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Cryptocurrencies, also known as virtual currencies, have gone mainstream. That’s for sure. For example, you can use bitcoin BTCUSD, -0.03% to buy a Tesla TSLA, +3.93% and to buy or pay for lots of other things. However, using cryptocurrencies has federal income tax implications. Here’s what you need to know at 2021 tax return time if you made crypto transactions last year.  Understand this: the IRS wants to know about your crypto transactions

The 2021 version of IRS Form 1040 asks if at any time during the year you received, sold, exchanged, or otherwise disposed of any financial interest in any virtual currency. If you did, you are supposed to check the “Yes” box. The fact that this question appears on page 1 of Form 1040, right below the lines for supplying basic information like your name and address, indicates that the IRS is serious about enforcing compliance with the applicable tax rules. Fair warning.

When to check the ‘Yes’ box on crypto transactions

The 2021 Form 1040 instructions clarify that virtual currency transactions for which you should check the “Yes” box include but are not limited to: (1) the receipt of virtual currency as payment for goods or services that you provided; (2) the receipt or transfer of virtual currency for free that does not qualify as a bona fide gift under the federal tax rules; (3) the receipt of new virtual currency as a result of mining and staking activities; (4) the receipt of virtual currency as a result of a hard fork; (5) an exchange of virtual currency for property, goods, or services; (6) an exchange/trade of virtual currency for another virtual currency; (7) a sale of virtual currency; and (8) any other disposition of a financial interest in virtual currency.

If in 2021 you disposed of any virtual currency that was held as a capital asset through a sale, exchange, or transfer, check the “Yes” box and use familiar IRS Form 8949 and Schedule D of Form 1040 to figure your capital gain or loss. See Examples 1 and 4 below.

If in 2021 you received any virtual currency as compensation for services, check the “Yes” box and report the income the same way as you would report other income of the same nature. See Example 3 below.

on crypto transactions

You cannot leave the virtual currency transaction question unanswered. You must check either the “Yes” box or the “No” box. 

A transaction involving virtual currency does not include holding virtual currency in a wallet or account, or the transfer of virtual currency from one wallet or account that you own or control to another that you own or control. If that’s all that happened last year, check the “No” box.

Also check the “No” box if your only virtual currency transactions in 2021 were purchases of virtual currency for real currency, including the use of real currency electronic platforms such as PayPal PYPL, -2.26%.

Key point: For more information on the federal tax treatment of virtual currency transactions, see these FAQs on the IRS website.  

Now for the meat of this column. Despite what the IRS says, let’s use the term cryptocurrency instead of virtual currency. Onward. 

The IRS takes the position that cryptocurrency is “property” for federal income tax purposes. (Source: IRS Notice 2014-21.) That means you’re supposed to recognize and report taxable gain or loss whenever you exchange cryptocurrency for U.S. dollars, Euros, goods or services, real estate, a new Tesla, a different cryptocurrency, or whatever.  

If you fail to report cryptocurrency transactions on your Form 1040 and get audited, you could face interest and penalties and even criminal prosecution in extreme cases. 

To arrive at the federal income tax results of a cryptocurrency transaction, the first step is to calculate the fair market value (FMV), measured in U.S. dollars, of the cryptocurrency on the date you received it or paid it. 

The current values of the most-popular cryptocurrencies are listed on exchanges, and I hope you kept track of what you did last year. For example, Bitcoin and a bevy of other cryptocurrencies are listed on the Coinbase COIN, -1.07% exchange. If you sold one bitcoin on 9/5/21, you should have received about $51,750, according to the Coinbase exchange. You might have actually received a little more or a little less. If you bought one bitcoin with U.S. dollars on 9/5/21, you should have paid about $51,750. You might have actually paid a little more or a little less. Your basis in the bitcoin for federal income tax purposes would be whatever you paid. 

* You’ll have a tax gain if the FMV of what you receive in exchange for a cryptocurrency holding exceeds your tax basis in the cryptocurrency that you exchanged. 

* You’ll have a tax loss if the FMV of what you receive is less than your basis.   

Key point: Unless you’re in the business of trading cryptocurrencies, it’s hard to imagine that a cryptocurrency holding will be classified for federal income tax purposes as anything other than a capital asset — even if you used it to conduct business or personal transactions as opposed to holding it strictly for investment. Therefore, the taxable gain or loss from exchanging a cryptocurrency will almost always be a short-term capital gain or loss or a long-term gain or loss, depending on whether you held the cryptocurrency for at least a year and a day (long-term) or not (short-term) before using it in a transaction.

If you accept cryptocurrency as payment for something, you must determine the FMV of the cryptocurrency on the transaction date and then convert the deal into U.S. dollars. Then calculate your federal income tax results.

Example 1: Last year, you exchanged two bitcoins for a different cryptocurrency. On the date of the exchange, the FMV in U.S. dollars, of the new cryptocurrency that you received was $125,000. Your tax basis in the two bitcoins that you gave up was $95,000. You acquired the two bitcoins earlier in 2021. Your taxable gain on the exchange was $30,000 ($125,000 – $95,000). Report the $30,000 as a short-term capital gain on your 2021 Form 1040, using Form 8949 and Schedule D, because you owned the two bitcoins for less than a year and a day.     

Example 2: Last year, you sold a vintage auto that you had restored to perfection for two bitcoins. On the date of sale, bitcoins were valued at $55,000 each, according to the Coinbase exchange. Your tax basis in the auto was $65,000. To report this transaction on your 2021 Form 1040, convert the two bitcoins that you received into U.S. dollars ($55,000 x 2) = $110,000. Your taxable gain on the sale is $45,000 ($110,000 – $65,000). Report the $45,000 as income or gain on your Form 1040. Assuming you’re not in the business of restoring vintage autos, you have a short-term or long-term capital gain, depending on how long you owned the auto. Report the gain on Form 8949 and Schedule D. 

Tax treatment of crypto used in business transactions

If you receive cryptocurrency as payment in your business, the first step is to convert the payment into U.S dollars. Then follow the normal rules to determine the federal income tax results. 

Example 3: You’re a self-employed professional. You operate your business as a single-member LLC that’s treated as a sole proprietorship for tax purposes. Last year, you accepted one bitcoin as payment from a major client. On the date of receipt, bitcoins were valued at $55,000 each, according to the Coinbase exchange. On your 2021 Schedule C, you should recognize $55,000 of taxable income for services rendered. Because you’re self-employed, the $55,000 is also subject to the dreaded self-employment tax.

If you use cryptocurrency to pay for a business expenditure, the first step is to convert the expenditure into U.S dollars. Then follow the normal rules to determine the federal income tax results. 

Example 4: Last year, you used 1 bitcoin to buy tax-deductible supplies for your booming sole proprietorship business. On the date of the purchase, bitcoins were valued at $55,000 each. So, you have a 2021 business deduction of $55,000. Include the $55,000 as an expense on your 2021 Schedule C. 

But there’s another piece to this transaction: the tax gain or loss from holding the bitcoin and then spending it. Say you bought the bitcoin in January of 2021 for only $31,000. So, you had a $24,000 taxable gain from appreciation in the value of the Bitcoin ($55,000 – $31,000). That $24,000 gain is a short-term capital gain —because you did not hold the bitcoin for more than one year. Report the gain on Form 8949 and Schedule D.

If you use cryptocurrency to pay employee wages, the FMV of the currency counts as wages subject to federal income tax withholding, FICA tax and FUTA tax. Like any other wages paid to employees, you must report the wages to the employee and to the IRS on Form W-2. 

If you use cryptocurrency to pay an independent contractor for performing services for your business, the FMV of the currency is subject to self-employment tax for the contractor. You’re required to report the payment on Form 1099-NEC if payments to that contractor during the year amount to $600 or more.

As illustrated in Example 4, you may also have a tax gain or loss due to appreciation or decline in the value of the cryptocurrency during the time you held it before paying it out as to cover employee wages or services from an independent contractor. Because you’re not in the business of buying and selling cryptocurrencies, the gain and loss will be a short-term or long-term capital gain or capital loss, depending on how long you held the cryptocurrency. Report the gain or loss on Form 8949 and Schedule D.

Will your 2021 crypto transactions be reported on 1099s?

Maybe. 

How is crypto reported on Form 1099-MISC?

Some cryptocurrency exchanges report gross income from crypto rewards or staking as “other income” on Form 1099-MISC. The 1099-MISC won’t report individual transactions from staking or rewards, just your total income from them. You should to report each transaction, as well as any other crypto transactions, on your Form 1040. 

Key point: The IRS gets a copy of any 1099-MISC sent to you. So don’t assume you can just fly under the radar without detection. 

How is crypto reported on Form 1099-K?

Form 1099-K reports the total value of cryptocurrencies that you bought, sold, or traded on the platform that handled the transactions. Form 1099-K is also known as a Payment Card or Third Party Network Transactions form. It’s commonly used by credit card companies and payment processors like PayPal to report payment transactions that were processed for third parties. 

Form 1099-K is also used by some crypto exchanges to report receipts from crypto transactions — as in Examples 1, 2, and 3 above. However, Form 1099-K is typically sent only to U.S. taxpayers who made 200 or more transactions with a total volume of $20,000 or more. The amount reported on Form 1099-K does not equate to your tax gain or loss from crypto trading conducted on the reporting exchange. If you traded often, you could have a large trading volume reported on Form 1099-K, but only a relatively small net tax gain or loss. 

Key point: The IRS gets a copy of any 1099-K sent to you, and the agency will therefore expect to see some crypto action on your Form 1040. 

How is crypto reported on Form 1099-B?

Form 1099-B is mainly used by brokerage firms and barter exchanges to report capital gains and losses. Unlike Form 1099-MISC and Form 1099-K, Form 1099-B reports gains and losses from individual transactions. While each gain or loss is calculated separately, the brokerage firm will typically report consolidated numbers — for example your net short-term gain or loss amount. A few crypto exchanges issue Form 1099-B.

Key point: The IRS gets a copy of any 1099-B sent to you.

When you won’t get a 1099

If you simply made a payment last year using a cryptocurrency, as in Example 4 above, you won’t receive a Form 1099 for 2021. Form 1099, in any of its various flavors, is only issued if you receive a payment.     

The bottom line

You may be unaware of the federal income tax implications of cryptocurrency transactions. But the IRS doesn’t usually accept ignorance as an excuse for failure to comply with tax rules. 

Detailed records are essential for compliance. Your records should include: (1) when the cryptocurrency was received, (2) the currency’s FMV on the date you received it, (3) the currency’s FMV on the date you exchanged it (for U.S. dollars, a different cryptocurrency, or whatever), (4) the cryptocurrency trading exchange that you used to determine FMV, (5) and your purpose for holding the currency (business, investment or personal use). 

With this information, you and/or your tax pro can determine the federal income tax consequences of your 2021 crypto transactions. Depending on where you live, there may be state income tax consequences too. Good luck with all this.

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Bitcoin price near a record $70,000, ‘memecoins' worth billions of dollars, a blockbuster Wall Street listing and a sweeping Chinese crackdown: 2021 was the wildest yet for cryptocurrencies, even by the sector's volatile standards. Digital assets started the year with a stampede of cash from investors large and small. And bitcoin and its kin were rarely out of the spotlight since, with the language of crypto becoming firmly entrenched in the investor lexicon.

Here is a look at some of the major trends that dominated cryptocurrencies this year.

/Bitcoin: Still no.1

The original cryptocurrency held its crown as the biggest and most well-known token - though not without a host of challengers biting at its heels.

Bitcoin soared over 120% from Jan 1. to a then-record of almost $65,000 in mid-April. Fuelling it was a tsunami of cash from institutional investors, growing acceptance by major corporations such as Tesla Inc and Mastercard Inc and an increasing embrace by Wall Street banks.

Spurring investor interest was Bitcoin's purported inflation-proof qualities - it has a capped supply - as record-breaking stimulus packages fuelled rising prices. The promise of quick gains amid record-low interest rates, and easier access through fast-developing infrastructure, also helped attract buyers.

Emblematic of bitcoin's mainstream embrace was major U.S. exchange Coinbase's $86 billion listing in April, the biggest yet of a cryptocurrency company.

"It's graduated into the sphere where it is traded by the sort of people that are taking bets on treasuries and equities," said Richard Galvin of crypto fund Digital Capital Asset Management.

Yet the token stayed volatile. It slumped 35% in May before soaring to a new all-time high of $69,000 in November, as inflation spiralled across Europe and the United States.

Prominent sceptics remain, with JPMorgan boss Jamie Dimon calling it "worthless". 

2/The rise of the memecoins

Even as bitcoin remained the go-to for investors dipping their toes into crypto, a panoply of new - some would say joke - tokens entered the sector.

"Memecoins" - a loose collection of coins ranging from Dogecoin and Shiba Inu to squid game that have their roots in web culture - often have little practical use.

Dogecoin, launched in 2013 as a bitcoin spinoff, soared over 12,000% to an all-time high in May before slumping almost 80% by mid-December. Shiba inu, which references the same breed of Japanese canine as Dogecoin, briefly muscled its way into the 10 largest digital currencies. 

The memecoin phenomenon was linked to the "Wall Street Bets" movement, where retail traders coordinated online to pile into stocks such as GameStop Corp, squeezing hedge funds' short positions.

Many of the traders - often stuck at home with spare cash during coronavirus lockdowns - turned to crypto, even as regulators voiced warnings about volatility.

"It's all about the mobilisation of finance," said Joseph Edwards, head of research at crypto broker Enigma Securities.

"While assets like DOGE and SHIB may in themselves be purely speculative, the money coming into them is coming from an instinct of 'why shouldn't I earn on my money, savings?'" 

3/Regulation: The (large) elephant in the room

As money poured into crypto, regulators fretted over what they saw as its potential to enable money laundering and threaten global financial stability.

Long sceptical of crypto - a rebel technology invented to undermine traditional finance - watchdogs called for more powers over the sector, with some warning consumers over volatility.

With new rules looming, crypto markets were skittish to the possible risk of a clampdown.

When Beijing placed curbs on crypto in May, bitcoin tanked almost 50%, dragging the wider market down with it.

"Regulatory risk is everything because those are the rules of the road that people live by and die by in financial services," said Stephen Kelso, global head of markets at ITI Capital. "The regulators are making good progress, they're catching up."

4/NFTs

As memecoin trading went viral, another formerly obscure corner of the crypto complex also grabbed the limelight.

Non-fungible tokens (NFTs) - strings of code stored on the blockchain digital ledger that represent unique ownership of artworks, videos or even tweets - exploded in 2021.

In March, a digital artwork by U.S. artist Beeple sold for nearly $70 million at Christie's, among the three most expensive pieces by a living artist sold at auction.

The sale heralded a stampede for NFTs.

Sales in the third-quarter hit $10.7 billion, up over eight-fold from the previous three months. As volumes peaked in August, prices for some NFTs rose so quickly speculators could "flip" them for profit in days, or even hours.

    Soaring crypto prices that spawned a new cohort of crypto-wealthy investors - as well as predictions for a future of online virtual worlds where NFTs take centre stage - helped fuel the boom.

    Cryptocurrencies and NFTs' popularity may also be linked to a decline in social mobility, said John Egan, CEO of BNP Paribas-owned research company L'Atelier, with younger people drawn to their potential for swift gains as soaring prices put traditional assets like houses out of reach.

    While some of the world's top brands, from Coca-Cola to Burberry, have sold NFTs, still-patchy regulation meant larger investors largely steered clear.

    "I don't see a situation where licensed financial institutions are actively and aggressively trading (these) digital assets in the next three years," Egan said. 

Follow HT Tech for the latest tech news and reviews , also keep up with us on Twitter, Facebook, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 31 Dec, 12:35 AM IST Tags: CryptocurrencyBitcoinDogecoinShiba InuNFTs

71640888697329

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Bitcoin price near a record $70,000, ‘memecoins' worth billions of dollars, a blockbuster Wall Street listing and a sweeping Chinese crackdown: 2021 was the wildest yet for cryptocurrencies, even by the sector's volatile standards. Digital assets started the year with a stampede of cash from investors large and small. And bitcoin and its kin were rarely out of the spotlight since, with the language of crypto becoming firmly entrenched in the investor lexicon.

Here is a look at some of the major trends that dominated cryptocurrencies this year.

/Bitcoin: Still no.1

The original cryptocurrency held its crown as the biggest and most well-known token - though not without a host of challengers biting at its heels.

Bitcoin soared over 120% from Jan 1. to a then-record of almost $65,000 in mid-April. Fuelling it was a tsunami of cash from institutional investors, growing acceptance by major corporations such as Tesla Inc and Mastercard Inc and an increasing embrace by Wall Street banks.

Spurring investor interest was Bitcoin's purported inflation-proof qualities - it has a capped supply - as record-breaking stimulus packages fuelled rising prices. The promise of quick gains amid record-low interest rates, and easier access through fast-developing infrastructure, also helped attract buyers.

Emblematic of bitcoin's mainstream embrace was major U.S. exchange Coinbase's $86 billion listing in April, the biggest yet of a cryptocurrency company.

"It's graduated into the sphere where it is traded by the sort of people that are taking bets on treasuries and equities," said Richard Galvin of crypto fund Digital Capital Asset Management.

Yet the token stayed volatile. It slumped 35% in May before soaring to a new all-time high of $69,000 in November, as inflation spiralled across Europe and the United States.

Prominent sceptics remain, with JPMorgan boss Jamie Dimon calling it "worthless". 

2/The rise of the memecoins

Even as bitcoin remained the go-to for investors dipping their toes into crypto, a panoply of new - some would say joke - tokens entered the sector.

"Memecoins" - a loose collection of coins ranging from Dogecoin and Shiba Inu to squid game that have their roots in web culture - often have little practical use.

Dogecoin, launched in 2013 as a bitcoin spinoff, soared over 12,000% to an all-time high in May before slumping almost 80% by mid-December. Shiba inu, which references the same breed of Japanese canine as Dogecoin, briefly muscled its way into the 10 largest digital currencies. 

The memecoin phenomenon was linked to the "Wall Street Bets" movement, where retail traders coordinated online to pile into stocks such as GameStop Corp, squeezing hedge funds' short positions.

Many of the traders - often stuck at home with spare cash during coronavirus lockdowns - turned to crypto, even as regulators voiced warnings about volatility.

"It's all about the mobilisation of finance," said Joseph Edwards, head of research at crypto broker Enigma Securities.

"While assets like DOGE and SHIB may in themselves be purely speculative, the money coming into them is coming from an instinct of 'why shouldn't I earn on my money, savings?'" 

3/Regulation: The (large) elephant in the room

As money poured into crypto, regulators fretted over what they saw as its potential to enable money laundering and threaten global financial stability.

Long sceptical of crypto - a rebel technology invented to undermine traditional finance - watchdogs called for more powers over the sector, with some warning consumers over volatility.

With new rules looming, crypto markets were skittish to the possible risk of a clampdown.

When Beijing placed curbs on crypto in May, bitcoin tanked almost 50%, dragging the wider market down with it.

"Regulatory risk is everything because those are the rules of the road that people live by and die by in financial services," said Stephen Kelso, global head of markets at ITI Capital. "The regulators are making good progress, they're catching up."

4/NFTs

As memecoin trading went viral, another formerly obscure corner of the crypto complex also grabbed the limelight.

Non-fungible tokens (NFTs) - strings of code stored on the blockchain digital ledger that represent unique ownership of artworks, videos or even tweets - exploded in 2021.

In March, a digital artwork by U.S. artist Beeple sold for nearly $70 million at Christie's, among the three most expensive pieces by a living artist sold at auction.

The sale heralded a stampede for NFTs.

Sales in the third-quarter hit $10.7 billion, up over eight-fold from the previous three months. As volumes peaked in August, prices for some NFTs rose so quickly speculators could "flip" them for profit in days, or even hours.

    Soaring crypto prices that spawned a new cohort of crypto-wealthy investors - as well as predictions for a future of online virtual worlds where NFTs take centre stage - helped fuel the boom.

    Cryptocurrencies and NFTs' popularity may also be linked to a decline in social mobility, said John Egan, CEO of BNP Paribas-owned research company L'Atelier, with younger people drawn to their potential for swift gains as soaring prices put traditional assets like houses out of reach.

    While some of the world's top brands, from Coca-Cola to Burberry, have sold NFTs, still-patchy regulation meant larger investors largely steered clear.

    "I don't see a situation where licensed financial institutions are actively and aggressively trading (these) digital assets in the next three years," Egan said. 

Follow HT Tech for the latest tech news and reviews , also keep up with us on Twitter, Facebook, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 31 Dec, 12:35 AM IST Tags: CryptocurrencyBitcoinDogecoinShiba InuNFTs

71640888697329

NEXT ARTICLE BEGINS Tips & Tricks Apple's Handoff feature allows your iPhone and Mac to “talk” to each other. --> Copy on your iPhone, Paste on your MacBook! Know how to enable this feature Twitter users can make their tweets visible to their followers only. --> Protect your tweets from CREEPY stalkers: Know how to secure them on Twitter You can add more taskbar to Windows 11 with the Linkbar app. --> Windows 11 extra taskbar: How to add it on your PC? Passwords stored on web browsers can be easily stolen by a malware called Redline Stealer. --> Saving password on Google Chrome? Read this and you might delete them NOW Know how to lock your Facebook profile. --> Lock Facebook Profile from phone, PC: Here’s to do in easy steps Editor’s Pick eSIM technology is an advanced version of the SIM card that negates the need for physical SIM card. --> iPhone 14 with eSIM! What is eSIM? How to get an eSIM in India right now? The Oppo Find N works as tremendously good as a conventional smartphone when closed; --> Oppo Find N overview: Reiterates importance of size Have you made payment to the wrong bank account number? Know how to get your money back. --> Making a money transfer? STOP! Know this online banking tip first The Infinix InBook X1 with the 10th Gen Intel Core i5 processor currently costs ₹45,999. --> Infinix InBook X1 (Core i5) review: Cheap laptops are getting better Best iPhone for you: The iPhone 13 Pro Max is easily the best of its kind you can buy. --> Best iPhone for you RIGHT NOW: iPhone 13 or iPhone 12? Or is it iPhone SE? Trending Stories Spider-Man No Way Home torrent download hiding a cryptominer malware, suggests research.

Heading into the first trading week of 2022, here is a quick roundup of the top five stories from the technology, corporate and cryptocurrency sectors that investors would not want to miss out on from the weekend.

1. Tesla Q4 Deliveries Surge Despite Supply Chain Issues: Electric vehicle maker Tesla Inc. (NASDAQ:TSLA) reported record fourth-quarter and annual deliveries that far exceeded analysts’ estimates despite supply chain disruptions. The Elon Musk-led company delivered 308,600 vehicles in the fourth quarter, up 28% from the previous quarter and also up 71% year-over-year.

2. Cryptocurrency Market Anticipates ‘Last Hammer’ Drop In China: The Santa rally that has eluded Bitcoin and other major cryptocurrencies was due to the cryptocurrency market anticipating the “last hammer” in Beijing’s arsenal to drop, according to Ballet Crypto CEO Bobby Lee.

Lee was referring to delayed enforcement of China’s cryptocurrency ban as major exchanges had until Dec. 31 to fully de-register Chinese clients.

3. Apple’s ‘Strong’ 2022 Product Line Up: Apple Inc.’s (NASDAQ:AAPL) “strong” product line up for 2022 could likely see the introduction of a new Mac Pro, a new Mac mini, and a large-screened iMac Pro, but the “holy grail” in terms of hardware will be Apple’s virtual reality headset codenamed N301, according to tech journalist Mark Gurman.

Meanwhile, Wedbush analyst Dan Ives maintained his “Outperform” rating and $200 price target for Apple, while his bull case for the Tim Cook-led company’s stock remains $225.

4. Spider-Man Continues Box Office Dominance: Sony Pictures’ (NYSE:SONY) “Spider-Man: No Way Out” continued to dominate the U.S. box office for a third consecutive weekend with $52.7 million in ticket sales. The movie has also emerged as the 10th highest-grossing U.S. film release in cinema history.

5. Singapore Economy Rebounds In 2021: Singapore’s economy grew 7.2% in 2021, rebounding from a pandemic-induced 5.4% contraction in the previous year. Last year’s growth rate is the fastest annual pace in over a decade for the city-state.

What Else: Among other stories from the weekend, investors would want to check out news regarding the cancelation of thousands of weekend flights in the U.S., the top ten non fungible token (NFT) projects by weekly sales volume and how China’s move to cut new energy vehicle (NEV) subsidies by 30% this year will impact EV makers.

Join ZINGERNATION and earn ZING, an ERC-20 smart contract token we launched aimed to reward members as we build a community to find and share great trading and investing opportunities. Download the mobile app now, available on iOS and Android.

Click here, or sign up for our newsletter to explore more of Benzinga's Cryptocurrency market coverage, in-depth coin analysis, data, and reporting.

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There is no denying that cryptocurrencies have had a significant impact on the world. It's upending businesses, altering consumer behaviour, and driving many institutions to reconsider their strategy as they seek new methods to attract customers. Many corporations placed their cash reserves in cryptocurrencies during the pandemic since they assumed currencies like Bitcoin were a safe bet amid economic turmoil.

However, as cryptocurrency evolves and matures, significant constraints remain to prevent widespread use. Crypto payments are still not an option for most businesses, but crypto and blockchain startups globally are working hard to alter that.

What exactly is a cryptocurrency?

A cryptocurrency is a digital or virtual currency that is secured by encryption. Because of its intrinsic security-focused design, cryptocurrency is impossible to forge. The organic nature of bitcoin is a distinguishing trait and possibly its most attractive allure — it is not issued by any central authority, making it potentially impervious to government meddling or manipulation.

What exactly is blockchain?

Blockchain technology supports Bitcoin and many other cryptocurrencies, but it also has additional applications. On a blockchain, information is stored in chunks or "blocks" that are linked to previous blocks, forming subsequent chains. Each block provides transaction information as well as a link to the next block. Blockchain can validate the authenticity, legitimacy, and history of transactions. However, it is not a "on/off" switch. Blockchain transactions continue to be encrypted and kept on each node or computer.

What are the benefits of accepting cryptocurrency payments?

The cryptocurrency environment has a number of advantages over traditional financial systems, including the following:

1) It is decentralized, as in it is not owned by a single individual or government — it is a democratization of money management.

2) Transactions are confirmed and added to the blockchain in minutes, eliminating the need for third intermediaries.

3) Safe, because it is a shared database that cannot be updated unless the majority of users agree. It is also fraud-resistant because users can only store, access, and safeguard data from institutions that have the necessary credentials.

4) Economical, particularly for cross-border payments, as it significantly decreases banking expenses due to all transactions occurring digitally and quickly.

However, businesses considering taking cryptocurrency payments should be aware that digital currency is subject to extreme volatility and price changes, which, although appealing to traders, add a degree of uncertainty for enterprises. The FCA also issued a statement on the subject earlier this year, cautioning businesses and consumers alike about the dangers of this new sort of currency.

How can you use cryptocurrency payments in your business?

If your company wishes to accept crypto and blockchain payments, you must use a cryptocurrency payment platform to reduce implementation risk and conveniently facilitate transactions in the most popular crypto payment currencies, such as Bitcoin, Ethereum, Litecoins and Stellar Lumens.

An out-of-the-box payments infrastructure would allow for a transparent and simple merchant application procedure, allowing for quick acceptance decisions for high-risk firms. It can provide unique customer insights into this new area in addition to offering the essentials for simple payment implementation, such as bitcoin wallets.

In summary

Cryptocurrency payments have the potential to create a more borderless and globalized economy while also combating financial inequality by providing rapid and secure financial services to people who do not have access to a bank. This is a huge gain for both online and offline payments.

1049

In recent months, your attention has probably been drawn to the concept of NFTs (non-fungible tokens). When Mike Winkelmann, a virtual artist who goes under the moniker Beeple, sold Non-fungible tokens for $69 million earlier this month, the news made headlines throughout the world. And it extends beyond the realm of art. A massive amount of money is being spent by consumers on nontraditional collectibles of all kinds, ranging from sports collectibles and highlight videos to digital houses and AR (augmented reality) sneakers and music.

In tandem with the rising popularity that NFTs have enjoyed, there has also been a rise in the amount of distinct NFT marketplaces available. Some provide introduction trading services, whereas others specialize in a particular area. The Binance NFT marketplace, a centralized platform that is part of the world’s largest crypto-related ecosystem, will be covered in detail in this guide.

What Is The Binance NFT Marketplace?

Before we get too far ahead of ourselves, let’s start at the beginning and address the fundamental question of what the Binance NFT market is in the first place.

The Binance NFT (non-fungible tokens) marketplace is a digital art and collectibles marketplace that accepts all types of digital collectibles and artworks as entries. The Binance NFT marketplace, backed by the Binance blockchain infrastructure and ecosystem, gives the highest liquidity platform for investors to launch and trade new financial tokens (NFTs).

Binance can remove a significant detection of fake players from the playing field. Since the trading operations for certain NFTs are not private – every creator, purchaser, and seller of a given NFT has given their identification-proving credentials to Binance before accessing the marketplace in concern. In a nutshell, your non-fungible trade experience should be significantly safer in the broadest sense!

Following that, the controlled structure of the Binance NFT marketplace enables it to offer some of the most competitive fees and liquidity in the cryptocurrency industry. To profit from trading NFTs or avoid the hefty gas expenses connected with Ethereum, it is critical to understand both of these features.

Binance has gained the trust and respect of countless users worldwide by providing them with superior service. It logically extends to any other initiatives that the firm may be involved in – if you notice that a site is owned or operated by Binance, you can believe that the service is trustworthy as a whole. It is unquestionably applicable to the Binance NFT marketplace.

It is one of the latest NFT markets. Still, it has attracted many worldwide influencers and businesses who have collaborated to produce their unique, exclusive NFT drops for the platform, despite its relative youth. It also leads us to our second argument: the practical advantages of using the Binance NFT market.

What Is The Best Way To Get Started With The Binance NFT Marketplace?

Artisans, creators, and crypto fans come together on the Binance NFT Marketplace to make and trade NFTs, a platform that allows them to do both. There are three product lines available on the platform:

Events are available: exclusive and premium NFTs created by a world-renowned artist.Marketplace: Mint NFTs from around the world and bid on them.Mystery Box: Chance to win uncommon NFTs in a box full of possibilities.

Please keep in mind that once a Mystery Box has been purchased, it cannot be returned for any reason. However, you can exchange the NFT or the unsealed Mystery Box.

What Are The Advantages Of Using Binance’s NFT Market?

The introduction to this guide said that each unique NFT marketplace on the web would have a separate set of characteristics available to its users. Some publishers offer generous royalties on subsequent sales. Others are gimmick markets that contain only a select number of NFTs, allowing their operators to get their products noticed more quickly than in other markets. So, what are the actual advantages of the Binance NFT marketplace, given all of this information?

There are a plethora of them. Some of these have already been covered above, such as centralization, dependability, and general reputation among the cryptographic community. However, a few elements of NFT are unique to this technology.

NFTs Of Various Types

There are a few different sorts of NFTs sale points on the Binance NFT market. It means that you won’t be restricted to purchasing a single  NFT immediately or bid on it at the time of a scheduled auction.

Binance, on the other hand, provides premium events for NFT fans. These events feature a variety of exclusive NFTs by some of the world’s most well-known businesses and artists. If you want to possess some rising NFT art, these VIP events provide you the opportunity to buy limited-edition pieces.

As I have already mentioned, the Binance NFT market also contains a variety of Mystery Boxes that may be purchased. They can include some valuable and rare NFTs, and they can add an aspect of excitement and surprise to the experience of anyone prepared to buy them.

The fact that Binance seems to be the only non-fungible tokens marketplace to have implemented the mystery box option is worth emphasizing as well. However, while you may find certain mystery boxes on other markets, these are not allowed by the platforms themselves and are instead sold by individuals who are less well-known in the industry. It is an important thing to consider.

However, while many are just curious about the world of NFTs (non-fungible tokens), it’s pretty much safe to say that the vast majority of NFT enthusiasts are also avid supporters of cryptocurrency in general. Individuals who have made investments in the cryptocurrency market and are currently holding onto some of their funds are called “fans.” This group also includes day traders who are active in the market.

In the case of cryptocurrency, you’re undoubtedly well aware that there are numerous services and products that you’d need to be a subscriber to have a positive experience with the cryptocurrency. At the very least, this is the situation if you are not utilizing the Binance NFT exchange platform.

As you can see, practicality is the keyword of the game when it comes to Binance. The reason for this is that you can utilize a single account across the entire Binance ecosystem!

With this in mind, if you were to open a trading account on the Binance NFT marketplace, you would’ve been able to use that same account to invest in cryptocurrencies on the company’s trading platform and to access the company’s wallet.

It makes no difference whether you’re a newcomer to the cryptocurrency scene who isn’t all that interested in setting up 5 distinct accounts on numerous crypto-related platforms or an experienced trader who appreciates the convenience of having a single account on multiple crypto-related platforms. And that is precisely what you will receive when you use Binance.

Low Transaction And Gas Fees, As Well As High Liquidity

Regarding trading cryptocurrencies and non-financial tokens (NFTs), liquidity is among the most crucial considerations. It is a metric that may be used to demonstrate the performance of both coins and tokens and the NFTs trading platform (in this example, the marketplace) that contains them both.

For the uninitiated, strong liquidity means that you will have no difficulty trading and swapping said cryptocurrencies or tokens for cash (fiat money) and vice versa. As for liquidity, if it is something you are concerned about, Binance has you covered. This marketplace has the most excellent liquidity statistics on any internet marketplace! The exchange has been able to achieve this yet again due to the strong reputation it has built in the business.

When selecting an NFT marketplace, transaction fees are yet another significant consideration to consider. If they are overly high, they can significantly reduce your profits or make some NFTs significantly more expensive than they were initially designed to be. Your transactions on the Binance NFT marketplace, on the other hand, will result in a fee of one percent. That is extremely low.

Royalties, on the other hand, are treated the same way. It is possible to earn 1 percent royalties on each subsequent sale of an NFT (non-fungible tokens) on Binance if you build an NFT on the exchange, sell it, and then sell it a couple more times. The NFT Binance gas fees, on the other hand, are the area where you will most probably be able to save the most money.

The majority of current NFT exchanges trade with non-fungible tokens based on Ethereum. While such NFTs are the most widely used, they are also the most expensive to produce due to the high minting costs. It is because the Ethereum network is now congested, and several other factors are coming into play simultaneously.

The Binance non-fungible tokens marketplace, on the other hand, provides customers with NFTs that are based on the Binance Smart Chain. Compared to the creation of Ethereum tokens, the primary advantage of such tokens is that their creation is significantly less expensive. Occasionally, you may get a BSC NFT for pennies on the dollar. For example, it allows users to make NFTs without spending a fortune while also serving as a beginner-friendly entry point into the realm of NFT development and sales.

Beginning Your Journey With The Binance NFT Marketplace

It’s reasonable to assume that you’re already acquainted with the non-fungible tokens (NFT) Binance environment, at least at its most basic level. Let’s now take a deeper dive into the subject and see how you ought to go about how to use the platform and acquire your first non-fungible tokens.

Registration And Verification On Binance NFT Marketplace

Registration on the Binance non-fungible tokens marketplace is the first step you must take to begin with the marketplace. That most likely wasn’t a surprise, did it? If you’ve never utilized Binance before, go to the company’s official website and follow the instructions to complete the signup procedure. There are no complicated steps, and the signup wizard will walk you through every step of the process.

The completion of certain Know Your Customer (KYC) procedures will also be required before you may begin using Binance’s services. Given that Binance is a controlled cryptocurrency exchange, they need to verify the identities of their customers to ensure that no foul play is being perpetrated.

If you already have a Binance account, you can skip to the next section. Because, as previously stated in the chapter, the Binance NFT marketplace and the trading side of the platform share the same account, anyone who has access to one will also gain access to the other.

Once you’ve completed your account setup, you’ll need to transfer some fiat money and purchase the crypto coins associated with the set you’ve chosen. Depending on your preference, you will need to purchase either BUSD, BNB, or Ether currencies. These are the 3 coins that are allowed payment options when trading NFT on the cryptocurrency exchange, Binance.

Purchasing NFTs

In reality, the procedure of purchasing the actual non-fungible tokens on the Binance NFT marketplace is pretty straightforward, and it is comparable to any such digital shopping you might be performing. Having stated that, you might take a couple of various approaches to accomplish your goal.

To begin with, the quickest and most straightforward method of acquiring a selected NFT is to buy it on the spot. It can be accomplished through the use of tokens with a predetermined value. If you come into an NFT homepage page that contains the word “bid,” you should assume that this will not be an option for you.

Fixed-price NFTs, on the other hand, are one of the most popular, so you shouldn’t be concerned about being limited in your options. Once you’ve found the non-fungible token that’s right for you, all you have to do now is click on the enormous “Buy Now” button and pay the whole amount – that’s it.

The auctions for NFTs will be held next. These particular tokens are ones on which you can place bids and contest with other NFT specialists to obtain them. The same as with regular auctions, the individual who has put the top bid will be the one who receives the NFT at the end of the auction’s period. The procedure of bidding itself, on the other hand, is not complicated. First and foremost, you must locate a token on which you wish to place a bid. Once you’ve arrived on the website, you’ll need to click on “Place a Bid.”

In the pop-up window that appears, enter the amount of crypto you wish to bid on the NFT. Remember that the coin you use to bid will change depending on the token.

All bids have a minimum markup. You can either increase the minimum markup or enter your own (above the minimum markup) to bid. After you’ve reviewed the numbers and settled on your bid amount, click “Place a Bid” once again, and then sit back and wait. Your cryptocurrency bid will be frozen in your account for the length of the auction or until a better offer is placed on the NFT.

Finally, you can purchase Mystery Boxes specific to the Binance NFT market.

Selling The NFTs

The Binance NFT marketplace makes selling NFTs a breeze. To begin, go to your “NFT Asset” area and select the collection. Pick the NFT you want to sell here. First, decide on the sale type. NFT can be sold for a predetermined price or at an auction. If you choose the former, you’ll be prompted to establish a value for your NFT and select a cryptocurrency as payment.

If you choose the auction approach, you will be prompted to enter the minimum bid placed on your NFT.

After completing the preceding steps, you must choose how long your NFT will be featured on the Binance NFT marketplace. This interval can be up to a week. Then you’ll need to create a classification for your tokens and create a description to help potential purchasers locate and learn more about them. After that, you can submit your NFT to be listed.

Creation Of NFTs

To begin, go to the Binance NFT marketplace and click the “Create” icon in the top right corner. After that, you’ll be asked to produce an image, audio or video file.  Then you must submit your file, title it, and describe it. After that, you’ll notice the minting cost at the bottom of the page. Make sure you have pretty enough BNB to pay it! Unlike Ether’s gas expenses, the BNB fee should be modest (0,005 BNB at the time of writing).

After the minting procedure is complete, you can discover your new NFT on your profile’s “Collection” page. You can also check the token’s history and some other information here.

The best thing is that you don’t even have to be the developer of NFTs to get this 1% royalty. If you bring in any NFTs into the Binance marketplace, you will be entitled to the same 1% royalty.

Final Thoughts

So, that finishes our overview of the Binance NFT market! We’ve gone over all of the significant elements of the market and the NFT buying, selling, and creation processes in detail. The Binance non-fungible tokens marketplace isn’t tricky to utilize at its core. You’ll have a specific NFT profile and be able to buy and sell NFTs without anxiety once you join the platform and complete all of the KYC requirements.

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Dr. D. Mukhopadhyay The digital currency called Bitcoin, first appeared in January, 2009, the brain child of pseudonym, Satoshi Nakamoto. Bitcoin is devoid of any intrinsic value as it is not redeemable for some amount of another commodity. It has neither physical form nor it is legal tender nor attributed with any statutory feature of a legal entity and the central bank of the country has no control over the supply of this digital currency. The circulatory system of Bitcoin is completely privately individualistic since no financial institutions nor any regulatory authority is associated in financial transactions held though Bitcoin. Bitcoin is based on the foundation of cryptography meaning thereby that no third party view is able to view the communication. Each Bitcoin and each user is encrypted with a unique identity, each transaction is virtually recorded on decentralized public ledger technically known as block-chain aka distributed ledger and it is visible to all computers in place on the network. It never reveals any personal information in respect of the parties involved in a virtual transaction through Bitcoin. Bitcoin based transaction is becoming popular day by day since it involves low transaction cost, secures privacy and is devoid of inflationary influence consequence of which is no erosion in purchasing power. The purchasing power of Bitcoin is not determined by demand-supply apparatus but is purely based on speculation and market is volatile in nature. Under the given operational backdrop, each country is observed to be of serious concern of its legality , cross border movement and its misuse in creating undesired geopolitical instability and threat to internal peace of a country as it is capable of fomenting delivery of financial crimes at both the domestic and international levels, as an outcome, controlling domestic and cross-border crimes in one hand and restoring peace at other end becomes very dear for any country including India. Law at domestic as well as international arena is the pivotal force to deal with any crime. It may sound to be factual that Law is hardly observed to be proactive but it is born mostly out of reactive and breakdown maintenance philosophy and History is witness to signify that Laws are always far behind the speed of technological advancement that is being the order of the day in the 21st Century. Almost Governments of all the countries have been observed to have initiated their reactions against the unprecedented challenges the cryptocurrency has thrown open. Cryptocurrency has compelled the Government and other allied establishments to contemplate and architect certain Laws and Regulations in order to supervise and keep the Bitcoin use as an alternative of existing legal tender in disciplined, controlled and transparent manner so that government exchequer is properly endowed with tax as usual on the profit arising out of Bitcoin transactions and pseudonym transactions are within the reach of administrative control. The immediate issues relating to the Licensing Law, Taxation Law, Financial Criminal Controlling Laws such as Money Laundering, Foreign Exchange Management, Cyber Laws , Indian Penal Code, Indian Penal Code Procedures, Civil Laws and Civil Code procedures concerning Ecommerce, Benami Transaction , cross-border transactions , underworld transactions are of high relevance. Under the given spectrum, the Government has to take into understanding that banning bitcoin or cryptocurrency transactions is not going to serve the purpose as Cryptocurrency has emerged to stay for long signifying thereby evolutionary advancement in science and technology , management process for obviating time consuming and cost prone economic transactions are dominant forces that make the society used to adopt Bitcoin. Out of emergence of this new digital currency, legal issues relating to legal tenderness, definition of Bitcoin in terms ‘commodity’, ‘assets’ ‘revenue’ ‘capital’ legal identity, regulatory and monitoring transactions through Bitcoins are of prime headache for any establishment. The U. S. Congress mandated by the Federal Constitution directed the Government Accountability Office(GAO) through the Senate Finance Committee to review the tax implications requirements and compliance risks. In SEC v. Shavers, a Federal District Court defined Bitcoin as ‘an electronic form of currency unbacked by any real asset and without specie, such as ‘coin or precious metal’ which is formally recognized that supply of Bitcoin is not regulated by any governmental authority nor by a central bank but it is based on an algorithm which aids in structuring a decentralized peer-to-peer financial transaction system. In order to curb any fraud and financial crimes , the Ratio of SEC v. W. J. Howey was adopted by the SEC signifying that financing instruments using ‘Bitcoin’ comes within the formal meaning and definition of security in the U.S. Both the Shavers Court and the SEC observed that the transactions through Bitcoin had met the ‘Three Factors Howey Tests’ since the transactions were found to have been involved in investment in the form of money or investment of money, secondly , transactions have been taken place in common enterprise and finally the transactions had been observed to have aimed at deriving profits in order to meet the motive of the promoters or a third party and these characteristic features of the transaction made Cryptocurrency get legal umbrella under the U. S. Securities Act which requires the token issuers either to comply with registration requirements provisions as provided by the SEC or obtain formal exemption from the same. Further, the Commodity Futures Trading Commission (CFTC) determined that Bitcoin and other virtual currencies are ‘commodities’ under the U.S. Commodity Exchange Act. CFTC is found to have taken action against ‘Bitfinex’ , the company , who was operating an online exchange and trading platform to deal in Cryptocurrencies without having been registration and failing to meet the ‘actual delivery’ norms. In the beginning of 2021, China completely banned Bitcoins and instead introduced its own digital currency. Indian scenario in dealing with the issues relating to Bitcoin transactions is quite different from that of the discussed. In April 2018, the RBI, the Money and Currency Market Regulator, being the central bank of the country, framed a Regulation to prohibit banks and financial institutions to provide their services to any entity dealing in or using virtual currencies. A case questioning the validity of this Regulation was challenged by a group of private entities in the Apex Court, Supreme Court of India. The Supreme Court heard the case, Internet and Mobile Association v. Reserve Bank of India and it delivered its judgment based on the Article 19 (1) (g) of the Constitution that business of dealing in virtual currencies is a right protected by the Constitution as long as there is no legislative prohibition. In simplicity, the RBI is empowered to regulate virtual currency transactions but imposition of prohibition by it is disproportionate and unconstitutional. Therefore, currently, there is no legal backing to the referred prohibition and the action of the RBI though the said Regulation is null and void. Government of India had slated ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’ in the Winter Session of Parliament. A complete ban of Cryptocurrency is not at all advisable as it is quite likely to assist underground payment system which is essentially decentralized and almost beyond the catchhold of Regulator. The Cryptocurrency banning countries include Qatar, Tunisia, Egypt, Iraq, Morocco, Algeria, Bangladesh, Bolivia, Turkey, Indonesia, China and the countries where Bitcoins can be used anonymously in conducting transactions include besides the USA, the European Union, Canada, Australia, El Salvador, Denmark, France, Germany, Iceland, Japan, United Kingdom , Switzerland, Singapore, UAE and so on. In a nut shell, it can be observed that there are , so far, three kinds of approaches to handle Cryptocurrency such as the countries banning completely, implicitly and countries legalizing Cryptocurrency transactions through regulatory measures. From overall analysis, U.S. approach in dealing with Cryptocurrency transactions is of much clarity in the procedure procedure as it does not question the legal validity of underlying Cryptocurrency transactions as long as the underlying securities are registered or obtained through exemption route. However, SEC established a Cyber Unit for handling cyber-related misconducts, frauds and market abuses in inclusive manner. On the contrary, CSRC being the regulatory arm of China for combating Cryptocurrency evils since it considers Cryptocurrency transactions is nothing but an evil Pandora’s Box. The legal approach and procedures adopted by the U.S. may be be followed as a guide to curb Cryptocurrency transactions as it is like to foment illegal or terrorist activities. India should comprehensively take into cognizance the experiences of the those countries banning Cryptocurrency, implicitly banning and legalizing the virtual transactions through Bitcoins as this can be of immense assistance in legislation process and enacting a piece of legislation with adequate teeth for curbing the menace arising out of Cryptocurrency transactions injurious to the economy at large and finally protect the parties involved in Cryptocurrency augmented transactions legally and financially otherwise this is likely to be a serious internal and external threats to the country keeping in view the maxim, ‘a stitch in time saves nine’. (The author is a Practising Advocate, Calcutta High Court

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Metaverse crypto coins are the talk of the town regarding trending topics on the internet. We’ve seen projects like Decentraland and The Sandbox reach multi-billion dollar valuations due to the recent Metaverse hype. This article looks at some underrated Metaverse crypto coins that cost under one cent that have a high potential to explode in value in 2022, ordered by the current unit price, lowest to highest.#5 UFO Gaming (UFO) – $0.00001679

UFO Gaming is a decentralized blockchain-based gaming platform bridging traditional games with blockchain technology. The platform features a play-to-earn Metaverse, virtual land, NFTs, and gaming. The UFO token is the native utility token of the Dark Metaverse, with each game released representing a separate planet.

The first planet that UFO Gaming will release in the Dark Metaverse is Super Galactic, a decentralized NFT-based game with a unique collection and automatic battle mechanics built on Ethereum and integrated with Polygon’s L2 solution.

UFO Gaming has extremely high community support, and the cryptocurrency has maintained multi-million dollar trade volumes since October 2021. As their ecosystem grows and when Super Galactic is released later this year, there’s no doubt that UFO Gaming can easily surpass its previous ATH and double in valuation.

You can purchase UFO on Uniswap, KuCoin, ShibaSwap, and more.

Not to be confused with Elon Musk’s company, Starlink features the STARL Metaverse, an expansive 3D social universe enabling users to trade and collect assets in its virtual blockchain-based economy.

STARL will be used as the medium of exchange within the project’s Metaverse, allowing users to buy, sell, trade, and modify in-game assets. Moreover, STARL will be used as the point of entry for various points in the Metaverse, allowing users to purchase services and access specific locations.

The STARL Metaverse development initially started on Unity’s real-time video game engine. However, since then, the team decided to develop the Metaverse professionally using the Unreal Engine (UE).

STARL will be a blockchain adaptation of Scott Brown’s game Warp Nexus, a casual online space game built around a real economy.

Starlink is one of the top projects worth watching in 2022, as once the game is released, it can easily double or even triple in valuation. In addition, the fact that the game is professionally developed with UE, with a 3D immersive environment, means it could even reach multi-billion dollar valuations like Decentraland or The Sandbox.

You can purchase STARL on Uniswap, OKEx, ShibaSwap, and more.

DeFi Degen Land features a play-to-earn Metaverse with the goal of enabling users to generate a new income, which wouldn’t be possible without the virtual environment.

DDL is the native BEP-20 token for the Defi Degen Land Metaverse, which will be integrated into their mini-games.

The DeFi Degen Land Metaverse will feature multiple mini-games, with each one having its leaderboard that restarts weekly. The leaderboards will feature the top 10 players, and each winning user will be rewarded with cash prizes between $50 and $500 weekly.

Users can currently check out their Red Light, Green Light mini-game built with Unity and available on the Binance Smart Chain and Crypto.com’s CRO network.

DDL is an underrated project because they already have an MVP (minimum viable product). If the team continues to release mini-games and builds the community around DDL, the project could easily reach new all-time highs.

You can purchase DDL on PancakeSwap and CoinTiger.

Medacoin is the native cryptocurrency to the blockchain-based Medabots game, planned to launch on Android and iOS in the first quarter of 2022. After the mobile releases, the game will be launched on Switch, PS5, Xbox Series X, and PC.

In addition, Medacoin will be used for the Medabots NFT marketplace to purchase in-game items and physical Medabots merchandise.

Medabots is an underrated project because it has some of the best art and design on the market. Check out this recently tweeted photo of the upgraded Mikazuki character:

The upgraded Mikazuki has both style and definition. Check out the gold and detail on the helmet and armor.

Masterpiece in levitation while it gathers energy into the Crescent Moon. #Medabots #Medacoin $Meda pic.twitter.com/8RFuRRSpbC

— Medabots (@MedabotsWorld) January 9, 2022

With a current market cap of $14 million, Medacoin is highly undervalued and is worth keeping an eye on in 2022.

You can purchase MEDA on PancakeSwap and LBank.

Radio Caca is a decentralized organization and the exclusive manager of the Maye Musk Mystery Box (MPB) NFT. Radio Caca has a native token called RACA, used in their ecosystem and the Universal Metaverse.

The Universal Metaverse is a 3D planet world where users can own land, build stores and art galleries, and play games. The Metaverse will feature a Google Earth-like UI where users can zoom in and out and travel around the 3D environment.

RACA’s Metamon game is a play-to-earn blockchain-based game built on the Binance Smart Chain (BSC). The game features in-game items, all NFTs, with users receiving complete ownership of the collectibles, allowing them to buy, sell, and trade with no restrictions.

RACA is an underrated project due to its exclusive rights with Maye Musk and their USM, which the team has been hard at work developing. In recent news, the team showcased a demo where users can do the floss dance in the USM.

📣Many more character gestures and movements have been added in @USMverse #USM

You can even do the floss dance in the USM now 🥳🕺 Check it for yourself in our test server (link in bio).

Having fun is a MUST 🎉 #RACA #Metaverse @USMchain #NFTs #NFT pic.twitter.com/4la5HwKRBe

— Radio Caca (@RadioCacaNFT) January 10, 2022

Users can currently check out the beta version of the USM and explore the United States of Mars via their browser. No login is required.

With a current market cap of $435 million, as the team continues building the USM, there’s no reason that RACA can’t achieve similar valuations to Decentraland.

You can purchase RACA on PancakeSwap, Poloniex, OKEx, and more.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency.

Also Read:

Top 5 Underrated Metaverse Crypto Coins With a Market Cap Below $3 Million

Follow us on Twitter @thevrsoldier to stay updated with the latest cryptocurrency news!

Image Source: UFO Gaming

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Robinhood’s chief financial officer has revealed the popular trading platform’s crypto priority and the potential of listing more cryptocurrencies. “We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators,” he emphasized.

Robinhood Waiting for Regulatory Clarity

The chief financial officer (CFO) of Robinhood, Jason Warnick, talked about cryptocurrency during The Wall Street Journal’s virtual CFO Network Summit last week.

Commenting on retail investors’ high demand for Robinhood to list more cryptocurrencies, particularly the meme crypto shiba inu (SHIB), Warnick emphasized, “It’s not lost on us that our customers and others would like to see us add more coins.” However, the Robinhood executive stressed:

We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators.

Compliance is a top priority at Robinhood. In December last year, the company partnered with blockchain data platform Chainalysis to meet compliance requirements.

Supporters of the shiba inu cryptocurrency have been petitioning on Change.org for Robinhood to list SHIB. At the time of writing, 555,811 people have signed the petition.

Christine Brown, Robinhood Crypto’s chief operating officer and VP of Product Operations, said in November that the platform is in no hurry to list any additional cryptocurrencies. Her statement was in response to a question about when SHIB will be listed.

Robinhood Crypto currently supports the buying, selling, and real-time market data for bitcoin (BTC), bitcoin cash (BCH), bitcoin sv (BSV), dogecoin (DOGE), ethereum (ETH), ethereum classic (ETC), and litecoin (LTC).

Warnick also clarified at the summit that Robinhood will not be buying cryptocurrency for its corporate treasury like some companies have done, such as Microstrategy and Tesla. He explained:

There aren’t compelling reasons strategically for our business to put any meaningful amount of our corporate cash into cryptocurrencies.

In December last year, Robinhood launched a cryptocurrency gift program. The company also announced the upcoming beta launch of its cryptocurrency wallets, which has a waitlist of 1.6 million people.

Tags in this storyRobinhood, Robinhood Cryptocurrency, Robinhood Cryptocurrency listings, Robinhood Cryptocurrency Regulations, Robinhood digital assets, robinhood shib, robinhood shiba inu, robinhood trading platform

What do you think about the Robinhood executive’s comments? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Bitcoin's (CRYPTO:BTC) growth during the past decade has started to attract more interest from institutions and big asset managers as a long-term investment. Despite the growth of other cryptocurrencies, such as Ethereum and Dogecoin, Bitcoin is still the largest by value, commanding 40% of the market.

But other cryptocurrencies have much greater utility than Bitcoin, especially in the realm of decentralized finance (DeFi), non-fungible tokens (NFTs), and much more. This is causing other coins to outpace Bitcoin, and 2022 could see that trend continue.

For those reasons and others, Avalanche (CRYPTO:AVAX) and Solana (CRYPTO:SOL) are two fast-growing cryptocurrencies that are worth buying.

Image source: Getty Images.

. Avalanche

Avalanche was developed by Ava Labs, a crack team of experts in computer science, economics, finance, and law. It launched in 2020 with a market cap of about $100 million. The price of AVAX soared more than 3,000% during the past year and now ranks as the 11th most valuable cryptocurrency, with a market cap of $25 billion. Based on recent developments, AVAX, which is the native cryptocurrency of Avalanche, could see more gains next year.

Recently, Deloitte announced a partnership with Ava Labs to use the Avalanche blockchain to support a new disaster-recovery platform for state and local governments. The platform is called Close As You Go and helps local governments "simplify and streamline disaster reimbursement applications to the Federal Emergency Management Agency (FEMA)." The Avalanche blockchain would help improve the accuracy of federal claims and reduce instances of fraud.

Avalanche ranks as the third most active cryptocurrency on Github, according to CryptoMiso, which indicates strong interest from project developers. Avalanche is getting more attention from developers and investors, primarily because Avalanche is much faster, less expensive, and more energy-efficient than Bitcoin. 

More deals like Deloitte's could fuel positive sentiment and push AVAX's value higher, so consider adding a small position to your crypto wallet.

2. Solana

The price of SOL has risen even faster than AVAX, up 12,000% over the past year, giving it a market value of $54 billion, fifth most among cryptos. Cryptocurrencies are risky. It's possible to lose all your money, but if you invest what you're willing to lose, Solana's performance shows it's worth the risk of a small investment.

Solana was designed to be fast. It was developed using an innovative blockchain architecture known as proof of history, allowing Solana to potentially process as many as 710,000 transactions per second using today's hardware. That is many times faster than the biggest credit card networks, such as Visa and Mastercard. Solana currently processes about 2,000 per second, whereas Bitcoin typically handles around three transactions per second. 

Given its speed, energy efficiency, and relatively lower transaction cost, Solana is quickly gaining interest from developers working on DeFi and NFT applications. 

Solana is a good cryptocurrency to consider if you're interested in investing in the NFT boom. In case you're wondering, NFTs are basically virtual collectibles sold as digital tokens and can be traded like any cryptocurrency. Solanart and Solsea are two NFT marketplaces based on Solana, and there will likely be more.

The growing popularity of NFTs is one factor contributing to investor interest in Solana. It's a hot market that doesn't show signs of slowing down. Total NFT sales reached an estimated $26.9 billion in 2021. Several top brands, including Nike and toy company Mattel, have expressed interest in offering virtual collectibles for sale to NFT collectors. This doesn't necessarily benefit Solana directly, but it leads to positive sentiment around SOL, which could support its value. 

Think like an investor with cryptocurrency

Both Solana and Avalanche check all the right boxes of what to look for when investing in altcoins or any cryptocurrency besides Bitcoin. They have growing utility value, something that Bitcoin lacks -- beyond being the most widely held digital currency.

Keep in mind that no amount of analysis can guarantee which cryptocurrencies will go up in value. The right cryptocurrency could make you a millionaire, but be aware of the risks. The best way to proceed is to stay alert to recent developments that could benefit or hurt the adoption of any given cryptocurrency, invest what you can afford to lose, and focus on the long term.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re 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. Stock AdvisorS&P 500643%148%Join Stock Advisor

Discounted offers are only available to new members. Stock Advisor will renew at the then current list price. Stock Advisor list price is $199 per year.

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Cumulative Growth of a $10,000 Investment in Stock AdvisorCalculated by Time-Weighted ReturnStocksBTCBitcoin CRYPTO:BTCSOLSolana CRYPTO:SOLAVAXAvalanche CRYPTO:AVAX

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Bitcoin may be the most mainstream cryptocurrency, but the Ethereum community has ambition.

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ByLinda HowardMoney and Consumer WriterLifestyle

There are thousands of digital currencies zipping through the virtual world, but if Bitcoin is the alleged future of money, what is Ethereum?

For someone new to the cryptocurrency space, that’s the logical question to ask, considering they probably see Ethereum and its native Ether (ETH) cryptocurrency next to Bitcoin everywhere on exchanges and in the news.

However, it’s not exactly fair to consider Ethereum to be in direct competition with Bitcoin as it has different goals, features and even technology.

CoinTelegraph defines Ethereum as a decentralised blockchain network powered by the Ether token which enables users to make transactions, earn interest on their holdings through staking, use and store nonfungible tokens (NFTs), trade cryptocurrencies, play games, use social media and much more.

CoinTelegraph explains : “Many consider Ethereum to be the internet’s next step - if centralized platforms like Apple’s App Store represent Web 2.0, a decentralized, user-powered network like Ethereum is Web 3.0.”

This ‘next-generation web’ supports decentralized applications (DApps), decentralized finance (DeFi) and decentralized exchanges (DEXs), for instance.

How does Ethereum work?

CoinTelegraph explains that like Bitcoin, the Ethereum network exists on thousands of computers worldwide, thanks to users participating as ‘nodes’, rather than a centralized server.

This makes the network decentralized and highly immune to attacks, and essentially unable to go down as a result - if one computer goes down, it doesn’t matter because thousands of others are holding the network up.

Ethereum is essentially a single decentralized system that runs a computer called the Ethereum Virtual Machine (EVM). Each node holds a copy of that computer, meaning that any interactions must be verified so everyone can update their copy.

Network interactions are otherwise considered ‘transactions’ and are stored within blocks on the Ethereum blockchain.

Miners validate these blocks before committing them to the network and acting as transaction history or a digital ledger.

Mining to verify transactions is known as a proof-of-work (PoW) consensus method. Each block has a unique 64-digit code identifying it.

Miners commit their computer power to find that code, proving that it’s unique. Their computer power is ‘proof’ of that work, and miners are rewarded in ETH for their efforts.

Also, like Bitcoin, all Ethereum transactions are entirely public. Miners broadcast completed blocks to the rest of the network, confirming the change and adding the blocks to everyone’s copy of the ledger.

Each transaction comes with a fee, called ‘gas’, which is paid by the user initiating the said transaction. Gas essentially serves as a limit, restricting the number of actions a user can make per transaction - it’s also in place to prevent network spam.

Because ETH is more of a utility token than a token of value, its supply is infinite and in theory, Ether will always be in demand, meaning inflation should never devalue the asset beyond use.

However, Ethereum gas fees can run quite high based on network activity. This is because a block can only hold so much gas which varies based on transaction types and amounts. As a result, miners will choose transactions with the highest gas fees, meaning users are competing to validate transactions first. This competition pushes fees higher and higher, congesting the network during busy times.

Interacting with Ethereum requires cryptocurrency, which is stored in a wallet. That wallet connects to DApps, acting as a passport for the Ethereum ecosystem.

From there, anyone can purchase items, play games, lend money and do all sorts of activities just as they do on the traditional internet which is free to users, as they’re giving away personal information.

Cryptocurrency takes the place of data here, meaning users are free to browse and interact anonymously.

Ethereum v Bitcoin

While Bitcoin is the most mainstream cryptocurrency, the Ethereum community has the ambition to expand the project.

The former is meant to be digital money, and it serves that purpose reasonably well. But Bitcoin has its limitations.

Ethereum, on the other hand, intends to overtake our current internet infrastructure. It plans to automate many processes that still require intermediaries such as using an app store.

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How to buy Ethereum

You won't be able to buy cryptocurrencies from a bank or an online brokerage like Vanguard or Fidelity. Instead, you will need to use a cryptocurrency trading platform. There are numerous cryptocurrency exchanges available, ranging from simple to complicated dashboards for advanced traders.

Different platforms have different pricing, security measures and other features, so doing some research before signing up is a good idea.

For more information about Ethereum, visit the CoinTelegraph website here.

WARNING: Nothing in this article should be read or understood to be financial and/or investment advice. Readers should take their own financial advice from a suitably qualified independent financial adviser before making any investment decisions.

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RJ Pierce, Tech Times January 17, 2022, 01:01

Solana crypto has probably won its biggest fan in boxing legend Mike Tyson, who has professed his full support for the digital currency.

(Photo: JC Olivera/Getty Images)MALIBU, CALIFORNIA – DECEMBER 12: Former professional boxer Mike Tyson attends the Celebration of Smiles event hosted by Dionne Warwick on his 81st birthday to benefit charity Medicine, Operation Smile and The Kind Music Academy on December 12, 2021 in Malibu, CA.

According to a report from Bitcoin.com, the former world heavyweight champion known as “Iron Mike” asked his many Twitter followers for their thoughts on Solana’s (SOL) height.

Before this question, Tyson obviously asked his followers to choose between Solana and Ethereum:

Solana or Ethereum?

— Mike Tyson (@MikeTyson) September 9, 2021

He was also reportedly curious about Bitcoin last year, again asking his fans what they preferred between BTC or ETH.

After this question, the boxing legend is now one of many celebrities investing in cryptocurrency, and specifically NFTs.

Tyson recently posted an NFT he purchased from the Catalina Whale Mixer collection. It features the image of a shark stylized to look like Tyson himself (complete with his iconic face tattoo.

The image of the whale itself is built on the Solana blockchain, further reinforcing its “all-inclusive” support for the coin:

All about Solana…I just cut a Catalina whale…pow pow! pic.twitter.com/97voS15B8y

— Mike Tyson (@MikeTyson) January 12, 2022

Iron Mike was also involved in an NFT project that addressed mental health. According to BoardRoom, the project was a collaboration with TheDreamChain, a cryptocurrency built on the Solana blockchain.

Solana, although not as famous as Bitcoin or Ethereum, is actually one of the largest cryptocurrencies in the world by market capitalization. As of this writing, SOL has a market capitalization of over $45 billion, according to CoinMarketCap. Each coin is priced at around $140, with highs of up to $150.

There are approximately 314 million SOL coins in circulation today. Its overall value has seen a massive 4,495% increase over the past year, making it the short talk of the town last year.

(Photo: Jakub Porzycki/NurPhoto via Getty Images) The Solana logo displayed on a phone screen and representation of cryptocurrencies are seen in this illustration photo taken in Krakow, Poland, August 21, 2021.

Also Read: Five Cryptocurrencies Redditors Want to Invest in 2022 | From Solana to Binance Coin

Is Iron Mike smart about Solana Crypto?

With the performance of cryptocurrency lately, maybe it is.

Besides the massive price increase, SOL is also gaining traction as a popular alternative to Ethereum (ETH), according to Fool.com. ETH is the second largest cryptocurrency in the world by overall value, but its network has been quite crowded recently. Additionally, ETH transaction fees have been increasing lately.

(Photo: Image by DrawKit Illustrations on Unsplash)Average Ethereum transaction fees at $46.22 with AVAX fees at just $0.000004

Another big advantage mentioned by SOL supporters is its speed. It is considered the fastest of its kind; claimed to be able to process around 50,000 TPS (transactions per second). In comparison, ETH processes can only manage 15-45 TPS.

Celebrities and cryptocurrencies

Tyson joins a veritable list of A-list celebrities who have expressed considerable interest in cryptocurrency and NFTs. The list includes Snoop Dogg, Elon Musk, Lionel Messi, Paris Hilton, and Kim Kardashian, who were included in a list by CoinTelegraph.

These names have been some of the loudest on digital currencies lately, although some of them have met with a bit of controversy: in particular Kardashian, who was sued along with several others in a so-called “pumping and dumping” case. crypto” involving EthereumMax, reports the BBC.

Related Article: Top 10 Most Promising Crypto Projects in 2022

This article belongs to Tech Times

Written by RJ Pierce

ⓒ 2021 TECHTIMES.com All rights reserved. Do not reproduce without permission.

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What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit ith-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on efits-Of-Comparing-Car-Insurance-Quotes-Online View photos

UknewsToday Total0SharesShare0Tweet0Pin it0Share0Share0Share0Leave a Reply Cancel reply Related PostsEthereum Extends Gains To Increase 8%; bitcoin companiesA representation of the Ethereum virtual currency can be seen in front of a stock chart in this…

As crypto trading becomes increasingly mainstream, cybercriminals are getting even more creative and persistent in their attempts to steal assets. You must be aware of previous hacking incidents in considering preventive actions of keeping your crypto safe.

The SIM port attack on Coinbase (CB) works like this:

Someone determines the phone number linked to your CB account.Someone determines the email linked to your CB account.Calls your phone carrier and initiates a SIM port on your account to gain access to your SMS.Goes to your email service and starts a lost-password-reset (bypasses 2FA), to access your email.Goes to CB and starts lost-password-reset (bypasses 2FA), to access your CB account.Waits for 24 hours hoping you can’t reach customer support to close your account.After 24 hour freeze thaws, empties your CB account.

So, what are the other choices? It will help if you keep your crypto in a cold wallet—something like Trezor or Ledger. Offline storage is better and much less vulnerable. Coinbase accounts are online and can be hacked. The offline cold wallet stores the private key, which keeps you safe. You do not do so through a third-party website to ensure the cold wallet is secure when you buy one. Buy directly from their websites.

HIDE 1.What is a Crypto Vault? 2.Coinbase Vault 3.What is the objective of the Coinbase vault? 4.What is the Coinbase Wallet? 5.Uses for the Coinbase wallet 6.Verdict 7.FAQs about the Coinbase wallet

Coinbase recently invested $500M in their crypto portfolio and launched phone support – indeed, this is no big deal. With the mounting hacking incidents, security precautions are taken to prevent them. So, then, let’s look into the difference between a crypto vault and a crypto wallet both from Coinbase.

What is a Crypto Vault?

Crypto vaults are safe-deposit boxes for keeping digital currency offline for future use. A crypto vault is a service offered by an exchange or another reputable source that allows you to store your coins and digital money offline, which is a considerable upgrade over a crypto wallet. It’s important to understand where to place your money while learning how to invest to avoid losing your money.

Using a cold wallet, a hardware wallet that is not connected to the internet keeps your coins safe. The safe where you keep your valuables and important documents is like your cold wallet, which includes the vast bulk of your crypto assets.

Source: Bitcoin News

If you don’t want to use a hardware wallet but still want to hold many coins offline, you may use a crypto vault. The person in charge of maintaining a crypto vault will, for the most part, keep the tokens you’ve stored in an online hot wallet secure.

You may utilize a vault to hold token shares, but you will require approval from a significant number of other owners before withdrawing any tokens from the vault. Withdrawals from a vault are more private than withdrawals from a wallet, and they provide an extra degree of protection. Therefore, you should have both at hand for different purposes.

If you have a Coinbase account, you may access the vault that Coinbase has set up for its customers. This is shown by Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and LiteCoin. The Coinbase Vault supports all of these currencies, as well as others.

Other Bitcoin exchanges may provide comparable services. For example, Gemini’s Custody service may be likened to a virtual safe deposit box.

Coinbase Vault

You give up control of your Bitcoin when you use the services of a broker or exchange. If your account is hacked or compromised, you may lose some or all of your coins. If you don’t have access to the cryptocurrency’s private keys, you own nothing to it; your coins are not yours when you can’t access them.

Source: Bitcoin News

Herein lies the value of Coinbase’s vault service. You can keep your bitcoins cold by using the Coinbase vault. When a platform is compromised, consumers expect more security. Coinbase claims that 98 percent of your money is stored offline, in geographically spread and physical safes. You, on the other hand, do not own your private keys. Coinbase has developed a vault service to provide customers with a higher sense of security.

What is the objective of the Coinbase vault?

In Coinbase vault, you may access your account by clicking the menu and selecting “Account” from the account-down menu. There is a vault-build account on the left side in the Coinbase vault at the bottom of the page.

At this time, you may store currency offered on the Coinbase platform in the vault. The entrance to the vault is free of charge.

The first step is to name your vault; the second is to set it up. You or a group of people you trust may approve Bitcoin deposits and withdrawals. Only Coinbase users can authorize your transaction. Having a large number of signatures promotes security. You may make a vault transaction even more secure by needing the approval of two-thirds or three-fifths of the people involved.

When you authorize a withdrawal from the vault, Coinbase needs a second email address to complete the transaction. You cannot change a vault’s settings after establishing it; instead, a new vault must be constructed. Within 48 hours, withdrawals from your vault may be reversed.

As a result, transactions will take longer than 48 hours. If you anticipate making frequent transactions, we do not recommend Coinbase Vault. In this instance, a hardware wallet is the best option. Using a hardware wallet, you can keep control of your private keys. Transactions should only take a few minutes when you have your private keys.

What is the Coinbase Wallet?

Coinbase Wallet is a multi-coin wallet that serves as an Ethereum wallet and a browser for Ethereum. It gives you the ability to store money, administer Ethereum-based tokens, and access decentralized apps (DApps). Remember that the Coinbase Wallet is not the same as Coinbase’s leading platform, known as the “Coinbase Consumer.”

More precisely, Coinbase Wallet is a phone app for Android and iOS built by the company Coinbase that works in tandem with their other products to enable you to store, transfer, and receive cryptocurrencies such as Bitcoin and Bitcoin Cash, Ethereum, most Ethereum Tokens, ETC. It also gives you access to DApps on the Ethereum network! You can also do the following with Coinbase Wallet:

You may use this wallet to store currencies such as Bitcoin, just as you can with Coinbase Consumer and other Coinbase services.Coinbase Wallet, like MyEtherWallet, is a wallet for storing Ethereum tokens (for example, both ERC-20 and ERC-721 tokens).Coinbase Wallet, like MetaMask and a web browser, offers an interface for utilizing Ethereum-based blockchain applications.It is also a wallet that allows you to participate in airdrops and other freebies (i.e., Unlike currencies held on exchanges, airdrops are only available to those with a Coinbase Wallet address.).Although the ability to store non-Ethereum related assets on this wallet is useful (this was introduced as a consequence of a post-launch upgrade), its main role at the time was to act as an Ethereum-based “Web3” wallet and Ethereum DAapp browser.Coinbase Wallet is a user-friendly alternative to other popular Web3 wallets like Metamask and MyEtherWallet, which may be difficult to use.

The Coinbase wallet, however, has certain limits. The Coinbase wallet, for example, is less integrated with DEXs than other Web3 wallets. If you cannot connect to a DEX using your Coinbase Wallet, you should instead use MyEtherWallet or Metamask.

Uses for the Coinbase wallet

The Coinbase Wallet is a custodial wallet, implying that the firm keeps it. Finally, you don’t have direct control over your private keys, and as a consequence, there are certain constraints. If, for example, you own a token that is moving to a new blockchain and want your private key to claim the token on the new blockchain, utilizing Coinbase Wallet is not an option. You may always move your tokens to Metamask (an Ethereum browser and wallet) and MyEtherWallet (an Ethereum wallet) if you require access to your private keys (Ethereum wallet).

You will be issued a “recovery seed” when creating a Coinbase Wallet. This is quite crucial. Please make sure you carefully copy it and put it somewhere safe and away from the internet. It works the same way as a private key to a crypto address; use the key to access your wallet but endeavor not to share it.

Please do not rely on Coinbase Wallet for fiat currencies. While Coinbase Wallet does, in theory, monitor dollar exchange rates, several of the dollar figures are outrageously incorrect. It may be advantageous to use this feature, but do not rely totally on it. Before you buy or sell, check the CoinMarketCap site for the most up-to-date exchange rates or if you want an accurate depiction of the fiat value of your tokens.

Verdict

The Coinbase Vault is intended to provide a more secure storage option. Deciding between a Coinbase Wallet against a Vault is similar to choosing between a savings account and a checking account at a conventional bank. A Coinbase wallet is suitable for day-to-day expenses. The vault functions in the same way as a traditional deposit box for business transactions.

Coinbase wallets may assist you in storing your digital money safely and securely. In addition to increasing the security of your cryptocurrencies, it will make it possible to issue smaller amounts that are more readily accessible. Depending on how secure your Coinbase wallet and Coinbase vault are, Coinbase vault may prove to be a fantastic exchange option for aggressive Hodlers and Coinbase wallet for traders.

FAQs about the Coinbase walletWhat is a hardware wallet?

A hardware wallet allows you to manage your private keys. Exchanges will take little more than 10 minutes after you have your private keys.

Is a crypto wallet similar to a savings account?

It is pretty different from a saving account because when you purchase Bitcoins through an exchange such as Coinbase, your money is sent to the business address. However, if you are buying it from a bitcoin holder by transferring his bitcoins from his wallet to your wallet, your money is sent to him as agreed between the two of you.

Why should you have your own cold storage wallet?

The most secure way to store your cryptocurrency is a hardware wallet. A hardware wallet allows you to manage your private keys. You can perform transactions within a few minutes with your private key.

What are other problems in choosing exchanges?

You might try looking into more complaints from users and avoid those which could get you into trouble.

What kind of wallet should I have?

We have several discussions on cryptocurrency wallets for your information and decision.

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

Crypto Wallets Dec 10, 2021 05:57 am Crypto Wallets Dec 10, 2021 05:30 am Crypto Wallets Dec 10, 2021 05:27 am Crypto Wallets Dec 10, 2021 05:21 am Crypto Wallets Dec 08, 2021 01:06 pm Crypto Wallets Dec 08, 2021 09:49 am January 4, 2022 January 4, 2022 January 4, 2022 January 4, 2022 January 4, 2022 January 4, 2022

There has been a distinct change in our lifestyle over the last two years. The restrictions imposed on social gatherings and cultural events have forced entrepreneurs to come up with innovative solutions in the field of entertainment.

While the pandemic has crippled certain industries, it has also given a new lease of life to others. One of the beneficiaries has been the Fantasy Sports gaming industry.

Fantasy Sports are online competitive games where participants create a virtual team consisting of real-life players while following a set of in-game rules. Points are awarded or deducted throughout the course of the tournament (or season) based on the performance of the chosen players.

To put this growth in context, the number of online gamers worldwide was 930 million in 2020, and this number is expected to surpass 1.3 billion by 2025. Similarly, the global Fantasy Sports market, which had a valuation of US$ 20.7 billion in 2020, is estimated to grow at a CAGR of almost 13% and reach a valuation of US$ 48 billion by 2027.

Fantasy sports competitions have been around for a couple of decades, but the rapid development in digital infrastructure and ready accessibility to high-speed Internet have fuelled the growth of this sector in the recent past.

As per a study by the Kellogg School of Management, participants play Fantasy Sports because of (1) the thrill of the competition, (2) the love of the sport, and (3) prizes and rewards. While the first two aspects have always been there, the third one has seen major thrust with the Play-to-Earn (P2E) gaming model.

P2E games require players to pay participation fees in some form in order to create their fantasy team. At the end of the season or tournament, those who end up on top of the Leaderboard win monetary rewards.

All these platforms are centralized systems, and provide no visibility to users into how winners are chosen and points are rewarded, forcing users to blindly trust the system.

Developers of these games have come under criticism for displaying fake “winners” and bloating up rewards while keeping the actual user statistics and distribution percentage hidden, in order to attract more users.

There have also been accusations of illegal activities, including fraud and point manipulation, so as to help the administrators keep operating at a high profit margin. Class action lawsuits have been filed against major players in the past, for fraud and false advertising.

TradeStars is an out-of-the-box P2E Fantasy Sports Game which is leveraging blockchain technology to decentralize the entire gameplay mechanics and open a world of innovation to users.  

In TradeStars, users can trade Fantasy Stocks of world class athletes, whose value is directly influenced by their past and present real-life performances. Sports enthusiasts can use their sporting knowledge to purchase stocks of promising players and see their portfolio value grow with time.

The platform has been built on the Ethereum blockchain, and is powered by leading Layer-2 scaling solution Polygon Network. Trades are carried out via smart contracts, devoid of any intermediary (or broker), completely eliminating the scope of any human interference.

Furthermore, all transactions are recorded on the blockchain and can be viewed by anyone who is interested, providing unparalleled transparency.

The use of blockchain technology enables users to have complete ownership over their assets. The Fantasy Stocks purchased are directly sent to the user’s blockchain wallet, where they reside as long as the user wants.

This is in stark contrast to centralized apps, where the fantasy team built by the user exists only for a stipulated period of time. In fact, TradeStars does away with a lot of restrictions that other apps enforce, which severely dampen the user experience.

In centralized apps, the fantasy teams have to be built by following certain in-game rules, which makes it almost impossible for the users to pick all their favourite players. Players become available for selection only when they’re participating in any ongoing or upcoming matches, and users have to pick exactly 11 players in their team.

TradeStars offers complete freedom when it comes to trading Fantasy Stocks. Users can purchase any amount of stocks and of as many players as they want. In fact, users can even trade Fantasy Stocks in fractions if they want to!

Trading is available 24×7, irrespective of whether the player would be performing in any upcoming tournament. Of course, stocks of players who are performing at present are expected to trend more.

TradeStars uses a revolutionary concept in the field of NFTs, known as F-NFTs or Fractional Non-Fungible Tokens.

NFTs are unique digital assets issued on the blockchain, where each NFT represents ‘something’ unique, such as a collector item, a piece of art, or even a music composition. Consequently, each NFT is also one of its kind, irreplaceable and non-duplicable.

TradeStars uses the same concept to represent the real-world performance of athletes, but through F-NFTs. For every player who is listed on the platform, a fixed amount of F-NFT stocks are issued, creating a “NFT Market”.

The fractional implementation enables Fantasy Stocks to be traded in fractions. This significantly lowers the economic barrier of entry to the game, as users can invest any amount as they want.

Popular P2E games such as Axie Infinity have been criticized for forcing new players to shell out hundreds of dollars first in order to stand any realistic chance of winning rewards. Not so with TradeStars – it is affordable to everyone.

TradeStars’ innovative new P2E gameplay model is pushing the boundaries of the Fantasy Sports game genre, allowing users to immerse themselves in the Sports they love in a more intricate manner.

Recently, TradeStars has launched the TSX staking program. TSX is an ERC-20 token which is both the utility token (in-game currency used for trading stocks) and the governance token of the ecosystem.

Going ahead, TradeStars wants the users to be the actual stakeholders of the platform, and play a decisive role in determining the direction of growth. In order to earn this privilege, users would have to stake TSX first.

TradeStars has also integrated fiat gateways, which will allow users to directly purchase TSX in the game through fiat payment. This will make it much easier for Web 2 users to make their first foray in the game.

Apart from this, TradeStars is launching Daily Fantasy Sports (DFS), whereby users can participate in daily contests and win prizes, apart from the seasonal rewards. Listing Fantasy Stocks of Footballers is also on the anvil, as part of their updated roadmap.

Go to https://tradestars.app/ and check out this new revolutionary Fantasy Sports game.

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If you’re based in the United Arab Emirates and wish to buy Bitcoin in safety – it’s best to do so with a regulated online broker that offers low fees.

In this beginner’s guide, we explain the step-by-step process of how to buy Bitcoin in the UAE in under 10 minutes.

How to Buy Bitcoin in UAE – Quick Steps

To buy Bitcoin in the UAE right now – the steps below will show you how to complete the process on a spread-only basis at eToro.

Step 1: Join eToro – You will first need to register an account with eToro. You can do this by supplying the broker with some information about who you are.Step 2: Deposit Funds – The next step is to deposit some funds. The minimum at eToro for those based in the UAE is $50. You can choose from a debit/credit card or an e-wallet to benefit from an instantly processed payment.Step 3: Search for Bitcoin – By entering ‘BTC’ into the search box, Bitcoin will appear. Click ‘Trade’ to load an order box.Step 4: Buy Bitcoin in UAE – The final step is to enter your required investment amount. The minimum amount of Bitcoin you can buy is just $10 at eToro. Click ‘Open Trade’ to place your Bitcoin order.

If you’ve never bought Bitcoin in the UAE before, scroll down to read our more detailed guide on the process.

>>> Buy Bitcoin in UAE Now <<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Where to Buy Bitcoin in UAE

You will need to have an account with an online broker to buy Bitcoin in the UAE.

There are plenty of options in this marketplace, albeit, the best places to buy Bitcoin are reviewed in the sections below.

. eToro – Overall Best Place to Buy Bitcoin in UAE

If you’re looking at how to buy Bitcoin in the UAE in a low-cost and simple manner – eToro is the best broker for the job. This online broker allows you to open an account in a matter of minutes and the minimum deposit requirement is just $50. Supported payment methods available at eToro include online banking, e-wallets like Paypal, and debit/credit cards.

You can buy Bitcoin in the UAE via eToro at a minimum purchase requirement of just $10. In terms of pricing, AED deposits will cost you just 0.5% across all supported payment methods. eToro only charges the spread when you trade digital currencies, and this starts from a very competitive 0.75%.

If you’re thinking about buying other digital currencies – such as Ethereum, XRP, Dogecoin, or Litecoin, eToro hosts more than 43 tokens. You can also invest in CryptoPortfolios – which are baskets of digital currencies that are managed by the eToro team. Copy Trading is also supported at eToro at a minimum investment of just $200.

>>> Buy Bitcoin in UAE on eToro Now <<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

2. Alvexo – Trade Bitcoin in the UAE via a CFD Broker

If you see yourself as more of a short-term trader, you might want to consider a regulated CFD broker like Alvexo. This popular platform allows you to trade Bitcoin and other digital currencies without taking ownership of any tokens. Bitcoin can be traded against the US dollar, euro, Ethereum, and Litecoin.

In trading Bitcoin CFDs at Alvexo, you will be able to apply leverage to your position. You will also have the option of entering the market with a sell order – meaning that you short Bitcoin if you think its price will decline. Alvexo also gives you access to CFDs in the form of stocks, indices, commodities, and forex.

3. Capital.com – CFD Broker Offering Leveraged Bitcoin Markets

Another CFD broker to consider is Capital.com. This popular trading platform is regulated by the FCA, CySEC, NBRB, and ASIC. As such, you can trade Bitcoin CFDs here in safety. All supported markets at Capital.com can be traded commission-free. Spreads are tight and no fees apply to deposits or withdrawals.

When depositing funds with a debit/credit card or e-wallet, the minimum requirement is just $20. Bank wires, on the other hand, require a minimum outlay of $250. You can trade Bitcoin here with leverage and choose to enter the market with a buy or sell order. Capital.com also offers a trading app for iOS and Android which allows you to trade Bitcoin on the move.

>>> Trade Bitcoin in UAE on Capital.com Now <<<

Your capital is at risk.

Ways of Buying Bitcoin in UAE

You can buy Bitcoin in the UAE in several different ways. Each payment method typically comes with its own processing times and fees.

As such, in the sections below, we explore the best ways to buy Bitcoin in the UAE right now.

Buy Bitcoin With PayPal

Paypal is often a popular choice for those looking at how to buy Bitcoin in the UAE. This is because Paypal transactions add an additional layer of security onto Bitcoin purchases.

The process is very similar to the process you’d undergo if you wanted to buy Bitcoin in the UK.

The best broker to buy BTC in the UAE with Paypal is eToro – not least because you will only be charged 0.5%.

We should also note that eToro requires a minimum deposit of just $50 when you use Paypal to deposit funds.

Buy Bitcoin With Credit Card

Some investors are put off by the high fees that cryptocurrency brokers charge on credit and debit card deposits.

For example, some platforms rely on a third-party payment processor like Simplex – which charges up to 10%. Coinbase directly accepts credit and debit cards, but a commission of almost 4% applies.

If you’re wondering how to buy Bitcoin in the UAE with a debit or credit card in a low-cost manner – eToro charges just 0.5% of the purchase amount.

Buy Bitcoin With Neteller or Skrill

Another option when learning how to buy Bitcoin in the UAE is via Neteller or Skrill. Just like Paypal, these e-wallets offer enhanced security on your transactions. The payment will be processed instantly and a fee of just 0.5% applies.

>>> Buy Bitcoin in UAE Now <<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Should I Buy Bitcoin in UAE

If you’re an investor that is looking to purchase Bitcoin in the UAE for the first time, you should consider both the pros and cons that this digital currency offers.

In the sections below, we explore some of the key considerations that need to be made when learning how to buy Bitcoin in the UAE.

Continues to Outperform the Stock Markets

Many investors are somewhat dissatisfied with the returns being offered by the traditional stock markets. For example, over the prior five years, the NYSE Composite has grown by 52%, while the NYSE Arca Tech 100 has increased by almost 150%.

In comparison, over the same 5-year period, Bitcoin has increased in value by over 4,200%. As such, had you invested just $1,000 into Bitcoin in early 2017, your portfolio would be worth over $42,000 today.

COVID and Inflation

In the midst of the pandemic in March 2020, the stock markets crashed by a significant amount. Moving into 2022 and some stocks are yet to recover back to pre-COVID levels.

Plus, inflation levels are at record highs – not least because of COVID-related stimulus packages being implemented by central banks.

With that said, although Bitcoin was worth just $6,000 per token in March 2020, the digital token surpassed highs of over $68,000 in the following year. As such, Bitcoin could be a great way to hedge against stalling stock prices and rising inflation.

Small Outlay Requirement

Another benefit of this digital currency is that you can now buy Bitcoin in the UAE with a small amount of capital.

This is especially the case when using a regulated broker like eToro – which requires a minimum investment of just $10 per trade.

This means that you can gain exposure to a highly speculative and volatile asset class in a risk-averse manner.

>>> Buy Bitcoin in UAE Now <<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Bitcoin Price

Bitcoin is traded across hundreds of online exchanges and as such – its price is determined by market forces. This is no different from the conventional stock markets – whereby share prices increase when there are more people buying than selling.

As you likely know, the Bitcoin price is quoted and traded in US dollars across most platforms – just like oil and natural gas. You can, however, deposit in AED at eToro at a small fee of just 0.5% – and the funds will instantly be converted to US dollars.

At the time of writing, bullish CPI news has resulted in a 5% pump in the Bitcoin price, pushing it back over $43,000. The price may have potentially found a bottom and be about to resume the bull market in 2022, meaning Bitcoin is a good investment at the current time.

Bitcoin Price Prediction

Many proponents of Bitcoin still argue that the digital currency is likely to surpass $100,000 per token by the end of 2022.

However, you can just as easily find Bitcoin price predictions that argue the contrary – with some commentators hypothesizing that BTC is due to enter a prolonged bearish cycle.

All in all, with such contrasting viewpoints available in the public domain – it’s best to avoid Bitcoin price predictions and instead does your own research.

How to Buy Bitcoin in UAE – Tutorial

If you’re new to the world of cryptocurrency trading and need a little guidance – we will now show you how to buy Bitcoin in the UAE with eToro.

Step 1: Open an eToro Account

First and foremost, head over to the eToro website and elect to open an account. This will require some personal information from you – alongside your preferred username and password.

You also need to enter some contact details – such as your email address and cell phone number.

Step 2: KYC

As per anti-money laundering laws, eToro will also need to collect a copy of your passport or driver’s license. This will ensure that your account is verified and thus – all deposit restrictions will be removed.

Step 3: Deposit Money

Those based in the UAE are required to meet a minimum deposit of $50 at eToro. You can choose from a debit or credit card, Paypal, Skrill, Neteller, or a bank wire.

Step 4: Search for Bitcoin

You can now buy Bitcoin in the UAE by entering ‘BTC’ into the search box.

Then, click on ‘Open Trade’.

Step 5: Buy Bitcoin in UAE

Enter your required investment amount in the relevant box. The minimum amount of Bitcoin that you can buy at eToro is $10.

Finally, to place your order, click on the ‘Open Trade’ button.

>>> Buy Bitcoin in UAE Now <<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Conclusion

This guide on how to buy Bitcoin in the UAE has explained the importance of completing the process with a regulated broker.

We found that eToro is the best platform to buy Bitcoin online – as the licensed provider requires a minimum stake of just $10.

eToro also came out as the cheapest place to buy Bitcoin – with the broker only requiring you to cover the spread.

>>> Buy Bitcoin in UAE on eToro <<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

FAQsIs it legal to buy Bitcoin in UAE?

Yes, you can legally buy and sell Bitcoin in the UAE.

Which Bitcoin wallet is best in UAE?

eToro doubles up as a top-rated Bitcoin broker and wallet. As such, you can facilitate all of your Bitcoin investment needs through a single hub.

Which app can I use to buy Bitcoin in Dubai?

If you’re wondering how to buy Bitcoin on your phone – the eToro app is compatible with both iOS and Android devices.

Where can I sell Bitcoin in UAE?

If you purchased Bitcoin from eToro, the tokens will remain in your portfolio until you decide to sell. As such, when thinking about how to buy and sell Bitcoin, you can do this at eToro on a 24-hour basis.

How do I buy Bitcoin in United Arab Emirates?

To buy Bitcoin in under five minutes, open an account with eToro and make a deposit, before searching for ‘BTC’. Finally, choose your investment amount and click on ‘Open Trade’ to complete the order.

How to trade Bitcoin with leverage?

You can trade Bitcoin with leverage via a regulated CFD broker like eToro or Capital.com.

How to Invest in Bitcoin in UAE?

You can invest in Bitcoin or buy cryptocurrency through a regulated broker like eToro. Unlike Capital, on eToro you actually buy and own the underlying asset, not just virtual contracts (CFDs).

How to purchase Bitcoin in AED?

You can deposit AED with eToro at a fee of 0.5% – and the funds will be converted to USD. You can then proceed to buy Bitcoin.

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Buy bitcoin in UAEShare This ArticleDo the sharing thingyAbout AuthorMore info about authorAnalytics Insight

Analytics Insight is an influential platform dedicated to insights, trends, and opinions from the world of data-driven technologies. It monitors developments, recognition, and achievements made by Artificial Intelligence, Big Data and Analytics companies across the globe.

Andrew Bruce was ready for his presentation at an oil-and-gas conference several years ago in Amsterdam: A pitch for a data-aggregation company that would help companies analyze and pay invoices faster.

Then he had a few drinks, scrapped the idea and revamped his presentation. His revised plan was for a company that would use blockchain to track progress of an industrial delivery or manufacturing order and automate payments.

“Hungover as hell,” he wasn’t sure what reception he would get, but those in the room seemed interested.

“They came up to me afterwards and said, you know what, if you can automate a contract for drop pipe connections, then you can also use it for delivering water or delivering diesel or delivering people or measuring services or whatever else you want,” Bruce said. “They said I should go for it.”

Since then, his Houston-based company, Data Gumbo, has emerged as a leader in the new industrial blockchain category. It’s seeking Series C investors, and in the past 12 months, its workforce has grown to 72 from 41. More than $1 billion in transactions flow through Data Gumbo’s systems, and more than 100 companies provide the company with data about the work they’re performing.

LONG LIFE: Cryptocurrencies are fads, but blockchains are forever

The use of blockchain — like a virtual ledger of the online exchange of information — is still a relatively new phenomenon. It was initiated as the public ledger for transactions made using the cryptocurrency bitcoin by an unknown person or persons working under the pseudonym Satoshi Nakamoto. Eventually, the blockchain expanded beyond cryptocurrencies, and its ledgers can be used in a variety of online applications, such as securely sharing medical or personal information and tracking logistics and real estate transactions.

Blockchains collect encrypted information or data into groups, which are known as blocks, according to financial knowledge website Investopedia. Each has a certain storage capacity, and once that capacity is reached, the block is closed and then linked with previously filled blocks. New information that flows onto the blockchain is compiled into a new block, then also linked to the chain. Those linked sets of information and data form the blockchain.

Gumbo’s recipe

Data Gumbo began using the blockchain to make payments between oil companies and their subcontractors easier.

Bruce said it can take 60 days for subcontractors to write up an invoice for work they did. Payment can take an additional 120 days, during which the oil companies and subcontractors often squabble over the quality and amount of work done, engendering mistrust.

That’s not a problem when using DataGumbo’s blockchain and smart contracts, Bruce said.

He described the system as like an Excel spreadsheet, helping to keep track of work being done. He jumped out of his seat and began to describe how it works while drawing boxes and lines on a whiteboard at Data Gumbo’s Spring Brancg headquarters to describe how it works.

The system automatically uploads data from meters and other data-collecting instruments in the field - everything from drill pipe measurements to connection times. Each of those measurements is encrypted and becomes a “block.” Data Gumbo’s system then runs the blocks, or encrypted data, through an algorithm that processes the terms of the contract. That creates what’s known as a “hash,” and if all the hashes match up, an automated payment is sent from the oil companies to the subcontractors.

If a subcontractor is able to make a one-minute improvement on connection times, for example, and can show it through data in Data Gumbo’s system, they can get an automatic $2,500 bonus or whatever figure the subcontractor and oil company agreed to, Bruce said. Instead of taking a cumulative 180 days to process that payment, it happens automatically within seconds.

ICONIC IMAGE: Houston Rockets legend Yao Ming gets in on the NFT game

“It locks the whole thing down so nobody can monkey with it. It creates a ledger for the one company and a ledger for the other company,” Bruce said. “Neither side can change it and use it. They put it in blockchain and they just create a trust and non trusted environments.”

It takes a vast amount of data and makes it palatable — inspiring the company’s name, said William Fox, chief product officer. He and Bruce were having a hard time thinking of a name when they were incorporating in September 2016. They wanted one that wasn’t exclusive to oil and gas but was also unique enough for folks to remember. Fox spat out the name Data Gumbo, and Bruce turned his head to stare at him.

“We just started bursting out laughing and it was available for a dollar on GoDaddy,” Fox said. “When people hear about us they say ‘Oh, that’s a really dumb name.’ And then six weeks later we see them again, and they say ‘I couldn't get your dumb name out of my head.’”

Other applications

While most of the company’s work in the beginning was energy focused, Bruce said, Data Gumbo is expanding into other industries such as salmon farming, accounting for carbon credits, insurance agreements, commercial real estate and shipping logistics.

“Is it a product or service like can be measured electronically, and can the payment mechanism being captured electronically and executed automatically?” Bruce said. “If the answer is yes, then you can use blockchain to solve.”

STEP BY STEP: Data Gumbo raises $4 million in Series B round

It also can track a company’s progress on environmental, social and governance — or ESG — practices and improvements. Investors have increasingly demanded that companies show how they are reducing their carbon footprints or investing in communities or incorporating more diversity among leadership positions.

Companies can have the system monitor information about emissions or fuel efficiency or hiring practices to create a ledger of the work being done, Bruce said. They can give auditors, board members or shareholders access to that ledger so they can track the progress and see if it aligns with goals they agreed to.

“The blockchain doesn't just provide automation of the contract execution today,” Bruce said. “It also provides an audit in perpetuity.”

He said the adaptability of the system, and the ease of using it, helped Data Gumbo grow to its current size. Bruce hopes the value of transactions flowing through the system will rise to $10 billion from $1 billion in the next 12 months and to grow its physical footprint beyond its headquarters in The Cannon business incubator and offices in Norway and London. It will need to expand its headquarters in The Cannon too, as Bruce aims to double the number of Data Gumbo workers from 72.

Even as the company grows, Bruce wants to maintain Data Gumbo’s ethos and work culture. He keeps a broom in his office as a reminder to “sweep the shed.” The term comes from his days as a rugby player in his native Isle of Man, where the leaders of the team clean up after themselves and their teammates.

“No task — nothing — is beneath the leaders or anyone else in the company,” he said. “That’s the way it is now, and that’s the way it will be going forward.”

shelby.webb@chron.com

Over time, crypto gaming has advanced from its static role of a bystander and plunged into the mainstream. After all, blockchain games have become the front-and-centre projects of several major enterprises in the crypto sphere, including Zynga. The globally leading American social game developer founded back in 2007 has a dedicated blockchain gaming division, just in time to ride on the unprecedented NFT wave that has swept the gaming industry recently.

Therefore, when the creative minds behind this super successful and widely popular gaming venture came up with Town Star – a first-of-its kind city-building game on the Gala blockchain – there was bound to be a lot of buzz and hullabaloo. Bringing to the table “farming with a competitive twist”, this blockchain gaming revolution is no less than a one-stop destination for the biggest prizes and play-to-earn rewards!

While players must “grow, gather and craft” their way to building the most efficient and productive town imaginable, here’s an overview of this Gala flagship game.

The Town Star NFT: Here’s What We Know

Built on the Gala blockchain, Town Star involves city building besides land and resource management, a first of its kind in the Play-to-Earn metaverse. Items as well as currency belonging to players are stored on the Gala blockchain, and these can be bought, sold, as well as traded for Gala and/or other cryptocurrencies with ease.

Town Star may not be the first playable game coming from Gala Games, but is certainly the first of its sort, with its unique play to earn farm building premise giving players complete ownership of marketable blockchain-backed items. Though the game also features traditional in-game items, these special marketable goods bring additional perks to the table, such as a gleaming chance to win daily TOWN rewards simply for using the items in your gameplay! The competitive agricultural game has a leaderboard to acknowledge the best players of the week, who are in for major prizes as a mark of their victory.

The decentralized network of Gala Games, which has been in the making for over 18 months with a host of talented developers on board, uses Ethereum blockchain technology. The free-to-play farming simulation comes with low-poly cartoonish graphics, and blockchain-based trading of resources on the pillars of transparency, security, and efficiency.

Getting into the Game

That Town Star will be taking on a similar path as Farmville was already expected, and yet it does so with a marked difference – players enjoy complete ownership whenever they buy or create NFTs in the form of items. When you start the game, you are provided with some free money to start working on your farm, convert it into a profitable business, and begin trading items with other players.

A bunch of Town Star items are available for purchase only using in-game currency, which should be earned and spent entirely within the game itself, having no real worth beyond the game. Put simply, this money is non-transferable. On the other hand, some items come in limited supply, can be owned by only one player at a time, and can be used in the game as well as beyond – these are the Town Star NFTs. You can easily cross your collection over to one of the many games within the Gala Games blockchain network or even use the official Opensea marketplace of Town Star for highly rewarding trades.

The official launch token for Town Star, called the Town Coin, is available on several top exchanges like OKEx, Bitrue, Uniswap (V3) as well as DODO. With a current price (at the time of writing) of the token at $0.720075 USD, it has an impressive 24-hour trading volume of $2,583,985 USD.

Town Star NFTs You Should Know AboutThe Bots

The game’s bots continue to enjoy a special place, with designers and programmers giving these assistant workers the identity they deserve for completing numerous in-game chores quicker and better than their human counterparts!

Most of these bot NFTs are available only in the secondary marketplace now, and include the extremely uncommon FarmBot, the Town Star Builder CraneBot, the assistant in moving and harvesting of common agricultural products called ElfBot, the SaltyBot dealing in transportation and harvesting of basic farming goods, Mr. Puddles and Buggy Mr. Puddles assisting in all water-related activities.

The Resource Stands

Offering steady supplies of specific crops and thus reducing the need for cultivation to an impressive extent, resource stands can make a huge difference to the gameplay when used wisely. The Wheat Stand, for instance, supplies passive units of wheat in variable quantities to surrounding windmills and feed mills, and comes in Standard, Rare, Epic, Legendary and Ancient typologies.

The Sugar Stand similarly offers passive sugarcane units while the rarest of rare Cotton Stand comes in the form of a tiny structure distributing passive cotton units.

Extra Storage

Going with a conventional, basic Silo can often prove to be harmful for players, as it leaves no room for control over their function or performance, and thus little influence of a builder over his town. This is where the Extra Storage NFTs come into play, including Wheat, Brine, Grape and Sugarcane storages. Each will only store the item it is designated for, though in variable quantities depending on the building’s rarity.

Fountains and Water Towers

It goes without saying that water is one of the most important resources for an agricultural town, such as the one you are building in Town Star. Therefore, the dedicated units offering passive water to your crops and water facilities play such an important role in the game. An added twist is that while these resources function just like ponds, they can be very easily removed and replaced as well.

The Alfa fountain is available in four distinct conventional rarities – OK, Good, Great and Majestic – and offers passive water in bigger volumes, making it suitable for watering large town squares and farms. The Water Tower functions just like the Alfa Fountain, but unlike the latter it can be purchased from the Town Star store. It is best suited for watering tiles.

Miscellaneous

There is also an Express Depot NFT which becomes available only when a user of the Town Star ecosystem upgrades their membership to Gala Gold. The possession of this NFT instantly opens doors to a range of bonuses, sneak peeks, and faster supplies. The Solar Panel NFTs work on a similar concept as Fountains and Water Towers, offering passive units of energy to adjacent squares, with the benefit of being conveniently removable and replaceable.

Mining Bonuses

With over 1000+ farm bots that can mine a token, both early birds and late entries can be sure of enjoying the Town Star gameplay to the fullest and developing customized farm and trade assets for exciting rewards. All you must do is either buy loot boxes and assemble various parts or purchase a pre-assembled miner at a higher price to enter the floor.

Registering on the Platform

Becoming a Town Star is easy – proceed to the official website here and go through in careful detail about the game information. Click on the “Try it FREE” button and create your account. You will get a unique link that you can share with your friends, and every new signup upgrading to Gala+ will earn you $5 worth of Bitcoin. Follow this up by filling in your details and you are good to go.

Creating Your Own Wallet

The first step to wallet creation is entering another password for encryption and 1st layer security – it is advisable to not use the same password for the game and wallet alike. The next step takes you to MEMORIAL WORDS, which we will highly recommend you write down on a piece of paper or store on a safe location. Once you enter these words when prompted and confirm, you are ready to enter the Town and start playing.

Starting the Game

With all formalities said and done, just hit on the PLAY NOW button, pick your location of choice on the world map before you, and join the Town Star to chat and learn from other players in the game.

What’s Ahead for the Town Star NFT?

The game already boasts of $2M cash prizes to top players so far, 700,000 unique towns created by Town Star’s player builders, and $10,000 weekly rewards available now for players worldwide. On these lines, 2022 seems set to be an exciting year for Town Star, in fact its most successful landmark so far, with bright prospects of a refreshing gameplay, new earning methods, as well as a host of new NFTs for gamers to bank upon.c.

If all this buzz has ignited your curious little brain cells and you feel eager to know more about NFTs, this is the perfect place to be! Starting right from how to buy NFTs to the best NFT stocks and NFT wallets, we have covered it all for inquisitive investors like you. Head over to expert answers or dive into the latest industry buzz and get to know NFTs and the crypto world in much better detail!

Eric DunnePRO INVESTOReditor

Eric is a content writer with experience in Fintech, AI, Cryptocurrency, and Blockchain technology. He is passionate about creating content that helps beginning investors learn to navigate the markets.

View all posts by Eric Dunne Virtual Reality Land gained a lot of popularity recentlyEric Dunne&bulletUpdated: Updated:&bulletUpdated:

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Sports betting in Nebraska might not be regulated, but that hasn’t stopped many keen gamblers in the state from betting on a variety of sports. Nor has it prevented several top-quality offshore sportsbooks, including names like MyBookie and BetOnline, from offering their platform to those in the Cornhusker State.

On this page, we’ll be looking at Nebraska sports betting in detail, informing you of everything you need to know – including where to bet, how to bet, and what the laws really are about Nebraska gambling. So, if you’re in Nebraska and fancy a quick bet, make sure you read this page before you start!

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You’ll find plenty of sports betting sites available in Nebraska, so picking the best can be a tough task. That’s where we can help, as we’ve listed the top 10 places for sports betting in Nebraska below.

 – Number one overall site for sports betting in NebraskaMyBookie – Offers a huge array of basketball marketsBovada – Sportsbook with the widest range of markets in NEBetUS – Best sportsbook for bonuses and promotionsGTbets – Top Nebraska gambling site for horse racing bettingXBet – Great selection of MLB betting optionsSportsbetting.ag – Fantastic selection of football marketsIntertops – Regularly offers some of the most generous oddsBetUSR – Great sportsbook for WNBA bettingBetNow – Exceptionally fast withdrawals usually offeredBest Nebraska Sportsbooks Reviewed1. BetOnline – Offers a huge array of basketball markets

BetOnline is our top choice for people looking to place bets in Nebraska. It’s a site that offers fans of sports betting almost everything they could ask for. Their selection of markets is absolutely giant, offering everything from NBA betting to more niche markets, such as betting on cricket and rugby. What’s more, the odds are usually great, meaning you get more bang for your buck.

You’ll also find yourself receiving a top welcome bonus at BetOnline, which can add up to $1,000 to your first deposit. You’ll also find standard and cryptocurrency reload bonuses, plus fans of casino games can also claim bonuses for that part of the site too. Contests are also regularly run, which are huge fun and offer some big prizes. Some of the contests are even free to enter!

The mobile experience offered by BetOnline also must be mentioned, as it’s superb. Anyone with a modern smartphone or tablet can play with ease, still able to bet on a vast array of different markets.

Pros:

Superb mobile websiteHuge welcome bonus worth up to $1,000Fantastic coverage of NBAGreat live betting suite with many marketsLarge selection of international horse racing markets

Cons:

Small selection of eSports betting options JOIN BETONLINE NOW 2. MyBookie – Top site for sports betting in Nebraska

Second on our list of the top online sports betting Nebraska sites is MyBookie, and this is the place to go if you care about having a great selection of basketball markets. Every NBA encounter is covered in loads of depth, plus the NBA live betting is some of the best you’ll find anywhere. You’ll get a great deal too, as the NBA odds – as well as the odds on most other sports – are generally more than fair.

You’ll also find that this site offers a mighty welcome bonus, allowing new players to double their first deposit, up to a maximum value of $1,000. Used your first deposit bonus? Don’t worry, as there are also plenty more promotions, including a 25% reload bonus worth up to $500. Tell your friends about the sportsbook too, as they offer a ginormous 250% referral bonus.

Overall, we can hardly fault what’s offered by MyBookie, meaning that we’re forced to declare it as one of the best place to bet on sports in the entire state. You should check out what it has to offer today!

Pros:

Range of banking options, including cryptocurrencyGiant range of betting markets, including many NBA optionsGreat place for live bettingSuperb selection of bonuses, including huge welcome bonusAlso has a fantastic online casino

Cons:

Non-crypto withdrawals have high minimum JOIN MYBOOKIE NOW 3. Bovada – Sportsbook with the widest range of markets in NE

Bovada is the best-known of all the sports betting sites on this list. It was founded in 2011, but its roots stretch back to Bodog, which has been around since 1997. There’s no denying that there was some controversy that surrounded the company in the past, but this has now been resolved and Bovada is a site Nebraska gambling fans can trust entirely.

This is a sportsbook perfect for those who enjoy betting on a variety of sports, as the range they offer is amazing. What’s more, most of the sports are covered in great deal. Live betting is also a strong point of Bovada, with the NBA live betting being a particular highlight.

In addition to the great selection of markets, Bovada also has a fantastic range of bonuses for players to claim, including a welcome bonus that can be worth $250. There are also plenty of bonuses available for those depositing using cryptocurrency. You’ll also find that Bovada has a great mobile presence, plus it also has a superb casino.

Pros:

Great selection of Bitcoin bonuses$250 welcome bonusHuge selection of betting marketsFantastic live betting suiteCasino games and poker also offered

Cons:

Controversial history, although now completely trustworthyCredit card deposits incur high fees JOIN BOVADA NOW 4. BetUS – Best sportsbook for bonuses and promotions

If you’re a fan of great bonuses and promotions, you should definitely check out BetUS. This is a site with multiple bonuses on offer, including a 125% sign-up bonus and an amazing 200% crypto bonus. There are also reload bonuses available, meaning that you’ll be given something extra every time you make a deposit at this site.

Don’t think that BetUS is just about bonuses, as it also manages to deliver where it matters – the markets. There are markets for all major sports, including basketball, football and baseball, and most bets you place will come complete with fair odds. Some are even industry leading! This is the case for both standard and live betting markets.

BetUS is also a Nebraska sports betting site perfect for mobile players, as it has a mobile site perfectly optimized to work with all modern mobile devices, including those running on iOS and Android. This means you’ll receive a fantastic betting experience wherever you are.

Pros:

Great mobile sports betting websiteHuge range of markets, including on basketball and football125% sign up bonus for new players200% crypto bonus also availableIntuitive live betting suite

Cons:

No mobile app offeredHigh minimum withdrawal for non-crypto methods JOIN BETUS NOW 5. GTbets – Top Nebraska gambling site for horse racing betting

GTbets certainly offers a great selection of basketball betting options, but it’s strongest in another area: horse racing. Visitors to the GTbets website will find that there’s a huge range of horse racing betting options open to them, on races from around the world. They also offer a 15% monthly rebate on horse racing losses, making it even more attractive to fans of betting on horses.

GTbets also offers a varied selection of betting options alongside horse racing, including fantastic coverage of NFL and NBA. Live betting at GTbets is also superb, offering a simple way to bet on a whole host of different events. Live betting, along with standard betting, can be done via a desktop or using any modern smartphone or tablet. Newcomers can enjoy a 100% first deposit bonus of up to $500.

It should also be mentioned that GTbets also offers a superb online casino, which has a huge variety of games, including many slots. This makes it the perfect place to sign up for sports betting fans who also like to occasionally play online casino games.

Pros:

Great choice for horse racing betting fansHigh quality live betting suiteWelcome package worth up to $75015% rebate on net monthly horse racing betting lossesSuperb mobile website

Cons:

High minimum deposits for most methods$40 fee for bank wire withdrawals JOIN GTBETS NOW Nebraska Betting Sites Comparison

Do you want to quickly find the best sites for sports betting in Nebraska? If so, take a look through the table below, which quickly summarizes many of the most important aspects of each g>Promo CodeAvailable MarketsLive StreamingPayment MethodsMyBookie100% deposit match up to $1,000MYB100NFL, NBA, MLB, NHL, college sports, MMA, boxing, motor sports, golf, tennis, soccer, cricket, cycling, entertainment, eSports, futsal, horse racing, rugby, table tennis, US politics, volleyballYesVISA, MasterCard, Person 2 Person, Bitcoin, Litecoin, Bitcoin Cash, Ethereum, RippleBetOnline50% deposit match up to $1,000BOL1000NFL, NBA, MLB, NHL, college sports, boxing, golf, martial arts, soccer, tennis, horse racing, auto racing, cricket, darts, entertainment, financials, handball, lottery, politics, rugby league, rugby union, snooker, table tennisNoVISA, MasterCard, Bitcoin, Ethereum, Person to Person, money order, bank wire transferBovada50% deposit match up to $250Not requiredNFL, NBA, MLB, NHL, college sports, Aussie rules, beach volleyball, boxing, cricket, cycling, darts, entertainment, eSports, futsal, golf, handball, horse racing, motor sports, politics, rugby league, rugby union, snooker, soccer, table tennis, UFC/MMA, virtual sports, volleyball, winter sportsYesVISA, MasterCard, American Express, Bitcoin, Litecoin, Bitcoin Cash, Zelle, MatchPay, voucherBetUS125% match bonus up to $3,125JOIN125NFL, NBA, MLB, NHL, college sports, tennis, golf, soccer, horse racing, martial arts, boxing, table tennis, NASCAR, rugby, motor sports, cricket, cycling, politics, entertainment, volleyball, surfing, handball, novelty, snooker, eSportsNoVISA, MasterCard, American Express, Bitcoin, Bitcoin Cash, Litecoin, Ethereum, cash transfer, bank wire transferGTbets100% match bonus up to $500Not requiredNFL, NBA, MLB, NHL, CFL, auto racing, cricket, darts, eSports, golf, handball, horse racing, MMA/boxing, politics, rugby, soccer, table tennis, tennis, volleyballNoVISA, MasterCard, American Express, QuickCash, gift card, Bitcoin, Bitcoin Cash, Litecoin, XRP, bank wire transferXBet100% match bonus up to $500XB100NFL, NBA, MLB, NHL, college sports, golf, tennis, MMA, boxing, motor sports, soccer, cricket, cycling, entertainment, eSports, futsal, horse racing, rugby, table tennis, US politicsNoVISA, MasterCard, Person 2 Person, Bitcoin, Litecoin, Bitcoin CashSportsbetting.ag50% match bonus up to $1,000SB1000NFL, NBA, MLB, NHL, college sports, boxing, golf, martial arts, soccer, tennis, horse racing, Aussie rules, auto racing, cricket, darts, entertainment, cycling, financials, handball, lottery, poker, politics, rugby league, rugby union, snooker, table tennis, volleyball, wrestling, lacrosseNoVISA, MasterCard, Discover, American Express, ecoPayz, Person to Person, Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Stellar, USD Coin, money order, bank wire transfer, checkIntertops50% match bonus up to $200ROOKIE50NFL, NBA, MLB, NHL, college sports, tennis, alpine skiing, biathlon, boxing/UFC, cricket, darts, eSports, golf, handball, horse racing, motor sports, non sporting, rugby, snooker, soccer, stock market, table tennis, volleyballNoVISA, MasterCard, Discover, Diners Club International, Skrill, Neteller, Skrill 1-Tap, ecoPayz, Paysafecard, eZeeWallet, Paysafecard, Bitcoin, Bitcoin Cash, Litecoin, MoneyGlobalBetUSR20% match bonus up to $150Not requiredNFL, NBA, WNBA, MLB, NHL, college sports, CFL, horse racing, MMA, boxing, soccer, golf, entertainment, tennis, US politics, motor sports, futsal, table tennis, eSports, cricket, cycling, wrestling, rugbyNoVISA, MasterCard, Bitcoin, Litecoin, MoneyGram, bank wire transferBetNow100% match bonus up to $500BN100NFL, NBA, MLB, NHL, CFL, college sports, auto racing, soccer, golf, tennis, cricket, Aussie rules, MMA, rugby, table tennis, volleyball, eSportsNoVISA, MasterCard, American Express, Person 2 Person, Bitcoin, Bitcoin CashIs Sports Betting Legal in Nebraska?

The subject of sports betting legality is a fluid one in the US, with many states having already introduced legal sports betting, or being in the process of doing so. Nebraska is in the latter category, as Gov. Pete Ricketts has signed a sports betting bill into law that legalizes betting at parimutuel racetracks. However, there’s not currently any concrete information on when sports betting will get underway in the state.

When it comes to online sports betting in Nebraska, the picture is somewhat clearer. No laws have been passed legalizing online betting in the state, therefore, in theory, those within state lines shouldn’t be betting online. However, in reality, many people in Nebraska bet online every day, simply by heading to one of the many offshore betting sites accepting players from Nebraska – sites such as the 10 we’ve listed on this page.

Timeline of Sports Betting in Nebraska

. The US Supreme Court votes to overrule the Professional and Amateur Sports Protection Act (PASPA), which was a federal ban on nearly all forms of gambling in most parts of the United States.November 3, 2020. Voters choose to allow games of chance at racetracks in the state.May 21, 2021. A bill designed to legalize games of chance, including sports betting, at racetracks, is approved by state legislators.June 1, 2021. Pete Ricketts signs the legislation, despite previously expressing his opposition to gambling.Gambling Tax in Nebraska

If you gamble in Nebraska and manage to win, you should report your winnings to the IRS. However, you will only have to pay federal tax on anything you win over $600. In Nebraska, the payer will withhold 24% of the winnings and send them to the government. You might then receive some of this money back in the form of a rebate, depending on your annual earnings.

You will also be required to pay state income tax. The payer will withhold a flat rate of 5% of winnings. As with federal taxes, you might receive a rebate at the end of the year, depending on how much your annual earnings were.

Quite simply, you can bet on all major sports after you’ve signed up with one of the offshore sportsbooks we’ve recommended. This means you’ll be able to place a whole variety of bets on all NBA games, as well as many bets on college basketball and WNBA encounters. Football is covered in just as much detail, plus baseball and hockey are also widely covered. Soccer betting is also offered at all sites, allowing you to bet on markets from around the world.

Don’t just think it’s the major sports represented at Nebraska sports betting sites, as they also offer markets on many other sports too. You’ll be able to bet on MMA, boxing, tennis, golf, motor racing, cricket, rugby and much more at the best places for sports betting in Nebraska. You’ll also be able to bet on many of the sports live, which is discussed in more detail further down this page.

eSports betting is something you’ll be able to experience at most offshore sports betting sites available in Nebraska. As with most other states, betting on eSports in Nebraska is becoming increasingly popular, especially with younger gamblers. Some of the eSports you’ll regularly be able to bet on include DOTA 2, League of Legends and CS:GO. If you’re looking to bet on eSports in Nebraska, we’d recommend checking out BetOnline, which has a section purely for eSports betting.

All top Nebraska gambling sites will offer a range of different betting options, ensuring everyone can find something that suits them. Some of these betting options are exceptionally simple, while others take a little more explaining. You can find out about six of the most popular bet types in Nebraska below.

. The simplest bet by far, as you just have to bet on which team you think will win. So, if you pick the Nets to beat the Lakers and they do, you’ll win a cash prize. This is the bet new gamblers should begin with.Spread. This is like a moneyline bet, but one team is effectively given a head start. So, you could find a market offering the Lakers at -4.5 and the Timberwolves at +4.5. If you bet on the Lakers to win, they will have to win by five points or more for your bet to be successful. Bet on the Timberwolves and your bet will be a winner even if they lose by four points or less.Over/Under. In a bet of this type, you’ll be betting on whether something will be over or under a specific amount. For example, the sportsbook could say there will be 228.5 points in a game. You can then bet on whether the actual total will be over or under this amount. Sportsbooks generally work it so that the odds for over and under are roughly the same.Parlay. A parlay bet is a bet containing two or more individual selections. So, for example, you might pick the Jazz to beat the Thunder, and the Kings to beat the Trail Blazers. Your bet will be a winner only if both the Jazz and Kings win – if only one wins, you won’t receive any winnings at all.Future. This is a bet that won’t be settled for a considerable amount of time. So, for example, you could bet on Giannis Antetokounmpo being the season MVP before the season has even gotten underway.Prop. A prop bet is a bet on something that doesn’t directly affect which team wins. For example, you could bet on Rudy Gobert getting more than nine rebounds in a game, or on Bradley Beale scoring more than 23 points in a game.Bonuses at Nebraska Sportsbooks

There’s one thing that all the best Nebraska sportsbooks share, and it’s this: they all offer bonuses and promotions to players. These are a vital part of the online gambling world, as bonuses are an effective way of attracting new customers. This is why some sportsbooks offer crazily large bonuses to their players. Below, you’ll be able to find out about the three most popular bonus types found at Nebraska sports betting sites.

The most popular type of bonus found at Nebraska gambling sites is the matched deposit bonus. These add a certain percentage to the money you deposit. So, for example, if you deposit $100 and receive a 150% deposit bonus, you’d receive another $150 to play with. These bonuses can sometimes be huge, as sportsbooks try to out-do each other and attract new players.

Matched deposit bonuses generally have the lowest wagering requirements. The sportsbook doesn’t mind giving you a better chance of being able to withdraw money, as they know that the majority of people who deposit will lose. Matched bonuses are also usually the largest, but you will have to risk your own money in order to receive one.

You’ll find that all the sites we’ve listed on this page offer matched deposit bonuses to players. However, the largest of them is the welcome package offered by BetUS, which can be worth a huge $3,125!

Next up, we have free bets – another very popular type of bonus found at Nebraska gambling sites. These are exactly as they sound, as they allow you to place a bet at a sportsbook for free. While they can also be no deposit bonuses, they are more commonly offered to those who place a losing bet. So, they often still require an initial outlay by the player.

As with most bonuses, free bets will usually come with plenty of terms and conditions. For example, any money you win from a free bet can’t usually be withdrawn straight away. Instead, you’ll have to meet wagering requirements before a withdrawal is allowed. Some free bets will also have limits to the amount of money that can be won using them.

You’ll find free bets at many of the sites offering sports betting in Nebraska. A good example is the free bet worth $25 given away by Sportsbetting.ag to players whose first bet on the live betting platform is a losing one.

The last bonus type to mention is the no deposit bet. This is given without the player ever needing to make a deposit at the site, and can take many forms, including bonus money or a free bet. As you might imagine, offering a no deposit bet is a fantastic way to entice people into signing up with a sportsbook.

You’ll generally find that the terms and conditions attached to no deposit bets make it very difficult to actually win money – although there are some players who manage to. If it wasn’t made tough, then sportsbooks would lose huge amounts of money from them.

You won’t find any true no deposit bets at the Nebraska sports betting sites we recommend, but you will find some offering free bets, which are very romo CodeMinimum OddsExpiry DateMyBookie100% deposit match up to $1,000MYB100Not statedNot statedBetOnline50% deposit match up to $1,000BOL1000Not stated30 daysBovada50% deposit match up to $250Not requiredNot statedNot statedBetUS125% match bonus up to $3,125JOIN125Not stated14 daysGTbets100% match bonus up to $500Not required1.34Not statedXBet100% match bonus up to $500XB100Not statedNot statedSportsbetting.ag50% match bonus up to $1,000SB1000Not stated30 daysIntertops50% match bonus up to $200ROOKIE501.5Not statedBetUSR20% match bonus up to $150Not requiredNot statedNot statedBetNow100% match bonus up to $500BN100Not statedNot statedDeposit & Withdrawal Methods for Nebraska Betting

Payment options might not be the most interesting of topics, but you must consider them before signing up with a sports betting site. If you don’t, you risk finding yourself somewhere that doesn’t allow you to deposit and withdraw using your preferred method. Luckily, most sports betting sites in Nebraska offer a range of banking options for you to choose from, including credit card, e-wallets and cryptocurrency.

Take a look at the table below to find out about the payment methods offered by the Nebraska sports betting sites we recommend to our readers.

MyBookieVISA, MasterCard, Person 2 Person, Bitcoin, Litecoin, Bitcoin Cash, Ethereum, Ripple$20$2548 hoursBetOnlineVISA, MasterCard, Bitcoin, Ethereum, Person to Person, money order, bank wire transfer$20$2048 hoursBovadaVISA, MasterCard, American Express, Bitcoin, Litecoin, Bitcoin Cash, Zelle, MatchPay, voucher$10$1024 hoursBetUSVISA, MasterCard, American Express, Bitcoin, Bitcoin Cash, Litecoin, Ethereum, cash transfer, bank wire transfer$10$5024 hoursGTbetsVISA, MasterCard, American Express, QuickCash, gift card, Bitcoin, Bitcoin Cash, Litecoin, XRP, bank wire transfer$15$10048 hoursXBetVISA, MasterCard, Person 2 Person, Bitcoin, Litecoin, Bitcoin Cash$20$2548 hoursSportsbetting.agVISA, MasterCard, Discover, American Express, ecoPayz, Person to Person, Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Stellar, USD Coin, money order, bank wire transfer, check$20$2024 hoursIntertopsVISA, MasterCard, Discover, Diners Club International, Skrill, Neteller, Skrill 1-Tap, ecoPayz, Paysafecard, eZeeWallet, Paysafecard, Bitcoin, Bitcoin Cash, Litecoin, MoneyGlobal$25$2548 hoursBetUSRVISA, MasterCard, Bitcoin, Litecoin, MoneyGram, bank wire transfer$100$10048 hoursBetNowVISA, MasterCard, American Express, Person 2 Person, Bitcoin, Bitcoin Cash$10$524 hoursNebraska Mobile Betting Apps

All the betting sites we’ve recommended on this page are mobile optimized, meaning that you can access them via a mobile browser. Some also have mobile apps for you to download, and you’ll be able to find them at The App Store and/or Google Play. The apps should be free to download – never download a sports betting app you need to pay for, as it won’t be from a reputable sports betting website.

Betting apps are preferred by many mobile gamblers as they offer the easiest and quickest way to place bets – just one click and you’ll be at the sportsbook. Mobile apps from the top sportsbooks offer the same markets as their desktop sportsbooks, plus they should also offer the same odds. Apps will also allow you to bet live, meaning it’s possible to be at a sports game and bet on it at the same time!

It used to be the case that you could only bet before a game or place basic bets while the game was being played. However, nowadays you can bet live on all manner of different markets, thanks to the live betting platforms offered by most of the top online sportsbooks – including all those we’ve recommended to those looking for the top sports betting sites in Nebraska.

Live betting doesn’t just allow you to bet on the moneyline. You’ll also be able to bet on many other aspects too, from the margin of victory to how many points a team will score. The odds will change regularly to reflect the state of the game, so you’ll need to time your bet perfectly in order to get the best possible odds. Live betting is the perfect choice for those who understand their chosen sport exceptionally well, as they can use their knowledge to correctly predict what will happen next.

Some online sportsbooks in Nebraska also give you the chance to watch sport live on their sites. You won’t get to watch major NBA or NFL games, but lower profile sporting match-ups, often from abroad, are regularly shown. You can combine watching the live stream with placing live bets to create an exceptionally exciting sports betting experience.

At Basketball Insiders, we aim to bring you the most important NBA news and rumors, but we also do something else very important: let you know about the best places to bet on basketball, as well as loads of other sports too. We take a long time preparing each sportsbook review we create, taking into account many vital factors to ensure you get the best information possible. The most important things we look at are described below

The range of markets on offer is hugely important – if a site doesn’t offer enough, we won’t recommend it to you. It’s that simple. As you might expect, we’ll look at the range of basketball betting options first, before then taking a look at the betting options for other sports, including NFL, MLB and NHL. We won’t just look at the markets, as we’ll also take a long look at the odds available, to make sure you only sign up with sites that give you fair returns on your winning bets.

Bonuses are often the only reason why someone decides to sign up with a sportsbook. While we think that there are other more important factors to consider, we do agree that bonuses are key, so we look at them extremely closely. We won’t just tell you about the size, but also about the terms and conditions, as these can make or break a bonus.

As we’ve already mentioned on this page, payment methods aren’t very interesting. However, you need to know what options are offered at a sportsbook, so we tell you about them in every review. We’ll also let you know how long deposits and withdrawals take, as well as any minimum or maximum transaction sizes and whether there are any fees you’ll be required to pay.

Every top online betting site offers live betting to their players, but the quality of the live betting experience can vary. We look at the live betting on offer, from the range of bets to the ease-of-use of the platform, to ensure you only bet live at the best sites. We’ll also let you know whether the site in question offers live streaming, and if it does, we’ll tell you about the different sports often streamed there.

Online sports betting is not legal in Nebraska, therefore there’s no organization around to license and regulate sportsbooks in the state. However, we still want to see that a sportsbook is regulated somewhere, to ensure they’re being monitored. We also want to see that all sportsbooks take appropriate steps to protect their players, by offering such things as SSL encryption for all transactions. If we even have a slight concern about the security of an online sportsbook, we won’t recommend it to you.

Currently, there are no Nebraska casinos with sports betting. However, land-based sports betting has recently been legalized in Nebraska, which will allow sports betting to take place at racetracks. The new laws have also made it legal for casinos to operate at racetracks too, so you’ll be able to place bets and play casino games in the same location.

While there has recently been a law passed to legalize casinos in the state, it doesn’t include online casinos. So, at the moment, there are no legal online casinos in Nebraska and this situation probably won’t change any time soon.

However, there are plenty of offshore casinos that accept players from Nebraska. These allow Nebraskans to play a whole range of casino games, including slots, roulette and blackjack. You’ll find that all the offshore sportsbooks listed on this page also have great online casinos too, so you’ll be able to bet on sports and play casino games at the same site.

Daily fantasy sports (DFS) is not technically legal in Nebraska, but that’s not stopped many of the most recognizable names in the industry, such as DraftKings and FanDuel, from accepting players in the state. The sites offering DFS in Nebraska offer NFL, NBA and more to their many players. Despite not being legal in Nebraska, there is no reason to be worried about prosecution if you decide to play.

Horse racing betting was made legal at licensed parimutuel racing tracks in 1934. Another law was passed in 1988, which made it legal for local tracks to broadcast and take bets on races taking place outside Nebraska. If you want to bet on horse racing online, you’ll be able to do so at the sportsbooks we’ve listed on this page.

At first, you might be disappointed to hear that online sports betting in Nebraska isn’t legal. However, there’s really no need to get down, as there are plenty of offshore sportsbooks that accept players from Nebraska, meaning everyone in the Cornhusker State has the opportunity to bet online on their favorite sports and teams. What’s more, these sportsbooks all offer welcome bonuses, meaning you’ll get a nice boost when you make your first deposit.

When it comes to online sports gambling Nebraska has many great places to play. We’ve listed the top 10 sports betting sites in Nebraska further up this page, with our number one place to play being MyBookie. Why not head over there today to see if they’re the perfect online sportsbook for you?

$1000 Welcome BonusClaim NowFreeBets ReviewsFAQs

Online sports betting is not legal in Nebraska. However, sports betting at racetracks has recently been legalized. Those looking to bet online will still find that they can do so, as there are plenty of offshore sportsbooks available to them, including those listed further up this page.

In Nebraska, you must be 19 or older in order to participate in any of the current legal gambling options. However, offshore sports betting sites available to those in Nebraska only require players to be 18 or over to bet.

Currently, online sports betting is not legal, so there is no organization overseeing things. However, online sites are generally regulated by an official organization somewhere in the world. This means that there’s someone watching how they operate and ensuring they treat players fairly.

Mobile sports betting is not legal in Nebraska, but this doesn’t mean that you can’t bet in the state using a mobile device. All the offshore sportsbooks mentioned on this page have mobile platforms, which can be accessed using all modern smartphones and tablets.

It will soon be possible to bet on sports at pari-mutuel racetracks in the state. However, the only way to currently gamble on sports in Nebraska is via offshore sportsbooks. You can find our list of the top Nebraska sportsbooks on this page.

Jamie Wright

Jamie is a professional copywriter specializing in online gambling, including sports betting and casino. He's also a huge sports fan, happy watching anything from March Madness to obscure lower league English soccer. Other interests include movies, food, and travel.

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Robinhood Markets stock (NASDAQ: HOOD) has declined by almost 31% over the last month, considerably underperforming the S&P 500 which remains up by about 2.4% over the same period. There are a lot of factors weighing Robinhood stock down. Firstly, it’s looking increasingly obvious that the boom in so-called “meme” stocks and speculative cryptocurrencies such as Dogecoin is cooling off. This was visible in Robinhood’s Q3 earnings as it actually lost customers after posting record growth in the first half of the year. Moreover, the Federal Reserve is likely to raise interest rates sooner than expected to fight inflation, and this could prove to be a net negative for the stock markets and trading activity. Separately, the SEC has also been investigating Robinhood’s payment for order flow revenue model, which entails selling the order flow of its customers to market makers, and this has created a big overhang over the stock as transaction revenues accounted for about 78% of Robinhood’s revenue in Q3.

So is Robinhood stock a buy following the recent sell-off? We think it is. While the concerns regarding the company’s near-term outlook are legitimate, we think this is more than priced into the stock, considering that it has corrected by over 75% from its all-time highs seen in August 2021. Robinhood has proven to be agile and innovative and has a good understanding of young retail investors and this should help it adapt even as the market cycle eventually turns, or if it faces setbacks to its revenue model. The company has also built a sizable customer base with more than 22 million funded accounts and this could allow it to cross-sell other financial products and services. Robinhood’s cryptocurrency push is also likely to be a meaningful driver of growth going forward, as cryptocurrency brokering is typically very lucrative (rival Coinbase posted net margins of 33% last quarter). Robinhood had been adding new features to its crypto service and is likely to launch a crypto wallet feature this month that will enable users to send and receive cryptos. Robinhood’s stock now trades at about $15.60 per share, trading at a little over 6x our projected 2022 revenues for the company, a cheap valuation, in our view. We value the stock at about $25 per share. See our analysis on Robinhood Markets Valuation: Is HOOD Stock Expensive Or Cheap? for more details on Robinhood Markets stock’s valuation and comparison with peers. For more information on Robinhood’s business model and revenue trends, check out our dash on Robinhood Markets Revenue: How HOOD Makes Money

Below you’ll find our previous coverage of Robinhood stock where you can track our view over time.

[10/12/2021] What’s Happening With Robinhood Stock?

Robinhood Markets (NASDAQ:HOOD) is best known as a zero-commission brokerage app that Millennials turned to, to cash in on the soaring Covid-19 stock market and to ride the meme stock wave. However, Robinhood stock which was listed in late July hasn’t really delivered for investors since its listing this Summer. While Robinhood was listed at a price of about $38 per share, it currently trades just about $42 per share, after briefly rising to as much as $70 per share. So what’s holding Robinhood stock back? We think there are a couple of factors.

Retail traders, who powered Robinhood’s growth, are likely to be less interested in stock trading, as they headed back to the office and seek entertainment outdoors, following the Covid-19 lockdowns.  For perspective, Robinhood’s app downloads, which can be viewed as a rough estimate of new account openings, declined 78% over Q3 2021, versus Q2, per data from Apptopia. Other brokerages and crypto trading platforms have seen much smaller declines, in comparison.

There also appears to be some regulatory concerns for Robinhood. The company’s core equity and options business is facing some scrutiny from the SEC over its revenue model which entails selling the order flow of its customers to market makers. The company also recently warned that rising regulatory scrutiny of cryptocurrencies could pose a risk to its business. For perspective, payment for order flow accounted for about 38% of revenue in Q2 2021 while cryptocurrencies accounted for 41% of total revenue.

Robinhood stock has a relatively limited float currently and could be seeing some pressure in anticipation of lockup expiries and plans of large shareholders to liquidate their shares. For example, in early August the company said in an SEC filing that some existing investors who bought into the company via private placement plan to sell close to 97.9 million shares over time.

We value Robinhood stock at about $39 per share, slightly below the current market price. See our analysis on Robinhood Valuation: Is HOOD Stock Expensive Or Cheap? for more details on Robinhood Stock’s valuation and comparison with peers.

Think cryptocurrency could disrupt the banking industry? Looking for upside from Bitcoin adoption, without buying into the cryptocurrency itself? You can find more about our theme on Cryptocurrency Stocks

[9/21/2021] Robinhood Is Pushing Further Into Crypto Business. How Will This Impact Its Stock?

Robinhood Markets (NASDAQ:HOOD), best known as a zero-commission stock brokerage, has been increasingly focusing on improving its cryptocurrency offerings. Bloomberg reports that Robinhood is testing new cryptocurrency wallet and transfer features for its app. While customers can already buy and sell crypto assets such as Ethereum and Bitcoin on the Robinhood platform, the wallet feature would enable users to store and manage all their virtual currencies in one place, and also use them without having to convert them to dollars. This has been a much sought-after feature and could enable the company to better compete with the big crypto platforms such as Coinbase. Separately, last week, the company said that it would allow users to set up recurring investments in crypto assets, essentially setting a specific amount to be invested on a periodic basis, automatically.

Robinhood’s interest in crypto is understandable. Over Q2 2021, cryptocurrency accounted for over 51% of the company’s total transaction revenues, eclipsing its core options and equity trading businesses. In fact, over Q2 customers appeared to be signing up on Robinhood primarily for its crypto offerings, with more new customers placing their first trade in cryptocurrencies rather than equities. The increasing crypto exposure should also help de-risk Robinhood’s revenue streams to an extent, as its core equity and options business faces mounting scrutiny from the SEC over its payment for order flow model. The SEC doesn’t really control the crypto market, on the other hand. That said, the crypto market is cyclical and Robinhood’s revenues could be even more vulnerable in a downturn, given its focus on retail traders unlike platforms such as Coinbase who derive an increasing portion of sales from institutions.

We value Robinhood stock at about $39 per share, roughly in line with the current market price. See our analysis on Robinhood Valuation: Is HOOD Stock Expensive Or Cheap? for more details on Robinhood Stock’s valuation and comparison with peers.

[9/7/2021] What’s Happening With Robinhood Stock?

Although Robinhood Markets (NASDAQ:HOOD) is best known as a zero-commission stock brokerage that’s popular with millennials and first-time traders, the company actually has a very fast-growing cryptocurrency business. Over the most recent quarter, cryptocurrency accounted for over 51% of the company’s total transaction revenues, eclipsing its core options and equity trading businesses.  In fact, in Q2 customers appear to be signing up on Robinhood primarily for its crypto offerings, with more new customers placing their first trade in cryptocurrencies rather than equities. Over 60% of Robinhood’s cumulative funded accounts traded in crypto during Q2 2021. Crypto-related revenue streams surged from a mere $5 million in Q2 2020 to almost $233 million in Q2 2021. Although this is behind the likes of Coinbase, which posted about $2 billion in Q2 sales, Robinhood’s crypto growth is still noteworthy.

Robinhood offers free trades for cryptocurrency, making money by selling the order flow of its customers to market makers, much like it does for options and equity. However, unlike the equity and options payment for order flow businesses which has come under scrutiny, the regulatory risks are probably lower for the crypto business, as the SEC doesn’t really control the crypto market. That being said, we don’t think that Robinhood can count on its crypto business to drive consistent growth. The cryptocurrency market is extremely volatile and is also subject to multi-year cycles (usually two to four years) and engagement could quickly fall off in a bear market. Although this is a risk that all crypto brokers face, the impact on Robinhood could be more pronounced as the company largely caters to first-time investors who could pull out as markets decline. In comparison, rival Coinbase derived roughly two-third of its crypto trading volumes over its most recent quarter from institutional customers, who are less likely to scale back.

We value Robinhood stock at about $39 per share, indicating a downside of about 13% from the current market price. See our analysis on Robinhood Valuation: Is HOOD Stock Expensive Or Cheap? for more details on Robinhood Stock’s valuation and comparison with peers.

[9/3/2021] What’s Happening With Robinhood Stock?

Robinhood stock (NASDAQ: HOOD) declined by almost 5% over the last week (five trading days), compared to the S&P 500 which was up by over 1% in the same period. There are two key factors driving the recent decline.

Firstly, the Securities and Exchange Commission Chairman Gary Gensler has indicated in an interview with Barron’s that the agency was considering banning the payments for order flow (PFOF) model which subsidizes the zero-commission brokerage model that Robinhood uses. The model is controversial, as it entails selling the order flow of Robinhood’s retail customers to market makers and high-frequency trading firms. Although PFOF has more or less become a standard practice in the brokerage industry, a ban would disproportionately impact Robinhood, which derived about half of its transaction revenues over Q1 from stocks and options, compared to other players who are more focused on interest-related revenues and other services.

Secondly, more competition also appears to be on the horizon, with payments major PayPal apparently updating its app to enable stock trading by customers. PayPal could pose a legitimate threat to Robinhood for a couple of reasons. PayPal has over 400 million accounts, most of which are linked with users’ bank accounts, compared to just over 22 million accounts for Robinhood, allowing it to target a large pool of users who likely already have its app installed. Moreover, PayPay is likely looking to use its stock trading features as a means of driving engagement to its app, so that it can sell its payments and other financial services. This could make it less reliant on trading revenues, giving it an edge over Robinhood.

We value Robinhood stock at about $39 per share, indicating a downside of about 13% from the current market price. See our analysis on Robinhood Valuation: Is HOOD Stock Expensive Or Cheap? for more details on Robinhood Stock’s valuation and comparison with peers.

[8/17/2021] Robinhood Stock Continues To Slide. Time To Get In?

Robinhood Markets (NASDAQ:HOOD), the zero-commission online brokerage popular among millennials, has seen its stock price decline by about 16% over the last week (five trading days) to about $47 per share. This compares to the S&P 500 which was up by roughly 1% over the same period. Although there wasn’t much negative news relating to the company in the past week, Robinhood has emerged as a “meme” stock of sorts, with its price movement dictated by interest from retail traders and other technical factors such as its float. The company allocated about 35% of its IPO shares to retail investors and also had relatively lax IPO lockup rules, translating into a higher float and more volatility.  Moreover, the stock saw a major rally post its listing, rising by as much as 85% from its IPO price of about $38 at one point earlier this month and this has likely caused investors to book some profits.

So is the stock a buy at current levels? While Robinhood has fared well in recent years as it remains the go-to app for millennials looking to trade stocks, we think the stock is a bit overvalued trading at almost 20x forward revenues. Although the valuation is partly justified by the company’s solid growth, with sales expected to roughly double this year, there are risks as well. With inflation on the rise and the U.S. Federal Reserve looking at rate hikes for 2023, a year ahead of initial expectations, there’s a strong possibility that the stock markets could see limited gains or even a correction, impacting brokerage businesses. Robinhood is more dependent on trading revenues and could be more adversely impacted by a pullback compared to rivals, who rely more on interest revenues. The company’s business model of generating revenue via Payment for Order Flow (PFOF) has also proved somewhat controversial. The SEC indicated that it was reviewing the PFOF model and this could also create an overhang on the stock.

We value Robinhood stock at about $39 per share, indicating a downside of about 17% from the current market price. See our analysis on Robinhood Valuation: Is HOOD Stock Expensive Or Cheap? for more details on HOOD stock’s valuation and comparison with peers.

[8/4/2021] Robinhood stock: What are the risks?

Robinhood Markets (NASDAQ:HOOD), the zero-commission online brokerage, went public last week. Although the stock was off to a rocky start, with prices briefly dipping below the IPO price of about $38 per share, it now trades at about $47 per share, giving the company a market cap of roughly $40 billion. Robinhood has a lot going for it, as it remains the go-to app for millennials looking to trade stocks, with growth surging through the pandemic. For example,  funded accounts rose to over 22 million as of June 2021, up almost 4x since the end of 2019. The company also has a fast-growing cryptocurrency business and with its large and engaged user base, it’s possible that it could venture into providing other financial services as well. That being said, we see a couple of key risks for the stock at this point.

The S&P 500 is now up by over 90% from the lows of March 2020. With inflation on the rise and the U.S. Federal Reserve also looking at rate hikes for 2023, a year ahead of initial expectations, there’s a strong possibility that the stock markets could see limited gains or even a correction, impacting brokerage businesses. While this is a risk that all brokers face, the impact on Robinhood could be more pronounced as the company largely caters to first-time investors who could scale back on trading as markets decline. Moreover, Robinhood appears to be more dependent on transaction-related revenues (payment for order flow) versus its peers. About 75% of the company’s revenues were dependent on transactions last year. In comparison, E-Trade, now acquired by Morgan Stanley, derived roughly 65% of its revenues from interest income in 2019.

Robinhood’s bread-and-butter payment for order flow business – which entails selling the order flow of its retail customers to market makers and high-frequency trading firms – is also controversial, with critics arguing that it could effectively give retail investors a worse price on their trades. In June, the SEC indicated that it was reviewing payment for order flow, causing some speculation that the practice, which is already illegal in countries such as the U.K., could be banned in the U.S. as well. While PFOF has more or less become a standard practice for Robinhood’s rivals such as Charles Schwab and E-Trade, they are less dependent on it as a revenue stream, given their larger interest-related revenues and other services.

Separately, there are some technical factors that could impact the stock. The company said that it would sell about 35% of its IPO shares to retail investors. This is in contrast with other companies who have typically allocated well below 10% of the stock for sale to individuals, setting aside a bulk of stock for institutional investors and high-net-worth individuals, who often have a longer-term investment horizon. This could make the stock more susceptible to big movements. For example, the stock rallied by 24% on Monday alone, for no apparent reason. It’s likely we could see similar swings on the downside as well. Robinhood also has looser post IPO lockup rules. Insiders were allowed to sell 15% of their holdings from the time the company went public, with another 15% apparently being freed up within three months. This could translate into a higher supply of stock, putting pressure on the stock price in the near term.

See our analysis on Robinhood Valuation: Is HOOD Stock Expensive Or Cheap? for more details on HOOD stock’s valuation and comparison with peers.

[7/22/2021] How Does Robinhood Markets Make Money?

Robinhood Markets, the zero-commission online brokerage popular with millennials, is expected to go public next week trading under the ticker HOOD on the Nasdaq. The company will offer shares at between $38 to $42 apiece, potentially translating into a valuation of as much as $35 billion. In our dashboard Robinhood Revenues: How Does HOOD Make Money? we provide an overview of Robinhood’s business model and its key revenue streams. Parts of the analysis are summarized below.

Robinhood’s Business Model

Robinhood is an online brokerage that offers commission-free trades of stocks,  exchange-traded funds, and cryptocurrency. Although Robinhood doesn’t directly charge its users for trades, it primarily makes money from market makers and frequency trading firms who pay for the order flow from its retail traders. Payments for order flow, or PFOF, accounted for roughly 75% of the company’s revenue last year. Additionally, Robinhood also earns revenue from interest on securities and margins loans. The company also offers other services including the Robinhood Gold premium subscription service, which gives users access to features including professional research and margin trading.

How Have Revenues Trended?

Robinhood has seen its transaction-based revenues grow 320% from around $170 million in 2019 to about $720 million in 2020. In Q1 2021, transaction revenues grew further by about 340% year-over-year to $420 million. The revenue surge comes as more retail investors have been attracted to the stock markets given the big bull run through the Covid-19 pandemic and more recently, the meme stock trading frenzy. For perspective, the number of funded accounts on Robinhood grew from around 5.1 million at the end of 2019 to about 12.5 million in 2020 and stood at an estimated 22.5 million as of the end of June 2021.  The retail trading frenzy has also meant that Robinhood is able to better monetize its users.  The average revenue per user rose from $65.70 in 2019 to $108.90 in 2020 and to about $137 in Q1 2021, on an annualized basis.

Although options remain the largest driver of Robinhood’s transaction revenue (47% of sales), the cryptocurrency business is the fastest-growing. In Q1 2021, crypto-related revenue soared by around 20x year-over-year to almost $88 million. Apart from the core transactions business, Robinhood’s other segments have also been expanding, with net interest revenue and other revenue together rising by almost 3x in Q1 compared to last year.  That said, Robinhood is actually getting more dependent on its transaction revenues, which accounted for almost 81% of sales over Q1, versus about 75% last year.

What Are The Risks? 

While Robinhood’s recent sales growth has been robust, there are near-term risks. The stock markets could be peaking, with the S&P 500 now up about 90% from the lows of March 2020. Moreover, inflation is on the rise, and the U.S. Federal Reserve is also looking at rate hikes for 2023, a year ahead of initial expectations. A sharp market correction or even sideways movement could limit interest in Robinhood’s platform, which largely caters to first-time investors. Separately, Robinhood’s bread-and-butter payment for order flow business model is also controversial, with critics arguing that it could effectively give retail investors a worse price on their trades. Last month, the SEC indicated that it was reviewing payment for order flow, causing some speculation that the practice, which is already illegal in countries such as the U.K., could be banned in the U.S. as well. While PFOF has more or less become a standard practice for Robinhood’s rivals such as Charles Schwab and E-Trade, they are less dependent on it as a revenue stream, given their larger interest-related revenues and other services.

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Robinhood Markets stock (NASDAQ: HOOD) has declined by almost 31% over the last month, considerably underperforming the S&P 500 which remains up by about 2.4% over the same period. There are a lot of factors weighing Robinhood stock down. Firstly, it’s looking increasingly obvious that the boom in so-called “meme” stocks and speculative cryptocurrencies such as Dogecoin is cooling off. This was visible in Robinhood’s Q3 earnings as it actually lost customers after posting record growth in the first half of the year. Moreover, the Federal Reserve is likely to raise interest rates sooner than expected to fight inflation, and this could prove to be a net negative for the stock markets and trading activity. Separately, the SEC has also been investigating Robinhood’s payment for order flow revenue model, which entails selling the order flow of its customers to market makers, and this has created a big overhang over the stock as transaction revenues accounted for about 78% of Robinhood’s revenue in Q3.

So is Robinhood stock a buy following the recent sell-off? We think it is. While the concerns regarding the company’s near-term outlook are legitimate, we think this is more than priced into the stock, considering that it has corrected by over 75% from its all-time highs seen in August 2021. Robinhood has proven to be agile and innovative and has a good understanding of young retail investors and this should help it adapt even as the market cycle eventually turns, or if it faces setbacks to its revenue model. The company has also built a sizable customer base with more than 22 million funded accounts and this could allow it to cross-sell other financial products and services. Robinhood’s cryptocurrency push is also likely to be a meaningful driver of growth going forward, as cryptocurrency brokering is typically very lucrative (rival Coinbase posted net margins of 33% last quarter). Robinhood had been adding new features to its crypto service and is likely to launch a crypto wallet feature this month that will enable users to send and receive cryptos. Robinhood’s stock now trades at about $15.60 per share, trading at a little over 6x our projected 2022 revenues for the company, a cheap valuation, in our view. We value the stock at about $25 per share. See our analysis on Robinhood Markets Valuation: Is HOOD Stock Expensive Or Cheap? for more details on Robinhood Markets stock’s valuation and comparison with peers. For more information on Robinhood’s business model and revenue trends, check out our dash on Robinhood Markets Revenue: How HOOD Makes Money

Below you’ll find our previous coverage of Robinhood stock where you can track our view over time.

[10/12/2021] What’s Happening With Robinhood Stock?

Robinhood Markets (NASDAQ:HOOD) is best known as a zero-commission brokerage app that Millennials turned to, to cash in on the soaring Covid-19 stock market and to ride the meme stock wave. However, Robinhood stock which was listed in late July hasn’t really delivered for investors since its listing this Summer. While Robinhood was listed at a price of about $38 per share, it currently trades just about $42 per share, after briefly rising to as much as $70 per share. So what’s holding Robinhood stock back? We think there are a couple of factors.

Retail traders, who powered Robinhood’s growth, are likely to be less interested in stock trading, as they headed back to the office and seek entertainment outdoors, following the Covid-19 lockdowns.  For perspective, Robinhood’s app downloads, which can be viewed as a rough estimate of new account openings, declined 78% over Q3 2021, versus Q2, per data from Apptopia. Other brokerages and crypto trading platforms have seen much smaller declines, in comparison.

There also appears to be some regulatory concerns for Robinhood. The company’s core equity and options business is facing some scrutiny from the SEC over its revenue model which entails selling the order flow of its customers to market makers. The company also recently warned that rising regulatory scrutiny of cryptocurrencies could pose a risk to its business. For perspective, payment for order flow accounted for about 38% of revenue in Q2 2021 while cryptocurrencies accounted for 41% of total revenue.

Robinhood stock has a relatively limited float currently and could be seeing some pressure in anticipation of lockup expiries and plans of large shareholders to liquidate their shares. For example, in early August the company said in an SEC filing that some existing investors who bought into the company via private placement plan to sell close to 97.9 million shares over time.

We value Robinhood stock at about $39 per share, slightly below the current market price. See our analysis on Robinhood Valuation: Is HOOD Stock Expensive Or Cheap? for more details on Robinhood Stock’s valuation and comparison with peers.

Think cryptocurrency could disrupt the banking industry? Looking for upside from Bitcoin adoption, without buying into the cryptocurrency itself? You can find more about our theme on Cryptocurrency Stocks

[9/21/2021] Robinhood Is Pushing Further Into Crypto Business. How Will This Impact Its Stock?

Robinhood Markets (NASDAQ:HOOD), best known as a zero-commission stock brokerage, has been increasingly focusing on improving its cryptocurrency offerings. Bloomberg reports that Robinhood is testing new cryptocurrency wallet and transfer features for its app. While customers can already buy and sell crypto assets such as Ethereum and Bitcoin on the Robinhood platform, the wallet feature would enable users to store and manage all their virtual currencies in one place, and also use them without having to convert them to dollars. This has been a much sought-after feature and could enable the company to better compete with the big crypto platforms such as Coinbase. Separately, last week, the company said that it would allow users to set up recurring investments in crypto assets, essentially setting a specific amount to be invested on a periodic basis, automatically.

Robinhood’s interest in crypto is understandable. Over Q2 2021, cryptocurrency accounted for over 51% of the company’s total transaction revenues, eclipsing its core options and equity trading businesses. In fact, over Q2 customers appeared to be signing up on Robinhood primarily for its crypto offerings, with more new customers placing their first trade in cryptocurrencies rather than equities. The increasing crypto exposure should also help de-risk Robinhood’s revenue streams to an extent, as its core equity and options business faces mounting scrutiny from the SEC over its payment for order flow model. The SEC doesn’t really control the crypto market, on the other hand. That said, the crypto market is cyclical and Robinhood’s revenues could be even more vulnerable in a downturn, given its focus on retail traders unlike platforms such as Coinbase who derive an increasing portion of sales from institutions.

We value Robinhood stock at about $39 per share, roughly in line with the current market price. See our analysis on Robinhood Valuation: Is HOOD Stock Expensive Or Cheap? for more details on Robinhood Stock’s valuation and comparison with peers.

[9/7/2021] What’s Happening With Robinhood Stock?

Although Robinhood Markets (NASDAQ:HOOD) is best known as a zero-commission stock brokerage that’s popular with millennials and first-time traders, the company actually has a very fast-growing cryptocurrency business. Over the most recent quarter, cryptocurrency accounted for over 51% of the company’s total transaction revenues, eclipsing its core options and equity trading businesses.  In fact, in Q2 customers appear to be signing up on Robinhood primarily for its crypto offerings, with more new customers placing their first trade in cryptocurrencies rather than equities. Over 60% of Robinhood’s cumulative funded accounts traded in crypto during Q2 2021. Crypto-related revenue streams surged from a mere $5 million in Q2 2020 to almost $233 million in Q2 2021. Although this is behind the likes of Coinbase, which posted about $2 billion in Q2 sales, Robinhood’s crypto growth is still noteworthy.

Robinhood offers free trades for cryptocurrency, making money by selling the order flow of its customers to market makers, much like it does for options and equity. However, unlike the equity and options payment for order flow businesses which has come under scrutiny, the regulatory risks are probably lower for the crypto business, as the SEC doesn’t really control the crypto market. That being said, we don’t think that Robinhood can count on its crypto business to drive consistent growth. The cryptocurrency market is extremely volatile and is also subject to multi-year cycles (usually two to four years) and engagement could quickly fall off in a bear market. Although this is a risk that all crypto brokers face, the impact on Robinhood could be more pronounced as the company largely caters to first-time investors who could pull out as markets decline. In comparison, rival Coinbase derived roughly two-third of its crypto trading volumes over its most recent quarter from institutional customers, who are less likely to scale back.

We value Robinhood stock at about $39 per share, indicating a downside of about 13% from the current market price. See our analysis on Robinhood Valuation: Is HOOD Stock Expensive Or Cheap? for more details on Robinhood Stock’s valuation and comparison with peers.

[9/3/2021] What’s Happening With Robinhood Stock?

Robinhood stock (NASDAQ: HOOD) declined by almost 5% over the last week (five trading days), compared to the S&P 500 which was up by over 1% in the same period. There are two key factors driving the recent decline.

Firstly, the Securities and Exchange Commission Chairman Gary Gensler has indicated in an interview with Barron’s that the agency was considering banning the payments for order flow (PFOF) model which subsidizes the zero-commission brokerage model that Robinhood uses. The model is controversial, as it entails selling the order flow of Robinhood’s retail customers to market makers and high-frequency trading firms. Although PFOF has more or less become a standard practice in the brokerage industry, a ban would disproportionately impact Robinhood, which derived about half of its transaction revenues over Q1 from stocks and options, compared to other players who are more focused on interest-related revenues and other services.

Secondly, more competition also appears to be on the horizon, with payments major PayPal apparently updating its app to enable stock trading by customers. PayPal could pose a legitimate threat to Robinhood for a couple of reasons. PayPal has over 400 million accounts, most of which are linked with users’ bank accounts, compared to just over 22 million accounts for Robinhood, allowing it to target a large pool of users who likely already have its app installed. Moreover, PayPay is likely looking to use its stock trading features as a means of driving engagement to its app, so that it can sell its payments and other financial services. This could make it less reliant on trading revenues, giving it an edge over Robinhood.

We value Robinhood stock at about $39 per share, indicating a downside of about 13% from the current market price. See our analysis on Robinhood Valuation: Is HOOD Stock Expensive Or Cheap? for more details on Robinhood Stock’s valuation and comparison with peers.

[8/17/2021] Robinhood Stock Continues To Slide. Time To Get In?

Robinhood Markets (NASDAQ:HOOD), the zero-commission online brokerage popular among millennials, has seen its stock price decline by about 16% over the last week (five trading days) to about $47 per share. This compares to the S&P 500 which was up by roughly 1% over the same period. Although there wasn’t much negative news relating to the company in the past week, Robinhood has emerged as a “meme” stock of sorts, with its price movement dictated by interest from retail traders and other technical factors such as its float. The company allocated about 35% of its IPO shares to retail investors and also had relatively lax IPO lockup rules, translating into a higher float and more volatility.  Moreover, the stock saw a major rally post its listing, rising by as much as 85% from its IPO price of about $38 at one point earlier this month and this has likely caused investors to book some profits.

So is the stock a buy at current levels? While Robinhood has fared well in recent years as it remains the go-to app for millennials looking to trade stocks, we think the stock is a bit overvalued trading at almost 20x forward revenues. Although the valuation is partly justified by the company’s solid growth, with sales expected to roughly double this year, there are risks as well. With inflation on the rise and the U.S. Federal Reserve looking at rate hikes for 2023, a year ahead of initial expectations, there’s a strong possibility that the stock markets could see limited gains or even a correction, impacting brokerage businesses. Robinhood is more dependent on trading revenues and could be more adversely impacted by a pullback compared to rivals, who rely more on interest revenues. The company’s business model of generating revenue via Payment for Order Flow (PFOF) has also proved somewhat controversial. The SEC indicated that it was reviewing the PFOF model and this could also create an overhang on the stock.

We value Robinhood stock at about $39 per share, indicating a downside of about 17% from the current market price. See our analysis on Robinhood Valuation: Is HOOD Stock Expensive Or Cheap? for more details on HOOD stock’s valuation and comparison with peers.

[8/4/2021] Robinhood stock: What are the risks?

Robinhood Markets (NASDAQ:HOOD), the zero-commission online brokerage, went public last week. Although the stock was off to a rocky start, with prices briefly dipping below the IPO price of about $38 per share, it now trades at about $47 per share, giving the company a market cap of roughly $40 billion. Robinhood has a lot going for it, as it remains the go-to app for millennials looking to trade stocks, with growth surging through the pandemic. For example,  funded accounts rose to over 22 million as of June 2021, up almost 4x since the end of 2019. The company also has a fast-growing cryptocurrency business and with its large and engaged user base, it’s possible that it could venture into providing other financial services as well. That being said, we see a couple of key risks for the stock at this point.

The S&P 500 is now up by over 90% from the lows of March 2020. With inflation on the rise and the U.S. Federal Reserve also looking at rate hikes for 2023, a year ahead of initial expectations, there’s a strong possibility that the stock markets could see limited gains or even a correction, impacting brokerage businesses. While this is a risk that all brokers face, the impact on Robinhood could be more pronounced as the company largely caters to first-time investors who could scale back on trading as markets decline. Moreover, Robinhood appears to be more dependent on transaction-related revenues (payment for order flow) versus its peers. About 75% of the company’s revenues were dependent on transactions last year. In comparison, E-Trade, now acquired by Morgan Stanley, derived roughly 65% of its revenues from interest income in 2019.

Robinhood’s bread-and-butter payment for order flow business – which entails selling the order flow of its retail customers to market makers and high-frequency trading firms – is also controversial, with critics arguing that it could effectively give retail investors a worse price on their trades. In June, the SEC indicated that it was reviewing payment for order flow, causing some speculation that the practice, which is already illegal in countries such as the U.K., could be banned in the U.S. as well. While PFOF has more or less become a standard practice for Robinhood’s rivals such as Charles Schwab and E-Trade, they are less dependent on it as a revenue stream, given their larger interest-related revenues and other services.

Separately, there are some technical factors that could impact the stock. The company said that it would sell about 35% of its IPO shares to retail investors. This is in contrast with other companies who have typically allocated well below 10% of the stock for sale to individuals, setting aside a bulk of stock for institutional investors and high-net-worth individuals, who often have a longer-term investment horizon. This could make the stock more susceptible to big movements. For example, the stock rallied by 24% on Monday alone, for no apparent reason. It’s likely we could see similar swings on the downside as well. Robinhood also has looser post IPO lockup rules. Insiders were allowed to sell 15% of their holdings from the time the company went public, with another 15% apparently being freed up within three months. This could translate into a higher supply of stock, putting pressure on the stock price in the near term.

See our analysis on Robinhood Valuation: Is HOOD Stock Expensive Or Cheap? for more details on HOOD stock’s valuation and comparison with peers.

[7/22/2021] How Does Robinhood Markets Make Money?

Robinhood Markets, the zero-commission online brokerage popular with millennials, is expected to go public next week trading under the ticker HOOD on the Nasdaq. The company will offer shares at between $38 to $42 apiece, potentially translating into a valuation of as much as $35 billion. In our dashboard Robinhood Revenues: How Does HOOD Make Money? we provide an overview of Robinhood’s business model and its key revenue streams. Parts of the analysis are summarized below.

Robinhood’s Business Model

Robinhood is an online brokerage that offers commission-free trades of stocks,  exchange-traded funds, and cryptocurrency. Although Robinhood doesn’t directly charge its users for trades, it primarily makes money from market makers and frequency trading firms who pay for the order flow from its retail traders. Payments for order flow, or PFOF, accounted for roughly 75% of the company’s revenue last year. Additionally, Robinhood also earns revenue from interest on securities and margins loans. The company also offers other services including the Robinhood Gold premium subscription service, which gives users access to features including professional research and margin trading.

How Have Revenues Trended?

Robinhood has seen its transaction-based revenues grow 320% from around $170 million in 2019 to about $720 million in 2020. In Q1 2021, transaction revenues grew further by about 340% year-over-year to $420 million. The revenue surge comes as more retail investors have been attracted to the stock markets given the big bull run through the Covid-19 pandemic and more recently, the meme stock trading frenzy. For perspective, the number of funded accounts on Robinhood grew from around 5.1 million at the end of 2019 to about 12.5 million in 2020 and stood at an estimated 22.5 million as of the end of June 2021.  The retail trading frenzy has also meant that Robinhood is able to better monetize its users.  The average revenue per user rose from $65.70 in 2019 to $108.90 in 2020 and to about $137 in Q1 2021, on an annualized basis.

Although options remain the largest driver of Robinhood’s transaction revenue (47% of sales), the cryptocurrency business is the fastest-growing. In Q1 2021, crypto-related revenue soared by around 20x year-over-year to almost $88 million. Apart from the core transactions business, Robinhood’s other segments have also been expanding, with net interest revenue and other revenue together rising by almost 3x in Q1 compared to last year.  That said, Robinhood is actually getting more dependent on its transaction revenues, which accounted for almost 81% of sales over Q1, versus about 75% last year.

What Are The Risks? 

While Robinhood’s recent sales growth has been robust, there are near-term risks. The stock markets could be peaking, with the S&P 500 now up about 90% from the lows of March 2020. Moreover, inflation is on the rise, and the U.S. Federal Reserve is also looking at rate hikes for 2023, a year ahead of initial expectations. A sharp market correction or even sideways movement could limit interest in Robinhood’s platform, which largely caters to first-time investors. Separately, Robinhood’s bread-and-butter payment for order flow business model is also controversial, with critics arguing that it could effectively give retail investors a worse price on their trades. Last month, the SEC indicated that it was reviewing payment for order flow, causing some speculation that the practice, which is already illegal in countries such as the U.K., could be banned in the U.S. as well. While PFOF has more or less become a standard practice for Robinhood’s rivals such as Charles Schwab and E-Trade, they are less dependent on it as a revenue stream, given their larger interest-related revenues and other services.

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