Cryptocurrency is such an interesting topic today that everyone wants to understand. As the price of the coins appreciates by the day, people want to get a share of them. While many people may find it easy to buy their preferred digital assets such as Bitcoin and Ethereum from an exchange broker, others prefer earning and accumulating crypto through other methods.
If you are interested in knowing how to earn cryptocurrency, this article is for you. We have lined up different interesting and effortless methods for you. As you will notice, earning Bitcoins, altcoins, or stablecoins remains the most popular and simplest option.
Earn Cryptocurrency by Buying
The demand to earn cryptocurrency has increased exponentially over the years. With the emergence of new altcoins such as Dogecoin and stablecoins such as Terra, investors have hundreds of different coins they can buy.
Buying your preferred digital asset is as simple as clicking a button on a website or app and buying. Better still, you can walk to a physical exchange or a Bitcoin ATM to buy digital assets worth as much as you can afford.
However, buying incurs transaction fees charged by the platform that facilitates the process. But even if you buy directly from a seller, there is a blockchain fee. So, bear this in mind.
Get Paid by Joining Airdrops
You can earn cryptocurrency by joining a few airdrop projects that are reliable. These are aimed at creating awareness of certain products. Essentially, it involves distributing certain cryptocurrencies to various digital wallets, and those who participate earn tokens.
The more you participate in airdrops, the more tokens you earn. The good news is that you can trade your tokens for other digital coins or fiat cash.
Get Paid to Promote Microtasks
Microtasks given by different companies can help you earn cryptocurrency within a short time. A task as simple as reviewing a video, commenting on a social media platform, writing an article, or any other can give you a bounty, which you can later exchange for cash or use to build your crypto portfolio.
It is important to know where to look for microtasks to avoid being scammed. Once you get a lead, this opportunity to earn cryptocurrency is not only rewarding but effortless.
Earn Cryptocurrency Through Yield Farming
Yield farming or liquidity mining is an interesting passive way to earn cryptocurrency where the investor locks up savings and earns interest on it. The interest is often in the form of a DeFi or governance token. The deposited digital assets provide liquidity for various platforms such as exchanges and crypto lending to run their operations. If you are looking for a growing community to help you with yield farming, Loop should be your starting point.
You need to learn how to go about yield farming to get the most from it. If you are just starting with cryptocurrency, you should talk to an expert to guide you.
Cryptocurrency mining is one of the oldest options to earn cryptocurrency. However, not all cryptocurrencies are open to mining, and miners need to have the relevant hardware to solve the algorithms. The best part of crypto mining is that it is quite rewarding because your machines are used to process transactions.
One can earn a lot of tokens because tasks are always available. If you join the mining communities for your preferred coin, you must learn a lot about the process of mining before you can set up the systems needed for the task.
Work and Get Paid Using Cryptocurrency
It is possible to earn cryptocurrency by accepting digital assets for work done. This is what freelancers who are hired on a contract basis often do. You may work remotely as an independent contractor or physically in companies that are flexible in offering to pay using Bitcoins, XRP, Ethereum, or any other crypto.
Accept Cryptocurrency in Your Business
As mentioned, cryptocurrency is shaping the e-commerce world. If you have such a business, this is a prudent direction to take. It all starts by setting up the systems that will enable you to accept crypto as a form of payment. However, you need to know the best crypto to accept or synchronize your payment with an exchange that will automatically process the payment to the cryptocurrency of your choice.
Fortunately, there are many ways to earn cryptocurrency. Some are more interesting and effortless than others. Therefore, it is up to you to choose one that suits your needs in the best way. Now that you have the information, make the right decision.
Bitcoin cloud mining aids people in mining Bitcoins without involving in managing the miners. Bitcoin mining or other crypto mining is not an easy task and does not always benefit the miners. Because problems such as high electricity tariffs, currency price fluctuations, network difficulties, as well as lack of skills, time, or money to invest, are facing the miners.
Bitcoin cloud mining not only has solved these problems but also has provided the opportunity to make a profit without having to buy hardware or set up mining systems. Simply put, Bitcoin cloud mining is the process by which you lease the processing power of other mining devices to participate in cryptocurrency mining.
In this method, you buy the processing power of interconnected devices that are located in a mining farm equipped with a certain amount. After the mining process is performed by these servers and devices, the obtained cryptocurrency will be transferred to your wallet.
The advantage of this system is that the user will not be involved in issues and costs of mining operations. It also receives a share of the mining profit as much as the processing power it rents.
What are the advantages and disadvantages of bitcoin cloud mining?
The benefits of Bitcoin cloud mining include:
You will not need to use noisy cryptocurrency mining equipment at home.
You do not need to buy expensive mining systems.
You will not pay for extra electricity.
You will not encounter problems operating the equipment ventilation system.
You will not encounter hardware and software problems with mining devices.
You will not have the hassle of buying or selling mining equipment.
Disadvantages of Bitcoin cloud mining include:
There is a risk of fraud in the way the cloud mining company works and how much it earns.
You will earn less than the normal mining process.
If the price of digital currencies being mined changes, there is a possibility that mining operations will stop.
Subscribers who become members of Bitcoin cloud mining do not have control over their assets.
You will not learn the mining method.
To eliminate the disadvantages of this method, it is necessary to know the reputable cloud mining companies and become a member of one of the reliable companies.
What are the benefits of Bitcoin cloud mining over bitcoin mining?
You can experience the easiest, fastest, safest, and cheapest way to earn money from bitcoin mining by using the services that Bitcoin cloud mining offers. There are several advantages for Bitcoin cloud mining:
No machine setup: There is no need to set up complex mining devices with Bitcoin cloud mining. You can participate in Bitcoin mining immediately after purchase.
Minor and transparent maintenance fee: For bitcoin cloud mining, a small and completely transparent monthly fee is charged for electricity, maintenance, and fixing hardware, and the salary of a specialist for device maintenance, from the Miner rental subscriber.
Full interest payment: In Bitcoin cloud mining, all the customer’s interest is paid to him in proportion to the amount he has invested.
High stability and security: Bitcoin cloud mining has a more stable income. Also, income security is more than personal mining.
What is the efficiency of cloud mining?
Mining cryptocurrencies always has a lot of risks that if you are aware of them and can make the right decisions, it will guarantee you a profit.
One of the important points in partnering with Bitcoin cloud mining companies is to calculate the amount of cloud mining profit. Cloud mining contracts at some service providers may be profitable in the first few months, but you may see a decline in profits for two reasons:
Increase mining difficulty,
Reduce the price of mined cryptocurrencies.
To solve this problem, the revenue from bitcoin mining can be reallocated to buy a new hash. You should buy more mining contracts from the cloud mining service.
A Bitcoin mining profitability calculator can be used to calculate the estimated profit. If you want to make sure that you do not lose money by participating in Bitcoin cloud mining, you should choose a company that manages to keep cloud mining away from risk and in the best position.
To choose the best sites that provide Bitcoin cloud mining services, you should first research your desired service on social networks and ask experts in this field. Because investing in cloud mining services and websites, like any other investment, requires time to scrutinize.
During its activity, Minerland Company has shown that it is one of the most reputable Bitcoin cloud mining systems. Minerland is without a doubt the safest and most reliable mining system.
By leasing hashing power to the cryptocurrency mining process, MinerLand offers one of the most profitable bitcoin cloud mining centers to its subscribers. By choosing a plan, each member can see a fundamental change in their financial future.
How to invest in Bitcoin cloud mining?
1. First, the user must register in the registration system. When registering on the platform, the user must type information including their name, mobile number, email, and country. After entering the user panel, the user can select his avatar. Then enter more information to complete your profile.
2. Members can then invest in plans offered in Bitcoin Cloud Mining. Each member can choose one or more plans to subscribe to cloud mining programs and include them in their shopping cart. Each cloud mining company has several payment methods for users. Members can pay with acceptable cryptocurrencies or other Fiat currencies. Most cloud mining companies now accept BTC and Visa Card or Mastercard.
3. At this stage, mining for investors begins. Bitcoin mining profitability calculator starts immediately after members subscribe and invest. Investors can monitor mining performance from the central panel of Bitcoin cloud mining. People who join Minerland and invest in more valuable plans will make a significant difference in their financial future. They can add to their hash power to earn more money and have the best coins to mine in 2021.
4. Finally, it is time to withdraw deposits. When the amount of bitcoin those investors receive from Bitcoin cloud mining reaches the minimum amount required for withdrawal, they can transfer their bitcoin income to their bitcoin wallet.
What are the ways to earn income through Bitcoin cloud mining?
Investors are also advised to reinvest their profits in the Minerland cloud mining company. In this way, their income will increase and they can illuminate their financial future.
As the bitcoin network hash rate improves, it shows that the Chinese government has greatly reduced its strictures on the mining industry. Therefore, it is likely that by the end of 2021, the price of bitcoin will improve and reach above $ 49,000 and more. As China lowers barriers to bitcoin mining, users will be able to enter the bitcoin mining space more easily, making it possible to take advantage of rising and falling markets.
Entering the bitcoin mining industry, investors can receive bitcoin as a mining bonus and do not need to buy it directly from the market. However, with the growth of this industry and the expansion of its field of work, individuals or companies that can provide the cost of electricity and maintenance of the required and expensive hardware for mining operations have set up bitcoin mining farms.
Another option that investors can use to store BTC and other cryptocurrencies, even with low capital, is to get more bitcoins by buying Bitcoin cloud mining contracts.
What are Bitcoin cloud mining contracts?
From the earliest days of Bitcoin, the cloud mining industry began to grow. Because users who were interested in bitcoin mining but did not have a place to start mining devices, or could not provide hardware mining equipment, or could not provide the power needed for the equipment, they came to Bitcoin cloud mining platforms.
Famous companies that were among the first companies to present cloud mining services include Genesis Mining and HashNest. Of course, the demand for users to partner with these companies and use their services has increased so much that it is beyond their ability. Even all their bitcoin cloud mining contracts have been purchased by users.
Minerland is a Georgia-based company that has been operating for several years and is connected to data centers in various locations.
Through the services provided by Minerland, users can rent mining equipment and pay for the equipment without having to go through the hard work of mining, while the mining company has tasks such as providing a physical location and providing the machine. Also, it is responsible for operations and maintenance.
Users can also purchase hash power by purchasing the contracts of Minerland. Once the contracts have been purchased, the proceeds from Bitcoin Cloud Mining will be credited to the Bitcoin wallets of the subscribers. The wallet has been specified by the users themselves. Users can withdraw these bitcoins or re-invest in mining by buying another contract to make more profit and secure their financial future. Of course, keep in mind that all Bitcoin cloud mining corporations warn their members about the dangers that may arise in providing cloud mining services. Some of them may not guarantee any level of profit.
Various conditions can occur that cause these risks. These conditions include:
Electricity power price fluctuations,
Increases or decreases of the price of Bitcoin,
Promoting mining technology that increases the difficulty of the mining network,
Old equipment will lose its capability.
What plans can investors in Minerland use in 2021?
Minerland has 4 different plans with different amounts of investment at the cloud miner center, which are:
· Soldier Minerland Plan: Members of this platform must pay $ 15.99 to participate in the Soldier Plan. The user can pay 50 points earned from different designs instead of buying this design. Investors who have purchased this plan can receive 150 Satoshi as a daily profit and 1 point. If an acquaintance introduced to Minerland buys this plan, they can earn 5 points. Of course, they can share in the mining of currencies generated by SHA-256 algorithms.
· Major Minerland Plan: Investors of this platform must pay $ 49.99 to participate in the Major Plan. The previous fee that the user had to pay was $ 69.99. The user can pay 200 points earned from different designs instead of buying this design. Investors who have purchased this plan can receive 700 Satoshi as a daily profit and 5 points. If an acquaintance introduced to Minerland buys this plan, they can earn 20 points. Of course, they can share in the mining of currencies generated by SHA-256 / Ethash algorithms.
· Captain Minerland Plan: The user must pay $ 444.9 or have 2000 points to participate in the Captain plan. They receive 6250 Satoshi Daily Profit and get 60 points. The affiliate person to the user of Minerland gets 200 points. The previous fee that the user had to pay was $ 599. 9. They can participate in mining currencies mined by SHA-256, Scrypt, and Ethash algorithms.
· Lord Minerland Plan: Members of this platform must pay $ 1999 to participate in the Lord Plan. The previous fee that the user had to pay was $ 2499. The user can pay 8000 points earned from different designs instead of buying this design. Investors who have purchased this plan can receive 28000 Satoshi as a daily profit and 280 points. If an acquaintance introduced to Minerland buys this plan, they can earn 800 points. Of course, they can share in the mining of currencies generated by SHA-256 / Ethash / Scrypt algorithms.
Minerland members can earn more by participating in projects. This is possible if they use the following methods:
All Minerland contracts are for one year, but if users buy into any of the plans and invest in longer periods, they can earn more profit and points.
Minerland members can purchase any of the plans offered by the company. They can even have two or more designs at the same time. In this case, a person’s income is the sum of the income that a person will have from all programs.
Investors can use the profits they have earned again to buy Mainland projects, in which case they can make more profit.
For more information on the various Minerland apps, interested users can visit Miner-
Africa is a resource-rich continent and as of 2019, there were about 1.3 billion people living in 54 countries in Africa. But the last few decades have been financially challenging for people living there because of the economic crises and many more problems existing from the root level.
It was predicted that Africa would recover from its worst economic downturn in 2021. However, due to an unprecedented global pandemic caused by COVID-19, economic activity in Africa was disrupted again in 2020.
The condition of traditional financial institutions in Africa has experienced a serious nose dive in recent times and the economy is slowly dying. People are in search of a better value system and digital currencies are godsent.
One of the recent digital currency reports used “Africa is one of, if not the most promising region for the adoption of cryptocurrencies.” as the introduction line. The report, titled ‘The State of Crypto: Africa’, looks at the vast potential of the sector, while also acknowledging the obstacles that lie ahead.
The Report also stated that “Africa has shown early signs that it is ready to adopt digital currencies”. A recent survey report also showed that South Africa ranks third globally, with 13% of internet users holding digital currency. Nigeria stands at 11%, well above the global average of 7%.
Lack of Proper Banking System and High Charges
This major interest in Africa stems from several factors. One is the high inflation rate in most African countries, which has prompted citizens to look for better alternatives to their traditional or fiat currencies. And while the peak in Zimbabwe gets all the attention, other more stable economies haven’t done well either. For example, the South African rand has lost 50% of its value against the US dollar over the past decade.
Africa is also completely under-banked. A World Bank survey showed that the availability of banking services in Sub-Saharan Africa is 61% lower than the global average.
People in Africa can reach banks, but the fees are incredibly high. And while remittances from overseas are expensive, payments between African countries are even higher, accounting for more than 18% of the average transaction value.
The Big Relief
Digital currencies provide Africans with a big relief from many of these challenges. Already, services that enable money transfers across borders using digital currencies are becoming extremely popular.
One of such platforms has processed over $500 million in cross-border transfers via digital currencies. While another has also attracted prime interest, with lower fees and faster transaction times using Bitcoin SV.
There are still several challenges
However, the report acknowledges that there are several challenges. The infrastructure to support the use of a digital currency is lacking. Only a handful of exchanges serve Africa’s 1.3 billion people. To overcome this, Africans rely on some of the P2P platforms, such as Paxful and LocalBitcoins.
There is a small group of merchants that accept digital currency payments in Africa. Additionally, the number of digital currency ATMs is also quite lower.
The rate of technology adoption is even lower, with less than 0.3% of nodes in Africa for popular digital currencies. Africa’s contribution to digital currency mining is also almost non-existent.
Low internet and smartphone access are other challenges, as is competition from mobile service providers such as Kenya’s M-Pesa. Regulators haven’t made it easy, with some, such as Morocco and Algeria, banning digital currencies altogether.
The report concluded by saying, “This underdevelopment presents a huge opportunity for projects and companies to build the necessary infrastructure and adopt go-to-market strategies similar to the projects discussed in this report. We are already seeing a lot of development related to cryptocurrency in Africa and expect this development to accelerate in the coming years.”
The Hope: POICoin
POICoin is a project focused on solving most of these problems. It is Africa’s first coin in value exchange and empowerment; It is a revolutionary cryptocurrency developed in Africa and aims to revive Africa’s dying economy by putting blockchain technology in every mobile phone and by becoming Africa’s first coin in value exchange and empowerment.
It will provide a blockchain environment with a value system that allows the economy to bring current blockchain compliant individuals/businesses and new or non-blockchain users together through diverse systemic DApps. The same blockchain technology powers these DApps. These advanced DApps will serve as real-time practical solutions to real-life problems in Africa and beyond.
POICoin is a decentralized, blockchain-based digital currency built with the ERC20 standard for smart contracts. This will speed up transactions and help you save by eliminating intermediates. POICoin on one side is providing solutions to existing problems and on the other side providing better ways with more profit and advancement.
POICoin is solving the existing problems which includes:
Unavailability of everyday products and services on a blockchain platform.
Inability to do business globally using the preferred method of payment.
Complex and slow platform which makes it difficult for people to use the platform efficiently without rigorous training.
The middleman between producers/e-commerce and consumers/users makes payment processing more difficult and very costly.
Non-availability of a secure payment system that allows merchants to accept digital currency.
Inability to safely and easily convert digital currencies such as bitcoin and ether into local currencies
So the needs and internal problems of Africans are driving it to adopt digital currency. But digital or cryptocurrency based projects like POICoin and several new ones are the genuine hope for Africans. They are not only making things easy for the people but also helping them with a better value system.
Meanwhile, the first phase of PoiCoin ICO Pre-sale ended on 13th June, however, you can still take advantage of the second phase which will start from June 20, 2021. 23:59 UTC and will end on July 4, 2021 23:59 UTC. In this pre-sale a total of 20,000,000 POI tokens will be available for buying at $0.15/POI. So, don’t miss this opportunity and invest in PoiCoin to build a better economic future for Africans. Visit Poicoin.net today.
Globalization has influenced trading, tourism, migration and overseas education to bring universal payment to a new level. As global browsers have increased, cross-border e-commerce has made its inception. But for the payments, remittances, purchases, more precisely, money exchange throughout the borders is the key. It has initiated cross-border payments to exchange funds in different countries.
Cross-border payments enable fund transactions in different regional locations and issues discretely registered customer cards. For international transactions, merchants must deal with diverse scenarios due to the rules set by the countries. Therefore, the demand for cross-border payments is uprising with an estimated revenue reach of $1.9 billion in 2020. But research has shown that the management practice has a lack of efficacy in terms of cost and time. Even though e-transaction has been increased by 40% that gives a spike to the digital remittance, the conflict in regulation slows the processing system.
Overall, cross-border payments may have some serious effect on condensed yield, enlarged toil, affluent expenses, and stalled supplier relationships. Adopting cryptocurrency can improve the situation. Global finance can be challenging for remittances and cross-border transactions for technological and sometimes political reasons. Cross-border makes the payment procedure easy but with cryptocurrency, it can be easier and less time-consuming.
“Trading and speculation were the first major use cases to take off in cryptocurrency, just like people rushed to buy domain names in the early days of the internet. But we’re now seeing cryptocurrency evolve into something much more important,” said Coinbase CEO Brian Armstrong in a letter included in the company’s filing documents prior to its public listing.
Blockchain Leverages Cross-Border Payment
Nowadays, cross-border payments are on the verge of transformation where the transaction process will be contended as sending an email. Blockchain technology and digital assets like Psyche have already started the voyage to shelter a laminar cross-border payment experience. It is connected with the global financial infrastructure to make the system work with more efficiency by increasing affordability, easy accessibility, and high interoperability. Cryptocurrency is being used for distinct types of payments and international companies; the number is growing to facilitate the procedure.
According to a research of the World Bank, in 2019, around $716 Billion P2P payments has been released in which cross-border payment method has been the most disruptive one beset with unruly processing time, excessive fees, and lack of transparency. Conversely, the transactions through cryptocurrency blockchain eliminate bank interference, reduce costs and boost payment processing. The system is invincible that enhances peer-to-peer payments qualifying identity verification. It doesn’t matter which part of the world you live in; the entire systems and form of values will still interoperate and sew up the deal with time efficiency.
Cryptocurrency is Valuable for Remittance Transfer
Remittance is like making transactions in overseas countries where the senders are immigrants and recipients are living in the home country. On average, there were 6.51% of cross-border remittance transactions in 2020. For the startups and other challengers, the number is increasing. In most cases, it is done through banks and the processing is time-consuming but doing it with cryptocurrency holds the signs of interest and space is rising. It is a financial solution incorporating blockchain technology to expand the remittance economy.
Cryptocurrency follows the modern infrastructure and the remittances never count on unified authorities like payment systems, foreign exchange, or banks. It removes multiple intermediaries in cross-border money transfer, and no one has to wait to receive money for like five days, unlike the conventional system. The transaction fees are half from the domestic fund transfers that sometimes increase due to the mediators.
Transparency remains intact because every transaction happens between senders and receivers using a mobile wallet and the blockchain network is the only intermediary. The P2P distributed ledger is the basis to ease international money transfer with speed and low cost.
Distinguishing the distinction between blockchain technology and its application includes potential cryptocurrencies and stablecoins bids for making cross-border payment resourceful.
Psyche Brings the Future of Crypto Cross-Border Payments
Denelle Dixon tweeted once, “Blockchain technology can be leveraged to benefit consumers without sacrificing oversight, accountability or regulation.” It stores client information to simplify the regulatory requirement to retrieve and access whenever needed. The monopolistic market of digital assets has been backed by high-net-worth entities and crypto fanatics.
Psyche Coin is the easiest one that comes with easy, a fast transaction period as well as zero transaction fees. Psyche was formulated with a fusion by running the Reflex App and made blockchain a convenient platform for cross-border payment. Through stablecoins, the process becomes simple, easy and prompt. It is paired with a simple formula that intensifies blockchain remittance and makes it stable, universally accessible, and beneficial for merchants. So, the business can expand and approach a new customer base without any payment restrictions, intermediary, or third-party obligation.
“Everybody can have inimitable needs to transfer remittance that shouldn’t be restricted or belated. Therefore, Psyche has been built to emphasize a user-friendly transaction process so that anyone can partake in cross-border payments without any hassle but with top speed and instant action,” said Mr. Hammad Khan.
The sprints of cryptocurrency reside over consistency, which Psyche has improvised carefully with:
Super speed enabling up to 3,000 transactions in a second.
Evolves abundant Master to maintain a high-speed network.
Transports steady pricing for transactions.
Directs P2P transactions and provides an easy transaction method.
Enables user-friendly practice and security during the payment procedure by:
Selecting Psyche Coin as the transition option.
Receiving a QR and a transaction code to scan and insert.
Getting the confirmation of payment completions.
To make remittance transactions more accessible through Psyche Coin, Psyche has initiated a peer-to-peer marketplace, LocalPsyche. It is an open trading platform for merchants to deal directly and qualifies over-the-counter trading for traditional currencies online. Also, condense the cost peril in stablecoin due to price fluctuation. As a traditional P2P marketplace, LP allows vendors to provide numerous payment methods in their region enabling bank transfer, mobile top-up, fiat, online wallet, etc.
Psyche has appeared into the market to revolutionize the blockchain trend and debuted with an outburst of success in the DeFi market. It is backed by an efficient action policy for superior achievement, cogent network flair, higher profit, anonymous payment, and no boundaries of geographical borders. Psyche believes in simplicity and moves forward with better ideology and resilience to make a better platform to be contingent for cross-border payments.
The Libra Ecosystem is a blockchain-based payment system for the e-commerce industry. It aims to provide e-commerce businesses with a convenient, secure and transparent way of accepting payments from their global customers using cryptocurrencies.
One of the problems that the Libra Ecosystem is trying to solve is the lack of transparency in traditional payment systems.
What is the Libra Payment System?
The Libra Ecosystem employs the cryptocurrency-based payment system on the Ethereum blockchain. As we all know, blockchain transactions are highly secure and end-to-end encrypted.
Transactions on a blockchain are first verified by anonymous nodes and then stored in an encrypted, decentralized, immutable ledger for safekeeping.
Transactions, including payments, on the blockchain are publicly accessible, which means it’s easy to verify a cryptocurrency transaction in case of a dispute.
Unlike traditional payments that are governed by centralized authorities like banks that have complete control over payment processing, crypto transactions are free from middlemen and totally controlled by the end-users.
Transactions in the Libra Ecosystem are governed by digital Smart Contracts.
What is a Smart Contract?
A smart contract is a digital application that contains the agreement terms between a buyer and seller written in programming code. In simple words, it’s a digital contract between the buyer and seller, designed to be executed automatically upon the fulfillment of the underlying conditions.
An e-commerce platform that chooses to use the Libra Ecosystem will get to implement smart contracts for all their payments. Once the payment is made by the buyer and confirmed by the system, the product/service will be automatically released to them.
The best benefit, of course, is that no middlemen are required to confirm or process such transactions. This creates transparency, improves security and reduces the cost of transactions.
Traditional Payments Vs Libra Ecosystem
Still wondering how is the Libra Ecosystem better than traditional payments? Here’s how.
Traditional payments like bank transfers, net banking, cards, etc. require a middleman like a bank to process every transaction or payment. So, when a user makes a payment on an e-commerce site using his card or net banking, he has to share his personal details as well as the order information with the middleman, i.e. the bank or the card company.
Basically, the bank and credit card companies have all your data, including what you are buying and where from. They can use this data for marketing and all other purposes. This effectively puts your privacy and security at risk.
Also, transactions using traditional payment methods are not transparent or secure. They are controlled by centralized authorities like banks that are prone to hacking, errors and other issues. Also, the bank can decide to reveal or not reveal transaction information on its own accord.
Cryptocurrency transactions on the Libra Ecosystem are private, secure and completely transparent. There is no middleman who will see or access your transaction details. Even the user information is encrypted and in the code form, so no one can see the actual details. All the transactions on the blockchain are encrypted and highly secure.
Also, the Libra Ecosystem allows e-commerce companies to accept payments in multiple payment modes from their global customer, using digital currencies like ETH.
Staking is probably the best, modern technique to earn a stable passive income without much effort on your part. You can start staking with any amount and receive regular interest on your funds.
Staking is much like bank deposits, where you can stake (lock-up) your funds in the form of cryptocurrencies in a Smart Contract in order to keep the blockchain network secure through transaction validation. In exchange for your funds, you get paid in newly mined cryptocurrencies on a regular (monthly/yearly) basis.
One of the best things about Staking is that you can start with any amount and don’t need a costly setup (like mining) or technical knowledge of the blockchain.
If you’re already intrigued, let me tell you about the top proof of stake (Staking) cryptocurrencies that you can invest in today in order to start earning a stable side income.
Top Proof of Stake Coins for Staking in 2020
Unlike PoW (Proof of Work) that uses mining for validation of transactions in the blockchain, a proof of stake (PoS) system uses staking, which is a more efficient, cost-effective, and profitable validation mechanism.
Here are some of the best PoS Coins you can choose for staking:
In addition, the stake value (share price) is automatically increased by 15% on the third day of the Circulation Epoch, as a one-time event, giving an extra incentive to users who open their stakes on the first or second day.
DASH is one of the most popular PoS cryptocurrencies. Thanks to the fast and private transactions of Dash, it is quickly being adopted by people and businesses globally.
Dash was the coin that made the concept of masternodes famous. Instead of investing huge amounts of money in the mining equipment, it suggested a better, easier and cheaper way of confirming transactions on bitcoin networks using masternodes.
All you have to do is lock up your Dash in the contract and transactions will be automatically validated by the assigned nodes. As a Dash masternode owner, you can also provide services like quick transactions, payments, etc.
Staking in Dash can earn you interest at the rate of 6% per year.
Tron is a high potential blockchain project that was launched by Justin Sun in 2017. It has grown in popularity because of high-end Tron DApps. In 2018, Tron created history by purchasing the world’s most popular and used Torrent software BitTorrent. Also, the company purchased Steemit (blogging and social media platform) in 2020, added another feather to its cap.
Investing in the TRX stake can be a great way to generate a good side-income, as the staking rewards per year with Tron are in the range of 3-4%.
NEO is a relatively newer PoS coin that can give you an interest of up to 2% per year through staking. It may not be much, but it’s still better than traditional investments like bank deposits. Moreover, you get the flexibility to manage or change your stake during the period.
The increasing popularity and significance of the NEO coin make it one of the safest PoS systems for long-term investment. And you never know when the value and returns on your NEO stakes might increase abruptly in the future.
WISE is an ERC-20 token based on the Ethereum blockchain. It employs the proof of stake mechanism for validating transactions in its blockchain. Interested users can stake their tokens in the contract and earn interest over the stake period.
WISE Staking is flexible, as investors are allowed to withdraw their interest at any time during the period of a stake. The cumulative interest rate in the WISE stake is around 5% per year. The interest amount increases linearly based on the stake length, to a maximum of 25% for a 5+ year stake.
VeChain is another suitable proof of stake system for beginners. It does not offer interest as high as most other PoS coins, but the potential is really good. And the coin has been increasing at a steady rate ever since it was launched in 2015.
VeChain aims to bring the entire supply chain on blockchain in order to make the supply process transparent and increase efficiency. In the future, it could allow consumers to track the very origins of the products they use, including their authenticity and cost.
It has already been working with a number of businesses on the same concept. For instance, VeChain’s latest project with BMW called VerifyCar allows users to transparently track their vehicle mileage on the blockchain, thus preventing mileage fraud.
Staking in a Proof of Stake coin is certainly a better and more affordable way to earn than mining cryptocurrencies. At least, you don’t have to buy costly equipment with no promise of returns. Staking gives you guaranteed interest over the staking period along with the possibility to get high returns from your invested tokens/coins.
In order to start with staking, you first need to choose the right coin. You can select from the top PoS coins list above.
If you already have some proof of stake coins, you can create a stake by depositing your coins in the contract. At the time of stake creation, you’ll have to select the stake length (period) and the number of coins/tokens.
If you don’t already have PoS coins, you can buy some from the respective cryptocurrency websites.
Do not wait for your customers to ask when you will start accepting cryptocurrencies.
There are many advantages that your business can gain by adding this payment method.
These people are extremely likely to tell their friends about a new crypto-friendly merchant they found.
Companies should consider accepting cryptocurrencies in order to not only offer new payment methods to existing customers, but also to acquire new clients from the crypto and blockchain ecosystem. This is a real win-win path to increasing revenue that cannot be ignored.
A simple mention – “We accept Bitcoin” – on your website is guaranteed to get noticed by customers who are looking for the opportunities to pay with cryptocurrency, not fiat.
“Since we started accepting Bitcoin as a form of payment three months ago, our sales have jumped whopping 427%,”
Lynx Art Collection team reported last year.
In order to protect people from an additional source of coronavirus infection, the Chinese government decided to disinfect cash with ultraviolet light, and the South Korean authorities quarantined cash and even burned some of the banknotes.
Besides the fact that banknotes have become a kind of old-fashioned payment, most companies have transferred their employees to remote work. Therefore, in self-isolation conditions, consumer habits gradually changed. As a result, most purchases have gone online – the number of global e-commerce transactions increased by 23% after the rise of the pandemic.
Microbes found on circulating currency in New York City during the summer period. Credit: doi.org
Are cryptocurrencies a salvation bay during and after the crisis?
In the context of the COVID-19 pandemic, cash has become one of the threats to human life and health. According to researchers, a total of 397 bacterial species representing more than 20 bacterial phyla live on the surface of banknotes.
Cryptocurrencies are a separate and very promising type of online payment. Therefore, in this document we will emphasize the main aspects of connecting digital currencies to your business.
“Since PARSIQ works as a bridge between cryptocurrency payments and traditional business finance, we noticed a new wave of demand for automation of cryptocurrency-related activity. Therefore, we can assume that businesses consider cryptocurrency a new way to grow profits and gain new customers,,” says Tom Tirman, Co-Founder of PARSIQ.
Cryptocurrencies are gaining popularity as a means for value exchange and as a method of payment for goods and services. In the US, crypto is not considered legal tender. However, it is fungible, as exchanges are considered to be money transmitters, according to the Financial Crimes Enforcement Network (FinCEN).
This enables businesses to legally accept digital currencies as payment. In most jurisdictions, cryptocurrency regulation is enforced when it is exchanged as a security. As a method of payment and in general use, however, such jurisdictions as the European Union,
The rise of cryptocurrency payments
On the coinmap.org portal you can find a world map with indicated locations of all the stores and ATMs accepting cryptocurrency. According to the site at the time of writing, there were 19,369 such venues around the world.
Pic credit: coinmap.org
Mostly require that utilization be under KYC and AML regulations to ensure that cryptocurrencies are not used for illicit or illegal purposes, such as terrorist financing and money laundering.
Having multiple options for cost reduction, crypto wallets, and exchanges enable businesses to have flexibility in terms of accepting B2C or B2B payments using cryptocurrency.
Here are some options that your business can consider in accepting cryptocurrency payments:
How to start accepting cryptocurrency payments
The most straightforward and simplest means to accept crypto payments would be through a payment processor. This partner will basically accept the payment in cryptocurrency and then remit into your business account in fiat currency or other preferred means. Some examples are Dash, BitPay and Coinbase Commerce.
The most direct means to accept crypto payments would be the peer-to-peer option, wherein you provide your payment address. This will require that you establish a wallet account available on mobile and desktop apps, or even as a physical device.
You can then utilize exchange services to convert your crypto into fiat or even into other cryptocurrencies. Some wallets have convenient built-in exchange functionality so that businesses can quickly convert from one crypto to another, or even to fiat, with minimal hassle.
Another option for accepting cryptocurrency payment is through a PoS solution that accepts digital currencies. As with payment processors, this will also entail the service provider remitting the funds through fiat or other preferred means after the transaction goes through.
Regulations, compliance, and establishing trust in the crypto ecosystem
As earlier mentioned, most jurisdictions require compliance with KYC and AML regulations, which means businesses will also need to provide such information when establishing accounts for receiving crypto payments.
Transparency in transactions is one way to ensure compliance with such regulations.
This also enhances trust between the parties involved. Instant notifications provided by PARSIQ’s Smart-Triggers, for example, gives both merchants and customers the assurance of transactions as they are confirmed on the blockchain.
There is no need to manually monitor the progress of such transactions. The platform automates this crypto monitoring, analytics, and notification platform so that your business can focus on what matters–building value for your customers and industry.
Cryptocurrency payments provide unique advantages over traditional digital payment solutions. Businesses can start accepting crypto payments to save time and reduce transaction fees while staying compliant.
Pros tips for accepting crypto payments:
Automate your business needs–save hours or manual work using customizable notification services. In just a few clicks, you can specify how and where to accept crypto payments from your customers. No need to manually accept payments each time.
Pic credit: parsiq.net
Existing digital payment options, most notably credit cards, can charge fees up to 3%. This can add up to exorbitant costs for businesses over time. Instead, crypto payments can drastically lower transaction costs, as seen in the case of a cryptocurrency exchange who transacted US$1.26 billion worth of Bitcoin for just US $124.60, or less than 0.00001% of the payment volume. Businesses can automate the processing of payment deposits at scale to save cost over time.
Keep up to date with the latest AML and KYC regulations by making sure you have right compliance measures in place for accepting crypto payments.
Using transaction monitoring services, businesses can monitor payment transactions at scale to collect and analyze important regulatory information.
Know if incoming payments originate from blacklisted or high-risk addresses, so that your business can take appropriate action in real-time.
PARSIQ monitoring enables businesses to set up alerts according to amount thresholds, such as limiting the maximum payment accepted per transaction. When thresholds are triggered, the service notifies you through your connected application with the transaction details, so that you can quickly react with proper compliance measures.
Digital payments have proven to be a necessity in today’s economic climate. According to the World Economic Forum, central banks around the world are recognizing the viability of digital currency as an alternative to cash, since it reduces physical contact and thus the possibility of spreading the coronavirus.
The global pandemic has led many businesses to close down physical operations and shift toward digital commerce and payments instead. Accepting crypto payments can accelerate your business’ digital transformation, and it will enable businesses of all sizes to quickly recover and even thrive during and after the economic uncertainty resulting from COVID-19.
PARSIQ is a blockchain monitoring and workflow automation platform that serves as a multi-level bridge between blockchains and off-chain applications.
PARSIQ’s features automate the blockchain analytics and monitoring process, providing customizable workflows with real-time intelligence. People behind PARSIQ are experienced and highly qualified industry professionals that are passionate about blockchain technology. Our ultimate goal is to push forward the mass adoption of blockchain technology by providing the necessary solutions. We want to give everyone the ability to understand and manipulate blockchain data streams.
With PARSIQ, we are making it easier to integrate blockchain infrastructures into existing businesses with an additional layer of monitoring and automation for blockchain-specific asset management. Details on solutions provided by PARSIQ can be found here.
Artificial Intelligence (AI) is the process of enabling machines to think and act like humans by integrating human intelligence in machines. It also involves the study of benefits & applications of machine intelligence in the real world.
Many experts believe that AI could effectively disrupt the crypto trading industry by providing traders with actionable data based on a thorough and automated analysis of the historical trading records. These data can help closely predict the outcomes of future trade events.
Cryptocurrency trading is now a fully-fledged activity, followed by thousands, if not millions, of traders worldwide. All these traders are constantly looking for ways to improve their trading abilities and acquire better resources in order to increase the profits from crypto trading.
If you are one of these traders and wondering whether and how AI can revolutionize the crypto trading industry, this article is all you need right now.
AI for Crypto Trading
For almost a decade now, organisations have been experimenting with the use of AI for crypto and digital trading.
AI, when integrated into traditional trading systems, can effectively automate the tasks such as data management, reporting and analysis. It can also use past data and trends to predict future trading trends and even results.
AI in integration with machine learning can even be programmed to learn new things from the available data and adapt itself to modern trends. This is particularly useful in data-driven industries like asset trading.
Artificial Intelligence learns new things based on data with the help of neural networks. Neural Networks are like connections within an AI-based system that enable the system to learn to perform a task by seeing/following an existing example. This removes the need to program the system and enables it to adapt to dynamic situations.
Neural Network is a term inspired by the neural networks in the human brain to suggest that these artificial networks work more or less the same way. Just like the human brain that can learn new things or tasks by seeing, neural networks in AI can also learn to perform a new task based on the information/data fed to them.
In the crypto trading space, neural networks can theoretically enable AI to develop & implement its own trading strategies by reading & analysing the available data to drive even more successful trade results.
How or Why is AI Crypto Trading is better than Human-based Crypto Trading?
In any kind of trading, automated bots or AI has an obvious edge over humans.
Humans take trading decisions based on emotions. Such decisions may be impulsive and taken in haste. On the other hand, AI makes trading decisions through proper calculation and in an automated manner.
Human-based trading works on a fixed schedule, and not round the clock. The crypto trading market using AI, on the other hand, can be open 24/7, which is certainly a more profitable option.
Since AI takes decisions automatically and based on data, it’s much faster than humans, who may tend to overthink things rather than acting on time.
Traditionally, the use of computers in trading has been limited. It’s because we always believe that nothing can replace human intelligence and emotions in a trading decision. And most of the time, we are even true. But who says that AI cannot make it better.
One of the reasons why human-based trading has always been able to give only limited profits is our very basic nature of making errors and also the humans’ need to sleep. Because we are driven by our emotions and have limited attention span, many times our decisions do not bring the results we want. And as I said above, humans, unlike machines or AI, cannot work 24/7 and need to sleep.
AI, on the other hand, can handle everything automatically, has zero probability of errors, does not need sleep and can even learn to grow itself. So, it’s obviously a better trading mechanism compared to humans.
Now, many people confuse AI trading with bot (robot) based trading. But, these are two different things. Let’s see how.
AI Crypto Trading Vs Bot Crypto Trading
Bots are software programs that can be designed to do specific things. In the crypto trading industry, bots are used to automatically process trades based on the available data or trends.
Bots are only capable of automating a process based on the underlying instructions or program, but they do not have their own thinking capability and cannot adapt themselves to dynamic or changing market conditions.
AI, on the other hand, can automate a task as well as adapt itself based on the changing trends to achieve better results. Basically, it is designed to learn and adapt.
Since bots have limited learning capabilities, they are inferior to artificial intelligence and/or machine learning when it comes to learning & adapting themselves based on market trends.
Real Examples of Crypto Trading Platforms Using AI
If you are wondering where you can see the real example/s of a crypto trading platform that uses artificial intelligence to analyse and improve the end results, check out the Cowrium project.
Cowrium is a blockchain platform that consists of multiple projects or solutions based on real-world problems. For instance, they are building a system called the Cowrie Stability AI, which uses artificial intelligence neural networks to predict the market and suggest a solution based on the analysis of the previous trading data.
The idea is to enable traders to come up with a foreseeable solution through the deep analysis of available data. Thanks to the integration of ML and Neural Networks, the system can also adapt itself to suggest better solutions based on the market trends.
The Cowrie Stability AI system is still in the testing phase, and the real market scope and usability will only be known after the official launch (probably later this year).
There are a number of other companies that are experimenting with the use of AI and machine learning in crypto trading. The best examples include RoninAI (An AI-driven trading platform that delivers trading signals based on analysis of market trends), AiTrader.Ai, and AutoNIO.
But, as I said, most of these projects are under development or testing, and more about the actual impacts of AI on crypto trading will only be known in the coming future. Till then, let’s keep trading with the available tools and options.
Many people heard about bitcoin and its numerous advantages compared to traditional currency. However, what if it can bring even more benefits? Check out the article to find out!
Back when Satoshi Nakamoto started working on bitcoin, one of the challenges in designing the cryptocurrency came from choosing the signature scheme. Satoshi wanted a widely-used, understood, lightweight, and secure algorithm. Another important requirement was being available as open-source, so he went for the ECDSA — Elliptic Curve Digital Signature Algorithm. It was more or less a set of encryption tools designed to improve the privacy of online communications. The ECDSA was also very secure, providing bitcoin money with safety without making the entire algorithm too big.
Ever since bitcoin was launched, the Elliptic Curve used for the cryptocurrency was improved, and we enjoy better bitcoin privacy and smoother bitcoin transaction speed. However, some new technologies emerged that might make the ECDSA obsolete, no matter how much we work to improve it. You guessed it, the new signature to increase efficiency, privacy, and transparency of bitcoin transactions is the Schnorr Digital Signature. So, no matter if you’re just using it to deposit at your favorite casino ohne einzahlung or you want to learn more about how bitcoin can be improved and what are the implications of this process, this article is for you.
More About the Schnorr Signature and Bitcoin
We’ve already presented the Schnorr signature as an improvement of the currently-used ECDSA algorithm for bitcoin technology. However, this signature scheme is not exactly what you can call “new.” Actually, it was developed in the 1980s by Claus-Peter Schnorr and a team of professors at the University of Frankfurt. Heavily defended with patents, the Schnorr signature couldn’t be used until 2008. Interestingly enough, this is also the year bitcoin was launched. However, it could be that Satoshi Nakamoto didn’t choose to use Schnorr from the beginning because it hadn’t been that widely used or popular to cryptographers.
Advantages of Using Schnorr in Bitcoin
This isn’t the first time of the Schnorr signature being utilized in bitcoin technology. The first idea appeared in 2014 when Pieter Wuille came up with the Schnorr BIP. The main benefits of implementing Schnorr in bitcoin cover and are not limited to:
Security Proof – Schnorr signatures will bring better security for bitcoin since their safety is provable with ease when a random oracle model is used, and the signature is sufficiently strong. The current ECDSA algorithm can’t utilize this system of proving security.
Better Non-Malleability – Even though ECDSA was improved a lot over time, these signatures are designed to be malleable. Sure, it takes a lot of resources and knowledge to alter an existing algorithm to be able to spend the same funds twice. However, why live with such a risk when you can remove this vulnerability altogether and make signatures non-malleable by using Schnorr ones?
Linearity – since Schnorr signatures enable multiple parties to collaborate and produce a single signature that remains valid for the sum of the public keys created in the process, it can allow higher-level constructions for bitcoin and Blockchain. Imagine a bitcoin option, such as smart contracts or multi-signatures, and the benefits they could bring for the cryptocurrency and its users.
On top of these proven benefits, other possible improvements can come out. For example, the added computational power can mean faster block validation. Also, being able to aggregate multiple keys opens up an entirely new horizon for making bitcoin support even better.
It is clear that Schnorr signatures have the potential to significantly improve a bitcoin contract and the way the cryptocurrency can be used in our everyday lives. We’re curious to find out how many of our readers are open to a possible upgrade of bitcoin through Schnorr signatures. Feel free to use the comments section to share your point of view. The more we discuss it, the better we can understand all the implications of such transformations.
The ability of AI and machine learning to revolutionize the way we trade has always been a matter of research. But now as we have entered the crypto era and started trading digital currencies, the significance of AI in trading is more than ever.
Amongst the projects and experiments being run worldwide
regarding the applications of AI in crypto trading, some have proven to be very
revealing about the ways AI can help improve the overall trading industry,
especially the way crypto trading works.
If experts are to be believed, AI can bring a number of
advantages to crypto trading, including the deeper analysis of historical data,
use of advanced algorithms for making predictions based on research, studying
the market for changes, among other things.
Besides these, here are some other major ways in which AI is disrupting the future of cryptocurrency trading.
algorithms for trading
The use of computers in the trading market is not new.
However, in the past couple of years, the percentage of trading through
computer algorithms has drastically increased to more than 50%.
This is even more common in the trading of cryptocurrencies,
as everything else is digital, so no one wants to trade manually any longer.
It is obvious that trading through AI-based, smart
algorithms is faster and more efficient compared to human-based trading and
results in fast-decision making, which is crucial for the cryptocurrency
2. AI for analysing
data and making predictions
The use of advanced technologies such as artificial
intelligence and machine learning for analysing the market data, past trends
and trades and providing actionable insights for future predictions is now more
common than ever.
Projects like Cowrium (Stability AI) are doing amazing
things in this area by providing traders with easy and actionable investment
advice based on the study and analysis of historical market data, trends, etc.
for fast decision making.
3. AI for filtering
through zettabytes of data
The amount of digital data is now in zettabytes, which means
we have more digital data than we can ever store or use or parse through by
AI is probably the only technology available to humans that
can not only filter through these vast amounts of data but also help us
understand and make use of it in a way that makes sense. If not for AI, it
would have been too complex to understand this data, let alone make any useful
financial/trading decisions based on it.
4. Improved fund
There are a number of trading markets, including some crypto
trading platforms, that are already using AI and machine learning for help with
the overall decision-making process.
Research reveals that AI hedge funds deliver
better performance over a period as compared to traditional and manual funds.
There are a number of businesses that are making use of AI
in the hedge fund market for analysing the trends and providing better insights
for decision making. While some of these fund managers are only using partial
features of AI, others have gone full-AI for trading as well risk-management in
5. AI Neural Networks
for analyzing marketing efficiency
According to a study that involved the use of Artificial
Neural Networks for analysing the performance of various markets and
identifying those with weak performance, the use of AI in the investment
strategy can drastically improve the efficiency and results.
The said study involved testing of the applications of
neural networks for analysing the historical market data and predicting the
future returns and rates based on the findings. The study was immensely
successful, as the use of neural networks helped generate predictions for the
future year based on the data of the previous some years. And the produced
results were even better than the average results of buy-and-hold portfolios.
6. Identifying market
For some years now, AI and machine learning are being used
by organizations worldwide for studying market irregularities and changes such
as acquisitions that are yet to happen and other things that may somehow
manipulate the market.
A reputable asset management company reportedly used
sophisticated genetic machine-learning systems based on AI to predict a number
of acquisitions before they were even published, thus making significantly
higher returns. AI algorithms reportedly tracked insider trading signals that
enabled them to predict these acquisitions.
By being able to identify irregularities, crypto fund
managers all around the world can better estimate market manipulations such as
upcoming acquisitions and adjust their portfolios accordingly. Projects like RoninAi are successfully using AI algorithms
to predict cryptocurrency market manipulations based on changes in social
7. Prone to financial
Multiple studies suggested that artificial intelligence
algorithms are able to assist with profitable investment decision-making not
just in normal times but also they perform well at times of financial
The organization that was a part of this study managed to
make significant profits with the use of AI algorithms, of which most profits
were made during the times of financial trouble. This indicates that neural
networks are able to provide significant insights even when the market is not
doing so well.
Even though the study was performed in standard cases on
traditional funds, the same results are expected for digital currencies and
funds as well. The use of AI neural networks can significantly assist the whole
decision-making process in crypto trading and investment.
As we are moving ahead in a world that is largely dominated
by competition and increasing demand for resources, understanding and making
use of advanced technologies like blockchain and AI can immensely help with our
goals of a better, richer world.
AI is a machine intelligence technology that can develop its
own intelligence based on the data and information that is fed to it. This type
of intelligence can be widely used in not just the finance world but in a range
of industries, including crypto trading, for being able to make profitable
market predictions and decisions based on actionable insights generated through
in-depth study and analysis of the past trends.