With this blog I am using to document my journey into wealth creation. From 0 to Millions .. So, I can come back and access where and how I did started from.
Cryptocurrency enthusiasts gather 'round! Today, we’re shining a spotlight on Blum Crypto Exchange, a platform that’s redefining the way we trade digital assets. Whether you’re a seasoned trader or a curious newcomer, Blum has something exciting in store for you.
Check out my video review on Blum DeFi Cryptocurrency exchange..
1. The Hybrid Model: Best of Both Worlds
Blum isn’t your run-of-the-mill exchange. It’s a hybrid platform that seamlessly integrates both centralized and decentralized trading features. Here’s what makes it stand out:
Off-Chain Order Book, On-Chain Settlements: Blum combines the efficiency of an off-chain order book with the security of on-chain settlements. Say goodbye to endless transaction confirmations!
MPC or Self-Custody: Choose your style. Blum supports Multi-Party Computation (MPC) wallets or lets you trade directly from popular wallets like Trust Wallet and MetaMask. Security? Check!
2. Localized P2P Trading: A Global Playground
Blum believes in global opportunities with a local touch. Here’s how:
Localized P2P Trading: Trade with local currencies. No more currency conversion headaches. Blum connects you to the world while keeping things familiar.
Trading via Telegram: Yes, you read that right! Blum offers a unique Telegram mini-app experience. Imagine trading crypto right in your favorite messaging app. Convenience level: 100!
3. Rewards, Engagement, and Fun
Blum isn’t just about profits; it’s about community, engagement, and fun. Here’s why you’ll love it:
Leaderboards: Compete, climb the ranks, and show off your trading prowess. Bragging rights included!
Social Interactions: Connect with fellow traders, share tips, and discuss the latest trends. Crypto is more fun when you’re not alone.
Rewarding Point System: Earn Blum Points by completing tasks, playing games, and inviting friends. These points unlock exciting perks. 🎁
Ordinals & NFTs: Trade your way to unique rewards and NFTs. Collectibles meet crypto—what’s not to love?
4. Made for Gen Z and Millennials
Blum knows its audience. If you’re a Gen Z or Millennial investor, this platform is tailor-made for you. It’s intuitive, engaging, and designed to fit your digital lifestyle.
Conclusion: Join the Blum Community!
Ready to explore Blum? Start your crypto journey today. And hey, don’t forget to check out our YouTube video on Blum Crypto Exchange for an in-depth look. Hit that subscribe button, and let’s dive into the future of crypto together!
In this article, I will show you how to research layer 1 smart contract platforms. What is the point of examining Ethereum, Binance Smart Chain, Avalanche, and other base networks?
In short: It’s not just about determining the investment potential of an L1 blockchain itself.It also analyses the basic potential for layer 2 solutions in the given network.
Let me explain why.
A good layer 1 network is the basis for successful layer 2 solutions
We can view layer 1 blockchains as different nations. They are independent of each other, each of them has its own data, network, consensus mechanism, ecosystem, etc. They can validate and finalize transactions without other networks.The stronger a ‘nation’ is, the better the conditions for all projects developed as layer 2 protocols.
The law of multiplying by zero comes to mind: In some cases, a single critical mistake or deficiency can cause the whole system to collapse. Meaning that the most promising layer 2 crypto project will fail if the underlying L1 blockchain is a piece of junk.
OK.
With the basic understanding in place, let’s get to the meat of this guide and go through the individual steps of researching L1 blockchains.
How-to Research L1 Blockchains step-by-step
To determine the quality of a layer 1 network, you need to assess a couple of key aspects. Let’s look at them one by one.
1. Developer friendliness
This refers to how easy or difficult it is for others to build solutions on top of a given layer 1 network. The following points are of relevance here:
What is the chain’s programming language?An easy-to-learn programming language (or a blockchain that supports multiple languages) is more likely to attract developers.
How good is the online documentation and are there a lot of (up-to-date) tutorials available?This makes it easier for developers to learn to build on the chain.
What tools does the blockchain provide for developers of layer 2 applications?Think of software development kits (SDK), sandboxes, benchmarking tools, block explorers, smart contract compilers, debugging tools, etc.
To figure these things out, go to the L1 network’s website, and read their whitepaper and documentation.
2. Decentralization
Decentralisation is essential for blockchain security and its trustworthiness. What does decentralisation in this context mean?
Ethereum founder Vitalik Buterin differentiates between 3 kinds:
There is no single point of failure(architectural decentralisation).
no individual or single organisation controls the whole system(political decentralisation).
The network can be cut into half and each half functions like an independent unit(logistical decentralisation).
To summarise, you’d want to see a high degree of decentralisation. However, keep in mind, that there is no project that is 100% decentralised.
Moving on.
These are the things you should research to assess how decentralized a layer 1 blockchain is:
How many nodes are there?The more the better.
Where are they located?The further they are geographically distributed, the better.
What’s the share of the hash rate that individual mining pools hold in proof-of-work (PoW) networks?
How big is the share of coins held by the top wallets in a proof-of-stake (PoS) network?
If you want to understand this topic better, here is an in-depth article I wrote about the decentralization of some of the biggest blockchains such as Bitcoin and Ethereum.
3. Security
Another very important aspect is how immutable a blockchain is. Most of us are not IT security specialists. That’s why we have to rely on developers, contributors, white-hat hackers, and others to make sure the blockchain’s code is free from bugs and risks. However, there are several questions we can try to answer:
Can the blockchain withstand various attackssuch as a 51% attack, Sybil attack, distributed denial of service attack (DDoS), etc.?
It is also important for us tounderstand how different consensus algorithms worktheoretically and what their advantages and disadvantages are. This in turn can help us to understand what kind of threats or attacks the blockchain could be facing.
By the way, have you already checked out my article about how to research cryptocurrencies? It’s the most extensive guide for free on the net!
4. Active users and daily transactions
You can build the best software ever. But if nobody uses it then it is nothing. That is why it’s important to get an understanding of user activity. These are the stats you should focus on:
What’s the long-term trend of user numbers?A steady increase in active users is a good sign.
What can you learn from the number of daily transactions?Again, what you’d want to see here is an increase in daily transactions.
How many hodlers are there?This plays into the former two stats. While a certain percentage of people just holding the blockchain’s native currency is a good thing you don’t want too many people just hoarding coins without ever using them.
The get this information check out the list of resources I am sharing at the bottom of this article.
5.Transaction fees
Ideally, transaction fees should be affordable for users.Too expensive fees could have a negative impact on the chain’s development.However, it could also reflect how much users are willing to pay for the block space. Premium = more security.
6. DApps and ecosystem
This is a great indicator, because if we view each L1 blockchain as a nation, then the DApps built on them are like the economic sectors in the nation.For a nation to thrive, diversified industries and economic activities are essential.Also, a big and diverse ecosystem attracts investments and new solutions.
Go todappradarto see the popular DApps for every L1 blockchain. This website also lists the number of users of each DApp.
But DApps are just part of the whole ecosystem. Other aspects include exchanges (centralized and decentralized), and infrastructure such as bridges, oracles, APIs, etc.
7. Developer activity
This information can be found from the project’s Github page. It’s a great source for insights, even if you have zero knowledge about programming. Here you can learn about the following things:
How many active developers are contributing to the chain?
On the ‘Contributors’ page, you can see the contribution activity over time as well as who are the main contributors and during which time frame they are active.
In the ‘Commits’ and ‘Code frequency’ sections, you can check more details about the number of commits, additions, and deletions every week.
PS: the websiteCryptomiso.comalso summarizes Github commits information of 300 popular crypto projects.
8. Is the L1 network backed by VCs?
Institutional money is one of the easy to verify key indicators that tell you if a project is good or not. That’s because normally,VCs do their own in-depth research before they invest. However, being backed by a VC does not guarantee a project will be successful. The recent Terra debacle is a reminder of this.
9. Social media activity
To wrap things up, always take some time to check out a network’s social media accounts. Here’s what you can learn from taking a look at their Twitter, Telegram, Discord, etc.
What are they talking about?Just shilling the project or discussing problems and improvements?
Do they offer insights into road maps, development progress, etc.?
It isnot a good sign if the official social media accounts have not been updatedfor some weeks. It could be a sign that the team is running into problems or has abandoned the project.
Summary + Useful links of major L1 blockchains:
It is challenging to find all the information I have listed in this guide. For example, there is no website listing the active addresses of certain projects. Don’t worry too much if some information is too hard to dig up. Just try to gather as much data as possible in order to make a well-founded statement about the status of a project.
Here are some great resources you can use when researching some of the top layer 1 blockchains:
Hello everyone and welcome to my Blog - Tchize Matias the blog author.
Today I will talk about 10 reasons
why you should learn about cryptocurrencies. Cryptocurrencies are digital or virtual
currencies that use cryptography to secure their transactions and prevent
counterfeiting.
They operate on decentralised networks that are not controlled by any central authority,
such as a government or a bank.
Cryptocurrencies have become very popular in recent years, and there are many benefits
to learning more about them. Here are 10 reasons why you should learn about
cryptocurrencies:
It creates career opportunities. Cryptocurrencies are not only a form of money,
but also a technology that can be applied to various fields and industries. By
learning about cryptocurrencies, you can gain valuable skills and knowledge that
can help you find jobs or start your own business in the crypto space. Many roles and positions require crypto expertise, such as developers,
analysts, traders, marketers, educators, and more.
It is are silent technology. Cryptocurrencies are based on blockchain technology, a distributed ledger system that records and verifies transactions
without the need for intermediaries. Blockchain technology is very secure,
transparent, and efficient and can withstand attacks, censorship, and
corruption. By learning about cryptocurrencies, you can understand how
blockchain technology works and how it can be used to solve real-world
problems.
It is an investment opportunity. Cryptocurrencies are not only a medium of
exchange, but also a store of value and an asset class. By learning about
cryptocurrencies, you can discover the potential and risks of investing in them.
You can also learn how to diversify your portfolio, analyze market trends, and
make informed decisions based on your own research and judgment.
It enables instant settlement. Cryptocurrencies allow you to send and receive
money across the world in a matter of minutes or seconds, without the need for
intermediaries or fees. This makes them faster, cheaper, and more convenient
than traditional payment methods. By learning about cryptocurrencies, you can
benefit from their speed and low cost and also learn how to protect your privacy
and security online
It enhances online security. Cryptocurrencies use cryptography to encrypt and authenticate their transactions and data. This makes them very difficult to hack
or tamper with, unlike conventional systems that rely on passwords or personal
information. By learning about cryptocurrencies, you can learn how to use
cryptography to safeguard your online activities and data.
It is an alternative to corporations. Cryptocurrencies are not issued or controlled
by any central authority, such as a government or a corporation. They are created
and governed by the people who use them, through a process of consensus and
democracy. By learning about cryptocurrencies, you can participate in their
creation and governance, and also support their social and environmental
causes.
It is a global phenomenon. Cryptocurrencies are used by millions of people
around the world, from different countries, cultures, and backgrounds. They
transcend borders, languages, and barriers, and create a global community of
users and enthusiasts. By learning about cryptocurrencies, you can join this
community and connect with people who share your interests and values.
It is a source of innovation. Cryptocurrencies are constantly evolving and
improving, thanks to the creativity and ingenuity of their developers and users.
They introduce new features, functions, and applications that challenge the
status quo and offer new possibilities for the future. By learning about
cryptocurrencies, you can witness and contribute to their innovation and
progress.
It is a form of education. Cryptocurrencies are not only a technology, but also a
discipline that encompasses various fields of study, such as mathematics,
computer science, economics, finance, law, sociology, psychology, and more. By
learning about cryptocurrencies, you can enrich your knowledge and broaden
your perspective on these subjects.
It is fun and exciting. Cryptocurrencies are not only useful and practical, but also
fun and exciting to learn about. They offer a lot of entertainment value through
their games, memes, art, culture, humour, and more. By learning about
cryptocurrencies, you can enjoy their fun side and have a good time.
These are 10 reasons why you should learn about cryptocurrencies. I hope you found
this blog article helpful and informative. If you did, please like, share, subscribe, and comment
below on what you think about cryptocurrencies or what topics you want me to cover next
time.
Thank you for reading my blog post, I truly hope this content is useful for you.
🌐Today seems to be the time to decide about the Ethereum ETF. (⚠️The cryptocurrency market may get excited when the result is announced, so be careful with your positions⚠️).
🔔Let's take a look at what happened to Bitcoin when the Bitcoin ETF was adopted.
When the Bitcoin ETF was approved, Bitcoin corrected about ➖20% and this correction lasted about 12 days. This happened seemed to express the proverb, "Buy the Rumor, Sell the News".👇
💡So there is a possibility that if Ethereum ETF is approved, Ethereum will be corrected for a while like Bitcoin.
📊Now let's check the Ethereum chart.
🏃♂️Ethereum has managed to break the 🔴Heavy Resistance zone🔴 (now the 🟢Heavy Support zone($3,580-$2,930)🟢) of Ethereum with the help of the Classic Falling Wedge Pattern. It is currently moving near the 🔴Resistance zone($4,380-$3,950)🔴.
🌊According to the Elliott wave theory, Ethereum seems completed the microwave 3 of main wave 3. Ethereum seems to be completing microwave 4 of the main wave 3 right now.
📈Let's look at the ETHBTC chart and see how much Ethereum will be affected by the growth or decline of the cryptocurrency market.
📈ETHBTC seems to be trying to break the important Resistance line and Resistance zone, and this is a good sign for Ethereum and most altcoins. If the cryptocurrency market starts to increase, it seems that Ethereum will get a larger share of this increase. It could be a sign for Altseason.
📈But right now it seems that ETHBTC should have a correction to the Support zone or Fibonacci lines.👇
🔔According to the above explanations, it seems that if you want to add Ethereum and other Altcoins that are on the Ethereum network to your portfolio, it is better to wait for Ethereum to reach the 🟢Heavy Support zone($3,580-$2,930)🟢, if ETHBTC also corrects at the same time, it will be a more suitable situation.
🔔If you want to open a position on Ethereum, it is better to have a short position, because if Ethereum ETF is approved, the same scenario as Bitcoin may happen to it, and if it is not approved, the possibility of a fall is very very high, so the risk of a short position may be less now. What is your idea❗️❓
❗️⚠️Note⚠️❗️: If the Ethereum ETF is not approved, you better wait because Ethereum is likely to lose the 🟢Heavy Support zone($3,580-$2,930)🟢, and this shock will also affect Bitcoin and other Tokens.
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Ethereum Analyze ( ETHUSDT ), 4-hour time frame ⏰.
- Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Ethereum is likely to touch the Heavy Support zone($3,580-$2,930) once again.
Follow this ascending channel in a one-hour time frame.
Fibonacci lines work well. May 27 Comment:
In my opinion, Ethereum will go down to at least $3869 and touch the Uptrend line again. 13 hours ago Trade closed: target reached:
Ethereum was able to touch $3869, as I expected, and break the Uptrend line; the next target could be $3750.
Welcome to the enigmatic world of cryptocurrency investment, where the promise of substantial returns is matched only by the complexity of the strategies employed to achieve them. While the internet is awash with generic advice and the same recycled tips, this post aims to unveil the guarded secrets and nuanced tactics that seasoned investors use but seldom share. From timing the market to leveraging cutting-edge technology, we’ll explore the sophisticated strategies that could give you an edge in the digital currency arena.
Understanding the Market
The first step to successful cryptocurrency investment is a thorough understanding of the market. This volatile landscape requires investors to be well-versed in reading charts, understanding trends, and recognizing patterns. Utilize tools like CoinMarketCap and CryptoCompare for real-time data analysis, and don’t shy away from deeper analytics platforms that offer insights into transaction volumes and wallet activities. Knowledge is power, and in the crypto market, it’s the foundation of every smart investment decision.
Risk Management
Cryptocurrency’s volatility is both its allure and its peril. Effective risk management is crucial. Diversify your portfolio across different digital currencies and blockchain projects to mitigate risk. Implement stop-loss orders to protect against significant losses, and consider using dollar-cost averaging to smooth out the price volatility over time. Remember, never invest more than you can afford to lose – the golden rule of any investment, but especially pertinent in the crypto world.
Investment Timing
Timing is everything. While ‘buy low, sell high’ might sound simple, executing it is anything but. Develop an understanding of market cycles and sentiment analysis to identify the best times to enter and exit positions. Look for signs of market exhaustion for selling opportunities and accumulation patterns for buying. Be wary of FOMO (fear of missing out) driving your decisions; disciplined timing based on research is key.
The Role of Technology
Technology is the linchpin of cryptocurrency investment. Automated trading bots can execute trades faster than any human, capitalising on market movements 24/7. Blockchain analytics can provide a deeper understanding of the flow of digital assets, potentially signalling market movements. Embrace these technologies, but with a critical eye, ensuring they align with your overall investment strategy.
Psychological Factors
Investor psychology can often be the downfall of otherwise sound strategies. The volatile nature of cryptocurrencies can lead to emotional decision-making. Develop a mindset that remains unswayed by the market’s highs and lows. Stick to your investment plan, and don’t let greed or fear dictate your actions. A clear head will prevail in the tumultuous crypto market.
Conclusion
Cryptocurrency investment is not for the faint-hearted, but with the right strategies, it can be incredibly rewarding. By understanding the market, managing risks, timing your investments wisely, leveraging technology, and maintaining a disciplined psychological approach, you can navigate the complexities of cryptocurrency investment. Remember, the most successful investors are those who learn continuously, adapt swiftly, and invest judiciously.
