Asset Articles

Curated knowledge base for crypto: Find well-written research articles, token overviews, price predictions, market trends, technology reviews and updates. Read and share your thoughts, too!

10 Most Underestimated Geniuses of the Crypto World

Bitcoin

Jul 02, 2024

10 Best Wallets to Hold USDT in 2024

Tether

Jul 01, 2024

Holding USDT, a popular stablecoin, requires choosing the right wallet. There are myriads of crypto wallets to choose from, and most of them claim to fully support Tether's USDT, the most popular stablecoin in the world. How to choose the wallet that is right for you in 2024? Here we will try to explore the best wallets for holding USDT. We will cover security features, differences between custodial and non-custodial wallets, exchange versus personal wallets, and finally we will come up with the cherry on a top - our own rating of the top wallets available for USDT. What is USDT? USDT, or Tether, is a stablecoin pegged to the US dollar, providing stability in the volatile cryptocurrency market. Selecting the right wallet to hold USDT is crucial for ensuring security, accessibility, and convenience. This essay will guide you through the essential aspects of choosing a USDT wallet and provide a rating of the top wallets in 2024. Security Features Importance of Security Security is paramount when choosing a wallet for USDT. With increasing cyber threats, it’s essential to understand the security measures each wallet offers. You wouldn't want to lose any of your savings, would you? Securing your crypto doesn't require any special hacker-like knowledge. You don't need coding skills or digital security expertise. All you need is paying attention to some ground rules while choosing the crypto wallet. Some of this basic knowledge is basically the same as with many other IT-services. Common Security Features Two-Factor Authentication (2FA): Adds an extra layer of security by requiring a second form of verification. Encryption: Ensures data is protected by converting it into a code that can only be read with a key. Cold Storage: Offline storage that protects funds from online hacks. Multi-Signature (Multi-Sig): Requires multiple keys to authorize a transaction, reducing the risk of unauthorized access. Biometric Authentication: Uses fingerprints or facial recognition for secure access. Custodial vs. Non-Custodial Wallets Here is the moment of truth. Let's try to solve one of the most epical questions since the beginning of crypto. Which wallets are better - custodial or non-custodial. Custodial Wallets Custodial wallets are managed by third-party services. The provider holds the private keys, offering convenience but requiring trust in the service. Advantages: Ease of Use: User-friendly interfaces and features. Customer Support: Assistance available for issues. Backup and Recovery: Simplified processes for recovering lost access. Disadvantages: Control: Users do not have full control over their private keys. Security Risks: Centralized control can be a target for hackers. Non-Custodial Wallets Non-custodial wallets provide users with full control over their private keys, enhancing security and autonomy. Advantages: Full Control: Users manage their private keys, ensuring complete control over their funds. Enhanced Security: Reduced risk of centralized attacks. Privacy: Greater privacy as there is no third-party involvement. Disadvantages: Responsibility: Users are responsible for their own security and backup. Complexity: May require a higher level of technical knowledge. In fact, if you are a novice investor with some relatively small amounts of crypto holdings and USDT savings, it might be a good idea to start with a simple custodial wallet. Just to get familiar with the world of crypto. Yet, as soon as we are talking about some substantial amounts of USDT - think of the sum you wouldn't want to lose at the risk of death - you should better be thinking of a non-custodial wallet. Exchange Wallets vs. Personal Wallets A bit of the same discourse here. Use personal wallet or stick to the wallets provided by crypto exchanges? That question goes back a while. Exchange Wallets Exchange wallets are provided by cryptocurrency exchanges, offering integrated trading and storage solutions. Advantages: Convenience: Easy access to trading and storage in one platform. Liquidity: Quick transfer of funds for trading. Features: Additional features like staking, lending, and borrowing. Disadvantages: Security Risks: Centralized exchanges can be prime targets for hackers. Control: Users do not have full control over their funds. Personal Wallets Personal wallets are standalone applications or hardware devices that provide secure storage for cryptocurrencies. Advantages: Security: Enhanced security features like cold storage and multi-sig. Control: Full control over private keys. Flexibility: Supports a wide range of cryptocurrencies and features. Disadvantages: Complexity: May require more effort to set up and manage. Limited Features: May lack some of the advanced features offered by exchanges. Top Wallets for USDT in 2024 Here comes the essence of this article. We picked the absolutely best wallets of different types for you. No matter what your needs are, you can pick a wallet for yourself from our top list, and be sure it will fit your needs perfectly. Ledger Nano X Ledger Nano X is a leading hardware wallet known for its robust security features. Pros: Cold Storage: Keeps private keys offline. Multi-Currency Support: Supports over 1,500 cryptocurrencies. Bluetooth Connectivity: Allows easy connection to mobile devices. Cons: Price: More expensive than software wallets. Complexity: Requires setup and management. Trezor Model T Trezor Model T is another top-tier hardware wallet offering advanced security. Pros: Cold Storage: Secure offline storage. Touchscreen Interface: User-friendly navigation. Open-Source: Transparent and regularly audited. Cons: Price: High cost. Learning Curve: Requires understanding of hardware wallet operations. Exodus Exodus is a popular software wallet with a user-friendly interface. Pros: Ease of Use: Intuitive design suitable for beginners. Multi-Currency Support: Supports multiple cryptocurrencies. Integrated Exchange: Built-in exchange feature. Cons: Security: Less secure than hardware wallets. Custodial Elements: Some features require trust in Exodus. Trust Wallet Trust Wallet is a mobile wallet known for its versatility and security. Pros: Multi-Currency Support: Supports a wide range of cryptocurrencies. Staking: Allows users to earn rewards by staking their assets. Decentralized: Non-custodial wallet providing full control. Cons: Mobile Only: Limited to mobile devices. Security: Less secure than hardware wallets. MyEtherWallet (MEW) MyEtherWallet is a web-based wallet primarily for Ethereum and ERC-20 tokens, including USDT. Pros: Non-Custodial: Full control over private keys. Compatibility: Integrates with hardware wallets for added security. Open-Source: Transparent and community-driven. Cons: Complexity: May be challenging for beginners. Web-Based Risks: Susceptible to phishing attacks. Coinbase Wallet Coinbase Wallet is a mobile wallet with strong integration with the Coinbase exchange. Pros: User-Friendly: Easy setup and navigation. Multi-Currency Support: Supports a wide range of cryptocurrencies. Integration: Seamless connection with Coinbase exchange. Cons: Custodial Risks: Requires trust in Coinbase for some features. Limited Control: Not fully non-custodial. MetaMask MetaMask is a browser extension and mobile wallet primarily for Ethereum and ERC-20 tokens. Pros: Ease of Use: Simple interface suitable for all users. Integration: Compatible with numerous decentralized applications (dApps). Non-Custodial: Full control over private keys. Cons: Security: Browser-based risks. Limited to Ethereum: Primarily supports Ethereum and ERC-20 tokens. Atomic Wallet Atomic Wallet is a decentralized wallet offering extensive features. Pros: Multi-Currency Support: Supports over 500 cryptocurrencies. Atomic Swaps: Enables peer-to-peer exchanges without intermediaries. Non-Custodial: Full control over private keys. Cons: Security: Software wallet security risks. Complexity: Requires some technical knowledge. Binance Wallet Binance Wallet is the wallet service provided by the Binance exchange. Pros: Integration: Seamless connection with Binance exchange. Multi-Currency Support: Supports a wide range of cryptocurrencies. Features: Advanced trading and staking features. Cons: Custodial Risks: Requires trust in Binance. Control: Limited control over private keys. BitPay Wallet BitPay Wallet is a versatile wallet with strong merchant integration. Pros: Merchant Integration: Supports payments to numerous merchants. Multi-Currency Support: Supports multiple cryptocurrencies. Security: Offers non-custodial security features. Cons: Complexity: May be challenging for beginners. Limited Features: Focused more on payments than advanced features. Conclusion Choosing the best wallet for holding USDT involves balancing security, control, and convenience. Hardware wallets like Ledger Nano X and Trezor Model T offer top-notch security but come at a higher cost and complexity. That is definitely not the best choice for a rookie. But it is probably the best choices for a true crypto whale. Or at least, for a whale-wannabe. Software wallets like Exodus and Trust Wallet provide user-friendly interfaces and multi-currency support but are less secure. They are perfect if you operate small amounts of crypto primarily from your smartphone. Exchange wallets offer convenience and integrated features but require trust in the provider. You can easily swap your USDT for any tokens you like or simply sell them for fiat money. That's convenient, but not for holding large amounts of your savings. Ultimately, the best wallet for you depends on your specific needs and preferences. You and only you can decide what matters the most to you. You might prioritize security over the ease of use, or vice verse.

Bitcoin vs Gold: How to Secure Your Holdings If WW3 Breaks Out

Bitcoin

Jun 27, 2024

What would happen to cryptocurrencies if WW3 broke out? How could crypto exist during the nuclear war? Maybe it is better to invest in gold until it is too late? Bitcoin and other cryptocurrencies are often seen as the best long term investment. Crypto enthusiasts have no doubt about that. No matter what happens to the world economy, the US dollar or gold and silver, the cryptocurrency will be valuable because of all those digital technologies rising. Because of the Metaverse emerging as the new era of the global economy. That’s what crypto fans often say. And since the beginning of the Russian invasion to Ukraine crypto seems to be nothing but the savior of the economy. Crypto is used to finance the Ukrainian army. Crypto helps Russians to avoid Western sanctions. NFTs auctions gain enormous amounts of money for charity. Crypto is evidently rising as a way to transfer assets without borders and limitations. But what could happen to Bitcoin and other crypto if the most terrible nightmare of our time comes true? What if the Russian-Ukrainian conflict only precedes the infamous World War III? What if things go terribly wrong and NATO will be engaged in a full scale conflict with Russia including mutual nuclear attacks and mass destruction of entire cities and possibly countries? What assets would we rely on then? Previous global wars have shown that paper money emitted by the sides of the conflict become obsolete and depreciates rather quickly. Hm, is it the time for Bitcoin and other cryptocurrencies to shine? Or will we get back to gold and silver as the most reliable assets? Is WW3 actually possible? Mad Vladimir Putin is holding his finger over the red button. That’s the only thing that makes him so terrifying. Otherwise his days would be over. The West is not ready to fully confront the bloody tyrant. It is easier and safer to fight with Putin somewhere in the steppes of the Ukrainian East. Just give those Ukrainians more and more weapons and hopefully they will withstand the invasion, the war will be over and that’s the end of the story. That’s what they think. It seems though that Putin has already crossed the line. Russia is in exile, cornered and hopeless. Things are never going to be the same again. Putin is to be overthrown by some forces inside the country. Or his bloody reign is going to be accompanied by all kinds of military conflicts till his last days. That’s all because Putin has built Russia around the ‘us vs them’ idea. No war, no Russia any more. It is that simple. So World War III is definitely on the table. Probably a nuclear war with massive devastation of both military and civilian infrastructure. What would be the fate of Bitcoin and other cryptocurrencies then? What would happen to Bitcoin in WW3? The question is rather complicated as it might be divided into a few separate questions. So it would be fair to answer them separately. How would Bitcoin and other crypto be treated during war depends on the overall economy situation. But technical issues might be a serious problem. Crypto requires electricity and mining to function properly. Both are rather questionable during hypothetical WW3 when nuclear weapons are presumably used left and right. So the big questions are: could crypto be still accessible during WW3 and if it was would it be able to compete with gold as the way to preserve your wealth? Let’s try to answer both questions. Would there be a need for crypto in WW3? We have already seen what happens to fiat money during war. Banks with all their ATMs and officts might stop functioning leaving you cashless and making your gold and platinum card useless. Governments can easily prevent banks from giving out cash, selling different currencies or accepting payments of different kinds. Government might simply block all the banks. If the territory is captured by another belligerent, your old money might become obsolete as well. It is a common practice for military regimes to implement temporary money or payment methods during war. Like, for example, grocery or fuel cards. Yes, there were cases when the population in the military zones had to ditch money at all being able to buy food and other commodities only with some kind of money surrogates. And even if we take a much less pessimistic scenario we could see great uncertainty rising and high inflation risks. Just look at what happened in Ukraine in the first few weeks of the Russian invasion. The prices for all kinds of commodities went skyrocketing, with fuel and even bread becoming a sort of luxury. Bitcoin is here to save Well, crypto seems to be a kind of savior in such a situation. If you are able to make peer-to-peer payments with no third party required, no state or military organization could prevent the crypto economy from existing. Bitcoin was born for this, to say the least. A decentralized payment method, secure and stable, could theoretically withstand any political regime. So it is fairly easy to conclude that Bitcoin and other cryptocurrencies could have their finest hour amidst the hypothetical WW3. The price of Bitcoin might rapidly increase as it appears to be the best way to transfer assets. Crypto might soon become the main financial instrument used by ordinary people. With no banks required and fiat money becoming useless the role of the government in the financial sector might degrade. That’s a great scenario for Bitcoin holders, right? And also Bitcoin seems a much more flexible and valuable asset than gold. Because you can’t use gold for everyday payments. Gold is a little hard to carry around. There is no way you can pay for a piece of bread or a gallon of fuel with a gold bar. What would you do, slice it a bit in a grocery store? With BTC you can easily ‘slice’ it even to a few satoshis and thus pay for something small and rather cheap. But what about long term savings? Let’s say you are trying to preserve your assets in light of the coming WW3. What should you invest in - Bitcoin or gold? Well, gold seems fairly good as a long-term asset. All you have to do is keep your gold somewhere safe. As soon as the war is over your precious metal will be there to help you get through hard times. Bitcoin and crypto is also a great asset to keep for a long time. It is even easier and somehow safer to keep in the times of uncertainty. Because all you need is a smartphone or a small hardware wallet (it is about the size of a flash drive). In some cases you don’t even have to own a smartphone, all you need is just a key phrase from your non-custodial wallet. Or a username and a password for your account on the crypto exchange. If you need to flee or cross the borders with your family and children carrying gold is not the best decision. You might be required to declare it, the customs might not let you bring it to the country, it might be taken from you or simply stolen. A smartphone or a small flash drive in your pocket gives you better chances to get away with all your crypto to a safe place. If your wealth is stored in the cloud, chances are you might successfully access it from any place in the world. Millions of those who escaped from war know how important that could be. What could happen to Bitcoin technology during WW3? Up to this point, everything has indicated that in 21 century Bitcoin is a more preferable way to store your wealth than gold. But here comes the most interesting part. All the advantages of Bitcoin disappear when it is time to discuss the potential technology issues during a full scale war. And we have to assume that WW3 might be terribly destructive. Massive missile hits from both sides, widespread use of means of jamming radio signals, cyberwar, hacking and presumably nuclear strikes. That’s a very probable scenario. And while it looks dreadful from any point of view, within the framework of this article, it is necessary to emphasize that crypto will be extremely vulnerable. Simply put, Bitcoin might be absolutely useless during WW3 simply because there would be no electricity to mine crypto and no internet to carry out transactions. Of course, huge data centers of the biggest cloud platforms like Amazon or Microsoft might survive even quite harsh times. But it is difficult to imagine how you would use Bitcoin for transactions while there is no network available and no mining is being done. And we must not neglect the worst scenario in which massive nuclear strikes destroy most parts of civilization and all the crucial infrastructure. Nuclear explosions are accompanied by electromagnetic waves of immense power. Those are able to interfere with electronic equipment just as solar flares often do. Terrible consequences of such events include power shortages, malfunctions of the miscellaneous equipment etc. If a nuclear explosion happens not far from a data center all its equipment might fail irrevocably. The data will be lost. Of course, multiple crypto network’s nodes might survive WW3. So the data on the blockchain will be restored once the war is over. But what would be the price of Bitcoin afterwards assuming it proved to be of no use in the times when people needed it the most? All of that tells us that cryptocurrency might not survive WW3 or become almost useless afterwards up until the internet and its infrastructure aren't recovered. Bitcoin vs Gold in WW3 To sum up, both Bitcoin and gold have their pros and cons in the hypothetical World War III. Bitcoin pros Bitcoin as well as other cryptos might fight inflation Bitcoin will allow for peer-to-peer payments in times of uncertainty Crypto can be stored in the cloud so that you don’t need to carry anything with you while crossing international borders etc. Crypto makes instant payments abroad very easy and invisible to governments, banks and other third-party structures Bitcoin cons All cryptos heavily rely on technologies (data centers, internet etc) that might be partially or fully unavailable during war In the worst-case scenario of the large-scale war the crypto infrastructure can be destroyed to such an extent that it will be impossible to restore it. All the crypto wealth will be lost forever. Gold pros Gold is gold, it has been the most valuable asset since ancient times, it will be such an asset forever. Even with the most terrible development of events, the fragments of civilization after the war will value gold. Everybody knows what gold is, it has traditional value, it known internationally No technology is needed to store gold or transfer it besides human hands, pockets or bags. Gold cons Gold is not suitable for small transactions and payments Gold is hard to carry and you need a safe place to store it Gold can be easily stolen or taken from you So if you are seriously thinking about preserving your wealth in the light of hypothetical WW3 take all the above into consideration. If you do not believe full scale nuclear war is possible - or if you just refuse to believe in the worst-case scenario - you might better stick to crypto. Bitcoin is easy to handle and reliable. It might become the mainstream payment means of the future. It’s a good investment in the light of an upcoming hypothetical war. If you tend to think that worse comes to worse and what we have now in Ukraine is something like Germany occupying Czech Republic in 1938 (the WW2 followed just after that) then you should consider investing in gold. Gold is a more troublesome tool. But chances are it will survive the nuclear holocaust better that cryptocurrencies. Gold requires nothing but simply a place for storage, while Bitcoin and other crypto is built on top of a complex digital industry that is very vulnerable to severe shocks that WW3 would inevitably bring.

5 Top Ways to Secure Your Crypto Wallet Against Hackers

Bitcoin

Jun 26, 2024

Most of the newbies in crypto urge to buy some tokens and don’t care much about where to keep them. That might be a crucial mistake. Neglecting security can cost you dearly. Be it a credit card with fiat money or your personal home safe with cash, you are probably accustomed to comply with all security measures. Crypto wallets, though, are generally considered to be secure ‘by default’. Just because it is a blockchain, right? The safest technology in the world, isn’t it? So many users never actually think about how secure their crypto wallet is. And sometimes it turns into a financial tragedy, the degree of which depends only on the amount of the lost crypto. No matter if it is 0,00005 BTC or 5 BTC, losing money is always painful. Don’t keep all your cryptocurrency in one place Let’s start with a quite obvious and basic rule that for some reason most users usually ignore. No matter how large the amount of cryptocurrency you own, don’t keep it all in one place. In other words, you need multiple crypto wallets to keep your tokens safe. This is also quite reasonable from the point of view of usability, but we will get back to it in a minute. Security concerns are the reason important enough to conclude that you need more than one wallet. Even if one of the wallets is compromised, only a part of your crypto assets will be stolen. Store you main assets in a non-custodial wallet We’ve covered the differences between custodial and non-custodial wallets. In short, when using a custodial crypto wallet you don’t get your private key (you are never given your key phrase), instead it is being held by the owner of the service you use (a crypto exchange, most often). Basically it means you don’t have the crypto, it is owned by the exchange, you get access to it only through your account. If the account is blocked, you lose the crypto. A non-custodial wallet allows you to store your private key. You and only you can have access to the assets. It’s a bit dangerous because if you lose the key phrase you might never recover your crypto. But it also means that nobody, even the company that developed that software or hardware wallet can’t access your assets. The safest option of course would be the hardware wallet (the cold wallet), but it is not always convenient for many users. So you might go with a crypto wallet in an app for iOS or Android. Just make sure it is a non-custodial wallet. Never store your private key online Even if you were careful enough to choose non-custodial wallets which are quite secure, there is one potential problem. We’ve mentioned it above briefly. Now let’s talk about it in detail. So when you are registering a new non-custodial wallet you are provided with the private key. At the dawn of the crypto era their most common form used to be a long string of random numbers and characters. Which was not particularly user-friendly, as you can imagine. Even writing this key down on a piece of paper was problematic, not to mention remembering it. This is why a better way to display them was gradually adopted. The key can be presented in the form of a secret phrase. So most of today’s crypto wallets do not show you the cryptic private key by default anymore. Instead, the private key is translated into seed words. Depending on the wallet, you will be given either 12, 18 or 24 seed words. Generally, it is a secret key phrase that you might even be able to remember. Especially if you do care about the large amount of crypto stored in that wallet. So when you get the key phrase you are advised to write it down and store somewhere to keep your crypto wallet safe. To many users that would mean copying it so a notes app of some kind. Like Google Keep or Apple Notes. This is not secure! Because in such a way your key phrase will be stored online, being a potential subject to various hacks, scams etc. Google, Apple, Microsoft and others might claim they use strong encryption to protect your data. But we all understand how dubious these statements are. Use a reputable cryptocurrency exchange for buying and selling So you know that it is better to store your crypto in a non-custodial or even hardware wallet. But what if you need some crypto at your instant reach. Maybe you need to buy or sell it from time to time, or do some transactions. A custodial crypto wallet at some crypto exchange is much more convenient for fast transactions. So you might throw a part of your assets there. Just make sure to choose wisely. There are plenty of organizations that call themselves ‘crypto exchanges’. It is better to pay a little bit higher fees but to make sure the exchange will not let you down. There are plenty of famous hack and fraud stories with crypto exchanges. Users have lost literally billions of dollars. Try to choose among the most famous exchanges (Coinbase, Kraken, Binance etc.) and try not to keep too much of your crypto in these wallets anyway. Always secure your network No matter what kind of crypto wallet you use and how many of them you have, it is very important to take care of the network security. Numerous hacks have been made thanks to users who neglect the basic rules of network secutity. First of all don’t use primitive passwords. You might be using a non-custodial wallet but your seed phrase might be stored in the Notes app of your smartphone which is protected with a lock screen password 0000. That’s quite a typical situation today. Many users don’t update their software regularly. Some even feel irritated by the constant update reminders in their operating systems and try to switch them off. Meanwhile in most cases those updates are dealing with security issues. Sometimes a recent security patch might be the only way to keep your crypto wallet safe. Beware of phishing attacks through various pretty ‘innocent’ email links or website forms. Many of them are targeted at crypto wallets specifically, trying to steal your private key or exchange’s login credentials. Be sure to use VPN at all times. It is especially required when you are connecting to a public network with free Wi-Fi. But even at home it is still better to do your crypto transactions being protected by end-to-end encryption from a well-established VPN provider. A few dollars a month for VPN can save your much precious crypto assets.

6 Biggest Crypto Investing Mistakes to Avoid

Bitcoin

Jun 21, 2024

Crypto market is risky. Yet, it is one of the most profitable markets humanity has ever invented. How to invest in cryptocurrency so that your money was safe and you could get the most income? Let’s find out. The hype around cryptocurrencies has become so widespread that everyone wants to invest today. Hearing of all those 10x, 20x, 100x made on some unknown meme coins can be rather disturbing. Someone is already driving a brand new Ferrari while you still go to work every day. Why not try to succeed by yourself? It's tempting isn't it? But mind the risks. The amount of money actually makes no difference - besides the sum of your losses, of course - if you are unfamiliar with the basic principles of crypto finance. The thing is that crypto has been - and still is to a certain extent - the playground for enthusiasts. There are many things that beginners can trip over. You may not understand the crypto lingo well enough. You can become a victim of a scam. You can mess up with settings in your crypto wallet. You might accidentally send assets to a wrong crypto address. Plenty of things can happen. And almost all of them will lead you directly to financial losses. What can you do to avoid such troubles and how to invest in cryptocurrency with minimal risks? Let’s take a look at the most common mistakes novice investors usually make. 6 Biggest Crypto Investing Mistakes and How to Avoid Them It’s very easy to get caught up in the hype of news headlines. Crypto mistakes are startlingly common, and below we list some of them. Don’t buy crypto just because the price is low Low prices can be a great seduction. Especially if the coin is falling. It is easy to think that a low price is a great bargain. While sometimes it might be true, mostly prices are low for a reason. Some cryptocurrencies are just losing popularity. You have to try to understand if this is just a price hike and bounce or the coin is just falling at user rates. Some cryptocurrencies are dropped by developers. Later they might be considered dead, but you can be one of those who jump at the wagon going nowhere. Don’t go ‘all-in’ if you are not sure Many trading platforms are eager to squeeze as much money from you as possible. To do that they always make it look like the only option is to invest as much as possible. They say it will maximize the profits, usually not mentioning that it will maximize the losses also. You must remember betting as much as possible is a quick way to the poor house. Crypto investing is not gambling by any means. Do not think crypto is easy money Nothing related to crypto can be considered as easy money. No matter how exactly you are trying to invest, be it simply buying and holding or trading, investing in crypto is just as serious a business as investing in stocks or commodities like silver and gold. If you meet someone who says something different you should understand he or she is probably trying to trick you into making crypto mistakes. Do not fall into scams Please remember, the more attractive the deal looks, the more potentially dangerous it is. Most of the scammers use the attractiveness of the deal as their main weapon. For instance you might receive an email with an “investment opportunity” promising huge income or telling you that if you send them crypto they will double or triple the amount. Offers of free money should always be viewed with great skepticism. As well as the opportunities with less known tokens that suddenly skyrocket. One day someone will come to you pointing at a coin that is gaining 200% a week. That might sound like a great chance to invest. But criminals often easily inflate or deflate the price of very small or unknown cryptocurrencies. There are cases with scammers pre-mining some currency, then skyrocketing it to sell all they have got at the peak to somebody like you, who thinks this coin will still rise. You have to be very careful before buying some crypto you have never heard of. There is also a huge problem with crypto wallets. While there are a large number of famous and well respected wallets, such as Ledger, Exodus, Edge, MetaMask, there are plenty of less known entities. Most of them reside in the App Store and Google Play. Every once in a while you can hear stories of some wallet stealing assets from the users. You can avoid that by carefully choosing a wallet to trust your assets. Don’t forget or lose your crypto keyphrase No matter how carefully you have chosen the wallet, if it is custodian or hardware, then you are the only keeper of the secret keyphrase. Forgetting your keyphrase is like losing the keys to a bank vault. Without your keyphrase, all your cryptos will be irretrievable. Best crypto wallets always remind you to keep the keyphrase safe, but many users don’t pay much attention. And it is also important to notice that the keyphrase should be stored offline. Not in your email where it could be easily stolen from. Send crypto only to verified addresses The address is crucial to the way cryptocurrencies work. Sending assets to a wrong address will in most cases result in their irretrievable loss. Most wallets will remind you to double check the address when you send the assets. But still it is you and only you who is reliable for the final result. Crypto addresses are long and tricky, so it is always safer to copy and paste them rather than type them in. But sending to a wrong address is a potential mistake not only because of the misprints. There is another danger. You can send crypto to the wrong network. It is not likely to happen when you are sending crypto that uses just one network or a few that are interchangeable. But if you are sending, for example, a stablecoin like Tether (USDT) you must be extremely careful. Tether could be sent via different blockchains and if you send it to the wrong one, the coins will be lost forever. Large exchanges like Coinbase have built systems to protect users from such mistakes. You can simply send crypto to a user chosen by his username rather than his wallet’s address. And the exchange’s software will automatically define the correct network to transfer the coins to the appropriate wallet that belongs to that user. Of course, such a technology brings another danger as you might send your crypto to a wrong username. So careful checking of the address or a username of the recipient is of paramount importance. Check everything twice before sending crypto. Takeaways Crypto is no easy game. It might give you enormous, almost marvelous opportunities to get rich. But it can also be a source of great disappointments. Be careful making important decisions. Don't fall into scams and don't think crypto is easy money.

21 Rules of HODLing Bitcoin According to Michael Saylor, the Legendary Crypto Bull

Bitcoin

Jun 19, 2024

Michael Saylor, executive chairman of MicroStrategy and a prominent crypto bull, just outlined 21 rules of HODling Bitcoin. Some of them might seem quite trivial. Yet, some of them are absolutely brilliant. Check them out. Saylor was a gem of the recent BTC Prague conference. His keynote was captivating. And some of the things he said might have a huge impact on the market. At least in short terms. What's worth at least Saylor's fantastic prediction of Bitcoin reaching the $8 million per coin mark Or not so fantastic? But another part of his speech might have a bigger impact in long terms. Saylor presented his vision of “21 Rules of HODLing Bitcoin.” Biggest bull on the market, Saylor outlined strategies for managing and sustaining investments in a highly volatile environment. He articulated a philosophical and strategic framework for understanding and investing in BTC. According to Saylor, Bitcoin is so much more than just money. Saylor thinks of Bitcoin as of a financial asset but as a revolutionary tool capable of reshaping global financial paradigms. These rules were consisely summarized by Luke Broyles and published via X. Here they are with comments from market observers. 21 rules of HODLing Bitcoin, according to Michael Saylor #1 “Those who understand buy Bitcoin, those who don’t criticize Bitcoin,” Saylor declared, setting the tone for his discourse on the dichotomy between skeptics and proponents. He argued that recognizing BTC’s potential is akin to seeing a paradigm shift before it fully unfolds. #2 "Everyone is against #Bitcoin before they are for it." Reflecting on his initial dismissive stance in 2013, Saylor recounted how his view evolved as BTC’s resilience and potential became increasingly evident. His personal journey from skepticism to advocacy underscores a common path among investors who often transition from doubt to strong support. #3 "You will never be done learning about Bitcoin,” Saylor stated, emphasizing the complexity and ever-evolving nature of the cryptocurrency. He suggested that BTC’s intersection with global economics, technology, and regulatory frameworks makes it a perpetually relevant subject for study. #4 Drawing historical parallels, Saylor highlighted moments of significant upheaval, such as WWII and the rise of communism in Europe, to illustrate BTC’s value as a non-geopolitical, stable store of wealth. “Buy BTC because entropy is guaranteed,” he asserted, suggesting that Bitcoin provides a safe haven in times of disorder. #5 According to Saylor, BTC offers an equitable opportunity in contrast to traditional financial systems, which he views as inherently skewed against the average person. “Bitcoin is the only game in the casino that we can all win,” he noted, framing it as a uniquely fair and transparent financial instrument. #6 He advised taking a proactive approach to investment, saying, “Bitcoin won’t protect you if you don’t wear the armor.” This analogy was used to encourage substantial, thoughtful investment in Bitcoin to safeguard one’s financial future. #7 Saylor passionately argued that Bitcoin enables a form of ownership unmediated by any third party: “Your cryptographic keys in your head are your wealth.” This, he claimed, is a radical shift from the way assets have been controlled and protected throughout history. #8 Reflecting on the volatility and growth trajectory, Saylor shared a personal anecdote on how he dismissed BTC at $892 to only deserve buying it at $9,500 for the first time. “Everyone gets Bitcoin at the price they deserve,” he remarked. “He then said when Bitcoin is $950,000 people will try to wait for it to crash to $700,000. Then BTC would go to $8,000,000,” Broyles reiterated. #9 Saylor advised only investing money that one can afford to lose, highlighting the conservative approach to adopting new financial technologies. This rule underscores the balance between visionary investment and financial prudence. #10 Describing fiat currencies and traditional economic indicators as “the matrix,” Saylor championed Bitcoin as a means to transcend conventional financial systems. He sees it as not just a technology but a liberation from the restrictive narratives imposed by traditional economic structures. #11 Saylor shared insights from personal experiences where Bitcoin’s impact on his company’s financial stability was profound. “Without BTC, MSTR would have failed,” he disclosed, illustrating the direct impact of strategic Bitcoin investments on corporate finance. #12 Saylor projected a conservative 24% compound annual growth rate (CAGR) over the next decade, setting a potential valuation benchmark and underscoring his confidence in BTC’s sustained growth. Notably, this would price BTC at $600,000 by 2034. #13 Saylor described the current economic system as flawed, seeing BTC as a cure for these inherent issues. “The cure to economic illness is the orange pill,” he said, promoting it as a revolutionary technology that offers a radical update to outdated economic practices. #14 Rather than attacking the fading fiat system, Saylor urged for a positive approach: “Be for Bitcoin, not against fiat,” emphasizing the importance of building a new system rather than destructively opposing the old. #15 According to Saylor, “Bitcoin is for everybody.” He projected that digital capital like BTC could eventually represent half of all value in a future, yet-to-be-imagined world economy, which would significantly drive up its price. #16 “Learn to think in Bitcoin,” Saylor advised, encouraging a shift in perspective to view future technologies and paradigms through the lens of BTC, rather than trying to fit new innovations into old frameworks. #17 “You don’t change Bitcoin, it changes you.” Saylor highlighted how BTC challenges individuals to rethink their approach to money, value, and investment on a global scale. #18 “Laser eyes protect you from endless lies.” Saylor underscored the importance of maintaining focus on the long-term potential, especially when its market price reaches landmarks like $100,000 or $1 million. He envisioned a future where BTC’s market cap could escalate to between $100 trillion and $500 trillion. #19 He cautioned, “Respect Bitcoin or it will make a clown of you.” This rule was a warning against underestimating BTC’s impact and the foolishness of mocking an emerging financial technology that has substantial backing and proven resilience. #20 “You do not sell your Bitcoin.” Saylor likened selling BTC to self-sabotage, suggesting that it is a foundational asset for long-term financial security, much like a life raft in an ocean or a fire in winter. #21 Finally, Saylor concluded with, “Spread Bitcoin with love.” He stressed the importance of patience and kindness in promoting BTC, especially towards those who are initially critical or dismissive of its benefits.

Who Is Satoshi Nakamoto? 10 Craziest Theories on Bitcoin's Enigmatic Creator

Bitcoin

Jun 18, 2024

Bitcoin has brought enough change to the world for his creator to become a legend. Who is Satoshi Nakamoto and will we ever find him? And does the CIA have anything to do with it? Satoshi Nakamoto might one day be awarded a Nobel Prize for Bitcoin. Of course, if he ever shows up. Because, you know, these prizes are never awarded anonymously. The fact that in the age in which it is extremely hard to be anonymous, the identity of the Bitcoin creator is unknown tells a lot. No wonder there are plenty of theories about who Satoshi Nakamoto is or was. Some of them are very well reasoned. Some are just preposterous. But still the Bitcoin itself is such an extraordinary revolution that nothing related to it should be approached with ordinary standards. Let’s take a look at some of the most wild theories about who Satoshi Nakamoto is. Satoshi Nakamoto created Bitcoin - what do we know for sure Thirteen years ago a person or group of people using the name Satoshi Nakamoto released a paper describing a new software system called Bitcoin. Bitcoin has sparked a phenomenon that, its proponents believe, might rewire the entire global finance. Today Bitcoin is worth more than $1 trillion. Plenty of competitive cryptocurrencies have appeared. Apart from cryptocurrencies, Blockchain has lit the way for blockchain technologies. Blockchain is now widely adopted in many fields that are not related to finance. NFT (non-fungible token) is also a product of the blockchain technology. And the arising Metaverse is something that can be hardly imagined without blockchain or cryptocurrencies. So how come we still do not know who invented Bitcoin? Who actually is Satoshi Nakamoto? His public life was pretty short. Here is the list of things he had done before he vanished. The public life of Satoshi Nakamoto On Oct. 31, 2008, Satoshi Nakamoto sent a paper to a group of cryptographers. It contained just nine pages outlining a new form of “electronic cash”. This is when the name Bitcoin first appeared. At the time nobody asked questions about Satoshi Nakamoto’s identity. On Jan. 9, 2009, Satoshi Nakamoto launched the Bitcoin network. A few cryptographers helped him remotely to get the network running. The first Bitcoin transaction went from Satoshi Nakamoto to one of those scientists. December, 2010, Satoshi Nakamoto stopped posting publicly. He had published messages on forums and exchanged private emails with the Bitcoin developers until he passed leadership of the project to a software developer Gavin Andresen. None of Satoshi Nakomoto’s messages ever mentioned anything personal. All of them have been thoroughly analyzed since then, but there aren’t any clues to who Satoshi Nakamot is. Everything he ever wrote was about bitcoin and its code. It is impossible to find out who registered the website that Satoshi Nakamoto was using to promote his ideas to developers. Two email addresses his letters came from also vanished. One possible clue to Satoshi Nakamoto’s identity might be hidden in his personal wallets. Yes, Satoshi Nakamoto disappeared having mined over 1 million BTC. These coins have not moved yet. Today those BTC are worth about $55 billion. That would make Satoshi Nakamoto one of the 30 richest people in the world. He actually could have bought Twitter instead of Elon Musk, if he wanted. Whoever moves these tokens now would probably be Satoshi Nakamoto. What is the reason for Satoshi Nakamoto to hide his real identity? In the early years, members of the cryptocurrency community assumed that Satoshi Nakamoto remained anonymous mainly out of fear. He could be afraid of getting arrested or something. It was yet to be seen if Bitcoin would be widely accepted and not approached as something illegal and criminal. Who is Satoshi Nakamoto? What are the most relevant theories? Over the years many people were pegged as “the real Satoshi Nakamoto”. At the same time many people have voluntarily claimed to be him. And in all the cases there was not enough evidence. Who is Satoshi Nakamoto if not Dorian Nakamoto? Dorian Nakamoto, who graduated in physics from California Polytechnic and worked on classified US defense projects, is a Japanese-American scientist. He clearly showed libertarian leanings, just as Satoshi Nakamoto in his papers. This version seems to be the most reasonable. Even Newsweek claimed Dorian Nakamoto to be “that Nakamoto”. Back in 2014, the magazine made the first high-profile attempt to reveal the identity of Bitcoin's founder. That was a clear sign that Bitcoin was going mainstream. But Dorian Nakamoto denied the claim. He told media he had nothing to do with Bitcoin. Hal Finney was Satoshi Nakamoto? One of the earliest theories claimed that the answer to the question of who Satoshi Nakamoto is was pretty obvious. Hal Finney, a cryptographer who worked with Satoshi closely in the early days of Bitcoin, was the first suspect. Satoshi Nakamoto allegedly made his first Bitcoin transfer to Finney. Why wouldn’t we assume that there was no mysterious Bitcoin creator with Japanese roots? Maybe Hal Finney is Satoshi Nakamoto? Finney denied such allegations. He died in 2014, so even if he was Satoshi we will probably never find out. And those $55 billion will remain untouched forever. Gavin Andresen is Satoshi Nakamoto? Andresen is alive and has always denied any possibility for him to be Satoshi Nakamoto. There hasn’t been evidence to prove otherwise. The main reason why people keep thinking of Andresen while trying to answer the question “Who is Satashi Nakamoto” is that Andresen is the person responsible for Bitcoin development in 2011-2012. Exactly when Satoshi was already absent. Andresen became “core maintainer” and chief developer of the open source code that defines the rules of Bitcoin. He used Satoshi Nakamoto’s legacy and diligently worked full-time on the Bitcoin code for years. Andresen conceived the nonprofit Bitcoin Foundation which is now the closest thing to a central authority in the world of Bitcoin. He denied the claim that he was Satoshi Nakamoto. But many people think that even if he isn’t the mysterious creator of Bitcoin he might still know who Satoshi Nakamoto is. Nick Szabo is Satoshi Nakamoto? Nick Szabo is a computer engineer who had actually worked on something very much like Bitcoin years before Satoshi Nakamoto appeared. He conceptualized a decentralized currency he called Bit Gold. It has some obvious resemblance with Bitcoin. And he proposed an idea of smart contract in 1996. No wonder many experts started seeing a possibility for Szabo to be Satoshi Nakamoto. In 2014, a group of researchers at Aston University in Birmingham, England, carried out a linguistic analysis of all the correspondence of Satoshi Nakamoto in the early days of Bitcoin. The researchers concluded that Szabo was most likely to be Nakamoto. Szabo has denied the claim. No other evidence to that theory has ever been published. Elon Musk mentioned Szabo in one of his interviews as a possible candidate for the role of Satoshi Nakamoto. He claimed Szabo was “more responsible for the ideas behind Bitcoin than anyone else.” Craig Wright is Satoshi Nakamoto? This is a more interesting story. Craig Wright is an Australian programmer who lives in London. In 2016 he claimed to be Satoshi Nakamoto. The Bitcoin community did not give him a warm welcome. His claims were quickly rejected. Wright was eager to stand with his claims. He even pledged to prove he was Nakamoto by moving some of those early bitcoins. He also sued some media who tried to announce his claims false. Yet to this date, he hasn’t done anything that could make us believe he actually is Satoshi Nakamoto. Even the British judge ruled that Craig lied about being Bitcoin creator. Dave Kleiman was, well, a part of “Satoshi Nakamoto”? Wright’s story seems a bit more intriguing when you remember the Florida lawsuit. Wright himself was sued by the family of his deceased colleague named Dave Kleiman. The suit claimed that Wright actually had been developing Bitcoin together with Kleiman. And as a result of this business partnership Wright owed Kleiman’s family half of those Bitcoins they had mined. There was a trial process, almost Hollywood alike. But the jury found no evidence that Wright and Kleiman were Bitcoin creators, separately or jointly. Could Elon Musk be Satoshi Nakamoto? That might be one of the weirdest ideas ever. But still some people think Elon Musk could have something to do with Bitcoin development. The theory has been around for years. However, Musk has denied these allegations. His direct answer to one of his Twitter followers points to a fact that Musk does not own any BTC. Of course, putting Musk in charge of literally everything now is quite trendy. Recently a theory has been announced that claims Elon Musk and Vitalik Buterin are responsible for Shiba Inu. Seeing Musk as Satoshi Nakamoto is something any of his true fans is eager to do. Musk is a genius, right? He put us all into electric cars, he is about to send humanity to Mars. Why couldn’t he also invent the revolutionary cryptocurrency? But no matter how attractive this idea might seem, we have absolutely no evidence for it whatsoever. Who is Satoshi Nakamoto? Nothing but a puzzle! Well, that’s another wild theory. Years ago some people supposed that Satoshi Nakamoto might be a group of people actually hiding behind that name. If the theory is true, the name Satoshi Nakomoto might not mean anything at all. For instance, it could have been taken from the phone book. Or it may be a puzzle. What if people from that mysterious group of thinkers not only created Bitcoin but also tried to tell us something with that strange name? Could “Satoshi Nakomoto” be just a puzzle? Well, if it is. What does it tell us? At the moment, there are two quite wild theories about that puzzle. According to the first of them, in Japan names are presented by surname first. So we need to write it as Nakamoto Satoshi. If you take a Japanese dictionary and look up the word Nakamoto you will find it means “central origin”. Looking up the word Satoshi gives us “wise” or “clear thinking”. You could also derive the word “intelligent” from it. So adding a little imagination could easily lead you to assume that Satoshi Nakamoto is Central Intelligent. Which basically means we are talking about the CIA. Another conspiracy theory shows that Satoshi Nakamoto could have been a corporate consortium. The name Satoshi Nakamoto, in this theory, derives from these four names: SAmsung, TOSHIba, NAKAmichi MOTOrola.

Top 5 Best Ways to Make Money with NFTs for Beginners

APENFT

Jun 15, 2024

The world went completely nuts over NFTs back in 2021. The hysteria then kind of went into hiatus with episodic spark of a flame. Yet NFTs still can be a rather good investment, of course, if you know what you're doing. Non-Fungible Tokens (NFTs) might not seem the golden opportunity as of now. But they still attract investors, artists, and entrepreneurs of all sorts. Navigating this space might seem complicated and frightening. Even if you have some experience as a cryptocurrency investor, you will soon feel that NFT world is so much different from what you know. But with the right approach, NFTs might be a profitable venture. Here's what you should know for starters. What is an NFT? A Non-Fungible Token (NFT) is a unique digital asset that represents ownership or proof of authenticity of a specific item or piece of content. It is stored on a blockchain. Just like any other crypto asset. But unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible and can be exchanged on a one-to-one basis, NFTs are distinct. Think of a Bitcoin as a dollar bill. Any dollar bill has an equal value to another dollar bill of the same nomination (i.e. 100 dollars always equals another 100 dollars). Think of an NFT as a unique golden necklace. While gold itself might have a specific price at the moment, it is the style of the necklace, the mastery of a craftsman, that define how much it actually costs. And you can't compare one necklace to another just because they have roughly the same weight. Each NFT has unique properties and metadata that distinguish it from other tokens. There will be no two interchangeable NFTs. Ever. Thus, NFTs are a perfect too for representing digital art, collectibles, music, virtual real estate, and more. NFTs are stored in a decentralized manner. You can always show a definitive proof that you - and only you - are the real owner of this specific NFT. Since their inception, NFTs have massively changed the landscape of the digital art. Specifically, NFTs changed the way digital content is bought, sold, and owned. Creators can monetize their work directly. No traditional intermediaries required. But there is another unique feature that makes NFTs an undisputable part of the crypto future. Thanks to smart contracts NFT creators can retain royalties on secondary sales. It means that having created an NFT, you can define the conditions of its future sales. No matter how many times your NFT will change hands after you sell it for the first time, you will get your royalty each time. NFT technology also proved to be an impeccable way to prove ownership to something. And many analysts think that NFTs are just at the beginning of their way into the crypto future. Pros and Cons of NFTs as an Investment Pros of NFTs Investing in NFTs offers several compelling advantages. Firstly, owning an NFT means you - and only you own it now. You have unique ownership, you own one-of-a-kind digital asset. This uniqueness can drive demand and scarcity, particularly for popular or culturally significant items. Creating an NFT by yourself you can embed royalties into the digital contracts. You will receive a percentage of future sales. That is a phenomenal benefit, compared to traditional market of the art goods. And, of course, having NFTs greatly diversifies your crypto portfolio. Cons of NFTs Investing in NFTs also comes with notable risks and drawbacks. The market for NFTs is highly speculative and volatile. Hype usually drive the prices rather than intrinsic value. Many beginner investors have felt this painfully in 2022 when the initial NFT boom suddenly began to fold. The other thing one shouldn't forget before investing in NFTs is the total absence of any kind of regulations. Consumer protection here is non-existent. Everything you ever to with NFTs is up to your personal risk. Another substantial risk is liquidity. The market is pretty saturated, even beloved celebrities sometimes find it difficult to find buyers. Creating and Selling NFTs One of the most direct ways to make money with NFTs is by creating and selling them. This process involves several steps: a. Choose a Platform Selecting the right platform is crucial. Some popular platforms include: OpenSea: The largest NFT marketplace. Rarible: User-friendly with a strong community. Mintable: Ideal for beginners with an easy-to-use interface. Each platform has its pros and cons. Research to find the best fit for your needs. b. Create Digital Art Your NFT can be any digital asset—art, music, videos, or even virtual items. Creativity is key. Use tools like Adobe Photoshop or Procreate for visual art, or GarageBand for music creation. c. Mint Your NFT Minting involves converting your digital art into an NFT on the blockchain. This process is simple on platforms like OpenSea: Sign up for an account. Connect your digital wallet (e.g., MetaMask). Upload your digital file. Fill in details (title, description, etc.). Set your price (fixed price, auction, or declining price). d. List for Sale Once minted, list your NFT for sale. Promote it on social media and NFT communities to attract buyers. e. Earn Royalties Many platforms allow creators to earn royalties on secondary sales. This means you can continue to earn whenever your NFT is resold. Investing in NFTs Investing in NFTs can be lucrative, but it requires careful research and strategy. Here’s how to get started: a. Research Understand the market. Follow NFT news, join communities, and study trends. Key resources include: Twitter: Follow NFT influencers. Discord: Join NFT project servers. News Sites: Read sites like CoinDesk and Decrypt. b. Choose Projects Wisely Not all NFTs are created equal. Look for projects with: Strong Community: Active and engaged communities. Unique Value Proposition: Unique or innovative offerings. Credible Team: Experienced and reputable creators. c. Buy Low, Sell High Timing is crucial. Buy NFTs at a low price during minting or early stages. Sell when the value appreciates. Use platforms like OpenSea to track price trends. d. Hold for Value Appreciation Some NFTs appreciate over time. Holding high-quality NFTs can yield significant returns. This strategy requires patience and a long-term view. Flipping NFTs Flipping involves buying NFTs at a low price and selling them for a profit. It’s akin to day trading in stocks. Here’s a step-by-step guide: a. Identify Underpriced NFTs Look for NFTs undervalued by the market. Tools like Rarity.tools and Nansen can help identify these opportunities. b. Buy at the Right Time Timing is everything. Buy during drops or when the market is slow. Avoid buying during hype peaks. c. List for Sale After purchasing, list your NFT at a higher price. Use auction listings to attract competitive bids. d. Monitor Market Trends Stay updated with market trends. Be ready to adjust your prices or hold your NFTs if the market shifts. Participating in NFT Airdrops Airdrops are free distributions of NFTs to community members. They’re often used to promote new projects. Here’s how to capitalize on them: a. Join NFT Communities Many airdrops are announced in NFT communities. Join Discord servers, follow Twitter accounts, and subscribe to newsletters. b. Fulfill Requirements Airdrops often have requirements, such as holding a specific NFT or participating in community activities. Ensure you meet these criteria. c. Claim Your Airdrop When an airdrop is announced, follow the instructions to claim your NFT. This usually involves connecting your wallet to the project’s website. d. Hold or Sell Decide whether to hold the airdropped NFT for potential value appreciation or sell it immediately for quick profits. 5. Staking and Earning NFTs Staking involves locking up your NFTs or cryptocurrencies in a platform to earn rewards, including NFTs. Here’s how it works: a. Choose a Staking Platform Select a platform that offers NFT staking. Popular options include: Rarible: Offers staking for its native token RARI. BakerySwap: Allows NFT staking for various rewards. Zora: Innovative platform with staking options. b. Stake Your Assets Lock your NFTs or cryptocurrencies into the staking pool. Ensure you understand the terms and potential risks. c. Earn Rewards Rewards vary by platform. You may earn additional NFTs, tokens, or both. Monitor your staking dashboard to track earnings. d. Reinvest or Cash Out Decide whether to reinvest your rewards or cash them out. Reinvesting can compound your earnings, while cashing out provides immediate profit. Key Takeaways NFTs offer numerous ways to make money. Even if you are a beginner who has just learnt what an NFT is. There plenty of ways you can profit from NFTs for creators and investors. Find undervalued NFTs and sell them to someone else. Stake NFTs for rewards. Participate in airdrops. Create NFTs of your own, be it a drawing or a song. Just mind the risks. The NFT market is dynamic and evolving. You should always have a clear plan and reliable information.

5 Ways to Cash Out Bitcoin & Crypto Instantly in 2024

Bitcoin

Jun 13, 2024

Buying cryptocurrencies has always been easier that cashing out. What are the easiest ways to to that? Of course, true crypto warriors dislike the very idea of cashing out. Bitcoin maximalists believe that all you have to do is HODL, whatever happens. Because, you know, as they say 'when in doubt zoom out' and that explains everything. However, there are situation when you might want to get some cash. And your crypto ways are the best - or the only! - way to do it quickly. Cashing out Bitcoin and other cryptocurrencies can be a bit tricky. And it is definitely more difficult that buying crypto in the first place. Knowing how to convert your digital assets to cash is essential. Here are five effective methods to cash out Bitcoin and other cryptocurrencies instantly. Cryptocurrency Exchanges This is probably the easiest way to cash out crypto instantly. Exchanges like Coinbase, Binance, and Kraken allow users to sell Bitcoin and other cryptocurrencies directly for fiat currency. There are some caveats, of course. This method might require you to send your crypto from a non-custodial wallet to your exchange wallet. It requires you to pass the KYC procedure. And of course, as any other legal way, this one includes taxes. How it Works: Firstly, you create an account. Don't worry, all you have to do is just sign up on the exchange platform. Then complete the KYC (Know Your Customer) process. Transfer BTC to the exchange wallet. Place a sell order for the amount you want to sell. Here you can choose a market order for an immediate sale or a limit order for a specific price. Though some exchanges simply buy the crypto from you. That's the most convenient way. Lastly, withdraw fiat. It would land on your exchange's linked debit card. Pros: Ease of use: User-friendly interfaces. Liquidity: High trading volumes ensure instant transactions. Cons: Fees: Transaction and withdrawal fees. Regulation: Some exchanges have strict regulatory requirements. Peer-to-Peer (P2P) Platforms A very popular way to sell crypto easily and fast. Though it requires some knowledge and skills. P2P platforms like LocalBitcoins, Paxful, and Binance P2P connect buyers and sellers directly. You are selling crypto to other users without intermediaries. The exchange is just overseeing the deal. How it Works: Sign up on a P2P platform, create a sell offer, specify the amount of BTC you want to sell and the payment method. The platform then matches you with a buyer based on your criteria. Once the buyer transfers the agreed amount of fiat currency, you release the BTC. Pros: Multiple payment options: Bank transfers, PayPal, cash, etc. Privacy: Less stringent KYC requirements. Cons: Risk: Potential for scams and fraud. Time-consuming: Matching and completing transactions can take time. Bitcoin ATMs There was a time when Bitcoin ATMs were seen as the easiest way to ensure wide crypto adoption. The number of those ATMs kept rising for a while, yet now they are less popular. It was no the way Satoshi dreamt of Bitcoin, the hard core fans say. Anyway, if you find one near you, why not use it? Bitcoin ATMs provide a quick and convenient way to sell BTC for cash. How it Works: Locate a BTM. You can do it by using a service like CoinATMRadar. Verify your identity: Depending on the amount, you may need to provide ID. Follow the on screen instruction - don't worry, they are "for dummies". Send the BTC to the BTM’s wallet address. Wait for the machine to dispense cash equivalent to the sold BTC. Pros: Instant cash: Immediate withdrawal. Convenience: Easy to use, available 24/7. Cons: Fees: High transaction fees compared to other methods. Availability: Limited number of BTMs. Over-the-Counter (OTC) Trading OTC trading is suitable for large transactions, offering privacy and minimal market impact. Platforms like Genesis Trading, Circle Trade, and Kraken OTC provide these services. How it Works: Reach out to an OTC trading platform.Discuss the trade specifics, including price and volume. Transfer BTC to the OTC desk, and receive fiat in return. Pros: Privacy: Discreet transactions. Volume: Suitable for large trades. Cons: Access: Typically requires high minimum transaction amounts. Fees: Negotiable but can be significant. Crypto-Backed Loans You can get some fiat cash without actually selling your Bitcoin. Or any other crypto, for that matter. Crypto-backed loans can be found on numerous platforms. Most popular among those are Nexo and YouHodler. Basically they allow you borrow fiat currency against your BTC collateral. How it Works: Sign up on a lending platform, then deposit BTC as collateral. Get a loan and receive fiat currency as a loan against your BTC. Repay loan - pay back the loan to reclaim your BTC or forfeit it if you default. Pros: No need to sell BTC: Retain your BTC while accessing cash. Flexibility: Various loan options and terms. Cons: Interest rates: Loan interest can be high. Risk of liquidation: BTC collateral can be liquidated if the value drops. Takeaways If you are not a dedicated hodler - oh god, how is it even possible! - you might want to try some of these ways to cash out Bitcoin. Some of them are transparent and straightforward. Yet, they require KYC procedure. Other are fast, but might require some skills not every novice crypto user possesses.

Is Shiba Inu Dead?

Shibwifhatcoin

Jun 12, 2024

Shiba Inu, a cryptocurrency born from internet memes, is dead. Or maybe not. Some analysts go as far as to say Shiba Inu is dead in 2024. As in not worth investing and even discussing. Is there a chance they are wrong? Let's find out. According to a bunch of analysts, Shiba Inu is losing ground due to a tough competition and sluggish development. Other still think Shiba Inu has enormous potential fueled by its enthusiastic community. Who is right and who is wrong here? And should you invest in Shiba Inu in 2024 or is the legendary meme coin dead? Let's start with a brief history of Shiba Inu. And then we'll take a look at what's going on with it now. The Detailed History of Shiba Inu: From Joke to Reality It all began in August 2020 when an anonymous individual or group known as Ryoshi launched the Shiba Inu token (SHIB). The guys were Inspired by the Shiba Inu dog breed. Their intention was to replicate and surpass the success of Dogecoin, another phenomenal cryptocurrency that started as a joke. Shiba Inu's journey kicked off on the Ethereum blockchain. That seemed pretty logical. Ethereum was the most advanced blockchain at that time. Nobody expected that, but Shiba Inu quickly gained traction. It appeared in the right place and the right time to be on the verge of the growing interest in meme coins. It got listed on Binance, then on Coinbase and KuCoin. Then the Shib Army appeared. That's the name the passionate community around the meme coin chose for itself. Then the large caliber PR gun arrived. That was the Ethereum co-founder Vitalik Buterin. In May 2021 he suddenly donated a significant portion of his SHIB holdings to charity. This move fueled interest to Shiba Inu. The coin grew in popularity. Even despite the pretty evil criticism from fans of more established cryptocurrencies. Bitcoin maximalists, for example, said that Shiba Inu is basically a scam. They pointed that the token lacks intrinsic value and utility. The community kept ignoring those attacks. In July 2021 the ShibaSwap was launched. It is a decentralized exchange that provides users with additional functionalities such as staking and swapping various tokens within the Shiba Inu ecosystem. Additional tokens were launched at that point, namely LEASH and BONE. Then things started to go a bit awry. Shiba Inu was unable to separate itself from the global crypto market. it reached its historical peak together with Bitcoin in autumn 2021. And then went into bearish sentiments together with the market. The dreadful volatility of Shiba Inu became its curse. In 2022 and 2023 Shiba Inu lost a significant portion of its popularity. That's a fair price to pay for bearish cycle. right? And that brings us to where we stand now - to the question, whether Shiba Inu is dead in 2024 or there is something more to it? Shiba Inu in 2024: What's Going On? Today we see SHIB is a top 15 cryptocurrency by market cap. Since the start of 2024 to the current date, the value of SHIB has increased by more than 300%. That's a phenomenal growth, far bigger than most of the well established cryptocurrencies out there. However, we all know Shiba Inu can do better. Today SHIB is still around 60% lower than its all-time high in 2021. Reasons Why Shiba Inu May Go Up The crypto market is unpredictable. But some factors can - and must! - be taken into account. Let's take a look at things that point to SHIB's inevitable growth. Shiba Inu boasts a dedicated and passionate community of supporters, known as the “Shib Army.” These guys actively promote and advocate for the project. They fueled the project in the past. Nothing says they won't to it in the future. Shiba Inu’s tokenomics is its strength. Its deflationary token model and burn mechanism are uncanny. Regular token burns gradually reduce the overall supply. And increasing scarcity, as we all know, is driving value appreciation. Shiba Inu has some surprises on its roadmap. That includes L2 blockchain and upgrades for Shiba Eternity and ShibaSwap. Reasons Why Shiba Inu May Go Down Now let's talk about things that might mean ultimate demise for Shiba Inu. Critics say that Shiba Inu’s vast token supply is simply killing it. There are literally trillions of tokens in circulation. That challenges market stability, even with the aforementioned token burns. There are so many newly born meme coins and DeFi projects, you can easily lose count of them. Shiba Inu faces stiff competition. Investor's attention is a finite resource. Like many other cryptocurrencies, Shiba Inu faces the regulatory uncertainty. Meme coins are so much weaker than the well established tokens like BTC. And legal hurdles pose so much more danger to them. Same goes to price volatility. It is almost impossible to asset the real value SHIB possesses because it's basically a meme coin, in case you forgot. Investor sentiments, market trends, FOMO, global politics - there are so many factors that can diminish the community support. Is Shiba Inu Dead in 2024 - Takeaways Short answer is "No." There are lots of troubles, legal hurdles and all kinds of uncertanties. Yet, there is a mighty community and some promising developments ahead. That is enough to be optimistic. Shiba Inu was - and still is - a leading meme coin and one of the driving forces of the DeFi as we know it.

Showing 31 to 40 of 41 results

1 2 3 4 5