Connect with us
[crypto-donation-box]

Blockchain

What the Average Consumer Knows About Cryptocurrency

Republished by Plato

Published

on

What the Average Consumer Knows About Cryptocurrency

Sometimes it is easy to forget that for large sections of the population, little or nothing is known about cryptocurrency and how it works? Even worse than no knowledge is incorrect assumptions of the facts surrounding what the opportunities and benefits of crypto are. Here we look at what the general public thinks about cryptocurrency so we may better understand how to challenge misinformation and educate the public on the truth.

Bitcoin

One thing we often hear is that Bitcoin is the only cryptocurrency, or rather it the only one that is known about, and even then, not very accurately. It often surprises people that others even exist. The big trick is convincing members of the public to trust cryptocurrencies, never mind just Bitcoin. Educating people will give them ar choice when investing, but the risk for any currency investment should be made clear.

ADVERTISEMENT

Is It Illegal?

Legality is a grey area in many aspects of business, finance, and life. However, one misconception is that cryptocurrencies are illegal and should be avoided. There are a few countries where this is true, and if you live in one of these, then be aware. It should be made clear that in the vast number of cases, it’s not the currency that is illegal, the crime is what is done with it. It is true that since crypto transactions are difficult to track, they can be used for illegal and distasteful activities. But you can murder with a tire iron, but that doesn’t mean changing a tire should be made illegal.

Computer Genius

Another erroneous assumption is that you need to be tech-savvy to use cryptocurrency. If you are looking to get into mining for currency, then yes, you will need some technical skills. But the general public can buy, sell, and use cryptocurrency, and anyone can exchange DOGE to BTC or any other crypto easily.

You’ll Lose Your Money

ADVERTISEMENT

Anything unknown in life seems like more of a risk than something that is known. It is for these reasons that cryptocurrency can seem too risky for large numbers of people. But any risk is fine, so long as it’s known and managed. It should never be claimed that investing is without risk, and care must be taken to research your investment.

It Will be Shut Down

This concern goes back to the discussion over the legality of cryptocurrencies. Indeed, certain currencies are not legal to use in certain jurisdictions, that is not a reason that we could see the whole system shut down. The decentralized nature of cryptocurrencies means that there is nothing to shut down. A government could pass a law to make use of all crypto illegal, but in practice, there is little that they would be able to do to enforce this. It would be down to the individual consumer to choose whether or not to obey these laws, for example, in India they are not legal currency, but that does not stop us from owning them.

This article has been contributed on behalf of Paxful. However, the information provided herein is not and is not intended to be, investment, financial, or other advice.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/sponsored-stories/what-the-average-consumer-knows-about-cryptocurrency/

Blockchain

All Eyes on Ethereum

Republished by Plato

Published

on


One Ether now costs more than US$3000. Did you ever think you’d see the day?

You gotta hand it to the crypto markets: in some ways they’re comically predictable. A month ago, Ethereum was everyone’s favourite whipping boy, a bloated, expensive under-achiever that couldn’t even double its 2017 all-time high. Lol what a weakling.

And with competitors like Cosmos, Solana, Polygon and Polkadot nipping at its heels, perhaps this was the beginning of the end for the network that gave us smart contracts, ICOs, ERC-20 tokens, DeFi, yield farming, NFTs and, to be honest, the entire idea that blockchain was a multi-functional and era-shaping technological breakthrough that you ignored at your peril.

How things have changed. On Monday Ethereum blasted through the US$3000 mark like it was barely there, throwing on an extra 15% while it was at it. The network is now worth a shade under US$400 billion, putting it on par with Mastercard and Walmart, and officially making Vitalik Buterin, the 27-year-old prodigy who created Ethereum, a bona fide billionaire. So, is this how the Flippening begins?

Network to net worth

Due to the speed with which things move in crypto, we tend to underestimate some of the metrics that actually speak to a technology’s success. The new shiny thing is almost always more exciting than some dusty old contraption built in the positively prehistoric year of 2015. Did they even have electricity back then?

But Ethereum stands out from almost all other blockchains in that it’s already being used, at scale, by millions of people and companies. While that may seem like Business 101 – get more customers, be more successful – when it comes to blockchain usage is a particularly powerful factor because of the way it harnesses network effects to improve the value of the system itself. Use it more and the whole system becomes more valuable, both financially and practically, for the network’s users, miners, stakers, investors and developers. Oh, and Vitalik, of course.

How far we’ve come

Ethereum’s issue has always been its inability to scale. If you can’t handle hundreds or even thousands of transactions a second, then you’re not really fit for purpose as a global computer. The result for Ethereum has been a year of increasing network congestion and brutally high transaction fees. Yet the fact that so much continues to be built and transacted on Ethereum tells you exactly how strong these network effects already are.

There’s also an increasing focus on three major changes to the Ethereum network due to arrive before the end of the year:

  • EIP-1559: Lifts one of DeFi’s major innovations in the field of ‘tokenomics’ by implementing a token burn system on every transaction. You use the Ethereum network, you burn some ETH, never to be seen again.
  • Optimism: due for a full launch in July, the Optimism sidechain should significantly improve the speed of Ethereum by leveraging largely incomprehensible processes such as ZK-Rollups and Sharding. It’s already being used by the Synthetix protocol, where it has saved users over $10 million dollars in transaction fees.
  • Ethereum 2.0: This is the big one, Ethereum’s transition from Proof-of-Work to Proof-of-Stake. It’s been coming for years, but the importance of the change cannot be overstated. Already more than 4 million Ethereum are being staked on the Ethereum 2.0 contract, offering an insight into how much ETH might fall out of circulation once the entire thing goes live (potentially in November).

In short, Ethereum is just getting started. The price might seem gaspingly high right now, but remember that Ethereum isn’t trying to be Walmart or Mastercard. It wants to be the thing that Walmart and Mastercard are built on – and that’s a prospect worth having a stake in.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blog.coinjar.com/all-eyes-on-ethereum/

Continue Reading

Blockchain

CARBON: A perfect avenue for showcasing talent

Republished by Plato

Published

on

Creative professionals sometimes find themselves figuring out where to showcase their creations and profit from them. 

It’s a tough situation to be in. But with CARBON, the dilemma is lessened. 

CARBON creates an avenue that gives creators both a place to show off their talents and a chance to earn money.

CARBON features an ecosystem of a global scale that integrates open finance, fashion, art, music, and non-fungible tokens (NFTs).

One of its objectives is to enable a community that can inspire, support, and reward professionals.

What the CARBON marketplace looks like

As what an ideal marketplace should be, CARBON has a lot to offer, helping emerging brands and artists have a shot even at the highest levels of competition they have to deal with.

Items related to fashion, art pieces, music, and digital assets such as NFTs are offered in the CARBON marketplace. A dedicated team will carefully select these products.

The market will also see exclusive collaborations featuring various artists and brands for physical commodities and digital items that will be dropped on a weekly basis.

As for its audience, they should prepare for a diverse experience brought by a market evolving into a global ecosystem.

About CARBON

CARBON was founded by Chad Pickard who also acts as its Chief Executive Officer (CEO). It is an open finance wallet and super ecosystem that is built for the whole world of fashion, art, music, and culture while also integrating digital assets through NFT offerings.

It has its native token, the $GEMS, and its wallet integrates Neobank functions like the financial technology company Revolut and a non-custodial smart wallet for decentralized finance (DeFi) and cryptocurrencies.

This integration allows users to hold fiat (government-backed) and digital currencies as well as NFTs in a single platform.

The wallet is linked to the market, giving users the ability to directly select items that they desire.

CARBON doesn’t just work as a marketplace where purchases can be made, but also as an avenue where professional creators get to showcase their talents and inspire others to promote their own. It provides them with a winning environment.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinerx.com/bitcoin/carbon-a-perfect-avenue-for-showcasing-talent/

Continue Reading

Blockchain

How Tokenplace can help crypto traders get the best buy and sell prices

Republished by Plato

Published

on

Any seasoned crypto trader knows that the price of a digital currency can vary across different exchanges worldwide.

Thus, one of the basic strategies for investing in digital currencies is to scout for the best buy or sell price and that’s where Tokenplace comes in.

Access to different crypto exchanges via one platform

To take full advantage of the price variance across exchanges, some traders often resort to opening accounts on different platforms. But Tokenplace eliminates this need because the platform allows one to access different exchanges worldwide.

This means that a user will only need his Tokenplace account and password to gain access to the entire crypto market. This is a lot simpler compared to having to main multiple accounts and passwords for other exchanges for different trading pairs.

Tokenplace is basically an online trading platform and exchange aggregator. With its automated order-splitting, orders are automatically broken up to ensure that traders get the best price for every coin they want to trade.

Easy to use and features-packed trading terminal

Tokenplace is also very appealing to newer investors because it is very easy to use. For instance, users will only need to access a single window for their deposits, withdrawals, trading, and exchanging.

The platform can be accessed from both desktop and mobile devices. Tokenplace’s onboarding and one-time registration process are also one of the quickest in the industry.

Tokenplace uses advanced algorithms for its multi-exchange order splitting feature. With this high-tech tool, users can get the best buy and sell price every time they trade.

Website: https://tokenplace.com/
Twitter: https://twitter.com/TokenplaceTOK
LinkedIn: https://www.linkedin.com/company/tokenplace

IMPORTANT NOTE: This is a paid press release, which BitcoinerX has posted as part of a commercial agreement. BitcoinerX is not responsible for producing this content and does not endorse the products or services mentioned. It is the responsibility of the company posting the press release to ensure the material is credible and accurate. BitcoinerX is not responsible for any damage or loss caused to anyone who chooses to use the company, product or services mentioned in the press release. BitcoinerX does not recommend using the information in the press release to form the sole basis of investment decisions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinerx.com/blockchain/how-tokenplace-can-help-crypto-traders-get-the-best-buy-and-sell-prices/

Continue Reading
Blockchain2 days ago

Mastercard adds 6 blockchain payments startups to accelerator program

Blockchain14 hours ago

Major Law Firm CMS Adds Stratis (STRAX) to its Legal Accelerator Program

Blockchain1 day ago

Starcoll To Issue Limited Edition Star Wars Collectibles as NFTs

Blockchain1 day ago

Pro traders buy the Bitcoin price dip while retail investors chase altcoins

Blockchain2 days ago

S&P DJI Releases Bitcoin and Ethereum Indexes

Blockchain2 days ago

eBay could add a crypto payment option, says CEO

Blockchain1 day ago

China’s Central Bank to Partner With Alibaba’s Ant Group on Digital Yuan

Blockchain1 day ago

Bitcoin Miners Moving Away from China, F2Pool Observes

Blockchain3 days ago

Iranian companies can now pay for imports with officially mined cryptocurrencies.

Blockchain1 day ago

‘This ain’t no game’ as DOGE briefly flippens Nintendo and takes #4 spot from XRP

Blockchain3 days ago

CBDCs Could Harm Bitcoin But BTC May Replace Gold as a Store of Value: Deutsche Bank

Blockchain2 days ago

The Reason for Ethereum’s Recent Rally to ATH According to Changpeng Zhao

Blockchain1 day ago

Here Is Why XRP Volume Has Recover Across Payment Corridors

Blockchain1 day ago

Bybit Launches Ether (ETH) Cloud Mining Service as Demand Booms

Blockchain1 day ago

Another XRP lawsuit update: SEC accuses XRP Holders of ‘reciting’ Ripple’s litigation position

Blockchain2 days ago

Qredo raises $11M in seed funding to launch new cross-chain asset management infrastructure

Blockchain2 days ago

Singapore’s largest bank posts tenfold crypto volume growth in Q1 2021

Blockchain2 days ago

S&P launches cryptocurrency indexes, debuting with Bitcoin and Ether

Blockchain2 days ago

eBay is Considering Adding Crypto Payments & NFT Sales

Blockchain21 hours ago

Up to 50% off transaction fees for ERC-20 tokens

Trending