Bitcove Blog

News and updates from the Ireland's leading cryptocurrency exchange



Self-custody refers to the practice of holding and controlling one's own private keys, as opposed to entrusting them to a third-party service such as an exchange or online wallet provider. This allows individuals to have full control over their digital assets and eliminates the risk of third-party theft or fraud and allows them to access all the benefits and features of the particular blockchain or cryptocurrency.

Read more



Cross-chain bridges are a technology that allow different blockchains to communicate with one another to perform actions such as transferring of funds, function calls, asset swapping and more. In normal circumstances blockchain users are only able to interact with wallet addresses and smart contracts that run on the same network as they are using (e.g. Bitcoin to Bitcoin, Ethereum to Ethereum etc...)

Read more



The Ethereum blockchain recently transitioned from a Proof of Work consensus algorithm to a Proof of Stake mechanism . The reason for The Merge was to address concerns related to the energy-intensive process of mining and saw the network switch to where it is secured by staked ETH, negating the need for miners. Developers also hope that the move will provide more security, sustainability, and scalability to Ethereum’s network...

Read more



Mina Protocol is a blockchain that seeks to solve the issues of scalability, decentralization and security within blockchains using a zk-SNARK system (Zero-Knowledge Proofs)...

Read more



This guide will walk you through the steps of setting up your Trezor One Hardware Wallet on your PC...

Read more



Created by the Czech based company SatoshiLabs in 2014, the Trezor Model One was the first cryptocurrency hardware wallet to be manufactured. The Model One is a secure, economical choice for individuals looking to store their cryptocurrency safely. The easy-to-use device negates the need for a third party service to store one's coins and allows users to take full control of their funds...

Read more



Created in 2008, Bitcoin (BTC) is the world’s first cryptocurrency. A digitally encrypted currency that runs on a blockchain. A blockchain is an immutable (unchangeable) distributed ledger that stores data. In the case of Bitcoin the blockchain stores transaction information in a public, verifiable manner. Each Bitcoin transaction is tracked and logged on the blockchain...

Read more



Like many regions in the Central Americas, El Salvador has had a difficult political and economic past. War, poverty and persistent levels of poor economic growth have made life difficult for many Salvadorans. Of late, the country has been the focus of many news outlets but not for reasons that may be expected. On the 7th of September, 2021 the nation passed “The Bitcoin Law” making the monumental move of officially recognizing Bitcoin (BTC) as legal tender.

Read more

Feb 18th




The hype around the Metaverse has been tangible of late. Facebook’s recent rebrand to Meta along with their intention to dominate future digital universes has brought the concept to the masses. Many different projects exist, each with their own twist on the idea.

Read more



In recent times the term “Metaverse” has become part of common vernacular. This is largely due to Facebook’s recent rebrand to Meta as the company attempts to gain recognition as a technology company rather than just a social media firm...

Read more


Minting NFTs on Opensea

OpenSea is a decentralized, P2P (peer-to-peer) marketplace on the Ethereum blockchain. Users can browse, create, buy and sell Non Fungible Tokens (NFTs). An NFT is a unique digital asset that contains an authenticable proof of ownership on the blockchain...

Read more


Token Burning Mechanics

Cryptocurrency tokenomics refers to how a particular coin or token is created, distributed and managed throughout its lifecycle. Some tokens are created all at once (pre-mined), others have a limited initial supply that grows over time...

Read more

August 28th



Filecoin & Storj

Cloud storage has become a common service accessed by users the world over whereby data storage is outsourced to specialised providers. Companies such as Google Drive, Amazon, Dropbox and OneDrive store data in logical pools, said to be on "the cloud". The physical storage spans multiple servers, and the physical location of said servers is typically owned by the hosting company...

Read more


Bitcoin Taproot Upgrade

Taproot is an upcoming, soft fork upgrade coming to the Bitcoin blockchain network. A soft fork is a change to the software protocol where only previously valid transaction blocks are made invalid...

Read more



The Ethereum London Hard Fork is an upcoming update on the Ethereum network which aims to change the blockchains transaction fee model and difficulty time bomb. The network will set transaction fees with a base fee for each block rather than bidding on gas prices...

Read more


Solana Serum

Solana is a web-scale blockchain that provides fast, secure, scalable dApps (decentralized apps) and marketplaces. It’s native token, $SOL, is used for transactions on the network. Currently, the system can carry out 50,000 (transactions per second) and 400ms Block Times (time taken to create a new block in a blockchain). Solana’s long term goal is to address speed, scalability and transaction fee issues...

Read more


Blue Clip DeFi

In this blog we will take a look into some of the exciting “Blue Chip Defi” tokens that are now available on Bitcove. Defi (decentralized finance) is a concept wherein financial products are made available to the consumer without the previously necessary middleman of a bank or brokerage associated with centralized finance...

Read more


Crypto Scams

Anywhere there is profit to be made, scams and scammers are never too far from the action. Unfortunately, the world of cryptocurrency is no different. Victims are chosen indiscriminately and can easily, unwittingly suffer losses as a result. Luckily, there are many precautions that can be taken to avoid such hardship...

Read more



Uniswap is a protocol for automated token exchange on the Ethereum network. The Uniswap exchange is an open source, decentralized platform that allows users to swap ERC20 tokens in a trustless environment (meaning users don’t rely on anybody to govern swaps). Uniswap also allows users to earn money by providing liquidity to token reserve pools.

Read more



Metamask is a free browser extension used for storing Ethereum and other ERC-20 Tokens. The extension allows web applications to read and interact with Ethereum’s blockchain in a secure manner...

Read more

May 6



What is defi?

Decentralized finance is a concept wherein financial products are made available to the consumer without the previously necessary middleman of a bank or brokerage associated with centralized finance...

Read more


Proof of work vs Proof of Stake


Proof of stake

Proof of Stake is a form of consensus mechanism where network users pool funds together (stake) as a form of collateral to ensure participating members contribute to the security and operations of the blockchain...

Read more


Bitcoin Miner

A blockchain is a decentralised, trusted database shared across a network of computers. Any information added to this network is extremely difficult to change. To date, blockchain technology has mainly been used as a transaction ledger for cryptocurrencies. However, there are a multitude of new, emerging uses for the technology.

Read more



An NFT is a unique digital asset bought using cryptocurrency that exists (mostly) on the Ethereum (ETH) blockchain. The NFT craze is currently booming - in February 2021 alone over $86 million was spent in said market. NFT stands for “Non-Fungible Token”. This is a special type of cryptographic token which represents ownership of something unique and scarce. NFT stands for “Non-Fungible Token”. This is a special type of cryptographic token which represents ownership of something unique and scarce.

Read more


Bitcoin ATM

A Bitcoin ATM (BTM) is a type of kiosk which allows users to buy bitcoin and other cryptocurrencies locally for cash. The majority of Bitcoin ATM’s only allow you to buy bitcoin, but there are some which facilitate both buying and selling. Bitcoin ATM’s are nifty machines which can allow a secure, straightforward and fast method for buying bitcoin.

Read more



Stablecoins are a class of cryptocurrency which offers price stability and are typically backed by a reserve asset. The use of stablecoins can be seen to offer the best of both worlds; the speed, privacy and cost effectiveness of crypto assets while enjoying the price stability of traditional currencies such as the Euro or US Dollar.

Read more