Infographic courtesy of CoinKickoff

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Infographic courtesy of CoinKickoff

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Big Data and Augmented Analytics

Big Data refers to extraordinarily massive and sophisticated data sets that are so large and complex that traditional data-processing methods are incapable of handling them. However, these massive volumes of data are really useful since they can be used to answer business difficulties that we would not have been able to handle earlier. To access this abundance of data, we use Augmented Analytics. NLP (Natural Language Processing) and machine learning (ML) are used in Augmented Analytics to automate and optimize analytic operations across the data lifecycle, from data collection, filtering, and sorting through analysis and interpretation.

Crypto and Making Money with Crypto

After all the hype and success stories that you have heard of, you have finally decided to try investing in crypto so that you can finally live the dream of having a story of your own to tell. A story of success and wealth that may one day allow you to expand into bigger and more successful business ideas to carry you forward. Everyone tries investing in crypto to have profit, some more stable like mining and some more dramatic and dynamic with the rising and falling of crypto values.

Not everyone has a success story to tell though, some of them give up before they even try due to lack of information, some of them give up after already investing and failing, and some of them lose money because they do not understand the way it works and which are the best ways to make money with crypto after they have already made a profit in their Bitcoin Wallet. If not understood correctly, the value of this Bitcoin Wallet may simply fade away and take the downhill path of loss instead of earning actual cash from crypto. That is why you need to follow one if not some of the best ways to make money with crypto in 2022.

There are many ways of making money with cryptocurrencies and they include a lot of attention and determination. You can make money by only having luck a couple of times or making informed decisions that affect you both in the short and long term of business. The crypto market at this time is growing and it is offering a lot of opportunities with many new coins, and a trading host of crypto buying platforms and apps. Some of these coins include Bitcoin, Ethereum, Dogecoin, ElonGate, Stellar, Tether, Shiba, etc. Some crypto buying platforms include Binance, Coinbase, and Robinhood and they are very easy to use so gaining access to these markets is already easy to start with.

You have to follow certain strategies when it comes to trying to earn money from cryptocurrencies and they are not as simple as you may think. They are not limited to trade only terms. These strategies may include investing or trading in the crypto exchange market, you can use your coin that you already own to lend coins to the system or other users or you can even mine and participate in the blockchain system to have rewards for each work inside the system. Some strategies may include: investing yourself in a coin while analyzing the market and what may vary from profit to loss, trading with other coins that have higher values and can make you small but stable profit, staking, and lending which may include more knowledge and patience, mining and even airdrops and forks which may be distributed to raise awareness or to create a larger user base for a project.

All these opportunities need to have a plan and careful approach to have your own story of success. Your bitcoin wallet might need extra attention from the moment you wake up to the moment you go to sleep so that you can monitor every up and downfall of everything going on around you. Besides, the value of cryptocurrencies may vary from a word in an interview or even a tweet from a popular person so you never know when you had to be monitoring your wallet to avoid loss and maximize earnings.

It’s worth mentioning, that you should be very careful on trading cryptocurrencies because there are a lot of scammers and bots right now stealing data. Anti-scam and bot protection technologies are being developed to fix this issue.
A bonus tip:
Another way to start winning money from crypto is mining. There are lots of mining options out there, helium mining being one of them (check this out for more).

Cloud Computing and Edge Computing

Cloud computing refers to the delivery of computing services via the internet on a public cloud, whereas Edge Computing refers to the processing of real-time data at remote locations. People can access data stored on other computers that are linked to the central cloud server through the cloud, whereas edge computing processes time-sensitive data on phones and other smart devices.

These technical advances may be found in self-driving cars, smart grids, traffic management, cloud gaming, and several other applications. Businesses, in particular, may employ a combination of these technologies to change and increase the efficiency of their operations.

Robotic Process Automation (RPA)

RPA uses software to automate repetitive processes that would otherwise be done by a human operator, freeing them up to focus on more complex, value-added duties. This technology is part of a bigger automation revolution that will influence every firm, and it is effectively taking over more error-prone tasks such as client onboarding, reporting, and transaction reconciliation across a variety of sectors.

To begin, numerous companies, like Coca-Cola and Walgreens, have begun to employ RPA to streamline their public relations and finance departments. This is how the future of work will appear.

Conclusion

As the world returns to the workplace, focusing on business architecture will be more vital than ever. The genius of their technological judgments, rather than the success of their commercial objectives, will distinguish leaders.

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United States Has 33,641 Crypto ATMs

According to the data available on Statista, the United States has the most crypto ATMs in the world at 33,641. The US not only has the highest number of crypto ATMs worldwide, but it also has the majority of ATMs worldwide.

Cryptocurrency ATMs are remote terminals that allow users to buy and sell different cryptocurrencies. Currently, most ATMs allow only major cryptocurrencies like Bitcoin and Ethereum. Furthermore, only a few ATMs allow users to sell their currencies.

Canada occupies the second spot on the list with 2210 ATMs. This amount makes for 6% of the total ATMs worldwide.

Central American nation El Salvador is third on the list with 205 crypto ATMs. The country of El Salvador recently attracted interest from crypto enthusiasts when it became the first country to make Bitcoin a legal tender.

Spain occupies the fourth spot. There has been considerable interest in Europe regarding cryptocurrency, but ATMs have not become as standard in the continent. Spain has the highest number of ATMs at 175. Switzerland follows it in the fourth spot with 139 crypto ATMs.

In Asia, Hong Kong has the most crypto ATMs. According to the report, there are currently 137 ATMs currently working in the Southeast Asian territory.

North America Has 95% of ATMs Worldwide

It’s evident from the previous section that most of the crypto ATMs are situated in North America. According to our calculations, a total of 33641 crypto ATMs are located in the continent- 95% of the total. The previous section shows that the top three countries with crypto ATMs are all situated in Central/North America. In comparison, European nations only account for a total of 1402 ATMs with Spain and Switzerland leading. Additionally, countries like Austria, Romania and Poland have 100+ crypto ATMs.

Asia only has 240 ATMs, and more than half of those are situated in Hong Kong. Furthermore, as per the data, Australia only has 39 crypto ATMs currently.

You can read the entire report with additional statistics and information at:

https://stockapps.com/blog/united-states-has-88-of-crypto-atms-worldwide/

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Cryptocurrencies are a good investment if you want direct exposure to the demand for digital currencies. Stocks of companies with exposure to cryptocurrency are a safer but potentially less lucrative alternative.

Take a look at the advantages and disadvantages of investing in cryptocurrency.

Are Cryptocurrencies safe?

Cryptocurrency is not completely safe, at least not right now. On the other hand, other evidence suggests that it may be here to stay.

Risks associated with cryptocurrency

Unlike stock exchanges, cryptocurrency exchanges are more susceptible to hacking and becoming targets of other criminal activity. Investors who have had their digital currencies stolen have suffered significant losses due to these security breaches. 

Cryptocurrencies require more security than stocks or bonds when it comes to storing them. Bitcoin (crypto: BTC) and Ethereum (Crypto: ETH) can both be bought and sold on cryptocurrency exchanges like Coinbase (NASDAQ: COIN), but many people prefer not to store their crypto assets on exchanges due to the risk of cyberattacks and theft.

It is common for cryptocurrency users to choose offline “cold storage” options such as paper or hardware wallets, but cold storage comes with its own set of challenges. Essentially, it is impossible to access your cryptocurrency without your private key, which is the most significant risk.

Furthermore, investment in a crypto project does not guarantee success. Cryptocurrency projects are fiercely competitive, and there are countless scam projects in the industry as well. Cryptocurrency projects will ultimately thrive in a limited number.

Cryptocurrencies may also face enforcement by regulators, especially if governments see them more as a threat than an innovation.

In addition, cryptocurrency technology is on the cutting edge, which increases the risk for investors. It is still a work in progress and hasn’t been extensively tested in real-world settings yet.

Adoption of cryptocurrencies

Although cryptos and the blockchain industry have inherent risks, they have grown significantly over time. Increasingly, investors can access institutional-level custody services, thanks to the building of much-needed financial infrastructure. Cryptoassets are slowly becoming more attainable for individuals and professionals alike.

A range of companies are becoming direct participants in the cryptocurrency sector by establishing crypto futures markets. Several financial giants, including Square (NYSE: SQ) and PayPal (NASDAQ: PYPL), are making it easier to buy and sell cryptocurrencies on their platforms, while others, including Square, collectively have invested hundreds of millions of dollars in Bitcoin and other digital assets. In early 2021, Tesla (NASDAQ: TSLA) bought Bitcoin worth $1.5 billion.

Although there are still factors that affect the riskiness of cryptocurrencies, the increasing adoption rate is a sign that the industry is maturing. Cryptocurrency is gaining popularity with both individual investors and businesses since several large companies are investing their money in it.

Cryptocurrencies are good long-term investments, but what about the short-term?

During the launch of cryptocurrencies like Bitcoin and Ethereum, lofty objectives are often set, which will be achieved over time. Although any cryptocurrency project is not guaranteed to succeed, if it succeeds, then early investors could reap significant rewards over time.

In order to be considered successful in the long run, cryptocurrency projects must achieve widespread adoption.

Long-term investing in bitcoin

Due to its widespread popularity, Bitcoin is the most widely known cryptocurrency, benefiting from the network effect — more people want to own Bitcoin since the majority owns it. Some investors consider Bitcoin to be “digital gold,” however, it is also capable of being used as a digital currency.

As a result of the fixed supply, Bitcoin is believed to have gained value over the long term, unlike fiat currencies such as the U.S. dollar and the Japanese yen. It is estimated that the supply of Bitcoin will never exceed 21 million coins, compared with currencies controlled by central banks. Fiat currencies continue to depreciate, which will increase the value of Bitcoin.

Many Bitcoin enthusiasts believe Bitcoin can be used widely as digital cash in the long run, and will thus become a truly global currency. 

Bitcoin has the following important features:

• The blockchain technology behind cryptocurrencies like bitcoin allows data to be sent securely in cyberspace via the payment method
• There is a mining process for every bitcoin
• The total number of bitcoins that can be mined totals 21 million
• As cryptocurrencies cannot be regulated by centralized authorities, such as governments or central banks, they are “decentralized.”

Investing in Ethereum over the long run

Investors looking to gain exposure to Ethereum can buy Ethereum’s native coin, Ethereum, to increase their portfolio exposure. Ethereum operates as a global computing platform that supports many other crypto-currencies and a massive ecosystem of decentralized applications (dapps). Bitcoin can be viewed as a form of digital gold.

Because Ethereum is the platform for many cryptocurrencies, and dapps are open-source, it offers Ethereum the opportunity to take advantage of the network effect and create sustainable, long-term value. With Ethereum, smart contracts can be developed, which are written in code and execute according to the terms written in the contracts.

Smart contracts are executed on the Ethereum network with the help of Ether collected from users. With smart contracts, massive industries, such as real estate and banking, can be disrupted as well as brand new markets made possible.

With the increasing adoption of the Ethereum platform, the Ether token is becoming more valuable and useful. The Ethereum platform offers a long-term opportunity for investors who are bullish on its potential to make money by owning Ether.  

Cryptocurrencies: Is it worth investing in them?

Investing in Bitcoin can increase your portfolio’s diversification because the price of cryptocurrencies has rarely correlated with the value of U.S. stocks. Since cryptocurrency usage is likely to become even more widespread in the future, you might want to consider adding a little crypto to your portfolio as part of a diversified investment strategy. When investing in cryptocurrencies, come up with an investment hypothesis that explains why that currency will endure.

Cryptocurrencies are increasingly popular today, but buying them can be risky. If buying them seems too risky, consider other means of profiting from the rise of cryptocurrencies. CME Group (NASDAQ: CME), a company that facilitates crypto futures trading, allows you to invest in the stock of Coinbase, Square, and PayPal, or you can invest in an exchange like CME Group. Another option is busd bot a web-based trading bot platform that automatically trades almost any cryptocurrency or token for you. The upside potential of investments in these companies may be very small compared to investing directly in cryptocurrency.

Final Words

In conclusion, learning and investing in Cryptocurrencies has been very profitable over the years and the market is growing bigger every day, and it’s projected to be the future currency.  Kindly check our website, AskCrypto which is a cryptocurrency forum and is focused on crypto enthusiasts and helps to promote networking and communication in a better wayto benefit everyone.

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Cryptocurrency is more than simply a different investing choice; it reflects a whole other universe than traditional equities and bonds. Even for experienced traditional investors, understanding the basics takes time due to unfamiliar jargon, developing technology, and keeping up with memes and tweets.

Before investing in cryptocurrency, we advise building an emergency fund, paying off high-interest loans, and establishing a standard retirement savings plan. And, as previously said, you should only invest what you are ready to lose in cryptocurrency, with experts recommending that you allocate no more than 5% of your portfolio to these digital assets.

Another item you should include on your checklist is at least a basic grasp of what you’re getting into, such as how crypto differs from conventional investing methods and the many factors that can impact the market value.

 Before you begin, like with any investment, it is critical to understand exactly what global asset you are investing in. This is especially true for a speculative — and continuously evolving — asset like cryptocurrency. 

It is much easier to do this if you are familiar with the words often used in this world. Whether you want to acquire cryptocurrencies now or later, knowing the terminology is a smart place to start. To make sure you aren’t be left out in the cold, here’s a beginners guide to getting started with cryptocurrencies.

Crypto Terms

Here are some term and jargon definitions to assist newcomers in grasping the world of cryptocurrency investment.

Mining

This phrase can be a little perplexing at times. Mining is the process of creating and distributing new crypto coins. Solving complicated mathematical problems necessitates the use of powerful computers. Users who complete this task get coins as a consequence. They may then trade the coins directly with their peers or through internet exchanges.

Of course, most traders do not mine or create new coins. Instead, much like any other asset in your financial portfolio, you may purchase and sell tokens from other individuals.

Whale

Whale accounts are those that possess a huge amount of a coin and have the ability to affect the market on their own. Most well-known and popular cryptocurrencies have a slew of whales that can truly throw their “weight” around.

Indeed, there are prominent websites that follow the activities of whales to increase transparency in the bitcoin market.

Many whale accounts are early investors or huge money, and following what they’re doing is a good method to predict how the cryptocurrency market will move.

Blockchain

The bitcoin transaction relies heavily on a peer-to-peer network. Blockchain is a digital database that records each bitcoin transaction. There is no risk of a hacker gaining access and corrupting the information kept on the blockchain because there is no central database, and everyone may view the blockchain facts from anywhere.

Gas

Gas is the charge of completing a bitcoin transaction. The fee covers the expense of paying a “miner” (the person who solved the equation and earned a coin) to search for and receive cryptocurrency on your behalf. Its size is determined by how soon you want the transaction to be completed.

Address

This is the precise location to which bitcoin is transferred. It functions similarly to a bank account but solely contains cryptocurrency. For maximum security, each address, which consists of a string of alphanumeric characters, is used only once to store crypto assets. 

This address also assists a receiver in proving ownership of the bitcoin that has been delivered to them.

Fiat

This phrase is most commonly used to contrast cryptocurrencies with normal currency (fiat), which is backed and issued by the government. It provides central banks with greater influence over the economy. Currencies, such as the US dollar and the Indian rupee, are examples of fiat money.

Altcoin

This is basically any other coin that isn’t Bitcoin. Altcoins can range from the second-most popular coin, Ethereum, to any of the hundreds of coins with extremely little market value. According to experts, you should primarily invest in the larger, more popular cryptocurrencies.

Block

These are the data sets within a blockchain. Blocks on cryptocurrency blockchains are made up of transaction records created when users buy or sell currencies. Each block can only store a certain amount of data. When it hits that limit, a new block is created to continue the chain.

Crypto Wallet

A wallet is where you keep all of your bitcoin currencies. It is encrypted, and if you forget your password, you will lose access to your wallet. Because cryptocurrency is founded on the concept of decentralized distribution, the only way to do so is to hold individuals accountable for their passwords.

Wallets are classified into two types: cold and hot. While a hot wallet is stored online and facilitates online trading, a cold wallet is similar to an offline safe to keep your valuables secure.

Hot Wallet

A bitcoin wallet that is software-based and connected to the Internet. While digital wallets are more convenient for immediately accessing your crypto, they are more vulnerable to hacking and cybersecurity threats than offline wallets, just as data stored on the cloud may be more readily accessed than those kept in a safe at home.

Cold Wallet

This is a safe way to keep your Bitcoin offline. Many cold wallets (also known as hardware wallets) are physical devices that resemble USB drives. This type of wallet can help secure your cryptocurrency from hackers and theft, but it also has its hazards, such as losing it along with your cryptocurrency.

Decentralization

The distribution of power away from a central location. Blockchains have typically been decentralized since they require the majority permission of all users to function and make changes rather than a centralized authority.

Decentralized Applications

These are the developer-created applications installed on a blockchain to carry out operations without the use of mediators. Decentralized finance operations are frequently carried out with the help of decentralized applications. Ethereum is the primary network that supports decentralized finance activity.

Fork

When its users change the rules of a blockchain, changes to a blockchain’s protocol frequently result in two new paths: one that follows the existing regulations and another that branches off from the prior one. (For instance, a Bitcoin fork resulted in Bitcoin Cash.)

HODL

Though the word began in 2013 as a user mistake on a Bitcoin forum, it now stands for “Hold On for Dear Life.” It refers to a passive investing technique in which investors acquire and hold cryptocurrencies rather than trade them to expect their value to rise.

Market Capitalization

In the context of cryptocurrencies, the market cap refers to the total value of all coins produced. The market cap of a cryptocurrency may be calculated by multiplying the current number of coins by the current value of the coins.

NFTs

NFTs or Non-fungible tokens are value units used to represent ownership of one-of-a-kind digital objects such as art or collectables. NFTs are often stored on the Ethereum blockchain.

Public Key

This is the address of your wallet, which is comparable to your bank account number. You may provide people or institutions with your public wallet key so they can send you money or withdraw money from your account when you approve it.

Private Key

The encryption code that allows you to access your cryptocurrency directly. Your private key, like your bank account password, should never be shared.

Smart Contract

A computational software that automatically enacts the conditions of a contract based on its code. The capacity of the Ethereum network to execute smart contracts is one of its primary value propositions.

Token

A value system on a blockchain generally has a value proposition other than merely a value transfer (like a coin).

Final Words

Those considering investing in cryptocurrencies should understand that acknowledging industry terms can be advantageous. Would-be traders can enhance their chances of reaching their investing objectives by conducting the appropriate study and understanding this knowledge. 

Interested in learning more about cryptocurrency? You can visit AskCrypto, a cryptocurrency forum where you can get more info about all the callouts, crypto trading, daily updates for the crypto market, and much more.

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Cryptocurrency or more specifically bitcoin, isn’t a new thing, but it is undoubtedly young being only a bit more than a decade on the market. Moreover, there are many frauds and controversies related to doing business alone, so it’s no surprise people are suspicious about virtual currencies. Additionally, bitcoin news has only recently started to spread widely so that more people can get informed about it. 

Nevertheless, there are plenty of reasons why bitcoin is better than traditional money. 

For instance, if you are traveling to a country that doesn’t use the same currency as yours, you need to pay attention to conversion rates. Otherwise, you risk losing some money. This will not happen when you are using bitcoin.

When we first heard about it, we also had some doubts, and it seemed unreliable. However, we decided to investigate and were pleasantly surprised by the findings. Today we will share them with you, discuss the reasons to use bitcoin, and explain what it is.

What Is Bitcoin

Some people talk about virtual currency and money as if these are two different things. But this is wrong; for example, if you have Indian rupees and money (USD), you won’t claim that dollars are money while rupees are something else. The same goes for bitcoin – it’s also money – just another, virtual form. By definition, it is a cryptocurrency – digitalized currency without a central bank. Although it is virtual, it does have all elements that fiat money has – it is a means of payment, a unit of account, and a store of wealth. Therefore, we can conclude that it is money. If you wish to find out more about it, you can read here.

There are plenty of reasons why it is much better to use bitcoin today. In the following sections, we will see how bitcoin works and look at some other crucial details.

Why Use Bitcoin

It is not hard to understand how it functions because it is nothing more than a computer file kept in a virtual wallet app. You can send and receive bitcoins directly from and to your wallet through online transactions that are recorded in the blockchain. The purpose of tracking and recording these transactions is to ensure security and prevent people from perpetrating fraud. 

1. Low Transaction Charges

This is one of our favorite advantages. Unlike fiat, cryptocurrency has very low transaction and transfer fees. Even if you are transferring bitcoin amounting to millions of dollars, it will cost you just a few hundred bucks – that is how low the charge is when exchanging bitcoin to USD. This is because there is no intermediary, and it is an excellent benefit for people who often travel.

2. No Borders

You can take it to any country in the world and exchange it for fiat currency once you arrive there. The only thing you need to find is the best bitcoin exchange office that will give you reasonable rates. Carrying bitcoin is much safer than conventional money or credit cards. 

3. Impossible to Steal

We live in a time when poverty is increasing, and, therefore, more people resort to stealing. However, it is not possible to filch bitcoin unless the thief has, for some reason, private keys necessary to access the wallet. 

4. Autonomy

Cryptocurrencies allow users to have autonomous control over how, and how much, they are spending without addressing a bank or a government body.

5. No Banking Fees

This doesn’t mean that you don’t have to pay anything because there are still things like withdrawal and deposit charges. But you can forget about all those monthly account fees such as  maintenance, minimum balance, and many others.

6. There Isn’t Counterfeit Cryptocurrency

Almost everyone is at some point afraid of getting fake money. Well, when you are dealing with bitcoin, you can be sure that this won’t happen. In this case, you don’t give it to an unknown person but to the network that checks everything first before proceeding with your transaction.

7. Online Shopping

Many of us don’t have time to go to supermarkets or shopping malls. Besides, it can be frustrating when you need to go from store to store to find what you need. That’s why many people opt for online shopping. Of course, you can buy things online with a simple credit card, but bitcoin makes it more convenient because you don’t need to leave any personal data on the Internet. 

8.  It Is Accessible

All you need for transactions is a smartphone or a computer with Internet access, and you are good to go. This means working with bitcoin is much simpler for people worldwide, particularly those who, for whatever reason, cannot use traditional systems of payment and banking. 

9. Open but Secure

This means that people can receive and send bitcoins between themselves without intermediaries. However, it doesn’t imply that anyone can do whatever they want because there is a network that controls the safety and security of transactions. Also, users have a password called a private key, which is necessary for operations. 

10. Fast

When you use traditional banking or payment systems, usually you have to wait a day or two before your withdrawal/payment is processed. With bitcoin, you have instant transactions. When you send bitcoins to someone, they will see the amount within seconds. Of course, then they need to wait for it to be confirmed, but it is still shorter than with a bank. 

Conclusion

We hope that we managed to explain why bitcoin is better than traditional money. The purpose is not to convince you of anything but to make sure that you have all the facts when deciding on the type of currency to use. If you find this topic interesting, we believe you would like to read about how to earn bitcoin as well. Have you thought about switching to cryptocurrency before? What are your pros and cons?

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The boom of rogue cryptomining (or cryptojacking) at the expense of unsuspecting users’ machines co-occurred with Bitcoin price reaching its peak in late 2017. Although the subsequent dramatic decline in its value brought many of these malicious campaigns to a halt, the predictions of the epidemic’s prompt end were premature.

New waves of cryptojacking have surfaced since the prices of popular cryptocurrencies started to gradually climb back up in 2019. To top it off, crooks are now utilizing novel techniques to masquerade their malware and monetize it. Their overhauled repertoire ranges from infecting airports and Docker hosts – to distributing booby-trapped WAV audio files and fake CMS plugins targeting different operating systems. Below are a few recent incidents that gave security analysts a heads-up.

Stealth Monero miner detected in an international airport’s systems

In mid-October 2019, researchers from security firm Cyberbit made an unsettling discovery when deploying their Endpoint Detection and Response solution in one of the European international airports. They found that more than half of the airport’s workstations were contaminated with a malicious variant of the XMRig Monero mining program. The infection had slipped below the radar of the antivirus tool running on the facility’s machines, but the behavioral analytics module built into the new protection software was able to identify the anomalous activity.

Although this malware lineage has been around for over a year, the experts realized they were dealing with its offshoot that underwent a number of tweaks to evade detection by traditional AV applications. Another new feature of the miner is that it uses PAExec, a tool based on Microsoft’s better-known PSExec service that allows threat actors to execute arbitrary processes on hosts remotely. The malicious operators leveraged this utility to gain a foothold within the network and run the harmful app with maximum privileges.

The malefactors also took advantage of the so-called Reflective DLL Injection technique to ensure fileless execution of the offending code, which means it runs entirely in memory and isn’t deposited onto the hard drives. This adds another layer of obfuscation to the attack. The original payload most likely arrived with a phishing email or drive-by download. The good news is that the malware impact was restricted to abusing the hosts’ CPU capacities to mine cryptocurrency and wasn’t aimed at disrupting the normal operation of the unnamed airport.

Unique cryptojacking worm targeting Docker hosts

For the record, Docker is a virtualization service used for hosting software and data in isolated repositories called containers. These frameworks are run by a single-engine and can have different configurations and structures while, technically, constituting the same software ecosystem.

Palo Alto Networks’ Unit 42 analysts recently came across an attack vector used to inject a cryptominer into thousands of vulnerable Docker containers. 

This exploitation technique stands out from the crowd because the offending code dubbed Graboid has worm characteristics, which is a new thing in this segment of cybercrime.

The operators of this campaign identify unsecured Docker hosts by running a scan with Shodan or a similar search engine. Having accessed a target, they install and execute a malware-riddled Docker image. This entity mines for Monero cryptocurrency and reaches out to its Command & Control server once in a while to retrieve an updated list of other unprotected Docker services. The malware randomly selects the next victim and spreads itself to the new target via the Docker client utility that supports communication with other hosts.

Graboid behaves in a somewhat haphazard way. It pauses its cryptomining job on some compromised hosts while starting it on others. Therefore, each miner is up and running about 65% of the time, and the mining session lasts four minutes on average. This inconsistency allows malicious actors to hide the attack in plain sight. Another thing thwarting detection is that traditional security software doesn’t check for sketchy activity inside Docker containers.

Audio files carrying a cryptomining payload

Researchers at cybersecurity firm BlackBerry Cylance unearthed a highly evasive method of delivering cryptomining malware in October 2019. It uses benign-looking WAV files to spread a Monero miner without conspicuously raising any red flags.

The wicked architects of this campaign have found a way to pollute the data structure of regular audio tracks with the toxic payload. A victim may not notice any issues with the sound quality at all. Meanwhile, the embedded loader element decodes and launches a PE (Portable Executable) file in the background.

The resulting code is a variant of the XMRig Monero miner that siphons off the host’s CPU power. In many cases, the second-stage payload is a combo of the miner and penetration testing code called Metasploit. The latter can be used to access the compromised system remotely by establishing a reverse shell. Another serious concern is that such a mechanism of concealing harmful code inside any file format complicates detection as the underlying code manifests itself in memory only.

Trojanized WordPress plugin mining coins

Phony website plugins are nothing new. They are increasingly used for backdoor access to a compromised server, and in some cases, their purpose is to encrypt the materials on a site and hold them for ransom. Experts from Sucuri, a company providing website protection and monitoring services, have recently stumbled upon an all-new use case. They discovered a fake WordPress plugin that promotes a cryptominer codenamed Multios.

The malicious plugin is a copycat of “wpframework,” a WordPress component that hasn’t been updated for eight years. Although the original entity appears to be obsolete now in 2019, it is still being run on hundreds of sites based on the CMS in question. Therefore, numerous webmasters run the risk of unwittingly downloading the wrong variant of the plugin.

The perpetrators have added harmful functionality to the prototype, turning it into an instrument for unauthorized access to the admin dashboard. It additionally launches a Linux binary that sets cryptomining activity in motion. In light of this ongoing stratagem, the researchers recommend that WordPress site owners inspect their third-party plugins for suspicious activity.

Conclusion

Rogue cryptomining isn’t over. The cases above demonstrate that cybercriminals are evidently trying to think outside the box to get around the growingly effective detection techniques. The primary focus is on obfuscation of the malicious activity through the randomness of the mining process, fileless execution of the malware, and by masquerading the payloads as legit files.

Regardless of the tactics, all of these attacks share the same telltale sign of exploitation: sluggish system performance due to the high consumption of the processing power. This symptom continues to be the main giveaway, and therefore users should keep tabs on their CPU usage to identify the compromise at its early stage and stop it in its tracks.

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There are possibilities that the real number of scams may be even higher as many attacks go unreported. Individuals may not comprehend the technology, but they are seduced by the success of savvy investors who turned a few thousand bucks into billions in the crypto sphere. 

The reason behind the upsurge of scams in the crypto sphere

Scamming is on a meteoric rise in the crypto world, so it is imperative to understand the working mechanism of blockchain technology. A blockchain is a decentralized ledger that verifies and records all the transactions which take place in a network. If you send someone some bitcoins, all the details related to the transaction are apparent to the network, although no one can access your personal information. 

If someone accesses your account, it is quite impossible to track because you can’t take back the transaction. 

Hence, it’s quite simple to see why scams are so rampant in the crypto community. The transactions are irreparable, and there is no central authority to mediate. 

Now, let’s have a look at a few of the popular crypto scams prevalent nowadays. 

1. Fraudulent ICOs

Many consumers venture into the world of the crypto community looking for a great return on investment. Interestingly, if you want a greater return on investment, the easiest option for you is to buy tokens in an ICO (initial coin offering). The demand for new digital currencies is increasing with many new buyers having limited knowledge. This has turned out to be an excellent opportunity for scammers to utilize. There is a drastic upsurge of fake ICOs which can convince people to buy non-existent cryptocurrency. 

2. Phishing

Though phishing is not only limited to the realm of cryptocurrency, you should be aware of it. This type of scam occurs when you receive an unsolicited email which looks like it has been sent from your crypto wallet. A phishing email comprises a link that redirects you to a site that looks quite similar to the wallet provider’s page but is actually a scam site. Once you enter the account details on this fraudulent site, scammers have every detail they require to dupe you of your funds. 

3. Phone porting

Phone porting is among the common scams used on high-profile people in the crypto community. It usually entails a call by an attacker to the target’s network provider. The attacker then ports the phone number of the victim to a SIM card they can control. Note that once the attacker has control over the phone number, they can reset passwords. 

4. Malware

Since the rise of modern technology, malware has been a potent weapon in the arsenal of scammers. The technical nature of cryptocurrency is quite complicated and is not well understood by most individuals. This makes malware an even bigger threat. Rather than pilfering bank account details, malware related to the crypto sphere can get access to your wallet and drain your account. Moreover, you should also be aware of the fact that crypto-malware can monitor the clipboard and replace your wallet address with the scammer’s address.

5. Fake bitcoin exchanges

If you are active in the crypto community, keep an eye out for fake bitcoin exchanges. These bitcoin exchanges may seem credible, but they are merely a front to separate you from your hard-earned cash. Interestingly, these exchanges can also entice you with promotional offers which sound too good to be true. On the other hand, other fraudulent bitcoin exchanges exert pressure on users to create an account and deposit funds with the promise of a bonus. But once they have a user’s money, they can steal it all. According to the latest figures, almost 90 percent of cryptocurrency exchanges may be fraudulent.   

6. Pyramid or Ponzi Schemes

Have you ever thought that a Ponzi scheme is a kind of fraudulent business model? It relies heavily on the earned money of its members and usually emphasizes investment over selling a product. This makes the model more unsustainable as it grows over time. Don’t be enticed to fall into the trap of the Ponzi scheme if it advises that you will get an incredibly high return on investment. Note that pyramid schemes are illegal in the crypto sphere. Moreover, there is no guarantee that the price of Bitcoin will remain the same. Hence, there is a high chance of being duped of your cryptocurrencies.   

How to protect yourself from being scammed in the crypto community?

It sounds like a difficult task to protect your wallet, but note there is a myriad of things you can do to make yourself less attractive to scammers. 

• Always use a password manager along with long-tail passwords
• Refrain from talking about crypto gains online
• Don’t display any personal data online because scammers can easily access them
• Always use two-factor authentication so that you can protect your interests in the crypto sphere
• Always surf on legitimate crypto sites for safe trading
• Avoid phishing attacks by not clicking on emails you don’t recognize

The crypto sphere can be quite intimidating if your account security is not top-notch. Some pretty smart hackers can extract all your funds and account details in a matter of a few seconds. But, with a little effort, you can secure, and be sure that, your crypto will always be yours.

The post 6 Common Crypto Scams appeared first on SiteProNews.

As blockchain shows no sign of slowing down globally, with it’s widespread reach even entering the mobile phone industry, many new players are set to join the crypto hierarchy. 

Facebook could be one of the most solid players on the list. 

Social media giant Facebook is planning to roll out its own cryptocurrency, “GlobalCoin”, in 2020. The currency would enable the approximately 2.4 billion monthly Facebook users to change international currencies into its digital coins. Users would be able to use GlobalCoin for online as well as brick-and-mortar store purchases. It’ll also enable users transfer money without the requirement of a bank account. 

Facebook plans to start testing its cryptocurrency by the end of this year. This April, Facebook founder Mark Zuckerberg discussed his plan with Bank of England governor Mark Carney. Discussions focused on the opportunities and risks involved with the new cryptocurrency. 

How would Facebook’s crypto-currency work?

Facebook’s primary goal, where GlobalCoin is concerned, is to provide users with a digital currency that allows them to make payments in affordable and secure ways, regardless of their bank accounts. The company, which also owns Instagram and WhatsApp, has a far-reaching grasp of the social media market. This means the ability to reach everyday users and perhaps lure them into the cryptocurrency world. The company hopes to disrupt existing networks by eliminating financial barriers while reducing consumer costs. 

Facebook’s cryptocurrency project is nicknamed Project Libra. The social networking site’s plans were first reported last December. The project may work in collaboration with banks and brokers to enable people to exchange dollars and international currencies into digital coins. 

Zuckerberg has also discussed the project with United States Treasury officials and money transfer firms, including Western Union, to develop affordable, safe ways for people to send and receive money. Another report indicates that Facebook is working on a cryptocurrency that would allow people to transfer money using its encrypted mobile-messaging app — WhatsApp. The company has already partnered with many others, including Visa and PayPal, which have invested in the cryptocurrency. 

The lightning rod for regulation

Facebook’s digital coin will work differently from Ethereum, Bitcoin, and other popular digital currency. Also known as Facebucks, Facecoin, Zuck Bucks, the coin won’t be transacted over any public blockchain. This is because Facebook wants to ensure that its digital coin is never used for illegal activities. The Libra Association creates a decentralized network that is governed and monitored by a Facebook-controlled foundation. 

Bloomberg reports that Zuckerberg will first test the cryptocurrency in India for WhatsApp transfers. With the first trial, the company’s aim will be to realize the goal of seamless cross-border payments and remittances anywhere in the world. 

Meaning of ‘Facebucks’ for the crypto market

Facebook’s crypto token is poised to achieve two very important firsts: 

• The first crypto asset launched by a major tech company with a global rollout across both the financial world and consumer web services, and 
• The launch of the most high-profile Stablecoin to ever exist in the history.

Facebucks is going to be a Stablecoin. It aims to reduce the volatility and uncertainty of crypto prices and ensures that transactions remain stable for consumers. This can be done by pegging a cryptocurrency fiat currency, or a basket of assets. Stablecoins can be pegged to a reserve resource such as silver or gold. In some cases, it can serve as a coin where the supply, demand, and exchange rates are controlled for price consistency.

Final words

Facebook’s cryptocurrency could thrive in the fast-growing blockchain industry, providing a stable and secure alternative for money transfers. The firm would facilitate person-to-person payments, e-commerce, and spending on gaming as well as apps services on Facebook-owned properties.

Recently, company executives warn that Facebook could face fines of approximately $5 billion to settle a Federal Trade Commission inquiry into its data privacy practices. Facebook is one of the tech companies, including Amazon and Google, which may face federal scrutiny in the coming months over possible antitrust violations.

The post Facebook is Launching a Cryptocurrency In 2020: Here’s What You Need to Know appeared first on SiteProNews.

What’s more, the cryptocurrency market has been flooded with a lot of run-of-the-mill or even scam projects dressed up as an innovation since the prices started to explode last year. This makes navigating the potential offerings difficult even for experts. 

What are your goals with Crypto?

To assess the risks and potential benefits of cryptocurrency, it’s important to consider a few different things. First, what is your purpose? Do you want to get rich from investing or do you want to use it for some of its more immediately useful qualities? Secondly, which cryptocurrency are you talking about? Are you willing to buy Bitcoin or invest in a fresh but seemingly promising coin? 

Each project looks to tackle a different problem in the world today. Some of these solutions seem useful and could indeed provide a worthy investment or an innovative product. Meanwhile, others are just ‘get-rich-quick’ schemes for their founders and have either folded or produced nothing of worth in months after releasing a whitepaper and requesting funding. There is a lot to think about. 

Using Cryptocurrency

If you actually want to use a digital currency as a means of payment, the risks involved are minimal while the benefits are great. The likes of Bitcoin allow for cross-border, cheap, and fast transactions. You can buy some from a trading venue or brokerage and immediately send it to any corner of the world. Once received, they can sell it using a peer-to-peer exchange and receive whichever fiat currency they need in minutes. 

Clearly, this is a very powerful and potentially disruptive technology we’re dealing with here. Currencies like Bitcoin can be used to completely sidestep traditional banking infrastructure. You can even send them to people with no access to banking at all. Such a transformative innovation would probably be worth investing in too, right?

Investing and holding

Here is the part where the risk comes in. If you’ve watched coins go from just cents less than ten years ago to almost $20,000 in December of last year, you might be thinking that this could make you rich. Well, the truth is, it could. 

However, each digital currency comes with its own set of risks, as well as its own potential to disrupt different industries. Some, like Bitcoin, have stood the test of time and continue to gain in price despite the occasional bubble of hype along the way. Meanwhile, others are a much more speculative investment. 

Bitcoin as the major crypto

That said, even Bitcoin is not a completely safe bet. There could be a technology to come to the market and completely destroy the cryptography that secures the network. Likewise, financial regulators could come down upon Bitcoin so hard that it would slash the price. Even if cryptos were made completely illegal across the globe, it is unlikely that they would die.

Bitcoin does possess some properties that make it the justified king of crypto. First, it has no known founder. This means that no one can influence the direction of the currency or be bribed to change the consensus rules of Bitcoin. 

Bitcoin is also the most secure cryptocurrency. The world’s largest network of computer systems ever created verifies the rules of the network and ensures that every transaction is completely legitimate. No other digital currency offers this level of decentralized security.

Bitcoin shares many properties with gold and represents a sound form of money. There is a finite supply of Bitcoin that is released at regular intervals. It is hugely divisible, easily and cheaply stored, and can be transacted across the globe in minutes. These qualities, combined with its sound monetary policy, make it akin to modern digital gold. 

Finally, Bitcoin has already experienced some promising regulations. The US SEC has stated that it categorically was not to be treated in the same light as a traditional security. So, Bitcoin is much more unlikely than any other digital asset to be regulated into extinction these days. 

What About the Rest?

When we come to alternative coins, there is a whole lot more risk. First, most of them try to compete directly with Bitcoin, but they are unlikely to succeed so far. They still might experience some growth, and they probably will, because there is so much hype in the space. However, investors would need to know exactly when to sell up, which is incredibly difficult. Timing the market requires more time studying charts than is feasible for all but professional traders. 

Other cryptocurrencies claim to solve a plethora of other problems. From the fully programmable base network of applications that Ethereum represents to the likes of Musicoin, seeking to decentralize the music industry. However, these projects represent a far riskier proposition than Bitcoin. Will they deliver on their promises? Does the world even need such a service? Are they legal? These are all questions that an investor-to-be needs to answer.

To conclude

Bitcoin and other cryptos have the potential to be hugely beneficial to humankind. They could remove many of the middlemen in various industries. But cryptocurrencies also hold a lot of risks. Many cannot put to action their promises or just fail, so weigh everything up before investing in crypto and using it.

The post Major Risks and Benefits of Crypto appeared first on SiteProNews.

Last year, Gartner declared Blockchain technology as one of the top 10 technology trends. The global Blockchain market is expected to grow from 210.2 Million USD in 2016 to 2312.5 Million USD by 2021.

Blockchain can reduce bank infrastructure costs by 30%. IBM has invested more than $200 Million in blockchain-powered IOT (Internet of Things).

Given these numbers, it makes sense to take this technology seriously, and understand what it can do for your business in 2018.

How about we start with dissecting Blockchain?

Blockchain is a decentralized, distributed and public digital ledger that records transactions across a number of computers and devices. The best thing about this concept is that one cannot alter the record without changing all subsequent blocks.

Do you recall that sometimes when you transfer money from your bank to someone else, it often takes some time (a few hours at least). This is because the sender (bank) holds the money until the receiving bank confirms the receipt of the amount.

Blockchain, however, does not follow this traditional approach. It comprises just one ledger of transactions between the two banks.

I am sure you use Google Docs for your business. When you share a document with your colleague, you give them the privilege (permission) to either edit or view the document. Let us assume that you have given full rights to the other person.

Now, when your colleague is editing the document, you would not be able to alter that doc. During the period (when the doc is in edit mode at the other person’s device), you are locked out of editing.

Downside?

You will have to wait until your coworker has finished editing that document.

With the new kid on the block (yes I am talking about Blockchain technology), this will not be the case. This technology will eliminate single-points of control and failure.

Benefits of Blockchain Technology

Trust and Transparency

Cryptocurrencies such as bitcoin are in great demand today. Everyone seems to be caught in the wave of this new form of money.

What is the single biggest issue faced by financial institutions?

Security Breaches.

With blockchain technology, financial fraud would be a thing of the past because it would facilitate big chunks of data transfer without the security issues.

This technology has a transparent approach; meaning the transaction is easy to track.

Marketing and Blockchain Technology

We have talked about Blockchain and finance. But that is not where it all ends. This technology has a reach far beyond the confines of money-transfer.

In the current digital marketing scenario, companies such as Google act as intermediaries.

How?

Suppose you want to advertise on your website. You would need advertisers, right?

How would you find advertisers?

Perhaps, through an advertisement network such as the Google Display Network (GDN)?

You could also start data mining and try to find advertisers yourself. But there is always a hint of risk. With a trusted partner such as Google, that “risk” is almost non-existent. In the digital marketing space, this is known as programmatic advertising. Google (via the GDN) would connect YOU and the advertisers; and would take a commission for every transaction.

Blockchain Throws Out the Intermediary

Now imagine this media buying scenario without an intermediary.

Yes, I mean WITHOUT Google. (Don’t hate me for this!)

This would eliminate the commission on their part as well.

In addition, the biggest benefit would be that there would be no room for foul play.

Advertisers pay money when someone clicks on their ads. Often, some companies (and bots) engage in fraudulent and black-hat techniques to show more clicks in order to make more money. This means losses for the advertisers.

With blockchain technology, advertisers and website owners would have ‘transparency’ over the number of clicks and the payments.This will result in reduced online Ad fraud; the amount being $6.5 billion in 2017.

Customer-Centric Marketing

We always rave about customer-focused marketing – bla bla bla. The truth is that few companies actually implement this. We always have this ‘fear’ that companies (such as Google, Facebook and others) have too much information about us. And that is not false by the way! Although Google has strict rules about Personally identifiable information (PII), companies do know much about our lifestyle, behaviors and more. (Blame the “cookies”).

Come Blockchain and this would change forever.

How?

Blockchain is all about trust and transparency. With control on the customer-side (as against the business-side), there will be less intrusion – less annoying ads, fewer email blasts and so on.

No, this does not mean business would start losing money.

On the contrary, Blockchain would pave way for an ‘honest’ marketing approach. Businesses would have fewer (but better quality) prospect-lists.

The post Blockchain Technology: What Does It Mean for Your Business? appeared first on SiteProNews.