#ChristmasMarketAnalysis Off chart perspective. In festive season, what do traders generally do? They withdraw /sell their assets to go spend on things they don't want 🫢 through out the season. What does an optimistic trader do, he buys off those dips and wait for the buying pressure and profit massively.
$BNB recall when I first bought it, at first was like is it really going anywhere? now see where it's at, a ticket to #binance launchpad /pool rewards .$SOL $TRX
That weird feeling of watching the market rally without you holding any coins in your wallet, and also having no capital to invest in the market. It's really hurting 😭 and leaves one with no hopes.
during the bear market, those who were deprived of FUD are today's mourners. I still portray peace ✌🏿.
Today viewed a summary of my presence on #binance since got to know about crypto . It's really interesting and fascinating. I didn't know how good had done, how patient have been, how magnificent my statistics were on Binance. I feel motivated to continue pursuing my goal in the crypto space.#MarketMajorComeback #BTCReclaims101K #RLUSDApprovalBoostXRP $TRX $ADA $SOL
What is the worst Crypto scenario/scum that you've fallen victim of? let us know in that comment.
Mine: Who recalls the $LUNA scenario...? Damn my worst ever 🙌🏿🙌🏿🙌🏿. On the fall from it's ATH to nothing ,97% of my portfolio was wiped off in a blink of an eye. It was so terrifying and stressful . On seeing this, first went to toilet to chop weight 😂😂🥹🥹
Jiiiizosssss ..... felt my stomach bacteria was depreciating 😢😢
019. DEX Vs CEX: These are types of cryptocurrency exchanges that differ in their structure, operation, and benefits.
DEX (Decentralized Exchange): E.g. Uniswap, Sushiswap etc Merits are: 1. Decentralized and autonomous: Operates on a blockchain, allowing for peer-to-peer transactions without intermediaries. 2. User control: Users have full control over their funds and data, reducing the risk of theft or manipulation. 3. Privacy: Transactions are often more private, as users don't need to provide personal information. 4. Security: Decentralized architecture can make it more difficult for hackers to target a single point of failure. 5. Censorship-resistant: Transactions can't be blocked or censored by a central authority.
Demerits are: 1. Complexity: Can be more difficult to use, especially for beginners. 2. Limited assets: Typically only supports trading of cryptocurrencies. 3. Liquidity: May have lower liquidity compared to CEX. 4. Scalability: Can be slower and more expensive due to blockchain congestion.
CEX (Centralized Exchange): E.g. Coinbase, Binance etc Merits are: 1. User-friendly: Often more accessible and easier to use, with a familiar interface. 2. Fiat support: Allows users to deposit and withdraw fiat currencies (e.g., USD). 3. Asset variety: Supports trading of various assets, including cryptocurrencies, tokens, and sometimes even traditional assets like stocks. 4. Liquidity: Typically has higher liquidity, making it easier to buy and sell assets. 5. Customer support: Offers dedicated customer support and dispute resolution.
Demerits are: 1. Centralized control: Users must trust the exchange with their funds and data. 2. Security risks: Centralized exchanges are more vulnerable to hacking and theft. 3. Regulatory risks: Exchanges must comply with regulations, which can lead to censorship or restrictions. 4. Fees: Often charges higher fees compared to DEX. 5. Counterparty risk: Users rely on the exchange to facilitate transactions.
When choosing between DEX and CEX, consider your priorities: - If you value decentralization, security, and control, DEX might be the better choice. - If you prefer a more user-friendly experience, access to fiat, and a wider range of assets, CEX might be the better option. $BTC $SOL $ETH Keep in mind that the landscape is constantly evolving, and some exchanges are exploring hybrid models that combine elements of both DEX and CEX.#Write2Earn! #BinanceTurns7 #MtGoxJulyRepayments #BTC☀ #MarketDownturn
018. Decentralization Vs Centralization: Refers to the distribution of power, control, and decision-making among multiple nodes or participants in a network, rather than relying on a single central authority. This concept is fundamental to blockchain technology and cryptocurrencies. Key aspects of decentralization in crypto include; 1. Network architecture: A decentralized network consists of multiple nodes, each with equal authority. 2. Consensus mechanisms: Nodes use consensus algorithms (e.g., PoW, PoS) to agree on the state of the network. 3. Open-source code: Decentralized projects often have open-source code, allowing anyone to review and contribute. 4. Decentralized governance: Decision-making is distributed among network participants, often through voting mechanisms. 5. Resilience: Decentralized networks are more resistant to censorship, single-point failures, and attacks. Benefits of decentralization: 1. Security: Increased security through distributed consensus. 2. Censorship resistance: Resistance to censorship and control. 3. Immutability: Immutable ledger ensures data integrity. 4. Transparency: Open-source code and transparent decision-making. 5. Community-driven: Decentralized governance empowers the community. Examples of decentralized crypto projects: Decentralized digital currency (for $BTC ), Decentralized smart contract platform (for $ETH ), Decentralized interoperability protocol (for $DOT ), Decentralized lending, borrowing, and trading platforms.
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Centralization refers to the concentration of power, control, and decision-making authority in a single entity, organization, or location. In the context of technology and networks, centralization means that a single central authority: 1. Controls the flow of information 2. Manages the network infrastructure 3. Makes decisions on behalf of the network 4. Store data in a single location Characteristics of centralization: 1. Single point of control 2. Hierarchical structure 3. Dependence on a central authority 4. Vulnerability to single-point failures 5. Potential for censorship and control Examples of centralization: Traditional banking systems, government institutions, corporate network, Social media platforms (e.g., Facebook, X), Cloud storage services (e.g., Google Drive, Dropbox) Centralization has both advantages (e.g., efficiency, scalability) and disadvantages (e.g., vulnerability to attacks, censorship). In contrast, decentralization distributes power and control, promoting resilience, security, and community involvement. In the context of blockchain and cryptocurrencies, centralization is often seen as a negative trait, as it can lead to: Censorship, control by a single entity, vulnerability to attacks, lack of transparency. #Write2Earn! #BinanceTurns7 #MarketDownturn #BTC #XRP
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
🔐 Pi Network to Implement 2FA for Enhanced Security
Exciting news for Pi Network users! 🚀 In the near future, Pi Network will introduce Two-Factor Authentication (2FA) to enhance security and protect your account. Here’s why 2FA is a game-changer:
1. Increased Security: By requiring a second form of verification, 2FA significantly reduces the risk of unauthorized access, safeguarding your Pi assets and personal information.
2. Protects Against Hacks: Even if your password is compromised, 2FA adds an extra layer of defense, ensuring only authorized users can access your account.
3. Peace of Mind: With 2FA, you can be confident that your Pi Network account is secure, allowing you to focus on your crypto journey without worrying about potential breaches.
Stay tuned for more updates as Pi Network rolls out this essential security feature! 🔒
Remember that 2FA is important to all your crypto exchange including #binance to add a double layer of security, and he merits re the same. Do it now and today
Official Account of @Binance Angel Program. Join a selected group of international volunteers who are passionate about Binance, and help make the difference!