Holidays are coming: feel the spirit with the crypto advent calendar by SwapSpace

What is an IDO? IDO or Initial DEX offering is a way of amassing financing, a relatively new fundraising model that follows the success of the DeFi. IDO is the initial offer of coins on decentralized exchanges (DEX). This is an alternative to ICOs and IEOs, but fundraising takes place through liquidity pools. Unlike ICO and IEO, where investors first buy coins of the project, and then it is listed on the exchange, in IDO, the initial sale of coins and their listing occur almost simultaneously. The main difference between these models of fundraising is that in IDO, projects do not need to pass verification by the crypto exchange. It’s worth learning how IDOs work and what the advantages, disadvantages, and prospects for the future are, which we will cover in this article.  How it works Funds are raised using smart contracts of liquidity pools that work as automated market makers. They allow traders to exchange assets directly from the pool, without waiting for buyers or sellers. The specific exchange price is set by a complex pricing algorithm called Bonding Curves. It is based on the ratio of assets in the pool: when coins are bought, their price increases, and when they are sold, it falls. The price balance is maintained at the expense of traders. They "freeze" their assets in the pool, providing liquidity, receiving remuneration for this. At the same time, the asset price in the pool may differ from the prices on centralized exchanges. Formally, any DEX user can conduct an IDO so the sites select projects which end up on launchpad platforms. When launching an IDO, developers need to follow multiple steps: One needs to determine the options for using the token and the system for distributing it to users.  Next, you need to set the token issue and the number of coins for IDO.  Then you turn to the auditors who will analyze the smart contract.  To participate in most IDOs, participants need to register in advance and enroll in the white list via social media or a website. More important websites to keep in mind when dealing with IDOs are Coinspaid, Coinlist, and Uniswap. High fees on the Ethereum network have led to projects choosing other blockchains to conduct IDOs. For example, such as Binance Smart Chain or Polkastarter. The Solana platform also introduced its own launcher. Other options are Chainlink and Thorchain. Examples of IDOs The first-ever IDO is known to have happened in June 2019 on Binance DEX by Raven developers. The most profitable IDO at the moment is Flow from the Dapper Labs project. There has been growing public interest in IDOs ever since.  Among other major IDOs, there are Compound, bZx Protocol, mStable, SushiSwap, Shift, and ExeedMe. The coins of these projects have grown tenfold after the tokensale. Advantages and disadvantages of IDOs + IDO’s advantages include immediate token liquidity, instant start of trading and lower costs for conducting it. IDOs are also suitable for new small projects and start-ups. It is decentralized and has no high fees. IDO can be used not only by companies from the DeFi sector, but also by centralized ones. Due to lower costs than ICO and IEO, the new method of attracting funding is suitable for small crypto projects. In case the IDO token is a governance token, it gives its holders the right to vote and control the direction of development of the basic protocol. If it is a native token on a DEX exchange, for example, users can also get discounts on making transactions on the platform. - Even though projects issue tokens that are already backed by DEX liquidity pools and the tokens are guaranteed to be on the crypto market without the need to wait for listings, this doesn't necessarily mean that the token will be successful. Before taking part in any IDO, one needs to study the project and be prepared for all the risks since sometimes participating in IDOs can cause serious losses. The trading volumes of decentralized crypto exchanges are actively growing, but they are still significantly inferior to classical platforms. At the same time, DEX is more difficult to use, which makes them accessible to a limited number of technologically advanced users. Conclusion Overall, IDO is a new way of attracting financing to cryptocurrency projects that focuses on transparency and being easy to use. They majorly depend on DeFi and its success. In comparison with ICO and IEO, IDO projects do not have to pay hefty sums for listing on the stock exchange and conduct lengthy discussions with regulators in different countries. Some claim that IDO is the optimal option for entering the DeFi space and gaining trust of the DeFi market participants. This can be illustrated by already existing examples like Compound, bZx Protocol, mStable, SushiSwap, Shift, and ExeedMe. Undoubtedly, IDO should go down in the history of the crypto economy and will launch new opportunities in the DeFi sector.

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.

What is 1inch 1inch is the native token on an eponymous aggregator for decentralized marketplaces. 1inch exchange allows its users to track multiple exchanges from a single platform. The protocol collects liquidity from DEXs, using smart contract technology for this purpose, splitting one transaction between several exchanges, which gives users the opportunity to optimize their transactions and get the best possible rates. How it works The 1inch ERC-20 token is a control and utility token on the platform. It is used to control all 1inch network protocols through various modules, as well as a voting mechanism. It possesses the Instant Governance structure where the token holders and key protocol stakeholders can directly vote on protocol and configuration parameters. One of the key features of instant control is that bidders can continuously and dynamically vote to change protocol settings without waiting for bids to be submitted or completed. Each 1inch token holder can stake their tokens, as well as participate in the management of liquidity pools. The weight of each user's vote is in direct correlation with the number of tokens supplied.Advantages and disadvantages of 1inch + The 1inch token takes the management capabilities of the DeFi space to the next level. It enables the most efficient and transparent way to vote on certain protocol settings. With such a model, the voice of each user matters. Moreover, the token currently holds a position towards the end of the top-100 currencies. It has had valuable investors from its inception like Binance Labs, Galaxy Digital, Greenfield One, Libertus Capital, Dragonfly Capital, FTX, IOSG, LAUNCHub Ventures и Divergence Ventures. The project is also receiving much approval from Binance CEO Changpeng Zhao, who believes these are the protocols that are fueling the rise of DeFi. These factors indicate that there has always been interest towards the platform and its native token in the crypto circles. The technology was also tested by independent audit companies. - Despite the token’s success in 2020, the developers themselves have said it’s not an investment tool but rather a tool to use on the native platform or be implemented by third parties. This is further proven by the fact that, according to CoinMarketCap, no one stores 1inch for over a year, so the functions and value of the token are limited to the native ecosystem it belongs to. This poses a risk for the token since it’s in close correlation with the success of the eponymous platform. 98 percent of the token is also concentrated in the hands of large holders. Where to buy 1inch During the inception of the token, users could acquire it if they adhered to certain criteria, as well as with the help of liquidity mining. Currently, 1inch is traded on most popular exchanges like Binance , KuCoin , FTX , Coinone , Huobi Global , OKEx , Uniswap , and CoinTiger . The trading usually happens in pairs with BTC, USDT, ETH, WETH, USDC, and such.How to exchange 1inch on SwapSpace? On  SwapSpace homepage , select 1inch in “You send” section and the cryptocurrency you would like to receive in “You get” section. Enter the amount of 1inch 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 1inch coins to the address you will see on the screen. Wait until the exchange is complete. Where to store 1inch Since 1inch has the ERC-20 standard, it can be stored on any suitable wallet like Trust Wallet , Atomic Wallet , MyEtherWallet , Exodus , Coinomi , imToken , MetaMask , and Ledger . The platform itself also supports any Ethereum-based wallets which are securely integrated into the platform, namely 0x Relay, Uniswap, Oasis, and Kyber Network.

Despite the fact that Bitcoin has been around for over eleven years and has gained numerous supporters over the course of its existence, there are still multiple misconceptions associated with it, further endorsed even by notorious financial institutions like Golden Sachs. They are based on faulty analysis, irrelevant arguments, and outdatedinformation. The ultimate goal of understanding Bitcoin can be achieved by providing every one of such questionable statements with facts and explanations. Myth #1: Bitcoin’s volatility obstructs it to be a trustworthy financial asset In reality: It actually proves the credibility of its monetary policy People criticize Bitcoin for its fluctuations in price and see this as an obstacle to being stable or a favorable unit for storing and investing. There’s a microeconomic politics trilemma called The Impossible Trinity which explains why it can’t be any other way. Simplified, you can only have two of the three factors in a monetary unit: fixed exchange rate, independent monetary policy, and free capital movement. Any one of these factors would contradict the other two. For Bitcoin, the odd one is the fixed exchange rate. Fiat money follows the principle as well and Bitcoin’s volatility is nothing but the logical outcome based on this trilemma. Moreover, Bitcoin’s volatility declines over time. The more it is adapted, the less the fluctuations in price will be in their amplitude. Bitcoin’s purchasing power, as a result, has also shown growth despite all the volatility. Its price has been increasing by roughly 200 percent every year since 2011 despite the fluctuations within the year itself. Since 2014 it has also shown growth as demonstrated by the lowest price each year. Myth #2: Bitcoin is an isolated form of payment that is used by a small number of people In reality: Bitcoin has full potential to become the payment instrument of the future People question Bitcoin’s capabilities of being a proper investment active that won’t disappear and lose its worth one day. Another argument is that it doesn’t hold any value in it. Contrary to these arguments, Bitcoin possesses positive characteristics which can make it the equivalent of gold but in the digital world. It is transparent, divisible, safe to use, and verifiable. Experts expect continuous growing demand for Bitcoin. Currently, its market capitalization is 2 percent of that of gold.  Myth #3: Continuous forks and copies will eventually lead Bitcoin to lose its value In reality: Bitcoin’s value can’t be duplicated by software alone Bitcoin’s software is free and open-code and technically, anyone could copy it, just like users can make copies of digital files. However, this won’t necessarily increase the number of Bitcoins themselves in circulation and the new networks still comply with the same sets of rules and principles. Instead, it stimulates the market and gives the opportunity to create new projects and coins. Bitcoin still stays deficit and the number of new coins created doesn't equal in value to the original Bitcoins. It was proven that forks still couldn’t influence Bitcoin’s number of active users, hashpower, and liquidity. Myth #4: Bitcoin is mainly used for performing criminal and illegal operations In reality: It is against any form of censorship Everything that people don’t completely understand they generally label as bad or dangerous. This is the case with Bitcoin which is criticized for financing criminal and illegal operations. At its inception, it was accused of hosting a black market platform. In reality, Bitcoin is negative towards any case of censorship and puts this principle among its core values. The platform itself is as helpful to criminals as any asset in the real world, be it the Internet or mobile phones. The percentage of Bitcoin operations connected to illegal activity is actually less than 1 percent, so it is surely not used exclusively to fund crimes. Moreover, most illicit activity still happens with fiat as demonstrated by both absolute and relative terms. Myth #5: Bitcoin is a waste of energy In reality: It uses more resources than gold or banks but for the sake of safer transactions The hefty sums of money accumulated as a result of mining Bitcoin are posed as a guarantee that the transaction was made. Bitcoin’s supporters see this as its fundamental difference of the cryptocurrency from other forms of using energy. They claim that there’s a balance between the calculations made and the safety of the transaction. While Bitcoin spends more in one place, it uses less in other aspects. The estimated dollar cost of Bitcoin mining per GJ spent is 40 times more efficient than traditional banking, and 10 times more efficient than gold mining. It also uses renewable energy and has the intention to solve the problem of regions that have unused power.  Conclusion While Bitcoin is relatively complicated and new, it shouldn’t discourage its critics from doing proper research based on facts and logic rather than indulging in urban legends about it. There should be a constructive debate between its supporters and protestors. So far, Bitcoin has proven to be a good candidate for the role of the digital money of the future, to use power effectively, to have credible monetary policy, to be censorship-resistant, and independent of fork and copies.