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How Crypto-Anarchy Can Help You To Reclaim Your Privacy, Personal Liberty, and Financial Sovereignty

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Crypto-Anarchy

Crypto-anarchy may be a scary sounding term for some. However, the only people who should be afraid of crypto-anarchists are authorities who actively seek to limit the freedom of individuals.

In this article, you will be introduced to what crypto-anarchy is and why the tools and technologies that crypto-anarchists use are more important today than ever before.

What is Crypto-Anarchy?

Crypto-anarchy is the cyberspatial realization of anarchism. Crypto-anarchists are people who deploy cryptographic software and privacy-enhancing technology to evade persecution from the state while perpetuating their privacy and financial sovereignty, and political freedom. 

Crypto-anarchy was born out of the Cypherpunk movement, which started in the late 1980s. The Cypherpunk movement started in San Francisco and included figures such as BitTorrent’s Bram Cohen, Blockstream’s Adam Back, Wikileaks’ Julian Assange, Blockstream’s Adam Back, Zcash’s Zooko Wilcox-O’Hearn, and early-stage Bitcoin developer Hal Finney. 

Crypto-anarchy was first publicly propagated through the Crypto-Anarchist Manifesto, which was published by Timothy C. May in 1992.

In the manifesto, May wrote:

crypto-anarchy“Computer technology is on the verge of providing the ability for individuals and groups to communicate and interact with each other in a totally anonymous manner. Two persons may exchange messages, conduct business, and negotiate electronic contracts without ever knowing the True Name, or legal identity, of the other. Interactions over networks will be untraceable, via extensive re-routing of encrypted packets and tamper-proof boxes which implement cryptographic protocols with nearly perfect assurance against any tampering. Reputations will be of central importance, far more important in dealings than even the credit ratings of today. These developments will alter completely the nature of government regulation, the ability to tax and control economic interactions, the ability to keep information secret, and will even alter the nature of trust and reputation.

The State will of course try to slow or halt the spread of this technology, citing national security concerns, use of the technology by drug dealers and tax evaders, and fears of societal disintegration. Many of these concerns will be valid; crypto anarchy will allow national secrets to be traded freely and will allow illicit and stolen materials to be traded. An anonymous computerized market will even make possible abhorrent markets for assassinations and extortion. Various criminal and foreign elements will be active users of CryptoNet. But this will not halt the spread of crypto anarchy.”

It turns out, May was right with his predictions.

What Crypto-Anarchy Can Teach You About Privacy, Liberty, and Financial Sovereignty

As we know from Edwards Snowden’s NSA revelations, Facebook’s misuse of personal user data, and Amazon Alexa’s recording of its users, we are losing our privacy more and more every day. While some argue (with some merit) that we are simply handing it over by sharing too much (easily harvestable) information on social media, intelligence agencies have been spying on citizens and their entire digital lives for decades.

This is something that has always been going on but has only recently been made public when Edward Snowden blew the whistle on the NSA’s global spying program. But despite the public outcry, these spying programs are still being sanctioned by our elected leaders today.

This bleak reality suggests that if you want privacy in this increasingly digitalising society, you need to take matters into your own hands. That is where crypto-anarchy comes into play.

Since crypto-anarchists do not want government agencies or anyone else for that matter, knowing what they are up to they utilise privacy-enhancing technologies to communicate, peer-to-peer networks to engage in commerce and cryptocurrencies to transact.

To surf the web without being tracked, they use the Tor browser. Tor disguises your identity by moving your Internet traffic across different Tor servers so that it cannot be traced back to your IP address location.

To communicate via email, PGP encrypted email services such as Proton Mail are used. Unlike Gmail, Proton does not read your emails. They are end-to-end encrypted, which makes it de facto impossible.

For messaging on the go, encrypted mobile messaging services such as Signal are preferred over Facebook-owned WhatsApp.

To make payments online – you guessed it – crypto-anarchists use decentralised digital currencies such as bitcoin (BTC) and even more so, anonymous cryptocurrencies such as Monero (XMR) and PIVX (PIVX).

These are just a few of the most common tools that cypherpunks and crypto-anarchists use to protect their privacy and to preserve their financial sovereignty.

Why You Should Take Crypto-Anarchists Serious

Now you may be saying to yourself: “Why should I care about crypto-anarchy? This is total over-kill. I don’t engage in political activism nor am I a target for the state.” While this may be true, do not forget that history has shown us how easily the tide can turn and individual liberties can be limited.

Not only has The Patriot Act in the U.S. shown us how willing governments are to spy on its own citizens even if they are not engaged in any criminal activities but the new social credit ranking system that is being implemented in China shows us clearly how our digital data can be harvested and used against us in a heartbeat.

This article is not meant to convince you to “go dark” like you are being chased by the C.I.A. or switch off all your electronic devices and go live in a cabin in the woods so that “the government” cannot get to you.

Instead, the purpose of this piece is to introduce you to the technologies that are being embraced by the crypto-anarchist community that you can utilise to protect your online privacy, reclaim some of your lost liberties and increase your level of financial sovereignty.

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How to Trade Cryptocurrency on Sikix.io

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Sikix Dashboard

Sikix is a decentralized exchange that allows users to have full control over their funds while trading digital assets. In this guide, you will learn how to trade cryptocurrency on Sikix.

Opening an Account on Sikix

To start trading on Sikix, you have to create an account.

Here are the steps you will take:

  • Visit the Sikix website
  • Click “Register Account”

Sikix

  • Enter an account name and password
  • Hit “Confirm”
  • Save the seed file to your computer and click “I’ve Backed It Up.” You should store your seed phrase safely because the platform cannot restore it for you.
  • Click the settings icon to verify your email address and phone number

Sikix.io

  • Next, go to “Balance” to deposit crypto or fiat into your account. For instance, if you want to deposit BTC, go to bitcoin on the list, click “Deposit” and copy the address provided. Transfer bitcoin to the address and click “Confirm.” Note that the minimum amount of BTC that you can deposit is 0.01.

Sikix Dashboard

  • Once the bitcoin hits your account, you should see the total balance and the USD equivalent displayed on the balance page.

On Sikix, the most common base currencies are USDT and the Nigerian naira (NGN). You can deposit both of them before you start trading. But that does not prevent you from depositing any of the other supported cryptocurrencies.

Depositing Local Currency to Your Account

To deposit naira, follow these instructions:

  • Go to “Balance”
  • Search for NGN on the list and click “Deposit”
  • Enter the amount you want to deposit. The platform will display the fees and the amount you will deposit.

Sikix Exchange

  • The platform will redirect you to a new page where you will enter your card details. Alternatively, you can use any of the other payment methods listed.

Sikix Trading

  • Once the transaction is complete, you should see your newly deposited funds on the balance page.

How to Trade Cryptocurrency on Sikix

Assuming that you deposited USDT in your account, here is how you can trade on Sikix:

  • Go to “Trade”
  • On the left-hand side of the screen, select a trading pair from the drop-down menu. For instance, you can choose the ETH/USDT trading pair. That means that you can buy ether with USDT. Note that the graph shows how the price of ETH is changing against USDT. You can view this change over different periods.

SIKIX DEX

  • On the right-hand side of the screen, select the green box. This box represents the bidding price, which is the maximum amount that you are willing to pay for ETH. The red box represents the asking price, the minimum price that a seller is willing to accept. You can choose to trade at these levels.
  • Alternatively, you can make your purchase through a limit or market order. The limit order allows you to buy ETH at a fixed price. Conversely, a market order enables you to buy ETH at the best market price.
  • Once you have entered the amounts, click “Buy ETH” to open your order. If you placed a market order, your purchase will take place immediately. However, you will have to wait to get a match if you placed a limit order.
  • When your order goes through, an ETH balance should reflect in your account.

Presently, the exchange supports BTC, USDT, ETH, BCH, XLM, XRP, NGN, and CMT with a plan to add more digital currencies in the future.

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A Complete Beginner’s Guide to TerraCredit (CREDIT)

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TerraCredit

Ever come across TerraCredit or TerraBit and wondered what they are? In this guide, we explore the TerraCredit ecosystem and provide an in-depth beginner’s guide to one of the fastest-growing crypto projects in Africa.

What is TerraCredit (CREDIT)?

CREDITTerraCredit (CREDIT) is a decentralised cryptocurrency at the heart of a digital payment ecosystem. The developers behind the cryptocurrency built CREDIT as a “viable replacement to cash and a rewarding option” – especially for users in developing markets.

CREDIT is the native currency of the TerraBit platform, a payment platform tailored towards the unbanked.

At the time of writing, the cryptocurrency is in the top 1,000 coins by market cap on CoinGecko. At the time of writing, CREDIT was trading at $0.00614 per coin.

Highlights About CREDIT

  • Name: TerraCredit
  • Ticker/Symbol: CREDIT
  • Max supply: 86,000,000
  • Blockchain: Native
  • Consensus mechanism: Proof of Stake (POS)
  • Established: 2017**

The cryptocurrency is built on a native Proof-of-Stake blockchain, requiring less from network validators, allowing more people to participate in the network. Currently, the Terracredit blockchain has over 12,000 individual network validators. The decentralised nature of validators makes it difficult to perform a 51 % attack on the blockchain.

What’s more, transaction fees on the Terra blockchain are very low. In contrast, most of the top cryptocurrencies have become very expensive to use due to fees. TerraCredit allows you to transact with fees as low as $0.00000003.

Moreover, CREDIT transactions are fast. They confirm in seconds Quicker transactions are made possible because of the low fees and the availability of several validators.

TerraCredit can be stored on native or third-party wallets. The native CREDIT wallet is available on desktops running Windows, Linux, and Mac OS. You can also download the mobile application for Android. Conversely, if you prefer third-party applications, there are many options like MyCointainer to choose from. 

What is TerraBit?

TerraBitTerraBit is a global payments platform that allows you to store cryptocurrencies and exchange them for fiat on a single app. It is also the native wallet of TerraCredit.

TerraBit supports CREDIT and bitcoin (BTC). It also supports fiat currencies like the naira (NGN), rand (ZAR), and peso (COP). You can deposit these currencies directly on the app to purchase cryptocurrencies.

Besides buying crypto, you can also sell crypto in the app and withdraw it to your bank account. This feature has made it very popular in developing markets like Nigeria, Colombia, and Kenya.

TerraBit also has a merchants interface that makes it possible for you to accept crypto payments. If you are a business owner, you can accept crypto payments in person via the app. It is extra easy doing the same online by just sending your crypto address.

Finally, the app comes with extra features, such as web staking.

Highlights of TerraBit

  • Trade cryptocurrencies on-the-go
  • Support for fiat currencies: NGN, ZAR, COP
  • Merchant interface to accept crypto payments
  • QR payments

Future features coming to TerraBit includes more fiat options for markets like Ghana. Virtual credit cards are also on the roadmap. These cards will make it possible for you to spend your crypto wherever bank cards are accepted.

TeraCredit Features

TerraCredit has several features that have seen an upgrade after the latest hard fork. As mentioned earlier, TerraCredit deploys the most modern blockchain technology. This makes it decentralised, fast, private, and easy to use. Here is a deeper look at the leading features of TerraCredit:

Proof of Stake: TerraCredit runs on a Proof of Stake (POS) consensus algorithm. Compared to other consensus algorithms like Proof of Work, POS is more lightweight and easier to participate in. Easy participation allows more individuals to play a role in confirming transactions. Without a broader pool of validators on a network, it becomes centralised.

The few validators get to control the affairs of the project. Also, bad actors can take advantage of this to attack the blockchain. You can participate in securing the TerraCredit network via staking or masternodes. Securing the network also rewards you through the creation of new coins. 

Decentralised Autonomous Organisation (DAO): The latest TerraCredit hard fork brought a new governance model. Masternodes operate the TerraCredit DAO. Aside from helping secure the network, masternodes contribute to the governance of the project. The DAO gets funds directly from the blockchain, which are allocated to approved proposals. Anyone can submit a proposal that masternodes vote on. Each masternode has one vote. Having a DAO with funds directly from the blockchain ensures the development and marketing of the project.

Swiftx: TerraCredit (CREDIT) enables swift transactions using the masternode infrastructure. Swiftx ensures “near-instantaneous” transactions. This feature aims to put TerraCredit in the same league as major payment processors like Visa and MasterCard. 

Coin mixing: Mixing makes transactions private. Instead of sending transactions directly from your wallet to another, coin mixing takes the coins through several transactions (mixing) before the final destination. This feature gives CREDIT privacy utility.

Ways to Earn CREDIT in 2020

TerraBit

There are two main ways to earn CREDIT in 2020. Both methods allow you to earn passive income since they require only a simple set up at the initial stages.

Web Staking

You can stake CREDIT via the native wallet. All you have to do is load your wallet with CREDIT and turn on staking to get started. It is simpler than mining and lowers the barrier of entry. You can stake 0.000000001 CREDIT and above. Rewards are paid daily into your wallet after you begin web staking.

Masternodes

Masternodes, on the other hand, come with more requirements. You need to hold at least 50,000 CREDIT as collateral for your masternode. After, you have to set up a node with the wallet. You can do this using a hosting service or do it yourself using basic hardware like Raspberry Pi.

Masternode owners receive rewards every block for securing the network and participating in the governance process. 

The Bottom Line

TerraCredit continues to grow beyond the TerraBit platform. CREDIT has been added to several exchanges, payment processors, and wallets recently, while its web staking functionality offers users a way to generate investment income on their CREDIT holdings. 

To learn more about TerraCredit, check out the project’s website.

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Chipper Cash: How to Seamlessly Send and Receive Money Across Africa

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Chipper Cash

Are you looking for a quick and easy way of sending and receiving money in Africa? In this guide, we will explore how Chipper Cash can enable you to transact comfortably right on your mobile phone.

What is Chipper Cash?

Chipper CashChipper Cash is a money transfer platform that enables seamless cross-border transactions. The payment service aims to democratise financial services for Africa’s unbanked by allowing them to transact through their smartphones.

According to Chipper Cash, the app is the first of its kind to provide instant cross-border mobile money transfers on the continent.

The app allows you to connect one or more mobile wallets, and transfer money to a number of locations. Moreover, all in-country transfers are free, which makes it an inexpensive option for P2P payments. The app is available for Android and iOS devices.

How Does Chipper Cash Work?

To access Chipper Cash, you have to download the app onto your smartphone. You can download the app on the Google Playstore for Android users or from the Apple store if you are on iOS. You will have to register an account before you start transacting on the platform. The platform allows you to register using your email address or phone number.

The verification process is fairly easy. You input personal details including your bio, address, and select the default currency for your account. Interestingly, the app can sync with your device and automatically select your current location as your address, saving you precious seconds inputting the same manually. Finally, registration is complete once you set a four-digit PIN and log into the platform.

Chipper Cash has a simple UI that consists of three main windows; the activity section, the referral section, and the user profile page.

To send money you have to ensure the recipient is a verified user on Chipper. If possible, request their Chipper Cash tag to confirm before sending money. Alternatively, you can scan the QR code of the recipient, if nearby, and send him or her the funds instantly.

How to Send and Receive Money

Chipper Cash AppYou can load money from your mobile money account onto your Chipper wallet using the ‘Add Cash‘ functionality at the top of the page. When transferring money from your phone you will receive a request for approval on your phone. Once you approve the prompt the money will be credited in your Chipper wallet. The reverse will happen when you need to transfer money from your Chipper wallet to your mobile money account. To do this, simply tap, the ‘Cash out‘ option in your profile, and a similar process will be initiated.

You can request money from anyone on Chipper by utilising the ‘Request’ tab on the bottom of the landing page. This is no doubt a good feature when following up on payments or seeking refunds for erroneous transactions. The platform does not charge any fees, even for cross-border transfers. Moreover, Chipper Cash has no minimum balance for sending money and is thus suitable for micro-payments.

According to the platform, there are plans to roll out a Chipper Cash ‘escrow’ service. Currently, to cancel out a transaction sent to the wrong address you have to request the recipient to reverse the same. However, the recipient has to approve such a request. To avoid such a scenario you are advised to check that you have the correct address before you send money.

While there are no limits to how much you can send per transaction, there are limits to how much you can ‘Cash In’ and ‘Cash Out’ on the platform. Furthermore, you can send money to a recipient who is not on the platform. They will receive a text message notifying them of the payment. However, they will still have to download the app to access their funds.

Other Chipper Cash features include:

  • You can link multiple mobile money accounts
  • Generous referral program

Pros and Cons of Using Chipper Cash

Pros

  • Simple UI
  • Free cross-border transactions
  • No minimum balance
  • Discounted airtime purchase
  • Interoperable – you can connect multiple mobile money accounts
  • Dedicated customer support team

Cons

  • Lengthy verification process
  • Lack of an ‘escrow’ functionality

The Chipper Cash app is currently available in seven African countries including Ghana, Uganda, Kenya, Tanzania, Rwanda, Nigeria, and South Africa. Moreover, the platform is backed by several prominent VC’s and organisations with future plans to expand into new markets.

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