How To Set Up Security For Your Online Bitcoin Wallet

BTG Pactual has launched Mynt, a new exchange for bitcoin and other cryptocurrencies in Brazil focusing on education in the ecosystem.

The largest investment bank in Latin America just launched a cryptocurrency exchange in Brazil.
The exchange will only support bitcoin and one other cryptocurrency at launch.
BTG Pactual holds about $200 billion in assets under custody.
 
BTG Pactual, the largest investment bank in Latin America, just launched a bitcoin and cryptocurrency exchange in Brazil, per an announcement from the bank. 
The bank’s new trading platform is called Mynt and will enable users to have direct access to bitcoin, placing it among the first leading financial institutions in Brazil to do so. Additionally, the investment bank with over $200 billion in assets under custody will provide educational content for all of its users about bitcoin once users have established an account. 
"Content will be a part of Mynt at all levels,” Pedro Frazao, product manager at Mynt, said in an interview prior to the release. 
“Any product we launch will come along with some content like a video or a paper that provide the means for the customer to understand more about what they're investing in, and if they have any questions the app has a 24/7 chat function,” Frazao continued.
Andre Portilho, partner and head of digital assets at BTG, said in that same interview that when he asked in Mynt's chat, "What is Bitcoin backed by?", the app issued the following response:
"Bitcoin's backing isn't physical. It is backed by the mathematics underpinning its blockchain, and this technology guarantees the safety of its transactions."
However, it currently remains unclear who will back Mynt and serve the custodian of the physical bitcoin. At launch, Mynt clients will not be able to withdraw their bitcoin from the platform in order to self-custody; however, the platform plans to enable such functionality in the future. 
Nonetheless, the company still believes that the world of finance is headed into changing tides. 
"Our vision is that crypto technology will do to the finance industry what the internet did to the information industry, it changed it completely," Portilho concluded in the interview.
BTG Pactual joins the ranks of other institutions entering the growing Brazilian market such as XP Inc., who just earlier today, released bitcoin trading services on its brand new platform – Xtage. Additionally, banking giant Santander began discussing plans to enter the ecosystem as well.

The largest investment bank in Latin America just launched a cryptocurrency exchange in Brazil. The exchange will only support Bitcoin and one shitcoin at launch.

(*): Only in Africa for the moment, thanks to the promising Machankura project.

No Internet Connection or Smartphone? You Can Still Use Bitcoin Now (*)

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Bitcoin mining firm Bitfarms upped its hash rate, but higher energy costs and lagging Bitcoin prices still hurt its bottom line.

Publicly traded Bitcoin mining company Bitfarms saw a $142 million net loss in the second quarter, the company reported today.
During the quarter, Quebec-based Bitfarms sold 3,357 Bitcoin for $69.3 million, in part to pay down the outstanding balance on a loan from Mike Novogratz's Galaxy Digital. By the end of June, the company held 3,144 BTC worth approximately $62 million, it said in its U.S. Securities and Exchange Commission filing.
The company saw its revenues increase compared to the same quarter last year, $42 million compared to $37 million, because the company increased its hash rate, a measure of total computing power on a blockchain. But that was offset by the decrease in Bitcoin prices, which dropped from $45,868.95 at the start of the second quarter to $19,269.37 by June 30—that’s a 58% drop, according to CoinMarketCap.
Hash rate is also how crypto mining companies measure their potential earnings. Mining involves the use of high-end computing rigs that race to solve cryptographic puzzles, thereby helping to secure the network and verify transactions, for a chance at receiving newly issued cryptocurrency as a reward. Each hash represents a “guess” at a cryptographic string. The miner who correctly guesses it wins the right to verify a block worth of transactions and add it to the blockchain. One exahash represents one quintillion such guesses.
“Delivering strong operational growth, we increased our corporate hashrate by 33% from the beginning of the quarter and by 157% from a year ago to 3.6 exahash per second (EH/s) at June 30, 2022,” Geoff Morphy, Bifarms president and chief operating officer, said in a press release. “Having brought online phase 2 of The Bunker buildout, we added further gains in our market share, which is now approaching 2% of the BTC network, a Bitfarms’ record.”
Prices have recovered a bit since the end of June. BTC was trading at $24,096.72 on Monday morning. But the increase in hash rate has been a double-edged sword. The company also felt the bite of rising energy prices. 
Bitfarms’s $32 million cost of sales, which cover utilities and infrastructure, have nearly tripled since the same quarter last year. That was exacerbated by the fact that Bitfarms added 9,000 MicroBT Whatsminers to its fleet during the quarter, bringing its total hash rate from 2.7 Exahash per second to 3.6 EH/s. 


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Bitcoin miner Bitfarms posted $142 million in net loss and $42 million in revenue last quarter.

Bitcoin miner Bitfarms reports $142 million second-quarter net loss

Monero (XMR), the largest privacy coin in the crypto market, has completed the upgrade designed to enhance the privacy of the network. The new development was announced on August 13th via the official Twitter handle of the blockchain project. According to the report, the success of the network upgrade implies that Monero (XMR) is now …

Monero (XMR), the largest privacy coin in the crypto market, has completed the upgrade designed to enhance the privacy of the network.
The new development was announced on August 13th via the official Twitter handle of the blockchain project. According to the report, the success of the network upgrade implies that Monero (XMR) is now more private and efficient.
To make the privacy enhancement possible, the update says a number of new features were introduced, such as ringsize 16, Bulletproofs+, and view tags.
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The team also urged users to update their nodes or wallets in order to remain on the network.
Monero tweeted, “Congratulations on a successful network upgrade! Monero is now more private and efficient with ringsize 16, Bulletproofs+, and view tags! Make sure your node/wallet is updated to continue using Monero. Privacy and fungibility matter, and it’s exciting to keep improving!”
 
Congratulations on a successful network upgrade! 🎉 #Monero is now more private and efficient with ringsize 16, Bulletproofs+, and view tags! 
Make sure your node/wallet is updated to continue using Monero. 
Privacy and fungibility matter, and it’s exciting to keep improving!
— Monero (XMR) (@monero) August 13, 2022
 
 What the New Features Bring to Monero Network 
In a  blog post in April 2022, the Monero team explained that the new “Bulletproofs+” algorithm is capable of reducing normal transaction size and boosting verification performance by 5% to 7%. While View tags are meant to reduce wallet sync times by 30% to 40%.
Unlike Bitcoin and other non-privacy blockchains, privacy coins are cryptocurrencies that power private and anonymous transactions on blockchain by obscuring their origin and destination.
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Privacy protocols, such as Monero, normally hide a user’s real wallet balance and address and mix different transactions with each other to evade normal chain analysis.
As earlier mentioned, among these privacy protocols, Monero (XMR) is the largest in terms of market capitalization. It currently occupies the 28th position in the crypto market.
At the time of filing this report, XMR is trading at $165.78, with a relatively 1% price downtrend in the last 24 hours, according to CoinMarketCap.
 
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Monero (XMR) Completes Network Upgrade to Improve Privacy

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As the cryptocurrency market gains momentum, Dogecoin and Shiba Inu are poised for some potentially strong breakouts.
Officially the two most popular "meme coins," DOGE (Dogecoin) and SHIB (Shiba Inu) have a full week of building strength behind them, placing them on the radar of a larger number of traders. 
 DOGE's seven-day gain was 7.41%, while SHIB's seven-day run was an amazing 24.71%. 
DOGE broke out of a symmetrical triangle and surpassed the $0.073 resistance level from a technical standpoint. As the Y-axis of the technical formation indicates a 34% goal, these developments could play a big impact in the price movement. If confirmed, Dogecoin might jump to $0.095 or possibly $10 per coin. The abrupt increase in upward pressure allowed it to overcome a crucial section of resistance. Currently, it appears that Dogecoin has the potential to advance further.
However, Dogecoin must maintain a price over $0.068 for the bullish view to be confirmed. If it breaks below this level, it may experience a sell-off that leads to a decline to $0.065 or $0.061.
 While current market news largely focused on Ethereum's recent rise, SHIB outperformed ETH with gains of 24% - that's 3X higher than Ethereum's 7%! The higher price movement of SHIB brought the price into the next area of resistance. As market sentiment improves, surpassing the current level is unquestionably within the realm of possibility.
Obviously, you should conduct your own research and make your own conclusions. - I'm not advocating for anyone to buy any coin, but rather advising you; "look into it".
------- Author: Justin DerbekNew York News DeskBreaking Crypto News

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