Jump to content

ElizabethSwan

Community Member
  • Posts

    10
  • Joined

  • Last visited

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

ElizabethSwan's Achievements

Occasional Contributor

Occasional Contributor (2/10)

2

Reputation

  1. What Is Crypto Mining? Before we dive into cryptocurrency mining and whether or not it is profitable, let’s first discuss what it is. Mining is fundamental to most cryptocurrencies. It’s also one of many factors that contribute to cryptocurrency prices. Since mining offers coins as an incentive for people to verify transactions and secure a blockchain network, miners play a key role in creating an innovative ecosystem. With that in mind, let’s take a look at how you can determine your crypto-mining profitability. First, you’ll need to figure out if mining is right for you. Ask yourselves the following questions: What hardware do you need? Then, what software? What will be your total cost (including hardware and electricity)? How much money can you make with each coin? Is there a risk of earning less than if you had simply bought coins outright? These are all important questions that will help inform your decision. So before jumping in, consider everything from start to finish—and weigh all options before making any decisions. For example, if your total cost of mining exceeds the amount of money you expect to make by just buying the coin, then mining may not be the answer. Ways to Make Money from Crypto Mining If you’re a novice in cryptocurrency mining and don’t have a lot of money to spend on a high-end rig, you can still make mine and make considerable profits. Here are the two ways in which you can make money from crypto mining, explained in detail: Self-Mining When you mine cryptocurrency, you’re essentially spending computing power on solving math problems to verify crypto transactions. You don’t need a huge amount of computing power to make money doing it, but it does take up a lot of energy. Instead of having your computer do all that work for you (and cost you a lot of money in electricity), consider self-mining and earning rewards without paying fees. There are lots of options out there for free or low-cost software—such as NiceHash—that will let you run a miner on your own computer. The only downside is that they’ll eat up some processing power and can slow down your machine while they run. However, if you have an old laptop lying around or an unused PC sitting at home, it could be worth setting them up as miners to start earning cryptocurrency passively. Pool Mining You can also join a <a href="https://www.investopedia.com/tech/how-do-mining-pools-work" rel="nofollow">mining pool</a> —essentially a network of computers working together to solve complex math problems. Mining pools allow you to join a group of miners and share their hashing power. The mining pool divides their found blocks into payouts, which are then shared out based on how much work each miner has contributed to obtaining those blocks. For example, if one miner in a mining pool contributes half of all hashing power for that day, they’ll receive half of that day’s payout (minus fees). If multiple miners contribute an equal amount of hashing power, they’ll be paid equally. This is known as proportional or pay-per-share mining. In addition to giving more frequent rewards, proportional pools also reduce your risk by reducing variance—you get more consistent returns when you don’t have to worry about whether or not you might hit a lucky streak and get paid extra for it. When considering which mining pool to join, make sure you understand what kind of payment method they use: PPS pays per round and will cost you less in transaction fees than PPLNS does. How to Start Crypto Mining If you’re wondering how crypto mining works, it’s not as complicated as it may seem. To start mining crypto, follow these simple steps: Select a cryptocurrency to mine. You’ll want to choose a currency that has value and isn’t going away anytime soon. The top five most profitable cryptocurrencies right now are: -Bitcoin (BTC) -Ethereum (ETH) -Litecoin (LTC) -Ripple (XRP) -EOS Set up a crypto wallet and get yourself a computer capable of running multiple graphics cards (or GPU) Once your hardware is set up, download free cryptocurrency mining software such as Claymore Start hashing When it comes to mining cryptocurrencies like Ethereum or Zcash, you need to decide if you’re going solo or pool mining. Each has its pros and cons. Solo mining means you’re essentially competing against other miners in an attempt to solve blocks on your own—but if you win, you receive 100% of the block reward. Pooled mining involves joining forces with other miners and sharing rewards based on how much work each miner contributed. Is It Profitable to Mine on a Processor? There are many factors to consider when calculating crypto mining profitability, including electricity costs and hardware setup. Given that bitcoin has shot up in value in recent months, it may seem like an easy call to plug in your system specs and start earning digital currency. But while it is possible to turn a profit by mining bitcoin on a home computer, you’d probably be better off putting your time and money into a more conventional asset or investment. Here’s why. One of those factors is whether or not it makes financial sense to mine for cryptocurrency—which depends greatly on where you live. Cryptocurrency mining can potentially create short-term profits as long as market prices remain stable, but these cash flows could quickly vanish if virtual currency rates begin to dip again—as they have done over and over again throughout history. Is It Profitable to Buy ASIC? ASIC stands for Application-Specific Integrated Circuit, they’re chips created to do one thing and one thing only (in your case, mine cryptocurrency). ASIC miners were built with two advantages in mind: speed and power efficiency. When using an ASIC miner, you can be certain that you’ll get a certain hash rate for a certain amount of power. You can calculate your expected earnings based on that information alone. But is it profitable? Well, that depends on what type of return you want to see from your investment. If you want a high return on investment within a short period of time, then ASIC mining might not be right for you—it will take some time before those initial investments pay off. However, if you have more patience and are willing to wait out long periods of time before seeing returns from your investment, then ASIC mining could be right up your alley! Is It Profitable to Mine on a Video Card? Mining on a video card can potentially be profitable, but it all depends on your electricity cost and what cryptocurrency you are planning to mine. 
 It is not recommended to go out and purchase a bunch of video cards and attempt to mine unless you already have free power (which is extremely rare). If you have free power and you want to learn more about cryptocurrency, it might be worth setting up a small rig just for fun. However, if you are looking to make money from crypto mining, it’s best to buy an ASIC miner like Antminer S9 or Dragonmint T1. These miners are specifically designed for one purpose: mining cryptocurrencies like Bitcoin and Ethereum as efficiently as possible. Other Methods of Mining There’s a variety of ways you can do crypto mining, many of which have been listed in this guide. If you’re still looking for other ways, consider cloud mining. Cloud mining is a procedure in which you pay someone (usually a large organisation) a set amount of money to "rent out" their mining machine, known as a "rig," as well as the mining process itself. This rent is for a set length of time, during which time all of the profits generated by the rig (less electricity and maintenance costs) are paid to your cryptocurrency wallet. The businesses that provide these cloud mining services usually have large mining facilities at their disposal, with several farms (tens or hundreds of rigs stacked and functioning simultaneously), and are well-versed in bitcoin mining. Cloud mining has grown in popularity due to several factors, the most common being that it requires the least effort as compared to other methods. It’s perfect for miners who don’t want their own rig. 
 Out of all the 4 options: CPU, GPU, cloud, and ASIC, the best option is one that most suits your needs. This can be determined by a few essential factors: are you willing to invest some money upfront? If so, how much? Do you want to be the owner of a rig? Do you even want to use a rig? The answer to these will help you figure out which method of crypto mining is ideal for you. September 15, 2022 | Oleksii Zozulia, Marketing Manager
  2. Best Crypto Trading Strategies Are you wondering which is the best cryptocurrency to trade? This question comes up all the time among online investment communities, and the answer isn’t always simple to determine. Since there are so many different cryptocurrencies available on the market today, not to mention numerous exchanges through which you can purchase them, finding the right one for your portfolio can be a challenge. Here’s an overview of some popular cryptocurrencies you might want to consider investing in, along with some helpful tips on how to pick them based on your personal needs and goals. How to Trade Cryptocurrency for Beginners To learn how to trade cryptocurrency, we need first to understand how it’s exchanged and what cryptocurrency is. Cryptocurrency is not just a regular currency like dollars, euros, or pounds. It’s a digital currency that can be used in different kinds of trading operations with other currencies, products, or services. If you’re an absolute beginner, it may be smart to start with a fiat-based exchange. Many fiat exchanges allow you to buy and sell Bitcoin, Ethereum, and other cryptocurrencies directly with USD. These exchanges offer more convenient fee structures than trading crypto pairs directly (although they charge higher fees). For example, Coinbase offers a 1.49% fee on credit card purchases and 2.99% on bank account purchases. You can also use these exchanges to trade between different cryptocurrencies. This is another way of avoiding fees—if you want to diversify your portfolio but don’t want to use multiple wallets or accounts. How to Select the Best Cryptocurrency to Trade Consider the following questions before you select which crypto to invest in: How much you’re willing to spend
 How frequently do you plan to trade
 Whether you want to trade in large amounts of crypto (more than $500) or small amounts ($20) 
 The good news is that it doesn’t take long to set up an account on most crypto trading platforms—and once your digital wallet is established, it will only take minutes before you can start trading. Once you’ve opened an account, connect it to your bank account via wire transfer or credit card payments. Once that’s done, use the platform’s app or website to buy crypto using one of the given exchange options. Learn to Trade Cryptocurrency The best way to trade cryptocurrency is via a platform that allows you to do so. There are several benefits to trading cryptocurrency as well as drawbacks such as volatility, so keep in mind that you may not make a profit on a smaller investment. Crypto trading can be risky; there are no guarantees, and it takes time to master. Thus, it is important to learn how to trade cryptocurrency for profit. Check out how below: Get yourself a good exchange 
 It doesn’t matter where you get your cryptocurrencies from, but at some point, they need to end up in an exchange platform. Some exchanges will let you use fiat currency (such as USD) to buy cryptocurrencies or vice versa, while others only deal in crypto-to-crypto transactions. There are plenty of exchanges out there, and new ones are popping up all the time; find one that suits your needs and has low transaction fees. Use online resources
 Once you have money on an exchange, buying and selling cryptocurrencies is easy enough. But how do you know when to buy it? How much should you invest? And when should you sell? Day trading isn’t easy; fortunately, there are resources available online that can help guide your decisions. For example, Investopedia has a great introductory guide to day trading. Learn technical analysis
 Technical analysis involves studying charts of price movements over time to predict future price trends based on historical data. Most trading apps provide charts to help you make investment decisions, but you will need knowledge of the abovementioned online resources to help you decipher these charts. Short-Term Trading When traders are looking to make short-term trades (less than a few days), they should look at using their favorite exchange or broker. You’ll want to put your money in an exchange or with a broker that has low fees and low spreads, so you can keep as much of your profit as possible. Check out the best ways to trade crypto in the short run: Scalping Scalping is a trading method that focuses on benefitting from small price movements and reselling for a quick profit. Scalping necessitates a tight exit plan because a single major loss might wipe out the many little gains the trader has worked so hard to achieve. Momentum Trading As an inexperienced trader, you should keep things simple. You can try out a simple momentum trading strategy with only two indicators: RSI and MACD. These indicators show you when to buy or sell cryptocurrency. The rules for both are straightforward: When RSI goes above 50, it’s time to buy, and when it goes below 50, it’s time to sell. Similarly, when MACD crosses 0 (zero), it means it’s time to buy, and when it crosses -0 (negative zero), that means it’s time to sell. Medium-term Trading This strategy involves buying coins and holding onto them for at least a week, but usually much longer. Traders who employ medium-term trading usually aim to buy low and sell high, taking advantage of price volatility in an attempt to generate quick profits. Popular medium-term trades include: Day trading: Day traders hold positions for anywhere between six hours and a few days before closing out their positions or switching strategies
 Swing Trading: Swing traders hold positions for several days to several weeks, sometimes even months Reverse Trading Many cryptocurrency exchanges don’t charge a transaction fee for buying and selling. In some cases, you may have to pay a deposit or withdrawal fee when you transfer fiat into or out of your account. However, if you set up an account at Binance and then buy some cryptocurrency on another exchange, you can use that other exchange to trade your cryptocurrency for free as long as Binance doesn’t charge a withdrawal fee. Thus, reverse trading is the best way to trade cryptocurrency without fees. Range Trading One of the most efficient and profitable ways to trade cryptocurrency is range trading, which consists of buying coins once they’ve risen in value to a set amount and selling them when they fall back down. In other words, you go long on coins that are rising in value, then short-sell them once they’ve fallen again by at least a certain percentage. This strategy allows you to profit both from short-term financial market movements (when you buy low and sell high) as well as longer-term gains. Long-Term Trading If you’re wondering how to trade cryptocurrency and make a profit, simply buy, hold, and HODL. The only strategy required for a long-term investment in crypto is to sit back and watch your holdings climb. Long-term traders can also play it safe by dollar-cost averaging: purchasing small amounts of cryptocurrency at regular intervals with a fixed budget. This can help protect against random price swings that could hamper profits or lead to major losses if left unchecked. Here are a few strategies to help you maximize profits if you’re investing in crypto for long term gains: Follow the Trend The easiest way to make money with crypto is to follow the current trend. There are a few different strategies, but it all comes down to following another trader—and if they turn out to be a good one, you benefit from their knowledge and work. The best way to do that is by signing up for an account on one of several crypto-only exchanges, such as Binance or Bitfinex. You can also use technical analysis to see how many traders are buying and selling each cryptocurrency. For example, if there is high demand for a cryptocurrency, the price will automatically go up and vice versa. Thus, it is important to follow the trend to understand when to buy and sell. Buy the Dips and Hold One of the best ways to trade cryptocurrency is to buy coins on dips (or during a downturn). A dip in prices happens when there is bad news that causes investors to sell their holdings. This means that you can often buy coins at discounted prices, which translates into better profits if you hold onto them for a longer period. Fad Trading In fad trading, you are predicting that a coin will go up in value because of some news event or other fad, and you buy it at its current price. If it goes up by more than you initially thought, you make money on your original investment, but if it does not go up by enough (or just goes down), then you lose money. However, this strategy can be very risky and is best suited for experienced traders who have market know-how. Conclusion There are a lot of options when it comes to trading cryptocurrency, so you need to decide which one is best for you. Before trading, make sure you do your research and know what your end goal is. If you are looking to trade Bitcoin but don’t have a lot of money, the best way to trade crypto in the US is to start with an exchange that doesn’t charge transaction fees. August 22, 2022 Elizabeth Swan
  3. Crypto Trading Strategies Are you wondering which is the best cryptocurrency to trade? This question comes up all the time among online investment communities, and the answer isn’t always simple to determine. Since there are so many different cryptocurrencies available on the market today, not to mention numerous exchanges through which you can purchase them, finding the right one for your portfolio can be a challenge. Here’s an overview of some popular cryptocurrencies you might want to consider investing in, along with some helpful tips on how to pick them based on your personal needs and goals. How to Trade Cryptocurrency for Beginners To learn how to trade cryptocurrency, we need first to understand how it’s exchanged and what cryptocurrency is. Cryptocurrency is not just a regular currency like dollars, euros, or pounds. It’s a digital currency that can be used in different kinds of trading operations with other currencies, products, or services. If you’re an absolute beginner, it may be smart to start with a fiat-based exchange. Many fiat exchanges allow you to buy and sell Bitcoin, Ethereum, and other cryptocurrencies directly with USD. How to Select the Best Cryptocurrency to Trade Consider the following questions before you select which crypto to invest in: How much you’re willing to spend. How frequently do you plan to trade. Whether you want to trade in large amounts of crypto (more than $500) or small amounts ($20). The good news is that it doesn’t take long to set up an account on most crypto trading platforms—and once your digital wallet is established, it will only take minutes before you can start trading. Learn to Trade Cryptocurrency The best way to trade cryptocurrency is via a platform that allows you to do so. There are several benefits to trading cryptocurrency as well as drawbacks such as volatility, so keep in mind that you may not make a profit on a smaller investment. Crypto trading can be risky; there are no guarantees, and it takes time to master. Thus, it is important to learn how to trade cryptocurrency for profit. Check out how below: Get yourself a good exchange. It doesn’t matter where you get your cryptocurrencies from, but at some point, they need to end up in an exchange platform. Some exchanges will let you use fiat currency (such as USD) to buy cryptocurrencies or vice versa, while others only deal in crypto-to-crypto transactions. There are plenty of exchanges out there, and new ones are popping up all the time; find one that suits your needs and has low transaction fees. Use online resources. Once you have money on an exchange, buying and selling cryptocurrencies is easy enough. But how do you know when to buy it? How much should you invest? And when should you sell? Day trading isn’t easy; fortunately, there are resources available online that can help guide your decisions. For example, Investopedia has a great introductory guide to day trading. Learn technical analysis. Technical analysis involves studying charts of price movements over time to predict future price trends based on historical data. Most trading apps provide charts to help you make investment decisions, but you will need knowledge of the abovementioned online resources to help you decipher these charts. Short-Term Trading When traders are looking to make short-term trades (less than a few days), they should look at using their favorite exchange or broker. You’ll want to put your money in an exchange or with a broker that has low fees and low spreads, so you can keep as much of your profit as possible. Check out the best ways to trade crypto in the short run: Scalping Scalping is a trading method that focuses on benefitting from small price movements and reselling for a quick profit. Scalping necessitates a tight exit plan because a single major loss might wipe out the many little gains the trader has worked so hard to achieve. Momentum Trading As an inexperienced trader, you should keep things simple. You can try out a simple momentum trading strategy with only two indicators: RSI and MACD. These indicators show you when to buy or sell cryptocurrency. The rules for both are straightforward: When RSI goes above 50, it’s time to buy, and when it goes below 50, it’s time to sell. Similarly, when MACD crosses 0 (zero), it means it’s time to buy, and when it crosses -0 (negative zero), that means it’s time to sell. Medium-term Trading This strategy involves buying coins and holding onto them for at least a week, but usually much longer. Traders who employ medium-term trading usually aim to buy low and sell high, taking advantage of price volatility in an attempt to generate quick profits. Popular medium-term trades include: Day trading: Day traders hold positions for anywhere between six hours and a few days before closing out their positions or switching strategies. Swing Trading: Swing traders hold positions for several days to several weeks, sometimes even months Reverse Trading Many cryptocurrency exchanges don’t charge a transaction fee for buying and selling. In some cases, you may have to pay a deposit or withdrawal fee when you transfer fiat into or out of your account. However, if you set up an account and then buy some cryptocurrency on another exchange, you can use that other exchange to trade your cryptocurrency for free as long as set up account doesn’t charge a withdrawal fee. Thus, reverse trading is the best way to trade cryptocurrency without fees. Range Trading One of the most efficient and profitable ways to trade cryptocurrency is range trading, which consists of buying coins once they’ve risen in value to a set amount and selling them when they fall back down. In other words, you go long on coins that are rising in value, then short-sell them once they’ve fallen again by at least a certain percentage. This strategy allows you to profit both from short-term financial market movements (when you buy low and sell high) as well as longer-term gains. Long-Term Trading If you’re wondering how to trade cryptocurrency and make a profit, simply buy, hold, and HODL. The only strategy required for a long-term investment in crypto is to sit back and watch your holdings climb. Long-term traders can also play it safe by dollar-cost averaging: purchasing small amounts of cryptocurrency at regular intervals with a fixed budget. This can help protect against random price swings that could hamper profits or lead to major losses if left unchecked. Here are a few strategies to help you maximize profits if you’re investing in crypto for long term gains: Follow the Trend The easiest way to make money with crypto is to follow the current trend. There are a few different strategies, but it all comes down to following another trader—and if they turn out to be a good one, you benefit from their knowledge and work. The best way to do that is by signing up for an account on one of several crypto-only exchanges. You can also use technical analysis to see how many traders are buying and selling each cryptocurrency. For example, if there is high demand for a cryptocurrency, the price will automatically go up and vice versa. Thus, it is important to follow the trend to understand when to buy and sell. Buy the Dips and Hold One of the best ways to trade cryptocurrency is to buy coins on dips (or during a downturn). A dip in prices happens when there is bad news that causes investors to sell their holdings. This means that you can often buy coins at discounted prices, which translates into better profits if you hold onto them for a longer period. Fad Trading In fad trading, you are predicting that a coin will go up in value because of some news event or other fad, and you buy it at its current price. If it goes up by more than you initially thought, you make money on your original investment, but if it does not go up by enough (or just goes down), then you lose money. However, this strategy can be very risky and is best suited for experienced traders who have market know-how. Conclusion There are a lot of options when it comes to trading cryptocurrency, so you need to decide which one is best for you. Before trading, make sure you do your research and know what your end goal is. August 22, 2022 | Elizabeth Swan
  4. The Reasons Why The Ethereum Platform Is So Popular When answering the question of what Ethereum is, one may say simply that it's a cryptocurrency; another one would refer to it as a blockchain ideal to run decentralized applications. Some would associate Ethereum with different tokens based on the network. Let’s delve into the Ethereum platform development and explore what Ethereum is and why it is so successful. What Is Ethereum? Ethereum is a large blockchain network that was developed to expand the use of blockchain technology rather than just to compete with Bitcoin in the field of cryptocurrency. With all respect to Bitcoin's innovativeness, its network doesn't offer many opportunities. Meanwhile, Ethereum was designed to allow people to create and run their own applications and smart contracts without a third party. A young programmer named Vitalik Buterin developed the idea of cryptocurrencies. Ethereum was launched in 2015 with an initial capital of 72 million Ether. Although Ethereum uses the same principles as other networks, the main difference is the ability to create applications based on it. It has its own currency called Ether, sometimes referred to as Ethereum, which is a bit confusing. Ether is a utility token created to make payments. Apart from the fact that it is Bitcoin's closest competitor by market capitalization, it has some interesting features. On Ethereum, it is possible to mint stable coins, utility tokens, or newly stormed into the crypto-marked non-fungible tokens (NFTs). The system is characterized by its reliability and readiness for change. How To Buy Ether? Now that you are familiar with Ethereum and its ecosystem and perhaps even have your own tokens or are considering purchasing them let's take a look at where and how best to buy Ether. Online Exchange Platforms The largest decentralized exchanges and trading platforms like Coinbase, Binance, Kucoin, Huobi, and others offer their services for buying and selling Ether. To buy Ether, you need to take several steps: Create an account in the system or download the application Add a payment method Select Ether from the list of assets Enter the amount you want to spend on the purchase Peer-to-Peer There is a peer-to-peer (P2P) transaction option. In this case, you will need the appropriate section on the trading platform. Peer-to-peer network technology allows multiple devices to communicate directly with each other without an intermediary. Such a process is not much more complicated than buying Ether through an exchange. You choose the currency you want to buy, the currency you will pay with, and check the possibility of transferring directly to the recipient's bank. In addition, you can benefit from the course difference with this type of transaction. How To Store Ether? The number of altcoins has increased significantly, so we witness the rise of the popularity of multi-currency wallets. For example, the Ethereum network has multi-currency storage that supports various tokens. The cryptocurrency wallet is a personal interface that provides reliable storage and makes transactions possible. Several options differ in their speed of operation, the purpose of use, and security. Hardware Wallets It’s possible to store your Ether offline in a hardware wallet, such as Trezor or Ledger. It is believed that this is the most reliable way to store cryptocurrencies since all private keys and other data are inaccessible to hackers. A hardware wallet, or as it is also called a cold wallet, is an external portable device that can be connected to your computer when needed. It is equipped with a special anti-hacking program, which allows you to increase the level of customer security. Best of all, hardware wallets are suitable for long-term storage of crypto since the time of operations in the network with them is extended. Desktop And Mobile Wallets Desktop wallets are programs that can be downloaded and run locally on a PC. These wallets differ from some online versions as they give control over your keys and assets. Overall, desktop wallets can be considered more secure than most web adaptations. Crypto wallet developers create applications that synchronize with each other. The user can install the same wallet on the phone and PC and use a convenient option. Paper Wallets A paper wallet is a piece of paper containing a private key or a seed phrase that gives you access to your cryptocurrency assets associated with the wallet. According to the same logic as in the case of hardware wallets, paper wallets are considered among the most reliable ways to store digital coins. The creation of a paper wallet is relevant in cases of storing significant amounts of currency since an extreme level of security is required. Web Wallets Online (web) wallets are accessible from anywhere in the world where there is the internet. This is very convenient for the constant use of cryptocurrency. Usually, hot wallets are easier to set up, access and accept more tokens. However, the hot wallets are also more vulnerable to hackers, possible manipulations, and other technical problems. Today, a popular, reliable, and fast crypto wallet is TrustWallet. It is a software-based hot wallet that allows you to store more than 40 varieties of cryptocurrencies and provides access to a decentralized exchange. How Does Ethereum Work? The Ethereum platform can be used for almost any purpose you would need a ledger for, such as simple or complex transactions, smart contracts, decentralized applications (DApps), and decentralized autonomous organizations (DAOs) development. Let's take a closer look at what mechanisms make up this system. Smart Contracts Smart contracts are similar to typical legal contracts, but digital and without the participation of a third party. This is code written most often in the Solidity programming language, which exists inside the Ethereum system, and its execution is guaranteed by the program. A smart contract is considered a reliable and useful tool. Through smart contracts, Ethereum company tends to expand the concept of cryptocurrency. Ethereum Blockchain Ethereum simultaneously works on thousands of computing machines around the world; that is, it does not have a single owner. Ethereum was a pioneer of second-generation blockchains, and in addition to financial transactions, it provides a greater degree of programmability. Ethereum gives developers much more opportunities to experiment with their code. To reduce any risks, the Ethereum network introduced the concept of gas, the mechanism of additional commission fees. Anyone who's making a transaction or creating a token has to pay for the use of the Ethereum network in Ether. This is required for interacting with smart contracts, making transactions, developing DApps, etc. The Ethereum price of gas may vary, but a fixed minimum amount is required for each operation. Complex contracts require more gas than a simple transaction. Thus, the gas acts as a measure of computing power. Ethereum Virtual Machine (EVM) The role of the Ethereum Virtual Machine is to run smart contracts. The EVM is a state machine. In input, there is the state of the external blockchain; in the output, the state is updated after a transaction has been applied. Each transaction is processed by the EVM sequentially. The EVM checks the correctness of the transaction, calculates the new state of the blockchain, and saves it. To update the state, a special mechanism called mining is used. It is performed using the “Proof-of-Work” algorithm. Proof-of-Work “Proof Of-Work” (PoW) is a mechanism that prevents double-spending. Most cryptocurrencies use it as a consensus algorithm, which serves as a method of protection. Since digital currencies are just data, it was necessary to prohibit copying and sending the same units to different places. With the PoW mechanism, we can track all transfers and record them in an open, decentralized ledger. Any block containing an invalid transaction will be automatically rejected. Ether Ether has a couple more differences from other cryptocurrencies. Ether has a no-issuance limit, and it cannot be replaced with other coins for its main use in Ethereum. A few years ago, this token practically did not exist outside of the Ethereum system, but nowadays, you can pay with Ether in some online stores or purchase gift cards for Amazon, Apple, and Uber, for instance. Ethereum Use Cases Since Ether is a utility token, let's look at where it can be applied, in addition to transactions, token swaps, mining, and making purchases, and explore which companies use Ethereum. Decentralized Finance (Defi) The Defi ecosystem consists of financial instruments, such as services and applications created on the blockchain. Most of the Defi products are built on the same Ethereum foundation. This means that many products work together without any issues. You can borrow tokens on one platform and exchange them on another market or application. Based on the Ethereum network, Defi wallets, the best Ethereum tokens, and even entire organizations can be created. Non-Fungible Tokens (NFTs) The NFT segment brought significant popularity to the Ether network. NFTs hit the headlines in both the top Ethereum tokens and top Ethereum projects categories. They allowed for the tokenization of things like art, collectibles, and even real estate assets, making them unique, one-of-a-kind tokens. Initially, such tokens protected the copyright of the owners and could not be illegally duplicated but, at the same time, could be transferred or sold to a new owner. Since the Ethereum blockchain not only made it easy to create your own NFT and collections but also to protect them, the development of the system did not take long. Now it is even possible to develop your own marketplaces based on Ethereum. Decentralized Autonomous Organizations (DAOs) With the advent of Ethereum, completely new ways of open cooperation through the internet have become possible. One such example is the DAOs, which are controlled by code similar to a computer program. To avoid hacker attacks, which, unfortunately, the Ethereum company had to face, the chain has undergone a division into two parts. In the new chain, malicious transactions were effectively canceled. Today, this chain is known as the Ethereum blockchain, while the one with the irreversibility of transactions is now called Ethereum Classic. How OriginStamp Uses the Ethereum Blockchain OriginStamp specializes in creating blockchain timestamps for businesses. It can provide timestamp files, data, or documents. Its goal is to prove the originality and lifetime of a digital asset. For this purpose, the Timestamp API allows you to add tamper-proof timestamps. In particular, it works with NFT and applications based on Ethereum. Conclusion About The Ethereum Platform Ethereum was launched in 2015 and since then has proved that it has long-running plans as well as ambitious goals. Thanks to its smart contract possibilities and the noble idea of creating a decentralized world, the Ethereum network has gained incredible popularity. This system includes the Ethereum blockchain, Ethereum crypto, called Ether, EVM that runs smart contracts, and a proof-of-work security mechanism. Thanks to its versatility and universality, Ethereum makes Defi DApps, DAOs, and marketplace developments possible. Despite gas prices, Ethereum remains the preferred option for users due to its security and reliability. August 22, 2022 | Oleksii Zozulia, Marketing Manager
  5. Good post, keep up the good work, I love it. I will be your reader!
  6. Hey, great post, keep up the good work. I will be your regular reader!
  7. Crypto Screener Right now, there are more coins and tokens than ever on the cryptocurrency market, with more appearing all the time. As crypto steadily grows in popularity, an ever-increasing number of people are taking the plunge and creating their own digital currency, whether to generate additional revenue or for other reasons. So, you might be wondering, with so many different kinds of cryptocurrency available, how do investors know which coins and tokens are worth putting money into? One way crypto consumers evaluate digital currencies is through the use of crypto screeners. If this term is unfamiliar to you, don’t worry! In this article, we’ll break down what a crypto screener is and why they’re so useful. We also provide a breakdown of the top seven crypto screeners available now to help give you a place to start. What Is a Crypto Screener? In simple terms, a crypto screener is a handy piece of software used by investors to find promising new coins and tokens on the market. Crypto screener programs scan the crypto sphere for digital assets that meet a certain set of criteria—criteria that you can set. This means you’re able to find exactly what you’re looking for. Criteria you can filter your searches by include: The price of the asset. The current volatility of the asset on the market. The asset’s market capitalization. The percentage price change of the asset within the past twenty-four hours. The average daily trading volume of the asset. Once you’ve provided the crypto screener with these criteria, you can search for tokens and coins that match up. Why Should You Use a Crypto Screener? But do crypto screeners even make a difference to your trading? Are they worth using? Crypto screeners are indispensable for aspiring traders and cryptocurrency consumers. With more than 10,000 digital assets being traded each day in the crypto sphere, they’re essential for being able to isolate the cryptos that are of interest to you. Expert traders use crypto screening programs in order to find the best trading opportunities out there. This means they don’t need to waste time trawling through crypto listings, studying individual assets, and charting their progress on the market. In other words, crypto screeners are a great time saver. If you want to find success as a trader, screening programs will simplify the process for you. Identifying Charting Patterns As well as helping you find new, promising cryptocurrencies, crypto screeners can also help identify charting patterns. Chart or price patterns are an integral part of technical analysis—a key tool in investing and trading. Successfully analyzing charting patterns can help investors figure out when to enter or exit the market. Crypto screeners take care of the challenging task of identifying these patterns as they occur in the market. This is particularly useful for investors who are still relatively new to the crypto sphere, or trading in general, as it can help familiarize you with the different sorts of patterns out there. Getting a View of the Market Additionally, crypto screeners also help you gain a big-picture view of the market, helping you spot undervalued assets. This all-encompassing view of the market will help you determine promising entry points and opportunities for investment. What Are the Best Cryptographic Screeners? Now that we’ve explained what crypto screeners are and have discussed some of their main benefits, we’ll now break down seven of the best cryptographic screening programs out there. When choosing a crypto screener, take into account your trading preferences, and think about which program will best suit your particular style of investing. 1. CoinMarketCap CoinMarketCap is easily one of the most popular crypto screeners available today, both among beginner traders and experienced investors. The program offers lots of useful information on a wide range of coins and tokens—a useful feature, no matter your level of trading experience. Aside from scanning for digital assets, this program also explains the technology behind each cryptocurrency project it scans. CoinMarketCap has another feature, one of which fewer users are aware. By creating a portfolio with this software, you’re able to use more advanced crypto screening tools and are able to add assets you’re interested in into a watch list for continued observation. Because of the variety of useful features available through CoinMarketCap, it is the perfect crypto screener for beginner investors. 2. CoinGecko Second, on our list is CoinGecko. Another extremely popular crypto screener, this program has the advantage of being free to use. CoinGecko has also been around for a few years now, meaning that any early kinks in the software have long since been ironed out, providing users with a seamless experience. With this software, you can filter out various digital assets by several criteria—platforms, hashing algorithms, and much more. This makes it easy for you to find precisely what you’re looking for. But by far the most useful feature of CoinGecko is the information it offers on new assets in your portfolio. The best way to take advantage of this is to register an account and add some tokens and coins to your profile. CoinGecko will then provide you with all the information you need to know to make informed decisions about investing in these currencies. 3. LiveCoinWatch LiveCoinWatch is known for being the first application to allow you to monitor the price of digital assets in real time, with these prices updated every few seconds using data from leading exchanges. It isn’t only the price of the coin you can keep up-to-date with, however. LiveCoinWatch also lets you monitor the asset’s market ranking so that you can get an idea of its performance. This ranking is calculated using crypto capitalization. 4. Messari Messari is another example of a crypto screener that can help both new and experienced investors. Its numerous features should prove useful no matter your level of experience, and no matter whether you’re an investor, a crypto developer, or an executive. This program has more than one hundred filters you can use to sort digital assets. It also presents you with a ton of useful information and statistics on every coin and token on the platform, all presented in a clear, easily understandable format. Messari even tells you a little about the history of each coin, on top of metrics such as market value and volume. 5. Cryptolume Cryptolume is most beneficial to experienced, professional traders. For one thing, it isn’t free, so unless you have the capital to spare, it’s more beneficial to use this service if crypto is your profession. That way, the platform should pay for itself! This all-in-one software has lots of screening tools and features, as well as customizable alerts to keep you updated when coins or tokens in your portfolio move on the market. 6. LunarCrush LunarCrush differs from the other crypto screeners on this list in that it is based on social intelligence. This means that the software ranks digital assets using social analytics. By bringing together social intelligence and market analysis, LunarCrush is able to help you make smarter trades and investments. There’s no denying that the cryptocurrency space is extremely malleable and manipulative. With no more than a tweet or offhand comment in an interview, influencers and celebrities can entirely change the trajectory of a coin or token. Therefore, using social metrics when analyzing the market just seems to make sense. Some of the metrics LunarCrush uses to predict price movements include social volume, content volume, and social connection. 7. DYOR The final entry on our list, and one of the newer options here, DYOR is a cryptographic screener for investors who trade in derivatives. This program searches for chart patterns and can be used to evaluate spot markets along with Binance. DYOR has more than one hundred and fifty filters that can be personalized to better suit your trading style. No matter your investment strategy, this powerful, customizable platform can help isolate promising investment opportunities. Disclaimer This article is based solely on our own findings and should not be taken as financial advice. Cryptocurrency is inherently volatile, making it a high-risk investment for even experienced traders. The above information should not be taken as instructional or as an endorsement of investing in cryptocurrency. Rather, it should be seen as informational only. August 11, 2022 | ExolixWarren Venketas, Analyst
×
×
  • Create New...
us