Blockchain technology has the potential to revolutionize the way that businesses and organizations operate, offering increased security, transparency, and efficiency. However, one of the challenges facing the widespread adoption of blockchain is that different networks often operate in isolation, with limited ability to communicate and exchange information and assets. A bridge is a solution to this problem, allowing two separate blockchain networks to communicate and exchange information and assets. LayerZero is building the future of omnichain and advancing cross-chain communication.

How does LayerZero differentiate itself from other bridges?

Cost-effective: It’s designed to carry lightweight messages across a bevy of chains via gas-efficient, non-upgradeable smart contracts. Running smart contracts on Layer 1 can be extremely expensive. Therefore, LayerZero exports storage and fetches transaction data to Oracles and Relayers, the two off-chain entities whose relationship ensures valid transactions, allowing the Ultra Light Node endpoints to be small and cost-effective. Furthermore, its lightweight clients’ low operating costs allow for the quick incorporation of new chains.

Simplicity: User applications building with LayerZero simply need to implement two functions - send and receive. It can be written in Solidity, Rust, etc. Furthermore, two chains can interact with each other without constraint in a fully trustless manner without a middleman in the system.

New Use Cases: Due to its ground-level as a messaging protocol, omnichain liquidity can be tapped by liquidity networks, yield aggregators, lending protocols and other dApps to unlock new use cases and enable higher capital efficiency.

Trackability: Cross-chain transactions can be tracked on a single database via LayerZero Scan, which allows users and developers to pull the state, status and timing of transactions.

How does the communication flow of LayerZero work?

Here’s the core concept of LayerZero:

Source

When a user application sends a message from chain A to chain B, the message is first sent through the LayerZero endpoint on chain A (sender). The endpoint then informs the designated Oracle and Relayer of the message coupled with a transaction on the sender chain and its destination.

The Oracle then forwards the block header to the endpoint on chain B (receiver), and the Relayer submits the transaction proof.

The message will be delivered to the intended recipient if the proof is verified on the destination chain. You may be wondering how did the assets move between chains? That’s a great question! Indeed, LayerZero operates as a messaging protocol. This asset transfer was made possible through:

The use of two endpoints for the "application", one on Chain A and one on Chain B

The implementation of a DEX/app that can manage the supply of assets across endpoints, preventing shortages

Stargate Finance provides this balancing technology. Their delta algorithm ensures that cross-chain liquidity is maintained and readily available.

LayerZero Ecosystem

Stargate Finance

Stargate Finance allows the transfer of assets across different chains with minimum slippage due to unfragmented liquidity. As of April 06, 2022, they have reached $4B TVL, and they continue to scale. The recent news regarding the deployment of MetisDAO, will take advantage of LayerZero technology to leverage greater flexibility for projects to manage their funds, treasury, and yield strategies.

There are currently seven chains to transfer assets from, with the most available assets in stablecoins (USDC, BUSD, USDT). Here’s a brief rundown of how it works.

Connect

Choose the asset to transfer

Choose which chains

Approve and transfer

Wait for about 45 seconds

Ta-da

This is a significant breakthrough for blockchain applications, opening the doors for a wide range of possibilities, from unified DeFi liquidity to NFTs that can exist across multiple chains.

Pudgy Penguins

Pudgy Penguins has recently partnered with LayerZero to enable cross-chain transactions in an attempt to reach millions of Web3 users. The project has chosen to work with Polygon, BNB Smart Chain, and Arbitrum thanks to their “rapidly growing usage and exposure.” The current infrastructure is limiting the onboarding of new customers. Using LayerZero’s technology, Pudgy Penguins can communicate and operate across Ethereum, Polygon, Arbitrum, and the BNB Smart Chain.

Gh0stly Gh0sts

This is the first omnichain NFT minted on all seven blockchains compatible with LayerZero. A Gh0stly Gh0sts NFT with a red bg minted in Avax reached 1ETH within the first 24hrs of launch. The project had a good BD similar to the BinanceNFT and CoinbaseNFT partnerships. The project has been laying low since then, but as stated in their last announcement, it focuses on empowering the community. Moreover, only 4% of it is listed on Opensea (ETH).

TapiocaDAO

Simply put, TapiocaDAO allows you to borrow and lend assets across 12+ chains without worrying about defragmented liquidity or the need for bridging. $USD0 will soon be introduced as the first Omnichain stablecoin. Why is that big news?

Imagine lending your ETH in Ethereum to borrow stablecoins (USD0) in Arbitrum. This isn't possible in existing DeFi protocols, but TapiocaDAO is making it happen. The project uses Kashi, an isolated risk market lending and borrowing engine, and Yieldbox (BentoboxV2) for their smart contracts.

Rage Trade

Rage Trade is the best example that has unlocked omnichain liquidity through LayerZero by allowing users to deposit yield-generating assets (LPs in AMMs, money markets, derivatives) from LayerZero compatible chains. In Rage Trade, Arbitrum is the host chain where it holds the perp and vaults.

Other chains serve as LP chains where LP collateral is held and managed. LayerZero’s cross-chain message protocol is utilized to convey messages to/from Host Chain and LP Chain. Moreover, it uses Stargate to bridge USD PnL to/from the vaults. This allows Rage Trade to aggregate other DeFi protocols’ liquidity with vAMM to provide better liquidity depth for users.

What are some of the other potential use cases that we envision?

Technical solution backing multichain games

Multichain lending and borrowing market

Arbitrage multichain bots

Multichain liquidity for DEXs

Multichain NFTs

We will dive deeper into each of these in a separate article in the future.

Potential flaws with LayerZero

Like any new technology, LayerZero has its potential challenges. One concern is the possibility of project owners acting maliciously and stealing funds. To mitigate this risk, LayerZero relies on the user application to set the number of block confirmations that the oracle and relayer must wait for before delivering the proof.

Lately, there has been a heated discussion about a different type of system’s vulnerability.

A vulnerability known as "backdoor" exists when a trusted party has the ability to compromise the entire system. Unfortunately, this vulnerability is a part of the upgradability system and cannot be fully addressed. Many projects have implemented LayerZero. However, only ten are taking steps to address this risk by changing the default security parameters.

How often have you spent precious minutes trying to transact on Ethereum or spent a lot of gas ($) when there was too much traffic? But fear not. There is a solution to the slow transactions and high gas cost, introducing zero-knowledge proofs (ZKP).

History

The concept of ZKP is a fascinating application of cryptography that allows one party to prove to another party that a statement is true without revealing any additional information beyond the validity of the statement itself.

The first paper introducing the concept of ZKP was published in 1985 by Shafi Goldwasser and Silvio Micali of the Massachusetts Institute of Technology (MIT). Their article "Probabilistic Encryption" demonstrated that it was possible to prove specific properties of a number without revealing the number itself or any additional information about it. This groundbreaking finding paved the way for developing ZKPs as a critical tool in modern cryptography.

How it works (ELI5)

Concept: provers and verifiers

In zero-knowledge proofs, the fundamental roles are the provers and verifiers. The provers aim to convince the verifiers that they possess knowledge of a particular secret, without revealing the secret itself. The verifiers, in turn, attempt to verify the provers' claims without learning the secret. This is done by asking provers to perform tasks that can only be completed if they possess the secret. The simplest way to prove that you know something without giving it away can be shown with the often-used “Where’s Waldo?” example.

You and a friend want to find Waldo. You know where Waldo is in the image, but your friend doesn’t believe you. How do you prove to your friend that you know where Waldo is without giving away his location?

You take a massive piece of paper to cover up the entire image, showing your friend the image of Waldo through a cutout. You can prove that you know Waldo's location, yet your friend will not gain knowledge of where Waldo is since the exact coordinates of Waldo relative to the image would still be unknown to him.

This is a simple analogy of a ZKP. Anyone seeing Waldo through the hole has proof that Waldo exists, and that the prover knows where he is, without giving away any other information.

ZKPs in Blockchain

While blockchain has brought us great advantages like transparency, immutability, and decentralization, current public blockchains totally lack any privacy which would be “nice to have” at times. However, by combining ZKPs with blockchain technology, projects can now process more transactions quickly, while at the same time keeping user data safe and secure. It also allows for complex computations to be carried out without revealing any sensitive data. ZKPs provide flexibility and choice to users who want control and freedom over their information. Therefore, it makes sense that, when combined, blockchain and ZKPs have multiple uses.

Use cases of ZKPs are:

ZKP increases users' privacy by avoiding revealing personal information in public blockchains.

ZKP strengthens the security of information by replacing ineffective authentication methods. ZKP eliminates many weaknesses by allowing users to prove ownership or access to data without revealing sensitive information.

ZKP increases blockchain throughput and scalability. ZKP addresses some scalability challenges associated with blockchain technology by allowing faster and more secure transactions.

Examples of Leading ZK-based Blockchain Projects

Here are some of the most popular blockchain protocols that employ ZK technology:

Decentralized storage using zk-SNARK

Filecoin: Filecoin is the largest deployed zk-SNARK network to date. Filecoin uses SNARKs for both Proof of Replication (PoRep) and Proof of Space-time (PoSt), which are the core cryptographic protocols on which the network depends. Filecoin has raised a total of $258.2M in funding over 7 rounds. Their latest funding was a $205.8 million Initial Coin Offering. Filecoin’s token FIL is currently trading at $7 and has a market cap of $ 2.7 billion. Filecoin’s storage is live and Developers use the APIs or libraries to send data to storage helpers. Behind the scenes, storage helpers receive the data and handle the underlying processes to store it in a reliable and decentralized way.

Privacy Projects

Aztec Network: Aztec Network is the first private ZK-rollup on the Ethereum network. It is a privacy engine that DApps use to gain access to privacy and scalability. Aztec has raised $119.1M in funding over 4 rounds. Their latest funding was $100 million from a Series B round led by A16z. Aztec Connect, which allows users to interact with Ethereum DeFi Dapps, is live on the Ethereum mainnet. There is no token for Aztec, but an airdrop is possible.

Zk-rollups

The main challenge that Ethereum faces is scalability. This is a critical issue as it limits the number of people who can use the network, and it also makes transactions more expensive due to the high demand for on-chain storage and computational resources.

Rollup technology is gaining traction at a rapid pace. Rollups are smart contracts that reduce Ethereum’s computing and storage requirements for validating a transaction block. Rollups do so by rolling up a bunch of transactions into one; It is the job of the roll-up smart contract to disassemble them and verify all of those transfers held in a single transaction before it is sent as a new block to Ethereum. There are two main categories of L2 rollups – Optimistic Rollups (OP Rollups) and Zero-knowledge rollups (ZK-rollups).

Optimistic - Assumes transactions are valid by default , but would need to rollback transactions from up to 7 days ago if somebody can prove that a transaction was not valid.

ZK - runs computation off-chain and submits a validity proof to the chain. It uses advanced cryptography to prove there’s no fraud.

There are complex tradeoffs between the two flavors of rollups.

ZK-rollups can greatly increase Ethereum's transaction throughput while maintaining security and decentralization. They use two contracts, the main and verifier contracts, and an off-chain virtual machine to process batches of transactions and validate zero-knowledge proofs.

The correctness of validity proofs in zk-rollups can be guaranteed with mathematical proof with no delays in transaction finality. Therefore, ZK-rollups are seen as a potential final solution to Ethereum scaling by many.

zkSync: zkSync is a trustless scaling and privacy solution for Ethereum based on ZK Roll-up, designed to bring a VISA-scale throughput of thousands of transactions per second to Ethereum while keeping the funds as secure as in the underlying L1 accounts and maintaining a high degree of censorship-resistance. Matter Labs is the company behind zkSync. Overall, Matter Labs has raised $458 million. Their latest funding was a $200 Million Series C round led by Blockchain Capital. zkSync public testnet is currently live. There is no zkSync token, but there are numerous rumors of an airdrop coming.

Polygon has emerged as one of the most notable blockchain scaling solutions. Polygon, first known as an Ethereum Sidechain, has developed into a household scaling Solution. Polygon has raised $451.5M in funding over 8 rounds. Their latest round was a $450 million Series D round led by Sequoia Capital. Polygon's token Matic has a market cap of $11 billion and is currently trading at $1.22. Polygon has become a Swiss Army knife for fixing Ethereum’s scalability problems. Polygon’s zkEVM is a decentralized Ethereum Layer 2 scalability solution that uses cryptographic zero-knowledge proofs. It is planned to launch at the end of this March and promises to offer Ethereum compatible smart contract execution at higher speed and lower cost. Stay tuned

Web3 is rapidly evolving and creating an exciting new ecosystem of innovation. At the center of this ecosystem are Web3 hubs, which are emerging as crucial meeting places for blockchain enthusiasts, entrepreneurs, and businesses. These hubs bring together the brightest minds in the industry, accelerating innovation and propelling the industry forward.

In this article, we will explore the rise of Web3 hubs, highlight their five key benefits, and showcase Poolside Hub as a leading example.

The 5 Key Benefits of Web3 Hubs

Web3 hubs offer the key benefits below that can help startups and individuals succeed in the Web3 space.

Collaboration: The idea of a hub fosters a collaborative environment where startups and individuals can share and co-work, and developers can hack and build, accelerating innovation and development in the Web3 space.

Networking: Bring together diverse talents and entrepreneurs, providing ample opportunities for networking and forming meaningful connections.

Access to resources: Web3 builders and projects can access support services and resources, helping businesses scale and thrive in the competitive crypto market.

Exposure to investors: Increase exposure to potential investors, improving the chances of securing funding.

Economic benefits to hosting cities: Cities that host Web3 hubs have a lot to gain. They can attract significant investment, create jobs, host events, and foster innovation.

Poolside Hub: A Leading Web3 Hub

Poolside Hub is a standout example of a Web3 hub. It boasts a sprawling 12,000 sq ft physical space, complete with various types of rooms that facilitate easy collaboration among its occupants.

Poolside Hub's one-of-a-kind Accelerator Programme empowers Web3 founders to build, launch, and scale their projects, providing support at every stage. By leveraging the expertise of the Poolside team and a robust network of Web3 professionals, businesses receive comprehensive guidance on everything from tokenomics to marketing strategies. The Accelerator Programme also offers access to capital and connects businesses with an alumni network of over 110 companies.

Furthermore, Poolside Hub has already hosted successful events in the Web3 space. For example, in collaboration with Blokness, Poolside Hub hosted an NFT hackathon, which brought together some of the most talented minds in the industry to develop NFT technology-based solutions.

Web3 Splash: Poolside Opening Week

Poolside Hub's Opening Week, Web3Splash, is set to be an action-packed event taking place from April 10 to 14, catering to both experienced blockchain experts and Web3 newcomers. Attendees can look forward to informative talks, panel discussions, social events, and networking opportunities, all designed to be both educational and enjoyable.

Register for Web3 Splash

In conclusion, Web3 hubs are becoming a vital part of the Web3 ecosystem, fostering collaboration, networking, access to resources, exposure to investors, and economic benefits for hosting cities. Poolside Hub is a leading example of a Web3 hub, with its impressive infrastructure and one-of-a-kind Accelerator Programme and its upcoming program. Their door is open for all newcomers, builders, and founders at Poolside Hub. Come say hi!

So, you have finally decided to provide justice to your hard-earned money by avoiding getting rigged or you are just curious “why my favorite person keeps saying DYOR at the start and at the end of his video” If yes, then look no further my friend you have come to the right hands.

This article is a specific guide to DYOR and will help our crypto lad to do a better selection amidst the noise of “get rich quick” coin or phrase saying “this coin will make you a millionaire, yay, whoo hoo” utter nonsense.

Rule NO.1 Never believe a news to be 100 percent true on Internet.

This is one of the sincerest advice that I can give to you if you have decided to ride this crypto ship. I am not asking you to be a Sherlock Holmes on the internet instead I want you to subconsciously repeat this rule in your mind before reading any review or price prediction of a coin. Look, it is possible that this youtuber, influencer or bunch of people have already invested in that coin and are convincing other people like you to invest in it, hoping a hike in price action. Oh! by the way the term is Shilling for this kind of scam.

PRO-TIPS FOR DYOR

·       Don’t believe everything you read.

·       DYOR is a daily process.

·       Be patient & skeptical.

·       YOUR money, YOUR decision.

·       Keep your Emotions in check.

·       Your gut feelings are linked with your crypto knowledge.

 

 

Selection of the Coin

Great, you think “Togo” (imaginary) is a good coin and is worthy of your trust. (I hope it is). Can this Togo coin of yours answer the following queries?

1. What problem is Togo trying to solve? Is it a real problem? 2.What is the market capital of Togo?

3.How is it unique from its competitors?

 

5.How did this project develop and what are the plans for future development? 6.How large is the community that are willing to adopt Togo’s use-case?

7. How is the project’s marketing and social media presence?



8. What are the key features of the Togo’s blockchain?

 

9. Are there any red flags?

 

10. Which exchange can I buy Togo on?

 

This is a MUST ANSWER checklist that I use before investing in any coin and the more Qs I can answer the better.

Fasten your seat belts Peeps.

 

Now I will dive into the steps of DYOR so without further ado, lets rock and roll.

 

HOW TO DO YOUR OWN RESEARCH

1. Verify the Sources

Always double check where you are getting the news about this coin from and how credible the source is. Usually, influencers and big audience websites prove to be trust worthy as they have a lot stakes in this respect. No one wants to lose their honor right! Look for general view of that source as if it or he is providing both sides of the story and not only the good one. Articles showing both pros and cons are usually trust worthy if you get a vibe of unbiased emotions.

TAKE AWAY: Audience count of the source. Time spent in the industry. Give unbiased conclusions.

2.  Websites to visit immediately

You need to go to Coinmarketcap and Coingecko and see for that particular coin profile. In profile first look for the total market capital of the coin because

According to Metcalfe’s Law:

 

“The value of a network is proportional to the square of the number of connected users of the system (n2)”

 

So you can compare various currencies based on their market cap and square of active users or

traffic. Now peek at the total market for the industry that the coin is supposedly targeting and

 

compare it to the market cap of the coin. Next take a look at the circulating supply and look at the

amount that is in cold storage or set to be released/burned. Most cryptos are deflationary so think

about how the float schedule will change over time and how this will affect the price.

 

See the trading volume of the coin to make sure the coin is not dead for months so that you don’t get

your head stuck in it. Graph should show movements.

 

TAKE AWAY: Go to CoinMarketcap or CoinGecko website. Look for your coin. See its market capital. It should be 0.5 billion at least. Check the frequency of trading.

3. Coin Website Check

Do not stop now. Head towards coin main website and don’t get charmed by the looks of the website because making an impressive website is a piece of cake these days.

The website should clearly share information about the people behind the project. Poor websites, spelling errors and a lack of transparency around the team are all red flags of a scam-y investment or just another pump & dump scheme. Its white paper should give a useful explanation of the project.



their main goal is to highlight the coin’s purpose, utility, future prospects and underlying tech, which



all good projects go into in detail.



TAKE AWAY: Official website should show pictures of the developers and their profile links. With clear roadmap of the coin and its technology.



4. Developers Check



It’s important that the project developers should reveal their true identity to the investors to gain trust and provide useful links to their personal LinkedIn, GitHub and Twitter accounts.



Going through the profiles of developers should show their previous projects and good name. You can also ask about them from fellow developers.



5. Exploring Social Media platforms



Crypto info is extremely time delicate , and social platforms are often the best places to start, especially for learners. Try exploring their twitter, Facebook, reddit, Telegram and LinkedIn handles to absorb the general vibes of the community and feel the obvious pulse of the people. Keep in mind that you are entering bee’s nest and you wont a mine of salt in it, expect honey. Watch for the date of creation of account and also the number of people it beholds.



Good projects keep posting regular updates about the developments happening in the project to keep their lads believing and a sign of life and health. Look for the conversations to see if the team Is actively participating and reply. Also, they do AMA sessions on a periodic basis.



6. Charting and Technical Analysis



Moving forward now you need to do an analysis on how the coin is performing in general. Is the chart reacting to the news or is it just pumping just to land on its head?



TA is mainly the study of statistical trends, gathered from historical price action and volume data .TA gives an overall view to whether it will perform well in the near future or it has already given fruits. It should also help you know when you should take entry in the project and when to exit. You don’t want to enter just when the price is on its highest and see your investment halving right!



7. Look for red flags if any



1. See for the allocation of the coin quantity and make sure its major chunk is not assigned to its dev or its team members.



2. Explore its blockchain explorer so see its large amount is not revolving among 2 or 3 holders.



3. Red flag if they are promoting things like web 4.0 or talk too much of the future technology which is far head? ahead.



4. If the coin roadmap includes dilution of supply overtime.



5. If its not listed on major exchanges then give it a second thought.

With so much talk about NFTs, we're tearing down the veil and looking back to the background to talk about the most important aspects of metadata



In our recent blog posts, we've been discussing NFTs' future and the potential of NFT tokens. We're here to explore the infamous online asset, providing all the information you require to be aware of how to store NFT metadata.



What is an NFT?



For many, NFTs are essentially PNGs or JPEGs that are pictures that are pixelated and don't really have much meaning. This isn't the reality. To say, "an NFT represents an intangible token. It's a digital asset based using blockchain technology. It proves that you own an item such as an image or video or gaming product. They are intriguing because they allow you to verify the ownership of various objects through the blockchain. You can purchase and trade NFTs to exchange cryptocurrency."



For more details to the description, "non-fungible" is a reference to a unique item. What is the difference between these cryptographic assets? They all have unique identification codes as well as metadata. In terms of metadata, let's move to the next section of this article.



What exactly is ERC721 token?



ERC721 is the standard token on Ethereum on which NFTs are based, which makes them unique and, as a result, noninterchangeable.



What exactly is NFT metadata?



In simple terms, NFT metadata is the properties or details that make up the digital asset. The details that create your NFT look and sound exactly how it should. The most frequently utilized metadata include:



Name of the file

file description

History of Transaction

Any information that the creator believes is essential to include



The most common misconception that we don't know about NFT metadata is they're distinct entities and are not identical to the NFT. Metadata is kept in a distinct location, which is essential to preserve the value of the NFT.



Before getting into the storing procedure, let's explore this concept more thoroughly. What happens when you store NFT metadata? It is the fact that the asset contains a link to the metadata that exists online. What else is there? Here is the point where things start to get fascinating. Data storage can occur in the chain or away from the chain.



Metadata on-chain



This kind of metadata is incorporated into the blockchain NFT as a whole, which means that it is possible that the NFT "information" also lives on the blockchain. Storing information on the chain poses some issues that could threaten its value NFT. As you are aware that links fade and hosting platforms do not exist forever, and if something happened to the blockchain it could affect it's possible that the NFT inherent value, as well as ownership, might be affected.



Off-chain metadata



How can you ensure security for your NFT metadata by providing that it's accessible at all times? Many people utilize cloud storage or servers. While these solutions are reasonably secure, given the potential of NFT investments They aren't bulletproof solutions. They're both hackable, and subject to issues. That's where an Interplanetary File System IPFS comes into.



What exactly is an Interplanetary File System (IPFS) service?



IPFS can be described as an open peer-to-peer network that stores metadata as well as shares them in an open file system. IPFS is connected to File coin, a peer-to-peer network that stores data with built-in financial incentives to ensure that files remain safe in the long run. It's not storage for data like you're used to. In this new system, businesses do not have ownership of the user's data. Instead, individuals retain the rights to their own data.



The system lets users save and retrieve content by relying on the "fingerprint" of the content (a cryptographic hash, also known as CID) which is distributed across a number of distinct storage companies. This leads to the following question How do you find out which storage services for files are the most trustworthy?



This is the reason Filecoin can provide the foundation to implement the credibility system as well as it provides a method to communicate with various storage providers. Consider a CID as an identifier that refers to the content. Here's an example of what a CID hash appears like:



bafybeigdyrzt5sfp7udm7hu76uh7y26nf3efuylqabf3oclgtqy55fbzdi    



If the storage company is shut down or, for any reason, is unavailable, you will be able to access the metadata.



Free NFT storage



To make the experience even more amazing, IPFS launched NFT storage which is a service for free that allows users to store up to 31GB of size for each upload.



IPFS Advantages



CID files cannot be altered and can not be modified by third-party organizations.

When data is retrieved from various sources and not from a central server content retrieval is speedier and more efficient

Creators can share their work at no cost

Data loads faster because it is faster

Only one version of every resource, which makes duplicates impossible and authentication much simpler.

There isn't a single cause of failure because IPFS content is stored at multiple locations in an open, peer-to-peer network that uses a distributed hash table (DHT)



Final thoughts

NFT metadata shouldn't be a last-minute thought, but instead an essential element for every NFT initiative or financial investment. Connecting to the metadata outside of the smart contract, it is enhancing the NFT architecture, reduces the cost of computation, and also ensures that the authenticity of the asset's data is kept on the blockchain, while the asset itself is kept off-chain

The discussion on how NFTs will evolve is never more timely than now. Why is that? Everyone is trying to comprehend and navigate through the bear market, and any reliable information regarding the future direction and direction of the NFT market is gold. Today, we will look at the specific segment within the NFT ecosystem: NFT marketplaces. What exactly are they, what are they, how do they operate, and what does the future have in store? Let's investigate.



The world is in an eBay time of NFT marketplaces.



It's not difficult to comprehend the concept behind an NFT marketplace. It brings together people who want to purchase NFTs and sell NFTs. Similar to the Internet, we've come to know it is an NFT marketplace still in its early stages, similar to the early days of eBay and Craigslist.



The first-generation marketplaces were gathering demand and supply and transferring the responsibility to consumers to search and determine the items they were looking for.



What will what would an NFT marketplace 2.0 What would an NFT marketplace 2.0



If we apply the information we have about marketplaces like Amazon, What we can anticipate from the development of NFT marketplaces will be a smoother user experience. The algorithms will assist you in your search process and provide suggestions based on your preferences. Each time a user signs in for the first time, their user experience is more customized. More refined and intuitive pricing will be included in each detail it learns regarding user behavior.



Think of platforms such as Instagram, Airbnb, and Etsy. The experience you experience as soon as you access the app or go to the website is so immersive that you'll often forget that you're actually on an online marketplace. The process of discovering and buying products combines interactivity and narrative. It creates a new experience for the user.



The same is expected in NFT marketplaces. The more applications and products we can offer for NFTs, the higher the need for vertically-oriented experiences that can connect users with the relevant dots. From fashion and the metaverse land to games assets and more, the NFT marketplace will grow larger and larger and open the way for new ideas. Look at Fractal and what they're working on for blockchain gaming, and you'll see that the sky is the limit.



The marketplace will become more than a mere discovery platform for users to browse the various products. It will be a space where brands can tell their stories and begin to connect with their customers, and create a community.



The types of NFT marketplaces



Let's look at the current marketplaces and what we can anticipate witnessing soon.



Community marketplace



Projects such as Meta Angels, Wanderers, Degenerate Ape Academy, and CryptoPunks V1 have all created themselves as marketplaces.



The idea behind this strategy is to create a safe area where community members and project enthusiasts can exchange and manage the use of their NFTs in the company's network. The main benefits and benefits of this method are:



·   Fees for trading are deposited into the community/DAO wallet



·   The experience is brand-named and is more personal



·   You're part of an exclusive group of people with the same passions and interests.



·   They're safer because you're buying directly from the manufacturer, removing the middleman.



Marketplaces for cross-chains



One of the major obstacles during the initial generation of NFT marketplaces was the limitations of trading and selling assets across different chains. This is starting to change and is expected to be among the most important things that will change moving into the future. Cross-chain marketplaces will enable users to trade NFTs across blockchains, breaking the silos.



Marketplaces for games in-game



In line with the same principles and logic as community markets, In-game marketplaces appear to be a microcosm inside a game where players can trade and sell NFTs. An excellent illustration of this could be Axie Marketplace. Axie Marketplace is a highly popular venture model for future initiatives.



Are NFT marketplaces just a fluke, or are they the norm?



Numbers never lie. According to Chain-analysis reports, the NFT marketplace will increase to $41 billion by 2021. It is not anything that is going to slow down anytime shortly. NFT marketplaces will grow as they change, improve and grow. However, they will never see be shut down. They meet various criteria and are a tried-and-true system that is widely accepted and trusted.

We all have heard of the phrase bitcoin-halving along-side bitcoin mining. Oh, sorry, am I repelling you by using two core concepts in a single sentence. Let’s make it a piece of cake for you. Deal?

What’s Bitcoin:

Bitcoin is the money of the internet. Created by a person with pseudo-name Satoshi Nakamoto. The founder is never seen publicly.

Bitcoin is special because of its limited supply which is 21 million. It can not exceed this amount because it’s mentioned in its algorithm. Its concept was to be like Gold but more of a Digital Gold and was to center the problems of traditional financial sector where the fiat currency was printed as the government feels the need to.

Tip: Bitcoin’s short form is BTC

Bitcoin transactions are difficult to track and was mainly used in Dark Web for illegal activities in its initial years. Don’t get me wrong but people misused its biggest strength in a bad way, simply put.

Now Bitcoin is widely known as a hedge against inflation and as a store of value. Shewww, I had a moral duty to keep my definition of bitcoin explained in a positive emotion.



How a Block chain works?

 

Now, we shall understand how the Bitcoin algorithm works. Bitcoin is based on Block-chain technology. A unique and one of its own kind.

Whenever, a bitcoin is transferred this data (who transferred BTC to whom, when and how many) and previous transactions are stored in digital sheet of paper called ledger and then this paper is put into the vault/safe called a block. This block is put in a correct sequence according to the timing of every transaction with the help of a chain, hence, the name is used block-chain is used.

The data or transaction history stored via block chain is immutable, practically. The reason is the data is not stored in single building or a few locations as in the case of centralized companies like Google, Microsoft etc. The hackers will have to hack every node(computer) individually which can be in a NEW YORK and the next one could be in the jungles of Africa. So, you see how it is difficult. All this hacking needs to be done till 51% of total computers are hacked to approve a change and to win the majority of voting just like in parliament.

Bitcoin Mining or Proof-of-Work (POW)

In a block-chain, there are number of computers called nodes that run bitcoin algorithm to verify each and every transaction being made with bitcoin by solving complex mathematical equations(cryptography). In return, the computer which solves the equation first receives new bitcoin from the algorithm as a reward for showing proof of work and time.

Tip: Minting means Creating in Crypto world.

So, the question is where is the term BITCOIN HALVING? Let me explain.

In Bitcoin algorithm, every new block is minted after 10 minutes as the capacity of every block is limited to a specific number of transactions it can store.



Simply put, every new block is created after 10 minutes. It is mentioned in the software to reduce the reward of miners after 4 years (calculated by using 10 min reference) which means the reward that the computer gets by acting as transaction validator will be reduced to half.

 

 

In brief

·      The Bitcoin halving is an event where mining rewards are cut in half.

·      The event takes place every four years, according to pre-set rules in Bitcoin's code.

 

Ref. DECRYPT.com

 

History of Bitcoin Halving

 

The first BTC halving was done in 2012.Bitcoin Miners were receiving 50 BTC per block as reward before this halving. After this it was reduced to 25 BTC.

Ref. DECRYPT.com

 

Price effect of Bitcoin Halving on BTC

 

Now I am going to share a chart of price action of Bitcoin halving n bitcoin.

Why it effects the price of Bitcoin?

As we know the price of a rare item is much more than a common item. Compare the price of GOLD and COPPER. So, this halving creates a sense of limited supply and helps in its demand.

One thing I want you to take note of is that the price of BTC does not increase exactly after the date of Halving but has a dormant period with no price action or even a down trend for few hundred days, this can be dure to slow awareness and spread of news by media.

 

First Halving

Start Date: November 28, 2012

Halving Duration: 368 Days

Price Variation During Halving: $12.22 - $1,178 in 368 Days

Dump: After 368 days of First Halving

Dump or Bearish Trend Duration: 408 Days

Price Variation During Dump:$1,178 – $163.65 (86% Down After ATH

Then after 408 days dump, BTC keeps accumulating and consolidating before second halving. And BTC reaches $657.61 before second halving.

Second Halving

Start Date: July 9, 2016

Halving Duration: 525 Days

Price Variation During Halving: $657.61 - $19,800

Dump: After 525 days of Second Halving

Dump or Bearish Trend Duration: 365 Days

Price Variation During Dump: $19,800 - $3,180 (84% Down After ATH

Then after 365 days dump, BTC keeps consolidating before Third halving. And BTC reaches $8821 before third halving.

Third Halving

Start Date: May 11, 2020

Halving Duration: 372 Days

Price Variation During Halving: $8,821 - $64,854 Dump: After 372 days of Third Halving (May 18, 2021) Dump Duration Prediction: 386 Days

Price Variation During Dump (Its just a prediction according to the previous record, it can be true or false) : $64,854 - $9,728 (85% Down After ATH).

 

 

Prediction of Fourth Halving

Start Date: 2024 (Before May expected)



Halving Duration: 421 Days (By taking average of previous durations)



Dump: After 421 Days



Dump Duration: 386 Days



I can’t predict that how much BTC will grow during 2024 Halving and how much dump we will see after 2024 Halving.

Note: Prediction can be true or cannot be true.



Actually, when the 840,000 the block of Bitcoin will be mined then the next halving will begin in 2024.



LIVE COUNTING LINK FOR BTC HALVING:



: https://coinmarketcap.com/halving/bitcoin/?fbclid=I wAR3244AADB44mYzMz35uULbpyQyB2K2cNlcj VG2DWIn8HxmnhcbWE9JBbQY

#BTC #BullRun #bullmarket

Have you ever been scammed by a company that promised to help you invest

in cryptocurrency but instead, took your money and never delivered anything?

At least This Author has!!

If you're new to the world of crypto I’m gonna say it's pretty complicated.

Just 14 months ago, I set up my,very first, Metamask wallet and then deposited some BNB.

In contrast! Today I’m actually writing on Block-Chain and WEB 3.0 but back then, I knew absolutely nothing about how many scams there were out there.



I lost a decent amount of money probably somewhere around seven thousand dollars due to certain scams that I fell prey to.

Welcome to my blog for crypto education here I explain topics of the cryptocurrency world, using analogies, stories and examples so that you can easily chew them.

Let’s begin the drill of pouring education.



Shall We?

In this blog post! I'm going to explain some of the most common crypto scams including one that's so new you probably haven't even heard of it, yet, and of course how to avoid them.



 So let's dig into the 7 worst scams in the crypto world!!

1.                  Wide Web 3.0 Trap:

Wide web 3.0, you might encounter, is any website asking for your private keys.

Do you remember the first time you set up a crypto wallet?

You probably didn't know if you were even doing things correctly and everything was complicated.

 Well, at least it was for me!

 Scammers take advantage of this all the time. The trick is very simple they ask you for your personal information specifically for something called your private key.

Now it's sad!!! How many scammers out there take advantage of someone's lack of knowledge and then try to get you to tell them your seed phrase. By doing this,

they are getting access to all of your crypto funds!!

Some of these scammers might say things like

 “ Hey! I want to send you some crypto money, what's your key bro?”

or even something like

 “Hey! you just won 1  whole Ethereum tell us your seed phrase so we can deposit the funds into your account?”

They’ll try every trick possible to fool newbies into giving them access to their funds.

When it comes to crypto you get two keys, a private key that you should never share and a public key that is kind of like your email address this one you intentionally share many people confuse these which leads them to get scammed.  

You can learn more about both of these through my informative blogs on  asymmetric encryption which is a complicated topic that I break down so simple , your grandpa could  understand.

2.                  Bot for investment

The next scam we have is number two asking to invest for you as a trusted creator so, the second trick is something that might be used to;

 if you've looked down in the comments  sections below of some of youtube videos or if you're in any crypto discord or telegram servers  scammers will create a bot that seems official or try to personate a project ,specifically a team  member ,in hopes of scamming  you.

3.                  Doubling game



One of the most common scams is the way that they ask for a hundred dollars and then they'll turn it into two thousand dollars for you and give it back.

Once you reach out to one of these fake accounts , a scammer will send you a dm,moments later saying that they're a project team member and that they  can assist you they often change their username or their profile picture to impersonate a real  team member on discord or youtube .

4.                  for the case discord  

you can do something really simple you can  check the actual discord handle and check if it matches the information of the impersonated team  member for example mine is practical psychology 9608 and no one can copy that discord handle for  youtube

it could be something as simple as just clicking on the account and seeing that they have  zero subscribers or no videos uploaded remember no legit project team

Tokens burn forever

now another scam well at least  it's kind of a scam is that token developers will implement something that is called a burning feature they will say every time this token is traded a portion of the trade is burned forever

so  an example of this is that if you were to send 100 tokens to your friend five tokens would be burned  forever or at least sent to an account that nobody has access to this makes you believe that one day 

 there won't be very many of these tokens out there and if you buy now and then just hold the value of  your tokens should automatically increase

well let me tell you something if my dog ate something that  one day turned his poop orange that might be the entire day in his whole life where his poop was  orange but just because it's scarce and it only happened once doesn't mean it has value nobody's  gonna want my dog's orange colored poop for it to have value other people have to want that orange  poop for it to have value

keep this in mind with tokens that have a deflationary feature especially  if that's all that they offer scam number four

6.                  playing with mind



Is something that I saw a few days ago  here's the setup someone contacts you and says

something like this; ‘hey I live in china and they  just made crypto illegal so I want to get rid of my wallet so I don't get in trouble here's my seed  phrase you can donate the money or do whatever you want with it and maybe have some for yourself” 

Then after that message, they will send you a real seed phrase to an actual account with  actual money in it

The one that I saw had three thousand dollars worth of tether but here's the trick to get the tether out you must first have some Ethereum in the account to pay the gas fee so if you're kind of smart you'll think hmmm!??

I’ll just send it to my account to do that  you have to deposit like 50 Ethereum so you can transact the money out of the  account well it happens to be that the fee to transact a token is like fifty dollars while  the fee that sends Ethereum is like ten dollars so you deposit fifty dollars and then immediately the  scammer sends the money to their account profiting forty dollars when I say immediately

 I mean fast like within ten seconds they have a computer running a program that checks if there are funds in that account and then automatically sends it to their Ethereum account so there is absolutely no way for you to get the three thousand dollars out of there.

 Now the sad part of this is the  blockchain is available for everyone to see so you can look at the account on etherscan  and see that 30 people were scammed around 2800 in total and if we get enough comments below  maybe I'll explain it in more detail





 but in short, if someone gives you their seed phrase and the  wallet has money in it do not deposit money for any reason whatever money



 



you deposit in there consider gone I'm also going to say technically if they were in china and they didn't want to be connected to the account they wouldn't have to give it to someone Ethereum accounts don't work like that it's just bad logic scam!!



 



7.                  Contract bug



 



 number five is a smart contract bug so another trick that  scammers use which you may not even be aware of is a bug where people can buy a token but then  they can't sell it



 



now I know what you're thinking how is this possible? well, there are three  ways of doing this:



·   first !!



when the developers are creating the token they simply disable the  approve function in the erc20 token contract meaning decentralized exchanges cannot  get your approval for putting the token to be sold



 



·   the second way



 is to add a rebase function into the token contract so at the moment you try to sell the token you'll lose 99 of it.



·   third 



they could easily write a few lines of code that prevent the token from being sold to a dex only bought or supplied this means a lot of money coming into the project and none is going out making it perfect.



the situation for scammers to run away with all their money technically they could  make it so when you sold your token the money you would have received goes to the developers also



 



  now to sum this up I'm not saying you should learn how to read smart contract code but I will  say before making any buy over a thousand dollars you should find a friend who can be your mentor



 



8.                  fishing on the fake website



 



 number six is fishing on fake websites.



 



 the next technique is something you need to be careful of and keep an eye out for whenever you discover a new project or you browse using a new device or a  computer.



 



 some scammers will create a website that is an exact copy of a specific crypto project  that you want to invest in and they'll do it with the same user interface and the same  information on it



 the only things different from this fake website to the real one are two things ;



 



1.                 number one is the domain because scammers can't use the same domain as a real website they will  actually create a new one that is almost the same as the real one for example scammers could create  a fake whiteboard crypto website switching it from the dot com to the dot org dot net dot phi dot x  y z or any other top-level domain they could also add an s to the end like whiteboardcryptos.com or move the e whitboardcrypto.com anyways the idea here is that they change this little detail so  people don't realize they're on the wrong website



 



2.                 the second thing they change is the smart  contracts and this is the scammy part the scammers could change the code of the smart contract so  that if you were to interact with it they could get access to your funds in your wallet leading  you to lose all your money they can make this contract do anything which  is why it's really important to only connect to applications that you trust personally



 



something I do to make sure I always click on the right link is to go to trusted websites like coin gecko or  coin market cap you can also check the official project's Twitter account to find the right links  and then bookmark those links so you always use the correct one



 



9.                  fake icons



 



scam number seven is fake icons  so you know how Kickstarter projects or any crowdfunding projects get the money they show  their product that's yet to be manufactured and then people fund the project in exchange for a  great deal maybe they'll get two products for the price of one or maybe a special edition  version in crypto we have something similar and it's called an icon or initial coin offering  and it works as a way to gather a lot of money from investors so that they can start the project



 



  well fake icos is a really easy way for scammers to present a project to investors with absolutely  no intention of actually creating it and then just run away with their investors' money



 



 how it usually  works is that scammers present a nice innovative revolutionary project to the investors  they then ask for money to kick off their project and lure inexperienced investors in with  a juicy ROI like a hundred percent or a thousand percent and this leads to the  investors giving their money but then the scammers just run away with it and because many  projects in the crypto space are not regulated unfortunately the scammers pretty much get away  with it



 



 



 a good thing to do before investing in a crypto project is to look for legit white papers  a project's timeline or good tokenomics to back your investment don't just look at the great  user interface or the juicy ROI



 



 



10.           hidden whales



 



scam number eight is called hidden whales



 you know how I always say to be careful with projects with low liquidity or a low market cap?



 because  they can easily be manipulated by a whale



 



 well a whale is anyone holding a high percentage of the  tokens out there and because of this they can sell all their tokens at once causing  a crash anyways since this is kind of obvious and since scammers are aware that people will look at it before investing money into a project scammy projects have now found other ways to  hide the fact that they hold most of the token instead of having one wallet with all the money  they simply split it between multiple wallets



 



for example, if the total liquidity of a project  was half a million dollars and maybe the tea was holding fifty thousand dollars which would be  ten percent of the entire project they would then split the money into ten different wallets each  wallet holding five thousand dollars this way they make it look like a safer and legit project 



 



 now I do wanna say here you can easily check the early transactions of a project's initial tokens  but it is a lot more work required by you and



 



I've noticed that a lot of projects have started  doing this because people won't do any more work other than just look at the token holder's page on  etherscan they'll simply look at it and say that there's no single whale wallet and then they'll  invest here's a tip you can check the blockchain



 



you can spend an hour just looking  around and seeing where the early money is going



it's very easy it's very simple it just takes  some



 



but I just want you guys to be aware that  this stuff happens again the simplest way to make sure devs do not hold most of the token is  to simply look at the first transactions and where the money originally got distributed if the first  transaction is sent to a lot of multiple addresses this is not a good sign



 



11.           psychological game



 



 scam number 9 is  psychologically making you think that a smaller price is easier to be able to hit a higher  price now this one is technically not a scam but it's kind of tricky when a project launches the  tokenomics are established by the project's team developers get to answer the questions;



 



·    what is  the max supply of the token



·    what's the initial price of the token yes they can set that  and



·    who gets the early tokens



 



 all of this stuff is decided in advance



 now, something quite a few scammy projects do! is simply print a very large amount of tokens that way the price stays low  even if there's a lot of money behind the entire project between you and me owning 100 tokens at  one dollar each is the same as owning a hundred thousand tokens worth a tenth of a penny right  well in people's mind having more tokens with a low price is way more tempting psychologically  because it makes them think with a price this low it'll easily double or triple or 10x or maybe  even 100x in value along with this they also get to feel like they're owning a ton of tokens for  these investors



 



 it's cool for them to say that they own a billion tokens but in reality, going  from a tenth of a penny to a dollar is just as difficult as another token going from one dollar  to a thousand dollars



 so this trick is really about making people think their gain opportunity  is higher than it is which makes people invest more in the token so make sure you don't invest  in a project only because the price of the token is low because if you do it might be a game of  limbo and you're gonna see how low it can go



 



12.           gambling with your trust



 



the last  scam is something we saw with the latest hottest scam the squid games token these developers  capitalized on the fact that a show called squid games became very popular and they rode the hype  train using the same name so that that way they could get a lot of attention but this is not the  trick



 



 I'm wanting to talk about creating a false sense of safety they created a fake team  yeah you heard me right they created around 10 fake profiles with fake bios to make it seem like  the project had a great and solid team behind it they went so far as to add computer generated  pictures of people, in fact, people that did not even exist just to make the project seem more  legit the only thing



 



 I want to say about this one is that crypto scams are getting more and more  persuasive so you'll have to work a lot harder when deciding on a project



 



wrapping this blog up if you're wanting to invest in a project



 



there are only  things that I suggest  you do  is to go to a website called rugdock.io what this website does is analyze  projects and if there are any obvious possibilities of exploits or scams in the contract code they'll  let you know how high of a risk it is to invest in



 



one more thing I do is research the project  a ton before investing I suggest reading the white papers and the tokenomics



you know the  basics but there are a few more advanced things



 that do



 I created this cool ultimate  research pdf which is a step-by-step guide that shows you exactly how to look into a token and  technically it's only available to whiteboard crypto club members but



 I'll be sharing some ideas  from it in a future blog

till then!! Stay

Trading (exchanging cryptocurrencies, such as bitcoin, on an exchange) is a sort of activity that requires labor to generate income from the trading process. As with any other activity, trading involves the development of specific skills needed to achieve high proficiency, especially an analytical mind and attentiveness.

 

The first half of 2021 saw a phenomenal adoption of cryptocurrencies. Influential organizations like Tesla and Mastercard have taken action to embrace cryptocurrency. Although traction slowed in the second half of 2021, adoption rates remained much above the benchmark set in the previous year. In conclusion, the use of cryptocurrencies grew steadily throughout 2021.

How can you invest in cryptocurrencies without losing all of your hard-earned money? Here are some beginner-friendly crypto blunders to steer clear off as assistance.

 

Not Putting in the Effort For The Research



In any case, you will be the one to spend money on cryptocurrency purchases. You will get into serious trouble and lose a lot of money if you don't grasp the product and its worth and instead rely solely on "experts" from Youtube, Twitter, or Telegram who tell everyone when to buy and sell currencies.

 

You must rely on the judgment of others if your choice to purchase or sell a currency is based on their view. Do not act naively. Investigate the industry you work in.

 

Some people have perverse characteristics. They like to make difficult things easy.

 

You are investing with money you cannot afford to lose

 

For instance, we'll bring all your available loan funds or savings to the deposit.

Nobody is protected against mistakes and failures; even veteran traders frequently suffer substantial financial losses. With independent commerce from scratch, the accounts of newcomers who avoided the common faults at the start of the trade route can be deemed abnormal or, at the very least, unusual.

 

Trading with Emotions & Not by Book

 

Of course, it might be challenging to avoid making this error, especially if you follow cryptocurrency news on Twitter and see tweets like "To The Moon,”

 

Let there be some truth in these claims; it is physically impossible to keep up with everything at once, and, generally speaking, the most patient ones still prevail.

 

Sales at peak prices

 

Expert investors advised: "This is not the maximum; hold and do not sell." The key idea here is that you can never predict how much a specific token will increase.

 

For instance, if you purchased bitcoin for $100, you most likely felt a strong want to sell it when the price increased to $1,000. But given that Eth is trading at more than $9,000 today, you would have significantly regretted it.

 

Purchasing cheap coins

 

You cannot invest money in the currency for no reason other than price. Many beginner users are accustomed to believing that most low-quality alternative coins are just undervalued. This is because several accounts of incredible value increase already exist. However, this is untrue because not all cryptocurrencies are of the same value. Coins have different prices due to various factors like Total market capital, Circulating supply of the coin, projects it’s doing .etc etc.

“Never Judge A Coin by its Price”

Security

Perhaps the most significant error that can be made in the crypto-community right now is this. Individuals lost millions of dollars because they trusted a compromised stock exchange or a business that ceased functioning with all of their data.

 

Always put your long-term coins in cold wallets,

 

Your secret keys and passwords must be written down, printed, and stored in a secure location.

.

Only put funds in centralized exchanges which you are day-trading with.

 

FOMO

A concern of missing out. It shows up in scenarios like the early selling of an asset out of respect for losing earnings, the maximal purchase out of concern for missing something crucial, or the concern for missing a promising ICO, which leads to investment in dubious projects.

New changes in cryptocurrency arise every day, so calm yourself and allow this worry to subside.

 

 

Revenge Trade

 

Because they lack the strength to accept defeats, many users trade in retaliation. Such trades are highly harmful to your trading career since they are motivated by frustration and fear. Such traders frequently try to engage in riskier work to reduce losses. It's referred to as "revenge trading."

Spread out your cryptocurrency holdings

Too much investment in a single coin is not logical and good advice. Please do not put all of your eggs in one basket, or as they say.



Spread your money between many coins like we would with shares. There are a number of varieties, so do your research. Sade Moon and world coin are two examples.



You are not doing your research.



Do your own research. DYOR. That is a common phrase in the cryptocurrency community. And with good cause. In this sector, it can be challenging to separate the truth-tellers from the



hype-sellers, so completing your research is essential.



Final verdict



The secret to bitcoin trading is patience. There will be enough money for everyone, so don't be scared to miss any deals because the market is so large and expanding. However, keep in mind that while making money on the market is simple, keeping it is not. Avoid letting your greed overcome you. I'll repeat it: cryptocurrency will always be available and ready to take off like a rocket!

"Been a little stuffy around here lately. Thought a joke contest might be fun. I'll start it off...



How is the halving like my wife? It comes once every 4 years and takes half my money."



Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and control the creation of new units. Cryptocurrencies are decentralized, not subject to government or financial institution control. Some popular cryptocurrencies include Bitcoin, Ethereum, and Litecoin.



10 Ways to earn free money through cryptocurrencies



In this article, we will explore ten ways to earn free money through cryptocurrencies. 10 Ways to earn free money through cryptocurrencies

Free NFTs



When most people think about cryptocurrency, they think about Bitcoin. Bitcoin is the first and most well-known cryptocurrency. However, there are many other types of cryptocurrency. One such (MODIFIED)  type of cryptocurrency is called an NFT, or non-fungible token. NFTs are different from other types of cryptocurrencies because they are not interchangeable. Each NFT is unique and has an Owner wallet address + time of creation attached to it.

NFTs are often used to represent digital assets or collectibles. Because they are unique, they can use them to create digital scarcity, adding value to the asset.

 Trading: buy low, sell high 

Become successful in trading, and it is important to buy low and sell high. That is easier said than done, but if you can master this strategy, you can make a lot of money in the market. One way to buy low is to look for stocks undervalued by the market. That can be done by looking at the company's fundamentals, such as earnings, sales, and dividends. You can also use technical analysis to find stocks trading below their support levels or oversold by the market.

One way to do this is to use trend lines and indicators like the Relative Strength Index (RSI) to help you determine when a stock has reached its peak.

 Mining: earn rewards for verifying transactions

Mining is the process of verifying and committing transactions to the blockchain. Miners are rewarded with cryptocurrency for their effort. The more computing power you can bring to bear, the greater your chances of earning rewards.

Lending: lend your coins and earn interest

When most people think about lending, they think about giving money to someone in need, hoping to see that money come back with interest later. However, another way to lend doesn't involve giving away your hard-earned cash. You can lend your coins by using a service like LendingClub.

LendingClub is a company that connects borrowers and lenders through an online platform. Borrowers can get loans for various purposes, such as starting a business or consolidating debt, and lenders can earn interest on their investments.

The company has been around since 2007 and has helped over 2 million people get loans. It has also paid its investors over $11 billion in interest.

 Staking: hold coins in a wallet to earn rewards

There are a few different ways to stake coins and earn rewards. One way is to download a wallet that allows you to stake your coins. That can be done by locking your coins in for a set period, usually around eight hours. You will then receive rewards based on how many coins you have staked.

Another way to stake coins is by using an online staking pool. That allows you to pool your resources with others to increase the chances of earning rewards. You must create an account with the pool and deposit your coins. The pool will then divide the rewards among its members based on how many coins they have contributed.

Airdrops and bounties: free tokens for completing simple tasks

Airdrops and bounties are two methods of distributing free tokens to users. Airdrops are given to users who already hold a certain cryptocurrency, while bounties are given to users who complete a task, such as signing up for a new service or tweeting about a project. Both methods are used to increase awareness and participation in cryptocurrency projects.

Faucets: earn small amounts of free cryptocurrency

Faucets are a way to earn small amounts of free cryptocurrency, typically Bitcoin or Ethereum. Users can earn a fraction of a coin by completing a simple task, such as filling out a captcha form. Faucets are a great way to introduce people to cryptocurrencies and get them involved in the ecosystem.

Affiliate programs: promote products and services in exchange for commissions

Affiliate programs are a great way to promote products and services. In exchange for commissions, affiliates help to spread the word about a business by sharing links, posting on social media, or writing blog posts. Affiliate marketing can be a great way to get your feet wet in online marketing and a great source of income.

 Point systems: earn rewards for spending money with participating merchants

2) When you make a certain amount of money in crypto you want to lose as little as possible on your earning right? We already paid money on our income and we need to pay even more on the risk we took. When we lose money no one's here to reduce our taxes either. Unfair right?

3) Although it 𝐡𝐢𝐠𝐡𝐥𝐲 depends on the country were you live, there are some ways to reduce the amount of taxes you pay without breaking any laws. For some of you maybe 𝐚𝐥𝐥 of it. Some of you might try to pay nothing but that's not sustainable long term.

4) Low profits Doesn't matter where you live or what the specific laws of your country are, if you aren't making a lot there's almost no tax to be paid. Don't bother mentioning your crypto earnings in your tax report if it's very acceptable numbers.

5) You don't need to pay taxes when someone gifts you 500-1000$ either. If you aren't withdrawing money on a monthly basis from crypto or it's not a huge sumn there's absolutely no risk of an investigation either. And if there is they won't sue you either for it.

6) Having a job :

This one is pretty huge. Many people look to quit their jobs once they can fully replicate the income from their regular job. It's here where most totally get it wrong

Most countries offer less or absolutely no taxes when you do crypto on the side.

7) They look at your profile whether you are a professional trader or a non-professional one. "The good house-father profile as they literally call it" It's hard to argue and say you are an amateur if you don't have a job. It's hard to argue you are a progressional if you do.

8) No job?

They treat you like a full self-employed individual like any service you offer. This means your taxes could go as high as 50% depending on your income. Brutal right? • 2k job + 10k crypto income = 12k • 10k crypto income = 5k Full time crypto right?

9) This is an example btw but a side income will always pay less taxes. Only go full time if you really earn 𝐭𝐡𝐚𝐭 𝐦𝐮𝐜𝐡 or you already withdrawn a lot to make you last really long. Full time crypto is great but doing it to early isn't. Calculate the difference.

10) Crypto debit card

This is my personal favorite. You don't need to pay taxes on something you don't withdraw. Many people would argue this isn't legal but it is if they can't ever know. Governments have acces right to your bank.

11) If you don't submit your taxes on what you have withdrawn to your banks that's fine. But eventually they will find out and see. Crypto however is being your own bank. If you don't give them your hardware wallet no one knows what you have. That's the whole point.

12) Although some countries like mine (Belgium) have a different stance on fiat withdrawals and crypto transactions. I don't have to pay taxes on those anyway. But if you do I wouldn't really go and tell them: Hey here's my hardware wallet. I also went to bed at 9pm yesterday

13) Want options? I've been using @cryptocom for years. Binance their crypto debit cards also work. They are both partnered with visa so you can use them almost anywhere. Restaurants, groceries, vacation trips, cash withdrawals,... You name it.

14) Hodl

There's a big difference between countries as well on this one. Some countries allow you to remain completely tax free if you buy and hold an asset without ever trading it for 1 full year. Many however don't know the entire story of this.

15) Sometimes this law is only valid when you bought a crypto with fiat and never traded it. But not when you made 100 swap transactions first and held the last asset for a whole year. Keep this in mind! Countries like Portugal for example do.

16) No matter how many transactions you did, the last obtainable needs to be held for at least 1 year. Even holding stablecoins are accepted. A legal loophole. Make sure to double-check this with your local laws.

17) Relocate

If nothing else works you need to relocate. This is the last option but definitely necessary when you have no choice. No one's going to move by making 5-10k dollars on the side. But when you made life-changing amounts like millions you do.

18) In this scenario you have so much money that giving up x amount of taxes is like working for a lifetime. Your visa debit card isn't going to cut it and you have to much money to still be working. My best friend had to forcibly choose this option.

19) He had no plans to ever relocate and no dreams to live in another country either. But because He made millions and we live in a country that's heavy on the laws no legal tax evasion was going to cut it. Some things you can't pay with crypto either.

20) I pay for everything with my crypto debit card. But you can't buy a house without fiat in the bank.

21) That's it

For most of you these options will save you any amount of taxes you would normally have to pay. Laws are only laws if you strictly fall onder the category for any of those.

22) Loopholes are very common and have been widely used for decades by individuals. There's a reason why so many lawyers are specialised in the tax industry and why so many individuals pay next to none while others pay everything. Make use of it. It's legal.