Crypto Weekly 08/08/2022 by Cryptoweekly

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ETHEREUM: SAFEST BET IN CRYPTO

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CONTENTS $2 cryptoweeklymag.com August 2022 | Volume 35 Possible Issues Coming This Year for Binance Coin (BNB) ��7 First Time in History, Ethereum Surpasses Bitcoin in the Options Market ��9 A UK Legal Body Says Crypto Assets Need New Legal Protections ��9 A UK Financial Regulator Recommends that Crypto Investors Restrict Their Portfolios ��10 Crypto bridge Nomad Was Hacked to the Tune of Nearly $200 million �� 11 Why Ethereum Is Set To Become The No. 1 Cryptocurrency: The Flippening �� 12 Ethereum Engineers Ahead of the Merge are Resolving a Possible Bug �� 13 New Senate Committee Plan Would Make CFTC the Primary Crypto Regulator Instead of the SEC in the U.S. �� 14 Bankrupted Crypto Exchanges Leave Former Holders Wondering What's Next �� 16 Investors Should Know that the FDIC Doesn't Insure Digital Assets �� 18 A Guide to Making a Living With Play to Earn Games and NFTs �� 20 Work from Anywhere Guide to Creating an Income with Crypto ��24 List of Abbreviations and Definitions most commonly used in Crypto Space which can be helpful for the community: �� 38

CRYPTOWEEKLY Editors Letter ISSUE 35 CEO Nathan Hill nathan@cryptoweeklymag.com

Welcome to Crypto Weekly

Publisher Colin Woolley colin@cryptoweeklymag.com

Editor Robert Stone editor@cryptoweeklymag.com

Advertising Kryptochick kryptochik@cryptomag.finance

Crypto Weekly is the brainchild of the guys at CMC, and I am Rob Stone, Editor, and I hope to bring you an informative read on everything crypto, every week of the year. Another week has gone by and this is our 35th issue of Crypto Weekly.

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It has been entire seasons of the year working morn to night getting this magazine

Dilin Divan

off the ground. At 165,000 subscribers plus now it is a feeling of a job well done

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that fills me. With gratitude, it is a pleasure to provide a source of value for our readers. I have been taking a long-needed respite from the wheel, but the wheels of the crypto movement never stop. I am honored to be here. The many team members of CMC are all hard at work behind the scenes round the clock to bring you the current happenings, and new ideas the world wants to know about from the cryptosphere. As usual, a lot of stuff has happened in the last week because the music never stops in the crypto sphere and the time keeps rolling on. I hope you all enjoy what we have brought together for you this week. Please let us know your thoughts,

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NEWS Updates

Possible Issues Coming This Year for Binance Coin (BNB) Robert Stone The possibility that inflation has peaked also appears to be encouraging to investors. Interest rates were raised last week by .75 points after CPI data showed inflation hit 9.1% in June. As a result of the jumbo rate hikes in June and July, some hope the Fed's inflation fight will begin to bear fruit starting with the August 10 CPI report. Additionally, some analysts believe that despite predictions of a moderate economic downturn, a "soft landing" may be possible.

ecent weeks have seen the total value of the cryptocurrency market surge, suggesting that bears are beginning to buy back in while bulls attempt to hold on "as long as possible." Growth occurred as crypto investors suffered a brutal year, with the market losing $2 trillion since bitcoin peaked at $69,000 last November due to a steep sell-off.

risks spurred by the last 90 days' digital asset correction have been discounted, with investors leaving the sidelines as risk assets rally," said the bank's analysts.

Crypto markets remain fragile, warn Bank of America analysts: "Our view is that rising rates, inflation, and a mild recession are likely discounted. However, a hard recession may result in another risk asset correction, including crypto/ digital assets." According to analysts, the crypto market has dropped by 20% twice since mid-May, demonstrating its extreme volatility.

Analysts at BofA said Monday that investors might be returning after the selloff scared them away. Bank of America noted that bitcoin, Ethereum, and Binance Coin were among the top five-layer 1 tokens that gained 17% in the two weeks ending July 26. In the last week, the total value of the space was still down by 56%, while the top 5 tokens fell by 57%. Nevertheless, the recent change in pace indicates that investors are returning to the digital asset market with optimism. "Crypto

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August 2022 | Volume 35

NEWS Updates

Crypto Markets in Ongoing Uptrend as Bitcoin Momentarily Hits $24,000 W

ith a flood of economic data this week, bitcoin, ether, and other cryptocurrencies have surged. Bitcoin's price climbed to $24,292 on Wednesday after the Federal Reserve raised interest rates by 75 basis points. Bitcoin has gained over 20% since its most recent low of $18,728 on July 2. During the same period, ether has more than doubled bitcoin's gains, jumping 57% from $1,009 to $1,737, a price the second-largest cryptocurrency hasn't seen since credit dried up for dozens of crypto companies in June. "Future inflation expectations, or the lack thereof, are driving all this," Sam Bankman-Fried, FTX's founder and CEO, said earlier in the week. "A lot of what's happening in the market is a shift in sentiment about whether the money supply is increasing

August 2022 | Volume 35

or decreasing, and it all stems from how the Fed reacts," Bankman-Fried said.

earlier this month, according to Dexterity Capital partner Michael Safai.

In November 2021, crypto assets peaked at approximately 60% in market capitalization. The sector's total market cap has returned to over $1 trillion after cryptocurrency prices rebounded over the first half of July.

As a result, stocks and crypto have benefited from the Fed's unwillingness to push the economy into an acute recession. However, Safai believes crypto markets are still vulnerable ahead of the next Fed meeting due to macroeconomic conditions driving the recent crypto rally.

Although bitcoin has stabilized in recent weeks, its long-term trend remains downward. Since mid-July, the broad dollar index (DX-Y.NYB) has fallen more than 2%. According to Luke Farrell, a crypto trader at digital asset market maker GSR, the U.S. dollar's strength peaked roughly during the same 24hour period when bitcoin hit its relative bottom at $19,134. The U.S. central bank set expectations for a 0.75% rate hike

According to Farrell, markets may benefit from the anticipation of Ethereum's merger throughout the summer. "People like hard dates, they like seeing the continued success of these 'dress rehearsal' merges, and now we're past the oversold conditions of a month ago," Farrell said. "Ethereum's core developers plan to upgrade from proof-of-work to proof-of-stake as soon as September 19."

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NEWS Updates

First Time in History, Ethereum Surpasses Bitcoin in the Options Market

n the options market on Deribit exchange, Ether (ETH) has surpassed Bitcoin (BTC) for the first time. At the time of publication, Ether options contracts on Deribit had a cumulative dollar value of around US$5.7 billion, while Bitcoin options had a value of about US$4.35 billion. As part of Ethereum's planned September merger of its current proofof-work network with its proof-of-stake

network, the record is attributed to Ethereum's upcoming proof-of-stake network. "The Merge" is expected to

result in a 90% reduction in ETH issuance followed by a rise in the value of the world's second-largest cryptocurrency, according to CoinDesk. The number of open options contracts indicates the number of call and put options contracts that an offsetting position has not challenged. Deribit is the world's biggest Bitcoin and Ethereum options exchange, accounting for more than 90% of global trading volume and open interest.

A UK Legal Body Says Crypto Assets Need New Legal Protections

n Thursday, an independent body, the Law Commission, proposed that digital assets like cryptocurrencies be classified in a new category of private property law.

Green, the Law Commissioner for commercial and common law. In addition to the existing "things in possession" and "things in action" categories of personal property, the Commission proposed a third "data objects" category.

There is a global effort to regulate the crypto asset sector, a sector that has increased and has been called a "Wild West" by EU lawmakers. In 2020 and 2021, the price of cryptocurrencies, such as bitcoin, spiked but has since plummeted. Blockchainbased NFTs, representing digital files like images, have also increased rapidly. During his time as finance minister in April, Rishi Sunak said he wanted Britain to become a global hub for crypto assets. The Law Commission was asked to examine whether current

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laws accommodate digital assets. Nonfungible tokens, or NFTs, cannot easily be incorporated into current private property law, the Commission said on Thursday. "Our proposals are designed to create a strong legal framework that protects users and encourages technological innovation," said Sarah

An open consultation paper by the Commission proposed that a digital asset should mainly consist of electronic data and be used by one individual only. "Property rights matter because they can be asserted against anyone, not just the other party to the contract," said Jason Rix, counsel at Allen & Overy. The British government published a draft law giving its regulators power over stablecoins in payments last week. Further consultations on other types of crypto assets are expected later this year.

August 2022 | Volume 35

NEWS Updates

A UK Financial Regulator Recommends that Crypto Investors Restrict Their Portfolios I

n a policy document published Monday, the UK Financial Conduct Authority warns consumers that investing in crypto assets could lead to their money being lost. In preparation for new laws extending its authority to cover digital assets, including cryptocurrencies, the financial-services regulator said it would ban bonuses for referring friends. In April, former finance minister Rishi Sunak said the country would become a hub for crypto assets. The regulator has become even more determined to take action against what it considers to be unduly risky behavior following the recent market crash, which saw bitcoin (BTC) prices plummet and assets such as terraUSD (UST) and hedge fund Three Arrows Capital collapse. In a statement, Sarah Pritchard, the FCA's executive director of markets, said the agency wants investors to be confident

August 2022 | Volume 35

and understand the risks involved before investing. "If we see products being marketed that don't contain the right risk warnings or are unclear, unfair or misleading, we will act," a January consultation concluded. Although the FCA does not have direct powers to regulate crypto assets directly, it still considers them high-risk investments when used as speculative investments .

Please be aware

Potential crypto buyers should be warned that they may lose all their money if something goes wrong with their investment. While the FCA is waiting for lawmakers to pass promised legislation extending the new rules to innovative digital assets, the new rules only apply to risky non-crypto products. According to the regulator, crypto would fall under an intermediate category known as "restricted mass-market investments."

Retail investors wouldn't be banned from marketing crypto, but there are more restrictions than for other assets, such as listed stocks. The document noted that consumers should limit their exposure to qualifying crypto assets to 10% of their net assets when they understand the risks involved. After resigning in July, Sunak is now trying to succeed Boris Johnson as prime minister with Liz Truss.

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NEWS Updates

Crypto bridge Nomad Was

Hacked

to the Tune of Nearly

$200 million I

n two hours on Monday evening, hackers stole nearly $200 million from crypto bridge project Nomad, reducing its value from $190.3 million to $11,815 as early Tuesday morning, New York time. The Nomad protocol allows users to send crypto tokens between different blockchains. A feature most tokens cannot support. At least three prominent bridge protocols have been hacked since the beginning of the year. Samsung, a security researcher with the crypto venture firm Paradigm, noted that the exploit was caused by a routine upgrade "which allowed spoofed messages on Nomad." The researcher estimated that hackers could easily access the funds because of this flaw. Based on blockchain analytics firm Chainalysis, hackers stole $3.2 billion in crypto funds last year, with the amount stolen so far in 2022 expected

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to equal the amount stolen in 2021. Researchers report that more than $2 billion has already been made off of 130 different exploits this year. A total of $1.3 billion was taken in 82 different incidents during the first quarter, most of which occurred through crypto bridge hacking incidents, including Wormhole ($326 million) and the Ronin Network ($615 million). Both teams will reimburse investors who have suffered losses from the Wormhole and Ronin incidents. Investors have not yet been informed if Nomad will be able to reimburse them. There are 24 different bridges in operation today that hold a combined total value of $11.5 billion, according to crypto data platform DeFi Lama. Like wire transfers between banks in the traditional finance

sector, users deposit cryptocurrency into bridges to withdraw a proportionate amount in a token that fits with another blockchain. This optionality lets users reap crypto service and fee advantages across multiple chains. Rather than bank tellers, the bridging process relies on automated validators that process transactions electronically. The margin of error is extremely expensive in this scenario. A valuation of $225 million was given to Nomad in April of this year, raising $22.4 million.

August 2022 | Volume 35

NEWS Updates

Why Ethereum Is Set To Become The No. 1 Cryptocurrency: The Flippening A

s it appears it's only a matter of time before Ether overtakes Bitcoin and becomes the number one cryptocurrency, the "Flippening" has set the community abuzz, as it appears it's only a matter of time before bitcoin becomes number two. Due to the blockchain's expected transition to proof of stake (PoS) by the third week of September, bitcoin has lost its status as the most valuable cryptocurrency to ethereum in recent weeks.

The Flippening is on its way. It has been two weeks since the last flippening, but partisans are still calling for a flippening again after an increase in activity and a good performance from ETH over the past couple of weeks. The cryptocurrency that powers the Ethereum blockchain appears to be on its way to becoming the world's largest by market capitalization. This would make Ethereum the most valuable

August 2022 | Volume 35

public blockchain in the world. The capitalization of Ether is currently less than half that of bitcoin, but that trend appears to be something that could be on the way in the near future. A recent influx of investors has been drawn to Ethereum's decentralized applications, smart contracts, and nonfungible tokens. Many crypto observers believe that ethereum is better than bitcoin because of this. Ethereum is now moving away from proof-of-work (PoW) to a scalable and environmentally friendly protocol. As a result of the transition, ETH will become a deflationary asset, and its energy consumption will be reduced by around 95%, potentially giving it an edge over bitcoin.

Ethereum is attracting institutional interest. Big-money players continue to be attracted to Ether. Hedge funds were

the biggest buyers of ETH options, according to crypto trading firm QCP. According to the firm, this high demand will continue as the Merge event approaches. According to Arca analyst Bodhi Pinkner, it is "very possible" that ETH could overtake bitcoin in terms of valuation in a recent interview.

"Our view of Ethereum is that the flipping is very possible. Thus, Ethereum's price relative to Bitcoin should benefit theoretically from that changing dynamic, especially in a tightening environment." Suppose ethereum can surpass bitcoin and reign supreme for quite some time. That only means blockchain technology is successfully transforming the world, and its smart contracts have a more significant impact than ever before.

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NEWS Updates

Ethereum Engineers Ahead of the Merge are Resolving a Possible Bug that addressed the malicious relay, the same issues would persist, preventing the production of blocks forever.

Options on the table During the call, it was suggested that a circuit breaker be introduced. Duping other validators can result in monopolization of MEV earnings. A simple solution would be to write code that automatically turns off the validator if a block is missed. Blocks could be deliberately withheld if validators did this.

thereum developers discussed solutions during the network's 92nd Consensus Layer Call to an upcoming snag in the implementation of the impending Merge between Ethereum's current proof-of-work (PoW) protocol and the Beacon Chain's proof-of-stake (PoS) blockchain. A researcher at the Ethereum Foundation raised concerns about a possible failure of MEV-boost. Communication between relay operators, who act as intermediaries between block builders and validators, could be affected by the vulnerability. As a result, blocks may or may not be added to the blockchain in an orderly manner. This complication should not affect the timeline of the Merge.

How does MEV-boost work? For Ethereum, the MEV-boost is essential to achieving "maximum extractible value." The MEV increases when transactions within a block are

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inserted or reordered by miners (under PoW) or block builders (under PoS). Validators can request blocks from a network of builders using MEV-boost, which helps avoid MEV centralization. Following the Merge, those interacting with the network will send their transactions over the blockchain. These blocks will then be collected by MEVboost and made available to validators. A set of validators will select and propose to the Ethereum network the most profitable blocks. The entire PoS blockchain can be disrupted if the MEV-boost malfunctions. A relay operator may have a glitch that prevents a block from being released at the right time. If a relay is unable to alert validators to malicious behavior, the validator will not be able to propose a block. MEV-boost validators would miss a series of blocks as a result. If the next set of validators were compromised, if they proposed a block

A public monitoring system for MEV activity is already in development by the Flashbots team, the developers of MEV-boost. A third-party dashboard could also be used to monitor the relays, according to other developers. Several options exist to solve the MEV-boost issue, according to Ben Edgington, the lead product owner for Teku at ConsenSys. Choosing the right approach is all it takes.". The research associate at Galaxy Digital, Christine Kim, noted, "The trust in relay operators for earning MEV has always been known, but before Thursday's call, it was unknown that relay operators could cause network downtime potentially." According to Stokes, developers are exploring options that would have users wait for the Merge to complete before using the builder or introducing a circuit breaker. He said the chances of an MEV-boost failure are meager, but he is pushing to implement a solution if one does occur.

August 2022 | Volume 35

NEWS Updates

New Senate Committee Plan Would Make CFTC the Primary Crypto Regulator Instead of the SEC in the U.S. agency to become the primary spot market regulator for cryptocurrency markets, though Wednesday's bill does not do so. Still, Behnam appears to have some lawmaker support on this front. Rep. Sean Maloney (D-N.Y.), a member of the House Agriculture Committee, asked Chris Brummer, a professor at Georgetown Law, in June whether the CFTC should "have direct statutory authority to regulate cash markets."

FTC regulation of cryptocurrency trades that are compliant with commodities law would be granted to the CFTC under a bipartisan bill introduced by the Senate Agriculture Committee on Wednesday. According to a section-by-section breakdown of the bill, the Digital Commodities Consumer Protection Act of 2022 would create a definition of "digital commodity" that would include cryptocurrencies like bitcoin and ether, but not securities, allowing the CFTC to oversee digital commodity transactions and force the registration of digital commodity platforms. The crypto industry has been pushing for either a federal agency or Congress to create a clear definition of "digital commodity" or digital security, which could give companies greater clarity on when and how they must register

August 2022 | Volume 35

with the CFTC or the Securities and Exchange Commission. The bill doesn't provide that definition. The CFTC would have some ability to define digital commodities, and the bill appears to still defer to the SEC on what a security is. Much of the bill details how digital commodity brokers would be treated similarly to their traditional finance counterparts. Currently, most crypto exchanges are regulated at the state level, with no clear federal guidelines for registration or oversight. The SEC has indicated that crypto exchanges listing digital securities should be treated as national securities exchanges. However, the SEC has been slow to act, and no formal rule-making is underway to require registration. Meanwhile, CFTC Chairman Rostin Behnam has been pushing for the

House Agriculture Committee Republicans have introduced the Digital Commodity Exchange Act, which would also grant the CFTC more extraordinary jurisdiction over crypto spot markets. However, that, too, wouldn't grant it exclusive oversight. Early this year, a Senate committee introduced a bill requesting more guidance from the CFTC on digital assets. During a hearing on the issue in February, Behnam was joined by industry experts such as Sam Bankman-Fried, founder of the FTX crypto exchange; Perianne Boring, a lobbyist for the crypto industry; Sandra Ro, CEO of the Global Blockchain Business Council; and Kevin Werbach, a professor at the Wharton School at the University of Pennsylvania. This bill would give the CFTC the authority to oversee non-securities exchanges rather than have the SEC oversee them, according to a blog post by Coin Center. Coin Center's director of research, Peter Van Valkenburgh, cautioned that the bill's text might define "dealer" too broadly.

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Bankrupted Crypto Exchanges Leave Former Holders Wondering What's Next Due to the Bankruptcy of a couple of decentralized exchanges, investors are trying to recover their money. bankruptcy filing. With little to no options left to retail investors, they seem to be stuck.

What are your options for recouping your loss? that Quadrata's General Counsel Jeffrey Blockinger said that recouping assets will depend on whether assets were segregated and how much remains on the company's balance sheet.

n Order to lure customers, crypto lending platforms Voyager Digital and Celsius were caught offering too good to be true interest after working with Three Arrows Capital, which also went bankrupt after Terra LUNA and its TerraUSD stablecoin imploded. According to a bankruptcy court filing, Voyager provides liquidity and trade settlement loans to cryptocurrency counterparties. Those who store cryptocurrency earn a "yield" on the interest earned from these loans. Its bankruptcy filing stated that "these chapter 11 cases will give the debtors a breathing spell to create a plan that will maximize its business value and

August 2022 | Volume 35

generate meaningful recovery for its stakeholders as soon as possible." The court filing shows that Celsius owes users $4.7 billion and has a $1.2 billion deficit on its balance sheet. A statement announcing the Chapter 11 proceedings states that the company has $167 million in cash on hand, "which will provide ample liquidity during the restructuring process." Following Terra's collapse and the loss of $50 billion in Luna and UST coin values over three days, many market participants had to halt operations, limit withdrawals, or take emergency bailout loans to survive, according to Celsius'

In most cases, users will end up as creditors of the bankruptcy estate, receiving less than what was deposited on the platforms, if anything. Generally, the funds will be frozen until all assets are accounted for, and a court determines that the claim is valid. The process can take a long time. Celtic warned that the funds might not be recoverable, and Voyager said some assets were held in FDIC-insured accounts. It will be interesting to see how much protection Voyager investors will receive from these accounts. If these platforms had insurance, users may be able to recover some amounts of their deposits, but insurance is unlikely to cover all losses." It was announced on July 28 that the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board would remove any possibility of investors getting their money back. Voyager Digital, a crypto brokerage firm, was ordered by the agencies to stop

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Feature

adoption of crypto. Risk managers may be able to explore crypto assets more extensively if some more guardrails and regulations closely mirror traditional finance."

What is the best approach for investors to buy crypto in the future? Even though investors have few options for recouping losses, experts recommend taking specific steps before getting back into crypto. Hayden Hughes, CEO of crypto social trading platform Alpha Impact, suggests Dollar Cost Averaging as a way to get back into crypto. informing clients their investments were insured and to remove any previous claims insinuating that it would provide FDIC insurance coverage for all funds received by and held by Voyager. "Voyager's representations about its funds are false and misleading, and based on information gathered so far, the agencies conclude that they misled and influenced customers who placed their funds with Voyager and have no immediate access to them."

Is it possible to get even a tiny amount of money back? Furthermore, bankruptcy proceedings tend to take a long time, adding to investors' frustration. An average bankruptcy proceeding can take three to four months, according to Rahsan Boykin, General Counsel at decentralized exchange platform Hashflow. Both Voyager and Celsius consider customers as "unsecured creditors," who will be the last to receive money back, so there isn't much users can do at the moment. No one has been reimbursed for the failure of

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the exchange in 2014. "There is little likelihood of any good news emerging from the bankruptcy proceedings for the company's customers." According to him, Mt. Gox is an excellent example of what to expect. A third aspect to watch is the role of third-party strategic players - FTX has offered financial relief to distressed companies in order to acquire assets at a discount. In a few years, most users will be able to deduct losses on their taxes because they are only eligible for partial reimbursements.

Is it possible to write off these losses on your taxes? In light of the fact that most of the industry-wide collapse has been caused by the Three Arrows defaults, it will depend on how much money can be recovered from Three Arrows as to how much money customers will get back. If a user experiences a total loss, BSTX's Head of Strategy Jay Fraser says that their holdings will likely be written off as bad debt on their tax returns. "Even though it is painful, this experience could aid institutional managers' long-term

Follow well-known crypto accounts on Twitter. Unlike most other industries, in crypto, information spreads quickly through Twitter," he said. "You should pay attention to traditional finance news: Crypto has been highly correlated with the stock market since 2020. Anything bad for the stock market is bad for crypto, and vice versa." He also recommends finding an expert trader to follow, for example, using a social trading platform, but remembering to only take trading tips from someone whose track record is known to you. Watching the Fed is also crucial, he said, as there's still a lot of uncertainty in the traditional markets, due to rapidly increasing interest rates, which in turn would lead to stocks, crypto and other assets continuing to drop. "Decide on your budget. Determine what portion of your salary should go towards investments, and what percentage crypto should occupy in your overall portfolio," he said. "And diversify with lower risk investments. Crypto should not be your only investment. Consider ETFs, stocks, bonds, and other assets."

August 2022 | Volume 35

NEWS Updates

Investors Should Know that the FDIC Doesn't Insure Digital Assets

t has been reiterated that the Federal Deposit Insurance Corporation does not insure crypto assets. A Friday advisory from the agency clarified the scope of its safeguards, saying several crypto companies had misled customers into believing the FDIC insured their products. A day earlier, the agency demanded that Voyager, a bankrupt crypto company partnered with FDIC-insured Metropolitan Commercial Bank, retract its "false and misleading statements."

harm. The risks increase when a nonbank entity offers crypto assets to its customers while offering deposit products from an insured bank." When these institutions fail, the agency said it only protects deposit products offered by insured banks, like checking and savings accounts. Its coverage does not extend to financial products -- such as stocks, bonds,

commodities, or digital assets -- or losses due to theft or fraud. Regulators use transaction data to spot abuses in markets, find out who is on each side of a transaction, and look for risky buildups of positions that could undermine orderly markets. "Data should be available daily and include access to order books to see spreads and liquidity across exchanges and trading pairs (in fiat and crypto)," it said.

Due to its partnership with Metropolitan, Voyager claimed the FDIC insured US dollars deposited with it. However, the FDIC said the insurance did not extend to Voyager's customers. It is the FDIC's concern that crypto assets offered by, through, or in connection with insured depository institutions (insured banks) may cause consumer confusion and

August 2022 | Volume 35

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A Guide to Making a Living With Play to Earn Games and NFTs Robert Stone

lockchain technologies, such as NFTs, reward gamers with cryptocurrency in a new generation of video games. Many gamers now earn a living on demand playing NFT-powered play-to-earn games like Axie Infinity. In this strange new world, scholarship programs and academies are springing up to help players. Although some gamers have been delighted by the advent of play-to-earn games, others have expressed dissatisfaction with their intrusion into a world they consider escapist. Games that allow you to earn money by playing are called play-toearn games. "Gold farming" has been standard practice in video games for

August 2022 | Volume 35

years, but blockchain technology and NFTs have revolutionized the way money is earned. Video games with play-to-earn features reward players with real-world rewards. Blockchain games allow players to acquire virtual items, such as clothing or land, within the game. The ownership of content, such as images or music, can be proven using cryptographically unique tokens. Unlike regular games, where in-game items are placed on walled-off data networks owned by developers, NFTs allow players to own their assets. NFTs can also be freely sold outside of the platform where they were created, which is not possible with regular games.

On any NFT marketplace, NFTs representing in-game items can be traded and sold for fiat currency. Those NFTs have real value because of their scarcity. It is only pure enjoyment that motivates us to play regular games. Playing the game is a one-way street: you pay to play, but you'll never be able to earn money until you become a professional esports player or a streamer. Real money can be earned through blockchain gaming, however, by anyone. Since blockchain technology allows users to transact anywhere, players can transfer value and be paid to play regardless of where they are.

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The rise of play-to-earn In 2018, indie studio Sky Mavis launched Axie Infinity, an indie monster-battling game based on the Pokémon series. Players collect cartoon creatures called Axies, which NFTs represent in the game. Players can battle, breed, and adventure with axes; they all have different strengths and weaknesses. Smooth Love Potion (S.L.P.) crypto tokens are earned for battling, while Axie Infinity Shard (A.X.S.) tokens are used to vote on the game's future. With 3 million daily users and $4 billion in trading volume, Axie Infinity is a popular play-to-earn game. Axie Infinity features cute monsters that need to be collected

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and fought. Filipinos and Indonesians play Axie as a means of supporting their families. Players can also lend their NFTs to other players using "Axie scholarship" programs, such as those offered by Yield Guild Games.

such as F.T.X. and Andreesen Horowitz flooding the market.

Crypto adoption is also being aided by play-to-earn games; according to Axie Infinity co-founder Aleksander Leonard Larsen, half of the game's players have never used crypto. It plans to launch free starter Axies with limited earning potential to address the challenges of onboarding new players. For each Axie Infinity, you must purchase three NFTs for hundreds of dollars.

Blockchain projects are increasingly eyeing the play-to-earn space, perhaps most notably the NFT avatar series Bored Ape Yacht Club, which recently announced a play-to-earn game.

Decentralized finance (DeFi) is also being incorporated into other playto-earn projects. With Aavegotchi, an experimental startup funded by DeFi money market Aave, players stake Aave's tokens inside cartoon creatures represented by NFTs, meaning each Aavegotchi generates yield for Aave. Real-world economic models and incentives in gaming could turn it from escapist pursuit to blatantly capitalist investment industry, say some gamers who are already fuming at publishers' monetization methods through "pay-towin" models and lootboxes. Play-to-earn shows no signs of slowing down anytime soon, with investment from companies

New play-to-earn games are coming on the scene.

The Forgotten Rune Wizard Cult also announced a partnership with metaverse developer Bisonic as part of its plans for a blockchain game. In exchange for rewards, the community will create game lore and custom NFTs as part of the project's "createto-earn" model. Despite the semantic differences, it is clear that wizards will be playing in a virtual world where they can own land, gather resources, craft items, mint NFTs, and help build the world. The blockchain gaming sector will take off in 2022, according to Loopify, a renowned NFT collector, writer, and creator. Treeverse is a play-to-earn massively multiplayer online role-playing game (MMORPG). As in classic games like Runescape, Treeverse will allow players to exchange in-game assets as NFTs, as well as reward them for playing. The in-game art for Treeverse, which

August 2022 | Volume 35

NFT

Feature draws inspiration from Journey, Zelda: Breath of the Wild, and Valheim, still needs work. Recently, Loopify released Timeless, a free collection of 11,111 characters for NFTrees holders.

A metaverse of possibilities Alongside play-to-earn gaming is the metaverse, a shared virtual world in which users interact as avatars, meet up, and play games together. The metaverse is expected to use blockchain, cryptocurrency, and nonfungible tokens to represent virtual objects and land parcels. NFTs are already being brought into the metaverse by metaverse platforms like The Sandbox, Decentraland, and CryptoVoxels. At the same time, mainstream companies such as Facebook (now rebranded as Meta), Adidas, and Samsung have already staked their claims. Even though the metaverse is still in its infancy, live concerts and meet-ups are already taking place. The metaverse promises an interoperable world, and NFTs allow in-game items to cross between metaverse platforms, making

play-to-earn gaming more attractive. Playing games, wherever you are, can earn a living, regardless of where you live. P2E games have become a mainstream component of nearly every metaverse out there in the past few years, with each platform offering its own cryptocurrency to compensate online gamers. Play-to-earn games have grown in popularity because they offer players a chance to earn currency with realworld value while having fun. Another aspect of NFTs is their ability to become profitable assets.

Here is a list of what many would agree are the best P2E platforms Play-to-earn games will undoubtedly become more prevalent in online gaming. It is possible to earn extra money today as an avid online gamer by cashing in on this trend.

Axie Infinity is a clear #1! In this tradeand-battle play-to-earn game, players collect, breed, raise, battle, and trade axes - Ethereum-minted virtual tokens - in this trade-and-battle play-to-earn game. Axies come in various styles and can be customized in endless ways. By defeating other players, players earn Smooth Love Potion tokens that can be traded for Axie Infinity Shards, the game's primary utility token. Axie Infinity has about a million and a half daily active users. The Philippines and Vietnam have developed a digital economy based on crypto assets thanks to Axie Infinity. Find out more here: Axel Infinity In Alien Worlds, an immersive sci-fi adventure game with a play-to-earn element, you can play, mine, and upgrade to create your own immersive gaming experience. A player captures NFT alien species and uses them to mine or find items. A player's chances of winning increase as they upgrade. T.L.M. is the symbol for the official cryptocurrency of Alien Worlds. Trading NFTs and winning battles are two ways players can use the T.L.M. token. To get started, players will also need mining tools, land, and T.L.M. deposits. Find out more: Alien Worlds 'The Sandbox' is a blockchainbased game where players can build, craft, and survive. Combining creativity, strategy, and survival skills, The Sandbox encourages players to buy and sell NFTs on the platform. Players can buy SAND in-game currency tokens to build a house or a castle or earn more tokens. The more items players build, the higher their level will be. Find out more: The Sandbox

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NFT

Feature Decentraland is a virtual reality platform that allows players to create their own 3D world, buying land and developing it within it. When a player buys land, they can use it to build anything they want, such as a different game or an online store. The player can also pay another user to protect their land while they are offline. The MANA currency of Decentraland can be purchased and stored using an Ethereum wallet. The platform will then allow them to participate. Find out more: Decentraland CryptoBlades was released on Binance Smart Chain in April 2021 as an RPG-style NFT game. SKILL tokens, the game's native currency, are purchased by players at the start of the game. Characters and weapons can be purchased and forged with their SKILL. After winning battles against enemies, players can withdraw SKILL, sell it on the secondary market, or use it to purchase more in-game assets. More here: CryptoBlades Moola, or M.L.A., the in-game currency, can be collected by playing mini-games and completing quests on Blankos Block Party. Credit cards can also

be used to purchase Blanko Bucks. Ingame abilities are provided by Blankos, which are NFTs created by partners. Blankos can be bought, sold, and traded for different perks. One of the best "earning games," Blankos Block Party, allows users to earn NFTs while having fun and also trade them for other cryptos through external exchanges. Gods Unchained players collect NFT cards to compete against one another in this blockchain-based game. Throughout the game, powerful beings are known as "Gods" possess unique abilities. GODS, the in-game currency, can be used to purchase these cards and earned by defeating other players. A virtual pet game called My DeFi Pet allows players to earn money by raising them. It runs on Binance Smart Chain and KardiaChain. Through the game's blockchain-based m a r ket p l a c e,

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players can buy, sell, and trade pets. Additionally, they can customize pet features such as color, fur patterns, eyes, monogram style, head shape, and wings to create unique NFTs of their pets. You can purchase items from the official website or trade NFTs for DPET, the ingame currency. DPET coins can also be used to purchase clothes, food, and other items for virtual pets. With Star Atlas, an astronomy-based play-to-earn game, users can explore space and trade NFTs of planets, stars, and other items. In this virtual galaxy, players can also travel at warp speed to discover new worlds. There are unique features to each planet or star in the game, making them all different from one another. The ATLAS token is used as a utility token, while the POLIS token is used as a governance token in a blockchainbacked game like this. By staking their ATLAS tokens, players can earn POLIS. Users can curate different horses as NFTs - on Zed Run, a horse racing play-to-earn game that allows them to buy, sell, and trade with other players. Horses can also be bred or upgraded to become stronger. To earn rewards, users race their horses in this play-toearn game. To win races, players can upgrade each horse's strengths and weaknesses. Besides betting on other players, they can also earn money by betting on themselves.

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Feature

Work from Anywhere Guide to Creating an Income with Crypto Robert Stone

ou buy cryptocurrencies and hope the price rises so you can sell them for a profit. Despite the numerous opportunities to earn money with cryptocurrencies, many people are unaware of them. This article is for you if that sounds like you. The value and popularity of Bitcoin and other cryptocurrencies, such as Ethereum, Monero, and Maker, were never expected when they were first introduced. Is it too late to take advantage of the moment? There has never been a better time for investing, trading, mining, and staking than now, especially after the recent crash because prices are low. Investing and trading in any asset class carries some risk, but some asset classes are riskier than others. You also have risks related to how you invest or

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trade. Being a day trader or scalper is the riskiest unless you know what you are doing, and then it can be solid longterm income once you have become informed and practiced. There are quite a number of ways to accomplish pure freedom from the world most of us will never have a clue about, and I will simply explain them within the limits of this single article to inform you of their presence. If any of them are right for you, be sure to “do your own due diligence,” as we say in the crypto world, and inform yourself in depth about the subject. Hang on and enjoy the ride! Do not be intimidated by cryptocurrency. It is both a part of computer science and a part of finance. It is easy to get started, and there is no need to be an expert. You can still earn money online, even in 2022, if you invest

smartly and have a little luck. It is widely discussed as a form of investment, with whole websites tracking the value of a single Bitcoin. Although many people use crypto to pay for purchases, it is also widely used as a form of payment.

Just Buy and HODL It is the most common way to make money with cryptocurrencies, and you will better your chances if done correctly. To earn money with crypto, you cannot just buy any project token and expect it to work; you need to do your homework. Bitcoin or Ethereum is the lowest risk investments, and dollarcost averaging them into your portfolio over time is the most effective strategy. Most investors buy cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Ripple, and more and wait for their

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value to rise. Upon rising market prices, they sell at a profit. It involves identifying more stable and volatile assets that can shift in value rapidly, resulting in regular profits. In this regard, Bitcoin and Ethereum are considered safe investments due to their regular price fluctuations. If you analyze each asset before committing to HODLing it, you are welcome to trade any asset you believe will appreciate. Profits can also be made without buying the most expensive assets. A mix of altcoins with an excellent future value and are not just popular on exchanges could be a clever idea. Each altcoin has its own price shift, and thousands of them exist. To reduce the impact of market volatility on large purchases, dollar-cost averaging is an investment strategy.

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Instead of making large purchases all at once, purchases are spread out over time. For each interval, you must purchase the same dollar amount. Using this strategy, you will invest in a smaller amount of the coin or token when prices are high. It is more economical to buy the tokens at a lower price when the price is lower. The overall price of your product will be lower if you follow this strategy.

Get a Job at a Crypto Company Work opportunities in the crypto industry have expanded as crypto has become mainstream. It is possible to work for one of the hundreds of cryptocurrencies themselves or other companies or industries looking to capitalize on the crypto boom. In addition to marketing, human resources,

and cyber security, crypto companies must fulfill all the other functions of a growing business.

Crypto Airdrops Cryptocurrency airdrops allow crypto projects to give away free coins to their community members. The purpose of airdrops is to increase visibility, increase the supply of coins, and stimulate trade between cryptocurrency projects. A wallet containing a specific coin or token is typically required to participate in an airdrop. Airdrops require coins or tokens to be stored in the wallet for some time before they can be distributed. The free cryptocurrency will be deposited directly into your wallet if you qualify, or you may need to claim it.

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Trading Day Trading: Day trading involves anticipating whether a price will increase or decrease. Buying (going long) or selling (going short) will depend on how you think the price will move. The hold time for day trading can range from a few minutes to several hours. The riskiest trading style is day trading because it is difficult to predict such short-term price movements. Consider using technical and fundamental methods to analyze stocks if you want to be a day trader. They are widely used to analyze all traded assets.

Stake Your Crypto Like a certificate of deposit, crypto staking is like locking up your assets in the bank and earning interest. The platform on which you staked your crypto assets rewards you with rewards or interest. Staking is available on many exchanges and platforms, both centralized and decentralized. Some hardware wallets even allow you to stake crypto. Stablecoins are the lowest risk option for staking. Cryptocurrency price fluctuations are significantly reduced when you stake stablecoins. When staked, avoid lockup periods if possible.

Like any investment, this is a bit risky since you are putting money into something worth nothing at the moment, only to sell it when others need it. If you have been saving up Bitcoin from the time, it was worth a couple of cents to today, when it is worth thousands of dollars, you have made a lot of money using this strategy. Long-term investments are a great way to make money from cryptocurrencies. Predicting changes in the market will be especially helpful if you have a good understanding of the market.

Swing Trading The same applies to swing trading as to day trading when anticipating price movements. There is one significant difference: more extended time frames will be involved. It is not uncommon for positions to be held for days or weeks.

Trading using automated bots Crypto bots are software programs that will enter and exit trades based on your predetermined criteria. Compared to manual trading, trading bots have

Investing Cryptocurrency investing is one of the most popular ways to make money. Investing in a business works similarly, but there is a slight twist. Buy-and-hold strategies are much better than investing your money, watching the business boom, and making a profit on its own. Investing and trading are similar in many ways. Traders aim to profit relatively quickly, while investors make only a few changes to their portfolios each year.

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Because you generate the currency directly into your wallet using mining rigs, mining cryptocurrencies has the least risk. There is only a more significant risk if you keep the currency and mine more of it by the time its price drops. Cryptocurrency mining does not require as much effort as other methods to become highly profitable. Parts for mining rigs, which are P.C.s that run a program that mines cryptocurrency, can be hard to come by.

the advantages of being able to trade 24/7 and eliminating human emotion. Although setting up a trading bot is not easy, once it is up and running and gathers enough information about characters and trading patterns, it can perform as well as you can or even probably better. Like stocks or other securities, crypto day trading can be just as profitable. The goal of day traders is to turn a profit quickly by buying and selling assets within one day. Without studying the subject, predicting how cryptocurrency values might change on any given day or over time is hard. The easiest way to make consistent money online is through trading once you grasp specific techniques. Just sign up, buy some assets, analyze, and you are ready to day trade on any exchange today.

especially those interested in popular cryptocurrencies, will be much safer investing with this one.

Mining You have probably heard the term mining a hundred times before. In addition to its being the most popular method of making money with cryptocurrency, it has also become challenging to find P.C. parts, which is why you might have heard about it quite often.

You can make the most profit mining cryptocurrencies that are easy to generate and are also increasing in value over time if you are a risk taker. If you do this, you will not lose any more mining a cryptocurrency that might be worthless, but you will still lose valuable time that could be put to better use.

Cloud Mining The concept of cloud mining refers to using rented cloud computing power to mine cryptocurrency without having to install or directly run any software or

Unlike investing, trading produces profits in bursts rather than over the long term. The first step is buying cryptocurrencies and trading them on one of many platforms. Due to its volatility, trading in the crypto market involves a bit of risk. Technical and analytical skills are required for this strategy because prices can rise and fall in a matter of minutes. People with more experience with cryptocurrencies should choose this option, while newcomers,

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August 2022 | Volume 35

hardware. Cryptocurrency can be mined remotely by opening an account and paying a minimal fee. As a result, cloud mining firms have made mining more accessible and profitable for a broader group of people.

Staking Depositing fiat into a savings account is very similar to staking cryptocurrencies. A significant advantage of staking is that the yield is much higher. If you are lucky, a traditional bank will pay you around 1% interest. It pays as little as 0.01% to U.S. Bank, one of the United States' largest banks. Staking yields can range from 15% to 20% or even higher, depending on the coin or token you stake. Staking is available on many exchanges and platforms, both centralized and decentralized. Some hardware wallets even allow you to stake crypto. Staking stablecoins would be the least risky option. Cryptocurrency price fluctuations are mostly eliminated when you stake stablecoins. Staking should also be avoided if possible. By investing, trading, or mining coins, you can lend them to a network so they can be used in their transactions, and you will be paid a small percentage. The key to thriving in profits via this technique is finding a network with a lot of trading, where the previous knowledge comes in handy.

purchased. The liquidity section of the platform is where this process occurs. Click to add liquidity after manually entering the crypto you need to deposit.

cryptocurrencies decline in value, you could lose more money than you gain.

When the coins or tokens are paired, you stake your liquidity pair in the farm you want to join. You will receive your rewards via one of the paired cryptos. Yield is another difference between staking and yield farming. There are times when new farms go online with yields of thousands of percent. Yield will decline as TVL (total value locked) increases.

Non-fungible tokens are the latest trend in cryptocurrency—one-of-a-kind digital art and collectibles. In a blockchain, they are easy to trade because they are unique. NFTs are essential to understand before we can discuss buying and exchanging them.

When farming, you should aim for a stable market. As with staking, you need to keep an eye on the L.P. pair's price. If one or both of your staked

BUY & EXCHANGE NFTS

For many artists, the payoff has been enormous. Investors are willing to spend big money on NFTs, as evidenced by the $600,000 sale of Nyan Cat's GIF and the $2.9 million sale of Jack Dorsey's first tweet.

Yield Farming The concept of yield farming is like staking but with a few differences. There are many liquidity pools in yield farms, and each pool requires a pair of cryptocurrencies to stake. It is as simple as picking a pool and buying equal amounts of each coin or token required. The coins or tokens must be deposited together after they have been (Contd...)

August 2022 | Volume 35

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“The Sims Of Web3” CRYPTOPOLIS

ONLINE SOCIAL

NFT GAME Sign up for the whitelist today for a chance to win a Rolex Datejust 41, approx. value $15.000 USD

Initial Room Offering First And Only Real Estate Sale

Different Rarities “1380 Rooms For Sale”

- Begins June 29 -

and betting on real sports. Crypto betting offers some exciting odds since it is new to many bookmakers, and if you know a little about the e-sport scene, you can easily make a quick buck. Several crypto betting sites accept cryptocurrency as a form of payment, but not all accept it. It focuses only on one or two games and does not go indepth, only allowing you to bet on kills, towers, objectives, and all the other creative betting options that e-sports provides. Because cryptocurrency was not as popular as today, NFTs did not enjoy the same popularity as they do today. It makes sense that NFTs are also receiving attention now that the primary trading method is more widely understood and used. NFTs can be purchased with any digital image. However, for newcomers, here are a couple of tips. You should carefully select the marketplace from which you buy cryptocurrencies and what type of digital wallet you need. After acquiring an NFT, you can upload the content to the marketplace and follow the instructions to make it an NFT there. Once you have decided what kind of currency to sell, you can watch the bidding war or wait to see a buyer. Investing in NFTs can be compared to investing in cryptocurrencies, but with a twist. NFTs are difficult to value since you never know when their popularity will dip or skyrocket.

PLAY-TO-EARN GAMES Suppose you are a gamer who wants to earn money with cryptocurrency without investing any of your own money. This option is worth considering if that is the case. There are still quite a few games you can play on a casual or hardcore

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level and earn some cryptocurrency, even though it is not perfect. One of the best games for earning cash is Axie Infinity, operated by the Vietnambased company Sky Mavis. This game also allows you to acquire some digital pets called NFTs. NFTs can be sold for in-game currency, then traded for traditional currencies.

Platforms for Crypto Lending You can lend out your cryptocurrencies and earn interest with centralized and decentralized lending platforms. Be aware, however, that they operate differently.

eSports Betting in Crypto

Unlike traditional banks, centralized lending platforms operate more like lending platforms. Upon depositing crypto on their platform, you will receive interest. Check whether they pay compound interest before depositing your crypto. The concept of compound interest refers to receiving interest on both the original principal and the interest accumulated over time. Some lending platforms only pay interest on the original principal. Your total return can be significantly affected by the difference between the two. Cryptocurrency should also be locked up for a specific period, and interest should be paid in cryptocurrency.

People would laugh if you told them ten years ago that e-sports would be as popular as they are now. Despite this, e-sports are slowly becoming more popular than traditional sports in the gaming industry. Viewers for certain events have already exceeded those for the Super Bowl in the U.S. There is a similarity between betting on e-sports

There are a few ways in which decentralized finance (DeFi) lending differs from centralized lending. A peer-to-peer system replaces the intermediary with smart contracts, as the process is peer-to-peer. In addition, borrowers must deposit crypto as collateral; they receive it back once the loan is repaid.

Imagine it as a blockchain-based version of Dungeons and Dragons, with a social network and an economy that extends beyond the game. As more people discover its potential income, the game's popularity continues to rise, generating over $2.9 billion in sales. Although Axie Infinity is just one of many NFT games available, its depth and graphics will undoubtedly improve with time, thanks to cryptocurrency becoming more commonplace.

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HIDDEN gems PROJECT 1

shadeprotocol

Shade Protocol (SHD) SILK

ShadeProtocol

Developed on Secret Network, Shade Protocol consists of a network of privacy-preserving Dapps. Due to the high speed of the Secret Network, Shade has not only created a product that is privacy-friendly, scalable, and interoperable, but is also very easy to use. Despite their inherent security, traditional stablecoins, such as those pegged to gold or fiat, have a major weakness; they lack privacy. Using a stablecoin means that the merchant knows far more about you than with a credit card or debit card, allowing them to discriminate against you. Based on the Secret Network and SNIP20 private and fungible token standard, SILK gives holders the option to make their

PROJECT 2

cryptopolisgame

CryptopolisGame

In Cryptopolis your NFT collection and in-game experience get you to the top of the tower. Make real money with the $CPO

August 2022 | Volume 35

transactions private or public. With advanced flexibility and auditable privacy, SILK is a 4th generation stablecoin. Since inflation remains a growing concern globally, Shade Protocol offers a stablecoin that doesn't adhere to a single fiat currency or asset, but can react to global trends as they change. With Shade Protocol, everything will be under one umbrella, including a decentralized exchange. As governments consider how to interact and use cryptocurrencies, and more nations adopt cryptocurrencies as a hedge against inflation, at the same time the world's population becomes more familiar with cryptocurrency, stablecoins will remain a major topic of discussion. The answer to the question of what a stablecoin should be, can be found in SILK.

Cryptopolis ($CPO)

A social game where you can collect, earn, win, and display your NFTs while playing and socializing with your friends. The vision of Cryptopolis is to make managing digital assets fun. Cryptopolis strongly believes in the future of crypto gaming. Being able to have fun and make money at the same time is not a utopian dream anymore. It is here. And Cryptopolis wants to make it the most fun for any adult to do so. Play-to-earn is the approach we chose because Cryptopolis believes anyone should be able to acquire Cryptopolis NFT’s. Cryptopolis merges the Sims-like mechanics with room decorating and social interaction.

Shade_Protocol

CryptopolisGame

tokens by winning wager matches throughout the Tower, buying and selling NFT’s, and winning tournaments. The future of NFT gaming is here. Cryptopolis is free-to-play & play-to-earn. An online social platform with a blockchain back end and an associated cryptocurrency ($CPO) - Cryptopolis has a progression system based on acquiring resources, items (as NFTs), and prestige - Where players connect with each other and perform activities together. But they also compete with each other for in-game standing (prestige) and $CPO in various minigames. Cryptopolis is the first gamified social platform whose users can earn real money by playing and trading NFTs.

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CLICK HERE

www.estatex.eu www.estatex.eu

BEGINNERS

guide

Cryptocurrency

Buying Guide for Beginners Robert Stone

t first, buying cryptos such as Bitcoin, Dogecoin, Ethereum, and others can be confusing. It's relatively easy to learn. Start investing in cryptocurrency by following just a few simple steps. First, choose a Crypto Exchange or a Swap site such as Pancakeswap. You can buy crypto with either, but they differ in a few key areas.

Exchanges: Why Do We Need Them? Traders and buyers meet on cryptocurrency exchanges to trade cryptocurrencies. New crypto investors may find it intimidating to use exchanges

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because of their complicated interfaces with multiple trade types and advanced performance charts. Coinbase, Kucoin, and Binance U.S. are three of the most popular cryptocurrency exchanges in the U.S. Beginners with no experience trading stocks may be overwhelmed by these companies' standard trading interfaces. Still, they also offer easy purchasing options as well. In exchange for their convenience, the beginner-friendly options cost considerably more than the standard trading interfaces on each platform. Make your first crypto purchase before or not long after you learn enough about

the standard trading platforms to save on costs. If you're new to crypto, you'll want to ensure that your exchange or brokerage allows U.S. dollar transfers and purchases. To trade crypto, you'd need to find another exchange that accepts the tokens your preferred exchange accepts.

Cryptocurrency Brokers: What Are They? Fees charged by some exchanges are higher than those charged by others. Some are free, but they make money by selling your trading information to large brokerage houses or funds or by not

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BEGINNERS

guide

Depending on the exchange or broker, your cryptocurrency deposit may take a few days to process. I choose not to belong to exchanges that do that. A word of caution. It is extremely risky and expensive to deposit money using a credit card on some exchanges or brokers, so be sure if you are going to do that, you have chosen a known reputable company. Crypto is considered the wild west at this time, and I personally have surmised over 80% of the crypto world is composed of projects that will never amount to anything or are scams.

executing your trades at the best price. By providing easy-to-use interfaces that connect to exchanges for you, cryptocurrency brokers simplify the process of buying crypto. There are several crypto brokers, including Robinhood and SoFi. Brokers are undeniably convenient, but you should be cautious because you may be restricted from moving your cryptocurrency holdings. Your crypto holdings cannot be transferred to Robinhood and SoFi, for example. Crypto wallets may not seem like a big deal, but advanced crypto investors prefer them for extra security. Even more, security can be achieved by using hardware crypto wallets that are not connected to the internet.

federal regulations requires this step. You may be asked to upload a copy of your driver's license or passport and a selfie to verify your appearance. This is called "KYC" or "know your customer." Until you complete the verification process, you may not be able to buy or sell cryptocurrency.

Deposit Cash to Invest To buy cryptocurrency, you'll need funds in your account. Using your bank account, a wire transfer or a debit or credit card can be used to deposit money into your crypto account.

Crypto purchases are treated as cash advances with credit cards but not with debit cards. The interest rates and fees associated with purchases on a credit card are higher than those associated with regular purchases. Cash advances, for instance, may require you to pay 5%. Additionally, you may lose 10% of your crypto purchase to fees charged by your crypto exchange or brokerage. These fees can run up to 5% so you could lose 10% of your purchase.

Buy Some Crypto Now that you have money in your account, you can place your first cryptocurrency order. Bitcoin and Ethereum are wellknown cryptocurrencies, but there

Signing up for an account with a cryptocurrency broker or exchange is easy once you've decided which one is right for you. You can start by registering and verifying your account. Verifying your identity may be required depending on the platform and the amount you plan to purchase. Preventing fraud and complying with

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August 2022 | Volume 35

BEGINNERS

guide

are hundreds of unknown projects as well. Bitcoin, for instance, has the ticker symbol BTC, and you can enter how many coins you wish to purchase when selecting which cryptocurrency to buy. Cryptocurrencies can be purchased in fractional shares on most exchanges and brokers, allowing you to own a small number of high-priced tokens like Bitcoin or Ethereum.

Select a Wallet Cryptocurrencies should be stored securely, which is why it's so important. It's possible to steal or hack cryptocurrency exchanges since they're not protected by the Federal Deposit Insurance Corp. (FDIC). People have already lost millions of dollars of Bitcoin because they forgot their account codes. If you buy cryptocurrency through a broker, you may not have much choice regarding how it is stored. There are more options available if you purchase cryptocurrency through an exchange. You can leave the crypto on the exchange. The cryptocurrency you buy is typically stored in a crypto wallet attached to the exchange when you buy it. It may be a good idea to move it to a separate hot or cold wallet if you do not like the provider the exchange

partners have or wish to move it to a more secure location. A small fee may apply depending on the exchange and the size of your transfer. Before selling any crypto token, make sure you take into account any buy and sell taxes that may apply. A "Cold wallet." Cryptocurrency wallets that don't connect to the internet are the most secure way to store your crypto assets. USB drives and hard drives are examples of external devices. Be careful with cold wallets because if you lose your keycode or if the device breaks, you may never be able to retrieve your cryptocurrencies. Specific hot wallets can also lock you out, but some are run by custodians who can help you regain access. A "hot wallet." Crypto wallets run on internet-connected devices like tablets, computers, and smartphones. Because hot wallets are still connected to the internet, there is a higher risk of theft.

Here are some alternative ways to purchase cryptocurrency Cryptocurrencies are a significant trend right now, but they are also volatile and risky investments. Here are some options to indirectly invest in Bitcoin and

other cryptocurrencies if trading on an exchange or via a broker isn't for you.

Watch out for crypto exchange-traded funds or (ETFs). Investing in multiple cryptocurrencies simultaneously is easy with cryptocurrency ETFs. ETFs are extremely popular investment tools because they allow you to purchase exposure to hundreds of individual investments at once. As a result, they provide immediate diversification and are less risky than investing in individual securities. You can invest in stocks of companies that use or own cryptocurrencies and the blockchain that powers them if you'd instead invest in tangible products or services and companies subject to regulatory oversight. To purchase shares of public companies, you will need an online brokerage account. You should consider your investment goals and current financial situation before investing in cryptocurrency or companies with a significant stake in it. In addition to being extremely volatile, crypto is still a highly speculative investment. This means you should invest carefully and with caution.

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CHANGE

IS COMING

KAPEX

List of Abbreviations and Definitions most commonly used in Crypto Space which can be helpful for the community:

CEX:

Centralized Exchange

DEX:

Decentralized Exchange

AMA:

Ask Me Anything

FUD:

Fear, Uncertainty, and Doubt

FOMO:

Fear of Missing Out

ATH:

All-Time High

ATL:

All-Time Low

HODL:

Hold On for Dear Life

ICO:

Initial Coin Offering

IDO:

Initial DEX Offering

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P2P:

Peer to Peer

C2C:

Crypto to Crypto

POW:

Proof of Work

POS:

Proof of Stake

ROI:

Return on Investment

DLT:

Distributed Ledger Technology

DYOR:

Do Your Own Research

TAYOR:

Trade At Your Own Risk

IMO:

In My Opinion

JOMO:

Joy Of Missing Out

MCAP:

Market Capitalization

OTC:

Over The Counter

SAFU:

Secure Asset Funds for Users

WHALE:

People who own large amounts of coins or tokens and ultimately move the market.

White Paper:

Holds everything you need to know about a project. You should read this before investing in anything long term.

Bear Market:

A market that is going down.

Bull Market:

A market that is going up.

Paper Hands:

Something people with no stomach have. They sell the second the market pulls back.

Diamond Hands:

Something people with an understanding of the market have that don’t make irrational decisions because of fear.

Shill:

Shill is the holder/owner of altcoins who just wants to promote his digital currency for his own benefit.

Moon:

To the Moon resembles the All-Time high.

Nocoiner:

A Nocoiner can be any person who doesn’t own Bitcoins.

Noob:

A person who is inexperienced/ new to a particular sphere or activity.

www.cryptoweeklymag.com

August 2022 | Volume 35

of the

week

NFT

Now here is some real Crypto Common Sense from James Sides. Trading advice from a full-time trader How to Make Profit Even If You Suck At Trading

August 2022 | Volume 35

Crypto Weekly 08/08/2022

Articles inside

Why Ethereum Is Set To Become The No� 1 Cryptocurrency: The Flippening��

Ethereum Engineers Ahead of the Merge are Resolving a Possible Bug��

Crypto Weekly 08/08/2022

Articles inside

Why Ethereum Is Set To Become The No� 1 Cryptocurrency: The Flippening����������������������������������������������������������������

Ethereum Engineers Ahead of the Merge are Resolving a Possible Bug�������������������������������������������������������������������������

Why Ethereum Is Set To Become The No� 1 Cryptocurrency: The Flippening��

Ethereum Engineers Ahead of the Merge are Resolving a Possible Bug��