[Could licencing of crypto exchanges by local authorities boost adoption of crypto?]

On 12/08/2023 at 09:53, Wakanda said:

It is true that there is always light at the end of the tunnel. After months of battling with Non compliance regulation architecture which has forced them out of some European countries and the recent case with SEC. It's good to see Binance in good spotlight again after securing license to be the first CEX to operate in El Salvador. There are a couple of other exchanges like Bitget who has also gained more ground across the continents especially in Asia recently due to the exchange compliance to local authorities in delivering quality crypto services to her users having obtained the required licence of operation.
I am excited for this development because investors/users have more confidence in an exchange who has the requisite permit of operation. If more crypto exchanges are to be licensed, do you think it could help boost the confidence of users towards mass adoption of crypto?

The synergy between government and the Crypto industry is obviously important for adoption. We could see the impact of SEC stance on crypto has had recently on the market 

[Which CEX could be trusted following reports of Huobi's Insolvency?]

On 09/08/2023 at 21:31, Wakanda said:

It's barely a year since the unfortunate incident of FTX crash and it's like we are about to witness similar scenario. Personally, I don't pray for such because this will dent the image of other reputable CEXs like Bitget, Binance, Kraken among others who has been following the rule of engagement and ensuring users have absolute peace of mind over their assets. 

There have been series of allegations against Justin Sun and the exchange in the past few days with top executives of the exchange being questioned by the Chinese police. The news of the misappropriation of funds and possible insolvency has led many investors to either withdraw or transfer their funds from the exchange raising a question if we are about to witness another similar scenario to that of FTX.
Could DEX be the solution or there are still exchanges that can be trusted? 

Exchanges will always be Exchanges and DEX can't be the saviour cos often time we read and have seen how they have been exploited and assets stolen. I think the right questions is how do avoid falling into this unfortunate trap by choosing the right CEXes to use. 

[Is Bitget wallet really worth the hype?]

On 12/08/2023 at 13:55, Wakanda said:

I have seen lots of comparison and ratings made by people since Bitget upgraded their wallet from Bitkeep to Bitget wallet and decided to download and see for myself.
After navigating through the app, I must say I'm really impressed by the quality of job done by the exchange. Aside giving an improved experience of what is obtainable on either Trust Wallet or Metamask, there are exciting features that I think could made it more inviting and attracting to users; they include 
1. The incorporation of Bitget Academy: This help both new and old users to learn more about crypto, blockchain, web3, trading and many more
2. Incorporation of Bitget Wallet KOL and Knight: This helps influencial people in the blockchain industry to become Bitget wallet KOL and monetize their influence. The wallet also provide numerous job opportunities for web3 enthusiasts who want to participate in web3 development, work from home and also earn money online.
3. Extra layer of security and privacy: The wallet is well secured with an extra layer of protection designed to easily fish out illegal activities like; fake address scam, Dapp Approval Scam, fake QR code scam, fake customer service scam among others. The help centre is also well equipped with info that are beneficial to users. 

I may be wrong so, I would like to hear from other users. What are your assessment of the wallet?

I have noticed the platform making headlines with innovative ideas recently and I hope they keep up the pace. Having a secured wallet is a good thing  but how many chains does it support atm? 

[Could memecoins lead the way to the next bull run?]

3 hours ago, Emon said:

XRP8 is on which chain please?

It's on Ethereum chain and the trading seem to be appreciating but what amazes me is it's max and total supply of 100 million which doesn't make it look like other memecoin 

[Why youth could be the driving force for crypto adoption]

While the crypto market seems to be facing some challenges concerning adoption which was obvious in the Q2 market report from CG and tokeninsight. The youth seems to be very resilient in exploring this emerging market. 

Statistics has shown that a fractional percentage of the world population that own crypto is 4.2% which translate to about 450 million users world wide. The top countries that constitute this statistic are:

USA -46 million+

India -27 million+

Pakistan -26 million+

Nigeria -22 million+

Vietnam -20 million+

Crypto owners demographics also show that 63% are male and 37% female which means a lot needs to be done to on board the feminine gender. 72% of the entire crypto users are also youth within the age bracket of 30 to 35 years This is why i think we are still evolving but aggressive awareness by the top players should be encouraged. 

CZ and Gracy Chen deserves some commendation for always creating the desired awareness particularly on twitter lol 🤣 🤣 X platform I guess. The upcoming maiden crypto experience day to be hosted by Bitget in 9 different countries on the international youth day will be helpful. Tho, I feel reaching out to the youthful populace in the grassroots should also be the focus because the GenZ are already abreast of the potential of Blockchain technology and cryptocurrency. 

[Another Blockchain innovation is set to hit the mainstream crypto space Via top tier CEX listing]

2 hours ago, Bash4j said:

#AZIT is a blockchain-based integrated platform for real estate and housing services, aiming to establish a business ecosystem that benefits all real estate and housing service providers.
Azit Alliance is forming an ecosystem where users can benefit when using real estate, moving, cleaning, house designing, laundry, pet, house insurance, and many other residential services.

With the waves of partnership and team effort, it plans to drive the point reward market utilizing the blockchain technology of its partner. They also promise to provide users with various benefits such as joint promotions and events. Additionally, they have planned collaborative marketing activities to enhance the competitiveness of their respective platform services, including its native token $AZIT, and boost its exposure via top-tier CEX listing.

AZIT Alliance native utility token that will be used 
as a key currency for various service mileage points.
Exchanging Partner Company’s mileage points.
Changing mileage into AZIT Token and exchange for fiat currency and many more will be listed on Bitget on 1st August by 5 AM (UTC) with several user-oriented events.

I think Azit concept could give birth to another huge DeFi like Blockchain such as Ethereum. Their Proptech Blockchain could onboard investors and customers in property and real estate sector to their ecosystem. With its coin already been accessible via listing; it's indeed worthy to keep a close tab on this project cos it's token is also has interesting utilities. 

[CoinGecko Q2 2023 Cryptocurrency report]

Crypto market was met with quite a number of challenges recently which is obviously the reason we didn't see significant increase in trading volume but I guess the impressive performance by the two two Bs exchanges particularly Bitget could be tied to their innovative ideas. Their success story in Copy trading which has onboarded good number of elite traders has eased the adoption of crypto cos record have it that more than 500k users copy trades from those elite traders but I think more still needs to be done and the era of traditional big names could be over which is the beauty of decentralization 

 

[Trading for beginners: Common mistakes you should avoid.]

This is quite educative and that's why I usually subscribe to copy trading on one the largest crypto copy trading exchange. It saves me from the  emotional stress associated with trading and often times reduce my exposure to losses.

[The Next Bull Run.]

Your point 2 and 3 are very important cos adoption will definitely have positive impact on the market. Amazon's plan to explore blockchain technology could be the spotlight for other major firms to adopt the technology and  the consequence might be global adoption of blockchain and acceptance of crypto for transaction. 

I also think Gracy Chen and CZ should be acknowledged for their effort in creating the desired awareness for the adoption and growth of web 3 which is also factor that could ignite the next bull run.

[Litecoin halving and the potential impact it could have on its Price]

3 hours ago, Mattluck said:

Talking about preparation for the upcoming LTC halving, there are lots of events showing the preparedness of the LTC halving. Just of recent few exchanges has brought out events to create more awareness and get people ready ahead of the LTC halving. 
 

I guess those event could be one of the reasons Litecoin network has seen impressive numbers of transactions recently. Statistics shows 10 million transactions have been made and counting. I am only aware the trading contest on Bitget, MEXC and Houbi. I will like to know if Kraken or Binance has a similar arrangements for her users. 

[Litecoin halving and the potential impact it could have on its Price]

This year Litecoin halving has seen many argue its potential impact on its price but the question is " does it really affect its price?" Records shows 2015 & 2019 halving all saw +500% price performance and creating new ATHs in every halving year but how true is it?

The first halving was in August 25th, 2015 and the price action in that period wasn't encouraging but good for accumulation cos post halving was very interesting. Although, it wasn't imminent. Significant price action started early 2017; almost 2 years after. 

August 5th, 2019 halving had similar scenario. Price was on a decline; presenting accumulating opportunity for the diamond hands to buy and HODL during this halving period. History repeated itself much later and another new ATH was created in May 2021.

This year halving may not be different from the previous records cos HH has been created and its now retracing to grab liquidity to push up and create a new HH. This is obviously another accumulation phase for $LTC maximalist.

The obvious lesson from Litecoin halving is; "Accumulation and HODL". Litecoin halving hype is indeed real but how are we preparing and do we think a new ATH is in play?

[Why proof of reserve may not be the only criteria for identifying a healthy exchange.]

Amidst uncertainty and doubt about the safety of most centralized exchanges after FTX collapse, most top CEXes adopted and launched the Merkel tree Proof of Reserve to proof. This concept have given traders the opportunity to access the liquidity state of their various preferred exchanges.

This initiative may have restored confidence on the use of centralized exchanges. However, few exchanges have further introduced a concept that wouldn't only prove their healthiness (based on liquidity alone) but to some extent give new user and existing traders confidence of assets safety. 

The customer protection fund is the emerging concept and could be another verifiable tool to identify a healthy exchange because there have been concerns about relying only only on PoR due to the fact its only a single snapshot in time and not a live accounting of the total assets. 

Top CEXes such as Binance, Bitget and OKX have launched the customer protection fund with total value of the fund already exceeding $2 billion. These 3 CEXes are currently the few to adopted this emerging concept ( check Blockchain analytic firm from Nanseen on June 14 and cointelegraph Zhiyuan Sun June 15). 

This should be a welcome development even though it doesn't guarantee assets safety and solvency of an exchange but it a confidence boost and has obviously led to increase in liquidity on the above mentioned CEXes except for Binance which may be attributed to their current litigation with the U. S SEC and exit from few European and north American countries.

 

[Anonymity in cryptocurrency]

Cryptocurrency transaction is actually meant to be encrypted but a lot have changed with increasing adoption  and that's why most OGs in the industry aren't kul with the proliferation of KYC by some Centralized exchanges. I think few exchanges like Mexc, Bingx and particularly Bitget are the few that tolerate non KYC transaction. Although, the increasing call for government regulation might be linked to the call for mandatory KYC.

 

[GameFi and SocialFi benefits in utilizing the Blockchain technology.]

With the advent of web 3. We have began to appreciate the emergence of Blockchain technology. A good number of GameFi/SocialFi  projects have shown how one can earn passively without necessarily investing heavily on projects. 

STEPN, FITFI and Bikerush were a good example and I think their emergence has also created great utility for NFTs because to earn STEPN utility token you have to use it's NFT sneakers to move or walk around.

TypeIt is another latest Web3 that came to my notice via Bitget launchpad. It's first ever Web 3 NFT themed keyboard allow the earning of their in-game token

I guess we are yet to tap the full potential of Blockchain technology but while we are still exploring it; Gamefi and Socialfi have also contributed to the massive adoption of web 3 in the utility of Blockchain technology.