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Earn Cryptocurrency – Comparing Various Passive and Active Earning Crypto Ways

Republished by Plato



How to Earn Cryptocurrency in 2021: 5 Popular Ways Compared

Are you looking to earn cryptocurrency in 2021?

You are in the perfect place!

2020 has been an excellent year for crypto, and the industry has been booming in 2021 as well, reaching an almost $1 trillion market cap by the end of January.

Since the space has gone through major changes recently, users can earn digital assets in numerous ways in 2021.

In this article, we have selected and compared the best methods to earn bitcoin this year and completed our calculations to determine the most profitable ones.

As a result, you will be able to pick the right method by the time you reach the end of this guide.

Let’s dive in!

Disclaimer: All our tests are theoretical and based on historical and projected market data. For all our examples, we will use a $10,000 investment and calculate how much we can make off it with each method.

What Is the Best Way to Earn Crypto in 2021?

Based on our tests, the most profitable methods to earn crypto rank in the following order:

  1. Hodling: 1900% ROI with moderate risks and easy difficulty
  2. Staking: 124.79% ROI with moderate risks and easy difficulty
  3. Trading: 16.19% ROI with low risks and moderate difficulty
  4. Lending: 6.98% ROI with low risks and easy difficulty
  5. Mining: -11.11% ROI with moderate risks and high difficulty

If you are willing to take some risks, holding cryptocurrency for longer periods is an excellent choice, along with staking. As it’s easy to get started, both staking and crypto hodling are beginner-friendly ways to earn digital assets.

For those looking for decreased risks, cryptocurrency trading – without risking too much capital and using stop orders to protect their positions (like in our example) – and lending are excellent strategies.

On the other hand, Bitcoin mining is only worth considering for those with access to cheap electricity or the necessary capital to set up a mining farm.

Based on our results, we believe that holding coins, lending on DeFi platforms, as well as digital asset trading – with a shift to social- and copy-trading, and simplification – will experience increased popularity in 2021.

While staking will remain a favorable option to earn cryptocurrency among users, we expect it to become less popular in the future.

On the other hand, due to the negative and very limited potential for profits as well as the high difficulty to get started, cryptocurrency mining won’t be so popular as before in 2021 and beyond.

In the meantime, we recommend taking a look at Nominex to get started with cryptocurrency trading, holding NMX coins, and digital asset staking.

1.      Bitcoin Mining

Risks: Medium
Earning Potential: Very low
Difficulty: Hard

Bitcoin mining is one of the oldest ways to earn crypto.

Cryptocurrencies based on the Proof-of-Work (PoW) consensus mechanism use decentralized blockchain networks in which miners leverage their computing power to maintain the ecosystem.

In exchange for verifying transactions and adding new blocks to the chain, Bitcoin miners receive block rewards and a share of transfer fees.

Bitcoin mining has been a lucrative business model to earn crypto in the past, but its profitability has decreased significantly in recent years.

The mining space has been dominated by large farms that have access to cheap electricity and loans to bulk-order new generation hardware.

Furthermore, the BTC hashrate has been hitting record-high levels lately (which indicates an intense competition between miners), while May’s halvening decreased the rewards from each newly mined block from 12.5 BTC to 6.25 BTC.

For that reason, Bitcoin mining has moderate risks while it can be difficult to get started for new users (as they have to learn how to set up and operate their equipment).

With that said, let’s see how much you can earn from mining Bitcoin in a year.

How to start mining?

To start out, we need to cover some upfront costs to purchase mining hardware. For our example, we will use Bitmain’s Antminer S19 Pro ASIC miner, which has a 110 TH/s hashrate, consumes 3,250 W, and costs $2,684 at the current market price.

Based on our budget of $10,000, we could buy nearly four S19 Pro miners.

Since that would cost $10,736, which exceeds our budget, we will adjust the hashrate and the power consumption to reflect the $10,000 investment (the last rig will have a hashrate of 80 TH/s while consuming 2,360 W for $1,948).

In addition to our rig, we also have to take the following expenses into account:

  • Electricity costs: The costs of the electricity the mining equipment uses when running. We will use the world average of $0.14/kWh for our example.
  • Mining pool fees: The fees mining pools charge for their service. We will use a 2% fee here, which we will deduct from our total revenue.

For our example, we will use’s mining calculator.

As a side note, we will utilize the current Bitcoin price to calculate our projected earnings and a difficulty increase of 2% every two weeks.

We used the average for all our rigs’ statistics and inputted them in the calculator (e.g., one miner costs $2,500 on average).

As you can see, we only made $16.95 in 365 days without even deducting the mining pool’s fees, which will provide us with a $-280.5 ($14,571.2 – $14851.70) result.

Furthermore, we didn’t take our mining rig’s costs into account. As new hardware models appear on the market every day, our equipment’s value will decrease over time. Let’s say we are lucky and we can sell each for $1,500 ($6,000 in total) after a year of use.

As a result, our mining operation would provide us with a $2,572 loss and a Return on Investment (ROI) of -11.11% ($20,571 revenue vs. $23,143 expense).

However, if we could operate our mining farm from a place with cheap electricity prices, our business could potentially become profitable. For example, with electricity costing $0.08/kWh, we could make a $3,793 profit ($20,571 revenue vs. $16,778 expense) with a 22.6% ROI.

Earn crypto with Trading

Risks: Varies (low in the case of our example)
Earning Potential: Medium
Difficulty: Medium

Cryptocurrency trading refers to the practice in which traders enter into quick, short-term positions to profit on digital asset price movements.

Crypto trading has been around since the industry’s early stages, with excellent products and services built over the years to benefit traders.

As a result, there are plenty of cryptocurrency exchanges where users can trade digital assets.

With that said, we recommend checking out the cryptocurrency trading platform Nominex that allows both beginner and veteran traders to make (potential) profits on the rising digital asset market.

The platform offers demo accounts where users can test their skills and expand their knowledge of the cryptocurrency market, while also providing 10 beginner-friendly video lessons in the Cryptotrading Camp.

Furthermore, users can earn a total of 1,120 USDT and 109 NMX tokens each day by participating in demo trading tournaments without any risks.

The risk level for cryptocurrency trading is based on the strategy users utilize. In our test, we will use only a small part of our capital for each position with stop orders in place to limit our risks. Also, we will only trade on the spot market without any leverage.

Since it’s very hard to predict the ROI of cryptocurrency trading, we will use a fixed model to calculate how much we can earn while trading crypto. For that reason, we have to take the following into account:

  • Win/loss ratio: The proportion of trades we win. In this example, we will win 50% and lose the other half of our trades.
  • Risk/reward ratio: It shows the potential rewards for every dollar we risk. Here, we will use a 3:1 ratio, meaning that we will gain $3 for every $1 we risk. With every winning trade, we will make 3% and lose 1% for every position where our strategies didn’t work out as expected (before deducting exchange fees).
  • Exchange fees: The fees the cryptocurrency exchange charges for each trade we make on the platform. It’s important to note that service providers deduct this cost instantly after entering into a position or exiting one.
  • Trading frequency: This refers to how often we make trades. Let’s place 30 trades a month (360 a year).
  • Average position size: The average amount we use to enter into a position. Let’s keep this at $500 (5% of our initial capital).

With the above factors, we can calculate our average profits and losses, as well as our total revenue, expenses, and ROI.

Comparing trading fees on exchanges

Compared throughout three different crypto exchanges (Nominex, Binance, Huobi), you can see the results in the following table:

Nominex Binance Huobi
Trading fees (taker) 0.1% 0.1% 0.2%
Average trading fees per winning trade $1.015 $1.015 $2.03
Average trading fees per lost trade $0.995 $0.995 $1.99
Average profits per winning trade $13.985 $13.985 $12.97
Average losses per lost trade $5.995 $5.995 $6.99
Total income $2,517.3 $2,517.3 $2,334.6
Total expense $1,079.1 $1,079.1 $1,258.2
Total profit $1,438.2 $1,438.2 $1,076.4
ROI 14.38% 14.38% 10.76%

Trading the native tokens of exchanges

Now let’s see how much we would make when holding the native tokens of each exchange (NMX, BNB, HT) and using them to cover our trading fees (for Huobi, we will hold 500 HT).

Nominex Binance Huobi
Trading fees (taker) 0.050% 0.075% 0.12%
Average trading fees per winning trade $0.5075 $0.7612 $1.218
Average trading fees per lost trade $0.4975 $0.7462 $1.194
Average profits per winning trade $14.4925 $14.2388 $13.782
Average losses per lost trade $5.4975 $5.7462 $6.194
Total income $2,608.65 $2,562.98 $2,480.76
Total expense $989.55 $1,034.32 $1,114.92
Total profit $1,619.1 $1,528.66 $1,365.84
ROI 16.19% 15.29% 13.66%

As you can see, while Huobi provided us the most discounts (since their fees are the highest among the three exchanges), we generated the most profits and the best ROI on Nominex.

Also if you obtain partner level ‘MAX’, Nominex grants the opportunity to trade with 0 commission, which means that ROI will increase even further.

To predict future earnings more precisely as well as expand your skills and knowledge, we recommend testing and implementing multiple trading strategies with Nominex’s demo account.

Since you can use up to 10,000 virtual USDT to trade cryptocurrencies, there are no risks involved.

If you are up for the challenge, be sure to participate in either a demo or a real trading tournament to win USDT and NMX tokens every day.

Hodling Crypto

Risks: Medium
Earning Potential: High
Difficulty: Easy

Similar to the previous methods, “holding” crypto is among the oldest and most popular ways to earn digital assets.

While cryptocurrency trading refers to quick, frequent, and short-term buys and sells, holding or investing in digital assets means a longer commitment for users (ranging from a few months to several years).

With this method, you purchase a cryptocurrency and hold it inside your wallet for moderate to longer periods before selling it.

It’s important to mention that digital assets can be subject to intensive price swings, which can increase the volatility and the risks for investors.

As we can’t provide a precise prediction on future digital asset prices, we will take the historical values of the cryptocurrencies we analyze into account.

In this section, we will show potential earnings ($10,000 investment) for Bitcoin (BTC) and two exchange tokens: Binance » Read more

” href=”” data-wpel-link=”internal”>Coin (BNB) and Huobi Token (HT).

As a bonus, we will also show some example calculations for Nominex’s native NMX token, which is being distributed to investors and traders at the moment.

Bitcoin Binance » Read more

” href=”” data-wpel-link=”internal”>Coin

Huobi Token
Initial price (December 2, 2019) $7,303 $15.23 $2.88
Final price (December 2, 2020) $19,180 $30.65 $4.03
ROI 162.63% 101.25% 39.93%
Total profits $16,263 $10,124 $3,993

The table above clearly shows excellent profits for all three coins, with Bitcoin taking the lead and BNB and HT closely following the cryptocurrency in terms of earnings.

Now let’s see how NMX has performed for early investors in terms of price.

Nominex started the official distribution of NMX in February with an initial value of 0.1 USDT. By now, the cryptocurrency’s price has increased to around 2 USDT, which means a 1900% ROI and $190 000 in profits for early adopters who invested $10,000 in the » Read more

” href=”” data-wpel-link=”internal”>coin in the beginning.

As a result, NMX’s gains outrank the other three cryptocurrencies we have analyzed earlier (in terms of investing).

To learn more about the rewards and potential earnings for holding NMX, we recommend taking a look at the following page on Nominex’s website.


Risks: Medium
Earning Potential: High
Difficulty: Easy

The Proof-of-Stake (PoS) consensus mechanism is becoming increasingly popular among cryptocurrency projects, especially with the launch of Ethereum 2.0.

Unlike the PoW model, PoS and its variants don’t require validators to leverage their computational power via mining rigs to maintain the blockchain.

Instead, validators lock up a specific amount of their tokens to verify transactions and add new blocks to the chain in a process called staking.

In exchange, stakeholders get rewards on their coins, which allows them to make a passive income (similar to DeFi lending) with the cryptocurrency they hold.

To maximize their chances, stakeholders can join staking pools and services where users combine their tokens to share the profits.

However, contrary to lending stablecoins, staking comes with higher risks for investors as the cryptocurrencies they lock up can be subject to increased price swings and inflation.

For the same reason, crypto enthusiasts have more earning potential with staking as their coins could increase in value while they are locked up.

In our example, we will use TRX for staking, the native token of the highly-scalable, DPoS-based (Delegated Proof-of-Stake) TRON crypto project, which has been widely popular among stakeholders.

Compare staking efficiency

We will compare earnings from TRX staking across three platforms: Nominex, Atomic Wallet, and Staked.

To calculate the projected profits from staking, we have to take the following factors into account:

  • APY: The annual interest stakeholders earn on the coins they lock up. This is 9% for Nominex (based on our results from the calculator on the crypto exchange’s website), 5% for Atomic, and 7.9% for Staked.
  • Price movements: The increase or decrease in the value of the digital assets users stake. We will base this one on the TRON price changes between December 2, 2019 and December 2, 2020.
  • Pool fees: Pools usually charge a percentage-based fee, which they deduct from the profits stakeholders earn. While there are no fees for staking on Atomic, Staked charges a 10% fee, and Nominex uses tiered commissions for its staking service based on the number of NMX coins users hold. For Nominex, we will compare three different fee rates, Starter (10%), Pro (6%), and VIP (3%).

Now let’s see the results!

Staked Atomic Nominex Starter Nominex Pro Nominex VIP
Fees 10% 0% 10% 6% 3%
APY 7.9% 5% 9% 9% 9%
TRX price change (one year) +100% +100% +100% +100% +100%
Total profit $21,422 $21,000 $21,620 $21,692 $21,746
Staking ROI 114.22% 110% 116.2% 116.92% 117.46%

As you can see in the above table, despite that it charges no fees for staking TRX, Atomic ranks at the last place in terms of profitability.

On the other hand, Staked secures a second place among service providers, while Nominex offers the best ROI for stakeholders, especially for VIP users.

In addition to all that, Nominex users can obtain rewards for team farming in the referral program and rewards for providing liquidity to the pool by staking NMX LP.

DeFi Lending

Risks: Low
Earning Potential: High
Difficulty: Easy

With the rise of the DeFi industry, cryptocurrency lending has become a reality.

By lending digital assets on DeFi services, users provide liquidity to the platform. In exchange, lenders generate a passive income on the coins they lend.

DeFi lending has gained widespread popularity in the crypto space due to the fact that it comes with minimal risks (especially if one lends stablecoins) while offering much better interests than traditional finance solutions (e.g., savings accounts, government bonds).

In our example, we will compare crypto lending on Compound, Aave, and dYdX for the DAI and USDC stablecoins, using the 30-day average of lending rates to predict our earnings for a one-year investment.

To predict how much we can earn, we have to look at the Annual Percentage Yield (APY) for each » Read more

” href=”” data-wpel-link=”internal”>coin we lend, which indicates the real rate of return on our investment (ROI).

Compound Aave dYdX
APY/ROI (DAI) 3.05% 4.23% 6.86%
APY/ROI (USDC) 3.67% 4.87% 6.98%
Total profits (DAI) $305 $423 $686
Total profits (USDC) $367 $487 $698

Providing a nearly 7% ROI to investors, dYdX is the clear winner for both DAI and USDC lending while Aave secures second place and Compound ranks third.

Disclaimer: We would like to emphasize that our examples and tests included in this article are based on simple predictions, and real-world strategies might provide different results. For that reason, we recommend everyone to do their own diligence and keep their risks at a minimum to earn crypto successfully in 2021 and beyond.

Passive ways to earn cryptocurrency in 2021!

Cryptocurrency technology invented several new roles and technical positions such as master nodes, lightning nodes, and even mining nodes that are capable of earning cryptocurrency passively and have an almost regular income. Additionally, in recent years several types of affiliate programs are introduced that users can join to monetize their funds passively, like lending or staking, which are discussed above.

In this section passive ways by which cryptocurrency investors can earn crypto and have a regular income would be introduced. These ways include:

–          Mining (discussed above in detail)
–          Staking (also discussed above)
–          Lending (also discussed above)
–          Running a Lightning Node
–          Affiliate programs
–          Running Masternode
–          Taking advantages of forks
–          Developing trading bots

Running a lightning network

In recent years several solutions are introduced for the problem of scalability in Bitcoin, Ethereum, and other major cryptocurrencies. Lightning networks include networks of transactions that are not directly applied to the main blockchain, so they are way faster than regular transactions. These networks provide bidirectional channels by which regular daily transactions could be accomplished faster than ordinary payments because they are stored on blockchain layer 2, and not mainnet.

However, this is a technical opportunity for people to run a network of transactions on another layer of blockchain, which provides liquidity as well as receiving transaction fees. What is amazing about this type of earn cryptocurrency is that you don’t even need to look at market news to make money from cryptocurrencies by occupying this status.

Affiliate Programs

Another technical event that offered new opportunities to earn cryptocurrency passively in recent years was the development of new major cryptocurrency exchanges. These enterprises have to manage to join a highly competitive market in which their competitors offered several types of advantages and technical improvements in advance. So new cryptocurrency exchanges try to offer affiliate programs by which they accelerate their growth in various regions of the world. People, social network influencers, and cryptocurrency content networks and communities are potential partners of these exchanges which are targeted by their affiliate programs.

While traders and those who are playing with their funds in the cryptocurrency market should have an active situation against market news and fall or peak of price, cryptocurrency exchanges and individuals joined to their affiliate programs can earn cryptocurrency without directly being under the effects of price changes. Users in these programs are only required to add some new users to the exchange network. However, in many cases, other requirements are having a network of cryptocurrency users with more than 2,000 users and/or being an influencer on social media networks with at least 5,000 followers/subscribers.

However, affiliate programs help those people who are active in various crypto forums and groups to make money by adding new members to a certain exchange customer database. Some of these programs, unlike what you can find on major exchanges like Binance and OKEx, are designed to be easy. While OKEx requires at least $100 purchase from all 10 invited persons to activate an affiliate program for a user, and Binance requires an already existing subscribers channel, Nominex users with only 30USDT can enjoy its affiliate program and earn cryptocurrency passively.

Running Masternode

Decentralized networks require some nodes that act somehow like a server: providing access to the network. These nodes are known as masternodes and are incentivized by various cryptocurrency networks to earn cryptocurrency passively only by providing technical resources for the network’s activity. However, to run a masternode users need to have a large technical investment.

However, with the development of cryptocurrency networks and the emergence of large technical facilities, the masternodes market is becoming harder and harder to join. Since it requires large technical investment and deep knowledge about crypto networks, it is not recommended for all users, particularly newcomers and beginners.

Taking Advantage of Forks

When a hard fork occurs in a traditional cryptocurrency network, users of the old blockchain receive identical amounts of cryptocurrency on the new blockchain. This passive earn cryptocurrency only occurs once in a few years but could provide a relatively large amount of passive income. As you might know, in recent years Bitcoin Cash hard fork provides such an opportunity for Bitcoin users.

To take advantage of this type of event, users should have large amounts of cryptocurrency on the old network before the hard fork takes place. That means only users with enough funds in the right time and place can make the most out of this type of passive earn cryptocurrency. But just consider those whales with thousands of Bitcoins in their wallets when they realized that luckily they own the same amount of Bitcoin Cash to understand how this type of passive income could be sweet!

Developing Trading Bots

Another type of providing passive income that is used by large firms and financial institutions includes developing trading bots that take advantage of many events in the cryptocurrency market. However, it requires a deep knowledge of both technical analysis and financial market mechanisms as well as programming and computer science, which are very unlikely to be found in a single person. Trading bots are simply online software that monitors the market and finds trading opportunities and executes trades according to profitable algorithms. While they sound just like a great opportunity for many programmers and technical analysts to employ such trading bots, their technical details are not so easy and they remain almost exclusively in the hands of large firms with professional technical teams.

However, trading bots are capable of making frequent trades and algorithmic trades with low profits, since they are capable of making more than hundreds and thousands of profitable trades in a single day.

Closing Thoughts

The cryptocurrency market is a new financial market that in the recent decade showed it is not a temporary trend and could be considered as a technical development that will develop in the course of time. Like any other market, the cryptocurrency market provides trading opportunities by which users can earn cryptocurrency and make profits. But it is not the end of the story as several types of roles and statuses are required to run cryptocurrency networks that are incentivized by earning cryptocurrency passively, without the need to participate in market tradings.

In this article of Nominex various types of earning cryptocurrency are explained in detail and evaluated by their different factors. Nominex is a new cryptocurrency exchange platform that provides many opportunities to earn cryptocurrency for its users in different forms. Users can join different types of affiliate programs to enjoy earning cryptocurrency passively.

Image by Miloslav Hamřík from Pixabay

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ShapeShift Launches Decentralized Trading Through THORChain, RUNE at ATH

Republished by Plato



In an announcement on April 13, the Switzerland-based non-custodial crypto company stated that it was now fully integrated with THORChain, enabling users to trade native Bitcoin with Litecoin and Ethereum for the first time.

The move is a big deal because it is the first time a decentralized exchange has enabled crypto asset swaps across different blockchains without the need for bridging technology or custodian controlled wrapped tokens.

THORchain Crossing the Chains

THORchain launched its long-awaited MCCN, ‘multi-chain chaos net’ platform on Tuesday, April 13 amid a great deal of hype from the crypto community including ShapeShift CEO Erik Voorhees.

Less than a day before the launch, Voorhees stated that it would be a huge deal for crypto.

“Native cross-chain decentralized exchange. Never been done before. Arguably the biggest event in crypto this week, though it may not be obvious for a year or two.”

THORchain uses its own native token RUNE as collateral and an intermediary, so those wanting to trade BTC for ETH, for example, will have the trade go via RUNE yet the end-user will not notice.


The revolutionary platform has been in development for three years and yesterday’s launch could bring big improvements to the rapidly evolving DEX space.

Voorhees continued to extol its virtues:

“We saw the power of this technology and wanted to bring it to our users immediately. This is a continuation of our commitment to offer users an easy, self-custody platform for their decentralized trading needs.”

ShapeShift DEX users, including those making trades via the new THORChain integration, can also earn FOX Tokens with every trade which enables eligibility for other rewards on the platform.

FOX Pumps 45%, RUNE Hits ATH

ShapeShift’s FOX token exploded on the news, pumping 45% to reach an intraday high of $1.30. The exchange-based token has made 180% over the past month and hit an all-time high of $1.60 on April 6.

THORchain’s RUNE token has also been on fire, surging 19% on the day to hit an all-time high of $14.60 at the time of writing according to Coingecko.

RUNE has doubled in price over the past fortnight and pumped a monumental 1,150% since the beginning of the year.


Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

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AAX Exchange reveals: HKD, SDG, and GBP Top FIAT currencies deposited in April

Republished by Plato



[Press Release – Singapore, April 13, 2021 ]

After the 2021 easter holiday, AAX recorded the highest amount of fiat deposits into the exchange with a total over 10 million USD in 10 days. The top three currencies are Hong Kong Dollar, Singapore Dollar and Great Britain Pound.

AAX supports three methods for depositing fiat, including peer-to-peer trading, fiat gateways supported by fiat gateway partners, and direct bank transfer powered by First Digital Trust, the digital custody arm of Hong Kong-licensed and publicly registered trust company, Legacy Trust.

“For many years, the on and off-ramps between crypto and fiat have acted as a bottleneck,” said AAX’s CEO, Thor Chan. “Now that the infrastructure is in place, we’re seeing more and more individuals transition into Bitcoin for its disinflationary qualities or seek exposure to altcoins for portfolio diversification.”

“While our peer-to-peer and Fast Buy platforms are effective in serving most retail traders, with First Digital Trust we’re also able to serve high net worth investors as well as traders that are looking for cross-currency arbitrage opportunities.”

AAX, a member of the London Stock Exchange Group’s institutional partner platform, gives its investors the same tools and market infrastructure as what institutional investors generally expect to see on traditional exchanges.

Investors of all levels will find that AAX’s platform caters to their every need. Its newly created fiat deposit services provided through First Digital Trust adds an extra layer of trust to ease any concerns new investors in crypto might have when entering the crypto space.

About AAX

AAX is a deep-liquidity and deeply trusted cryptocurrency exchange that is favored by more than half a million users. Powered by London Stock Exchange’s LSEG Technology, AAX offers crypto futures contracts, 50+ spot pairs, P2P fiat trading, savings products and top-grade API connectivity. AAX enables users to buy bitcoin easily via its OTC or Fast Buy platforms and supports over 20 fiat currencies.


Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

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Stellar-based gaming and collectibles platform Litemint to integrate DigitalBits

Republished by Plato



Non-fungible tokens or NFTs have stolen headlines the world over, plastered across both crypto and mainstream media. And, it’s no surprise. Beeple’s “Everyday’s – The First 5000 Days” sold at Christie’s for an astounding $69,346,250, asserting Beeple as one of the top three most valuable living artists.  This sale established two historical landmarks: the first sale of a wholly digital piece of art with a unique NFT, and the acceptance of cryptocurrency (ETH) as the form of payment. 

Paris Hilton recently released a comprehensive article on NFTs and their potential to empower creators. She also hinted at releasing her own. And this is only the tip of the iceberg, with musicians such as 3LAU and the King of Leons, as well as sports superstars like Tom Brady and Rob Gronkowski getting in on the action.  

The DigitalBits Project, first launched in 2017 with an initial focus on consumer digital assets, has since expanded to include branded stablecoins as well as the rapidly growing world of esports and gaming. The XDB Foundation, the primary contributor to the DigitalBits Project, is now looking to enter the NFT space, having recently sealed a partnership with leading NFT and Collectibles Marketplace, Litemint, a technology company specializing in the creation of unique experiences for crypto enthusiasts, collectors, and gamers. 

The introduction of NFT functionality to the DigitalBits blockchain introduces a wholly new vertical to the platform. As scalability issues continue to plague Ethereum, DigitalBits provides a welcome alternative to creators and users alike, allowing for significantly reduced gas fees and wait times. 

Built on Stellar since its inception in 2018, Litemint recently unveiled its NFT and Collectibles marketplace, expanding beyond its initial gaming value proposition. Litemint brings NFTs and digital collectibles to the online gaming experience, introducing unique elements such as true asset ownership and seamless transfer and tradeability not available within today’s leading online gaming environments. 

DigitalBits’ origins as a Stellar fork make it highly compatible with Litemint’s existing technology and allows for the activation of a number of potential synergies between the XDB Foundation and Litemint.  

“With its unique closeness to the mainstream, gaming industry and core compatibility with the Stellar technology, DigitalBits is a perfect match for our NFT and collectibles platform,” stated Frederic Rezeau, Founder and CEO of Litemint. “I am confident that together, provided our ability to execute on the open-source Stellar technology, we can leverage exceptional business opportunities with a seamless integration of DigitalBits and their consumer-oriented market.”

Other organizations are also looking to DigitalBits as an alternative for their NFT initiatives. The network is highly scalable, capable of processing upwards of 10 000 transactions per second, with transaction fees as low as 0.00001 XDB (less than a penny at today’s prices), and confirmation times ranging between 2-5 seconds. Although Ethereum is the current market leader for NFTs, the network’s inability to scale has resulted in exorbitant fees when minting and transferring NFTs, creating a huge barrier to entry. The integration of the DigitalBits network with platforms such as Litemint now provides an agile, low-cost alternative for creators and users, streamlining the issuance, transfer, and trade of NFTs.   

“I’m very excited to see the upcoming integration of the DigitalBits network into Litemint’s NFT and collectibles marketplace,” said Michael Gord, Managing Director of the XDB Foundation. “NFTs have the ability to add an entirely new layer to the user experience, allowing for unique activations that can be implemented across numerous different industries. I look forward to seeing the ongoing innovation that continues to emerge from this new asset class as more and more people begin to use NFTs.”

Litemint acquired Stellarport, a leading decentralized exchange, and service platform within the Stellar ecosystem, in January 2020, citing the massive opportunity created by bringing together crypto users and gamers, bringing unmatched dynamism to both platforms. The DigitalBits Project is an open-source protocol layer blockchain specializing in consumer digital assets, the development of which is led by the XDB Foundation. The XDB Foundation is a non-profit organization focused on driving growth and adoption of the DigitalBits blockchain and ecosystem.  

Disclaimer: This is a paid post and should not be treated as news/advice

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