Leveraging Crypto Trading Tools > Cryptocurrency Checklist 14

Cryptocurrency trading is a strategic approach for a business to incorporate cryptocurrency into its business. Cryptocurrency trading entails the buying and selling of cryptocurrencies on an exchange platform with the intent of making profits or speculating on the price movements of specific cryptocurrencies by opening a CFD trading account. In order to be an effective cryptocurrency trader, it is important to leverage myriad tools and educational materials that provide an overview of the market in a given period and the factors or news that are likely to influence the price movement of a cryptocurrency either upwards or downwards.

When engaging in cryptocurrency trading, it is important to analyze market statistics in order to gain insights into the better performing coins, price movements of crypto-related assets, as well as important dates such as cryptocurrency-related conferences and programs. Cryptocurrency trading tools make it easier for traders and potential traders to effectively analyze the market before undertaking a trade.

Here are factors to consider in cryptocurrency tools that are crucial to your trading activities.

Part 1 – Leveraging News Aggregator Tools

1 Does the news aggregator tool have a simple UI?

2 Does it provide good quality cryptocurrency news?

3 Does it source the news from reputable and reliable sources?

4 Are the features therein customizable?

Part 2 – Utilizing Crypto Events Calendar

5 Does the calendar include exchange delisting activities?

6 Are there updates regarding crypto bounty programs

7 Does the calendar contain updates regarding Coin burns, Airdrops and Forks?

8 Does it contain updated information regarding conferences, programs, and events related to cryptocurrency?

9 Does it contain updated important dates regarding major coins?

Part 3 – Utilizing Coin Price Trackers

10 Does the tracker contain advanced filtering options?

11 Are there built-in cryptocurrency price converter?

12 Does it show latest coin price updates?

13 Is the market capitalization and volume shown?

14 Does it show side by side price comparisons for different coins?

15 Does it show price explorations for opportunities?

16 Does the tracker show the percentage change between the current price and the market price?

Part 4 – Charting Tools

17 Does it come with free and premium options?

18 Does it offer flexible visualization capabilities?

19 Is it possible to plot out strategies on the tool?

Notes:

  • News aggregator tools options include CoinSpectator and CryptoPanic
  • Crypto events calendars include CoinsCalendar, CoinMarketCal
  • CoinMarketCap and CryptoCompare are some of the renowned coin price trackers in the market

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Analyzing Crypto Market Data, Charting Tools, and Network Statistics > Cryptocurrency Checklist 13

Obtaining real-time market data when trading cryptocurrencies is crucial to avoid making losses. However, while drawing market data is instrumental in understanding the trajectory of specific cryptocurrencies, it is essential to integrate it with other components of trading such as network statistics and charting tools in order to minimize trading related errors. A market data analysis allows you to understand important factors such as the prices, supply and volume of coins in the market.

Leveraging network statistics allows you to assess the important aspects of a given cryptocurrency before undertaking a trade. When selecting platforms that offer market data, charting tools, and network statistics, check that the platforms are flexible and offer unique features.

This checklist provides a guide on what to look for in charting tools and market data.

Network Statistics

1 Select a tool that provides statistical network analysis of cryptocurrencies

2 Check that there is analysis of major cryptocurrencies like bitcoin and Ethereum

3 Ensure that there is data regarding the activities of development teams for different coins

4 Check that the tool showcases the level of activity of your interested coins

5 Check that there is provision of technical analyses

6 Evaluate the activities of open-sourced projects on the tool

Market Data

7 Check that your selected tool offers real-time data

8 Check for the availability of price action data

9 Ensure there is provision of accurate information regarding market supply and market supply

10 Check the API associated with the tool

11 Evaluate whether coins are categorized in terms of top losers and gainers, or scam

12 Check for provision of unique statistics

Portfolio Tracking

13 Check that your selected tracker links to your wallet and exchange

14 Select a portfolio tracker with updated and top-notch security features

15 Check for flexibility in terms of the number of coins tracked

16 Check for affordability

17 Assess ability to calculate historical data

Crypto Reports, Trading Bots, Crypto Tax Tools

18 Select trading bots/automated trading based on your set strategy (options include Gekko and HaasOnline)

19 Use crypto tax tools such as Token Tax for your tax calculations

20 Select crypto research reports that provide statistical and fundamental reviews

21 Select reports that offer future outlook of the market

Notes:

  • Tools that offer network and technical analysis include CryptoMiso, BitcoinVisuals
  • Common portfolio trackers include Blockfolio, Blox, CoinStats, Cointracking
  • CryptoCompare, Coinmarketcap and OnchainFX are renowned for market data analysis

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Selecting the Best Exchanges > Cryptocurrency Checklist 12

Cryptocurrency exchange, also referred to as a digital currency exchange (DCE) is a platform that facilitates the exchange of cryptocurrencies either through crypto trading or through exchange of crypto to other assets, as well as fiat currency. There are several cryptocurrency exchange platforms in the market with differing features and offerings. In order to choose an effective exchange platform that suites the needs of your business, it is important to compare core features of the available options.

Essentially, crypto exchange platforms mediate between buyers and sellers and make profit by charging commissions on transactions therein. As such, a good exchange platform option is one that is conducive to both you and your clients in terms of commission fees, flexibility, and ease of use among other factors.

This checklist provides a guide into features and factors to look out for when selecting a cryptocurrency exchange.

Part 1 – Security

1 Check that the exchange is secure

2 Check that the exchange requires multi-signature verification/authorization

3 Choose an exchange with cold storage

4 Select an exchange that has been around for a while

5 Choose an exchange with a high number of users

Part 2 – Fees and Commissions

6 Ensure that your selected exchange does not have hidden fees

7 Select exchange platforms with their own exchange tokens (Binance has its own tokens)

8 Check for availability of discounted fees, commissions, and discounted rates

9 Check for platforms that offer rewards credit card (a good example is BlockFi)

Part 3 – Accessibility

10 Evaluate the accessibility of the exchange platform in terms of jurisdiction

11 Be on the lookout for any jurisdiction-based regulatory uncertainties

12 Be knowledgeable about cryptocurrency rules in specific countries where the exchange platform is based

Part 4 – Ease of Use

13 Select exchange platforms with easily navigable user interface

14 Check out that the platform has basic and advanced layouts for different clients

15 Ensure the exchange is robust and supports mobile devices

Part 5 – Reputation and Customer Support

16 Review the platform’s reputation based on online reviews

17 Check how promptly the platform responds to customers

18 Evaluate how emphatic the platform is on superb customer care

19 Check that the exchange offers 24/7 customer support

Part 6 – Liquidity and Coins Offered

20 Go with exchanges with the largest trading volumes

21 Check the flexibility of the exchange in terms of coin selection

22 Evaluate the available buy/trade options

Part 7 –Insurance and Educational Tools

23 Check whether there is provision of insurance

24 Evaluate the deposit and withdrawal limits of the exchange rates

25 Select an exchange platform that offers educational tools regarding cryptocurrency

Notes:

  • Some of the most renowned crypto exchanged platforms in the market include Coin Base, Binance, Coinmama, Kraken, Square, BlockFi, Gemini, Bitfinex, Coin Base Pro, FTX
  • Some platforms that offer insurance include FTX, Bittrex, Coinbase, Binance, and Gemini

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Building Your Own Cryptocurrency (Especially For Blockchain Related Startups) > Cryptocurrency Checklist 11

Creating your own cryptocurrency especially if your business leans more towards the block-chain related business is a good strategy of incorporating cryptocurrency into your business. Many block-chain related startups are leaning more towards creating their own cryptocurrencies as an option in support of a virtual product or as an option towards monetizing their ideas. Creating your own cryptocurrency has several perks such as reducing fraud associated risks, access to a wider market, faster transactions, as well as efficiency and transparency.

Before embarking on cryptocurrency, it is important to assess the likely impact of crypto on your business and the availability of the resources and infrastructures necessary for the development of a new cryptocurrency. The cryptocurrency creation process can be undertaken in three methods which include forking an existing blockchain, creating a new blockchain, and making use of an existing platform.

This checklist is a step-by-step guide on how to create your own cryptocurrency.

Step 1 – Define your Use-Case

1 Check that your objectives for the crypto are clearly defined

2 Determine whether or not your business lies in the smart contracts area

3 Assess whether your business is in the lines of smart asset management

4 Check that your business has interests in data authentication and verification

Step 2 – Decide on a Consensus Mechanism

5 Check that the design is simplistic

6 Ensure the mechanism can resist a wide variety of cyber attacks

7 Select a mechanism with a reduced energy consumption

8 Check the mechanism’s computation

Step 3 – Choose a Blockchain Platform

9 Check out the structure of information

10 Evaluate the platform’s scalability and throughput

11 Assess the availability of developer tools

12 Evaluate the adoption rate by analyzing the strength of the community

Step 4 – Design the Nodes

13 Select a base operating system (options include Redhat, Ubuntu, CentOS, Fedora)

14 Determine hosting (whether on the cloud or on premise)

15 Determine whether the nodes will be public, hybrid, or private

Step 5 – Design Your Blockchain’s Internal Structure

16 Select your permissions, address formats, and asset issuance

17 Decide on key formats, key management, and atomic swaps

18 Establish your parameters, blockchain signatures, and multisignatures

19 Establish handshake rules

Step 6 – Integrate APIs

20 Select a blockchain platform that comes with in-built APIs

Step 7 – Design the Interface

21 Check that it is user friendly

22 Check that communication between users and the blockchain is seamless

23 Consider the language, external databases, mail, web, and FTP servers

Step 8 – Legalize your Cryptocurrency

24 Analyze the regulations, rules, and trends surrounding cryptocurrencies in your region

25 Continuously grow and develop your cryptocurrency

Notes:

  • Popular consensus mechanisms include the Proof of work, Casper of proof of stake, and the Delegated Byzantine Fault Tolerance
  • Avoid mechanisms with wasteful computations to minimize wastage of energy
  • Popular blockchain platforms include Ethereum, EOS, NEMNxt (NXT),
    BlockStarter, CoinList, Waves (WAVES), BitShares 2.0, IBM Blockchain

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Successful Online Freelancing > Free Online Business Report

Online Business report “Successful Online Freelancing” looks into: Freelancing – 21st Century Way of Making a Living. Cool Benefits & Drawbacks. How to Get Into The Freelancing Business. Where To Look For Customers In Masses and In Closing: Is Freelancing Really The Way To Go? Click “Successful Online Freelancing” to download (345 KB pdf) this free report.

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30 Day Service Provider Blueprint > Free Freelancing Setup Report

Freelancing & Service Provider report “30 Day Service Provider Blueprint” is a step by step 30 day plan to setup a Online Freelancing service. Some of the procedures include: Decide Whether Freelance Work Is Right for You. Learn Ways to Improve Your Skills and Offers. Have a Package Your Customers Can Order. Sign Up for Social Networking Sites. Create a Competitive Price Sheet. Use a Tool to Find Buyer-Relevant Keywords and Blog with Them. Find Something That Sets You Apart. Sign Up for Online and In-Person Marketing Events. Click “30 Day Service Provider Blueprint” to download (248 KB pdf) this free Online Business report.

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30 Day Private Label Rights Launch > Free Product Creation Report

Online Marketing report “30 Day Private Label Rights Launch” is a step by Step process using Private Label Rights to create a product. Some topics include: Create a Master File of Top PLR Topics. Find a Way to Set Yourself Apart from Other PLR Vendors. Set a Schedule and Start Creating the Content. Order or Create Your Product Images. Set Up Your JV Page with Launch Details. Write Your Sales Letter for the Main Product. Polish Your PLR to Meet Customer Expectations. Increase Your Earnings from All That Initial Work. Click “30 Day Private Label Rights Launch” to download (199 KB pdf) this free report.

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Paying for Goods and Services for Your Business Using Cryptocurrency > Cryptocurrency Checklist 10

Cryptocurrency is the future of currencies and as such, many business are embracing the use of different coins in their everyday business transactions. Advantages associated with crypto such as immunity from geographical restrictions, as well immunity from government regulations are among the factors that are fueling the increasingly high penetration of cryptocurrencies’ use especially among entrepreneurs. Further, the high sense of security of the blockchain technology used in the development and management of cryptocurrency transactions propels the popularity of cryptocurrency.

One of the most important aspects of cryptocurrency implementation is that it minimizes problems associated with data validation in that once a transaction is conducted, all parties receive the same ledger detailing the transaction. As such, paying for goods and services for your business using cryptocurrency fosters transparency and efficiency in business transactions.

This checklist details the factors to consider when implementing cryptocurrency in your everyday business transactions.

Part 1 – Paying Salaries in Cryptocurrency

1 Provide cryptocurrency options to pay as salaries for workers

2 Select coins that suit your employees’ risk appetite/risk profile

3 Consult your workers on their preferred ratio of fiat-crypto to receive

4 Set a monthly date for the fiat-crypto conversion rate

5 Use the crypto’s market rate as the conversion rate

6 Consider tax rules associated with cryptocurrencies in your region

7 Evaluate the potential future limits on cryptocurrency usage

8 Introduce your workers to the appropriate tools for liquidating their crypto

Part 2 – Paying Suppliers in Cryptocurrency

9 Pay suppliers especially across-borders with crypto

10 Consider the associated liquidity levels

11 Determine if there are challenges in terms of limitations of crypto transactions from the supplier’s end

12 Evaluate scalability of cryptocurrency from your supplier’s end

Part 3 – Paying Dividends

13 Consider developing coins for your business

14 Use popular technology such as the Ethereum technology in the development of your crypto

15 Raise funds for your coin through Initial Coin Offering (ICOs)

16 Reward your investors with your cryptocurrency as a share of profits

17 Pay your investors’ dividends using your coin

Note:

  • Paying for supplies with cryptocurrency is relatively faster especially across borders compared to credit card or bank payments that take a comparatively longer duration to process

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Allocating Your Cash Reserves Into Cryptocurrency > Cryptocurrency Checklist 9

As a result of economic uncertainties coupled with higher inflation rates, many entrepreneurs, businesses, companies, as well as organizations are often on the lookout for viable ways of hedging their funds from inflation-related fluctuations. However, while cryptocurrencies are also subject to high levels of volatility, they are strategic alternatives for hedging your money against inflation over time due to the fact that they are fewer in circulation. Characteristically, many cryptocurrencies’ have capped their circulation and potential growth in the market.

Further, the fact that cryptocurrency is not regulated by governments or financial institutions makes it a more viable and potentially lucrative option for your cash investments. Cryptocurrencies put a limit on the maximum number of coins that can be in circulation and this increases their value. For instance, there will only be 21 million bitcoins in circulation. However, due to the high volatility characterizing cryptocurrencies, it is important to determine the amount of cash reserves for your business to allocate to cryptocurrencies.

Consider the following when allocating your cash reserves to cryptocurrency.

Part 1 – Select a Cryptocurrency/Company

1 Compare the market cap of different cryptocurrencies (in history and presently)

2 Evaluate the crypto’s availability in a majority of the major exchanges

3 Analyze the total supply and amount in circulation

4 Be keen on developers’ activities on your selected cryptocurrencies

5 Analyze the coins’ relation to others and movements up and down

6 Select a company with crypto-related interests

7 Assess the value and potential of your selected company

Part 2 – Deciding the Percentage to Allocate

8 Assess your business appetite for risk

9 Determine a practical percentage for your business to allocate to cryptocurrency

10 Start slow at about 1-2% and continue adding your allocation as you learn more

11 Consider diversifying your allocation across best performing cryptocurrencies

12 Avoid allocating more than 5% to cryptocurrency to avoid the impact of volatility swing on your portfolio

Part 3 – Diversifying Allocations

13 Consider investing in crypto-related companies

14 Purchase stocks in companies with a stake in crypto’s future

15 Allocate a percentage to more specialized index funds in a company with crypto interests

16 Allocate equal portions to individual stocks and personalized index funds to balance your portfolio

17 Analyze the charges for buying shares in companies with vested interests in crypto

18 Check that your investments are diversified over a broader fund

Notes:

  • Use tools such as Holding Search to find out all the cryptocurrency-related mutual and index funds related to a company
  • Some of the renowned companies with vested interests in cryptocurrency include Tesla, PayPal, Square, Marathon Digital Holdings (MARA), Bitfarms (BITF)

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Storing Your Crypto in Cold Storage > Cryptocurrency Checklist 8

The increase in usage and value attached to cryptocurrency has fostered a subsequent increase in theft, hacking, and fraud cases, which makes it increasingly challenging for cryptocurrency holders to address as a result of the relatively vague or non-existent regulatory frameworks that surround cryptocurrencies. The most common or readily available wallets or storage options are categorized as either hot or cold storage. While both hot and cold wallets are viable storage options, they differ when it comes to security and charges in that while a hot storage is free and provides ease of access to your cryptocurrency due to internet connectivity, it is not as secure as a cold storage.

Cold storage entails storing cryptocurrency offline, secured from any internet connectivity. Cold storage provides one of the safest options for cryptocurrency storage in the sense that your cryptocurrency is protected from vulnerabilities that may arise due to computer malfunctions or hacking.

Here are factors to consider when storing your cryptocurrency in cold storage.

Step 1 – Selecting a Cold Storage Option

1 Select a cold storage option that is ideal for your business

2 Evaluate the affordability of the cold storage option

3 Check the reputation of a cold storage provider

4 Determine the number of cryptocurrencies supported by your selected cold storage option

5 Ensure the cold storage option provides the highest level of security

6 Check for additional unique features

Step 2 – Generating a Public/Private Keypair

7 Create an offline cryptocurrency address

8 Check that the address contains a private/public keypair that is not created on the internet

9 Ensure that the keypair is not exposed to the internet

Step 3 – Saving the Public/Private Keypair Offline

10 Save the web page that generates the keys

11 Ensure that your device is disconnected from the internet

12 Open the saved webpage on your desktop

13 Generate the Keypair

Step 4 – Printing the Page

14 Print out the private/public keypair on a secure printer

15 Consider writing the Keypair on paper (might be complex and subject to human errors)

16 Check that the printed page contains a public address of your cryptocurrency containing both an alphanumeric form and QR code form

17 Ensure the corresponding private key is also in alphanumeric form and QR code form

Notes:

  • Cold storage options come in four distinct methods namely; Paper Wallets, Deep Cold Storage, Hardware Wallets, Sound Wallets
  • Available cold storage wallets/providers include Trezor Model T, Ledger Nano X, Opolo
  • A public/private keypair is an email address and a corresponding password
  • Be on the lookout for address-generating tools

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How To Promote Your Content In Another Facebook Group > Facebook Marketing

When you think about marketing via a Facebook group, you probably think about creating your own Facebook group and then using this in order to promote a product or service that you’ve created. While this is an effective and viable option for promoting your business however, it is only one of several marketing strategies involving the use of Facebook groups. In fact, one of the best ways to use a Facebook group is by using groups made by other brands and users. But there is a way to go about this if you want to be successful. Read on to make sure you get it right!

Choosing the Right Group

This is what we call the Ego to market strategy. It means finding somewhere that your target demographic is likely to spend time, and then marketing to that specific group. For example, if you sell martial arts supplies, then you might look for Facebook groups about martial arts, UFC, karate, or even Jackie Chan movies.

The key is to make sure that the group members match your ideal target demographic (or buyer persona) as closely as is possible. Ideally, the subject of the group should almost precisely match the industry you are in.
At the same time though, as we can see in this example, there is also some benefit to occasionally trying related and tangential topics. Someone who doesn’t do martial arts but DOES love Jackie Chan, might consider buying a book on kung fu for example. By looking for tangentially related subject matters, you can often open up your products to entirely new potential customers. This is also a great way to increase your readership if you run a blog or website.

Contributing

While missing the mark with your niche is a common mistake, its actually the less serious mistake that gets made. More serious is when you post your content to a group and the moderators remove your post and remove you from the group! This happens a lot because you might look as though you are simply spamming the group and using it for self-promotion (which you kind of are).

The solution then is not to start using the group for self-promotion right away, but to FIRST use it as it was intended. Answer questions, post interesting blog posts, and generally try to make a name for yourself. This is the secret ingredient that so many marketers are missing.

 

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How to Write a Compelling Sales Script > Sales Conversion

Writing a compelling sales script is all about persuasion. The question is whether you can convince your audience that the product you’re promoting is interesting enough to look into further and whether you can compel them to ‘convert’ by clicking the buy button there and then. The best strategy here is to employ a number of psychological strategies and if you get this right, you’ll find it’s almost impossible for your readers to turn away. Here are some of the things you need to consider…

Engagement

As soon as your readers find your sales page, you need them to get hooked. They need to feel so engaged that they can’t possibly turn away without buying and to do that, you need to grab them and reel them in right away. One fantastic tool you can use to do this, is a narrative structure. In other words, you start your sales pitch like a story and then go on to expand on that story throughout the entirety of the piece. We are naturally inclined to listen to stories and find it very hard to cut them off mid-way. That makes this a highly effective strategy and one you should definitely use.

Social Proof

People are highly influenced by other people and if you can demonstrate that your product is successful and popular, then this can go a huge way to encouraging your audience to buy. Not only that, but social proof can help to remove the risk of buying a product from an unknown source.

Emotional Hook

To make any product all the more desirable and engaging, it’s important to think about the emotional hook. In other words, what is it about your product that makes it truly desirable and makes people want to buy it? Ideally, you want to get your audience to picture owning it and to think about how much it will be able to help them in life.

Time Pressure

Finally, apply time-pressure and make sure that your audience buys right there and then. In other words, don’t give them the option to go away and ‘think about it’, as the vast majority of purchases are impulsive. Give your audience a chance to think about what they’re buying and they’ll be much more likely to decide it’s not worth the money. Make them act quickly and they’ll act on the emotions you’ve stirred up!

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Allowing In-store Cryptocurrency Payments > Cryptocurrency Checklist 7

Many of the world’s largest organizations as well as small and medium companies, businesses and organizations are accepting in-store cryptocurrency payments. The explosive popularity of cryptocurrency in the business arena is prompting more businesses to incorporate the technology as a payment option for their goods and services. The market is awash with tools, companies, and platforms that make it easier for businesses to implement the acceptance of cryptocurrency as a payment option for purchases.

Essentially, integrating crypto payments in your business fosters quicker transactions and with the intense security associated with the blockchain technology used to develop cryptocurrency, you are assured of safer transactions. As such, cryptocurrency offers your customers an efficient and transparent way of carrying out payments to your business. At the same time, cryptocurrency payments to your business allow you to receive funds quicker thus allowing a smooth flow of operations.

Here are factors for consideration when allowing in-store cryptocurrency payments to your business.

Part 1 – Client Onboarding/ Web Host Flexibility

1 Explain the value preposition to your clients (why cryptocurrency is beneficial for them and the business)

2 Detail the process flow changes that are likely to occur due to the use of cryptocurrency

3 Evaluate the flexibility of your web host

4 Determine ease of integration of crypto payments to your site

5 Check that your web host provides plugins that ease the integration process

Part 2 – Cryptocurrency Wallet

6 Select a wallet for your cryptocurrency

7 Choose wallets with the capacity to store different cryptocurrencies

8 Check the ability of the wallet to integrate with banks and other finance platforms

9 Evaluate whether or not the wallet allows you to create data backup

10 Check that the wallet comes with a private key

11 Check that the wallet has payment button features

12 Check for features such as custom integration and invoices

Part 3 – Crypto Payment Processor

13 Select a payment processor that is supported in countries where you conduct your business

14 Evaluate the processor’s customer support

15 Evaluate the affordability of the processor’s transaction fees

16 Look up the processor’s security measures

17 Check that the processor’s payout frequency is ideal for your business

18 Check out the processor’s reviews online

Notes:

  • Platforms such as Shopify, Magenta, and WooCommerce have plugins that make it easy to integrate cryptocurrency payments
  • Some crypto payment processors carryout payments in one day while others take 3-5 days
  • Some of the renowned payment processors in the market include BitPay, NOWPayments, Coinbase Commerce, and PayPal

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Running A Node > Cryptocurrency Checklist 6

Nodes refer to internet connected devices that provide support, efficiency, and security to a blockchain platform. Nodes perform myriad functions including verifying transactions, processing data, processing transactions, acting as a point of communication by connecting with other nodes, and storing and encrypting information in a block.

Characteristically, nodes are used by developers in the development of applications that are blockchain-based. Essentially, the process of running nodes is complex and often characterized by excessive expenses and time consumption and as such, most people opt for the services of node service providers with the necessary tools and infrastructures as alternatives to self-running. When running nodes, it is important to ascertain that the network, hardware and software meet set parameters and conditions. Markedly, the classification of nodes is based on availability and nodes differ based on functionalities. Nodes come in myriad distinct types namely; lightning, full, archival, pruned, mining, super, light and authority nodes to name a few.

Here is a guide for running a node.

Part 1 – Selecting your Blockchain Service Provider

1 Evaluate the back-end services

2 Check that the blockchain-enabled systems and processes are user-friendly

3 Assess the level of security provided

4 Check out their pricing options

5 Evaluate the terms of service support

6 Analyze previous experience or track record in developing blockchain technologies

7 Analyze the post-deployment support

8 Check availability of Modular codebase for customization purposes

9 Ensure it has ease of integration with multiple products and services

10 Check the ability to solve issues to do with node synchronization and interoperability

11 Assess the APIs’ access by other cryptocurrencies

Part 2 – Deploying a Node

12 Check that your device has the latest version of Mac OS X, Windows or Linux

13 Ensure your device has a Broadband Internet connection

14 Check that your SSD has performance capabilities of 68 MB / s random write and 30.9 MB / s random read

15 Check that your device has 500 GB or more of free disk space available

16 Ensure your internet connection is unlimited with no upload limits

17 Ensure your disk has a minimum read speed of 100 MB/s

18 Check availability of multiple synchronization techniques for ease of integration

Note:

  • Third party service providers include Alchemy, Infura, Blockdaemon, Getblock, QuikNode

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Integrating Cryptocurrency In Your Website > > Cryptocurrency Checklist 5

In addition to credit cards, cash, and mobile payments, cryptocurrency payments are growing in popularity as more businesses are embracing the use of cryptocurrency on their websites as a mode of payment. Integrating cryptocurrency into your website is strategic due to the futuristic tendencies of crypto. Further, incorporating crypto into your business is instrumental in terms of capturing new target clients in addition to fostering better control of cash flow in your business. More businesses are going digital and the businesses that are taking advantage of cryptocurrency are in a better position to attract a new niche of clients, are likely to go global, as well as fostering efficiency and transparency in their operations.

Integrating crypto is not a complicated process in that cryptocurrency is characterized by inbuilt wallet and payment systems. As such, in order to incorporate the use of cryptocurrency in your website, the strategic approach is creating a checkout page on your website that allows crypto as a mode of payment.

Here is a how-to guide for incorporating cryptocurrency in your business.

Step 1 – Selecting a Merchant Digital Wallet

1 Consider the fees and commissions charged

2 Determine ease of integration in your site

3 Examine the security of the wallet

4 Determine whether the wallet supports big coins such as Bitcoin and Ethereum

5 Check that the merchant offers necessary plugins for incorporating crypto in your site

6 Consider merchant digital wallets that use tokenization

7 Evaluate the wallet’s customer support offering

8 Determine whether your platform supports the integration of crypto payment processors

9 Check that the payment processor supports payments for both merchants and consumers

Step 2 – Adding Cryptocurrencies

10 Add your preferred crypto coins to be accepted

11 Check that the wallet can accept different coins

12 Ensure that your merchant digital wallet comes with unique string codes and a QR code

13 Check whether transactions are converted to cash

14 Evaluate whether there are restrictions on the digital currencies to accept on your site

Step 3 – Integrating Crypto in your POS

15 Ensure that you receive an address and private key upon completion of your merchant wallet setup

16 Check that you have received a scannable QR code

17 Address your address, QR code and private keys to your POS system

18 Check that your merchant wallet is integrated into your invoices and online shopping cart

19 Use your QR to integrate the merchant wallet both digitally and physically into your POS systems

Notes:

  • Merchant wallets such as CoinPayments offer a step-by-step guide on incorporating crypto in your site
  • Other popular crypto payment processors include BitPay and Coinbase
  • Platforms such as Shopify and WooCommerce support the integration of crypto payment processors such as BitPay and Coinbase

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