How to donate Cryptocurrencies and who accepts it

As more and more people hold their wealth in cryptocurrencies, many are looking for ways to do good with their earnings. How to support philanthropic efforts with cryptocurrency.

While some people devote their lives to accumulating cryptocurrencies in hopes that the

“number” will keep increasing forever, others are eager to distribute the wealth to charity. Consequently, many non-governmental organizations (NGOs) and charities today are more than happy to accept cryptocurrencies from the nouveau riche and distribute them to those who need them, with the mantra “WAGMI” or “we’ll all make it” is so central to crypto.

Many of these organizations have stuck their heads over the parapets in response to the Ukraine crisis and millions of dollars in the cryptocurrency have been donated to Ukraine. In fact, Ukraine itself launched crypto wallets to receive donations and use them for supplies. But how do donate cryptocurrencies and which NGOs accept them?

How to donate crypto

You must own cryptocurrencies before you can donate them. You can also get crypto from a decentralized finance protocol (Defi). For example, you could lend the earned crypto on the decentralized lending platform Aave and donate the interest earned.

Why donate crypto

A lot of cryptos are notorious for their volatility, and in case you need to switch the cost you preserve nowadays you are probably higher off donating cash – simply in case, the marketplace crashes by the point your beneficiary desires to use your crypto to shop for stuff.

However, a few charities welcome fee volatility, thinking about it in a manner to boom the cost of donations over time. For example, a non-income is referred to as charity: water is maintaining cryptocurrency donations it raised in 2021 till at the least 2025 in a charitable Bitcoin (BTC) trust, for instance. UNICEF’s cryptocurrency fund operates in a comparable manner.

Some of the fundraisings take place within the crypto-economy and uses decentralized fundraising methods, such as B. Decentralized Autonomous Organizations (DAOs). Endaoment, for example, is a charity that intends to eventually become a decentralized Ethereum-based philanthropic institution. It is also common for a non-fungible token (NFT) projects to provide a budget for charitable donations. Psychedelics Anonymous is an NFT project that donates money to an organization that provides psychedelics therapy.

Who accepts crypto

Dedicated Crypto NGOs

One of the maximum distinguished manufacturers for crypto giving is The Giving Block, a corporation that makes it clean for nonprofits to fundraise crypto. It affords offerings to nonprofits centered on particular causes, just like the surroundings or water quality, and is likewise aligned with an effective index budget that, in a stroke of utilitarianism, disburses your budget to tasks they’ve decided will relieve the maximum suffering. Crypto for Charity additionally allows crypto donations to extra than 55,000 non-profits, and Daffy helps extra than 1. five million organizations.

How to diversify your crypto portfolio & why it is important

Bitcoin and altcoins like Ethereum, Solana, and Polkadot are among the top-rated portfolio items in investors’ portfolios. It is also worth noting that virtual digital assets were among the top-performing assets in 2021. As more traders and investors enter the cryptocurrency market to take advantage of the growth of these crypto tokens, this crypto space has the potential for mass development and more spacious long-term adoption.

Six best fundamentals of cryptocurrency investing strategy

Now that we have taken a walk down the basics of cryptocurrency investing and how it works, it is very consequential to decide on a fundamental strategy before diving into the new digital asset! 

Choose the right mix of storage wallets:- to keep your tokens 100 percent secure, split your tokens between hot wallets and cold wallets.

Liquidate your assets:- As volatile as the cryptocurrency markets are, cryptocurrency experts often mention keeping tabs on the cryptocurrency market to analyze the market trends and liquidate your assets accordingly.

Track Volatility:- As plenty, because the risky marketplace makes methods for liquidating your profits, it additionally acts as a pathway for extra researched buying! The up and down withinside the crypto marketplace is a healthful signal and the ‘dips’ are frequently called the right time to collect high-stop tokens.

Make sure to check if you can afford to lose your investment:- Exploiting the volatility of the cryptocurrency market is smart, but affordability is also crucial for any trader. Not wanting to bear the potential total loss of your investment means you cannot afford the risk of investing the amount you are considering.

Diversification:- While your interest is in investing in the new asset class, it’s important to ensure you buy small chunks of a few tokens to avoid throwing your entire budget into one asset.

Dollar-cost averaging:- With this method, you put small portions of your total budget into tokens of your choice, rather than spending your entire budget at once.

How cryptocurrency investing works

If you are new to crypto, the above section will be even easier to understand once you take note of how cryptocurrency investing works. We have set together a list of tips for you!

  • Select a cryptocurrency investing platform of your choice
  • Create an account
  • Transfer fiat funds to your cryptocurrency exchange wallet
  • Select the crypto assets that you want to add to your portfolio
  • Complete your transaction
  • Store your crypto in the digital wallet

Why should you diversify your crypto portfolio?

The main goal of diversifying one’s crypto portfolio remains the same as why one should diversify the portfolio as a whole. While it’s all but impossible to draw a preliminary conclusion about the cryptocurrency market, making a wise decision to invest in multiple cryptocurrencies and build a diversified cryptocurrency portfolio has you poised for impact.

The importance of cryptocurrency diversification is evident as it reduces the risk of permanent losses in a scenario where one of the assets within the cryptocurrency portfolio may collapse but the other assets may hold their value or reach an all-time high or gain. . In general, the different assets together make up the portfolio better.

DIVERSIFYING CRYPTO PORTFOLIO WITHIN DIFFERENT BLOCKCHAIN PROTOCOLS

Diversifying a portfolio is basically a big meal with all its protein. While diversification is mentioned, it is important to remember that the total amount you are going to bet should be the amount at which you are comfortable losing. Cryptocurrency portfolio diversification is an act of investing your money in multiple cryptocurrency projects, rather than putting all budgeted amounts into a single asset.

Smart techniques to survive a crypto bear market

It’s natural to feel depressed and anxious when things aren’t going the way you want them to. Especially when it comes to your hard-earned money. Investors, especially those who have just accessed an investment tool, are prone to this feeling of anxiety. Investment vehicles such as cryptocurrencies, where the market is extremely volatile, make new or old investors even more anxious and stressed. A fall in the price of an asset class by at least 20% from recent all-time highs is commonly referred to as a bear market. It’s no surprise to longtime investors that bear markets are a given. Any asset class that goes up will kick back and fall back into their support zones from time to time. However, rather than panicking and anticipating such market cycles, one should strategically plan and seize such opportunities as these are also the times when one gets a slice of the pie at the cost of bread.

4 WAYS TO SURVIVE CRYPTO BEAR MARKET

  1. INVEST ONLY WHAT YOU CAN AFFORD TO LOSE
    It’s important to have a good idea of ​​your risk appetite before you start investing in any asset class. This becomes even more important with volatile asset classes like cryptocurrencies. Investing is good for long-term wealth accumulation, but it’s important to invest wisely. Nobody wants to become the biggest cryptocurrency investor while sleeping on the streets. Only invest what you can afford to lose. It should always be remembered that bear markets and minor corrections can be destructive.
  2. DIVERSIFY
    Diversification is the key factor in combating volatility. Smart investor should spread their portfolio across multiple crypto assets. The process of portfolio diversification between different crypto assets depends solely on the risk appetite of the investor. Every investor’s goals and requirements are different. With an appropriate asset allocation strategy, investors can easily avoid potential negative impacts on their wealth. All you have to do is don’t put all your eggs in one basket.
  3. REBALANCE CRYPTO PORTFOLIO
    Over the long haul, your crypto resources can appreciate and devalue and it can happen more rapidly than your money or security possessions. This could push your portfolio askew. Notwithstanding, this ought not to be viewed as affliction. Financial backers should consider it as an open door to re-address the distinctive characteristics that have happened. If certain crypto resources take up a huge piece of your ventures, you should seriously think about selling a piece of it and moving the cash to cash reciprocals or could put something very similar into other additional promising resources subsequent to addressing any outstanding concerns or issues over that resource.

Bear advertises frequently give wise speculation and valuable open doors to financial backers. A portion of the normal terms you would often run over as for your crypto resources during a bear market is battered, undervalued, or pounded. Esteem financial backers frequently consider the bear market as a purchasing opportunity since valuations of good cryptos get pounded bringing down alongside poor cryptos. Esteem financial backers frequently develop their situation in their most loved crypto resource during the tough situations on the lookout and trust that past times will return.
4. DO NOT FREAK OUT
The dow climbs a mass of stress is an extremely familiar adage in divider road. As indicated by this precept, all speculation resources keep on moving up or ascend in esteem notwithstanding financial issues, normal catastrophes, or different elements. Financial backers should continuously keep their feelings separate from their speculation choices. One ought to continuously take their speculation choices carefully and soundly. Never become unfortunate or restless about a specific circumstance and let it cloud your normal judgment.

During bear showcases, the bulls have no possibility against the bears. Take no abrupt actions and remain mentally collected, this will just save you from turning into a bear lunch. This is when HODLing becomes an integral factor. Assuming that you have done your exploration and put stock in the drawn-out possibilities of the resource, HODLing can likewise help you through the stage. It’s only that before you take any choice simply have your essentials clear about the certain crypto resource and take a choice likewise.

What Happens to Your Crypto When You Die?

We know this is a morbid subject,  but it’s important to plan for all eventualities when investing in cryptocurrencies.

If you have any amount of cryptocurrency, chances are you’ve given some thought to its security. After all, what’s the use of investing your money in assets if other people can easily steal it?

But there’s another aspect of cryptographic security that’s just as important and often overlooked by novice and experienced users alike: what happens to your crypto after you die?

This may seem like an obvious consideration, but according to Glass node data from late 2020, it is estimated that more than 10% of the circulating supply of Bitcoin is lost forever. Of course, it’s impossible to know exactly how these coins got lost, but we can assume that at least some of them are the result of people not taking the right actions after their death.

The security trade-off and importance of selecting the right person

Before we discuss the steps you must take to adequately protect your assets, it is important to first understand the significant security tradeoff that comes with letting one or more other people know where and how to access your cryptocurrency-based assets.

Choosing the right person to give your crypto assets to is a lot more complex than it seems. It’s not just about trust, it’s also about how technologically savvy that particular person or group of people is.

For example, A has five bitcoins (BTC) that he wants to leave to his wife B if he dies. However, B  has no idea how to use a hardware wallet or exchange. This means finding or hiring someone to help you access the funds, which can pose a significant security risk, or trying to learn how to use these platforms and devices. Again, this poses a security risk considering how easy it is to send crypto to the wrong address, break devices, or withdraw assets with the wrong token standards.

What steps all crypto users should take

Once you have decided who you will choose as the beneficiary of your crypto funds, the next step is to outline the process for locating and claiming those funds.

Location of your funds

The first piece of information to include in your instructions is where to find your assets. This includes the physical location of any hardware wallets you own, as well as the active wallets where you have crypto stored.

If your assets are in multiple locations,  For example, in decentralized finance (Defi) liquidity pools, centralized exchanges, and non-fungible token (NFT) markets, it might be a good idea to consolidate them into crypto wallets that support multiple types of assets. MetaMask is an example of a service that allows you to store both fungible and non-fungible tokens in a single, easily accessible wallet.

Passwords, private keys and backup codes

Second, you must carefully list all the passwords, private keys, and seed phrases for crypto wallets, email accounts, and exchange accounts that are required to access your funds.

If you have two-factor authentication (2FA) enabled, you will also need to provide the location and password of the device on which the app is stored, or a list of unique 2FA security codes.

Technical advice

You may want to include steps on how you want your beneficiary to deal with or liquidate your assets. This could include instructions on which exchange is best to use or a quick guide on how to set up your own wallet and transfer the funds.

How to copy down your sensitive cryptographic information

Making copies of your private cryptographic information does not mean writing your opening phrases on a sticky note and sticking it on the fridge or emailing the information.

This information must be copied on paper and duplicated multiple times. Ideally, each copy should be stored in different locations to eliminate single sources of error. For example, if you only keep a  paper copy on a bedside table and the house burns down, your beneficiary would never be able to access the funds; This may sound a bit far-fetched, but it can happen.

How you can purchase a house using a crypto-backed loan

Digital assets-backed mortgages let house customers utilize their crypto holdings as collateral.

The latest crypto boom has made fortunes for many, and some of them are looking to purchase real estate with their new riches.

There are plenty of examples of real estate developers who are keen to accept cryptocurrency as payment, but selling their digital investments is a no-go for confident crypto investors.

How crypto-backed mortgages work

At a high level, crypto mortgages work similarly to old-fashioned mortgages. The only difference is that the collateral is holdings of digital assets.

When you take out a crypto mortgage, the lender first examines your crypto holdings to estimate how much you can borrow. This is the most essential factor in the decision, as crypto lenders won’t necessarily ask for credit histories and payslips, although it doesn’t hurt to have them ready.

After the lender decides on the terms (how much you can borrow and at what annual interest rate), you need to pledge an amount of your crypto to the lender as collateral for the loan. This usually corresponds to 100% of the loan.

Where can you get a crypto mortgage?

Crypto mortgages are still a fairly new phenomenon, but there is a growing number of lenders that are allowing home buyers to tap into their digital wealth. All effective annual rates are current at the time this report is prepared.

  • USDC. Homes offers crypto mortgages for those looking to buy real estate in Texas. The lender accepts Bitcoin, Ether, USDC, and other cryptocurrencies as collateral to borrow up to €4 million at an APR of 5.5% to 7.5%. The down payment for the crypto mortgage is pegged, allowing borrowers to earn interest on the collateral that offsets a portion of the monthly mortgage payment.
  • Figure, A North Carolina-based lender has opened a crypto home loan waiting list of up to €18 million. It plans to accept bitcoin and ether as collateral and offer 30-year fixed-rate mortgages with monthly collateral adjustments for just 6% APR.

Who are crypto mortgages for? 

Right now, crypto-backed mortgages aren’t the ideal way to buy a new home for most people.

But it can be an interesting option for those homebuyers who have mainly accumulated their wealth in cryptocurrencies and do not want to sell their cryptocurrencies investments.

Pros of crypto mortgages

If you are one of them, there are some perks of leveraging your cryptocurrency holdings for a loan:

  • First of all, you don’t have to retire your cryptocurrency investments to buy a home with a cryptocurrency mortgage. This is important as capital gains tax would apply if you sold your investments.
  • Buying real estate in the US may be easier for foreigners since crypto mortgage providers generally do not require a credit score or social security number.
  • For someone who believes their cryptocurrency holdings will increase more than the lending rate over time.

Risks and downsides of crypto mortgages

  • The reason a crypto mortgage isn’t right for most people is simple: Crypto’s cost is highly volatile, making them high-risk assets.
  • If you take out a loan on top of your crypto assets, the risks are compounding. When cryptocurrency markets crash, they bring down the value of the collateral, too.
  • When the price of the digital investments you have put up as collateral drops, the lender may need you to add more of your investments to the collateral – akin to a margin call in traditional markets. This way, your capital is closed and you cannot trade it.

Best six Crypto Passive Income Generators for 2022

Earning interest on your idle crypto investments is a great way to make your money work for you. These are six of the best ways to earn passive income from cryptocurrencies in 2022.

Passive income is money generated by businesses in which an individual is not actively involved. In most cases, all you have to do is invest your money or digital investment in a specific crypto investment strategy or platform and watch it generate profits. In some cases,  earnings are fixed and predictable. For others, multiple factors may come into play that is beyond your control.

Ways to earn passive crypto income

Proof-of-stake (PoS) staking

Proof of stake is a type of Blockchain consensus tool designed to allow distributed network participants to agree on joining new data into the Blockchain. Note that Blockchains enable open, decentralized networks in which participants contribute to the governance and processes involved in validating transactions. This is crucial as such a community-centric approach eliminates the need for central authorities such as banks. In most cases, Blockchains randomly select participants, elevate them to validator status and reward them for their efforts.

Interest-bearing digital assets accounts

Holders can use interest-bearing crypto accounts to earn fixed interest on their idle digital assets. Think of it as putting money into a bank account that earns interest. The only difference is that this benefit only supports cryptocurrency deposits. Instead of holding digital assets in your wallets, you can deposit them into these accounts and receive income based on predefined interest rates on a daily, weekly, monthly, or yearly basis.

Lending

The lending service has become one of the most popular crypto services in both the centralized and decentralized segments of the crypto industry. If you are an investor, you can lend your digital assets to borrowers and earn interest. These are the four main strategies you can use:

Peer-to-peer lending: The platforms that offer such services enable systems that allow users to set their terms and determine the amount they want to lend and the interest they want to earn on the loans. The platform connects lenders with borrowers, much like P2P (peer-to-peer) trading platforms connect buyers and sellers.

Centralized lending: In this method, you rely solely on the lending infrastructure of third groups. Here, the interest cost is fixed, and so are the lock-up periods. Like P2P lending, you have to transfer your cryptocurrency to the lending platform to begin earning interest.

Decentralized or Defi lending: This strategy allows utilizing to execute lending services directly on the Blockchain. Unlike the P2P and centralized lending techniques, there are no intermediaries involved in Defi lending. 

Margin lending: Finally, you could lend your crypto assets to traders interested in using the borrowed funds to trade. These traders build their trading positions with borrowed money and repay the loans with interest.

Cloud mining

In contrast to the proof-of-stake mechanism discussed above, some Blockchains, including Bitcoin(BTC), opt for a more computationally intensive approach, where users must prove the legitimacy of their claim to become validators (more commonly called miners) by competing against each other, to solve highly complex math puzzles. This method is called crypto mining. 

Dividend-earning tokens

Certain tokens suggest holders a fraction of the revenue of the company that issued them. All you require to do is hold the token, and you are automatically eligible to receive a certain percentage of the company’s earnings. The number of tokens you own determines the share of the earnings you would receive.

Yield farming

Yield farming is another decentralized or Defi method to generate passive cryptocurrency income. This is made possible by the dynamic operation of decentralized exchanges, which are basically trading platforms where users rely on a mixture of smart contracts (self-executing, programmable computer contracts) and investors to deliver the necessary liquidity to execute trades to obtain. Instead, they trade against funds deposited by investors known as liquidity providers in unique smart contracts called liquidity pools. The liquidity providers, in turn,  receive a prorated amount of trading fees from the pool.

Crypto Investing Strategy How to Set Smart Crypto Investment Goals

Crypto Investing Strategy How to Set Smart Crypto Investment Goals

Investing is a consequential life decision and truly a long venture. It essentially means laying out your investment in the market to work and develop returns. Sounds interesting? Well, regular investing is a great path to follow through with your financial plans. While you may already have different investments available, crypto-assets currently have been garnering all the rage. They are unique and exciting, with experts indicating profitable returns. As they increase skyward, now is absolutely the best time to build your crypto portfolio!

HOW TO SET ‘SMART’ Crypto Investment GOALS

Specific – As with any other asset, it is important to do research when investing in cryptocurrency. Please indicate whether you intend to make a short-term or long-term crypto investment. If you want to build a diversified and enriched crypto portfolio, experts recommend the long-term approach with regular investment. For immediate financial goals, the short-term route is probably more rewarding. Accurately assess your risk-reward potential to increase Crypto investment returns. Research and regular review of holdings are a great way to generate exceptional value.

Measurable – Although you have decided to investing in cryptocurrency, you may be at a loss as to how much to invest. Don’t stress! Let us help you find the best course of action in the crypto market that is prone to wild swings. The crypto space is speculative and you need to understand the potential risk. As with any volatile market, you should only invest what you can afford to lose. Set aside a percentage based on the total amount you have available to invest to convert Into crypto investment.

Actionable – As we continue to emphasize, do your research when investing in cryptocurrency. The class of crypto assets is constantly evolving, which is why studying the available resources is very important. Thankfully, the crypto space continues to be awash with informative details from time to time. Take action by constantly doing your checks and research. Get involved in exclusive crypto communities as they will provide you with the right information. Evaluate various elements such as the purpose of the coin,  the makers of the and the white paper. The white paper is your sacramental document in exploring crypto as it informs you of all the details of the assets. The key is to stay on top of your research game when setting your Crypto Investing Strategy and goals.

Realistic – Professional crypto investors rely heavily on realistic indicators when deciding on an asset. This involves performing technical analysis using mathematical indicators. The process helps a lot in predicting future trends. Use powerful tools like the candlestick chart. The chart displays details relevant to the data pointers at that point in time. Similarly, other analysis tools offer excellent insights with high-level details on weather and price patterns. Realistic cryptoanalysis is a very important aspect that investors consider before setting  Crypto Investing Strategy and goals.
Time-based –Time plays a crucial role in determining investment returns. Experts recommend maintaining a constant output for investment.

How to Invest in crypto assets as a beginner

BEGINNER GUIDE TO STEPPING INTO THE WORLD OF CRYPTO INVESTMENT

The times are changing and evidently for the better. Consider the evolving dynamics within the economic space – Today, a growing number of millennials are marking adulthood with a sturdy footing in the asset market. The generation is conscious of the importance of increasing their funds. It makes them more confident to establish their financial future and attain managing their money.

HIGHER ADOPTION OF CRYPTOS BY YOUNG PROFESSIONALS

Cryptocurrency jargon has become part of the popular lingo among young professionals. 

 All youngsters are keenly drawn to this new form of asset. Experts regard this shift in interest to more factors than just one. To begin with, technology has been a huge influence on the youth across the world. Investing in cryptocurrency investments is backed by Blockchain technology and this has led youngsters to give it a deeper look. The investment class also came into being during the past recent years and the generation has closely watched its performance. The decentralized nature of the cryptocurrency investing space is another alluring facet. There is an air of doubt in the traditional banking system and cryptocurrency comes as a relief. Lastly, the younger generation fears skipping out on the potential returns that crypto investments could earn them. 

A KEY TO FINDING RELIABLE INFORMATION

There is a lot of information available today, but it is also cluttered. There is no wonder that fewer than 50% of Gen Z adults feel confident about their financial knowledge. In order to absorb investment-related information, most people use social media platforms such as YouTube, Instagram, Podcasts, and news articles. This is especially true in the ever-evolving crypto investing space.

HOW TO START INVESTING IN CRYPTO ASSETS

As with every form of asset, it is important to protect your resources effectively. This is especially vital for cryptocurrency investments as the space is not yet backed by regulatory measures. Read on to know effective methods to store your cryptocurrency investment.

  • Storage on the Exchange -Crypto assets can be stored on the crypto wallet that is part of the exchange. It is important to note that the protection of your assets is a collective responsibility. The exchange ensures full security, but you must also take the necessary precautions to protect your investments. This could include setting strong passwords and keeping your data confidential.
  • Hot wallets –  Crypto wallets are stored online and powered by internet-connected devices such as tablets, computers, or phones. Although this form of storage is convenient, it also carries a higher risk due to online exposure. Assets are more susceptible to online fraud and theft. 
  • Cold wallets-A cold crypto wallet is a hardware device that is used to store your assets. These devices include hard drives and USB flash drives. The Internet is not connected to this type of storage, which makes it relatively safe. It is, however, important to maintain certain safety measures by protecting the device from damage and setting up strong passwords to protect access. 

What Are Ethereum(ETH) Gas Fees?

A gas fee is something all users must pay in order to complete any function of the Ethereum(ETH) Blockchain.

What is Gas?

Gas is the term for the amount of Ether (ETH), Ethereum’s native cryptocurrency, required by the network for a user to interact with the web. These fees are utilized to compensate Ethereum (ETH)miners for the energy required to verify a transaction and to deliver a layer of security to the Ethereum(ETH)network by creating it too expensive for malicious users to spam the web.

Despite being an effective way to encourage miners to keep verifying transactions and maintaining network security, gas fees are still the most hated part of Ethereum among all users. People hate gas tariffs not only because of general contempt but also because they can get expensive when the grid is congested.

How are Gas Fees Calculated?

In order to get an understanding of why gas prices cost so much and how you can save on them, it’s essential to understand how they are calculated.

Because prices on Ethereum(ETH) are usually much lower than 1 ETH (although sometimes it doesn’t feel like it), Ethereum(ETH) employs a metric scheme of denominated branches called “Wei,” where 1  Ethereum(ETH) is equal to 1 quintillion wei. (A quintillion is a number with 18 zeros after it.) One of the most common wei denominations, and the one utilized to represent gas fees, is gigawei (gwei), or 1 billion wei.

Total Fee = Gas unit (limits) * (Base fee + Tip)

Gas units (limits): This refers to the highest amount of gas you are willing to spend on a transaction. Although you can adjust the cost of your transaction, it’s important to do so carefully. This is because different types of interactions with the Ethereum blockchain require different amounts of gas to complete.

Base fee: This refers to the minimum amount of gas required to enumerate a transaction on the Ethereum(ETH) Blockchain. The amount of gas required for a base rate is determined by the demand for a transaction to be included, regardless of the type of transaction. Tariffs are a demand factor, they dynamically adjust based on the number of users interacting with the network at any given time.

Tips: Also known as a priority price, tips are an additional cost made to have your transaction completed faster. This fee is better known as a tip because it delivers an economic incentive for Ethereum(ETH) miners to verify your transaction before others. When a miner confirms a transaction with a priority fee connected, they accept that fee as a tip for doing so. Because miners are able to see what transactions include tips, they will prioritize conducting a transaction with the highest tips connected to make the most money they can.

Why gas fees prices so much

With an understanding of how total gas costs are calculated, we can get a better opinion of why gas fees cost so much. Mainly, the two largest factors that have caused gas fees to soar recently are:

  • Gas fees denomination in gwei.
  • Ethereum’s variable total fee formula.

Gas fees cost more because ETH prices more

The first main reason why gas fees cost more is simply that ETH costs more. Keep in mind that gas fees are in Gwei, which is another way of representing an ETH amount. The main catalyst for this growing demand is booming decentralized finance. (DeFi) and NFTs, which continue to attract new users to the Ethereum ecosystem.

What Is Crypto Custody?

There is no shortage of horror stories about stolen funds, hacks, and lost passwords in the cryptocurrency industry.

Crypto custody is a term used to describe the process of protecting assets from theft. Custodians (third parties who can be hired to look after your crypto for you) act as a safeguard for your money, be it cash, securities, bullion, or virtual assets. 

Crypto custody works a little differently. Digital asset custodians don’t technically store any of the assets, as all data and transactions exist on a public ledger called the blockchain. Instead,  they protect users’ private keys, the vital part of a crypto wallet that grants access to the funds within.

How does crypto custody work?

Simply put, crypto custody means securing the personal key that verifies you own the funds held within your crypto wallet. In traditional banking, all custodians are financial institutions, as needed by law. With cryptocurrencies, however, holders have the chance to become their own custodians. Utilizing gold bars as an analogy, you can either reserve them under your bed to keep them secure yourself or pay a third-party custodian to lock them in a locker protected by security guards.

There are main two types of crypto custody for you to know.

Self-custody

As mentioned, self-custody is when you personally hold the private key of your own wallet. This means you are the only one who can verify ownership of your funds and access your holdings. But with great power comes great responsibility. Being your own custodian means being in full control of your wallet, but it also means you bear all the risks too. If you lose access to your physical device (cold wallet) or forget the private key, your crypto is most likely lost forever.

Third-party custody

Those who don’t want to take on the responsibility of managing their own accounts, or who find the technology too intimidating, should consider using a third-party provider. These are registered and regulated financial institutions that have obtained a state or national license to operate. as supervisor.

This type of crypto custodian securely stores customers’ private keys in their wallets, ensuring the security of their holdings. From a user perspective, it is comparable to a checking account at a bank. register to open an account, you must undergo know-your-client and anti-money laundering checks. If you store cryptocurrency with a third-party custodian, you are expected to perform the same type of verification to ensure your cryptocurrency was not obtained illegally.

How much does third-party crypto custody cost?

As with any type of service, providers often charge a variety of fees to protect your money, just like regular banks do if you have a checking or savings account. Depositing and withdrawing cryptocurrencies into your account can also incur fees. These costs usually fall into one of the following three types

  • Custody fee: Custodians ask for a certain percentage point based on the value of the investments under custody every year. This is usually less than 1%.
  • Setup fee: A flat rate for opening a custodial account. It’s worth noting some cryptocurrency custodians waive the fee and let users open an account for free.
  • Withdrawal fee: You might pay a fee every time you take cryptocurrencies out of your account. 

How to Stay Secure and Avoid Common Bitcoin Scams

Welcome to the world of Bitcoin(BTC), where you are your first and last line of protection against scammers and fraudsters.

Is this year the year that you finally take the plunge and purchase your first few satoshis? Before you do, here are a few recommendations to avoid falling victim to some of the Bitcoin(BTC) scammers and hucksters who will try to take benefit of people who are always new to the wild world of cryptocurrencies.

Do your research

The first step along the way is setting up a wallet to keep your Bitcoins safe. There are many Bitcoin(BTC) wallets on the App Store and Google Play. Just read reviews and do some research on wallets before deciding on one. You want to be sure that you are depositing your newly acquired Bitcoin funds into a legitimate wallet that will actually keep your crypto safe and not being stolen.

You also need to decide on an exchange where you can buy your first Bitcoin. There are many exchanges and they come with different levels of security. Most require some form of identity verification before you can set one up, so be prepared.

When it comes to wallets and exchanges, make sure the site you are visiting is reputable before sending any money. A fancy website is not necessarily the sign of a reputable company. Likewise, just because a wallet app is listed on an app store doesn’t guarantee that it’s safe.

Protect your Bitcoin keys

Bitcoin isn’t like your bank. There is no helpline you can phone, no fraud department that might help you sort out a transaction and no way to block a “suspicious transaction.” The ethos of Bitcoin(BTC) is that it exists beyond the traditional financial system and gives ultimate control to the user.

On the one hand, this means you aren’t paying overdraft prices or having the government earn access to your personal data through your financial transactions. On the different hand, there is no centralized authority who is driving to step in and protect you if you transfer your keys and have your Bitcoin(BTC) stolen. In some ways, it’s the ultimate test of unique responsibility.

Sharing is not caring

Never share your private key with anyone, and certainly not online. Also, when you create a wallet, you often get a seed phrase. Also known as a backup phrase or recovery phrase, this is a group of words that were generated once when the wallet was made and you are required to write them down and keep them in a secure place. The reason you are usually asked to write them down is so they are not stored on your computer where they are vulnerable.

No one is going to give you free Bitcoin(BTC)

Finally, take it slow and be cautious. There are more progressive hacking and scamming techniques out there.  who carried out the scam over the system for months. I’ve seen cases where people gave “traders” their personal keys so they could turn earnings, only to see their wallets slowly drained.

Can You Still Mine Bitcoin(BTC) and Other Cryptocurrencies From Home?

Despite popular ideas, you don’t require your own wind turbine or nuclear power plant to mine cryptocurrency profitably from home in 2022.

Over a decade ago, it was incredibly easy to mine Bitcoin(BTC) from home. You could just cobble together some gaming computers, or stealthily access your school or office infrastructure and mine enough Bitcoins to be good for life: as long as you’ve got diamonds in your hands (never sold them), you’ve got them sold at the right time or you didn’t throw away your hard drive now a  distant memory.

The Bitcoin(BTC) network has grown so large that mining operations with warehouses full of powerful custom miners are now competing to earn block rewards. But there are ways that cryptocurrency mining can still be profitable for the average person, and not just for Bitcoin. In this article, we will show you which tools you need to calculate your chances of winning and which coins are the best.

Is it profitable to mine Bitcoin at home?

Bitcoin(BTC) was the world’s first globally accessible cryptocurrency to popularize mining – the process of utilizing computational power to develop a winning code (known as a hash) before anyone else in order to be appointed to add a new block to the Blockchain. In exchange for their effort, each successful miner is rewarded with a newly minuted cryptocurrency and any fees connected to the transactions they include in the new block. This type of Blockchain validation technique is known as “proof-of-work.”

When you mine a cryptocurrency, you require to be mindful of the liabilities that will cut into your profits: namely, Bitcoin’s market price, the cost of electricity, maintenance prices and the cost of your mining tools, and how long it is likely to stand up against increasingly powerful miners. As more powerful devices reach the market, your once-powerful motor might not be able to keep up.

What coins are profitable to mine at home?

Still, there are plenty of other options for the weekender to mine crypto at home. Unfortunately, there are so many options and variables that it’s difficult to make accurate comparisons.

There are some truisms: At a certain point, it’s generally more efficient Mine Bitcoin using computer chips instead of Ethereum, rather than using graphics cards, as Ethereum strongly favors graphics processing units (GPU). This won’t be the case for long, however, as Ethereum is weeding out miners before migrating to a proof-of-stake Blockchain system.

The procurement of the mining hardware itself is also still a big issue. In the 2021 bull market, the GPU market went berserk, making it almost impossible to buy the best graphics cards at the market price. To complicate matters further, some networks like Chia rely on hard drives rather than graphics cards or computer chips, leading some to point the finger at Chia mining because of the hard drive shortages in 2021.

Alternatives to mining solo at home

If you’re interested in growing your chances of reaping mining rewards, you can also consider participating in a Bitcoin(BTC) mining pool. This involves joining forces with other miners to improve your odds of finding new blocks and generating a profit – but it also means you’ll be splitting the returns.

Finally, if you don’t have the computing power at home, you can look into cloud mining and weigh the pros and cons of outsourcing your hardware requirements.