The Zambian government is exploring the use of technology to regulate the country's cryptocurrency industry, according to Finance Minister Felix Mutati. Mutati revealed that the government is testing blockchain-based solutions to track cryptocurrency transactions and ensure compliance with regulatory standards.

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Speaking at a press conference in the capital city of Lusaka, Mutati said that the government recognizes the potential benefits of cryptocurrencies but is also mindful of the risks they pose. He emphasized the need for a regulatory framework to balance innovation and consumer protection.

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"We want to create an environment that encourages innovation and investment in the cryptocurrency sector while also safeguarding our citizens and the integrity of our financial system," Mutati said.

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To achieve this, the government is working with various technology firms to develop solutions to track and monitor cryptocurrency transactions in real-time. These solutions will also enable the authorities to identify and investigate suspicious activity or potential fraud.

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According to Mutati, the government is also exploring the use of blockchain-based digital identities to enhance Know-Your-Customer (KYC) procedures and combat money laundering and terrorism financing.

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Zambia's move to regulate its cryptocurrency industry comes as the global interest in digital currencies continues to grow. Several other African countries, including Nigeria, Kenya, and South Africa, have also taken steps to regulate the use of cryptocurrencies.

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Local experts and stakeholders have welcomed the Zambian government's efforts to regulate the cryptocurrency industry. They believe that the move will not only promote innovation and investment in the sector but also enhance the country's financial inclusion efforts.

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However, some experts have cautioned that the government needs to strike a balance between regulation and innovation to ensure that it does not stifle the growth of the cryptocurrency sector.

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Overall, the Zambian government's move to test blockchain-based solutions for cryptocurrency regulation underscores the growing recognition of the technology's potential to promote financial inclusion and innovation. It remains to be seen how successful these efforts will be, but they represent a positive step towards creating a more transparent and secure cryptocurrency ecosystem in Zambia.

Victor Utomi

Zambia Tests Crypto Regulation

In a stunning turn of events, the cryptocurrency market has rallied once again, with Bitcoin leading the way to a price of $25,000. This surge in value has been accompanied by a total crypto market cap retest of the $1.13 trillion resistance, marking a significant milestone for the industry.

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Bitcoin, the world's most valuable cryptocurrency, has been on a tear over the past few weeks, with its price soaring to new heights. The digital currency has seen a steady increase in demand as investors flock to it as a store of value amid global economic uncertainty. Bitcoin's value had now exceeded $25,000, a level not seen since its historic price surge in 2021, reaching its all-time high when its value exceeded $65,000.

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This surge in Bitcoin's value has been mirrored across the cryptocurrency market, with other digital assets also seeing significant gains. Ethereum, the second-largest cryptocurrency by market cap, has also surged in value, nearing a new all-time high of $2,000.

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The total market capitalization of the cryptocurrency market has also surged, with a retest of the $1.13 trillion resistance level. This is a significant milestone for the industry and marks a continuation of the bullish trend that has dominated the market over the past few months.

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The surge in value has been attributed to a number of factors, including increasing institutional interest in Bitcoin and other digital assets. A growing number of mainstream companies are now investing in cryptocurrencies, with some even holding Bitcoin on their balance sheets.

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In addition, the COVID-19 pandemic has highlighted the need for alternative investment options as traditional markets continue to be impacted by the global economic downturn.

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However, as with any volatile market, there are risks involved. Cryptocurrencies are notoriously volatile, and investors should exercise caution when investing in them. Nevertheless, the current rally in the cryptocurrency market is a testament to the resilience and potential of this emerging asset class.

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As the cryptocurrency market continues to mature, we can expect to see more institutional interest, greater adoption, and increased regulation. But for now, the rally to $25,000 and the total crypto market cap retest of the $1.13 trillion resistance level indicate that cryptocurrencies are here to stay and have a bright future.

Bitcoin Rallies to $25K in a Historical Turn of Event

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Tesla, the electric vehicle and clean energy company, reported a loss of $140 million in their 2022 bitcoin holdings in their latest financial statement.

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The loss, which is attributed to market volatility in the cryptocurrency, has sparked concerns among investors and industry experts. Despite the setback, Tesla CEO Elon Musk remains optimistic about the future of bitcoin and the company's continued investment in the digital currency.

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In a statement to shareholders, Musk explained that Tesla's investment in bitcoin is part of the company's commitment to furthering the adoption of cryptocurrencies. He emphasized that the current market conditions do not affect the company's long-term vision and belief in the potential of digital currencies to become a more widely accepted form of payment.

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The announcement of the loss has also raised questions about the wisdom of investing such a large portion of the company's funds into a highly volatile asset. Some experts have suggested that the risk inherent in cryptocurrency investments may not be suitable for companies with a diverse range of business interests, like Tesla.

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However, others argue that the dip in the value of bitcoin is a temporary setback, and that the long-term outlook for the cryptocurrency remains positive. They point to the growing institutional interest in bitcoin and other digital currencies, as well as the increasing number of companies offering bitcoin as a payment option.

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Despite the loss, Tesla's stock price has remained relatively stable, indicating that investors are not overly concerned about the company's bitcoin holdings. However, the incident highlights the need for caution and careful consideration when investing in the highly volatile cryptocurrency market.

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Tesla's experience with bitcoin serves as a reminder of the inherent risks of investing in digital currencies, and the importance of understanding the market and the technology behind it. Nevertheless, the company's commitment to cryptocurrencies and the belief in their potential to disrupt the traditional financial system continues to drive innovation and growth in the industry.

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Tesla's Crypto Adventure Takes a $140 Million Hit: Company Reports Bitcoin Loss in 2022

The crypto space had a forgettable 2022 and Bitcoin had its fair share of the bumpy ride. Bitcoin started the year selling at $46,700 and ended the year 2022 trading at $16,547.50. Bitcoin started the year with a market capitalization of $900 billion and ended the year with a market cap of around $320 billion losing nearly $600 billion. The crash leaves a lot of questions on everyone’s mind and the biggest of all the questions are, will the decline continue or will Bitcoin rise again?

## **Historical price changes**

At the time of writing, Bitcoin was trading at $21,116.09 on major exchange platforms. However, Bitcoin started the year trading at $16,540.69 and has gradually climbed. Since its inception, the price of Bitcoin has never remained the same for long. In the last decade starting from 2013, Bitcoin ended the year at $755.16 after hitting the highest price of $1,127.45 the same year and never reached the thousand-dollar mark until February 2017 when it reached $1,190.33. it maintained the climb, and never fell below the thousand-dollar mark when it got to $61,837.26 in October, which is the highest price in history. What began as a gradual climb in February 2017 can be regarded as the turning point for cryptocurrency as it has maintained its stride and never fell below the thousand-dollar mark.

## **Price prediction for 2023**

With Bitcoin’s halving event approaching there is a sense of a bull run among holders. If we follow the analysis of past halving events, which occur every four years, one can easily point to a positive turn for the cryptocurrency at each halving event.

* In 2012, when the halving event occurred, Bitcoin’s price was 12.35.
* In 2016, when the next halving event occurred, Bitcoins price on the halving day was $650.53
* The next halving event occurred in 2020 and the price was $8,821.42.

With the having event nearing, finance experts are predicting a surge in price which is good news for investors.

## **How to predict Bitcoin’s price**

* Fundamental analysis; this is the evaluation of Bitcoin’s market ranging from politics to economic conditions.
* Technical analysis; this involves statistical trends and is based on indicators such as price movement, price charts, and patterns.
* Quantitative analysis; quantitative analysis is a combination of fundamental and technical analysis and it looks at Bitcoin’s market performance. 

## **How to buy Bitcoin**

Crypto exchanges are the most popular places for anyone looking to buy Bitcoin. However, several apps now enable crypto trading. Interestingly, Switchere offers users the best ways to buy crypto.

Bitcoin Price Prediction 2023

Bitcoin has been around for more than a decade and if there is anything that has remained constant about the coin everyone now sees as the king of the crypto sphere, don’t mind me, it is rather the blue-chip crypto, it is its volatility. Bitcoin has been in use for over a decade, having been created in 2008 to eliminate middlemen. How better bitcoin can become? No one knows for sure. There is no such thing as a fortune teller. 

Since its inception, the price of Bitcoin has never remained the same for a long time and this is perhaps the allure for many people. Bitcoin’s market is primarily affected by how many coins are in circulation just like other commodities, assets, and investments. Bitcoin's price depends on supply and demand. By design, Bitcoin is limited to 21 million coins, and the closer the circulating supply gets to this limit the higher prices are likely to climb. 

However, it is difficult to predict what will happen to prices when the limit is reached. The crypto industry is experiencing a bear market which is clearly a period of time when crypto asset prices drop by 20% or more and remain so for an extended length of time. Interestingly, this is always the best time to stockpile assets for HODLers and the best time to sell for people who are ravaged by FUD. 

As with every other asset, the best time to buy is the period that prices are down. Hence, this is the best time to buy Bitcoin, for people who have faith in the coin. 

Cryptocurrency analysts and experts pique Bitcoin to become the currency of the world in the nearest future- this goes beyond any doubt as Bitcoin has maintained strong potential and steady growth since its inception over a decade ago.

Many of the brightest minds in crypto accept the ambiguity, acknowledging that we don't know. Perhaps this is part of the allure. "Most of the largest use cases in ten years will be things that seem ridiculous to us today," says Elizabeth Stark.

However, Bitcoin's decentralized status and security pits it as the leader of the crypto industry and this is one reason Bitcoin is going to be the world’s currency in the future.

## **Is Bitcoin a Genuine Currency?**

Bitcoin is, in fact, actual money. Because it is entirely online, real notes or coins are not available. You can use it to make purchases, but not all stores accept it just yet. Although, it is illegal in several countries, including Russia, Vietnam, and China, since it is not seen as a genuine payment method. It is extremely risky, yet some have made millions from it.

Bitcoin Solely Exists in the Virtual World. Why is Btc Valuable?

Several factors determine Bitcoin's value. Finally, both crypto and fiat currencies have value because people trust them. Money is likely to have value as long as the public trusts in the fiat system. We can argue the same thing about Bitcoin: it has value and people feel it has worth, there is far more to explore.

Blockchain technology has security, utility, and other advantages. Unlike fiat currency, Bitcoin has no central bank, and its decentralized nature has enabled the development of a unique financial system. It also provided a novel method of dealing with the worldwide transfer of value. Bitcoin, like gold, may serve as a store of value in numerous ways.

Is Bitcoin an Acceptable Payment Method?

The most significant advantage provided by Bitcoin — or, more precisely, the bitcoin network — is creating an entirely open system of trading.

## **What is the Blockchain's Degree of Transparency?**

The transparency of Bitcoin may concern those individuals and corporations that wish to avoid openness, such as the non-declaration of different taxes. However, in addition to serving as a public log for every financial transaction on the Bitcoin network, the blockchain may be modified to meet other purposes such as file storage, property ownership, asset trade, and even validating the production process of medication. The opportunities are indeed only limited by human inventiveness.

## **Further Downsides to Using Blockchain**

An institution can dominate a blockchain network if it controls 50% or more of the units, rendering it unsecured. Another issue is that once data is written, it cannot be deleted. **Everyone on the planet has the right to privacy.** 

However, if the same individual uses a blockchain-based digital service, he may be unable to delete its trail from the network if he does not want it to remain there. In other words, there is no way for him to erase his imprint - this severs his privacy rights.

## **Is Bitcoin on its Way to Becoming a Global Currency?**

Bitcoin is either a volatile market or a future digital currency. The truth is most likely somewhere in the center. In any case, Bitcoin is gaining ground in the traditional financial sector, attaining the magnitude and vital force that will make it very difficult to remove or constrain.

What Happens if Bitcoin is Regulated?

That would be dependent on the sort of regulation. The United States currently controls Bitcoin trading through exchanges in various ways, such as limiting its value for money laundering, yet this has not influenced its growth.

If they introduce rules that make it more difficult for fraudsters and criminals to steal Bitcoin, or if they give extra safeguards for Bitcoin holders in the same way that savings accounts provide, I believe the value of Bitcoin will rise. If they make it more challenging to acquire or keep them, raise taxes on them, or do anything else that makes them less appealing, you may anticipate their value to fall.

## **Final Thoughts**

The birth and introduction of Bitcoin to the crypto industry was a revolutionary idea, and it is gradually and seemingly becoming a permanent part of the financial sector. Interestingly, unlike other coins, the chance of Bitcoin becoming a global currency is almost certain. Bitcoin is here to stay regardless of what we do or think.

 

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Bitcoin's Prospects In A Bear Market

Shiba Inu's conquering of a new billion-dollar market has raised hope in investors, holders, and traders. However, as usual, the big question is, will it drive the price of SHIB to a new height?

Despite being a new addition to the crypto sphere and marketplace, meme coins have emerged as one of the most vital assets within the crypto ecosystem. Shiba Inu is by some distance the most sensational meme coin. It is gaining unprecedented traction and making an unusual wave in the meme coin sphere as available data shows that Ethereum whales remain the largest holders of the SHIB token.

Strategic partnership and collaboration have seen SHIB reach new heights in the meme token market and have continued to drive its growth and development. While most meme tokens are struggling to find their feet or stay afloat in a bear market, Shiba Inu has managed to pen a massive deal which could be the beginning of a boost in the price of the meme token.

According to a recent announcement, the crypto payment solution provider, BitPay has partnered with footwear maker, Atheist to accept Shiba Inu for payment. Interestingly, the partnership comes with a 10% discount for users who will pay with SHIB; however, the discount only lasts for a short time.

This development and others in the past, and the offing, have seen SHIB seemingly grow into a utility token that is accepted as a legal tender on most platforms. SHIB has within a short time also grown into one of the most widely used utility assets among other cryptos.

As Dogecoin and other meme tokens continue to lag, Shiba Inu has taken the lead to become the most vital meme token. It has a wilder community and enjoys robust support from its community.

As part of the revolution the SHIB ecosystem is witnessing, even Binance boosted its visibility after adding the king of meme tokens to the Binance card which now enables Visa Card holders to spend SHIB at about 60 million merchant outlets around the world.

Initially developed as an alternative to Dogecoin, SHIB has taken no time to take the driving seat of the meme ecosystem. It is one of the most widely used meme tokens for transactions, with several businesses already integrating it for payment via BitPay. The partnership with BitPay is another important milestone and will also help SHIB to consolidate its position as the leading meme token.

Shiba Inu Conquers New Billion Dollar Market

The Crypto space is ever-changing, fast-paced, and never static. With more people getting attuned to the benefits of digital currency, there seems to be no end to the number of innovations that is possible in the crypto world. 

One keeps wondering whether there will ever be a day, week, month, or year that there isn’t a project floated on the mainstream.

The more the merrier. That sounds like a cliché borrowed from a movie scene. However, it is the dynamism of the projects that have had the driving flux on the inflow of users to the crypto sphere. One project that has continued to awe investors and traders is Shiba Inu. Although the price of Shiba has left investors wondering how they could get back an ROI that is synonymous with their investment. However, the recent developments across the Shiba Inu ecosystem guarantee a massive rise in the price of the meme token before the fall of 2023. Investors can smile again.

## **More than just a tweet**

Fidelity Investments, a US-based crypto firm has announced that it is considering listing the popular meme token, Shiba Inu, on its digital asset trading platform following a tweet from a prominent influencer from the Shib army. The digital asset trading platform which only supports Bitcoin (BTC) and Ethereum (ETH), in a response to the tweet from a member of Shib Army urging the platform to consider integrating Shiba Inu into its trading app, said that there is a plan underway to integrate Shiba Inu and other crypto tokens in the future as they look to expand crypto trading activities on their platform.

Fidelity Investments offer zero-commission transaction services to investors.

The zero commission was only launched in November and one of its services, Fidelity Crypto, is designed to enable retailers to buy and trade BTC and ETH on the platform.

Furthermore, Fidelity Investment provides custody services for all supported crypto tokens via its subsidiary, Fidelity Digital Assets. 

Many users of the platform have registered interest in crypto, and the American Crypto Service Provider is committed to providing them with the right tools and support to make their choice. 

## **Will the listing make the price of Shiba Inu Soar?**

With the development, many would want to know if SHIB's price will soar. We can take a cue from the listing of crypto to major exchange platforms. And if there is anything to take, it is that prices always soar after a listing on a major exchange platform.

Fidelity Investment has assets under management valued at over $4.5 trillion. While the company itself is valued at over $3.6 billion. The valuation makes it one of the big players in the financial investment space. Hence, if SHIB gets listed on the platform, it will help in the massive adoption of the meme coin as well as push it a step above its main rivals.

With rival meme coins fast losing ground in the race of who becomes the blue-chip meme token, Shiba Inu is poised to become the king of meme tokens and the meme token of choice among retail traders. The good news is, a listing on Fidelity will help SHIB gain traction in the crypto space.

SHIB is up by 1.30% in the last 24 hours and trades at $0.000009188, according to recent data. Following the listing of SHIB on another major exchange platform, Robinhood, a commission-free trading app, it is only a matter of days before the Shiba Inu army gets their wish. If we go by antecedents, the price of SHIB could reach between $1-2 before the end of 2023. Better days are surely ahead for SHIB holders, investors, and traders.

Shiba Remains the King of Meme Coins

Non-fungible tokens are rapidly becoming a goldmine, with prices striding into millions of dollars. This creates a tendency for the occurrence of mind-blowing sales in the NFT world. NFTs have been sold for more than the price of a gold bar in recent times and there have been instances where an NFT garners more than $69 million and even what could be referred to as an ordinary tweet has been sold for more than $2.9 million.
Given the rate of adoption of NFT as a virtual currency and the number of mind-blowing sales that have been witnessed in recent times, it is safe to say that we are in for a long ride in the NFT world.
NFT has the knack for producing life-changing money. This claim is corroborated by an event in 2021 that saw Mike Winkelmann sell an NFT for a whooping sum of $69 million which invariably opened the floodgate of strings of other expensive sales, worth several million in dollars.
2022 has seen an increase in momentum, with NFT garnering so much attention from artists, collectors, and investors alike. This article is expected to give you a glance at the top 10 most expensive NFTs ever sold in human history.


1. **The Merge- $91.8 million**  

The Merge sits at the top of the ladder as the most expensive NFT that has ever been sold. Created by Pak, an artist or group of artists whose true identity remains unknown up to this day. Pak occupies a large portion of the digital art space.
The Merge is a renowned mash-up of masses that anyone can buy. Hence, it is not a static piece of art. The Merge consists of three large dots superimposed against a black background that increased in size as the number of buyers went up.
**2. Everydays: the first 5000 days - $69.3 million**

The next most expensive NFT ever sold is the creation of Beeple, the first 5000 days. It is an amazing collection of 5000 pieces of artwork that differs in style, medium, and content created every day, starting in 2007 by Beeple. They, however, have one thing in common. They rely heavily on dystopian or satirical settings and are highly appreciated by NFT enthusiasts and collectors. Interestingly, it remains the most expensive collage of NFT art sold to a single owner. Given the spate of amazing collections in NFT, it will only be a matter of time before this record is broken.
**3. Clocks - $52.74 million**

The clock was created to raise funds to defend the founder of WikiLeaks, Julian Assange after his controversial imprisonment in 2019. Julian was facing charges of espionage due to his association with WikiLeaks and the clock showcased the number of days he had spent behind the bar.
Over 10000 supporters own a share of the NFT. The NFT had a price tag of $56 million.
**4. Human One - $28.9 million**

The next item on this illustrious list is another NFT artwork created by Beeple. Human One is a digital and physical hybrid artwork.
One of the things that make Human One a Unique piece of artwork is the fact that it keeps changing over time. Beeple retains remote access to the NFT; hence, they update it periodically. Human One illustrates an astronaut ambling through the different backgrounds that change over time.
**5. CryptoPunk #582 - $23.7 million**

CryptoPunks stands out as one of the few NFT collections to have achieved cult status. The project was launched in 2017 and twice sold for a record-breaking price. CrpyoPunks was inspired by the London punk scenes which many believe are still alive, the cyberpunk movement, and music artists like Daft Punk. It was launched by Larva Labs and by merit is on this list as the 5th most expensive NFT ever sold.
There is a good reason for the selling price of this popular token. It is part of the series “rarest alien edition” of which only 9 exist out of the 10,000punks available. Given that this token is one out of 333 others with a bandana and how rare it is, we can expect it to remain one of the most expensive NFTs ever sold in human history. It was purchased by Deepak Thapliyal, the CEO of Chain.
**6. Alien Cryptopunk #7523 - $11.75 million**

Bought by Shalom Mackenzie, the largest shareholder of DraftKings, Alien CryptoPunks is one of the rarest commodities in the crypto world. It is also one of the 9 alien Punks minted by Larva Labs and does come with exclusive accessories like a medical Mask, Knitted cap, and earrings. It is dubbed the Covid Alien.
**7. TPunk #3442 - $10.5 million**

Given that we have seen how rare and valuable the Alien Punks are. However, there is a different breed catching the attention of investors in the NFT world and they are the TPunks. TPunks don’t usually sell for much. However, they are seen as Tron’s version of CryptoPunks. This one resembles the joker and was bought by Tron co-founder and crypto mogul, Justin Sun.
**8. CryptoPunk #4156 - $10.26 million**

Making the list of the most expensive NFTs ever sold to date is another Punk. However, this time it is CryptoPunk #4156. The sale is believed to have been triggered by the pseudonymous collector Punk4156 becoming disillusioned with the project and the way Larva Labs handled its communication, licensing guidance, and community engagement.
**9. CrptoPunk #5577 - $7.7 million**

Put up another number on the list, and another CryptoPunk makes the list. CryptoPunks experienced an NFT frenzy in 2021 and since then, there seems to be no slowing down. This token was sold for $7.7 million back in February this year and was bought by Robert Leshner, founder of the Compound DeFi protocol.
**10. CryptoPunk #3100 - $7.6 million**

Capping off our list of the most expensive NFT ever sold is CryptoPunk #3100. Given the number of CryptoPunks that appeared on the list, one can safely say that the token has a special place in the hearts of NFT collectors and art lovers all over the world. The token happens to be one of the rare alien avatars wearing a white and blue headband. Interestingly, there are only 450 other Punks with headbands which makes CryptoPunk rarer than can be imagined.

Top 10 Most Expensive NFTs Ever Sold

The use of cryptocurrency is becoming increasingly popular by the day, and statistics say it will only increase because more people have embraced the digitization of money.

Blockchain technology is, without a doubt, demonstrating to be a new leader in the global standing of economic systems.

And the birth of decentralized finance and cryptocurrency trading based on blockchain has done so much to refurbish the crypto market in the last few years.

Decentralized Finance (DeFi) exchange platforms have made a deep incursion into the market, mainly because of further development and advanced options introduced by crypto exchanges to promote cryptocurrency trading in different parts of the world.

Such development includes, among others, the option for crypto loans to clients, tokenization of crypto assets, the creation of stablecoins, and a lot of other positive developments that have played a considerable role in the advancement of the crypto industry.

Another essential factor offered on DeFi (Decentralized Finance) is Derivatives Trading. Since launching derivatives trading in the USA, it has received countless positive reviews from different parts of the world. It has had a staggering 40-50 percent growth daily.

Hence, it becomes essential to talk about these crypto derivatives, why they have become investors' top choices in the crypto industry, and why many exchanges are now considering offering the option of trading crypto derivatives to their customers. \n  ![](https://lh4.googleusercontent.com/3-1gjTjEORU0Blgvuf_zNdv6RsDZ2VBIcmiNYfY0B_Mlj6VGhxCHpI29jHt732x3UEFCo05PrxMnZpM5H4D95Z1qquIOmM9shsYVV7MEYGMmT6kIY6eBEssjmXC4AAxSJaDD4tzN7bF9oPVeS0Kc6CtkCOGoM0hefjJLHQOs-oowMVxrV3k-foXaXVy19A)**Crypto derivative opens crypto traders to a world of new possibilities**

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**What is Crypto Derivative Trading?**

Crypto Derivative is a specific term with a straightforward definition taken straight from the dictionary; however, to get an accurate description of crypto derivatives, we must step back and take a cue from financial markets and investments.

In financial market terms, derivatives are agreements or a treaty that summarizes the deal to sell or buy an asset or a product at a price agreed on before the treaty is signed at a pre-decided date in the future between two parties which can be persons or organizations.

However, in the case of crypto derivatives trading, the parties involved base their contract on speculation of the price of cryptocurrencies on an agreed date in the future.

On the future date agreed upon, the parties involved are obliged to buy or sell depending on the nature of the contract signed.

Irrespective of the market price at the time. Regardless of whether the prices have fallen or risen.

Crypto Derivatives trading is effective on CeFi or DeFi exchanges. However, the idea is to evade the risk of volatile assets, especially those commodities or assets that experience sudden rise and fall in prices.

Furthermore, Derivative crypto trading is based on the extermination of the risk involved with volatile assets, not for gain.

For instance, a trader may predict that a particular cryptocurrency will experience a price increase in the future. The trader may then go ahead and buy a certain amount of cryptocurrency. Again, if the trader foresees the fall in the price of a particular cryptocurrency, the trader can now sell to forestall loss.

Warren Buffet has described the Derivative trade as a financial weapon of mass destruction because of its shaky nature. Interestingly, it has been used for some good, implying that trading on crypto Derivatives is not an altogether negative venture.

**Types of Crypto Derivative**

Crypto Derivatives are becoming popular by the day, and there is a chance that they will garner more popularity as time goes on. At that point, more derivatives will become a part of different trading platforms; however, at this point, there are just four types of crypto derivatives that can be traded on the platforms that offer them to clients.

**Swaps** \n  ![](https://lh5.googleusercontent.com/ZF5_D1ttaGo6Wcun_vrM0YhYPfjj3UvMIq4gLmit1RYg_yGy6LaeLaONQDxAaJKBTjlwvTdXZoiPJtmQ72FyRixWpfmmRUih4Aqr3FZo7oZfQBg-ssxNDMOj8y0j9nPx0MP0a3NrP8SfKwmOMGy8zZoj7C3SH8opYxN-runUXKupmf4f0eGE_oduSOJ_bg)**Crypto Swap allows you to swap crypto assets for any other coin at the equivalent value**

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A Swap Derivative is a contract between two parties- individuals or organizations to exchange cash flow amongst them. The most used type of swap is the interest rate swap. This is just the exchange of fixed interest rate payments. Crypto swap enables the exchange of crypto assets for their equivalent value in another coin.

**Future**

\*\*  ![](https://lh3.googleusercontent.com/mWsJ1HdzbQqayDIjqlyO6vo4jKyRGfG5rua5icahuKzcg6-LDkmpMYcnH7cxDcqgBgPt6mief2t5neb4JcGzfIsOZWztL7fwpAVY0B4MYcVhkyhOFpzzsxL8wYUlBXAZyVYTVdQ8YN1iKKd20wwsp6tVSWM9eZLIQLBFdbzQbAH6EtlctNfgSOTYxt2WTA)**Trade Futures at any exchange of your choice**

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Another unique type of crypto derivative is future trading. It is a contract based on speculation of the price of cryptocurrencies on an agreed date in the future. And on the future date agreed upon, the two parties are obliged to buy or sell depending on the nature of the contract signed.

Irrespective of what the market price may be at the time, whether the prices have risen or fallen.

**Forward**  ![](https://lh6.googleusercontent.com/owOAJ80NeqXQqYYDbT12k0HXw1HKN5iodnQvRUFnvaPnkBxM5AjJprDMOVb7TxC86eUjKnMJKbsYju43Tb2H8H35vwwULeWmwwZbn-NRYyjQOKAsmcJHJ-hBvYucbOcTpPaWlxtF4H7eR8vD0rSb8Paxu5ST_gzeja9s898EXd8BYwVZdTJ8_Rc7vruSUQ)**Forward is a formidable trading option**

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The third type of Crypto derivative is Forward. It is more like the future, the difference being that forward is traded on an over-the-counter exchange. This feature of the forward as a crypto derivative makes it a little riskier than future trade.

**Options**

\*\*  ![](https://lh4.googleusercontent.com/XJZtpKiGp_u2zzAAJafWfyNPW36icOlpwUrfO39mrfs9LyHBYuryHtUnhdQFZKdNpJbCngqX3L1zclZMbx112fI3UUqhstoeE4VQ6ETFyZtLa-ccxG4z5rpBczQ_Grev10BWb5grKcCzqs4cS5jqk8u7MEzfYRw3eqK3JIeMIEmWbXDhdW-bJJaUm71uvQ)**Option as a crypto derivative does not mandate you to buy or sell as earlier agreed**

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Option as a crypto derivative is not dissimilar to the future. It is built around the concept and ideal of the future where two parties can speculate on a cryptocurrency's future price and then agree to buy or sell at a future date on a pre-agreed price. However, the difference is that with the option, you are not obliged to buy at the agreed date.

**Benefits of Crypto Derivative Trading**

Traders have been discovered to have shifted attention to crypto platforms offering derivatives, which is one reason many crypto exchanges are now introducing derivatives to their platforms. There are many benefits of crypto derivative trading, and they include the following;

* **Risk-mitigation:** One important factor that cryptocurrency dealers ensure is in place in any platform that they choose to trade on the risk mitigation factors noticed on the platform. Crypto traders don't want to wake up one morning only to discover that all their cryptocurrencies have disappeared into thin air due to avoidable risk. This is what crypto derivatives stand to mitigate.
* **Hedging;** hedging on crypto derivatives trading helps reduce the risk of potential losses, which is one reason many traders now build a trading habit around crypto derivatives.
* Price speculation; price speculation is, without an iota of doubt, another benefit of derivatives trading on crypto platforms.

\*\*  ![](https://lh5.googleusercontent.com/K7qeUOKa4J_gTRU4FrT98_nKn-X2HiJql8DHxx9c-dQYk2HTbfifctFHhdzhmZ1PQ1rnfo52ZsZRgFmmWdJ7yOdAxpHOpJ8KRjyH5avXAh5VZpPdbVCaLdTcXM29NpMUmyugqIVctSamIIc-6OCghtMNzOkayf5n3AoS4-YhGP5QS0iemKvQ-D3zMe9Ihg)

**Crypto derivative allows traders to speculate and mitigate loss**

\
**Derivatives Enable Price Speculation and Risk Management**

The risk-averse nature of crypto derivatives trading has lured many crypto traders to platforms that offer the option of derivatives. The rise in the number of traders using the option has also made it a promising venture.

The idea of derivatives trading is to evade the risk of volatile assets, especially those commodities or assets that experience sudden rise and fall in prices.

The risk-averse nature of derivatives enables price speculation that leads to contracts to sell or buy an asset or a product at a price agreed on before the agreement is signed at a pre-decided date in the future between two parties which can be persons or organizations.

**The Role of DeFi in Derivatives**

The decentralization of the crypto industry has played a huge role in the rise of derivatives trading. Hence, you shouldn't have any fears while trading on derivatives because, with the decentralization of crypto, even the government and monetary organizations cannot know how much crypto you are holding in your crypto wallet and where you send them.

Crypto Derivatives and why they have Become Investor's Choice

The sheer number of blockchains that exist is both encouraging and alarming. Interestingly, it might be the most significant innovation of the 21st century, given its ripple effect on numerous sectors, from finance to manufacturing and education. However, many blockchains exist in isolation and only offer on-chain transactions and never cross-chain transactions.

The introduction of oracle blockchains provides ways for blockchain networks to interact, which is now referred to as blockchain interoperability in the crypto sphere. 

Blockchain interoperability is simply the ability of blockchains to transfer digital assets and data between themselves.
Invariably, this leads to better collaboration between blockchains. There are over 1500 blockchains and 18000 cryptocurrencies, with more expected in the next couple of days, weeks, months, and years. 

Each blockchain will be perpetually isolated from the rest of the crypto world without interoperability. Interoperability has, therefore, enabled a multi-chain world where blockchains can not only transfer data and digital assets between themselves but also see into each other.

**What is cross-chain technology: why is it essential to crypto?**
The isolation of the first-mover blockchains created the demand for interoperability amongst blockchains. And what innovators did was simply meet the growing demand of crypto investors and enthusiasts.
Cross-chain technology is one of the most effective solutions that facilitate interoperability in the ever-evolving and growing world of blockchains. Cross-chain technology enables the transfer of digital assets and data between two or more blockchain networks.
With the rapid increase in the adoption of cryptocurrency as a legal tender in the financial world and the uncommon traction it gained. The utilization of the most common blockchain networks like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), to mention a few, led to the emergence of several other emerging blockchains in the crypto ecosystem. 

They all had common problems and underlying economic and technological drawbacks. While they functioned independently and allowed on-chain transactions on the blockchain, their intricate limitations also ensured that users of these blockchains weren't getting the best out of the technology.
Hence, the need for interoperability amongst blockchains. Interestingly, cross-chain technology has been heavily adopted as one of the foremost innovations in the crypto ecosystem. 

Mainly because of its ability to facilitate interoperability between different blockchains and their propensity to enable the exchange of data, transfer of digital assets, and altogether cross-chain communication between several blockchain networks. 

Interestingly, the users of these blockchain networks are better off with the innovation and can now communicate and share data without going through intermediaries.

**Types of blockchain**


1. **Public blockchain:** these blockchains are decentralized, allow anonymous transactions, are trustable, and secure.
2. **Private blockchain:** they are not as decentralized as the public blockchain as only selected nodes can participate; hence, they are only open to authorized users and are only utilized in a closed network.
3. **Hybrid blockchain:** as the name suggests, this kind of blockchain has a blend of public and private blockchains.
4. **Consortium blockchain:** is used by organizations to initiate and validate transactions. Also known as the federated blockchain, it is a blend of public and private blockchain.

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What Is Blockchain Interoperability: How does it work, and why is it essential to cryptocurrency?

INTRODUCTION

If you are considering buying or selling crypto, your first port of call will probably be an exchange platform. These are the digital marketplaces where most crypto trading takes place. You have probably heard of a few: Binance, Kraken, Uniswap and so on. Most are centralized and use a business model similar to ancient establishments just like the new york exchange. However, a large number of exchange platforms are decentralized and radically rethinking how exchanges can work. Here, we try to explain the pros and cons of every form of exchange (Centralized and Decentralized).

Decentralized exchanges (DEXs) are rising over the last five years to challenge incumbent centralized exchanges (CEXs). In brief, DEXs aim to supply lower group transactions, let users directly hold their assets, and avoid some regulatory burdens. On the opposite hand, they face the price of compensating their liquidity suppliers for a special kind of risk called “impermanent loss.”

CEXs provide their benefits too. they often provide additional liquidity and stronger regulative assurances, which may be especially vital for institutional clients.

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## **CENTRALIZED EXCHANGE**

Centralized exchanges most commonly facilitate trades between users by maintaining an order book: a collection of buy and sell orders posted by individual traders. Orders are requests to buy or sell a certain amount of a specific crypto currency at a certain price. CEXs aggregate orders from their users and then use a special software package to match and execute the corresponding buy and sell orders.

CEX users do not exchange crypto or fiat currencies with one another. Instead, after they deposit their funds onto an exchange, the latter takes over the custody of these assets and issues a corresponding quantity of IOUs (I owe you) to the monger. The exchange tracks each user’s IOUs internally as they change hands in trades and change them into actual currency at the time of the withdrawal of funds.

## **BENEFITS OF CENTRALIZED EXCHANGE**

**User-friendly**

Centralized exchanges provide beginner investors with a well-recognized, friendly method of trading and investing in cryptocurrencies. As against using crypto wallets and peer-to-peer transactions, users of centralized exchanges can log into their accounts, read their account balances, and make transactions through applications and websites.

**Reliable**

Centralized exchanges provide an additional layer of security and liableness when it comes to transactions and trading. This can be achieved by enabling the transaction with the aid of a developed, centralized platform, centralized exchanges offer higher levels of comfort.

Speed: fast transaction speeds on centralized exchanges contribute to improved user experiences as well as alter complicated trade types.

**Recovery potential**

If you lose your password, basically all centralized exchanges have security procedures that make it possible for you to recover your password by simply showing your passport copy or offering any other corroborative info.

## **LIMITATIONS OF CENTRALIZED EXCHANGE**

Users store their crypto assets on the exchange. The integrated wallets are a part of the system and are therefore beyond the user’s management. Since the private keys' ownership rests with the exchange, there is a risk of total loss should the exchange be compromised (Not your Keys, not your Coins). Cases of this kind are rare however historically have already occurred with losses running into millions of hard dollars. 

**Debatable disadvantage:** centralized exchanges are under the management of regulators, third-party providers, and legal laws. To stop money laundering, operators are needed to gather extensive knowledge concerning their customers (KYC). This regularity is contrary to the fundamental idea of cryptocurrencies.

## **EASE OF USE**

The user interfaces are easy to understand even for beginners, and the processes and procedures can be internalized quickly. Simple and uncomplicated access to several trading options. 

Generally high level of practicality with numerous trading options and a wide variation of cryptocurrencies.

Due to the high trading volume, CEX has high liquidity. The exchanges can meet payment obligations quickly and simply. The bustling activity on the centralized trading venues ensures several buys and sells orders to guarantee market-friendly trading. CEX is based on an individual and central infrastructure. This permits quick transaction exchange almost in real-time. The algorithms of the leading exchanges will process thousands of orders per second. Traders can react to dynamic market situations without waiting. The major mainstream exchanges provide a wide range of digital currencies with unnumbered trading pairs. At the same time, deposits and withdrawals in fiat currency are also attainable making CEX a good option  for crypto  traders.

## **DECENTRALIZED EXCHANGE**

A decentralized exchange offers the core functions of a CEX. These include order books (or automated Market Maker (AMM)), a trading venue, an identical system, and security functions. The difference between centralized exchanges is that all these functions are decentralized. To this end, a DEX is not based on internal servers and its own IT infrastructure but acts as a decentralized application (dApp) on a blockchain. It is necessary to differentiate between two varieties of decentralized exchanges here: currency-oriented and currency-neutral DEX.

The former is usually based on the Ethereum platform and uses Ether (ETH) as the central medium. Besides, different blockchains also are conceivable on an infrastructural basis, but Ethereum is by far the best market share here. The latter is not based on a particular system and is not dependent on the transfer currency. So-called atomic swaps enable a fast exchange of cryptocurrencies that are placed on totally different blockchains. The exchange is regulated using smart contracts, in which the parties are involved in every deposit of the assets intended for exchange.

## **BENEFITS OF DECENTRALIZED EXCHANGE**

A decentralized exchange is free from government necessities, laws, or monitoring. Users face each other in direct trading, and there is no third party involved in the exchange. each user has full access to their private keys and, therefore, their crypto assets.

Anonymity is one of the core reasons for trading on a DEX platform. There is no authentication procedure, no KYC, and no personal documents uploaded to servers abroad. Usually, a private address on several blockchains is enough, and mercantilism can begin. there is no exchange of personal information between the exchange platform and any authority or government bodies.

The generally low-cost trading with an outsized range of trading pairs takes place via a decentralized server network. This minimizes the risk of a hacker attack enormously and makes inaccessibility due to server failures virtually impossible. Since a DEX resides directly on the blockchain, it cannot be targeted for an attack on a central server.

 

## **LIMITATIONS OF DEX**

Trading on a decentralized exchange is usually significantly slower than on the centralized variants. While this varies from DEX to DEX, every transaction must be validated by miners. Once it is necessary to react to dynamic market situations at short notice, decentralized exchanges are hardly appropriate as an acceptable trading venue.

High liquidity is essential to the success of an exchange. The exchanges with the very best liquidity are always among the most popular trading venues. The relatively recent idea of decentralized exchanges implies that there are considerably fewer traders than on CEX. As a result, liquidity is also significantly lower.

The practicality of DEX is still limited. Also, the graphical user interface is mostly too confusing for beginners. Limit orders, margin trades, or stop losses are not accessible by traders. However, most forms of exchanges are working on a way to adapt the functionalities of CEX.

 

## **EASE OF USE**

Using a decentralized exchange platform does not involve a sign-up method, as you do not even need an email address to interact with these platforms. Instead, traders will need a wallet compatible with the smart contracts on the exchange’s network. Anyone with a smartphone and an internet connection can enjoy the monetary services offered by DEXs.

To use DEXs, the primary step is to come to a decision on which network a user desires to use, as every trade will incur a transaction fee. The next one is to choose a wallet compatible with the chosen network and fund it with its native token. A native token is the token used for transaction fees in a very specific network.

Wallet extensions that permit users to access their funds directly in their browsers make it easy to interact with decentralized applications (DApps) like DEXs. These are fixed in alternative extensions and need users to either import an existing wallet through a seed phrase or personal key or produce a new one. The security is further implemented through password protection.

These wallets can also have mobile applications thus traders can use DeFi protocols on the go, as they are available with inbuilt browsers ready to interact with smart contract networks. Users can synchronize wallets between devices by importing from one to the opposite.

After choosing a wallet, it will need to be funded with the tokens used to acquire transaction fees on the chosen network. These tokens have to be bought on centralized exchanges and are simply classifiable through the ticker symbol they use like ETH for Ethereum. After buying the tokens, users merely need to withdraw them to the wallets they control.

It is crucial to avoid moving funds to the wrong network. Therefore, users must withdraw their funds to the correct one. With a funded wallet, users can either connect their wallet through a pop-up prompt or click the “Connect Wallet” button on the top corners of the DEXs website of DEXs.

## **CONCLUSION**

The great interest in decentralized financial applications (DeFi) resulted in the high demand for decentralized exchanges (DEX). This type of trading venue describes an exchange that operates directly on a blockchain without a central dominant authority. As one of the most intensive forms of decentralized applications, DEX enables classic trading in cryptocurrencies. The advantage here is that users can trade instantly without logging in and have their non-public keys at the least times.

Meanwhile, centralized exchanges CEX like Binance, Huobi, and Coinbase relies on a central system based on its infrastructure. In contrast to a DEX, a third party invariably controls the trading activity. Centralized exchanges are persuasive with their high liquidity and quick transaction exchange. However, during this context, the user is usually dependent on the exchange and has no access to his personal keys.

As our summary above has already made clear, each form of exchange has its benefits and disadvantages. The entire decentralization of a DEX drives in line with Satoshi Nakamoto’s basic ideas in Bitcoin development. For many traders, however, the performance of CEX clearly argues for the utilization of thought exchanges. However, many CEX has recognized the advantages of decentralized exchanges and are presently acting on their variants or integrating DEX choices into their systems. Therefore, a future merger of every variant at the corresponding interfaces is feasible.

DIFFERENCES BETWEEN CENTRALIZED EXCHANGE AND DECENTRALIZED EXCHANGE

The world is inevitably moving toward the digital ecosystem and the complete adoption of virtual currency as a legal tender. Everything is going digital and paperless from investment to money transfer, and the emergence of cryptocurrency makes it even better. Cryptocurrency is a medium of exchange between users just as it is with fiat currencies such as USD; however, cryptocurrencies are exchanged digitally. 

Cryptocurrency is a decentralized virtual currency that employs cryptography for secured transactions thus making it difficult to counterfeit it. 

Interestingly, it is not issued by a central authority; hence, the government cannot take it from you. Since the turn of the decade, cryptocurrency has been rapidly gaining attraction and patronage from the public.

Some of the reasons behind the rapid adoption of crypto are the fact that it is fraud-proof, promotes instant settlement, is accessible, and you are the owner-hence, governments cannot take it away from you. 

Crypto transactions are stored in a public ledger and the identity of coin owners is encrypted to ensure the legitimacy of record keeping. Again, the ledger ensures that all transactions between crypto wallets on a blockchain or between blockchains can calculate an accurate balance.

Most cryptocurrencies have had an unpredictable growth trajectory as they have risen to prominence in recent years. Many others have been erratic at best with scandals, hacks, and unnecessary debates that could give the industry a bad name. 

However, the crypto industry has kept the surge and keeps waxing strong year after year. The industry makes for an honest review and in totality, cryptocurrency has produced many millionaires in the world and a few others have seen their worth reach the billion dollars mark.

This leaves a lot of questions in the mind of those who thought of crypto as a scam and not scalable in the early years. Many still want to know if there is still a space for new entrants in the crypto world and others want to know if they can still have a share of the pie. Interestingly, there is still more to come from the world of digital currency. With the emergence of NFTs and GameFi, digital currency hasn’t had a better time than it does now.

The history of cryptocurrency goes back decades ago when the idea of cryptography came to the fore. Cryptography is the technology that led to the evolution of digital currency and it is what makes blockchains secure and reliable. Interestingly, with over 18000 cryptocurrencies in the world with the propensity of more to come, here are four reasons crypto will be the future currency in the world.

## Absence of a central a**uthority**

There is no doubt that the use of cryptocurrency is growing every day and it is becoming more acceptable and accessible which invariably has put it in the spotlight since the turn of the decade. Given the emergence of layer 3 blockchains and the continued advancement and evolution of blockchain technology, it is safe to say that cryptocurrency offers so much as a financial system. Here are the apparent benefits of crypto as a financial system:

Privacy: 

* blockchain is powered by different cryptographic techniques that ensure the anonymity of crypto users. Hence, it is difficult to know how much you are worth to anyone. Furthermore, cryptography ensures data protection and prevents personal information from falling into the wrong hands. It is safe to say that all data transmitted within a blockchain network is hidden from unauthorized persons.
* Accessibility: cryptocurrency offers a viable solution to the numerous people that cannot afford formal financial services from the traditional banking institutions in the world. The traditional banking system is restrictive without personal identification which is required across the globe for account opening and funds operation. However, cryptocurrency offers a leeway from these imposed restrictions. Hence, the millions of people that cannot afford to own a bank account can tap into crypto. Crypto offers instant access from anywhere as well as lower transaction cost and fast processing of transactions within and across blockchains.
* Security: blockchain networks are highly secured. Hence, transactions carried out using cryptocurrency cannot be changed or forged. However, they can be traced for proof.

## **Wide Adoption**

Ten years ago, there were only a few people who knew anything about crypto. Even fewer people may have heard of it at that time, cryptocurrency simply sounded like rocket science and heavily seemed unattainable.

However, since the turn of the decade, there has been rapid adoption of crypto as a more acceptable financial system. Interestingly, both the public and private sectors and even some countries' governments are showing interest. It is openly recognized in many sectors and many private and public companies now accept cryptocurrency as part of their financial system.

With its wide adoption across sectors and nations, it will only be a matter of when and not if before it becomes the global system of transactions. Hence, the currency that seemed like a joke some years back has now become receptive in different sectors of the global economy. More and more actors are becoming receptive and there is a tendency that even more people will adopt crypto.

## **Decentralization**

Before the emergence of cryptocurrency, the need for a transparent, secure, and accessible financial system was mounting as a challenge that needed an immediate solution. No thanks in part to the centralized financial system and its inability to provide financial freedom and credibility. 

Hence, many people see decentralized finance (DeFi) as a better system that can offer more transparency, better transactional security, and scalability.

Interestingly, given its rapid utilization, DeFi is gaining wide traction in various segments of finance which is perhaps catalytic to the crypto revolution. Furthermore, the increase in demand and the accessibility of crypto exchanges is, without doubt, increasing the popularity of different DeFi systems across the globe. With DeFi, cryptocurrency has continued to push for change to financial systems and they are increasingly becoming more viable financial systems than the traditional financial system. Interestingly, anyone anywhere can connect to DeFi as well as own some cryptocurrencies.

## **Means of Payment**

Cryptocurrency can be used to purchase goods and services without requiring a trusted third party to complete the transaction. Many companies now accept cryptocurrency as a legal tender. Beyond being a means of payment, crypto is also a solid investment option.

## **Conclusion**

Cryptocurrency holds a stake in the future of finance. Given its history, crypto is pushing to disrupt the conventional financial system as they require a third party to verify and authorize transactions. Crypto is still in its infancy and as it continues to develop, it is poised to become the currency of the future sooner than later.

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4 Reasons Crypto Will Be The Currency Of The Future 

Anthony Hopkins has edged his way into the world of crypto over the past few years.

Anthony launched over 1000 pieces of original art inspired by his career in Hollywood. A remarkable feat that saw the legendary actor complete the sales of his debut non-fungible token in a span of 10 minutes has made a mark that will be remembered for many generations.

** \n **The actor, who claims to have first started painting in the late 1940s, had his first exhibition in 2015 at the independent art gallery Harte International Galleries in Hawaii. 

"Entering the space of NFT is like being on the moon, In awe of the limitless dimensions of technology and art," - Anthony Hopkins said.

Though this is the actor's first art collection that leverages blockchain technology.

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Oscar-winning actor Anthony Hopkins' first NFT art collection, entitled "The Eternal Collection," sold out in under seven minutes

**The main difference between NFt art and traditional art is that while NFT art is related to digital art and ranges from music to pictures and everything in-between, traditional art refers to non-digital art and it ranges from painting, drawing, sculpture, and other forms of art that are expressed on a flat surface.**

**Keep on reading to know about the differences between NFT art and traditional art.**

**NFT art has proven to be a remarkable way for the modern artist to earn fame and reward for their craft online. NFTs are digital tokens that are issued in small amounts and more often than not, only once.**

**NFT implies that they are rare; hence, are very valuable. NFT is such a lucrative industry and the costliest NFT ever sold to date was sold for $69.3; the item sold represents a collage of digital images that were created by Beeple.**

**NFT has been around since 2015 but didn’t come to prominence until 2021. Interestingly, 2021 saw the rise of a new form of art, and it is called Non-Fungible Token (NFT).**

**NFT redefines the relationship between art and money. While traditional art is a physical form of art, NFT is a digital art that operates on blockchain technology, is unique, and its authenticity is verifiable.**

**It’s been impossible to miss the growth in sales of NFTs and the exorbitant fees at which they have been sold have made them the major talking point in the world of art. Interestingly, it is revolutionizing the art world and it is far more inclusive of newcomers than the traditional art establishment, and there are plenty of platforms where the artist can connect to buyers directly.**

**The emergence of Non-fungible Tokens in the world has changed the collection of art and for good reason too. The emergence of NFTs has given us the possibility to own digital assets in the form of digital artwork.**

**Main Differences Between NFT and Traditional Art**


1. **The main difference between NFT and traditional art is that NFTs are completely digital items and can only exist in digital forms in a digital wallet and on a specific blockchain while traditional art is simply a non-digital art and only exist in a physical form.**
2. **Traditional art unlike NFT or crypto art is rooted in belief, not tampered with by the outside world, is passed down from one generation to another, and is housed in physical structures. NFT art on the other hand is not rooted in belief and is not housed in any physical structure.**
3. **Traditional art consists of paintings, sculptures, and other pictures that are created for the admiration of people and can also include customs, beliefs, or methods that have existed for a long time and are usually passed down generations. NFT art on the other hand is simply digital assets and does not relate to custom.**
4. **NFTs are non-fungible tokens and cannot be interchanged for another of like mind while traditional art is fungible and are interchangeable for another of like mind.**
5. **It is easier to verify the ownership and authenticity of NFT art. In contrast, traditional art uses physical certificates that are usually signed by the artist. However, as with every certificate, it can be forged.**
6. **It is much easier to access NFT art than it is to access traditional art.**
7. **Traditional art is more difficult to create and can only be in one physical location at a time, while NFT art is digital and anyone can create and sell NFT.**

## **Do NFTs Have A Limit?**

**NFT can be anything digital from music to drawing and even more. However, the current excitement about NFT is in using technology to sell digital arts. Although one can say that NFT is an evolution of traditional art, what is even worth saying more than anything is that it is becoming widely accepted and as a result of that is here to stay.** 

**Over the years, man has tried to replace parts of traditional art that were lost or destroyed. The downside with the traditional art is that it can be reproduced several times; hence, it takes a keen eye to spot the difference between the original artwork and the counterfeit or lookalike. Hence, one can say that traditional art is perhaps fungible.**

**NFTs are non-fungible, and what that means is that it is unique and cannot be traded for something else. Hence, if you exchange an NFT for another NFT, you will have something completely different from what you traded.**

## **Comparing NFT With Traditional Art**

### **Sales Process**

**The sales process refers to the ways these arts are sold in the market as well as the nitty-gritty that comes with that.**

| **NFT Art** | **Traditional Art** |
|----|----|
| **No pre-requisites are needed for an NFT to be listed on big platforms.** | **Difficult for artists to be successful by just doing art.** |
| **Other platforms require an invite or application process. Not extremely difficult like with traditional art.** | **They need a gallery that is willing to promote and sell their art.** |
| **Artists would primarily use social media pages like (Instagram, Twitter, and TikTok) to promote and market their art themselves.** | **If successful, further investments would be made to get in an exhibition and eventually at the big auction houses.** |

 

## **Cost**

**The cost at which an NFT can be created and that at which a traditional art can be created are anything but similar. Creating NFT, beyond being easier also requires low cost, unlike the traditional art which the cost of creation can be very high.**

| **NFT Art** | **Traditional Art** |
|----|----|
| **Gas fees for minting and listing replace traditional verification costs, as proof of authenticity and ownership are assured on the blockchain.** | **Authentication is costly and time-consuming.** |
| **Fees are relatively high if the artwork is priced low, but not if the artwork is priced at a price beyond what was spent in creating the art. Interestingly, with more platforms emerging, NFT has seen an increasingly low cost of creation.** | **Logistics required for exhibition and auction are costly and high-end art requires security and insurance.** |
| **You don’t need to travel out of town to sell an NFT art because that can be done from the comfort of your home.** | **Personal traveling expenses to said events are by traditional artists.** |
| **Consultation is not required to have an NFT art listed.** | **Consultancy fees’ for key decision-makers to display your art are costly.** |

##  

## **Commissions**

**The commission is the amount charged by galleries to exhibit art. The commission could come from two ways. The commission is paid by both the seller and the buyer. However, in most cases, the buyer pays a higher commission fee while in certain cases the seller is not required to pay a commission fee.**

 

 

 

| **NFT Art** | **Traditional Art** |
|----|----|
| **NFT has high gas fees and this easily leads to gas wars.** | **Galleries typically charge between 10-20% commission on sale price.** |
| **2.5%-15% depending on the platform used.** | **Auction houses charge 15-20% commission.** |

 

### **Royalties**

**Royalties are earned by an artist when his art is resold on the market. With NFT, royalties are usually set by the creator during the minting process. Royalties give the original owner of an art a fixed percentage of the resale value of the art.**

| **NFT Art** | **Traditional Art** |
|----|----|
| **Up to 10% royalty for secondary sales.** | **No royalties are given to the artist for secondary marketplace sales.** |
| **Ability to split royalties and sales made between 2 or more artists by smart contract thus ensuring that there will be no messy arguments in the future.** | **There is no provision for smart contract.** |

 

### **Valuations**

**Valuation implies the value of any given art. The value of traditional art hinges on the art dealer and galleries that are representing the artist.**

| **NFT Art** | **Traditional Art** |
|----|----|
|  **Valuations are based on social dynamics. However, social dynamics are derived from social media (Twitter, Instagram, etc). All of which provide a relatively-even playing field for artists to promote themselves, regardless of race/country/religion.** | **Valuations are based on social dynamics among art collectors.** |
| **NFT simply requires the best marketing strategy and internet exposure and not the best gallery or auction houses.** | **For max valuation, artwork needs to be in the best galleries/exhibitions/auction houses.** |
| **The value of an NFT is not reliant on connection but on the creativity of the artist and the ingenuity of the art.** | **The values of art rely on close, long-term connections with key decision-makers for a chance to have art displayed.** |

 

## **Conclusion**

**With Traditional Art it is a challenging process to get your art noticed by top-level collectors and is also costly to promote artwork at exhibitions/museums, it often requires industry insiders to get your artwork noticed by top-level collectors and there is no opportunity for royalties.**

**Unlike traditional art, with NFT it is easier to get on the same platform as top-level artists. However, it relies on the quality of art and social media to be noticed by top collectors.**

**Again, it offers a fast process from completion of artwork to the display of art for sale as well as offering royalty income opportunity to artists, and discrimination is eliminated.**

**Overall, the NFT market is amazing and it provides artists with more opportunities to monetize their work as well as take control of promoting their art than traditional art.**

** \n **

NFT Art VS Traditional Art: All You Need To Know

Where money is, scam always follows and the same can be said of cryptocurrency. Cryptocurrency scam is rising; thieves are using different techniques to steal money from unsuspecting crypto enthusiasts and investors alike. 

It is believed in many quarters that cryptocurrency scammers have stolen north of $1 billion since 2021. Similarly, in February 2022, crypto exchange platform Wormhole lost $320 million after a cyber-attack.

Cryptocurrency is a digital currency that is stored in a digital wallet and owners can turn it into cash by transferring to a bank account or selling it for money. However, most cryptocurrencies do not run through financial systems as they are decentralized and they use blockchain for verification; hence, it is harder to recover from theft. 

Scammers are always creating different scamming techniques to steal money from people and the massive growth of cryptocurrency in recent years has created several opportunities for crypto scams. 

For anyone interested in crypto it is important to be aware of the risks involved. This article intends to tell you all you need to know about crypto scams, how to spot them, and how to avoid them. Read on to get the full details of crypto scams in this article.

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**Bitcoin investment scheme**

Bitcoin since its creation has remained the top ranking cryptocurrency in the world and by some distance the most popular among the lot. It is often tagged the blue-chip crypto because of its value. Given that where there is money scam follows; the Bitcoin investment scheme ranks as the foremost crypto scam in the world. 

Fraudsters contact crypto enthusiasts and investors claiming to be investment managers. To further woo their victims, they claim to have made millions investing in cryptocurrency and promise their victims huge returns if they invest in their scheme. 

The scammers at this point request an upfront fee and that could be the last you hear from them; because, instead of making money, they simply steal the upfront fee. 

The fraudsters may ask for personal information to your crypto wallet with the claim that they need it to deposit your profit and if you give it to them, they will clear out all the coins in your wallet. 

Another type of investment scheme used by fraudsters is fake celebrity endorsement. Scammers take photos while posing with celebrities, business people, and influencers to capture the attention of susceptible targets while using the photos to run fake accounts, ads, and articles to make it appears as though the celebrity is promoting the investment scheme. 

They create a professional-looking website, logos, and reputable company names. Hence, the sources for their claims appear to be trustworthy. However, the endorsement is fake and there is no celebrity anywhere promoting the scheme.

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**Pump and dump scheme** 

A pump and dump scheme is another method fraudster uses to scam investors. It involves a particular coin or token getting hyped by scammers through email or social media. The hype tends to create fear of missing out (FOMO) amongst crypto enthusiasts and investors who end up buying the coin and ultimately driving up the price. 

The fraudsters aim to create a rush for the coin as well as inflate the price of the coin after which they sell their holding. This leads to a crash in the price of the coin or token as the asset’s value rapidly declines.

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**Rug pull scams** 

Rug pull has become very popular in the crypto world and it is used to describe the scam where developers or founders of a project don’t follow through on their promise after receiving funds. This type of scam has become prevalent in the cryptocurrency NFT ecosystem and often occurs when the founding team of a crypto or NFT project is anonymous as this allows them to quietly disappear after receiving funds from investors. The coding of this kind of investment prevents people from selling their cryptocurrency; hence, investors are left with a valueless asset. 

Rug pull scam occurs in NFT projects usually post-sale and it occurs in three distinct ways. Developers selling all their shares, removing the ability to sell, and also removing liquidity. A popular version of rug pull scam is the squid coin scam, named after the popular Netflix series Squid Game. 

The investment was expected to create a play-to-earn gaming atmosphere for gamers and crypto lovers who had to play to earn cryptocurrency. People could also buy tokens for online games as well as exchange them for other cryptocurrencies. With the rush created by investors, the price of the squid token quickly went up from 1 cent to about $90 per token. 

Eventually, trading stopped and all the money disappeared. The token value immediately dropped down to zero as investors and gamers alike attempted to sell their tokens. The scammers are believed to have made about $3 million from the scam. 

Rug pull scams aren’t unique to just cryptocurrencies as they are also prevalent in the NFT ecosystem.

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**Romance Scam** 

It is impossible to list different techniques employed by crypto scammers without mentioning romance scams as dating apps are not strangers to crypto scams. 

A romance scam is also referred to in some spaces as a pig butchering scam. The type of scam involves long-distance relationships strictly limited to the online presence of the lovers. 

Here, one party takes time and does all he/she can to gain the other party’s trust. Once trust is gained, the romance scammer tries to convince the other party to invest in cryptocurrency or give money in some form of cryptocurrency after which the scammer disappears with his/her loot. 

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**Phishing Scam**

Phishing scams often target information related to crypto wallets. Scammers target personal IDs that are needed to access a wallet and then clear out any funding on the wallet. 

This type of scam has been around for some time but is still very popular these days. Scammers send emails to unsuspecting victims with links to a fake website to gather personal details such as cryptocurrency wallet key information. 

And once the scammers get a hold of the information they steal the cryptocurrency in the wallet. To avoid phishing scams, all you need to do to never enter secure information from an email link, however, legitimate it may look. Instead, always go directly to the website. 

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**Fake website**

Similar to phishing, fraudsters sometimes create fake cryptocurrency trading platforms and even fake versions of official crypto wallets to lure unsuspecting investors and crypto enthusiasts. These fake websites have a similar but slightly different domain name from the one they are trying to mimic. 

Hence, they look very similar to legitimate sites or trading platforms thus making it difficult to tell the difference between the fake site and the real one. However, fake crypto sites operate in one of two ways;

As phishing pages; here all the details you enter on the site end up in the scammer's hands and can be used to log into your crypto wallet. You must be sure of the authenticity of a website before entering such details as crypto wallet password, recovery phrase, and other financial information related to your crypto account.
As straightforward theft; here you are allowed to trade and withdraw your fund to gain the trust of the platform. 

However, as your investment seems to perform well, you might invest more money on the site at which point the site either declines your request to withdraw or ultimately shuts down.

**Man-in-the-middle attack**
Man-in-the-middle attack often occurs in public places when users attempt to log into a cryptocurrency account in public. Here, scammers who act as man-in-the-middle can steal private and sensitive information from unsuspecting crypto users.
Again, a scammer can intercept information sent over a public network and this includes; passwords, cryptocurrency wallet keys, and account information. 

This happens when a user logs in to their accounts using a public network. Sensitive information can be gotten by a thief by using a man-in-the-middle approach by intercepting Wi-Fi signals on trusted networks if the thieves are within proximity.
The safest way to avoid this type of scam is by using a Virtual Private Network (VPN). The VPN encrypts your personal information thus blocking the man-in-the-middle from gaining access to them as well as from stealing your cryptocurrency.

**Employment offers and fraudulent employees**
Scammers recently have taken to impersonating recruiters and job seekers with aim of getting access to cryptocurrency accounts. The ploy is to offer juicy employment opportunities to unsuspecting victims in exchange for cryptocurrency as payment for the training.

**Social media giveaway scams**
Scammers make fraudulent posts on social media platforms promising giveaways in crypto. They sometimes include fake celebrity accounts promoting these giveaways. The aim is to lure people into the ditch.
However, there are tendencies to be directed to a malicious site asking for verification to receive the giveaway when you click on the giveaway link. Part of the scam includes making payment to prove the validity of your account. However, you can either end up losing the payment or in the worst-case scenario have your personal information and cryptocurrency stolen.

**Ponzi schemes** 

More like a pyramid scheme, fraudsters pay older investors with the proceeds from new investors. Sadly, there are no investments anywhere; hence, this type of crypto scam runs in circles as it is all about targeting new investors and old investors wouldn’t get paid if there are no new investors. The lure of a Ponzi scheme is always the promise of huge returns with little to no risks. 

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**How to Spot Cryptocurrency Scams**
There are usually red flags to look out for if you don’t want to be a victim of crypto-scams. Here are a few tips for you:
The promise of guaranteed or double returns; should be a huge red flag to crypto vets; however, newbies can be very unsuspecting. There are no financial investments that can guarantee future returns on investment because investments can go down or up. Hence, any crypto investment manager promising that you will definitely make money may be a fraudster.
Excessive marketing; every business tends to promote itself. However, good product markets itself. 

One way that fraudsters lure victims is by excessive marketing of the scam. The aim is to reach a large number of people and make as much as they can. Hence, they spend on heavy marketing via online platforms, paid influencers, and offline promotion. 

Therefore, if the marketing of a crypto project appears heavy-handed then it is a pointer that the project might be a scam.
Poorly written or non-existent whitepaper; every crypto project should have a whitepaper as it shows the roadmap the project intends to take in the long run. 

The whitepaper should as well explain how the cryptocurrency has been designed and how it will work. However, if the whitepaper is poorly written or in the worse case is inexistent then you should look before you leap.
Errors in posts; misspelling and grammatical errors in emails, social media posts, and any other channel of communication should serve as a red flag. 

Genuine crypto projects hire experts for publications and they are duly edited and vetted before posting.
Unnamed team members; one thing scammers maintain is anonymity. However, it is important to know the key people behind an investment scheme or better put a crypto project before buying in on their idea. They should have easy-to-find biographies, verifiable addresses, and an active presence on social media. 

If you can’t find any of these, then the scheme is more likely a scam.
Promise of free money; any investment or crypto project that is promising free money is likely a scam. You don’t get free launch in Freetown and most likely won’t get free money anywhere.

**How to Avoid Crypto Scams**
Many crypto scams are sophisticated, convincing, and difficult to avoid if you don’t heed the red flags listed above. Here are some steps you can take to protect yourself:


1. P**rotect your wallet**
   Investing in cryptocurrency requires a wallet and each wallet requires private keys. Hence, if a firm asks for your wallet keys to take part in an investment opportunity then it’s highly likely that it’s a scam. Keep your wallet keys private, don’t share with anyone.
2. **Put your money where your mouth is**
   Only invest in things that you understand. If how the project works is not clear enough then it is safe to not invest in it. If it’s not clear enough for you to understand, pause and do further research before buying in.
3. **Keep an eye on your wallet**
   After downloading a wallet, the first time you transfer money, send only a small amount. This is to confirm the authenticity of the crypto wallet app. If for any reason you are updating your app and you notice suspicious or malicious behavior, it is safe to terminate the update and uninstall the app.
4. **Be wary of beat-up social media ads**
   Scammers often use social media ads to promote their schemes. They even use the images of celebrities, influencers, and business people to convince unsuspecting persons of the legitimacy of the scam. When you see such ads on social media, do your due diligence, and maintain a healthy skepticism because it might be a ploy to woo and defraud you of your crypto holdings.
5. **Ignore cold emails and calls**
   Scammers often send cold emails with call-to-action links that take victims to malicious sites. Again, if anyone calls or emails you out of the blue to sell a crypto investment opportunity it is probably a scam. Hence, it is safe to ignore the email and not disclose personal information.
   To protect your digital wallet from scammers, you have to practice good digital security habits such as using strong and easy-to-remember passwords, using only secure connections or VPNs, using safe storage, as well as following the tips above.

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Popular Cryptocurrency Scams And How To Avoid Them

**Whitelists are the golden tickets that allow you to buy NFTs early and at a cheap price too In the world of NFTs.**

**If you are in the NFT space then you may have heard of flipping NFTs for huge profits. This is only achievable when you buy low and sell high.**

**The NFT space is constantly growing with many projects getting to the mainstream. Good projects tend to attract a lot of buyers that are interested in minting as soon as the projects drop. Hence, there is a high chance that too many people would have gotten their hands on an NFT long before you do.**

**Interestingly, getting whitelisted guarantees you a chance to mint an NFT before the project gets to the public. Hence, an NFT whitelist simply put is a spot reserved for someone. Whitelist spots are usually limited to a few persons; however, it guarantees you access to mint an NFT.**

## **What is an NFT whitelist?**

**In every project, some people remain loyal and engaged with the project. Usually, these people deserve a head start over others. NFT whitelist is simply a reserved spot for a few people to mint an NFT before the public sale.**

**An NFT whitelist guarantees your digital wallet address the eligibility to mint an NFT before anyone else can. Getting on a whitelist can be extremely profitable.**

**And this is because NFTs operate with demand and supply economics. If an NFT project garners a lot of interest, the project could probably sell out within a short time. Interestingly, getting whitelisted saves you the stress of trying to get your hand on an NFT.**

**Furthermore, a whitelist in the NFT space refers to the list of people who get guaranteed access to mint NFT early at a specific date and within a window of time.**

## **Benefits of getting on an NFT whitelist**

**There a numerous benefits you can get from being on an NFT project whitelist. Some of the benefits include the following:**

### **You have guaranteed access to mint**

**As has been said earlier, one of the foremost benefits of getting whitelisted on an NFT project is the spot reserved for you to mint an NFT before the public. One of the major problems people encounter when they want to mint NFT is scarcity.**

**There is a tendency that all the NFTs in a project especially a project that is garnering a lot of interest can get sold out before you get the slightest chance to buy. However, getting whitelisted eliminates this problem.**

### **You can get an NFT for an early mover price or even for free**

**Getting an NFT for an early bird price is great for people who are just starting up in the NFT space, but don’t want to risk their hard-earned money. Interestingly, it isn’t just beneficial to newbies; it is also beneficial to pros.**

**Generally, a low buy means a higher profit margin when you flip your NFT.** 

### **You avoid gas wars**

**With an interesting NFT project, the likelihood of gas war is usually high. Since the gas fee is the fee paid for transactions in the NFT space.**

**There is a tendency that people are willing to pay more gas fees because the more gas fees you are willing to pay determines how fast your transactions will be confirmed. And with so much competition to mint, people often increase the gas fee by paying more gas fee than usual.**

**This act of increasing what one is willing to pay results in ridiculous high transaction fees going for several thousands of dollars as well as leading to gas fee wars on NFT projects. However, getting whitelisted ensures you avoid gas fees wars.**

**This is possible because when you are added to an NFT project whitelist you can choose a specific time to mint your NFT within the window provided. This also ensures that transactions are spaced out.**

**Thus leading to less competition, less traffic on the network, and ultimately low gas fees. This ensures that you end up losing tons of cash if the NFT project ends up unprofitable.**

## **How the NFT whitelist works**

**Whitelisting is the method NFT projects use to reward early supporters with guaranteed spots for mint an NFT. It simply ensures that supporters that are loyal to the project and have contributed to the success of the project have their crypto wallet pre-approved for minting.**

**This also ensures that they avoid the gas war that ensues when everyone else is clamoring to mint.**

**Getting on an NFT whitelist allows you to enjoy certain benefits like;**


1. **Whitelisting gives you the advantage of purchasing an NFT at full price before it goes public.**
2. **For extremely desirable projects, whitelisting is the only means of minting or getting your hand on the project. However, this excludes buying in the secondary market.**
3. **Whitelisting is like a golden ticket that is used to buy NFT at a cheap price and early on before others.**

## **NFT whitelist VS presale**

**The most NFT project uses whitelisting and presale to time the market and build momentum. As well as sense the interest around the project when it is still in its infancy. Hence, if the whitelist spot is immediately filled then it is a good indicator of a successful launch.**

**A full whitelist creates the fear of missing out (FOMO) on the public as well as building hype with other NFT collectors.**

**However, when the whitelist is low or slow, it indicates that the NFT project is not generating a lot of interest. Or that the NFT market is going through a bear cycle.**

**This helps the NFT project founding team to work on their vision, the NFT product as well as the community.**

**In most cases, whitelisting qualifies an NFT collector for the project presale, while presale on the other hand leads to the public launch of the project.** 

  

| **Whitelist** | **Presale** |
|----|----|
| **In most NFT projects, whitelist precedes presale. Simply, whitelisting gives you a spot on the presale list.** | **Presale precedes the launch of the NFT project to the public.** |
| **New NFT projects can enter a presale stage without whitelisting people.** | **It is usually uncommon for an NFT project to launch to the public without going through a presale.** |

 

##  **What does it mean to get whitelisted?**

**To be whitelisted on an NFT project means that you have passed through the process of eligibility as defined by the founding team of getting your crypto wallet pre-approved for NFT minting within a given date and time.** 

## **How to get on the whitelist for NFT**

**There is no general rule as to how to get on the NFT whitelist. This is simply because NFT whitelist requirements differ between projects. Whitelist spots are given out for a variety of reasons that may range from winning an art contest or inviting a specific number of people to a discord channel.**

**Each NFT project determines the metrics that are used to decide who deserves a whitelist spot for a particular project and they vary across projects. The basis for getting on an NFT whitelist includes:**

### **Find a good project early**

**The first step to take if you want to get on an NFT whitelist is to find a good project early. Remember that whitelist is only applicable for a project that has not been launched. Hence, to get on the whitelist you must find a compelling project that you are willing to get involved with.**

**This implies finding a good project before it drops and before everyone else gets a wink of the project.**

## **How to find NFT projects early**

**There are several ways of spotting an NFT project early. However, the most prominent of these methods are;**

* **Scour Twitter: it is safe to say that Twitter is a platform where the NFT community lives. Hence, it is the most powerful tool that can be used to identify an NFT project early.**
* **Discord: Each NFT discord server serves different purposes. The shill chat room is where content about other NFT projects is posted. Hence, if you can filter the noise you should get a wink of the latest NFT projects.**
* **OpenSea activity: discord and Twitter may give you a hint of the latest NFT projects. However, monitoring their activities on OpenSea will let you know how the project is doing.**

 

### **Join the project discord group**

**The next step of getting on an NFT whitelist is to join the discord group after finding a compelling project.**

**NFT project discord group is where most of the project’s activity takes place. Like major announcements, giveaways, introduction to the founding team, projects roadmap as well as for instructions on how to get on the whitelist.**

**In the discord channel, you will complete some steps to prove you are a human and not a bot. Interestingly, most discord channels usually have links to how-to-whitelist. You can find the link to an NFT project discord group on their Twitter bio.**

### **Invite people**

**One other way to get on an NFT whitelist is by inviting people. Inviting people to an NFT discord channel is one of the metrics many NFT projects use to get people whitelisted.** 

**NFT projects appreciate it when supporters bring in more interested buyers. Interestingly, everyone on the project has a unique invitation code that can be sent to friends and other discord servers. With this unique code, you can invite people to the NFT project that you are trying to promote.**

**However, when posting promotional content of an NFT on other NFT discord servers ensure to post only in the shill chat room of the server. Each NFT discord server has numerous chat rooms that are used for several purposes. Shill means to show off in the NFT world and it is only in the shill chat room you are permitted to advertise another NFT project.**

### **Follow through the eligibility process**

**Each NFT project has its unique set of requirements to qualify for the whitelist. Hence, you must ensure that you meet their requirements. To get whitelisted you have to be eligible.** 

**Once eligible for whitelisting you may be required to provide your crypto wallet address to get pre-approved for minting. You are to then choose a suitable time to mint from the options you are provided with.**

### **Stay engaged**

**NFT projects usually offer whitelist spots to supporters that add value to the project and are genuinely interested in the project. You have to do your best to get noticed by the founding team. You have to earn your spot because they are not gifted to everyone.**

**To get noticed you have to actively engage in the discord chat making a meaningful contribution to discussions about the project. You should also interact with community members. This can be done by;**

**Tweeting about the project, retweeting tweets from the project handles, and other tweeps about the project. As well as talking about the project on all your social medial pages.**

### **Get in early**

**It is important to find a good project early before everyone else does. What is equally important is getting on board the project early. Getting early creates an initial demand for whitelisting.** 

**This is because most NFT projects easily give away whitelist spots to early supporters. The key is identifying a viable project and becoming the first few early members of the discord channel.**

**Getting on an NFT project whitelist is a bit of work but it is not undoable. And only require a few days of effort from you.** 

**When you eventually get whitelisted then you will realize that it was worth the task because you could easily flip your NFT for a high-profit margin.** 

### **Take part in giveaways**

**Most NFT projects host giveaways on their discord channels as well as on their social media pages. Here, they ask their followers to like and share their messages. Interestingly, liking and sharing these messages can also earn you a whitelist spot. However, you should participate in as many giveaways as you can.**

### **Participate in contests**

**Most NFT projects usually come up with contests for users and winning the contest could guarantee a spot on the whitelist. Such contests are usually open to the general public.**

**You should participate in as many of such contests as possible if you desire a spot on the whitelist.**

### **Make a fan art**

**You can take inspiration from the project and create fan art to show your support for the project. This way, you give the project free publicity and there is the likelihood that it will earn you some points. As well as help get you on the NFT project’s whitelist.**

### **Hold NFT from previous collections**

**Most NFT projects or blue-chip NFT collections act as a Launchpad. They partner with new or hyped NFT collections. Hence, to get whitelisted, NFT collectors need to hold the specific NFT that is acting as a Launchpad to the new or hyped NFT.**

## **Can you lose money minting a whitelisted NFT?**

**Whitelisting gives you an option to mint NFT before it gets to the public and doesn’t in any way guarantee profit. It should be noted that minting an NFT doesn’t guarantee profit and there is a tendency for NFT projects to fall to zero. Minting NFT implies you can tokenize the NFT as well as ensure that the digital asset is verifiable on the blockchain.**

**However, there is no guarantee that people will be interested in purchasing your NFT. Minting ensures that NFT can be bought and sold. However, whether you sell or not depends on your strategy.**

## **NFT whitelist scams**

**For simplicity, the NFT whitelist scam will be divided into two for ease of reading.**

### **Rug pull scam**

**A rug pull has become very popular in the crypto world and it is used to describe the scam where developers or founders of a project don’t follow through on their promise after receiving funds.**

**This type of scam has become prevalent in the NFT ecosystem and often occurs when the founding team of an NFT project is anonymous as this allows them to quietly disappear after receiving funds from investors.**

**__Rug pull__ scam occurs in NFT projects usually post-sale and it occurs in three distinct ways. Developers selling all their shares, removing the ability to sell, and also removing liquidity.**

### **Buying whitelist spot**

**As a rule of thumb, whitelists are given out to people as a reward for their loyalty and engagement to the project community.** 

**Generally, a whitelist is not available for sale; hence, if you are offered to purchase a spot on a whitelist NFT project, you should approach the offer with skepticism. Because they usually turn out to be scams.** 

## **Conclusion**

**Getting on an NFT whitelist may be a herculean task in the beginning because of the shift you may have to put in. However, it will always turn out to be a worthy task in the end if you get whitelisted.**

**Again, in all you do, avoid the NFT whitelist scam. Put in the shift you have to put in, get in on the whitelist and enjoy the benefits that come with it.**

 \n 

10 Easy Ways To Get The Whitelist In NFT

The media’s frenzy around cryptocurrency isn’t going to stop any time soon thus leading to an increasing growth of curiosity about cryptocurrencies which has ultimately enabled improvement and transformation in the crypto market as more coins enter the market.

Decentralized, fast, and secured blockchains are lucky finds in the crypto world as not all coins combine these intricate qualities. However, some cryptocurrencies are better than others, and interestingly, knowing which one to invest in can save you from the mistakes beginners make as well as help to maximize your profit.

Teams and companies behind blockchains and cryptocurrencies have had to upgrade to better and more innovative methods to meet the needs of potential holders. Coinmarketcap.com is responsible for the daily update of prices and values of more than seventeen thousand cryptocurrencies in the market and it can be such a big task picking the most profitable coins as well as the ones with the best set of features that allows easy trading.

Cryptocurrencies are more popular now than before and for good reasons. Cryptocurrency offers new ways of thinking about money that is most importantly; fast, safe, and reliable.

With so many different options of cryptocurrencies available and the rare pace at which the cryptocurrency market is growing, picking the correct coin from the myriad of coins available to expand your trading portfolio can be a daunting task.

You can recall that the early adopters of Bitcoin (BTC) became millionaires and so many more people are being made crypto millionaires because of the foresight of buying and holding cryptocurrencies that turned out good in the market.

Again, Bitcoin by all standards is the blue-chip cryptocurrency, it is the largest digital currency in the world by market capitalization and has done extremely well in the past couple of years. Though the price of BTC has been a bit topsy-turvy in the last few months, interestingly, the prices are beginning to steady against the tides. However, in the past few years, those who timed the purchase and sales of their BTC ended up as millionaires.

Interestingly, many foresaw the price explosion of Bitcoin and as more digital currencies flood the market, investors are looking for the next digital currency that could make them crypto millionaires. The big question is, how can one find the next superstar crypto to hold. This article provides the relevant answers to the question above. Read on for details.

**What is the importance of layer 3 solutions?**

Blockchain decentralization is simply the regulation put in place by blockchain developers to ensure the proper use of their blockchain network, with measures that ensure even the government and monetary organizations are not in the know of how much value you are holding in your blockchain account as well as where you send them to. However, the fast and secure transaction is the ultimate goal of blockchains.

Both factors are important and required for the successful completion of a task or operations of a blockchain setup. Another element of importance to the blockchain setup is its scalability which is the ability of the system to back very high transaction output and imminent progression of the system.

However, the poor interoperability of blockchains is an obstacle to the global adoption of parent technology behind DeFi and cryptocurrency. Interestingly, many emerging cryptocurrencies such as Logarithmic Finance (LOG) are designed to promote an easy connection between innovators and investors and so can be termed the next generation of DeFi layer 3 protocol.

Cryptocurrencies built on the Ethereum blockchain have struggled for true interoperability despite layer 2 while Logarithmic Finance on the other hand is disrupting the DeFi space by seamlessly unlocking the potential of decentralized applications and interoperable blockchain.

Layer 3 solutions, unlike its counterpart the layer 2 solution provides the much-desired framework for a truly integrated and interoperable network of blockchains. The multi-chain liquidity pools of the layer 3 solution provide the needed infrastructure for lending across and between chains, that were until now incompatible with each other.

The interoperability of blockchains is the latest innovation in the crypto world and this will go a long way to determining the next superstar cryptos in the globe.

**How to identify the next big cryptocurrency**

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 ![](https://freewritersdesk.files.wordpress.com/2022/07/image-71.png?w=483)

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There are a few factors to look out for to determine whether a cryptocurrency will turn out good or bad. Or whether it is just another scam in the name of crypto. Here are a few things to look out for in your bid to identify the next big cryptocurrency from the emerging digital currencies.

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**Price**

Price is crucial and it is one element that you must keep in mind while on the outlook for the next big thing in the world of cryptocurrency. Many people want to join the crypto train without burning their fingers while others just want a minimum risk thus implying that they are only willing to buy at moderate or perhaps negligible prices. Hence, if like every other average investor you do not have a great deal of money to spend then you might as well scan for low-priced cryptocurrencies.

According to the value of BTC on coinmarketcap.com, an investment of $10,000 will not buy you one-half of a Bitcoin but will buy more than five Ethereum, more than 50 Litecoin, and thousands from one or more digital currencies priced at or below $1. Hence, you should consider diversifying with low-priced cryptocurrencies. To be on the safe side, you can hold more than one of the low-priced coins.

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**Prospect of adoption**

While it is easy to find out the price of cryptocurrencies, what is even more difficult is determining their prospects of adoption. Every digital currency needs people to thrive no matter how innovative it may seem. While crypto prices can be found on exchange platforms, the prospect of adoption follows a trend pattern on the other hand.

If you can identify a cryptocurrency that has an edge over others with more likelihood of adoption, it is probably a good investment.

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**Supply is Crucial**

One other factor that must be keenly considered before investing in any cryptocurrency is its supply. Most cryptocurrency in an attempt to beat hoarding, inflation, and volatility comes up with a pre-determined maximum supply. Once the maximum supply is reached, no new tokens are produced; hence, if interest is maintained while the supply is fixed, the value could go up and people could also make money out of it.

Before putting your money in crypto, be sure to check out the total supply and the current circulation.

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**Price and volume**

Always look out for the price and volume of trades of any cryptocurrency before investing. Experience shows that those cryptocurrencies with increasing prices and volume of trades are the most likely to become the next superstar cryptos if the momentum is maintained. Although, there is no guarantee that the momentum will be maintained; however, it is important to know which cryptocurrency is catching the eyes of investors. Interestingly, up-to-date information regarding the price and volume of cryptocurrencies can be found online.

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 ![](https://freewritersdesk.files.wordpress.com/2022/07/image-70.png?w=425)

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**Disclaimer:** This article is not financial advice. The reader is further advised that Crypto products and NFTs are unregulated and can be highly risky. Hence, we expect that you carry out your research before investing in them.

How to Identify the Next Superstar Cryptocurrency

There is a handful of blockchains aiming to solve the shortcoming of Ethereum. They offer smart contracts and they claim to have freed themselves from the pitfalls suffered on the Ethereum blockchain. This article takes a look at the five most promising networks with the possibility of outshining Ethereum in the future. 

 ![](https://freewritersdesk.files.wordpress.com/2022/07/image-72.png?w=604)

Ethereum remains next only to Bitcoin in terms of market capitalization and has established itself as the first choice platform for dApp development, in the process giving room for DeFi and programmable smart contracts for millions of users across the globe.

However, as is common to most blockchain networks in the crypto ecosystem, Ethereum has its limitation, foremost above all others, is its gas fee which can be incredibly outrageous. Ethereum gas fee is based on its current demand and supply thus implying that the busier the network gets, the more you are expected to pay for transactions.

One other drawback with Ethereum is its lack of interoperability which means that the Ethereum blockchain cannot exchange data with a different network. Another frustrating thing about the Ethereum blockchain was its scalability. Ethereum has recently improved its scalability which previously was extremely limited because it employs a proof-of-work (PoW) structure and can only process 15 transactions per second.

With more users flocking to the Ethereum network and more dApps deployed, the network becomes clogged and this leads to exorbitant gas fees and longer transaction processing. Ethereum is generally regarded as the blue-chip king of DeFi and that is unlikely to change any time soon. This does not necessarily mean that Ethereum is bulletproof because it isn’t the most scalable and interoperable blockchain in the industry. Ethereum already offers secure, fast, and reliable transactions on its blockchain. However, true blockchain interoperability directs more feeds into a more accessible cryptocurrency industry. Interestingly, that will go a long way to attract more users to the platform. 

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With the numerous pitfalls that can be experienced using the Ethereum blockchain, people started looking for alternatives, and innovative developers rushed to satisfy the demand. The creation of many other networks that are faster, less expensive to use, and interoperable, amongst others has led to the rise of numerous Ethereum killers.

The emergence of the “Ethereum Killers” has prompted a heated race among themselves for the title of the new best smart contract blockchain with solutions to drawbacks users experience with Ethereum. Although, it is safe to say that these five blockchains haven’t been able to topple Ethereum; however, they are actively seeking to do so and in the meantime are building a strong army of supporters around their various ecosystems.

## The prospect of Cryptocurrency

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Cryptocurrency analysts and experts predict that cryptocurrency will become the currency of the world in the nearest future- this goes beyond any doubt as cryptocurrency has maintained strong potential and steady growth since its inception over a decade ago.

## Solana 

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Native token: SOL

Market cap: $12.505 billion

TVL: $2.54 billion

Solana is an open-source, public domain blockchain that supports NFTs and a variety of other decentralized applications. The native currency of Solana is known as SOL and it is domiciled to the Solana blockchain and provides network security by staking and transferring value. Created in 2017, Solana is a high-speed blockchain platform with smart contract functionality. The network uses a unique consensus model, a combination of the proof-of-history (PoH) and proof of stake (PoS) to verify transactions carried out on the blockchain. This hybrid structure allows Solana the ability to process 710,000 transactions per second with high scalability.

Solana is one of those coins that have made its investors very happy and smiling to the bank ever since its presale. The price of Solana has skyrocketed since its creation, and according to CoinMarketCap Solana is one of the 10 leading most valuable cryptocurrencies in terms of market capitalization. In November 2021, Solana was traded for over $200 and had you invested as little as 100 dollars when Solana was launched, by March 2022, you would have had over $250,000 in your wallet.

Solana does have the ambition to relegate Ethereum to the background of the ecosystem. Solana's goal of solving the trilemma issues of speed, security, and decentralization at the same time has been achieved to a large extent. However, suffering several outrages in one month left a sour taste for many who have been questioning Solana’s actual degree of decentralization.

Despite these certain issues, Solana remains one of the biggest ecosystems in the crypto sphere. Solana offers a low transaction gas fee of a fraction of a cent which has kept its larger community of users happy.

## Avalanche 

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Native token: AVAX

Market cap: $6.3 billion

TVL: $4.77 billion

Launched in 2020, Avalanche strives to be secured, fast, and affordable. Hence, advertises itself as a blazingly fast, low-cost, and eco-friendly blockchain. According to recent data, AVAX is the fastest smart contract platform in the blockchain ecosystem. AVAX provides near-instant transaction finality, registering an impressive 4500 transactions per second (TPS). 

Like Ethereum, Avalanche (AVAX) is also an open-source project as users can view and modify the platform’s code.

Avalanche is eco-friendly, incredibly fast, and transacts at a low cost. As measured by time to finality. 

As an open, programmable smart contract platform for decentralized transactions, Avalanche **(**AVAX**)** is such a good crypto investment option, that you can’t afford to miss out on getting in on its train. 

Avalanche ranks as the 13th best cryptocurrency in the crypto world and it is one of the few cryptocurrencies that can give 100% returns. Avalanche platform and its native currency AVAX are said to rival Ethereum as they both use smart contracts to sustain blockchain projects.

Getting 100% returns in cryptocurrency is not so much of a difficult task if you select tokens with solid use-cases and trade smartly with them. 

Avalanche (AVAX), like Calyx Token (AVAX), are designed with good use-cases that give them an edge in the crypto world.  

Avalanche's impressive scalability is achieved by its unique infrastructure that connects several blockchains into a single network thus promoting interoperability which its founders believe is the future of cryptocurrency.

## Binance Chain

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Native token: BNB

Market cap: $42.189 billion

TVL: $6.19 billion

The performance of the Binance coin (BNB) is directly related to the growth of the Binance exchange platform. According to analysts, the performance of the Binance coin (BNB) might cross US$610 by the end of 2023. Hence, the Binance coin is a good investment choice if you want to gain through cryptocurrency in 2022. 

Binance is by some distance the most know crypto exchange platform and also has the highest volume of daily trading. BNB chain is designed as an alternative to Ethereum and it enables dApp development with higher speed and lower transaction cost. With its modified version of proof-of-stake known as the proof-of-stake authority (PoSA), Binance is regarded as the fastest exchange platform in the crypto world.

However, it is criticized for its centralization and the few numbers of validators on the platform. This implies that the BNB chain will have to put in a lot of work to gain users' trust because many people are wary of centralization in the crypto world. However, BNB remains one of the foremost cryptocurrencies in the world.

## Cardano 

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Native token: ADA

Market cap: $15.8 billion

TVL: $124.69 million

Cardano uses Proof of Stake instead of Proof of Work to improve its sustainability. Furthermore, Cardano is a third-generation cryptocurrency that combines the best features of the first and second-generation cryptocurrencies to meet the needs of its investors. Cardano pride itself as the blockchain network for change-makers, innovators, and visionaries; empowering them with tools and technologies, required to create a possibility for many thus making the world work better for all. 

Launched by one of Ethereum's co-founders, Charles Hoskinson- who left the Ethereum project over a dispute. Cardano is believed to be the most energy-efficient protocol in the crypto ecosystem.

## Polkadot

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Native token: DOT

Market cap: $6.7 billion

TVL: $4 million

Launched by Gavin Wood, another Ethereum co-founder, Polkadot, a proof of stake (Pos) smart contract blockchain processes about 1000 transactions per second which were still 985 transactions more than Ethereum can process at the same time before the merge. Unlike other competing blockchains which focus is around their native tokens, Polkadot allows its smart contract to run independently from the main chain. 

Polkadot can securely communicate across chains thus allowing any type of asset to be sent between two previously interoperable networks. Like every other supposed “Ethereum killer” Polkadot is banking on its high scalability and interoperability to outmuscle Ethereum.

## Will any of these blockchains come close to killing Ethereum?

Ethereum has done some modifications which its developers believe will improve scalability and keep it in the lead ahead of other networks. And despite the heated competition, Ethereum remains the most popular platform for dApp development.

The much-anticipated merge is expected to solve many of its shortcomings as well as keep it light years apart from other blockchains. However, whether Ethereum keeps its place as the first-mover smart contracts blockchain ahead of the chasing pack, the crypto sphere provides a place for more than one platform to thrive. There is also the likelihood that the unique features of the blockchains listed above will help shore the gap between them and Ethereum or perhaps bank the unbanked by covering the niches in the market that Ethereum is too mainstream to fill.

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**Disclaimer:** This article is not financial advice. The reader is further advised that Crypto products and NFTs are unregulated and can be highly risky. Hence, we expect that you carry out your research before investing in them.

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