• Top Ten Cryptocurrency Frauds of 2023



    The number of scams in the crypto industry that are reported on an annual basis is enormous. Regulators often claim that cryptocurrency frauds are foreseeable, but one should proceed cautiously before trading. Scams potentially flourish the cryptocurrency market for a number of reasons. Due to the scenario with fiat currencies, there are neither banks nor centralized agencies to flag suspect transactions and work to prevent fraud before it occurs. Cryptocurrency transactions are irreversible; if cash is lost, it cannot be recovered, even if the user reports transaction fraud. Considering how scams evolve over time, we’ve compiled ten cryptocurrency frauds that are most probably going to be prevalent in 2023. cryptocurrency frauds of 2023 to deliberate.To get more news about https://www.wikibit.com/en/ WikiBit App, you can visit wikifx.com official website.

    Fake or anonymous identities- A key concern with the blockchain’s extensive use is the absence of KYC processes, this is the top cryptocurrency fraud concern among many others. Numerous No-KYC markets let cryptocurrency users transact anonymously without disclosing any information that may be used to identify them. Scammers use this to their advantage and commit fraud.
    Phishing scams: To obtain personal information, like the user’s cryptocurrency wallet important information, phishing scams write emails with suspicious sites. When victims accidentally open the link Scammers can access victims’ cryptocurrency for an indefinite period of time if they gather enough data.
    Investments scam: Scams involving investments frequently start over social media and promise endless opportunities. Cryptocurrencies might be used as offered investments or financing options in this scam. Invested cryptocurrency immediately enters the scammer’s wallet.
    Scams using business identities: In a plot to impersonate a company, the offenders pose as a reputable online source, like Amazon, eBay, or a client bank, and convince individuals to send them money by purchasing cryptocurrency. The cryptocurrency that scammers sell is frequently fake.
    Sentimental scam: A infatuation poachers on emotions and may involve financial investment. Once the culprit has the user’s confidence, they seem to be wealthy and smart and casually provide investment advice to further their scheme. Once a bond is made, the victim is urged to send the fraudster cryptocurrencies.
    Ponzi scam: Cryptocurrency-based Ponzi schemes operate similarly to conventional payment systems. Fraudsters cannot provide real investment opportunities; instead, they raise cash from new investors to pay back existing investors, leaving investors back.
    Rug-pull fraud- In rug-pull frauds, fraudsters boost a new business, nonfungible token (NFT), or token to attract investors. The fraudsters suddenly vanish with the money after obtaining it. These investments’ software forbids anyone from selling bitcoin after buying it, leaving them with a worthless investment.
    Attack by a man-in-the-middle- Scammers are able to access bitcoin users’ personal information when they log in from a public place. Any data exchanged over a public site, including credentials, cryptocurrency wallet details, and banking information, is susceptible to theft by scammers.
    SIM fraud: SIM exchange fraud happens whenever anyone acquires a duplicate Sim for the phone in order to see the data on the phone. Scammers can access money and account data by stealing the multiple authentication code needed to open a user’s crypto account using the user’s data.
    Employment offers- Scammers will also pose as employers and job searchers to gain access to cryptocurrency accounts. By using this trick, they present a compelling job while demanding cryptocurrency in exchange for workplace training.
    Top Ten Cryptocurrency Frauds of 2023 The number of scams in the crypto industry that are reported on an annual basis is enormous. Regulators often claim that cryptocurrency frauds are foreseeable, but one should proceed cautiously before trading. Scams potentially flourish the cryptocurrency market for a number of reasons. Due to the scenario with fiat currencies, there are neither banks nor centralized agencies to flag suspect transactions and work to prevent fraud before it occurs. Cryptocurrency transactions are irreversible; if cash is lost, it cannot be recovered, even if the user reports transaction fraud. Considering how scams evolve over time, we’ve compiled ten cryptocurrency frauds that are most probably going to be prevalent in 2023. cryptocurrency frauds of 2023 to deliberate.To get more news about https://www.wikibit.com/en/ WikiBit App, you can visit wikifx.com official website. Fake or anonymous identities- A key concern with the blockchain’s extensive use is the absence of KYC processes, this is the top cryptocurrency fraud concern among many others. Numerous No-KYC markets let cryptocurrency users transact anonymously without disclosing any information that may be used to identify them. Scammers use this to their advantage and commit fraud. Phishing scams: To obtain personal information, like the user’s cryptocurrency wallet important information, phishing scams write emails with suspicious sites. When victims accidentally open the link Scammers can access victims’ cryptocurrency for an indefinite period of time if they gather enough data. Investments scam: Scams involving investments frequently start over social media and promise endless opportunities. Cryptocurrencies might be used as offered investments or financing options in this scam. Invested cryptocurrency immediately enters the scammer’s wallet. Scams using business identities: In a plot to impersonate a company, the offenders pose as a reputable online source, like Amazon, eBay, or a client bank, and convince individuals to send them money by purchasing cryptocurrency. The cryptocurrency that scammers sell is frequently fake. Sentimental scam: A infatuation poachers on emotions and may involve financial investment. Once the culprit has the user’s confidence, they seem to be wealthy and smart and casually provide investment advice to further their scheme. Once a bond is made, the victim is urged to send the fraudster cryptocurrencies. Ponzi scam: Cryptocurrency-based Ponzi schemes operate similarly to conventional payment systems. Fraudsters cannot provide real investment opportunities; instead, they raise cash from new investors to pay back existing investors, leaving investors back. Rug-pull fraud- In rug-pull frauds, fraudsters boost a new business, nonfungible token (NFT), or token to attract investors. The fraudsters suddenly vanish with the money after obtaining it. These investments’ software forbids anyone from selling bitcoin after buying it, leaving them with a worthless investment. Attack by a man-in-the-middle- Scammers are able to access bitcoin users’ personal information when they log in from a public place. Any data exchanged over a public site, including credentials, cryptocurrency wallet details, and banking information, is susceptible to theft by scammers. SIM fraud: SIM exchange fraud happens whenever anyone acquires a duplicate Sim for the phone in order to see the data on the phone. Scammers can access money and account data by stealing the multiple authentication code needed to open a user’s crypto account using the user’s data. Employment offers- Scammers will also pose as employers and job searchers to gain access to cryptocurrency accounts. By using this trick, they present a compelling job while demanding cryptocurrency in exchange for workplace training.
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  • What We Need To Scale Blockchain Technology Into the Future



    Scalability is a major roadblock on the path toward bringing blockchains to mainstream audiences. The ultimate goal of providing low-cost access to blockchain-based applications while guaranteeingsecurity and decentralization is based on the blockchain trilemma. To get more news about https://www.wikibit.com/en/education/new/1.html blockchain knowledge<, you can visit wikifx.com official website.

    The blockchain trilemma is premised on the idea that we can only achieve two of the following three aims: decentralization, security, and/or scalability. This has led to countless blockchains sacrificing decentralization or security to achieve scalability, an undesirable tradeoff to say the least.

    Despite this challenge, the blockchain industry has seen remarkable growth in its first decade, with a $1 trillion valuation and over 420 million users. The next few years could bring even greater milestones, with the number of crypto users on track to breach the one billion mark within six years.

    The industry’s future undoubtedly lies in building high-performance scalable blockchains, and the need for such solutions has never been as pressing as now. This piece dives deeper into crypto’s scaling problem and how it affects users and developers.

    Crypto’s scaling problem
    The cryptocurrency ecosystem faces severe limitations and bottlenecks impeding adoption. The most largely-used blockchains routinely suffer from high transaction fees, congestion, and downtimes during peak periods. And of course, these limitations remain even for projects that sacrifice a degree of decentralization to prioritize speed and low network fees.

    Crypto’s scaling problem is further evident in the fragmentation of developers and users on different blockchains. DefiLlama shows there are 170 chains with thousands of additional decentralized applications (dApps) for multiple use cases. The current multi-chain approach results in fragmented liquidity and increased security risks as users bridge assets across chains. It poses an even greater challenge for developers who must jump through hoops to build dApps on different chains.

    Developers must adopt a common standard for blockchain technology to truly go mainstream. The current approach to development is widely fragmented with vastly different approaches being adopted. Most unfortunately, this fragmented approach trickles down to the end user and results in widely different onboarding and adoption processes.

    Building a scalable Web3 with Ethereum as a backbone
    Ethereum’s position as the leading public blockchain in terms of development makes it the ideal foundation for building scalable networks. This article will map out a future where Ethereum is the backbone of Web3 and will provide the necessary tooling for developers to onboard the first billion users to the blockchain industry.

    It is easy to envision such a future given the wide adoption of Solidity, Ethereum’s native programming language. Solidity is the preferred language for blockchain developers because it is easy to learn and unlocks access to the largest community of Web3 users.

    Solidity complements the Ethereum Virtual Machine (EVM) and provides excellent tooling for building truly decentralized applications with reduced development time and increased interoperability. The number of Ethereum developers has risen by over 400% in the past year to 5,000, which is more than two times higher than competing smart contract blockchains. Ethereum also boasts the industry’s largest DeFi ecosystem, with a significant portion of non-ETH-based TVL still attributed to EVM-compatible networks.
    What We Need To Scale Blockchain Technology Into the Future Scalability is a major roadblock on the path toward bringing blockchains to mainstream audiences. The ultimate goal of providing low-cost access to blockchain-based applications while guaranteeingsecurity and decentralization is based on the blockchain trilemma. To get more news about https://www.wikibit.com/en/education/new/1.html blockchain knowledge<, you can visit wikifx.com official website. The blockchain trilemma is premised on the idea that we can only achieve two of the following three aims: decentralization, security, and/or scalability. This has led to countless blockchains sacrificing decentralization or security to achieve scalability, an undesirable tradeoff to say the least. Despite this challenge, the blockchain industry has seen remarkable growth in its first decade, with a $1 trillion valuation and over 420 million users. The next few years could bring even greater milestones, with the number of crypto users on track to breach the one billion mark within six years. The industry’s future undoubtedly lies in building high-performance scalable blockchains, and the need for such solutions has never been as pressing as now. This piece dives deeper into crypto’s scaling problem and how it affects users and developers. Crypto’s scaling problem The cryptocurrency ecosystem faces severe limitations and bottlenecks impeding adoption. The most largely-used blockchains routinely suffer from high transaction fees, congestion, and downtimes during peak periods. And of course, these limitations remain even for projects that sacrifice a degree of decentralization to prioritize speed and low network fees. Crypto’s scaling problem is further evident in the fragmentation of developers and users on different blockchains. DefiLlama shows there are 170 chains with thousands of additional decentralized applications (dApps) for multiple use cases. The current multi-chain approach results in fragmented liquidity and increased security risks as users bridge assets across chains. It poses an even greater challenge for developers who must jump through hoops to build dApps on different chains. Developers must adopt a common standard for blockchain technology to truly go mainstream. The current approach to development is widely fragmented with vastly different approaches being adopted. Most unfortunately, this fragmented approach trickles down to the end user and results in widely different onboarding and adoption processes. Building a scalable Web3 with Ethereum as a backbone Ethereum’s position as the leading public blockchain in terms of development makes it the ideal foundation for building scalable networks. This article will map out a future where Ethereum is the backbone of Web3 and will provide the necessary tooling for developers to onboard the first billion users to the blockchain industry. It is easy to envision such a future given the wide adoption of Solidity, Ethereum’s native programming language. Solidity is the preferred language for blockchain developers because it is easy to learn and unlocks access to the largest community of Web3 users. Solidity complements the Ethereum Virtual Machine (EVM) and provides excellent tooling for building truly decentralized applications with reduced development time and increased interoperability. The number of Ethereum developers has risen by over 400% in the past year to 5,000, which is more than two times higher than competing smart contract blockchains. Ethereum also boasts the industry’s largest DeFi ecosystem, with a significant portion of non-ETH-based TVL still attributed to EVM-compatible networks.
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  • Why Is the Crypto Market Down Today?



    In the news, Binance suspended Bitcoin transactions for the second time in a few hours, since the network became congested, causing fees to increase considerably.To get more news about https://www.wikibit.com/en/data/index.html Crypto currency market, you can visit wikifx.com official website.

    The Prime Minister of Liechtenstein stated that he wants to allow citizens to pay for government services using Bitcoin.The TOTALCAP has decreased since April 14. On April 20, it cropped below the $1.16 trillion area. Afterward, it validated it as resistance on April 26 and May 6 (red icons).

    A drop below a resistance area and the ensuing validation as resistance is considered a bearish sign. So, it usually lead to downward movements.If a downward movement occurs, the closest support area will be at $1.03 trillion. On the other hand, if the price moves above the $1.16 trillion resistance, it can increase to the next resistance at $1.26 trillion.

    The price of Bitcoin has been following a head-and-shoulders pattern since March 17. This pattern is viewed as negative because it typically results in a decrease in price.

    The neckline of the pattern is at $27,500, and if the price falls below this point, it may lead to a significant drop to $23,200, which is the 0.5 Fib retracement support level.

    However, if the price of Bitcoin surpasses the right shoulder of the pattern (indicated by the red line), it will negate the bearish trend and could potentially increase in value up to $42,000.

    The SUI price broke down from the $1.26 horizontal area on May 8. The downward movement led to a low of $1.09 the same day.

    While the price created a long lower wick, which is considered a sign of buying pressure, it is still trading considerably below the $1.26 horizontal area. If the decrease continues, the next closest support area will be at $0.96. However, if a bullish reversal occurs, the SUI price can increase to the $1.26 resistance area again.
    Why Is the Crypto Market Down Today? In the news, Binance suspended Bitcoin transactions for the second time in a few hours, since the network became congested, causing fees to increase considerably.To get more news about https://www.wikibit.com/en/data/index.html Crypto currency market, you can visit wikifx.com official website. The Prime Minister of Liechtenstein stated that he wants to allow citizens to pay for government services using Bitcoin.The TOTALCAP has decreased since April 14. On April 20, it cropped below the $1.16 trillion area. Afterward, it validated it as resistance on April 26 and May 6 (red icons). A drop below a resistance area and the ensuing validation as resistance is considered a bearish sign. So, it usually lead to downward movements.If a downward movement occurs, the closest support area will be at $1.03 trillion. On the other hand, if the price moves above the $1.16 trillion resistance, it can increase to the next resistance at $1.26 trillion. The price of Bitcoin has been following a head-and-shoulders pattern since March 17. This pattern is viewed as negative because it typically results in a decrease in price. The neckline of the pattern is at $27,500, and if the price falls below this point, it may lead to a significant drop to $23,200, which is the 0.5 Fib retracement support level. However, if the price of Bitcoin surpasses the right shoulder of the pattern (indicated by the red line), it will negate the bearish trend and could potentially increase in value up to $42,000. The SUI price broke down from the $1.26 horizontal area on May 8. The downward movement led to a low of $1.09 the same day. While the price created a long lower wick, which is considered a sign of buying pressure, it is still trading considerably below the $1.26 horizontal area. If the decrease continues, the next closest support area will be at $0.96. However, if a bullish reversal occurs, the SUI price can increase to the $1.26 resistance area again.
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  • Best Cryptocurrency Exchanges




    Looking to get into investing in cryptocurrency? The 1st step is finding the best cryptocurrency exchange for you. Luckily, there are dozens of cryptocurrency exchanges and brokerages you can choose from. With all these offerings, however, it may be hard to find the right platform to get started with crypto. Each cryptocurrency exchange has its own unique benefits which we will get into later on in this article.To get more news about https://www.wikibit.com/en/dr.html best crypto exchange, you can visit wikifx.com official website.

    Depending on your needs as an investor, you may want to opt for an exchange with advanced trading features, low fees, sign up bonuses or industry leading security. Continue reading to find out where each cryptocurrency platform excels so you can make an account with an exchange that fits your needs.
    Let's take a deeper dive into the best cryptocurrency exchanges currently available on the market. Remember, some big names won't be on this list because they're technically considered cryptocurrency brokers, which serve the same function as exchanges but operate differently. If you're looking for the best cryptocurrency brokers, we also have an article on that. Most exchanges have both desktop and mobile applications, so we've weighed both in our review.

    1. Uphold
    Uphold is easily the best cryptocurrency exchange for traders looking to trade a variety of different assets, especially for U.S. users. It supports more than 200 different cryptocurrencies including Bitcoin, Ethereum, XRP, Solana, Dogecoin and more. Uphold also offers cryptocurrency staking where you can earn up to 19.5% on It even offers trading on stocks and precious metals too. Fees on Uphold aren't the lowest in the market but they are close to it.
    Looking for a big sign-up bonus to add to your crypto investments? eToro is currently offering $10 to new investors who sign up on its platform. Note that you'll need to deposit $250 to receive the signup bonus, but if you have the funds it's well worth it. What's more, eToro has a unique feature called CopyTrader which allows you to copy popular crypto traders investments.

    While you should always do your own research before investing in crypto, CopyTrader is a useful feature for new investors. Even for generating trade ideas, this feature may be able to lead you in the right direction when it comes to crypto trading. However, it is important to note that even professional traders face a run of bad luck, so keep that in mind when copy trading.
    Coinbase is the most popular cryptocurrency broker in the U.S., with over 100 million users, and enjoys a renowned reputation for its security measures and regulatory compliance. Its platform allows trading of more than 200 different cryptocurrencies via solid trading tools while ensuring safety standards are exceeded.

    Furthermore, Coinbase provides free crypto to its customers through various means. When you sign up for an account you can spin a free reward wheel which can yield up to $200 worth of Bitcoin or USD. The Coinbase Learn program also gives users mall amounts of crypto just for reading about tokens and taking short quizzes. Coinbase has a great staking page too with solid APYs to get your money working for you.
    Not only is Exodus Wallet one of the top software wallets in the world it is also one of the best cryptocurrency exchanges. With Exodus you can manage and exchange 230+ different cryptocurrencies all in your web browser. Exodus makes it extremely easy to on-ramp fiat currency into cryptos. You can even use Apple Pay or a credit/debit card as well as your bank account to the Exodus Mobile application. Unlike many other crypto wallets and exchanges, Exodus supports multiple blockchains so there is no need to swap between wallets just to buy popular coins like BNB or SOL. Exodus really seems to have everything you need to start trading crypto.

    If you are looking for an affordable, all-in-one cryptocurrency platform, may be the best crypto brokerage for you. Not only does reward its users in several ways, but the platform offers over 100 different cryptocurrencies to invest in. The exchange has its own VISA card, allowing you to use crypto for every day purchases. What's more, Crypto offers up to 8% cash back on purchases with their debit card. If you like to spend money, then using a crypto debit card could be a great way to increase your crypto positions through their rewards program.

    iTrustCapital may be the most unique trading platform on this list, as it allows you to trade cryptocurrencies from an Investment Retirement Account (IRA). IRAs have significant tax benefits, so if you plan on being invested in crypto for the long-run, it may be a good idea to use iTrustCapital to manage your digital assets. What's more, the platform supports over 25 cryptocurrencies, including major assets like Bitcoin, Ethereum and Polygon.
    Best Cryptocurrency Exchanges Looking to get into investing in cryptocurrency? The 1st step is finding the best cryptocurrency exchange for you. Luckily, there are dozens of cryptocurrency exchanges and brokerages you can choose from. With all these offerings, however, it may be hard to find the right platform to get started with crypto. Each cryptocurrency exchange has its own unique benefits which we will get into later on in this article.To get more news about https://www.wikibit.com/en/dr.html best crypto exchange, you can visit wikifx.com official website. Depending on your needs as an investor, you may want to opt for an exchange with advanced trading features, low fees, sign up bonuses or industry leading security. Continue reading to find out where each cryptocurrency platform excels so you can make an account with an exchange that fits your needs. Let's take a deeper dive into the best cryptocurrency exchanges currently available on the market. Remember, some big names won't be on this list because they're technically considered cryptocurrency brokers, which serve the same function as exchanges but operate differently. If you're looking for the best cryptocurrency brokers, we also have an article on that. Most exchanges have both desktop and mobile applications, so we've weighed both in our review. 1. Uphold Uphold is easily the best cryptocurrency exchange for traders looking to trade a variety of different assets, especially for U.S. users. It supports more than 200 different cryptocurrencies including Bitcoin, Ethereum, XRP, Solana, Dogecoin and more. Uphold also offers cryptocurrency staking where you can earn up to 19.5% on It even offers trading on stocks and precious metals too. Fees on Uphold aren't the lowest in the market but they are close to it. Looking for a big sign-up bonus to add to your crypto investments? eToro is currently offering $10 to new investors who sign up on its platform. Note that you'll need to deposit $250 to receive the signup bonus, but if you have the funds it's well worth it. What's more, eToro has a unique feature called CopyTrader which allows you to copy popular crypto traders investments. While you should always do your own research before investing in crypto, CopyTrader is a useful feature for new investors. Even for generating trade ideas, this feature may be able to lead you in the right direction when it comes to crypto trading. However, it is important to note that even professional traders face a run of bad luck, so keep that in mind when copy trading. Coinbase is the most popular cryptocurrency broker in the U.S., with over 100 million users, and enjoys a renowned reputation for its security measures and regulatory compliance. Its platform allows trading of more than 200 different cryptocurrencies via solid trading tools while ensuring safety standards are exceeded. Furthermore, Coinbase provides free crypto to its customers through various means. When you sign up for an account you can spin a free reward wheel which can yield up to $200 worth of Bitcoin or USD. The Coinbase Learn program also gives users mall amounts of crypto just for reading about tokens and taking short quizzes. Coinbase has a great staking page too with solid APYs to get your money working for you. Not only is Exodus Wallet one of the top software wallets in the world it is also one of the best cryptocurrency exchanges. With Exodus you can manage and exchange 230+ different cryptocurrencies all in your web browser. Exodus makes it extremely easy to on-ramp fiat currency into cryptos. You can even use Apple Pay or a credit/debit card as well as your bank account to the Exodus Mobile application. Unlike many other crypto wallets and exchanges, Exodus supports multiple blockchains so there is no need to swap between wallets just to buy popular coins like BNB or SOL. Exodus really seems to have everything you need to start trading crypto. If you are looking for an affordable, all-in-one cryptocurrency platform, may be the best crypto brokerage for you. Not only does reward its users in several ways, but the platform offers over 100 different cryptocurrencies to invest in. The exchange has its own VISA card, allowing you to use crypto for every day purchases. What's more, Crypto offers up to 8% cash back on purchases with their debit card. If you like to spend money, then using a crypto debit card could be a great way to increase your crypto positions through their rewards program. iTrustCapital may be the most unique trading platform on this list, as it allows you to trade cryptocurrencies from an Investment Retirement Account (IRA). IRAs have significant tax benefits, so if you plan on being invested in crypto for the long-run, it may be a good idea to use iTrustCapital to manage your digital assets. What's more, the platform supports over 25 cryptocurrencies, including major assets like Bitcoin, Ethereum and Polygon.
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  • Top Ten Cryptocurrency Frauds of 2023



    The number of scams in the crypto industry that are reported on an annual basis is enormous. Regulators often claim that cryptocurrency frauds are foreseeable, but one should proceed cautiously before trading. Scams potentially flourish the cryptocurrency market for a number of reasons. Due to the scenario with fiat currencies, there are neither banks nor centralized agencies to flag suspect transactions and work to prevent fraud before it occurs. Cryptocurrency transactions are irreversible; if cash is lost, it cannot be recovered, even if the user reports transaction fraud. Considering how scams evolve over time, we’ve compiled ten cryptocurrency frauds that are most probably going to be prevalent in 2023. cryptocurrency frauds of 2023 to deliberate.To get more news about https://www.wikibit.com/en/ WikiBit App, you can visit wikifx.com official website.

    Fake or anonymous identities- A key concern with the blockchain’s extensive use is the absence of KYC processes, this is the top cryptocurrency fraud concern among many others. Numerous No-KYC markets let cryptocurrency users transact anonymously without disclosing any information that may be used to identify them. Scammers use this to their advantage and commit fraud.
    Phishing scams: To obtain personal information, like the user’s cryptocurrency wallet important information, phishing scams write emails with suspicious sites. When victims accidentally open the link Scammers can access victims’ cryptocurrency for an indefinite period of time if they gather enough data.
    Investments scam: Scams involving investments frequently start over social media and promise endless opportunities. Cryptocurrencies might be used as offered investments or financing options in this scam. Invested cryptocurrency immediately enters the scammer’s wallet.
    Scams using business identities: In a plot to impersonate a company, the offenders pose as a reputable online source, like Amazon, eBay, or a client bank, and convince individuals to send them money by purchasing cryptocurrency. The cryptocurrency that scammers sell is frequently fake.
    Sentimental scam: A infatuation poachers on emotions and may involve financial investment. Once the culprit has the user’s confidence, they seem to be wealthy and smart and casually provide investment advice to further their scheme. Once a bond is made, the victim is urged to send the fraudster cryptocurrencies.
    Ponzi scam: Cryptocurrency-based Ponzi schemes operate similarly to conventional payment systems. Fraudsters cannot provide real investment opportunities; instead, they raise cash from new investors to pay back existing investors, leaving investors back.
    Rug-pull fraud- In rug-pull frauds, fraudsters boost a new business, nonfungible token (NFT), or token to attract investors. The fraudsters suddenly vanish with the money after obtaining it. These investments’ software forbids anyone from selling bitcoin after buying it, leaving them with a worthless investment.
    Attack by a man-in-the-middle- Scammers are able to access bitcoin users’ personal information when they log in from a public place. Any data exchanged over a public site, including credentials, cryptocurrency wallet details, and banking information, is susceptible to theft by scammers.
    SIM fraud: SIM exchange fraud happens whenever anyone acquires a duplicate Sim for the phone in order to see the data on the phone. Scammers can access money and account data by stealing the multiple authentication code needed to open a user’s crypto account using the user’s data.
    Employment offers- Scammers will also pose as employers and job searchers to gain access to cryptocurrency accounts. By using this trick, they present a compelling job while demanding cryptocurrency in exchange for workplace training.
    Top Ten Cryptocurrency Frauds of 2023 The number of scams in the crypto industry that are reported on an annual basis is enormous. Regulators often claim that cryptocurrency frauds are foreseeable, but one should proceed cautiously before trading. Scams potentially flourish the cryptocurrency market for a number of reasons. Due to the scenario with fiat currencies, there are neither banks nor centralized agencies to flag suspect transactions and work to prevent fraud before it occurs. Cryptocurrency transactions are irreversible; if cash is lost, it cannot be recovered, even if the user reports transaction fraud. Considering how scams evolve over time, we’ve compiled ten cryptocurrency frauds that are most probably going to be prevalent in 2023. cryptocurrency frauds of 2023 to deliberate.To get more news about https://www.wikibit.com/en/ WikiBit App, you can visit wikifx.com official website. Fake or anonymous identities- A key concern with the blockchain’s extensive use is the absence of KYC processes, this is the top cryptocurrency fraud concern among many others. Numerous No-KYC markets let cryptocurrency users transact anonymously without disclosing any information that may be used to identify them. Scammers use this to their advantage and commit fraud. Phishing scams: To obtain personal information, like the user’s cryptocurrency wallet important information, phishing scams write emails with suspicious sites. When victims accidentally open the link Scammers can access victims’ cryptocurrency for an indefinite period of time if they gather enough data. Investments scam: Scams involving investments frequently start over social media and promise endless opportunities. Cryptocurrencies might be used as offered investments or financing options in this scam. Invested cryptocurrency immediately enters the scammer’s wallet. Scams using business identities: In a plot to impersonate a company, the offenders pose as a reputable online source, like Amazon, eBay, or a client bank, and convince individuals to send them money by purchasing cryptocurrency. The cryptocurrency that scammers sell is frequently fake. Sentimental scam: A infatuation poachers on emotions and may involve financial investment. Once the culprit has the user’s confidence, they seem to be wealthy and smart and casually provide investment advice to further their scheme. Once a bond is made, the victim is urged to send the fraudster cryptocurrencies. Ponzi scam: Cryptocurrency-based Ponzi schemes operate similarly to conventional payment systems. Fraudsters cannot provide real investment opportunities; instead, they raise cash from new investors to pay back existing investors, leaving investors back. Rug-pull fraud- In rug-pull frauds, fraudsters boost a new business, nonfungible token (NFT), or token to attract investors. The fraudsters suddenly vanish with the money after obtaining it. These investments’ software forbids anyone from selling bitcoin after buying it, leaving them with a worthless investment. Attack by a man-in-the-middle- Scammers are able to access bitcoin users’ personal information when they log in from a public place. Any data exchanged over a public site, including credentials, cryptocurrency wallet details, and banking information, is susceptible to theft by scammers. SIM fraud: SIM exchange fraud happens whenever anyone acquires a duplicate Sim for the phone in order to see the data on the phone. Scammers can access money and account data by stealing the multiple authentication code needed to open a user’s crypto account using the user’s data. Employment offers- Scammers will also pose as employers and job searchers to gain access to cryptocurrency accounts. By using this trick, they present a compelling job while demanding cryptocurrency in exchange for workplace training.
    404
    0 Comments 0 Shares 535 Views
  • What We Need To Scale Blockchain Technology Into the Future



    Scalability is a major roadblock on the path toward bringing blockchains to mainstream audiences. The ultimate goal of providing low-cost access to blockchain-based applications while guaranteeingsecurity and decentralization is based on the blockchain trilemma. To get more news about https://www.wikibit.com/en/education/new/1.html blockchain knowledge, you can visit wikifx.com official website.

    The blockchain trilemma is premised on the idea that we can only achieve two of the following three aims: decentralization, security, and/or scalability. This has led to countless blockchains sacrificing decentralization or security to achieve scalability, an undesirable tradeoff to say the least.

    Despite this challenge, the blockchain industry has seen remarkable growth in its first decade, with a $1 trillion valuation and over 420 million users. The next few years could bring even greater milestones, with the number of crypto users on track to breach the one billion mark within six years.

    The industry’s future undoubtedly lies in building high-performance scalable blockchains, and the need for such solutions has never been as pressing as now. This piece dives deeper into crypto’s scaling problem and how it affects users and developers.

    Crypto’s scaling problem
    The cryptocurrency ecosystem faces severe limitations and bottlenecks impeding adoption. The most largely-used blockchains routinely suffer from high transaction fees, congestion, and downtimes during peak periods. And of course, these limitations remain even for projects that sacrifice a degree of decentralization to prioritize speed and low network fees.

    Crypto’s scaling problem is further evident in the fragmentation of developers and users on different blockchains. DefiLlama shows there are 170 chains with thousands of additional decentralized applications (dApps) for multiple use cases. The current multi-chain approach results in fragmented liquidity and increased security risks as users bridge assets across chains. It poses an even greater challenge for developers who must jump through hoops to build dApps on different chains.

    Developers must adopt a common standard for blockchain technology to truly go mainstream. The current approach to development is widely fragmented with vastly different approaches being adopted. Most unfortunately, this fragmented approach trickles down to the end user and results in widely different onboarding and adoption processes.

    Building a scalable Web3 with Ethereum as a backbone
    Ethereum’s position as the leading public blockchain in terms of development makes it the ideal foundation for building scalable networks. This article will map out a future where Ethereum is the backbone of Web3 and will provide the necessary tooling for developers to onboard the first billion users to the blockchain industry.

    It is easy to envision such a future given the wide adoption of Solidity, Ethereum’s native programming language. Solidity is the preferred language for blockchain developers because it is easy to learn and unlocks access to the largest community of Web3 users.

    Solidity complements the Ethereum Virtual Machine (EVM) and provides excellent tooling for building truly decentralized applications with reduced development time and increased interoperability. The number of Ethereum developers has risen by over 400% in the past year to 5,000, which is more than two times higher than competing smart contract blockchains. Ethereum also boasts the industry’s largest DeFi ecosystem, with a significant portion of non-ETH-based TVL still attributed to EVM-compatible networks.
    What We Need To Scale Blockchain Technology Into the Future Scalability is a major roadblock on the path toward bringing blockchains to mainstream audiences. The ultimate goal of providing low-cost access to blockchain-based applications while guaranteeingsecurity and decentralization is based on the blockchain trilemma. To get more news about https://www.wikibit.com/en/education/new/1.html blockchain knowledge, you can visit wikifx.com official website. The blockchain trilemma is premised on the idea that we can only achieve two of the following three aims: decentralization, security, and/or scalability. This has led to countless blockchains sacrificing decentralization or security to achieve scalability, an undesirable tradeoff to say the least. Despite this challenge, the blockchain industry has seen remarkable growth in its first decade, with a $1 trillion valuation and over 420 million users. The next few years could bring even greater milestones, with the number of crypto users on track to breach the one billion mark within six years. The industry’s future undoubtedly lies in building high-performance scalable blockchains, and the need for such solutions has never been as pressing as now. This piece dives deeper into crypto’s scaling problem and how it affects users and developers. Crypto’s scaling problem The cryptocurrency ecosystem faces severe limitations and bottlenecks impeding adoption. The most largely-used blockchains routinely suffer from high transaction fees, congestion, and downtimes during peak periods. And of course, these limitations remain even for projects that sacrifice a degree of decentralization to prioritize speed and low network fees. Crypto’s scaling problem is further evident in the fragmentation of developers and users on different blockchains. DefiLlama shows there are 170 chains with thousands of additional decentralized applications (dApps) for multiple use cases. The current multi-chain approach results in fragmented liquidity and increased security risks as users bridge assets across chains. It poses an even greater challenge for developers who must jump through hoops to build dApps on different chains. Developers must adopt a common standard for blockchain technology to truly go mainstream. The current approach to development is widely fragmented with vastly different approaches being adopted. Most unfortunately, this fragmented approach trickles down to the end user and results in widely different onboarding and adoption processes. Building a scalable Web3 with Ethereum as a backbone Ethereum’s position as the leading public blockchain in terms of development makes it the ideal foundation for building scalable networks. This article will map out a future where Ethereum is the backbone of Web3 and will provide the necessary tooling for developers to onboard the first billion users to the blockchain industry. It is easy to envision such a future given the wide adoption of Solidity, Ethereum’s native programming language. Solidity is the preferred language for blockchain developers because it is easy to learn and unlocks access to the largest community of Web3 users. Solidity complements the Ethereum Virtual Machine (EVM) and provides excellent tooling for building truly decentralized applications with reduced development time and increased interoperability. The number of Ethereum developers has risen by over 400% in the past year to 5,000, which is more than two times higher than competing smart contract blockchains. Ethereum also boasts the industry’s largest DeFi ecosystem, with a significant portion of non-ETH-based TVL still attributed to EVM-compatible networks.
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  • Why Is the Crypto Market Down Today?



    In the news, Binance suspended Bitcoin transactions for the second time in a few hours, since the network became congested, causing fees to increase considerably.To get more news about https://www.wikibit.com/en/data/index.html Crypto currency market, you can visit wikifx.com official website.

    The Prime Minister of Liechtenstein stated that he wants to allow citizens to pay for government services using Bitcoin.The TOTALCAP has decreased since April 14. On April 20, it cropped below the $1.16 trillion area. Afterward, it validated it as resistance on April 26 and May 6 (red icons).

    A drop below a resistance area and the ensuing validation as resistance is considered a bearish sign. So, it usually lead to downward movements.If a downward movement occurs, the closest support area will be at $1.03 trillion. On the other hand, if the price moves above the $1.16 trillion resistance, it can increase to the next resistance at $1.26 trillion.

    The price of Bitcoin has been following a head-and-shoulders pattern since March 17. This pattern is viewed as negative because it typically results in a decrease in price.

    The neckline of the pattern is at $27,500, and if the price falls below this point, it may lead to a significant drop to $23,200, which is the 0.5 Fib retracement support level.

    However, if the price of Bitcoin surpasses the right shoulder of the pattern (indicated by the red line), it will negate the bearish trend and could potentially increase in value up to $42,000.

    The SUI price broke down from the $1.26 horizontal area on May 8. The downward movement led to a low of $1.09 the same day.

    While the price created a long lower wick, which is considered a sign of buying pressure, it is still trading considerably below the $1.26 horizontal area. If the decrease continues, the next closest support area will be at $0.96. However, if a bullish reversal occurs, the SUI price can increase to the $1.26 resistance area again.
    Why Is the Crypto Market Down Today? In the news, Binance suspended Bitcoin transactions for the second time in a few hours, since the network became congested, causing fees to increase considerably.To get more news about https://www.wikibit.com/en/data/index.html Crypto currency market, you can visit wikifx.com official website. The Prime Minister of Liechtenstein stated that he wants to allow citizens to pay for government services using Bitcoin.The TOTALCAP has decreased since April 14. On April 20, it cropped below the $1.16 trillion area. Afterward, it validated it as resistance on April 26 and May 6 (red icons). A drop below a resistance area and the ensuing validation as resistance is considered a bearish sign. So, it usually lead to downward movements.If a downward movement occurs, the closest support area will be at $1.03 trillion. On the other hand, if the price moves above the $1.16 trillion resistance, it can increase to the next resistance at $1.26 trillion. The price of Bitcoin has been following a head-and-shoulders pattern since March 17. This pattern is viewed as negative because it typically results in a decrease in price. The neckline of the pattern is at $27,500, and if the price falls below this point, it may lead to a significant drop to $23,200, which is the 0.5 Fib retracement support level. However, if the price of Bitcoin surpasses the right shoulder of the pattern (indicated by the red line), it will negate the bearish trend and could potentially increase in value up to $42,000. The SUI price broke down from the $1.26 horizontal area on May 8. The downward movement led to a low of $1.09 the same day. While the price created a long lower wick, which is considered a sign of buying pressure, it is still trading considerably below the $1.26 horizontal area. If the decrease continues, the next closest support area will be at $0.96. However, if a bullish reversal occurs, the SUI price can increase to the $1.26 resistance area again.
    BTCGrayscale Trust position amount-Grayscale Trust data-WikiBit Data Center-WikiBitAPP
    「WikiBit」Grayscale Trust Position Amount, which represents the amount of BTC held in the 629516.74 trust fund issued by Grayscale Trust.
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  • Best Cryptocurrency Exchanges




    Looking to get into investing in cryptocurrency? The 1st step is finding the best cryptocurrency exchange for you. Luckily, there are dozens of cryptocurrency exchanges and brokerages you can choose from. With all these offerings, however, it may be hard to find the right platform to get started with crypto. Each cryptocurrency exchange has its own unique benefits which we will get into later on in this article.To get more news about https://www.wikibit.com/en/dr.html best crypto exchange, you can visit wikifx.com official website.

    Depending on your needs as an investor, you may want to opt for an exchange with advanced trading features, low fees, sign up bonuses or industry leading security. Continue reading to find out where each cryptocurrency platform excels so you can make an account with an exchange that fits your needs.
    Let's take a deeper dive into the best cryptocurrency exchanges currently available on the market. Remember, some big names won't be on this list because they're technically considered cryptocurrency brokers, which serve the same function as exchanges but operate differently. If you're looking for the best cryptocurrency brokers, we also have an article on that. Most exchanges have both desktop and mobile applications, so we've weighed both in our review.

    1. Uphold
    Uphold is easily the best cryptocurrency exchange for traders looking to trade a variety of different assets, especially for U.S. users. It supports more than 200 different cryptocurrencies including Bitcoin, Ethereum, XRP, Solana, Dogecoin and more. Uphold also offers cryptocurrency staking where you can earn up to 19.5% on It even offers trading on stocks and precious metals too. Fees on Uphold aren't the lowest in the market but they are close to it.
    Looking for a big sign-up bonus to add to your crypto investments? eToro is currently offering $10 to new investors who sign up on its platform. Note that you'll need to deposit $250 to receive the signup bonus, but if you have the funds it's well worth it. What's more, eToro has a unique feature called CopyTrader which allows you to copy popular crypto traders investments.

    While you should always do your own research before investing in crypto, CopyTrader is a useful feature for new investors. Even for generating trade ideas, this feature may be able to lead you in the right direction when it comes to crypto trading. However, it is important to note that even professional traders face a run of bad luck, so keep that in mind when copy trading.
    Coinbase is the most popular cryptocurrency broker in the U.S., with over 100 million users, and enjoys a renowned reputation for its security measures and regulatory compliance. Its platform allows trading of more than 200 different cryptocurrencies via solid trading tools while ensuring safety standards are exceeded.

    Furthermore, Coinbase provides free crypto to its customers through various means. When you sign up for an account you can spin a free reward wheel which can yield up to $200 worth of Bitcoin or USD. The Coinbase Learn program also gives users mall amounts of crypto just for reading about tokens and taking short quizzes. Coinbase has a great staking page too with solid APYs to get your money working for you.
    Not only is Exodus Wallet one of the top software wallets in the world it is also one of the best cryptocurrency exchanges. With Exodus you can manage and exchange 230+ different cryptocurrencies all in your web browser. Exodus makes it extremely easy to on-ramp fiat currency into cryptos. You can even use Apple Pay or a credit/debit card as well as your bank account to the Exodus Mobile application. Unlike many other crypto wallets and exchanges, Exodus supports multiple blockchains so there is no need to swap between wallets just to buy popular coins like BNB or SOL. Exodus really seems to have everything you need to start trading crypto.

    If you are looking for an affordable, all-in-one cryptocurrency platform, may be the best crypto brokerage for you. Not only does reward its users in several ways, but the platform offers over 100 different cryptocurrencies to invest in. The exchange has its own VISA card, allowing you to use crypto for every day purchases. What's more, Crypto offers up to 8% cash back on purchases with their debit card. If you like to spend money, then using a crypto debit card could be a great way to increase your crypto positions through their rewards program.

    iTrustCapital may be the most unique trading platform on this list, as it allows you to trade cryptocurrencies from an Investment Retirement Account (IRA). IRAs have significant tax benefits, so if you plan on being invested in crypto for the long-run, it may be a good idea to use iTrustCapital to manage your digital assets. What's more, the platform supports over 25 cryptocurrencies, including major assets like Bitcoin, Ethereum and Polygon.
    Best Cryptocurrency Exchanges Looking to get into investing in cryptocurrency? The 1st step is finding the best cryptocurrency exchange for you. Luckily, there are dozens of cryptocurrency exchanges and brokerages you can choose from. With all these offerings, however, it may be hard to find the right platform to get started with crypto. Each cryptocurrency exchange has its own unique benefits which we will get into later on in this article.To get more news about https://www.wikibit.com/en/dr.html best crypto exchange, you can visit wikifx.com official website. Depending on your needs as an investor, you may want to opt for an exchange with advanced trading features, low fees, sign up bonuses or industry leading security. Continue reading to find out where each cryptocurrency platform excels so you can make an account with an exchange that fits your needs. Let's take a deeper dive into the best cryptocurrency exchanges currently available on the market. Remember, some big names won't be on this list because they're technically considered cryptocurrency brokers, which serve the same function as exchanges but operate differently. If you're looking for the best cryptocurrency brokers, we also have an article on that. Most exchanges have both desktop and mobile applications, so we've weighed both in our review. 1. Uphold Uphold is easily the best cryptocurrency exchange for traders looking to trade a variety of different assets, especially for U.S. users. It supports more than 200 different cryptocurrencies including Bitcoin, Ethereum, XRP, Solana, Dogecoin and more. Uphold also offers cryptocurrency staking where you can earn up to 19.5% on It even offers trading on stocks and precious metals too. Fees on Uphold aren't the lowest in the market but they are close to it. Looking for a big sign-up bonus to add to your crypto investments? eToro is currently offering $10 to new investors who sign up on its platform. Note that you'll need to deposit $250 to receive the signup bonus, but if you have the funds it's well worth it. What's more, eToro has a unique feature called CopyTrader which allows you to copy popular crypto traders investments. While you should always do your own research before investing in crypto, CopyTrader is a useful feature for new investors. Even for generating trade ideas, this feature may be able to lead you in the right direction when it comes to crypto trading. However, it is important to note that even professional traders face a run of bad luck, so keep that in mind when copy trading. Coinbase is the most popular cryptocurrency broker in the U.S., with over 100 million users, and enjoys a renowned reputation for its security measures and regulatory compliance. Its platform allows trading of more than 200 different cryptocurrencies via solid trading tools while ensuring safety standards are exceeded. Furthermore, Coinbase provides free crypto to its customers through various means. When you sign up for an account you can spin a free reward wheel which can yield up to $200 worth of Bitcoin or USD. The Coinbase Learn program also gives users mall amounts of crypto just for reading about tokens and taking short quizzes. Coinbase has a great staking page too with solid APYs to get your money working for you. Not only is Exodus Wallet one of the top software wallets in the world it is also one of the best cryptocurrency exchanges. With Exodus you can manage and exchange 230+ different cryptocurrencies all in your web browser. Exodus makes it extremely easy to on-ramp fiat currency into cryptos. You can even use Apple Pay or a credit/debit card as well as your bank account to the Exodus Mobile application. Unlike many other crypto wallets and exchanges, Exodus supports multiple blockchains so there is no need to swap between wallets just to buy popular coins like BNB or SOL. Exodus really seems to have everything you need to start trading crypto. If you are looking for an affordable, all-in-one cryptocurrency platform, may be the best crypto brokerage for you. Not only does reward its users in several ways, but the platform offers over 100 different cryptocurrencies to invest in. The exchange has its own VISA card, allowing you to use crypto for every day purchases. What's more, Crypto offers up to 8% cash back on purchases with their debit card. If you like to spend money, then using a crypto debit card could be a great way to increase your crypto positions through their rewards program. iTrustCapital may be the most unique trading platform on this list, as it allows you to trade cryptocurrencies from an Investment Retirement Account (IRA). IRAs have significant tax benefits, so if you plan on being invested in crypto for the long-run, it may be a good idea to use iTrustCapital to manage your digital assets. What's more, the platform supports over 25 cryptocurrencies, including major assets like Bitcoin, Ethereum and Polygon.
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  • Top Metaverse Crypto Projects To Watch In 2023



    We’re living through transformative times, which can feel both exciting and hard to keep up with. All that talk of Web 3.0, cryptocurrencies and the metaverse, but most of us are still left scratching our heads when trying to understand what it actually means.To get more news about https://www.wikibit.com/en/dr.html best crypto exchange, you can visit wikifx.com official website.

    The good news is that while the technology might be a new concept, there are plenty of great projects already taking off and creating opportunities that could change your life in a profound way. In particular, the metaverse and crypto are coming together to shape the future of digital frontiers in areas like gaming, work, entertainment, education, shopping and much more.

    With so much going on, it’s perhaps worth getting to know what’s this all about and which metaverse projects to keep a close eye on in 2023.

    What Is The Metaverse?
    While we have delved into it previously, here’s a quick recap: the metaverse refers to an all-encompassing digital world where users, in the the form of an avatar, can interact with each other, perform day to day activities and have the same type of experiences they would in the real world. It’s easier to simply imagine the metaverse as an overlap between physical and digital, bridging what’s best out of both platforms. We can also think of it was the next evolution in online settings where the social interactions we have will become even more multidimensional, leading us to participate and connect with others in more meaning ways.

    Tech giants such as Meta, Google, Microsoft and Tencent are plowing ahead with metaverse projects, each in the hopes of becoming a major shaping force behind this new digital realm. The race has seen heavy hitters drawing out their wallets - and the payout could be huge.

    Recent estimates indicate that the global metaverse market is expected to grow by as much as 40% within the next eight years, being valued at nearly $670 billion by 2030. According to this report, “major factors expected to drive the revenue growth include a growing focus on integrating digital and physical worlds using the Internet, increasing momentum and popularity of Mixed Reality (MR), Augmented Reality (AR) and Virtual Reality (VR).”
    There are several drivers worth taking a closer look at in this context, including the growing demand for digital assets and the cryptocurrencies needed to make virtual markets move. Crypto is the currency of the metaverse and non-fungible tokens (NFTs) are its assets. The latter can represent anything within a virtual world, from an avatar’s clothing to concert tickets and original art creations, all of which can be developed, bought, sold and exchanged based on a metaverse’s native cryptocurrency.

    As such, the metaverse has become home to thriving virtual markets. Metaverse crypto has become increasingly widespread through exchanges and its accessibility has seen the technology being adopted by consumers and investors alike.

    Sensorium Galaxy is an example of a metaverse, whose blockchain-powered virtual economy can fairly and transparently reward users for their help in co-creating its many worlds. That’s because blockchain-based currencies allow all assets inside a metaverse to be easily and securely created, exchanged, shared and tracked, potentially allowing items to be seamlessly moved by its users across different worlds or meta destinations. Sure, these might seem like unreal worlds but they can have some pretty real upsides, trust us.

    If you're worried you missed the metaverse boat, perhaps it isn’t yet all too late. Here are ten metaverse projects that should definitely be on your radar if you’re looking to invest in 2023.
    Top Metaverse Crypto Projects To Watch In 2023 We’re living through transformative times, which can feel both exciting and hard to keep up with. All that talk of Web 3.0, cryptocurrencies and the metaverse, but most of us are still left scratching our heads when trying to understand what it actually means.To get more news about https://www.wikibit.com/en/dr.html best crypto exchange, you can visit wikifx.com official website. The good news is that while the technology might be a new concept, there are plenty of great projects already taking off and creating opportunities that could change your life in a profound way. In particular, the metaverse and crypto are coming together to shape the future of digital frontiers in areas like gaming, work, entertainment, education, shopping and much more. With so much going on, it’s perhaps worth getting to know what’s this all about and which metaverse projects to keep a close eye on in 2023. What Is The Metaverse? While we have delved into it previously, here’s a quick recap: the metaverse refers to an all-encompassing digital world where users, in the the form of an avatar, can interact with each other, perform day to day activities and have the same type of experiences they would in the real world. It’s easier to simply imagine the metaverse as an overlap between physical and digital, bridging what’s best out of both platforms. We can also think of it was the next evolution in online settings where the social interactions we have will become even more multidimensional, leading us to participate and connect with others in more meaning ways. Tech giants such as Meta, Google, Microsoft and Tencent are plowing ahead with metaverse projects, each in the hopes of becoming a major shaping force behind this new digital realm. The race has seen heavy hitters drawing out their wallets - and the payout could be huge. Recent estimates indicate that the global metaverse market is expected to grow by as much as 40% within the next eight years, being valued at nearly $670 billion by 2030. According to this report, “major factors expected to drive the revenue growth include a growing focus on integrating digital and physical worlds using the Internet, increasing momentum and popularity of Mixed Reality (MR), Augmented Reality (AR) and Virtual Reality (VR).” There are several drivers worth taking a closer look at in this context, including the growing demand for digital assets and the cryptocurrencies needed to make virtual markets move. Crypto is the currency of the metaverse and non-fungible tokens (NFTs) are its assets. The latter can represent anything within a virtual world, from an avatar’s clothing to concert tickets and original art creations, all of which can be developed, bought, sold and exchanged based on a metaverse’s native cryptocurrency. As such, the metaverse has become home to thriving virtual markets. Metaverse crypto has become increasingly widespread through exchanges and its accessibility has seen the technology being adopted by consumers and investors alike. Sensorium Galaxy is an example of a metaverse, whose blockchain-powered virtual economy can fairly and transparently reward users for their help in co-creating its many worlds. That’s because blockchain-based currencies allow all assets inside a metaverse to be easily and securely created, exchanged, shared and tracked, potentially allowing items to be seamlessly moved by its users across different worlds or meta destinations. Sure, these might seem like unreal worlds but they can have some pretty real upsides, trust us. If you're worried you missed the metaverse boat, perhaps it isn’t yet all too late. Here are ten metaverse projects that should definitely be on your radar if you’re looking to invest in 2023.
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  • Crypto exchange Binance pulls out of FTX acquisition



    The crypto exchange Binance has pulled out of a deal to acquire rival digital currency company FTX just 24 hours after it announced the tentative agreement, the company said in a statement Wednesday on Twitter. To get more news about https://www.wikibit.com/en/202304119054918870.html BINANCE, you can visit wikifx.com official website.

    The about-face is yet another major market disruptor in an increasingly volatile industry. The deal would have combined two of the world’s largest crypto platforms amid concerns about the financial viability of many companies whose digital assets have dropped significantly in value in recent months

    “As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition ” Binance said.

    The reversal immediately puts the future of FTX, once one of the crypto industry's most popular and valuable companies, in doubt. CNBC reported that the company was privately valued earlier this year at $32 billion and may now be on the verge of insolvency.

    Neither FTX nor the Securities and Exchange Commission immediately responded to inquiries about the deal or the reported investigation.

    Earlier Wednesday, Binance CEO Changpeng Zhao told staff members in an internal letter that the acquisition had not been a part of Binance’s corporate strategy. Zhao also warned his employees that FTX’s downfall could have a contagion effect on the rest of the $1 trillion digital asset industry, increasing price volatility for cryptocurrencies and precipitating a regulatory crackdown on crypto firms.

    Talk of the acquisition began after a CoinDesk report pointed to evidence that FTX was likely to be experiencing a liquidity crunch. The story led to a bank-run-style rush of customer withdrawals from the exchange, prompting FTX to pause withdrawals.

    News of FTX’s insolvency has hit the platform and the wider crypto industry hard.

    Customers withdrew about $6 billion from FTX in the 72 hours before it paused withdrawals, Reuters reported, citing an internal staff memo from CEO Sam Bankman-Fried. Meanwhile, the price of Bitcoin has plunged by roughly 16%, to just under $16,000, in the past week since reports of FTX’s financial troubles surfaced. The CoinDesk Market Index, a broad-based index of the digital asset market, is down by about 12% from last week.
    Crypto exchange Binance pulls out of FTX acquisition The crypto exchange Binance has pulled out of a deal to acquire rival digital currency company FTX just 24 hours after it announced the tentative agreement, the company said in a statement Wednesday on Twitter. To get more news about https://www.wikibit.com/en/202304119054918870.html BINANCE, you can visit wikifx.com official website. The about-face is yet another major market disruptor in an increasingly volatile industry. The deal would have combined two of the world’s largest crypto platforms amid concerns about the financial viability of many companies whose digital assets have dropped significantly in value in recent months “As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition ” Binance said. The reversal immediately puts the future of FTX, once one of the crypto industry's most popular and valuable companies, in doubt. CNBC reported that the company was privately valued earlier this year at $32 billion and may now be on the verge of insolvency. Neither FTX nor the Securities and Exchange Commission immediately responded to inquiries about the deal or the reported investigation. Earlier Wednesday, Binance CEO Changpeng Zhao told staff members in an internal letter that the acquisition had not been a part of Binance’s corporate strategy. Zhao also warned his employees that FTX’s downfall could have a contagion effect on the rest of the $1 trillion digital asset industry, increasing price volatility for cryptocurrencies and precipitating a regulatory crackdown on crypto firms. Talk of the acquisition began after a CoinDesk report pointed to evidence that FTX was likely to be experiencing a liquidity crunch. The story led to a bank-run-style rush of customer withdrawals from the exchange, prompting FTX to pause withdrawals. News of FTX’s insolvency has hit the platform and the wider crypto industry hard. Customers withdrew about $6 billion from FTX in the 72 hours before it paused withdrawals, Reuters reported, citing an internal staff memo from CEO Sam Bankman-Fried. Meanwhile, the price of Bitcoin has plunged by roughly 16%, to just under $16,000, in the past week since reports of FTX’s financial troubles surfaced. The CoinDesk Market Index, a broad-based index of the digital asset market, is down by about 12% from last week.
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