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- BtcCasey
Charlie Munger Doesn’t Understand Bitcoin: Michael Saylor

Warren Buffett’s right-hand man hasn’t taken the time to understand Bitcoin, MicroStrategy’s Michael Saylor said in an interview with CNBC.

Michael Saylor’s latest interview includes a blast at Western elites, specifically Charlie Munger. 

Munger recently penned an op-ed for the Wall Street Journal titled, “Why America Should Ban Crypto.” In it, he slammed cryptocurrencies, explaining that: 

“Such wretched excess has gone on because there is a gap in regulation. A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity. Obviously the U.S. should now enact a new federal law that prevents this from happening.”

This is not the first time that Munger has been openly negative towards bitcoin and cryptocurrencies, having previously called it “rat poison squared” and “a bad combo of fraud and delusion.”

In a Friday interview with CNBC’s Morgan Brennan, Saylor addressed Munger’s recent op-ed and the Western elite’s opinions on Bitcoin. “If he was a business leader in South America or Africa or Asia and he spent a 100 hours studying the problem, he’d be more bullish on bitcoin than I am,” Saylor explained. “The Western elites have not had the time to study … but I’ve never really met someone with an incentive living in the rest of the world that spent some time thinking about it that wasn't enthusiastic about bitcoin.”

Saylor’s criticism of Munger came alongside further descriptions in regards to MicroStrategy’s plans to develop Lightning enterprise software, explaining for the first time in detail that “Microstrategy is actually developing MicroStrategy Lightning, our own enterprise Lightning offering. We’re going to allow CMOs to offer Lightning rewards or bitcoin rewards, like a frequent flier program, to hundreds of thousands or millions of their customers, all of their employees and all of their prospects, at the speed of light off a website — and we’re very enthusiastic about that.”

The MicroStrategy chairman is obviously still bullish on bitcoin’s growth irrespective of the opinion of legacy billionaires like Munger. In addition, his comments highlight his attention to the global nature of Bitcoin and its ability to enable those who are not yet financially connected as the West is.

Saylor has been persistent in his support for Bitcoin, and he believes that other regions around the world are more aware of the potential of the digital asset. With his commitment to developing Lightning enterprise software, Saylor is making clear his dedication to the adoption of bitcoin and to connecting the world in a new way.

- BtcCasey
Australian Government Releases First Steps To Regulate Crypto And Bitcoin

The first steps of a multi-stage plan to regulate the cryptocurrency industry within Australia have been released.

The Australian government has announced the first step of what it calls a multi-stage approach to tackling cryptocurrency regulation.

According to the announcement, “the multi‑stage approach has three elements: strengthening enforcement, bolstering consumer protection; and establishing a framework for reform.”

The first step begins with the Australian Securities & Investments Commission (ASIC) increasing the size of its crypto team and “upping enforcement measures.” These enforcement measures described include taking legal action when cryptocurrencies are marketed without appropriate financial licenses. In addition, the report describes that particular attention will be paid to making sure risks are properly disclosed to consumers.

These steps are intended to step up efforts targeting scams, especially those involving cryptocurrencies.

“The Government’s National Anti‑Scams Centre, located within the Australian Competition and Consumer Commission (ACCC), will facilitate real‑time data sharing and the coordinated prevention and disruption of scams,” reads the report, indicating that the collection of data will be a major part of the operations.

In addition to the steps announced today, the government introduced a token mapping consultation paper addressing “which elements of the crypto ecosystem are sufficiently regulated and which require additional attention.” The paper addresses Bitcoin specifically, describing it as a cryptocurrency network with the intent to operate as a “peer-to-peer payment structure,” as a “new form of currency.” In addition, the use cases of Bitcoin are illustrated, including its use as a store of value, and as a medium of exchange, “particularly in emerging markets.”

The Australian government's multi-stage approach to cryptocurrency regulation is designed to protect consumers while also providing oversight and regulatory clarity, but it remains to be seen if this regulatory environment will stifle growth and innovation, or fulfill its intended purpose while harboring growth. 

- BtcCasey
Bitcoin Miner Marathon Digital Sells BTC For First Time In Two Years

Despite the sale, Nasdaq-listed miner Marathon continues to hold one of the largest public bitcoin treasuries in the world.

Marathon Digital, a publicly traded bitcoin mining company, has announced the sale of bitcoin for the first time in two years.

“We intend to continue to sell a portion of our bitcoin holdings in 2023 to fund monthly operating costs,” Marathon’s monthly mining update reads. “Even with these sales, our unrestricted bitcoin holdings increased from 7,815 bitcoin as of December 31, 2022, to 8,090 bitcoin as of January 31, 2023, as our production improved and the appreciation in bitcoin’s price in January reduced the amount of bitcoin we had posted as collateral. Additionally, we ended the month with $133.8 million in unrestricted cash on hand.”

Marathon Digital has accrued one of the largest public bitcoin holdings in the industry, second only to Michael Saylor’s MicroStrategy. According to the firm’s update, the sale was not made out of any form of distress, but was a strategic financial move.

“In prior press releases and earnings calls, Marathon has indicated that the Company intends to sell a portion of its bitcoin holdings to cover operational expenses as production begins to ramp,” the update states. “With production improving, Marathon opted to sell 1,500 BTC during January 2023.”

Marathon, like other bitcoin miners, had to weather a 2022 that saw various industry challenges, from increasing electricity prices to widespread contagion that decimated the price of bitcoin.

Despite these challenges, the update explained the optimistic position of the company, saying, “As we look ahead, our focus for the year is to energize more miners and to optimize their performance. We remain confident in our ability to scale Marathon into one of the largest and most energy efficient Bitcoin mining operations globally by installing approximately 23 exahashes of computing power near the middle of 2023.”

- Austin Herbert
An Orange Pill For Bitcoiners

With Bitcoin still so early on its adoption curve, it seems that convicted Bitcoiners need an orange pill of their own.

This is an opinion editorial by Austin Herbert, a producer for “The Mark Moss Show.”

How do I know that Bitcoiners suck at orange pilling? Well… we are at .01% penetration. That's just one out of 10,000 people who have been convinced to become Bitcoiners.

Work done by @Croesus Source

The specific number is arbitrary. It could be .01% or it could be a whopping .05% adoption rate. The point is, we are ridiculously early.

Here’s summary of what the .01% adoption rate means:

Croesus puts us at 250,000 Bitcoin Maximalists out there, defined by holding 50% of net worth in bitcoin. This is measured out of 2.2 billion total people. Why? Because he only accounts for people with $10,000-plus net worths. We are talking about storing our wealth in bitcoin, not measuring the medium-of-exchange network.

250,000 divided by 2.2 billion equals .01%.

“Everyone gets the price they deserve,” right?

As Bitcoiners, we believe the old system is fundamentally broken. We have an opportunity to build a new system. A fair system. A system that will remain long after we are gone. But in order for our new system to work, we need to fund that system. We need to defund fiat. How do we do that? We give people the opportunity to vote with their money, to opt out. But they won’t vote with bitcoin until they understand Bitcoin.

This is my story, and this is how I believe we get the masses onto Bitcoin.

Origin Story

It’s been so long that I can’t even remember how I viewed the world before I was a Bitcoiner, which is a problem. It makes it extremely hard to see the world through a non-Bitcoiner’s perspective.

To me and you, everything can be related back to Bitcoin. It’s obvious. And I mean everything, just ask my ex-girlfriend.

Climate crisis? Bitcoin fixes that. Inflation crisis? Bitcoin fixes that. Food crisis? Bitcoin fixes that. Authoritarian crisis? Bitcoin fixes that. Shitcoin crisis? Bitcoin fixes that.

Honestly, when I reflect back on it, I can’t exactly put my finger on the moment I reached escape velocity. It feels like I’ve always thought this way. So, if I can’t crawl back out of the rabbit hole, where do I go next?

I try to tell as many people about my epiphany as possible. I truly believe that Bitcoin can fix everything and I want the people closest to me to see what I see. I don’t want to be the only one sailing into this blue ocean of opportunity after this system collapses.

But, this is what happened…

Force Pilling

I started with those people I cared about the most. My mother, my sister, my best friends, etc. and to a certain extent, this worked. This is what I call a “forced pill.” They listened to me make my pitch on Bitcoin and then they invested. It was in hindsight that I realized they invested money because they trusted me to make them money.

Some of these forced pills actually converted people around me to reach escape velocity and become part of the .01%. But this was definitely an anomaly.

Why? Because they don’t care about the movement. They treat bitcoin just like anything else in their portfolios.

This is why shitcoiners can get so many people into their tokens, they force-pill them. Some really good, scum-bag marketer gains said person's trust and then they sell them an “opportunity switch” (in layman’s terms, an opportunity switch is: “old doesn’t work, my new way does”).

To that said person, it sounds like an opportunity to make a lot of money. Bitcoin’s pitch doesn’t revolve around money. Well, Plan B’s stock-to-flow model did, but that actually worked, which is my point.

Just because my advice came from a place of morality and righteousness, that didn’t change the underlying dynamics. The only difference between me and that scum-bag marketer is that he had to gain that person's trust before he could sell them the “opportunity switch.”

Same-same... but different.

Source

If you’re going to keep force-pilling people, use the concept that fiat doesn’t work, but that Bitcoin will. And keep it that simple.

But that is not what this article is about. I wanted to get people into the .01%, to see what I see, to be a part of this new system.

The sad part is, those forced-pilling experiences were the good ones. Now, let’s talk about some experiences as I moved out the trust spectrum (I’m defining the trust spectrum as: spouse/parent to complete stranger).

Moving Across The Trust Spectrum

Bitcoin is such a complex topic. It was tough to even begin the orange-pilling process. Maybe I started with logic: “It’s a decentralized, peer-to-peer network— that no one can stop!”

Be honest. Has that ever worked? I lost them at the third word… “decentralized.”

What about something more vague and meme-like? For example; “Rules, not rulers!” Closer... they paused because it’s catchy.

We have a ton of catchy hooks in Bitcoin. But we are still at .01% adoption.

For instance, the catch phrase above one recently caught my eye when Mark Moss and I were recording with Uncle Marty at his studio in Austin, Texas.

“Alright, so what if we put them both together, logical and catchy,” you might think. “That’ll work…”

Let’s try it:

“It’s digital gold! It’s faster, more scarce, instantly portable, And more divisible. It solves every failure point that gold has. And it’s one tenth of the price!”

(Actually, at the time of this writing, bitcoin represents 3.5% of gold's market cap, according to Clark Moody.)

It doesn’t matter. Even that didn’t work… They did not join the .01% club just because I told them that.

But why not?!

It was extremely frustrating. No matter what I said, no matter how much sense I made, no matter how much supporting evidence I gave, it didn’t affect any change in behavior for the people around me, even in a world that is screaming my case at them.

They would listen to me talk about Bitcoin. Occasionally, Bitcoin would be in the mainstream news and they’d ask me about it. Some even ventured out and listened to a few recommended podcast episodes. But none of them could explain the Lightning Network. Or how to run a node. Or even describe what a node is. Self custody? Owning a hardware wallet? Hell, they didn’t even know that El Salvador made bitcoin legal tender… I got to the point where I didn’t want to talk to people about Bitcoin. I didn’t see the point anymore.

Here For The Movement

But, I keep coming to the same conclusion: We are here for this movement. We are here to build a parallel economy that will eventually take over the old fiat system.

I’m not a dev, I don’t have a large audience, I don’t have meetings with Jeff Bezos or presidents like Jack Ballers (no, that is not a typo).

One day, I came to this realization: I’m not the only one struggling transporting people into the new world. Cough, cough... .01%. We are all struggling to unplug people from the matrix. Hence, my motivation behind “An Orange Pill For Bitcoiners.”

This is my first and probably will be the last article I ever write. But I had this “ah ha” moment a few months back. I was at the gym.

By the way, here’s a picture of the water bottle I bring to the gym… Naturally, I have random people come up to me and ask about Bitcoin.

Most conversations there are just some flavor of the examples above. But recently, I met a Bitcoiner, a real Bitcoiner, an “escape velocity” type. He reminded me a lot of the character from “The Big Lebowski,” The Dude. We were talking and talking and he’s telling me about all his friends who are pensioners and successful finance guys, yada yada, but none of them would listen to him either.

I remember the conversation was for a full hour. The reason that I remember that was because the treadmills at my gym have a “cool-down phase” after 60 minutes. As we were talking, it obviously tripped me up when the tread stopped treading in the middle of the multisig setup chat. I kid you not, this is word-for-word what he said at the end of our conversation:

“You know what, man?”

(Sighs, looks up.)

“Man, you are exactly right. I never thought about it like that before.”

Note: He’s retired and has a boat in St. Pete, purchased with bitcoin gains.

A few weeks later, he came up to me and said, “I was thinking about what you said to me, Austin. I realized why I was able to ‘get’ Bitcoin so quickly.”

(His escape velocity moment was back in 2015, to put it into context.)

For The Dude At The Gym, it came down to this: It doesn’t matter if you have the perfect solution to every problem on the planet if that person you are trying to sell the solution to doesn’t know there is a problem to be solved.

Now, I wish it was that easy. If it were, we wouldn’t be at .01%. Remember The Dude At The Gym was already orange pilled. He just didn’t know why he could accept Bitcoin right away. Hang with me to the end, I’m going to attempt to show you why you can’t simply tell a no-coiner the problem.

Think about the “digital gold argument.” Gold is flawed, we know this. We know why it is flawed. We know the problem. But does that make a difference? The market says that doesn’t matter. Bitcoin is a massively better product. Yet it remains at 3.5% of the valuation of gold. This is why even the most eloquent, rational argument still does not move the needle.

Inception

If explaining the problem isn’t the answer and explaining the solution isn’t the answer, then what is the answer?

Inception.

Just like in the movie, you have to plant an idea in their head. You have to make them think they came up with the idea on their own.

From the very beginning of this article, I could have just said “stop screaming the solution to people who don’t know there is a problem.” I could have tweeted that out. Honestly, I might have put a similar thought out before. But would it have mattered? No. Most likely, it would have gotten, at best, 20 likes. Who would have liked it? Why would they like it? They liked it because they were already orange pilled and they could relate to the tweet. Would a no-coiner like that tweet? No. Of those people who liked the tweet, do you think that any of them would have changed their approach because of my tweet? No. If Michael Saylor himself tweeted that out and got 20,000 likes, would it have solved anything? No.

How do you solve this with inception? You make them experience it. They came to the conclusion. Not you. It was their idea, they found the problem. Then, and only then, will they start their journey to escape velocity.

In one sentence: Make the horse thirsty before you lead him to the water.

That’s the punchline.

Now compare that to the idea that you can lead the horse to water, but you can’t make him drink. I’m arguing that you can. You just have to incept him before he sees the solution.

This wasn’t an inception for the masses, it was for the already orange pilled. I’m defining “orange pill” as an expansion of awareness.

Let me explain: I didn’t start off this article by saying “Bitcoiners need to ‘x’ instead of ‘y.’” I told you what I have experienced, my problem, knowing that, most likely, you have had very similar experiences. My story triggered your thoughts on your past attempts. No-coiners hear the problem, they understand the problem; it’s just not their problem.

The goal was to plant the seeds that caused a reaction. What seed did I plant?

First seed: the title, “How To Orange Pill An Orange Piller.”

Why did you click on the article? Because, for some reason, you were curious about orange pilling. Why were you curious about orange pilling? Because you already knew of the problem, but it wasn't your problem.

This is essential.

Second seed: the story.

I told you my experiences so that you would think about your similar experiences and, therefore, the problem came from your perspective. I showed, rather than told, you.

Third seed: “The Wolf Of Wall Street” scene.

The scene broke down the barrier of internal disbelief. You can sell anything to anyone.

“But you just cherry picked that scenario.”

Fair enough, let’s change it.

Problem: Jordan Belfort challenged his friend, Brad, to, “sell me this pen.” What if Brad responded, “You will need this pen when the check comes.”

That should create urgency, no?

“Yeah, that would work. Right?”

If that was your thought, then it means you still think logic and reason will convince someone to react. The problem is, he told Belfort what his problem will be. You can’t tell someone they have a problem, they have to experience the problem.

In this example, it’s not Belfort’s problem. He doesn’t need to sign anything at that moment, so he actually doesn't have a problem. So, he doesn’t want the pen. Yes, logically he’ll need to sign the check. But remember, all of the examples from above… logic doesn’t matter.

Inception is the moment they start to believe they have a problem. That’s when their journey to escape velocity begins.

“Alright, wise guy, how do you sell the pen in the check scenario, then?”

You have to wait until the waiter brings the check out. Then, pull the pen out of your pocket. Now they have a problem, now it is time to sell the solution. There was a catalyst.

So there it is, inception. That’s how you orange pill a Bitcoiner.

This is a guest post by Austin Herbert. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

- BtcCasey
CleanSpark Mines Record 697 Bitcoin In January, A 50% Increase Since December

The bitcoin mining firm is reaping the rewards of expansion as it had a record month with solid reliability.

CleanSpark has reported that the firm mined a record 697 bitcoin in a single month, an increase of 50% from December 2022’s amount.

“We had a banner month, and not just because we mined a record number of bitcoin,” Zach Bradford, CEO of CleanSpark, said. “We also had our most reliable month ever, achieving 98% uptime across all of our sites.”

The company also reported that its bitcoin holdings were now at 301 BTC, an increase of 32% since December 2022. According to the report, “The Company funded growth and operations through the sale of 624 bitcoins in January 2023 at an average of approximately $19K per BTC. Sales of BTC equated to proceeds of approximately $11.9 million.”

CleanSpark currently has a fleet of approximately 66,000 latest-generation bitcoin miners with a hash rate of 6.6 EH/s, an increase of 7% from December 2022 and up 214% from January 2022 respectively. Just last month, CleanSpark reported breaking ground on its newest bitcoin mining facility, a planned 50 MW expansion in Washington, Georgia.

However, the company has not gone without its challenges, as it faces an investor lawsuit, and most recently, a law firm investigation into the officers and directors of the company. The latest motion to dismiss that lawsuit was denied in court.

Despite these developments, the company is continuing to move forward with its expansion plans, and is seemingly optimistic about its future prospects in the bitcoin mining industry. Isaac Holyoak, CleanSpark's chief communications officer, commented to Bitcoin Magazine that "This is a frivolous lawsuit and we will continue to vigorously defend ourselves."

Article updated February 2 to include comments from CleanSpark.

- Zack Voell
Bear Market Setbacks Have Left Bitcoin Miners Behind Their Gold Counterparts

Digital gold mining companies suffered harsher drawdowns than their legacy counterparts in 2022.

Bitcoin’s prominent memetic narrative as “digital gold” begs a comparison to the real yellow metal. But since the advent of Bitcoin, comparative perspectives of the mining sectors underlying both assets are too often missing.

In May 2022, this author published data on the gold/bitcoin mining contrast as digital gold producers were significantly underperforming ore miners. Now, the time seems right to provide a follow-up overview of some recent market data for bitcoin and gold miners.

The past year of unpredictable economic tumult and bear market financial brutality have highlighted a few important idiosyncrasies between gold and its blockchain-based counterpart. In the following paragraphs, data will underscore similarities and differences between the two “mining” industries. In ways that aren’t often revealed by Twitter banter, miners of gold and bitcoin have plenty in common.

Inside Bitcoin And Gold Mining Market Data

Bitcoin bulls should sit down before continuing to read this section. Peter Schiff will be euphoric.

2022 wasn’t an easy year for anybody, but bitcoin miners suffered especially-difficult market conditions. Compared to bitcoin miners, gold mining stocks had a fairly easy year. A select group of public gold and bitcoin mining companies are represented in the bar chart below. Percentage-based yearly performances from 2022 for all companies are visualized in the chart.

Measured in percentage drops from all-time highs, gold wins again. (Go ahead and laugh, Schiff.) At the time of writing, gold is roughly 7% off its record high — nearly the same price as in May when this author last wrote about gold and bitcoin miners. Meanwhile, digital gold is trading more than 65% lower than its high point, reached in late 2021.

But bitcoin being outperformed by gold isn’t the historical norm. Throughout 2021, bitcoin and its mining companies enjoyed a strong and prolonged uptrend. Gold and gold miners lagged significantly over the same period.

And the honey badger should never be counted out.

Bear Market Mining Brutality

Regardless of how gold miners performed, the past year was arguably the most difficult bear market period in Bitcoin’s history. So, underperforming gold (or any other asset) is hardly a surprise.

The following is a brief synopsis of what bitcoin miners survived last year that led to, among other things, underperforming yellow-metal-ore miners.

For public mining companies, potential delisting notices from stock exchanges were all too common. In August 2022, BIT Mining received a notice from the New York Stock Exchange (NYSE) about potential delisting due to minimum price standards. The same month, Mawson received a notice of potential delisting for the same reason. In October 2022, Digithost received the same notice of potential delisting, as reported by The Block. Greenidge Generation received a notice of potential delisting in the middle of December 2022. Bitfarms received a similar notice one day after Greenidge for the same reasons. And Canaan, a Nasdaq-listed mining hardware manufacturer, also received notice of potential delisting because it used an auditor whose work can’t be inspected by the U.S. audit regulator.

Mining executives also left in droves — voluntarily or otherwise. Dave Perrill, former CEO of Compute North, resigned in September 2022. Jeffrey Kirt, who led Greenidge Generation since 2021, abruptly resigned in early October 2022. Whitney Gibbs, who co-founded Compass Mining, also abruptly resigned amid “setbacks and disappointments” in July 2022. Emiliano Grodzki, who co-founded Bitfarms in 2017, announced his resignation three days before the end of 2022.

Mining bankruptcies made headlines every month last year. Compute North filed for bankruptcy in September 2022. Seven months before bankruptcy, the company raised $385 million. Core Scientific, the largest publicly-traded bitcoin mining company, also filed for bankruptcy a few days before Christmas. Celsius, a prominent crypto lending platform, also saw its sizable mining unit go bankrupt just months after the team announced its plans to go public. BlockFi was another prominent crypto lending service that maintained a sizable mining unit and has filed for bankruptcy. Bloomberg reported that Marathon disclosed over $80 million of exposure to now-bankrupted Compute North. Argo accidentally posted fully-prepared bankruptcy filings on its website before a $100 million deal with Galaxy Digital’s mining team helped Argo avoid “real” bankruptcy.

And lots of mining lawsuits were filed. Blockware was sued. Iris Energy faced a class-action lawsuit. Tennessee’s Washington County sued BrightRidge, a local mining utility. Riot sued Northern Data. Whinstone, Riot’s flagship mining subsidiary, counter-sued Japan’s CMO Internet in a four-year ongoing dispute. And Core Scientific was sued.

Suffice to say, whichever mining teams survived the past year are likely to survive anything.

Darkest Before The Dawn?

Given the market conditions in the bitcoin mining sector last year, it would be a shock to any investor if bitcoin miners outperformed their gold counterparts. But does one year of underperformance affect Bitcoin’s long-term potential? Clearly not. The utility of this comparison only serves as additional context for the ongoing expectation that digital gold will gradually but steadily absorb the market capitalization of physical gold.

Bitcoin is as volatile as it is valuable, however. Even in January, bitcoin mining companies are roaring back as the price of bitcoin itself rallies. Now all miners are hoping last year was the “darkest” and soon will be the “dawn.”

This is a guest post by Zack Voell. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

- Shinobi
Nostr Will Only Scale If It Can Incentivize Users To Run Relays

Nostr, a growing hub for the Bitcoin community, faces some incentives challenges if it’s going to reach significant scale.

This is an opinion editorial by Shinobi, a self-taught educator in the Bitcoin space and tech-oriented Bitcoin podcast host.

I’ve written an article on the basics of what Nostr is and what “events” are and how they work, as well as one on some of the key management issues that the platform is going to have to solve. Now, let's go through some of the issues that relay servers are going to have to address going forward in the long term.

The entire Nostr protocol depends on people somewhere running a relay server. There is no "Nostr network," there are only relays and clients that connect to relays. There need to be incentives for people to run relays, and in the long run, that is ultimately going to be a huge part of how far relays can scale. There will never be Nostr relays at the same scale as Twitter servers unless they can be operated profitably or, at the very least, bring in enough money to pay for the costs of running themselves.

Advertising

Advertising would be very trivial to completely block, making it a non-viable solution, given how Nostr works as a protocol. A relay server could try and use advertising as a revenue model, it's obviously the dominant revenue model for pretty much every free service there is online, but the problem with that is that users would essentially have to opt into it. Relays could easily just inject advertisements into the events that they send to clients, but clients could also just easily filter those out of the user interface if the advertisement events were not created by a public key they have intentionally subscribed to.

Even if a relay operator produced a client that did not do that, there is no way to stop users from utilizing other clients that did from fetching data from their relay. They wouldn't even really know whether someone's client was hiding ads from the users or not, and because of that lack of insight, this model is pretty much dead on arrival unless users intentionally opted into it. And even then, the relay operator wouldn't have a sound basis to show anything about the level of engagement to advertisers.

Micropayments

Micropayments is another obvious solution, especially given the current attempts to integrate Lightning more tightly into Nostr applications. This model would offer a lot of flexibility in terms of how to charge. Relays could charge for just posting events there, they could charge for downloading events to read, they could do a combination of both and adjust the price of each one depending on how much of their resources were consumed by one or the other. I'm kind of skeptical personally, though, that this model could scale to the size of something like Twitter. Content micropayments are showing themselves viable in many niche things built on Lightning, but there are two fundamental problems with that really scaling to a global size.

First, there just isn't enough Bitcoin adoption currently for that. Even if everyone would magically become okay with paying for every little service interaction over Nostr, there aren't enough people holding bitcoin to support it at such a massive scale as Twitter. Relays could charge subscriptions through fiat, but those payment rails aren't going to support a fraction of a cent payment for each posted or downloaded event. Secondly, people have literally grown up used to services like this being free. It's just what people expect. Micropayments alone I don't think will really cut it to support relays at huge scale either.

There could be a way to make micropayments "stickier" or more sustainable without imposing them on literally every class of user utilizing your relay. There has been a lot of discussion of building all kinds of applications on top of Nostr besides a Twitter clone: GitHub, Wikipedia, even decentralized gig-worker apps like Uber. That last one is the key here. Something like Twitter or Google is just a service that people have gone their entire lives taking for granted as being free. Economic trade is not a place where those assumptions are deeply ingrained in them. People are very accustomed to paying a fee to post a job advertisement somewhere, or paying a cut to a marketplace operator when they order something online. They just assume and expect it from the outset. This could offer relays a way to create a reliable backbone of income from their users without creating a large amount of friction or breaking the expectations of the average potential user.

If micropayments are going to be a factor as well, then the relay operator is going to have to run a Lightning node in order to receive funds from users in the first place. This could potentially amplify that revenue if properly synergized with whatever micropayment model a relay implemented. The bigger a relay server is in terms of the revenue it's drawing in, the more liquidity it's going to need on the Lightning Network to facilitate that. If operators properly plan how they deploy or allocate that liquidity across the network, then simply the act of running a routing node could potentially be a not-insignificant revenue stream in its own right in addition to whatever they charge to accept or deliver data through their relay.

Can Nostr Scale Relays?

Even gluing all of these together though, can these different revenue models support a Twitter-scale relay? Maybe a gig-work relay could, but wouldn't its rational move be to specialize in only those types of events? What about other use cases, like social media? Maybe an individual relay operating at that scale for certain use cases of Nostr will just not be economically viable. The basic structure of the protocol was done in a very simple way so that it can't be easily censored or have its events contents tampered with in a non-evident way. That structure comes with overhead, though.

That doesn't fundamentally break Nostr at all if it winds up being true. After all, clients can connect to whatever relays they want. Clients aren't married to any individual relay, they can grab events from dozens of relays at a time. Events stored at one relay can even point to events stored at totally different relays. The protocol can still work for any use case in practice, even if individual relay servers have hard limits that they can't scale beyond in terms of user counts or the number of events they are storing and serving.

However… this dynamic does raise issues itself in how to index and track all that data scattered all over different servers. Do you have a complete view of a series of events referencing each other? Is something missing?

A distributed web of smaller relays will run into scaling challenges just as a single relay trying to be massive will. But I'll save that one for another time.

This is a guest post by Shinobi. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

- BtcCasey
LevelField Financial To Become First FDIC-Insured Bank to Offer Traditional Banking And Bitcoin Services

LevelField Financial is set to acquire Burling Bank in a move that would enable access to bitcoin for traditional banking customers.

Once the acquisition is approved by regulatory authorities, LevelField Financial will be able to expand its services and products nationwide.The firm would offer customers a full suite of products and services, from traditional banking services to digital asset services, all within an FDIC-insured institution.LevelField Financial will also benefit from the expertise of the senior management team of Burling Bank, which will join the LevelField Financial leadership team.

LevelField Financial, a U.S. financial firm that offers digital asset services, has announced the acquisition of Burling Bank, an FDIC-insured Illinois state chartered bank.

The $50 million deal will make LevelField the first FDIC-insured fully compliant finance entity that handles bitcoin, per the announcement. Once the acquisition is complete, the bank plans to offer bitcoin buying, custody and borrowing to clients, on top of enabling them to get paid in BTC. The firm will also offer a bitcoin rewards debit and credit card.

Chicago-based Burling Bank currently provides traditional financial services to customers along with professional trading services. Their acquisition is part of LevelField Financial’s bid to expand nationwide, with the senior management team of Burling to join the leadership of LevelField.

"We conducted a broad review of banks in the U.S. to find the ideal institution with both an existing business and a management team who are aligned with our vision; we exceeded our expectations with Burling Bank. With this acquisition, LevelField will become a traditional bank, albeit one serving customers interested in the digital asset class," said Gene A. Grant II, CEO of LevelField Financial.

The firm will continue to offer retail banking and traditional services alongside products that appeal to customers interested in digital assets.

The acquisition is still subject to the approval of the relevant regulatory authorities, and if approved, is expected to close sometime later this year. 

- BtcCasey
U.K. Details Plan To Regulate Bitcoin, Cryptocurrency Industry

The United Kingdom has released its first consultation on crypto trading and lending regulation within the country.

The United Kingdom has released its plans to regulate the cryptocurrency industry within the country.

The announcement highlights that “high levels of volatility and a number of recent failures have exposed the structural vulnerability of some business models in the sector,” amongst other reasons, have led to the new set of regulatory guidelines.

Specifically focusing on trading and lending, the report describes how the United Kingdom’s government “will seek to regulate a broad suite of cryptoasset activities, consistent with its approach to traditional finance.” It details how proposals will place responsibility on the cryptocurrency exchanges and firms to define detailed content requirements for disclosure documents, ensuring “fair” standards. In order to ensure the safety of customer funds, the consultation will seek to create a framework with clear guidelines for responsible practices.

“We remain steadfast in our commitment to grow the economy and enable technological change and innovation – and this includes cryptoasset technology,” Economic Secretary to the Treasury Andrew Griffith remarked.

The consultation also highlighted the necessity for cryptocurrency custodial actors and intermediaries to responsibly facilitate transactions and safely store customer assets. This is especially important in light of recent events throughout the cryptocurrency space that have left millions of customers without access to their funds.

Today’s consultation will conclude on April 30, 2023, after which the government will consider feedback and create a response. “Once legislation is laid, the Financial Conduct Authority will consult on its detailed rules for the sector,” states the announcement. 

- BtcCasey
South African Retail Giant Pick-n-Pay Now Accepts Bitcoin Payments At All Locations

Pick n Pay has partnered with CryptoQR in order to accept bitcoin at more than 2,000 stores.

Pick n Pay, a South African retailer, has launched acceptance of bitcoin for payments throughout all of their stores. Previously, a test pilot had rolled out to 39 stores in November 2022. Now, all stores under the Pick n Pay brand will allow customers to use CryptoQR to buy their groceries using bitcoin, according to an announcement by the payments platform on Twitter.

Customers will also be able to “buy airtime and electricity, plane and bus tickets, and pay your municipal bills with Bitcoin at the till!” according to the tweet.

Increasing usage at larger retailers like Pick n Pay introduces the concept of spending bitcoin as opposed to selling it for usability to new users of bitcoin. By allowing people to spend their BTC, the line between setting aside money for bitcoin and simply utilizing bitcoin as your money is blurred. The prior launch of the pilot noted that Pick n Pay will charge a small service fee for payments in BTC, “costing the customer on average 70c” of the local currency, or about $0.04 as of November 2022.

Pick n Pay has almost 2,000 stores across the country, Business Insider South Africa reported. The firm has a 16% market share of the country's formal food and grocery sector, per the report.

The introduction of bitcoin to Pick n Pay's stores is likely to have a significant impact on the broader bitcoin payments landscape in South Africa. It could bring the concept of using bitcoin as a form of payment to a wider audience, potentially stimulating more widespread adoption of bitcoin usage. Furthermore, it could inspire other major retailers to follow suit, further increasing the acceptance and usage of bitcoin as a payment method. This could be a major step forward in the wider adoption of bitcoin payments.

- BtcCasey
Luxor Technologies Launches The First Bitcoin Mining ASIC Request-for-Quote Platform

Luxor has launched the first ever ASIC RFQ platform with the goal of maximized market transparency and access.

Luxor has launched the first ever ASIC RFQ platform with the goal of maximized market transparency and access.

Luxor Technologies, a full-stack Bitcoin mining software and services company, has launched the first request-for-quote (RFQ) platform for buying and selling Bitcoin mining hardware.

The press release sent to Bitcoin Magazine describes what an RFQ platform is, saying “An RFQ is a marketplace where users can create orders (requests) for specific items. Luxor’s double-sided RFQ allows both buyers and sellers to create requests for Bitcoin mining ASICs.”

The idea is that it will create a more liquid and easy to use marketplace for ASICs — specialized machines specifically built to mine bitcoin. According to the release, “Using an open-bid system, ASIC traders can place requests and negotiate prices directly, improving price discovery and increasing liquidity in the secondary market.”

Prior to this market, ASIC traders have struggled with a fragmented and opaque over-the-counter market. This system will theoretically improve the transparency of the market, while allowing for easier access and more precise market pricing. ASIC brokers will form the backbone of market makers on the platform, and they will be able to leverage it to increase their deal flow and facilitate more transactions.

“We built Luxor RFQ because we saw the need for a unified platform for trading Bitcoin mining hardware,” Luxor Operations Manager Lauren Lin commented. “Before, buyers and sellers relied on a patchwork of venues to buy and sell mining hardware. Now, they can observe offers, listings, and settlement prices all in one place, which improves pricing transparency and expedites the mining hardware procurement process.”

The RFQ platform will offer major flexibility to buyers, allowing them to specify orders by quantity, condition, model type, location and more. In addition to this, sellers will be able to mix-and-match models from different manufacturers in their orders. The platform’s auction-style bidding process will benefit sellers and brokers.

Luxor states that it is committed to transparency, saying that “Platform fees are transparent and volume based so that market makers can transact in a larger, more profitable way.”.

Bitcoiners interested in learning more about Luxor’s RFQ, can visit the RFQ website or contact the company at: sales@luxor.tech.

- Kroum Kroumov
Can Artificial Intelligence Make The Bitcoin Rabbit Hole Easier To Explore?

As artificial intelligence tools become more powerful and accessible, can they help more people get a grasp on Bitcoin?

This is an opinion editorial by Kroum Kroumov, a writer and editor with Bitcoin-focused venture design studio Peak Shift Ltd.

Bitcoin innovation is snowballing, with new projects being released every month. As excited as I am about this boom, I have to admit that it’s overwhelming to keep pace. But there’s even more to be thrilled about in tech besides Bitcoin. More specifically, the release of the AI language model ChatGPT has already revolutionized research.

The potential of combining Bitcoin along with AI research got me thinking right away: Is the information that AI provides accurate? Are the sources relevant? Can AI keep up with the rapid development of Bitcoin and the Lightning Network?

In this article, I will explore the benefits and limitations of using AI when researching Bitcoin, drawing on my personal experience by highlighting the pluses as well as the minuses. Let’s get into what I discovered!

Research Simplified By AI

Artificial intelligence has changed the way we do research. I find this exciting, as it has the potential to onboard a plethora of people to Bitcoin through accessibility of information. AI algorithms sift through large amounts of data, automatically identify the most useful information and return it to you in clear and comprehensible language. This saves time and effort when looking for resources.

We have all experienced the agony of rummaging through blog posts and random articles, and we know how time consuming and confusing it can get. I remember the steep learning curve that I had to go through when first encountering Bitcoin. Why didn’t I have AI to just bullet point it all for me by simply asking it a few questions?

In this way, AI can make general information about Bitcoin easier to understand and it can do so in almost any language. You can even ask it to clarify further and further! The result will be that the infamous learning curve of Bitcoin will become easier to understand for anyone, anywhere. With ease of understanding, we get wider adoption.

Organizing Information

One of AI’s most distinguishing features is its ability to organize information in seconds. With the vast and growing amount of data already available about Bitcoin and Lightning, there couldn’t be a more helpful tool than one that can put the information together. I’ll admit that AI is now my 24-hour personal assistant. It’s knowledgeable, fast and can spin text around anyway I ask it to. Yes, it can even give you sailor and Shakespearean talk.

AI organizes and categorizes information, making it easier for users to find what they need, while presenting it how they want it presented. Some ways that we can do this is by asking the AI to extract the main points from a text, to create a study plan, to simplify the language, to translate, to clarify, to bullet-point an article, and the list goes on.

Organization and sorting are especially useful for researchers, investors, entrepreneurs, journalists, students and general learners who are trying to understand any aspect of the Bitcoin or the Lightning Network. For example, we can ask it to give us a list of resources and to prioritize them based on our importance criteria.

Limitations Of AI research

Despite the benefits, there are major limitations to consider when using AI for researching the Bitcoin network in 2023. One limitation is that insights provided by AI-powered tools may be less accurate or factually reliable than those of more traditional research methods. This is because ChatGPT’s knowledge is limited to data up to 2021, and does not reflect more recent developments in Bitcoin or the Lightning Network. Lightning especially is undergoing a development boom with the rapid changes in technology and available tools. Just look at some of the recent Lightning hackathons that have taken place. Therefore, the AI timeframe limitation is a serious factor to consider.

Taking into consideration builder events like hackathons, the development of Bitcoin and Lightning is very rapid. Even enthusiasts have trouble keeping up. There are developers working on Bitcoin all over the world and new resources and information are becoming available all the time. This rapid growth makes it difficult for AI systems to keep up, and anyone looking for current data and trends will need to look elsewhere.

Another limitation affecting AI is the open-source nature of Bitcoin and Lightning. AI has limited knowledge of independent, newly-hatched resources. Therefore, information provided by AI-powered tools will be more general and may not cover niche innovation within the network.

And another thing that’s missing is the lack of on-the-fly data. Getting a current, comprehensive picture of the network is not possible at this stage with AI. For investors and entrepreneurs, up-to-date and on-the-fly data are crucial. Fortunately, there are resources and tools outside of AI models that give live data for research. For visual and live Lightning Network research with graphs, maps and charts, you can try platforms like The Lightning Network Explorer or Amboss.

Faulty Information

From my research using AI, I found that there was false information coming in. This can be tricky. On first glance, the content might look great, but if you are an expert in the field, you will quickly see holes inside the text. This is why we still need a human that can fact check anything coming in from AI.

For example, when I asked ChatGPT for Lightning resources, it gave me a list, but I could not find all of the resources listed when I ran a Google search, which made me wonder whether some of these resources existed at all. Therefore, in 2023, this is another reason we need the human touch. We just can’t fully trust you yet, AI.

AI Is Promising, But There Is Work To Be Done

In summary, AI helps us research Bitcoin by providing general information, broadening learning opportunities, translating, explaining and organizing information. But the limitations of AI include limited resources, lack of data about smaller projects, unverified information and faulty resources

The extremely rapid development of Bitcoin and Lightning projects is something that AI can’t keep up with because of its 2021 limit, AI has limited knowledge of independent niche innovation and live Bitcoin and Lightning Network data exploration is another area lacking in AI.

Ultimately, while AI simplifies research, it’s limited to more general information because it lacks up-to-date data on newer or lesser-known industry releases. Plus, as we stand, AI is restricted to information only up to 2021.

When diving into Bitcoin research, I recommend starting with AI and moving on to more Bitcoin-specific tools for network exploration. Even using something like Wikipedia to double check the information, in case you know little about Bitcoin, will be helpful.

Overall, use AI to organize and explain your information and to familiarize yourself with general and broader topics. For anything deeper than the “what” and the “when” questions, pay more attention and use up-to-date and verified sources. By using AI with some caution, you’ll reach your goals faster and more efficiently in 2023 and beyond.

This is a guest post by Kroum Kroumov. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

- Namcios
Decentralized ‘Twitter Killer’ Nostr Goes Live On Apple’s App Store

Nostr, an open protocol that promises to substitute centrally-controlled social networks such as Twitter, is now live on the Apple App Store with Damus.

Decentralized social networking protocol Nostr is now officially live on Apple’s app store.

Nostr spiked in popularity after former Twitter CEO Jack Dorsey became an enthusiast of the technology, later making a 14 bitcoin donation to its creator. The enthusiasm caused the protocol’s most popular mobile app, Damus, to hit its beta testing limit of 10,000 users –– which would prompt its developers to apply for a formal listing on Apple’s app store. Today, Damus was approved, and a full release is now available on the App Store for anyone to download.

Dorsey took to Twitter to comment on the news, saying the launch was "a milestone for open protocols."

Nostr, an acronym for Notes and Other Stuff Transmitted by Relays, is, at its core, exactly that. Users create an account purely by generating a key pair –– one public and one private key –– through a client application. The public key is the user’s "ID" on the protocol, while the private key is akin to the user’s password. The user can broadcast a message to the protocol by connecting to a relay and signing the message with their private key. Anyone can message a specific user by referring to their public key. Leveraging asymmetric cryptography, users can message each other privately by encrypting their message with the destination user’s public key, which ensures only the private key corresponding to that public key can decrypt the message.

This dynamic is similar to Bitcoin. A Bitcoin transaction ensures, also through asymmetric encryption, that only the rightful recipient can "decrypt" the received funds –– aka spend them in a future transaction. Bitcoin has since evolved from the simple send-to-public-key dynamic used by Nostr, but the core of the idea is still there.

Nostr is still a niche project, as the protocol is very much in its infancy. Bitcoin, which is now 14 years old, is yet to be adopted globally, and Nostr has but a fraction of that established history. Nevertheless, the technology is promising, given it’s an open, censorship-resistant and permissionless communications protocol. With Damus’ listing on the App Store, Nostr can now reach much more people than previously possible.

- Dylan LeClair
No Policy Pivot In Sight: “Higher For Longer” Rates On The Horizon

The market is nearly unanimous in expecting a 0.25% rate hike during February's FOMC meeting, yet many expect a “pause” shortly thereafter. We beg to differ.

The below is an excerpt from a recent edition of Bitcoin Magazine PRO, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

The next FOMC meeting is on February 1, where the Federal Reserve will determine their next policy decision regarding interest rates. This article covers how the market expects the Fed to respond, what readers should watch for regarding changes in the expected path and the potential second-order effects of said changes.

The current expectation is an interest rate hike of +0.25%, with the market assigning a near 100% certainty of this outcome, setting the policy rate to 4.5%-4.75%.

Source: CME FedWatch Tool 

The Fed’s expected course for 2023 is to keep rates elevated, with several Fed Governors recently stressing the need to keep policy rates sufficiently restrictive in order to make sure inflation does not stage a comeback after initial signs of slowing, like it did in the 1970s. 

Source: CME FedWatch Tool Source: CME FedWatch Tool 

In Jerome Powell’s December 14 press conference, he said the following (emphasis added): 

“So, as I mentioned, it is important that overall financial conditions continue to reflect the policy restraint that we’re putting in place to bring inflation down to 2 percent. We think that financial conditions have tightened significantly in the past year. But our policy actions work through financial conditions. And those, in turn, affect economic activity, the labor market, and inflation. So what we control is our policy moves in the communications that we make. Financial conditions both anticipate, and react to, our actions.

“I would add that our focus is not on short-term moves, but on persistent moves. And many, many things, of course, move financial conditions over time. I would say it’s our judgment today that we’re not at a sufficiently restrictive policy stance yet, which is why we say that we would expect that ongoing hikes would be appropriate.” 

Pricing In The Transitory Inflation

Global risk assets have been in rally mode to start the year, as market participants increasingly expect the inflationary scare that rattled financial assets in 2022 to abate in 2023 and beyond. While the optimistic expectations for abating inflation would certainly be bullish for risk-assets — given that it would lead to the return of lower interest rates — one would be wise to keep in mind the frivolous nature of inflation forecasting from the Fed, as shown below. A return to the 2% target is nearly always the expectation. 

Source: Robin Brooks 

With inflation abating and policy rates staying elevated, the market believes that a “sufficiently restrictive” policy will manifest in 2023, with 1.31% worth of cuts coming in 2024. 

Expected rate cuts in 2024 priced by the market

Once inflation becomes entrenched into consumer expectations and labor markets, history has shown that it takes a monumental effort from central banks tightening policy rates in order to squash the inflation.

As noted by Liz Ann Sonders of Charles Schwab, the 6-month change in inflation expectations is the largest it’s been since 2011, an indication that monetary tightening has begun to work its way into the real economy. 

Source: Liz Ann Sonders 

With a rate hike of 25 basis points all but confirmed tomorrow, the market will pay close attention to the content and tone of Chairman Powell’s speech in regards to the future path of policy rates. We believe that “higher for longer” is a tone that the Fed will continue to communicate with the market.

However, on a long enough timeline, the inevitable outcome is clear. Just ask the U.S. Treasury for their projections…

Source: U.S. Treasury

Update: The Fed announced the expected rate hike of 0.25% with the key sentence in the press release being,

"The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time." 

Readers should note the plural form of "ongoing increases." It looks like rates will be higher for longer as we predicted.

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Relevant Articles:BM Pro Market Dashboard Release!On-Chain Data Shows 'Potential Bottom' For Bitcoin But Macro Headwinds RemainThe Everything Bubble: Markets At A CrossroadsNot Your Average Recession: Unwinding The Largest Financial Bubble In HistoryTake A Hike: Fed Lags Miles Behind The Curve On FOMC Eve
- BtcCasey
Ordinals Project Launches Enabling NFTs Directly On Bitcoin

The controversial project has been met with equal parts excitement and criticism in regards to its impacts on Bitcoin.

A project called Ordinals has launched on the Bitcoin blockchain, effectively enabling Bitcoin-native on-chain NFTs. 

Led by former Bitcoin Core contributor Casey Rodarmor, the protocol is a convention for numbering and transferring individual satoshis on the Bitcoin network.

Ord, a specific implementation of Ordinals, “is a wallet and explorer that allows tracking the location of specific satoshis and their ordinal numbers - assigned by the Ordinals protocol - as well viewing, creating, and transferring inscriptions, that is, individual satoshis inscribed with arbitrary content,” the press release sent to Bitcoin Magazine states.

The introduction of Ord and inscriptions brings NFTs to Bitcoin, allowing content, such as images, videos and HTML to be included in a Bitcoin transaction and assigned to an individual satoshi.

“Inscriptions, using the ordinals protocol, are fully on-chain, and do not require a sidechain or separate token,” the release reads. “Inscriptions inherit the simplicity, immutability, security, and durability of Bitcoin itself.”

Since its release, the project has attracted a great amount of debate in regards to the impact of ordinals and inscriptions on Bitcoin. Supporters of Ordinals, like Dan Held, describe it as a net benefit for Bitcoin, saying, “It brings more financial use cases to Bitcoin, and drives more demand for block space (aka fees).”

Meanwhile, critics of Ordinals like Blockstream CEO and long-time Bitcoiner Adam Back explained that “Bitcoin is designed to be censor resistant. This doesn't stop us mildly commenting on the sheer waste and stupidity of an encoding. At least do something efficient.”

Ongoing debate seems to stem from discussions in regards to the potential usage of block space and increase in bandwidth necessary to run nodes as a result of inscriptions. Regardless of the debate, “the Ordinals project continues unphased,” reads the press release, “with contributors continuing to add new features, such as provenance, collections, composability and a decentralized marketplace.”

Ordinals and inscriptions could prove to be an interesting catalyst for Bitcoiners to re-examine the social dynamics that shape Bitcoin development. While the positive or negative impacts of ordinals specifically may be up for debate, renewed interest in how projects and technical implementations are built on Bitcoin is a healthy sign for the network. 

- Jimmy Song
Fiat Ruins Work But Bitcoin Rewards Those Who Add Value

How have Big Tech companies laid off so many with no consequences to their operations? Because fiat incentivizes meaningless rent seeking.

This is an opinion editorial by Jimmy Song, a Bitcoin developer, educator and entrepreneur and programmer with over 20 years of experience.

We need work and work needs us.

Labor is what takes a harsh, brutist and difficult world and turns it into a livable, enjoyable and even meaningful place. Work is how we contribute to our civilization, our communities and, of course, our families. Work in a normal, functioning market provides value.

Work, in a very real sense, is what we contribute to civilization. The output of our labor is a legacy we leave behind. Our collective work is what builds everything around us, from the buildings we live in, to the roads that we travel on, the computers we type on, the electricity that we use, and pretty much everything else.

Yet this very basic equation of work — productive labor in return for money — is not working that well. You can see this in the massive layoffs that are currently happening all over the economy, particularly in tech. What is going on? How is it that tens of thousands of people in different companies can be let go and things still function? What were they all doing? Making inane TikTok videos?

In this article, I'm going to answer those questions and place the blame where it belongs. As usual, it's fiat money's fault.

Work Lets You Specialize

Markets work because people are willing to pay for goods and services they find valuable. Someone pays because it would cost them more in some way otherwise, say in convenience, quality, price or something else. Money, or the common medium of exchange that we all employ, allows us to specialize and do what we're good at.

A fisherman can catch lots of fish, far more than he can eat. A cobbler can make shoes, far more than he can wear. But through trade, they can leverage their own skills to get everything they want and need. This is why fishermen are not making their own shoes and cobblers are not catching their own fish.

Civilization gets built because of this specialization of work. And, in a sense, everyone optimizes for value provided per time worked while minimizing the unpleasantness of the task. More colloquially, we try to make the most money we can while doing things that we dread the least.

This last point is important because there are things that pay very well, but people are loath to do, like collecting garbage or truck driving, which can offer a better per-hour rate than other tasks but with unpleasantness that keeps many away. The price of labor goes up to compensate for its unpleasantness. Similarly, rare skills are compensated better because fewer people can do them. Labor is like any good in the market, where the usefulness of what you produce and its relative rarity determine price. The people that make the most money should be the ones doing the work that’s most difficult and/or least desirable to do.

Clearly, something is wrong because many high paying jobs are definitely not that difficult (think tanks, administration, etc.) and many are very desirable (board member, venture capitalist, investment banker.) There’s something about our economic system that rewards the wrong things.

Fiat Adds Meaningless Work

Fiat money throws a wrench into a beautifully efficient market by adding another buyer. By creating money out of nothing, fiat money allows governments to create all sorts of work that does not add value. These are what we call rent-seeking jobs.

Money in a normal market pays for value provided. Inefficiencies are punished through less profit or even loss. Labor, therefore, has to create value. But in a fiat economy, there’s another buyer, who’s not particularly price-sensitive, the money printer. Generally, the people in power buy conspicuous consumption, national prestige, make-work jobs, bribes to loyalists and so on. These add less value than Roger Ver.

For the money printers, labor isn't connected to creating value anymore, but to satisfying their desires, usually to maintain power. In a democracy, the money printers might spend to create valueless jobs, like the proverbial digging and filling back in of a ditch. In a military dictatorship, the money printers might spend more money on buying votes and paying for weapons or even social programs. Even jobs in such a government can be a thin veneer for bribes and nepotism. The money gets printed and used to staying in power and not creating value for anyone.

As the money printer in a fiat economy becomes a large customer of everything in the economy, almost all work gets mingled with fiat rent seeking. Work that's valuable gets mixed with work that's not. The further along the money printing path we get, the harder it is to disentangle what provides value and what doesn't, what's beneficial to civilization and what's not. Rent-seeking has spread like fungus on an old sandwich.

For example, many large companies have human resources departments that specialize just in employment compliance. In typical bureaucratic fashion, each employee has to complete cringe-worthy training, whether they be on sexual harassment, race discrimination, interview questions that are allowed to be asked and so on. These are almost certainly unrelated to the business they're in but nevertheless each new employee is forced to waste valuable time on them. These compliance requirements may not be monetary taxes, but they are time taxes. As such, our labor gets split between productive and non-productive work. In the last 50 years, the non-productive part has grown so much that entire positions are non-productive, even in very profitable companies.

Is it any wonder, then, that Twitter, Google, Facebook, Microsoft and many other profitable companies can lay off so many people and have everything run just fine? Layoffs are the equivalent of chemotherapy, surely hurting the companies that do them, but also excising the cancer underneath.

Fiat Friction

The blight of rent seeking slows down the economy, the same way a flat tire does to a car. Fiat money’s ubiquitous entanglement with politics is one of the many ways in which productive work gets slowed down, adding less value. The work that people strive for is not in providing value, but in becoming middlemen to valuable transactions. They slash tires and inconvenience everyone so they can sell more tires.

As a result, in a fiat economy, even if you wanted to, it's difficult to provide value. There's a lot of rent-seeking friction that needs to be overcome and these barriers prevent people from providing value. How hard is it to start a business in most places? How hard is it to open a bank account, get the right permits and comply with the many rules that enrich rent seekers? These are all taxes on not just entrepreneurs, but on civilization itself.

So why is rent seeking so hard to eliminate? The problem is that rent seeking is very attractive to most people. It's a lot less volatile than the market and the income is guaranteed through the government in some way. There's much less dealing with difficult customers, changing market conditions or ambitious competitors. Most people would take less money to have this long-term certainty. As a result, even those providing value slide toward rent seeking very quickly.

The Slippery Slope To Rent Seeking

Not all rent seekers start out that way. Many fall into rent seeking slowly and almost unnoticeably. You can see this in some of the most "successful" tech companies of the last 20 years. Amazon, Facebook and Google were very good services. Of course, part of why they were perceived that way is because they sold their goods and services at a loss. In the case of Amazon, it lost money on a lot of sales early on. Facebook and Google gave their services away for free. Incidentally, this was only possible because of the large amount of money available for investment, which is a side effect of an inflating fiat currency. Thus, the services that you got for the cost were a great deal for customers.

But that was part of their long-term strategy. Like a drug dealer giving the first hit for free, their convenience hooked the users. Then they started selling ads to "monetize" their audience. Monetizing is really a euphemism for becoming middlemen in transactions that their users want to engage in. Thus, Amazon, Google and Facebook started becoming brokers for third-party merchants, either through ads or through becoming monopolistic platforms.

As soon as the users were hooked, they made the terms attractive for the other side of the transaction, the merchants. Lead generation on Facebook or Google were much cheaper than what existed before. Soon, merchants became addicted to their platforms and then they were exploited to monetize further. Auctions for ads were manipulated and fees for listing became more expensive. They used fiat money to be middlemen in a market they entirely controlled. At each step, these companies inserted themselves deeply in the value being provided to capture the profit. In other words, they became rent seekers.

What's worse is that this was their plan all along! This is the plan for nearly every startup and has been for many years. Grab a lot of users, grab a lot of merchants and become the middleman. Every venture capitalist talks about this as a desirable outcome: to capture lots of value and be able to defend that monopoly. This is the path to profitability that every venture backed startup strives for and hence why there's so much emphasis on growth.

This is not an isolated story since 1971. Once Nixon ended the gold standard and every currency pegged to the dollar suddenly became fiat currency, the market incentives changed. Rent seeking was much more profitable and unsurprisingly, we’ve gotten a lot more rent seekers. There are few businesses that are creating significant value anymore. Many large businesses rely on some form of government spending, fiat loans or both. Many tech companies relied on a lot of venture capital (VC) money which are really, fiat loans, to become rent seekers. The fiatization of the economy has been ever-present and growing for the past 50 years and even the most productive companies have become infected.

Glorifying Rent Seeking

Why is it that so many people coming out of business school now want to be wealth managers? Because they're imitating the Warren Buffets of the world. He's a guy that hasn't created anything in his entire life, he has just managed other peoples' money. He's the ultimate rent seeker which has made him fabulously wealthy. Because of the primacy of money, rent seeking has become extremely prestigious. The heroes of this generation are guys like Buffet and not Thomas Edison or Nikola Tesla, who actually made things.

Bitcoin, thankfully, starts shaming rent seekers for who they are. Altcoiners are so obviously rent seeking and creating no value. Hence they're rightfully condemned strongly by Bitcoiners. You can see the obvious rent seeking in the "free money" altcoins use to bribe people to market for them. The main attraction of altcoins is that they let you be a rent-seeker without the gatekeeping of top-tier business schools, political connections or media approval. It’s really rent-seeking for all, which really means no one’s doing any real work.

In a sense, altcoins are the natural end of fiat rent seeking. They are all completely non-productive and have no redeemable quality whatsoever. The aspiration is that you can make money for doing nothing valuable. That's what's so attractive, but also what's so unsettling. Most people can sense that there's something extremely wrong about people making money for doing nothing. Something doesn’t add up and even a 5-year old can sense it. The value has to come from somewhere and hence there's always a bit of dread with most altcoiners. Even in bull markets, they know at some level that they're playing with house money that they didn’t earn. So many altcoiners go broke like lottery winners because deep down, they know they didn’t provide any value.

Indeed, the value being extracted by all this rent seeking is from the capital that civilization has built up over many generations. In Western countries, there's a culture of trust that's starting to disintegrate. Trust is a capital good that takes a long time to form. Trust is why you saw an economic miracle in Japan and Germany after World War II but not one in the Soviet block. Abusing that trust for monetary gain reduces communal trust. These rent-seeking frauds are eating our seed corn.

Adding Value

Thankfully, there’s no rent-seeking in Bitcoin as there’s no centralized entity that can hand out rent-seeking positions. Bitcoin is building up capital again because Bitcoin rewards people who add value. The toxic maximalism that everyone complains about is really just a reaction against rent-seeking, value-subtracting behavior. VCs are experts in being rent-seeking middlemen. Influencers are as well. These are the people who, when they come in trying to extract value from Bitcoiners, get roasted.

Bitcoin companies are harder to create than any other because there's no room for rent seeking. The Ethereum Foundation isn't giving you a grant, nor is the "crypto" VC going to give you money because you don’t have a new token they can pump. But that's what makes for better, more honest companies and why Bitcoiners are much more likely to support them. The value add is obvious because there’s no fiat or altcoin subsidization.

Bitcoin builds capital through making work about adding value again. And work is harder, but less scammy. In other words, instead of being scammy rent seekers, we can do honest work again.

Reject rent seeking. Build.

This is a guest post by Jimmy Song. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

- BtcCasey
Strike Launches Instant, Cheap Remittances For The Philippines Using Bitcoin Lightning

U.S. users of Strike can now use Send Globally to send instant, cheap remittances to loved ones in the Philippines.

Strike, the leading digital payment platform built on Bitcoin's Lightning Network, has announced the expansion of its "Send Globally" product to the Philippines. This will allow for fast, secure and low-cost money transfers between the U.S. and the Philippines, which is one of the world's largest remittance markets. The Philippines relies on more than $35 billion annually in money sent from abroad, with over $12 billion coming from the U.S. alone. 

Strike has partnered with Pouch.ph to enable transfers from U.S. dollars to Philippine pesos, which can be received in a bank or mobile money account in the Philippines.

Strike uses the Lightning Network to make digital payments faster, cheaper, and more accessible, particularly in countries with a high number of unbanked individuals. With Send Globally, dollars are converted into bitcoin, sent via the Lightning Network to a third-party partner in the recipient's country, then converted into local currency and sent directly to the recipient's bank or mobile money account. This eliminates the need for both the sender and recipient to worry about bitcoin's tax treatment, dollar volatility or custody implications.

“Remittances are a broken system and Strike delivers an incredibly empowering experience for people to send money around the world in nearly an instant,” Jack Mallers, founder and CEO of Strike commented. “We’re excited to partner with Pouch.ph to advance financial inclusion and bring fast, low-cost cross-border payments via the Lightning Network to the Philippines. Our technology allows us to both improve on the existing cross-border experience and include those that have previously been excluded by legacy payment rails.”

Bitcoin Magazine was fortunate enough to interview Mallers on the development, which can be viewed below:

Send Globally was launched in December 2022 starting with transfers from the U.S. to Nigeria, Kenya, and Ghana. CoinCorner has also partnered with Pouch.ph to enable remittances for European customers.

With the integration of Pouch.ph and Strike, the cross-border payment experience has been revolutionized and has further empowered people to easily send money to their loved ones back home. Lightning will continue to expand into more markets with more partners to provide better payment services to communities around the world.

- BtcCasey
ZEBEDEE And Stattrak Launch New Esports Fantasy Product With Bitcoin Rewards

Stattrak and ZEBEDEE have launched a new fantasy esports platform with real-money rewards in bitcoin for popular games.

ZEBEDEE, a leading fintech payment processor for the gaming industry, and Stattrak, the play-and-earn fantasy esports platform, announced the launch of a new product aimed at fans of esports worldwide. The product offers fans the ability to assemble their own fantasy teams in popular games like Counter Strike: Global Offensive, League of Legends, Valorant, Rainbow Six Siege and Dota 2. Fans can choose players from any professional competition and earn real-money rewards in bitcoin if their team performs well.

Stattrak has expanded its platform to include a web version, in addition to its mobile app, and a new Prediction mode, which allows users to predict the results of individual matches in a tournament. The platform is powered by ZEBEDEE, which enables instant and programmable Bitcoin transfers worldwide. This allows Stattrak to send small amounts of bitcoin to users automatically if their team performs well.

Users can also cash out their earnings in the ZEBEDEE app and use their rewards to buy gift cards for over 5,000 products and services or pay bills, eliminating the need to exchange their bitcoin.

"Stattrak's fantasy esports platform is a great complement to the ZEBEDEE ecosystem,” Ben Cousens, Chief Strategy Officer at ZEBEDEE said. “People who love gaming love interacting with it in multiple ways, and actually playing is just one part of it. Stattrak is a great example of how we can go beyond pure gameplay to offer a holistic rewarded experience within the gaming sphere."

This new launch offers fans of esports an exciting new way to engage with their favorite games and earn rewards while doing so. The seamless integration of bitcoin payments with the ZEBEDEE app makes it easy for users to cash out their rewards and revolutionizes the way that players will experience gaming. 

- Joakim Book
The Four Worst Ways To Attack Bitcoin

In his latest book, Nouriel Roubini demonstrates the worst ways to try and attack Bitcoin.

This is an opinion editorial by Joakim Book, a research fellow at the American Institute for Economic Research and contributor to Bitcoin Magazine, HumanProgress.org and the Mises Institute.

Finding fault with Bitcoin and Bitcoiners is easy. Every schmuck, stick, know-it-all pundit, wiseass and establishment elite has a handful of complaints readily available. Bitcoin uses too much electricity; its fixed money supply schedule makes interventions from a benevolent central bank impossible; it doesn’t have enough inflation for a growing economy; it is used by pesky criminals; and its mean, technobabbling users hurt my brittle feelings.

The objections get tiresome about as quickly as they get recycled.

One fantastic example is the doomspeaker economist Nouriel Roubini, known for his bombastic and bearish declarations — frequently nicknamed “Dr. Doom” by the financial press. In his own mind, he is merely “realistic,” which every madman would say about himself when queried. In his latest book, “Megathreats: The Ten Trends That Imperil Our Future, And How To Survive Them,” he insists that most people overlook something about this infamous nickname:

“Those who label me Dr. Doom fail to see that I examine the upside with as much rigor as the downside. Optimists and pessimists both call me contrarian. If I could choose my nickname, Dr. Realist sounds right.” 

The Bitcoin obituaries site 99bitcoins.com lists our beloved economist hater 12 times, but Googling finds plenty more Bitcoin denouncements from this outspoken character — in every outlet that’ll have him, it seems, from Twitter to the Financial Times.

To Roubini, bitcoin was a bubble in 2013, a “Ponzi game” and “not a currency” in 2014, a “gigantic speculative bubble” in 2017, almost all transactions were fake in 2019 and, most tastefully, in 2020 a little bit of everything:

What his new book does so well is outline the world’s many macroeconomic troubles. For five mesmerizing chapters, he describes the debt problems, the demographic impossibility that is the bankrupt Ponzi (sorry, “pension”) schemes of Western nations, the easy money disaster and the boom-bust cycle that it gives rise to. Stagflation in the 2020s did not come as a surprise to him, and he locates the blame precisely where it should be: “We poured massive amounts of money and fiscal stimulus into a financial and economic system already awash in cash and credit.” With a short-term view and politically-captured central banks, we get disastrously easy money because “that is what voters want and leveraged markets need to avoid crashing.”

He even comes down on the correct side of the 2022 blunder to use the dollar payment rails to sanction a G8 economy: “This sort of weaponizing of currency for the pursuit of national security goals is the latest frontier of the mission creep of central banks, starting with the Fed” (ignoring that the Federal Reserve doesn’t make sanction decisions).

As a rule, whatever Bitcoin’s flaws are — as a money, as a protocol, as a usable tool, as a community — it gets better, relatively speaking, when the incumbent monetary system gets worse. Whatever your position on Bitcoin was three, five or 10 years ago, you must look at it more favorably today: the monetary system in place has gotten so much worse, with inflation, anti-money-laundering bureaucracy, clown-world behavior and frozen accounts being just the worst offenders. All is not well in the world of money; that makes Bitcoin a more tempting prospect, all things equal.

So, is Roubini a Bitcoiner now? Has the ultimate Bitcoin bear, diligently at it for a decade, finally come around? Seeing clearly the monetary madness of the world, it wouldn’t be the strangest thing for Dr. Doom to at last tone down his criticism of Bitcoin.

Instead, we got Groundhog Day.

The single chapter dedicated to financial instability spends a dozen or so pages on Bitcoin, unbelievably dedicating most of them to “crypto,” “DeFi,” “stablecoins” and central bank digital currencies. Sigh.

Still, even here we had potential: The rise of crypto, explains Roubini, “exposes our collective wilting faith in the ability of governments to back the money they issue.” Hear, hear.

Queen Taylor Called

“Ugh, so he calls me up and he’s like ‘I still love youuu’, and I’m like ‘I just… I mean, this is exhausting, you know? Like, we are never getting back together. Like, ever.’”

–Bitcoin philosopher Taylor Swift

If you are to critique Bitcoin — something you certainly, certainly can do — here are some things you should do:

First, get your monetary attributes in order.

There are three — store of value, unit of account, medium of exchange — not five. You can’t invent new ones and duplicating previous ones isn’t useful. Roubini introduces “single numeraire,” which is exactly the same thing as a unit of account, and splits store of value into stable value against “market value” and against “an index of the price of goods and services.” Try carving out a difference. This is silly word play.

Second, make sure your criticism is levied against Bitcoin, not “crypto.”

Most people think of bitcoin as merely the first “cryptocurrency,” the most famous among tens of thousands of scammy shitcoins. It’s not. What holds and happens in the la-la land of vaporware tokens rarely has anything to do with Bitcoin: Sam Bankman-Fried’s shenanigans, Terra’s implosion or the Cryptoqueen scam do in no way detract from Bitcoin’s core, its principles or operations. When Roubini cites “BaconCoin,” quotes LoanSnap’s founder or reports negative comments by DogeCoin’s creator, he does not undermine Bitcoin’s promise.

Bitcoin is a one-off monetary invention, separated from every other money or “crypto” by a Great Wall of categories and concepts: it doesn’t have a company or founder running it, like every other shitcoin does; it doesn’t have counterparty risk nor is it subject to censorship like every other fiat currency. Bitcoin has no CEO and no marketing department; it has the strongest Lindy and the highest hash rate.

Third — and this is a hard one — make sure your points haven’t already been debunked, answered and relegated to the dustbin of unimpressive, erroneous jabs at Bitcoin.

Repeating an outdated accusation makes you look stupid, not Bitcoin. Roubini goes for the vast wealth inequality in Bitcoinland, believing it to be “worse than that of North Korea.” It’s not, and as flawed as these investigations are, UTXO ownership seems to become less and less unequal over time — as you’d expect for an emerging money that gets distributed in use.

Unsurprisingly, it uses too much energy, as much as a small country and therefore “will blunt urgent climate initiatives to slow down global warming.” It doesn’t and it won’t: if anything, Bitcoin unlocks stranded energy, contributes to balancing the grid and miners are more renewable than most major economies.

Fourth, make sure that the property of Bitcoin that you’re attacking isn’t worse in the legacy system.


Warren Buffet often makes this error, thinking that hacks, fees or the fact that bitcoin doesn’t generate “yield” dooms it to failure. Nevermind that paper money doesn’t either (unless you count seigniorage to the central bank); nevermind that his ridiculing of bitcoin as a Ponzi applies equally well to apartments or Uncle Sam’s pension schemes.

The most absurd accusation arrives with Roubini’s silly soda shitcoins: If you need Coke coins to buy Coke and Pepsi coins to buy Pepsi, how could you ever establish (relative) value?! How could you ever know what either of them are worth?

Makes you wonder how Americans could ever buy things when they’re abroad, how pound-based customers (i.e., British residents) can ever acquire anything sold in euros or spend their melting currency on Fifth Avenue. There’s a publicly-displayed market price for you to “convert” value into the monetary system that you’re familiar with; and there’s a publicly-traded market that the banks on either side of your and your vendor’s transaction can trade and settle such that international trade works.

Fascinating.

His currency risk examples are illustrative — and disingenuous. Apparently vendors can’t “price” goods in bitcoin since “an overnight fall in value might wipe out the [seller’s] profit margins.” That’s true as far as it goes, but holds equally so for any cross-currency transaction in the legacy world: imports or export or any supply chain more complicated than your local currency area. Besides, if you worry about the currency exposure in your sales, there is a liquid market that provides hedges for you. Many stores that accept bitcoin through various third-party solutions instantly exchange them for dollars, thus mitigating the risk.

In the very next sentence, Roubini considers the downside of the opposite risk:

“Were someone to write a mortgage with principal and interest in bitcoin, a spike in the value of bitcoin would cause the real value of the mortgage to skyrocket. If default then likely occurs, the lender loses money, and the borrower loses her house.” 

I suppose no American therefore owns property in New Zealand or Mexico, no European has debt contracts in USD-dollars. These are not novel risks, but ordinary financial risks that firms and households deal with already.

What’s so fascinating is Roubini’s lack of symmetry: If margins can get obliterated by an overnight drop, then margins can also be doubled by an equal overnight rise. Symmetric risk. If bitcoin’s exchange rate for dollars falls — which Roubini is so certain it will — a bitcoin-denominated mortgage will wipe out itself by becoming easily repayable with appreciating dollars. This isn’t to say that he’s wrong to point out these risks, but that they’re reduced to what economists call “risk aversion.” Unhedged bitcoin transactions or debt contracts are bad if households worry about the downside more than the upside — which, in the real world, seems to be true only to some extent.

The honest conclusion isn’t Roubini's “bitcoin is incapable of being money,” since many established currencies with volatile values between one another can serve that function, but that an emerging bitcoin economy would have this added, minor layer of business risk.

It’s like Roubini went out of his way to be up to date on all his other macro worries, only to lay forth criticism of Bitcoin that was outdated by the time he first voiced it in the mid-2010s.

Most devastatingly of all: Can anyone really be taken seriously when they slap a plural “s” on the uncountable noun “bitcoin”?

The better you understand the faults of the current way of doing monetary things, the better Bitcoin looks.

When you look at the many macro ills that Bitcoiners are so well attuned to, the pit of your stomach should churn in anxiety. When you look at the debts (public and private) that rampage the system, you should be feeling nauseous. All of this Roubini captures expertly, and much of his writing could even have been featured on these pages. Our beloved economist hater gets the problem, better and more vocally than most. Still, no dice.

It’s unfathomable that someone so attuned to the world’s catastrophic macro problems as Roubini cannot see the master-key solution that is Bitcoin.

This is a guest post by Joakim Book. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

- BtcCasey
Twitter Prepping For Payments, Could Include Bitcoin And Crypto: FT

Elon Musk’s Twitter is preparing to add payments functionality that could potentially include cryptocurrency, inside sources told the Financial Times.

Twitter is prepping for payments, and bitcoin might be in the mix.According to a Financial Times report, Elon is open to adding BTC and crypto to its Twitter payments vision.While the “super app” vision would prioritize fiat, its future will likely include the alternative payment method.

Elon Musks’ Twitter has reportedly begun applying for regulatory licenses across the U.S. in apparent preparation to begin facilitating payments through the app.

People close to the company stated that Twitter “has started to map out the architecture needed to facilitate payments on the platform with a small team,” which could potentially include functionality for cryptocurrency payments, the Financial Times reported.

According to the FT source, Musk has stated that he wants Twitter to serve fiat payments first, but be made with the ability to enable cryptocurrency later on. This would not be the first time that Elon Musks’ businesses have facilitated bitcoin transactions. Musk has previously accepted bitcoin for his Tesla electric vehicles, but later retracted the ability due to concerns about renewable energy.

While there are no firm plans to implement this interoperability, Musk has firmly reiterated since his taking over of the social media firm that he wants to see it become more of a generalized “super app.” This multifunctionality approach would benefit greatly from the increased functionality of cheap, instantaneous payments using a platform like the Bitcoin Lightning Network.

Twitter previously tested “tipping” through the Bitcoin Lightning Network via Jack Mallers’ Strike, later adding the ability for users to add a Bitcoin address to directly receive their tips. 

- Tom Carreras
Russia’s Largest Bank to Launch Ethereum-Compatible DeFi Platform
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- Tom Carreras
99 Year Old Charlie Munger Calls for Crypto Ban
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- Tom Carreras
Federal Reserve Raises Rates by 25 Basis Points
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- Tom Carreras
Celsius Was Operated in a Ponzi-Like Manner: Report
Celsius was pushing up the price of its CEL token by using customer funds, a new report has found. Even employees commented on how ponzi-like the scheme appeared. A Ponzi...
- Tom Carreras
Sam Bankman-Fried May Have Tried to Influence Witness Testimony: Prosecutors
By reaching out to the FTX US general counsel through Signal, Sam Bankman-Fried may have tried to influence a potential witness testimonyor to intimidate them into not testifying at allclaim...
- Tom Carreras
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- Tom Carreras
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- Tom Carreras
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- Tom Carreras
Flashbots Seeks to Raise $50M at $1B Valuation: Report
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- Tom Carreras
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- Tom Carreras
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- Tom Carreras
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- Tom Carreras
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- Crispus Nyaga

Pi coin is a highly popular cryptocurrency with over 35 million users.

PI/USDT has plunged on Huobi after the developers disavowed it.

Pi coin is one of the most popular and highly anticipated cryptocurrencies in the world. User metrics show that support for the Pi Network has been soaring in the past few months. Its official Twitter account has over 2 million followers, which is bigger than that of mainstream cryptocurrencies like Cardano and Polkadot.

Pi Network ecosystem is growing

Similarly, Pi Network apps are also highly popular, with the Android version having more than 50 million downloads. Further, Pi Browser has over 10 million users globally. At the same time, the network’s ecosystem is growing, with a number of developers building on the ecosystem rising. Some of the top apps that are being built in Pi are PiCare, Pi Chain Mall, and World of Pi Championship among others.

The number of Pi coin users has also been growing and currently stands at more than 35 million. In a bid to grow the ecosystem, the developers are carrying out a hackathon that will see developers showcase their applications. 

For starters, Pi Network is a platform that was launched in 2018 to offer better tools and features than Bitcoin and existing cryptocurrencies. As part of its strategy, the developers made it easier for people to mine the coin using their smartphones.

Mining Pi coin using a smartphone works using the Stellar Consensus Protocol (SCP), which uses the Federated Byzantine Agreement, which helps to ensure no energy waste and faster speed of transactions. In its ecosystem, Pi miners can become a pioneer, contributors, ambassadors, and node. Miners simply visit the app, confirm transactions, and then receive rewards, 

Is Pi Network worth anything?

There are several questions that are common about Pi Network and Pi Coin. For example, there are questions about whether the network is a legit one or a scam and whether it has a future. Other users have a question about how to convert their Pi coins into cash.

For now, it is difficult to come up with a Pi Coin price prediction since the network is still in an enclosed mainnet. As a result, it is unclear when the coin will be launched in major exchanges and the price in which it will start trading at. Most importantly, it is still unclear whether it will ever be launched on exchanges. Besides, Pi has been around since 2018.

It is possible to trade Pi today. In December, several exchanges, including Huobi Global listed PI/USDT which is supposed to mirror the performance of the real Pi coin. We wrote about this here. After soaring on its first few days, PI/USDT price has plunged by over 80% after the real developers disavowed the network.

Therefore, for now, Pi Coin is a wildcard in the crypto industry, and I don’t believe it is worth your time until it is pushed to exchanges. Pi Network is not worth anything even though the ecosystem is growing.

The post Pi Coin price prediction: Is Pi Network worth anything? appeared first on CoinJournal.

- Crispus Nyaga
Crypto price predictions: SUSHI, Immutable X, AGIX

SushiSwap price jumped as volume and revenue in DEX platforms rose.

Immutable X (IMX) did well after the launch of Passport.

SingularityDEX token could be forming a double-top pattern.

Bitcoin price held quite well this week as the market focused on the Federal Reserve decision, big-tech earnings, and the strong jobs numbers. As a result, the total market cap of all cryptocurrencies remained above $1 trillion even as the momentum appeared to wane. In this price predictions article, we will focus on a few cryptos that are doing well on Friday, including Immutable X (IMX), Sushi, and AGIX.

SushiSwap price forecast

SUSHI crypto price went parabolic as volume and revenue in decentralized finance (DeFi) rose. On the 4H chart, SushiSwap’s token climbed above the important resistance level at $1.48 (November 30 high. It also surged above the key resistance point at $1.4154 (January 22 high). 

This rally coincided with an increase in volume. In technical analysis, volume is one of the most important things that investors watch. In most situations, a major move that is not supported by volume does not last. Meanwhile, the coin has jumped above the 50-day EMA, which connects the lowest points between January 1 and 25. 

So, is it safe to buy SushiSwap? Therefore, with the flow of volume falling, I suspect that the coin will have a pullback during the weekend as investors start taking profits. If this happens, the key support level to watch will be at $1.4856.

SUSHI/USD chart by TradingView

How to buy SushiSwap

eToro

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Public

Public is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles—all in one place.

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Immutable X price prediction

Immutable X’s IMX price shot up this week after the company created Immutable Passport, as we wrote here. In all, the coin’s price surged to a high of $1, which was about 161% above the lowest point in December. On the daily chart, we see that volume has been tracking upward since December. 

IMX crypto also moved above the crucial resistance point at $0.7483, the highest level on January 25. It also rose above $0.7290, November 5 high. The bullish trend is supported by moving averages. But like SUSHI, I suspect that the coin is ripe for a pullback in the coming days. If this happens, the coin will likely retreat to the support at $0.7483.

IMX/USD chart by TradingView

How to buy Immutable X

Huobi

Start Your Cryptocurrency Journey Today. Huobi Global has a variety of features that make it an ideal place to buy and sell digital asset.

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AGIX price prediction

Artificial intelligence is taking over the world, especially following the launch of ChatGPT. This explains why SingularityNET’s AGIX price has been in a remarkable rally recently. The token surged to a high of $0.25 on Friday, the highest point since January 14. At its peak on Friday, the coin was up by 555% from its lowest point in December.

AGIX seems to be about to form a double-top pattern whose upper side is at $0.25. This view is supported by the fact that the coin’s volume has been trending lower. Therefore, there is a likelihood that the coin will have a bearish breakout in the coming days unless bulls push it above $0.25.

IMX/USD chart by TradingView

How to buy SingularityDEX

The post Crypto price predictions: SUSHI, Immutable X, AGIX appeared first on CoinJournal.

- Benson Toti
Bitcoin price fell slightly to retest support near $23,250 on Friday. The top cryptocurrency’s price action mirrored early trades on Wall Street as the market reacted to US economic data. The US added 517,000 jobs, against an estimated 188,000 and unemployment fell to 53-year low of 3.4%.

Bitcoin responded to Friday’s US jobs report by swinging nearly 2% lower to trade around $23,250 early morning. As CoinJournal reported, Bitcoin fell against the US dollar after it briefly touched highs of $24,086. 

Across crypto, Ethereum had slipped towards $1,600 with about 1.4% in losses.

Bitcoin and stocks react to US jobs data

As noted, early action across cryptocurrency prices mirrored the opening on Wall Street, where the three major US indices swung lower after the January jobs report showed a higher-than-expected rise in nonfarm payroll.

Data released by the US Bureau of Labor Statistics showed the labour market added 517,000 jobs in the first month of 2023. The statistic indicated an unexpected growth, exceeding the 188,000 estimated by economists.

The US economy added far more jobs in January than the 223,000 managed in December, with the unemployment rate falling to its lowest level in over half a century. Per the data, unemployment is now down to 3.4%, the lowest level for the US since 1969. Economists expected the unemployment rate at 3.5%

The market’s reaction to the economic data, together with sentiment around disappointing earnings results from across Big Tech, fueled an early sell-off on Wall Street. It’s also likely down to nervousness over what this means for the Fed’s inflation outlook.

The S&P 500 fell nearly 1%, while the Dow Jones Industrial Average declined by 100 points before regaining some footing. The Nasdaq Composite, impacted by a decline across tech stocks, shed more than 1.3% in early trading.

The major indices are trying to recoup the early losses, as is Bitcoin that is trading near $23,500 as of 10.25 am ET. If bulls regain the upside momentum, BTC is likely to retest its intraday highs just above $24,000.

The post Bitcoin slips amid market reaction to US jobs report appeared first on CoinJournal.

- Benson Toti
Binance says WazirX has till 3 February 2023 at 23:59 UTC to withdraw assets from its accounts. According to Binance, Zanmai Labs, the company behind WazirX, has failed to retract misleading public statements about their relationship. Changpeng Zhao said in August 2022 that Binance never acquired WazirX and that it only offered wallet services to the exchange.

Binance, the world’s largest crypto exchange, has terminated wallet services it has been offering to Indian cryptocurrency exchange WazirX.

An announcement Binance published on Friday, 3 February 2023, notes that the decision to halt the wallet service relates to Zanmai Labs, the company that operates WazirX. As explained in the blog post, Zanmai has severally put forth misleading claims about its relationship with Binance.

In particular, claims that Binance had control over WazirX user funds and exchange operations is a misleading narrative that Zanmai has continued to perpetuate.

Binance halts wallet services to WazirX operator

Due to all the false claims, Binance says it gave Zanmai the opportunity to retract the misrepresentations if they wanted to still benefit from the wallet services. That hasn’t happened and it’s the reason for the move.

According to Binance, the relationship between it and Zanmai has only been around the provision of wallet services. These, the exchange added, are offered “as a tech solution” to help power WazirX’s exchange operations and that this isn’t unique to Zanmai. 

The wallet service is similarly offered to other companies that leverage the technology and infrastructure to run their own businesses.

On 26 January 2023, we offered Zanmai a choice between retracting the false public statements (and continuing to use our services) or terminating the use of our wallet service. Since Zanmai has refused to clarify their misleading statements, Zanmai has till 3 February 2023 (23:59 UTC) to remove the funds from the accounts that they used for WazirX’s operations,” Binance wrote.

Reportedly, Zanmai is ready to withdraw all WazirX assets from Binance accounts. Binance is also offering to allow the withdrawals to extend beyond 3 February. The process will not impact Binance users, the exchange noted.

In August last year, Binance CEO Changpeng Zhao explained that although his company had announced its acquisition of WazirX in 2019, the deal never materialized. Zhao’s comments came as the Indian government froze WazirX accounts amid investigations into a money laundering scheme.

The post Binance terminates wallet services to WazirX appeared first on CoinJournal.

- Charles Thuo
MicroStrategy registered $34 million in its first-ever bitcoin sale. The company registered a paper loss of over 1 billion in 2022. MicroStrategy made its first bitcoin purchase in August 2020.

Despite making a paper loss of about $1.3 billion in 2022, MicroStrategy’s chief financial officer, Andrew Kang, said that the company will continue trading bitcoin. During a presentation for the Q4 2022 financial results webnier, Kang said:

“We may consider pursuing additional transactions that may take advantage of the volatility in Bitcoin prices, or other market dislocations that are consistent with our long-term Bitcoin strategy.”

The company’s stand on digital currencies comes at a time the crypto market is witnessing considerable recovery from last year’s plunge although it is not clear if digital currencies will ever reclaim their previous highs.

Microstrategy bitcoin investment

Microstrategy made its first bitcoin purchase in August 2020 acquiring 21,454 BTC in what it described as a “capital allocation strategy.” The company has been accumulating bitcoins since then and by December 24 2022 it had as much as 132,500 BTC worth $4.027 billion according to Microstrategy bitcoin statistics on the Buy Bitcoin Worldwide website.

In the presentation on February 2023, Kang confirmed that Microstrategy holds 132,500 bitcoin that are worth about $1.84 billion as of Dec. 31, 2022.

In the last quarter, MicroStrategy made a loss of $34 million after making its first-ever Bitcoin sale. The company made the decision to sell some of its bitcoins to recoup some tax losses.

Microstrategy co-founder Michael Saylor said Bitcoin is one of the most important benchmarks that it uses to measure its stock performance against. He said that the company’s stock has risen by 117% since August 2020 compared to the bitcoin price which has risen by 98% in the same period.

In an interview with a popular news outlet, Saylor said:

“The only real safe haven for an institutional investor is Bitcoin. Bitcoin is the only universally acknowledged digital commodity, and so if you’re an investor, Bitcoin is your safe haven in this regard.”

The post MicroStrategy BTC paper loss hit $1.3B but no plans to stop trading bitcoin appeared first on CoinJournal.

- Mircea Vasiu
BTC/USD price forecast following the Fed’s decision
Bitcoin moves in a tight correlation with the US dollar Investors are unsure what to make of the Fed’s decision Technical analysis favors a stronger dollar

The Federal Reserve of the United States (Fed) has raised the funds rate once more this week – this time, by 25bp. The decision triggered a selloff in the US dollar, which lost ground against its peer fiat currencies.

Also, it lost ground against Bitcoin as well.

The reason for the greenback’s weakness was the message that disinflation in the United States had already begun. As such, the fight against rising inflation appears to be over, and so the Fed approaches the terminal rate for this tightening cycle.

But the dollar’s weakness proved to be shortlived.

The next day following the Fed’s decision, the dollar strengthened. Nothing changed from the Fed’s point of view, but investors suddenly decided it was time to buy the dollar.

So they did, and now the dollar is in a range ahead of the jobs report in the United States.

Bitcoin dropped against the dollar, too, after trading above $24k for a brief period. At the current levels, it sits dangerously at the lower edge of a reversal pattern.

BTCUSD chart by TradingView

Rising wedge and bearish RSI divergence call for caution

Bitcoin’s price action diverged from the RSI even before the Fed’s decision. A bearish divergence forms when the oscillator, in this case the RSI, fails to make new higher highs. Yet, at the same time, the price action, or the market, does form them.

This way, the two diverge, and the oscillator shows signs of weakness in the market.

Besides the bearish divergence with the RSI, BTC/USD is in a rising wedge formation. This is a reversal pattern, but traders must be patient before shorting the market.

The idea is to wait until and if the market breaks below the pivotal area marked in blue on the chart above. Such a move implies that the reversal pattern ended and a new market move has already started.

The post BTC/USD price forecast following the Fed’s decision appeared first on CoinJournal.

- Benson Toti
Core Scientific is seeking emergency relief from the bankruptcy court for it to secure a replacement loan facility. According to court documents, the miner has agreed to a $70 million credit facility from investment banking firm B. Riley. The company will use the funds to pay off an existing loan to avoid defaulting,

Core Scientific, a Bitcoin mining firm that filed for Chapter 11 bankruptcy protection in December last year, says it’s agreed to a $70 million financing facility from B. Riley Commercial Capital, LLC.

Court documents the Bitcoin miner filed on Tuesday reveal that the crypto company seeks to use the loan facility from the investment bank to pay off an existing debtor-in-possession (DIP) facility.

Core Scientific seeks emergency relief

The miner seeks an emergency relief from the bankruptcy court, which it says is needed no later than 11:30 am CET on Wednesday, 1 February, 2023. As noted in the filing, the crypto miner would be in default under the terms of the original DIP facility.

The Core Scientific team says if approved, the first part of the facility will be $35 million before the rest follow. Securing the new credit facility from B. Riley is key to the miner continuing its operations as it navigates its bankruptcy process.

The past year proved to be particularly brutal for crypto mining companies, with the crash in Bitcoin prices and surging energy costs combining to hurt business. Core Scientific was one of the largest miners to seek bankruptcy protection as Bitcoin price collapsed once more following crypto exchange FTX’s implosion.

At the time of its bankruptcy filing, Core Scientific revealed liabilities of $1 billion to $10 billion.

The post Core Scientific agrees $70 million loan from B. Riley appeared first on CoinJournal.

- Alice Davies

Investors searching for potential gains in 2023 have been wowed by the news that Metacade’s initial presale stages have sold out within a matter of weeks as bullish investors poured more than $4.9m of funding into the fledgling crypto gaming platform.

With MCADE’s presale continuing to attract massive interest in subsequent presale rounds, some experts are predicting that early investors could enjoy 10X gains in 2023.

Metacade could be the buy of the year

Forward-thinking investors and crypto gaming enthusiasts have been effusive in their early backing of Metacade during the presale, supporting the platform’s aim of delivering the most comprehensive range of online arcade games in the metaverse.

The momentum behind the presale has picked up pace in stage 3, which indicates that the value of Metacade’s utility token and native currency coin is set to surge in the short term, with potentially enormous long-term gains to be realized in the coming years. 

Beginning at $0.008 per token in the beta phase, MCADE’s value is set to rise to $0.02 by the end of the ninth and final presale stage. Expectations are that the price could leap in value once MCADE becomes available to the public.

Bullish investors have been seduced by Metacade’s vast long-term potential, set out in their comprehensive and ambitious white paper. This, combined with the wider projected explosion in the GameFi sector over the next five years and plans to place themselves at the center of crypto gaming for years to come, means MCADE has the potential to achieve 10X gains this year.

How high could MCADE reach in 2023?

The value of the MCADE is set to rise throughout the duration of the presale, culminating in a value of $0.02 per token as it prepares for its IDO. The coin will then be launched on decentralized exchanges (DEXs) when buyers globally will likely scramble to get their hands on MCADE.

Early investors are expected to maintain their HODLing, awaiting a huge jump in MCADE’s value. With a limited fixed supply of 2 billion tokens, demand for MCADE is expected to surge enormously on centralized and decentralized exchanges, which could lead to an increase in price as MCADE establishes itself as a solid crypto-gaming token.

The utility built into the MCADE token makes it an even more attractive prospect for investors to get their hands on. Expectations are that the value can deliver 10X gains with a rise in value to between $0.10 and $0.20 – a realistic prospect for 2023.

Is cryptocurrency a good long-term investment?

Between 2016 and 2021, global crypto holders increased by almost 60 times in five years. Although market conditions turned decidedly frosty in 2022, driven by the collapse of some big names in crypto markets, such as FTX, and global economic conditions, the number of investors and platforms continues to grow.

In addition, the crypto-gaming market is projected to grow approximately 70% year-on-year to become a $63 billion industry by 2027. Metacade is superbly placed to take advantage of this growth with its unrivaled range of online arcade games.

The crypto world is fast-paced, with an ever-increasing number of user cases, so predicting the future is hard. However, with countries like El Salvador beginning to adopt crypto as a genuine means of international payment, the signs for crypto markets are incredibly positive.

What is Metacade?

Metacade is building a brand-new platform hosting the most extensive range of online arcade games in the metaverse, becoming the first project of its kind to launch in the crypto-gaming world. Built on the Ethereum blockchain, Metacade will host a wide variety of play-to-earn (P2E) titles allowing gaming enthusiasts to come together with like-minded individuals, build a community and earn crypto rewards as they play.

A community-driven project, Metacade offers gamers and users a range of different earning mechanisms outside the P2E capability, with members rewarded for social interactions with the platform and, shortly, being able to apply for paid roles, including game testers, on Metacade and in the wider Web3 industry.

Metacade: Driving GameFi development

Metacade aims to go well beyond the traditional sphere of P2E crypto gaming platforms by delivering innovation in the wider GameFi industry through its ground-breaking Metagrants scheme. Developers can submit applications for funding to support the creation of new exclusive titles. These submissions are pooled and presented to MCADE token holders who vote for their favorites.

By handing control of the games that go into development to the community, Metacade allows the GameFi industry to benefit by having games that players want on their platform while providing much-needed development experience to the most talented game developers to employ the newest and best Web3 techniques in their work, keeping Metacade ahead of its competition.

Metacade: The best crypto gaming coin with 10X gains in 2023

The MCADE presale presents investors with a unique opportunity to purchase tokens in one of the most exciting crypto-gaming projects in the metaverse. The current price of $0.013 in stage 3 of the presale looks undervalued, even in today’s bear market conditions.

Experts expect Metacade’s presale to fully sell out quickly at every stage, making MCADE the must-buy token before the price increases. With 10X gains looking possible in 2023, it’s a good time for investors to pick up the MCADE token. 

You can participate in the MCADE presale here.

The post Crypto Gaming Arcade, Metacade, Has Potential to 10X in 2023! Here’s What You Need to Know appeared first on CoinJournal.

- Benson Toti
The crypto landscape in Indonesia could see a national crypto exchange before the end of June this year. Indonesia initially planned to launch the crypto bourse before the end of 2022. The government says the cryptocurrency exchange will include five active and licensed platforms.

Indonesia is set to roll out its national crypto exchange in the next few months, the country’s Trade Ministry has said. 

As previously reported by CoinJournal, the country indicated it would be launching the exchange this year. The latest crypto news on the subject as highlited by a local news outlet, is that the Indonesian government is looking to have the crypto bourse ready by June 2023. 

Currently, crypto assets trading in Indonesia falls under the purview of the Commodity Futures Trading Regulatory Agency.

Indonesia’s growing crypto landscape

The new timeline comes after new developments (authorities suspended the licensing of new exchanges) and other official delays forced the relevant government bodies working on the project to push the launch from the originally envisaged rollout of December 2022. 

But December also saw lawmakers in the House of Representatives pass the Financial Sector Development and Reinforcement Bill.

The bill, referred to as the omnibus law, is now Indonesia’s primary legal reference for the broader financial services industry. Among the areas covered in the new law is the regulatory oversight of crypto exchanges. 

At the moment, a review of digital asset exchanges earmarked to join the national crypto exchange is ongoing. Per the latest report on the matter, the government has identified five active, registered exchanges from a list of 25 for the role.

Commenting on the upcoming bourse, Indonesia’s Trade Minister Zulkifli Hasan said there’s need for everything to be done to ensure all is set before launch. According to him, rushing the project could end up with a scenario where the public who are still learning about crypto trading get harmed by the very project designed to protect them.

Indonesia is one of the countries with the fastest growing crypto communities. As recent research by CoinJournal showed, the country ranks among the top by percentage of population owning cryptocurrencies.

The post Indonesia to unveil national crypto exchange by June appeared first on CoinJournal.

- Adam Tracey
Top 30 Crypto Movies & Documentaries
Top 30 Crypto Movies & Documentaries

Have you had the itch to watch some movies about crypto? Maybe you like to learn a few things watching crypto documentaries, in either case this list has plenty of stuff to check out that should keep you entertained for quite some time.

Bitcoin: The End of Money as We Know It (2015)

https://www.imdb.com/title/tt4654844/
From the days of bartering in early societies to today's modern highly-digitized money, this documentary looks at what exactly money means and how Bitcoin could be an alternative to currencies backed by little more than debt. While only coming in at around an hour, this brief yet informative film provides an interesting overview of bitcoin and how it could affect the concept of money in the world today.

The Rise and Rise of Bitcoin (2014)

https://www.imdb.com/title/tt2821314/
Growing obsessed with the cryptocurrency Bitcoin after discovering it in 2011, a 35-year-old computer programmer takes you on a journey to explore this incredible technology and its impact on the world. Investigate this new technology through various stories from startups, entrepreneurs, and other colorful characters who make up the Bitcoin community together.

Crypto (2014)

https://www.imdb.com/title/tt8563452/
If you’re looking for a little fictional crypto action, you may find it with the film Crypto from 2014. A banker becomes involved in an investigation of corruption and fraud after being demoted and transferred back to his hometown. You might enjoy this thriller with some action, drama, and cryptocurrency themes, including crypto mining.

Cryptopia: Bitcoin, And the Future of The Internet (2020)

https://www.imdb.com/title/tt9203586/
Award-winning producer/director Torsten Hoffmann takes a closer look at Bitcoin and the evolving blockchain industry. He sets out to explore whether this technology, designed to operate without trust or centralization, can provide a viable alternative to the Internet as we know it. Through interviews with leading experts in the field, Hoffmann uncovers the potential of blockchain technology and its implications for the future.

Where Did Bitcoin Come From? – The True Story (2021)

https://youtube.com/watch?v=W15A7Lf0_fI
ColdFusion is a great source for science, technology, history, and business content. It's an independently run Australian media company that offers calm, relaxed coverage of any and all topics you're interested in. Where Did Bitcoin Come From explores Bitcoin, where it came from, and why it all matters.

Trust Machine: The Story of Blockchain (2018)

https://www.imdb.com/title/tt7407496/
Trust Machine is a documentary exploring blockchain technology's potential to change the world for the better. Featuring insights from some of the leading minds in the field, the film covers a wide range of topics related to cryptocurrency, blockchain, and decentralization. Whether it's solving world hunger or income inequality, Trust Machine showcases how this cutting-edge technology can make a real difference in people's lives.

Bitcoin: Beyond the Bubble (2016)

https://www.imdb.com/title/tt8414186/
Explore the exciting world of Bitcoin! Here, people are in control of their own money for the first time ever – no banks or governments are required. But how did this digital form of currency come to be? How does it work? And is it here to stay, or just a passing fad?

Banking On Bitcoin (2009)

https://www.imdb.com/title/tt5033790/
Find out about the players who are bringing Bitcoin and blockchain technology into the mainstream. Furthermore, explore the clash between different factions who care about this new technology for their own reasons.

The Bitcoin Gospel (2009)

https://watchdocumentaries.com/the-bitcoin-gospel/
While early on, Bitcoin was dismissed by many as a novel concept that was unlikely to go anywhere, times have changed as people around the world started to pay attention to this growing enigma. This documentary is a great look into the earlier days of Bitcoin and many of the people that were involved early on and shared Bitcoin with the world.

Hodl - A Bitcoin Short Film (2020)

https://youtube.com/watch?v=dktBrlikweo
If you enjoy a comedic short, Hodl is a great little watch, and it’s concerningly relatable to some of us in the cryptocurrency space while also holding a useful lesson or two presented in a fun way. It’s a quick one, but it’s worth your time.

Magic Money: The Bitcoin Revolution (2017)

https://www.imdb.com/title/tt6467152/
Magic Money is another interesting documentary exploring the mysterious origins of Bitcoin and the questions still surrounding it alongside its potential roles in society. Will it shape the future in unforeseen ways? Is this the revolution for which we've all been waiting?

The Blockchain and Us (2017)

https://www.imdb.com/title/tt6835836/
Is the concept of blockchain the modern equivalent of the invention of the airplane? Listen to interviews with software developers, researchers, cryptologists, and many more from a range of places on their thoughts about this intriguing technology. Use this documentary to start a conversation of your own or at least provoke more than a few thoughts on the subject of blockchain.

Deep Web (2015)

https://www.imdb.com/title/tt3312868/
While not purely about cryptocurrency, Deep Web covers the story of the well-known Ross Ulbricht, and the Silk Road is one that catches the attention of many. Whatever your thoughts are on the topic, it's an interesting part of history that is worth understanding.

Banking on Africa: The Bitcoin Revolution (2020)

https://www.imdb.com/title/tt12363788/
The banking system is something many of us take for granted, but for many people in Africa, this isn't the case. However, many in the region are turning to cryptocurrency not only as a potential solution but to take back even more control than traditional banking could provide.

CryptoRush (2020)

https://www.imdb.com/title/tt7503072/
Have you ever felt confused when trying to understand the key principles involved in cryptocurrency, perhaps Crypto Rush could be the answer. This film attempts to explain crypto in an easy-to-understand way, making it approachable to just about anyone.

Bitcoin Heist (2016)

https://www.imdb.com/title/tt4911780/
A film from Vietnam, BItcoin Heist is a fast-paced action film with a comedic twist. If you’re looking for something fun, this one might just be your ticket. Follow special agents taking on a team of thieves and the chaos that ensues.

Dead Man's Switch: A Crypto Mystery (2021)

https://www.imdb.com/title/tt15387768/
A fantastic documentary film covering the disaster that was QuadrigaCX and its questionable founder Gerald Cotton. It’s got mystery, outrage, and even a few familiar faces you may have seen around the cryptocurrency scene. It’s a great option if you’re looking for a cryptocurrency-related documentary to check out!

Decrypted (2021)

https://www.imdb.com/title/tt11763296/
If you’re a fan of dark comedies, you may enjoy Decrypted. The story involves a mismatched NSA team that somehow manages to kidnap the creator of Bitcoin to attempt to gain information to put an end to the cryptocurrency revolution.

NFT (2022)

https://www.imdb.com/title/tt18375626/
Also known as CryptoHorrors in some regions, NFT is a movie about a group of friends buying into an NFT collection that just so happens to be cursed. If you’re feeling like some crypto-related horror, this might just be what you should watch.

Agent X the movie (2019)

https://www.imdb.com/title/tt11232496/
Agent X is a movie about a former military contractor who has become a secret agent and is sent on a mission. However, things are rarely that easy, and he ends up tangled in a mess involving cryptocurrency, bitcoin mining, and much more.

Virality (2017)

https://www.imdb.com/title/tt4554360/
In Virality, four stories intersect with a Bitcoin heist, each involving different characters dealing with their own struggles in a developing society.

Bitcoin: The End of Money as We Know It (2015)

https://www.imdb.com/title/tt4654844/
Looking for a crash course on Bitcoin, money, and cryptocurrency more broadly. Well, check out this one for some insights to help you get up to speed if you’re new to the cryptocurrency scene.

StartUp (2016-2018)

https://www.imdb.com/title/tt5028002/
While not a movie or a documentary, this TV show ran for several seasons and has moderately high production values, so if long-form productions are more the thing for you, check out StartUp, where cryptocurrency plays a significant role in the storyline. Better yet, you can likely find this crypto show on Netflix or other streaming platforms in your region.

The Great Reset and the Rise of Bitcoin (2022)

https://www.imdb.com/title/tt17999542/
Another interesting documentary exploring the economic impact Bitcoin can have on society, money, and how we exchange value with one another in the future. As the gold standard has begun to feel like stone-age technology, is Bitcoin the way forward?

Monero Means Money: Cryptocurrency 101, Live from Leipzig (2020)

https://www.imdb.com/title/tt12109930/
Are you a privacy advocate with an interest in cryptocurrency or someone already excited about the potential for Monero? In either case, this crypto documentary could be a great watch for you. Spend a little time with this one and find out why fungibility matters.

Trust No One: The Hunt for the Crypto King (2022)

https://www.imdb.com/title/tt15479902/
Another deep dive into the chaos surrounding the QuadrigaCX collapse and its extremely questionable founder. Should you believe everything you hear? Or is there much more to the story than meets the eye?

The Second Target (2019)

https://www.imdb.com/title/tt10930912/
If you don’t mind delving into the odd low-budget movie, this cryptocurrency film could be worth your time. Coming with some mixed reactions, it’s likely you’ll either love or hate this one, but why not find out for yourself? In either case, it’s always great to support these sorts of lower-budget adventures in film.

Finding Satoshi Nakamoto (2015)

https://www.imdb.com/title/tt5322294/
An attempt to find the ever-mysterious creator of Bitcoin. Have they found the man himself, or is he still just as elusive as ever? While you likely know the answer, sometimes you can still enjoy the journey even if you already know the destination.

The Fakefluencer (2021)

https://www.imdb.com/title/tt14849234/
Follow a man looking for answers after a cryptocurrency investment goes wrong. In a mockumentary format, this one is sure to provoke a few laughs and may even feel a little relatable at times if you’ve ever been in the same situation.

Crypto Stew (2019)

https://vimeo.com/369661301
There are a few quirky short films where the subject and cryptocurrency, and this is one of them, it’s a pretty light-hearted affair that doesn’t take itself too seriously, but it is good for a quick laugh and will only snag a few minutes of your time.

Thanks for Reading

We hope you enjoyed this list as much as we did putting it together. Did we miss any of your favorites? Let us know! If you’re considering diving into crypto after checking out some of these, be sure to check out LocalCoinSwap if you aren’t already part of our great community.

- Adam Tracey
The Ultimate List of VPNs that Accept Crypto
The Ultimate List of VPNs that Accept Crypto

Are you looking to grab a VPN subscription but want to show your support for crypto simultaneously? As it turns out, many companies offering VPN services have jumped to support cryptocurrency payments, so you have an extensive range of options to choose from.

ExpressVPN

Official Site: https://www.expressvpn.com/
Accepts: Bitcoin, Ethereum, XRP

One of the most well-known VPN providers globally, ExpressVPN boasts high-speed servers in 94 countries, so you should be covered from just about anywhere. In addition, they have broad app support for everything from your iOS devices to your PC, enabling you easy access to ExpressVPN on any of your devices. While they don’t have a massive range of accepted cryptocurrencies, they support Bitcoin and Ethereum, which should keep most people happy. In addition, ExpressVPN tends to provide excellent support for those looking to bypass geoblocking for streaming services like Netflix or Hulu. ExpressVPN is known for having very decent speeds on most of their servers, so if you're looking for the fastest VPN on the market, depending on where you live ExpressVPN might fit the bill.

The Ultimate List of VPNs that Accept CryptoSurfshark

Official Site: https://surfshark.com/
Accepts: Bitcoin (BTC), Ethereum (ETH), XRP, and Litecoin (LTC)

One of the comparatively newer players in the VPN game, Surfshark has grown to be quite a significant offering. They seemingly always have a deal going and like to stack on some bonus features to get a few extra eyes on their product. Unlike some other large providers, Surfshark doesn’t limit your device count and is quite competitively priced, making it one of the nicer VPNs to consider if you’re looking for a VPN company that accepts cryptocurrency payments. Speeds are typically very reasonable as well so you shouldn't run into issues there either. Surfshark is one to check out, especially with their recent launch of a full GUI Linux app which not many other providers offer.

The Ultimate List of VPNs that Accept CryptoProtonVPN

Official Site: https://protonvpn.com/
Accepts: Bitcoin (BTC)

If you’re a fan of Prontonmail, one of the best email providers around for the privacy-conscious, you might just find your answer to the best VPN for you in ProtonVPN. Sometimes it’s nice to be able to minimize your subscriptions and keep as many things bundled together to avoid you forgetting precisely who is offering you what, so if you’re already using Protonmail, it’s a bit of a no-brainer. Proton is big on privacy and security, has an excellent interface for their VPN if you prefer that visual experience, and a speedy 10Gbps server network offering respectable speeds. There’s even a free version on offer that doesn’t sponsor itself with advertising or farm your data; instead, it’s subsidized by paid subscriptions which is a great to see and a fantastic way to support those that can benefit most from a VPN but may not be able to afford a paid plan.

The Ultimate List of VPNs that Accept CryptoNordVPN

Official Site: https://nordvpn.com/
Accepts: Multiple

Another heavy hitter in the VPN realm, NordVPN, is another to consider if you’re looking for one of the big plays with a high server count. With one subscription, you can use up to six devices at the same time connected to NordVPN, which should cover the needs of most people. However, it’s still a noteworthy limitation that not VPN providers place on you. A 30-day money-back guarantee is offered, so they seem confident about their services which is always nice to see. If you’re a traveler regularly signing in from different regions, you’ll find yourself at home with a VPN like NordVPN that provides comprehensive coverage and high-server counts.

The Ultimate List of VPNs that Accept CryptoPrivate Internet Access (PIA)

Official Site: https://www.privateinternetaccess.com/
Accepts: Multiple

PIA claims 15 million customers and over ten years in the industry, making them a fairly well-established company. One of the downsides of opting for the latest and greatest offering by new entrants to the VPN market is that you never know how long they will stick around. One of the more interesting features offered by PIA is a desiccated IP, which, if you’ve ever experienced frequent captchas on commonly used websites while connected to a VPN, you are sure to appreciate. Other excellent features include WireGuard support, split-tunneling support for more advanced users, and even open-source software, which many crypto enthusiasts like to support.

The Ultimate List of VPNs that Accept CryptoMullvad

Official Site: https://mullvad.net/
Accepts: Bitcoin (BTC), Bitcoin Cash (BCH)

For those that value their privacy, often even signing up for accounts using personal information can be anywhere from a downer to a dealbreaker. However, if that’s something you hate, Mullvad could be a tempting VPN to consider. They openly encourage payments using cryptocurrencies or even cash, which is rare these days, especially for online companies to offer, let alone encourage. They claim to keep no activity logs or ask for any personal information, which is also encouraging. Support seems to be lacking if you’re looking for a VPN to stream via Netflix or other providers, so if that’s essential for you, consider other options that boast good support for bypassing geo-blocking. Mullvad also has an extensive range of repositories open-sourced over on GitHub, which is always great to see and not something many providers are confident or comfortable doing. If you’re big on privacy, Mullvad deserves a look.

The Ultimate List of VPNs that Accept CryptoVPN.ac

Official Site: https://vpn.ac/
Accepts: Multiple

While a lesser-known VPN provider, VPN.ac provides a noteworthy service and has some benefits that may make it more appealing than more popular VPN options. They sport Dedicated bare-metal servers, WireGuard support, and excellent speeds due to their strong network that has managed to avoid such heavy traffic due to it somewhat flying somewhat under the radar. With support for over 20 countries, most users should find servers near enough to them to be worthwhile. With support for up to 12 simultaneous connections, you can throw all your devices on a single subscription, or at least six if you’re opting to use WireGuard.

The Ultimate List of VPNs that Accept CryptoAtlasVPN

Official Site: https://atlasvpn.com/
Accepts: Multiple

For those a bit more budget-conscious, you may be wondering where the cheapest VPN can be found, and while some are priced better than others, going for bargain bin VPNs will often result in a bad experience. However, some VPN providers are making a name for themselves for both being well-priced and having some good features and service, and one of those is AtlasVPN. With AtlasVPN, you can expect affordable pricing (at least for now) and support for modern features like WireGuard alongside multihop servers. There are some missing features like Linux support in terms of their app and a smaller network, but that won't be a dealbreaker for everyone. Streaming is supported, which leads many people to look for the best VPN deal they can find, and if that’s you, maybe consider something with a lower price and a reasonable offering, and you may just find that in AtlasVPN.

The Ultimate List of VPNs that Accept CryptoPerfect Privacy VPN

Official Site: https://www.perfect-privacy.com/
Accepts: Bitcoin (BTC)

If you don’t mind paying a little extra, Perfect Privacy VPN may provoke interest. They offer some features that are a little harder to find and make a good choice for more advanced users that require a little extra. You can configure multi-hop VPN chains of up to 4 servers, enjoy unlimited connections, and rest a little easier with their no logs VPN policy, which they’ve been adamantly offering since back in 2008. However, one area that they reportedly don’t handle well is streaming, so this may put many potential customers off. However, while you don’t see this provider throwing money at excessive social media advertising or the never-ending on-sale cycle that many do, Perfect Privacy has established itself. It continues to be the VPN of choice for many, so if you don’t mind a few extra dollars a month on your VPN subscription and aren’t interested in streaming over your VPN connection, you may find a plan here to suit your needs.

The Ultimate List of VPNs that Accept CryptoOvpn

Official Site: https://www.ovpn.com/
Accepts: Bitcoin (BTC), Ethereum (ETH), Monero

Like many Swedish VPN providers, this is another that is big on privacy. You may have guessed that already, though, given they accept Monero for payments allowing you to buy a VPN with Monero, which is pretty nice already. OVPN claims not to keep any logs, personal data, or monitor your online traffic. Interestingly they opt to use modern RAM storage, and this means that even if, for some reason, their servers were seized, they’d be unlikely to hold onto any information for very long as a simple reboot would clear any stored data. Another interesting thing about Ovpn is they don’t actually require an email address to sign up, and it’s optional when using Ovpn, which is not very common even among other VPNs that claim to be the best VPN for privacy. Four simultaneous connections are supported, multihop servers, WebRTC leak protection, and even a kill switch built into their desktop app, which they recommend over the browser extension they also provide. Overall a nice offering with OpenVPN UDP/TCP support and many features for those with a thirst for online privacy.

The Ultimate List of VPNs that Accept CryptoShould you use a VPN when Buying Crypto?

VPNs are a valuable part of your toolkit when trying to maintain as much privacy online as possible. While they are not a magic bandaid that ensures privacy, they can be beneficial as part of your online security, nor should you be careless in other ways thinking that a VPN will protect you. However, sometimes a VPN can be beneficial for crypto traders, especially if you live in areas that are not crypto-friendly or regions with unstable economies that may put you at risk of having your funds stolen or otherwise taken from you. So if you’re wondering which may be the best VPN for crypto trading, keep reading.

However, it’s important to note that when using a popular VPN, you may find that your IP address gets flagged when using some crypto trading platforms, which may result in issues or even your account being locked or otherwise restricted. At LocalCoinSwap, we respect your reasonable right to privacy and provided you are following the terms of service and trading fairly, you will not face any issues for simply using a VPN.

How to use VPN to Buy Crypto?

Once you have registered with your VPN provider and have everything set up, simply connect to a nearby server and log in to your account. If you’re going to trade crypto using a VPN, it’s crucial to spend the time to find a reliable and reputable VPN provider that ideally doesn’t keep logs and respects your privacy. After you’re connected to your VPN, you can simply continue browsing as you normally would, including trading on a P2P marketplace like LocalCoinSwap.

Can I Pay for a VPN with Bitcoin?

A growing number of VPN companies support payment via Bitcoin and other popular cryptocurrencies like Ethereum or even things like Monero, which many cryptocurrency enthusiasts will find a great option. As for actually performing the payment once you reach the checkout part of the sign-up process, once you’ve selected a provider and plan, it’s generally time to choose a payment method. So, if a company supports cryptocurrency payments, it will typically be offered to you at this stage.

What is the Best VPN for Crypto Trading?

For some people, their primary use case for a VPN may be streaming while avoiding geoblocking or for added privacy when trading crypto. For others, they may do everything online with a VPN and strongly value privacy. Budget can also be a significant factor, and a wide range of offerings fall somewhere between the biggest budget VPN through to the most premium VPN options. There’s a range of reasons to use a VPN, and not everyone will have the exact same needs, be in the same locations, or have the same budget. As such, the best VPN for crypto traders, or anyone else for that matter is simple, it's which ever one suits your needs while respecting your privacy the best.

- Adam Tracey
30 Cryptocurrency Books to Expand Your Knowledge
30 Cryptocurrency Books to Expand Your Knowledge

In the early days of cryptocurrency, it was challenging to find many books to soothe your thirst for more information. However, as cryptocurrency has grown into such a vibrant and thriving ecosystem of ideas and exploration, so have the options for good books on the topic. So, whatever you’re looking to learn about Bitcoin, blockchain, or cryptocurrency in general, you’ll find something on this list to add to your shelf.

Mastering Bitcoin: Programming the Open Blockchain

One of the most well-known Bitcoin books is Mastering Bitcoin by Andreas Antonopoulos, and for a good reason. It is designed to help you navigate the world of Bitcoin and understand everything you need to dive in headfirst and start embracing Bitcoin. It starts off with a broad introduction that is suitable for almost anyone and later delves into the more technical aspects of Bitcoin. So if you’re looking to increase your foundational knowledge or get a friend or family member excited about Bitcoin, this book is for you.

Author: Andreas Antonopoulos

The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology That Powers Them

Cryptocurrency and blockchains can be intimidating to those beginning to learn for themselves, but books like The Basics of Bitcoins and Blockchains are a great place to start. Start with the history and the basics of Bitcoin and other popular cryptocurrencies and move on to more advanced topics as you progress with what you’ve learned. Many topics are covered, including avoiding scams, risk mitigation, digital wallets, crypto regulations, and even the basics of using cryptocurrency exchanges.

Author: Antony Lewis

Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond

The book Cryptoassets gives you a range of insights into investigating and valuing digital assets, improving your portfolio management techniques, managing risk, and providing practical guides on various parts of the industry. While focused on the investment side of cryptocurrency, it may be a helpful way to see the cryptocurrency space from an investment perspective.

Author: Chris Burniske, Jack Tatar

Blockchain Revolution

Blockchain is an incredible technology shaping the world, and with Blockchain Revolution, you can see how this game-changing technology could affect the global economy. Blockchain has the potential to change how we deal with finances, health-care records, voting, insurance claims, and so much more. It’s a book that is approachable while still providing valuable insights. So if you’re worried about getting left behind by the revolution, jump into Blockchain Revolution yourself and learn more.

Authors: Alex Tapscott, Don Tapscott

The Age of Cryptocurrency: How Bitcoin and the Blockchain Are Challenging the Global Economic Order

Bitcoin has grown from a niche project to something that is affecting the global economy. Yet, while you can use it to purchase a range of goods and services and exchange value with others around the world, few understand what it is and why they should genuinely care about it. The Age of Cryptocurrency helps you navigate a cyber-economy and think about what the world will look like as further adoption of cryptocurrency continues.

Authors: Paul Vigna, Michael J. Casey

The Bitcoin Standard: The Decentralized Alternative to Central Banking

When Bitcoin first came onto the scene after an announcement on a small mailing list in 2008, no one had any idea of what it would go on to become. However, it has grown to be an economic and technological force that is shaking up the world in incredibly interesting ways over the years. Explore how humanity's most significant achievements have come to those with sound money and why Bitcoin helps to provide this security.

Author: Saifedean Ammous

The Book of Satoshi

The creator of Bitcoin is a mysterious figure, one that to this day has never been truly identified or proven to be any specific individual or group. The Book of Satoshi delves into the mystery surrounding this enigmatic character and helps piece together the available information about them. Satoshi Nakomoto launched the Bitcoin revolution and disappeared from the internet altogether. If you want to learn why this may have happened or just explore the mystery, this book may be an excellent fit for you.

Author: Phil Champagne

The Truth Machine: The Blockchain and the Future of Everything

The world has moved to a digital standard for just about everything. However, relying on these aging systems has put us in a position where we are less in control of our data than ever before. As a result, many are looking to move away from the legacy systems that control our data and regularly leak our valuable personal information. The Truth Machine explores how self-empowerment and much more is possible with the help of blockchain technology.

Authors: Paul Vigna, Michael J. Casey

Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money

The concept of a new currency that didn’t follow the rules of traditional systems that existed before it started out as a bit of an oddity, yet it has grown into a technology that spans a multi-billion dollar industry. People of all kinds from around the world are throwing their support behind Bitcoin as it has shown the potential to free its users from the restrictions and roadblocks that can result from relying on the legacy financial system. Digital gold starts by following the rise and early growth of Bitcoin through the eyes of many of the eccentric members of the community that took to this technology in its early days.

Author: Nathaniel Popper

Bitcoin Billionaires: A True Story of Genius, Betrayal, and Redemption

While many know of Tyler and Cameron Winklevoss from their involvement in Facebook in the early days, many in the cryptocurrency space know them for their participation and support of Bitcoin. However, after diving into the venture capital space and soon discovering that their past at Facebook was a roadblock, they found themselves faced with a new proposition of a technology that could be the biggest thing to come or nothing at all, and they bet big that there would be something to it, and were rewarded for their gamble. Learn more about how these brothers found themselves at the forefront of the early Bitcoin boom.

Author: Ben Mezrich

The Internet of Money

Many books on Bitcoin approach it from the angle of how, but not as many focus on the why, which is just as crucial to understanding the actual value of Bitcoin. Bitcoin affects more than the financial world, and Andreas explains why this new evolution is more than a digital currency. There are massive implications for Bitcoin, and perhaps it can grow to be just as powerful a technology as the internet has been for recent generations. If you’re open to exploring the more significant value propositions of Bitcoin, The Internet of Money is a book you should definitely pick up.

Author: Andreas M. Antonopoulos

Cloudmoney: Cash, Cards, Crypto and the War for our Wallets

Is cash being left behind due to the convenience of digital, or is there more to this push to remove cash from your wallet and have you filling your pockets with cards and phone with digital accounts that track every purchase? Cloudmoney tells the story of how cash has been under attack by big money lobbyists fed by tech and finance forces with an interest in moving the world to new forms of money. So what happens when we leave cash behind, is privacy doomed, and is the possible end goal of cloud money closer than we think?

Author: Brett Scott

Digital Cash: The Unknown History of the Anarchists, Utopians, and Technologists Who Created Cryptocurrency

While Bitcoin is often known as the first attempt at creating a digital currency, it’s actually only the first to catch on. However, behind this Bitcoin phenomenon, there is a range of exciting stories and even more interesting people who, through the years since the 1970s, have been exploring this concept in a range of curious ways. If you’re looking for something a little outside of the usual Bitcoin or blockchain books, this one might be worth a look.

Author: Finn Brunton

Blockchain Bubble Or Revolution: The Future of Bitcoin, Blockchains, and Cryptocurrencies

There are a lot of claims made when it comes to cryptocurrency, but the best way to discern for yourself where you stand is to look at both the strengths and weaknesses of this technology. By leveraging real-worth case studies, Blockchain Bubble or Revolution looks to cut through the hype and provide a more balanced and understandable analysis of what exactly is going on with cryptocurrency. Learn about everything from public to private blockchains and even what you should be prepared for as we move forward with blockchain into the future.

Authors: Parth Detroja, Neel Mehta, Aditya Agashe

The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze

In the early days of cryptocurrency, if you wanted to create your own, you usually had to create your own blockchain, and standing out when Bitcoin was a growing behemoth was challenging. However, with the launch of Ethereum, suddenly, things became a little more interesting. Tokens have become a standard part of the average crypto user’s vocabulary. This was made possible with Ethereum enabling developers to leverage an existing blockchain without having to bootstrap their own and attracting enough user base to sustain and secure itself. As a result, Ethereum pushed the cryptocurrency space into a new world where almost anyone could launch a token. This book attempts to show the struggles of the crypto market to adapt to the struggles for power, money, and culture.

Author: Laura Shin

The Crypto Book: How to Invest Safely in Bitcoin and Other Cryptocurrencies

If you’ve heard of cryptocurrency and want to learn more about the potential for investments in the crypto market, this book is for you. Find out what exactly all this crypto stuff is, why it exists, and where the industry might be moving in the near future. In addition, it covers many common mistakes made by new crypto investors and attempts to educate you on safely exploring investment opportunities in the crypto market.

Author: Siam Kidd

Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction

Want an introduction to the often misunderstood world of crypto? This self-contained book might be a good starting point as it explores crypto and what some are calling the new global money for the internet age. As a newcomer to crypto, you’ll likely have many questions. This book covers a lot of areas that will hopefully help you better understand important aspects of crypto like decentralization, altcoins, Bitcoin, blockchain, and a lot more. It is supported by a website that enables you to take what you’ve learned to the next level by providing companion videos for each chapter and even problems for you to go off and solve as you learn.

Authors: Arvind Narayanan, Joseph Bonneau, Steven Goldfeder, Edward Felten, Andrew Miller

The Truth About Crypto: A Practical, Easy-to-Understand Guide to Bitcoin, Blockchain, NFTs, and Other Digital Assets

If you’ve been looking for a fun and easy-to-follow introduction to digital assets across a broad spectrum of the blockchain ecosystem, you may find yourself being drawn to The Truth About Crypto. Explore the difference between cryptocurrency and other types of digital assets that provides a broader perspective on what precisely these assets can do and why they might be appealing to you as an investor in the space.

Authors: Ric Edelman

Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies

We often take money for granted regarding how it actually works. What Layered Money attempts to investigate is how money has evolved over time to become layered. From gold to digital currencies, the lines begin to blur as to what exactly money can mean. If you want to investigate for yourself how Bitcoin has started a massive shake-up of our international monetary systems to the stage where central banks are exploring creating their own blockchain assets and digital currencies.

Author: Nik Bhatia

Blockchain Basics: A Non-Technical Introduction in 25 Steps

Depending on how you learn, you may find that breaking down a concept like a blockchain technology into a series of digestible and approachable steps is a fantastic way to increase your knowledge. You can skip the jargon and complex math; instead, just work your way through this book which makes an effort to bridge the gap between highly-technical explanations and the business side of blockchain. Start with the core knowledge needed to understand what a blockchain is all the way through to major application scenarios that can have you well on your way to being an informed and active member of the crypto community.

Author: Daniel Drescher

The Blocksize War

Between 2015 and late 2017, there was a lot of commotion in the Bitcoin community, something that is now often referred to as the Blocksize War. While it was easy to look at this from the outside and assume it was simply a passionate debate about the amount of data that should be allowed in each Bitcoin block, it raised a lot of questions. With some prominent players throwing their weight around and conflict spilling out beyond the Bitcoin codebase, there is a lot to explore when it comes to who was making noise, their motivations, and where all this went in the end.

Author: Jonathan Bier

Cryptocurrency Investing for Dummies

While the “for Dummies” series of books has become somewhat of a meme, many of them provide easy-to-approach information that is easy to understand and digest. The book Cryptocurrency Investing for Dummies allows you to go from a passing interest to have a grasp of some of the things you’ll need to navigate the cryptocurrency markets. Find out how to speculate on the top cryptocurrencies no matter the market conditions or sentiment and navigate the new thriving cryptocurrency markets that never sleep.

Author: Kiana Danial

The Book of Crypto: The Complete Guide to Understanding Bitcoin, Cryptocurrencies, and Digital Assets

If you want an introduction to crypto that takes you beyond the rudimentary and touches on interesting topics like DeFi, NFTs, and many other curious topics, The Book of Crypto could be your answer to scratching the surface. The crypto ecosystem is growing in complexity as new and experimental ideas are playing out on the center stage. It’s easy to feel like you’ve been left behind as the crypto space pushes forward, but you can get on top and start understanding the potential impact on the future of money and how cryptocurrency can take us there.

Author: Henri Arslanian

Mastering Ethereum: Building Smart Contracts and Dapps

Again Andreas enters the list with another high-quality offering that you shouldn’t miss. Start with learning the basics of running an Ethereum client and progress all the way through to building your own decentralized applications that leverage multiple P2P aspects. Companies worldwide are exploring Ethereum and EVM compatible blockchains, and now you can use Mastering Ethereum as your gateway to becoming a part of that yourself.

Author: Andreas Antonopoulos

Understanding Bitcoin & Cryptocurrency: Beginners Guide to the Crypto Revolution

Suppose you’re interested in gaining the information to make informed decisions about Bitcoin and cryptocurrency in general. In that case, Understanding Bitcoin & Cryptocurrency may help you achieve more awareness and understanding of this new phenomenon. Furthermore, the blockchain scene is constantly growing, and if you decide to start checking out books like this, perhaps you can start growing your knowledge of blockchain.

Author: Martin May-Clingo

The Blockchain Developer

Blockchain development is becoming increasingly in demand. Suppose you are one of the few that understand how to build with blockchain technology and build your own scalable blockchain projects. In that case, you’ll be well-positioned to become an integral part of the blockchain community. Find out how you could use Bitcoin, Ethereum, NEO, EOS, and Hyperledger to begin your own projects and immerse yourself in what it is to be a blockchain developer.

Authors: Elad Elrom

The Infinite Machine: How an Army of Crypto-hackers Is Building the Next Internet with Ethereum

While we’ve touched on many Bitcoin and blockchain books in this list, many intriguing books are jumping into Ethereum that are worth your time. One to consider is The Infinite Machine, as it starts with the creator Vitalik Buterin and follows the ideas as they unfold and the chaos that sometimes results. Step through the technology and innovation to see what was unleashed as Ethereum grew to the point where it now supports thousands of independent projects and is considered one of the biggest blockchain projects in the world.

Author: Camila Russo

The Business Blockchain

Many people become curious about the business potential of blockchain, and this book aims to quench that curiosity. Find out some of the new business models and possibilities that blockchain brings to the table, and perhaps inspire your own ideas for this innovative space. Then, progress through seven chapters to get a grasp on why blockchain matters for business and where it could take you.

Author: William Mougayar

Cryptocurrency Mining For Dummies

While this is the 2nd entry to this list from this range of books, it should be no surprise given how broad the topics this series strives to cover to see more than one about cryptocurrency. While many beginners to crypto are quick to jump in and start performing transactions, others find themselves enamored with this so-called “mining” used to generate new cryptocurrency on many blockchains. With this book, you can find out what this actually means, how you might be able to do it yourself, and whether or not you’ll need a pick and shovel to get started.

Authors: Peter Kent and Tyler Bain

Bitcoin Money: A Tale of Bitville Discovering Good Money

Have you wanted to broach the concept of Bitcoin with your children, or maybe you want a gift for a Bitcoin-crazy friend that has children? In either case, Bitcoin Money could fit the bill. Explore different kinds of money in a story suitable for all ages, and you never know, you might just learn something new yourself about this magical internet money.

Author: Michael Caras

- Adam Tracey
Cashing Out Your NFT Gains
Cashing Out Your NFT Gains

If you’ve been looking at the NFT market for the first time and wondered how you could convert these digital assets into real cash, you may be confused, especially if you are new to the crypto markets. Thankfully, there is a very approachable pathway from having an NFT in your wallet to converting it to cash that you can physically spend in the real world.

Can you Get Cash for an NFT?

As the NFT market has grown significantly in recent years, many traders wonder if you can get cold hard cash for your NFTs. While you may find someone willing to buy your NFT for cash directly, that isn’t typically an easy thing to do. However, you still have options to get some money for your NFT with a small amount of additional effort and a little crypto knowledge.

How can you Sell an NFT for Cash?

The first step is to convert your NFT to a popular cryptocurrency like Bitcoin or Ethereum. Doing this has varying degrees of difficulty depending on the network on which the NFT is based and how popular that specific NFT is, which can affect demand. Opensea is a popular NFT marketplace, and often a great way to complete this first step is to use this or another NFT marketplace to list and sell your NFT for crypto.

Once you have some popular cryptocurrency instead of the NFT, you now have reached the second stage of the process, where you can move on to convert it to cash. While many order book exchanges only offer limited payment options and typically never support cash trading, it’s not the only option. LocalCoinSwap is one of the most popular P2P marketplaces and is one of the only options available for trading cash-in-person or cash-by-mail. If you want other payment methods like PayPal, bank transfer, or just about anything else, P2P trading on LocalCoinSwap is perfect for you as well.

Simply head over to LocalCoinSwap and browse thousands of offers from vendors around the world. Once you find an offer that meets your needs, you can follow the prompt to cash out your NFT profits fast. It doesn’t have to be challenging to lock in profits, and just because you started with an NFT doesn’t mean you can't end up with cash either.

How Much does it Cost to Transfer an NFT?

While in the early stages of the NFT boom, you would only really see NFTs being minted on Ethereum, but that has long since changed, with a range of blockchains providing support for tokens and NFTs specifically. As a result, there isn’t a clear-cut answer to this, but it is easy enough to get a rough estimate. For example, if you want to transfer an NFT on Ethereum, you can use the Etherscan gas tracker to get an idea of how much to expect to pay when performing token transfers on the network. For other established blockchains, you’ll be able to find similar tools without looking very far either.

Where can I buy an NFT with Cash?

While you may, in a rare case, come across someone willing to sell you an NFT for cash directly, the better route to take is by first converting cash to a commonly accepted cryptocurrency. For example, you can start with cash and then use a P2P marketplace like LocalCoinSwap to convert it to crypto via several different payment methods.

If you can find local bitcoin traders operating in your region, this can be a great option, but if you do not or you’d prefer not to meet directly, there are plenty of other payment options available. For example, you could trade using a cash deposit or cash-by-mail, and there are plenty of different approaches as well. Getting funds into the NFT market is easy when you start with a P2P trade; you’ll have some crypto ready to go in no time.

How Much Does it Cost to Sell an NFT?

If you are trading with someone directly, you’ll only have to account for the network fees. However, this is never recommended as it’s highly likely the other trader will scam you as there’s no reason for them to hold up their end of the deal once they’ve received your NFT. Most NFT traders use an NFT marketplace to exchange their NFTs for fungible cryptocurrency to avoid this. How much specific marketplaces can vary, and it’s always best to check their website for the fees listed before selling your digital asset on that marketplace.

The Best Way to Cash out Your NFT Gains

Peer-to-peer marketplaces are the best way to cash out your fungible cryptocurrency and gains from your NFT trades. Additionally, suppose you are willing to accept less commonly found payment methods. In that case, you may even find yourself able to make an additional profit as you sell your NFT for cash, thanks to the natural supply and demand dynamics that occur in a P2P marketplace.

Start exploring P2P trading with free crypto guides or just jump right in over at LocalCoinSwap and find out why so many traders opt to trade P2P.

- Adam Tracey
Top 5 Cryptocurrency Debit Cards
Top 5 Cryptocurrency Debit Cards

If you’ve been in crypto for a while, you’ve likely heard about these cryptocurrency debit cards doing the rounds but simply don’t know where to start looking. While there’s a range of options, crypto debit cards aren’t a one size fits all solution as most of them only support specific regions and cryptos. So it’s time to find out if adding a crypto card to your wallet is a plus or a bust to add to your trading toolkit.

While P2P trading is often a far better option as it provides you extremely high flexibility to get paid or send payment in whatever way suits you, it’s always good to know what options are out there for expanding your ability to trade your crypto in and out of the markets. None of the following should be considered endorsements and is based on publicly available information. Always do your own research before putting your cryptocurrency somewhere new or handing over personal information.

Wirex

One of the older players in the crypto debit card space, Wirex, has been around for some time now. So If you’re looking to spend money on one of these cards, having a company that has been around a little longer is a good way to ensure you aren’t likely to face a sudden shutdown or discontinuation of service in your region.

Wirex cards are supported in 130 countries, enable you to use over 150 cryptos and fiat currencies, and boast several million customers.

You can earn up to 2% cashback on in-store or online purchases via their Cryptoback rewards program that pays out in their token WXT, which is a great value add to users of the Wirex cards. Top-ups can be performed several ways using crypto but can also be performed via your other debit or credit card if that’s something you’re interested in doing.

With no monthly maintenance fees and even some free ATM withdrawals up to $400 a month, the Wirex card can be one of the best crypto debit cards to consider. Just be sure to investigate your specific spending habits to ensure that you won’t get caught out by any unexpected fees, as pricing lacks a little transparency. In addition, you’ll likely find that some additional costs are creeping into the spreads on conversions between crypto or traditional fiat currencies, so that’s something to consider.

Top 5 Cryptocurrency Debit Cards

Want a crypto debit card with broad support for a wide range of currencies and locations? Then, Wirex might tick your boxes.

Unbanked

A newer entry to the cryptocurrency debit card list is the Crypto Card from Unbanked. Unlike many others that rely on apps to support their card with few other options to fund the card. The Unbanked debit card enables you to fund your card using the Visa Readylink program via direct deposit or cryptocurrency transfer. So while you may be looking for a bitcoin debit card or something specific, the Unbanked card offers you more options.

One of the things to be aware of when looking into the debit cards offered by Unbanked is that funding your account results in the funds being converted to their token UNBNK. The main concern with this is that you’re exposed to the volatility of the cryptocurrency, which may be something that you consider outside your risk profile.

Unbanked offers support for several different cryptocurrencies when funding your account, including some less common options like Uniswap (UNI) and Basic Attention Token (BAT, alongside staples like Bitcoin (BTC), Tether (USDT), and USD Coin (USDC). Currently, it appears that cards are available to customers in the United States, Europe, and Latin America, which covers some notable areas but won't be suitable for everyone.

Top 5 Cryptocurrency Debit Cards

Like the flexibility of having multiple ways to fund your card and live in a supported region? It could be that the Unbanked debit card catches your attention.

Bitpay

If you’ve been checking out using bitcoin and other cryptocurrencies online, you’ve likely been face-to-face with Bitpay in the past. While better known for their payment processing solutions for merchants, they also offer a popular crypto debit card. Like Wirex, Bitpay has been around a long time and is very much well-established, so it is less likely to just fall off the map suddenly as can be the risk with some of the latest options.

Boasting fast reloads, flexibility, high security, broad access, and rewards, the Bitpay card can be an excellent option to investigate when searching for the top crypto conversion cards. Bitpay relies heavily on their app, which, to be fair, these days is not uncommon but is something that may irk the more hardline users looking for a more traditional experience.

On the other hand, with the app, you can get set up with a wallet quite fast, have it loaded, and be on to ordering your card in just a couple of minutes. So if you’re looking for a prepaid MasterCard that can enable you to spend your crypto backed by one of the older companies in the crypto space, Bitpay could be the answer.

Top 5 Cryptocurrency Debit Cards

Want a debit card to convert crypto from a reputable brand in the space? Then, the Bitpay crypto debit card could be the answer.

Crypto.com

If you’re looking for something a little flashy with all the bells and whistles, the crypto.com crypto debit card might be for you. While one of the newer entries to the market, this card is already one of the most popular and is also one of the most competitive options in terms of fees.

While cashback has been offered on spending there are report reports of rewards changing for the worse recently, so be sure to check for official announcements before looking further. No annual fees, and their card is actually made of metal, something you likely know if you’ve seen any of their abundant marketing since their card launched. Like some other cards, such as the card offered by Wirex, you can also top up your card with fiat, alongside a range of cryptocurrencies. There’s also a range of “tiers” of cards, so if you’re considering this one take a close look and be sure to check the fine print to understand exactly what you’re getting yourself into.

Again the app is very strongly connected to the card, with the card acting more as a secondary product, albeit a well-rounded one. The crypto.com app features a range of features, including paying interest on some cryptocurrencies stored in the wallet, though this appears to require you to stake some of their token Cronos (CRO).

Top 5 Cryptocurrency Debit Cards

If you’re looking for one of the newest entries to the market, check out the crypto debit card offered by Crypto.com

Nexo

For those of you that like to leverage the value held in your cryptocurrency without having to sell them, the Nexo card is an interesting offering. Using your Nexo card, you can spend the value of the crypto stored in your Nexo wallet; this offers a more unique alternative that feels more like a credit card than it does just another crypto debit card.

Rewards are also quite good with a Nexo crypto card. For example, you can receive an instant 2% cashback on purchases. In addition, using Nexo, you can earn quite good interest with claimed rates of up to 17% of annual interest. Unlike most other companies with similar offerings, Nexo offers a daily payout and enables you to withdraw your funds at any time. However, like all of these lending and rewards programs, it’s crucial you take the time to understand any downsides or potential risks associated with them. It's not something you should jump into without adequate understanding.

If you think Nexo might be a good choice for you, we have some great news! You can trade Nexo tokens P2P over on LocalCoinSwap, enabling you to experiment with all that Nexo offers while trading Nexo tokens on the most popular non-custodial marketplace.

Top 5 Cryptocurrency Debit Cards

If you find crypto lending an interesting idea and want to access the value in your assets without selling them, perhaps the crypto debit card available from Nexo may suit you.

Conclusion

While there's a range of cryptocurrency debit card options they all have their pros and cons, and many are only available in specific regions. The best thing to do when trying to decide on a crypto card you may be interested in is to first decide what's important to you, which cryptos you want to use, and continue on by investigating the many options available with these things in mind.

If you do decide to get yourself a debit card that supports crypto exchange, be sure to check back in now and then to ensure you're still getting a good deal, don't be afraid to mix things up if a better option comes along in the future!

- Adam Tracey
Buy & Sell Crypto with Cash by Mail
Buy & Sell Crypto with Cash by Mail

While cash-in-person trading is still a popular choice for many, one less explored option is growing in popularity as traders realize they can gain many of the same benefits while avoiding the potential downsides that can sometimes come with other types of crypto for cash trading.

What is Cash by Mail?

Cash by mail simply describes sending payment in the form of cash by using the postal service, couriers, or other delivery agents. It’s an excellent payment method for trading P2P as it enables a straightforward way to convert crypto to cash or purchase crypto using cash.

Buy & Sell Crypto with Cash by MailWhy Might you Consider Trading with Cash by Mail?

Cash trading is revered for its increased potential for privacy among P2P traders. Especially in regions where financial security and privacy as crucial to your well-being. While one of the oldest ways to trade bitcoin and other cryptocurrencies, cash trades are still highly prevalent.

When trading in person with cash, you have to accept that you’ll likely be filmed during your meeting when trading in a public place. When dealing with money by mail instead, you can avoid this concern and reduce potential issues you can face when meeting with a person in a public place for any kind of exchange.

If you live in a region where the postal system is typically reliable or have access to suitable courier services, cash by mail can be an excellent option to consider when converting your cryptocurrency to cash or getting some money into the market quickly.

How to Trade with Cash by Mail Near YouHead over to LocalCoinSwap and use the search bar to filter for cash by mail trades and select a suitable location.Sort through the available offers and see if any match your preferences; just be sure to read the offer terms of each trade you find interesting.Once you find a suitable trade, press the buy or sell button, and you’ll be prompted to input the specific amount you would like to trade.If the other trader accepts your trade request, simply follow the prompts to complete your first trade.Buy & Sell Crypto with Cash by Mail

If you cannot find a suitable trade offer, you can create your own offer by selecting the create offer option from the menu. It takes just a few seconds to create an offer and have it live on the marketplace for other traders to find.

Tips for Receiving Cash in the MailRecord yourself opening the package in one complete takeConsider using a post office box for increased privacy when possibleChoose reputable vendors to minimize the potential for disputesEnsure someone is available to collect the package when its due to arriveAsk the vendor to include a custom note to avoid third party shipmentsDon’t finalize trades before receiving your packageTips for Sending Cash in the MailFilm the packaging process in one complete takeDon’t cut corners and package up cash at the post officeUse insurance and licensed couriers where possibleMark the package in unique ways to make disputes easierBe discrete, and don’t make it obvious you are shipping cashAlways send with tracking, so the package’s journey is transparentDisputes when Trading with Cash by Mail

When buying bitcoin or other cryptocurrencies from an experienced and active P2P vendor that offers cash by mail trading, you are unlikely to run into disputes frequently. However, as with any form of exchange, it’s always good to plan ahead if it does happen one day.

The biggest thing to be aware of when performing these types of trades or sending cash in the mail for any reason is that being transparent and recording the critical parts of the process can help protect you later, which goes for both sides of the trade. Whether you’re the buyer or the seller in the transaction, recording your interactions with the package is crucial to protect yourself and show that you are playing your part honestly.

For example, before opening cash by mail packages, you can grab your phone and film yourself opening it, or if you have someone else around to assist you, have them hold the phone for you. It might feel excessive when you think about doing this, but you’ll undoubtedly feel differently about that if a trade goes to dispute. Also, showing the package is completely sealed and opening it in the same clip without any cuts can clearly show the state you received the package and what you received inside it.

If you’re considering becoming a cash-by-mail vendor, making an effort to record your packaging process is also vital for you. The only difference is you want to film yourself packaging the money and sealing it in the package before shipping. Recordings like this can make a huge difference in having a dispute resolved in your favor swiftly without excessive back and forth, especially if the other party hasn’t done the same and wasn’t as organized as you.

Is it Legal to Send Cash by Mail?

In many regions, it is legal to send cash by mail. However, many areas have restrictions on the amount of money you can send or how it should be handled when packaging or sending. So be sure to check your local rules and regulations before sending cash in the mail, whether that is for a crypto transaction or anything else for that matter.

Can you Trade Cash by Mail Internationally?

Cash by mail trades are best performed when you are situated reasonably close to the counter party to avoid excessive postal delays. Typically being in the same state or territory as the other trader will be enough for a smooth experience. As a result, it’s not typically recommended to trade using cash by mail when trying to trade internationally. It may even be against the laws of the countries involved. It’s always best to use payment methods suited to your circumstances or preferences, and in this case, many other payment methods are better suited to cross-border payments.

Buy & Sell Crypto with Cash by MailShould you use Tracking?

Tracking is essential for cash by mail trades. It helps keep track of where the package is and when it was initially shipped and delivered. Not only will you be able better to keep track of these critical parts of the trade, but your trading partner will also be happy they can follow along as well. Also, in a dispute, it will be easy to show the history of that package to get the trade resolved as fast as possible. Tracking is inexpensive and should never be disregarded, and it’s always important when sending anything valuable, especially money.

Is Cash by Mail Safe?

In many parts of the world, there are relatively reliable options for posting valuable items, be that through the traditional postal system in the region or via things like third-party courier services. Many traders opt to use package insurance to help protect against losses should the package get lost in the postal system. If you live somewhere where mail frequently goes missing or is otherwise interfered with, cash by mail may not be suitable for you. Still, it’s a reliable way to trade in many parts of the world that can sometimes even be faster than a bank transfer between different banks.

Conclusion

Cash by mail is an often overlooked way to trade crypto privately, especially when using a post office box. So if you’re someone who values the benefits of dealing in cash but doesn’t like the idea of trading in person or would just prefer the convenience of cash by mail, this payment method might be perfect for your next trade!

- Adam Tracey
Charities You Can Help with Crypto Today
Charities You Can Help with Crypto Today

Many of us have had the opportunity to be exposed to such rapid growth in the crypto community; in some cases, it’s even been life-changing for many people. So if you feel like you should share some of what you’ve gained from crypto, or maybe you just have a little more than you need, donating to charity is an excellent way to help others.

Donating to a charity that accepts cryptocurrency can be a way to give while supporting something important to you already, cryptocurrency. Thankfully, a growing number of charities are now realizing that accepting crypto donations can really make a difference, and so can you.

Backpack Bed for Homeless

A charity that provides sleeping bags and backpack beds to those in need, Backpack Bed for Homeless offers practical help to those in need. Providing shelter enables those in need and sleeping rough to stay warm and receive at least a hint of comfort. In addition, you can donate multiple types of crypto and help make a difference to homeless people. If you are eligible, you may even be able to receive a tax deduction, which is always a welcome bonus that can be even better when you’re helping someone.

If you want to help someone struggling even to stay warm, Backpack Bed for Homeless is a way you can do just that and help people feel just a little bit safer.

Save the Children

Working to protect children in desperate situations from starvation, diseases, and other disasters, Save the Children helps kids in 116 countries worldwide. They also help produce resources to help spread essential information about health, education, child protection, and humanitarian issues. With a mission to prevent preventable causes of death in children while ensuring they also have the essentials like education covered, Save the Children is an easy cause to get behind.

Save the children has been accepting bitcoin donations since 2013, so if you want to support their efforts, check out Save the Children, you can donate with a range of cryptos.

Habitat for Humanity

Having a home of your own is an incredibly powerful thing, and this is something that Habitat for Humanity strives to provide. As a not-for-profit housing provider for low-income families and other vulnerable people, Habitat for Humanity helps access safe shelter, water, sanitation, and some of the essentials we need as humans to thrive. They’ve helped over 39 million people, and over a million people have volunteered for their projects.

For many of us, a home is something we take for granted; for many others, the idea of a home is a dream that seems too far away. So maybe it’s time to see if Habitat for Humanity can help you spread some kindness with a crypto donation.

The Water Project

Water is essential for all of us to survive. Yet, access to clean drinking water is still not available to everyone. Access to clean water sources can make or break a community, and the results can be devastating. It’s impossible to focus on education, work, and supporting your family when your most basic needs like water aren’t being met, which is a massive problem The Water Project is trying to solve. When donating to this charity, you can even choose directly to contribute to specific communities, which can help you feel better connected to where your donation is going.

The challenging work performed by The Water Project affected hundreds of thousands of people, and you can help them affect more people by donating some of your cryptocurrency.

Red Cross

If there’s a charity that almost everyone has heard of before, it’s definitely the Red Cross. The goal of the Red Cross is to relieve causes of suffering around the world. Whether through blood drives, responding to natural disasters, and so much more. Another area where the Red Cross places a lot of effort is training people with life-saving skills, be that CPR, swimming, or other potentially life-saving training. The charity relies heavily on donations and volunteers to perform the work they do, so your donations can help this charity reach more people and affect their lives in positive ways.

For those interested in putting their crypto to work, the Red Cross may be an excellent solution the next time you’re looking for a worthy cause to support after.

Watsi

Healthcare is important for all of us, yet many people don’t have access to public healthcare solutions or have the ability to afford medical insurance. Watsi allows you to directly affect the lives of others by funding life-changing surgeries for people around the world. It’s hard to argue that everyone should be able to get the medical help they need, and should you choose to donate, you can help make sure someone is getting the treatment they need.

If a direct cause and effect are important to you when donating to charities that accept bitcoin or crypto in general, Watsi might just tick some boxes for you.

Rainforest Foundation

Supporting indigenous and traditional communities that inhabit the world's rainforests helps protect the people who live there and enables them to better foster these beautiful parts of the world. Sustainability is the key to the future of rainforests, and with the changes happening to the world around us, sometimes it’s important to remember the massive value they provide.

If you’re interested in supporting important cultures and isolated communities while helping to protect the lands they inhabit, the Rainforest Foundation could be perfect for your next crypto donation.

Tunapanda

While this charity has an interesting name, it’s also a strong meaning. In Swahili, the word means ‘we are growing. Tunapanda runs technology and other educational courses in struggling parts of East Africa. With a goal to train lifelong learners, Tunapanda helps people empower themselves in ways that can change their lives.

Education, collaboration, and building stronger communities are possible through education, and your donation may just be able to help with that at Tunapanda.

Encourage Your Favourite Charity to Accept Crypto

If you have a charity that you love, consider suggesting they consider accepting crypto the next time you donate. It shows that demand is there and helps grow the options for the cryptocurrency community to donate directly in a way that feels right for them.

For all of us who have more than we need, there are always many more people who don’t even have enough help to get themselves the necessities or people trying to change the world in powerful ways that could use our support.

- Adam Tracey
Top 10 Best Play-to-Earn Crypto Games
Top 10 Best Play-to-Earn Crypto Games

Recently, one of the driving forces in gaming is exploring new models of gaming that aren’t just filled with micropayments and instead leveraging the power of blockchain technology to create experiences that can be fun and give their players the potential to own digital assets or even earn some money.

It’s time to jump in and find out why play-to-earn games are booming and becoming one of the most entertaining parts of the cryptocurrency revolution. Just be sure to always do a little extra research, especially before investing in play-to-earn games.

Axie Infinity

Build and refine your team of Axies to go to battle with other players. One of the most well-known blockchain-based crypto games, Axie Infinity, is a fantastic option for those looking for a fun PVP experience. The only major con for Axie Infinity is that it can be a little expensive to get started. However, battle winners are rewarded with SLP (smooth love potion), which has a strong economy in the Axie Infinity marketplace and can easily be exchanged for fiat in third-party markets due to the demand by the community around this game. You can also use SLP to breed your Axies to grow your team further.

If you’re looking for a polished PVP experience with a thriving player base, don’t mind spending some money to get started, Axie Infinity is probably for you and can easily be considered one of the most popular NFT P2E games!

Spider Tanks

Collect in-game resources, upgrade your stats and weapons, and jump into the battle arena in this PVP battle brawler. Play a range of game modes and have fun demolishing the competition alone or as a team. You can even buy special edition tanks, weapons, maps, and or other accessories in the form of tradable NFTs. It’s even got great graphics to ensure you’re making the most of your gaming experience.

If you like games like Rocket League or World of Tanks, maybe this battle vehicle free-to-play with a play-to-earn model is an excellent fit for you. So why not give Spider Tanks a try.

Gods Unchained

As an Ethereum-based P2E trading card game on the blockchain where each game card is an NFT, Gods Unchained takes the cake. If you’re nostalgic about the old days of trading Pokemon cards with your friends, maybe it’s time to get back into trading cards with a modern twist. You can even get started for free, with all new players getting a pack of cards to start playing. It’s great to see this P2E game which is also a great free-to-play option.

Do you like Hearthstone and other collectable card games? Then, Gods Unchained might be what you’re looking for in a crypto card game.

The Sandbox

What originally started as a 2D pixel art game back in 2012 for mobile devices has transcended into the blockchain space to become one of the more prominent players in the growing metaverse ecosystem and one of the P2E games you’ll likely hear more about as development continues. The Sandbox throws players into a virtual world. You can own land, monetize your virtual assets, and explore novel gaming experiences. While still considered alpha software, this game has already had some extensive collaborations with popular artists and brands.

The Sandbox economy runs on a token called SAND which operates on the Ethereum network. Even at the early stages of this project, large amounts are being spent on in-game assets, so if you’re interested in making your mark in the metaverse, The Sandbox is worth a hard look.

For lovers of Minecraft and Roblox, The Sandbox might scratch that itch for more voxel gaming glory.

Splinterlands

If you’ve been looking for a trading card game that won’t need hours just to play through a game, you might want to check out Splinterlands. With the rapid pace of games, you can complete one in just a few minutes. With over 500 cards and growing, there’s plenty of variety to keep you entertained. Combine cards, convert cards to crypto and exchange your cards to build the perfect collection. You can even rent cards if you’re more of the yield farming type, a phrase you probably didn’t expect to hear associated with a collectible card game.

A hive cryptocurrency wallet is created for you after registration, and this allows you to jump right in and get started with this blockchain game. To avoid being too locked into one blockchain, it features cross-compatibility with additional blockchains like Ethereum, Tron, and WAX which is well known in the NFT scene.

Do you enjoy Magic the Gathering and other collectible card games? Maybe check out Splinterlands.

Alien Worlds

Alien Worlds has a lot to love as a play-to-earn game built on top of the WAX blockchain. Plots of land across several worlds are accessible to players in the form of an NFT. In addition, Trillium, the in-game currency, can be collected, staked, and even transferred using BNB Smart Chain.

Buy, sell, and rent virtual land and explore new forms of social governance; there's a lot to explore in Alien Worlds. You can also complete intergalactic missions, collect a range of tools, and explore the Alien Worlds universe in this NFT Metaverse game.

If EVE Online or No Man's Sky got you excited, Alien Worlds might be your new favorite space simulation game.

Plant vs. Undead

Set on Planet Plants, Plant vs. Undead is a blockchain game with a mobile-first approach that offers an excellent opportunity for the more casual gamer to explore the play-to-earn model. After a meteor crashed into the planet, many of the resident creatures became zombie-like creatures that spilled out into this cartoonish wonderland.

Unlike many of the games in this list, the primary way to play Plants vs. Undead is on your mobile device, whether Android or iOS. There's talk of other versions potentially launching in the future for PC and consoles, but this doesn't appear to be the case quite yet. While you are encouraged to expand your experience via trading PVU tokens (BEP20 tokens on BNB Smart Chain), you can start playing Plant vs. Undead for free as you will be provided a Mother Tree to protect alongside six plants used in defense.

If you find tower defense games a winner and like games such as Plants vs. Zombies (a clear inspiration for this one), perhaps it's worth checking out this PvE and PvP game, Plant vs. Undead.

Decentraland

One of the staples of the growing metaverse concept is absolutely Decentraland. If you like the idea of a virtual world where you can interact and make it your own, this is one to check out. With a range of carefully crafted environments to explore, there’s more than enough to lose yourself in for hours.

Players wanting to take things to the next level can leverage the Builder tool to create their own digital assets and even participate in some of the events held in the Decentraland community. For creators looking to make their mark (and some money in the Decentraland marketplace) or blockchain entrepreneurs looking to start a collection of land and other in-game digital goods, this ethereum backed play-to-earn game is a fascinating option.

Were you big on Second Life back in the day? See what the future holds for virtual worlds by jumping into Decentraland.

Pegaxy

Ever considered playing a play-to-earn horse racing game with Cyberpunk vibes? Maybe you’ll change after you get acquainted with Pegaxy (Pegasus Galaxy). In Pegaxy, you are pitting mythological creatures head-to-head, which results in some fast-paced action. You can even breed your Pega (the horses, if you can call them that).

With a PvP format, this game has some interesting style that throws together a high-tech vibe with a classic horse racing style of game that results in an interesting blend that shows how experimental P2E games can be. While this game is still in its early stages, it’s worth keeping an eye out for what this game has in store and seeing if these techno-horses catch on here as much as they do on the local track.

If horse racing games like Rival Stars or heading down for a day at the track gets you a bit loud, head over and see what’s going on with Pegaxy.

Thetan Arena

For those gamers who enjoy a multiplayer online battle arena game, commonly called a MOBA, Thetan Area might be your pick. Playable on Android, iOS, or PC, Thetan Arena offers a colorful experience that brings P2E gaming with a F2P model. Earn NFT items as you play the game that you can then sell on the marketplace to earn money, and you can also collect Thetan coin (the in-game currency used by Thetan Arena) by playing various game modes, which you can then exchange or trade for other items.

Furthermore, you can also acquire Thetan Gem, which takes things even further, enabling you to evolve your heroes in the game or stake them to earn some yield, something many DeFi enthusiasts will love. So whether you’re just interested in having a little fun or grinding for profit, the choice is yours.

Can’t get enough League of Legends or Dota 2? It’s probably time to see what the fuss is about when it comes to Thetan Arena.

- Adam Tracey
Getting Started with Celo
Getting Started with Celo


Celo is one of the most inclusive cryptocurrency projects around, and more people are beginning to take notice due to its thriving community. So let’s explore this project bringing dApps to everyone and enabling anyone with as little as a smartphone to participate in the cryptocurrency space.

What is Celo?

Celo is an open-source blockchain project that supports a native cryptocurrency called CELO and other tokenized assets like the stablecoin cUSD. Celo aims to be accessible to anyone by leveraging technology that has become commonplace among most of the planet, smartphones.

Suppose you are looking to experiment with blockchain technology and learn more. In that case, Celo is an excellent choice given its inexpensive transactions and ecosystem containing many projects focused on ease of use.

Can you Use Tokens on Celo?

As Celo comes with its own blockchain and token support, tokens on Celo are absolutely something you should check out. One of the most interesting is cUSD, a stablecoin that aims to be tied to the value of the US Dollar (USD) that is transferable on the Celo blockchain. The value of cUSD is maintained by a mechanism that algorithmically adjusts the cUSD supply using crypto-only reserves to ensure transparency and a reliable level of price stability.

Thanks to very low transaction fees on the Celo network, it opens up many opportunities for engaging with dApps and various types of smart contracts using tokens on Celo. As a result, many projects are popping up on Celo that range widely from NFT collections to experimental economic protocols.

How Does Celo Work?

The Celo network supports itself by relying on several different types of contributors to the network. Firstly, light clients are a form of software that operates on a user’s device; one great example is the official Celo mobile wallet which enables a low barrier to entry for the use of Celo on mobile devices. Furthermore, light clients allow users to interact with the network efficiently without operating more demanding software or needing access to anything higher-end than a cheap android phone.

As an alternative to using a light client, you can also use the non-custodial wallets provided by LocalCoinSwap, where you remain in complete control of your funds and can access your wallet on just about any device with a modern web browser.

Full nodes are also are vital parts of the network and provide a valuable service. These nodes help support the network and enable the use of light clients. Full nodes on the Celo network act as bridges that pass transactions and other necessary data between different network participants and help keep everything running smoothly and in sync.

Unlike many blockchains that currently use proof of work consensus to secure them, Celo opts instead to use proof of stake with the help of validator nodes that require staking of CELO tokens to take part in the validation process while incentivizing positive and honest contributions to the network. Validator nodes are essential as they provide validation for transactions and produce new blocks.

Together, these different types of participants form an active and efficient network that supports a flourishing and growing ecosystem of users and use cases.

Why does CELO have Value?

CELO holders can stake their CELO tokens and gain the ability to drive the project. The more CELO tokens you hold, the more voting power you can muster. Staking is rewarded and encourages participation as a validator. If the total amount of tokens staked drops below a certain threshold, rewards increase to encourage more holders to begin staking and ensure the network is well supported.

Combining staking rewards with governance helps the CELO tokens form a valuable part of the project and help provide a strong foundation for a range of tokens and dApps to operate on top of the Celo blockchain. As the supply is also limited, this helps provide value as long as there is enough demand for the tokens.

Where is the Best Place to Trade CELO?

Thanks to the support of non-custodial CELO trading on LocalCoinSwap, traders around the world have access to this increasingly popular digital asset. You can trade CELO instantly with other buyers and sellers from around the world in your local currency while choosing from hundreds of popular payment methods.

The Benefits of Buying CELO P2P on LocalCoinSwap Include:

Exchange Celo with traders internationally using 300+ payment methodsNon-custodial exchange & wallets keep you in control of your cryptoTrade CELO with cash and other less commonly accepted currenciesCustomize your trading terms to suit your needs and start trading your way

Earn free CELO by trading on LocalCoinSwap!

How to Buy CELO with Cash

Centralized exchanges tend to support minimal payment methods, resulting in a vast number of people simply not having access to trading on these platforms. However, a P2P marketplace like LocalCoinSwap enables you to trade with a massive range of payment methods, including cash.

Buying CELO with cash is easy, with just a few simple steps:

Head over to LocalCoinSwap and sign up if you haven't already (takes only seconds)Use the search bar to sort for CELO offers matching your needs, and if you’re looking for cash trades, all you need to do is select the payment method “cash-in-person.”Once you’ve found the perfect trade offer, you simply enter the amount you’d like to trade and follow the on-screen instructions to complete the trade.

If you can’t find a trade offer that matches your preferences, you can create your own trade offer or explore alternative payment methods that may be more commonly available. As you’re trading P2P, you can explore various payment options, including things like local bank transfer, gift cards, PayPal, Skrill, and Zelle, just to name a few.

Have you checked out all that Celo has to offer yet? Then, why not start by exploring P2P trading and see why so many people are interested in this cryptocurrency project that reduces barriers to using cryptocurrency and takes advantage of the modern technology in our pockets that we often take for granted.

- Adam Tracey
LocalCoinSwap Welcomes CELO & cUSD
LocalCoinSwap Welcomes CELO & cUSD


Embracing cryptocurrencies that do things a little differently is something we find important to bring to our community at LocalCoinSwap. As such, we’re excited to announce the support for both CELO and cUSD for non-custodial trading with full wallet support.

What Does This Mean?

As of now, you can trade Celo worldwide with over 300 payment methods, the flexibility afforded by peer-to-peer (P2P) trading, and full non-custodial wallet support. So it doesn’t matter whether you want to trade CELO or cUSD with bank transfer, cash, or almost anything else you may be looking for; LocalCoinSwap has got you covered.

De-banking of cryptocurrency users is still a problem for many traders, and for many more, access to banking or the types of resources required to use a centralized exchange simply aren’t available. Where you live and what tools you have at your disposal shouldn’t influence your access to critical financial tools, and while cryptocurrency projects like Celo break down many of these barriers, combining the benefits of crypto with those of P2P trading ensures that everyone has the same standard of access and the freedom to trade their own way.

Your Non-Custodial Celo Wallet

When using the Celo wallet provided with your LocalCoinSwap account, you remain in complete control of your cryptocurrency and your private key. You can freely export your private key and even import it into another Celo wallet to provide you both peace of mind and the highest possible flexibility. Keep track of your portfolio.

Stop worrying about centralized platforms holding your funds and start retaining control over your digital assets.

CELO & cUSD are Excellent Additions to LocalCoinSwap

Cryptocurrency can be an extremely powerful tool, but for that to be the case, it has to suit the needs of those using it, and both of these digital assets have a growing community and ecosystem of projects that support them.

Furthermore, many in the LocalCoinSwap community have been requesting stablecoins with cheaper associated transaction fees. With cUSD on Celo, you can have all the benefits of a stablecoin without the often high cost to trade with it or even when just moving it between wallets or sending some to a friend. When trading cUSD, you can complete trades in seconds, with very minimal amounts required for transaction fees on the network.

Trading P2P helps traders across the globe access financial tools and technology that, in many cases, they’d otherwise be unable to access in a practical way. While, unfortunately, many of these same traders are excluded from traditional financial services, further adding barriers to their economic independence and financial freedom, cryptocurrency can offer the ability to become more financially independent.

With the increased use of stablecoins like cUSD, you no longer have to be exposed to extreme volatility to leverage many of the advantages of cryptocurrency. Now you can exchange value with anyone and remit payments to a friend in the same room or family internationally in seconds for fees that are often significantly better than legacy remittance services or, in some cases, even exchange rates between some currencies.

The Benefits of Trading CELO & cUSD on LocalCoinSwapTrade with over 300 payment methods and against essentially any fiat currencySign-up is instant; you can be trading immediatelyNo withdrawal or deposit limitations ensure you are free to trade your wayAccess to many other popular cryptocurrencies for tradingFully non-custodial CELO & cUSD wallets with private key accessThe ability to trade both locally and internationally with traders around the worldStart Trading Your Own Way

Trading cryptocurrency shouldn’t be complicated or limiting. With P2P trading, you have the freedom to trade using your preferred payment methods, against your local currency, and even using payment methods that are far less commonly accepted by other cryptocurrency marketplaces, including cash.

All you need is access to the internet, and at minimum, a smartphone; you can start trading on LocalCoinSwap with a few easy steps.

Sign-up with LocalCoinSwap if you haven’t alreadySearch for offers that suit your needs, or even create your own with just a few clicksOnce you find an offer, simply enter the amount you wish to trade and follow the promptsWant to Earn Free CELO?

To celebrate the launch of CELO and cUSD on LocalCoinSwap we're giving away thousands of dollars worth of CELO. Complete your first trade and earn rewards! Want to find out more? Click here!

If you haven’t already, follow us on Twitter, Facebook, or join our Telegram group to see why LocalCoinSwap is the most popular non-custodial P2P marketplace. It doesn’t matter if you want to trade a lot or a little; LocalCoinSwap is the best place to trade cUSD or CELO.

- Adam Tracey
Ethereum Name Service (ENS) Introduction
Ethereum Name Service (ENS) Introduction

Have you ever wondered if your wallet address could be more readable? Perhaps a little like a website URL than a string of chaotic characters meshed together in a stream of incomprehensible madness, well this is where the Ethereum Name Services (commonly called ENS) can make things a lot more interesting.

What is Ethereum Name Service?

ENS is a naming standard that takes advantage of blockchain technology. Ethereum Name Service touts itself as being the most widely integrated blockchain naming standard, and given its proliferation among the cryptocurrency community, it's hard to argue with that likely being the case.

At its core, ENS is an extensible, open, and distributed naming system that leverages the popular Ethereum blockchain and enables the use of addresses that are actually human-readable. So when you're using an ENS address, there's no need to be awkwardly copying and pasting your address when a friend asks for it; instead, you can opt for an ENS domain that is not only far easier to read but also far easier to error check.

How Does ENS Work?

While you don't necessarily have to fully understand how Ethereum Name Service works merely to use it, it can still be an interesting thing to explore to help expand your understanding of how blockchains can be used.

If you're somewhat familiar with how the internet works, the concept of ENS domains is in a sense remotely similar to how DNS (domain name service) works. However, for those that aren't, in the simplest sense, when typing the name of a website into your browser DNS is used to help find the actual IP address that is serving the actual data for that domain. So instead of typing a series of numbers and dots that are even less intuitive than a phone number, you can instead type in an easy-to-remember, often very readable URL.

While on the internet, a top-level domain (like '.com') is managed by a registrar with domains available on request; in the case of ENS, the traditional registrar is replaced by smart contracts which control top-level domains like '.eth' and provide and manage the rules for registering one yourself. If you own a domain name, you can even create subdomains attached to it as you already control the higher-level ENS name.

For a far more in-depth explanation of how ENS works, as well as some further technical detail, the official ENS documentation is a fantastic place to learn more about this impressive service.

What is the ENS Token?

If you've been looking into ENS, you may have noticed a token by the same name, and this is associated with the project. The token is actually for us in the form of a decentralized autonomous organization (DAO) governance token to help push support of ENS forward while enabling it to remain an open, decentralized service.

A quarter of the entire ENS token supply was distributed in the form of an airdrop to those that had held NFTs representing ownership of ENS domain names. The amount of time someone held an ENS domain alongside other factors decided the actual amount received. A significant amount of Ethereum Name Service tokens were also held for their community treasury, for core contributors, and other parties in much smaller amounts.

Receiving tokens was also rather interesting in that claimants were required to vote on several ENS proposals using these governance tokens as well as choose an applicant to offer the voting power of your tokens to a chosen delegate that had applied to take part in the process.

How Do I Buy an ENS Domain?

ENS domains are purchased with a small subscription fee. While at first thought this may seem off-putting, it helps to ensure that only those using or having an active interest in a specific domain are likely to maintain holding it long term.

For those wanting to buy an Ethereum Name Service domain, you can head over to the ENS domain app and get started. The process will require you to have the relevant subscription fee and some extra funds to cover the gas cost of the transaction involved in the form of Ethereum.

The search function present as soon as you open the app enables you to find out which ENS names are available quickly. Then, using MetaMask or other supported wallets, you can quickly purchase a domain for yourself.

Using ENS Names on LocalCoinSwap

Alongside popular ethereum wallets like MetaMask and MyEtherWallet supporting ENS, LocalCoinSwap does as well! Using your non-custodial ethereum wallet that is generated when you create your account, you can easily withdraw ethereum or other ERC-20 tokens directly using an ENS domain name in place of other ethereum addresses.

So the next time you buy ethereum/sell ethereum with LocalCoinSwap, why not take advantage of the awesome human-readable names provided by ENS and experience how nice it can be to personalize your cryptocurrency wallet with an ENS domain of your own.

- Adam Tracey
LocalCoinSwap Holiday Roadshow
LocalCoinSwap Holiday Roadshow


Join the #HolidayRoadshow with LocalCoinSwap for your chance to win:

One of 5 bitcoin prizesTrezor hardware walletExclusive LocalCoinSwap T-ShirtHow to Participate:

Participating in the LocalCoinSwap holiday roadshow is easy. Will you be the best P2P trader this holiday season?

Stage 1: Referral Contest

Period: Dec 20th - 26th 2021

Grab your referral link from your LocalCoinSwap accountShare your referral link to friends, family, and even clientsInvite them to sign up for LocalCoinSwap

Win $50 USD in BTC - 5 winners!

Terms & Conditions:

To be eligible for the contest, you must have a minimum of 10 new registrations coming from your referral linkAt least 50% of your total new registrations must have their phone number verifiedThe top 5 users with the highest new registrations will win $50 USD in BTC each & eligible to join the next stage of the contestAnnouncement: 27 Dec 2021 – Follow our social media: Instagram, Twitter, Facebook, LinkedIn for updatesStage 2: Trading Contest

Period: Dec 27th, 2021 - Jan 2nd, 2022

Trade crypto at LocalCoinSwap (Buy or Sell)

Terms & Conditions:

The highest trading volume completed by you & your referrals will win the grand prizeAnnouncement: 3 Jan 2022 – Follow our social media: Instagram, Twitter, Facebook, LinkedIn for updates

Win 1 Trezor Hardware Wallet & 1 Exclusive LocalCoinSwap Shirt!

- Adam Tracey
Entering the Metaverse
Entering the Metaverse

The concept of the metaverse has been a colossal topic recently. With even Facebook suddenly jumping into the mix, there's a lot out there to explore and many projects working on their own visions for the future of the digital universe. So perhaps it's the perfect time to start exploring what exactly this idea is and look at some of the places we may go as we move into the future.

What is the Metaverse?

The metaverse is a conceptual or hypothesized view of how the internet and technology could evolve in the future. This idea encapsulated things like virtual reality (VR), augmented reality (AR), and even 3D space and virtual environments where ownership, community, and building things beyond the physical world’s limits can be possible.

The actual phrase is said to have come from a well-known sci-fi novel from the year 1992 called Snow Crash. The book described a dystopian world where the main character can escape his difficult day-to-day existence into a virtual realm. This book is said to have even influenced The Matrix and some other films delving into more abstract concepts and alternative reality.

As with many new forms of technology and especially on the more experimental side of things, naturally, the metaverse is something that fits nicely alongside crypto, and a range of projects are popping up to explore and grow inside this new space. Through crypto and things like NFTs (non-fungible tokens), ownership of assets and virtual real estate becomes far more practical. While we're still adapting in many ways to using more niche forms of digital assets, when you look at the digital space, things suddenly can become not only more straightforward but practical.

Is the metaverse going to be the next big thing in crypto? Time will tell, and if the current growing hype is any indication, it may indeed start making some waves that ripple beyond the bounds of the typical cryptocurrency ecosystem.

What Can You do in the Metaverse?

With this being a concept that has only started to gain significant traction recently, there's already a lot of things that are either doable today or are already being actively developed.

Attend a virtual conference or other eventsMore immersive conference calls through VRWorking in a VR space with a simulated deskBuy and sell digital property and itemsCombine the physical world with the digital world through ARWatch a movie in a virtual theatre or a mixed reality formatSocialize in entirely virtual worlds using VR headsetsGaming and other forms of entertainmentBig Business is Getting Involved in the Metaverse

Some of the biggest companies in the world have not only explored virtual reality but are beginning to embrace a more embodied internet where the virtual world and real world can intertwine. For example, Facebook has recently taken to the idea of the Metaverse so strongly they have changed the name of their company with a recent announcement and complete branding overhaul. The company is now known as Meta as they are already beginning to promote the future of the virtual universe and how that could look.

Even Disney, one of the more conservative companies that almost everyone is familiar with, has stated they want to "connect the digital and physical worlds" with animation and storytelling. So perhaps in the not too distant future, some of the most well-known Disney characters will get a Metaverse rethink or even make their way into the blockchain space in an official capacity.

Nvidia is working on building what it is calling an "Omniverse" that they have stated is intended to connect 3D virtual worlds. In addition, they appear to be interested in digital assets and their ownership in persistent virtual worlds, which seems to bode well for Metaverse cryptos, projects working on an NFT marketplace, and other blockchain projects that complement the Metaverse theory.

Microsoft is another big name that isn't new to the Metaverse; after releasing their mixed reality headsets in recent years while exploring both VR and AR, you can expect to see more of this from them as demand for these technologies increases along with the development of software to interact with virtual spaces is further enhanced. Already Microsoft has announced they are creating a Metaverse product for their popular Microsoft Teams platform to increase collaboration and allow things like customizable digital avatars, novel forms of communication, expand collaborations into open virtual spaces, and develop more exciting video chat experiences.

Metaverse Gaming

While VR and even AR have been strongly connected to gaming in most people’s minds, this is starting to change. With a large part of the world exploring work-from-home options and how to embrace socializing and collaboration in the digital space, more people than ever are starting to understand the potential for the Metaverse to bring many types of interactions into a new world.

With products like the HTC Vive Pro 2 and Meta Quest 2 (formally Oculus Quest 2) making their way into homes worldwide, VR is becoming much more commonplace. With tech enthusiasts digging around for software and games to take their VR devices for a spin are finding their way into virtual worlds through VR Chat and VR Virtual Desktop, which touch on the potential for these technologies as the hardware to make them practical has started to reach the mass market with Google even releasing "Cardboard" a few years ago which when combined with your phone could provide a relatively immersive VR experience while primarily being made from, as you may have guessed, cardboard.

Even a growing landscape of blockchain and crypto Metaverse gaming-related projects is blooming with some of the best Metaverse projects for gamers, including The Sandbox (describing itself as the open Metaverse), Decentraland, Axie Infinity, and Star Atlas, just to name a few.

Conclusion

The increased interest in the Metaverse points to the future being launched into other realms of digital spaces where what things exist and what context they are owned in the future could look much different from their traditional counterparts today. Will your avatar in the future be far more than the profile pictures of today? Maybe you'll even find yourself offering or receiving services or digital goods in ways that today may seem like science fiction. With VR and other technologies associated with the Metaverse blending with the crypto space and even affecting how some people are playing games, there's a tremendous amount of potential, and things are only just now beginning to be touched on as so many bleeding-edge technologies are starting to mesh together.

It's hard to argue the way we see the web, data, or just the internet, in general, isn't evolving. So maybe the Metaverse will become a big part of how all of this is shaped in the future as the physical and digital collide and it reverberates through the network that underpins our life and world.

- Adam Tracey
Why Does Bitcoin Have Value?
Why Does Bitcoin Have Value?

Bitcoin is a speculative asset. This means that the price of bitcoin can go up and down depending on what people are feeling about it. Many different factors contribute to this, including supply, demand, general sentiment, and more.

The finite supply cap for bitcoin makes it an interesting investment opportunity since there will only ever be 21 million bitcoins mined on the bitcoin blockchain before the supply is capped forever!

Bitcoin vs. Gold and Other Speculative Assets

Bitcoin is very similar to other speculative assets like gold, real estate, and collectibles. In fact, bitcoin is often considered a store of value and is one of the key reasons some people find it so interesting! Bitcoin is also becoming an increasingly popular means of exchange. In the simplest sense, bitcoin has value because people think it does and are willing to trade goods, services, or other currencies for bitcoin. It's different from a traditional fiat currency that is backed by a government. Still, something you may not realize is that standard currency is speculative as well in that it largely relies on what people are willing to exchange for it.

While you may not notice it, the value of the US Dollar, British Pound, and even the Euro are all fluctuating constantly, yet in most cases, you are unlikely to notice this in the short term. However, for some countries where hyperinflation and other economic phenomenon have kicked off, the day-to-day value of their local fiat currency has become an important topic.

When you look at other asset classes a little more closely, bitcoin being a speculative asset with no physical form doesn't feel so weird after all!

Bitcoin's Valuable PropertiesDecentralizedImmutableBorderlessTrustlessPseudonymousStore of valueEasy to transportCheap remittancesIntrinsic Value

Bitcoin has value because people think it does and is willing to trade goods, services, or other currencies for bitcoin. The fact that you can't physically hold bitcoin doesn't make it any less valuable than something like gold, another commodity with intrinsic value. While the price of cryptocurrencies will always depend on supply and demand to some degree, it's also worth looking at some of the other factors that come into play.

Bitcoin is not just another currency but has properties more closely represented by gold or silver than fiat money like USD. While these commodities are loosely limited in supply and can be used as an alternative store of value to paper cash, they're also mined, printed, or otherwise created at various rates that can change at any time, with even paper trading of assets like gold making things less transparent. In the case of bitcoin, things are a lot clearer given the supply cape and the fixed rate that coins can enter the market as they are mined.

Bitcoin as a Store of Value

Beyond being a speculative asset, bitcoin is also widely seen as a store of value. While this may seem ironic given the volatility that impacts price so heavily in the short term, it's actually very similar to other stores such as gold or collectibles.

As the value of bitcoin has continued to increase over the long term, many people are taking this as an opportunity to diversify their savings or retirement accounts by adding a small portion of cryptocurrency into the mix. In addition, the fact that it's not directly connected to many traditional assets results in many investors looking to bitcoin as a potential hedge against other traditional investments. How strongly bitcoin is correlated to more conventional assets is commonly argued and is likely to become more apparent as bitcoin continues to mature while other markets cycle around it.

In countries dealing with the extreme volatility of their traditional fiat currencies, bitcoin can provide a far more stable alternative, even when taking into account its own often high degree of volatility. In many regions, remittances are being performed using bitcoin at an increasing rate. No longer do you need to trust an expensive third-party remittance service, and you don't even need a verified bank account or other types of financial institutions at all. Bitcoin isn't only a great store of value. It’s also a fantastic way to transfer value without many of the issues faced when trying to move value long distances using traditional fiat currencies, precious metals and removes the risk of counterfeit money.

While many still call bitcoin "digital gold," its potential far exceeds this as the bitcoin network sprawls the world even though no single entity oversees bitcoin. While value is relative, it's hard to argue that digital currencies like bitcoin don't provide a strong value proposition and that bitcoin does indeed have value while exploring other novel concepts such as that bitcoin introduces digital scarcity. While there are no true global currencies, bitcoin is arguably the closest thing we have to a payment system or currency that is truly global.

Bitcoin Price Volatility

The price of bitcoin is still incredibly volatile, at least compared to some more stable assets and larger local currencies. However, it's also important to keep things in perspective. While headlines about bitcoin price movements can be enough to send people into a panic or frenzy of excitement, the rise, and fall of the market are something that can be expected with such a comparatively new asset that can be considered to stand in a class of its own in many ways.

While decentralized payment systems like bitcoin are often compared to credit cards, it's essential to acknowledge that bitcoin isn't just another digital payment solution like your online banking, PayPal, or Cash App.

While the future is still uncertain, bitcoin has intrinsic value through its ability to act as an alternative store of value with properties beyond cash for investors and bitcoin users. Ultimately, whether or not this will be enough in the long term is something we'll have to wait and see.

For over a decade now, bitcoin has continued to grow, show us new ways to consider value, and has helped provoke the growth of a massive cryptocurrency ecosystem and monetary systems that are expanding by the day.

- Adam Tracey
Bitcoin Cheatsheet
Bitcoin Cheatsheet

Whether you're looking to start trading, mining, or simply want to try your hand at buying a few bitcoins in order to see how it all works, it's easy to get started and even easier to begin learning with this bitcoin cheatsheet.

What is Bitcoin?

Bitcoin allows transactions to take place peer-to-peer without a third party such as a bank or government. The "coins" themselves exist only in digital form - they have no physical form and are not printed or minted like traditional currency. In essence, they represent a unit of account for trading goods and services, much like conventional currencies. The coins are made - or mined - by solving complex mathematical problems.

Who Controls Bitcoin?

Bitcoin was created by a still-mysterious figure going by the name Satoshi Nakamoto back in 2009. Satoshi Nakamoto was a secretive person or a group whose true identity has never been confirmed. Because no one owns or controls bitcoin, it is considered a decentralized digital currency.

Bitcoin has been described as "cash for the Internet." What separates it from other currencies is that bitcoin isn't subject to any one country's rules, regulations or policies. As a result, it can be used by anyone who knows how to access the Bitcoin network - typically through a wallet application downloaded on a PC or mobile phone or online via a web wallet.

How Do I buy Bitcoin?

Because it's not centralized, bitcoin can't be bought from a central organization like a bank. Instead, you typically need to use an exchange to buy or sell bitcoin. Before you open an account and purchase your first coins, you need to think about what type of exchange you want to use; the most flexible option is a P2P marketplace like LocalCoinSwap.

What is a Bitcoin Wallet?

The wallet can be seen as your personal interface to the Bitcoin network. It allows you to receive bitcoins, store them and then send them to others. A wallet is like a bank account; however, it is more decentralized and under your control. Therefore, you are not required to submit any identification or other sensitive information when creating a bitcoin wallet.

On a fundamental level, Bitcoin wallets consist of two cryptographic keys (one public and one private key) - the public key being your wallet address, which people can use to send money to, and the private key is for signing transactions (moving your funds).

Keeping your bitcoins safe is of utmost importance, as this digital currency has a lot of value attached to it. There are three main types of wallets available for you to use: online wallets, offline wallets, and hardware wallets - each with their advantages and disadvantages.

What is the Bitcoin Blockchain?

The blockchain is the technology behind bitcoin. It's a data structure that stores blocks of items in a linear, chronological order. The 'chain' represents the entire history of all transactions made since the network began. Every transaction is stored in blocks and mathematically encrypted to create an irreversible record - hence the term blockchain.

What is Bitcoin Mining?

Miners keep the blockchain consistent, complete, and immutable by repeatedly verifying and collecting newly broadcast transactions by using large amounts of computer processing power (energy). Each block contains a cryptographic hash of the previous block (unique signature), using the SHA-256 hashing algorithm, which links it to the previous block, thus giving the blockchain its name.

How do I accept bitcoins as payment?

For companies wishing to accept bitcoin, many different types of software, services, and platforms can be used - or even none at all. For example, some smaller merchants may accept direct bitcoin payments to their wallets, while others may opt for third-party services designed specifically for businesses.

What is the Future of Bitcoin?

Since bitcoin's inception in 2009, it has witnessed rapid growth and appreciation in its value. In this relatively short period, people have come to see it as a haven for their wealth due to it being entirely digital, not influenced by any central bank or authority. However, many naysayers still stubbornly believe that bitcoin is built on unproven technology and isn't ready to be used in the real world just yet. Yet, over a decade later, the network is still producing blocks and processing transactions.

What Can I do with Bitcoin?

Even though it's not quite mainstream yet, you can still use your bitcoins to purchase products or services from vendors across the world. You could buy anything from web hosting, plane tickets, furniture, tech, or even book a hotel room thanks to the growing number of companies accepting bitcoin.

What is SegWit?

SegWit stands for segregated witness. If you've ever used (or at least heard of) a wallet that supports SegWit, then you've likely seen it in action already. However, not all wallets support SegWit just yet - but it's a step towards the future capacity upgrade for bitcoin as it enables blocks to contain more information without directly increasing the 1 Megabyte block size.

Who Controls Bitcoin?

The bitcoin network is completely decentralized, so there's no need for any central authority to oversee its operations. This means that anyone can participate in the network by simply downloading the software required.

What Are the Benefits of Bitcoin as an Investment?

Many people who have purchased bitcoins as an investment are seeing significant returns on their initial investments. In December 2017, a single bitcoin was valued at over $19,000 USD, and in 2021, Bitcoin has traded for over $50,000 USD. As bitcoin is speculative and at times highly volatile, whether it is a good investment is something you should research yourself and assess against your risk tolerance.

What is the Supply of Bitcoin?

Bitcoin's supply is capped at 21 million coins. That means that there can be no inflation in the network, which is one of the ways it differs from fiat currencies.

What if I Lose my Wallet?

If you somehow lose access to your wallet or it gets stolen, you should consider these funds irretrievably lost in most cases. That means it's important to secure any wallet you own, safely store your private key or seed phrase, and ideally use a quality hardware wallet.

What is the difference between Public and Private Keys?

Every single bitcoin transaction that ever takes place requires a public address and a private key - which work together to authorize the transaction. A public address is enough information for you to be able to send funds to another bitcoin user. The private key is what someone needs to have so they can spend money from their wallet. However, if they lose the key, they will never regain access to the bitcoin inside of it again.

What are Bitcoin Faucets?

Bitcoins faucets are websites that dispense a small amount of bitcoin for free of performing a task (often a captcha) that were quite common in the early days of bitcoin. While these have become far less popular in recent years and pay out a lot less, they still exist.

What is the Average Block Time?

The average block time refers to how long it takes for a block to be confirmed on the blockchain. It's usually around 10 minutes per block, but it can take more or less time. However, the bitcoin network is programmed to add a new block every 10 minutes, so each block is expected to take an average of 10 minutes.

What is the Lightning Network?

The lightning network is a second layer protocol built on top of bitcoin that allows for super-fast and inexpensive transactions. These are especially useful for smaller-scale payments where transaction fees would be larger than the cost of the product or service you're purchasing, but they can also make most bitcoin transactions instant. This technology is still in its early stages, but it's already supported in some wallet software and is growing more popular as adoption is starting to increase more rapidly.

What is the Price of Bitcoin?

The price of bitcoin constantly varies since it's traded on various exchanges all over the world. It can go up or down depending on what people are willing to pay for it, but that value has been trending upwards for years now when looked at on a longer time frame.

What is a Satoshi?

A satoshi is the smallest fraction of a bitcoin and represents 0.00000001 BTC (one hundred millionths of one bitcoin). Since bitcoin can be divided down to 8 decimal points, you could always buy a fraction of a bitcoin if you didn't want a complete one.

What are the Transaction Fees?

Bitcoin transaction fees vary based on several factors. When there is more competition to get a transaction into a block, you will pay a higher fee if you want your transaction to be processed quickly. Additionally, the size of any given transaction also determines how much it will cost to send or receive bitcoins. While you can send a fraction of a bitcoin or thousands of bitcoins for the same price, specific transaction types can cost more than others based on numerous factors (such as the type of wallet address used).

What is a Halving?

A halving is when the rate at which new bitcoins are created halves. This happens once every 210,000 blocks or roughly every four years. When that happens, the block reward per block is cut in half until it eventually reaches zero.

Bitcoin is seen as a deflationary currency because there's a finite amount of bitcoin that can be mined. In all, there will only ever be 21 million bitcoins produced which makes for an interesting economic experiment that all bitcoin users are participating in, and only time will tell where it goes.

There is so much to learn about bitcoin and other cryptocurrencies. If you want to learn more be sure to check out the LocalCoinSwap Academy where there is a large amount of free bitcoin guides and tutorials that is growing all the time.

- Cointelegraph By Ciaran Lyons
Protocol Labs, Chainalysis and Bittrex add to crypto layoff season

Crypto execs suggested that the "extremely challenging" times forced them to cut jobs in order to “weather this extended" crypto winter.

- Cointelegraph By Brian Quarmby
FBI seizes $100K in NFTs from scammer following ZachXBT investigation

The seized property included a Bored Ape Yacht Club and Doodles NFT, 85.6 Ether and a flashy Audemars Piguet watch which ultimately helped ZachXBT identify the alleged scammer.

- Cointelegraph By Dr. Lyall Swim
The IBM–Maersk blockchain effort was doomed to fail from the start

Observers can learn a few things from the failed effort by IBM and Moller-Maersk to develop TradeLens, a blockchain-enabled global trading platform.

- Cointelegraph By Turner Wright
Sam Bankman-Fried's holding company files for bankruptcy

Emergent Fidelity Technologies filed for Chapter 11 in U.S. Bankruptcy Court for the District of Delaware to pursue a “form of joint administration” between its case and FTX's.

- Cointelegraph By Tom Blackstone
Overstock-funded tZERO Crypto exchange will shut down March 6

Once a highly touted exchange, tZERO facilitates securities offerings, some of which are blockchain tokens.

- Cointelegraph By Turner Wright
CFTC head looks to new Congress for action on crypto regulation

"I will continue to engage and provide technical assistance to draft legislation, as requested,” said Rostin Behnam.

- Cointelegraph By Prashant Jha
DeFi enjoys a prolific start to 2023: Finance Redefined

DeFi marks a perfect entry into 2023 with a bullish January and TVL nearing $50 billion.

- Cointelegraph By Nivesh Rustgi
Are Cosmos’ ecosystem growth and roadmap enough to sustain ATOM’s current 50% monthly rally?

ATOM gained 50% in January and while the wider crypto market could remain bullish for some time, does the Cosmos ecosystem have strong enough fundamentals to support further upside?

- Cointelegraph By Derek Andersen
Kazakhstan’s digital currency in pilot stage, per Binance, National Bank joint report

The Central Asian country’s CBDC project is right on time, according to a 2020 roadmap, as consumers and merchants use the currency in a controlled environment.

- Cointelegraph By Rakesh Upadhyay
Price analysis 2/3: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, AVAX

Strong U.S. jobs data for January could not pull Bitcoin and select altcoins lower, indicating a strong bullish undercurrent.

- Cointelegraph By Turner Wright
US Congress to hold ‘crypto crash’ hearing on Feb. 14

The “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets” hearing will come two months after senators met to discuss the collapse of FTX.

- Cointelegraph By Marco Castrovilli
‘Crypto summer’ likely to start in Q2 2023, Morgan Creek Capital CEO says

Bitcoin’s bull market is likely to start earlier than expected due to anticipation of the BTC halving and favorable macroeconomic conditions, according to Mark Yusko, founder and CEO of Morgan Creek Capital Management.

- Cointelegraph By Sam Bourgi
Value of WisdomTree’s crypto holdings fell 61.9% in Q4

The fund manager’s crypto portfolio has booked a loss in three of the past four quarters, according to recent financial statements.

- Cointelegraph By William Suberg
$20K Bitcoin may return, says analyst as US unemployment hits 54-year low

Bitcoin buyers may get a chance to “load up” below $22,000 on the back of employment statistics.

- Cointelegraph By Helen Partz
Russia’s Sberbank plans to launch DeFi platform on Ethereum

DeFi systems are able to displace the traditional market of banking services, Sber’s Blockchain Lab product director Konstantin Klimenko said.

- Cointelegraph By Savannah Fortis
Binance severs ties with Indian crypto exchange WazirX

According to the announcement, WazirX has until the end of the day UTC on Feb. 3 to withdraw all remaining funds it stores in Binance wallets.

- Cointelegraph By Andrew Singer
Bitcoin’s big month: Did US institutions prevail over Asian retail traders?

There may be no single reason for BTC’s 39% January price gain, but some suspect institutional investors. Can their impact be quantified, though?

- Cointelegraph By Guneet Kaur
5 biggest economic bubbles in history

Economic bubbles occur when the price of an asset, such as stocks or real estate, is driven up artificially and becomes disconnected from its underlying value.

- Cointelegraph By David Attlee
Australia introduces classification for crypto assets

The national regulators identified four major products in the crypto sector.

- Cointelegraph By Ezra Reguerra
Core Scientific to hand over 27K rigs to pay $38M debt

The bankrupt crypto mining firm believes that the long-term benefits outweigh the immediate loss of handing over the machines.

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- bitFlyer Europe
Our Commitment to the Protection of Customer Assets
Our Commitment to the Protection of Customer Assets

Given the recent news and market volatility in the digital asset industry, we felt it is timely to reiterate to our valued customers, bitFlyer’s commitment to protecting their account and digital assets. We also wanted to inform our users that bitFlyer is in no risk of facing any liquidity issue.

Since 2014, bitFlyer has always been at the forefront at shaping the regulatory environment within the crypto industry. In Europe, bitFlyer is a regulated entity with a payment institution license from the Luxembourg Ministry of Finance and is the first Luxembourg based company to receive the Virtual Asset Service Provider registration with the CSSF.

Since its establishment in 2018, bitFlyer Europe has adopted a customer first approach by prioritizing regulatory compliance and industry-leading security practices. At bitFlyer, institutional and retail customers benefit from:

An exchange with a track record of stability and securityCustomer assets stored offline in cold storage.Multi-factor authentication (MFA) to prevent unauthorized accessAdvanced encryption using SHA-2 cryptography standardsMultisig Bitcoin addresses to prevent a full range of hacking activities and cyber attacks

Funds deposited on bitFlyer Europe (both FIAT and crypto assets) are completely segregated from bitFlyer company funds. No qualifications, asterisks, or fine print. Tokens are safeguarded in a cold storage wallet, ready to be sent back at the click of a button. Multiple physical and logical security measures are in place to ensure that our customers' assets are kept safe and we operate in compliance with these segregation rules.

We will continue to provide services that satisfy our customers, aiming to be a trusted platform where customers can trade safely and securely. bitFlyer remains active in helping shape the future of crypto and remains confident in its future.

About bitFlyer EUROPE S.A.

bitFlyer EUROPE S.A., a wholly-owned subsidiary of bitFlyer Holdings – a leading cryptocurrency exchange based in Japan – is a regulated entity with a payment institution licence from the CSSF, passported to all EU member states. bitFlyer EUROPE S.A. also holds the first VASP registration in Luxembourg.

Website: https://bitflyer.com/en-eu/

- bitFlyer Europe
European Customers Can Now Trade ETH/EUR Pair on bitFlyer
European Customers Can Now Trade ETH/EUR Pair on bitFlyer

Benefit from zero-fee pricing on one of the world’s most stable and secure crypto trading platforms.

LUXEMBOURG, November 9th, 2022 —

bitFlyer, one of the world’s largest and most trusted cryptocurrency exchanges, continues to expand its global footprint as it rolls out its Ethereum to Euro (ETH/EUR) pair to traders located in Europe. This announcement highlights bitFlyer’s commitment to expanding its product suite while playing to the firm’s core strength – providing industry-leading liquidity and deeply discounted fees to its sophisticated crypto trading community.

As Japan’s #1 cryptocurrency exchange by volume for five consecutive years, bitFlyer’s order flow, global presence and strong footprint in the Asian market uniquely positions our customers to capitalise on optimal bid or ask prices (depending on market trends).

The ETH/EUR pairing gives institutional and retail customers of bitFlyer EUROPE S.A. the opportunity to tap into one of the industry’s largest and most differentiated liquidity pools while they trade on a secure, licenced and regulated exchange in Europe. In September 2022, bitFlyer introduced an ETH/BTC cross-border trading pair, and having seen much success with the launch of its zero-fee campaign, decided to extend this price schedule through the end of the year as well as offering zero-fee trades for this new pair starting November 14.

At bitFlyer, institutional and retail customers benefit from:

An exchange with a track record of stability and securityCold wallet storage for customer assetsGlobal support to handle our VIP customer queries

"The launch of our ETH/EUR board follows our long-standing pledge to increase the number of trading pairs for our European institutional customers. bitFlyer continues zero-fee trading for our ETH/EUR pair, which complements our limited-time no-fee ETH/BTC board which has been in place since September. Unlocking the liquidity required to support Ethereum trades denominated in EUR represents a historic milestone for our company,” stated Ami Nagata, co-head and Chief Operating Officer of bitFlyer EUROPE S.A.

bitFlyer is expanding equitable access to digital assets globally – reducing inefficiencies in cryptocurrency markets – while remaining fully compliant with all EU regulations. As the first exchange to collectively gain licenses in Japan, Europe, and the United States, bitFlyer stands unrivaled in shaping the industry's dynamic regulatory frameworks.

About bitFlyer EUROPE S.A.

bitFlyer EUROPE S.A., a wholly-owned subsidiary of bitFlyer Holdings – a leading cryptocurrency exchange based in Japan – is a regulated entity with a payment institution license from the CSSF, passported to all EU member states. bitFlyer EUROPE S.A. also holds the first VASP registration in Luxembourg.

Website: https://bitflyer.com/en-eu/

- bitFlyer Europe
Introducing our new Ethereum pair on Lightning!
Introducing our new Ethereum pair on Lightning!

Today, we are launching our new pair on Lightning: ETH/BTC.

Access to a new Market

Individual and institutional traders in Europe will now be able to trade on bitFlyer's ETH/BTC market, which has only been available to bitFlyer Japan customers until now.

This is another addition in our cross-border offering which gives traders access to the unique liquidity of the Japanese market.

What is bitFlyer Lightning? - Check out our Lightning guide here.

Our first crypto to crypto pair - and not the last

The launch of our first cryptocurrency to cryptocurrency pair on our trading platform opens new possibilities and opportunities to our users and we are excited to see how this new feature will be used by all of you.

To celebrate this launch, we are also running a “zero fees” campaign on this newly added pair. You can find some details about it via the link below.

Zero fees for ETH/BTC trading campaignTo celebrate the launch of ETH/BTC, we are also running a “zero fees” campaign on this newly added pair.Introducing our new Ethereum pair on Lightning!bitFlyer EuropebitFlyer EuropeIntroducing our new Ethereum pair on Lightning!If you are ready to start trading ETH/BTC:Already a bitFlyer customer? Log in to Lightning!
New to bitFlyer? Register now!
Need extra info about BTC and ETH?What is Bitcoin? How does BTC works? A guide for BeginnersLaunched in 2009, Bitcoin is the world’s first cryptocurrency, also known as “Digital Gold”. Satoshi Nakamoto, the pseudonymous founder, introduced Bitcoin as ‘Open Source Peer-2-Peer Money’ for secured, verifiable digital transactions without involving intermediaries like banks.Introducing our new Ethereum pair on Lightning!bitFlyer EuropebitFlyer EuropeIntroducing our new Ethereum pair on Lightning!What is Ethereum? (ETH) | Its token, features and capabilitiesEthereum is the second-largest blockchain-cryptocurrency platform after Bitcoin, in terms of market capitalisation. It was conceived by Vitalik Buterin—then 19 years old—and formally launched in 2015.Introducing our new Ethereum pair on Lightning!bitFlyer EuropebitFlyer EuropeIntroducing our new Ethereum pair on Lightning!
- bitFlyer Europe
Referral Program now available on Web!
Referral Program now available on Web!

Today we launched our Referral Program on Web! Both you and your friend will get €10 worth of Bitcoin each when your friend creates an account, makes a deposit and trades €100 of crypto or more.

How does it work?

1. Log into your bitFlyer account on your Web Browser.

2. Click on the "Referral Program" Tab

3. Get your own referral link from the “Share with friends” buttons.

Referral Program now available on Web!Referral program on Web

4. Choose a friend and send the link with an invitation.

5. Your friend needs to click on the link, then create a bitFlyer account. They should fill out Invitation code which is in the invitation. Without the code, both you and your friends will not be eligible for the rewards.

Referral Program now available on Web!Invitation Code Input Location

6. Your friend makes a deposit and trades €100 or more worth of any crypto. (Crypto deposit is not eligible for this program)

7. Both you and your friend receive €10 worth of Bitcoin!

Details about the program

The rewards will be sent out within 24 hours after your referral deposits and trades €100 or more and there is no upper limit to the number of people that can be referred.

Your friends can trade crypto on Buy/Sell or using Instant Buy and Recurring Buy features. Trading activity generated on the bitFlyer Lightning platform is excluded.

If you have more questions, please visit our FAQ or contact us.

Ready to get started?

Already a bitFlyer customer? Login Now!

Ready to join us? Register on bitFlyer!

Our referral program is also available on our App!

Referral Program now available on Web! Referral Program now available on Web!

Disclaimer:

• To be eligible to participate, individuals must be at least eighteen (18) years of age.

• To be eligible to participate, individuals must be residing within the European Economic Area.

• To be eligible to participate, individuals must be upgraded to Trade PRO on the bitFlyer platform

• bitFlyer accounts are limited to one account per person. Customers who already have a bitFlyer account before the initiation of this referral program can not create duplicate accounts.

• Customers who have closed their bitFlyer account at the time of granting the rewards are not eligible for this program

• If a referred user fails to complete the requirements to obtain a bonus within 90 days of opening his or her account, neither party will receive a bonus.

• To be eligible for the referral bonus payout, individuals must deposit 100EUR or more by bank transfer, Paypal or credit card. Crypto deposits are not eligible to qualify under this program.

• To be eligible for the referral bonus payout, all qualifying trades must be placed via bitFlyer’s Buy/Sell Marketplace options (Instant buy or Recurring buy). Lightning exchange orders are not eligible to qualify under this referral program.

• Opening an account through any method other than the invitation URL will forfeit eligibility for this program.

• Customers who had a bitFlyer account before the start of this program are not eligible to be referred.

• Customers who have frozen or restricted accounts before the start of this program are not eligible for this program.

• The rights acquired through the program cannot be transferred to another person.

• The BTC/EUR exchange rate will be based on the rate on our exchange platform at the time of rewarding.

• The purpose of this program is to attract new customers and reward those customers who genuinely intend to become our active  customers and use our services. Therefore if we detect certain behavior indicating that an individual is using this referral program for the sole purpose of collecting rewards without genuine intention to use our service, we may disquality eligibility for the program in such cases. For example, customers who meet the following criteria may forfeit their eligibility to receive rewards. Even if the rewards have already been granted, they may be recollected. Eligibility for further participation in this program may also be forfeited.

• If it has been identified that the customer has more than one account

• If the registered email address is unable to receive emails or does not receive the email sent for this program

• If the account was created using false information

• If we discover any fraudulent activity such as spoofing, affiliates, etc.

• Any other action that is deemed to violate our Terms of Use, illegal, or failure to meet our requirements

• Please note that the list is not exhaustive.

• In case of recollection, whichever is available and has the higher value of the below will be recollected from the customer's account. The crypto/EUR rate will be based on the rate on our exchange platform at the time of recollection.

• Amount of BTC granted as the reward;
• 10€ worth of other crypto held (in case there is no BTC available); or 10€

• We will not respond to any inquiries regarding customers eligibility.

• Please refer to our Privacy Policy for information on how we handle personal information. bitFlyer may change, suspend, cancel, or terminate some or all of the parts of this program without prior notice. bitFlyer is not responsible for any losses incurred due to changes, suspension, cancellation, or termination of this program.

• This program is subject to change, suspension, or cancellation without notice.

• If you have any questions about this program, please contact us info.eu@bitflyer.com.

- bitFlyer Europe
New Coins available to Trade on bitFlyer Europe!
New Coins available to Trade on bitFlyer Europe!

Our selection of coins to trade on our platform just got larger! With the addition of 4 new coins, we wanted to give our customers more choice in their trading journey and help them to discover exciting cryptocurrency projects.

The 4 coins that have been added to our platform are:

Polkadot (DOT)Stellar (XLM) Tezos (XTZ)Basic Attention Token (BAT)

All 4 coins will be added to our Buy/Sell service as of today on both our App and on our Web platform.

New Coins available to Trade on bitFlyer Europe!The new coins on Buy/Sell

Check out our new coin selection now!

Go further on bitFlyer with our App, as you can earn BTC with our referral program:

New Coins available to Trade on bitFlyer Europe! New Coins available to Trade on bitFlyer Europe!


Don't forget that you can set up a recurring order for all our new coins on our Recurring Buy Service:

New Coins available to Trade on bitFlyer Europe!Recurring Buy is now also available on our Web platform!

Already a bitFlyer customer? Buy Now!

Ready to join us? Register on bitFlyer!


- bitFlyer Europe
Recurring Buy now available on Web!
Recurring Buy now available on Web!

As of today, our "Recurring Buy" feature is available on our Web Platform, which means our users can now purchase crypto automatically with as little as 10 EUR directly from their browser.

Recurring Buy is available on the left hand side menu after you log into your account.

Recurring Buy now available on Web!Recurring Buy on WebThe smartest and easiest way to invest in cryptoSimple SetupSchedule a recurring buy in a few stepsAutomatic PurchasesBuy crypto daily, weekly, biweekly or monthlyStart Small or Go BigSet up regular purchases as low as €10 or as high as €10,000Available crypto

Recurring buy can be used with all 7 types of cryptocurrencies currently handled on our platform:

Bitcoin (BTC)Ethereum (ETH)Ethereum Classic (ETC)Litecoin (LTC)Bitcoin Cash (BCH)Monacoin (MONA)Lisk (LSK)Purchase frequency

You can select from daily, weekly, biweekly and monthly.

Minimum purchase amount

It can be set from as little as 10 EUR.

Recurring Buy fee

There is no additional fee for Recurring Buy. Click here for details on other fees.

Available devices

Apart from Web, our recurring buy feature is also available on our mobile app "bitFlyer wallet" (iOS, Android).

Recurring Buy now available on Web! Recurring Buy now available on Web!

Already a bitFlyer customer? Login!
New to bitFlyer? Register now!

Important notes :

*Please ensure that there are sufficient funds in your bitFlyer account before the scheduled day of purchase. If there is an insufficient balance, the purchase will not be executed.

*Unless a purchase is not executed, the automatic purchase scheduling will not be cancelled.

*The time for purchase cannot be specified. bitFlyer will decide the time of purchase on the designated date.

*The rate used at the time of purchase will be based on the price on our Buy/Sell service.

*System troubles on the bitFlyer side may cause the purchase not to be executed. In that case, no automatic purchase will be executed until the next scheduled purchase.

- bitFlyer Europe
Introducing our New Logo!
Introducing our New Logo!

Today, we present you the new brand logo of bitFlyer! Let’s take a look at what changed:

Introducing our New Logo!Old Logo and New Logo

In this update, we have retained the best features of the former Logo and changed the colors to be brighter and more vivid.

Additionally, the font used in the new Logo is unique to bitFlyer but remains reminiscent of our previous one.

This change will be reflected on our Web platform as well as on our iOS and Android App.

If you’re curious to check our new Logo by yourself, sign in to your account:

Already a bitFlyer customer? Login!
New to bitFlyer? Register now!

Alternatively, download our App today:

Introducing our New Logo! Introducing our New Logo!
- bitFlyer Europe
Our new Funding Page is here!
Our new Funding Page is here!

We are happy to announce that we have updated the user interface of our Funding page on the Web (desktop version).

Our new Funding Page is here!New look of our Deposit EUR page

With the introduction of a sidebar on our Funding page, navigating between coins or deposit methods has never been easier!

Additionally, the simplified interface allows for a smoother experience when trying to deposit or withdraw your funds on our platform.

Our new Funding Page is here!New look of our Deposit BTC page

Check out our new Funding page today!

Already a bitFlyer customer? Login!
New to bitFlyer? Register now!
- bitFlyer Europe
Happy Bitcoin Pizza Day 2021!
Happy Bitcoin Pizza Day 2021!

Today is May 22nd, which means it's Pizza Day for the Bitcoin/Crypto community!

On May 22nd 2010, Laszlo Hanyecz bought two Pizzas for 10,000 BTC, which was worth around €33.00 back in 2010. This payment now acts as a milestone for the digital currency, and is acknowledge to be one of the first purchases of a product with Bitcoin.

In case you are new to Bitcoin, here is a quick guide to get you up to speed:

What is Bitcoin? - A bitFlyer Academy Guide for BeginnersLaunched in 2009, Bitcoin is the world’s first cryptocurrency, also known as “Digital Gold”. Satoshi Nakamoto, the pseudonymous founder, introduced Bitcoin as ‘Open Source Peer-2-Peer Money’ for secured, verifiable digital transactions without involving intermediaries like banks.Happy Bitcoin Pizza Day 2021!bitFlyer EuropebitFlyer EuropeHappy Bitcoin Pizza Day 2021!

As of today, and for the 11th birthday of Pizza Day, 1 Bitcoin is worth around €30,000, which means Laszlo bought two Papa John's Pizzas, for €300 Millions if it happened today. Just wow.

Happy Bitcoin Pizza Day 2021!Check our BTC Chart pageHow much was Bitcoin that day?

Have a look at our blogpost from last year, when we celebrated the 10th anniversary of the Pizza Day with this jaw-dropping infographic:

From two pizzas to your own private island: Tracking the value of 10,000 Bitcoin to celebrate Bitcoin Pizza Day 2020We have done a bit of research to find out what you could have bought with 10,000 bitcoins on Bitcoin Pizza Day in 2010 all the way up to today. So what might those bitcoin millionaires amongst you choose to buy to celebrate ten years of Bitcoin Pizza Day?Happy Bitcoin Pizza Day 2021!bitFlyer EuropebitFlyer EuropeHappy Bitcoin Pizza Day 2021!Refer a friend, get a Pizza... Sort of!

Fancy a Pizza yourself today? Well we can help! Successfully refer a new user to bitFlyer and treat yourself with the 10€ reward!

bitFlyer Referral Program - Invite friends, get free BTC!Today we launched our new Referral Program where you and your friends can earn rewards! Both you and your friend will get €10 worth of Bitcoin each when your friend creates an account and trades €100 of crypto or more.Happy Bitcoin Pizza Day 2021!bitFlyer EuropebitFlyer EuropeHappy Bitcoin Pizza Day 2021! Already a bitFlyer customer? Login!
New to bitFlyer? Register now!
Happy Bitcoin Pizza Day 2021! Happy Bitcoin Pizza Day 2021!
- bitFlyer Europe
The updated interface of Buy/Sell on the web is here!
The updated interface of Buy/Sell on the web is here!

We are happy to present you our new interface of Buy/Sell available on the web (both desktop and mobile). Let’s see what are the new functionalities:

The updated interface of Buy/Sell on the web is here!News articles - up to three the most important articles from the cryptocurrency industry daily.
Market Statistics - the highest and lowest movements of the prices and market capitalization in the last 24 hours.
Currency description of each coin available on the bitFlyer platform.
Trading History - clear overview of the history of your orders.

The web version of updated Buy/Sell functionality is also available on mobile:

The updated interface of Buy/Sell on the web is here!The updated interface of Buy/Sell on the web is here!

Trading crypto has never been easier! Check the new functionalities on your own today.

Already a bitFlyer customer? Login!
New to bitFlyer? Register now!
- bitFlyer Europe
New home screen for our iOS and Android app is now live!
New home screen for our iOS and Android app is now live!

Today, we present you our new home screen of the bitFlyer App for iOS and Android! Let’s take a look what changed:

1. New interactive home screen banners that will allow you to make a quick action:

New home screen for our iOS and Android app is now live!

2. Display of the coins with the biggest movements in the last 24 hours:

New home screen for our iOS and Android app is now live!

3. Direct banners to our special offers and blog so you don’t have to look for them inside the app!

New home screen for our iOS and Android app is now live!

If you’re curious to check the improvements by yourself, download now the bitFlyer App:

New home screen for our iOS and Android app is now live! New home screen for our iOS and Android app is now live!Start trading today!

Go further with the bitFlyer with our App, as you can setup recurring purchases and earn BTC with our referral program.

Set up regular crypto purchases with Recurring Buy, now live on our App!Today, we are launching a new “Recurring Buy” feature, which means our users can now purchase crypto automatically with as little as 10 EUR by a simple set up. You can use it from our mobile app “bitFlyer wallet”, available on both iOS and Android.New home screen for our iOS and Android app is now live!bitFlyer EuropebitFlyer EuropeNew home screen for our iOS and Android app is now live!bitFlyer Referral Program - Invite friends, get free BTC!Today we launched our new Referral Program where you and your friends can earn rewards! Both you and your friend will get €10 worth of Bitcoin each when your friend creates an account and trades €100 of crypto or more.New home screen for our iOS and Android app is now live!bitFlyer EuropebitFlyer EuropeNew home screen for our iOS and Android app is now live! Already a bitFlyer customer? Login!
New to bitFlyer? Register now!
- bitFlyer Europe
bitFlyer Referral Program - Invite friends, get free BTC!
bitFlyer Referral Program - Invite friends, get free BTC!

Today we launched our new Referral Program where you and your friends can earn rewards! Both you and your friend will get €10 worth of Bitcoin each when your friend creates an account, makes a deposit and trades €100 of crypto or more.

Our Referral Program now available on Web!Today we launched our Referral Program on Web!bitFlyer Referral Program - Invite friends, get free BTC!bitFlyer EuropebitFlyer EuropebitFlyer Referral Program - Invite friends, get free BTC!bitFlyer Referral Program - Invite friends, get free BTC! bitFlyer Referral Program - Invite friends, get free BTC!How does it work?

1. Make sure you have the latest version of the App on your phone or tablet.

2. Open your bitFlyer App and go to the “Invite Friends” section accessible from the Menu

bitFlyer Referral Program - Invite friends, get free BTC!

3. Get your own referral link from the “Send Invite” button.

bitFlyer Referral Program - Invite friends, get free BTC!

4. Choose a friend and send the link with an invitation.

5. Your friend needs to click on the link, then install the bitFlyer Wallet App and create a bitFlyer account*. They should fill out Invitation code which is in the invitation. Without the code, both you and your friends will not be eligible for the rewards.

bitFlyer Referral Program - Invite friends, get free BTC!

6. Your friend makes a deposit and trades €100 or more worth of any crypto. (Crypto deposit is not eligible for this program)

7. Both you and your friend receive €10 worth of Bitcoin!

* Currently, the referral program is only available through the bitFlyer Wallet app. If your friend creates an account on the web, you will not be eligible for the reward.

Details about the program

The rewards will be sent out within 24 hours after your referral deposits and trades €100 or more and there is no upper limit to the number of people that can be referred.

Your friends can trade crypto on Buy/Sell or using Instant Buy and Recurring Buy features. Trading activity generated on the bitFlyer Lightning platform is excluded.

If you have more questions, please visit our FAQ or contact us.

Ready to get started? Download the App!bitFlyer Referral Program - Invite friends, get free BTC! bitFlyer Referral Program - Invite friends, get free BTC!

Disclaimer:

• To be eligible to participate, individuals must be at least eighteen (18) years of age.

• To be eligible to participate, individuals must be residing within the European Economic Area.

• To be eligible to participate, individuals must be upgraded to Trade PRO on the bitFlyer platform

• bitFlyer accounts are limited to one account per person. Customers who already have a bitFlyer account before the initiation of this referral program can not create duplicate accounts.

• Customers who have closed their bitFlyer account at the time of granting the rewards are not eligible for this program

• If a referred user fails to complete the requirements to obtain a bonus within 90 days of opening his or her account, neither party will receive a bonus.

• To be eligible for the referral bonus payout, individuals must deposit 100EUR or more by bank transfer, Paypal or credit card. Crypto deposits are not eligible to qualify under this program.

• To be eligible for the referral bonus payout, all qualifying trades must be placed via bitFlyer’s Buy/Sell Marketplace options (Instant buy or Recurring buy). Lightning exchange orders are not eligible to qualify under this referral program.

• Opening an account through any method other than the invitation URL will forfeit eligibility for this program.

• Customers who had a bitFlyer account before the start of this program are not eligible to be referred.

• Customers who have frozen or restricted accounts before the start of this program are not eligible for this program.

• The rights acquired through the program cannot be transferred to another person.

• The BTC/EUR exchange rate will be based on the rate on our exchange platform at the time of rewarding.

• The purpose of this program is to attract new customers and reward those customers who genuinely intend to become our active  customers and use our services. Therefore if we detect certain behavior indicating that an individual is using this referral program for the sole purpose of collecting rewards without genuine intention to use our service, we may disquality eligibility for the program in such cases. For example, customers who meet the following criteria may forfeit their eligibility to receive rewards. Even if the rewards have already been granted, they may be recollected. Eligibility for further participation in this program may also be forfeited.

• If it has been identified that the customer has more than one account

• If the registered email address is unable to receive emails or does not receive the email sent for this program

• If the account was created using false information

• If we discover any fraudulent activity such as spoofing, affiliates, etc.

• Any other action that is deemed to violate our Terms of Use, illegal, or failure to meet our requirements

• Please note that the list is not exhaustive.

• In case of recollection, whichever is available and has the higher value of the below will be recollected from the customer's account. The crypto/EUR rate will be based on the rate on our exchange platform at the time of recollection.

• Amount of BTC granted as the reward;
• 10€ worth of other crypto held (in case there is no BTC available); or
• 10€

• We will not respond to any inquiries regarding customers eligibility.

• Please refer to our Privacy Policy for information on how we handle personal information. bitFlyer may change, suspend, cancel, or terminate some or all of the parts of this program without prior notice. bitFlyer is not responsible for any losses incurred due to changes, suspension, cancellation, or termination of this program.

• This program is subject to change, suspension, or cancellation without notice.

• If you have any questions about this program, please contact us info.eu@bitflyer.com.

- bitFlyer Europe
What is Lisk? (LSK) - A bitFlyer Academy Guide for Beginners
What is Lisk? (LSK) - A bitFlyer Academy Guide for Beginners

Lisk (LSK) is a blockchain-based, decentralised computational platform. It was founded in early May 2016, by Max Kordek and Oliver Beddows.

As a fork of Crypti, a JavaScript-based platform for dApps, Lisk’s primary vision is to broaden and ease the accessibility of blockchain technology, both in development and usage. What does LSK means? Well is the name of the project’s utility token, used to pay for transaction fees on the Lisk blockchain.

What is Lisk? (LSK) - A bitFlyer Academy Guide for BeginnersThe Lisk Ecosystem: Elements & Features

What is Lisk? Lisk is predominantly a platform for creating and deploying Decentralised Applications or dApps—applications hosted on globally distributed computer networks, rather than on centralized servers.

The platform’s users can create, publish, distribute, and monetise their dApps, as well as leverage the ecosystem’s native cryptocurrency, LSK. In other words, Lisk is a self-sustaining and integrated platform, supporting features such as smart contracts, blockchain-based storage, and so on.

Interested in buying Lisk? Register now!
JavaScript Compatibility

Substantial learning curves associated with specific programming language requirements have been a major obstacle to the wide-scale adoption of blockchain-based solutions. Lisk addresses this problem by enabling dApp development in JavaScript (JS), which is especially appealing to developers with a traditional outlook.

Apart from JS, Lisk also works with TypeScript, which is another commonly-used language for web development. Consequently, unlike in the case of Ethereum, developers working with Lisk don't usually have to learn a new, platform-specific programming language.

The Delegated Proof of Stake Protocol (DPoS): Resource-Optimised Consensus

Despite watertight security, the Proof-of-Work (PoW) consensus protocol, implemented by Bitcoin, among others—has severe scalability and environmental trade-offs. As a scalable and eco-friendly alternative, Lisk adopts a Delegated Proof of Stake (DPoS) consensus mechanism.

Briefly put, every member of the network, that is LSK token holders, can vote for 101 delegates. In this context, casting a vote means ‘staking’ (locking) a predefined amount of LSK tokens in special wallets. In turn, the ‘active delegates’ are responsible for validating Lisk transactions and for creating blocks.

What is Lisk? (LSK) - A bitFlyer Academy Guide for Beginners

The Lisk blockchain is considerably fast, with new blocks being created roughly every 10 seconds, while each cycle of 101 blocks takes around 16 minutes for settlement—to compare, Bitcoin takes around 10 minutes for the creation of new blocks.

Complementing the network’s sidechain architecture, the said validation mechanism enhances scalability. Furthermore, delegates are incentivised through rewards, distributed in LSK tokens.

The Mechanisms of Lisk: Fostering Innovation with SDK

Extending blockchain’s accessibility to the general populace is Lisk’s primary mission. The platform is predominantly focused on decentralised software development, while the LSK token serves as the system’s internal mode of value exchange. In this context, Lisk’s Software Development Kits or SDKs play a crucial role.

The Lisk SDK

Lisk’s SDK represents a reliable, easy-to-use, and customisable toolkit, designed to assist the development of Lisk-compatible applications. Broadly, the kit has three components:

Framework: Establishes and maintains the interactions between modules on the Lisk network.Elements: A collection of libraries, used to implement various functionalities to custom dApps.Commander: A command line tool that enables Lisk users to interact with the underlying blockchain.Lisk & Ethereum: A Brief ComparisonWhat is Lisk? (LSK) - A bitFlyer Academy Guide for Beginners

In general, both Ethereum and Lisk are distributed computational platforms, in other words, decentralised super computers, that allow users to create blockchain-based applications. However, despite Ethereum being the most popular ecosystem of its kind, Lisk has certain distinctions which are better-suited for certain requirements.

Lisk has a sidechain architecture for greater scalability, while Ethereum does not.Ethereum has a platform-specific programming language, called Solidity, whereas Lisk is compatible with JavaScript and TypeScript.Ethereum’s execution environment, called Ethereum Virtual Machine (EVM), is secured using a PoW-PoS hybrid, while the Lisk Virtual Machine implements a Delegated Proof of Stake (DPoS).With a 10 second blocktime, as compared to Ethereum’s 15 second, Lisk is the faster one out of the two ecosystems.

Considering the above points, it’s evident that Lisk is a potent alternative to Ethereum, with a wider scope in certain regards. To participate on the network, users can buy, sell, and trade LSK on bitFlyer. Join bitFlyer today.

Already a bitFlyer customer? Login!
New to bitFlyer? Register now!

Disclaimer:

The information contained in this article is for general information purposes only. bitFlyer EUROPE S.A. is in no way affiliated with any of the companies mentioned herein. Neither does bitFlyer assume any responsibility nor provide any guarantee for the accuracy, relevance, timeliness or completeness of any information provided for by these external companies.

You accept that you are responsible for carrying out your own due diligence when investing. bitFlyer shall in no way be responsible for any acts taken on account of this article nor does bitFlyer provide any investment advice for its users.

- bitFlyer Europe
What is Litecoin? (LTC) - A bitFlyer Academy Guide for Beginners
What is Litecoin? (LTC) - A bitFlyer Academy Guide for Beginners

Commonly known as the first successful altcoin, Litecoin is one of the early spinoffs of Bitcoin, started in 2011 as an attempt to make a cryptocurrency more appropriate for use as digital cash.

Created by developer Charlee Lee, Litecoin has some advantages over its other cryptocurrency competitors. For instance, compared to Bitcoin, Litecoin offers much lower transaction fees. It is consistently ranked in the top five and top ten cryptocurrencies, holding ground with a stable market share of around 5% since its creation, even as other coins rise and fall in popularity.

Despite introducing new possibilities for the world of finance and technology, Bitcoin’s core came with significant usability and scalability shortcomings Litecoin (LTC) was created as an alternative solution to these problems.

What is Litecoin? (LTC) - A bitFlyer Academy Guide for Beginners

Litecoin emerged out of a Bitcoin fork, proposed and developed by Charlie Lee, a renowned computer scientist. The project’s primary vision was to become the silver to Bitcoin’s gold, thereby widening people’s access to cryptocurrencies. Prior to incepting the Litecoin Foundation in 2017—a non-profit backing the Litecoin project—Lee worked at Google and Coinbase, among other firms.

Interested in buying Litecoin? Register now!
Distinguishing Features: How Does Litecoin Work?

In general, Litecoin’s primary ‘competitor’ is Bitcoin, although the two networks complement each other in several regards. For one, Litecoin inherited Bitcoin’s code, enhancing the same with many novel implementations.

On the other hand, Litecoin pioneered technologies like the Lightning Network and Segregated Witness (SegWit), which have eventually been adopted by Bitcoin.

Scrypt for Speed

In terms of transaction settlement, Litecoin is nearly four times faster than Bitcoin. To achieve this, Litecoin implements a modified version of Bitcoin’s Proof-of-Work (PoW) consensus mechanism, namely Scrypt.

The implementation aligns with Litecoin’s agenda of addressing concerns related to ASIC-based mining, in which it has been partially successful. Instead of using highly expensive ASIC hardware, Litecoin miners can work with more affordable Graphics Processing Units (GPUs).

Thanks to Scrypt, Litecoin successfully reduced the block confirmation time, the time taken to finalise new blocks, to 2.5 minutes, as compared to Bitcoin’s 10 minutes. As a result, while Bitcoin settles roughly 7 transactions per second, Litecoin completes around 56 transactions per second.

SegWit for ScalabilityWhat is Litecoin? (LTC) - A bitFlyer Academy Guide for Beginners

Blockchain-based transactions are cryptographically encrypted, meaning that they include signatures of the sender and/or receiver to ensure authenticity and so on. In the original Bitcoin Core, these signatures were included in the transaction, so to say, thus increasing the size of each transaction.

In 2017, Litecoin implemented Segregated Witness or SegWit, a solution proposed by Blockstream co-founder, Pieter Wuille. To put it simply, SegWit separates signatures from transactions, putting them into the associated input rather than in the transaction.

This effectively reduces the transaction’s size, and consequently, more transactions can be added to each block. Combined with Scrypt, SegWit imparts a heightened scalability to Litecoin, which in turn, makes the network more relevant for large-scale usage.

The LTC Token: Litecoin’s Native Cryptocurrency

Similar to Bitcoin, Litecoin is an open-source, peer-to-peer digital currency, based on the network’s native cryptocurrency, namely the LTC token. It can be used for a range of financial purposes and has a maximum supply of 84 million.

Litecoin’s fully decentralised payment network supports near ‘zero fee’ for transactions in LTC. Moreover, the token’s code architecture facilitates optimum efficiency in terms of storage. It also provides greater security against malware, viruses, and hacks.

What is Litecoin? (LTC) - A bitFlyer Academy Guide for Beginners

Rewarding miners to incentivise desirable behaviour is one of LTC’s primary internal functions within the Litecoin network. Initially, the block reward was 50 LTC. However, the algorithm halves the amount every 4 year (roughly, after every 840,000 blocks). At the time of writing, in early 2021, miners receive 12.5 LTC tokens for each block.

Backed by the network’s functionalities and inherent value, LTC’s market performance has progressed steadily over time. To know more about Litecoin, as well as to buy, sell, and trade LTC, join bitFlyer and follow our blog.

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- Mike Dalton

The U.S. Commodity Futures Trading Commission (CFTC) committed to regulating crypto tokens not classified as securities during a conference on Feb. 3.

CFTC chairman Rostin Behnam explained the regulator’s stance during the ABA Business Law Section Derivatives & Futures Law Committee Winter Meeting.

There, Benham said that there is more room for crypto regulation. He said:

“There remains a gap in crypto cash market regulation for non-security tokens, and I believe the CFTC is well positioned to fill this specific gap if Congress so chooses.”

Benham said that the CFTC will engage with the latest meeting of Congress to achieve that end. The 118th U.S. Congress began on Friday and will last for two years until Feb. 3, 2025. It maintains a Democratic Senate majority but introduces a Republican House majority — one factor that could impact the CFTC’s interactions with lawmakers.

Benham highlighted various bankruptcies and collapses in 2022 and said that regulation is needed to protect customers and limit failures.

He then described the CFTC’s efforts in the crypto space. Benham noted that the CFTC’s compliance branch has asked crypto derivatives platforms to demonstrate regulatory compliance. He added that the CFTC carries out regular meetings with registered platforms. He also said that one CFTC division is considering whether certain platforms that trade crypto derivatives should introduce trading restrictions on their employees.

Benham additionally highlighted specific CFTC cases from the past year, including a landmark case against OokiDAO and a case against FTX and Alameda Research.

He noted that the CFTC has brought forward 69 actions involving digital assets to date, adding that cases involving digital assets made up 20% of the regulator’s 82 actions last year. He called these results “outstanding” due to the CFTC’s “very limited authority.”

The CFTC currently plays a more minor role in crypto regulation than the U.S. Securities and Exchange Commission (SEC). The SEC dominates the area because many crypto projects can be considered securities. The SEC often penalizes crypto exchanges, lending platforms, and token sales and offerings and takes action against fraud.

Developments last year suggested that the CFTC could gain a greater role in crypto regulation. SEC chairman Gary Gensler also endorsed granting a larger role to the CFTC.

The post CFTC commits to regulating crypto products that are not securities appeared first on CryptoSlate.

- Mike Dalton

Members of a jury have cleared Tesla CEO Elon Musk in a case that accused him of securities fraud, according to a report from CNBC on Feb. 3.

Jury declares Musk not liable

Shareholders initially sued Musk over several tweets dating back to August 2018. At that time, Musk said that he had secured funding to take Tesla private at $420 per share and said investor support was confirmed. Public trading for Tesla stock was temporarily suspended, seemingly confirming Musk’s plans.

Musk also published a letter on the official Tesla website. In that letter (and in his original tweets), Musk said the deal was not final but stated that he was considering it.

Musk’s attorney said that the Tesla CEO did not think ahead and realize how his comments could be interpreted. He analyzed Musk’s statements today, stating:

“You have to assess this in context – he’s considering taking it private and the issue is will it actually take it forward … No fraud has ever been built on the back of a consideration.”

According to earlier reports from Reuters, Musk said during the trial that he believed his tweets were honest. He said that he had arranged a verbal commitment with Saudi Arabia’s sovereign wealth fund and that the fund backed out of the deal.

Shareholders alleged that, because Musk ultimately did not take the company private, they made investment decisions based on false information. This supposedly cost them significant money due to changes in Tesla’s stock value.

Members of the jury disagreed that this constituted securities fraud, as they declared Musk not liable after two hours of discussion today.

Tesla shares (TSLA) are up 0.91% today.

Musk’s controversial impact on crypto

Musk’s lawyer highlighted the CEO’s controversial reputation by stating during the trial that his client is not a “tweeting monster.”

Musk’s presence on Twitter has become similarly divisive within the cryptocurrency community. Musk and his companies were sued for $258 billion in 2022 over his alleged role in propping up Dogecoin in his tweets. That lawsuit has yet not concluded. It expanded to include more members in September.

Musk has not faced any lawsuits over his influence on the price of Bitcoin — which he only influences to a non-significant degree, according to recent studies.

Today’s news comes days after Tesla’s investor report revealed that the company saw a $140 million loss on its Bitcoin investments in 2022.

Tesla invested $1.5 billion into Bitcoin in 2021 and sold off 75% of its holdings last year. It now holds $184 million of Bitcoin due to that sell-off and due to price changes.

The post Elon Musk cleared in trial over Tesla tweets appeared first on CryptoSlate.

- Mike Dalton

A lawsuit from Craig Wright that aims to have Bitcoin developers surrender crypto and modify code can go to court, Reuters reported  Feb. 3.

Wright is suing 15 developers in an attempt to obtain 111,000 BTC worth $2.5 billion. Supposedly, Wright suffered a hack years ago, leading him to lose access to keys that would have allowed him to withdraw crypto from various addresses. (One of those addresses is believed to hold stolen funds related to the Mt. Gox hack, despite Wright’s assertions.)

If Wright wins the case, the developers could be required to write software patches that would help his company, Tulip Trading, recover the full amount.

Wright has been pursuing this action in the U.K. since at least February 2021. Though the case was dismissed last year, the U.K.’s Court of Appeal ruled today that developers may owe duties to owners of a blockchain. Judge Colin Birss said that Tulip has a “realistic argument” that crypto is entrusted to developers and that those developers may be required to introduce code that moves the owner’s Bitcoin to a safe location.

James Ramsden, the lawyer representing several developers appealing the case, said that his clients are “incredibly nervous.” In addition to possibly being made to pay money themselves, the outcome could also impact blockchain development on a broad scale.

Wright has had a tumultuous relationship with the cryptocurrency community due to his claims that he is Satoshi Nakamoto — the pseudonymous inventor of Bitcoin. He, nevertheless, has been involved with Bitcoin from an early and has managed to leverage that role in various legal cases. He has had certain victories in copyright cases, as well as technical wins and non-final losses in defamation cases.

The post Craig Wright’s lawsuit against multiple Bitcoin developers will go to trial appeared first on CryptoSlate.

- Dorian Batycka
ETH passes $1,700 for first time since September, but analysts say local top is in play

Ethereum briefly surpassed $1,700 on February 2, soaring more than $500 since the start of the year, but some analysts say the bullish activity on the crypto may be short-lived.

A chart published by the market intelligence platform Santiment identified several key points that suggest a local top may be in.

Ethereum, Ratio of Profit/Loss, Exchange Supply Source: SantimentEthereum, Ratio of Profit/Loss, Exchange Supply Source: Santiment

The chart overlaid 3 key metrics:

Price (ETH) The ratio of daily on-chain volume in profit loss (ETH) Supply on exchanges (as % of total supply) (ETH)

It found that there is a large gap forming between major ETH profit taking and the availability of ETH supply on exchanges.

On February 2, major ETH profit taking hit its highest level since February 2021, the chart shows.

That same day, on February 2, ETH supply on exchanges fell to below 11.25%, their lowest level since June 2018.

This, analysts say, may point to a local top forming into the weekend with ETH currently stable at around $1,640.

The post ETH passes $1,700 for first time since September, but analysts say local top is in play appeared first on CryptoSlate.

- Zeynep Geylan
Research: BTC price surge increases miner profitability, indicating market bottom

Glassnode data analyzed by CryptoSlate analysts suggests that rising Bitcoin (BTC) price also increases miner profitability and revenue, which have been historical pointers for market bottoms.

CryptoSlate looked into the Difficulty Regression Model and Miner Revenue vs. Yearly Average comparison metrics to evaluate miners’ profitability. While both metrics agree that things are going swimmingly for BTC miners, the ASIC Rig profitability metric revealed that the hash rate reached a new all-time high.

Difficulty Regression Model

The Difficulty Regression Model is used to make sense of the all-in-sustaining cost of producing one BTC. It takes mining difficulty as the ultimate distillation of the cost of mining, accounting for all the mining variables in one number. Therefore, the calculated value reflects an estimated average production cost for mining one BTC.

The chart below shows the Difficulty Regression Model for BTC since 2010 with the purple line and the price of BTC with the black line. BTC mining becomes profitable when the purple line indicates a cost lower than the BTC price, which is illustrated in the red areas below. Similarly, if the purple line exceeds the black one, it means that BTC mining is not profitable, which creates the green zones on the chart.

Difficulty Regression Model for BTC (Source: Glassnode)Difficulty Regression Model for BTC (Source: Glassnode)

Currently, the data shows that the all-in-sustaining cost of producing one BTC is $20,000. This is a slightly lower value than the current BTC price, which lingers around $23,554 at the time of writing.

In addition to mining profitability, the chart demonstrates the historical relationship between the all-in-sustaining cost of producing one BTC and the market bottoms. Since 2010, the all-in-sustaining cost of producing one BTC marked a lower value than the BTC price on five different occasions in 2011, 2012, 2018, 2019, and 2021, all of which were followed by an increase in the BTC’s value. Historically, it can be said that this situation might signal a market bottom.

Miner Revenue vs. Yearly Average

The Miner Revenue vs. Yearly Average comparison is used by analysts who want to measure daily volatility against a longer-term trend. This metric takes the total daily revenue generated by BTC miners in U.S. dollars and compares it to the 365-day simple moving average.

The chart below starts from mid-2016 and represents the total revenue paid to miners and the 365-day simple moving average with the orange and blue lines, respectively.

Miner Revenue vs. Yearly Average for BTC (source: Glassnode)Miner Revenue vs. Yearly Average for BTC (source: Glassnode)

The aggregated revenue generated by miners has been below the 365-day simple moving average level since the beginning of 2022. According to the chart, the total revenue generated by miners is currently around $22.5 million, while the 365-day simple moving average is roughly $24.6 million.

This relationship also indicates market bottoms. A BTC price surge was recorded whenever the aggregate revenue created by miners exceeded the 365-day simple moving average. The data also shows that the miners’ income has been increasing since the beginning of 2023. If the increase continues, the aggregate revenue might break through the 365-day simple moving average resistance, greenlighting a market surge.

ASIC Rig Profitability

This metric estimates a U.S. Dollar value for the denominated daily profit earned by an Antminer S19 XP Hyd ASIC rig under various all-in-sustaining-cost AISC assumptions.

The Antminer S19 XP Hyd ASIC rig was released in October 2022 and can reach 255 Th/h hash rate, consuming 5304 watts.

The chart below shows the ASIC Rig Profitability for BTC since the beginning of 2022 with the turquoise line. The line indicates profitability if it marks a point lower than the BTC price.

ASIC Rig Profitability for BTC (Source: Glassnode)ASIC Rig Profitability for BTC (Source: Glassnode)

According to the chart, the Antminer S19s have become profitable at the beginning of 2023. The all-in-sustaining cost sits at roughly $0.15. This caused miners to turn back on the Antminer S19s rigs, which increased the hash rate to the point of a new all-time high.

BTC Hash Rate Adjustment Percent Change (Source: Glassnode)BTC Hash Rate Adjustment Percent Change (Source: Glassnode)

The chart above represents the BTC hash rate with the orange line since the beginning of 2021. The hash rate has been growing exponentially since the beginning of 2023, which has also been strengthening network security.

The post Research: BTC price surge increases miner profitability, indicating market bottom appeared first on CryptoSlate.

- Christian Nwobodo

Russian leading lender Sberbank has hinted at plans to launch decentralized finance (DeFi) platform on the Ethereum blockchain by the end of May, 2023, Interfax news reports.

Sberbank director of the blockchain laboratory Konstantin Klimenko disclosed that the Russian bank was at an advanced stage of developing its DeFi platform.

He said that the Ethereum-based protocol is currently in beta testing mode but will be available for open testing in March.

At the end of April, the platform will be fully open, and then it will be possible to carry out some commerical operations on it,’ Klimenko added.

Users will need a MetaMask crypto wallet to connect and trade on the Etheruem-based DeFi platform.

Klimenko said that he is optimistic that DeFi platforms could reduce banking costs and eventually replace traditional banks.

Serbank had earlier received approval to issue digital assets and moved to launch Russia’s first blockchain exchange-traded fund.

The post Russia-based Sberbank to launch DeFi platform on Ethereum appeared first on CryptoSlate.

- Zeynep Geylan

Adopting a wait-and-see approach is the best way to regulate the DeFi space, according to a report by Binance and the National Bank of Kazakhstan.

While waiting to see how the market would develop, the pair suggested increasing the collaboration between the regulators, building and learning through a regulatory sandbox, and educating both the consumers and the lawmakers, according to their joint report titled “State of the Digital Assets Industry and DeFi in central Asia.”

Recommendations

Binance and Kazakhstan agreed that the best approach to regulating the DeFi space is to let it evolve on its own while spending time analyzing the space and experimenting with regulations.

The first suggestion of the report is to deepen collaboration between regulators and the participants of both traditional finance and DeFi. This would allow centralized and decentralized finance to find a way to co-exist together. Therefore, the report adopted a unifying perspective and stated:

“Decentralized exchanges will be bigger than centralized exchanges. However, in the future centralized and decentralized crypto protocols can co-exist as many people will still prefer the conventional methods of accessing their accounts.”

In the spirit of co-existing, the report suggested building a regulated, user-friendly infrastructure that bridges the two spheres as the second step. This infrastructure will bring CeFi and DeFi closer by facilitating crypto-to-fiat transactions.

Another suggestion encourages building a regulatory sandbox to test and learn while running joint research and development projects to study the DeFi space. Gaining expertise in these areas will allow further development by bringing legal clarity to DeFi-related activities.

Finally, the report mentioned the importance of improving consumers’ financial and digital literacy while closing the crypto knowledge gap of lawmakers.

Wait and see

To see how the world attempts to regulate the crypto sphere, the report took a detailed look into various regulatory frameworks from around the world and categorized them under three main approaches:

Applying traditional regulatory frameworks Composing a new framework that addresses the challenges listed above Adopt a “wait and see” approach

The report argued “imposing regulations that are not fit for purpose” will stifle innovation in the DeFi ecosystem. Composing a new framework is also suspended because it “seems premature at this stage because public authorities, as well as the ecosystem, need more time to understand all the use cases linked to DeFi .”

Therefore, the report concluded that the third option is the best choice lawmakers can make now.

Regulatory challenges

DeFi allows users to enter into financial transactions without intermediaries and lend or borrow money from their peers. Since it doesn’t rely on an official entity, it is hard to regulate the Defi space. According to the report, DeFi’s nature poses several challenges to the regulators.

First of all, the lack of financial and digital literacy of users, regulators’ lack of crypto knowledge, irrational behavior of investors, legitimacy of the data provided by oracles, lack of decentralization, and financial stability risks like liquidity runs from the banking system that stem from the fiscal policies are among the emerging trends that challenge the regulators.

Secondly, there are financial, technical, and operational risks to participants, stakeholders, and the overall market, which pose various challenges to regulators. Risks like market manipulation, technical failures, forks, vulnerabilities of the governance systems, scams, fish-loan attacks, and cyber attacks must be addressed.

Binance and Kazakhstan

Binance and Kazakhstan started to form a partnership in mid-2022. In May 2022, Binance CEO Changpeng Zhao (CZ) personally visited the country to meet its President and many prominent lawmakers.

At the time, CZ acknowledged Kazakhstan as “one of the world leaders in the crypto industry.” CZ also said Binance would work together with the lawmakers of the country to contribute to the development of crypto in the region.

In October 2022, Kazakhstan started testing its Central Bank Digital Currency (CBDC), Digital Tenge, on the BNB Chain (BNB).

The post Binance, Kazakhstan agree on ‘wait-and-see’ approach in regulating DeFi appeared first on CryptoSlate.

- Samuel Wan

Balance CEO Ric Burton claimed he was double-crossed by Uniswap founder Hayden Adams, who, at one point, he considered one of his “closest friends.”

Burton had invested time, friendship, and an unspecified sum of money in supporting Adams to take Uniswap to market. But Burton said he feels heartbroken and sad that his efforts were never repaid.

Burton helps get Uniswap off the ground

It began in New York in Spring of 2018 with Burton looking for dApp developers. This involved hosting events and giving promising developers time, money, and studio space.

He recounted that of all the developers he came across, Adams and his unwavering enthusiasm for Uniswap stood out among the many hopefuls.

“He was on an absolute warpath. Every single time you met him all he could talk about was Uniswap.“

United by the goal of making “Ethereum magical for people,” the pair quickly became close, supporting each other in their respective struggles to make it.

“We were there for each other during the ups and downs of trying to build startups in an ecosystem with very few solid projects.“

Burton said he believed in Adams and his simplicity-focused AMM DEX concept and thought nothing of granting him unlimited studio access. When Adams ran out of money, Burton paid his rent, even dipping into Balance’s money to cover his expenses.

Realizing the protocol’s potential, the Ethereum Foundation soon came knocking, marking a significant turning point. With crypto investment firm Paradigm on board as well, the future looked bright.

Adams goes AWOL

Adams told Burton he intended to include him in the Uniswap round as repayment for his help. Burton trusted Adams to keep his word.

Time passed, and in March 2019, Burton encountered personal difficulties, including the loss of his grandmother. Without disclosing the finer details, he said he was also asked to leave Balance by the other co-founder.

“Suffice to say, things were not good at Balance.

Things were VERY good at Uniswap.

Hayden raised just over a $1m.”

Burton then discovered that Paradigm was not keen on including him in the round, which he put down to his difficulties at Balance.

“They were not at all interested in having a failing founder on the cap table of their new unicorn.“

During this time, Burton said Adams ignored his messages and went AWOL. But contact was re-established as the UNI token was readying for roll-out. It was then Adams made an offer to repay Burton.

However, the offer came with the condition to never discuss the events and circumstances of their relationship in public. Burton commented, “This was one of the most offensive contracts I had ever seen.”

Fast forward to now, some four years later, Burton tells this story, saying sadness had prevented him from going public sooner.

Closing out the tweet thread, Burton confirmed instigating legal action to recover the money owed. But at the same time, he expressed uncertainty in himself and this course of action by asking the Twitterverse whether they think he deserves to get nothing.

“My goal with this thread is simple: to gauge the community’s sentiment about my contribution.“

CryptoSlate reached out to Burton for further comment. No reply was received by the time of press.

The post Balance CEO alleges betrayal at hands of Uniswap founder appeared first on CryptoSlate.

- Sponsored
Undercity will open the first Act-to-Earn village in Europe

Undercity is opening a first-of-its-kind village dedicated to gamers, role players, and cosplayers in France. Spread 10,000 meter-square, the village will be everything an avid gamer hopes for and more. It will house a virtual reality room, atmosphere bar, streaming room, and retro-gaming room, to name just a few. 

In addition, the village is reproduced in the metaverse to allow access to people from around the world.

Where physical and virtual realities merge

The growth of the blockchain sector in the last few years has been impressive. The decentralized technology is penetrating a wide range of industries, from finance and gaming to health, education, and entertainment. That said, a closer look at the market reveals that blockchain use cases are largely limited to the online world. We see few Web3 applications in the physical world that we can touch and feel.

Undercity aims to change the way we have known blockchain, gaming, and the metaverse. In an unparalleled approach, it is building a decentralized gaming community that has a real-world footing. 

The project is powered by a team of pioneers in real-life entertainment for gamers. It stems from the realization that playing online is not enough for most gamers. Powerful communities are built from social interactions in the real world.

“In life, there is a limit to what can be done. In video games, we enter a totally virtual world different from reality. Especially with VR headsets (virtual reality), we feel that we are in another universe. Video games can also develop relationships of friendship. For example, in the majority of games, we have a list of friends with whom we can play and have fun. With Undercity you are connected to members,” says Jonathan Noiray, co-founder of Undercity.

New footage : UNDERCITY MULTIPLAYER #eth #underarmy https://t.co/HaQ6nlrIDj pic.twitter.com/ld5rd3kjjt

— Undercity 🛡 (@Undercity_off) January 1, 2023

A glimpse into the act-to-earn village 

To say Undercity act-to-earn village is a hub for gaming enthusiasts will be an understatement. It will be a dream come true for everyone who loves games and gaming. 

Virtual reality room: A place where you can immerse yourself in your favorite gaming universe with friends, family, or colleagues. It offers a long catalog of games and experiences.  Streaming room: Four rooms equipped with live-specific PCs, green screens, and stream decks. You can share your content and interact with your Twitch community here.  Throw of axes: A perfect stress-breaker after a long week. It features 6 targets, allowing up to 18 people in each one-hour session (up to 35 people in privatization). It will be an ideal activity for a birthday party, outdoor team sessions, when hanging out with friends, and even a date.  Massage: Who wouldn’t like a relaxing massage after hours of sitting in front of the gaming screen? The Undercity village hosts well-being massages for non-therapeutic purposes.  Cyberpunk spa and sauna: A Nordic bath at Undercity spa institutes lets you forget the worries and stress of everyday life.  Fantasy Manga library: A perfect moment of escape in the heart of the village. Read Manga and heroic fantasy books in the reading spaces and get lost in solitary pleasure. 

Retrogaming hall: Discover old games and old consoles, whether out of curiosity, to see them running, or to play them and test them. Undercity also hosts local tournaments and competitions based on retro games. The game hall has free access.  Modern gaming hall: A dream game room with free access to new generation consoles like PS5, XBOX SERIES X, and SWITCH.  Atypical accommodation: A range of modern and spacious teepees that are warm in the winter and cool in the summer. Apart from cozy and comfortable beds, they have furnished terraces where you can spend long hours in the open air. Snack bar: Drink pints and cocktails, meet friends, and sleep on the spot.

The passion project is building a hybrid village that has its physical roots in The Creuse. It is the ideal destination for the project for many reasons.

To begin with, the medieval site of The Bridiers is only two minutes from the craft site, giving it the right setting. The underground village is nine minutes away by car, close to the N145 interchange linking the A20, and a 20-minute walk away from the train station. Moreover, 8GB/SEC FIBER is available in the location, which is integral to hosting a hybrid metaverse experience. 

Visit Undercity 

Undercity introduces the first shooter metaverse

Undercity is building a VR role-play shooter metaverse that features modern multiplayer FPS games, weapons, characters, projectiles, shells, explosions, game modes, and more. The demo of the game published on the website looks promising. 

In addition, Undercity is home to the Underverse, which is a unique “open world” in 3D, where the web3 community can meet to build relationships and have unlimited fun. It will be powered by the native token UND, which allows users to create an entire web3 digital ecosystem.

Don’t Forget #UNDERCITY!🤩

We Don’t Use Any Transaction Tax, Because We Believe That Value Should Be Generated From The Project Itself, And Not Just From Trading The Token! 👏

VIDEOGAMES CREATED BY UNDERCITY🤩⬇

JOIN US : https://t.co/HaQ6nlrIDj pic.twitter.com/0WxCQz9MbM

— Undercity 🛡 (@Undercity_off) December 29, 2022

UND tokens will be up for presale in February 2023

As mentioned above, UND is the native token of the Undercity ecosystem. It is used as entrance fee to Undercity (only once), get atypical accommodation rentals (long and short term), play premium games, and make in-app purchases. When you pay for Undercity activities with UND tokens, you get a 5% discount on the price. You can also use it to pay in shops, restaurants, and bars in the village. 

Privatization of the place is done using UND tokens as well. For example, you can use it to organize events or host subscriber meetings. The project will use the token to remunerate developers, creators, and actors of Undercity. What’s more? You can rent 24-hour hosting servers, game servers, and gaming setups. 

The presale of UND tokens will begin in February 2023, held in 5 stages. A total of 57,000,000 (50%) UND will be up for sale. The high market relevance and real-world footing of the project make it one of the best crypto metaverses to look forward to this year. 

Visit Undercity 

Make sure you join our Official #UNDERCITY Telegram to:

✅ Be the first to find out the latest news
✅ Get 24/7 Support from our mods
✅ Become part of the international #UNDCommunityhttps://t.co/HaQ6nlrIDj
AND MORE!

— Undercity 🛡 (@Undercity_off) December 28, 2022

The post Undercity will open the first Act-to-Earn village in Europe appeared first on CryptoSlate.

- Dorian Batycka
Hackers steal record $3.8B during 2022 – Chainalysis

Hackers stole roughly $3.8 billion in 2022, making it a record year for stolen digital assets, according to the latest report from blockchain analysis firm Chainalysis.

According to the report, 82.1% of the amount was stolen from DeFi protocols, mainly via bridge exploits targeting vulnerabilities in code. North Korea-linked hackers Lazarus Group stole roughly $1.7 billion out of the total during the year.

Meanwhile, a new crypto mixer called Sinbad has become hackers’ go-to protocol to wash stolen funds after the demise of Tornado Cash, according to Chainalysis.

Crypto hackers’ record year

According to the Chainalysis report, the trend of DeFi protocols getting hacked which began in 2021, has intensified over 2022.

Funds stolen from DeFi protocols made up 82.1% of the total — roughly $3.1 billion. Compared to the amount stolen in 2021, the number is up 73.3% on an annual basis.

cryptocurrency stolen in hacks by victim type, 2016-2022Cryptocurrency stolen in hacks by victim type, 2016-2022 (Source: Chainalysis).

Meanwhile, 64% of the $3.1 billion stolen from DeFi protocols came from bridge exploits over the year. The biggest exploit of the year was Axie Infinity’s Ronin bridge hack in March 2022. Hackers exploited the bridge to steal $612 million and, over the coming months, began moving it through mixers like Tornado Cash and Chip Mixer.

Hackers stole roughly $775.7 million in October 2022, making it the worst month of the year.

Total value in stolen crypto hacks and hacks by month, 2022 (Source: Chainalysis)Total value in stolen crypto hacks and hacks by month, 2022 (Source: Chainalysis)

Bridge protocols allow for interoperability between blockchains. They facilitate the transfer of cryptocurrency from one blockchain to another by locking assets in a smart contract on the original chain and creating equivalent assets on the second chain.

However, these smart contracts become large centralized repositories of funds, making them a prime target for hackers who can target weaknesses inherent to the code architecture.

North Korea-linked Lazarus Group responsible for bulk of exploits

Cybercriminal syndicate Lazarus Group, which the FBI has linked to the North Korean state, has been the leading perpetrator of cryptocurrency hacks in recent years.

In 2022, Lazarus set a new record by stealing an estimated $1.7 billion through multiple hacks.

Yearly total cryptocurrency stolen by North Korea-linked hackers, 2016-2022 (Source: Chainalysis)Yearly total cryptocurrency stolen by North Korea-linked hackers, 2016-2022 (Source: Chainalysis)

According to Chainalysis, North Korea-linked hacking groups tend to favor laundering their funds through custodial mixers, rather than decentralized exchanges, or DEXs.

Destination of the stolen funds: North Korea hacks vs. All others, 2022 (Source: Chainalysis). Destination of the stolen funds: North Korea hacks vs. All others, 2022 (Source: Chainalysis).

Following sanctions against Tornado Cash in August 2022, North Korean-linked hackers have allegedly turned to another custodial mixer, Sinbad.

Sinbad Custodial Mixer

Sinbad is a newly established custodial Bitcoin mixer that started promoting its services on the BitcoinTalk forum in October 2022. Chainalysis investigators discovered North Korea-linked hackers sending funds to the service in December 2022, as shown on the Chainalysis Reactor graph below.

Mixers used by DPRK to launder funds, Q4 2020 - Q4 2022 (Source: Chainalysis)Mixers used by DPRK to launder funds, Q4 2020 – Q4 2022 (Source: Chainalysis)

The post Hackers steal record $3.8B during 2022 – Chainalysis appeared first on CryptoSlate.

- Mandy Williams
Crypto Exchange Bitfinex Transfers $8.5M to Alameda Consolidation Address

Blockchain security firm PeckShield has disclosed a series of transfers from three addresses, including one from crypto exchange Bitfinex to Alameda Research’s consolidation wallet.

According to Etherscan, the address labeled “Alameda Consolidation” received $13 million worth of crypto assets from three different wallets. The first belongs to the leading crypto exchange Bitfinex. It transferred approximately 6 million USDT and 1,545 ether (ETH), amounting to roughly $8.5 million. The other unidentified ones transferred about $6 million worth of USDC to the Alameda Consolidation address.

#PeckShieldAlert ~$13M worth of cryptos have been transferred to Alameda consolidation-labeled address, including ~6M $USDT & 1,545 $ETH ($2.5M) from Bitfinex, ~4.6M $USDC from 0x7889
Wondering why Bitfinex transferred ~$8.5M worth of cryptos to Alameda consolidation address pic.twitter.com/YU8RNcrdxs

— PeckShieldAlert (@PeckShieldAlert) February 2, 2023

Although it is unclear why Bitfinex transferred the funds to Alameda, the transactions have raised questions about the connections between the two firms. Meanwhile, Alameda has been trying to recoup funds since its parent company FTX filed for bankruptcy in November 2022. Last week, the trading company sued Voyager Digital to recover the $446 million it repaid to the bankrupt crypto lender. Despite the attempts to gather funds, a recent report revealed that Alameda’s liquidators incurred losses amounting to $11.5 million in the first two weeks of January.

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- Dimitar Dzhondzhorov
Core Scientific Hands Over 27K Mining Rigs to NYDIG to Pay off a Debt

The once-prominent bitcoin miner Core Scientific inked an agreement with the New York Digital Investment Group (NYDIG) to hand over 27,403 of its mining machines and thus pay off an outstanding debt of $38.6 million.

The company filed for bankruptcy protection a few days before Christmas 2022.

Looking for a Way Out

According to a filing with the bankruptcy court for the southern district of Texas, Core Scientific agreed to transfer over 27,000 of its mining rigs (around 18% of its total equipment) to NYDIG to eliminate its debt. The deal needs to be approved by the relevant magistrates before becoming official.

Core Scientific claimed those machines are no longer vital for its business, highlighting the importance of paying off the loan. 

It borrowed $77.5 million from the investment management firm in 2020 to expand its business. However, it stopped settling the debt towards the end of 2022 due to shrinking revenue caused by the bear market.

The miner’s net losses climbed to $1.7 billion as of Q3 2022. It sold nearly 8,000 BTC (almost its entire stash) to stay afloat, but that could not halt the freefall.

The low price of the primary cryptocurrency (compared to the 2021 bull run) and the rising energy costs pushed Core Scientific towards filing for Chapter 11 bankruptcy protection at the end of December. 

Its shares plunged to $0.05 upon announcing the news. However, the improving condition of the cryptocurrency market at the start of 2023 has caused a price surge for CORZ. Currently, stocks are worth approximately $0.47 (an 840% increase compared to the December figures).

Mining Goes on Despite the Bankruptcy

Despite its issues, the US-based organization produced 1,356 BTC in November and 1,435 BTC in December. Its self-mining computing power for the last month of the year was 15.7 EH/s, compared to 15.4 EH/s in the previous 30 days. This coincides with the company’s intentions to continue producing bitcoin to repay its debtholders.

Core Scientific also secured a $500 million fundraiser led by financial giants, such as BlackRock, Ibex Investors, Kensico Capital, and Apollo Capital. The world’s largest asset manager loaned $38 million by purchasing secured convertible notes from the miner. The leading contributor to the financing was Ibex Investors, which lent almost $100 million. 

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- Andrew Throuvalas
Orion Protocol Hacked for $3 Million Through Reentrancy Attack

Orion Protocol – a liquidity aggregator for both CeFi and DeFi exchanges – saw its core contract hacked on Thursday across both its Ethereum and Binance Smart Chains (BSC) deployments. 

The hacker netted over 1700 ETH, cumulatively worth over $3 million at writing time. 

Another Reentrancy Hack

As explained by the blockchain security company PeckShield on Twitter, Thursday’s hack was made possible “due to incomplete reentrancy protection.” A reentrancy bug refers to when an attacker may withdraw funds repeatedly from a smart contract at no cost. 

PeckShield elaborated that the swapThroughOrionPool function lets anyone with crafted tokens to hijack their transfer into re-entering the deposit asset function. This lets users increase their balance without any actual cost of funds. 

In this case, the hacker used a newly constructed token called ATK, and a self-destructing smart contract, to manipulate Orion’s pools. 

4/ The hack is started first on BSC w/ initial fund 0.4 BNB from @TornadoCash. The ETH hack draws initial fund 0.4 ETH from @SimpleSwap_io. After hack, the gain of 1100 ETH is deposited into @TornadoCash and other 657 ETH stays in the hacker’s account: https://t.co/wGG6RA0qii pic.twitter.com/lRj9HGEgQc

— PeckShield Inc. (@peckshield) February 3, 2023

Alexey Koloskov, CEO of Orion, published a thread explaining the exploit shortly after it occurred. 

“We have reasons to believe that the issue was not a result of any shortcomings in our core protocol code, but rather might have been caused by a vulnerability in mixing third-party libraries in one of the smart contracts used by our experimental and private brokers,” he said. 

Koloskov noted that the exploited contract wasn’t of major import to the public, but was mainly used by one of its experimental brokers with the company treasury. User funds, he said, are 100% safe. 

Nevertheless, Orion’s Deposit function has been closed, and will not be re-opened until the bug is patched and proper audits have taken place. 

The DeFi Honeypot

Money stolen through DeFi hacks is growing over time: In 2022, $3.8 billion was stolen, with $1.7 billion in crypto taken by North Korean hackers alone. 

Much of that money was taken by the North Korean Lazarus Group, which is suspected to have executed the $100 million Harmony bridge hack in June. 

Some of the most lucrative targets for crypto hacks have been blockchain bridges – where cryptocurrencies backing their tokenized variants circulating on other blockchains are stored.

 In October, Binance Smart Chain (BSC) was paused by validators after a hacker minted 2 Million BNB (worth $600 million at the time) out of thin air by exploiting the blockchain bridge. Much of the BNB was quickly whisked away to other chains in the aftermath. 

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- Andrew Throuvalas
Craig Wright’s Case Against Bitcoin Developers Headed to Full Trial

Tulip Trading – a Seychelles-based company founded by Craig Wright – has successfully brought its case against multiple Bitcoin developers to trial in the United Kingdom. 

Wright’s firm alleges that these developers owe “fiduciary duties,” or “duties of care” to police and control the Bitcoin network. 

The Duties of Bitcoin Developers

The ruling, handed down on February 3, marks a successful appeal from Tulip to the U.K. Court of Appeals to overturn a decision previously dismissed in March 2022. 

Initially, a judge had ruled against Tulip on the merit of its claim, arguing that “there was no realistic prospect of establishing that the facts pleaded amount to a breach

of fiduciary or tortious duty owed by the defendants to Tulip.” Among the 16 named defendants were Bitcoin Core’s former lead maintainer Wladimir Jasper van der Laan, “Bitcoin Jesus” Roger Ver, and the Bitcoin Association for BSV.

When the court overturned the ruling on Friday, it determined that Tulip’s claims present a “serious issue to be tried,” rather than a “fanciful prospect of success.” A full trial is now expected early next year in London. 

As listed in the court documents, Tulip had four main grounds for appealing their case. These included the facts that the case applied to a developing area of the law, and that the judge was wrong to assume Tulip had no real prospect of proving its claims. 

According to Lord Justices Popplewell, Lewison, and Birss, the duty, in this case, can only be decided “once the facts are established,” and deeming Tulip’s case inarguable would require assuming certain facts in favor of the developers “which are disputed and which cannot be resolved this way.”

“If the decentralized governance of bitcoin really is a myth, then in my judgment there is much to be said for the submission that bitcoin developers, while acting as developers, owe fiduciary duties to the true owners of that property,” they concluded. 

Who is Craig Wright?

Craig Wright styles himself as Bitcoin’s pseudonymous creator Satoshi Nakamoto and has launched numerous lawsuits against those who deride him as a liar for making those claims. 

He lost one such lawsuit to the popular Twiter Bitcoiner Hodlonaut in October when a Norwegian judge declared the latter to have sufficient grounds to call Wright a “fraud” and  “scammer.” After the ruling, famous whistleblower Edward Snowden also called out Wright for being a liar. 

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- Mandy Williams
Logan Paul Faces Class Action Lawsuit Over Alleged CryptoZoo NFT Rug Pull

American media personality, professional wrestler, and actor Logan Paul is one of the defendants in a class action lawsuit filed against failed non-fungible token (NFT) project CryptoZoo.

The class action, filed by police officer Don Holland on behalf of 20,000 other victims, alleges that Paul and other defendants executed a rug pull after manipulating the price of CryptoZoo’s native token (ZOO).

Logan Paul Sued for Defrauding CryptoZoo Investors

According to the document, the complaint was filed in the United States District Court for the Western District of Texas on Thursday. Other defendants mentioned include Danielle Strobel, Jeffrey Levin, Jake Greenbaum, known as Crypto King, Eduardo Ibanez, and Ophir Bentov, known as Ben Roth.

The complaint comes shortly after famous internet journalist Stephen Findeisen, known as Coffeezilla, claimed the CryptoZoo project was fraudulent in a three-part series on YouTube.

CryptoZoo was launched in 2021 as an NFT gaming project, with Paul as one of its founders. The project was promoted using Paul’s online platforms as a means of passive income. Investors committed over $2 million to CryptoZoo before its launch, and the ZOO token skyrocketed in value.

Over a year later, no games have materialized, and the project’s social media accounts have been inactive. Coffeezilla accused Paul of stealing millions from investors and abandoning the project afterward.

As reported earlier, Paul accused Coffeezilla of spreading misinformation and threatened to sue him for defamation. However, in a surprising turn of events, Paul later apologized and promised to fix things.

But victims of the failed project have taken legal action against the WWE star and his CryptoZoo partners, accusing them of executing a rug pull and failing to deliver on their promises.

“The Defendants promoted CryptoZoo’s products using Mr. Paul’s online platforms to consumers unfamiliar with digital currency products, leading to tens of thousands of people purchasing said products. Unbeknownst to the customers, the game did not work or never existed, and the Defendants manipulated the digital currency market for Zoo Tokens to their advantage,” the filing stated.

A Disgorgement Request

The defendants were charged with eight counts, including fraud, unjust enrichment, and breach of contract.

The class action seeks redress from them and disgorgement of any profit gained from the project.

“Due to these unconscionable practices, Defendants should disgorge any revenue, profits, or any other gains from their scheme to Plaintiff,” the filing added.

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- George Georgiev
Optimism (OP) Skyrockets to New ATH, Gains Over 40% Weekly

Optimism continues to perform. The cryptocurrency just painted a fresh all-time high which, at this point, happens almost daily.

This brings its total gains for the week to around 43%.

Optimism continues to be one of the best performers within the cryptocurrency market, and its native token – OP – managed to increase by 43% in the past seven days. Its monthly gains are even more impressive, clocking in at around 230% for the past 30 days. At the time of this writing, OP trades at around $3.22 (on Binance), charting a fresh all-time high. OPUSDT_2023-02-03_18-02-45Source: TradingView

 

The impressive price performance comes on the back of a considerable increase in the total value locked in the protocol, which is currently sitting at a 3-month high. The last time the TVL was so high was back in November 2022. It’s also worth noting that OP is amongst the leaders in derivatives trading volume, and its tumultuous price action has led to about $3.5 million worth of liquidated positions in the past day alone. As CryptoPotato reported yesterday, the Optimism Foundation released a proposal regarding upgrading the mainnet to provide a “new level of modularity, simplicity, and Ethereum equivalence for Layer-2 solutions, providing unprecedented performance and functionality.” The upgrade would also reduce transaction costs, and increase throughput characteristics and sync speeds.

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- George Georgiev
Bitcoin Taps 5-Month Highs, Fed Hikes Rates as Expected, Optimism (OP) Leads DeFi Rally: This Week’s Recap

The past seven days saw the total cryptocurrency market capitalization increase by around $35 billion, and the industry continues to recover from the multitude of bankruptcies in 2022.

Some argue that the pace of the recovery is slowing down and that this might be the cause for another bearish reversal. Others are making a bullish case because they expect the US Federal Reserve to pivot in its monetary policy and to slow down in increasing interest rates. This is supported by this week’s FOMC meeting when the Fed hiked the rates with 25 basis points – exactly as many expected. This had a positive impact on the markets as a whole.

Bitcoin soared to a high above $24,000 for the first time since August 2022, while the rest of the market also rallied. There’s been a correction since, and at the time of this writing, BTC trades at around $23,500, charting an increase of 2.7% for the week.

That said, the increase in BTC’s dominance has been slowing down for the past couple of weeks, indicating that altcoins are starting to catch up. Some of the coins with larger capitalization, such as Fantom (FTM), are up 30% on the weekly. ATOM is up 15%, while Avalanche is up 17.4%.

The field of decentralized finance is also on the rise, with Ethereum layer-two scaling solution Optimism leading the charge. Its native cryptocurrency – OP – is up a whopping 45% in the past seven days alone, bringing its total gains to more than 230% for the month.

All in all, the predominant market sentiment has also improved tremendously in January. Presently, it stands at “greed” after being trapped in the “fear” and “extreme fear” zone for multiple months. It’s interesting to see whether the positive trend will continue in the following days.

Market Data

Market Cap: $1128B | 24H Vol: 133B | BTC Dominance: 40.4%

BTC: $23,636 (+2.7%) | ETH: $1,666 (+4%) | BNB: $332 (+9%)

federal_reserve_bitcoin_cover

MetaMask Unveils New Privacy Features for Crypto Wallets. One of the leading self-custodial cryptocurrency wallets, MetaMask, unveiled several privacy features. This came as a response to the increased criticism the company has been receiving in the past weeks.

Meta Lost $13.7B on Metaverse Initiative in 2022. Tech giant and social media mogul Meta (formerly: Facebook) lost a whopping $13.7 billion on its Metaverse initiative in 2022. Other tech giants also missed their earnings for the last quarter of 2022.

Optimism’s OP Token Clinches Record High Nearing $3 After New Bedrock Proposal. Optimism’s OP has been one of the best performers of the past week, recording an increase of around 40% in the past seven days alone. The cryptocurrency is up around 230% for the past month.

$110 Million Stolen From DeFi Protocols BonqDAO and AllianceBlock. This week wasn’t without its fair share of bad news as another group of DeFi protocols – BonqDAO and AllianceBlock were hacked for a considerable $110 million.

The UK to Enforce ‘Robust’ Standards in the Crypto Industry After FTX Crash. The United Kingdom is set to implement “robust, transparent, and fair standards” for the cryptocurrency industry in the country. The push for stringent regulations comes as a response to the FTX scandal.

How Bitcoin Reacted to January’s Highly Anticipated FOMC Meeting. The US Federal Reserve has hiked interest rates by 25 basis points. This was in line with the expectations and, as a consequence, markets rallied. Bitcoin followed suit and broke above $24K for the first time in five months.

Charts

This week we have a chart analysis of Ethereum, Ripple, Cardano, Polygon, and Fantom – click here for the complete price analysis.

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- Duo Nine
Crypto Price Analysis Feb-3: ETH, XRP, ADA, MATIC, and FTM

This week, we take a closer look at Ethereum, Ripple, Cardano, Polygon, and Fantom.

cryptopost_friday_030223

Ethereum (ETH)

Ethereum, the second-largest cryptocurrency, continued to consolidate this week. The price only registered a 2.9% increase. This is because ETH is stuck in a channel between $1,670 and $1,550. 

All attempts to break these levels were rejected in the past two weeks. While some altcoins were booking double digits gains (see Fantom below), Ethereum appears to be on a pause. This could also be because money is rotating between different altcoins. 

Looking ahead, ETH will eventually break away from this range, and that will set the tone for where the price will go next. The current bias is neutral, and the indicators also give mixed signals.

ETHUSD_2023-02-03_14-37-09Chart by TradingView Ripple (XRP)

Ripple has lost its bullish momentum and could not push higher in the past week. For this reason, the price is at a similar point as seven days ago. Nevertheless, XRP bulls defended the support at 40 cents and could attempt another rally later.

The resistance is at 44 cents, and with the weekend approaching (characterized by lower volume), it is unlikely that this level will be tested. At best, XRP could continue to consolidate above the key support. 

Looking ahead, it’s more likely for the cryptocurrency to continue moving sideways. If the overall market remains bullish, then we could eventually see XRP attempt another rally toward 44 cents.

XRPUSDT_2023-02-03_14-39-15Chart by TradingView Cardano (ADA)

Cardano managed to slowly move higher this past week and booked a 5.8% price increase. Buyers claimed the 39 cents level as support, but this remains fragile to any possible selloff. Should they hold here, the next key resistance levels will be found at 42 and 44 cents. 

A big concern for ADA holders is the fact that the daily indicators, such as RSI and MACD, have both been flagging a bearish divergence as the price moved higher. This shows the bullish momentum is becoming weaker, and bears could return at any point. 

Looking ahead, this cryptocurrency had a great performance since the start of the year, and a near-term pullback is not out of the question. If this happens to be the case, the next levels of support under 39 cents will be found at $0.36 and $0.34.

ADAUSDT_2023-02-03_14-38-20Chart by TradingView

Polygon (MATIC)

Polygon had another excellent week, increasing by 8%. The price almost reached $1.3, which is currently acting as a critical resistance. The support is at $1, and so long MATIC holds above this level, the bias will remain bullish.

However, buyers need to be cautious because this last push has created a bearish divergence on the RSI and MACD indicators. If the volume declines, then a retest of the key support will become more likely. 

The last time MATIC broke above $1, buyers failed to hold the price above this key psychological level. Failure to do so would likely result in a further decrease.

MATICUSDT_2023-02-03_14-41-06Chart by TradingView

Fantom (FTM)

Fantom is this week’s top performer, booking a 27% increase. This impressive recovery comes on the back of a resurgence for DeFI tokens. Since the start of the year, FTM managed to quickly triple in price, moving from 20 cents to 60 cents. 

The current support is found at 50 cents, and if bulls maintain the pressure, then FTM has a good chance to continue its current rally toward 70 cents, where sellers may return (key resistance).

Looking ahead, the price action indicates Fantom has likely found a bottom. With a clear higher high, the price has put a firm end to the bearish downtrend and is building a great foundation for a higher valuation in the weeks to come. 

FTMUSDT_2023-02-03_14-42-16Chart by TradingView

The post Crypto Price Analysis Feb-3: ETH, XRP, ADA, MATIC, and FTM appeared first on CryptoPotato.

- Jordan Lyanchev
US Regulators Launch Official Probe Into Silvergate-FTX Dealings

Silvergate, one of many creditors to take huge losses due to FTX going under, was previously forced to lay off 40% of its staff.

This hit to its business was compounded by billions of dollars in substantial loans taken out to cover a potential bank run the organization feared might occur after FTX’s collapse.

Silvergate in The Hot Seat

Although multibillion-dollar loans may seem par for the course of typical banks, the current taken out by Silvergate allegedly amounts to most of its current cash reserves.

“Your bank “now holds roughly $4.6 billion in cash,” the vast majority – $4.3 billion – of which it secured as an advance from the FHLB. By using the FHLB as its functional “lender of last resort,” Silvergate has further introduced crypto market risk into the traditional banking system.”

The bank’s balance sheet is also looking worse for wear, having faced a loss of $1 billion over the past quarter – and a 20% drop in share price in extended trading hours on Thursday.

No Official Accusations As of Yet

Although the current probe into the FTX Group’s dealings with Silvergate is, this time, made in an official capacity, no accusations have been levelled yet, according to Bloomberg.

Instead, the current investigation, which is being coordinated by the US DOJ, aims to uncover how much Silvergate’s management actually knew about FTX’s business dealings. Especially if they suspected financial misconduct was being carried out via Silvergate-held bank accounts, which would have obligated the bank to report the exchange to the authorities.

If it turns out that Silvergate’s evasive answers are merely a matter of typical bank secrecy, the investigation will likely conclude, albeit with more information on FTX’s banking strategies.

For now, Silvergate has confirmed that it performed due diligence for every entity in the FTX Group that it had ties to, starting with Alameda Research’s onboarding in 2018. It’s also worth mentioning that, aside from internal audits, Silvergate – which reportedly had a reputation for being very compliant with authorities – was audited annually by both the Federal Reserve and independent auditors.

However, these audits may not have been stringent enough. Aside from the DOJ investigation, Silvergate is also facing a potential class-action lawsuit from other investors, who reportedly accused the bank of obfuscating their financial controls and audits.

The post US Regulators Launch Official Probe Into Silvergate-FTX Dealings appeared first on CryptoPotato.

- Jordan Lyanchev
Binance Gives Deadline for WazirX to Withdraw Client Assets Stored in its Wallets

The world’s leading crypto exchange has given an ultimatum to the operator of WazirX to withdraw all customer funds stored on Binance’s infrastructure and wallets.

This comes as Zanmai has supposedly refused to retract a previous “false public statement” against Binance.

The spat between the two crypto trading platforms began last year when the Indian government went after WazirX, raided offices belonging to Zanmai (the exchange’s operator), and froze over $8 million in assets. Binance, which had previously invested in the Indian company, refused to have any other affiliation with it, even though there were reports that it actually owns at least a portion. Earlier today, the CZ-led crypto giant issued another statement, urging Zanmai to “work out arrangements with us to withdraw any remaining assets in the relevant accounts after 3 February.” This is because Binance believes WazirX’s operator had made numerous “false public statements” in the past related to the former’s “alleged role in and responsibility for operating” the latter.

“On 26 January 2023, we offered Zanmai a choice between retracting the false public statements (and continuing to use our services) or terminating the use of our wallet service. Since Zanmai has refused to clarify their misleading statements, Zanmai has till 3 February 2023 (23:59 UTC) to remove the funds from the accounts that they used for WazirX’s operations.”

Binance said it only provides wallet services and general infrastructure to WazirX – a practice the exchange has with “numerous other firms that use our technology and infrastructure to independently run their businesses.”

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- Cake DeFi
MONEY OR YOUR LIFE: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence
MONEY OR YOUR LIFE: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence

In September 1992, authors Vicki Robin and Joe Dominguez published a book titled “Money or Your Life” which, essentially, combines all the lessons that they’ve learned from their respective journeys to financial independence.

Little did they know that those same lessons would inspire an entire generation and spark a movement that continues to live on to this day: the Financial Independence, Retire Early (F.I.R.E) movement.

What valuable lessons did the authors learn? How does one again F.I.R.E?

In this article, we summarize the key ideas shared by the authors, as well as the steps they've provided to gaining F.I.R.E.

STEP 1: MAKE PEACE WITH YOUR FINANCIAL PAST

According to the authors, the first to step to gaining F.I.R.E. is to make peace with your financial past by visualizing your earnings and calculating your net worth. By doing so, you also transform your relationship with money.

What does it mean and how does one actually do it?

The authors explained that, if you’re like most people, you probably have no idea how much money you’ve spent in your lifetime. So, in order to have control over your finances, it is essential for you to get a clear picture of your financial history by calculating the money that’s entered your life. After computing your life earnings, the next step is to determine how much money you have left in this lifetime or your net worth.

STEP 2: CALCULATE YOUR REAL HOURLY WAGE AND TRACK YOUR MONEY

Time is our most precious resource. When you leave for work in the morning, you’re giving more than just your time in exchange for a paycheck - you’re giving your life energy. Similarly, when you spend money, you’re essentially trading your life energy.

MONEY OR YOUR LIFE: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence

So, how do you reserve your life energy for the things you truly care about? The authors said that you need to get in touch with your present situation by calculating your real hourly wage and tracking your money - which is the second step to gaining F.I.R.E.

STEP 3: CATEGORIZE YOUR MONTHLY SPENDING

After gathering data, it’s now time for you to understand how you actually spend your money and make much needed changes. You can do this by simply categorizing your monthly spending or grouping your expenses in ways that make the most sense to you.

STEP 4: EVALUATE THE MONEY SPENT IN YOUR CATEGORIES

In this step, you must evaluate your spending by asking three questions about the total money spent in each of the categories that you've created in the previous step:

Did I receive fulfillment, satisfaction and value in proportion to the life energy spent?Is this expenditure of life energy in alignment with my values and life purpose?How might this expenditure change if I didn’t have to work for money?MONEY OR YOUR LIFE: 9 Steps to Transforming Your Relationship with Money and Achieving Financial IndependenceSTEP 5: MAKE A WALL CHART TO TRACK YOUR PROGRESS

To guarantee continued progress toward your goal of gaining F.I.R.E., you’ll need to ensure that your newly created system becomes a habit. To achieve this, you must set up a graph of your income and your expenses. The graph should be simple to maintain and can preferably accommodate 3 to 5 years of data.

STEP 6: CONSCIOUSLY LOWER OR ELIMINATE YOUR EXPENSES

Now that you have a better understanding of your finances, it's time to make some practical changes. Step 6 of the program suggests reducing your monthly expenditure in order to manage your funds more effectively.

Some of the money-saving tips given by the authors include:

Stop Trying to Impress Other PeopleLive Within Your MeansTake Care of What You HaveSTEP 7: VALUE YOUR LIFE ENERGY BY INCREASING YOUR INCOME

Step 7 is about increasing your income by valuing the life energy you invest in your job and exchanging it for the highest pay consistent with your health and integrity.

In order to achieve this, the authors suggest reflecting and truthfully answering the following questions:

How could you double your income without selling your soul or compromising your health?What was your first job? Best job? Worst job?What would be your dream job (whether or not you were paid for it)?What is work and why do we do it?What is your life’s work?What do you like (and dislike) about the work you do for money?STEP 8: EARN INCOME FROM YOUR INVESTMENTS TO ACHIEVE FINANCIAL INDEPENDENCE

Proponents of the F.I.R.E. movement abide by one simple truth or wisdom: if you properly invest your savings, your money will eventually start earning enough on its own for you to retire and focus on what you truly care about.

In addition, they believe that early retirement is not exclusive for the rich and affluent. You just have to accrue enough monthly investment income - which is what Step 8 is all about.

STEP 9: RESEARCH AND CHOOSE YOUR INVESTMENT OPTIONS

Step 9 focuses on gaining investment knowledgeable and skills. According to the authors, the key is to acquire income-producing investments that can provide a consistent income sufficient for your needs over the long term.

The authors also provided information on asset classes and emphasized the importance of diversification and understanding your risk tolerance,

And that’s it! According to the authors, just follow these steps and you’re on your way to gaining F.I.R.E.

MONEY OR YOUR LIFE: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence


Do you want to know how the F.I.R.E. movement aligns with crypto investing? Click here to read an article that we’ve published on our blog section.

You can also gain Financial Independence and Retire Early with Cake DeFi. How? Click here and earn up to US$1,000 worth of rewards on your crypto asset.

So, what are you waiting for? Light up your F.I.R.E and take control of your financial destiny.

- Cake DeFi
Retire in Style with DCA: How to Use Dollar-Cost Averaging as Your Secret Weapon for a Diversified Portfolio
Retire in Style with DCA: How to Use Dollar-Cost Averaging as Your Secret Weapon for a Diversified Portfolio

Are you planning for your retirement and looking for the best way to grow your savings over the long term? Dollar cost averaging (DCA) is a strategy that involves investing a fixed amount of money at regular intervals, rather than trying to time the market by investing a lump sum all at once. This approach can be particularly useful for retirement planning, as it can help you build a diversified portfolio and minimize the impact of market volatility on your savings. In this article, we'll take a closer look at how DCA can be used effectively for retirement planning, and how platforms like Cake DeFi can make it easier to implement this strategy through cryptocurrency investments.

What is dollar cost averaging (DCA)?

Dollar cost averaging (DCA) is a simple yet powerful investment strategy that involves investing a fixed amount of money at regular intervals, regardless of the market conditions. Investing $100 every month, for example, via a cryptocurrency platform like Cake DeFi will enable you not only to diversify your assets but also to reduce risk. How? Simply by spreading your investments out over time, you can potentially reduce the impact of market fluctuations on your portfolio.

Retire in Style with DCA: How to Use Dollar-Cost Averaging as Your Secret Weapon for a Diversified Portfolio

The idea behind DCA is to take the emotion out of investing. It can be tempting to try to time the market by pouring all your money into an investment when the market takes a downturn, or by selling off everything when the market is performing well. But this approach can be risky, as it's difficult to predict with certainty what the market will do next. With DCA, you're able to invest consistently regardless of what's happening in the market, which can help you avoid making rash decisions based on fear or greed.

What are the benefits of dollar cost averaging (DCA)

First, it allows investors to lower the average cost of their investments by buying more “shares” or coins when prices are low and fewer “shares” or coins when prices are high. This can result in a lower overall cost for the investor.

Additionally, dollar cost averaging reinforces the practice of investing regularly, which is essential for building wealth over the long term. By committing to a regular investment schedule, investors can take advantage of market fluctuations and accumulate more shares over time.

Another benefit of dollar cost averaging is that it removes the need for market timing. This can take the concerns of when to invest out of the hands of investors and prevent them from potentially damaging their portfolio's returns by trying to time the market.

Furthermore, dollar cost averaging ensures that investors are already in the market and ready to buy when events send prices higher. This can help investors take advantage of market opportunities and potentially improve their returns.

Finally, by removing the emotional aspect of investing, dollar cost averaging can prevent investors from making impulsive decisions that may negatively impact their portfolio's returns.

Retire in Style with DCA: How to Use Dollar-Cost Averaging as Your Secret Weapon for a Diversified PortfolioHow DCA can help you build a diversified portfolio and minimize the impact of market volatility

One of the key benefits of using DCA for retirement planning is that it can help you build a diversified portfolio over time. Diversification is the practice of investing in a range of different asset classes, such as stocks, bonds, real estate, and alternative investments like cryptocurrency, in order to spread risk and potentially earn higher returns. A diversified portfolio is typically less volatile than one that's heavily concentrated in a single asset, which can make it more suitable for long-term goals like retirement.

By investing a fixed amount of money at regular intervals with DCA, you can gradually accumulate a variety of different investments, rather than trying to pick the perfect moment to invest a lump sum. This can help you achieve a more balanced portfolio and potentially earn higher returns over the long term.

Another advantage of using DCA for retirement planning is that it can help you smooth out the effects of market volatility on your savings. When you invest a lump sum all at once, your portfolio is more vulnerable to short-term fluctuations in the market. A large investment in the stock market right before a major downturn, for example, can result in significant losses that could take years to recover from.

Retire in Style with DCA: How to Use Dollar-Cost Averaging as Your Secret Weapon for a Diversified Portfolio

With DCA, you're investing smaller amounts of money at regular intervals, which can help you avoid the potential pitfalls of lump-sum investing. If the market drops, you'll be buying more shares at the lower price and if the market rises, you'll buy fewer shares at higher prices. Over time, this can potentially result in a more stable portfolio with fewer ups and downs.

A real-life example of the effectiveness of DCA for retirement planning

While past performance is no guarantee of future results, there are many examples of investors who have successfully used DCA to grow their retirement savings over the long term. Consider the following real-life example, where we'll be comparing the results of a Bitcoin savings plan and a DeFiChain ($DFI) savings plan over a 26-month period. For simplicity, the calculations were based on purchasing shares on the 15th of each month with an identical amount in dollars, respectively Euro. Daily closing rates from Bittrex were used to evaluate the results, with 0.25% incidental purchase costs taken into account.

The results of the Bitcoin savings plan showed that after 26 months and a total deposit of 2600 dollars, respectively Euro, the balance was worth 1481.10 dollars or 1646.63 Euro. Despite the weakening Euro, the results showed a 43.04% loss for the dollar savings plan and a 36.67% loss for the Euro savings plan.

However, when it came to the DeFiChain savings plan, the results were even more disappointing, with losses of 56.77% and 51.62% for the dollar and Euro savings plans, respectively. This may lead some investors to question whether Bitcoin is a safer option in a bear market.

But there's more to the story. DeFiChain offers a "proof-of-stake" concept, which allows investors to participate in staking. By assuming a decline of the rewards of one percentage point per month due to the emission reduction, the results of the savings plan were far more encouraging. Taking into account staking, the temporary losses for the dollar savings plan were only 36.57%,respectively only 27.88% for the euro savings plan as of 21 November 2022.

In conclusion, the results of the savings plan comparison between DeFiChain ($DFI) and Bitcoin ($BTC) shows the potential benefits of dollar cost averaging and how an investment in DeFiChain outperformed other options during the bear market. While the losses were significant, with the addition of staking, the temporary losses were reduced to around 36.57% for the dollar savings plan and 27.88% for the euro savings plan. Given the recent increase in the price of DeFiChain, investors who have bought more coins in the previous weeks and months would have even better results, further highlighting the potential benefits of dollar cost averaging and the potential of DeFiChain as an investment option.

Tips for incorporating DCA into your retirement planning strategy

If you're interested in using DCA for your retirement planning, here are a few tips to help you get started:

Determine your investment goals and risk tolerance: Before you start investing, it's important to have a clear understanding of your long-term financial goals and how much risk you're comfortable taking on. This will help you determine the appropriate asset allocation for your portfolio and how much money you should be investing on a regular basis.Choose a platform that makes it easy to implement DCA: There are many platforms available that make it easy to invest in a variety of different asset classes using the DCA approach. For example, Cake DeFi allows you to invest in a range of different digital assets from cryptocurrencies to dTokens like dTSLA or dGOOGL.Be consistent and disciplined: One of the key benefits of DCA is the ability to invest consistently over time, regardless of what's happening in the market. It's important to stick to your investment plan and not get swayed by short-term market fluctuations.Retire in Style with DCA: How to Use Dollar-Cost Averaging as Your Secret Weapon for a Diversified PortfolioConclusion

Dollar cost averaging is a simple yet powerful investment strategy that can be particularly useful for retirement planning. By investing a fixed amount of money at regular intervals, you can potentially build a diversified portfolio and minimize the impact of market volatility on your savings. While there are no guarantees in the world of investing, the historical data suggests that DCA can be a valuable tool for growing your wealth over the long term. With the help of platforms like Cake DeFi, it's easier than ever to implement this strategy with your cryptocurrency investments.

- Cake DeFi
A Look at Polygon (MATIC): Why Layer 2 Blockchains are the Future
A Look at Polygon (MATIC): Why Layer 2 Blockchains are the Future

A layer 2 blockchain is a blockchain built on top of an existing blockchain (referred to as the layer 1 blockchain such as bitcoin, Ethereum or DeFiChain). It is designed to improve scalability and speed by offloading some of the processing from the layer 1 blockchain to the layer 2 blockchain.

One example of a layer 2 blockchain is Polygon, which is built on top of the Ethereum blockchain. Polygon allows for faster and cheaper transactions, which makes it attractive for use cases such as decentralized finance (DeFi) and gaming.

Like the internet and credit cards in the past, layer 2 blockchains have faced initial resistance due to a lack of understanding or skepticism about their usefulness. However, as more people learn about the benefits of layer 2 blockchains and start using them, it's likely that they will become an even more integral part of the blockchain ecosystem.

What are the benefits of layer 2 blockchains?

One of the main benefits of layer 2 blockchains is the improved scalability. The more people use a blockchain, the more congested it becomes, leading to slower transaction speeds and higher fees. This can be a major barrier to adoption, as it limits the types of applications and use cases that can be built on the blockchain.

Layer 2 blockchains address this issue by offloading some of the processing from the layer 1 blockchain to the layer 2 blockchain, thereby increasing the number of transactions that can be processed in a given time frame. A layer 2 is a separate blockchain that extends the mainnet while inheriting the security guarantees of its mother chain. This makes it possible to build more complex and widely-used applications on the blockchain, which in turn drives adoption and brings us closer to the vision of a decentralized web3.

A Look at Polygon (MATIC): Why Layer 2 Blockchains are the Future

In addition to improved scalability, layer 2 blockchains also offer lower fees. Because they are able to process more transactions at a lower cost, users can save money on transaction fees when using a layer 2 blockchain. This is especially important for applications that require numerous microtransactions, such as DeFi projects or online marketplaces.

Despite the benefits of layer 2 blockchains, some people are concerned about the security of these systems. It's important to note that layer 2 blockchains are built on top of layer 1 blockchains, which means that they inherit the security of the underlying blockchain. Furthermore, layer 2 blockchains often use additional security measures to protect against attacks and ensure the integrity of the system.

A Look at Polygon (MATIC): Why Layer 2 Blockchains are the Future

One of the most exciting aspects of layer 2 blockchains is the potential to expand the use cases for blockchain technology. By increasing scalability and reducing fees, layer 2 blockchains make it possible to build a wider range of applications on the blockchain, such as prediction markets, decentralized exchanges, and even video games. This opens up a whole new world of possibilities for decentralized applications and could lead to the creation of entirely new industries.

What is Polygon?

Polygon, also known as MATIC, is a layer 2 blockchain for Ethereum that aims to improve the scalability of the Ethereum mainnet by using different scaling technologies. It functions as an "internet of blockchains" that connects Ethereum-compatible blockchains and uses a modular "security-as-a-service" approach that can leverage Ethereum's existing security or use its own pool of professional validators. This allows for more transactions to be processed on the network, ultimately leading to faster, cheaper, and more efficient transactions.

One of the ways Polygon is working to improve scalability on Ethereum is through its different scaling solutions. These include:

A Look at Polygon (MATIC): Why Layer 2 Blockchains are the FuturePolygon PoS: Its Commit Chain, a Proof-of-Stake EVM-compatible sidechain is already live. This solution allows for faster and more efficient transactions by using a Proof-of-Stake mechanism to validate them, instead of the more energy-intensive Proof-of-Work mechanism used by Ethereum.Polygon Miden: A zero-knowledge rollup based on STARK. This allows for increased privacy on the network by using zk-SNARKs to validate transactions without revealing their details.Polygon Hermez: An open-source zk-rollup. This is similar to Polygon Miden, but is designed to be more accessible and user-friendly.Polygon Avail: A standalone chain focused on data availability. This solution allows for more storage on the Ethereum network, allowing more data to be stored on-chain.Polygon Zero: Another zk-rollup chain that aims to improve privacy on the network.Polygon Nightfall: A privacy-focused rollup chain that uses zero-knowledge proofs to keep transactions private.

All of these solutions aim to provide various ways to scale Ethereum and improve the performance and capabilities of the network. They also bring about a lot of benefits for users such as lower transaction cost, faster and more efficient transactions and more privacy for the users. With Polygon, Ethereum can become a more versatile, accessible and efficient blockchain, which can attract a lot more users and use cases that were earlier not possible on the network.

What is Polygon trying to build and what problem(s) are they solving?

To address the scalability issue, Polygon also introduced a new solution called zero knowledge Ethereum Virtual Machines (zkEVM), which is designed to significantly reduce layer 1 Ethereum network costs by roughly 90% while vastly increasing throughput capacity and inheriting the Ethereum blockchain's security.

One of the key benefits of zkEVM is that it works seamlessly with all existing smart contracts, developer tools, and wallets, thanks to the use of advanced cryptography called zero-knowledge proofs. This makes it perfectly suited for developing enterprise applications, innovative gaming technologies, and non-fungible tokens (NFTs).

In addition to its scalability benefits, zkEVM is also expected to launch on Ethereum sometime in early 2023 and has recently been open sourced to the public for review. It's worth noting that while the code is publicly available to view, it cannot be used, modified, or shared as it was not published under an open-source code license.

A Look at Polygon (MATIC): Why Layer 2 Blockchains are the Future

There are several projects and solutions that are contenders for building an EVM-equivalent zkEVM, each with its own core technology, benefits, and limitations. Polygon's zkEVM is an exciting development in the world of blockchain technology and has the potential to significantly improve scalability and reduce costs for Ethereum users. As more people learn about the capabilities of zkEVM, it's likely that we will see it become an increasingly important part of the blockchain landscape.

What is a zkEVM, and how does it work?

The Ethereum Virtual Machine (EVM) is the execution environment for running smart contracts on the Ethereum blockchain, but it's not natively equipped to handle zero-knowledge proofs, which are a key aspect of privacy-preserving technologies. zkEVM addresses this problem by providing a zero-knowledge-compatible and verifiable virtual machine that guarantees the correctness of programs, operations, and inputs and outputs.

One of the main advantages of zkEVM over the traditional EVM is that it allows dApps to scale while maintaining privacy and security. Zero-knowledge proofs provide a way to prove that a statement is true without revealing any additional information, which allows for private and secure transactions. The use of zk-proofs in zkEVM also enables a more efficient use of resources, making it possible to process more transactions per second.

zkEVM is not only a refactoring of the EVM, but also a refactoring of the entire state transition of the Ethereum network using zero-knowledge proof techniques. This can be a challenging task, as the original design of the EVM did not anticipate the need for zkEVM, but Polygon's team have managed to overcome this challenge by developing a solution that is backwards-compatible and optimized for privacy-preserving technologies.

In conclusion, Polygon's zkEVM is a powerful solution for scaling and privacy for dApps on Ethereum. The use of zero-knowledge proofs in the EVM allows for a more efficient use of resources and enables private and secure transactions. This holy grail of scaling on Ethereum is being able to do more transactions, at lower cost and with more privacy, making it possible to process more transactions per second without sacrificing security. The future is promising for zkEVM and the Ethereum ecosystem as a whole.

For individuals who hold MATIC, Cake DeFi presents a viable option for earning Staking rewards while benefiting from the platform's transparency and trustworthiness. For those looking to capitalize on the growth potential of Polygon, Cake DeFi's MATIC staking product is a compelling option to consider.

A Look at Polygon (MATIC): Why Layer 2 Blockchains are the Future
- Cake DeFi
Introducing On-chain Governance: The Implications for Cake DeFi Users
Introducing On-chain Governance: The Implications for Cake DeFi Users

Get ready to have a say in the future of DeFiChain with the introduction of on-chain governance on Cake DeFi. Starting now, all customers with DFI staked in the Freezer will be eligible to vote on DeFiChain Improvement Proposals (DFIPs), not just those with 20k DFI or more. Learn how the new voting process works, the impact on your voting power, and the rewards you can earn for participating in this game-changing move towards decentralized decision-making.

How does the voting process work, and who is eligible?

The voting process for on-chain governance on DeFiChain has been designed to be as simple and straightforward as possible for all eligible customers. There are two rounds of voting, each with their own unique features and requirements.

Introducing On-chain Governance: The Implications for Cake DeFi UsersSpecial voting round

The first voting round is a special DFIP voting round, which starts on 26 January at 14:00 SGT and ends on 30 January at 18:00 SGT. The proposal to vote for is about reintroducing a part of the burnt DUSD as negative interest rate to increase the utility of DFI. More information about the proposal can be found on the DeFiChain Subreddit. This vote will be held outside of the normal voting cycle and users will have to cast their vote via an online form; the link to this form can be found on the Freezer page. All customers that have DFI staked in the Freezer are eligible to vote in this round. The voting closes 48 hours after the start of the voting round.

Taking part in the voting process takes just a minute. Simply visit the Freezer page and click the link to the Google form. In this form, all you have to provide is your email address, staked DFI, and voting preference.

0:00/1×Normal voting round

The second voting round is the normal voting round, which starts on 9 February and ends on 23 February. Unlike with the special voting round, users can directly cast their vote in the app. This will also be the standard for future voting rounds. To be eligible to vote in this round, customers must have at least 60 days remaining in their staked DFI Freezer allocation at the point of the start of the voting round. The voting closes 7 days before the end of a voting round.

Introducing On-chain Governance: The Implications for Cake DeFi UsersHow can you earn rewards for casting your vote?

Participating in the on-chain governance voting process on DeFiChain not only allows customers to have a say in the future direction of the blockchain, but also provides an opportunity to earn rewards. These rewards come in the form of DFI, the native token of DeFiChain, and are paid out to voters from fees that are contributed by proposers.

Voters will be rewarded with DFI from fees that proposers submit when submitting a proposal. 50% of those fees go to voters. The fees are as follows:

For special DFIPs: 5,000 DFIFor DFIP: 50 DFI per proposalFor CFP: either 1% of requested amount or 10 DFI (whichever is larger)

The eligibility criteria for rewards in the special DFIP voting round is simple: anyone who voted is eligible. However, for the normal voting round, customers must vote on all proposals in each round (voting form or whatever format will be sent to eligible voters) to be eligible for rewards.

It's important to keep in mind that these rewards are set by DeFiChain and are earned by voters who fulfill the eligibility criteria outlined in the previous chapter. Additionally, customers are encouraged to check the DeFiChain website and social media channels for the most up-to-date information.

- Cake DeFi
Earn Up To 5% APY On Cake DeFi's Newly Introduced Polygon (MATIC)
Earn Up To 5% APY On Cake DeFi's Newly Introduced Polygon (MATIC)

Want to start 2023 with a bang? Allocate your Polygon (MATIC) on our newly introduced MATIC Staking service and start earning staking rewards on your favorite crypto for up to 5% APY.

That’s right! MATIC Staking is the latest addition to our continuously growing list of amazing DeFi services that allows you take control of your financial destiny.

What’s so amazing about MATIC Staking?

Similar to our other staking services, MATIC staking is easy-to-use and allows you to earn competitive staking rewards at competitive rates (up to 5% APY).

What makes MATIC Staking so easy-to-use?

It’s no secret: staking your crypto directly into DeFiChain requires a certain level of expertise and knowledge, and may also require you to own and be able to run nodes. With MATIC Staking, you don't have to worry about any of those. All you need to do is to deposit ERC-20 MATIC tokens on the Ethereum network (not Polygon) and you're all set - it's really that simple!

What’s more, you can stake just a small amount of crypto using MATIC Staking - which is something that you, normally, won’t be able to do if you stake directly into DeFiChain.

What are the other advantages of using MATIC Staking?

APY - is net of all fees and it auto-compounds so users get the best APY. There is no need to re-stake manually.Stake and Unstake Anytime - there’s no lock-up period. You may easily stake and unstake crypto at your convenience.Receive Rewards 2x a Day - staking rewards are paid out every 12 hours.Gain Full Transparency On Your Rewards - rewards can be tracked on-chain via a staking address. To get the link to the MATIC Staking address, you may visit our transparency page.Benefit from Other Transparency & Security Protocols - as a Singapore-based fintech company, we continuously find innovative ways to provide security and transparency to our users. For more information, you may click here to read about Proof-Of-Reserves and Liabilities or here to read about relevant platform features and protocols.   Earn Up To 5% APY On Cake DeFi's Newly Introduced Polygon (MATIC)


How do I start using MATIC Staking?

1. If you haven’t registered yet, click here to create a Cake DeFi account.

2. Upon successful completion of the KYC process, click here to go to our Staking page and choose MATIC. Similarly, if you’re using the Cake DeFi mobile app, simply go to the “Bake” section, choose Staking and then select MATIC.

Earn Up To 5% APY On Cake DeFi's Newly Introduced Polygon (MATIC)

3. After clicking “STAKE”, enter your desired amount. If you wish to deposit more MATIC into your account, simply click “DEPOSIT MORE”.  

You must acknowledge the disclaimer to proceed.

Earn Up To 5% APY On Cake DeFi's Newly Introduced Polygon (MATIC)

4. When depositing funds, you must ensure that you’re depositing into the Ethereum network and that you’re sending MATIC. Sending to the wrong address or other types of cryptocurrency may result in irreversible loss of funds.  

Earn Up To 5% APY On Cake DeFi's Newly Introduced Polygon (MATIC)

Earn Up To 5% APY On Cake DeFi's Newly Introduced Polygon (MATIC)

5. To auto-stake your rewards, enable Auto-compound.

Earn Up To 5% APY On Cake DeFi's Newly Introduced Polygon (MATIC)

And that’s it. Very simple, right? If you want to use our MATIC service but haven’t registered yet, click here to create a Cake DeFi account.

Earn Up To 5% APY On Cake DeFi's Newly Introduced Polygon (MATIC)

Also, to further generate wealth on your crypto, we invite you to participate in our F.I.R.E. (Financial Independence and Retire Early) campaign. By simply allocating assets into our Staking or Liquidity Mining services, new users can receive up to US$1,000 worth of rewards in DFI.

So, what are you waitng for? Sign up, stake your MATIC and participate in our F.I.R.E. campaign to gain full control of your financial destiny!

- Cake DeFi
Gain Financial Independence and Retire Early (F.I.R.E.)  with Cake DeFi
Gain Financial Independence and Retire Early (F.I.R.E.)  with Cake DeFi

Are you looking for a viable way to gain financial independence and save up for an early retirement? Look no further. With our newly launched F.I.R.E. (Financial Independence and Retire Early) promo, you can get started as early as today.

1. How does the promo work?

By simply signing up and creating a Cake DeFi account, new users can start allocating their preferred crypto assets into our Staking or Liquidity Mining services, and Freeze them for at least 6 months to receive up to US$1,000 worth of bonus in DFI.

2. When does the promo start?

The promo period is from 16 January 2023 to 06 Feb 2023.

3. How much should I allocate and how much are the bonuses?

There are four brackets that you can choose from. Each bracket are assigned with their respective F.I.R.E bonuses, as shown below:

Gain Financial Independence and Retire Early (F.I.R.E.)  with Cake DeFi


All in all, the concept is simple: the more you allocate, the more F.I.R.E. bonus you receive.

4. When will I receive my F.I.R.E. bonus?

You will receive your F.I.R.E bonus immediately after successful allocation of crypto assets, and be able to unfreeze them after 1 month. That said, note that the bonus amount is calculated based on the user’s first allocation into the Freezer product. Bonuses do not stack.

5. How do I get started?

a. SIGN UP for a Cake DeFi account and successfully complete the KYC process before 06 February 2023

b. GO TO to our Staking page or Liquidity Mining page, and freeze your preferred crypto assets for at least 6 months before the end of the promotion (06 February 2023). Remember, the amount of crypto to be allocated should be based on the F.I.R.E bonus categories mentioned in item #3.

c. RECEIVE your F.I.R.E. bonus immediately after successful allocation of crypto assets. Once again, you'll be able to unfreeze them after 1 month. Also, remember that the bonus amount is calculated based on the user’s first allocation into the Freezer product. Bonuses do not stack.

And that’s it! You’re all set to gain Financial Independence and Retire Early.

Gain Financial Independence and Retire Early (F.I.R.E.)  with Cake DeFi

If you’re interested to know more about the F.I.R.E. movement and how it relates to crypto investing, you may click here to read an article that we’ve published on our blog section.  

So, what are you waiting for? Light up your F.I.R.E and take control of your financial destiny.



- Cake DeFi
What is the F.I.R.E. movement and why crypto can be a perfect fit
What is the F.I.R.E. movement and why crypto can be a perfect fit

Retiring early is a dream for many people, and for good reason. Imagine being able to leave the 9-5 grind behind and pursue your passions and interests full-time, or travel the world and see new sights. The idea of retiring early is incredibly appealing, and it's no wonder that the F.I.R.E. (Financial Independence, Retire Early) movement has gained such popularity in recent years.

But achieving financial independence and retiring early can be attainable. It simply requires careful planning along with disciplined saving and investing to achieve long-term financial security. Let's examine what this movement is all about and how crypto can make it even more lucrative.

What is Financial Independence, Retire Early (F.I.R.E.)?

Financial Independence, Retire Early (F.I.R.E.) is a movement that promotes the idea of saving and investing a significant portion of your income in order to achieve financial independence and the ability to retire at an early age. The goal of the FIRE movement is to build a diversified portfolio of assets that will provide a reliable stream of income to support your lifestyle, allowing you to retire from traditional employment and live off of your investments.

"Your Money or Your Life," a best-selling book published in 1992 by Vicki Robin and Joe Dominguez, introduced many of the ideas embraced by individuals who follow the F.I.R.E. movement. While the exact origin of the term and acronym "F.I.R.E." is unclear, the term embodies the central premise of the book: that individuals should consider the number of working hours required to pay for every expenditure.

What is the F.I.R.E. movement and why crypto can be a perfect fitIt is a financial approach characterized by thriftiness and saving a high percentage of one's income through investments.By saving and investing up to 70% of their annual income, proponents of the F.I.R.E. movement aim to retire at an early age and live off of small withdrawals from their accumulated funds.To cover living expenses in retirement, F.I.R.E. followers typically withdraw 3% to 4% of their savings each year.Achieving a F.I.R.E. retirement requires careful planning, economic discipline, and smart investment choices.What is the purpose of FIRE?

The purpose of the Financial Independence, Retire Early (F.I.R.E.) movement is to help people achieve financial independence and the ability to retire at an early age. The goal of the F.I.R.E. movement is to build a diversified portfolio of assets that will provide a reliable stream of income to support your lifestyle, allowing you to retire from traditional employment and live off of your investments.

In recent years, the Financial Independence, Retire Early (F.I.R.E.) movement has gained popularity, particularly among millennials. This approach involves saving and investing a significant portion of your income in order to retire at an early age and live off of your investments. To achieve this, proponents of the F.I.R.E. movement save up to 70% of their annual income for several years, aiming to build a savings of approximately $1 million, or 30 times their yearly expenses.

By retiring early and living off of their investments, proponents of the F.I.R.E. movement aim to achieve greater control over their financial future and more freedom and flexibility in their lives. After retiring, F.I.R.E. followers make small withdrawals from their savings, typically around 3% to 4% of the balance each year, to cover their living expenses. F.I.R.E. requires careful planning and monitoring of expenses, but once you have lit it up, it's easy to maintain.

What is the F.I.R.E. movement and why crypto can be a perfect fit

Within the FIRE movement, there are several variations that reflect different lifestyles and approaches.

"Fat F.I.R.E." is for those who want to save more than the average worker but maintain their current standard of living, which generally requires a high salary and aggressive savings and investment strategies."Lean F.I.R.E." involves a minimalist lifestyle and extreme savings, requiring a very restricted lifestyle and living on $25,000 or less per year."Barista F.I.R.E." is for those who want to retire from their traditional 9-to-5 jobs but still work part-time and use a combination of work and savings to live a less-than-minimalist lifestyle, while still obtaining health coverage and avoiding dipping into their retirement funds."Coast F.I.R.E." (also known as "Coast FI") focuses on aggressively contributing to retirement savings early in order to reach a certain portfolio value, and then allowing interest to help grow the balance until retirement. Some practitioners of this approach may supplement their income with a side job in order to more quickly reach their contribution goals. Unlike the traditional F.I.R.E. movement, which aims to retire early, the goal of Coast F.I.R.E. is financial independence rather than early retirement.Why crypto is the perfect fit to light up your F.I.R.E.

Some diehard F.I.R.E. investors claim that cryptocurrencies should not be considered a viable investment since they are highly volatile and have a lack of underlying value. Cryptocurrencies have indeed experienced significant price swings in the past, and their value can be influenced by a range of factors, including market demand, regulatory changes, and investor sentiment. This volatility can make them risky investments, but it is also this inherent risk that makes them a veritable component in any F.I.R.E. portfolio.

What is the F.I.R.E. movement and why crypto can be a perfect fit

Generally speaking, there are a few potential reasons why a cryptocurrency investment could be considered for inclusion in a Financial Independence, Retire Early (F.I.R.E.) movement portfolio:

Diversification: Including cryptocurrencies in a portfolio can help to diversify the portfolio and potentially reduce overall risk. By owning a range of different assets, an investor can potentially minimize the impact of any one asset performing poorly on the overall portfolio.Potential for growth: Cryptocurrencies have the potential to provide strong returns in the long term. While they have experienced significant price volatility in the past, some experts believe that they could potentially become more widely adopted and increase in value over time.Inflation protection: Cryptocurrencies are not subject to the same economic and political factors that can affect traditional fiat currencies, and their supply is limited. This could make them potentially appealing as a hedge against inflation and currency devaluation.What is the F.I.R.E. movement and why crypto can be a perfect fit

There are also a number of studies that have analyzed the potential benefits of including bitcoin in an investment portfolio. Some of these studies have found that bitcoin can have a positive impact on portfolio diversification and risk-return profile.

One study published in the Journal of Asset Management in 2017 analyzed the performance of a hypothetical portfolio that included bitcoin along with traditional assets such as stocks and bonds. The study found that adding bitcoin to the portfolio resulted in an improvement in the Sharpe ratio, a measure of risk-adjusted returns, and also reduced the portfolio's overall volatility.

Another study published in the Journal of International Financial Markets, Institutions and Money in 2018 found that bitcoin can improve the diversification of a portfolio and potentially increase returns. The study analyzed the performance of portfolios that included various combinations of bitcoin, stocks, and bonds, and found that portfolios with a small allocation to bitcoin generally had higher returns and lower volatility compared to portfolios without bitcoin.

It's important to note that these studies are based on historical data and do not necessarily provide a guarantee of future performance. As with any investment, it's important to carefully consider your own financial goals and risk tolerance before deciding whether to include bitcoin in your portfolio.

Where to start your crypto investment journey

The F.I.R.E. (Financial Independence, Retire Early) community knows that finding the right investment opportunities is crucial for reaching financial goals. Cake DeFi, a CeDiFi platform, offers a way for investors to grow their wealth and achieve financial independence.

One of the standout features of Cake DeFi is its cash flow-generating products, which pay out rewards twice a day. This means that you can see a steady stream of returns on your investment, which can help you reach your financial goals faster.

Additionally, Cake DeFi offers compounding returns, which allow your wealth to grow exponentially over time. Compounding is often referred to as the "holy grail" of investing, and for good reason. By reinvesting your returns automatically with Cake DeFi, you can take advantage of this powerful feature and watch your wealth grow even faster.

On top of that, Cake DeFi is user-friendly and uses advanced security measures to protect your funds, making it an ideal choice for those new to cryptocurrency. Start earning passive income with Cake DeFi today!

What is the F.I.R.E. movement and why crypto can be a perfect fit
- Cake DeFi
CAKE DEFI YEAR 2022 IN REVIEW: A Quick Look at Our Breakthroughs & Product Launches
CAKE DEFI YEAR 2022 IN REVIEW: A Quick Look at Our Breakthroughs & Product Launches

Indeed, for many crypto companies, 2022 was a major turning point. Having witnessed several big industry players collapse and kickstart the still ongoing crypto winter, many have understandably chosen to downsize or completely shut down their operations.

Always seeing the glass half full, we at Cake DeFi chose to do the exact opposite.

Why? As we always encourage our users to “take control of their financial destiny,” we also want to show that we are fully in control of ours. That we are driven by our passion to serve our customers, not just by market conditions.

So, as the year comes to a close, we invite you to have a quick look at what our dedication has managed to accomplish for our users and what we are committed to pursue in 2023 and beyond.

Read on and happy holidays!  

Q1 HIGHLIGHTS
CAKE DEFI YEAR 2022 IN REVIEW: A Quick Look at Our Breakthroughs & Product LaunchesLAUNCH OF CAKE DEFI VENTURES - Cake DeFi Ventures, our US$100 million venture arm, was launched on 09 March 2022. It is committed to accelerating growth of tech firms, with a focus on investing in Web3, gaming and fintech startups.
PRODUCT HIGHLIGHTS - during the first quarter, we greatly enhanced the onboarding experience for our users by integrating Sumsub, MyInfo and single sign-on (SSO) log in. We also added and improved on our “Learn More” product explainers. Q2 HIGHLIGHTS
CAKE DEFI YEAR 2022 IN REVIEW: A Quick Look at Our Breakthroughs & Product LaunchesCAKE DEFI’s 3RD ANNIVERSARY CELEBRATION - this year’s anniversary celebration was particularly memorable as it marked the launch of Birthday Research, our research and development arm which focuses on developing blockchain and digital-asset solutions, and several other exciting initiatives.
US$317 MILLION WORTH OF REWARDS PAID OUT TO CUSTOMERS - coinciding with our 3rd year anniversary is the announcement of yet another company milestone in the $317 million worth of rewards that we have paid out to our users through the first quarter of 2022.
EU REGISTRATION - we finally obtained our first-ever registration to operate in the EU and EEA region, and are registered with the Registrar of Legal Entities and Financial Crime Investigation Services of Lithuania since June 2022. This registration enables us to provide virtual currency exchange and wallet services in Lithuania.
LAUNCH OF THE “BORROW” SERVICE - Borrow was added on the Cake DeFi mobile app based on two general objectives: 1) Provide a better option for those who are just HODLing their digital assets and 2) Offer another avenue for Cake DeFi users to “make their cryptos work for them.
SUCCESSFUL COMPLETION OF AUDIT BY CURE53 - in line with our commitment to security and transparency, we successfully completed a security assessment conducted by top IT security consultancy firm Cure53 and received positive remarks - particularly on our UI, backend API, and underlying servers.
WE JOINED COINBASE TRUST -  in October 2022, we were admitted to Coinbase's Travel Rule Universal Solution Technology (TRUST) coalition - which is a global, industry-driven solution designed to comply with a requirement known as the Travel Rule while protecting the security and privacy of customers.
TRANSPARENCY PAGE WENT LIVE - in line with our commitment to providing transparency and safeguarding user assets,  we created a transparency page that users can access to view all of our transparency features, protocols and reports.

This initiative was carried out at a time when very few industry players were providing such information and despite not being mandated to do so.Q3 HIGHLIGHTS
CAKE DEFI YEAR 2022 IN REVIEW: A Quick Look at Our Breakthroughs & Product LaunchesEARN” WAS LAUNCHED - EARN, our single-sided liquidity mining service, was launched in Q2. It allows users to participate in liquidity mining with just one type of cryptocurrency and offers more stability and security as it mitigates volatility loss risk and counterparty risk.
CAKE DEFI AND RAZER SILVER COLLABORATION - adding more excitement into our list of activities for Q3 was our partnership with Razer Silver, part of a  highly popular lifestyle brand for gaming and Esports communities.
NEW LIQUIDITY MINING POOLS - beginning 4 August 2022, users of Cake DeFi’s Liquidity Mining service will be able  to allocate funds into our first-ever DUSD stablecoin paired liquidity mining pools: USDT-DUSD and USDC-DUSD.Q4 HIGHLIGHTS
CAKE DEFI YEAR 2022 IN REVIEW: A Quick Look at Our Breakthroughs & Product LaunchesBRAND REFRESH - Our brand refresh reflects our evolution, growth and maturity as a company — from a new kid on the block, to now a leader in transparency and innovation in DeFi and Web3. A brand new look and experience and a swanking new logo to boot. It's the same cakedefi.com that you trust and enjoy using, but with more intuitive designs and features. Check it out!  
LAUNCH OF CAKE DEFI ENTERPRISE - another proud moment for us was the announcement of the launch of our B2B vertical, Cake DeFi Enterprise (CDE), during this year’s Singapore FinTech Festival. Our goal for CDE? To make DeFi products and services easy for institutions to use and also in a transparent and secure manner.
LAUNCH OF ETH STAKING SERVICE - with our ETH Staking service, ETH holders can stake and generate rewards on their ETH tokens, and also exit our Staking service using csETH.
PROOF OF RESERVES - at Cake DeFi, we always strive to find innovative ways of providing transparency and safeguarding user assets. In line with this commitment, users can now verify their Proof-Of-Reserves and check our Proof-Of-Liabilities.
IMPROVEMENTS IN OUR “LENDING” SERVICE - users of our Lending service can now enjoy receiving rewards in just 7 days and other exciting benefits. To know more, you can click here. WHAT USERS CAN EXPECT FROM US IN 2023 & BEYOND

During a recent Twitter Space broadcast, both our CEO and Co-Founder Julian Hosp and Head of Community Fabio Andreatta shared their thoughts on what Cake DeFi as an organization should double down and further improve on in 2023.

“Cake has been built on the principles of transparency since its inception,” Fabio said. “Back then, I guess, we were two years too early for that. Nobody thought that this was important in 2020. But, now, everybody thinks that this is important.  

“I think that we’re doing a great job with our Proof-Of-Reserves, transparency page, financial reports and everything surrounding that. We just need to continue doing that and provide the transparency that customers deserve,” he added.

As for Julian he said that “We’re definitely going to double down on further improving our referral program. People really love it. It works for us. It works for our users.”

“Also, one thing that we’re definitely going to do in 2023 is to revamp the entire user experience. We’ll make it super clean and super easy for our users. I think that’s really important,” he continued.

Finally, Julian shared that Cake DeFi as an organization will “be even more determined and scrappy. It’s almost like day zero again. Everything’s up for grabs now. The few crypto remaining companies will be fighting to get a piece of the pie. So, yes. Expect us to be scrappy again.”

With that, we wish each and everyone of you happy holidays and an amazing 2023. We sincerely thank you for choosing us as your preferred DeFi platform and look forward to your continued support.

At the same time, expect us to continue working hard to provide you with the best DeFi services for helping you take control of your financial destiny.

If you want to use our services but haven’t registered yet, click here to create an account.

CAKE DEFI YEAR 2022 IN REVIEW: A Quick Look at Our Breakthroughs & Product Launches


Once again, thank you and have an amazing new year!

- Cake DeFi
Merkle Tree Proof of Reserves and Liabilities: Raising the Bar for Enhanced Transparency
Merkle Tree Proof of Reserves and Liabilities: Raising the Bar for Enhanced Transparency

The recent FTX turmoil has prompted cryptocurrency companies to release cryptographic proofs of their custodial funds to combat skepticism about their cash management. These proofs allow anyone to verify that the funds held on-chain are sufficient to cover the exchange's liabilities to its users. This is done by using a method called Merkle Tree Proof of Reserves.

What are Proof of Reserves and Proof of Liabilities?

Unlike full nodes, centralized exchanges (CEXs) do not provide unequivocal proof of funds. In most of these cases, cryptocurrencies are simply sent into a black box, leaving users with little choice but to cross their fingers and trust that their money isn't being misused.

To combat this, CEXs are increasingly creating cryptographic proofs to demonstrate that their on-chain funds are sufficient to cover their users' liabilities, rather than solely relying on government-issued licenses and audits. This attempt to provide public transparency to centralized cryptocurrency reserves through a verifiable auditing practice is called Proof of Reserves.

Proof of Reserves is a means of demonstrating that platforms or exchanges are capable of honoring withdrawals on their platforms at all times. In general, it consists of two parts: a current record of customers' coin deposits (known as Proof of Liabilities), and the pool of coins held within a set of exchange addresses (also known as Proof of Assets). If Proof of Assets > Proof of Liabilities, then the exchange is solvent and can always honor withdrawal requests (Proof of Reserves).

Timeline of the Proof of Liability concept

The first attempts to cryptographically prove that exchanges are not cheating their customers date back to 2011, when the then-largest exchange Mt Gox proved that they indeed owned all their customers’ funds by sending BTC to a pre-announced address.

In 2013, a new concept of proof emerged, where exchanges proved that customers' deposits equaled X and also proved ownership of the private keys of X coins. This is called Proof of Solvency, which requires exchanges to prove that they hold enough funds to pay back all its depositors.

The simplest way to prove deposits is to publish a list of (username, balance) pairs. The list allows everyone to verify that their balances appear in the list, as well as to verify that (i) no balance is negative, and (ii) the total matches the claim.

This approach has the disadvantage of raising privacy concerns, although this can be overcome by publishing a list of (hash(username, salt), balance) pairs, and sending the salt value privately to each user. However, there is still a possibility of account balance leaks using this method. The desire to preserve privacy led to the next invention: the Merkle tree Proof of Liabilities.

What is a Merkle tree?

A Merkle tree is a data structure that is created by combining the customer balance and the username hash into a tree structure where each node represents a (hash, balance) pair. Leaf nodes at the bottom of the tree represent individual customer balances and the hashed username. Nodes higher up in the hierarchy have a balance equal to the sum of the two balances below, and the hash is the hash of the two nodes below.

Merkle Tree Proof of Reserves and Liabilities: Raising the Bar for Enhanced TransparencyCf. https://vitalik.ca/general/2022/11/19/proof_of_solvency.html

All transactions in a Merkle tree are related and grouped together to obtain a root hash or "root address" (yellow box). This root hash is related to all the other hashes of the tree. The Merkle tree Proof of Liability saves a great deal of time since it is not necessary to verify every transaction in a network. Instead, this method relies only on a subset of data to verify funds, which is why it’s considered the industry gold standard for user fund verification.

How does it work? Based on the Merkle tree above, let's assume that Charlie wants to verify his funds. For this purpose, he does not need to know all Merkle tree entries, just the ones highlighted in blue. As long as Charlie receives the hashed information from David, as well as the hashes of the other two blue blocks, he will be able to verify that his funds indeed are on the exchange –– without the need of any other information.

It is also worth noting that if a hash in a Merkle tree is changed, all the others will also change (root hash). As a result, the authenticity of the information for the entire tree will be invalidated. This feature allows Merkel trees to provide the high level of safety they are known for.

A very important proposition is the non-negativity allowance for leaves. If a malicious node with a negative balance were added to the tree, then the neighboring nodes and all nodes above would fail the proof verification. Such a malicious attack can only succeed if no one on the entire side of the tree where the malicious node is checks and verifies their balances.

What are the advantages of a Merkle tree?

There are several advantages to using a Merkle tree. One of the key advantages is that it provides a high level of transparency and assurance to users. By providing a Proof of Liabilities, a platformis demonstrating that it has the assets that it claims to have, which helps to build trust with users and ensure the solvency of the platform.

Another advantage is that it is efficient and secure. The use of a Merkle tree allows for efficient verification of the entire list of assets, without requiring the disclosure of the full list. This protects the privacy of the exchange and its users, while still allowing for the verification of the exchange's reserves.

Merkle Tree Proof of Reserves and Liabilities: Raising the Bar for Enhanced Transparency

Moreover, the accuracy of the whole tree can be verified without examining each node individually. Hence, Merkle proof of liabilities can be viewed as crowdsourced proofs of user-conducted checks.

In addition, Merkle proofs are resistant to tampering. Since the hashes in the tree are linked together in a specific order, any attempt to alter the list of assets would result in a different hash being produced. This makes it difficult for an attacker to alter the proof of reserves without being detected.

Overall, a Merkle tree Proof of Liabilities is a useful tool for cryptocurrency exchanges to demonstrate the solvency and transparency of their operations. By providing Proof of Liabilities, an exchange or custodian can build trust with its users and ensure the security of their funds.

Step-by-step guide: How to verify your funds on Cake DeFi

At Cake DeFi, transparency and security aren't just duties, they're a necessity, and we live them every day. Our platform has led the way in disclosing the amount of coins we hold in our addresses (Proof of Assets) since we launched in 2019, back when nobody else was doing it. Whether you are a customer or not, you can easily access the information around Proof of Assets on our transparency page.

But now we want to take it a step further and provide a tool so that everyone can easily check the other side of the equation as well – Merkle tree Proof of Liabilities. This is part of our ongoing initiative to give the public the full picture and enable customers to verify that their funds are safely stored with us. Check it out yourself here.

The following steps are required to determine whether your account balance is included in the tree structure of the Merkle tree Proof of Liabilities:

Hash your account balance and your unique ID

This step has been made super easy so that anyone can do it without any knowledge! In order to make your life easier, we have already prepared everything and hashed your balance and unique ID for you. To find your hash ID, log into your account and look at the bottom of the page.

Merkle Tree Proof of Reserves and Liabilities: Raising the Bar for Enhanced TransparencyCheck if that hash has actually been included in the final hash of the general Merkle tree Proof of Liabilities

You can now receive the Merkle tree for your funds by entering the hash ID you copied earlier into the input field on the Proof of Reserves page. As an output, you will receive the following structure:

Merkle Tree Proof of Reserves and Liabilities: Raising the Bar for Enhanced Transparency

This includes two sets of data: The first is the Merkle root, which acts as a cryptographic seal to summarize all the imputed data (current balance of funds held by Cake DeFi), and the second one is the verified leaf that shows a breakdown of your funds.

Independently conduct the Merkle proof

Following our motto "Trust because you can verify", you can also independently perform the Merkle tree Proof of Liabilities check by following these steps:

Step 1: Install the verification tool using the info provided on Github.

Step 2: Copy your personal hash ID

Step 3: Download the Merkle tree file

Step 4:  Execute the following command on your terminal: npm run verify -- -- <paste-the-name-of-your-merkle-tree-file-here> --hash=<paste-your-personal-hash-here>

With the Merkle tree Proof of Liabilities, Cake DeFi has raised the bar for transparency and will continue to set the industry standard for years to come. Log into your account and visit our Proof of Reserves page to check your funds.

If you would like to contribute to this venture and give us your ideas about how we can improve our platform, please contact us via Zendesk or reach out to us via our social media channels.

- Cake DeFi
The 10 Biggest Moments For Crypto in 2022
The 10 Biggest Moments For Crypto in 2022

The crypto space had a wild ride in 2022, with giant players collapsing, markets tumbling, and even non-crypto fanboys taking notice of the dramas that played out. Just a year prior, things seemed to be headed upward with no sign of stopping in sight. The industry even reached an all-time high market cap in November 2021, boosted by renewed interest in digital assets and the rise of NFTs.

But the crypto market had no chance against a tightening economy, and prices were already plummeting. Just two months before the start of 2022, bitcoin, the largest cryptocurrency by market capitalization, peaked at US$ 69,000 and marked a new all-time high. And by the end of January, it was trading nearly 50% below its peak.

On hindsight, the trouble was only just beginning. Read on to get to know the 10 biggest moments for crypto in 2022 from the "Crypto Bowl" to the collapse of FTX.

‘CRYPTO BOWL’

If you follow Twitter or are a football fan, you most likely saw an advertisement for a crypto company at this year's Super Bowl. The 2022 Super Bowl, also known as the "Crypto Bowl", saw a surge in cryptocurrency-related advertisements as four companies – Coinbase, FTX, Crypto.com, and eToro – leveraged the popular event to promote their brands. These companies each aired significant TV commercials during the game, with some ads standing out more than others. For example, FTX collaborated with Larry David in a lighthearted commercial, while Coinbase's bouncing QR code ad went on to win a Grand Prix at the Cannes Film Festival a few months later. The use of the Super Bowl as a marketing platform for crypto companies highlights the growing mainstream acceptance and adoption of cryptocurrency.

UKRAINE STARTS ACCEPTING CRYPTO DONATIONS

Since the invasion of Russia in Ukraine, the country has been facing economic challenges and political instability. In an effort to fund its government operations and rebuild its economy, Ukraine has turned to an unconventional solution: accepting cryptocurrency donations.

This decision was made in recognition of the growing popularity and potential of cryptocurrency as a valid form of payment. By accepting crypto donations, Ukraine is able to tap into a new source of funds and demonstrate its willingness to embrace new technologies. Since Moscow’s invasion, more than 102,000 crypto asset payments worth $54.7 million have been made to the Ukrainian government.

Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT.

BTC - 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P

ETH and USDT (ERC-20) - 0x165CD37b4C644C2921454429E7F9358d18A45e14

— Ukraine / Україна (@Ukraine) February 26, 2022 TERRAUSD IMPLODES

Those hoping for a continuation of the bull market were disappointed by the first of several blow ups that started with TerraUSD (UST). The crypto ecosystem of 2022 suffered a major blow with the downfall of TerraUSD (UST), a stablecoin designed to be pegged to the value of the US dollar. UST was intended to be algorithmically backed by Luna, a separate crypto asset that would offer traders an arbitrage opportunity to maintain the $1 peg.

However, large sell-offs in May 2022 caused Luna to plummet, resulting in a downward spiral that led to the erasure of $45 billion in market cap by the end of the week. The project was effectively dead, with UST trading at less than $0.20 and Luna valued at nearly zero. The impact of this collapse rippled throughout the crypto world, causing further destabilization and uncertainty.

The 10 Biggest Moments For Crypto in 2022

As a company, we were fortunate to not be affected by the LUNA crash at all. While the incident had a significant impact on the crypto space as a whole, our business operations and financial performance remained stable.

3AC, CRYPTO LENDERS TOPPLE

As another domino fell in late June, Three Arrows Capital (3AC), a leading crypto hedge fund, went bankrupt, causing ripple effects throughout the crypto ecosystem. 3AC, which borrowed and invested money across the crypto world, lost hundreds of millions of dollars due to the collapse of TerraUSD, as well as being underwater on various other investments.

As 3AC wound down, it took its partners, who it could no longer pay back, with it. One of these partners was crypto lender Voyager, which filed for bankruptcy in early July. In the midst of plummeting crypto prices following the TerraUSD collapse and 3AC's insolvency, crypto lender Celsius also filed for bankruptcy. BlockFi, another lender, managed to avoid the contagion and secured a $250 million line of credit from exchange FTX to remain afloat.

In times like these, a solid business model that is build on trust and transparency is paramount. Transparency is core to our business and how we operate. As a Singapore-based fintech company, we have to ensure clear asset segregation whereby customers’ assets are kept separate from the company’s operating accounts. Simply put, our users have control and authority over their funds.

NFT MARKET COLLAPSE

Despite most ripple effects having subsided by mid-summer, crypto winter was still raging, with prices of crypto assets consistently falling. Bitcoin (BTC) was down 70% from its all-time high, Ether (ETH) was down 75%, and many "alt-coins" were faring even worse.

The NFT market, which had been performing well at the beginning of the year, was also hit hard by the downturn. Monthly trading volume dropped from over $17 billion in January to $1 billion in June, according to blockchain analytics platform Dune Analytics. Interest in both blue-chip and new NFT collections also declined significantly. The belief that NFTs had become mainstream proved to be false.

The 10 Biggest Moments For Crypto in 2022MASS LAYOFFS

As the crypto winter continued, macroeconomic challenges, such as Russia's war in Ukraine and interest rate hikes by the Federal Reserve, added to the difficulties faced by crypto companies. These companies were among the first to significantly reduce their workforce.

Coinbase, one of the largest and most well-known cryptocurrency exchanges in the world, laid off 1,100 employees, or 18% of its workforce; NFT marketplace OpenSea laid off 20%; exchange Blockchain.com laid off 25%; and many other firms, from lenders to exchanges to startups, made cuts of various sizes throughout the summer.

Crypto.com, previously known for its heavy marketing spending, reduced its headcount by over 2,000 employees, or between 30% and 40% of its workforce, as reported by Ad Age. The cuts, which were far larger than the company publicly announced, were accompanied by a reduction in Crypto.com's marketing partnerships.

In contrast, we at Cake DeFi see this crypto winter as the time to consolidate, recalibrate and build. Our hiring hasn't slowed down this year, and our team size has nearly doubled to more than 160 people since the beginning of the year.

A SUCCESSFUL MERGE

In mid-September, the final stage of "The Merge" update to the Ethereum blockchain was completed, making the network significantly more energy efficient. This update had been in planning for years, and its successful implementation was a relief to many in the cryptocurrency space. Prior to "The Merge," the lack of sustainability was a common criticism of Ethereum. However, the update not only addressed this issue, but also demonstrated the ability of the Ethereum community to come together and make positive changes to the network. In the midst of turmoil in cryptocurrency markets, this was a welcome development.

The 10 Biggest Moments For Crypto in 2022ELON MUSK’S TWITTER TAKEOVER

Elon Musk's takeover of Twitter has been seen as a positive development for the cryptocurrency market, as many believe that his ownership of the social media platform will result in future integrations with crypto technology and a more accepting attitude towards cryptocurrencies. Musk has a significant presence in the crypto ecosystem and has been known to promote the use of cryptocurrencies like Dogecoin. He has also hinted at the possibility of Twitter using crypto technology in the future, potentially through Dogecoin integration and a focus on crypto payments. These developments could have a positive impact on the adoption and use of cryptocurrencies in the future.

FTX IMPLODES

In November, the cryptocurrency industry was shaken by the collapse of FTX, one of its most reputable and mature players. The whole saga began when CoinDesk leaked a balance sheet for Alameda Research, a hedge fund closely tied to FTX and co-founded by its CEO, Sam Bankman-Fried. The balance sheet consisted mainly of FTT, a token created by FTX to give users discounts on its platform. However, the token had poor liquidity, and when Binance was about to dump its large share of FTT, it triggered a run on the token and caused its value to plummet. FTX, which was also a major holder of FTT, announced that Binance would acquire it, but when the deal fell through, no other buyers stepped in and FTX filed for bankruptcy.

Further investigation revealed that Bankman-Fried had used billions in customer deposits, which were supposed to be off-limits to FTX, to make loans to Alameda after it suffered major losses during the summer's market collapses. Other mistakes, such as FTX executives taking loans from Alameda to fund political contributions and Bahamian estates, were also uncovered. The SEC and DOJ launched investigations into FTX, and Bankman-Fried resigned. His replacement, John Ray III, an insolvency expert who oversaw Enron's liquidation, called the situation "a complete failure of corporate controls and such a complete absence of trustworthy financial information." The incident was one of the largest cases of financial fraud in recent history and left the industry reeling.

The collapse of FTX sent shockwaves through the cryptocurrency market and raised concerns about the safety of customer funds at other exchanges. It also highlighted the need for greater regulation and oversight in the industry to prevent similar incidents from occurring in the future. Despite this, the incident also showed the resilience of the cryptocurrency market, as it was able to recover from the shock of FTX's collapse and continue moving forward.

The Definitive Thread on FTX

I met SBF before FTX started, and witnessed their rise and fall. I can't stand @nytimes's puff piece.

If anyone wants to know what happened, send them this.

— Jason Choi (@mrjasonchoi) November 15, 2022 FTX FALLOUT

The fallout from the collapse of FTX also spread to other companies and individuals in the cryptocurrency space. Genesis, a digital currency trading firm, was forced to suspend trading on its platform after its parent company, Digital Currency Group, revealed that it had lost millions of dollars in the FTX collapse. BlockFi, a platform that allows users to earn interest on their cryptocurrency holdings, also faced scrutiny after it was revealed that it had significant exposure to the FTT token.

In addition to these companies, the FTX collapse also had implications for high-profile individuals involved in the cryptocurrency market. Tom Brady, the legendary NFL quarterback, faced criticism for his involvement in the token sale of FTT, and Steph Curry, the NBA star, faced backlash for promoting BlockFi on his social media channels.

Overall, the collapse of FTX was a major event in the cryptocurrency industry and had far-reaching consequences for the market. It highlighted the need for greater regulation and oversight in the space and exposed vulnerabilities in the ecosystem. Despite this, the market was able to recover from the shock of the incident and continue moving forward.

As a company, we were fortunate to not be affected by the FTX turmoil. Despite the significant impact that the incident had on the crypto industry, our business operations remained stable. Thanks to our resilience and preparedness, we were able to successfully navigate the situation and emerge unscathed from the FTX turmoil.

The 10 Biggest Moments For Crypto in 2022
- Cake DeFi
Here’s a New Year Resolution For You: 5 Best Ways to Protect Your Crypto
Here’s a New Year Resolution For You: 5 Best Ways to Protect Your Crypto

In the first 10 months of 2022, cyber criminals stole a staggering amount of 3 billion dollars from crypto wallets and exchanges. This is not only a new negative record, but it also emphasizes the need for more learning regarding the security of crypto assets.

The recent attacks against crypto investors may have left you wondering what you can do to improve your digital security. Is it a good idea to keep crypto on an exchange, and what should you watch out for? Should you save a screenshot of your password in case you forget it? In the following blog post, we will answer all these questions and more. Additionally, we will show you how to avoid falling victim to crypto fraud.

Here’s a New Year Resolution For You: 5 Best Ways to Protect Your CryptoUse a strong password to protect your crypto

One of the most important steps that you can take to protect your cryptocurrency is to use a strong and unique password. A strong password is essential for preventing unauthorized access to your accounts and protecting your assets from hackers and other malicious actors.

A strong password should be at least 8 characters long and include a mix of upper and lowercase letters, numbers, and special characters. Avoid using easily guessable passwords, such as your name, date of birth, or simple patterns, as these can be easily cracked by hackers.

It is also important to use a unique password for each of your accounts. If you use the same password for multiple accounts, a hacker who gains access to one of your accounts can potentially use the same password to gain access to your other accounts.

A password manager can be a useful tool for generating and storing strong, unique passwords. It allows you to create a different, random password for each of your accounts, and stores them securely for you. This can help to prevent you from using the same password for multiple accounts and make it easier to manage your passwords.

💡Pro Tip: You can check the strength of your password using this security tool.Use an authenticator app (2FA)

The first time you buy cryptocurrency, it's usually on an exchange. A hacker who gets access to this account can withdraw your crypto to their own wallet address.The best way to thwart these attacks is to turn on two-factor authentication (2FA) in your exchange app for withdrawals.

An authenticator app is a security tool that allows you to add another layer of protection to your accounts. Authenticator apps generate one-time codes that you can use to verify your identity when logging in to your accounts. This can help to prevent unauthorized access to your accounts, even if your password is compromised.

To use an authenticator app, you will need to install the app on your smartphone or other device. Most authenticator apps are available for free from the App Store or Google Play. Once you have installed the app, you will need to set it up with the accounts that you want to protect.

To set up an authenticator app with an account, you will typically need to follow these steps:

Log in to the account that you want to protect.Go to the account's security settings and look for the option to enable two-factor authentication (2FA).Follow the instructions to set up 2FA with your authenticator app. This may involve scanning a QR code or entering a secret key provided by the account.Once 2FA is enabled, you will be prompted to enter a one-time code from your authenticator app when logging in to the account.

One important thing to keep in mind when using an authenticator app is to keep a backup of your account recovery codes. These codes are provided by the account when you set up 2FA, and they can be used to access your account if you lose access to your authenticator app. Make sure to store your recovery codes in a safe and secure place, such as a password manager or a physical copy in a secure location.

Overall, using an authenticator app is a simple and effective way to add an extra layer of security to your accounts and protect your cryptocurrency from unauthorized access. Be sure to set up 2FA with your authenticator app on all of your accounts that support it, and keep a backup of your recovery codes in case of any issues. If you have lost access to your device and want to reset the code on our platform, follow these steps here.

Here’s a New Year Resolution For You: 5 Best Ways to Protect Your CryptoBack up your seed phrase properly

It is essential to securely back up and store your crypto seed phrase, as it provides you with exclusive access to your wallet and its funds. A crypto seed phrase is a randomly generated set of words used to restore the private key to your wallet in the event of device theft, damage, or loss. Without the seed phrase, you will be unable to access your wallet and its funds.

That's why it is important to make sure you back up and store your crypto seed phrase in a secure place. Ideally, this should be an offline location that cannot be easily accessed by anyone else - such as a safe, safety deposit box, or secure physical storage device like a Ledger. It is also important to make sure that you keep your seed phrase safe and secure at all times. This can be done by encrypting the backup file or simply storing it in a secure location.

In addition, it is also important to make sure your seed phrase is written down on a piece of paper or other medium that cannot be easily destroyed or misplaced. This is to ensure that you are able to recover your wallet if the need arises. By taking the necessary steps to back up and store your crypto seed phrase properly, you can ensure that your cryptocurrency is safe and that you have peace of mind knowing that your assets are protected.

💡Pro Tip: It's important to enter your seed words in the exact order in which they were originally displayed when recovering a cryptocurrency wallet. Make sure not to rearrange the order of the words when writing them down, as this could prevent you from successfully recovering your wallet.Check the URL and avoid fake software / apps

Crypto scams are becoming increasingly sophisticated, and crypto users need to be extra cautious to avoid falling victim by checking the URL of any website before entering any personal or financial information.

Scammers often use imposter websites that look identical to original websites, with the only difference being a single letter in the URL. By closely examining URLs, users can ensure they are accessing a legitimate website rather than a phishing site. It is also important to pay attention to the page’s security indicators, such as an ‘SSL Certificate’, which is an encrypted technology that provides secure communication on the web.

Another tip to avoid falling victim to crypto scams is to perform research on the company or website before engaging in any transactions or activities. It is essential to read reviews, study customer feedback, and do your own due diligence before conducting financial transactions online.

Avoid Public Wi-Fi and use a VPN service

When it comes to cryptocurrency transactions, it's important to be cautious about where you access the internet. While free public Wi-Fi at a coffee shop or restaurant may seem convenient, it's important to be aware that other people nearby may be able to intercept your internet traffic using tools like Wireshark. This means that they can potentially see which websites you are visiting, including cryptocurrency exchanges or other crypto-related sites.

While this doesn't necessarily mean that your crypto is at risk of being stolen, it could attract the attention of scammers, who may be more likely to target you if they see you making high-value crypto transactions or simply browsing crypto sites. To avoid this kind of unwanted attention, it's best to avoid using open public Wi-Fi for crypto transactions.One way to protect yourself when accessing the internet for crypto transactions is to use a virtual private network (VPN) service. A VPN encrypts your internet traffic, making it much more difficult for anyone to intercept and view your online activities. This can provide an extra layer of security for your crypto transactions and help keep you safe from scammers. These services typically cost between $5 and $15 per month, but you may be able to get a lower rate by paying for multiple months or years in advance.

💡Pro Tip: Here is a list of well rated VPN service providers.

If you're someone who feels uncomfortable holding your own keys or keeping up with the latest security measures, Cake DeFi is the perfect solution for you. With its unique security features and cash flow capabilities, you can rest assured knowing that your assets are safe and easily accessible. So why wait? Join the Cake DeFi community today and take control of your financial future!

Here’s a New Year Resolution For You: 5 Best Ways to Protect Your Crypto

- Cake DeFi
WHAT LESSONS CAN WE LEARN FROM FTX'S COLLAPSE? Here’s What Industry Experts Have Said So Far.
WHAT LESSONS CAN WE LEARN FROM FTX'S COLLAPSE? Here’s What Industry Experts Have Said So Far.

Once ranked as the world’s second largest cryptocurrency exchange, FTX fell into a downward spiral after a news article that came out on 02 November 2022 raised concerns over its financial health and that of cryptocurrency trading firm Alameda Research, its sister company.

The article also claimed that a large amount of assets held by Alameda Research consisted of FTX’s native cryptocurrency FTT. A few days later, Changpeng Zhao - the CEO and Co-Founder of FTX’s rival cryptocurrency exchange Binance - announced that his company will sell off its substantial holdings of FTT.

It was the beginning of the end for FTX.

What lessons can we learn from the debacle and what does it mean for the future of crypto? Read on to find out what industry experts and personalities have said about the matter.

REACTIONS FROM INDUSTRY EXPERTS


MICHAEL SAYLOR, MicroStrategy Founder and Executive Chairman: During an interview with Yahoo! Finance, the outspoken bitcoin proponent said that “I think this is going to be really helpful for bitcoin because this is an educational moment and people are realizing the benefits of buying a crypto asset that’s backed by the world’s most powerful computing network and by 10 gigawatts of energy, and the difference between that and the 20,000 other cryptos that are - in essence - backed by nothing, and they’re just like other fiat currencies.


BRIAN ARMSTRONG, Coinbase CEO and Co-Founder: The well-known businessman and investor reacted to a tweet shared by US Senator Elizabeth Warren on the same day that reports came out that federal agencies in the US are investigating FTX.

https://t.co/0HxlRiI6Sy was an offshore exchange not regulated by the SEC.

The problem is that the SEC failed to create regulatory clarity here in the US, so many American investors (and 95% of trading activity) went offshore.

Punishing US companies for this makes no sense.

— Brian Armstrong (@brian_armstrong) November 10, 2022


CHANGPENG ZHAO (CZ), CEO and Co-Founder of Binance: On 11 November 2022, the same day that FTX, FTX.us, Alameda Research and dozens of subsidiaries filed for bankruptcy, CZ shared the tweet below.

FTX aside, avoid businesses/exchanges/projects that:

- are not profitable (musical chairs)
- survive by selling their own tokens
- give high incentives for locking your tokens
- have a large total supply, but only a small circulation supply
- involves loans

Stay #SAFU 🙏

— CZ 🔶 Binance (@cz_binance) November 11, 2022

TOM EMMER, a US Congressman: During an interview with FOX Business, US Congressman and well-known crypto proponent Tom Emmer said that FTX’s collapse is “...not just a failure of FTX, it’s a failure of CeFi…that’s known as Centralized Finance. It is not a failure of crypto. It's a failure of Sam Bankman-Fried, it’s a failure of business ethics and it’s a failure of the government oversight and regulatory procedures.

FTX's collapse is not a crypto failure. It's a failure with CeFi, @GaryGensler, and Sam Bankman-Fried. Decentralization is the point. Watch below for more thoughts 👇 pic.twitter.com/VYacafc0ZD

— Tom Emmer (@RepTomEmmer) November 22, 2022

KEVIN O’LEARY, Entrepreneur and TV Personality: The popular shark investor, who invested in and was a spokesperson for FTX before, may have indirectly shared a lesson on the advantages of using blockchains when he said during an interview with Yahoo! Finance that “One of the remarkable situations about this financial collapse - different to Enron, different to Lehman Brothers, different to Bear Sterns - is that 90 plus percent of these transactions are on chain. They are irrevocable, they cannot be changed, they’re on public record forever…so, by the time this is over - and you asked me what Sam Bankman-Fried did - well, we’ll know. It’ll be totally, totally transparent.”

OUR TAKE
THE IMPORTANCE OF BEING TRANSPARENT

According to our CEO and Co-Founder Julian Hosp, the FTX debacle provides a key lesson on why it’s important for crypto platforms to provide transparency. “Transparency will be the absolute key criteria for how customers will select exchanges. Customers will not trust, unless they can verify themselves,” he said.

A GLIMPSE INTO THE FUTURE OF CEDEFI  & CRYPTO

He also added that the undoing of FTX imparts a valuable lesson on what the future holds for both CeFi and DeFi. “Pure DeFi will be too difficult to use and pure CeFi will be too difficult to trust,” he said.  

“Solid exchanges may be able to increase their stranglehold. However, we will see more and more platforms mixing DeFi and CeFi into CeDeFi, where customers have the same fantastic user experience from CeFi, but the transparency from DeFi. This will be the road forward for crypto,” he added.

LIQUIDITIES FROM MULTIPLE BLOCKCHAINS

Sharing more thoughts on what lies ahead for crypto, he added that “Liquidities in DeFi will not be concentrated on one dominant blockchain, and will spread across multiple blockchains and multiple protocols as evident throughout the history of crypto from the start.”

OUR COMMITMENT TO CAKE DEFI USERS

At Cake DeFi, we continuously find innovative ways to safeguard user funds while remaining very transparent. In line with this effort, we’ve made it easier for users to verify our Proof-of-Reserves and check our liabilities.

Users may also visit our transparency page to view all of our transparency features, protocols and reports, and our status page for real-time information on whether our services are up and running.

On top of our Transparency Page, we at @cakedefi are preparing a proof of funds and will be publishing it later today. 100% of our customer funds are backed. We have zero material exposure to external parties. You can trust, because you can verify -> #CeDeFi

— Dr. Julian Hosp (@julianhosp) November 11, 2022

We also publish quarterly transparency reports and have integrated a rewards dashboard into our mobile app to allow users to check their crypto rewards. For more information on our transparency features and safety protocols, you may click here or here.  

With that, we hope that you’ll continue doing research and remain informed on the various ways to keep you and your funds well-protected. Always ask questions. Do not assume. You may also consider options such as using self-custody wallets, dollar-cost averaging and diversification.

If you want to use our services and enjoy all the benefits that we offer, click here to create an account.

WHAT LESSONS CAN WE LEARN FROM FTX'S COLLAPSE? Here’s What Industry Experts Have Said So Far.

So, sign up and take control of your financial destiny!



- Cake DeFi
How Are Yields Generated? Here’s a Simple Explanation
How Are Yields Generated? Here’s a Simple Explanation

There's no doubt about it, generating yields on your crypto is one of the best things that has ever happened in crypto investing. However, have you ever wondered how yields are generated, or what factors influence yield percentages?

In this article, we take a look at some of the factors that influence or affect yields. We also tell you what the yields displayed on our platform are based on.

So, let’s get started.

WHAT IS A YIELD?

Yield refers to the earnings generated and realized on an investment over a particular period of time, expressed as a percentage.

In traditional finance, a yield percentage is usually based on the invested amount, current market value or face value of the security. A yield also includes interest earned or dividends received from holding a security. Based on the valuation of a security (fixed or fluctuating), yields may be classified as known or anticipated.

How Are Yields Generated? Here’s a Simple Explanation

Last but not least, yields are mostly computed on an annual basis, though there are also quarterly and monthly yields.

YIELDS DISPLAYED ON CAKE DEFI

First and foremost, it is important to note that we don’t set or determine the yields displayed on our platform. Essentially, our platform aggregates various DeFi protocols available on the market and reflects the same yields displayed on their respective sources (less our commission).

DEFICHAIN EMISSION RATES

For DeFi services that are based on the DeFiChain blockchain, the main factor affecting or influencing the yields is the blockchain emission rate.

What is a blockchain emission?

Simply put, emission refers to how quickly new coins are released from the blockchain. As for the case of the DeFiChain blockchain, the emission rate decreases every 10 days by 1.658%. That means, over time, less DFI are paid out as rewards.

How Are Yields Generated? Here’s a Simple Explanation

Since DeFiChain sets how many DFI of the total block rewards are allocated towards Staking, Liquidity Mining, etc., a change in this split requires a Masternode approval. To view the most up-to-date data on the DFI emission and inflation, you may click here.

LIQUIDITY MINING AND STAKING YIELDS

If you're a high-level crypto investor or active user of staking or liquidity mining services, you're probably aware that your crypto yield is heavily influenced by the number of participants using the same platform.

The same is true with the Staking and Liquidity Mining services that we give you access to and which are both based on the DeFiChain blockchain.

Of course, there are other factors that can influence yields - which you can read more about by clicking here. Also, you may click here to know more about our Staking service and here for more information on our Liquidity Mining service.

FINAL THOUGHTS

It is without a doubt crucial for a crypto investor to understand how yields are generated. Why? Because it helps you make informed decisions regarding which service provider to use, how much crypto to allocate, for how long, and what crypto investment strategy to use.

At Cake DeFi, we not only provide information on what the yields we display are based on, but also transparency on other information that are valuable to you as a crypto investor. You may  click here to read more about our transparency features and protocols. Similarly, you may click here to read about how we continue to build and develop our platform based on transparency.

How Are Yields Generated? Here’s a Simple Explanation

If you want to use our services and enjoy all the benefits that we offer, click here to create an account.

So, what are you waiting for? Sign up now and take control of your financial destiny!

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A confirmation email has been sent to . Click on the confirmation link in the email to activate your account.

Resend confirmation email First name Last name Email Password Country of residence Cake DeFi is only available for listed countries Promo or referral code (optional)

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../../utils/serialize-form-value */ \"./assets/js/utils/serialize-form-value.js\");\n\n\n\nvar MIN_PASSWORD_LENGTH = 12;\nvar MAX_PASSWORD_LENGTH = 128;\nvar MIN_NAME_LENGTH = 1;\nvar MAX_NAME_LENGTH = 30;\nfunction isValidPromoCode(value) {\n return new RegExp(/^[A-Z0-9]{6}$/).test(value);\n}\nvar validationMap = {\n firstName: {\n validate: function validate(value) {\n return value.length >= MIN_NAME_LENGTH && value.length = MIN_NAME_LENGTH && value.length = MIN_PASSWORD_LENGTH && value.length <= MAX_PASSWORD_LENGTH;\n },\n errorMsg: \"Password length must be at least 12 characters.\"\n },\n country: {\n validate: function validate(value) {\n return !!value;\n },\n errorMsg: \"Country is required.\"\n }\n};\nfunction initFormValidation() {\n ['firstName', 'lastName', 'email', 'password', 'country'].forEach(function (formField) {\n function onKeyUpValidation() {\n var formValue = (0,_utils_serialize_form_value__WEBPACK_IMPORTED_MODULE_2__.serializeFormValue)(document.getElementById(\"SignUpForm\").elements);\n var fieldValue = formValue[formField];\n var isValid = validationMap[formField].validate(fieldValue);\n var errorMsg = isValid ? '' : validationMap[formField].errorMsg;\n var floatContainer = this.closest(\".float-container\");\n var floatControlContainer = this.closest(\".float-control-container\");\n\n if (errorMsg) {\n floatControlContainer.classList.add(\"error\");\n\n if (!floatContainer.querySelector('label.error')) {\n floatContainer.insertAdjacentHTML('beforeend', \"\".concat(errorMsg, \"\"));\n }\n } else {\n var _floatContainer$query;\n\n floatControlContainer.classList.remove(\"error\");\n (_floatContainer$query = floatContainer.querySelector('label.error')) === null || _floatContainer$query === void 0 ? void 0 : _floatContainer$query.remove();\n }\n\n setSubmitButton();\n }\n\n ['keyup', 'change'].forEach(function (evt) {\n document.querySelector(\"#SignUpForm [name=\\\"\".concat(formField, \"\\\"]\")).addEventListener(evt, onKeyUpValidation);\n });\n });\n}\nfunction setSubmitButton() {\n document.getElementById('RegisterSubmitBtn').disabled = !isFormValid();\n}\nfunction isFormValid() {\n var reCaptchaToken = _term_condition_checkbox__WEBPACK_IMPORTED_MODULE_1__.termAndConditionCheckbox.getToken();\n\n if (!reCaptchaToken) {\n return false;\n }\n\n var formValue = (0,_utils_serialize_form_value__WEBPACK_IMPORTED_MODULE_2__.serializeFormValue)(document.getElementById(\"SignUpForm\").elements);\n var isValid = Object.keys(validationMap).every(function (key) {\n var fieldValue = formValue[key];\n\n if (!validationMap[key]) {\n return true;\n }\n\n return validationMap[key].validate(fieldValue);\n });\n return isValid;\n}\n\n//# sourceURL=webpack://cakedefi.com/./assets/js/components/signup-form/form-validation.js?"); /***/ }), /***/ "./assets/js/components/signup-form/index.js": /*!***************************************************!*\ !*** ./assets/js/components/signup-form/index.js ***! 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@babel/runtime/helpers/asyncToGenerator */ \"./node_modules/@babel/runtime/helpers/esm/asyncToGenerator.js\");\n/* harmony import */ var _babel_runtime_regenerator__WEBPACK_IMPORTED_MODULE_1__ = __webpack_require__(/*! @babel/runtime/regenerator */ \"./node_modules/@babel/runtime/regenerator/index.js\");\n/* harmony import */ var _babel_runtime_regenerator__WEBPACK_IMPORTED_MODULE_1___default = /*#__PURE__*/__webpack_require__.n(_babel_runtime_regenerator__WEBPACK_IMPORTED_MODULE_1__);\n/* harmony import */ var _shared_alert__WEBPACK_IMPORTED_MODULE_2__ = __webpack_require__(/*! ../../shared/alert */ \"./assets/js/shared/alert.js\");\n/* harmony import */ var _api__WEBPACK_IMPORTED_MODULE_3__ = __webpack_require__(/*! ../api */ \"./assets/js/components/api.js\");\n/* harmony import */ var _utils_show_error_message_api__WEBPACK_IMPORTED_MODULE_4__ = __webpack_require__(/*! ../../utils/show-error-message-api */ \"./assets/js/utils/show-error-message-api.js\");\n/* harmony import */ var _shared_spinner__WEBPACK_IMPORTED_MODULE_5__ = __webpack_require__(/*! ../../shared/spinner */ \"./assets/js/shared/spinner.js\");\n\n\n\n\n\n\nfunction handleResendEmailConfirmation() {\n document.getElementById('ConfirmYourEmailForm').addEventListener('submit', /*#__PURE__*/function () {\n var _ref = (0,_babel_runtime_helpers_asyncToGenerator__WEBPACK_IMPORTED_MODULE_0__.default)( /*#__PURE__*/_babel_runtime_regenerator__WEBPACK_IMPORTED_MODULE_1___default().mark(function _callee(e) {\n var email, response;\n return _babel_runtime_regenerator__WEBPACK_IMPORTED_MODULE_1___default().wrap(function _callee$(_context) {\n while (1) {\n switch (_context.prev = _context.next) {\n case 0:\n e.preventDefault();\n email = document.getElementById('ResendConfirmationEmail').getAttribute('email');\n _context.prev = 2;\n (0,_shared_spinner__WEBPACK_IMPORTED_MODULE_5__.showSpinner)();\n document.getElementById('ResendConfirmationEmailBtn').disabled = true;\n _context.next = 7;\n return _api__WEBPACK_IMPORTED_MODULE_3__.api.resendVerify(email);\n\n case 7:\n response = _context.sent;\n (0,_shared_alert__WEBPACK_IMPORTED_MODULE_2__.showSuccessAlert)('Verification email has been sent');\n _context.next = 14;\n break;\n\n case 11:\n _context.prev = 11;\n _context.t0 = _context[\"catch\"](2);\n (0,_utils_show_error_message_api__WEBPACK_IMPORTED_MODULE_4__.showApiError)(_context.t0);\n\n case 14:\n _context.prev = 14;\n document.getElementById('ResendConfirmationEmailBtn').disabled = false;\n (0,_shared_spinner__WEBPACK_IMPORTED_MODULE_5__.hideSpinner)();\n return _context.finish(14);\n\n case 18:\n case \"end\":\n return _context.stop();\n }\n }\n }, _callee, null, [[2, 11, 14, 18]]);\n }));\n\n return function (_x) {\n return _ref.apply(this, arguments);\n };\n }());\n}\n\n//# sourceURL=webpack://cakedefi.com/./assets/js/components/signup-form/resend-email-confirmation.js?"); /***/ }), /***/ "./assets/js/components/signup-form/term-condition-checkbox.js": /*!*********************************************************************!*\ !*** ./assets/js/components/signup-form/term-condition-checkbox.js ***! \*********************************************************************/ /***/ ((__unused_webpack_module, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"termAndConditionCheckbox\": () => (/* binding */ termAndConditionCheckbox)\n/* harmony export */ });\n/* harmony import */ var _form_validation__WEBPACK_IMPORTED_MODULE_0__ = __webpack_require__(/*! ./form-validation */ \"./assets/js/components/signup-form/form-validation.js\");\n\nvar termAndConditionCheckbox = function () {\n var reCaptchaToken;\n\n function init() {\n initReCAPTCHA();\n document.getElementById('TermConditionCheckbox').addEventListener('change', function () {\n if (this.checked) {\n grecaptcha.execute();\n } else {\n reCaptchaToken = null;\n }\n });\n }\n\n function initReCAPTCHA() {\n var verifyCaptcha = function verifyCaptcha(token) {\n reCaptchaToken = token;\n (0,_form_validation__WEBPACK_IMPORTED_MODULE_0__.setSubmitButton)();\n };\n\n window.verifyCaptcha = verifyCaptcha;\n }\n\n ;\n\n function resetCaptcha() {\n reCaptchaToken = null;\n document.getElementById('TermConditionCheckbox').checked = false;\n grecaptcha.reset();\n }\n\n return {\n init: init,\n getToken: function getToken() {\n return reCaptchaToken;\n },\n resetCaptcha: resetCaptcha\n };\n}();\n\n//# sourceURL=webpack://cakedefi.com/./assets/js/components/signup-form/term-condition-checkbox.js?"); /***/ }), /***/ "./assets/js/config/index.js": /*!***********************************!*\ !*** ./assets/js/config/index.js ***! \***********************************/ /***/ ((__unused_webpack_module, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"appConfig\": () => (/* binding */ appConfig)\n/* harmony export */ });\nvar appConfig = {\n API_ENDPOINT: \"https://api.cakedefi.com\",\n RECAPTCHA_KEY: \"6LcDaLAeAAAAADeKbH94tsCMTFAppm-BCHNN1LAp\"\n};\n\n//# sourceURL=webpack://cakedefi.com/./assets/js/config/index.js?"); /***/ }), /***/ "./assets/js/shared/alert.js": /*!***********************************!*\ !*** ./assets/js/shared/alert.js ***! \***********************************/ /***/ ((__unused_webpack_module, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"showAlert\": () => (/* binding */ showAlert),\n/* harmony export */ \"showSuccessAlert\": () => (/* binding */ showSuccessAlert),\n/* harmony export */ \"showErrorAlert\": () => (/* binding */ showErrorAlert)\n/* harmony export */ });\nvar timeoutRef;\nvar TIME_TO_SHOW_ALERT = 5000;\nfunction showAlert(type, message) {\n hideAlert(function () {\n var alert = document.querySelector('.cake-alert');\n alert.classList.add(type);\n alert.textContent = message;\n alert.style.display = 'block';\n });\n\n if (timeoutRef) {\n clearTimeout(timeoutRef);\n }\n\n timeoutRef = setTimeout(function () {\n hideAlert();\n }, TIME_TO_SHOW_ALERT);\n}\nfunction showSuccessAlert(message) {\n showAlert('success', message);\n}\nfunction showErrorAlert(message) {\n showAlert('error', message);\n}\n\nvar hideAlert = function hideAlert(func) {\n var alert = document.querySelector('.cake-alert');\n alert.classList.remove('success');\n alert.classList.remove('error');\n alert.innerHTML = '';\n func && func();\n};\n\n//# sourceURL=webpack://cakedefi.com/./assets/js/shared/alert.js?"); /***/ }), /***/ "./assets/js/shared/params-const.js": /*!******************************************!*\ !*** ./assets/js/shared/params-const.js ***! \******************************************/ /***/ ((__unused_webpack_module, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"PROMO_CODE\": () => (/* binding */ PROMO_CODE),\n/* harmony export */ \"REFERRAL_CODE\": () => (/* binding */ REFERRAL_CODE),\n/* harmony export */ \"UTM_SOURCE\": () => (/* binding */ UTM_SOURCE),\n/* harmony export */ \"UTM_MEDIUM\": () => (/* binding */ UTM_MEDIUM),\n/* harmony export */ \"UTM_CAMPAIGN\": () => (/* binding */ UTM_CAMPAIGN)\n/* harmony export */ });\nvar PROMO_CODE = 'promo';\nvar REFERRAL_CODE = 'ref';\nvar UTM_SOURCE = 'utm_source';\nvar UTM_MEDIUM = 'utm_medium';\nvar UTM_CAMPAIGN = 'utm_campaign';\n\n//# sourceURL=webpack://cakedefi.com/./assets/js/shared/params-const.js?"); /***/ }), /***/ "./assets/js/shared/spinner.js": /*!*************************************!*\ !*** ./assets/js/shared/spinner.js ***! \*************************************/ /***/ ((__unused_webpack_module, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"showSpinner\": () => (/* binding */ showSpinner),\n/* harmony export */ \"hideSpinner\": () => (/* binding */ hideSpinner)\n/* harmony export */ });\nfunction showSpinner() {\n document.querySelector('.global-spinner').style.display = 'block';\n}\nfunction hideSpinner() {\n document.querySelector('.global-spinner').style.display = 'none';\n}\n\n//# sourceURL=webpack://cakedefi.com/./assets/js/shared/spinner.js?"); /***/ }), /***/ "./assets/js/shared/storage.js": /*!*************************************!*\ !*** ./assets/js/shared/storage.js ***! \*************************************/ /***/ ((__unused_webpack_module, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"SessionStorage\": () => (/* binding */ SessionStorage),\n/* harmony export */ \"storage\": () => (/* binding */ storage)\n/* harmony export */ });\n/* harmony import */ var _babel_runtime_helpers_classCallCheck__WEBPACK_IMPORTED_MODULE_0__ = __webpack_require__(/*! @babel/runtime/helpers/classCallCheck */ \"./node_modules/@babel/runtime/helpers/esm/classCallCheck.js\");\n/* harmony import */ var _babel_runtime_helpers_createClass__WEBPACK_IMPORTED_MODULE_1__ = __webpack_require__(/*! @babel/runtime/helpers/createClass */ \"./node_modules/@babel/runtime/helpers/esm/createClass.js\");\n/* harmony import */ var _babel_runtime_helpers_defineProperty__WEBPACK_IMPORTED_MODULE_2__ = __webpack_require__(/*! @babel/runtime/helpers/defineProperty */ \"./node_modules/@babel/runtime/helpers/esm/defineProperty.js\");\n\n\n\nvar SessionStorage = /*#__PURE__*/function () {\n function SessionStorage() {\n (0,_babel_runtime_helpers_classCallCheck__WEBPACK_IMPORTED_MODULE_0__.default)(this, SessionStorage);\n\n (0,_babel_runtime_helpers_defineProperty__WEBPACK_IMPORTED_MODULE_2__.default)(this, \"map\", void 0);\n\n this.map = {};\n }\n\n (0,_babel_runtime_helpers_createClass__WEBPACK_IMPORTED_MODULE_1__.default)(SessionStorage, [{\n key: \"setItem\",\n value: function setItem(key, value) {\n this.map[key] = value;\n }\n }, {\n key: \"getItem\",\n value: function getItem(key) {\n return this.map[key];\n }\n }, {\n key: \"clear\",\n value: function clear() {\n this.map = {};\n }\n }]);\n\n return SessionStorage;\n}();\n\nfunction getStorageImplementation() {\n try {\n return window.sessionStorage;\n } catch (e) {\n return new SessionStorage();\n }\n}\n\nvar storage = getStorageImplementation();\n\n//# sourceURL=webpack://cakedefi.com/./assets/js/shared/storage.js?"); /***/ }), /***/ "./assets/js/utils/get-query-params.js": /*!*********************************************!*\ !*** ./assets/js/utils/get-query-params.js ***! \*********************************************/ /***/ ((__unused_webpack_module, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"getQueryParam\": () => (/* binding */ getQueryParam)\n/* harmony export */ });\nfunction getQueryParam(query) {\n try {\n var params = new URLSearchParams(window.location.search);\n return params.get(query);\n } catch (error) {\n return null;\n }\n}\n\n//# sourceURL=webpack://cakedefi.com/./assets/js/utils/get-query-params.js?"); /***/ }), /***/ "./assets/js/utils/serialize-form-value.js": /*!*************************************************!*\ !*** ./assets/js/utils/serialize-form-value.js ***! \*************************************************/ /***/ ((__unused_webpack_module, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"serializeFormValue\": () => (/* binding */ serializeFormValue)\n/* harmony export */ });\nfunction serializeFormValue(elements) {\n var data = {};\n\n for (var i = 0; i { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"getErrorMessage\": () => (/* binding */ getErrorMessage),\n/* harmony export */ \"showApiError\": () => (/* binding */ showApiError)\n/* harmony export */ });\n/* harmony import */ var _shared_alert__WEBPACK_IMPORTED_MODULE_0__ = __webpack_require__(/*! ../shared/alert */ \"./assets/js/shared/alert.js\");\n\nvar DEFAULT_ERROR = 'Unexpected error';\nfunction getErrorMessage(err) {\n try {\n var _json$message;\n\n var json = JSON.parse(err);\n return (_json$message = json.message) !== null && _json$message !== void 0 ? _json$message : DEFAULT_ERROR;\n } catch (error) {\n return DEFAULT_ERROR;\n }\n}\nfunction showApiError(err) {\n var errorMessage = getErrorMessage(err);\n (0,_shared_alert__WEBPACK_IMPORTED_MODULE_0__.showErrorAlert)(errorMessage);\n}\n\n//# sourceURL=webpack://cakedefi.com/./assets/js/utils/show-error-message-api.js?"); /***/ }), /***/ "./node_modules/@babel/runtime/regenerator/index.js": /*!**********************************************************!*\ !*** ./node_modules/@babel/runtime/regenerator/index.js ***! \**********************************************************/ /***/ ((module, __unused_webpack_exports, __webpack_require__) => { eval("module.exports = __webpack_require__(/*! regenerator-runtime */ \"./node_modules/regenerator-runtime/runtime.js\");\n\n//# sourceURL=webpack://cakedefi.com/./node_modules/@babel/runtime/regenerator/index.js?"); /***/ }), /***/ "./node_modules/@cakedefi/cake-sdk/util/isValidEmail.js": /*!**************************************************************!*\ !*** ./node_modules/@cakedefi/cake-sdk/util/isValidEmail.js ***! \**************************************************************/ /***/ ((__unused_webpack_module, exports) => { "use strict"; eval("\n\nObject.defineProperty(exports, \"__esModule\", ({\n value: true\n}));\n\nfunction isValidEmail(email) {\n const emailRegEx = /^(([^()[\\]\\\\.,;:\\s@\"]+(\\.[^()[\\]\\\\.,;:\\s@\"]+)*)|(\".+\"))@((\\[[0-9]{1,3}\\.[0-9]{1,3}\\.[0-9]{1,3}\\.[0-9]{1,3}\\])|(([a-zA-Z\\-0-9]+\\.)+[a-zA-Z]{2,}))$/;\n return emailRegEx.test(String(email).toLowerCase());\n}\n\nexports.default = isValidEmail;\n\n//# sourceURL=webpack://cakedefi.com/./node_modules/@cakedefi/cake-sdk/util/isValidEmail.js?"); /***/ }), /***/ "./node_modules/regenerator-runtime/runtime.js": /*!*****************************************************!*\ !*** ./node_modules/regenerator-runtime/runtime.js ***! \*****************************************************/ /***/ ((module) => { eval("/**\n * Copyright (c) 2014-present, Facebook, Inc.\n *\n * This source code is licensed under the MIT license found in the\n * LICENSE file in the root directory of this source tree.\n */\nvar runtime = function (exports) {\n \"use strict\";\n\n var Op = Object.prototype;\n var hasOwn = Op.hasOwnProperty;\n var undefined; // More compressible than void 0.\n\n var $Symbol = typeof Symbol === \"function\" ? Symbol : {};\n var iteratorSymbol = $Symbol.iterator || \"@@iterator\";\n var asyncIteratorSymbol = $Symbol.asyncIterator || \"@@asyncIterator\";\n var toStringTagSymbol = $Symbol.toStringTag || \"@@toStringTag\";\n\n function define(obj, key, value) {\n Object.defineProperty(obj, key, {\n value: value,\n enumerable: true,\n configurable: true,\n writable: true\n });\n return obj[key];\n }\n\n try {\n // IE 8 has a broken Object.defineProperty that only works on DOM objects.\n define({}, \"\");\n } catch (err) {\n define = function (obj, key, value) {\n return obj[key] = value;\n };\n }\n\n function wrap(innerFn, outerFn, self, tryLocsList) {\n // If outerFn provided and outerFn.prototype is a Generator, then outerFn.prototype instanceof Generator.\n var protoGenerator = outerFn && outerFn.prototype instanceof Generator ? outerFn : Generator;\n var generator = Object.create(protoGenerator.prototype);\n var context = new Context(tryLocsList || []); // The ._invoke method unifies the implementations of the .next,\n // .throw, and .return methods.\n\n generator._invoke = makeInvokeMethod(innerFn, self, context);\n return generator;\n }\n\n exports.wrap = wrap; // Try/catch helper to minimize deoptimizations. Returns a completion\n // record like context.tryEntries[i].completion. This interface could\n // have been (and was previously) designed to take a closure to be\n // invoked without arguments, but in all the cases we care about we\n // already have an existing method we want to call, so there's no need\n // to create a new function object. We can even get away with assuming\n // the method takes exactly one argument, since that happens to be true\n // in every case, so we don't have to touch the arguments object. The\n // only additional allocation required is the completion record, which\n // has a stable shape and so hopefully should be cheap to allocate.\n\n function tryCatch(fn, obj, arg) {\n try {\n return {\n type: \"normal\",\n arg: fn.call(obj, arg)\n };\n } catch (err) {\n return {\n type: \"throw\",\n arg: err\n };\n }\n }\n\n var GenStateSuspendedStart = \"suspendedStart\";\n var GenStateSuspendedYield = \"suspendedYield\";\n var GenStateExecuting = \"executing\";\n var GenStateCompleted = \"completed\"; // Returning this object from the innerFn has the same effect as\n // breaking out of the dispatch switch statement.\n\n var ContinueSentinel = {}; // Dummy constructor functions that we use as the .constructor and\n // .constructor.prototype properties for functions that return Generator\n // objects. For full spec compliance, you may wish to configure your\n // minifier not to mangle the names of these two functions.\n\n function Generator() {}\n\n function GeneratorFunction() {}\n\n function GeneratorFunctionPrototype() {} // This is a polyfill for %IteratorPrototype% for environments that\n // don't natively support it.\n\n\n var IteratorPrototype = {};\n define(IteratorPrototype, iteratorSymbol, function () {\n return this;\n });\n var getProto = Object.getPrototypeOf;\n var NativeIteratorPrototype = getProto && getProto(getProto(values([])));\n\n if (NativeIteratorPrototype && NativeIteratorPrototype !== Op && hasOwn.call(NativeIteratorPrototype, iteratorSymbol)) {\n // This environment has a native %IteratorPrototype%; use it instead\n // of the polyfill.\n IteratorPrototype = NativeIteratorPrototype;\n }\n\n var Gp = GeneratorFunctionPrototype.prototype = Generator.prototype = Object.create(IteratorPrototype);\n GeneratorFunction.prototype = GeneratorFunctionPrototype;\n define(Gp, \"constructor\", GeneratorFunctionPrototype);\n define(GeneratorFunctionPrototype, \"constructor\", GeneratorFunction);\n GeneratorFunction.displayName = define(GeneratorFunctionPrototype, toStringTagSymbol, \"GeneratorFunction\"); // Helper for defining the .next, .throw, and .return methods of the\n // Iterator interface in terms of a single ._invoke method.\n\n function defineIteratorMethods(prototype) {\n [\"next\", \"throw\", \"return\"].forEach(function (method) {\n define(prototype, method, function (arg) {\n return this._invoke(method, arg);\n });\n });\n }\n\n exports.isGeneratorFunction = function (genFun) {\n var ctor = typeof genFun === \"function\" && genFun.constructor;\n return ctor ? ctor === GeneratorFunction || // For the native GeneratorFunction constructor, the best we can\n // do is to check its .name property.\n (ctor.displayName || ctor.name) === \"GeneratorFunction\" : false;\n };\n\n exports.mark = function (genFun) {\n if (Object.setPrototypeOf) {\n Object.setPrototypeOf(genFun, GeneratorFunctionPrototype);\n } else {\n genFun.__proto__ = GeneratorFunctionPrototype;\n define(genFun, toStringTagSymbol, \"GeneratorFunction\");\n }\n\n genFun.prototype = Object.create(Gp);\n return genFun;\n }; // Within the body of any async function, `await x` is transformed to\n // `yield regeneratorRuntime.awrap(x)`, so that the runtime can test\n // `hasOwn.call(value, \"__await\")` to determine if the yielded value is\n // meant to be awaited.\n\n\n exports.awrap = function (arg) {\n return {\n __await: arg\n };\n };\n\n function AsyncIterator(generator, PromiseImpl) {\n function invoke(method, arg, resolve, reject) {\n var record = tryCatch(generator[method], generator, arg);\n\n if (record.type === \"throw\") {\n reject(record.arg);\n } else {\n var result = record.arg;\n var value = result.value;\n\n if (value && typeof value === \"object\" && hasOwn.call(value, \"__await\")) {\n return PromiseImpl.resolve(value.__await).then(function (value) {\n invoke(\"next\", value, resolve, reject);\n }, function (err) {\n invoke(\"throw\", err, resolve, reject);\n });\n }\n\n return PromiseImpl.resolve(value).then(function (unwrapped) {\n // When a yielded Promise is resolved, its final value becomes\n // the .value of the Promise result for the\n // current iteration.\n result.value = unwrapped;\n resolve(result);\n }, function (error) {\n // If a rejected Promise was yielded, throw the rejection back\n // into the async generator function so it can be handled there.\n return invoke(\"throw\", error, resolve, reject);\n });\n }\n }\n\n var previousPromise;\n\n function enqueue(method, arg) {\n function callInvokeWithMethodAndArg() {\n return new PromiseImpl(function (resolve, reject) {\n invoke(method, arg, resolve, reject);\n });\n }\n\n return previousPromise = // If enqueue has been called before, then we want to wait until\n // all previous Promises have been resolved before calling invoke,\n // so that results are always delivered in the correct order. If\n // enqueue has not been called before, then it is important to\n // call invoke immediately, without waiting on a callback to fire,\n // so that the async generator function has the opportunity to do\n // any necessary setup in a predictable way. This predictability\n // is why the Promise constructor synchronously invokes its\n // executor callback, and why async functions synchronously\n // execute code before the first await. Since we implement simple\n // async functions in terms of async generators, it is especially\n // important to get this right, even though it requires care.\n previousPromise ? previousPromise.then(callInvokeWithMethodAndArg, // Avoid propagating failures to Promises returned by later\n // invocations of the iterator.\n callInvokeWithMethodAndArg) : callInvokeWithMethodAndArg();\n } // Define the unified helper method that is used to implement .next,\n // .throw, and .return (see defineIteratorMethods).\n\n\n this._invoke = enqueue;\n }\n\n defineIteratorMethods(AsyncIterator.prototype);\n define(AsyncIterator.prototype, asyncIteratorSymbol, function () {\n return this;\n });\n exports.AsyncIterator = AsyncIterator; // Note that simple async functions are implemented on top of\n // AsyncIterator objects; they just return a Promise for the value of\n // the final result produced by the iterator.\n\n exports.async = function (innerFn, outerFn, self, tryLocsList, PromiseImpl) {\n if (PromiseImpl === void 0) PromiseImpl = Promise;\n var iter = new AsyncIterator(wrap(innerFn, outerFn, self, tryLocsList), PromiseImpl);\n return exports.isGeneratorFunction(outerFn) ? iter // If outerFn is a generator, return the full iterator.\n : iter.next().then(function (result) {\n return result.done ? result.value : iter.next();\n });\n };\n\n function makeInvokeMethod(innerFn, self, context) {\n var state = GenStateSuspendedStart;\n return function invoke(method, arg) {\n if (state === GenStateExecuting) {\n throw new Error(\"Generator is already running\");\n }\n\n if (state === GenStateCompleted) {\n if (method === \"throw\") {\n throw arg;\n } // Be forgiving, per 25.3.3.3.3 of the spec:\n // https://people.mozilla.org/~jorendorff/es6-draft.html#sec-generatorresume\n\n\n return doneResult();\n }\n\n context.method = method;\n context.arg = arg;\n\n while (true) {\n var delegate = context.delegate;\n\n if (delegate) {\n var delegateResult = maybeInvokeDelegate(delegate, context);\n\n if (delegateResult) {\n if (delegateResult === ContinueSentinel) continue;\n return delegateResult;\n }\n }\n\n if (context.method === \"next\") {\n // Setting context._sent for legacy support of Babel's\n // function.sent implementation.\n context.sent = context._sent = context.arg;\n } else if (context.method === \"throw\") {\n if (state === GenStateSuspendedStart) {\n state = GenStateCompleted;\n throw context.arg;\n }\n\n context.dispatchException(context.arg);\n } else if (context.method === \"return\") {\n context.abrupt(\"return\", context.arg);\n }\n\n state = GenStateExecuting;\n var record = tryCatch(innerFn, self, context);\n\n if (record.type === \"normal\") {\n // If an exception is thrown from innerFn, we leave state ===\n // GenStateExecuting and loop back for another invocation.\n state = context.done ? GenStateCompleted : GenStateSuspendedYield;\n\n if (record.arg === ContinueSentinel) {\n continue;\n }\n\n return {\n value: record.arg,\n done: context.done\n };\n } else if (record.type === \"throw\") {\n state = GenStateCompleted; // Dispatch the exception by looping back around to the\n // context.dispatchException(context.arg) call above.\n\n context.method = \"throw\";\n context.arg = record.arg;\n }\n }\n };\n } // Call delegate.iterator[context.method](context.arg) and handle the\n // result, either by returning a { value, done } result from the\n // delegate iterator, or by modifying context.method and context.arg,\n // setting context.delegate to null, and returning the ContinueSentinel.\n\n\n function maybeInvokeDelegate(delegate, context) {\n var method = delegate.iterator[context.method];\n\n if (method === undefined) {\n // A .throw or .return when the delegate iterator has no .throw\n // method always terminates the yield* loop.\n context.delegate = null;\n\n if (context.method === \"throw\") {\n // Note: [\"return\"] must be used for ES3 parsing compatibility.\n if (delegate.iterator[\"return\"]) {\n // If the delegate iterator has a return method, give it a\n // chance to clean up.\n context.method = \"return\";\n context.arg = undefined;\n maybeInvokeDelegate(delegate, context);\n\n if (context.method === \"throw\") {\n // If maybeInvokeDelegate(context) changed context.method from\n // \"return\" to \"throw\", let that override the TypeError below.\n return ContinueSentinel;\n }\n }\n\n context.method = \"throw\";\n context.arg = new TypeError(\"The iterator does not provide a 'throw' method\");\n }\n\n return ContinueSentinel;\n }\n\n var record = tryCatch(method, delegate.iterator, context.arg);\n\n if (record.type === \"throw\") {\n context.method = \"throw\";\n context.arg = record.arg;\n context.delegate = null;\n return ContinueSentinel;\n }\n\n var info = record.arg;\n\n if (!info) {\n context.method = \"throw\";\n context.arg = new TypeError(\"iterator result is not an object\");\n context.delegate = null;\n return ContinueSentinel;\n }\n\n if (info.done) {\n // Assign the result of the finished delegate to the temporary\n // variable specified by delegate.resultName (see delegateYield).\n context[delegate.resultName] = info.value; // Resume execution at the desired location (see delegateYield).\n\n context.next = delegate.nextLoc; // If context.method was \"throw\" but the delegate handled the\n // exception, let the outer generator proceed normally. If\n // context.method was \"next\", forget context.arg since it has been\n // \"consumed\" by the delegate iterator. If context.method was\n // \"return\", allow the original .return call to continue in the\n // outer generator.\n\n if (context.method !== \"return\") {\n context.method = \"next\";\n context.arg = undefined;\n }\n } else {\n // Re-yield the result returned by the delegate method.\n return info;\n } // The delegate iterator is finished, so forget it and continue with\n // the outer generator.\n\n\n context.delegate = null;\n return ContinueSentinel;\n } // Define Generator.prototype.{next,throw,return} in terms of the\n // unified ._invoke helper method.\n\n\n defineIteratorMethods(Gp);\n define(Gp, toStringTagSymbol, \"Generator\"); // A Generator should always return itself as the iterator object when the\n // @@iterator function is called on it. 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If\n // you've misconfigured your bundler to force strict mode and applied a\n // CSP to forbid Function, and you're not willing to fix either of those\n // problems, please detail your unique predicament in a GitHub issue.\n if (typeof globalThis === \"object\") {\n globalThis.regeneratorRuntime = runtime;\n } else {\n Function(\"r\", \"regeneratorRuntime = r\")(runtime);\n }\n}\n\n//# sourceURL=webpack://cakedefi.com/./node_modules/regenerator-runtime/runtime.js?"); /***/ }), /***/ "./plain-sign-up/main.js": /*!*******************************!*\ !*** ./plain-sign-up/main.js ***! \*******************************/ /***/ ((__unused_webpack_module, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony import */ var _assets_js_components_signup_form__WEBPACK_IMPORTED_MODULE_0__ = __webpack_require__(/*! ../assets/js/components/signup-form */ \"./assets/js/components/signup-form/index.js\");\n\n\nfunction initModal() {\n var _document$querySelect, _document$querySelect2;\n\n (_document$querySelect = document.querySelector(\".btn-open-modal\")) === null || _document$querySelect === void 0 ? void 0 : _document$querySelect.addEventListener('click', function (e) {\n var target = this.getAttribute('data-target');\n document.getElementById(target).classList.add(\"in\");\n });\n (_document$querySelect2 = document.querySelector(\".modal\")) === null || _document$querySelect2 === void 0 ? void 0 : _document$querySelect2.addEventListener('click', function (e) {\n if (e.target !== this) return;\n this.classList.remove(\"in\");\n });\n}\n\nfunction moveFixedElementsToBody() {\n if (document.getElementById('GlobalAlert')) {\n document.body.appendChild(document.getElementById('GlobalAlert'));\n }\n\n if (document.getElementById('GlobalSpinner')) {\n document.body.appendChild(document.getElementById('GlobalSpinner'));\n }\n}\n\n(function () {\n _assets_js_components_signup_form__WEBPACK_IMPORTED_MODULE_0__.signUpForm.init();\n moveFixedElementsToBody();\n initModal();\n})();\n\n//# sourceURL=webpack://cakedefi.com/./plain-sign-up/main.js?"); /***/ }), /***/ "./node_modules/@babel/runtime/helpers/esm/arrayLikeToArray.js": /*!*********************************************************************!*\ !*** ./node_modules/@babel/runtime/helpers/esm/arrayLikeToArray.js ***! \*********************************************************************/ /***/ ((__unused_webpack___webpack_module__, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"default\": () => (/* binding */ _arrayLikeToArray)\n/* harmony export */ });\nfunction _arrayLikeToArray(arr, len) {\n if (len == null || len > arr.length) len = arr.length;\n\n for (var i = 0, arr2 = new Array(len); i { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"default\": () => (/* binding */ _arrayWithoutHoles)\n/* harmony export */ });\n/* harmony import */ var _arrayLikeToArray_js__WEBPACK_IMPORTED_MODULE_0__ = __webpack_require__(/*! ./arrayLikeToArray.js */ \"./node_modules/@babel/runtime/helpers/esm/arrayLikeToArray.js\");\n\nfunction _arrayWithoutHoles(arr) {\n if (Array.isArray(arr)) return (0,_arrayLikeToArray_js__WEBPACK_IMPORTED_MODULE_0__.default)(arr);\n}\n\n//# sourceURL=webpack://cakedefi.com/./node_modules/@babel/runtime/helpers/esm/arrayWithoutHoles.js?"); /***/ }), /***/ "./node_modules/@babel/runtime/helpers/esm/asyncToGenerator.js": /*!*********************************************************************!*\ !*** ./node_modules/@babel/runtime/helpers/esm/asyncToGenerator.js ***! \*********************************************************************/ /***/ ((__unused_webpack___webpack_module__, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"default\": () => (/* binding */ _asyncToGenerator)\n/* harmony export */ });\nfunction asyncGeneratorStep(gen, resolve, reject, _next, _throw, key, arg) {\n try {\n var info = gen[key](arg);\n var value = info.value;\n } catch (error) {\n reject(error);\n return;\n }\n\n if (info.done) {\n resolve(value);\n } else {\n Promise.resolve(value).then(_next, _throw);\n }\n}\n\nfunction _asyncToGenerator(fn) {\n return function () {\n var self = this,\n args = arguments;\n return new Promise(function (resolve, reject) {\n var gen = fn.apply(self, args);\n\n function _next(value) {\n asyncGeneratorStep(gen, resolve, reject, _next, _throw, \"next\", value);\n }\n\n function _throw(err) {\n asyncGeneratorStep(gen, resolve, reject, _next, _throw, \"throw\", err);\n }\n\n _next(undefined);\n });\n };\n}\n\n//# sourceURL=webpack://cakedefi.com/./node_modules/@babel/runtime/helpers/esm/asyncToGenerator.js?"); /***/ }), /***/ "./node_modules/@babel/runtime/helpers/esm/classCallCheck.js": /*!*******************************************************************!*\ !*** ./node_modules/@babel/runtime/helpers/esm/classCallCheck.js ***! \*******************************************************************/ /***/ ((__unused_webpack___webpack_module__, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"default\": () => (/* binding */ _classCallCheck)\n/* harmony export */ });\nfunction _classCallCheck(instance, Constructor) {\n if (!(instance instanceof Constructor)) {\n throw new TypeError(\"Cannot call a class as a function\");\n }\n}\n\n//# sourceURL=webpack://cakedefi.com/./node_modules/@babel/runtime/helpers/esm/classCallCheck.js?"); /***/ }), /***/ "./node_modules/@babel/runtime/helpers/esm/createClass.js": /*!****************************************************************!*\ !*** ./node_modules/@babel/runtime/helpers/esm/createClass.js ***! \****************************************************************/ /***/ ((__unused_webpack___webpack_module__, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"default\": () => (/* binding */ _createClass)\n/* harmony export */ });\nfunction _defineProperties(target, props) {\n for (var i = 0; i { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"default\": () => (/* binding */ _defineProperty)\n/* harmony export */ 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if (typeof Symbol !== \"undefined\" && iter[Symbol.iterator] != null || iter[\"@@iterator\"] != null) return Array.from(iter);\n}\n\n//# sourceURL=webpack://cakedefi.com/./node_modules/@babel/runtime/helpers/esm/iterableToArray.js?"); /***/ }), /***/ "./node_modules/@babel/runtime/helpers/esm/nonIterableSpread.js": /*!**********************************************************************!*\ !*** ./node_modules/@babel/runtime/helpers/esm/nonIterableSpread.js ***! \**********************************************************************/ /***/ ((__unused_webpack___webpack_module__, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"default\": () => (/* binding */ _nonIterableSpread)\n/* harmony export */ });\nfunction _nonIterableSpread() {\n throw new TypeError(\"Invalid attempt to spread non-iterable instance.\\nIn order to be iterable, non-array objects must have a [Symbol.iterator]() method.\");\n}\n\n//# sourceURL=webpack://cakedefi.com/./node_modules/@babel/runtime/helpers/esm/nonIterableSpread.js?"); /***/ }), /***/ "./node_modules/@babel/runtime/helpers/esm/toConsumableArray.js": /*!**********************************************************************!*\ !*** ./node_modules/@babel/runtime/helpers/esm/toConsumableArray.js ***! \**********************************************************************/ /***/ ((__unused_webpack___webpack_module__, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"default\": () => (/* binding */ _toConsumableArray)\n/* harmony export */ });\n/* harmony import */ var _arrayWithoutHoles_js__WEBPACK_IMPORTED_MODULE_0__ = __webpack_require__(/*! ./arrayWithoutHoles.js */ \"./node_modules/@babel/runtime/helpers/esm/arrayWithoutHoles.js\");\n/* harmony import */ var _iterableToArray_js__WEBPACK_IMPORTED_MODULE_1__ = __webpack_require__(/*! ./iterableToArray.js */ \"./node_modules/@babel/runtime/helpers/esm/iterableToArray.js\");\n/* harmony import */ var _unsupportedIterableToArray_js__WEBPACK_IMPORTED_MODULE_2__ = __webpack_require__(/*! ./unsupportedIterableToArray.js */ \"./node_modules/@babel/runtime/helpers/esm/unsupportedIterableToArray.js\");\n/* harmony import */ var _nonIterableSpread_js__WEBPACK_IMPORTED_MODULE_3__ = __webpack_require__(/*! ./nonIterableSpread.js */ \"./node_modules/@babel/runtime/helpers/esm/nonIterableSpread.js\");\n\n\n\n\nfunction _toConsumableArray(arr) {\n return (0,_arrayWithoutHoles_js__WEBPACK_IMPORTED_MODULE_0__.default)(arr) || (0,_iterableToArray_js__WEBPACK_IMPORTED_MODULE_1__.default)(arr) || (0,_unsupportedIterableToArray_js__WEBPACK_IMPORTED_MODULE_2__.default)(arr) || (0,_nonIterableSpread_js__WEBPACK_IMPORTED_MODULE_3__.default)();\n}\n\n//# sourceURL=webpack://cakedefi.com/./node_modules/@babel/runtime/helpers/esm/toConsumableArray.js?"); /***/ }), /***/ "./node_modules/@babel/runtime/helpers/esm/unsupportedIterableToArray.js": /*!*******************************************************************************!*\ !*** ./node_modules/@babel/runtime/helpers/esm/unsupportedIterableToArray.js ***! \*******************************************************************************/ /***/ ((__unused_webpack___webpack_module__, __webpack_exports__, __webpack_require__) => { "use strict"; eval("__webpack_require__.r(__webpack_exports__);\n/* harmony export */ __webpack_require__.d(__webpack_exports__, {\n/* harmony export */ \"default\": () => (/* binding */ _unsupportedIterableToArray)\n/* harmony export */ });\n/* harmony import */ var _arrayLikeToArray_js__WEBPACK_IMPORTED_MODULE_0__ = __webpack_require__(/*! ./arrayLikeToArray.js */ \"./node_modules/@babel/runtime/helpers/esm/arrayLikeToArray.js\");\n\nfunction _unsupportedIterableToArray(o, minLen) {\n if (!o) return;\n if (typeof o === \"string\") return (0,_arrayLikeToArray_js__WEBPACK_IMPORTED_MODULE_0__.default)(o, minLen);\n var n = Object.prototype.toString.call(o).slice(8, -1);\n if (n === \"Object\" && o.constructor) n = o.constructor.name;\n if (n === \"Map\" || n === \"Set\") return Array.from(o);\n if (n === \"Arguments\" || /^(?:Ui|I)nt(?:8|16|32)(?:Clamped)?Array$/.test(n)) return (0,_arrayLikeToArray_js__WEBPACK_IMPORTED_MODULE_0__.default)(o, minLen);\n}\n\n//# sourceURL=webpack://cakedefi.com/./node_modules/@babel/runtime/helpers/esm/unsupportedIterableToArray.js?"); /***/ }), /***/ "./node_modules/@cakedefi/cake-sdk/assets/allowed-countries-en.json": /*!**************************************************************************!*\ !*** ./node_modules/@cakedefi/cake-sdk/assets/allowed-countries-en.json ***! \**************************************************************************/ /***/ ((module) => { "use strict"; eval("module.exports = JSON.parse('[{\"label\":\"Albania\",\"value\":\"AL\"},{\"label\":\"Algeria\",\"value\":\"DZ\"},{\"label\":\"Andorra\",\"value\":\"AD\"},{\"label\":\"Angola\",\"value\":\"AO\"},{\"label\":\"Anguilla\",\"value\":\"AI\"},{\"label\":\"Antigua & Barbuda\",\"value\":\"AG\"},{\"label\":\"Argentina\",\"value\":\"AR\"},{\"label\":\"Armenia\",\"value\":\"AM\"},{\"label\":\"Aruba\",\"value\":\"AW\"},{\"label\":\"Australia\",\"value\":\"AU\"},{\"label\":\"Austria\",\"value\":\"AT\"},{\"label\":\"Azerbaijan\",\"value\":\"AZ\"},{\"label\":\"Bahrain\",\"value\":\"BH\"},{\"label\":\"Barbados\",\"value\":\"BB\"},{\"label\":\"Belgium\",\"value\":\"BE\"},{\"label\":\"Belize\",\"value\":\"BZ\"},{\"label\":\"Benin\",\"value\":\"BJ\"},{\"label\":\"Bermuda\",\"value\":\"BM\"},{\"label\":\"Bhutan\",\"value\":\"BT\"},{\"label\":\"Bolivia\",\"value\":\"BO\"},{\"label\":\"Bosnia & Herzegovina\",\"value\":\"BA\"},{\"label\":\"Brazil\",\"value\":\"BR\"},{\"label\":\"British Virgin Is.\",\"value\":\"VG\"},{\"label\":\"Brunei\",\"value\":\"BN\"},{\"label\":\"Bulgaria\",\"value\":\"BG\"},{\"label\":\"Burkina Faso\",\"value\":\"BF\"},{\"label\":\"Cambodia\",\"value\":\"KH\"},{\"label\":\"Cameroon\",\"value\":\"CM\"},{\"label\":\"Canada\",\"value\":\"CA\"},{\"label\":\"Cape Verde\",\"value\":\"CV\"},{\"label\":\"Cayman Islands\",\"value\":\"KY\"},{\"label\":\"Chad\",\"value\":\"TD\"},{\"label\":\"Chile\",\"value\":\"CL\"},{\"label\":\"China\",\"value\":\"CN\"},{\"label\":\"Colombia\",\"value\":\"CO\"},{\"label\":\"Comoros\",\"value\":\"KM\"},{\"label\":\"Congo, Repub. of the\",\"value\":\"CG\"},{\"label\":\"Cook Islands\",\"value\":\"CK\"},{\"label\":\"Costa Rica\",\"value\":\"CR\"},{\"label\":\"Cote d\\'Ivoire\",\"value\":\"CI\"},{\"label\":\"Croatia\",\"value\":\"HR\"},{\"label\":\"Cyprus\",\"value\":\"CY\"},{\"label\":\"Czech Republic\",\"value\":\"CZ\"},{\"label\":\"Denmark\",\"value\":\"DK\"},{\"label\":\"Djibouti\",\"value\":\"DJ\"},{\"label\":\"Dominica\",\"value\":\"DM\"},{\"label\":\"Dominican Republic\",\"value\":\"DO\"},{\"label\":\"East Timor\",\"value\":\"TL\"},{\"label\":\"Ecuador\",\"value\":\"EC\"},{\"label\":\"Egypt\",\"value\":\"EG\"},{\"label\":\"El Salvador\",\"value\":\"SV\"},{\"label\":\"Equatorial Guinea\",\"value\":\"GQ\"},{\"label\":\"Eritrea\",\"value\":\"ER\"},{\"label\":\"Estonia\",\"value\":\"EE\"},{\"label\":\"Faroe Islands\",\"value\":\"FO\"},{\"label\":\"Fiji\",\"value\":\"FJ\"},{\"label\":\"Finland\",\"value\":\"FI\"},{\"label\":\"France\",\"value\":\"FR\"},{\"label\":\"French Guiana\",\"value\":\"GF\"},{\"label\":\"French Polynesia\",\"value\":\"PF\"},{\"label\":\"Gabon\",\"value\":\"GA\"},{\"label\":\"Gambia\",\"value\":\"GM\"},{\"label\":\"Georgia\",\"value\":\"GE\"},{\"label\":\"Germany\",\"value\":\"DE\"},{\"label\":\"Gibraltar\",\"value\":\"GI\"},{\"label\":\"Greece\",\"value\":\"GR\"},{\"label\":\"Greenland\",\"value\":\"GL\"},{\"label\":\"Grenada\",\"value\":\"GD\"},{\"label\":\"Guadeloupe\",\"value\":\"GP\"},{\"label\":\"Guatemala\",\"value\":\"GT\"},{\"label\":\"Guernsey\",\"value\":\"GG\"},{\"label\":\"Guinea\",\"value\":\"GN\"},{\"label\":\"Guinea-Bissau\",\"value\":\"GW\"},{\"label\":\"Guyana\",\"value\":\"GY\"},{\"label\":\"Haiti\",\"value\":\"HT\"},{\"label\":\"Honduras\",\"value\":\"HN\"},{\"label\":\"Hong Kong\",\"value\":\"HK\"},{\"label\":\"Hungary\",\"value\":\"HU\"},{\"label\":\"Iceland\",\"value\":\"IS\"},{\"label\":\"Indonesia\",\"value\":\"ID\"},{\"label\":\"Ireland\",\"value\":\"IE\"},{\"label\":\"Isle of Man\",\"value\":\"IM\"},{\"label\":\"Israel\",\"value\":\"IL\"},{\"label\":\"Italy\",\"value\":\"IT\"},{\"label\":\"Jamaica\",\"value\":\"JM\"},{\"label\":\"Japan\",\"value\":\"JP\"},{\"label\":\"Jersey\",\"value\":\"JE\"},{\"label\":\"Jordan\",\"value\":\"JO\"},{\"label\":\"Kazakhstan\",\"value\":\"KZ\"},{\"label\":\"Kenya\",\"value\":\"KE\"},{\"label\":\"Kiribati\",\"value\":\"KI\"},{\"label\":\"Korea, South\",\"value\":\"KR\"},{\"label\":\"Kuwait\",\"value\":\"KW\"},{\"label\":\"Kyrgyzstan\",\"value\":\"KG\"},{\"label\":\"Laos\",\"value\":\"LA\"},{\"label\":\"Latvia\",\"value\":\"LV\"},{\"label\":\"Lesotho\",\"value\":\"LS\"},{\"label\":\"Liberia\",\"value\":\"LR\"},{\"label\":\"Liechtenstein\",\"value\":\"LI\"},{\"label\":\"Lithuania\",\"value\":\"LT\"},{\"label\":\"Luxembourg\",\"value\":\"LU\"},{\"label\":\"Macau\",\"value\":\"MO\"},{\"label\":\"North 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/******/ () => (module['default']) : /******/ () => (module); /******/ __webpack_require__.d(getter, { a: getter }); /******/ return getter; /******/ }; /******/ })(); /******/ /******/ /* webpack/runtime/define property getters */ /******/ (() => { /******/ // define getter functions for harmony exports /******/ __webpack_require__.d = (exports, definition) => { /******/ for(var key in definition) { /******/ if(__webpack_require__.o(definition, key) && !__webpack_require__.o(exports, key)) { /******/ Object.defineProperty(exports, key, { enumerable: true, get: definition[key] }); /******/ } /******/ } /******/ }; /******/ })(); /******/ /******/ /* webpack/runtime/hasOwnProperty shorthand */ /******/ (() => { /******/ __webpack_require__.o = (obj, prop) => (Object.prototype.hasOwnProperty.call(obj, prop)) /******/ })(); /******/ /******/ /* webpack/runtime/make namespace object */ /******/ (() => { /******/ // define __esModule on exports /******/ __webpack_require__.r = (exports) => { /******/ if(typeof Symbol !== 'undefined' && Symbol.toStringTag) { /******/ Object.defineProperty(exports, Symbol.toStringTag, { value: 'Module' }); /******/ } /******/ Object.defineProperty(exports, '__esModule', { value: true }); /******/ }; /******/ })(); /******/ /************************************************************************/ /******/ /******/ // startup /******/ // Load entry module and return exports /******/ // This entry module can't be inlined because the eval devtool is used. /******/ var __webpack_exports__ = __webpack_require__("./plain-sign-up/main.js"); /******/ /******/ })() ;




- Cake DeFi
Cake DeFi Makes It Easy To Exit Your Staked ETH
Cake DeFi Makes It Easy To Exit Your Staked ETH

With ETH Staking, Cake DeFi has introduced yet another service to unlock the full cash flow potential of your crypto holdings. But that’s not all! It is now possible to unstake and withdraw previously staked ETH in just a few clicks with Cake DeFi's easy step-by-step process.

The ability to sell or withdraw staked ETH will be available to all Cake DeFi customers beginning 22 November 2022 at 2pm SGT (6am UTC). You can access the service on both Cake DeFi’s web and mobile app.

How do I exit a staked ETH position?

The current problem with staking ETH on many exchanges and platforms is that staked ETH cannot be unstaked or retrieved via the Ethereum network until the completion of the Shanghai upgrade in 2023 at the earliest. As a result, stakers are not able to unstake and sell their ETH freely, which greatly increases an investor’s risks. Fortunately, Cake DeFi offers a solution where you can stake your ETH while maintaining some level of liquidity.

This feature will give ETH Staking customers the ability to exit their staked positions via an open market built on the DeFiChain DEX through tradeable csETH (cake staked ETH). A csETH is a DeFiChain Standard Token that represents ETH locked up in the Staking nodes, and stipulates a user's right to redeem staked ETH on Cake DeFi. The csETH-ETH liquidity pool facilitates the withdrawal or sale of staked ETH on the DeFiChain DEX and can be transparently tracked on DeFi Scan.

In order to exit a staked ETH position, Cake DeFi offers the following two options:

Exit back to ETH
This is the most user-friendly option to exit your staked ETH position. As with any other DEX swap, you will be shown the conversion rate via the DeFiChain DEX during the swap process. As soon as the swap is complete, the ETH will be transferred back to your Cake DeFi account at the current conversion rate minus a 0.5% DEX fee, which goes to the liquidity miners.
Exit back to csETH
This option is for advanced users who want to exit their staked ETH position and receive csETH in return, which they can then withdraw to a DeFiChain address. These withdrawn csETH do not receive any rewards; only csETH staked on Cake qualify for rewards. In addition, advanced users can withdraw csETH to liquidity mine ETH on DeFiChain and receive a 0.5% liquidity mining fee.Cake DeFi Makes It Easy To Exit Your Staked ETHHow do you deposit csETH?

csETH can be purchased directly on the DeFiChain DEX and transferred to a Cake DeFi account, where it shows up directly on the balance page together with a deposit address. Do note that csETH is automatically staked when it's sent to a Cake DeFi account. There are no idle csETH on the Cake DeFi platform.

Future outlook

Eventually, Cake DeFi plans to make csETH available on other blockchains, such as Ethereum (Uniswap). As a result, cake-staked ETH will be available to a broader DeFi user base, and will also allow for more liquidity to flow into csETH.

How unstaking is done on Cake DeFi

A step-by-step tutorial on how to exit staked ETH can be found in the following infographic.

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The Cake DeFi ETH Staking product is not only one of the most lucrative and transparent ways to earn passive income from your ETH holdings, but also allows you to withdraw staked ETH via an open market through the DeFiChain DEX. If you have idle ETH lying around, then you should consider investing them in our Staking product in just three simple steps. You can also find more info in our previous blog post or you can check out our FAQs.

Happy baking!

- Cake DeFi
APR vs APY: What Are They, And How Do They Differ?
APR vs APY: What Are They, And How Do They Differ?

There are a lot of acronyms and technical terms in the world of personal finance that can be confusing for new investors. Two of the most common terms you’ll see are APY and APR, and it’s important to understand the difference between them.

Introduction: What is APR and APY?

The APR or annual percentage rate refers to the yearly interest generated that's charged to borrowers or paid to investors. Whenever you sign up for a loan or credit card with an APR (annual percentage rate), you are agreeing to pay the lender this particular interest rate over the course of one year.

As an example, if the APR is 3% and $10,000 is borrowed, the initial $10,000 loan plus $300 in interest must be paid back after a year. In contrast, if $10,000 is invested at the same interest rate, it will yield a $300 return after a year.

It is clear from the above example that understanding the APR is important for determining how much money will be owed when borrowing money or how much an investor will receive. In the context of credit cards, APR is typically not charged when the card is used, but the balance must be paid in full by the due date. However, a balance that hasn't been paid by the due date is subject to interest (APR) at the end of each billing cycle.

Annual percentage yield, or APY, is a method of determining how much money can be earned on an interest-bearing account in one year. When compared to the APR, which only considers ordinary interest, the APY also takes compound interest into account. The compound interest earned is the sum of the interest earned and the principal invested. In this sense, the APY is more profitable than the APR if you invest your money.

What is APR in crypto?

When it comes to cryptocurrency, the APR refers to the interest rate investors can expect to earn with their investment – whether it is through lending, staking, or liquidity mining. In addition, it takes into account other fees that borrowers have to pay, with the exception of compound interest.

An investment or loan's APR is essentially its ordinary interest rate applied to the principal. APRs are annualized rates, which means prorated interest will be charged if a loan or investment lasts for less than one year. For example, if you invest at 5% APR for six months, you will earn 2.5% of your original investment.

It is very straightforward to calculate the APR. Consider an investment of 0.5 Bitcoin (BTC) into Cake DeFi's Earn product. With an APR of 7%, after one year of investing, 0.035 Bitcoin will be earned on top of the initial investment. Consequently, the investment now totals 0.535 Bitcoin, which includes 0.5 Bitcoin principal and 0.035 Bitcoin interest (based on Earn's 7% APR).

APR vs APY: What Are They, And How Do They Differ?How to Calculate the Annual Percentage Rate?

In order to calculate the total final amount based on APR, follow these steps:

A = [P x (1 + RxT)] where

A = total amount
P = principal (initial investment)
R = interest rate
T = time in years

In the example above, it would be calculated as follows:

A = [P x (1 + RxT)] where

P = 0.5 BTC
R = 7% or 0.07
T = 1 year

A = [0.5 x (1 + 0.07x1)]
A = 0.535

If the investment is retained for a shorter period, the calculation changes. If you hold for three months, you will have held for a quarter of a year (0.25), so you will need to calculate:

A = [P x (1 + RxT)] where

P = 0.5 BTC
R = 7% or 0.07
T = 0.25 years

A = [0.5 x (1 + 0.07x0.25)]
A = 0.50875

That means that you will earn 0.00875 Bitcoin on top of the initial investment if you hold for three months.

What is APY in crypto?

The Annual Percentage Yield, or APY, measures how much money can be earned on an interest-bearing account in a year. A crypto investment's APY indicates its rate of return. Unlike APR, which considers only the simple interest, APY takes compound interest into account.  

Compund interest is the amount received both on the principal (the money you put into the account) and on the accumulated interest. The power of compounding lies in its ability to create money over time, which is why it is such a powerful investment tool. A compound interest rate is not the same as a simple interest rate. The term "simple interest" refers to interest that is generated only on the main deposit.

For crypto investors looking to make a return on investment while holding their investments, cryptocurrency savings or investment accounts with APY could be a good option. There are many crypto yield programs to choose from. Be sure to research them before signing up. There may be differences between platforms in terms of fees, entrance barriers, interest-earning procedures, and types of crypto assets available.

Cake DeFi, for instance, offers a varity of cryptocurrency investment options such as Earn, Lending, Staking or Liquidity Mining. Earn, for instance, can be compared to a savings account where you deposit Bitcoin, or any other coin, and get a fixed return after a certain period. Investing 10,000 USDT at 5% APY will earn you 10,500 USDT in a year, for instance. It is typical for interest to accrue regularly, whether it is daily, weekly, monthly, or on another schedule.

How to Calculate the Annual Percentage Yield?

The APY calculation is a bit more complicated than the APR since interest is added to the principal, and then interest is calculated based on the number of periods the amount has been adjusted. The compound interest can be set on a daily, weekly, monthly, annual or perpetual basis.

APY = (1 + r / n)^n - 1 where

r = period rate
n = number of compounding periods

Suppose an investment of 1,000 DFI is made at a compound interest rate of 20% and daily compounding. As a result of the calculation above, an initial investment of 1,000 DFI yields 221 DFI over one year, making a total of 1,221 DFI in the first year and 1,492 the following year. Additionally,  higher interest rates and longer holding periods increase earnings.

APR vs. APY: Which one is better?

As a general rule, APR rates are better when borrowing money, whereas APY rates are better when investing. If you are investing in crypto for yield, compounding can work wonders for you.

With Cake DeFi’s curated product line, you can invest a variety of popular coins with interest paid in APY in a low-risk, guaranteed-withdrawal environment. Some coins like DFI offer an APY rate of close to 18 percent. These investments offer some of the highest APYs in the industry and the platform itself ensures that your investment is always withdrawable.

To start generating passive income with your crypto and build wealth for the long term, you may click here to sign up for a Cake DeFi account.

APR vs APY: What Are They, And How Do They Differ?

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- Mr. Creatonics
Binance Sub Accounts101: Everything You Need To Know To Get Started
Binance Sub Accounts101 Have you ever wondered if you can have multiple Binance accounts? Have you ever wanted to test different trading and investing strategies but not in the same Binance account? Have you ever wanted to manage trading or investing for someone you know?

Two of the less-known features of Binance exchange are

Sub-account feature Managed Sub-account feature

In this guide, I will help you understand everything about the Binance Sub-account feature. This will help you learn more about the handy features of Binance, which you may need to help you become a better trader/investor.

What is the Binance sub-account feature?

Binance let you create multiple accounts under your main account (master account), which you can manage from a single login. 

These sub-accounts could be created as a child account of the master account, and you can manage a few things, such as:

Transfer funds between your master account to sub-accounts Transfer funds between sub-accounts to the master account Manage API and permission of any sub-account Order management – Check current open orders, Order history, and trade history. Login history – Check the sub-account’s login history by date, IP history, and location.

You can create a Binance sub-account in two ways, which I have explained in the further section of this guide.

 For now, let’s understand who should be using the sub-account feature. 

Who and why should you use the Binance sub-account feature?

Corporate account holders use Binance sub-accounts to test different trading strategies; similarly, Individual pro traders and investors are using it to test different techniques and strategies.

Example 1 – Why an Individual might need a sub-account? 

Let’s take the example of Mr. Creatonics, who is a pro-trader and wishes to try out different strategies such as –

Buy and Hold strategies Grid bot trading strategy DCA strategy Copy trade

Similarly, other trading strategies…

To accurately track the performance of each trade under one account could be difficult, and there could be asset overlap. However, the best solution is to use a unique Binance account for different strategies.

The problem is that Binance does not allow users to create more than one account. This is where the Sub-account feature comes into the picture.

As a corporate account user or an Individual user, you can create multiple sub-accounts under your existing Binance account. This way, you don’t have to get into the hassles of managing the security of multiple Binance accounts, and you will save considerable time.

Example 2 – Why a corporate might need a sub-account? 

Let’s understand the need for a Binance sub-account with another example.

Let’s assume you are a hedge fund manager, and your company has a Binance corporate account. Now, you have three analysts who trade with three different strategies. 

To ensure that your analysts have complete freedom and total control stays with you, you can create their sub-accounts within your Binance corporate account and let your analysts manage them as independent accounts.

They can either log in using the email/password provided by you, or you can create an API key for every sub-account and let them trade using their favorite trading terminal.

Note 1- The functions of sub-accounts could be different. For example, some of them could have Futures and margin trading enabled, or others could have only spot trading enabled. 

Binance Sub Accounts

Note 2- The sub-account users don’t have permission to withdraw funds. As the master account, you can only transfer funds or withdraw funds. 

The application of Binance sub-accounts is immense, and as you grow in your journey of being a trader or investor, you will find a lot of value in this feature. 

How to Enable the Sub-account feature in your Binance account? Corporate users – This feature is enabled by default if you have a corporate Binance account. Simply log in to your Binance dashboard,  and on the left side, you will find the Binance sub-account feature.  Individual users – If you have a KYC’d account on Binance, and your level is VIP 1 or more, you will be able to access the Sub-account feature from your dashboard. Interestingly, the list of eligible accounts will automatically update at 1:00 AM UTC daily. From here on, the sub-account function will be permanent. So, even if your master account level degrades from VIP 1 to a regular user, you will be able to continue enjoying the sub-account feature. 

Here is the upgrade requirement from a regular user account to a VIP level 1 account. 

Binance Spot Trading Fee Rate

What are the other benefits and features of Binance sub-accounts?

The trading volume of your sub-accounts will contribute towards your master account VIP level and discounts. The trading fees of your master account will apply to all the sub-account. For example; if your master account VIP level is 5, your sub-account will enjoy the same discounted trading fees. The sub-accounts have their separate API order limits. As a master account holder, you can do the asset-management (transfer funds between master and sub-account or vice versa) from the Binance mobile app too. You can anytime freeze any sub-account. Binance sub-account features

Now that you have understood the functions and benefits of a Binance sub-account let’s learn how to create a sub-account under your Binance account.

How to create a Sub-account under your Binance account?

If you have a corporate account, this feature is enabled by default. However, if yours is an individual account, you need to have VIP level 1 or more to use this feature. If you have been a VIP level 1 or more in the past, this feature will be available for you.

Login to your Binance account, and head over to the dashboard. Here you can find the sub-account feature on the left side of the menu. Click on the option that says “Create Sub-account” Create Binance sub-account

Here you will have two options –

Create sub-account on Binance Create using email – This is useful when you want to give login to another user (An analyst, trader friend or someone) Create using Virtual email – This is useful when you don’t need to share the login. You need to create an API and use that account using 3rd party apps.

In both scenarios, the sub-account users or 3rd party apps will not be able to withdraw the funds.

In this example, I’m using a virtual email to create a sub-account.

Binance sub-account feature

Click on Create Sub Account, and your account is ready to be used.

Binance Sub Account Management

Note: Margin account is activated instantly, and to use it, transfer funds from your master account to your sub-account. To enable Binance’s future account, click on three dots under “Action” and enable the future feature.

Binance Sub Account Asset Management

Click on “Transfer” and from here you can start managing the assets on your sub-accounts. You can transfer funds from Master account to sub-account, or vice versa.

Binance Asset Management

From here on, you can create an API key for your sub-account (Click on API management under Sub account) and manage it using any 3rd party trading terminal or crypto trading bot.

I let you try the rest of the Binance sub-account features by yourself. If you have any questions or feedback regarding sub-account features of Binance, share them with us by commenting below. You can also check out other articles about Binance exchange on CoinSutra to learn more functions and features of Binance.

Here are some of them:

How To Keep Your Binance account safe from hackers How to use Binance Futures Trading for Short and Long Binance Spot Grid bot Trading Strategy (Tutorial)

Based on our community comments on social media and emails from our readers, here are some of the top FAQs related to Binance sub-account functions.

How many sub-accounts can one open on Binance?

Your VIP level governs the number of sub-accounts you can open. This screenshot shows how many sub-accounts are permitted under various VIP level.

Is it allowed to have 2 Binance accounts?

No, Binance does not allow users to have more than one account. However, you can have more accounts using the sub-account feature.

How do I open a second Binance account?

Unfortunately, one user can only have one verified Binance account. You can open a second account under your blood relative name, and the KYC needs to be done by them. Or, you can use the sub-account feature to have multiple Binance accounts under your name.

- Mr. Creatonics
8 Best Crypto Portfolio Tracker Apps of 2023
Do you invest in Bitcoins? Do you hold other crypto coins apart from Bitcoin? Do you invest in Altcoins? Do you invest in Defi? Do you find those not so popular coins and invest in them?

If the answer to any of the questions above is a resounding yes, you must have faced the issue of keeping track of the return from each coin or your existing portfolio valuation. If you are becoming a pro cryptocurrency trader, you also need something better than excel sheets to quickly analyze your cryptocurrency portfolio and take a call on buying/selling.

As far as I’m concerned, I started my journey by using Excel sheets. It was one hell of a task and sometimes quite tiresome, considering the number of entries that would go in. Moreover, since most of the task was manual, I often missed out on good buy/sell time.

After a few months of frustration, I started looking for a solution and that’s when I found about cryptocurrency portfolio management apps. These apps are developed to help seasonal or full-time cryptocurrency investors and traders effectively monitor and manage their portfolios.

Here, I’m sharing some of the best portfolio management apps for cryptocurrency users. You can pick and choose depending on your requirement. However, some of the scenarios to consider:

Someone who has just invested in Bitcoin and needs to see the latest price along with their holding, they can work with any basic app. Someone who has also invested in other cryptocurrencies like Aave, ADA (Cardona), Curve, FTT and others. Someone who has invested and is also actively buying/selling to take out the profit. They are not necessarily day traders but they are actively trading and booking profit instead of long-term holding like many others. Someone who is day trading and needs an extensive chart and signals to make a better decision about when to sell and when to buy.

There are many other scenarios but these are the four major scenarios at large. No matter which one applies to you, these portfolio management apps will help you level up your game and take your cryptocurrency investment to the next level.

So without further delay, let’s go ahead and take a look at some of the best apps that will help you keep a track of your cryptocurrencies portfolio and also the profit and loss from them.

Best Ways to manage and track your Cryptocurrency portfolio: 1. CoinStats

CoinStats is a popular and well-established cryptocurrency portfolio tracker that you should be using in 2023. It has many features and is available as a mobile app (iOS, Android), Mac app, Chrome extension, and web app.

You can connect all popular wallets, exchanges to your CoinStats account, and it will automatically calculate profit and loss for you. Just so you know

You can change portfolio Profit Loss calculation between 4 options

All time lets you calculate profit loss for a coin by considering all of your transactions. Current Holdings calculates your P/L by considering only the holdings which own right now. Last trade calculates your P/L by considering ONLY your last trade. 24 hours profit loss shows your coin balance change during the last 24 hours.

CoinStats supports all major wallets (see screenshot below) and auto-sync is also possible for exchanges account.

Another cool feature of CoinStats is, you can read all the major news related to the coins you are tracking. This alone helps you to stay updated with the projects that you have invested in, and helps to cut the noise.

Here is a video that shows how you can connect your Binance account with CoinStats for tracking your crypto portfolio automatically:

For CoinSutra users, we have a special offer where you can get 3 months of CoinStats pro for free.

Get 3-Month Pro access of CoinStats 2. CoinMarketCap (Free + Mobile app)

CoinMarketCap is a popular crypto market analyzer, and you might have used it once in your journey. Not a lot of people know that CoinMarketCap also offers a crypto portfolio tracking feature.

At the time of writing this resource, they offer manual addition of a coin which you can track, and see the profit/loss. As a free and simple crypto portfolio tracker, CoinMarketCap portfolio tracker is pretty decent.

See the screenshots below to see what you would be seeing:

If you have been using an Excel or Google doc to manage your portfolio, you may find this more intuitive and handy. Adding a buy/sell is easy, and it also has a feature to add notes.

CoinMarketCap mobile app has more functionalities. For example, you can see the total portfolio composition, and see each coin holding in percentage basis.

Overall as a free crypto portfolio tracker, Coinmarketcap is pretty ideal.

Create Account on CoinMarketCap 3. CoinTracking

I wish I knew about CoinTracking earlier, as this is my go-to cryptocurrency portfolio management app these days. I use it along with the Cryptocompare portfolio app. For those buying cryptocurrencies to hold it for months or years, Cryptocompare does a pretty decent job. On the other hand, if you plan to deal with the occasional buying/selling of cryptos (trading), this is the best solution for you.

CoinTracking is available on the web and also offers a mobile app for Android and iOS. CoinTracking is a dedicated website where you not only see your current portfolio balance, but also data that helps you make a better decision in terms of buying/selling your coins at the right time.

Moreover, managing coins on various exchanges could be cumbersome and this app lets you see which coins and how much amount you are holding. Another feature that I really admire about CoinTracking is the realized and unrealized Gain/Loss feature.

Crypto-trading-profit-and-loss-calculator

Millennials may not like the interface as it looks outdated but that’s a tradeoff you need to do regarding functionalities. The best part is, you can connect to all popular exchanges using the API feature and it automatically fetches the new trading data. Apart from saving time, this ensures you are always aware of the coins you have.

Some highlights of CoinTracking:

Import data from existing exchanges such as Binance, Bittrex, Bitfinex and many more Auto-deduct balance when making a trade Add Cryptocurrency as free/gifted Android and iOS app are available as well Free and paid plan Tax calculations

The free plan lets you manage up to 200 trades, and you can upgrade to an unlimited plan by paying a nominal fee in any cryptocurrency of your choice. After trying the free plan for a couple of days, I ended up upgrading to the pro plan and it turned out to be a great decision.

CoinTracking is online since 2013 and the team keeps adding new features as the cryptocurrency industry is going. If you need to pick just one app from this list, look no further than CoinTracking.

Create Account on CoinTracking 4. CryptoCompare Portfolio Cryptocompare Portfolio

Cryptocompare is a popular community for cryptocurrency enthusiasts and they offer a portfolio management app as well. The app is available on web, mobile and they have also integrated it into their mobile app. However, their web interface is pretty solid.

Some of the highlights of the CryptoCompare portfolio app are:

Create multiple portfolios (eg: dream villa or car) Supports all cryptocurrencies Beautiful charts and graphs Option to add notes When adding cryptocurrencies, you can specify where it is stored Free to use (it is in beta stage, so expect a few bugs) Risk analysis (I love this feature) Advanced chart Crypto-asset-management

This app definitely needs a dedicated post to help you understand how it works. However, on this list, this is the best crypto portfolio management app. You can also see the allocation percentage for each coin.

Crypto-Exposure-and-Risk-analysis

Another thing is since everything is in the cloud and under your registered account, you don’t have to worry about losing track of your portfolio. You can access your portfolio anytime from the desktop, mobile browser and they do have a mobile app as well.

However, the mobile app is not as robust as their web interface. You also have an option to make your portfolio public or private and share it with others.

If you have never used a cryptocurrency portfolio app, start with this.

Create Account on CryptoCompare 5. Delta

Delta is a popular alternative to other options simply because they are better in many ways.

However, this doesn’t make others useless but yeah of course it does make them less attractive to new users.

Delta has mobile apps for both Android and iOS versions with more than 2000 coins waiting to be added to your portfolio.

Also, you add BTC, ETH or fiat currencies as your reserve currencies and deduct you period purchase from these reserves to get an overall picture of your portfolio.

Some other cool features of the Delta app are:

Separate portfolio and watchlist walls. Price action alert system for each exchange & all available trading pairs Coin analysis chart, volume, market cap etc. Manage up to 10 different portfolios in the Pro Delta version of the app. Sync data with up to 5 different devices. Completely mobile-based app

Apart from all this their community and development team is very active in developing the Delta app. 

Note: I am using this app’s Pro version for the last 5 days and believe me the UI is the best you can get anywhere. Also, the variety of coins and fiat currencies that they support is simply commendable, plus they are under continuous development & improvement.

Official site Download Android app | Download iOS App 6. Zerion for Defi portfolio tracking

Are you investing in De-fi via Metamask, Rainbow, Argent, or any other decentralized finance-supported wallet? Wondering how you can track your portfolio gain or loss? Well, this is where Zerion comes into the picture.

This tool lets you Manage your DeFi portfolio across multiple accounts in a single place. Some of the popular DeFi wallets supported by Zerion are:

Metamask Coinbase wallet TrustWallet Argent Wallet Walletconnect supported wallet

You can do a lot more than simply managing your portfolio, as Zerion also let you invest in DeFi or borrow fund. As Zerion tagline says “A simple interface to access decentralized finance to invest, earn interest and borrow crypto assets.”.

Check Out Zerion 7. DIY on Google Sheets

You can also DIY a crypto portfolio tracker on Google sheets. Here are two DIY video guides to help you build your own portfolio tracker:

What is a Crypto Portfolio Tracker?

A crypto portfolio tracker is a software that helps you track your entire crypto portfolio. It provides the real-time updates on the profit and loss of your investment in individual crypto. A lot of them offer automatic syncing with exchange, thus making your job of portfolio management easy.

️ What are the Best Crypto Portfolio Trackers?

Following are the best crypto portfolio trackers:
CoinStats
Coinmarketcap
CoinTracking
Cryptocompare
Delta
Zerion
CoinSutra Google Sheet
Accointing

Can I create my own crypto portfolio tracker using Excel?

Yes, you can use CoinMarketCap API or the Coingecko API to create your own DIY portfolio tracker. This could be done on an excel sheet or using a Google sheet.

Are Crypto tracker free?

Most of the crypto tracking apps are free, or you can always DIY your own crypto tracking sheet. You can always upgrade to a paid plan for advanced features such as automatic syncing or real-time updates on your investment.

Which is the Best Cryptocurrency Portfolio Tracker for you? Crypto Tracking AppRatingCoinTracking3.5/5Coinmarketcap4.7/5Cryptocompare Portfolio4/5Delta4.2/5

All the solutions I have listed above have their pros and cons. What will work for you is completely dependent on your style of investing and trading.

If you are someone who has been holding long-term coins and has started trading once in a while on Binance, Bitfinex, Binance futures, ByBit, or any other site, you can’t rely on a simple app. For you, the best app is CoinTracking.

For someone who wants to buy a couple of long-term cryptocurrencies and plans to hold it for months or years to come, you are better off with the Cryptocompare portfolio app.

If I have to pick one for someone who is starting out with the intention of getting serious in the crypto investment and trading, I would recommend CoinTracking. It solves the major headache of taxation and even if you are dealing with 100+ cryptos, it magically shows you your profit and loss.

Moreover, with the kind of data it provides, you can easily do day trading and make a lot of money just by buying/selling when a coin value has grown or decreased. I will talk more about this in a dedicated post in the coming days.

For now, it’s your turn to share which Crypto portfolio and tracking app you use to manage your cryptocurrencies. If you know of something that is working great for you, do let me know the name and features that you like most about the app you are using.

Looking forward to hearing from you. If you know of others who are investing in cryptocurrencies, do share this post with them. Actively monitoring their portfolio will help them to make better decisions in the future and make more money.

Update: I have found CoinStats and CoinTracking working great for me; what is working for you? Do share with us in the comments below.

Do share this post with your network on Twitter & Telegram!

Also, check out:

The 5 Best Automated Cryptocurrency Index Funds (Updated) 10 Best Cryptocurrency Exchanges In The World To Buy Any Altcoins
- Mr. Creatonics
3Commas Hack – What Users Should Do?

Hacks are not uncommon in the world of technology and cryptocurrency. We have published the mega list of top crypto exchange hacks, which shows how massive these kinds of incidents are. What makes a difference after such an incident is how the leadership team handles the impacted accounts and communicates with the world.

Today’s news is for all those users who have been using a popular trading terminal and bot application called 3Commas. It is unfortunate how 3Commas (despite being an industry leader in the category) handled the entire situation. We have reviewed 3Commas here, in case you want to refresh your memory.

In this news article, you will learn what has happened and what you can do about it.

3Commas hack – What happened?

On November 14th, 2022, Binance founder CZ tweeted that the API key from some 3rd party trading platforms like 3Commas and Skyrex has seen unexpected trading, indicating that these platforms might have been compromised.

We seen at least 3 cases of users who shared their API key with 3rd party platforms (Skyrex and 3commas), and seen unexpected trading on their accounts. If you used such a platform before, I highly recommend you to delete your API keys just to be safe. 🙏

— CZ 🔶 Binance (@cz_binance) November 14, 2022

3Commas denied such allegations and hinted that users might have been compromised using a phishing attack. They also ran a campaign to create awareness and educate users.

However, they denied any wrongdoing from their side and lashed out at users and influencers who have been blaming 3Commas for unexpected trading.

Tweet by 3Commas CEO and founder @Yuriy

In the midst of all these, what really baffled many users is that the 3Commas bug bounty prize is only 100 USDT 🤯

Fast forward to 29th December 2022, CZ (Binance founder) again tweeted, confirming the API keys used on 3Commas are compromised.

I am reasonably sure there are wide spread API key leaks from 3Commas. If you have ever put an API key in 3Commas (from any exchange), please disable it immediately.

Stay #SAFU.

— CZ 🔶 Binance (@cz_binance) December 28, 2022

Soon after that, 3Commas official Twitter handle, and CEO/founder also tweeted confirming the hack of 3Commas users’ API, and is applicable for all the exchanges.

1. Statement from 3Commas:

We saw the hacker’s message and can confirm that the data in the files is true. As an immediate action, we have asked that Binance, Kucoin, and other supported exchanges revoke all the keys that were connected to 3Commas.

— Yuriy Sorokin (@YS_3Commas) December 28, 2022

And also this…

What should 3Commas users do?

It is unfortunate for the loyal users of 3Commas how 3Commas handled the case. At the same time, it is equally devastating for users who have lost their money because of 3Comma’s security blunder and 3Commas consistently denying it.

As it is, 2022 was terrible due to the Luna crash and the FTX fiasco; the 3Commas hack was the last thing 100,000+ users would have wanted.

Who is impacted?

Anyone who has used the 3Commas platform for trading on any crypto exchanges supported by 3Commas is impacted. The date of their database hack is still unclear, so to be safe, if you have connected to any exchange via API on 3Commas before 29th December 2022, you should consider yourself impacted.

If you think that you have not given withdrawal permission, then also you are impacted. The hacker will not be able to withdraw funds from your exchange account, but they will trade your cryptocurrencies for small-cap coins and then dump the price of those coins to make a profit. In a nutshell, if you have used 3Commas in the past or using it, you need to take action as mentioned below.

What should you do if you have been a user of 3Commas? Disable/delete the API key associated with 3Commas on your exchange dashboard – Login to your crypto exchange account and delete the API key you created for 3Commas. This is the first thing you should do. Update the API Key – 3Commas lets you update the API key, ensuring you don’t lose access to your past data and statistics. Never re-use the same API Key – Ensure you never re-use an API key to connect with multiple accounts. For example, trading terminals and crypto tax software. Label your API key correctly – While creating your API Key, label it appropriately. This is just a matter of discipline. 3Commas alternatives – Should You Use 3Commas again?

The way 3Commas has handled the entire scenario has shaken the trust of many loyal users. I would not be surprised if you are one of them and looking for an alternative to 3Commas.

Here are some of the best 3Commas alternatives for 2023 which are not hacked:

Bitsgap – You can read the Bitsgap review to learn everything about it. Cryptohopper – Another OG of the crypto trading tool. The interface is not as friendly as 3Commas or Bitsgap, but something many of you might like. Read Cryptohopper review. Pionex – If your purpose is grid bot trading, this could be a decent option. The only problem is they work as an exchange, so your funds have to be deposited on Pionex. Read Pionex’s review.

Personally, I would pick Bitsgap, which has excellent features that you will enjoy.

In the coming days, we will have more clarity on how 3Commas will improve its security infrastructure so that such incidents will never happen. For now, the impacted users are in rage, which is understandable, and hopefully, impacted users will get over this incident like other unfortunate events of 2022.

Related video –

- Mr. Creatonics
9 Best Crypto Derivatives Exchanges in 2023

The best crypto derivatives exchanges:

ExchangeNo. of Perpetual ContractsNo. of Futures Contracts1. Binance137432. Bybit1843. MEXC Global11904. Deribit2595. Bitmex17846. Gate.io149Not Identifiable7. Huobi Global168568. OKX1391336

Derivatives are an essential part of any market, be it a stock market, forex market, or cryptocurrency market. Traders can use various strategies either to speculate or to mitigate their losses through hedging.

In case you want to explore the derivatives market in crypto. You would need an exchange that provides such services. Some of the best cryptocurrency exchanges you already use support derivatives trading. 

Many of these derivative exchanges offer perpetual contracts, meaning your position never expires as long as you are not getting liquidated.

Derivates trading is not new to the crypto market, and many traders make life-changing money with derivative trading. So, we at CoinSutra searched for the most widely used and trusted ones and presented you with our Best Crypto Derivatives Exchanges list.

Let us understand the derivative products of these exchanges.

9 Best Derivatives exchanges for Crypto: 1. Binance – #1 Derivative Crypto Exchange Binance Crypto exchange

Binance is the #1 exchange for derivatives trading and also the most economical. It has the most extensive customer base and trading volume in the global crypto markets.

Binance makes it easier to transfer funds between your spot market account and Derivative account and thus helps you take advantage of arbitrage when there is a price difference between the future market and spot market.

Derivatives products on Binance are categorized as follows:

USD-Margined Futures Contracts 

These are perpetual as well as delivery contracts that are settled in USDT and BUSD.

Coin-Margined Futures Contracts

These are perpetual and delivery contracts that are settled in cryptocurrencies such as BTC, ETH, etc.

Binance Leveraged Tokens

Leveraged tokens allow a user to have increased exposure to a particular crypto asset.

Binance Options

These are European-style vanilla options that can be used either to maximize profits or to limit losses.

Binance has a very reasonable fee for derivatives trading. There is no fee for the deposit of funds on Binance. The trading fee varies from 0.01% to 0.05% of the transaction value. Further, a user can reduce this fee by holding the in-house token of Binance, i.e., BNB. 

The exchange is pretty secure and has a two-factor authentication option for users. And customer support is also excellent. 

Create Derivative Account on Binance 2. Bybit Bybit Crypto Exchange

Bybit is a specialized platform that is dedicated to derivatives markets only. It has been in the market since 2018. 

Derivatives products on Bybit are categorized as follows:

USD Margined Perpetual

These are perpetual contracts that are settled in USDT

Coin Margined Inverse Perpetual 

These are perpetual contracts that are settled in cryptocurrencies such as BTC, ETH, etc.

Coin Margined Inverse Futures

These are delivery contracts that are settled in cryptocurrency, such as BTC, ETH, etc.

Bybit hasn’t been in the crypto market for long. What makes it a good platform is that its primary purpose is to cater for crypto derivatives trading.

The trading fee structure of Bybit is pocket-friendly. It charges 0.075% of the transaction from the market taker but rewards 0.025% of the trade to the market maker.

Bybit’s team claims the platform can process up to 100,000 transactions per second. This makes it powerful for both individual and institutional traders.

For user experience, Bybit is clean. It’s built to appeal to newcomers and veteran traders alike. There are a lot of essential educational resources for newbies to learn trading on the platform. 

Traders can easily access Bybit on any browser or download its mobile app.

Read: Bybit review

Newcomers on Bybit get a bonus of $90.

Join Bybit & Claim $90 Bonus 3. MEXC Global

MEXC Global is an exchange that brings many low-cap gems at their incubation stage. The exchange was established in 2018 in Seychelles, East Africa. The exchange has a presence in more than 200 countries and has served more than 6 million users.

The exchange supports 11 different languages. In derivatives markets, MEXC Global only deals with perpetual contracts. Users are also provided margin on these contracts up to 125x.

The exchange offers both USDT margined as well as Coin margined contracts. The trading fee for perpetual contracts on MEXC Global is 0.02% for makers and 0.06% for takers.

The exchange has a pretty decent user interface, and it also has a mobile application for iOS and Android versions. Please read our full review on MEXC Global.

Create Instant Account on MEXC Futures 4. Deribit Deribit Crypto Exchange

Deribit is another specialized exchange built only for trading crypto futures and options. It started in 2016 and has built a user-friendly platform for derivative traders. 

Deribit is open to traders in over 100 countries. There is no fee for a deposit, and withdrawal is also free up to a certain limit. 

Derivatives products on Deribit are categorized as follows:

Deribit Perpetual

These are perpetual contract which is settled in cryptocurrency.

Deribit Futures

These are delivery contracts that are settled in cryptocurrency.

Deribit Options

These are European-style vanilla options that can be used either to maximize profits or limit losses.

The platform only supports Bitcoin and Ethereum derivatives. Deribit’s interface appeals to a newcomer and serves as a powerful tool for veterans. You can trade via its web portal or download its mobile application in Android and iOS versions. 

Some additional features of Deribit are as follows:

Deribit supports many trading bots and uses cold storage to keep your assets safe. The trading fee charged by Deribit is variable and can be referred to here. Customer support is available 24/7.  Deribit supports English, Korean, Spanish, Russian, Japanese, Chinese, and Turkish. It offers dashboards for trading history, recent trades, and order books.  It also has statistics for futures, indexes, volatility, and technical indicators.

To trade, you need to create an account, make a deposit, and choose either futures or options trading. Their blog has helpful content if you get stuck.

Save 10% on Deribit Forever 5. Bitmex

Bitmex is a popular crypto exchange where you can trade derivatives. It’s been in the game since 2014 and has grown as a good platform for many traders. It is another specialized derivatives exchange.

Derivatives products on Bitmex are categorized as follows:

Perpetual Contracts

These are perpetual contracts that are settled in Bitcoin.

Futures Contracts

These are futures contracts that are settled in Bitcoin.

Further, Bitmex also offers a margin of upto 100x on these contracts. Bitmex offers derivatives products on various tokens such as BTC, ADA, BNB, DOT, DOGE, EOS, ETH, etc. 

The point worth noting is that all these contracts are settled in BTC. Thus, withdrawals, deposits, and transaction fees are all done in BTC.

In total, the platform offers 17 perpetual and 84 futures contracts.

Market takers pay 0.075% per trade, and makers get a 0.025% rebate. This is a refund given to makers for providing liquidity for the platform.

Read: Bitmex review

Some additional features of Bitmex are as follows:

There is a 24/7 customer support For safekeeping, Bitmex stores some of your cryptos on a cold storage  The platform has a feature of two-factor authentication to prevent malicious parties from accessing your account Bitmex-supported languages are English, Japanese, Chinese, Korean, and Russian. Create Free Account on Bitmex 6. Gate.io

Gate.io is an excellent crypto exchange that has gained popularity because of its unique product offerings. It stands tall in the list of best crypto exchanges, and its derivative products are also not short of anything.

The various derivatives products offered by Gate.io are categorized as follows:

Perpetual Contracts

These are perpetual derivative contracts that are settled either in USDT or in BTC.

Futures Contracts

These are delivery contracts that have a fixed expiry date.

Warrants

These are options that can be used either to maximize profits or to limit losses.

The trading fee on Gate.io is as follows:

Type of ContractsMaker feeTaker feePerpetual Contracts-0.025% (Rebate)0.075%Futures ContractsNIL0.04%Options0.02%0.05%

In addition to the above, Gate.io charges a settlement commission of 0.015% on Futures contracts. The platform offers 149 perpetual contracts and various futures contracts.

Create Free Account on Gate.io 7. Huobi Global

Huobi Global is one of the leading crypto exchanges that have huge liquidity. In addition to this, the exchange is good on all security parameters. In addition to essential services such as spot and margin trading, Huobi has a substantial trading volume in the derivatives market.

Huobi offers 168 perpetual contracts and 56 futures contracts.

The derivatives products offered by Huobi can be categorized as follows:

Futures

These are delivery contracts that are settled on a specific date.

Coin Margined Swaps

These are perpetual contracts that are settled in cryptocurrency, such as ETH, BTC, etc.

USDT Margined Swaps

These are perpetual contracts that are settled in USDT.

Options

These are options that can be used either to maximize profits or to limit losses.

The trading fee charged by Huobi for derivatives trading is as follows:

Type of ContractsMaker feeTaker feeUSDT Margined Swaps0.02%0.04%Coin Margined Swaps0.02%0.05%Futures Contracts0.02%0.04%OptionsVariableVariable Create Free Account on Huobi Global 8. OKX OKX

You’ve either used it, heard of it, or seen a different trader use it. OKX is a big name in crypto with support for many assets. It is one of the top exchanges for derivatives trading, according to CoinGecko.

Derivatives products on OKX are categorized as follows:

Perpetual Contracts

These are perpetual contracts that can either be USD margined or Coin Margined. This means that they can either be settled in USD or cryptocurrency.

Futures Contracts

These are futures contracts that can either be USD margined or Coin Margined. This means that they can either be settled in USD or cryptocurrency.

Options

These are European-style vanilla options that can be used either to maximize profits or to limit losses.

OKX exchange offers 139 perpetual and 1336 futures contracts. This huge variety of derivative products makes OKX viable for traders who want to trade in Altcoin derivative products. Further, OKX is one of the most liquid exchanges for derivatives trading.

There is also a beginner knowledge quiz for newcomers going into futures and perpetual swaps. The test is simple, so don’t skip it. OKX wants traders to come into their derivatives market with a little knowledge of how things work. The quiz lets you learn margin calls, swaps, futures, funding, and withdrawal schedules on OKX.

The base trading fee on OKX is as follows:

Type of ContractsMaker feeTaker feePerpetual Contracts0.02%0.05%Futures Contracts0.02%0.05%Options0.02%0.05%

This fee can be reduced once a user attains VIP status.

Another cool part about OKX is that it allows its Customer to pair derivatives trade with fiat currencies. This allows you to make a trade in a currency of your choice. And you won’t have to suffer exchanging from one currency to the other when withdrawing your funds.

In general, OKX is a great place to trade crypto assets.

Create Free Account on OKX Which crypto derivative exchange should you be using?

There are a number of factors that should be considered while deciding the best derivative exchange for you. If you are looking for something simple and powerful, pick Binance or Bybit.

The platform is friendly for beginners and offers paper trading for you to practice derivative trading.

For high liquidity, Bybit is an excellent choice. Although its derivative trading fees are on the higher side, it is one of the oldest in the market and offers high liquidity.

For those looking to trade in more coins, Binance Futures, and MEXC Global are the ideal choices. Unfortunately, all these exchanges are not available for users from the USA, and you can use them only through a VPN.

Over to you:

Let me know which crypto derivative exchange are you using and why? If we like your recommendation, we will include this in our list of top exchanges for crypto derivatives trading.

- Mr. Creatonics
13 Best Cryptocurrency Exchanges to Buy Any Cryptocurrency [2023]

Here is a consolidated list of the best cryptocurrency exchanges with my comments:

Name of the ExchangeCoinSutra CommentsOverall CoinSutra RatingNo. of Trading PairsBinance• It offers a mobile app and the world’s largest exchange.

• If you need to pick only one, this is the best and #1 in 2023.

• It offers max number of crypto pairs, basic and advanced trading.

• A lot of exciting features, including Margin trading, Exchange coin (BNB), and many more9.8/101292Huobi Global• One of the largest exchanges of the crypto market

• High security and great customer support910Changelly• Instantly convert any cryptocurrency to any of your choices.

• Great for instant conversion.8.7/10747Bitfinex• High trading volume and liquidity111Coinbase• A U.S.A. regulated exchange based out of California.9.1/10211Kraken• Based out of the USA, and secure crypto exchange, existing for the last half a decade.346KuCoin• Simple and easy to use

• Many low-cap gems available3251inchexchange• Best decentralized exchange aggregators of the market

• Custody of funds remains with the user474CEX• Simple and easy to use202Bybit• Very popular with high volume.

• Ideal for margin trading.

• Read Bybit review

Slowly and steadily, Bitcoin and altcoins are getting attention from more investors all around the world.

And why not? These cryptocurrencies are time and again proving themselves to be a safe haven against the government’s inflationary policies.

Not only this, but now people have a variety of products to earn substantial passive income on their crypto assets. Moreover, some people make good money by pure speculation with short-term trading (i.e., buy low, sell high).

And for those who are just starting and need answers to some basic questions like:

Where do I buy such cryptocurrencies? What are the best cryptocurrency exchanges? Which crypto exchange is secure and user-friendly?

But before we talk about the best exchanges out there, I need to tell you that it’s not too late to get invested in cryptocurrencies. At the time of this writing, the Bitcoin and altcoin market is at a market cap of $1.18 Trillion. I believe we will cross the $3 Trillion mark in the next year.

So now that you know that you should invest, here’s where you need to go to do that.

Note: This list starts from easy-to-use exchanges and moves towards some of the advanced exchanges.

11 Best Cryptocurrency Exchanges for Trading Cryptocurrency 1. Binance Binance

Binance is the world’s leading cryptocurrency exchange that concluded its ICO on 21st July 2017 and raised $ 15 Million. In addition to being a blazing fast exchange, The platform is designed for traders of all levels, i.e., from a beginner trader to an advanced trader. 

The platform offers an inbuilt wallet which is ideal for storing Bitcoin for a short time. In addition, Binance has an Earn feature to deposit your crypto assets such as Bitcoin or USDT, and earn interest on your holdings.

Since its ICO to date, it has grown tremendously. It has become the leading cryptocurrency exchange globally in trading volume and availability of pairs of a token. It now has over 370+ altcoins listed on it, which are further provided in over 1300 pairs. Additionally, coin listing is increasing with every passing month.

Binance being a centralized exchange has taken a unique take to expand its business and provides a decent discount for day traders if they use BNB coins. BNB is the native currency of this platform, saving money on buying/selling any coin.

Binance is a global exchange that is ideal for everyone and has the highest liquidity. Users from the USA can signup for Binance.us. Use the table below to pick the ideal Binance exchange for your jurisdiction:

Binance GlobalSign up here
(10% trading fees off)For everyone (Users from all countries) except the USABinance USASign up here
(Get $15)For the USA users

Binance’s fee structure is also unique.

It has a 0.1% standard trading fee that is already relatively less than its peers. You can even reduce your fee further if you pay your trading fee in BNB according to the below-shown structure.

Binance Discount Rate

To get started with Binance, you need to register using your email ID and the process is simple & fast. Binance is one of the few exchanges that offer mobile apps for iOS and Android.

Read: Binance Review: Features, Fees in 2023 (Beginner’s Guide)

Being using it for a while, I find it too easy to trade cryptocurrency while on the move. However, you can watch this video to learn how to use its mobile app.

They also have aggressive plans like multi-lingual support, mobile apps for both iOS and Android users, the Binance lending program,  and the Community Coin Per Month, etc for more adoption of their platform.

Binance Mobile App Create Account on Binance 2. Huobi Global Huobi Global

Huobi is an international cryptocurrency exchange that originated in China but now has moved across the world to serve a maximum number of investors. It is based out of Singapore and has been operating in this space successfully for the last five years.

As we speak, it occupies the #2 spot on CoinMarketCap’s list of exchanges by volume and has 973 cryptocurrency pairs. Hence, you will never face liquidity problems on this exchange.

They also have a mobile app for Android and iOS for users who want to trade cryptos on the go.

Their registration process is also pretty simple, so go ahead and do the needful. Oh, and just so you know, the exchange fee is also pretty low. Have fun.

Do read Huobi Exchange Review: Pros and cons

Create Account on Huobi Global 3. Changelly Changelly

Changelly is one of the easiest ways to get ahold of various cryptocurrencies.

Changelly has a proven track record of consistently good products being put out into the crypto space.

One of the best things about Changelly is that you don’t need to go through any lengthy verification or registration process. It is a non-custodial exchange.

Currently, Changelly supports around 199 cryptocurrencies along with fiat pairs such as USD/EUR. It is one of the best and easiest to use crypto exchanges out there. 

When you use Changelly to exchange cryptocurrency, the matching engine connects in real time to some of the best and busiest cryptocurrency exchanges in the market to get you the best price.

Usually, when using Changelly, a crypto-to-crypto exchange takes 2 to 20 minutes.

The amount you see is the amount you get, so you don’t have to worry about any hidden fees or charges.

All you need to buy from Changelly is a VISA/MasterCard (credit/debit card) and a wallet where you want to receive your new coins.

The procedure is very simple.

Head toward Changelly, and follow the on-screen instruction to exchange your coins.

Sign up for Changelly 4. Bitfinex Bitfinex

Bitfinex is another one of the largest and most popular cryptocurrency exchanges out there.

Based out of Hong Kong and operational since 2014, it gives its users the option to trade in 139 cryptocurrencies offered in 320 different trading pairs.

You can trade using USD (with a wire fee of at least $60). Also, users will need to pay a trade fee which varies from 0.1% to 0.2% (details here).

Also, whenever you withdraw or deposit anything, you are charged a certain fee:

On Bitfinex, if you are a pro-trader, you will find advanced trading tools such as limit orders, stop orders, trailing stop, fill or kill, TWAP, and others, along with different market charts.

And whenever you get bored with the web version or want to trade on the go, you can use Bitfinex’s Android and iOS mobile apps.

Create a Free Bitfinex Account 5. Coinbase Coinbase

Coinbase is a U.S.-based crypto exchange that serves a global audience. The exchange offers excellent speed and reliability and is beginner-friendly.

Using Coinbase, you can quickly buy cryptocurrencies and trade at the same time. They have an app for iOS and Android, which gives you the comfort of exchanging cryptocurrencies from anywhere. The wire transfer feature is also available on Coinbase.

The security standard of Coinbase is enterprise-grade, and they have been around for many years. Coinbase is supported in almost all continents (Africa, Asia, Australia, Europe, North America, and South America)

The exchange has listed 72 cryptocurrencies which are offered in 232 different trading pairs. Coinbase also supports popular stablecoins such as DAI and USDC which is an important aspect of any popular cryptocurrency exchange.

Create Free Account on Coinbase 6. Kraken Kraken Crypto Exchange

Kraken is one of the oldest crypto exchanges that has existed for over a decade now. Established in 2011, the exchange offers Bitcoin as well as a number of known altcoins. In total it offers 346 pairs of crypto tokens. Read more detailed review of Kraken.

The exchange has an interactive web version as well as mobile applications for Android and iOS users. The features of the platform can be fully explored by an advanced crypto user. 

Features such as take profit orders, take profit limit orders, etc. are some of the unique features of the platform.

Kraken also offers derivatives products on which margin is available up to 50x. Further, it has options to earn passive income such as staking.

You can use Kraken to deposit and withdraw funds to any bank account globally. In my experience of using Kraken, bank transfers is quick, and support is excellent.

Join Kraken Now 7. KuCoin KuCoin Exchange

KuCoin is another easy and hassle-free cryptocurrency exchange. KuCoin offers many popular and unique coins such as CHR, $KCS, and many others. Just like Binance, they offer a fully functional mobile app for Android and iOS.

To get started with KuCoin, you can deposit any crypto of your choice, ex: BTC, and start trading. I have been using KuCoin for the past two years, and they have constantly been adding extra features.

You can use Kraken to deposit and withdraw funds to any bank account globally. In my experience of using Kraken, bank transfers are quick, and support is excellent.

Overall, Kraken is one secure and trustable exchange that you should check out.

Create Account on KuCoin 8. 1inchexchange 1inch exchange

All the exchanges in my list are centralized exchanges. This means an exchange that has a record of your identity and holds your private keys for you. 

People who specifically want to trade anonymously and to keep custody of their funds should choose a decentralized exchange.

1inchexchange is the best DEX (Decentralized Exchange) aggregator which consolidates prices from various other DEXs and brings the best price for you.

The platform is very secure and provides better liquidity than any other Decentralized Exchange. I would suggest you much try this platform once to have a touch base of the Decentralized Financial eco-system.

Visit 1Inch Exchange 9. CEX CEX Crypto Exchange

CEX.io was established in London, United Kingdom in 2013. Originally the organization was a cloud mining service provider which handled a number of cloud mining pools. In 2015, the organization dropped the mining service business and focussed completely on the exchange services.

In 2017, the exchange was audited by a third-party audit firm which confirms its compliance company’s diligent approach towards crime prevention. In 2019, the company set up its offices in nine US states and has been expanding since then. 

The exchange has 80 different crypto tokens which are offered as 201 different trading pairs.

Features of CEX.io are as follows:

Spot Trading and Margin Trading Derivatives Trading (in form of Contracts for Difference (CFD)) Fiat to crypto transaction for 4 cryptocurrencies (USD, EUR, GBP, RUB) Options to earn passive income through staking and savings Crypto backed loans

In addition to this The exchange also offers a Demo Account for paper trading. The basic trading fee is 0.25% for a taker and 0.16% for a maker. 

The platform is secure and easy to use. Along with an interactive web application, it offers a mobile application for Android and iOS users.

Read a review of CEX.io exchange

Join CEX.io 10. Bybit Bybit Crypto Derivatives Exchange

Bybit is a specialized spot and crypto derivatives market exchange. Established in March 2018, Bybit is one of the fastest growing cryptocurrency exchanges, with more than 3 million registered users.

Further, the exchange offers a margin on the above derivatives upto 100x. In case you are looking for an exchange for spot and derivatives trading, then Bybit is the best bet.

The platform is adding quality and trending coins every other day, and it might become the fastest growing crypto exchange of 2023. It is one of the best crypto exchanges which is secure and easy to use. It has an interactive web application and a mobile application for Android and iOS users.

For beginners, Bybit also has a feature of paper trading.

Read our full review on Bybit here.

Join Bybit (Get $90 bonus) What if a user needs some low market cap gems?

Using the above cryptocurrency exchanges will allow you to buy almost all of the cryptos you could ever want to buy.

However, there are a few more cryptocurrency exchanges that you should have an account with, as there are a few coins that are only available there. It’s a good idea to have an account on most of these, which will save time when you discover a winning coin.

So, here are some bonus exchanges which I am sure you would love.

11. MEXC Global MEXE Global Exchange

MEXC Global (formerly known as MXC) was established in 2018 in Seychelles, East Africa. The exchange has listed 518 coins which are offered as 887 different pairs.

You can use MEXC Global for spot, margin, and derivatives trading. In addition to this MEXC Global provides several features such as ETF (Exchange Traded Funds) Trading, staking, DeFi Farming, etc.

The trading fee on MEXC Global is 0.2% of the transaction value. This fee can be discounted by holding the in-house token of MEXC Exchange i.e. MX Token. 

The benefits of using MEXC Global Exchange are as follows:

The platform has a very user-friendly interface The platform has an interactive mobile app that allows you to trade on the go You can earn passive income through staking and depositing assets in DeFi products

Please read our full review on MEXC Global Exchange here.

Create Account on MEXC 12. AscendEX (BitMax) AscendEX Crypto Exchange

AscendEX (formerly known as BitMax) was established in 2018 in Singapore. Founders George Cao and Ariel Ling have substantial experience in investment banking and traditional stock markets.

The exchange provides the following services:

Spot, Margin, and Futures Trading OTC (over-the-counter) Trading (for bulk purchases) Fiat to crypto purchase Staking (to earn passive income on your crypto assets) DeFi Yield Farming (to earn passive income on your crypto assets)

AscendEX has listed 186 tokens on the platform, which are offered as 299 pairs of tokens. The trading fee of the platform is 0.1% for large-cap tokens and 0.2 for altcoins.

The benefits of using AscendEX are as follows:

Copy-trading feature for futures trading(you can copy trade settings of professional traders) Passive income earning options available (staking and DeFi Yield Farming) The exchange has a user-friendly interface Create Account on AscendEX

So that is it for my list of most reliable cryptocurrency exchanges. Now, with such an information overload there is a need to summarise this information. Let us understand how to choose the best crypto exchange for ourselves.

How to select the best cryptocurrency exchange for you?

Following are the crucial factors you should consider while choosing the best crypto exchange for yourself:

The country you live in

Almost all exchanges have a list of supported countries. Residents outside these jurisdictions should not use these exchanges.

Further, you should also check whether your native fiat currency is supported by that exchange or not. If not, then you need to figure out a way to transfer your funds to this exchange.

Security of funds

Security is the key factor for the sustenance of the whole crypto market. Before choosing an exchange for yourself, you should have an answer to these questions:

Who keeps custody of my funds? Is there any security audit done on the exchange? What was the conclusion? Where are the funds of the exchange kept? Is the place secure enough? Does the exchange has any insurance in case of loss of funds due to a security breach?

Once you have answered the above questions, you will be able to judge the security of the said platform.

Whether it is centralized or decentralized

Centralized exchanges need your personal details before they allow you to trade on their platform. Further, most of these exchanges keep custody of your funds.

This is not the case with a decentralized exchange.

Ease of use

Some exchanges although very good in product offerings have a very complicated user interface. This leads to confusion in understanding the product or method of transactions.

Thus, you should choose an exchange that has an interactive web application and a compatible mobile application.

Liquidity and Trading Volume

If you want to purchase a token, you need to ensure whether people are interested in selling that token on the exchange. Thus, liquidity means the availability and scale of crypto funds on a particular exchange.

For this, you should check the number of trading pairs supported by the platforms and the 24-hour trading volume of the platform.

KYC Rules

KYC stands for Know Your Customer. Almost all the centralized exchanges have a KYC Policy basis that collects information of user and enable them to use the platform.

What you need to check is the type of information collected as well as the time in which verification is done by the exchange.

Trading Fee

On every transaction, a trading fee would be charged by the exchange. This trading fee is a cost to you and thus you should try and choose an exchange with the lowest trading fee.

The reputation of exchange in the market

A crypto exchange is an intermediary between a buyer and a seller. Therefore, you need to ensure that an exchange is legit and does not have a bad reputation in the market.

For this, you should search for any possible scams that an exchange could have been a part of.

Relationship of the exchange with the country’s authorities

Lastly, you should check whether a crypto exchange is in line with the regulations of your country. In case an exchange is banned by the authorities, you should not use that exchange in any case.

Conclusion – Best Crypto Exchanges 2023

Trust me, I have squeezed my 5 years of experience in the crypto markets in this single post. My objective is to bring you the most feasible products of the crypto markets and help you in earning life-changing money.

I will update this post as I find other trustable and feature-rich cryptocurrency exchanges. For now, you can consider joining our Telegram channel to stay updated with all the latest info.

I hope these insights help you in choosing the best cryptocurrency exchange for you to use.&amp;lt;!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}-->

But one word of caution:

Don’t use these exchanges as a wallet to HODL your cryptos. If you are storing cryptocurrencies on these exchanges for a few hours or even a few days for the sake of trading, then it’s probably OK. Otherwise, this is a bad practice.

Large-scale hacks like Mt. Gox can happen at any time. I would strongly recommend you to use the Ledger Nano S or a wallet like Atomic, where you can store a lot of different cryptos and control your private keys.

So now it’s your turn to tell me: Which one of these exchanges do you like the best? Also, what’s another great exchange that I haven’t listed here? Let me hear your thoughts in the comments below!

Here are a few hand-picked articles you should read next:

Investing In Cryptocurrencies 101: A Beginner’s Guide Best Bitcoin Exchanges In The World For Trading Bitcoins Binance Alternatives: Crypto Exchanges Similar To Binance Are any cryptocurrency exchanges regulated

There are a few exchanges that are regulated. For example, CoinbaseCEXCoinmama are regulated.

Which are the best cryptocurrency exchanges?

As mentioned above, the following are the top cryptocurrency exchanges:
1. Binance
2. Huobi Global
3. Changelly
4. Bitfinex
5. Coinbase
6. Kraken
7. KuCoin
8. 1inchexchange
9. CEX
10. Bybit

Which cryptocurrency exchange has the lowest fees

Binance and Bybit offer the lowest fees at this moment.

What is the best Cryptocurrency exchange for beginners?

Changelly or Changenow is the best for those looking for an instant exchange of coins. On the other hand, Binance offers the biggest ecosystem, and the platform is also beginner-friendly.

Which Cryptocurrency exchange has the most coins?

Binance has the maximum number of coins that are of high quality.

Like this post? Don’t forget to share it with the world!

- Mr. Creatonics
8 Best Crypto Margin Trading Exchanges Compared (2023)

The best crypto margin trading exchanges:

ExchangeSpot Trading MarginDerivatives Trading MarginKey Features1. BinanceUp to 20xUp to 20x• Leading crypto exchange
• Highest liquidity in the market2. BybitNot ApplicableUp to 100x• Specialized derivative trading platform3. KrakenUp to 5xUp to 5x• One of the most secure platforms
• A good choice for US residents4. KuCoinUp to 10xUp to 100x• Easy and simple to use
• Offers several unique products.5. BitmexNot ApplicableUp to 100x6. Phemex Not Applicable Up to 100x• Negative Maker fee for derivatives trading
• Several promotional bonuses
• No KYC7. CEX Up to 10xNot Available • Exchange registered with FinCEN
• One of the oldest exchanges in the market

Note: 10x means 10 times. For example, while placing a 10x margin spot trade a user needs to keep $1 as margin and can place the order worth $10. Here the exchange will lend $9.

We all know that cryptocurrency markets are the most volatile market in the world. Therefore, one of the best ways to make money in the crypto sphere is by trading cryptocurrencies.

Usually referred to as day trading, it can be highly risky and rewarding at the same time. To make life changing money through trading, a trader needs to be competent and use different trading methods. 

Margin Trading is the riskiest form of trading. If used correctly, this can become the most profitable method of trading as well.

Just for a head start, margin trading is a form of trading in which you trade with borrowed money. To borrow this money, you need to have some collateral. This method of trading with borrowed money is also known as leverage.

For example, if you have $100 and the exchange allows 10x margin on BTC spot trade. Then in this case you can place an order (both long order or short order) up to worth $1,000. This process of trading more than you can actually afford is known as Margin Trading.

In simple words, it is like borrowing money and investing it in cryptocurrencies.

However, a user must know that in case the market moves in a direction opposite to your position, the exchange can force sale these assets and liquidate your holdings.

Note: Margin trading, in general, is highly risky, crypto margin trading is even riskier. So, it is a strict NO for beginners given veteran traders may also incur huge losses in margin trades.

However, if you are good at regular day trading, you can start trying margins for smaller amounts for crypto trading.

Best Margin Trading Crypto Exchanges

Here is a list of best leverage trading crypto platforms:

1. Binance

Binance is the world’s best cryptocurrency exchange with maximum liquidity, trading volume, and a number of users. Read our full review on Binance here.

The exchange supports margin trading, which a user can understand and execute in a few simple steps. To use Binance margin trading, you need to complete the identity verification (KYC), and your country should not be on the blacklist of Binance country. Currently, residents of the US cannot use the Margin Trading feature of Binance.

In addition to this, the exchange has a Margin Insurance Fund to save its overall liquidity. In case a trader goes bankrupt during margin trading, and his assets are not sufficient to pay off his debts, then the exchange will repay the trader’s debt from this Insurance Fund.

Margin trading can be used for both short as well as long position. The exchange allows a margin of up to 10x on spot trading and up to 100x on derivatives trading. 

The interest rate on borrowed amounts changes frequently and can be referred to here. Further, you may choose to pay margin trading interest in the form of BNB (Binance in-house token), which will save you a further 5% on interest.

Further, as an alternative to margin trading, Binance offers Leveraged Tokens. These tokens allow traders to put on short or leveraged positions without having to margin trade. For instance, a trader who wants to 3x short Bitcoin can simply buy a 3x short Bitcoin leveraged token on Binance.

Leveraged tokens are standard crypto tokens and can be listed on any spot exchange (even those that do not allow margin trading). Further, buying a leveraged token saves an investor from the hassles of maintaining a required margin with the exchange.

Start Margin Trading on Binance (Save 10% forever) 2. Bybit

Bybit is a specialized platform for derivatives trading. The exchange was established in 2018 and has more than 10 million registered users. 

Bybit deals in a number of perpetual as well as futures contracts. The platform has launched a pilot for spot trading which should be available to all users in the near future.

They also offer up to $90 as a free joining bonus, which you can use for margin trading. The fee is one of the cheapest, and it is a no KYC exchange. However, to use a third-party service such as fiat trading, a user would need to get his KYC done on the platform.

Bybit has a significant market depth and liquidity. Therefore, it is an outstanding platform for margin trading.

For margin trading, Bybit offers margins of up to 100x. Further, Bybit has its insurance funds which can be used to recover losses in case a trader goes bankrupt. 

Bybit mobile app is something you would use most of the time for trading. The trading engine is blazing fast and is the fastest-growing margin trading crypto exchange. You can learn more about Bybit in my detailed review of Bybit.

Bybit is easier to use, even for new leverage trading traders. Bybit also offers 24*7 customer support (multi-lingual), which is one of the best. Bybit is based out of Singapore and has offices in multiple countries.

Get $90 Joining Bonus on Bybit 3. Kraken (Margin trading for USA Users)

Based out of San Francisco, Kraken is one of the largest cryptocurrency exchanges in the USA. It is the second-largest exchange (after Coinbase) in terms of trading volume and number of users that caters to the residents of the US. Read detailed Kraken review to learn more about this popular exchange.

Further, despite catering to US residents, Kraken offers a big variety of crypto tokens. Kraken offers margin on the spot as well as derivatives trading. The leverage allowed on these trades is up to 5x.

Currently, the following tokens are supported for Margin Trading on Kraken:

BTCETCXTZDASHETHREPLTCTRXUSDTXRPADALINKXMRBCHEOSUSDC

Kraken has listed eligibility criteria that determine whether a user is available for Margin Trading. You may refer to the same here. Further, the fee structure for margin trading can be referred here.

The trading fee for margin trading is also very reasonable. You can find more information on this here.

Start Margin Trading on Kraken 4. KuCoin

KuCoin is one of those amazing crypto exchanges which offers a wide variety of services and crypto tokens. Most of the low market cap gems can be found on this platform.

Because of an interactive user interface and high platform liquidity, I could not keep this platform from my best-margin trading crypto exchanges list.

KuCoin offers a margin of up to 10x on spot trading and up to 100x on derivatives trading. Further, like Binance and Bybit, Kucoin also offers a number of Leveraged Tokens, which are a better version of margin trading as they do not face the risk of liquidating assets.

The margin trading interest rate on KuCoin changes frequently and can be referred here.

Start Margin Trading On KuCoin 5. BitMEX Bitmex Exchange – Crypto Margin Trading

BitMEX facilitates margin trading for cryptocurrencies and has gained quite a lot of respect in the cryptosphere in a rather short period of time.

The team comprises experienced developers, economists, and high-frequency algorithm traders, which makes it a reliable product. The BitMex is not available for U.S.-based customers, however, you can bypass this using any VPN service.

The registration process on BitMEX is simple as you just need your email to get started, plus, you can also secure your funds using the 2-FA authentication feature that BitMEX provides.

At present, BitMEX offers margin trading for 6 cryptocurrencies out of which Bitcoin margin trades are the most famous. Here is the fee, as well as the leverage schedule for all the cryptocurrencies:

COINSLEVERAGEMAKER FEETAKER FEESETTLEMENT FEEBitcoin (XBT)100x-0.0250%0.0750%0.0500%Bitcoin Cash (BCH)20x-0.0500%0.2500%0.0000%Cardano (ADA)20x-0.0500%0.2500%0.0000%Ethereum (ETH)50x-0.0500%0.2500%0.0000%Litecoin (LTC)33.33x-0.0500%0.2500%0.0000%Ripple (XRP)20x-0.0500%0.2500%0.0000% Read: BitMex review Start Margin Trading On BitMEX 6. Phemex Phemex ExchangePhemex Exchange – Crypto Margin Trading

Phemex is one of the newer crypto exchanges on the list. The platform was established in November 2019 in Singapore by an ex- Morgan Stanley employee, Jack.

The exchange has captured a substantial userbase and trading volume within a short span. This is because of the platform’s promotional bonuses and high leverage. Phemex has more than 5 Million users with an average 24-hour trading volume of approx. $8 Billion.

Further, the exchange does not need customer KYC. Users can simply sign up, deposit assets, and start trading on the platform. However, for non-KYC customers, some services, bonuses, and benefits are not available. Please note that Phemex does not cater to US residents.

The exchange offers leverage up to 100x on derivatives trading. Further, the transaction fee for derivatives is 0.075% for Taker and – 0.025% for a Maker. This means that a Maker would receive a trading fee.

You can read more about the Phemex Fees structure here.

Start Margin Trading On Phemex 7. CEX.io CEX.io ExchangeCEX.io Exchange – Crypto Margin Trading

Founded in 2013 in London, CEX.io is one of the oldest exchanges in the crypto industry. The exchange is registered with FinCEN (Financial Crimes Enforcement Network). Due to this, it applies appropriate KYC (Know Your Customer) and AML (Anti Money Laundering) procedures.

CEX.io offers more than 100 tokens available in more than 200 token pairs. Further, margin trading is available up to 10 times on these tokens.

The exchange is available in most of the states in the USA. However, margin trading service is not available for US residents.

The exchange charges a trading fee of 0.25% from takers and 0.15% from the makers. This reduces further with an increase in your trading volume.

You can refer to the CEX.io Fees Schedule here.

Start Margin Trading On CEX Should I Margin Trade Crypto?

If you understand how margin works in trading, then you can do margin trading. Margin trading could be highly profitable if done right, and at the same time, one could lose capital fast if done without proper risk management.

Can Bitcoin be bought on margin?

Yes, you can buy Bitcoin on margin. All the above leverage exchanges allow you to buy Bitcoin on margin.

Which is the best exchange to short crypto?

These are the two best exchanges for shorting crypto:

Binance
Bybit

Conclusion: Margin Trading Exchanges

So, this was my list of the Best Crypto Margin Trading exchanges out there. You must understand that although all these exchanges are suitable for trading, they are also a honeypot for hackers to attack.

Further, as these exchanges cater to a huge sum of money, this risk increases manifolds in the case of margin or leveraged trading.

Therefore, even if you simply day trade or margin trade, keeping your money on these exchanges should be done cautiously as it is not safe. The above exchanges provide extra security features such as 2-FA authentication, which you should never forget to use.

I shall reiterate that Margin Trading is a highly risky way of trading, and users should use their discretion.

Now it is time to hear from you: Do you trade cryptocurrencies? Do you indulge in margin trading? Where do you trade or margin trade cryptocurrencies?

Please share this article with your network if you find it useful!

Further suggested readings:

9 Best Cryptocurrency Exchanges In The World Best Smartphone Apps For Trading Cryptocurrencies On The Move 3commas Review: Is it Safe? How does 3Commas works?
- Mr. Creatonics
How do you calculate the Risk to Reward Ratio? What is the Risk-Reward Ratio? What is an optimum Risk Reward Ratio?

Investment or trading is a long-term skill. It takes you a few good years to understand the nuances and master them. On the way, you learn several tools and techniques to manage, maintain and grow your portfolio.

Risk Management is one of the most powerful techniques used by pro investors. And one of the most essential tools for Risk Management is the Risk to Reward Ratio. Risk-Reward Ratio is used to decide whether a trade or an investment is worth considering or not.

So, let’s understand more about it, how it is calculated, and how you can use it in your trading or investment strategy.

What is the Risk to Reward Ratio?

The risk-reward ratio compares a potential loss on investment with the potential profit. In simple words, it’s the measure of Risk taken for investment with its corresponding Reward.

Let’s understand this with an example.

A risk-reward ratio of 1:3 means that an investor is willing to risk $1 of investment for the possibility of earning $3. Similarly, a risk-reward ratio of 1:5 implies that the investor is willing to risk $1 of investment to earn $5.

Similarly, traders also use the risk-reward Ratio to decide the trades they want to take or leave.

How to Calculate Risk-Reward Ratio?

The formula for calculating the Risk-Reward Ratio is as follows:

Risk-Reward Ratio = (Possible Loss from the Investment) / (Possible Profit from the Investment)

So, suppose:

You buy BTC for $40,000, You have a Stop Loss of $35,000, You expect BTC to go up to $50,000.

So, in case the price of BTC falls, the stop loss would be triggered, and you would lose $5,000 [$35,000 (Sell Price) – $40,000 (Buy Price)]. Hence, the possible loss from the investment is $5,000.

Further, if the price of BTC rises and reaches $50,000. Then you would gain $10,000 [$50,000 (Sell Price) – $40,000 (Buy Price)]. Hence, the possible profit from the investment is $10,000.

Therefore, the Risk-Reward ratio in this case is 1:2 ($5,000 / $10,000).

How to use Risk-Reward Ratio for Trading / Investment?

There are two types of Risk-Reward Ratios:

Investor’s Risk-Reward Ratio (Expected Risk)

It is the Ratio that an investor is willing to tolerate. Every investment has an inherent risk. This Ratio explains the risk an investor is ready to take to earn the reward on investment. This Ratio can vary from investor to investor.

Investment’s Risk-Reward Ratio (Actual Risk)

This is the actual risk of investment. The above example shows how an actual Risk-Reward ratio is calculated.

So, if the Actual Risk is less than the Expected Risk, the investor would consider investing.

However, if the Actual Risk is less than the Expected Risk, the investor would skip the investment.

Suppose John’s Risk-Reward Ratio is 1:2. He got an investment proposal, and he is contemplating whether to invest or not.

If the investment has a Risk Reward Ratio of 1:1 (greater than 1:2), he should reject the proposal.

However, if the investment has a Risk-Reward Ratio of 1:3 (less than 1:2), he can consider the proposal.

Pros and Cons of the Risk-Reward Ratio 1. The benefit of the Risk-Reward Ratio

The benefit of the Risk-Reward Ratio is that it allows an investor or trader to manage their portfolio risk. A person can safeguard himself from taking too much risk for too low a reward.

However, it has a limitation as well.

2. Limitation of Risk-Reward Ratio

Risk-Reward Ratio cannot be used in isolation. It needs to be used with other tools and techniques to make a successful investment decision.

Several other factors should also be considered, such as:

Current market conditions, Trade timing Stop Loss and Target Profit levels, Technical analysis and many more Conclusion – Risk-Reward Ratio

So, this is how you can calculate Risk-Reward Ratio and incorporate it into your investment strategy. Further, we understand that by learning proper portfolio risk management, you can save yourself from burning hands.

We hope this post is helpful to you. Let us know if you want us to cover more Risk Management tools. Further, let us know your feedback and comments.

Please note that nothing written in the post is a financial advice. Please consult your financial advisor before making any trading or investment decision.

Frequently Asked Questions (FAQ) What is Portfolio Risk Management?

Portfolio Risk Management is a process of measuring and managing the risk of an investment or trading portfolio.

What is the Risk-Reward Ratio?

The Risk-Reward ratio compares a potential loss on investment with the potential profit. In simple words, it’s the measure of Risk taken for investment with its corresponding Reward.

How is the Risk-Reward Ratio calculated?

Risk – Reward Ratio = (Possible Loss from the Investment) / (Possible Profit from the Investment)

How is the Risk-Reward Ration used?

If Actual Risk-Reward Ratio < Expected Risk-Reward Ratio, consider the investment proposal.
However, If the Actual Risk-Reward Ratio > Expected Risk-Reward Ratio, reject the investment proposal.

- Mr. Creatonics
The Downfall of FTX Exchange & What To Expect Next? (Editorial)

Note: This is an excerpt from the newsletter sent to the CoinSutra email subscribers. If you are not yet subscribed to our email or part of the Telegram group, consider joining for updates.

Hi {{ subscriber.first_name }}

The last week in crypto felt like a lifetime. As it is, our investment was crippled due to the bear market, and we all were secretly hoping for a slow recovery.

However, one of the top crypto exchanges, FTX, turned out to be evil and misused users’ funds for their gain and eventually lost all of its users’ funds. It resulted in FTX halting withdrawals, and many innocent investors’ and traders’ funds were stuck in the FTX exchange.

It is impossible to guess if we will ever get the funds back. If you are one of those who lost your funds because of FTX, our love and prayer go to you.

I’m not going deep into why FTX collapsed, as many articles like this and this will help you understand what all went wrong.

I’m here to share some of my notes on how I see the industry, and this is just my understanding, so take it with a pinch of salt.

The Future impact of FTX Exchange Downfall

1. Cascading effect –

One thing is that the worse is not behind us. There will be a cascading effect just months after Luna’s crash. We heard the news about Celsius and Voyager’s platforms falling apart.

Many VC funds and investor/traders pooled funds are stuck, and the news is coming out every other hour of people losing their funds.

*SOFTBANK IS SAID TO EXPECT ABOUT $100 MILLION LOSS ON FTX STAKE: BBG pic.twitter.com/oO9ZKUHOLt

— Investing.com (@Investingcom) November 14, 2022

2. The advocacy for proof of funds –

The entire crypto industry is not rooting for centralized exchanges to share the proof of funds.

Nansen (An independent on-chain analysis report company) has worked with some willing crypto exchanges to publish this page where you can see all the funds’ exchanges hold in real-time.

3. More exchanges could fall –

I would not be surprised if we see more crypto exchanges fall because of this scenario. The best thing you can do is to move your funds to your private wallet.

You can use a hardware wallet like Ledger Nano X, or use the Trust wallet on iPhone. A hardware wallet is the best way to store your investment securely.

Following the collapse of FTX, #Bitcoin investors have been withdrawing coins to self-custody at a historic rate of 106k $BTC/month.

This compares with only three other times:
– Apr 2020
– Nov 2020
– June-July 2022https://t.co/92aYVYU4Yt pic.twitter.com/em7CsDBWUf

— glassnode (@glassnode) November 13, 2022

BREAKING: A potential bank run on https://t.co/SCDLOM8zTW may be in progress.

Nearly 90,000 unique transactions have been processed in the last few hours, suggesting that users are scrambling to get their funds off the exchange 👇#CryptoCom pic.twitter.com/5XRELFgmyC

— The Chainsaw (@chainsawdotcom) November 14, 2022

Huobi’s Hong Kong-listed company announced that $18.1 million in crypto could not be withdrawn on FTX, of which $13.2m was customer assets. Controlling shareholder Li Lin will provide additional unsecured financing of up to $14 million, which will cover client balance sheets.

— Wu Blockchain (@WuBlockchain) November 14, 2022

Crypto exchanges like Binance, Kraken seem safe, but you should keep only those tokens/coins on exchanges, that you are actively trading.

4. Rise of DEX’s –

This new scenario will lead to the rise of decentralized exchanges, and we will see an uptick in the growth of user activities.

Here is the updated chart from DefiLama

Pay special attention to the DeFi projects tokens, which might capture the benefits of the new influx of users.

Some of such projects are (Not investment advice)

UNI AAVE RUNE CAKE

Wallet tokens like