What is Chiliz ($CHZ)?
We are at the cusp of the World Cup starting and things are getting exciting. During this time, you might have heard the price of Chiliz (CHZ) has shown substantial increase and wondering what this token is all about.
What is Chiliz?
**Chiliz (CHZ)** is a digital currency that is used by fans of sports teams around the world to purchase Fan Tokens on **Socios.com**. Chiliz was first founded in 2017, by **Alexandre Dreyfus** and launched on the Ethereum mainnet in 2018.
In 2019, socios.com stated operations and quickly partnered with the Italian football team Juventus and the Fan Token **'Juventus ($JUV)'** was available on the platform. This was then followed by the teams **Paris-Saint Germain**, **Atlético Madrid**, **Galatasaray**, **A.S. Roma** and **FC Barcelona.** The national teams of **Argentina** and **Portugal** are also among the early partners. Top clubs in the English Premier League like **Man City** and **Arsenal** are also involved on the platform. The platform is not only for football clubs, teams from the **NBA, Formula One** and **the UFC** also have Fan Tokens on Socios. The platform gives fans of different sports and different teams the opportunity to connect with their favorite teams and vice versa.
How Does Chiliz ($CHZ) Work?
Sport teams around the world can partner-up with Chiliz to create a limited supply of Fan Tokens and then offer them to the teams' fans in the form of Initial Fan Token Offering. Fan will then use the native coin, **$CHZ** to purchase these Fan Tokens in first-come-first-serve bases.
Fans can use these Fan Tokens to participate in votes to make decision concerting their teams. The amount of influence the votes and decisions have on the teams are predetermine by the teams and can create a great sense of engagement with fans.
For Example fans of Juventus chose the song that is played every time the teams scores on socios. And Fans of Barcelona decided on which mural to hang on the team's dressing room.
$CHZ
$CHZ is an ERC-20 token that runs on the Ethereum based Chiliz blockchain. There are a total of 8,888,888,888 CHZ coins but 6,086,972,249 CHZ coins are currently in circulation. The distribution of the token is 15% for strategic acquisitions, 5% for the team, 7% for the seed investors, 3% for the advisory board, 15% for marketing, 20% for reserve and 35% for token sale.
At this moment, CHZ has a market cap around $1.5 billion and ranked around 30 when comparing with other coins' market cap. It is traded on most crypto exchanges including Binance and Coinbase.
The price of $CHZ is currently around $0.25. Over a year ago, the price has reached its all-time-high of $0.878 and its all-time-low was around 3 years ago with $0.004.
Currently, despite the market conditions, the token's price is performing well. The anticipation of the world Cup really fueled-up the price plus the fact that Chiliz founder, Alexandre Dreyfus offering to help FTX users that held $CHZ, aided the price movement.
Final Thoughts
Chiliz provide a unique and great opportunity for fans and sport teams to connect with each other. And using blockchain to do this really shows how valuable this technology is and other unique adoption should follow Chiliz's lead.
**If you enjoyed reading my posts, please follow me for more updates and do share your comments, I would really love to hear from you.**
**Disclaimer**
I am not a financial advisor. The information found here are for educational purposes and cite my personal opinion.
Crypto Options
To put it simply, crypto options is a financial instrument that allows traders to bet on the price of a crypto on a specific future date. Options gives traders the right to buy/sell a crypto at a predetermined price on or before the options’ expiration date.
Here is the link to the full article: https://read.cash/@TikurCrypto/crypto-options-for-beginners-47e475fb
Trust Wallet Token (TWT) & PAX Gold (PAXG) Are In the Green
The controversy brought by FTX nuked the entire crypto market but there are few tokens that are still performing great despite the circumstances. On my previous post, I discussed that Polygon's MATIC and OKX's OKB were staying resilient to the market's drop. But now, the Trust Wallet token, **TWT** and **PAX Gold (PAXG)** showed that not only they are not affected by the current market conditions but they are also registering huge price increase.
Trust Wallet Token (TWT)
Trust Wallet Token (TWT) is the native token of Trust Wallet that can be used for governance and to gain discounts by the wallet users.
The price of TWT showed huge rise recently despite the current market trends, out performing all the major cryptos.
In the last 30 days, the price of TWT managed to show an impressive gain of over 95% which is incredible given the current market conditions. On the start of November the price of TWT was around $1.20 but now its price is around $2.20 *(This price may be different by the time you read this)*.
PAX Gold (PAXG)
PAX Gold (PAXG) is a token that is backed by gold reserves of an American company called Paxos. It was first launched in 2019 on the Ethereum Blockchain. It can now be traded in most crypto exchanges and has become a great way for trader to invest in gold.
In the last 30 days, the price of PAXG has shown substantial increase. On November 4th, the price did fall to around $1,615 but it quickly bounced up to around $1,670. But what's impressive is, in the last 7 days the price of PAXG managed to jump to $1,780 and it's currently holding at around $1,760 *(This price may be different by the time you read this)*.
Final Thoughts
While other major cryptocurrencies have tanked in the last two weeks, some are still doing well. Trust Wallet Token (TWT) and PAX Gold (PAXG) has shown that the saga surrounding FTX can be shrugged off and price gains can occur. I really hope more coins will soon start to over come the current market's down turn and start registering price gains.
**If you enjoyed reading my posts, please subscribe for more updates and do share your comments, I would really love to hear from you.**
**Disclaimer**
I am not a financial advisor. The information found here are for educational purposes and cite my personal opinion.
Trust Wallet Token (TWT) & PAX Gold (PAXG) Are In the Green
The controversy brought by FTX nuked the entire crypto market but there are few tokens that are still performing great despite the circumstances. On my previous post, I discussed that Polygon's MATIC and OKX's OKB were staying resilient to the market's drop. But now, the Trust Wallet token, TWT and PAX Gold (PAXG) showed that not only they are not affected by the current market conditions but they are also registering huge price increase.
What is Swing Trading??
Swing trading is a type of crypto trading that involves taking a short term position in the crypto market in order to gain profits from the price change or "swing" of a coin. It is some times referred to as speculative trading as the crypto market is so volatile, it involves taking a greater risk than long term trading.
Swing trading involves taking a position usually for one or two days and capitalizing on the fluctuations that occurs during this small period. Even though the returns on this type of trading is small, substantial profits can be gain by using it over and over again.
My favorite Play-2-Earn games:
#8. The Sandbox
#7. Splinterlands
#6. Gods Unchained
#5. Crabada
#4. Gold Fever
#3. Pegaxy
#2. Axie Infinity
#1. Illuvium
What Do You Think??
Interest Rates Vs. Inflation
These days we see news headline telling us central banks has increased interest rates to control current inflation. So how does this process help reduce inflation?
Interest Rates
In the simplest of terms, interest rates are the price you pay for borrowing money. We usually borrow money in the form of credit cards, mortgages, business loans or student loans. After some time, we must pay back what we borrowed plus a percentage of the original loan, this added percentage is what we refer to as Interest Rate.
Interest rates can be of two type, Fixed or Variable. As the names imply, fixed rates never change and variable change depending on external factors such as time and the macro-economy.
Generally, when interest rates are high, it would be more expensive to borrow money and when interest rates are low, it would be less expensive to borrow money.
Inflation
Inflation is the decrease in the purchasing power of money. We can simply see it as the general increase in the prices of goods and services in our lives or rise of cost of living.
Interest Rates Vs. Inflation
Inflation occurs when there is too much money in circulation but there are only fewer goods or services to purchase. When people have a lot of cash and doesn't have much to spend it on, they bid up the prices of goods and services, resulting in rise of living cost.
This is where central banks come in and increase interest rates. When interest rates are high, people will rethink borrowing money or using credit cards ultimately biding down prices of goods and services.
High interest rates slow down people's spending and increase the purchasing power of money which reduces inflation.
Final Thoughts
High interest rates do provide a solution for inflation but they also have their downside. High interest rates can cause economic growth to slowdown, as a result people might lose their jobs. Economic slowdown can also lead to recession. Furthermore, Crypto price and stock price will fall. Therefore, increasing interest rate have to be balanced between reducing inflation and its long term economic impacts.
Polygon (MATIC) and OKB are Still Holding Strong despite the current crypto market.
The current Crypto market is in turmoil because FTX is on brink of bankruptcy and Binance will not follow through with the acquisition. FTX's native token, FTT showed a substantial drop within few days. FTT was being traded at around $25 last week and now it is worth a shocking $2.80. Other tokens like Solana, Bitcoin and Ethereum have also shown a sharp nosedive. But some tokens such as Polygon's MATIC and OKX's OKB has shown a brave resilience.
If you're interested in the full article, here is the link: https://read.cash/@TikurCrypto/polygon-matic-and-okb-are-still-holding-strong-5edfe5e7
Polygon (MATIC) and OKB are Still Holding Strong
The current Crypto market is in turmoil because FTX is on brink of bankruptcy and Binance will not follow through with the acquisition. FTX's native token, FTT showed a substantial drop within few days. FTT was being traded at around $25 last week and now it is worth a shocking $2.80. Other tokens like Solana, Bitcoin and Ethereum have also shown a sharp nosedive. But some tokens such as Polygon's MATIC and OKX's OKB has shown a brave resilience.
**Polygon (MATIC)**
In the last couple of days the crypto market has been very volatile that forced a lot of coins lose their previous weeks' gains. But Polygon's MATIC has shown a great resilience in the fight for survival.
Two days ago MATIC was fighting to overcome its $1.30 resistance. After the FTX saga hit, its price plunged to around $0.77 but quickly fought back to raise its price to $0.93 *(This is the price while I was writing this post, it might be different by the time you read it)*. Lately, Polygon was performing really well both in price and acquiring new users but the current situation may become an uncomfortable speed bump.
**OKX (OKB)**
Among those who are affect by the liquidity issues of FTX is OKX's native taken, OKB. If we evaluate the last 7 days price of OKB, we can see that it stared with $23 and then fell to $17.7. But it quickly gained some of its loss and has a current price of $19.20.
Final Thoughts
Currently, Bitcoin is traded at $17,400, Ethereum at $1,200 and Solana at $16.91 which is a big loss for the crypto market in general. But MATIC and OKB has shown that they have a great fighting spirit. So the big question is that **"Can they continue to be resilient?"**. I think they can but I'm also hoping the rest of the market will follow their lead and fight back all the way to the Bull market.
***So what are your thoughts?...... Let me know in the comment section.***
**If you enjoyed reading my posts, please follow me for more updates and do share your comments, I would really love to hear from you.**
**Disclaimer**
I am not a financial advisor. The information found here are for educational purposes and cite my personal opinion.
Source:
**https://coinmarketcap.com/currencies/ftx-token/**
https://coinmarketcap.com/currencies/polygon/
**https://coinmarketcap.com/currencies/okb/**
**https://www.pexels.com/photo/man-and-woman-in-their-game-character-costumes-7780086/**
https://noiseapp.b-cdn.net/Tikur/51209582cbf5b866cfccdbcd271e60bb.jpg
Watch-out for These NFT Scams
There are always people out there that are trying to capitalize on someone else's misfortune so it is ideal to familiarize yourself in the ways you might get exploited. With NFT projects on the rise, it is best to know some of the techniques these scammers are using and be one step ahead of them.
The most obvious scams are Phishing scams and Rug-Pull scams but I think you already know about them and are doing your very best not to fall for them. But I think it is worth discussing the lesser known ones such as:
Fake NFT Stores:
Scammers love to creating online stores that look legit but have a malicious purpose. These fraudsters usually use similar or misspelled name of a well known NFT store and trick people as if it was the real thing (for example, they will create a website called "OpenSee" which can be mistaken for the official OpenSea marketplace). They then can easily trick you in to buying worthless NFTs, steel your credit card information and many more. So you should always be extra careful in writing URL addresses and following external links to online stores.
Giveaway scams:
These are like phishing scams but slightly different. Scammer will prepare a fake NFT giveaways or use a legit project's name as a cover and will approach unsuspecting "winners" in an effort to make them go to fraudulent website, connect their wallets and provide their private keys. So don't trust these messages you get, specially on social medias telling you you're a winner of some NFT giveaways. Furthermore, it is always best to check if the links that are provided to you match with the official NFT project pages.
Bidding Scams:
Lets say you own an NFT and you want to sell it for profits. Usually, you will use an auctioning method to sell for the highest possible price. This is where the scammer take advantage, they will make the highest bid first using a certain crypto and change that crypto to a less worthy one later without you noticing. Imagine a person made an initial bid of 2 BTC and later changed that bid to 2 BNB, you'll end up losing around $40,000 if calculated with the current pricing. So never forget to double check the crypto used as a payment.
Malware Attacks:
NFT marketplaces may be susceptible to malware attacks and users can be exposed to them resulting in loss of sensitive information regarding their wallets and identities. Therefore, it is always recommended to use the latest version of antimalware software and regularly changing your passwords on every platform you use.
Stolen NFTs:
Stolen NFTs are resold to unsuspecting buys which may lead to a complicated situation. Scammer want to get rid of their stolen NFTs quick and cheap so you might think you found a good bargain and acquire it just to end up returning it to the original owner (hoping there wont be any further legal inquiries). The good news is that OpenSea announced today that it will be implementing a software that can Auto-Detect stolen NFTs and I hope more marketplaces will start taking this kind of efforts.
Fake NFTs:
I think we all have encountered fake/copied products in our lives, from fake bags to fake clothes, we have see scammer trying to profit from a well known brands. The NFT market is no different, scammers will copy a well known creator's NFT and try to pass it as an original. Therefore, it is always wise to do your own due diligence before buying any NFT.
Final Thoughts
Scammers are continuously evolving and finding new ways to exploit people so we should always be on the lookout. We should also take extra measures that can minimize these risks such as:
checking for the NFT projects' independent audits
getting information from trusted sources
investigating the authenticity of social media accounts
taking extra steps in securing our wallets
regularly updating our cyber-security software
and most importantly, sharing new methods that scammers might use on our fellow Blockchain enthusiasts.
If I missed any scamming method that should have been on the list, please share it on the comment section!
y00ts: Solana's Most Anticipated NFT project
There was a huge hype concerning Solana's NFT project, y00ts back in September. And after a delay, it finally completed its rollout which led to a substantial increase in NFT sales on the Solana's marketplace. So why the current hype?
**What is the y00ts Project?**
**y00ts**, originally named **'Duppies'** is an NFT collection on the Solana blockchain that was created by **Dust Labs**. Dust Labs are also known for their other successful NFT project on Solana called **DeGods.**
The y00ts collection contains 15,000 NFTs and they are all based on a sheep with different features and characteristics added to it. The initial costs of these NFTs was around 375 DUST *(DUST is the native token of DeGods ecosystem)* each which was equivalent to around $800-$1000 back in September.
The project managed to raise $7 million from venture capital firms such as FTX Venture and Solana Venture which helped it become one of the biggest NFT Profile Picture Project (PFP) on the Solana blockchain.
The project was very successful in catching the eyes of a lot of people including celebrities like football's superstar **Wayne Rooney**. But there were some hiccups that led to a delay of the full rollout till now. The project was going to be fully operational after the September's mint but the creators decided to scrap all for the existing NFTs and create a new collection. As a result, there was a delay till November.
After the announcement, trades on the Solana marketplace showed increase and registered over $2 million total transaction. This a great news for Solana as it was facing a serious competition from Aptos.
**Wrapping Up**
The complete rollout of the y00ts project is great news for the project, the Solana blockchain and the overall NFT ecosystem. The secondary market will be seeing a large number of transactions on these NFTs and hopefully it will do its part in resurrecting the current bear market of NFTs. But it is also worth mentioning the price of DUST *(the native token of DeGods ecosystem)* has shown substantial fall after September. Only time can tell the effect it will have on the overall y00ts and DeGods ecosystem.
****Source:** **https://coinmarketcap.com/currencies/dust-protocol/**
**Disclaimer**
I am not a financial advisor. The information found here are for educational purposes and cite my personal opinion.
Watch-Out for These NFT Scams
There are always people out there that are trying to capitalize on someone else's misfortune so it is ideal to familiarize yourself in the ways you might get exploited. With NFT projects on the rise, it is best to know some of the techniques these scammers are using and be one step ahead of them.
The most obvious scams are **Phishing scams** and **Rug-Pull scams** but I think you already know about them and are doing your very best not to fall for them. But I think it is worth discussing the lesser known ones such as:
**Fake NFT Stores:**
Scammers love to creating online stores that look legit but have a malicious purpose. These fraudsters usually use similar or misspelled name of a well known NFT store and trick people as if it was the real thing (for **example**, they will create a website called **"OpenSee"** which can be mistaken for the official **OpenSea** marketplace). They then can easily trick you in to buying worthless NFTs, steel your credit card information and many more. So you should always be extra careful in writing URL addresses and following external links to online stores.
**Giveaway scams:**
These are like phishing scams but slightly different. Scammer will prepare a fake NFT giveaways or use a legit project's name as a cover and will approach unsuspecting "winners" in an effort to make them go to fraudulent website, connect their wallets and provide their private keys. So don't trust these messages you get, specially on social medias telling you you're a winner of some NFT giveaways. Furthermore, it is always best to check if the links that are provided to you match with the official NFT project pages.
**Bidding Scams:**
Lets say you own an NFT and you want to sell it for profits. Usually, you will use an auctioning method to sell for the highest possible price. This is where the scammer take advantage, they will make the highest bid first using a certain crypto and change that crypto to a less worthy one later without you noticing. Imagine a person made an initial bid of 2 BTC and later changed that bid to 2 BNB, you'll end up losing around $40,000 if calculated with the current pricing. So never forget to double check the crypto used as a payment.
**Malware Attacks:**
NFT marketplaces may be susceptible to malware attacks and users can be exposed to them resulting in loss of sensitive information regarding their wallets and identities. Therefore, it is always recommended to use the latest version of antimalware software and regularly changing your passwords on every platform you use.
**Stolen NFTs:**
Stolen NFTs are resold to unsuspecting buys which may lead to a complicated situation. Scammer want to get rid of their stolen NFTs quick and cheap so you might think you found a good bargain and acquire it just to end up returning it to the original owner (hoping there wont be any further legal inquiries). The good news is that **OpenSea** announced today that it will be implementing a software that can Auto-Detect stolen NFTs and I hope more marketplaces will start taking this kind of efforts.
**Fake NFTs:**
I think we all have encountered fake/copied products in our lives, from fake bags to fake clothes, we have see scammer trying to profit from a well known brands. The NFT market is no different, scammers will copy a well known creator's NFT and try to pass it as an original. Therefore, it is always wise to do your own due diligence before buying any NFT.
**Final Thoughts**
Scammers are continuously evolving and finding new ways to exploit people so we should always be on the lookout. We should also take extra measures that can minimize these risks such as:
checking for the NFT projects' independent audits
getting information from trusted sources
investigating the authenticity of social media accounts
taking extra steps in securing our wallets
regularly updating our cyber-security software
**and most importantly, sharing new methods that scammers might use on our fellow Blockchain enthusiasts.**
***If I missed any scamming method that should have been on the list, please share it on the comment section!***
**Disclaimer**
I am not a financial advisor. The information found here are for educational purposes and cite my personal opinion.
Telegram's Username Auction Has Started!
On 27th of October, **Telegram** has officially started auctioning username and channel handles on the TON Blockchain. It was few months ago that the well known global messaging service provider, Telegram, first announced it was considering auctioning username and channel handles.
The co-founder of Telegram, **Pavel Durov** stated in August
**This would create a new platform where username holders could transfer them to interested parties in protected deals – with ownership secured on the blockchain via NFT-like smart contracts.**
People can now buy and sell usernames on the website, https://fragment.com/. The auction is first rolled out for four to five character usernames and soon longer character names will be included.
Currently, user names **'bank'**, **'casino'** and **'auto'** are leading the auction with 73,500 TON (around $116,000), 52,500 TON (around $83,000) and 31,500 TON (around $50,000) respectively.
The Open Network (TON) has successfully implemented an auction for its wallet and domain usernames before and managed to register a total sales of 2,392,000 TON ($3,779,360). It is believed that this figure will be surpassed by Telegram.
**Pavel Durov** further stated regarding this
**If TON has been able to achieve these results, imagine how successful Telegram with its 700 million users could be if we put reserved @ usernames, group and channel links for auction.**
The big reason why Telegram chose TON to launch its auction is because it was the original designer of the blockchain. Additionally, Telegram trusts TON have a better qualities in regard to speed and scalability which will align in telegram's action plan.
**Final Thoughts**
Social platforms are utilizing the blockchain technology to benefit both themselves and their users which is always awesome to see. The adoption of blockchain technology is moving in an increasing speed due to these social platforms and I hope more platforms and organizations are following. It will really help in answering the trust issues that are usually raised by the users while benefiting every stakeholders of the platforms.
**So if you have four to five character username on Telegram, make sure to checkout the Auction. Or if you want to buy one, this is your chance.**
**Disclaimer**
I am not a financial advisor. The information found here are for educational purposes and cite my personal opinion.
Amazing Play-to-Earn Games: Part 2
On my previous post, I discussed Axie Infinity, Crabada, Gods Unchained and Illuvium, four of the well known Play-to-Earn games. On this one, I will try to go into other fun games that you might enjoy. https://read.cash/@TikurCrypto/amazing-play-to-earn-games-part-1-17e6c723
The Sandbox
The Sandbox is a Play-2-Earn game on the Ethereum Blockchain that was reintroduced as a 3D metaverse in 2020.
The Sandbox gives its players a full control in creating their NFT avatars and games with the use of tools called VoxEdit and Game Maker which is very cool. Your NFTs can easily be traded and monetized on the Sandbox's marketplace so earning on the platform has been significantly simplified.
The Sandbox has its own native token called **SAND**. SAND can be used for any transactions that occurs in The Sandbox ecosystem and to customize your avatars. Additionally, SAND is used as a governance token.
https://www.youtube.com/watch?v=Zg5vcdEeLOA
Splinterlands
Splinterlands is a P2E trading card game on the Hive blockchain. Previously known as Steem Monsters, players are required to collect cards and fight monster to win rewards.
Players can be involved in quests and tournaments to win rewards and level up their rankings. Players' cards are NFTs that can be traded to earn profits which for this reason made this game very popular.
Splinterlands also have its own native token called **SplinterShards (SPS).** SPS is used as a governance token in the game.
https://www.youtube.com/watch?v=PXj7594jgaM
Pegaxy
Another awesome P2E game is Pegaxy. Pegaxy, to mean Pegasus Galaxy, is a horse racing game on the Polygon blockchain.
Players can enjoy races with each other to win rewards on this game. To earn on Pegaxy, players have to buy NFT horses called **Pegas** and race them, breed them or rent them to other player on the platform.
Pegaxy has two native token called **Vigorus (VIS)** and **Pegaxy Stone (PGX)**. VIS is used as a reward token where PGX is used as governance token and for staking.
https://www.youtube.com/watch?v=B9-BxA5YouE
Gold Fever
Gold Fever is a P2E game that players can earn and trade their NFTs. Gold Fever is a RPG game with amazing 3D graphics where players can explore, mine gold and battle each other. Player can also rent out their NFTs to other players and earn rewards.
Gold Fever has its own native token called **Native Gold Token (NGL).** NGL can be used as an in-game currency.
The Best Part of Gold Fever is that it is totally **Free** to start playing the game.
https://www.youtube.com/watch?v=CQFA70r9cqA
Final Thoughts
Play-to-Earn games are improving their qualities and are trying to involve everyone to earn from them which is amazing. As the adoption of blockchain technology increases, I think P2E games will be vastly accepted and played, benefiting both the creators and the players.
If you missed Part 1 of Amazing Play-to-Earn Games here is the link: https://read.cash/@TikurCrypto/amazing-play-to-earn-games-part-1-17e6c723
Crypto News & Updates 24/10/2022
Interpol is launching its own Metaverse for law enforcement officers around the world.
Polkadot founder and CEO, Gavin Wood stepped down form his position.
Bitcoin is holding at $19,300
Ethereum is holding at $1,340
BNB is holding at $270
Source: https://coinmarketcap.com, https://www.newsbtc.com/
Amazing Play-to-Earn Games: Part 1
Play-to-Earn (Play2Earn) are games that are on a blockchain where payers can get rewarded with in-game assets which later can be traded for a real world value.
Play-to-Earn games have become a fun and rewarding way to pass the time so why not checkout few of the best ones.
Axie Infinity
Axie Infinity is one of the pioneers of Paly-to-Earn games and the most popular one. Created by Sky Mavis, Axie Infinity has managed to get over 2 million player and its users are still growing.
Axie Infinity is a role playing game usually referred to as **RPG** which revolves around characters called Axies.
**Axies** are creatures in the game where player can buy, collect and upgrade in order to battle with other player's Axies.
Every player's Axies are a Non-Fungible Tokens (NFTs) on the Ethereum blockchain and have different feature that can be upgraded or combined with other Axies to breed new and better Axies.
The Axie Infinity game has its own two native tokens called **Axie Infinity Shards (AXS)** and **Smooth Love Potions (SLP)**. AXS is used as a governance token while SLP is used to breed new Axies.
Even though this game is very successful, it was subjected to a devastating hack recently where players lost over $600 million. But the platform is now operating as usual these days.
https://www.youtube.com/watch?v=oMa8cc6YxSI
Crabada
Crabada is another fun Play-to-Earn game created in 2021 on the the Avalanche blockchain. The game play occurs in an underwater world where player can collect and battle ferocious hermit crabs.
Each players can use 3 of their hermit crabs called **Crabadas** to mine, loot and battle with other players hermit crabs which can be very enjoyable and addictive. Different Crabadas have different features and skills which will be appropriate for different quests.
The games has two native tokens called **Crabada (CRA)** and **Treasure Under Sea (TUS).** CRA is a governance token while TUS is the currency used in the games.
https://www.youtube.com/watch?v=H8lxwd7Pl5s
Gods Unchained
Another amazing game is Gods Unchained which has huge user base on the Ethereum platform. Created by Chris Clay in 2018, Gods Unchained is NFT Card trading game that is played against other players or computer AI.
Player can collect trading card and improve their deck strength by including rare cards in their selections. Cards value increase depending on their rarity.
The cards on this games can easily be sold, bought or traded on the game's marketplace which is very ideal for players.
Gods Unchained has a native token called $GODS. It can be earned by winning games against other players and can be used to buy different items in the games.
It is one of my favorite Play-2-Earn games because it is completely **Free** to start playing it.
https://www.youtube.com/watch?v=mLvFIUKYbUc
Illuvium
Illuvium is a unique and very entertaining P2E game on the Ethereum bockchain. It is an open world RPG game that is set in an alien world.
Player can explore the open environment in search for creatures called Illuvium. Player can then upgrade and/or combine these creature to get a more advanced and stronger Illuvium. Player can also join battles with other player in order to get rewards and level up.
The NFT items collected by the players can be traded with zero gas fees so it is very ideal for users of the platform.
Just like the previous games, Illuvium also has two native tokens, Illuvium (ILV) and Synthetic Illuvium (sILV).
https://www.youtube.com/watch?v=mzT88eN4gts
Final thoughts
These are only the few Play-to-Earn games that I can mention on this post but rest assured there are plenty more out there. P2E games can be very fun to play while acquiring NFTs with a real world value so if you have the time and love playing games, I strongly recommend them.
Disclaimer
I am not a financial advisor, information found here are for educational purposes only.
Interest Rates Vs. Inflation
These days we see news headline telling us central banks has increased interest rates to control current inflation. So how does this process help reduce inflation?
Interest Rates
In the simplest of terms, interest rates are the price you pay for borrowing money. We usually borrow money in the form of credit cards, mortgages, business loans or student loans. After some time, we must pay back what we borrowed plus a percentage of the original loan, this added percentage is what we refer to as **Interest Rate**.
Interest rates can be of two type, ***Fixed*** or ***Variable***. As the names imply, fixed rates never change and variable change depending on external factors such as time and the macro-economy.
Generally, when interest rates are high, it would be more expensive to borrow money and when interest rates are low, it would be less expensive to borrow money.
Inflation
Inflation is the decrease in the purchasing power of money. We can simply see it as the general increase in the prices of goods and services in our lives or rise of cost of living.
Interest Rates Vs. Inflation
Inflation occurs when there is too much money in circulation but there are only fewer goods or services to purchase. When people have a lot of cash and doesn't have much to spend it on, they bid up the prices of goods and services, resulting in rise of living cost.
This is where central banks come in and increase interest rates. When interest rates are high, people will rethink borrowing money or using credit cards ultimately biding down prices of goods and services.
High interest rates slow down people's spending and increase the purchasing power of money which reduces inflation.
Final Thoughts
High interest rates do provide a solution for inflation but they also have their downside. High interest rates can cause economic growth to slowdown, as a result people might lose their jobs. Economic slowdown can also lead to recession. Furthermore, Crypto price and stock price will fall. Therefore, increasing interest rate have to be balanced between reducing inflation and its long term economic impacts.
**Disclaimer**
I am not a financial advisor. The information found here are for educational purposes and cite my personal opinion.
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Crypto Options For Beginners
It is common to see sock traders implement Options trading but lately options trading has became a great way to make profits in crypto. So what is Crypto Options?
Crypto Options
To put it simply, crypto options is a financial instrument that allows traders to bet on the price of a crypto on a specific future date. Options gives traders the right to buy/sell a crypto at a predetermined price on or before the options’ expiration date.
There are two terms that are frequently used in dealing with options trading, ***Strike*** ***Price*** and ***Option Premium***. ***Strike Price*** is the predetermined price of the crypto while ***Option Premium*** is the price traders pay for the option.
The volatility of cryptocurrencies gives traders a chance to speculate the strike price of a coin at a certain time in the future and pay the option premium to obtain the option.
Types of Options Trading
**Call Option**
Call option is a type of options trading that allows traders to **buy** a crypto asset at the strike price on or before the expiration date.
Traders can use this method when they speculate that the market price will be higher than the strike price on or before the expiration date of the option. When the market price is higher than the strike price, the value of the call option will increase. This will ultimately leads to generating profits.
**Put Option**
Put option is a type of options trading that allows traders to **sell** a crypto asset at the strike price on or before the expiration date.
Traders can use this method when they speculate that the market price will be lower than the strike price on or before the expiration date of the option. As the market price goes lower than the strike price, the value of the put option becomes higher which will lead to making profits.
Exchanges that Offer Crypto Options
Here are some of the exchanges that offer crypto option trading:
Binance
FTX
OKX
Deribit
Bit.com
Final Thoughts
Crypto options are a great instruments to use in order to minimize your loss when trading. If your speculation is wrong, the only investment you loss is the option premium. Costs of Option premium are a lot lower than the actual price of the crypto assets, therefore, your loss is limited to them.
But you shouldn't forget that Crypto trading is subjected to high market risk so speculation on prices might be considered to be high-risk, high-reward.
**Disclaimer**
I am not a financial advisor. The information found here are for educational purposes and cite my personal opinion.
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Swing Trading for Beginners
Swing Trading
Swing trading is a type of crypto trading that involves taking a short term position in the crypto market in order to gain profits from the price change or "swing" of a coin. It is some times referred to as speculative trading as the crypto market is so volatile, it involves taking a greater risk than long term trading.
Swing trading involves taking a position usually for one or two days and capitalizing on the fluctuations that occurs during this small period. Even though the returns on this type of trading is small, substantial profits can be gain by using it over and over again.
Advantages of Swing Trading
Although Swing trading have risks, it has its merits:
***Profits:*** Profits can be made within days or even hours by using swing trading.
***Trends:*** If you have experience and skill in identifying crypto trends, it is easy to make profits using this method.
***Time:*** As compared to day trading, it takes less time to trade.
Disadvantages of Swing Trading
Because of its speculative nature, swing trading comes with great disadvantages to consider:
***Market Reversal:*** The volatility of the crypto trade may lead to abrupt market reversal which can cause major loss.
***Time:*** Unlike long term trading, you have to dedicate large amount of time for swing trading.
***Illegal pump and dump schemes:*** You might fall victim to Illegal pump and sump schemes when trading.
***Trading Fees:*** Trading fees adds up when using this method and might affect your profits.
***Hacking:*** Since you have to access your wallet a number of time when involved in swing trading, you might be susceptible to hackers.
***Stress:*** Swing trading might be very stressful.
Conclusion
Even though the fact that quick profits can be made using swing trading is very appealing, taking caution when using this method is necessary. Beginner trader should first start acquiring knowledge and experience before diving into swing trading. Plus, assessing your risk tolerance is mandatory before starting this stressful type of trading.
If you have the knowledge, experience and risk tolerance to try swing trading, these are few tips to consider:
Start small
Give yourself the appropriate time required for the trading
Don't take big risks
Take additional measures to secure your wallets and login information
Do Your Own Research
**Disclaimer**
I am not a financial advisor. The information found here are for educational purposes and cite my personal opinion and it should be considered as such.
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@TikurCrypto
