Federal Reserve Chairman Jerome Powell says that he does not see cryptocurrencies as a financial stability concern. However, he noted that they are risky and “there’s big consumer issues for consumers who may or may not understand what they’re getting.” Fed Chair Powell Says Cryptos Are Risky but Currently Not a Financial Stability Concern Fed […]
Trading app Robinhood has announced a new feature that would allow users to gift cryptocurrencies to their friends and family. This comes as the holiday season is in full bloom and people are scrambling to get the perfect gifts for their family and friends this Christmas. This new feature will allow for the seamless transfer of crypto from one user to another inside the Robinhood app. Crypto Gifting Made Easy Robinhood announced via a blog post on Thursday that it was rolling out a new feature on its platform. The gifting feature would allow users to share crypto with their friends and family through the app. The push behind the feature was encouraging holiday shoppers to instead skip the long lines and pressures of last-minute shopping for gifts that end up worthless after the holidays in favor of something that appreciates in value like cryptocurrencies. Related Reading | Crypto Market Bloodbath Creates Largest Stretch Of Fear Since April Peak Robinhood has made its name as one of the leading trading apps in the United States, with 22 million users in the country. A large demographic is Millenials who are more likely to gift crypto to their friends and family. Users can choose from a list of seven cryptocurrencies that they want to gift to family and friends and then send the crypto gift to them inside the app. In addition, users are able to send a unique design and personal message with their crypto gift to make it even more meaningful. How To Gift With Robinhood Inside the Robinhood app, users can click the “Gift” button and then choose from a list of seven cryptocurrencies that they want to gift. These include Bitcoin (BTC), Ethereum (ETH), and investor favorite Dogecoin (Doge). Next is to choose the method of delivery for the users. This could either be by text or by email and the recipient will get a link to redeem the gift. Related Reading | FED’s Powell Doesn’t Think Crypto Risks Financial Stability Once a crypto gift is sent, the recipient will have a total of 14 days to redeem it. If they are already a Robinhood user, they are able to redeem the gift inside of the app. However, if they are not a user, they will need to sign up to claim the gift. If 14 days elapse and the recipient does not redeem the gift, then the crypto is sent back to the sender at no cost. Robinhood users can send as little as $1 to their recipient of choice and pay 0% in commission when they do so. Featured image from 9to5Mac, chart from TradingView.com
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A sizable portion of this world’s population has grown to love trading, buying and selling with all kinds of cryptocurrency assets as well as NFTs. This makes sense too as after all, who wouldn’t want to be a part of one of the fastest-growing industries of all time and earn a lot of money while doing so? However, with such popularity also comes the risk of investing in certain cryptocurrency projects which may turn out to be disingenuous and fraudulent. Rug pulls A ‘rug pull’ occurs when developers steal funds from investors and quit the project after a large sum has been allotted to the fraudulent DeFi project. These projects are typically established by individuals with ulterior motives and evil intent. One of the more recent famous rug pulls was that of the ‘Squid Game (SQUID)’ cryptocurrency, a project which looked to cash in on the massive success experienced by a Netflix show of the same name. After successfully drawing in numerous investors, it did not take long for rug pull reports to start coming in. Therein lies the problem though, as a large number of investors usually prefer to ‘get rich quick’ and so end up investing in projects which are based solely on the hype, with this usually resulting in substantial losses. Nowadays, the NFT sector is experiencing similar problems, as many individuals involved with NFTs often invest in projects that they know next to nothing about. Some of the more well-known NFT rug pulls involve the ‘Baller Ape Club’ (which was an obvious copy of the ‘Bored Ape Yacht Club’) and the ‘Iconics Presale’, which involved a teenager stealing a massive 1,000 SOL before deleting all social media accounts and activities. What’s the solution? The solution is rather straightforward and simple, which is to utilize AI-driven and other data analytics to help investors make more informed decisions. There are already many groups that are already working on this such as Delphi Digital, Dune Analytics, and Defy Trends. Defy Trends’ all-women team, in particular, had actually used both on-chain and off-chain data analytics to predict the crash which happened this past May. Imgesu Cetin, CEO and founder of Defy Trends believes using string analysis and data science algorithms to deliver real-time information on market sentiment, as well as the fundamentals is key. “We are able to use AI-powered market forecasting to give investors the information they need to make informed decisions without doing all the thinking for them,” said Cetin. “There are numerous trading bots out there, but we think our approach gives people the information to be informed of what is happening on-chain and off-chain so they can focus on the metrics they think matter.” The point is though that investors need to be made aware of the project that they are investing in and using data analytics would hence appear to be the answer. In fact, knowing data that occurs on a blockchain (on-chain) as well as all that transpires outside of it (off-chain) can often mean the difference between investing in a viable project or spending money on a blatant scam. As cryptocurrencies and NFTs become increasingly popular, so too will the aforementioned fraudulent activities and so one can never be too careful nowadays and should thus rely on data analytics.
I mean this games can be somehow related to metaverse but they aren't even part of it. You are being tricked to spend your fiat to nonsense called digital land in a centralized laggy game full of bugs because of the hype triggered by Facebook. I don't try to lecturing me that years before there…
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Hello fellas Is is possible to buy an ENS throught L2? I've searched everywhere and found nothing. For reference I have ETH on Binance and obv I need to take it out to a Wallet. Binance (using the lowest possible tx value) > Wallet > ENS Thanks! submitted by /u/JAKZ- [link] [comments]
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