Crypto use cases

The bottom fell out from one of crypto’s fastest growing blockchains, LUNA, which promised to succeed where bitcoin failed. Its predictable collapse reverberated across the entire crypto market and is forcing investors to pick up the pieces. C rypto’s history has been defined by five resets. The first came in 2014 when what was basically the only bitcoin exchange in the world, Mt. Gox, imploded following a nearly half-billion-dollar hack. The second, in 2016, was The DAO hack, when an attacker tricked a smart contract into giving away $60 million worth of ethereum, worth $8 billion today. The third, in January 2018, occurred when the ICO bubble popped, starting a year-long decline wiping out 60% of the crypto market or more than $700 million mostly in the form of worthless junk tokens. The fourth took place in March 2020 when crypto lost 40% of its value along with most other global financial markets. Each reset not only led to price-market capitalization increases, they … [Read more...] about Crypto’s Great Reset: How Digital Asset Investors Will Recover From The Market’s $1 Trillion Meltdown

Share to Twitter Share to Linkedin The Securities Exchange Commission (SEC) of Nigeria has published new rules relating to the issuance, exchange and custody of digital assets in the country. This comes 20 months after the Commission initially issued a statement on how it would classify and treat digital assets. “Digital assets” is a catch-all term for all types of crypto assets. SEC’s position is in stark contrast to that of the Central Bank of Nigeria (CBN), which currently restricts local financial institutions from doing business with crypto-related businesses. Notably, the new SEC rules require token issuance platforms and exchanges to maintain trust accounts with receiving banks. Overall, this development could bring legitimacy to crypto and related businesses and ultimately open new doors for crypto usage in Nigeria, which is one of the leading countries for crypto adoption globally . SEC’s rules could also provide the CBN with a framework … [Read more...] about Nigeria Issues Crypto Asset Rules In A Move That Could Boost Adoption

Share to Twitter Share to Linkedin Technical analysis has become a go-to strategy for many traders to build strategies and gauge market strategy. It is a broad subject, but at its core technical analysis relies on the use of charting tools and indicators to gauge market momentum and trends. This information can then be used to identify buy and sell signals, as well as getting an early sense of when market sentiment is starting to shift. However, technical analysis is not without is criticisms, especially when it comes to crypto. Indicators can be wrong, or send off conflicting signals. Additionally, crypto’s relatively short lifespan, especially beyond Bitcoin and Ethereum, provide little historical data to test strategies and assumptions. Additionally, concerns surrounding wash trading and market manipulation, although know unique to crypto, can be problematic. One of the industry leaders in providing crypto-specific technical analysis is Katie … [Read more...] about How Technical Traders Apply Their Expertise To Crypto Markets

Share to Twitter Share to Linkedin A large number of recent Ponzi schemes have used decentralized finance (DeFi) infrastructure to defraud their customers. This article explores the DeFi ecosystem and how fraudsters are able to exploit it to steal from crypto newbies. DeFi is a broad term for financial infrastructure and financial services provided on public blockchains via smart contract technology. Ether ETH eum, Binance Chain, Cardano ADA , and Solana SOL are among the most popular smart contract blockchains, allowing developers to create dApps (decentralized applications) on their network. These dApps can be used for a variety of purposes, but the majority of them are financial in nature, giving rise to the term "DeFi." DeFi development has progressed to the point where token creation templates exist, allowing anyone to create a token in a matter of minutes without any programming knowledge or experience. This opens the door to a Pandora's … [Read more...] about How The DeFi Space Has Become A Massive Breeding Ground For Crypto Ponzi Schemes

LedgerX co-founder Paul Chou is building on the sale of the company he created by raising capital for a new kind of cryptocurrency that can be spent on Earth, the Moon, Mars and beyond. I t’s just before midnight on a rainy autumn Friday. Paul Chou and his entourage dodge puddles on the runway of the Teterboro Airport in New Jersey as they board a Gulfstream private jet bound for Las Vegas. The flight attendant cracks open a bottle of champagne and with a nod welcomes the passengers aboard. The girls disappear into the back and emerge minutes later wearing sequined cocktail dresses and feather boas. Sensing she’s in for a party, the attendant offers a round of tequila shots just as the inertia from the plane taking off to the Bellagio Hotel & Casino forces her laughing into her seat. Ostensibly, Chou, 38, is celebrating not only his birthday but the sale for an undisclosed amount of LedgerX, the ground-breaking bitcoin derivatives firm he co-founded with his wife in … [Read more...] about Bitcoin Trailblazer Raises Capital To Create Interplanetary Cryptocurrency

Share to Twitter Share to Linkedin When you purchase Bitcoin from a centralized exchange, you never know whether your account is credited with actual Bitcoin or paper Bitcoin. Paper Bitcoin is a "I owe you" Bitcoin, implying that the exchange owes you a certain amount of Bitcoin. The only way to ensure that the Bitcoin you purchased is genuine is to withdraw it to a self-storage wallet or sell it for another asset or product. To save on transaction fees, most exchanges will not create a separate wallet for your account and transfer your Bitcoin to that address. The Bitcoin balance displayed on your centralized exchange account is a number next to your name on a spreadsheet. This explains why, despite Bitcoin's 10-minute block time, exchanges can instantly transfer Bitcoin to your account. That is, the time it takes to transfer Bitcoin from one address to another. Exchanges keep their Bitcoin in a wallet or set of wallets where they possess the private keys … [Read more...] about Why Keeping Bitcoin On An Exchange Is Driving The Price Down

Share to Twitter Share to Linkedin Here’s a scorecard on eight ways to own crypto. The most intriguing: a low-cost coin trust available at a nice discount. Are you interested in virtual currency, now trading at half the price it had last fall? Shop around. Among the many ways to get a piece of the action, there are wide differences in ownership costs. My favorite: a somewhat obscure bitcoin trust to be found in Fairfield, Connecticut. There are pros and cons to every means of getting cryptocurrency exposure, including the little outfit in Fairfield. This survey covers eight bitcoin bets in descending order of my views on their desirability. You may have a different ranking, especially if you are speculating on a quick turnaround. #1. Osprey Bitcoin Trust This quasi-fund (ticker: OBTC), created a little over a year ago, is a knockoff of the much better-known Grayscale Bitcoin Trust. Both trusts are closed-end, in that investors have no right … [Read more...] about How To Buy Bitcoin At 26% Off The Regular Price