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The current downturn in the crypto market is not yet a reason for irrational pessimism
Cardano/USD, cryptocurrency, Ethereum/USD, cryptocurrency, Bitcoin/USD, cryptocurrency, Terra, cryptocurrency, Avalanche, cryptocurrency, The current downturn in the crypto market is not yet a reason for irrational pessimism After a tough sell-off in the cryptocurrency markets, provoked by the macroeconomic environment and internal problems of stable coins, the main cryptocurrencies are showing recovery today.The predictions of some experts about the fall of the leading crypto currency, Bitcoin, below the level of 25 thousand dollars, did not come true.Large Bitcoin whales, buying up cryptocurrency on the fall, pushed the price above the psychological support of 30 thousand dollars. And although there is extreme fear in the crypto market (10/100), the daily price increase of 8 percent has already restored a significant part of the 7-day drop of almost 30 percent.Ethereum (ETH) is also trading above $2,000 today. However, before a full week of recovery, you will have to make at least two jerks.Popular altcoins from the top ten cryptocurrencies, such as Cardano (ADA), Solana (SOL), Avalanche (AVAX) and Shiba Inu (SHIB), showed impressive daily growth in the range of 20-30 percent.At the same time, TerraUSD (UST), which was recently considered a promising stablecoin, was suspended from trading after a catastrophic collapse on many exchanges. The validators of the network suspended the issue of tokens until the UST stablecoin balance and its provision are restored.The cost of Tether (USDT) has almost reached one dollar ($0.9988 according to CoinMarketCap).The CEO of the Coinbase crypto exchange, Brian Amstrong, in the company's recent profit and loss report for the first quarter of this year, expressed an optimistic assumption that in the next twenty years the crypto economy will grow to about 15 percent of the global gross domestic product (GDP).Amstrong believes that just as most companies use the Internet now, so in twenty years they will use cryptocurrency and blockchain.Coinbase CEO believes that "in young markets, people are irrationally violent. And then in falling markets, people are irrationally ...
Bitcoin (BTC): a negative signal can collapse the cryptocurrency
Cardano/USD, cryptocurrency, Ethereum/USD, cryptocurrency, Bitcoin/USD, cryptocurrency, Terra, cryptocurrency, Bitcoin (BTC): a negative signal can collapse the cryptocurrency Bitcoin has been declining for five weeks in a row.The collapse of Terra added fuel to the fire at the end of the week. The head of the Bitcoin Foundation believes that BTC may crash or reach $1 million.Bitcoin declined by 10.7% over the past week, ending it at about $34,200. Ethereum lost 9.7%, other leading altcoins from the top ten fell from 4% (Cardano) to 18.7% (Terra).The cryptocurrency fear and greed index decreased by 4 points in a week, to 18 and continues to be in a state of "extreme fear". By Monday, the index had dropped to 11 points - the index was at such levels on January 23, followed by an upward reversal of BTC.Bitcoin has been declining for five weeks in a row amid stock market sell-offs due to the tightening of the Fed's monetary policy. BTC has fallen below its 100-week moving average for the first time since the crisis of March 2020, which is an extremely negative signal.Bears are aiming for the lows of the current year just below $33,000, and then the level of $30,000, which buyers fiercely defended last year, may be under attack.The fall of bitcoin at the end of the week occurred against the background of news about the problems of Terra. The cryptocurrency collapsed against the background of the short-term unbinding of the UST stablecoin from the US dollar due to the outflow of assets from the Anchor protocol. Against the background of a decrease in the rate of return on deposits, over 2.2 billion UST were withdrawn from Anchor in less than two days. Skeptics believe that algorithmic stablecoins are unstable in their design, since they do not have dollar collateral.The head of the Bitcoin Foundation, Brock Pierce, said that he observes a situation in the cryptocurrency market similar to the dotcom crisis of the turn of the noughties and therefore diversifies his portfolio into EOS and the NFT market. The billionaire claims that bitcoin will either crash or become very successful, so you should not invest all your money in BTC.The best weekly dynamics was shown by TRON, which added about 29%. On May 5, the algorithmic stablecoin USDD was released and put into circulation on the Tron network. The founder of the project, Justin Sun, announced the highest profitability in the DeFi industry for freezing the stablecoin. The profit from the placement of USDD will be 30% per ...
Bitcoin has soared the most in two months - what's going on?
Cardano/USD, cryptocurrency, Ethereum/USD, cryptocurrency, Bitcoin/USD, cryptocurrency, Binance Coin, cryptocurrency, Bitcoin has soared the most in two months - what\'s going on? Bitcoin jumped to the $40,000 mark on Wednesday, strengthening along with other risky assets.The US Federal Reserve's rate hike did not scare the bulls. After the previous meeting of the regulator in March, BTC rose by 17%.Bitcoin soared by 5.8% on Wednesday, ending the day at about $39,800. Ethereum gained 6.4%, other leading altcoins from the top ten rose from 5.1% (Binance Coin) to 13.9% (Cardano). The total capitalization of the crypto market, according to CoinGecko, increased by 6.2% per day, to $1.90 trillion.Bitcoin on Wednesday rose the most in almost two months against the background of a sharp weakening of the dollar and the growth of stock indices. The US Federal Reserve is expected to raise rates by 0.50%, to 1.00%.After the previous meeting of the regulator in mid-March, BTC rose in price by 17% over the next two weeks. If history repeats, bitcoin could return to the highs of early April around $47,000.According to CoinShares, institutional investors have been withdrawing capital from crypto funds for the fourth week. Net outflow of funds last week amounted to $120 million, while bitcoin funds faced the largest capital outflow since June 2021 ($133 million).The Ministry of Finance of El Salvador said that the issue of bitcoin bonds for $1 billion, which the government announced in the first quarter of the year, has been postponed indefinitely due to the unfavorable situation in the markets.For the first time in the history of Wall Street, Goldman Sachs Bank issued a loan secured by bitcoins to the Coinbase crypto exchange.Bitcoin miners earned $1.16 billion last month, which is 4.3% less than in March.Cryptocurrencies will become an integral part of any investor's portfolio in the next few years, according to the investment company Wisdomtree.One of the oldest private universities in the USA, Bentley, announced that he is ready to work with cryptocurrencies as a means of payment.Equinox, a popular luxury fitness club chain in the United States, announced that the network's gyms in New York have begun accepting cryptocurrencies to pay for an annual ...
Daily forecast for January 17, 2022
EUR/USD, currency, GBP/USD, currency, Litecoin/USD, cryptocurrency, Ethereum/USD, cryptocurrency, Bitcoin/USD, cryptocurrency, Gold, mineral, Dogecoin, cryptocurrency, Shiba Inu, cryptocurrency, Daily forecast for January 17, 2022 Euro/DollarThe euro fell against the dollar, reaching the level of 1.1401. Trading Friday showed a trading range of 1.1480 – 1.1401.The yield on 10-year Treasury bonds stopped at 1.793%.Trading activity increased due to the news background.December showed a decrease in retail sales by 1.9% compared to the previous month, according to the US Department of Commerce. The maximum decline began in February 2021 against the background of rising consumer prices and the spread of a new strain of COVID-19 "omicron". In November, experts predicted sales growth of 0.3%. According to the latest data, sales increased by no more than 0.2%.Last week, the number of Americans who applied for unemployment benefits for the first time increased by 23 thousand. According to the US Department of Labor, this is the highest figure since mid-November 2021.Data on increased inflation in the US did not support the dollar. Experts predict a rise in the base interest rate by the Federal Reserve in March with a probability of 80%.This week, the US dollar may be affected by the volume of construction of new residential real estate, the number of initial applications for unemployment benefits, as well as the dynamics of sales in the secondary housing market.Pound/DollarAccording to the results of the last trading sessions, the pound/dollar exchange rate is held negatively.There is a fixation below the price resistance, at 1.3748. The strong position of the US dollar against other world currencies creates short positions on the pound, which ensures that the currency pair is located mainly in a downward direction.At the moment, the data on the yield of 10-year UK bonds is close to the value of October, and stopped at 1.1450%.At the end of the week, trading activity in the foreign exchange market increased.In the UK, in November 2021, the volume of industrial production increased by 1% compared to October of the same year, when the indicator fell to 0.5%.In December, UK GDP figures increased by 0.9% compared with November's growth of 0.2%.There are risks associated with the strengthening of the US dollar. The media reports on the continuation of active discussions on the topic of tightening monetary policy. The pound/dollar currency pair will show an increase in trading activity.This week in the UK, the following topics will be actively discussed: the average wage level, the unemployment rate, the consumer price index and the volume of retail sales.GoldFriday's trading showed a predominant decline in gold. There are attempts to turn around against the ascending channel and support at the level of $ 1,816 per ounce. Consumer interest in the precious metal decreased slightly compared to the previous month. Trading Friday showed a diverse trading dynamics due to the strengthening of the gas, oil, consumer goods and technology sectors. The market is sensitive to the negative dynamics of the financial, consumer services and industrial sectors.At the close on the New York Stock Exchange, the Dow Jones declined by 0.56%, the S&P 500 index rose by 0.08%.The situation in foreign markets is positive.The media reported a record trade surplus in China in December, and in general for 2021, due to increased exports amid the coronavirus pandemic.According to statistics, in 2021, the trade surplus reached its historical maximum since 1950.Important economic statistics and information on the further reaction of gold are expected to be published this week.The markets will be sensitive to the number of construction permits issued, the volume of construction of new real estate, the number of initial applications for unemployment benefits, the dynamics of sales in the secondary housing market, the index of production activity from the Philadelphia Federal Reserve.CryptocurrenciesAfter reaching a new resistance level around $43820, bitcoin declined moderately. There is a possibility of profit taking after the growth over the past week. The digital currency is held back by support at the level of $ 42456.By the end of Sunday, the capitalization of the cryptocurrency market amounted to 2.06 trillion US dollars, Friday's figures were 2.01.According to media reports, in 2021, the share of bitcoin in cryptocurrency payments decreased to 65%. In 2020, the share of this digital currency accounted for 92%. This happened due to the more frequent use of other digital assets by retail customers and businesses in 2021. The share of Ethereum in 2021 was 15%, and "stablecoins– - 13%. Cryptocurrencies Dogecoin, Shiba Inu and Litecoin accounted for 3%.The more frequent use of "stablecoins" by people and businesses explains their low volatility. The price of this digital currency is less susceptible to a strong decline due to the provision of real ...

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Cryptocurrency is allowed in Cuba. Will it save from an eternal crisis?
Ethereum/USD, cryptocurrency, Bitcoin/USD, cryptocurrency, Cryptocurrency is allowed in Cuba. Will it save from an eternal crisis? On May 16, the Central Bank of Cuba will begin issuing licenses for the use of cryptocurrencies in economic activities. The authorities are going to allow the cryptocurrency because of the consequences of the coronacrisis and US sanctions, which have been destroying the country's economy for 60 years.Cuba is a "passing prize"The first settlements on the island were founded by Spanish colonists in the early 16th century and ruled for almost three centuries. Then the metropolis brought African slaves and began to use the land for sugar cane and tobacco – the "oil" of that time.Cuba received relative freedom only at the end of the 19th century after an uprising of local residents and a long war for independence. Spain lost its influence in the Caribbean region, and the United States took its place. Nominally, the United States developed the economy and industry of Cuba, investing hundreds of millions, and then billions of dollars. In fact, they used it as a semi-colony: troops could enter at any moment, local authorities and production controlled it.Before World War I, about 90% of Cuba's exports were tobacco and sugar. Most of the agricultural territories were given over to them. Products for domestic consumption had to be imported – there were not enough of their own. At the same time, companies from the United States received privileges and imported goods to Cuba without duties.The country's economy suffered severely during the First and Second World Wars: first, the flow of goods from Europe stopped, then pro-American officials banned exports from the Soviet Union. As a result of the crisis, the poor could not get vital things, and the elite lived in comfort and luxury.In 1940, President Fulgencio Batista came to power – later he would be called a puppet of the United States. Under Batista, the capital of Cuba, Havana, became the "Latin American Las Vegas." The business was controlled by American monopolies and mafia clans. Businessmen from the United States owned 90% of the mining industry, 80% of utilities and fuel companies and half of sugar production. Batista received millions in bribes, and America turned a blind eye to numerous crimes: from the organization of brothels to drug and human trafficking.13 years later, a group of revolutionaries led by Fidel Castro rebelled against Batista. Impoverished and intimidated by the authorities, people joined the fight against tyranny. Castro promised to distribute land to peasants, ensure independence from the United States and improve the financial situation of Cubans. The resistance has been active for almost six years. A guerrilla war has begun in Cuba. By 1959, Castro's forces were able to capture the capital, and Batista lost control of the state and fled to the Dominican Republic. At the same time, the former dictator took most of the gold and foreign exchange reserves of the Central Bank of Cuba."Friendship against the USA"The Castro government reformed the economy and nationalized most of the companies owned by Batista supporters. 60% of agricultural land was transferred to peasants, the rest went to the state. The authorities began to control the turnover of currencies and trade. Residents of the United States were forced to pay 100% tax on luxury goods and 25% on minerals.In response, the U.S. government stopped importing oil to Cuba and reduced the sugar trade. An economic war has begun between the countries. Castro continued to nationalize American companies, and the United States imposed an embargo: they stopped trading with the Island of Freedom, and any country that provided assistance to Cuba fell under sanctions.The USSR took advantage of the situation. The Soviets gave the Castro government $100 million in loans at 2.5% per annum. Specialists in geological exploration, builders and the military were brought to Cuba. The USSR provided the new ally with equipment, weapons and agricultural products, and in return received sugar, coffee, minerals and representation in the Caribbean. During the period of active trade with the Union, Cuba's economy grew. In the 80s, the country began to build solar and wind power plants, recycle recyclables. Over 20 years of cooperation, Cuba has turned into an industrial and agrarian power. But its economy continued to depend on its "curse" – cane sugar.At the same time, the United States declared Cuba a "sponsor of terrorism" and tightened the embargo again. However, by this time the diplomats were able to establish trade with Latin American countries. Uruguay, Argentina and Venezuela became new partners."Island of freedom" without UnionCuba's economy began to collapse after 1991. Despite diplomatic ties with Latin American and Caribbean countries, the country was dependent on the Soviet Union and still suffered from US sanctions. When the USSR collapsed, the Castro government had to switch to economy mode: there was nowhere to bring equipment and cheap oil in exchange for local goods. The sugar industry became the basis of the economy again, but tourism began to develop in Cuba in parallel.The United States has adopted additional sanctions. Now foreign companies trading with the "disgraced" country were threatened with restrictions. In Cuba, there was a shortage of food and medicines, interruptions in the supply of fuel and spare parts for equipment. GDP began to decrease. During the three years of the crisis, it has decreased by a third. To compensate for the losses, Cuba was looking for foreign partners and investments. Three free economic zones were organized on the island and part of the trade bans were lifted. The government began to create a socialist economy with elements of market relations. State-owned enterprises have introduced self-financing.The first effect of the reforms in Cuba was felt in 2001. Up to this point, the country's economy was shrinking by an average of 3-7% per year, and after that it began to grow. The country has reduced the state monopoly on foreign trade and began to recognize cooperative, private and mixed forms of ownership. After 2010, the government allowed local entrepreneurs to work and introduced a progressive taxation system. Cuba began to actively trade with countries that were less dependent on America. In particular, Venezuelan President Hugo Chavez supplied up to 53,000 barrels of oil to the island daily, in response Cuba sent teachers, doctors and engineers to the new partner. By 2013, about 100,000 Cubans were working in Venezuela. One of the important sectors for the economy has become "medical internationalism". Local doctors started working all over the world.Hurricanes, COVID and new sanctionsCuba still continues to suffer because of the US blockade. The damage has already exceeded $104 billion. And taking into account the depreciation of the US currency — up to $ 1 trillion. After America imposed sanctions against Venezuela, Cuba's main partner began to have serious problems. They were reflected, among other things, on the Cubans. If earlier it was profitable to work in an oil-rich country, then after the Venezuelan crisis, this market almost closed. In addition, interruptions in oil supplies began.The country's economy was also affected by Hurricanes Dennis and Wilma in 2005, Gustav and Ike in 2008, Sandy in 2012. Each of them disabled infrastructure facilities, destroyed buildings and destroyed crops. The military had to deal with the consequences of natural disasters.Another serious blow was the coronavirus pandemic. Many medical professionals were working abroad when COVID was discovered in Cuba. And local doctors lacked medical equipment: there were many elderly people living in the country who were at risk. Officially, the country has coped with the crisis: it was able to introduce an effective system of protection against coronavirus, developed its own vaccines and started immunization. More than 5 million Cubans have been vaccinated against COVID-19. At the same time, the Cuban economy was in a precarious position: the flow of tourists dried up, and investment declined.Dinner for two for a month's salaryNow the "Island of Freedom" has a single currency – the Cuban peso (CUP). $1 = 23.98 CUP or 70-100 CUP at the "street rate". The authorities ask tourists to exchange American currency for euros in advance – banks do not accept and do not exchange USD.The average salary in Cuba for the last 4 years is about $33-45. At the same time:a kilogram of vegetables, a large loaf of bread or a bottle of water cost $0.5;a dozen eggs – $0.7;a liter of gasoline – $1;payment for communal services – $5-10;unlimited internet – more than $100 per month;dinner for two in a restaurant for tourists – up to $25;economy class car rental - $20;1 sq.m. of housing – from $1,500 to $5,000, in tourist areas – higher.Tourists and journalists who have visited Cuba note that it has become unprofitable to work in local industries. Most people live at the expense of relatives who have gone to work in other countries. It is enough to send $50-100 per month to provide for the family.Cubans themselves believe that the authorities have begun to resemble the "puppet government" of Batista. On the islands, "two parallel Cubes" coexist again: elites and Latin American businessmen live in luxury, and ordinary people are forced to live in shacks or sit on the necks of those who left the "Island of ...
About the trends of 2022
Litecoin/USD, cryptocurrency, Ethereum/USD, cryptocurrency, Bitcoin/USD, cryptocurrency, Pfizer, stock, Moderna, stock, About the trends of 2022 A couple of steps away from the new year, many are trying to predict the direction of market winds over the next year, and maybe several. We have also analyzed promising ideas of stock exchanges, and today we will share them with you. In general, everything promising in the coming year is connected with the healthcare sector. Next, let's talk about the two most promising companies in this segment.NovavaxNovavax company was one of the first to enter the championship in the development and creation of a vaccine, but in this case it is still far from the podium. Does the company have real prospects? Let's talk about this further.At the beginning of the year, many experts argued that it was simply not advisable to get involved in the company's struggle. This was due to the fact that there were already many manufacturers of similar drugs, and there was not enough space for new ones. As a result, the experts' "verdict" turned out to be reckless, and today many are confident that the company's assets are among the most attractive in the coming year.The vaccine was one of the first to be released in Europe. It is based on a protein, which in the future can become an alternative for patients who refuse to be vaccinated by Pfizer and Moderna, developed on the basis of RNA.In the spring of 2021, she presented the results of testing a new vaccine to the world, and in mid-summer, repeated tests were conducted in America. The effectiveness of the drug according to the test results ranges from 89.7% to 90.4%. This high indicator allowed the drug to get into the top three most effective, and the company to become a leader in the world market of manufacturers.Immediately after the publication of the results, it was expected that the company's assets should increase in value, but problems with bureaucratic hitches and permission to use the vaccine on world markets led to the fact that the share price remained in place, and subsequently even declined.Different sources explain this fall in different ways. Some argue that there are no special technological lines for the production of the drug in the United States. Others are sure that the drug simply does not meet the standards established in the state, contains unnecessary impurities that can cause a lot of side effects.Today, the drug is recognized in several countries of the world, including Indonesia, India. The vaccine has the permission of the WHO and the euroregulator, together with the submission of the application, it has received permission in several other countries.Today Novavax is awaiting regulatory approval in many countries around the world, including Australia, Canada, South Korea, and the United Kingdom. To accelerate the production of the drug, the company is sponsored by a number of large-scale organizations, including the Gates Foundation and even the American government.If new strains of coronavirus continue to appear, the disease will be transferred to the category of endemic. That is why vaccination will very soon become a routine procedure, and it is also likely that the demand for combined drugs will grow, which the company is currently testing.It is not enough to be able to treat well, you also need to correctly diagnose diseases. That is why next we will talk about the manufacturer of medical equipment for diagnostics.Thermo Fisher ScientificThermo Fisher Scientific is geographically located in Massachusetts. It is one of the leaders in the production of diagnostic tools and equipment used in laboratory and outpatient settings, as well as consumables. The production of coronavirus vaccines and medicines for this pathology is considered to be an equally significant area of activity of the enterprise. From the beginning of the pandemic to the present time, the demand for the company's products remains at a height, so the company today occupies a leading position in the field of medicine.In the spring of 2021, the International Health Association granted the company a license to produce SARS-CoV-2, a test for detecting covid-19. The volume of revenue received only from anti-weed products today has already amounted to $2.05 billion. With the emergence of new strains of coronavirus, the demand for the company's products will only grow.The TMO quarterly report, released on October 27, turned out to be quite strong. Revenue exceeded last year's figure by 15%, as well as by $ 1.2 billion in monetary terms. In total, it amounted to 37.1 billion dollars. According to forecasts, the amount of revenue will increase by $1 billion, and will amount to $7.7 billion.The forecast for this indicator was $40.5 billion, which shows the excellent position of the enterprise, especially for modern market realities. The growth of the company's asset price index exceeded the S&P 500, and reached 40%. With great probability, we can say that the group's positions will continue to be stable.Another trend of the century is electric carsThe vast majority of major analysts last year warned against acquiring Nio assets. At that moment, no one could have thought that the company's market capitalization could reach $90 billion. The volume of cars produced at the same time is 20 thousand units annually.However, over the past year, the company has managed to become an industry leader, and excellent financial results are expected in 2022. This is despite supply disruptions and other problems associated with the pandemic. The company has several new products that will help it increase its market share in China, and take a strong position on it.In the autumn of 2021, the number of cars produced by the company reached 10,900 units, which indicates an active growth in demand for cars with an engine capacity of more than 130,000 per year. The company is going to release about 600 thousand units of cars by the end of 2022. Nio's management plans to introduce three new electric cars to the world market. If the sales growth of cars remains at the planned indicators, then Nio may well have the opportunity to bypass Tesla by this parameter. At least in the Chinese market.An important advantage of the enterprise is the already launched Battery-as-a-service or BaaS program. It allows you to make a monthly payment, which allows you to change the battery on an electric car in the future or update the battery charge. It will also be possible to buy a car without a battery, rearranging it from old equipment.This system will allow the company to receive high-margin revenue in the long term. In addition, we should expect an increase in customer loyalty to the products. The company's assets showed a 13% growth in 2020, but during 2021 they managed to fall by 44%. Today they are stable at around $30. We are waiting for strong growth.Basic Attention TokenIt is already impossible to imagine the financial world without cryptocurrency. How to choose correctly between all the options – Bitcoin, Litecoin, Ethereum and others, and not be left out? An interesting option is offered by the Basic Attention Token.Over the past six months, investors' attention has been focused on tokens supporting the application. If we take into account that since the beginning of the year, the growth of bitcoin has approached 73%, then this is a minuscule compared to the start of the Siba-anu meme token, which soared to 47000000%. However, the main investment flow today is considered to be directed to a cryptocurrency that provides support for applications.In the large list of tokens, the Basic Attention Token from Brave Software deserves special attention. In particular, the token is especially attractive for investing for a long period. The company is now managed by B. Eich is the founder of Mozilla and JavaScript.Coins are mined using the Brave browser, where they are obtained by viewing advertising content. The web browser provides a high degree of security due to the built-in ad blocker and functions to block the collection of user data. Allows you to personally view ads released by program partners, as well as earn tokens by viewing it.Throughout December, bears dominated the cryptocurrency market, which negatively affected the VAT. As a result, the price of the token fell by 30% from the historical highs seen at the end of autumn. However, Bravo is confident that the price will recover its indicators very ...
Polygon: Why does Ethereum need "second layers"?
Ethereum/USD, cryptocurrency, Polygon: Why does Ethereum need \ The problems with the scalability of Ethereum are known, perhaps, to everyone who is somehow familiar with cryptocurrencies. At the moment, the network is going through a transformation that should allow it to increase its efficiency, but it is difficult to predict when exactly it will end, since this process is extremely complex and responsible. In order not to wait for the weather by the sea, representatives of the crypto community come up with their own ways out of a problematic situation. One of the projects that decided to make life easier for users was Polygon.Polygon is a so-called Layer-2 solution for the Ethereum network. The main component of Polygon is an adapted version of the Plasma protocol, with which a copy of the Ethereum blockchain was created - the child chain. Periodically, the system photographs its condition and transmits the impression to the Ethereum blockchain. This is done so that in case of conflicting transactions, users have the opportunity to "roll back” to an earlier version of Plasma (”checkpoint") stored on the Ethereum network.Polygon consists of three levels. The first is where smart contracts work, connecting the Polygon architecture with Ethereum. At the second level, validators function that transmit PoS network information to Ethereum. At the last level, blocks are formed based on transactions occurring on Plasma. This is where developers can place their applications initially running on Ethereum.Lower fees and faster Polygon transactions led not only to the rapid development of the network, but also contributed to the soaring cost of the native MATIC token. Since the beginning of the year, it has grown by ...
How to gift a cryptocurrency
Litecoin/USD, cryptocurrency, Ethereum/USD, cryptocurrency, Bitcoin/USD, cryptocurrency, How to gift a cryptocurrency What should I give to a person who has everything? The most obvious solution is money. But a more original option is a cryptocurrency: ether, a share of bitcoin or a meme token. You can get a gift remotely, and watching the growth and fall of the crypt will turn into a new hobby.  We tell you what methods of giving exist and which digital currencies to choose as a gift.ContentTo gift a virtual crypto walletTo gift a cold wallet with cryptocurrencyTo gift a voucher for cryptocurrencyDonate cryptocurrency to charityWhich cryptocurrencies to choose as a giftTo gift a virtual crypto walletIf the recipient of the gift already has a cryptocurrency wallet, the issue is solved: it is enough to find out the account number (or by email address) and transfer the necessary amount from their own crypto wallet to the account. Such operations are absolutely legal — individuals in Belarus can buy, sell, exchange, store and send any cryptocurrencies using crypto wallets, exchanges and exchangers. At the same time, the cryptocurrency received as a gift and the income on it is not taxed until 2023.If a friend does not have an account, then you can create a new account, transfer cryptocurrency there and transfer access to it to the recipient.Many popular crypto wallets, for example, exodus or mycelium, do not require an email address when registering — it is easier to transfer such an account, because it is not tied to your personal data. The role of the access key is performed by a code phrase (a mnemonic phrase, a phrase or a seed) — a set of 12-24 words that must be entered in a certain order to gain access to the wallet. This key must be passed to the recipient — for example, to rewrite the phrase in a greeting card.There are three important nuances in this method of giving cryptocurrency:Don't forget to warn the recipient that the passphrase is extremely important. If the owner loses it, he will lose access to the crypto wallet and will not be able to restore it.You cannot change the passphrase or generate a new one for an existing wallet — the text key always remains unchanged. Therefore, in theory, the donor can use it after a while, which creates risks. The best option is to give a friend a temporary wallet (temporary wallet), from which he will transfer money to a personal account. Whether a friend wants to carry out all these manipulations is another question. And it is better to make sure in advance that a person is interested in the crypto market and trading — otherwise the gift is unlikely to please him.Regional restrictions. Many American and European services are not yet available in Belarus, Russia and Ukraine. For example, Coinbase does not officially work in these countries. Sometimes restrictions can be circumvented using a VPN, but the method does not always work. Therefore, you will have to choose from a limited number of services. In Belarus, it will not be possible to buy cryptocurrency without providing personal data, since crypto exchanges are required to verify each client — and this usually requires a passport scan. By the way, you can use not only wallets, but also exchanges for donation — in this case, you give access to an account that already has tokens stored on its account.Read more: What is Bitcoin Core? A simple guideTo gift a cold wallet with cryptocurrencyA cold wallet is a hardware device for storing crypto currency, which is something like a flash drive. This is the safest, but not the most convenient option. If you forget the password or lose the carrier itself, the cryptocurrency will be lost forever. For example, an American Stefan Thomas forgot the password from a flash drive that stores more than 7000 bitcoins, and lost access to crypto accumulations — and this is not the only case. In total, about $140 billion is stored in bitcoin wallets with forgotten passwords.When donating, the risks are about the same as in the case of an electronic wallet. When registering, you will need to create and remember a PIN code-a code and a phrase for restoring access (a phrase for restoring).You can order a wallet only on large marketplaces: the price for the most popular models (for example, Ledger and Trezor) varies from $60 to $260. It depends on how many different accounts the device allows you to have (for example, the Ledger nano c model supports 5-6 accounts, while the Ledger nano x supports up to 100), whether the device has an information display and a battery, whether it supports Bluetooth, and so on. In any case, such a gift will cost more than a virtual wallet with cryptocurrency.Read more: Bitcoin on a flash drive? How to store cryptocurrency correctlyTop hardware wallets for cryptocurrenciesLedger Nano SLedger Nano XTresorTrezor Model TRead more: Crypto wallet: the most important & practical tipsTo gift a voucher for cryptocurrencyA voucher is a kind of gift certificate for the purchase of a crypt. You buy a voucher for a certain amount (for example, 50 euros) and specify the email address of the gift recipient. A special code will be specified in the voucher that will be sent to the post office. The recipient must enter it on the website where the voucher was purchased and specify the wallet address to which the amount in cryptocurrency equivalent to the value of this voucher will be transferred.One of the disadvantages of such a gift is that its recipient will eventually have to deal with the registration of the wallet himself in order to receive cryptocurrency. Also, vouchers are usually available only for the most common cryptocurrencies: Bitcoin, Ethereum, Litecoin. But this is the easiest way to give a cryptocurrency.Where to buy cryptocurrency vouchers:CryptovucherRechargeBit4coinBitnovoCoinsbyDonate cryptocurrency to charityCryptocurrencies can not only be given, but also donated to a charitable foundation. Therefore, if there is a desire to share ether or bitcoin with an NGO or a human rights organization, there are several options:Human Rights FoundationSave the childrenMATTERRainforest FoundationThe Water ProjectTor ProjectAnother option with the support of charity is the creation of an NFT token and its subsequent sale on platforms, for example, Rare. But in this case, you need to create a digital object and find a specialist who knows how to work with NFT platforms. You can attract 500-1000 dollars to Ethereum, even if you do not invest in promotion. And you can transfer the collected money to the fund, if it accepts the crypt, or convert it into fiat and credit it to the organization's account.Read more: What is NFT and why are they worth millions?Which cryptocurrencies to choose as a giftGiving cryptocurrency remotely resembles a long-standing trend in the United States, when people began to give shares of large companies to their loved ones. But the crypto market is not yet so popular among the mass audience. People have heard about it, but they don't quite understand how it works and what principles it works on. With this in mind, even bitcoin is still an unusual and original gift. If you look with an eye to the future, then a good gift option is Ethereum. Another popular project is the Polkado. He has revolutionary prospects and grandiose plans that are being implemented at the same time, which is rare for crypto projects. If a person understands the topic, you can give him an NFT token: for example, a picture or a meme registered as an NFT. But we must be prepared that NFT tokens are very ...
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