EchoDEX is built on the Linea Network, a zero-knowledge Ethereum Virtual Machine incubated by ConsenSys. The testnet has recently launched, and the team has confirmed that users can earn $ECP airdrops by using the protocol!
EchoDEX ($ECP) Token Airdrop Step-by-Step Guide
Here’s how to get the EchoDEX ($ECP) token airdrop:
Connect to Linea Goerli Test Network
Claim Faucet Tokens on EchoDEX Testnet
Swap Tokens
Provide Liquidity
Mint NFT
Send Tweet and Wallet Address to Discord Testnet Proof Channel
EchoDEX is a decentralized exchange platform built on the Linea Network (formerly ConsenSys zkEVM). It is designed for fast and secure trading of cryptocurrencies with low fees. The platform features aggregator liquidity, which combines multiple liquidity pools from various platforms or exchanges to offer a more competitive rate to traders.
In addition to trading, EchoDEX offers users the opportunity to earn $ECP tokens through various means, including swapping their cryptocurrencies, participating in their farming program, or staking their tokens. EchoDEX provides a reliable and convenient trading experience for all crypto enthusiasts with its user-friendly interface and top-notch security protocols.
Does EchoDEX Have a Token?
Yes, EchoDEX’s native token is $ECP. Although there are no released tokenomics, EchoDEX already uses it as an incentive reward as part of its “Swap to Get $ECP” program. Users who trade crypto can earn $CEP that will be airdropped directly into their wallet. The more trades you make, the more you earn!
How to Get the EchoDEX ($ECP) Token Airdrop?
The best way to get the $ECP token airdrop is to interact with the EchoDEX testnet. Here’s a step-by-step guide:
Connect to Linea Goerli Test Network
Go to the EchoDEX testnet and connect your MetaMask wallet. Switch the network to Linea Goerli Test Network or manually add it on ChainList.
Claim Faucet Tokens on EchoDEX Testnet
On the EchoDEX Faucet page, you must first follow their Twitter and join their Discord. After doing so, you can claim 0.03 LineaETH once per day.
Swap Tokens
Use the Swap feature. If you encounter gas issues, try swapping again or wait until you can claim more faucet tokens to cover gas fees.
Provide Liquidity
Deposit your token pairs at the Liquidity Pool page. As a liquidity provider, you can earn swap fees.
Mint NFT
Claim a free EchoDEX NFT to mark your place in the EchoDEX community! Remember to import the NFT address to your MetaMask in order to view it:
Send Tweet and Wallet Address to Discord Testnet Proof Channel
Like and retweet EchoDEX’s Tweet about the testnet steps. Tag three friends, then take a screenshot and send it to the Discord Testnet Proof Channel.
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: EchoDEX has confirmed airdropping $ECP tokens as part of its “Swap to Get $ECP” program.
Airdropped Token Allocation: The total token supply is yet to be revealed.
Airdrop Difficulty: Simply swap tokens, provide liquidity, and mint an NFT to earn $ECP airdrops. Follow EchoDEX on Twitter, like and retweet their testnet tweet, and tag 3 friends. Take a screenshot and send it to the Discord Testnet Proof Channel, along with your wallet address.
Token Utility: The team will announce the details of the $ECP token soon.
Lamina1 is a layer-1 blockchain based on a fork of Avalanche, built for the metaverse. It is co-founded by Peter Vessenes (co-founder of Bitcoin Foundation) and Neal Stephenson (award-winning author, coined the term “Metaverse”). Lamina1 has hinted on Discord at conducting a token airdrop for the community. In this article, we will briefly explain what Lamina1 is what you can do to position for the airdrop.
Lamina1 ($L1) Token Airdrop Step-by-Step Guide
Here’s how to get the Lamina1 ($L1) token airdrop:
Lamina1 is a layer-1 blockchain optimized for the Open Metaverse. It is based on a fork of the Avalanche blockchain, providing builders a flexible framework to create digital assets. The network uses a high-speed proof-of-stake (PoS) consensus algorithm, customized to support the needs of content creators.
Project Team and Funding
Lamina1 was co-founded by Peter Vessenes (co-founder of Bitcoin Foundation) and Neal Stephenson (award-winning author, coined the term “metaverse”). The project has set up the Lamina1 Ecosystem Fund (L1EF), the world’s first publicly accessible ecosystem fund for layer-1 blockchains. It is designed to provide broad economic access to accredited investors interested in championing the Open Metaverse.
Does Lamina1 Have a Token?
Yes, Lamina1 has a native token called $L1. It’s a hard-capped, scarce asset that is used to pay for fees, and secure the platform through proof-of-stake. It has a basic unit of account between the multiple Subnets created on the blockchain. One nL1 is equal to 0.000000001 L1.
How to Get the Lamina1 ($L1) Token Airdrop?
The best way to get the potential Lamina1 ($L1) token airdrop is to interact with their testnet and complete tasks on Zealy. Here’s a step-by-step guide:
After your wallet is created, you’ll be redirected to your portfolio page. At the top right screen, you’ll see your X-Chain, P-Chain, and C-Chain wallet addresses and QR code.
X-Chain is for receiving funds, P-Chain is for receiving staking rewards and cross chain transfers, and C-Chain is for interacting with the Ethereum Virtual Machine (EVM).
Add Lamina1 Testnet to MetaMask
Go to the Faucet page. Click “Add Subnet to MetaMask” at the bottom, and you will automatically have the Lamina1 Testnet network on your MetaMask.
Claim Testnet $L1 Tokens on MetaMask
On the Faucet page, paste your MetaMask address and request 2 L1.
Claim Testnet $L1 Tokens on C-Chain Address
Paste your Lamina1 C-Chain wallet address and request 2 L1.
The C-Chain can only be used to claim test tokens, because the faucet is only compatible with Ethereum-based wallet clients.
Complete Tasks on Zealy
Complete the tasks on Zealy to get the “Testnet” role. This allows Lamina1 to keep track of your participation. Those who participated by accruing XP on Crew3 will receive an End-of-Testnet Giveaway!
Set Up a Node
You can also set up a node and run it on the Lamina1 primary network. They have a complete guide on it.
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: Lamina1 has addressed the community on conducting a token airdrop. They will officially announce the details soon, so stay tuned for future updates!
Airdropped Token Allocation: The total token supply is yet to be revealed.
Airdrop Difficulty: For now, the tasks are simply claiming testnet tokens on Lamina1. More features will be released soon. You don’t have to set up a node if you simply want to be a user of the protocol.
Token Utility: $L1 will be used for transaction fees and staking to secure the network.
ZKX Protocol is a perpetual futures DEX built on StarkNet. Their team has hinted at a token airdrop to the community in the future! In this article, we will briefly explain what ZKX Protocol is and what you can do to position for the airdrop.
ZKX is a permissionless protocol for derivatives built on StarkNet, with a decentralized order book and a unique way to offer complex financial instruments as swaps. It allows users to trade perpetual futures while maintaining self-custody of their funds.
Additionally, the platform is governed by ZKX DAO. Community members can earn USDC from ZKX DAO by trading, staking, providing liquidity, or becoming a node provider. The more actions a stakeholder performs, the more digital shares of ZKX they will accumulate.
In July 2022, ZKX raised $4.5 million in a seed funding round with participation from StarkWare, Huobi, Crypto.com, Amber Group, HashKey Capital and more.
Does ZKX Protocol Have a Token?
Yes, ZKX Protocol plans to launch its $ZKX token in the future. Token holders can stake their tokens to gain access to digital shares of ZKX, which is linked to both governance and protocol rewards.
ZKX has also hinted on Telegram about conducting a future airdrop. Therefore, it is likely that early testnet users may qualify for the airdrop when the token launches.
How to Get the $ZKX Airdrop?
The best way to get the $ZKX airdrop is to interact with the ZKX testnet. Here’s a step-by-step guide:
Connect Your Wallet to ZKX Testnet
Connect your MetaMask or other supported wallets to the ZKX Testnet page. Click on “Link Wallet” to sign the message confirming you are the owner of the wallet. Switch the network to Goerli.
Once your wallet is connected, you will have a ZKX account with 10,000 test USDC. Please note that this process may take some time.
Trade Perpetual Futures
Now you can start trading at the Trade page. Select a trading pair and place an order. There is a slider button you can turn on that allows you set the leverage ratio by moving the slide bar.
You can see all of your created orders at the Orders page. There are many order types on ZKX. They have a complete guide on how to trade.
Provide Feedback
You can send your feedback and requests by clicking on the “?” button on the top right screen.
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: The ZKX team has hinted on Telegram that there might be a future airdrop for the community.
Airdropped Token Allocation: There is no tokenomics yet.
Airdrop Difficulty: Simply trade perpetual futures on the testnet. The UI and UX of the testnet page are user-friendly.
Token Utility: The $ZKX token can be staked to gain access to digital shares of the protocol, which is linked to both governance and protocol rewards.
Davos Protocol is a new type of stable asset protocol that allows users to earn yield from staked assets with low collateral risk. Its mainnet was recently launched on Polygon, and early users could qualify for a potential airdrop. In this article, we will briefly explain what Davos Protocol is and what you can do to position for the airdrop.
The Davos Protocol is a new type of stable asset protocol that solves the problem of locked-up liquidity in a sustainable way. It achieves this by using liquid staking and over-collateralization to enable a real yield extracted from liquid staking rewards for Davos stable assets on proof-of-stake (PoS) networks.
The monetary policy of Davos regulates the price stability of the stable asset $DAVOS. Through a revenue distribution system, Davos rewards liquidity providers with a stable yield. It accepts coins from multiple PoS networks as collateral to borrow $DAVOS stable assets and runs diverse low-risk strategies to generate yield from the collateralized assets. The generated yield is then redistributed to $DAVOS stakers and DEX liquidity providers.
Does Davos Protocol Have a Token?
Yes, Davos Protocol uses a dual token model consisting of $DAVOS and $DGT. $DAVOS is the stable asset backed by staked MATIC as collateral, allowing users to yield farm. On the other hand, $DGT is used for platform governance, participants incentivization, and voting on upgrades such as adding a new vault or changing protocol parameters and fees.
$DAVOS is already live and in use, but the $DGT token will launch in the future.
How to Get the Davos Protocol ($DGT) Token Airdrop?
The best chance to get the $DGT token airdrop is to interact with the Davos Protocol mainnet. Here’s a step-by-step guide:
Connect Your Wallet to Davos Protocol
Connect your MetaMask or other supported wallets to the Davos Protocol app. Switch the network to the Polygon mainnet.
Deposit $MATIC as Collateral
Go to the borrow page, provide $MATIC as collateral to borrow $DAVOS tokens.
The Davos team recommends keeping the borrowing amount under 75% of the maximum limit to prevent loan liquidation, which could occur due to changes in the collateral’s value.
Stake $DAVOS to Earn $DGT
Go to the earn page, stake your $DAVOS to earn $DGT rewards which could translate to the token when it is launched.
If you unstake your tokens, you will need to repay the debt you owe in $DAVOS tokens to close your position.
Deposit on Gamma Boosted Vaults
On the same page, you can deposit USDC/DAVOS pair on Gamma via Uniswap or QuickSwap.
Provide Liquidity on Uniswap or QuickSwap
You can also directly provide USDC/DAVOS liquidity on Uniswap or QuickSwap.
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: Davos Protocol has not launched its $DGT token yet, but early users can potentially qualify for an airdrop.
Airdropped Token Allocation: Token allocation for airdrops is not confirmed yet.
Airdrop Difficulty: The steps are straightforward. Just provide $MATIC as collateral to borrow and stake $DAVOS. However, keep in mind that real funds are used, as it is deployed on the Polygon mainnet.
Token Utility: $DAVOS is the stable asset backed by staked $MATIC, whereas $DGT is the governance token of the protocol.
Token Lockup: There is no information on token lockup yet.
BitMEX is a popular Bitcoin futures exchange for advanced traders and speculators, offering leveraged positions with Bitcoin (XBT) and low trading fees, but with a steep learning curve. The coverage of this review will be from BitMEX’s details about the company up to all its features and cons.
BitMEX is a popular Bitcoin futures exchange for experienced traders and speculators, offering leveraged positions with Bitcoin (XBT) up to 100x times. Trading on BitMEX is highly risky and rewarding, so caution should be taken when using the platform.
BitMEX, established in 2014 and based in Hong Kong, is a secure and reliable cryptocurrency exchange. It offers the lowest Bitcoin margin trading fees and a straightforward sign-up process, although KYC is required. The platform has a user-friendly UI and dashboard, but it may be challenging for beginners. If you’re new to the crypto space, we recommend starting with a simpler exchange such as Bitstamp, Coinbase, or Poloniex.
Key Features of BitMEX
You can try these main features of BitMEX:
Futures Contracts. Cryptocurrencies can be bought or sold at a predetermined price on a specific date in the future through Futures Contracts.
Perpetual Contracts. These are agreements that are similar to futures contracts, but without a pre-set expiration date. You can maintain your position in these contracts for as long as you wish, or until your position is closed out.
BitMEX UP & DOWN Contracts. It offer traders the opportunity to benefit from the potential gains or losses of an underlying asset. These contracts allow users to speculate on the Bitcoin price at a specific settlement date. Furthermore, they will receive or pay the difference if their prediction is correct or incorrect.
Quanto Futures Contracts. BitMEX offers Quanto Futures Contracts in US Dollars and Tether, allowing traders to gain exposure to the USD or USDT price of assets without having to hold either USD/USDT or the asset itself.
Trade Bitcoin contracts with up to 100x leverage – maximize your potential profits with our high-leverage options.
Above-average customer support. BitMEX provides 24/7 customer support through various channels, such as a support ticketing system, comprehensive knowledge base, Weibo, Wechat, IRC, Twitter, and Reddit.
Professional and secure exchange. BitMEX deploys advanced security measures such as multi-signature cold storage, two-factor authentication, PGP email encryption, and comprehensive risk checks for every user trade.
Comprehensive order types for different trading strategies. BitMEX users can access a range of order types to suit their trading strategies, including limit, market, stop market, stop limit, trailing stop, take profit, hidden, iceberg, post-only, and close-on-trigger orders.
BitMEX Testnet. BitMEX Testnet is a great way for beginners to learn margin trading without risking real money. Moreover, it’s a 1:1 replica of the mainnet, running on fake Bitcoins, so you can get familiar with the platform before signing up on the mainnet.
Key Advantages of BitMEX
Strong Security – Assets are Kept in Cold Storage
BitMEX offers a multi-signature deposit and withdrawal system that requires multiple verification steps for added security. This ensures that your wallet, system, trading and communication are all kept safe.
BitMEX offers one of the most secure storage solutions for your cryptocurrencies, with all addresses stored in a cold wallet. Cold wallets are kept offline, meaning that even if your personal information is compromised, hackers won’t be able to access your wallet as your private keys are not exposed.
For enhanced security, it is recommended to store at least part of your crypto assets in a secure hardware (cold) wallet. Popular hardware wallets include Ledger Nano X and Trezor Model T. Both are highly appreciated by users for their security, usability, and design. If you’re looking for extra security when using BitMEX exchange, investing in a hardware wallet is a great way to ensure your funds are kept safe. All BitMEX reviews should mention this as an additional security measure.
Futures Contracts and Other Services
BitMEX is a crypto exchange that offers more than just regular trading services. It provides users with access to futures contracts, perpetual contracts, margin trading, and more.
BitMex Future Contracts:
BitMEX futures are a type of agreement to buy or sell a specific asset at a predetermined price and time in the future. This type of trading is risky due to the volatile nature of the cryptocurrency market, and investors can potentially make large profits or losses. It is important to understand the risks involved before entering into a futures contract.
BitMex Perpetual Contracts:
Perpetual contracts are similar to futures contracts, except that there is no predetermined expiration date. Buyers can hold these contracts for as long as they wish, without any pressure to sell.
BitMex Margin Trading:
BitMEX is a crypto derivatives trading platform, allowing users to trade financial assets using up to 100x leverage. This means that with an investment of just $10, traders can effectively trade as if they had $1000. This works in a similar way to a loan, allowing traders to maximize their potential profits.
Derivatives are financial products that derive their value from an underlying asset, such as Bitcoin, Ethereum, or any other altcoin. With BitMEX, traders can use margin trading to leverage their positions, but the platform’s smart margin and liquidation process will automatically close all open positions and protect traders from going bankrupt if their balance drops below zero.
To get the most out of BitMEX’s powerful features, it’s important to understand how it works. The best way to do this is to practice in “learning” mode on the BitMEX TestNet.
Practice Trading with BitMEX TestNet
BitMEX TestNet is the perfect way for beginners to practice trading without any risks. This simulation allows users to gain experience in placing, executing and canceling orders, making it an invaluable tool for those just starting out.
Create a separate account on BitMEX TestNet to practice trading Bitcoin with up to 100x leverage. Signing up only takes a few minutes and you’ll be able to view the current market and perform various actions.
BitMEX Fees – Very Low
BitMEX offers low fees for both perpetual contracts and traditional futures. The maker fee is -0.0250%, while the taker fee is 0.0750%. By minimizing your fees, you can maximize your earnings when trading on the platform.
BitMEX does not charge for deposits or withdrawals, however, when withdrawing Bitcoin, a minimal Bitcoin Network fee is required, depending on the blockchain load. Market makers receive a negative fee, meaning they receive a rebate, a small percentage of the amount spent, instead of paying extra. Market makers add liquidity to the market and set a price, while market takers trade at a price set by the market maker.
BitMEX App
BitMEX offers a mobile app for Android and iOS users, allowing them to keep track of their assets and trade cryptocurrencies on the go. Rated 4.4 out of 5 on Google Play, the BitMEX app is a must-have for any crypto fan.
Customers report that this app is easy-to-use and has a clear interface, with no technical issues encountered. Users find that navigating the app is straightforward when they know what they are doing. Download the BitMEX app to access real-time market data, make deposits and withdrawals easily, increase your security with multiple authentications and login notifications.
Helpful Customer Service
If you experience any issues or have any questions while using BitMEX, you can contact their customer support team by pressing the “Contact” button on their main page. The support is available in English, Chinese, Russian, Korean, and Japanese.
BitMEX offers helpful customer support that can solve any issues and answer important questions. Users can find answers to generic questions in the company’s FAQ section. Furthermore, specific inquiries can be addressed via email.
Key Disadvantage of BitMEX
Despite its many advantages, BitMEX has some drawbacks that should be taken into consideration. These include high fees for certain transactions, a lack of customer support, and a complex user interface that can be difficult to navigate. Additionally, the platform is not available in all countries, and it is not regulated by any government or financial authority. (https://www.tnsdiamonds.com/)
BitMEX USA – Not Available
For US citizens, finding a reliable cryptocurrency exchange platform that is compliant with US regulations can be challenging. It is important to ensure that the exchange is supported in your country before making any trades to avoid any legal issues. BitMEX services are not available in certain countries, including:
The USA
The province of Ontario in Canada
The province of Québec in Canada
The Hong Kong Special Administrative Region of the People’s Republic of China
The Republic of Seychelles, Bermuda, Cuba, Crimea and Sevastopol
Iran
Syria
North Korea
Sudan
It is important to check the laws of individual countries to ensure that crypto and trading activities are not prohibited. BitMEX does not support certain countries, so it is essential to research the legal status of crypto and trading in each country before engaging in any activities.
Not Recommended for Beginners
BitMEX offers a range of advanced trading features, including margin trading with leverage, futures contracts, and perpetual futures. However, these processes can be complex and risky for inexperienced traders, so it is important to understand the risks before engaging in any of these activities.
Making a risky decision such as BitMEX futures trading requires thorough research, market analysis, and an investment amount that you are comfortable with potentially losing. This type of trading is not recommended for beginners.
For beginners, BitMEX may not be the best option as withdrawals and deposits can only be made in Bitcoin. This means that users cannot purchase cryptocurrencies using fiat currencies, such as USD and EUR, and must transfer Bitcoin from another platform to BitMEX.
For reliable crypto exchange, Binance and Coinmama are the best options. Both platforms support fiat currencies and allow users to purchase Bitcoins easily.
No Fiat Currencies Supported and a Small Number of Coins Available
Making deposits on BitMEX can be a bit tricky for those who haven’t done it before, as the platform does not accept fiat currencies. However, this can be beneficial for experienced traders, as platforms that accept fiat currencies tend to charge higher fees.
BitMEX only deals with Bitcoin, so all profits and losses are reported in Bitcoin. It is important to be aware of this when using the platform.
Also, BitMEX is limited on supported altcoins:
Bitcoin
Bitcoin Cash
Dash
Ethereum
Ethereum Classic
Litecoin
Monero
Ripple
Tezos
Zcash
With hundreds of options to choose from, top-rated crypto exchanges such as Binance and Coinmama offer far more variety than the limited 10 cryptocurrencies available.
How to Use BitMEX?
If you’re looking to use BitMEX, you’ll need a guide on how to register and make a deposit. Here you’ll find all the information to get started with BitMEX.
How to Register on BitMEX?
Create an account on BitMEX by clicking the Register button.
Register by providing your email address, password and country of residence, then click the “Register” button.
Confirm your email address by clicking on the “Verify my Email” link.
Simply enter your credentials and you’ll be automatically logged in.
How to Make a Deposit on BitMEX?
Verify your identity to deposit funds on BitMEX.
Generate a wallet address to securely transfer assets.
Deposit only Bitcoin – no other cryptocurrencies accepted.
If you don’t own any Bitcoins yet, it’s recommended to create an account on Coinbase and purchase Bitcoins using fiat currencies, then transfer them to a BitMEX wallet address generated for you.
Conclusion
BitMEX, a cryptocurrency derivative trading platform founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, is owned by HDR Global Trading Limited and has offices around the world. With its advanced features, BitMEX provides users with a secure and reliable trading experience.
BitMEX offers advanced features such as futures contracts, perpetual contracts, and margin trading with up to 100x leverage, making it an ideal choice for experienced traders. The platform also provides a high level of security, including multi-signature deposit and withdrawal systems, multiple verification methods, and a cold wallet.
BitMEX TestNet is the perfect way to learn margin trading with leverage without any risk. With low fees, BitMEX is an ideal platform for daily traders. However, it is not recommended for those who are not experienced with cryptocurrency derivatives trading. Additionally, it is not available in some countries, including the USA, and does not support any fiat currencies.
If you are looking for an alternative to the platform you are currently considering, Binance and Coinmama are two options worth exploring. Consider all aspects of the platform before deciding if it is the right fit for your needs.
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.
Arrakis Finance is one of the largest liquidity management protocols for leading DeFi projects. The team will launch its native token, $SPICE, and has confirmed an airdrop for the community. In this article, we will briefly explain what Arrakis Finance is and how you can position yourself for the airdrop.
Arrakis Finance is a liquidity management protocol used by leading DeFi projects to bootstrap liquidity for their tokens across multiple blockchains. Some of the top DeFi projects that have adopted Arrakis vaults include Aave, MakerDAO, and Synthetix. At its peak in July 2022, the platform had $1.83 billion in total value locked (TVL).
Arrakis aims to solve pain points that many projects in web3 are facing today. Traditional Uniswap v2 automated market makers (AMM) provide a one-size-fits-all liquidity solution. While being simple, they lack efficiency and are costly to subsidize liquidity programs. Next generation AMMs like Uniswap v3 provide liquidity efficiency improvements, however at the cost of added complexity and risk to liquidity providers (LP).
The multichain landscape made liquidity increasingly fragmented and the operational overhead of managing liquidity exponentially higher. Projects are forced to spend an unnecessary amount of time and resources on complex topics such as active liquidity management, cross-chain liquidity provision, and modeling expenditures on market making programs. Arrakis solves these issues by creating a curated marketplace of novel tokenized LP strategies that facilitate deep liquidity and optimize LP earnings.
Does Arrakis Finance Have a Token?
Yes, $SPICE is a token that Arrakis Finance uses to add transparent governance and new incentive mechanisms to its protocol. The Arrakis DAO manages its tokenized strategies with its curated list of automated strategies. The protocol takes a 25% commission on fees earned from all liquidity under management as protocol revenue.
Projects get optimized liquidity without the management overhead and access to liquidity gauge emissions of $SPICE. These emissions provide additional incentives for LPs and attract liquidity to vaults. They also double as a bootstrapping mechanism for distributing governance power over the Arrakis protocol by vote locking $SPICE for non-transferable $xSPICE.
Will there be a $SPICE Airdrop?
Yes, the Arrakis team has confirmed an upcoming $SPICE airdrop on Discord, and they will announce further details soon. Moreover, if you locked $GEL tokens as part of the Gelato Network Lockdrop Program between May and June last year, you will receive $SPICE airdrops when the token launches. The Gelato Network is a web3 automation network that helped incubate Arrakis Finance.
How to Get the $SPICE Airdrop?
The best chance to get the $SPICE airdrop is to provide liquidity on the Arrakis Vaults. The protocol is live on four mainnets: Ethereum, Polygon, Optimism, and Arbitrum. So you will need real funds to qualify for the $SPICE airdrop. Here’s a step-by-step guide:
Connect Your Wallet to Arrakis Finance
Connect your MetaMask or other supported wallets to the Arrakis Finance Vault page. Switch the network to Ethereum, Polygon, Optimism, or Arbitrum, depending on where your funds are located.
Provide Liquidity to Vault
Select a liquidity pool you want and deposit your token pairs. Each pool has different rewards and fee tiers.
If you want to minimize impermanent loss risk, stablecoin pair LPs are a safer choice.
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: The Arrakis team has confirmed on Discord that there will be a $SPICE airdrop. More details to be announced soon.
Airdropped Token Allocation: The token allocation for Vault liquidity providers is yet to be determined. However, those who participated in the $GEL Lockdrop Program last year will split the 30 million $SPICE airdrop pro-rata.
Airdrop Difficulty: The steps are straightforward. You just have to provide liquidity to the Arrakis Vault. However, keep in mind that real funds are used, as it is deployed on the mainnets.
Token Utility: $SPICE is the native governance token of Arrakis Finance that adds new incentive mechanisms to its protocol.
Token Lockup: The tokenomics of $SPICE is not yet finalized.
Changelly is a secure and smooth crypto trading platform that offers users a safe and easy way to buy and sell cryptocurrencies. In our Changelly exchange review, we look at this non-custodial cryptocurrency exchange that lets you buy and sell more than 150 different cryptocurrencies using your bank card, a transfer, or other cryptocurrencies. It is really convenient, quick, safe, and easy.
Changelly is a cryptocurrency exchange that started in 2013 and became its own company in 2016. It is based in Malta and has become very popular with over 2 million users. People like it because it has never had any problems with bugs, frauds or hacking. It is easy to use and you can buy, sell and exchange cryptocurrencies without having to deposit any money. People trust Changelly to trade cryptocurrencies safely.
Changelly is owned by a group called MinerGate that is known for mining cryptocurrencies. Changelly is easy to use and supports many different currencies. It also has low fees for transactions. You can pay with credit cards, bank transfers and other ways. Because of its low fees and fast transactions, Changelly is a good choice for people who want to exchange cryptocurrencies quickly and safely.
Key features of Changelly
Changelly is an easy and safe way to buy and trade cryptocurrencies. You don’t have to sign up to exchange some types of currencies, but you do have to give some personal information if you want to use regular money to buy cryptocurrencies.
Changelly supports more than 25,000 pairs and 150 different coins, so you have a lot of choices.
The platform doesn’t hold onto your money for you.
Changelly has an app for Android and iOS phones that you can use to buy and trade cryptocurrencies wherever you are.
Changelly has really good customer service and over 2 million happy customers. You can get help by chatting on their website, emailing them at support@changelly.com or using the app.
Key Advantages of Changelly
No Personal Info
Changelly is a popular platform for exchanging cryptocurrencies. You don’t need to give any personal information to exchange altcoins. All you need is an email address. This is used for two-factor authentication and to keep track of your transactions. It also helps keep your account safe and lets you recover it if you forget your password. Changelly has good exchange rates and a lot of coins to choose from. This makes it a good choice for buying, selling, or trading cryptocurrencies. Here’s some of our tips to keep your cryptocurrencies safe.
Flat Fee
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The blockchain network charges a small fee for each transaction. Changelly charges an extra 0.25% fee for processing the payment. They claim this is the lowest fee you can find.
Changelly Safety
Changelly is a safe and reliable platform for trading cryptocurrencies. There have been no reports of scams or hacks. People say the customer service is helpful. Changelly is open about its services and there have been no big safety issues. So, Changelly is a good choice for trading cryptocurrencies.
Customer Support
Changelly has great customer support. You can get help through the website chat, app chat, email, ticket submission, or knowledge base. The website is in 12 languages, including English, Spanish, Korean, Arabic, German, Portuguese, Russian, French, Hindi, Turkish, Chinese, and Japanese. This means people from all over the world can get help. Changelly’s customer support is fast and friendly. This makes it a good choice for trading cryptocurrencies.
Changelly Mobile App
Changelly has a mobile app for Android and iOS devices. It’s easy to use and has all the features of the website. You can use the app to buy or switch cryptocurrencies on your phone. The app is safe and easy to use. This makes it a good choice for buying or switching cryptocurrencies. With Changelly, you can buy and switch cryptocurrencies easily and safely from home.
How to Use Changelly?
Sign up for Changelly
Changelly does, however, guarantee the best exchange rates available for any given cryptocurrency at any given moment. It would probably be wise to double-check the exchange rates at other cryptocurrency trading platforms just to be safe. All you need to start trading is an email address, so registering on the website takes just a few seconds.
All that’s left to do is confirm the payment and wait to get your alternative currency. On a typical day, the process shouldn’t take more than 30 minutes; but, if the platform is experiencing high traffic, don’t be concerned if it takes a little longer to acquire your money.
How to buy cryptocurrency on Changelly (fiat-on-ramp)
Buy crypto instantly with Changelly below!
After choosing the currencies and amount above, click “Buy instantly”. You will also be asked to provide your wallet address to receive cryptocurrencies. You will then be redirected to the payment merchant’s page (Banxa) for payment. Most major credit cards (i.e. Visa, MasterCard) are accepted.
How to sell your crypto on Changelly
Go to https://changelly.com/sell and choose the type of cryptocurrency you wish to sell. You will then need to verify your email and your identity with an identification document and selfie. Fiat from selling cryptocurrencies will be deposited to your credit card (Visa, MasterCard and some virtual cards) or debit card. You will also need to provide a cryptocurrency address for refunds. This is so Mercuryo, the payment merchant can refund any cryptocurrencies to you if something goes wrong, or there is a price fluctuation. You will have the option to choose to get a refund if the rate has changed by more than 5% in the time between you confirming the transaction, and when it is actually processed. Alternatively, you can choose to make an unconditional payment, meaning the transaction will be processed and you will receive fiat regardless of rate fluctuations.
How to swap cryptocurrencies on Changelly
Swap cryptocurrencies instantly with Changelly below!
Select the currency you wish to swap to and from, and the amount, then click “Exchange”. Changelly will ask you to provide your wallet address for receiving cryptocurrencies. Afterward, Changelly will give you an address to send your cryptocurrencies. Stay on this page to be updated on progress. Once the transaction has been completed, Changelly will send your cryptocurrencies to the destination. It may take a few minutes before your funds show up.
What is Changelly Pro?
Changelly Pro is a full-featured exchange platform by Changelly that allows users to upgrade their trading experience. It features an intuitive trading terminal that allows users to read signals, easily place trades and stay connected to the crypto markets 24/7. Changelly Pro also offers account security with 2FA protection, email confirmations, and whitelists for withdrawals. Additionally, it has a multi-currency wallet that allows users to manage multiple currencies without the need for additional wallets.
Changelly fees
The blockchain network charges a small fixed fee for each transaction and Changelly charges an additional 0.25% commission fee for cryptocurrency trades. According to Changelly, this is the lowest fee in the market.
Changelly Pro charges three types of fees: fees for depositing money, fees for trading and fees for withdrawing money. Changelly made their fees clear and competitive. You don’t have to pay a fee to deposit cryptocurrencies, but you do have to pay a fee to deposit regular money. The fee can be from 1% to 7% depending on how you pay and who you pay through. Changelly suggests using bank transfers because they have lower fees.
Changelly uses something called the maker-taker model to calculate trading fees. The fees are different depending on if you are adding or taking away money from the order book. Fees for makers are usually lower than fees for takers. Changelly also looks at how much you have traded in the past 30 days to figure out your trading fees. They only do this for TRADER and PRO accounts. If you trade more, your fees will be lower. For example, if you have a starter account, your fees will be 0.1% for both maker and taker. But if you trade 100,000 BTC or more in 30 days, you will only have to pay 0.03% for taker fees and nothing for maker fees.
Withdrawal fees are minimal and vary depending on the cryptocurrency being withdrawn. For example, Bitcoin withdrawals incur a fee of 0.0004 BTC, 0.003 BTC for Ethereum, and 4 USDT for Tether.
Changelly supported countries
The Changelly platform is available worldwide except for Cuba, North Korea, Iran, Syria, Crimea, Sudan, the United States of America (including all USA territories such as Puerto Rico, American Samoa, Guam, Northern Mariana Island), the US Virgin Islands (i.e.St. John, St. Croix, and St. Thomas), Bangladesh and Bolivia, and countries subject to the United Nations Security Council Sanctions List.
Changelly supported payment methods
Changelly offers a variety of payment methods for buying cryptocurrencies. These include credit cards, bank transfers, and more. The platform also supports over 150 different cryptocurrencies that can be used to buy other cryptocurrencies.
Changelly supported cryptocurrencies
Changelly supports over 150 different cryptocurrencies. A full list can be found here.
Conclusion
In this Changelly exchange review, we find that Changelly exchange is a trusted and safe crypto exchange platform that offers its users 100 different altcoins to trade in. The company is constantly working to provide the best customer experience in both the exchange and security departments. However, the main issue that Changelly has to deal with is its fiat currency exchange pricing, which has caused many people to question the safety and fees of the platform. To avoid these issues, customers can check out other recommended crypto exchange platforms such as ByBit, Binance, KuCoin, and Kraken.
When reviewing a cryptocurrency exchange, it is important to consider several key factors to ensure that the exchange meets the needs and expectations of its users. In our reviews, we have evaluated a crypto exchange based on the services it offers, the cryptocurrencies it supports, its trading fees, and its security measures. These criteria were chosen because they are essential for providing a comprehensive and reliable trading experience for users. So by examining these aspects of an exchange, we can provide an informed and objective assessment of its overall performance and value to users.
Services offered: Changelly offers an easy-to-use and simple platform for users to buy, sell, and exchange cryptocurrencies. It supports over 150 different cryptocurrencies and offers a variety of payment methods, including credit cards and bank transfers.
Cryptocurrency support: Changelly supports over 150 different cryptocurrencies. Whilst it is not the most compared to other exchanges, it is enough for most levels of traders.
Trading fees: Changelly charges a 0.25% commission fee for cryptocurrency trades, which it claims is the lowest fee in the market. However, it is important to note that the blockchain network also charges its own fees for each transaction.
Security: Changelly is considered a safe and reliable platform for trading cryptocurrencies. There have been no reports of scams or hacks, and users have praised the company for its helpful customer service when issues do arise.
Frequently Asked Questions (FAQs)
What fees does Changelly charge?
Changelly claims to have the lowest commission fee for cryptocurrency trades in the market at 0.25%. However, it is important to note that the blockchain network also charges its own fees for each transaction. For Changelly Pro, deposit fees, trading fees, and withdrawal fees are charged. Depositing cryptocurrency incurs no fees, but depositing fiat currency incurs a fee that varies from 1% to 7% depending on the payment method and fiat provider chosen. Changelly uses the maker-taker model to determine trading fees and varies them depending on whether liquidity is being added or taken from the order book. Typically, makers’ fees are lower than takers’ fees. Changelly also bases trading fees on trading volume over a 30-day period and applies them only to TRADER and PRO accounts. Minimal withdrawal fees are charged by Changelly and vary depending on the cryptocurrency being withdrawn.
Does Changelly have a mobile app?
Changelly has a mobile app that is available for both Android and iOS devices. The developers made the app as user-friendly as the website and included all the features of the website. With the Changelly app, users can buy or switch cryptocurrencies directly from their phones.
Is Changelly safe?
There have been no reports of scams, hacks, or other malfunctions within Changelly, and users have praised the company for its helpful customer service. Changelly is transparent with its services, and there have been no major issues regarding safety. As such, Changelly is considered by many to be a safe and reliable platform for trading cryptocurrencies.
Which countries does Changelly support?
Changelly is available worldwide except for Cuba, North Korea, Iran, Syria, Crimea, Sudan, the United States of America (including all USA territories like Puerto Rico, American Samoa, Guam, Northern Mariana Island), the US Virgin Islands (St. John, St. Croix, and St. Thomas), Bangladesh and Bolivia, and countries subject to the United Nations Security Council Sanctions List and its equivalent.
Can I use Changelly in the USA?
No, Changelly is not available in the USA.
Does Changelly require KYC?
Changelly does not require KYC (Know Your Customer) verification for exchanging cryptocurrencies. The only thing needed to start trading is an email address. However, for transactions from fiat to cryptocurrency, you must provide some identity information, such as an identification document and a selfie.
Is Changelly MoonPay safe?
MoonPay is a payment provider that Changelly uses to process credit and debit card transactions. According to MoonPay’s website, they encrypt all data using AES-256 block-level storage encryption while in transit. Furthermore, MoonPay has a bug bounty program that rewards individuals for finding and reporting security weaknesses. This allows MoonPay to make improvements to its security.
What payment methods are accepted by Changelly?
Changelly offers many payment methods for buying cryptocurrencies including credit cards, bank transfers, and more. The platform also allows users to buy over 150 different cryptocurrencies using other cryptocurrencies.
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.
Revolut is a UK-based mobile banking solution that has entered the cryptocurrency industry. They are offering their users a unique range of features such as CFDs, derivatives, and custodial services. In this review, we will talk about on how Revolut works and its pros and cons.
Revolut is a UK-based mobile banking solution that has recently entered the cryptocurrency industry. Although there are not many user Revolut crypto reviews available yet, it is possible to draw some conclusions about this venture.
This exchange is an innovative player in the cryptocurrency space, offering users a range of unique features such as CFDs, derivatives, and custodial services. Many users have praised the platform for its cutting-edge features.
Revolut offers three convenient ways to purchase cryptocurrencies: using held currencies like USD or existing crypto assets on your Revolut account, setting up an ‘auto-exchange’ to buy cryptocurrency at a target rate, and setting up a “recurring buy” to purchase cryptocurrency at regular intervals.
Key Features and Advantages of Revolut
This Revolut crypto review is unique. The features offered can be seen as both great investing solutions and something to stay away from. However, depending on the user, Revolut can be a great way to invest in crypto or a platform to avoid.
You Kind of Don’t Actually Purchase Cryptocurrencies
From registering on a cryptocurrency exchange, passing KYC verifications (if the exchange is centralized and regulated), transferring funds (usually in the form of fiat currency), purchasing the desired crypto asset, and then transferring it out of the exchange into a cryptocurrency wallet are the general steps involved in most cryptocurrency exchanges.
Revolut is an exception to the majority of exchanges that are currently leading the industry, as when you purchase cryptocurrency on Revolut, you don’t actually receive any crypto coins. Instead, you are credited with the amount that it costs at that time, with a contract being made on behalf of the asset.
Revolut crypto reviews often refer to the platform as “CFD trading”, but in reality, it is actually derivative trading. Derivative trading involves buying a contract for an underlying asset, based on the asset’s current value at the time of the transaction. This allows users to benefit from the asset’s price appreciation without having to own the asset itself.
The good part about Revolut’s approach is that it allows you to buy and sell cryptocurrencies quickly and easily, without having to worry about the technicalities of actually buying and selling the coins themselves. This makes it a great option for those who are new to the world of cryptocurrency and don’t want to get bogged down in the details. Additionally, Revolut’s contracts are fully backed by the company, meaning that you can be sure that your money is safe and secure.
With the increasing popularity of cryptocurrencies and the simplification of investment methods, more and more people are entering the crypto market. This is evident from the increasing number of Revolut crypto reviews from users.
Revolut is the perfect choice for those who want to make money with cryptocurrency but have no interest in actually holding their own coins. It takes away all the hassle and does all the work for you, so you don’t have to worry about transferring or owning any coins.
A Very Streamlined UI Design
Revolut is renowned for its user-friendly interface, making it one of the best mobile banking solutions and crypto exchanges available. Many online reviews praise the usability of the app, highlighting its convenience and ease of use.
Revolut is an easy-to-use mobile platform that allows users to access exchange services with ease. Whether you’re browsing the app or signing up to explore the exchange features, you’ll find the user experience to be smooth and straightforward.
Revolut is the perfect example of why ease of use is an important factor when selecting the best crypto exchange for you. The app is designed with a modern and intuitive layout, with no unnecessary buttons, and is highly responsive and fluid. With Revolut, you can be sure that your crypto exchange experience will be smooth and hassle-free.
Supports the Main Cryptocurrencies
Revolut offers a range of cryptocurrency derivatives, allowing users to gain exposure to the crypto markets without actually owning the underlying coins.
Revolut has chosen the five major cryptocurrencies that are dominating the industry and are highly ranked in popularity, making it a great choice for those new to the crypto world who want to invest in the major cryptos.
If you’re new to the world of cryptocurrency, you may not be interested in researching all the smaller coins available. Although today’s newcomers to the market are more knowledgeable about crypto, the majority still prefer to stick with the smaller, lesser-known cryptocurrencies.
If you’re a crypto enthusiast looking for a good starting point, Revolut crypto reviews can provide you with valuable insight.
Many Additional Features Available
Revolut is a mobile banking solution that offers users the ability to invest in cryptocurrencies. This additional feature allows users to buy and sell cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and more. With Revolut, users can easily manage their finances and take advantage of the cryptocurrency market.
A range of benefits come with choosing a multi-currency account, such as free UK-based accounts, reduced ATM fees, free cards, free SWIFT transfers, global express deliveries, and unlimited cross-border free transfers. Depending on the plan you choose, you can enjoy a variety of perks.
User Revolut crypto reviews highlight the platform’s ability to facilitate traditional stock investing, with a wide selection of stocks and an easy-to-use trading and investing process.
Key Disadvantages of Revolut
Bad Part of NotActually Purchasing Cryptocurrencies
Revolut Trading does not provide users with their own cryptocurrency, but instead works in a similar fashion to derivative trading. Contrary to their official blog, Revolut does not purchase or sell cryptocurrency on behalf of the user, meaning that users do not actually own the crypto.
You won’t be able to transfer cryptocurrency that you own to the Revolut platform, as it can only be bought and sold on the platform. If the coins were truly yours, you would be able to do whatever you want with them, but this is not the case with Revolut.
Crypto enthusiasts often remind users of the saying “not your keys, not your coins” to emphasize the importance of owning the private keys to their wallet, as without them, coins can be taken away at any time – something echoed by multiple Revolut crypto reviews.
Revolut’s stance on the matter is clear: their services may not be suitable for everyone. However, they do not provide a convincing argument to support this claim. It’s model of crypto trading is not suitable for everyone. If you prefer to own your own coins, transfer them, trade them freely, or keep them in your own wallet, Revolut is not the right choice. Consider Binance and Coinbase as alternative options.
Dissuasive Fees
Revolut’s crypto trading fees are unique compared to other exchanges, and unfortunately, not always in a positive way. User reviews of the platform often point out that the company employs a fee model that is not as competitive as other exchanges.
This exchange employs the VWAP (Volume-Weighted Average Price) model to calculate its crypto fees. This model takes into account the market price of a cryptocurrency that has experienced the highest volume at any given time, in order to determine the price of the cryptocurrency on the Revolut exchange.
Their lack of support for brief price swings is bad news for crypto traders, as it means they won’t be able to take advantage of short-term price movements. For example, if Bitcoin were to experience a sudden drop in price, traders wouldn’t be able to purchase it at the lower price since it wouldn’t have the most volume on the market.
Very Limited Number of Cryptocurrencies
Revolut crypto reviews note the apparent lack of additional altcoins, as the platform only supports some of the main cryptocurrencies that you might want to trade and invest in. This is in contrast to other high-end cryptocurrency exchanges, which typically support anywhere from 80 to 200 different cryptocurrencies.
Revolut may not be the best choice for those interested in exploring the cryptocurrency industry, as it offers limited support for alternative coins. If you don’t actually own any of the coins you purchase through Revolut Trading, it’s important to understand the distinction between those who will benefit from this exchange and those who should stay away from it.
Before we make a final judgement, let’s take a closer look at the Revolut platform and the process of investing in a cryptocurrency. We’ve already discussed the fees, usability features, and more, so now let’s dive deeper into the platform itself.
How to Use Revolut?
If you’ve downloaded the Revolut app, gone through the registration and identity verification processes (KYC) and are now on the main dashboard, you’re ready to purchase your first cryptocurrency on the Revolut exchange. Here’s a step-by-step guide to help you get started. (https://compassionprisonproject.org/) Note that the process may be slightly different for Revolut USA customers, as this guide is based on the European version of the app.
From the main Revolut dashboard, navigate to the second tab from the left in the lower-left corner to access the Wealth section of your account. Here, you can view and manage all of your investments.
2. At the top of the interface, you can access your assets, including traditional stocks, crypto, commodities, and vaults. In the middle of the screen, you can view your investment balance and investments. Scroll down to view the transactions you’ve made. To access the Crypto section, navigate to the Crypto part of the interface.
3. Revolut is the perfect way to get started with cryptocurrency. Our easy-to-use platform allows you to quickly and securely exchange fiat currency for digital assets. Learn more about our exchange and the world of crypto with our interactive Instagram story notifications.
4. Once you’ve done your research, you can select the cryptocurrency you’d like to buy and enter the amount of money you’d like to invest. After submitting your order, all that’s left is to wait for the funds to be credited to your account. It’s that simple!
Revolut has optimized the investment process for its users, and now with the company’s expansion into Revolut USA, US-based investors can benefit from the same process. It is important to take the time to explore the platform and understand how Revolut works to ensure it meets your needs.
Trading cryptocurrency is similar to traditional stock and commodity trading, but you should also familiarize yourself with the banking interface of Revolut to take advantage of the various plans they offer. To sell your cryptocurrency, you can go to the Crypto screen, swipe left to place a SELL order, and select the amount you want to sell.
Revolut is a leader in terms of user-friendliness and simplicity when it comes to the crypto purchasing process. It would be great if the exchange was non-custodial as well!
Conclusion
Revolut is a unique cryptocurrency trading solution that was originally designed as an online, mobile-based banking app. However, it has since evolved to become a popular platform for cryptocurrency trading and investing. In this review, we have explored the features and benefits of Revolut’s crypto trading service, as well as its drawbacks. We hope that this review has helped you to make an informed decision about whether Revolut is the right crypto trading platform for you.
I would recommend trying out Revolut’s cryptocurrency exchange, but it ultimately depends on your own personal wants and needs when it comes to cryptocurrencies.
If you are a complete novice to the world of cryptocurrencies and are only looking to make a quick profit through day trading, Revolut could be a great place to start. Many users have given positive Revolut crypto reviews, making it a popular choice for those looking to make a quick buck.
If you’re looking to hold your own cryptocurrencies in a wallet that belongs to you, or to trade a wider selection of coins, then Revolut may not be the best option. Consider platforms such as Coinbase and Binance, which offer better insurance and fee models.
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.
The increasing popularity of cryptocurrencies has led to the emergence of numerous crypto exchanges, making it challenging to find a reliable platform with essential features, necessitating a detailed Upbit review. The Upbit review will evaluate the cryptocurrency exchange’s quality by examining various aspects and provide an overview of the company’s objectives, followed by instructions on creating an account.
Upbit, a South Korean crypto exchange founded in 2017 by Song Chi-Hyung, one of South Korea’s richest men, has become one of the leading cryptocurrency exchange platforms in terms of 24-hour trading volume. With the help of Bittrex, an American crypto exchange platform, Upbit was able to launch successfully and within two months of its launch, it had already become a major player in the crypto market. Upbit offers a secure and reliable platform for users to trade cryptocurrencies, making it a popular choice for crypto traders.
Upbit embarked on expansion in Southern Asia in late 2018, starting with Singapore and later Indonesia. One unique aspect of Upbit is that it became the world’s first crypto exchange to receive Information Security Management System (ISMS) certifications from the Korea Internet and Security Agency.
Key Features of UPbit
Although Upbit is not the most eccentric or extensive exchange, its affiliation with major tech companies has resulted in a unique and focused set of features.
Various trading options. Upbit presents a wide range of cryptocurrencies and assets for users to select from.
No deposit fee is charged. Users of the platform can deposit funds without incurring any fees, making it a cost-effective option for investors looking to trade in the crypto market.
Upbit’s ecosystem. Products, services, and features provide a comprehensive digital solution, making it an ideal platform.
A key factor in its potential. Leveraging its affiliation with Kakao, Upbit has access to a vast potential user base that could propel the platform to new heights, solidifying its position as a leading crypto exchange.
Clean interface. The Upbit’s view is straightforward and uncluttered, offering users a simple and clean interface to execute trades.
Monitor various analytics. On its trading platform, Upbit offers a feature that enables users to track multiple analytics and statistics, access the latest market trends, and make more informed trading decisions.
Key Advantages of UPbit
As previously noted, I will commence this Upbit review by highlighting the platform’s positive attributes. Considering the breadth of features available on Upbit, it is essential to assess each one thoroughly.
Sturdy Security
Upbit is a cryptocurrency exchange with reliable security features, including a 24/7 monitoring system, 2-step verification, and an additional fund password for withdrawals. Completing level 4 verification is necessary for SGD deposits or withdrawals. While Upbit previously relied on BitGo to secure its wallets, the company no longer uses its services following a security breach in 2019 that resulted in the movement of $50 million worth of Ethereum to an anonymous wallet. Upbit responded by updating its wallet’s security, introducing new addresses, and transferring assets to more secure cold wallets. The company also offered full refunds to affected users, demonstrating its commitment to security and restoring trust in its platform.
To ensure the safety of your cryptocurrency, it’s suggested to choose cold or hardware wallets instead of online ones. Cold wallets keep your private keys offline and prevent hackers from accessing your wallet. Reliable options include Ledger Nano X and Trezor Model T. Although Upbit is considered one of the safer crypto exchanges, it has experienced a cyber attack, so it’s recommended to purchase a reliable crypto wallet to protect your assets.
More than 200 Assets Supported
Upbit is a top-rated crypto exchange that supports deposit and withdrawal of more than 200 assets, including BTC, ETH, LTC, and EOS. It offers a wide range of options, allowing users to find the asset they need without being limited to only a few. Upbit is one of the few exchanges that offer such a large selection of cryptocurrencies, making it a great choice for those looking for a reliable and secure platform.
Low Transaction Fees
Upbit is a reliable crypto exchange with industry-standard fees of 0.25% for both makers and takers. Withdrawal fees differ depending on the cryptocurrency, for example, BTC withdrawal fee is 0.0005BTC, ETH – 0.01ETH, LTC – 0.01. Upbit is a good platform for maximizing your profit, as fees are considered to be industry standard and in most cases, higher rather than lower. The company’s official site provides more information about the fees for other cryptocurrencies.
High Liquidity
One of the top crypto exchanges in terms of trading volume, currently ranked 63rd with a 24-hour volume of $323,555,840. It is also one of the top exchanges based on market cap. Upbit provides high liquidity, meaning that the asset can be sold for its market price very quickly. This is one of the reasons why Upbit Exchange is so recommended. The platform also interrelates trading volume and liquidity, meaning that trading volume indicates the liquidity level of a specific asset. Upbit is a reliable and secure platform for trading cryptocurrencies.
Beginners Are Welcome
Upbit is mentioned as a good option for beginners as it provides a clear interface, helpful customer support, market data, real-time trends, and analyses of different cryptocurrencies. It is emphasized that having these features will help traders make the right decisions when buying and selling cryptocurrencies. Other exchanges mentioned that may be even more beginner-friendly include Binance, Kraken, and Coinbase. The article aims to educate and encourage beginners to research and choose a trading platform that is easy to use and suits their needs. (https://www.almostthererescue.org)
Helpful Customer Support
Upbit has been praised in customer reviews for its polite and efficient customer support, which can be contacted through phone, email, and KakaoTalk. The platform also has an extensive support section on its website, including a user guide, trading guide, deposit & withdrawal guide, and an FAQ section covering topics such as account, security, 2FA, exchange, deposit & withdrawals, and trading.
The FAQ section is helpful for generic questions, but for more specific inquiries, it is recommended to contact customer support. Upbit’s customer support was tested and found to be responsive, providing clear answers and additional material for self-improvement. Upbit is an easy-to-use and beginner-friendly platform, but other highly-recommended exchanges such as Coinbase, Binance, and Coinmama should also be considered.
Available in Mobile App
Upbit is a crypto exchange that offers a desktop application for Mac and Windows devices, as well as a mobile app for iOS and Android devices. The app has 4.3 stars on the Google Play store and provides users with access to more than 150 assets and 220 markets. Security is improved by 2FA and fund password, and users can also benefit from a multi-signature cold wallet.
The majority of customers claim that the app has a clear interface that is easy to use and navigate. However, some people have had issues with the verification process and changing the password. Overall, Upbit is a reliable crypto exchange that provides a secure and user-friendly experience.
Key Disadvantages of UPbit
This Upbit review continues with a look at the potential drawbacks of the platform.
Trading With Leverage Is Not Available
Leverage trading, also known as margin trading, is a type of trading where you can trade higher amounts than you have available. It increases the potential reward but also increases the risk of losing everything. Upbit exchange does not offer margin trading, which is beneficial for beginner traders who lack the experience to make such risky investments. Negative balance protection is recommended for those who do decide to take advantage of margin trading, as it will stop them from going into minus.
Only South Korean Won Supported
This platform only supports the South Korean Won as a fiat currency. This means that if you want to purchase crypto using EUR or USD, you won’t be able to do that on Upbit. However, you can still purchase crypto using other exchanges that support fiat currencies and then transfer them to Upbit to start trading. Before doing that, you should consider other reliable crypto exchanges such as Coinbase, Binance, and Coinmama, which offer robust security, attractive features, and support multiple fiat currencies.
Not the Best Reputation
When choosing a crypto exchange, it’s important to check out customer reviews. Upbit crypto exchange has quite a good amount of negative reviews, with people mostly saying that they experience issues with the verification process and some even lost cryptocurrencies while using the platform. Additionally, Upbit has a bad reputation due to the huge hack in November 2019, which cost the company 342,000 ETH valued at about $50 million. Therefore, users should take this into account when considering Upbit crypto exchange.
Residents of the United States Are Not Eligible
When selecting a crypto exchange platform, it is important to consider not only the features it offers but also its availability in your country. Unfortunately, Upbit is only available to South Korean customers due to strict regulations. If this platform is not available to you, there are other crypto exchanges to choose from. A full list of recommended platforms can be found online, so you can find the most suitable option for you.
How Does Upbit Exchange Work?
When selecting a cryptocurrency exchange platform, it’s important to verify if it’s accessible in your location in addition to the features it offers. Regrettably, Upbit is only accessible to clients in South Korea due to stringent regulations and cannot provide services to US citizens.
If Upbit is inaccessible to you, you should consider exploring other cryptocurrency exchanges. A comprehensive list of suggested platforms is available, which will help you choose the most appropriate option based on your preferences.
How to Create an Account on Upbit?
Create an account on Upbit, the customer-friendly exchange, with ease by following this step-by-step guide.
Step 2. Please enter your email address, create a password based on the requirements, confirm that you are at least 18 years old, and check the “I’m not a robot” box.
Step 3. Navigate to your inbox and click the verification link. You have 30 minutes to complete this task.
Congratulations, you now have your own Upbit account!
Conclusion
Upbit is a well-known South Korean crypto exchange that offers over 200 supported assets, strong security, high liquidity, low trading fees, and a user-friendly interface suitable for beginners. However, despite its benefits, there are some concerns to consider. In 2019, Upbit experienced a hack that resulted in the loss of 342,000 ETH worth around $50 million. This is a significant event that should be taken into account.
Additionally, the exchange does not provide leverage trading, only supports one fiat currency, South Korean Won, and is unavailable to US residents. Therefore, it is important to carefully weigh the pros and cons before using the platform. Alternatives such as Kraken, Coinbase, and Binance should also be considered.
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.
ConsenSys is celebrating the upcoming Ethereum Shanghai/Capella upgrade with the launch of a new NFT collection called “Ethereum, Evolved: Shanghai”. The NFT claim period begins on April 12, 2023, at 9pm EST and lasts for 72 hours. If you have a MetaMask wallet, you can mint the open edition for free (excluding gas fee). So act fast to claim your piece of Web3 history!
Learn more about the Ethereum Shanghai (Shapella) upgrade and the road toward Ethereum 2.0 here.
ConsenSys Free NFT Claim Step-by-Step Guide
Here’s how to claim the free ConsenSys NFT:
Visit the “Ethereum, Evolved: Shanghai” NFT Minting Page
ConsenSys is a leading blockchain technology company that focuses primarily on the Ethereum ecosystem. Joseph Lubin, an Ethereum co-founder, established it in 2014. The company aims to drive decentralized applications (dApps) and infrastructure adoption on Ethereum. It provides tools, products, and services like MetaMask and Infura to help developers, businesses, and individuals build next-gen applications and access decentralized web technologies.
ConsenSys is also a founding member of the Enterprise Ethereum Alliance (EEA). This global organization consists of various businesses, startups, research institutions, and Ethereum experts. Launched in 2017, the EEA’s primary goal is to develop open, blockchain-based standards and promote Ethereum adoption in enterprises. Through member collaboration, the EEA seeks to create best practices, architectural guidelines, and industry-specific use cases. This approach helps integrate Ethereum into the business world more effectively and securely.
About the Ethereum Shanghai/Capella Upgrade
The Shanghai/Capella upgrade is a technological milestone in the history of blockchain that will enable users to withdraw staked Ethereum assets. The upgrade is expected to have significant improvements for stakers, the Ethereum staking ecosystem, and DeFi, reducing liquidity risk and inspiring confidence in liquid staking protocols.
The upgrade will also enable Staking withdrawals, increasing the portability of stake and driving further innovation in the staking sector. Stakers will be able to evaluate different offerings based on factors such as rewards maximization, validator performance, simplicity of the user experience, and fees, and will play a critical role in preserving Ethereum’s values.
You can claim your free NFT at the ConsenSys minting page. The claim window will be open for 72 hours starting from 9pm EST on April 12, 2023. Here’s a step-by-step guide:
Visit the “Ethereum, Evolved: Shanghai” NFT Minting Page
In order to mint the NFT, you will need to connect your MetaMask wallet. The network is on the Ethereum mainnet.
Mint and Claim NFT
Click the “Claim Your NFT” button, confirm your MetaMask address, and you will have minted yourself an NFT! The mint itself is free, but you will need some ETH to cover gas fees. You can also choose to mint again, but be careful of the gas fee.
Keep in mind that the Ethereum network may get busier at times, as more people are rushing to mint the NFT. Gas fees can get higher when the network is congested.
View NFT on MetaMask Portfolio
Once you claimed your NFT, you can see it in your MetaMask Portfolio under the NFTs tab. You can also trade it on OpenSea.
