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The Celsius Network. Earn. Borrow. Pay on the Blockchain. “ Motivation Niche

The old adage of “Make your money work for you,” has been a principle the wealthy have known for quite some time, often just out of reach…

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Motivation[Niche]

The old adage of “Make your money work for you,” has been a principle the wealthy have known for quite some time, often just out of reach for someone with little to no money or financial education *cough* Millennials. Traditionally, people have saved money with their banks. An APY (annual percentage yield) gives dividends based on how much you hold in your account. Conversely, banks offer an APR (annual percentage rate), an interest rate given when you borrow. Often, these rates make no sense when considering inflation.

The Celsius Network is now offering these traditional finance services to retail investors but in a decentralized fashion. Banks take 80% and give back 20% which is why the banks, Wall St., people at the top get richer and richer and the people at the bottom have to pay overdraft fee’s with the money they don’t have. Celsius established a model that does the opposite. Celsius keeps 20% and gives back 80% to the customers. A level playing field for all.

In one year, Celsius’s native token, CEL, gained an exponential rise with a low of $.04 and a high of $6.80 (early 2021). A $1000 investment into CEL would have returned $170,000 in 14 months. Celsius seems to have much potential for future growth in the still incredibly young crypto lending market. Founded by Alex Mashinsky, an entrepreneur who started well-known tech companies, one facilitating use of Voice over IP at the enterprise level and the other bringing wireless connectivity to mass transit. On to the next big thing, Mashinsky’s Celsius Network is bringing Centralized Finance (CeFi) powered by decentralized assets to the masses.

The Celsius platform offers investors the opportunity to lend their crypto by adding liquidity to its network and the ability to borrow money on its assets. Investors can earn generous rewards by using the native utility token CEL via its loyalty program.

The network offers higher APY and lower APR if the user chooses to utilize the CEL token. The higher your holdings in CEL, the better perks you get. Celsius not only offers these perks to retail investors but also institutions. The Tokenomics are interesting. Investors choose to pay or be paid in CEL, and/or, they can stake CEL for a 5% annual return. Approximately ⅓ of the total supply is in circulation and Celsius is the biggest buyer of its own token to pay its users.
CEL price action is dictated by how many accounts are using the token on the platform.

Celsius is able to provide such low fees using a traditional financial practice known as hypothecation. Basically, Celsius is able to borrow money based on assets it controls. With many users parking their crypto assets on the platform, Celsius has a large pool of collateral, providing the same lending and borrowing principles on an institutional level. You will need 4 to 1 collateral for a loan and if you treat Celsius like a saving account like I do, then it’s not difficult to leave those funds alone to earn compounding interest every week. As you see below, a $10,000 loan, paid back in 6 months will cost you a total of $37.50 or $6.25 a month. Less than 1% interest. Where else can you do this?

One drawback for more serious crypto enthusiasts is that users must give up their private keys to Celsius, as it is a centralized entity. The old crypto saying stands true, “Not your keys, not your crypto,” but the features the platform provides and the trust they have gained within the community has won over many users, close to 500k, as Celsius has aggregated over 10 billion in assets. The platform offers a more hands off approach to investing and is a good entry into the crypto space. If Alex, the CEO, has millions of dollars of his money in there, that’s good enough for me.

The rates alone put big banks to shame. Most traditional banks give very little incentive to investors or even just your average saver trying to hedge against inflation in a run-of-the-mill savings account. With yields below 1%, banks are nowhere close to the 1.68% inflation rate the USA is facing.

With traditional finance, people must be approved for a loan and there is paperwork associated with any bank. When you pair this with a much higher APR and the necessity of a solid credit score, getting a loan can prove difficult. This makes it harder for average investors to put their money to work for them. Again, the APR a bank will give you is, in part, based on your credit score. Some secretaries have higher credit scores than the billionaires they work for. So, what does that score even mean? The price of entry is a solid financial foundation, which in these days eludes many.

Celsius brings users red tape free borrowing and lending and this is where it really shines. If you have the collateral (crypto asset) you can borrow on it. Simple. With APR rates starting at 1%, it is a perfect micro loan system. There are many utilities and reasons to borrow against your crypto. You can cash in without cashing out. This allows for people to either buy things or leverage their positions when they see fit. It is also handy to borrow money on your assets to defer capital gains tax. The beauty of the Celsius Network is it is all wrapped into one neat mobile app. The Celsius App offers users wallets to stake and earn rewards for most major cryptos, a lending/borrowing platform and peer to peer payments. Celsius pays out interest EVERY Monday and funds are never locked and ZERO withdrawal fee’s! Monday’s aren’t so bad when you receive emails like these:

Celsius Network is one of several crypto lending platforms offering retail investors the opportunity to preserve their wealth and borrow on assets. This notion is something the wealthy have known for some time; it is an open secret. The traditional financial system is designed to help the rich to get richer. In the words of Charles Hoskinson, the CEO of IOG and Cardano, “it’s a rigged game and we must change the rules.” Celsius is flipping the TradFi on its head, helping the average investor not only protect their wealth but grow it as well.

So, I will ask those average Joes out there, what makes more sense? Saving $10,000 in a traditional savings account with an APY of 0.5% that would yield you $50 a year. Or converting that into the digital version of itself (US Dollar Coin) and earning an APY of 13.3% awarded in CEL or 10.5% in USDC? It’s simple math. $100k in USDC will yield an extra $10,500 a year for you just in interest or nearly an extra $900 per month.

Celsius is helping introduce a whole new way of looking at finance in the twenty-first century for a struggling generation of people. Uniting Decentralized assets and Centralized finance is bringing more equity to the space and that is a good thing.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://motivationniche.medium.com/the-celsius-network-earn-borrow-pay-on-the-blockchain-motivation-niche-b74c04d5b406?source=rss——-8—————–cryptocurrency

Blockchain

Elon Musk and His Likeness Were at the Center of Another Twitter BTC Scam

Just prior to his anticipated “SNL” appearance, it appears Elon Musk was once again the subject of a Twitter-based bitcoin scam that saw several of his social media followers getting BTC-related spam in their message feeds. It Looks Like an Elon Musk Twitter Account Was Compromised It seems like Elon Musk and his followers just

The post Elon Musk and His Likeness Were at the Center of Another Twitter BTC Scam appeared first on Live Bitcoin News.

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Just prior to his anticipated “SNL” appearance, it appears Elon Musk was once again the subject of a Twitter-based bitcoin scam that saw several of his social media followers getting BTC-related spam in their message feeds.

It Looks Like an Elon Musk Twitter Account Was Compromised

It seems like Elon Musk and his followers just cannot catch a break in this department. Musk is constantly the subject of several crypto based social media scams. For the most part, it looks like many of these instances simply use his likeness, though in other instances, things have gotten quite hairy and dangerous in many ways.

One such instance occurred last summer when a teenager took over the Twitter accounts of several well-known and public figures including former president Barack Obama, his vice president Joe Biden, Microsoft mogul Bill Gates and, of course, the South African entrepreneur himself. The teen posted messages to their Twitter pages requesting that people forward their bitcoin to anonymous addresses. Once they did so, their money would be doubled simply because these figures were feeling “generous.”

Well, nobody who fell for the scheme saw their money get doubled. In fact, many of them just saw their funds disappear altogether. They had no idea that these accounts had been maliciously compromised, and that the person at the helm was just looking for a little extra digital cash he could store inside his pockets. Overall, the teen made off with approximately $121,000 BTC. He has since been arrested and has entered a plea deal that will see him serve a reduced sentence granted that he returns the stolen funds in a timely manner.

While this may be a step in the right direction, it looks like another instance of malicious bitcoin behavior has stepped in to take its place. A fraud tracker operating under the Twitter name @MalwareHunterTeam posted several screenshots to Twitter over the weekend showing pictures of accounts that appeared to have been compromised, one of which belonged to Musk.

The fraud tracker posted the following:

Another verified account is being used to spread an SNL/ Musk themed scam.

Whoever got control of the account ultimately responded to tweets that were sent to Musk. Additional tweets were also posted discussing potential crypto giveaways. These involved as many as 5,000 BTC and more than 100 million Dogecoin, two assets Musk has spoken highly of in the past. What was the catch? Users had to send digital money first to be considered – very reminiscent of last summer’s hack and a big red flag at this point.

What Were the Giveaways?

The Dogecoin-related message, for example, read as follows:

We are ready to present the event we announced on our show today. We want to thank our supporters and help crypto adoption. 100,000,000 Doge will be distributed among everyone that takes part in this event.

Tags: bitcoin, Elon Musk, Twitter Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.livebitcoinnews.com/elon-musk-and-his-likeness-were-at-the-center-of-another-twitter-btc-scam/

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Blockchain

Chainlink, VeChain, Uniswap Price Analysis: 11 May

After Bitcoin and Ethereum registered losses over the last 24 hours, bearish tremors were felt across the broader market. BTC dropped by nearly 5% and traded at $55,149, while Ethereum lost ground on

The post Chainlink, VeChain, Uniswap Price Analysis: 11 May appeared first on AMBCrypto.

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After Bitcoin and Ethereum registered losses over the last 24 hours, bearish tremors were felt across the broader market. BTC dropped by nearly 5% and traded at $55,149, while Ethereum lost ground on the $4,000 mark. Similarly, Chainlink, VeChain and Uniswap traded in the red at press time and indicated further pullbacks over the coming days.

Chainlink [LINK]

Source: LINK/USD, TradingView

Chainlink inched closer towards $45.6-support after bearish price action over the last 24 hours. If this level is breached, another defensive line rested at $41.3. Interestingly, the aforementioned support also coincided with the 20-SMA (red) and this region could counter a short-term sell-off. A more establish buying area lay at the $35.5-mark and close to the 50-SMA and a breakdown from this would sound alarm bells in the market. Such a scenario could lead to another 30% retracement towards the 200-SMA at $23.6.

RSI was expected to continue south judging by its movement since late February. A fall below 40 could trigger an extended bearish outcome. On the opposing end, OBV’s uptrend suggested that buying pressure had not escaped the market just yet. If the $35-41 region is maintained over the coming days, another price swing could be on the cards.

VeChain [VET]

Source: VET/USD, TradingView

At the time of writing, losses in VeChain were kept at bay $0.198 and the 20-SMA acted as additional support. On the 4-hour timeframe- this level coincided with the 200-SMA. Hence, a sell-off can be expected if the press-time support is breached. This outcome could cause a 20% retracement towards a defensive line of $0.167. The 24-hour trading volumes clocked in at $2.5 Billion but expect this number to drop over the coming days.

Awesome Oscillator noted bearish momentum after VET peaked at $0.282. A fall below equilibrium would have a damaging effect on VET’s short-mid term trajectory. RSI maintained neutral territory but a fall below 50 could see a sharp southbound move.

Uniswap [UNI]

Source: UNI/USD, TradingView

Uniswap broke south from a descending triangle and headed towards the $35-mark. There was still a chance for a bullish bounce back but $32-35 needed to be defended from selling pressure for such a favorable result.  The 50-SMA traded within the aforementioned support area and could offer respite in case of further dips. If this level also fails to cut losses, a retracement could take place all the way towards the $17.4- level, which was last seen during late February.

Squeeze Momentum Indicator’s green bars fell towards the half-line as momentum shifted towards the sellers. The first red bar below equilibrium would present a sell signal. The MACD’s bearish pattern was consistent with the SMI.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/chainlink-vechain-uniswap-price-analysis-11-may

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Blockchain

Shield Finance Completes a $780K Round to Create a DeFi Insurance Aggregator

[PRESS RELEASE – Chiang Mai, Thailand, 11th May 2021] Shield Finance, a multi-chain DeFi insurance aggregator that will deploy across the Polkadot, Ethereum, Binance Smart Chain, and Solana blockchains announced today the completion of their private fundraising rounds, having successfully reached the hard cap amount of $780 000. Private Investors. Shield Finance’s potential combined with […]

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[PRESS RELEASE – Chiang Mai, Thailand, 11th May 2021]

Shield Finance, a multi-chain DeFi insurance aggregator that will deploy across the Polkadot, Ethereum, Binance Smart Chain, and Solana blockchains announced today the completion of their private fundraising rounds, having successfully reached the hard cap amount of $780 000. Private Investors.

Shield Finance’s potential combined with its seasoned team attracted immense support from industry innovators including Master Ventures / PAID Network, DAO Maker, Zokyo, NGC Ventures, Spark Digital Capital, GD10.Ventures, Titan Ventures, and others.

The decentralized finance movement has been growing exponentially over the past year growing from $700 million by December 2019 to $65 billion as of April 2021. DeFi gives users full control over their money and financial future but this freedom comes with some drawbacks. As thousands of retail investors enter the attractive DeFi marketplace there are a variety of risks they have to take into consideration including market crashes, price volatility, and security issues. Until only recently, the DeFi has lacked any insurance options to give users peace of mind when investing in these new financial products. This is about to change.

Shield Finance is a DeFi insurance aggregator that aims to protect token investments from hacks, rug pulls, market crashes, and other DeFi-related risks. It does this through a proprietary aggregation engine that provides custom insurance packages for investor needs. Shield Finance could be referred to as the Skyscanner for DeFi insurance; users can see and select offers from multiple insurance providers without leaving the token platform.

“Insurance plays an important role in DeFi as a way to de-risk your investments. With a number of insurance players in the market, a multi-chain insurance aggregator will naturally attract users as a go-to place to buy insurance. This fundraise will be instrumental in driving the growth and development of Shield Finance.” Denis Gorbachev, CEO of Shield Finance

Shield Finance aims to dominate the cryptocurrency insurance market by partnering with DeFi exchanges, wallets, and farms. Shield Finance’s goal in doing so is twofold: to ensure DeFi insurance purchasing is easy and simple to purchase and to offer the cheapest DeFi insurance packages on the market.

As the Shield Finance platform launches more exciting features will be released including a web app and increased partnerships & integrations with insurance providers and DeFi platforms including exchanges, wallets, and farms.

Shield Finance expects development of the platform to be complete (timeframe?) after its public IDO launch on industry driving PAID Network’s crowdfunding platform, Ignition Launchpad. Operating as a decentralized swapping protocol, Ignition allows blockchain-based token projects to offer their private and public auctions to participants, leveraging both PAID Network and Polkadot technology. Capitalizing on PAID Network’s community strength and the popularity of the Ignition Launchpad platform the success of Shield Finance’s public IDO is all but certain.

Shield Finance IDO is set to take place May 19th, 2021 on PAID Network’s Ignition Launchpad at 11:00 AM UTC Ignition – IDO Launchpad on PAID Network

About Shield Finance

Shield Finance is a Multi-Chain DeFi Insurance Aggregator that allows users to buy protection against major market crashes due to black swan events (hacks, exploits, rug pulls, sell-offs). Incubated by Master Ventures (MV Fuel), Shield utilizes a proprietary aggregation engine to provide custom insurance packages for investor needs. The $SHLD token enables governance and provides staking rewards at 30% stable APY – however, the most important feature of the $SHLD token is the “buy & burn” program. Every quarter, it redirects 50% of fees generated by users to buy the $SHLD token on the open market & burn it, which results in the permanent reduction of supply.

Connect to Shield Finance:
Website: shieldfinance.io
Telegram: @ShieldFinanceHQ
Twitter: @ShieldFinance

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/shield-finance-completes-a-780k-round-to-create-a-defi-insurance-aggregator/

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Blockchain

QAN Raises $2.1 Million in Venture Capital to Build DeFi Ecosystem

QANPlatform has successfully closed a $2.1 million funding round and it looks to build a quantum-resistant DeFi infrastructure.

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QANPlatform – a project that is on a mission of building a quantum-resistant hybrid blockchain protocol, secured investment from various venture capital funds to build a DeFi ecosystem.

QAN Successfully Closes a Funding Round of $2.1 Million

The question of whether or not existing blockchain-based PoW networks would stand the test of a quantum computer is one that’s been discussed for quite some time. To this date, many believe that a quantum computer is the most serious threat to Bitcoin as it would be able to solve math problems a lot quicker compared to traditional mining machines.

In any case, in an attempt to tackle these issues, along with others, QANplatform has raised $2.1 million to fund the development of an ecosystem where developers would be capable of building various software applications within DeFi quicker.

Leading the round were the likes of DeltaHub Capital, BlackDragon, Insignius Capital, Fairum Ventures, and so forth.

Speaking on the matter was Johann Polecsak, co-founder and Chief Technical Officer at QANplatform, who said:

“Our key mission is to lower the entry barriers for developers so startups and enterprises can build their Proofs-of-Concept (PoC) and Minimum Viable Product (MVP) as fast as possible to reach mass adoption. We stick to this view and let only community-driven VCs invest in this strategic pool”

Quantum Computing and its Threats

According to a well-known report from one of the largest auditing and security service companies in the world – Deloitte, quantum computing does pose a threat to Bitcoin.

Of course, it’s important to factor in the possibility of such a computer being created and used for this particular purpose, but, in theory, it could cause damage, according to the experts.

For instance, there are around 4 million bitcoins that are potentially vulnerable to a quantum attack. Yet, there are plenty of things to keep in mind when thinking about this. For instance, it’s important to note that these are mostly p2pkh addresses, and only those which have never been used to spend bitcoins are safe because their public keys are not yet public. In other words – if one transfers their BTC to a new address, they should not be vulnerable to a quantum attack.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/qan-raises-1-8-million-in-venture-capital-to-build-defi-ecosystem/

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