Boxmining v2

Author: Angela Wang

  • Crypto Misfortunes: Over $3 Million in Losses from SushiSwap Smart Bug Sends Shockwaves Through the DeFi Ecosystem

    Crypto Misfortunes: Over $3 Million in Losses from SushiSwap Smart Bug Sends Shockwaves Through the DeFi Ecosystem

    The DeFi ecosystem was recently rocked by a major breach on April 9, when a smart contract bug on the SushiSwap project resulted in over $3 million in losses. According to security reports posted on Twitter by the blockchain security auditing firms Certik Alert and Peckshield, an approve-related bug in the platform’s Router Processor 2 contract exposed a single user’s account to the tune of 1,800 ETH, roughly equivalent to $3.3 million.

    Several community members, particularly Sifu (the user whose funds were lost), expressed their shock at the hack, while DefiLlama, a pseudonymous developer, attempted to calm the situation by noting that only users who had interacted with the SushiSwap protocol in the four days prior to the breach were affected.

    SushiSwap head developer Jared Grey jumped in to offer support, urging users to immediately revoke their permissions for all the contracts within the platform before any other funds could be stolen. Grey also released a GitHub list containing the contracts from multiple blockchains that needed revoking and reassured users that “Sushi Protocol”—which houses the favored user interface—was not affected by the exploit.

    Fortunately, Gray also stated that most of the stolen funds were quickly recovered by a whitehat security team that was working around the clock. He specified that the funds that were retrieved—amounting to more than 300 ETH—were handed back to the victim Sifu while reiterating that the team was still in contact with members of the Lido team in an effort to return the remaining 700 ETH.

    The news comes at a stressful time for SushiSwap, with Grey having recently broken the news of its SEC subpoena just two weeks prior. Despite the such disruption in the ecosystem, however, the SUSHI token has only dipped slightly over the past 24 hours—dropping by about 3%—which can be seen as a sign of confidence in the future of the project.

    In 2021, the SushiSwap team was able to avoid a massive hack of their code, when a white hat hacker managed to discover a bidding bug that could have been exploited for $350 million. This incident was swiftly brought to the public’s attention by PeckShield, the same security resource that was the first to release an incident report about the April 9 breach.

    Following the incident, SushiSwap CTO Matthew Lilley released a statement informing users of the incident and outlining his team’s efforts to identify any users who may have been exposed to partial or full losses of funds on the platform. He also, reassuringly, noted that the user interface was safe to use and that all exposure to the vulnerable RouterProcessor2 had been removed.

    It is encouraging to see the team at SushiSwap take quick action and move to protect user funds after the massive exploit. Still, this incident serves as a warning to the entire DeFi community: Smart bugs represent a major threat to blockchain security and should not be taken lightly. Crypto audits and bug bounties must be conducted regularly, while users must remain aware of any suspicious activities related to their peripheral contracts. Only through these preventative measures can the DeFi ecosystem remain safe from similar misfortunes in the future.

  • Arbitrum’s Foundation Caught in Dispute: Power Struggles and Token Returns on the Horizon

    Arbitrum’s Foundation Caught in Dispute: Power Struggles and Token Returns on the Horizon

    Disputes between the Arbitrum Foundation and its blockchain community are heating up following the organization’s proposal to fund its operations with 750 million ARB tokens— worth nearly $1 billion. The proposal has been met with disagreement from the ARB community, with 55% of voters opposing the plan and 42% abstaining.

    The conflict between the two parties started when the Foundation transferred the funds without consultation, prompting ARB holders to propose a plan to return the tokens to the DAO Treasury.

    In an attempt to patch up its relationship with its community, the Arbitrum Foundation offered two new improvement proposals, AIP-1.1, which put the Foundation’s budget, transparency and spending under community government oversight and AIP-1.2, lowering the proposal threshold from 5 million ARB tokens to 1 million ARB, to make governance more accessible.

    The move comes at a time when major exchanges are trading the token, but with some members of the community believing the deal to be in violation of United States security laws. A recent Discord post by a community member said that s/he was filing a securities fraud lawsuit against the Foundation in the coming days and advised them to cease trading immediately.

    Analytics from the layer-2 analytics site L2Beat shows Arbitrum’s blockchain to hold 65% of the Ethereum layer 2 market share with hundreds of thousands of eligible users claiming ARB tokens during its launch on March 23. An overwhelming user demand led to the crashed of the airdrop claim page shortly after the launch.

    In response to the standoff, the Arbitrum Foundation submitted two additional proposals, AIP-1.1 and AIP-1.2, in an effort to quell the unrest. AIP-1.1 proposes to place the foundation’s remaining 700 million ARB tokens in a “smart contract-controlled lockup” and unlocking them over time, until the community approves a budget for the tokens. Meanwhile, AIP-1.2 amends the current governance documents to enable token holders to post an improvement proposal with only 1 million ARB tokens.

    Arbitrum Foundation community lead, eli_defi, stressed that the organization will not move the funds until it has received approval for an acceptable budget from the token holders.

    In the aftermath of the crypto governance meltdown, the community members now have to face the possibility that the tokens distributed by the airdrop have been traded in violation of United States securities law. Meanwhile, the two proposals put forward by the Arbitrum Foundation will be subject to discussions and a vote in the coming days, which will likely determine its future relationship with the ARB community. It is yet unclear how these recent development will affect the market’s sentiment towards the token and whether the proposal to return 700 million ARB tokens will be passed.

  • Bithumb Exchange Review (2023): Good for Beginners and Large Trading Volume

    Bithumb Exchange Review (2023): Good for Beginners and Large Trading Volume

    Bithumb is a leading cryptocurrency exchange founded in 2013 by BTC Korea.com Co. Ltd, offering users the ability to buy, sell and trade a range of digital assets with a daily trading volume of up to $2 billion. We will review how Bithumb works, and then it’s advantage and disadvantages.

    Sign up here to get started.

    What is Bithumb?

    Bithumb is a leading cryptocurrency exchange, established in 2013 by BTC Korea.com Co. Ltd. and headquartered in South Korea. With a wide range of digital assets available for trading, Bithumb is one of the most established exchanges in the industry.

    Bithumb is boasting an average daily trading volume of over $100 million. On some days, Bithumb has seen trading volumes as high as $2 billion.

    It also offers accounts for institutional investors, which helps to ensure a high trading volume and ample liquidity in the market for successful trades. Bithumb, designed to be user-friendly and perfect for beginners, supports multiple languages including English, Chinese, Japanese, Spanish and Hindi. It makes it accessible to traders from all over the world, with a large percentage of users from South Korea.

    Key Features and Advantages of Bithumb

    Payment Methods

    When choosing a cryptocurrency exchange, it is important to consider the payment methods available. Bithumb offers fiat currency deposits and withdrawals for South Korean residents using KRW. However, this is not available to customers outside of South Korea.

    If you are not from South Korea and are looking to start trading cryptocurrencies, the best way to do so is to open an account at KuCoin or Coinbase. Coinbase allows you to register an account and deposit using a debit/credit card or bank account. Then, KuCoin allows you to purchase one of the top cryptocurrencies and transfer it to Bithumb.

    Deposits, Withdrawals & Trading Fees

    Depositing funds into your account with cryptocurrencies such as Ethereum, Ripple and EOS is free, while Bitcoin, Dash and Litecoin deposits incur a very small fee of 0.001 BTC.

    When writing this Bithumb review, we found that the minimum deposit limits were very low. For example, the minimum Litecoin deposit is 0.1 LTC and the minimum Ethereum Classic deposit is also 0.1 ETC.

    Withdrawing cryptocurrencies from Bithumb comes with fees that vary depending on the type of coin. For instance, Ethereum withdrawals cost 0.01 ETH and Bitcoin withdrawals cost 0.001 BTC. To stay up-to-date on the latest fees, be sure to check the Bithumb website.

    At Bithumb, you can enjoy some of the lowest fees in the industry. For example, when you buy $1000 worth of Ripple, you will only pay 0.15% of the total amount, which is just $1.50.

    Binance offers one of the lowest trading fees in the industry, with a flat rate of 0.1%. However, you can get even cheaper rates by using the Bithumb voucher, which is available within your Binance account. Furthermore, with those discounts, you can less up to 0.07% for high-volume traders. If you were able to get the maximum discount, Bithumb becomes one of the cheapest fees in the industry!

    Coin Availability

    At Bithumb, you can buy, sell and trade a wide variety of cryptocurrencies, including the most popular coins like Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash. They also have lesser-known coins like Ethos, Augur and Aeternity. With over 103 coins available, Bithumb has something for everyone.

    South Korean exchanges are renowned for their professionalism, fast withdrawals, and top security. This is why popular coins like Bitcoin are often more expensive than exchanges located in other countries.

    In spite of being one of the largest cryptocurrency exchanges in the world, Bithumb offers a much smaller selection of coins compared to other exchanges such as Binance and Cryptopia. Those have hundreds of different cryptocurrencies available for trading, with new coins being added regularly. This has become increasingly popular among Chinese traders, who are unable to trade cryptocurrencies in their own country due to the ban.

    Bithumb is known for its selectivity when it comes to listing coins, with the most recent addition being Cardano and Status Token in June 2018. This can be frustrating for those who prefer a wide selection of coins. However, the Bithumb team only supports projects they deem to be legitimate.

    Key Disadvantages of Bithumb

    Slow verification process. Unlike other cryptocurrency exchanges, Bithumb takes time to verify new account registrations due to their previous announcement about restriction on new accounts.

    History of Hack last 2017. Last June 2017, Bithumb suffered a major security breach resulting in a loss of approximately $94 million and affecting over 31,000 individual accounts.

    How to Sign-up on Bithumb?

    In May 2018, the Bithumb team announced that they would be restricting account registrations from 11 countries identified as Non-Cooperative Countries and Territories (NCCT) by the Financial Action Task Force due to money laundering weaknesses.

    To sign-up, follow the following instructions:

    1. To get started with Bithumb, visit the official website and click the Sign Up button to create an account.
    2. Next, you will need to provide some basic information, such as your email address. To ensure compliance with Korean regulations, Bithumb requires a few more details than some other exchanges. After entering your email address, click on the ‘Check Duplicate’ button and tick the box to confirm you are not a robot.
    3. Enter your nationality and cellphone number to complete your registration. It is important to provide accurate information.
    4. Once you have entered your cellphone number, click on the SMS Request button. You will then receive a 6 digit code via SMS which you need to enter into the Cellphone Verification Number field.
    5. Enter your personal information, such as full name, date of birth, gender, and full home address.
    6. Create a strong password that is between 8 and 12 characters long. Re-enter it in the box below and choose a 4-digit pin number that is difficult to guess, such as a combination of numbers and letters.
    7. You must also tick the two terms and conditions boxes to complete your registration with Bithumb. It is important to read and understand the terms and conditions before agreeing to them.
    8. Complete the sign up process by clicking the Sign Up button. You will then receive a confirmation email, which you must click to complete the registration.

    If you want to trade large amounts on Bithumb, you will need to upgrade your account to the next level. This requires you to upload identification documents such as a passport and proof of residency. To find out how much you can deposit and withdraw before needing to upgrade, please contact Bithumb directly.

    Who Should Use Bithumb?

    Bithumb is an ideal platform for novice traders, with its user-friendly website featuring clear labeling and simple colors. Trading on Bithumb is straightforward and easy to understand. Open an account with Bithumb to get the best out of the platform and test it out with virtual credits before using real funds.

    Bithumb is an ideal platform for professional traders, offering a range of trading tools such as chart analysis and candlestick bars. With one of the highest trading volumes in the world, Bithumb provides excellent liquidity for those looking to trade large amounts.

    Furthermore, it is also offering a range of features such as remittance, which allows users to send funds internationally. 

    If you’re looking for an anonymous trading experience, Bithumb might not be the best choice for you. Although you can deposit and withdraw using cryptocurrency, you still need to provide a full range of personal information in order to use the exchange.

    Conclusion

    Bithumb stands out from other cryptocurrency exchanges due to its stringent sign up process, which requires users to provide personal information even when only using cryptocurrency for deposits and withdrawals.

    It is a great exchange to use, despite the hack in 2017. To ensure safety, it is recommended to not keep funds in the exchange for too long, as with any other exchange.

  • Poloniex Exchange Review (2023): Best for Buying, Trading and Selling Cryptocurrencies

    Poloniex Exchange Review (2023): Best for Buying, Trading and Selling Cryptocurrencies

    Poloniex, a self-proclaimed “legendary crypto assets exchange” offering low fees and optional identity verification. It is gradually regaining its place in the cryptoverse’s infrastructure with its relocation to Seychelles. In this review article, we will discuss all about Poloniex, from it’s key features, fees up to their pros and cons.

    Sign up here to get started.

    What is Poloniex?

    Poloniex is a self-proclaimed “legendary crypto assets exchange” that offers low fees and optional identity verification. What’s more, after changing owners in 2019, the exchange has relocated to Seychelles and adopted a more open, loosely regulated approach. By doing so, it allowed to offer a wider array of services, support more cryptocurrencies, and gradually get back towards being an important part of cryptoverse’s infrastructure. Despite a security breach in 2014, Poloniex remains a reliable and secure platform for trading bitcoin and altcoins. Finally, they also have the lowest fees in the industry.

    Poloniex is a cryptocurrency exchange founded by Tristan D’Agosta. Located in Delaware, USA, the exchange is highly regulated. In addition, it allows users to buy, trade and sell a variety of cryptocurrencies, including Bitcoin and Ethereum. What’s more, with daily trading volumes of over $100 million, Poloniex charges a fee for every trade made through their platform. Furthermore, these fees are paid by both the buyer and seller. With that, Poloniex is a popular choice for those looking to buy, trade and sell digital currencies.

    Key Features of Poloniex

    The key features of the exchange include:

    Trade over 60+ cryptocurrencies. From Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Tron (TRX), EOS (EOS), Monero (XMR) and many more. Get access to the world’s most popular digital assets and start trading today!

    Low Fees. Poloniex is renowned for offering some of the lowest trading fees amongst popular altcoin exchanges.

    Margin Trading. Trade with leverage on Bitfinex and get up to 2.5x more buying power with our low fee margin trading.

    Margin Lending. Poloniex offers margin lending, and then a way to earn passive income by loaning your crypto assets and collecting interest.

    Poloni DEX and IEO launchpad. Poloniex offer investors the opportunity to invest in the latest crypto projects. Moreover, Poloniex’s decentralized counterpart, Poloni DEX, investors can take advantage of the hottest new crypto projects and make the most of their investments.

    Easy Sign up and Fast Trading. Sign up and start trading on Poloniex in minutes without having to pass KYC checks. If you don’t have any cryptocurrency yet, you can easily buy some with fiat using Poloniex’s Simplex integration, though this will require you to verify your identity.

    Key Advantages of Poloniex

    Huge Range of Cryptocurrencies

    Poloniex offers a wide selection of cryptocurrencies, including major coins like Ripple, Steem, Monero and Bitcoin Cash, as well as smaller coins like BlackCoin, Bela and Burst.

    Good Selection of Tools

    Poloniex offers a comprehensive selection of trading tools, including candlestick charts ranging from 5 minutes to 4 hours, stop-limit orders, and the ability to zoom in and out of charts. The user-friendly interface makes it suitable for both beginners and experienced traders.

    Based in the U.S. with Strict Government Regulation

    Poloniex, based in the United States, is a secure and reliable cryptocurrency exchange. Furthermore, with strict government regulations in place, Poloniex takes every measure to ensure customer funds are safe and secure, and to prevent any criminal activity. As a result, Poloniex is a safe and reliable exchange for cryptocurrency trading.

    Liquidity

    Poloniex offers traders a high level of liquidity, particularly with its wide selection of altcoin pairings, making it an ideal platform for those looking to trade with minimal risk of volatility.

    No Transaction Fees

    Poloniex is one of the most competitive exchanges when it comes to fees, offering low-cost deposits and withdrawals with no additional charges. Unlike other cryptocurrency exchanges, Poloniex does not profit from your withdrawals, ensuring you get the most out of your trading experience.

    Reasonable Trading Fees

    Poloniex offers competitive trading fees, with a maximum fee of 0.125% for all trades. Furthermore, this fee is reduced for larger volumes, making it an attractive option for high-volume traders.

    No Complicated Verification Process

    Poloniex offers anonymous trading for those who do not wish to verify their identity, allowing users to trade up to $2,000 a day without the need for verification. This is a great advantage for those who want to trade without having to provide personal information.

    Wide Range of Customer Support Options

    If you need help with any issues, there are plenty of options available. Ticket support, email, and then live chat are all great ways to get assistance quickly. We personally prefer live chat as it allows for immediate support.

    Key Disadvantage of Poloniex

    Unreliable Security due to Previous Hack

    Poloniex, a popular cryptocurrency exchange, experienced a security breach in 2014 when 12.3% of their Bitcoin supply was stolen. The hacker discovered a bug in the system which allowed them to withdraw more than their actual balance. However, the exchange owner, Tristan D’Agosta, managed to pay everyone back by temporarily increasing trading fees and contributing his own money. Since then, Poloniex has taken security seriously and has not been hacked again.

    How To Use Poloniex?

    Creating an Account

    1. Firstly, visit Poloniex.com to in order to sign-up.
    2. Next is to click the “Create Your Account” button.
    3. Create an account by entering your country of residence, email address and choose a strong password.
    4. Confirm your email address with Poloniex by clicking the link in the email they sent you.
    5. and now you have created your own account on Poloniex!

    Deposit Funds

    1. To access your account balances, hover your mouse over the Balances tab at the top of the screen and click on the Deposits & Withdrawals option.
    2. Search for the cryptocurrency you want to deposit with on the right side of the page to view a comprehensive list of available coins.
    3. To purchase Bitcoin Cash, click on the ‘Deposit’ button located on the right side of the screen.
    4. You will be provided with a distinct deposit address for the cryptocurrency you are using to fund your account. Remember, each coin has its own address, so make sure you don’t send Litecoin to a Bitcoin Cash address.

    Conclusion

    If you have read this comprehensive Poloniex review, you should have all the necessary information to determine if Poloniex is the right cryptocurrency exchange for you.

    The ease of use of the platform is the most important factor when it comes to exchanging. The Platform’s user-friendly interface makes it easy to trade a wide variety of coins with minimal trading fees.

    For those looking to expand their cryptocurrency trading options, Coinbase, Binance and Kraken are highly regarded exchanges that offer a wide range of digital asset options.

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Bittrex Exchange Review (2023): Fast Exchanges, Small and Fixed Fees

    Bittrex Exchange Review (2023): Fast Exchanges, Small and Fixed Fees

    Bittrex, a veteran exchange based in Seattle, U.S., and Lichtenstein (Bittrex Global), offers a powerful trading engine with a sleek interface to enable direct purchases of cryptocurrencies using US dollars and trades between more than 220 cryptocurrencies. This Bittrex review will provide an overview of the platform and a comprehensive guide on how to use it effectively.

    Sign up here to get started

    What is Bittrex?

    Bittrex is a Seattle-based cryptocurrency exchange founded in 2014 by Bill Shihara, Richie Lai, Rami Kawach and Ryan Hentz. The team has a combined 50+ years of experience in security and development for companies like Microsoft, Amazon, Qualys, and Blackberry. Bittrex is a secure and reliable platform for trading digital assets, offering many features and services. It is the go-to exchange for traders looking for a fast, secure, and easy-to-use platform. With its advanced security measures, Bittrex is the sheriff of the Wild West of cryptocurrency trading, ensuring its users a safe and secure trading experience.

    Bittrex is a crypto-to-crypto trading exchange that offers users the ability to purchase digital coins with fiat currencies. To do so, users must pass their full bank verification process. The exchange offers more than 190 different cryptocurrencies and 284 unique trading pairs. Users can invest in cryptocurrencies using USDT, a cryptocurrency whose value is tied to the US Dollar. Bittrex is a secure and reliable trading platform that allows users to easily and safely purchase digital coins with fiat currencies.

    Key Features of Bittrex

    The Bittrex exchange also boasts the following noteworthy features:

    More than 220 cryptocurrencies: Trade popular and obscure coins like XRP, Litecoin, and Bitcoin to make huge profits.

    Reliable, Secure, and Robust Platform: Former security engineers founded Bittrex, which has never been compromised. Also, it conforms with important regulations, making it a reliable exchange.

    On and off ramps for USD and EUR: You can add and remove fiat money from and to your bank account straight using Bittrex. Use the credit/debit card deposit tool, which is almost instant and only costs 3% per transaction, to swiftly top up your account.

    Smart Mobile Trading: You can trade your preferred cryptocurrency markets while on the road thanks to the Bittrex mobile apps for iOS and Android.

    Supportive Customer Service Staff: The rich knowledge library on Bittrex teaches users all they need to know about trading on the platform. Sending a ticket through Zendesk will work if that doesn’t.

    Key Advantages of Bittrex

    Here are some advantages of Bittrex:

    Fees

    Bittrex is a cryptocurrency exchange that charges a flat rate of 0.25% on every trade, making it a great option for newbies. This fee is slightly higher than the average, but it makes things simpler. Bittrex also charges a 0.2% commission fee on all trades, so if you buy one bitcoin for USD 10,000, you’ll pay around USD 20 in commission. Compared to other exchanges, Bittrex’s fees are in the middle range. When it comes to deposits and withdrawals, Bittrex allows you to top up your account using a bank card (VISA), wire transfer, SEPA transfer, or cryptocurrencies. VISA deposits come with a 3% fee, while wire transfer costs depend on your bank. SEPA transfers are usually cheaper and faster than traditional wire transfers.

    Variety

    Bittrex is a popular cryptocurrency exchange that offers a wide selection of coins (>190) for users to trade. It includes both well-known coins like Bitcoin and Ethereum, as well as newer coins like Loopring and Tron. Bittrex reviews its listed currencies every day and adds new coins as often as possible. This makes it a great choice for those looking to trade a variety of coins, as it offers more than double the number of coins than Poloniex (80). Bittrex is a reliable and secure platform for those looking to trade cryptocurrencies.

    Usability

    Bittrex is a popular cryptocurrency exchange offering a wide range of altcoins and high liquidity in the markets. The exchange has a user-friendly interface, with a main dashboard listing supported trading markets with price overviews, volume, and percentage of price change during the last 24 hours. The exchange offers USD, BTC, ETH, USDT, and EUR markets, making it a great choice for traders looking to liquidate their positions on short notice. Bittrex also has a US version of the exchange, which lists fewer assets compared with its international counterpart.

    Bittrex Mobile App

    Bittrex is a leading cryptocurrency exchange that offers a secure, reliable, and advanced trading platform for users to buy, sell, and trade digital assets. It is accessible through the web, as well as convenient mobile apps for Android and iOS devices. With Bittrex, users can deposit, withdraw, follow, and trade all supported markets on the go. It is a great tool for trading on the go and provides a secure and reliable platform for users to buy, sell, and trade digital assets.

    Customer Support

    Bittrex is a secure and reliable cryptocurrency exchange with a customer support team that is slightly better than other exchanges. It offers support via Slack, Twitter and Facebook. Despite its security measures, some users have experienced difficulties with enhanced account verification and withdrawals. In October 2017, 0.1% of user accounts were disabled as part of a systemwide compliance review. Bittrex is one of the safest large exchanges on the web, but its security measures can sometimes create inconveniences for individual users.

    Key Disadvantages of Bittrex

    Fiat Trading

    Bittrex, one of the leading cryptocurrency exchanges, does not currently allow users to trade using fiat currencies. However, in a recent podcast, Bill Shihara, CEO of Bittrex, said that users will soon be able to trade in US Dollars. Until then, users must own Bitcoin, Tether or Ethereum before they start trading. Other exchanges like Kucoin and Kraken allow users to buy cryptocurrency with fiat currencies. As of 2023, Bittrex now supports fiat payments, allowing users to buy cryptocurrency with US Dollars. This makes it easier for users to access the cryptocurrency market and start trading.

    Accessibility

    Bittrex is a secure platform for trading digital assets, but some users have been locked out of their accounts due to the platform’s strict verification process. Bittrex is now working on finding the right balance between security and user access. The platform is striving to provide a secure environment while also making it easier for users to access their accounts. Bittrex is committed to providing a secure platform for its users and is working to ensure that users can access their accounts without any issues.

    How to Use Bittrex?

    Let’s start at the top and take it one step at a time.

    1. Open an Account here. Starting is easy. You’ll be prompted to enter your email address and select a password when you go to the Bittrex homepage, click on LOG IN, and then click SIGN UP.

    2. Get a Bittrex address. Now that you’ve got some coins, you can send them to Bittrex and start trading with it. To do this, you need to log in to your Bittrex account. Now click on WALLETS then choose the coins you want to send. Here, we’re using Bitcoin as an example. Click on the ‘+’ icon. A message will read DEPOSIT BITCOIN and you will be sent a link to your Bittrex address.

    3. How to Trade on Bittrex? Go to API KEYS and turn everything ON except WITHDRAW. Have a look at the picture below to see what I mean. Now, go to CONFIG and select Bittrex as your exchange. Select MARKETS to choose the currency you want to trade. We’ll use Ark as our example. You can check what price Ark is being sold for in the ORDER BOOK. Now you can choose the amount you want and make a bid by clicking BUY ARK.

    4. Withdrawals. You might wish to withdraw part of your profits once you’ve made a ton of money trading cryptocurrency. To do this, go to your account panel, select the “-” icon, and then type the recipient’s address. Use your Coinbase address or another external wallet as an illustration.

    Who Should use Bittrex?

    Bittrex is a popular cryptocurrency exchange that is user-friendly and secure. It is great for experienced traders, but not ideal for beginners as it does not allow fiat trading. There are hundreds of coins to choose from, which can be confusing for new traders. Bittrex has had some issues with customer service, but they are working on it. Security is a major plus, as the team behind Bittrex have done security for Microsoft and Amazon. All in all, Bittrex is a great platform for experienced traders, but beginners should look elsewhere for their first exchange.

    Conclusion

    Bittrex is a top-tier cryptocurrency exchange that offers a safe and easy-to-use platform for users to buy and sell digital assets. With over 250 coins available, users can take advantage of the wide selection of coins and tokens to trade. Bittrex also offers a secure wallet for users to store their digital assets, as well as advanced features such as two-factor authentication and cold storage. With its user-friendly interface and a great selection of coins, Bittrex is a great choice for those looking to buy and sell digital assets.

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Robinhood Exchange Review (2023): Great Investing Platform but Poor Option for Trading Crypto?

    Robinhood Exchange Review (2023): Great Investing Platform but Poor Option for Trading Crypto?

    Robinhood is a US-based stock investment company that enables customers to purchase and trade traditional stocks, ETFs, and cryptocurrencies. If you want to know if it is the right exchange for you, read this Robinhood article review.

    Sign up here to get started.

    What is Robinhood?

    Robinhood is a US-based stock investment company that enables customers to purchase and trade traditional stocks and ETFs. Since 2018, the platform has also started supporting cryptocurrency investments, allowing users to buy and sell Bitcoin, Ethereum, and other digital assets.

    It offers users unique features such as zero-commission trades. Since its launch, the platform has gained increasing attention from users, resulting in the emergence of Robinhood Crypto reviews. It also provides users with real-time market data, portfolio tracking, and a variety of educational resources.

    Key Features/Advantages of Robinhood

    Trade Cryptocurrency Without Commission

    When it comes to cryptocurrency exchanges, fees can vary drastically. While some exchanges offer fees as low as 0.1%, others might charge up to 5%. The general benchmark of crypto exchange fees is considered to be around 0.25%. If it’s higher, it might be worth looking for an alternative. It’s important to research the fees of each exchange before trading. They can have a significant impact on your profits. Additionally, some exchanges may also charge additional fees for deposits and withdrawals. (https://northeastohiogastro.com/) It’s important to factor these in when deciding which exchange to use.

    Robinhood is a popular online trading platform that offers users the chance to trade cryptocurrencies commission-free. This means that there are no fees associated with trading crypto on Robinhood. It makes it an attractive option for those looking to invest in the crypto market. It also makes it a great choice for beginner traders, as they won’t be punished as harshly for mistakes due to the lack of fees. 

    Offers All of the Main Cryptocurrencies

    When selecting the best crypto exchange for your needs, it’s important to consider the range of supported cryptocurrencies offered by each platform.

    Cryptocurrency is gaining traction and more people are now interested in a wider variety of coins than ever before. With the right cryptocurrency exchange, you can trade all the coins you want on one single platform.

    In 2018, Robinhood was offering only two cryptocurrencies for trading – Bitcoin and Ethereum – which remain the two leading cryptos on the market even today.

    They currently support these cryptos:

    • Bitcoin
    • Ethereum
    • Bitcoin Cash
    • Bitcoin SV
    • Litecoin
    • Ethereum Classic
    • Dogecoin

    Although the variety of cryptocurrencies available on Robinhood is not as extensive as some users would like, the platform does offer a selection of major cryptocurrencies, such as Bitcoin and Ethereum. However, some users have noted in their Robinhood reviews that the platform does not include some major cryptocurrencies, such as XRP (Ripple).

    One of the More-Reliable & Secure Investments Platforms in the US

    When it comes to cryptocurrency trading, the trustworthiness of a platform is paramount in order to attract users. Crypto enthusiasts are often wary of anything that is out of the ordinary due to the prevalence of scams in the crypto market, so it is important to ensure that a platform is reputable and secure before investing.

    With a long-standing reputation for reliability and security, Robinhood has become a trusted stock investment platform. The same can be said for its crypto offerings, which have earned the platform a positive user review from the majority of its customers.

    Crypto investments are not protected by the same insurances as traditional stock investments. The company itself warns that external factors can affect the value of crypto assets. Experienced crypto holders are well aware of this risk.

    Robinhood provides users with a secure storage option for their crypto assets, keeping the majority of them in cold wallets. Cold wallets, also known as hardware wallets, are highly secure and one of the best options for storing cryptocurrencies.

    A Very Simple & Beginner-Friendly Interface

    When it comes to high-end cryptocurrency exchanges, simplicity and ease of use are often overlooked, but they are essential features that should not be underestimated. For example, Binance is a great example of how a user-friendly interface can make a huge difference in the user experience.

    Beginner traders and investors often face a stigma surrounding the trading and investing scene, as many believe these processes to be overly complex and difficult to get into. However, with the right guidance and resources, trading and investing can be made much simpler.

    Robinhood crypto reviews show that the platform is designed to be user-friendly for both new and experienced crypto traders. The streamlined interface makes it easy for beginners to get started, while experienced traders can still benefit from the platform’s features.

    Key Disadvantages of Robinhood

    Only Accepts Traders from the US

    Many cryptocurrency exchanges have a variety of restrictions in place, particularly for US-based users. This is due to the Securities Exchange Commission (SEC), a US institution that safeguards US-based investors from potential risks associated with foreign and domestic investing. To include US residents, crypto exchanges must be certified by the SEC, which can be a complex process.

    Robinhood reviews from users around the world are quite different than what you might expect. Unfortunately, this investing platform is only available to US-based investors. Meaning those from other countries are unable to use the platform. This is a major drawback for many potential investors. Additionally, once you purchase crypto on the site, you are locked to it, which is another issue that many users have with Robinhood.

    No Option to Transfer Assets Outside of the Platform

    If you’re a beginner trader, you may be wondering why you would need to transfer your crypto assets from Robinhood if you choose to trade on the platform. The answer is that Robinhood does not allow you to transfer your assets to a separate wallet, meaning your assets are locked to your RH account until you liquidate them.

    .Cryptocurrency trading requires security. One of the best ways to ensure this is to never leave your coins on an exchange. Many traders keep a small number of assets on a platform for quicker trading, buying, and selling, but the bulk of their coins should be transferred to a secure and separate wallet. This is because exchanges are not always secure and can be vulnerable to hacks. This results in the loss of all cryptocurrency assets.

    How to Use the Robinhood Exchange?

    Registering and using Robinhood Crypto is easy and straightforward. The platform offers a user-friendly interface and a simple registration process. Additionally, the platform provides a variety of helpful resources to help users make informed decisions about their investments.

    How to Register on Robinhood?

    1. Create an account on Robinhood’s official website by clicking the Sign Up button at the top-right corner of the screen.
    2. Create a secure password and provide your name and email address to get started.
    3. Upon successful registration, you will be redirected to additional pages where you will be asked to provide additional information about yourself. Depending on the time of registration, the requirements may vary. Provide your current address, postal code, contact number, and other relevant information to get started.
    4. Verifying your identity is a standard procedure when investing with any cryptocurrency exchange or investment platform. This is part of the KYC (Know Your Customer) regulations, which helps ensure the security and legitimacy of the platform. This also includes providing their Social Security Number.

    Once you have submitted all of your documents, filled out all of your details, and passed the verification checks, you will need to wait for a period of time until your application is either accepted or denied.

    The Usability Aspects of Robinhood

    Robinhood users generally report positive experiences with the platform’s usability, with many noting that it is beginner-friendly and easy to use.

    The process of acquiring crypto is straightforward. To purchase a specific crypto asset, simply navigate to its Details page and enter the desired amount. After reviewing the order and confirming that everything is correct, execute the order and enjoy your newly acquired crypto coins!

    The purchasing process is quick and easy, making it a much more pleasant experience than the registration process.

    Conclusion

    If you’re looking for a top-tier cryptocurrency exchange that offers fiat-crypto and crypto-crypto trading pairs, as well as easy crypto asset withdrawals, there are better options than Robinhood.

    This platform is easy to use and provides a safe and reputable financial environment to buy some of the main cryptocurrencies. However, the variety of crypto assets is limited and the site is not a crypto exchange. Furthermore, it does not support coin withdrawals, multiple crypto trading pairs, or users located outside of the US (except for Hawaii, West Virginia, Nevada, and New Hampshire).

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Revolutionizing the Space with Binance Smart Chain: Lower Transaction Fees for Faster, Cheaper, and More Secure Transactions

    Revolutionizing the Space with Binance Smart Chain: Lower Transaction Fees for Faster, Cheaper, and More Secure Transactions

    Blockchain technology has great potential for revolutionizing the financial sector, but the scalability issue has prevented it from becoming a mainstream payment method. In order to unlock blockchain’s full potential and make it easier to use, Layer 2 (L2) scaling solutions have been developed to provide users with faster, cheaper, and more secure transactions. Binance Smart Chain (BSC) is one such network that seeks to become an industry leader with its innovative approach to L2 solutions.

    The BSC network recently announced a new proposal to lower transaction fees, allowing users to choose fees below the current 5 gwei rate, with options to go as low as 3 or 4 gwei, depending on their financial needs. The aim is to make transactions faster, cheaper, and more secure. In addition to providing users with more attractive fees, this proposition is also expected to help sustain the BNB economy and optimize block utilization.

    The network is targeting a throughput increase from 140 million gas limit and 2,200 transactions per second (TPS) to 300 million gas limit and 5,000 TPS. They plan to achieve this by introducing a communication layer to provide real-time tech support for developers and users, upgrading Web3 applications, and by increasing the number of validator quorums from 29 to 100. The blockchain also intends to launch their new Layer 2 infrastructure, zkBNB, and BNB Greenfield, the blockchain-based Web3 infrastructure.

    This past year, BSC has made strides in increased user activity, with daily transactions going up by nearly 60%, however, its success has not been without major disruptions. BSC suffered a temporary halt in operations following a $600 million hack in October and several decentralized finance protocols within its network have witnessed hacks throughout the year.

    The progress that BSC has made this far towards providing a more secure and efficient blockchain network is remarkable. By making transactions faster and cheaper via their L2 scaling solutions, they are creating an ecosystem that can compete with rival blockchain networks. As the network continues to grow, increasing its validator quorum and launching its Layer 2 infrastructure, BSC promises to be an intriguing development in the blockchain industry moving forward.

  • Spin ($SPIN) Token Airdrop Guide: How to get a second airdrop?

    Spin ($SPIN) Token Airdrop Guide: How to get a second airdrop?

    Spin is a decentralized crypto trading platform built on NEAR Protocol. It offers users a secure, fast, transparent, and cost-effective way to trade in digital assets. Their user experience is designed to be competitive with centralized exchanges, while still providing the benefits of decentralization. Spin has already completed its first airdrop in December 2022 and was a huge success. Don’t worry if you missed out on their first airdrop because Spin is now in the final countdown for its second (bigger) airdrop, and a snapshot will be taken soon. Here’s our guide on how you can get the second Spin token airdrop.

    Spin ($SPIN) Airdrop Step-by-step Guide

     Spin has successfully completed its first airdrop in December 2022. Here’s how to get the second $SPIN token airdrop:

    1. Use Spin mainnet.
    2. Participate in the Spin community.
    3. Own Spin NFTs.

    See below for more details.

    What is Spin?

    Spin is a decentralized trading platform built on NEAR Protocol. It provides users with a range of products and services designed to meet the needs of both novice and experienced traders, DeFi investors, and those seeking passive income. Spin combines the best of CeFi and DeFi to create an advanced 360° trading platform that offers a user experience comparable to that of a centralized exchange, without compromising on security, speed, transparency, or trading costs. Their features include spot trading, instant swaps, and perpetual features. They will also be launching their Automated Investment Products (AIPs) soon.

    What is the Spin token?

    Spin has a native token known as $SPIN and is a utility and governance token. Utilities of the $SPIN token include:

    • Staking $SPIN can entitle you to 50% of the platform’s fees.
    • Trading actively on Spin can get you $SPIN token incentives as a reward.
    • Market makers receive $SPIN according to the amount of liquidity they provide, the spreads, and their uptime.
    • Vault users can receive rewards for depositing in Vaults (e.g. options premiums) and $SPIN tokens.

    $SPIN has a total token supply of 1 billion tokens, of which 2.0% of the total token supply (i.e. 20 million $SPIN) will be allocated towards airdrops. Of this, 0.5% i.e. 5 million $SPIN have already been distributed in their first airdrop. So the second larger is going to be 3 times the size of the first!

    How to receive $SPIN airdrop?

    Spin has already done a first airdrop in December 2022. During this airdrop, 0.5% of the total token supply (i.e. 5 million $SPIN), were allocated to the Early Adopters’ Airdrop.

    Spin confirmed they will have a final $SPIN token airdrop for not-so-early users before their token launch, and which activities will qualify. 1.5% of the total $SPIN token supply (i.e. 15 million $SPIN), will be distributed in this airdrop. But, the vesting period will be stricter and longer. Here’s how to get the second $SPIN token airdrop:

    1. Use Spin mainnet.
    2. Participate in the Spin community.
    3. Own Spin NFTs.

    Use Spin mainnet

    Spin’s mainnet has already been launched and all activities on it will count towards the second airdrop. Their protocol offers spot, perpetuals trading, and decentralized option vaults (DOV). To use Spin’s mainnet, go to their website and click “Trade on Spin”. Then, connect your wallet. You can then trade on their perpetual markets, spot markets and swaps. They also have a “Strategies” feature which allows users to choose a strategy to deposit funds. These Strategies will then start to generate income from option premiums. This is by running a weekly automated covered call strategy. Note however that this is Spin’s mainnet, so you will be using your own funds to trade.

    Participate in the Spin community

    Be an active participant in the Spin community by following their Twitter, and joining their Discord and Telegram. You can also go to Spin’s Crew3 questboard to complete their quests. However, this is only available for those who have the Spinosaur role on Discord.

    Own Spin NFTs

    Spin has released its own set of Freaky Elves NFTs. Owning a Freaky Elf NFT gives you the following perks:

    • Guaranteed and priority access to the SPIN IDO (Initial DEX Offering).
    • Access to premium product features on Spin. Such as fee discounts, early access to alpha features, special avatars, etc.
    • Get special Discord roles and private chat access with other NFT holders.

    All Freaky Elf NFTs have been minted. However, you can buy them from NFT marketplaces such as Para.

    How to claim Spin token airdrop?

    As mentioned, Spin has already done a first token airdrop where 0.5% of the total $SPIN supply (i.e. 5 million $SPIN) was airdropped to users. These airdropped $SPIN tokens are required to be locked up for 3 months after the public token sale. To claim your first Spin token airdrop, go to their Airdrop Page and connect your wallet.

    Spin token airdrop review

    When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.

    Likelihood of Airdrop: Spin has done a successful airdrop before and confirmed they will do a second one soon.

    Airdropped Token Allocation: 1.5% of the token supply (i.e. 15 million $SPIN), will be distributed in this airdrop.

    Airdrop Difficulty: Participating in this airdrop is going to be difficult. Users will have to be active on the Spin mainnet, and although they have different products to choose from (e.g. spot or perpetual trading), it does require users to use their own funds. Spin has also confirmed that holding its Freaky Elves NFT may entitle you to airdrops, but these have all been minted already. So you will need to buy them from NFT marketplaces.

    Token Utility: $SPIN and is a utility and governance token. $SPIN is also distributed as a reward for various activities on the protocol.

    Token Lockup: Those who received the first $SPIN airdrop are locked up for 3 months after the public token sale. The team has said that the lockup for the second $SPIN token airdrop will be “stricter and longer”, but it is unknown how long it will actually be.

  • Thala Labs ($THL) Token Airdrop Guide: CONFIRMED!

    Thala Labs ($THL) Token Airdrop Guide: CONFIRMED!

    Thala Labs is a decentralized finance (DeFi) protocol that is building a yield-bearing stablecoin and a liquidity provisioning layer on Aptos. Thala is currently in testnet phase, and will eventually release its $THL token and airdrop. In this article, we provide the ultimate Thala Labs ($THL) token airdrop guide so you can be in the best position to maximize any potential airdrop.

    Thala Labs ($THL) Airdrop Step-by-step Guide

    Here’s how to receive a potential Thala Labs ($THL) token airdrop:

    1. Go to Thala and connect your wallet.
    2. Get testnet APT tokens.
    3. Create a vault
    4. Deposit $MOD to the stability pool
    5. Redeem $MOD for $APT
    6. Add to liquidity pools
    7. Submit bug reports
    8. Collect an exclusive Thala NFT

    See below for more details

    What is Thala Labs?

    Thala is a decentralized finance (DeFi) protocol that operates on the Aptos blockchain. In its most recent funding round, Thala raised US$6 million in a seed round co-led by Shima Capital, White Star Capital and Parafi Capital. Thala offers two main products: Move Dollar and Thala Swap.

    Move Dollar (MOD) is a decentralized, censorship-resistant stablecoin designed to facilitate transactions, interactions, and other activities within the Aptos DeFi ecosystem. It is backed by a basket of on-chain assets, including liquid-staked derivatives, liquidity pool tokens, deposit receipt tokens, and RWAs. Hence it provides users with a store of value, a medium of exchange, and a unit of account. MOD also offers users the opportunity to earn yield on their investments.

    Meanwhile, Thala Swap is an automated market maker that enables users to create dynamic pool weightings. This protocol supports a variety of pools, such as weighted pools, stable pools, and liquidity bootstrapping pools. Thala Swap unlocks additional use cases for MOD tokens and provides deep, long-term liquidity. Additionally, Thala’s launchpad provides a secure and equitable way of distributing tokens for projects and market participants.

    What is the Thala Labs ($THL) token?

    THL is the token of Thala Labs- it is a governance token that is native to Aptos. The THL token allows holders to vote on proposals and make decisions about the future of the protocol. Through Thala Improvement Proposals (TIPs), token holders can initiate proposals, vote on issues, and suggest changes to protocol parameters. This allows holders to have a say in the direction of the protocol and transition it to a DAO model.

    Will there be a Thala Labs ($THL) token airdrop?

    According to Thala’s Documentation, there will be a total supply of 100 million THL tokens. 35 million $THL (35%) is allocated to incentivize people to use the protocol and Thala’s other future products. It is worth noting that in their tokenomics, they specifically mention airdrops in their $THL emissions schedule and total circulating supply graphs. From these graphs, we can see that around 8.3 million $THL will be distributed via airdrops and that this will all be distributed within the first year of their Token Generation Event (TGE).

    $THL emissions schedule and total circulating supply
    $THL emissions schedule and total circulating supply (Image Source: Thala Documentation)

    With the amount of funding that the project has raised, and the success of the Aptos airdrop in the past, it is highly likely that Thala will also do an airdrop in order to attract even more users onto their platform.

    How to get a potential Thala Labs ($THL) token airdrop?

    Thala Labs has recently launched Thala Swap on testnet for the general public to try out. It is hoped that using Thala Swap would make you eligible for any potential airdrop. Here’s how to get a potential Thala Labs ($THL) token airdrop:

    1. Go to Thala and connect your wallet.
    2. Get testnet APT tokens.
    3. Create a vault
    4. Deposit $MOD to the stability pool
    5. Redeem $MOD for $APT
    6. Add to liquidity pools
    7. Submit bug reports
    8. Collect an exclusive Thala NFT

    Connect your wallet to Thala

    Go to Thala and connect your wallet. Thala currently supports Martian, Pontem and Petra wallets. Note you will need to change to Aptos Testnet to connect to the site.

    Get testnet APT tokens

    Get testnet APT tokens on Thala by clicking “Faucet”, and “Collect to claim”. Then, choose your wallet and then click “approve”. You can also get APT directly from your wallet (we used Martian wallet). To do this, click “Airdrop”. Then, connect your wallet to Apotos Labs, verify the transactions on your Martian wallet, and click “Activate faucet”. You will then receive 1 APT in your wallet, but you can click “Activate faucet” multiple times to get more APT tokens.

    Create a vault

    Go to the “Vaults” tab and click “Create vault”. To create a vault, you will need to deposit $APT tokens and borrow $MOD. Note you will need to borrow at least 500 $MOD, meaning that you must deposit at least 70 $APT.

    Deposit $MOD to the stability pool

    Click on the “Stability pool” tab, choose the amount of $MOD you wish to deposit, and click “Deposit”.

    Redeem $MOD for $APT

    Click on the “Redeem” tab, choose the amount of $MOD you want to redeem, and click “Redeem”. Note you will need to pay a redemption fee.

    Add to liquidity pools

    Click on the “Liquidity pools” tab, choose which pool you wish to add liquidity to, then click “deposit”. Select the number of tokens you wish to add then click “Add liquidity”.

    Submit bug reports

    If you find a bug on the Thala platform, report it! Developers reward this! To do this, go on Thala’s Discord channel and submit a report there.

    Collect an exclusive Thala NFT

    To collect an exclusive Thala NFT, go to Thala’s Galxe campaign page and complete the 10 tasks to receive an OAT NFT. Tasks include liking and retweeting Thala’s tweets, using ThalaSwap, and joining their Discord etc.

    Thala Labs ($THL) token airdrop review

    When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.

    Likelihood of Airdrop: Thala Labs have confirmed they will have a $THL token and will be doing an airdrop. However, the team has not released details of the future airdrops yet.

    Airdropped Token Allocation: We can see from their documentation that around 8.3 million $THL tokens will be allocated towards airdrops. Also, any airdrops will be within the first year of their TGE.

    Airdrop Difficulty: As they are still in testnet stage, interacting with the protocol is free. So if they do an airdrop to reward early testers of the platform, you could potentially get an airdrop for free!

    Token Utility: The $THL token will be used for governance.

    Token Lockup: There are no details on the airdropped token lockup yet.

  • SpaceFi ($SPACE) token airdrop guide: Get free money!

    SpaceFi ($SPACE) token airdrop guide: Get free money!

    SpaceFi is the first web3 platform that will connect the Cosmos and Layer2 networks through zkSync. It offers a variety of products, including a decentralized exchange (DEX), non-fungible tokens (NFTs), a starter platform, and a spacebase. SpaceFi has already confirmed it will launch its $SPACE token, and will distribute some of these tokens via airdrops. In this article, we give you a guide on how you can earn free money with a potential $SPACE token airdrop.

    Did you know that zkSync is also doing an airdrop? This will give users the chance to potentially DOUBLE your airdrop rewards if you interact with both SpaceFi and zkSync! Check out: zkSync ($ZKS) Token Airdrop Guide: Earn double rewards!

    SpaceFi ($SPACE) airdrop step-by-step guide

    Here’s how to receive a potential SpaceFi ($SPACE) airdrop:

    1. Request testnet tokens here.
    2. Connect your wallet (e.g. MetaMask) to Space.io.
    3. Swap some $tSPACE tokens.
    4. Add liquidity to SpaceFi pools.
    5. Join the SpaceFi Discord.
    6. Join the SpaceFi Crew3.

    See below for more details

    What is SpaceFi?

    SpaceFi is a revolutionary platform that will connect Cosmos and the Ethereum Layer 2 ecosystem via zkSync. Through SpaceFi, users can trade, earn, mint, stake, sell, create, and invest in a variety of projects. With SpaceFi, users can swap assets, farm rewards, mint, and stake Planet NFTs, join or create a spacebase, and invest in new projects. SpaceFi provides users with a secure and efficient way to manage their digital assets.

    What is the SpaceFi ($SPACE) token?

    $SPACE is the native token of the SpaceFi protocol and according to their Tokenomics, would be allocated to stakeholders most aligned with the strategic direction of SpaceFi. The $SPACE token can also be converted into $xSPACE by locking $SPACE at a 1:1 ratio with a 30 days unbonding period. Meanwhile, $xSPACE can be earned from farming on their platform, or converting $SPACE tokens directly. $xSPACE can also be staked on farms to earn more xSPACE and can be used for SpaceFi governance.

    SpaceFi will have an initial supply of 60 million $SPACE tokens at genesis. 30 million $SPACE has already been released on Evmos mainnet on 7th March 2023. The remaining 30 million $SPACE will be released on zkSync mainnet when it is launched. The team has already said that a part of these tokens will be allocated toward airdrops and on the platform, there is already an airdrop page up.

    How to get a potential SpaceFi ($SPACE) token airdrop?

    SpaceFi is already available on zkSync testnet. So one way to potentially get a $SPACE token airdrop is to interact with the protocol in anticipation of the zkSync Era mainnet launch. Here’s how to get a potential SpaceFi ($SPACE) token airdrop:

    1. Request testnet tokens here.
    2. Connect your wallet (e.g. MetaMask) to Space.io.
    3. Swap some $tSPACE tokens.
    4. Add liquidity to SpaceFi pools.
    5. Join the SpaceFi Discord.
    6. Join the SpaceFi Crew3.

    Swap $tSPACE tokens

    On the platform, click the “Swap” tab. Select how many and which type of token you want to change to $tSPACE, then click “Approve”. Approve the transaction on your MetaMask and click “Swap” and “Confirm swap” on the SpaceFi platform.

    Add liquidity to SpaceFi pools

    Click on the “Pool” tab and “Add liquidity”. Then choose the 2 tokens you want to add to the pool. You may need to approve the use of the token by clicking “Approve”, then “Supply”.

    Join the SpaceFi Crew3

    Join the SpaceFi Crew3. On Crew3, You can also complete the quests on Crew3 which include following their social media accounts and joining their guilds. Completing each quest allows you to claim a reward.

    SpaceFi ($SPACE) token airdrop review

    Likelihood of Airdrop: SpaceFi have already confirmed they will do an airdrop. There is even an airdrop page up on their platform!

    Airdropped Token Allocation: The team have confirmed a portion of the 60 million $SPACE tokens released at genesis will be allocated towards airdrops.

    Airdrop Difficulty: So far, it seems that interacting with the SpaceFi testnet could make you eligible for an airdrop. But, there are many steps that need to be done (though fortunately only with testnet funds). Also, there are quite a few Crew3 quests to do.

    Token Utility: The $SPACE token can be used for staking and is given as rewards to SpaceFi’s supporters.

    Token Lockup: 60 million $SPACE will be released at genesis (30 million already released on Evmos mainnet, and later, 30 million upon zkSync Era mainnet launch). There will be a total supply of 600 million $SPACE, with token issuance being cut by one-third every year until the maximum supply of 600 million is reached.