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The worst places to keep your crypto wallet seed phrase
A look at the best practices and worst hiding places for what could be the most important and wealthy possession in a home — a seed phrase.
Under the mattress, in the seams of a piece of luggage or even rolled into a cigar, what are the worst and best ways for keeping a seed phrase safe? The key to unlocking and recovering cryptocurrency, a seed phrase, should be secured and safe.
Especially now that prices are low and the crypto tourists have checked out, it might be time for a crypto security spring clean. Security starts with a seed phrase, sometimes called a recovery phrase.
There’s no denying it: Bitcoin and the crypto space writ large are in the clutches of a bear market. Since Do Kwon’s Terra experiment went up in smoke, a crypto contagion has choked the most reputable of exchanges, causing many self-sovereignty advocates to chant, “Not your keys, not your coins.”
Indeed, hardly a day goes by that another “trusted” crypto lender freezes customer withdrawals. From Singapore’s crypto lender Vauld to Thailand’s crypto exchange with 200,000 customers, Zipmex, to the world-renowned Celsius exchange, many centralized lending platforms have suffered similar fates, ensuring heartbreaking consequences for customers in 2022.
These circumstances are timely reminders to look after one’s own keys and to ensure they are in a safe place. So, while prices are low and trust in centralized exchanges (places that claim to look after crypto), also hits rock bottom, there is no better time to up the security of one’s crypto assets. Read More
Croatian retail giant sees rise in crypto payments despite the bear market
Croatia has been enjoying the growing cryptocurrency adoption despite the ongoing crypto winter, Konzum's director of business applications Ines Barbir said.
Payments in cryptocurrencies like Bitcoin (BTC) have been on the rise at Croatia’s largest supermarket chain Konzum this year despite the ongoing bear market.
After debuting crypto payments in 2021, Konzum has seen an increase in purchases made with crypto payments, the firm’s director of business applications Ines Barbir told Cointelegraph.
Konzum officially started accepting cryptocurrencies as payment for its products in December 2021, allowing customers to pay online with nine cryptocurrencies like BTC and Ether (ETH) as well as Tether (USDT) and USD Coin (USDC) stablecoins.
The supermarket chain has since expanded the crypto payment option to several self-checkout cash registers in physical pilot stores. Konzum is also still working with the local crypto payment firm Electrocoin to bring crypto payments to all 700 physical stores across Croatia.
According to Barbir, the rollout of the new payment method was implemented successfully, and Konzum has been working on expanding its crypto payment option. The executive didn’t specify the exact numbers of payments’ volume growth since debuting crypto payments. Read More
Muse to Release Next Album on Polygon-based NFT Platform Serenade
British rock band Muse’s upcoming new album will be released as a limited-edition NFT on the Polygon-powered platform Serenade.
"Will of the People," the ninth studio album of the iconic rock band Muse, will be released on August 26 as an NFT and is set to be the first-ever release that will enter the charts in the UK and Australia.
Formed in 2014, Muse won NME Award for Best British Band in 2007, 2010, and 2011, MTV Europe Music Award for Best World Stage Performance in 2019, and Grammy Award for Best Rock Album in 2011 and 2016, among many other accolades.
Back in 2020, Mused also worked with Dapper Lab’s CryptoKitties project to create digital collectables.
"Will of the People" will be sold via Serenade, the “eco-friendly” platform that helps artists to capitalize on the NFT boom.
“Muse have always had a great appetite for innovation and pushing the boundaries of how they deliver their music to fans, so using this technology to elevate the experience of their new album made a lot of sense,” Serenade’s CEO Max Shand told Decrypt. Read More
Aave DAO Approves Creating GHO Stablecoin
The stablecoin will be backed by over-collateralized assets that continue to earn yield.
An overwhelming majority of Aave DAO voters have approved creating a new stablecoin.
The proposal, submitted by Aave Companies, was backed by 99.9% of voters, who pledged half a million AAVE in approving the measure to create GHO, a stablecoin that will be backed by collateral consisting of other cryptocurrencies.
Aave is a decentralized, non-custodial market protocol that enables users to borrow and lend cryptocurrencies. While providing liquidity to the cryptocurrency market, users can earn passive income on digital assets allocated to a smart contract. It is open-source and boasts $9.8 billion in liquidity, according to Aave’s website.
Users looking to mint GHO first will deposit cryptocurrencies accepted by Aave. People who borrow GHO against crypto assets will still earn interest on the underlying collateral used to mint the stablecoin. The lending protocol will also charge interest on loans taken out in GHO, with payments going back to the Aave DAO.
The deposits users allocate in order to mint GHO will have to be greater than the value of GHO they receive, meaning that the loans will be over-collateralized. When users repay a borrowing position or are liquidated, the GHO lent will be burned from the protocol. Read More
We have a lot to be grateful for within Markethive. It’s like stepping out of the rat race into an oasis of humanity at its best. As an inbound marketing, business-based blockchain platform with an inherent entrepreneurial spirit, we have all the tools to get our message out to the whole world. We have a social media interface with a collaborative ethos rarely experienced on legacy social media.
We are starting to see new integrations in the blogging section in preparation for the customized, more intuitive interface and dashboard of Markethive and, of course, the Markethive Wallet that will facilitate the Merchant accounts for members as well as personal transactions, the Vault, etc.
The new-look Blogcasting Hub is located at the top of all blogs in the system. Blogcasting is a term introduced by Markethive and is an enhanced broadcasting system. In the traditional broadcasting sense, only the people who physically subscribe to your blog or newsletter are usually notified of your updates via email.
With this blogcasting system, your social networks are informed of your blog as and when you publish them. What this means is the potential reach is into the millions. Read More
Blockchain Games Least Affected by Market Turmoil: DappRadar Report
Blockchain games and Metaverse projects appear to have been coping with the bear market a lot better than other niches of the market.
The bear market weeds out unnecessary frills and enables legitimate projects to stand out but also cripples portfolios of investors, both big and small. The ongoing market conditions are no different. But one vertical that market participants remain bullish on is – blockchain games and metaverse projects.
According to DappRadar’s report, blockchain games have sidestepped the ensuing bear market and instead ramped up their count by 9.51% in the second quarter of the year. In fact, $2.5 billion were invested in both Q1 and Q2.
June will go down in the history as the worst month for the industry, and even the blockchain gaming space felt the pain registering the lowest per month investment with only $500 million. Weighing on the latest figures, DappRadar’s CEO Skirmantas Januskas commented,
“We think that blockchain gaming is going to be key in the next two or three years and is going to bring at least 100 million new users into crypto, for one simple reason, they connect NFTs and DeFi. With all three combined, blockchain gaming, NFTs and DeFi you will see something genuinely new and exciting.” Read More
SWFT Integrates Crypto Payment Ramp of Alchemy Pay
SWFT Blockchain has announced the integration of the crypto on/off ramps mechanism by Alchemy Pay. It will allow users to purchase cryptocurrency directly through fiat currency, and additionally, users can exchange fiat currencies for digital currency through the remittance of their bank accounts.
The integration comes as a useful feature not just for the platform but for the ecosystem as a whole. Many users hesitate to register on a platform out of the feeling that they will have to give up their fiat holdings easily. However, that is not the case anymore, and they will still be able to access the fiat currency until they are sure of proceeding with the cryptocurrency.
SWFT’s blockchain and AI technology support over 400 cryptocurrencies. These include Bitcoin, Ethereum, Arbitrum, Polygon, BSC, Polygon, and Terra, to mention a few out of many public and private blockchains. Read More
Crypto Wallet Maker Ledger Eyes Fresh $100M Raise: Report
Ledger is in talks to raise $100 million. Sources say that business is growing as investors turn to cold storage to safeguard their crypto.
Hardware wallet manufacturer Ledger is currently in talks to raise at least $100 million, according to a report this week by Bloomberg that cites “people familiar with the plans.”
Ledger’s hardware wallets are a form of cold storage, meaning that they allow crypto investors to store their digital assets offline in a physical device. This grants users the power to steward their own crypto without having to worry about the liquidity of their provider.
According to Bloomberg’s source, Ledger’s business is still growing at a time when lenders and exchanges are having well-known liquidity issues.
Ailing crypto companies often halt customer withdrawals to stop a potential bank run. Singaporean exchange Zipmex is the latest example, but lenders like Vauld and Celsius have both resorted to the measure recently, with the latter filing for bankruptcy not long after.
These concerns have, according to sources, boosted Ledger’s business as individuals turn to self-custody solutions rather than keeping their funds on a centralized platform. Read More
How DAO Web3 Platforms Can Make Venture Capital More Accessible
Venture capital (VC) investors make a lot of money as they invest a lot of it in the early stages of a company’s life. They can invest before projects are fully developed and before they reach the public.
Naturally, this is a significant advantage over regular people who want to invest. However, DAOs and Web3 technology can change this and make VC more accessible to the general public. That’s precisely what we are here to discuss today, but first, we need to explain how VC works.
Venture capital, or VC for short, is two things — financing assistance from investors to startups and a form of private equity.
This type of equity typically comes from affluent investors, large financial institutions, and investment banks. They use VC funds to offer financial or sometimes technical and managerial assistance to startups and small companies looking to grow.
Naturally, VC is always risky as its goal is to fund businesses of enormous potential — startups offering a unique service or technology and companies that have the potential to become truly massive.
In most cases, VC funds provide financial assistance in the early stages of a company’s development, but they can also come in later stages. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
