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The Most Interesting NFT Examples: May 2022 Edition

The Most Interesting NFT Examples: May 2022 Edition

Ruth Kise 4 min read
NFT collections are digital objects created according to a single principle. These can be art, virtual land plots, music, and in general everything that can be stored in digital format. We have collected five (actually more) NFT collections of digital art that make up the top among the number of buyers on OpenSea and Looksrare NFT marketplaces. In the article, you will find out about what is in these collections, who their creators are, and how much the lots cost. Prices are relevant in mid-May, 2022. 1. Otherdeed for Otherside Otherdeed is the key to claiming land in Otherside - a 3D metaverse in the spirit of Dungeons and Dragons, that appears to offer a gaming format for Bored Ape or Mutants NFT holders. Each plot of land has a unique blend of environment and sediment — some with resources, some home to powerful artifacts. And on a very few, a Koda roams. As it’s claimed on the platform, there will be 200,000 Otherdeeds in total. The first 100,000 were available on April 30, 2022. The second 100,000 will be exclusively awarded to Voyagers who hold Otherdeeds and contribute to the development of Otherside. For those with Bored Apes or Mutants, Otherdeeds await their claim. For other adventures, it will be available for sale with ApeCoin . Creator: Yuga Labs Items: 97.9 K Owners: 34.4 K Floor price: 2.78 ETH Volume traded: 255.1 K 2. Azuki / BEANZ official Azuki starts with a collection of 10,000 avatars that give you membership access to The Garden - a corner of the internet where digital and physical worlds are blurred. Artists, builders, and web3 enthusiasts are creating this metaverse brand. By choosing one of the avatars, you choose your identity and get access to exclusive streetwear collabs, additional NFT drops, eventual live events, and much more.  Creator: TeamAzuki Items: 10.1 K Owners: 5.2 K Floor price: 8.66 ETH Volume traded: 231.1 K BEANZ (also created by TeamAzuki) are small species that sprout from the dirt in the Garden. Minted as a great friend to an Azuki, they're earnestly driven by the desire to help. However, peas are self-contained to a full degree and ready to pave their own path... Creator: TeamAzuki Items: 20.0 K Owners: 7.5 K Floor price: 1.05 ETH Volume traded: 57.5 K 3. PXN: Ghost Division One of these NFTs would be your login to the new dark side world, where every holder is a ghost. 100 Ghosts comprise one of 100 Regiments under the Phantom’s charge. All members are called to stand side by side to make a revolution and resist the shadow.   The collection of PXN (the underbelly of web3) counts 10,000 avatars and gives access to exclusive clubrooms for onboard NFT communities, and unique ways to interact with the community in web3. Creator: PhantomNetwork Items: 10.0 K Owners: 6.3 K Floor price: 3.59 ETH Volume traded: 25.5 K 4. Bored Ape Yacht Club/ Mutant Ape Yacht Club One of the most famous NFT collections of 10,000 unique Bored Apes— unique digital collectibles living on the Otherside, Ethereum blockchain. Your Bored Ape doubles as your Yacht Club membership card and grants access to members-only benefits, the first of which is the access to THE BATHROOM, a collaborative graffiti board. Future areas and perks can be unlocked by the community through roadmap activation. Creator: BoredApeYachtClub Items: 10.0 K Owners: 6.3 K Floor price: 92 ETH Volume traded: 565.5 K The MUTANT APE YACHT CLUB is a collection of up to 20,000 Mutant Apes that can only be created by exposing an existing Bored Ape to a vial of MUTANT SERUM or by minting a Mutant Ape in the public sale. Creator: MutantApeYachtClub Items: 19.1 K Owners: 12.4 K Floor price: 19 ETH Volume traded: 395.3 K 5. Doodles Doodles are a collection of exciting hand-drawn designs by Burnt Toast. The Doodles universe is ever-expanding and new experiences like Space Doodles are only now available to collectors. Each Doodle allows its owner to vote for experiences and map activations paid for by the Doodles Community Treasury - Doodlebank with $5 million USD. Creator: Doodles_LLC Items: 10.0 K Owners: 5.0 K Floor price: 14.5 ETH Volume traded: 127.2 K Of course, these are not all popular collections. Today there are many interesting offers of NFT tokens of very different formats, whether it's art objects, music, clothes, lands, or the opportunity to book a table in a secluded restaurant. Despite all the ups and downs, the great idea of being a member of Metaverse and the ability to convert literally everything to NFT continues to arouse audience interest and increase market demand. Choose what you like, join like-minded communities, or be the first in the worldwide implementation of the Metaverse.
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Mining Cryptocurrency on a Phone: How Does It Work?

Mining Cryptocurrency on a Phone: How Does It Work?

June Katz 4 min read
Cryptocurrency is distinguished from fiat money by the absence of a single digital bank and control over transactions and payments. It is stored and maintained in a decentralized manner, that is, on the wallets of millions of users around the world. If the bank is responsible for accounting for ordinary money, then in the case of, for example, Bitcoin , the blockchain is responsible for this, which contains records of all transactions ever made. Miners are rewarded for supporting the network, that is, combining transactions into blocks and calculating the key (hash) for the block. That is, people generate keys and try them until one fits. If earlier it could be done using a regular home PC, now it requires much more power. Mining Bitcoins using the SHA-256 algorithm requires so much performance from the equipment that even the most powerful processors are far from the past. And with the advent of ASIC chips, video cards are slowly starting to lose ground. Nowadays people practically do not let mobile gadgets out of their hands, so despite the growing difficulty of obtaining cryptocurrencies, developers have come up with how to mine crypto on phones. In this regard, the question arises, is it really possible to mine cryptocurrency on a smartphone? In principle, this is possible, although we can only talk about coins that differ significantly from "digital gold" in terms of the characteristics of their production. First of all, we are talking about mining on Android-based CryptoNight algorithm ( derived from CryptoNote). These include Monero (XMR), Bytecoin (BCN), and Digital Note (XDN). You can also try mining currencies such as Dash (DASH), Aeon (AEON), QuazarCoin (QCN), Fantom (FTM), MonetaVerde (MCN), or new little-known coins on your Android phone after they are added to applications. Popular apps for mobile crypto mining MinerGate This miner is a specialized pool that gives a chance to earn some crypto on a PC, tablet or mobile phone. The pool program distributes tasks between participants to combine their computing capabilities into a single network. Mining can be done via Wi-Fi or a mobile network. In the settings, you should set that mining can only be done via Wi-Fi or only when the phone is recharging. It is also possible to set the number of cores used for mining and prohibit operation if the battery charge is low. The device does not heat much during the extraction process. The calculation speed is low. It depends on the power of the smartphone and can vary quite widely, for example, on one (budget) gadget you can get 9 H/s, and on another (more expensive) – 17 H/s. But in any case, this is 10-20 times less than the average hand of a personal computer. You can earn about 10-12 BCN per day — 0.0015 USD. ARM Mineral This is one of the best mining apps for Android/IOS in 2022. Not bolted to a specific pool, very simple interface. In the free version, the user is shown a video advertisement of a binary options resource in full-screen format, it is impossible to disable it. The ad-free version is paid. The mining speed is 2.8 kH/s on 4 cores, 3.2 kH/s on 8 cores. The SHA256 and Scrypt algorithms do not run, the earnings for the rest are too small. At the same time, there is noticeable heating and unstable operation of the device under load. Is it worth it? Before mining on an iPhone or Android, you should ask yourself how appropriate it is to do this. Calculating the hashes of cryptocurrency blocks requires a serious and long-term load on the device, for which smartphones are not designed at all. The fact is that the phones do not have an active cooling system, and passive cooling does not provide a normal heat sink. This leads to rapid wear of the device. It should be noted that all the tests did not take into account the cost of used electrical energy and the wear and tear of equipment. If we take into account these factors, the income from mobile mining will not be comparable with the costs.
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The State of Play-to-Earn Crypto Games in 2022: Metaverse NFT’s

The State of Play-to-Earn Crypto Games in 2022: Metaverse NFT’s

Ruth Kise 5 min read
The concept of the virtual world is hardly new. Online and offline games with their infinite worlds are its dramatic confirmation. However, the metaverse is bursting in popularity today. Why? Blockchain mainstreaming and... cryptocurrency! The idea of ​a virtual world existence cannot be without the presence of virtual currency in it. Because, as in reality, any participant wants to have value, identity, and so on. This means, there is the popularity of the NFTs. NFT – non-fungible tokens, they can represent ownership of practically anything, video, art, sports, virtual real estate, and even gaming. They cannot be exchanged from one to the other. Hence, each is unique and accrues value independently. By the way, Mark Zuckerberg took up metaverse realization and renamed Facebook to Meta . The company is working on merging digital and physical worlds within a single platform, an ecosystem of blockchain, and has already created VR glasses, for example, for a virtual meeting with friends or colleagues. Your avatar, which will be present there, can be created and owned as NFT. While we are at an early stage in the generalized metaverse development, local virtual worlds are gaining traction — crypto games. They are a blockchain, decentralized, open-source platform with smart contract functionality, whose task is to transform the gaming experience of users by giving players true ownership of their in-game items through the use of NFT. Their gamers can claim, buy, sell, and trade all assets as NFTs and, thereby – earn.  There are different options on which blockchain crypto game is the best, but judging by their rates in 2021 and 2022, there are 3 at the moment. Let's overview these top ones: All are based on the Ethereum blockchain and are partnering with Polygon (fitting Ethereum second-level blockchain) to solve issues around scalability, speed, and transaction costs. All have similar opportunities and exciting worlds that you can create. And if you're going to dive in, you should get any Ethereum compatible wallet to store all your crypto. Still, there are some gaps between these three. Decentraland   • Runs on PC and Mac. There is no mobile version yet, but it’s in progress. • Crypto: MANA ($2.15), LAND. • You can convert your MANA assets from the Ethereum blockchain to Polygon’s Matic Network. • Plenty of games to enjoy. Some need you to pay according to the creator’s design, but lots are free of charge. • The navigation is as usable as it could be. Just move your avatar around a terrain of adjoining games to see your experiences. Sandbox • Runs on PC and Mac, Android and iOS. OS support coming soon. • Crypto: SAND ($2.81). • SAND can be staked on Polygon. • All games are user-created, and anyone can make them for free. Also, you can create assets as NFTs and sell them to other users. If you want to build metaverse experiences, you need to buy the limited LAND resource.   • Both free and paid games where you can earn SAND and use it to enter paid experiences. GALA Games • Runs on PC and Mac. The mobile version isn’t even planned. • Crypto: GALA ($0.2021). • Main position — "Fun first". There are 5 simple to play games in various stages of development, and no need for Blockchain pro to enjoy them. • Free-to-play games with play-to-earn mechanics allow you to unlock real rewards and start making money. Looking at the market cap growth of cryptocurrency of these play-to-earn games is hard to imagine something that could bring down an investment interest in the crypto-economic sector.  Taking on the psychological human desire to escape from external reality, to have fun, and find a better world, where you are a creator, not a ponce, it is difficult to refuse the opportunity to be in a metaverse. And if in addition to creating and entertaining, you can earn money – it is a win-win long-lasting ecosystem.
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How to Buy And Trade Crypto (And Why)

How to Buy And Trade Crypto (And Why)

Ruth Kise 14 min read
The world’s recent events are causing more and more people to think about the safety of their savings. More and more of them choose to invest in cryptocurrency. Here, for example, your wallet belongs to you only, and no one can freeze your assets; on the other hand , the responsibility of the safety and all operations rests only with you. Therefore, you should first understand the following points. What You Need to Know Before Going into Crypto Getting acquainted with the world of cryptocurrencies is better to start with a choice of strategy. Investing or trading are the main ones. The first implies the acquisition of an asset and long storage. The second is short-term speculation. A trader makes many transactions with digital assets, trying to benefit in a short period. Strategy 1: Investments There are a few types of investments in crypto: Buy and hodl You can buy Bitcoin , Ether, or any other coin for fiat and wait for its rate to increase. If handled properly, such an investment will bring a big profit after a certain time. However, no one canceled the negative scenario for cryptocurrencies, and their value can fall sharply, up to a complete depreciation. Besides, such an investment method means investing not even for months, but for several years or more. Put in a trust This way, you invest in a trader who makes transactions on a cryptocurrency exchange and receives your interest. But still, there is a high risk of loss of invested funds because no trader is secure from damages. ICO You can invest in a cryptocurrency company and become its “stockholder”. The disadvantage of this method of crypto investing is the choice of a valid company as well. Strategy 2: Exchange Trading Trading cryptocurrency is an extremely risky craft. The price of altcoins is volatile, on a day it can fluctuate by 10-20%, sometimes by 50% or more. For this reason, it is better to try trading cryptocurrency from a training account first. The largest cryptocurrency exchanges, such as Binance, Coinbase, Huobi, OKEx, and others, allow users to open demo accounts for transactions without making a deposit. This will allow you to get acquainted with the market and the structure of the trading platform, and practice. Then you can deposit a small amount on the exchange. This will help the user understand his psychology: is he able to suffer losses and not make panic, erroneous transactions, control himself and decide with a cold head. In addition, it is necessary to study the theory, listen to lectures on this topic, take courses, and get acquainted with technical and fundamental analysis. All this will help not only to see in the charts the ups and downs of assets but also to predict them. Other Considerations: Fees Transaction fees are an integral part of most blockchain systems. They perform two important functions. They reward miners or validators, who help confirm transactions, and protect the network from spam attacks. Depending on the activity of the network, the transaction fee can be small or high. Its size is also derived from market conditions. Getting Ready to Take Part in the Crypto Market When you are ready with the strategy, ‌choose the best altcoins to buy. Today there are 2290 coins. Some of them are junk, but some can be very advanced. To make the right decision first you must make an analysis of it validity. It is best to start with Coinmarketcap – there is a rating of all cryptocurrencies by capitalization and a lot of useful information. No matter how reliable the crypto is, you can't trust it with 100% of the investment. It is better to distribute money to several tools, so you can reduce the risks of loss. For long-term investments, experts often say that you should choose cryptocurrencies that are in the top 30 at least. They are more stable, traded on many exchanges, and the probability of a sudden scam is minimal. Less popular coins also can be considered for investment. But it is worth understanding that, besides the risks of the fall in rate, there is also a risk of the slip-off. Follow all social media and forums, and monitor its activity: the more useful news on the topic, the better. If you see the developers do nothing, there is no news, then this means that they have lost interest in their project. It's better not to buy such a coin. It is also important to know if there is activity from investors. Also, some coins can operate only on one blockchain, and some you can use on different. So if you are going to trade your funds, ‌keep it in mind and learn about the cross-chain process.   Storing Crypto When you are ready to buy crypto, you must choose the type of its storage. Cryptocurrency wallet – an app, program, or separate device for sending, receiving, or storing electronic money. They are also can be “hot” and “cold”. A hot wallet connects to the internet and could be vulnerable to online attacks, but it’s faster and makes it easier to trade or spend crypto. A cold wallet typically has no online connection, so while it may be more secure, it’s less convenient. Below there are five types, with a brief description of their advantages and disadvantages: Software Wallet (Bitcoin Core, Exodus). These wallets store crypto funds right on your computer. And you usually need quite a lot of space for this. For example, for a minimum installation of Bitcoin Core, you need at least 145 GB on your hard drive - and this is for only one currency; Online Wallet (Blockchain, Wirex). These wallets keep your coins in the cloud. You can use them from any device, even from your phone. But you need to choose the wallet carefully. If someone hacks it, you will lose all. Hardware/ Cold Wallet (Trezor, Ledger). These wallets are separate devices, so they are much more difficult to hack than a regular computer. But you need to carry them constantly, as well as remember the PIN. Mobile Application (MyCelium, Breadwallet). An IOS or Android app that allows you to manage your tools. Convenient, easy, and fast storage, but with low security. In addition, if your phone was lost, the finder will get full access to the wallet. Paper Wallet (WalletGenerator.net, MyEtherWallet.com).  A special site generates private and public keys, that can you can print or record. Also, remember that except for a sheet of paper on which the keys are recorded - they are nowhere else, so the loss is equivalent to the loss of all the money. For investment, cold wallets are better. Thus, you can keep cryptocurrency on a computer or flash drive. Plus - security, no one can steal funds without direct access to it. For trading, the exchanges are the best. Using it, the client can sell or buy crypto and use additional options. Crypto Exchanges When choosing a cryptocurrency exchange, a novice investor needs to focus on some indicators. Such as: Financial turnover of the crypto platform. Large financial turnover shows enough money in the closures of the exchange, meaning that many traders use such a platform. So, such an exchange is high quality and the trader will not have any problems with it. The reputation of crypto exchange. Fees, which are not the same everywhere. For residents of different countries, crypto exchanges can also set geographical limits. The number of trading pairs on the cryptocurrency platform and their market rate. Payment options: find out how and how quickly you can transfer money to a crypto exchange account, and then withdraw it to your account or card. All cryptocurrency exchanges are divided into: Centralized Cryptocurrency Exchanges (CEX): Coinbase, Gemini, Kraken Platforms, where users can trade cryptos and ordinary fiat. They coordinate cryptocurrency, trading on a large scale, using a similar business model to traditional stock exchanges. Centralized exchanges usually offer their customers support, various trading pairs, and gateways for receiving and withdrawing, as well as additional services, for example, stealing, storage capabilities, IEO or DeFi services. Decentralized Cryptocurrency Platforms (DEX): WavesDex, Bancor, Besk, Uniswap Unlike traditional CEX, on such platforms, transactions and trades are automated by using smart contracts and decentralized applications. This type of crypto exchange is much safer since a well-written smart contract will not allow hackers to hack it. There are also aggregators like SwapSpace, where you can look at several offers and choose the crypto exchange that suits you best.  Swapping Crypto If your end goal is not just to put the purchased crypto in a stash, then you can exchange it for another coin. Swapping is a similar process to trading but with more flexibility. You can exchange any cryptocurrency for another even if the pair is not live on-the-spot market. This eliminates paying transaction fees more than once. In most cases, if you’re only swapping a small amount, convenience is the bigger concern here. That said, crypto swapping applies to any level of volume. Buying Crypto with a Credit Card The fastest way to buy crypto is to use a credit card. The process for buying crypto with a credit card is fairly straightforward: Find an exchange that allows credit card transactions. Your first step is signing up for a crypto exchange that allows you to use a credit card. And be ready to pass the KYC . Double-check that your card issuer allows crypto purchases. Enter your payment method. Set up your transaction. Pay off your balance as soon as possible. Pros and Cons of Buying Crypto With a Credit Card Pros Investing without cash on hand. Potentially earning rewards on your investment. Cons Purchases are often treated like cash advances. Higher fees. Your credit score could take a hit. Even more risk. Bottom Line Digital asset trading needs to be taken seriously, calculated every step, and thought about possible negative consequences. The beginner should first decide whether to invest or trade. Then study the theory, take some courses, and practice with test mode. Then choose the cryptocurrency to buy and be ready to lose. There is no game of luck. Don’t neglect crypto education. Crypto trading is hard work. It may take years to understand how the price of assets behaves in a particular situation. Don’t trust anyone and don’t hurry – do your own research before deciding. Choose the proven platforms for transactions and do not fall for fraudsters' ploys.
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Crypto ATMs: Withdrawing Your Crypto Gains as Cold Hard Cash

Crypto ATMs: Withdrawing Your Crypto Gains as Cold Hard Cash

June Katz 1 min read
For years, the crypto world has been developing mainly in the digital dimension. But the more widely the cryptocurrency is used, the more urgent the need for tools for cashing out becomes. The crypto ATMs allow people to exchange cash for cryptocurrency or withdraw crypto for cash. Operations are carried out quickly, in addition, they are usually not asked to provide documents — that is, transfers and deposits are anonymous. But there are also disadvantages: usually, the commissions for such operations are quite high. In addition to bitcoin ATMs, there are many machines for buying and selling Litecoin and Ethereum . The largest manufacturers of devices are Genesis Coin and General Bytes. According to the CoinATMRadar service, which also shows the location of devices in different cities, there are more than 36,000 crypto ATMs in the world at the moment. At the same time, almost 90% of the total number falls in the United States. Another 10% is almost entirely distributed between Canada and European countries. Whatever it was, the growth in the number of crypto ATMs is considered one of the indicators of mass adoption of digital assets. After all, the more opportunities there are to buy cryptocurrencies, the more people will eventually find out about them.
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How the Crypto Cards Make Lives Easier (With a List of Them)

How the Crypto Cards Make Lives Easier (With a List of Them)

June Katz 1 min read
Spending crypto can be hard in the real life. Thankfully, we're starting to see new products pop up solving that - crypto cards. Today, cryptocurrency users can order and use debit or credit cards to quickly convert crypto assets into fiat currency and buy goods and services online, at points of sale, or to withdraw money from ATMs. Why Use the Crypto Cards But why complicate everything so much and why not just use your regular bank card? The fact is that crypto cards give their users some new features and bonuses. The use of crypto cards can protect you from nasty exchange rates when you're traveling; Some products also offer a virtual card instead of a physical one, making them ideal for online purchases; There's no credit check, so your credit score is not a factor when qualifying for a prepaid debit card; The fewer number of intermediaries, which simplifies and reduces the cost of transactions. Market Offers from Some of the Crypto Market Players  The number of crypto cards presented on the market is constantly increasing. The most popular crypto cards today include: Crypto.com Visa card - 100+ crypto and 20+ fiat currencies. Free to CRO holders. KYC verification is required. Binance Visa card - best card for cashback Coinbase card - no maintenance fees, 4% reward for use in the crypto Gemini credit card - 1-3% crypto rewards which deposit immediately Coinbase credit card - very high safety standards and no maintenance fees Given the fact that PayPal is entering the field of cryptocurrencies, and people’s interest in cryptocurrencies is constantly growing, these products can become much more widespread very soon. Hopefully, this short introduction to the topic will help some of you use your funds more wisely - including those you got through SwapSpace.
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How to Buy Crypto with Fiat Easily at SwapSpace

How to Buy Crypto with Fiat Easily at SwapSpace

June Katz 3 min read
In case you haven’t noticed, SwapSpace does not only collect exchange offers from some of the best crypto-to-crypto exchanges but also allows you to buy crypto with fiat! In this short tutorial, we’ll take you through this process (of course, you can go here yourself and see how easy this is). 1. Choose the Currencies and Amounts Make sure you pick “Buy crypto” in the widget on SwapSpace’s main page. Enter the amount of money you want to spend and choose the currency: Pick the cryptocurrency you want to buy: And click the “View offers” button. 2. Pick an Offer As of now, buying crypto for fiat is available at SwapSpace through our partner Mercuryo*, so you should see their offer on the right-hand side of the screen. Click the “Exchange” button next to the offer. *In the future, we aim to expand the list of our partners, so you will be able to choose the partner that suits you best. 4. Enter the Recipient Wallet and Agree on the Exchange Terms Type in the recipient wallet - the wallet address where you would like to receive your crypto funds after the purchase. Or, alternatively, you can connect your wallet (we support Trezor and Simplehold). After clicking “Next”, you will have to agree with special terms and conditions; please read them carefully and click “Next” again. You've successfully created an exchange! 5. Sign in to Use the Service Sign in with your e-mail address or a phone number. You will get the security code and will be asked to enter it before you can proceed. 6. Complete the KYC If this is your first time using Mercuryo, at this point you may be asked to undergo the KYC procedure. In this case, you will have to complete a couple of additional steps by following the instructions on the screen. Luckily, Mercuryo's team is quite thorough with the instructions, so this process is quick and painless! First, you will be asked to upload a photo of your ID. Then you’re going to provide a picture of yourself. That’s it! While you’re waiting for your data to be checked (which usually takes 5-15 minutes), you can proceed with the transaction. Your money will be safe: the transaction will be complete only when you successfully pass the KYC, otherwise you will get a refund. 7. Transfer Your Funds Select your preferred method of payment. The supported payment methods are Visa, Mastercard, Apple Pay, Google Pay. Choose the one that you prefer, fill in the necessary details and click the button with the fiat sum on it. This will transfer your funds to Mercuryo.  8. Await the Exchange Finalization Wait for the purchase to be processed. You will see the message that your payment has been successfully processed at the end of the exchange. As you see, the process is pretty straightforward - and if you still have any questions after this tutorial, we’re here to help!
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Buying Crypto Without KYC: Why, How, and Where

Buying Crypto Without KYC: Why, How, and Where

Ruth Kise 7 min read
More and more countries are beginning to adhere to the norms of KYC and AML, which have already entered ‌force in the European Union and the US. According to them, financial institutions must know their client (KYC) and resist money laundering, scams , and hacking. According to KYC, these databases are checked against various law enforcement agencies' watchlists . Therefore, identification is used to prove that the trader complies with the law and has the right to make transactions. In addition, verification is a method of insurance. For example, in the event of a cyber-hack or a technical failure, the trader will be able to prove that he owns his account and can get his funds back. KYC: Cumbers and Risks To verify the exchange, users might be required to make a passport photo, a selfie with a passport, a photo with the address of the place of registration in the passport, a driver's license, a TIN, and sometimes even an electricity bill. Verification may be required after account registration and/or at the time of withdrawal. In addition, if the transaction seems atypical or suspicious to the moderators, they will require additional documents from the user, for example, confirmation of the source of income (contract).  Due to this, the process can be inconvenient for users – transaction processes are delayed, traders lose on rate changes during verification, or the exchange may block the account because of formal inconsistencies in documents, although the trader trades honestly. Another point is that the requirement to provide documents contradicts the key principle of cryptocurrency – anonymity, freedom and lack of control over the movement of the financial flow . Moreover, providing data to minimize the likelihood of fraud also carries some risks: data leaks are almost inevitable; your data can be shared with third parties and government agencies; leaked or stolen data can be used in an attempt to steal your coins (phishing). Thus, the desire to keep anonymity is so clear and it is still possible. Privacy is Legal First, let’s say that privacy is one of the internationally fundamental human rights. You don’t break the law if you operate within the imposed limits on cash payments (usually around $10,000). And if some users prefer to remain anonymous, some simply want to start trading as quickly as possible, without wasting time waiting for confirmation from the exchange administration; this does not mean that they are necessarily fraudsters. So if you are one of those who wants to stay anonymous and ready to lake risks – the following information will help you ‌make the right choice and deal with your crypto safely. Where to Go to Avoid KYC Most of the crypto exchanges allow you to operate anonymously, but some have withdrawal limits and can feature partial KYC verification. Let’s overview usable types of exchanging platforms: Altcoin Trading Exchanges Binance To open an account on this world’s largest cryptocurrency exchange, you only need an email address. After it users are free to deposit, withdraw, and trade up to 0.06 BTC per day without KYC verification. Spot trading on Binance doesn’t also need verification. However, users who transact large volumes of BTC will need to complete the KYC procedures so that they can transact on the platform. KuCoin This one also offers a wide variety of coins to choose from, as well to purchase with a credit card. All in all, it is a great alternative to Binance. The blockchain imposes withdrawal limits up to 5 BTC per day without KYC. IDEX This decentralized cryptocurrency exchange is specially designed for trading Ethereum and Ethereum-based tokens ( ERC-20 ). To identify themselves, traders only need their wallet addresses. After unlocking your Ethereum wallet, you need to deposit tokens on the exchange, and you can start trading. Also, we should say that if you are going to trade cryptos for fiat, then you should expect to do KYC as well. But there are some ways to get cryptos without ID. Peer-to-Peer Exchanges P2P exchanges don’t hold users’ funds, but rather connect buyers and sellers. HodlHodl   A noncustodial Bitcoin exchange provides escrow service by creating a multi-signature wallet between the users. They do not force you to fill in KYC details, therefore giving you the option to stay anonymous. HodlHodl has a rate of 0.6% shared between both parties and no limits.  Bisq It is the world’s only fully decentralized p2p exchange with a 0.001 BTC – 0.001 BTC rate. This platform is one of the most advanced in the industry and lets you sell and buy bitcoins for fiat. However, it still has low volume and might be difficult for new users. AgoraDesk This fully non-custodial exchange offers a variety of benefits. However, if you want to buy bitcoins for cash, you can find a person who will sell you bitcoins at a meeting – the exchange supports the purchase and sale of BTC for cash. It even offers cash by mail, no KYC, noJS mode, Tor, and I2P, and not even email are needed for registering.  Instant Swap Exchanges Another way is to use instant swap exchanges, such as the ones offering their services at SwapSpace , where you can avoid KYC and currency limits. Such platforms do not require account creation, and they have a large variety of coins to choose from. Xchange The platform provides competitive rates and high transaction volumes. It also operates both web and CLI versions, and can therefore be utilized inside Tails, or Whonix operating systems. StealthEX StealthEX is a privacy-focused noncustodial cryptocurrency swap exchange. They provide over 300+ assets with limitless trading potential. Additionally, StealthEX swaps can also be done through the Telegram bot. SimpleSwap This platform has an extensive set of over 300 different altcoins to choose from, no signs ups are required. It offers both fixed and floating fees, and unlimited swaps, of course. What can trigger KYC? However, blockchains are still on the lookout for frauds and some transactions can cause random identification requests. So there are few trigger events that can cause selective verification.  Going over the withdrawal limits. Unusual transaction activity. For example, an unusually short period of holding funds or frequent selling of coins at significant losses. Also, larger and unusual transactions in cash form also can seem to suspect exchanges. Rise of suspicion that your tokens have a criminal background. If you are going to operate with big amounts, check your Bitcoins for cleanness.
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How to Recognize a Crypto Scam: 7 Warning Signs of Pump-And-Dumps And Other Fraud

How to Recognize a Crypto Scam: 7 Warning Signs of Pump-And-Dumps And Other Fraud

Ruth Kise 7 min read
As you start using cryptocurrencies, you realize that, since crypto is a new financial mechanism, such transactions are associated with risk. Every month dozens of new tokens and apps launch. Blockchain technology is developing, and even experienced investors may find it hard to keep up with its rapid pace. We are not talking about the unpredictability of markets. The crypto market opportunities grow the interest among a broad pool of investors and automatically pander to frauds. Among successful blockchain-related startups and legitimate cryptocurrencies, attackers still try to warm themselves into users' confidence. We've talked about some scams before - now it's time for a deeper look. The Most Notable Scams of 2021 According to Chainalysis reports crypto scammers stole around $7.7 billion from people through various crypto frauds and pumps-and-dumps this year. Here are some of them: Squid Coin A cryptocurrency inspired by the popular show "Squid Game" created significant hype among investors reaching values of around $3,000 in a matter of few weeks. Even legacy media fell for this altcoin . But the developers abandoned the project and fled, robbing investors of $3.36 million. It was a rug pull - a malicious method in the cryptocurrency world, where crypto developers abandon a project and escape with the funds they got initially. SavetheKids Charity Token The cryptocurrency was promoted by e-sport social media influencers as a token that redistributed the wealth of charities. Followers were scammed into buying the coins but later drawn into various pump-and-dump schemes that devalued the currency. In this scheme, proponents typically artificially pump the crypto price up through false advertising and ruthless promotion to sell their tokens and pocket the profits, while investors watch their money going down the drain. Africript South African brothers Ameer and Raees Cajee created the cryptocurrency exchange service called Africript in 2019. Both vanished after announcing that $3.6 billion in bitcoins was stolen from their platform as a result of a hack. However, the story is still unclear, and investors pointed fingers at the Cajees, trying to compensate their funds. Bored Ape Yacht Club NFTs Crypto fraudsters tricked Calvin Becerra into sending over three NFT digital art pieces from the 'Bored Ape Yacht Club' collection under cover of technical support. It is counted that each of them was worth $225,000. But Beccera declared the three apes were together worth $1 million. Poly Network Poly Network is a decentralized finance platform that went through one of the biggest hacks of the year. A hacker found a fault in the protocols that let more than $600 million from users' accounts transfer to his wallet. However, the hacker was a 'white hat hacker' (a nod to the term defining an ethical hacker that tries to expose security flaws so they can be fixed before a nefarious actor comes along). In a few weeks, the hacker returned the complete sum of money and even got rewarded $500,000 by the Poly Network for exposing the vulnerability. How To Recognize a Crypto Scam? There are several methods fraudsters use to manipulate you. Some signs below can help you avoid crypto frauds and keep your funds safe. 1. Hurry. In most cases, scammers hurry their clients and try not to give them time to understand what is happening. Often they use manipulation and threats for this purpose. Do not go along with those who try to confuse and rush you, do not forget to get acquainted with all the available information. Do your research, find the project white paper, and read through it. The document should lay out the background, financial models, legal concerns, SWOT analysis, and a roadmap for implementation. 2. Social media promotion. If suddenly the people you follow (except for known financial experts) are talking about a cryptocurrency, stop and ask yourself, why is this media influencer doing this. It's best to check out whether the project has its website and social media presence. Go straight to the source instead of relying on information from third parties. 3. Exclusive information. To attract attention, fraudsters use a ruse about secret trapdoors in the system. On social networks, fraudsters often share information about an allegedly erroneous exchange rate or successful exchange chains. Both are the loss of money. 4. Low data verification requirements. If you got requirements to operate with tokens in payment systems with low data verification, such as QIWI, then you should take this very carefully. Fraudsters very often use the features of these systems in their favor. For cryptocurrencies, these are non-refundable transactions. 5. Too good to be true. Refuse if you see offers that promise outstanding gains such as free coins and NFTs – often extending into double or triple figures. Pump-and-dump schemes also fall into this category, where the costs of digital assets are bloated, provoking investors to get applied for fear of missing out. Then they’re left holding cryptocurrency that’s worthless when the price suddenly falls. 6. Cryptocurrency trades. Take a look at how it goes. If it's on a well-regarded exchange, it's more likely to be a safer asset. Legitimate companies and endeavors make the system itself and the progress of the token sale easy for probable investors to view. Look for the token sale figures as the ICO is going on. Better yet, monitor the token sale over time to see how it is moving. 7. Fake applications. Another common trick that cryptocurrency investors often fall for is fake applications placed on Google Play and the Apple App Store. Although such applications are usually quickly recognized and removed, some users may become a victim. Thousands of users make such a mistake and download fake applications for working with cryptocurrencies. Investments are always risk-related. In addition to the currency crash due to economic or political movements, there is a risk of hacking the smart contract of improperly secured blockchains. Crypto exchanges also can be hacked . But where risk is high, there are more opportunities. To keep funds a far lesser degree of danger, learn how to properly manage your risks. And the last piece of advice: select and operate only with trusted exchanges with licenses verified by users - such as those offering their services through SwapSpace .
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What is Pirate Chain (ARRR)? How to Buy Pirate Chain?

What is Pirate Chain (ARRR)? How to Buy Pirate Chain?

June Katz 5 min read
Pirate Chain (ARRR) is the most anonymous and private cryptocurrency, as its developers claim. It’s based on an asset chain on the Komodo platform, which is a fork of ZCash — a privacy-focused chain. Pirate Chain was launched by a group of developers from the Komodo network. Komodo has kept all the privacy features of ZCash, so it makes sense for Pirate Chain to utilize them. However, Pirate Chain developers have built on these features to ensure even higher levels of anonymity. Here’s a short overview of what Pirate Chain can offer its users. Pirate Chain Features Zero-knowledge proof (zk-SNARKS) zk-SNARKS (or Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) is a zero-knowledge method of constructing cryptographic proofs. Zero-knowledge proofs allow verifiers to check the truth of a statement sent by another party without knowing the details about the statement. Zero-knowledge Proof of Knowledge goes one step further, not only allowing to verify the statement itself but also the fact that the sender has the answer. Being succinct and non-interactive means that the verification takes a short time and doesn’t require exchanging information back and forth several times. zk-SNARKS is a very secure method of anonymizing (shielding) the transactions, as there’s no need to publish the details about the sending and receiving addresses, inputs and outputs. However, the way it’s employed by ZCash which has pioneered it leaves some information unprotected since the shielding on ZCash is optional. Delayed Proof-of-Work Delayed Proof-of-Work (dPow) is a security mechanism built upon the Proof-of-Work consensus protocol. The Pirate Chain periodically makes block-hashes, which are in essence the snapshots of this chain. Those snapshots are then group-signed and inserted by notary nodes into the main Komodo chain and the Litecoin chain through the process called notarization. This way, if an attacker wants to change some information within the block on Pirate Chain, they have to also rearrange blocks on both Komodo and Litecoin chains, which requires enormous power. Tor support In order to obfuscate not only sender and receiver blockchain addresses, but their IP addresses, Pirate Chain developers choose to support the Tor network. This is a proven tool for people wanting to protect their anonymity. Forced shielding As it was said above, the shortcoming of most of the anonymous networks is that anonymity is optional, left for the user to decide. This prevents the total fungibility of the tokens on those networks, as some of the transactions still can be traced and the token’s ‘baggage’ can be seen. Pirate Chain avoids this issue by forcing 100% of the transactions to be shielded. Pirate Chain (ARRR) Pros and Cons Pros The obvious argument for Pirate Chain is its anonymity, as there is a lot of users who value their privacy. The devs claim that ARRR crypto is better than other privacy coins — for example, it would win the comparison of Pirate Chain vs Monero ; The network is secured very well, allowing it to easily withstand the 51% attacks ; There is a strong community on social networks; It’s being actively developed. For example, there is a plan to roll out a wrapped Pirate Chain token (wARRR) on Binance Smart Chain on September 20, 2021, which has got DeFi fans quite excited. Cons The network’s privacy, which is its main selling point for its users, is a concern for some other people: for example, there is no way to know how much ARRR is in the hands of the whales. Where to exchange Pirate Chain (ARRR) Exchanging or buying ARRR is quite easy. Some of the Pirate Chain exchange options are KuCoin, Gate.io, Bitcoin.com Exchange, Changelly PRO, and CoinEx. One can also use SwapSpace as their Pirate Chain coin (ARRR) exchange, following this step-by-step guide: On the SwapSpace homepage, select ARRR in the “You send” section and the cryptocurrency you would like to receive in the “You get” section. Enter the amount of ARRR you want to exchange. Choose the instant exchange service that suits you most. Specify the recipient address and check if all the data is correct. Send your ARRR coins to the address you will see on the screen. Wait until the exchange is complete. Where to store Pirate Chain (ARRR) The best way to store Pirate coin (ARRR) is in the wallet developed by the Pirate chain team. This wallet comes in several variations: Treasure Chest, Skull Island, Pirate Wallet Lite, and Paper Wallet. Among the recommended wallets there is also Verus Desktop. Final thoughts Pirate Chain crypto is a great way to ensure the anonymity of the transactions, making it invaluable for those users who take their privacy seriously. It combines several different approaches to security in a way designed to protect every user of the ARRR token. This, together with the strong community and active development team, is very exciting for the Pirate Chain’s future. 
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Best Cryptocurrency to Mine in 2021: How to Make a Profit from Crypto Mining Among All The Competition?

Best Cryptocurrency to Mine in 2021: How to Make a Profit from Crypto Mining Among All The Competition?

June Katz 22 min read
What Is Cryptocurrency Mining ? Cryptocurrency mining is one of the ways in which crypto’s circulating supply gets expanded. Although there are other ways like ICOs, mining is the oldest of them. It was introduced together with the first crypto — Bitcoin , and is a part of Bitcoin’s reputation of being “digital gold”: it’s bound to remind the public of scarce and precious metals. As in the Gold Rush, the prospector looking to get rich from mining needs to get some equipment and join the ranks of thousands – or millions – of dreamers like him, to compete with them for rewards, which is as much a game of skill as it is the one of luck and chance. So, what is it exactly? Cryptocurrency mining usually requires solving complex computational puzzles. This process has a double purpose: the puzzles are there not just to confound miners: they are needed to verify blocks (consisting of multiple transactions) so that they can be added to the blockchain; miners who keep the network secure by solving the puzzles get rewarded for their work. In fact, the oldest software protocol used in the blockchain networks is called Proof-of-Work, because to get the reward, the work done by the first miner to solve the puzzle has to be accepted by all the other nodes in the network. The puzzles involve the cryptographic challenge — hence the name, cryptocurrency — with a brute force mechanism which is usually called hashing . The chance to be that first person who can claim the reward gets lower when many people with the ability to solve the puzzles join the network — the speed with which different solutions can be computed across the network is called its hashrate . So, the prospective miner has to be just a little bit luckier than others — as well as have the fast-enough hardware. The types of hardware used for this are called CPUs (Central Processing Units), GPUs (Graphics Processing Unit), and ASICs (Application-Specific Integrated Circuits). Things to Consider When Choosing a Cryptocurrency to Mine in 2021 As you may already know, or maybe have noticed just now, the process described above just says “cryptocurrency mining” without specifying which one. This is because there is a wide selection of cryptocurrencies to mine today. Here are some things to look at when choosing the best currency to mine for you personally. Cryptocurrency Features The most important factors are, of course, the ones inherent to the chosen currency itself: Different coins are designed to contain different numbers of transactions in one block, meaning that the frequencies with which block rewards are minted can differ across networks too; Block rewards differ not only in frequency but in size. Make note of the block reward for a coin, as well as whether there are halvings and if so, when; Different blockchain networks may use different variations of the hashing algorithm or employ different levels of puzzle difficulty. This can translate into differences in energy consumption volume across coins; The currency’s popularity is also a factor since it affects the network size: the more competition there is, the more taxing mining would be. This can affect — again — electricity consumption, accelerate wear and tear on equipment, as well as require upgrading and expanding mining rig regularly just to keep up; Another obvious factor affecting mining profitability in 2021 is the coin’s price: easily mineable but cheap coin may not bring as much profit as you’d like. Cryptocurrency price predictions are also important to consider: a coin with great prospects is probably a good choice for mining. Your Location The next group of factors that can influence the choice of a cryptocurrency to mine concerns where in the world you are, or rather where your mining rig is. Since electricity is one of the main resources used to mine crypto, you need to consider not only its consumption volume, which we already looked at, but also its price. Electricity costs are very regionally dependent so do your research. For example, generally, if you live somewhere with prices above $0.14/KWh, it’s not worth it; The regional regulations may also affect the choice of the cryptocurrency to mine: if a country hasn’t banned all crypto outright, it may still heavily regulate some particular currency mining or its subsequent trading; Hardware costs and accessibility may differ from location to location, so you may be limited in your choice in this way too. Mining Hardware This is probably the most obvious factor of all when thinking what is profitable to mine among mineable cryptocurrencies. The initial costs of the mining setup, including taxes, shipping, and installation; Or, for solutions like cloud mining, renting costs. Is Cryptocurrency Mining Profitable in 2021? Despite all the associated costs described above and other possible difficulties, overall, cryptocurrency mining is still profitable — otherwise, nobody would do it. For example, with the coins whose price predictions are good, one of the profitable strategies is mining and holding until they grow in price. Consider that the growth in electricity prices is often limited to 1–2% a year — far from the typical crypto price growth rate in a bullish year. A good rule of thumb is to note the coin halving date if there is one: despite the diminishing reward, as this process cuts the inflation rate and increases scarcity, the price often surges after a delay. For example, Bitcoin price grew more than 6x within the year after the last halving, which took place in the spring of 2020. Since one of the biggest costs to consider while calculating crypto mining profitability is the hardware cost, let’s take a closer look at the different mining setups. Types of Mining: What Hardware to Use? CPU CPU mining is the oldest method, requiring the least specialized hardware: there is a CPU literally in any computer. So, if the network has a small hashrate, meaning a small competition pool, it’s possible to mine a cryptocurrency on a home PC. So, on one hand, this way demands the least investment, but on the other hand, as soon as the value of the crypto starts to grow, CPU mining very quickly becomes obsolete: there’s basically no chance to compete with another miner with the average CPU speeds. GPU GPU mining is the “next generation” after CPU mining. Due to their primary function — graphic processing — GPUs are good at performing some specific calculations, and they turned out to include calculations used in mining, thus giving miners using them an edge. Some cryptocurrencies can still be mined effectively using GPUs, although current GPU mining setups are a far cry from the ordinary (albeit powerful) video cards which could be enough in the early days. Now, those miners who don’t use ASICs usually have many GPUs bundled together for that purpose. One unintended negative consequence of GPU mining is that it has been seriously driving up GPU prices, which affects everybody who needs a computer with decent graphic performance: artists, designers, video content producers, gamers, and many more. ASIC The newest generation of mining software is called ASICs. Those are computer chips used for one purpose only — cryptocurrency mining. Most of the cryptocurrency mining now is done with ASICs, since they are the only things still allowing users operating them to be competitive in most cases. ASICs, however, are quite expensive and require some special skills in setting up. Ways to Mine Crypto in 2021: Best Practices Besides differences in the ways to mine crypto based on the hardware used, there are also different approaches to crypto mining based on the method. There are three main ways: solo, pool, and cloud mining. Solo Mining Solo mining is the first and most obvious approach. To do it, a miner has to buy the equipment, set up specialized mining software, and start mining. The main advantage of this approach is that the miner is completely independent — there’s no need to share the hardware or split the mining rewards with anybody. Also, this way can be satisfying on the “ideological” level: solo mining equals decentralization, just the way crypto was intended to be. Most of the disadvantages of solo mining stem from the fact that by 2021 crypto mining has gotten seriously competitive, which means that to mine most cryptocurrencies profitably, one needs a serious setup, which can run up to $10,000 — otherwise, the chances of getting any kind of rewards are very slim. Pool Mining Pool mining entails buying the mining equipment and, as the name suggests, joining a pool — a setup made out of many such contributions, essentially functioning as a single mining entity. A pool has more computing power than any one person can usually afford, which means more chances to win a mining reward, even if the individual setup is not so expensive. So, this is the main advantage of pool mining compared to doing it solo. On the other hand, mining rewards are split between all the miners in the pool, which may not feel good to the miners who feel that they could scrounge enough power to be competitive on their own. Secondly, mining pools are usually managed by so-called mining pool operators, who take their cut of the profits. Besides the obvious losses, this may also be uncomfortable for many people since it means essentially letting the third party into the mining process — the very thing that crypto set out to destroy. Lastly, although the equipment needed to join a pool may not be very expensive, the miner still has to buy it. Cloud Mining Cloud mining can be seen as an evolution of pool mining. The difference is that instead of buying equipment to join, a miner can lease or rent a part of the existing mining farm, or cloud. The miners get part of the reward proportional to their contribution. The advantages and disadvantages of this method are pretty much the same as with pool mining, although cloud mining doesn’t require an initial investment and therefore may be more attractive to the miners who are just starting out. What Are the Best Cryptocurrencies to Mine? 10 Most Profitable Coins for Mining Zcash Zcash is a fork of Bitcoin with improved anonymity — there are no addresses or other identifying info in the transaction record. Zcash is hard to mine solo in 2021, as the network’s hash rate is very high now, so the best bet would be to join a mining pool. Consider in your calculations that, as usual, pool mining requires an initial investment — for example, ASICs cost $900+. Block reward: 3.125 ZEC Block time: ~75 seconds ZEC price: ~$153 Next ZEC halving date: 2024 Ravencoin Ravencoin network is designed to facilitate light and easy instant payments. It has been forked off of Bitcoin and launched in 2018. Ravencoin is one of the most beginner-friendly coins to mine: it’s enough to use consumer-grade equipment to get results. The project’s team is actively working against the possibility to mine their coin with ASICs, changing the algorithm several times to cut those miners off. The current algorithm is called KAWPOW, and it works best with GPU pool mining. Best hardware to use: GPU Block reward: 5,000 RVN Block time: ~1 minute RVN price: ~$0.15 Next RVN halving date: early 2022 Best for: new miners Ethereum Classic Ethereum Classic is a result of a fork in the Ethereum blockchain, intended to keep the original chain alive. The advantage of this coin for a new miner is that it can be mined using GPU, i.e. not just high-powered ASICs. Note that Ethereum itself is planning to change its protocol to Proof-of-Stake in 2021–2022. This may mean an interesting future for Ethereum Classic since the current Ethereum miners could decide not to waste their mining setups and switch to ETC. If this is the case, it may become harder for the new miner to get into Ethereum Classic mining in the future. Note that instead of halving, ETC goes through a reduction: block rewards are not cut in half but instead get 20% lower every 4 years. Best hardware to use: ASIC Block reward: 3.2 ETC Block time: 13 seconds ETC price: ~$70 Next ETC reduction date: early 2022 Best for: the miners who cut their teeth on Ethereum Dash Dash is a currency with a focus on instant payments. It’s also one of the best cryptocurrencies to mine in 2021 considering its investment/rewards ratio. It uses X11 hashing protocol, which is, like Ravencoin’s protocol, a development aimed to deter ASIC miners and keep mining decentralized as long as possible. Dash mining is mostly done with GPUs and as such, this currency is considered to have a low barrier for entry. Best hardware to use: GPU Block reward: ~2.7 DASH Block time: 2.5 minutes DASH price: ~$241 Next DASH reduction date: early 2022 Best for: new miners Monero Monero is another privacy coin that’s great to mine in 2021. Monero is one of the better-known privacy coins. It doesn’t require an ASIC to mine and instead can be mined using CPU or GPU. Monero doesn’t have halvings, but the block reward is going to be gradually reduced to 0.6 XMR, which it’s going to hit around May 2022. After that, it’s going to stay at this level. Best hardware to use: GPU Block reward: ~0.88 XMR Block time: ~2 minutes XMR price: ~$305 Best for: new miners Dogecoin Despite being a meme coin, Dogecoin is still one of the most lucrative cryptocurrencies to mine. Dogecoin gets a lot of attention, so its price can surge very quickly sometimes, although it’s not always predictable. This helps DOGE miners turn a hefty profit from time to time. On the other hand, Dogecoin uses the Scrypt mining algorithm, which means that it’s best to use ASICs to mine it, preferably in pools. Note that Dogecoin hasn’t had a halving since 2015. Best hardware to use: ASIC Block reward: ~ 10,000 DOGE Block time: ~1 minute DOGE price: ~$0.3 Best for: miners with low risk aversion levels Verge Verge is a cryptocurrency designed to combine good user experience with security in day-to-day transactions. Verge supports five hashing algorithms: Namely, Scrypt, X17, Lyra2rev2, myr-groestl, and blake2s. This means that this coin can be mined using many different setups, including GPU/CPU mining accessible for beginners. Best hardware to use: ASIC Block reward: 50 XVG Block time: ~34 seconds XVG price: ~$0.03 Next XVG halving date: early 2022 Best for: miners who are not afraid to dive into technical details Peercoin Peercoin is a sustainability-focused cryptocurrency. It was the first cryptocurrency using a hybrid Proof-of-Work and Proof-of-Stake consensus to reduce energy consumption. Peercoin uses the SHA-256 hashing algorithm, same as Bitcoin, and can be mined using any hardware that can be used to mine BTC. Nowadays Peercoin is not so popular anymore, but it works well as a starting point, for example, for a miner wanting to get into BTC. Best hardware to use: ASIC Block reward: 55 PPC Block time: 10 minutes PPC price: ~$0.92 Best for: new miners with a great setup but needing “training wheels” Vertcoin Vertcoin was modeled on Litecoin as another ASIC-resistant cryptocurrency. It uses the Lyra2REv3 hashing algorithm. As opposed to Litecoin, which eventually switched to primarily ASIC mining, Vertcoin still can be mined using GPU, with pool mining being a recommended way. Best hardware to use: GPU Block reward: 25 VTC Block time: 2.5 minutes VTC price: ~$0.6 Next VTC halving date: late 2021 Best for: new miners Decred Decred is another one of the mineable coins founded in 2016 that started making waves recently. It’s heavily community-oriented. As it’s relatively obscure, it's still one of the most profitable crypto coins and can be considered one of the new coins to mine. This currency is using Blake256R14 algorithm and requires an ASIC miner. Best hardware to use: ASIC Block reward: ~7.27 DCR Block time: 3 minutes 41 second DCR price: ~$178 Best for: new miners not minding unknown coins Mining Profitability Calculators To make things easier for a new miner trying to decide which cryptocurrency to mine in 2021, there are numerous profitability calculators online where one can plug in the necessary parameters such as electricity costs, hardware type and model, hashing algorithm, and others, and see how profitable crypto mining will be for him or her. Mining Bitcoin in 2021: Is It a Good Idea? Bitcoin mining in 2021 is a far cry from the times when you could just do it on your home PC bought for pennies and get 50 BTC block rewards. In other words, it's not the best coin to mine in 2021. However, you still can mine BTC and even get a good profit – it depends on your investment abilities, i.e. whether you can buy good hardware. If you can’t afford a high-quality mining rig, you can also join a pool or a cloud. There are also some external circumstances to watch for. For example, there was an unexpected advantage for western miners in 2021: China clamped down on mining. As a result, the number of miners in the network has fallen to about half as much as it has been, which makes mining easier and more profitable. The difficulty of the puzzles has already been adjusted, but the results still ripple through the community. Still, it might be best to look into what altcoin to mine, as listed above. Advantages and Disadvantages of Mining Cryptocurrency in 2021 Pros If you can afford the investment in equipment and are not very risk-averse, cryptocurrency mining is a great passive income source; One can choose the currency to mine, make necessary calculations, and do their own research to determine whether it’s worth it: for example, there are cryptocurrencies with the hard cap, i.e. only the predetermined amount will be mined, and you can use it in your calculations. Cons Crypto mining used to be a very lucrative venture, but now there’s a lot of people doing it so a single miner gets fewer rewards; Energy consumption: many people consider crypto mining a “dirty” process, so for environmentally-conscious people, it’s not a great look. Crypto Mining VS DeFi: Passing Fad or a Revolution in Making Profits on Crypto? Is Mining Alive and Profitable after the DeFi F arming Boom? DeFi is another way of making profits on crypto but it’s not clear whether the two should be compared. There is an interesting dynamic: to yield farm, one obviously should already have crypto, so yield farmer basically should watch both peaks and troughs in prices: buy low, stake high. Another thing is that while farming one can’t use the bulk of his crypto, so (to avoid FOMO) the farmer should make up his mind to hold. On the other hand, miners are free to sell their crypto as soon as they get it, so there’s less pressure to plan long-term; obviously the higher the price, the better. The best thing would probably be to hedge one with another: focus on mining new coins while the price is high and on buying them while the price is low, while continuously yield farming. Final Words Cryptocurrency mining can still be very profitable in 2021. However, there is a lot of factors to consider, including the features of the coin itself, where you are, and what hardware you can afford. The best bet for a new crypto miner in 2021 is probably using a mining pool or cloud, as the field has become quite competitive. There is a lot of information to help a beginner in crypto mining to choose the right coin, hardware, and method to start, so as always you are welcome to do your own research. If chosen well, crypto mining can become a good source of passive income for a long time. Frequently Asked Questions Which cryptocurrency is the easiest to mine in 2021? The easiest cryptocurrencies to mine in 2021 are probably the ones that are ASIC-resistant — Monero, Dash, Vertcoin. They don’t require specialized hardware, instead making use of GPU chips that are in many home computers. This makes it easier for a new miner to start making sense of the crypto mining process. Note that the easiest coin to mine doesn't equal the best coin to mine, or even the most profitable cryptocurrency to mine. What is the best crypto to mine right now? The best crypto to mine in 2021 — right now — is probably different for every miner, as you have to consider all the details like electricity costs, hardware affordability, etc. You are advised to do your own research to decide for yourself what is the top currency to mine. What is the best cryptocurrency for cloud mining? The best cryptocurrencies for cloud mining are those that require investment-heavy setups and are sufficiently stable so that the investor doesn’t lose money during his contract. For example, Bitcoin mining can be worth it, since mining it efficiently solo or even in a pool requires a lot of money in equipment costs. Try to play around with mining profitability calculators to find out more. Is it worth mining Ethereum in 2021? It may still be worth it to mine Ethereum in 2021, but you should consider what setup you can afford as it's not the easiest coin to mine. Also you should note that with rising difficulty in mining, even if the coin goes to the moon, your profits might be steady but probably not in the millions of dollars anymore. Is mining pool more profitable than solo mining? Mining pools probably should be considered more profitable than solo mining in 2021, when the competition is that high. Mining pools offer less profits at a time than solo mining, but more opportunities to get profits — individual miners have less chance to add blocks nowadays, especially to large chains.
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Crypto for Free: Top 3 Bitcoin Faucets

Crypto for Free: Top 3 Bitcoin Faucets

June Katz 4 min read
What is a Bitcoin Faucet? Bitcoin Faucets are websites or apps where you can get a certain portion of BTC for free. In the past, when the main goal was promoting digital cryptocurrency among ordinary people, users could get up to 5 BTC for each claim. Nowadays, instead of Bitcoin, faucets give away Satoshi — its smallest indivisible unit equal to 1/100 millionth of BTC, for completing tasks ranging from playing games to watching ads or entering a captcha. It might not be clear from the get-go why there would be many websites giving crypto entirely for free, as it seems. Nowadays, these faucets collaborate with businesses and stay afloat as long as they make enough profit in ads. Since many people use such faucets and some of them can potentially be scams , find below a list of trustworthy Bitcoin faucets.  Best Bitcoin faucets Freebitcoin This is probably the most well-known Bitcoin faucet and it has more than 42 million users. There’s the traditional way of getting BTC when you get coins every now and then and the website also holds things like games, online casinos, and weekly lotteries. They even advertise winning a Lamborghini on the main page. The website claims that one can win up to the 200-dollar value of BTC playing the games or up to 1 BTC playing HI-LO. It’s important to keep in mind that it’s less likely to win the maximum amount offered and these big numbers are used as a way to attract users. The website says one can deposit coins with an interest rate of 4.08%. The referral program is quite generous since it guarantees the user about 50 percent of what their friends are winning on the platform, and it also shows the current price of BTC. The website has a premium version and its own token. Even though the website is famous, it resembles an online casino by design and has too many distractions.  Cointiply Founded in 2018, this faucet offers you to watch ads and videos, and play games. The website possesses loyalty and referral features, as well as expert support. Compared to the previous one, it has a more pleasant design and doesn’t resemble a gimmick. It has almost 2 million users and is available on Google Play. Given that one can claim 200 Satoshi approximately every hour, one can withdraw 35 thousand Satoshi to a built-in wallet and 100 thousand directly to your Bitcoin wallet. This website is less generous in terms of the referral program since it only offers 25% for claims and 10% for the earnings. There’s a loyalty program where under the condition that the user logs in daily, one can get up to 100% in bonuses. Once the user possesses 35 thousand coins, a 5% interest rate is guaranteed. The website also has a FAQ where one can find answers about the platform, as well as tips on how to use it more effectively.  Firefaucet What stands out for this particular platform is that it is multi-currency. If BTC is not necessarily your coin of choice, you can get Tether, Ethereum , Dogecoin , Litecoin , Dash , Tron , DigiByte , and ZCash on this website. It also has quite a minimalistic design which stands out from other ones where there are luring ads and such. It has a little bit more than 600 thousand users and the coins can be stored on the built-in wallet or your own without any fees. It claims it has the highest rates but one can’t find any exact percentage on the main page. A nice feature is that the website has no pop-up ads. Conclusion Such faucets are suitable for beginners as a good way to acquire some cryptocurrency with little effort and no financial loss. Many of them require your wallet information and have referral programs where you get bonuses for inviting people to the platform. Since possessing BTC, even as little as such websites offer, is a dream for many, we advise you to be careful and use critical thinking when visiting such places. There’s always a chance for the website to turn out to be a scam or use your personal information. If you feel hesitant about a certain website or an action it asks you to perform, do your research and read public reviews on it. Since some faucets use techniques similar to gambling, don’t forget to be responsible for how you spend your time there. It’s worth paying attention to the number of coins for each claim, how much you can withdraw and with which method, and how big the fees are. A good tactic is registering on multiple faucets, comparing them to each other, and multiplying your gains. It’s also important to keep in mind that the terms and conditions of a particular Bitcoin faucet can change over time.
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