Please be advised that SolidTrust Pay’s offices will be closed on Monday, May 22nd for Victoria Day.
As this is a Canadian banking holiday, customers are reminded to add extra processing time for deposits, withdrawals, and e-currency exchanges; along with document review and support ticket replies.
Many of you may be wondering what Victoria Day even is, since it has always been a distinctly Canadian observance, while many of our members are from all around the world. Since at least 1845, Canada has celebrated Queen Victoria’s birthday as a public holiday, which falls on May 24 (1819). At some point, the date of observance was switched to the last Monday preceding May 25.
It is sometimes informally considered the beginning of the summer season in Canada!
We wish everyone a safe and happy weekend!
Knowledge Base Guide:
Two-factor Authentication via the Authy Desktop Application
What is two-factor authentication?
2FA is defined by Authy as having “‘something you know’ paired with ‘something you have’”. For example, you likely have a bank card, and in order to use your bank card, you must have a correct PIN when completing transactions. The bank card is something you have and the PIN is something you know. Together, the card and PIN makes for a great two-factor authentication system, which in return protects your money. Authy is used in the same way when you want to use an exchanger or do a Bitcoin withdrawal. Your electronic device is the object you have and the 2FA password is something you know.
Why should I use Authy?
Authy is an alternative way to setup the two-factor authentication. It is commonly a choice for users who cannot or do not want to install a 2FA application on a mobile device.
What is required in order to use Authy?
• A mobile phone/device that is capable of receiving text messages
• A personal computer or tablet
• Google Chrome as the default browser
• A SolidTrust Pay account
How do I install Authy?
1. You can start the Authy download by going to https://authy.com/download/
*Reminder: it is important that you are using Google Chrome to setup Authy; no other browsers will work.
2. The option for desktop will be the second white box, as shown below:
3. Select ‘Get it on Google Play’
4. Once the button has been selected, a page will pop-up. It looks like this:
5. Select ‘Add to Chrome’, located in the upper right-hand corner:
6. Select ‘Add app’ when prompted:
7. The page should change and will show that Authy has now been added to your Apps in Google Chrome:
8. Follow the on-screen prompts when you click on the application. Authy support can be found at https://support.authy.com/hc/en-us if you are having issues with the application itself.
How to enable the 2FA on your SolidTrust Pay account
1. After Authy has been installed, login to your SolidTrust Pay account and go to ‘Security Zone > Two-Factor Auth Settings’:
2. Once on the next page, please read all of the information. You can ignore what is inside of the red box (see below) since this information is for 2FA on a smartphone. Once you have reviewed the entire page, select ‘Start Two-Factor Authentication Setup’:
3. Select ‘Send SMS Confirmation Code’. If you are not receiving the text message, please contact Customer Support at https://support.solidtrustpay.com/
4. Enter the number provided in the text message you received. After, you will then select ‘Enable Two-Factor Auth’:
5. The next page will have the manual setup code (see Figure 1). You will then copy the manual setup code into Authy (see Figure 2).
Figure 1 – Locating the manual setup code.
Figure 2 – A view of a manual setup code in Authy. Select ‘Add Account’ after entering the manual setup code.
6. After the account has been added, chose a logo and provide a name for the account in Authy (see Figure 3). After, select ‘Done’ to close the box. Another box will pop up (see Figure 4) with the account they have added. Have the user select the account and the 2FA password will appear (see Figure 5).
Figure 3 – Selecting a logo and naming the account
Figure 4 – Close the box once your account has been added
(Figure 5, below)
Figure 5 – A new box appears after closing the previous box. Select the account and the 2FA password will appear. Copy and paste this where the 2FA password is required.
*Reminder: the 2FA password changes every 30 seconds. Insert the 2FA password in time after you have copied it or it will not work!
Another day, May 11, 2017, and Bitcoin has climbed another $100. Since late December of 2016, Bitcoin has been increasing in value rapidly. The value increase correlates with higher frequency of trading and increased public adoption. Bitcoin is setting records daily, and seems to be on track for widespread use as more online merchants and real-world locations begin to accept the digital currency.
It’s incredible to think that Bitcoin was worth less than $500 in May of 2016, and has climbed to over $1800 at the time of this publication. With three major ups and downs during that time, Bitcoin has shown strong resilience in rebounding, and appears to be on its strongest run yet. Lets talk about those three previous runs.
As CNBC reported around June 2016, there are three main reasons for the activity in
Bitcoin around that time:
- Problems with Bitfinex, and their eventual shutting down (price drop in early August)
- Uncertainty surrounding Brexit at that time
- The Yuan Effect, and Chinese markets
While Bitfinex, a major Bitcoin exchange in 2016, suffered with server issues and eventually being hacked for over $72M worth of Bitcoin, traders and believers in the digital currency had to contend with the influence of the Chinese Yuan as well as the uncertainty around whether or not a Brexit would happen. These are the three most influential factors in the action we see around June 2016 regarding the value of Bitcoin.
The next hiccup faced by Bitcoin enthusiasts came in January 2017, after briefly rising to near all-time-high prices during its most impressive run since 2013. On January 5th, the average price of a Bitcoin across most trading platforms sharply fell around $200. This specific price drop was speculated to be linked to rumors of increased regulation on the digital currency by the Central Bank of China, and the free fall continued for a full week.
The final hurdle in our incredible story of Bitcoin over the past year is still fresh in the memory of many Bitcoin traders and enthusiasts. After hitting record highs, and even surpassing the price of gold for the first time ever, an unfavorable decision by the SEC regarding the eligibility of a Winklevoss Bitcoin Trust to be traded on the stock exchange put the entire future of Bitcoin at risk. But this is not what caused the rapid loss in value of nearly $300 in just 3 days. The cause of this most recent hurdle comes from within the Bitcoin community itself (along with more rumors of Chinese regulations), as Bitcoin miners and thought-leaders debate over complicated software and tech issues.
At the time of this writing, we have yet to experience the next big roadblock in the blockchain-based digital currency’s journey to widespread adoption, as Bitcoin continues to soar at truly astonishing rates.
If you aren’t comfortable investing your own money, there are plenty of ways you can earn some around the web. Check out our comprehensive guide for earning free Bitcoin online to get started!
Yesterday, May 4th, Coindesk reported that Bitcoin had broken the $1500 mark for the first time, only to follow that report up near the end of the day with a new report, that Bitcoin had taken a sudden $100 nosedive.
Fast forward to today, May 5th, and we’re all the way back up in the high $1500’s at the time of writing this article. It’s becoming increasingly clear that Bitcoin isn’t going to drop off the map again the way it did after it’s first big rally at the end of 2013.
Not only is the value of Bitcoin rising to comfortably surpass the value of gold, but the frequency with which it is being trading is also seeing a significant increase. NewsBTC said yesterday that trading platforms are reporting surges, and more exposure in media is leading to more adoption in the mainstream, which is expected to continue to drive demand for the cryptocurrency up, as well as its value.
While trading can be a way to be earn small gains at a time, many die-hard believers in the blockchain technology are happy to collect and save the coins for what they’re sure is going to be a very dramatic value increase with widespread adoption.
Whether you want to invest some capital into earning cash now or later, we’ve got you covered at SolidTrust Pay. You can buy Bitcoin easily with us, and store it in your Bitcoin wallet or exchange it to your preferred currency and withdraw it to your bank.
If you don’t want to invest your hard-earned money, we totally understand! There are plenty of interesting ways that you can earn free bitcoins online, including faucets, mini-games, and good old-fashioned mining! We’ve put together a comprehensive guide to earning free bitcoin online to get you started!