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5 best places to stake Ethereum in 2022

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5 best places to stake Ethereum in 2022

Ethereum is the second-largest cryptocurrency in the world, by market cap. Second only to bitcoin, the first and biggest cryptocurrency.

Ethereum, like all other cryptocurrencies, has a consensus algorithm built into its blockchain. A consensus algorithm put simply, is a general agreement reached by all the nodes of the blockchain, as to the current state of the network.

There are several kinds of consensus algorithms, including 

  • Proof of work
  • Proof of stake
  • Proof of Importance
  • Proof of authority
  • Proof of Capacity, among others.

Ethereum in this case operates on a proof of stake consensus algorithm. This means that holders of this cryptocurrency can choose to lock (or stake) their assets, to become validators on the network. 

The network chooses validators randomly. On successful validation, proof of stake token holders receive small rewards, equivalent to the amount they staked, and how long their assets were locked.

The proof of stake algorithm is more energy-efficient than the proof of work algorithm.

 

What is Staking?

Staking is the process of locking one’s cryptocurrencies for a fixed period. During the staking period, the coins are inaccessible to their holder. 

The network uses these staked assets to verify and confirm transactions. On successful validation of a transaction, the network mints new coins and rewards the stakers with a small amount, depending on how much was staked and how long the coins were locked for.

Staking can be a great way to generate passive income, especially since some cryptos offer higher interest rates than others. A good example is Ethereum. Currently, Ethereum offers an APY (annual percentage yield) of about 5%.

5 Best Places For Staking Ethereum

Ethereum is a popular choice for individuals looking to generate income without having to actively trade. 

The cryptocurrency operates on the proof of stake algorithm, meaning that it can be locked for a specific period, and can multiply if left alone for long enough.

Below (in no particular order) is a list of some of the most popular options, if you intend to stake some of your Ethereum holdings.

Lido 

Lido is currently the most popular Ethereum-based staking platform. The platform allows you to stake Ethereum in both high and low volumes. Lido holds more than 30% of all 13 million hosted on the beacon chain, according to Dune analytics. Lido also supports the staking of other POS cryptocurrencies like Solana, Kusama and Polygon. On staking Ethereum, you should see a stETH ticker on your dashboard. This ticker represents ‘staked Ethereum’. In essence, it serves as a receipt of sorts, representing the amount of staked Ethereum you have.

Rocket Pool

Rocket Pool is an Ethereum 2.0 staking platform. It is open-source and is the first truly decentralized staking pool. Rocket Pool supports liquid staking, which is better for Defi, Open source audited smart contracts that make sure that your funds are never accessible to node operators, network redundancy, and smart nodes that allow anyone to freely stake Ethereum and earn high returns. Rocket Pool utilizes smart contracts to achieve a truly decentralized, permissionless platform.

BlockFi

BlockFi currently offers an APY of 3% on Ethereum staking. The platform offers regular crypto benefits such as lower trading fees, lending, interest-bearing accounts and convenient storage. Staking on BlockFi means that your assets remain liquid and can be traded as the user wishes. On BlockFi accounts, there is no minimum balance requirement.

Celcius

Celcius was founded by Alex Mashinksky and Daniel Leon in 2017. The platform is one of Lido’s biggest clients. This means that it is one of the biggest holders of stETH (or staked Ethereum). The company currently has about $470M of stETH. Celcius stakes its customer deposits in Defi platforms like Lido, receiving staked Ethereum (stETH) that increases in value over time. At the end of the staking period, it pays its customers the promised APY and makes a profit off of the rest.

Binance

Binance is by far the biggest cryptocurrency trading platform in the world. Binance currently offers an APY of about 5.2%. One of the highest on this list. Binance requires no fees for staking, and allows users to ‘unstake’ their tokens whenever they choose. The only downside is that users forfeit their staking rewards if they cancel at any time before the expiration of their staking period.

In Conclusion

There are no good or bad places to stake your Ethereum. It is only important to conduct proper research before choosing a staking platform, or even investing in cryptocurrencies at all.

Remember to only part with money you can afford to lose.

Jim Haastrup Author
Crypto Writer

Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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Why Is Hong Kong Positioned as the Most Crypto-Ready Country

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VOC, Voice of Crypto, Hong Kong, Crypto Hub

With a score of 8.6 out of 10, Hong Kong ranked as the most Crypto-Ready Country. The number of crypto ATMs proportional to the population and geographical size and the number of blockchain startups per hundred thousand people acted as the factors to calculate each country’s crypto readiness.

Even though public acceptance is the most important aspect of maintaining crypto’s existence, mainstreaming crypto adoption is difficult without the government’s help. For mainstream crypto adoption, the country’s government must set up infrastructure to support and complement the people’s and technology’s needs.

Any country’s readiness to adopt cryptocurrencies include crypto ATM installations, regulations favoring crypto, startup culture, and a fair tax regime. Based on these factors, a study report by Forex Suggest revealed that Hong Kong stood first among the top countries which are prepared for widespread cryptocurrency adoption. 

The United States and Switzerland have a larger crypto infrastructure than the island nation. Despite this, they secured lower place, with 7.7 and 7.5 crypto-readiness scores, respectively. The list below shows the top twenty countries with their crypto-readiness scores. 

Source: Forex Suggest study report

Since the number of crypto ATM installations proportional to the population and geographical size of the jurisdiction and the number of blockchain startups per 100,00 people was the most important factor, Hong Kong’s smaller land mass helped the country top the list. 

The data on the CoinATMRadar features that the U.S. accounts for 88% of the global crypto ATM installations. On the other hand, Hong Kong installed a network of merely 146 crypto ATMs. This number accounted for just 0.4% of crypto ATMs across the world. However, since this island country has a small geographical area, the residents of Hong Kong are never more than a distance of 7 kilometers (4.3 miles)  from a crypto ATM.

When we check the same for Switzerland, it has installed a crypto ATM every 271 km, i.e., every 161.5 miles. The U.S. has 168.3 miles or 271 km distance between every crypto ATM.

 

Source: Forex Suggests

Taxes On Crypto Assets

One major hindrance to mainstream crypto adoption is the tax levied on crypto assets. Countries like Hong Kong, Switzerland, Panama, Portugal, Germany, Malaysia, and Turkey have secured the top positions in the list of nations with the lowest crypto taxes for capital gains.

Interest In Cryptocurrency

Source: Forex Suggest

Apart from these, the sentiments of the financial giants or investors of the country also affect the country’s crypto-readiness. The fact that the investors of some major economies have been showing increasing interest in the crypto world indicates a healthy pro-crypto global competition.

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Samvida is a versatile writer/editor passionate about reaching out to people of different precincts by using words as an effective means. She’s a law graduate residing in Bihar, India. She holds a curious persona, often delving into worlds of astrophysics, technology, crypto, law, and international relations.

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The Pros And Cons of Metaverse For Small Businesses

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VOC, Voice of Crypto, Metaverse

Since its advent, the metaverse has been one of the biggest buzzwords in the blockchain and crypto industry. Even in its early stages, the concept fetches the interest of several investors and business organizations worldwide.

The metaverse promises to offer its users a much more immersive, interactive, and collaborative environment than the internet has offered up until now. 

The metaverse is undoubtedly a leap forward in the development of internet technology. This potential of a virtual world similar to the real world and without any physical limitations in transactions and communications has led big players like Meta (Facebook) to make big investments in the budding space. In this article, we have brought to you the good and the bad of the metaverse universe.

This potential of a virtual world similar to the real world and without any physical limitations in transactions and communications has led big players like Meta (Facebook) to make significant investments in the budding space. 

Small Businesses And The Metaverse

Often this ecosystem is misunderstood as a platform for the global conglomerates to put their pro-tech bent on display, a perplexing product designed for selected strata of society who can showcase their NFTs or a new sector in the development of the gaming industry.

Contrary to this belief, Metaverse offers everyone a whole new world filled with numerous opportunities for consumers and business organizations. However, this set of opportunities comes with certain risks. 

There’s no denying that at the moment, the ecosystem is populated with business giants. For this platform to be accepted and adopted worldwide, it is essential that small businesses make transitions.

Let’s take a look at the previous patterns in the history of the adoption of new technologies. We can see how small businesses play a huge role in developing acceptance of the technology on the mass level. 

According to critical insights offered by Facebook’s Connect, 2021, there is no doubt that the era of the metaverse is forthcoming. However, the timeline required for the mass worldwide to widely adopt the metaverse technology is spread out at least over a decade. The policy leaders firmly believe that by 2040, the metaverse would have already emerged as a functional aspect of daily life for more than half a billion people across the globe. 

Even though it is not essential to have an immediate transition to pro-metaverse life, businesses are now considering the plausible scenarios with this tech in hand. If a firm strategically invests in the Metaverse ecosystem today, it would be able to build an improved experience for its customers in the future. 

How The Metaverse Is Reshaping Industries

With the advent and increasing adoption of this system by several players in the business field, the metaverse is on its way to reshaping the working and scope of several industries. Regarding adopting cutting-edge tech, the gaming industry has always been a pioneer. In the case of the Metaverse, the situation is no different. 

Several gamers are already convinced that the Metaverse can be the next frontier in the gaming world. According to developers, the gaming zone at present can often make the players feel. Even though the concept of multiplayer gaming solves the problem significantly, the inclusion of the meta world will take immersion and community to a whole new extent. The Metaverse project can create communities like Decentraland, Sandbox, Axie Infinity, etc., giving users social and monetary gains. 

Despite the immense potential, only the more prominent firms now dominate the Metaverse gaming space. Small businesses don’t have such a high budget for the research and development of a metaverse game.

Another sector that the metaverse can have a significant impact on is the fashion industry. Some major fashion brands have already started including metaverse-based fashion projects. They have already gotten on board with a successful Metaverse Fashion Week that included runway shows, after-parties, immersive experiences, shopping, panel talks, etc. 

Risks For Small Businesses

While the Metaverse brings immense opportunities and potential for growth and development to a whole new height, it is not free from risks and threats. Small businesses can be more exposed to the risks associated with this virtual ecosystem.

The metaverse ecosystem is yet in its initial stage and is taking shape. Thus, this universe’s uncertain and commencing stage could disrupt the roadmap of small industries, leading them astray. 

Jake Fraser is the head of business development at Mogul Productions. In an interview, he said:

“Technical expertise and knowing how to structure environments for users virtually is a fluid space and requires people to have their finger on the pulse to execute the best user experience. There also needs to be value for the user and something unique that they can’t get from your brand in another place. If there is no clear ‘hook,’ it can be difficult to drive adoption from businesses.”

Final Say

However, we can see that the relevant companies that ventured into this growing industry have gained a lot from the future’s perspective. This platform helps these industries to prepare for the future trend of virtual reality. To add to it, their present offerings also get an edge. If we look at the net outcome, the benefits of adopting the Metaverse have far more profits than the risks.

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Samvida is a versatile writer/editor passionate about reaching out to people of different precincts by using words as an effective means. She’s a law graduate residing in Bihar, India. She holds a curious persona, often delving into worlds of astrophysics, technology, crypto, law, and international relations.

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5 Times When Celebrity Crypto Endorsements Failed Terribly

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VOC, Voice of Crypto, crypto

Using celebrities and licensing their names for crypto marketing can be a waste of money for the brands and can also cause trouble. This process of brands licensing their names often creates problems for the brands themselves, and at times, even for the celebs. We cannot let go of the high possibility of these celebs unknowingly doing or saying something which might embarrass and hamper the entire branding program. 

For instance, when the price of BTC was about twice what it is today, Matt Damon’s started touting crypto investing. NFTs of Mike Tyson went down by more than 90 percent since he introduced his collection.  

Here’s a list of five big names that ended badly for the brands and their products:

Matt Damon (Actor)

VOC, Voice of Crypto, Crypto,

Matt Damon, the “Good Will Hunting” actor, is known for being the star of the “Fortune Favors the Brave” campaign carried out by Crypto.com – a cryptocurrency exchange platform. His campaign ad aired first on the 28th of October, 2021. Since the ad aired, Bitcoin’s price dropped by more than 60%, so he has been ridiculed and criticized for making promotions for risky investments. 

Tom Braddy (Football player)

VOC, Voice of Crypto, crypto

Tom Braddy, the seven-time Super Bowl-winning quarterback, took to the media to announce that he was allying with a crypto exchange in June 2021. He appeared in an ad asking, “I’m getting into crypto with FTX. You in?”. The fans who decided to invest in BTC when this ad debuted witnessed a plunge of 35% since then. 

Matt James (Bachelor Alum)

VOC, Voice of Crypto, Crypto

Matt James, known for starring in “Bachelor,” entered into a partnership with BlockFi, a crypto exchange company, on the 18th of May, 2021. However, the investors who invested since his ad aired have witnessed more downturns than ups. This is because of the 30% plummeting in price since the star’s tout. 

Mike Tyson ( Boxer)

VOC, Voice of Crypto, Crypto

Mike Tyson is known for creating his own non-fungible tokens collection in August 2021. Since the debut of these tokens to the most recent sales, the investors have witnessed a dip exceeding 95% in the price of these NFTs. 

Reese Witherspoon (Actress)

VOC, Voice of Crypto, Crypto

Reese Witherspoon, known for acting in the “Legally Blonde,” tweeted, “crypto is here to stay.” This incident took place in December 2021. Hello Sunshine, her media partner, entered into a partnership to promote and collaborate with the World of Women NFT collective. Since the announcement of the partnership, the average price of the World of Women NFTs has plunged more than 75%.

Even more astounding is that despite this horrendous track record, there is not even a slight decrease in such celebrity endorsements. To add to it, there has been this surprising, somewhat overturning of events, where those who purchased BTC after the recent touts from the soccer star Cristiano Ronaldo, and Khaby Lame, the Tiktok influencer, are ahead since they first entered. 

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Samvida is a versatile writer/editor passionate about reaching out to people of different precincts by using words as an effective means. She’s a law graduate residing in Bihar, India. She holds a curious persona, often delving into worlds of astrophysics, technology, crypto, law, and international relations.

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Top 3 Crypto Airdrops for August 2022

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VOC, Voice of Crypto, Crypto Airdrops

One of the best ways to earn free crypto is via an airdrop. Blockchain projects often distribute free tokens to active traders or in exchange for a little promotional activity on social media platforms. Almost every day, there are crypto airdrops, with some easier to obtain than others.

With this in mind, here’s the list of the top 5 crypto airdrops for August 2022. We also listed some other crypto airdrops and how to obtain them for free with little effort.

Viral Coin

Viral Coin, like many others, is a DAO (decentralized autonomous organization). Their native token, $VIRAL, is like most other utility tokens and is used to pay for services. However, the icing on the cake is that the viral Coin’s founding team has decided to give out a prize pool of 10,000 to 100 lucky winners.

WYND

 The WYND token is designed to be the governance token for the WYND DAO. The coordinating team at WYND has announced an airdrop, much unlike others. 

The WYND airdrop is designed to reward small to large-scale stakers of $JUNO, Osmosis, and Regen. Recipients of this airdrop are required to stake these tokens before the airdrop date. During the airdrop, an initial stake of 200 will be treated the same as a stake of 500.

65% of the initial supply of WYND tokens will go out to participants of the airdrop on August 31, and you can be one of them. All you have to do is to visit the airdrop page and connect your Keplr wallet.

Dexvers

Dexvers is a polygon-based exchange. They have announced an airdrop that will run until August 20, 2022. So far, making yourself eligible for the airdrop is relatively simple.

One thousand random lucky winners will get 100 DXVS each, and the top 5 most interactive members of their community members will get 200 DXVS each. Everyone is free to participate as often as they like but can only do so once per social media account.

While crypto airdrops can make you reasonable amounts of passive income, it is advisable to conduct proper research and to be very patient.

 

 

Jim Haastrup Author
Crypto Writer

Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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Top 5 Crypto Airdrops to Watch Out For in August 2022

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Top Crypto Airdrops to Watch out for in August 2022

Crypto airdrops are awesome! They are one of the best ways to make money and earn free crypto from the crypto market. They are also one of the biggest boosts any crypto portfolio can get. Here’s a list of the top 5 crypto airdrops to watch in August 2022.

Battle Infinity

Battle Infinity is arguably one of the biggest airdrops in mid-2022. The gaming platform plans to distribute $3000 in IBAT ( native token ) to 100 entrants, with $500 going to one lucky winner.

This airdrop is risk-free and requires no initial investment. It is more like a free crypto giveaway for IBAT holders, making it perfect for beginners and experienced entrants alike.  In addition, users can also participate in the token presale running until October 10th, 2022. 

Pulse Chain

The Pulsechain airdrop is one of the biggest airdrops of 2022. It is a blockchain-based cryptocurrency platform that was forked from Ethereum and offers cheaper, quicker, and more efficient transactions than Ethereum, its parent blockchain.

After the Ethereum fork occurs, all ETH, ERC20, and NFT balances on the Ethereum 1.0 network will be copied and moved to the Pulse chain mainnet.

This could be one of the biggest crypto airdrops of all time and is open to all prior holders of the many tokens or NFTs on the ERC20 network.

BAT (Basic Attention Token)

The Basic Attention system is built on top of the Ethereum network and runs Brave: One of the most popular web browsers. The Basic Attention system, as its name implies, simply measures how much time and attention its users spend on websites.

The Basic Attention System makes revenue mainly from adverts and promotions and distributes 70% of its income between holders of the BAT token. The platform also holds 25-40 BAT random giveaways, each currently worth about 50 cents.

DeFi Chain

DeFiChain is currently airdropping free DFI tokens to bitcoin holders. In 2020, DeFiChain held a similar airdrop. They distributed DFI tokens to all bitcoin holders at a rate of 500 DFI per bitcoin.

If you stake your DFI on the Cake platform, you are eligible to get 34.5% APY. Also, in an upcoming airdrop from august till the end of the year, DeFiChain and Cake are offering $30 worth of DFI to new holders and an 11% bonus on your first deposit. 

Tamadoge

It is easy to make the mistake of thinking Tamadoge is part of the doge ecosystem, created as a joke in the 2010s. Unlike Dogecoin, Tamadoge has various utilities and is deflationary. Tamadoge has an initial supply of 2 billion, and 5% of the total supply is regularly burned.

The good news is that Tamadoge is currently on presale. This means that if you are interested in getting in on the action, this is the best time.

While crypto airdrops can make you reasonable amounts of passive income, it is advisable to conduct proper research and to be very patient.

 

 

 

Jim Haastrup Author
Crypto Writer

Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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How To Find Market Tops And Bottoms With Onchain Indicators

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VOC, Voice of Crypto, Bitcoin, BTC
One way to understand onchain market movements is to have a subtle understanding of market tops and bottoms and the required indicators that show the required action. 
Bitcoin has been a very volatile asset since the year of its inception. This comes with its cyclical nature of boom and bust cycles. Therefore over the past couple of years, many analysts have developed and tested a multitude of onchain indicators that tell the market’s top and bottoms.
 
The core of such various indicators is being branched out through various complexities, from simple moving averages to momentum oscillators and on-chain signals.
 

Bitcoin Investor Tool

First is the investor tool that helps define cyclical tops and bottom for long periods. This tool uses two simple moving averages to calculate the over and undervaluation of markets. One is a two-year MA, and the other is the 5x multiple of a two-year MA.
 
When prices are trading below the (green) line, it usually has a history of the generation of outsized returns and marks bear cycle lows.
 
Conversely, a price above 2-year MA has signaled bull cycle tops, where investors generally de-risk.
 

Bitcoin Top Cap Model

Another on the list is the Bitcoin Top Cap model. It is a work of famous analyst Willy Woo and is used to identify market cycle tops. This one is calculated by multiplying the Average cap by a factor of 35. In contrast, the average cap is a cumulative sum of daily market cap values and dividing by the age of the market days.
 
Also, another top cap model considering a 15x multiplier is present to induce sensitivity and to gauge the effect of diminishing returns.
 
In other words, it is the average price of Bitcoin throughout its history.
 

The Onchain Pi-Cycle Top Model

The Pi Cycle Top, created by Philip Swift, works by contrasting the momentum of two moving averages. It is an estimation of conclusion between 111 SMA and 2*350 day SMA. When 350/111 = 3.153, it gives an approximation of the pi number.
 
When the 111 SMA crosses above the 2*350 SMA, the market gets overheated. On the contrary, it is cooling off from an overheated market.
 

The Onchain Mayer Multiple

Next up is Mayer Multiple is an oscillator. It is a calculation between the price and the 200-day moving average. The 200-day MA is a recognized indicator for establishing macro bull or bear bias. The Mayer Multiple is a deviation from this long-term average price as a tool to gauge overbought and oversold conditions.
 
When values are below 0.8 Mayer Multiple, it is a measurement that prices are trading 20% discount to the 200-day moving average.
 
While values above 2.4 Mayer Multiple reflect that prices have been running 240% of the 200-day moving average. This has happened for only 10% of Bitcoin’s trading history. 

Jatin Sewani Author
Crypto Writer

Jatin Sewani is crypto markets writer/reporter based in India. He is skilled in onchain as well as technical analysis. He’s currently pursuing actuarial science which lets him look at things from a risk-based perspective.

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