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How to Avoid a Crypto Nightmare

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October could also be over, however Halloween is a singular and memorable vacation. 

In true CEX.IO spirit, we organized a creativity contest on Twitter granting USDT tokens to 5 fortunate winners who submitted enjoyable and artistic tales of their scariest crypto nightmares. 

Our winners have been certainly inventive, but additionally raised professional crypto-related considerations. Subsequently, along with celebrating their creativity, we additionally needed to place their minds comfy and present how one can take care of/keep away from every of those crypto fears and points. 

Beneath are the winners’ tales, and our staff’s professional recommendations on take care of them. 

1. Crypto fraudsters

How you can keep away from this difficulty

Cryptocurrencies are common globally and probably profitable. As such, they’ll signify fertile soil for nefarious and fraudulent market actors. It’s crucial to do not forget that performing ample analysis and due diligence is one of the simplest ways to guard your self from being scammed.

Moreover, do your greatest to not take crypto recommendation from web boards, people on social media, celebrities, or anybody else you don’t know effectively. 

In actual fact, some of the widespread methods crypto fans fall sufferer to those scams is by responding to affords that promise to “double your investments with one click on.” Such scams typically contain sending crypto to unknown teams or people, which most of the time leads to customers shedding their hard-earned crypto.

As a substitute, your most secure wager is to deal with established and famend people and firms with strong monetary credentials (like CEX.IO).

2. Forgetting pockets passwords

How you can keep away from this difficulty

Most crypto wallets these days characteristic computerized logins, like FaceID or Thumbprint ID (relying in your sort of smartphone). For those who’re utilizing a laptop computer/pill/desktop pc, you seemingly even have a code. Alternatively, you may additionally think about using trusted custodial wallets, to not point out that, with CEX.IO, you may at all times restore your passwords.

3. Misplaced crypto alternatives

How you can keep away from this difficulty

The cryptocurrency market is unpredictable and risky. In different phrases, there isn’t a assured technique to acknowledge when an asset’s worth will go up or down. 

Nevertheless, we monitor the markets 24/7 to watch and analyze developments in an try to know market conduct. 

To that finish, portfolio diversification could possibly be a smart alternative for threat administration. Additionally, staking is an alternative choice out there on our platform that has the potential to reduce the consequences of market volatility. You’ll be able to study extra about it right here. 
Additionally, in the event you’re concerned with studying extra about perspective tokens, take a look at CEX.IO College, or bookmark our weblog for normal crypto highlight items.

4. Hacking

How you can keep away from this difficulty

Hacking is a scary factor to expertise at the present time of the web, and much more so with regards to crypto. Nevertheless, there are quite a few methods you may shield your crypto pockets from being hacked. 
Examples embody storing your crypto in a “chilly” pockets, repeatedly altering your password, utilizing 2-factor authentication, and avoiding public WiFi when accessing your crypto belongings. For max security, we suggest combining two or extra of those strategies to make sure your crypto portfolio is completely protected.

5. Market crash

How you can keep away from this difficulty

As talked about above, monetary markets — crypto included — are unpredictable. Additionally they transfer in a cyclical trend, which means crashes happen periodically. Regardless, not all is misplaced (pun supposed) even when the markets go down, as a result of there are methods to reduce your losses.

(because the previous saying goes – “a loss isn’t a loss till you promote”).

For instance, the oldest rule within the investing guide is to solely make investments funds you may afford to lose. Concurrently, contemplate having an emergency fund to cushion the blow of a market downturn. Whilst you’re at it, selecting to diversify your funding portfolio will help keep away from the second oldest rule of “not placing all of your eggs in the identical basket.” 

Lastly, you might even contemplate selecting solely cryptocurrencies with long-term potential (such because the oldest/greatest names within the recreation) or that provide a tangible answer past speculative worth.

That is under no circumstances an exhaustive listing of all of the dangers that exist within the cryptocurrency area. However, we hope that by sharing these experiences, and the hard-earned knowledge they’ll impart, you’re higher outfitted to take advantage of knowledgeable choices alongside your crypto journey.

Disclaimer: Info supplied by CEX.IO is just not supposed to be, nor ought to it’s construed as monetary, tax or authorized recommendation. The chance of loss in buying and selling or holding digital belongings will be substantial. You must fastidiously contemplate whether or not interacting with, holding, or buying and selling digital belongings is appropriate for you in gentle of the danger concerned and your monetary situation. You must consider your stage of expertise and search unbiased recommendation if obligatory relating to your particular circumstances. CEX.IO is just not engaged within the supply, sale, or buying and selling of securities. Please seek advice from the Phrases of Use for extra particulars





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Crypto Exchanges

LINK staking in community pool filled within the first 2 hours

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Haru Invest

Normal entry for staking locally pool for distinguished oracle community Chainlink crammed up inside two hours of its launch. At press time, all allowed 22,500,000 LINK tokens price round $15.84 million have been staked.

 

The staked LINK will stay locked till Staking v0.2 is launched in roughly 9-12 months. Node operators and group members can earn 4.75% rewards by growing the safety of Oracle companies resulting from staking. 

link pool
LINK pool

The group pool allowed anybody to stake as much as 7,000 LINK per handle, topic to the preliminary pool cap of 25M LINK and different necessities. Among the many 25 million, 22.5 million LINK had been assigned to group holders on a first-come, first-served foundation, whereas 2.5 million had been assigned to node operators. 

Earlier than the group entry, Chainlink staking early entry began on Dec. 6, and over $75 million in LINK tokens had been staked within the first 24 hours. The limited-size v0.1 early entry staking pool allowed group members who met the Early Entry Eligibility Record to stake as much as 7,000 LINK. 

LINK staking is producing numerous curiosity

Within the two weeks main as much as the staking of LINK, Delphi Digital reported that just about 17.5 million LINK had been moved from exchanges, demonstrating excessive anticipation.

As customers turned to take the final chunk of LINK staking, some confronted difficulties.

On the time of writing, the LINK worth stands at $7.04, up 3.08% in 24 hours, with a complete of 751,474 holders.

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Do Kwon asks if Genesis had provided $1B for SBF to attack UST

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Haru Invest

Terra founder Do Kwon questioned if Genesis Buying and selling supplied $1 billion UST to Sam Bankman-Fried and Alameda as “ammo for a peg assault.”

In a Dec. 8 twitter thread, Kwon requested whether or not Genesis Buying and selling purchased $1 billion UST from Luna Basis Guard as a result of it had an “curiosity to take part within the Terra Defi ecosystem.” Nonetheless, he believes that the lender gave these USTs to Alameda to fund the peg assault.

He added that Alameda borrowed 9 figures in Bitcoin from Voyager when UST depegged and requested different massive corporations to borrow extra BTC. Kwon questioned if these funds had been used for shorting BTC to handicap LFG reserves.

Additionally, Kwon highlighted that probably the most vital forex contraction for UST occurred in February 2021 when Alameda offered $500 million UST inside minutes throughout the MIM disaster to empty its Curve swimming pools.

Neighborhood questions Kwon’s declare

A number of crypto neighborhood members have disagreed with Kwon’s declare, with some pointing out that UST and LUNA would have collapsed whatever the assault.

Others noted that Genesis had publicity to 3AC, which makes it dumb for it to fund an assault on UST since this was what led to 3AC’s chapter. The hedge fund’s implosion considerably impacted Genesis Buying and selling’s liquidity.

Nonetheless, Kwon claimed that 3AC solely had about $100 – $200 million publicity to Luna, which is comparatively small for a multibillion-dollar hedge fund.

Authorities are investigating SBF for market manipulation

In the meantime, The New York Occasions revealed that federal investigators had been trying into whether or not SBF manipulated Terra UST and Luna’s worth to profit Alameda and FTX.

The report added that the investigation was nonetheless within the early levels, and it’s unknown if the prosecutors have discovered any wrongdoing. In keeping with the report, this was a part of a extra in depth investigation into FTX’s collapse and all of the components that contributed to it.

US lawmakers have invited the embattled founder to seem for a listening to voluntarily. The lawmakers have threatened to subpoena him if he fails to honor their invitation.

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Terra Fails to Attract Investors, Despite Major Ecosystem Updates! What’s Next for LUNA Price?

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The large fall that slashed the Terra (LUNA) worth to half in the course of the first few days of November continues to prevail as the costs stay throughout the bearish affect. On the similar time, the amount additionally has dropped considerably which has additionally hindered the rally to a bigger extent. In the meantime, the event exercise over the platform stays inside a good vary whatever the LUNA worth motion. 

In a contemporary replace, the brand new alpha bundle for TerraDart which is a Dart SDK for writing functions interacting with the Terra blockchain rolled out a brand new bundle referred to as alpha. The alpha bundle is now prepared to make use of and can be utilized to speak with the LUNC blockchain inside Flutter & Dart environments. 

Together with the alpha bundle, a brand new on-chain proposal has been rolled out referred to as Knowhere/Soil Grant Proposal where-in the builders search 187,500 LUNA for the sleek functioning of the community and in addition launch new options each 6 to eight months. 

Regardless of a few important upgrades, the value stays largely unaltered. As per the info from Santiment, the event exercise over the platform has barely risen from all-time low ranges. 

Santiment

It needs to be seen that the event exercise decreased when a minor rise within the LUNA worth was registered beforehand. This resulted to be extraordinarily dangerous to the token because the group shifted its focus because the social quantity additionally dropped miserably. Furthermore, the volatility of the asset additionally dropped by greater than 40% which worsen the state of affairs. 

Nevertheless, LUNA’s each day chart continues to stay bearish as a lot of the indicators level towards the value might deep dive into the bearish sea very quickly. The value which is hovering round $1.62 with a slight bounce of 4.13% in comparison with the day past’s shut might fail to achieve the pivotal resistance at $2. The next rejection might nonetheless drag the Terra worth beneath $1.5 very quickly. 



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