A popular influencer insists that buying a particular token is the smartest financial move you will make this year.

Everywhere you look, someone is pointing you toward the next big crypto opportunity that may give more returns than Bitcoin. It feels exciting, fast, and full of promises. It also feels like everyone else is getting rich without you.

This feeling has a name. The fear of missing out, often called FOMO, has become a driving force in the world of cryptocurrency.

Many people today are drawn into digital assets by the hope that their money will rise quickly in value.

Phrases like going to the moon have become part of everyday conversations about crypto. But behind all the excitement, there is also a need for understanding.

Crypto can be rewarding, but it can also be confusing and risky. To make wise decisions, we need to look beyond the hype.

The Superbowl Effect and the Power of Influence

One moment that showed the cultural rise of crypto was Superbowl LVI. During one of the most watched events in America, several crypto companies paid for prime advertising time.

They wanted millions of viewers to see that crypto was the future and that they should join in. Coinbase, a crypto exchange, even displayed a simple QR code on the screen. This alone led to more than twenty million visits to their website in one minute.

But the hype had consequences. If a viewer invested one hundred dollars in Bitcoin on the Monday after the Superbowl, that investment would be worth about forty eight dollars by July of that same year. This means more than half the value disappeared. If all twenty million viewers had invested one hundred dollars each, their combined loss would be over one billion dollars.

This example reveals something important. Excitement can push people into quick decisions, but excitement does not erase risk. Crypto can rise fast, but it can also fall fast. Understanding it is essential for anyone thinking about investing.

What Exactly Are Crypto Assets?

Crypto assets are digital assets. They exist only in electronic form. While they were originally created as a way to make payments, many people today treat them as investment tools. The idea is simple. You buy a crypto asset like Bitcoin or Ethereum and hope its value increases.

But this hope comes with risk. A risk is the chance that your investment may lose value. This has happened many times in the crypto world.

Bitcoin, the first and most popular crypto asset, has experienced large rises and large declines. Even though it is considered one of the most stable coins, it has lost almost seventy percent of its value during some periods.

Crypto asset market capitalization refers to the total value of all units of a particular asset. In November 2021, all crypto assets combined reached a value of about $2.9 trillion dollars. By mid 2022, almost $2 trillion dollars of that value had vanished.

Some people, including well known investors like Bill Gates, question the idea of crypto as a strong investment. Gates argues that crypto value depends mainly on what someone else is willing to pay, rather than on a product or service that benefits society.

To understand crypto properly, it is helpful to look at where it comes from.

The Technology Behind Crypto

Distributed Ledger

Blockchain technology forms the heart of crypto assets. A blockchain is a digital ledger that records transactions. For example, when people buy or sell Bitcoin, the information is stored on one shared public ledger.

Every transaction must be verified before it becomes official. This is done by a network of powerful computers called miners. Miners solve complex math problems to confirm each transaction and are rewarded with new Bitcoin.

Once a group of transactions is verified, it is placed into a block. Each block connects to the one before it, creating a long chain. This is why it is called a blockchain.

Decentralized System

The blockchain is not stored in one place. It is spread across many computers around the world. This means no single government, company, or person controls it.

The creator of Bitcoin designed it this way to avoid control from any central authority. Unlike traditional digital payments like PayPal or bank transfers, Bitcoin allows people to transact directly with one another. This is known as peer to peer interaction.

Cryptographic Protection

The word crypto comes from a Greek word that means hidden. Cryptography protects information and ensures secure communication. With crypto transactions, special encryption keys act like digital signatures to confirm a user is the real sender. This creates trust without needing a central authority.

Why So Many Crypto Assets Exist

Once the world understood blockchain technology, developers began creating many different crypto assets. These assets are like different apps built on similar technology, each with a unique purpose.

Here are common types of crypto assets:

1. Cryptocurrencies like Bitcoin are used for payments, storage of value, and trading.
   
2. Stablecoins like Tether are designed to keep a stable price by matching the value of another asset such as the dollar.
   
3. Meme coins like Dogecoin are inspired by internet humour and often have no clear use.
   
4. Non fungible tokens often called NFTs represent ownership of unique digital objects.
   
5. Utility tokens like MANA allow users to participate in specific digital platforms.
   

The variety shows both creativity and speculation in the crypto world.

The Dark Side of Popularity

Crypto has become a target for scams. The Federal Trade Commission reported that scammers stole more than one billion dollars in crypto from forty six thousand people since 2021. Young adults between 20 and 49 years old are most affected. Almost half of these scams began with a message or advertisement on social media. Many scams promise huge profits but end in complete loss. Once you send your crypto, there is no way to reverse the transaction.

Regulation and Protection

Authorities are paying closer attention to crypto. The United States Securities and Exchange Commission, also known as the SEC, has increased its efforts to supervise crypto activity. In 2022, the agency doubled the size of its crypto enforcement team.

At the time, President Biden also issued an executive order to address both risks and benefits of crypto.

Despite these efforts, crypto is still not monitored as closely as traditional investments.

Smart Choices Before You Invest

If you ever choose to invest in crypto, consider these points:

1. Only use money you can afford to lose.
   
2. Be cautious of celebrity endorsements. Many are paid promotions and may not reflect real financial wisdom.
   
3. Do your own research before trusting online suggestions.
   
4. Protect yourself from scams by avoiding offers that promise guaranteed profits.
   

Celebrities and influencers may also invest in the assets they promote, which means they benefit from price increases. Their priority may not be what is best for you.

Learning Crypto the Easy Way with MEXC

You can learn about crypto in a simple and confident way by using MEXC. The platform provides clear learning materials, practical guides, and beginner friendly explanations that help you understand how crypto works without confusion.

MEXC Learn offers lessons on key topics such as blockchain, trading, and risk management, while the MEXC app gives you real time market updates that help you learn by observing real activity.

Through its live sessions, community discussions, and helpful support team, MEXC makes it easy for anyone to grow from a curious beginner into an informed crypto user.

Conclusion

Cryptocurrency began as an innovative way to make payments. Over time, it became a global investment trend. Blockchain technology changed how we record transactions and opened the door for thousands of digital assets. Yet crypto remains unpredictable. It has created wealth, but it has also caused significant losses.

To navigate the crypto world safely, knowledge is essential. Look beyond the hype. Study the risks. Be aware of scams. Never invest more than you can handle losing. Crypto is fascinating and full of potential, but it demands careful understanding.

That understanding begins with asking the right questions and not letting excitement make decisions for you.

Risk Disclaimer: The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.

The post Understanding Cryptocurrency Beyond the Hype appeared first on Tech | Business | Economy.

The event offered a mix of practical sessions, interactive quizzes, and open community discussions.

Building Confidence in Blockchain

For many Nigerians, blockchain often feels distant or overly complex. The Lagos Community Education Day set out to change that.

Through interactive lectures and live demonstrations, attendees were introduced to:

• How blockchains work ‒ from Bitcoin to Ethereum and beyond.

• Wallets and safety ‒ comparing custodial and non-custodial options, and how to secure funds.

• Deposits and withdrawals ‒ with examples relevant to Nigeria, including P2P trading, card payments, and mobile money.

• Hands-on trading tools ‒ live demos of spot, futures, and copy trading.

• Research methods ‒ showing participants how to verify projects before investing.

Opening the Door to Global Stocks and ETFs

A standout discussion centered on how crypto exchanges are expanding beyond cryptocurrencies to include access to stocks and ETFs.

Speakers explained that tokenization now makes it possible for Nigerians to gain exposure to global companies like Tesla or Microsoft, or invest in index funds that track entire markets.

By combining stocks and ETFs with blockchain technology, the barriers to international investing are lowered, allowing young people to see opportunities beyond local markets.

“Education is at the heart of our mission,” said Vugar Usi Zade, COO at Bitget. “By creating spaces like this in Lagos, we give communities practical tools to navigate blockchain from the right sources — from wallets and payments to opportunities in global stocks and ETFs. The turnout shows how eager Nigerians are to bridge traditional finance with Web3 innovation.”

A Day of Learning and Networking

The event wasn’t just about theory. Participants took part in two trivia sessions, polls, and breakout networking. Winners received branded merchandise, collectibles, and other rewards.

By the end of the day, many left with not only new knowledge but also connections to peers equally curious about digital finance.

A Regional Movement

The Lagos edition is part of a wider initiative running across Africa, with previous stops in Nairobi, Johannesburg, and Addis Ababa. The goal is to demystify digital finance for young people and provide them with practical skills that can open doors to new economic opportunities.

Continue the Learning Journey

For those who missed the program, digital resources remain available. Readers can check real time asset data such as the price of Ethereum, follow Bitcoin updates, and explore educational guides on how both crypto and tokenized stock markets function.

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices.

Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.  

Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027.

In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP, one of the world’s most thrilling championships.

The post Bitget Brings Blockchain and Stock Investing Education to Lagos appeared first on Tech | Business | Economy.

He founded Tradefada as an advanced and easy-to-use Nigerian cryptocurrency mobile application for buying, selling and exchanging Bitcoin

In this interview, he reviewed the past year and made projections about crypto market in 2022.

Excerpt:

The year 2021 has ended and now belongs in the annals of history, but how would you describe the year as an entrepreneur?

Seun: 2021 had its challenges and also came with several opportunities to innovate. With the uncertainties of COVID-19 variants across the globe, changes in govt regulations, policies etc.

I saw it as an opportunity for innovation. In looking for the right solutions, the team at Tradefada worked tirelessly to ensure the best service delivery.

Like every other year, 2021 had its challenges. What are those identified challenges you think must be addressed going forward.

Seun: In my primary industry, (blockchain and cryptocurrency) we faced a major challenge with the CBNs position on cryptocurrency trading.

It is necessary that the subject of regulation is addressed as Nigeria is losing great talents and businesses to countries that have clear cut regulation and licensing regime for cryptocurrency activities.

What is your rating of Tradefada in 2021, especially among its competitors?

Seun: I’d rate tradefada very high above the competition, as we all faced the same challenges from the CBN; it was a test for innovation.

In the course of the year, we at Tradefada sought out options for safe and compliant ways to do business, one of which is a cash voucher payment system which has come highly recommended and also doesn’t contradict the concerns of the apex bank.

We expanded our services to over 30 different countries, providing easy access to buy and sell crypto for various fiat currencies, from USD, GBP, RND, YEN, and so much more.

We also developed and launched a spot exchange where people can trade crypto-to-crypto in our bid to ensure the Nigerian populace do not miss out in the benefits that cryptocurrencies have to offer. This spot exchange also comes with Mobile apps for iOS and Android.

2022 is here, what are the services and products Nigerians should expect from Tradefada?

Seun: In 2022, Tradefada will be launching a brand-new app focused on African countries. This will allow most Africans to partake and adopt cryptocurrencies from their mobile devices and web browsers.

We will also be exploring the new waves in the crypto space i.e. Metaverse, NFTs,

We will also be providing a staking platform where our customers can safely stake their crypto and earn yearly % returns.

What are your predictions for the Fintech ecosystem in 2022?

Seun:

• Africa is the present and future and as such, I see the fintech ecosystem getting more Foreign Direct Investments in 2022, more unicorns will arise from within Africa which will aid in the building of projects that will solve the insistent challenges face in Africa and across the world.
• As we continue to build in Africa, the rest of the world also views Africa as the emerging and future market which has the potential to yield higher growth rates than advanced Nations, thereby making Africa the go-to destination for higher yield investments.
• More traditional banks will embrace fintech and provide better digital services.
• Financial institutions have long felt the pressure to both modernize their infrastructure and respond to changing customer demands and expectations. The obstacle for many is that they already face a complex array of urgent issues that constantly vie for management attention and investment.
• Customer expectations and preferences are redefining how traditional financial institutions deliver services. Legacy infrastructure is also a major stumbling block for financial institutions, some of which have been using the same mainframe systems for decades. Executives face frequent decisions about whether to allocate capital to keeping the lights on in the existing infrastructure or allocate it to digital development.
• One of the realisations from the COVID-19 pandemic is the fact that people can work virtually and be effective and efficient. Hence, to remain competitive in this constantly changing environment, transitioning from complex legacy technology environments to more agile operations, and creating more efficient compliance processes that fully satisfy evolving global and local regulations has moved fintech adoption to the top of the growth agenda for financial institutions.
• The banks will also embrace Blockchain Technology and Cryptocurrency
• Blockchain technology without a doubt has been well discoursed within the Bankers and the pros as we know outweigh the cons especially the significant reduction in the cost of doing business, ease of scale and  ability to limit theft/forgery. Building on the blockchain will provide the financial institutions the best foundation for further tech development
• Customers will be KING, as the fintech space expands, more businesses will start to focus on more customer-centric solutions. With more fintechs providing solutions aimed at solving day-to-day customer needs from Agri-tech, insure-tech, health-tech etc. every tech entrepreneur now needs to think about the customer first before launching a product. This will take the power away from the corporations and deliver it back to the customers. Fintech provides easier on and off-boarding than traditional services.
• More stringent regulation will be seen within the space
• As more fintech solutions are introduced, there definitely will be bad players within the space, the government will rise to the occasion to protect customers funds by providing frameworks for operating within the various fintech spaces. Lack of regulation permits for organizations to operate without being held to any industry standards.
• Retailers will adopt cryptocurrency and E-Naira, increasing embedded finance thereby making it easier for consumers to complete checkout on their personal devices. As the crypto adoption rate increases, more and more retailers, e-commerce platforms have been getting requests from their customers to accept cryptocurrencies. Mastercard and Visa, two of the largest payment gateways have also working on crypto adoption. For retail businesses to stay relevant, they’ll need to adopt and embed cryptocurrency payments into their business models.

In what ways do companies like Tradafada playing an active role in the digital economy space being championed by the federal government?

Seun: Tradefada as always ensured to engage with all industry stakeholders including the govt on how to best position Nigeria and take advantage of the digital economy.

We have actively supported educational brands and sponsored conferences which are in the business of disseminating information to all.

We are open to working with the CBN to achieve the full potential of the E-Naira, we believe that giving Nigerian’s access to crypto via the E-Naira will be a game changer for Nigeria with and all the volumes traded across peer-to-peer platforms.

The post [INTERVIEW] TradeFada ready to explore new waves in Metaverse, NFTs – Seun Dania appeared first on Tech | Business | Economy.

The company is a Mastercard principal member, with strategic European licenses, such as e-Money and VASP.

As the digital landscape continues to evolve with the coming MiCA regulation, xMoney Global intends to lead Europe into this new transformative EU-regulated stablecoin era. 

Greg Siourounis will lead the integration of xMoney’s advanced blockchain-enabled payments infrastructure with its upcoming stablecoin program.

Stablecoins are a key driver of blockchain adoption in today’s market, now surpassing Bitcoin, remittances, and PayPal in annual transaction volume. 

As such, xMoney’s Global reputation positions it to bridge Web3 innovation with traditional finance, leading Europe into a new transformative EU-regulated stablecoin era.

Dr Greg, who has played a pioneering role in the growth of Sui Foundation as its former Managing Director and who previously founded Everypay, will drive xMoney Global’s next wave of growth. 

Beyond the standard reference of his academic work in 2024’s Nobel Prize in Economics, Dr Greg’s career is also decorated with awards such as the 2005 Young Economist Award from The European Economic Association and the 2008 Austin Robinson Prize from The Royal Economic Society. 

His immediate target will be to focus on partnerships, regulatory alignment and market expansion, as xMoney Global looks to build a comprehensive payments platform that bridges legacy financial systems with the potential of decentralized finance.

Commenting on his appointment, Dr Greg Siourounis, CEO of xMoney Global, said, “As Europe prepares to embrace MiCA regulation, xMoney Global is positioned to redefine what compliant, secure, and seamless digital payments can be. 

“Our goal is to deliver a solid and trusted ecosystem that combines the strengths of traditional finance with the flexibility of blockchain technology to create a future-ready payment experience.”

Beniamin Mincu, Co-founder of MultiversX, said, “xMoney Global’s mission aligns perfectly with the vision of MultiversX to bring scalable and secure blockchain solutions to mainstream finance. This appointment marks a significant step toward building a more inclusive and resilient financial system.”

The launch of xMoney Global aims to offer a next-gen blockchain-as-a-service module backed by its native stablecoin, with key white-labelled services including acquiring, issuing, onramps/offramps and a sticky loyalty program, all backed by MultiversX’s state-of-the-art sharding technology. 

Following the surge in crypto markets after Trump’s pro-crypto Presidential win, xMoney will be ideally placed to accelerate real-world adoption as the easiest way for everyone (consumers, retail and e-commerce) to seamlessly access fiat and cryptocurrencies in an app, card or payment gateway.

The post xMoney Global Appoints Dr Greg Siourounis as CEO to Lead Blockchain Payments Revolution appeared first on Tech | Business | Economy.

Despite their high volatility, they offer substantial benefits for trading and international money transfers, creating new job opportunities for young professionals in finance.

However, the trustworthiness of cryptocurrency trading platforms remains a significant concern due to hidden costs and scams that can lead to substantial financial losses for investors.

Investment Decisions in an Unpredictable Market

Large corporations and small to medium-sized enterprises (SMEs) closely monitor cryptocurrency markets and rely on technical and financial analysts to guide their investment decisions.

Yet, these analysts face significant challenges due to the unpredictable nature of cryptocurrency markets.

Accounting complications, economic disparities among countries, and varying regulatory environments contribute to the difficulty in making informed investment decisions.

The lack of standardized accounting practices for cryptocurrencies further complicates matters, raising issues related to financial reporting, auditing, and taxation.

Without specific Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) for cryptocurrencies, they can be categorized inconsistently as cash equivalents, inventory, intangible assets, or financial instruments.

This inconsistency leads to issues in valuation and earnings management, as highlighted by multiple studies.

Economic and Political Challenges

Political economies worldwide are grappling with high inflation rates, budget deficits, trade imbalances, and economic recessions.

Governments aim to regulate cryptocurrencies to protect investors from speculative losses and to prevent illegal activities such as money laundering and terrorism financing.

The speculative nature of cryptocurrencies poses a threat to exchange rates and international trade measures, leading to increased governmental restrictions.

This regulatory environment creates a complex interplay between investors and governments. Investors, particularly financial analysts, must weigh the benefits and risks of investing in cryptocurrencies against the backdrop of potential regulatory changes and economic uncertainties.

Game Theory Analysis of Investment Decisions

To understand this complex interplay, a 2×2 game theory model can be employed. In this model, Player A represents the financial analyst with two strategies: to invest or not to invest in cryptocurrencies.

Player B represents the government with two strategies: to encourage or not to encourage cryptocurrency investments.

The game considers various factors, including investor demand, political aspects, educational efforts, regulatory bodies, and the ethical implications of cryptocurrency trading.

The analysis assigns weights to these factors based on their perceived importance, forming a mathematical payoff matrix.

Using linear programming and the simplex method, the model calculates the optimal strategies for both players.

The game theory analysis reveals a cautious outlook for cryptocurrency investments. The optimal strategy for financial analysts is to refrain from investing in cryptocurrencies, while governments are best positioned not to encourage such investments.

The results indicate that financial analysts should carefully consider the high costs, accounting challenges, and ethical issues associated with cryptocurrency investments.

Governments, on the other hand, must balance regulatory measures to protect their economies while navigating the speculative nature of these digital assets.

Future Implications

The uncertain future of cryptocurrencies necessitates ongoing research and analysis. Financial analysts and policymakers must continue to evaluate the cost-benefit dynamics, competitive advantages of financial instruments, and the broader economic impact of cryptocurrency investments.

Educational institutions should incorporate cryptocurrency studies into their curricula to prepare future generations for the evolving financial landscape.

Ultimately, the decision to invest in cryptocurrencies remains fraught with doubt. While the potential for high returns exists, so do significant risks and regulatory hurdles.

As the market evolves, both investors and governments must stay vigilant, adapting their strategies to navigate the unpredictable terrain of cryptocurrency investments.

*Heath Muchena is the founder of Proudly Associated and author of Blockchain Applied, Tokenized Trillions and more.

The post The Financial Analyst’s Dilemma: To Invest or Not in Cryptocurrencies? appeared first on Tech | Business | Economy.

These digital currencies challenge traditional state-controlled monetary systems by offering alternative transaction methods that can bypass governmental oversight and control.

The proposed shift toward decentralization and reduced state monetary power has significant implications, prompting reactions from governments and financial authorities worldwide.

Central Bank Digital Currencies (CBDCs) are pivotal in this ongoing monetary counter-revolution.
Positioned at the intersection of innovation and regulation, CBDCs are proposed by states as a means to reassert control over monetary systems.

This response is not merely about introducing new technology but is a strategic endeavour to reclaim authority that the widespread adoption of private digital currencies could dilute.

By incorporating retail and wholesale digital instruments that mimic the properties of cash and are accessible to the general public, CBDCs aim to balance the technological advancements seen in the private sector with the regulatory and fiscal responsibilities of the state.

Bitcoin’s Role in Redefining Monetary Sovereignty

To appreciate the transformative potential of CBDCs, it is crucial to understand the broader context of digital currencies, starting with Bitcoin.

As the first and most well-known cryptocurrency, Bitcoin introduces several pivotal economic and political dynamics that mirror the challenges and opportunities posed by CBDCs.

Bitcoin has reshaped perceptions of monetary sovereignty by providing an alternative to traditional currency systems.

Its decentralized nature enables users to evade government controls, presenting both opportunities and challenges. On one hand, Bitcoin can be seen as beneficial in regions where the rule of law is inconsistently applied, or monetary policy is detrimental to economic stability.

On the other hand, Bitcoin’s ability to facilitate illegal activities, such as evading sanctions or funding criminal enterprises, undermines the rule of law.

Additionally, Bitcoin’s volatility and the substantial energy consumption required for mining raise questions about its long-term viability as a stable monetary system.

The Emergence of Stablecoins and Regulatory Challenges

Beyond Bitcoin, the advent of stablecoins highlights further complexities in the digital currency landscape. An example is what happened to the now defunct Libra, later named Diem, a digital currency issued by Meta (formely Facebook) that was aimed at creating a privately issued currency backed by a basket of hard currencies issued by major central banks.

This proposal brought forth significant skepticism from national treasuries and central banks, which viewed it as an infringement on their monetary prerogatives.

The Diem Association has since announced the sale of its intellectual property and other assets related to the running of the Diem Payment Network to Silvergate Capital Corporation.

The “Treasury view” posits that for the state to protect the life and property of its citizens, it must maintain control over its monetary prerogatives.

This includes the capacity to manage capital flows and provide liquidity as a lender of last resort.
Stablecoins, by offering a new form of digital currency, threaten to undermine these prerogatives by enabling global, open, instant, and low-cost movement of money, potentially disrupting traditional financial systems.

CBDCs: A Strategic Reassertion

CBDCs represent a strategic response to the challenges posed by private digital currencies.

By developing CBDCs, central banks aim to provide a digital payment instrument that is a direct liability of the state, thereby preserving monetary sovereignty.

CBDCs can be designed as either account-based or token-based systems, with each model offering different advantages and challenges.

Account-based CBDCs would function as universal central bank accounts, extending access to online bank accounts directly with the central bank. This model could enhance financial inclusion and streamline payment systems.

Token-based CBDCs, on the other hand, would mimic the properties of physical cash and could be used for anonymous transactions, similar to traditional cash.

Balancing Innovation and Fiscal Stability

The adoption of CBDCs also reflects broader fiscal considerations. Governments often rely on seigniorage – the profit made from issuing currency – and capital controls to manage economic stability.

Bitcoin and other cryptocurrencies challenge these mechanisms by enabling capital flight and circumventing traditional monetary policies.

As such, governments are likely to prioritize the development of CBDCs to maintain fiscal stability and control over their monetary systems.

Moreover, CBDCs could potentially enhance the efficiency of monetary policy implementation, particularly in times of economic crisis. For instance, during the COVID-19 pandemic, proposals for “Digital Dollars” and “FedAccounts” gained traction as tools to distribute stimulus payments more effectively and promote financial inclusion.

The Future of Banking and Monetary Policy

The implementation of CBDCs could have profound implications for the future of banking and monetary policy.

By disintermediating commercial banks, CBDCs could shift the role of credit allocation and liquidity provision to the state.

This transition could reduce the fragility associated with fractional reserve banking and enhance the efficiency of payment systems.

However, the move towards CBDCs also raises concerns about privacy, cybersecurity, and the potential for increased government surveillance. Balancing these risks with the benefits of digital currencies will be crucial in shaping the future monetary landscape.

In conclusion, the political economy of digital currencies is undergoing a significant transformation. Bitcoin and stablecoins have challenged traditional monetary systems, prompting governments to respond with the development of CBDCs.

This strategic reassertion of state control over monetary systems aims to balance innovation with fiscal stability, shaping the future of banking and monetary policy in the digital age.

As the landscape continues to evolve, the interplay between private digital currencies and state-backed

CBDCs will be central to the ongoing debate over the future of money.

*The writer: Heath Muchena is the founder of Proudly Associated and author of Tokenized Trillions, Blockchain Applied and more.

The post The Rise of CBDCs and Reassertion of State Control appeared first on Tech | Business | Economy.

This evolution promises not only to enhance the security, transparency, and efficiency of online betting but also to open up new markets and opportunities globally.

Here’s why this transformation is capturing the attention of millions of users and key players in the ecosystem.

Explosive Market Growth

The global online betting market, including iGaming and sports betting, is experiencing a significant boom.

According to Research & Markets, the size of the market is projected to increase from around $88.65 billion in 2023 to $96.89 billion in 2024, with a compound annual growth rate (CAGR) of 9.3%.

By 2028, it is expected to reach $137.26 billion. This growth is driven by increasing smartphone adoption, improved internet access, and the rise of digital payments.

The sports betting industry is ripe for disruption by decentralized technologies. Traditional bookmakers often charge a 10% fee, regardless of the outcome, a hidden tax that diminishes the bettor’s potential gains.

Moreover, over $500 billion is gambled yearly with illegal and unregulated sportsbooks, which lack consumer protections and data privacy and offer predatory odds.

So when it comes to choosing the best platform for crypto sports betting, several factors come into play. Reputation, user experience, sports markets, and security measures are paramount.

Some of the top platforms leading the way include Sportsbet and Stake.

The Crypto Betting Value Proposition

Blockchain technology ensures that transactions are secure, transparent, and immutable, reducing the risk of fraud and ensuring fair play.

Smart contracts automate betting processes, eliminating intermediaries and enhancing user trust. This not only enhances trust but also maximizes capital efficiency, allowing users to place more bets with less money.

Blockchain’s inherent security features eliminate fraud and counterparty risk, making it a more reliable system for both operators and users.

Cryptocurrencies lower transaction costs compared to traditional banking systems. This is particularly beneficial for microtransactions and cross-border payments, making betting more accessible globally.

Additionally, crypto betting platforms can incentivize user participation through innovative models such as liquidity mining or bet mining, where users receive tokens in exchange for betting or providing liquidity.

These tokens can then be staked to earn a share of the platform’s revenue, fostering brand loyalty and creating a more vibrant betting ecosystem.

Digital currencies also enable seamless global participation, bypassing traditional banking barriers. This is especially advantageous in regions with limited banking infrastructure, such as parts of Africa and Asia.

Futhermore, crypto transactions offer a degree of anonymity that appeals to many users. While ensuring compliance with regulatory standards, crypto betting platforms can provide enhanced privacy compared to traditional platforms.

Regional Insights and Opportunities

● Africa presents significant growth opportunities for crypto betting. The continent’s betting market is expected to exceed $6 billion by 2030, driven by a young, tech-savvy population and increasing internet penetration.

● The Asia Pacific region is expected to witness tremendous growth in online gambling, driven by increased internet usage and proactive regulatory frameworks. Major markets include China, India, and Japan, where rising disposable incomes and leisure spending are boosting market growth.

● Europe remains a dominant player in the online gambling market, supported by favorable regulatory environments and high disposable incomes.

Countries like the UK, Italy, and Germany have well-established online gambling regulations that foster market expansion.

The potential for crypto betting in emerging markets, particularly in Africa and Asia, is vast. As mobile technology and internet penetration continue to grow, these regions are ripe for the adoption of innovative betting solutions.

As regulatory frameworks evolve and technology advances, the adoption of crypto betting is expected to accelerate, bringing transformative changes to the global gambling industry.

Investors and businesses have a significant opportunity to capitalize on this emerging market. By embracing technological innovations and navigating regulatory challenges, stakeholders can position themselves at the forefront of the digital revolution in gambling.

Crypto Betting and iGaming Technological Trends

The growth of layer-2 solutions, such as rollups, is enhancing the scalability and efficiency of blockchain networks. This development is crucial for handling the increasing volume of transactions in the crypto betting space.

Tokenizing real-world assets like real estate and commodities on the blockchain enhances transparency, liquidity, and accessibility for small investors. This trend is gaining momentum, bringing off-chain assets into the digital ecosystem​.

DeFi platforms are expanding, offering new opportunities for financial transactions and betting. The total value locked (TVL) in DeFi platforms has seen significant increases, reflecting the growing interest and investment in decentralized financial systems​.

Advancements in AI and virtual reality are enhancing user experiences on betting platforms. AI-driven algorithms personalize user interactions, while VR offers immersive betting environments, increasing user engagement and satisfaction​.

The rise of crypto betting and iGaming is not just a trend; it is a fundamental shift in how the world engages with online betting.

With its inherent advantages and growing market potential, crypto betting offers a promising future for investors, operators, and users alike.

Sports betting could be the killer app that drives mainstream adoption of cryptocurrencies.

Unlike other speculative markets like NFTs or tokenized real estate, sports betting has a broad, universal appeal and a rapidly growing user base.

The combination of faster, cheaper, and safer transactions with the excitement of sports betting makes it a compelling use case for crypto.

As the industry continues to evolve, those who embrace this new frontier will be well-positioned to reap the benefits of a rapidly expanding and dynamic market.

======

*Heath Muchena is the founder of Proudly Associated and author of Tokenized Trillions and Blockchain Applied.

The post The Future of iGaming & Boom in Smart Contract Betting appeared first on Tech | Business | Economy.

A new study by crypto tax software CoinLedger reveals that the retail & e-commerce sector has the highest number of companies that offer the option to purchase through cryptocurrency.

The study compiled a list of 400 major companies listed by BitPay as accepting cryptocurrency methods and categorized them into sectors, to discover which one contains the most companies offering crypto as a payment method.

Retail & e-commerce take first place with a total of 76 companies accepting crypto payments. The sector includes clothing and accessories stores like Adidas, Yankee Candle and H&M, as well as online shopping platforms such as Etsy.

The food & dining sector follows closely in second with 72 companies. Examples are Chipotle, Chuck E Cheese’s, Domino’s and Hard Rock Café, and delivery services such as DoorDash and Uber Eats.

Different services became available gradually in different countries: Burger King Venezuela has been accepting Bitcoin payments since 2020.

New additions to this list are the Grubhub conglomerate, for which you can purchase gift cards with crypto, and various stand-alone pubs and restaurants around the world such as The Pink Cow in Tokyo and Pembury Tavern in London.

Travel & hospitality comes in third with 38 companies accepting crypto payments. These range from commercial airlines such as Norwegian Air and Vueling to private jet hire like Fast Private Jet, LunaJets and PrivateFly.

Cruise companies Royal Caribbean and Princess Cruises are also on the list, as well as trip-organizing help sites like GetYourGuide.

Further down on the list, luxury retail is fourth with 35 companies offering the service, among which there are high fashion brands Gucci and Ralph Lauren, luxuryx watches retailer Hublot, as well as jewelers such as Jewelry Affairs and CRM Jewelers.

The top five closes with internet & online services companies, as 32 accept crypto as a form of payment. These companies offer a service available to use online from our phones and laptops, such as Google Play and Spotify, and different VPN services like CyberGhostVPN, ExpressVPN and FrootVPN.

David Kemmerer, co-founder and CEO of CoinLedger commented on the findings: “The increasing number of companies accepting cryptocurrency payments reflects the growing acceptance and adoption of digital currencies in the mainstream economy.

“This trend not only aligns with the evolving preferences of tech-savvy consumers but also offers benefits such as reduced transaction fees and increased security. From major retailers to small businesses, the diversification of sectors embracing cryptocurrencies demonstrates the versatility and potential of blockchain technology. As this trend continues, it’s likely to contribute to the broader acceptance of cryptocurrencies as a legitimate form of payment, paving the way for a more decentralized and accessible financial landscape.”

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A new study reveals the most and least stable cryptocurrencies, with Tether and BitTorrent being the safest bets for traders and Bonk and Bitcoin being the most volatile.

The research by online crypto casino Bombastic analyzed data of the largest 100 cryptocurrencies by market cap, according to CoinGecko, and ranked each based on year-on-year (YoY) price changes to determine the ranking.

The most volatile cryptocurrencies

Memecoin Bonk (BONK) is the most volatile cryptocurrency, with the greatest difference between highs and lows.

Bonk’s value has fluctuated between $0.000000177 and $0.0000255, a 14,306% difference.

ORDI (ORDI), Kaspa (KAS), and Injective (INJ) rank second through fourth with differences of over 2,000%.

Conflux (CFX) and Akash Network (AKT), the fifth and sixth most volatile coins, experienced some of the market’s biggest price fluctuations of over 1,000%.

BEAM (BEAM), THORChain (RUNE), Osmosis (OSMO), and Sei (SEI) saw price changes of over 750%.

The most bullish cryptocurrencies

Injective (INJ) experienced the greatest, with a 1,587% difference – its price rocketed from $2 at its earliest value to $33.77 at the time of writing.

Kaspa (KAS) follows with 1,420% growth from $0.006 to $0.098.

Bonk (BONK), the most volatile cryptocurrency, has seen values rocket by 813% YoY from $0.00000115 to $0.0000105.

Akash Network (AKT) experienced a 765% positive YoY change.

Celestia (TIA) and Conflux (CFX) rank fifth and sixth with over 500% growth in price.

Stacks (STX), Render (RNDR), and Siacoin (SC) grew by over 300%.

Roning (RON) ranks tenth most bullish, with a 267% change from $0.6 to $2.25.

The most bearish cryptocurrencies

GALA’s price has sunk the most, with a 58.3% negative YoY growth from $0.053 at its earliest value to $0.022.

Flare (FLR), The Sandbox (SAND), and Axie Infinity (AXS), in second, third, and fourth place, saw values drop by over 40%.

Decentraland (MANA), EOS (EOS), 1000SATS, Aptos (APT), Flow (FLOW), and Algorand (ALGO) experienced average YoY drops of over 35%.

The most stable cryptocurrencies

Tether (USDT) experienced the most stable growth of all cryptocurrencies.

Tether, currently the biggest stablecoin by market cap, has the least difference between the highest and lowest prices by percentage, with a 1.35% YoY change. At its lowest, the coin was valued at $0.99, compared to $1.009 at its peak. The coin is pegged to the US Dollar to keep its value steady.

LEO Token (LEO) is the steadiest cryptocurrency, excluding stablecoins, with a 25% difference between its dips and highs, from $3.32 to $4.17.

Dogecoin (DOGE) ranks tenth safest, with a positive 76% YoY change between dips and recoveries. Doge hit $0.057 at its lowest value compared to $0.10 at its highest.

A spokesperson from Bombastic commented on the findings: “Now, with years of historical data, these findings offer crypto traders an insight into the safest and riskiest coins to invest in.

“Data shows that memecoin Bonk experienced huge percentage changes in price, over 10,000% more than the next coin.

“Among the most bullish coins are ones attached to games networks such as Gala, Axie Infinity, and The Sandbox.

“It could signal that market sentiment towards these gaming ecosystems is downward or in favor of other coins”.

The post Revealed: The Most Volatile Cryptocurrencies appeared first on Tech | Business | Economy.

It’s reputed to be the second largest religion in the world. Yet, this enormous population has been excluded from decentralized finance. What about DeFi and Cryptocurrency going against Sharia law?

What are the Islamic financial principles and why are some crypto(s) deemed haram? Are decentralized financial tools considered hala and if so, which ones and why? 

These and many others questions have more often than none divide Muslim Scholars, expert in Islamic Finance and many others, with each providing different solution from different vantage points.

The perspectives make the bugging open ended, debatable and not a kind of Yes/No stance.

Perhaps, cryptocurrency is one of the wonderful invention of the 21st Century, coming closely after the internet revolution and other invention of significance.

A wonderful invention or “financial Instrument” in the sense of its so many unanswered questions, inferred cum implied answers among other things surrounding it.

As of 2023, data reveal that global crypto ownership rates at an average of 4.2%, with over 420 million crypto users worldwide.

Just as the consumers from countries in Africa, Asia, and South America were projected to most likely to be an owners of cryptocurrencies, such as Bitcoin, in 2023.

This conclusion was reached after combining 55 different surveys from the Statista’s Consumer Insights over the course of that year.

Nearly one out of three respondents to Statista’s survey in Nigeria, mentioned they either owned or use a digital coin, as opposed to six out of 100 respondents in the United States.

This is a significant change from a list that looks at the Bitcoin (BTC) trading volume in 44 countries: There, the United States and Russia were said to have traded the highest amounts of this particular virtual coin.

Nevertheless, African and Latin American countries are noticeable entries in that list too.

But are there insightful guide to lay hold on from the holy books most especially Qua-ran, to lay hold on, on the subject matter of discuss?

As a complete book, reputed to having an accurate record of the past and setting the pace for the future, like on any other subject for which it has always been an encyclopaedia of truth,  it does offers some insightful  tips on  money, and management matters.

One of such, is Quran 2: 276:  “Allah will deprived usury of all blessings, but will give increase for good deeds of charity” a foot note explanation of the above pointed out that  Allah’s messenger, cursed the accepter  of interest and it payers, and one who record it, and the two witness; and he said they are equal.

Islam is clear on some social, economic and political issues. For instance, the free market principle is not an Islamic principle.

Islam considers commodities that can be used as currency: Gold, (Dinar), Silver ( Silver Dirham), Dates, Wheat, Barley, and salt.

The mentioned six items are derived from a hadith – Gold, Silver, Dates, Wheat, Barley, and Salt and were used for money in barter system; as the items mentioned in Hadith, also known as Sunnah money.

On the other side, paper money or electronic money can be used as long as, it is backed by one of these commodities at a ‘fixed exchange rates’ (in order words the paper is just a contract stipulating that the bearer can redeem the paper for a fixed measure (weight) of that particular commodity.

It is interesting to know that until 1971 most of the currencies of the world were backed by gold.

However, only, government could redeem paper, not an average citizen. The price of commodity is set by the market as long as fiat currency (paper) is not used.

The price / value of commodities can be manipulated, adjusted by the creators of fiat money (by virtue of the market law of supply and demand).

What remains indisputable is the fact that, as interest in Bitcoin and cryptocurrencies rises, so have the questions of Muslim investors wondering if they can invest in them while adhering to the principles of their faith.

In particular, is cryptocurrency halal — that is, “permissible” according to the Quran – or should ethical Muslims put their money elsewhere?

In the following paragraph, I shall present scholarly thought on the subject of our examination leaving the critical definition to your discretion. .

In 2018, Mufti Muhammad Abu Bakar, a Sharia adviser and compliance officer at Blossom Finance in Jakarta, published a popular paper that affirmed that bitcoin is halal, a paper which many believe could be the reason for the surge in the price of bitcoin that followed.

Shortly after the paper titled ‘Shariah Analysis of Bitcoin, Cryptocurrency, and Blockchain Mufti Muhammad Abu-Bakar’, was published, a mosque in London started accepting Bitcoin for donations and Zakat contributions.

Today, many Islamic scholars and jurists that sit on the boards of national advisory teams, such as in Egypt and Turkey, do not consider cryptocurrency as halal for various reasons.

Mufti Taqi Usmani, a former judge of the supreme court of Pakistan, is representative of this side of the debate.

“Currencies are originally a medium of exchange, and making them a tradable commodity for profit earning is against the philosophy of Islamic economics”, Mufti Usmani said, ‘In Shariah, there is no valid reason to accept bitcoin or other cryptocurrencies as a currency. It is just an imaginary number, which is generated through a complex mathematical process. It is purchased for gambling or speculations, and used in illegal or unlawful transactions”.

But to Mufti Shawki Allam, the current Grand Mufti of Egypt, agrees.

“In my opinion, trading in cryptocurrency is haram,” Mufti Allam said. “This is because it is not approved by legitimate bodies, such as Treasury Departments of States, as an acceptable medium of exchange. Such currencies lead to ease in contraband trade and money laundering, and they amount to gambling”. 

The Directorate of Religious Affairs in Turkey also believes that “since cryptocurrencies are open to speculation, mostly used for illegal deeds, and far from state auditing and supervision, their trading is not appropriate at this point, in the light of Shariah.”

It is true that cryptocurrencies are not under the control of a central authority. Even though many countries are seeking to regulate the use of cryptocurrencies, they remain, by their very nature, decentralized.  As a result of the decentralisation and anonymity of cryptocurrencies, some bad actors have indeed used them to facilitate illegal transactions.

“The illicit use of cryptocurrencies are predominantly associated with money laundering purposes, the (online) trade of illicit goods and services, and fraud,” according to Europol, the Eu’s agency for law enforcement. An academic study published by Oxford Academic in 2019 also found that 25% of bitcoin users are involved in illegal activities, valued at $76 billion annually, constituting about 46% of all bitcoin transactions.

Furthermore, the Islamic Economic Forum, of Islamic Economists and Jurists, argues that “a cryptocurrency is permissible as long as it doesn’t breach Islamic prohibitions on interest, contractual uncertainty, and gambling,” says Dr. Humayon Dar, the director general of the Cambridge Institute of Islamic Finance and an Islamic finance product development specialist.

Dr. Humayon also agrees, even though he believes that the ambiguity and uncertainty around cryptocurrencies should lead to caution in assigning them any “halal” tag.

According to Sharia law, a contract is valid if there is a consideration, referred to as Mal. That is, there must be an exchange of something real that can be owned, possessed, stored, and traded. Since cryptos are real digital assets that can be owned, possessed, and stored on wallets and traded on exchanges, some Islamic scholars consider them halal.

Other Scholars also posited that the absence of interest (riba) is a core principle of Islamic finance.

Since cryptocurrencies do not charge interest, some Islamic scholars consider them halal. While cryptocurrencies are speculative, some experts, such as Mufti Abu-Bakar, a scholar of Islamic Jurisprudence, have argued that all financial assets are speculative. Even stocks, which are widely considered as being “halal”, can have significant volatility.

However, when it comes to Finance or investment concern, does religion matters?

Indonesia, the world’s largest Muslim-majority country, has banned cryptocurrency trading.

The Indonesian Ulema Council cited “elements of uncertainty and harm” within cryptocurrency, and the fact that it doesn’t have “a physical form, a clear value, [or] a known exact amount.”

The implication is that cryptocurrency that meets governmental rules will be allowed.

Another Islamic scholar, Dr Anas Amatayakul, advises that Muslims avoid buying or trading cryptocurrency “for now.” This leaves room for further innovation in cryptocurrency for Muslims — better regulation and less volatility may make the use of Crypto more permissible.

The most direct cost of widespread adoption of a crypto asset such as Bitcoin is to macroeconomic stability.

If goods and services were priced in both a real currency and a crypto asset, households and businesses would spend significant time and resources choosing which money to hold as opposed to engaging in productive activities.

Similarly, government revenues would be exposed to exchange rate risk if taxes were quoted in advance in a crypto asset, while expenditures remained mostly in the local currency, or vice versa.

But what is the position of the International Monetary Fund (IMF) about the subject of Cryptocurrency?

IMF has laid out a nine-point action plan for how countries should treat crypto assets, with point number one a plea not to give cryptocurrencies such as Bitcoin legal tender status.

The global lender of last resort said its executive board had discussed a paper, “Elements of Effective Policies for Crypto Assets,” that provided “guidance to IMF member countries on key elements of an appropriate policy response to crypto assets”.

Such efforts have become a priority for authorities, the fund said, after the collapse of a number of crypto exchanges and assets over the last couple of years, adding that doing nothing was now “untenable”. The top recommendation was to “safeguard monetary sovereignty and stability by strengthening monetary policy frameworks and do not grant crypto assets official currency or legal tender status.”

The IMF had hit out at El Salvador in late 2021 when the central American country became the first to adopt Bitcoin as legal tender, a move since copied by the Central African Republic.

Other advice, which comes as G20 decision-makers meet in India, included guarding against excessive capital flows, adopting unambiguous tax rules and laws around crypto assets, and developing and enforcing oversight requirements for all crypto market actors.

Countries should also establish international arrangements to enhance supervision and enforce regulations, the IMF added, as well as set up ways to monitor crypto’s effect on the stability of the global monetary system.

Outlining its executive board’s assessment, the IMF said directors welcomed the proposals and agreed the widespread adoption of crypto assets “could undermine the effectiveness of monetary policy, circumvent capital flow management measures, and exacerbate fiscal risks”.

They “generally agreed,” too, that crypto assets should not be granted official currency or legal tender status, and though strict bans of assets are “not the first-best option,” a few directors thought they should not be ruled out.

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