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Top Cryptocurrency Exchanges When diving into the world of digital assets, picking the right cryptocurrency exchange is a big deal. I’ve delved into the top platforms by looking at rankings, transaction volumes, and their overall market presence. CoinMarketCap Rankings as of: 9/29/24 According to CoinMarketCap, exchanges are ranked based on factors like traffic, liquidity, trading volumes, and the reliability of reported trading volumes. Right now, they’re keeping tabs on 253 spot exchanges with a total 24-hour trading volume hitting around $747.86 billion. Here’s a quick breakdown of a few top exchanges: Exchange Name 24-Hour Trading Volume (USD) Binance 36 billion (approx.) Coinbase 2 billion (approx.) Gemini 175 million (approx.) Binance: Leading the Industry Binance is the big dog in the crypto exchange world, leading by trade volumes. It shot to the top, surpassing $36 billion in trades by early 2021 (CoinMarketCap). With a wide range of cryptocurrencies and advanced trading features, it’s a great choice for both newbies and seasoned traders. Binance is famous for its low trading fees and vast selection of digital assets, making it easy for users to explore various investment options. Gemini: A Growing Presence Founded in 2014 by the Winklevoss twins, Gemini is making waves in the crypto market. With trading volumes over $175 million, it’s positioned itself as a reliable exchange as detailed by CoinMarketCap. Known for strong security, regulatory compliance, and a user-friendly interface, Gemini is a solid choice. They even introduced the Gemini Dollar token, adding another layer to its ecosystem. For those just starting out, Gemini offers a straightforward and secure environment. Coinbase: US Market Giant Since its inception in 2012, Coinbase has dominated the U.S. market, boasting the largest trading volume among U.S. exchanges. With trading volumes over $2 billion in early 2021, it’s cemented its status as a market leader (CoinMarketCap). Recognized for its intuitive design and smooth onboarding, Coinbase is highly accessible for newcomers. Plus, it offers a variety of cryptocurrencies, supporting users as they diversify their portfolios. Exploring different platforms is crucial for anyone interested in trading. Individual preferences for features, fees, and securities should guide the choice of exchange. For more insights, check out our cryptocurrency exchange reviews and explore decentralized cryptocurrency exchanges for more options. Key Features of Exchanges While exploring various cryptocurrency exchanges, I discovered that certain features can greatly enhance the trading experience. Here, I’ll highlight key offerings from four exchanges: Huobi Global, Kraken, Crypto.com, and KuCoin. Huobi Global: Derivatives Trading Huobi Global is well-known for its extensive derivatives trading options, allowing users to engage in futures and options contracts. These offerings enable traders to speculate on price movements without actually owning the asset. This is particularly appealing for those looking to hedge investments or amplify gains. Key Features: Feature Description Derivative Options Futures, options, and margin trading available Advanced Tools Analytical tools for informed trading decisions User-Friendly Interface Easier navigation for both beginners and experienced traders Kraken: Advanced Offerings Kraken shines with its advanced trading features, offering a robust set of tools for those diving deep into the crypto market. From margin trading to futures and staking options, Kraken is perfect for advanced traders who appreciate a sophisticated trading environment. Key Features: Feature Description Margin Trading Up to 5x leverage available Staking Options Earn rewards on cryptocurrency holdings Security Measures Strong focus on securing user assets Crypto.com: Wide Cryptocurrency Selection Crypto.com impresses with a vast selection of over 250 cryptocurrencies for trading. This extensive offering allows users to easily diversify their portfolios. The platform also provides unique perks and rewards for Crypto.com Visa Card users, adding extra incentives for regular traders. Users can also utilize Cronos (CRO), the platform’s utility token, to lower fees and earn benefits. Key Features: Feature Description Variety of Cryptocurrencies Over 250 cryptos available for trading (Forbes) Rewards for Card Users Extra benefits for using the Crypto.com Visa Card Fee Reduction Pay trading fees with CRO for lower costs KuCoin: Altcoin Access KuCoin is recognized for its focus on providing access to a wide range of altcoins. This exchange gives users the opportunity to invest in lesser-known cryptocurrencies that may not be available on other platforms. KuCoin also caters to a global audience, offering various trading pairs and opportunities for individuals exploring alternative investments. Key Features: Feature Description Extensive Altcoin Selection Access to numerous altcoins for trading Low Trading Fees Competitive fee structure for various transactions User-Friendly Design Effortless usability for newcomers and experienced traders alike By examining these features, users can make an informed choice when selecting a cryptocurrency exchange based on their trading needs. Each platform serves different focuses, so it is essential to consider what aligns best with individual investment strategies. Exchange Security Considerations When I started my journey into cryptocurrency, one of my primary concerns was the security of the exchanges I considered. With numerous high-profile hacks in the past, it’s crucial to stay informed about the security landscape of cryptocurrency exchanges. Historical Exchange Hacks Many exchanges have experienced significant security breaches, impacting thousands of users and resulting in enormous financial losses. For instance, Coincheck was hacked in early 2018, losing over $534 million in NEM due to storing all tokens in one hot wallet without multisignature security. The infamous Mt. Gox hack saw the theft of 80,000 BTC in 2011 and another 850,000 BTC in 2014, combined losses amounting to around $29 billion in today’s value. Additionally, in 2018, Italian crypto exchange BitGrail lost 17 million NANO coins worth $170 million, attributed to vulnerabilities in its code. Even exchanges that are often deemed secure, like Binance, faced attacks. In May 2019, hackers stole approximately 7,000 BTC and sensitive user data from around 60,000 accounts, revealing vulnerabilities even within robust platforms. Exchange Year of Hack Amount Lost Cause Coincheck 2018 $534 million Hot wallet insecurity Mt. Gox 2011 & 2014 $29 billion Unencrypted wallet files BitGrail 2018 $170 million Code vulnerabilities Binance 2019 $40 million Malware and security flaws Importance of Security Audits Regular security audits are essential for any cryptocurrency exchange. These audits help identify vulnerabilities and ensure that the

A U.S. court approved FTX’s bankruptcy plan on Monday, which will see the majority of the crypto exchange’s customers get the equivalent of their 2022 losses, and then some. #Delaware #Judge #Approves #FTX #Estates #Bankruptcy #Plan

Cryptocurrencies are often associated with high-risk investments because of price volatility. However, there are low-risk investment products that revolve around stablecoins, which are blockchain-based digital currencies whose price is pegged to fiat or commodities, enabling them to reduce the volatility risk. Here we discuss how to generate interest or “yield” with USDC, the stablecoin that’s fully backed by US dollars. USDC USDT DAI BUSD ETH Aave 4.56% 4.08% 4.97% – 2.05% Compound – – – – – Nexo Up to 14.00% Up to 16.00% Up to 14.00% – Up to 8.00% BlockFi 8.50% 8.75% Up to 6.00% Up to 8.50% Up to 3.50% Kucoin 0.60% 100.00% – – 2.80% Binance 4.32% 3.85% 3.09% – Up to 1.50% Crypto.com – Up to 5.20% Up to 6.50% – Up to 5.50% What is USDC? USDC is a digital currency issued by US-based fintech firm Circle. It is backed by the US dollar, based on a 1:1 ratio and relies on a multi-chain infrastructure. After starting as an ERC-20 token, USDC has expanded to other major blockchain platforms, including Algorand, Solana, Avalanche, Stellar, and Tron. To maintain the peg, Circle keeps reserves consisting of USD cash, equivalents, and US Treasuries. The reserves are monitored every month by third-party auditor Grant Thornton. USDC’s stable peg and Circle’s reputation have driven demand for this digital dollar token, helping it become the fastest-growing stablecoin. It is currently the fourth-largest cryptocurrency, with a market cap of over $50 billion. USDC: Staking vs Lending Crypto staking and lending are two ways to profit off your crypto holdings without selling them. Moreover, these passive income mechanisms enable USDC holders to put their money to work, as most dollar stablecoins fetch greater interest rates than traditional savings accounts, especially amid today’s low interest rate environment. The main difference between the two is that USDC staking requires you to lend your digital dollars to a blockchain or crypto network for rewards, while USDC lending means lending it to borrowers in return for interest. USDC Lending Platforms The most straightforward way to earn passive income on USDC is to deposit it with centralized lending platforms, which provide some of the highest annual percentage yields (APY). Here are some of our top picks for lending platforms: Nexo Nexo provides an APY of up to 12% on USDC deposits, which is much higher than the average. In addition, Nexo is great for beginners as it has an intuitive interface. Investors prefer Nexo because it offers compound daily payouts and flexible earnings. The platform has $375 million insurance on all custodial assets covered by BitGo and Ledger. By using Nexo – the platform’s native token – you’ll benefit from more perks, such as better interest rates and more free crypto withdrawals. U.S. customers are no longer accepted. Hodlnaut Hodlnaut is a crypto platform that enables users to diversify their crypto investments with six top digital assets, including Bitcoin, Ethereum, and USDC. The APY on USDC deposits can reach up to 9.40%. Users can deposit their stablecoins anytime, with no lockup or deposit limits. Furthermore, they can receive weekly payouts and withdraw the funds at any time. The withdrawal fee is $10 USDC. Pros and Cons of Lending Platforms Pros Cons High yields – crypto lending platforms offer the highest yields on USDC deposits. Centralized – these are centralized platforms. You should do your due diligence before entrusting USDC funds and keys. Also, be ready to pass through KYC/AML verification. Low fees – to attract investors, crypto lending platforms charge minimal fees. USDC Lending on Exchanges Another way to earn interest on USDC lending is through centralized crypto exchanges, which use your funds to lend to traders. In most cases, you will have to lock your USDC funds for a certain period. Here are the most popular exchanges where you can put your USDC funds to work: Binance Binance is the largest crypto exchange by trading volume. It offers many crypto products besides its flagship exchange terminal. Binance Earn is a one-stop hub for its yield-generating possibilities, including earning interest on USDC. While it offers generous rates for most digital assets, the APY on USDC flexible deposits is only 1.20% currently, as Binance counts on other stablecoins for its ecosystem. Nevertheless, investors can rest sure their funds are safe. Kucoin Kucoin is a fast-growing crypto exchange founded in 2017. It has managed to expand its global presence and reach a valuation of $10 billion, according to its latest financing round conducted in May 2022. The company raised $150 million from a pool of investors, including Circle Ventures. Kucoin supports USDC lending to let users earn interest. Unlike other exchanges, Kucoin enables users to lend directly to counterparts, which decide the interest rate on their own. Thus, the APY figure can range from 1% to over 50%. Users can choose to lend USDC holdings for 7, 14, or 28 days. Crypto.com Founded in 2016, Crypto.com has become one of the most trusted cryptocurrency services. It offers exchange, non-fungible token (NFT), payment, and lending services to more than 50 million users worldwide. In addition, it boasts insurance coverage of $750 million on all assets. Last year, it was selected by Visa to settle transactions on its payment network. The platform’s Crypto Earn supports USDC and offers an APY of 8% on average. You can choose from flexible and fixed-term deposits, but the former would generate a lower yield. The interest rewards are paid weekly. Pros and Cons of Lending on Exchanges Pros Cons Large ecosystems – large crypto exchanges are one-stop solutions for all kinds of crypto operations that can be accessed conveniently. For example, you can easily exchange your USDC for another token, use it for staking or consider margin trading. Centralized – like crypto lending platforms, crypto exchanges are holding your funds in custody, which means higher risks than holding your keys by yourself with a hardware wallet. Lower yields – most crypto exchanges offering lending services provide lower yields compared to specialized crypto lending

Homepage > News > Business > Transitioning to Web3 with AWS and BSV blockchain The transition from Web2 to Web3 is top of mind for any business that wants to stay ahead of the competition, but the question is how. There are many factors to consider, especially what tech to use as plumbing, so the ability to scale into the future is there.  title=”YouTube video player” frameborder=”0″ allow=”accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share” referrerpolicy=”strict-origin-when-cross-origin” allowfullscreen> To make it easy for businesses to make this transition, the BSV Association has partnered with Amazon Web Services (AWS) (NASDAQ: AMZN) to test Web3-enabling tech and offer one-click Web3 solutions via the AWS marketplace. “We are all excited about partnering with AWS because that is our crucial strategic partner. We have a go-to-market strategy with the BSV blockchain,” Aleksander Gora, Market Adoption for BSV Association, told CoinGeek.  “The first step in this partnership was to establish all the key components of a network like SPV wallet and overlay services, stand-alone elements which could be deployed in the marketplace for developers with a one-click deployment,” he said.  While including solutions within the AWS marketplace will make it easy for developers to harness blockchain technology, it’s essential to use a highly scalable blockchain such as BSV to power the peer-to-peer economy within Web3. “We do have a scalable blockchain,” BSV Association’s Utilization Technical Team Lead Darren Kellenschwiler said of BSV. “And that’s important because there’s so many applications that could be using blockchain, but we always run into scaling limits when we try and build those on other blockchains,” he said.  “So if we can remove that restriction, then it frees us up to build micropayment economies that are predicated on the fact that you can do some simple task for a small fee, but you have to do that a million times a second to actually make any decent revenue over time,” Kellenschwiler added. BSV blockchain has the unique capability to scale massively due to its set-in-stone protocol and “Teranode” upgrade, which was tested in the cloud with AWS. To help educate businesses on BSV’s ability to scale, the BSV Association took part in the AWS Zurich Summit on September 4 with a booth, a speaking slot, and several reps roaming the floor.  BSV Association’s Siggi Oskarsson, Teranode Director, delivered the presentation at the event, and his main message was the importance of a scalable digital backbone when transitioning to Web3 and how Teranode fits in. “Teranode is a new implementation of the Bitcoin node software, and we’re trying to scale it out, so we’re taking the original node implementation and splitting it up into microservices so we can actually scale out every component separately,” he told CoinGeek after the presentation. “And we’ve managed to do a million transactions a second like we’ve talked about many times before and beyond,” he added.  AWS has played a vital role in the development of Teranode, and Gora elaborated on why this is the case.  “We realized how crucial it is to have a strategic partnership with someone who is as established as AWS. Infrastructure cloud providers is a vital key player to make any technology being adopted on a global scale,” he said. In addition to providing the ideal testing environment for the Teranode team, AWS will also be hosting the BSV blockchain overlay service, which can be considered the layer between Teranode and the end user.  “For overlay services in SPV wallet, it’s one-click deployable on AWS, and it’s aligned with all the requirements called the FTR requirements coming from AWS to be distributed within the AWS marketplace,” explained Thomas Giacomo, Utilization Director for BSV Association.  “So for the different application builders that want to leverage the BSV blockchain, they will take our open source components—overlay services in SPV wallet—and then in one click, they can deploy it on AWS services,” he said. So, what is SPV? End users will have peer-to-peer communication through SPV or “Simplified Payment Verification.”  SPV wallets will facilitate all the micropayments bouncing around in a Web3 world, and we need many of these micropayments to generate significant revenue. “SPV allows us to scale the blockchain network, so instead of relying on all of us running a node, we just interact with SPV,” Connor Murray, BSV Association’s Director of Stewardship, told CoinGeek. “With massive scalability, you have low fees that enable millions of transactions per second at low cost, and it enables a more peer-to-peer world, which is our vision of transitioning from Web2 to Web3,” he said. Watch: Web3 is natural progression of technology title=”YouTube video player” frameborder=”0″ allow=”accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share” referrerpolicy=”strict-origin-when-cross-origin” allowfullscreen> #Transitioning #Web3 #AWS #BSV #blockchain

Understanding Cryptocurrency Exchanges Introduction to Crypto Exchanges When I first wanted to venture into cryptocurrency, I discovered that cryptocurrency exchanges are platforms that allow me to buy, sell, and trade digital currencies. These exchanges operate similarly to stock exchanges, where I can purchase cryptocurrencies at market prices. Once I buy coins, I need to store them safely in digital wallets or third-party services, such as Coinbase (Investopedia). This understanding laid the foundation for my exploration of different platforms and their offerings. Importance of Crypto Exchanges Crypto exchanges play a crucial role in the cryptocurrency ecosystem. They serve as the bridge between traditional currencies and digital assets, facilitating transactions for investors and traders like myself. One of the significant benefits of using these exchanges is the liquidity they provide, enabling me to convert my investments into cash or other assets easily. Moreover, I learned that the quality of a cryptocurrency exchange can significantly impact my trading experience. Factors such as fees, supported cryptocurrencies, and security features are essential to consider when choosing where to trade. For those looking to compare platforms, a helpful resource is our cryptocurrency exchange comparison, which highlights various features and services offered by the leading exchanges. Here’s a brief overview of why cryptocurrency exchanges are important: Feature Benefit Liquidity Ability to quickly buy and sale cryptocurrency Accessibility Easy access for users to trade at any time Variety Wide range of cryptocurrencies available for trade. Price Discovery Establishes market prices through buying and selling As I navigate my investment journey, understanding the importance of these platforms helps me make informed decisions that align with my financial goals. I also learned to be cautious and informed by checking reviews and insights about different exchanges, ensuring I choose among the most secure crypto exchanges available. Evaluating Crypto Exchange Security When I think about diving into the world of cryptocurrency exchanges, one of the most critical aspects to consider is security. With so much at stake, understanding the measures exchanges implement to protect users, as well as the potential risks involved, is essential. Security Measures in Crypto Exchanges Security Feature Description Two-Factor Authentication (2FA) Requires two forms of verification for account access. Cold Storage Keeps the majority of funds offline to minimize hacking risks. Encryption Protects sensitive data through encryption protocols during transmission. Regular Security Audits Conducts regular audits to identify vulnerabilities within the platform. Insurance Fund Some exchanges maintain an insurance fund to compensate for losses due to hacks. Most reputable cryptocurrency exchanges incorporate advanced security measures to safeguard users’ funds and sensitive information. Here are some common security features I often look for when evaluating exchanges:These features help create a safer environment for trading, but it’s still vital to stay informed about the specific practices each exchange follows. Risks Associated with Crypto Exchanges Despite enhanced security measures, risks remain present in the world of cryptocurrency exchanges. Users should be aware of the following risks: Hacking Incidents: Exchanges can be targets for hackers. Some high-profile hacks have led to substantial losses for users. Regulatory Changes: Recent rulings, such as the U.S. courts declaring cryptocurrencies as securities for institutional buyers, showcase how regulations can shift, impacting exchange operations and user access. Phishing Attacks: Fraudulent schemes often trick users into providing account information. Market Volatility: Prices can fluctuate dramatically within brief periods, leading to potential financial losses. Understanding these risks can help me make more informed decisions. I can also compare my options by visiting cryptocurrency exchange comparison to better grasp which exchanges align with my security requirements and risk tolerance. Each of these factors plays a crucial role in ensuring a secure trading experience. It’s wise to weigh these aspects carefully as I navigate my investment journey. Factors to Consider When Choosing an Exchange Selecting the right cryptocurrency exchange is a crucial step in my investment journey. There are several factors that I consider essential when choosing an exchange, particularly user-friendliness and the variety of supported cryptocurrencies. User-Friendly Platforms A user-friendly platform can make a significant difference, especially for newcomers like me. The ease of navigation, clear layout, and intuitive interfaces enable a smoother trading experience. I look for exchanges that provide educational resources and customer support, as these can help me understand how to use the platform effectively. Different exchanges cater to various skill levels. For instance, platforms like Coinbase are recognized for their beginner-friendly environment. They offer a hassle-free way to start trading cryptocurrencies, which is particularly appealing for someone just entering the crypto market. The importance of a user-friendly interface cannot be overstated—having the right features and tools readily available makes the investment process more efficient. Exchange User Rating Key Features Coinbase Best for beginners Secure crypto storage, staking programs Gemini 4.6 Advanced tools, focus on crypto-to-crypto trading Crypto.com 5.0 Overall experience and selection Supported Cryptocurrencies The range of supported cryptocurrencies is another critical factor. I want to ensure that the exchange I choose allows me to invest in a variety of digital assets. Some exchanges specialize in certain cryptocurrencies, while others provide a wider selection. A platform like Coinbase allows trading in numerous major cryptocurrencies, which is ideal for me as I look to diversify my portfolio. On the other hand, exchanges like Gemini focus more on advanced trading in specific assets, which can be beneficial for those looking to explore crypto-to-crypto trading options. For ease of reference regarding the number of supported cryptocurrencies and respective trading fees, this table summarizes some popular exchanges: Exchange Supported Cryptocurrencies Trading Fees Coinbase 100+ 0%-3.99% Gemini 50+ 0.5%-3.49% Crypto.com 250+ 0%-2.99% Understanding these factors helps me make informed choices about which cryptocurrency exchanges are best suited for my investment goals. For more detailed comparisons, I can check out our comprehensive cryptocurrency exchange comparison to better evaluate the options available. Reviewing Top Crypto Exchanges In this section, I will review three prominent cryptocurrency exchanges: Binance, Coinbase, and Gemini. Each of these platforms has its own strengths, fees, and features, making them suited for different types of traders. Binance Exchange Review

Bitcoin may have bottomed at $60,000 earlier this week, and the Fed easing into a strong economy points to more upside, Will Clement said. #Tokens #Lead #Crypto #Rebound #Strong #U.S #Economy

Crypto staking has continued to explode in popularity, as investors can earn more interest (also called “yield” or “rewards”) on their crypto, by staking the most popular Proof of Stake tokens. As you can see below, the interest rates far exceed those of traditional banks. (If you’re just getting started, see our Guide to Staking Crypto here.) Most investors want to know which crypto is best for staking, and where can you find the best rates. Our editors rate and review the top tokens and staking platforms weekly, keeping this chart your best source of information on best staking tokens and best staking rates. Ethereum (ETH) ETH has the potential to become the best crypto for staking. Investors have already locked in $21 billion to the Ethereum 2.0 staking pool. That’s mainly due to the confidence Ethereum inspires: it has a massive ecosystem and widespread adoption. However, there is still risk involved in staking ETH. Staking ETH today will mean that it is locked until the “Shanghai” upgrade, which is currently scheduled for 2023, but could take longer. If you have a few ETH in cold storage and don’t have any plans to cash in for a few years, getting into a staking pool might be a good option. After all, this is one crypto we believe in for the long haul. Binance Coin (BNB) Binance is the largest crypto exchange in the world. Its native token, BNB, is an excellent long-term staking option due to its growth potential. It is also incredibly easy to stake using the Binance platform, with a user-friendly interface. The minimum threshold for delegator staking is extremely low at BNB 0.0001 ($0.048). The BNB Vault on the Binance platform is a good choice for beginners wanting to stake BNB. Cardano (ADA) Cardano launched in 2015 as a Layer 1 blockchain platform that competes with Ethereum. It shares many features with ETH, including smart contracts, with the added advantage of a PoS algorithm baked in from the beginning. Over the years, Cardano has grown into one of the top Layer 1 blockchain platforms, with a market cap of $37 billion as of this writing. Granted, it is small compared to BTC and ETH. But Cardano, and its companion token ADA, have a strong community and a forward-thinking development roadmap. The APR is also quite competitive, and there are frequently no lock-up periods. Solana (SOL) Solana positions itself as a younger, more polished version of Cardano and Ethereum. As a result, the Layer 1 has impressed with a meteoric rise since its launch in April 2020: at this writing, it sits in the top 10 most valuable cryptos with a market cap of nearly $12 billion. With a unique “Proof of History” consensus mechanism and excellent support for smart contracts, DeFi, and NFTs, Solana has attracted serious interest from developers and institutional investors. Like its competitor Cardano, SOL is a Layer 1 to watch. This makes it a solid choice for crypto staking, with competitive APRs. In addition, there is no minimum amount of SOL tokens required for delegator staking. Algorand (ALGO) Algorand is yet another Layer 1 aiming to become an “Ethereum killer.” It has a solid dev team led by a respected MIT professor, smart contracts, and an improved consensus protocol called Pure Proof of Stake. Algorand’s native token, ALGO, offers competitive interest rates. And Algorand’s speed and low cost may make it an investment worthy of holding long term. Tezos (XTZ) Don’t let its market cap of “only” $1 billion fool you: Tezos has been around for longer than most tokens. But internal struggles and instability hampered its growth after a successful ICO in 2017. The APR on Tezos’s XTZ token is quite reasonable. In addition, it has an asking price of about $2 as of this writing, and no minimum stake or lock-up period for delegators, making it a possible choice for newcomers to crypto staking. Celo (CELO) Celo has a strong focus on DeFi, smartphones, and sustainability. Its Valora payments app has gained widespread acceptance in mobile remittance. With strong backing from several high-profile investors, Celo is a crypto startup with a potentially exciting future. With a low percentage of tokens staked, Celo may be an excellent option for crypto staking. It has a relatively high APR at this writing, with no minimum stake and a short lock-up period of 3 days. Mina (MINA) With a total blockchain size of just 22kb, Mina is has of the lightest crypto codebases on the market. (In comparison, the bitcoin blockchain is currently at 350GB and growing.) The focus on minimalism holds promise for faster crypto transactions, an area where the bigger digital assets struggle. Originally called Coda Protocol after its launch in 2017, Mina was rebranded in 2020 and has a high staking APR. Avalanche Being one of the youngest cryptocurrencies on the list, Avalanche prides itself on being one of the fastest smart contract cryptos in the blockchain industry, as measured by time-to-finality. Avalanche stands at a market cap of approximately $5 billion today, and ranks as one of the top 20 cryptocurrencies. Avalanche has the potential to be one of the leading smart contract platforms. Given its proof-of-stake model, suite of Defi applications, and big-name backers, the currency might be at the top of the game in due time. The trend of recent private equity tokenization on the Avalanche blockchain can even allow investors to begin private market investments without specialized connections or loads of cash. Polkadot Born with the intention of rivaling contemporaries like Ethereum, Polkadot stands as the 11th cryptocurrency by market cap, with figures as high as $7.6 billion. Its ability to support Parachains (short for ‘Parallel Chains’) is attractive to developers because it allows them to run blockchains alongside one another to speed up transactions. Owing to these technical innovations, Polkadot can often return high interest rates. Along with a greater risk, there is potentially a lot for investors to gain. Polkadot’s new on-chain governance model called

Homepage > News > Business > Should money be the number one use for Bitcoin? On this episode of CoinGeek Discussions on X Spaces, the central topic was ‘Should money be the number one use for Bitcoin?’ Hosts Alex Vidal and Zach Weiner are joined by Marquez Comelab from BSVSearch.com and numerous other guests to discuss this topic. Who is Marquez Comelab, and what is BSVSearch? Comelab is a YouTuber and BSV entrepreneur who started BSVSearch.com to help people find businesses that accept BSV and to create a place where people can buy and sell using it as electronic cash. He tells his Bitcoin story; he heard of it in 2015 when a Bitcoiner talked about how his family’s savings had been wiped out multiple times by the hyperinflation in Argentina. However, he didn’t buy until 2017. Then, using it for the first time, he realized it was too slow ever to be global money. Comelab went digging and soon discovered the block size wars and Bitcoin scaling debate. He realized he had been trying to use small-block Bitcoin, and his bad experience doing so convinced him that big blocks were probably the way. When BCH and BSV split, he followed BSV and lost interest in all other coins. Using Bitcoin as money for everyday life Elaborating on a recent X post in which he said BSV will become worthless unless we use it, Comelab delves deeper into his theory that BSV must be used for everyday things such as money. With the protocol restoration and scaling with Teranode, it’s ready, and it’s time to start using it as intended. Doing this removes the need for onramps and offramps, which is an added benefit. Weiner wonders whether using BSV at scale will cause the price to increase so much that sub-cent transactions become impossible in fiat terms. Comelab responds that this could be an issue, but it’s something to consider more deeply later. BSV’s survival is at stake right now, and we’re so far away from this particular problem that there’s no point worrying about it. We have no idea what will happen between now and then, so solutions may arise. BSV Panama believes that the fees should go down as we scale. One reason for having so many transactions in a block is to allow transaction fees to drop even further, so the issue Weiner brought up would resolve itself if that’s the case. Comelab asks BSVers to do what they can to speed up adoption right now. We can wait for enterprises, court cases and everything under the sun, but in the end, the one thing we can all control is using BSV for whatever we can and encouraging our favorite merchants to accept it. Food and drinks are a perfect example of small, casual transactions for BSV in everyday life, he says. Since everyone has to eat and drink, which can be relatively small transactions, merchants may be willing to take a risk and accept BSV. We can also use it for content tipping – that’s a perfect use case for micropayments. Each piece of content can even have a unique wallet address so creators can see what’s gaining the most tips. BSV Panama agrees with using the coin directly, but he says it must coexist with fiat currencies. Governments will soon stop it if it starts to erode the value of their national currencies, and they have already done so in several countries, including Panama. Comelab agrees, saying we don’t have a choice since BSV is such a small community. More about BSVSearch.com Comelab’s contribution to speeding up BSV adoption is BSVSearch.com. It’s a site where people can buy and sell various items in BSV and find local establishments that accept them. It’s small now, but he hopes it will grow as more people learn about and adopt the real Bitcoin. Since transitioning to a BSV economy will take time, BSV Search is a starting point. BSVers officially have a place to buy, sell and search for businesses that accept it! Check out the conversation here to hear more about BSVSearch.com, fostering BSV adoption, and the possibility of another bull run. Watch: Reviving the true value of blockchain—utility title=”YouTube video player” frameborder=”0″ allow=”accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share” referrerpolicy=”strict-origin-when-cross-origin” allowfullscreen=””> #money #number #Bitcoin

Futuristic Take on Decentralized Cryptocurrency Exchanges Understanding Cryptocurrency Exchanges In navigating the world of cryptocurrency, understanding the types of exchanges available is vital. Each type serves different needs and preferences for cryptocurrency traders and investors. Centralized vs. Decentralized Exchanges source: https://masterthecrypto.com/decentralized-exchanges-guide-popular-dex/ Centralized exchanges (CEXs) like Coinbase and Binance act as intermediaries for users, facilitating the trading process. These platforms often offer user-friendly interfaces, making it easy to buy and sell cryptocurrencies, especially for beginners. However, there’s a significant caveat: users do not have direct access to their private keys when storing cryptocurrency on these platforms, which could expose them to risks such as hacks and bankruptcies. On the other hand, decentralized cryptocurrency exchanges (DEXs) allow for peer-to-peer trading without the need for a middleman. They utilize smart contracts on blockchain networks, enabling direct transactions between users’ wallets (SoluLab). While DEXs uphold the principles of decentralization and user autonomy, they may lack the ease of use and customer support features often found in centralized exchanges. Feature Centralized Exchanges (CEXs) Decentralized Exchanges (DEXs) Control of Private Keys No Yes User Interface User-friendly Often less intuitive Security Risk High (risks of hacks/bankruptcy) Lower (but vulnerable to smart contract issues) Regulatory Compliance Yes Varies Customer Support Yes Limited or absent Importance of Private Keys Private keys are a crucial component of anyone’s cryptocurrency trading journey. These unique keys grant access to one’s digital assets. In centralized exchanges, since the platform holds the private keys, users relinquish direct control over their assets. This can lead to significant issues if an exchange becomes compromised or faces operational challenges (CoinLedger). Decentralized exchanges empower users by ensuring they hold their private keys, allowing for complete control over their cryptocurrency. This independence is appealing to many seasoned traders who prioritize security and control. However, managing private keys comes with its responsibilities, as losing a private key often results in the irreversible loss of access to assets. The decision to choose between centralized or decentralized exchanges hinges on individual preferences and risk tolerance. Those leaning toward user-friendly experiences may prefer centralized platforms, while individuals focused on security and control may opt for decentralized options. For more comparisons of various exchanges, check out our cryptocurrency exchange comparison and cryptocurrency exchange reviews. Decentralized Exchange Features Decentralized cryptocurrency exchanges (DEXs) offer unique features that set them apart from traditional exchanges. Understanding these features can help individuals make informed decisions when trading. Peer-to-Peer Trading One of the most significant advantages of DEXs is the ability to engage in peer-to-peer trading without the need for a middleman or centralized authority. This is achieved through the use of smart contracts on blockchain networks, enabling direct transactions between users’ wallets (SoluLab). Here is a quick comparison of the peer-to-peer trading process versus traditional exchanges: Feature Peer-to-Peer Trading (DEX) Traditional Exchanges Mediator No Yes Transaction Speed Instant Varies Control of Funds User retention Held by the exchange Privacy Level High Low This direct trading mechanism not only provides more control over funds but also enhances privacy, as users can trade without disclosing personal information. Liquidity and Transaction Times Liquidity refers to the ease with which an asset can be bought or sold in the market without affecting its price. DEXs generally experience varied liquidity levels depending on the trading pairs available and the volume of traders. Since many DEXs have lower fees compared to centralized exchanges, they attract frequent traders, which can improve liquidity (SoluLab). Transaction times on DEXs can be swift but may also depend on the blockchain network’s traffic. For instance, Ethereum-based DEXs like Uniswap face gas fees that can sometimes increase transaction times and costs (Coinbase). It is essential to consider the following information regarding transaction efficiency: Exchange Type Transaction Time Typical Fees DEX Generally faster 0.3% on Uniswap Centralized Varies, could be delayed Higher fees Overall, the advantages of peer-to-peer trading and potential for lower fees make decentralized exchanges an appealing option for those looking to invest or trade in cryptocurrency. Exploring DEX options further can help individuals find the best platform to suit their trading needs. For a detailed comparison of different platforms, visit our cryptocurrency exchange comparison. Benefits of Decentralized Exchanges Decentralized cryptocurrency exchanges (DEXs) offer several advantages that can enhance the trading experience for users. Two significant benefits are enhanced security and user privacy, as well as a reduction in counterparty risks. Security and User Privacy One of the most appealing features of DEXs is the increased security they provide. Since these exchanges operate in a decentralized manner, users retain control over their private keys. This means that I do not have to deposit my cryptocurrency into an exchange account, which can be a potential target for hackers. Instead, I can engage in peer-to-peer trading directly between wallets, reducing the risk of losing my funds due to a breach on the exchange. Additionally, DEXs prioritize user privacy. Unlike centralized exchanges, which usually require users to provide personal information for verification, DEXs allow me to trade without needing to disclose sensitive information. This anonymity can be particularly appealing for those who want to maintain their privacy while trading. Feature Decentralized Exchanges Centralized Exchanges Control over private keys Yes No User privacy High Low Risk of hacks Lower Higher Reduced Counterparty Risks DEXs significantly minimize counterparty risks. In traditional exchanges, there is always a possibility of default from the other party involved in the trade. However, on decentralized exchanges, trades occur directly between wallets. This direct interaction reduces my exposure to the default risk of a counterparty (SoluLab). Furthermore, DEXs can often offer lower fees due to their lack of intermediaries. As a frequent trader, this cost-effectiveness is attractive, allowing me to maximize my returns without incurring high transaction costs. For a comparison of various options, you can check our cryptocurrency exchange comparison page. The combination of enhanced security, user privacy, and reduced counterparty risks makes decentralized cryptocurrency exchanges an appealing choice for many users in the crypto space. Popular Decentralized Exchanges Decentralized cryptocurrency exchanges (DEXs) provide a unique trading environment by allowing me to interact directly with

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