The current Bitcoin ETF proposal has attracted much attention within the crypto currency ecosystem, with investors and traders eagerly awaiting a decision in mid-August that could determine the fate of the crypto market in 2018.

Bitcoin ETF – The highlight of the year
Should the admission of an exchange-traded Bitcoin fund succeed, the crypto currency market could potentially experience an unprecedented inflow of capital, as institutional investors, speed traders and accredited investors will move into the crypto area for the first time.

Interesting: Bitcoin ETF – The Holy Grail of the Crypto Currency Market

The Bitcoin ETF, filed on June 26 as “Notice of Filing of Proposed Rule Change to List and Trade Shares of SolidX Bitcoin Shares Issued by the VanEck SolidX Bitcoin Trust”, is currently being reviewed by the US Securities and Exchange Commission.

The SEC is expected Bitcoin Revolution

The SEC is expected to reach a decision on the filing of the application in mid-August – the filing of the application with the SEC will be followed by the publication of a notification in the Federal Register on July 2. The SEC generally has 45 days https://www.onlinebetrug.net/en/bitcoin-revolution/ to make a decision on a proposed rule change that would leave the date for a decision on Bitcoin ETFs until mid-August. VanEck SolidX Bitcoin Trust CEO Jan van Eck commented on the proposal in an interview with Bloomberg and expressed optimism about the SEC’s decision:

“We believe that together we will build something that could be better than other constructs that are currently finding their way through the regulatory process. A properly designed, physically secured Bitcoin ETF will be designed to be exposed to the price of Bitcoin and the insurance component will help protect shareholders from the operational risks of sourcing and holding Bitcoin.

Bitcoin Code approval may increase market volume

The VanEck proposal provides for the VanEck SolidX Bitcoin Trust to purchase the crypto currency Bitcoin in large quantities to support and safely store the ETF, which is likely to occur in the OTC market, as onlinebetrug described Bitcoin Code in the submission, which states that the trust aims for shares to reflect the performance of Bitcoin prices:

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“The Trust intends to achieve this objective by investing substantially all of its assets in Bitcoin, which is primarily traded on the OTC market, with the Trust also being able to invest in Bitcoin, which is traded on national and international Bitcoin exchanges, depending on liquidity and at the discretion of the Trust.

In particular, the availability of a Bitcoin ETF in the US would allow institutional investors, less technically savvy investors and traders to make simple and rational Bitcoin purchases. The effects of speed traders, who typically handle extremely high trading volumes, could have a significant impact on the price of bitcoin.

BitMEX CEO: $50,000 BTC price after ETF approval
An increase in overall demand for bitcoin should have a strong positive impact on the price of bitcoin. Arthur Hayes, co-founder and CEO of BitMEX, recently predicted a massive increase in Bitcoin if the SEC approved the proposal and stated that an ETF would bring real money to the table in an interview with CNBC’s Fast Money.

But not only he suspects a rapid rise, because a well-known hedge fund trader is of the opinion that Bitcoin could still rise towards $70,000 this year.

hardware wallet
A Hardware Wallet is a device you have to buy. These devices are considered to be the safest wallet if ethers are to be used actively. Even malware on your PC cannot harm your Ether. Initially, the Hardware Wallet creates a seed of 12 to 24 words, which then creates your receiving addresses. In addition, the Hardware Wallet can store multiple digital currencies and not just Ethereum.

Advantages:

Safe storage of the ethers
Active use of the ethers possible
Other digital currencies (ERC20) can be stored
Disadvantages:

acquisition cost

The best Ethereum Hardware Wallets:

Hardware Wallet User-friendly Open Source Currencies
Trezor* Yes Yes Bitcoin, Ether and ERC20 Token, Litecoin etc.*
Ledger Nano S* Yes No Bitcoin, Ether and ERC20 Token, Litecoin, Ripple etc.
Ledger Blue* Yes No Bitcoin, Ether and ERC20 Token, Litecoin, Ripple etc.

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No costs for the Bitcoin Profit creation

A Desktop Wallet is an Ether Wallet for the computer that you can download. On the ethereum.org website you will find several options for a desktop wallet, depending on your operating system. With a desktop wallet, the environment is very important, i.e. whether your computer Bitcoin Profit a free Software┬áis free of malware. Ensure a secure environment and keep your computer free of malware – at least install a permanently good antivirus program*.

Advantages:

Active use of the ethers possible

Disadvantages:

Vulnerable environment
Developer-dependent (updates, security, etc.)

smartphone wallet
You can also download an Ethereum Wallet for your smartphone, depending on your operating system. For all operating systems the Jaxx Wallet. It also applies to the Smartphone Wallet that you must keep your Smartphone free of malware, possibly with an antivirus program*.

Advantages:

No costs for creation and use

Ether can be taken anywhere
Disadvantages:

Vulnerable environment
Developer-dependent (updates, security, etc.)

online wallet
An Ether Online Wallet is a wallet that you create online at a website or service. The website creates the private keys for you and usually holds your private keys for you. For this reason, you should only use Online Wallets in emergencies or for small quantities.

Because as you learned earlier: You do not own your Ether until you have the private keys and keep them safe. Or would you buy a car and leave the keys and papers at the dealership?

Advantages:

Quick and easy creation
Useable anywhere in the world with email and password
Disadvantages:

Vulnerable environment (including phishing)
Holds your private keys
Depends on the service of the provider

A wallet is software or hardware that manages all Ethereum addresses and the associated private keys. With an Ethereum Wallet, ethers can be held, received and transferred.

An Ethereum Wallet is thus a kind of bridge, an interface that manages its own public keys and private keys.

Public Keys and Private Keys
What is a public key?
A public key is a public address, also called the receive address, to which Ether is sent. This receive address can be used to receive Ether. For this purpose, the public address is passed on to a stock exchange or a third party.

An ether receive address always starts with 0x and looks like this, for example:

0xC6D16CBDf1e9C0ed1BdFab42342AE68ADbD24806
The recipient address is a kind of account number for your Ethereum account. And there is an associated private key for each public address.

What is a Private Key?

The private key is a secret access code for the corresponding receiving address. The private key is therefore a kind of PIN for the Ethereum account. And this private key should always remain private!

If you have a private key, you always also have the ethers on the corresponding receive addresses.

A private key then looks like this, for example:

c50721616c4c520a2dc4522d9c3bbf46770ec15189bac1fd9cc3df14e06a61166e
This private key is the access code for the upper ether receive address. If ethers were stored on the receive address, anyone could steal the ethers with this private key.

Never store ethers on a PC
Once the basics of the private and public keys have been understood, another misconception must be corrected. Ether does not “store” on the PC or smartphone. If the PC is destroyed, for example, you could still access the Ether if you have the private keys.

Remember: You only own your Ether if you have the private keys and keep them safe.

Types of Ethereum Wallets

There is not one Ethereum Wallet. Ethereum is decentralized and open source, everyone can participate and work in it. That is why different types of wallets develop over time.

paper wallet
A paperwallet is the “simplest” form of a wallet and can also be very secure. The paper wallet consists of a single Private Key – Public Key – Pair, which can be created in different ways. Paperwallets are usually only used for long-term storage. With this wallet the ethers cannot be used actively. If you want to use your Ether later, you will need some technical understanding and a desktop or smartphone wallet.

Advantages:

Safe storage of the ethers
Low production costs

Disadvantages:

Secure creation is complex and time-consuming
No active use of the ethers