Why cryptocurrency mining is being banned in Europe

The vice president of the ESMA (European Securities and Markets Authority) has formally called for the European Union to end cryptocurrency mining that requires PoW (Proof of Work). This is because the country’s ecological and climate objectives are being deeply affected. In fact, the provisions of the Paris Agreement are not being fulfilled due to the amount of energy used in cryptocurrency mining.

In the Financial Times, Vice president Thedéen stressed that if not acted right now, Bitcoin mining can wreak havoc on the effects of global warming. Carbon pollution is a catastrophic event that is affecting us without realizing it. The financial and technological industry needs to open its eyes to what matters and banning proof of work is one of the measures to be taken. In addition, more and more institutions want to adhere to the cryptocurrency landscape, so the situation could get worse if they did nothing about it.

For example, at the start of Bitcoin in 2009, any computer could mine if it met some basic requirements. However, as the cryptocurrency was gaining popularity and competition stoked, a lot of power was required to be able to solve the complicated algorithms presented. This is how everything became louder, warmer and less eco-friendly.

Bitcoin mining consumes great energy

One of the activities that consumes the most energy is Bitcoin. This is because globally connected computers are solving complex calculations at the same time. There is one device that achieves a new block, while the rest are emitting tons of carbon unnecessarily. Proof of stake would therefore be the best option. This is also called Staking and many innovative projects are already using it. This does not mean that it has no impact on the environment, but electricity consumption is considerably lower.

Proof of stake requires a smaller number of computer equipment participating within the blockchain. Similarly, fewer people are needed to participate. It should be noted that some innovative projects are also offering a third form of mining, where hard drives are used. However, what appeared to be a solution at first has turned into a crisis within Asian countries. This is because many users bought large quantities of hard drives to keep them in their homes for cryptocurrency mining. And this is also pollution.

It’s not about banning cryptocurrencies

One of the elements that stood out within the interview is that there is no seeking to ban or regulate cryptocurrencies. It is simply a shift from industry to technologies that are not only more economically efficient, but environmentally efficient. If the planet’s resources run out, there’s nothing more to do. In fact the University of Cambridge published a report in which it is estimated that mining consumed what an entire country could do and generates more than 90 million tons of carbon per year. Unbelievable, but true.

It should be noted that there are countries that have simply banned everything related to cryptocurrencies. In China you can neither mine nor make transactions. To avoid such drastic measures, developers of new projects have changed the forms and are proposing renewable energy mechanisms. In fact, the same Bitcoin makers are also trying to move towards green sources. Ethereum, for its part, moves further away from the PoW protocol every day.

Advertising will also be affected 

Advertising relating to financial securities, including cryptocurrencies, is being regulated in some European countries. In this way it seeks to avoid commercial practices that lead to deception. It also prevents influencers of dubious origin from promising villas and castles. In fact, any popular character who wants to advertise cryptocurrencies, will have to warn the real risks, declare what they really earn through them and mention to the media the content of their commercial before proceeding.

Due to these regulatory measures from some countries, as well as the precautions being taken regarding mining, the value of Bitcoin and other popular cryptocurrencies has been seen to fall. Throughout this week it has been seen as most popular cryptocurrencies are “down”, producing a number of conflicting opinions on the matter. Losses greater than 10% are calculated in the first 25 days of 2022.

But what will happen? the ban on cryptocurrency mining in Europe is only one of the steps that must be taken to avoid ecological ruin. For some, this is the beginning of the end of cryptocurrencies, because they have always taken them as “a passing game” that will never replace FIAT money. However, for others, cryptocurrencies, NFTs and tokens of various kinds are simply going through a process of re-adaptation to subsequently begin the era of the internet 3.0.

For now, it is suggested to go towards greener practices, review projects that are not working with the PoW and try to look for alternative ways to earn cryptocurrencies. For example, with the advent of NFTs, we have seen the possibility of making money through video games, online sports betting or digital art galleries. Perhaps it is time to change perspectives and move towards cleaner solutions.

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How to protect against theft and cryptocurrency scams?

Search for reputable exchanges and purses

One of the ways to protect yourself against theft and cryptocurrency scams is to refer to reputable exchanges and wallets. This way, you can avoid deceptive apps that damage your devices or take away your personal information and money. In addition, the exchange offices also provide information about the currencies, charts and analysis tools for your next movements.

Among the most recognized exchanges is Coinbase, which has a wide diversity of cryptocurrencies, as well as low commissions, good customer support and an easy-to-use interface. Another reliable exchange is Kraken, which operates in more than 150 countries, having a high daily transaction volume. Binance is another leader in the area, having the lowest commissions within the houses available. For its part, eToro is one of the best options for beginners.

Wallets, on the other hand, are classified into different types. You can find them paper, hardware or online. It will also be a decision adapted to what best suits you, although the best option will be the hardware, since it is a sophisticated pend drive where you will keep your assets safe. Among the best cryptocurrency wallets are Exodus, Coinomi, Atomic Wallet, BRD Wallet, Electrum, MyCellium, Metamask, Legder Nano X and Trezor Model T.

What are phishing scams with cryptocurrencies

One of the most common scams in the world of digital finance is phishing. Hackers are the order of the day, trying to steal the information stored on the millions of devices that are connected to the network. Therefore, to protect against theft and scams with cryptocurrencies of this style, we recommend:

Avoid clicking on misleading links that reach you by e-mail. It may happen that they even have the logo and the name of one of the aforementioned exchange offices, but you should avoid clicking on any communication that comes to you and go directly to the website to see if there is something related to what you read in the e-mail. You can also call them directly.

The same goes for misleading text messages. Avoid clicking from your mobile device, as they might be trying to access the information you have stored inside, keeping passwords and usernames. Avoid saving important passwords in the browser. Many browsers have the option to automatically save passwords. However, avoid accepting this option at all costs when it comes to banking transactions.

Don’t believe in suspicious phone calls where you are threatened that they are looking for you because of a certain crime (by mistake) or where they are trying to offer you something you didn’t ask for in the first place. Use a good antivirus on your computers and mobile devices, especially if you handle large amounts of money or if they belong to a company.

Cryptocurrency gurus and pyramid scams

Another way to protect yourself against theft and cryptocurrency scams is to avoid falling victim to gurus and pyramid schemes. These have always existed, but nowadays cryptocurrencies lend themselves too much to proliferate even more. Gurus will always promise:

• The solution to the economic problems of your life, since they know how, when and where to invest to be millionaires in an instant.
• How to get a Ferrari working from home only 1 hour (or this kind of impossible).
• The never-before-revealed secrets of cryptocurrencies, which will only give you, the chosen one who is watching your video or visiting your page. (Of course, you will have to pay a sum to be able to access such precious knowledge).
• The total solution for cryptocurrencies to offer you a return of 100% or more on your investment (which in most cases is impossible, and even more so if you are a novice in the area).
• “Commissions” for calling a friend to also get the precious knowledge of the cryptocurrency guru.

In order to differentiate pyramid schemes and false gurus from what is true, we recommend that you keep three points in mind:

1.- If something seems too good to be true, it’s because it’s not. Within the world of cryptocurrencies there are no miracles.

2.- Information regarding finances, cryptocurrencies, charts, forecasts and investments is found on the internet for free in most times. You can inform yourself and become an expert with constancy, study and patience, without paying exorbitant sums for miraculous courses.

3.- It is not possible to get a Ferrari working from home 1 hour, it will require a little more work.

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Cryptocurrency guide: Cryptos have been on the rise since its inception

Cryptocurrencies have been on the rise since their inception in 2009. Recall that the first of all was Bitcoin, developed by Satoshi Nakamoto. Its main objective was to create a decentralized form of payment, where you could send money anywhere in the world without paying commissions, without taxes and without waiting several days. Similarly, the blockchain guaranteed great security, since the encrypted technology allows everything to be recorded in a non-modifiable digital ledger.

If you are starting out in the world of cryptocurrencies, it is advisable to know the basics that will help you stay up to date. It is also important to know technology and finance, to avoid blindly believing in these investment mechanisms, which are characterized by their permanent volatility. Cryptocurrencies seek to have three basic features:

• Decentralization: which means that they do not depend on any regulatory or governmental entity that controls them.
• Security: because the transactions are within the blockchain and are recorded forever, being able to be tracked at any time.
• Speed: because you can send money globally without having to pay high commissions, or wait several days for the transaction to” become effective”, as it happens with traditional banks.

Cryptocurrency Guide 2022: some concepts

Blockchain / Blockchain

It is the technology that is spreading around the world and where almost all cryptocurrencies are being developed. The first was Bitcoin, but currently there are hundreds of them. The most used for the creation of video games and content platforms are those of Ethereum, Cardano and Solana. This is because they use the execution of smart contracts, or applications that are activated on demand. Blockchains are networks of computers that come together to store and update records of all transactions made.

Notably, blockchains use cryptography (hence the name cryptocurrency), as well as mathematical techniques that make the code used secure and almost impenetrable. Computers keep the same records immutably and this is what makes for greater security when making cryptocurrency payments. No assets can be duplicated within the blockchain plus records are open for all users to see. In fact, any desired transaction can be traced.

Value of cryptocurrencies

Cryptocurrencies are worth according to market movements and demand they have. Everything will depend on what investors are willing to pay. For example, it is estimated that in Bitcoin there are more than 2 trillion dollars. For some people it is strange, since everything will depend on what users are also willing to pay for. This case is being seen in NFTs, which are non-fungible tokens with a certain value based on an original object.

Some experts point out that everything is a” magic ” product of collective hysteria, which conjures money out of nothing. However, traditional money also consists of an agreement, a series of papers and digits that have a value due to majority consensus. Detractors also point out that Bitcoin will not be able to have more than 21 million units, making it inflationary, due to the world population being almost 8 million people.

It is necessary to think with a cool head when investing in cryptocurrencies. The vulnerability of these and the volatility of their prices means that they are not a stable means of investment. However, there are stablecoins, which have a value equal to that of a FIAT currency (dollar, euro, yen) but have the advantages offered by the blockchain.

Future of cryptocurrencies and mining

Despite the fact that many companies are changing their payment methods, cryptocurrencies are not yet fully popular in this regard. In fact, the list of places where you can pay with cryptocurrencies is even smaller. Those who accept them only receive Bitcoin, Ethereum and Litecoin. However, the other 15 thousand existing options are conspicuous by their absence. This causes many potential users to refrain from investing in cryptocurrencies.

Bitcoin usually does not maintain a stable price at any time, which makes it unreliable as a means of investment. It either climbs rapidly or has dramatic falls, depending on events worldwide. Similarly, some cryptocurrencies require small commission payments, which would mean that they are not as fast and efficient as other experts point out. These reasons mean that there are people who do not even try to approach the world of cryptocurrencies.

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The predictions about cryptocurrencies and NFTs in 2022

What are cryptocurrencies

If you don’t know what cryptocurrencies are about yet, you may have been curious about it. This is decentralized digital money, whose origin dates back to 2009. It was then that a group of developers, under the pseudonym Satoshi Nakamoto, brought to light Bitcoin, a cryptocurrency that was initially taken as a joke. Offering faster transactions than traditional banking.

It is also a decentralized system, which no governmental or corporate entity controls. Therefore, the proposal began to become increasingly attractive, increasing its value (up to thousands of dollars currently for each Bitcoin). Similarly, as the years have progressed, parallel cryptocurrencies with different characteristics have emerged. It is estimated that there are more than 15 thousand of them today.

What are NFTs?

For their part, the NFTs have emerged since 2020, but it is not until the end of 2021 that they begin to gain real popularity. This is due to news as crazy as the fact that someone bought a drawing of a simple stone for thousands of dollars, or that the soundtrack of a certain artist can be worth a lot of money, without the need for it to be a pop icon. NFTs, unlike cryptocurrencies, are not fungible. That is, a token represents only one thing and it cannot be exchanged.

That is why the world of art and music has been positively influenced by the NFTs. There is a wide variety of platforms where you can acquire NFTs according to the different conditions of its users. The area of video games and applications has also been influenced by this new trend. However, what is the point of acquiring a digital good at such a high price?

According to a group of experts this could be worth much more as the months go by. However, within the predictions about cryptocurrencies and NFT there are also some that point out that it is a waste of time and that it is just another speculative bubble, of a temporary nature.

What are the predictions about cryptocurrencies and NFTs

Within the different predictions about cryptocurrencies and NFTs that we can find, we have to:

• First of all, experts bet on a rise in the price of Ethereum, due to the change of its operation with the PoS or proof of stake. Some even risk saying that it will increase more than Bitcoin itself, fulfilling their dream of overcoming.
• The metaverse is another term that is being handled within the future of cryptocurrencies. According to specialists, this will become the new interface of the web, so that users can interact better with each other. To this is added the battle that could be waged between the cryptographic metaverse and that of video games.
• A large increase in the market capitalization of the cryptocurrency economy in general is planned. By the end of 2022 it could have reached 7 billion dollars, according to specialists.
• Some countries will use cryptocurrencies from the Central Bank, such as China and its Digital Yuan.
• Some users are already looking at how to acquire NFTs through bots, so they would quickly shift to conventional users. However, this could also mean that the” fad ” of the NFTs is transient, since it would be transformed into an automated process without too much interest.
• The video game industry could be positively affected by these changes, calling for a lot of interest in initial game offerings.
• Banks would join efforts to continue increasing digital security and to find fraud trends in cryptocurrency transactions.
• Although the metaverse is considered “the future of the web”, it would still take a long time to take full possession of it.

Best options for NFTs

• OpenSea

  Is the largest platform to buy and sell NFTs today. Within its website you can find a wide variety of digital assets. Likewise, the creation of your own NFTs is very simple and if you have the Ethereum wallet, even more so.

• KnownOrigin

  You can find a series of unique works of art within this platform. If you are concerned about the originality and authenticity of objects and works of art, then this is your best option.

• Ethernity

  A platform that operates with Ethereum and that allows you to sell NFTs not only original but limited edition. In addition, it is specialized in sports activities and you can buy directly or through auction.

• Rarible

  It is the competition of OpenSea and has an easy-to-understand and easy-to-use interface. It has a guide to be able to make your own NFTs, as well as to buy or sell. Best of all, it doesn’t cover a single topic, as it does with other platforms, but it has several areas of interest, according to the trends of the day.

The best cryptocurrencies to invest this 2022

• Bitcoin

  The most classic of cryptocurrencies continues to be the best investment today. In addition, more and more countries and businesses accept it as a form of payment. The number of Bitcoin investors is growing by leaps and bounds. According to forecasts, the rapid growth of its rate is an indication that it will continue to rise in the coming weeks.

• Ethereum

  It is the currency that is considered to be able to replace Bitcoin in the not-so-distant future. It is also one of the most used platforms by other projects and dApps. Since its launch it has become the biggest competition within the cryptocurrency field. A profit of 980% is expected for this year.

• Polkadot

  It is a big competitor of Ethereum because of its security. Polkadot also offers greater scalability of most existing projects today. It is estimated that there may be a gain of up to 700% in the coming months for this cryptocurrency.

• Binance Coin

  It is one of the cryptocurrencies with the best market capitalization, in addition to transmitting great security in transactions. Initially it was used to trade, but now you can pay for various goods and services and the range of possibilities continues to expand.

• Uniswap

  It is a project that offers great security and stands out for its automated liquidity protocol. The latter allows project investors to exchange tokens almost instantly, without the need to set a buy or sell price. Growth is estimated at 290% this year.

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What to know about new PayPal stablecoin

This year, PayPal announced that it will remain in constant growth through the launch of its new stable cryptocurrency. This means that your currency will maintain parity with the US dollar and will always maintain the same value, making it a good source of investment. Stable cryptocurrencies or stablecoins are not subject to the volatility of other currencies, so they can be good for those starting out in the world of cryptocurrencies.

Investors use stable cryptocurrencies along with volatile ones, trading in a financial game that gives them good dividends. Likewise, they can be a good way to save in dollars and be in the cryptocurrency market at the same time. Now PayPal stablecoin is on the market, but this doesn’t just stay there. The company’s exploration within the cryptocurrency field is also intended for the performance of future roles within the broad world of blockchain.

The news about PayPal’s stable cryptocurrency…An accident?

Notably, the news about PayPal’s new stable cryptocurrency was an “accident”. It was all because a web developer named Steve Moser read the company’s code, finding the pertinent clues. It’s simple, since he noticed that PayPal was working on a new part of the code that will support a stable cryptocurrency. In addition, within the hints he also found a new PayPal logo indexed.

However, in response to this discovery, the company’s spokesmen pointed out that it was only an internal competition between PayPal’s blockchain programmers and nothing else. However, just three days later, one of the company’s officials confirmed the company’s intentions and said that more news would come in the coming weeks.

Similarly, the company’s senior vice president stressed that he is exploring a stablecoin and that they will work in collaboration with the relevant regulatory bodies. According to the information we have, the PayPal stablecoin would be called PayPal Coin. However, because the information has already come to light, developers could make changes to the logo design as well as its name.

PayPal has been buying different types of cryptocurrencies for months and getting more and more involved in this competitive market. It should be noted that the purchase of Ether, Bitcoin and Litecoin is only allowed within the United States, until now. It should be noted that this is not the first giant to venture to own its own cryptocurrency. A few months ago Facebook also noted that they are in the development of Diem.

What you should know about stablecoins

If you want to invest in cryptocurrencies and don’t know where to start, stablecoins are a good solution. Among the most popular you can find Theter or DAI and among its main features, we have to:

• They have greater stability compared to the most popular cryptocurrencies on the market. This is because they are backed by the dollar or the euro in most cases. They can also be associated with gold or some real estate.
• They serve as a good entry into the world of cryptocurrencies, if you are an inexperienced investor. Likewise, they serve as a refuge for the most experienced investors in the event of sudden drops in volatile cryptocurrencies.
• They are controlled through algorithms to be able to maintain the stability that characterize them. They are usually the best way to invest, be in the world of cryptocurrencies and at the same time have savings in dollars, gold or euros.
• Within the stable coins you can find those backed by FIAT money, by another cryptocurrency or by goods. There are also cryptocurrencies controlled exclusively by algorithms or smart contracts that regulate their price permanently.

Benefits of PayPal stablecoin

All of the above makes us wonder about the benefits of the new PayPal stablecoin. This could bring large numbers of customers, who are not yet using this service to receive payments for their work, for example. They will also be able to enter a competitive market, offering an alternative to the volatility of existing cryptocurrencies. There is still no great information about this stable cryptocurrency and in fact it is believed that the logo that was discovered within the code, will be changed.

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What NFTs are and why they’re trendsetting

First of all we have to go to the nature of the word “fungible”. This term applies when a good is interchangeable or not. For example, FIAT currencies and cryptocurrencies are all fungible goods. However, non-expendable assets are those that represent a single value and cannot be replaced or exchanged. Some assets of this style are works of art or plots of land. That’s when NFTs come into play, which are nothing more than non-fungible token assets within the blockchain. The fact that they are inside it makes their authenticity can be verified.

It is important to review the value of a non-fungible token. Each NFT will have the value assigned to it, based on the demand of its environment. As with cryptocurrencies, tokens can be bought and sold within the most reliable exchanges, such as Binance or eToro. In the same way, you can enter the different platforms, games and art galleries offered by the NFTs that are setting current trends, to win them through the activities they offer.

It is important to research before investing in NFTs

As with the world of cryptocurrencies, it is important to research before investing in the various NFTs available on the market. Some may be scams or frauds and it is best to learn about the most popular options. NFTs are selling for a lot of money, depending on the value they represent. Some could cost millions of dollars, with the promise that they will gain value in the future.

However, within the world of cryptocurrencies and NFTs nothing is certain. Volatility is something that characterizes these cryptocurrencies, so be careful with speculative bubbles. We recommend you do your own research to find NFTs with more liquidity in the future, so that you do not end up with a jpeg or a video game character that costs nothing later.

NFTs that are setting current trends

• CryptoPunks

  They were practically the first NFTs project when no one was drenched in the subject. In fact, they emerged in 2017 and 10,000 units were made. You can find Human Punks, Aliens, Apes and Zombies. The most expensive and complicated to get are the alien punks, since there are only 9 units. The latter have sold for more than $ 8 million in auctions.

• Axie Infinity

  This is one of the most popular NFTs games out there. Axies are creatures found on blockchains and you will need at least 3 Axies to start playing. To acquire one you will need to buy it and its value will depend on the attributes it has. The minimum per creature ranges from $200 to $ 300.

• Bored Apes

  These are NFTs used as an online avatar. They are animated apes that have different attributes and you can find them from $250,000 dollars. They are called Bored Apes and you can buy them with Ethereum. It should be noted that the owners of these characters can attend digital concerts in different parts of the city. Today there are also the Mutant Apes, which are the continuation of the original Bored Apes. The latter have been hoarded by people with a lot of money, so mutants would represent a more profitable option. There are a total of 20,000 mutant apes that can be found from 3,000 ETH.

• Metaverse Land (MANA)

  Here we can find two video games: Decentraland and The Sandbox. In these you can buy land and develop real estate in different parts of cities that exist in reality. The idea is that the land will gain more value as the months go by. In addition, the developers want to make the map of the whole world so that there are virtual terrains available in any place of your interest.

• Avalanche (AVAX)

  It is a highly successful digital project, where you can enter the platform and exchange smart contracts, as well as NFT services safely and quickly. The AVAX blockchain is among the first in the world and not only lends itself to video games but to DeFi and other services.

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One of the reasons why there are large losses in cryptocurrency scams is due to the little or no regulation they have. In addition, the worldwide interest they have caused scammers to design new ways to do fraud, phishing and other scams. Consumers who want to get rich in an almost “magical” way are the most vulnerable. Here are the most popular crypto asset scams.

List of the most popular crypto asset scams

Ponzi Scheme

In this case, scammers call on consumers to invest in a wonderful project, which will bring them great returns in a short time. It begins to build a network where many users circulate money in a nonexistent project, under the promise of becoming rich in record time. Data forgery is the order of the day and scammers have found in cryptocurrencies the ideal breeding ground for this type of fraudulent scheme.

What should you do to avoid it?: know that no type of cryptocurrency can guarantee you large returns, since all have a volatile character. That which seems “too good to be true” is because it is not.

Fake celebrity and his exciting tweet

This is one of the most popular crypto asset scams, as cyber criminals pose as a well-known celebrity. Then they create a profile on social networks where they make a tweet or an exciting post, where they encourage users to invest in a certain project, with the promise of obtaining a juicy return. The problem is that everything is fake: both the account and the project and they are actually depositing directly to the scammer.

What should you do to avoid it? go to the real source. If you see that a very famous celebrity is asking his followers to invest in a cryptocurrency project, look for various networks that certify it. Generally, by placing the information in Google you can know if it is a fake news or not.

The e-mail that will impersonate your identity

Another of the most popular crypto asset scams is the sending of emails or text messages where there is a certain link for a suspicious action. It may be:

• Confirm a suspicious login on another device, to protect your wallet or confirm your data.
• Claim a prize that certain exchange is doing to its followers.
• A celebrity offering miraculous returns.

However, when you click on the link you will find that scammers have taken over the data stored on your mobile device. Everything gets complicated if you keep passwords in browsers, for example.

What should you do to avoid it? never click on links sent to you by e-mail, if you are not sure who sends them. It doesn’t matter if the logo or page information comes out, it’s best to call directly on the phone or just ignore the message. Also, don’t believe in prizes or celebrities who have suddenly decided to offer money. Don’t store your passwords on your computer… Just in your head!

The cloned app

Many of the applications where cryptocurrencies are traded are cloned and uploaded to stores. By believing that this is the legitimate app, you will install malware on your device that will take over your identity… and your money.

What should you do to avoid it? avoid downloading suspicious applications on your phone and look for legitimate links on specialized cryptocurrency sites. Look at the names of web pages and applications, since they usually have some small detail that goes unnoticed, since users surf very quickly on social networks. For example, instead of binance.com could be bniance.com.

Exchange hacking

Finally, the most discouraging crypto asset scams are those that go to the heart of the exchange. Users stay “on foot” while the company promises to resolve. However, it is not known how long they will do it or whether they will achieve it since most of the time it is millions of dollars.

What should you do to avoid it? look for projects that stand out for their safety and that have average popularity. While it is true that some “ghost” projects can give sudden results, this is not the rule. Avoid falling into collective traps.

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Everything you need to know about NFT

Technologically, NFTs have a close relationship with cryptocurrencies. This is because they are units of value assigned to a particular non-expendable property. However, they are not the same, since Bitcoin, when worth a certain amount of dollars (for example), is transformed into a non – fungible property. On the other hand, one NFT cannot be exchanged for another or modified on the basis of something of equal value. No two tokens are the same, there may be copies, but never replacing the original.

The best explanation for you to understand what NFT means is a painting in art galleries. In fact, this world is being positively influenced by the NFT, as it fell right under their thumb. Those who are dedicated to illustration can be benefited by the NFT, placing the value they want to their original works. It should be noted that until recently, someone paid 260 thousand Euros for a drawing… From a stone!

Like most cryptocurrencies, NFTs work through blockchain technology. It is a network of computers that use cryptography and a system of blocks or nodes. It is a giant ledger where transactions are irreversibly recorded and data cannot be modified in any way.

In the case of NFTs, they are assigned a certificate of authenticity, with metadata that is also impossible to modify. Likewise, all transactions made with that token are recorded, in order to be able to track it. For example, if you buy content associated with an NFT, you’ll always be able to know what value it had the first time it was sold, as well as every other time before it came to you.

How to trade NFTs

As complex as it sounds, operating with NFTs is not a difficult task. Currently there are several platforms that offer the possibility to create a user, associate a cryptocurrency wallet and proceed to create the Non-Fungible Tokens of your preference. It should be noted that according to the page and the type of good you want to sell, doing so can cost between $1 and $ 100 or more. It all depends on the blockchain to which the token is associated. Among the best pages are:

• OpenSea: it is the most popular in current times and offers a wide variety of non-expendable tokens. You can find artwork, cards, illustrations or domain names. To use this platform you will simply need to have an Ethereum wallet.
• Foundation: it is a platform that allows you to operate with NFTs and that is focused on creators and collectors of digital art. Artists receive 85% of the final price at which they sell and since its launch this platform has earned more than $40 million dollars.
• TikTok TopMoments: now TikTok users can market videos that have been viral or have set trends in the world. In the same way, they can associate with various digital artists and sell both limited edition and unique tokens.
• Valuables: this platform is exclusively focused on marketing tweet. Notably, the first tweet in history was auctioned at $2.9 million. To use this platform, you will need to have the Ethereum wallet, MetaMask.

Is it worth buying NFTs?

Why if Non-Expendable Tokens are not so easy to exchange, have they caused so much stir? The answer is simple; because of the value they could have in the future. That is, if you buy a drawing in 5.000 Euros, you can probably sell it at a higher value as the years go by. However, is this a big risk? Is it worth buying NFTs? There is still no concrete answer.

Many people are focusing on buying NFTs and making transactions that involve a lot of money. However, just as with cryptocurrencies, it is necessary to have a little prudence within this class of investments.

Some experts point out that NFTs may be a speculative bubble and may end up completely undervalued in the not-so-near future. Similarly, they point out that since they do not have legal authority to regulate them, it is very difficult to appeal to the justice when it comes to plagiarism or theft. In fact, there could not be missing the phishing scams, where fake works are sold under the name of a renowned artist.

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The cryptocurrency industry and its future

What started in 2009 as a virtual game has now become a worldwide form of payment. Almost everyone knows that there are digital currencies called cryptocurrencies. In fact, many celebrities, including the mayor of New York, have decided to start collecting their salary in this type of money. It should be noted that 2021 has been one of the best years for the development of digital currencies and that COVID-19, far from being a hindrance, helped its progress.

In addition, there has been historic growth in decentralized finance. Let us remember that metaversus have appeared, as well as NFTs. The latter consist of non-fungible tokens, which have transformed the way we perceive video games and virtual art galleries. In fact, many gamers are making a monthly salary without leaving their homes, just having fun on their couch.

Meanwhile, the “meme” coins shot up their popularity. This was due, among other things, to Elon Musk noting in a statement that he stopped accepting Bitcoins, due to the amount of energy his mining was spending. Thus, Dogecoin and Shiba Inu began to grow exponentially. According to all these facts, the future of the cryptocurrency industry looks bright.

Competitions between cryptocurrencies and metaversus

Last year, the competition between cryptocurrencies and metaversus was wild. Solana, Avalanche and Algorand began to stand out for their speed and scalability, competing with each other. Likewise, investors have placed more than 25 billion euros in different Blockchain companies. Some experts point out that we are one step away from the so-called “Web 3.0 Era”.

However, not everything is rose for the world of decentralized currencies. Many countries have taken action against their use, plus NFT token scams have increased due to prevailing mass hysteria. The United States, Russia and China are the countries that are putting regulations on crypto assets. Therefore, many believe that these will only be a passing fad and that FIAT currencies cannot be replaced.

How to invest in cryptocurrencies according to experts

But how to invest in cryptocurrencies according to experts? Who to listen to? If it’s a game… Will it be a waste to invest money? Will it be a once-in-a-lifetime opportunity? Industry analysts say that in 2022 cryptocurrencies will continue to grow steadily. More and more businesses and companies accept cryptocurrencies as a form of payment, develop tokens within blockchains or incorporate this type of currency in some way in their day to day.

You have several ways to invest in cryptocurrencies according to experts:

Exchanging FIAT currencies through exchanges for cryptocurrencies that could have better forecasts for 2022. Some of these are Bitcoin, Ethereum, Cardano, Solana, Binance, Dogecoin, Shiba Inu, etc.

• Placing cryptocurrencies as a form of payment for your services.
• Developing decentralized applications on smart contract platforms.
• Selling NFTs through the design of your own video game or as an artist on a related page.
• Buying NFTs that could increase their value in the medium and long term to sell them later.

It’s important to be careful about the kind of crypto assets you’ll buy. Remember that there are more than 15,000 cryptocurrencies on the market today. According to some analysts, most of these cryptocurrencies will either end up merged with the larger ones or simply disappear. Therefore, we recommend you to review the most important cryptocurrencies and NFTs currently, so that you do not put your money “on deaf ears”.

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Advantages of investing in cryptocurrencies in 2022

Why invest in cryptocurrencies? What do they consist of and what are their benefits? Perhaps some friends have pointed out to you the advantages of these digital assets, telling you that you can not stop logging in. Others comment that this kind of money will leave aside the traditional means, due to its great speed in transactions, as well as the advantages they offer. However, let’s look at what it is:

• Cryptocurrencies were born in 2009 in the wake of the emergence of Bitcoin and at first are considered “a joke”. This is because they are digital money, without any physical backing, such as the dollar, the euro or gold, for example. However, as the years have passed, Bitcoin gained great value and more than 10 thousand parallel cryptocurrencies emerged that compete today.
• They are a good form of investment, but not in all cases. This is because cryptocurrencies are characterized by high volatility and overnight value change. Therefore, it is not convenient to place all your assets in cryptocurrencies, since you can generate irreversible losses. It is convenient to invest a little of your money in different cryptocurrencies, and go making movements based on the forecasts.
• Cryptocurrencies are mostly decentralized. This means that they do not belong to any governmental entity that controls them. No corporation is behind them, since they are part of the blockchain. The latter is a technology that offers security, anonymity and speed when making transactions internationally.

Importantly, cryptocurrencies are not a game of chance. While it is true, some people have managed to have large amounts of money from one moment to the next, cryptocurrencies need to be treated seriously. It is convenient to study the movements, make forecasts, review charts and know about investments and stocks before proceeding to have cryptocurrencies.

Which cryptocurrencies to invest in in 2022

To invest in cryptocurrencies in 2022 it is necessary to analyze those that are on the rise, but also those that look promising. Many times, the currencies that are emerging, are usually left behind, as if it were a horse race. Therefore, we recommend:

• Bitcoin

  The first of the cryptocurrencies continues to be one of the best investment options. Despite all the forecasts that could be made regarding its fall, Bitcoin continues to be the leader of cryptocurrencies and the most accepted when it comes to making payments for products and services around the world.

• Ethereum

  Continues to follow the second most used option worldwide after Bitcoin. However, it should be noted that it is an excellent alternative, not only because of its value, but also because of its technology. Almost all alternative cryptocurrencies that are emerging rankins currently use Ethereum technology as a basis. It is estimated that this cryptocurrency grew by 230% in 2021.

• Curve DAO

  One of the cryptocurrencies that is created on the Ethereum blockchain and that also offers the possibility of a highly secure exchange. Within this exchange you can find the most important cryptocurrencies of today. It also has a basic and intuitive interface, ideal for novice users. DAO is one of the few cryptocurrencies that had a growth in the overall fall of the end of 2021.

• Algorand

  This ambitious project uses PoS and smart contracts, so it does not require traditional mining. It is one of the fastest recovering cryptocurrencies and this has been seen after the December 2021 crash. In addition, it is a currency that offers “green” alternatives, which is why many are adopting it. Let us remember that traditional mining directly threatens the environment, due to the large amounts of electrical energy it requires.

• Cosmos ATOM

  This project seeks to integrate all blockchains with each other, allowing a speed never before seen in the transactions made. ATOM is estimated to have grown by up to 600% in 2021, making it one of the best investment options this year. In addition, many of the applications and online services are related to this project day after day.

Among the good investment options are also Binance Coin, Bitcoin Cash, Chainlink, DAI, Solana and Polkadot. Ripple and Litecoin remain a good option, as well as Avalanche and NEO. But it is important that you analyze which projects are best suited to what you are looking for.

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