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Trading signals and online forecasts

Online trading signals with results in real time on the financial markets from professional traders

The total turnover of bitcoins has reached record levels
The total turnover of bitcoins has reached record levels Bitcoin is trading near the $48,000 resistance level. Ethereum rose to the level of $3,600, and the price of XRP fell to the support of $1.1. The total capitalization of the crypto assets market amounted to $2.18 trillion.Bitcoin's breakthrough of the key resistance is accompanied by a resumption of the interest of large investors, according to blockchain data. According to IntoTheBlock, the total turnover of bitcoins in transactions over $100,000 has reached a record $ 480 billion. In bitcoin, the volume of large transactions has reached a two-year high. Analysts conclude from this that institutional activity in the bitcoin market is gaining momentum. Although each such transaction by itself does not imply the purchase of bitcoin by institutions, together with the stable growth of the exchange rate since the beginning of August and an increase in the balance of large wallets, they can really indicate a resumption of investor interest. Based on these observations and finding bitcoin above the 200-day moving average, analysts conclude that the path of least resistance lies upwards. Jurgen Schaaf, adviser on the development of market infrastructure and payments at the ECB, said that research on the possibilities of the digital euro does not guarantee its launch at all. In the next two years, the European Central Bank will continue to experiment with the digital euro. However, the final decision on the launch of the Central Bank's digital currency will be made if its advantages outweigh the possible risks. Earlier, ECB analysts concluded that central banks need to launch their own digital currencies as soon as possible, otherwise it will be difficult for them to compete with technology giants. In addition, according to Bison Trails, about 80% of central banks are already studying scenarios for using state-owned stablecoins.The forecast assumes a decline in bitcoin to the levels of 47750, 47500 and 47000 dollars. The cost of Ethereum will decrease to the levels of 3550, 3500 and 3400 dollars, and XRP will reach the price values of 1.09, 1.07 and 1.05 ...
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Forex trading. Cryptocurrency forecast for today, September 16, 2021
Forex trading. Cryptocurrency forecast for today, September 16, 2021 The price of bitcoin rose to the level of $48,100. Ethereum reached the $3,500 mark, and XRP reached the price value of $1.12. The total capitalization of the digital currency market has increased to $2.18 trillion.On Tuesday evening, the Ethereum blockchain was attacked. Unknown miners published their own chain of 550 blocks, but the vast majority of nodes rejected them as faulty. Most Ethereum nodes, after determining an incorrect confirmation, rejected alternative blocks. But a small proportion of the nodes on which the Nethermind client is installed switched to a fake chain. However, very soon the length of the main Ethereum chain exceeded the indicator of the alternative one, and customers independently switched to the correct version of the blockchain. At the same time, the hackers were unable to take advantage of the situation in their favor. September 14 was the day of mass attacks and errors in blockchains ― the developers of the Ethereum scaling solution Arbitrum reported about the problems. In addition, the main network of the Solana cryptocurrency did not function for more than 15 hours. The Central Bank of Turkey has begun to develop a platform for testing and subsequent implementation of the digital Turkish lira in the country's existing payment infrastructure. Together with private companies, the Central Bank will work on creating a prototype of a blockchain-based platform, with the help of which research will be conducted on the potential advantages of the digital currency. The Turkish Central Bank announced the completion of testing the proof of concept of the digital lira and the transition to the next stage, which will involve technology partners. If the upcoming testing stage is successful, new participants will be attracted to the platform in the future. In the future, the Central Bank of Turkey plans to conduct tests to determine how effectively the digital lira can be used in payment systems. However, the regulator explained that the final decision on the launch of the state stablecoin has not yet been made, and the results of the initial stage of the pilot project will be known in 2022.The forecast expects a decline in the price of bitcoin to the levels of 48000, 47500 and 47000 dollars. Ethereum will decline to the levels of 3400, 3300 and 3200 dollars, and XRP - to the price values of 1.10, 1.08 and 1.05 ...
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Forex trading. Cryptocurrency forecast for today, September 15, 2021
Forex trading. Cryptocurrency forecast for today, September 15, 2021 Bitcoin rose in price to the level of $46,600. The price of Ethereum strengthened to the level of $3375, and the price of XRP reached $1.08. The total capitalization of the digital currency market was $2.11 trillion.Long-term holders continue to increase their share in the total volume of bitcoins amid renewed market volatility. To separate short-term and long-term holders, Glassnode analysts focused on the 155-day mark. In mid-April, bitcoin was trading around $60,000. In other words, coins purchased after the highs are considered as belonging to short-term investors, and before — to long-term investors. The share of bitcoins in the wallets of long-term investors has reached 79.5%. The indicator was at similar levels in October before the start of the uptrend. In absolute terms, the number of coins in the wallets of long-term holders is now the maximum for the entire existence of bitcoin and is 12.97 million. The peaks of the indicator usually correspond to the late stages of the descending market and foreshadow the beginning of an ascending cycle. Two large cryptocurrency networks immediately failed due to malfunctions this Tuesday. Transactions were not added to the Solana network for more than three hours. A similar problem with resources was already observed a week ago. The fixes were included in a new update that the developers did not have time to release before the failures began. Thus, the network should be stabilized after the patch is installed by the validators. While the situation with Solana was being resolved, problems arose in the Arbitrum network used for scaling Ethereum. According to the blockchain browser, the release of blocks also stopped in the Arbitrum network, but the break was only 5 minutes. The developers have confirmed the troubleshooting, but the reasons for what happened are unknown.The forecast assumes a decline in the price of bitcoin to the levels of 46300, 46000 and 45000 dollars. The price of Ethereum will fall to the supports of $3350, $3325 and $3300, and XRP will fall to the levels of $1.06,1.05 and ...
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Forex trading. Cryptocurrency forecast for today, September 14, 2021
Forex trading. Cryptocurrency forecast for today, September 14, 2021 Bitcoin declined to the level of $44550. Ethereum fell to the level of $3,200, and XRP - to $1.06. The total capitalization of the digital currency market was $2.03 trillion.The Alonzo update was activated in the Cardano project, which for the first time allowed the deployment of Plutus smart contracts in the main network. The Alonzo update will bring long-awaited opportunities due to the integration of scripts into the blockchain. This will allow implementing smart contracts on the network and for the first time using many new scenarios for decentralized applications. At the same time, the developers noted that a lot of time will pass before the mass use of applications. They recalled that the Ethereum blockchain project launched in July 2015, the first application that gained real popularity among users, appeared only after more than two years. Against the background of a successful update, the price of the ADA token fell by more than 10%, from levels around 2.7 to 2.4 dollars. The largest financial holding company in Singapore, DBS Group, will continue to develop trading in crypto assets and plans to double the number of users of the Digital Exchange by the end of the year. The interest of institutional investors in crypto assets continues to grow, and this does not escape the attention of large financial organizations. DBS Digital Exchange is positioned as the only digital exchange in the world supported by banks, offering cryptocurrency trading, asset tokenization and custodial services. In June, DBS Bank issued digital bonds for 15 million Singapore dollars as part of the initial placement of tokens-shares through the Digital Exchange. According to the company's plans, by the end of 2022, at least six share tokens should appear in the exchange's listing, and the number of institutional investors on the site will double-up to 1000 clients. In the next three years, the number of users will grow by 20-30% annually.The forecast expects a further decline in bitcoin to the levels of 44200, 44000 and 43000 dollars. Ethereum will decline to the levels of $ 3150, $ 3100 and $ 3000, and XRP will fall to the price values of $ 1.05, 1.03 and $ ...
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Cryptocurrencies: trading forecast for the week of September 13-19, 2021
Cryptocurrencies: trading forecast for the week of September 13-19, 2021 Bitcoin has slightly decreased in price to the level of $45,400. Ethereum fell to the $3,300 mark, and XRP reached $1.09. The total capitalization of the cryptocurrency market was $2.09 trillion.The average bitcoin hashrate for seven days continues to recover confidently and has already reached the central point between the recent lows and the absolute maximum. On Thursday, the indicator reached 135 hashes per second, which is 50% higher than the July minimum of about 90 EH/s, but still lower by the same amount of the maximum of 180 EH/s, which was set before the start of an active fight against mining in China this summer. One could assume that Chinese miners have already moved half of the equipment, and the hashrate will recover to previous levels by the end of the year, but in reality the situation is more complicated. North American miners who placed pre-orders last year are now starting to receive them. These are new devices that are not connected in any way with the disabled Chinese miners. According to the available sales information, large companies should deliver an average of at least 25,000 devices from the latest lines to large enterprises in North America every month. As a result, thanks to the new equipment, after the migration is completed, the hashrate will be even higher than it was before. Nevertheless, the movement from China is slower than one might have expected. This is due to the lack of space for placing equipment.Bitcoin and Ethereum have not yet exhausted their long-term growth potential, and the second cryptocurrency is more promising in this regard than the first, analysts of the British banking corporation Standard Chartered believe. In a new report, they compare Ethereum with a financial market where a variety of services can develop, including lending, insurance and asset exchange. Bitcoin, in turn, is more like a currency. Thus, the possibilities of using Ethereum are wider, which means that over time it can match bitcoin in terms of capitalization. According to the bank's forecast, in the long term, the cost of bitcoin will be $50000-175000, and the cost of Ethereum will be from $26,000 to $35,000. Ethereum is unlikely to reach these goals before bitcoin rises to the upper limit of the designated range, analysts say.To fulfill the forecast, bitcoin still needs to rise in price by almost 4 times, and Ethereum - by 10 times. And since bitcoin is more like a currency, analysts evaluated it taking into account the capitalization of the payment card market and the potential for servicing people who do not have access to bank accounts. When evaluating Ethereum, they were based on the cost of global banks and payment card service companies. Analysts admit that the forecast for the second cryptocurrency may seem overly optimistic, noting that the current price of the token reflects the relative complexity and uncertainty of the development of the network. In other words, although Ethereum may surpass bitcoin in terms of potential profitability, the risks are also higher. More certainty can be expected with the completion of the transition to Ethereum 2.0. At the same time, the scalability and functionality of the cryptocurrency will increase, analysts say.The forecast for the coming week suggests a decline in bitcoin to the levels of 45200, 45000, 43500, 43000 and 41000 dollars. Ethereum will decline to the levels of 3270, 3250, 3200, 3100 and 3000 dollars, and XRP – to the supports of 1.07, 1.05, 1.03, 1.02 and 1 ...
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Forex trading. Cryptocurrency forecast for today, September 10, 2021
Forex trading. Cryptocurrency forecast for today, September 10, 2021 Bitcoin is trading at the $46,900 mark. Ethereum strengthened to the level of $3,500, and the price of XRP fell to $1.11. The total capitalization of the digital currency market was $2.15 trillion.The US Securities and Exchange Commission has once again postponed a decision on VanEck's application to create a bitcoin-based exchange-traded fund. In the latter case, the deadline was postponed for another 60 days, that is, until November 14. According to the current rules, the SEC can postpone the consideration of such applications only three times, which happened with the VanEck appeal. The company was one of the first to make a proposal to launch a bitcoin ETF during the current cycle, so the timing in its case came earlier. The SEC must complete its consideration of the application before the specified date, since it will not be able to postpone the deadline any further. According to the regulator itself, by this time it is necessary to either approve or reject the proposed changes. In previous times, the SEC postponed the deadline under the pretext of the need to collect additional comments. According to the company Chainalysis, decentralized finance attracts more and more institutional investors. In the second quarter, they took the lead in terms of transaction volumes. Large transactions of institutional investors with a volume of over $10 million accounted for more than 60% of transactions in the field of DeFi. At the same time, in the whole cryptocurrency industry, such transactions take up less than 50%. Thus, large investors are trying to increase profits by participating in DeFi projects. Now they are interested not only in bitcoin-based investment products, but also in other investment opportunities related to cryptocurrencies. Earlier, Chainalysis analysts reported that at the moment the US is the leader in the use of DeFi projects.The forecast expects bitcoin to decline to the levels of 46500, 46000 and 45000 dollars. Ethereum will decline to the levels of 3450, 3400 and 3000 dollars, and XRP - to the price values of 1.10, 1.05 and 1 ...
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Forex trading. Cryptocurrency forecast for today, September 9, 2021
Forex trading. Cryptocurrency forecast for today, September 9, 2021 The price of bitcoin has partially recovered to the level of $46,400. Ethereum reached the level of $3,500, and the price of XRP fell to $1.11. The total capitalization of the digital currency market was $2.09 trillion. The complexity of bitcoin mining during the next two-week recalculation increased by 4.5%, which was the fourth increase in a row. Despite the increasing complexity, bitcoin mining remains highly profitable due to the recent rise in the price of the cryptocurrency, pool representatives say. The price of cryptocurrency is growing faster than the complexity of its production, even taking into account the recent fall. The profitability of bitcoin mining has increased by more than 80% since the market fell in 2019. In addition, the shutdown of Chinese miners has had a positive impact on the results of those who are in other countries and continue to mine cryptocurrency. Another reason for the slowdown in the growth of complexity is the end of the rainy season in the southern part of China. Since some miners continued to mine cryptocurrency secretly, the rate of hashrate recovery exceeded the expectations of operators of many pools. After the collapse, the situation in the cryptocurrency market is gradually stabilizing, and many coins are already regaining their lost positions. The Solana token is the leader in the top ten in terms of recovery rates. From the highs of about $200, Solana lost 35% of the value, but regained some of the losses. As a result, with a capitalization of $51 billion, it was able to rise to the sixth place in the rating of crypto assets, bypassing XRP, which was hit much harder by the adjustment. According to CoinGecko, the growth of the Solan token over the past 30 days is over 350%. Simultaneously with the increase in value, Solana shows an increase in activity in applications related to decentralized finance and non-interchangeable tokens.Our forecast assumes a decline in the price of bitcoin to the levels of 46200, 46000 and 45000 dollars. Ethereum will decline to the levels of 3450, 3400 and 3300 dollars, and XRP - to the price values of 1.10, 1.05 and 1 ...
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Forex trading. Cryptocurrency forecast for today, September 8, 2021
Forex trading. Cryptocurrency forecast for today, September 8, 2021 On Tuesday, bitcoin sank to the support level of $46,500. Ethereum declined to the price value of $3,400, and XRP fell to $1.07. The total capitalization of the digital currency market sank to $2.06 trillion.The bitcoin exchange rate decreased by 13% during the day. The total volume of liquidations on the futures market reached $3 billion. The sale took place mainly in the derivatives market. According to analysts, this is typical for most such collapses. What is atypical is the lack of prerequisites for such a rapid price reduction. Almost all digital assets from the top 10 by market capitalization, with the exception of Solana, were in the red zone. The price of some cryptocurrencies has decreased by more than 20%. Due to the sale in the markets, the average commission in the Ethereum network at the moment reached $48. Some cryptocurrency exchanges could not cope with the hype, and their users experienced certain problems with operations. Meanwhile, the demand of institutional investors for altcoins has reached record levels. According to the latest report by CoinShares, the share of capital in crypto funds that are not related to bitcoin reached 35% last week. This value corresponds to the previous May maximum. In addition, almost 40% of the capital received by crypto funds during the week was sent to altcoins. Investors increased their investments in digital assets for the third week in a row. And the volume of investments itself has also grown. The most popular funds after bitcoin were Ethereum funds. At the same time, investments in Solan blockchain funds increased by 388%. In total, according to CoinShares estimates, $62.5 billion is now concentrated in crypto funds. The indicator is gradually returning to the highs set in May around 66 billion. Grayscale funds remain the leader among investment products based on cryptocurrencies with a share of 73%.The forecast expects a further decline in the price of bitcoin to the levels of 46200, 46000 and 45000 dollars. Ethereum will decline to the levels of 3350, 3300 and 3200 dollars, and XRP - to the price values of 1.05, 1.02 and 1 ...
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How to gift a 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.Top hardware wallets for cryptocurrenciesLedger Nano SLedger Nano X TresorTrezor Model T Read 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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Overview of the Huobi Global Exchange
Overview of the Huobi Global Exchange Brief description of Huobi GlobalFounded in 2013, the Huobi Global Exchange is a centralized platform. According to the Coingecko resource, the exchange has an average (8) reliability rating. As of September 2021, 0 cryptocurrencies are traded on the exchange, the most active trading pair is ETH/USDT. The maximum trading volume for the last 30 days was reached on August 7 in the amount of 161,756 BTC.Verification: OptionalTelegram /huobiglobalofficialFaceBook /huobiglobalofficialTwitter /HuobiGlobalDetailed review of the Huobi Global ExchangeHuobi is a cryptocurrency exchange founded in China in 2013. It is registered in the Seychelles. Link to the official website of the exchange — Huobi.com. It provides opportunities for spot, margin, futures (perpetual contracts, options) and OTC trading. Confidently enters the top-3 in terms of trading volume (turnover-over two billion dollars in 24 hours). It exists both in the web version, and in the form of desktop and mobile applications.Read more: What are futures: types, features, advantages and risksWe offer a detailed overview of the functionality of the Huobi exchange, its advantages and disadvantages.ContentGeneral descriptionTeamFunctionalHow to trade on HuobiVerificationHow to trade on the Huobi exchangeMoney managementHT Token - description of the cryptocurrency from HuobiHuobi WalletHuobi Input and OutputCommissionsSafetyTech. Huobi supportComparison with other top exchangesAPI HuobiHuobi ReviewsAdvantages and disadvantagesConclusionGeneral descriptionRegistration on the platform is available to users from more than 130 countries of the world - wherever transactions with cryptocurrencies are not prohibited by law. Huobi is a multilingual platform that supports such languages as Chinese, English, French; German, Turkish, Portuguese, Spanish.TeamThe founder and CEO of the Huobi Group is Leon Lee. Previously, he worked as a computer engineer at Oracle. He graduated from the Department of Automation of Tsinghua University and became a successful entrepreneur in the field of financial technologies.Other team members:The Chief Operating Officer (COO) is Robin Zhu. He has experience in the field of corporate governance and practical data analysis. He also worked at Oracle at one time. Initially, he was deeply interested in the blockchain industry and Big Data.The head of the Security Department (CSO) is Simon Wu. He is responsible for risk management, previously worked in international consulting firms and government agencies, dealing with business security and management issues.The technical director is Roy Zhu. He was a technical expert at Alibaba, a partner and senior vice president of Jinshan Cloud, and also held a management position at Taobao. Is responsible for the research and development of new functionality.FunctionalHow to trade on HuobiThe Huobi exchange is designed to manage cryptocurrency assets in the following ways:Spot trading. Trading with instant settlement, when funds are transferred between the buyer and the seller here and now, based on the current market value of the asset.Futures trading. Trading contracts containing information about the value of the currency and the time of sale. By entering into such a contract, the buyer and the seller undertake to transfer funds at a specific rate and at a specific time. An effective tool for hedging risks.Margin trading. Trading with leverage — the user takes a certain amount of credit funds secured by the assets available to him and thereby can use a larger amount in trading than he has. This increases the potential profit, but also the risks. The available leverage level is individual for each currency.OTC. A P2P exchange platform that connects fiat money and digital assets. It is intended for institutional investors who make large transactions and want to do it completely in the legal field.The index is HB10. It includes 10 top cryptocurrencies, works in conjunction with an investment product that helps to invest funds in the entire basket of promising assets at once.Fiat. Quick purchase or sale of cryptocurrency for fiat money. Supported payment methods: VISA/Mastercard bank cards, Western Union, e-wallets.Huobi Global currently works with 286 coins (770 trading pairs).Read more: P2P: where peer-to-peer networks are usedVerificationTo start trading, you do not need to verify your identity, but you can pass it to expand the withdrawal limits and get access to additional functions. Go to the "Verification" section and enter the necessary information — passport or driver's license number, first name, last name, upload a scanned passport in JPG or PNG.Verification on the exchange is not required, but it gives additional advantages when using the platformThe information is manually confirmed by the exchange's employees, usually it takes no more than two days.How to trade on the Huobi exchangeLet's look at how to trade cryptocurrencies and tokens using the Huobi platform.In the central part of the screen, under the chart, there is a section for creating buy or sell orders. Huobi supports the following main types of orders:Market. The user specifies only the desired amount of cryptocurrency. The transaction is made instantly and at the market price that is at that moment.Limit. The user specifies both the amount and the cost of the cryptocurrency. As soon as a counteroffer appears, the order is automatically executed. All created limit orders are located in the so-called glass (or orderbook).Stop limit. A subspecies of a limit order. While a regular limit order is executed when the specified price is reached or better, the stop limit is executed at the specified price or worse.Trigger-an order (by limit or by market).Advanced tool-creates an order that is executed automatically immediately after the execution of another order. In the right part of the trading terminal interface, there is a history of all completed orders — date, volume and price. And at the very bottom — information about active and completed transactions of a particular trader.Money managementHuobi Global includes a number of opportunities for managing funds for investors. After entering the exchange, the following tools are available:Blocking and mining HT. Holders of the exchange token (HT) can participate in the airdrop. To do this, they need to block at least 100 HT on their account for a period of 7 to 90 days. After the expiration of the period, a bonus is awarded in the form of a certain amount of Huobi Pool Token (HPT).Landing page. Investment of USDT or BTC at interest for 10, 20, 30 days. The interest rate can be entered manually (from 0.01 to 0.09% per day) or set the optimal one. Other users then select suitable options from the entire pool of available offers.Storage of assets. Professional asset storage services for companies and institutions. Clearing and detailed reports are included in the price.Asset management. A digital asset service platform for professional users. There is a choice of three investment strategies with different levels of risk and profitability.Savings (available only after verification). A deposit account with an interest income. The interest is periodically adjusted, at the moment it is 7.28% per annum for USDT and 3.5% for BTC.A new Pool Savings section was also recently opened. This is a tool for working with DeFi tokens. It includes profitable farming of new and promising tokens.HT Token - description of the cryptocurrency from HuobiHT is a token, a cryptocurrency officially launched by the Huobi exchange in 2018. Functional purpose and why it is needed:Discounts from 10% to 95.15% on trading fees (depending on the number of tokens held).Participation in events and events held by Huobi.Farming of the HPT token.VIP status.Use as a guaranteed asset with a cross-margin.Deflationary burning scheme to maintain the value of the asset:Asset allocation schemeToday, there are HT holders in more than 180 countries around the world. It is traded, in addition to Huobi, on the Bibox, Bitforex, Coinsbit, HitBTC, MXC, etc. exchanges.Huobi WalletThe universal multi-currency wallet from Huobi Global can be downloaded from the links:For Android - https://play.google.com/store/apps/details?id=com.huobionchainwallet.gpFor iOS - https://itunes.apple.com/cn/app/id1433883012?mt=8The application supports most major cryptocurrencies (BTC,ETH, XRP, LTC, BCH, etc.), stablecoins (USDT, USDC, TUSD, DAI, PAX), most tokens on the Ethereum, Ontology, TRON, EOS blockchains.The main features of the crypto wallet include independent management of private keys, personal control over assets, data encryption, support for multi-signature and the ability to organize joint asset management. The simple interface allows you to perform operations in one click.Read more: What are Stablecoins and how do they differ from other cryptocurrenciesHuobi Input and OutputTo deposit funds to the Huobi Global exchange, you need to go to the Currency Account section, select the cryptocurrency of interest, for example, Bitcoin, and click Deposit.Copy the address and transfer the cryptocurrency to it from an external wallet (you can use a QR code for a quick transfer from a mobile application).The funds are credited to the exchange account after one confirmation by the miners, and after two confirmations they will be available for withdrawal.The minimum deposit amount is 0.001 BTC. The deposit address does not change every time, but only sometimes, the exchange notifies about this by email.To withdraw cryptocurrency, you need to go to the same section, but this time select the Withdraw button.Specify the address to which the coins should be transferred, and the required amount. The commission is indicated in the same window and covers the transaction costs, providing a quick transfer.The minimum withdrawal amount is also 0.001 BTC.Read more When Bitcoin appeared: telling the story of BTCCommissionsType of operation Commission feeSpot trading 0.2% maker and 0.2% takerMargin interest 0.098%OTC trades 0.1-0.2% maker (depending on the currency), 0% takerContract trades 0.02% maker, 0.04% takerEntry without commissionThe withdrawal is individual for each coin, indicated at the time of withdrawal (for example, for BTC — 0.0005 BTC).The table shows the standard indicators. Holders of HT tokens can reduce them. With a deduction, the fees look like this:SafetyThe Huobi exchange uses cold wallets, secure connection and data encryption to protect user funds. In addition, the user can independently increase the security level of the account if he performs the following actions:It will enable two-factor authentication — a simple and effective way to confirm login using the Google Authenticator application.It will link the phone number and confirm the email address.Associates accounts in other networks (Google, Facebook, Apple) with the Huobi account.It will set a complex password and an anti-phishing code.Read more: Network security. 2FA - two-factor identification methodsTech. Huobi supportYou can contact Huobi technical support via an online chat on the website. Other contacts and social networks of the project:Telegram https://t.me/huobiglobalofficialFacebook https://www.facebook.com/huobiglobalofficialTwitter https://twitter.com/HuobiGlobalBlog on Medium https://medium.com/@huobiglobalInstargam https://www.instagram.com/huobiglobalofficial/YouTube https://www.youtube.com/HuobiGlobalAPI HuobiThe Huobi Exchange provides documentation for developers (API) for free. It can be found at https://huobiapi.github.io/docs/spot/v1/en/#change-logIn the top menu, you can switch to another type of trading (spot, futures, options, margin swaps). Information on all categories is constantly updated. The developer can subscribe to email notifications to keep everyone up to date with the latest changes.Huobi ReviewsThe site has both positive and negative reviews, there are about the same number of them. Users complain about high commissions, problems with the NEM cryptocurrency, as well as insufficient functionality — despite the fact that the platform keeps up with the times and regularly introduces new features, it is not yet possible to work only with it without resorting to the help of other large trading platforms.Nevertheless, trading volumes show that most users consider the platform to be the best option for exchanging certain currency pairs (the most popular is BTC/USDT).Advantages and disadvantagesAdvantages:The exchange is in the top in terms of trading volume and liquidityOwn functional tokenDeveloping functionalityPositive feedbackOptional verificationA large selection of trading pairsMobile and desktop walletsReferral programDisadvantages:Some functionality has been cut for popular cryptocurrencies. For example Bitcoin and USDTConclusionThe Huobi cryptocurrency exchange is actively developing and tracking current trends, such as earnings on DeFi tokens. A strong team, the introduction of new options, adequate commissions-all this speaks in favor of the site and adds respectability to it. Now there is such a time in the cryptosphere that it is impossible to keep up with trends, otherwise the project will instantly lose part of the market.Read more: What is decentralized finance ...
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The illusion of money. Top 5 largest cryptocurrency thefts in history
The illusion of money. Top 5 largest cryptocurrency thefts in history The alleged theft of cryptocurrency on the Africrypt platform has become the most expensive in history. Any hacking of the exchange negatively affects the value of the cryptocurrency, but hackers arrange attacks not only for the sake of stealing money. Many thus reduce its course. Fierce competition in the market over time only increases the likelihood of such hacks. We calculated how much the most expensive hacks in history cost investors.Binance: $40 millionHacking Binance — the most popular exchange in 2019 cost 7 thousand bitcoins. At the time of the hack, it cost about $40 million. "We discovered a major security breach today, May 7, 2019, at 17: 15: 24. Hackers managed to obtain a large number of user API keys, 2FA codes and, possibly, other information," the report says.The exchange announced that hackers used various methods, including phishing, viruses and other attacks. "During the hacking, hackers were able to gain access to the "hot" Binance wallet, which, at the time of the attack, had about 2% of the funds. In just 44 transactions, the attackers managed to withdraw 7074 BTC, " said Changpeng Zhao, CEO of the exchange. By "other information", the company meant the theft of personal data of customers, which negatively affected the trust in the platform.The exchange announced that it will cover all the lost funds from its funds, and no user will be affected by this hacking. Binance representatives reported that the losses will be covered at the expense of the previously created SAFU fund (user asset Security fund). Previously, 10% of the platform's commission fees were sent to his address.Nicehash: $80 millionOne of the largest thefts can be called the story of the Slovenian company Nicehash, which occurred in 2017. In fact, Nicehash is not an exchange — it is a cryptocurrency miner with an integrated market. Users leased their computing power to those who mined cryptocurrency without investing in equipment. Hackers could easily get new coins.Nicehash has published an official comment: "It is important to note that our payment system was hacked, and the contents of the NiceHash bitcoin wallet were emptied. We are working to verify the exact number of stolen BTC. It is clear that this is a matter of deep concern, and we are working hard to correct this in the coming days. In addition to conducting our own investigation, the incident was reported to the relevant law enforcement agencies, and we are cooperating with them as a matter of urgency."As a result of the investigation, it turned out that hackers stole 4,700 bitcoins, which is approximately $80 million. The company announced the return of 60% of the stolen coins, and in 2019 it froze the payment program for victims of hacking. NiceHash claimed that it reimburses users for funds received from commissions, thereby reducing the platform's profit, and promised to resume refunds in the future.Mt.Gox: $390 millionAnother Japanese exchange, Mt.Gox, suffered in 2013. At that time, the platform handled 70% of all global bitcoin traffic. For unclear reasons, bitcoins worth about $390 million went missing. It turned out that for two years the hacker stole bitcoins from users ' wallets, but the platform recognized the expenses as deposits and charged some users up to 40 thousand additional bitcoins.After that, the head of the exchange, Mark Karpeles, announced that he was resigning from the board of the Bitcoin Foundation. At the same time, an official document of the administration leaked to the network, which showed the deplorable state of the platform. It followed from the text that unknown attackers stole about 744 thousand bitcoins, and the exchange administration is not able to pay off its users, since the stolen amount is huge. Karpeles was arrested and charged with embezzlement.In February 2014, it declared bankruptcy, when the company's debt reached $63.6 million, and the number of creditors exceeded 127 thousand people. In addition, it turned out that the platform itself was affected - 120 thousand of its own bitcoins were stolen from the exchange. At that time, experts predicted the collapse of the entire cryptosphere, since the theft affected approximately 6% of the issue of all bitcoins in circulation.CoinCheck: $533 millionAnother major hack occurred in CoinCheck - on the leading Japanese cryptocurrency platform. In January 2018, hackers outside the country infected the exchange's internal network with a virus that was transmitted by email. This allowed attackers to steal users ' private keys. As a result, 523 million NEM coins worth $533 million were stolen.This amount was in a cold wallet, which is safer from possible attacks or theft than hot wallets. The company itself has acknowledged problems and failures in the management of the cold portfolio: the theft occurred due to the neglect of the storage of this cryptocurrency. The CoinCheck exchange did not use smart contracts with multiple signatures, so all coins were stored on the same wallet.However, such a large theft did not lead to the collapse of the cryptocurrency market. CoinCheck does not have such a systemic importance as Mt.Gox and other exchanges had at the dawn of the crypto market development. Its total value at the time of the theft was less than 0.25% of the value of the entire cryptocurrency, and the options for buying and selling crypto assets are very different today. The quick reaction of CoinCheck allowed to reassure investors, who were reimbursed in full.Africrypt: $3.6 billionThe founders of the investment platform Africrypt, two brothers Amir and Race Keiji are suspected of stealing about 69 thousand bitcoins, which is equivalent to $3.6 billion at the current exchange rate. In April 2021, they announced that the platform had been hacked and the funds stolen. Users were asked not to contact law enforcement agencies, because, according to Amir, this would make it difficult to return the cryptocurrency.However, the investors did not listen to the advice and turned to the law firm Hanekom Attorneys, which initiated an investigation. It turned out that the employees of Africrypt lost access to the site a week before the founders announced the hacking of the platform. Now the case is being investigated by the South African police, law enforcement officers have contacted crypto exchanges to prevent attackers from selling the stolen cryptocurrency.It will not be easy to track it, since special services that confuse transactions were used when sending bitcoins. The site of the site is currently unavailable. Africrypt was launched in 2019, the Keiji brothers promised investors high profits - a huge yield of up to 10% per day. According to Bloomberg, this story can become the largest scam in the field of cryptocurrencies, if the fact of theft is confirmed. Now the court has temporarily liquidated the brothers ' company, they have been given until July 19, 2021 to respond to the court ...
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WhiteBit Exchange - registration, commissions. Overview of 2021
WhiteBit Exchange - registration, commissions. Overview of 2021 WhiteBit is one of the few relatively new cryptocurrency exchanges that has won the trust of traders and at the same time offers high-quality services. A distinctive feature of the platform is that it offers not only modern tools for making money on cryptocurrencies, but also opportunities for hedging risks.In this review, we will take a detailed look at what the WhiteBit cryptocurrency exchange is, what its advantages and disadvantages are, what the reviews of 2021 say, and we will conclude whether it is worth considering it as a tool for earning money on the cryptocurrency market.  What is WhiteBit?Exchange interfaceRegistration on WhiteBitVerification on WhiteBitHow to trade on WhiteBitTrading interfaceMargin trading on WhiteBitCryptocurrencies and ordersDeposit and withdrawal of fundsDepositing fundsWithdrawal of fundsCommissionsAdditional featuresSMART-stakingTrading tournamentsReferral programWhiteBit codesSafetyTwo-factor Authentication (2FA)Anti-PhishingSupport ServiceAdvantages and disadvantagesAdvantagesDisadvantagesWhat is WhiteBit?WhiteBit is a cryptocurrency exchange founded in 2018. It is registered in Estonia and has a license from the European regulator. It offers trading in 137 pairs, both for fiat and cryptocurrencies, margin trading is also available.The platform's mission is to build a simple and secure platform that will expand the recognition and application of blockchain technology. According to the exchange, more than 300,000 users from 190 countries of the world are registered on the site.Verification on the WhiteBit exchange is not mandatory, however, without passing KYC, you can use the platform only in a limited mode. In particular, operations with fiat will be unavailable, and this is one of the significant advantages of the exchange.Read more: What is KYC & the registration procedure on the cryptocurrency exchangeExchange interfaceAt first glance, the interface of the WhiteBit exchange may seem complicated, but in fact, its initial development will take no more than a few minutes. In the header of the site there are links to the basic functions of the site:Trading is the main function of the platform, which allows you to earn money on speculation with the cryptocurrency exchange rate.There are four sections available in the tab:Basic - trading in the basic interface on the spot market;Spot - trading on the spot market in an advanced interface;Margin - trading with leverage;Exchange - the ability to quickly exchange one asset for another (the funds must be on the platform's account).Smart staking — earning on staking your deposit. Interest on investments is immediately credited to the exchange account.AML - a form for sending a verification request.  Cryptobazar is a p2p platform for buying and selling cryptocurrencies, it works on the principle of LocalBitcoins.Read more: P2P: where peer-to-peer networks are usedTournament  is a trading tournament in which you can win a prize pool in a certain token.DEX is a decentralized WhiteSwap bank that allows you to earn on liquidity, vote for decision-making and trade without KYC and centralization.Help — contact the support service and the F. A. Q., which contains answers to basic questions.More — additional functions that allow you to send a request for a token listing, find out information about the company, commissions on the platform, the user agreement, etc.Login — log in to a pre-created profile.Registration — registration of a new profile.The next window contains three important sections:KYC - description of the verification levels and the opportunities they provide;Margin trading - trading pairs for trading with leverage and a link to a direct transition to the interface;Bitcoin Global is a peer-to-peer platform for buying and selling cryptocurrencies.Next, the user sees a running line of quotes for popular trading pairs, just below are the latest posts from the exchange's blog, and then-the trading volume and changes for the most popular pairs:On the main page, you can also immediately download the exchange application for Android and iPhone via a QR code, an app store or a direct link:Despite the relatively short working time, the exchange has already managed to conclude cooperation with well-known companies and services, including CoinMarketCap, Cointelegraph, CoinGecko and others:WhiteBit has accounts in well-known media, which you can join and become part of the community.Registration on WhiteBitHow to register on WhiteBit:Go to the "Registration" tab.Enter your personal data to create an account.Confirm your account using the link from the email.Registration is completed.The first step is to go to the "Registration" tab on the main page of the site.Registration is very simple and requires the provision of standard information: email, a complex password, a referral link (optional). You must also agree to the terms of use and privacy policy, as well as confirm that you are not a resident of the countries from the specified list.After clicking on the "Register" button, the exchange will send an email about the successful creation of the account and will offer to click on the link to confirm it.After clicking on the link, the system will offer to notify you via emails about the completion of transactions - you need to click OK if this function is important to you.This completes the registration on WhiteBit and you can start trading.    Verification on WhiteBitHow to pass verification on the WhiteBit exchange:Go to the "Not verified" section.Fill in personal data.Upload a photo or a scan of an identity document.Upload a selfie.Please note that verification on WhiteBit is mandatory for working with fiat, without it, the limit for withdrawal only in cryptocurrency is 2 BTC per day, i.e. it will not work fully.Passing verification allows you to work on the fiat markets and increase the withdrawal limit to 100 BTC per day.To pass verification on WhiteBit, click on the profile icon in the upper-right corner and go to the "Not verified" section.  The verification process on WhiteBit consists of three stages:Information about the user.Uploading identity documents.Selfie.At the first stage, you need to specify personal data:Full name;Date of birth;Residential address.Please note that the user must be at least 18 years old.The next step is downloading identity documents. It can be:  Passport.ID card.Driver's license.The third and last stage of verification is uploading a selfie with a passport and a sheet of paper on which the current date and domain of the exchange.After sending all the data, the site will need some time for verification (according to the information on the official website from 1 hour to a day), the user will be notified about the completion of which via e-mail.Unlike many other exchanges, verification on WhiteBit is quite simple and does not require documents to confirm the address.  How to trade on WhiteBitHow to trade on WhiteBit:Choose the desired type of trading (spot or margin).Select the order type and select a trading pair.Set the amount.Wait for the order to be executed.Get a profit and repeat.To start trading on WhiteBit, you need to click on the "Trade" tab in the upper panel of the interface and select the desired type of trading (spot or margin).Trading interfaceLet's consider an example of the WhiteBit trading interface using the example of "Basic" trading, since the interface is designed specifically for beginners.  At the top of the page there is a chart of the selected cryptocurrency, which the developers implemented from the well-known trading service Tradingview. This is very convenient, since its functionality has a wide range of tools.The interface of spot trading is almost no different from the "Basic" one, the differences are in color, a more compact arrangement of windows and a simple switch to margin trading:Margin trading on WhiteBit    Only one leverage is available on WhiteBit for margin trading - x5, and transactions can be made with three pairs: BTC/USDT, ETH/USDT and ETH/BTC.The margin trading interface is located in the "Trade" - "Margin" tab.Please note that the "Margin x5" tab is selected, after which you can trade short or long.Cryptocurrencies and orders75 cryptocurrencies and 137 trading pairs are available on the WhiteBit exchange. Almost 900,000 users visit the exchange every week.Spot trading on WhiteBit is available in nine markets, four of which are spot markets:BTC;ETH;USDT;USDC;TUSDT;USD;EUR.Most of the trading volume (77.5%) is accounted for by only three pairs, with all three to the Tether stablecoin:BTC/USDT (46,44%);ETH/USDT (20,81%);BNB/USDT (10,26%).The system of orders on the exchange is suitable for both beginners and advanced users, as it includes not only a market and limit order, but also some other types that allow you to minimize losses:Market - a market order that allows you to perform operations with an asset (purchase/sale) at the price "at the moment". Such orders differ in 100% execution, but they do not allow you to predict the price movement, which is why a lost profit is possible;Limit - a limit order that allows you to set the desired price for buying/selling in advance. The order is executed only when the market price reaches the set level. The disadvantage is that the amount is immediately reserved and cannot be used for other operations;Stop-market - executed when the market price reaches the set level. The main purpose is to prevent losses in the event of sharp price fluctuations;Stop-limit - allows you to set a stop price and a limit price. The order is activated when the market price reaches the level of the set stop price and is executed when the set limit price is reached. It is also used to prevent losses in conditions of volatility;Conditional - they work on the same principle as stop-limit orders, with the only difference that the conditions (stop price and limit price) are set on a "guide pair", for example, BTC/USDT. This type of order is used when the volatility of one pair is tied to the behavior of a certain cryptocurrency (in most cases, bitcoin).Read more: What are Stablecoins and how do they differ from other cryptocurrenciesDeposit and withdrawal of fundsDepositing fundsHow to make a deposit to a WhiteBit account in cryptocurrency:Go to the "Balance" - "Spot" section.Choose the cryptocurrency/stablecoin that you need to deposit.Select a network (blockchain for translation).Check that the address is correct.Transfer cryptocurrency to the copied address or via a QR code.Please note that without passing verification (KYC), the limit for depositing and withdrawing funds is 2 BTC (the equivalent in any cryptocurrency) per day.First of all, you need to go to the "Balance" section and select the spot market. Then click "Top up" next to the cryptocurrency of interest.A window opens from which you need to copy the address to which you want to transfer funds, or immediately scan the QR code if the funds are sent from a mobile wallet. After processing the transaction, the funds will appear on the WhiteBit balance. Also note that there are minimum limits on the deposit of funds on the exchange. For bitcoin, it is, for example, 0.0005 BTC.When transferring stablecoins, for example, USDT, you additionally need to select a network.How to make a deposit to a WhiteBit account in fiat:Go to the section "Balance" - "Spot" - "Fiat".Select the fiat currency that you want to deposit.Select a payment system.Enter the amount.Click on "Request".Please note that for depositing funds in fiat currencies, verification is required.As in working with cryptocurrencies, you need to go to the "Balance" section and select the spot market, then click on the "Fiat" section. Next to the desired cryptocurrency, select "Top up". It is also possible to quickly deposit funds using a credit card.Next, a window will open in which you will need to select a payment system, enter the deposit amount and click on the "Request" button.After that, the system will automatically redirect you to the payment system page to complete the transfer. The funds are credited to the account within a few minutes.Withdrawal of fundsThe withdrawal of funds from WhiteBit is made in the same section as the deposit. it is important that the daily limit for the withdrawal of cryptocurrency is the equivalent of 2 BTC. Verification is mandatory for the withdrawal of fiat.    How to withdraw cryptocurrency from WhiteBit:Go to the "Balance" - "Spot" section.Select the cryptocurrency/stablecoin that you want to withdraw.Select a network (blockchain for translation).Enter the withdrawal address and the amount.Confirm the operation.Below is a detailed instruction on how to withdraw cryptocurrency from WhiteBit.First of all, you need to go to the "Balance" section and click on "Withdraw" opposite the desired cryptocurrency.Next, you need to select a network (if you withdraw stablecoins), enter the wallet address and the required amount. The final step is to confirm the withdrawal by clicking on the "Request for withdrawal of funds" button. After processing the transaction, the funds will be transferred to the user's address.How to withdraw fiat from WhiteBit:Go to the section "Balance" - "Spot" — "Fiat".Select the fiat currency to withdraw.Select a payment system.Enter your payment details.Enter the amount.Click on the "Withdrawal Request".After that, a withdrawal request form will appear on the screen, in which you need to select a payment system, enter payment data, specify the withdrawal amount and send a withdrawal request.The request for the withdrawal of fiat currencies lasts from 1 minute to an hour-it depends on the network load.CommissionsThe commission for the maker and taker on WhiteBit is 0.1% of the transaction amount.The exchange also notes that for some pairs it may be lower and its exact amount can be seen directly when making a transaction.When using borrowed funds for margin trading, the daily commission is 0.098% of the amount.Commissions for deposits and withdrawals depend on the type of assets. So, when depositing funds in cryptocurrency, there is no commission, when withdrawing it depends on a specific cryptocurrency. For example, for bitcoin, it is 0.0004 BTC, for Ethereum — 0.004 ETH.When withdrawing and depositing fiat funds, the commissions are on average higher and directly depend on the amount.We also advise you to look at the WhiteBit review and see in practice how trading takes place on this site:Additional featuresSMART stackingSMART staking is an additional WhiteBit feature that allows you to earn interest on deposits. The exchange offers several plans, which depend on the staking period, for different cryptocurrencies. According to the information on the website, you can earn up to 30% of the deposit amount in a year by simply storing funds on the balance.Trading tournamentsRegistered users can take part in trading tournaments that the exchange conducts in partnership with issuers of cryptocurrencies (mainly new tokens). As a reward, the winner receives a certain number of tokens, which, as a rule, do not have a high price yet, but in the future they can bring "X". The winner is selected based on trading volume data, and the leaderboard can be seen on the tournament page.  Referral programWhiteBit has a very attractive referral program that allows you to earn 40% of the transactions of each user who has registered using a referral link.The earned percentage of the commission is credited to the main balance for the past month at the beginning of the next month in the currency in which the referral made transactions.WhiteBit codesThe WhiteBit code is a tool that allows you to quickly and conveniently transfer funds from one exchange account to another. The creation is available from the main account. One code is used to transfer one cryptocurrency. In order to create a code, you need to go to the "Profile" - "Codes".    SafetyAccording to WhiteBit, the security of funds and the reliability of trading is the main priority of the exchange. More than 96% of assets are located on "cold" wallets, in addition, WAF technology has been introduced, which allows you to detect and instantly block an attempt of a hacker attack.    Two-factor Authentication (2FA)This option allows you to provide an additional level of protection for your account. Thus, even if someone knows the password from the profile, they will not be able to log in without an additional security code from the authentication application.  Setting up 2FA on WhiteBit, in addition to security, opens access to additional functions:Connecting API keys;Increasing the withdrawal limit.Anti-PhishingThe Anti-Phishing system allows you to protect your account from a phishing attack. The bottom line is that the user creates a phrase that is sent in each WhiteBit email. This allows you to be sure that the messages come from the official website, and not from scammers.You can configure Anti-Phishing in the "Security" section.      Support ServiceThe support service is available 24 hours a day and can communicate with users in seven languages (English, Chinese (Mandarin), Indonesian, Spanish, German, Russian and Korean).Advantages and disadvantagesAdvantagesThe WhiteBit exchange has very important advantages, and it should be noted that there are many more of them than there are minuses:Reliable storage of funds — according to the exchange, 96% of funds are stored on "cold wallets".Flexible interface — simple configuration allows you to adapt the interface for both beginners and advanced users. In addition, you can configure the interface for working with margin trading separately.Several levels of security — the account can be additionally protected with 2F authentication, anti-phishing attacks, as well as create a "white" list for withdrawals of funds.High platform performance — according to the developers, the platform processes 10,000 orders per second and supports 1,000,000 TCP connections.The ability to connect the API — the exchange can be used through trading bots and through platforms for automated trading.Low trading commissions — the commission for the maker and taker is 0.1% of the transaction amount, which is significantly lower than on popular exchanges.Trading to fiat - on WhiteBit, you can trade to fiat currencies, this option can be found only on several exchanges.Transparency of work — the exchange is officially registered through the Estonian regulator and has the appropriate licenses for conducting activities.Additional earnings — you can earn on WhiteBit not only on trading, but also on staking, which can become a passive income.DisadvantagesThere are few disadvantages of this site, but they still exist:The need to pass verification — to increase the withdrawal limits and to trade on the fiat markets, it is necessary to pass verification.Limited set of trading pairs for margin trading with leverage — with x5 leverage, you can only trade on three pairs (BTC/USDT, ETH/USDT, ...
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Mining farm for cryptocurrencies. How to build a farm in 2021
Mining farm for cryptocurrencies. How to build a farm in 2021 A mining farm is a structure that consists of special equipment aimed at mining cryptocurrency. The main incentive for creating a mining farm for its owner is the opportunity to generate income. Profit generation occurs upon finding blocks of cryptocurrencies that use the Proof-of-Work algorithm. The most interesting of them are Bitcoin, Ethereum, Grin, Bitcoin Gold, Monero and others. The profit will depend directly on the number of devices on the mining farm and on the cost of its maintenance.In most cases, large farms work in warehouses and hangars. If this is a small installation, then the miner can place it at home.To determine the equipment, namely its efficiency, miners use special services-calculators. Such resources give an approximate idea of earnings in a certain period of time.We will tell you later in the article about which mining farms are better to use, how to install them and how much you can earn on this.What is a mining farm?Types of farms for miningCPU farmsGPU farmsFPGA farmsASIC farmsHow the mining farm worksWhat you need for a mining farmAccessories for mining farmsThe necessary characteristics for profitable miningThe ratio of power and energy consumption of the deviceMemory size and speedComplexity of operationHow to choose mining equipmentHow to build a farm for miningPreparing for the installation of a mining farmHow to make a mining farmSetting up a farmHow and where to buy a mining farmMining Farm PricePayback of the mining farmWhat cryptocurrencies to mine on a farm in 2021GrinBitcoin GoldZencashZclassicRavenCoinMining farm with your own hands — useful tips and guidanceInstalling the caseInstalling the motherboardInstalling the power supply unitAdding a GPUBuying a ready-made mining farmWhat is a mining farm? A mining farm is a powerful computer system configured for cryptocurrency mining. In simple words, this is an installation that consists of two or more units of special devices located in one place, and aimed at mining cryptocurrencies by implementing complex calculations.So, as they are solved, the miner receives a reward, while the new extracted block, which directly contains this solution, is added to the cryptocurrency blockchain.In fact, managing a mining farm is no different from mining on a single device - the only difference is in scale.Thousands of pieces of equipment can work simultaneously on mining farms. It is for this reason that their main location is in areas with cheap but stable electricity supply. Note that the manufacturers of mining equipment own one of the largest mining farms in the world.And although it may seem that only the richest companies can manage a mining farm, in fact, everyone can create a similar one. All you need is a couple or more devices and an Internet connection. In addition, mining cryptocurrencies on a smaller scale is still profitable these days.Types of farms for mining CPU FarmsThese are constructions that implement the mining process based on the operation of the central processor.Today, CPU farms are the least efficient option for mining, but they still have the right to exist.After all, while mining bitcoin, Litecoin, Ethereum using central processors is initially a failed idea, CPU farms are great for mining cryptocurrencies using the Scrypt algorithm (for example, Dogecoin or DigiByte). Such farms are mainly popular among miners engaged in mining little-known coins, which in the future will probably be able to unlock their potential.GPU farmsThey are specialized electronic circuits that are commonly used in computers and gaming systems. In this case, they perform a wider range of operations, that is, cryptocurrency mining.Miners use the computing power of video cards to mine the widest range of coins. And although video cards are bundled with any computer, usually high-quality GPUs with higher computing power are used on this type of farms. Most often, video cards are used for mining Ethereum.  FPGA farms Field Programmable Gate Array - devices that support programmable matrices, thanks to which, in fact, the process of cryptocurrency mining is carried out. This type is interesting to miners not because of the speed of production, but due to energy efficiency.So, if a typical video card with a bandwidth of 600 MHz/s consumes up to 400 watts of energy, then the FPGA provides a data transfer rate of 826 MHz/s with a power consumption of about 80 watts.But this is their only advantage, and therefore this type of farms has not been widely recognized among miners.ASIC farmsThese are constructions made of specialized integrated circuits designed to process a specific blockchain. And although ASIC miners are more expensive than their alternatives, the performance of these farms is also much higher than that of competitors. This type will be the optimal solution for mining coins on the Bitcoin, Bitcoin Cash or Litecoin blockchains.How the mining farm works Let's start with the fact that the power level of the mining farm is ten times higher than this indicator for a home computer. In addition, this power is directed to a single operation (cryptocurrency mining), and is not used to support programs and the system as a whole, unlike, for example, the CPU.The result of the work depends on the number of devices and power. Note that miners participate in mining not for the sake of pleasure, but, first of all, for the sake of money.As the farm starts, the equipment performs complex calculations aimed at finding a specific number that satisfies one pre-defined and well-known condition, after which a block is created for which the miner receives a reward.So, the greater the power aimed at decoupling these calculations, the faster the solution will be found, and, consequently, the sooner the reward will be received.In order for the farm to work efficiently, its condition must be monitored. Depending on the scale, both one person and an entire team can monitor the correct operation of the equipment.It is necessary to regularly check the system for possible errors and information about the operation of mining pools.To avoid getting viruses and other malicious software into the system, it is not recommended to download firmware for overclocking equipment from third-party resources.If devices with a hashrate indicator that do not comply with the standards are detected, the problems should be confirmed and resolved in a timely manner. If the problem is not fixed on the spot, then the equipment should be given for repair or returned to the manufacturer for maintenance.What you need for a mining farm In order for the mining farm to bring the desired income, its owner needs to take care not only of the correct assembly of the structure, but also of certain components that will facilitate its maintenance.Accessories for mining farmsFor an effective mining process, the farm must consist of the following components (let's look at the example of a farm for mining from video cards):The motherboard. A powerful motherboard will be able to increase the working life of the farm (ASRock, AFOX, Gigabyte, Asus).The power supply unit. Mining consumes a huge amount of electricity. It is recommended to use a power supply with a power of at least 750 W, depending on the needs (GreenVision, Chieftec, Aerocool).Processor (AMD, Intel).Video cards. The optimal number of cards for one farm is 4-6 units, with a speed of at least 400 x / s (Nvidia, AMD, Sapphire, Gigabyte, Asus).RAM. For the installation to work effectively, you will need at least 4 GB of RAM.Vertical-mounted cables help connect graphics cards to the motherboard (Atcom, HQ Tech, Cablexpert).The hard disk, in fact, is only needed to install the mining farm software (from 60 to 120 GB is enough).You will need a fan for additional cooling (NSI, Zotac Polit, Gigabyt).The Linux operating system is considered the best operating system for mining. However, Windows or iOS are still excellent alternatives to it.Accessories - monitor, keyboard, mouse and USB cables. You will need them to set up a mining farm.The case for assembly - will help to fix all the components of the installation.The necessary characteristics for profitable miningThe selected mining farm must have certain characteristics so that its owner receives income from mining:The ratio of power and energy consumption of the deviceFirst of all, we pay attention not only to the cost of mining equipment, but also to its return. The fastest payback is the main goal of every miner. Therefore, the ratio of power and energy intensity will directly affect the amount of income received.Memory size and speedThey affect the availability of algorithms for mining. Cards with a small amount of memory are unable to extract a large range of hashing algorithms.The amount of memory of a mining farm based on video cards must be at least 4 GB.The efficiency of mining depends on the speed, and, accordingly, its profitability.Complexity of operationWhen it comes to video cards, the best option here is an installation that includes from 4 to 6 GPUs.On the other hand, the number of installed video cards directly affects the stability of the farm, as well as the level of complexity of configuration and operation — respectively, the fewer of them, the easier it is to configure the farm.How to choose mining equipmentNote that only cryptocurrencies built on the POW consensus mechanism participate in the mining process.However, since different blockchains use different algorithms (SHA-256, Equihash, X11, and others), the hardware requirements differ for each coin mined.Read more: What is SHA-256In many cases, devices are designed to solve only one of these algorithms. For example, the equipment used for mining Monero (XMR) will be less effective when mining Bitcoin (BTC) or even inefficient. But at the same time, the mining of many cryptocurrencies can be implemented on the same device. The choice and the expected financial result will depend on the coin.How to build a farm for mining Decide on the room.Decide on a coin for mining;Create a wallet for storing coins;Install mining software;Join the mining pool;Set up a mining farm.Below you will find a description of each step with all the details.Preparing for the installation of a mining farmThe first step is to determine the scale of the activity. If this is an installation that includes up to several dozen cards, then it can be assembled at home. But if these are hundreds, or even thousands of devices, then there can be no question of a residential building. First of all, they are very noisy and have a high heat transfer. This may cause inconvenience when placing in the apartment.In addition, mining farms require certain conditions for effective operation, including moderate humidity and indoor temperature, in the presence of a powerful source of electricity.You should decide in advance which cryptocurrency will be mined by the mining farm. To determine the most profitable coins, they usually use yield calculators, which will be described below. As soon as the coin is selected, it remains only to decide on the equipment and start mining.But how will the user get his coins if he does not have a wallet for storing cryptocurrencies? Yes, in any case, you will have to create a cryptocurrency wallet. This can be a mobile application, a hardware device or a web application that will receive a reward with the possibility of subsequent storage.Next, we join the mining pool, install the software and configure the mining farm.Note that currently professional miners mainly use farms made of GPU and ASIC. But the latter are much more efficient at mining than the GPU, given their targeted functionality.How to make a mining farmWhen buying equipment, first of all, it is worth checking it for damage. This can be either an already assembled mining farm, or its components for assembling with your own hands.So, we start with checking the cables. Next, the graphics processors, the power supply and all other accessories are connected to the motherboard. We check the GPU drivers for the fact that they are updated and proceed to the next stage.Setting up a farmAt this stage, you should download the mining software: BFGminer, CGminer, NiceHash. Note that this software is freely available, you can download it on the developer's website or through unofficial binary files for Mac users.Let's look at the configuration process using the example of the CGminer program.We load the program and execute the following command line arguments:Unpack cgminer into a folder. We give the folder a name.We clamp the Windows and "R" keys at the same time.Enter "cmd" and press "Enter".We use the cd command, then go to the directory where the cgminer zip file was downloaded.Enter "cgminer.exe – n".So, next, a list of devices available on the computer will appear, among which there will be customizable video cards.If the list of available video cards does not appear, it means that the settings were made incorrectly and the procedure should be repeated.At this stage, the miner should already have a cryptocurrency wallet registered and an account created in the mining pool. As we get access to the pool data, we enter commands into the bat. file, activating it with a double click. Here is the guide:«C: \ Cgminer \».The URL of the mining pool server.The server port number.The user's username.The name of the Worker.Password.Cgminer software shows the hashing speed of both CPU and GPU.Note that on average, the data processing speed on video cards is about five times faster than mining on the processor.How and where to buy a mining farm The purchase process should not cause any special inconvenience. The main thing is to decide on the right model. So, you can make a purchase either directly from the equipment manufacturer or from its dealers.As for the first option, in this case, the consumer protects himself from overpayments and possible fakes, but in return he receives it only after a few months. Of course, if it is on the shelves of the manufacturer at all.In most cases, dealers instantly disassemble models that are in demand among miners. Therefore, if the manufacturer does not have equipment due to increased demand, or because of decommissioning, then you can search for the model on sites specializing in the sale of mining equipment. When buying equipment on the dealer's website, it will be delivered much faster, although the price may be an order of magnitude higher. In addition, if the search for new models has not been successful, then there are a large number of resources on the Internet offering used equipment for purchase.To buy a mining farm, it will be sufficient to specify the model of the requested equipment in the search bar, after which a list of sites offering similar models for purchase will appear.In addition to Internet sites, sellers place ads for the sale of equipment on thematic forums, in specialized groups in social networks, in Telegram messengers, etc.Mining Farm Price For competitive mining, miners must invest in powerful hardware, such as a GPU or ASIC. But how much does a mining farm cost? The design will cost the buyer from a thousand dollars to several tens of thousands, depending on the scale of activity.Equipment prices are very unstable and are subject to changes every day. There is a high probability that the miner will be lucky to buy a used structure in good condition, which will be an order of magnitude cheaper than buying a new one.Note that miners prefer farms made by Nvidia. Compared to AMD, the "green" video cards produce coins with greater efficiency and with much less energy consumption.Payback of the mining farm Mining is one of the most profitable ways to get coins. But this activity requires a willingness to invest. Thus, the miner needs to have good equipment before starting production.But even if you build an expensive non-standard rig for cryptocurrency mining, no one can guarantee its profitability. In order to calculate how much profit a miner will receive from the operation of a mining farm by mining a certain coin, you should use the profitability calculator. Such a service will give an idea of the approximate terms of return on investment based on the calculation of the daily profit from the work of the farm.  Here are some examples of popular services:CryptoCompare is another popular mining profitability calculator. For calculations, you must specify the following parameters: hashing power, the cost of energy consumption and the size of the pool commission (if necessary). The calculator will calculate the profit coefficient per day or per month.WhatToMine offers to calculate the income from mining on the GPU and ASIC. It is only necessary to select the necessary equipment and the system will automatically calculate the hashrate. However, it is worth noting that the user interface of this resource is not as easy to use as in previous services.Let's look at the example below to see what profit miners get from cryptocurrency mining. For example, if you decide to mine Ethereum on a farm of 4 Nvidia 1080Ti video cards, the income will be about $3.41 per day or $85 per month.In addition to the power and energy intensity of the equipment itself, when calculating the payback of the installation, it is worth considering:The cost of equipment to support miners, including shelves for its installation, power supplies, cables, accessories, and the like.The cost of electricity during the operation of all devices, in addition to the mining farm.The cost of uninterrupted and stable Internet access.Network complexity (the level of complexity increases over time).The equipment can quickly become outdated, and therefore there is a need to update the components.Costs incurred due to downtime. The equipment tends to fail, so it is necessary to take this point into account when calculating the profitability of mining.Shipping costs and customs fees.The cryptocurrency exchange rate. This factor is the most unpredictable of all, and there is always a chance that the mined coin will become worthless. Thus, there are no guarantees that the investment will pay off, even if the cryptocurrency market goes up.What cryptocurrencies to mine on a farm in 2021 Before you start mining any cryptocurrency, it is worth studying its course and evaluating the prospects for development. A useful tool for this is the analytical service CoinMarketCap.Below is a list of the TOP 5 coins that are interesting for mining in 2021:GrinGrin is a relatively new cryptocurrency based on the Cucatoo31+ and CuckARood29 algorithms. It is interesting from the side of ensuring the confidentiality of transactions, which are based on the MimbleWimble technology.Grin has an unlimited number of coins, which certainly attracts miners. The complexity of mining changes dynamically in accordance with the hashrate of the network. Reward for mining: 60 GRIN per block. The current market value is $0.44 according to CoinMarketCap.Bitcoin Gold The Bitcoin Gold project officially started on October 24, 2018. The main task is to return mining from large farms to PCs, for which the transition from the SHA-256 algorithm to Equihash was carried out.Thus, the Bitcoin Gold cryptocurrency does not support mining on ASIC.Mining reward: 12.5 BTG per block. The current market value is $27.9 according to CoinMarketCap.ZencashZencash is a representative of a fairly extensive family of cryptocurrencies based on the Zerocoin protocol, released in May 2017. At the same time, the cryptocurrency was formed as a fork of Zclassic (a fork of Zcash). Zencash can be called an intermediate solution between the previous two. ZEN miners get 88%. The current market value is $46.14 according to CoinMarketCap.ZclassicZclassic is another fork of the popular and widely used cryptocurrency Zcash. The fundamental difference from the parent coin is that the entire reward goes to the miners, and 20% of the extracted ZEC goes to the addresses of the developers. The current market value is $0.28 according to CoinMarketCap.RavenCoinThis fork of bitcoin appeared in 2018 and already boasts high liquidity. Today, the cryptocurrency occupies the 57th position in the CoinMarketCap rating with a market capitalization of more than $159 million. It uses the X16R algorithm and the PoW protocol. Mining reward: 5000 RVN (blocks are mined every minute). The current market value is $0.15 according to CoinMarketCap.In addition to the above cryptocurrencies, it may be interesting to double mine coins like LBRY or DECRED on additional GPU memory. It is better to mine coins on the processor, such as Loki, Monero or Sumocoin.Watch a useful video on how to properly assemble a mining farm and make cryptocurrency mining more profitable in 2021:Profitable mining farm in 2021 Mining farm with your own hands — useful tips and guidanceCreating a mining farm with your own hands may be of interest to those miners who do not want to spend money on buying a ready-made structure.Installing the caseThe first thing we need is a case. It is recommended to use an aluminum frame, as they are more rigid and flame-repellent, unlike wooden ones. It will help to hold the equipment. If the farm consists of 4 video cards, you can use an old computer case, a box, a rack, etc. as a frame.Installing the motherboardPlace the motherboard on a flat, non-static surface and carefully insert the cable into the connector. Place the motherboard in the case and secure it with screws.Be careful that the motherboard does not touch the metal surface, since metal surfaces are current conductors.Installing the power supply unitIt is necessary to connect the motherboard to the power supply. It is advisable to connect all additional cables that may interfere. Sometimes it can be difficult to fix the wires carefully, so be patient.The next thing you need for the GPU. This is to take the power cables and place them next to each place of the GPU along the structure.Adding a GPUBefore you start connecting the GPU to the motherboard socket, fix them in the case. After that, connect all the cables to the GPU. The advantages of mining on the GPU will outweigh mining on the processor. So, a mining farm on a GPU will cost more than a CPU, but it will have a higher hashing power. It will also support the mining of a wide range of cryptocurrencies with different hashing algorithms, which also brings additional benefits.A mining farm assembled with your own hands can be cheaper from a financial point of view, but it is unlikely to justify itself in terms of time and labor costs compared to the finished design. Therefore, before choosing a solution, it is necessary to carefully calculate everything.  Buying a ready-made mining farmIf you want to start mining as soon as possible, buying a pre-mounted farm may be the best solution. It will cost more, but it will save time (in the sense that the miner will be able to start returning his money much faster).Many companies offer to buy a ready-made assembly at a price of $2000 or more, depending on the selected characteristics.Any of them will pay off in at least a year. If there is no experience in creating farms, then it is better to go this way.Note that in addition to the difficult assembly, it will take much more effort to manage a large mining farm on the GPU than when managing an ASIC data center. In this regard, large players choose the second option, leaving mining on video cards to small companies and individuals.If a miner can afford mining on an ASIC farm, then he will get not only a simpler farm, in terms of equipment management, but also more efficient cryptocurrency ...
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Is it worth investing in cryptocurrency
Is it worth investing in cryptocurrency Over the past few decades, the world has been rapidly moving from fiat money to digital money. Our settlement means are not unique metal disks with stamped portraits, and not paper rectangles with watermarks and unique numbers. Today, the means of settlement in transactions is a set of zeros and ones stored in a certain memory cell on the bank's server. At the same time, two main parameters are preserved: each digital ruble/dollar/yuan is unique and can be identified and accounted for, and there is a high level of trust in the electronic settlement system of settlement participants, since it is regulated by governments, federal systems and central banks.The emergence of blockchain technology, a decentralized continuous sequential chain of blocks with unique data in each, made it possible to create digital units that meet the requirements for monetary signs regarding the uniqueness of each unit. They are created using a special cryptographic cipher, therefore they are called a cryptocurrency. Their main difference from other digital money is that their "issuer" can be not banks authorized by the Government, but almost everyone. The question of trust in such money, and, therefore, the final acceptance of it as money or recognition of it as a big fake of our time, has been solved right before our eyes over the past few years. Many analysts say that cryptocurrency is the currency of the future. The only question is when exactly this future will come. The first Bitcoin crypto coin already has in its history periods of enchanting take-off, and no less loud falls. In this article, we will try to understand the main questions that investors need to know the answers to when making a decision to invest in cryptocurrency or not:Blockchain technology and how it is used in cryptocurrencies.Pros and cons of cryptocurrencies.Trends and prospects of cryptocurrency.Ways to invest in cryptocurrencies.How to invest in cryptocurrency on the stock market.Blockchain technology and how it is used in cryptocurrenciesBlockchain is a decentralized database that is designed to store sequentially connected blocks with a set of characteristics (version, creation date, information about previous actions in the network). A simplified example of such a structure is a metal chain in which you can not break or swap the links, you can only add one new one to it; then another, and another, ad infinitum. It is important that the links are added one by one and always have the "imprint" of the previous link, the one to which they are attached. Also, the blockchain chain can be represented as a book with the ability to add pages, but without the ability to delete or change existing ones.Movement in such a system, or calculations, occur through transactions. In this case, the transaction, despite the similarity of the terms, is not what is meant by a simple money transfer. When we make payments using a bank card, information is received from the data warehouse of one bank to the storage of another – such and such a person has enough funds in his account and is currently performing a transfer operation of a certain amount. At the same time, physical paper money confirming the possibility of such a transfer should lie in the vault of the first bank and at some point move to the vault of the second. During a transaction, a special script is executed in the blockchain system, a certain note with data is written, information is processed inside the network. As if on the last page of our book, at the moment of writing, the following information appeared sequentially: "Mike transferred to Nick 70 euro"; "John transferred to Joanna 25 cents"... Several thousand such records can be stored within one block. When the memory in a block runs out, it is closed, signed and transferred to a new block in the form of a hash or "fingerprint". A hash is a certain set of characters that carries a unique fingerprint. It is formed based on what transactions and in what quantity each block stores in itself. During each transaction, the system checks the entire sequence of hashes for their integrity and immutability. After going through the entire chain, the system returns to the final block and confirms the correctness of the data so that this block can also be closed.The chain data is stored simultaneously on a large number of individual computers and is checked by the system during transactions for identity. If someone wants to make changes to the cell by adding an additional couple of hundred coins to themselves, then the other participants of the system will not confirm such a block change, and the data will simply not be recorded. And since the number of users in these systems is several million, even if you agree with a couple of hundred of them, you will not be able to make changes. You can only change the block that is written here and now; no postings are "retroactively" possible.At any given time, hundreds, if not thousands of people participate in the process of buying and selling crypto coins. A special miner program on one of the computers analyzes the applications in the queue, processes them and writes them to the block. In order for this data to be accepted by the system, the miner sends the final decision, that is, the calculated hashes, to the network, where the result is checked and confirmed by other miners. If the calculations are accepted by the majority, the block receives a mark confirming its correctness.Since the basis of the reliability of the blockchain system is a cryptographic cipher, cryptographic keys are required for conducting transactions. These are unique sets of characters and numbers that the system will generate independently and present to any participant of the blockchain at the time of registration. Each participant has a public key and a private key. The public key allows all network participants to see data that is not private. By analogy with digital payments, this is like the number of a digital wallet or a bank account that everyone can know. In this case, the private key is similar to the password from the wallet or from the online banking system, according to which all actions are performed with the account or wallet.It is worth noting that blockchain is a technology that was created not only for use in cryptocurrencies.Cryptocurrency and transactions with it are just one of the ways to use it, but its possibilities are much wider.Read more: What are AltcoinsPros and cons of cryptocurrenciesDespite the fact that crypto coins are not coins in the literal sense of the word – they simply do not have a material embodiment, they still have "two sides of the coin". Let's start with the advantages:Anonymity. When crediting money to a bank account, any user provides the bank and all related systems with a lot of information about himself, without which the account simply will not be opened, and the money will not be credited.  When making calculations, the banking structure analyzes a lot of information about us: passport data, registration address, family composition, sources of our income, the presence of debts… We provide this data ourselves by signing an agreement on the processing of personal data. Then our data gets into the database, and leaks often occur from there. In addition, a number of bank employees have access to the database, which is not pleasant for everyone. There is no such thing in cryptocurrency. All that is known about the participant of the chain is the digits of its public key. No personal data is transferred anywhere, and it is not requested; there is simply no need for them. This quality of the crypt is very valuable in our age, when information has become the "oil of the 21st century".No intermediaries in transactions. Since all data changes are made programmatically, no bank employees, employees of depositories and other "third parties" are required in the process. Unlike, say, bank transfers: when transferring money, the client should not blindly rely on the quality of the banking system and the integrity of all participants; it does not take a long time for the process itself (with bank transfers, sometimes the crediting period is 3-5 working days due to verification procedures). You do not need to open additional accounts for transfers to other countries; calculations in cryptocurrency have no boundaries.The impossibility of falsification and theft. The simultaneous storage of data on many computers in different parts of the world and the transparency of exchange operations makes it impossible for any forgeries, as well as transfers without confirmation by all participants. Moreover, the more participants are involved in the process, the more reliable the system becomes; such a "snake biting its tail": the more reliable the coin, the more users it attracts, the more reliable it becomes.The issue limit. There are two limiters here. The first, simple, is set by the author of the coin, and can be changed only by agreement of the majority of network participants. For example, Bitcoin has an issue limit of 21 million units. This information is also contained in the block data. But there are coins without a preset limit. For example, the currently popular Ethereum does not have a certain release limit. However, for any crypto coin, there is a release limit associated with the computing power of the network. As follows from the process of adding blocks to the chain described above (and the appearance of a new volume of coins is carried out in the same way), it takes quite a lot of energy and a certain period of time. As the chain grows, each subsequent block takes longer and more difficult to form. By the way, this aspect indirectly affects the increase in the value of coins with a large number of participants. In addition, for the "extraction" of each subsequent coin, a higher computing power of the equipment is required, which means that the financial costs for its acquisition are higher.Decentralization. The process of the emergence of cryptocurrencies is not regulated by any banks, reserve systems or governments. Even the creators themselves cannot control this process. A lot of people included in the chain issue and manage the movement of crypto coins. In such a situation, it is impossible to introduce restrictions on the distribution of coins. The absence of a single central data custodian (for example, a central server in a bank) also excludes a situation in which one accident will disable the entire payment system.But crypto also has its drawbacksThe absence of "responsible persons" and the possibility of insurance. When opening a bank deposit, you can insure it. If your funds in the bank account are attacked by intruders, the banking security system will be responsible for your funds. This is impossible with cryptocurrency. De-personification of stored data automatically makes it impossible to recover digital keys; if the owner of the key (and the cryptocurrency) did not hide the key carefully enough, or, on the contrary, too carefully and eventually lost it himself, it is impossible to restore the key.All coins belonging to this owner will automatically disappear from circulation. It is also impossible to cancel transactions carried out by scammers who have gained access to the private key. Full responsibility for the safety of funds lies only with the owner.High volatility. The chart below shows the four most popular cryptocurrencies in comparison with the S&P 500 index. The exchange rate of each of the currencies is influenced by a lot of factors that do not matter for the rates of major currencies or, for example, securities ("What affects the value of shares"). A new company or even the smallest state that has announced the possibility of settlements in a particular cryptocurrency raises quotes up with the speed of a rocket. Negative news drops them down with the same speed. We can say that the main factor of any money – the degree of trust in it by those who actually use it-is being formed right now, before our eyes. The statements of media personalities, authors of literary bestsellers, financial gurus-everything affects the change of course. One of the most popular "crypto trolls" has recently become Elon Musk. As a result of one of his tweets in January of this year, the exchange rate of the coin jumped by almost 20%.A few months after Tesla promised to start accepting tokens as payment, the company abruptly abandoned this idea. Elon Musk wrote about this decision on his page in mid-May, and this brought down the bitcoin exchange rate by 15%.Lack of a legal basis. This is probably the "weakest point" of all cryptocurrencies. At the moment, there are a number of positive facts: in Germany, bitcoins are recognized as a settlement currency, in Japan, Bitcoin is a legal tender with a purchase tax. Switzerland is subject to the same rules for cryptocurrencies as for foreign currencies, and this country is one of the most favorable jurisdictions for Bitcoin startups. The Singapore authorities consider cryptocurrency as a cross between an exchange-traded asset and ordinary money; crypto coins can be exchanged for goods and services, activities with them are taxed on a par with investment instruments. Cryptocurrency has also been legalized in the United States; as follows from the conclusion of the Supreme Court of 2016, "Bitcoin is money in the literal sense of this term.". It would seem that global trends support the development of the crypto market. But recent events in China have shown the fragility of the current position of “people's” money. By one legislative act, the Chinese government banned banks and financial organizations from dealing with cryptocurrency, citing its high volatility and unpredictability, and therefore a danger to large financial structures. Negative statements were made at the beginning of 2021 from other governments, including the United States and Canada. The instability and inability to influence the exchange rate of digital coins cause concern for the safety of the well-being of people investing in them. There was talk of creating internal crypto coins at the state level. If this happens, there is a high probability of banning the "people's" crypt at all levels in support of the "state" crypt.Read more: Blockchain technology: how it works and where it is usedCryptocurrency trends and prospectsAt the moment, cryptocurrencies obey the standard laws of the market and are regulated by the simple impact of supply and demand on them. The number of participants in the crypto market has long exceeded the limit of a million people, so this market cannot simply disappear in the near future. Looking at what is happening now in this market, we can identify the main trends for the near future:Increase in the number of users. With the increase in the number of manufacturers accepting bitcoin and altcoins as a means of payment, the number of users who are ready to try the new currency both as a settlement tool and as an investment option, at least in small, cautious volumes, is also increasing;Tightening of regulation of the cryptocurrency market by states. Similar bills are being prepared now in many countries, including those who were leaders in the adoption of cryptocurrency as a means of payment: Canada, the United States, Switzerland;An increase in the number of cryptocurrencies, the development of "young" cryptocoins and the expansion of infrastructure opportunities due to competition. Technologies in the modern world are developing at an insane speed. Blockchain technology is no different from the rest; and already today, the system on which the "old man" Bitcoin was founded and continues to develop is significantly inferior to the newly emerging coins in terms of security, transparency and infrastructure convenience. This situation, coupled with a large number of coins on the crypto market, will sooner or later lead to increased competition between systems and, consequently, to the modernization and expansion of the capabilities of the systems themselves, as well as to a decrease in the level of transaction fees.Ways to invest in cryptocurrenciesIt is possible to invest in the crypto market both directly, by buying cryptocoins directly, and indirectly in various ways: by purchasing ETFs (ETF funds), buying futures contracts for Bitcoin, or by purchasing shares of companies related to cryptocurrencies. Both direct and indirect investments have their advantages and disadvantages.Read more: What are futures: types, features, advantages and risksThe advantages of direct investment include the following:By buying Bitcoin or another crypto coin, an investor acquires a kind of currency that has solvency in the market. In other words, having a cryptocoin in your wallet, in a number of countries you can purchase goods or pay for services with these units, without exchanging them for fiat money;As an object of investment, most of the cryptocoins, especially if you choose the most popular ones for investment, have high liquidity. Even if there is no possibility of direct payment for goods and services, you can exchange the crypt and get electronic money into your wallet in a very short time;Given the high volatility of cryptocoins, a good entry point can provide an investor with a very high level of income. In this case, it is important not to miss the right exit point for fixing this income.Among the disadvantages of directly buying cryptocurrency as an investment, the following should be noted:The low level of the possibility of forecasts. Given the large number of factors affecting the crypt, it is very difficult to assess the probability of a coin rising and falling; the risk level is close to the banal casino;The possibility of losing all invested funds. If the world governments still come to the conclusion about the rejection of the "people's currency" as a settlement tool and decide to ban it as a financial settlement tool, there are risks that all the funds invested by investors will turn into zero;The complexity of choosing an investment cryptocoin. Bitcoin and Ethereum, due to their high popularity, are approaching the limit of their possible profitability. Those who did not have time to buy them at the start, now they can no longer count on serious profits. Other, less popular coins still retain this possibility. However, it is very, very difficult to understand this variety and guess which of them will "work";The need to enter specialized exchanges to buy an asset and create special wallets for storing it. A high level of digital security is required to ensure the safety of;Among the disadvantages of directly buying cryptocurrency as an investment, the following should be noted:The low level of the possibility of forecasts. Given the large number of factors affecting the crypt, it is very difficult to assess the probability of a coin rising and falling; the risk level is close to the banal casino;The possibility of losing all invested funds. If the world governments still come to the conclusion about the rejection of the "people's currency" as a settlement tool and decide to ban it as a financial settlement tool, there are risks that all the funds invested by investors will turn into zero;The complexity of choosing an investment crypto coin. Bitcoin and Ethereum, due to their high popularity, are approaching the limit of their possible profitability. Those who did not have time to buy them at the start, now they can no longer count on serious profits. Other, less popular coins still retain this possibility. However, it is very, very difficult to understand this variety and guess which of them will "work";The need to enter specialized exchanges to buy an asset and create special wallets for storing it. A high level of digital security is required to ensure the safety of;The presence of a spread between the purchase price and the sale price and the commission for the purchase. To make a profit, you need to wait for the sale price for the volume available in the wallet to exceed both of these cost factors.Investments in ETFs, ETP and ETN on bitcoin have the following advantages:The volatility of such funds is somewhat lower than the volatility of the coin itself. Diversification of assets within funds somewhat smooths out price fluctuations;When buying fund units, the investor avoids the issues of purchasing and storing cryptocoins, issues of spreads and commissions. The only additional expenditure component in this case will be the commission of the fund itself. For different funds, the commission is from 0.4 to 2.5%;A number of funds (but not all) have insurance against risks.Read more: Exchange Trade Funds (ETF)Unfortunately, there are more disadvantages:All traded funds are quite young, and most of them appeared on the markets only a year or two ago, so they do not have historical returns, based on which it would be possible to assess their investment prospects;At the time of writing, there are only four ETF funds for cryptocurrency on the world markets; the remaining funds are of the ETN type. ETN funds, having similarities with ETFs, have a different internal essence; they are not backed by physical assets, and are debt obligations issued by a large bank or other financial institution. In the event of an ETF bankruptcy, the fund's management has the opportunity to sell off assets and return some of the funds to investors; in the event of an ETN bankruptcy, the investor completely loses his investments;A number of funds, in addition to the management fee, take a premium for profitability, sometimes reaching 20%;The composition of the funds is not determined by the investor. When buying shares of the fund, it is necessary, along with assets in which there is a desire to invest, to acquire other assets in which there may be great doubts.How to invest in cryptocurrency on the stock marketAnother type of indirect investment in cryptocurrency is the purchase of shares of companies related to cryptocurrency. This type is devoid of the disadvantages of direct investment, since the procedures for buying and storing shares are long-established and understandable, and the volatility of stock prices of companies associated with the crypto market is not as high as that of the cryptocurrency itself, since these companies are engaged in the production of products and services of various types, and therefore are to some extent stabilized by these additional goods and services. Shares can be selected point-by-point, and no additional commissions are required for their purchase. Therefore, there are also no disadvantages of investments that are typical for cryptocurrency ETFs in this type of investment.A precise selection of high-quality assets allows a competent investor, on the one hand, to invest in such a highly interesting market as cryptocurrencies, and on the other, a careful choice of specific stocks will allow avoiding the huge risks associated with the world of tokenized money.Coinbase (COIN)Coinbase Global is one of the leading providers of complex financial infrastructure and technologies for the crypto market, and at the time of writing, it owns one of the first crypto platforms created that allow customers to store their savings in a wide range of crypto assets – more than 50 types of crypto coins. The company is the leader in trading volumes among American exchanges that trade crypto: $3.33 billion worth of cryptocurrency is sold and bought on Coinbase per day. The platform ranks eighth among the world's cryptocurrency exchanges. This is the first cryptocurrency exchange traded on the stock market. Coinbase was founded in 2012, went public on April 14 of this year with a share price of $ 250; in a short time, the price soared by 70% to$ 429, and then fell to the level of $ 228 per share and remains approximately at this level for several months. Meanwhile, the company's financial indicators are excellent. In the first quarter of 2021, the exchange's revenue soared 9.5 times compared to the same quarter last year — from $190 million to $1.8 billion. The result exceeded the entire revenue of Coinbase for 2020 ($1.14 billion). Net profit was $730-800 million, which is also much higher than earnings for the whole of 2020 ($322 million). In the first quarter of 2021 alone, Coinbase attracted 13 million users. Despite the fact that the company currently has 56 million customers in total. Monthly users  that is, those who performed at least one operation during the month were 6.1 million people in the first quarter, twice as many as in the previous quarter (2.8 million). The P/E multiplier is about 9 times higher than the average for the sector, but at the same time the PEG is only 0.6, which indicates not overheated growth.Read more: The history of the Coinbase exchangeSquare (SQ)Square is an American company of the technology sector, founded in 2009 and developing equipment and software for receiving and processing electronic payments. The company was one of the first to actively develop and implement specialized applications for payments and cryptocurrency trading. By the end of 2020, more than half of the company's revenue was generated from the direction of cryptocurrencies. This company earns both on the growth of cryptocurrency prices, when a large number of investors buy it, and on the fall, when many sell their assets. The company's financial indicators are growing from quarter to quarter. Similar to the previous company, the P/E of the shares is quite high and is 309, which is about 8.8 times higher than the average for the sector, but the growth of the shares is provided by a more rapid growth in revenue and profit, as a result of which the PEG multiplier of 0.7 indicates a non-overheated growth in the share price.Advanced Micro Device (AMD)Advanced Micro Devices is engaged in the development, production and sale of microprocessors, chipsets, chipset motherboards, discrete and integrated graphics processors, etc. In particular, it produces a line of high-performance video cards that are designed directly for mining cryptocurrencies. The company has been operating since 1969. The production of products is completely carried out by third-party contractors located in different countries of the world. The growth in the number of cryptocurrency miners, among other things, affects a significant increase in the demand for the company's products; its chips and video cards. At the time of writing, the company holds a 29% share of the video card market. The company's financial indicators are steadily growing. The P/E multiplier corresponds to the market value.PayPal Holding Company (PYPL)PayPal Holdings is an American company that manages a worldwide online payment system. PayPal Holdings operates almost all over the world, the operation of the payment system allows customers to send, receive and store funds in 25 currencies of the world. PayPal Holdings competes with all forms of payment: cash and checks; payment platforms for electronic, mobile and e-commerce; blockchain technologies and digital currencies. The competitive advantages of PayPal are the global scale of its activities, the ability to make uninterrupted transactions in different markets and in different networks, the reliability of the system and data security, the ease of integration into mobile applications and operating systems. The payment system provided access to cryptocurrency back in November 2020, and in April of this year, the Checkout with Crypto Service was launched, allowing users to pay with cryptocurrency around the world. Now it is possible to convert bitcoins, ether, bitcoin cash and litecoins into fiat currencies for making purchases without a commission from the company, as well as without paying for storing cryptomonets. At the same time, the company itself has existed since 2002 and has long held a strong position on the stock market. The stable growth of indicators, which cannot be affected even by serious crises, speaks for itself.From the point of view of investment valuation, the company is valued significantly more expensive than the average sector level. However, in the current situation, this should be regarded as a persistent expectation of participants for a significant increase in revenue and profit of the company.ConclusionNewly emerging technologies in the stock market cause a stir among investors. Each novelty that has attracted enough attention and received a credit of trust from market participants can soar high in a short time and create a couple of dozen new millionaires and billionaires. At the same time, a reasonable investor is far from the "casino principle" and understands that creating a serious state and preserving it requires deliberate steps and investments in truly promising technologies for a long period.Observing the newly appeared and so far extremely unstable cryptocurrency in its trend, for the current day it seems that the safest investments are in those instruments that will grow both on the wave of rising interest in the crypt, and during periods of recession and "sell-off". These are shares of companies that are somehow connected with the crypto market, but thanks to the wide diversification of activities, they are able to maintain their financial stability even in the event of a failure of the "crypto idea".In addition, the crypto market is an area that is already at the stage of overheating, so there is a risk that investments in this area in the short term will not bring investors super profits similar to those received by investors who became owners of cryptocurrency a year or more ago. However, this is not the only area that opens up wide opportunities for investors. But the list of industries that can radically change our lives tomorrow is far from being limited to those considered. In addition, we must always remember that the prospects of the industry does not directly determine the prospects of all the companies that form it. The investment value of a company is determined, in addition to the activity profile, by fundamental factors that can be identified only on the basis of an in-depth ...
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Which cryptocurrencies are considered the best for staking?
Which cryptocurrencies are considered the best for staking? At the moment, there are already over 100 cryptocurrencies on the market, with which you can take part in staking. In this article, we have described the most popular projects on whose coins you can earn the highest reward by participating in staking:Updated version of Ethereum 2.0UMICardanoPolkadotBinance Coin (BNB)SolanaAvalancheAlgorandTerra (LUNA)Updated version of Ethereum 2.0Reward for staking: 7.15% of coins per yearThe amount for freezing: 32 ETH (over 138.4 thousand dollars).The full transition of the updated system to the PoS algorithm is planned in one and a half to two years. Despite this, ETH is already considered the leader among the coins for staking. In December 2020, the zero phase of Ethereum 2.0 was held. For this, about 17 thousand validators contributed a minimum stake (32 ETH) and started working in the new Beacon Chain blockchain, thanks to which ETH staking is now available.ETH ranks second among cryptocurrencies by capitalization, repeatedly updating its price highs. The price of this digital currency has increased 13 times.As for the reward for ETH staking, it now brings about 7.15% of coins per year. With an increase in the volume of frozen coins in the staking, the reward will be reduced. For example, at the first stages, validators received 21.6% of coins. At the same time, it is important to remember that if ETH continues to grow, the profitability from staking will increase many times.Now it is still necessary to freeze at least 32 ETH to become a validator. In dollars, this amount is more than 138.4 thousand dollars.It is easier to stake new coins through exchanges such as Binance. On Coinbase, some users were also able to participate in ETH staking with a reward of 6% per year. Due to the fact that ETH cannot be withdrawn yet, exchanges offer users secondary coins tied to ETH (for example, BETH from Binance). There are also exchanges (for example, Kraken) that do not allow you to withdraw coins at all until the network is completely updated.Read more: Kraken IPO: what we know about the long-awaited IPOUMIReward for staking: 32% (SWARM Club) or 24% (ISP Club).Amount to freeze: –In our rating, UMI ranks first in terms of remuneration. Moreover, this platform offers instant transfers without commissions around the world. To date, the platform allows you to conduct about 4.4 thousand transactions per second. In the future, UMI will be able to achieve about 1 million operations. Moreover, UMI can create and execute smart contracts of any complexity level. Since the launch of the UMI digital currency in June 2020, the number of addresses on the network has exceeded 450 thousand. During the existence of the currency, 148 million coins were issued, 87% of which are involved in staking. UMI developers have made the staking process as simple as possible, understandable and accessible to any user. To participate in the staking, you need to create a wallet and join the pool: SWARM Club or ISP Club. The first one makes it possible to create about 32% of new coins per month, which may grow to 40% in the future. ISP Club gives 24% of new coins. It turns out that UMI staking allows you to earn the highest percentage of new coins.The blockchain works on the PoA consensus algorithm. Staking is based on a smart contract that monitors the fulfillment of all the conditions of staking, allows you to participate in the pool and transfers new coins to the UMI wallet. This technology has unique qualities:There is no need to freeze coins;Interest accrual takes place 24/7;The coins are stored in the wallet, i.e. they do not need to be transferred to the validator, and only the user has access to them;The exchange rate of coins is supported by liquidity in bitcoin. The developers of UMI put 365 BTC in a glass for the purchase of UMI at the rate of $ 0.95. Thus, the value of the digital currency does not fall below the set value under any circumstances. Among other things, UMI entered the DeFi market on the Uniswap crypto exchange. And this is not the end of development. The development team plans to add support for offline operations, release a number of decentralized applications and exchanges.CardanoReward for staking: 7.24% of coins per yearAmount to freeze: –This is a decentralized system, on which great hopes are placed. The project has been developed since 2015 under the leadership of Charles Hoskinson, co-founder of Ethereum.Until 2020, work was carried out on the launch of the Cardano system itself, as well as the ADA coin. In June 2020, the long-awaited Shelley update was launched, which allowed to activate the DPoS algorithm and stake coins at 4-5% per annum. Thanks to the launch of the update, the cost of ADA jumped by 430% over the year. In March 2021, the Goguen stage was also activated, after which users will be able to create their own tokens, launch decentralized applications, DeFi protocols and smart contracts. In total, Cardano is waiting for five stages of development.As already mentioned, the value of ADA showed an impressive increase, which put the currency on the 6th line in the CoinMarketCap rating by capitalization. According to many experts, the currency will continue to grow. Some believe that the coin will show a 10-20-fold increase by the end of the year. Such prospects are quite justified, because the system is waiting for two more updates, after which Cardano will become a decentralized environment. There are suggestions that all the updates will bring the blockchain to a technical level higher than that of Ethereum.According to statistics from AdaStat, more than 515 thousand users who transfer 23 billion coins are participants of ADA staking. In other words, ADA is the leader in the number of coins in staking.To become a member of the ADA staking, you need to join the staking pool or start your own (you should not resort to this if you are not an advanced user). At the moment, there are about 2.5 thousand pools operating in the system, and their number is constantly growing. You can join the pool through the Daedalus and Yoroi wallets. The reward is accrued every 20 days. At the moment, coin staking allows you to earn 7.24% of coins per year, but this figure is actually growing due to the constant hobby of the course. Of course, when connecting all new pools, the percentage will decrease.Read more: What is decentralized finance DeFi?PolkadotReward for staking: depends on the period of freezing coins, 30 days, the reward will be 13.15% for 30 days or 22% for 90.The amount for freezing: 10 thousand DOT (401.5 thousand dollars)This blockchain protocol makes it possible to launch and combine blockchain networks, which makes it unique. The team plans to make Polkadot the basis for the developed version of the decentralized Internet Web 3.0. Since its release in August 2020, the project currency (DOT) has grown almost 15 times. By capitalization, it ranks 9th in the CoinMarketCap rating. The validator must have at least 10 thousand DOT (401.5 thousand dollars) in his wallet, and therefore large pools or exchanges usually act as validators. Accordingly, if the user wants to stake, he needs to join one of the providers of these services, for example, the Binance exchange. The amount of remuneration depends on the period of freezing of coins. So, if you freeze the DOT for 30 days, the reward will be 13.15% per annum. If the period is extended to 90 days, the income can increase up to 22%.Moreover, Polkadot has released an experimental network Kusama, whose KSM token is on the 47th line of the rating by capitalization with a yield of approximately 13.8% per annum.Binance Coin (BNB)Reward for staking: 23.16% of coins per yearThe amount for freezing: from 10 thousand BNB (659 thousand dollars)This is the currency of the largest Binance exchange of the Binance Chain (BC) and Binance Smart Chain (BSC) networks. Users of the Binance Chain blockchain have access to cryptocurrency trading. And Binance Smart Chain (BSC) is designed for developers of decentralized applications and smart contracts.The BNB currency is used in Binance Chain to pay commissions on Binance DEX. In the BSC network, digital currency is needed for the deployment of smart contracts, coin exchange and staking.Since the beginning of its launch, the currency has soared to the third place in terms of capitalization, reaching a value of $659 per coin. The main reason for this growth is the transition of participants of DeFi projects from Ethereum to Binance Smart Chain, which works on a hybrid of PoSA (a mix of PoS and PoA). Validators do not earn rewards for freezing the currency, but receive commissions. To prevent inflation, the exchange permanently withdraws coins from circulation on a quarterly basis.In order to become validators on this site, the user must freeze from 10 thousand BNB (659 thousand dollars). After launching the node, the validator receives a reward of 23.16% per annum. Participants who delegate their coins can earn 18.39%.At the same time, there is no minimum threshold for them. It is also worth noting that the coin freezing period is only 7 days, despite the fact that rewards are paid every day.It is most convenient to stake BNB coins through the Binance exchange, for which you only need to create an account, buy coins and delegate them to validators.Read more: Binance: history, features, coins and verificationSolanaReward for staking: 10.63% of coins per yearAmount for freezing: 1This is a system that runs decentralized applications and smart contracts. The project of the site was launched in 2017. What makes this platform unique is that it works on two algorithms: PoS and its own PoH. PoH is based on the fact that the nodes of the network function independently, but at certain moments they must synchronize with each other. Therefore, Solana processes up to 191 thousand transactions per second, which, according to the development team, is not yet the limit.SOL, the project's currency, has been trading since April 2020. Since then, the price has increased 60 times, putting the coin on the 17th line of the rating by capitalization. Any user can stake a currency through a crypto wallet, both internal and third-party (for example, Ledger Nano). You also need to create an account for staking, the address of which is different from the address of the wallet. Alternatively, the user can delegate his coins to the validator (which, by the way, are 607 pieces), who pays a reward at his discretion. On average, the remuneration for SOL staking is 10.63% per annum. However, you can earn more by participating in staking through exchanges. So, the Binance exchange provides a fixed staking, in which the amount of remuneration depends on the maximum limit and the period of freezing of coins.AvalancheReward for staking: 23.16% of coins per yearThe amount for freezing: 2 thousand AVAX (81.8 thousand dollars) - for validators; 25 AVAX.It is a decentralized system for launching and exchanging tokens, smart contracts, decentralized and DeFi applications. The development team strives to ensure that users can exchange tokens and currency from different systems without any obstacles.The launch of the main Avalanche network occurred in September 2020 by the hands of AVA Labds, led by the creator of Bitcoin NG. In parallel, the AVAX coin was launched, which is the basic unit for paying for actions in the system. The rewards for staking are also paid in the native coin. Since September 2020, the value of the coin has increased 8 times (to $40.9). There were times when the cost jumped to $53. In addition, Avalanche provides a withdrawal mechanism ("burning") coins that were used to pay commissions for operations. It is important to say that in order to become a validator, the user needs at least 2 thousand AVAX (81.8 thousand dollars). Delegates must also pay a minimum steak of 25 AVAX. Coins are frozen for a period of 2 weeks to a year, and a commission (2%) is charged for delegation. You can steak AVAX through the Avalanche Wallet internal wallet. The remuneration of validators is 5.38%, and delegates-5.1%. At the same time, staking on exchanges can bring more income (for example, on the Binance exchange, staking 30 coins for 15 days will give the user 32.79% per annum).Read more: Overview of the Huobi Global ExchangeAlgorandReward for staking: 5-10% of coins per yearAmount for freezing: 1This is a decentralized payment platform launched in June 2019. It was developed by Silvio Micali, a Turing Award winner, a well-known cryptographer and professor at MIT. The network was developed for interaction with banks and the financial sector, and therefore it was created with the expectation of high transaction processing speed, security of network users and decentralization. Thus, Mikali and the team took a swing at solving these three problems simultaneously. The strength of Algorithand is its high speed, equal to 1 thousand operations per second. The blockchain system is based on a modified version of the PoS – PPOs consensus algorithm. In this regard, validators function in the network, launching nodes and verifying transactions, while there are no delegates. Thus, anyone who has at least 1 ALGO in a native wallet or in a wallet that supports this currency can take a stake. Staking allows you to earn 5-10% of coins per year, depending on which platform the participant uses: a native wallet, a third-party wallet or a crypto exchange.To stake a coin, you do not need to freeze it.Unlike the coins considered earlier, ALGO has fallen in price since its start. The coin can be found on many major exchanges, such as: Binance, Coinbase, Kraken, OKEx, Huobi, BitMEX and others.Read more: Guide to PoW, PoS, PoA: how consensus algorithms work in blockchainsTerra (LUNA)Reward for staking: 10.65% of new coins per yearAmount to freeze: –This is a decentralized payment protocol using algorithmic stablecoins tied to fiat currencies. The basic network of the project was launched in 2019. The project developers set out to give the market a unique ecosystem for the development of DeFi. There are coins in the system: Terra and LUNA stablecoins (a currency that plays the role of protecting the ecosystem from the volatility of the Terra exchange rate). The algorithm of the system works so that the balance of supply and demand of Terra is controlled, keeping the value of the coin at the level of 1 SDR (an international asset for the reserve, the price of which is determined by the exchange rate of the dollar, euro, Chinese yuan, Japanese yen and British pound). If the price of Terra falls below this level, the protocol automatically sells LUNA for the amount of 1 SDR and buys 1 Terra coin, and vice versa.Read more: Volatility: types, how to track and how to useToday, in the Terra system, you can find stablecoins linked to the dollar, the South Korean won, the Mongolian tugrik and the IMF basket of currencies.You can have a steak on the LUNA coin, the value of which was stable until the beginning of 2021. Since the beginning of this year, the price of the coin has increased 26 times, which happened for several reasons:The issue of dollar stablecoin has increased;The TerraBridge technology has been launched, which makes it possible to carry out transactions between the Terra, Ethereum and Binance Smart Chain platforms;The head of Galaxy Digital, Mike Novogratz, invested $25 million in the project.Staking a coin gives a reward of 10.65% per annum. In order to participate in it, you just need to download the Terra Station application (or go online), where you can use the delegation of coins to several validators. There is no minimum steak. Moreover, you can also stake a coin through the trading platforms Binance, Bithumb, Coinone, Huobi Global and BKEX.Read more: What are Stablecoins and how do they differ from other ...
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Which cryptocurrencies can significantly rise in price in 2021-2022?
Which cryptocurrencies can significantly rise in price in 2021-2022? The relevance of the topic is obvious, so you should not talk about it much. It is enough to recall the incredible growth in the value of bitcoin (from $0.001 in 2009 to $64,000 in 2021). Other new tokens, the cost of which at the time of writing is below $1, will also be able to demonstrate this. We will talk about them today.Attention! During 2021-2022, experts predict a significant increase in the capitalization of the crypto industry as a whole. This is largely due to the growing popularity of ICO as an effective tool for attracting investment in promising startups. This is a chance for novice investors who do not have significant capital. Today we will look at the three most interesting tokens from the point of view of potential profitability, which may significantly rise in price in the foreseeable future. They should be paid attention to first of all.Read more: What is an ICO?SIACOIN (SC) Today, this token can hardly be called a simple tool for virtual mutual settlements. Rather, SC is an innovative global platform for cloud data storage. The innovation of the project is not only in its decentralization, which provides a high level of security, but also significant privacy. Encryption systems are designed by developers in such a way that no one, including administrators and other employees of the service, can see the information stored by the user. The creators of the project managed to achieve similar results thanks to an innovative approach to data encryption: both the file itself and its individual parts are encoded.Today, the cost of the SC token is $0.01 (the increase over the past day was about 7%). The developers plan to make the project the main platform for cloud data storage in the world over the next 2-3 years. Successful implementation of the tasks set will guarantee a significant increase in the value of the SC token. Therefore, it makes sense to follow the news of the project. It is possible that in the foreseeable future we will see the headline in the news feed: "The cost of Siacoin has exceeded the $1000 mark”. Agree that it would be nice to participate in this.REDDCOIN (RDD) A new cryptocurrency that was released in 2021. At the time of writing, its cost is 0.001 USD. Altcoin is designed for social networks and will literally allow you to monetize traffic. Active use of RDD is a great opportunity even for novice bloggers to monetize author's content. Taking into account the growing popularity of blogging and social networks, the growth of the capitalization of REDDCOIN is only a matter of time.  Read more: What are AltcoinsOMISEGO (OMG) One more very promising altcoin. With its help, the user will be able to send funds in digital currencies to another country, while the addressee will be able to receive values in fiat money (USD, GBP, EUR and others). To date, the cost of the token varies in the range from 3.5 to 3.7 USD. In addition to the unique scope of application, investors are encouraged by the fact that Vitaly Buterin himself (the founder of Ethereum) is involved in the creation and development of the project. It is quite possible that within 1-2 years the value of the OMG token will be able to overcome the 100 USD mark. Such forecasts of experts are primarily due to the stable growth of the project's capitalization, as well as the high demand for the opportunities offered by the token.Conclusion  Of course, the article does not mention all new cryptocurrencies that are worthy of the attention of novice investors and not only, but the most interesting of them. ICO, as a tool for attracting investment for the implementation of innovative ideas, continues to steadily gain popularity. New and promising digital projects will appear regularly, so, of course, it makes sense to follow the news of the ...
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What is an ICO?
What is an ICO? ICO is a way to attract investment through the initial sale of a limited amount of new cryptocurrency. The required number of digital assets is generated in advance in an accelerated format.The main peak of popularity occurred in 2017 and even the crypto currency of 2021 could not block it.The cryptocurrency ICO is open on the tablet screen for participation.Advantages for project owners:financing for launch and/or development;the actual absence of supervisory authorities and the need for licensing in most countries of the world (unlike the classic IPO on the stock market);the ability to raise funds without having a minimally viable product on hand.The last point was one of the main reasons why the popularity of ICO lasted less than two years. Investors' benefit:selling coins at an increased price if the startup "takes off”;the opportunity to pay for the project's services and services on favorable terms in the future;support for ideologically close initiatives.Since this was another kind of crowdfunding, most of the money was invested by non-professional investors. As a result, projects with only a landing page and a business model sketched on their knees collected millions of dollars per day, after which the founders abandoned the site and stopped answering questions. Indeed, high-quality and viable campaigns with an established customer base could not even come close to such amounts.ContentNew types of ICOIEOIDOSHOIFOThe largest ICO sitesCoinlistWavesKickICONew Wave platformsICO Investment StrategiesProject analysis before investingThe most successful and unsuccessful ICOsNew types of ICOSince the ICO was an unregulated and unprotected system from fraud by startups, new investment models began to appear.IEOThe first exchange offer is an investment attraction with the help of a well-known and proven cryptocurrency exchange. For example, there are two sections of this type on Binance:LaunchPool. Investors invest in a convenient currency (BNB, DOT, BUSD, etc.) in the pool, which begins to work on the principle of staking and bring tokens of a new project. When the pool period comes to an end, they are listed on the exchange, after which they can be immediately sold.LaunchPad. In this option, participants must keep a certain amount of BNB on their account for several weeks, which then makes it possible to buy tokens of a new project within a few hours. There are also varieties with a lottery, when the opportunity to invest is played between participants on a random basis.Binance is responsible for each IEO with its reputation, so there is little danger of running into a dummy project.Read more: Binance: history, features, coins and verificationIDOIDO - tokensales that are held on decentralized platforms. To work, you will need a DeFi wallet of the MetaMask type. Access to investment pools is most often private. For example, on PolkaStarter, in order to participate in the drawing of a place, you need to hold coins of the base platform (in this case, 3000 POLS). There are many people who want to participate in each IDO, so even a rather large investment capital does not guarantee entry. In this case, investors are protected by a smart contract that will not allow developers to go “to the moon".SHOStrong Holder Offering is a format developed by DAO Maker, in which investors must hold the tokens of the previous one to participate in the next project. Thus, the platform supports the promoted crypto assets and protects them from a sharp drop in price during a mass sale. The reverent attitude is explained simply - the DAO independently selects and promotes projects for SHO.Read more: What is decentralized finance DeFi?IFOInitial farming offering - initial placement according to the farming model. To participate, you need to add tokens of the liquidity pool to the stake. For example, you can put $100 CAKE and $100 BNB on Pancakeswap for this. As soon as the IFO starts, new coins can be purchased for the received LP tokens. It often happens that the money collected is 100-200-300 times more than it was needed. In this case, each participant receives proportionally less than originally expected.The huge volume of oversubscription is explained by the low entry threshold.The largest ICO websitesCoinlistIt has been operating since 2017 and has managed to establish itself as one of the most reliable and profitable platforms for all parties to the transaction. Coinlist is the most famous platform for conducting ICO.Thousands of investors are lining up to participate in tokensales on Coinlist. And here's why.The platform checks all projects and selects only those that are really competitive in the real world, and not on paper.The collected money is temporarily frozen on the exchange's accounts, so that developers do not have the opportunity to abruptly disappear with their pockets full.Already conducted sales brought participants from 1.6x to 433.51x profit.Places are distributed in random order, so everyone has a chance.WavesBlockchain is an ecosystem with the function of conducting Initial coin offering. New tokens are created on the basis of the system, and crowdfunding companies are carried out within the same platform. Launched in mid-2016.KickICOA direct competitor to Coinlist. Here you can conduct crowdfunding, crowdinvesting, ICO and pre-ICO. A distinctive feature is that projects that do not plan to issue their own tokens can start collecting cryptocurrency.New Wave platformsUniswap. A popular DeFi exchange, where most of the token listings take place. The first placement took place in the summer of 2020. Due to the huge commissions of the Ethereum network, many events have moved to other blockchains.Binance. For the first time, the tokensale was held in 2019. To get into the favorites, you need to keep a certain token in the steak 7 days before the launch.Polkastarter. Launched at the end of 2020, the project has conducted more than 40 IDOS in the Polkadot network. The maximum increase in the value of tokens for all time was 37x (Exeed Me).PancakeSwap. DeFi is an exchange in the Binance Smart Chain network. 10 IFO were conducted on the pharming system.Solstarter. The launch pad of the Solana platform was launched in the spring of 2021. For 3 months, 210 thousand subscribers were added to the project's Twitter.ICO Investment StrategiesGlobally, there are three strategies.Three strategies for participating in the ICO.Speculative - "Buy and quickly reset". The most common model. Investors are waiting for a listing on the stock exchange, which is often accompanied by a sharp price increase, and sell assets at the peak. You can earn 100-300%, but if there was no strong surge, then they try to close on more modest figures of 50-100% of income. It will not work with poorly promoted projects, around which there is no excitement, an active community.Investment - "Buy and hold". For this purpose, serious projects are selected that can shoot strongly in 1-3 years. They should have a clearly defined roadmap, large-scale goals, and a functional demand for the token.Expectant - "Buy after ICO”. A common situation is that immediately after the listing, a huge amount of new cryptocurrency is thrown into the market, which is why the supply exceeds the demand. The price may remain in place or even sink compared to the start. Investors who believe that the coin will recover further and go up, buy it at the dumping stage. The danger is that the initial failure can completely bury the coin, reducing its market capitalization and community trust several times.Project analysis before investingDemonstration of the analysis of cryptocurrency projects before the ICO. To minimize the risks, it is necessary to analyze the startup according to the following parameters.WhitepaperA document that explains in detail the creation of a token, its goals and objectives, the method of sale and distribution, how it will interest the crypto community. There should be both general ideas and small technical details. If there are few specifics, and there are a lot of loud vague promises, then it is worth delaying investments.RoadMapThe roadmap specifies all the stages that the company hopes to achieve and the timing of their implementation. You can immediately assess the scale and prospects of the project. The more precise the goals, the better the developers understand their tasks.Financial planInformation should be provided about the target and maximum amount, the number of tokens held by the team, and the possibility of further issuance. If developers receive most of the coins before the ICO, this may have a bad effect on their further motivation.TeamIdeally, the site should provide information about all participants. Names, age, education, knowledge, work experience, social media profiles. If there is only data about 2-3 founders, then this is a reason to be wary. The presence of famous people greatly increases the chances of success.CommunityProfessional developers promptly answer questions in messengers, on thematic forums and on the website. There should be an active account on Twitter or Medium, where news, clarifications, messages about new developments, etc. are regularly added. It is a good sign if ordinary users constantly discuss the project, express opinions, and consult on various sites.Progress It is important to understand whether the team is really developing new code or it is just marketing stories. The roadmap partially helps with this, but additional control is also desirable. Since many developers keep the source code and work on it on GitHub, it is worth looking there periodically.CompetitorsMost likely, the project already has analogues. To check, it is enough to open a list of the top 30 largest tokens and compare it with the offer of a beginner. It is possible that the existing product already covers the needs of the market.With a successful investment, you can earn really big money. For example, the record price increase with a long-term strategy was 11,547,519%. These crazy numbers were demonstrated by one of the first ICOs in history. The NXT coin was sold for $0.0000169 in 2014, and in 2017 it was already worth $1.94. There were other bright launches.The most successful and unsuccessful ICOsEthereumIn 2014, the platform raised $18.5 million. Since then, Ethereum has received the status of the second world cryptocurrency after Bitcoin, and a huge number of new platforms, services, tokens and applications have been created on its basis. The initial price was 31 cents, and the historical maximum reached the level of $4142.Decentralized Autonomus Organization (DAO)A decentralized investment fund based on Ethereum has sold more than $150 million worth of coins. This exceeded the original goal by more than 7 times. The problems began six months later - a hacker broke the platform's code and withdrew more than $50 million from the accounts. Ethereum specialists managed to roll back some of the transactions, but reputational damage eventually sank the project.EOSDeFi-system received $185 million for 5 days of placing its token. A couple of weeks after the listing, the price fell twice, but six months later it increased 4 times, and two months later it reached a 7-fold increase in the price. The market capitalization for 2021 is more than $3.4 billion.BitconnectThe cryptocurrency exchange with its own lending tool was included in the top 20 projects by capitalization in 2018. In fact, it turned out to be an ordinary pyramid, which collapsed as soon as the inflow of investments decreased. The founders closed the project and disappeared with the money.CentratechThe project raised $32 million under the promise to issue a bank card for cashing coins. The famous boxer Floyd Mayweather participated in the advertisement, a partner with VISA and MASTERCARD was promised. In fact, no negotiations and developments were conducted, but just a collection of money was held on the principle of " take it while they give it”. When the supervisory authorities became interested in the company, it was already too late.Given the vulnerability of investors in classic ICOs, it can be assumed that in the future they will be completely replaced by IEO (initial exchange offer) and STO (Security Token Offer). The second method is most likely not soon, since the issue of protected tokens is much more expensive than the standard ...
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What are CBDC and why do central banks need them
What are CBDC and why do central banks need them Today, 80% of national financial regulators are interested in digital currencies of central banks (Central Bank Digital Currency, CBDC), and 40% have already started testing CBDC. According to forecasts, from three to five countries of the world will fully implement CBDC by 2030.What is CBDC?The digital currency of the Central Bank (Central Bank Digital Currency) is a digital form of fiat money (the value does not come from its own value and the guarantee of exchange for gold, but from a state order), the issuer of which is the national central banks. In theory, CBDC can be used for all types of payments using various technologies.CBDC is created and fully controlled by the Central Bank of the country and is a legal tender, unlike digital currencies, virtual currencies and cryptocurrencies (decentralized Bitcoin and Ethereum and centralized Ripple and Cardano).CBDCs are usually backed by national currencies in a 1:1 ratio and can be exchanged without restrictions for cash or non-cash funds. That is, one e-euro, one digital yuan or one digital dollar will be equal to one euro, one yuan or one dollar.Read more: Fiat moneyCBDC ModelsWhen we talk about CBDC, we usually mean a centralized model, according to which the issuer of the digital currency is the central bank. He is the owner and operator of a single centralized register with CBDC, controls and sees all transactions with the digital currency of the central bank. Validation of an operation (the decision to include any operation in the register) is made solely by the central bank. Repayment and settlements are also guaranteed by the central bank.Under this scheme, other non-bank financial institutions and banks are agents for the settlement and distribution of CBDC. They provide customers with access to the central bank's unified platform through their resources and offer other CBDC services (for example, they create applications for mobile devices that provide convenient analysis and viewing of transactions).At the same time, there is also a decentralized model where CBDC can be issued by banks and non-bank financial institutions under the control of the central bank. This model assumes that the accounting of wallets and CBDC operations is conducted in a decentralized manner — in the systems of each issuer. And the central bank provides the possibility of using the digital currency of one issuer in the networks of merchants and / or agents for settlements of other issuers and settlements on transactions in the CBDC between issuers. However, the decentralized model cannot be called a digital currency of the central bank in the classical sense.Why the boom in digital currencies of central banks beganThe Central Banks of the world began to analyze CBDC since the mid-2010s. Experts say that the interest in digital currencies of central banks was largely caused by bitcoin and cryptocurrency in general.The first case of successful implementation of CBDC is called the project of the central bank of Ecuador, which existed from 2014 to 2018. The system with digital currencies worked through mobile phones, and not through the blockchain. However, the program was closed due to a small level of involvement of citizens.In the second half of the 2010s, the central banks of England, Sweden and Uruguay reported on the interest of CBDC. The People's Bank of China, which has made the most progress in launching the digital yuan today, claims that it began analyzing the CBDC back in 2014-2015.However, the real boom in digital currencies of central banks arose in 2019, when large private players began to share plans to create their own crypto assets. The announcement of the Libra cryptocurrency (now Diem) from Facebook forced central banks to pay attention to the status of stablecoin (cryptocurrencies that are tied to stocks of ordinary currencies or physical goods and whose exchange rates are subject to less fluctuations than the rates of typical cryptocurrencies). Financial regulators feared that they were jeopardizing the leading role of central banks.Following the meeting of the central banks of the G7 countries with the management of the largest stablecoin projects (Libra Association, JP Morgan and Fnality International) The European Commission, the European Council and the Bank for International Settlements issued an official statement saying that stablecoins are a source of risks, so they need to be properly identified, evaluated and regulated, and until then the EU will ban the issue of stablecoins on its territory.Read more: What are Stablecoins and how do they differ from other cryptocurrenciesAt the same time, the EU leadership called on central banks to consider the possibility of issuing their digital currencies, which confirms the role of stablecoins as a kind of catalyst for the introduction of CBDC. Last year, the central banks of Sweden, Switzerland, the United Kingdom, Canada, Japan and the European Central Bank and the Bank for International Settlements created a working group to study the CBDC, which will focus on economic, technological and architectural issues.In early June, the European Central Bank (ECB), in a report on the international role of the euro, pointed to the risk of losing monetary sovereignty if tech giants and large corporations launch their own digital currencies in the absence of such currencies from regulators. At the same time, the CBDC will increase the global status of the currency in which it is denominated, in particular, if it is adopted in countries with unstable currencies, the ECB noted."We should pay attention to the risks to stability that may arise if the central bank does not offer a digital currency. One of the problems may be a situation in which domestic and international payments are dominated by foreign providers, including foreign technology giants, who will potentially offer artificial currencies in the future. This can not only threaten the stability of the financial system, but also individuals and companies that will be vulnerable to a small number of dominant suppliers with strong market power. The ability of central banks to fulfill their monetary policy mandate and the role of the lender of last resort will also be disrupted. The CBDC issue will help preserve the autonomy of domestic payment systems and the international use of currency in the digital world" - the 20th annual review of the international role of the euro from the European Central BankAnother trigger for the development of CBDC was the coronavirus pandemic, which encouraged people to give up cash because it can be a source of infection. In addition, there has long been a deep trend in the world to switch to cashless-not only because of convenience and economy (issuing, collecting cash is expensive), but also because cash feeds the shadow economy and criminal business.Read more: The European Central Bank (ECB)Who has made the most progress in launching CBDCToday, the central banks of China (DCEP or digital yuan), Sweden ("e-krona"), Canada (the "Jasper" project), Japan (digital yen, and together with the ECB the "Stella" project), as well as Uruguay (e-peso), South Africa, Ecuador, the Netherlands, Great Britain, Finland, Indonesia, Australia, New Zealand, Spain, Portugal, Poland and Korea, the Bahamas (Sand Dollar) and Brazil are experimenting with CBDC in one way or another.China has made the most progress in creating a CBDC, which has long been testing the digital yuan in six major cities and has generally issued and distributed DCEP to people in the equivalent of $39 million.Great resistance in the introduction of CBDC was demonstrated by the States, which were afraid that the digital currency of central banks (in particular, the People's Bank of China) would deprive the US dollar of its dominant status in global finance. However, in May, the head of the US Federal Reserve System, Lael Brainard, announced the growth of the Fed's interest in the CBDC and announced the release of an official document on the digital dollar in the summer of 2021.According to Bison Trails, about 80% of central banks are exploring options for using CBDC, and 40% of central banks are testing their digital currency in one way or another. The forecasts of the Dutch analytical center dGen indicate that by 2030 from three to five countries of the world will introduce CBDC. dGen also predicts that the euro will be displaced by the Chinese digital yuan project if Europe does not develop its own CBDC by 2025.Read more: How to invest in stocks and what you need to ...
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What is KYC & the registration procedure on the cryptocurrency exchange
What is KYC & the registration procedure on the cryptocurrency exchange The term KYC means Know Your Client. If you want to register on a reputable cryptocurrency exchange, it is quite possible that you have heard about the term KYC. It is not something new – it has long been used in the banking sector and fintech. And now KYC is an integral part of Blockchain technology. Let's find out what KYC is and how to pass the identity verification procedure when registering on a crypto exchange.ContentWhat is KYC?How does KYC work?The first step is to confirm your email.The second step: personal information.The third step is to confirm your identity.The fourth step: the address.Why is KYC important?Is it a necessity or a burdensome task (for clients)?KYC and user-friendlinessWhat levels of KYC policy exist?No KYCStandard KYC procedureFull KYC procedureIs decentralization decreasing due to KYC?What is KYC?KYC is a mandatory identity verification procedure. In fact, this means that the exchange developers know who is working on the platform. Theoretically, it is quite simple to implement this. But as soon as it comes to practice, it turns out to be much more difficult.First of all, state regulators require banks and other financial institutions to have a KYC system. However, it is not specified anywhere what such a system should look like. So, sometimes it is required to provide a minimum package of documents and personal data:Name & surname;residential address;TIN / passport / driver's license;country of residence;date, month and year of birth.Confirmation of the specified data is also often required. This can be a photo with a passport in hand, a receipt for payment of utility services, etc. At the same time, each institution independently chooses the criteria for passing KYC. Therefore, even two identical, at first glance, platforms may have different identity verification algorithms.How does KYC work?Now we will go through the verification protocol itself. There are 4 stages of the KYC procedure:The first step is to confirm your email.This is important when creating an account on any platform, because an email address is needed to access the account.The second step: personal information.As we said earlier, the list varies from site to site. At the same time, mistakes in spelling should not be allowed, because all the data must match the documents provided. Often, the user's full name, date of birth, phone number and nationality are required from the user.The third step is to confirm your identity.Here you must provide the original document that confirms your identity (previously specified in text format). Often the standard document is a passport, but you can use a driver's license, a pension / student certificate, etc. In other words, it can be any document that contains your passport data and a photo.The fourth step: the address.At this stage, the user uploads a photo of a document to the cryptocurrency exchange, which confirms the registration address. Both a photo and a scanned copy are suitable. An important point is that the user name must be specified in the document. Suitable for confirming a residence permit:receipt for payment of utility services;payment receipt for communication services;bank statement with a confirming signature and seal;a certificate from the tax service.At first, verification seems quite difficult. However, it will not take much time. It is enough to provide the necessary documents and personal data that will be needed for further activities on the cryptocurrency exchange.Why is KYC important?The main purpose of identity verification is to prevent cases of money laundering or transfer of funds to criminal groups. This issue is especially relevant now, because digital currencies are widely used to finance illegal activities. The reason is simple – complete confidentiality and decentralization of digital currencies. KYC also allows the authorities to access user data on crypto exchanges.According to a number of studies, many times more suspicious transactions take place on exchanges without KYC than where even basic identification is used.Is it a necessity or a burdensome task (for clients)?Sometimes regulated exchanges are forced to carry out the “Know Your Customer " procedure. However, understanding what customers use the trading platform for helps in many ways.According to the CoinMarketCap portal, there are much more transactions between traditional currencies and crypto from verified traders than those made by users with an unconfirmed identity.And now such data is very valuable, because new traders and investors will be more likely to use safe platforms to start their cryptocurrency activities. Therefore, we can safely assume that the introduction of the KYC procedure increases the confidence of legal entities who want to master a new financial market.KYC and user-friendlinessThere are a number of studies that prove the need for ease of passing KYC. Also, the appearance of the identity verification procedure may become an important stage in the transition to the mass use of cryptocurrencies.  KYC protects buyers and sellers from fraud, thereby instilling confidence in both categories of players.Identity verification is also important for those who buy goods online. After all, how do you know if you will buy a real product for bitcoins or not? This is where the KYC procedure comes to the rescue.What levels of KYC policy exist?As we have already said, the requirements for identity verification vary from platform to platform. However, there are three main levels of the KYC protocol:No KYCSuch sites will not require you to have an identity card. However, more stringent restrictions may apply here.Standard KYC procedureIt is used by certain exchanges and allows you to make transactions for a minimum amount. To do this, you need to provide some data – first name, last name, email, phone number and country of residence. The list is approximate and may vary. Such a verification protocol allows you to buy crypto using a bank card or electronic payment systems (for example, PayPal). At the same time, the platform itself and the payment service provider will have the opportunity to share your data.Full KYC procedureBy providing a full package of documents and personal data during verification, you can access the entire functionality of the site. Often, you will be required to have a passport or driver's license with a photo, as well as a receipt for payment for communal services or a bank account statement that was issued within the last 3 months.Is decentralization decreasing due to KYC?Some users may think that the identity verification procedure does not comply with the precepts of Satoshi Nakamoto. Despite the initial use in banks and insurance companies, KYC is now being quietly applied on decentralized platforms.At the same time, the presence of control from people or artificial intelligence does not necessarily make the exchange centralized. Firstly, such a platform remains independent, but at the same time it is possible to monitor transactions and track possible money laundering. Therefore, some analysts call the popularity of digital currencies a response to the gradual elimination of the black market.The increase in the number of sites that require KYC will not affect the decentralization of digital currencies in any way. On the contrary, secure platforms will begin to attract even more users, and governments and banking structures will begin to trust the crypt more.Read more: Who is Satoshi ...
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What are Altcoins
What are Altcoins The crypto industry continues to develop rapidly and the total number of virtual coins has exceeded the mark of 10,000 projects. The main goal of the release of a new digital asset is the desire of developers to create an independent payment network for fast and secure mutual settlements.The most popular crypto coin is still considered to be the patriarch of blockchain assets Bitcoin. This is the universally recognized king of cryptography, maintaining its status as the first and most expensive cryptocurrency on the market. Its name has become synonymous with the term cryptocurrency, but there are also many alternative projects.Read more: When Bitcoin appeared: telling the story of BTCPeople who do not have practical skills in working with virtual financial instruments are poorly versed in all the nuances of this area. Therefore, they often know almost nothing about the existence of other digital currencies with high potential. Having scrupulously studied the innovative sphere of blockchain technologies and digital payments, the user will learn about alternative cryptocurrencies to bitcoin, belonging to the altcoin category.Before investing money in any crypto project, you need to understand what this digital currency is. We will now present you a detailed overview of the characteristic features of violas and brief stories of the most popular projects.ContentWhat is Altcoin?Feature of coinsTypes of altcoins and mining methodsTOP 10 popular altcoinsWhat do you need to know before investing?Where can I buy altcoins?Where to store altcoins?ConclusionWhat is Altcoin?In simple words, alcoins are all cryptocurrencies except Bitcoin. The first Bitcoin virtual coin, created in 2008 by the legendary Satoshi Nakamoto, remains unique and unrepeatable, but progress cannot be stopped and inspired by the success of the first blockchain project, cryptographers began to develop alternative payment networks. They strive to make cryptocurrency payments even faster and more reliable, introduce innovative technologies in all spheres of life, and transfer the world economy to cyberspace.Read more: Who is Satoshi Nakamoto This is how modified digital coins with different purposes appeared. They use their own unique blockchain networks for their work, and are not copies of the first cryptocurrency. Of course, there are virtual coins that have arisen as a result of a branch of the main Bitcoin chain, that is, modified copies, or as they are also called in another way, hard forks, but this is still a separate category. We are now talking about completely new resources created on an individual basis. New altcoins can either directly compete with bitcoin as a means of payment, or be created for other purposes. All this abundance of virtual payment assets can be designated by the term altcoin, which means "alternative coin" in translation.Many altcoins are very similar to bitcoin in that they:They are created during the mining processThey are based on a peer-to-peer network, and, therefore, are completely decentralizedThey strive to offer a cheaper and more efficient way to make transactions and purchases on the Internet.Altcoins have become extremely popular recently due to the rise in Bitcoin prices and the expensive mining process. Bitcoin mining has become almost inaccessible for most users, so crypto enthusiasts choose more economical options. Some altcoins do not represent anything special at all, but only try to replace Bitcoin. Others, such as the same Ether, were developed with the goal of becoming a worldwide computer and can be used as a platform for creating decentralized applications. Some alternative crypto projects are experimenting with code or new security features that can later be implemented in the bitcoin protocol.There are also fundamentally other types of altcoins, these are stable coins, security tokens and service tokens.Stablecoins are coins tied to an existing asset, such as the US dollar or euro. The meaning of linking a virtual coin to a traditional financial asset is a real reduction in the volatility of the exchange rateSecurity tokens are a form of investment contract that gives the consumer the right to participate in the management of the company and the distribution of profits. They are usually related to business, so there are stricter rules for the purchase and transfer of security tokens.Service tokens provide the user with access to a particular web service. For example, Filecoin token holders can spend cryptocurrency to gain access to the Filecoin decentralized peer-to-peer network, which stores files on the Internet.Not all altcoins were created with serious intentions. There are coins dedicated to dogs (Dogecoin), potatoes (Potatocoin) or Kanye West (Coinye). But, even such "comic" cryptocurrencies, under certain conditions, can get into the TOP 10 of the rating by capitalization, which was demonstrated this year by the digital asset Dogecoin. One video on the social network Tiktok and a couple of tweets from Elon Musk was enough for a native. The meme cryptocurrency, which had not previously risen above $ 0.01, suddenly rose sharply to $ 0.731578 in 2021. However, then the exchange rate fell somewhat, nevertheless, the Great Dane is ahead of such well-known altos as Ripple, Bitcoin Cash, Litecoin in terms of capitalization. The dog coin has copycat projects, the most famous of them is the Shiba Inu token issued according to the ERC-20 standard.Read more: What is Litecoin?This year, the alternative coins Polygon (MATIC), Solana (SOL), Cardano (ADA) and a number of other young projects also showed quite high growth. Of course, not in every case, altcoin becomes more expensive only because a certain group of major market players showed a purely speculative interest in it. Many promising coins have been issued that are really trying to compete with bitcoin and offer very interesting solutions to the problems of practical use of distributed ledger technology. But at a time when the market is so-called "overheated" and the sharks of crypto trading are in a hurry to increase their capital, such projects often fall into the category of undeservedly forgotten. It happens that this is facilitated by a weak marketing policy of the team.Formally, altcoins do not depend on the state of affairs of the main cryptocurrency BTC, their value is regulated by the law of supply and demand. But this rule partially works with respect to well-known and well-promoted blockchain projects. Young cryptocurrencies and underdeveloped systems that have failed to withstand competition and occupy a worthy niche in cyberspace react harshly to the fluctuations in the exchange rate of digital gold – Bitcoin. However, to one degree or another, the volatility of bitcoin affects the entire cryptocurrency market.Read more: What are Stablecoins and how do they differ from other cryptocurrenciesFeature of coinsCompared to fiat money or bitcoin, altos have a number of positive aspects that arouse the interest of large investors and ordinary users.Altcoins are:Convenience and accessibility in use;Good liquidity;Higher execution speed than Bitcoin transactions;Cheap mining equipment;High level of privacy;Stable access to financial instruments.Altcoins have an improved program code that allows you to expand the possibilities of using cryptocurrency.Of course, altcoins are not without drawbacks. First of all, it should be noted:Abrupt fluctuations in the exchange rate. Investors react violently to the news of the crypto market, statements of politicians and business sharks. Fluctuations in quotations and prices provoke the most insignificant changes and innovations of the blockchain industry. One or two comments from influential people on Facebook or Twitter can seriously affect the course of altcoins and decide the fate of a young project.There is a high risk of losing the trust of the community. Promising altcoins are growing in price due to the increased interest of depositors. But their position is unstable and at the first error, investors can panic and literally bury a very promising altcoin.Transactions in any cryptocurrency are irreversible. Having taken possession of the private keys from the wallet of a careless investor, a fraudster will easily steal funds. Even if the private key is simply lost due to carelessness, the money will be frozen forever.A certain part of the new altcoins, in general, belongs to the category of coins that have no value. They are created only to lure money from potential investors, taking advantage of the low media literacy of society and the reluctance of users to study the basics of blockchain technology and the distinctive features of a particular crypto project.Read more: Mining farm for cryptocurrencies. How to build a farmTypes of altcoins and mining methodsAll altcoins can be divided into groups according to their hashing algorithm and the method of protecting the network. Blockchain engineers have developed dozens of hash algorithms, the most common are:SHA-256;Ethash;Scrypt;Equihash;CryptoNight;X11;X17/X15/X13/X21S/X25X;X16Rv2/X16R;Neoscrypt;Lyra2REv2;Blake256/Blake2S/Kessak.RandomX;Octopus;Autolykos;Vetchain.KawPow.ProgPow;BeamHash;Cukatoo;CukooCucle;MTP.Read more: What is SHA-256The vast majority of altcoins have been created on the basis of these cryptographic hash functions.According to the method of network protection, or to put it another way, according to the consensus algorithm, alcoins are divided into Proof-of-Work (PoW) and Proof-of-Stake (PoS).In networks that use the proof-of-work algorithm, miners are engaged in verifying transactions and creating new blocks. This is the name of the owners of computing power involved in the process called mining. Altcoin earned in the process of mining, they sell on exchanges or postpone for a long time in anticipation of the take-off of the course. Miners are constantly looking for promising altcoins to earn money, most popular crypto networks can not do without their participation.Systems running on the proof of ownership (PoS) algorithm delegate the authority to verify transactions and create new blocks to validators. To become a validator, you need to have a certain number of network tokens on your wallet and install a special program on your PC. In some cryptosystems, validators are elected by universal suffrage or appointed by the project administration.Some cryptosets use other security algorithms, which by and large are modifications of Proof-of-Stake, or integrate both methods of achieving consensus at the same time.The issue of tokens and the method of issue depends on the program code of the cryptocurrency. For example, in the second most powerful blockchain ecosystem after bitcoin, Ethereum, there is no limit on the maximum number of coins issued. In many other systems, the number of coins is limited. At the same time, they can be extracted gradually in the process of PoW or PoS mining, or they can be issued at the same time when the network is launched. In this case, the reward for generating blocks and processing transactions is paid exclusively at the expense of commissions for payment operations.Read more: Guide to PoW, PoS, PoA: how consensus algorithms work in blockchainsTOP 10 popular altcoinsWhen compiling the rating of alternative cryptomonets, the following characteristics are taken into account:Coin prices on exchanges and the market capitalization of the network.Ease to use.The dynamics of the course and the prospects for the development of the project.If the list of leaders has been almost unchanged over the past three years, then in 2021 there were serious changes in the market of alternative coins. The top ten largest altos by capitalization included Dogecoin and Cardano cryptomonets, Binance Coin and Uniswap exchange tokens, as well as new-generation blockchain projects Polkadot and Internet Computer (ICP).If the success of Binance Coin was well deserved and expected, then the rest of the projects still need to prove that they rightfully took their place at the top. Cryptocurrencies came very close to them: Chainlink, Solana, Polygon, Theta, Vechain and Filecoin.Read more: Binance: history, features, coins and verificationBut the cryptocurrencies Dash, Monero, ETC, XML, Tron and EOS have significantly decreased in the rating. Nevertheless, it is too early to discount these blockchain projects, each of them may well return to the top ten.So, the TOP 10 altcoins:Ethereum;Binance Coin;Cardano;Doge coin;Ripple;Polcadot;Uniswap;ICP;Litecoin;Bitcoin Cash.You can talk for a long time about the advantages of using each of the coins, but if you talk briefly, it should be noted:The market capitalization of most of the above-mentioned blockchain projects exceeds a billion dollars. However, in the current period, 71 cryptocurrencies have such a level of capitalization.All coins have good liquidity, are traded on popular crypto exchanges and in online exchangers. Each of them can be easily exchanged for bitcoin or withdrawn to fiat.The owners have no problems with storing cryptocurrency data. Official and multi-currency altcoin wallets are supported, each of the tokens can be stored in a Ledger hardware safe.Project developers do not sit idly by, each of the networks is dynamically developing and finding application in real life.It is not yet possible to exchange Cardano, Binance Coin, Polcadot, Uniswap and ICP coins that have recently entered the top ten for ordinary money in online exchanges. At least, in those that are on the list Bestchange.ru. To buy, we recommend using the Binance exchange.You can read more about the characteristics of each of the 10 cryptocurrencies in the thematic reviews on our website.Read more: Blockchain technology: how it works and where it is usedWhat do you need to know before investing?An inexperienced investor can easily get lost from the wealth of choosing alternative cryptocurrencies. As a result, he will either invest money in some scam project, or he will not pay attention to the altos at all, investing everything in Bitcoin. In the first case, he will simply lose money. And in the second, not wanting to buy an altcoin, which will soon rise in price, may miss the maximum benefit and wait a very long time for the rise in the value of digital gold. However, the second option is not hopeless at all, the cost of the BTC cryptocurrency will increase, but successfully investing in altos, you can earn more and much faster. At the same time, you should pay attention to the following criteria:The goals of creating a cryptocurrency and technical parameters.If you want to invest in a particular project, read the white paper and the roadmap, evaluate the prospects.The reputation of the founders and partners of the project.The liquidity of the coin on the exchanges.Reviews in social networks and comments from recognized experts.And most importantly, weigh the risks and do not get into debt, hoping for a quick profit. Invest exactly as much as you are afraid of losing.Read more: Everything you need to know about Ethereum (ETH)Where to buy altcoins?Each of the altcoins undergoes the listing procedure at least on one cryptoplatform of digital money exchange at launch. As the popularity grows, other exchanges include the coin in the number of trading pairs.We recommend using only popular exchanges for buying coins that have earned a good reputation: Binance, Huobi Global, Bittrex, Exmo or ProBit Exchange.After a simple registration on the Binance exchange, install additional account protection. For full-fledged trading, go through account verification and download the app to your phone. This exchange is considered the best trading platform in the world, fast support solves any problems of users.Read more: Overview of the Huobi Global ExchangeWhere to store altcoins?The presence of an official wallet is one of the signs of a reliable altcoin. Although such a well-known cryptocurrency as Ripple does not have an official wallet, and in principle, the most reliable way to store any cryptocurrency is Trezor or Ledger hardware safes.For a list of applications that work with a particular coin, see the developers ' website and in reviews dedicated to a specific digital currency. The most unreliable place for placing altcoins is the deposits of crypto exchanges. However, if you do not plan to keep the coin for a long time, then send it immediately to the exchange to put it up for auction.ConclusionIt is no secret that with the introduction of blockchain technology and the arrival of bitcoin, we came across a virtual portal leading to a completely new world of opportunities not only in the financial sector, but also in almost all spheres of life.Alternative coins have helped expand the cryptocurrency space. The growth of altcoins in the market over the past few years has significantly improved the perception of digital assets. Humanity is constantly working to create a new, more perfect system. With the appearance of new ideas and problems that arise every day, it is difficult to immediately get something ideal. The technology is constantly being improved, and altcoins help to find innovative and justified solutions.It is not difficult to make a general forecast of altcoins in principle, they will never disappear. Having appeared shortly after the first Bitcoin cryptocurrency, they competed with it and stimulated the development of the blockchain industry as a whole. Of course, all altcoins 2021 from the huge list of Coinmarketcap will not exist forever.Garbage projects will close quickly, those who can't stand the competition will also eventually go bankrupt. But, there will always be several alternative networks to the main cryptocurrency, as well as niche blockchain projects. It is difficult to say whether the altos will be able to displace bitcoin or not, but the emergence of a new leader will only increase competition and mark the beginning of the next stage of the technological ...
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