Carpe Diem. Carpe Stablecoin! Your source of information about cryptocurrency, stablecoins and the new Facebook currency.
Cryptocurrency marked the rise of decentralized assets. But in the cryptocurrency world, as Novi launched in the US and Guatemala, you will ask What is Paxos dollar or USDP? As you can only use Novi with Paxos dollar for now.
Continue reading “What is Paxos Dollar or USDP? Important for Novi”
Cryptocurrencies are not an alien concept anymore. Several crypto investors are always looking to put something in the bucket of the digital currency world.
However, volatility has always been linked with the crypto world, but now things are changing around — a piece of great news for all the crypto enthusiasts out there. A new cryptocurrency that gets into the eyes that might turn the tables another way around is called Safemoon.
Continue reading “Is Safemoon Crypto still worth it? Should I Buy Safemoon?”
From the last year, the crypto-world is taking a slight drift. There was a sudden drop in the market, which partially crushed most of the crypto-enthusiasts. However, as the market is getting back, Ethereum has taken the spotlight.
Even though Ethereum and Bitcoin are the most popular cryptocurrency and works on a similar blockchain, but there are many differences come along.
So, the question that pops in mind is how and why Ethereum is popular, and what is the difference between Ethereum and Bitcoin? And clear up that space; we are here to help.
Ethereum and Bitcoin get toe-to-toe. When we look at the similarities, there are several, such as both use distributed ledgers and are decentralized, meaning not issued by any authority.
Bitcoin is a cryptocurrency that can do one thing perfectly, but Ethereum is like an intelligent platform that can go a long way while keeping decentralized finances in consideration.
However, If we look at the differences, there are several, which are as follows.
Smart contracts on Ethereum are something that is one of the significant differences. It is a set of codes that run on the Ethereum blockchain, which allows you to run decentralized applications or dapps.
Consider these dapps as something similar to your phone applications, but they aren’t controlled by any authority, which gives you privacy in your financial decisions.
Surprisingly the transaction speed of Ethereum is slightly more than Bitcoin. Ethereum can process 20 transactions in a second with a confirmation time of 5 minutes. While Ethereum 2.0 can process 10,000 transactions in a second.
Bitcoin is in business since 2009, but Ethereum came into the market in 2015. Since it came after Bitcoin, they tried to cover all the aspects of Bitcoin. Also, the Bitcoin network doesn’t send Bitcoins.
Instead, it secures data with the protocols of POP (Proof of Proof) and POE (Proof of Existence), which is why it is more secure and anonymous than Bitcoin.
To sum it up, Ethereum is one of the popular cryptocurrencies that have significant progress over time. People not only use it as a medium of payment instead, but it is also quite popular within the business world, which is why most of the NFTs run on Ethereum.
Diem is also getting a lot of eyes from the people around if you like to see our guide on Diem vs. Bitcoin to understand the key differences.
Hopefully, this post would clarify all the questions related to Ethereum and the key differences with Bitcoin, but if you need anything else, drop by the comment section below, and we’ll get back to you right away.
Crypto mining is taking around the world. Everyone admires earning good passive income, right? This makes mining the best passive earning source.
But hey, can I mine bitcoin on PS5? This is the question that pops in mind for everyone who has the new PS5.
Don’t worry. I am here to explain all about crypto mining on PS5, or is it even possible to mine bitcoin on PS5? If it is, then how can you do it.
Bitcoin mining is a process to mint fresh bitcoins by solving complex mathematical equations with computational energy.
This process is used to verify the bitcoin transactions around the globe, and as a reward, the bitcoins are minted for the miner.
Most people out there with the latest Sony PS5 get this question whether they can mine Bitcoin on PS5 or not?
Yes, it is possible to mine bitcoin using PS5 by installing custom firmware, which was used in the PS4.
You might have seen this claim made by a Chinese team that they have successfully mined bitcoin on PS5 at 99MH/s, which is insane and impossible.
The QR code in the image, which when scanned says, “There is no such software, hahaha,” in Chinese, assuring that this image and this claim are not legit.
In another video of Lewis Hilsenteger, the famous unbox therapy guy explains how this claim is fake. If PS5 could mine bitcoin at 99MH/s, it would be way much expensive than even two thousand dollars.
To understand how crypto mining on PS5 works, you have to understand how mining works at all, what the requirements are, and what do you need to begin, which you can do by reading our post about how you can mine bitcoin at home.
With PS5 on board, you don’t need an ASIC or GPU. You already have that with PS5. However, you can’t mine bitcoin with basic PS5 firmware, and you have to install a customized firmware, preferably Linux.
Next, you have to install the mining software, preferably NiceHash. And that is all you need to do to start mining bitcoin on a PS5.
Crypto mining on a PS5 has certain drawbacks, which you should learn before starting mining.
The hash rate is the speed at which fresh coins are minted. In the case of PS5, you might not get a good hash rate. Hence, not a lot of bitcoins.
Since AMD Radeon RX 6900 XT is one of the latest graphic cards, and it sits around 60MH/s, which means that even the maximum potential of PS5 isn’t going to give you a significant hash rate.
A PS5 normally doesn’t consume a lot of power, and it sits around 200W, but in the case of mining bitcoin, you will probably have to run it for several hours at maximum processing, which is going to take a lot of power.
Unfortunately, you will not be able to earn enough to pay for the electricity costs. Although an ASIC miner consumes much more power than PS5, you will get 90TH/s, which is much better than the Playstation 5.
PS5 is an expensive device that can cost you a fortune to buy in the first place, and with consistent processing, it might get some wear and tear.
According to Venturebeat, the parts of PlayStation 5 alone costs $450, which means minor repairing can cost from $100 to $200 on an average.
Now coming down to the last straw, crypto mining on a PS5 might seems like a big thing but believe me, mining bitcoin on a PlayStation 5 might not be the best idea.
If you are interested in mining, you should go with the right equipment, such as an ASIC rig. Since a PS5 is a gaming console, it would go a long way with gaming.
These are the reasons why most PS5 owners avoid any kind of mining on their devices. But I hope that this post would have answered your question. If you need any help, don’t forget to comment down, and we’ll definitely get back to you.
Do you know investing in stablecoin coins can give you financial stability and security all at once? Listen and follow carefully for the best investment tips you will get in 2021 regarding a secure income.
Of course, there has been an explosion of interest, especially with cryptocurrencies. Meanwhile, lots of people do not understand the intricate dynamics of investing with these coins. As a result, they lose loads of cash daily.
This article fixes the problems you face when it comes to investing in stablecoins.
Let us look at this from a technical standpoint. Since you want to invest in cryptocurrencies, here is a question for you.
Do you trade-invest stablecoins? The answer to this question should be negative because you don’t trade-invest these coins. This is because stablecoins themselves cannot offer you high returns. Volatile cryptocurrencies like Bitcoin are where trading investments can be made.
Meanwhile, there is no need to get discouraged because Investing in stablecoins has helped many crypto traders. Finding out its benefits and turning them into opportunities remain the next action.
Related: WHAT IS A STABLECOIN?
Furthermore, the popularity of stablecoins seems to be massively increasing. While comparing one of the popular stablecoins, “Tether,” to the most popular cryptocurrency, “Bitcoin,” see what we found. The analysis shows that the largest stablecoin, “Tether,” trades more volumes than Bitcoin. This happens daily, and as I speak, trades are ongoing.
The secret behind this success is the major benefits investing in stablecoin offers to traders.
These three points below summarize the benefits.
Now let’s take a careful look at these listed points.
The growing popularity stablecoins have gained can be attributed to how swift transactions are carried out. Having not only made it a good investment platform, but it also becomes a popular value-transfer system across the crypto ecosystem.
You will find out that in January 2020, six top stablecoins surpassed the Ethereum network in the transfer of values. These stablecoins were(USDC, GUSD, USDT, DAI, PAX).
Investing in stablecoin is beneficial, especially when it is now on record that it has started challenging FX providers. Venmo is a testimony to this fact, as well as many other FX providers. Records have it that the quarterly growth rate of stablecoins was 300% compared to Venmo’s 23% in the 2017 year.
These facts point to the clear truth that stablecoins could replace most traditional payment providers in the nearest future. With the look of events, it will grow beyond a trading tool into a means of payment.
With the cryptocurrency explosion at the tail end of 2017, stablecoins gained a great deal of popularity. Most especially the USD-backed tether stablecoin. As a result, the rate of people investing in stablecoins also increased.
Lots of crypto traders saw this asset as equipment to hedge risky prices. This was during the period when many cryptocurrencies including bitcoin faced wild volatility. The need to invest in stablecoins was now the only way out of the box.
During that period, there was an outstanding growth for most stablecoins, especially Tether. Tether stablecoin also experienced a 130x increase by the end of 2017. comparing with historical gains, Tethers previous $10 million during early 2017 spiked to $1.3bn during year-end.
Seeing the massive explosion, most stablecoins followed the success trend. Among these stablecoins are PAX, TUSD, USDC, and DAI. Other narrowed exchange stablecoins also joined the trail. An example is the Binance USD(BUSD).
One powerful feature of most of these stablecoins is the similar fiat currency backing them up. It has also been observed that the United States of America Dollar is the backbone for lots of these fast advancing stablecoins. This is the secret behind the stability of these coins.
Crypto merchants chose USD mostly because it is universally considered as the reserve currency known to the world. The USD is also required for most international exchanges in the world. This has made most crypto traders express confidence while using tokens backed by the USD as trading cash. In like manner, while investing in stablecoins, it will be nice to consider USD-backed coins for double security.
For individuals who wish to make loads of cash from their stablecoins, platforms are available for such. Some of these platforms are also loan providers who are willing to pay interest for invested capital. Some of these platforms include Nexo and Celsius Networks.
These USD-based stablecoins are accepted and Lent out to borrowers, Just like Banks and most financial institutions do. Borrowers also pay the fixed, predetermined interest rates. This also provides revenue for investors on the platform.
While investing in stablecoins through this means, you are sure of higher interest rates over traditional interest rates local Banks provide. For some platforms, interest rates exceed 6%, while in some cases, it is more. For instance, investing in margin lending funds can fetch over 20% interest rates. These benefits so far come only while investing in stablecoins.
It is important to check out the reviews of platforms before investing. This will help you stay away from scammers and fraudsters.
Do you have questions on this topic?
Go down to the comment section and post for clarifications.
The Best crypto wallets in 2021 for exchanging your cryptocurrencies are essential topics you should be aware of. This will enable you to make the best choices as regards crypto wallets with the best security.
Because most of these crypto coins have lasted a long time, many people seem to be interested in them. An example is the Bitcoin cryptocurrency. No matter how volatile this coin becomes, it looks as if the coin never goes away. Presently one bitcoin is worth over a thousand US dollars. This coin, from time to time, still appreciates.
As a result, finding the most suitable wallet to secure these coins is quite necessary. Also, many wallets are available, but not all these wallets are safe to store your digital cash. Therefore, the best crypto wallet in 2021 should be used for transactions. This will guarantee your own security and protection.
Related: Bitcoin versus Facebook DIEM
Along with that, there are lots of issues associated with the possession and safekeeping of crypto coins. One of these issues is hacking. The activities of hackers daily put owning and exchanging cryptos at risk. Individuals have complained about how they lost huge amounts to these malicious hackers. This tells you the importance of choosing the best crypto wallet in 2021.
Generally, all crypto wallets fall under the cold or hot wallet category.
That is to say that all wallets used for storing crypto-currencies are either Hot or Cold crypto wallets.
Cold crypto wallets store cryptocurrencies offline. This is one significant difference between cold and hot crypto wallets. The cold wallets are not attached to the internet.
This “wallet-base” provide a friendly platform for individuals seeking control over their crypto-coins. Digital threats are reduced with this base also. This is because of the offline nature of this category.
The cold wallet only faces physical threats like device damage. Other factors like theft and robbery also affects the cold wallet. Apart from that, the cold wallet is very secure for the safe keeping of crypto currencies.
A number of the best crypto wallets in 2021 are found under this category also. This has made lots of people prefer it to the hot crypto wallets.
Lots of reasons give rise to customer choices. These reasons result from lots of factors and experience.
Hot crypto wallets are online-based crypto wallets. These wallets house cryptocurrencies with internet services. This is the kind of wallets that is rapidly used by lots of crypto investors and traders.
As many analysts have said that it is a better option, the risk factors are so alarming. Crypto hot wallets are prone and more likely to face threats from hackers and fraudsters. The reason for this is because accounts can be accessed from different parts of the internet.
However, does not totally make the crypto hot wallet unable to be used. On record, most crypto traders using online wallets say they are the best crypto wallets in 2021.
Mycelium wallet is a Crypto hot wallet rated as one of the best in 2021. This wallet has proven itself to be beginner-friendly. That is to say, for crypto traders who just started, this wallet is the best one they can opt for.
The Mycelium wallet houses and supports only the bitcoin cryptocurrency. This wallet has a built-in exchange; it is also user-friendly. Please note that this wallet only works on mobile devices.
The wallet also has hardware wallet support, permitting offline storage by users. All these qualities make it get seen as one of the best crypto wallets in 2021.
Exodus crypto wallet is a hot wallet that is free to purchase. This wallet is both mobile and desktop compliant. It is also very simple to use with an in-built exchange.
One outstanding feature of the Exodus wallet is how it provides for the swapping of crypto-coins. Right on the exodus platform, swapping of more than 100 cryptocurrencies is permitted with this wallet.
Also, it is easy for beginners to use, and You must note that the Exodus wallet is a closed-source kind of wallet.
The HitBTC is one crypto wallet that has existed for a long time now. HitBTC wallet allows the depositing of FIAT currencies through wire transfer. The trading fees of hit BTC are relatively low, giving room for low-budget investors. This quality and more permits HitBTC to be among the best crypto wallets in 2021.
The Trezor crypto wallet falls under the cold wallet category. This crypto wallet is otherwise known as the Model. Trezor wallet is the second generation of hardware wallets that have been created. This is one wallet that houses third-party exchanges.
Also, Trezor wallet accepts various cryptocurrencies on its platform. Trezor wallet is purchased with money, and it cost $170.
Moreover, Trezor is friendly and safe for new users as such news has gone wild that it is among the best crypto wallets in 2021.
Coinbase crypto wallet is one wallet where you alone get to monitor your transactions. This also is a wallet that is easy to use. One does not need a coinbase account to qualify using this crypto wallet.
Coinbase, founded in 2012, has been licensed and regulated in over 40 states in the USA. This crypto wallet was previously meant for bitcoin alone. Presently this wallet has diversified to house over 26 cryptocurrencies.
One benefit of trading with coinbase wallet is that it is also beginner-friendly. When you look at the wallet’s reviews, it is believed that it ranks as the best crypto wallet in 2021.
Other crypto wallets that are safe and user friendly are
It is very important for one to understand these wallets before use. If possible, look at the reviews firsthand and know if they fit your desired need. This will enable you to use the best crypto wallet in 2021.
Leave your comments in the comment section for help and clarification.
Stablecoins are quite different from most cryptocurrencies like the popular Bitcoin. Would you like to know about some famous stablecoins out there? The best stablecoins in 2021 are those coins that have survived the waves and tides of the horrendous sea.
See: stablecoin(DIEM) VS BITCOIN.
When you hear stablecoins, there is one major characteristic associated with them. It is how the value is being tied to something different from the normal algorithmic process. The attachment of a reserve is what makes it volatile proof.
So, there are plenty of stablecoins in the market and probably circulating. This post will handle the following 6 best stablecoins in 2021, which you never knew before.
The Paxos Standard Token is short-called PAX. This stable coin was built as an alternative to the Tether crypto. Just like the most stablecoins, the PAX is backed by the US Dollar. This quality also makes it among the best stable coins in 2021 for investment.
Also, the PAX coin is stored in treasuries that operate under the government. This coin is also built to run on the blockchain platform for ethereum. It is one stablecoin that has gained the New York state’s approval, especially the financial department.
However, For the fast-developing crypto space, this has been perceived by many as a huge plus. In-fact the PAX stablecoin is not just one of the most used coins in the market. It is also one of the best stable coins in 2021 and beyond.
At the rate at which this coin is growing, it is soon to become the most popular in a short while.
Lots of individuals have also shown satisfaction concerning PAX being trustworthy. Some even believe that this coin is soon to replace the tether(USDT)
True USD is one stablecoin that has kept the tough fight between itself and Tether(USDT). Surprisingly, this coin has not only competed favorably but seeks to overthrow the USDTcrypto
Additionally, as much as the TUSD is not circulating rapidly, this coin seems more promising regarding transparency. A collaboration with a United States Accounting group seems to be a smart move. This was done to enable close monitoring of assets.
This stablecoin can also serve as a second option for purchasing traditional FIAT. That is to say that individuals outside the US who wish to purchase Dollars can go for this second option. Lots of individuals have also voted this currency as one of the best stablecoins in 2021.
This is also one of the best stablecoins in 2021 circulating presently. USDT also has the backing of the United States Dollar, which also makes it volatile proof.
This stable currency is one of the first stablecoins to have existed. Now over 94% volume of all stablecoin tradings is done with the Tether coin. Traders now prefer Tether, probably because it track-records their investments for them. Most merchants combine this currency with ethereum for utility. Generally, It is felt as a localized dollar.
Why is the tether considered the best stablecoin in 2021? It is because of its ability to be converted to other assets. It does not even need to pass through other cryptocurrencies like bitcoin.
The parent company of this cryptocoin is BitFinex, and this coin asset is not audited. As a result, lots of experts have raised objections, as this act is suspicious. However, nothing has come off it as even lawsuits came to nothing.
The tether is currently rated equal to the Dollar on a 1:1 ratio scale. All this proves that this is one of the best stablecoin in 2021 around the world.
The Binance crypto otherwise called BUSD is the brainchild of the Binance exchange company. This coin was set up by a collaboration of companies.
The most popular companies that had hands in this were the Binance Exchange and the Paxos trust company. The PAXOS Company is also the team that set up the earlier mentioned Paxos stablecoin.
This coin is one of the best stablecoin in 2021 powered by ethereum but has the Dollar as its asset. Merchants who trade with this coin have also expressed great satisfaction resulting from received discounts.
The news is now all over the place that benefits and discounts are attached to trading the BUSD.
This currency also helps in the payment of trading fees on the exchange. Probably that is why it is held in US banks that are FDIC insured. Not only is binance the largest exchange globally, but it is also one of the best stablecoins circulating in 2021.
Forgetting, not to mention, the BUSD permits you to earn just by stacking them up. So the longer funds are locked in, the more it increases its value by providing INTERESTS.
The Goldcoin is one of the best Stablecoins backed by Gold assets. This cryptocurrency is backed by the Ethereum blockchain network, while it allows the purchasing and holding of assets. These assets are held form of the cryptocurrency.
You may start to wonder about the essence of buying Goldcoin instead of the traditional Gold asset. The reason why this should be preferred is because of how you need not worry about security. The Goldcoin allows the purchase of Gold in fractional units and still secures it in high-security vaults free of cost.
Should you demand payments in physical Gold Bars that Goldcoin guarantees? The only issue is the rigorous process where you will have to provide identity. This, however, discourages merchants from investing. Aside from this issue, the anonymous purchase of Gold through the Goldcoin is the fastest and safest means.
As a result of these qualities, calling the Goldcoin under the best stable coin in the 2021 group is verified.
The Facebook Diem looks as if it might top the rank of best stablecoins in 2021. Although this stablecoin is not yet in circulation, there is no need for doubt with the preps being made.
This coin was known as the Facebook Libra in 2020 but changed to Diem in 2021. Since the world keeps growing smaller resulting from technological advancements, local currencies might be inefficient in time to come.
In a Global village, there should be a universally accepted currency. A lot of experts predict that cryptocurrency will be the new normal as regards easy exchange.
If the truth should be told, such statements are either true or not far from it.
If you have any questions left, feel free to drop in comments section for quick responses.