it is incredible how quickly you can be running around town with the blockchain in your pocket.

Final Thoughts

If you’re looking for a smartphone wallet, then the MyCelium wallet might be a great fit for you. It’s hard to find too many faults with the product. It’s simple to understand with more complex features for advanced users if you need them.

Sending and receiving can be almost instantaneous, making it decent for storing and using small amounts of Bitcoin. The only drawback is the potential security threats of it being online. As with any device that is continually online storing private keys, security is never 100% guaranteed. While you likely won’t have a problem with security, it’s worth noting that the use of a hardware wallet that keeps your funds offline would be a much more secure option.

The post MyCelium Wallet Review appeared first on CoinCentral.

The exchange suits regular users of cryptocurrencies that need to transfer money between Bitcoin, Ethereum, and other altcoins. While the service is easy to use, first-time buyers are not able to use ShapeShift with fiat currency. It is simply a way to move funds between different cryptocurrencies. For example, you may want to use Bitcoin to buy some Litecoin, so you can visit ShapeShift and seamlessly exchange the two.

(If You’re Looking for a Way to Buy Cryptocurrencies Using Fiat Currency, Check Out This List of Exchanges)

ShapeShift Review: Key Information

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ShapeShift offers a highly convenient service without the need to create an account or even provide an email. This is really useful if you want to quickly and anonymously exchange your crypto. There are still some problems facing the company with reports of unhappy customers who have either lost money or been unexpectedly charged high fees.

ShapeShift Overview

ShapeShift wants to exist as an integral part of the blockchain ecosystem allowing people and applications to move seamlessly between various cryptocurrencies. If you are an investor looking to widen your portfolio of altcoins, then it is a quick hassle-free way to buy virtually any altcoin from Litecoin to Zcash.

If you’re looking to take part in an upcoming ICO but you need Ether rather than Bitcoin, you can use ShapeShift to change up your funds. Or maybe you want to break up your Bitcoin into a different currency like Litecoin?

ShapeShift is a Swiss-based company that provides exchange services for users across the globe. They don’t use any fiat currencies meaning they don’t need banks or deposits in particular countries, this allows users to conduct their exchanges regardless of borders or location.

If you’re trading in cryptocurrency then you’re good to go. The service is one of the more anonymous options, with no need to create accounts, get verified or even leave an email address.

ShapeShift also offers its API to allow users to create custom software to access and use their exchange.

Public Opinion

There seem to be varying thoughts from the actual users of ShapeShift. Like any company holding your funds, trust is important especially with large amounts. You don’t need an account or log in which makes it quick and easy. It can also feel like you have little interaction to build trust with ShapeShift before depositing money. This makes relying on another positive public opinion very important.

The Positive: As mentioned above, you can almost instantaneously wave a magic wand and turn your Bitcoin to Litecoin, handy for whatever reason you should have to do this. If you are exchanging the right way, then fees can be quite low. There are many 5 star reviews stating how the service is simple and effective.

The Negative: The web is littered with condemnation of the ShapeShift exchange. A simple Google search will leave you a little horrified at some users experiences. Many claim to have lost funds completely or be stung by hidden exchange rates. Unfortunately, users report having coins disappear after failed transactions with little or no response from ShapeShift.

For all of ShapeShift’s simple offerings, it is quite unnerving to read so many bad experiences.

Is ShapeShift Safe?

Although many people have used ShapeShift, the lack of security might raise a few concerns. On the user’s side, there is no security to be bothered with, no passwords or verification.

While there is the security bonus of not holding accounts and hot wallets on the exchange for hackers to raid, there seems to be plenty of confusion about where funds go once deposited with ShapeShift, especially during a failed transaction.

Once deposited ShapeShift controls your funds through the exchange and you must trust their security protocol. As a ‘quick’ exchange this will mean no offline storage, just hot wallets.

There was also a notorious hack of ShapeShift in 2016 where funds totaling around $200K were whipped away over a two week period. As you would expect the website was taken offline and security rebuilt, while I hope this means they have learned from their mistakes and made security their top priority, it’s still hard to ignore the facts.

CEO Erik Voorhees appears to try and offer an honest explanation to what happened. The attack was put down to an unnamed employee who betrayed the company and set about emptying a Bitcoin wallet. The losses were fairly substantial although ShapeShift maintains that no customer funds were ever touched.  

ShapeShift Trading Fees

The company is completely upfront about their charging fees which vary depending on what currency you are buying. Be sure to check out the rate you will be paying on chosen currencies as they can differ depending on miner fees for each blockchain.

Here is a break of how some of the fees look:

To see the full breakdown of their trading fees, check this out.

Like fiat currency, it is important to take note of the exchange rate offered as the exchange will likely have a margin here. Of course, there is no deposit and withdraw fee, if the service runs smoothly you should feel like you are simply sending cryptocurrency from one wallet to another.

Customer Support

Customer support can be a mixed bag on ShapeShift, like many exchanges. When things go well there are glowing reviews and niggles are sorted out very quickly. On the other hand, when things are not going well is can seem very hard to get an answer out of the company. This can be quite infuriating, especially when you’re trying to find your money!

The contact page on the website leaves a lot to be desired, lacking an address or telephone number to pin ShapeShift down.

If you navigate your way around the support area of the website then you’ll still be left without answers to some simple questions too.

Final Thoughts – ShapeShift Exchange Review Summary

ShapeShift looks to provide you with a seamless way to transfer between virtually any cryptocurrency. And on the face of it, it can be quick and efficient when you find yourself in the wrong currency but there is still plenty of frustration for the user.

The support of well over 50 altcoins is very attractive for those looking to really broaden their digital portfolio with ease. There is no need to integrate any localized banking as everything is crypto-based keeping you completely in decentralized blockchains.

Anonymity is kept when using the service which is fine when there are no hitches.

(View Our Full List of Cryptocurrency Exchanges)

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