Category Archives: Cryptocurrency

Which cryptocurrency doEthereum ( ETH -1.78% ) whales (individuals with a lot of money invested) like the most? The answer, of course, is Ethereum itself. However, Ethereum whales also are betting on other cryptocurrencies.

Shiba Inu ( SHIB -1.19% ) ranks high on the list. In late February, Ethereum whales owned more than $1.3 billion of the digital token, according to whale-tracking website WhaleStats. Today, the figure tops $1.5 billion.

But Shiba Inu isn't at the top of the non-Ethereum list for these whales. Here's the cryptocurrency Ethereum whales are buying even more of.

Image source: Getty Images.

As of March 4, Ethereum whales owned more than $1.6 billion of FTX Token ( FTT 1.70% ). The digital token makes up nearly 18% of the whales' non-Ethereum holdings.

In one sense, it might be surprising that FTX Token (FTT) is Ethereum whales' No. 2 favorite token after Ether. FTT ranks only 26th among cryptocurrencies based on market cap. Shiba Inu comes in much higher at No. 14.

There are plenty of well-known and widely adopted cryptocurrencies with greater market caps than FTT. So why aren't Ethereum whales scooping them up instead? There's a simple explanation.

FTT is the native token of the FTX crypto-trading exchange. This exchange has become very popular with futures traders.

CoinRanking.com lists FTX as fourth among crypto exchanges based on trading volume. FTX also comes in at No. 4 on CoinGecko's ranking of crypto exchanges based on its proprietary trust score. This score includes web traffic, liquidity, trading activity, a cybersecurity evaluation, and more.

Any Ethereum whales who use the FTX exchange have incentives to build up their positions in FTT. The digital token can be used as collateral for positions in futures. The FTX exchange reduces futures fees for traders who hold a specified amount of FTT for a specified time. And those who hold enough FTT can get rebates on all of their over-the-counter trading on the FTX exchange.

But FTT isn't completely joined at the hip with FTX. Ethereum whales could buy the digital token on other exchanges as well. For example, Binance (the top-ranked crypto exchange based on trading volume) supports buying FTT with several other digital tokens, including its own native Binance Coin.

Ethereum whales don't like just Ether, FTX Token, and Shiba Inu. They own more than $826 million worth of USD Coin ( USDC -0.03% ), one of the top stablecoins on the market. Another stablecoin, Tether ( USDT -0.01% ), also ranks high on the list. Ethereum whales hold more than $434 million of Tether.

Some of the Ethereum whales appear to be fans of Polygon ( MATIC -1.01% ) as well, owning nearly $380 million of the cryptocurrency. Polygon is built on the Ethereum blockchain and extends the blockchain into a multichain network.

If you're wondering if Ethereum whales are into gaming coins at all, the answer is yes. They currently own nearly $330 million of Decentraland ( MANA -1.48% ) tokens. Decentraland has emerged as one of the leading metaverse cryptocurrencies.

This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis even one of our own helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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Here's the Cryptocurrency That Ethereum Whales Are Buying More of Than Shiba Inu - The Motley Fool

FBI Director Christopher Wray said Thursday that the Russians "highly overestimated" their ability to circumvent international sanctions through the use of cryptocurrency.

Wray added that there have been some "very significant seizures" of Russian-owned cryptocurrency since Russian President Vladimir Putin launched his invasion of Ukraine in late February.

"The Russians' ability to circumvent the sanctions with cryptocurrency is probably highly overestimated on the part of maybe them and others," Wray said Thursday during a hearing before the Senate Intelligence Committee. "We are, as a community and with our partners overseas, far more effective on that than I think sometimes they appreciate."

BIDEN TO ISSUE CRYPTO EXECUTIVE ORDER AMID FEARS OF RUSSIA EVADING SANCTIONS

"We have built up significant expertise both at the FBI and with some of our partners, and there have been some very significant seizures and other efforts that I think have exposed the vulnerability of cryptocurrency as a way to get around sanctions," Wray added.

Wray's comments were an apparent dig at cryptocurrency critics such as Sen. Elizabeth Warren, a Massachusetts Democrat, who has labeled digital decentralized currencies a threat to national security and has suggested Russian oligarchs are actively bypassing economic sanctions through their use.

"We're going after two things: trying to squeeze the Russian economy and also trying to squeeze those oligarchs, right? The problem is, we're doing that only through the formal banking system," Warren said Tuesday. "Those oligarchs can move a lot of money or store a lot of money or hide a lot of money through crypto."

Warren warned Treasury Secretary Janet Yellen in a letter last Wednesday that Russian actors may use cryptocurrency as a tool for sanctions evasion.

"Strong enforcement of sanctions compliance in the cryptocurrency industry is critical given that digital assets, which allow entities to bypass the traditional financial system, may increasingly be used as a tool for sanctions evasion," Warren said in the letter, which was also signed by Senate Intelligence Committee Chairman Mark Warner, Banking Committee Chairman Sherrod Brown, and Armed Services Committee Chairman Jack Reed.

Republican lawmakers have also expressed concern that Russians may leverage cryptocurrencies to evade sanctions.

"Cryptocurrency is rearing its ugly head here," Sen. Lindsey Graham said last week. "As you sanction the [Russian] central bank, which is a good thing, I worry about how the cryptocurrency could be used by the Russians to stay afloat."

But a Treasury Department official told NBC News on Tuesday that Russians won't find cryptocurrency an effective tool to evade sanctions.

"It will be extremely challenging to evade our sanctions without detection," the unnamed official told NBC News. "Treasury has been significantly increasing its ability to track virtual currency transactions via partnerships across the [federal government] and with the private sector."

Coinbase, the largest cryptocurrency exchange in the United States, announced Monday it blocked 25,000 accounts linked to Russian people and entities that the company believed to be "engaging in illicit activity."

Coinbase Chief Legal Officer Paul Grewal explained that cryptocurrency transactions are "traceable, permanent, and public" and that digital assets "have properties that naturally deter common approaches to sanctions evasion."

President Joe Biden signed an executive order Wednesday ordering the federal government to create assessments and action plans to mitigate the risks that illicit use of digital currencies pose to the financial and national security sectors.

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Biden's order also accelerates the research and development of an official U.S. Central Bank Digital Currency "should issuance be deemed in the national interest."

Original Location: Putin overestimated ability to bypass sanctions with cryptocurrency, FBI boss says

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Putin overestimated ability to bypass sanctions with cryptocurrency, FBI boss says - The Denver Gazette

Ethereum Classics (CRYPTO: ETC) price has decreased 5.09% over the past 24 hours to $26.46, continuing its downward trend over the past week of -10.0%, moving from $29.52 to its current price.

The chart below compares the price movement and volatility for Ethereum Classic over the past 24 hours (left) to its price movement over the past week (right). The gray bands are bollinger bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has fallen 18.0% over the past week which is opposite, directionally, with the overall circulating supply of the coin, which has increased 0.13%. This brings the circulating supply to 133.46 million, which makes up an estimated 63.34% of its max supply of 210.70 million. According to our data, the current market cap ranking for ETC is #35 at $3.53 billion.

If you are interested in purchasing Ethereum Classic and want to know the best cryptocurrency exchanges, follow this link to Benzinga Money.

Do you want to learn more about trading and be able to analyze your own portfolio of stocks or cryptocurrencies? Consider signing up for Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy. You can follow the link here to visit.

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Digital bitcoin abstract background

JP Richardson, the CEO and founder of Exodus, a crypto wallet platform, believes that Bitcoin will revolutionize the world of money and the way that people conduct commerce. Hes purpose driven and builds software utilizing Bitcoin and other crypto currencies to bring liquidity and speculation to alternative markets.

When Richardson started the company in 2015 he said he had to painfully download a wallet for each asset. Now hes making holding a portfolio of crypto assets beautiful and easy. The "wallet" is essentially a piece of software that allows users to store digital currencies. The founder points out their platform is unique in that users have full control over the private key needed to access their currency, which makes it harder for hackers to steal their digital assets.

Exodus is on a mission to empower half the world to exit the traditional finance system by 2030 by making a multi-asset software wallet that removes the geek requirement and keeps design a priority to make cryptocurrency and digital assets easy for everyone.

It's available for desktop and mobile. Exodus allows users to secure, manage and exchange cryptocurrencies like Bitcoin, Ethereum, from an eye-catching, easy-to-use wallet. The non-custodial functionality is encrypted locally on users' own devices, ensuring privacy, security and complete control over their wealth.

Employees Are Paid In Bitcoin

Richardson has a unique and progesive way of running his company. To update an old adage, Richardson is putting his Bitcoin where his mouth is. His platform pays their 250 plus employees in Bitcoin. He takes his pay this way too. The company opted for the Bitcoin standard to both show commitment to the cause, and streamline payroll for its global workforce.

While it's required to get paid in Bitcoin, employees are free to sell all or part of the digital asset if theyd like. He gets that everyone has their own financial situation. Some people may hold onto the Bitcoin payment forever hoping that the value will continue to grow. Others may have obligations such as mortgages, college tuition payments and other expenses that need to be funded and selling off some of the cryptocurrency is necessary. The company offers tax advice to help workers with their transitions in Bitcoin.

The Growing Get Paid In Crypto Movement

Inflation is out of control, there is a Great Resignation trend with millions of people quitting their jobs, and businesses waging a war-for-talent to find, attract, recruit and retain workers. The value of the dollar has degraded as inflation skyrocketed 7%. Bitcoin and other cryptocurrencies have become an attractive alternative for people to improve their financial situation.

Sports stars, politicians and other high-profile people have been requesting to take their compensation in digital assets. They point out that if you get paid in U.S. dollars, as inflation increases, the value of your paycheck decreases.

It's possible to convert your salary into cryptocurrencies. It only takes a few steps. First find out through the human resource department if their payroll system offers a cryptocurrency payment option. Then decide the amount of money youd like to be changed into digital assets. You may want to conduct due diligence into the various tokens before you select one. Setup an account with a digital wallet at a crypto exchange for your employer to send the funds to the platform. There may be fees and costs involved, so check into that as well.

Quarterback Aaron Rodgers previously announced that he wanted to receive his compensation in Bitcoin, back in early November. At the time, the coin was more than $60,000,it's now trading under that amount hovering under $40,000.

NFL star Odell Beckham Jr. signed a one-year deal with a base salary of $750,000 and bonuses that could bump it up to $4.25 million. The NFL wide receiver said he was taking his entire salary in Bitcoin. He reportedly converted a $750,000 paycheck into bitcoin, and may have lost the equivalent of almost $350,000, according to an analysis from MarketWatch. While the price of bitcoin has since somewhat rebounded, it hasn't fully recovered and remains extremely unpredictable. If the price doesnt recover he would still have to pay taxes on his income at the value of $750,000.

This is something you need to keep in mind. If you are paid $100 and it drops to $50, the IRS doesnt care about the loss and youre taxed on the amount you were paid. Your accountant can help offer her guidance and advice on how to handle and report these wide fluctuations in value.

Saquon Barkley, an NFL running back, announced in July 2021 that he would place all of his endorsement earningstotaling around $10 million in Bitcoin. The Washington Examiner reported that Barkley explained his goal is to attain wealth akin to Kevin Durant, Lebron James, and Tom Brady but said it's not attainable through just saving because of inflation. He added, You see inflation, you see how high it is right now, and you learn that you cant save yourself to wealth, and Thats why Im going to be taking my marketing money in Bitcoin.

Trevor Lawrence, the number one draft pick in 2021, and now the quarterback for the Jacksonville Jaguars, partnered with cryptocurrency app Blockfolio to announce that hed and place his approximate $24 million signing with the company. Hell convert the cash into Bitcoin, Ethereum, Solana, and other digital assets, according to USA Today.

Francis Suarez, the tech-savvy mayor of Miami, said in November that he would accept his $97,000 all in bitcoin. Suarez foresees the possibility of building a tech hub in Miami. Leading by example, Suarez seeks to expand cryptocurrency use and acceptance in his city and entice tech talent and companies to South Florida. For any city to survive and thrive, we need a knowledge-based economy, he told Bloomberg.

Suarez added, "When governments are spending that kind of money that they are, when you have inflation at the point that it is, when you have rampant overspending in government and deficit spending, all of that pushes in favor of an increase in the price of Bitcoin," and "So I feel very comfortable getting my entire salary in bitcoin."

Eric Adams, the newly installed mayor of New York City, announced that he would take his first three paychecks in cryptocurrency. He converted his first biweekly paycheck into both bitcoin and ethereum. When asked on CNBC about losing money on the decision, he said, "the purpose of the Bitcoin is to send a message that NYC is open to technology

Remote First

In another interesting move, the remote-first company recruits talent from around the world. More than half of the employees work outside the United States. Richardson understands that there is great talent everywhere. This may be due, in part, to his starting a company in his home state of Nebraska. It's far from Silicon Valley and Wall Street, and empathizes with people knowing how they can miss out on great opportunities due to where they live. The international remote hiring policy levels the playing field. .

Salary Transparency

Everyones salary is fully disclosed. The amount of Bitcoin on the companys books is open for people to see as well. The public nature of Bitcoin means Exodus salaries are transparent to other employees. This serves as an incentive. People can proactively ask for a raise, or what needs to be done to increase their compensation.

Exodus seeks to attract those who are dedicated to the DeFi movement. In a tight job market, especially for tech talent, getting paid in Bitcoin, having salary transparency, recruiting anyone from anywhere sets the company apart.

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Cryptocurrency Platform Pays It's Global Remote Workers Only In Bitcoin, And Makes Their Salaries Transparent For Everyone To See - Forbes

Lugano, a city in Switzerland, is adopting cryptocurrency as a means for payment of taxes

Lugano, a city in Switzerland, is adopting cryptocurrency as a means for payment of taxes, goods, and services, as part of a new collaboration with the provider of the Tether (USDT) stablecoin. Citizens in the Italian-speaking province will be able to pay for public service fees and taxes with Bitcoin, according to city director Pietro Poretti, who co-announced the news alongside Mayor Michele Foletti and CTO of Tether Paolo Ardoino in a live-streamed event a few days ago. Over 200 merchants have already partnered with the city to promote bitcoin and Lightning payments.

Ardoino even tweeted about the same a few days ago. He shared a 15-second video that outlined all the things that you can pay for within few months in the city.

Residents of Lugano will be able to transact, invest, and pay taxes using Bitcoin, USDT Tether, and LVGA token after these three cryptocurrencies were approved as de facto legal tender in the city.

Watch the video here:

Because it is tied to the US Dollar, the USDT Tether is a stablecoin, which means its value remains relatively stable in comparison to other cryptocurrencies. The LVGA token, which was created by the city itself, is the country's third cryptocurrency that has been recognised as de facto legal tender.

The collaboration between Lugano and Tether has been termed Lugano's Plan B'. It intends to develop Lugano into a hub for blockchain adoption in Europe.

El Salvador has already recognised Bitcoin the world's largest and oldest cryptocurrency as legal tender. El Salvador's move in September 2021, when the country became the first to recognise a cryptocurrency as de-facto money, may have accelerated Lugano's decision. Lugano's new rule is very similar to El Salvador's. Lugano wants its businesses to be able to utilise cryptos for routine transactions without difficulty. In El Salvador, however, only Bitcoin is accepted as legal tender.

Over 500 students studying cryptocurrency and Decentralized Finance (DeFi) may also get scholarships from Lugano.

Lugano will also host the Bitcoin World Forum conference in October this year.

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Colorado will soon become the first state in the country to accept cryptocurrency for tax payments and may expand crypto to other state businesses like drivers license and hunting license fees too.

Gov. Jared Polis (D) signed the Digital Token Act, which will allow Colorado residents to pay their taxes with cryptocurrency by this summer. In a recent interview with CNBC, Polis explained that the states expenses are all in dollars, so payments made with crypto would be converted back to dollars by an intermediary.

We are getting a payment provider to accept crypto equivalent and deposit the dollars into the states treasury for that amount. It is kind of like credit card payments, with the bonus that there are no returned payments, said Polis in a tweet.

Crypto is expected to be expanded in use in Colorados government, with Polis saying driver's licenses, hunting licenses and other fees will also accept crypto as payment.

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The National Conference of State Legislatures (NCSL) describes cryptocurrency as a digital or virtual currency that is not issued or backed by the U.S. government or any other government or central bank. That means crypto isnt subject to things like transaction fees or geography and can be completely anonymous.

Polis has been a big proponent of crypto, telling Wired last monthcrypto can be more convenient for people to use and sets a symbolic message that it is in fact a validated form of payment in the state like credit cards.

Under Polis administration, Colorado established its first chief blockchain architect, Thaddeus Batt, as part of the states Blockchain Council. His role includes expanding blockchain technology within Colorado government agencies, including policy and regulatory clarity, banking services and support, taxation of digital assets and more.

Colorado isnt the only state integrating crypto into state business. TheNCSL says 33 states and Puerto Rico had pending legislation in 2021 and 17 states enacted legislation or adopted resolutions related to crypto.

New York City Mayor Eric Adams (D) recently announced he was converting his first paycheck into Bitcoin and Ethereum via Coinbase, the countrys largest cryptocurrency exchange. Filings from the U.S. Patent and Trademark Office also indicated that national retail giant Walmart may also be planning to create its own cryptocurrency and collection of nonfungible tokens, known as NFTs.

The use of crypto prompted the FBI to form a new team that is dedicated to the matter, appointing prosecutor Eun Young Choi, as the agencys first director of the National Cryptocurrency Enforcement Team (NCET).

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Ethereum is a digital platform run on blockchain technology, commonly known for its intelligent functionality and its cryptocurrency (Ether).

Ethereum transactions don't require central authority governance. It works with a global system of computers to compile and verify every transaction happening at the platform's blockchain.

Mining is using the computing power of dedicated hardware to solve complex puzzles. It allows the network to function. and simultaneously protects it from hacking and other malicious attacks.

Miners receive a transaction fee in exchange for their services. It is a predetermined amount of ether for every validation of a block.

According to Carter Kilmann, a financial copywriter, an editor of Business Insider, these are several approaches to Ethereum mining.

Pool mining: The most straightforward way to mine ether. It's the best option for people who don't have much hardware.

Pool mining allows miners to combine their collective computing power to solve Ethereum blocks in less time.

The rewards are split between the group based on power contribution, which is measured by hash power.

Solo mining: A complex process that requires considerable harsh power.

Beyond equipment cost, which could be thousands if not tens of thousands of dollars, you should also evaluate factors like ventilation, noise, electricity costs, and physical space.

Solo mining is generally only recommended for professional miners who are willing to make a significant capital investment.

Cloud mining: It is the easiest mining approach. You pay another miner an upfront fee to mine coins for you.

Nevertheless, there are risks involving cloud mining such as scams and fraud.

Crypto wallets store your coins similar to a bank account guards your money.

Hardware wallets: Physical devices (USB looking) that store your crypto accounts' private keys offline.

Software wallets: Digital programs that house your crypto requiring an internet connection to access.

You will need:

-A computer or dedicated mining rig with one or more graphics processing units (GPUs)

-An Ethereum mining operating system

-GPU drivers, which enable communication between your graphics card and operating system

-A wallet, which can be a physical device or digital program, to store your rewards

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Ethereum: How to mine this cryptocurrency and how long it takes? - Marca English

Cryptocurrencies were one of the hottest trends in 2021 as they made their way into individual investors' portfolios. A study published by the University of Chicago in July 2021 reported that 13% of Americans surveyed traded cryptocurrency during the 12 months prior, and while that is less than the 24% of Americans who traded stocks over the same period, it still shows that crypto is being adopted by more than a small niche group of investors.

However, deciding which cryptocurrency to invest in can be extremely difficult, and exchange-traded funds (ETFs) that track cryptocurrencies can sometimes charge egregiously high fees. For example, the Bitwise 10 Crypto Index Fund (OTC: BITW) charges a 2.5% expense ratio -- meaning it takes $25 for every $1,000 invested each year. This is much higher than traditional stock market ETFs like the Vanguard Total Stock Market ETF (NYSEMKT: VTI), which has an expense ratio of just 0.03%.

If you want to avoid these high fees, but aren't ready to invest directly into cryptocurrency, Coinbase Global ( COIN -6.90% ) might be a better alternative to dip your toes in the water. The company is the leading crypto trading platform for individual investors and traders, along with institutional investors. On top of that, the company's revenue is well diversified, making it a smart way to invest in this fast-growing industry. With its major growth and impressive profitability, Coinbase might be the perfect crypto play for you.

Image source: Getty Images.

There are plenty of competing platforms, but Coinbase is the primary platform that serves day traders, long-term investors, and even institutional investors. In 2021, the company had 11.4 million monthly transacting users (MTUs), and a total user count of 89 million. Importantly, the company is gaining steam among institutional investors: Its institutional investor count jumped 50% year over year in 2021.

The company's high user count has led it to become one of the largest crypto platforms in the market in terms of its assets on the platform. The company had $278 billion in assets at the end of 2021, which is almost three times larger than Robinhood Markets(NASDAQ: HOOD), which totaled $98 billion by the year's end -- and that includes all of its assets like stocks and options -- showing just how dominant Coinbase is in the crypto industry.

As the industry leader, Coinbase has benefited immensely from the major price growth in cryptocurrency, driven by Bitcoinand Ethereum.

Bitcoin Price data by YCharts

Coinbase has capitalized on this explosive growth, putting up jaw-dropping financial figures consistently over the past year. In 2021, Coinbase's revenue skyrocketed 545% compared to 2020 to $7.36 billion. What's even more impressive is that the company has been able to grow its profitability even faster. For the full year, its net income soared 1,025% year over year to $3.6 billion, while its free cash flow -- which primarily consisted of growth in custodial funds -- reached $10.7 billion over the same period.

What is critical about this revenue growth is that it is diversified across many different cryptocurrencies. The company made only 46% of its transaction revenue from Bitcoin and Ethereum activity in 2021, with the rest coming from other cryptos. This declined compared to 2020, when Bitcoin and Ethereum made up 56% of transaction revenue, and is significantly lower than other trading platforms.

Robinhood, for example, had 32% of its total revenue come from just one cryptocurrency, Dogecoin, in the second quarter of 2021.Severe reliance on trading activity from just one coin can result in top-line volatility and pose a risk to the business, similar to severe customer concentration. Therefore, it is good to see Coinbase's reliance on Ethereum and Bitcoin shrinking.

Coinbase thrives on trading volatility and price appreciation, both of which have declined in the first quarter of 2022. This could cause MTUs to fall from 11.4 million in 2021 to as low as 5 million in 2022. On the flip side, however, management believes MTUs have the potential to grow as high as 15 million for the coming year, showing how unpredictable the crypto space can be. In 2022, its average revenue per transacting user will likely drop to pre-2021 levels, meaning it could range anywhere from $34 to $55.

2022 might be a period of slower growth for Coinbase, but over the long term, it's looking to expand its platform -- along with its lead over competitors. The company is experimenting with a subscription service with access to commission-free trading and 24/7 customer support. Coinbase is also building a non-fungible token (NFT) platform, and it is even working on allowing users to create decentralized applications.

Coinbase is quickly becoming the one-stop shop for every service someone may need in the decentralized world. Shares trade at just 13 times earnings -- a steal for a company with the brand name and market leadership that Coinbase has. With that, its fast growth, and aggressive investments in its future, Coinbase looks like a great way to invest in cryptocurrency.

This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis even one of our own helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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Want to Invest in Cryptocurrency? Consider This Stock, Which Grew 545% in 2021 - The Motley Fool

London March 3rd, 2022 Smart Finance declares the launch of its avant-garde decentralized finance (DeFi) platform based on leading-edge artificial intelligence, machine learning and mathematical expectations. Coupled with its token, Smart Finance will ensure a safe and economical way of trading by optimizing profits on the cryptocurrency market. The 3 computer-aided technologies also allow for more efficient trading with optimal results and a safeguard against typical human errors.

During an interview with the Founder of Smart Finance TheZarchitect, said Artificial Intelligence is the ultimate game-changer in the crypto sector. AI provides a smart and powerful automated trading robot that can estimate crypto market values and automatically trade for you. This is the best crypto technology and the most efficient and straightforward method for trade monitoring and dedicated oversight. At any given time, you will know the status of your portfolio.

During market days, prices fluctuate rapidly, providing opportunities to generate consistent revenues. To maximize profits from these price movements, large volumes of data must be processed quickly. The Artificial Intelligence and Machine Learning capabilities at the heart of Smart Finance offer its users a great advantage through processing large quantities of data quickly, and accurately.

Indeed, the most eminent assets of AI and ML are their abilities to reduce human error, besidesanalyzing large quantities of information in short time spans.

Smart Finance brings a plethora of unique features to its users, adding value and safeguarding the investor. The AntiScamAI is an AI-powered tool that analyses new token projects to determine and expose potential scams.

ASAI works on a three-step analysis:

The content of the project website is first analyzed, such as the text and images used. Additionally any white paper and related social media are checked. The AI analyzer checks and rates the content based on the writing fluency level, any plagiarisms, paraphrasing from other projects and any images that have been copied.

The token smart contract for the project will be checked for red flags and typical tests used during full audits are leveraged. It checks if the liquidity is locked, tests the token ownership, checks the maximum allowed taxes and whether a block from selling function exists.

The final step in checking the project is to search online content general for market consensus. Leveraging NLP (Natural Language Process), we check a defined scope of crypto-orientated news websites and discussion forums.

Another feature is our Whale AI Tracker, which can track the wallets of user selected whales. The AI engine will be able to monitor for transactions, and copy them before they complete. Utilizing this feature allows you to trade as the whales do, and profit when they do.

Finally, we have an auto-trading AI powered bot. A first in the crypto world to be powered by AI, it provides a loss insurance to the user.

A Smart Finance spokesperson explained, The main advantages of AI and ML are the ability to analyze large amounts of data, an amazing ability to learn, and benefits of taking action with accuracy and speed.

At the center of the Smart Finance AI platform are the neural networks. These powerful networks produce forecasts around the dynamics of the cryptocurrency market. The system monitors, compares and forecasts exchange rate variations during the trading day with accuracy of up to 90%. Smart Finances approach centers around technical and fundamental analysis.

In order to determine the mood of the crypto market, an investor requires analysis of a large amount of data. This includes articles, blogs, forums and even the comments that go with them. Our platform, which is built on artificial intelligence technologies, automatically performs the analysis and provides instantaneous, actionable results, added Neil Doody, CTO of Smart Finance.

The token underneath Smart Finance also comes with its own value-added tokenomics, designed to encourage and provide value to long term holders. On all buys and sells of the SMF token, a 11% tax is levied, and all existing investors are rewarded with 3% in USDT. This is a great way to reward our long term investors, who will accrue rewards through each transaction that is made.

We also offer staking, you can stake your tokens to receive daily compounding interest. When you stake your tokens, you will continue to receive rewards from the tax distributions in USDT.

For more information and updates, please visit:

Website: https://smartfinancetoken.com

Telegram: https://t.me/SmartFinance_SMF_AI

Twitter: https://twitter.com/SmartFinance_AI

This is a paid press release. Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

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Smart Finance announces official launch of cryptocurrency platform based on AI and machine learning - Cointelegraph

By Brian Moir

At first, everyone is overwhelmed by new technology. Blockchain technology has been equated to when the internet was invented or even the wheel. Its a booming industry that is going to revolutionize the world as we know it.

This will be a basic level intro into the world of decentralization, technological revolution, and being in control of your own financial future. You can do anything from tracking the food you eat from farm to table (ripe.iohttps://ripe.io/about) to being able to pay anyone anywhere in the world in seconds basically fee-free (Ripple (CRYPTO: XRP),https://xrpl.org/). There are endless use cases for blockchain technology and we are just now getting started.

So the news is now being bombarded with new cryptocurrencies, ICO/ IFOs, blockchains, and NFTs. I am sure you have seen headlines of digital art ( that you would think you could just download from anywhere ) going for >$60 MILLION USD, or that even Charmin and Taco Bell( yeah that toilet taco combohttps://decrypt.co/62411/taco-bell-to-charmin-10-big-brands-jumping-on-nft-bandwagon) is getting into the NFT game, but Im not really here to get into the ins and outs of NFTs. I here to give you a breakdown of how to start down this wild rabbit hole that is Crypto. Im going to give you a birds-eye view of what makes blockchain technology work and the rundown of crypto investing in general. Im just an average guy who can break it down in easy-to-understand terms (hopefully at least). I wholeheartedly believe that the new phase of people investing in crypto is here to stay and keep rising. If crypto is something that I am seeing people in their 60s and 70s start investing in, when they have trouble with their Gmail account, I know damn well we have something of note on our hands. Now, I am not a full-on expert in blockchain programming, nor am I a financial advisor, but I have been in the game for long enough to understand what is happening and why. At the moment, I work for an investment/ stock market media company. In my role, I interact with our user base on a day-to-day basis, so I get a good sense of what people are watching and investing in as a whole. I am super passionate about crypto and blockchain technology, and as I said, I am just here to give you a breakdown of whats going on. I will give ideas on what to look out for, how to stay safe, and maybe get a better understanding of this whole new space, so you can finally understand what your grandson/ daughter or nephew/ niece has been going on and on about.

So let's start with the basics: what isthe blockchainand why is it beneficial? Well, the simplest answer is that on the blockchain there is a continuous and fungible ( or non-fungible, (NFT ( non-fungible token))) ledger ( on many networks around the globe ) of interactions that can be searched and viewed by anyone. This allows for an entity to keep records of anything, and that record can not be changed or altered.

Ablockchainis a decentralized, distributed, and oftentimes public, digital ledger consisting of records calledblocksthat is used to record transactions across many computers so that any involvedblockcannot be altered retroactively, without the alteration of all subsequentblocks. (https://en.wikipedia.org/wiki/Blockchain#:~:text=A%20blockchain%20is%20a%20decentralized,alteration%20of%20all%20subsequent%20blocks.)

This is HUGE for how we deal with banking, supply chains, transactions, healthcare, and an endless amount of use cases. Now that you have a basic understanding of what a blockchain actually is, lets move on to a few example of what some of these companies do.

Have you ever wondered if there was a way to check where you produce or meat comes from, every step of the way? What about a way to get access to GPU rendering power that only large production companies can afford, for a fractional cost and get paid to share yours? How about ways to get the highest APY on a savings account with no third-party bank, credit check, or institutional fees? Lastly, what about being able to send money to your family overseas whether they are studying abroad, or you are working in a different country and the fees to send money would cost more than what you are sending and could take days-weeks to arrive? Blockchain technology is the answer and solution to all of these questions and much. much more. I am only giving you the tip of the iceberg here.

Let's start with some examples of blockchain applications for supply chains.

Supply chain data is not always visible, available or trusted. IBM Blockchain helps supply chain partners share trusted data through permissioned blockchain solutions.

In times of disruption, this matters more than ever. Businesses and consumers want brands to guarantee product authenticity, while supply chain participants demand responsible sourcing and better visibility to minimize disputes.

Blockchain for supply chain solutions help supply chain leaders use data to handle the disruptions of today and build resiliency for the future. IBM is setting the standard for creating blockchain solutions for many companies. They have created a product that allows a company to implement their own supply chain onto a ledger that is searchable, scalable, and immutable. This is big because it allows full transparency for the company and its consumers. Builds trust, lowers disputes, increases profit margins, and allows visibility for tracking and transparency with ease. One very significant project that is using the IBM blockchain isAI vaccination distribution with Moderna. Blockchain can provide real-time visibility of vaccine distribution and chain of custody from manufacturing to administration, eliminating blind spots across public and private entities.

ForSupplier Management, using IBM blockchain allows for seamless onboarding, transparency for consumers and receivers, and is quick and of course immutable/ tamperproof.Delivering on your customer promises starts with suppliers delivering for you. No matter how strong your supply chain team may be, finding the right suppliers to meet your business needs is costly and time-consuming. Trust Your Supplier is changing all that with a secure, blockchain-based solution for identifying, onboarding and managing qualified suppliers, no matter what industry youre in. Find out why IBM uses Trust Your Supplier.

Finally to finish off just a small portion of what theIBM blockchainis capable of: following a retail product ( or produce ) from end to end and help boost sales.At the start of the pandemic, retailers faced challenges such as keeping products on shelves, supply chains moving, stores open and employees safe. As the world cautiously steps toward reopening, retail sales are increasing. Now is a decisive moment for the retail industry to use blockchain in addressing all the challenges of the new normal.

Now, again, these are just small samples of what IBM has going on with their Blockchain technology. They are totally revolutionizing the SaaS model for blockchain implantation to solve common issues that todays industries face, especially after a global pandemic.

Now that was a little bit of a deeper dive into just one company, but here will be a quicker, high-level view of some of the more niche blockchain companies, that are more focused on a specific solution.

The Render Network, through the use of RNDR tokens, is the first network to transform the power of GPU compute into a decentralized economy of connected 3D assets.

OTOYs vision is to distribute the framework of the existing rendering service in OctaneRender using RNDR, a digital token built on the Ethereum blockchain.

The Render Network is designed to connect users looking to perform render jobs with people who have idle GPUs to process the renders. Owners would connect their GPUs to the Render Network in order to receive and complete rendering jobs using OctaneRender. Users would send RNDR to the individual performing the render work and OTOY would receive a small percentage of RNDR for facilitating the transaction and running the Render Network.

Now all of these are what are called Defi ( Decentralized Finance ) apps. There is no one sole owner or decision-maker for these programs and they have been democratized and decentralized. There are controlled by tokens holders of tokens called Governance Tokens. This means you have to mine their proprietary token in order to have a say in how the application evolves. Each one has a different way to earn their token, and each one provides a different service. The one I wanted to spend more time on than the others is UniSwap, but I will get to that in just a second. The thought of decentralized finance is super appealing because it puts control of your finances into your own hands, and takes out a third-party of fees, regulations, and limitations. With no stipulations and open to anyone. The DeFi movement is groundbreaking because it gives everyone in the WORLD access to financial services that were limited to only certain areas or regions. It takes the power away from big banks monopolizing the market and paying fees while they profit from your hard-earned money. Now Defi is not for everyone, and there are some centralized crypto savings apps out there that are well established and can be actually safer than some defi ones (Coinbaseis a tried and true, safe exchange/ wallet, as iscrypto.comandBinanceUS (CRYPTO: BNB)I am going to do a separate article on these soon)**. Always make sure to do your research before putting your money into anything ( Ill dive deeper into this a little later).

Uniswapis a protocol for creating liquidity and trading ERC-20 tokens onEthereum (CRYPTO: ETH). It eliminates trusted intermediaries and unnecessary forms of rent extraction, allowing for fast, efficient trading. Where it makes tradeoffs decentralization, censorship resistance, and security are prioritized. Uniswap is open-source software licensed under GPL.Uniswap is one of the largest open-source and successful Dex/ defi programs out there. It can be a little expensive to swap tokens but has large liquidity and pools for high APY ROI. I wanted to give a little more info on this one because it is setting the standard for defi across the board.UniSwapis one of my top projects to keep up with and be a part of.

My last portion of blockchain/ cryptos to take a look at is payment processors specifically:

Stellaris an open-source network for currencies and payments. Stellar makes it possible to create, send and trade digital representations of all forms of money dollars, pesos, bitcoin, pretty much anything. Its designed so all the worlds financial systems can work together on a single network.

Stellar has no owner; if anything its owned by the public. The software runs across a decentralized, open network and handles millions of transactions each day. Like Bitcoin and Ethereum, Stellar relies on blockchain to keep the network in sync, but the end-user experience is more like cash Stellar is much faster, cheaper, and more energy-efficient than typical blockchain-based systems.I will let their description give you the jest of what it going on with them. I use them frequently for moving my crypto around and highly recommend their platform. As a former developer myself, I am always excited about amazing open-source projects that I can get behind and are making the world a better place.

Now that I have given you the rundown on what the blockchain is and on a few different companies with what they do, I will leave you with some safety guidelines for investing and how to maneuver around the decentralized web.

These key points will be crucial for being in this space. You can find them anywhere and they are pretty much common sense once you are familiar with this new wild west that is crypto.

That's pretty much the jest of what blockchain and crypto tech is. I know it was kind of a longer read, but I hope you enjoyed it and learned something. I wanted to make a disclaimer, that I am not a financial professional, and I do have affiliate links in some of the links with **. My goal is to bring crypto and blockchain to as many people as I can. I know there are a ton of people out here writing and doing the same, but I think that's a wonderful thing. If this is your first entry into this space, I hope you stay, make a better future for yourself, and give something back to this community. It's an amazing movement and I am thrilled to be a part of it.

Read more:
Where Do I Even Start with Blockchain Technology Or Cryptocurrency Investing? - Benzinga - Benzinga