How to Add Utility to an NFT: Practical Tips

NFT

What are NFTs and What Is Their Potential?

NFTs emerged not so long ago, around 2012-2013, and were initially issued on the Bitcoin blockchain. NFTs are digital tokens whose main utility is to prove the ownership of any asset, thus their appellation Non-Fungible-Token, meaning that every NFT is unique and identifiable. Art and utility NFTs grew fast in popularity during 2021, generating a whopping $2 billion in the first quarter only and attaining a peak in popularity at the beginning of 2022. The hype didn’t last though, and the amount of interest NFTs initially had then slowly faded away. That’s mainly so because a large portion of them was created without adding utility, diminishing those NFTs’ usefulness in the long term.

NFT utility means real-life use cases and benefits that owning an NFT may procure you. The more there are, the more holding onto this NFT makes sense, giving it long-term value. To give you a concrete example, imagine you just bought a painting whose only intrinsic value is decorative. All you can do with it is either appreciate its aesthetics while hanging on your wall or sell it. But instead of this, the gallery from where you bought it allowed you to expose it in future art exhibitions and earn money from lending it. The gallery just created a utility for your painting, and the same pattern can be followed for NFTs.

NFTs’ potential is enormous and they can easily be used in many ways in our daily lives. One example of how NFTs can benefit us is ticketing, where NFT uniqueness and identifiability can avoid many problems concerning counterfeiting, thanks to an NFT being linked to its owner. To push this idea further, the NFT ticket can be used to purchase merchandise on-site, which significantly lowers operating costs, knowing that the artist can sell its products with no middlemen involved.

Another interesting use for any object that has been transformed into an NFT is using it as financial collateral to take out a loan. This allows the owner to use the NFT money value without selling the NFT, but only if he doesn’t default on his loan.

Why Is It Important to Add Utility to Your NFT?

Utility for an NFT completely changes the game, as it offers benefits for owning an NFT, and so increases the demand for it and thus its price. One of the best NFT utility ideas we saw when doing research is the utility the Bored Ape Yacht Club gave to their NFTs, where the token itself doubles as your membership to their club, allowing you to participate in many exclusive organized events, meet the founders and get to know other Bored Ape NFT holders. There is also another category of NFTs, called utility NFTs, which are completely designed around the utility they offer. One example is “Cocky”, whose NFTs give you access to global music events.

NFT projects that didn’t add any particular utility or value to their NFT collections saw their price action rapidly decrease with time, as interest fades out because of fierce competition. For your NFT project to be successful, thoroughly thinking about how to add utility to your project is vital both in the short and the long term, thus allowing you to gather a user base for your project.

Your online community will then help you organically grow your project by sharing it with friends and may also be the first reason why people would want to own your NFT. The idea of having exclusive access to an event or club is interesting here, as people see this feature as valuable, especially if the project gains in popularity — something that you might want to keep in mind while working on your project.

Some Practical Tips for Adding Utility So You Can Get Inspired

The NFT world is huge and has specialized decentralized marketplaces for you to buy and sell NFTs, and to do so effectively, you better create NFTs with utility. Utility NFTs take various forms, such as community NFTs, fantasy sports NFTs, gambling NFTs or social NFTs, depending on where and how the NFT will be used. The image above shows all the different types of utility NFTs.

So now, let us give you a few examples of how to add utility to an NFT collection and potentially make a difference. You first need to consider how important it is to differentiate yourself from the competition. New NFT projects flood the market every day; many are just a quick way for their creators to make money, and many others are intended to last but do not succeed. You need to build utilities for your NFT and to do so, here are some practical ways and tips to get inspired from:

Exclusive Membership NFTs

  • Exclusive membership to a club is a great way to involve your customers. People like to be part of bigger things, giving them a feeling of belonging.

Merchandise

  • The most common way to give utility is to include free merchandise, as it is appealing to have a physical product that complements its digital counterpart.

Providing services

  • Another popular way to add utility to NFTs is by providing a service to your NFT holders. The service you provide can be anything relevant to your company or organization and will help you build a better relationship with your customers.

Voting rights

  • You can also involve your community in the project you are building. This can be done in many ways, such as giving voting rights that will allow your community to steer your project with you.

In-game NFTs

  • In case your project is a metaverse or a video game on the blockchain, providing in-game NFTs is a great way to let your community have a unique character they can use to attend metaverse events, or benefit from unique characteristics in case it’s a video game. You can also further incentivize people to participate in your digital events by offering digital collectibles.

Crypto and Airdrops

  • To help yourself while selling your NFTs, you can develop an elaborate business strategy in order to involve your community to the maximum. To do so, you can create a cryptocurrency and airdrop some of it to your NFT holders, while of course thinking about other use cases for both your NFT collections and the associated cryptocurrency.

Whitelist Opportunities

  • Finally, you can provide whitelist opportunities. This means giving early access to your future projects to current users, further strengthening your relationship with loyal customers.
How to Differentiate Yourself from the Competition While Adding Utility

Creating NFTs and adding utility to them is not the only thing that will differentiate you from the competition. Considering how you will brand your project is an important aspect for your NFT collection to stand out. Branding is an important concept in marketing and stands for the process of creating a distinct identity for a business in the mind of the target audience.

To give you a well-known example, what does a bitten apple makes you think of? Obviously, Apple! The idea here is simple but may be complex to apply. Think of branding as the blueprint for how you want the world to see your project. You can follow these simplified steps, but don’t forget to research further about how branding is done.

  1. Do some competition and target audience research;
  2. Decide what is the focus of your project and its personality;
  3. Choose an adequate name for your project;
  4. Create a slogan;
  5. Choose your project’s aesthetic (colors and font);
  6. Create a logo for your project;
  7. Apply your branding throughout all the layers of your project;
  8. Build a community.

Now that you have an idea of the different layers that your NFT collection should have, you are ready to experiment with various designs and utilities to make your project really stand out, while focusing on being easily recognizable by your online community.

Posted in NFT

What is AMA in crypto?

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A typical question that especially newbies who are just starting to learn about cryptocurrency ask is “What is AMA in crypto?”. AMA stands for “Ask Me Anything”. It is a popular format on Reddit, where people can ask questions about anything to the person who is hosting the AMA. In the cryptocurrency world, an AMA can be a great way to learn more about a particular coin or project. The host of the AMA will typically answer any questions that are submitted by users.

If you’re interested in learning more about a particular coin or project, then an AMA might be worth checking out.

Types of Cryptocurrency AMA

There are two main types of AMA in the cryptocurrency world: those hosted by the development team of a particular coin, and those hosted by members of the community. Development team AMAs are typically focused on providing information about the project. This can include updates on the project’s progress, new features that are being worked on, and more. Community AMAs, on the other hand, are typically more relaxed. They’re a great place to learn about how people are using a particular coin or project, and to get tips and advice from other users.

Typical Ask Me Anything Crypto questions

Here are some examples of questions that might be asked during an AMA:

  • What is the project’s roadmap?
  • What are the team’s plans for the future?
  • What are the main features of the project?
  • How can I get started with using the coin/project?
  • What are the benefits of using the coin/project?
  • Are there any risks associated with using the coin/project?

These are just a few examples of the types of questions that might be asked during an AMA. Of course, you can ask any question you want, and there’s no guarantee that it will be answered.

How to participate in an AMA?

If you’re interested in participating in an AMA, the first step is to find one that you’re interested in. You can typically do this by searching for the coin or project on Reddit, and then looking for an AMA thread. Once you’ve found an AMA that you’re interested in, simply post your question in the thread. The host of the AMA will then answer your question.

Keep in mind that not all AMA threads are created equal. Some AMAs may be much more active than others, and you may not get a response to your question if the AMA is inactive.

Shibaswap: What It Is and How to Use It

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What is Shibaswap? Shibaswap is a new way to swap cryptocurrencies. With Shibaswap, you can swap your Bitcoin for Litecoin, Ethereum, or any other cryptocurrency in just a few seconds! Plus, there are no fees when you use Shibaswap. In this blog post, we will show you how to use Shibaswap and how to get the most out of this innovative new service!

How Shibaswap works

First, let’s take a look at how Shibaswap works. When you use Shibaswap, you are actually swapping your cryptocurrency for another cryptocurrency. For example, let’s say that you have Bitcoin and you want to swap it for Litecoin. To do this, you would simply send your Bitcoin to the Shibaswap address and then receive Litecoin in return. It’s that easy!

Plus, with Shibaswap, there are no fees! That’s right when you use Shibaswap, there are absolutely no fees! This is because all of the fees are paid by the person who is initiating the swap. So, if you’re swapping Bitcoin for Litecoin, the fee will be paid by the person who is sending you Bitcoin. This is a great way to save money on your cryptocurrency swaps!

How to use Shibaswap

Now that we’ve seen how Shibaswap works, let’s take a look at how to use it. Using Shibaswap is easy! Simply go to the website and enter the amount of cryptocurrency that you want to swap. Then, select the currency that you want to receive in return. That’s it! Once you’ve made your selection, your cryptocurrency will be swapped and sent to your wallet in just a few seconds!

Shibaswap is a great way to swap cryptocurrencies quickly and easily. Plus, with its low fees and fast transaction times, it’s sure to become one of your favorite ways to swap cryptocurrencies! Try it out today and see for yourself how easy and convenient it is to use Shibaswap!

New way to swap crypto

If you’re looking for a new way to swap cryptocurrencies, be sure to check out Shibaswap! With its low fees and fast transaction times, it’s sure to become one of your favorite ways to swap cryptocurrencies. Try it out today and see for yourself how easy and convenient it is to use Shibaswap!

Have you tried out Shibaswap? What do you think of this new service? Let us know in the comments below!

Why you should keep track your crypto transactions

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Cryptocurrencies have become increasingly popular in recent years, with more and more people turning to them as an investment opportunity. However, unlike traditional investments, cryptocurrencies are notoriously volatile and can be extremely difficult to keep track of. This is why it is so important to keep track of your crypto transactions, so that you can make informed decisions about when to buy and sell.

One of the best ways to keep track of your crypto transactions is to use a cryptocurrency tracker. Cryptocurrency trackers are software programs that allow you to track the prices of different cryptocurrencies, as well as their movements over time. This information can be extremely valuable in helping you to make informed investment decisions.

There are a number of different cryptocurrency trackers available on the market, so it is important to choose one that meets your specific needs. Some trackers only track the prices of major cryptocurrencies, while others also track the prices of smaller, lesser-known coins. There are also some trackers that allow you to set up alerts, so that you can be notified if the price of a particular cryptocurrency reaches a certain level.

Once you have chosen a tracker, it is important to keep track of your portfolio. This means regularly checking on the prices of the different cryptocurrencies that you are invested in, and making sure that your overall portfolio is still diversified. Diversification is important in any investment portfolio, but it is especially important in the volatile world of cryptocurrencies.

If you are not already tracking your crypto transactions, now is the time to start. Cryptocurrencies are here to stay, and they are only going to become more popular in the years to come. By keeping track of your investments, you can make sure that you are making the best possible decisions about when to buy and sell.

The risks, rewards and efforts of Cryptocurrency

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Crypto is a volatile market. Enter at your own risk. This is not investment advice. This is a document describing how I am using cryptocurrencies to generate a passive income for myself.

Of course, this works both ways. You can lose part of your investment but on the other hand, you might get big returns on your investment if a coin you hold goes 5x, 10x or more.

I list the Risk, Reward and Effort for every strategy in this guide from 1 (low) to 5 (high). These values are relative to the other strategies in this guide.

Referral links like the one I list in this document are another way to generate passive income. Rewards vary from % of exchange trading fee paid out to me, to a 1 time bonus, % of subscription fee or other ways.

This document is a work in progress. I will add some things in the future when my strategy or things change. If this guide is unclear for you at any point, please do let me know so I can update it! Should be 100% clear for everybody but I realise that’s not always easy 🙂

Security

Security is important since money is involved. I use a separate email address that I don’t use for anything else with a unique, difficult password and two-factor authentication.

Additionally I use Apple’s built in iCloud Keychain as a password manager to propose and save unique, difficult passwords.

What are NFT’s (Non-Fungible Tokens)?

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Non-Fungible Tokens are a new and exciting form of digital assets that may change the way we interact with one another in our online communities.

What are non-fungible tokens?

Non-fungible tokens, or NFTs, are a new form of digital asset that can be used in various different ways. They are similar to the items you collect in games such as Pokemon cards and CryptoKitties because they have unique attributes and cannot be duplicated.

NFTs were first created by 0xProject which is an open protocol for exchanging ERC20 assets on the Ethereum blockchain. The 0xproject defines an NFT as “an item with some intrinsic value.” This means that the token has something special about it, unlike bitcoin which can only be traded for other currencies.

Thus, in essence a non-fungible token is a cryptographic data token stored on a digital ledger (called a blockchain) that certifies any digital file to be unique. These NFT’s are used as a certification that a digital asset is unique and therefore not interchangeable.

How are NFT’s being used?

NFT’s allow users to create and trade digital assets that can have any sort of attributes attached to them, like rarity or ownership history.

Originally created as an open protocol on Ethereum by the 0xProject team in 2017, NFTs were designed as a replacement for traditional collectibles such as baseball cards because they provide value through their uniqueness while also being affordable thanks to smart contract support. This makes it possible to purchase items with virtually no barriers (e.g., high cost), something we might not be able see happen again if bitcoin transaction fees become too expensive due to increased demand from adoption.

Where can I buy NFT’s?

Non-Fungible Tokens can be purchased on any major cryptocurrency exchange with bitcoin, ether, and a host of altcoins. NFT’s also have an infinite variety of use cases in games like CryptoKitties, or NFT-based networks include Decentraland and Arkane Network.

How do I invest in this new technology?

In order to purchase these new assets for your collection you need to send Bitcoin (BTC), Ethereum (ETH) or some other type of digital currency to whichever seller is hosting it on their platform.

This means you will need to have an account with a cryptocurrency wallet and buy Ether before being able to purchase land in this virtual reality.

Why is it important for creators to have ownership of their creations?

Creators who use NFT’s for their content can prove digital ownership and authenticity with blockchain technology, which is an immutable ledger known as a ‘blockchain’.

For example, if someone wanted to sell a virtual sword they created in the game – this person would need access to the original block on Ethereum where it was generated so that he could show its true value.

The future of NFTs – what’s next for this new technology?

Now that we’ve seen what’s possible with Non-Fungible Tokens, it will be exciting to see the ways in which they are used next.

As more and more people become familiar with this new form of digital media, I am sure there will be many creative uses for them. From gaming to music distribution; from art collecting to cryptocurrency trading – who knows where these tokens might show up?

What are EFT’s (Exchange-traded fund)?

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Most of us are aware of traditional stocks, but how many people know what EFT’s are? In this article, we will be discussing what EFT’s are, and how they connect with the cryptocurrency investment scene.

What are EFT’s (Exchange-traded fund)?

Exchange-traded funds or ETFs are a type of investment that can be traded on the stock market. They are often lower risk than individual stocks and provide diversification for investors who want to hedge their bets against doing poorly in one sector.

They are traded like stocks, but they differ from stocks in a few key ways;

  • They are not always linked to the performance of an individual company; instead EFTs can track indexes and baskets of assets (such as all S&P 500 stocks) or commodities such as oil or gold.
  • EFT’s typically have lower fees than mutual funds because their management is done by people who trade on exchanges, rather than professionals employed by a fund company.

How do EFT’s work?

EFTs are traded like stocks, and they’re usually less risky than individual stocks. They may also be more diversified for investors who want to hedge their bets against doing poorly in one sector.

Unlike mutual funds which invest in a basket of securities only from the same company or industry, EFTs can track indexes (such as all S&P 500 companies) or baskets of assets (such as all energy-related holdings).

As mentioned before: the ETF managers who handle these funds typically have lower fees than those connected with traditional funds because they trade on exchanges rather than being employed by fund management firms that generate revenue by charging high operating costs — and performance is monitored through daily pricing data instead of quarterly statements.

The best time to buy an ETF?

The best time to buy an ETF is when it’s at its cheapest. This can be done by researching the fund, looking for the bid/ask volume ratio and comparing it with other funds in a similar sector, or by using online tools such as investing apps like Motif Investing.

To know if you’re getting a good price, compare market prices before buying ETFs on your own. It will also help if you have expert knowledge of the market because not all investments are created equal. For instance: some sectors might be more volatile than others so stocks within that sector could grow faster while crypto-currencies may take longer to see growth due to their smaller numbers of investors (and lack of regulation).

Why should I invest in an ETF instead of a mutual fund or stocks/bonds?

The main reason is that ETFs are less expensive and more liquid than mutual funds. Mutual fund managers invest in a variety of stocks within the same sector, so if one company goes bankrupt, your whole investment is wiped out. ETFs invest across several different sectors to mitigate risk which means you will likely see returns even if some companies go bust while others flourish.

Additionally, with an ETF there’s no need for you to constantly monitor investments because they trade on stock exchanges just like any other security (which equals less work). Stocks and bonds can also be bought through stockbrokers or brokers; however it’s not as simple as buying an ETF online from your phone or computer!

Do crypto EFT’s exist?

Since the crypto space is very new, not many crypto ETFs are available for investing. One of the few that has been around for a while and will invest in both Bitcoin (BTC) and Ethereum (ETH) is the Iconomi platform.

How can you invest in EFT’s?

If you want to invest in EFTs, the easiest way is to buy them through a brokerage account. You can also purchase stocks via an online broker just like any other security, but this might require additional steps and requirements.

Pros and cons of investing in an ETF

The positive aspects of investing in an ETF is that they offer low fees and diversification across different industries. In a nutshell, if you want to invest for the long-term without too much work, then this might be the fund type for you.

However there are also disadvantages: some firms might provide better services than others or have more competitive prices. Additionally many brokers will charge commission, which could affect your investment returns over time.

That being said it’s still worth considering whether ETFs suit your needs – as with any other vehicle available on the market these days!

How does the future of Exchange-traded funds look like?

Exchange-traded funds have made investing accessible to everyone, and it’s easier than ever for anyone with a computer or smartphone access to invest in different aspects of the market.

However – With all this potential opportunity comes new risks as well; be sure you understand your investments before you dive in!

Introducing Crypto Mining: How to Mine for Cryptocurrencies

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Crypto mining is the process of acquiring cryptocurrency by solving complex mathematical algorithms. It’s not as easy as it sounds, but in this blog post we’ll show you how to mine for cryptocurrencies yourself!

Mining a coin usually takes about ten minutes and requires your computer to solve complicated math problems before you can acquire any coins. All you need is an internet connection and some time on your hands to get started!

What is cryptocurrency mining?

Cryptocurrency mining, in short, is the process of solving complicated math problems to acquire coins. Mining a coin usually takes about ten minutes and requires your computer to solve complicated math problems before you can acquire any coins. All you need is an internet connection and some time on your hands to get started!

How does cryptocurrency mining work?

The first thing to known about cryptocurrency mining is that it is a process of solving complicated math problems using computers in order to acquire coins. There are many different cryptocurrencies and each has its own method for acquiring coins, but the general idea remains the same: solve math problems to get more currency.

Cryptocurrency miners use their computers to connect with other cryptocurrency networks by running software programs which perform calculations on blocks of data. The amount of time required to mine a coin varies depending on the complexity and length of these calculations – some can take as little as ten minutes while others may take days or weeks!

The basic concept behind cryptocurrency mining requires your computer’s CPU (central processing unit) to work really hard, performing complex mathematical equations. Your computer does this so quickly that you won’t even realize the fact that it’s running.

Cryptocurrency mining is a process in which transactions are recorded and put together into blocks, with the goal of verifying the previous transactions to create new blockchain as well as ensuring that no one spends their coins more than once. The miner who successfully solves these math problems gets rewarded by receiving newly created currency (e.g., bitcoins).

How to start your own crypto-mining operation at home?

Readers who wish to get started with crypto mining, need to first decide what kind of hardware they want to use. There are three options:

  • GPU mining; perfect for home mining operations, because they take up very little space and can be powered by a regular power outlet.
  • CPU (central processing unit) mining, which is the most popular type for beginners because it’s rather simple and doesn’t require any extra pieces of equipment except a PC with a good processor.
  • ASIC miner that performs better than both of these choices but requires substantial initial investment. The coolest thing about this option is that you’re not limited by how many GPUs or CPUs you have – if your computer has four graphics cards then each one can be used as an additional miner! You may need some programming skills in order to set up all those miners though…

After deciding what hardware you want to use, the next step is to decide what cryptocurrency you want to mine. There are many options out there, with Bitcoin being the most popular (and profitable) choice for miners because of its market dominance and increased adoption by merchants.

The next step for mining cryptocurrency is to calculate how much power your hardware can provide in order to find a coin that will generate enough profits without exceeding your device’s maximum performance. This is called “profitability”.

Pro Tip: Don’t forget to take your electricity costs in account.

After getting your hardware and picking the coin you want to mine, you only need the software in order to start crypto mining!

What software can I use for crypto-mining operations?

The software you need is called an “application”, and there are many to choose from. Some of these applications are:

  • Nicehash: This application can mine a variety of cryptocurrencies, depending on the algorithm chosen. It also has features for more advanced mining operations like tweaking your power usage or hashing speed to maximize profits.
  • CryptoDredge: A CPU miner that supports both AMD and Nvidia graphics cards, with low electricity consumption rates while providing stable hashrate performance without overclocking (and thus voiding warranties).

Where to find the best deals on hardware for crypto-mining operations?

The best CPU’s for crypto mining are the AMD Ryzen Threadripper 2990WX and Intel Core i-9900K.

The best graphics cards for mining Ethereum, Monero, SiaCoin are Nvidia GeForce GTX 1080 Ti, Vega 56, or RX 580/570; with very high hashrate performance without overclocking (and thus voiding warranties).

Keep in mind – The better your hardware is at performing its job – the more electricity it will consume to do so. So you want a device that has an optimal balance between computing power and energy efficiency. One way to measure this is Watts Per Joule (WpJ), which measures how many watts are required per joules generated over time.

How much money can you make from mining cryptocurrencies like Bitcoin and Ethereum?

Depending on your setup, and how much you want to be involved in the mining process, there are a few ways to answer this question.

The cryptocurrency market is explosive and will likely continue to grow over time as more people become aware of it’s existence and the technology behind it.

Crypto Mining has its pros and cons but can be an excellent way for some individuals (such as developers) who have experienced drastic increases in their crypto holdings due to sudden rises or drops that they need funding from.

The potential money made can vary depending on your setup: If someone invests $100 into building a rig of GPUs with high hashrate performance without overclocking, which costs about $1000-$2000 – then they could make anywhere between $500-1500 USD per month.

Decentralized Finance: Explaining DeFi, and How It Connects With Cryptocurrency

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Decentralized finance is a new and emerging industry that is taking the world by storm. It is essentially an ecosystem of decentralized applications (DApps) where users are able to access financial services without the need for intermediaries.

In this article, we will be discussing what DeFi is, and how it connects with cryptocurrency.

What is DeFi?

Decentralized finance, or DeFi for short, is an industry that allows users to access financial services without the need of intermediaries such as banks. The ecosystem includes decentralized applications (DApps) which are designed with a focus on trustless interactions and open protocols.

These DApps are typically architected in order to provide a service where there’s no central control entity such as a bank that would take responsibility over transactions when you make payments via another platform like PayPal. This is what makes them so trustworthy because they do not rely solely on one centralized authority – instead all parts of the network have some degree of power and influence in decision-making processes throughout the system.

DeFi can be divided into two categories: fully decentralized systems, and hybrid systems.

DeFi: fully decentralized systems or hybrid systems.

Fully decentralized DeFi networks are defined by many of the following:

  • A protocol that is open source, meaning anyone can contribute to it
  • An aim for decentralization in terms of power distribution among nodes on a network (i.e., no single entity has more control than any other)
  • The use of crypto-token ownership as incentive for participation

Hybrid systems have some centralization but are still considered DeFi because they also typically rely on cryptocurrency holdings as incentives and involve fewer intermediaries between buyer/seller in transactions.

How does DeFi work?

When we dig into the technical aspect of DeFi, we’ll notice how these systems leverage blockchain technology and the tokenization of assets. Specifically, DeFi networks rely on smart contracts as a way to automate transactions.

Smart contracts are computer protocols that have rules encoded in them that can be enforced by an automated system like the Ethereum network without any need for human input or control

Once programmed into a protocol, they cannot be updated or changed – which means errors won’t cause unintended consequences

For example, if two parties agreed to exchange one bitcoin for five ethers (a cryptocurrency) when we use fiat currency this would require multiple intermediaries such as banks and brokers who take fees along with days between settlement time. With DeFi using smart contract programming there’s no middleman, which means you can transact directly with your counterparty, the transaction settles immediately and you can exchange without having to worry about fees.

Decentralized exchanges, prediction markets and stablecoins

There are many use cases of DeFi including decentralized exchanges, prediction markets and stablecoins.

Decentralized Exchange: a group network where information is not controlled by any single person or organization.

Prediction Markets: these allow people to make predictions on future events in order for them to earn rewards when they turn out correct.

Stablecoin: this type of cryptocurrency has a low volatility because its value is pegged against fiat currency like the US dollar (USD) rather than being determined by supply and demand forces within an open market. In other words, there’s no risk of devaluation since the price will always stay at one USD even if someone wants to buy more tokens.

Who can use DeFi?

Decentralized finance can be used in different industries: healthcare (FinTech), real estate (proptech) and more. The most common use cases are:

  • People who want to invest in cryptocurrencies.
  • Companies that want a cheaper and more efficient way of raising capital.
  • Developers looking for funding their projects, instead of or in addition to traditional methods like venture capitalist firms or crowdfunding platforms such as Kickstarter.
  • Individuals seeking investors for their own investments (such as real estate) through online crowd investing platforms. These are typically called Real Estate Investment Trusts (REIT).

What are the risks of using a decentralized financial system?

Since DeFi is a relatively new and under-researched area, there are not many studies that show what its drawbacks might be.

Some people view bitcoin as too volatile to truly function well in this capacity because it can fluctuate wildly on any given day with no warning whatsoever. This could make things difficult for investors who want stable returns and do not wish to take much risk.

Another drawback is volatility; Bitcoin prices change constantly, so someone may invest in something they think will give them good returns but then find out later that their investment has suddenly gone down significantly due to fluctuations in price over time – which means by investing now they’ve lost money since the starting

Is the future of finance decentralized?

The future of finance may be decentralized, but it’s not here yet. Blockchain technology is changing the way we think about money, and this has led to a new generation of financial products that are more efficient than ever before.

The decentralized nature of blockchain has the potential to change everything. There’s a lot of skepticism and fear around the idea, but it is worth investing time in understanding what this technology could do for us all. The future of finance may be decentralized as we know it today—but only if people are willing to take risks and invest their time into learning about how blockchains work. Will you?

A Crypto Buyers Guide: Iconomi Funds

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Cryptocurrency is a rapidly growing industry with an ever-changing landscape. The first thing that everyone needs to know when beginning their crypto investment journey is that not all coins are created equally and there are many factors to take into account before investing.

In this blog post, we will explore Iconomi funds, which offer the best of both worlds by being accessible to beginners while also offering experienced investors the opportunity for higher returns.

What is Iconomi?

Iconomi is an Exchange Traded Fund (ETF) and it provides a way for investors to invest in digital assets. These funds are provided by ICONOMI, a company that has been operating since 2015 but only recently began offering their services publicly through the purchase of ICN tokens on Ethereum.

How does Iconomi work?

The company offers two types of fund: low risk index funds that track major cryptocurrencies (Bitcoin, Litecoin etc.) or high risk actively managed funds with more direct exposure to specific coins and crypto projects.

The price feeds come directly from exchanges which makes creation of new investment products possible without delays caused by manual data collection and aggregation processes typical for conventional asset managers.

what are the benefits of investing in Iconomi?

Iconomi is a very accessible way to invest in cryptocurrency. The minimum investment amount needed for Iconomi funds ranges from just $100-400, which makes it an option for beginner investors.

It also provides the best of both worlds by being able to offer experienced investors higher returns than traditional options like buying and selling assets on exchanges or through ICOs (Initial Coin Offerings).

Investors can choose either low risk index funds that track major cryptocurrencies or high risk actively managed funds with more direct exposure to specific coins. They will have access to over 200 different digital currencies as well as multiple market indexes at their disposal when they decide how much of their portfolio they want allocated towards crypto investing.

Where to store your ICN tokens?

ICN tokens can be stored in the following wallets: Ledger, Iconomi app or any other Ethereum-based wallet. It is also possible to open an account at a cryptocurrency exchange and store your ICN there.

How to withdraw your ICN tokens from the platform?

Once you have purchased ICN tokens, you can withdraw them from the platform by selling your holdings back to Iconomi. You will receive ETH in return and this currency can be stored in any Ethereum-based wallet or transferred elsewhere for trading.

The risks associated with investing in Iconomi funds?

There are risks associated with investing in the Iconomi funds, but they should be managed responsibly. One risk is that there may not be enough demand to buy back ICN tokens from investors. If this happens and a holder has sold their tokens on an exchange, then they will have to find someone who wishes to buy them at today’s price level.

What we invested on: Knepala’s Iconomi fund?

At the start of 2021, Knepala – the founder of The Crypto Knowledge Pool – started a fund on Iconomi and has shown amazing results: +750% after 3 months.

Here is how you can read the statistics above:

  • Orange line = Bitcoin’s price. 
  • Green line = the fund’s performance. 
  • Blue dots = when money was put in & when fees where deducted

Why did we invest in Knepala’s Iconomi fund?

Obviously historic performance is not a guarantee for future performance so why this fund? Why now?

  • The consensus in the Crypto community is that the bull market is just getting started and profit will only accelerate (ie. go up faster)
  • Knepala does the research and finds the new technologies & coins. These smaller cryptocurrencies still have the potential to go 100-1000x unlike most ‘bigger’ cryptocurrencies like Bitcoin & Ethereum.
  • He’s a full time trader and takes profit & rebalances the portfolio when needed so you don’t have to keep an eye on the prizes of all the different coins.
  • Knepala’s strategy is one of the best performing funds on Iconomi which shows in the €3 Million & 724 people following his strategy
  • The CKP community has been sharing the fund with record inflow into the fund past couple of days, pushing the price up
  • According to Knepala, bigger investors (with a similar effect on price) will invest in the coming months.

How to sign up on a Iconomi fund?

If Iconomi sounds like something for you, here’s the steps you need to take to set up your Iconomi account and follow a strategy (such as Knepala).

  1. Use our referral link to sign up here https://www.iconomi.com/register
  2. Verify your identity by providing a valid ID & proof of address.
  3. Deposit Euros from your bank to Iconomi
  4. Bank transfer arrived the next working day from my Dutch bank account
  5. You can also use a credit card but there’s a fee
  6. Crypto transfer from another platform / exchange works as well (<5min for me)
  7. Optionally, but 200% advised: Set up 2FA via Settings – Security
  8. Follow Knepala’s fund via this link: https://www.iconomi.com/asset/KNEPALA?ref=gzFST
  9. I think you can only fund the strategies with EUR, BTC or ETH, not USDT. You can swap USDT into BTC on the website before funding.

The future of Iconomi

If you want to invest, but don’t know where to start or feel like the world of investing is too overwhelming for you, then it’s time to get your feet wet.