What is the relationship between cryptocurrency and the economy? How does the crypto market influence economic activity in the nations worldwide?

[Cryptocurrency](https://news.monitalks.io/coins) is a digital currency, not a fiat currency, but that doesn't change the fact that it influences fiat currencies. Crypto has a significant impact on the global economy, whether it is a negative or a positive one.

The article explains the relationship between cryptocurrency and the economy. 

## What is Cryptocurrency?

Understanding crypto will make it easier for you to know the relationship between cryptocurrency and the economy.

Cryptocurrency, at its most basic, is a digital currency that serves as a form of exchange. Various safe transactions can be made with cryptocurrency on decentralized systems. By decentralized system, I mean that transactions made with crypto are done directly with the crypto traders without needing a third party.

Cryptocurrency fully emerged in 2009 when Bitcoin launched. Bitcoin wasn't so popular back then, and even struggled to maintain its stance. Today, however, it is the most popular and largest cryptocurrency. Bitcoin's success paved the way for many other coins. By 2020, more than 2,000 cryptocurrencies had been created. The number is much, much higher than that now.

Huge investments have been made in these coins, and millions of dollars have been earned. However, sometimes huge losses have been incurred.

As long as fiat currencies are involved, there is a relationship between cryptocurrency and the economy.

## Advantages and Disadvantages of Cryptocurrency on the Economy

There is no doubt that there is a relationship between cryptocurrency and the economy. The question is, how does the cryptocurrency market influence the economy globally?

As I mentioned earlier, it could be a negative or positive impact. Listing the advantages and disadvantages of cryptocurrency on the economy will help us weigh the odds.

### Advantages

1.	The transaction made with cryptocurrency is peer-to-peer. This way, trusted transactions can occur easily at any time, and this can boost the economy in many ways. You don't need an intermediary to guarantee the safety of a transaction. For those without a bank account, especially those in underdeveloped countries, transactions can be made more easily.

2.	There are no restrictions regarding where transactions can be made between. For example, you can transact with someone from another country, or even continent, without restrictions. This means businesses, whether small or large-scale, can operate globally.

3.	Low transaction costs encourage more transactions without the fear of high fees.

4.	Cryptocurrency has provided job opportunities and also become a source of income for the unemployed. Millionaires have been made overnight in the crypto space.

5.	[Blockchain technology](https://www.investopedia.com/terms/b/blockchain.asp) has moved into the mainstream. The use of blockchain generally will help reduce the level of trust and increase transparency in transactions.

### Disadvantages

1.	The cryptocurrency market is highly volatile. This simply means that it is highly unpredictable. The wrong investment can make you lose all your assets in one day.

2.	The cryptocurrency market is unregulated, meaning there are no rules guarding the space or protecting the buyer. You can easily purchase a scam coin without knowing.

3.	Transactions made with cryptocurrency cannot be tracked. This means that funds cannot be tracked if they are sent to the wrong address.

The advantages seem to outweigh the disadvantages, but still, there is room for more improvement in the crypto space. The drawbacks may be fewer, but that doesn't stop it from causing severe problems.

## How Can the Relationship Between Cryptocurrency and the Economy be Improved?

The crypto market is still new to the global markets. With time, relevant laws will be created to ensure the crypto space is safer. Cryptocurrency keeps becoming more popular daily, hence a steady increase in the number of investors globally. While waiting for the crypto space to improve, it is vital to maintain wise investment decisions to control the level of risk in the space.

## Conclusion

Cryptocurrency has a massive impact on the economy, most of which is positive. With time it can be a completely acceptable way of doing business transactions, and the relationship between cryptocurrency and the economy can further be improved.


Cryptocurrency and the Economy: Crypto's Influence on Finance

Environmental cryptocurrency consciousness is developing as more and more people think about the impact of crypto on our ecology.
It has been widely reported that [Bitcoin](/coins/btc), altcoins like [DOGE](/coins/doge), and other cryptocurrencies are having a detrimental impact on the environment.

How much do you know about environmental cryptocurrency concerns? Are you aware that the high levels of energy consumption in the crypto space could pose a threat to our planet?

We have to start thinking about environmental cryptocurrency, for the protection of our ecology and the wider adoption of crypto.

Cryptocurrencies generated through mining have a substantial negative impact on the environment. They use high-powered computers and a massive amount of electricity to mine their coins. What is the effect of this high level of energy consumption on the environment?

Cryptocurrency has become extremely popular. There are thousands of coins, with new ones emerging all the time.
While this may be good for the crypto space and investors, there is a downside - especially if those cryptocurrencies require mining.

Bitcoin, the most popular cryptocurrency, is viewed as an unsustainable network. Bitcoin requires a high level of energy consumption for mining, and the more Bitcoin that gets mined, the more harm it causes to the environment.

In the past, there wasn't much time given to environmental cryptocurrency thinking.
However, awareness of the negative impact of unsustainable cryptocurrencies on the environment is growing, along with demands for solutions.

Let us go through the impact of cryptocurrency mining on the environment

## How are Cryptocurrencies Made?

Many cryptocurrencies are created through 'mining'. Miners use computer programmes and power to create solutions to tough problems. The answers they create validate cryptocurrency transactions, and this validation goes into a decentralized record-keeping system. Powerful computers used for mining are called mining rigs, which use a surprisingly high amount of electricity.

For example, researchers from Cambridge University estimated that Bitcoin annually uses electricity more than the whole of Argentina.

[Digiconomist](https://digiconomist.net/), a cryptocurrency analytics site, published that the carbon footprint of one Bitcoin transaction is likely to be more than two million Visa transactions. And just that transaction uses as much power as an average American household uses in two months.

This danger that digital currencies pose to the environment starts to make sense now.

The use of cryptocurrencies to make transactions have increased speedily. Is there any hope for our environment?

## Can this Impact be Controlled?

Many cryptocurrencies are created through Proof of Work, which leads to large energy consumption. However, other methods that require less energy are being developed:

- Proof of Stake (PoS): a cryptocurrency consensus mechanism for processing transactions and creating new blocks in a blockchain. This mechanism is an alternative to cryptocurrency mining that does not involve extensive computing power. Paying closer attention to this method will help to conserve more energy consumed while mining cryptocurrency. Ethereum plans to move from PoW to a PoS algorithm. It will reduce the network's energy demand by about 99%.

- Some Bitcoin developers are working towards the Lighting Network that will decrease the energy consumption by most transactions.

- Cryptocurrency education is also necessary; people must become fully aware of environmental cryptocurrency challenges. Bitcoin uses the most energy when it comes to mining. Yet, when people get introduced to cryptocurrency, many start with Bitcoin and use it the most.

## Conclusion 

People can be educated about other options they have in cryptocurrency. They can learn to use more environmentally friendly cryptocurrencies that don't use PoW.

Environmental cryptocurrency consciousness is a good thing. This is a serious issue. It needs to be tackled now, before it worsens.


Environmental Cryptocurrency Concerns

Alto, an investing firm in the United States found out that 39% of Millennials in America hold digital assets. Individual stocks are owned by nearly the same percentage, as estimated in the American crypto survey.  

While some had a small portion of their wealth in mutual funds, the majority had some of their hard-earned money in crypto. Seventy percent of investors with a long-term outlook included cryptocurrencies in their Individual Retirement Accounts (IRAs). 

Additionally, the American crypto survey found that citizens within the aforementioned age group who do not own any forms of digital currencies are considering entering the space in the not-too-distant future despite reservations by [Warren Buffet and Bill Gates](https://news.sky.com/story/elon-musk-sued-for-258bn-over-claims-he-ran-a-pyramid-scheme-to-promote-dogecoin-12635334) on the use of Bitcoin.

With that said, the current crypto climate where all cryptocurrencies are trading below 50% of all-time highs  has made it difficult for millennials to throw money behind any digital asset. Commenting on the insights from the study, founder and the Chief Executive Officer (CEO) of Alto, Eric Saltz said that in a modern world of conspicuous consumption, soaring living costs, and student loan debt reaching new highs, millennials are struggling to afford the present which makes it difficult to them to invest for the future.

Out of the assets available for investments, millennials are more interested in putting their monies into real estate. Statistically, 77% answered they would invest in properties, 55% are interested in testing Angel investing, and 67% were interested in jumping into innovation funds. 

Another study conducted by deVere Group, an international financial consultancy firm revealed that 51% of Generation Z (born between 1997 and 2012) and 36% of millennials would prefer receiving half of their salaries in cryptocurrencies instead of fiat money (USD). 

According to the Chief Executive Officer (CEO) of deVere Group, Nigel Green, many youngsters grew up within the technological revolution, and are accustomed to digital things. This has made it easy for them to embrace the latest innovation in the financial sector since they see massive potential in the use of cryptocurrencies. 

Moreover, per a survey by the Consumer News and Business Channel (CNBC) in June, 47% of millennial millionaires have at least 25% of their wealth in the decentralized finance market. 

For the latest crypto business news, visit [Moni Talks](https://monitalks.io/news/category/crypto-business-news).


American millennials invest more in crypto than mutual funds

Cardano has announced the opening of a 4-week window for developers of decentralized applications (dApps) and software engineers at cryptocurrency exchanges to test the protocol’s upcoming upgrade before it is launched onto the main network. 

Input Output Hong Kong (IOHK), the developers behind this upgrade ,have pointed out that this is the most significant upgrade undertaken on the Ouroboros protocol to date. 

## What the Vasil hardfork entails

The latest update will bring capability upgrades and significant performance to the chain. Aside from that, it will improve script performance for developers, and lower costs by providing higher throughput. The [Vasil hardfork](https://cointelegraph.com/news/cardano-s-vasil-hard-fork-proposal-submitted-countdown-commences) is trending because of the lesser impact the Alonzo update had on stakeholders of the project which was evident in the 11 decentralized applications on the blockchain, according to DeFiLlama. 

As one of the few chains that have found an answer to the blockchain trilemma (decentralization, security, and scalability), the update will come with the implementation of diffusion pipelining. This would improve the scalability of the blockchain for the creation of dApps. Last year, Cardano founder Charles Hoskinson pointed out that the protocol will  host thousands of applications by the end of 2021. Unfortunately, this has not been the case as projects such as Avalanche (AVAX) and Solana (SOL) have attracted substantial market share due to Hoskinson’s project not reaching full functionality, as per the roadmap given to its followers. 

Through this update, block creation will be relatively faster since they would not need full validation before transmission. This will pave the way for developers to finally build their dApps on one of the most vibrant ecosystems in the space. 
Based on analytics from Santiment (a data tracking tool), the protocol leads the entire space concerning development activity in June. 

Projects such as Kusama and Polkadot trail the Cardano, which has also been dubbed as the potential Ethereum Killer. Despite naysayers such as [Bill Gates](https://www.monitalks.io/news/article/bill-gates-crypto) and Warren Buffet’s opposition to Bitcoin, many analysts believe the Cardano crash will not last long. Digital Coin Price forecasts ADA to reach an average price of $0.58, a minimum price of $0.54, and a maximum price of $0.62 by the end of 2022. 


 Cardano Vasil hardfork countdown begins

The Singapore crypto scene is one of the main attractions in the unregulated digital currency landscape due to the country’s friendliness towards the new financial revolution. 

Unfortunately, the country’s regulator’s tightening on digital finance in[ June](https://cointelegraph.com/news/brutal-and-unrelentingly-hard-singapore-regulator-s-clampdown-on-crypto) contradicts Tharman Shanmugaratnam, a senior minister in the Cabinet who saw a lot of positives in digital assets in the sovereign island country and this has sent shockwaves across the markets. 
On Thursday, June 23, the central bank and financial regulator of one of Asia’s booming economies pledged to be unrelentingly hard and brutal on any transgression from major stakeholders in the digital currency industry. 

These comments were made by Sopnendu Mohanty, the Chief Fintech Officer of the Monetary Authority of Singapore (MAS) who explained in an interview with the Financial Times (FT) which was highly monitored by [MoniTalks. ](/news)

The Fintech Officer also criticized market participants who believe the country is losing its status as a friendly state for alternative finance. 
He responded that his country should not be friendly with decentralized finance because it can only deal with actors in a real economy and not some “unreal economy”.

To many firms in the space, this is a complete turnaround from what cabinet minister Shanmugaratnam said in October 2021. 
At the peak of the markets during the first month of the last quarter of 2021, he pointed out that digital tokens may have a role in future finance that goes beyond illicit finance and pure speculation. 

He added that the country was laying the foundation for becoming a crypto-technology hub which will make it easy for tokenization, trading, and custody services to be provided by companies. 

With that said, Chief Fintech Officer, Sopnendu Mohanty believes the current financial crisis can be attributed to the world being lost in private currency. 

As a result, the Asian state has enacted a painfully slow due diligence process that grants licenses to businesses associated with the digital currency market. 

Singapore crypto became a mainstay in the space because firms enjoyed low taxes. 

Unfortunately, the view in which the minister sees a place for crypto in the Asia hub has been replaced by regulations that aim to pave the way for the introduction of central bank digital currency (CBDC) which could be launched in the next three years. 


Singapore Regulator’s Clampdown on Crypto

Is [Bitcoin Prime](https://bitcoinprimeapp.com/) scam or legit? That's the question investors have been asking after promises of huge returns for little work.
Bitcoin Prime is a trading bot that employs sophisticated artificial intelligence (AI) algorithms to make automatic trades on your behalf. It has a claimed 90%winning rate, per its official website, and the software is completely free to use.

All you have to do is to pay a small fee in commission only when you win. Due to the controversies such as scams and hacks miring the crypto finance market, many people ask, is Bitcoin Prime worth your time and money?
This article looks at all the essential details you need to know about this crypto trading robot.

## What is Bitcoin Prime?

Bitcoin Prime is reputed to be a cryptocurrency trading service that detects trading opportunities in the cryptocurrency markets. Once profitable setups are found, Bitcoin Prime automatically places trades on your behalf.

Because it markets itself under its AI algorithm, its success largely depends on it. Although it has been difficult for software engineers to identify the details of Bitcoin Prime's algorithm, many experts believe it sources data from technical analysis patterns that several day traders use to make money.
Despite being accessible to everyone with internet access, you need $250 as an initial deposit before you make real profits using Bitcoin Prime.
The platform’s revenue comes from charging a 2% commission on profitable trades.

You should note that you would not be subject to commission fees if your account does not turn profits.

## How Does Bitcoin Prime Work?

Despite the phrase 'Bitcoin Prime scam' trending online, it appears to be a legitimate project, and this is how it works.
The crypto trading robot tracks the price movements of 14 different digital assets. They are Binance Coin (BNB), Ripple (XRP), NEO, EOS, Miota (IOTA), Cardano (ADA), Ethereum Classic (ETC), DASH, Zcash (ZEC), Bitcoin Gold (BTG), Bitcoin Cash (BCH), and [Bitcoin (BTC)](/coins/btc).

Once the algorithm detects a price pattern in any of the aforementioned assets, a trade will be triggered.
An order will be entered into your account, which will be monitored, and the position will be closed once the trade expires.
Once done, your funds and any profits will be returned to your account.

Like certain exchanges, such as eToro, Bitcoin Prime provides a demo account. This helps you familiarise yourself with its AI algorithm.
Bitcoin Prime does not store your funds in their wallet. For the purposes of credibility, funds are held in the accounts of a third-party broker. As a result, while Bitcoin Prime can issue orders for the execution of trades, it does not have access to your funds.
You can withdraw funds within a few hours if you are not satisfied with your trading activity.

## Pros and Cons of Bitcoin Prime? 

While the crypto robot offers a unique innovation that has made trading highly volatile assets such as cryptocurrencies easy, it is not a perfect system.
One of the pros of Bitcoin Prime is that it lists several cryptocurrencies for trading. Also, it does not take a huge part of potential profits. A 2% commission fee is relatively lower than some of the fees charged on certain cryptocurrency exchanges.

What’s more, Bitcoin Prime’s association with third-party brokers in executing contract-for-differences (CFDs) shows a commitment to staying up to speed with the space.
The trading service's demo account converts novices to experts, resulting in rave reviews by past and active users of the platform.
With that said, Bitcoin Prime does not offer a mobile application. One of the pros of cryptocurrency exchanges is their accessibility on smart devices powered by Android and iOS. This has made it easy for traders to buy and sell cryptocurrencies.

Aside from that, the minimum deposit for being a customer of the trading service is $250. Several cryptocurrency exchanges have minimum deposits that range from $1 to about $50.

Bitcoin Prime's deposit requirement is five, 10, 15, or even 20 times that of some.

When it comes to answering the questions 'Bitcoin Prime Scam or Legit?' you should conduct your own research.
 
 


Bitcoin Prime - Scam or Legit?

## MoonPay launches NFT Platform with Fox, Universal Pictures. 

MoonPay is partnering with Fox Corporation, Universal Pictures, and Death Row Records (from Rapper Snoop Dogg) in addition to other brands to launch HyperMint, a new NFT platform. 

This partnership was announced by Ivan-Soto-Wright, Chief Executive Officer (CEO) as part of this week’s (June 20 to 24) NFT.NYC conference at Radio City Music Hall in New York City. 

This comes as great news for the digital collectibles space after volume for NFT marketplaces reached new high lows in 2022. 
This also bodes well for the adoption of cryptocurrencies despite complaints by investors Bill Gate and Warren Buffett about the [worth of Bitcoin](https://news.sky.com/story/elon-musk-sued-for-258bn-over-claims-he-ran-a-pyramid-scheme-to-promote-dogecoin-12635334) and digital assets as a whole.   

HyperMint will enable enterprises, agencies, and large brands to mint hundreds of millions of NFTs daily. This will be an upgrade on the minting process of existing NFT platforms are accustomed to, which takes months to complete.
The platform’s underlying technology has laid grounds for a further breakout in NFTs for legacy brands like Fox and Universal which have several intellectual properties that can be rolled out to millions of digital collectibles lovers. 

Non-Fungible Tokens represent real-world objects in virtual reality such as real estate, music, and art. As digital assets that are indestructible, non-interoperable, indivisible, and verifiable, NFTs cannot be replicated in any shape or form. 
In 2022, brands such as the National Football League (NFL), Nike, Gucci, McDonald’s, Coca-Cola, Louis Vuitton, Burberry, Ray-Ban, Adidas, and Givenchy integrated NFTs into their marketing strategies. 

Commenting on the partnership, Soto-Wright pointed out, “The potential of NFT goes beyond collection; it is the utility. You can essentially program anything into these NFTs over time, which is why we decided to focus on this new product offering.”
MoonPay was founded in 2018 and allows users to buy and sell digital assets using traditional payment methods like mobile wallets (Google Pay and Apple Pay), bank transfers, and credit cards. It also sells its technology to NFT marketplace OpenSea and crypto website, Bitcoin.com.

Despite businessman and celebrity [Elon Musk](/coins/doge) being sued for allegedly misleading people into buying crypto, MoonPay has more than 60 celebrity investors on its balance sheet.
HyperMint will be joining NFT platforms such as LooksRare, Nifty Gateway, and Magic Eden among others. 


MoonPay launches NFT Platform

## Dent Crypto Explained

Dent Crypto produces eight-figure results on search engines. This means that millions of novice and expert traders continue to ask questions about the possibilities of the Dent blockchain and its native asset, DENT, in the saturated market of cryptocurrencies.

## What is Dent Crypto?

Much of the world is accustomed to using the internet for leisure and work.
You cannot access the internet without bandwidth, which can only be obtained via a telecommunications service provider.
Bandwidth is ordinarily bought in bundles of gigabytes monthly, but more than 90% of users don't use up every byte.
The unused capacity is repackaged and sold again.

This caught the attention of Tero Katajainen and Mikko Linnamaki, founders of Dent. They believe blockchain technology could decrease the prices associated with internet use.
With half the global population lacking internet access due to bandwidth prices, Dent enters the telecommunication space aiming to make it easy for everyone to become a part of a global society.

## How Does Dent Crypto Work?

Dent is a digital mobile operator offering embedded subscriber identity module (eSIM) cards, call minutes top-ups, roaming-free experience, and mobile data plans.
Launched in 2017 as an ERC20 token (housed in the ecosystem of [Ethereum](/coins/eth)), Dent wants to unsettle the mobile data market with its technology.
It believes in a world where everyone can freely buy, sell, and even donate their mobile data.

Dent is doing away with data roaming charges. Instead of buying high-priced data from a local service provider, you can purchase data from an extensive network of nodes from the Dent Marketplace.

These nodes are individuals who offer their unused data allowances in exchange for some DENT tokens.
At the launch, 100 billion DENT tokens were made available. Of this, 70 billion were released during pre-sale and sale events, while the founding team retained 30 billion DENT to cover operational expenses.

Although they are used interchangeably, Dent is the blockchain, and DENT is the cryptocurrency associated with the entire project.
As of June 15, 2022, DENT is found on approximately 34 exchanges. Places to buy Dent Crypto include Binance, Bitvavo, Kucoin, Gate.io, WazirX, Upbit, Indodax, FTX, Uniswap V3, and Nami.

## What are the Benefits?

Operating as a single operator in a single world, you can get an internet connection with a validity of 365 days (one year). As a result, you can travel worldwide without worrying about changing SIM cards or paying roaming fees.
You can select one global data package (1GB, 3GB, 5GB, and 10GB) and use it in 60 countries (Asia Pacific, Europe, Middle East, Africa, and America).
You can surf the internet with fast 4G and LTE connections.

Despite the benefits of the Dent Crypto eSIM, it is not available on every smart device. As a result, many ask which devices support eSIM?
Apple Smartphones (iPhone 13 Series, iPhone 12 Series, iPhone 11 Series, iPhone SE (2020), iPhone XR, iPhone XS, and iPhone XS Max) support Dent Crypto's embedded SIM.

Google Smartphone users of models Pixel 6 Series, Pixel 5 Series, Pixel 4 Series, Pixel 3a, and Pixel 3a XL can also access the eSIM.
Dent Crypto's embedded SIM is also available for Samsung Smartphone users of models Galaxy S22 Series, S21 Series, S20 Series, Galaxy Fold, and Galaxy Z Flip.
Other smartphone brands supported by eSIM include Huawei P40, Huawei P40 Pro, Motorola Razr (2019), Nuu Mobile X5, and Rakuten Mini.
Aside from these, Notebooks from Apple, Samsung, Microsoft, Lenovo, Hewlett Packard (HP), Asus, and Acer can also access eSIM.

## Is Dent Crypto a Good Investment? 

Dent Crypto (DENT) can be considered a good investment based on its unique innovation.
Analysts at [PricePrediction.net](https://priceprediction.net/en) believe DENT could command the highest possible trading price of $0.001 by the close of 2022. Analyst David Cox estimates DENT could exchange hands at the best price of $0.0022 by the close of 2022.

With that said, you should always consider the pros and cons before investing in DENT. While Dent Crypto is challenging the status quo, not every brand or model of a brand can access the eSIM.

Moreover, its native asset, DENT, competes with more than 19,000 coins for liquidity.


Dent Crypto: A Good Investment?

The release of Euro Coin (EUROC) was announced by global fintech firm, Circle, on Thursday, June 16, 2022. Circle is the same firm that launched the [United States Dollar Coin (USDC)](/coins/usdc). Like USDC, Euro Coin will be a fully reserved, Euro-backed stablecoin. 

## How the Euro-backed stable coin works

The Euro Coin will function the same way as the Dollar Coin. Thus, 1 EUROC and 2 EUROC will be the equivalent of €1 and €2 respectively. 

As a regulated stablecoin, Euro Coin will be issued under the same full-reserve model of USDC. More importantly, the stablecoin was built on the same standards of security, transparency, and trust that have made USDC one of the most used digital currencies in the crypto finance space. 
 
Circle’s introduction of EUROC will help bridge traditional financial services and cryptocurrencies. Several businesses that do not have direct access to the Euro can use EUROC tokens as on-demand liquidity (ODL) to make and accept payments globally which settle in minutes.
 
Aside from this, the Euro Coins as a tradable token can be used to access crypto capital markets such as lending, borrowing, and trading. 

To ensure the security of the stablecoin to help prevent the ghosts of TerraUSD (UST), Circle has ensured that EUROC has 100% backing of euro-denominated reserves held conservatively in the custody of some of the leading institutions in the financial sector of the United States regulatory perimeter such as Silvergate Bank. 

Speaking on the [launch of EUROC](https://www.circle.com/en/pressroom/circle-announces-a-fully-reserved-euro-backed-stablecoin-euro-coin-euroc), co-founder and CEO of Circle, Jeremy Allaire said, “There is clear market demand for a digital currency denominated in Euros, the world’s second most traded currency after the U.S. dollar. With USDC and Euro Coin, Circle is helping to unlock a new era of fast, inexpensive, secure, and interoperable value exchange worldwide." 

Starting from June 30, EUROC will be made available to institutional clients through a free Circle Account. Uniswap, Huobi Global, Bitstamp, Curve, and Binance.US are among the exchanges that will be supporting the stablecoin. 

This will play an invaluable role in the lives of millions of people who would love to go about their financial lives with EUROC rather than USDC or other currency-backed stablecoins.


Circle launches Euro Coin

The Altcoin Season Index tracks whether investor interest points towards altcoins or [Bitcoin](/coins/btc). Normally, if three-quarters of the top 50 coins by market capitalization outperform Bitcoin over the last quarter (3 months or 90 days), the index could be called altseason.

On the other hand, if 75% of the top 50 coins cannot outpace Bitcoin regarding price performance in the last season (90 days), then there is Bitcoin Season.

[Altseason](/news/article/altcoin-season) is when there are more inflows into alternate coins than into the largest digital asset by market capitalisation, BTC.

## Importance of Altcoin Season Index 

Savvy crypto traders and investors use the altcoin season index to make decisions on whether they have to invest in altcoins or inject more money into Bitcoin.

A great example of the relevance of the Altcoin Season Index can be attributed to the current crypto climate, which is the second quarter (April to June) of 2022.

In April, the crypto altcoin season returned as Bitcoin dominance faded. An index of 100 tokens outperformed Bitcoin in March. Investors who wanted to diversify their assets in case Bitcoin plunged to new high lows bought more altcoins. They were not wrong, as the market crash of May led by Do Kwon's Terra project signaled a steep decline in all cryptocurrencies, with Bitcoin taking much of the fall.

In April, May, and June, the top 50 cryptocurrencies - including Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Ripple (XRP), Solana (SOL), Dogecoin (DOGE), Polkadot (DOT), TRON (TRX), Avalanche (AVAX), Shiba Inu (SHIB), Polygon (MATIC), FTX Token (FTT), Litecoin (LTC), Chainlink (LINK), Stellar (XLM), Uniswap (UNI), and Bitcoin Cash (BCH) - have not outperformed Bitcoin.

Although BTC has reached the same price levels as 2020, collectively, these cryptocurrencies and others have shed more in market value. Therefore, we can say that we are in Bitcoin Season and not altseason.
It is not surprising to see trader interest reflected in the liquidity of Bitcoin. Though much of this is related to huge selling due to the bearish trends of the market, high investor interest relative to a low-priced asset is a sign of positive reserve risk.

## How does Altcoin Season Index Relate to Bitcoin Fear and Greed Index?

Bitcoin [Fear and Greed Index](https://edition.cnn.com/markets/fear-and-greed) and Altcoin Season Index rely on BTC to make conclusions about crypto seasons.

Bitcoin Fear and Greed Index presents a bull market when the index is closer to 100 (greed) and a bearish market when the index is closer to 0 (fear). The performance of altcoins is measured against that of Bitcoin.

In conclusion, while we are not in an altcoin season in June, there is fear in the market concerning holding Bitcoin.


What is Altcoin Season Index?

[Lucky Block](https://luckyblock.com/) has introduced a new concept into the crypto finance space. As an area that has contributed immensely to the creation of crypto casinos for people who love to gamble with cryptocurrency, Lucky Block is the latest project in gaming finance ([GameFi](/news/category/gamefi)).

As an easy-to-use protocol, Lucky Block has employed the features of blockchain technology to develop a decentralised lottery system. Like crypto casinos, there are no centralised financial institutions (traditional banks, insurance companies, and clearinghouses).
The Lucky Block project aims to solve various problems that have mired the current centralised gaming systems, such as delayed payouts, on-demand liquidity problems, and security.

With more than 19,000 crypto projects circulating in the market, as of June 2022, Lucky Block has much catching up to do. Fortunately, unique innovations jump several queues within a short period, and Lucky Block could gain popularity fast with the launch of many events.
With a cryptocurrency attached to the project, called LBLOCK, available on the market, will LBLOCK and the entire Lucky Block project survive?

## What is Lucky Block (LBLOCK)? 

Launched in January 2022, Lucky Block is a blockchain-based lottery protocol housed in the Binance Smart Chain (BSC). The primary purpose of Lucky Block is to improve transparency and fairness in the electronic gaming world by creating a system where every player has an equal opportunity of winning.

The project has a massive team behind its continuous development. London-based Scott Ryder serves as the Chief Executive Officer. Its native asset, LBLOCK, serves as the token that oversees transactions on the Lucky Block protocol.

LBLOCK is also the ticker symbol Lucky Block’s ecosystem is associated with on exchanges such as PancakeSwap.

At the launch of the project, a total of 100 billion LBLOCK tokens were distributed.
As of Tuesday, June 14, 2022, there were around 40.77 billion tokens in circulation. This means that more than 50% of LBLOCKs are still available for purchase.

## How does Lucky Block work? 

Currently, thanks to the use of digital currencies and crypto wallets, it has become easy to use casinos. This is because you only need an internet connection and a cryptocurrency supported by a crypto casino to wager, stake, or bet on sports as well as gaming products designed by the gaming platforms.

Lucky Block has introduced a concept that differs from crypto casinos.
If you are an LBLOCK holder, you can decide whether or not to take part in a periodical jackpot by locking some of your tokens.

Lucky Block launched its first jackpot on May 31, 2022. The prize was $1 million and the total number of tickets purchased was 873,541.

## How does Lucky Block's lottery, or jackpot, work?

Per the terms of transactional taxes in the project's whitepaper, 1% of transactions will be burned, 3% will be put into non-fungible tokens (NFT) and gaming royalty funds, 4% will be deposited into liquidity pools, and 4% of fees will be placed into a lottery (jackpot) pool.
So far six (6) lotteries have taken place. The winner takes home 70% of the jackpot.
Out of the remaining 30%, 10% is redistributed to LBLOCK holders depending on the size of their holdings. Another 10% goes into marketing, and the remaining 10% is deposited into a charity fund.

Draws were also made on June 6, with prize money of $42,714, and 473,525 tickets were purchased, and on June 10, when the prize money was $5,000 and 516,333 were purchased.

## Is Lucky Block (LBLOCK) a Good Investment?

Lucky Block can be considered a good investment based on the price forecast made by experts at the technical analysis-backed portal, Digital Coin Price, and Price Prediction.net.
According to Price Prediction.net, LBLOCK could command a minimum price of $0.001 and a maximum price of $0.002 by the end of 2022.

The cryptocurrency shed more than half its peak market value in November 2021, so consider risks and rewards before investing in LBLOCK.

That said, LBLOCK is exchanging hands for $0.0009954 and can be considered a low barrier to entering the crypto trading market.

With $100, you could buy around 100,462 LBLOCKs, and see how much in rewards the tokens could bring you in the short, medium, or long term.


Lucky Block Crypto: What Is It?

## What is tax?

To have a clear insight into what this article is about, you first have to understand the meaning of tax. 
Tax is a mandatory contribution imposed on individuals or corporations by a government entity, and these contributions are used to finance government activities.
The government does not regulate the crypto space in the UK, so how is a crypto investor obliged to pay taxes? This is a common question on the internet. 

Crypto is generally not considered by the government as a form of money. Cryptocurrency is, in fact, a digital currency that came to light around 2008/2009. There was little or no regard for it then, as people considered it as an avenue for internet crimes. Currently, the crypto market has been known to generate millions of pounds and is sure to create awareness. Bitcoin is the cryptocurrency that made the crypto space as famous as it is now. Bitcoin is the largest cryptocurrency, with a price of about $30,000.

## Do you pay tax on crypto gains in the UK?

The answer to this question is yes, but it depends on how the crypto assets are used. The regulations guiding the crypto space are still firm as cryptocurrency is not a generally accepted form of money, but that doesn’t stop a crypto investor from paying taxes in the UK. 

According to the UK tax law, you are eligible to pay tax as long as you earn up to £12,300. However, transactions done in the crypto space are mostly untraceable, so how can the government tell If your profit is up to £12,300. 

Without the crypto space being regulated, as long as you make up to the approved amount for paying tax, you are liable to pay capital gains tax, but without any close monitoring from a government body, most people flaunt this tax law. 

By law, as long as you fall into any of these categories, you are liable to pay crypto tax gains.

•	If your employer pays your salary with cryptocurrency: Though transactions done with cryptocurrency cannot be traced, as long as the company you work for is registered, you must record payments made to you. This makes it easier for the government to be aware of your cryptocurrency activity. 
•	If your business is backed by cryptocurrency: This also applies to cryptocurrency companies based in the UK. If your registered business is connected to cryptocurrency, you are liable to pay tax. 
•	If you mine crypto: crypto mining, especially Bitcoin, requires a high energy level. If you are a crypto miner, you are eligible to pay tax.
•	If you trade crypto: if you trade crypto in the UK and make good profits, you should pay tax.

Some companies or individuals backed by cryptocurrency often hide under the fact that the crypto space isn’t regulated, but the thing is, the law always finds its way around things, and they are also likely to fall out of luck in the future. 

## The question is, Do you pay tax on crypto gains UK?

It is a well-expected question considering the unregulated nature of crypto and the fact that most people see crypto investment as gambling since it is an unpredictable space. However, unlike what some individuals or corporations may assume, [HMRC](https://www.gov.uk/government/organisations/hm-revenue-customs) does not classify cryptocurrency as gambling. Therefore, as long as there is profit, paying tax is required. 

## What Are the tax rates?

Tax rates depend on the type of assets and are not permanent. The rates can change each year, so to avoid defaulting in any way, monitor the rates at all times. 

•	For shares, you are required to pay a basic rate of 10%
•	Residential properties require a basic rate of 18%
•	Cryptocurrency requires a basic rate of 10%

## Conclusion 

Paying tax to the government if you make a profit is highly mandatory. So whether the crypto space is regulated or not, taxes must be paid. Though the crypto space is volatile and maybe seem like gambling, it does not exempt a crypto trader from paying taxes in the UK. 




Do you pay tax on crypto gains in the UK?

The search phrase 'what are reflections in crypto' yields 4.36 million results in 0.49 seconds on Google. That's a lot of information out there on reflection tokens.

So, what do we mean?

## Passive Income

Smart contracts in Decentralised Finance (DeFi) have been at the core of some of the fastest-growing projects, such as Ethereum, Solana, and the former Terra LUNA.
Mainstream cryptocurrencies that also serve as DeFi tokens help investors make additional income through their crypto holdings. Some of the processes used in earning passive income are through staking and liquidity provision to support automated market makers such as decentralised exchanges (DEXs).

Such a process was quite complex and added to the burden of beginner traders and investors who were alien to blockchain technology and cryptocurrency as a whole.
Several developers understood the plight of such people and introduced reflection tokens into the crypto finance space.

With reflection tokens, there is no need to learn about liquidity mining, staking, or yield farming. In trying to understand this new breed of digital currencies, we ask what are reflections in crypto and how do they work?

## What are Reflections in Crypto?

Popularly known as rewards tokens, reflection tokens are digital assets that reward their holders using a technique that taxes transactions, with a percentage of this tax being redistributed to token holders.
Holders receive tokens in their crypto wallets. Although the end result of yield farming and staking is to reward holders, reflection tokens reward holders for just having the coins in their wallets. Holders do not have to join a staking or liquidity pool before they can see additional rewards periodically. Tokens are normally distributed based on the size of holdings.

Reflection tokens have several advantages. Among them is the prevention of large price declines.
Cryptocurrency LUNA crashed because large whales decided to let go of their holdings. Per the fundamental laws of economics, the more supply of an asset, the lower the price of that asset.

Due to the mechanism that taxes transactions and redistributes coins to holders, owners of a particular reflection token will hold onto their tokens for more rewards.
Simply put, reflection tokens play an invaluable role in helping keep investors loyal to a particular crypto project.

## Examples of Crypto Reflection Tokens

For those who want to find answers to what are reflections in crypto with an eye on the tokens, [EverGrow](https://coinmarketcap.com/currencies/evergrowcoin/) Coin (EGC) and Reflect Finance (RFI) are examples of crypto reflection tokens.
Launched in September 2021, EverGrow charges a 14% tax on transactions involving its native asset, ECG. A total of 8% of this tax is redistributed to investors. Rewards are paid in the stablecoin Binance United States Dollar (BUSD) due to the project being housed in the Binance Smart Chain (BSC). As of May 2022, EverGrow Coin has paid more than $36 million in BUSD rewards.

Reflection Finance (RFI) is a reward token housed in the [Ethereum](/coins/eth) ecosystem. Reflect Finance applies a 1% fee to transactions involving RFI and automatically redistributes tokens among coin holders based on the size of funds.

Reflection tokens are here to stay and continue to add more coins to the portfolios of novice and experienced traders and investors.


What are Reflections in Crypto? 

Crypto impact has been felt by millions of people ever since Satoshi Nakamoto introduced a blockchain-backed cryptocurrency in 2009. Thanks to the impact cryptocurrencies had on investors' portfolios in 2021, digital assets have established themselves as a successful currency since they have all the essential attributes (durability, utility, non-counterfeitability, transferability, divisibility, and scarcity) that confer value on money.

The economic impact of digital assets has been seen in several areas in national and global communities. As of June 2022, there are approximately 19,000 coins, per data retrieved from CoinMarketCap. There are approximately 300 million crypto users across the globe. Of these, 27 million are residents of the United States, according to Triple A (a member of the Singapore Fintech Association). What’s more, 1.5 million are residents of the United Kingdom, 1.2 million hail from Canada, 900,000 are in Australia, and more than 2 million are in Japan.

Although cryptocurrency started slow and could not impact a large sector of the global economy like the stock market in its first 10 years of existence, it saw hundreds of billions of dollars traded in the following years.

From the second half of 2020 to June 2022, cryptocurrencies have become the go-to asset for several investors who want to make gains in the short, medium, and long term.

The most popular and largest cryptocurrency by market capitalisation, [Bitcoin (BTC)](/coins/btc), is considered digital gold by many market commentators because it can retain its value over time without depreciating.
It has simplified several areas of payments and continues to break barriers in an area largely dominated by centralized finances in the last 50 years.

Here are some of crypto’s impacts on the global economy.

## Crypto Impact on Global Economy Through Blockchain 

Blockchain technology is the underlying infrastructure behind cryptocurrency. Blockchain technology has gradually moved into the mainstream and has been adopted by several Fortune 500 companies.

Many market experts believe blockchain technology has the potential to unlock billions of dollars. Companies actively developing blockchain solutions include but are not limited to the Bank of China, Samsung, PayPal, Alibaba, Walmart, J.P. Morgan, Nvidia, Tencent, Amazon, and Microsoft.

Overall, blockchain has impacted several financial institutions' cross-border transactions. Countries such as Ethiopia, in partnership with Cardano, are using blockchain to reduce paperwork by building a national identification (ID) blockchain system.

Cloud computing companies are using blockchain for the execution of smart contracts as well as resistance against hacking.

Text messaging applications have employed the possibilities of this technology due to its secure nature.
Overall, International Business Machine Corporation (IBM) believes blockchain technology has increased automation, speed, and efficiency. It provides instant traceability, greater transparency, and enhances security.

## Crypto Impact on the Job Markets 

The rise of Bitcoin and cryptocurrency has created new job opportunities. In hiring more support workers, the crypto industry offers careers in marketing, management, IT operations and helpdesk, human resources, finance, accounting, sales, information design and documentation, industrial engineering, and software development.

Every year, thousands of jobs are posted with "remote work" first options available to prospects. Most importantly, companies under the blockchain technology and crypto umbrella pay above-market compensation to their employees.

As crypto continues to make the underbanked and unbanked a part of the global economic system and gains the support of millions of people in the mainstream, more liquidity will be poured into this sector.
Once this happens, new job opportunities will be created, giving residents in unemployed economies a chance to earn a decent income periodically.

## Crypto Impact on Unstable Domestic Currencies 

Although fiat currencies are known as representative money, they have gained the confidence of billions of people over time.

Due to the success of the Great Britain Pound (GBP), Euro (EUR), and the United States Dollar (USD), they have become the go-to currencies for trade.

This has brought about terms such as exchange rates, currency appreciation, and currency depreciation.
While countries in Africa, Asia, and the Middle East convert huge sums of money for less USD, EUR, and GBP, developed economies can go about foreign trade in their domestic currencies. Cryptocurrencies have leveled the playing field and makes it possible for all countries to trade under one accepted currency that is not controlled by a single country.

This is why countries such as El Salvador of Central America and the Central African Republic (CAR) have adopted Bitcoin as their official currency. With time, the impact of cryptocurrency on economies is going to be significant.

## Crypto Impact on Low Transaction Costs 

When money is sent from one location to the other, it must go through several channels before reaching the receiver. This normally comes with hidden fees unknown to the public. With cryptocurrencies, you can send and receive money via the internet and pay little in transaction fees.

Moreover, cryptocurrencies such as Ripple (XRP) and Stellar (XLM) play a substantial role in cross-border payments.
They are used as on-demand liquidity (ODL), which facilitates transactions within seconds to anywhere on the globe.

This is why mainstream financial services companies such as Flutterwave, MoneyGram, and Azimo employ these cryptocurrencies to become the best cross-border payment solution networks.
Crypto’s impact on the transparency of payment costs has made it easy for independent contractors (freelancers) and migrants to receive and send money to remote areas without losing more than 10% of the sent funds to fees.

Overall, the impact of cryptocurrency on the global world cannot be fully measured. It has become easy for all manner of persons to conduct legitimate business without facing any form of restrictions. Entrepreneurs can go into business and pay clients within minutes. Despite cutoffs due to crypto winter, people continue to find jobs. Trading crypto continues to impact millions of people positively since it brings them consist


Crypto Impact on the Financial Markets

[Telegram](https://telegram.org/) a playground for crypto scams: How to avoid cryptocurrency scammers and identify telegram crypto scams. 

Cryptocurrency Scammers are relentlessly looking for ways to scam crypto investors. They have practically scammed people through almost all the available social media platforms, and telegram is one of these platforms. Telegram crypto scams have gradually become almost an everyday thing. Most cryptocurrency companies use telegrams to create awareness for their tokens, making it one of the most used platforms for crypto investors.  

## Telegram crypto scams can be avoided

To [prevent Telegram crypto scams](/news/article/bitcoin-scams), you to needs to first know how to identify them. Most of the scams are done by bots programmed to coax crypto investors into giving their two-factor authentication, leaving their accounts entirely vulnerable to Scammers. Unfortunately, these bots are often disguised as support channels, making it easier to deceive some crypto investors, especially those new to the crypto space.  

The bot scam has become rampant on telegram, to the extent that anyone can actually access these bots even without being a coder, by simply buying the bots. Not all cryptocurrency companies are real or genuine; some of them are merely schemes to rip unsuspecting victims off. Joining a huge crypto community makes it possible for a lot of strangers to gain access to your profile or send you messages, do not trust every information you hear.  

## How can Telegram crypto scams be prevented? 

Here are some important tips to help you be out of reach for Telegram crypto scams.  

Do your research: Do not join just any crypto community to see on telegram; always DYOR. Some crypto communities are created for scam purposes. With the internet, you can get any information you need easily. Make it a habit to first research anything that has to do with cryptocurrency before taking part in the process. 

Do not give out vital information: No genuine crypto community will ask for your personal wallet or account information as a criterion for gaining access to its tokens. Your authentication codes or OTPs are for you alone. Giving out such information always ends badly. 

Be mindful of the links you click: Scammers can use different methods to gain access to your vital information. Do not click just any link, do intense research first to find out more about the company sharing the link. 

Anything can happen in the crypto space, so it is advisable to always  stay be alert when in the space. Many assets have been lost to telegram crypto and other platform scams; always be on the lookout for crypto scammers. Losing investments, whether huge or small, can be devastating. Secure your investment by ensuring that you avoid falling victim to all these. How do you do that?  

- ##### Do your own research.  

- ##### Keep your personal account information to yourself.  

- ##### Be sure of the links you click.  

Telegram has become a playground for crypto scammers; stick to the above tips for your assets to remain protected.  

 

How to Avoid Telegram Crypto Scams

[Non-fungible tokens](/news/category/nft-news) have swept the globe, but they’re not quite as complicated as they appear.

In this article, we will explain how you can create an NFT (Non-Fungible Tokens) on Blockchain-based marketplaces in simple terms and in very few minutes.

## What Is NFT?

The word ‘NFT’ means ‘Non-fungible Token,’ meaning that they are digital assets that can’t be replaced.
NFTs are digital assets that use Blockchain technology to hold the virtual assets of their creators online.
Even a tweet can be regarded as an NFT, whether it is a song, blog post, digital artwork, playing cards, or a collectible.
You’re probably mistaken if you think that making NFTs is only for artists. On the contrary, anyone can make NFTs for free, which is exactly what I’ll demonstrate in this article.

However, do not confuse NFTs with cryptocurrency. They aren’t the same thing at all.
NFT and Crypto are, in fact, components of Web 3.0. However, there are a few ways in which NFTs and Crypto are related.

The following subtopic walks you through the steps of creating your first free crypto wallet using [MetaMask](https://metamask.io/).

## Things to note before creating an NFT

How to make and sell NFT’ is a hot topic that doesn’t seem to be going away anytime soon. It’s quite simple, but you must consider all factors before embarking on your own path. Consider consulting with a professional who can explain how to create NFT art so that you can make an informed choices.

Before proceeding, here’s a list of what you will need to begin creating, minting, and selling your own NFT: 

•	A Crypto Wallet
•	An NFT Marketplace Account
•	A Software to create or generate NFTs

## How to Create a Free NFT Crypto Wallet?

There are plenty of wallet providers to choose from, but we’ll concentrate on MetaMask, the most extensively used crypto wallet.

1.	To get started, go to MetaMask’s official Chrome Web Store page (visit) and click the “Add to Chrome” located on the button in the top right corner. If your browser prompts you for confirmation, select “Add Extension.” Make sure you’re using one of the chromium-based browsers, such as Google Chrome.
2.	When you install the Extension, it will launch a new webpage to get you started. On this new screen, click the “Get Started” button.
3.	Once you’ve done that, MetaMask will then prompt you to log in or register for its wallet. Choose the right-hand option and click the “Create a Wallet” button.
4.	Your secret recovery phrase will now be shown in the app. If you don’t want to lose access to your wallet, don’t share it. Also, remember it or download it for safekeeping using the provided option. Then press the Next button. Before your wallet is complete, MetaMask will require you to enter the security phrase.
5.	After you’ve created your password, you’ll need to come up with a recovery phrase. It’s a 12-word phrase that serves as your wallet’s username. Before you click the “next” button, MetaMask will explain everything in detail.
6.	Your secret recovery phrase is now shown in the app. If you don’t want to risk losing your wallet, don’t share it with anyone. Also, make a note of it or save it to your computer using the option provided. Then select Next. Before your wallet is ready, MetaMask will ask you to type in the security phrase.
7.	Finally, MetaMask will lead you to the wallet dashboard, where you may access all of the cryptocurrency’s details. Finally, our wallet is now ready to produce its first NFT.

## What is Minting an NFT?

In the case of NFTs, minting is the process of taking a digital asset and transforming it into a blockchain-based digital asset, making it a commodity that can be purchased and sold.

To put it another way, a digital asset is any file that is created electronically. This can be an image, an article, a video, or anything else. Minting is the process of converting a digital asset into an NFT by adding it to a blockchain, usually Ethereum. The Blockchain is a decentralised digital ledger that cannot be amended, edited, or destroyed once an item has been added to it. The asset can be sold on an NFT marketplace once it has been minted and certified as an NFT.


## How to Create an NFT for Free: Step by Step Process

1.	Create a Crypto wallet account: You will need a crypto wallet, as we’ve mentioned at the beginning of this article. To create your wallet account, follow the steps above.
2.	Create an account on an NFT marketplace: There are several NFT Marketplaces, such as
•	Crypto
•	Rarible 
•	OpenSea
•	Binance
•	WazirX. 

You’ve probably heard of OpenSea. If you haven’t heard, OpenSea is the world’s largest NFT marketplace as of 2022. On OpenSea, you may use [Ethereum](/coins/eth) to purchase and trade collectibles, NFTs, trading cards, domain names, pictures, and other fun goods. 
Step 1. To get started, create an account. Then, click “Create” in the upper right corner of OpenSea.

Step 2: You’ll then be directed to a page where you’ll be prompted to link your OpenSea account to an Ethereum wallet.

Step 3: Metamask is definitely one of the most popular choices. When you click it, you’ll be directed to the Metamask website to download the Chrome Extension.

Step 4: After you’ve downloaded the Extension, it’ll prompt you for permission to link your Metamask wallet to your OpenSea account.

Step 5: You’re done! You’ll be redirected to an OpenSea website where you can upload and mint your NFT

Congratulations! Your OpenSea account has been successfully created.

Remember to personalize your NFT marketplace account by uploading a banner image and connecting your social network accounts. The more time you spend making sure your social media accounts are connected, the more visible your art will be; the more time you spend adding detail to your profile, the more visible your art will be.

3.	Make some Art: An NFT can be any digital file, so make whatever art you want, if I were to choose, for example, I’d go with a digital painting. Then I’d save the new artwork as a jpg before uploading it to my new NFT marketplace account and minting it as an NFT.

Here are five platforms for creating, designing, or generating beautiful NFTs:

1.	Fotor: This software employs artificial intelligence to assist non-artistic individuals in creating NFTs. Fotor is a no-code platform that allows you to easily make NFTs by uploading your photo and selecting an art style.

2.	NightCafé: This platform allows you to generate several NFTs in bulk. It creates NFT artworks with Artificial Intelligence-based technologies. NinjaFT is an NFT creation program that works on both Android and iOS smartphones. This app allows you to trade directly on the Binance Blockchain. This program allows you to mint, buy, and design NFTs.

3.	NFT Art Generator: This online NFT maker allows you to make NFTs in gif, png, and mp4 formats. Thanks to the software’s simplicity and intuitiveness, the learning curve isn’t too steep. SketchAr is a program that turns digital art into NFT. It chooses the top artists weekly and turns their work into NFT for free.
Each platform has its own user interface and learning curve. If you’re serious about your NFT adventure, getting to know each of these won’t be a problem.

## How to Sell an NFT

Finally, let’s talk about how to actually sell your NFTs on marketplaces like OpenSea now that we’ve covered the subject of creating NFTs.

Interestingly, selling is not as difficult as it appears. Because OpenSea is one of the most often used NFT markets, I’ll walk you through the complete process of selling NFTs on OpenSea.

•	While linking Metamask to OpenSea, sign in using OpenSea and click “Create,” as seen above.

•	You’ll then be led to a website where you may upload your NFT artwork, fill out any required information, and mint your NFT.

•	You’ll need to upload your NFT artwork and give it a name, as shown in the snip above.

•	The external link will be the OpenSea URL for your NFT. The purpose of your NFT description should be to explain why people should buy your NFT.

•	The “Collection” part follows, where you can include or add your NFT to a certain collection name or category.

•	This next step is to choose a Blockchain for your NFT. I’d recommend “Polygon,” a gas-free alternative to Etherium. Simply put, gas fees are the costs incurred by a creator when completing an NFT transaction. In this situation, NFT makers must pay a price to enter their NFTs onto the Blockchain.

Gas costs can be expensive and depressing for artists. However, if you use Polygon as an option, you won’t have to pay a single penny to mint your NFT.

There are a few things to consider if you want to learn how to make an NFT because everyone else seems to be doing it. For example, the cost is a big consideration. In addition, while you can produce NFTs for free on most platforms, selling them may be a different issue. Putting all these together, your NFT is ready to go to the market.



How to Create an NFT for Free

Undoubtedly, the cryptocurrency market will continue to grow in the near future. It's here to stay, and it's completely transforming the way people invest. However, people are still skeptical of this type of trading because there are platforms that prey on people's gullibility and steal money from a huge number of people. In this article, we'll look at [Crypto Engine](https://crypto-engine.org/), a cryptocurrency trading platform that's been gaining traction among cryptocurrency investors.
 
The platform is reported to feature a high-profit margin that may be achieved in a short period of time, a simple account opening process, and a user-friendly interface. The Crypto Engine robot's official website made claims that consumers can make millions of dollars by using its services to trade [Bitcoin](/coins/btc). External evidence also says that the automobile bot's services brought in $1500 each day, although these assertions are difficult to believe. Are these claims true? Is Crypto Engine a Scam or a legit Trading Platform? Continue reading to find out what we think.
 
## What is Crypto Engine?

Crypto Engine is a beginner-friendly cryptocurrency trading platform. The developers of this software recognise that thousands of crypto enthusiasts are unable to make their first trades because they are unsure about the market's direction. In addition, Crypto fans are frequently unaware of the trading tools accessible to them and want guidance on how to use them.
 
As a result, Crypto Engine was created to fill the void by providing a user-friendly interface that simplifies cryptocurrency trading. You can trade a variety of coins with this software. Furthermore, the software's simplicity made it perfect for novice and experienced users to locate crucial information quickly.

## Crypto Engine Pros & Cons
 
### Pros
 
•	Uses AI to make a market forecast with a 90% success rate
•	Offers multiple crypto assets
•	User-friendly
•	Rapid withdrawal timeline
•	Suitable for both new and advanced traders
•	Enables hands-off trading approach
•	Comes with mobile support
•	Liaises with brokers to enable users to place trades

### Cons
 
•	There's limited information on the development team
•	The success rate is largely unverified
•	Lack of operational licenses
 
 
## Is Crypto Engine Legit?

Crypto Engine employs sophisticated algorithms and technological approaches to forecast future price fluctuations in crypto-assets, but it is deceptive about the software's usefulness. Its automated trading services can execute trades fast and without the need for human participation. However, earnings of $1500 per day are very impossible to achieve, and this figure is merely utilised to entice customers to the platform.
 
Furthermore, the movie on the front page creates the idea that it has ties to major investors. However, none of these people are connected to Crypto Engine in any way. Instead, they are using unscrupulous marketing strategies to sell their product. The website claims to have over 6000 registered members, but our research team could not confirm this.
 
Beginners should be wary of promises that the robot will make them millions in cryptocurrency trading. Even professionals should exercise caution when using its services because Bitcoin markets can be turbulent and unpredictable.


Crypto Engine- Is it a Scam or Legit?

The evolution of the cryptocurrency world cannot be discussed without [“ENJIN”](/coins/enj) coin popping up. The purpose of ENJIN coin, and its advanced features, certainly make it worth talking about. 

ENJIN coin (ENJ) is an ERC-20 token traded on the [Ethereum blockchain](https://coinmarketcap.com/currencies/ethereum/) launched by the company [Enjin](https://enjin.io/). At first, ENJIN was founded as a network, a community gaming platform, in 2009 by Maxim Blagov and Witek Radomski. 

In 2017, ENJIN coin was launched to try and make NFT usage easy for individuals and enterprises. As we all know, there’s a massive buzz around NFTs in the crypto space right now, with many investors seeming to become millionaires overnight. 

On November 25, 2021, ENJIN coin reached an all-time high of $4.85. That was during a favourable period for the crypto markets. Today, the ENJIN coin price stands at about $0.90. 

Despite the comparatively low current position, there are indications that the longer-term fortunes of ENJIN may be better. 
 
## What is ENJIN About 

You probably know a little of what this coin is about, but let’s add to that knowledge. 

ENJIN is designed to integrate with games. Some gaming platforms are exposed to risks, such as manipulation, scammers, and hackers. Virtual items have been reported stolen. In addition, users sometimes complain about transaction fees and speeds, as well as ‘centralization’ locking assets into a single game. 

These all impact the reputation of the game and platform. 

ENJIN was designed to help combat some of these issues and create a safer space for gamers. 
Items bought by players with ENJIN can be used in multiple games and can be traded and sold in an online marketplace with ease. In addition, ENJINwallet can be used to buy, sell, and trade NFTs, while ENJIN coins can be used as a currency. 
With the ENJIN platform, gamers and content creators can manage and trade their NFTs successfully and easily. 


ENJIN tokens run on a proof of work (POW) consensus algorithm, meaning that, like Litecoin, ENJIN tokens are created through mining. The mining process for all cryptocurrencies running on POW is the same. Miners verify their transactions by completing cryptographic equations and then move to the next transaction. For effective ENJ mining, the best way to go about it is by using the ASIC mining setup. 
 

## How To Buy ENJIN 

The first step to buying an ENJIN coin is to have an Ethereum wallet compatible with ER-20 tokens. ENJIN coin is available on a range of exchanges. 
The amount of coins you buy entirely depends on you. As I always mention, cryptocurrency is a high-risk investment; investing depends on the amount of risk you are willing to take. 


## Conclusion 
While the ENJIN coin value has fallen from its November ’21 high, there is potential for this cryptocurrency. Features aimed at making gaming safer and easier are likely to continue finding favour with gamers. In addition, its use in the NFT space aligns it with a rapidly expanding industry. Both could contribute to a brighter future for ENJIN coin. 


You can read more guest articles at [brendanbeeken.com](https://brendanbeeken.com/). 

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