CRYPTO investors saw Bitcoin and Shiba Inu regain some ground on Tuesday as a new “NFT interest” provides space for those with Ethereum and Polygon in their crypto wallets.
Bitcoin is up 1.06% by the end of the day, bringing the value of the coin at $42,541 after its massive crash in early 2022.
Over the past seven days, Shiba Inu has also struggled, but a 2.60% increase on Tuesday brought the coin back to $0.00002750, according to CoinBase.
A new startup, Unstoppable Domains, will offer a single sign-on service using NFT domains for Etherum and Polygon.
CoinDesk states that the “Login with Unstoppable” service will allow users to create a unique username in the form of an NFT, which will work “like a Google login, without snooping and with much greater flexibility.”
“We think NFTs are a really great place to build digital identity,” Unstoppable Domains CEO Matthew Gould told the outlet.
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Fake Websites and Cryptocurrency
One fairly common fraud technique involves websites that look like a new mining operation or investment opportunity.
Sites encourage investors to transfer money, and sometimes offer investment “levels” and promise greater returns.
But when users try to withdraw their cash, they are unable to enter more cryptocurrencies and they are asked to.
Cryptographic tricks and dating apps
Some cryptocurrency scams have started using dating apps to search for potential targets.
In some reports, scammers represent a far-reaching love interest sharing a new opportunity for cryptocurrency.
About 20 percent of the money lost through dating scams in the past year is said to have involved cryptocurrency.
How to check for scams on the blockchain
Cryptocurrencies run on blockchain networks.
Scammers often claim that their blockchain is “in development” or “about to be released,” but all legitimate cryptocurrencies will have an accompanying website to verify the coin.
Users can type the name of the crypto into any search engine using the phrase “blockchain explorer” or “blockchain scan” to find the connected blockchain, if one exists.
What is a blockchain?
The blockchain is where encrypted data can be transmitted securely, making it nearly impossible to duplicate or forge.
This ledger is the basis of any cryptocurrency transaction.
Cryptocurrency allows people to trade currencies or assets digitally outside of any government or bank.
What is Metaverse? continued
“The metaverse is a collection of 3D virtual spaces where you can share immersive experiences with each other when you are not together,” said Andrew Bosworth, President of Meta Virtual Reality.
“What comes after the internet? Instead of looking at a screen, you get into experiences.
“You don’t have to try it in VR. Most people will experience it initially on the screens they already have.”
Facebook’s Mark Zuckerberg called it “the next version of the Internet,” and predicted that the real metaverse would be ready within a decade.
What is Metaverse?
Metaverse has a broad definition. It’s the Internet, but it’s immersive – so you live in it.
The platform will feature games, social networking, videos, shopping, health and fitness, and more.
How to Create, Buy and Sell NFTs, Part Three
Buying an NFT, like anything collectible, is a risky bet on an appreciation in value.
If there is no demand for the NFT you are buying, you may end up paying too much for something that goes down in value or you can’t sell.
NFTs are still a new market, so it is unlikely that there will be the same demand that you will find for other physical items such as trading cards, art or classic cars.
You can also create your own NFT but there is no buyer guarantee and you may end up wasting your time and money.
Like Bitcoin, you can buy and sell NFT in online niche marketplaces.
How to Create, Buy and Sell NFTs, Part Two
If you choose Ethereum as your blockchain, here’s what you’ll need for your NFT instrument.
Sellers will first need an Ethereum wallet, such as MetaMask, Trust Wallet, or Coinbase Wallet.
After that, you will need about 50-100 dollars in ether.
Once you have these, you can connect your wallet and upload the music, photo or file you want to convert to NFT.
How to create, buy and sell NFTs
NFTs are unique tradable items that have taken the Internet in recent months.
Some virtual assets have been sold for millions of dollars, but most people still don’t know what they are – or where you can buy and sell them.
To create an NFT, you need to choose what you want to create – from artwork, music, collectibles, digital trading cards, movies, video footage, and more.
Then choose the blockchain on which you want to issue your NFT and get ready to sell.
Cryptocurrency May Shut Down Kosovo’s Energy Supply
Cryptocurrency mining is often associated with high electricity usage.
The government of Kosovo has highlighted the negative effects of cryptocurrency mining on a country’s electricity supply by enforcing a complete ban on crypto mining, as the Balkan nation grapples with an energy crisis.
Indeed, fears of crypto-mining for the country’s energy supply have forced the government to instruct the security services to arrest citizens who defy the order.
RIP Mr. Goxx, Cryptocurrency Trading Hamster
Sadly, Mr. Goxx, a crypto-trading hamster, passed away on November 23.
The tragic news was shared on the official Twitter account of Mr. Goxx.
“We dread this day like no other, and are truly shocked that it has now happened,” Mr Goxx’s Twitter account said on Wednesday.
“It is in deep sadness that we have to announce the loss of our beloved furry friend.”
The account continued, “Being with us as a pet for so long, he became famous out of nowhere. Mr. Goxx brought joy to people all over the world and reminded us not to take life too seriously.
“It has brought to light the dark moments of the pandemic, inflation, and many kinds of problems.”
The amount to be traded is determined when Goxx passes through one of two “decision tunnels”.
Depending on the tunnel he passes through, the amount he will buy or sell the cryptocurrency changes in increments of 20 euros.
All data is spoofed to a computer that performs real-time transactions on behalf of Goxx.
Goxx . creators
Speaking to the BBC, the two 30-year-old German men behind the Goxx crypto hamster explained that the idea started as a joke.
“We felt that everything is getting more and more expensive these days, and savings is very difficult with high rents,” they said.
“Most people of our generation seem to see no other opportunity than to throw a lot of their savings into the cryptocurrency market, without having a clue what’s going on there.
“We were joking about whether my hamster would be able to make smarter investment decisions than we humans do.”
Follow the hamster trading cryptocurrency
Of course, the four-sided financial villain was not completing the transactions himself.
Instead, Goxx’s trading decisions were made inside a camera-equipped “desk” attached to his regular cage.
Each day, when he entered the office, he started a live stream on Twitch and a tweet was sent to his followers informing them that trading had begun.
Then the hamster ran on the “Wheel of Intent” choosing one of 30 different cryptocurrencies to trade.
Cryptocurrency trading hamster outperforms the market
The German hamster has previously traded in cryptocurrencies and has consistently outperformed the S&P 500.
The furry animal, named Mr. Goxx, has been busy with work since June, thanks to a specially adapted cage.
He decides which coins to buy or sell by running on his wheel or walking through one of two tunnels.
Mr. Goxx began trading on June 12, 2021.
The site states that the page is for entertainment only and does not provide financial advice.
What are Altcoins, continue
“They are building on Bitcoin’s success by slightly changing the rules, the economy, or the use cases to attract different users,” said Simon Peters, crypto-asset analyst at eToro.
Altcoins vary greatly in their use cases and practicality. They usually have some form of technology that they support or provide a liquidity solution for a product or service.”
What are alternative currencies?
Altcoin stands for Altcoin, a type of virtual currency that uses what is called a blockchain to allow secure transactions.
Altcoin is a class of cryptocurrency and not a currency in itself, and there are more than 900 different altcoins available.
Crypto Investments History, Part Two
The cryptocurrency industry exploded in 2021 with cryptocurrency exchanges, start-ups dealing with NFTs and gaming for profit, which Fortune highlighted as factors.
The increased interest in the Metaverse has also led to multi-million dollar investments.
Cryptocurrency investments reach $30 billion
Investors contributed a record $30 billion to the cryptocurrency industry in 2021, according to Fortune.
The news outlet cited data from Bloomberg News that $7.2 billion came from US-based investors.
Fortune reported that the $30 billion is four times the $8 billion that investors spent with companies working in the crypto space in 2018.
Bitcoin Master, Part Two
Bitcoin was created in 2009 by an unknown computer using the alias Satoshi Nakamoto.
Data from Blockchain.com on Monday showed that 18.9 million of the potential 20,999,999,9769 Bitcoins have been mined.
It’s a milestone that took 12 years to reach.
Experts believe that the last bitcoin will be mined in February 2140.
One bitcoin is currently worth about $47,000.
Experts said the value could rise as coins become scarcer.
Less than 10 percent of my bitcoins remain
Less than 10 percent of bitcoins are left to mine as the cryptocurrency passed a major milestone in December.
Data from Blockchain.com shows that 18.9 million out of 21 million potential virtual currencies have been mined.
Bitcoin is the world’s first fully virtual currency and a new one is created by mining, a complex online process that uses computer code.
It involves using a computer to solve a math problem with a 64-digit solution to create new coins.
For each problem solved, one block of bitcoin is processed. The miner who solves the problem first is rewarded with a new bitcoin.
These new coins are then stored virtually through an online database called the blockchain.
Send cryptocurrency on WhatsApp
WhatsApp, a popular messaging app, is testing a cryptocurrency payment feature for some users in the United States.
Meta, formerly known as Facebook, owns WhatsApp and allows some users to send and receive Pax dollars.
Pax is considered a “stable currency” because it is pegged to the US dollar.
The feature is powered by Novi, the digital Meta wallet.
According to Novi, making payments will be as easy as sending other types of attachments in WhatsApp.
There is no word on when the cryptocurrency payment feature might be rolled out to more users and countries.
Robinhood is preparing to launch a cryptocurrency wallet
Robinhood has announced a new partnership with blockchain data analytics platform ahead of its planned cryptocurrency wallet launch.
Robinhood will use Chainalysis data, analytics and software to meet compliance requirements and provide secure crypto transactions, Motley Fool reported.
The partnership comes ahead of the planned 2022 launch of Robinhood’s crypto wallet.
According to Motley Fool, there are more than 1.6 million people waiting for the new feature.
The Perils of Robinhood, Part Three
In July, the platform also ordered it to pay nearly $70 million in fines and compensation for customer misleading and service outages.
If you are looking for a discount broker and looking to open an IRA, you can check out the following platforms: Vanguard and FidelityAnd TD Ameritrade, Merrill Edge, among others.
The Risks of Robinhood, Part Two
For individual stock investing, be sure to review company reports, Securities and Exchange Commission (SEC) filings, broker notes, and press releases so you can make the best decisions for your money.
Another risk when choosing Robinhood along with other brokers is that they can restrict trading when there is unusual activity.
In fact, Robinhood faced some outrage last year when it restricted trading on meme stocks including GameStop and AMC.