The number of Bitcoin addresses with active balances has sur | Tony_Hills on Binance Square

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The number of Bitcoin addresses with active balances has surpassed 50 million. The Bitcoin Network network is growing quickly, showing new investors are coming.
#BTC
#ETFDecisionComingSoon
#PositionStrategically.

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What Is a Burner Wallet A burner wallet is a temporary crypto wallet that users create for potentially risky interactions with various blockchain applications. Burner wallets are not meant for storing large amounts of crypto but should contain just enough for a single or a few interactions. How Do Burner Wallets Work? Burner wallets can be created using hierarchical deterministic (HD) wallets, which can generate numerous accounts from a single secret seed phrase. Every account within an HD wallet has its own private key but is managed under the same seed phrase. To use a burner wallet, you can generate a new account specifically for working with potentially risky blockchain applications or smart contracts. The key is to reduce risks by keeping your primary wallet and funds separate from these activities. For example, you could create a burner wallet when participating in new airdrops or when interacting with a new smart contract that was not audited. By segregating your assets into different types of accounts, such as a primary account for storing most of your assets and a separate burner account for risky interactions, you ensure that even if a burner wallet is compromised, your main wallet and most of your crypto stored on it remain secure. Benefits of Burner Wallets Safe browsing Users often explore new blockchain platforms, but they tend to have vulnerabilities or scam projects. Using a burner wallet when engaging with these new applications is crucial to ensure that even if a platform is malicious or compromised, most of your crypto assets remain secure. Protection against malicious smart contracts By using a burner wallet to interact with smart contracts, you can isolate the potential risks to a separate disposable account. This safeguards your main wallet from being drained in case of faulty smart contracts. Conclusion Burner wallets are temporary cryptocurrency wallets that users can use to mitigate the potential risks related to interactions with various blockchain applications.

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What are Hardware Wallets? Hardware wallets are physical devices that store cryptocurrency keys offline (cold storage), providing an extra layer of security. Even though they're safer from online threats, they can be a bit tricky to use and access compared to other wallets. But, if you plan to keep your crypto for a long time or have a lot of it, a hardware wallet might be a good choice. You can set up a PIN code for extra protection, and most of them let you create a backup recovery phrase in case you lose your wallet. Trezor and Ledger are popular examples of hardware crypto wallets. #security🔒 #SecurityBreach #CryptoSecurityConcerns

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What are Bitcoin CME gaps? Bitcoin CME gaps refer to discrepancies in price between the closing price on a particular trading day and the opening price on the subsequent trading day on the Chicago Mercantile Exchange (CME), which is among the world's largest and most diverse financial exchanges. The CME functions as a marketplace for various financial derivatives, commodities, and other investment instruments. The occurrence of Bitcoin CME gaps is rooted in the fact that the cryptocurrency market remains open during weekends, while traditional markets like the CME are closed. Consequently, variations exist between the closing price on Friday and the opening price on Monday. On Bitcoin charts, identifying CME gaps involves comparing the price levels where the Friday close and Monday open differ. Traders frequently take note of these gaps, as they may later act as significant support or resistance levels. So, are there various types of Bitcoin CME gaps to explore? Indeed, there are three primary types of CME gaps: common, breakaway, and exhaustion. Common gaps are swiftly filled and are characteristic of routine market movements. When a gap is filled, it indicates that the price has returned to the level where the gap originally occurred. Breakaway gaps signify the commencement of a strong trend and manifest during major price fluctuations. Conversely, exhaustion gaps suggest the conclusion of a trend and a potential reversal. $BTC

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About 1.11 million BTC were accumulated between $42,500 and $43,300 zone in anticipation of the ETF approval. If the ETF is postponed then we see heavy selling pressure around this zone. #BTC #ETFApprovalDreams $BTC

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How Do Bitcoin Ordinals Work? The Ordinals protocol is a system for numbering satoshis, giving each satoshi a serial number and tracking them across transactions. Simply put, ordinals allow users to make individual satoshis unique by attaching extra data to them. This process is known as “inscription.” A satoshi – named after Bitcoin's pseudonymous creator Satoshi Nakamoto – is the smallest denomination of bitcoin (BTC). A single BTC can be divided into 100,000,000 satoshis, meaning each satoshi is worth 0.00000001 BTC. Satoshis are numbered based on the order in which they were mined and transferred. The numbering scheme relies on the order satoshis are mined, while the transfer scheme relies on the order of transaction inputs and outputs. Hence the name “ordinals.” The first satoshi in the first block has the ordinal number 0, and the second has the ordinal number 1, and so on. According to ordinal theory, these ordinal numbers act as stable identifiers for the data attached to sats. While traditional NFTs are similar to ordinals in some ways, there are a few key differences. NFTs have typically been made using smart contracts on blockchains such as Ethereum, Solana, and the BNB Chain, and sometimes, the assets they represent are hosted elsewhere. Conversely, ordinals are inscribed directly onto individual satoshis, which are then included in blocks on the Bitcoin blockchain. Ordinals reside fully on the blockchain and do not require a sidechain or separate token. In this sense, ordinal inscriptions inherit the simplicity, immutability, security, and durability of Bitcoin itself. $BTC $ORDI #BitcoinETF💰💰💰 #BitcoinBullRally2024

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