What is PoS used for?

PoS (Proof of Stake) is a newer consensus algorithm that operates based on token ownership. In PoS, network participants (validators) lock or "stake" their coins as collateral for the right to add a new block to the blockchain.

The more coins a participant stakes, the higher their chance of being selected to add the block.

Key purposes and functions of PoS:

🔵 Energy efficiency: Unlike PoW, PoS does not require extensive computational resources, making it more environmentally friendly and economically viable.

🔵 Increased security: In the event of malicious actions, the validator can lose their staked coins, making attacks less likely.

🔵 Incentivizing participation: In PoS, validators receive rewards in the form of transaction fees and sometimes additional tokens, which encourages them to participate in supporting the network.

Why Phishing Links Are Dangerous

Phishing links are malicious links created by attackers with the intent to deceive users and steal their personal information, such as logins, passwords, credit card numbers, and other confidential data.

These links may appear legitimate but redirect users to fake websites where their data can be stolen.

Main threats of phishing links:

🔵 Phishing sites may request the input of personal information, such as logins, passwords, or credit card details. If the user enters this information, it falls into the hands of attackers.

🔵 Attackers can use the stolen data to access bank accounts or credit cards, which can lead to significant financial losses for the victim.

🔵 Phishing links may contain malicious software that automatically downloads onto the user's device when the link is clicked. These programs can steal data, spy on user activities, or cause other harm.

🔵 If the user enters their credentials on a phishing site, attackers can gain access to their social media accounts, email, and other online services.

🔵 Phishing attacks often use social engineering techniques, such as urgent notifications or messages about winnings, to trick the user into clicking the link and entering their data.

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Bitcoin Reserve Proposal in Pennsylvania

Pennsylvania may become the first U.S. state to establish a Bitcoin reserve.

The proposed law would allow investing 10% of state funds into Bitcoin and other crypto assets to counter inflation and strengthen financial stability.

What is a Seed Phrase?

A seed phrase is a set of random words used to recover access to a cryptocurrency wallet.

In essence, it is the key to your digital assets, allowing you to restore your wallet on any device, even if you lose access to the original device or the wallet itself.

How does a seed phrase work?

A seed phrase usually consists of 12, 18, or 24 randomly generated words. These words form a mnemonic code that allows you to recover the private keys to your wallet. The seed phrase is a crucial security element, as it grants full access to your cryptocurrencies.

Why do you need a seed phrase?

🔵 Wallet recovery: If you lose access to your wallet (for example, if your device breaks), you can restore it using the seed phrase.

🔵 Security: The seed phrase is the only way to access your cryptocurrencies if the device is lost or the wallet is deleted.

Never share your seed phrase with anyone. Anyone who knows your seed phrase can gain full access to your funds.

How to Deal with FOMO?

🔵 Stick to your strategy:
It's important to have a clear plan and stick to it, even when the market shows significant fluctuations.

🔵 Research and analysis:
Before investing, always conduct your own research and risk assessment.

🔵 Don't succumb to emotions:
Control your emotions and avoid making decisions under the pressure of fearing that you’ll miss out.

FOMO is like buying a ticket for a train that has already left, hoping you'll catch it at the next station.

What is FOMO?

Fear of Missing Out (FOMO) is the fear of missing an opportunity, often experienced by traders and investors in the cryptocurrency market.

This term describes the psychological pressure when a person sees asset prices rising and fears missing out on a profit if they don't enter the market.

How does FOMO manifest in cryptocurrency?

🔵 Impulsive buying: When the price of a cryptocurrency is rapidly increasing, people may rush to buy assets, fearing that they will continue to rise and they will miss their opportunity.

🔵 Unplanned decisions: Under the influence of FOMO, investors may ignore their initial strategies and invest in assets without proper analysis, increasing the risk of losses.

🔵 Social pressure: The influence of social media and forums, where "missed" opportunities are discussed, can push people towards rash actions.

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A crypto user mistakenly sent $25 million worth of Renzo restaked ether to the wrong address, locking the funds potentially forever. Instead of sending to their safe wallet, they accidentally transferred the funds to a safe module address, which they can't withdraw from without Renzo’s intervention. 🤷

👒 Desperate to recover the funds, the user appealed to hackers and white hats on social media, offering a $2.5 million reward for assistance. However, experts suggest that the only solution may be if Renzo upgrades its contract with a rescue feature—a step they have yet to respond to. 🧐

This incident is a stark reminder of the risks in crypto transactions, where even a small copy-paste error can lead to massive losses.

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Who is a bagholder?

A bagholder is a person who holds onto cryptocurrency despite a significant drop in its value.

Bagholders often continue to hold their coins, hoping for a price recovery, even when other investors have already sold and realized their losses.

Reasons why people become bagholders:

🔵 Some bagholders believe in the long-term success of the project and its fundamental value.

🔵 After holding onto cryptocurrency for a long time, people may develop an emotional attachment to their investments.

🔵 Admitting losses can be psychologically difficult, and bagholders may prefer to hold onto their coins in the hope of growth.

🔵 Some bagholders may not have the time or desire to actively manage their investments.

Risks for bagholders:

🔵 Holding onto cryptocurrency whose price continues to fall can lead to significant financial losses.

🔵 While bagholders keep their coins, they might miss out on other investment opportunities.

🔵 Watching the constant decline in the value of their assets can cause stress and anxiety.

Who is a no-coiner?

A no-coiner is a person who does not own any cryptocurrency. In the cryptocurrency community, this term is often used to refer to those who have not yet invested in cryptocurrencies or avoid them for various reasons, such as:

🔵 Lack of trust: Lack of faith in cryptocurrencies as a reliable store of value.

🔵 Lack of knowledge: Lack of understanding of the technologies and mechanisms behind cryptocurrencies.

🔵 Risk: Concerns about the high volatility and risks associated with investing in cryptocurrencies.

🔵 Interest: Lack of interest in digital currencies and investing in them.

The term is sometimes used in a humorous or ironic context, especially among those who are actively involved in cryptocurrencies.

What is Instamine?

Instamine is the process where a significant amount of cryptocurrency is mined in the first days or even hours after the launch of a new cryptocurrency network.

This term often has a negative connotation and is associated with the uneven distribution of coins among early participants, which can lead to market manipulation and reduced trust in the project.

Key Characteristics:

🔵 A significant amount of cryptocurrency is mined in the first hours or days after the network launch, often before most users know about the launch.

🔵 A large portion of the coins ends up with a limited number of participants, which can lead to price manipulation and concentration of power.

🔵 The community may perceive instamine as a scam, leading to criticism and difficulties in project adoption.

Prevention Methods:

🔵 Announce the exact launch time of the network and provide equal access for all participants.

🔵 Implement mechanisms that ensure an even distribution of coins among participants in the early stages.

🔵 Provide advance notice to the community about the planned network launch so that everyone can prepare.

DCA Strategy: Optimal investment in crypto

Today's topic is the dollar-cost averaging (DCA) strategy. You will learn about its pros and cons, as well as where and how to use it.

DCA is a strategy in which an investor regularly invests in an asset, regardless of its price.

This helps reduce the impact of volatility on the overall outcome.

Advantages of DCA:

– Minimal impact of market fluctuations on your portfolio.
– Consistent investment without the need to time the market.

Risks of DCA:

– No guarantee of 100% profit.
– Losses are possible.

How to DCA on a CEX

Centralized exchanges (Binance, Bybit, and OKX) have convenient tools for automating the DCA strategy.

– Find the "Auto-Invest" feature on the exchange.
– Choose the asset and set the amount for regular purchases.
– Define the investment interval.

The advantages include easy setup and support for a large number of cryptocurrencies. However, KYC requirements and exchange fees may deter some users.

How to DCA on a DEX

Some decentralized exchanges, such as DeFi Saver on the Ethereum network, support this strategy.

– Connect your wallet to the DEX.
– Choose investment parameters (asset, amount, frequency).

In this case, you will have full control over your assets. It's anonymous, and KYC is not required. However, liquidity issues may arise with large purchases.

In conclusion

DCA is a good strategy if you want to invest regularly with minimal risks and volatility.

What is a DEX? Differences between DEXs and CEXs

Today, we will delve into one of the key topics in Web3 and determine which trading platforms are better to use.

DEX (decentralized exchange) – platforms for cryptocurrency exchange that operate on blockchains and do not require the involvement of a third party to conduct transactions.

CEXs (centralized exchanges) were discussed in this post

Examples of DEXs:

– STON.fi, DeDust (on the TON blockchain)
– Uniswap, SushiSwap (on Ethereum, BSC, and others)

Differences between DEXs and CEXs:

1. Centralization vs. decentralization
– CEX: Controlled by a single organization that oversees all operations and holds users’ funds.
– DEX: Operates based on smart contracts that automatically execute operations without intermediaries.

2. Privacy and anonymity
– CEX: Require Know Your Customer (KYC) procedures (identity verification).
– DEX: Typically, does not require KYC, allowing for anonymity.

3. Asset control
– CEX: Users entrust their funds to the exchange, which is risky. There have been cases of hacks and bankruptcies—e.g., the former major exchange FTX.
– DEX: Users hold funds in their own wallets, trade directly, and maintain full control.

4. Fees and speed
– CEX: Lower fees and high transaction speeds due to centralized infrastructure.
– DEX: Fees are usually higher (depending on the blockchain); transaction speed depends on network capacity.

5. Tokens
– CEX: Strict listing procedures limit the tokens available for trading.
– DEX: Ability to trade any tokens available on the blockchain.

Conclusions

DEXs provide more freedom and asset control, reducing the risks associated with centralized structures; however, they have their drawbacks: high fees and sometimes slower transaction speeds.

It all depends on your needs and preferences. We recommend combining DEX and CEX platforms.

Crypto Fear & Greed Index

When should you sell and buy crypto? Today, we’ll examine this question through the lens of the Crypto Fear & Greed Index.

The Fear & Greed Index analyzes the sentiment in the cryptocurrency market. The value ranges from 0 to 100 and is based on coin volatility, trends, trading volume, and search queries.

The indicator was created for the stock market but is actively used for cryptocurrencies as well.

How does it work?

– 0-24: Extreme Fear
– 25-49: Fear
– 50-74: Greed
– 75-100: Extreme Greed

Why is this important?

– Understanding sentiments helps predict market behavior.
– When the index shows "fear", it's a good time to buy, but if it shows "greed", it's a good time to sell.
– The indicator helps identify periods when the market is oversold or overbought.

Examples of use:

– Buying in a period of "fear". By early September 2023, the index started moving into the zone of "extreme fear". Further, more buyers entered the market, and BTC gradually rose from $25,000 to $73,000 at its peak.

– Buying in a period of "greed". Over the last month, the index remained in the "greed" zone, indicating a possible correction. As a result, BTC dropped to $59,000.

In any case, one should not rely solely on Crypto Fear & Greed. To make informed decisions, it's important to combine the index with other tools.

What is an IDO?

Raising capital in the crypto industry is an important mechanism for the development of any project. What is the essence of an initial decentralized exchange offering (IDO)? Let’s break it down.

IDO – the process of initially offering tokens before they are listed on exchanges. In simple terms, it’s an opportunity for projects to raise funding directly from users.

The methodology is similar to initial public offerings (IPOs) in the stock market.

· IDOs allow projects to quickly launch into the market and raise funds for further development.

· Users can buy tokens at a low price and become early investors.

How it works:

1. A project announces its IDO and offers a certain number of tokens at a fixed price.

2. Depending on the platform, users fulfill specific conditions and participate. This could involve token staking or completing social tasks.

3. Distribution occurs after the token is listed on exchanges, according to the vesting schedule (token distribution plan among participants).

To participate in IDOs, you need to have a wallet and a certain amount of assets. Other conditions depend on the platform.

🧐 Earning in Web3: Investing

One of the simplest earning strategies is long-term investments. Who is this method suitable for? Find out in the article.

Hodling – Buying and holding cryptocurrency until it grows, ignoring short-term price fluctuations. This method is suitable for beginners and those who are investing for the long-term.

Required knowledge level: A basic understanding of cryptocurrencies and market structure is sufficient.

Risk level: With proper portfolio formation and asset selection, the risk is considered low.

Benefits: No need for constant market monitoring.

Disadvantages: Waiting for investment growth can take a long time.

Time and involvement: Minimal participation.

Expected profitability: Depends on choosing the right project and entry point.

The simplest example is Bitcoin (BTC). Buying at the beginning of 2023 would have yielded a 316% return today.

It is important to understand that not all cryptocurrencies are profitable.

You can start investing in major coins such as BTC, ETH, and TON. Experience and immersion in the market will help you find and identify promising coins at an early stage.