Bitcoin's Network Activity Is Increasing. What will the future bring?

Key Takeaways

Bitcoin has risen by nearly 13% over the past week. 

A spike in network growth and open interest point to further gains.

Breaching the $42,100 resistance level would validate the optimistic outlook. 

Several on-chain metrics suggest that Bitcoin is gaining strength for a significant bullish impulse. Still, the top crypto has a big hurdle to overcome first. 

Bitcoin On-Chain Metrics Pick Up

Bitcoin looks like it’s gaining strength again. 

The leading cryptocurrency has enjoyed an impressive uptrend over the past week. It’s gained nearly 5,000 points in market value, rising from a low of $37,600 on Mar. 14 to a high of $42,400 on Mar. 19. 

Although prices have retraced by roughly 5% in the last 48 hours, Bitcoin’s uptrend appears to be gaining strength. 

The number of new addresses joining the Bitcoin network has significantly increased since Feb. 21, making a series of higher highs and higher lows. The uptrend in this on-chain metric suggests growing interest from sidelined investors who appear to be re-entering the market. 

More than 480,000 Bitcoin addresses were created in Mar. 17 alone, which is a strong positive signal for further upward price action.  

Network growth is often considered one of the most accurate price predictors for cryptocurrencies. A steady uptrend in the number of new addresses created on a given blockchain often leads to rising prices over time.

A similar uptrend can be seen in the futures markets, where the number of open positions, including both long and short positions, has been steadily rising since Mar. 7. As open interest increases, it indicates more liquidity, volatility, and attention is coming into the derivatives markets. A continuous increase in open interest to surpass 12.36 million could support Bitcoin’s recent price increase. 

Still, transaction history shows that Bitcoin has one substantial resistance wall to break to be able to advance further. 

IntoTheBlock’s In/Out of the Money Around Price model reveals that 1.57 million addresses have previously purchased nearly 760,000 BTC between $40,900 and $42,100. A decisive daily candlestick close above this hurdle could give Bitcoin the strength to break the next critical barrier, which is sitting at $46,500. 

The IOMAP also shows that the top-ranked cryptocurrency is holding above stable support as over 1 million addresses have previously purchased 1.23 million BTC at an average price of $40,300. As long as Bitcoin remains trading above this foothold, it has a chance at advancing further. However, failing to do so could result in a downswing to $37,500. 

CPU mining in 2022 – List of CPU mineable coins & CPU only algorithms

 Lot of people when they talk about crypto mining they discuss things like: ASIC mining profitability, Bitcoin mining machines, FPGA mining, building a profitable Ethereum GPU mining rig, mining BTC with Nicehash, GPU mining altcoins etc. All of that relates to GPUs and ASICs. But what about CPU mining? Is CPU mining still relevant in 2021 or is it a thing of a past?

CPU mining profitability in 2021, what its like? Are there coins that you can really CPU mine Today and is it really worth it to build a CPU mining rig? Here, this post is all about CPU mining.

CPU mining

Did you know that in early days Bitcoin was only CPU mined? One could mine Bitcoin using their Intel Pentium CPU and generate over 100s of BTC back in 2010. But that’s not possible anymore. Not just with Bitcoin but for almost every altcoins.

Most of the popular coins that were initially mined using CPUs are no longer CPU mineable. There are two main reasons for this. 1. Rise in network difficulty and 2. Rise of complex ASIC (Application Specific Integrated Circuit) miners. Both these factors rendered CPU mining largely on a vast majority of coins

Anyways even Today there are certain cryptocurrencies that are still focused on CPU mining. One such popular coin is Monero (XMR, RandomX algorithm), the biggest and easiest coin to CPU mine. Monero mining is profitable on AMD Ryzen CPUs and certain Intel processors. But does it pay off and will you be able to make the ROI?

Sure, but this is not going to work for all CPUs. Particularly cheap lower end CPUs are not profitable anymore when it comes to mining. But at least Ryzen CPU would pay off but then at current network difficulty it will still take more than a year for you to earn the ROI.

Also Monero is not the only coin that you can mine with CPU. There are many other profitable CPU mineable coins and CPU only algorithms. If you are searching for CPU algorithm or CPU only coins that you can mine with your CPU then the following post is for you.

In this article, we have listed down some of the cryptocurrencies that are possible to mine through CPU even today. If you don’t have an ASIC hardware or fast GPU then not a problem. You can still use your CPU power to mine these altcoins. They provide GPU / ASIC resistant and are only designed to allow CPU mining.

Now before we list the CPU only mined cryptocurrencies let’s look at what is CPU mining.

What is CPU mining?

As you know, mining is the act of allowing computer power to solve complex mathematical puzzles aka algorithms. By doing so miners verify / validate a block of transactions on the blockchain and for doing this process they mint new coins from a block as a reward. To know more learn about block rewards.

Usually to mine altcoins miners use ASIC machines and allocate their computers GPU power. But there are specific altcoins that are possible to mine with CPU.

CPU mining is a process that utilizes CPU (Central Processing Unit) cores to verify transactions on the blockchain and to create / mine new coins. CPU mining involves using everyday computers or setting up CPU mining rigs to make use of their power mainly as a mining devices.

One CPU, One Vote:

During earlier days cryptocurrency mining was originally carried out only using CPUs. However some years later GPUs replaced CPU mining. Because of the limited processing power and speed compared to GPUs; CPU mining process slowly became inefficient.

The idea behind CPU mining is “one processor, one vote” which is a consensus mechanism proposed by Satoshi Nakamoto in the Bitcoin whitepaper. But that principle got broken for Bitcoin. As of now only certain altcoins allow for CPU mining.

CPU Altcoins

When it comes to CPU mineable coin the first crypto that comes to everyone’s mind in Monero. Monero is the only popular coin with the most CPU hashrate. It is currently the best CPU coin on the market and it is the most successful CPU coin around. In order to allow CPU mining Monero uses RandomX hashing algorithm which completely resists ASICs and holds very well against GPUs.

Other than Monero there are few more coins using the same Random X algorithm which also allows for CPU mining. Plus there are a lot of coins coming out with unique hashing algorithm which only supports CPU mining. During the initial stages the difficulty on such coins will be very low and you can even make a profit mining with your Laptop. But remember that mining such coins are extremely speculative as only very few coins will take off in price.

So in general CPU mining is not left out and is not outdated just yet. There are a lot of developers still support for CPU mining. Even in 2021 there are still active CPU mineable cryptocurrencies. You can use your home computers to participate in CPU mining. However just because you can mine using using CPU doesn’t mean its a good idea to mine them.

Problem with CPU mineable coins

First of all let’s understand why Monero is successful. Monero is the only CPU coin that gets actively developed and it constantly works upon improving their PoW (Proof of Work) algorithm to stay ahead in the game.

In the past they’ve tweaked their PoW algorithm many times. The recent switch from CryptoNight to RandomX has completely stripped off ASICs from their network and additionally brought in more competition to GPU miners. This change allowed CPU miners to largely participate in the blockchain consensus. Since it provides active development and brings in more innovation it is the only CPU based coin that has been successful so far. However this is not the case with other CPU based coins and smaller blockchain networks.

Market price of a coin remains one of the main factor when it comes to mining. So what determines the price? Its the interest from people. Only if there is some kind of active development there will be some adoption. If there is no development the coin will simply fail in the long run.

The problem with mineable coins is that most projects will be largely abandoned by its developers. When it comes out initially it might seem like a good choice to mine them. Especially in the past during 2017 cycle many small-scale miners use to jump into those early coins to rack up on profits. But this strategy is not going to work anymore.

Most coins today are not available on major exchanges. Even if you find an exchange you’ll not be able to sell them due to low trading volume or market activity. Also since most CPU coins have low hashrate it gets easy for someone to 51% attack and is more susceptible to botnet attacks.

Before you start mining with your CPU use mining calculators to estimate the profitability. Check the coins popularity. Make sure it is listed on major exchanges. At least it should be listed on some exchange for you to sell your mined coins. Only then you should pursue them in mining.

So what are the best cryptocurrencies that you can mine with CPU?

Cryptocurrencies For CPU Mining

In order to allow CPU mining developers should design a Proof of Work algorithm with CPU in mind. The algo should mainly allow CPU and keep ASIC miners at bay.

There use to be many such algorithms supporting CPU mining such as: CryptoNight, Dcrypt, Bcrypt, X11, Wild Keccak, Argon 2d etc. Among them CryptoNight is the most popular algo. For CPU mining one often looks at coin using CryptoNight. Even though CryptoNight is GPU mineable it largely favors CPU miners. Most of the CryptoNight coins are mineable by CPU and one could make a decent enough profit with the right CPU.

Popular CPU coins such as Monero (XMR), Bytecoin (BCN), AEON were all using CryptoNight algorithm until ASICs came in. Now all those CPU algos are no longer CPU mineable.

If you want coins that are solely mineable with CPU then you should look for the ones using CPU only algo. Since CryptoNight got affected by ASICs Monero switched to RandomX – A new hashing algorithm designed specifically for CPU mining. Anyways it also supports GPU mining.

The problem with Monero mining is that it is hard to mine with CPU these days, especially with low power CPU. If you are looking to mine for fun then sure you can but don’t expect to make the ROI on your CPU. At current hashrate and network difficulty the best way to profit from Monero is by using GPUs to mine which is much stronger than CPU. But then if you got a GPU, there are much better coins like Ethereum, Ravencoin etc. in which you can profit more than Monero mining.

A CPU that was pulling like $2 to $3 a day once now barely earns $.10 cents a day. In current scenario only if you allocate more hashrate you’ll be able to run a profitable mining operation. For this a home PC or Laptop computer is not sufficient. You need several powerful processors. Only people those who have already built a CPU mining rig or runs a server are capable of CPU mining.

So before you look for CPU coins to mine ensure whether if your CPU is profitable or not. There are many CPU mining profitability calculator like for example you can use Nicehash profitability calculator. On this site you can find out the income from mining on different processors and algorithms.

List of altcoins for CPU mining

Monero (XMR)

Verus Coin (VRSC)

Nimiq (NIM)

WebDollar (WEBD)

Gulden (NLG)

PascalCoin (PASC)

Banano (BAN)

Myriad (XMY)

Dynamic (DYN)

Credits (CRDS)

Scala (XLA)

Arionum (ARO)

CPU Chain (CPU)

Nerva (XNV)

VERDICT:

To summarize, CPU mining is a simple way to earn few cents a day. But only if you got the right hardware and can find the right coin. If you come across such coins and if your CPU is profitable at mining then put your CPU to work. Else it is better to keep them sitting idle. All that money, energy and time spend on some random shitcoin is not worth it anymore.

Jack Dorsey’s Block Bitcoin (BTC) Wallet Project To Use Fingerprint Technology for Security

Jack Dorsey’s upcoming Bitcoin (BTC) wallet product will be outfitted with fingerprint sensor devices for security, according to a new update.

Dorsey’s company Block, formerly known as Square, first announced plans to develop a wallet last summer.

In a new update, the team behind the BTC wallet announced that the project will include both hardware and a mobile app to enable customers to set their own preferences in terms of convenience and security.

In the new update, the project notes that the fingerprint sensor data will never leave the hardware device.

“For transactions that require using the wallet hardware, we want our customers to be able to unlock their wallets securely, but with ease – an unlikely combination that historically has not existed in the market. We believe PINs, passwords, and seed phrases are confusing and often not secure given the workarounds normal people have to create given all the friction. This compounds when the need for those passwords are more rare…

Every authentication technology comes with tradeoffs. We’re excited about the security against theft or misuse that [fingerprint sensor data] will provide, the peace of mind that will come from not needing to remember yet another PIN, and the ease of placing a finger on the sensor rather than manipulating tiny, failure-prone buttons on a difficult-to-read screen.

… of course, fingerprint sensor data will never leave the hardware device.”

The project also plans to “evaluate additional access methods that customers could opt into” in case they want to share access to their wallets.

Dorsey has mentioned in the past that Block plans to integrate the Bitcoin wallet with smartphones.

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Why is Bitcoin valuable?

So you’ve been reading the latest news and can’t help but wonder: how has Bitcoin become so powerful?

What we can see from outside the blockchain is a digital currency that amassed great attention, going so far as to spike institutional investors’ interest. 

But if we look a bit deeper, it appears that the Bitcoin boom wasn’t just a fluke.

On the contrary, Bitcoin has a lot going for it. 

Initially, it seems to have been a necessary development in the global economy, presenting a new, courageous model of decentralized financing. Bitcoin was primarily popular among the tech-savvy population, but it gradually gained strength as the entire world moved in a virtual direction. Somehow, the ongoing pandemic happened to be the turning point when everyone started talking about Bitcoin. 

The truth is, it only accelerated the rise of this virtual space and the rush for high adaptability. 

However, ever since its introduction, Bitcoin’s purpose has remained the same: an alternative to fiat money with a precisely outlined set of rules, free from central banks and corporate regulators. 

Hence, apart from all feverish popularity and influencers’ tweets, certain traits give Bitcoin a currency value, the very same we consider when discussing all other fiat currencies. 

And as most Bitcoin-related statistics show, the interest, usage, and ecosystem surrounding cryptocurrency have grown significantly.

Here, we’ll discuss on what basis Bitcoin keeps shaking the ground of the international economy. What does make Bitcoin valuable?

Bitcoin as a Currency 

Bitcoin was designed to perform the same role as money. In general terms, money features three main functionalities: they serve as a store of value, a medium of exchange, and a unit of account. 

No legislation across the globe recognizes Bitcoin as a legal tender, nor does it forbid cryptocurrencies to perform both functionalities.

Or that was the case until June 2021, when El Salvador adopted Bitcoin as a legal tender.

Store of Value

Frequently referred to as the digital gold, Bitcoin seems to be fitting better in its role as store-of-value so far. But why is that? 

Despite being present for over a decade, Bitcoin and other cryptocurrencies are usually referred to as the money of the future. 

If we observe the price history of Bitcoin, it’s clear that it’s been heading in a positive direction despite the sharp and frequent fluctuations. Most price estimations based on technical analyses project realistic expectations that one unit of Bitcoin will reach around 100,000 USD by 2025. So, it’s a simple turnaround: people invest in Bitcoin expecting new all-time highs values in the years to come.

Medium of Exchange

On the other hand, Bitcoin doesn’t seem to be fully prepared for its role as a regular medium of exchange. The reason is rather understandable: short-term price shifts discourage people from using crypto assets for buying goods and services even though an increasing number of retailers allow crypto payments. 

Based on Bitcoin’s chronological price graph with a valuation from $0.0008 to $63,774, the amount of Bitcoin you’d spend on monthly rent in 2019 could easily have paid off your mortgage at the beginning of 2021.

In this regard, it’s noteworthy that Bitcoin has turned out to be a “jackpot” asset for seasoned traders diving into the newly discovered crypto-exchange marketplaces with great enthusiasm.   

The immense market caps and trading volumes of well-established trading platforms such as Binance and Coinbase Pro clearly prove that the volatile market provides a suitable environment for those who want to earn from price speculations. Furthermore, Bitcoin has become commonly used as an underlying asset by several financial products such as futures, ETFs, and derivatives.

Scarcity

The fundamental factor determining the currency’s existence is its supply. A good example would be diamonds – the reason they are so expensive is that they seem to be scarce. Thus, the limited supply drives the diamonds’ price higher.

In any case, excessive supply of a currency will result in devaluation, leading to huge spikes in the price of goods and services, which can, in turn, lead to a financial crash. 

The opposite scenario is also unfavorable for economical maintenance. When it comes to Bitcoin, the creator(s) specified its supply in the protocol according to which Bitcoins total supply would be limited to 21 million Bitcoin units.

To get a clearer picture, currently, there are approximately 18 million BTC in circulation, coming out at a decreasing release rate called halving. 

More specifically, since this asset is primarily acquired through Bitcoin mining, each time a Bitcoin miner provides a solution to a complex puzzle, they are rewarded with a certain amount of Bitcoin known as a subsidy. Every four years, the subsidy is halved. At the moment of writing, it’s around 6.25 BTC.

Utility

Utility represents the currency’s effectiveness. I.e., the ability of a currency to allow its users to trade its units in exchange for various goods and services. 

In fact, this was the reason why currencies were initially created. This is where Bitcoin and all other altcoins like Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) show their strength.

Cryptocurrencies are run on a blockchain network, which by its very nature is completely trustless, meaning that transactions don’t need to be based on trust in order to be executed seamlessly. The Bitcoin network does so through a robust system consisting of automated verifications and checks and shows extraordinary flexibility to maintain utility outside the crypto ecosystem.  

Divisibility

An affluent currency must feature a flexible system concerning divisibility in order to set a convenient basis for fulfilling its role as a medium of exchange. As a result of the strictly limited supply, Bitcoin fractions are substantially smaller than US dollars, British Pounds, and all valid cryptocurrencies worldwide. That being said, the smallest unit to which Bitcoin can be broken into equals 0.00000001 BTC. That subunit is called a Satoshi, named after its founder(s).  

Counterfeitability

The complex blockchain technology and the ledger on which transactions are recorded don’t allow Bitcoin to be easily “counterfeitable.” 

Technically, when somebody produces a fake Bitcoin, it can be done only through the double-spend method, meaning that the scammer managed to create a double record. If this happens, the user will spend the same unit of Bitcoin several times in different settings. However, such a situation is almost impossible to come true in reality, as the blockchain is designed to prevent it.

Durability

In order to achieve proper effectiveness, a currency has to maintain decent durability. Bitcoin doesn’t have a tangible representative in the actual world, so it automatically passes the durability test. This means that Bitcoin can’t be physically damaged, lost, or stolen. 

However, this shouldn’t lead you to the wrong conclusion that Bitcoin is by any means invulnerable to malicious actions. 

Bitcoin is stored in a digital wallet that keeps records of your Bitcoin transactions and encrypted private keys. Once you lose your private keys, you lose ownership of your funds. The Bitcoin, however, is not destroyed in this case; it’s just you that don’t have access to it.

Transportability

People are massively shifting toward digital payments, and e-shopping routines, so easy transportability is a key feature of a valuable currency in a world where virtual payments have already beat cold banknotes. Cashless payment is a typical example of the so-called “Network Effect,” which suggests that the value of a particular product increases as more people are utilizing it.

In the cryptocurrency sphere, the existence of different sorts of wallets and cryptocurrency exchanges have upgraded this feature, allowing funds to be transferred in real-time, irrespective of the type and the size of cryptocurrencies being exchanged. 

Exchanges also offer fiat gateways with multiple payment methods such as credit cards and PayPal. On top of all that, costs for such interparty crypto transactions are drastically lower than regular transnational orders. 

Final Thoughts

After all, it’s simple math: as Bitcoin is getting closer to the maximum limit, the demand for it is reaching new heights. 

The favorable ratio between its supply and demand is reliable proof that the value of Bitcoin is likely to grow even higher than we could possibly imagine. Furthermore, corporate investors are putting considerable trust in this new wave of financial practices, setting a solid ground for Bitcoin’s utility as a medium of exchange despite the initial lack of intrinsic value.

Nonetheless, nothing can be taken for granted in the volatile field of cryptocurrency. Just a single tweet from Elon Musk, announcing that Tesla wouldn’t accept Bitcoin payments any longer, managed to affect Bitcoin’s price negatively, and then another one to shift the attention to Dogecoin. However, nothing seems to affect the level to which Bitcoin has been incorporated into mainstream culture.

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Is Collapse of The Russian Ruble Bullish for Bitcoin?

The only reserve asset, which Russia controls, is gold, meaning that the country might soon open its arms to bitcoin, Bill Miller opined.

Legacy investor, fund manager, and philanthropist Bill Miller believes that the financial sanctions imposed on Russia could cause bitcoin’s price to soar. He pointed out that gold is the only reserve asset the largest country by landmass controls on its own, meaning that BTC might gain traction in the days to come.

BTC’s Surge Following The Crash of The Ruble

The military conflict in Ukraine changed the tides in the financial world drastically. NATO and the EU declared economic war on Putin’s regime. The USA, the UK, Germany, and many others cut their monetary connection with Russia and excluded the many Russian banks from the major payment system SWIFT.

As a result of those sanctions, the ruble plummeted by over 25%, while Russian citizens started looking for alternative financial instruments to preserve their savings. Bitcoin trading volumes in the region spiked to record levels.

In a recent interview for CNBC, the former Chairman of Legg Mason Capital Management – Bill Miller – outlined that Russia keeps 16% of its reserves in dollars and 32% in euros. Those assets are managed by “people who want to do them harm.” He further stated that the only part of their reserves, which other nations can not control, is gold (22%). According to Miller, these metrics are a “very bullish” sign for bitcoin.

Miller’s Bitcoin Stance

Despite his skeptical BTC opinion in the past, the American has turned into a keen supporter of the primary cryptocurrency recently.

In May last year, he argued that investing in it is safe even during price drops. In fact, traders should find it more attractive when the value has decreased:

“If I liked something at higher prices, it is a safe bet I will like it even more at lower prices.”

Several months later, he made a somewhat interesting comparison between bitcoin and gold. In his view, the digital asset resembles the luxurious sports car Ferrari, while the precious metal is old-fashioned – like a “horse-and-buggy.”

Earlier this year, the legacy investor admitted he had allocated 50% of his portfolio to bitcoin.

Verdict

Indeed, I believe the Ukraine-Russia situation will likely expediate mass adoption of the likes of Bitcoin as it provides a real case for a viable decentralised, tamper-proof, unconfiscatable monetary system.

Not only does crypto allow financial institutions to work seamlessly together, it will also help individuals send and receive payments. This is becoming especially critical amid reports that banks in Ukraine have put a limit on withdrawals at a maximum 10,000 roubles or $129 per day from ATMs, and/or are completely shut. 

In short, due to The Law of Unintended Consequences, the need for an alternative payment for most sovereign nations has been laid bare – and cryptocurrencies will be amongst the major beneficiaries.

7 Potential Cryptocurrencies To Invest In 2022

 Cryptocurrencies have been a hot topic for years now, and as the development and adoption continue, they are likely going to grow bigger and bigger — not only in terms of value, but popularity, use, number, and more.

With that said, it is important to identify the right coins to invest in. The crypto industry is alive, and its evolution continues to produce new coins that are replacing the ones belonging to past trends. There are some exceptions, of course, such as Bitcoin and Ethereum, which do not belong to trends but are universally desired and leading coins due to their importance in setting up the crypto industry and helping it evolve.

On the other hand, there are projects that are emerging due to their relations with the currently dominating trends, such as DeFi, Metaverse, and NFTs. These are currently the most popular trends in crypto, and they show no signs of stopping or being replaced as of yet. In fact, they are showing signs that they will stick around for years, and that means that they are still in their early stages. As such, this is the time to invest in them, especially when it comes to the cheap ones.

With that said, here are our top 7 suggestions for cheap coins that have tremendous potential to blow up in the future.

1. Cardano

The largest of the 7 coins that we aim to recommend, and the one with the greatest potential, is Cardano (ADA). This is a project that aims to create a development platform, similar to Ethereum. However, unlike Ethereum, Cardano is trying to be infinitely more scalable, faster, and cheaper.

The project has come up with 5 stages of development — 5 Eras, as it calls them — and so far, it completed the first two. While this took a lot of time, Cardano has ensured that it will progress slowly, and focus on quality, rather than quantity. With its smart contracts only emerging in October 2021, the project’s development platform is extremely young, and already uncomparably better than what Ethereum has to offer.

Ethereum still has massive importance in the crypto world — it is the first development platform, it showed everyone that blockchain is a lot more than just a ledger, and it is the father of pretty much every trend that ever emerged in crypto. However, when it comes to its technical capabilities, it has reached its limit a long time ago, and it cannot accommodate the demand anymore. Fortunately, Cardano can, and Ethereum’s high fees have pushed many towards the younger and more capable project. Cardano is blowing up at a massive speed, and for the time being, its native coin, ADA, is still only $1.04, after an exceptional dip. With ADA bound to blow up again when the market allows it, this is the perfect time to buy the dip and wait for the change to happen.

To learn more about this token visit our How to invest in Cardano guide.

2. Polkadot

The next on our list is Polkadot (DOT) — a project that aims to use its secure network to achieve two things — scalability and interoperability. Polkadot can achieve both of these things with its unique approach that includes running a main blockchain, and alongside it, a number of parallel chains called parachains.

These parachains can be used in two ways — to take over a portion of the work that the network has to deal with and reduce the load on the main chain, as well as to connect to other blockchains in the crypto industry. As such, they allow Polkadot to spread out, expand, and create a network, which makes it one of the leading projects in the area of interoperability.

In fact, Polkadot is one of the most important Web 3.0 projects because of this. Since Web 3.0 will almost certainly run on blockchain technology with the goal of achieving real decentralization, and projects like Polkadot enabling that — Polkadot and its token DOT have a long and successful journey ahead of them.

To learn more about this token visit our How to invest in Polkadot guide.

3. Avalanche

In the third spot, we have Avalanche (AVAX). Avalanche is a project that is similar to Cardano, in a sense that it is a development platform that puts speed, affordability, and security ahead of everything else. The project claims to be the fastest smart contracts platform in the blockchain industry, with low transaction cost, and eco-friendliness as its main selling points.

Of course, speed and low cost are crucial for development, but eco-friendliness has also emerged as one of the most important aspects that define a good project. Concerns about the carbon footprint of crypto have always been high, but they skyrocketed higher than ever in 2021, after Elon Musk announced that Tesla will stop accepting BTC payments due to its massive energy consumption that has a negative impact on the environment.

Ever since, eco-friendliness became a major requirement for projects, and Avalanche is offering it with the promise that any smart contract-enabled app can outperform all competition simply by deploying on its blockchain.

To learn more about this token visit our How to invest in Avalanche guide.

4. Shiba Inu

On a bit of a lighter note, we have Shiba Inu (SHIB). Now, SHIB is not a coin that aims to change the world or dominate the cryptocurrency industry. It is a memecoin — which is a trend kickstarted by the success that Dogecoin, the original memecoin has seen. After it was created as a joke cryptocurrency in 2013, DOGE was meant to bring a bit of lightheartedness to crypto, and disappear in a few months.

Instead, it managed to stick around for nearly a decade now, and about a year ago, it saw the largest surge of popularity in the history of crypto. In fact, it became the top performer of 2021, which inspired the memecoin trend.

Now, SHIB itself was created before DOGE’s massive rise to power in early 2021, but it was this event that made SHIB itself popular. The DOGE clone even managed to outperform the original at one point last year in every aspect except for the price, even achieving a greater market cap. This led to countless listings, great demand, and massive popularity. And, while DOGE has reclaimed its position of a “top dog” among memecoins since then, SHIB remains under the spotlight, right next to Dogecoin.

To learn more about this token visit our How to invest in Shiba Inu guide.

5. Decentraland

Speaking of popularity, the biggest and most popular trend in the crypto industry right now is metaverse. Metaverse exploded in late 2021, and its popularity continues to grow in 2022, as people around the world are learning of it and its possibilities. With Decentraland (MANA) being one of the oldest and most advanced metaverse projects, it is believed that this project has a great future ahead of it.

Decentraland offers a digital world where users can purchase plots of land — which come in the form of NFTs — and use them for a variety of purposes. This digital land can be used for anything from organizing digital events for friends and fans, to being used for app and game development.

In the last month alone, there were several noteworthy instances of its use, including the digital event revolving around the new year’s celebration, as well as the launch of digital events organized by the Australian Open. With the Australian Open being one of the four Grand Slams, and one of the biggest and most popular sporting events in the world, so drawing attention to Decentraland is likely to have massive long-term effects. Unfortunately, due to the bearish market, MANA is currently failing to grow in response to the increased usage and attention. However, once the bearish trend passes, the coin is likely to explode.

To learn more about this token visit our How to invest in Decentraland guide.

6. Axie Infinity

Nearing the end of the list, we have Axie Infinity (AXS), which is another metaverse and NFT-based project. However, rather than selling digital land like Decentraland does, Axie created a blockchain-based game set into a vast digital world, which contains monsters in the form of NFTs.

These monsters — not unlike those from Pokemon — can be used by players in battles against other users. As NFTs, they can be bought and sold, and whoever owns the NFT will keep owning the monster, as well, for as long as that NFT remains in their possession. Furthermore, players can also breed monsters and upgrade them with over 500 different body parts belonging to all kinds of creatures.

However, the real attraction of Axie lies in the fact that it uses the so-called play-to-earn model, which allows users to earn real money simply by winning battles or breeding monsters and selling the newly created beasts. Winning in battles grants players AXS tokens, which can then be used to buy new monsters or upgrades, or simply withdraw it to an exchange and convert it into another crypto or fiat currencies.

Axie is the biggest and most popular blockchain game as of January 2022, and likely for a long time to come, so with only a small investment and then some fun gameplay, you can even make some income. It is easy, user-friendly, a great way to pass the time, and it lets you earn money. With all that, it is easy to understand why we believe that this project has so much potential.

To learn more about this token visit our How to invest in Axie Infinity guide.

7. The Sandbox

Finally, we have The Sandbox (SAND) as the last entry on the list. Another metaverse project, Sandbox aims to revolutionize the gaming industry, or at least take the first step towards doing it. The project is not like Axie Infinity, but also not like Decentraland.

It does offer a blockchain-based virtual world, but it uses it in a different way. Essentially, it allows users to create, build, buy, and sell digital assets in the form of a game. It combines the power of DAO and NFTs to create a thriving gaming community that runs itself, decides for itself, and can create multiple games for other community members to play, and earn from.

This approach will grant community members an easy way to express their ideas, but also to experience games that came from their own peers, rather than companies and official studios. And, as mentioned, thanks to the play-to-earn model, they also stand to make a decent profit.

To learn more about this token visit our How to invest in The Sandbox guide.

Conclusion

The crypto industry is bigger and more diverse than ever before, and while it is currently going through a rough patch in terms of prices — major drops can also mean massive opportunities to buy the dip and earn excellent profits once the bearish wave passes, and prices return to normal. All you need to do is learn which coins to go for, and the list above presents you with some of our top recommendations on which coins have the potential to go big in the future

How to Mine Ethereum Coin – Ethereum Mining Pools

Ethereum is the largest altcoin on the market to date. Besides its different uses as a platform, it can also be very profitable for you. This article will lead you through the process of how to mine the Ether by providing you a step-by-step tutorial. Choosing the proper hardware and learning to set up and configure your mining equipment.

If you don’t want to deal with hardware and configurations, there is another, easier alternative. You can also mine Ethereum making a cloud mining contract.

What is Ethereum?

Back in 2012, Vitalik Buterin, at age 17, his father proposed bitcoin to him. Besides, Vitalik is very interested in its technology. However, he started writing for Bitcoin Magazine and proposed improvements to the Bitcoin platform. But, when he didn’t make that improvement, he decided to make his own cryptocurrency instead. The Vitalik idea was Ethereum, and it went live in 2015.

Ethereum is created to enable developers to build and publish smart contracts. Simultaneously, it can be used without the risks of downtime, fraud, or interference from a third party.

However, Ethereum calls itself “the world’s programmable blockchain.” It distinguishes itself from Bitcoin as a programmable network that serves as a marketplace for financial services, games, and apps. These can be paid for in Ether and are safe from fraud, theft, or censorship.

How to Mine Ethereum

The first thing to consider is the consensus algorithm that Ethereum uses. In fact, the algorithm is called Ethash. However, Bitcoin mining often uses ASICs. Besides, ASICs are computers built to mine crypto in a cost and energy-efficient way. Therefore, Ethash, as engaged to Bitcoin’s mining algorithm, is ASIC resistant.

For the miner, this indicates that a computer with a GPU graphics processor will work most and the special ASIC hardware. This technology is made so those specific users can mine Ethereum.

Both variants use complex calculations to do math problems. However, a block reward, Ethereum tokens, is put into the miner’s Ethereum wallet. Notably, this can then be traded, changed on exchanges, or sent between other Ethereum wallets.

Future variants of the algorithm are more ASIC resistant. In addition, there is the chance of the ProgPOW change, which will give GPUs an even bigger advantage.

Either way, you will require a computer with a suitable GPU or an ASIC machine to mine. Most home miners will have a GPU. The greater the hardware, the higher calculations the machine can do. The more calculations the computer can do, the more possible it is to solve a block reward problem.

How to Mine Ethereum on Android

Since 2018, various Android users have used the Minergate app to mine Ethereum on their Android phones. However, Google banned crypto-mining apps. Besides, it is still possible to mine Ethereum on Android by using cloud mining apps.

How to Mine Ethereum With a Computer

Most users would be more suitable for mining Ethereum on a PC. Moreover, this way is the most profitable way to mine Ethereum and add value to your Ethereum wallet.

Know the challenges

You’ll need to do some research to ensure this productively in the country where you live. Notably, electricity costs fluctuate wildly around the world – and in some developed nations. The electricity bill you’ll get every month could far exceed any returns you make. It’s also worth watching the levels of hardness that are associated with Ethereum mining.

According to Etherscan, they stood at only 0.121 Terahashes in July 2015. But it soared to a staggering 3,784,431 Terahashes by December 2020. Aside from electricity expenses and difficulty, you’ll need to invest in hardware that’s up to the task of completing the Ethereum mining pool. Plenty of computing hardware is required to solve the complex mathematical puzzles that subsequently validate a block – but if you are successful, the rewards can be handsome.

At present, 2 ETH rewards offer those who manage to add a block to the chain towards the end of 2020. This had a cash value of about $1,500. Miners will be given the total of the fees generated from transactions within the block, too. This is showing to be a more important source of income for miners – and congestion on the network brought about by the surge in DeFi protocols caused fees to reach record highs in 2020.

Buy the equipment

The next step in your Ethereum mining pool journey will involve investing in reliable graphics cards that have a high hash rate – and, as you’d expect, you’ll want this to be as high as possible. One of the more recent and desired players on the market has been Nvidia’s GeForce range, but getting your hands on one of these GPUs is easier said than done because of the unique level of demand among gamers.

Another suggested brand is AMD, and some claim that this company’s cards are better. Online, you’ll find a calculator where you will be able to get an estimate of ETH mining profitability. The estimations received are based on the current difficulty factor in the Ethereum ecosystem, your GPU hash rate, the block reward offered at present, the current trading price of ETH/USD, and your electricity costs.

Furthermore, don’t forget you’ll also need a powerful computer, ideally running on Windows or Linux. Make sure it will support your graphics cards as you begin to build a mining rig. GPUs are a crucial element of your setup because they are hundreds of times faster than conventional CPUs.

Once you update the drivers for your graphics cards, it’s time to install an Ethereum wallet. Next, you can open an account and download the blockchain. Lastly, you also need to perform research on the best Ethereum mining software for your machine.

Join a pool

Although your new rig will be flowing power, it’s frequently more efficient to enter an Ethereum mining pool. In fact, several miners combine their resources – increasing the chance to select on the validate blocks. The rewards produced are then distributed proportionately, based on how much power was provided by each member.

As an alternative to establishing your rig, you might also want to consider cloud mining. This process effectively involves leasing hardware based in a data center where electricity prices are a lot more competitive – and, generally, these savings will outweigh the cost of hiring these services in the first place.

Although cloud mining does have its advantages – as it means that you won’t have to worry about maintenance issues – you must select a reputable provider, as you may end up in an inflexible contract.

How to Calculate Ethereum Mining Profits

Accurate Ethereum mining calculator patronized by millions of crypto miners. Best Ethereum mining profitability calculator with difficulty, hash rate, power consumption (watts), and kWh preloaded for 2021.

The Ethereum mining calculator gives it simple and easy to quickly see Ethereum mining profitability based on hash rate, power consumption, and costs. Default inputs are loads with the latest Ethereum difficulty target and Ethereum mining hash rate for the best Ethereum miner.

Ethereum Mining Pools

Three factors usually categorize Ethereum Mining pools. Firstly pool size, larger pools have more chance of finding a block but offer smaller payouts. Secondly, fees, how much the mining charges miners in management fees. Lastly, payouts, the number of payouts, and how often they should be expected.

Ethermine

The number one choice is Ethermine. The best and the most common Ethereum mining pool between the Ethereum miners. With over 200k miners, it is one of the biggest Ethereum mining pools, contributing more than 100 TH/s, more than 20% of the overall network hash rate.

Ethermine uses a real-time PPLNS payment scheme and charges a 1% fee on each reward that you receive. It also allows you to set the payment threshold needed to receive your rewards. You can set your point to 0.05 ETH minimum to a maximum of 10 ETH.

Moreover, Ethermine pool does not require you to pay the transaction fees. Instead, it mines your transaction on their blocks, saving you the transaction fees and is advantageous for small miners.

Flexpool

Flexpool is small but a fast-growing Ethereum mining pool. It appears under the top 15 Eth pools that provide a little over ~6 TH/s. Even though it is a small mining pool, it has got a lot of attention among the Ethereum mining community. To bring in more profits to miners and be highly transparent.

Moreover, Flexpool profit is similar to Ethermine’s but is way more profitable than Nanopool and few other ETH pools. It has the lowest fees of 0.5% and uses the PPLNS payment system, which is excellent for long-term miners.

However, the difference between Ethermine and Flexpool is that Flexpool doesn’t avoid the charge of transaction fees when you withdraw funds. Anyway, you get the choice to set the maximum payout so that you can wait for a lower gas payout. The minimum payout is 0.01 ETH. Besides, you can set the min pay to 0.2 ETH or higher to offset the cost of the transaction fees. But remember, you’ll have to wait until you gather enough ETH needed for the payout.

Whether you are a small miner or one with a lot of hash power, Flexpool is one of the best Ethereum mining pools available for mining. Moreover, it would be best to see that joining a small pool supports decentralization and is healthy for the network.

Stablecoins: What is USDT?

Since the emergence of stablecoins, cryptocurrency trading has become more accessible to traders for the simple fact that they now have a fiat point of reference for these internet assets. And the Tether (USDT) is just one of the many.

For some, it’s the rockstar of stablecoins. For others, it’s a suspicious printing machine meant to manipulate cryptocurrency prices. 

But all opinions aside, let’s see really what is Tether (USDT) all about.

What is Tether (USDT)?

In the cambridge Dictionary, tether refers to a rope or chain used to tie, generally an animal, to a post or other fixed place. However, it also means using a mobile phone as a wireless internet connection to which you can connect other devices.

And the second definition is closer to what Tether means in the cryptocurrency space.

Tether is one of the first stablecoins and currently the most popular, having the highest liquidity. The concept promoted through USDT as a stablecoin is that every token is backed by one US Dollar. Hence, the 1 on 1 ratio between USDT and USD should almost always stay at the same level.

This way, traders can use in their activity a cryptocurrency ‘tethered’ to the real world US Dollar. 

It was initially launched as RealCoin in July 2014 and rebranded as Tether in November by Tether Ltd. After the rebrand, Tether started trading in February 2015.

In June 2020, it surpassed XRP in terms of market cap and climbed to the third position, right behind Ethereum and Bitcoin. Although throughout 2021 other cryptocurrencies ascended over USDT in terms of market cap, in terms of 24h trading volume, Tether has constantly kept the first position.

Because of the one-on-one connection to the US Dollar, USDT allowed users to keep their funds in a cryptocurrency that retains the same value as the fiat currency.

The benefit of it comes in the fact that cryptocurrency traders didn’t have to pay additional fees for fiat transactions and stopped waiting days for their funds to reach a destination. Additionally, since 2018-2019 governments started applying income taxes on cryptocurrency profits. However, the taxes mostly apply at the moment a trader exchanges his cryptocurrency to fiat. So, with stablecoins like Tether, traders can retain and move their funds at a fixed value without exchanging their cryptocurrency for fiat.

What are Stablecoins?

or daily trading and spendings, the cryptocurrency community came up with stablecoins – cryptocurrencies that can be used without worrying about price volatility.

These days stablecoin are usually launched with one of these two main goals in mind. Either to become a widely used stable cryptocurrency, or as a marketing channel used by cryptocurrency exchanges to attract more users to their platforms.

Either way, these companies have to maintain their stablecoin’s peg by gaining trust. And usually, they do this by showing a form of collateral and/or through algorithmically manipulating the supply.

Collateral Pegging

The Collaterals have the role to prove that a said stable cryptocurrency is worth what the company behind it says it is.

There are three main types of collateral that grant stablecoins value:

Fiat

Assets

Cryptocurrency

Fiat Collaterals

Stablecoins backed by fiat are pegging a mainstream currency like USD, Euro, or Japanese Yen. So, every stablecoin that says it’s worth 1 USD is equal to one coin/token should have a corresponding amount of fiat currency funds in the company’s bank account.

Asset Collaterals

The most common asset collaterals used to back stablecoins are Gold, Silver, and Oil. In the same way as the fiat-backed stablecoins, companies providing cryptocurrencies pegging assets have to own an amount of that asset that corresponds to the value their token is worth.

Cryptocurrency Collaterals

Stablecoins can also be backed by one or more cryptocurrencies. This form of collateral comes with the main advantage that the collaterals can always be checked on the blockchain.

Algorithmic Pegging

In order to better control the price of a cryptocurrency, companies providing a stablecoin set up rules to manipulate the supply of coins as the demand goes up and down. 

So, when there are a lot of people to buy into the cryptocurrency, the algorithm will increase the number of units to make sure that the coin doesn’t overappreciates and destabilizes. And in the same manner, the algorithm will reduce the number of coins when traders are selling out in order to prevent depreciation.

How is USDT stable?

At its core, USDT doesn’t have its own blockchain. It operates as a second-layer digital token on the Bitcoin (on Omni and Liquid Protocol), Ethereum (as an ERC20 token), EOS, Tron, Algorand, and OMG blockchains. 

All tethers are secured in their respective blockchains and pegged at 1-to-1 with a matching Fiat currency, such as 1 USDT to 1 USD, being backed 100% by Tether’s reserves.

What other Stablecoins are out there?

Besides USDT, there are other stablecoins that come to serve the crypto market. Whether they come with a goal to be better than Tether or simply to draw more users into an exchange, they provide a steady price and a safe medium of exchange for crypto users.

USDC

USD Coin (USDC) is one of the largest stablecoins by market cap and it currently stays in the top 10 cryptocurrencies on CoinMarketCap. It is an ERC20 token built on the Ethereum Blockchain, and it was launched in 2018 by Center Consortium, a collaboration between Circle Internet Financial and Coinbase. 

Since 2018, USDC has seen significant growth. And because it’s an ERC20 token, it can be easily integrated with smart contracts. 

USDC is backed by a one-to-one fiat currency reserve which is regularly audited to confirm that the funds are available in the company’s accounts. 

BUSD

Binance USD (BUSD) is to not be confused with the BNB token. BNB is a utility token, while BUSD is a stablecoin.

BUSD is developed by Paxos in partnership with Binance, with Paxos being the USD custodian and issuer of BUSD. 

The BUSD is backed by USD on a 1-on-1 ratio and neither Binance nor Paxos charge a fee for the purchase or redemption of the stablecoin.

DAI

DAI presents itself as the only decentralized stablecoin available on the market. It was built by the MakerDAO development team on the Ethereum Blockchain. However, the coin isn’t controlled by the development team nor by any other centralized authority.

DAI is not backed by any fiat currency but uses a multi-collateral script in which the coin is created when a collateralized debt position is created, locking Ethereum into a smart contract. The contract holds the staked coins, which can be unlocked at a later time using DAI.  

5 Best Bitcoin Gambling Sites 2022

Introduction

The latest crypto craze helped many people realize that online casinos can be made even better by introducing Bitcoin and other cryptocurrencies in the equation. So now, we have the ultimate gambling experience conveniently stacked in some of the best Bitcoin casinos.

Bitcoin casinos have managed to provide what conventional online casinos were lacking — speed, safety, and instant access to your funds and winnings. And with such benefits at play, traditional online casinos have suffered a significant setback.

So if crypto gambling has managed to spark your interest, keep on reading, as we have carefully scouted the internet to offer you the safest and most reliable sites for the best Bitcoin casinos.

1. Stake

Stake is a popular option for betting crypto on sports and casino games for many reasons, including their neat user interface, and the variety of sports/games they offer.

While they do not offer a welcome bonus, they are one of the best crypto gambling sites around in terms of VIP perks, cashback, and bonuses.

2. Cloudbet

Cloudbet is a sports-focused gambling site that also offers casino games. The site offers a wide selection of games and sports to bet on. 

It offers anonymous play. The site is also very secure with SSL and two-factor authentication.

Cloudbet has received some complaints about slow payouts and poor service. Most of the complaints they have received were quickly resolved. 

3. Sportsbet

Sportsbet offers a superb sportsbook as well as a nice assortment of casino games. Their three core principles are Fun, Fast, and Fair.

While you can register on Sportsbet with just an email address, they reserve the right to require KYC and will lock your account if you provide inaccurate information.

Sportsbet has an excellent reputation among gamblers. They respond quickly and fairly to complaints.

4. BetOnline

BetOnline is an online casino with higher than average betting limits. It offers sports betting, poker, casino, esports, and lots of bonuses throughout the year.

It does not offer anonymity. You must provide your country, postal code and phone number just to open an account. 

BetOnline has a fair reputation depending on who you ask. They offer a wide variety of betting options but there are also many complaints against them.

5. Bitcasino

Bitcasino is an online casino and sportsbook platform. Founded in 2014, the brand stands out with innovative features and accepts crypto deposits. 

Bitcasino doesn't offer anonymous gambling, and players are required to input their age before registration.

Bitcasino has a good reputation in the market and players can find many positive comments on the site and its features.

NFT Marketing Guide | Top 5 NFT Marketplace Platforms

Believe it or not, the rise of the Non-Fungible Tokens gave birth to a new type of marketing – NFT marketing. And in some aspects, it’s nothing new, yet in others, it’s something completely different.  

Think of it like this: from an outside perspective, NFTs look like nothing but a bubble with hyperinflated prices. Most of them have no intrinsic value and no real utility.  

Yet, that’s the case for many products in the mainstream markets, not just artwork.  

However, in a free market, value is determined by supply and demand, which makes the whole economy run efficiently.  

And like in most products, a carefully crafted strategy, brand identity, and communication can gather an entire community around an NFT collection, which will start putting value to it. 

An NFT is a cryptocurrency token unique in value that is not interchangeable with any other NFT, even if it belongs to the same collection.  

In essence, NFTs are unique assets that can consist of works of art, ownership titles, and of course, collectibles. But the true value of non-fungible tokens comes from the ability to store the data regarding ownership over an asset, so their potential goes far beyond a picture on a blockchain. In the online games’ world, it’s not rare for a game to close down, reset, or make a change leading to users losing their hard-earned (sometimes even bought) items. And problems as such can be easily prevented through NFTs.  

But aside from games, Decentraland has shown the crypto world that real estate can be tokenized just as well. Yes, Decentraland is a virtual world, but it is only a matter of time before some clever real estate developers and agents will realize they can create NFTs for the property they’re selling. And thanks to how much smart contracts have evolved, you can even include in them the data from the purchasing contract.  

Speaking of smart contracts; although in the beginning, Ethereum’s ERC721 token standard was the main type of smart contract used in creating NFTs, now more and more networks support their creation and the transaction. Some of the most popular alternatives are Solana, Polygon, and Crypto.com.

Top 5 NFT Marketplace Platforms

The creation and distribution of the NFT collection are more straightforward than ever, thanks to the NFT marketplace platforms.   

Not only can you get right to selling your NFTs from the start, but many marketplaces even allow lazy minting. That means that you don’t have to write a single line of code but simply upload your NFTs and pay the transaction fees (minting included) the first time you sell them.  

However, although the most popular platforms have the most traffic and activity, not all of them may suit your plan. So, it’s important to check which one of those hot marketplaces best suits your project’s needs.

OpenSea 

OpenSea is the leading NFT marketplace offering a listing of over 20 million assets. Besides art NFTs, OpenSea offers a wide variety of utility, VR, and music NFTs, even domain names.  

From Bored Apes to Decentraland parcels, almost any NFT is available there.  

The platform currently integrates 3 chains: Ethereum, Polygon, and Klaytn.   

However, you can only lazy mint collections on Ethereum and Polygon.  

Connecting to OpenSea is quite user-friendly as well. There isn’t a complex sign-up process but a simple connection with your wallet to read the token attribution. There are 13 wallets supported, including Metamask, Coinbase Wallet, Wallet Connect, and Fortmatic.

Crypto.com

At base, Crypto.com is a payment, trading, and financial services company that offers a cryptocurrency trading mobile app and web application built on top of its own decentralized, open-source blockchain.  

The platform has grown exponentially and now is one of the top competitors in the market, even as an NFT marketplace.  

The Crypto.com DeFi Wallet supports Crypto.org Chain NFTs on the Crypto.org Chain, as well as ERC721 and ERC1155 NFTs on the Ethereum network.  

However, the Crypto.com NFT platform is quite exclusive. First, you have to create a dedicated account, verify your identity, then submit an application.  

After the application, if you become an approved creator, you’ll be notified by email. Yet, Crypto.com does not guarantee a response to your application, as they will only respond to successful candidates.

Axie Marketplace 

Axie Marketplace is the platform where players and investors buy/sell any NFT related to the Axie Infinity video game.  

The game, as well as the NFT marketplace, runs on Ethereum. And although Axie Infinity is an account-based platform, access to the Axie Infinity Marketplace is also facilitated through other applications and platforms, such as MetaMask and Binance.  

The NFTs do have certain utility in the game, making them easier to sell, yet you can’t just go on the Axie Marketplace and decide to sell your own personalized collection. The whole marketplace is centered around the game, so customization goes as far as the environment’s parameters allow. 

KnownOrigin 

KnownOrigin is one of the fastest-growing Ethereum NFT marketplaces out there. You can simply connect to the platform through one of the wallet browser extensions accepted by the website.  

Currently, the most recommended option is MetaMask.   

It’s important to notice that KnownOrigin is an art-focused NFT marketplace, so you can start buying NFTs as soon as you connect your wallet to the platform.   

Yet selling is a bit more complicated.  

To upload and sell NFTs there, you have to create an artist account. To do that, after creating a profile and verifying your social media, you must submit an Artist account application in order to get your account enabled.  

Once enabled, you can upload and sell art without a problem in the primary market. Also, it’s important to keep in mind that KnownOrigin requires that the art be your own, and you mustn’t upload it on any other marketplace. 

SuperRare 

SupeRare is another Ethereum digital art marketplace where artists can sell their collections.  

The platform integrates with the Metamask, Fortmatic, and Wallet Connect extensions, yet you have to create an account associated with the wallet address manually.   

Also, you must submit an artist profile before you can upload and sell NFTs. 

And like KnownOrigin, SuperRare also requires you not to upload your art on other marketplaces.

Key takeaways 

A Non-Fungible Token is a cryptocurrency token that is not fungible. That means that the token is unique in value and is not interchangeable with any other NFT, even if it belongs to the same collection.  

Some of the most notorious NFT marketplaces are OpenSea, Crypto.com, Axie Marketplace, KnownOrigin, SuperRare.  

In order to succeed with your NFT project, you should choose the right NFT platform, create a profile and a brand, structure your collection wisely, raise the floor price, and ultimately draw in your audience.  

To effectively draw in your audience, you can use airdrops to stir up activity, use influencer marketing, employ social media communication & community building tactics, launch advertising campaigns, publish guest articles, and set up your SEO. 

How Do Cryptocurrency Lending Platforms Work?

The cryptocurrency sector has been growing rapidly over the past few years. 

One of the newest products in the market is crypto lending, which allows investors to borrow against their digital assets. 

Well-organized platforms give loans in exchange for interest, with some providing a high loan-to-value ratio of up to 90% while allowing borrowers to use various digital coins as collateral.

In a nutshell, these platforms lend out crypto that has been invested by others who earn interest. To make economic sense, they lend at a higher interest and give investors a slightly lower interest while the difference is their profit. At the end of the day, everyone using these platforms gets a win.

How Cryptocurrency Lending Platforms Work

1. Open an account with the platform

Before you can apply for the loan, you need to open an account and get a platform wallet to deposit your collateral. This is also the wallet where you will receive your loan before you can withdraw it.

2. Deposit your collateral

This is where things get interesting. The platforms accept different coins as collateral, giving borrowers a wide range of options. Whether you are comfortable using Bitcoins, altcoins, or stablecoins, you will find a platform that accepts any of these as collateral.

3. Applying for the loan

At this point, it is crucial to use a loan calculator to know how much money you will get against your collateral and other fees involved. The most reputable platforms approve loans instantly and aim to reduce any inconveniences to borrowers who might need the money urgently. You will typically get your loan already converted into fiat currencies such as USD or EUR unless you have specified otherwise.

4. Withdraw and use your money

As soon as the loan is approved, you can withdraw it into your bank account. Some people also decide to buy cryptocurrencies using their loans for trading. The latter is possible through an integrated exchange platform.

Benefits of Borrowing from Crypto Platforms

Have you ever tried to borrow money from a traditional bank? If yes, then you probably know the hassle involved. This new product of borrowing from crypto lending platforms solves many of the hitches experienced in traditional banks.

Easily accessible loans

Anyone can borrow from crypto lending platforms that are reliable as long as they can afford collateral. The issue of credit score no longer matters. 

You will not be required to give personal information such as bank statements and social security numbers to qualify for a loan. These requirements would lock out many needy borrowers, but because they are not needed in this case, crypto loans have become very accessible to borrowers.

According to crypto lenders, these platforms will soon provide the most accessible loans, which is crucial to shaping the decentralized finance (DeFi) sector. Fortunately, many borrowers are looking for accessible funds to expand their investments in digital assets.

Loans with flexible terms

Compared to traditional banks, cryptocurrency lending platforms have more flexible loan plans, interest rates, and repayment periods.

According to the website of one of the best crypto lending platforms, Youhodler, borrowers get a lot of options when applying for a loan. Apart from getting customized interest rates and repayment periods, they also have a flexible loan to value ratio (LTV), a choice of collateral, and the fiat currencies they want to receive their loan in.

The terms and conditions make these platforms very flexible, providing minimum loans, minimum monthly repayments, and more. So, when hunting for an appropriate platform, these are the things to look for.

Fast loans

The application and approval processes are super-fast. Believe it or not, you can get your loan instantly, something you will rarely find in a traditional bank setup. Whether you are new or not to a crypto lending platform, the process of opening an account, adding collateral, receiving your loan, and withdrawing it is pretty fast.

The most incredible thing is that reputable lending platforms approve loans within seconds or minutes. If it has to take longer due to global time differences, internet hitches, or other technical delays, the process will not take more than 3 hours.

And since everything happens from your device, there is no time wastage at all. Investors and entrepreneurs caught up in urgent need of money can rely on this method to take care of their emergencies.

Borrowing in a safe environment

Most people are scared of losing their money to hackers and fraudsters. That’s why it’s important to research the platform you will use thoroughly. 

Make sure your collateral is safe on the chosen platform and check that they use secure websites for transactions and save your collateral in secure environment cloud databases.

Liquidity providing, savings accounts, and earning interest

Enjoy High Liquidity

Creating liquidity pool and pool balancing is a significant role of trusted crypto lending platforms in the current world. They solve major user experience (UX) challenges in traditional peer-to-peer lending platforms. Therefore, borrowers and investors are allowed more flexible withdrawals at any time without having to wait for long.

According to experts, most of these platforms maintain a certain amount of crypto coins. They regulate the amount back to the normal threshold every time it gets lower or higher.

They Provide Crypto Savings and Interest-Earning Accounts

Apart from lending crypto, these platforms also allow investors to save while earning some interest. 

This is how they get crypto coins to lend to borrowers. There is an agreed interest for different digital coins or fiat currency that you save. What’s even better is that some reputable crypto lending platforms accept savings of up to 50+ cryptos and fiat currencies.

The interest rate is usually lower than their lending rates. But for investors who have crypto that they want to save and earn passively, this is a great opportunity. The interest rate ranges from 1% annual percentage rate (APR) to 10% APR in most cases. 

Once you save, you are allowed to control your money because of the high liquidity levels of these platforms.

Enjoy lower borrowing rates and fees

The last benefit to enjoy from the cryptocurrency lending platform is lower rates. 

Although the borrowing interest rates might go as high as 17%, the terms are flexible, which means it is possible to get an affordable interest rate of even as low as 8%. 

On the other hand, the processing fees are lower and affordable, averaging at 2%.

10 Best Crypto Debit Cards To Use in 2022

Crypto debit cards are the must-have cryptocurrency services for every true Bitcoin enthusiast. The cards allow users to withdraw Bitcoins at ATM:s all around the world or use it for shopping online and offline. Each crypto debit card comes with its own bonuses, and therefore it’s actually smart getting all of them for more options and convenience.

1. Advanced Cash

Advanced Cash Is easily one of the world’s most advanced Bitcoin debit card solutions today. The company has a reputable background in the industry, the card is available worldwide, accounts can be registered for both individuals and companies, ATM withdrawals can be done in any currency, there are no maintenance fees, and delivery is absolutely free as well. When ordering a card, you can choose between EUR, USD or RUB currencies or you may as well order them all. On top of funding your account with Bitcoin, you may also use one of the many other funding methods such as Visa, Mastercard, American Express, SEPA, and many more. ADVcash is definitely our favorite when it comes to Bitcoin debit cards.

2. MCO By Crypto.com

MCO is a high reward Bitcoin debit card solution available for US citizens. This platform is unique in the sense that it offers some of the highest cashback rewards in the industry, the cards are made up of composite metal, and can be acquired for free as well. To get a card for yourself you need to purchase CRO tokens and commit to staking them for the next 6 months


3. Nuri

Nuri (Formerly Bitwala) is an all in one cryptocurrency bank that providers both Bitcoin debit cards, and unique IBAN numbers for European individuals, with deposit guarantees of up to €100 000.

4. Wirex

Wirex is the top-notch Bitcoin debit card choice for all EU citizens, they have a great inbuilt app to manage over 20 digital and traditional currencies including BTC, ETH, LTC, EUR USD and much more. Not only that Wirex lets you earn 0.5% cashback in BTC every time you spend using Wirex card. You can also exchange currencies back and forth, and by adding your personal debit card you can also purchase Bitcoin right from the app. all in all, Wirex is truly an amazing experience for handling all of your cryptos online.

5. Cryptopay

Cryptopay is the highest limit Bitcoin debit card available today. With up to €30K in a single transaction, this card is available in the UK, and soon in the rest of the European Area.

6. Revolut

Revolut is a great choice for all EU members, you can spend your cryptos aboard in over 150 currencies with a small 0.5% flat fee or withdraw from ATM up to 200€ per month for free. Whether you are looking for personal or business accounts they have it all figured freeing your time and making accounting easier.

7. Crypterium

Crypterium is a Bitcoin debit card available worldwide, no matter where you reside, the card will be delivered to wherever you are. Crypterium payment system, unlike most competitors, works under Unionpay, and the card can be topped up with various cryptos such as BTC, ETH, LTC, and CRPT.

8. Binance

Binance is a global cryptocurrency exchange platform originating from China. On top of their massive exchange operations Binance also operates various of other features including savings, and staking plans, Binance Chain cryptocurrency, Binance Decentralized Exchange, and Binance Bitcoin debit cards.

9. SpectroCoin

SpectroCoin is one of the oldest original cryptocurrency exchanges, providing payment getaway processing solutions, and Bitcoin visa cards, that are available in the European Economic Area.

10. Coinbase

Coinbase has the largest hot wallet in the industry, operating in over 30 countries and securing more than 20 million customers worldwide. This exchange was founded in 2012 by Brian Amstrong and is widely known as one of the easiest exchanges for purchasing and trading your Bitcoins. On top of that Coinbase operates Bitcoin debit card, and crypto payment getaway.

How do crypto debit cards work?

So, now that we’ve touched on the basics of crypto debit cards, let’s explore how they work in more detail.

For starters, using cryptocurrency in the real world today still has its limitations. You can’t walk into any shop and pay for your order with Bitcoin as most merchants are unwilling to accept the crypto.

Retailers are cautious about digital currencies for several reasons, including uncertain legal status for payment processors, exchange rate volatility, and a still-underdeveloped understanding of blockchain–the cryptocurrencies powering technology–for most of the general public.

Thankfully, crypto debit cards and other “traditional” financial products seek to further legitimize cryptocurrency as valid forms of payment. How do they do this? Here’s an example:

John walks into a local coffee shop that, like most, accepts debit cards. Because a Bitcoin debit card works just like the one you get from your local bank, John has the choice to use his regular debit card or the brand new crypto-based debit card.

John decides to give his crypto debit card a test run. While the coffee shop does not accept cryptocurrency, it certainly takes debit payments. The cashier hands John his cup of coffee, swipes the card and hands him his receipt.

When the cashier swiped the card, the processing company reached into the card's crypto wallet and took the dollar amount of crypto needed for the cup of coffee. The processing company then converted the crypto into regular fiat currency and delivered it directly into the coffee shop's account. This all happened in a manner of seconds, and highlights one more way that crypto is becoming a more accessible form of payment in the real world.

Pros and cons of crypto debit cards

Pros:

Ability to spend cryptocurrency like fiat currency

Reduced or waived foreign conversion fees

Generally multi-currency allows diversified spending

Some cards offer significant cash-back rewards in crypto

ATM withdrawal fees can be waived by some issuers

Cons:

Spending cryptocurrency triggers a taxable event

Some geographical restrictions apply

You must have balance in your wallet to spend

Frequently asked questions

Q. Can a crypto debit card replace my normal debit card?

It depends. Generally speaking, yes. If you hold value in crypto and want to spend crypto as your main source of funds, then yes. Most crypto debit cards are issued by traditional networks like Mastercard or Visa and are accepted anywhere those cards are accepted.

Q. Does it cost money to use a crypto debit card?

It depends on the nature of the transaction. While there are generally no additional fees charged for using your debit card, you will incur fees for selling your crypto when you spend it. Additionally, there may be fees when you withdraw funds from an ATM.