Bitcoin

When I first heard about NFTs (Non-fungible Tokens), I had a similar thought as the one I had when first hearing about Bitcoin, which was ‘that doesn’t make sense’ and ‘it won’t last.’ With Bitcoin, it is years later, and it is still going strong, having reached a peak of over $63,000 in April 2021 per token. As of the time of this writing, however, we have seen a major dip in the market, and Bitcoin has recently seen a low of $20,000 per token. But we have seen dips in the past, and it recovers.Like Bitcoin and cryptocurrency mining, with NFTs I waited and watched before deciding to do some more research and seeing what all the fuss is about.What are Non-fungible Tokens?Items that are fungible can be replaced by another one of the same. For example, a Bitcoin is fungible because one Bitcoin is equal and can be replaced by another Bitcoin. One US dollar is fungible because one dollar is equal to another dollar. When buying a photograph from a stock photography site, that photograph is fungible because someone else could purchase the same picture for the same price, and people would not have any way of knowing the difference between each image.An item that is non-fungible means it is unique and cannot be replaced by something else. A non-fungible token is a data unit stored on a blockchain that certifies a digital asset as unique and having no equal. An NFT can only have one owner at a time. So, if I make a piece of digital art and create an NFT, that digital record will be stored in the blockchain linked to that digital artwork, so that no matter where that piece of art is or if it is copied, only that one is the…

People can select domain names that are convenient to remember for their wallet addresses because of the Ethereum Name Service (ENS). The secret behind this technology is utilizing a computer to know about this domain.When it comes to Web 3 communication, ENS holds the ability to make all the changes. In this article, we will travel through some evident reasons for this.To know what a prominent Ethereum address is, people can utilize the ENS. The name of a person has a link to s specific name. Here we are talking about the name service that is based on ETH but is not limited to it. Employing human-readable names instead of long wallet addresses is a secure, decentralized mechanism. Anyone may purchase and administer domains utilizing this decentralized service.It is evident to use ENS in place of cryptographic keys to deliver ERC-20 tokens to a domain like “mydomain.eth”.There are various parallels between this technology and the DNS system of the internet. Users also have the ability to unite their online presence and walk into the world of Web3 employing this tool.Unlike the Domain Name System (DNS) of the internet, the ENS acts as a Web3 service. It depends on the smart contracts of Ethereum and is safer, more private, and immune to censorship.Its team thinks that internet naming mechanisms should be decentralized and open. Since the Ethereum ecosystem already prevails, the ENS may benefit from it and interact with billions of prevailing smart contracts.If others are required to transfer coins to you, they must be aware of your ENS domain name. Utilizing ENS, you may establish a kind of “nickname” for your wallet address.A URL such as “yourname.eth” will be the only need to share this data with your friends. If you find this information challenging to share a lengthy string…

Albeit new, bitcoin and cryptocurrency have become one of the most desirable asset classes in a mere decade. With fantastic returns and a revolutionary technology challenging the archaic and corrupt fiat financial model, cryptocurrency is quickly becoming the new norm.In addition to the common population, it has managed to grasp the attention of major investors, corporations, and governments. Suffice to say, crypto is here to stay.Being a new asset class, crypto operates in a different fashion compared to traditional assets making it a bit heavy for many people to get into it. Volatility, regulations, safety, and knowledge are some of the things that people have to consider before getting into this space.But these roadblocks shouldn’t stop you from exploring this exciting space. If you are a new entrant looking to invest in crypto, you are not alone.Here is a quick guide to get you started…With thousands of cryptocurrencies and new ones coming almost every day. Crypto markets for new entrants can not only be intimidating but quite challenging.Most projects in the crypto space don’t last more than a few years, not to mention the numerous scam coins that pop up almost every day. Looking at the last 10 years of the market alone, only 2 cryptocurrencies [Bitcoin and Etherum] have managed to stay in the top 10 list by market cap. All others have either fallen to lower ranks or have faded away into nothingness.It is quite important to do well-informed research before investing in any new crypto project. Even coins with a strong team and roadmap have not managed to survive the wild world of crypto.Crypto market is a new space and is thus quite unpredictable, so it is quite important to be well informed and, most importantly, be aware of the risks involved.If you prefer to be on…

Photo by Jeremy Bezanger on UnsplashOver the past year, Bitcoin prices have reached numerous new all-time highs, followed by steep losses and increased institutional investment from significant firms.Late last year, Ethereum, the second-largest cryptocurrency, also set a brand-new record.

In this article, we review the similarities and differences between crypto and stocks.Trading is one of the many ways to pursue financial independence. While stocks have been around for centuries and have achieved a certain status of reliability, cryptocurrencies are relatively new. Both of these assets are a great option to invest in and grow ones wealth. However, investors need to choose a market based on their goals, preferences, experiences, and knowledge of trading markets.Even though the crypto market is young, it is attracting substantial investments from people around the globe. According to a CNBC survey, more than half of millennial millionaires have already invested at least 25% of their wealth in cryptocurrencies. In this article, we review the similarities and differences between crypto and stocks.Even though the crypto market and stock market share many differences, there are a few similarities too:Both are continuous auction markets.In both crypto and stock markets, demand and supply are the value drivers.The risk of loss is always present in both markets.Both markets are available on digital platforms and allow traders to perform instant trades.The price action of speculative crypto coins is similar to that of penny stocks.Cryptocurrencies and stocks serve different purposes in a portfolio and investment strategy. Let’s look at some key differences between crypto and stocks.The type of asset is the primary difference between crypto and stocks. Stock exchanges trade stocks and shares of a company, whereas cryptocurrency exchanges trade cryptocurrencies such as Bitcoin or Ethereum.Stocks or shares represent equity in a company. When an investor buys shares of a company through the stock exchange, he becomes a partial owner of the company itself. The performance and efficiency of the company determine the value of your shares. On the other hand, the purchase of a cryptocurrency, whether it is a crypto coin…

Bitcoin is up 10% this week, bouncing off lows near $18,000 and rallying back above $20,000. Ethereum is up almost 25% off of its lows near $900.Crypto is on the verge of a potential contagion event.It’s been a volatile month for the industry and a lot of why that is has to do with overleveraged hedge funds and poorly run projects and…