Tarike

Jupiter, a Solana-based decentralized exchange (DEX), announced the launch of a unique airdrop called $WEN – based on a fractionalized non-fungible token (NFT) of a poem. The airdrop will commence on January 26 at 10 am EST.

The poem “A Love Letter to Wen Bros,” written by Meow (the founder of Jupiter), has been split into a trillion pieces using technology from Ovols. These pieces, called $WEN tokens, will trade like regular Solana tokens, each representing proportional ownership in the poem. This first-of-its-kind initiative aims to push the boundaries of memecoins.

How to Qualify for $WEN Token Airdrop by Jupiter

Ensuring a fair distribution, Jupiter will distribute 70% of the $WEN tokens equally to over a million active Solana wallets, including Jupiter users from the past six months, top NFT collection holders, Ovols holders, and Genesis Saga holders.

According to the official WEN allocation website, users must have traded at least $5 on Jupiter over the past six months before January 19, 2024, to be eligible.

Immortalizing WEN Culture

I’m delighted today to introduce WEN, which I shall unveil over 5 parts:

1. The Poem2. The NFT3. The NFT Standard4. The First Culture Token In Crypto5. The First LFG Launchpad Project

It’s a doozy, so let us walk through it how it all unfolded… pic.twitter.com/bOgLABL3Mq

— meow (@weremeow) January 25, 2024

“This means it will be extremely distributed from day one, with a tight guarantee that no one person can have a large supply unless he whales it out or manages to super heavily bot it out a very large initial supply (unlikely due to mechanisms, but we will see),” Meow tweeted.

Furthermore, 20% of the remainder will be allocated to the newly launched Decentralized Liquidity Mining Market (DLMM) pool, while the remaining 10% will go to the $WEN treasury.

According to Meow, the treasury’s share will be used for various purposes like liquidity provision, promoting the $WEN culture, and developing the WNS ecosystem. “1% from the treasury will, in turn, be provided to LFG Launchpad, 0.75% will go to the future Jupiter DAO, and 0.25% to the team,” he added.

Jupiter will be testing out its newly launched LFG launchpad as part of the distribution process. The launchpad is currently in its beta phase. 

Solana Airdrop Season 

Meanwhile, the latest development comes ahead of Jupiter’s upcoming airdrop of its own JUP tokens. Last November, the DEX announced it would be airdropping up to one billion units of JUP to nearly one million eligible wallets. JUP is Jupiter’s governance token with an initial supply of 10 billion units and is set to go live on January 31.

The post Solana DEX Jupiter Announces $WEN Airdrop for Over A Million Users appeared first on Coinfomania.

Key Takeaways

Using an RSA key pair when trading via the Binance API makes your requests significantly harder to forge compared to simpler HMAC-based signing.

Whitelisting IP addresses on your API keys means that any access attempt from an unrecognized IP is automatically blocked.

Setting up an anti-phishing code lets you instantly verify whether an email or SMS claiming to be from Binance is legitimate.

Enabling two-factor authentication (2FA) via an authenticator app or hardware security key protects your account even if your password is compromised.

Combining withdrawal address whitelisting with a strong, unique password and a reliable password manager adds further layers of protection.

Introduction

As digital assets have grown in value and adoption, they have also attracted more sophisticated security threats. Protecting a Binance account requires more than just a strong password. The platform provides a range of built-in security tools that, when used together, substantially reduce your exposure to unauthorized access, API exploits, and phishing attacks.

This article walks through five specific measures you can take to improve your Binance account security, from API authentication to email verification.

5 Security Measures to Keep Your Binance Account Safe

1. Use an RSA Key Pair for API Trading

If you use the Binance API to trade programmatically, choosing the right signing method is an important security decision. An RSA (Rivest-Shamir-Adleman) key pair consists of two mathematically linked keys: a public key and a private key. You register the public key with Binance, and your system uses the private key to sign each API request. Binance then verifies the signature using your public key. Because only the holder of the private key can produce a valid signature, this method is highly resistant to forgery. For a detailed walkthrough of how this works, see RSA Signatures Explained.

RSA is considered more secure for API signing than HMAC-based authentication, where the same secret key is used for both signing and verification. With RSA, your private key never needs to leave your system. For a broader overview of API key types and their security implications, see API keys and security types.

You can generate an RSA key pair and register it through the API management section of your Binance account settings.

2. Set Up IP Access Restrictions

Whitelisting IP addresses on your API keys restricts access so that only requests originating from approved IP addresses are accepted. Any API call from an IP address not on your whitelist is automatically blocked, regardless of whether the request is signed correctly.

This is a particularly valuable control for automated trading setups where your API key runs from a fixed server or a known set of machines. Even if your API key credentials were somehow exposed, an attacker operating from a different IP address wouldn't be able to use them.

You can configure IP access restrictions through the API management settings in your Binance account. It's worth applying IP whitelisting to all API keys you create, not just those with withdrawal permissions.

3. Set Up an Anti-Phishing Code

Phishing attacks targeting Binance users often involve fraudulent emails or SMS messages that closely mimic official communications, sometimes including your name and account details. The anti-phishing code is a feature that helps you distinguish real Binance messages from fakes. For background on how phishing attacks work in general, the Academy has a dedicated explainer.

Once enabled, every official email and SMS from Binance will include the unique code you set. If a message doesn't contain your code, or contains a different code, you can treat it as fraudulent regardless of how convincing it looks.

How to set it up

Log in to your Binance account and go to Security settings.

Select Anti-Phishing Code.

Create a unique code using a mix of letters and numbers. Avoid anything obvious like your name, birthdate, or simple sequences.

Confirm with your 2FA method.

The code appears immediately in all subsequent official communications from Binance. If you suspect your code has been exposed, you can update it at any time through the same settings page.

4. Enable Strong Two-Factor Authentication

Two-factor authentication adds a required second step beyond your password when logging in or approving sensitive actions. Even if an attacker obtains your password, they still need your second factor to proceed. Not all 2FA methods offer the same level of protection.

Authenticator app (recommended)

An authenticator app such as Google Authenticator or the Binance Authenticator generates time-based, one-time codes directly on your device without going through your mobile carrier. This makes them immune to SIM-swapping attacks, where scammers convince a carrier to transfer your phone number to a SIM they control, gaining access to your SMS codes. Authenticator apps are the recommended minimum standard for Binance accounts.

SMS-based 2FA

SMS codes are better than no 2FA, but they carry SIM-swap risk. If you're currently using SMS-based 2FA, switching to an authenticator app is a straightforward upgrade worth making.

Hardware security key (YubiKey)

A hardware security key such as a YubiKey is a physical device that must be present to authenticate a login. It plugs into your device via USB or connects via NFC. Because it can't be intercepted remotely, it's one of the most effective 2FA methods available. Even if an attacker has your username, password, and phone number, they still can't log in without physical access to the key. For more guidance on physical security devices, see Ten Tips for Using a Hardware Wallet Securely, which covers related principles for hardware-based protection.

5. Use Withdrawal Whitelisting and a Strong Password

Withdrawal address whitelisting

Withdrawal address whitelisting lets you specify which wallet addresses are permitted to receive funds from your Binance account. Any withdrawal request to an address not on your whitelist is automatically blocked. This means that even in a worst-case scenario where an attacker gains access to your account, they can't send your funds to an address they control if it isn't already whitelisted.

When you add a new address to your whitelist, Binance imposes a 24 to 48 hour waiting period before that address becomes active. This delay gives you time to catch and cancel an unauthorized change before any funds can be moved.

Password hygiene

Use a unique password: Your Binance password should not be used on any other service. Reusing passwords means a breach on one platform can compromise all others where you use the same credentials.

Make it complex: Combine uppercase and lowercase letters, numbers, and special characters. Aim for at least 12 characters.

Use a password manager: A reputable password manager generates and stores strong, unique passwords so you don't have to remember them. It also makes it easy to use a different password everywhere.

Don't share it: No legitimate Binance support representative will ever ask for your password. Treat any request for it as a red flag.

Change it when compromised: Current security guidance recommends changing your password when you have reason to believe it may have been exposed, rather than on a fixed schedule. Routine, predictable changes (such as monthly rotations) often lead to minor incremental modifications that offer little real security benefit.

FAQ

What is the difference between RSA and HMAC for Binance API keys?

Both RSA and HMAC are methods for signing API requests to prove they came from you. With HMAC, the same secret key is used to sign and verify — meaning you need to share it in a form that Binance can verify. With RSA, you keep the private key entirely to yourself and only share the public key with Binance. RSA is generally considered more secure because your signing key never has to leave your own systems.

Where can I find the IP whitelist setting in my Binance account?

IP whitelisting for API keys is found under API Management in your Binance account settings. You can add approved IP addresses when creating or editing an API key. Note that this applies per API key, so it's worth setting it on every key you use, not just high-permission ones.

Does the anti-phishing code appear in every message from Binance?

Once enabled, your anti-phishing code should appear in all official emails and SMS messages from Binance. If you receive a message that claims to be from Binance but doesn't include your code, or includes the wrong code, treat it as a phishing attempt and don't click any links or provide any information.

Is a YubiKey better than an authenticator app for Binance 2FA?

A hardware security key like a YubiKey is generally considered more secure than an authenticator app because it requires physical presence and can't be intercepted remotely. However, authenticator apps are a major improvement over SMS-based 2FA and are a practical, widely available option. The best choice depends on your threat model and how you access your account. Both are significantly better than SMS-based 2FA.

What happens if I try to withdraw to an address not on my whitelist?

The withdrawal will be automatically blocked. To send funds to a new address, you'll need to add it to your whitelist first, which triggers a 24 to 48 hour security delay before the address becomes active. This delay is intentional: it gives you time to review and cancel the change if it wasn't made by you.

Closing Thoughts

The five measures covered here, RSA API signing, IP access restrictions, the anti-phishing code, strong 2FA, and withdrawal whitelisting with a solid password practice, work best when used together. Each one closes a different attack vector: API credential theft, unauthorized remote access, phishing, account takeover, and unauthorized withdrawals. For a broader foundation of digital security habits, see General Security Principles.

As threats evolve, it's worth revisiting your security settings periodically to make sure everything is still configured as intended and that you haven't left any older, weaker settings in place.

Further Reading

What Is Two-Factor Authentication (2FA)?

RSA Signatures Explained: How to Secure Binance API Communications

Ten Tips for Using a Hardware Wallet Securely

What Is Phishing and How Does It Work?

General Security Principles

Disclaimer: This content is presented to you on an "as is" basis for general information and or educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the content is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. For more information, see our Terms of Use, Risk Warning and Binance Academy Terms.

According to Foresight News, data from Coinglass reveals that the Grayscale Bitcoin Trust (GBTC) discount rate has narrowed to 5.51%, while the Ethereum Trust (ETH) discount rate stands at 13.23%. In addition, the Grayscale Solana Trust (SOL) has a premium rate of 312.99%, and the Chainlink Trust (LINK) has a premium rate of 301.88%.

The narrowing discount rates for GBTC and ETH trusts indicate a potential increase in demand for these digital assets. On the other hand, the high premium rates for SOL and LINK trusts suggest that investors are willing to pay a significant premium to gain exposure to these cryptocurrencies through Grayscale's investment products.

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The post Solana Price Set to Reach $1000 During the Bull Run, Bitgert Price Expected to Reach at $0.0001  appeared first on Coinpedia Fintech News

Solana has been blazing a trail in the crypto sphere this month, sporting a surge of over 80% this month, winning a hefty market cap of over $25 billion. Solana’s value has skyrocketed by over 10% since yesterday. Solana’s growth and popularity can be attributed to its groundbreaking tech and robust network effects. Solana aims to revolutionize dApps, smart contracts, and DeFi with its scalable, secure, and decentralized platform. With impressive stats like a throughput of over 50,000 transactions per second, a minuscule latency of 400 milliseconds, and a transaction cost as low as $0.00025, Solana is turning heads.

Similar to Solana’s fundamentally strong offering, Bitgert is another name that’s turning heads in the crypto space for its recent developments and engagements. Bitgert, a relative newcomer launched in July 2021, has also had an impressive month. Bitgert strives to be a swift, economical, and secure global value transfer solution. It boasts Bitgert Rise, a unique feature driving its value. Each transaction triggers a price increase by burning a percentage of the transaction fee and redistributing another percentage to holders, fostering a deflationary and rewarding system.

Some experts foresee Solana hitting the $1000 mark during the bullish spree, marking a tenfold surge from its current $60 price tag. This bullish prediction banks on Solana’s robust fundamentals, burgeoning adoption, and surging network demand, buoyed by partnerships across gaming, NFTs, DeFi, and Web3 sectors.

Bitgert, on the other hand, anticipates reaching $0.0001 during the bull run, a massive leap from its current value of approximately $0.00000016. This surge hinges on Bitgert Rise’s innovative mechanism, creating a positive loop for price and holders, backed by a devoted and engaged community actively championing the project. Bitgert’s recent developments, like its exclusive EV launch in Dubai, and the launch of Bitgert ecosystem’s reward coin, BEFE, which has been rallying off the charts since the launch, have created a lot of buzz around Bitgert’s roadmap. 

If diving into Solana or Bitgert intrigues you, exploring their official websites and social media hubs could be a great start. Trusted platforms like Bitgert Exchange offer a secure haven for acquiring these currencies with low fees and swift transactions. Stay updated on the latest happenings by joining their Telegram group or following them on Twitter.

I get questions like this often, and although they usually come from newbies, this information is extremely important for anyone working with cryptocurrency. Exchanges This storage method is highly discouraged, as there is a rule of “not your private key = not your coins.” Exchanges can get hacked, go bankrupt, or even block your account, causing you to lose your funds. Exchanges are designed for trading, not for storing all your cryptocurrencies.WalletsWallets come in cold and hot, as well as hardware and paper. I'll tell you about the ones I use myself and give some tips.1. For small amounts it is convenient to use mobile wallets such as Trust Wallet. Make sure your phone is virus-free and it is best to install the wallet on a clean device.2. For large amounts, it is recommended to use hardware wallets such as Ledger. Buy them only from official sites, avoid purchasing from third parties to avoid viruses and scams. Tips1. Always save your wallet secret phrase (12 or 24 words). Without it, you will not be able to restore access to your cryptocurrency.2. Do not store the secret phrase on a computer connected to the Internet.3. Diversify your assets, store them in different wallets, so that if your phrase is lost or hacked, you don’t risk losing all your funds. 📊💼🔐Remember, the security of your cryptocurrency is your responsibility! 🚀🔒💰

What is passive income?

Trading or investing in projects is one way to make money in the blockchain industry. However, that typically requires detailed research and a substantial investment of time – but it still won’t guarantee a reliable source of income. 

Even the best investors can experience prolonged periods of loss, and one of the ways to survive them is to have alternative sources of income.

There are other methods than trading or investing that can help you increase your cryptocurrency holdings. These can pay ongoing income similar to earning interest, but only require some effort to set up and little or no effort to maintain.

This way, you can have several streams of income that, in combination with each other, can add up to a significant amount.

This article will go through some of the ways that you can earn a passive income with crypto.


What are the ways you can earn passive income with crypto?

Mining

Mining essentially means using computing power to secure a network to receive a reward. Although it does not require you to have cryptocurrency holdings, it is the oldest method of earning passive income in the cryptocurrency space.

In the early days of Bitcoin, mining on an everyday Central Processing Unit (CPU) was a viable solution. As the network hash rate increased, most of the miners shifted to using more powerful Graphics Processing Units (GPUs). As the competition increased even more, it has almost exclusively become the playing field of Application-Specific Integrated Circuits (ASICs) - electronics that use mining chips tailor-made for this specific purpose.

The ASIC industry is very competitive and dominated by corporations with significant resources available to deploy on research and development. By the time these chips arrive on the retail market, they are likely already outdated and would take a considerable amount of mining time to break-even.

As such, Bitcoin mining has mostly become a corporate business rather than a viable source of passive income for an average individual.

On the other hand, mining lower hash rate Proof of Work coins can still be a profitable venture for some. On these networks, using GPUs can still be viable. Mining lesser-known coins carries a higher potential reward, but comes with higher risk. The mined coins might become worthless overnight, carry little liquidity, experience a bug, or see themselves hindered by many other factors.

It is worth noting that setting up and maintaining mining equipment requires an initial investment and some technical expertise. 


Staking

Staking is essentially a less resource-intensive alternative to mining. It usually involves keeping funds in a suitable wallet and performing various network functions (such as validating transactions) to receive staking rewards. The stake (meaning the token holding) incentivizes the maintenance of the network’s security through ownership.

Staking networks use Proof of Stake as their consensus algorithm. Other versions of it exist, such as Delegated Proof of Stake or Leased Proof of Stake.

Typically, staking involves setting up a staking wallet and simply holding the coins. In some cases, the process involves adding or delegating funds to a staking pool. Some exchanges will do this for you. All you have to do is keep your tokens on the exchange and all the technical requirements will be taken care of.

Staking can be an excellent way to increase your cryptocurrency holdings with minimal effort. However, some staking projects employ tactics that artificially inflate the projected staking returns rate. It is essential to investigate token economics models as they can effectively mitigate promising staking reward projections. 

Binance Staking supports a wide variety of coins that will earn you staking rewards. Simply deposit the coins on Binance and follow the guide to get started.


Lending

Lending is a completely passive way to earn interest in your cryptocurrency holdings. There are many peer-to-peer (P2P) lending platforms that allow you to lock up your funds for a period of time to later collect interest payments. The interest rate can either be fixed (set by the platform) or set by you based on the current market rate.

Some exchanges with margin trading have this feature implemented natively on their platform.

This method is ideal for long-term holders who want to increase their holdings with little effort required. It is worth noting that locking funds in a smart contract always carries the risk of bugs.

Binance Earn offers a variety of options that let you earn interest in your holdings.

 

Running a Lightning node

The Lightning Network is a second-layer protocol that runs on top of a blockchain, such as Bitcoin. It is an off-chain micropayment network, which means that it can be used for fast transactions that aren’t immediately transferred to the underlying blockchain.

Typical transactions on the Bitcoin network are one-directional, meaning that if Alice sends a bitcoin to Bob, Bob cannot use the same payment channel to send that coin back to Alice. The Lightning Network, however, uses bidirectional channels that require the two participants to agree on the terms of the transaction beforehand.

Lightning nodes provide liquidity and increase the capacity of the Lightning Network by locking up bitcoin into payment channels. They then collect the fees of the payments running through their channels.

Running a Lightning node can be a challenge for a non-technical bitcoin holder, and the rewards heavily depend on the overall adoption of the Lightning Network.


Affiliate programs

Some crypto businesses will reward you for getting more users onto their platform. These include affiliate links, referrals, or some other discount offered to new users that are introduced to the platform by you.

If you have a larger social media following, affiliate programs can be an excellent way to earn some side income. However, to avoid spreading the word on low-quality projects, it is always worth doing some research on the services beforehand.

If you are interested in earning passive income with Binance, join the Binance Affiliate Program and get rewarded when you introduce the world to Binance!


Masternodes

In simple terms, a masternode is similar to a server but is one that runs in a decentralized network and has functionality that other nodes on the network do not.

Token projects tend to give out special privileges only to actors who have a high incentive in maintaining network stability. Masternodes typically require a sizable upfront investment and a considerable amount of technical expertise to set up.

For some masternodes, however, the requirement of token holding can be so high that it effectively makes the stake illiquid. Projects with masternodes also tend to inflate the projected return rates, so it is always essential to Do Your Own Research (DYOR) before investing in one.


Forks and airdrops

Taking advantage of a hard fork is a relatively straightforward tactic for investors. It merely requires holding the forked coins at the date of the hard fork (usually determined by block height). If there are two or more competing chains after the fork, the holder will have a token balance on each one.

Airdrops are similar to forks, in that they only require ownership of a wallet address at the time of the airdrop. Some exchanges will do airdrops for their users. Note that receiving an airdrop will never require the sharing of private keys - a condition that is a telltale sign of a scam.


Blockchain-based content creation platforms

The advent of distributed ledger technologies has enabled many new types of content platforms. These allow content creators to monetize their content in several unique ways and without the inclusion of intrusive ads.

In such a system, content creators maintain ownership of their creations and usually monetize attention in some way. This can require a lot of work initially but can provide a steady source of income once a more substantial backlog of content is ready. 


What are the risks of earning passive income with crypto?

Buying a low-quality asset: Artificially inflated or misleading return rates can lure investors into purchasing an asset that otherwise holds very little value. Some staking networks adopt a multi-token system where the rewards are paid in a second token, which creates constant sell pressure for the reward token.

User error: As the blockchain industry is still in its infancy, setting up and maintaining these sources of income requires technical expertise and an investigative mindset. For some holders, it might be best to wait until these services become more user-friendly, or only use ones that require minimal technical competence.

Lockup periods: Some lending or staking methods require you to lock up your funds for a set amount of time. This makes your holdings effectively illiquid for that time, leaving you vulnerable for any event that may negatively impact the price of your asset. 

Risk of bugs: Locking up your tokens in a staking wallet or a smart contract always carries the risk of bugs. Usually, there are multiple choices available with various degrees of quality. It is imperative to research these choices before committing to one. Open-source software might be a good starting point, as those options are at the very least audited by the community.


Closing thoughts

Ways to generate passive income in the blockchain industry are growing and gaining popularity. Blockchain businesses have also been adopting some of these methods, providing services commonly referred to as generalized mining.

As the products are getting more reliable and secure, they might soon become a valid option for a steady source of income.