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Meme Coin Weekly Watch: DOGE, FLOKI and MOG Are on the Rise
Jul 20, 2024
There were a lot of interesting events around meme coins this week, as always, though. Let's take a look at how the top ten behaved. Dogecoin remains the poster child of meme coins, but this week, it faced a slight dip and then went up, seeing a rather significant %16,8 increase. Dogecoin still maintains strong support from its community and continuous mentions in popular culture. The momentarily dip was attributed to profit-taking by short-term holders, but long-term sentiment remains bullish. Shiba Inu has had a volatile week. The coin initially surged by 5% following a new partnership announcement with a major e-commerce platform. However, the excitement was short-lived as concerns over a whale wallet moving a significant amount of SHIB caused a 6% drop. This movement indicates cautious optimism among traders, balancing between new developments and large holdings' influence. But finally the token gained some optimism and went up for a solid 7,2%. Pepe has been riding a wave of social media hype. The coin saw a 12% increase after a series of viral memes. Then another increase, and another one, adding up to a significant %37,2 overall increase. However, analysts warn that such pumps are often followed by sharp corrections, advising caution for those looking to jump on the hype train. Dogwifhat remains a more niche player but had an interesting week with a 57% rise. This was largely driven by the launch of a new community-driven initiative aimed at promoting the coin through creative projects. The initiative has attracted a new wave of interest, especially among younger, meme-savvy investors. Bonk experienced a rollercoaster week. The coin initially dropped by 3% due to a technical glitch in their new staking platform, causing panic among holders. However, once the issue was resolved, Bonk rebounded strongly, closing the week with a 39,9% net gain. This recovery highlights the community's resilience and the coin’s potential for quick rebounds. Although, of course, the initial drop underlines the risks associated with technical issues, and meme coins seem to be more prone to that than many other well established crypto assets. Floki had a mixed week. The coin saw a 6% increase following a successful marketing campaign that included a series of eye-catching billboards in major cities. Finally we saw a solid %34,8 increase. Brett continues to show promise with a steady 20,5% increase. This growth was driven by the announcement of a new gaming partnership that integrates Brett tokens as in-game currency. But the week was a roller coaster for the meme token, at some point there was a 33% rise followed by a 17% dip. Mog Coin saw a significant 40,3% rise, primarily driven by increased social media activity and a new meme contest that went viral. As we see now, Mog Coin build a dedicated community, although its market cap and trading volumes are still relatively small compared to its peers. Book of Meme had a quieter week, but the rise was substantial - a solid 26,4%. The coin’s performance was bolstered by the release of a new whitepaper outlining future plans for decentralized finance (DeFi) integrations. Dog (Runes) hand a bad week. There is an overall 7 day dip for 2,1%. Investors seem cautiously optimistic, but nothing points out to a radical surge in the near future.
Top 10 Ethereum Layer 2 Projects to Watch in 2024
Jul 18, 2024
The crypto bull market is back, and Ethereum's gas fees are through the roof again. But don't panic just yet. A bunch of clever folks have been busy cooking up faster, cheaper Layer 2 (L2) networks to save the day. Let's take a look at the hottest Ethereum L2 projects of 2024, ranked by experts, based on their tech, tokenomics, and why they might be worth your attention. 1. Pepe Unchained (PEPU) - The Meme Coin That Grew Up Remember Pepe? Well, he's back and he means business. Pepe Unchained isn't just another meme coin. It's a full-blown L2 network built on top of Ethereum. What's the deal? Faster transactions and lower fees than ETH. Plus, you can stake your PEPU tokens for some juicy rewards. The current APR is sitting at a whopping 1,200% per year. Not too shabby. The project's presale is already underway, and they've raised over $1.8 million so far. Looks like people are hungry for more Pepe action. 2. Arbitrum (ARB) - The Gas Fee Slayer If you're sick of paying an arm and a leg for Ethereum transactions, Arbitrum might be your new best friend. It uses some fancy "optimistic rollup" tech to bundle transactions and cut costs. Arbitrum's ecosystem includes Arbitrum One and Arbitrum Nova. Both use the Arbitrum Nitro stack for better performance. With over $2.97 billion locked in their smart contracts, they're not messing around. The ARB token lets users vote on network upgrades. It's like a crypto democracy, but with less shouting and more code. Something our politicians could learn a lot from, innit? 3. Polygon (MATIC) - The Swiss Army Knife of Scaling Polygon is like the multi-tool of Ethereum scaling. It's got a solution for everything: Polygon PoS for faster, cheaper transactions zkEVM for Ethereum-compatible rollups Polygon ID for blockchain identity stuff AggLayer for cross-chain shenanigans Their new Polygon 2.0 upgrade introduces POL, a token that works across multiple chains. They're calling it "hyperproductive." Sounds intense. And yet, that might be just the future of the crypto market. Many of us are tired of the whole 'zoo' of different chains that are incompatibe, and swapping tokens might be as complicated as the conversation of a japanese monk and Texas farmer without an interpreter. With a market cap of $7.40 billion, Polygon is a big player in the L2 game. 4. Optimism (OP) - The Developer's Best Friend Optimism is all about making life easier for Ethereum developers. Their secret sauce? EVM equivalence. It means you can copy-paste your Ethereum smart contracts and they'll just work. Like Arbitrum, Optimism uses optimistic rollups to scale. They process transactions off-chain and only record the results on Ethereum. It's like outsourcing your math homework but still getting the credit. The OP token is used for governance and network incentives. Their roadmap looks solid, with plans to keep improving performance and expanding their ecosystem. 5. Blast (BLAST) - The Yield Machine Blast is doing something different in the L2 space. They're all about generating yield on your crypto holdings. You can earn passive income on ETH and stablecoins without jumping through hoops. They use optimistic rollups like some of the others, but with a twist. Their auto-rebasing feature for ETH and USDB makes earning yield a breeze. Blast also shares gas revenue with dApp developers. It's like a "thank you" note, but with actual money. They hit $500 million in Total Value Locked (TVL) pretty quickly after launch. Not too shabby for the new kid on the block. 6. Loopring (LRC) - The DEX Builder's Dream Loopring is all about decentralized exchanges (DEXs). Their claim to fame? Order rings. It's a fancy way of matching multiple orders to squeeze out more liquidity. They use zero-knowledge rollups to keep things speedy and secure. Transactions happen off-chain, but they're settled on Ethereum. It's like having your cake and eating it too. The LRC token is used for staking, governance, and earning a slice of those sweet protocol fees. If you're into DEXs, Loopring is worth keeping an eye on. 7. Eclipse - The Speed Demon Eclipse is gunning for the title of fastest L2 in town. They're using the Solana Virtual Machine (SVM) for execution, which is like strapping a rocket to your transactions. But don't worry, they're not sacrificing security. Eclipse still settles on Ethereum, using a validating bridge to keep everything kosher. One cool thing about Eclipse? They're not planning to launch their own token. They'll just use ETH for gas fees. It's a bold move in a space where everyone and their dog has a token. 8. Mantle (MNT) - The People's L2 Mantle is waving the flag of decentralization. It's governed by a DAO, which means MNT token holders call the shots. It's like a crypto co-op. Their architecture is modular, separating transaction execution, data availability, and finality. It's a bit like building with Legos, but for blockchain nerds. Mantle uses optimistic rollups for scaling and something called EigenDA for decentralized data availability. They're also throwing money at developers through their EcoFund and Grants Program. It's like seed funding, but for the Web3 crowd. 9. Immutable X (IMX) - The NFT Paradise If you're into NFTs or blockchain gaming, Immutable X is your jam. They offer gas-free minting and trading, which is music to the ears of broke artists everywhere. Using StarkWare's ZK-Rollup tech, Immutable X can handle a ton of NFT transactions without breaking a sweat. They're also carbon-neutral, so you can trade your JPEGs with a clear conscience. Their API-driven approach makes it easy for developers to jump in without a Ph.D. in blockchain. The IMX token is used for staking, governance, and fees. They've got some big-name games on board like Gods Unchained and Illuvium. It's like the Steam of Web3 gaming. 10. dYdX (DYDX) - The Trader's Playground dYdX is where the cool kids go for decentralized perpetual trading. They handle orders off-chain but settle on-chain, which means you can trade fast without getting gouged on gas fees. They offer up to 20x leverage, so you can either make it big or lose your shirt in style. It's non-custodial, which means you keep control of your assets. No "not your keys, not your coins" drama here. The DYDX token lets users vote on protocol upgrades. They're also moving to their own chain built on Cosmos SDK. It's like they're growing up and moving out of Ethereum's basement.
10 Most Underestimated Geniuses of the Crypto World
Jul 02, 2024
The cryptocurrency world often shines a spotlight on big names like Satoshi Nakamoto, Vitalik Buterin, and even Elon Musk. These are real legends, beyond any doubt. However, beneath this layer of renowned figures lies a group of underestimated geniuses whose contributions are equally transformative. You probably haven't heard of them, unless you are one of them, of course. These individuals have played pivotal roles in shaping the industry, yet their recognition remains disproportionately low. They have created some of the most popular products in the crypto world, probably including some that you use daily. Maybe their inventions even helped you earn some pretty decent profits. Maybe you can't even imagine your life without these products now. Let's try to figure out the top ten such individuals, exploring their backgrounds, impacts, and why they deserve more credit. Go with us, it is going to be a pretty exciting ride. Gavin Wood Who Is He? Ah, Gavin Wood. Probably no one deserves a place in this list more, than this British computer scientist and co-founder of Ethereum and Polkadot. These two projects play an unbelievably important role in the world of blockchain. And yet, you probably have no clue who Gavin Wood is. You might have never heard his name. Though, of course, you know who Vitalik Buterin is, don't you, huh? He earned his Ph.D. in computer science from the University of York. And then became one of the kings of the emerging blockchain world. His input is, though, underestimated as hell. Short Bio Wood developed Ethereum’s programming language, Solidity. This is quite a big deal. Ethereum has become one of the driving forces of the blockchain world not for nothing. You've probably heard of smart contracts. Solidity, a brain child of Gavin Wood, is essential for writing smart contracts. He also introduced the concept of Ethereum’s Virtual Machine (EVM). Input in Crypto Industry Wood’s work on Solidity and the EVM laid the foundation for decentralized applications (dApps). He later founded Polkadot, a multi-chain platform aimed at enhancing interoperability between different blockchains. A few individuals can boast such a list of achievements, you bet. Why Underestimated? Wood is a pretty humble and modest person. His foundational contributions to Ethereum and the blockchain world are priceless. But Wood is almost totally overshadowed by Ethereum’s more prominent co-founder, Vitalik Buterin. Young Buterin is a charismatic speaker and a walking examples of the modern day nerd culture, more that the infamous TV character Sheldon Cooper, if you remember who that was. Wood's innovations in blockchain interoperability and development of Polkadot have not received the recognition they deserve. Anatoly Yakovenko Who Is He? Anatoly Yakovenko is the founder of Solana. You can be a fan of Solana, or be a hater (sometimes that happens also), but no one can be as stupid as not to see that Solana has given blockchain a momentum it needed so desperately to be taken seriously in the world of traditional finance. The fastest blockchain with the lowest fees, that was a stark contrast to a heavyweight Bitcoin. And while Bitcoin may still be the 'new gold', it Solana who holds a promise for blockchain to beat traditional finances. Short Bio Yakovenko holds a degree in computer science from the University of Illinois Urbana-Champaign and worked at Qualcomm before venturing into blockchain. He has a background in distributed systems. Input in Crypto Industry Solana, under Yakovenko’s leadership, has introduced a high-performance blockchain capable of processing thousands of transactions per second, making it one of the fastest in the industry. Why Underestimated? While Solana has gained popularity, Yakovenko himself remains relatively unknown compared to founders of other major blockchains. His innovative approach to blockchain scalability deserves more acknowledgment. Stani Kulechov Who Is He? Stani Kulechov is the founder and CEO of Aave, a decentralized finance (DeFi) protocol. One of the revolutionary and crucially important elements of the DeFi world, that you are either using already or are going to be using sooner that you think. Short Bio Kulechov is a Finnish entrepreneur with a law background. He started Aave in 2017, initially as ETHLend, a peer-to-peer lending platform. Now look at how far has the project gone since that, aren't you impressed? Input in Crypto Industry Killing banks is what Kulechov does, in fact. Aave has revolutionized the DeFi space with features like flash loans and credit delegation. It is one of the most widely used DeFi platforms, offering various financial services without intermediaries. Why Underestimated? Despite Aave’s success, Kulechov’s role and vision in the DeFi revolution are often overlooked. That is why you haven't probably ever heard his name. His contributions to creating a robust and user-friendly DeFi ecosystem deserve more recognition. Hayden Adams Who Is He? Hayden Adams is the creator of Uniswap, a decentralized exchange (DEX) protocol on Ethereum. Uniswap is beyond any doubt one of the most recognized and widely adopted projects among those that have risen on the shoulders of Ethereum, and this is also the most popular DEX, as of now. Short Bio Adams, a mechanical engineer by training, turned to coding after losing his job. What a coincidence, right? He developed Uniswap with a grant from the Ethereum Foundation. Input in Crypto Industry Uniswap introduced the automated market maker (AMM) model, which changed the landscape of trading in the crypto space by allowing direct peer-to-peer transactions without intermediaries. That can also be dubbed 'killing banks'. You just do your financial deals directly, protected by smart contracts. Why Underestimated? Adams’ work on Uniswap has significantly impacted the DEX space, yet he remains a lesser-known figure compared to others in the industry. His innovative approach to decentralized trading deserves broader recognition. Elizabeth Stark Who Is She? Elizabeth Stark is the co-founder and CEO of Lightning Labs, which develops the Lightning Network for Bitcoin. Short Bio Stark is an educator, entrepreneur, and former lecturer at Stanford and Yale, with a strong background in technology and law. Input in Crypto Industry The Lightning Network, a second-layer solution for Bitcoin, aims to enable fast, low-cost transactions. Stark’s leadership in developing and promoting this technology has been crucial for Bitcoin’s scalability. Why Underestimated? Despite her significant contributions to Bitcoin’s scalability solutions, Stark is often overshadowed by more prominent Bitcoin figures. Her role in advancing the Lightning Network is critical and deserves more recognition. Sergey Nazarov Who Is He? Sergey Nazarov is the co-founder of Chainlink, a decentralized oracle network. You've probably heard something of this project, even if you are a newbie in the world of DeFi and know nothing of blockchain besides a vague understanding of how Bitcoin works, or even less. Short Bio Nazarov has a background in philosophy and business administration. That might came in handy when he co-founded Chainlink to solve the problem of bringing real-world data to smart contracts. Input in Crypto Industry Chainlink provides secure and reliable oracles. It simply means that the decentralized network enables smart contracts to interact with external data sources, an absolutely unique feature in the crypto world. This has been instrumental in the growth of DeFi and other blockchain applications. Why Underestimated? While Chainlink is well-known, Nazarov’s personal contributions and vision are often underappreciated. His work on decentralized oracles has been fundamental to the expansion of blockchain functionalities. Charles Hoskinson Who Is He? Charles Hoskinson is a co-founder of Ethereum and the founder of Cardano. See, the man touched two of the blockchain legends that shape the world of crypto. So he is to be considered a legend himself, isn't he? Short Bio Hoskinson is a mathematician and entrepreneur. That may have played a significant role in his enormous chain of successes in the blockchain world, a strong vision is clearly something you might want to posses in order to be a great achiever like Hoskinson himself. He was one of the original co-founders of Ethereum before quitting and founding IOHK, the company behind Cardano. Input in Crypto Industry Hoskinson’s work on Cardano focuses on creating a secure and scalable blockchain through peer-reviewed research and formal methods. Why Underestimated? Hoskinson’s influence in the crypto industry is significant, yet he often doesn’t receive the same level of recognition as other Ethereum co-founders. His academic approach to blockchain development is innovative and impactful. ##Jed McCaleb Who Is He? Jed McCaleb is a co-founder of Ripple and Stellar. Both projects are famous, respected and require no additional comments even if you are reading this article on your third day in the world of crypto. Short Bio McCaleb is a programmer and entrepreneur who founded the infamous Mt. Gox exchange before moving on to more secure and scalable blockchain projects. Input in Crypto Industry McCaleb’s work on Ripple and Stellar focuses on improving cross-border payments and creating more inclusive financial systems. Why Underestimated? Despite his pioneering efforts in blockchain technology and payments, McCaleb’s contributions are often overshadowed by controversies and the more prominent figures of Ripple and Stellar. Robert Leshner Who Is He? Robert Leshner is the founder of Compound, a leading DeFi protocol, a project that will probably be named by one of the most definitive in the dawn of crypto by our successors. Short Bio Leshner is an economist and former municipal bond trader. He founded Compound to enable decentralized money markets. Input in Crypto Industry Compound allows users to earn interest on their crypto holdings and borrow against them in a decentralized manner, significantly influencing the DeFi landscape. Why Underestimated? Leshner’s contributions to DeFi through Compound are substantial, yet he remains less recognized than other DeFi pioneers. His role in enabling decentralized finance deserves more attention. Silvio Micali Who Is He? Silvio Micali is the founder of Algorand, a high-performance blockchain. Geeks often dub Algorand 'a next generation blockchain'. And there is a reason for that. Short Bio Micali came into crypto world not out of the blue. He is a renowned computer scientist and Turing Award winner. Most of his accolades came from his work in cryptography. Input in Crypto Industry Algorand aims to solve the blockchain trilemma, offering scalability, security, and decentralization. Micali’s innovations in consensus algorithms have been pivotal. Algorand has already shown some impressive results, yet if we someday see Micali's revolution in all it's glory, it might outshine many of the well-established names in the industry. Why Underestimated? Despite his prestigious background and Algorand’s technological advancements, Micali’s contributions are not as widely recognized in the crypto community. His work is foundational and impactful. Conclusion The cryptocurrency industry is full of brilliant minds whose contributions often go unnoticed. Not surprising for such a big industry with such a quick turn of events. What seemed new and significant to you yesterday, might be completely obsolete and irrelevant today. From developing foundational technologies to pioneering new financial systems, these ten underestimated geniuses have significantly shaped the crypto landscape. Recognizing their work not only honors their achievements but also inspires the next generation of innovators in this dynamic field.
Bitcoin vs Gold: How to Secure Your Holdings If WW3 Breaks Out
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.

10 Best Wallets to Hold USDT in 2024

Jul, 01 2024 14:53
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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.