# How to Rise Above the Competition

It has already been thirteen whole years since Bitcoin was first introduced into our lives. It may not have been the first cryptocurrency to ever be conceived but it was the one that made the world notice. Ever since that day in 2009, cryptocurrency has been an ever expanding web of opinions, misinformation, misconceptions and ulterior motives. Finding your way out of this labyrinth is no small task. How does one even decide where to learn crypto trading? In the infinity of the internet how do you know who is trustworthy and actually knows what they are talking about?  
There is no shortcut to acquiring reliable knowledge, simple as that. And knowledge is wasted without practice. All the theory in the world won’t help when it’s not implemented into your strategies. Knowledge and practice are two sides of the same coin, neither one of them can provide results without the other. The only way forward is through careful research, information filtering, and experimentation.

So, after scouring every nook and cranny of the internet, here is our answer to the question ‘Where to learn crypto trading?

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What if I told you there is a unique platform which combines educational content, social aspects and a safe space to start trading?
Enter, [NAGAX](https://nagax.com/eu). 

[NAGAX ](https://nagax.com/eu)is a popular platform that offers a secure space for you to store and exchange over a hundred different assets. All these options are available to you in a powerful crypto wallet with affordable fees.
Here, you will also find an abundance of free, top-tier educational resources that are guaranteed to help you ‘up your game’.
However, what truly makes this platform one of a kind, is its integration of **social trading** into crypto exchanges. Social trading allows novice traders to take note of how more experienced traders operate and implement their strategies to their own exchanges. Social trading is a very useful technique for beginner traders, as it encourages good habits based on the strategies of those who have already tasted success in [crypto trading](https://nagax.com/eu/buy-crypto). It serves as a kind of blueprint, upon which one can build solid foundations. However, it is critical not to rely solely on copy trading. It may yield positive results quickly, but it can dull a trader’s instincts for crypto in the long run, therefore the function should be used with caution.
In [NAGAX](https://nagax.com/eu), you can learn and hone your abilities in the most efficient way possible as well as accelerate your rise in the world of crypto trading knowledge.

![2 (1).png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/2_1_23eb0ec8fb.png)

There are probably no platforms that provide more information or a wider range of topics than good old YouTube. Of course, a topic as popular as crypto trading would obviously be a part of that. What is great about YouTube is the freedom that it provides to independent creators all over the world, who are given a platform to speak their mind to anyone. Such freedom does not come without some downsides, though. Whilst there is a plethora of channels discussing [crypto trading](https://nagax.com/eu/buy-crypto), only a handful of them are actually worth your time. 

‘Where to learn crypto trading?’ Trying to answer that question when it comes to YouTube channels is not dissimilar to looking for a needle in a haystack.
One would have to go through dozens upon dozens of uneducated or biased (if not outright malicious) videos, before actually finding a proper source of information.

Instead of putting yourself through that ordeal, why not consider our favorite picks of the bunch? 

After thorough research and careful consideration, some knowledgeable content creators are Coin Bureau and Andreas Antonopoulos. 
Both have become household names in the world of cryptocurrency and are names that probably ring a bell to most. Which is totally justified, as they both provide highly educational content in easy to understand ways. Not to mention, they have published huge amounts of quality content, so it doesn’t matter what your question may be. They have already answered it.
[Crypto trading](https://nagax.com/eu/buy-crypto) is a fierce competition and if you’re going to ‘survive’, you’re going to need every tool you can get your hands on. These channels cover everything from the basics to more nuanced concepts that will give you the edge over the rest of the trading world.

![3 (2).png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/3_2_6b5a6b697e.png)

Does the idea of not only learning, but actually being rewarded for it sound appealing? Then, look no further than Coinbase Earn. When trying to figure out where to learn crypto trading, Coinbase Earn is always an attractive choice, because of its unique reward system. Simply put, you watch educational videos on the crypto of your choice, you fill out a test and earn an amount of crypto for yourself. If it sounds like a sweet deal, that’s because it is.

On a more serious note though, what is especially great about this system is that it incentivises a more hands-on experience because of the quizzes provided by the platform. The results of your tests serve as a more tangible measure of how much of the stuff you watched, you actually comprehended. Understanding the ins and outs of cryptocurrency is an ongoing procedure, but these sorts of tests can assist you in properly monitoring your progress. 
What is even more crucial in Coinbase Earn’s crypto returns, is the fact it allows novice traders to test the waters, without having to risk their hard earned money. 

Many beginner traders are initially hesitant to engage in crypto trading, because they’re concerned about the risks involved. That attitude is not necessarily a bad one to have, but it can certainly cause an aspiring trader’s growth to stagnate. Understanding crypto trading from a theoretical standpoint is ever so important, make no mistake, but the truth is that there is no substitute for the real thing. A trader needs to ‘get their hands dirty’ to truly grasp the pulse of the market. 

Well, in this case you can practice crypto trading, learn about it and risk nothing.
Win - win - win!

# Learn Crypto from the Best

One of, if not the most crucial factor about an information source, is its reliability. The internet is quite literally an endless stream of information, which only makes it harder to distinguish what is worth your time and what is not. Our next suggestion is a particularly hard one to make a case against.

‘[Blockchain and Money](https://ocw.mit.edu/courses/15-s12-blockchain-and-money-fall-2018/)’ is an online course accessible to anyone on ‘MIT Opencourseware’. MIT has been a pillar of excellence and education for over a hundred and fifty years. So, the opportunity to learn from one of its courses regarding cryptocurrency at your own leisure, should be a no brainer.

‘Blockchain and Money’ features twenty-four lecture videos, taught by professor Gary Gensler in a rather approachable manner. You won’t need a degree in economics to be able to follow the lecture. It was actually taught in MIT in the fall of 2018, which means it is still up to date with what is going on in the world of crypto trading. 

The ‘Blockchain and Money’ free, online lecture comes complete with PDF lecture slides, if you’re more of a reading person. It also features a very extensive ‘recommended readings’ section for each part of the lecture, which greatly enhances your understanding of the topic. Not to mention, this helps us answer our question of ‘where to learn crypto trading’ even more. After all, who could be better at picking out what is quality material amidst an ocean of unfiltered information, than an MIT professor?

Each topic of the lecture is divided into clear, straight to the point questions. Trying to answer them is great practice for those aspiring to learn as much as possible and is also an excellent way to accurately tell how well you have actually understood the subjects at hand.

Opportunities like this, should not be missed by anyone hoping to learn the ins and outs of the cryptocurrency industry from the best sources available.


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Crypto trading may be the epitome of a modern study subject, but who says you can’t mix modern and traditional? 
Books have been written about every topic under the sun and a subject as sought out as [crypto trading](https://nagax.com/eu/buy-crypto), could not be omitted. So naturally, books can just as well be the answer to the question ‘where to learn crypto trading’.

First up, we have ‘[Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude](https://www.google.com/search?q=Trading+in+the+Zone%3A+Master+the+Market+with+Confidence%2C+Discipline+and+a+Winning+Attitude&oq=Trading+in+the+Zone%3A+Master+the+Market+with+Confidence%2C+Discipline+and+a+Winning+Attitude&aqs=chrome.0.69i59j69i60l2.852j0j4&sourceid=chrome&ie=UTF-8)’ by Mark Douglas. This book is highly acclaimed by readers and critics alike and for good reason. It touches on the psychological aspects of trading, instead of focusing on a technical analysis. There are various sources for a novice trader to reliably learn about the technical basics of crypto trading. But not as many expand upon the influence human psychology has to crypto trading. We are not machines and neither is the market. The market is comprised of individuals as a part of the general public. Those struggling to turn a profit from their ventures in cryptocurrency. Hence, it is very much affected by the mental state of people.
When it comes to crypto trading, understanding how the human mind works is equally vital and Douglas makes you realize exactly that.

Back on the technical aspects of cryptocurrency, ‘[Mastering Bitcoin: Unlocking Digital Cryptocurrencies](https://www.google.com/search?q=Mastering+Bitcoin%3A+Unlocking+Digital+Cryptocurrencies&oq=Mastering+Bitcoin%3A+Unlocking+Digital+Cryptocurrencies&aqs=chrome..69i57j69i60.992j0j9&sourceid=chrome&ie=UTF-8)’ by Andreas Antonopoulos is a must - read. While it may not be very beginner friendly all the way through, it is essential for any aspiring trader to go through it at least once. Antonopoulos is truly a master of explaining everything down to the very last detail in a comprehensive way that will most definitely keep you invested. Once you have a good understanding of the basics of crypto trading, we suggest you read this book. You’ll be surprised at how much it will make you reconsider the things you thought you knew. It may sound discouraging to suggest you should read through a heap of information, only to have a single book subvert your understanding of it, but that’s intentional.
 After this procedure you will only be all better for it, because it help emphasize a very important lesson:

You will never know everything and complacency is punished.

All the valuable lessons you have learned are useless if you don’t apply them to your methods. The best way to make this knowledge a part of you is through practicing crypto trading. The best thing you can do is to trust yourself and go buy, sell and trade crypto. As we already established, you will never know literally everything and mistakes are part of your growth, so don’t hesitate to put your knowledge to the test!
Even if you reach a level where you are satisfied with your knowledge, you should never stop asking the question you are trying to answer now:
Where to learn crypto trading?

# Buy, Sell & Trade Crypto Effectively

At the risk of starting to sound like a broken record, we’d like to reiterate the importance of applying your gained knowledge to active trading. The best way is by continuously doing your own research.
You will also find it much easier to pinpoint your mistakes and weaknesses and nip them in the bud. Traders who dive headfirst into [crypto trading](https://nagax.com/eu/buy-crypto) without proper knowledge, tend to develop harmful habits that get progressively harder to shake off. After all, you can’t fix something, unless you know it’s broken. Even the most minute details may prove catastrophic and snowball into huge losses and may deter once hopeful traders from realising their dreams.

Anticipating market flow, reading graphics of market trends, taking advantage of pair trading opportunities. All of these vital skills can only be acquired through studying all of the resources cited above, as well as practicing on trade exchange platforms.

# Where to Learn Crypto Trading?

This is a question without a single, definitive answer. It is a question you should keep revisiting frequently along your crypto trading journey. Cryptocurrency is a rapidly evolving industry, therefore knowledge you have acquired in the past may become obsolete after a while. To be successful as a trader, you should always keep up with current events in the market, while also remaining as impartial as possible. It is definitely a thin line to walk, but it is manageable for one with the necessary knowledge and a composed psyche.

Also, remember to take everything you read with a grain of salt, as no source will ever be a hundred percent unbiased. Even if the information a source provides isn’t driven by the financial gains of those behind it, people are people. Our thoughts and actions will always be affected by our emotions to a certain degree. Our goal when asking ‘where to learn [crypto trading](https://nagax.com/eu/buy-crypto)’ is to gain the necessary tools to minimize sentimental influence over our crypto trading decisions.





*Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you cannot afford to lose.*

In this article you‘ll find all the answers about where to learn crypto trading. Find the best sources available and how to turn this knowledge into profit! 

Where to Learn Crypto Trading: Buy Sell Trade Cryptocurrency

Read the latest Crypto news & gain insights from analysis of what's currently happening in the markets around the world.

NAGAX Blog | Crypto

Crypto

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Crypto trading has taken the world by storm over the past decade, but the basic concepts of how crypto trading works still elude the vast majority of people. Everyone has heard of Bitcoin by now, but you’d be surprised by how little people would be able to offer a comprehensive explanation as to what that actually is. The fact you looked up this article suggests that you also fall in the category of those struggling to grasp the essence of how crypto trading works. Fret not though, because in this article we will be going through a step-by-step introduction to how crypto trading works.

The term crypto trading refers to the attempts of an individual (or group) to correctly guess the flow of the market regarding a specific cryptocurrency and act accordingly. [Buying or selling coins](https://nagax.com/int/markets) at the right time is how an aspiring trader strives to generate a profit for themselves. 


Of course, It cannot be stressed enough that, as is the case for pretty much every other sort of investment, the risks involved in trading cryptocurrency are too great for the uninformed.

Understanding the fundamentals of how crypto trading works, what factors may affect the market and how to properly utilize certain tools is of the utmost importance for a trader. 

Diving into the world of the cryptocurrency market without actually understanding how crypto trading works, may as well be considered very risky. It is not hard to make the argument that a well informed guess, while not a certainty, is the far safer option.

The very basic essence of the aforementioned strategies is to anticipate whether a coin’s value will rise or drop and act on its movement beforehand. Just like with any other kind of asset, you want to [buy coins](https://nagax.com/int/markets) when you believe their value is about to rise and sell them when decline seems imminent. 
Although, this is mostly an oversimplification of how crypto trading works, as there are plenty of other variables in place. Said variables when combined with other factors that we will be covering in later sections of the article, tend to make things a bit more complicated. 


![2 (2).png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/2_2_4eff0c5a38.png)


How does margin [trade crypto](https://nagax.com/int/buy-crypto) work? First of all, we need to clearly define what exactly margin trade crypto is. Basically, a margin trade is the act of borrowing coins in order to try your luck in more trades or just a single bigger one. You don’t need a large sum to be able to make trades, as you can enhance said sum by borrowing underlying coins and use them as leverage for your next move.
 
Margin trade crypto is considered a high risk - high reward strategy, since it can amplify both potential gains and losses in an instance. 

A fair question that may come to your mind while reading this is ‘how is it possible to risk someone else’s money for my own profit without any repercussions’ ? 

That is where the liquidation price comes into play. There’s a fixed liquidation price set for its asset given the specific conditions of the trade it’s involved in. When the market reaches that price, the trade will automatically close a position. Liquidation price guarantees that the money lost on a failed trade is the trader’s own money and not the money they borrowed as part of the margin trade.

Let us provide an example to help you understand this better.

Let’s say you buy a token of crypto for 20$ and decide to do a margin trade with double leverage. In this case, you have bought a token with 20$ of your own money and have borrowed an additional 20$, for a total of 40$. In this scenario, the liquidation price would be set at 20$, when normally it would be 0$.

Why is that?
Because, by doubling your initial investment through borrowing money, you have effectively doubled your potential gains as well as losses. Normally, for all of your investment to be lost, the price of the coin would have to drop to 0$. 

It may all sound very complex, but the formula to calculate liquidation price is actually very simple. All you have to do is divide 100 by the leverage (meaning the size of the margin trade). So, 100 by 2 equals 50. Therefore, the liquidation price is set to 50% of the total price (40 by 2 is 20). 

In conclusion, if the coin’s price reaches 20$ (instead of the initial 0$), the exchange closes, securing the loanee’s funds. 
Margin trading is not recommended for beginners as it requires thorough knowledge of the market and lightning quick reactions because of the volatile nature of cryptocurrency. 
*Margin Trade Crypto is available for countries outside Europe.


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Now that you are starting to have a better understanding of how [crypto trading](https://nagax.com/int/buy-crypto) works, let’s get into something a little more advanced. 
A common question among those who start to delve into cryptocurrency is how pairs trading works in crypto. The headline is as simple as it sounds. Pairs trading in cryptocurrency refers to the action of trading two different assets for each other in an exchange. It should be noted that not all cryptos are compatible with each other, meaning that not every exchange is possible. In addition to that, certain cryptocurrencies can only be acquired through trading with other cryptocurrencies. 

Understanding and knowing crypto pairs is a fine art, that while not essential for a novice, it provides an experienced trader with the edge needed to be able to generate profit more often than not. For example, a trader with deep knowledge of pair trades will be able to take advantage of a possible difference in asset prices. 

Also, with this knowledge it is much easier to diversify your asset portfolio, which makes you much more adaptable to any situation and increases your chances of success in this wild market. 
Another important aspect of pairs trading is base currency. As mentioned above, most cryptos don’t offer pair trades for all other cryptos. So, before venturing into pairs trading, one needs to ascertain which assets are accepted for the specific coin they seek to acquire. The accepted crypto you choose for your exchange is your basic currency and it’s used to compare the rate of a coin in relation to another one.


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Once you’ve familiarized yourself with the concepts mentioned above, the natural next step would be to put your knowledge to good use. Of course, turning theory into practice without any hiccups is easier said than done. 

First things first, you’ll need an account on [NAGAX](http://nagax.com). When opening a trade exchange account, you are required to provide sensitive information. Since we’re dealing with virtual stocks after all, signing up couldn’t possibly be as straightforward as opening a social media account for example. Your personal information is obviously, confidential and private, but it is necessary to avoid potential frauds and discourage individuals looking to exploit the market in any way.

To invest in crypto you first need to acquire crypto, thus you will need to make a deposit on your account. This can be done easily via credit or debit card on most platforms. 

Now your trading journey begins. You may understand how crypto trading works to a certain extent, but actually getting started can be overwhelming. Choosing an asset in a sea of possibilities is a daunting task for a beginner. What you need to understand is that the largest and most common coins, such as Bitcoin or Ether, tend to be more stable than other, more niche alternatives. Bitcoin is by no means a guarantee for success or the sole option to kickstart your trading endeavors, but it certainly is a good way to ease yourself into cryptocurrency. 

You can either trust your own acumen and try navigating the market actively or you could entrust your funds to a trading bot. Trading bots are very commonly used, especially among beginners, since they are designed to adjust to your specific needs and pursue the best returns in the most efficient way possible. There are also customization options to ensure the automation works in a way that best suits your needs and ambitions.


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Understanding how [crypto trading](https://nagax.com/int/buy-crypto) works is paramount to your attempts to analyze the market’s flow and being able to catch up on its trends in time to take advantage of them. 

Whilst the general idea of ‘the market’ may sound intimidating and technical, that is not entirely true. After all, the market is not some complex software, but the people involved in crypto trading. The movements of the market are affected by the actions of the ‘big players’ and the reactions of the average trader. The ‘big players’ are those who have invested very large sums of funds in cryptocurrency, whose moves tend to swing the market one way or the other. 

Every kind of market can be monitored and analyzed. The cryptocurrency market is of course, no exception. Certain statistics, when tracked over long periods of time, tend to make patterns and habits more apparent.
The flow of how crypto trading works is obviously not predetermined, but it’s also not entirely unpredictable to the well trained eye.

The ratio of buying orders to selling orders is what determines the direction of the market at any given moment. An increased number of buying orders leads to the rise of prices of assets, while a large number of selling orders results in the exact opposite. Spotting those increasing or decreasing patterns in time and acting accordingly is the key to being a successful trader.

The cryptocurrency market is however, not a constant roller coaster. Usually, after a sharp rise or dropoff in value, assets tend to be more stable, which leads to what is called ‘consolidation’. Consolidation occurs when trades start to temporarily stabilize within a certain spectrum of prices and volatility is lowered. 

We mentioned earlier that the market is not a lifeless entity or a kind of software. The market’s existence is more akin to a collective subconscious. It is the actions of people that drive the market, which means that psychological factors should most definitely be taken into account. The relationship between prices and traders is a vicious cycle. The price of assets influences the psyche of traders and their decision making and vice versa. 

Traders are human beings with feelings, hopes and fears and as such are subject to mood swings. Because of that, it is vital for an aspiring trader to learn to rely on their own knowledge and understanding of how [crypto trading](https://nagax.com/int/buy-crypto) works and not let their feelings dictate their choices. Obviously, this is a skill you could not hope to have from day one, but it is highly important to try and train yourself to be as calm as possible.

In summary, the world of crypto trading is as deep and complex as it is exciting and potentially rewarding. However, it should not by any means be taken lightly, as poor understanding and impulsive movements could result in large losses very quickly. 

Before deciding to take the plunge and try your luck in crypto trading, make sure you are in a good state of mind. Also, try to have a firm grasp of all of the essential components of crypto trading, in order to avoid running into unexpected situations unprepared. 

Good luck in realizing your ambitions!

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you cannot afford to lose.*

Understanding the fundamentals of how crypto trading works, what factors may affect the market and how to properly utilize certain tools is of the utmost importance for a trader. 

How Crypto Trading Works: An Easy Guide to Understanding

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Cryptocurrency adoption is on the rise and financial institutions are starting to realize that they must integrate with this new technology or face their certain demise. Their biggest competitor is DeFi and demand for this crypto niche from both, retail and institutional investors has been high. [AAVE](https://aave.com/) has been leading the charge in this regard and the release of its institutional borrowing and lending platform is only the start. 🏁

## What is AAVE?

You know when you're getting ready to buy your first home? Well, for most people you definitely need a mortgage. You make a down payment of 20% to be able to take out a loan for the other 80% and then pay it off. The money to buy the house comes from the bank. They lend the money, knowing that you will pay interest, and they give that interest back to their lenders. Essentially, AAVE is a cryptocurrency version of that bank. 🏦

**The AAVE network is a [decentralized finance (DeFi)](https://app.nagax.com/academy/articles/what-is-defi-15346202?lang=en) protocol that allows people to lend and borrow cryptocurrencies and real-world assets (RWAs) without having to go through a centralized intermediary. When they lend, they get interest; when they borrow, they pay interest.💱**

**Fun Fact: **
- The word Aave means "ghost" 👻 in Finnish. The name reflects the main goal of the project - the creation of a transparent and open credit infrastructure using distributed ledger technology.

## How does AAVE work?
Users are divided into borrowers and lenders. **Lenders** contribute assets to the liquidity pool 🏊 and begin to earn interest proportional to the interest rate of the asset supply. Let’s say you are a USDT liquidity provider then the interest drips into USDT. 

For a **borrower** to take the right asset from the liquidity pool, they need to leave some asset (ETH, MATIC, etc.) as collateral. You should always leave more than the loan amount as collateral - a similar over-collateralization allows AAVE to always remain solvent. 

The interest rate for lenders and borrowers is determined automatically. For borrowers, it depends on the availability of funds - the total amount of funds present in the pool at a certain time; and for lenders, it corresponds to the rate set by AAVE and is tied to algorithms that ensure stable withdrawals at any given time.

## What tokens does AAVE use?

AAVE issues two different tokens. The first type is called **aTokens**, which are issued to lenders so that they can earn interest on their deposits. 

The second type is called **AAVE**. AAVE serves more than one function and works like several other types of cryptocurrencies, being both an utility token and an exchange token that offers users discounts on fees within the AAVE protocol. Holders of this token can vote for proposals 🗳️ or act collectively as managers 👨‍💼 of the protocol.

In short, the idea of this token is that token holders get to vote on changes to the application as time goes on. Each AAVE token equals one vote. 

## What are the features of AAVE?

**True decentralization:** As a decentralized platform, AAVE users retain full custody and control over their cryptocurrencies.

**AAVE Token:** The AAVE token offers various benefits to holders. For example, people borrowing the token won't have to pay a transaction fee when receiving a loan in denominated tokens. In addition, borrowers who exclusively use AAVE as collateral also receive a discount on transaction fees.

💸 **Flash loans:** Flash loans are one of AAVE’s major advantages - particularly because they require no collateral. Rather than guaranteeing repayment with collateral, flash loans rely on the maturity of the loan. If the loan is used and repaid in full during the same quarter in which it was originated, it is approved. On the other hand, if the loan is not repaid in the same block, the entire transaction fails.

**Margin Trading:** With Margin Trading, users can directly take long and short positions on any of the assets supported. 

**Flexible rates:** Other lending platforms typically lock users into stable or variable interest rates, but AAVE offers a rate switching feature that allows users to switch between two different types of rates. This allows users to get the best interest rate on their loans by choosing between "stable" and "variable" interest rates.

**Repay with collateral:** The latest version of the AAVE protocol also allows users with one of many assets deposited as collateral in the protocol to use them to repay their loans in part or in full.

**Fully transparent management:** AAVE took the time to fully explain the ecosystem, tokenomics, and governance associated with the platform. This open-source approach is intended to generate a higher sense of trust in the community, and it is a solid precedent for other decentralized platforms. It is also proof that AAVE is not only focused on liquidity, but also on providing strong reserves.

## AAVE in the Market Today

AAVE is currently valued at $96.78, close to its ever-so recent high of $108. It is currently up 6.7% in the last 24 hours, and a whopping 17.5% in the last week! It is now 111% up since its low of around $45 from the middle of June, the crypto slump.

Part of its recent growth has been due to the proposal to launch a local crypto-based stablecoin called GHO, which managed to gain 99% of votes in favour of this proposal via governance. We also see on-chain activity from [‘IntoTheBlock’](https://twitter.com/intotheblock?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1554183314109616131%7Ctwgr%5E1247f1cf6e6f128508cbf7203d9b1c1ef77e8c6c%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcryptonewsbtc.org%2F2022%2F08%2F03%2Fwill-aave-put-a-full-stop-to-its-114-rally-soon%2F) for AAVE showing that it is on an uptrend as daily active addresses have reached yearly highs.

For more upside potential, we have resistance levels of around $99 and if we are to see further downsite movement, then the next support is at around $92.

## Is AAVE a good investment?
Investors who believe decentralized lending will continue to grow may find AAVE attractive.

Owning AAVE gives users special privileges on the AAVE platform, as noted above, including transaction discounts and fees; and because Aave is one of DeFi's largest lenders, AAVE has high liquidity.

In terms of stability, durability and commitment to innovation, the AAVE platform continues to be one of the largest in the DeFi space.

Nevertheless, investing in cryptocurrency requires an in-depth understanding of how different platforms, tokens and coins work, as well as the potential risks. While AAVE offers many opportunities for investors and traders, there are no guarantees of positive results given the volatility of the crypto space.

At the time of writing, AAVE is ranked fourth by [DefiPulse](https://www.defipulse.com/address-tag/aave). The idea of peer-to-peer lending to individuals with full anonymity is very promising, especially in today's realities. And the AAVE platform provides a ready-made solution.

## AAVE at NAGAX
If you are interested in the new sector of crypto lending and borrowing, you may be wondering where to buy AAVE. NAGAX is the answer! Our secure and convenient platform is the perfect place to buy cryptos with a variety of payment methods.

Here are 3️⃣ easy steps to buy AAVE on NAGAX:

1. [Sign up](That’s it - you’re all set! 🤩) for a NAGAX account.
2. Buy [AAVE](https://app.nagax.com/wallet/AAVE) instantly with a Debit/Credit Card or USDT through the intuitive NAGAX Wallet or Exchange.
3. That’s it - you’re all set! 🤩


When it comes to buying crypto, you have a lot of options. You can directly purchase $AAVE with a credit/debit card or other cryptocurrencies (USDT, BTC)  in the [NAGAX Wallet](https://app.nagax.com/wallet/accounts). To learn more about buying crypto at NAGAX, please [click here](https://app.nagax.com/help-center/faq/buying-crypto-29/how-to-buy-crypto-with-my-credit-card-15346167?lang=en).

Discover AAVE at NAGAX today! 🚀

![Line NAGAX Blog.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/Line_NAGAX_Blog_ecac62c744.png)

**Summary**
- AAVE is a DeFi lending protocol that allows you to borrow and lend crypto assets using fixed and floating interest rates.
- AAVE is the native governance token of the Aave protocol. If you have an AAVE token, you can vote on the future of the project.
- Aave offers other noteworthy features such as uncollateralized loans, "rate switching," Flash Loan, and unique types of collateral.

![Line NAGAX Blog.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/Line_NAGAX_Blog_ecac62c744.png)

*Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.*

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.*


Cryptocurrency adoption is on the rise and financial institutions are starting to realize that they must integrate with this new technology or face their certain demise. Continue reading to learn what AAVE is in the NAGAX Blog.

Revolutionizing the traditional financial system: What is AAVE? | NAGAX Blog

Cryptocurrency adoption is on the rise and financial institutions are starting to realize that they must integrate with this new technology or face their certain demise. Continue reading to learn what AAVE is and how it impacts the blockchain.

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Revolutionizing the traditional financial system: What is AAVE?

We are seeing inflation 💲 nowadays making everything more and more expensive - more than they have been! Of course, this is not the case for cryptocurrency which until very recently, was going in the complete opposite direction! Let's see why 🤔 in more detail.

Well, crypto experts and investors have publicized Bitcoin (the largest crypto by market cap, and the original) to be a ‘hedge against inflation’ 💸, because of its fixed limited supply of 21 million coins attributing to its scarcity as well as speculative nature; and in theory, Bitcoin’s value should be uncorrelated to the stock market. 

However, cryptocurrencies have been tracking the stock market very closely as of late 👀, letting us know that it isn't as ‘untouchable’ as the early ‘Bitcoiners’ say. In May this year, we saw the untimely demise of the algorithmic stablecoin called TerraUSD 💥 which completely crashed, wiping out $400 billion in crypto market capitalization within days! And adding to the mix for the perfect storm, the timing of global macroeconomic factors such as impending rising inflation and recession fears, investors and traders were left to question how long-term inflation will affect their crypto portfolios. 
To get into more detail, let's first dissect what inflation is and how it affects the world in general before connecting the dots to crypto! 🔗
 
## What Is Inflation?

Inflation simply measures how much more expensive goods & services 💰 have become over a period of time, usually on a year-on-year basis.
 
So, **Inflation** occurs when the price of goods & services rise and each unit of currency gets you less for your money, resulting in the purchasing power of that currency 📉 falling. 

There are several factors that can cause inflation, such as: 
Demand-pull inflation - which is when demand for goods and services is greater than the economy's ability to meet those demands
Cost-push inflation - the increase of prices when the cost of wages and materials goes up
An Increase in money supply (aka money printing)
Devaluation - which is a downward adjustment in a country's exchange rate, ending up in lower digits for a country's currency
 
## What Is A Recession?

A recession is a country’s economic activity basically slowing down 🦥. A reduction in spending generally leads to a recession and these times could last for quite some time, therefore completely restricting the growth of an economy. Economic indicators 📊 like the GDP, corporate earnings, employment change, and more, tend to then fall.

🕵 This then creates a mess in the whole economy and to tackle this, economies react in many ways; one common way to do this is loosening their monetary policies by increasing the 💵 money supply! A recent example of a recession you may remember is when it hit globally in 2008! 

Inflation & Bitcoin; What’s Their Connection?
‘Cryptopians’ believe that allowing the central banks and governments to carry influence on the economy tends to lead to disaster! Recent examples of this are the failing economies of Venezuela, Turkey, and Zimbabwe, which have created less than favorable outcomes 🤦 for their own economies.
 
Bitcoin is resistant 💪 to central banks and their governments because they are decentralized and cannot be tampered with! Also, Bitcoin’s minting process is governed by code that, unlike the Fed, can’t just mint as many Bitcoins as it wants to influence its economy. But is Bitcoin really a good hedge against inflation? 🤷‍♂️
 
## Is Bitcoin Really A Hedge Against Inflation?

As the US Dollar has fallen 📉, Bitcoin has outrun its own value and proved its worth, especially to the early investors! But it is still a highly volatile asset 🥶. Especially as of the start of this year, Bitcoin has been correlated to the US stock market a lot, which performs well 🔺 when the economy is encouraging and slips down 🔻 when consumer spending drops in times of inflation.
 
When inflation had hit its 40-year highs back in December 2021, Bitcoin began to fall. Unfortunately, the question as to whether Bitcoin is a long-term hedge against inflation is tricky to answer, especially without the benefit of hindsight.
 
## Crypto & Long-Term Inflation

Ultimately, crypto is still a very young asset 🐣 to know for sure how inflation will affect it in the long run and as such, it is impossible to call it a good hedge against inflation! There is a possibility that up until now, it has been coincidental 👀 that whenever the comparisons have been made, it only looked like a good inflation hedge at that time. Unfortunately, only time will be able to tell us this for certain!

It is also possible that Bitcoin has created a likeness as a ‘hedge’ since it was first launched, but that's only about 13 years of data (not long in comparison to other asset classes), of which has been during a time of historically low-interest rates. So it is impossible to tell if Bitcoin’s original narrative as a hedge against inflation will still remain moving forward, especially given how the markets and global macroeconomic factors have changed! 😨

If money-printing 💸 keeps happening like it's going out of fashion, then we should see Bitcoin hold its value more over time and turn out to truly be a hedge against inflation, but for now, it would be naive to say for sure! 
 
## How Did BTC React To The Fed’s Interest Rate Announcement 

Looking back in the charts 📊, aggressive rate hikes like what we are currently seeing, especially as of late, will continue to bring further volatility ↕️ to Bitcoin and other crypto prices, especially in the short term!

As we have mentioned, stocks and crypto have been working in correlation 🤝 to each other, especially since the start of the year! Both have been moving together closely at times, and have struggled to gather any strong momentum this year as investors and traders are veering away from riskier assets due to the rising interest rates, surging inflation, and a potential recession.

🎙️ **Breaking News as of writing:** The Federal Reserve has just raised ⤴️ the interest rates by another 75 basis points (0.75%) for the second time in a row, continuing with the most aggressive hikes in 40 years. The rumours and weariness of a 100 basis points hike didn't play out, 😅 which is what many investors were concerned about and this resulted in significant gains.

🟢 Bitcoin is currently valued at just under $23,200 as of writing, increasing by a good 10% over the last 24 hours and recouped the total crypto market cap to over $1 trillion! However, Bitcoin and the rest of the crypto markets are still not out of the woods just yet, as the economy is of course still unstable 🙈 and the next few weeks will prove vital in defining the direction of the markets as a whole. 
 
## So Where To From Here For Crypto?

Whatever we are to see 🕵 in the coming days, weeks, and months from the Fed, corporate earnings reports, and other 📋 economic events and data, it shouldn't really change our approach to our long-term crypto strategies.

❗ This is just another reminder that crypto is volatile and can carry additional risk rather than the more traditional asset classes 💹, especially in these times of economic and geopolitical uncertainty. Even though we have seen quite some positive momentum in the last couple of weeks, the crypto markets are still a far cry away 😭 from last year’s all-time highs. 

🗝️ As there is still so much uncertainty in the global economy, [diversification in portfolios](http://www.nagax.com/) is key to keeping your investments as sound and risk-averse as possible. In fact, it is statistically proven that diversifying could fundamentally reduce your exposure to risk and it is also a good rule of thumb 👍 to make sure your financial bases are covered like your retirement account 👵 or emergency savings 🚨 before putting in any extra cash in riskier assets like crypto! 

## An Alternative Option to Crypto Rewards

With the volatility of the crypto market, staking gives many crypto investors a secondary option to earn in this 🐻 bear market. As the battle of inflation continues on, NAGAX is one of the crypto platforms that ‘build in bear’. With new innovations springing up, NAGAX’s offering stands out as an [all-inclusive crypto trading solution](https://app.nagax.com/register?lang=en). NAGAX offers crypto [staking](https://nagax.com/earn) with 10+ of the most trending cryptocurrencies with a low staking time of only 14-days.


*Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.*

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.*



We are seeing inflation nowadays making everything more and more expensive - more than they have been! Get the latest on inflation and how it affects the crypto market today in the NAGAX Blog.

An Insight into Inflation and How it Moves the Crypto Market | NAGAX Blog

We are seeing inflation nowadays making everything more and more expensive - more than they have been! Get the latest on inflation and how it affects the crypto market today.

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An Insight into Inflation and How it Moves the Crypto Market

[Dogecoin (DOGE)](https://exchange.nagax.com/trade/DOGE-USDT) and Shiba Inu (SHIB) are both known as the leading dog-themed 🐕 meme tokens which are both in the top 20 of the biggest cryptocurrencies, as seen on [CoinMarketCap](https://coinmarketcap.com/). 

Usually, meme tokens are not known for having much value 💲 when it comes to utility 🔧, but as general sentiment has changed over time surrounding meme tokens, these two projects have experienced large growth 📈 and success. *But who comes out on top in this crypto dogfight?* Let's first look at each project separately:

## Dogecoin 
Dogecoin entered the cryptocurrency space in 2013 as a joke 😹 that was based on a Shiba Inu meme (the dog breed 🐕, not the other crypto) that was trawling the web at the time. It was formed by Billy Marcus and Jackson Palmer and created to mock crypto noobs; investors who didn't understand what they were investing in. As successful memes do, it rapidly grew a big following but it didn't have much use or utility behind it to prove its value within the crypto space.

Dogecoin really blew up 💥 in popularity in 2020 thanks to Twitter 🐤 and of course, Elon Musk. With his tweets and play-on-words, this saw DOGE pump to record highs of 12,000% 😮 by mid-2021 and being labelled as “the Dogefather”.

Since then, DOGE’s adoption continues to grow, regardless of the current state of the markets and many large corporations even accept Dogecoin as a form of payment! Once the markets return to a bullish 📈 market, Dogecoin will have a good chance to perform well once again.
 
## Shiba Inu
Shiba Inu (SHIB)  launched 🚀 into the market in August 2020 as the Ethereum-based rival to the original pooch themed 🐕 meme token DOGE, and in just 15 months it was one of the best performing cryptocurrencies recorded to date - increasing in value by 🤯 46 million percent! Taking into account today’s market conditions, SHIB is down 🔻 by about 89% since its October 2021 highs.

Shiba Inu differentiated itself from DOGE by providing actual use cases 🛠️ such as a decentralised exchange, a recently launched Metaverse, and a layer-2 solution to scale and cut down transaction fees. Thus dubbed ‘The Doge Killer’ 🔪🐕.

Just like Dogecoin, SHIB is trading at big lows 📉 right now during this current bear market. However, despite this, the Shiba Inu ecosystem is growing at a fast pace as well as adopting for SHIB payments 💸 which leads to its potential to really rebound well, once the bear market is over!

## What’s the connection between the two meme coins?
To proceed to differentiate between the two canines 🐕🐩, we will outline the similarities and differences between them below. But to summarise, there is no actual link 🔗 between the two coins. They are both built on different networks and they are both essentially competitors in the space, each of them providing its own use case.

### Similarities:
Other than the obvious being they are both dog and meme-based, there are three main similarities that connect these coins that are seen less frequently in the crypto space.

- **PoW Consensus Model**: Both of these coins use a [Proof-of-Work](https://www.youtube.com/watch?v=t8Rd4aJR5Cw) consensus 🌐 algorithm (similar that of Bitcoin), that requires miners to solve computational 💻 problems the fastest in order to validate transactions. Dogecoin was originally hard-forked off of the Litecoin Network and Shiba Inu was built on top of Ethereum’s blockchain. (It's worth mentioning here that in the coming months, this will change when Ethereum moves to a Proof-of-Stake mechanism).
- **Social Media Moguls**: Both of these projects from their inception, have had very active and loyal followers and have also built themselves strong communities 💪 . They also both played a role in bringing crypto to the commercial mainstream 📸, in a fun-witted and light-hearted way having their active community members to thank.
- **Elon Musk**: Of course Elon 🚗 is in this list as both of these meme tokens have greatly benefited from the actions of Musk himself! Now of course, he is known as being a proponent of DOGE, he did also recently send the price of SHIB skywards 📈 after he posted a picture of his very own Shiba Inu puppy dog; which in part, contributed to SHIB’s price reaching all-time highs!  

### Differences:
Apart from these two being animal-based competitors and sitting alongside the biggest cryptos based on market cap, they do have their differences! 

- **Blockchains**: While Dogecoin was built after being hard-forked from Litecoin with its own blockchain, Shiba Inu was built as an ERC-20 token, on top of the Ethereum blockchain. This increases its versatility as it is comparable with all ERC-20 functions, such as access to diversified wallets 👛, smart contracts 📋, decentralised exchanges, and more.
- **Tokenomics**: A very important aspect to be aware of is that these two meme coins are actually very different in their 🧬 ‘DNA’. Dogecoin has no maximum supply of coins with over 5 billion new DOGE entering circulation every year. Now while this makes Dogecoin inflationary as there are new coins coming into existence all the time, it doesn't mean its price is destined to decrease! In actual fact, there's no denying its price potential when considering its history. Shiba Inu however has been capped at a fixed supply of 1 quadrillion coins and has an in-built burning 🔥 mechanism that burns small amounts of SHIB every time the crypto is purchased via the transaction fee. As more coins are bought, the burn mechanism will lower its overall supply making SHIB deflationary, which on paper, gives it an edge over DOGE.
- **Utility**: The two projects have different utilities 🔧. Dogecoin is essentially a P2P payment system providing a medium of exchange. Adversely, Shiba Inu has more flexibility and utility as it can be used within smart contracts and DeFi products. SHIBA also provides a decentralised exchange called Shibaswap, as well as two other tokens called LEASH 🦮 (liquidity token) and BONE 🦴 (its governance token). On top of that, the platform also offers users access to liquidity pools and staking services that earn investors passive incomes.


## The Dogfight Continues…
As we have mentioned above, both of these cryptocurrencies have great communities 🧍🧍‍♀️🧍‍♂️ behind them and each has their own use cases. They are also both, amongst the best meme coins to bet on long term also. 

Many investors and traders are wondering where experts predict 🔮 Shiba Inu will go next or how high ⬆️ can Dogecoin actually go, but the fact is that no one can say for certain. Each investor must decide for themselves which of the two is better suited to their trading and investment needs and enter the market accordingly. However, in terms of performance, utility, and gains; odds are in favour of SHIB to be the winner of the two - due to its deflationary tokenomics favouring long-term value growth.

If you’d like to onboard DOGE or SHIBA, you can do so securely and conveniently through NAGAX today! 


*Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.*

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in loss of your invested funds.  Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.*

Do dog-themed coins have strong fundamentals? There has been a massive increase in their adoption and price lately. Let's take a look at two of the most popular options.

Dogecoin vs. Shiba Inu: Crypto’s Dogfight | NAGAX Blog

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Dogecoin vs. Shiba Inu: Crypto’s Dogfight

Let's face it! At times, the crypto community can be quite ‘tribalistic’. Coin tribes from different sides rarely reach across the divide. Sometimes these differences of opinion can lead to chain splits as these tribes strive to find their own way. ⚔️

One of the most prominent examples of this is [Bitcoin Cash](https://bitcoincash.org/). The most well-known Bitcoin fork that has been trying to forge its own path and identity🔱. But can it really do this and should it be considered? 🤔

BCH was supposed to solve many of Bitcoin's long standing challenges, but such a decision has caused a split in the crypto community. Although the two cryptocurrencies can easily coexist, many argue about which one will be the asset of the future.🔮

How does Bitcoin Cash work? And how did it get separated from Bitcoin? Let's dive in and find out. 🚀

## What is Bitcoin Cash (BCH)?

Bitcoin's popularity has reached unprecedented heights, and it has become a worldwide phenomenon. Don't get us wrong, we still love Bitcoin however… as more and more people use the network, transactions have slowed down and fees have sometimes become a little more expensive 💸. This question about BTC's scalability, particularly its ability to change block size, has divided part of the crypto community.

After Bitcoin ran smoothly for several years, a number of developers working on the original Bitcoin protocol felt that the project was deviating from founder Satoshi Nakamoto's vision of what the cryptocurrency was supposed to become, namely a cost-effective, decentralized payment system. 🔱

The internal conflict peaked in 2017 when the Bitcoin blockchain split into two parts and **Bitcoin Cash** emerged as a separate blockchain.

Bitcoin Cash was born as an offshoot of the Bitcoin blockchain, called a "fork" in the crypto world.

The main purpose of BCH is to be used as a payment system, meaning people can send and receive funds in the same way as its big brother, BTC. However, because it has a larger block size, Bitcoin Cash allows for faster and cheaper transactions. Unfortunately, because BCH is a newer cryptocurrency, not many merchants and businesses accept it as a payment method yet. However, as its popularity grows, it will be able to make its own way forward.

## Characteristics

Bitcoin Cash is a decentralized, peer-to-peer electronic money system that is independent of any central authority, such as a government or financial institution. As such, it represents a fundamental change in the very nature of money. The main characteristics of Bitcoin Cash are:

👐 **Total openness** - No one controls or owns the coin. You don't have to get permission from anyone to use it.

👀 **Anonymity** - Owner identification is not tied to transactions. This allows payments to be made without censorship and without having to reveal the identity, as in centralized banking systems.

👀 **Transparency** - All transactions are recorded in a global public blockchain. Anyone can track the entire history of coin ownership.

🌐 **Distributed network** - Its work is supported by a large community, whose members use special equipment. This ensures reliability and long-term storage of information.

📜 **Clear rules** - Nodes follow a protocol for agreeing on the state of the ledger. It can be changed, but it requires serious action and the support of the majority of network participants. This makes cryptocurrency a system where users create something akin to a social contract.

🏰 **Immutability** - The technology works so that once a record is made in the blockchain, it stays there forever and does not change.

🛡️ **Security** - Proof-of-Work protocol means that miners compete with each other to add blocks to the chain that forms the ledger. The energy costs and high hardware requirements associated with Proof-Of-Work increase the security of the network. 

## The Future of Bitcoin Cash

Over the past year, the cryptosphere has taken a big step forward. The DeFi sphere is actively developing, Ethereum plans to [switch](https://nagax.com/news-and-analysis/articles/ethereum-s-merge-is-just-around-the-corner) to version 2.0 and Proof-of-Stake consensus, and even institutional investors are getting into the game. 

As of this writing, Bitcoin Cash is in 30th place among all cryptocurrencies, according to [CoinMarketCap](https://coinmarketcap.com/currencies/bitcoin-cash/). As it continues to grow, it will start to make more noise in the space, and people will notice. 💥

Many think that the two crypto bros should stand up to each other. In some aspects, yes, they have advantages over each other. However, that does not mean that Bitcoin and Bitcoin Cash cannot coexist. Both are really great options for investors, so make sure you don't sleep on one 
of the coins!

## Bitcoin Cash (BCH) in the Market Today

Bitcoin Cash is currently trading downwards, valued at $99.38. The price is up almost 5% since yesterday's low of $95.29, but is down over 7% since the start of this week! In fact, yesterday’s low was the lowest it has seen since December 2018. Could this be the bottom? Or is there more downside to come?
This price action demonstrates how BCH bears are attempting to accumulate so that BCH can begin to remain in the bearish momentum. The volume to Market capitalization ratio is 0.6252. 

The BCH price needs to attract a bigger number of buyers in order to reverse this bearish momentum it has gathered and stop the price going even lower. If it can do that and bulls can take back control, BCH can start to show more promising price action.

## Is Bitcoin Cash a good investment?

Bitcoin Cash has great utility. It can be used for seamless instantaneous processing and serves as a great vehicle for everyday transactions. This has led to an increase in popularity and acceptance. With the constant advancement of technology, its popularity is increasing day by day.

## Bitcoin Cash at NAGAX

NAGAX is designed to make trading as fast, easy and secure as possible - so you can add Bitcoin Cash to your portfolio in seconds. 

Buying Bitcoin Cash (BCH) is as easy as it can be with NAGAX. Become the proud owner of BCH in 3 easy steps:

1. Sign up for a NAGAX account.
2. Buy [BCH](https://app.nagax.com/wallet/BCH) instantly with a Debit/Credit Card or USDT through the intuitive NAGAX Wallet or Exchange.
3. That’s it - you’re all set! 

When it comes to buying crypto, you have a lot of options. You can directly purchase $BCH with a credit/debit card or other cryptocurrencies (USDT, BTC)  in the [NAGAX Wallet](https://app.nagax.com/wallet/accounts). To learn more about buying crypto at NAGAX, please [click here](https://app.nagax.com/help-center/faq/buying-crypto-29/how-to-buy-crypto-with-my-credit-card-15346167?lang=en).

Discover Bitcoin Cash with NAGAX today! 🚀

## Summary

- Bitcoin Cash is notable for being the first hard fork of Bitcoin, and the project itself has become a crypto to be reckoned with.
- BCH maintains a high rating on the market, and it has created its own identity and mission different from Bitcoin.
- Bitcoin Cash was created to accommodate a larger block size than Bitcoin and allows for more transactions in a single block.
- Despite differences in philosophy, Bitcoin Cash and Bitcoin have many technical similarities. They both use an identical consensus process and have set the supply volume at 21 million.

*Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.*

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.*

The most well-known Bitcoin fork that has been trying to forge its own path and identity. Read on about the famous Bitcoin Cash (BCH) today in the NAGAX Blog!

Fork the System! Bitcoin Cash and Its Path Through the Blockchain Evolutionary Tree | NAGAX Blog

The most well-known Bitcoin fork that has been trying to forge its own path and identity. Read on about the famous Bitcoin Cash (BCH) today!

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Fork the System! Bitcoin Cash and Its Path Through the Blockchain Evolutionary Tree

 The Banque de France 🇫🇷, one of the most influential central banks in Europe, has announced that it plans to create a wholesale digital asset by 2023. This news comes as no surprise given the recent interest and support for CBDCs by Central Banks🏦 across the world.🌐 

## The French Central Bank Involvement in CBDC Experiments

According to the Governor of the Banque de France, François Villeroy de Galhau, the French central bank🏦 wants a functioning wholesale central bank digital currency (CBDC) available to use as early as 2023. Tuesday saw Galhau announce that the bank had begun the second stage of its experimentation of a wholesale CBDC, which could be used to speed up domestic and international banking operations.🚀

Over the past year, the French central bank has collaborated with the private sector👨‍💼 to conduct nine experiments that have demonstrated how a CBDC can be used for wholesale payments, such as cross-border and cross-currency payments🤝 and securities settlements. In addition, the bank has created its DLT technology👨‍💻 and an automated market maker platform that draws inspiration from the DeFi markets. These developments could form the framework for a multi-CBDC platform that brings together various central banks to enable quick, automated, and transparent currency settlement.

## How Does a Wholesale CBDC Operate?

Galhau stated at the 2022 Paris Europlace International Financial Forum (IFF), 🇫🇷
 
*"We want to get closer to a viable prototype, testing it in practice with more private actors and more foreign central banks in the second half of 2022 and in 2023. This work ensures that we stand ready to bring central bank money as a settlement asset as early as 2023."*
 
It's crucial to note that the announcement included the word "wholesale" a few times. In contrast to a conventional retail CBDC, a wholesale CBDC is only used by financial organisations to trade fiat currencies. It does not entail use by the general public as a means of payment for goods and services. So far, it has only been progressing in the direction of an institutional CBDC. But according to The Central Bank, they are also considering a retail CBDC in the future. The governor also stated that retail CBDCs would be established with the aid of commercial banks. He added,
 
*"The Eurosystem should entrust banks with the distribution of digital euros to final users while setting technical, functional and commercial rules – for example, the branding, logo and fee structure."*

## Why are CBDCs Gaining Massive Attention?

Decentralised digital assets are becoming less and less popular among policy-makers 👨‍⚖️and governments; thus, central banks are putting more effort into creating their digital currency💲. Wholesale CBDCs, which are based on distributed ledger technology (DLT) and will facilitate interbank settlements, are increasingly being explored by Central Banks.
 
## Wrap Up- France keeps leading Blockchain Charge

France has been heavily investing in blockchain technology innovation 🧑‍💻and seems to be the most advanced European country🇪🇺 in terms of digital state currency design. Additionally, the French Central Bank has developed a brand-new, proprietary DLT technology and is on the path to achieving its wholesale CBDC goal✅ for 2023. It will also be interesting to see how CBDCs will influence the potential of the current digital currencies in the continent.
 
## Summary 

- The French Central Bank Governor, François Villeroy de Galhau, announces the second stage of wholesale central bank digital currency (CBDC) experiments. 🇫🇷💶
- The operational wholesale CBDC should be available by 2023, according to the French Central Bank, Banque de France.🏦
- The wholesale CBDC could be applied to simplify domestic and international banking transactions.


*Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.*

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.*


Find out the French Central Bank's plans for its CBDC launch and how the bank intends to operate a wholesale CBDC in the NAGAX Blog today.

France Starts Second Stage of Wholesale CBDC Experiments, Eyes 2023 for CBDC Launch | NAGA

Find out the French Central Bank's plans for its CBDC launch and how the bank intends to operate a wholesale CBDC.

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France Begins Second Stage of CBDC Experiments - Eyes Set for  2023 Launch

🏰 Historically, exclusive clubs have existed for centuries with one of the first-ever recorded founded in London in 1693, Mrs. White's Chocolate Shop. These clubs have appealed to people over the eons, mainly due to one’s desire and goal to be a part of something exclusive 🤴, meaning something hard to attain and therefore benefitting from; either in terms of making sought-after contacts in social circles 🍻 and/or making bank 💰! 

Thus, it was only a matter of time before some sort of ‘exclusive club’ would be attached to the crypto space. One that became popularised in a big way since 2017 was a club for Bitcoin known under a variety of names, with the most popular being 🎩 **“The 21 Million Club”**. Although, with Bitcoin getting to all-time highs of +$60k 📈, this club almost became a myth 🌫️. Well, till now! And as prices stabilise, or even drop more, murmurs of this elite group will surely resurface! (Watch this 👀 space!) 

This **21 Million Club** is only accessible to those 🎟️ who are fortunate enough to own 1 whole Bitcoin ₿ (otherwise known as being a wholecoiner), with each one costing around $20,000 at the time of writing. Bear in mind that membership to this club is purely a symbolic status and there is no badge 📌 to pin on your shirt, magic handshake 🤝, ancient rituals 🗣️, or venue to gather at 🏯. Well, as far as we know! 🙄

*So why is this so-called meta-club if you will, so exclusive?* Aside from the financial 💲 requirement that is.

The reason is, that there will **only** ever be just less than **21 million bitcoins** 🤖 in existence (20,999,987.5769 to be exact), with the last coins to be minted around the year 2140. However, if you factor in all the bitcoins that have been lost 🧭 forever via misspelt addresses, lost, damaged hardware wallets, or stolen funds; the actual number of coins in existence is considerably smaller. Some have even estimated that almost 4 million bitcoins have been lost out of the 19 million currently circulating in the market.

![lostbitcoins (2).png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/lostbitcoins_2_420d3a9592.png)
*The table above shows how many bitcoins are gone out of existence forever.*

## What else makes this status exclusive?

Well, we first have to take into account some of the 🐋 ‘Whale’ addresses. Starting with ‘original coins’ as listed in the image above, which is of the ‘father’ 🕺 of Bitcoin, Satoshi Nakamoto. This is the pseudonym given to the person or group behind the creation of Bitcoin. Nakamoto holds just over 1 million bitcoins, where there is speculation that they will never be spent! 
We must also factor in that there are many other 🐋 whale wallets to take into account, where massive amounts of bitcoins are held by individuals and/or institutions. Not to mention all the fractional accounts where plenty of people hold less than one bitcoin (known as ‘Satoshis’) which further increases the difficulty for the possibility of becoming a member of this so-called 🎩 club.
Therefore, in reality, the number of people who can gain access to this 21 Million Club is actually a LOT less than 21 million people, making it truly an exclusive club! In fact, it is speculated that the number of possible members of the club are estimated to be around 800,000 people only! 🏅 And when compared to the population of the world currently which is around 7.7 billion, it becomes arguably one of the most exclusive clubs to belong to 😏! 

## Want to level up further?

If all that is not enough to entice you 😳, there's another even **more** exclusive group called the **‘One in A Million Club’**. To join, all you need to own is 21 Bitcoins at a cost of $420,000, or more at the time of writing! *Now that would be something, wouldn't it?* 🤩
So what is all the fuss about then?

Well, in case you **haven't** noticed…Bitcoin is currently down 🔻 about 70% from its all-time high of almost $70,000! A lot of hopes and dreams ☁️ at that point in time for many new investors to ever own 1 BTC and join the elite group was simply a far-fetched dream and only for the very wealthy 🤵🧐. 

Since the kick-off of the bear market 🐾 and as prices started to decline fast 📉, many were dollar-cost averaging; buying more at cheaper prices to average in their own buy-in price! Now, thanks to ⛓️ on-chain data from companies like [glassnode](https://glassnode.com/), we can see that the number of addresses holding more than 1 Bitcoin is at the highest 🔝 it's ever been! 

![glassnode.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/glassnode_bd9365671d.png)
*On-chain data from Glassnode shows the number of addresses holding at least 1 BTC at all-time highs.*

This just goes to show that there is still an ever-growing interest in Bitcoin, despite its 70% drawdown. Increasingly so! In fact, as the chart above shows, the lower the price gets - the more people/addresses achieve that status of joining 🎟️ The 21 Million Club! Meaning that as the price has declined, more and more people have been able to afford 1 whole Bitcoin. Sometimes, opportunity arises through patience! 😌

![bitcoinDistribution.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/bitcoin_Distribution_df4c9cf403.png)
*Bitcoin distribution data from Bitcoin’s ‘Rich List’*

🕵️‍♂️ As you can see from the above table, there are now 724,484 addresses that have at least 1 BTC which is only 1.7% of all addresses out there. It is equally important to note that one address does not necessarily equal one person, but the figures are staggering nonetheless!  

## The BTC HODL’r List

🔎 Here are some further stats that put the whole thing into perspective: only about 6.5% of all Bitcoiner’s own more than 0.1 BTC and there are only around 2,111 wallets in the world that hold more than 1,000 coins.

When it comes to the uber rich, there are only around 90 wallets that have more than 10,000 bitcoins in them ✨. 

👉 If you want to take a look at the current Bitcoin ‘Rich List’ above, then you can see the top 100 wealthiest wallets [here](https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html).

## So what does this all mean?

Well, in short, the “21 Million Club” is more of a 🙌 symbolic status than an actual physical club you join. However, the ideology behind this is that there are approximately 51 million ‘millionaires’ in the world and only a potential of 21 million Bitcoins that will ever exist (far less as we explained above). The idea here is to own at least one of the ‘21 million’ Bitcoins to be in circulation, and get ahead of the rest of the millionaires 👔 in the world as there will not be enough to go around!

At the end of the day, simple economics tells us the rarer 💎 an item is, the higher ⤴️ its value (mostly). Rising demand in the face of limited supply makes for sky-high prices. And, there’s only so much of the oldest cryptocurrency in the world, Bitcoin, to go around.

So, with all that being said, more and more people are slowly achieving their goals of owning 1 BTC, joining this 🎩 elitist group. And as price has dropped significantly from the start of the year, attaining this goal is getting far far easier. 

❓ Are you part of the 21 million club? Or are you on the way? 👉 Wherever you stand, read our awesome blog on the [‘top 5 reasons to be on NAGAX’](https://nagax.com/news-and-analysis/articles/top-5-reasons-to-be-on-nagax)! 




*Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.*

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.*


Do you know what the 21 Million Club is? Bitcoin has its own exclusive club for some crypto holders. Read on to learn more with NAGAX and maybe even you could join!

Bitcoin’s “The 21 Million Club” | NAGAX Blog

Do you know what the 21 Million Club is? Bitcoin has its own exclusive club for some crypto holders. Read on to learn more and maybe even you could join!

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Bitcoin’s “The 21 Million Club”

Scaling and operability - two buzzwords that are discussed way too frequently in the crypto space. One of the main challenges that do not allow mass distribution of the blockchain in the world is that blockchains practically cannot interact with each other. They lack what is called "blockchain interoperability" or in *human* - "compatibility". This is exactly what [Polkadot](https://polkadot.network/) is trying to solve!

Polkadot has quickly become one of the most popular and certainly one of the largest cryptocurrency blockchains in the entire industry.💥

It seems that the hype around Polkadot is only increasing, so we took the liberty of putting together a comprehensive overview to help those who are less familiar with the project and what it is all about. 📖📚📝🧠

## Polkadot's Origins

The Polkadot story begins with the [Ethereum](https://ethereum.org/en/) project, or more precisely, one of the co-founders of Ethereum, Dr. Gavin Wood (PhD in Computer Science). He has over twenty years of experience as a software developer both, inside and outside the cryptocurrency space.‍

In January 2016, Wood left Ethereum to create a project that could meet the expectations that Ethereum had failed to meet 🛠️. He then founded the [Web3 Foundation](https://web3.foundation/projects/), which researches and develops decentralized technologies, including **Polkadot**.

Polkadot was first launched in May 2020 as a **Proof-of-Authority (PoA)** protocol. In PoA-based networks, transactions and blocks are verified by approved credentials known as ‘validators’. However, on June 18, 2020, the network quickly abandoned the Proof-of-Authority consensus algorithm and switched to the [Proof-of-Stake (PoS)](https://www.youtube.com/watch?v=wxL2bA1PhJE) protocol which many of us know well. 🥰

## What is Polkadot?

Simply put, Polkadot is a blockchain protocol that connects different blockchains. It is a platform where existing blockchains are created or integrated and data can be exchanged between networks quickly and securely. 

- 🎯 **Polkadot's mission** is to change the current structure of the internet to Web3: a fully decentralized web. To do this, Polkadot connects private and public blockchains so that it is possible to exchange any type of data between any type of network. 

## Dissecting Polkadot…

So how does Polkadot work? 🤔

The basis of everything - **Relay Chain** ⛓️ - is the base network of Polkadot, all blockchains are connected to it, which, by the way, are called **parachains**.

**Parachains** - short for "parallelized chain" - is any blockchain connected to Polkadot. There are also **Bridge chains**, which are designed to connect blockchains that do not use Polkadot governance protocols. For example, the well-known Bitcoin or Ethereum.

Last but not least, there are also **Parathreads** 🧵. *Para what?* Parathreads are similar to Parachains in terms of development and different from them in terms of economics. You can think of Parathread as a pay-as-you-go system where a project can deploy capital to access the security, connectivity, and scalability of the Polkadot blockchain for a specific period of time. In essence, Parathreads lower the barrier to entry for projects to gain access to the benefits of Polkadot’s shared security structure. With Parathreads, Polkadot becomes more accessible to projects that perhaps don't possess the startup capital or the community strength to bid for a Parachain slot. This essentially gives them the opportunity to join the Polkadot network and benefit from higher throughput functionalities, security, and liquidity. 

By the way, Polkadot has a test network called [Kusama](https://kusama.network/), which is a testing ground for all Parachains, updates, and everything else that will later appear on Polkadot. It can be said that Kusama acts as a kind of sandbox for developers who want to test early versions of new Polkadot projects. In a nutshell, Kusama functions as an ecosystem for innovation, while providing a test network environment.🚀

But we'll talk about Kusama in a separate article, so be sure to watch this space. 👀

Now, for the roles and responsibilities. The **Relay chain** - *the heart of Polkadot* - is essentially a blockchain that uses a special subcategory of Proof-of-Stake (PoS) called **Nominated Proof-of-Stake (NPoS)**. NPoS selects sets of validators, allowing nominators to choose the best validators based on past performance. This system is designed so that nominators can vote on which validators behave in a non-threatening manner. 

The Polkadot consensus is supported by four types of network members:

1. **Collators** - The blockchain production process starts with a Parachain collator. The collator is similar to the validators in any other blockchain, but the collators do not need to provide security guarantees, instead, Polkadot does. Each collator maintains the state of the relay chain and its Parachain and manages the queue of transactions passed between the parachain and the Relay Chain. 
2. **Validators** - Validators are randomly assigned to accept block candidates from Collators, verify the information in the block, and republish the block candidate to the Polkadot relay chain. Once a validator validates a block, it also validates and changes the block state of the relay chain, moving transaction data from the input queue of the source Parachain to the output queue of the destination Parachain. 
3. **Nominator** - Nominators are those who cannot directly participate in the transaction validation process, so they contribute tokens to the Validator of their choice. Nominators receive a proportional share of the validator's reward based on their share of the validator's bonds, so nominators have an interest in choosing the Validator most likely to receive the highest reward. 
4. **Fishermen** - their duty is to monitor the network and report bad behavior to the Validators. 👮

![Polkadot-Consensus_NAGAX Blog.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/Polkadot_Consensus_NAGAX_Blog_d2413236cf.png)


❗ By the way, if a validator has not behaved according to the consensus rules, they will lose their staked tokens. In addition, nominators who entrusted their tokens to DOT will also lose their stake. This motivates choosing only decent and reputable validators and behaving according to the rules. 😇

## What is DOT?

*What is the $DOT token for?* The network's native token, DOT, performs three main functions:

⚖️ **Governance.** Essentially, DOT token holders have full control over the protocol, with privileges that on other platforms are reserved for miners. Determining the structure of transaction fees, decisions to change the protocol, adding or removing parachains, and so on. Polkadot's governance is based on the concept of weighted voting, where DOT owners vote their shares in referendums proposed by the community. All changes to Polkadot require majority approval. 

🔥 **Staking.** Proof-of-Stake consensus enables users to participate in staking, an activity that benefits them and the blockchain as a whole. By design, Polkadot rewards DOT token holders who play by the rules. 

🤝 **Bonding.** This is a key concept that can be translated as creating a strong "binding" relationship with the Proof-of-Stake network. You express your commitment to the network by blocking a certain amount of your network token for a certain period of time. You are signaling to the network that you are a trusted member of the network and that you accept the rules and regulations of the network.

## Is Polkadot a good investment?

There is no one-size-fits-all answer to this question. Whether or not you think DOT is a good investment depends on whether you think it will rise, and if so, by how much and how soon. Since cryptocurrencies are very volatile users should conduct their own research.

Polkadot is a unique asset that has quickly gained popularity in the cryptosphere. It uses revolutionary technology to further decentralize the blockchain and enable the creation of new circuits. 

Polkadot has distinguished itself by creating cross-chain functions to seamlessly connect different blockchains. Future projects and the use of Polkadot will ultimately determine the price.

Polkadot is a strong force in the crypto world and has limitless potential. 💪

## Polkadot in the Market Today

Polkadot is currently trading at $7.87 which is about 23% over its recent lows of $6.35 from just two weeks ago. As with most cryptocurrencies, these are the lows that have re-visited levels of December 2020. 

With the price being just over the immediate support level of $7.82, DOT will want to climb to its first major resistance of $8.45 to really cement in bullish momentum and rise higher. If the market as a whole has indeed seen its bottom, then we should continue to see upwards momentum. 

But of course this will be subject to how Bitcoin reacts to the global macroeconomy. If we are to see the opposite and price break down lower, the whole number support level of $7.00 will be what many traders will be keeping a close eye on. Eyes will also be on the ascending triangle that has formed as you can also in our chart below, to see which way price will breakout! 

![DOT_NAGAX Blog_What is Polkadot.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/DOT_NAGAX_Blog_What_is_Polkadot_208ed91c8d.png)

## Polkadot at NAGAX

Despite the arrival of crypto winter, many investors believe there is plenty of room for future growth in the cryptocurrency market, especially when it comes to Polkadot. ⚡

With NAGAX's easy-to-use features, you can invest in crypto assets with ease. To buy [$DOT](https://app.nagax.com/wallet/DOT) on NAGAX, follow these three steps:

1. Sign up for a NAGAX account.
2. Buy DOT instantly with a Debit/Credit Card or USDT through the intuitive NAGAX Wallet or Exchange.
3. That’s it - you’re good to go! 

When it comes to buying crypto, you have a lot of options. You can directly purchase $DOT with a credit/debit card or other cryptocurrencies (USDT, BTC, ETH)  in the [NAGAX Wallet](https://app.nagax.com/wallet/accounts). To learn more about buying crypto at NAGAX, please [click here](https://app.nagax.com/help-center/faq/buying-crypto-29/how-to-buy-crypto-with-my-credit-card-15346167?lang=en).

Discover Polkadot with NAGAX today! 🚀

![Line NAGAX Blog.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/Line_NAGAX_Blog_ecac62c744.png)

## Summary

Polkadot's growth in popularity and profits has been staggering since its launch in May 2020. It has since become one of the top 15 cryptocurrencies by market capitalization, according to [CoinMarketCap](https://coinmarketcap.com/currencies/polkadot-new/).
Polkadot connects blockchains to each other. Polkadot is not a single token, but a growing collection of interconnected blockchains.
Polkadot could become a key component of the next-generation Web3 architecture.

![Line NAGAX Blog.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/Line_NAGAX_Blog_ecac62c744.png)


*Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.*

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.*


Is Polkadot the long-awaited project the crypto sphere needs as a bridge from blockchain to blockchain? Continue reading the NAGAX Blog to discover what exactly is Polkadot and DOT.

Connecting the Utopian Blockchain Dots with Polkadot | NAGAX Blog

Is Polkadot the long-awaited project the crypto sphere needs as a bridge from blockchain to blockchain? Continue reading to discover what exactly is Polkadot and DOT.

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Connecting the Utopian Blockchain Dots with Polkadot

Cryptocurrency marks the beginning of a whole new era for finance and technology. However, as innovative as blockchain is, it faces certain challenges, including high fees, scalability issues, low bandwidth and more. Several projects in the DeFi space are competing to become the first web scalable blockchain and provide users with the best experience by addressing these common problems. One of them, gaining momentum in the DeFi community, is [Solana](https://solana.com/). This censorship-resistant, open-source blockchain uses a comprehensive set of technologies to increase scalability and create a robust network for building decentralized applications (dApps). 

Popular cryptocurrencies such as Bitcoin and Ethereum have notable limitations in terms of scalability. *Why?* It is impossible to scale the time it takes to reach a consensus on a particular order of transactions. Therefore, alternatives such as Solana have emerged as promising solutions for such challenges.

Solana's sunny days aren’t over! Here we take an in-depth look at what Solana is, how it works, why there is so much interest in Solana, and how you can make the most of this new, fresh world.🚀

## What is Solana?
The Solana (SOL) platform was founded back in 2017 by Anatoly Yakovenko. Before founding Solana, Yakovenko worked at Qualcomm. Together with Eric Williams and Greg Fitzgerald, they created a new process to solve traditional bandwidth problems that existed in Bitcoin and Ethereum blockchains.

**In a nutshell**, Solana is a blockchain platform known for its speed and efficiency. SOL tokens are its native cryptocurrency and are used to pay transaction fees. Since its launch in 2017, Solana has become one of the largest cryptocurrencies in the world. It is one of the top 10 cryptocurrencies by total market value, according to [CoinMarketCap](https://coinmarketcap.com/).

## What makes Solana stand out?

What sets Solana apart is its incredible speed. The company claims that the system can process up to 710,000 transactions per second. By comparison, the same Bitcoin network conducts between 3 and 7 transactions per second. It seems like a cosmic figure even compared to the most recent, third-generation cryptocurrencies like [Cardano](https://cardano.org/). However, so far, the claims are at odds with the reality. The maximum speed, which was actually achieved, is still lower and amounted to 60,000 transactions per second. 

It’s also worth noting that Solana is a **Layer 1 blockchain**. That is, all transactions are on the same blockchain layer. When it comes to Layer-1 solutions, they change the rules of the blockchain’s protocol to increase its transaction speed and capacity and thus accommodate more users and data. 

All transactions on the platform are made in SOL, their native cryptocurrency. It serves both to pay commissions online, maintain smart contracts, and create decentralised apps.

**Why SOL is being called the "killer" of ETH?**
Solana is considered by many to be Ethereum's top competitor (aka ‘the killer’). In addition to its high throughput, Solana could compete with Ethereum and other blockchains for several reasons:

- **⚡ Solana is many times faster than its competitor and hundreds of thousands of times cheaper.** According to [Messari.io](https://messari.io/asset/ethereum/chart/txn-fee-avg), as of early June 2022, the average transaction fee on Ethereum is $9.26, while in Solana it is $0.00025. Blockchain is especially beneficial for NFT collectors since it is necessary to use a smart contract to process non-fungible tokens, which increases the gas fee in Ethereum even more.
- 💡🦾**The project is better suited to creating smart contracts, decentralised applications, and NFT solutions** because of the programming language used which allows developers to easily and quickly port computer protocols and applications from other blockchains to Solana.
- 🪐**The project ecosystem is expanding much faster.** While Ethereum is still launching more projects, it faces many challenges due to poor scalability, low bandwidth, and expensive transactions. That's why Solana became the third-largest blockchain in terms of blockchain assets in just one year of full operation; managing to raise more than $14B in its wallets. According to [DefiLlama](https://defillama.com/chain/Solana), as of early June 2022, the total money placed in Solana blockchain-based DeFi projects stood at $4B.
- ⚖️**Solana is more stable and uses fewer resources.** All blockchains perform the same tasks - storing and exchanging data. Nevertheless, when the number of users on the network exceeds several hundred million active users, it becomes an incredible burden, which can slow down or even stop its operation as a result. Solana has solved this problem by using the Turbine Protocol. The Turbine Protocol facilitates the transfer of data to blockchain nodes by splitting up all the data into multiple ‘chunks’. This allows Solana to solve the bandwidth problem, as well as improve the overall ability to conduct transactions faster.
- ♻️**The high environmental friendliness of the blockchain.** Solana uses the Proof-of-Stake (PoS) mechanism, which is much more energy-efficient than the competing algorithm. This means that Solana is much preferable to PoW blockchains such as Bitcoin, Ethereum, Dogecoin, etc.

## Is SOL a good investment?

Solana cryptocurrency delivers many revolutionary solutions that help make Solana one of the most efficient Layer 1 blockchains on the globe. The Solana team launches many unconventional innovations, each focused on bandwidth, decentralisation, and security. 

With the speed and low cost it offers, Solana is positioning itself as a faster and cheaper alternative to Ethereum. SOL has grown significantly since its inception, and analysts believe the project still has a long way to go. 

However, Solana is a high-risk investment. Cryptocurrencies are highly volatile, and many seemingly great projects tend to be going bust. 

## SOL in the Markets Today
The Solana price is currently hovering around the $33-$35 range, having had a decent increase over the last week from the $25 support level which is where the bulls took control. 

A low had formed near $26 where the price started a steady increase, forming a clear move above the $30 resistance level. SOL’s price also broke above a major bearish trend line on the 4-hour chart and any more gains from here could send the price of Solana towards the next major resistance zone of $50. 

On the downside, a break below $30 could very well ignite a sharp decline where we might see prices head back to the $25 level.

The recent price increases could have been subject to the latest news of the Solana NFT marketplace ‘Magic Eden’ closing a series B funding round for about $130 million. This new capital will be used to expand the marketplace and certainly be bullish for the Solana ecosystem. 

## Solana at NAGAX
If you're still wondering where to buy [SOL](https://app.nagax.com/wallet/SOL), wonder no more!  [NAGAX](https://nagax.com/) makes it easy for traders to buy, sell, and trade Solana and other hot cryptos. 

Follow the three steps below to learn how to buy SOL on NAGAX:
1. [Sign up](https://app.nagax.com/register?lang=en) for a NAGAX account.
2. Buy SOL instantly with a Debit/Credit Card or USDT through the intuitive NAGAX Wallet or Exchange.
3. That’s it - you’re good to go! 

When it comes to buying crypto, you have a lot of options. You can directly purchase $SOL with a credit/debit card or USDT in the [NAGAX Wallet](https://app.nagax.com/wallet/accounts). To learn more about buying crypto at NAGAX, please [click here](https://app.nagax.com/help-center/faq/buying-crypto-29/how-to-buy-crypto-with-my-credit-card-15346167?lang=en).

Discover Solana with NAGAX today! 🚀

![Line NAGAX Blog.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/Line_NAGAX_Blog_ecac62c744.png)

## Summary
- Among next-generation blockchains, Solana solves key problems such as low network speeds, high transaction costs and security issues.
- Solana is a fast cryptocurrency that many see as a potential alternative to Ethereum.
- Solana’s native cryptocurrency, SOL, has a market capitalization of more than $12 billion.
- Impressively, SOL is one of the top 10 coins on the crypto charts.

![Line NAGAX Blog.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/Line_NAGAX_Blog_ecac62c744.png)


*Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.*

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.*


Fasten your seatbelts because we’re taking a look at the super-fast, Solana! Continue reading to learn all about Solana and its native coin, SOL in the NAGAX Blog today!

Solana: A Crypto Slayer in Disguise? | NAGAX Blog

Fasten your seatbelts because we’re taking a look at the super-fast, Solana! Continue reading to learn all about Solana and its native coin, SOL.

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What is Solana_NAGAX Blog.png

Solana: A Crypto Slayer in Disguise?

> “For those properly prepared, the bear market is not only a calamity but an opportunity”  -Sir John Templeton, Investor, Fund Manager and Philanthropist

Newcomers to the cryptocurrency space and even some veterans 🗝️ might be unsure with what their next move should be as the market has become more volatile. Bitcoin (and its counterparts, the altcoins) have been caught in a cascading downward momentum, the worst it's seen in years. Analysts and investors alike are going through many indicators and metrics to see at which point the market may potentially turn back to being bullish once again! 

As of writing, Bitcoin is currently down about 70% from its all-time high in 2021, falling to as low as $17,600 last Saturday putting it below the average investor cost base of $23,500. This means prices have dropped enough to test even the long-term holders who, up until now in the crypto winter of 2022, were mostly in profit with their investments. 

Now, in order to learn how to fight off the bears (*not literally of course!*), we must learn to understand what a bear market 🐻 is.

![Line NAGAX Blog.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/Line_NAGAX_Blog_ecac62c744.png)

## Bear Market 101

A ‘bear market’ is simply a term used to identify a direction/sentiment of a market. To put it into more context, it is when falling prices of stocks or crypto markets decline 📉 over a considerable amount of time with losses of at least a 20% drop from recent highs. When a prime asset such as Bitcoin falls in price, the small and medium-cap altcoins also experience bearish price losses due to being correlated to BTC. 

When in a bear market, you will find that supply is greater than the demand, the [confidence of investors](https://app.nagax.com/academy/articles/what-is-the-crypto-fear-and-greed-index-15393352?lang=en) is low and prices start a downtrend pattern. Bear markets can be tricky for inexperienced or new traders. It can be relatively difficult to predict when the end of a bear market is happening 🔮 or to find the exact price bottom to ‘buy 🛒 the dip’.  

So here’s a crucial question: *What makes today’s crypto market a bear market?*

## The bears are in control!

The 🌐 global crypto market cap is currently down from its all-time high (ATH) of $3 trillion to currently sitting at just over $900 billion as of writing. The number one cryptocurrency, Bitcoin, is down by approximately 70% from its ATH made in November last year and [Ethereum](https://app.nagax.com/staking) (the top altcoin) is down by 78% from its ATH of $4847.

So it seems that all cryptocurrency holders are indeed in a full-blown bear market! The whole crypto market had recently been experiencing double-figure percentage losses 😬 with Bitcoin dipping to as low as $17,600 briefly, on 18th June for the first time since November 2020! Taking into account the bearish market sentiment, many investors are understandably worried! 

But it is not as ‘doom and gloom’ as it first seems and it doesn't mean you can't survive in a bear market, after all the crypto market never stops or sleeps! So what are some things you could consider doing in a bear market to survive this cycle’s crypto winter?

## Why bear markets are not as bad as they first seem

Bear markets can seem scary and intimidating 👻 for novice investors, and even those that are experienced, as nobody really enjoys watching the value of their portfolios go down; but on the flip side of the coin 💰 (pardon the pun), bear markets can also provide good opportunities to put your money to work for the long haul while cryptos are trading at low prices!

Usually, newcomers to the space embark on their crypto journey based on hype via social media such as ‘crypto twitter’ or out of FOMO (fear of missing out), leading them to buy the tops and sell the bottoms; however, bear markets can provide a great opportunity to enter the market as most coins trade at a lowered price. Additionally, bear markets can provide good opportunities for traders to short their assets 🔻 as prices see large swings. Please note, since the crypto markets can be very volatile, shorting assets is something mainly experienced traders take up because while shorting the market can be profitable, it comes with its risks! 

## So how can you take advantage of a bear market?

Well first, the most important thing to do is always be prepared for any eventuality, whether in a bull or bear market. For example, never invest more than you can afford to lose. Also, try to keep your emotions out of it (bears can smell fear), that instinct may have your total balance in the red!

Now, as for some strategies? For starters, consider thinking long-term ⌛ with your investments! This will always help get you through a bear market. Remember, markets bounce back eventually. That being said though, many new investors often make the mistake of exiting too early from their positions by selling due to fear (also known as having ‘paper hands') 🛑 and seeing their invested amount reduced, which can be a bad way to go about bearish environments.
 
Unfortunately, there are no ways for certain to tell when a bear market is finishing, however, there are signs you can look out for 🕵🏼 like looking at the global economy and seeing if that is showing any bullishness or signs of recovery. You should also consider learning how to do crypto analysis, at least at a basic level to better understand the market’s movements.
 
👉 Master the art of cryptocurrency with [NAGAX Academy](https://app.nagax.com/academy/articles) and learn all the basics of blockchain today!
 
Some other strategies that investors and traders use in bear markets are first and foremost, taking advantage of the firesale 🔥, and buying crypto at discounted prices. One day in the future when Bitcoin is at a very different price point, whether you bought at $10k, $20k or $50k won't seem like such a big deal! A popular way of taking advantage of the discounted market is to add to your chosen asset by dollar cost averaging (DCA). This is a strategy where a buyer invests a total sum of money in small increments over time instead of all at once. The goal here is to take advantage of market downturns without risking too much capital at any given time. This will alleviate the stresses of trying to find that perfect price to buy in but will also leave you less exposed to the ⚠️ risk of market volatility.
 
🔐 [Staking](https://nagax.com/earn) is also another great example of how to grow your portfolio with little effort and risk in a bear market. Instead of just holding your crypto coins, put them to work! Staking allows you to earn interest, similar to how a bank account works. Your deposited coins are used to verify transactions, and for doing so you will get rewarded! Why not check out our explanation video [here](https://www.youtube.com/watch?v=gcSP9zaTLB0) on how staking works and see how you can earn up to **20% interest in rewards** with NAGAX safely, with no fees!
 
Lastly, trying to always catch the bottom 🍑 can be considered a pointless exercise in a market as volatile as the crypto space. Sometimes a bear market ends as soon as the bottom has been reached. But try to catch the bottom or buy that final dip, you could end up investing at a higher price when the assets start to recover 🤦🏻‍♂️. That being said, in the end, it is undeniable that bear markets can be slow and unpredictable and are usually influenced by many external factors such as economic growth, investor psychology, and world news or events (as we have recently seen!). As there are an abundance of recommendations on how to invest in bear markets in every corner you look at, it is always crucial to DYOR (do your own research)!

![Line NAGAX Blog.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/Line_NAGAX_Blog_ecac62c744.png)

## Summary

- We are in confirmed bear market 🐻 territory
- Although bear markets are not great for the markets in the short-term, there are ways to benefit from them in the long-term
- Thinking long-term with your investments is key, but strategies like staking and DCA can help…if done carefully
- DON'T try to catch the bottom, take advantage of the dips

![Line NAGAX Blog.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/Line_NAGAX_Blog_ecac62c744.png)

*Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.*

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.*


Your Bear Market guide has arrived! Read on to discover ways to enhance your trading experience in this downfall of a crypto market with NAGAX Blog today.

How To Survive A Bear Market | NAGAX Blog

Your Bear Market guide has arrived! Read on to discover ways to enhance your trading experience in this downfall of a crypto market.

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How to Survive a Bear Market

The world of cryptocurrencies can be a bit intimidating and full of technical language that can put off some potential investors or traders. One cryptocurrency, however, adds a bit of quirkiness - Dogecoin, the crypto named after the Doge meme that was popular in 2013.

Is $DOGE heading to the moon or is it flying too close to the sun? Now that's a question crypto-enthusiasts have been badgering about for months.👀

We'll be taking an in-depth look at Dogecoin and explaining exactly what’s with all the buzz around the joke coin. 

Let’s unpack this! 💪

## What is Dogecoin?

Dogecoin is one of the thousands of cryptos that have emerged recently. But unlike many other digital currencies that were created to solve a problem, DOGE was literally created to make fun of Bitcoin and the silliness of buying a digital asset without any assets or cash flow backing it up.

The symbol of the coin is the well-known Internet meme of a Shiba Inu dog looking quizzically into a camera.

![Dogecoin-NAGAX-Crypto-Shiba Inu.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/Dogecoin_NAGAX_Crypto_Shiba_Inu_00d42a131b.png)

The project's original intent was to be a quote parody of all the serious clone coins that were trying so hard to differentiate themselves but all seemed the same.

**🎓Quick breakdown:**

- **Crypto cloning** is the process of creating a second, identical, digital currency. Such coins are often created to improve on existing cryptocurrencies by adding new features or fixing perceived issues.

Dogecoin was the self-deprecating example of a clone coin trying to be the next Bitcoin and on December 6, 2013, the first block was mined.⛏️

On the technical side, the development of Dogecoin largely used the principles laid down by Bitcoin. The founders of the coin, Jackson Palmer and Billy Markus, were very familiar with Bitcoin and how it uses blockchain technology to accomplish its tasks.📝

Palmer and Markus were able to weave their sense of humour into the main coding of the coin. In particular, they changed many of the terms used in the ecosystem. For example, Dogecoin miners are called *diggers*.👷

**Rough overview of the tech behind Dogecoin:**

- Dogecoin can handle around 30 transactions per second 💣
- Average Transaction fee is about 1 cent 💲✂️
- DOGE’s current Block Time is 1 minute ⚡ 

👉Master the art of cryptocurrency with [NAGAX Academy](https://app.nagax.com/academy/articles) and learn all the basics of blockchain.

**Elon Musk and DOGE - A *Twilight-esque* Story?**

The planet's richest man, Elon Musk, although not directly involved in the creation of the coin, has become one of its iconic figures. After his first tweet about the coin, the price of $DOGE has more than doubled.

![Musk-Tweet-NAGAX-DOGE.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/Musk_Tweet_NAGAX_DOGE_3247f7c2d2.png)

The post blew up the markets and the $DOGE value instantly skyrocketed, but Musk didn't stop there and published several more posts.

![Musk-Tweet-NAGAX-DOGE.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/Musk_Tweet_NAGAX_DOGE_00b64072a6.png)

As the years go by, Musk does not seem to stop honouring his feelings for DOGE. Thanks to his upcoming [SpaceX](https://www.spacetv.net/live/launch-of-spacex-falcon-9-with-doge-1-mission-to-the-moon/) mission, the coin is poised to create history in 2022. According to media reports, Elon Musk is sending satellite DOGE-1 to the moon. The entire mission will be funded in Dogecoin.‍🚀

This mission will demonstrate the application of cryptocurrencies beyond Earth orbit and lay the foundations for interplanetary trade. 👽🤭

## Is $DOGE a Good Investment?

There has always been a lot of scepticism surrounding the project, but thanks to the booming cryptocurrency industry and an active community, the project is not only in the top 20 by capitalisation but is also one of the most mentioned in the media and social media.

While DOGE offered investors a "wild ride" for months in early 2021, it has done little since then. Loyal adherents still plan to HODL the crypto in the hope that it will go higher again. However, when you are trying to decide how to invest your money, it is important to ask yourself whether a particular asset is right for your portfolio.

The million-dollar question now is: will the dog have its day? HODLers of the world's leading meme coin are hoping for a repeat of 2021 when community efforts helped the token's price soar into the stratosphere. 

## How to Buy Dogecoin at NAGAX

Want to know where to buy $DOGE and join a fast-growing crypto community? Well, NAGAX is here to be your easy-to-use gateway to the blockchain revolution! 

Become a proud owner of $DOGE in 3 simple steps:

1. Open an account with NAGAX
2. Buy DOGE Instantly with Debit/Credit Card or USDT

When it comes to buying crypto, you have a lot of options. You can directly purchase $DOGE with a credit/debit card or other cryptocurrencies. To learn more about buying crypto at NAGAX, please [click here](https://app.nagax.com/help-center/faq/buying-crypto-29/how-to-buy-crypto-with-my-credit-card-15346167?lang=en).

3. That’s it – you’re good to go!

Pretty easy, right? Now you're ready to get started! ‍🚀


*Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.*

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.*

Dogecoin is the hottest and quirkiest crypto on the planet. Created as a joke in 2013, Dogecoin has soared to wild heights. Read more today in the NAGAX Blog.

Dogecoin: It’s Time to Take the Crypto Joke Seriously!

Dogecoin, a crypto that literally started as a joke, has put some doubters to shame thanks to meteoric growth