## 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

Cryptocurrency mining is a process by which new cryptocurrency coins are created. Miners are rewarded with cryptocurrency coins for verifying and committing transactions to the blockchain. Here, we explore everything you need to know about a cryptocurrency mining farm.

## What is cryptocurrency mining?

[Cryptocurrency mining](/news/article/mining-company) is the process by which new digital currency units are created. In most cases, mining involves solving complex mathematical problems to unlock transaction data blocks.
The first miner to solve the problem receives a reward in the form of newly minted coins or tokens.
Mining is computationally-intensive, so it typically requires significant amounts of computing power.
As a result, many miners operate as part of a large mining farm, where they pool their resources and share the rewards.

While cryptocurrency mining can be profitable, it often requires specialised hardware and consumes a lot of electricity.
As such, it is not typically recommended for beginners. However, for those willing to invest time and resources, mining can be a rewarding way to obtain digital currencies.

## The benefits of a cryptocurrency mining farm

Cryptocurrency mining can be done solo or in a pool. As it typically requires significant computing power and energy, there are benefits to a mining farm.
Mining farms can provide an important source of income for communities that the global economy has otherwise left behind.

## Why a mining farm?

Solo mining is the process of mining cryptocurrency by oneself. It requires a great deal of time and effort, as well as expensive mining equipment.
Pool mining, or being part of a mining farm, on the other hand, allows miners to pool their resources and share the rewards. This is often done on a large scale, with multiple miners working together in a so-called mining farm.

While pool mining is generally more efficient than solo mining, it can still be quite costly and require significant expertise. As such, cryptocurrency mining is typically only worth it for those with the time, money, and know-how to do it successfully.

## How to become part of a cryptocurrency mining farm

The first step in starting to mine cryptocurrency is to set up a mining farm. This can be done by buying a mining rig, which is a specially designed computer that is optimised for mining, or by signing up for a cloud mining service.
Once you have your mining farm set up, you will need to connect it to a mining pool, which is a group of miners who work together to mine blocks and share rewards.

Finally, you will need to install mining software and run it on your mining farm. This software will connect your mining farm to the mining pool and start mining blocks.
Mining cryptocurrencies can be a profitable undertaking, but it is important to do your research before getting started. Make sure you understand how the cryptocurrency you want to mine works and how much competition there is in the mining space.

Also, consult with financial advisors to make sure that mining is a good fit for your investment portfolio.


Mining Farm: A Good Crypto Option? 

South Korea crypto tax, which was meant to become effective for the 2022 fiscal year, but was [delayed to 2023](https://cointelegraph.com/news/why-nft-adoption-is-so-high-in-south-korea), has again been halted, this time by the president himself. 

South Korea’s newly elected president Yoon Suk-yeol said he would back up the decision on deferring taxation on digital investment gains until the government enacts a new set of regulations called the Digital Asset Basic Act (DABA). 

DABA was created by the Financial Services Commission (FSC) earlier this year and consists of numerous legislations introduced for consumer protection.

DABA applies to the token distribution, nonfungible tokens (NFTs), centralised exchange (CEX) listings, and international finance as a whole. It also acts as a response to U.S. President Joe Biden’s executive order on digital assets.

## Postponed Until 2025

Be it as it may, a 20% tax on cryptocurrency profit, previously scheduled for January 1, 2023, is now postponed to 2025. 

An FSC representative commented that “taxation of investment income from virtual assets should be done after investor protections are in place.”

Suk-yeol asserted it would be frivolous to enforce taxation without a clear legal definition of [cryptocurrencies](/news/category/crypto-coin-news)’ status within the country’s financial system. 

“As such, it would be better to postpone the tax until the crypto market had matured and new legislation was readied thoroughly to ensure transparency and investor protection,” he said.

The yet-to-be-confirmed nominee for deputy prime minister and finance minister, Choo Kyung-ho, added taxing crypto in 2025 seems like a much more acceptable solution.

Last year, South Korea warned that defining crypto taxation laws was imminent and the country’s finance minister Hong Nam-ki then said the government plans to impose taxes on gains from the trading of virtual assets.

The thing is, for now, crypto taxation in South Korea seems to be stuck into a so-called grey legislation area: since cryptocurrencies aren’t considered currency or financial assets. For now, cryptocurrency transactions are tax-free. 


South Korea crypto tax halted to protect consumers

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

Elon Musk, the CEO of Tesla and SpaceX, was sued for $258 billion by a [Dogecoin](/coins/doge) investor on Thursday, alleging him of operating a pyramid scheme to support the cryptocurrency.
 
Plaintiff Keith Johnson filed a case in federal court in Manhattan accusing Musk, electric vehicle firm Tesla Inc, and space tourism company SpaceX of racketeering for promoting Dogecoin and pushing up its price, only to see it plummet.
 
## Plaintiff Keith Johnson's Statement

"Defendants were aware since 2019 that Dogecoin had no value yet promoted Dogecoin to profit from its trading," 

"Musk used his pedestal as World's Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure and amusement."
 
According to the complaint, Warren Buffett, Bill Gates, and others have [questioned 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). Tesla, SpaceX, and Musk's lawyer did not immediately respond to the request for comment.

Johnson's lawyer did not reply to requests for comment on what proof his client has or expects to have that indicates the dog focused meme coins worthless, and the defendants conducted a pyramid scheme.

Johnson is claiming $86 billion in damages, which he claims represents the fall in Dogecoin's market value since May 2021 and wants it tripled. He also demanded Elon Musk and his firms be barred from marketing Dogecoin, and a judge to decide that trading Dogecoin is illegal under federal and New York law.

According to the lawsuit, the selloff of Dogecoin began around the time Musk presented the NBC show ‘Saturday Night Live’ and, playing a fictitious financial expert on a ‘Weekend Update’ segment, called cryptocurrency "a hustle." Tesla said in February 2021 that it had purchased $1.5 billion in bitcoin and had temporarily accepted it as payment for vehicles.

Dogecoin was trading at around 5.8 cents on Thursday, down from its top of almost 74 cents in May 2021.




Elon Musk Dogecoin debacle: The ‘Dogefather’ sued for $258bn 

[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?

On Wednesday, the U.S. federal reserve raised its interest rates by 75 basis points. It's the highest rate increase in 28 years, and it's part of a larger attempt to combat rising inflation, which has roiled the economy and markets, from stocks and bonds to cryptocurrencies.

According to a [statement (https://www.federalreserve.gov/monetarypolicy/files/monetary20220615a1.pdf) released by the Federal Open Market Committee (FOMC), which determines the Fed's monetary policy, the central bank will continue to shrink its balance sheet at the rate stated in May.

According to the Fed, the Fed Funds rate, which is the rate at which commercial banks can borrow and lend their excess reserves to one another overnight, would climb to a range of 1.5 percent -1.75 percent. According to Goldman Sachs, bond traders are pricing in a range of 3.25 percent to 3.5 percent by the end of the year, signalling an extremely quick and severe pace of monetary tightening.

## Bitcoin Skyrockets

After the announcement from the Fed crypto immediately reacted to the news. Following the news, bitcoin skyrocketed, hitting values above $21,000. It has bounced back from an 18-month low. Following a volatile week, altcoins like Solana and Cardano saw double-digit gains.

Ripple and BNB both increased by 9.8% and 7.4%, respectively, while [Dogecoin](/coins/doge), Polkadot, and Avalanche all had a double-digit short-term rise. They each gained 13.73 percent, 11.26 percent, and 14.59 percent.

At the same time, the price of Ethereum (ETH) increased by 6% to USD 1,180. Stocks followed suit, with the broad S&P 500 index climbing 0.17 percent in the first hour after the news was released.

According to CoinMarketCap, global capitalization increased by roughly 4% to $ 950 billion.

## Final Thoughts on the Fed Crypto impact

According to crypto experts, the stock and crypto markets will remain turbulent in the near future due to concerns about inflation, the Russia-Ukraine war, and rising oil costs.




U.S. Fed crypto interest rate hike causes surge

## 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?

Recent Coinbase [news about lay-offs](https://edition.cnn.com/2022/06/14/investing/coinbase-layoffs-bitcoin-crypto/index.html) came as no surprise and confirmed the fact that even the most prominent players can go through a panic attack enhanced by the current happenings within the cryptocurrency industry.

Brian Armstrong, the CEO of the cryptocurrency exchange Coinbase, confirmed laying off over 1,000 employees, warning of an imminent recession and “crypto winter”. 
In his note, Armstrong confirmed the company went on an unnecessary hiring spree during the recent price boom in this sector. 

“We grew too quickly. While we tried our best to get this just right, in this case it is now clear to me that we over-hired,” he admitted.

Armstrong also asserted he did hold numerous talks with the company’s management during the last few days and that they decided that laying off was the only possible decision. 

“We appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto winter and could last for an extended period,” Armstrong wrote in the note to employees, adding that due to quadruple growth in the last 18 months, the company’s employee costs became “too high" to manage this uncertain market effectively.

Laid-off employees were promised a minimum of 14 weeks of compensation, four months of health insurance, including four months of mental health support, and access to Talent Hub, where they can access other open positions at other companies.

The situation escalated after the now-infamous digital lending platform [Celsius Network halted all of its operations](/news/article/celsius-crypto-freezes-withdrawals), including withdrawals, swaps, and transfers.
According to the last information, Celsius reportedly hired restructuring lawyers to advise on possible solutions to its bumpy financial situation.

## Other Crypto Companies Struggle

During the last few days, some other companies within the industry also have resorted to layoffs. One of the biggest exchanges Gemini laid around 10% of its workforce earlier in June, while banking app Curve fired around 100 employees after it reported an operating loss of £37.9 million. Cryptocurrency exchange and wallet BlockFi also confirmed firing approximately 20% of its workforce due to “the challenging market environment”.

On the other hand, Binance CEO Changpeng Zhao stated a potential forthcoming crisis could actually be good for business.

“It’s not the first time we’ve gone through a crypto winter. If we are in a crypto winter, it would be my third and Binance's second. So it's not the first time we’ve been through this,” CZ said.

He added that his company plans to hire more people since “during bull markets, everyone is starting their own projects, and everyone is getting paid a ridiculous amount of compensation. Now the markets are more balanced, so top talents are available, and we want to hire them,” he concluded.

Coinbase, which went public last year with share prices hovering around the $350 mark, has lost its momentum and was trading at nearly $49 per share pre-market at the time of writing.


Coinbase News: Over 1,000 Employees Laid Off

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

Is the Reef crypto project the answer to many cryptocurrency investors' dreams?

As DeFi projects continue to receive a great deal of attention in the crypto space, the lack of interoperability is a serious bottleneck with which users grapple. This is especially the case when they interact with a variety of applications as they try to tap every opportunity that DeFi has to offer.

A platform enabling users to access and interact with all their preferred DeFi applications in one place seems to be an urgent need right now. That's precisely where the Reef crypto project comes in.

Here, we explore the Reef crypto project.

## What is Reef Finance (REEF)?

[Reef finance](https://stake.reef.finance/) is a project that looks to tokenise staked assets and enable decentralised automated market making, synthetic investments, and liquidity mining through a single platform backed by Polkadot.

It allows users to stake their DOTs, BTC, ETH, and other assets to earn from yield-generating synthetic assets. Moreover, the REEF token powers the entire ecosystem and is used for governance, fees, and liquidity mining.

The Reef crypto project has seen much interest from big-name investors like Multicoin Capital and ParaFi Capital. As a result, Reef Finance appears to be well-positioned to become a leading player in the DeFi space.

## How Does Reef Finance Work?

It's a cross-chain blockchain platform that enables users to trade across different DeFi platforms, like Aave, Uniswap, Synthetix, and Compound.

The system does this by pulling liquidity from many sources - which is how it finds the best possible yield rates for users while stabilising network liquidity. Cross-chain connections with other DeFi platforms are enabled through the Reef Basket Engine. This 'basket engine' contains the Reef Smart Yield Engine and the Reef Intelligence Engine.

Reef Smart Yield Engine

The Reef Smart Yield Engine is a machine learning and AI-powered yield engine that allows users to invest in baskets of currencies and earn stable yield rewards. The Smart Yield Engine is powered by user behavior, which determines the engine's methodologies to back the baskets of currencies in which users invest. Five of the key features of the Smart Yield Engine are:

•	user investment flexibility
•	staking duration flexibility
•	basket creation
•	cross-chain investments
•	stable yield rewards.

This enables Reef Finance to become a decentralised finance platform that supports many assets and investment strategies. Thanks to the Reef Smart Yield Engine, users can easily and confidently invest in various assets without worrying about the complexities of managing those assets themselves.

With the Smart Yield Engine, Reef Finance can provide users with the stability and security of a traditional financial institution while still maintaining the freedom and flexibility of a decentralised platform.

## Reef Intelligence Engine

The Reef Intelligence Engine is an important tool for anyone looking to get involved in DeFi. This powerful engine sources data from all over the internet, including asset prices, on-chain data, and liquidity pool activity. The Intelligence Engine can monitor the financial markets in real-time and make micro-adjustments to the Smart Yield Engine with this information.

As a result, the Basket Engine can rebalance portfolios and allocate assets with yield automation. In other words, the Reef Intelligence Engine is the brains behind the operation, making sure that everything runs smoothly.

The Reef Basket Engine combines the two engines - the Intelligence Engine and the Smart Yield Engine. Essentially, it's a machine that helps rebalance and allocate assets based on yield. And it does all of this automatically!

If you're seeking a way to invest in DeFi with less hassle, the Reef Basket Engine is worth checking out.

## Who Are the Founders of Reef Finance? (A Brief History of History of the Reef crypto project)

The Reef crypto project is a relatively new addition to the crypto-verse, but it's already made quite a splash. The team behind Reef are veterans of the industry, with a long history in both traditional finance and crypto. And they're not afraid to show it - the Reef website proudly displays the team's resumes, complete with an impressive education and work experience.
But who are these people, and what does their experience mean for Reef? Good question - let's dive in and find out!

Denko Mancheski founded Reef Finance in 2019. Mancheski, who is from Macedonia, has a strong background in crypto. He previously served as Adel's Chief Technology Officer, an international crypto incubator designed for blockchain innovation. The goal of Reef is to lower the barrier to investing and enable inexperienced and new traders to invest in a variety of cryptocurrencies with automated liquidity and a simplified trading process.

Mancheski created the project to make it easier for people to get into investing. It seems to be working so far! The team behind Reef is constantly expanding, and they've already partnered with some big names in the industry.

So, it looks like things will only get bigger and better for Reef Finance!

## What Makes Reef Finance Unique?

There are plenty of options out there when it comes to cryptocurrency, but not all of them are created equal. The Reef crypto project is unique because it offers a one-stop-shop for your DeFi needs:

•	It leverages the Polkadot network to offer scalable and low-cost financial services. This gives it some serious scalability advantages over other projects.
•	It has built a staking ecosystem that allows users to earn rewards for participating in the network.
•	 It has a team of experienced developers passionate about building the next generation of financial products.

With Reef, you can deposit any crypto and earn interest on it, trade various assets, and even take out a loan if you need to.
Reef is built on several platforms such as Avalanche, Binance Smart Chain, Moonbeam, Plasma, and [Ethereum](/coins/eth), thanks to how the protocol has been designed on Polkadot.

## What Gives Reef Finance Value?

Reef Finance is a unique DeFi project that offers a cryptocurrency swap protocol and liquidity staking platform. If you want to add some extra "oomph" to your portfolio, Reef Finance might be the perfect fit. This up-and-coming cryptocurrency is great for several reasons, but one of the most compelling is its potential uses in the realm of DeFi.

Reef Finance is still in its infancy, but it's already showing a lot of promise. In addition to being a versatile tool for managing digital assets, its edge over other cryptocurrencies comes from many unique features. For example, its native token (REEF) can be used to earn interest on deposits, the stake for governance, and participate in liquidity mining pools.

In other words, it's got a lot of utility. But what sets Reef apart is its focus on security. Its developers have designed a robust security protocol that includes multi-sig wallets and fraud detection features. As the world of DeFi continues to grow, Reef Finance is positioning itself as a safe and reliable way to participate.

All of these factors combine to give Reef Finance significant value. If you're looking for a cryptocurrency with real-world potential, Reef is worth checking out.

## How to Use Reef Finance

The protocol provides a suite of DeFi products and services, including staking, liquidity mining, trading, and investing. Reef also offers yield rewards and other DeFi services that can be easily integrated into the highly upgradable, forkless network.

The native token of Reef Finance is the REEF token, which can be used for liquidity mining, staking, lending, borrowing, and paying fees.
In addition, traders can trade REEF in the cryptocurrency exchange to take advantage of the best yield rates through an automated process.

## Final Thoughts

Reef Finance is a unique project that can revolutionize how finances are handled. Using blockchain technology and its own Reef Intelligence Engine, it can provide a more efficient and secure way for people to conduct financial transactions.

The Reef crypto project aims to provide financial services for the world's 2 billion unbanked population. The Reef Intelligence Engine will allow users to borrow money, invest in projects, and use other financial services.

Reef Finance is unique in its focus on providing these services to the unbanked population. This gives Reef Finance value because it provides a much-needed service to those who don't have access to traditional banking services.

The founders of the Reef Crypto project have a long history in the finance industry and bring years of experience and knowledge. This makes Reef Finance a valuable investment opportunity.


Reef Crypto: Everything You Need To Know

[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

Celsius Network Ltd, one of the major crypto lenders and main players in the world of decentralised finance, confirmed late Sunday that it was [halting withdrawals, swaps, and transfers](https://markets.businessinsider.com/news/currencies/celsius-price-crash-crypto-market-outlook-bitcoin-ethereum-terra-luna-2022-6#:~:text=Crypto%20lender%20Celsius%20has%20frozen%20all%20withdrawals%2C%20swaps,month%20after%20Terra%27s%20luna%20cryptocurrency%20crashed%20to%20zero.) after weeks of speculation about its ability to make good on the increasingly large returns it offered on certain of its products, including yields as high as 17%.

Crypto loan solutions have grown in popularity, with numerous firms launching offerings in the past year. Celsius raised $750 million in the capital last year from investors including Caisse de Dépôt et Placement du Québec, Canada's second-largest pension fund. Celsius was priced at $3.25 billion at the time. Celsius has $11.8 billion in assets as of May 17, a drop of more than half from October.

The decision to stop withdrawals effectively halted a platform with registered entities all over the world and billions of dollars in digital coins under management, ramping up a selloff in the broader market that was already underway due to concerns about the possibilities of tightening monetary policy ahead of a Federal Reserve meeting this week.

While Celsius crypto is a centralised platform with operations and staff that distinguishes it from DeFi, its deep involvement in the space, including investment in Terra and various risky strategies devised to earn high yields that it can then pass on to its users, has raised concerns about its viability.

Celsius crypto is a key player in the market for digital yield products, letting users lend out their tokens as collateral for other crypto initiatives. Traders were able to earn yearly rates of up to 17% in exchange for lending their tokens.

Celsius's crypto withdrawal ban early Monday was a U-turn after the company had spent many days denying claims that consumers couldn't make withdrawals. At the weekend, CEO Alex Mashinsky challenged sceptics to find "even one individual who has an issue withdrawing. Celsius crypto stated that the redemption freeze was implemented for the benefit of our entire community to control liquidity and operations while we take steps to preserve and safeguard assets.

The Celsius crypto move spurred a collapse across cryptocurrencies, with their value falling below $1 trillion on Monday for the first time since January 2021, raising concerns that the meltdown might spread to other assets or firms.

## Bitcoin Crashes

Following Celsius's crypto statement, [bitcoin fell to an 18-month low of $22,725](/news/article/bitcoin-price-crash-celsius) before modestly rebounding to about $23,265. The second-largest cryptocurrency in terms of market capitalisation Ethereum fell as much as 18% to $1,176, its lowest since January 2021. Companies with a stake in cryptocurrencies have previously warned that drops in token values might have repercussions, such as triggering margin calls.

Markets continued to fall on Monday following the release of U.S. inflation figures on Friday, which revealed the highest price increase since 1981, prompting investors to bolster their bets on Federal Reserve rate hikes. According to research, Celsius’s crypto token has dropped 97 per cent in the last year, from $7 to about 20 cents.


Investors Panic as Celsius Crypto Freezes Crypto Withdrawals 

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?

## Bullish or Gripped by Fear? A Guide to the Crypto Fear and Greed Index

Are you feeling confident or fearful when it comes to crypto investments? If you're unsure, don't worry - you're not alone. Sometimes, it's hard to predict whether the market is headed for bullish or bearish territory. That's where the [crypto Fear and Greed index ](https://edition.cnn.com/markets/fear-and-greed) comes in. This guide is all about this important market indicator.

## What is the Fear and Greed Index and How is it Calculated?

The crypto Fear and Greed Index was created to help crypto investors make better decisions. It does this by taking into account six different factors: volatility, social media, trends, Google search data, market momentum, and analyst ratings. Together, these factors give a good overview of how the market feels.
A high index value means that the market feels greed, while a low index value means that the market is feeling fear. The index is updated daily and can be a helpful tool for crypto investors who want to stay up-to-date with the latest market sentiment.

## How Does the Fear and Greed Index Fluctuate with the Market Conditions?

The Fear and Greed Index is a much-used tool for measuring market conditions. The index fluctuates between 0 and 100, with a reading of 0 indicating extreme fear and a reading of 100 displaying extreme greed. Readings below 20 are considered to be indicative of a bear market, while readings above 80 indicate a bull market.
The crypto Fear and Greed Index is of use to crypto investors. It can help them gauge market conditions and make informed investment decisions.

## What are Some Key Takeaways from the Fear and Greed Index Report?

The crypto Fear and Greed Index measures the level of fear and greed in the crypto market and provides valuable insights into market sentiment. The index is based on various factors, including social media activity, search engine data, and news stories. The index is updated daily, and investors can use it to gauge whether the market is feeling fear or greed.
Some of the key takeaways from the Fear and Greed Index report are that fear is currently dominating the market, and that investors are becoming increasingly worried about the future of crypto.
The index also shows that greed is slowly creeping back into the market, but it remains at fairly low levels. The report depicts a market that is cautious and fearful, but is gradually beginning to rebuild confidence.

## What is Causing Current Market Volatility and What Does it Mean for Investors?

The current market volatility is driven by several factors, including the crypto Fear and Greed Index. Crypto fear is the fear of missing out on the next big thing in the crypto world, and it's driving people to invest in new and unproven projects.
The greed index measures how much people are willing to pay for a given asset, and it's currently at an all-time high. This means that people are buying assets at unsustainable prices, and they're likely to pull out of the market as soon as they start seeing losses. This could lead to a sharp drop in prices, which would be bad news for investors.
Remember, though, that market volatility is normal and sharp downturns are often followed by periods of strong growth.
So, the long-term outlook for the market remains positive despite some likely bumps in the road.
The current market volatility is being caused, in part, by crypto fear. This is the fear of missing out on the next big crypto investment. As cryptocurrencies like Bitcoin have exploded in value, more and more people are looking to get in on the action. This has created a situation where there is more demand than supply, driving prices up.

However, this situation is not sustainable and, at some point, the market will correct itself. This could mean big losses for investors who are not prepared for it.
The other factor contributing to market volatility is the greed index. This is a measure of what investors are willing to pay for stocks relative to earnings.
When the greed index is high, investors are paying more for stocks than they are worth. This often happens before a market crash, as investors become overly optimistic about future growth. You can't truly predict the movements of the markets, but understanding the factors that contribute to volatility can help investors make better-informed decisions about when to buy and sell.
 
## Can Investors Use the Fear and Greed Index to Make Better Investment Decisions?

By taking into account the various indicators it is based on, the Fear and Greed Index provides a valuable measure of investor sentiment.
Investors can make use of the Fear and Greed Index to make better investment decisions. When the index is in "fear" mode, it may be a good time to buy crypto assets, as prices are likely to be low. Conversely, it may be a good time to sell when the index is in "greed" mode, as prices are likely to be high. Of course, no single tool can provide all the information necessary to make informed investment decisions, but the Fear and Greed Index can be a useful tool for crypto investors.
Hence, the crypto Fear and Greed Index is a helpful tool for crypto investors. It measures the market sentiment by taking account of news coverage, social media activity, and trading activity. By tracking these indicators, the index can help investors make better-informed decisions. For example, if the index shows that the market feels fearful, this may be a good time to buy. That is because prices are likely to increase when fear subsides.
Similarly, if the index indicates that the market is in a state of greed, this may be a good time to sell. That is because the index suggests that prices are likely to fall when greed recedes. While the index is not perfect, it can be a helpful tool for crypto investors who want to take advantage of market cycles.

## Other Factors Investors You Should Consider

When it comes to crypto investments, investors should consider a few factors. The first is the crypto Fear and Greed Index.
A second is the amount of institutional money flowing into the crypto market.
While crypto-assets are still largely unregulated, some big investors are beginning to take notice. The increasing institutional interest could help drive up prices in the long run.
Therefore, crypto investments are notoriously volatile, and investors should be aware of the associated risks before making any crypto investments.
Crypto investments should be considered in the context of a broader portfolio. Because they are so volatile, crypto-assets should not make up the entirety of an investment portfolio. It can offer the potential for high returns to those with risk tolerance.

## Conclusion and Final Thoughts

The crypto Fear and Greed Index can prove itself to be a valuable tool for crypto investors. It takes into account various indicators to provide a measure of investor sentiment. By tracking the index, investors can make better investment decisions.
When the index is in "fear" mode, it may be a good time to buy crypto assets, as prices are likely to be low. Similarly, when the index is in "greed" mode, it may be a good time to sell crypto assets, as prices are likely to be high.

However, crypto investments are notoriously volatile and risky. As such, investors should only allocate a small portion of their overall portfolio to crypto assets.


Crypto Fear and Greed Index: Bulls or Bears? 

Interested in mining cryptocurrencies and becoming a contributing member of the blockchain? In that case, you might want to learn more about the best crypto miner.

Over the past few years, the culture of investing in crypto has become quite popular. To make money from crypto, you have two options; trading and mining. Trading crypto coins is convenient and more accessible. Whereas crypto mining is expensive but a lucrative option.

Though investing in crypto mining is a big-budget task, investors find it highly rewarding. How to become a miner? You have to set up a crypto mining rig through which you can mint coins and become a contributing miner of the blockchain. A rig needs both mining hardware and software.

Wondering what the best crypto miner is? We've listed the best mining software and hardware to help you set up your own mining rig.

## Best Crypto Mining Hardware

Crypto mining hardware uses various specialised technologies for mining cryptocurrencies. The recent ones mostly rely on GPUs (Graphics Processing Units), ASIC (Application-specific Integrated Circuit), or FPGA (Field Programmable Gate Array).

Here's some of the best crypto mining hardware you might want to invest in!

1. Antminer S19 Pro
Antminer S19 Pro is a highly advanced device for mining [Bitcoins](/coins/btc) and SHA-256 coins. The device offers you a solid efficiency of 29.7 j/TH, with which you can earn $12 daily. Besides, it has the potential to generate revenue of up to $10,000 yearly. Because of that, it gives you a 195% return on your annual investments.
This ASIC-based miner can work in an environment with 5 to 45 C. S19 Pro maintains the hash rate of 110 TH per second. The device will need 3250W and costs around $0.1 per kilowatt. But, the efficiency and return rate makes this device ideal for crypto mining.

2. DragonX WhatsMiner M30S++
DragonX WhatsMiner M30S++ is another powerful hardware for mining crypto. This device also uses the ASIC system and can generate 86Th per second. It features three chipboards and has a chip size of 8nm.
WhatsMiner M30S++ can mine Bitcoins along with 9 other SHA-256 coins. It has an ethernet interface, and it does not require software or host computers. M30S++ works between 200 to 240 volts and consumes around 3600W.

The device lets you earn around $12 daily, and you can accumulate up to $4,350 every year. Also, it offers you an efficiency of 0.038j/GH. However, M30S++ is not the ideal choice in terms of energy consumption, and it operates best for advanced mining purposes.

3. AvalonMiner 1166 Pro
AvalonMiner 1166 Pro is one of the best crypto miners for its hash rate. The device is also an ASIC, capable of dealing with 81TH per second. You can use 1166 Pro for the mining of Bitcoin, Bitcoin SV, Bitcoin Cash, and other SHA-256 currencies.
This AvalonMiner can earn you around $3 daily and maintain an efficiency of 0.042 j/Gh. It costs only $0.01 for each kilowatt consumption and generates over $1000 revenue annually. With this miner, you can make substantial profits by mining Bitcoin and other cryptocurrencies.

## Best Crypto Mining Software

Once you have invested in the right hardware for your crypto mining rig, the next step is to choose some of the ideal mining software or apps to begin mining. Here are some of the best crypto mining software you might consider!

1. CGMiner - Overall best mining software
CGMiner is the best crypto miner because of the customisation power and the compatibility with many mining systems. It is an open-source platform with cross-platform compatibility. With this software, you can work with Windows, Linux, and macOS for mining.

CGMiner not only supports several devices, but it can also work with different crypto mining pools. Its interface is command-line, which is based on the C language. With simple one-line commands, you can track system performance and adjust settings.

Apart from that, CGMiner can also work with varying hash rates without affecting its functioning. Also, the software is always prepared for network disruptions, as it has a cache and archive to save the data. It is an ideal free crypto mining software you can use with your different devices.

2. MultiMiner - Best crypto miner for beginners
MultiMiner software offers a highly intuitive interface that is best for beginners. It comes with an easy-to-navigate GUI. A novice would be able to navigate through the app easily.
Moreover, MultiMiner can work with varying systems, including Windows 10, Linux, and macOS. But, for macOS and Linux, you might need extra apps for installation. Besides, it can support all hardware, including GPU, FPGA, or ASIC.

When you set up the software, it can automatically detect what hardware you are using. According to that, it gives you options for coins you can mine and the method you would use for mining.

3. [Awesome Miner](https://www.awesomeminer.com/) - Best for large scale mining
If you want to step into crypto mining at a larger scale, Awesome Miner would be an ideal choice for you. This miner can work with over 200,000 ASICs along with 25,000 GPUs and CPUs. With this much capacity, Awesome Miner offers you great scalability.

Other than scalability, you can also have a system to manage your crypto-mining rig centrally. In addition, you can ensure efficiency and maintain revenue. The software also allows you to keep track of your income, power consumption, temperature, and other features.

It is a cross-platform software that can support the mining of several currencies. Moreover, it has the auto-recovery feature that ensures the least downtime. Besides, Awesome Miner lets you access all these features for free. That's why in a large-scale crypto mining setup, this software can be pretty handy.

Conclusion

Crypto mining has become a popular trend. The reason is that it allows you to mine crypto coins and makes you a contributing member of the blockchain who enjoys distinguished benefits. However, crypto mining is a big-budget task; that's why you need to be diligent about how you set up your crypto mining rig.

For this reason, it's important to get familiar with both mining devices and apps to help make the right decision. One way to achieve this is by going through our list of some of the best crypto mine hardware devices and software you can invest in to make better profits.


Best Crypto Miner: Top Mining Tools

This guide will help you learn about the different types of cryptocurrency wallets, how they work, and which one to choose. Once you've read this article, you'll have a better idea of which crypto wallet is best for you. 

The use of cryptocurrencies has increased for both businesses and individuals alike. It has revolutionised the world economy and empowered the masses. But this also poses a threat of cyber theft that could result in immense financial losses. One way to keep your cryptocurrencies secure is to invest in the best wallet crypto traders use, which will keep your money safe and help manage your digital assets.
There are many to choose from, which helps explain why so many people Google 'best wallet crypto' happen every day.

## So, what is the answer to the search 'best wallet crypto'?

There are various types of wallets in the crypto market. However, they generally fall into two categories; hot wallets, also known as software storage, and cold wallets, often referred to as hardware wallets.

One might wonder which is the best wallet crypto users choose: hot or cold? Let's get some insights into it and explore some of the best crypto hot and cold wallets!

## Why Do You Need a Crypto Wallet?

You can easily store your crypto coins in the exchange from where you bought them. It is more convenient and less complex, but does it ensure the security of your coins? Unfortunately, the answer is negative. Your crypto money in the exchange is always vulnerable to cyber attacks.

Having a secure and efficient crypto wallet is necessary, especially when you are making investments on a larger scale. These e-wallets provide more security and speed up the transaction processes. In addition, some of the best crypto wallets in the market would allow more liquidity, support for different coins, ease of use, and better control over your assets.

## What are Hot Wallets?

Hot crypto wallets are the most commonly used e-wallets for holding crypto coins. These wallets have internet accessibility, which allows you to have smoother transactions. You will be able to conveniently liquidate your assets and make trades on the go. Besides, hot wallets offer you to sign up for free. They also have an intuitive interface, so managing one is not a problem.

Though hot wallets are decentralised, there is still a risk of cyberattacks. They are often protected with only one password, making it easy for criminals to hack in. That's why hot crypto wallets still pose a security threat for crypto investors. Nonetheless, this type of wallet is suitable for people who prioritise convenience and liquidity for quicker trading.

## How do they work?

Accessing cryptocurrency is only possible if you use your private keys. These keys need to be protected for which you have e-wallets. For this reason, a hot crypto wallet provides you with soft storage where you can securely keep your private keys.  

Hot crypto wallets are software that you can run on your device's storage and cloud servers. They can support PCs, laptops, smartphones, and other gadgets for running the software and provide you with an interface through which you can access your account.
To manage a hot e-wallet, you would require continuous internet access. But you can easily set up transactions and manage your crypto coins because of its easy-to-use interface.

## Features of Best Crypto Hot Wallets

1.   Convenience
Hot wallets are best known for their convenience and user-friendly interface. Handling a hot wallet is as easy as operating any other app on your phone. Its interface gives you straightforward options for initiating transactions, checking balances, liquidating funds, and more. With this convenience, you can make quick trades.
2.   Faster Trading
With high convenience comes faster trading. With these wallets, you can access your crypto money through your smartphone and trade anywhere. It speeds up the transaction process, so you can always be active.
3.   More Liquidity
Another valuable feature of hot wallets is that you can liquidate your funds instantly. That means you can easily convert your crypto money into cash whenever you want.
4.   Compatible with Multiple Currencies
Hot wallets also allow you to hold more currencies at the same time. These wallets are compatible with numerous cryptocurrencies in the market so that you can invest in multiple currencies. 
5.   Free Sign up
Some of the best crypto hot wallets also let you sign up for free. You won’t need any fee for setting up your wallet and can start trading instantly.
6.   Backup
Backup is another essential feature of a reliable hot wallet. Backups on hot wallets work the same way as other socialising apps. The backup option ensures that you don't lose any wallet data in case of any mishap.

## What are Cold/Hardware Wallets?

This type of wallet provides a higher level of security to your digital assets. They are entirely offline and do not require internet access all the time. This means your digital assets won't be vulnerable to cyber attackers.

Hardware wallets usually come in the shape of USBs, allowing you to access their contents by connecting them to your device whenever needed. You can remove it when it is not in use, making it inaccessible to cyber attackers.
Though these wallets are much more secure than hot wallets, they do not give you the ease of use. Moreover, they don’t offer instant liquidity, and their trading speed is relatively low. That's why these wallets aren't generally used for trading activity. However, they are the most secure option for holding significant crypto funds for long-term usage.  

How do they work?

Like hot wallets, hardware or cold wallets can also hold your private keys. But the difference here is that they are USBs that can save your cryptographic keys distant from the internet. This hardware has a PIN only through which you can access your account.

These hardware wallets also enable you to sign every transaction you make. You can add your unique signature to verify each transaction from your wallet. Besides the PIN code, there are in-device signatures for transactions. So, even if someone gets the possession of your private key, they would still fail to make any transactions because of its in-device signatures.

Features of Best Crypto Hardware Wallets

1.   High-Level Security
Cold or hardware wallets have the ideal security for keeping your large sums of crypto coins. It remotely saves your private keys from the internet, denying access to hackers. In addition, the USB has a PIN and a unique in-device signature without which no transaction is possible through your wallet.
2.   Operated Offline
These wallets are operated entirely in offline mode. You won't need to keep them connected to the internet all the time, which enhances their security. While connected to the internet, they are still safe from cyberattacks because of the in-device signature protection for transactions.
3.   Less Liquidity
Another feature of cold wallets is that they offer less liquidity than hot wallets. The reason is that they are designed for holding crypto coins for the long term and making transactions on a large scale.
4.   Direct Trading
Best crypto hardware wallets would also offer you the option of wallet-to-wallet trades. When trading through an exchange, you will have to pay fees and wait for them to process your transactions.
Direct trading breaks you free from relying on the exchange for proceeding with your trades. You no longer have to pay the transaction or withdrawal fee on each transaction.   
5.   Support Multiple Crypto Coins
A hardware crypto wallet can also support more than one cryptocurrency simultaneously. You can hold Bitcoin, Ethereum, and other altcoins altogether. But different hardware supports specific cryptocurrencies.

## Hot Wallet vs Cold Wallet

Hot and cold wallets have their own unique features, offering different benefits. The debate of hot wallets vs cold wallets always boils down to your choice of security over convenience or vice versa. Ideally, choices should be based on needs.

If you have to be involved in frequent trades, you might look for a hot wallet's convenience and better transaction speeds. However, for your long-term crypto savings, you would want the enhanced security of a cold wallet. Since we have to deal with both scenarios in the crypto world, choosing one over another is not the wisest choice.

Therefore, it is wise to blend both and follow the "don't keep all of your eggs in one basket" strategy. You may use a hot wallet for your day-to-day transactions and a cold wallet to secure your cryptocurrencies. Make sure to use your hot wallet primarily for transactions and do not store large chunks of your crypto coins in it.

## Best Hot Wallets for Crypto

Here are some of the leading crypto wallets with hot storage on the market!

## Coinbase Wallet

Coinbase wallet is a project of the Coinbase Exchange. They offer hot storage to users for trading their digital assets and holding them. This wallet is highly convenient, has an intuitive interface and can easily be handled by a beginner. Not only does it allow the trade and storage of your coins, but it also works for NFTs.

In addition, you can store more than500 different cryptocurrencies in your wallet. As it is integrated with the Coinbase exchange, you will also enjoy smoother transactions using this wallet.

## MetaMask Wallet

MetaMask is another great software-based hot wallet. It is an open-source wallet, so you won’t have to pay any signup fee for setting up your wallet. MetaMask works best with the Ethereum blockchain and can deal with ERC-20 and Ethereum tokens.
It is also a beginner-friendly wallet as managing coins is relatively easy with this wallet. Besides, if you are using a Ledger hardware wallet, you can easily integrate MetaMask with them.

## Trust Wallet

Trust wallet has associations with Binance, making it one of the most credible hot wallets. It also has a free to sign up option, so it doesn't cost you an account setup fee. The wallet supports numerous blockchains and all sorts of digital assets.
Trust Wallet's user-friendly app ensures you do not face hurdles in the transactions. You can also earn daily interests and track coin prices.

## Best Crypto Hardware Wallets/Cold Wallets

### Trezor Model One Hardware Wallet

Trezor is a trusted name among hardware wallets, and the Trezor Model One USB can be a good choice for cold storage. It allows for more than 1,000 digital assets and ensures their complete security through a PIN and multiple signatures.

### [Ledger Nano S](https://shop.ledger.com/?r=7d474bfdcfa2&tracker=msa)

Ledger Nano S is another offline cold storage for your crypto investments. It features an OLED screen for clear display and two buttons for confirming or rejecting the transactions. This highly secure hardware supports more than 1100 crypto coins, including other digital assets.

### SafePal S1

SafePal S1 is an affordable yet secure device that has ties with Binance. This device can store all the major coins, including Binance coins, Ethereum, [Bitcoin](/coins/btc), and ERC-20 coins. You can operate and manage your wallet through the SafePal app, making the transaction processes quite simple.

Final Thoughts

You have numerous choices for digital wallets. 'Warmness' should inform the decision of which crypto wallet is best for you. This refers to the ratio of convenience to security. The easy-to-use wallets are hot, while the secure ones are cold or hardware wallets.
Choosing any one of them is not the ideal choice. Hot wallets are best for day-to-day transactions and cold ones are suitable for keeping your long-term investments safe. So, you should go for a blend of both to enjoy security as well as convenient transactions.


The Best Wallet for Crypto - Hot or Cold?

The U.S. payment operator PayPal has some [news to share](https://newsroom.paypal-corp.com/2022-06-07-PayPal-Users-Can-Now-Transfer-Send-and-Receive-Bitcoin-Ethereum-Bitcoin-Cash-and-Litecoin) – the company finally decided to respond to its users’ demand by allowing them to transfer cryptocurrencies, including to external wallets. 

Two years after the fintech behemoth expanded its activities to accepting digital currencies, the customers are now having the choice to self-custody of their digital assets.  

The new add-on is now available only to select U.S. clients but will be expanded out to all eligible U.S. customers in the next few months.
Back in October 2020, the company decided to allow cryptocurrency trading for Bitcoin, Ethereum, Litecoin and Bitcoin Cash. However, users couldn’t move their assets off the platform without transferring it to fiat first. 

Jose Fernandez da Ponte, Senior Vice President and General Manager said that the new attribute was the one users have been asking for the most.

Now, when a client has crypto stashed somewhere else and needs to secure it, they’ll be able to convey it to PayPal from an exterior address. “They (users) will additionally ship crypto to anybody who’s within the PayPal system,” said Fernandez da Ponte.
He also confirmed the company has been assigned a BitLicense, a New York term for all crypto-related businesses. 

Fernandez da Ponte added that the main reason the company entered the crypto space was because of its belief that a sizeable part of trade is going to move to cryptocurrencies. Trade in terms of buying or selling tangible and intangible products or services with cryptocurrency. 
The focus on trade, rather than making itself an exchange, allows PayPal to function without fees related with cryptocurrency transactions by letting its users’ using tools like ‘Checkout With Crypto’. 

## Paypal news bringing the stock up

It's still not known how much digital assets are adding to PayPal's bottom line, especially since the company didn’t reveal the exact numbers of how many people are using its Bitcoin or Ethereum service. 

It is to believe though, if compared with much bigger crypto businesses such as the Coinbase or Robinhood, that the volume of cryptocurrency transactions plunged substantially along with the recent market downturn. Paypal also recorded a fall in its quarterly results. The company’s first-quarter revenue for 2022 stood at $6.48 billion. Even though this represents a year-over-year increase of 8%, Paypal lost 32% in operating income, dropping to $711 million. 

The company reported a net income of $509 million with $0.43 earnings per share, which is down 53%. Earnings per share decreased by 28% on an adjusted basis to $0.88. That is why it’s even more likable that the company hasn’t been backing off its ambitious crypto plans.
Fernandez da Ponte said he's being calm.

"There’s a lot of discussion about crypto winter, but it’s important to see beyond that," he commented. "The macro trend (of broad cryptocurrency adoption) is undisturbed."

After the news went global, shares of the company were up by 2.05% at $88.59.

There seems to be allot of positive momentum with Fintech payment services adopting crypto with [Mastercard going on a crypto hiring spree](https://www.monitalks.io/news/article/mastercard-uk-hiring) to ramp up its efforts in the space. This can only bode well for the industry which is becoming increasingly integrated with the traditional financial ecosystem.



PayPal allows crypto transfers to external wallets