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Bitcoin Blockchain Is Fighting Fraud In Guatemala’s Presidential Elections

Bitcoin is helping secure the truthfulness of Guatemala’s election results.

Thanks to OpenTimestamps, a tool created by bitcoin developer Peter Todd a few years ago, Guatemalan tech startup Simple Proof is able to safeguard key documents about the country’s presidential elections from fraud and tampering. Todd’s tool, which leverages hash functions and the bitcoin blockchain, is able to timestamp pieces of information and make it easier to spot attempts at fraud and manipulation.

The idea of timestamping documents is fairly old. Individuals and societies have relied on this technique for centuries to indicate when a document was signed, when a cheque was written, or when someone was born. Cryptographic timestamps, however, are much newer. They take the concept of human timestamping a step further by relying on math instead of a fallible and corruptible human being. Signatures can be forged by sophisticated actors, and authorities can be subject to different incentives, making them capable of being bribed or corrupted. Also, “to err is human,” while math makes no error if the correct algorithms are used.

An example of a good algorithm is a hash function, a type of mathematical function that takes a variable sized input to output a fixed length result. This result is called the hash of that input. Hash functions are used in the bitcoin network, notably in blocks that get added to the blockchain, as well as by OpenTimestamps.

How Does OpenTimestamps Work?

OpenTimestamps leverages hash functions to cryptographically timestamp any piece of data into the bitcoin blockchain. In this case, math is being leveraged to improve upon the use of human signatures or attestation, and the bitcoin blockchain is being used as a decentralized digital ledger to anchor that information, linking it to a block. This ensures tens of thousands of nodes in the network can all independently witness the existence of the timestamp anchor and be able to verify that indeed that hash was added to a block which was mined at a certain time.

OpenTimestamps works by hashing the information submitted by a given user and adding it to a bitcoin block with a bitcoin transaction. Since the bitcoin block’s hash is calculated leveraging all the information contained in that block, the timestamping data is necessary for the calculation of that block’s hash. In other words, the assumption with the timestamping is that the miner must’ve necessarily started with that timestamp transaction –– along with the other transactions contained in the block –– to arrive at the block’s hash. This means that the information that was timestamped must have existed prior to the creation of that bitcoin block. Since every bitcoin block has a timestamp of its own, users can check the date and time that block was mined and be able to be assured with mathematical certainty that the document existed in a point in time prior to that block’s timestamp.

On its own, this assurance isn’t that valuable. Sure, it lets someone prove that a piece of data existed prior to a given point in time, but how is this useful? Well, combined with other types of information and evidence, many things can be deduced from this simple assurance. For example, one can deduce that since that information existed before that bitcoin block, any changes to that information were done after that time if its hash is different.

The pieces of information and evidence necessary for more sophisticated conclusions need to be handled by the user because, ultimately, all that OpenTimestamps provides is the proof of inclusion of the hash of that information in that bitcoin block. Therefore, users that requested the timestamp should keep the original information in hand in case they want to prove their data matches the timestamp. Given the properties of hash functions –– the same inputs always generate the same output –– the hash will be the same if the information hasn’t been altered. Thus, it becomes quite easy to tell if any alterations have been made to the original information because the hash would be different.

Under the hood, OpenTimestamps doesn’t put the hash of each individual piece of data being timestamped into bitcoin. That could be expensive, as it would require one on-chain bitcoin transaction for each timestamp. Instead, OpenTimestamps leverages Merkle trees to compact that information as much as possible.

Similar to how you can hash a large piece of information and arrive at a fixed length hash, you can hash two hashes further and get to a single hash. Likewise, you can start with four pieces of information, hash them individually, then hash them in pairs until you’re left with only one hash. The value proposition of Merkle trees in this context is all about scaling this setup, where you have a large number of individual pieces of information and you hash them until you’re left with one hash –– the root hash. OpenTimestamps takes this root hash and adds it to bitcoin, distributing the cost of a single bitcoin transaction to each initial piece of information that was submitted for timestamping and used to construct the tree.

Users can still check that their individual hash was added, and that ultimately their data was timestamped. They can leverage the OpenTimestamps website, or go full cypherpunk and hash all the data until they reach the tree’s root hash and crosscheck with the data that’s on bitcoin.

What Does This Have To Do With Guatemala?

Guatemala has a long history of corruption and fraud amid its political circles. Simple Proof was implemented in that context by ITZ DATA as an immutable backup solution for the Guatemalan Supreme Elections Tribunal (TSE) –– the highest electoral authority in the country.

"The Simple Proof solution, named Immutable Backup, leverages the OpenTimestamps protocol to record proofs of documents in a tamper-evident manner on the bitcoin blockchain," Rafael Cordón, co-founder of Simple Proof, told Bitcoin Magazine. "TSE used Simple Proof to safeguard official election documents and protect critical information from artificial intelligence and disinformation, ensuring that any tampering of documents is made evident and any citizen can independently verify the information for themselves."

Guatemala’s citizens can check any given tally sheet and verify its proof of timestamp through a dedicated web portal. Each sheet contains the sum of votes for each candidate at a voting poll. Therefore, transparency is provided to the population regarding the tally sheets that were scanned and used to count the votes, as well as when each tally sheet was timestamped.

It is important to note that this setup can’t attest whether a given tally sheet is valid or not; there is still a trust assumption towards TSE. However, it is an improvement over just taking officials for their word, as it is, for example, easier to spot outliers among all the tally sheets. Rather than being able to tell voters specific validity information for any single tally sheet, OpenTimestamps allows an overview of the entire context of the elections.

For example, it arguably shouldn’t take more than an hour after voting ends to scan a tally sheet, upload it to Simple Proof’s solution, and get it timestamped into a confirmed bitcoin block. If the majority of tally sheets fall within that hour but a few were timestamped much longer after the closing of votes, it is reasonable to assume that those outlier sheets have a much greater chance of being fraudulent than the other ones. In other words, in the event that a tally sheet was entered much after it was supposed to, the timestamps are going to tell you that it is suspicious that it took that long to timestamp the sheet after the polls closed rather than less than an hour later.

This was and still is being specially important in the context of Guatemala’s elections because of the tension there was leading up to the race, as well as the outlier candidate who ended up winning it. President-elect Bernardo Arévalo wasn’t expected to even qualify for the main race months before it took place.

Once Arévalo won the presidential election, the outcry was massive. Officials from the office of the country’s attorney general, María Consuelo Porras, raided facilities of the TSE, opening dozens of boxes of votes, per AP. The opposing party, UNE, claimed the victory was fraudulent and demanded a vote recount.

UNE posted a thread on X explaining their rationale with some alleged evidence –– including a screenshot of one tally sheet on Simple Proof’s web tool that showed it was timestamped before the polls closed.

Either in an attempt to push their narrative or by mistake, the screenshot of that tally sheet was taken on a different timezone than the country’s capital official time, leading to the one-hour difference. In this specific case, bitcoin helped ensure the claims made by UNE were false, and any citizen was able to verify it by checking the timestamp on their computer. Notably, one did –– publishing a screenshot on X rectifying that the tally sheet UNE claimed had been tampered with had actually not been timestamped too early.

While bitcoin was designed and developed solely to solve the double spend problem and achieve electronic peer-to-peer money, its network of nodes and decentralized ledger can power other interesting use cases.

In this case, it’s evident how Simple Proof played an important role in protecting key election information. Had OpenTimestamps and bitcoin not been a part of the process of securing that information in a cryptographic, public and decentralized manner, there could’ve been a much bigger outcry and tumultuous procedures to try to ensure the information hadn’t been tampered with. Doubts would most likely still persist, and in a country with a history of fragile democratic procedures, the shaking of confidence could deter the president-elect’s ability to lead the nation as its rightful new leader.

- Marie Poteriaieva
French Restaurant Seeks to Drive Bitcoin Adoption, Accepting Only BTC for High End Menu Item

Can Bitcoin possibly rhyme with tradition?

This new currency is so young and so different from the usual dollars and euros, that for most people it seems disconnected from the economic reality and even further - from their lives. Despite the fact that paying with Bitcoin is not much more complicated than paying with a credit card, it looks like for the majority it is still a quasi-esoteric experience.

There is definitely a psychological barrier to Bitcoin adoption.

To lower this barrier, what can be better than associating Bitcoin with something that is widely acknowledged and cherished? Something with a reputation that speaks for itself, capable of pulling Bitcoin from its shadow of “internet speculation” and propelling it into the realm of legit alternative money?..

For the French people, traditional restaurants fit this role perfectly, especially when coupled with a rare digestive and a captivating story of craftsmanship and heritage.

This is a story of how the centennial traditions of the Lyonnaise eating and drinking were harnessed to promote Bitcoin adoption.

The Eating

If there’s one feature common to all French people, it’s their shared love for eating and drinking. They have been practicing these seemingly uncomplicated things with so much passion and devotion that they have become art.

The city of Lyon is the capital of French gastronomy and a home to a staggering number of restaurants. Among them, the traditional “bouchon” holds a special place in the hearts of the French: serving traditional food in a traditional setting, it is comforting both for the stomach and the soul.

Like many bouchons, Comptoir Brunet in the center of Lyon is a family business, dishing up Lyonnaise cuisine staples like andouillettes or chicken liver cake since 1934. It is different from others, however, in that it is now managed by a fervent Bitcoiner.

Benjamin Baldassini fell down the rabbit hole 5 years ago, after getting his IT degree. For a brief moment he even considered contributing to the Bitcoin codebase, but after the passing of his father, he was called to uphold the family tradition and decided to take over the restaurant.

After ensuring he was well-equipped for perpetuating Lyon’s rich gastronomic tradition, and that the famous pike quenelles in crayfish sauce were as fluffy as those served under his father’s direction, the new restaurateur decided to bring Bitcoin into the picture.

Enabling Bitcoin payments was the first thing to do.

As a true purist, instead of opting for an existing crypto payment solution for merchants, Benjamin put his IT degree to use and installed his own Bitcoin node, followed by BTCPay Server, a payment processor on Lightning Network. Developed by Nicolas Dorier, another Lyonnais and a regular contributor to Bitcoin projects, this free self-hosted solution felt like the most natural choice, even if it did present some technical challenges.

After the restaurant staff was equipped with Bitcoin and Lightning Network wallets, and the door sign proudly announced “Bitcoin accepted here”… the crushing majority of customers continued paying their parsley sauteed frog legs in euros.

To encourage payments in Bitcoin, Benjamin went further and leveraged two other very French traditions - the “apéro” and exquisite liquors.

The Drinking

Each first Wednesday of the month, French cities test their alarm system. In Lyon, this also signals the Bicoin-only apéro at Bouchon Comptoir Brunet.

Much more than a simple pre-dinner drink, as its name would suggest, the apéro (short for aperitif) is an important part of life in France. The combination of a leisurely afternoon, snacks, and wine (or beer) makes for a great opportunity to gather with friends and remake the world.

By imposing an apéro paid only in Bitcon, Café Brunet witnessed an impressive influx of… the city’s bitcoiners. However, while offering the community a space to get together and spend their bitcoin was a valuable contribution, Benjamin sensed he was still falling one step short of providing a concrete incentive for Bitcoin adoption.

This is when he came up with a new way of introducing Bitcoin to newcomers, and a very French way at that: the one that involves mountains, monks, and a centuries-old recipe of herbal digestive.

Connoisseurs might have already deduced it was the Chartreuse - a fine herbal spirit distilled by the Carhusian monks in the Chartreuse mountains of southeastern France. The formula for this digestif aged with 130 herbs and flowers is a well-guarded secret, and authentic Chartreuse is a rare drink to find.

In fact, it is becoming even rarer now. Despite a great demand from the world’s best bars and restaurants (particularly in the U.S.), the monks have recently decided to reduce their production to “maintain their spiritual health”. After all, distilling Chartreuse was never about business; it focused on preserving the knowledge and the heritage of the monastery, generating just enough money to sustain it, allowing monks to do their main job - pray and contemplate.

The monks are selling their liquor mainly to those who have been buying it in the past, never exceeding prior quantities. This makes the list of Chartreuse resellers extremely small, and as it happens, Bouchon Comptoir Brunet is on it.

The restaurant receives a fixed number of Chartreuse bottles every year, including the very rare Reine de Liqueurs, the Queen of Liqueur. This is what Benjamin decided to leverage.

Now, those who wish to taste the unmatched Reine des Liqueurs, must procure themselves some sats first. This coveted and rare liquor is used as a means of promoting payments with equally coveted and rare money - Bitcoin. Admittedly, there’s a certain elegance to this approach.

As any currency, Bitcoin needs to be used, and the work that is done by Benjamin and people like him all over the world to encourage Bitcoin payments is extremely important. Even more so, when this work is supported by the power of traditions, honoring the legacies of the generations of Lyonnaise cooks and Chartreuse monks.

In hindsight, Benjamin could not have made a better choice for promoting Bitcoin than becoming a restaurateur. 

This is a guest post by Marie Poteriaieva. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

- Jesse Colzani
The Subtle Art of Orange Pilling

Throughout the years, I have presented the case for Bitcoin to a lot of people from a wide range of backgrounds. The list includes curious cab drivers, financial advisors, young software developers, skeptical policymakers, voiceless activists, and once even an IMF employee.

Needless to say, most of these attempts ended up falling on deaf ears. So I started asking myself “why would this person in front of me care about Bitcoin?” and immediately realized that getting a response was particularly challenging because—even among Bitcoiners—there is no common understanding of what Bitcoin is in the first place. Is it “peer-to-peer electronic cash” as Satoshi originally defined it? Or should we consider it as “digital property” as Michael Saylor suggests? Or maybe listen to Gary Gensler and define it as a commodity?

As tempting as it is to look for a common definition for Bitcoin, doing so during a time when even the most simple linguistic choices are under scrutiny makes such a venture uninspiring and, frankly, pointless.

What I decided to do instead was understand what each of those people really cared about and how Bitcoin could fit into their view of the world rather than expecting them to understand a subject they are barely interested in. As the saying goes, “If the mountain will not come to Mohammed, Mohammed must go to the mountain.”

By doing so, I realized it was unreasonable to act like Morpheus and expect my interlocutors to take a big orange pill. After all, if that approach barely worked with Neo who was “the chosen one”, why would it work with my brother-in-law or with a stranger sitting next to me on the plane?

Image source: 

Because I’ve known for a while that Bitcoin’s nature is multifaceted, the very idea of one single entry point to a multifaceted concept did not sound right. Depending on where one lives, social status, professional background, set of beliefs, values, and environment, there will be a different (and smaller) orange pill that will be more appropriate for each person.

More categories may emerge in the future (Jason Lowery, for example, proposes a military interpretation of Bitcoin and the recent ordinals frenzy reminded us how valuable Bitcoin’s block space can be as its own use-case), but here are the four main buckets that I have identified so far—which represent four different set of problems that Bitcoin is solving for.

1 - Hard Money

In this sense, it’s more typical of a precious metal. Instead of the supply changing to keep the value the same, the supply is predetermined and the value changes —Satoshi Nakamoto

The first sets of problems that Bitcoin attempts to solve originate from a financial system that is broken in its most foundational aspects. For those not understanding, the problem can be described as having a similar nature (but, of course, different magnitude) to hyperinflation in Weimar Republic and Venezuela. The constant debasement of currencies (even the “mild” 2% inflation we all know about) has a tremendous societal impact, with those who are “close to the money printer” being the only winnersa phenomenon also known as the Cantillon Effect.

Unlike fiat money and commodities, such as gold, Bitcoin’s total supply is capped, which makes it the most scarce store of value in the history of mankind and, therefore, an ideal store of value in the long term.

For all those living in the half of the world that is experiencing double-digit inflation, this is a particularly interesting moment to understand how money printing and currency debasement can affect so many aspects of their lives. In fact, people who have lived through the 70s and those living in countries such as Venezuela, Lebanon, Zimbabwe, Argentina, and Turkey will be more receptive to the idea of Bitcoin as a way to preserve their purchasing power in inflationary environments.

This is arguably one of the most difficult aspects of Bitcoin to understand given the number of assumptions it requires us to challenge (e.g. “controlled inflation is good for the economy” or “fiat currencies are stable”). Yet, it’s arguably the most powerful orange pill that one could take.

2 - Superior Payment Network

Humans have invented the best financial tool in our history, and it’s an exciting time to be alive and use it — Jack Mallers

For the first time in human history, money and a payment network are integrated into one open and global system. Not only can Bitcoin serve as a store of value in the long term as explained above, but it also functions as a global medium of exchange that does not require any third party.

In a few seconds, money can be sent anywhere in the world by only paying a fraction of a cent. Compared to bank transfers, credit cards, and remittances, sending money through Bitcoin is significantly cheaper and faster.

People who don’t like bitcoin as a store of value can just use it as a payment system by converting it to the local currency at the two ends of the transaction. Why do that instead of using legacy systems? Perhaps to quickly send money during earthquakes and wars. Or to bypass remittance companies that take weeks to transfer money and charge up to 10% in fees.

The potential of Bitcoin just as a payment network extends to the most unthinkable areas. Micropayments have the potential to boost the creator economy and or solve the problems that have been haunting social networks.

3 - Freedom Technology

It would be a dark, dark world if Bitcoin didn't exist — Alex Gladstein

The two previous perspectives address the common criticism that “Bitcoin is useless”. But another common criticismoften paired with the former even though it directly contradicts itis the fact that (just like cars, computers, and most technologies) Bitcoin is used by criminals.

As crazy as it might sound to many, that’s a feature, not a bug. Because in those instances where it’s ethnicity, religion, sex, or political views that determine whether one is a criminal, having a financial system that cannot be weaponized by the government is one of the best insurance policies you can wish for. That is particularly true for two-thirds of the global population that lives in backsliding democracies or autocratic regimes.

Those who care about freedom and human rights should be paying very close attention to this technology. Bitcoin has already provided lifeline support for individuals in need for over a decade. Wikileaks would have not been able to expose serious violations of human rights and civil liberties without Bitcoin. Similarly, many in North Korea, Iran, Afghanistan, Ukraine, Hong Kong, Belarus, Nigeria, and Russia also use Bitcoin as a tool to escape the control and government censorship.

As we move away from physical money and the potential for financial surveillance and censorship increases exponentially, the world will greatly benefit an additional set of checks and balances to limit the power of governments and corporations. Understanding this is very important for all those that are active in promoting individual freedom and human rights in the most authoritarian corners of the world.

4 - Energy Buyer Of Last Resort

It is a win-win-win for everybody. It's a win for the environment and an inarguable win for the economy — Dennis Porter

Lastly, there is a relatively small crowd of people who might be able to appreciate Bitcoin for a very different set of reasons. Bitcoin constitutes an unprecedented opportunity to build a cleaner, more resilient, and more efficient energy infrastructure. Bitcoin can mitigate the problem of intermittencythe demand/supply mismatch that occurs with renewable energyand help with the $13B problem of congestion of the electric grid in rural areas.

Bitcoin miners can strengthen these grids and incentivize the deployment of more renewable energy by adapting to the fluctuations of power generation schedules since their rigs can be turned off at any moment without notice. Commonly referred to as “energy buyers of last resort”, Bitcoin miners are perfect for Demand Response programs. Last year, Bitcoin miners in Texas “returned up to 1,500 megawatts to the grid, enough to heat over 1.5 million small homes or keep 300 large hospitals fully operational”.

Bitcoin miners are also finding very creative ways to utilize energy that was previously wasted and many are arguing that Bitcoin is “the only available, practical and scalable technology when it comes to tackling the world’s most deadly greenhouse gas: methane.”

There’s (at least) four orange pills, and people don’t need to take them all.

Source: Author

One of the things I learned during my Bitcoin journey is that this is not a mono-functional technology like a washing-machine or an elevator. Because Bitcoin solves many different problems, its perceived value and utility will change significantly depending on who you talk to.

Those living in South Carolina might not care about censorship resistance or privacy as much as the local jobs that are created by a new Bitcoin company. The Turkish population might have not cared about Bitcoin as an inflation hedge (given the country’s situation, it should) during the earthquake earlier this year, but just needed a way to receive money as fast as possible. North Korean defectors like Yeonmi Park are not really interested in how Bitcoin micropayments can support artists online while they are being sold for less than $300 as sex slaves.

Listening and trying to understand who you are talking to is the most important thing you can do when presenting an idea. That is particularly true with Bitcoin, given the negative bias most people have towards it, how complex it is to understand, and how difficult it is to challenge some of the greatest assumptions that most people have.

This simple framework is an attempt to strategically identify the areas of interest of people who are new to Bitcoin and avoid overwhelming them with a big orange pill they might not be ready for.

Instead, by choosing between hard money, payment system, freedom technology, and energy buyer, I am now able to better structure conversations and elevator pitches when engaging with people and answering the usual “Uh! Tell me more about this Bitcoin thing!” question.

So go ahead, choose your orange pill and remember the most important question for Bitcoin is “why would one care about it?”

This is a guest post by Jesse Colzani. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

- Ethan Reed
The Evolution of Bitcoin Wallets: From the Early Days to Today's Modern Solutions

Since its conception in 2009, Bitcoin, a revolutionary digital money, has advanced significantly. The development of Bitcoin wallets has been astounding along with the rise of Bitcoin. It has been a wonderful journey from simple solutions to the sophisticated and feature-rich wallets we have today. We'll go into the fascinating past of Bitcoin wallets in this post, and we'll also look at how they've changed to accommodate the demands of modern cryptocurrency fans.

Key TakeawaysSince the beginning of cryptocurrencies, bitcoin wallets have seen tremendous development.Modern systems now provide improved convenience, security, and user-friendly features.Users may choose a wallet with more knowledge if they are aware of the evolution of Bitcoin wallets.Bitcoin Wallet: A Private Digital Safe Photo by DrawKit Illustrations on Unsplash

Let's first define a Bitcoin wallet before starting our time travel adventure. A Bitcoin wallet is a software program or physical object that enables users to securely store, transmit, and receive bitcoin. Your private keys, which are necessary for accessing your Bitcoin assets, are stored in it as a virtual vault. It would be nearly difficult to conduct Bitcoin transactions without a wallet.

Fun fact: Did you know that Satoshi Nakamoto, the enigmatic person who invented Bitcoin, carried out the first transaction? On January 12, 2009, he gave developer Hal Finney 10 bitcoins, thus launching the cryptocurrency.Paper Wallets and Simple Software Wallets in the Beginning

Security was a major issue in the early days of Bitcoin. To store their private and public keys, users depended on paper wallets, which were simply printouts. The keys were stored offline, away from any online threats, in these paper wallets, making them safe. They were inconvenient, though, because each transaction needed human key input.

Interesting fact: On May 22, 2010, Laszlo Hanyecz created history by carrying out the first Bitcoin transaction in the real world. He spent 10,000 bitcoins, or millions of dollars in today's currency, to buy two pizzas.

Basic software wallets soon followed, offering a more user-friendly interface. Users could easily manage their Bitcoin on their PCs with the help of these wallets, which were easy to install. To avoid data loss, they needed to be constantly backed up and were susceptible to virus assaults.

Mobile Wallets: Access to Bitcoin Anywhere Photo by on Unsplash

With the popularity of smartphones, Bitcoin wallets appeared on portable electronics, enabling users to carry their digital assets with them wherever they went. Mobile wallets made using Bitcoin more convenient and opened the door for regular transactions.

Fun fact: In 2013, James Howells, a programmer, mistakenly threw away a hard drive containing his Bitcoin wallet. The hard disk was eventually dumped in a landfill, where it is still today. Over 7,500 bitcoins, worth millions of dollars, are thought to be in the misplaced wallet.Accessing Bitcoin Anywhere, Anytime with Web Wallets

The ability to access money from any internet-connected device thanks to web wallets transformed the Bitcoin experience. Users no longer had to bother about backups or install software. They may use a web browser to safely access their Bitcoin, making it simpler for beginners to enter the cryptocurrency realm.

Interesting fact: In 2014, Mt. Gox, previously the biggest Bitcoin exchange, experienced a significant security breach that cost the company around 850,000 bitcoins. The significance of security precautions in safeguarding Bitcoin wallets was brought home by this occurrence.Hardware Wallets: The Bitcoin Fort Knox

Hardware wallets became the most safe choice as Bitcoin's value skyrocketed and security worries multiplied. These tangible objects protect private keys from potential internet attacks by storing them offline. Hardware wallets offer an additional degree of security for your Bitcoin by being resistant to hacker attempts.

Fun fact: By the end of 2020, more than 1.5 million pieces of the Ledger Nano S, one of the most popular hardware wallets, had been sold.Feature-Rich and User-Friendly Modern  SolutionsPhoto by Shubham Dhage on Unsplash

Bitcoin wallets have become sophisticated, feature-rich solutions in modern times. They provide seamless exchange integration, support for several currencies, biometric identification, and improved user interfaces. Some wallets even let users to engage in decentralized finance (DeFi) systems and earn interest on their Bitcoin holdings.


From its inception to the present, Bitcoin wallets have had an amazing journey. Wallets have improved in security, practicality, and use with each new development. It's important to keep in mind, though, that in the end, it's your obligation to protect your Bitcoin. To guarantee the safety of your digital riches, keep educated, follow best practices, and select a wallet that fits your demands. Wallets are incredibly important in the fascinating world of Bitcoin. Your Bitcoin adventure awaits, whether you choose a stylish mobile wallet or the strong security of a hardware wallet.

This is a guest post by Ethan Reed. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

- Mark Goodwin
Ideal Banking

This article is featured in Bitcoin Magazine’s “The Withdrawal Issue”. Click here to subscribe now.

A PDF pamphlet of this article is available for download.

“The special commodity or medium that we call money has a long and interesting history. And since we are so dependent on our use of it and so much controlled and motivated by the wish to have more of it or not to lose what we have we may become irrational in thinking about it and fail to be able to reason about it like about a technology, such as radio, to be used more or less efficiently.” - John Nash

Money is a technological tool that humans developed organically out of the necessity of bargaining axioms such as time and space. Many of the financial services that exist today have risen to meet the need of an evolving market, and yet at its most reductive, the modern banking system still represents supply and demand via sellers and buyers. This remains true even when looking into the complicated circuit of the U.S. banking system, including the regional banks providing mortgages for first-time buyers, to corporate debt obligations from large private American banks, to the issuance of government bonds by the Treasury. Only by examining the monetary flow in a logical manner within our current system can we begin to present coherent alternatives to the status quo of a select few holding the special privilege as a world reserve currency debt pardoner. At the center of the circuit of the U.S. banking system sits the Federal Reserve and the Treasury — a proprietary black box chip that controls both the current (short-term and overnight interest rates) and voltage (the issuances of U.S. Treasuries, “USTs”).

“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts.” - Satoshi Nakamoto

Tracing The Circuit

The reserve asset at the bottom of the stack of the U.S. economy is not the U.S. dollar, but rather U.S. Treasuries. Offshore dollar markets such as the eurodollar have long operated under the illusion of dollar creation by these European banks without hardly touching U.S.-issued government debt. The Treasury issues debt in the form of USTs to be sold to private banks, who later create credit via dollars in their customer accounts in order to finance the budget of the U.S. government, as well as service any outstanding national debt. The idea of issuing new debt to service old debt would seem illogical, and in many ways it is, yet becomes far more conceivable with the proper understanding that not all debt is created equal. Debt, at least in the Treasury issuance example above, is demarcated by both the percentage of profit generated as yield, and the duration until said bond reaches maturity. Historically, and perhaps logically, the longer the duration (twenty years vs one year), the higher the yield (2.4% vs 1.2%, using real rates from March 2022). The most liquid denomination of government debt are short-term Treasury bills, referred to as T-bills, which are any bonds with a maturity date less than one year; generally, the yields on those bonds are most directly influenced by short-term federal funding rates. When the government wants to sell more debt, it can increase the yield on these T-bills by increasing the short-term interest rate on offer, driving yield-seeking capital back into the U.S. banking system in search of profit. When rates rise, the cost to borrow increases and these new debt instruments soak up excess dollar liquidity.

Conversely, when rates fall, the cost to borrow decreases, and thus the demand for personal debt increases. To put it simply, if rates are at or near zero, more people will take on debt due to the negligible additional economic cost of eventually paying it back. When rates are higher, and there is market-high yield to be made on simply loaning dollars to the government by purchasing government-issued securities, there is little available supply to be loaned out, and even less demand due to the high costs of borrowing. The issue with this credit-debt boom-bust cycle is that it is levered by trusted third parties, culminating with a buyer and lender of last resort at the modern Federal Reserve — who are in fact actually limited in their ability to manipulate the short end of the yield curve. The yield curve demonstrates the different yields offered by the bond market, denoted by their duration. When there is unexpected and excessive relative volatility within short-term interest rates, the yield curve can invert, meaning short-term debt now pays a higher yield than long-term bonds. If simply held to maturity, sometimes as long as 30 years, Treasury bonds will never yield a material loss, but if short-term liquidity needs strike a bank in the form of depositors withdrawing, banks are forced to sell and realize a loss.

The health and efficiency of the U.S. banking system can be measured in how volatile short-term interest rates are, the state of the yield curve, foreign and domestic interest in government-issued bonds, and the discrepancy between outstanding liabilities and reserves — be it securities or cash.

The New Dollar: FedNow, Not Retail CBDCs

The dollar has been digitized for a long time; be it the Zelle or Venmo credits in your retail account, or the dollar balance in your checking account at Bank of America. But generally speaking, the mechanisms behind the transfer of Treasuries and other reserve assets backing these numbers on a screen have remained at the technical agility of a fax machine. The dollar may be the world reserve currency, and can be transacted via intermediaries on obvious centralized banker rails, or less obviously on Ethereum rails via ERC-20 tokens in the form of popular retail stablecoins, but the U.S. Treasuries held by these novel credit creators remain the world reserve asset. The public has generally feared the direct issuance of some form of retail CBDC (central bank digital currency) due to surveillance concerns and currency seizure from a centralized issuer, but fewer realize both the level of financial surveillance already imposed by banks, never mind the ability for these trusted third parties to censor, blacklist and even expose retail to their counter-party risk. All of these actions are made increasingly possible via the digitization of the currency with an encroaching reliance on centralized payment rails, but up until this July, the communication network for interbank asset trades has remained lossy and slow.

FedNow, slated to launch next month, serves multiple purposes, but perhaps none as important as creating a much more efficient lever for the Fed to have 365/24/7 influence on overnight banking rates, such as SOFR, effectively setting the cost of borrowing short-term liquidity between fractionalized private banks attempting to meet their depositors’ withdrawals. You have probably heard the phrase “reverse repo” once or twice, but the underlying mechanic is often misunderstood. The “repo” stands for a repurchasing agreement; essentially a contract between two entities in which Bank A, with excess dollar liquidity, agrees to lend cash to Bank B, with overnight liquidity needs, via a short-term loan collateralized by Bank B’s assets such as USTs, with the conditions that Bank B will repurchase their securities, usually the next morning (“overnight”), plus a percentage-based fee that Bank A gets to keep. A reverse repo is essentially the same behavior, except that Bank A is bond-rich, cash-poor and thus asking Bank B for dollar-denominated liquidity. This exact scenario came to fruition within the recent regional bank failures in the U.S., and the Fed created new mechanisms to backstop the liquidity needs of the depositors. In the case of the ever-growing reverse repo market, Bank B is routinely the largest American banks, and sometimes even the Fed directly. FedNow is a digital lever, made possible via the internet, for complete centralized control on the overnight rate of borrowing dollars, the necessary transferring of Treasuries between banks, and thus the reshoring of dollar-denominated activity away from the Eurodollar market, and back to the United States within the scope of the Fed and the Treasury.

It’s not all about payments. We will have exchanges forever. We will have banks forever.” - Calle

Banking Is More Than Payments

Did you notice that at no point above were payments even mentioned? Bitcoin in its current state is not necessarily ready to replace the dollar as a global medium of exchange, which takes advantage of financial services to scale over time and space, but it is potentially poised to replace USTs as a world reserve asset and an interbanking settlement network. For Bitcoin to service the many functions of a banking system, there needs to be further tooling beyond the peer-to-peer payment networks innate to the base layer and the Lightning Network, the most discussed second layer. Paper money represents dollars as cash, a physical bearer asset for settling debt obligations, yet the majority of U.S. dollars today exist solely as credit in a user’s account balance at a trusted third party such as a bank. In stark contrast, Bitcoin itself contains zero account balances, and instead relies on a UTXO model: Non-fungible unspent transaction outputs that when signed and spent can transfer fungible satoshis, the atomic unit of bitcoin, between wallet addresses. The address balance of your wallet is an aggregation of the multiple UTXOs associated with your private key. By sharing a UTXO between two or more parties, typically in the form of Lightning channels, Layer 2 payment solutions create near-instant, probabilistically trustless settlements allowing for account balances. By taking a UTXO and creating a shared channel with a peer, you create the functions of credit and debt within the Bitcoin network. Some instances of LN even allow sub-satoshi denominations such as “msats” — a literally unrecognizable unit on the baselayer, and thus only existing as a form of credit or debt. Due to the nature of Layer 2 solutions having the ability to simulate credit and debt, these services enable a trustless iteration of yield via routing fees, and trust-minimized financial services akin to the traditional banking system. Tooling built on top of Bitcoin can create analogs to legacy loan, yield, and liquidity-sharing services. Unfortunately, a large aspect of the trustlessness of Layer 2s being able to finalize and settle back to the mainchain is an open topological network and an ever-surveilled open ledger, significantly reducing the capacity for private financial exchanges.

“Actually there is a very good reason for Bitcoin-backed banks to exist, issuing their own digital cash currency, redeemable for Bitcoins. Bitcoin itself cannot scale to have every single financial transaction in the world be broadcast to everyone and included in the block chain. There needs to be a secondary level of payment systems which is lighter weight and more efficient.” - Hal Finney

Enter ecash

Chaumian mints were invented by cryptographer and mathematician David Chaum in a 1982 paper titled “Blind Signatures For Untraceable Payments”. Chaumian mints utilize blind signatures to represent ecash in mint-specific denominations to create near-perfect privacy within the federation. This newly found privacy is at the expense of reserve asset custody and potential economic debasement depending on both the coding of the mint instance as well as malicious actions from mint authority signatures; this is a situation nearly identical to the downsides of using a legacy financial institution. Ecash uses a similar token mechanic to bitcoin in that while a single wallet can appear to contain an aggregate account balance, in reality the ecash wallet balance is actually distributed among many iterations of common denominations of ecash tokens issued by the mint. The mint itself is completely unaware of the account which funded the initial issuance of ecash, and at redemption merely sees that it had previously validated this token via a blind signature. When using any privacy-preserving payment protocol, there are always two anonymity sets: inside and outside the protocol. While a Chaumian mint can offer near-perfect privacy when transacting within the federated mint itself, an external settlement from the mint can be noticed with a low number of user withdrawals, unassuming metadata collection, and a multitude of poor operational security choices by users. A user could generate ecash from a Chaumian mint instance via a relatively private sender-side LN payment, take the newly generated tokens and fund another outbound sender-side LN payment with zero ability for the mint to generate user account balance information, nor associated metadata with proper external privacy technique. With cheap, near instant, and perfectly private payments, if authored correctly, Chaumian mints can bridge the gaps between Layer 2 balances and even base layer UTXOs.

The New Mint

Chaumian mint construction types differ mainly in two ways: the federation construction itself and the ecash token denominations it issues. A federation can contain a single signature with administrative access to issuing its ecash, as well as having the ability to sign for the mint’s reserve asset when processing withdrawals. A federation can also enable multisignature capabilities to similar mint duties, distributing responsibilities away from a single point of failure to a quorum of trusted third parties. Ecash token denominations are unique to the mint, but theoretically decided at launch of the instance. In lossy parallel to Bitcoin’s UTXO model, there are no account balances, but rather aggregates of ecash tokens that were issued as common denominations (think $5, $10, and $20 notes). These common denominations allow for greater fungibility and far greater anonymity sets within the mint, especially when combined with issuance validation via blind signatures. All of these decisions, including the relative issuance per reserve asset — say ecash token per satoshi — are to be made by the founders of the Chaumian mint, generally upon its genesis. Cashu is a popular, open-source, single-signature instance (created by open-source developer Calle) that is capable of being spun up quickly, leaning on tooling such as LNBits to create fast and easy operability with users already on the Lightning Network. Fedimint, a multisignature instance, allows for a more decentralized mint consensus among federation members, creating more administrative checks within the mint when minting ecash tokens, and when eventually redeemed, signing transactions to withdraw from the bitcoin reserve.

Coincidentally, the main user concerns when using ecash come from its privacy-preserving qualities. Due to there being no account balances, successfully auditing a mint to check its supposed reserves against its liabilities is rather difficult. And since there are no accounts, a trusted custodian must be responsible for holding enough of the reserve asset against the total supply of ecash held by unknown users of the mint. The mint itself is a trusted third party responsible for both appropriate monetary issuance and being able to make depositors whole at time of redemption. This is another prudent parallel to our current banking system, similarly true in both a regional bank and the Federal Reserve itself, of course, with none-to-little of the privacy benefits. These concerns can be theoretically met with clever proof-of-liability schemes such as the one proposed for Cashu by Calle, which publicly generates a monthly token burn list and a monthly token issuance list, rotating issuance keys after every monthly epoch. Both of these lists simply consist of the blind signatures representing their specific ecash denominations from their issuance, and users can check that their own transactions are present in their respective monthly list. The liabilities of the mint is the difference between the mint and the burn list, and thus should be similarly demonstrated within the reserve asset wallet. Proof of reserves is simple with a bitcoin-backed financial service (a public bitcoin wallet), but proof-of-liabilities is significantly more difficult. Concerns of economic debasement and associated custodial risk are nonnegotiable on the base layer of Bitcoin, and yet these real risks are easily mitigated depending on how you use the mint. If a Chaumian mint instance such as Cashu or Fedimint sees user volume at significant scale mostly for extremely short-term payment needs, proper usage of ecash — funding and withdrawing from a busy mint nearly instantaneously — leaves little time for monetary debasement nor reserve asset theft.

“I believe this will be the ultimate fate of Bitcoin, to be the ‘high-powered money’ that serves as a reserve currency for banks that issue their own digital cash. Most Bitcoin transactions will occur between banks, to settle net transfers. Bitcoin transactions by private individuals will be as rare as… well, as Bitcoin based purchases are today.” - Hal Finney

Minting Your Own Bank

Trust is a necessary component of many of the beneficial financial services employed by the U.S. banking system. This remains true now as well as during the gold window. Loans, fractional reserve banking, and counterparty risk is all possible on a bitcoin standard, much like it was on previous hard money standards. By decentralizing the manipulation of monetary issuance away from central pardoners, bitcoin has supplanted USTs as the ideal reserve asset for a new banking system. While it is perhaps seen as a failure to simply replace the instrument banks use to settle their reserves with bitcoin, the elimination of these special privileges from the Fed as reserve asset issuers — and the replacement being a disinflationary, censorship-resistant asset — will have profound effects on the current status quo of monetary manipulation. Bitcoin’s base layer simply cannot service 8 billion people, but proper tooling in layers can allow this scarce, neutral asset unfettered access to a stable monetary policy; a revolution in banking, financial, and economic reality as we know it. Layer 2s are delegated as such due to their trustless ability to settle back to the mainchain without any third party. But ecash enables an entirely new interoperability between Layer 2s and traditional financial services, with an innate ability to be created specifically and timely in accordance to customer demands and needs. Behind every online community that warrants certain privacy needs for their users could be another unique interaction of Cashu. In order to distribute mining rewards privately, mining pool operators can use tools such as FediPools to maximize anonymity sets derived from mining reward payments.

The future of banking is not stablecoin issuers providing opportunities for the Global South to buy U.S. debt; the future is every website, every digital community, threatening to run their own ecash instance, backed by bitcoin — the only neutral reserve asset — when their current financial counterparties are eventually cut off. David Chaum built the tooling and constructed the ideas needed for everyone to be their own bank in the 1980s, and yet those were the days of double-digit interest rates, and the largest onshoring of dollar demand in the modern economic era. Now, as the U.S. banking system is showing serious fundamental cracks — from UST markets marking unrealized duration risk losses, to increasing depositor centralization in the Big Four American banks, to literal government seizure of some of the largest regional banks in the country — it is no surprise that a second wave to the ecash revolution has begun.

This article is featured in Bitcoin Magazine’s “The Withdrawal Issue”. Click here to subscribe now.

A PDF pamphlet of this article is available for download.

- Nik Hoffman
Bitcoin's Role in Russia-Ukraine Conflict to Take Center Stage in DC

The Bitcoin Policy Institute, in collaboration with the Cornell Brooks Tech Policy Institute, is set to host a high-profile panel discussion on the theme of "Digital Currencies & Strategic Competition." The event, which promises to be a pivotal moment in the ongoing conversation about the role of digital currencies in global affairs, will be held at the prestigious National Press Club on Wednesday, September 27, from 12:00 to 1:30 EDT.

The discussion will delve into crucial topics such as the use of digital currencies in sanctions evasion and financial aid, the influence of digital currencies on U.S.-China techno-industrial competition, and the security implications brought about by Central Bank Digital Currencies (CBDCs) in the United States.

One of the central themes of the discussion will be the recent Russia-Ukraine conflict, which will serve as a backdrop for examining the role of digital currencies in sanctions and financial aid. This aspect of the conversation will provide insights into how nations are using Bitcoin and digital currencies in the context of geopolitical conflicts.

Additionally, the panel will address the broader implications of digital currencies on global dynamics. Sarah Kreps, Professor and Director of the Tech Policy Institute at Cornell University and Senior Fellow at the Bitcoin Policy Institute, will join the panel to offer her expertise on the subject. Matthew Pines, Director of Intelligence at Krebs Stamos Group and National Security Fellow at the Bitcoin Policy Institute, will provide insights from a national security perspective.

Chris Meserole, Director of the Brookings Institution's Artificial Intelligence and Emerging Technologies Initiative, will contribute to the discussion by examining the interplay between digital authoritarianism and activism, shedding light on the tactics employed by authoritarian governments and the countermeasures adopted by dissidents.

The discussion will be moderated by Daniel Flatley, a distinguished National Security Reporter for Bloomberg, ensuring a well-structured and informative exchange of ideas among the expert panelists.

David Zell, Co-Founder of the Bitcoin Policy Institute, emphasized the significance of the event, stating, "We're at a pivotal moment in terms of the role Bitcoin and digital currencies play on the global stage. This panel aims to shed light on the ways emerging monetary networks are shaping the balance of power, from geopolitics to grassroots activism."

The event is open to the public, with options for both in-person attendance and livestream viewing via Bitcoin Magazine's YouTube. Interested attendees are encouraged to register on the event page.

For media inquiries and additional information, please contact David Zell at This panel discussion promises to provide critical insights into the evolving role of digital currencies in the realm of strategic competition and global politics.

- Shinobi
A New Trustless Way to Calculate the Bitcoin Price

UTXOracle is a simple Python script [Attention: direct download link] that takes advantage of a surprising fact about the Bitcoin blockchain – by parsing on-chain data it’s possible to derive an approximate U.S. dollar price.

A graph of UTXO creation over time. Source:

All of this is based on the chart above. The lines on the graph represent Bitcoin UTXOs of certain values.

If you look at the left-hand side at the BTC denominations, you'll see that straight lines match up perfectly. Those represent the creation of UTXOs in exact round BTC denominations. The wavy lines are UTXOs being created with round fiat denominations.

All this is to say that a large percentage of Bitcoin transactions (~15%) create outputs with round denominations in fiat currencies, an obscure data quirk that allows software to make derivative assumptions about the economic activity they represent.

By finding the points where these wavy and straight lines intersect, one can ascertain a point in time when the fiat price of BTC was a round amount, and extrapolate to other points in time.

But while this may sound highly technical, and it is, the immediate result is something useful for every Bitcoiner, especially those who want to harness its decentralization – with UTXOracle, users who run a full node no longer need to rely on third-party exchange price data.

UTXOracle allows you to track the fiat price average solely with on-chain data, not only giving new abilities to Bitcoiners, but to its product builders as well. In short, it’s a big breakthrough we expect to manifest itself further in the years ahead.

Released today after some months of work, I had a chance to ask creator and developer Steve Jeffress a few questions about the project. The following discussion sheds further light on the software he released, and what might lie ahead:

SHINOBI: What gave you the insight into UTXO set amount distributions having this relationship with fiat price?

JEFFRESS: I've been rendering heat maps of the UTXO set for like 8 years now. I've always known the USD price was a clear emergent property of output patterns. I've known I could write the program for several years and finally got around to doing it.

SHINOBI: What are the limitations of the accuracy of UTXOracle?

JEFFRESS: Right now, the limits are $1,000 to $100,000 for the price, and I've only tested it back to July 26th, 2020. It's also dependent on people continuing to transact in round amounts of US dollars.

SHINOBI: What kind of use cases do you see UTXOracle enabling?

JEFFRESS: I'm excited to see what people come up with. I'm happy if it encourages people to do more stuff with their own node. Anything that further decentralizes nodes is a super positive thing IMO. I just want to improve bitcoin.

SHINOBI: Can UTXOracle be gamed or manipulated?

JEFFRESS: Yes, certainly, however it would be costly to manipulate. You might even be able to estimate the price of manipulation. Clearly if this was used to settle contracts, the contracts would need to be far less than some estimated cost of manipulation

[One thing that Steve pointed out is the potential for delayed withdrawals to distort the accuracy of the model to a degree. For example, imagine you buy $50 of bitcoin on Coinbase and withdraw it. This type of behavior is a large driver of the data this model depends on. Imagine now if you buy $50 of bitcoin on Coinbase, but wait a week until you withdraw it. The price will be different than when you purchased it, meaning the on-chain output created will not accurately reflect the round amount in fiat it was when you purchased it.

This type of behavior could throw off the accuracy of the model, which is something to consider during a high fee environment when more people will adopt such behavior. The model could be adapted to account for this as long as larger value transfers that were economical still occurred in round fiat amounts on-chain. An algorithm could properly distinguish between those and lower value transactions that are throwing off the price model and weight the larger value transactions much higher than lower value transactions to account for the distortion.]

SHINOBI: Could this model be extended or made more accurate with other on-chain data?

JEFFRESS: Probably. though i think people should keep in mind trade offs between simplicity, accuracy, complexity, etc. For example, I've written the code to maximize understandability over efficiency. I could import libraries to make it more efficient, but I've chosen not to.

For a deeper dive on UTXOracle, read our feature guide.

- Nik Hoffman
Spot Bitcoin ETF Would Attract $300 Billion: Hedge Fund Director

In a recent video interview on the Paul Barron Network, Mark Yusko, CEO and Chief Investment Officer of Morgan Creek Capital Management, made a compelling prediction about Bitcoin's future. Yusko, with decades of experience in the financial industry, suggested that the approval of a Bitcoin spot exchange-traded fund (ETF) by the SEC could pave the way for an influx of $300 billion into the market.

The interview, which delved into the current state of the Bitcoin landscape and its potential for institutional investment, saw Yusko shed light on the impact that regulatory developments can have on the Bitcoin market.

Yusko began by emphasizing the importance of the approval of a Bitcoin spot ETF in the United States, highlighting that it would provide a bridge for institutional investors to enter the Bitcoin market with confidence. He explained, "Institutional investors have been cautious about entering the crypto space due to regulatory uncertainties and concerns about custody. A spot ETF would offer them a regulated and secure way to gain exposure to Bitcoin."

Bloomberg Senior ETF analyst Eric Balchunas predicated an inflow of about $150 billion coming into the market upon approval, but Yusko thinks there is potential for even more. "I'll go further and say 1% seems more likely. That'd be $300 billion. $300 billion on a $100 billion of free float - price goes up a lot. A lot, a lot," he stated.

There is currently a wave of 10 active spot Bitcoin ETF filings, not including Grayscale's application to convert its flagship fund GBTC into a spot Bitcoin ETF. Among these applicants include the worlds largest asset manager BlackRock, who is "going to fight like cats and dogs to win market share" against the other assets managers once approved, according to Galaxy Digital CEO and spot Bitcoin ETF applicant Mike Novogratz.

Yusko emphasized the importance of the first mover advantage in getting an ETF approved, stating "Whoever is first, is gonna get the vast majority of assets." But he sees BlackRock coming into the market as a complete game changer. Where many of tried and failed to get a spot ETF approved by the SEC, Yusko believes BlackRock will be the first — and maybe only applicant to one approved.

"I believe and I've said multiple times that BlackRock will be the first one. I've actually been saying that for over a year. I actually might even go stronger and say that they'll be the only one approved," he said.

Yusko's optimism is grounded in the belief that a regulated spot ETF would satisfy the due diligence requirements of institutional investors, enabling them to allocate a portion of their portfolios to the digital asset. He mentioned that Bitcoin's maturation as an asset class and its growing recognition as a store of value had already piqued institutional interest.

A spot Bitcoin ETF "will be approved sometime around year end," Yusko believes, whether that be before the end of the year or early in 2024.

- Ben Arc Not Selling It To Shitcoiners

Shitcoiners have fat bags, really fat bags, really, really fat bags. Two weeks ago I put up for sale to see what responses I would get back. I imagined Roger Ver offering to sell bitcoin dot com in 2013, and what would have happened if another player had bought it. I had a few groups of shitcoiners offer to buy the domain (prob to do some Nostr ICO), but yeah, that wont happen. 

My History With Nostr 

Almost 3 years ago I made the first twitter clone on Nostr, and started bugging the Nostr telegram group to buy After a few weeks of bugging I bit the bullet, sold almost 1btc and secured the domain. The domain festered for a few years with a poorly made splash page for Nostr projects. 

At the beginning of this year, with all the much deserved attention Nostr started to garner, it was clear we needed a better splash page. We hosted the excellent site created for by jeffg on the site. To make use of the domain, Fiatjaf was given full reign to host great nostr projects on subdomains of (thank you for that Fiatjaf). Being the most visited site for Nostr, it is clearly a very important gateway for the clearnet folks. 

LNbits, Nostr and Covid 

Those Covid years were a productive period, as well as the creation of Nostr, a few of us, such as Fiatjaf, Eneko and myself created LNbits, an extension based lightning wallet accounts system, which would make it easy to showcase cutting edge bitcoin functionality. While Nostr was bubbling away and great contributors started building clients that actually worked, I focused all my attention on LNbits. Although not having time to develop on Nostr, I shilled the protocol as much as possible, talking about it in popular bitcoin podcasts and doing the first Nostr talk at HCCP in 2021. 

We had a few Nostr LNbits extensions in the pipeline from 2022, such as an easy one click relay, extension for selling NIP05 addresses, the Nostr-market extension (its predecessor Diagon Alley, being one of the influences to the creation to the Nostr protocol), and an always on Nostr-client extension that could multiplex relays and direct notes to different extensions in LNbits (needed for Nostr-market so the merchant can generate invoices without their client being “online”). 

LNbits was always a hobby project. but as the project evolved and was being used in the wild (even by a bank) it made sense to push hard to get the project out of beta. It was also weird that we were creating a useful accounting tool but not using it in a business context ourselves. With the blessing of the community, LNbits core devs created LNbits Inc, a for-profit arm that would help develop LNbits and provide some useful services, such as a one click launch LNbits software as a service (similar to launching WordPress on, a shop for selling all our DIY bitcoin hardware/swag, and a support service for people wanting to implement LNbits in their stack. We were given a pre-seed by the excellent Max Webster from Hivemind Ventures, which meant 6 of us could work on LNbits full time for a year, to create the services and push to get LNbits out of beta. 


All the Nostrcentric LNbits extensions were given momentum with the Nostrenaissance of early 2023, and we were able to get them ready(ish) to unveil at Nostrica, as well as a hardware Nostr signing device created by Myself, Vlad Stan, Fiatjaf and Stephan Snigrev.

It made sense to the development of our Nostr extensions that we used them to offer some services on, similar to what we had done with LNbits Inc, so I planned to give LNbits Inc the right to manage the domain over the next 3 years, to maximize its usefulness, by offering relay services, NIP05 names, and selling DIY Nostr signing devices. 

Before LNbits Inc seed round, and “officially” passing the rights to the company, I decided to float the domain on the market see if there was someone out there willing to buy the domain. Within the first few days some folks reached out, but after some superficial digging it was clear their intentions might not be honourable. I have worked tirelessly for six years on free and open-source bitcoin software and hardware. All the engineers I have worked with during that period are here for bitcoin’s/Nostr potentiality to create greater liberty and freedom. Nostr WILL change our world for the better, and although I believe can be made more useful, it is imperative can not/will not ever fall into corrupt hands. Having a team managing the domain will help that not happen. I am happy to hand control over to LNbits Inc, and am extremely excited to see more wonderful tools/applications being delivered through it. 

Also check out the excellent Nostr-market update.

Pura Vida. Start wearing purple

This is a guest post by Ben Arc. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

- Bitcoin Magazine
Prince Philip of Serbia Leads the Way for Bitcoin Nation State Adoption

In recent years, the world has witnessed a remarkable shift towards digital currencies, with Bitcoin taking the lead. Now, a powerful advocate for this decentralized form of money has emerged in the form of Prince Philip of Serbia. With visionary initiatives he is working on like Jan3 and Aqua Wallet, he is leading the way for Bitcoin nation-state adoption. Let's delve into the various aspects that highlight Prince Philip's role in this global movement.

Understanding the Role of Prince Philip in Bitcoin Adoption

Prince Philip of Serbia is not just a member of royalty; he is also a passionate advocate for the widespread use of Bitcoin. His influence, combined with his knowledge of financial systems, allows him to spearhead innovative initiatives that bridge the gap between traditional governance and the free, decentralized, and digital future he seeks.

Prince Philip's Vision for a Bitcoin Nation State

Prince Philip envisions a world where Bitcoin becomes an integral part of a nation-state's financial system. Through collaboration with governments, he aims to facilitate the adoption of Bitcoin as legal tender, thereby revolutionizing how transactions are conducted and empowering citizens to embrace the benefits of Bitcoin.

Bitcoin can thrive as a legitimate alternative to traditional fiat currencies.

The Connection Between Serbia and El Salvador

While Prince Philip's efforts are global in nature, his focus on El Salvador is particularly significant. El Salvador holds the distinction of being the first country to accept Bitcoin as legal tender, thanks to the groundbreaking legislation passed in 2021. This move has garnered international attention and sparked discussions about the future of Bitcoin in mainstream economies.

Prince Philip's role as a bridge between nations goes beyond Bitcoin adoption. He envisions a global network of interconnected economies, where Bitcoin serves as a catalyst for economic growth, financial inclusion, and cross-border cooperation. His tireless efforts to promote the benefits of Bitcoin are driven by a genuine belief in the transformative power of decentralized finance.

The Impact of Jan3 on El Salvador's Economy

The deployment of Jan3 in El Salvador has the potential to transform the country's economy. By educating and promoting the use of Bitcoin, Jan3 fosters financial inclusion and stimulates economic growth.

Aqua Wallet: A Game Changer in Bitcoin Transactions

Another remarkable innovation championed by Jan3 is Aqua Wallet. This user-friendly digital wallet provides a secure and convenient way to store, send, and receive Bitcoin. With its intuitive interface and robust security measures, Aqua Wallet encourages a wider audience to explore the world of Bitcoin.

Aqua Wallet's Contribution to Bitcoin Adoption in El Salvador

Aqua Wallet plays a crucial role in advancing Bitcoin adoption in El Salvador. By facilitating easy and secure transactions, it eliminates the barriers that may deter individuals from embracing digital currencies. Aqua Wallet empowers Salvadorans to participate in the Bitcoin economy and leverage its potential for personal and economic growth.

Furthermore, Jan3 helps reduce the dependency on traditional banking systems in El Salvador. With a significant portion of the population lacking access to basic financial services, Jan3 is hoping Aqua Wallet citizens globally can use it to help conduct bitcoin financial transactions. This not only empowers individuals but also strengthens the overall resilience of the economy.

The Future of Bitcoin Nation State Adoption

As the movement for Bitcoin nation-state adoption gains momentum, it is essential to consider potential challenges and solutions, as well as the global implications of this shift.

The Global Implications of a Bitcoin Nation State

A successful Bitcoin nation-state would not only impact the adopting country but also have ripple effects worldwide. It challenges the traditional monetary system by offering an alternative that transcends borders and promotes financial sovereignty. This could inspire other nations to explore Bitcoin adoption and reshape the global financial landscape.

In conclusion, Prince Philip of Serbia's leadership in advocating for Bitcoin nation-state adoption is reshaping the future of finance. Through initiatives like Jan3 and Aqua Wallet, he is empowering individuals and governments to embrace the potential of Bitcoin. From his vision for a Bitcoin nation-state to the impact of Jan3 and Aqua Wallet, Prince Philip's efforts are paving the way for a Bitcoin revolution. As the world embarks on this transformative journey, it is crucial to remain vigilant, collaborative, and forward-thinking in our approach to harnessing the power of Bitcoin.

- Daniel Hinton,Steve Jeffress
UTXOracle: A Decentralized Approach To The Oracle Problem

This is an opinion editorial by Daniel Hinton, the head of finance and operations for sFOX, a bitcoin prime broker and custodian, and Steve Jeffress, creator of Bitcoin UTXO set visualizer

We now know how to infer the daily price of bitcoin within 1% by looking only at the unspent transaction output (UTXO) set.

With this, we can build decentralized applications that rely on the UTXO set — rather than on trusted third-party oracles — for the USD price used in discreet log contracts (DLCs) and smart contracts.

The possibilities for decentralized applications on Bitcoin using this “UTXOracle” are enormous.

Source: author When You Want To Know ‘The’ Price Of Bitcoin, Where Do You Look?

There is no single price of bitcoin. Every second of the day, there are thousands of exchanges, brokers, OTC desks, payment companies and other market participants around the world quoting the price of bitcoin — and none of them is always correct.

In this article, we will explore a new way of interpreting the Bitcoin UTXO set that accurately reflects a bitcoin price at each block height and has the potential to serve as the foundation for a new era of trust-minimized, decentralized finance on Bitcoin.

What trust-minimized tools could you build if you could calculate an accurate price for bitcoin at each block height, using only your Bitcoin full node and an open-source model?

DLC derivatives (options, futures, perpetual futures)On-chain lending marketsPeer-to-peer marketplacesBitcoin-backed USD stablecoins on LightningStable-value USD accounts denominated in bitcoinAny use case that requires a USD component

Any one of these concepts, successfully implemented on the Bitcoin blockchain in a trust-minimized way, could deliver tremendous value to both Bitcoiners — utilizing bitcoin for its superior monetary properties — and participants in the Bitcoin ecosystem who need to remain partially tied to USD but want to utilize Bitcoin as their settlement network.

On-Chain Transactions Encapsulate The Global Signal Of Economic Weight

During the 2016 to 2017 “Blocksize Wars,” the merits of not only running a fully-validating Bitcoin node, but conducting economic activity using your node, were convincingly argued in helping the network avoid a meaningful fork that could have delayed Bitcoin’s success.

For purposes of our current discussion, it can be said that this tumultuous time in Bitcoin’s history emphasized that, in the same way that someone can run 1 million “full nodes” on a cloud server that signal for a particular “upgrade” but not influence the network of economic actors in any way if they are not actively settling transactions, centralized exchanges can produce volume and price statistics that, in reality, do not carry economic weight, and which are not reflected in the UTXOs that are settled onto the Bitcoin blockchain.

You can temporarily give the appearance of having more bitcoin than you do within a closed system like an exchange, but as long as there is a credible threat of withdrawal for settlement to the Bitcoin base layer, any mispricing within the closed system will eventually resolve itself back to equilibrium with the external market.

For example, when Mt. Gox was insolvent in 2013 to 2014, but before it officially collapsed, the reported price of bitcoin on the platform was markedly different from other exchanges due to the fact that Mt. Gox did not have nearly as much bitcoin as it claimed. As a result, it needed to entice new users to deposit to the exchange in order to fulfill withdrawals from existing customers. Within the Mt. Gox system, the price could be manipulated, but when users attempted to arbitrage the price back to the market, Mt. Gox collapsed.

In contrast, the Bitcoin blockchain is the hardest ledger in the world to corrupt. It represents the entire history of economic settlement activity to have occurred and is the final arbiter of truth with regard to the status of all bitcoin in existence.

Transactions that matter are settled on the Bitcoin blockchain, not in closed systems. Final settlement is what matters.

UTXOs Are Created And Destroyed Each Time You Move Bitcoin

People have a difficult time grasping Bitcoin, since it’s impossible for them to take a physical coin out of their pocket, point to it, and say, “This is a bitcoin.”

One analogy I’ve gravitated toward when describing a specific amount of bitcoin in a person’s possession is visualizing an individual bill in a physical wallet. These bills can represent any amount and are only good for one use. So, if you need to spend $3, and only have a $100 bill, you can’t rip off a corner of the bill. You would need to spend the entire $100 bill and get your change back. In Bitcoin parlance, each of these bills is a UTXO. Any time you send bitcoin, you are spending (and destroying) at least one UTXO while simultaneously creating at least one new one. If you run any version of the Bitcoin software, at any point in time you can count up all the bitcoin contained in existing UTXOs to determine exactly how much bitcoin currently exists.

In fact, when used together, the Bitcoin blockchain and UTXO set are perfectly accurate in determining the history and current state of the Bitcoin network. This never-before-seen capability in a decentralized system helped the 19 million bitcoin currently in existence grow to be worth several hundred billion dollars.

The Bitcoin software uses units of bitcoin (satoshis) for its internal accounting. While it may be obvious that 1 bitcoin equals 1 bitcoin, this also means that when someone wants to “send $100 of bitcoin,” the participants in this transaction need to agree on the price of bitcoin at the time of the transaction to know how much bitcoin this corresponds to.

On Average, 15% Of All Bitcoin Transactions Are In Round USD Values

Did you know that many people transact bitcoin in round USD amounts? Interestingly, because this is such a common occurrence, there are clearly-recognizable patterns that exist in the UTXO set that can be used to closely infer the price of bitcoin at any point in the past or present (see the chart below).

Imagine that you are buying bitcoin at an ATM (or buying a gift card online). Will you buy $100 worth or $39.27 worth?

Round USD values ranging from $1 up to several thousand dollars are very common denominations in the Bitcoin blockchain. In fact, since 2014, there has been a growing on-chain footprint of these round-USD-value bitcoin transactions which on some days can account for up to 25% of daily outputs created.

The United States has by far the largest installed base of Bitcoin ATMs globally. U.S. Bitcoin ATM operators have grown dramatically since 2019 and the Bitcoin UTXO set vividly displays this market’s growth as more people choose to hold or at least transact in bitcoin over USD.

Also, as seen with clients at sFOX, Bitcoin ATM flows are made of nearly all customer buys (putting cash into an ATM and receiving bitcoin), so the on-chain footprint of this activity consolidates signals at round USD values. Other large bitcoin markets, such as gift cards, peer-to-peer exchanges, and many other, less common use cases, also contribute to this pattern of USD-denominated bitcoin usage.

The Bitcoin UTXO Set As Of Block 772,298

There is only one bitcoin UTXO set at any given block height. This picture depicts the entire, approximately 70 million UTXOs that comprise all 19 million bitcoin in existence, as of block 772,298.

With Bitcoin being truly permissionless, anyone running a fully-validating Bitcoin node has this exact same data on their computer and can independently replicate this exact same dataset for this point in time. A live version of this visualization can be seen and interacted with at


Zooming into the 2022 section of the chart highlights that there are consistent patterns in the UTXO set. We’ll focus on two such patterns: Horizontal lines and wavy lines.


Horizontal lines (the flat lines) represent:

UTXOs denominated in round values of bitcoin (e.g., 0.001, 0.005, 0.01, 1, etc.)Flat at any USD price because sending 1 btc always equals 1 btc

Wavy lines:

Represent groupings of UTXOs denominated in round USD values ($1, $20, $50, $100, $200, $500, $1,000, etc.)Are very wavy, yet parallel to each other because people send in many USD denominations and these denominations all move in proportion to each other as the BTC/USD price changesMove inversely to price. BTC/USD price increases cause the wavy lines to slope down since it takes less BTC to equal a USD value as price moves up and vice versa.Making Sense Of The Lines

The fact that horizontal lines exist isn’t all that impressive. People transacting in bitcoin often transact in round amounts of bitcoin.

But the fact that the wavy lines exist clearly and consistently is a big deal. It means that, given an open-source model, this could help bring about the ability to:

Independently calculate the price of bitcoin using only your full node at any block heightDevelop genuine DeFi applications without the need for (or without sole reliance upon) trusted third-party price oraclesThe UTXOracle Price Model Has Native Logic Checks

How can you easily test the hypothesis that the wavy lines represent movement of bitcoin denominated in USD? Simply pick a date when you know the BTC/USD price crossed a round USD value and see if the horizontal and wavy lines cross.

One such case is July 27, 2020. Bitcoin was recovering from the March 2020 mayhem and crossed over $10,000 per BTC.

The image below shows the wavy line (USD) crossing down below the horizontal line (BTC) at the same time that the price rose above $10,000 per BTC. This particular image is the 10,000 sat (0.0001 BTC) line, but the same pattern exists at many other BTC denominations as you progress up the UTXO chart.

On July 27, 2020, the bitcoin price increased past $10,000. Source.

Still don’t see it? Zoom in and explore a high-resolution image at

Mr. Pitt from “Seinfeld,” “I don’t see it.” Source.

Clearly, the wavy lines on the chart show transactions denominated in USD.

This has enormous ramifications, since the wavy line pattern exists in varying degrees in every block, and is extremely consistent over rolling periods such as every 144 blocks (roughly 24 hours).

The UTXOracle USD Bitcoin Price Is Quite Accurate

Seeing the horizontal and variable lines cross at round USD values is nice, but a majority of the time, the lines are not very close to one another. We need a way to prime a pricing model from these crossing points that will infer an accurate, current price at any block height after the model is primed.

Enter the UTXOracle model.

In this preliminary model, an input date of July 27, 2020, a day when bitcoin rose above $10,000, is used to prime the model to a best fit for that day’s price. Using only this single day’s UTXOs, and an input of that single day’s volume-weighted average price (VWAP), we are able to create a model that, when used with a future date’s UTXO set changes, infers the daily price of bitcoin with remarkable accuracy from this day forward, utilizing only the Bitcoin UTXO set with no reference to any external price data after July 27, 2020.

The red line is the daily VWAP from sFOX, an aggregator whose price encompasses the filled trades from dozens of exchanges and OTC desks.

The blue line is the UTXOracle daily price calculation based on each day’s UTXO changes.

Source: author

For the measurement period of July 2020 to January 2023, the model performs exceptionally well, with daily median and daily average variances between the actual VWAP and the UTXOracle price of 0.65% and 1.04%, respectively, both of which are within the normal range of fees charged for bitcoin purchases at retail exchanges.

It’s been said that all models are wrong, but some models are useful. One key difference between the UTXOracle model and other models that output a bitcoin price is that the UTXOracle model does not seek to predict a future price. It merely attempts to infer an accurate current price based on recent blocks and corresponding changes in the UTXO set. Given that the current model has also not been fine tuned for a best fit and simply uses a single primer date for its input, the model is clearly wrong — hopefully it can be useful.

The UTXOracle Model Has Trade-Offs

If Bitcoin has taught me anything, it’s that trade-offs exist. The UTXOracle model is no different.

The Bitcoin UTXO set is a beautiful, living monument to the human spirit but try as we may, any model created from it will not fully encapsulate the entirety of the underlying activity which it represents. A map cannot be as accurate as the territory it represents.

The UTXOracle model relies on several concepts to function correctly:

Bitcoin UTXO data (free and widely-available data accessed by running a full node)Bitcoin price data to identify a time or series of times upon which to prime the model (based on free and widely-available data)A model to apply the primer date(s) generally to any date (there are many ways to optimize this)A way for users of the UTXOracle output price to utilize the price in DeFi applications (this needs significant effort to develop)

People may create UTXOs at amounts that would mimic the price being another level than reality.

On centralized venues, people have been known to “spoof” large buy or sell orders in an order book to make it seem as though there is a large buyer or seller in the market, only to later remove these buy/sell orders without actually having any trades filled. This can actually move markets on centralized venues, but you cannot spoof UTXOs. They either exist in a mined block or they do not.

It takes a long time to create a fake price signal and it’s obvious when someone tries to do so.

Currently, it looks as though using a daily UTXOracle signal, rather than a single block interval, achieves a price accurate enough to use in practice. This approach has the added benefit of greatly increasing the cost of attack in mimicking or censoring transactions which would be most useful in producing the UTXOracle price at any certain time.

Even if someone created many UTXOs at levels mimicking a different bitcoin price, there is no mechanism to remove the real transactions that reflect the accurate price. At best, an attacker would create an additional set of wavy lines.

UTXOs are expensive to fake. There is no such thing as “spam” in the Bitcoin blockchain. There are only transactions that pay a fee to be included in a block. This means that blockchain data is expensive to produce or censor and there is a real cost of capital in creating UTXOs to fake a price signal.

Current model accuracy diminishes after about two years, as is visible in the chart. In practice, it’s likely that a model will need to be recalibrated after some period of time. Changing the model to take into account different UTXO patterns carries much less risk than changing consensus rules in Bitcoin. Unless participants are transacting in multi-year options/futures contracts on chain, this is likely not a meaningful barrier to use.

The current model does not deal with extreme volatility well. Mempool variations and price volatility create situations where the UTXOracle price can temporarily vary from the centralized exchange price by more than 10%. While this can likely be improved upon with a more comprehensive model it does highlight a potential serious limitation of the practical use of the model. 

Then there is the AI echo chamber problem: If the model is very successful, it may become less effective. In a world where many people are settling economic activity using the price inferred by a UTXOracle model, there will be many additional UTXOs settled in round USD values. These UTXOs may diminish the model’s accuracy or distort it in other ways similar to how a large-language model (LLM) trained on LLM-generated content will not match the effectiveness of one trained on human-generated content.

Using A UTXOracle Model In Practice

Love it or hate it, you know the word “Ordinal.” Ordinals taught me that people can coalesce around a methodology of interpreting the UTXO set that is technically external to Bitcoin, but which can be solidified at the social layer as an additional protocol on top of Bitcoin.

It is my hope that a sufficiently-accurate UTXOracle model will be produced by someone which will allow people to use that version of the model as a schelling point in building decentralized applications on Bitcoin.

It is my further hope that Bitcoiners can develop a method of using these one or more competing models in a trust-minimized way to expand how Bitcoin is able to bring financial peace to the world.

A successful implementation would be one in which:

Model inputs are publicly known and outcomes are verifiableDLC participants can contest fraudulent outcomes by calculating their own price using the model inputs. (An elegant solution to this issue remains an unsolved challenge.)

And one in which any of these security models is possible:

Peer to peer: Two or more ordinary participants can utilize the UTXOracle model without third partiesVerifiable, centralized oracle attestations: A centralized oracle signs a message with a particular UTXOracle pricing model that the oracle will use and participants are able to verify outcomes and punish wrongdoingUTXOracle as a quorum member: Use the UTXOracle price as a logic check in a traditional, centralized oracle model or in a two-of-three or three-of-five multi-oracle setupUTXOracle Use CasesDLC Derivatives (Options, Futures, Perpetual Futures)

This would enable users to buy or sell contracts in an open marketplace where outcomes are administered by participants using a UTXOracle price.

For example: Alice deposits an amount of bitcoin to a DLC-governed address. Bob pays Alice an amount of bitcoin denominated in USD (as evidenced by the UTXOracle price). At the time of settlement, Alice or Bob may produce a signature from an oracle attesting to the price calculated under the UTXOracle model to determine the settlement flow of funds as expired or exercised.

On-Chain Lending Markets

Users can borrow or lend in an open marketplace where the loan life cycle is administered by participants using a UTXOracle price.

For example: I have 1 BTC (at a $100,000 value) and want to take a partial loan of $30,000 without selling my bitcoin. I can coordinate with a market-maker to deposit my 1 BTC and the market maker’s 0.3 BTC (at a value of $30,000) to an address governed by a DLC. Upon funding, I may spend the 0.3 BTC for my desired use case.

Normal Loan Repayment

In this use case, the borrower has the option to sign a transaction granting the market maker $30,000 in value of the original 1 BTC or to deposit $30,000 in value (as evidenced by the UTXOracle price) and withdraw the original 1 BTC.

Upon liquidation, if the value of the 1 BTC in the DLC-governed address falls to somewhere near $30,000 (as evidenced by the UTXOracle price), the market maker can sweep out the entire 1 BTC to liquidate the loan and recoup their principal.


The UTXOracle model also offers an interesting use case around “stablesats,” referring to bitcoin-backed USD stablecoins or stable-value USD accounts denominated in bitcoin on Lightning.

For instance, imagine that you want to hold $1,000 worth of bitcoin for the next month. You do not want to or cannot hold the $1,000 in cash, at a bank, in Ethereum- or Tron-based stablecoins or on an exchange. You could enter into an agreement with a market maker on the Lightning Network to stream the daily net price change in value to you. You would be able to independently validate that the correct amounts are being paid by using the UTXOracle model you agreed to. At the end of the month you will have a different amount of bitcoin in your Lightning channel, but it will be worth $1,000.

Peer-To-Peer Marketplaces

As a seller in an online marketplace, it’s currently difficult to price items in bitcoin due to the volatility as well as the fact that your expenses are likely in USD. But accepting payments in USD means accepting chargeback risk, fraud and the fees and complexity inherent in modern payment systems. Pricing products in USD, but having the flexibility to accept a USD value in bitcoin via the UTXOracle model, could encourage more bitcoin-denominated commerce.

The Next Steps For UTXOracle

As outlined in this article, I believe the UTXOracle model could be a powerful tool in advancing Bitcoin use cases and extending financial freedom to more of the world. While it has trade-offs, I believe it represents an exciting frontier that can improve upon existing solutions that require more trust in third parties.

If you are excited about the prospect of UTXOracle, I encourage you to join the discussion on Telegram and Twitter.

This is a guest post by Daniel Hinton and Steve Jeffress. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

- Reed Macdonald
Bitcoin Price Up 20,000% Since First Joe Rogan Mention

Ten years ago this week, Joe Rogan, the world's most popular podcaster, mentioned Bitcoin, a first in what has been an off-and-on theme of his programming ever since.

As noted by Bitcoin Historian Pete Rizzo today, September 24 marks the anniversary of Joe Rogan's interview with libertarian philosopher Stefan Molyneux, aired in 2013. In a wide-ranging conversation, the two discussed topics ranging from atheism to fiat currency, the later topic being the frame in which Bitcoin was discussed.

Addressing the subject of failed government money, Molyneux mentioned that fiat money actually has a relatively short history, with the truth being that most government monies lose value and collapse.

"[There have only been] 240 different paper monies. Some government issues some bullshit currency, and then it blows up, then they issue some new currency, and there’s only one of them that’s still in circulation – the British pound, which has lost like 97% of its value. The dollar has lost 98% of its value," he said.

Molyneux went on to discuss how empires like ancient Rome struggled and ultimately collapsed due to inflation, prompting Rogan to remark: "Can we bitcoin our way out of this?"

It's a question that is arguably even more relevant today.

According to data, Bitcoin has surged by a staggering 20,000% since its first mention on the Joe Rogan Experience podcast. At the time it was trading a global average price of roughly $120, making Bitcoin one of the most lucrative investments that Rogan could have made during this period.

Ever since, the Joe Rogan Experience has become an influential platform in the world of podcasting, with Rogan inking a multimillion-dollar deal with Spotify in 2021. 

Since then, Rogan has discussed the topic with guests like Andreas Antonopoulos, though some fans have shown dismay that he has yet to dedicate a full episode to the topic, or invite popular personalities like Michael Saylor or Saifedean Ammous who can expand on the topic with the full learnings of the technology's history.

As the cryptocurrency landscape evolves, it remains to be seen how Bitcoin's journey will unfold, but its first mention on the Joe Rogan Experience podcast will undoubtedly be remembered as a milestone in its history.

- Shinobi
Readers React To Drivechain Incentive Concerns

Shinobi’s Strawman is a weekly series where our Technical Editor Shinobi challenges the Bitcoin community, aiming to stir up conversation around heated technical debates.


Here is part two of the experiment. Last week I published a short prompt challenging readers to respond with their own defense or criticism of drivechains. The purpose of this was to instigate challenges to my own criticisms, questions, or even new criticisms I have not thought of or considered. Written form content is generally more thorough and easier to digest than real-time communication, as both parties have time to sit and think before formulating a response as opposed to needing to do so immediately. I think this can help to change the tone of conversations around contentious topics by trying to facilitate them in this format.

So that said, time to go through the responses to last week's prompt.

Paul Sztorc

Paul Sztorc responded in long form on Twitter, the entirety of which can be found here. For formatting clarity in quote snippets, bold text is denoting which of my statements Paul is responding to.

> 1) Drivechains introduce a hodgepodge of new variables into miners’ incentives ... Drivechain is comparable to RIOT's use of "power curtailment credits". It is just a new way for miners to make money. When I'm asked: "does drivechain affect miner incentives?" I say "no". I personally lived through the invention of: FPGAs/ASICs, heat-reuse, stranded natgas flaring, curtailment credits, and a whole lot else. Merged mining was invented by Satoshi in 2010, and is already in continuous use -- . Same with the withdrawals -- miners do plenty of nice things, such as MASF activate soft forks or hold peoples mistaken fee money ( ), or hire Bitcoiners to shill Bitcoin. So, to someone like me, getting revenues from merged mining, or overseeing 4 fully-automated withdrawals per sidechain per year, doesn't even register as a change. It's just business as usual.

Paul claims that power curtailment agreements are equivalent to the centralizing pressures of drivechains. This is a broken comparison for a few reasons, first of which is the wild difference in terms of scale. Something like operating infrastructure for drivechains, or the proportional advantage of pool size in doing so, runs on economies of scale. The larger an operation engaging in such a behavior is the more of a global advantage it gives them. Power curtailment on the other hand doesn't, it has diseconomies of scale. One mining operation engaging in power curtailment on Texas's grid has no impact at all on miners connected to another grid being able to engage in similar agreements. Combine this with mining actively being used to expand renewable energy production, which creates the need for these curtailment agreements, and the entire dynamic over time is guaranteed to decentralize and become more and more open to other miners. Also, the claim that miners being put in absolute control of custodying other people's funds and decide which withdrawals to process (somehow without knowing the current balances of legitimate users) is no change in their role is just patently false.

> 2) Existing Sidechains Have No Adoption Wait!? I thought sidechains were going to change miner incentives?? Not if they have "no adoption". 😉 Anyway... RSK/Liquid are federated, and the federated model is terrible. "federation vs PoW", is literally the only difference between Bitcoin (a success) and its failed predecessors. We can similarly expect BIP300 to outcompete Federated. Furthermore, they aren't even in the same league. Liquid does not provide us a website (for example) where we can paste in (for example) the zCash Altcoin source code, and get out of that a zCash federated sidechain. Instead we are stuck with just one piece of closed source junk that we cannot modify. That misses the entire point of sidechains. Comparing RSK/Liquid to Bip300 is comparing two handwritten books to the printing press. Liquid was completely closed source until very recently; no one knows who the federation members are (despite the model relying solely on their reputation); all of the Liquid txn fees go only to the corporation that created it. For a while (and still to this day, in my opinion), Blockstream engineers could abscond with the funds if they actually put five man-hours into it (see ). RSK aspires to be a drivechain -- so I have their vote, at least. They agree with me that they should be a drivechain, not federated. Finally, the fact that we have failed to build things that the end-user enjoys? That should only spur us onward, to invent new things. Not give up faster.

I don't know what to say here…essentially every claim here is false. Liquid/Elements the platform has always been entirely open source and possible to modify, only the code the federation members run to sign blocks and withdrawals was closed, but that is now open source. Paul pretending and trying to imply the entire project was closed source is not true. As well, the claim that "five man hours" could steal all of the funds is entirely false. The incident that he is referring to was a bug (that has been patched) in the federation member code. All Liquid coins have a timelocked recovery path using a 2-of-3 keyset in the event of catastrophic key loss by federation members that would result in all funds being lost. In order for these keys to be used, the Federation must fail and cease moving these UTXOs. That is not "five man hours" of work as Paul claims, it is attacking a globally distributed set of HSMs that are incredibly robust to remote attacks and almost certainly require physical access to compromise.

> 3) Drivechains Exacerbate The Risks Of MEV > MEV is something that is possible on Bitcoin already ... but ... Drivechains open the door to arbitrarily complex forms of MEV on sidechains, MEV = "miner side hustle". In other words, if I offer Foundry $20 to shine my shoes, then that is MEV. If Slush Pool sells t-shirts on the side, then that is MEV ( spoiler alert they already do: ). Miner's main hustle is ordering transactions and blocks -- anything else they do, is a side hustle. Obviously we don't want the two hustles to conflict! I addressed such "cross chain MEV" long ago, in 2016, long before anyone had ever heard of shinobi (or MEV) ( ). I designed Drivechain to have something called "categorical control", to *defeat* cross chain MEV ...unlike for example Blockstream's simplicity which I believe could exacerbate it (see Part 5 / code obfuscation ; or see for more). Truthfully though: MEV is a distraction. Could a smart contract pay miners to reorg, or censor txns?? Yes. But a human, could also bribe a miner to do those things. Ultimately it comes down to: $ from txn fees, vs $ the attacker pays. Best way to help miners is to make sure they are rich -- collecting lots of $ from the "main hustle". Ie lots of merged mining.

I don't know what else to say except that Paul continues to make absurd and extreme arguments here. Selling t-shirts requires new equipment, new services, new investments, whereas reusing your mining hardware doesn't. A miner picking up a penny on the ground does not have any relevant impact to miner income or incentives, whereas someone offering miners $10,000 a week to reuse their hashrate for a new purpose does. Comparing the two is absurd.

These are in reference to my reply to his previous article. I stand by everything in that reply! > ...these just shove the liquidity requirements onto yet another party, assuming they will provide massive amounts of liquidity for almost nothing in return Both halves of this are wrong. First, on the L1 side of the trade, nothing is locked up -- EVERY coin on L1, is already "providing liquidity" (in this context). Second, they certainly don't get nothing! They charge a fee. The model would be: "buying 1 sidechain coin, for 0.99 L1 coins" (for example). > don’t think it's a foregone conclusion that enough liquidity to cover the “solution to the security budget problem”

I think Paul here is oversimplifying what is going on, and ignoring the dynamics of arbitrage, which is what is happening here. Yes, in an ideal scenario, all mainchain coins are available to swap for sidechains, but in reality that is not the case. That assumes everyone thinks drivechains are equivalently secure to the mainchain. In reality, there is a security and risk difference, and people engaging in this arbitrage are bearing that risk on behalf of people they swap with. Most Bitcoiners are not taking their bitcoin and arbitrage trading for yield with it, they just hold it. That won't magically change because of drivechains, and ultimately the people doing this arbitrage need to get the coins they have swapped into drivechains back out to the mainchain to close the arbitrage loop. This simply shifts that bottleneck directly from sidechain block constructors to arbitrage traders. Also at the end of the day, this adds another cut someone else is taking from the fee sharing, and is a margin that miners can capture by running a sidechain node themselves.


Anon idBrain on X (Twitter) posted the question what would I do if drivechains were activated. Well, in most situations nothing. A URSF (User Resisted Soft Fork) trying to go up against the entire ecosystem would be mostly futile, i.e. if most users, businesses, and miners all supported activating the proposal. If only miners activated it, with no users or businesses worth mentioning enforcing it, it might be worth it to continuously propose withdrawal transactions, looting the sidechain and paying it all out to miners. If 51%+ of miners defected from enforcing the rules all drivechains could be looted with no time delay in a single block. If it did successfully activate with wide support though, I would probably cease looking at Bitcoin as something that could realistically stand up to state and alter the dynamics of money and state. It would be simply a fiat denominated investment to me at that point on the road to state capture.

Mister Ticot

Mister Ticot sent in an email a question: 

You mentioned sidechains arn't being used and are only federated. What about Stacks? Doesn't it qualify as a permissionless side-chain with some level of success?

I would not qualify or describe Stacks as a sidechain at all. I would call it a para-chain, or a parasite chain. Stacks is an independent network with a native base token different from Bitcoin, and as such I do not qualify it as a sidechain. It interacts with Bitcoin in a similar way, and by that virtue can influence Bitcoin miner incentives, but it is not built on a foundation of BTC as the core native asset, which I think is the main requirement for a secondary blockchain to be considered a sidechain.

Micah Warren

Micah Warren wrote in an email: Responding to your call to stir up technical conversation.

Responding to your call to stir up technical conversation.

My understanding is that the huge unavoidable havoc-wreaking problem with blind merged mining is that it's trivial to obtain as many blocks as you'd like simply by outbidding other 'miners'. It quickly degenerates into a bluffing/signaling game. It also create situations where you can create massive MEV opportunities by committing to longer reorgs, in addition to short term plays like fee-sniping. In proof of work, if someone tries to perform a longer reorg, the honest miners (provided there's 51%,) can just default to the same thing they always do. However in BMM, once you commit to winning the auction to carry out your shenanigan, there is no default mode that honest miners can retreat too. All bad stuff. In my opinion, this makes BMM not really a serious consensus mechanism.

HOWEVER, it probably can be fixed- you just have to slightly think outside of the PoW box.

Here's the thing, because the map from SC blocks to L1 blocks is injective, we obtain a linear, sequential, total ordering of all candidate sidechain blocks. So really, we're 99% of the way there as far as consensus goes - we've narrowed it down from trillions of possible blocks to a small discrete handful of candidate blocks and these blocks come with a clear total ordering. The only thing wrong with taking the first block at height N to be the canonical one is that such a block at height N might not be valid. So all you need is a simple mechanism to determine, within a short period of time, whether the block at height N is correct or whether it should be discarded. Clearly invalid blocks will eventually be discarded, the only question is how to enforce a time limit so that someone can't maliciously withhold a block for a long time in order to jam up consensus.

This doesn't seem like a hard problem. One solution: You could simply declare a jury of community-trusted sidechain nodes, say 5 of 9, who would wait 20 seconds after the block is mined, and if they can validate the underlying block, they say it's good, it's now in the canon. If they can't see the block or can't validate it, they declare it invalid.

Now the 20 seconds is arbitrary, the jurors are just calling balls and strikes, there doesn't need to be a correct answer - the only thing is that 21 seconds after the last L1 block has been mined, sidechain miners now know for sure whether to mine a new block or on top of the old one.

Problem solved. The only drawback (laser-eyed maxis might want to ear muff for this), you have to rely on something other than proof of work to resolve rare consensus disputes. Of course, such disputes would almost never happen, because the only reason they would happen is if an adversary was trying to create a schism point, and by breaking the tie instantly, you are obviating the schism point.

Of course what happens on a sidechain is the sidechain's business - but if I could argue that the best design of a sidechain would always involve some reorg protection, then all the concerns about chaotic reorging forcing the L1 miners to enter the game are no longer valid.

In response to this observation, I would say a different potential solution that is superior would be a Zero Knowledge Proof of correctness for commitments to new sidechain blocks. However, I think solving this issue undermines one of the core goals of drivechains architecture: to not introduce new reasons or incentives for miners to reorg the mainchain to accomplish a reorg on a sidechain. Micah's proposal for federating validity attesting to sidechain blocks would create the same incentive, but additionally ultimately backstop the entire trust model of the sidechain with a federation. I.e. nothing would be considered valid without the attestation of those chosen arbitrators. This defeats the purpose of drivechains design, which is to have miners fill the role as the ultimate backstop in the trust model.

Alright, so that is it for this week's Strawman. Next week I will try to be more triggering. 

- Willem Schroe
Bitcoin vs Ethereum: A Culture War Rooted in First Principles

Bitcoin and Ethereum, despite acting as twin forces for accelerating and adopting cryptocurrencies and blockchain technologies, have historically been at odds with each other due to the “L1 wars” and their vocal online proponents. To some, the rivalry may seem like a mere culture war within the crypto community. However at its’ root, it's a reflection of distinct foundational beliefs resulting in divergence.

Let's delve deeper into these foundational beliefs:

Bitcoin: A Beacon of Decentralization (and Liquidity)

Bitcoin was designed to challenge traditional financial systems, presenting an alternative that removed the need for intermediaries. The support base resonates with this aim, and thus places decentralization as its’ primary criterion.

An example of this commitment was the blocksize war between 2015 and 2017 where small blockers prioritized decentralization over scalability. Small blockers were adamant about not compromising on Bitcoin's decentralized nature, even if it meant limiting its scalability. Proponents of increasing the block size counter argued that it would help scale the network, reduce transaction fees, and improve Bitcoin's ability to handle more transactions per second. Ultimately, the block size was not increased through a hard fork, as some big blockers had proposed. Instead, Segregated Witness was implemented via a soft fork, which improved transaction capacity with a one time blocksize increase that isn’t repeatable with the same mechanism. The result was a monetary system devoid of central control.

Bitcoin also continues to be the largest single cryptocurrency by market capitalization, valued at ~$500B, and representing ~50% of overall crypto liquidity. It has benefited from increased asset hardness due to its high stock-to-flow ratio, which is second only to gold. Its increasing prominence in global markets has led to discussions positioning Bitcoin as a reserve currency, as one of the main factors of “the stealth erosion of dollar dominance.” Due to Bitcoin’s features and form factors, it will continue to play a major role in crypto, and this liquidity should be further potentialized beyond a unit of value.

Ethereum: The Utility Vanguard

“EVM is now becoming an enterprise standard and the connectivity tissue between blockchains. Even the most ardent detractors of EVM have now invested in compatibility.”

Nitin Kumar, zBlocks

Ethereum, while sharing the broader ethos of cryptocurrencies, emphasizes utility. Its proponents assert that the intrinsic value of a currency is closely linked to its practical applications. This philosophy is reinforced by Ethereum's extensive array of decentralized applications (dApps). These decentralized applications play a vital role in generating value within the Ethereum ecosystem. As these dApps facilitate various functions and services, they contribute to the overall utility of the Ethereum platform. The enabling foundation for dApps and smart contract functionality is the Ethereum Virtual Machine (EVM), where all Ethereum accounts live.

Recently, there has been a growing movement towards “the inevitability of EVM,” due to interoperability, security and developer efficiency. With the large ETH developer community behind the converging EVM standard, more and more protocols are migrating to the Ethereum ecosystem and building bridging mechanisms to facilitate interoperability. Hence, real world applications need to center EVM compatibility to leverage the largest developer community.

Beyond Bitcoin and Ethereum: The Diverse Crypto Landscape

The world of crypto is however far more nuanced than just these two players. The broader ecosystem captures an array of beliefs and preferences. Take Monero, for instance. This cryptocurrency is a haven for those seeking privacy, offering one of the most private transaction systems available. Conversely, the Solana blockchain, with rapid transaction times and scalability, is superior to those for whom transaction speed is paramount.

All these schools of thought have merit and don't necessarily conflict.

Layer 2s: Bridging the Gaps

“However, the more usage of cross-chain bridges and apps there is, the worse the problem becomes…cross-chain activity has an anti-network-effect: while there's not much of it going on, it's pretty safe, but the more of it is happening, the more the risks go up.”

Vitalik Buterin, Ethereum Foundation

In our current multi-chain crypto ecosystem, market solutions leverage EVM compatibility through bridging mechanisms. However, cross-chain bridging results in the compounding of security issues as well as risks of centralization. Assets held in bridges would be vulnerable to attack, and the increased interconnectedness could result in system contagion. In contrast, a layer on layer approach maintains the integrity of the security of each layer, while minimizing interconnectedness.

A Convergence of Visions

Despite ideological differences, it is increasingly possible for Bitcoin and Ethereum to come together. Ethereum's EVM is responsible for powering decentralized applications and can coexist in the Bitcoin realm through initiatives like Botanix. Bringing a decentralized EVM sidechain to Bitcoin could create a space where both flourish.

Botanix exemplifies this vision, functioning as a decentralized layer 2 EVM integrated with Bitcoin. Learn more about it at:

This is a guest post by Willem Schroe. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

- Reed Macdonald
Rare Video Surfaces of Bitcoin Pioneer Hal Finney Speech at Crypto Conference

A previously little-seen video of the late Hal Finney, a pioneering figure in the world of Bitcoin, has surfaced, shedding light on his groundbreaking work on cryptographic protocols, and giving a rare glimpse of his humanity.

In the video, recorded at the Crypto 98 conference, Finney is seen discussing zero-knowledge proofs, offering a glimpse of how many of the cutting-edge concepts still being tested for Bitcoin, are in fact, decades old.

"I want to prove to you that I know a message that hashes to a given hash value using the SHA-1 hash. I don't want to reveal anything about the message to you. It's a zero-knowledge proof, and I've written a program to do this that I'll tell you about," Finney says in the introduction.

From there, he proceeds to outline his motivation for this project, which was to explore the efficiency and practicality of zero-knowledge proof systems, particularly in handling complex and irreversible algorithms like SHA-1. 

By selecting SHA-1, a notoriously intricate cryptographic hash function, Finney aimed to create a benchmark for evaluating zero-knowledge proof systems' capabilities. He then highlights the zero-knowledge proof system he employed, based on the work of Cramer and Ivan Damgard, which had been presented at a recent conference. 

Still, what has struck most commentators, including noted Bitcoin Historian Pete Rizzo, about the video was the rare glimpse of Finney himself. 

Passing away in 2014 from complications with ALS, Finney is often depicted as he was after the launch of the Bitcoin project, needing the help of medical equipment in order to talk to others or even use a computer. 

Because of this, reactions to the video were sometimes emotional. Finney is, after all, known to have worked with Satoshi Nakamoto on implementing the code for Bitcoin, something he did after the white paper was first announced on the cryptography mailing list in November 2008.

All in all, this rare video offers a glimpse into Hal Finney's pioneering work, showcasing his dedication to pushing the boundaries of cryptographic protocols and laying the foundation for future innovations like Bitcoin.

- Bitcoin Magazine
Helping Union and Firefighter Pensions Save for Retirement with Bitcoin

Retirement savings have always been a priority for hardworking individuals, especially those who belong to unions or serve as firefighters. These individuals dedicate their lives to protect and serve their communities, often putting their own safety on the line. Ensuring that they have a secure financial future is just one way to show appreciation for their commitment. Enter Dominick Bei, a visionary entrepreneur who has revolutionized retirement savings for union and firefighter pensions through the concept of Proof of Workforce.

Understanding the Concept of Proof of Workforce

Proof of Workforce is a non-profit helping workers, unions, and businesses with education-based Bitcoin adoption, with an. iInnovative approach to retirement savings that capitalizes on the unique skills and expertise of union members and firefighters. It recognizes the value of their labor and the stability of their careers, using these attributes as a basis for investment and growth.

Union members and firefighters play a crucial role in society, dedicating their lives to serving and protecting others. Their hard work and commitment deserve recognition and rewards, not just during their active years but also during retirement. Proof of Workforce acknowledges the importance of their contributions and provides a platform for them to build a secure financial future.

How Proof of Workforce is Revolutionizing Pensions

Proof of Workforce brings a new level of financial empowerment to union members and firefighters' retirement savings. It removes the barriers of traditional pension plans, which often limit investment options and restrict access to funds. With Proof of Workforce, individuals have greater control over their retirement savings by having the ability to invest in Bitcoin.

Furthermore, Proof of Workforce promotes financial education and literacy among its participants. It provides resources and support to help union members and firefighters make informed decisions about their retirement savings. By empowering individuals with knowledge and understanding, Proof of Workforce aims to create a community of financially savvy retirees who can navigate the complexities of the modern financial world.

Bei's Vision for Union and Firefighter Pensions

Bei's vision for union and firefighter pensions goes beyond just improving investment options. He envisions a future where retirement savings become a tool for financial education and empowerment. Through his initiatives, he aims to educate pension participants about the potential of Bitcoin, empowering them to make informed decisions about their financial future.

Potential Long-Term Effects of Bitcoin Investments

The long-term effects of Bitcoin investments in retirement savings are yet to be fully realized. However, proponents argue that the potential for significant returns can drastically improve pension funds' overall health. Higher returns mean increased stability and potentially greater benefits for pension recipients, ensuring a dignified retirement for those who have dedicated their lives to public service.

In conclusion, Dominick Bei's groundbreaking concept of Proof of Workforce combined with the rise of Bitcoin investments has ushered in a new era for union and firefighter pensions. By embracing this innovative approach, pension participants can take control of their financial future, while Bitcoin ensures transparency and security. As the intersection of Bitcoin and retirement savings continues to evolve, individuals and institutions alike must carefully navigate the risks and rewards to shape a brighter future for retirement planning.

- Michael Finney
Introducing RFK Jr. to Bitcoin’s Nashian Orientation
The Bitcoin-Backed Dollar in Dialogue 

In July a bitcoin-related topic was broached by Robert Kennedy Jr., which to my knowledge has not been addressed by anyone holding the top office of the executive branch or a notable candidate for the position of President. Of course, John Nash’s Ideal Money is a perennial topic, one I have explored conversationally in the past. It can be a controversial and divisive position, just like other opinions RFK Jr. holds, with a few proponents endorsing even more radical thoughts than the common consensus. How meta…

But to contextualize the totality of what RFK Jr. said regarding a Bitcoin-backed dollar requires us to do a little homework. Luckily, Bitcoin Magazine’s Editor-in-Chief Mark Goodwin has done a lot of the informational legwork for us in a piece he published in 2021.

“I had understood the concept of the Nash equilibrium in regards to Bitcoin for a while, but it wasn’t until 2021 that I got really into his work and decided to read all his papers. Ideal Money was introduced to me by a couple of gentlemen on Twitter who had been writing about Nash and Bitcoin for years, Jal Torrey and Jon Gulson. I know the ultimate monetary showdown is between the U.S. dollar and Bitcoin, and the Ideal Money concept really outlines an articulate path forward for monetary policy and inflation targeting as political and apolitical money collide. Money is just a technological tool for bargaining, and no one understands the axioms of bargaining better than John Nash. I recommend reading The Essential John Nash by Kuhn and Nasar, Parallel Control, as well as the various iterations of his Ideal Money lectures to begin to grok the Nashian Orientation.”

Mark Goodwin - Editor-in-Chief of Bitcoin Magazine

In the past, we covered the concepts of inflation, Nash’s Equilibrium, and Breton-Woods with enough depth to point to these conversations as milestones along the path to giving Ideal Money the attention it deserves.

So why is this concept important now?

Motion images created via Pika Labs 

The Asymptotic Approach to a Beautiful Mind

Well, there are plenty of cultural and social angles but I think an important one regarding productivity and value erosion is the international uncoupling of gold and the US dollar that occurred during the Nixon administration.

While not all of the zealots advocating for the ideas in John Nash’s final white paper agree on how to interpret everything in the eight total pages, it is a short read and you are welcome to make your own conclusions about it.

One constellation that is critical to grasp is how a “basket of goods”, referred to by the International Monetary Fund (IMF) as “special drawing rights” (SDR), is fairly congruent to Nash’s Industrial Consumer Price Index (ICPI). Let’s keep this simple: imagine a scale. On the left side is an amount of fiat currency of your choice, on the right, is a collection of goods, assets, or commodities (I use these terms very loosely) in all the various combinations you can imagine that would be equivalent to the dollars on the first side at a given rate that is publicly recognized. The right side could even be a collection of currencies. There are those that believe Bitcoin is enough in itself, operating as both the fulcrum and the right side of the scale. This implies an understanding of token mining and, by extension, the value of energy - I am unqualified to expound on this in a way that I believe is satisfactory so I will leave that topic to those more experienced and more knowledgeable about the idea.

“The ICPI concept was used by Nash to illuminate a vector of quality for money we can dub ‘Idealness'. The asymptotically 'ideal' nature of Bitcoin derives from the apolitical and invariant nature of the cost to produce a valid block. Bitcoin is asymptotically (rather than perfectly) ideal because it (self-)adjusts the cost to produce blocks (aka difficulty) to the previous period's mining computational expenditure and it is invariant in that the adjustment is pre-defined (constitutionally) at Genesis and locked in as such by the ever-increasing entropy of the totality of each of the network participant's utility functions.

Any major currency that (constitutionally) pegs to Bitcoin thus necessarily inherits the benefits of this quality of idealness.”

Jal Torrey - (Nash’s #1 Ideal Money Evangelist

Over the last three and a half years we have watched as central banks have flooded the markets with currency. The cost of goods has increased in the wake of trade route bottlenecks and the excess liquidity available to outbid the competition. We are still seeing commodity price spikes occurring globally, such as in the European energy markets.

Now imagine, if you will, that the scale embodies the concept of Ideal Money. This tool offers a more complete view of the price inflation occurring on the fiat currency side of things because it can be possessed as an asset itself in an effort to pursue a more conservative monetary policy, riding out the surprise shocks that occur when people pile into an attractive market (the things they really want on the right side of the scale).

And that’s why the US needs bitcoin in its treasury, though it does not explicitly need to back the dollar with bitcoin - whatever that might mean. This creates a situation similar to how corporations can hold Bitcoin on their books while issuing common stock to trade and raise capital from the market.

Attracting Economic Opposites

Economic satirists might seem to be endorsing Modern Monetary Theory (MMT) but their positions lack conviction, we see grand announcements of leaving behind triple-ledger accounting only to flirt with the concept most devotedly. Or worse, embittered positions that seemingly reflect the chanters missed opportunities. Disingenuous at the least, it’s probably an integrity issue.

It’s important to note that these ideas aren’t particularly “modern” in the 21st century, they have been championed by Keynesians since the early 1900s. While the macroeconomic ideas are attributed to John Maynard Keynes, it is worth adding that Nash felt Keynes’ intent was more grounded than the bastardized forms they have taken under the wings of the advocates that affiliated their efforts to Keynes’ original framework.

Elasticity, the capacity for expansion and contraction of the money supply, accommodates opportunity when it arises, to provide a platform for credit and creativity as well as to reign things in when the velocity of a currency is becoming overheated. It’s important to realize that liquidity is what lights up a market’s opportunity. Sure, social capital can potentially do that, however, that doesn’t always translate into the urgency required to execute against the conditions within the timeframe needed for meaningful gains to be produced.

That’s why it is excellent that RFK Jr. has put Bitcoin into the public economic discussion, though the implementation he is recommending lacks the nuanced understanding of how it operates as a balancing mechanism for the equation.

Of course, there is room for everyone’s ideas to be tested in the market. If you like efficiently sized blockspace, or would prefer a more cashlike experience, or want to store data on-chain - the various forks of Bitcoin offer dedicated functionality for the use cases listed here. Still don’t see one that meets your requirements? Fork it! Put it out there and see if it gains traction with users and miners.

This is where the waters get murky…

Any particular chain could be the right one for a time and a location, circumstances determine that. I’m not convinced that we know right now how all of these experiments will play out, it’s only been fourteen years since blockchains were introduced. We wouldn’t give it a driver’s license yet. However, his ideas about how blockchain creates transparency are spot on.

“The opportunity is the prospect of [bitcoin] being used as a medium of exchange. RFK Jr. wants to reduce capital gains tax for bitcoin, which would be good but we should get rid of the capital gains tax entirely. Bitcoin eliminates the need for a central bank digital currency (CBDC) [and] ensures that everyone is accountable, including governments. Forking could be good but there is no provision to handle that legally. Right now if there is a chain split, you have to treat [the new coins] as income.”

Daniel Krawisz - Bitcoiner

To me, forking enables customization. As open as the Bitcoin network is, our internet networks are not. In addition to the discussion of security is jurisdiction. Creating dedicated subnetworks of Bitcoin has already occurred for functionality and I believe that we will see more that are akin to fashion (such as we see in the cryptocurrency industry at large) as well as legal boundaries in accordance with governments.

Dedicating Blockspace to the UTXO-Dollar

So, how does Robert Kennedy Jr. know this is the direction we should go regarding US monetary policy? Sure, there is a latent interest in returning to metal-backed currency and some would conflate this idea with what he is saying in regards to a bitcoin-backed dollar. However, they should not. As the asymptotic model implies, it is a pursuit - a platform to expose low-integrity economic policies and to increasingly reduce the space it has to grasp additional mindshare.

The short of it is: he doesn’t. The position is flawed from the outset but that is all right. In totality, the Bitcoin experiment is flexible, and while fifteen years in, the concept has established itself, that doesn’t mean every application has been explored through each potential iteration. Users must continue to test its viability and we are the government. There is room to run, to see how much territory exists beyond the map, whether that be through forks or merely holding Bitcoin on balance sheets. Inevitably, our politicians will have to grapple with these issues and if Nash has anything to say about it, we will shift toward equilibrium.

For more on John F. Nash Jr.

Nash Chat

Hello Nashimoto

Mark Goodwin’s “The Birth of The Bitcoin-Dollar”

This is a guest post by Michael Finney. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

- Reed Macdonald
Bitcoin Ordinals Creator Proposes Overhaul of Inscription Numbering

Casey Rodarmor, the chief coder behind the Bitcoin Ordinals protocol, announced Tuesday that he is proposing a significant change to the software, one that could be viewed with skepticism by its budding user base.

Revealed in a post on X Tuesday, Rodarmor specifically proposed deprioritizing the canonical numbering system that assigns unique and coveted numbers to inscriptions created on the Bitcoin network. 

Since the protocol's inception, each digital artifact created using Ordinals has been assigned a unique inscription number. These numbers, akin to serial numbers, have become an essential part of the digital art's identity. 

Lower numbered inscriptions have been historically perceived as more valuable, driving collectors to seek these coveted positions within the numbering hierarchy. For instance, Casey Rodarmor himself owns the highly sought-after "Inscription 0." 

Notably, the change does not impact the numbering system the protocol assigns to individual satoshis on the Bitcoin blockchain, which would still be awarded a distinct numerical score based on their ordering in Bitcoin blocks.

Still, Rodarmor sought to assuage the market in his comments discussing the change, expressing concern that the effort to maintain stable inscription numbers "has resulted in complicated code and hindered the protocol's development." 

He continued: "The need to ensure new changes do not alter the numbers of existing inscriptions has made the development process cumbersome and challenging."

Rodarmor's proposal could spark a lively debate within the Ordinals community, as well as among NFT collectors and crypto enthusiasts. However, it's noteworthy that Rodarmor himself believes this system is already unstable. 

Discussing past attempts to rectify the issues, like adding negative numbered "cursed inscriptions" to the protocol, he wrote:

Cursed inscriptions and negative inscriptions numbers have a number of downsides:

An inscription number now does not tell you anything about the order in which the inscription was made.

The logic required to keep track of which inscriptions are cursed is a source of bugs and complexity.

"Blessing" cursed inscription types, i.e., collectively deciding that after a certain block height, certain cursed inscription types will no longer be assigned negative numbers, and be assigned positive numbers instead, requires coordination.

Cursed inscription numbers are permanently unstable, so a substantial number of inscription numbers are already unstable, even under the status quo.

Rodarmor's solution, in his own words, would make the existing inscription numbers "permanently unstable," changing how indexers would treat this information as opposed to eliminating them entirely.

Some market observers like Luxor's Charlie Spears backed the move, stating: "Inscription numbers are a shitcoin, and overemphasis on the number has led to ill-conceived protocol decisions and weird market dynamics."

Time will tell if the market agrees.

Notably, the proposal comes on the heels of a rare public appearance by Rodarmor at the recent Ordinals Summit in Singapore, where he discussed the protocol's success and future innovations. As such, the pull request could signal that the developer is about to enter a period of renewed activity.

- Alberto Mera
Gentrification And Bitcoin Blockspace: Economic Parallels With Real Estate

In September 1943, a character whose name nowadays covers the newscasts of half the world was put in charge of what would become a bastion against the offensive tactics from the rest of the European countries. The Second World War counted tens of millions of dead at that time in Europe and other war scenarios around the world, little was known about the Holocaust but it was probably at its peak, after the victory at Stalingrad communism in Russia threatened to respond to Hitler and expand its doctrine throughout Eastern Europe. At that time, in Madrid, the capital of Spain, a little known person, perched on a pulpit, pronounced the following words: "Gentlemen, we need a bigger soccer field and we are going to get it". It was Santiago Bernabéu, who as soon as he was elected president of Real Madrid soccer club, harangued the troops with that phrase that sealed the way for his name to go from referring to a person to identifying a place of worship.

By the middle of the 20th century, soccer stadiums were already a common feature of the skyline of many cities. The period between 1890 and 1910 marked the construction of those first stadiums, 50 of them were created in England in those years, all very close to the center, mainly because there was no means of transport that would allow a large number of fans to travel to the outskirts easily for matches. And by "large number of fans" I mean a huge crowd, there is evidence of a match at Crystal Palace Stadium in 1913 which was attended by 120,000 people, almost 40,000 more people than enter a major stadium today. Thus, there was a demand to watch soccer and this was something that Santiago Bernabéu did not fail to notice when he became president of the club. His plan to create a large stadium was not out of mere megalomania, but for business reasons: a larger stadium would accommodate more people, sell more tickets and with that money he could sign better players, the better players would bring success in the form of cups and trophies, which would attract more people to the stadium, thus increasing the money raised. He sought, as we can see, to create a virtuous circle.

To start that wheel, he needed to find a site to build his new stadium. The considerations to take into account when looking for a site are size and location. When the decision was made to look for a new stadium site for Real Madrid, the means of transportation had evolved a lot since the beginning of the 20th century, which made it possible to choose a location that, although central, was not in the historic center of the city, which is usually expensive and difficult to acquire. The size of the stadiums is another problem, since a medium-sized stadium already occupies a huge area, some 40,000 square meters, slightly less than the Palace of Versailles in Paris, an area that could house a large number of smaller buildings or structures and which, due to its main function, it is only useful for about 2 hours a week, less if we take into account the periods without soccer. Thus, Santiago Bernabeu and his team set out in search of a huge plot of land in an accessible area of Madrid for which they expected to get a low return compared to what could be received from commercial and residential rental income. With these constraints, they finally settled on an area slightly south of the Chamartín neighborhood, which at the time was a large plot of land surrounded by incredible esplanades (boardwalk or plaza) where football fans could park their car, bus, donkey or bicycle, depending on the individual.

In the USA, for example, many stadiums have been built in former industrial or port areas where factories, influenced to a greater or lesser extent by the position of the dollar as a reserve currency, became less competitive and eventually emptied, leaving a logistically well-supplied large plot of land at a good price, ideal for building stadiums for the exotic

sports practiced there. In Europe, many stadiums were built next to what used to be the city center, and as it grew, it became common for many of them to end up in the new center, thus greatly increasing their latent value and the incentive to sell that space and build a new, modern stadium on the outskirts. In the same city of Madrid, this happened recently with a historic rival of Real Madrid, the club Atlético de Madrid, which in 2019 sold the land of its old stadium and received about 180 million euros.

Bernabéu paid for the land to build Real Madrid's new stadium for about 18,000 euros in 1943. Today, the average price per square meter of apartments for sale in the center of Madrid is 5,292 euros. Exactly 80 years ago, it was paid at 40 cents. This calculation is interesting because according to an extrapolation of the consumer price index of the Eurozone, the average inflation figure for the period 1943-2023 was 6.8%, however here we can see that the average annual inflation of the price per square meter of real estate has been 8.84%. A deviation of 2 percentage points may not seem much but, to demonstrate that it is, let's see what your final capital would be if you had invested 1000€ in that same period and obtained those types of returns. In the first case, with a yield of 6.8% you would have 38,200 euros; at 8.84%, it would be more than double, 80,600 euros. When people tell you that 2% inflation is not that bad, remember this exercise.

Today, the money that Real Madrid would get for the sale of its land would be in the hundreds of millions, at that price per square meter we are talking specifically 228 million, better than investing in bitcoin for the last 10 years. What has influenced this incredible rise in the price of land? As cities grow, they get dangerously close to their natural limits. In Madrid, almost nothing remains of those vast forests that convinced Philip II to move the capital to this territory. As space is depleted, the cost of using it rises. To solve this problem, second layer solutions are being tried, third layer, fourth, and as many layers as possible. Floors allow for greater occupancy for the same amount of land space. However, the ground does not always support an unlimited number of upper layers, nor do the logistics around the site. For one reason or another, space within a city is limited and the demand for access to it increases as the city offers more professional opportunities, which usually comes with that increased concentration of people. Again, a virtuous circle. The cost of using the limited space in the city increases as the expected value of the use goes up because people are willing to pay more for the use of the land, this is the so-called gentrification process that is so disliked by the people who are displaced from their lifelong neighborhoods. People who are not able to obtain a sufficient return for their activity to cover the cost of using that space in the city and are eventually expelled by someone who is willing to pay more for that use because they expect to be able to make it profitable.

Santiago Bernabeu seized the moment and was able to gain access to a space that would eventually be in high demand for a cost that today would be considered derisory, while his bidding caused the surrounding land to rise in value and no space would ever be sold at such low prices again, giving rise to what we now call gentrification. Are we witnessing this same fact in the Bitcoin network?

The Bitcoin Blockchain until early 2023 was like the Madrid of 1947, an empty plot of land. Yes, there were populated areas where some demand was apparent, but by and large the types of uses of space on the Bitcoin blockchain was anecdotal. Between October 2020 and June 2021, the cost to enter transactions on the network was about $15, peaking at $60 in April '21 when the price of bitcoin was at a record high. This had been the usual pattern of the transaction cost on the bitcoin network, it only went up when the price exploded. Between mid-2021 and early 2023, it was back to the average cost of one dollar per transaction on the bitcoin network. Then, with the bitcoin price still near cycle lows, the cost per transaction started to rise, first slowly to $3 on average, then easing a bit to $2 again to quickly resume the upward path and reach $20 on average within a few weeks.

What has changed? The terrain, that is, the Bitcoin space has remained the same. If anything, the logistics, the access to that space, has changed. Taproot, so to speak, has brought the streetcar to the bitcoin network and brought it closer to the masses.

Three bitcoin developers, Gregory Maxwell, Andrew Poelstra and Pieter Wuille were looking for an enhancement to the Bitcoin code that would allow for better privacy and offer greater ability to program over its network. By early 2021, this enhancement, presented as a softfork, an update to the code, was ready. As Eric Wall describes, the timing of this was relevant. Any kind of code upgrade that enables greater capability or utility for the Bitcoin network opens the door to new attack vectors. The risk was there, but the crypto industry at that time was completely on fire, DeFi protocols made Ethereum shine while Bitcoin had not been updated for more than 3 years. Taproot could be that upgrade that showed the world that Bitcoin also adapts, in fact, when the upgrade finally took place, it was reported as a successful execution by the community.

Eric Wall explains Taproot's effect: "What Bitcoin developers Maxwell, Poelstra and Wuille had assumed was that any sufficiently capable developer could devise a clever scheme to insert arbitrary data en masse into Bitcoin, with or without Taproot. What they didn't take into account was that with Taproot, developers, from novice to mundane, would soon find ways to do it as well. This was the origin of Ordinals and Bitcoin registrations. In their aspiration to marginally advance Bitcoin for the craft developer, they had also made it substantially easier for a developer of limited ingenuity and talent to turn Bitcoin into a dump."

A glance at the bitcoin mempool, the space through which all transactions pass before being chosen to enter a block and become part of the chain, shows a very different picture in early May 2023 than it did just a few months ago. What was once a wasteland is now an orchard. Among this number of transactions waiting to enter the blockchain, some very particular ones stand out. These are small transactions of 546 sats (546 sats is the smallest amount of bitcoin an individual can send on the chain without being recognized as "dust" by the nodes running Bitcoin Core) paying many multiples in fees to get the transaction confirmed. Marty Bent did a monetary analysis on this: "At the time of this writing, 546 sats is worth just over $0.15. 546 sats is about as small as a UTXO can be on the bitcoin ledger. Those issuing these tokens are creating UTXOs that likely cannot be spent in the future and are paying, in this particular case, 77.2 times more in fees than the value of the UTXO they are creating. My guess is that the token issuers are looking for the least amount of bitcoin needed to embed their token data in the chain and paying to do so in the hope of getting it back when they find someone else dumb enough to buy it from them." These small transactions, therefore, would be flooding the Bitcoin mempool, competing with other transactions to get into the next block and thereby putting upward pressure on the cost of getting information into the Bitcoin blockchain. As if overnight, a city street had become extremely popular and everyone wanted to live there.

Behind this phenomenon is a new protocol created on the Bitcoin network. Eric Wall explained that the Taproot change opened up the network to developers with the wildest ideas. Well, one of them is this protocol, the so-called BRC-20. In Eric Wall's words: "What this protocol offers is what is called a fair mint. A shitcoin is created over the Bitcoin network and its issuance is run over a number of blocks, those who offer to pay the most commission for the block space get an allocation (a share of the tokens). This proof of commissions paid is a mechanism that cannibalizes cheap block space" Thus, Eric continues, "The market for block space will harmonize as, if arbitrary systems can be run within Bitcoin, there is no reason why space on its blockchain should be cheaper than on Ethereum's."

Today, around the Santiago Bernabeu stadium, we find tall office buildings and shopping areas, even a supermarket where the inflation in food products so fashionable today was felt from its very opening. However, I bet that when the stadium was inaugurated almost 80 years ago, what you found in its surroundings were street food stalls, a few ramshackle bars, houses of ill repute and other activities of little added value. The land on which it was located was not in demand, which is why it was so cheap to obtain. That is why the activities carried out in that area were not highly profitable. If they were, they would move to better areas of the city, paying what was necessary to occupy that space. It was the creation of wealth derived from value-added activities that led to an increase in the demand for space in Madrid and the necessary price increase for using that land. Higher value activities began to displace those unprofitable land uses to create the image of Madrid today.

What we are seeing in the bitcoin network is an unprofitable use of space that bitcoiners consider valuable. We do not consider those tokens that are created on Bitcoin to be worthy of occupying that space. It is as if we were transported back in time to Madrid in 1947 to see the activities of little value taking place in places that are now the nerve centers of the city and criticized the poor use that is being made of streets and squares that we know offer much more value.

Faced with this situation, some people hope that this possibility is eliminated outright, that all these people be removed from there and that Bitcoin is not used for what we do not believe it should be used for. Asking for the bordellos to be put somewhere else, basically. This option does not seem feasible. Poelstra, one of the Taproot developers, explains it this way, "Unfortunately, as far as I understand it, there is no sensible way to prevent people from storing arbitrary data on the network without incentivizing even worse behavior and/or breaking legitimate use cases. If we ban "useless data", then it would be easy to introduce it inside "useful" data such as fake signatures or public keys. Doing so would incur the cost of having to pay twice as it is twice as much data, but if paying twice as much is enough to disincentivize storage, then there is no need to have this discussion because they will be forced to stop doing it anyway due to competition in the fee market (And if not, it means there is little demand for Bitcoin block space, so what is the problem with paying miners to fill with data that validators don't even need to perform real calculations [for]?). On the other hand, if we were to prohibit "useful" data, e.g., by saying that a signature space can have no more than 20 signatures, then we are in the same problem we had before Taproot. We deliberately replaced those limits with having to pay per signature. You can argue that this kind of data is toxic to the network, because even if the market is willing to bear the cost, if people were storing NFTS and other crap on the blockchain, the Bitcoin market would become entangled

with pump&dump markets, undermining legitimate use cases and potentially preventing new technologies like LN from taking hold. But from a technical standpoint, I don't see any way to stop this." It looks like the bordellos will have to stick around until another use displaces them.

On the other hand, voices are starting to emerge calling for increased space to allow more data to enter the Bitcoin network, a debate that takes us back to 2017 and the blocksize war. This is always the argument of those who are displaced by the gentrification process. If using space, whether on the Bitcoin blockchain or downtown, becomes prohibitively expensive, there is a demand to expand that space or control prices. Since controlling prices is not possible because Bitcoin is a free and open market oblivious to the wet dreams of populist politicians, then there is a call to expand the space. Fortunately, this debate has been settled in the past and I doubt it will be reopened.

A city, like the Bitcoin network, can go through phases where it is more fashionable and phases where it is more depressed. What a city experiences over decades, in the case of Bitcoin is seen in days. That ability to respond to ups and downs in demand is what allows Bitcoin to be so resilient and, at the same time, so difficult to predict and take advantage of. At a time when miners were in over their heads, an increase in fees like this gives them a line to hang on to. A massive investment in capital to monetize it through mining risks these ups and downs that can cause the company to go bankrupt, which favors the decentralization of this activity. At the same time, the increase in fees, such as the demand for land in a city, has motivated investment in second-layer solutions like Lightning. On the other hand, an attack on the network consisting of massive use of space would see the cost of the attack increase exponentially until it gets virtually unaffordable for any bad actor. Running out of resources to continue the attack, the network would continue with business as usual. Bitcoin's security budget, the minimum necessary for it to survive, is not known and cannot be known, because it varies with the circumstances of each moment. Finally, we could highlight from this episode that it is proof that the Bitcoin network can be self-sufficient when the subsidy to miners runs out. As Gregory Maxwell said in 2017 when Bitcoin network activity was such that commissions were even higher than today, "I for one am bringing out the champagne to celebrate activity in the market that is producing levels of commissions that can pay for security thus avoiding having to revert to inflation."

When Santiago Bernabéu decided to go for those plots of land in the village of Madrid, his vision was not of the impoverished Madrid that lay before him, but of a city that would grow and carry the club of his life on its wings. Madrid, like any other city, is not perfect. Its history has been full of ups and downs. Wars have been fought over its land, the last one being the cause of the desire to create a new stadium. It has very disparate areas, questionable uses of space, but it is a scarce and highly demanded land for the added value it offers to those who can make use of it. Likewise, the vision of Bitcoiners is not the image of half-empty blocks or a mempool full of shitcoins that we see today, but one in which Bitcoin blocks are the basis of the economy of a disparate, imperfect world, one that sustains the creation of wealth for its inhabitants. A vision also, in which not everyone will be able to access the Bitcoin base layer, just as not everyone can access Madrid.

- Bitcoin Magazine
What Happens After A Spot Bitcoin ETF is Approved?

One of the latest developments in the Bitcoin market is the potential approval of a Bitcoin Exchange-Traded Fund (ETF). An ETF is a financial product that allows investors to gain exposure to an asset without having to directly own it. In the case of a Bitcoin ETF, it would provide investors with a convenient way to invest in Bitcoin through traditional brokerage accounts. But what would happen if a Bitcoin ETF is approved? Let's dive into the potential implications and outcomes.

Understanding Bitcoin ETFsThe Basics of Bitcoin ETFs

A Bitcoin ETF would function similarly to other ETFs, in that it would be regulated by the Securities and Exchange Commission (SEC) and subject to strict reporting requirements. This would provide investors with a level of transparency and oversight that is often lacking in the cryptocurrency market. Additionally, a Bitcoin ETF would bring institutional-grade custody solutions, reducing the risk of theft or loss of Bitcoin.

The Role of ETFs in the Financial Market

Furthermore, the introduction of a Bitcoin ETF would likely lead to increased market liquidity. As more investors enter the market through the ETF, the overall trading volume of Bitcoin would likely increase. This increased liquidity could help stabilize the price of Bitcoin and reduce volatility, making it a more attractive investment option for both retail and institutional investors.

Additionally, the approval of a Bitcoin ETF could have positive implications for the broader cryptocurrency market. It would signal a greater acceptance and recognition of Bitcoin by regulatory authorities, potentially leading to increased adoption and mainstream integration of Bitcoin.

The Regulatory Hurdles

Regulators have expressed concerns about the potential for market manipulation, lack of investor protection, and the possibility of fraud in the Bitcoin market. These concerns have led the SEC to reject multiple Bitcoin ETF proposals in the past.

However, proponents of a Bitcoin ETF argue that the market has matured significantly since those rejections. They highlight the introduction of regulated exchanges, increased transparency, and the growing interest from institutional investors as signs of a more robust and regulated ecosystem.

The Current Status of Bitcoin ETFs

As of now, the SEC has not approved any Bitcoin ETFs. However, several companies have filed proposals, with some making significant progress towards approval. The industry eagerly awaits a decision from the SEC, which could have far-reaching consequences for the Bitcoin market.

In conclusion, the potential approval of a Bitcoin ETF holds significant implications for the Bitcoin market and the broader financial industry. It would provide investors with a regulated and convenient way to gain exposure to Bitcoin, potentially driving increased demand and liquidity. Additionally, it could attract institutional investors, bringing stability and validation to the market. However, risks and challenges, such as market volatility and regulatory uncertainties, must be carefully considered. Only time will tell how the journey towards Bitcoin ETF approval unfolds, but the potential outcomes warrant close attention from investors and regulators alike.

Bitcoin Backstage with Dylan LeClairDylan’s advice in a bear market

“Just understand what you own. You cannot borrow someone else’s conviction. You need to understand what bitcoin is, where it is potentially going, think of the long term game, and stay humble and stack sats.”

Dylan’s advice to newcomers

“It takes a lot of work to understand what bitcoin is, but ultimately bitcoin is a savings mechanism that no one can mess with if you safely self custody your bitcoin.”

Dylan left us off with “Bitcoin fixes the government monopoly on money and currency debasement.”

Quick Bitcoin News Recap of the WeekPaxos Fat Fingered Bitcoin

While at first it looked like PayPal overpaid by over a whopping half a million dollars, or about 19 bitcoin worth of transaction fees with on-chains analytics, it was actually Paxos that caused the error.

Coinbase Integrates Lightning

Coinbase announces plans to integrate the Lightning Network onto their exchange platform. CEO Brian Armstrong tweeted out saying that Bitcoin is the most important asset in cryptocurrency.

CEO of Binance US Leaves Company

Brian Shroder, the CEO of Binance.US, leaves the company, news that preceded 33% of the Binance workforce being laid off. It seems the pressure from the SEC lawsuit back in June is boiling up quickly.

FTX Clawbacks

It was disclosed in court papers that they analyzed certain payments dished out to athletes before the company unraveled last November and found that some can be claimed through clawbacks during Chapter 11 bankruptcy.

They want to clawback payments to athletes such as Shaquille O’Neal, tennis star Naomi Osaka, and other athletes and teams that promoted FTX.

President Nayib Bukele of El Salvador meets with the Emir of Qatar

President Bukele and the Emir of Qatar met to discuss commercial corporations between both countries, and presumably about Bitcoin.

- Diego Almada Lopez
UK Crypto Law Change Leads Bybit to Halt Operations
Crypto exchange Bybit suspends UK services starting October 2022 due to new FCA regulations on crypto asset promotions.
- Diego Almada Lopez
Coinbase May Issue A Token for Base, Exec Hints
Coinbase chief legal officer floats possibility of Base token despite past denials.
- Diego Almada Lopez
Bitcoin Crash to $8,200 in 2021 Finally Linked to SBF’s Alameda
Ex-Alameda engineer explained that the 2021 Bitcoin flash crash to $8K happened because of an Alameda trader's fat finger.
- Diego Almada Lopez
eToro Gains Approval to Offer Crypto Trading in Europe
The trading platform eToro can now offer compliant crypto services in the EU after getting registration from CySEC in Cyprus.
- Diego Almada Lopez
Elon Musk’s X To Add Payments Feature, CEO Confirms
X users will soon be able to send money to each other, according to a video from CEO Linda Yaccarino.
- Diego Almada Lopez
Coinbase’s cbETH Staking Generates 4% of Exchange’s Revenue
Amid low trading volumes, Coinbase is diversifying revenue beyond exchange fees into areas like Ethereum staking service cbETH.
- Diego Almada Lopez
LayerZero Leaves Decentralization for Google Cloud
Blockchain network LayerZero chooses Google Cloud over decentralized alternatives like Chainlink, sparking concerns over centralization.
- Diego Almada Lopez
EU Central Bank Could Soon Hold Stablecoin Reserves, Says Circle Director
Proposals by the European Commission aim to allow non-banks access to payment systems, enhancing stablecoin regulations.
- Diego Almada Lopez
Yield Platform Freeway Misused $160 Million in Customer Funds, Court Filing Says
Over 5,000 investors have deposited $160 million into Freeway's program and can't access their funds.
- Diego Almada Lopez
Crypto Markets Could Rally As Fed Eyes End to Rate Hikes: Grayscale
Slower inflation may allow the Fed to halt rate hikes, indicating potential recovery for battered crypto markets, says Grayscale.
- Diego Almada Lopez
Binance CEO CZ Contradicts His Own Lawyers
Binance CEO denies SEC claims that its US arm improperly used overseas Ceffu custody, contradicting past statements by his own attorneys.
- Diego Almada Lopez
Judge Denies SEC’s Request To Access Binance.US Tech Stack
A federal judge denied the SEC access to Binance.US's technology stack today.
- Diego Almada Lopez
North Korea’s Hacker Army Behind 30% of Crypto Hacks This Year: Chainalysis
A Chainalysis report reveals North Korean hacking groups stole over $340 million in crypto this year, accounting for 30% of all crypto hacks.
- Diego Almada Lopez
Coinbase’s Base Beats Ethereum in Daily Transactions
Social app Friend.Tech usage sends Base's transaction count above Ethereum's.
- Diego Almada Lopez
Citigroup To Launch Private Blockchain Pilot for Institutional Clients
Citi pilots blockchain-based Citi Token Services to give global institutional clients instant 24/7 cross-border transfers and smart contract trade finance.
- Diego Almada Lopez
Crypto Market Sees $55 Billion in Capital Outflows, Bitfinex Report
Crypto exchange Bitfinex published a report this week analyzing $55 billion in capital outflows from the crypto market in August.
- Diego Almada Lopez
Binance.US Leadership Crisis, Legal and Risk Heads Follow CEO Exit
Binance.US's legal and risk executives resigned without explanation, deepening leadership woes at the troubled crypto firm.
- Diego Almada Lopez
FTX To Sell $3.4 Billion in Solana, Bitcoin, & Other Tokens
Court ruling allows FTX creditors to sell the bankrupt exchange's crypto assets worth billions, including Bitcoin and Solana.
- Diego Almada Lopez
Binance.US Blames SEC Crackdown For 100 Layoffs and CEO Departure
Binance.US announces layoffs and CEO Brian Shroder's departure amid SEC pressures.
- Diego Almada Lopez
Sony Network to Build Sony Chain with Startale Labs
Sony Network Communications and web3 infrastructure developer, Startale Labs, collaborate to launch a new blockchain.
- Charles Thuo
At press time, the Moonbeam (GLMR) token was trading at $0.2601, up 56.29% in a day. Moonbeam’s trading volume has also surged by 1937.22% over the last 24 hours. Upbit Exchange has announced that it will list the GLMR token.

Moonbeam’s native token, GLMR, has surged by an impressive 56% in the last 24 hours, currently trading at $0.2601 on various spot trading platforms. This remarkable price action is generating significant buzz within the altcoin market.

What’s driving this surge is the recent announcement that GLMR is set to be listed on Upbit, one of South Korea’s leading cryptocurrency exchanges, known for its pivotal role in token expansion.

Upbit to list Moonbeam (GLMR) token

Upbit’s decision to list GLMR has far-reaching implications, given South Korea’s stature as a major hub in the digital currency trading world. This listing has ignited excitement across the crypto industry, as it opens doors to a vast and influential market.

Moonbeam, as a prominent protocol within the Polkadot ecosystem, has been on a mission to onboard highly functional decentralized applications (dApps) and establish unique reward mechanisms for early supporters. Its strategic collaborations have contributed to its rising prominence. Competing head-on with the Astar Network, Moonbeam’s listing on Upbit is expected to amplify its reach and bolster its long-term sustainability.

The persistent Moonbeam bear market

For Moonbeam enthusiasts and investors, this surge comes as a breath of fresh air. GLMR had languished below the $0.2 mark for weeks, making this sudden leap a welcome development that recovers a substantial portion of its recent losses.

GLMR’s spectacular 50.2% surge is a testament to the growing interest in Moonbeam’s potential. The forthcoming Upbit listing has ignited optimism within the cryptocurrency community, offering Moonbeam a valuable opportunity to strengthen its position in the highly competitive blockchain landscape.

As Moonbeam pushes forward with its vision of facilitating decentralized applications and rewarding early supporters, its listing on Upbit marks a significant milestone in its journey towards achieving broader recognition and adoption.

The post Moonbeam (GLMR) token rallying on news of listing on Upbit appeared first on CoinJournal.

- Benson Toti
Worldcoin (WLD) has announced that more than 200,000 people in Chile have signed up for World ID. The project, co-founded by OpenAI CEO Sam Altman, has come under increased scrutiny over data collection and privacy concerns.

Worldcoin (WLD) announced on September 24 that more than 200,000 Chileans have signed up and completed verification for its World ID. The number of sign-ups for the digital identity protocol exceeds 1% of the country’s population, which stands at around 19.5 million, the Worldcoin team noted.

Amid the growing demand in Chile, Tools for Humanity – a developer group contributing to the development and adoption of Worldcoin – has added the biometric imaging devices (Orbs) to two other locations in Chile. 

Other than the capital Santiago, the iris scanners are now located in the cities of Vina del Mar and Concepcion.

Worldcoin faces regulatory scrutiny

Worldcoin, co-founded by OpenAI CEO Sam Altman and which went live in July this year, says more people are signing up with World ID as they receive “free” WLD coins. Indeed, according to details on the project’s website, over 2.3 million people have had their eyeballs scanned so far.

Altman and team maintain that the project is for a digital ID that will help people prove online that they are human – a path towards Proof-of-Personhood in a world where AI may make this difficult. Data regulators and privacy groups across several countries have, however, raised concerns about Worldcoin’s data collection.

It’s this push for more clarity on what happens to the biometric data that Worldcoin collects that has seen Argentina, France, Kenya, Nigeria, the United Kingdom, and Germany take various regulatory steps.

Kenya, for instance, suspended Worldcoin’s activities in August and had a parliamentary inquiry after thousands of people thronged the capital Nairobi to have their eyes scanned in exchange for WLD tokens. Worldcoin co-founder Alex Blania is among the project’s officials to appear before the ad hoc committee.

According to a report in the Daily Nation last week, Kenya had detained the project’s top executives only to release them after US authorities allegedly intervened.

The post Over 200,000 Chileans have signed up for Worldcoin (WLD) appeared first on CoinJournal.

- News Team

In the ever-evolving world of cryptocurrencies, hidden gems often shine the brightest. Today, we dive into the realm of crypto gems, those digital assets priced under $5 that have the potential to make a significant impact in 2023.

Among the finds, we’ll explore Borroe.Finance ($ROE) is a standout candidate for the best crypto investment opportunities, making it essential not to overlook.

Borroe.Finance ($ROE)

Amidst the search for a good crypto to buy, Borroe.Finance ($ROE) stands out as a beacon of innovation. Priced at a mere $0.0125 per token, Borroe.Finance has swiftly gained recognition through its ongoing presale event

This project boasts an extraordinary concept of an advanced AI-powered funding marketplace that empowers content creators and Web3 participants to access immediate cash by trading their future earnings. The unique model encompasses various income streams, including subscriptions, invoices, royalties, etc.

LunaX (LX)

LunaX has emerged as a promising cryptocurrency, represented by the LX token. Its primary objective? To revolutionize cross-border payments. The crypto world has witnessed LunaX’s low transaction fees and lightning-fast processing times, challenging conventional banking systems and remittance services. 

With the continued growth of global commerce, LunaX positions itself as a formidable player, facilitating secure and efficient international transactions. Indeed, LunaX stands as one of the top crypto coins to watch in 2023.

Solis (SOLI)

Solis (SOLI) is a blockchain platform with a noble focus — sustainability and environmental responsibility. By employing a Proof of Stake (PoS) consensus mechanism, Solis minimizes energy consumption, making it an eco-friendly choice in the crypto space. 

Given the rising concerns about the environmental impact of cryptocurrencies, Solis has garnered attention from environmentally conscious investors. Its potential for substantial growth in 2023 is notable, driven by its eco-friendly approach.

ThetaEdge (TED)

ThetaEdge (TED) serves as the native token of the ThetaEdge network, a decentralized edge computing platform. Edge computing is rapidly gaining traction due to its ability to enhance the speed and efficiency of data processing, a critical component for emerging technologies like IoT and AI. 

As the demand for effective edge computing solutions continues to soar, ThetaEdge’s TED token stands poised for increased adoption and potential value appreciation throughout 2023.

MetaverseCoin (META)

MetaverseCoin (META) is among the best metaverse coins. It spearheads the metaverse revolution, powering transactions within virtual worlds. This cryptocurrency empowers users to acquire virtual assets and experiences within these immersive digital realms. 

The metaverse concept is gaining immense popularity across various sectors, including gaming, entertainment, and even business. In light of this, META exhibits undeniable potential for explosive growth in 2023, serving as a gateway to the future’s immersive digital landscapes.

Best crypto investment opportunities 

As we explore the world of crypto gems, LunaX, Solis, ThetaEdge, and MetaverseCoin shine as tokens with untapped potential. These digital assets, priced under $5, offer unique value propositions and are well-poised for growth in 2023. 

Alongside them, Borroe.Finance emerges as a groundbreaking project that should not be overlooked. In the fast-paced crypto landscape, the quest for the best crypto to buy today for long-term gains takes us on a journey filled with hidden treasures and innovative opportunities.

For investors actively seeking the best cheap crypto investment opportunities, Borroe.Finance’s presale offers an enticing proposition. With over 90 million $ROE tokens, each priced at just $0.0125, this presale provides an attractive entry point into the crypto market. 

In a realm known for rapid changes and market unpredictability, staying informed and vigilant is essential. Timing often plays a pivotal role in the crypto success and Borroe.Finance ($ROE) has positioned itself as a compelling prospect for savvy investors who recognize the potential of its innovative funding marketplace.

To learn more about Borroe.Finance ($ROE) visit Borroe.Finance Presale | Join The Telegram Group | Follow Borroe on Twitter

The post The 5 best crypto to buy now for under $5 appeared first on CoinJournal.

- News Team

A whirlwind of price fluctuations, breakthroughs, and transformative developments shape the crypto landscape. One such development has been the recent struggles of Litecoin (LTC) juxtaposed with the promising potential of InQubeta ($QUBE).

While the LTC charts forecast a potentially tricky path ahead, all eyes are on the new ICO, QUBE, which is gearing up for a possible 6000% surge.

InQubeta ($QUBE): the AI investment revolution

Before diving deep into the Litecoin narrative, it’s crucial to introduce one of the best ICOs in 2023: InQubeta. This crowdfunding platform is setting the stage to change how we view AI-driven investment opportunities. The ethos behind InQubeta revolves around democratizing access to AI startup investments, a field historically dominated by big players. With an intention to transform the landscape and make it accessible to everyday investors, InQubeta is gearing up to be more than just another good crypto to buy; it’s an entire movement.

QUBE, with its deflationary token model, rewards investors while simultaneously introducing token burns. But what makes it truly stand out is its vision of a restructured AI investment landscape, where opportunity isn’t limited to a privileged few. 

As it readies for a jaw-dropping 6,000% surge, there’s a palpable excitement surrounding QUBE in the investment community. Its forthcoming rally is indicative of the immense faith investors have in its future and its revolutionary approach to AI investment. The resounding success of the ongoing InQubeta presale is evidence of this fact.

Litecoin (LTC): navigating the storm

Litecoin, one of the top altcoins, is currently going through a turbulent phase. After a significant breakdown near the $80 mark, it now flirts with a crucial support level at $65. Technical analysis indicates that LTC has formed a double bottom pattern, a classic chart figure often interpreted as a sign of potential trend reversal. Currently, LTC grapples with the 20-day EMA, aiming to overcome it in its quest to reclaim the lost ground.

However, the stakes are high. Litecoin is dancing at a precarious crossroads. If it manages to hold its ground above the $60 level and witnesses subsequent buying, it could reverse its recent losses and potentially regain the swing back to $80. But, on the flip side, should it slide below $60, it could be headed for a sharper decline, targeting the $50 mark.


As Litecoin finds itself at a pivotal juncture, its future seems uncertain. On one hand, it may reclaim its previous highs, and on the other, it may undergo further dips. This unpredictability is a testament to the volatile nature of the crypto market.

Conversely, InQubeta stands tall, not just for its presale success but for its innovative approach to AI investments.

As the crypto world evolves, the juxtaposition of these two cryptos paints a vivid picture of the industry’s dynamics – from top crypto coins facing market pressures to emerging ones like QUBE promising groundbreaking transformations. Seasoned or new crypto investors can keep a keen eye on these developments, as they could shape the contours of the crypto landscape.

For more information about InQubeta and the ongoing presale, visit InQubeta Presale or join the InQubeta Communities.

The post Litecoin price prediction: LTC to dip below $60; QUBE to observe a 6,000% surge appeared first on CoinJournal.

- Benson Toti
Arkham announced it identified nearly $25 billion in Bitcoin in crypto exchange Coinbase’s portfolio. The BTC holdings are approximately 948,000, closer to the 1 million BTC of Satoshi Nakamoto. Coinbase is thus the world’s largest known Bitcoin entity, Arkham analysts said on X.

Blockchain intelligence firm Arkham has reported that Coinbase holds Bitcoin (BTC) worth about $25 billion, making the cryptocurrency exchange the world’s largest entity holding the flagship digital asset.

Arkham says Coinbase holds nearly 1 million BTC

Arkham’s announcement on Friday was that it had identified nearly 1 million BTC on-chain for Coinbase reserves, with this making the US-based crypto behemoth “the largest Bitcoin entity in the world on Arkham.” The holdings account for about 5% of all bitcoin in existence and means the exchange’s BTC is nearly as much as that attributed to Bitcoin creator Satoshi Nakamoto.

Arkham has now identified $25B of Coinbase Bitcoin reserves (~1M BTC) on chain.

This makes Coinbase the largest Bitcoin entity in the world on Arkham, with almost 5% of all BTC in existence – about as much as Satoshi Nakamoto.

— Arkham (@ArkhamIntel) September 22, 2023

Coinbase is also reportedly home to 36 million deposit and holding addresses for BTC, one of which is a cold wallet with 10,000 BTC. There could be millions of other untagged assets, the intelligence platform noted.

Arkham has identified and tagged over 36 Million BTC deposit and holding addresses used by Coinbase, with their largest cold wallet containing ~10K BTC. Based on their most recent financials, Coinbase likely has thousands more BTC not yet labeled,” Arkham posted on X.

Other than Bitcoin, the Coinbase portfolio also has 1.68 million Ethereum (ETH), 68.6 million Chainlink (LINK), nearly 223 million USD Coin (USDC) and 921,000 BNB (BNB). These assets contribute to Coinbase’s crypto portfolio of over $29 billion, according to data on Arkham as of September 22.

Arkham’s report comes as Coinbase expanded its services further with a regulatory approval in Spain. As CoinJournal highlighted earlier today, the company has secured registration with the Bank of Spain to offer services as a crypto exchange and crypto custody wallet provider.

Official entry into Spain adds to Coinbase’s regulatory milestones in Italy, Singapore, the Netherlands, Brazil and Canada. The exchange is also battling for regulatory clarity in the US.

The post Coinbase is largest Bitcoin (BTC) holder in the world: Arkham appeared first on CoinJournal.

- Crispus Nyaga

The Federal Reserve decided to leave interest rates unchanged.

It also signaled that it will deliver another rate hike later this year.

Shiba Memu has defied gravity by raising over $3.1 million.

Stocks and cryptocurrencies came under intense pressure this week as the Federal Reserve pointed to higher interest rates in the coming months. The Dow Jones, Nasdaq 100, and S&P 500 slipped for four straight days. Similarly, Bitcoin dropped to $26,000, down from this month’s high of almost $28,000. 

Federal Reserve decision

The main catalyst for the performance of stocks, cryptocurrencies and bonds was the latest Federal Reserve interest rate decision. In it, the bank decided to leave interest rates unchanged between 3.50% and 3.25%. At the same time, the committee hinted that it was still concerned about inflation. 

As a result, the dot plot pointed to another 0.25% hike by the end of the year. If this happens, interest rates will peak at 5.75%, the highest level in more than 23 years. The Fed is right to be worried about inflation. 

Recent data shows that the price of crude oil has continued soaring. Brent, the international benchmark, rose to $95 and most analysts believe that it is just a matter of time before it hits $100.

The price of other agricultural commodities is also rising. Live cattle has jumped by 20% this year and is sitting at the highest point on record. Cocoa, which is used to make chocolate, has soared because of low yields in Ghana and Ivory Coast. Orange juice has also soared.

Therefore, there is a likelihood that the Federal Reserve will continue rising rates in the coming months. Besides, the UAW workers are on a major strike while a long traffic jam is happening at the Panama Canal.

Shiba Memu is thriving despite risks

The actions of the Fed risks plunging the American economy into a recession. For one, the M2 money supply in the economy has dropped by more than $2 trillion in the past few months. Delinquency rates have also jumped while mortgage rates are nearing 8%.

Still, investors are still interested in Shiba Memu, the upcoming meme coin that has some AI features. Data in its website (use this link) shows that the token has already raised over $3.1 million from investors. This makes it one of the biggest winners this year

For starters, Shiba Memu aims to be a better version of Shiba Inu, the giant meme coin. It will do that by incorporating AI features that will help it in self-marketing. Therefore, if it succeeds, Shiba Memu will likely become a bigger deal than other meme coins like Dogelon Mars and Pepe, which have no major utility.

The post Shiba Memu (SHMU) defies gravity as hawkish Fed jitters remain appeared first on CoinJournal.

- Mircea Vasiu
Ethereum remains under pressure as the dollar strengthens
The US dollar strengthened following the FOMC September meeting The Fed sees the funds rate higher for longer Ethereum should hold above $1,400 for the bullish bias to persist

This year had two distinct parts for financial market participants – one characterized by the dollar’s weakness and one dominated by the dollar’s strength. 

The US dollar runs the show both in the traditional and cryptocurrency markets. EUR/USD is the best example of the correlation between the two markets. 

It opened the year at 1.06, rallied to 1.12, where it peaked during the summer, and then gave up its gains. The same dollar cycle may be seen in many cryptocurrencies. 

For example, Ethereum rallied from the start of the trading year, peaked at $2,000, where it met resistance, and then corrected. Therefore, cryptocurrency traders may want to focus on the dollar’s direction in order to position on the right side of the cryptocurrency market. 

The Federal Reserve’s September meeting did not change the dollar’s course

On Wednesday, the United States Federal Reserve released its monetary policy decision. It chose to keep the funds rate unchanged as the latest inflation news is encouraging. 

Market participants wildly expected the decision, so the focus shifted to the press conference. Jerome Powell was hawkish during the conference in the sense that it kept all the options on the table, including further rate hikes. The hawkish part was that he implied that future rate cuts may not be as many as in the past. In other words, interest rates would remain higher for longer. 

Naturally, the dollar rallied. 

Ethereum is trapped in a tight range

Ethereum is one of the most popular cryptocurrencies. Also, it is very liquid compared to other cryptocurrencies. 

Before the rally that started in 2023, Ethereum formed a contracting triangle. The good news is that such triangles appear at the end of complex corrections. 

Ethereum chart by TradingView

It means that if they act as reversal patterns, as is the case here, the new move that follows is part of a different pattern. 

The chart above shows that Ethereum corrected 50% from its highs but remains in a relatively tight range. By tight, one should refer to the historically high volatility in the cryptocurrency market. 

Bulls may want to wait for Ethereum to close above $2,000 before going long. Also, they would want to see Ethereum holding above the $1,400 support area. 

On the other hand, bears may want to see the market dropping below the support area provided by the $1,400 level. A drop to $1,000 might be in the cards on such a move. 

The post Ethereum remains under pressure as the dollar strengthens appeared first on CoinJournal.

- Charles Thuo
Coinbase’s registration with the Bank of Spain marks a significant stride in its mission to provide secure and compliant crypto services to users worldwide. The registration allows Coinbase to offer our full suite of products and services to retail and institutional users in Spain. Spain is a member of the EU which recently adopted the Markets in Crypto Assets (MiCA) regulations.

Coinbase, a leading cryptocurrency exchange and custodian wallet provider, on September 22 announced that it had achieved a significant milestone in its global expansion strategy by securing Anti-Money Laundering (AML) registration with the Bank of Spain.

This registration enables Coinbase to offer its full range of cryptocurrency services to both retail and institutional users in Spain while complying with the country’s regulatory framework.

Coinbase in Spain

Users from Spain can now access a comprehensive suite of services provided by Coinbase, including the secure custody of crypto assets, seamless buying and selling of crypto assets in legal tender, and the trading of various cryptocurrencies against one another.

Nana Murugesan, the Vice President of International and Business Development at Coinbase, expressed enthusiasm about this achievement, highlighting its importance in supporting and growing their user base in Spain.

Coinbase’s commitment to regulatory compliance is evident in its recent accomplishments, including VASP registrations in Italy, Ireland, and the Netherlands, along with approvals and launches in Singapore, Brazil, and Canada. Collaborating with regulators worldwide is a pivotal element of Coinbase’s international growth strategy.

Coinbase’s global expansion strategy

Coinbase’s Phase II international expansion strategy focuses on obtaining licenses and registrations, customizing the user experience to meet local requirements, establishing strategic local partnerships, and strengthening operations in markets that prioritize regulatory clarity, as exemplified by Spain.

Spain has exhibited a growing interest in cryptocurrencies, with 29% of adults believing in their potential as the future of finance. Cryptocurrencies have gained popularity as a payment method, surpassing traditional bank transfers. A study by Bitnovo revealed that a significant portion of Spanish citizens view cryptocurrencies as long-term investments and a means of making payments. Furthermore, Spain boasts a thriving blockchain ecosystem, with numerous startups and a high demand for blockchain-related skills.

The adoption of the Markets in Crypto Assets (MiCA) regulations by the European Union is a pivotal moment for the cryptocurrency industry in the region. MiCA offers much-needed regulatory clarity, demonstrating the EU’s recognition of the transformative potential of emerging technologies. In contrast, many other jurisdictions are grappling with the challenge of establishing coherent regulatory frameworks for the rapidly evolving crypto industry.

The post Coinbase secures registration with the Bank of Spain appeared first on CoinJournal.

- Charles Thuo
Base ecosystem expands by 97.21% as TVL surpasses that of Solana
Base’ has outpaced established networks like Solana proving its growing prominence in the DeFi landscape. Base’s remarkable rise is driven by projects like Aerodrome Finance and Base has also enjoyed an impressive increase in transaction volume.

Coinbase’s layer 2 network, Base, has witnessed an astounding surge in its Total Value Locked (TVL), hitting approximately $397.32 million within just a month and a half since its August launch.

This meteoric rise has propelled Base ahead of Solana, whose TVL currently stands at $358.96 million. In the past 30 days alone, Base’s TVL surged by a staggering 97.21%, as evident on DeFiLlama, while Solana experienced a 9.64% decrease in TVL during the same period. Interestingly, the surge comes even after Base suffered an outage at the beginning of September.

Screenshot from DefiLlama

Blockchain projects launched on Base

Within Base’s TVL, two native projects have played a pivotal role. Leading the charge is the decentralized exchange (DEX) Aerodrome Finance, boasting a TVL of $97.83 million. In a similar vein, the decentralized social media (DeSo) app secured the second spot with a TVL of $36.53 million.

Aerodrome Finance, launched on August 28, allows users to deposit liquidity and earn AERO tokens. Its TVL saw an explosive growth spurt on August 31, with an influx of $150 million in a single day. However, it subsequently witnessed a decline of approximately 51% from its peak., introduced on August 11, enables users to tokenize their social networks through the exchange of “Keys.” Despite initial concerns regarding user activity and fees in late August, the platform staged a remarkable comeback in September. DeFi Llama reports that’s TVL skyrocketed by a staggering 540% over the past month, primarily driven by increased daily trading volume since September 9.

Further down the list, Base’s TVL is predominantly attributed to multi-network DeFi platforms such as Compound, Curve, and Uniswap.

Increased daily transactions

Notably, Base recently achieved an all-time high in daily transactions, reaching 1.88 million on September 14. This accomplishment firmly positions Base ahead of rival chains like Optimism and Arbitrum, which collectively managed almost 880,000 transactions on the same day.

While daily transactions have dipped to around 908,000 as of September 22, Base’s transaction ATH remains unbroken.

The post Base ecosystem expands by 97.21% as TVL surpasses that of Solana appeared first on CoinJournal.

- Adam Tracey
Top 30 Crypto Movies & Documentaries
Top 30 Crypto Movies & Documentaries

Have you had the itch to watch some movies about crypto? Maybe you like to learn a few things watching crypto documentaries, in either case this list has plenty of stuff to check out that should keep you entertained for quite some time.

Bitcoin: The End of Money as We Know It (2015)
From the days of bartering in early societies to today's modern highly-digitized money, this documentary looks at what exactly money means and how Bitcoin could be an alternative to currencies backed by little more than debt. While only coming in at around an hour, this brief yet informative film provides an interesting overview of bitcoin and how it could affect the concept of money in the world today.

The Rise and Rise of Bitcoin (2014)
Growing obsessed with the cryptocurrency Bitcoin after discovering it in 2011, a 35-year-old computer programmer takes you on a journey to explore this incredible technology and its impact on the world. Investigate this new technology through various stories from startups, entrepreneurs, and other colorful characters who make up the Bitcoin community together.

Crypto (2014)
If you’re looking for a little fictional crypto action, you may find it with the film Crypto from 2014. A banker becomes involved in an investigation of corruption and fraud after being demoted and transferred back to his hometown. You might enjoy this thriller with some action, drama, and cryptocurrency themes, including crypto mining.

Cryptopia: Bitcoin, And the Future of The Internet (2020)
Award-winning producer/director Torsten Hoffmann takes a closer look at Bitcoin and the evolving blockchain industry. He sets out to explore whether this technology, designed to operate without trust or centralization, can provide a viable alternative to the Internet as we know it. Through interviews with leading experts in the field, Hoffmann uncovers the potential of blockchain technology and its implications for the future.

Where Did Bitcoin Come From? – The True Story (2021)
ColdFusion is a great source for science, technology, history, and business content. It's an independently run Australian media company that offers calm, relaxed coverage of any and all topics you're interested in. Where Did Bitcoin Come From explores Bitcoin, where it came from, and why it all matters.

Trust Machine: The Story of Blockchain (2018)
Trust Machine is a documentary exploring blockchain technology's potential to change the world for the better. Featuring insights from some of the leading minds in the field, the film covers a wide range of topics related to cryptocurrency, blockchain, and decentralization. Whether it's solving world hunger or income inequality, Trust Machine showcases how this cutting-edge technology can make a real difference in people's lives.

Bitcoin: Beyond the Bubble (2016)
Explore the exciting world of Bitcoin! Here, people are in control of their own money for the first time ever – no banks or governments are required. But how did this digital form of currency come to be? How does it work? And is it here to stay, or just a passing fad?

Banking On Bitcoin (2009)
Find out about the players who are bringing Bitcoin and blockchain technology into the mainstream. Furthermore, explore the clash between different factions who care about this new technology for their own reasons.

The Bitcoin Gospel (2009)
While early on, Bitcoin was dismissed by many as a novel concept that was unlikely to go anywhere, times have changed as people around the world started to pay attention to this growing enigma. This documentary is a great look into the earlier days of Bitcoin and many of the people that were involved early on and shared Bitcoin with the world.

Hodl - A Bitcoin Short Film (2020)
If you enjoy a comedic short, Hodl is a great little watch, and it’s concerningly relatable to some of us in the cryptocurrency space while also holding a useful lesson or two presented in a fun way. It’s a quick one, but it’s worth your time.

Magic Money: The Bitcoin Revolution (2017)
Magic Money is another interesting documentary exploring the mysterious origins of Bitcoin and the questions still surrounding it alongside its potential roles in society. Will it shape the future in unforeseen ways? Is this the revolution for which we've all been waiting?

The Blockchain and Us (2017)
Is the concept of blockchain the modern equivalent of the invention of the airplane? Listen to interviews with software developers, researchers, cryptologists, and many more from a range of places on their thoughts about this intriguing technology. Use this documentary to start a conversation of your own or at least provoke more than a few thoughts on the subject of blockchain.

Deep Web (2015)
While not purely about cryptocurrency, Deep Web covers the story of the well-known Ross Ulbricht, and the Silk Road is one that catches the attention of many. Whatever your thoughts are on the topic, it's an interesting part of history that is worth understanding.

Banking on Africa: The Bitcoin Revolution (2020)
The banking system is something many of us take for granted, but for many people in Africa, this isn't the case. However, many in the region are turning to cryptocurrency not only as a potential solution but to take back even more control than traditional banking could provide.

CryptoRush (2020)
Have you ever felt confused when trying to understand the key principles involved in cryptocurrency, perhaps Crypto Rush could be the answer. This film attempts to explain crypto in an easy-to-understand way, making it approachable to just about anyone.

Bitcoin Heist (2016)
A film from Vietnam, BItcoin Heist is a fast-paced action film with a comedic twist. If you’re looking for something fun, this one might just be your ticket. Follow special agents taking on a team of thieves and the chaos that ensues.

Dead Man's Switch: A Crypto Mystery (2021)
A fantastic documentary film covering the disaster that was QuadrigaCX and its questionable founder Gerald Cotton. It’s got mystery, outrage, and even a few familiar faces you may have seen around the cryptocurrency scene. It’s a great option if you’re looking for a cryptocurrency-related documentary to check out!

Decrypted (2021)
If you’re a fan of dark comedies, you may enjoy Decrypted. The story involves a mismatched NSA team that somehow manages to kidnap the creator of Bitcoin to attempt to gain information to put an end to the cryptocurrency revolution.

NFT (2022)
Also known as CryptoHorrors in some regions, NFT is a movie about a group of friends buying into an NFT collection that just so happens to be cursed. If you’re feeling like some crypto-related horror, this might just be what you should watch.

Agent X the movie (2019)
Agent X is a movie about a former military contractor who has become a secret agent and is sent on a mission. However, things are rarely that easy, and he ends up tangled in a mess involving cryptocurrency, bitcoin mining, and much more.

Virality (2017)
In Virality, four stories intersect with a Bitcoin heist, each involving different characters dealing with their own struggles in a developing society.

Bitcoin: The End of Money as We Know It (2015)
Looking for a crash course on Bitcoin, money, and cryptocurrency more broadly. Well, check out this one for some insights to help you get up to speed if you’re new to the cryptocurrency scene.

StartUp (2016-2018)
While not a movie or a documentary, this TV show ran for several seasons and has moderately high production values, so if long-form productions are more the thing for you, check out StartUp, where cryptocurrency plays a significant role in the storyline. Better yet, you can likely find this crypto show on Netflix or other streaming platforms in your region.

The Great Reset and the Rise of Bitcoin (2022)
Another interesting documentary exploring the economic impact Bitcoin can have on society, money, and how we exchange value with one another in the future. As the gold standard has begun to feel like stone-age technology, is Bitcoin the way forward?

Monero Means Money: Cryptocurrency 101, Live from Leipzig (2020)
Are you a privacy advocate with an interest in cryptocurrency or someone already excited about the potential for Monero? In either case, this crypto documentary could be a great watch for you. Spend a little time with this one and find out why fungibility matters.

Trust No One: The Hunt for the Crypto King (2022)
Another deep dive into the chaos surrounding the QuadrigaCX collapse and its extremely questionable founder. Should you believe everything you hear? Or is there much more to the story than meets the eye?

The Second Target (2019)
If you don’t mind delving into the odd low-budget movie, this cryptocurrency film could be worth your time. Coming with some mixed reactions, it’s likely you’ll either love or hate this one, but why not find out for yourself? In either case, it’s always great to support these sorts of lower-budget adventures in film.

Finding Satoshi Nakamoto (2015)
An attempt to find the ever-mysterious creator of Bitcoin. Have they found the man himself, or is he still just as elusive as ever? While you likely know the answer, sometimes you can still enjoy the journey even if you already know the destination.

The Fakefluencer (2021)
Follow a man looking for answers after a cryptocurrency investment goes wrong. In a mockumentary format, this one is sure to provoke a few laughs and may even feel a little relatable at times if you’ve ever been in the same situation.

Crypto Stew (2019)
There are a few quirky short films where the subject and cryptocurrency, and this is one of them, it’s a pretty light-hearted affair that doesn’t take itself too seriously, but it is good for a quick laugh and will only snag a few minutes of your time.

Thanks for Reading

We hope you enjoyed this list as much as we did putting it together. Did we miss any of your favorites? Let us know! If you’re considering diving into crypto after checking out some of these, be sure to check out LocalCoinSwap if you aren’t already part of our great community.

- Adam Tracey
The Ultimate List of VPNs that Accept Crypto
The Ultimate List of VPNs that Accept Crypto

Are you looking to grab a VPN subscription but want to show your support for crypto simultaneously? As it turns out, many companies offering VPN services have jumped to support cryptocurrency payments, so you have an extensive range of options to choose from.


Official Site:
Accepts: Bitcoin, Ethereum, XRP

One of the most well-known VPN providers globally, ExpressVPN boasts high-speed servers in 94 countries, so you should be covered from just about anywhere. In addition, they have broad app support for everything from your iOS devices to your PC, enabling you easy access to ExpressVPN on any of your devices. While they don’t have a massive range of accepted cryptocurrencies, they support Bitcoin and Ethereum, which should keep most people happy. In addition, ExpressVPN tends to provide excellent support for those looking to bypass geoblocking for streaming services like Netflix or Hulu. ExpressVPN is known for having very decent speeds on most of their servers, so if you're looking for the fastest VPN on the market, depending on where you live ExpressVPN might fit the bill.

The Ultimate List of VPNs that Accept CryptoSurfshark

Official Site:
Accepts: Bitcoin (BTC), Ethereum (ETH), XRP, and Litecoin (LTC)

One of the comparatively newer players in the VPN game, Surfshark has grown to be quite a significant offering. They seemingly always have a deal going and like to stack on some bonus features to get a few extra eyes on their product. Unlike some other large providers, Surfshark doesn’t limit your device count and is quite competitively priced, making it one of the nicer VPNs to consider if you’re looking for a VPN company that accepts cryptocurrency payments. Speeds are typically very reasonable as well so you shouldn't run into issues there either. Surfshark is one to check out, especially with their recent launch of a full GUI Linux app which not many other providers offer.

The Ultimate List of VPNs that Accept CryptoProtonVPN

Official Site:
Accepts: Bitcoin (BTC)

If you’re a fan of Prontonmail, one of the best email providers around for the privacy-conscious, you might just find your answer to the best VPN for you in ProtonVPN. Sometimes it’s nice to be able to minimize your subscriptions and keep as many things bundled together to avoid you forgetting precisely who is offering you what, so if you’re already using Protonmail, it’s a bit of a no-brainer. Proton is big on privacy and security, has an excellent interface for their VPN if you prefer that visual experience, and a speedy 10Gbps server network offering respectable speeds. There’s even a free version on offer that doesn’t sponsor itself with advertising or farm your data; instead, it’s subsidized by paid subscriptions which is a great to see and a fantastic way to support those that can benefit most from a VPN but may not be able to afford a paid plan.

The Ultimate List of VPNs that Accept CryptoNordVPN

Official Site:
Accepts: Multiple

Another heavy hitter in the VPN realm, NordVPN, is another to consider if you’re looking for one of the big plays with a high server count. With one subscription, you can use up to six devices at the same time connected to NordVPN, which should cover the needs of most people. However, it’s still a noteworthy limitation that not VPN providers place on you. A 30-day money-back guarantee is offered, so they seem confident about their services which is always nice to see. If you’re a traveler regularly signing in from different regions, you’ll find yourself at home with a VPN like NordVPN that provides comprehensive coverage and high-server counts.

The Ultimate List of VPNs that Accept CryptoPrivate Internet Access (PIA)

Official Site:
Accepts: Multiple

PIA claims 15 million customers and over ten years in the industry, making them a fairly well-established company. One of the downsides of opting for the latest and greatest offering by new entrants to the VPN market is that you never know how long they will stick around. One of the more interesting features offered by PIA is a desiccated IP, which, if you’ve ever experienced frequent captchas on commonly used websites while connected to a VPN, you are sure to appreciate. Other excellent features include WireGuard support, split-tunneling support for more advanced users, and even open-source software, which many crypto enthusiasts like to support.

The Ultimate List of VPNs that Accept CryptoMullvad

Official Site:
Accepts: Bitcoin (BTC), Bitcoin Cash (BCH)

For those that value their privacy, often even signing up for accounts using personal information can be anywhere from a downer to a dealbreaker. However, if that’s something you hate, Mullvad could be a tempting VPN to consider. They openly encourage payments using cryptocurrencies or even cash, which is rare these days, especially for online companies to offer, let alone encourage. They claim to keep no activity logs or ask for any personal information, which is also encouraging. Support seems to be lacking if you’re looking for a VPN to stream via Netflix or other providers, so if that’s essential for you, consider other options that boast good support for bypassing geo-blocking. Mullvad also has an extensive range of repositories open-sourced over on GitHub, which is always great to see and not something many providers are confident or comfortable doing. If you’re big on privacy, Mullvad deserves a look.

The Ultimate List of VPNs that Accept

Official Site:
Accepts: Multiple

While a lesser-known VPN provider, provides a noteworthy service and has some benefits that may make it more appealing than more popular VPN options. They sport Dedicated bare-metal servers, WireGuard support, and excellent speeds due to their strong network that has managed to avoid such heavy traffic due to it somewhat flying somewhat under the radar. With support for over 20 countries, most users should find servers near enough to them to be worthwhile. With support for up to 12 simultaneous connections, you can throw all your devices on a single subscription, or at least six if you’re opting to use WireGuard.

The Ultimate List of VPNs that Accept CryptoAtlasVPN

Official Site:
Accepts: Multiple

For those a bit more budget-conscious, you may be wondering where the cheapest VPN can be found, and while some are priced better than others, going for bargain bin VPNs will often result in a bad experience. However, some VPN providers are making a name for themselves for both being well-priced and having some good features and service, and one of those is AtlasVPN. With AtlasVPN, you can expect affordable pricing (at least for now) and support for modern features like WireGuard alongside multihop servers. There are some missing features like Linux support in terms of their app and a smaller network, but that won't be a dealbreaker for everyone. Streaming is supported, which leads many people to look for the best VPN deal they can find, and if that’s you, maybe consider something with a lower price and a reasonable offering, and you may just find that in AtlasVPN.

The Ultimate List of VPNs that Accept CryptoPerfect Privacy VPN

Official Site:
Accepts: Bitcoin (BTC)

If you don’t mind paying a little extra, Perfect Privacy VPN may provoke interest. They offer some features that are a little harder to find and make a good choice for more advanced users that require a little extra. You can configure multi-hop VPN chains of up to 4 servers, enjoy unlimited connections, and rest a little easier with their no logs VPN policy, which they’ve been adamantly offering since back in 2008. However, one area that they reportedly don’t handle well is streaming, so this may put many potential customers off. However, while you don’t see this provider throwing money at excessive social media advertising or the never-ending on-sale cycle that many do, Perfect Privacy has established itself. It continues to be the VPN of choice for many, so if you don’t mind a few extra dollars a month on your VPN subscription and aren’t interested in streaming over your VPN connection, you may find a plan here to suit your needs.

The Ultimate List of VPNs that Accept CryptoOvpn

Official Site:
Accepts: Bitcoin (BTC), Ethereum (ETH), Monero

Like many Swedish VPN providers, this is another that is big on privacy. You may have guessed that already, though, given they accept Monero for payments allowing you to buy a VPN with Monero, which is pretty nice already. OVPN claims not to keep any logs, personal data, or monitor your online traffic. Interestingly they opt to use modern RAM storage, and this means that even if, for some reason, their servers were seized, they’d be unlikely to hold onto any information for very long as a simple reboot would clear any stored data. Another interesting thing about Ovpn is they don’t actually require an email address to sign up, and it’s optional when using Ovpn, which is not very common even among other VPNs that claim to be the best VPN for privacy. Four simultaneous connections are supported, multihop servers, WebRTC leak protection, and even a kill switch built into their desktop app, which they recommend over the browser extension they also provide. Overall a nice offering with OpenVPN UDP/TCP support and many features for those with a thirst for online privacy.

The Ultimate List of VPNs that Accept CryptoShould you use a VPN when Buying Crypto?

VPNs are a valuable part of your toolkit when trying to maintain as much privacy online as possible. While they are not a magic bandaid that ensures privacy, they can be beneficial as part of your online security, nor should you be careless in other ways thinking that a VPN will protect you. However, sometimes a VPN can be beneficial for crypto traders, especially if you live in areas that are not crypto-friendly or regions with unstable economies that may put you at risk of having your funds stolen or otherwise taken from you. So if you’re wondering which may be the best VPN for crypto trading, keep reading.

However, it’s important to note that when using a popular VPN, you may find that your IP address gets flagged when using some crypto trading platforms, which may result in issues or even your account being locked or otherwise restricted. At LocalCoinSwap, we respect your reasonable right to privacy and provided you are following the terms of service and trading fairly, you will not face any issues for simply using a VPN.

How to use VPN to Buy Crypto?

Once you have registered with your VPN provider and have everything set up, simply connect to a nearby server and log in to your account. If you’re going to trade crypto using a VPN, it’s crucial to spend the time to find a reliable and reputable VPN provider that ideally doesn’t keep logs and respects your privacy. After you’re connected to your VPN, you can simply continue browsing as you normally would, including trading on a P2P marketplace like LocalCoinSwap.

Can I Pay for a VPN with Bitcoin?

A growing number of VPN companies support payment via Bitcoin and other popular cryptocurrencies like Ethereum or even things like Monero, which many cryptocurrency enthusiasts will find a great option. As for actually performing the payment once you reach the checkout part of the sign-up process, once you’ve selected a provider and plan, it’s generally time to choose a payment method. So, if a company supports cryptocurrency payments, it will typically be offered to you at this stage.

What is the Best VPN for Crypto Trading?

For some people, their primary use case for a VPN may be streaming while avoiding geoblocking or for added privacy when trading crypto. For others, they may do everything online with a VPN and strongly value privacy. Budget can also be a significant factor, and a wide range of offerings fall somewhere between the biggest budget VPN through to the most premium VPN options. There’s a range of reasons to use a VPN, and not everyone will have the exact same needs, be in the same locations, or have the same budget. As such, the best VPN for crypto traders, or anyone else for that matter is simple, it's which ever one suits your needs while respecting your privacy the best.

- Adam Tracey
30 Cryptocurrency Books to Expand Your Knowledge
30 Cryptocurrency Books to Expand Your Knowledge

In the early days of cryptocurrency, it was challenging to find many books to soothe your thirst for more information. However, as cryptocurrency has grown into such a vibrant and thriving ecosystem of ideas and exploration, so have the options for good books on the topic. So, whatever you’re looking to learn about Bitcoin, blockchain, or cryptocurrency in general, you’ll find something on this list to add to your shelf.

Mastering Bitcoin: Programming the Open Blockchain

One of the most well-known Bitcoin books is Mastering Bitcoin by Andreas Antonopoulos, and for a good reason. It is designed to help you navigate the world of Bitcoin and understand everything you need to dive in headfirst and start embracing Bitcoin. It starts off with a broad introduction that is suitable for almost anyone and later delves into the more technical aspects of Bitcoin. So if you’re looking to increase your foundational knowledge or get a friend or family member excited about Bitcoin, this book is for you.

Author: Andreas Antonopoulos

The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology That Powers Them

Cryptocurrency and blockchains can be intimidating to those beginning to learn for themselves, but books like The Basics of Bitcoins and Blockchains are a great place to start. Start with the history and the basics of Bitcoin and other popular cryptocurrencies and move on to more advanced topics as you progress with what you’ve learned. Many topics are covered, including avoiding scams, risk mitigation, digital wallets, crypto regulations, and even the basics of using cryptocurrency exchanges.

Author: Antony Lewis

Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond

The book Cryptoassets gives you a range of insights into investigating and valuing digital assets, improving your portfolio management techniques, managing risk, and providing practical guides on various parts of the industry. While focused on the investment side of cryptocurrency, it may be a helpful way to see the cryptocurrency space from an investment perspective.

Author: Chris Burniske, Jack Tatar

Blockchain Revolution

Blockchain is an incredible technology shaping the world, and with Blockchain Revolution, you can see how this game-changing technology could affect the global economy. Blockchain has the potential to change how we deal with finances, health-care records, voting, insurance claims, and so much more. It’s a book that is approachable while still providing valuable insights. So if you’re worried about getting left behind by the revolution, jump into Blockchain Revolution yourself and learn more.

Authors: Alex Tapscott, Don Tapscott

The Age of Cryptocurrency: How Bitcoin and the Blockchain Are Challenging the Global Economic Order

Bitcoin has grown from a niche project to something that is affecting the global economy. Yet, while you can use it to purchase a range of goods and services and exchange value with others around the world, few understand what it is and why they should genuinely care about it. The Age of Cryptocurrency helps you navigate a cyber-economy and think about what the world will look like as further adoption of cryptocurrency continues.

Authors: Paul Vigna, Michael J. Casey

The Bitcoin Standard: The Decentralized Alternative to Central Banking

When Bitcoin first came onto the scene after an announcement on a small mailing list in 2008, no one had any idea of what it would go on to become. However, it has grown to be an economic and technological force that is shaking up the world in incredibly interesting ways over the years. Explore how humanity's most significant achievements have come to those with sound money and why Bitcoin helps to provide this security.

Author: Saifedean Ammous

The Book of Satoshi

The creator of Bitcoin is a mysterious figure, one that to this day has never been truly identified or proven to be any specific individual or group. The Book of Satoshi delves into the mystery surrounding this enigmatic character and helps piece together the available information about them. Satoshi Nakomoto launched the Bitcoin revolution and disappeared from the internet altogether. If you want to learn why this may have happened or just explore the mystery, this book may be an excellent fit for you.

Author: Phil Champagne

The Truth Machine: The Blockchain and the Future of Everything

The world has moved to a digital standard for just about everything. However, relying on these aging systems has put us in a position where we are less in control of our data than ever before. As a result, many are looking to move away from the legacy systems that control our data and regularly leak our valuable personal information. The Truth Machine explores how self-empowerment and much more is possible with the help of blockchain technology.

Authors: Paul Vigna, Michael J. Casey

Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money

The concept of a new currency that didn’t follow the rules of traditional systems that existed before it started out as a bit of an oddity, yet it has grown into a technology that spans a multi-billion dollar industry. People of all kinds from around the world are throwing their support behind Bitcoin as it has shown the potential to free its users from the restrictions and roadblocks that can result from relying on the legacy financial system. Digital gold starts by following the rise and early growth of Bitcoin through the eyes of many of the eccentric members of the community that took to this technology in its early days.

Author: Nathaniel Popper

Bitcoin Billionaires: A True Story of Genius, Betrayal, and Redemption

While many know of Tyler and Cameron Winklevoss from their involvement in Facebook in the early days, many in the cryptocurrency space know them for their participation and support of Bitcoin. However, after diving into the venture capital space and soon discovering that their past at Facebook was a roadblock, they found themselves faced with a new proposition of a technology that could be the biggest thing to come or nothing at all, and they bet big that there would be something to it, and were rewarded for their gamble. Learn more about how these brothers found themselves at the forefront of the early Bitcoin boom.

Author: Ben Mezrich

The Internet of Money

Many books on Bitcoin approach it from the angle of how, but not as many focus on the why, which is just as crucial to understanding the actual value of Bitcoin. Bitcoin affects more than the financial world, and Andreas explains why this new evolution is more than a digital currency. There are massive implications for Bitcoin, and perhaps it can grow to be just as powerful a technology as the internet has been for recent generations. If you’re open to exploring the more significant value propositions of Bitcoin, The Internet of Money is a book you should definitely pick up.

Author: Andreas M. Antonopoulos

Cloudmoney: Cash, Cards, Crypto and the War for our Wallets

Is cash being left behind due to the convenience of digital, or is there more to this push to remove cash from your wallet and have you filling your pockets with cards and phone with digital accounts that track every purchase? Cloudmoney tells the story of how cash has been under attack by big money lobbyists fed by tech and finance forces with an interest in moving the world to new forms of money. So what happens when we leave cash behind, is privacy doomed, and is the possible end goal of cloud money closer than we think?

Author: Brett Scott

Digital Cash: The Unknown History of the Anarchists, Utopians, and Technologists Who Created Cryptocurrency

While Bitcoin is often known as the first attempt at creating a digital currency, it’s actually only the first to catch on. However, behind this Bitcoin phenomenon, there is a range of exciting stories and even more interesting people who, through the years since the 1970s, have been exploring this concept in a range of curious ways. If you’re looking for something a little outside of the usual Bitcoin or blockchain books, this one might be worth a look.

Author: Finn Brunton

Blockchain Bubble Or Revolution: The Future of Bitcoin, Blockchains, and Cryptocurrencies

There are a lot of claims made when it comes to cryptocurrency, but the best way to discern for yourself where you stand is to look at both the strengths and weaknesses of this technology. By leveraging real-worth case studies, Blockchain Bubble or Revolution looks to cut through the hype and provide a more balanced and understandable analysis of what exactly is going on with cryptocurrency. Learn about everything from public to private blockchains and even what you should be prepared for as we move forward with blockchain into the future.

Authors: Parth Detroja, Neel Mehta, Aditya Agashe

The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze

In the early days of cryptocurrency, if you wanted to create your own, you usually had to create your own blockchain, and standing out when Bitcoin was a growing behemoth was challenging. However, with the launch of Ethereum, suddenly, things became a little more interesting. Tokens have become a standard part of the average crypto user’s vocabulary. This was made possible with Ethereum enabling developers to leverage an existing blockchain without having to bootstrap their own and attracting enough user base to sustain and secure itself. As a result, Ethereum pushed the cryptocurrency space into a new world where almost anyone could launch a token. This book attempts to show the struggles of the crypto market to adapt to the struggles for power, money, and culture.

Author: Laura Shin

The Crypto Book: How to Invest Safely in Bitcoin and Other Cryptocurrencies

If you’ve heard of cryptocurrency and want to learn more about the potential for investments in the crypto market, this book is for you. Find out what exactly all this crypto stuff is, why it exists, and where the industry might be moving in the near future. In addition, it covers many common mistakes made by new crypto investors and attempts to educate you on safely exploring investment opportunities in the crypto market.

Author: Siam Kidd

Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction

Want an introduction to the often misunderstood world of crypto? This self-contained book might be a good starting point as it explores crypto and what some are calling the new global money for the internet age. As a newcomer to crypto, you’ll likely have many questions. This book covers a lot of areas that will hopefully help you better understand important aspects of crypto like decentralization, altcoins, Bitcoin, blockchain, and a lot more. It is supported by a website that enables you to take what you’ve learned to the next level by providing companion videos for each chapter and even problems for you to go off and solve as you learn.

Authors: Arvind Narayanan, Joseph Bonneau, Steven Goldfeder, Edward Felten, Andrew Miller

The Truth About Crypto: A Practical, Easy-to-Understand Guide to Bitcoin, Blockchain, NFTs, and Other Digital Assets

If you’ve been looking for a fun and easy-to-follow introduction to digital assets across a broad spectrum of the blockchain ecosystem, you may find yourself being drawn to The Truth About Crypto. Explore the difference between cryptocurrency and other types of digital assets that provides a broader perspective on what precisely these assets can do and why they might be appealing to you as an investor in the space.

Authors: Ric Edelman

Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies

We often take money for granted regarding how it actually works. What Layered Money attempts to investigate is how money has evolved over time to become layered. From gold to digital currencies, the lines begin to blur as to what exactly money can mean. If you want to investigate for yourself how Bitcoin has started a massive shake-up of our international monetary systems to the stage where central banks are exploring creating their own blockchain assets and digital currencies.

Author: Nik Bhatia

Blockchain Basics: A Non-Technical Introduction in 25 Steps

Depending on how you learn, you may find that breaking down a concept like a blockchain technology into a series of digestible and approachable steps is a fantastic way to increase your knowledge. You can skip the jargon and complex math; instead, just work your way through this book which makes an effort to bridge the gap between highly-technical explanations and the business side of blockchain. Start with the core knowledge needed to understand what a blockchain is all the way through to major application scenarios that can have you well on your way to being an informed and active member of the crypto community.

Author: Daniel Drescher

The Blocksize War

Between 2015 and late 2017, there was a lot of commotion in the Bitcoin community, something that is now often referred to as the Blocksize War. While it was easy to look at this from the outside and assume it was simply a passionate debate about the amount of data that should be allowed in each Bitcoin block, it raised a lot of questions. With some prominent players throwing their weight around and conflict spilling out beyond the Bitcoin codebase, there is a lot to explore when it comes to who was making noise, their motivations, and where all this went in the end.

Author: Jonathan Bier

Cryptocurrency Investing for Dummies

While the “for Dummies” series of books has become somewhat of a meme, many of them provide easy-to-approach information that is easy to understand and digest. The book Cryptocurrency Investing for Dummies allows you to go from a passing interest to have a grasp of some of the things you’ll need to navigate the cryptocurrency markets. Find out how to speculate on the top cryptocurrencies no matter the market conditions or sentiment and navigate the new thriving cryptocurrency markets that never sleep.

Author: Kiana Danial

The Book of Crypto: The Complete Guide to Understanding Bitcoin, Cryptocurrencies, and Digital Assets

If you want an introduction to crypto that takes you beyond the rudimentary and touches on interesting topics like DeFi, NFTs, and many other curious topics, The Book of Crypto could be your answer to scratching the surface. The crypto ecosystem is growing in complexity as new and experimental ideas are playing out on the center stage. It’s easy to feel like you’ve been left behind as the crypto space pushes forward, but you can get on top and start understanding the potential impact on the future of money and how cryptocurrency can take us there.

Author: Henri Arslanian

Mastering Ethereum: Building Smart Contracts and Dapps

Again Andreas enters the list with another high-quality offering that you shouldn’t miss. Start with learning the basics of running an Ethereum client and progress all the way through to building your own decentralized applications that leverage multiple P2P aspects. Companies worldwide are exploring Ethereum and EVM compatible blockchains, and now you can use Mastering Ethereum as your gateway to becoming a part of that yourself.

Author: Andreas Antonopoulos

Understanding Bitcoin & Cryptocurrency: Beginners Guide to the Crypto Revolution

Suppose you’re interested in gaining the information to make informed decisions about Bitcoin and cryptocurrency in general. In that case, Understanding Bitcoin & Cryptocurrency may help you achieve more awareness and understanding of this new phenomenon. Furthermore, the blockchain scene is constantly growing, and if you decide to start checking out books like this, perhaps you can start growing your knowledge of blockchain.

Author: Martin May-Clingo

The Blockchain Developer

Blockchain development is becoming increasingly in demand. Suppose you are one of the few that understand how to build with blockchain technology and build your own scalable blockchain projects. In that case, you’ll be well-positioned to become an integral part of the blockchain community. Find out how you could use Bitcoin, Ethereum, NEO, EOS, and Hyperledger to begin your own projects and immerse yourself in what it is to be a blockchain developer.

Authors: Elad Elrom

The Infinite Machine: How an Army of Crypto-hackers Is Building the Next Internet with Ethereum

While we’ve touched on many Bitcoin and blockchain books in this list, many intriguing books are jumping into Ethereum that are worth your time. One to consider is The Infinite Machine, as it starts with the creator Vitalik Buterin and follows the ideas as they unfold and the chaos that sometimes results. Step through the technology and innovation to see what was unleashed as Ethereum grew to the point where it now supports thousands of independent projects and is considered one of the biggest blockchain projects in the world.

Author: Camila Russo

The Business Blockchain

Many people become curious about the business potential of blockchain, and this book aims to quench that curiosity. Find out some of the new business models and possibilities that blockchain brings to the table, and perhaps inspire your own ideas for this innovative space. Then, progress through seven chapters to get a grasp on why blockchain matters for business and where it could take you.

Author: William Mougayar

Cryptocurrency Mining For Dummies

While this is the 2nd entry to this list from this range of books, it should be no surprise given how broad the topics this series strives to cover to see more than one about cryptocurrency. While many beginners to crypto are quick to jump in and start performing transactions, others find themselves enamored with this so-called “mining” used to generate new cryptocurrency on many blockchains. With this book, you can find out what this actually means, how you might be able to do it yourself, and whether or not you’ll need a pick and shovel to get started.

Authors: Peter Kent and Tyler Bain

Bitcoin Money: A Tale of Bitville Discovering Good Money

Have you wanted to broach the concept of Bitcoin with your children, or maybe you want a gift for a Bitcoin-crazy friend that has children? In either case, Bitcoin Money could fit the bill. Explore different kinds of money in a story suitable for all ages, and you never know, you might just learn something new yourself about this magical internet money.

Author: Michael Caras

- Adam Tracey
Cashing Out Your NFT Gains
Cashing Out Your NFT Gains

If you’ve been looking at the NFT market for the first time and wondered how you could convert these digital assets into real cash, you may be confused, especially if you are new to the crypto markets. Thankfully, there is a very approachable pathway from having an NFT in your wallet to converting it to cash that you can physically spend in the real world.

Can you Get Cash for an NFT?

As the NFT market has grown significantly in recent years, many traders wonder if you can get cold hard cash for your NFTs. While you may find someone willing to buy your NFT for cash directly, that isn’t typically an easy thing to do. However, you still have options to get some money for your NFT with a small amount of additional effort and a little crypto knowledge.

How can you Sell an NFT for Cash?

The first step is to convert your NFT to a popular cryptocurrency like Bitcoin or Ethereum. Doing this has varying degrees of difficulty depending on the network on which the NFT is based and how popular that specific NFT is, which can affect demand. Opensea is a popular NFT marketplace, and often a great way to complete this first step is to use this or another NFT marketplace to list and sell your NFT for crypto.

Once you have some popular cryptocurrency instead of the NFT, you now have reached the second stage of the process, where you can move on to convert it to cash. While many order book exchanges only offer limited payment options and typically never support cash trading, it’s not the only option. LocalCoinSwap is one of the most popular P2P marketplaces and is one of the only options available for trading cash-in-person or cash-by-mail. If you want other payment methods like PayPal, bank transfer, or just about anything else, P2P trading on LocalCoinSwap is perfect for you as well.

Simply head over to LocalCoinSwap and browse thousands of offers from vendors around the world. Once you find an offer that meets your needs, you can follow the prompt to cash out your NFT profits fast. It doesn’t have to be challenging to lock in profits, and just because you started with an NFT doesn’t mean you can't end up with cash either.

How Much does it Cost to Transfer an NFT?

While in the early stages of the NFT boom, you would only really see NFTs being minted on Ethereum, but that has long since changed, with a range of blockchains providing support for tokens and NFTs specifically. As a result, there isn’t a clear-cut answer to this, but it is easy enough to get a rough estimate. For example, if you want to transfer an NFT on Ethereum, you can use the Etherscan gas tracker to get an idea of how much to expect to pay when performing token transfers on the network. For other established blockchains, you’ll be able to find similar tools without looking very far either.

Where can I buy an NFT with Cash?

While you may, in a rare case, come across someone willing to sell you an NFT for cash directly, the better route to take is by first converting cash to a commonly accepted cryptocurrency. For example, you can start with cash and then use a P2P marketplace like LocalCoinSwap to convert it to crypto via several different payment methods.

If you can find local bitcoin traders operating in your region, this can be a great option, but if you do not or you’d prefer not to meet directly, there are plenty of other payment options available. For example, you could trade using a cash deposit or cash-by-mail, and there are plenty of different approaches as well. Getting funds into the NFT market is easy when you start with a P2P trade; you’ll have some crypto ready to go in no time.

How Much Does it Cost to Sell an NFT?

If you are trading with someone directly, you’ll only have to account for the network fees. However, this is never recommended as it’s highly likely the other trader will scam you as there’s no reason for them to hold up their end of the deal once they’ve received your NFT. Most NFT traders use an NFT marketplace to exchange their NFTs for fungible cryptocurrency to avoid this. How much specific marketplaces can vary, and it’s always best to check their website for the fees listed before selling your digital asset on that marketplace.

The Best Way to Cash out Your NFT Gains

Peer-to-peer marketplaces are the best way to cash out your fungible cryptocurrency and gains from your NFT trades. Additionally, suppose you are willing to accept less commonly found payment methods. In that case, you may even find yourself able to make an additional profit as you sell your NFT for cash, thanks to the natural supply and demand dynamics that occur in a P2P marketplace.

Start exploring P2P trading with free crypto guides or just jump right in over at LocalCoinSwap and find out why so many traders opt to trade P2P.

- Adam Tracey
Top 5 Cryptocurrency Debit Cards
Top 5 Cryptocurrency Debit Cards

If you’ve been in crypto for a while, you’ve likely heard about these cryptocurrency debit cards doing the rounds but simply don’t know where to start looking. While there’s a range of options, crypto debit cards aren’t a one size fits all solution as most of them only support specific regions and cryptos. So it’s time to find out if adding a crypto card to your wallet is a plus or a bust to add to your trading toolkit.

While P2P trading is often a far better option as it provides you extremely high flexibility to get paid or send payment in whatever way suits you, it’s always good to know what options are out there for expanding your ability to trade your crypto in and out of the markets. None of the following should be considered endorsements and is based on publicly available information. Always do your own research before putting your cryptocurrency somewhere new or handing over personal information.


One of the older players in the crypto debit card space, Wirex, has been around for some time now. So If you’re looking to spend money on one of these cards, having a company that has been around a little longer is a good way to ensure you aren’t likely to face a sudden shutdown or discontinuation of service in your region.

Wirex cards are supported in 130 countries, enable you to use over 150 cryptos and fiat currencies, and boast several million customers.

You can earn up to 2% cashback on in-store or online purchases via their Cryptoback rewards program that pays out in their token WXT, which is a great value add to users of the Wirex cards. Top-ups can be performed several ways using crypto but can also be performed via your other debit or credit card if that’s something you’re interested in doing.

With no monthly maintenance fees and even some free ATM withdrawals up to $400 a month, the Wirex card can be one of the best crypto debit cards to consider. Just be sure to investigate your specific spending habits to ensure that you won’t get caught out by any unexpected fees, as pricing lacks a little transparency. In addition, you’ll likely find that some additional costs are creeping into the spreads on conversions between crypto or traditional fiat currencies, so that’s something to consider.

Top 5 Cryptocurrency Debit Cards

Want a crypto debit card with broad support for a wide range of currencies and locations? Then, Wirex might tick your boxes.


A newer entry to the cryptocurrency debit card list is the Crypto Card from Unbanked. Unlike many others that rely on apps to support their card with few other options to fund the card. The Unbanked debit card enables you to fund your card using the Visa Readylink program via direct deposit or cryptocurrency transfer. So while you may be looking for a bitcoin debit card or something specific, the Unbanked card offers you more options.

One of the things to be aware of when looking into the debit cards offered by Unbanked is that funding your account results in the funds being converted to their token UNBNK. The main concern with this is that you’re exposed to the volatility of the cryptocurrency, which may be something that you consider outside your risk profile.

Unbanked offers support for several different cryptocurrencies when funding your account, including some less common options like Uniswap (UNI) and Basic Attention Token (BAT, alongside staples like Bitcoin (BTC), Tether (USDT), and USD Coin (USDC). Currently, it appears that cards are available to customers in the United States, Europe, and Latin America, which covers some notable areas but won't be suitable for everyone.

Top 5 Cryptocurrency Debit Cards

Like the flexibility of having multiple ways to fund your card and live in a supported region? It could be that the Unbanked debit card catches your attention.


If you’ve been checking out using bitcoin and other cryptocurrencies online, you’ve likely been face-to-face with Bitpay in the past. While better known for their payment processing solutions for merchants, they also offer a popular crypto debit card. Like Wirex, Bitpay has been around a long time and is very much well-established, so it is less likely to just fall off the map suddenly as can be the risk with some of the latest options.

Boasting fast reloads, flexibility, high security, broad access, and rewards, the Bitpay card can be an excellent option to investigate when searching for the top crypto conversion cards. Bitpay relies heavily on their app, which, to be fair, these days is not uncommon but is something that may irk the more hardline users looking for a more traditional experience.

On the other hand, with the app, you can get set up with a wallet quite fast, have it loaded, and be on to ordering your card in just a couple of minutes. So if you’re looking for a prepaid MasterCard that can enable you to spend your crypto backed by one of the older companies in the crypto space, Bitpay could be the answer.

Top 5 Cryptocurrency Debit Cards

Want a debit card to convert crypto from a reputable brand in the space? Then, the Bitpay crypto debit card could be the answer.

If you’re looking for something a little flashy with all the bells and whistles, the crypto debit card might be for you. While one of the newer entries to the market, this card is already one of the most popular and is also one of the most competitive options in terms of fees.

While cashback has been offered on spending there are report reports of rewards changing for the worse recently, so be sure to check for official announcements before looking further. No annual fees, and their card is actually made of metal, something you likely know if you’ve seen any of their abundant marketing since their card launched. Like some other cards, such as the card offered by Wirex, you can also top up your card with fiat, alongside a range of cryptocurrencies. There’s also a range of “tiers” of cards, so if you’re considering this one take a close look and be sure to check the fine print to understand exactly what you’re getting yourself into.

Again the app is very strongly connected to the card, with the card acting more as a secondary product, albeit a well-rounded one. The app features a range of features, including paying interest on some cryptocurrencies stored in the wallet, though this appears to require you to stake some of their token Cronos (CRO).

Top 5 Cryptocurrency Debit Cards

If you’re looking for one of the newest entries to the market, check out the crypto debit card offered by


For those of you that like to leverage the value held in your cryptocurrency without having to sell them, the Nexo card is an interesting offering. Using your Nexo card, you can spend the value of the crypto stored in your Nexo wallet; this offers a more unique alternative that feels more like a credit card than it does just another crypto debit card.

Rewards are also quite good with a Nexo crypto card. For example, you can receive an instant 2% cashback on purchases. In addition, using Nexo, you can earn quite good interest with claimed rates of up to 17% of annual interest. Unlike most other companies with similar offerings, Nexo offers a daily payout and enables you to withdraw your funds at any time. However, like all of these lending and rewards programs, it’s crucial you take the time to understand any downsides or potential risks associated with them. It's not something you should jump into without adequate understanding.

If you think Nexo might be a good choice for you, we have some great news! You can trade Nexo tokens P2P over on LocalCoinSwap, enabling you to experiment with all that Nexo offers while trading Nexo tokens on the most popular non-custodial marketplace.

Top 5 Cryptocurrency Debit Cards

If you find crypto lending an interesting idea and want to access the value in your assets without selling them, perhaps the crypto debit card available from Nexo may suit you.


While there's a range of cryptocurrency debit card options they all have their pros and cons, and many are only available in specific regions. The best thing to do when trying to decide on a crypto card you may be interested in is to first decide what's important to you, which cryptos you want to use, and continue on by investigating the many options available with these things in mind.

If you do decide to get yourself a debit card that supports crypto exchange, be sure to check back in now and then to ensure you're still getting a good deal, don't be afraid to mix things up if a better option comes along in the future!

- Adam Tracey
Buy & Sell Crypto with Cash by Mail
Buy & Sell Crypto with Cash by Mail

While cash-in-person trading is still a popular choice for many, one less explored option is growing in popularity as traders realize they can gain many of the same benefits while avoiding the potential downsides that can sometimes come with other types of crypto for cash trading.

What is Cash by Mail?

Cash by mail simply describes sending payment in the form of cash by using the postal service, couriers, or other delivery agents. It’s an excellent payment method for trading P2P as it enables a straightforward way to convert crypto to cash or purchase crypto using cash.

Buy & Sell Crypto with Cash by MailWhy Might you Consider Trading with Cash by Mail?

Cash trading is revered for its increased potential for privacy among P2P traders. Especially in regions where financial security and privacy as crucial to your well-being. While one of the oldest ways to trade bitcoin and other cryptocurrencies, cash trades are still highly prevalent.

When trading in person with cash, you have to accept that you’ll likely be filmed during your meeting when trading in a public place. When dealing with money by mail instead, you can avoid this concern and reduce potential issues you can face when meeting with a person in a public place for any kind of exchange.

If you live in a region where the postal system is typically reliable or have access to suitable courier services, cash by mail can be an excellent option to consider when converting your cryptocurrency to cash or getting some money into the market quickly.

How to Trade with Cash by Mail Near YouHead over to LocalCoinSwap and use the search bar to filter for cash by mail trades and select a suitable location.Sort through the available offers and see if any match your preferences; just be sure to read the offer terms of each trade you find interesting.Once you find a suitable trade, press the buy or sell button, and you’ll be prompted to input the specific amount you would like to trade.If the other trader accepts your trade request, simply follow the prompts to complete your first trade.Buy & Sell Crypto with Cash by Mail

If you cannot find a suitable trade offer, you can create your own offer by selecting the create offer option from the menu. It takes just a few seconds to create an offer and have it live on the marketplace for other traders to find.

Tips for Receiving Cash in the MailRecord yourself opening the package in one complete takeConsider using a post office box for increased privacy when possibleChoose reputable vendors to minimize the potential for disputesEnsure someone is available to collect the package when its due to arriveAsk the vendor to include a custom note to avoid third party shipmentsDon’t finalize trades before receiving your packageTips for Sending Cash in the MailFilm the packaging process in one complete takeDon’t cut corners and package up cash at the post officeUse insurance and licensed couriers where possibleMark the package in unique ways to make disputes easierBe discrete, and don’t make it obvious you are shipping cashAlways send with tracking, so the package’s journey is transparentDisputes when Trading with Cash by Mail

When buying bitcoin or other cryptocurrencies from an experienced and active P2P vendor that offers cash by mail trading, you are unlikely to run into disputes frequently. However, as with any form of exchange, it’s always good to plan ahead if it does happen one day.

The biggest thing to be aware of when performing these types of trades or sending cash in the mail for any reason is that being transparent and recording the critical parts of the process can help protect you later, which goes for both sides of the trade. Whether you’re the buyer or the seller in the transaction, recording your interactions with the package is crucial to protect yourself and show that you are playing your part honestly.

For example, before opening cash by mail packages, you can grab your phone and film yourself opening it, or if you have someone else around to assist you, have them hold the phone for you. It might feel excessive when you think about doing this, but you’ll undoubtedly feel differently about that if a trade goes to dispute. Also, showing the package is completely sealed and opening it in the same clip without any cuts can clearly show the state you received the package and what you received inside it.

If you’re considering becoming a cash-by-mail vendor, making an effort to record your packaging process is also vital for you. The only difference is you want to film yourself packaging the money and sealing it in the package before shipping. Recordings like this can make a huge difference in having a dispute resolved in your favor swiftly without excessive back and forth, especially if the other party hasn’t done the same and wasn’t as organized as you.

Is it Legal to Send Cash by Mail?

In many regions, it is legal to send cash by mail. However, many areas have restrictions on the amount of money you can send or how it should be handled when packaging or sending. So be sure to check your local rules and regulations before sending cash in the mail, whether that is for a crypto transaction or anything else for that matter.

Can you Trade Cash by Mail Internationally?

Cash by mail trades are best performed when you are situated reasonably close to the counter party to avoid excessive postal delays. Typically being in the same state or territory as the other trader will be enough for a smooth experience. As a result, it’s not typically recommended to trade using cash by mail when trying to trade internationally. It may even be against the laws of the countries involved. It’s always best to use payment methods suited to your circumstances or preferences, and in this case, many other payment methods are better suited to cross-border payments.

Buy & Sell Crypto with Cash by MailShould you use Tracking?

Tracking is essential for cash by mail trades. It helps keep track of where the package is and when it was initially shipped and delivered. Not only will you be able better to keep track of these critical parts of the trade, but your trading partner will also be happy they can follow along as well. Also, in a dispute, it will be easy to show the history of that package to get the trade resolved as fast as possible. Tracking is inexpensive and should never be disregarded, and it’s always important when sending anything valuable, especially money.

Is Cash by Mail Safe?

In many parts of the world, there are relatively reliable options for posting valuable items, be that through the traditional postal system in the region or via things like third-party courier services. Many traders opt to use package insurance to help protect against losses should the package get lost in the postal system. If you live somewhere where mail frequently goes missing or is otherwise interfered with, cash by mail may not be suitable for you. Still, it’s a reliable way to trade in many parts of the world that can sometimes even be faster than a bank transfer between different banks.


Cash by mail is an often overlooked way to trade crypto privately, especially when using a post office box. So if you’re someone who values the benefits of dealing in cash but doesn’t like the idea of trading in person or would just prefer the convenience of cash by mail, this payment method might be perfect for your next trade!

- Adam Tracey
Charities You Can Help with Crypto Today
Charities You Can Help with Crypto Today

Many of us have had the opportunity to be exposed to such rapid growth in the crypto community; in some cases, it’s even been life-changing for many people. So if you feel like you should share some of what you’ve gained from crypto, or maybe you just have a little more than you need, donating to charity is an excellent way to help others.

Donating to a charity that accepts cryptocurrency can be a way to give while supporting something important to you already, cryptocurrency. Thankfully, a growing number of charities are now realizing that accepting crypto donations can really make a difference, and so can you.

Backpack Bed for Homeless

A charity that provides sleeping bags and backpack beds to those in need, Backpack Bed for Homeless offers practical help to those in need. Providing shelter enables those in need and sleeping rough to stay warm and receive at least a hint of comfort. In addition, you can donate multiple types of crypto and help make a difference to homeless people. If you are eligible, you may even be able to receive a tax deduction, which is always a welcome bonus that can be even better when you’re helping someone.

If you want to help someone struggling even to stay warm, Backpack Bed for Homeless is a way you can do just that and help people feel just a little bit safer.

Save the Children

Working to protect children in desperate situations from starvation, diseases, and other disasters, Save the Children helps kids in 116 countries worldwide. They also help produce resources to help spread essential information about health, education, child protection, and humanitarian issues. With a mission to prevent preventable causes of death in children while ensuring they also have the essentials like education covered, Save the Children is an easy cause to get behind.

Save the children has been accepting bitcoin donations since 2013, so if you want to support their efforts, check out Save the Children, you can donate with a range of cryptos.

Habitat for Humanity

Having a home of your own is an incredibly powerful thing, and this is something that Habitat for Humanity strives to provide. As a not-for-profit housing provider for low-income families and other vulnerable people, Habitat for Humanity helps access safe shelter, water, sanitation, and some of the essentials we need as humans to thrive. They’ve helped over 39 million people, and over a million people have volunteered for their projects.

For many of us, a home is something we take for granted; for many others, the idea of a home is a dream that seems too far away. So maybe it’s time to see if Habitat for Humanity can help you spread some kindness with a crypto donation.

The Water Project

Water is essential for all of us to survive. Yet, access to clean drinking water is still not available to everyone. Access to clean water sources can make or break a community, and the results can be devastating. It’s impossible to focus on education, work, and supporting your family when your most basic needs like water aren’t being met, which is a massive problem The Water Project is trying to solve. When donating to this charity, you can even choose directly to contribute to specific communities, which can help you feel better connected to where your donation is going.

The challenging work performed by The Water Project affected hundreds of thousands of people, and you can help them affect more people by donating some of your cryptocurrency.

Red Cross

If there’s a charity that almost everyone has heard of before, it’s definitely the Red Cross. The goal of the Red Cross is to relieve causes of suffering around the world. Whether through blood drives, responding to natural disasters, and so much more. Another area where the Red Cross places a lot of effort is training people with life-saving skills, be that CPR, swimming, or other potentially life-saving training. The charity relies heavily on donations and volunteers to perform the work they do, so your donations can help this charity reach more people and affect their lives in positive ways.

For those interested in putting their crypto to work, the Red Cross may be an excellent solution the next time you’re looking for a worthy cause to support after.


Healthcare is important for all of us, yet many people don’t have access to public healthcare solutions or have the ability to afford medical insurance. Watsi allows you to directly affect the lives of others by funding life-changing surgeries for people around the world. It’s hard to argue that everyone should be able to get the medical help they need, and should you choose to donate, you can help make sure someone is getting the treatment they need.

If a direct cause and effect are important to you when donating to charities that accept bitcoin or crypto in general, Watsi might just tick some boxes for you.

Rainforest Foundation

Supporting indigenous and traditional communities that inhabit the world's rainforests helps protect the people who live there and enables them to better foster these beautiful parts of the world. Sustainability is the key to the future of rainforests, and with the changes happening to the world around us, sometimes it’s important to remember the massive value they provide.

If you’re interested in supporting important cultures and isolated communities while helping to protect the lands they inhabit, the Rainforest Foundation could be perfect for your next crypto donation.


While this charity has an interesting name, it’s also a strong meaning. In Swahili, the word means ‘we are growing. Tunapanda runs technology and other educational courses in struggling parts of East Africa. With a goal to train lifelong learners, Tunapanda helps people empower themselves in ways that can change their lives.

Education, collaboration, and building stronger communities are possible through education, and your donation may just be able to help with that at Tunapanda.

Encourage Your Favourite Charity to Accept Crypto

If you have a charity that you love, consider suggesting they consider accepting crypto the next time you donate. It shows that demand is there and helps grow the options for the cryptocurrency community to donate directly in a way that feels right for them.

For all of us who have more than we need, there are always many more people who don’t even have enough help to get themselves the necessities or people trying to change the world in powerful ways that could use our support.

- Adam Tracey
Top 10 Best Play-to-Earn Crypto Games
Top 10 Best Play-to-Earn Crypto Games

Recently, one of the driving forces in gaming is exploring new models of gaming that aren’t just filled with micropayments and instead leveraging the power of blockchain technology to create experiences that can be fun and give their players the potential to own digital assets or even earn some money.

It’s time to jump in and find out why play-to-earn games are booming and becoming one of the most entertaining parts of the cryptocurrency revolution. Just be sure to always do a little extra research, especially before investing in play-to-earn games.

Axie Infinity

Build and refine your team of Axies to go to battle with other players. One of the most well-known blockchain-based crypto games, Axie Infinity, is a fantastic option for those looking for a fun PVP experience. The only major con for Axie Infinity is that it can be a little expensive to get started. However, battle winners are rewarded with SLP (smooth love potion), which has a strong economy in the Axie Infinity marketplace and can easily be exchanged for fiat in third-party markets due to the demand by the community around this game. You can also use SLP to breed your Axies to grow your team further.

If you’re looking for a polished PVP experience with a thriving player base, don’t mind spending some money to get started, Axie Infinity is probably for you and can easily be considered one of the most popular NFT P2E games!

Spider Tanks

Collect in-game resources, upgrade your stats and weapons, and jump into the battle arena in this PVP battle brawler. Play a range of game modes and have fun demolishing the competition alone or as a team. You can even buy special edition tanks, weapons, maps, and or other accessories in the form of tradable NFTs. It’s even got great graphics to ensure you’re making the most of your gaming experience.

If you like games like Rocket League or World of Tanks, maybe this battle vehicle free-to-play with a play-to-earn model is an excellent fit for you. So why not give Spider Tanks a try.

Gods Unchained

As an Ethereum-based P2E trading card game on the blockchain where each game card is an NFT, Gods Unchained takes the cake. If you’re nostalgic about the old days of trading Pokemon cards with your friends, maybe it’s time to get back into trading cards with a modern twist. You can even get started for free, with all new players getting a pack of cards to start playing. It’s great to see this P2E game which is also a great free-to-play option.

Do you like Hearthstone and other collectable card games? Then, Gods Unchained might be what you’re looking for in a crypto card game.

The Sandbox

What originally started as a 2D pixel art game back in 2012 for mobile devices has transcended into the blockchain space to become one of the more prominent players in the growing metaverse ecosystem and one of the P2E games you’ll likely hear more about as development continues. The Sandbox throws players into a virtual world. You can own land, monetize your virtual assets, and explore novel gaming experiences. While still considered alpha software, this game has already had some extensive collaborations with popular artists and brands.

The Sandbox economy runs on a token called SAND which operates on the Ethereum network. Even at the early stages of this project, large amounts are being spent on in-game assets, so if you’re interested in making your mark in the metaverse, The Sandbox is worth a hard look.

For lovers of Minecraft and Roblox, The Sandbox might scratch that itch for more voxel gaming glory.


If you’ve been looking for a trading card game that won’t need hours just to play through a game, you might want to check out Splinterlands. With the rapid pace of games, you can complete one in just a few minutes. With over 500 cards and growing, there’s plenty of variety to keep you entertained. Combine cards, convert cards to crypto and exchange your cards to build the perfect collection. You can even rent cards if you’re more of the yield farming type, a phrase you probably didn’t expect to hear associated with a collectible card game.

A hive cryptocurrency wallet is created for you after registration, and this allows you to jump right in and get started with this blockchain game. To avoid being too locked into one blockchain, it features cross-compatibility with additional blockchains like Ethereum, Tron, and WAX which is well known in the NFT scene.

Do you enjoy Magic the Gathering and other collectible card games? Maybe check out Splinterlands.

Alien Worlds

Alien Worlds has a lot to love as a play-to-earn game built on top of the WAX blockchain. Plots of land across several worlds are accessible to players in the form of an NFT. In addition, Trillium, the in-game currency, can be collected, staked, and even transferred using BNB Smart Chain.

Buy, sell, and rent virtual land and explore new forms of social governance; there's a lot to explore in Alien Worlds. You can also complete intergalactic missions, collect a range of tools, and explore the Alien Worlds universe in this NFT Metaverse game.

If EVE Online or No Man's Sky got you excited, Alien Worlds might be your new favorite space simulation game.

Plant vs. Undead

Set on Planet Plants, Plant vs. Undead is a blockchain game with a mobile-first approach that offers an excellent opportunity for the more casual gamer to explore the play-to-earn model. After a meteor crashed into the planet, many of the resident creatures became zombie-like creatures that spilled out into this cartoonish wonderland.

Unlike many of the games in this list, the primary way to play Plants vs. Undead is on your mobile device, whether Android or iOS. There's talk of other versions potentially launching in the future for PC and consoles, but this doesn't appear to be the case quite yet. While you are encouraged to expand your experience via trading PVU tokens (BEP20 tokens on BNB Smart Chain), you can start playing Plant vs. Undead for free as you will be provided a Mother Tree to protect alongside six plants used in defense.

If you find tower defense games a winner and like games such as Plants vs. Zombies (a clear inspiration for this one), perhaps it's worth checking out this PvE and PvP game, Plant vs. Undead.


One of the staples of the growing metaverse concept is absolutely Decentraland. If you like the idea of a virtual world where you can interact and make it your own, this is one to check out. With a range of carefully crafted environments to explore, there’s more than enough to lose yourself in for hours.

Players wanting to take things to the next level can leverage the Builder tool to create their own digital assets and even participate in some of the events held in the Decentraland community. For creators looking to make their mark (and some money in the Decentraland marketplace) or blockchain entrepreneurs looking to start a collection of land and other in-game digital goods, this ethereum backed play-to-earn game is a fascinating option.

Were you big on Second Life back in the day? See what the future holds for virtual worlds by jumping into Decentraland.


Ever considered playing a play-to-earn horse racing game with Cyberpunk vibes? Maybe you’ll change after you get acquainted with Pegaxy (Pegasus Galaxy). In Pegaxy, you are pitting mythological creatures head-to-head, which results in some fast-paced action. You can even breed your Pega (the horses, if you can call them that).

With a PvP format, this game has some interesting style that throws together a high-tech vibe with a classic horse racing style of game that results in an interesting blend that shows how experimental P2E games can be. While this game is still in its early stages, it’s worth keeping an eye out for what this game has in store and seeing if these techno-horses catch on here as much as they do on the local track.

If horse racing games like Rival Stars or heading down for a day at the track gets you a bit loud, head over and see what’s going on with Pegaxy.

Thetan Arena

For those gamers who enjoy a multiplayer online battle arena game, commonly called a MOBA, Thetan Area might be your pick. Playable on Android, iOS, or PC, Thetan Arena offers a colorful experience that brings P2E gaming with a F2P model. Earn NFT items as you play the game that you can then sell on the marketplace to earn money, and you can also collect Thetan coin (the in-game currency used by Thetan Arena) by playing various game modes, which you can then exchange or trade for other items.

Furthermore, you can also acquire Thetan Gem, which takes things even further, enabling you to evolve your heroes in the game or stake them to earn some yield, something many DeFi enthusiasts will love. So whether you’re just interested in having a little fun or grinding for profit, the choice is yours.

Can’t get enough League of Legends or Dota 2? It’s probably time to see what the fuss is about when it comes to Thetan Arena.

- Adam Tracey
Getting Started with Celo
Getting Started with Celo

Celo is one of the most inclusive cryptocurrency projects around, and more people are beginning to take notice due to its thriving community. So let’s explore this project bringing dApps to everyone and enabling anyone with as little as a smartphone to participate in the cryptocurrency space.

What is Celo?

Celo is an open-source blockchain project that supports a native cryptocurrency called CELO and other tokenized assets like the stablecoin cUSD. Celo aims to be accessible to anyone by leveraging technology that has become commonplace among most of the planet, smartphones.

Suppose you are looking to experiment with blockchain technology and learn more. In that case, Celo is an excellent choice given its inexpensive transactions and ecosystem containing many projects focused on ease of use.

Can you Use Tokens on Celo?

As Celo comes with its own blockchain and token support, tokens on Celo are absolutely something you should check out. One of the most interesting is cUSD, a stablecoin that aims to be tied to the value of the US Dollar (USD) that is transferable on the Celo blockchain. The value of cUSD is maintained by a mechanism that algorithmically adjusts the cUSD supply using crypto-only reserves to ensure transparency and a reliable level of price stability.

Thanks to very low transaction fees on the Celo network, it opens up many opportunities for engaging with dApps and various types of smart contracts using tokens on Celo. As a result, many projects are popping up on Celo that range widely from NFT collections to experimental economic protocols.

How Does Celo Work?

The Celo network supports itself by relying on several different types of contributors to the network. Firstly, light clients are a form of software that operates on a user’s device; one great example is the official Celo mobile wallet which enables a low barrier to entry for the use of Celo on mobile devices. Furthermore, light clients allow users to interact with the network efficiently without operating more demanding software or needing access to anything higher-end than a cheap android phone.

As an alternative to using a light client, you can also use the non-custodial wallets provided by LocalCoinSwap, where you remain in complete control of your funds and can access your wallet on just about any device with a modern web browser.

Full nodes are also are vital parts of the network and provide a valuable service. These nodes help support the network and enable the use of light clients. Full nodes on the Celo network act as bridges that pass transactions and other necessary data between different network participants and help keep everything running smoothly and in sync.

Unlike many blockchains that currently use proof of work consensus to secure them, Celo opts instead to use proof of stake with the help of validator nodes that require staking of CELO tokens to take part in the validation process while incentivizing positive and honest contributions to the network. Validator nodes are essential as they provide validation for transactions and produce new blocks.

Together, these different types of participants form an active and efficient network that supports a flourishing and growing ecosystem of users and use cases.

Why does CELO have Value?

CELO holders can stake their CELO tokens and gain the ability to drive the project. The more CELO tokens you hold, the more voting power you can muster. Staking is rewarded and encourages participation as a validator. If the total amount of tokens staked drops below a certain threshold, rewards increase to encourage more holders to begin staking and ensure the network is well supported.

Combining staking rewards with governance helps the CELO tokens form a valuable part of the project and help provide a strong foundation for a range of tokens and dApps to operate on top of the Celo blockchain. As the supply is also limited, this helps provide value as long as there is enough demand for the tokens.

Where is the Best Place to Trade CELO?

Thanks to the support of non-custodial CELO trading on LocalCoinSwap, traders around the world have access to this increasingly popular digital asset. You can trade CELO instantly with other buyers and sellers from around the world in your local currency while choosing from hundreds of popular payment methods.

The Benefits of Buying CELO P2P on LocalCoinSwap Include:

Exchange Celo with traders internationally using 300+ payment methodsNon-custodial exchange & wallets keep you in control of your cryptoTrade CELO with cash and other less commonly accepted currenciesCustomize your trading terms to suit your needs and start trading your way

Earn free CELO by trading on LocalCoinSwap!

How to Buy CELO with Cash

Centralized exchanges tend to support minimal payment methods, resulting in a vast number of people simply not having access to trading on these platforms. However, a P2P marketplace like LocalCoinSwap enables you to trade with a massive range of payment methods, including cash.

Buying CELO with cash is easy, with just a few simple steps:

Head over to LocalCoinSwap and sign up if you haven't already (takes only seconds)Use the search bar to sort for CELO offers matching your needs, and if you’re looking for cash trades, all you need to do is select the payment method “cash-in-person.”Once you’ve found the perfect trade offer, you simply enter the amount you’d like to trade and follow the on-screen instructions to complete the trade.

If you can’t find a trade offer that matches your preferences, you can create your own trade offer or explore alternative payment methods that may be more commonly available. As you’re trading P2P, you can explore various payment options, including things like local bank transfer, gift cards, PayPal, Skrill, and Zelle, just to name a few.

Have you checked out all that Celo has to offer yet? Then, why not start by exploring P2P trading and see why so many people are interested in this cryptocurrency project that reduces barriers to using cryptocurrency and takes advantage of the modern technology in our pockets that we often take for granted.

- Adam Tracey
LocalCoinSwap Welcomes CELO & cUSD
LocalCoinSwap Welcomes CELO & cUSD

Embracing cryptocurrencies that do things a little differently is something we find important to bring to our community at LocalCoinSwap. As such, we’re excited to announce the support for both CELO and cUSD for non-custodial trading with full wallet support.

What Does This Mean?

As of now, you can trade Celo worldwide with over 300 payment methods, the flexibility afforded by peer-to-peer (P2P) trading, and full non-custodial wallet support. So it doesn’t matter whether you want to trade CELO or cUSD with bank transfer, cash, or almost anything else you may be looking for; LocalCoinSwap has got you covered.

De-banking of cryptocurrency users is still a problem for many traders, and for many more, access to banking or the types of resources required to use a centralized exchange simply aren’t available. Where you live and what tools you have at your disposal shouldn’t influence your access to critical financial tools, and while cryptocurrency projects like Celo break down many of these barriers, combining the benefits of crypto with those of P2P trading ensures that everyone has the same standard of access and the freedom to trade their own way.

Your Non-Custodial Celo Wallet

When using the Celo wallet provided with your LocalCoinSwap account, you remain in complete control of your cryptocurrency and your private key. You can freely export your private key and even import it into another Celo wallet to provide you both peace of mind and the highest possible flexibility. Keep track of your portfolio.

Stop worrying about centralized platforms holding your funds and start retaining control over your digital assets.

CELO & cUSD are Excellent Additions to LocalCoinSwap

Cryptocurrency can be an extremely powerful tool, but for that to be the case, it has to suit the needs of those using it, and both of these digital assets have a growing community and ecosystem of projects that support them.

Furthermore, many in the LocalCoinSwap community have been requesting stablecoins with cheaper associated transaction fees. With cUSD on Celo, you can have all the benefits of a stablecoin without the often high cost to trade with it or even when just moving it between wallets or sending some to a friend. When trading cUSD, you can complete trades in seconds, with very minimal amounts required for transaction fees on the network.

Trading P2P helps traders across the globe access financial tools and technology that, in many cases, they’d otherwise be unable to access in a practical way. While, unfortunately, many of these same traders are excluded from traditional financial services, further adding barriers to their economic independence and financial freedom, cryptocurrency can offer the ability to become more financially independent.

With the increased use of stablecoins like cUSD, you no longer have to be exposed to extreme volatility to leverage many of the advantages of cryptocurrency. Now you can exchange value with anyone and remit payments to a friend in the same room or family internationally in seconds for fees that are often significantly better than legacy remittance services or, in some cases, even exchange rates between some currencies.

The Benefits of Trading CELO & cUSD on LocalCoinSwapTrade with over 300 payment methods and against essentially any fiat currencySign-up is instant; you can be trading immediatelyNo withdrawal or deposit limitations ensure you are free to trade your wayAccess to many other popular cryptocurrencies for tradingFully non-custodial CELO & cUSD wallets with private key accessThe ability to trade both locally and internationally with traders around the worldStart Trading Your Own Way

Trading cryptocurrency shouldn’t be complicated or limiting. With P2P trading, you have the freedom to trade using your preferred payment methods, against your local currency, and even using payment methods that are far less commonly accepted by other cryptocurrency marketplaces, including cash.

All you need is access to the internet, and at minimum, a smartphone; you can start trading on LocalCoinSwap with a few easy steps.

Sign-up with LocalCoinSwap if you haven’t alreadySearch for offers that suit your needs, or even create your own with just a few clicksOnce you find an offer, simply enter the amount you wish to trade and follow the promptsWant to Earn Free CELO?

To celebrate the launch of CELO and cUSD on LocalCoinSwap we're giving away thousands of dollars worth of CELO. Complete your first trade and earn rewards! Want to find out more? Click here!

If you haven’t already, follow us on Twitter, Facebook, or join our Telegram group to see why LocalCoinSwap is the most popular non-custodial P2P marketplace. It doesn’t matter if you want to trade a lot or a little; LocalCoinSwap is the best place to trade cUSD or CELO.

- Adam Tracey
Ethereum Name Service (ENS) Introduction
Ethereum Name Service (ENS) Introduction

Have you ever wondered if your wallet address could be more readable? Perhaps a little like a website URL than a string of chaotic characters meshed together in a stream of incomprehensible madness, well this is where the Ethereum Name Services (commonly called ENS) can make things a lot more interesting.

What is Ethereum Name Service?

ENS is a naming standard that takes advantage of blockchain technology. Ethereum Name Service touts itself as being the most widely integrated blockchain naming standard, and given its proliferation among the cryptocurrency community, it's hard to argue with that likely being the case.

At its core, ENS is an extensible, open, and distributed naming system that leverages the popular Ethereum blockchain and enables the use of addresses that are actually human-readable. So when you're using an ENS address, there's no need to be awkwardly copying and pasting your address when a friend asks for it; instead, you can opt for an ENS domain that is not only far easier to read but also far easier to error check.

How Does ENS Work?

While you don't necessarily have to fully understand how Ethereum Name Service works merely to use it, it can still be an interesting thing to explore to help expand your understanding of how blockchains can be used.

If you're somewhat familiar with how the internet works, the concept of ENS domains is in a sense remotely similar to how DNS (domain name service) works. However, for those that aren't, in the simplest sense, when typing the name of a website into your browser DNS is used to help find the actual IP address that is serving the actual data for that domain. So instead of typing a series of numbers and dots that are even less intuitive than a phone number, you can instead type in an easy-to-remember, often very readable URL.

While on the internet, a top-level domain (like '.com') is managed by a registrar with domains available on request; in the case of ENS, the traditional registrar is replaced by smart contracts which control top-level domains like '.eth' and provide and manage the rules for registering one yourself. If you own a domain name, you can even create subdomains attached to it as you already control the higher-level ENS name.

For a far more in-depth explanation of how ENS works, as well as some further technical detail, the official ENS documentation is a fantastic place to learn more about this impressive service.

What is the ENS Token?

If you've been looking into ENS, you may have noticed a token by the same name, and this is associated with the project. The token is actually for us in the form of a decentralized autonomous organization (DAO) governance token to help push support of ENS forward while enabling it to remain an open, decentralized service.

A quarter of the entire ENS token supply was distributed in the form of an airdrop to those that had held NFTs representing ownership of ENS domain names. The amount of time someone held an ENS domain alongside other factors decided the actual amount received. A significant amount of Ethereum Name Service tokens were also held for their community treasury, for core contributors, and other parties in much smaller amounts.

Receiving tokens was also rather interesting in that claimants were required to vote on several ENS proposals using these governance tokens as well as choose an applicant to offer the voting power of your tokens to a chosen delegate that had applied to take part in the process.

How Do I Buy an ENS Domain?

ENS domains are purchased with a small subscription fee. While at first thought this may seem off-putting, it helps to ensure that only those using or having an active interest in a specific domain are likely to maintain holding it long term.

For those wanting to buy an Ethereum Name Service domain, you can head over to the ENS domain app and get started. The process will require you to have the relevant subscription fee and some extra funds to cover the gas cost of the transaction involved in the form of Ethereum.

The search function present as soon as you open the app enables you to find out which ENS names are available quickly. Then, using MetaMask or other supported wallets, you can quickly purchase a domain for yourself.

Using ENS Names on LocalCoinSwap

Alongside popular ethereum wallets like MetaMask and MyEtherWallet supporting ENS, LocalCoinSwap does as well! Using your non-custodial ethereum wallet that is generated when you create your account, you can easily withdraw ethereum or other ERC-20 tokens directly using an ENS domain name in place of other ethereum addresses.

So the next time you buy ethereum/sell ethereum with LocalCoinSwap, why not take advantage of the awesome human-readable names provided by ENS and experience how nice it can be to personalize your cryptocurrency wallet with an ENS domain of your own.

- Adam Tracey
LocalCoinSwap Holiday Roadshow
LocalCoinSwap Holiday Roadshow

Join the #HolidayRoadshow with LocalCoinSwap for your chance to win:

One of 5 bitcoin prizesTrezor hardware walletExclusive LocalCoinSwap T-ShirtHow to Participate:

Participating in the LocalCoinSwap holiday roadshow is easy. Will you be the best P2P trader this holiday season?

Stage 1: Referral Contest

Period: Dec 20th - 26th 2021

Grab your referral link from your LocalCoinSwap accountShare your referral link to friends, family, and even clientsInvite them to sign up for LocalCoinSwap

Win $50 USD in BTC - 5 winners!

Terms & Conditions:

To be eligible for the contest, you must have a minimum of 10 new registrations coming from your referral linkAt least 50% of your total new registrations must have their phone number verifiedThe top 5 users with the highest new registrations will win $50 USD in BTC each & eligible to join the next stage of the contestAnnouncement: 27 Dec 2021 – Follow our social media: Instagram, Twitter, Facebook, LinkedIn for updatesStage 2: Trading Contest

Period: Dec 27th, 2021 - Jan 2nd, 2022

Trade crypto at LocalCoinSwap (Buy or Sell)

Terms & Conditions:

The highest trading volume completed by you & your referrals will win the grand prizeAnnouncement: 3 Jan 2022 – Follow our social media: Instagram, Twitter, Facebook, LinkedIn for updates

Win 1 Trezor Hardware Wallet & 1 Exclusive LocalCoinSwap Shirt!

- Adam Tracey
Entering the Metaverse
Entering the Metaverse

The concept of the metaverse has been a colossal topic recently. With even Facebook suddenly jumping into the mix, there's a lot out there to explore and many projects working on their own visions for the future of the digital universe. So perhaps it's the perfect time to start exploring what exactly this idea is and look at some of the places we may go as we move into the future.

What is the Metaverse?

The metaverse is a conceptual or hypothesized view of how the internet and technology could evolve in the future. This idea encapsulated things like virtual reality (VR), augmented reality (AR), and even 3D space and virtual environments where ownership, community, and building things beyond the physical world’s limits can be possible.

The actual phrase is said to have come from a well-known sci-fi novel from the year 1992 called Snow Crash. The book described a dystopian world where the main character can escape his difficult day-to-day existence into a virtual realm. This book is said to have even influenced The Matrix and some other films delving into more abstract concepts and alternative reality.

As with many new forms of technology and especially on the more experimental side of things, naturally, the metaverse is something that fits nicely alongside crypto, and a range of projects are popping up to explore and grow inside this new space. Through crypto and things like NFTs (non-fungible tokens), ownership of assets and virtual real estate becomes far more practical. While we're still adapting in many ways to using more niche forms of digital assets, when you look at the digital space, things suddenly can become not only more straightforward but practical.

Is the metaverse going to be the next big thing in crypto? Time will tell, and if the current growing hype is any indication, it may indeed start making some waves that ripple beyond the bounds of the typical cryptocurrency ecosystem.

What Can You do in the Metaverse?

With this being a concept that has only started to gain significant traction recently, there's already a lot of things that are either doable today or are already being actively developed.

Attend a virtual conference or other eventsMore immersive conference calls through VRWorking in a VR space with a simulated deskBuy and sell digital property and itemsCombine the physical world with the digital world through ARWatch a movie in a virtual theatre or a mixed reality formatSocialize in entirely virtual worlds using VR headsetsGaming and other forms of entertainmentBig Business is Getting Involved in the Metaverse

Some of the biggest companies in the world have not only explored virtual reality but are beginning to embrace a more embodied internet where the virtual world and real world can intertwine. For example, Facebook has recently taken to the idea of the Metaverse so strongly they have changed the name of their company with a recent announcement and complete branding overhaul. The company is now known as Meta as they are already beginning to promote the future of the virtual universe and how that could look.

Even Disney, one of the more conservative companies that almost everyone is familiar with, has stated they want to "connect the digital and physical worlds" with animation and storytelling. So perhaps in the not too distant future, some of the most well-known Disney characters will get a Metaverse rethink or even make their way into the blockchain space in an official capacity.

Nvidia is working on building what it is calling an "Omniverse" that they have stated is intended to connect 3D virtual worlds. In addition, they appear to be interested in digital assets and their ownership in persistent virtual worlds, which seems to bode well for Metaverse cryptos, projects working on an NFT marketplace, and other blockchain projects that complement the Metaverse theory.

Microsoft is another big name that isn't new to the Metaverse; after releasing their mixed reality headsets in recent years while exploring both VR and AR, you can expect to see more of this from them as demand for these technologies increases along with the development of software to interact with virtual spaces is further enhanced. Already Microsoft has announced they are creating a Metaverse product for their popular Microsoft Teams platform to increase collaboration and allow things like customizable digital avatars, novel forms of communication, expand collaborations into open virtual spaces, and develop more exciting video chat experiences.

Metaverse Gaming

While VR and even AR have been strongly connected to gaming in most people’s minds, this is starting to change. With a large part of the world exploring work-from-home options and how to embrace socializing and collaboration in the digital space, more people than ever are starting to understand the potential for the Metaverse to bring many types of interactions into a new world.

With products like the HTC Vive Pro 2 and Meta Quest 2 (formally Oculus Quest 2) making their way into homes worldwide, VR is becoming much more commonplace. With tech enthusiasts digging around for software and games to take their VR devices for a spin are finding their way into virtual worlds through VR Chat and VR Virtual Desktop, which touch on the potential for these technologies as the hardware to make them practical has started to reach the mass market with Google even releasing "Cardboard" a few years ago which when combined with your phone could provide a relatively immersive VR experience while primarily being made from, as you may have guessed, cardboard.

Even a growing landscape of blockchain and crypto Metaverse gaming-related projects is blooming with some of the best Metaverse projects for gamers, including The Sandbox (describing itself as the open Metaverse), Decentraland, Axie Infinity, and Star Atlas, just to name a few.


The increased interest in the Metaverse points to the future being launched into other realms of digital spaces where what things exist and what context they are owned in the future could look much different from their traditional counterparts today. Will your avatar in the future be far more than the profile pictures of today? Maybe you'll even find yourself offering or receiving services or digital goods in ways that today may seem like science fiction. With VR and other technologies associated with the Metaverse blending with the crypto space and even affecting how some people are playing games, there's a tremendous amount of potential, and things are only just now beginning to be touched on as so many bleeding-edge technologies are starting to mesh together.

It's hard to argue the way we see the web, data, or just the internet, in general, isn't evolving. So maybe the Metaverse will become a big part of how all of this is shaped in the future as the physical and digital collide and it reverberates through the network that underpins our life and world.

- Adam Tracey
Why Does Bitcoin Have Value?
Why Does Bitcoin Have Value?

Bitcoin is a speculative asset. This means that the price of bitcoin can go up and down depending on what people are feeling about it. Many different factors contribute to this, including supply, demand, general sentiment, and more.

The finite supply cap for bitcoin makes it an interesting investment opportunity since there will only ever be 21 million bitcoins mined on the bitcoin blockchain before the supply is capped forever!

Bitcoin vs. Gold and Other Speculative Assets

Bitcoin is very similar to other speculative assets like gold, real estate, and collectibles. In fact, bitcoin is often considered a store of value and is one of the key reasons some people find it so interesting! Bitcoin is also becoming an increasingly popular means of exchange. In the simplest sense, bitcoin has value because people think it does and are willing to trade goods, services, or other currencies for bitcoin. It's different from a traditional fiat currency that is backed by a government. Still, something you may not realize is that standard currency is speculative as well in that it largely relies on what people are willing to exchange for it.

While you may not notice it, the value of the US Dollar, British Pound, and even the Euro are all fluctuating constantly, yet in most cases, you are unlikely to notice this in the short term. However, for some countries where hyperinflation and other economic phenomenon have kicked off, the day-to-day value of their local fiat currency has become an important topic.

When you look at other asset classes a little more closely, bitcoin being a speculative asset with no physical form doesn't feel so weird after all!

Bitcoin's Valuable PropertiesDecentralizedImmutableBorderlessTrustlessPseudonymousStore of valueEasy to transportCheap remittancesIntrinsic Value

Bitcoin has value because people think it does and is willing to trade goods, services, or other currencies for bitcoin. The fact that you can't physically hold bitcoin doesn't make it any less valuable than something like gold, another commodity with intrinsic value. While the price of cryptocurrencies will always depend on supply and demand to some degree, it's also worth looking at some of the other factors that come into play.

Bitcoin is not just another currency but has properties more closely represented by gold or silver than fiat money like USD. While these commodities are loosely limited in supply and can be used as an alternative store of value to paper cash, they're also mined, printed, or otherwise created at various rates that can change at any time, with even paper trading of assets like gold making things less transparent. In the case of bitcoin, things are a lot clearer given the supply cape and the fixed rate that coins can enter the market as they are mined.

Bitcoin as a Store of Value

Beyond being a speculative asset, bitcoin is also widely seen as a store of value. While this may seem ironic given the volatility that impacts price so heavily in the short term, it's actually very similar to other stores such as gold or collectibles.

As the value of bitcoin has continued to increase over the long term, many people are taking this as an opportunity to diversify their savings or retirement accounts by adding a small portion of cryptocurrency into the mix. In addition, the fact that it's not directly connected to many traditional assets results in many investors looking to bitcoin as a potential hedge against other traditional investments. How strongly bitcoin is correlated to more conventional assets is commonly argued and is likely to become more apparent as bitcoin continues to mature while other markets cycle around it.

In countries dealing with the extreme volatility of their traditional fiat currencies, bitcoin can provide a far more stable alternative, even when taking into account its own often high degree of volatility. In many regions, remittances are being performed using bitcoin at an increasing rate. No longer do you need to trust an expensive third-party remittance service, and you don't even need a verified bank account or other types of financial institutions at all. Bitcoin isn't only a great store of value. It’s also a fantastic way to transfer value without many of the issues faced when trying to move value long distances using traditional fiat currencies, precious metals and removes the risk of counterfeit money.

While many still call bitcoin "digital gold," its potential far exceeds this as the bitcoin network sprawls the world even though no single entity oversees bitcoin. While value is relative, it's hard to argue that digital currencies like bitcoin don't provide a strong value proposition and that bitcoin does indeed have value while exploring other novel concepts such as that bitcoin introduces digital scarcity. While there are no true global currencies, bitcoin is arguably the closest thing we have to a payment system or currency that is truly global.

Bitcoin Price Volatility

The price of bitcoin is still incredibly volatile, at least compared to some more stable assets and larger local currencies. However, it's also important to keep things in perspective. While headlines about bitcoin price movements can be enough to send people into a panic or frenzy of excitement, the rise, and fall of the market are something that can be expected with such a comparatively new asset that can be considered to stand in a class of its own in many ways.

While decentralized payment systems like bitcoin are often compared to credit cards, it's essential to acknowledge that bitcoin isn't just another digital payment solution like your online banking, PayPal, or Cash App.

While the future is still uncertain, bitcoin has intrinsic value through its ability to act as an alternative store of value with properties beyond cash for investors and bitcoin users. Ultimately, whether or not this will be enough in the long term is something we'll have to wait and see.

For over a decade now, bitcoin has continued to grow, show us new ways to consider value, and has helped provoke the growth of a massive cryptocurrency ecosystem and monetary systems that are expanding by the day.

- Adam Tracey
Bitcoin Cheatsheet
Bitcoin Cheatsheet

Whether you're looking to start trading, mining, or simply want to try your hand at buying a few bitcoins in order to see how it all works, it's easy to get started and even easier to begin learning with this bitcoin cheatsheet.

What is Bitcoin?

Bitcoin allows transactions to take place peer-to-peer without a third party such as a bank or government. The "coins" themselves exist only in digital form - they have no physical form and are not printed or minted like traditional currency. In essence, they represent a unit of account for trading goods and services, much like conventional currencies. The coins are made - or mined - by solving complex mathematical problems.

Who Controls Bitcoin?

Bitcoin was created by a still-mysterious figure going by the name Satoshi Nakamoto back in 2009. Satoshi Nakamoto was a secretive person or a group whose true identity has never been confirmed. Because no one owns or controls bitcoin, it is considered a decentralized digital currency.

Bitcoin has been described as "cash for the Internet." What separates it from other currencies is that bitcoin isn't subject to any one country's rules, regulations or policies. As a result, it can be used by anyone who knows how to access the Bitcoin network - typically through a wallet application downloaded on a PC or mobile phone or online via a web wallet.

How Do I buy Bitcoin?

Because it's not centralized, bitcoin can't be bought from a central organization like a bank. Instead, you typically need to use an exchange to buy or sell bitcoin. Before you open an account and purchase your first coins, you need to think about what type of exchange you want to use; the most flexible option is a P2P marketplace like LocalCoinSwap.

What is a Bitcoin Wallet?

The wallet can be seen as your personal interface to the Bitcoin network. It allows you to receive bitcoins, store them and then send them to others. A wallet is like a bank account; however, it is more decentralized and under your control. Therefore, you are not required to submit any identification or other sensitive information when creating a bitcoin wallet.

On a fundamental level, Bitcoin wallets consist of two cryptographic keys (one public and one private key) - the public key being your wallet address, which people can use to send money to, and the private key is for signing transactions (moving your funds).

Keeping your bitcoins safe is of utmost importance, as this digital currency has a lot of value attached to it. There are three main types of wallets available for you to use: online wallets, offline wallets, and hardware wallets - each with their advantages and disadvantages.

What is the Bitcoin Blockchain?

The blockchain is the technology behind bitcoin. It's a data structure that stores blocks of items in a linear, chronological order. The 'chain' represents the entire history of all transactions made since the network began. Every transaction is stored in blocks and mathematically encrypted to create an irreversible record - hence the term blockchain.

What is Bitcoin Mining?

Miners keep the blockchain consistent, complete, and immutable by repeatedly verifying and collecting newly broadcast transactions by using large amounts of computer processing power (energy). Each block contains a cryptographic hash of the previous block (unique signature), using the SHA-256 hashing algorithm, which links it to the previous block, thus giving the blockchain its name.

How do I accept bitcoins as payment?

For companies wishing to accept bitcoin, many different types of software, services, and platforms can be used - or even none at all. For example, some smaller merchants may accept direct bitcoin payments to their wallets, while others may opt for third-party services designed specifically for businesses.

What is the Future of Bitcoin?

Since bitcoin's inception in 2009, it has witnessed rapid growth and appreciation in its value. In this relatively short period, people have come to see it as a haven for their wealth due to it being entirely digital, not influenced by any central bank or authority. However, many naysayers still stubbornly believe that bitcoin is built on unproven technology and isn't ready to be used in the real world just yet. Yet, over a decade later, the network is still producing blocks and processing transactions.

What Can I do with Bitcoin?

Even though it's not quite mainstream yet, you can still use your bitcoins to purchase products or services from vendors across the world. You could buy anything from web hosting, plane tickets, furniture, tech, or even book a hotel room thanks to the growing number of companies accepting bitcoin.

What is SegWit?

SegWit stands for segregated witness. If you've ever used (or at least heard of) a wallet that supports SegWit, then you've likely seen it in action already. However, not all wallets support SegWit just yet - but it's a step towards the future capacity upgrade for bitcoin as it enables blocks to contain more information without directly increasing the 1 Megabyte block size.

Who Controls Bitcoin?

The bitcoin network is completely decentralized, so there's no need for any central authority to oversee its operations. This means that anyone can participate in the network by simply downloading the software required.

What Are the Benefits of Bitcoin as an Investment?

Many people who have purchased bitcoins as an investment are seeing significant returns on their initial investments. In December 2017, a single bitcoin was valued at over $19,000 USD, and in 2021, Bitcoin has traded for over $50,000 USD. As bitcoin is speculative and at times highly volatile, whether it is a good investment is something you should research yourself and assess against your risk tolerance.

What is the Supply of Bitcoin?

Bitcoin's supply is capped at 21 million coins. That means that there can be no inflation in the network, which is one of the ways it differs from fiat currencies.

What if I Lose my Wallet?

If you somehow lose access to your wallet or it gets stolen, you should consider these funds irretrievably lost in most cases. That means it's important to secure any wallet you own, safely store your private key or seed phrase, and ideally use a quality hardware wallet.

What is the difference between Public and Private Keys?

Every single bitcoin transaction that ever takes place requires a public address and a private key - which work together to authorize the transaction. A public address is enough information for you to be able to send funds to another bitcoin user. The private key is what someone needs to have so they can spend money from their wallet. However, if they lose the key, they will never regain access to the bitcoin inside of it again.

What are Bitcoin Faucets?

Bitcoins faucets are websites that dispense a small amount of bitcoin for free of performing a task (often a captcha) that were quite common in the early days of bitcoin. While these have become far less popular in recent years and pay out a lot less, they still exist.

What is the Average Block Time?

The average block time refers to how long it takes for a block to be confirmed on the blockchain. It's usually around 10 minutes per block, but it can take more or less time. However, the bitcoin network is programmed to add a new block every 10 minutes, so each block is expected to take an average of 10 minutes.

What is the Lightning Network?

The lightning network is a second layer protocol built on top of bitcoin that allows for super-fast and inexpensive transactions. These are especially useful for smaller-scale payments where transaction fees would be larger than the cost of the product or service you're purchasing, but they can also make most bitcoin transactions instant. This technology is still in its early stages, but it's already supported in some wallet software and is growing more popular as adoption is starting to increase more rapidly.

What is the Price of Bitcoin?

The price of bitcoin constantly varies since it's traded on various exchanges all over the world. It can go up or down depending on what people are willing to pay for it, but that value has been trending upwards for years now when looked at on a longer time frame.

What is a Satoshi?

A satoshi is the smallest fraction of a bitcoin and represents 0.00000001 BTC (one hundred millionths of one bitcoin). Since bitcoin can be divided down to 8 decimal points, you could always buy a fraction of a bitcoin if you didn't want a complete one.

What are the Transaction Fees?

Bitcoin transaction fees vary based on several factors. When there is more competition to get a transaction into a block, you will pay a higher fee if you want your transaction to be processed quickly. Additionally, the size of any given transaction also determines how much it will cost to send or receive bitcoins. While you can send a fraction of a bitcoin or thousands of bitcoins for the same price, specific transaction types can cost more than others based on numerous factors (such as the type of wallet address used).

What is a Halving?

A halving is when the rate at which new bitcoins are created halves. This happens once every 210,000 blocks or roughly every four years. When that happens, the block reward per block is cut in half until it eventually reaches zero.

Bitcoin is seen as a deflationary currency because there's a finite amount of bitcoin that can be mined. In all, there will only ever be 21 million bitcoins produced which makes for an interesting economic experiment that all bitcoin users are participating in, and only time will tell where it goes.

There is so much to learn about bitcoin and other cryptocurrencies. If you want to learn more be sure to check out the LocalCoinSwap Academy where there is a large amount of free bitcoin guides and tutorials that is growing all the time.

- Cointelegraph By William Suberg
US gov’t shutdown looms — 5 things to know in Bitcoin this week

Bitcoin starts the week with a trip to $26,000 — can BTC price strength overcome sellers and a weekly “death cross?”

- Cointelegraph By Arijit Sarkar
Mixin Network hack drains $200M from mainnet assets

Mixin Network suspended all deposits and withdrawals and will restart the services “once the vulnerabilities are confirmed and fixed.”

- Cointelegraph By Gareth Jenkinson
Vitalik wallet sends 400 ETH worth $600K to Coinbase

A wallet associated with Ethereum co-founder Vitalik Buterin was flagged sending 400 ETH, worth around $600,000, to Coinbase.

- Cointelegraph By Tom Mitchelhill
Chainlink downplays worries after users notice quiet change to multisig

Chainlink critics have reiterated concerns about the oracle network’s supposed centralization after a subtle adjustment to its multisig wallet.

- Cointelegraph By Martin Young
North Korean Lazarus Group amasses over $40M in Bitcoin, data reveals

The North Korean hacking collective has at least $47 million in cryptocurrency, including Bitcoin, Ether, BNB and various stablecoins, including Binance USD.

- Cointelegraph By Brayden Lindrea
What happened in crypto this weekend?

OpenSea flags possible security breach, board member at Celsius' NewCo steps down, Venezuelan authorities find Bitcoin miners during police raid and more.

- Cointelegraph By Tom Mitchelhill
Hong Kong to list ‘suspicious’ crypto platforms in wake of JPEX scandal

In the wake of the ongoing JPEX scandal, the Hong Kong Securities and Futures Commission says it will issue a public list of suspicious crypto trading platforms.

- Cointelegraph By Tom Mitchelhill
JPEX scandal masterminds still at large as 11 suspects taken into custody: Report

Hong Kong police said the leaders of the JPEX crypto exchange are still at large and are now enlisting the help of Interpol to track them down.

- Cointelegraph By Brayden Lindrea
Crypto exchange Upbit stems fake APT token flood, resumes services

The newly created fake APT token called “” made its way to 400,000 Aptos wallets, which was mistakenly recognized by crypto exchange Upbit as the real deal.

- Cointelegraph By Brayden Lindrea
From walls to wallets: Barcelona graffiti artists share their love for Bitcoin

Nine months after launching, the Street Cy₿er artist collective has over 100 street artists, musicians and Bitcoin enthusiasts involved.

- Cointelegraph By Jon Rice
Pay-to-use blockchains will never achieve mass adoption

Blockchain projects should learn from Google and Facebook by monetizing users without directly asking for their money.

- Cointelegraph By Rakesh Upadhyay
Crypto traders shift focus to 4 altcoins as Bitcoin price flatlines

Bitcoin’s tight-range trading points to a potential range expansion that could trigger a trending move in LINK, MKR, ARB and THETA.

- Cointelegraph By Ezra Reguerra
Miss Universe denies link with recently unveiled coin project

The Miss Universe Organization said no Miss Universe cryptocurrency or blockchain offering is involved with the Miss Universe or Miss Universe Philippines.

- Cointelegraph By Marcel Deer
How to buy Bitcoin in Dubai

Experience zero tax on crypto trades — find out how to buy Bitcoin in Dubai.

- Cointelegraph By William Suberg
BTC price tracks $26.5K as Bitcoin speculator supply hits 12-year low

BTC price action stays firmly within an established range, while analysis shows that overall Bitcoin investor composition is changing.

- Cointelegraph By Ezra Reguerra
Couple mistakenly sent $10.5M by to face October plea hearing

Thevamanogari Manivel was sentenced to 18 months of community corrections with six months of unpaid community work, while her husband will face a plea trial in October.

- Cointelegraph By Ciaran Lyons
Terra Classic community elects to cease USTC minting

The community strongly backs stopping TerraUSD Classic (USTC) minting and reminting in favor of burning tokens to restore its U.S. dollar peg.

- Cointelegraph By Ciaran Lyons
FTX’s former external legal team disputes involvement in fraud allegations

In a recent court filing, a United States law firm that had previously offered services to FTX challenged allegations of assisting Sam Bankman-Fried in his alleged unlawful activities.

- Cointelegraph By Ciaran Lyons
Coinbase secures AML registration from the Bank of Spain

The Anti-Money Laundering registration will allow cryptocurrency exchange Coinbase to offer its services to retail and institutional investors in Spain.

- Cointelegraph By Editorial Staff
Binance.US scores against SEC, Mt. Gox delay repayments, and other news: Hodler’s Digest, Sept. 17-23

Binance.US scores temporary win against the SEC, Mt. Gox repayments delayed to 2024, and Tether’s $1B liquidity to Tron network.

- Christian Encila
Is Terra Classic Planning For USTC To Be Pegged To The Dollar Again?

The Terra Luna Classic (LUNC) community has voted overwhelmingly, with nearly 60% in favor, to cease the minting and reminting of Terra Classic UST (USTC) tokens. The drastic decision, in a decisive move aimed at rescuing the beleaguered Terra Classic stablecoin, comes in the wake of Terra’s collapse in May 2022, which had sent shockwaves through the crypto market, leaving USTC’s value in shambles.

The proposal to halt USTC minting and reminting is part of a comprehensive plan to facilitate the re-pegging process of the stablecoin. To accelerate this process, members of the Terra Classic community are actively encouraged to participate in the burning of USTC tokens, effectively reducing the token’s circulating supply.

Before the catastrophic events of May 2022, Terra’s blockchain network allowed users to seamlessly swap between USTC and LUNA, Terra’s native cryptocurrency. However, as the network crumbled and USTC lost its peg to the US dollar, the system began minting LUNA coins in a desperate attempt to restore stability. 

This emergency measure led to an oversupply of LUNA tokens and a cascading effect on its price, dragging USTC’s value far below its intended $1 mark.

Terra Luna Burning Challenge

The community’s primary objective with this proposal is to expedite the burning of LUNA tokens, ultimately driving up their value. The burning process, where tokens are permanently removed from circulation, has been sluggish so far, with only 75 billion LUNC tokens successfully incinerated. This leaves the circulating supply at approximately 5.9 trillion LUNC, out of a total supply of 6.84 trillion.

As more LUNA tokens were minted to restore the USTC peg, the oversupply put immense downward pressure on LUNA’s price. Consequently, USTC’s value suffered a steep decline from its initial $1 valuation.

Accumulation Signals Amidst Uncertainty

Despite the tumultuous journey thus far, there are positive indicators that offer a glimmer of hope for the Terra Luna Classic community. According to CoinGecko, the current price of LUNC stands at $0.00006150, reflecting a 2.9% increase in the past 24 hours and a promising 6.6% surge over the past seven days.

Key momentum indicators observed within a 24-hour window show signs of approaching overbought levels. LUNC’s Relative Strength Index (RSI) stands at 53, indicating moderate strength, while its Money Flow Index (MFI) is at 76, suggesting robust accumulation. This shift in sentiment indicates that the community’s efforts to restore value may be gaining traction.

The Terra Luna Classic community’s bold decision to halt USTC minting and reminting signifies a concerted effort to revitalize the ailing stablecoin. With a renewed focus on burning LUNA tokens and correcting the supply-demand imbalance, the community aims to steer USTC back on course towards its $1 peg, providing a glimmer of hope amidst a challenging journey of redemption.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from

- Scott Matherson
Ethereum Founder Vitalik Buterin Reveals The Challenges Of The Network

The Ethereum blockchain is notable for its smart contract functionality and various other things. However, many might not be conversant with the challenges the network encounters. In a recent interview, Ethereum’s founder, Vitalik Buterin, revealed the biggest of them all.

Ethereum’s Biggest Challenge

Speaking with CNBC, Buterin mentioned that the biggest challenge that the “Ethereum ecosystem” faces is ensuring that it builds products that provide value to its users. According to him, the last decade was test-running, but now Ethereum needs to provide utility.  

Ethereum is known to host some of the biggest decentralized applications (dApps), including prominent decentralized exchanges (DEXs) like Uniswap, Curve Finance, and Sushiswap. The network has also grown massively to the extent that several Ethereum layer-2 networks have sprung up in a bid to scale the network.

Despite this, it seems that Buterin believes that there is more to be done, even as Ethereum has asserted itself as the go-to network for dApps and other decentralized solutions. Meanwhile, ETH, its native token, is the second-largest cryptocurrency by market cap. 

Buterin also spoke about how cryptocurrencies enjoy greater use in less-developed countries as people use crypto tokens to make payments and for savings. 

Cryptocurrencies have long been touted as a hedge against inflation, and it would seem that crypto is being put to use where it is needed most. A recent report by Chainalysis showed that the highest-ranked countries for crypto adoption are being plagued with a devaluing fiat currency.  

The Ethereum founder also stated that centralized entities like Binance need to take a back seat for crypto adoption to move forward. While he appreciates these entities’ role in growing the crypto industry, he believes crypto needs to become more decentralized. 

His reason for saying this isn’t far-fetched as he noted that these entities are vulnerable to “both pressure from the outside and to themselves being corrupted.” Truly, centralized entities have taken many hits this past year, which has had far-reaching consequences on the industry. 

Last year, one of the biggest crypto exchanges, FTX, collapsed, which had several ripple effects on the crypto industry and market. Meanwhile, the two largest crypto exchanges by trading volume, Binance, and Coinbase, are currently embroiled in legal battles against the SEC.

Ethereum price chart from (Vitalik Buterin)

The Future Of Ethereum

Last year, Ethereum transitioned from a proof-of-work consensus mechanism to proof-of-stake following the Merge. Buterin stated this move has made the network more decentralized as it is “harder to shut down” than a proof-of-work network. 

He also banished the idea that the network was heavily reliant on him, which many had identified as a weakness as the government could easily go after him to clamp down on the network. 

Related Reading: What The Drop In Spot And Derivatives Volumes Means For The Price Of Bitcoin

According to him, Ethereum has grown to become independent of him and the Ethereum Foundation. He points out how several independent applications on the blockchain have taken the workload off him and made the network more autonomous.  

As to Ethereum’s future plans and projects, he said that the network is focused on privacy and scaling with the help of zero-knowledge (ZK) rollups. ZK rollups are layer-2 scaling solutions that help scale the Ethereum network by moving computation off-chain, thereby reducing the computing workload on the network. It also promotes privacy, as one can verify transactions without knowing what it is about. 

- Aayush Jindal
Tron Price Prediction: TRX Could Rally To $0.095 and Outperform Bitcoin

Tron price is holding gains above $0.0825 against the US Dollar. TRX is outperforming Bitcoin and could rise further toward $0.095.

Tron is moving higher above the $0.0825 resistance level against the US dollar. The price is trading above $0.0830 and the 100 simple moving average (4 hours). There is a short-term contracting triangle forming with resistance near $0.0844 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair could continue to climb higher toward $0.088 or even $0.095. Tron Price Eyes Upside Break

In the last Tron price prediction, we discussed how TRX outperformed Bitcoin against the US Dollar. TRX remained stable and was able to settle above the $0.080 pivot level.

There was a decent increase above the $0.0825 and $0.0832 resistance levels. A high was formed near $0.0849 and the price recently corrected lower. There was a minor decline below the $0.0835 level. However, the bulls were active near the $0.0830 support.

The price found support near the 23.6% Fib retracement level of the upward move from the $0.0770 swing low to the $0.0849 high. TRX is now trading above $0.0825 and the 100 simple moving average (4 hours). There is also a short-term contracting triangle forming with resistance near $0.0844 on the 4-hour chart of the TRX/USD pair.

On the upside, an initial resistance is near the $0.0844 level. The first major resistance is near $0.0850, above which the price could accelerate higher. The next resistance is near $0.088.

Tron Price Prediction TRX

Source: TRXUSD on

A close above the $0.088 resistance might send TRX further higher toward $0.0920. The next major resistance is near the $0.095 level, above which the bulls are likely to aim for a larger increase toward $0.095.

Are Dips Limited in TRX?

If TRX price fails to clear the $0.085 resistance, it could slowly move lower. Initial support on the downside is near the $0.083 zone. The first major support is near the $0.082 level or the 100 simple moving average (4 hours).

The next major support is near $0.080 or the 61.8% Fib retracement level of the upward move from the $0.0770 swing low to the $0.0849 high, below which the price could accelerate lower. The next major support is $0.0770.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 50 level.

Major Support Levels – $0.083, $0.082, and $0.080.

Major Resistance Levels – $0.085, $0.088, and $0.095.

- Aayush Jindal
Ethereum Price Just Saw Bearish Breakdown: Can Bulls Save The Day?

Ethereum price dropped further below $1,600 against the US Dollar. ETH is in the red zone and might dive toward the $1,500 support zone.

Ethereum is gaining pace below the $1,600 support zone. The price is trading below $1,600 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair is struggling and might dive further toward the $1,500 support in the short term. Ethereum Price Extends Losses

Ethereum’s price remained in a bearish zone below the $1,660 and $1,670 resistance levels. ETH declined below the $1,600 support level to move further enter a bearish zone, like Bitcoin.

The price even declined below the $1,580 level and settled below the 100-hourly Simple Moving Average. A low was formed near $1,571 and the price is now consolidating losses. The price is testing the 23.6% Fib retracement level of the recent decline from the $1,600 swing high to the $1,571 low.

Ether is now trading below $1,580 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance near $1,600 on the hourly chart of ETH/USD.

On the upside, the price might face resistance near the $1,590 level. It is close to the 61.8% Fib retracement level of the recent decline from the $1,600 swing high to the $1,571 low. The next major resistance is near $1,600 and the trend line.

Ethereum Price

Source: ETHUSD on

The main hurdle is now forming near $1,620. A close above the $1,620 resistance might send the price toward the $1,650 resistance. If the bulls pump Ethereum above $1,650, the price could rise toward $1,720. Any more gains might open the doors for a move toward $1,820.

More Losses in ETH?

If Ethereum fails to clear the $1,600 resistance, it could start another decline. Initial support on the downside is near the $1,570 level.

The next key support is $1,540. A downside break below $1,540 might push the price further into a bearish zone. In the stated case, there could be a drop toward the $1,500 level.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now below the 50 level.

Major Support Level – $1,570

Major Resistance Level – $1,600

- Aayush Jindal
Bitcoin Price Grinds Lower And Seems Like Bears Are Not Done Yet

Bitcoin price is again moving lower below the $26,500 support. BTC remains at risk of more losses below the $26,000 support in the near term.

Bitcoin started a fresh decline after it failed to clear the $27,500 resistance. The price is trading below $26,500 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance near $26,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now at risk of more downsides below the $26,000 level. Bitcoin Price Drops Again

Bitcoin price failed to clear the $27,500 resistance and started a fresh decline. BTC traded below the $27,000 and $26,500 support levels to enter a bearish zone.

There was also a move below the $26,200 support level. The price tested the $26,000 zone. A low was formed near $26,026 and the price is now consolidating losses. It is trading just above the 23.6% Fib retracement level of the recent decline from the $26,711 swing high to the $26,026 low.

Bitcoin is now trading below $26,500 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $26,350 level. The first major resistance is near the $26,500 zone, a connecting bearish trend line, and the 61.8% Fib retracement level of the recent decline from the $26,711 swing high to the $26,026 low.

Bitcoin Price

Source: BTCUSD on

The next key resistance could be near the $26,700 level, above which the price could gain bullish momentum. In the stated case, the price could even rise toward the $27,000 resistance. Any more gains might call for a move toward the $27,500 level.

More Losses In BTC?

If Bitcoin fails to start a fresh increase above the $26,500 resistance, it could continue to move down. Immediate support on the downside is near the $26,050 level.

The next major support is near the $26,000 level. A downside break and close below the $26,000 level might send the price further lower toward the next support at $25,400 in the coming sessions. Any more losses might call for a test of $25,000.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $26,000, followed by $25,400.

Major Resistance Levels – $26,350, $26,500, and $26,700.

- Scott Matherson
What The Drop In Spot And Derivatives Volumes Means For The Price Of Bitcoin

It has been a quiet week of caution for Bitcoin traders in terms of price action. This caution has trickled into trading volume in particular, as volumes on major crypto exchanges for both spot Bitcoin trading and Bitcoin derivatives have fallen far below their levels at the beginning of the year.

On-chain data from CryptoQuant charts have shown the daily spot and derivatives trading volume of Bitcoin has been steadily declining since the first quarter of the year. The question is, what does this collapse in trading volumes mean for the future price of Bitcoin?

Decline In Trading Volumes 

Trading volumes this year have declined significantly from their highs in March during the Silicon Valley Bank fiasco. Since this period, the derivatives or futures market has fallen 96% and the spot market has fallen 98%.

Bitcoin trading in particular, has been down by a significant margin the past week. Data from CoinMarketCap has shown Bitcoin spot trading volume has decreased by 33.67% in a 24-hour timeframe. Similarly, the spot exchange trade volume was shown by CryptoQuant data to be 9,627, down 81% from 50,692 at the beginning of the week.

The situation looks even more glaring when you consider falling derivatives volumes as well. On-chain data collected by CryptoQuant indicates that the derivatives trade volume is currently at 108,852. This represents a decrease of 88% from the volume of 950,331 at the beginning of the week.

What Does This Mean For The Price Of Bitcoin?

When activity in these markets dwindles, it signals a lack of interest from institutional traders and retail investors. With interest seeming to wane, the next few weeks could determine Bitcoin’s near-term direction. As the largest cryptocurrency in the world, this could also determine the direction of the majority of the crypto market.

At the time of writing, Bitcoin is trading at $26,556. Without much trading activity to drive prices up, Bitcoin could continue trading sideways or even face downward pressure. The next major support for Bitcoin is at $25,000, and a fall below this price could indicate a prolonged bearish trend with increased selling pressure. 

Another way this could go is the lower price eventually leading to higher volumes again as investors see an opportunity to buy. According to a social media post by crypto analyst Captain Faibik, Bitcoin could reach as low as $23,000 in October before breaking out to reach $34,500 by early next year.

Similarly, Didar Bekbauov, founder and CEO of Bitcoin joint mining business Xive, stated that the price of Bitcoin could soar past the year-to-date (YTD) price of $31,700 while speaking to Bitcoinist.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from iStock

- Scott Matherson
Explosive 6-Week Growth Sees Base Hit New Milestone

Coinbase’s layer 2 scaling solution, called Base, has seem a meteoric rise in popularity recently. In just six short weeks since its launch, Base’s total value locked (TVL) has skyrocketed to nearly $400 million. This rapid rise in use and popularity has even seen it recently overtake the Solana blockchain in TVL. 

Coinbase’s Layer 2 Scaling Network TVL Overtakes Solana 

Base operates as a layer 2 network on Ethereum launched by Coinbase in collaboration with Optimism to offer a safe, low-cost, developer-friendly way to build on-chain. Since its launch, Base has managed to find a strong market fit, allowing it to quickly penetrate the crypto market. However, this hasn’t been without some hiccups.

Before its public launch, Base had some glitches, which developers were able to rectify quickly. Earlier this month, the network faced another setback as block production unexpectedly stopped for 45 minutes. According to DeFi TVL aggregator DefiLlama, Base’s TVL has risen +111% in the past month to now holding more than $370.29 million. 

Last week, Base’s growth saw it blow past the Solana blockchain in terms of transaction volume. This growth has continued, and the Layer-2 network has now moved ahead of Solana whose total value locked (TVL) dropped by 12.22% in the last month to $310 million. Also, this places Base’s TVL ahead of other popular chains like Cronos, Bitcoin, and Cardano.

Base Sees Massive Growth In Just 6 Weeks

Base’s growth kickstarted with Aerodrome, a decentralized exchange, which deposited $190 million on the network after its launch. Base’s growth can also be attributed to the popularity of, a decentralized social app. With a current TVL of $38.6 million, is one of the projects native to Base with a the largest stake. Other projects with a considerable stake in TVL include Stargate, Curve DEX, and Compound V3.

At the moment, Ethereum continues to lead the pack in terms of TVL. However, the coming months will be crucial in determining whether Base can sustain its momentum and continue gaining mainstream traction. At its current trajectory, Base could surpass $500 million in TVL in the coming weeks and solidify itself as a leader in layer-2 scaling networks. 

According to BaseScan, the number of daily transactions on Base reached a new high of 1.88 million on September 14, as reported by BaseScan. The layer-2 network has now processed more than 40.31 million transactions at the time of writing.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from iStock

- Scott Matherson
Bitwise Withdraws Application, A Big Blow To Ethereum ETFs?

In a recent development, asset manager Bitwise has withdrawn its application to transform its existing Bitcoin futures ETF (Bitwise Bitcoin Strategy Optimum Roll ETF) to one that invests in both Bitcoin and Ethereum futures contracts. 

This has raised speculations about the reason for this decision and what it means for the Ethereum futures ETFs projected to launch in October.

Why Bitwise Withdrew Its Application

Reporting this development on his X (formerly Twitter) platform, Bloomberg Analyst James Seyffart stated that the asset manager has chosen to maintain only its Bitcoin exposure following this move. 

Many were more concerned about the reason for this decision. To clarify, Seyffart stated that the Asset manager may have made this decision simply because it doesn’t see the “benefit in having a dual BTC and ETH ETF,” especially considering that their Ethereum futures ETF is expected to launch only a few days after the first one launches. 

Seyffart also believes the firm’s Optimum Roll ETF investors may have preferred only exposure to Bitcoin rather than Bitcoin and Ethereum, which prompted the decision. 

This development comes after Bitwise had withdrawn its application for its Bitwise Bitcoin and Ether Market Cap Weight Strategy ETF, which it filed with the SEC on August 3. The asset manager had made its decision known in a filing to the SEC dated August 31. 

Meanwhile, the filing with the SEC to withdraw its Bitwise Bitcoin and Ether Equal Weight Strategy ETF application is dated September 22.

Ethereum price chart from (Bitwise ETF)

What Now For Bitwise And Ethereum Futures ETF

It is worth mentioning that Bitwise isn’t backing out of the Ethereum futures ETF race despite these recent developments. The asset manager still has its Bitwise Ethereum Strategy ETF application with the SEC, with the fund seeking to invest in Ethereum futures contracts. 

The withdrawals have also not affected Seyffart’s optimism about the launch of several Ethereum futures ETFs in October as he believes there isn’t much meaning to read into the asset manager’s actions than it being “some sort of product decision.”

He noted that the only time there may be reason for concern is if Valkyrie were to withdraw its application. Like Bitwise, Valkyrie had also applied to the SEC to transform its Bitcoin futures ETF (Valkyrie Bitcoin Strategy ETF) into a fund that invests in both Bitcoin and Ethereum futures contracts. 

Barring any denial by the SEC, asset managers like Volatility Shares, VanEck, ProShares, Roundhill, and even Bitwise are expected to launch their Ethereum futures ETF in October. 

Based on their respective filing dates, Volatility Shares is set to gain a first-mover advantage, launching on October 12, while others are expected to launch after. 

- Christian Encila
XRP Forecast: Is A Retreat Below $0.5 Likely Before October?

XRP has maintained its position within the confines of a symmetrical triangle pattern, with today’s modest surge doing little to alter its trajectory.

This symmetrical triangle pattern has exerted significant influence over XRP’s price movements for the past month, indicating that it may continue to dictate the coin’s fate in the near future.

The symmetrical triangle pattern is a technical analysis chart pattern characterized by converging trendlines, with one representing the coin’s lower highs and the other symbolizing its higher lows. 

This pattern suggests a period of consolidation and uncertainty in the market, as traders weigh the potential for a breakout in either direction.

A Crucial Breakout Looms For XRP 

Analysts suggest that a breakout from either side of the symmetrical triangle pattern could set the stage for a significant directional rally in XRP. Should the coin break above the upper trendline, it could potentially surge to a price of $0.55.

As of now, XRP is trading at $0.512876, according to CoinGecko. Over the past 24 hours, it has recorded a modest increase of 1%, while its seven-day performance shows a 2.5% increase.

Triangle Resistance Continues To Hold

The report notes that the recent pullback in XRP marks the third instance where the price has retraced from the triangle’s upper trendline, underscoring the pattern’s dominance over this asset.

Daily charts further emphasize this bearish sentiment, revealing an “Evening Star” pattern at the resistance, often seen as a precursor to potential downtrends.

If sellers continue to dominate the market, XRP’s price may decline by approximately 6%, potentially pushing it down to the $0.485 level, which would serve as a retest of the triangle’s lower boundary. As long as XRP oscillates within these trendlines, its price is likely to remain range-bound.

Awaiting Exciting Developments

Meanwhile, the XRP community is eagerly anticipating several exciting developments, including the launch of the Xahau network and the associated Evernode airdrop. The Xahau Ledger, which serves as the proposed Hooks sidechain and smart contract sidechain for the XRPL ecosystem, plays a crucial role in these innovations.

In a recent tweet, Evernode, the Layer-2 blockchain behind these innovations, announced that its new website is now live. To safeguard its users against Twitter scammers, Evernode has implemented strict protective measures.

New Website:

To mitigate Twitter’s scammers, we’ll: 1. Only tweet links to website articles. 2. Never DM you. 3. Never offer support.

Anybody claiming to be our “Help Desk” or “Customer Support” or “Dev Team” is a scammer trying to steal your coins.

— Evernode – No Trustline & No Support🪝 (@EvernodeXRPL) September 22, 2023

It will only tweet links to website articles, avoiding direct messages (DMs) to users and refraining from offering support, thus ensuring the safety and security of its community.

XRP’s current positioning within the symmetrical triangle pattern suggests that a breakout could be imminent, with both bullish and bearish scenarios on the horizon.

As the XRP community eagerly anticipates upcoming developments, maintaining vigilance against potential scams remains paramount for all participants in the cryptocurrency space.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Pexels

- Scott Matherson
Why This Bank CEO Wants 99% Of The Crypto Industry Gone

In a bold and contentious statement, Caitlin Long has asserted that 99% of the crypto industry should be eliminated to decrease leverage buildup and improve the industry’s future advancement.

Industry Overhaul Demanded For Sustainability

Caitlin Long, Founder and CEO of Custodia Bank, a crypto asset banking company, has called for a seismic change in the crypto industry and its practices. The CEO emphatically suggested that only 1% of the crypto industry should be allowed to operate while 99% of the industry should be destroyed and the majority of crypto firms in the industry “flushed out.”

In a heated interview with Bezinga, Long was adamant about her controversial views of the crypto industry, stating that the industry had enormous potential but was being set back significantly by crypto firms operating using highly leveraged trading activities. 

Long stated that she had an active discussion with a distinguished individual who shared her views and supported the notion that the majority of the industry needs to be purged for it to thrive.

“I had a debate with a prominent person. I said, ‘Look, 90% of this industry still needs to go away, and he said it’s 99%, and I think that’s right. I mean whether it’s 90% or 99%, you see the point, there’s still a bunch of crap that needs to be flushed out,” Long said.

Crypto total market cap chart from

Long Compares Crypto Industry To 1999 Tech Stock Bubble

Caitlin Long has likened the current crypto industry to the tech stock bubble in 1999. Notably, the tech stock bubble which coincided with the growth of internet adoption, rose 800% in investments, attracting investors from prominent companies all over the world. After reaching its peak, the stock market crashed by 740%, leaving the majority of investors and companies bankrupt and shut down. 

Long compares this stock market crash to the crypto market crash in 2022 which saw Bitcoin falling by about 70% and major altcoins by 80% to 90%, resulting in the bankruptcy of major firms and investors. 

She also stated that the crypto industry would not succeed if it continues to amplify trading activities through leverage while allowing unregulated exchanges to operate. 

“It is in some ways a repeat of the tech stock bubble of 1999, just so much crap. And it will not succeed, and it needs to be flushed, but markets are flushing it,” Long stated. 

Long suggested that a lack of proper regulations on crypto exchanges is exacerbating the risks and challenges in the crypto space. Additionally, she revealed that she was in support of the US Securities and Exchange Commission’s (SEC) recent crackdown on crypto exchanges in the industry.

Nevertheless, the CEO has not proposed a total annihilation of the crypto industry, just a major portion of it. When asked about her views on the Bitcoin cryptocurrency, Long stated, “I don’t really care about the price. It is the least interesting aspect of this technology. I’m more interested in it as a technology.”

- bitFlyer Europe
Our Commitment to the Protection of Customer Assets
Our Commitment to the Protection of Customer Assets

Given the recent news and market volatility in the digital asset industry, we felt it is timely to reiterate to our valued customers, bitFlyer’s commitment to protecting their account and digital assets. We also wanted to inform our users that bitFlyer is in no risk of facing any liquidity issue.

Since 2014, bitFlyer has always been at the forefront at shaping the regulatory environment within the crypto industry. In Europe, bitFlyer is a regulated entity with a payment institution license from the Luxembourg Ministry of Finance and is the first Luxembourg based company to receive the Virtual Asset Service Provider registration with the CSSF.

Since its establishment in 2018, bitFlyer Europe has adopted a customer first approach by prioritizing regulatory compliance and industry-leading security practices. At bitFlyer, institutional and retail customers benefit from:

An exchange with a track record of stability and securityCustomer assets stored offline in cold storage.Multi-factor authentication (MFA) to prevent unauthorized accessAdvanced encryption using SHA-2 cryptography standardsMultisig Bitcoin addresses to prevent a full range of hacking activities and cyber attacks

Funds deposited on bitFlyer Europe (both FIAT and crypto assets) are completely segregated from bitFlyer company funds. No qualifications, asterisks, or fine print. Tokens are safeguarded in a cold storage wallet, ready to be sent back at the click of a button. Multiple physical and logical security measures are in place to ensure that our customers' assets are kept safe and we operate in compliance with these segregation rules.

We will continue to provide services that satisfy our customers, aiming to be a trusted platform where customers can trade safely and securely. bitFlyer remains active in helping shape the future of crypto and remains confident in its future.

About bitFlyer EUROPE S.A.

bitFlyer EUROPE S.A., a wholly-owned subsidiary of bitFlyer Holdings – a leading cryptocurrency exchange based in Japan – is a regulated entity with a payment institution licence from the CSSF, passported to all EU member states. bitFlyer EUROPE S.A. also holds the first VASP registration in Luxembourg.


- bitFlyer Europe
European Customers Can Now Trade ETH/EUR Pair on bitFlyer
European Customers Can Now Trade ETH/EUR Pair on bitFlyer

Benefit from zero-fee pricing on one of the world’s most stable and secure crypto trading platforms.

LUXEMBOURG, November 9th, 2022 —

bitFlyer, one of the world’s largest and most trusted cryptocurrency exchanges, continues to expand its global footprint as it rolls out its Ethereum to Euro (ETH/EUR) pair to traders located in Europe. This announcement highlights bitFlyer’s commitment to expanding its product suite while playing to the firm’s core strength – providing industry-leading liquidity and deeply discounted fees to its sophisticated crypto trading community.

As Japan’s #1 cryptocurrency exchange by volume for five consecutive years, bitFlyer’s order flow, global presence and strong footprint in the Asian market uniquely positions our customers to capitalise on optimal bid or ask prices (depending on market trends).

The ETH/EUR pairing gives institutional and retail customers of bitFlyer EUROPE S.A. the opportunity to tap into one of the industry’s largest and most differentiated liquidity pools while they trade on a secure, licenced and regulated exchange in Europe. In September 2022, bitFlyer introduced an ETH/BTC cross-border trading pair, and having seen much success with the launch of its zero-fee campaign, decided to extend this price schedule through the end of the year as well as offering zero-fee trades for this new pair starting November 14.

At bitFlyer, institutional and retail customers benefit from:

An exchange with a track record of stability and securityCold wallet storage for customer assetsGlobal support to handle our VIP customer queries

"The launch of our ETH/EUR board follows our long-standing pledge to increase the number of trading pairs for our European institutional customers. bitFlyer continues zero-fee trading for our ETH/EUR pair, which complements our limited-time no-fee ETH/BTC board which has been in place since September. Unlocking the liquidity required to support Ethereum trades denominated in EUR represents a historic milestone for our company,” stated Ami Nagata, co-head and Chief Operating Officer of bitFlyer EUROPE S.A.

bitFlyer is expanding equitable access to digital assets globally – reducing inefficiencies in cryptocurrency markets – while remaining fully compliant with all EU regulations. As the first exchange to collectively gain licenses in Japan, Europe, and the United States, bitFlyer stands unrivaled in shaping the industry's dynamic regulatory frameworks.

About bitFlyer EUROPE S.A.

bitFlyer EUROPE S.A., a wholly-owned subsidiary of bitFlyer Holdings – a leading cryptocurrency exchange based in Japan – is a regulated entity with a payment institution license from the CSSF, passported to all EU member states. bitFlyer EUROPE S.A. also holds the first VASP registration in Luxembourg.


- bitFlyer Europe
Introducing our new Ethereum pair on Lightning!
Introducing our new Ethereum pair on Lightning!

(The ETH/BTC trading pair is currently unavailable)

Today, we are launching our new pair on Lightning: ETH/BTC.

Access to a new Market

Individual and institutional traders in Europe will now be able to trade on bitFlyer's ETH/BTC market, which has only been available to bitFlyer Japan customers until now.

This is another addition in our cross-border offering which gives traders access to the unique liquidity of the Japanese market.

What is bitFlyer Lightning? - Check out our Lightning guide here.

Our first crypto to crypto pair - and not the last

The launch of our first cryptocurrency to cryptocurrency pair on our trading platform opens new possibilities and opportunities to our users and we are excited to see how this new feature will be used by all of you.

To celebrate this launch, we are also running a “zero fees” campaign on this newly added pair. You can find some details about it via the link below.

Zero fees for ETH/BTC trading campaignTo celebrate the launch of ETH/BTC, we are also running a “zero fees” campaign on this newly added pair.Introducing our new Ethereum pair on Lightning!bitFlyer EuropebitFlyer EuropeIntroducing our new Ethereum pair on Lightning!If you are ready to start trading ETH/BTC:Already a bitFlyer customer? Log in to Lightning!
New to bitFlyer? Register now!
Need extra info about BTC and ETH?What is Bitcoin? How does BTC works? A guide for BeginnersLaunched in 2009, Bitcoin is the world’s first cryptocurrency, also known as “Digital Gold”. Satoshi Nakamoto, the pseudonymous founder, introduced Bitcoin as ‘Open Source Peer-2-Peer Money’ for secured, verifiable digital transactions without involving intermediaries like banks.Introducing our new Ethereum pair on Lightning!bitFlyer EuropebitFlyer EuropeIntroducing our new Ethereum pair on Lightning!What is Ethereum? (ETH) | Its token, features and capabilitiesEthereum is the second-largest blockchain-cryptocurrency platform after Bitcoin, in terms of market capitalisation. It was conceived by Vitalik Buterin—then 19 years old—and formally launched in 2015.Introducing our new Ethereum pair on Lightning!bitFlyer EuropebitFlyer EuropeIntroducing our new Ethereum pair on Lightning!
- bitFlyer Europe
New Coins available to Trade on bitFlyer Europe!
New Coins available to Trade on bitFlyer Europe!

Our selection of coins to trade on our platform just got larger! With the addition of 4 new coins, we wanted to give our customers more choice in their trading journey and help them to discover exciting cryptocurrency projects.

The 4 coins that have been added to our platform are:

Polkadot (DOT)Stellar (XLM) Tezos (XTZ)Basic Attention Token (BAT)

All 4 coins will be added to our Buy/Sell service as of today on both our App and on our Web platform.

New Coins available to Trade on bitFlyer Europe!The new coins on Buy/Sell

Check out our new coin selection now!

Go further on bitFlyer with our App, as you can earn BTC with our referral program:

New Coins available to Trade on bitFlyer Europe! New Coins available to Trade on bitFlyer Europe!

Don't forget that you can set up a recurring order for all our new coins on our Recurring Buy Service:

New Coins available to Trade on bitFlyer Europe!Recurring Buy is now also available on our Web platform!

Already a bitFlyer customer? Buy Now!

Ready to join us? Register on bitFlyer!

- bitFlyer Europe
Recurring Buy now available on Web!
Recurring Buy now available on Web!

As of today, our "Recurring Buy" feature is available on our Web Platform, which means our users can now purchase crypto automatically with as little as 10 EUR directly from their browser.

Recurring Buy is available on the left hand side menu after you log into your account.

Recurring Buy now available on Web!Recurring Buy on WebThe smartest and easiest way to invest in cryptoSimple SetupSchedule a recurring buy in a few stepsAutomatic PurchasesBuy crypto daily, weekly, biweekly or monthlyStart Small or Go BigSet up regular purchases as low as €10 or as high as €10,000Available crypto

Recurring buy can be used with all 7 types of cryptocurrencies currently handled on our platform:

Bitcoin (BTC)Ethereum (ETH)Ethereum Classic (ETC)Litecoin (LTC)Bitcoin Cash (BCH)Monacoin (MONA)Lisk (LSK)Purchase frequency

You can select from daily, weekly, biweekly and monthly.

Minimum purchase amount

It can be set from as little as 10 EUR.

Recurring Buy fee

There is no additional fee for Recurring Buy. Click here for details on other fees.

Available devices

Apart from Web, our recurring buy feature is also available on our mobile app "bitFlyer wallet" (iOS, Android).

Recurring Buy now available on Web! Recurring Buy now available on Web!

Already a bitFlyer customer? Login!
New to bitFlyer? Register now!

Important notes :

*Please ensure that there are sufficient funds in your bitFlyer account before the scheduled day of purchase. If there is an insufficient balance, the purchase will not be executed.

*Unless a purchase is not executed, the automatic purchase scheduling will not be cancelled.

*The time for purchase cannot be specified. bitFlyer will decide the time of purchase on the designated date.

*The rate used at the time of purchase will be based on the price on our Buy/Sell service.

*System troubles on the bitFlyer side may cause the purchase not to be executed. In that case, no automatic purchase will be executed until the next scheduled purchase.

- bitFlyer Europe
Introducing our New Logo!
Introducing our New Logo!

Today, we present you the new brand logo of bitFlyer! Let’s take a look at what changed:

Introducing our New Logo!Old Logo and New Logo

In this update, we have retained the best features of the former Logo and changed the colors to be brighter and more vivid.

Additionally, the font used in the new Logo is unique to bitFlyer but remains reminiscent of our previous one.

This change will be reflected on our Web platform as well as on our iOS and Android App.

If you’re curious to check our new Logo by yourself, sign in to your account:

Already a bitFlyer customer? Login!
New to bitFlyer? Register now!

Alternatively, download our App today:

Introducing our New Logo! Introducing our New Logo!
- bitFlyer Europe
New portfolio screen for our iOS and Android app is now live!
- bitFlyer Europe
Our new Funding Page is here!
Our new Funding Page is here!

We are happy to announce that we have updated the user interface of our Funding page on the Web (desktop version).

Our new Funding Page is here!New look of our Deposit EUR page

With the introduction of a sidebar on our Funding page, navigating between coins or deposit methods has never been easier!

Additionally, the simplified interface allows for a smoother experience when trying to deposit or withdraw your funds on our platform.

Our new Funding Page is here!New look of our Deposit BTC page

Check out our new Funding page today!

Already a bitFlyer customer? Login!
New to bitFlyer? Register now!
- bitFlyer Europe
Happy Bitcoin Pizza Day 2021!
Happy Bitcoin Pizza Day 2021!

Today is May 22nd, which means it's Pizza Day for the Bitcoin/Crypto community!

On May 22nd 2010, Laszlo Hanyecz bought two Pizzas for 10,000 BTC, which was worth around €33.00 back in 2010. This payment now acts as a milestone for the digital currency, and is acknowledge to be one of the first purchases of a product with Bitcoin.

In case you are new to Bitcoin, here is a quick guide to get you up to speed:

What is Bitcoin? - A bitFlyer Academy Guide for BeginnersLaunched in 2009, Bitcoin is the world’s first cryptocurrency, also known as “Digital Gold”. Satoshi Nakamoto, the pseudonymous founder, introduced Bitcoin as ‘Open Source Peer-2-Peer Money’ for secured, verifiable digital transactions without involving intermediaries like banks.Happy Bitcoin Pizza Day 2021!bitFlyer EuropebitFlyer EuropeHappy Bitcoin Pizza Day 2021!

As of today, and for the 11th birthday of Pizza Day, 1 Bitcoin is worth around €30,000, which means Laszlo bought two Papa John's Pizzas, for €300 Millions if it happened today. Just wow.

Happy Bitcoin Pizza Day 2021!Check our BTC Chart pageHow much was Bitcoin that day?

Have a look at our blogpost from last year, when we celebrated the 10th anniversary of the Pizza Day with this jaw-dropping infographic:

From two pizzas to your own private island: Tracking the value of 10,000 Bitcoin to celebrate Bitcoin Pizza Day 2020We have done a bit of research to find out what you could have bought with 10,000 bitcoins on Bitcoin Pizza Day in 2010 all the way up to today. So what might those bitcoin millionaires amongst you choose to buy to celebrate ten years of Bitcoin Pizza Day?Happy Bitcoin Pizza Day 2021!bitFlyer EuropebitFlyer EuropeHappy Bitcoin Pizza Day 2021!Refer a friend, get a Pizza... Sort of!

Fancy a Pizza yourself today? Well we can help! Successfully refer a new user to bitFlyer and treat yourself with the 10€ reward!

bitFlyer Referral Program - Invite friends, get free BTC!Today we launched our new Referral Program where you and your friends can earn rewards! Both you and your friend will get €10 worth of Bitcoin each when your friend creates an account and trades €100 of crypto or more.Happy Bitcoin Pizza Day 2021!bitFlyer EuropebitFlyer EuropeHappy Bitcoin Pizza Day 2021! Already a bitFlyer customer? Login!
New to bitFlyer? Register now!
Happy Bitcoin Pizza Day 2021! Happy Bitcoin Pizza Day 2021!
- bitFlyer Europe
The updated interface of Buy/Sell on the web is here!
The updated interface of Buy/Sell on the web is here!

We are happy to present you our new interface of Buy/Sell available on the web (both desktop and mobile). Let’s see what are the new functionalities:

The updated interface of Buy/Sell on the web is here!News articles - up to three the most important articles from the cryptocurrency industry daily.
Market Statistics - the highest and lowest movements of the prices and market capitalization in the last 24 hours.
Currency description of each coin available on the bitFlyer platform.
Trading History - clear overview of the history of your orders.

The web version of updated Buy/Sell functionality is also available on mobile:

The updated interface of Buy/Sell on the web is here!The updated interface of Buy/Sell on the web is here!

Trading crypto has never been easier! Check the new functionalities on your own today.

Already a bitFlyer customer? Login!
New to bitFlyer? Register now!
- bitFlyer Europe
New home screen for our iOS and Android app is now live!
New home screen for our iOS and Android app is now live!

Today, we present you our new home screen of the bitFlyer App for iOS and Android! Let’s take a look what changed:

1. New interactive home screen banners that will allow you to make a quick action:

New home screen for our iOS and Android app is now live!

2. Display of the coins with the biggest movements in the last 24 hours:

New home screen for our iOS and Android app is now live!

3. Direct banners to our special offers and blog so you don’t have to look for them inside the app!

New home screen for our iOS and Android app is now live!

If you’re curious to check the improvements by yourself, download now the bitFlyer App:

New home screen for our iOS and Android app is now live! New home screen for our iOS and Android app is now live!Start trading today!

Go further with the bitFlyer with our App, as you can setup recurring purchases and earn BTC with our referral program.

Set up regular crypto purchases with Recurring Buy, now live on our App!Today, we are launching a new “Recurring Buy” feature, which means our users can now purchase crypto automatically with as little as 10 EUR by a simple set up. You can use it from our mobile app “bitFlyer wallet”, available on both iOS and Android.New home screen for our iOS and Android app is now live!bitFlyer EuropebitFlyer EuropeNew home screen for our iOS and Android app is now live!bitFlyer Referral Program - Invite friends, get free BTC!Today we launched our new Referral Program where you and your friends can earn rewards! Both you and your friend will get €10 worth of Bitcoin each when your friend creates an account and trades €100 of crypto or more.New home screen for our iOS and Android app is now live!bitFlyer EuropebitFlyer EuropeNew home screen for our iOS and Android app is now live! Already a bitFlyer customer? Login!
New to bitFlyer? Register now!
- bitFlyer Europe
What is Lisk? (LSK) - A bitFlyer Academy Guide for Beginners
What is Lisk? (LSK) - A bitFlyer Academy Guide for Beginners

Lisk (LSK) is a blockchain-based, decentralised computational platform. It was founded in early May 2016, by Max Kordek and Oliver Beddows.

As a fork of Crypti, a JavaScript-based platform for dApps, Lisk’s primary vision is to broaden and ease the accessibility of blockchain technology, both in development and usage. What does LSK means? Well is the name of the project’s utility token, used to pay for transaction fees on the Lisk blockchain.

What is Lisk? (LSK) - A bitFlyer Academy Guide for BeginnersThe Lisk Ecosystem: Elements & Features

What is Lisk? Lisk is predominantly a platform for creating and deploying Decentralised Applications or dApps—applications hosted on globally distributed computer networks, rather than on centralized servers.

The platform’s users can create, publish, distribute, and monetise their dApps, as well as leverage the ecosystem’s native cryptocurrency, LSK. In other words, Lisk is a self-sustaining and integrated platform, supporting features such as smart contracts, blockchain-based storage, and so on.

Interested in buying Lisk? Register now!
JavaScript Compatibility

Substantial learning curves associated with specific programming language requirements have been a major obstacle to the wide-scale adoption of blockchain-based solutions. Lisk addresses this problem by enabling dApp development in JavaScript (JS), which is especially appealing to developers with a traditional outlook.

Apart from JS, Lisk also works with TypeScript, which is another commonly-used language for web development. Consequently, unlike in the case of Ethereum, developers working with Lisk don't usually have to learn a new, platform-specific programming language.

The Delegated Proof of Stake Protocol (DPoS): Resource-Optimised Consensus

Despite watertight security, the Proof-of-Work (PoW) consensus protocol, implemented by Bitcoin, among others—has severe scalability and environmental trade-offs. As a scalable and eco-friendly alternative, Lisk adopts a Delegated Proof of Stake (DPoS) consensus mechanism.

Briefly put, every member of the network, that is LSK token holders, can vote for 101 delegates. In this context, casting a vote means ‘staking’ (locking) a predefined amount of LSK tokens in special wallets. In turn, the ‘active delegates’ are responsible for validating Lisk transactions and for creating blocks.

What is Lisk? (LSK) - A bitFlyer Academy Guide for Beginners

The Lisk blockchain is considerably fast, with new blocks being created roughly every 10 seconds, while each cycle of 101 blocks takes around 16 minutes for settlement. To compare, Bitcoin takes around 10 minutes for the creation of new blocks.

Complementing the network’s sidechain architecture, the said validation mechanism enhances scalability. Furthermore, delegates are incentivised through rewards, distributed in LSK tokens.

The Mechanisms of Lisk: Fostering Innovation with SDK

Extending blockchain’s accessibility to the general populace is Lisk’s primary mission. The platform is predominantly focused on decentralised software development, while the LSK token serves as the system’s internal mode of value exchange. In this context, Lisk’s Software Development Kits or SDKs play a crucial role.

The Lisk SDK

Lisk’s SDK represents a reliable, easy-to-use, and customisable toolkit, designed to assist the development of Lisk-compatible applications. Broadly, the kit has three components:

Framework: Establishes and maintains the interactions between modules on the Lisk network.Elements: A collection of libraries, used to implement various functionalities to custom dApps.Commander: A command line tool that enables Lisk users to interact with the underlying blockchain.Lisk & Ethereum: A Brief ComparisonWhat is Lisk? (LSK) - A bitFlyer Academy Guide for Beginners

In general, both Ethereum and Lisk are distributed computational platforms, in other words, decentralised super computers, that allow users to create blockchain-based applications. However, despite Ethereum being the most popular ecosystem of its kind, Lisk has certain distinctions which are better-suited for certain requirements.

Lisk has a sidechain architecture for greater scalability, while Ethereum does not.Ethereum has a platform-specific programming language, called Solidity, whereas Lisk is compatible with JavaScript and TypeScript.Ethereum’s execution environment, called Ethereum Virtual Machine (EVM), is secured using a PoW-PoS hybrid, while the Lisk Virtual Machine implements a Delegated Proof of Stake (DPoS).With a 10 second blocktime, as compared to Ethereum’s 15 second, Lisk is the faster one out of the two ecosystems.

Considering the above points, it’s evident that Lisk is a potent alternative to Ethereum, with a wider scope in certain regards. To participate on the network, users can buy, sell, and trade LSK on bitFlyer. Join bitFlyer today.

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The information contained in this article is for general information purposes only. bitFlyer EUROPE S.A. is in no way affiliated with any of the companies mentioned herein. Neither does bitFlyer assume any responsibility nor provide any guarantee for the accuracy, relevance, timeliness or completeness of any information provided for by these external companies.

You accept that you are responsible for carrying out your own due diligence when investing. bitFlyer shall in no way be responsible for any acts taken on account of this article nor does bitFlyer provide any investment advice for its users.

- bitFlyer Europe
What is Litecoin? (LTC) - A bitFlyer Academy Guide for Beginners
What is Litecoin? (LTC) - A bitFlyer Academy Guide for Beginners

Commonly known as the first successful altcoin, Litecoin is one of the early spinoffs of Bitcoin, started in 2011 as an attempt to make a cryptocurrency more appropriate for use as digital cash.

Created by developer Charlee Lee, Litecoin has some advantages over its other cryptocurrency competitors. For instance, compared to Bitcoin, Litecoin offers much lower transaction fees. It is consistently ranked in the top five and top ten cryptocurrencies, holding ground with a stable market share of around 5% since its creation, even as other coins rise and fall in popularity.

Despite introducing new possibilities for the world of finance and technology, Bitcoin’s core came with significant usability and scalability shortcomings Litecoin (LTC) was created as an alternative solution to these problems.

What is Litecoin? (LTC) - A bitFlyer Academy Guide for Beginners

Litecoin emerged out of a Bitcoin fork, proposed and developed by Charlie Lee, a renowned computer scientist. The project’s primary vision was to become the silver to Bitcoin’s gold, thereby widening people’s access to cryptocurrencies. Prior to incepting the Litecoin Foundation in 2017—a non-profit backing the Litecoin project—Lee worked at Google and Coinbase, among other firms.

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Distinguishing Features: How Does Litecoin Work?

In general, Litecoin’s primary ‘competitor’ is Bitcoin, although the two networks complement each other in several regards. For one, Litecoin inherited Bitcoin’s code, enhancing the same with many novel implementations.

On the other hand, Litecoin pioneered technologies like the Lightning Network and Segregated Witness (SegWit), which have eventually been adopted by Bitcoin.

Scrypt for Speed

In terms of transaction settlement, Litecoin is nearly four times faster than Bitcoin. To achieve this, Litecoin implements a modified version of Bitcoin’s Proof-of-Work (PoW) consensus mechanism, namely Scrypt.

The implementation aligns with Litecoin’s agenda of addressing concerns related to ASIC-based mining, in which it has been partially successful. Instead of using highly expensive ASIC hardware, Litecoin miners can work with more affordable Graphics Processing Units (GPUs).

Thanks to Scrypt, Litecoin successfully reduced the block confirmation time, the time taken to finalise new blocks, to 2.5 minutes, as compared to Bitcoin’s 10 minutes. As a result, while Bitcoin settles roughly 7 transactions per second, Litecoin completes around 56 transactions per second.

SegWit for ScalabilityWhat is Litecoin? (LTC) - A bitFlyer Academy Guide for Beginners

Blockchain-based transactions are cryptographically encrypted, meaning that they include signatures of the sender and/or receiver to ensure authenticity and so on. In the original Bitcoin Core, these signatures were included in the transaction, so to say, thus increasing the size of each transaction.

In 2017, Litecoin implemented Segregated Witness or SegWit, a solution proposed by Blockstream co-founder, Pieter Wuille. To put it simply, SegWit separates signatures from transactions, putting them into the associated input rather than in the transaction.

This effectively reduces the transaction’s size, and consequently, more transactions can be added to each block. Combined with Scrypt, SegWit imparts a heightened scalability to Litecoin, which in turn, makes the network more relevant for large-scale usage.

The LTC Token: Litecoin’s Native Cryptocurrency

Similar to Bitcoin, Litecoin is an open-source, peer-to-peer digital currency, based on the network’s native cryptocurrency, namely the LTC token. It can be used for a range of financial purposes and has a maximum supply of 84 million.

Litecoin’s fully decentralised payment network supports near ‘zero fee’ for transactions in LTC. Moreover, the token’s code architecture facilitates optimum efficiency in terms of storage. It also provides greater security against malware, viruses, and hacks.

What is Litecoin? (LTC) - A bitFlyer Academy Guide for Beginners

Rewarding miners to incentivise desirable behaviour is one of LTC’s primary internal functions within the Litecoin network. Initially, the block reward was 50 LTC. However, the algorithm halves the amount every 4 year (roughly, after every 840,000 blocks). At the time of writing, in early 2021, miners receive 12.5 LTC tokens for each block.

Backed by the network’s functionalities and inherent value, LTC’s market performance has progressed steadily over time. To know more about Litecoin, as well as to buy, sell, and trade LTC, join bitFlyer and follow our blog.

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The information contained in this article is for general information purposes only. bitFlyer EUROPE S.A. is in no way affiliated with any of the companies mentioned herein. Neither does bitFlyer assume any responsibility nor provide any guarantee for the accuracy, relevance, timeliness or completeness of any information provided for by these external companies.

You accept that you are responsible for carrying out your own due diligence when investing. bitFlyer shall in no way be responsible for any acts taken on account of this article nor does bitFlyer provide any investment advice for its users.

- bitFlyer Europe
The State of Investing & Crypto in different markets
The State of Investing & Crypto in different markets

2020 was a year of tremendous growth in the cryptocurrency industry. We saw Bitcoin reach new highs, as renowned financial institutions invested in this revolutionary asset class and enthusiasm across the market bounced back.

Last year, bitFlyer Europe conducted the survey in European countries measuring the awareness and faith in the future of crypto. Back then two thirds of Europeans admitted to having faith that cryptocurrencies will still exist in 10 years’ time, however the majority are still uncertain how they will be used.

In September 2020, when comparing our data from 2020 to 2018, we have seen a rise in accounts opened by users in their 20s in the first half of 2020 at group level.

As a global cryptocurrency exchange that has offices, among others, in San Francisco, CA, and Tokyo, Japan, this time we decided to dive deep into the current state of investing and cryptocurrencies in the US and Japan, and explore the differences between these two big and interesting markets. Our survey targeted 3000 participants aged 20-59 across Japan and the US.

Key findings from our research:Two-thirds of people in the US said they’re interested in investing more in financial assets in 2021.30% of Americans think Bitcoin/Cryptocurrencies will be an attractive investment this year, making it two times more popular than Gold and the 4th most selected asset. The most popular asset was stocks at 54%.82% of the US population has heard about cryptocurrencies.Roughly 20% of respondents in the US are currently using or have used cryptocurrencies in the past.76% of people in the US that have heard about crypto have a positive perception about cryptocurrencies as an investment. In Japan, 78% of the respondents have a negative perception, showing a pretty strong contrast between the two regions.Our research shows that the current market sentiment amongst American investors is very bullish compared to the Japanese, reinforcing the argument that the last run-up in price was mainly driven by US investors.The State of InvestingThe State of Investing & Crypto in different markets

Our research shows that 82% of people in the US invest in financial assets, with almost a third of the population allocating over a quarter of their net worth into investments. On the other hand, in Japan, 69% of people do not invest in financial assets, showing a significant contrast across the two regions.

In both the US and Japan, men tend to invest more than women, while also allocating a higher share of their net worth into their investments.

The State of Investing & Crypto in different markets

There is also a significant difference in the outlook for investing this year. 68% of respondents in the US are planning to invest or continue investing, whereas that figure is only 18% in Japan.

Why are people investing in 2021?

Across the globe, one of the most popular reasons people are looking to invest this year is to prepare for the future and increase their long-term net worth. A large share of respondents are looking to diversify their income through investments and believe that investing is the most powerful and quickest way to grow their capital.

“In order to build your wealth, you will want to invest your money. Investing allows you to put your money in vehicles that have the potential to earn strong rates of return. If you don't invest, you are missing out on opportunities to increase your financial worth.” — (male in his 30s, US)

After last year’s events, more people are paying attention to the market in hopes of capitalizing on a potential economic rebound this year.

“This is a great time to invest, hopefully things can only get better and go up.” (female in her 30s, US)

Low interest rates are also fueling people’s motivation to allocate their wealth into investment assets. We can see a similar trend in Japan.

“Interest is too low for deposits and savings. I think it is better to manage your capital with some risk” — (male in his 40s, Japan).Why are people not looking to invest in financial assets?

There’s an interesting contrast in why people are not looking to invest across the two regions. One of the most popular reasons why people in the US are not planning to invest this year is because of financial challenges created by the COVID-19 crisis.

“I have no job currently, so no income. Can't invest what you don't have” — (male in his 30s, US)“Money is very tight due to the pandemic” — (female in her 30s, US)

Our data shows that, logically, people with lower incomes are 40% less likely to invest. This, amidst the recent surge in COVID-19 cases and changes in power in the US, has elevated people’s uncertainty and fear of what’s going to happen next at the macroeconomic level.

What’s most interesting, however, is that the main reason why Americans do not invest isn’t because of the risks of losing money. They mainly don’t do it because they don’t have the necessary resources. In Japan, it’s a different story.

While the economic impact from the COVID-19 crisis also impacted many people’s ability to invest in Japan, the majority of those who said that they are not looking to invest highlighted the potential risks associated with investing, rather than a lack of resources to do so.

“I don't want to lose even 0.0001% of my money. I don't want to invest in anything that has the risk of losing even a small amount of money. However, if there is a no-risk, high-return investment, I will definitely do it” (male in his 40s in Japan)“I think investment is the same as gambling. I don't want to do dangerous things like losing money.” (Male in his 30s in Japan)“I don't know how to do it, and it seems that there is a high risk of loss.” (female in her 30s in Japan)

There’s a clear difference in the sentiment towards investing between the two regions. We see people in the US being a lot more open to investing and having a bigger desire to diversify their income through investing. In Japan people tend to have a much more cautious stance.

The State of CryptoThe State of Investing & Crypto in different markets

Cryptocurrency adoption is higher in the US than it is in Japan. In the US, 22% of respondents have invested in crypto at some point - over four times higher than Japan.

The State of Investing & Crypto in different markets

Similarly with investing, the sentiment towards cryptocurrencies is a lot stronger in the US than it is in Japan. 76% of the respondents in the US who have heard about cryptocurrencies have a positive perception about cryptocurrencies as an investment, while in Japan it was the complete opposite.

What is driving people’s positive perception about cryptocurrencies?

People like cryptocurrencies in the US and Japan for very similar reasons. One of the most popular ones is the increasing popularity of cryptocurrencies and its remarkable rise in price, which makes it a very attractive investment.

“Cryptos are growing at a fast rate and I feel they will keep growing and be very profitable” (male in his 20s, US)“I saw in the news that the value has increased recently” (male in his 20s in Japan)

But it’s not only its run-up in price that’s getting people’s attention. Many respondents highlighted crypto’s value propositions and believe in its long-term value.

“I feel [cryptocurrencies] put you in control as opposed to big Wall street firms. You can buy/sell 24/7. Some have fixed quantity as opposed to stocks that can always issue new shares etc” (male in his 50s, US)“Cryptocurrency seems to be gaining momentum with the fallout of global and national currency systems.” (female in her 20s, US)

Moreover, in 2020 we saw a wave of institutions coming into the cryptocurrency space, and people in the US noticed. Institutional participation solidified people’s long-term outlook for crypto, and even their perception of it.

“Large institutions have been starting to buy crypto, which could drive up scarcity and therefore the value. That, and after a decade it doesn’t seem like it’s going anywhere anytime soon.” (male in his 20s, US)“I chose positive because I definitely think it has leveled out now. In the beginning it was definitely negative (from what I heard). I think it’s a new way of investing.” (Female in her 20s, US)Why do people have negative perceptions about cryptocurrencies?

While the price of Bitcoin has increased over 250% in the last year, many people are still afraid of its extreme price volatility.

Additionally, after seeing many incidents such as hacks and reports from mass media, many are concerned about the crypto’s security risks and usage today. In Japan, where the vast majority of people have negative perceptions about crypto, these security concerns were paramount and deep-rooted into people’s perceptions.

“There was a virtual currency incident in the news a while ago.” — (male in his 40s, Japan)“There is a possibility of someone stealing it” — (male in his 30s, Japan)

Lastly, as with any new technology, there is a big learning curve.

“I don’t know enough about it to have a positive opinion” — (female in her 30s, US)

Many people do not understand cryptocurrencies well enough in order to make a proper judgment about them, which ultimately affects their perception. As people learn more about cryptocurrencies, we can expect this to change in the future.

Which investment assets do people think will be most attractive in 2021?The State of Investing & Crypto in different markets

54% of respondents think stocks will be an attractive investment in 2021, making it the most popular asset in the US.

Crypto was two times more popular than Gold and also the 4th most popular asset, as 30% of Americans believe it will be an attractive investment opportunity. In Japan, crypto was the 5th most popular asset, as people favored other investment vehicles such as Mutual Funds and FX.

Diving deeper into the different segments, we saw that for investors in the US with the highest level of experience crypto was the third most popular asset. This group highlighted the high growth that cryptocurrencies have experienced lately and believe it will be one of the most profitable investments.

“ETFs are easy and low cost basis, real estate will always produce profits and bitcoin is gaining steam and will continue to in 2021” — (male in his 40s with more than 10 years of investment experience, US)

On the other hand, crypto was the second most popular asset amongst the least experienced investors. Crypto’s run-up in price and increasing adoption spiked the interest of this group, which are looking to capitalize on the latest trends in the market.

Wrapping up

A significant share of Americans are looking to invest this year, as they view it as one of the most effective ways to increase their wealth. The opposite was true in Japan, where investors have a more conservative stance.

Moreover, the adoption of cryptocurrencies in the US has grown significantly over the last year, as we’ve seen an increasing number of American companies allocating capital into this new asset class and expanding their services to cover this revolutionary technology. The market sentiment is currently very positive, especially when compared to the Japanese market.

The outlook for cryptocurrencies this year looks very promising in the US as it continues growing in popularity, especially with the new generation of investors which favored the asset more than anyone else. This could also be a good sign for Europe as education about cryptocurrency and the will to diversify investment portfolios is always increasing.

Despite the bearish sentiment in Japan, it remains as one of the most important markets in the world and with one of the most structured regulatory frameworks globally.

Since 2014, our mission as a global company has been to offer the simplest and most secure way to access cryptocurrencies around the world. We plan to continue focusing on offering the highest level of security to our customers and new products to provide more value.

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Survey methodology

Survey period: January 5, 2021-January 11, 2021Target group: A total of 3,000 consumers (20-59 years old) living in the US and Japanese markets. Japan n = 2,000, USA n = 1,000The data of each market adjusts the composition of gender and age based on the census results so that the trends of consumers in the surveyed countries are correctly reflected.Survey method: WEB questionnaire survey

* When using the survey results of this release, please specify [Survey by bitFlyer USA.].

- bitFlyer Europe
Recurring Buy is now live on our App! Set up regular crypto purchases on bitFlyer
Recurring Buy is now live on our App! Set up regular crypto purchases on bitFlyer

Today, we are launching a new “Recurring Buy” feature, which means our users can now purchase crypto automatically with as little as 10 EUR by a simple set up.

You can use it from our mobile app "bitFlyer wallet", available on both iOS and Android.

The smartest and easiest way to invest in cryptoSimple SetupSchedule a recurring buy in a few stepsAutomatic PurchasesBuy crypto daily, weekly, biweekly or monthlyStart Small or Go BigSet up regular purchases as low as €10 or as high as €10,000

Interested? Download our App and start trading now !

Recurring Buy is now live on our App! Set up regular crypto purchases on bitFlyer Recurring Buy is now live on our App! Set up regular crypto purchases on bitFlyer

Get a chance to win 10 Euro worth of BTC with Recurring Buy!

Available crypto

Recurring buy can be used with all 7 types of cryptocurrencies currently handled on our platform:

Bitcoin (BTC)Ethereum (ETH)Ethereum Classic (ETC)Litecoin (LTC)Bitcoin Cash (BCH)Monacoin (MONA)Lisk (LSK)Purchase frequency

You can select from daily, weekly, biweekly and monthly.

Minimum purchase amount

It can be set from as little as 10 EUR.

Recurring Buy fee

There is no additional fee for Recurring Buy. Click here for details on other fees.

Available devices

The recurring buy feature is available on our mobile app "bitFlyer wallet" (iOS, Android)

* Web version will be supported in the future.

Get Started in MinutesRecurring Buy is now live on our App! Set up regular crypto purchases on bitFlyerRecurring Buy is now live on our App! Set up regular crypto purchases on bitFlyer Recurring Buy is now live on our App! Set up regular crypto purchases on bitFlyer

Important notes :

*Please ensure that there are sufficient funds in your bitFlyer account before the scheduled day of purchase. If there is an insufficient balance, the purchase will not be executed.

*Unless a purchase is not executed, the automatic purchase scheduling will not be cancelled.

*The time for purchase cannot be specified. bitFlyer will decide the time of purchase on the designated date.

*The rate used at the time of purchase will be based on the price on our Buy/Sell service.

*System troubles on the bitFlyer side may cause the purchase not to be executed. In that case, no automatic purchase will be executed until the next scheduled purchase.

- Liam 'Akiba' Wright

Amazon has reportedly agreed to invest up to $4 billion in Anthropic, an artificial intelligence startup, as the e-commerce giant ramps up competition with Microsoft, Meta, Google, and Nvidia in the burgeoning AI sector. According to TechCrunch, the massive investment underscores Amazon’s aggressive expansion into generative AI.

Initially, Amazon will inject $1.25 billion for a minority stake in Anthropic. Like Google’s Bard and Microsoft-backed OpenAI’s ChatGPT, Anthropic has developed its own AI-powered chatbot called Claude 2.

Anthropic was established in 2021 by former researchers from OpenAI after raising $124 million in initial funding. According to reports, the founders were motivated by concerns surrounding the safety and ethics of advanced AI systems. As such, Anthropic aims to develop artificial general intelligence (AGI) with rigorous safety practices.

Claude features a simple conversational interface akin to ChatGPT. However, Claude has a substantially larger context window of over 25,000 words per conversation compared to ChatGPT’s 2,500-word limitation. With an official context capacity of 100,000 tokens, Claude can ingest extensive written information from users for analysis and feedback. This expanded context enables more nuanced conversations grounded in broader background information.

The future of Anthropic.

As TechCrunch reported, Anthropic aims to build an even more advanced “frontier model” tentatively named Claude-Next, which would be 10 times more capable than today’s top AI systems. However, developing this technology over 18 months could require over $1 billion.

The collaboration with Amazon grants Anthropic vital cloud infrastructure and chips to advance its research. Anthropic will utilize Amazon Web Services for critical workloads and to deploy future models.

In return, TechCrunch reported that AWS customers will gain early access to Anthropic’s proprietary capabilities for customizing and fine-tuning models. Amazon’s Bedrock platform will also integrate future Anthropic models to enable generative AI applications.

The multi-billion dollar deal signals Amazon’s intent to aggressively compete in generative AI, an emerging sector dominated by Microsoft, Google, and startups like Anthropic. With cutting-edge research and Amazon’s cloud resources, Anthropic now has tremendous potential to shape the future of AI.

Amazon recently revealed its upcoming ‘Let’s Talk’ feature for its Alexa home assistants, allowing users to interact aurally with an AI model similar to Anthropic’s Claude.

The post Amazon invests $4B in OpenAI alumni Anthropic, launching AI cloud war with Microsoft and Google appeared first on CryptoSlate.

- Liam 'Akiba' Wright

According to an interview with CNBC, Ethereum co-founder Vitalik Buterin believes cryptocurrencies currently provide the greatest utility in emerging economies. While developed nations often view crypto as a speculative investment, Buterin claims its most meaningful use cases exist in lower-income countries.

As CNBC reported, Buterin told them that crypto helps provide developing nations with essential financial services they currently lack, like cross-border payments, savings options, and access to the international economy. The Ethereum co-founder claimed he saw higher adoption and more excitement about crypto when visiting places like Argentina versus tech-savvy cities like San Francisco.

Buterin also acknowledged that centralized actors like exchanges are essential in onboarding users in developing countries. However, he believes the ideal future is one where people can transact peer-to-peer on blockchain networks directly. The programmer stated that blockchains need to become dramatically easier to use and more secure for this vision to become a reality. He cited goals like sub-5 cent transaction fees, minimal failed transactions, and highly secure wallet solutions.

Buterin told CNBC that proper on-chain privacy and anonymity tools are critical. He voiced concerns about the precedent being set by legal actions against developers of privacy protocols like Tornado Cash. Buterin believes proof-of-stake networks like Ethereum post-merge may now be more resistant to government intervention and easier to operate anonymously than proof-of-work chains.

On central bank digital currencies (CBDCs), the Ethereum founder said he was more optimistic 5 years ago. He claimed many CBDC projects have strayed from their original goals like privacy and transparency. Buterin worries these government initiatives may now become surveillance-enabled versions of the existing financial system.

Overall, Buterin remains focused on Ethereum delivering value to regular users through improvements like scalability. He aims for the network to move past its current experimentation stage into one defined by usable applications. Buterin also noted that while he and the Ethereum Foundation played a more prominent role in the past, the ecosystem has grown far more independent and decentralized now. He believes that even if something happened to him or legal action was taken against the foundation, development would continue unimpeded at this point.

Vitalik Buterin continues to be one of crypto’s most influential figures, given his role in the creation of Ethereum. His views provide insight into the industry sectors currently seeing the most adoption and what future trends may emerge. While only time will tell if his vision comes to fruition, Buterin offers an optimistic perspective on cryptocurrency, creating tangible utility where it is needed most globally.

The post Vitalik Buterin sees crypto utility growing in developing world, wary of CBDCs, exchanges appeared first on CryptoSlate.

- Oluwapelumi Adejumo

Decentralized protocol Mixin Kernel reported a loss of approximately $200 million in digital assets due to a security breach at an unnamed cloud services provider. The breach occurred on Sept. 23 and was confirmed in a Sept. 25 post on social media platform X (formerly Twitter).

The network’s team said it had engaged Google and blockchain security experts at SlowMist to investigate the incident. SlowMist confirmed that it was assisting in the investigations in a separate post on X.

In response to the incident, Mixin Kernel temporarily suspended deposit and withdrawal services on its network. These services will resume once all vulnerabilities have been identified and successfully addressed, while asset transfers within the network remain unaffected.

The protocol has yet to determine a course of action regarding the stolen assets, with the final decision contingent on the successful recovery of the funds.

Meanwhile, the protocol said its founder, Feng Xiaodong, would provide further updates about the incident in a public Mandarin livestream at 13:00 HKT.

Community reacts

The breach has sparked significant community interest and concern, as the compromise of a decentralized network’s database raises questions about its security level and “decentralization.”

Prominent blockchain analyst ZachXBT expressed surprise at the scale of the hack, highlighting this as another nine-figure security breach where hackers absconded with all liquid assets.

In response to the breach, Mixin’s native XIN token experienced an 8.1% drop in value over the past 24 hours. Currently trading at $194.98, this represents a substantial decline from its all-time high of $2,095. The token’s future value is uncertain and may further depreciate if the stolen funds are not recovered.

Besides that, data from DeFillama shows that the total value of assets locked on the protocol experienced a sharp decline during the early hours of today. The data aggregator’s dashboard shows Mixin’s TVL fell to $351.9 million from $383.54 million.

The post Mixin network loses $200M in attack of its cloud provider appeared first on CryptoSlate.

- James Van Straten
Risk aversion in markets as Bitcoin futures trading sees a significant decline
Quick Take

Bitcoin futures trading has seen a significant contraction from Jan. 2021 to Sept. 2023, with the total 24-hour USD value of traded futures contracts falling from $90 billion to $18 billion.

This contraction can be attributed to several factors. The first is a decrease in speculative activity. As market participants grow more risk-averse, they may reduce their futures trading in favor of direct holding. A decline in price volatility during this period further indicates a potential shift away from speculative trading towards a more cautious approach.

Additionally, the observed decline may reflect a broader bearish sentiment within the market, potentially driving traders to liquidate their positions and move toward the spot market. The spot market is typically viewed as less risky, which might appeal to traders in a bearish market environment.

This trend aligns with a broader shift in the approach and preferences of traders, moving from risk-oriented futures towards more stable and direct forms of holding.

Futures Volume: (Source: Glassnode)Futures Volume: (Source: Glassnode) Exchange Balance: (Source: Glassnode)Exchange Balance: (Source: Glassnode)

The post Risk aversion in markets as Bitcoin futures trading sees a significant decline appeared first on CryptoSlate.

- Assad Jafri

Financial authorities in South Korea intend to initiate stringent eligibility reviews for major shareholders of cryptocurrency exchanges, mirroring the standards upheld within the banking sector, local media reported on Sept. 22.

The move comes amid increasing legal turmoil involving shareholders of prominent domestic exchanges such as Bithumb and Upbit.

Rule reform

The Financial Intelligence Unit (FIU) under the Financial Services Commission has assembled a task force to reform coin exchange reporting requirements. This revised mandate will be integrated into the coin exchange renewal reporting items for implementation in Oct. 2024. It will serve as a cornerstone for future operations of existing exchanges in the country.

According to the Enforcement Decree of the Specific Financial Information Act, all virtual asset business operators, including exchanges, must file a renewal report every three years post initial report acceptance. This process will recommence in Oct. 2024, beginning with Upbit, which finalized the inaugural report acceptance in Oct. 2021.

The task force will primarily concentrate on scrutinizing major shareholder eligibility, a procedural safeguard allowing the government to periodically assess whether the majority shareholder retains the qualifications requisite to operate a financial enterprise.

The initiative by FIU aims to curb illicit activities by major shareholders who wield significant influence over the coin exchange businesses and to mitigate user damage.

Previously, major shareholders operated in a regulatory grey area, with current legislation under the Special Financial Services Act mandating only exchange representatives and registered executives to report and undergo review when declaring a virtual asset business.

Lawmakers want heightened scrutiny.

According to media reports, the involvement of major shareholders of domestic exchanges in fraudulent and market-manipulative activities has spurred the examination of major shareholders.

The two most prominent cases involve major Bithumb shareholder Jong-hyun Kang, who is embroiled in a primary criminal trial for alleged fraudulent trading, and Dunamu Chairman Song Chi-hyung, the predominant shareholder of Upbit, who is currently facing a Supreme Court trial for purported market manipulation.

Representative Yoon Chang-hyeon of the People Power Party has proposed a legislative amendment to the Special Financial Services Act, advocating for incorporating a review system for major shareholders of virtual asset business operators.

The amendment dictates that virtual asset business operators, including coin exchanges, must report information pertinent to major shareholders, enabling the FIU to examine the company’s primary shareholders’ economic and financial crime history.

The post South Korea to screen major shareholders of crypto exchanges over eligibility concerns appeared first on CryptoSlate.

- Assad Jafri

Coinbase has achieved a significant milestone in its international expansion efforts by registering as a cryptocurrency exchange and custodian wallet provider with the Bank of Spain.

The AML license enables Coinbase to offer its complete range of cryptocurrency services to retail and institutional users in Spain while adhering to the nation’s legal framework.


Coinbase’s success in Spain adds to its growing list of international achievements. Over the past year, the company has obtained Virtual Asset Service Provider (VASP) registrations in countries like Italy, Ireland, and the Netherlands.

It has also received in-principle approval and initiated operations in Singapore, Brazil, and Canada  — illustrating its commitment to regulatory compliance and global expansion.

In Spain, as in other markets, Coinbase is focusing on securing licenses, adapting its services to local needs, forging local partnerships, and strengthening its regional presence.

Spain’s pro-crypto stance

Spain’s growing interest in cryptocurrencies is evident, with 29% of adults considering crypto as the future of finance. Cryptocurrencies have even surpassed traditional bank transfers as the country’s second most popular payment method. A survey by Bitnovo found that 60.7% of Spaniards view cryptocurrencies as a long-term investment, and 35.7% are interested in using them for payments.

Spain’s cryptocurrency ecosystem is thriving, with 178 blockchain-based startups in the financial services sector. According to the survey, demand for blockchain-related skills has exceeded expectations, reflecting the nation’s keen interest in emerging technologies.

The recent adoption of the Markets in Crypto-Assets (MiCA) framework by the European Union further solidifies the regulatory environment for cryptocurrencies in the region. MiCA provides much-needed clarity, demonstrating the EU’s commitment to harnessing the potential of emerging technology while setting a clear example for global regulatory efforts.

Coinbase’s registration with the Bank of Spain positions it to cater to the evolving needs of users in Spain. It aligns with the broader trend of increasing cryptocurrency acceptance and interest.

The post Coinbase secures AML license from the Bank of Spain appeared first on CryptoSlate.

- Monika Ghosh

OpenSea, a prominent NFT marketplace, has issued a warning to a subset of its users, urging them to rotate their application programming interface (API) keys. The warning comes after a security breach involving a third-party vendor potentially left their keys exposed.

The company addressed the situation in an email sent to its customers, stating, “One of our vendors experienced a security incident that may have exposed information about your OpenSea API key.”

As of May 2023, OpenSea held the second-largest share of the non-fungible token (NFT) marketplace, accounting for 36.5% of trading volume. While OpenSea used to be the market leader, it trails behind Blur, which launched nearly a year ago and boasted 56.8% of the market in May 2023.

OpenSea has instructed affected users to promptly cease using their current API keys and replace them with new ones. These existing keys are set to expire on Monday, October 2, according to the email.

While OpenSea assured users that the security breach isn’t expected to have an “immediate effect” on their platform integrations, the company cautioned that unauthorized third-party access could potentially impact users’ allocated rate and usage limits. The company added, “The newly generated API keys will have the same permissions and rate limits as the expiring keys.”

OpenSea has not disclosed the exact number of users affected by the breach or whether any other data besides API keys may be at risk.

This security incident follows a similar breach involving Nansen, an on-chain analytics platform. Nansen disclosed that one of its third-party vendors had been compromised, leading to the exposure of users’ blockchain addresses, password hashes, and email addresses. Approximately 6.8% of Nansen’s user base was affected by the breach.

While OpenSea did not identify the affected vendor by name, Nansen indicated that the vendor is “used by many Fortune 500 companies.”

Notably, this isn’t the first time OpenSea has faced security challenges. Last year, the platform had customers’ email addresses leaked due to an employee’s error while working with its email delivery partner, Such email compromises are often exploited by attackers to execute phishing scams. Additionally, OpenSea’s Discord server was hacked in May 2022, with hackers promoting a fake NFT mint claiming to be in partnership with YouTube.

The post OpenSea’s third-party security breach leaves API users vulnerable appeared first on CryptoSlate.

- Assad Jafri

Upbit, South Korea’s foremost cryptocurrency exchange, suspended all withdrawals and deposits of Aptos’ native token APT after it was besieged by fraudulent activities involving counterfeit APT tokens on Sept. 24.

The interruption of deposit and withdrawal services also affected the deposit return process for the actual APT token and the fraudulent digital asset.

Upbit said it plans to resume deposit and withdrawal services once the wallet maintenance is successfully completed and assured users that returns will be processed sequentially after deposit/withdrawal support is reinstated.

Fraudulent tokens

Upbit discovered that scammers had generated fake APT tokens, which were then mistakenly identified as legitimate by the platform’s system.

Following this, a substantial quantity of these spurious tokens were deposited into multiple user accounts through automated means. More than 100,000 users were unwitting recipients of these tokens, claiming they received $APT without initiating any transactions themselves.

The deposited tokens were not native to the Aptos Network coin but were a scam token known as ClaimAPTGift.

Crisis response

Upon recognizing the crisis, Upbit promptly reached out to users who had sold the fake APT tokens with refund requests, according to user reports.

The unexpected maintenance was carried out without explicit reasoning provided to the public, causing distress among the platform’s user base. There were reports of delays in deposit processing due to network congestion and other technical disruptions.

Upbit conveyed apologies for the inconvenience caused and assured that normal processing would resume once the confirmation process was completed post-inspection.

Despite the swift response, various users took to social media to express their dismay and concern over the incident.

The incident has amplified the concerns regarding the safety and reliability of digital asset exchanges, even those considered as standard-bearers in the industry.

The post South Korea’s Upbit experiences severe disruption due to fake APT tokens appeared first on CryptoSlate.

- Rajagopal Menon

The following is a guest post from Rajagopal Menon, Vice President at WazirX.

India’s crypto ecosystem finally has something to smile about following the conclusion of the G20 summit. The G20, representing the world’s most influential economies, fully endorsed the recommendations from the IMF and FSB as a Synthesis paper.

These guidelines aim to chart a clear path for the policy and regulatory framework for crypto assets and clarify key issues that many governments are concerned about. The paper not just advises against a blanket ban on crypto assets but also emphasizes several key principles to guide regulatory approaches in this rapidly evolving landscape.

Crypto’s influence on traditional monetary systems

A critical aspect addressed by the FSB Synthesis paper is the excessive capital flow volatility caused by crypto assets. To mitigate this risk, the paper recommends clarifying the legal status of crypto assets and ensuring that capital flow management laws comprehensively cover them.

In addition to that, monitoring the impact of crypto assets on the International Monetary System has been addressed. The paper stresses the need for unambiguous tax treatment of crypto assets to prevent evasion and ensure fair contributions to national revenues. The Synthesis Paper also provides detailed recommendations for crypto assets and Global Stablecoins (GSCs) to mitigate potential risks and foster innovation simultaneously. This addresses some of central banks’ and regulators’ concerns about crypto in many countries, including India.

Crypto’s status as a payment instrument

The Synthesis Paper distinguishes between crypto assets and traditional fiat currencies, indicating that this will prevent overlap or sovereignty issues in monetary systems. However, in 2021-22, many multinational organizations adopted crypto as payment. Many of them still continue to accept it for goods and services.

While integrating crypto in traditional payment systems will be tedious, if the ecosystem becomes less volatile, it can be considered in niche B2C/B2B businesses before becoming mainstream. Before that, the utility of the tokens to be used and their underlying assets should be clearly established, and enough liquidity should be ensured so that no stakeholders are at a disadvantage. It is important to note that crypto’s core technology will influence the payment systems in the coming years, globally, directly or indirectly.

Where India individually stands on its stance on crypto

As India’s watershed moment was marked by its collaborative approach with other nations, the country also hinted at formulating its domestic regulations on the same lines.

During the G20 leaders’ summit, the Secretary of India’s Department of Economic Affairs mentioned that India’s stance on crypto would be well-established in the coming months. He highlighted that India would base its decisions on the risk assessment framework developed by G20. India’s G20 presidency prioritized global crypto regulation and welcomed the IMF-FSB Synthesis paper’s recommendations for adopting virtual digital assets. India is actively working on its domestic regulations, which already include anti-money laundering rules and crypto taxation.

Private players look forward to a higher frequency of dialogues between the industry, consumers, and regulators for a holistic approach toward bringing together a regulatory framework in the Goldilocks zone – effective, pragmatic, and thriving. The industry anticipates an improved atmosphere of innovation, support for local talent, and investments in Indian Web3 projects without any local regulatory hindrances.

Way forward for implementing regulations globally

The FSB is expected to actively promote the implementation of the recommendations from its joint Synthesis paper in collaboration with the standard-setting bodies or SSBs. By 2025, the global ecosystem may look forward to a comprehensive review of the status of these recommendations at the jurisdictional level, following which the need for additional guidance or recommendations will be assessed within international standards.

This gives the industry hope for a high level of interaction with SSBs to jointly monitor the implications of how their standards apply to crypto-assets, making necessary revisions to existing recommendations and strategies. Additionally, the pros and cons related to asset-backed stablecoins and their potential impact on financial market infrastructures will be closely monitored, where private stablecoin issuers may look forward to assuming an active role.

Most importantly, the issue of fiat on-ramp is set to improve considerably as there will be measures to introduce a global prudential standard for bank exposures to crypto-assets by 2025. The stakeholders, such as domestic regulators, would expect sufficient assistance in capacity building to ensure fair implementation of all policy recommendations.


Transitioning from the global stage to a more regional focus, India’s evolving stance on crypto assets offers a fascinating case study. The nation’s journey with crypto, marked by regulatory hurdles and policy shifts, has been a roller-coaster. The global leaders will continue to engage in fruitful dialogues about the next course of action in the coming months as the policy implementations unfold under the supervision of the IMF.

The post Op-ed: India’s dalliance with crypto ends in a win-win situation appeared first on CryptoSlate.

- James Van Straten
Generational wealth shift poised to reshape U.S. investment trends and market dynamics
Quick Take

U.S. wealth, as per Federal Reserve data, stands at approximately $140 trillion, a vast treasure trove colored by generational divisions. These differences are thrown into stark relief when one considers that baby boomers oversee approximately $78 trillion in assets, predominantly in equities and real estate. Generation X follows with a respectable $47.8 trillion. However, millennials, tasked with navigating an increasingly complex financial landscape, hold a mere $14 trillion, while the silent generation commands an estimated $18 trillion.

These figures underscore a robust wealth gap between the generations, where the youngest are at a significant disadvantage. However, the gears of time are inexorable and bring with them inevitable change. As baby boomers move into retirement and bequeath their assets to future generations, and millennials step into their prime earning years, shifts in asset valuations are anticipated.

This generational wealth transition could have a profound impact on the financial landscape, leading to potential changes in investment trends and market dynamics. As this wealth cycle evolves, monitoring these shifts is crucial to understanding the future trajectory of the U.S. economy.

US wealth: (Source: Federal Reserve)US wealth: (Source: Federal Reserve)

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- Jordan Lyanchev
Bitcoin (BTC) Dumps to 12-Day Low, Ripple (XRP) Slips Below $0.5 (Market Watch)

After the relatively silent weekend, bitcoin started to lose value hours ago and slumped to a 12-day low at just over $26,000.

Most altcoins are in the red as well today, with XRP and Toncoin dropping by about 3%.

BTC Down to $26K

Bitcoin’s price went on the offensive at the start of the previous week, surging past $27,000 and going all the way up to $27,500 on Tuesday. After a day of trading sideways there, the asset lost most of its momentum and started retracing.

This culminated in a price drop to $26,400 on Thursday, around the same time the US Federal Reserve announced a change to its monetary policy – refusing to hike the interest rates once again.

Nevertheless, bitcoin recovered some ground in the next few days and spent most of the weekend at around $26,600. However, it was rejected when it tried to pump higher, and the subsequent decline pushed it down to $26,000 for the first time since September 13.

As of now, BTC has managed to defend that level, but its market cap has slumped below $510 billion, and its dominance over the alts has dropped to 48.9% on CMC.

BTCUSD. Source: TradingViewBTCUSD. Source: TradingView Alts See Red, Not APT

Most alternative coins are also in the red today. Ethereum, Binance Coin, Dogecoin, Cardano, Solana, Litecoin, and Shiba Inu are with losses of up to or around 1%.

Further declines are evident from Ripple and Toncoin. Both assets have retraced by approximately 3%. As a result, XRP has slipped below $0.5, while TON is at $2.2

Polygon, Bitcoin Cash, LEO, HBAR, XLM, FIL, and CRO are also in the red today.

Aptos is among the few exceptions, having surged by over 6%. Consequently, APT trades close to $5.5.

The total crypto market cap has seen another $10 billion gone in a day and is under $1.050 trillion on CMC now.

Cryptocurrency Market Overview. Source: Quantify CryptoCryptocurrency Market Overview. Source: Quantify Crypto

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- Dimitar Dzhondzhorov
Ripple (XRP) to $1 and Airdrop Details, Silly SHIB Speculation, and More: Bits Recap Sep 25th

The past few days have witnessed additional price predictions regarding Ripple’s native token – XRP. Some analysts envisioned a bull run for the asset, believing it could skyrocket above $1 in the near future. We also asked ChatGPT for its opinion on the matter.

Apart from XRP, Shiba Inu (SHIB) has also been in the spotlight. Shibarium’s Marketing Strategist outlined “the silliest stupid rumor” about the memecoin. 

What Could Push XRP to $1?

While the prolonged crypto winter and the ongoing legal battle between Ripple and the United States Securities and Exchange Commission have taken their toll on XRP’s price, the asset managed to soar to a 16-month high in mid-July of over $0.80.

Back then, the company secured a partial win against the regulator, resulting in overall excitement in the entire industry and a mini bull run for the coin.

However, the war seems far from over, with the SEC formally appealing the court’s decision at the beginning of September. The uncertainty and the fact that Ripple has not obtained a decisive victory have negatively impacted the price of XRP, which currently trades at around $0.49 (CoinGecko data). 

Still, many experts think the watchdog’s request will hit a dead end, triggering a potential rally for the asset. The popular analyst KALEO is among those. 

In addition, we asked the AI-powered language model ChatGPT about the catalysts that could drive XRP’s valuation above the $1 milestone. According to the answer, regulatory developments, the outcome of the Ripple v. the SEC lawsuit, speculation, market sentiment, and adoption, are the most essential factors.

XRP Holders Airdrop Details

Another update surrounding XRP is the airdrop that eligible clients of the Japanese cryptocurrency exchange GMO Coin are about to receive. 

Specifically, the company promised to distribute the yen equivalent of 0.1511 Songbird tokens (SGB) for every 1 XRP held by customers as of December 12, 2020 (the day when the US SEC filed a lawsuit against Ripple, accusing it of breaching securities laws).

Those who wish to take advantage of the offering should send a snapshot of their possession. The handout is expected to reach users by September 29, 2023.

The ‘Stupid Rumor’ Regarding SHIB

Last but not least, we will touch upon Shiba Inu and the recent speculation that certain figures involved with the memecoin and its developments have endorsed it out of financial motives.

Shibarium’s Marketing Strategist – LUCIE – claimed this is “the silliest stupid rumor,” saying SHIB gets mentioned because people have displayed huge interest in it.

They also advised investors to hold at least 10 million SHIB tokens ($73 at current rates) in their wallets “for good luck,” forecasting that the asset’s adoption and growth are about to rise.

The memecoin recently launched a layer-2 scaling solution that could help in its advancement goals. The name of that feature is Shibarium as those who want to learn in detail about it could take a look at out video.

The post Ripple (XRP) to $1 and Airdrop Details, Silly SHIB Speculation, and More: Bits Recap Sep 25th appeared first on CryptoPotato.

- Felix Mollen
Calcium Token Pumps 7,400% After Being Dumped By Shiba Inu Devs, Is WSM the Next Underdog Coin to Explode?

The little-known Calcium (CAL) token has exploded 7,400% after being abandoned by the developers of the world’s second-largest meme coin, Shiba Inu (SHIB).

Traders dissatisfied with SHIB’s unfulfilled promises have turned the dummy token into a serious project, pumping its price and creating real demand.

Meanwhile, the new meme coin Wall Street Memes (WSM) is being touted as the next meme coin that could explode as it gears up for Tier-1 exchange listings this week.

Calcium Token Explodes Despite Developer Warnings

Calcium is a token initially created by the developers of Shiba Inu as a “dummy token” and purely for testing purposes.

CAL was minted by Shiba Inu’s developers solely to renounce the Bone ShibaSwap (BONE) token contract.

Notably, the developers specifically stated that CAL was not intended to be traded – yet this didn’t prevent some opportunistic investors from buying tokens and adding liquidity.

Initially, CAL was only available on the ShibaSwap DEX, yet it is now actively available on other top exchanges, like Uniswap and LBank.

According to CoinMarketCap, CAL racked up over $10 million in daily trading volume in the past 24 hours – a 64% increase from the previous day.

This rise in trader activity has helped push CAL’s price to $0.0517 at the time of writing, which is over 7,400% higher than its Uniswap listing price from September 21.

Traders Unite Behind CAL as Token Takes On Life of Its Own

Data from reveals there are now nearly 4,200 unique wallet addresses holding Calcium, indicating growing interest from the retail trading community.

However, this growing interest isn’t going down well with Shiba Inu’s developers.

SHIB community member Prince of Poverty tweeted a screenshot from Shiba Inu’s official Telegram channel, where Shytoshi Kusama, the lead developer of SHIB, urged those buying CAL to “stop it.”

Shytoshi’s appeal has had the opposite effect, as the attention received by the tweet only fueled more interest in Calcium.

This attention has even led to the #CalciumArmy hashtag becoming popular on Twitter, with hundreds of users supporting CAL and sharing their belief that the token could “moon.”

Ultimately, Calcium’s rapid rise is another example of the power that meme coins and community sentiment can have in the crypto market.

Final Chance to Buy WSM Tokens with 10 Hours Left of Presale Before Tier-1 CEX Listings

As the crypto community witnesses the exponential rise of Calcium, attention is now turning to the new meme coin Wall Street Memes (WSM) as the possible next underdog primed for a price explosion.

Wall Street Memes is based on the popular WallStreetBets subreddit, which made “meme stocks” like GameStop and AMC famous in 2021.

The creators of the Wall Street Memes brand have already tasted success in the digital assets market, thanks to the launch of Wall St Bulls NFTs, which sold out in 32 minutes and raised $2.5 million.

Now, the creators look to translate that success into the crypto space via the launch of WSM – an ERC-20 token currently in presale.

Given that the Wall Street Memes brand already has the support of over one million “degens” worldwide, the WSM presale has received colossal attention, raising over $25 million since launching in May.

However, the presale is now set to end in just 10 hours – meaning prospective investors must act swiftly to snag WSM tokens at the low price of $0.0337.


WSM will be listed on “multiple” top-tier exchanges on September 27, with some Wall Street Memes Telegram community members speculating that major platforms like Binance or Coinbase could be among them.

While no official confirmations have been made public, the anticipation surrounding these potential listings has fueled further interest in WSM – making it a token worth watching in the days ahead.

Visit Wall Street Memes Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

The post Calcium Token Pumps 7,400% After Being Dumped By Shiba Inu Devs, Is WSM the Next Underdog Coin to Explode? appeared first on CryptoPotato.

- Jordan Lyanchev
Mixin Network Faces $200 Million Loss in Attack, XIN Token Plummets 10%

In the latest cyber attack to hit the DeFi space, the Mixin Network’s cloud service provider database was recently compromised.

The exploit has resulted in an estimated loss of assets worth approximately $200 million on the mainnet and, subsequently, the value of Mixin’s Native Token plummeting by almost 10%.

Mixin’s Team Responds Following Attack

Mixin’s team recently took to X, announcing that its Network’s cloud service provider database was compromised in the early hours of Sept. 23 Hong Kong time, leading to a temporary suspension of deposit and withdrawal services on the platform. The company further stated that they are currently working with Google and the blockchain security company SlowMist to investigate the breach.

[Announcement] In the early morning of September 23, 2023 Hong Kong time, the database of Mixin Network’s cloud service provider was attacked by hackers, resulting in the loss of some assets on the mainnet. We have contacted Google and blockchain security company @SlowMist_Team

— Mixin Kernel (@MixinKernel) September 25, 2023

In an attempt to mitigate the damage, the services will only be resumed once all vulnerabilities are confirmed and fixed. Mixin assured its users that transfers would not be affected during this period. The Mixin team also stated that they will announce a solution for handling the lost assets once it has been determined.

Furthermore, Feng Xiaodong, the founder of Mixin, is set to give an explanation during a public Mandarin livestream on Sept. 25, shedding light on the incident.

XIN Token Plummets

The news of the attack immediately impacted the market, causing the price of Mixin’s native token, XIN, to drop by about 10%. According to CoinGecko, XIN is currently trading at $194 at the time of writing. This drop in value follows a weekend high of around $216.

Additionally, the total value locked within the protocol has experienced a decrease of approximately $30 million following the attack. According to DeFiLlama, it now stands at $352 million.

This incident comes in the midst of a broader trend in the crypto space, with SlowMist’s weekly security report revealing seven security incidents in the past week alone, ranging from phishing attacks to rug pulls and DNS hijacking. The report emphasizes the urgent need for comprehensive security strategies for crypto protocols in an environment filled with diverse threats.

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- Chayanika Deka
Google Cloud Expands BigQuery with 11 New Blockchains, Including Ethereum’s Görli Testnet

Google Cloud announced that its BigQuery service expanded its data warehouse capabilities by incorporating a total of 11 blockchain networks.

These newly integrated networks are – Avalanche, Arbitrum, Cronos, Ethereum’s Görli testnet, Fantom, Near, Optimism, Polkadot, Polygon’s mainnet, Polygon’s Mumbai testnet, and Tron.

According to the official announcement, Google Cloud’s decision to include an additional eleven popular blockchains within the BigQuery public datasets stems from a collective demand expressed by blockchain foundations, Web3 analytics firms, partners, developers, and customers. The motivation behind the addition is to provide a more “comprehensive view” across the cryptocurrency landscape and enable the capability to query multiple blockchain networks. This move aims to allow users to address intricate inquiries such as determining the daily minting of NFTs across three specific chains, comparing transaction fees among various chains, and determining the number of active wallets on the leading EVM chains.

“Having a more robust list of chains accessible via BigQuery and new ways to access data will help the Web3 community better answer these questions and others, without the overhead of operating nodes or maintaining an indexer.”

BigQuery is Google’s fully managed, serverless data warehouse that offers the ability to perform scalable analysis on massive amounts of data. It facilitates querying through a SQL dialect and comes equipped with integrated machine learning features. Additionally, Google Cloud also revealed improving the current Bitcoin BigQuery dataset by incorporating Satoshis (sats) / Ordinals to the open-source blockchain-ETL datasets for developers to query. The latest development aligns with the cloud computing service provider’s Web3 ambitions. In April this year, it announced plans to assist Web3 startups and projects to build and scale faster and more securely with a new initiative called ‘Google for Startups Cloud Program.’

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- Wayne Jones
NYU’s CBHR Signals Alarming Privacy Concerns in the Emerging Metaverse

While the advent of Metaverse is seen as a major step in the crypto frontier, a report released by NYU Stem Center for Business and Human Rights (CBHR) warned that these developments could lead to an unprecedented erosion of privacy and a rapid surge in physical aggression.

CBHR’s report recommends adopting solid steps by both the Web3 space and governments to avert a looming security and privacy crisis.

Unprecedented Erosion of Privacy

Metaverse, Extended Reality, or Spatial Computing is the digital iteration of the universe, where everyone can work, learn, and socialize in a 3D-rendered environment. This realm is noticing more developments, bringing a new level of immersion. It’s this immersion that CBHR thinks of as a potential threat to the privacy and safety of users.

Per the report, the Metaverse will use bodily data and spatial surroundings, which can reveal susceptible information about individuals, including their physical and mental states. The report reads;

“The types and volumes of data that XR devices can collect make them several orders of magnitude more invasive than traditional web-tracking and surveillance technologies.”

CBHR believes attackers and advertisers could exploit this information for commercial or political gain, eroding privacy. The report also underlines the potential for harmful behavior in virtual environments, including child abuse and sexual harassment.

The report also noted that using idealized avatars could easily alienate people from their bodies, leading to dissatisfaction with reality.

With several tech giants, including Meta, Apple, Microsoft, Nvidia, and Sony, investing mainly in this space, CBHR stresses an urgency for proactive measures to protect human rights in the 3D immersive web.

Recommendations by the Report

CBHR recommended that the industry adopt several steps to avert a looming privacy and security crisis. One such recommendation is erasing user body-based data not needed for device functionality.

Secondly, CBHR advises the industry to offer more options for users to control their exposure to privacy and safety risks, incorporating privacy and safety best practices and investing in automation tools for proactive moderation in 3D virtual environments.

The report said in part:

“Given the real-time, ephemeral nature of interactions in VR, proactive detection is the only way to catch and address certain dangerous activities like child sexual exploitation and terrorist recruitment before they cause irreparable harm.”

This report further advised governments to develop comprehensive federal privacy legislation while strengthening their authority to oversee digital industries, including the Metaverse.

CBHR also notes that governments should empower federal agencies to research and investigate immersive technologies’ health consequences and environmental impacts. CBHR believes that industry and policymakers must take necessary steps to protect human rights.

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- Chayanika Deka
Polygon Labs Pitches Plan to Streamline Celo’s Move to Ethereum Layer 2 Using CDK

Polygon Labs has suggested that the Celo blockchain community consider utilizing its Chain Development Kit (CDK) to streamline the intended layer-2 migration on the Ethereum network.

The proposal comes after cLabs, the primary development team behind Celo, unveiled an alternative strategy in July to transition its layer-1 into an Ethereum-compatible layer-2 solution by utilizing Optimism’s OP Stack. OP Stack is a similar customizable toolkit that leverages Optimism’s “optimistic” technology.

Move to Ethereum Layer-2 Via Polygon CDK

Polygon Labs’ co-founder Sandeep Nailwal presented a proposal to the Celo community this week recommending that the blockchain ecosystem consider implementing Polygon’s Chain Development Kit, which is a codebase enabling developers to build customized layer-2 chains leveraging zero-knowledge (ZK) technology.

The proposal on the Celo governance forum stated,

“Polygon Labs is excited to welcome Celo home to Ethereum in the chain’s transition from an independent EVM-compatible L1 to an Ethereum L2. As Ethereum devotees obsessed with scaling, we are beyond excited to see Celo expand into an emerging and thriving Ethereum ecosystem and help extend Ethereum blockspace.”

Nailwal explained that this shift would enable Celo to fully leverage the benefits of operating as an Ethereum layer-2 solution while preserving the fundamental traits that initially propelled the chain to success.

The exec further emphasized that the transition represents a significant technical enhancement, “that should come with built-in Ethereum alignment and as-close-as-possible developer experience, without compromising security.”

Polygon CDK

The Polygon CDK toolkit was released in August, designed to allow developers to build blockchain networks with the help of ZK proofs. This open-source codebase offers developers the ability to interconnect chains through a ZK-based bridge, creating a unified ecosystem referred to as the “Value Layer.”

Subsequently, Cosmos-based layer-1 blockchain, Canto, announced migrating to a zero-knowledge layer-2 on Ethereum via Polygin CDK. The platform explained that this transition is in line with its objectives to build a blockchain dedicated to real-world assets(RWA).

Besides Canto, pther projects such as Astar, Gnosis, and IDEX, have already announced plans to build ZK layer-2 solutions utilizing the toolkit.

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- Chayanika Deka
Galaxy Digital Turns to Europe for Crypto Growth Amid Regulatory Struggle

Amid increased regulatory scrutiny in the United States, Europe has become an attractive destination for crypto firms. Galaxy Digital, the crypto venture led by US billionaire Mike Novogratz, is now venturing into the European market for greener pastures.

As part of this expansion, the company has appointed Leon Marshall, formerly an executive at the crypto broker Genesis, as its first Head of Europe. Marshall is tasked with establishing a regional presence based in London.

Galaxy Digital’s European Expansion

Marshall, who joined the investment group in June, explained to the Financial Times that one of the pivotal factors influencing this decision was Europe’s progress in developing legal frameworks for trading digital assets.

Earlier this year, the European Union passed comprehensive crypto regulations – “Markets in Crypto-Assets” (MiCA) – designed to provide industry guidelines and investor protection. Meanwhile, under Prime Minister Rishi Sunak’s leadership, the United Kingdom is also actively competing to position itself as a prominent crypto hub.

In a statement, Marshall said,

“The European market demand that we’re seeing, combined with the regulatory framework established by Mica, is robust. That makes Europe a desirable destination for crypto firms to build and grow. We’ve seen a lot of competitors exit the space and that’s offered a unique opportunity for us.”

Meanwhile, the exec announced plans to onboard staff across Galaxy’s investment banking, asset management, crypto lending, and derivatives businesses.

The New York-based firm had been reporting negative quarterly revenues since late 2021. With the subsequent decline in cryptocurrency prices, Galaxy Digital was forced to reduce its workforce by 20%. Its financial losses were further amplified following the collapse of FTX, as the company had more than $76 million in exposure to the bankrupt exchange.

However, Galaxy Digital turned profitable in the first quarter of 2023, benefiting from improved market conditions. During this period, it reported a net income of $134 million, compared to the net loss of $288 million incurred in the fourth quarter of 2022.

US Crackdown on Crypto

The latest development paints a striking contrast to the regulatory landscape for digital assets in the United States, which has thus far failed to offer clear guidance for the cryptocurrency industry.

Meanwhile, the SEC has continued to pursue aggressive enforcement actions targetting some of the top players, such as Binance and Coinbase.

The financial regulator has received significant backlash, particularly in the aftermath of notable legal setbacks, first against blockchain firm Ripple and, more recently, against digital asset manager Grayscale Investments.

Numerous companies like eToro and Ark Invest have already revealed their European expansion plans. Ripple’s CEO Brad Garlinghouse recently predicted that more crypto firms and businesses will likely do the same, citing “confusing regulations” in the country as a motivating factor.

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- Bridgit Murphy
CGMD Miner Redefines Cloud Mining in the Simplest Way

 Conventional cryptocurrency mining methods have become unsustainable due to high electricity and hardware management costs.

Amid this scenario, CGMD Miner positions itself as a leading cloud mining platform that stands out as a beacon of opportunity for users seeking a seamless entry into the mining arena.

The cutting-edge platform is designed with a mission to make acquiring cryptocurrencies easy and fast for everyone. With CGMD Miner, users can step into the world of crypto mining without the need to purchase and maintain expensive hardware devices or possess technical expertise.


CGMD Miner Unlocks the Power of Cloud Mining

Cloud mining, the cornerstone of CGMD Miner, is a revolutionary mechanism that harnesses rented cloud computing power to mine cryptocurrencies like Bitcoin. It enables individuals to participate in cryptocurrency mining remotely, eliminating the need for complex hardware installations and ongoing maintenance. This approach democratizes mining, making it accessible to every individual worldwide, regardless of their technical knowledge or financial resources.

Beginning the journey as a crypto miner through cloud mining on CGMD Miner is quicker and can be done swiftly in the simplest steps with zero complexities and delay.

Choose CGMD Miner as Cloud Mining Provider

CGMD Miner sets the gold standard in cloud mining. The platform boasts an advanced deployment technology that provides 5% -13% of global cloud mining computing power. They uphold a user-friendly platform that opens the doors to cryptocurrency mining for everyone. By joining CGMD Miner, users become part of a trusted community that empowers them to earn burgeoning income without any strings attached.

CGMD Miner not only streamlines the mining process but also provides a seamless opportunity to generate income. It offers a free Bitcoin mining program, allowing users to earn BTC. Once the user has mined 12 USDT worth of bitcoins, they can transfer them to their account for trading. Any profit they generate is entirely theirs, available for withdrawal to their personal wallet.

Features of CGMD Miner

$10 Bonus: On signing up on CGMD Miner, the user gain a bonus of $10. High Profitability: The platform promises high profitability levels, and users can enjoy daily payouts with no delay. No Service Fees: CGMD Miner cuts the hassle and charges no service or administrative fees for all its users. Diversified Income: Users can earn income from mining more than six different cryptocurrencies on the platform. Lucrative Affiliate Program: By inviting positive referrals to the platform, users could receive one-time fixed bonuses of up to $3,000. Top-notch Security: The platform provides enhanced security with McAfee Security Protection and Cloudflare Security Protection. 24/7 Technical Support: Users can rest assured knowing that CGMD Miner offers 24/7 technical support and a 100% uptime guarantee. Register and Sign Up for an Account

Signing up and completing registration on CGMD Miner is quicker than most would think. All users need to do is simply provide their email address and create an account. Once registered, they can immediately begin their cryptocurrency mining journey.

Purchase a Mining Contract

CGMD Miner offers a range of mining contract options, each with its unique contract period. As another option, users can earn income the day after the purchase, and when their earnings reach $100, they can choose to withdraw to their encrypted wallet or reinvest in additional contracts.

In an era defined by digital intricacies that often deter newcomers from entering into crypto mining, CGMD Miner emerges as an interesting project. It’s not just a platform; it’s the gateway to effortless cloud mining.

About CGMD Miner

CGMD Miner is a groundbreaking cloud mining company that has won the trust of over 385000 users worldwide. Our mission is to provide everyone with access to cloud mining, providing access to cutting-edge technologies and large industrial data centers from any device, anywhere. As a leading cloud mining platform, it contributes 5%-13% of the world’s cloud mining computing power.

With a team of seasoned professionals, including experts from top dotcom companies, there’s a strong focus on R&D and extensive technological expertise. The vision is to expand the business across the entire cryptocurrency industry chain, delivering technological innovations and exceptional services worldwide.


Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

The post CGMD Miner Redefines Cloud Mining in the Simplest Way appeared first on CryptoPotato.

- George Georgiev
Quantstamp’s CEO: Here’s Why ‘Audited By’ for Crypto Security in 2023 is Not Enough (Interview)

Richard Ma, the CEO and founder of Quantstamp, stands at the forefront of the cryptocurrency auditing landscape.

With his firm recognized as one of the leading smart contract auditing entities, Ma’s perspective offers invaluable insights into the evolving challenges and paradigms of crypto safety.

In an interview with CryptoPotato that was held at Token2049 in Singapore, Ma delves deep into the current limitations of smart contract auditing, the varied nature of crypto hacks beyond just smart contracts, and offers a discerning guide on assessing the credibility of security audits.

Richard Ma’s journey in the world of cryptocurrency commenced with a direct and personal brush with its vulnerabilities.

“When I discovered Ethereum… I invested in the DAO (2016). A few weeks later, it got hacked with over $50 million taken. That’s why I launched Quantstamp.”

This unfortunate encounter transformed Ma from an investor to a luminary intent on fortifying the digital finance landscape.

Richard Ma, CEO at Quantstamp Not Enough: The Limits of Smart Contract Auditing

The world of crypto is rapidly expanding, with projects mushrooming every day. Investors and users are constantly on the lookout for projects that not only promise high returns but are also safe. Here is where the ‘audited by’ tag comes into the picture. Projects promote this tag as a badge of safety and assurance. But is it enough?

“Yeah, audits are definitely not enough,” Ma begins, “and just saying ‘audited by’ is also not enough because about a third of all the projects that are audited, they don’t fix some serious issues they have.”

He elaborated on the gap between what the auditors suggest and what the projects choose to implement. It was a striking insight that although auditors could highlight vulnerabilities, the onus to rectify them falls on the projects.

But the concerns don’t end there. “For a lot of projects, they’ll release a lot of things without getting audits and then wait until they have a bunch of updates and then get it audited all at once. And so that time in between audits, that could be risky.” Ma exemplified this by citing Nomad Bridge, among others, where small edits made between audits became the focal point of exploitation.

From MT. Gox: Hacks – Well Beyond Smart Contracts

Ma’s depth of knowledge in crypto was evident as he delved into the multifaceted nature of hacks in the crypto space.

“Many of the biggest hacks in crypto, they’re not smart contract hacks. They’re exchange hacks or thefts from custody providers. One of the earliest big hacks was Mt. Gox, and that was an exchange exploit.”

Further widening the horizon of the conversation, he touched upon the threats that lay outside the realm of smart contract vulnerabilities. “There’s a lot of ways to hack those exchanges, custody providers. And also, people using Metamask often lose their private keys.”

Exploited Despite Being Audited: Determining Audit Credibility

When asked about the credibility of audits, Ma’s insights were keen and thought-provoking.

“The best way to get a feeling for the credibility of the audit is to simply take five of the previous audit reports and read through them.”

A good audit, in Ma’s perspective, is not one that merely points out the common issues but goes into the depth of a project’s design and functionality.

He emphasized the unique circumstances of each project. “For every single project, there are always some design considerations, and there are always some unique circumstances where in the audit report it should be explained.”

Over 700 Audits Completed

Quantstamp’s trajectory under Ma’s leadership highlights the importance of understanding and addressing these challenges head-on. Having performed over 700 audits and serving 600 active customers, Quantstamp is leading the charge to secure the future of digital assets.

“I think it’s important to remember that security is not a one-time thing but a continuous process. We need to evolve, adapt, and be vigilant at all times. At Quantstamp, we’re committed to that vision,” said Richard Ma, hinting at the bigger picture of crypto safety in the coming years.

The post Quantstamp’s CEO: Here’s Why ‘Audited By’ for Crypto Security in 2023 is Not Enough (Interview) appeared first on CryptoPotato.

- Bake
Cake DeFi Is Now Bake: A New Era of Financial Empowerment Begins
Cake DeFi Is Now Bake: A New Era of Financial Empowerment Begins

Today, we announce an exciting new chapter in the history of our business - and we wanted you to be the first to know. Cake DeFi is now Bake. Along with that, Bake will transition to be one of four verticals under Cake Group. We will now be known as Cake Group, and our retail business, including our mobile Apps will be renamed to Bake.

When we first started out 4 years ago, the name Cake DeFi was a great fit. We were a small team with a big vision: to make DeFi accessible to everyone. Since then, we  have rapidly grown and evolved.

Today our business has verticals across not only retail, but also institutional, R&D and venture capital. So the natural evolution is to elevate the name Cake to represent our group - as Cake Group - which we believe better reflects the nature and scale of our operations today.

Cake DeFi Is Now Bake: A New Era of Financial Empowerment BeginsWhy the name change?

Bake is a verb that implies action. It symbolizes our commitment to building and creating new products and services that will help you achieve your financial goals, empowering you to feel confident and in control of your financial destiny.

We are excited about the future of Bake, and the renaming is the catalyst for lots of exciting developments to come.

Beyond getting used to a new name and wordmark, over the coming days, you will notice that our website, mobile app, social media and community channels will all get new names and handles. We will be making these changes progressively, so be extra vigilant during this time to ensure that you are interacting with the real Bake. We’ll do our best to guide you during this transition period.

Much more exciting, however, is the upcoming launch of our new mobile app which we’ve built from the ground up to provide you with an improved user experience and interface to give you more control and transparency over your financial destiny. We’ll release the first version of the new app very soon, and you can anticipate exciting releases over the coming months.

What’s more, supporting our multi-chain ambitions to offer you more services based on the blockchains and projects you love, we’re excited to launch staking services for DOT, the native token of Polkadot in July 2023. And we won’t stop there.

There is so much to look forward to, this is just the beginning for Bake.

Control your financial destiny. Bake it, make it. Love it.

DISCLAIMER: Please note that the information on this blog and in any articles posted on this blog is for general information only and should not be relied upon as financial advice. Cake Pte. Ltd., Cake DeFi, UAB, and its affiliates (the “Cake Group”) are not licensed financial advisers. You may wish to approach your own independent financial advisor before making any decision to buy, sell or hold any product and/or digital assets mentioned in this blog.

Any views, opinions, references, assertions of fact and/or other statements are not necessarily the views held by the Cake Group. The Cake Group disclaims any liability whatsoever that may arise out of or in connection with such statements. Always do your own research before investing in any financial assets and consult a qualified financial advisor if necessary.

- Bake
The Gold Standard For DeFi Transparency: Bake Launches New Transparency Page
The Gold Standard For DeFi Transparency: Bake Launches New Transparency Page

In the rapidly growing field of decentralized finance (DeFi), transparency isn't just a virtue — it's an absolute necessity. This is the fundamental belief that underpins everything we do at Bake.

As a Singapore-based company, we adhere to the clear crypto regulations – one of the strictest ones in the world –  the nation has established. The innovation-friendly culture within the country has allowed us to develop transparency-enhancing practices rarely seen elsewhere in the DeFi space.

Our dedication to transparency is reflected through our fabulous track record and Trustpilot score – the overall measurement of reviewer satisfaction.

The Gold Standard For DeFi Transparency: Bake Launches New Transparency Page

With the launch of our new Transparency Page, we aim to grant the gold standard of transparency to our customers. The page provides a comprehensive view of our operations, uniting all crucial information in one easily accessible space. From detailed asset documentation to real-time Proof of Reserves — everything is openly available and verifiable.

Bake's Transparency Principles

To provide our users with the highest level of trust and visibility, we've designed our new Transparency Page to allow users to easily verify their funds are safely stored with us.

Since our inception in 2019, we have been disclosing the total number of assets we hold on all of our addresses through our on-chain Proof of Assets program. This was long before Proof of Reserves became a common practice in the DeFi space.

Our completely revamped Transparency Page comprises four main segments:

Proof of Reserves: This section provides information about our liabilities (what we owe to the users). We present this data in the form of a Merkle tree — a fundamental concept in blockchain technology. Check out our comprehensive Merkle tree explainer video for more details.Transparency Reports: Here, we provide quarterly reports dating back to Q1 2021. These reports cover various aspects, including financial health, operational efficiency, and team performance. They provide an in-depth insight into our workings, ensuring you are informed about our operations.Proof of Assets: This section delivers a  deep dive into the details of the assets we hold. The proof of assets provides a breakdown of the total assets we manage across our application, including liquidity mining pools, staking, lending, and 'Earn' products.Status Reports: This section keeps you updated on the status of our application. If our app is undergoing maintenance or there is a service disruption, you can quickly find the information here. You can also head to for more detailed insights.Proof of Reserves and Assets

Our Proof of Reserves is the result of our assets minus our liabilities. A good rule of thumb for any financial company, including DeFi platforms, is that their assets should always be a higher number than their liabilities.

When it comes to Proof of Assets, we believe in providing our users with as much detail as possible. For instance, in the liquidity mining pools section, we showcase every pool in which our users are invested, detailing the total liquidity the user base holds.

The Gold Standard For DeFi Transparency: Bake Launches New Transparency Page

This transparency extends to our staking and YieldVault products as well. Each section provides intricate details, offering users clear visibility into their investments.

All Information Is Verifiable

All the information provided on our Transparency Page is verifiable. For instance, if you wish to confirm the authenticity of the assets in the liquidity mining pools, you can do so by clicking on the pool address, which will redirect you to the DeFiScan page.

The Gold Standard For DeFi Transparency: Bake Launches New Transparency Page

The total shares represented match the shares displayed on our platform. Moreover, you can copy this blockchain address and use any other DeFi chain explorer to cross-verify the shares, adding another layer of security.

What Next?

At Bake, transparency is not just a word; it's the way we operate. Our ultimate goal is to ensure that our users feel confident about their investments and the integrity of our platform. We understand that trust is not given; it's earned, and our Transparency Page is a testament to this belief. As we continue to grow and evolve, we remain committed to providing our community with as much information and visibility as possible.

If you are yet to start your DeFi journey or want to move to a more transparent platform, join Bake today and explore our range of innovative financial solutions.


DISCLAIMER: Please note that the information on this blog and in any articles posted on this blog is for general information only and should not be relied upon as financial advice. Cake Pte. Ltd., Cake DeFi, UAB, and its affiliates (the “Cake Group”) are not licensed financial advisers. You may wish to approach your own independent financial advisor before making any decision to buy, sell or hold any product and/or digital assets mentioned in this blog.

Any views, opinions, references, assertions of fact and/or other statements are not necessarily the views held by the Cake Group. The Cake Group disclaims any liability whatsoever that may arise out of or in connection with such statements. Always do your own research before investing in any financial assets and consult a qualified financial advisor if necessary.

- Bake
Harnessing The Power Of DeFi: How To Earn Passive Income with Bake
Harnessing The Power Of DeFi: How To Earn Passive Income with Bake

In the fast-paced world of finance, Decentralized Finance (DeFi) has emerged as a transformative technology that is driving financial democratization. Built on blockchain technology, DeFi operates devoid of intermediaries, opening doors to passive income opportunities that were once inaccessible to most individuals.

In this article, we'll discuss how you can harness DeFi’s potential to generate passive income using Bake — the most secure and transparent DeFi platform on the market.

Understanding DeFi

DeFi is the disruptive innovation  that is now challenging conventional financial norms. It has enabled financial management on a peer-to-peer basis, making intermediaries redundant and facilitating a more efficient, transparent, and accessible financial system.

Harnessing The Power Of DeFi: How To Earn Passive Income with BakeThe Foundation of DeFi

DeFi operates on certain core principles that distinguish it from conventional finance:

Decentralization: DeFi eradicates the need for intermediaries, facilitating peer-to-peer transactions, thus eliminating counterparty risk and fostering trustless interactions.Openness and Transparency: The open-source nature of DeFi platforms allows for full transparency, enhancing trust, facilitating audits, and providing users with an in-depth understanding of the system.Financial Inclusion: DeFi aims to democratize financial services, providing access to those historically excluded from traditional banking systems. It grants global access to financial services regardless of location or socio-economic status.Interoperability: This is key to DeFi, enabling different applications and protocols to interact seamlessly, enhancing their functionality. It allows for the creation of innovative financial products and services by combining various protocols.Harnessing The Power Of DeFi: How To Earn Passive Income with Bake
Technologies Powering DeFi

To appreciate the potential of DeFi, we must delve into the technologies that underpin it:

Blockchain Technology: The backbone of DeFi, this decentralized and immutable ledger records all DeFi transactions that occur on  a network. This ensures transparency, security, and immutability.Smart Contracts: These are self-executing agreements that facilitate trustless transactions, automate complex operations, and circumvent the need for intermediaries.Decentralized Applications (DApps): Built on blockchain networks, DApps offer diverse financial services like lending, borrowing, trading, and more. They are the interface that allows users to interact with DeFi without the need for a deep technical understanding of the underlying processes.Benefits of DeFi

DeFi's allure lies in the numerous benefits it offers over traditional finance. It hands individuals control over their finances, reduces costs, enhances security, and promotes financial inclusion.


Traditional Finance

Financial Control

Places total financial control in the hands of the user.

Requires a financial institution (such as a bank) to manage user assets and make transactions.


Can be accessed by anyone with an internet connection, regardless of location.

Have geographical and economic barriers which limit access for many individuals.


Significantly reduces processing costs by removing intermediaries.

Involves fees for intermediaries, transaction costs, and even hidden charges.

Transparency and Security

The underlying blockchain technology ensures all transactions are transparent, traceable, and secure.

Are not always transparent, and security depends on the institution's integrity.

Innovation and Flexibility

Open-source nature encourages continuous development and innovation.

Innovation is often slower and less dynamic due to strict regulations and resistance to change.

How To Earn Passive Income with DeFi

Bake provides multiple services that allow users to harness the power of DeFi to generate passive income:

Staking: Users can lock their cryptocurrency in a DeFi network to support its operations.. By staking, you contribute to network security and earn passive income in the form of additional tokens.Liquidity Mining: By adding your crypto assets to liquidity pools on Decentralized Exchanges (DEXs), you help facilitate smooth trading by ensuring ample liquidity. In return, you earn a portion of the transaction fees and additional rewards generated on the platform.YieldVault: YieldVault is a tool that allows users to easily generate crypto rewards with just a few clicks.It automates the process of earning negative interest rates on your crypto assets — optimizing returns and mitigating risk.Bake: Your DeFi Partner

Bake embodies the spirit of decentralization. It is on a mission to enable users leverage DeFi to generate passive income. By providing a user-friendly interface and a secure platform, Bake encourages you to dive into DeFi and discover the potential it has to offer.

As DeFi continues to evolve, it brings with it the opportunity for individuals to enhance their financial independence. Bake is committed to empowering its users to maximize  these opportunities by helping them navigate the DeFi landscape with ease and confidence.


DISCLAIMER: Please note that the information on this blog and in any articles posted on this blog is for general information only and should not be relied upon as financial advice. Cake Pte. Ltd., Cake DeFi, UAB, and its affiliates (the “Cake Group”) are not licensed financial advisers. You may wish to approach your own independent financial advisor before making any decision to buy, sell or hold any product and/or digital assets mentioned in this blog.

Any views, opinions, references, assertions of fact and/or other statements are not necessarily the views held by the Cake Group. The Cake Group disclaims any liability whatsoever that may arise out of or in connection with such statements. Always do your own research before investing in any financial assets and consult a qualified financial advisor if necessary.

- Bake
Bake - A User-Friendly Gateway to the World of Decentralized Finance
Bake - A User-Friendly Gateway to the World of Decentralized Finance

In recent years, the financial world has experienced a seismic shift with the advent of decentralized finance (DeFi) - a groundbreaking innovation rooted in blockchain technology. DeFi is not merely about financial transactions anymore; it has transformed the way we perceive financial services and opened up opportunities for everyone to participate in the financial ecosystem. Amidst the sea of platforms that have emerged, one stands out for its user-friendly interface and commitment to democratizing access to DeFi services: Bake.

Understanding DeFi

DeFi is the disruptive innovation  that is now challenging conventional financial norms. It has enabled financial management on a peer-to-peer basis, making intermediaries redundant and facilitating a more efficient, transparent, and accessible financial system.

Bake - A User-Friendly Gateway to the World of Decentralized FinanceThe Foundation of DeFi

DeFi operates on certain core principles that distinguish it from conventional finance:

Decentralization: DeFi eradicates the need for intermediaries, facilitating peer-to-peer transactions, thus eliminating counterparty risk and fostering trustless interactions.Openness and Transparency: The open-source nature of DeFi platforms allows for full transparency, enhancing trust, facilitating audits, and providing users with an in-depth understanding of the system.Financial Inclusion: DeFi aims to democratize financial services, providing access to those historically excluded from traditional banking systems. It grants global access to financial services regardless of location or socio-economic status.Interoperability: This is key to DeFi, enabling different applications and protocols to interact seamlessly, enhancing their functionality. It allows for the creation of innovative financial products and services by combining various protocols.Bake - A User-Friendly Gateway to the World of Decentralized FinanceGetting to Know Bake

Launched in June 2019 by U-Zyn Chua and Julian Hosp, Bake has rapidly grown into one of the world's fastest-growing DeFi platforms. The platform's central vision is to empower users to gain returns from their cryptocurrencies and digital assets.

Bake's success isn't an accident. As one of the most established entities in the space, Bake focuses not just on a top-tier user experience but also on unparalleled trust and transparency. Bake understands that in the burgeoning field of decentralized finance, trust and clarity are paramount for fostering a robust and secure environment. This Singapore-based platform has consistently upheld transparency, providing clear information about customer assets, performance history, and risk management capabilities. This commitment is reflected in its excellent Trustpilot score, a measure of reviewer satisfaction.

Who Can Benefit from Bake?

Bake caters to a diverse audience, from seasoned crypto investors to beginners just dipping their toes into the world of digital finance. The platform eliminates the need for users to navigate through complex interfaces or procedures to access DeFi services.

While Bake primarily appeals to millennials aged between 30 and 40, the platform can be beneficial for anyone with exposure to Bitcoin and other cryptocurrencies. The strength of Bake lies in its accessibility and intuitive user interface. Regardless of your level of familiarity with cryptocurrencies, Bake guarantees a smooth, intuitive experience when accessing decentralized financial products.

Navigating the World of DeFi with Bake

Bake isn't just a platform for generating cash flow from your cryptocurrencies. It offers a range of services that make it a comprehensive solution for managing digital assets for everyone. Here are some of the key services you can utilize on Bake:

Buying Cryptocurrencies: Although there isn't a native Bake coin, the platform has partnered with Transak and BANXA to facilitate the purchase of cryptocurrencies such as Bitcoin, Ether, and DFI. These purchases can be made via credit card or SEPA.Staking, Liquidity Mining, and YieldVault: Bake enables users to engage in Staking and Liquidity Mining. It also offers a unique service, YieldVault, only available on Bake. These features give users multiple options for leveraging their crypto assets and earning returns passively.Access to Decentralized Assets: Bake isn't just a one-stop solution for managing digital assets. It also grants access to a vast array of decentralized assets like dAPPL, dAMZN, or dTSLA.

Bake's achievements in the DeFi landscape have set a high standard for other platforms. It exemplifies how DeFi platforms can help anyone navigating the complex world of decentralized finance with ease and confidence.

Wrapping Up

The rise of DeFi has democratized access to financial services, with platforms like Bake leading the charge. With a focus on accessibility, ease of use, and transparency, Bake is undoubtedly a platform worth considering for anyone eager to step into the world of decentralized finance.

Whether you're a seasoned crypto investor or a novice, Bake offers an intuitive platform to maximize your digital assets' potential. So why wait? Dive in and explore the vast world of DeFi that Bake has to offer. Sign up here now!


DISCLAIMER: Please note that the information on this blog and in any articles posted on this blog is for general information only and should not be relied upon as financial advice. Cake Pte. Ltd., Cake DeFi, UAB, and its affiliates (the “Cake Group”) are not licensed financial advisers. You may wish to approach your own independent financial advisor before making any decision to buy, sell or hold any product and/or digital assets mentioned in this blog.

Any views, opinions, references, assertions of fact and/or other statements are not necessarily the views held by the Cake Group. The Cake Group disclaims any liability whatsoever that may arise out of or in connection with such statements. Always do your own research before investing in any financial assets and consult a qualified financial advisor if necessary.

- Bake
Take Your Crypto Journey to the Next Level. Join cakeELITE.
Take Your Crypto Journey to the Next Level. Join cakeELITE.

Do you want to enjoy more premium benefits and privileges as a Cake DeFi user? If yes, then you’re in luck. Introducing cakeELITE - an exclusive membership plan that helps you unlock special platform features, incentives, bonuses and other amazing perks that regular users can only dream of.

Here’s how it works.

By joining cakeELITE you will…Enjoy a significant boost on your rewards

As a member of cakeELITE, you’ll receive a multiplier on the crypto rewards that you earn from our services. That means more passive income and even greater growth of your cryptocurrency holdings over time.

For example, if you’re already earning $10 worth of crypto rewards per month, you can get a $15 booster on top of that amount by simply joining the cakeELITE monthly membership.

Receive priority support from our team

Do you have any requests or concerns that need immediate attention? Don’t worry. As a member of cakeELITE, you’re assigned with exclusive email and WhatsApp channels that allows you to receive priority support from our customer service team.

Be able to withdraw funds at no extra charge

Get to enjoy your rewards and withdraw your funds from the Cake DeFi platform without having to worry about withdrawal fees. That’s right. As a member of cakeELITE, you’re entitled to free withdrawals from the Cake DeFi platform - making it easy for you to withdraw funds as much as you're allowed under your monthly or yearly membership, without worrying about withdrawal fees.

Be the first to know, use and enjoy special Cake DeFi offerings

With cakeELITE, you not only get to enjoy premium benefits but also exclusive access to new product releases, limited edition swag items and a range of tools and features that aren't available to regular users, giving you an edge in the market.

Discounted swaps (available in Q2 of 2023)

As a cakeELITE member, you're eligible to get a discount on the normal  DEX swap fee which is 0.5%. The exact discounts depend on whether you're a monthly or yearly member:

Monthly: After 3 months, you'll get a discounted swap fee of 0.45%. After 6 months, you'll get a discounted swap fee of 0.4%.Yearly: Get to enjoy a discounted swap fee of 0.35%.Priority withdrawals (available in Q2 of 2023)

We understand the importance of quick access to your crypto assets. As a cakeELITE yearly member, you can enjoy peace of mind with priority withdrawals, allowing you to receive your assets urgently when needed. Please note that this only applies to same-network withdrawals (for example, BTC to Bitcoin network withdrawals).

Here’s your cakeELITE benefits at a glanceTake Your Crypto Journey to the Next Level. Join cakeELITE.
Are you ready to be an ELITE? Join now.

Don't settle for the status quo as a regular Cake DeFi user. Choose to be a member of cakeELITE and enjoy all the exciting benefits it has to offer! To be a member, click here.

If you want to know more about cakeELITE, click here to visit our FAQ page. If you want to join cakeELITE but haven’t signed up for a Cake DeFi account yet, click here.

DISCLAIMER: Please note that the information on this blog and in any articles posted on this blog is for general information only and should not be relied upon as financial advice. Cake Pte. Ltd., Cake DeFi, UAB, and its affiliates (the “Cake Group”) are not licensed financial advisers. You may wish to approach your own independent financial advisor before making any decision to buy, sell or hold any product and/or digital assets mentioned in this blog.

Any views, opinions, references, assertions of fact and/or other statements are not necessarily the views held by the Cake Group. The Cake Group disclaims any liability whatsoever that may arise out of or in connection with such statements. Always do your own research before investing in any financial assets and consult a qualified financial advisor if necessary.

- Bake
Maximize Your Crypto Rewards with Decentralized USD (DUSD)
Maximize Your Crypto Rewards with Decentralized USD (DUSD)

If you’re looking for new opportunities to generate passive income at a highly competitive yield percentage, you’re in luck!

Introducing Decentralized USD (DUSD) - a decentralized asset (or dToken) that is minted on the DeFiChain blockchain and which is also available for Cake DeFi users to use to increase their crypto portfolio using our diverse service range.

Read on to get started with earning DUSD and using it to generate sustainable wealth through our platform.

How to earn DUSD?

The best way to earn DUSD is by using YieldVault. It's an easy-to-use, secure and transparent tool that beginners or intermediate users can leverage to maximize their crypto rewards.

If you haven’t used YieldVault before and want to know more, click here. For information on how DUSD rewards are generated at a highly competitive yield percentage, click here.

How to use YieldVault?

1. YieldVault is only available on the Cake DeFi mobile app. If you want to use YieldVault but haven’t downloaded the mobile app yet, click here.

2. Once you’re logged in the mobile app, go to the main page and select YieldVault

Maximize Your Crypto Rewards with Decentralized USD (DUSD)

3. Select your preferred cryptocurrency (Bitcoin, DeFi, Ether, Tether USD Coin or Euro Coin) and click on “ALLOCATE”.

Maximize Your Crypto Rewards with Decentralized USD (DUSD)

4. To generate rewards at an even more competitive rate, make sure that you choose DUSD as your payout.

Maximize Your Crypto Rewards with Decentralized USD (DUSD)

5. Rewards are generated every 12 hours and are automatically available on your Cake DeFi wallet.

What can you do with your DUSD rewards?Allocate them into our Liquidity Mining service

Further increase your passive income as you generate rewards on two types of cryptocurrencies by allocating your DUSD into our Liquidity Mining service. To do so, simply follow the steps below:

1. Click here to go to our Liquidity Mining service page

2. Select a pair for your DUSD under “Decentralized Assets”. Once selected, click “ADD LIQUIDITY”

Maximize Your Crypto Rewards with Decentralized USD (DUSD)

3. Rewards are generated every 12 hours and are automatically available on your Cake DeFi wallet.

Swap them for DeFiChain (DFI)

Swapping your DUSD for DFI allows you to use other Cake DeFi services such as our Staking service and generate rewards in DFI. To do so, simply follow these steps.

1. Go to your Cake DeFi wallet and select DUSD.

Maximize Your Crypto Rewards with Decentralized USD (DUSD)

2. Select “SWAP”.

3. Select DUSD under the “From” drop down list and DFI under the “To” drop down list.

Maximize Your Crypto Rewards with Decentralized USD (DUSD)

4. Once you receive your DFI on your Cake DeFi wallet, click here to go to our Staking service page.

5. Select DFI and click “STAKE” to generate staking rewards on your DFI. Rewards are generated every 12 hours and are automatically available on your Cake DeFi wallet.

6. You can also withdraw your DFI and trade / sell them through crypto exchanges such as KuCoin.

Swap them for other decentralized assets

To swap your DUSD for other decentralized assets, simply follow these steps:

1. Go to your Cake DeFi wallet and select DUSD.

Maximize Your Crypto Rewards with Decentralized USD (DUSD)

2. Select “SWAP”.

3. Select DUSD under the “From” drop down list and your preferred decentralized asset under the “To” drop down list.

Maximize Your Crypto Rewards with Decentralized USD (DUSD)

4. This option is also available to users of the DeFiChain light wallet.

For more information on how you can maximize your gains by opting to receive rewards in DUSD, check out the video below.

Do you want to boost your DUSD rewards?

Join our new membership plan, cakeELITE, and boost the DUSD rewards that you generate from our YieldVault and Liquidity Mining service (as well as the DFI that you generate from our Staking service) for up to 2.5X.

To join, cakeELITE click here. For more information on cakeELITE, click here.

Maximize Your Crypto Rewards with Decentralized USD (DUSD)

And that’s it! If you want to earn DUSD and generate passive income at a highly competitive yield, but haven’t signed up for a Cake DeFi account yet, click here.

DISCLAIMER: Please note that the information on this blog and in any articles posted on this blog is for general information only and should not be relied upon as financial advice. Cake Pte. Ltd., Cake DeFi, UAB, and its affiliates (the “Cake Group”) are not licensed financial advisers. You may wish to approach your own independent financial advisor before making any decision to buy, sell or hold any product and/or digital assets mentioned in this blog.

Any views, opinions, references, assertions of fact and/or other statements are not necessarily the views held by the Cake Group. The Cake Group disclaims any liability whatsoever that may arise out of or in connection with such statements. Always do your own research before investing in any financial assets and consult a qualified financial advisor if necessary.

- Bake
How To Make Money With ETH (for Beginners)
How To Make Money With ETH (for Beginners)

Ether (ETH), the native cryptocurrency of the Ethereum blockchain, is not only one of the most popular cryptocurrencies available today, but it’s also become increasingly easy to make money with it. So, if you’re just getting started in the world of crypto investing, here are common tips and strategies for making money with ETH.

ETH LendingWhat is ETH lending?

How does lending help you make money with ETH? Well, instead of just storing it away in a crypto wallet (which doesn’t earn you any yields), you can lend it out instead to borrowers who are in need of cryptocurrency financing and generate yields from the interest.

This method works similar to traditional forms of lending. The main difference is that ETH lending is done through decentralized platforms - eliminating the need for a middleman institution like a bank or credit union.

How to start lending ETH?

Getting started with ETH lending is relatively straightforward and doesn’t require much technical knowledge to get going. That said, it’s important to understand how the process works before getting involved. Here are just some basics on how you can begin:

Research different platforms – there are several different decentralized platforms offering ETH loans. Do some research into each one so that you can compare terms and conditions before deciding which one is right for you.Choose your terms & conditions – each platform will offer its own unique set of terms & conditions when it comes to setting up an ETH loan agreement. This may include interest rates, loan amounts & repayment schedules. So, make sure that you know exactly what these are before agreeing to anything.Secure your collateral - before starting any loans, make sure that you have sufficient ETH reserved as collateral just in case something goes wrong during the process (i.e., if someone defaults on their loan). This will help protect your investments if something unexpected happens along the way and ensure that all parties involved are taken care of properly at all times.Monitor your contracts – even though most lending platforms come with built-in safeguards against losses (such as liquidation fees), it’s still important to keep an eye on your contracts throughout the duration of each term in order to minimize any potential losses due to late payments or defaults by other parties involved.Is lending ETH suited for you?

ETH lending is a straightforward way to earn passive income with your ETH holdings. The process is simple: lend your ETH and earn interest payments later on - which is why it is, generally, perceived as suitable for beginners. However, it's essential to review the terms and conditions of your preferred lending platform carefully. By doing so, you can be aware of any potential risks involved and protect yourself and your assets.

ETH Trading What is ETH trading?

Trading is, arguably, the most popular and lucrative way to make money with ETH. It involves buying and selling ETH, and taking advantage of its price fluctuations in the market to make a profit.

How to start trading ETH?

To make money with ETH by means of trading, you first need a platform from which to buy and sell this cryptocurrency. Some of today’s most popular platforms not only provide liquidity but also offer advanced features such as margin trading. That said, you must ensure you use a platform that provides optimum security and transparency.

After setting up an account with your preferred platform, you’ll then need funds in order to buy and sell your preferred amount of ETH. Some cryptocurrency exchanges allow direct deposits via bank transfer while others require you to first purchase other cryptocurrencies before exchanging them for ETH on their platform.

Once your funds are ready, you may choose to start engaging in short-term trades. This approach is more suited for day traders who speculate and take advantage of price movements within a single trading day or scalpers who wish to make frequent small profits from small price movements during the day.

Is trading ETH suited for you?

If you choose to make money with ETH through trading, it is important to be aware that this method can be risky and can result in significant losses. This is due to the fact that the crypto market is extremely volatile and can be very unpredictable at times.. Therefore, trading should only be considered by investors who are willing to assume a high level of financial risk.

ETH Trading What is ETH trading?

Trading is, arguably, the most popular and lucrative way to make money with ETH. It involves buying and selling ETH, and taking advantage of its price fluctuations in the market to make a profit.

How to start trading ETH?

To make money with ETH by means of trading, you first need a platform from which to buy and sell this cryptocurrency. Some of today’s most popular platforms not only provide liquidity but also offer advanced features such as margin trading. That said, you must ensure you use a platform that provides optimum security and transparency.

After setting up an account with your preferred platform, you’ll then need funds in order to buy and sell your preferred amount of ETH. Some cryptocurrency exchanges allow direct deposits via bank transfer while others require you to first purchase other cryptocurrencies before exchanging them for ETH on their platform.

Once your funds are ready, you may choose to start engaging in short-term trades. This approach is more suited for day traders who speculate and take advantage of price movements within a single trading day or scalpers who wish to make frequent small profits from small price movements during the day.

Is trading ETH suited for you?

If you choose to make money with ETH through trading, it is important to be aware that this method can be risky and can result in significant losses. This is due to the fact that the crypto market is extremely volatile and can be very unpredictable at times.. Therefore, trading should only be considered by investors who are willing to assume a high level of financial risk.

ETH StakingWhat is ETH staking?

Staking is the process of locking up an amount of ETH for a specified period of time in order to contribute to the security of the blockchain and earn network rewards. This approach is more suited for long-term investors who wish to make money with ETH by generating passive income rather than smaller profits via trading.  

How to start staking  ETH?

Making money with ETH through staking isn’t always straightforward. The most common options available today are:

Validator – By running an Ethereum node as a validator, you can lock up 32 ETH as collateral and start earning rewards simply by verifying transactions on the blockchain. These rewards vary depending on how much ETH is being transacted across the network.Delegator – If you’re comfortable trusting somebody else with your 32 ETH, then delegating those funds instead could be a viable option. Companies known as ‘staking service providers’ offer double digit yearly return rates which means users don’t need to worry about maintaining or running their own infrastructure while still receiving lucrative rewards for participating in network usage growths!Pooling/Sharding – For those looking for more control over their earnings but less responsibility, pooling/sharding is another viable option. Similar to delegating, poolers lock funds into smart contracts but set different parameters within them (such as gas limits or prices) before getting rewarded based upon success rates when executing transactions.Is staking ETH suited for you?

Staking to make money with ETH can be complex and difficult, even for experienced users. For those who are new to staking, the most common challenge that they encounter is that they lack the necessary skills, knowledge or resources to purchase the appropriate software and reach the required minimum amount of funds. That said, staking is a great choice for those who want to build up their financial wealth in the long run, as opposed to seeking out short-term returns.

Make money with ETH by using our services

Do you want to make money with ETH and generate passive income in an easy, secure and transparent manner? We offer a variety of options to suit different investing approaches, expertise levels, financial situations, and risk tolerances.


What is YieldVault?
YieldVault is an easy-to-use tool that enables users to effortlessly generate crypto rewards with just a few clicks, while also experiencing the benefits of greater transparency. For more information, click here.

Who is YieldVault for?
YieldVault is highly-recommended for beginners or intermediate users.

How to use YieldVault to make money with ETH?

1. YieldVault is only available on the Cake DeFi mobile app. If you want to use YieldVault but haven’t downloaded the mobile app yet, click here.

2. Once you’re logged in the mobile app, go to the main page and select YieldVault

How To Make Money With ETH (for Beginners)

3. Select ETH and click “ALLOCATE”.

How To Make Money With ETH (for Beginners)

4. To generate rewards at an even more competitive rate, you can choose DUSD as your preferred  payout.

How To Make Money With ETH (for Beginners)

Rewards are generated every 12 hours and are automatically available on your Cake DeFi wallet.

For more information about YieldVault, click here.

Liquidity Mining Service

What is liquidity mining?
Liquidity mining rewards users who provide liquidity for decentralized finance projects. To participate, users must allocate a pair of crypto assets (e.g., ETH and DFI) and maintain the predetermined ratio between the two. Rewards usually consist of the same types of crypto pairs allocated by the user.

How to use our Liquidity Mining Service to make money with ETH?

1. Go to our Liquidity mining page. If you prefer using the Cake DeFi mobile app, you may download it here.

2. Choose the ETH-DFI cryptocurrency pair and click “ADD LIQUIDITY”. If you don’t have DFI, note that a portion of your ETH will be converted automatically into DFI.

How To Make Money With ETH (for Beginners)

3. Rewards are generated every 12 hours and are automatically available on your Cake DeFi wallet.

For more information about our Liquidity Mining service, click here.

Do you want to make even more money with ETH?

Join our new membership plan, cakeELITE, and substantially boost the ETH rewards that you generate from our YieldVault, Staking and Liquidity Mining services.

To join, click here. For more information, click here.

How To Make Money With ETH (for Beginners)

And that’s it! For more information about our services, click here. Also, if you want to use our services to make money with ETH but haven’t signed up for a Cake DeFi account yet, click here.

DISCLAIMER: Please note that the information on this blog and in any articles posted on this blog is for general information only and should not be relied upon as financial advice. Cake Pte. Ltd., Cake DeFi, UAB, and its affiliates (the “Cake Group”) are not licensed financial advisers. You may wish to approach your own independent financial advisor before making any decision to buy, sell or hold any product and/or digital assets mentioned in this blog.

Any views, opinions, references, assertions of fact and/or other statements are not necessarily the views held by the Cake Group. The Cake Group disclaims any liability whatsoever that may arise out of or in connection with such statements. Always do your own research before investing in any financial assets and consult a qualified financial advisor if necessary.

- Bake
Join Our Bitcoin Pizza Day Campaign. Win 1-Year Supply of Pizza.
Join Our Bitcoin Pizza Day Campaign. Win 1-Year Supply of Pizza.

Win your chance for a year’s supply of pizza by joining our Bitcoin Pizza Day Campaign and accurately predicting the prices of both Bitcoin (BTC) and DeFiChain (DFI) on 07 June 2023 at 23:55 SGT.

Sounds easy? Here’s how it works.

1. You must be a registered Cake DeFi user with at least a KYC level 1 account. If you want to join but haven’t signed up yet, click here.

2. Click here to enter your price predictions for both BTC (up to 1 decimal place) and DFI (up to 2 decimal places). Examples of valid price predictions are $28,123.5 for BTC and $0.45 for DFI.

3. Promo period is from 08 May 2023 (16:00 SGT) to 29 May 2023 (16:00 SGT). Make sure to submit your price predictions during this period.

4. Winning predictions will be based on the prices displayed at on 07 June 2023 at 23:55 SGT.

5. Winners will be notified by our team two weeks after the end of the campaign period.

What prizes are at stake? Win a share of the $5,500 prize pool in BTC if you accurately predict the price of BTC (up to 1 decimal place).
Win 1 month cakeELITE membership for free if you accurately predict the price of DFI (up to 2 decimal places). Want to know more about Bitcoin Pizza Day?

Bitcoin Pizza Day marks the anniversary of the first ever transaction using BTC. On May 22, 2010, Laszlo Hanyecz - a programmer living in Miami, Florida - famously ordered two pizzas from Papa John's for 10,000 BTC. The momentous event has now become a widely celebrated tradition in the cryptocurrency community, where participants celebrate and honor the revolutionary use case that was born out of one man’s love for pizza.

Since then, the value of each bitcoin has grown exponentially, with its value currently sitting at around $29,000. Had Laszlo kept his 10K BTC instead of spending it on two pizzas, he would have now been able to purchase over $290 million worth of pizza!

Want to know more about cakeELITE?

cakeELITE is an exclusive membership plan that helps you unlock additional bonuses and incentives from Cake DeFi. By joining cakeELITE, you are able to receive a boost of up to 2.5X on the crypto rewards that you generate from our services.

In addition, you’ll receive priority support from our customer service team. This means that you’ll get personalized assistance and swift responses to your queries and concerns. Plus, you're entitled to free withdrawals from the Cake DeFi platform - making it easy for you to withdraw funds as much as you're allowed under your monthly or yearly membership, without worrying about withdrawal fees.

For more information about cakeELITE, click here.

Join Our Bitcoin Pizza Day Campaign. Win 1-Year Supply of Pizza.

So, what are you waiting for? Join now and celebrate Bitcoin Pizza Day like never before!

DISCLAIMER: Please note that the information on this blog and in any articles posted on this blog is for general information only and should not be relied upon as financial advice. Cake Pte. Ltd., Cake DeFi, UAB, and its affiliates (the “Cake Group”) are not licensed financial advisers. You may wish to approach your own independent financial advisor before making any decision to buy, sell or hold any product and/or digital assets mentioned in this blog.

Any views, opinions, references, assertions of fact and/or other statements are not necessarily the views held by the Cake Group. The Cake Group disclaims any liability whatsoever that may arise out of or in connection with such statements. Always do your own research before investing in any financial assets and consult a qualified financial advisor if necessary.

- Bake
Generate Passive Income from Solana (SOL) Staking Rewards
Generate Passive Income from Solana (SOL) Staking Rewards

Although Solana (SOL) offers a variety of passive income opportunities, staking is by far the most popular choice among crypto investors - and there are many good reasons why.

In this article, we’ll take an in-depth look at what Solana (SOL) staking is, how it works and why you should consider getting involved. We’ll also dive into some of the key benefits of staking with Solana and discuss some important facts that every investor should know about generating passive income from Solana staking rewards.

But first, what is staking?

Simply put, staking is the act of committing your cryptocurrencies to support and secure a blockchain network. By doing so, users can receive rewards in the form of the same cryptocurrency they’ve staked. Today, staking has become increasingly popular among crypto investors as it provides an opportunity to generate passive income with their crypto holdings.

For more information about staking, click here.

What are the key advantages of generating Solana staking rewards?

Generating passive income with Solana staking has several advantages over other forms of passive income generation. First and foremost, it’s a relatively low-risk way of earning money. The risk associated with staking is significantly lower than crypto trading or liquidity mining. Additionally, staking provides more flexibility with respect to withdrawing funds anytime without additional penalties or fees. Finally, there’s no need for complex tools or knowledge when getting started in Solana staking. It’s possible to start earning passive income simply by holding SOL tokens in a compatible crypto wallet.

Other benefits to staking with Solana include: Generate passive income through regular Solana staking rewards distributed based on number of stakes held regardless of market conditionsParticipate without needing any coding knowledge while still offering lucrative returns relative industry standardsHave a say in decision-making processes related to changes within the Solana ecosystemHelp maintain the security standards of SolanaCommon ways to generate Solana staking rewardsSet up your own validator node (for advanced users)

If you have the technical know-how and resources to spare, you can set up your own validator node to directly validate transactions on the blockchain. To get more support, you can encourage others to stake their SOL tokens with your node. Alternatively, if you don't have time or access to the necessary tools and system infrastructure, there are a variety of staking pools and services available that let users join existing networks to take advantage of shared services.

To find out more about the requirements that you'll need to meet in order to become a validator, click here.

Stake your SOL to a validator or use a wallet (for intermediate users)

You can also start earning rewards and help secure the network by staking your SOL tokens to one or more validators on Solana's Mainnet Beta. Additionally, any user holding SOL tokens can stake with a wallet that supports staking through

Generate Passive Income from Solana (SOL) Staking RewardsEasily and securely generate Solana staking rewards with our SOL Staking service

If you want to generate Solana staking rewards but have limited resources or technical expertise, don’t worry. With our SOL Staking service, you can easily stake your SOL tokens with just a click of a button and start generating passive income in a secure and transparent manner.

What’s so great about using our SOL Staking service?  APY is consistent - the displayed APY is consistent and tends to be stable. This allows users to generate passive income in a relatively stable manner. APY is competitive - the currently displayed yield percentage (7% APY) can offset inflation. Unstake anytime - users can unstake their allocated funds anytime. There’s no lock up period. Easy-to-use - stake your SOL with just a click of a button. It’s as simple as that. Secure and transparent - users can visit our Transparency Page to check our Proof-Of-Reserves, node addresses, node statuses and other valuable information.How to use our SOL Staking service?  

1. Click here to go to our Staking service page. If you prefer using our Cake DeFi mobile app, click here.

2. Select Solana (SOL) and click ALLOCATE.

3.  Solana staking rewards are generated every 12 hours and are automatically available in your Cake DeFi wallet.

Boost your Solana staking rewards and increase your passive income

Do you want to increase the Solana staking rewards that you generate from our SOL Staking service? Join our new membership plan, cakeELITE, and boost your Solana staking rewards up to 2.5X.

To join cakeELITE, click here. For more information on cakeELITE, click here.

Generate Passive Income from Solana (SOL) Staking Rewards

And that’s it! If you want to generate Solana staking rewards using our SOL Staking service but have not signed up for a Cake DeFi account yet, click here.

DISCLAIMER: Please note that the information on this blog and in any articles posted on this blog is for general information only and should not be relied upon as financial advice. Cake Pte. Ltd., Cake DeFi, UAB, and its affiliates (the “Cake Group”) are not licensed financial advisers. You may wish to approach your own independent financial advisor before making any decision to buy, sell or hold any product and/or digital assets mentioned in this blog.

Any views, opinions, references, assertions of fact and/or other statements are not necessarily the views held by the Cake Group. The Cake Group disclaims any liability whatsoever that may arise out of or in connection with such statements. Always do your own research before investing in any financial assets and consult a qualified financial advisor if necessary.

- Bake
Can You Make Money with Solana (SOL)?
Can You Make Money with Solana (SOL)?

Launched in 2020, the blockchain platform known as SOLANA and its native cryptocurrency SOL offer crypto investors a wide range of new opportunities to make money, create passive income streams and bolster their crypto portfolios. What are these opportunities? Read on to discover some of the most popular ways to make money with Solana today.

SOL trading

When it comes to making money with Solana, the most popular method is trading the cryptocurrency SOL. This is due to the ease and simplicity of the process: buyers can purchase SOL, and then trade it on exchanges for a profit in either fiat currency or another type of cryptocurrency.

How to start trading SOL?

Crypto investors who wish to make money with Solana by means of trading can purchase (or sell) SOL directly with fiat currency on major crypto exchanges such as Binance and Coinbase, though you should always check the official website for the latest list of supported exchanges.

Most exchanges offer basic features like order types, charting tools & market data analysis to help you make informed decisions when trading SOL. However, it’s important to note that each exchange operates differently - which is why it's necessary for you to familiarize yourself with their individual processes before you start trading SOL using any of these platforms.

Is trading SOL suited for you?

As a relatively new cryptocurrency, the price of SOL can be highly volatile - which makes it attractive to traders who are looking to make money with Solana based on short-term profits. However, due to these same market fluctuations, trading can be risky and can lead to substantial losses.

To ensure you understand the risks involved in trading SOL and that you can manage potential financial losses, be sure to do your own research and practice caution when trading this digital asset.

SOL lending

You can also make money with Solana through lending. What is it? It’s a process that allows users to lend their cryptocurrency holdings in exchange for interest payments over a specific period of time. It works by having two parties agree upon an amount of SOL (the crypto being lent), as well as the amount of interest payments due and the duration of the loan. The lender provides the funds while the borrower pays back both the principal amount and any accrued interest.

How to start lending SOL?  

Making money with Solana through lending is as easy as how we described it earlier: you lend it and make a profit from the interest. The higher the interest rate, the more profit you’ll earn.

So, where can you lend your SOL? Some of the most popular platforms for SOL lending are BlockFi and CryptoLend. When choosing a preferred lending platform, make sure that your platform of choice not only offers competitive interest rates but is also secure, transparent and easy-to-use.

Is SOL lending suitable for you?

Making money with Solana through lending is incredibly popular among crypto investors, especially beginners or those who lack the skills and knowledge to try more complex methods like trading. That said, it's important to remember that while SOL lending can yield a high return on investment due to its interest rates, the risk of default is also higher. Make sure you do your research and understand the risks before lending your SOL — as this could result in a significant loss of funds if not handled correctly.

SOL staking

Arguably the most popular method to make money with Solana is by earning rewards from your SOL holdings through staking. This involves locking up your SOL in order to participate in network consensus protocols and to secure the network. In return, you can receive regular rewards based on the amount of SOL that you staked.

How to start staking your SOL?

There are several options for staking SOL If you have technical experience and resources available, you can set up your own validator node to validate transactions on the blockchain directly. You can then bolster your support by getting others to delegate their SOL holdings to you.

To find out more about the requirements that you'll need to meet in order to become a validator, click here.

If you’re an intermediate user, you can start earning rewards and help secure the network by staking your SOL to one or more validators on Solana’s Mainnet Beta. Also, anyone who holds SOL can stake with a stake-supporting wallet via, which can be used with a Ledger Nano or a native SolFlare key file.

Can You Make Money with Solana (SOL)?Make money with SOLANA by using Cake DeFi’s SOL Staking service

We’re excited to announce that we’re set to launch our SOL Staking service before the end of April 2023 to allow users to easily and securely participate in staking with just a click of a button and with no specific amount of SOL required.

Stay tuned for the official announcement and make sure that you sign up for a Cake DeFi account, if you haven’t yet, so you can take advantage of this amazing opportunity.

Can You Make Money with Solana (SOL)?

So, what are you waiting for? Click here to sign up for a Cake DeFi account and take control of your financial destiny!

DISCLAIMER: Please note that the information on this blog and in any articles posted on this blog is for general information only and should not be relied upon as financial advice. Cake Pte. Ltd., Cake DeFi, UAB, and its affiliates (the “Cake Group”) are not licensed financial advisers. You may wish to approach your own independent financial advisor before making any decision to buy, sell or hold any product and/or digital assets mentioned in this blog.

Any views, opinions, references, assertions of fact and/or other statements are not necessarily the views held by the Cake Group. The Cake Group disclaims any liability whatsoever that may arise out of or in connection with such statements. Always do your own research before investing in any financial assets and consult a qualified financial advisor if necessary.

- Bake
Strong Results for Cake DeFi During Crazy, Yet Bullish Q1 2023
Strong Results for Cake DeFi During Crazy, Yet Bullish Q1 2023

Dear Cake Customers, Partners, Team Members and other Readers,

It is my pleasure to unveil our company’s 2023 Q1 transparency report, providing you with valuable insights from a broader perspective. Before delving into the details, allow me to briefly reflect on the crypto market in the previous quarter, which witnessed a series of unanticipated outcomes. We observed three distinct phases that shaped the crypto markets:

January: The Resurgence of the Bull Market and Underperformers' Comeback

In January, the markets experienced a bullish correction as they bounced back from the downturn observed in Q4 2022. This recovery period showcased revitalized investor confidence, laying the groundwork for the months that followed. Interestingly, the industry sectors and assets that underperformed the most in 2022 experienced the strongest rebounds, suggesting a potential change in market sentiment and a renewed interest in previously struggling sectors.

February: The Sideways Shuffle

As February unfolded, the market transitioned into a phase of stagnation, characterized by minimal price fluctuations. This sideways phase offered a brief respite from the price volatility witnessed in the months before and after, with investors carefully monitoring the evolving landscape.

March: Banking Crisis and Crypto Crackdown

During March, the crypto world was shaken by two significant events occurring simultaneously: a banking crisis and a crackdown on major cryptocurrency platforms, such as Coinbase, Kraken, BUSD, Silvergate, USDC, Binance, and Paxos. The confluence of these events led to a massive sell-off in stablecoins, primarily BUSD. This, in turn, sparked a price increase for cryptocurrencies, with bitcoin primarily reaping the benefits as it was perceived as a safeguard against the beleaguered banking sector. This did affect us dramatically, prompting us to adopt an even more cautious approach concerning regulatory compliance.

Strong Results for Cake DeFi During Crazy, Yet Bullish Q1 2023

If I had told you at the beginning of Q1, how wild the events would turn out, I’m not sure you would have predicted that crypto markets would have experienced one of their strongest quarters ever, with bitcoin surging by a staggering 70%. With the bullish sentiment making a comeback in the markets, it comes as no surprise that we as a group did well from a financial standpoint. Yet, it wasn’t merely the favorable circumstances that helped us; we also delivered extremely well on all fronts, as evidenced by our progress on our Q1 OKRs!

Strong Results for Cake DeFi During Crazy, Yet Bullish Q1 2023GROUP level (CDH)

On a GROUP level (CDH), we managed to achieve all our OKRs:

Overall, we generated a strong profit in Q1 2023, marking a remarkable turnaround from the previous quarter’s losses.We remain committed to maintaining our target runway of three to four years if crypto prices were to plummet to zero, or seven to ten years at current prices. How many other companies can boast the same?Our team expanded from 164 members at the beginning of Q1 to 171 members by the end of the quarter. We welcomed 22 new members while also replacing those who underperformed. Our HR team sifted through approximately 5,000 resumes, leading to over 400 job interviews, to achieve this growth.Our target is to have close to 190 team members by the end of Q2, which is in line with our 2023 target of 210. We invite you to explore our current job openings at: decided to restructure the Operations team, integrating it into the Finance team, which yielded significant improvements in Q1. This was one of the most difficult choices I faced in the past quarter, but it has proven to be incredibly rewarding.We adhered to our plan of forgoing team trips or events in Q1, but have now scheduled a company-wide off-site event in Phuket. This enables us to bring together nearly the entire team at a reasonable cost.We have successfully opened our new office in Kuala Lumpur, and once MiCA is ready for Europe, we plan to establish an office there as well, accompanied by lots of local activities.In light of the ongoing crypto crackdown, our Legal, Risk and Compliance team is taking additional measures to ensure all our entities operate legally. They have meticulously reviewed all our T&Cs and the legality of our service offering.Strong Results for Cake DeFi During Crazy, Yet Bullish Q1 2023RETAIL (CDF) arm

On the RETAIL (CDF) side, we performed exceptionally well, particularly on the product front:

In Q1 2023, we paid out approximately 9.3 mil USD in rewards to our users.We added two new coins, MATIC and EUROC, in line with our OKRs and plan to add more in Q2: launch of our on-chain lending service, YieldVault, has gained massive traction, offering transparent yields for Bitcoin, Ethereum and Stablecoins: launched cakeELITE, which was received with great enthusiasm. We intend to further enhance the program significantly in Q2, introducing exciting new benefits: year, the marketing team was part of our weakness. That should be all fixed now going into Q2. In Q1, we brought on senior team members on the content and social media side, and have a new CMO and VP of Content confirmed to start in Q2. Additionally, given the  increased scrutiny of crypto in general, I prefer to err on the side of caution rather than aggressiveness in our user growth right now. This stance may change, but at the moment, I want us to prioritize safety.We are also in the final stages of launching our revamped app, which will provide a solid foundation for a super simple AI-assisted service approach catering to everyday users. This will set us on the path to becoming a one-stop platform for taking control of your financial destiny!In terms of hiring, we have assembled many of the essential team members and will help them settle in during Q2. Nevertheless, we continue to seek a Head of Product, content writers, designers, JS engineers, data engineers and DevOps engineers. Should any of these positions interest you, please visit our jobs page: Strong Results for Cake DeFi During Crazy, Yet Bullish Q1 2023Open-source RESEARCH AND DEVELOPMENT  (OSS) arm

On the open-source RESEARCH AND DEVELOPMENT side (OSS), we have also achieved our OKRs:

On DeFiChain, we have facilitated the launch of on-chain governance and released a roadmap to help with the launch of MetaChain in Q2.We have also released the Quantum Bridge, which connects DeFiChain with Ethereum, and has the potential to connect numerous other blockchains in the near future. The Quantum Bridge will also get a queuing function in Q2.DFI underperformed against BTC in Q1 2023. However, this was primarily due to BTC’s strong performance, as many other altcoins also fell short. In Q2, we plan to explore ways to support the DFI price. We prefer to keep these strategies under wraps, focusing on taking actions rather than discussing our plans publicly.We also have developed something very exciting on top of the Bitcoin blockchain, which will be launched in Q2, either under our own brand or a separate one. This new project will generate substantial network effects for our current products.Similar to our retail side, we are fine-tuning our marketing strategy for the open-source sides, and are currently looking for a Marketing- and Product-Lead. Additionally, we hope to bring on board a developer evangelist, who can work with projects and connect them to our launch pad. As always, we are constantly looking for talented JS and C++ developers on Results for Cake DeFi During Crazy, Yet Bullish Q1 2023ENTERPRISE (CDE) arm

ENTERPRISE (CDE), the latest addition to the Cake Group, has made significant progress in Q1:

Our enterprise custody solution is now ready, and our inaugural clients are ready to go: the addition of Ethereum and ERC20 in Q1, we aim to add UTXO blockchain support in Q2. We are also considering the integration of other highly sought-after blockchains, such as Arbitrum or similar blockchains.Our primary focus, in addition to sales and the provable security system, will be the development of a robust marketing funnel. We are seeking a Marketing Lead to help us achieve our annual OKRs, with the goal of becoming one of the top players in this field by the end of 2023. Strong Results for Cake DeFi During Crazy, Yet Bullish Q1 2023Things to watch in Q2

Naturally, the above-mentioned thoughts and goals for Q2 depend highly on the general crypto market sentiment in Q2. I do see 10 things that we need to watch closely:

Market Correction: After an incredibly strong Q1, we may witness a market correction in Q2, as the factors that drove Q1 prices could reverse.Shapella ETH Unstaking: The scheduled Shapella ETH unstaking event on April 12th has the potential to cause market fluctuations.DCG Loan Due: A $575 million DCG loan is set to be repaid to Genesis in May, which could potentially affect market liquidity.US BTC Sale: The US might sell $1 billion worth of BTC, potentially impacting crypto valuations.Crypto Crackdown: The ongoing battle between Binance and the CFTC could lead to further crackdowns throughout 2023.Economic Crisis: There is the potential for a full-blown economic crisis that could significantly impact financial markets.Real Estate Issues: Real estate problems may arise, contributing to market instability and uncertainty.MiCA Regulation: The expected approval of the MiCA regulation in Europe could introduce new rules for the crypto industry.FED Balance Sheet & Rate Hikes: The Federal Reserve's balance sheet and potential rate hikes could influence market dynamics and investor sentiment.USD Hyperinflation: The risk of USD hyperinflation looms, which would have far-reaching implications for the global economy and financial markets.Strong Results for Cake DeFi During Crazy, Yet Bullish Q1 2023

Once again, our Q2 targets are ambitious, and while we may not accomplish them all—particularly if market sentiment turns bearish—I believe it's better to aim for the moon and land with the stars, than to never reach escape velocity. It is an immense privilege to embark on this journey alongside you, empowering you to take control of your financial future with us. Your trust, support, and patronage mean the world to us. Thank you.


CEO & Co-Founder Cake DeFi

- Bake
How To Make Money With Bitcoin (for Beginners)
How To Make Money With Bitcoin (for Beginners)

Not sure how to make money with bitcoin? No problem. Bitcoin has become an increasingly popular asset over recent years and there are now more ways than ever to make money with it.

In this article, we'll discuss how to get started with using bitcoin as an investment vehicle and give you tips on how to maximize your profits in a simple and easy-to-understand manner. So, grab a cup of your favorite beverage, sit back and let's explore the various ways to make money with bitcoin.

But first, what is bitcoin?

Before you can start to make money with bitcoin, it's essential that you become familiar with its basic definition and purpose. So, what is bitcoin? Bitcoin (or BTC) is a decentralized digital currency that was created in 2009 by an anonymous computer programmer (or group of programmers) under the pseudonym Satoshi Nakamoto. All bitcoin transactions take place directly between users without any intermediaries, be it banks or governments.

How To Make Money With Bitcoin (for Beginners)What are the advantages of bitcoin?

There are many reasons why most crypto investors choose to make money with bitcoin rather than with other cryptocurrencies. Some of the most common reasons are:

Security and Anonymity

One of bitcoin's main strengths lies in its security and anonymity. It employs powerful cryptography which makes it almost impossible for third parties to access user data or interfere with transactions.

Fast Transactions

With traditional payment methods such as bank transfers, transactions can often take days or even weeks to complete due to long processing times. In contrast, Bitcoin offers much faster transaction speeds averaging just 10 minutes per transaction.

Low Transaction Fees

Transaction fees associated with traditional banking institutions can often be costly for users, eating away at their profits over time. On the other hand, Bitcoin charges a low fee per transaction (approximately 0–1% depending on your wallet).


Unlike most traditional currencies that are controlled by a single entity (i.e., governments), bitcoin is decentralized meaning no single person or organization holds control over its value or direction. It is, instead, managed by a vast network of computers around the globe.

What are the disadvantages of bitcoin?

If you choose to make money with bitcoin, it is extremely important to also be aware of its disadvantages or the risks of investing in it. The most common disadvantages of bitcoin are:  


Bitcoin is highly volatile compared to traditional currencies making it much more unpredictable in terms of price movements. This can make it difficult for investors to forecast future returns and increase the risk associated with their investment decisions.

Limited Scalability

The number of transactions that the network can process per second is currently limited due to its design — meaning a backlog occurs when demand is high. This slows down transaction speeds as well as drives up costs due to increased competition for slots on the blockchain.

Excessive Energy Consumption

The proof-of-work consensus algorithm powering cryptocurrencies such as bitcoin requires an excessive amount of energy in order for miners to successfully create new blocks on their respective networks.

Lack Of Regulation

Since bitcoin operates outside of banking regulations, it can be difficult for governments and financial institutions to monitor or understand how transactions are made using cryptocurrencies like bitcoin. This lack of regulation may leave some users feeling uncomfortable as unregulated markets tend to carry higher levels of risk than regulated ones do.

How To Make Money With Bitcoin (for Beginners)Most common ways to make money with bitcoin

There are various ways to make money with bitcoin today. That said, the most popular methods to make money with bitcoin are:


Mining is the process of verifying transactions on the Bitcoin blockchain, which in turn rewards miners with newly minted bitcoins. Mining requires specialized hardware and consumes lots of electricity, but offers rewards higher than many other investment options available today — as long as your equipment remains up-to-date and costs remain manageable.


Trading is another popular method for generating an income using bitcoin. You can buy low, then sell high in order to capitalize on market fluctuations within any given trading window — or even automate your trades by setting predefined parameters which can be executed when certain conditions are met. This approach carries significant risks however, so make sure you’ve done your research first before committing any capital into trading activities.

Buy, Hold and Sell

Buying and holding bitcoin is a popular investment strategy for those who believe in the long-term potential of the asset. By investing in bitcoin when prices are low, you can then hold on to it until the price increases - at which point you can sell or retain it.

This approach differs from short-term investments as there are no fast profits to be made. Rather, you may need to keep them for a while before seeing any return. That said, it’s important to know when the time is right to sell as waiting for too long could lead to missed opportunities or even losses.

How To Make Money With Bitcoin (for Beginners)
How to use Cake DeFi services to make money with bitcoin?

If you want to make money with bitcoin and generate passive income on a secure and transparent platform, consider Cake DeFi. Depending on your investing approach, financial situation, level of expertise or risk tolerance, these are the two Cake DeFi services that we recommend you to use to make money with bitcoin:

YieldVaultWhat is YieldVault?

YieldVault is an easy-to-use tool that enables users to effortlessly generate crypto rewards with just a few clicks, while also experiencing the benefits of greater transparency. For more information, click here.

Who is YieldVault for?

YieldVault is highly-recommended for beginners or intermediate users.

How to use YieldVault to make money with bitcoin?  

Follow these simple steps to generate rewards on your bitcoin at around 5.27% APY.

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YieldVault is only available on the Cake DeFi mobile app. To download the Cake DeFi mobile app, click here. For information on the advantages of using a mobile app, click here.

Liquidity MiningWhat is Liquidity Mining?

Our Liquidity Mining service allows you to generate rewards on two types of cryptocurrencies in an easy, secure and transparent way. For more information, click here.

Who is our Liquidity Mining service for?

Our Liquidity Mining service is highly-recommended for advanced users.

How to use our Liquidity Mining service to make money with bitcoin?  

Follow these simple steps to generate liquidity mining rewards on your bitcoin and Defichain (DFI) at around 11.56% APR.  

1. Click here to go to our Liquidity mining page

2. Choose the BTC-DFI cryptocurrency pair.

How To Make Money With Bitcoin (for Beginners)

3. Click “ADD LIQUIDITY” to allocate your bitcoin. If you don’t have any DFI, don’t worry. A portion of your bitcoin will be automatically converted into DFI and in the required amount.

Do you want to make even more money with bitcoin?

Join our new membership plan, cakeELITE, and boost the bitcoin rewards that you generate from YieldVault up to 2.5X. To join, click here. For more information, click here.

How To Make Money With Bitcoin (for Beginners)

And that’s it! For more information about our services, click here. Also, if you want to use our services to make money with bitcoin but haven’t signed up for a Cake DeFi account yet, click here.

- Bake
The Ethereum Shapella Upgrade Is Coming. Can You Finally Unstake Your ETH?
The Ethereum Shapella Upgrade Is Coming. Can You Finally Unstake Your ETH?

On 28 March 2023, Ethereum core developers announced in a blog post that the highly-anticipated Shapella network upgrade will take place on 12 April 2023 at 22:27:35 UTC. But what exactly is this upgrade? And why should you – an ETH investor or someone who has previously staked their ETH – care about it?

In this article, we'll cover all the basics that you need to know about the Ethereum Shapella upgrade, its implications for both the future of the Ethereum network and for ETH investors like yourself.

But first, what is ETH staking?

Ethereum staking is the process of locking up Ether, the native cryptocurrency of the Ethereum blockchain, in order to receive rewards. It allows users to earn passive income without needing to actively risk their capital by trading or other means. This process is greatly facilitated by smart contracts on Ethereum’s network which enable secure and decentralized interactions between decentralized apps (dapps) and users without the need for an intermediary - allowing for users to maintain full control over their funds at all times.

When the Ethereum blockchain upgrade known as The Merge took place on 15 September 2022, the unstaking of ETH was made temporarily unavailable.

What is the Ethereum Shapella upgrade?The Ethereum Shapella upgrade follows The Merge and enables validators to withdraw their staked ETH from the Beacon Chain back to the execution layer.

Moreover, it combines changes to the execution layer (Shanghai), consensus layer (Capella) and the Engine API - hence, the term "Shapella."

As an ETH investor or holder, is there anything that you need to do?

In short, no. The team at Ethereum simply advises ETH investors to check if there are additional steps required by the exchange, wallet provider or platform that they’re using.

The Ethereum Shapella Upgrade Is Coming. Can You Finally Unstake Your ETH?How will the upgrade affect Cake DeFi users? If you’re a Cake DeFi Staking service user:  No required actions for you to take. Your staked ETH continues to generate rewards of up to 4.6% APY. You may exit stake your ETH or withdraw as csETH. For more information, please check this article: How can I exit ETH Staking?We'll notify you once unstaking of ETH is possible. Note that this is dependent on the network withdrawal queue. If you have Cake-staked ETH (csETH): No required actions for you to take.You may deposit and withdraw csETH as per usual.The Ethereum Shapella Upgrade Is Coming. Can You Finally Unstake Your ETH?Still not sure how the Ethereum Shapella upgrade will affect Cake DeFi users' staked ETH? Refer to this image for more information.All in AllUsers of the Cake DeFi Staking service will still be able to initiate a withdrawal of their ETH regardless of the outcome of the Shapella upgrade on 12 April 2023.

Unlike other platforms, where the time it takes to process unstaking and withdrawal requests is reliant on the network withdrawal queue, we've made it hassle-free and worry-free for our users to unstake and withdraw their ETH.

This is well- aligned with our goal to provide DeFi services that are not only easy-to-use, secure and transparent, but are also the perfect choice for generating passive income on your ETH and other cryptocurrencies.

The Ethereum Shapella Upgrade Is Coming. Can You Finally Unstake Your ETH?

And that’s it. If you want to use our services but haven’t signed up for a Cake DeFi account yet, click here and take control of your financial destiny!

- Bake
A Beginner’s Guide To Crypto Regulations
A Beginner’s Guide To Crypto Regulations

Crypto regulation is an important topic to understand in order to stay compliant with existing laws and keep your crypto investments secure. However, it can be confusing to know where to start.

In this article, we provide a comprehensive guide to the basics of crypto regulations for beginners. We’ll discuss why crypto regulations are essential, showcase some of the most important crypto regulations that are already in place throughout the world, and go over anticipated developments that could happen in 2023 and beyond.

What are crypto regulations? Is crypto regulation necessary?

Crypto regulations are the legal rules, guidelines and restrictions placed on individuals, companies and other entities that deal with cryptocurrencies. Most of these regulations are intended to protect consumers from potential scams or bad investments, as well as to ensure compliance with existing laws. As cryptocurrencies continue to gain popularity, it's important for investors to understand the implications of these regulations on their activities.

What are the regulations on cryptocurrency?

There are several types of crypto regulations that exist today. Depending on the country in which you reside, you may find different levels of regulation regarding cryptocurrencies. Some jurisdictions have more stringent laws than others. In anycase, here’s a breakdown of some of the most common types of crypto regulations:

Anti-Money Laundering (AML) Laws

Anti-money laundering (AML) laws are designed to prevent money laundering by making it difficult for individuals to move money around without being detected. These laws typically require businesses dealing in cryptocurrency to collect personal data from customers when processing transactions – information such as name, address and other contact details – so that the source of funds can be identified if necessary.

Know Your Customer (KYC) Laws

Know your customer (KYC) laws require businesses to verify a customer’s identity before engaging in any business activities with them. Companies must collect personal data about each customer and use it to confirm their identity before engaging in business activities like opening an account or processing a transaction. KYC processes help reduce fraud and ensure companies comply with anti-money laundering regulations by verifying customers’ identities and protecting against money laundering attempts through false identities or impersonations.

Disclosure Requirements

Disclosure requirements demand businesses provide certain information about themselves and their activities when interacting with customers or other parties involved in cryptocurrency transactions. This type of regulation is intended to increase transparency between buyers, sellers, exchanges and other third parties so that all parties involved can make informed decisions about any investments or transactions they enter into related to cryptocurrencies.

Money Service Businesses (MSBs)

Many countries have enacted laws requiring cryptocurrency businesses, such as exchanges and wallet providers, to register with local authorities as Money Service Businesses (MSBs). These rules typically require firms offering services relating to cryptocurrencies comply with basic customer due diligence obligations such as verifying customer identities before onboarding them onto their platform or imposing certain reporting requirements if they receive large sums of money from customers.

Investment Protection Laws

Many countries also have investment protection laws that require registered investors receive certain protections against fraud or loss due mismanagement of funds. These laws may not necessarily apply directly to cryptocurrency traders; however, some jurisdictions have seen fit extend similar consumer protections for digital asset investments as those available for traditional assets such as stocks and bonds.

Taxation Rules

Taxation rules regarding cryptocurrencies vary greatly across different countries. Some countries have very lenient policies, including  crypto havens, while others impose harsh taxes on traders making large profits from buying and selling digital assets. It is important for investors to remain aware current tax rules in their jurisdiction prevent any potential issues down the line when it comes time to file taxes on capital gains made through trading cryptos.

For information on some of the world’s most crypto-friendly countries, click here.

A Beginner’s Guide To Crypto RegulationsWhich organizations or institutions regulate crypto?

There are multiple organizations and institutions that can or are already regulating crypto space today. These groups all play an important role in setting the standards for how cryptocurrencies are legally recognised and used. In general, these groups are categorized as follows:


When it comes to crypto regulations, governments are arguably the most influential players. It's their decisions that ultimately determine how crypto and other digital assets can be used, whether it’s for making payments or participating in Initial Coin Offerings (ICOs). Depending on the country, regulations can vary greatly. For example, some nations recognise cryptocurrencies as legal tender while others completely ban them altogether.

Central Banks

Central banks around the world have also stepped up their oversight of cryptocurrency markets. While not all countries have recognised cryptocurrency as legal currency yet, many central banks are already issuing guidance on topics such as banking regulations and consumer protection rights when dealing with crypto-related activities. Additionally they are monitoring exchanges more closely to detect any possible signs of financial crime or money laundering.

International Organizations

Finally, there are a number of international organizations that seek to standardize cryptocurrency rules across different countries. These include bodies such as FATF (Financial Action Task Force) who provide recommendations to G20 nations on developing effective anti-money laundering policies, the International Organization of Securities Commissions (IOSCO) which works towards safeguarding investor interests and The Basel Committee on Banking Supervision who promote safe banking practices amongst its members.

A Beginner’s Guide To Crypto RegulationsWhat Are the European Regulations on Cryptocurrency?Anti-Money Laundering Laws

One of the main focuses of EU cryptocurrency laws is money laundering prevention. All transactions involving cryptocurrency must comply with anti-money laundering legislation and provide additional information on the source and destination of funds if necessary. This means that exchanges must have stringent know-your-customer (KYC) checks in place to ensure that all customers can be identified and their accounts monitored for suspicious activities. Similarly, all transactions above €10,000 are subject to further checks by financial institutions such as banks.

ECB’s Role

The European Central Bank (ECB) also plays an important role in setting guidelines for crypto-transactions within Europe. The ECB has issued several statements on cryptocurrencies which emphasize that they should not be used as a substitute for traditional currencies, but rather as a complement or investment asset only. Additionally, many countries have implemented specific taxes on crypto-assets including capital gains tax or income tax depending on how they are being used.

Strict KYC Checks

Recent developments such as the 5th Anti Money Laundering Directive introduced stricter rules around cryptocurrency use within Europe; this includes implementing stronger KYC checks for services such as exchanging crypto for traditional currency (or vice versa). These measures aim to make it increasingly more difficult for criminals to launder money using digital assets like Bitcoin or Ethereum.

What Are the Singaporean Regulations on Cryptocurrency?Monetary Authority of Singapore (MAS) Guidelines

The Monetary Authority of Singapore (MAS) has released several guidelines which aim to provide clarity around the buying and selling of digital assets within the country. Under these new regulations, all exchanges operating in Singapore must be licensed either as a major payment institution or a standard payment institution. This means that all crypto-related activities such as trading, exchange or investment services must comply with existing financial regulations and associated fees.

Similarly, if individuals wish to buy or sell digital assets privately using other services such as escrow accounts then they must also abide by MAS’s guidelines.

Taxes on Crypto

In addition to exchange regulation, the MAS has implemented taxes on digital assets held by individuals for investment purposes; capital gains tax will be applicable should any profits be made from trading crypto-assets. It is also important to note that despite having general anti-money laundering legislation in place, Singapore does not have any specific laws surrounding crypto-transactions; investors should be aware of their individual responsibility and duty of care when dealing with digital currencies.

A Beginner’s Guide To Crypto RegulationsCrypto Regulations Around the WorldPwC Global Crypto Regulation Report 2023: What To Expect in 2023 and Beyond?

The PwC Global Crypto Regulation Report 2023 is an in-depth look at the state of crypto regulation around the world. It assesses how governments, central banks and international organizations are setting up frameworks to ensure a secure and compliant future for cryptocurrencies. With more than 40 countries surveyed in the report, it’s an invaluable resource for understanding the current landscape as well as predicting future trends. In summary, the findings of the report indicates that:

Government efforts to regulate crypto will intensify

The report finds that governments continue to take actions to regulate cryptocurrency markets both domestically and internationally - from implementing new legislation to developing innovative ways to tax digital assets. Several countries have recognised digital assets as legal tender while others remain uncertain about their status or are in the process of establishing a comprehensive set of rules.

Central banks’ involvement in crypto regulations to increase

Central banks have also been actively involved when it comes to cryptocurrency regulations. They’re increasingly monitoring exchanges for potential money laundering activities, as well as issuing guidance on topics such as banking regulations and consumer protection rights when dealing with crypto-related activities. This has enabled greater trust in the system and matured the industry significantly - something which will only benefit users over time!

International organizations to play an increasingly important role in crypto regulations

International organizations such as FATF (Financial Action Task Force) and IOSCO (International Organization of Securities Commissions) are playing an increasingly important role when it comes to regulating cryptocurrencies across borders. By providing clear recommendations on anti-money laundering policies, investor protections and safe banking practices, these groups help ensure that there is consistency between different countries.

Cake DeFi strictly adheres to and complies with current crypto regulations

If you’re looking for a DeFi platform that is in strict compliance with current regulations and provides top-notch security, transparency and ease of use, then Cake DeFi is the perfect choice.

Cake DeFi has two main operating arms at the moment -  Cake Pte. Ltd. in Singapore, and Cake DeFi, UAB in Lithuania. In Singapore, we are currently operating under an exemption granted by Singapore's financial regulator, the Monetary Authority of Singapore (MAS). In Lithuania, we are registered and authorized to conduct services such as cryptocurrency exchange, custodial wallets administration and provision.

You may click here for more information on how our users’ assets are protected or here for information on our EU registration.

A Beginner’s Guide To Crypto Regulations

Indeed, with Cake DeFi, you can rest assured that your transactions are secure and compliant with prevailing laws. So, if you want to use a DeFi platform that you can trust, click here to sign up for a Cake DeFi account.

So, what are you waiting for? Sign up now and take control of your financial destiny.

- Bake
Which Cake Defi Service Is Right for You:  Crypto Staking, YieldVault or Liquidity Mining?
Which Cake Defi Service Is Right for You:  Crypto Staking, YieldVault or Liquidity Mining?

Though all Cake DeFi services are tailored to help you generate passive income on your crypto in an easy, secure and transparent manner, it's important to find the right one that fits your financial situation, needs and strategies to maximize the chances of success with your crypto investments.

In this article, we provide clear and easy-to-understand information on our key services: Crypto staking, YieldVault and Liquidity Mining. We also analyze the pros and cons of each service, so you can make an informed decision on which one is best for you.

So, are you ready? Let’s dive in.

But first, what are DeFi services?

DeFi services, or Decentralized Finance services, are a new way to access financial services without reliance on centralized entities such as banks and brokers. These services are powered by blockchain technology and offer users access to financial products such as loans, savings accounts, exchanges, investments, and more - all in a peer-to-peer fashion that is faster and cheaper than centralized systems.

What are the advantages of DeFi services?

There are numerous advantages to DeFi services including increased privacy and anonymity for users, the ability to maintain control over funds at all times, fewer fees and commissions than with traditional banking options, no need for credit checks or bank accounts, automated smart contracts that execute as intended without manual oversight or risk of fraud or error.

DeFi also has potential implications in terms of democratizing access to capital markets and creating greater global economic inclusion. Ultimately DeFi serves as an exciting addition to the existing range of financial services available today by providing people with improved access to wealth creation opportunities.

What are the disadvantages of DeFi services?

One potential disadvantage of DeFi services is the still nascent and evolving state of blockchain technology. Although this innovation has shown tremendous promise, it is still in its early stages and in some instances, may not be a reliable or secure enough system to trust with financial transactions.

Additionally, there are concerns about the levels of decentralization among DeFi projects which could lead to issues related to censorship resistance. There have also been reports of rug pulls and exit scams within foreign trading platforms that offer DeFi services, leaving users with no recourse for recovering lost funds.

Finally, regulatory uncertainty surrounding this type of service model means there may be limited protection for customers from fraud or loss due to third party actions.

For more information on DeFi and DeFi services, click here.

Which Cake Defi Service Is Right for You:  Crypto Staking, YieldVault or Liquidity Mining?Crypto Staking ServiceWhat is crypto staking?

Crypto staking is a process in which crypto holders volunteer to participate in verifying transactions on the blockchain. When you participate, you need to stake your crypto for a specific period of time. In return, you will receive crypto staking rewards based on the type and amount of crypto you have staked during that period.

What are the key advantages of a crypto staking service? Easy-to-use - crypto staking doesn’t require technical knowledge or skills. With just a click of a button, you can participate in crypto staking and start generating rewards on your crypto.
No lock-up period - though staking your crypto for a longer period of time will yield more rewards, you can choose to unstake it at any given moment (except for ETH, which you won’t be able to unstake before the Shanghai upgrade).
Low-cost - you don’t need to commit a huge amount of crypto to participate in crypto staking. In most cases, you can stake for as little as $1 worth of crypto.
Accessibility  - our Crypto Staking service is available for both web and mobile users.
Competitive yields - users of our Crypto Staking service can generate rewards at reasonably competitive yield percentages (i.e., DFI yields are at around 12% APY).
Covered by cakeELITE - you can further boost your Staking rewards if you sign up for cakeELITE membership.  What are the key disadvantages of a crypto staking service? Limited to a specific type of crypto - you can only can only participate in crypto staking if you own Proof-Of-Stake (PoS) cryptocurrencies such as DASH (Dash),  DeFiChain (DFI), Ether (ETH), and Polygon (MATIC).  
May be subject to stricter regulations - in March 2023, the US Securities and Exchange Commission alleged that Coinbase’s crypto staking services constitute unregistered securities. At the same time, the New York Attorney General’s office listed Ether (ETH) among several cryptocurrencies listed on Kucoin that the regulator viewed as securities. That said, how these developments will affect crypto staking service providers worldwide is currently unknown.

For more information about our Crypto Staking service and how to start using it, click here.

YieldVaultWhat is YieldVault?

Simply put, YieldVault is a tool that allows users to easily generate crypto rewards with just a few clicks, while also enjoying the added-value of transparency.

What are the key advantages of YieldVault? Ease-Of-Use - YieldVault simplifies the process of earning negative interest rates on DeFiChain. Rather than spending time to understand the complexities involved in the process or taking on the risk of making mistakes and losing funds, you simply need to allocate funds into YieldVault, sit back, relax and enjoy the rewards generated.
Transparency - all YieldVault transactions happen directly on the blockchain. This means that you can always verify what's happening with your investments, and that the rewards can be tracked and verified on-chain through the wallet address given on our Transparency Page.
Generate rewards on popular crypto - You may choose to receive the same type of cryptocurrency that you've allocated as your preferred payout (e.g., if you allocated BTC, you will receive rewards in BTC). However, to maximize your gains and generate competitive crypto rewards, you should choose Decentralized USD (DUSD) as your preferred rewards payout.
No lock-up period - though allocating your crypto into YieldVault for a longer period of time will yield more rewards, you can choose to withdraw it at any given moment.
Low-cost - you don’t need to allocate a huge amount of crypto into YieldVault. In most cases, you can allocate for as little as $1 worth of crypto.
Covered by cakeELITE - you can further boost your Yieldvault rewards if you sign up for cakeELITE membership.  What’s the key disadvantage of YieldVault? Available on mobile - YieldVault is only available on the Cake DeFi mobile app.  
Reasonably competitive yields - although YieldVault offers reasonably competitive yields, they are relatively low as compared to the yields generated from our Crypto Staking and Liquidity Mining services.

For more information about YieldVault and how to start using it, click here.

Liquidity Mining ServiceWhat is liquidity mining?

Simply put, liquidity mining is an innovative way to reward users that have allocated a pair of crypto assets in order to provide liquidity for decentralized finance (DeFi) projects. This pair consists of two different cryptocurrencies, such as Bitcoin and DFI (e.g., 1 BTC = 1,000 DFI). As such, it is important to maintain the predetermined ratio between these two currencies in order to maximize the rewards given. The rewards typically consist of the same type of crypto pairs that were initially allocated by the user.

What are the key advantages of liquidity mining? Highly competitive yields - users of our Liquidity Mining service can generate rewards based on highly competitive yield percentages (e.g., EUROC - DUSD is at around 21.51% APR).
Generate rewards on two types of crypto - liquidity mining rewards are based on the crypto pair that you allocate.
Ease-of-use  - though liquidity mining can be a complex and expensive endeavor, our Liquidity Mining service allows you to participate without having technical skills and knowledge, and without having to own a huge amount of funds.
Accessibility  - our Liquidity Mining service is available for both web and mobile users.
Covered by cakeELITE - you can further boost your Liquidity Mining rewards if you sign up for cakeELITE membership.  What are the key disadvantages of liquidity mining? Market volatility - since DeFi tokens tend to be more volatile than other assets, there's more risk for sharp swings in prices which could lead to losses for liquidity miners who have staked their funds for long periods of time.
Impermanent loss - this occurs when a user provides capital at one price and then withdraws at a lower price.
Crypto pairs are required - to participate in liquidity mining, you must allocate a pair of cryptocurrencies or must be willing to convert a portion of your crypto into another type of crypto to make a liquidity mining pair.  
Ratio must be met and maintained - there are specific ratios to be met and maintained for each liquidity mining pair.  

For more information about our Liquidity Mining service and how to start using it, click here.

Which Cake Defi Service Is Right for You:  Crypto Staking, YieldVault or Liquidity Mining?A SWOT Analysis on Cake DeFi's Crypto Staking, YieldVault and Liquidity Mining services.So, which Cake DeFi service is right for you? Our Crypto Staking service is perfect for you if: You’re a novice or a mid-level crypto investor.You have limited funds.You own a PoS cryptocurrency.You can take on the risk of crypto staking services being subject to stricter regulations. Our YieldVault service is perfect for you if: You’re a novice crypto investor.You have limited funds.You want to generate passive income on Bitcoin and other popular cryptocurrencies.You put more importance on ease-of-use than high yields.You are risk averse.Our Liquidity Mining service is perfect for you if: You’re an advanced crypto investor.You have enough funds to meet the required ratio of liquidity mining pairs.You own more than one type of crypto / don’t mind swapping a portion of your crypto into a different type of crypto to make a liquidity mining pair.You have high risk tolerance.

Still not sure which Cake DeFi service is the best fit for you? Check out the explainer video featuring our CEO and Co-Founder, Julian Hosp, below.

And that’s it! We hope that by giving you simple explanations and non-technical descriptions of our Crypto Staking, YieldVault and Liquidity Mining services, you will be able to determine which service works for you best.

Also, if you want to use our services but have not signed up for a Cake DeFi account yet, click here to start generating passive income on your favorite crypto.

Which Cake Defi Service Is Right for You:  Crypto Staking, YieldVault or Liquidity Mining?

So, what are you waiting for? Sign up now and take control of your financial destiny!

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- Harsh Agrawal
How To Choose Right Crypto Exchange For You?- Guide

Are you wondering how to choose the right crypto exchange for you? 

Well, you’re not alone. Choosing the perfect crypto exchange is like finding the right key to a treasure chest – it can unlock incredible opportunities, but it’s no one-size-fits-all solution. 

Now, here’s the kicker: There’s more to it than meets the eye. It’s not just about signing up and trading; it’s about making savvy decisions that can make or break your crypto journey. 

Imagine this: the lower your trading fees, the better your chances of growing your crypto wealth. That’s just the tip of the iceberg. In this guide, we’re about to help you understand how to choose the right crypto exchange, how to avoid pitfalls, and many interesting bit that you would not know if you miss out on reading this guide.

From understanding jurisdiction complexities to maximizing your VIP status and even tackling liquidity challenges, this guide is your compass through the crypto wilderness.

This guide on selecting the right crypto exchange for you will help to understand all the factors needed when selecting a crypto exchange.

12 Things to Consider When Choosing a Crypto Exchange 1. Jurisdiction Friendly Exchange:

One of the biggest factors when selecting a crypto exchange for any user should be their jurisdiction. These days, all the crypto exchanges ask you to go through a process called KYC where you share your personal details like passport or government ID. This is to ensure that the person using the crypto exchange is legit.

A crypto exchange that supports your local jurisdiction will help you in the following ways:

Support for your local currency (ex: GBP, AUD, INR) Often regulated or under the supervision of your country’s financial institute Get customer support in the local language or telephonic support

To be honest, local crypto exchange is not a norm in the world of cryptocurrency. A crypto users (beginner or advanced) usually prefer an exchange that offers maximum liquidity, trust, low fees, and security, as all these features add up to give an outstanding investing or trading experience. 

However, I would suggest you work with a crypto exchange that offers direct or indirect integration with your crypto taxation tool so that you are compliant with your local laws. 

Often users from certain countries use crypto exchanges thinking it would be okay to use a foreign established exchanges without declaring the same in their tax-resident country. In our opinion, this is a big mistake, especially if you are someone who is planning to make six to seven figures income from crypto investment or trading. Choosing a crypto exchange that is friendly to your jurisdiction will help you avoid future headaches.

At this moment, a few no-KYC exchanges do exist, but lately, we have seen that many exchanges like Bybit, KuCoin, or Bitget which used to be either no-KYC or reluctant to KYC norms, have made this process compulsory.

2. Ease of Use:

Based on our current understanding of cryptocurrencies, you should pick the exchange that caters to your needs. For example, if you are an investor looking to buy and hold, you can use an exchange that offers a simple interface. A newbie-friendly exchange is what you need. 

Similarly, if you are a trader or an advanced user, you should use an exchange that offers advanced tools for trading, such as Binance, Bybit, and Phemex which will help you make more money as you hone your trading skills and strategies.

Some of the above-mentioned exchanges do offer advanced tools like trailing stop loss, derivatives trading, and bot trading to name a few.

3. Compare The Trading fees:

Crypto exchanges make the maximum money when you trade or invest with them. Some exchanges offer zero-fee trading, while others take up to 0.4% of your trading amount as fees. These fees add up over time and put a huge dent in your wealth-building process.

Usually, exchanges with zero fees are good to have, but many of them are not ideal for long-term holds, and in the past, we have seen many such exchanges like Hoo(dot)com and others shut down.

In my experience, it’s best to find an exchange that offers low fees, a high-quality trading experience, and at the same time, is trusted.

A lot of exchanges like Binance and Bybit have a feature called VIP levels, which are awarded based on your trading volume, the value of assets you have on the exchange, and so on. The higher your VIP level is, the lower your trading fees will be. So it’s often better to use no more than one or two exchanges at a time to improve your VIP level and lower your trading fees.

Fees of some major global exchanges: – 0.01 to 0.1% – 0.005% to 0.1% – 0.00% to 0.1%

Fees of major US exchanges: 

Kraken – 0.00% to 0.26% Bitstamp – 0.00% to 0.4% – 0.00% to 0.25% –  0.00% – 0.40%

⭐Note 1: The fees for simple swap (which investors need) and the fees for trading (Traders) is often different.

⭐Note 2: The 0.0% fee above is usually for maker fees. 

4. Number of Tradable Coins: 

When you are starting out your journey as an investor or crypto trader, you may be looking at the top 20 cryptocurrencies like BTC, ETH, SOL, and so on. However, as you march ahead, you will realise that there are often more possibilities of making money with altcoins. 

This is why you need a crypto exchange that not only supports all good altcoin projects but also who are proactive in adding new hot projects. 

Often tier-2 exchanges like MEXC, and Phemex are more proactive than top-tier exchanges to add new projects. 

5. 3rd Party Integration:

One of the sweet aspects of the cryptocurrency market is it runs 24/7, and to make the most out of these amazing features of the cryptocurrency market, you will need crypto trading bots, trading terminals, and similar trading tools. Now, if you are simply a beginner, you don’t need to worry about this particular factor, but as you move ahead, you would want to pick the one that works with all popular trading tools. Most of the best crypto exchanges do work with popular trading tools like Bitsgap, Cornix, or 3Commas, to name a few.

6. High-Liquidity:

If you plan to trade spot or derivative markets, you would want to pick an exchange with higher liquidity. Working with a crypto exchange that has low liquidity might cause you substantial losses, as the slippage would be high. Especially if you are into derivative trading, exchanges with low liquidity could cause your stop loss to be taken out quickly, and thus, you will be out of your trade-in time and often at a loss.

Here are the top spot and derivative exchanges based on the volume.

Top 3 Derivatives Exchange based on trading volumeBinance (Futures)Bybit (Futures)OKX (Futures)Data sourced from CoinGecko

Note: If you are trading small caps, you may not find them being listed on many exchanges, and take the help of something like Coinmarketcap or CoinGecko to check the liquidity of these tokens on various exchanges.

We are also building a tool on CoinSutra, which will help you check everything here.

7. Top Notch Security Like Fort Knox:

It is well-known that cryptocurrency is still highly unregulated, and this often causes a lot of new exchanges to sprout, and they do marketing of their exchanges on Instagram, Facebook, and Twitter X to get new users. These unsuspecting users do not really care for security because of marketing lures such as welcome bonuses, and free bitcoins, which often cost them their entire savings.

While no exchange is 100% safe or secure from hacking, however, you should prefer exchanges that have a proven track record, have backup funds, have audited code, and have maximum user satisfaction.

8. Instant and Friendly Customer Support:

When dealing with finance and crypto, the need for customer support is often urgent at an emergency. Some of the most common reasons why you would need customer support on an exchange are:

Account locked due to a hacking attempt. Account hacked. Sent crypto to the wrong blockchain. Sent crypto to the wrong address. KYC-related issues.

Having live chat support will help you resolve these issues in real time; else, the stress and panic of losing funds could cost you many days or hours if you are dealing with an exchange that does not offer excellent support.

Food for thought is: that not all best crypto exchanges have the same quality of support. Only a few of them work like Amazon, where they go above and beyond to resolve the user’s query in real-time.

Some of the most common ways you can get customer support from an exchange are:

Live chat Telegram Ticketing

I have had a great experience with Binance and KuCoin when it comes to outstanding and instant customer support. Even though I advocate Bybit a lot, but I often found their support to be a little slower in comparison with Binance or KuCoin. At the same time, Phemex seems to be doing reasonably good when it comes to customer support.

9. Leverage and Advanced Features:

If you are a derivative trader, you might want to pay special attention to how much leverage a particular exchange offers. At the same time, combine it with the tips I have shared above, such as liquidity and fees, to find an exchange that fits your requirements.

Also, you should pick an exchange that offers products that you are interested in, such as perpetual futures trading, options markets, and so on.

Here are the top derivative exchanges with allowed leverage and available products.

10. Deposit and Withdrawal Methods:

There are exchanges that let you add funds using your bank account, and then there are exchanges that allow you to add only cryptocurrencies like BTC or USDT. When it comes to fiat deposit, you have multiple options such as bank transfer, SEPA, Add using Visa or Mastercard, PayPal, and so on. Different deposit methods have different costs, and you should be aware and mindful of it.

My suggestion for you here is to pick an exchange that supports adding funds via the banking route. An exchange that offers deposit funds via bank often is more reliable than an exchange that does not have a partnership with existing banks or credit/debit card providers for adding funds. More over,

11. Centralized (CEX) or Decentralized (DEX) Exchange:

There are two very popular types of exchanges these days, and they are centralized and decentralized exchanges. Based on your jurisdiction and requirement, often decentralized exchanges are good. Thanks to layer 2 blockchains like Arbitrum, Optimism, and likes, the trading fees on these exchanges are becoming lower.

However, this is not recommended for an absolute beginner, as a user is responsible for handling their funds. Whereas on a centralized exchange, the operator of the exchange ensures all the security features like KYC, 2FA, strong password, and so on to ensure the security of your funds.

Again, if you are interested in trading permissionless and without sharing your KYC, you should check out my earlier guide on top decentralized exchanges.

12. Proof of Reserves – Transparency:

A while back, there used to be a crypto-exchange called “FTX,” which was the #2 exchange of its time, and one day FTX went bust as the founder of the exchange was using the user’s funds to trade via one of their companies. After this fiasco, exchanges have started publishing proof-of-reserve, which adds significant trust.

The reserves stay on the blockchain, so if there is any significant crypto movement happening, we all know there is something going on in real-time, and it could help avoid future catastrophes like what happened with FTX or Hoo(dot)com.

Also check: Crypto exchange hacks (A history)

Proof of reserves is one of those features that a good crypto exchange must have. At the same time, work with an exchange when we know who are the people behind it, where the headquarters are, and all those trust and transparency-related features that we expect from a reliable crypto exchange.

Final Takeaway: Choosing A Cypto Exchange

The world of crypto exchanges is complicated, and here at CoinSutra, we do our best to bring and share the latest news and features of the top crypto exchanges. However, due to the fast-moving nature of the crypto world, challenges can arise unexpectedly, which we have seen in the past with Mt. Gox, FTX, Hoo, and many known and unknown exchanges.

Choosing the right exchange should be your crucial priority, and instead of creating an account on a random unknown exchange, it could result in the total loss of your funds. I hope the above checklist will help you pick the best one for your needs.

FAQ’s How many crypto exchanges should one Signup for?

As a beginner, you should be okay working with one or a maximum 2 exchanges, as you learn how to use them, how to do tax accounting of your trade, and so on. Once you have moved from beginner to intermediate or advanced level, you should have more exchanges from tier-2 level such as MEXC, and Phemex so that you can quickly take a long or short position on new projects. 
You don’t want to end up using too many exchanges, as it might create an accounting and management headache for you. But if you live in a country like Dubai where there are no personal taxes and reporting, you can sign up for a few good exchanges and be ready to use them when a hot project is listed on it. 

What is the biggest mistake one makes while choosing an exchange?

The biggest mistake is not doing enough research about the exchange, founders, and proof of reserves. Without these, you might end up signing up for an exchange that may cease to exist one day and might cost you lose your entire investment and savings.

Any other crypto exchange tip that one should be aware of?

Do not use a crypto exchange as a wallet. Keep only those funds that you are trading, else move it to a cold wallet like Ledger Nano X, Metamask, or anything that is secure and you have complete control over. This way even if an exchange goes belly up, your funds are safe with you, and the only risk is the amount that is on that particular exchange. 

Here are some of the resources that will help you in your selection:

Best Cryptocurrency exchanges Best Margin Trading Exchanges Best Derivatives Exchanges

- Harsh Agrawal
9 Best Crypto Grid Trading Bots Apps (Make Automated Money)

Are you looking to start with the Grid trading bots strategy?

Here are the best crypto grid bot trading software:

Bot NamePriceSalient featuresRatingSign up linkBybit Grid botFree👉🏻Offers Grid bot copy trading feature
👉🏻AI Suggested Range for Trading bot
👉🏻 Spot bot
👉🏻 Future Grid bot (Long, Short and normal)9.2/10Start Bybit Grid botPionexFree👉🏻An exchange with the lowest trading fees
9/10Create free accountBitsGap$23/month👉🏻Trailing grid
👉🏻 Futures Grid bot
👉🏻 Grid + DCA bot Combo9/10Get $10 off
(Best for USA 🇺🇸 Users)Altrady2 free bots👉🏻Trailing grid
👉🏻Free backtesting9/10Try Altrady for freeGate.ioFree (an exchange)👉🏻Multiple Options9/10Sign up for
(Best for USA 🇺🇸 Users)BitUniverseFree👉🏻AI suggestions8/10Try BitUniverse3Commas$23/month—-6/10Get started for freeBinanceFree (an exchange)👉🏻Leverage bots7/10Start Grid bot on BinanceQuadencyFree—–5/10Use Quadency for free

Well, there are only a few Grid bots that are quite remarkable, and in the past few months, I had to chance to explore many of them. I in fact used all of them to run a grid bot, and here is one of my trade results with Grid auto trading bot:

Do notice the frequency of trade (Time-stamp).

Now, I feel confident enough to share insights from my learnings, and exploration of these grid trading bots.

I’m happy to announce the launch of CoinSutra VIP, which is a paid community. You can join is to learn how to earn passive income with grid bot trading strategy, and weekly calls on which coins you should be trading to make income from grid bot. You can email to learn more about our VIP plan.

However, If you are new here, I highly recommend reading about the best crypto trading bots apps.

Now, moving on to Grid trading bots…

Grid Trading works best in the ranging sideways market and by using a bot you could execute your strategy even when you are sleeping. Grid trading gives you profit with ups and downs of the price fluctuations in the market, and works best when any particular pair is in a range with no clear up or down trend in a longer period.

Disclaimer: Trading is a skill, and using a bot doesn’t guarantee you would make money. You should rather invest time learning the basics, and then use a bot to automate your strategy. It took me more than a year to get results, so do not RUSH!

Disclosure: This article contains affiliate links, but every word is unbiased and based on real experience.

Those who are into scalp trading can also take advantage of Grid bots to automate their trading strategy. Here I have compiled a list of the best available Grid auto bots, with my remark and experience. Some of them are free, and a few of them are paid.

My suggestion is to try one or two at a time, and see which one fits your style of trading.

Here we go…

6 Best Automated Grid trading bots: 1. Bybit Grid Bot automation

Bybit is a cryptocurrency exchange that offers many automation strategies, including grid bot trading. Since you will be directly running your bot on the exchange, the API delay and other issues we get using 3rd party tools are not there.

Bybit offers two grid bot type at the time of writing:

Spot market grid bot Futures market grid bot – up to 100x

Here are top features of Bybit grid bot:

Customizable Grid Configuration: Bybit Grid Bot allows traders to set up their own customizable grid configuration to fit their trading preferences. This includes setting the trading range, the number of grid orders, and the distance between each order. AI Based strategy: If you are not sure of what settings to use for your grid bot, Bybit offers AI feature which automatically help you set optimum settings for the grid bot. Multiple Trading Pairs: Bybit Grid Bot Trading supports multiple trading pairs, giving traders the flexibility to trade different cryptocurrencies using the same bot. You can run bot on spot market and also on futures market. 24/7 Trading: Bybit Grid Bot Trading is designed to trade 24/7, which means traders can take advantage of market opportunities at any time of the day or night, without needing to constantly monitor the market. Real-time Monitoring: Bybit Grid Bot provides real-time monitoring of the bot’s performance, allowing traders to keep track of their profits and losses, and make adjustments to the bot’s parameters as needed. Risk Management: Bybit Grid Bot Trading includes advanced risk management features to help traders minimize their risks. This includes the ability to set stop-loss and take-profit orders, as well as the ability to adjust the bot’s parameters based on market conditions. User-friendly Interface: Bybit Grid Bot Trading has a user-friendly interface that is easy to navigate and use. This makes it accessible to both novice and experienced traders. Get Started with Grid bot on Bybit

Learn in depth about Bybit grid bot trading here.

2. Binance Grid trading bot

Binance which is the world’s biggest crypto exchange has an in-built grid bot. A lot of Binance users are not aware of it, and if you have been looking for a grid bot, you can use the one which is offered by Binance.

To use this feature, you need to have a Binance futures account. If you don’t have one, you can create one using this link or by selecting Futures in your Binance account header. It may ask for a referral code, you can use 37705785.

Update: Binance grid bot is now available on Spot market too.

Once your futures account is ready, you can click on Derivatives > USD(S)-M futures

Anyways, now on this page click on “Grid trading” which is nicely tucked in the right corner of the trading page. Don’t forget to select the right pair, and transfer USDT to your futures wallet.

Now, on this page, there are settings that you need to configure to start setting up your trading bot on Binance.

Click on create to start your first grid bot on Binance. You can anytime click on “Active grid” to see the result of the current running grid bot. Anytime, click on the tutorial button to read more about Binance grid bot settings.

I recommend you to start with a small amount, and use less leverage when testing this. Give it some time to get accustomed to all the settings, and then increase your capital. This way you will minimize your risk of losing your funds.

Start Grid Bot Trading on Binance 3. Altrady Grid Bot

It was really hard for me to pick the best grid bot tool for the position #3. After careful consideration and testing all the tool, pick Altrady. Altrady is a trading tool that connects with 30+ crypto exchanges via API. Once you are connected with an exchange, you can run grid bot strategy.

What I like about Altrady is that it offers desktop app, mobile app and can also be accessed via browser. Talking about Altrady grid bot trading, it offers advanced data to help you calculate your profit and losses.

For example, here is one bot that I have been running on Altrady, and you can clearly see the entry and current price, and P&L so far.

Here are notable features of Altrady grid bot tool:

Run grid bot on any exchange that Altrady supports GRID Bot with Trailing Up and Down Take profit and stop loss price Time based auto-close One of the best data analytics for grid bot Start Your Free Trial 4. Pionex

Pionex is a crypto exchange that offers many crypto bots including grid bots. Once you deposit funds in your Pionex wallet, you can use their grid bot to automate your trades.

They have been around since 2019 and are based out of Singapore. I have shared a detailed review of Pionex before, and also shared the pros and cons.

Start Grid Bot Trading on Pionex 5. BitUniverse

BitUniverse is a free trading bot that offers various kinds of grid bots. What I like about BitUniverse (apart from being free is), it offers many advanced features that no other similar tool offers.

For example,

Stop loss feature Use AI strategy to auto-set your grid Manual Grid setting (The one I recommend) Leveraged GRID Bot Margin GRID Bot

Getting started is also easy, and it works with all popular exchanges.

Overall, for many who are looking to start for free, the BitUniverse grid bot is the best available option. You connect with your exchange using an API key, and since your crypto assets are not stored on BitUniverse, you are safe. They do have a few additional products, which I have not tested, and I suggest not trying anything apart from manual bot trading on BitUniverse. Once I have more details, I will write a separate article for the same.

Get Started with BitUniverse 6. Bitsgap grid trading bot

Bitsgap is the newest entrant in the world of crypto grid trading software’s and it is nicely done. It offers a demo account that is ideal for an absolute beginner, and you can connect with almost all the popular exchanges including Especially if you are from the USA, you should be using Bitsgap or 3commas, as both of them let you connect with the account.

There are three different kinds of bot available, and some nice unique features like auto-adjust grid size which Is something not available in any of the other grid trading software mentioned in this list. You need a paid account to run the bot, and you can also make payments in cryptocurrencies. Bitsgap also works as a crypto paper trading app, if you want to try paper trading before putting in real money. You can also read a detailed review of Bitsgap here.

Overall, Bitsgap is something that caught my attention recently, and it may become your choice of crypto grid bot app.

Start with Bitsgap (Get $10 off) 7. Smart Quantitative trading strategy is a popular crypto exchange that also allows users from the USA. They have been around since 2013, and recently they added the option to use grid bot trading on the platform. Since every transaction is happening on the exchange, you don’t need to pay for any 3rd party subscription or even connect with API.

For anyone who understands grid bot trading strategy, and looking for an easier way to execute it, is an ideal solution. Especially when there are limited solutions for our users based out of USA, is something one should look at. also have a native token called GT, which you can use to lower down the trading fees.

Start Grid Trading Bot on 8. 3Commas Grid Bot

I have been a user of 3Commas for a long time, and I really like their interface, and mobile app to track the performance or stop the bot. I have talked about 3Commas in depth here on my 3Commas review, which you must check out.

3Commas offers paper trading which is ideal for those who want to test Grid bot before actually putting in the real money. It also works with all popular cryptocurrency exchanges, and their free tutorials and guides will help you to master the art of Grid trading.

3Commas also offers AI-based grid trading, where you let their AI decide the upper and lower limit for the grid. Or, you can set a manual upper and lower limit for grid size.

Here are some of my results after using grid bots:

It definitely lacks the feature of stop-loss, or auto grid resizing, which may make a lot of difference for many novices. Unlike others, 3Commas is not free, and cost about $49/month for grid bot trading. However, you get 3 days trial, which is good enough for you to test out the system. Either way, in my experience 3Commas, is a solid choice for a majority of intermediate and experienced traders.

Take 3-Day Free Trial of 3Commas 9. Quadency

Quadency is another popular crypto trading bot, which offers grid bot as a free feature. However, their bot is different than the above 2, as you can’t set the upper and lower limit manually.

To be honest, I could not find much detail on how Quadency sets the price for grid, but what I like about them is; it gives you control on what to do when exit price is reached. Here are 4 options:

Recreate grid around exit price and continue trading
Use this option if you have sufficient balance in quote and base to re-create the grid at the point where the price exits the grid. Note – this involves cancelling all open orders and close open positions with a market order. Cancel all orders and stop bot
Use this option if you want to cancel all remain open orders and stop the bot. This option will not close any open positions. A position is open if the bot has bought quantity but has not sold the same amount or conversely if it has sold but has not bought back the same amount. Cancel all orders, close all positions and stop bot
Use this option if you want to close all positions in addition to cancelling any remaining open orders. Do nothing
Use this option if you would rather wait for all open orders to eventually get filled. As the price reenters the grid, the bot will resume trading. However, if the price never re-enters the grid, the orders will remain open indefinitely until manually cancelled.

You can read more about Quadency grid bot feature here.

Use Quadency For Free

There are a few more options like Pionex which is primarily an exchange but offers bot trading. Though I have not done the diligence of this exchange, so I would not trust this with my money, as it requires us to deposit the fund. Rest other options listed above, let you connect with exchange using API, and thus your funds are more or less safe.

Which is the best exchange for grid bot trading strategy?

The best exchanges are and (For the USA users), as the volume is quite high, and transaction fees are lower.

Which Grid bot software is the best for US residents?

Bitsgap or 3Commas works with many USA-based crypto exchanges, and hence should be used by residents of the USA.

Is there a course for learning grid bot trading strategy?

Yes, CoinSutra offers a VIP program that includes a video course for Grid bot trading strategy. You can email “” to learn more about this course.

Are trading bots legal?

Fact: Grid bot trading is perfectly legal, and a majority of traders have taken advantage of this automated trading strategy. The sooner you start, the more advantage you would get.

Which are the best coins for grid bot trading?

BTC and ETH are two evergreen coins for grid bot trading, as long as you consult the chart. In our CoinSutra VIP program, we often discuss profitable coins for automated trading.

Conclusion: Which Grid Bot App to use?

Well, Bybit or Binance should be your first choice as it is free, and especially if you are a beginner.

If you are an advanced user, use something like Altrady or 3Commas.

As it is, I will keep an eye on more new bots which are coming in the market and will include which is worthy enough to be listed here on our CoinSutra resources.

Now, it is your turn to let me know how your experience has been with Grid trading. Also, if you know of any other Grid trading bot, do let me know via the comment section below.

- Mr. Creatonics
7 Best Crypto Trading Bots in 2023 (Compared) – Top Options

Looking for the best Crypto trading bots for trading?

3commasQuadencyCryptohopperHaasonlineCrypto signals:YesNoYes
Paper trading YesNoYesNoSocial tradingYesNoYes–Trailing Take profitYesYesYesYesArbitrage botNoNoYesYesCloud basedYesYesYesNoMobile appYesYesNoPortfolio rebalancingYes–YesSupported exchangesHighHighHighBeginner-friendly (BF) or Complex (C)BFYesBFCBacktestingNoYesYesFree TrialGet 3-day trialFree plan availableGet 7-day free trialDiscounted 2-week trial

We all know the Crypto industry never sleeps, and if you are already a part of the cryptocurrency industry who indulges in buy/sell, here is your chance to trade like a pro.

Crypto trading bots are the answer to all the busy and futuristic individuals who understand how bots could help them in trading.

Before we dive deep into some of the best crypto trading bots, let us understand the basics:

What are Crypto trading bots?

Crypto trading bots are autonomous software program that automates all the manual process needed to trade.

As the crypto market is on 24*7, a crypto trading bot could help you make money even when you are sleeping.

The software works tirelessly every second to make a profit from crypto market volatility. Panic selling and greed buying are just some of the ways that turn your profitable trade into a loss.

These trading bots are designed to be emotionless, which in turn removes biases and emotional risks associated with personal trading.

Depending upon the crypto trading bots and strategy you use, you could make money in bull and bear markets alike.

If done right, one can automate the process of making money from crypto trading using Crypto bots.

And this is not all..

Crypto trading bots connect with your crypto exchange like Binance, Bitfinex via API, and they perform trading based on pre-defined strategies.

Concerned about funds security?

These crypto trading bots are secure as they don’t have permission to withdraw funds. Since the API feature is available via exchange (This is easy to configure), and by default, they don’t allow fund withdrawals.

Moreover, all the bots that are listed below are time-tested and have an excellent track record.

An experienced trader can easily quadruplet their earnings using a bot. At the same time, a beginner could level up the trading game by using these bots.

But do remember…

All of these Crypto trading bot tools offer free training modules, make sure you spend 1-2 hours to learn the features and how to use it properly. When in doubt, join their community on Telegram or discord and clear your doubts before you start trading with a big amount.

Are crypto trading bots profitable?

The short answer is yes and no!

If you are impatient and think it will always make money, well these bots are not for you.


If you have patience and zeal to learn, these bots could do wonders for your financial growth.

Crypto trading bots help you in automating most of the boring manual parts, however, at the same time, they also contain inherent risks associated with any kind of trading.

The key to making crypto trading bots profitable depends upon your approach.

If you are coming from fiat/forex or commodity trading, you need to understand the crypto market is way more volatile than the usual market.

If this is the first time you are planning to trade on crypto using a bot, it would be better to do paper bot trading (I have listed the software below) or test strategy using the backtesting tool before making a live trade.

Make sure; you take time to understand the software before you increase your trading amount and start trading like a pro.

Note: In crypto-trading, invest only that amount you are ok to lose and always use stop loss to minimize the risk.

Features to look for in a crypto bot:

Crypto signals: Buy/sell signals Paper trading to test your trading strategy Copy-trading strategy of others – Social trading Trailing stop loss Arbitrage Mobile app Portfolio rebalancing Price: one time or subscription Fees No fees or fees on every trading Supported exchanges Interface: Beginner friendly or complex Integration: Tradingview, Telegram Backtesting add-on

These are just some of the must-have features of a crypto-trading bot.

And now, it’s time to find some of the top bots for crypto trading.

7 Best Crypto Trading Bots for Automated Trading: 1. 3Commas

3Commas is an idle crypto trading bot for hobbyists, enthusiasts, and professional traders. It supports all notable popular cryptocurrency exchanges, and you can trade in altcoin pairs.

Another feature that makes 3commas widely popular among beginners is its paper trading feature. With paper trading, you could test your strategy before you put the real money into trading.

3commas offers a Smart trading terminal to trade on multiple exchanges (including your clients, family, or friends’ accounts) and enjoy the trailing take profit (TTP) feature.

Many pre-configured bots are available on 3commas. You can also create your bot. If you have never used a trading bot before, you could use 3Commas to get the hang of bot trading.

Popular features of 3Commas trading bot are:

Paper trading Portfolio rebalancing Margin trading Portfolio management Trader diary Crypto signals bots to buy/sell (Marketplace feature) Mobile app Sell all your portfolio in USDT or BTC with a single click

The power of 3Commas is in its simple to use interface. You can learn more about 3commas in our earlier post:

Read 3Commas review


They also offer 3 days free trial account which gives you access to all of their pro plan features.

Try 3Commas For Free 2. Cryptohopper

Cryptohopper is the most popular cryptocurrency trading bot in the market. The company is registered in Amsterdam and has been continuously adding new trends and features since late 2017.

The interface is beginner-friendly, and you can follow some of the popular indicators like moving average, Bollinger bands to automate trading on all popular exchanges.

The Cryptohopper lets you trade unlimited cryptocurrency pairs in autonomous mode. Cryptohopper also offers a marketplace where many pro traders sell their strategies, and you can copy them to make money.

Another highlight of the Cryptohopper is the Arbitrage bot, which lets you make a profit from the price difference of the same pair between two exchanges.

Cryptohopper has taken Arbitrage to the next level by offering sophisticated triangular Arbitrage, which helps you make money from the price difference between multiple pairs on the same exchange.

Read: Cryptohopper review

The Cryptohopper mobile app lets you monitor your trade and portfolio. If you are connecting your existing exchange account with Cryptohopper, you can set the start amount to calculate the profit accurately. This removes the point of setting up a new exchange account for your bot trading.

At the time of writing, Cryptohopper supports the following exchanges:

Binance Coinbase pro Kraken HTX KuCoin Bittrex Poloniex Bitfinex

Popular features of Cryptohopper:

Paper trading Trailing stop loss Arbitrage trading Marketplace for Templates, strategies, and signals Cloud-based app Mobile app to monitor your trade and portfolio Drag and drop strategy designer Strategy backtesting with historical data 120+ indicators & candle patterns Wallet scrubber

Cryptohopper Pricing and fees:

Cryoptohopper offers three plans, and the base plan starts at only $19/month. The monthly subscription ensures you are not locked in for a long time, and you can upgrade/downgrade or cancel your subscription anytime.

The seven days of free trial gives you ample time to enjoy all the premium features of Cryptohopper before you start paying.

Paypal, bank transfer, and crypto payments are supported to buy Cryptohopper subscription.

Start Your 7-Day Risk Free Trial

Use coupon “NEWSDISC” to get 30% discount.

3. Bitsgap – Automated crypto trading

Bitsgap is a cloud based tool that offers various crypto automation bots to help you make money while you sleep. The platform has been around for last 3 years, and they are constantly adding new features, and making the automated trading enjoyable.

At the time of writing this resource, here are some of the top features of Bitsgap:

Grid bot strategy DCA bot strategy Trading Terminal Smart orders

Bitsgap connects with your crypto exchange account using the API method, and this your funds stays on your exchange only. I do miss seeing a dedicated Bitsgap mobile app which is something all the competition of Bitsgap offers, but overall Bitsgap is a crypto trading bot that you should not ignore. Read a detailed review of Bitsgap here.

Bitsgap pricing:

From the pricing perspective, Bitsgap is costlier than 3Commas, and may not be the best for beginners. However, often users find Bitsgap UI to be simpler than 3Commas and other alternatives, and that justifies the price.

Start 7 days free trial 4. Cornix – Affordable Crypto Trading

When it comes to an affordable Crypto trading bot, Cornix wins the hands down. It may not be as popular as 3Commas, Bitsgap and others, but the kind of features it offers, it may make other feels shy.

Here are features of Cornix –

Auto-Trading DCA bots Tradingview bots Trailing Orders Telegram group signal integration Copy trades Discover Profitable Telegram signal groups

There are more features of Cornix, but the above features are good enough for you to try and test it out.

One of the least talked-about, and in my opinion, remarkable features of Cornix, is that it allows you to automate trading from the Telegram signal group. This way, you can automate your entire Telegram signal group trading experience. I will discuss this in detail in the upcoming review of Cornix, but for now, I’ll let you try this on your own.

Try Cronix Free for 14 days 5. BitUniverse

BitUniverse is a free (currently) crypto trading bot that offers both AI based trading and manual trading option.

Using BitUniverse, you can connect with your popular exchanges like:

Binance Pionex HTX Okex

They support more than 22+ exchanges, so chances are, your favourite exchange might be supported by BitUniverse.

BitUniverse seems to be very interesting, as it offers a few popular bots which are mostly paid on other platforms. One of my favorite bot “Grid trading bot” is available on BitUniverse, and is completely free to use.

Here is list of all available bots on the BitUniverse platform:

Grid trading Trailing take profit Stop limit

Again, I don’t think this platform will be free for long, so you better take advantage of BitUniverse to practice crypto trading bots for free. Also, BitUniverse is recommended for the intermediate level of trader, but beginners should consider the top 3 bots listed above.

Get Started With BitUniverse For Free 6. Haasonline

Hassonline is one popular crypto trading bots that work with almost 22 exchanges. However, its superpower is a variety of bots like Flash crash bots, Arbitrage bots, which helps you make money in every situation.

This is a desktop-based bot that gets easier to use once you are done watching their free bots training videos. The downloadable software is available for Windows, Linux and Mac as well.

Every bot serves a unique purpose, and for example, rather than selling your bags on loss, you could use Flash crash bot to profit from the high movement.

Watch this video to understand how Flash crash bots work:

A few of the many bots offered by HaasOnline:

Trend line bots Advanced index bots Trade bots Flash crash bot

Here are Haasonline supported platforms and exchanges:

Haasonline Fees and plans:

HaasOnline accepts payment via Bitcoin only. You could save a significant amount by pre-paying for one year in advance.

They have three plans at the time of writing this guide, and you could choose any based on your requirements. You can always upgrade your subscription anytime by contacting the support.

Haasonline doesn’t offer a free trial, but they do have a 2-week discounted trial.

Use 20% Haasonline discount Coupon code: Coinsutra20.

Get 2-week Discounted Trial 7. Quadency

Quadency is primarily a trading terminal that let you trade on multiple exchanges from a unified platform. This feature is something common among all crypto trading bots, as it makes trading easy for us when we are dealing with multiple exchanges.

What makes Quadency different than all other bots listed here is the pre-defined automated trading strategies and backtesting feature.

At the time of writing, following bots are available on Quadency platform:

Grid trader for grid trading Smart order Market maker plus Bollinger bands MACD bot Mean reversion bot Accumulator (DCA)

They offer a free plan which is idle for beginners or passive investors of digital assets. The pro plan starts at $49, and allows monthly trading limit of $100,000 USD.

All the bots are available in the free plan, and you can always upgrade to pro plan for advanced features.

Create Free Account on Quandency Conclusion: Which is the best Crypto trading bot?

3Commas is the best beginner-friendly crypto trading automated bot that you can use. Cryptohopper is the best crypto trading bot that offers all the basic and advanced features that a trader would need. The features like backtesting, and social trading make it ideal for hobbyist and pro traders alike.

However, since each of these trading bots has a unique interface and offers distinct features, you should try all of them. You never know which one fits the best with your trading style.

I’m also testing more bots that are around for a while and have excellent community support. Currently, these are the bots that I’m testing and will be added in the near future:

Kryll Zignaly Gunbot

As I discover more worthy Crypto bots, I will keep updating this to make the best resource for finding top crypto bots for trading. Make sure, you bookmark this page so that you could re-visit again. If you would like to recommend any other bot, do let us know in the comment section below.

Here are a few frequently asked questions about crypto trading bots:

Which are the best Arbitrage Crypto bots:

Hassonline and Cryptohopper are two arbitrage crypto bots that you can use for arbitrage trading.

Should you use multiple crypto trading bots?

It is highly recommended that you use one bot at a time. It is best to master one bot rather than using multiple bots. However, if you want to use two different crypto trading bots, you should connect them with different exchange accounts. This way, you will be able to calculate profit, and your trade reserve amount will not overlap.

Do you need to keep your Computer on 24*7

Since most of these bots are on Cloud, you don’t need to keep your computer on or stay connected to the internet all the time.

Do trading bots really work? Specifically in the crypto space

A crypto bot is as smart as you are, and they automate a lot of repetitive tasks. Once you have a strategy in place, you can use trading bots to run 24*7. A good example of this is grid trading bots, which work great in the sideways market.

Do I need to constantly monitor my bot?

There is no one answer to it, as It all depends on the strategy that you have deployed.
Some trading bot strategies require you to monitor bot once in a week, and some of them may require you to keep an eye on price moment, and make changes as necessary.

- Harsh Agrawal
9 Best Crypto Derivatives Exchanges For Futures Trading – 2023

The best crypto derivatives exchanges:

ExchangeNo. of Perpetual ContractsNo. of Futures Contracts1. Bybit22062. Binance243313. Phemex9214. MEXC Global21605. Deribit18406. Bitmex46257. Gate.io31008. HTX153299. OKX169184

Derivatives are an essential part of any market, be it a stock market, forex market, or cryptocurrency market. Traders can use various strategies to speculate or mitigate their losses through hedging.

In case you want to explore the derivatives market in crypto. You would need an exchange that provides such services. Some of the best cryptocurrency exchanges you already use support derivatives trading. 

Top Rated Best Futures Trading Platform Bybit is the best and most trusted crypto futures exchange that offers 400+ trading pairs and up to 100x leverage. Their platform is licensed, regulated and has industry leading fees on futures and derivatives contracts. Best Futures Trading Platform Claim Joining Bonus of $4000 We earn a commission if you make a purchase, at no additional cost to you.

Many of these derivative exchanges offer perpetual contracts, meaning your position never expires as long as you are not getting liquidated.

Derivates trading is not new to the crypto market, and many traders make life-changing money with derivative trading. So, CoinSutra searched for the most widely used and trusted ones and presented you with our Best Crypto Derivatives Exchanges list.

Let us understand the derivative products of these exchanges.

8 Best Derivatives exchanges for Crypto: 1. Bybit – #1 Perpetual Futures Trading Bybit Crypto Exchange

Bybit is a specialized platform that is dedicated to derivatives markets only. It has been in the market since 2018. 

Derivatives products on Bybit are categorized as follows:

USD Margined Perpetual

These are perpetual contracts that are settled in USDT

Coin Margined Inverse Perpetual 

These are perpetual contracts that are settled in cryptocurrencies such as BTC, ETH, etc.

Coin Margined Inverse Futures

These are delivery contracts that are settled in cryptocurrency, such as BTC, ETH, etc.

Bybit hasn’t been in the crypto market for long. What makes it a good platform is that its primary purpose is to cater for crypto derivatives trading.

The trading fee structure of Bybit is pocket-friendly. It charges 0.075% of the transaction from the market taker but rewards 0.025% of the trade to the market maker.

Bybit’s team claims the platform can process up to 100,000 transactions per second. This makes it powerful for both individual and institutional traders.

For user experience, Bybit is clean. It’s built to appeal to newcomers and veteran traders alike. There are a lot of essential educational resources for newbies to learn trading on the platform. 

Traders can easily access Bybit on any browser or download its mobile app.

Read: Bybit review | ByBit Referral & Bonus

Newcomers on Bybit get a bonus of $90.

Join Bybit & Claim Up to $30000 Joining Bonus 2. Binance – #2 Derivative Crypto Exchange Binance Crypto exchange

Binance is the #1 exchange for derivatives trading and also the most economical. It has the most extensive customer base and trading volume in the global crypto markets.

Binance makes it easier to transfer funds between your spot market account and Derivative account and thus helps you take advantage of arbitrage when there is a price difference between the future market and spot market.

Derivatives products on Binance are categorized as follows:

USD-Margined Futures Contracts 

These are perpetual as well as delivery contracts that are settled in USDT and BUSD.

Coin-Margined Futures Contracts

These are perpetual and delivery contracts that are settled in cryptocurrencies such as BTC, ETH, etc.

Binance Leveraged Tokens

Leveraged tokens allow a user to have increased exposure to a particular crypto asset.

Binance Options

These are European-style vanilla options that can be used either to maximize profits or to limit losses.

Binance has a very reasonable fee for derivatives trading. There is no fee for the deposit of funds on Binance. The trading fee varies from 0.01% to 0.05% of the transaction value. Further, a user can reduce this fee by holding the in-house token of Binance, i.e., BNB. 

The exchange is pretty secure and has a two-factor authentication option for users. And customer support is also excellent. 

Create Derivative Account on Binance 3. Phemex – 100X Leverage & No KYC

Phemex is one of those crypto derivative exchanges that allows leverage up to 100x, and you can currently trade crypto on derivative market without needing to complete KYC. As other top derivative exchanges like Binance, Bybit have made KYC mandatory, a lot of users who like to trade without sharing their KYC details, are moving now to Phemex exchange.

The platform offers all the features you can expect from a top crypto derivative exchange, and you can literally get started in 10 minutes.

Here is how to start derivative trading on Phemex:

Create an account on Phemex (No-KYC needed) Fund your account using Crypto (USDT or other) Select derivative market Set your leverage and start trading derivatives

There is a limit of 50000 daily USDT withdrawal for non-KYC account, which is pretty high for a lot of crypto traders.

Win $4050 Welcome Bonus on Phemex

4. MEXC Global

MEXC Global is an exchange that brings many low-cap gems at their incubation stage. The exchange was established in 2018 in Seychelles, East Africa. The exchange has a presence in more than 200 countries and has served more than 6 million users.

The exchange supports 11 different languages. In derivatives markets, MEXC Global only deals with perpetual contracts. Users are also provided margin on these contracts up to 125x.

The exchange offers both USDT margined as well as Coin margined contracts. The trading fee for perpetual contracts on MEXC Global is 0.02% for makers and 0.06% for takers.

The exchange has a pretty decent user interface, and it also has a mobile application for iOS and Android versions. Please read our full review on MEXC Global.

Create Instant Account on MEXC Futures 5. Deribit Deribit Crypto Exchange

Deribit is another specialized exchange built only for trading crypto futures and options. It started in 2016 and has built a user-friendly platform for derivative traders. 

Deribit is open to traders in over 100 countries. There is no fee for a deposit, and withdrawal is also free up to a certain limit. 

Derivatives products on Deribit are categorized as follows:

Deribit Perpetual

These are perpetual contract which is settled in cryptocurrency.

Deribit Futures

These are delivery contracts that are settled in cryptocurrency.

Deribit Options

These are European-style vanilla options that can be used either to maximize profits or limit losses.

The platform only supports Bitcoin and Ethereum derivatives. Deribit’s interface appeals to a newcomer and serves as a powerful tool for veterans. You can trade via its web portal or download its mobile application in Android and iOS versions. 

Some additional features of Deribit are as follows:

Deribit supports many trading bots and uses cold storage to keep your assets safe. The trading fee charged by Deribit is variable and can be referred to here. Customer support is available 24/7.  Deribit supports English, Korean, Spanish, Russian, Japanese, Chinese, and Turkish. It offers dashboards for trading history, recent trades, and order books.  It also has statistics for futures, indexes, volatility, and technical indicators.

To trade, you need to create an account, make a deposit, and choose either futures or options trading. Their blog has helpful content if you get stuck.

Save 10% on Deribit Forever 6. Bitmex

Bitmex is a popular crypto exchange where you can trade derivatives. It’s been in the game since 2014 and has grown as a good platform for many traders. It is another specialized derivatives exchange.

Derivatives products on Bitmex are categorized as follows:

Perpetual Contracts

These are perpetual contracts that are settled in Bitcoin.

Futures Contracts

These are futures contracts that are settled in Bitcoin.

Further, Bitmex also offers a margin of upto 100x on these contracts. Bitmex offers derivatives products on various tokens such as BTC, ADA, BNB, DOT, DOGE, EOS, ETH, etc. 

The point worth noting is that all these contracts are settled in BTC. Thus, withdrawals, deposits, and transaction fees are all done in BTC.

In total, the platform offers 17 perpetual and 84 futures contracts.

Market takers pay 0.075% per trade, and makers get a 0.025% rebate. This is a refund given to makers for providing liquidity for the platform.

Read: Bitmex review

Some additional features of Bitmex are as follows:

There is a 24/7 customer support For safekeeping, Bitmex stores some of your cryptos on a cold storage  The platform has a feature of two-factor authentication to prevent malicious parties from accessing your account Bitmex-supported languages are English, Japanese, Chinese, Korean, and Russian. Create Free Account on Bitmex 7. is an excellent crypto exchange that has gained popularity because of its unique product offerings. It stands tall in the list of best crypto exchanges, and its derivative products are also not short of anything.

The various derivatives products offered by are categorized as follows:

Perpetual Contracts

These are perpetual derivative contracts that are settled either in USDT or in BTC.

Futures Contracts

These are delivery contracts that have a fixed expiry date.


These are options that can be used either to maximize profits or to limit losses.

The trading fee on is as follows:

Type of ContractsMaker feeTaker feePerpetual Contracts-0.025% (Rebate)0.075%Futures ContractsNIL0.04%Options0.02%0.05%

In addition to the above, charges a settlement commission of 0.015% on Futures contracts. The platform offers 149 perpetual contracts and various futures contracts.

Create Free Account on 8. HTX HTX Futures

HTX is one of the leading crypto exchanges that have huge liquidity. In addition to this, the exchange is good on all security parameters. In addition to essential services such as spot and margin trading, HTX has a substantial trading volume in the derivatives market.

HTX offers 168 perpetual contracts and 56 futures contracts.

The derivatives products offered by HTX can be categorized as follows:


These are delivery contracts that are settled on a specific date.

Coin Margined Swaps

These are perpetual contracts that are settled in cryptocurrency, such as ETH, BTC, etc.

USDT Margined Swaps

These are perpetual contracts that are settled in USDT.


These are options that can be used either to maximize profits or to limit losses.

The trading fee charged by HTX for derivatives trading is as follows:

Type of ContractsMaker feeTaker feeUSDT Margined Swaps0.02%0.04%Coin Margined Swaps0.02%0.05%Futures Contracts0.02%0.04%OptionsVariableVariable Create Free Account on HTX 9. OKX OKX

You’ve either used it, heard of it, or seen a different trader use it. OKX is a big name in crypto with support for many assets. It is one of the top exchanges for derivatives trading, according to CoinGecko.

Derivatives products on OKX are categorized as follows:

Perpetual Contracts

These are perpetual contracts that can either be USD margined or Coin Margined. This means that they can either be settled in USD or cryptocurrency.

Futures Contracts

These are futures contracts that can either be USD margined or Coin Margined. This means that they can either be settled in USD or cryptocurrency.


These are European-style vanilla options that can be used either to maximize profits or to limit losses.

OKX exchange offers 139 perpetual and 1336 futures contracts. This huge variety of derivative products makes OKX viable for traders who want to trade in Altcoin derivative products. Further, OKX is one of the most liquid exchanges for derivatives trading.

There is also a beginner knowledge quiz for newcomers going into futures and perpetual swaps. The test is simple, so don’t skip it. OKX wants traders to come into their derivatives market with a little knowledge of how things work. The quiz lets you learn margin calls, swaps, futures, funding, and withdrawal schedules on OKX.

The base trading fee on OKX is as follows:

Type of ContractsMaker feeTaker feePerpetual Contracts0.02%0.05%Futures Contracts0.02%0.05%Options0.02%0.05%

This fee can be reduced once a user attains VIP status.

Another cool part about OKX is that it allows its Customer to pair derivatives trade with fiat currencies. This allows you to make a trade in a currency of your choice. And you won’t have to suffer exchanging from one currency to the other when withdrawing your funds.

In general, OKX is a great place to trade crypto assets.

Create Free Account on OKX Which crypto derivative exchange should you be using?

There are a number of factors that should be considered while deciding the best derivative exchange for you. If you are looking for something simple and powerful, pick Binance or Bybit.

The platform is friendly for beginners and offers paper trading for you to practice derivative trading.

For high liquidity, Bybit is an excellent choice. Although its derivative trading fees are on the higher side, it is one of the oldest in the market and offers high liquidity.

For those looking to trade in more coins, Binance Futures, and MEXC Global are the ideal choices. Unfortunately, all these exchanges are not available for users from the USA.

Over to you:

Let me know which crypto derivative exchange are you using and why? If we like your recommendation, we will include this in our list of top exchanges for crypto derivatives trading.

- Harsh Agrawal
14 Must-Have Tools for Successful Crypto Trading (+Expert Picks)

Crypto trading is lucrative to many. If you are reading this, chances are you have indulged in crypto trading too.

While profitable, it can be highly pernicious to your financial health if not done properly.

By properly, I mean doing it with the right mindset with the right set of tools such as market watcher, portfolio manager, Crypto trading journaling tool, low-cost trading exchanges, charts, crypto news aggregator, and finally, reliable exchanges where you can trade.

Here is the list of cryptocurrency trading tools listed below:

3Commas (Single terminal for smart trading, Read 3commas review) Koinly (Crypto Portfolio & taxation tool) Binance (The best low-cost exchange for trading, read Binance review) Altfins Altrady TradeSanta Ledger Nano X (Most secure crypto hardware wallet) Bitfinex CoinMarketCap CoinGecko CoinMarketCal CryptoPanic CoinMarketMan (The most sophisticated journaling tool) Bonus

That is why, to make the crypto world a safer, more profitable space for all our readers, we have compiled a list of 13 highly recommended crypto trading tools.

Top Cryptocurrency Trading tools for Beginners and Professionals 1. 3commas

3commas offers a lot of features and the most liked one is the Trading terminal.

You can connect to cryptocurrency exchanges like Binance, Bittrex, Poloniex through a single interface of 3commas and make your trading decisions on each of them simultaneously.

Plus, you can get smart trading features such as trailing stop-loss and trailing take-profit which enables one to maximize their profits in real-time.

Apart from these,

3commas is a modern-day crypto trading bot and portfolio balancer which helps crypto traders like you and me make the most out of their trades.

Read more: 3Commas review: How to use 3Commas

Also, with 3commas you can do social trading by copying portfolios of already successful traders who are consistently having decent portfolio growth.

Try 3Commas For Free 2. Koinly

Koinly is a crypto portfolio manager for beginners and advanced users alike.

We have been using this manager for quite some time now and are really impressed with its features.

With Koinly you can track your cryptocurrencies on various exchanges and be perpetually aware of what coins you have in your portfolio.

It also provides intuitive graphs and charts based on your portfolio holdings and market movements so that you can make educated decisions.

It is a paid tool that is available on the web.

Calculate Your Taxes on Koinly 3. Binance

Now that you have seen portfolio balancers, portfolio managers, crypto wallets, it makes sense in looking at one of the most prominent crypto exchanges that have set a new benchmark for the whole trading exchange industry.

Binance is one of the world’s top three exchanges. And to your surprise and mine, it is not even two years old in the business.

The team behind Binance is amazing and heavily focused on serving its trading customers. That’s why they launch innovative airdrops, competitions, and prizes regularly for their traders.

Plus, their trading fee is the lowest in the industry at 0.1%, on which also you can get a 50% discount if you use their native BNB tokens to pay the trading fees.

Create Free Binance Account Create Binance Futures Account 4. Altfins

Altfins is a crypto-screener app and market analyzer tool that will help you identify highly profitable trades in record time. It could help you save 30% of the trading time and assist by identifying chart patterns in your selected crypto assets.

Many of you might not have heard about Altfins, as the platform might not seem that appealing at a single glance. But, as you start learning and using the platform, you will be surprised by the features it offers.

For example, have a look at the below screenshot of Altfins homepage, and in a single glance you can find a ton of trading opportunities.

However, if you are like me; and prefer to trade in the coins that are on our watchlist, you can do that too with Altfins.

You can create your own watchlist of coins, and use this tool to quickly identify profitable trading opportunities.

There are more features that you will find this tool worth your time investment, and I would not be surprised if it becomes one of your go-to tools for crypto trading.

Here are some of the things you could do with Altfins –

Quickly identify the trend of a coin Analyze the entire crypto market to identify trading opportunity Connect with your exchange using API, and analyze only your portfolio for the trading opportunities It also offers trading via API feature (Which is not that great) On-chain data Track market news

And a lot of more features which I let you discover of your own.

Overall, I highly recommend you spend 1-2 hours learning the features of Altfins, and if you end up using it, do come back to say thank you.

Check out Altfins 5. Altrady

I guess if you are using Binance and Bitfinex then you have almost covered more than 50% of the crypto market.

But if you are someone who wants to dig deeper and increase their reach as well as reduce their risk by using several exchanges then Altrady is for you.

Using Altrady one can trade on multiple exchanges from a single account and trade hundreds of currencies from their palm with Altrady’s mobile app.

You can access real-time updates, alerts, and charts from various exchanges from where you can buy different cryptocurrencies.

In this way, you will diversify even your exchanges by buying/selling different cryptocurrencies at different exchanges, therefore reducing your risk of being exposed to one or two exchanges.

Featured of Altrady:

Smart Trading Real-Time Market Data and Alerts Multiple Exchanges Scaled Ladders Market Scanners Desktop app (Also available on cloud) Trading Analytics Positions with P&L Crypto Journaling Portfolio Manager Mobile apps Coinigy import

These features don’t come for free as there is a standard fee for monthly and annual subscriptions but the trial version is available for a month free of cost.

Start 14 Days Free Trial 6. TradeSanta

TradeSanta is a Crypto trading bot that automates crypto trading and helps you make a profit even when you sleep. Another interesting thing behind TradeSanta is it is suitable for newbies as all you are doing is creating a long and short position.

Getting started is easy, and all you need to do is connect TradeSanta with a supported exchange using API and then you can start with minimum investment. Even $50 is a good start to test out this free Bot.

At the time of writing, the following exchanges are supported:

Binance Bittrex Bitfinex HitBTC

The following exchanges will be supported soon:

BitMex HTX

The help guides and videos will help you understand how to use TradeSanta and you can get started with automated crypto trading within less than 30 minutes.

Start Trading on TradeSanta 7. Ledger Nano X

Ledger Nano X is the most popular cryptocurrency hardware wallet in the market.

If you are someone who is serious about cryptocurrencies and its long-term value, you MUST have Ledger Nano X at your disposal.

Ledger Nano X currently supports more than 150000 cryptocurrencies. Plus, it is an HD wallet that is quite popular in the cryptosphere.

We have covered extensively about Ledger Nano X in the past and can’t recommend it enough. That’s why I am leaving you with this guide to see it for yourself:

Buy Ledger Nano X Now 8. CoinMarketCap

CoinMarketCap needs no introduction unless it is your first day in the world of crypto.

This is one of the most visited websites in the cryptosphere and that’s because it tracks prices, market cap, volume, listings of coins and tokens in this space.

Furthermore, it shows prices, volume, and other data in 13 languages and 28 national currencies. It also saves historical price charts of crypto markets and provides you with real-time charts for BTC and the whole crypto market.

It has APIs and widgets, social, and markets section for each coin/token which makes things easier for traders to make decisions quickly

Check out CoinMarketCap

Also see: 5 Best Alternatives To CoinMarketCap 

9. CoinGecko

CoinGecko is another price and volume tracker website that does the same job as CoinMarketCap.

Well, why use it when it is the same as CoinMarkeCap, you may ask.

That is because it is not a good practice to rely on centralized systems like this for decentralized markets.

With CoinGecko you can see and track prices of 100s and 1000s of cryptocurrencies in fiat and BTC with appealing charts of different intervals. One can also see CoinGecko UI in 15 different languages apart from English which is a huge plus point for any website in this niche.

Check out CoinGecko 10. CoinMarketCal

CoinMarketCal is a valuable tool in your armory if you are trading futures.

Here are top features of CoinMarketCal

Event calendar: Lists upcoming events related to various cryptocurrencies, such as product launches, partnership announcements, and conferences. Event submission: Allows users to submit events for inclusion on the calendar. Event verification: Utilizes a community-driven verification system to ensure that events are legitimate and accurately described. Event filtering: Allows users to filter events by date, cryptocurrency, and event type. Event reminders: Allows users to set reminders for upcoming events of interest. Event ratings: Allows users to rate events based on their impact on the cryptocurrency’s price. User accounts: Allows users to create accounts to save their preferences and set event reminders. Mobile-friendly: Optimized for viewing on mobile devices.

It is a must-have tool to be used while making your crypto strategy and the good thing is that it is totally free to use.

Check out CoinMarketCal 11. CryptoPanic CryptoPanic

CryptoPanic is another favorite tool of mine that helps me stay on top of the news from the cryptosphere.

Crypto is a relatively a small market which is highly influenced by news. That’s why it becomes important to know the news and then gauge the sentiments of the market.

This helps in solidifying your crypto strategy.

With CryptoPanic’s free version, you can follow highly customized news according to the coins you are interested in.

Plus, you can get the feature to follow your chosen YouTube channels, Reddit thread and Twitter accounts to accurately gauge the sentiments of the market.

You have the option to do these things on your mobile also as CryptoPanic provides apps for both iOS and Android. (Download CryptoPanic Android App, Download CryptoPanic iOS App)

Check out CryptoPanic 12. CoinMarketMan

CoinMarketMan is the most sophisticated crypto trading journaling app you can use now. It works with almost all the popular crypto derivatives trading exchanges, such as Binance, Bybit, to name a few. It also works with spot, margin, and future markets.

Coin Market Manager automatically imports the trades from connected exchanges and helps you analyze your trading setup and your overall win and loss. For a serious crypto trader, this tool helps in understanding which setup is working best for you, and helps you in improving your overall crypto trading setup.

If you are a beginner, you may not realize the importance of trading journaling, but this is something that you should use, and once you are accustomed to journaling, you will understand the benefit of it.

Note: In the V2 of CoinMarketMan, they removed the automated journaling option for spot exchanges. For now, this platform is ideal only for derivatives traders.

Here are the top exchanges supported by CoinMarketMan:

Binance Deribit Bybit

CoinMarketman is a paid tool, however, they do offer a free trial which is good enough for you to understand the benefit and test all the features offered by this sophisticated crypto trading tool.

Check out CoinMarketMan 13. TradingView

TradingView is a highly-rated charting software that is quite popular in the world for showing accurate market charts for commodities, stocks, derivatives, and now crypto also.

So if you are someone who likes technical analysis of coins by looking at charts of different intervals, this tool is for you.

Moreover, to aid you will find all the latest and traditional patterns analysis tools inbuilt in trading view software.

Try TradingView Free for 30 Days

Here are the top FAQs related to crypto trading tools:

Which software is best for crypto trading?

Binance is the widely used software for trading crypto. It is available in almost all parts of the world except the USA, the UK, and a few more sanctioned countries. Users from the USA and UK can use Kraken, another popular crypto trading app.

Can I automate crypto trading?

Yes, you can automate crypto trading using one of these automation apps such as:

Upcoming Crypto trading tools & Software:

These are some of the tools which are upcoming, and they are worth watching. Some of them may develop into a mainstream tool or some of them may shut down. Either way, these projects are doing something significant and would help you in picking better trade:

Trading room tools:

Well, I am sure no one would have access to all the tools. Don’t worry. When I started off, I didn’t have all this either, but with time you can start adopting one thing at a time to take your crypto trading skills to the next level.

Now, it’s your turn to try out these tools and share your experience in the comments section below 🙂

Here are a few other hand-picked guides for you to read next:

Investing In Cryptocurrencies 101: A Beginner’s Guide 6 Tools Every Cryptocurrency Investor Must Have From Day One How To Sell Your Entire Crypto Portfolio For BTC Or USDT At Once [Trick] What is Margin Trading in CryptoCurrency: Learn How to Get Started
- Harsh Agrawal
8 Best Crypto Margin Trading Exchanges Compared (2023)

The best crypto margin trading exchanges:

Top Crypto
ExchangesKey Features & Margin1. Bybit✓ Specialized derivatives trading platform
✓ 100s of trading pairs
✓ Available globally
✓ Spot trading margin up to 100x
✓ Derivatives trading margin up to 100xTrade Now2. Binance✓ Leading crypto exchange 🌎
✓ Highest liquidity in the market
✓ Low transaction fees
✓ Spot trading margin up to 20x
✓ Derivatives trading margin up to 20xTrade Now3. Kraken✓ One of the most secure platforms
✓ A good choice for US 🇺🇸 residents
✓ Spot Trading Margin up to 5x
✓ Derivatives Trading Margin up to 5xTrade Now4. KuCoin✓ Easy and simple to use 📊
✓ Offers several unique products.
✓ Spot Trading Margin up to 10x
✓ Derivatives Trading Margin up to 100xTrade Now5. Bitmex✓ Advance Trading platform
✓ Derivatives Trading Margin up to 100xTrade Now6. Phemex✓ Negative Maker fee for derivatives trading
✓ Several promotional bonuses
✓ No KYC
✓ Derivatives Trading Margin up to 100xTrade Now7. CEX✓ Exchange registered with FinCEN
✓ One of the oldest exchanges in the market
✓ Spot Trading Margin up to 10xTrade Now #1 Choice for Margin Trading Bybit - Best Margin Trading Platform The most trusted and widely used crypto trading platform, Bybit. This one offers margin trading, and you can open account instantly. You can leverage up to 100x, and KYC is required only for high withdrawals. The platform offers all advanced tools a trader will require for profitable trading. Bybit - Best Margin Trading Platform Claim $90 Joining Bonus Bybit review We earn a commission if you make a purchase, at no additional cost to you.

Margin trading is the process of borrowing funds for trade. This type of trading is recommended for experienced traders, as you have a high potential of making huge money, and at the same time, you could lose money too. Traders with risk management in place should venture into the margin and Derivative trading.

Note: 10x means 10 times. For example, while placing a 10x margin spot trade a user needs to keep $100 as margin and can place the order worth $1000. Here the exchange will lend $900. This borrowing is not free, as you will be paying an interest rate, so you can’t keep your trade open for ever.

We all know that cryptocurrency markets are the most volatile market in the world. Therefore, one of the best ways to make money in the crypto sphere is by trading cryptocurrencies.

Usually referred to as day trading, it can be highly risky and rewarding at the same time. To make life changing money through trading, a trader needs to be competent and use different trading methods. 

Margin Trading is the riskiest form of trading. If used correctly, this can become the most profitable method of trading as well.

Just for a head start, margin trading is a form of trading in which you trade with borrowed money. To borrow this money, you need to have some collateral. This method of trading with borrowed money is also known as leverage.

For example, if you have $100 and the exchange allows 10x margin on BTC spot trade. Then in this case you can place an order (both long order or short order) up to worth $1,000. This process of trading more than you can actually afford is known as Margin Trading.

In simple words, it is like borrowing money and investing it in cryptocurrencies.

However, a user must know that in case the market moves in a direction opposite to your position, the exchange can force sale these assets and liquidate your holdings.

Note: Margin trading, in general, is highly risky, crypto margin trading is even riskier. So, it is a strict NO for beginners given veteran traders may also incur huge losses in margin trades.

However, if you are good at regular day trading, you can start trying margins for smaller amounts for crypto trading.

Best Margin Trading Crypto Exchanges

Here is a list of best leverage trading crypto platforms:

1. Bybit

Bybit is a specialized platform for derivatives trading. The exchange was established in 2018 and had more than 10 million registered users. 

Bybit deals in a number of perpetual as well as futures contracts. The platform has launched a pilot for spot trading, which should be available to all users in the near future.

They also offer up to $90 as a free joining bonus, which you can use for margin trading. The fee is one of the cheapest, and it is a no KYC exchange. However, to use a third-party service such as fiat trading, a user would need to get his KYC done on the platform.

Bybit has a significant market depth and liquidity. Therefore, it is an outstanding platform for margin trading.

For margin trading, Bybit offers margins of up to 100x. Further, Bybit has its insurance funds which can be used to recover losses in case a trader goes bankrupt. 

Bybit mobile app is something you would use most of the time for trading. The trading engine is blazing fast and is the fastest-growing margin trading crypto exchange. You can learn more about Bybit in my detailed review of Bybit.

Bybit is easier to use, even for new leverage trading traders. Bybit also offers 24*7 customer support (multi-lingual), which is one of the best. Bybit is based out of Singapore and has offices in multiple countries.

Get $90 Joining Bonus on Bybit 2. Binance

Binance is the world’s best cryptocurrency exchange with maximum liquidity, trading volume, and a number of users. Read our full review on Binance here.

The exchange supports margin trading, which a user can understand and execute in a few simple steps. To use Binance margin trading, you need to complete the identity verification (KYC), and your country should not be on the blacklist of Binance country. Currently, residents of the US cannot use the Margin Trading feature of Binance.

In addition to this, the exchange has a Margin Insurance Fund to save its overall liquidity. In case a trader goes bankrupt during margin trading, and his assets are not sufficient to pay off his debts, then the exchange will repay the trader’s debt from this Insurance Fund.

Margin trading can be used for both short as well as long positions. The exchange allows a margin of up to 10x on spot trading and up to 100x on derivatives trading. 

The interest rate on borrowed amounts changes frequently and can be referred to here. Further, you may pay margin trading interest in the form of BNB (Binance in-house token), which will save you a further 5% on interest.

Further, as an alternative to margin trading, Binance offers Leveraged Tokens. These tokens allow traders to put on short or leveraged positions without having to margin trade. For instance, a trader who wants to 3x short Bitcoin can buy a 3x short Bitcoin leveraged token on Binance.

Leveraged tokens are standard crypto tokens and can be listed on any spot exchange (even those that do not allow margin trading). Further, buying a leveraged token saves an investor from the hassles of maintaining a required margin with the exchange.

Start Margin Trading on Binance (Save 10% forever) 3. Kraken (Margin trading for USA Users)

Based out of San Francisco, Kraken is one of the largest cryptocurrency exchanges in the USA. It is the second-largest exchange (after Coinbase) in terms of trading volume and number of users that caters to the residents of the US. Read detailed Kraken review to learn more about this popular exchange.

Further, despite catering to US residents, Kraken offers a big variety of crypto tokens. Kraken offers margin on the spot as well as derivatives trading. The leverage allowed on these trades is up to 5x.

Currently, the following tokens are supported for Margin Trading on Kraken:


Kraken has listed eligibility criteria that determine whether a user is available for Margin Trading. You may refer to the same here. Further, the fee structure for margin trading can be referred here.

The trading fee for margin trading is also very reasonable. You can find more information on this here.

Start Margin Trading on Kraken 4. KuCoin

KuCoin is one of those amazing crypto exchanges which offers a wide variety of services and crypto tokens. Most of the low market cap gems can be found on this platform.

Because of an interactive user interface and high platform liquidity, I could not keep this platform from my best-margin trading crypto exchanges list.

KuCoin offers a margin of up to 10x on spot trading and up to 100x on derivatives trading. Further, like Binance and Bybit, Kucoin also offers a number of Leveraged Tokens, which are a better version of margin trading as they do not face the risk of liquidating assets.

The margin trading interest rate on KuCoin changes frequently and can be referred here.

Start Margin Trading On KuCoin 5. BitMEX Bitmex Exchange – Crypto Margin Trading

BitMEX facilitates margin trading for cryptocurrencies and has gained quite a lot of respect in the cryptosphere in a rather short period of time.

The team comprises experienced developers, economists, and high-frequency algorithm traders, which makes it a reliable product. The BitMex is not available for U.S.-based customers, however, you can bypass this using any VPN service.

The registration process on BitMEX is simple as you just need your email to get started, plus, you can also secure your funds using the 2-FA authentication feature that BitMEX provides.

At present, BitMEX offers margin trading for 6 cryptocurrencies out of which Bitcoin margin trades are the most famous. Here is the fee, as well as the leverage schedule for all the cryptocurrencies:

COINSLEVERAGEMAKER FEETAKER FEESETTLEMENT FEEBitcoin (XBT)100x-0.0250%0.0750%0.0500%Bitcoin Cash (BCH)20x-0.0500%0.2500%0.0000%Cardano (ADA)20x-0.0500%0.2500%0.0000%Ethereum (ETH)50x-0.0500%0.2500%0.0000%Litecoin (LTC)33.33x-0.0500%0.2500%0.0000%Ripple (XRP)20x-0.0500%0.2500%0.0000% Read: BitMex review Start Margin Trading On BitMEX 6. Phemex Phemex ExchangePhemex Exchange – Crypto Margin Trading

Phemex is one of the newer crypto exchanges on the list. The platform was established in November 2019 in Singapore by an ex- Morgan Stanley employee, Jack.

The exchange has captured a substantial userbase and trading volume within a short span. This is because of the platform’s promotional bonuses and high leverage. Phemex has more than 5 Million users with an average 24-hour trading volume of approx. $8 Billion.

Further, the exchange does not need customer KYC. Users can simply sign up, deposit assets, and start trading on the platform. However, for non-KYC customers, some services, bonuses, and benefits are not available. Please note that Phemex does not cater to US residents.

The exchange offers leverage up to 100x on derivatives trading. Further, the transaction fee for derivatives is 0.075% for Taker and – 0.025% for a Maker. This means that a Maker would receive a trading fee.

You can read more about the Phemex Fees structure here.

Start Margin Trading On Phemex 7. Exchange – Crypto Margin Trading

Founded in 2013 in London, is one of the oldest exchanges in the crypto industry. The exchange is registered with FinCEN (Financial Crimes Enforcement Network). Due to this, it applies appropriate KYC (Know Your Customer) and AML (Anti Money Laundering) procedures. offers more than 100 tokens available in more than 200 token pairs. Further, margin trading is available up to 10 times on these tokens.

The exchange is available in most of the states in the USA. However, margin trading service is not available for US residents.

The exchange charges a trading fee of 0.25% from takers and 0.15% from the makers. This reduces further with an increase in your trading volume.

You can refer to the Fees Schedule here.

Start Margin Trading On CEX Should I Margin Trade Crypto?

If you understand how margin works in trading, then you can do margin trading. Margin trading could be highly profitable if done right, and at the same time, one could lose capital fast if done without proper risk management.

Can Bitcoin be bought on margin?

Yes, you can buy Bitcoin on margin. All the above leverage exchanges allow you to buy Bitcoin on margin.

Which is the best exchange to short crypto?

These are the two best exchanges for shorting crypto:


Conclusion: Margin Trading Exchanges

So, this was my list of the Best Crypto Margin Trading exchanges out there. You must understand that although all these exchanges are suitable for trading, they are also a honeypot for hackers to attack.

Further, as these exchanges cater to a huge sum of money, this risk increases manifolds in the case of margin or leveraged trading.

Therefore, even if you simply day trade or margin trade, keeping your money on these exchanges should be done cautiously as it is not safe. The above exchanges provide extra security features such as 2-FA authentication, which you should never forget to use.

I shall reiterate that Margin Trading is a highly risky way of trading, and users should use their discretion.

Now it is time to hear from you: Do you trade cryptocurrencies? Do you indulge in margin trading? Where do you trade or margin trade cryptocurrencies?

Please share this article with your network if you find it useful!

Further suggested readings:

9 Best Cryptocurrency Exchanges In The World Best Smartphone Apps For Trading Cryptocurrencies On The Move 3commas Review: Is it Safe? How does 3Commas works?
- Harsh Agrawal
11 Best Cryptocurrency Exchanges to Buy Any Cryptocurrency [2023]

Here is a consolidated list of the best cryptocurrency exchanges with my comments:

ExchangeKey FeaturesCoinSutra RatingBinance• It offers a mobile app and the world’s largest exchange.
• If you need to pick only one, this is the best and #1 in 2023.
• It offers max number of crypto pairs and offers basic & advanced trading.
• A lot of exciting features, including Margin trading, Exchange coin (BNB), and many more10/10Bybit• Very popular with high volume.
• Ideal for margin trading.

• Read Bybit review9.8/10KuCoin• Simple and easy to use
• Many low-cap gems available9.5/10OKX• Popular Crypto exchange
• Extensive range of pro trading options
• Advanced trading platform9.4/10Bitget• Demo accounts available
• Wide range of cryptocurrencies9.3/10MEXC• Fast listing of new crypto projects
• Leveraged & Index ETFs9/10Kraken• Based out of the USA, and secure crypto exchange, existing for the last half a decade.8.8/10GMX• Decentralized Perpetual Exchange
• Simple Swaps7/10HTX• One of the largest exchanges of the crypto market
• High security and great customer support8/10AscendEX• Easy-to-use interface
• Use in-house token ASD to lower fee8/10

Slowly and steadily, Bitcoin and altcoins are getting attention from more investors all around the world.

And why not? These cryptocurrencies are time and again proving themselves to be a safe haven against the government’s inflationary policies.

Not only this, but now people have a variety of products to earn substantial passive income on their crypto assets. Moreover, some people make good money by pure speculation with short-term trading (i.e., buy low, sell high).

And for those who are just starting and need answers to some basic questions like:

Where do I buy such cryptocurrencies? What are the best cryptocurrency exchanges? Which crypto exchange is secure and user-friendly?

But before we talk about the best exchanges out there, I need to tell you that it’s not too late to get invested in cryptocurrencies. At the time of this writing, the Cryptocurrency market is at a market cap of $1.18 Trillion.

Note: This list starts from easy-to-use exchanges and moves towards some of the advanced exchanges.

10 Best Cryptocurrency Exchanges for Trading Cryptocurrency 1. Binance Binance Crypto Exchange

Binance is the world’s leading cryptocurrency exchange that concluded its ICO on 21st July 2017 and raised $ 15 Million. In addition to being a blazing fast exchange, The platform is designed for traders of all levels, i.e., from a beginner trader to an advanced trader. 

The platform offers an inbuilt crypto wallet which is ideal for storing Bitcoin and other cryptocurrencies for a short time. In addition, Binance has an Earn feature to deposit your crypto assets such as Bitcoin or USDT, and earn interest on your holdings.

Since its ICO to date, it has grown tremendously. It has become the leading cryptocurrency exchange globally in trading volume and availability of pairs of a token. It now has over 370+ cryptocurrencies listed on it, which are further provided in over 1300 pairs. Additionally, coin listing is increasing with every passing month.

Binance being a centralized exchange has taken a unique take to expand its business and provides a decent discount for day traders if they use BNB coins. BNB is the native currency of this platform, saving money on buying/selling any coin.

Binance is a global crypto exchange that is ideal for everyone and has the highest liquidity. Users from the USA can signup for Use the table below to pick the ideal Binance exchange for your jurisdiction:

Binance Global 🌎Sign up here
(10% trading fees off)For everyone (Users from all countries) except the USABinance USA 🇺🇸Sign up here
(Get $15)For the USA users

Binance’s fee structure is also unique.

It has a 0.1% standard trading fee that is already relatively less than its peers. You can even reduce your fee further if you pay your trading fee in BNB according to the below-shown structure.

Binance Discount Rate

To get started with Binance, you need to register using phone number or email and then follow the steps. Binance is one of the few exchanges that offer mobile apps for iOS and Android, and also an app for Mac.

Read: Binance Review: Features, Fees in 2023 (Beginner’s Guide)

Being using it for a while, I find it too easy to trade cryptocurrency while on the move. However, you can watch this video to learn how to use its mobile app.

They also have aggressive plans like multi-lingual support, mobile apps for both iOS and Android users, the Binance lending program,  and the Community Coin Per Month, etc for more adoption of their platform.

Binance Mobile App Create Account on Binance 2. Bybit – #2 Crypto exchange Bybit Crypto Exchange

Bybit is a specialized spot and crypto derivatives market exchange. Established in March 2018, Bybit is one of the fastest growing cryptocurrency exchanges, with more than 3 million registered users.

Further, the exchange offers a margin on the Crypto Futures market upto 100x. In case you are looking for an exchange for spot and derivatives trading, then Bybit is the best bet.

The platform is adding quality and trending coins every other day, and it might become the fastest growing crypto exchange of 2023. It is one of the best crypto exchanges which is secure and easy to use. It has an interactive web application and a mobile application for Android and iOS users.

Here are other top features of ByBit –

Crypto Lending feature Top of the line mobile app P2P Trading No KYC Withdrawal (1 BTC a day) Buy Crypto with Debit or Credit card Options Trading

For beginners, Bybit also has a feature of paper trading.

Read our full review on Bybit here.

Join Bybit (Get $90 bonus) 3. KuCoin – Leading Crypto Exchange KuCoin crypto exchange

KuCoin is another easy and hassle-free cryptocurrency exchange. KuCoin offers many popular and unique coins such as CHR, $KCS, and many others. Just like Binance, they offer a fully functional mobile app for Android and iOS.

To get started with KuCoin, you can deposit any crypto of your choice, ex: BTC, and start trading. I have been using KuCoin for the past two years, and they have constantly been adding extra features.

You can use Kraken to deposit and withdraw funds to any bank account globally. In my experience of using Kraken, bank transfers are quick, and support is excellent.

Overall, Kraken is one secure and trustable exchange that you should check out.

Create Account on KuCoin 4. OKX – Popular Crypto Exchange OKX Crypto Exchange

Founded in 2017 and registered in Seychelles, OKX is a reputed and innovative crypto exchange that is available for all users around the globe. Due to regulations, certain jurisdictions like the USA, Singapore, North Korea, and Syria are not allowed on OKX. You can find a complete list on their website homepage.

Here are some of the notable features of OKX :

Spot, Margin & Derivative Trading Copy trading Web 3.0 Integration (This is remarkable) NFT Marketplace  Shark fin (Gain USDT in any market condition) Buy/Sell Crypto with all popular payment options Add or withdraw funds using a Bank account P2P Trading $OKB – Exchange Native token to lower fees & Participate in governance

Many more features of OKX make it one of the best Binance alternatives. If you are a novice or experienced trader, you will find many tools and features to help you maximize your returns. 

Create Account on OKX 5. Bitget – Exchange with huge potential Bitget Crypto Exchange

Founded in 2018 and headquartered in Singapore, Bitget is an exchange with huge potential. It offers all the bells and whistles you could expect from a global crypto exchange that targets investors and traders. 

Here are notable features of Bitget –

Spot and derivative exchange Signed “Messi” as the Brand ambassador (Yeah! It is a big deal) Crypto-only exchange. It does not offer Fiat on-ramp or off-ramp Ideal for Crypto traders  Offers Copy trading (Supports spot market too) Attractive referral and affiliate program Create Account on Bitget 6. MEXC Global