DeFi

web3
November 24, 2022
By: Redaccion | 0 Comments

What is the Web3?

The evolution of web 2.0 brings the promise of decentralization, blockchain technology, and transforming users into owners. Web3 interacts with the evolution of the internet as we know it, and its main characteristic is that it will be a decentralized internet using blockchain technology. The open web Web3 is defined as open, where the cost goes much more to the creators and users and not both to the companies. Fernando Tricas is a computer science teacher at the University of Zaragoza, and defines himself as an “agnostic” on the subject, mostly because he considers that the web3 seems more theoretical than a reality for now. Semantic Web. Web3 or Web 3.0 The name web3.js is a collection of modules to interact with Ethereum nodes through different protocols that would allow interaction with the Ethereum blockchain and this would link, in a certain way, the web3 with Ethereum. He named it the Semantic Web, which aimed at increasing information on the web with the intention that not only individuals could already read its contents but also machines. In naming web3 they decided to disregard this part of web storytelling or the form of computing, making a new branch differentiating it from the previous web 3.0. In the end, web3 could be taken into account as a subset of crypto or a rebranding since in the end what web3 seeks is to be transparent, private, capitalistic, or democratic. Wallets in Web3 Identity is going to be tied to the wallet or digital wallet of the customer participating in it, as digital wallets are entirely anonymous unless the customer chooses to publicly link them to their identity. Since web3 promises to be a model where you must have, you must own tokens or digital assets to participate. What will web3 decentralization look like? There is no server initiative in blockchain-based decentralized networks: each node can store and disseminate content. Web3, therefore, has a model with provider freedom. Because the blockchain cannot be censored, the decentralized composition of such blockchain nodes allows the network to have fewer vulnerabilities. Freedom on the web3 It is conceivable that replication models or larger amounts of content could appear on the blockchain. But censorship or prohibition of certain content becomes much more difficult, because of the blockchain’s characteristics. Conclusion This new website promises a new and complete integration with digital assets and blockchain technology, hopefully, this will mesh well and more people will have access to the new website3.

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trading
September 13, 2022
By: Redaccion | 0 Comments

The crypto trading

Trading is a form of investment and searches for profitability that has become very popular in recent years thanks to the advance in technology and information systems. What is trading? Financial trading consists of the buying and selling of listed financial instruments (shares, companies, currencies, commodities) using an online platform, to obtain short-term economic profitability. Its operations are based, fundamentally, on buying an asset and then selling it at a higher price or selling an asset at a high price and buying others at a lower price. Types of trading: Day trading: It is a way of investing in the short term in which the stock market operations of buying and selling assets are opened and closed on the same day. In this type of online trading, you can trade currencies, stocks, commodities, or cryptocurrencies, among other assets. Scalping: This is also a type of short-term investment in which actions are executed in a few minutes several times a day. The most popular is Forex scalping, a trading style in which large volumes are invested for very short periods (minutes or even seconds). Swing trading: Unlike the previous modalities, it is a trading variant that allows you to trade in the financial markets in the medium term. Trades can be left open and last up to ten days. This technique uses charts that the stock price draws session by session to detect trends, taking advantage of them to make money both when the market is expected to rise and when it falls. Trend or directional trading: This operation is very similar to swing trading, since, like swing trading, it uses market trends to design a strategy. Whether upward or downward, directional trading is positioned in the market by taking advantage of the behavior that the charts have been showing. The main difference with swing trading is that operations can last for weeks, months, or years. Social trading: This is the name given to a new type of investment based on connecting users or traders by taking advantage of social networks. In this way, the most advanced traders share their strategies with beginners, who can follow, learn and copy the most experienced and successful investors. Conclusion It is important to know the types of trading that exist because these are concepts that we can find when talking about cryptocurrency trading since many times the same techniques and bases of traditional trading can be applied.

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August 22, 2022
By: Redaccion | 0 Comments

Are NFTs the same as bitcoin?

At the outset, the main difference we can highlight is that cryptocurrencies are fungible and NFTs are not fungible, which means that NFTs cannot be replaced by others. NFTs are unique digital assets backed and verified on the blockchain, while cryptocurrencies are decentralized digital currencies with transactions recorded on the blockchain. The most common and important cryptocurrency is Bitcoin, which has been the first widely adopted digital currency originated that did not depend on a central regime. Bitcoin is constantly comparable to gold, as investors see it as a “hedge against inflation”. The cost of gold furthermore stems from what is in essence a social creation: like Bitcoin, gold has a cost as we all agree that it does. The supply of Bitcoin is set at 21 million, which means that, unlike the dollar, there can never be much more than 21 million Bitcoins. This reduced supply causes Bitcoin to be incredibly small. Despite this Bitcoin is still a new technology and asset class, certain investors argue that this volatility is expected and generally invest with a long-term view. As the most funded decentralized currency that operates without the backing of a regime, it gives Bitcoin impressive utility. This increases its use in addition that smart contract functionalities now can encode on the Bitcoin network. The dispute over gold and Bitcoin predominates as an illustrative exemplification of the primary differences between NFTs and cryptocurrency. NFTs are the opposite: NFT stands for “non-fungible token,” which implies that each NFT cannot be modified, supplanted, exchanged, or swapped into smaller pieces, so its value is an integer and unique. Do NFTs have cryptocurrencies? NFTs are mainly purchased with cryptocurrencies, especially Ethereum since this network is where these assets were born. This is a common way for NFT projects to raise additional capital while giving investors a way to indirectly invest in NFTs. Some NFT collections, such as Bored Ape Yacht Club, have made their cryptocurrency called APE coin. Are NFTs better than cryptocurrencies? There isn’t a characteristic of one or the other to compare them in this way, as in the end they are both decentralized digital assets that sit on a blockchain network. So there is no reason to invest in NFTs before cryptocurrencies because they are not comparable. Investors constantly consider the two to be different asset classes because they have different purposes. Do you need cryptocurrencies to buy NFT? The simplest way to mine an NFT is to generate your cryptocurrency wallet. By using this Ethereum or Solana and logging into an NFT platform such as OpenSea or Rarible we can get our hands on NFTs.

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August 22, 2022
By: Redaccion | 0 Comments

How mining has affected component prices

Cryptocurrency mining is the process in which miners use computing power (hashing) to process transactions and obtain rewards, in this case, cryptocurrencies. In other words, it is the process of recording blockchain transactions to obtain a cryptocurrency. However, to achieve this, a powerful computer is needed to be able to process large amounts of data, miners acquire high-end GPUs (graphic cards) and CPUs (Central Processor) to start mining. Due to the constant increase in the value of cryptocurrencies many companies and organizations have opted to start mining which has caused the prices of graphics cards to double and many of them even run out of stock. An example of this was the new RTX 3000 series GPU that was introduced in November 2020 which in just one month was no longer available. However, the price of the components has dropped in recent months due to the Chinese government banning bitcoin mining which caused mining groups such as HashCow or BTC.TOP suspended its operations in China which caused the fall of bitcoin which in turn lowered the demand for components for this activity. Let’s remember that China is responsible for 65% of bitcoin production worldwide. Experts in the field believe that this is temporary since companies are considering moving to other countries to continue their mining activity and in turn, the value of bitcoin has started to rise again as well as other cryptocurrencies, which could cause the prices of components to increase again and its stock to decrease making it more difficult to obtain. Thus affecting other sectors that need this technology.

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dogecoin
August 20, 2022
By: Redaccion | 0 Comments

The history of Dogecoin

Since the emergence of bitcoin, more and more currencies have been emerging, including dogecoin, which, like the others, can be bought and sold as an investment and spent as money. But what is the origin of this peculiar cryptocurrency? It all starts in 2013 when bitcoin had a bad reputation for being associated with the Dark web, it was then when a programmer and former IBM engineer had the great idea of creating a currency that was fun and attracted attention, it should be clarified that this began as a joke. Surfing the internet Makus came across the domain dogecoin.com which belonged to Jackson Palmer, a data engineer working at Adobe, this fits perfectly with his idea since the name came from a popular “meme” of that year which was based on an image of a Shiba Inu dog to which a funny phrase was added. This is how Markos contacted Palmer and they started to develop the cryptocurrency called Dogecoin. It is important to mention that dogecoin is not a coin developed from scratch since it is based on the Litecoin coin which in turn is a copy of bitcoin with the difference that these coins work with the Scrypt algorithm and not the SHA-256 algorithm as bitcoin does. In turn, dogecoin maintains the PoW consensus, but the blocks are generated every minute and the maximum is eliminated, i.e. the issuance of coins is infinite. However, it was not until recent years that this cryptocurrency began to become so popular, part of this was due to the support received from celebrities such as the founder of Tesla and SpaceX Elon Musk who through his Twitter account tweeted about this cryptocurrency which caused its value to increase by 30%, thus capturing the interest of several people. Although recently the CEO’s disagreements with the crypto industry led to doge a 50% drop after achieving its all-time high of 0.73 USD. Despite this investors are still confident that dogecoin will achieve a dollar value sooner or later. While the fate of a cryptocurrency is uncertain, its current value will likely increase over the years. We hope you are interested in this origin that is already part of the history of cryptocurrencies, as always we remind you that this is not a financial recommendation, we have to make our analysis and not invest money that we cannot afford to lose.

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NFT
August 16, 2022
By: Redaccion | 0 Comments

What NFTs are used for

NFTs are digital assets that gained a lot of popularity during the pandemic years becoming worth thousands and thousands of dollars. Currently, the market has stabilized more and we no longer see both madness as before, even part of this is due to the fall that cryptocurrencies had almost nothing. These assets can be found in OpenSea which is the main platform where people usually keep their assets. But what are their uses? The uses of NFTs vary quite a lot and they do not only work as digital art, which is what is usually believed, here are some of them Music: We have heard of several bands and musical groups that are exploring the world of NFTs to release versions of their music albums and some of their songs. Certifications and licenses: Every day the way is being paved so that we can have our NFT IDs, digitally carrying them and with real validity. Sports: Currently some teams have decided to try selling tickets as NFT, such is the case of the PSG team that has sold tickets for their tour in Japan. Properties and real estate: With the advent of the metaverse and digital properties such as land or smaller assets, eliminating intermediaries in the purchase and sale of real estate. What is the purpose of NFTs? Unlike cryptocurrencies or bitcoin, NFTs are unique tokens, of which there is only one and there will never be another one like it for anything in the world. They are transferable but we can not split them into decimals, for example, if I have 1 bitcoin, I can sell 0.005 part of it and keep the rest, but the NFT is not like that if I have an NFT of something and I want to sell it I can only sell the whole unit and not just a part of it. So in a very simple way, NFTs serves as a certificate that validates that a person owns something which guarantees its authenticity and uniqueness. Why do people buy them? The main reason why people buy NFTs is because of their value, as this always tends to go up, this is because they are unique so if a person wants it they have no choice but to buy it at the price you set. Another reason why people buy them is somehow for a sense of belonging since the most popular NFT collections have communities, so having an NFT makes you part of it. This feature became very popular with the Bored Ape Yacht Club, which was an exclusive club where only people who had their NFT could have access to exclusive content. This stuck and there are now many collections that offer exclusive products and even shares within the collection. How can I earn money with NFTs? The easiest way to earn money is through speculation, you find a collection that you like, you see what they offer you to own the NFT and buy it, what you have left is to wait until the public sale is over and there is a sold out, from this moment is when the offers begin and nothing more is to wait for you to get one that interests you. This sale can be done directly through a wallet transfer or platforms such as OpenSea. Another way to earn money is by the benefits that the collection gives you, for example, there are some that for each collection they sell they give you a part you just for owning one of their NFT, or there are other collections that for having their daily NFT they deposit you the project’s currency which always has a value. In the end, the main way to earn money is by buying an NFT and selling it later at a higher price, although you always have to be careful because this is not necessarily going to happen. In The Blue manakin, we always recommend that you make a good analysis before investing money and as always that this is one that you can afford to lose without affecting you.

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instagram-for-crypto
August 15, 2022
By: Redaccion | 0 Comments

6 Best Instagram Marketing Strategies for Crypto to Follow in 2022

Instagram is one of the main social networks that you should manage and have active for your NFT collections. That is why below we will bring you some strategies that you should follow to have an active and successful account on this social network: Create a more personalized space: Unlike Twitter on Instagram, we can share more visual and personal content since through images and stories we can share more about topics such as project development and even fill our posts and stories in the style of the coin or collection. Post about the team: Take advantage of the network space to give more visibility to the team in charge of the project and its founders, this helps to raise trust with the collection or crypto project. Constantly share the mission of the project: Today with the number of cryptocurrency collections and projects, it is very difficult for us to stand out if we do not have something that makes a difference. This we can mark it with an objective that aims beyond generating money, so if your collection or project comes backed by a cause, it is here on Instagram where you can take advantage of all the audiovisual content that you can use to share it. Take advantage of Lives: One of the best tools Instagram has is its live videos, as they are very easy to use and we can make them at any time. Take advantage of this tool to make sessions to answer live questions about the project, or use them to share something about the development of the project. Use hashtags strategically: It is important to be aware of what are the most popular hashtags on the day, we tend to believe that putting several is enough for our publication to appear in many places, but it is best to be aware every day about what is being talked about the most and use it to our advantage. Look for experts: Marketing agencies for crypto and NFT projects are always updated on the best strategies to use on social networks and Instagram is no exception so if you want to highlight your collection on the platform this is one of the best ways. In The Blue Manakin, we have all the necessary tools to grow your Instagram page, plus we have a database of influencers to use the ones that best suit your project and give it more visibility.

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What-are-NFT
August 15, 2022
By: Redaccion | 0 Comments

What are non fungible tokens (NFTs)?

NFTs are an asset that cannot be imitated, in the digital world that is compared to selling any other type of asset or property, but in an intangible form (soft technologies). These tokens can be seen as certificates of ownership of virtual or physical assets. How do they work? With NFTs, different digital files can be tokenized to create a digital certificate of ownership that can be bought and sold. As with cryptocurrencies, a record of who owns what is stored on the shared ledger such as the blockchain. The records cannot be falsified because this “ledger” is securely maintained by thousands of computers around the world NFTs can also contain Smart contracts that could provide the artist with, for example, a share of a future sale of the token. In many cases, artists retain the copyright to sell copies of those works and thus continue to sell. But for a buyer of an NFT who holds the token, it proves that he is the original owner of the work. Some people compare it to buying a copy signed by the author. In theory, anyone can tokenize their work to sell it as an NFT, but interest has grown following reports of multimillion-dollar sales. In this way, everyone can give “value” to NFTs simply because they believe it is valuable, which is why there are multimillion-dollar sales. In addition, they have the following characteristics: Strangely unique Non-interoperable Indivisible Indestructible Absolute property Verifiable Understanding the basics of NFTs is one of the first things we must do to learn more and more about them.

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new-crypto-projects
August 14, 2022
By: Redaccion | 0 Comments

How to find new Crypto Projects | Blue Manakin

We know that there are currently thousands of cryptocurrencies and that more and more are appearing. Normally new coins can be found in their first phase in the form of ICOs, which is the process in which the creators can somehow raise funds to develop the rest of the project. This is basically when the first investors come to the project. NFTs can also be found when they are still in pre-sale or on a whitelist. The advantage of being able to find these projects during these stages is that we can find them at much cheaper prices than they will be in the final sale. So we will share some ways to be able to find these projects before their public sale: Content creators: It is important to follow the creators of the topics that we like or that we are usually aware of, that is why if we want to find projects that are just about to come out, we have to follow the people who are dedicated to talking about it. Usually, new projects hire people to do promotions for them which still adds confidence to the project. Calendars: We can find on the web different pages that are dedicated to calendarizing the releases of new coins and NFT collections. In them, apart from seeing the release date, we can also find information about the project. Spooling platforms: Several platforms are dedicated to finding new collections and ICOS and creating lists, as for the NFT others can even give a rarity to your NFT depending on their characteristics. Telegram groups and Discord servers: On these platforms, we can be part of communities that are always on the lookout for these new exits and opportunities so by being part of them we can equally find these opportunities before they come out or when they are in their early stages. Crypto marketing agencies: Serious projects usually have a team or agency that is dedicated to their marketing, so following the agency is an opportunity to learn about new projects that are about to come out. In The Blue Manakin, we always have projects which always have a mission or art that we like, so if you always want to find projects that are coming out and are of quality follow us, so you do not miss them.

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blog-cripto
August 11, 2022
By: Redaccion | 0 Comments

TOP 10 Cryptocurrency Blogs and Websites to Follow in 2022

Cryptocurrencies and NFTs have updates practically every day, plus their market is volatile, it can change from one hour to the next so there is always a constant conversation generated from them. Also, companies are always coming up with new ways in which cryptocurrencies can be applied to new types of businesses or generating collaborations with brands that attract too much attention. This is why we bring you some of the best sites and blogs to be able to keep you up to date in this fast-changing space. Next, we have: CoinTelegraph It is always up to date and has interesting and informative topics on everything related to cryptocurrencies and blockchain. NFT Lately This page mainly focuses on the latest relevant news with new collection releases and all the events in the NFT world. Bitcoin.com Focused on giving us the latest details about bitcoin, but also comes out with the latest news on important topics about this world and the blockchain. Forbes A magazine dedicated to sharing various topics of technology, finance, and both other topics of the last moment. One of the characteristics of their notes and why it is worth reading them is that they share tips and strategies on finance, especially with cryptocurrencies. CoinDesk Like Forbes, in CoinDesk publishes a lot of news on different topics most of them about technology and business, but the vast majority are about the most relevant news about the crypto world and its education. They also upload content of opinion articles and interviews aligned on a substantial front page, as well as a podcast. CryptoNews Whenever something new comes out regarding the crypto world, you are sure to find it here first. They also share tips on how to move through this world. Bitcolumnista Known for their popular blockchain guide. What is the most attention-grabbing is that they allow their community to choose content with a downvote/upvote system ensuring that the first thing you see is quality content. CoinMarketCap This site is primarily used for market analysis including price charts, market cap, and trading volumes. You can also get, but they also share news about new coins and ICOs. Criptodiario This site mainly publishes news about popular coins such as Bitcoin and Ethereum. As well as NFT-related content and the latest news from the metaverse. The Blue Manakin Here at The Blue Manakin we have our cryptocurrency blogs, focused on answering the questions we usually have when we start getting into this vast world. You can also find news about what is going on in the world of cryptocurrencies and NFT. We hope these pages are of interest to you and help you to always stay educated and updated about this changing world.

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comunidad-crypto
August 10, 2022
By: Redaccion | 0 Comments

8 Tips to grow a crypto community

Having a large and active community is one of the most important things to having a cryptocurrency or NFT project because this can be a good sign of a prosperous future in the project which can bring more investors or people who are going to buy our collection. In marketing, it is said that one of the best techniques to promote something is through the mouth of the people, if people speak well of your project that will attract more people because there is something good there. That’s why we bring you some tips so you can make your community bigger: Create a space where your community can live together: One of the first steps we must do is to have a space where we can receive people who will be part of our community, these spaces are usually different depending on what your project is focused on. If it is an NFT project the best is to create a Discord server, here you can create different types of channels to entertain your community and keep it informed about the project. In the case of cryptocurrencies, it is best to have a telegram group, as these are usually more serious so the means of communication must change and the telegram is the space that best suits this. Social networks: Now that we already have a space where our community can stay, the next thing is to have our social networks always active, sharing information about our project and its status. In the same way, if we have an NFT collection it is best to have some networks so to speak, more colorful and cheerful, we can adopt the identity of our project and by that means share it. With a cryptocurrency project, it is best to keep the social networks a little more serious, in which we can share project updates, some important data as “facts” about the problems we seek to solve, and something important is that social networks are like a space that we can use as a customer service. We must not forget to try that in most posts we make, we leave links to our server or group. Use your mission to create a story: The reality is that there are already thousands and thousands of NFT collections and cryptocurrency projects, so it is important to find a way in which our project can thrive. We have to find a problem that we want to solve and with that base, we can develop the best way to share it through a story, an image, and above all a community. The people who join the community will not do it just to make money, but for what it means to be in your project and not just to be there but to be part of it. This will get them to share the project as if it were their own. Moderators: There must be always a person who knows the project active in the group or server, and also helps to maintain order within it, For this, we will use the moderators who will be the people who will be on the server while the creators are not there and what they will do is keep the conversation alive on the server, when someone asks a question also solve it and when people arrive to put disorder they maintain it. Reward your community: There are thousands of dynamics that we can do in our groups to be able to give things to our community and see a way that the creators have to thank them. This can be done through airdrops or by giving away a space for the WL or even an NFT. We can also take advantage of it for our social networks and that way grow the community even more. Make special events: You can make different events for your community, such as a space to share ideas with your followers, and make games inside your server to have a fun time but the important thing is to generate a connection with the community. Collaborations with other communities: Something we always like to mention is that in the end, it doesn’t matter what your cryptocurrency collection or project is about, in the end, we are all looking for the same thing which is to achieve a decentralized financial society. Look for communities that are open to collaboration so together you can grow your communities with more people looking for the same thing and thinking alike. Get experts: Our biggest recommendation is to find people who know how to move through this medium well. A crypto project marketing agency is one of the best ways to grow our community since a good agency already has its moderators and can manage your social networks and make the copies that best suit your project. At The Blue Manakin, we have the tools to help you grow your community, contact us for a quote. We have network moderation and both Discord and Telegram servers and we adjust to what your project needs.

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buy-bitcoin
August 9, 2022
By: Redaccion | 0 Comments

What can I buy with Bitcoin?

It is becoming more and more common that different businesses allow us to make payments through cryptocurrencies, depending on the platform is the currency that we can use but certainly the one that we will find will be Bitcoin, but certainly we can get to surprise by the number of things we can buy with Bitcoin. Below are some of the things we can buy with Bitcoin and other cryptocurrencies: Travel and Tours: Some travel platforms such as Expedia, CheapOair, and Travel360 Travel Agency accept bitcoin payments. Just like the Tours & Travel Teotihuacán page accepts bitcoins for the services it offers. Games: You can buy Xbox credits with bitcoin with which you can buy many things through the Microsoft store. Some platforms allow the purchase of codes to download games by paying with bitcoin. Handmade jewelry: Tobiko is a Mexican jewelry store where you can buy their products with bitcoin. Electronics: The site Newegg accepts bitcoins as a payment method, here you can buy things like a computer, a video game console, and even a cell phone. Music: Artists like Bjork and Kings of a lion, allow you to buy their albums with different cryptocurrencies. Works of art: Platforms like Bitpremier allow the sale of artworks that are for all tastes. Gold: Certain companies like JM Bullion accepts the purchase of ounces of gold for Bitcoin, a gemstone for another gemstone. Tickets: 13 Tickets is the first platform for tourist experiences that can be paid for with Bitcoins, and over 375 different cryptocurrencies. Which became quite popular for reaching an agreement with Real Madrid to offer tickets for the Bernabeu Tour in bitcoins. It is more common to see various soccer teams start to allow ticket sales via cryptocurrencies and NFT. Gift cards: Gift cards can be purchased with bitcoin from stores like Amazon and other options like Netflix or Airbnb. These work in that you buy the cards at bitcoin value but when you receive the card it is in normal Fiat value. Clothing: In some online stores like Shopify, we can buy clothes using cryptocurrencies. This works since in Shopify it is the users who create their online store so some of these may have the option to accept Bitcoin payments. Real estate: Since the historical peak of Bitcoin and also Ethereum smart contracts, it has recently become popular to accept it as a payment currency for the purchase of the real estate. As we can see there are many ways in which we can spend our bitcoins if we want to, and as time goes by we are sure that the time will come when we will be able to practically use our bitcoins and cryptocurrencies daily.

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bitcoin-and-nature
August 9, 2022
By: Redaccion | 0 Comments

How does mining affect the environment?

According to an analysis by Cambridge University’s Centre for Alternative Finance (CCAF), if bitcoin were a country, it would consume more electricity per year than Finland, Switzerland or Argentina. This is because the process of “mining” the cryptocurrency (using gigantic computers that never stop working) consumes a lot of energy. The machines dedicated to “mine” or extract bitcoins are specialized computers that connect to the cryptocurrency network. Their job is to verify transactions made by people sending or receiving a currency, in a process that involves solving many mathematical puzzles. Usually the reward for that work is low and only small amounts of money are obtained in comparison to all that is spent in order to obtain them. That is why the only way for mining to be a profitable process is to do it on a large scale, with huge energy consumption and computers working 24 hours a day every day. That is why illegal cryptocurrency farms are installed in cities where electric power is cheap. They also seek to be in cities with frigid climates because the heat produced by the computers would make the cost of an air-conditioned area very expensive, thus cooling the equipment quickly and more cheaply. One might think that with the advances that we have today with respect to renewable energy could solve this problem, and although it is a part of the possible solution that can be given, there is still much energy that is produced from fossil fuels such as gas, oil and coal, which are highly polluting and produce a very large carbon footprint.

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bitcoin-to-fiat
August 9, 2022
By: Redaccion | 0 Comments

Can cryptocurrencies be converted into fiat money?

As time goes by and in this last year, we see more and more the use of cryptocurrencies in a more everyday way. Even so, we still have some inconveniences when using them to buy things since not all businesses accept them as a payment method, or there is no way to use them daily when going to a coffee shop or when we go to the supermarket, that is why tasting how to convert into fiat money to use it in physical stores or simply to have cash is important and many people can see it as something complicated. It all depends on the country and the currency we are going to use, Bitcoin is still the most used cryptocurrency so in it we can find more facilities to change them in certain countries and there are more methods to change this into cash. How to exchange it for real money? The first thing we recommend is that you look for the conversion of your cryptocurrency to real money, you can do this by searching directly on google in some cryptocurrency exchange, it is only to have an approximate as this value is constantly changing. The easiest way to convert cryptocurrencies to fiat currencies is through exchanges, where you can find different alternatives to exchange them such as: 1. Using the platform’s withdrawals. When you have an exchange wallet, you will only have to request an order to sell your Fiat coins, usually, we can find a withdrawal section to do this. You just have to wait for it to be executed and the real money will appear in your wallet. Then you will be able to withdraw it to a bank account. 2. Use the P2P method In most exchanges, or at least in the most popular ones, there is an option to buy and sell cryptocurrencies using the P2P method. With this method a person who wants to buy cryptocurrencies will do it directly with you, depositing the money in the currency you want to your bank account. 3. Automatic Teller Machines. In some parts of the world, it is already possible to find ATMs that have the possibility of reiterating money from wallets, specifically those that have bitcoin and it is as simple as scanning a QR code with your wallet to make the withdrawal. 4. The bitcoin debit card We have talked about this card before on this blog. Not long ago we talked about this Visa card that allows you in many establishments to pay in a normal way using bitcoin.  Are these transactions taxed? It all depends mainly on the regulations that exist in your country if money enters your account, it must have come out of a legal space and you will have to declare where it has come from. We invite you, depending on the country you are in, to investigate the way to declare your earnings made with cryptocurrencies and the taxes you would have to pay for them, all this so you don’t get into trouble. We hope this post has helped you a little more in your way through the crypto world, knowing some of the ways you have to get a real payment for your cryptocurrencies and also about the tax obligations you may have with this.

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DeFi
August 8, 2022
By: Redaccion | 0 Comments

What does DeFi mean?

DeFi is short for decentralized finance that includes digital assets, protocols, smart contracts, and dApps built on blockchain. We can think of DeFi as an open financial system where various small financial tools and services can be built. Decentralized finance is a movement where decentralized server networks and blockchains are used to transform traditional financial products into transparent protocols that work without intermediaries. Currently, almost all decentralized finance applications are based on Ethereum and Binance Smart Chain blockchains. Like Bitcoin, Ethereum and Binance you have a blockchain that acts as a shared ledger that tracks digital value. Rather than a central authority, all users who have access to and participate in the blockchain are the ones who control the transactions of both Ethereum and Binance depending on which one it is as if it were a democracy. Developers can program applications that can create, store and manage digital assets, also known as tokens, on the blockchain. For this, dApps (decentralized applications) are described and built. The expiration of contracts and agreements is automatically enforced if the blockchain obtains the correct data. Complex and irreversible agreements can be made without the need for an intermediary. Anyone can create, adapt, mix, match, link or build upon an existing decentralized finance product without permission. Decentralized finance protocols are modular, so they can be stacked on top of each other to build an increasingly dense and complex system of interacting parts.

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crypto-animals
July 29, 2022
By: Redaccion | 0 Comments

Animals in the Crypto world

In the crypto community, you can be categorized as a type of animal depending on the amount you have of a cryptocurrency in your wallet. Being the whale for those who have the largest amounts, or on the contrary a small shrimp if you have less than 0.5. But in between, there are more animals. Each one is used to mark trends or movements in the prices of Bitcoins and altcoins. Below go some of the most common ones: Whales: These are the wallets with the largest number of cryptocurrencies, these users can move significant sums of money in cryptos and cause variations in the market. They are known as Whales because of the representation that we are all investors in a big ocean, where there are fish (all those who have cryptos) and whales (big investors). Usually, these have a minimum of 1000 BTC. Bears: We will associate this animal with the bear market, which usually hibernates when it is cold and food is scarce. In cryptocurrencies, this winter is when prices are low, an example is a current market in which we had a big fall. Normally we associate the price drop of an asset with the action of bears on the market, which many times act influenced by external events. Bulls: When the fear of investing in the cryptocurrency market subsides and people start investing again, that’s when the bulls arrive. Since the Bull figure is associated with the bull market because of the upward angle its body has with its head raised above its neck. Bulls can tangibly encourage the prices of any asset. In the crypto world, we are all an animal but it is up to each person to choose which of these we want to be based on our investor profile or the opportunities we can take. But the important thing is that we all start as shrimp so there is no need to be afraid to take that first big step into this world. At The Blue Manakin, we want to help you on your journey in the world of cryptocurrencies and NFTs so don’t forget to check out our blog posts where we talk about different topics about this world and the latest trends.

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Forks
July 29, 2022
By: Redaccion | 0 Comments

Software development: What are forks?

In software development projects, a fork is the creation of a project from the source code of the main one to reuse code to speed up the development process. Something similar happens in cryptocurrencies since forks are used to clone the code of a cryptocurrency and create a new cryptocurrency from it or, on the other hand, to update the existing code; this can happen voluntarily or accidentally. Remember that the algorithm of a given cryptocurrency establishes parameters to work peculiarly, because these are executed in decentralized networks, all parties must use the same rules and work together correctly to preserve the history of the blockchain. There are different types of forks that are used depending on what we want to do, among which we find: Soft fork or soft forks. They are characterized by small adjustments or changes that are compatible with previous versions so it is not necessary to update all of them since the previous blocks are still readable. Rough forks or hard forks. These occur when developers make mistakes when making a new fork to update or fix bugs. Such an error causes the creation of a second blockchain which causes outdated nodes to reject transactions. In conclusion, forks have a considerable impact on the cryptocurrency ecosystem both positive and negative. Since just as forks create and enhance crypto assets, they can also create drama, increase risks, and fuel uncertainty within the community.

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Valuación NFT
July 25, 2022
By: Redaccion | 0 Comments

Valuation of NFT’s

As we taste, in the crypto world there are two types of tokens: fungible and non-fungible. Fungibles are those that function as money, a peso is always a peso invariably from the conditions of the coin. A peso coin can be replaced by any other peso coin. On the other hand, non-fungible tokens are unique and cannot be replaced by any other token. NFT’s can be used to represent unique digital assets, and are interesting because their uniqueness and ownership can be verified, they can be used in different applications, and they can also be easily exchanged in various markets. Depending on the asset the NFT represents, its value comprises four different components: utility, ownership history, future value, and liquidity. These components can be used by investors to assess whether the NFT is worth investing in, and by creators of NFTs to attract users and investors. The key is that NFTs create many new ways for value creation for creators and asset owners. Below, we break down the four components and discuss what gives value to each: UTILITY: Utility value depends on how the NFT can be used. Two major categories that have high utility value are gaming assets and tickets. For example, a rare and valuable Crypto Space Commander warship sold for $45,250 in 2019, and the value of an NFT ticket is the price of that same ticket. Another dimension of this same utility is being able to use this NFT in an application other than the one in which it was purchased. If you could use that same warship in another game, the value would go up exponentially. OWNERSHIP HISTORY: The value, in this case, depends on the identity of the seller and the previous owners of the NFT. NFT’S with the highest ownership history value is usually created by famous artists or companies with a large presence. Based on this, we can realize that there are two ways to give more value to our NFT: the first is to cooperate with influential companies or individuals to promote these tokens, and the second is to sell NFT’S that have been previously owned by equally influential people. FUTURE VALUE: The future value of an NFT is derived from speculative valuation changes and future cash flow. Valuation is driven by speculation and can often be the key to high value. One could argue that speculation is bad for NFT’S, but it is human nature and a fundamental part of the current financial system. LIQUIDITY: Higher liquidity means higher NFT value. Liquidity is the main reason why tokens created on-chain have a higher value than those not.

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nft-influencer-marketing
July 25, 2022
By: Redaccion | 0 Comments

Where to find NFT influencers to hire?

Every NFT collection needs a diffusion by all possible means, so we must find the ideal people for this. This diffusion can be carried out by people or pages specialized in the NFT world, which know and more importantly the communities that can make our collection a success. The disadvantages come in that sometimes it can be complicated to communicate with them or to find someone that serves us according to their community and the interactions they achieve in their publications. Below we will discuss some of the ways to hire influencers that are useful for our NFT collections: Look at their networks: One of the best ways is to review all the social networks they have available, so we can review all the content they upload, from the type of post they make to how many people react to them. Normally in their networks, they will have some mail for promotions or the platform will have some kind of method to contact them. They have a Manager: Many times NFTs influencers have a manager that helps them review all the possible collaborations that they will do. So we can reach them through him, we will explain in the best and most appealing way to their manager and if he is interested he will pass it on to his client or someone else he thinks would be better for the project. That he is interested in our project: In the end, the NFT influencers are just as many collectors, so having a flashy project, well organized and with a solid mission is very possible that even the influencer will be well into our project and give it a constant promotion. NFT platforms: On the internet and discord, we can find many NFT ranking platforms, these can even serve us as influencers since many people who are looking for new collections often come to these places to find collections. Normally discord usually has packages that include a shootout for everyone to see your project. Through a marketing company: In most cases, influencers are usually affiliated with a marketing agency. So if you want a sure way to find the ideal influencers for your project and they are already included in your budget, this is one of the best ways to get them. In The Blue Manakin, we have at our disposal a list of influencers who are specialized in the world of NFT collections and who are even collectors themselves, plus we support you to manage your networks and attract people to your project.

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dApps
July 22, 2022
By: Redaccion | 0 Comments

What are dApps

dApps are a type of application that is based on a decentralized network because the nodes that interact with the application are used as several servers instead of a central one. DApps is the acronym for Decentralized Applications. Decentralized networks work with a network of computers in which users have full control over the operation of the network. DApps allow people to access different services securely without worrying about being tracked in any way. These applications can use as nodes computers, and smartphones, or can even be accessible from the web. To taste what a dApp looks like, we must think of an ordinary application, in this category we have applications such as YouTube, Facebook, Twitter, and even Instagram. In all these services there is a network of central servers. This allows companies to decide what can be seen or not in these applications according to them to give it more “security” by taking neutrality. The dApp concept is nothing new because there have been several over time, but the most popular applications have been BitTorrent and DC++, both with peer-to-peer systems to share files without worrying about censorship because there is no way to track the server. However, the quintessential dApp that describes exactly how they work on a blockchain is Bitcoin because how its users and structure assign perfectly describes the function of dApps. But with the arrival of Ethereum in 2014, the Solidity language and the ability to create Smart Contracts made dApps massive, so thanks to these 3 things dApps started to become popular in the blockchain, allowing new ways of interaction between users, the real and virtual world. The dApps and traditional Apps have many elements in common, however, the difference lies in how they interact with those elements. Both types of applications have three basic structures: the frontend, the backend, and the data storage layer.

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