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NFT Staking Guide: What It Is And How It Works

NFTs have emerged as an attractive extension of cryptocurrencies and the possibilities of blockchain. Here is how staking works with NFTs.

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One of the hottest trends in the industry today is the idea of “NFTs”. What is NFT? It is a special kind of token that represents a digital asset or physical item.

For example, a token that represents a digital art piece that you’re selling on the NFT marketplace could be considered an NFT. Non-fungible tokens are an interesting concept because they represent a way of adding utility to something — in this case, art. it then becomes a digital asset and can be sold.

The token’s identifying information is stored in a decentralized registry, in the form of Smart Contracts. These registries, similar to the ones used for decentralized apps, enable developers to digital assets directly to users.

As opposed to cryptocurrencies like Bitcoin where one BTC has the same value as another, non-fungible tokens are all unique in their own right. Furthermore, they are not divisible like fungible tokens. In this guide, we will explore NFT with regards to staking and the mechanics of how it all works.

Read Also: What Is An NFT Auction? Here are the Vital Insights

NFT Staking

One of the thoughts that come to mind is the prospect of staking them for additional profits. Let’s start with the basics, and build from there.

What is Staking?

Among many other things a user can do with NFTs is the idea of staking, which allows you to lock up some of your NFT tokens in a proof-of-stake crypto wallet to secure and govern a blockchain network. It is done in exchange for rewards, rather than a simple deposit or withdrawal model. It’s like a spin-off from mining, but not the same thing.

Why Stake NFTs?

The NFT ecosystem is hampered by low liquidity. At present, it is underdeveloped, as most users purchase the tokenised asset for long-term appreciation. Others do so to burn them, which creates scarcity, and, in turn, increases the value. Staking comes into play to resolve this problem. Staking a non-fungible is no different from staking a cryptocurrency.

Once you’ve found, for example, a digital asset with a revenue-generating potential, stake your tokens and receive incentives. The fee and block could come in the form of an annual percentage yield (APY) of the staked token, depending on the lock option duration. It could feature additional network validation, to ensure transaction integrity and confirmation.

Read: How Yield Farming Works With MoonSwap

Staking rewards depend on a variety of factors. Among them is the NFT asset’s potential to generate considerable income streams. NFT crypto staking can provide rewards up to 100% APY. Besides generating income for users, NFT staking also increases liquidity and attract more investors to the ecosystem. In turn, this will further facilitate the ecosystem’s growth.

Projection of the NFT Ecosystem

At the moment, NFTs encapsulates crypto, gaming, and digital artwork collectibles. However, content creators are currently hopping on the bandwagon, incorporating NFT into their products. For instance, artists who are into oil painting can create a digitized version of their works and even earn royalties.

Notable brands current license their NFTs, including Kellogg’s, Pizza Hut, Ubisoft, MGA Entertainment, and Taco Bell. As of June 2021, Twitter launched its NFT collections. If there’s any better time to become a part of the NFT ecosystem is now!

Conclusion

If you are already an NFT enthusiast who’s short on ideas for how to generate additional income other than HODLing long-term, NFT staking may be the answer. Look for NFTs with the potential to create good returns and invest your money. What makes staking interesting is that you don’t need to purchase your asset of choice outright; yet, you can partly own it and still earn high ROIs.

What Is An NFT Auction? Here Are The Vital Insights

NFTs have carved a niche for themselves in the crypto marketplace. Here are insights on how NFT auctions are done?

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A Comprehensive Guide to NFT Auctions

Ever thought of creating and selling your NFT at an auction to generate a lucrative income stream? Come to think of it, do you know how much the famous “Disaster Girl” meme sold for as a non-fungible token? A whopping $500,000. And if that isn’t enough, how about Jack Dorsey’s first tweet auctioning for $2.5 million.

However you want to consider it, NFTs are the new goldmine, creating opportunities for owners and collectors to earn sustainable incomes.

Perhaps, you missed out on the Bitcoin rave when it was just a few cents, and then Ethereum and the likes. You wouldn’t want to overlook this once in a lifetime opportunity, would you?

The demand for digital gaming, artwork, and crypto collectibles is skyrocketed. One memorable event in the industry is the Beeple NFT auction, Everdays: The First 5,000 Days, which sold at Christie’s for $69.2 million. The same NFT auction also set a record for the high-selling digital art in history.

Read Also: How MoonSwap Works

Introduction to NFTs

An NFT is a non-fungible token or cryptographic token that is attached to a unique asset of value. The digital asset can be sold, traded, or transferred.

With the proliferation of cryptocurrencies and the advent of blockchain technology, tokens have taken on a new lease of life. In fact, they are now being treated as real digital assets. This is a major step in their evolution from just pure digital currency to an asset class in its own right.

While NFTs are often associated with the art and gaming (game items and avatars) industry, they have a variety of applications, including financial transactions (payment solutions), intellectual property (patents, copyrights, and trademarks), ownership (real estate, collectibles, and more), reputation (social media, marketing, and branding), and utility (smart contracts).

NFT Auctions: How Do They Work?

NFT auctions connect creators with audiences. Collectors looking for unique digital artwork or other collectibles can find them on reputable NFT auction websites. An NFT auction site runs on a blockchain, most likely, Ethereum.

In most NFTs, an ownership transaction is initiated by a wallet and the NFT is then registered and stored, similar to cryptocurrencies. The blockchain verifies the identity of the seller and the ownership and validity of the NFT. Of course, bidders on the platform are also verified.

Read: How Chainlink Connects Smart Contracts To The Real World And The Opportunities Therein

In an auction, the owner of the NFT sets a reserve or starting price for the asset. The auction site runs on the Ethereum blockchain, which means that prices are set in ETH and are used for all transactions on the network. The reserve price is the lowest possible bid price, and is also called the “opening bid”. Collectors are to bid above this limit. With each bid, the price of the asset increases.

There is a time limit for the bid duration after which the seller accepts the highest bid price and receives it in ETH, while the NFT auction platform transfers ownership of the NFT asset to the buyer after the individual must have settled the NFT. There are no further bids on the asset except the new owner decides to auction it in the future.

When listing an NFT on an auction site, there is a certain percentage charge or GAS fees on the potential transaction. Hence, it is essential for you as a creator to factor in this cost before auctioning your NFT.

Conclusion

The most interesting fact about an NFT auction is that it operates in a digital world and yet it incorporates real-world assets. Depending on if you decide to be a creator or a collector, there is an avenue for you to make money and own highly treasured collectibles.

Here is How to Buy Bitcoin in Nigeria

Nigeria is a booming market for cryptocurrency right now, and here is how to buy bitcoin in the country using some of the leading platforms available.

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How to Buy Bitcoin in Nigeria

When it comes to the selling and buying of bitcoin, Nigeria is at the forefront having the highest Google searches for Bitcoin after the US and ranking top in peer-to-peer transactions. If you are interested in joining the current revolution and being well informed on how you can trade Bitcoin safely in Nigeria, please read on.

What is Bitcoin

According to Bitcoin.com, Bitcoin in the practical sense is money that exists in a digital form.

Bitcoin Price Highlights

The price of Bitcoin is the current price at which bitcoin is being traded. It is determined by the buyer and seller. Despite this, its price varies across exchange platforms such as Coinbase and Binance because of market inefficiencies.

Statista Data Grab

Within the past five years, Bitcoin has witnessed dynamic surges in its value rising to around $1,290 in March 2017, the highest ever it has been before then. This trend continued across the months getting to a peak of $19,783.06 nine months after on December 17, 2017.

Read Also: All You Need To Know About Making Money With Binance Peer-To-Peer Trading In Nigeria

Up till the year 2021, the price of Bitcoin continues to increase with surges and minimal decline along the way. On April 10, 2021, Bitcoin recorded its highest ever price to date some months after Elon Musk and Tesla announced their investments in Bitcoin peaking at above $60,000.

Though the value of Bitcoin in the crypto market suffered a crash to half this price in May 2021 due to rumors of Tesla selling its Bitcoin holdings, the price is still on the high side when compared to how it was a year ago.

The Features of Bitcoin

It is Decentralized

The very first and intriguing feature of bitcoin is its decentralization. This simply means that there is no central power or regulator as the case is with traditional currencies which are designed, issued, and managed by a central authority.

Transparent transactions

Bitcoin transactions are visible to everyone in the digital world of cryptocurrency though Individual Bitcoin assets are concealed to promote privacy and confidentiality which motivates positive trading.

Anonymity

It is to be stated here that the identity of users of Bitcoin remains anonymous and the chances of tracking transactions back to Bitcoin users are very minimal. This is to prevent online robbery or digital theft.

Fast transaction

When compared to other modes of transaction such as bank transactions, bitcoin transactions are faster.

Nonrefundable mode of transaction

Bitcoin transactions are a one-way mode of transaction. Any transaction made from a sender to a buyer cannot be reversed unless the buyer is willing to do so.

Digital Currency

Bitcoin is not a physical currency but a digital one. You can never carry a bitcoin in your purse or pockets in the form of notes or coins, but you can easily carry it on your phone or tablet.

Simple to use

Most of the time, to open and manage a bank account is quite tedious and long. This is not the case with a Bitcoin account. You can set up your account in a matter of minutes.

Value is determined by demand

The value or price of Bitcoin is not fixed like other assets. It depends on market dynamics. The value of Bitcoin is determined by the strength and volume of its demand.

How to Buy Bitcoin

If you are interested in buying Bitcoin in Nigeria and ready to explore the untapped benefits in the world of cryptocurrencies, there are different exchange platforms, brokers, and marketplace that can help you. Below is a guide on how you can go about this.

Buying Bitcoin on Binance

Binance is the biggest cryptocurrency trading platform on earth today, recording up to $2.46 trillion in May 2021 transaction volumes. The platform offers the largest trading base for listed crypto and offers the major trading pairs with leads like BTC, ETH, XRP, USDT, DAI, BNB and BUSD on the P2P front.

At present, to buy Bitcoin in Nigeria using the Binance platform will only be possible using the P2P platform it offers. Firstly, you need to register your new account using this process:

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           You need to sign up for a new account  and complete the KYC procedure
      

·        Your driver’s license, international passport or national ID card will be needed

·        You also need to link a bank account to your profile to use for the transactions

·        You will be notified if your application is successful, and you can start using your new account.

How to buy Bitcoin on Binance P2P  Platform

On the platform, log in to to your account, and navigate to the P2P page from your account dashboard.

  • Locate the  the P2P and express tab and click on your preference
  • With the express tab, the platform matches you with the available sellers on the platform with you deciding
  • transfer the funds to the seller and wait for at lest 15 minutes
  • You will have to click on payment made tab to notify the seller
  • Your BTC will show up on your balance after the seller confirms receipt of payment made.

Buying Bitcoin on the Coinmama Exchange platform

Coinmama as an exchange platform was founded in 2013 with the mission of making simple how Bitcoin (BTC) is traded. The platform has more than 2.9 million users in over 190 countries in the world. It also provides the platform for some users in selected markets to sell their Bitcoin.

How to open an account on Coinmama

  • Go to the sign-up page to create your account. Fill in your email in the allocated spaces as well as your country of residence to get started.
  • Thereafter, click on the verification link sent to your email

Verification

  • Complete the requested form to confirm your identity and safeguard your account.
  • Thereafter, you will be required to upload an ID to approve you for purchase. Choose the ID type you will like to upload based on your country of residence. Take a photograph of the front and back of your ID with your phone camera with all four corners visible and clear image and text, then upload them to your account.
  • Then, write “Coinmama” and date on a piece of paper. Hold the paper and the ID you’ve just uploaded and take a photograph of yourself. Ensure your face, ID, and paper note are visible. Then upload the photo to your account.
  • After successfully uploading, click to submit. Your form and documents will be reviewed by the verification team for verification. If everything is okay, you will be approved to buy Bitcoin online with Coinmama within fifteen minutes.

How to buy

  • Sign in to your account to buy bitcoin. Select the cryptocurrency (Bitcoin) you want to buy and the currency of your choice
  • Select the package of your choice and input your desired amount, thereafter you can tap “buy”
  • Input your selected third party wallet address
  • A confirmatory link will be sent to your email to confirm your wallet address, click on it if it is correct
  • After your payment has been approved and the wallet address confirmed, the coins will be immediately delivered to your wallet.

Buying Bitcoin on the Luno Exchange platform

Luno has been in the cryptocurrency industry since 2013 with transactions worth more than 14 million dollars. The platform has customers in over 40 countries.

Must-Read: FIVE CRYPTOCURRENCIES WITH MORE THAN 10,000% ROI IN 2021

How to open an account on Luno

First, you need to go to the sign-up page to create your account. Similar to that of Coinmama

Verification

  • Complete the requested form by filling in your first name, middle name, gender, date of birth, phone number address, city, and zip code. You can also click on the ‘I’ve confirmed my email’ option in the Luno app. After which you will be automatically verified with the submitted phone number and personal details.
  • If not, you will be required to upload a document for verification (driving license, identity card, or passport). Open the Luno app and sign in, tap Profile on the Menu, navigate to Settings, select Upgrade. The document is required to show your identity number, name, date of birth, and a clear photo.
  • You may also need to confirm your address. To get this done, you will upload a photo or an ID which contains your name, address, residency, and issue date. This ID must not be older than 3 months.

How to deposit

  • Open the Luno app and sign in
  • Select Wallets from the menu
  • Choose your local currency wallet
  • Select Deposit
  • Choose the method with which you’d like to top-up your wallet
  • And follow the on-screen prompts from there

How to buy

  • Verify your identity on Luno.
  • Deposit to your local currency wallet, once it reflects in your wallet, then you can proceed to buy.
  • Thereafter, you can simply tap the specified amount on the homepage screen to buy or specify the amount of your choice. Then pay or make use of Luno Exchange.

Buying Bitcoin on Coinbase

Almost all users begin their crypto journey through Coinbase. The platform has been in the cryptocurrency industry since 2012 with quarterly trade worth more than 335 billion dollars. The platform has more than 56 million verified users, 8,000 institutions, and 134,000 ecosystem partners in over 100 countries.

How to buy on Coin base

  • Sign in to Coinbase. Account creation and verification quite like Coinmama
  • Choose either Buy / Sell on the upper right-hand side.
  • Select the Buy field to choose the asset you’d like to purchase. 
  • Specify the amount you’d like to buy either in crypto or your local currency.
  • Choose your payment method.
  • Click Preview Buy to verify your purchase (you can always click the back arrow to make a change).
  • If your details are correct, click Buy to complete your purchase.

Buying Bitcoin on eToro

eToro is a social trading network founded in 2007. It is among brokers hosted on trusted brokers.ng. You need to register an account on the platform to buy bitcoin.

Opening an account involves:

Uploading a valid ID (ID Card or Passport) and a proof of address (electricity, water bills, etc.), through eToro’s platform. Approval takes less than a day.

To buy Bitcoin on eToro:

  • Select a bitcoin exchange or trading platform, in this case, the eToro trading platform
  • Ensure your account is verified
  • Deposit through your preferred deposit method and buy bitcoin fractionally.

Buying Bitcoin on plus 500

Plus 500 is a trading platform founded in 2008 which allows for the trading of cryptocurrencies among other commodities such as Forex and ETFs.

It is among the brokers hosted on trustedbrokers.ng. Though it is one of the main trading platforms in the United Kingdom, it is not open to customers from Nigeria.

Buying Bitcoin on marketplaces such as Localbitcoin

LocalBitcoins is an escrow service that serves as a crypto marketplace helping to match bitcoin buyers and sellers. Users are free to advertise trades for any payment method they choose. Below are five steps you can follow to buy bitcoin:

Step 1:  Register

Register an account with LocalBitcoins.

Step 2:  Search for advertisements

After registration, go to the main page, and search for offers.

Step 3: Select an advertisement

From the list shown, select offers.

Step 4: Pay the seller

Evaluate the offer and pay

Step 5: Mark payment complete

Click the paid button and the transaction will reflect in the wallet

How to store Bitcoin

In the same way money or cards are stored in a purse or handbag containing a wallet, bitcoins are also stored on the phone or computer desktop hosting a digital wallet whether web-based or on hardware.

Bitcoin Price Outlook

Though Bitcoin has struggled over the past few months, even falling by more than half in April 2021, many analysts that bitcoin may overtake the U.S dollar as the dominant form of global finance by the year 2050 which puts the price of Bitcoin at above $66,000 by the end of 2021.


Recommended: How NFTs and Cryptocurrencies are Making Inroads Globally

All You Need To Know About Making Money With Binance Peer-To-Peer Trading In Nigeria

Binance P2P platform gives sellers of crypto the avenue to meet buyers with no hindrance and fees. It is fast becoming the preferred way to trade crypto in Nigeria.

Nigeria is presently the second leading global center for online searches conducted for bitcoin after America according to recent Google data. The range of uses for cryptocurrencies in Nigeria includes remittance for imports, support for family and friends as well as settlement of other bills.

The unfolding scenario makes Nigeria a huge market for crypto service providers, and with Binance as a formidable global leader, we have set out in this guide all you need to know about Binance P2P, and how it works in Nigeria.

What is P2P trading?

When a trader and a seller get matched on a cryptocurrency trading platform with no intermediary taking custody of fees or value thereof, it is a Peer-toPeer setting at work. with Binance, users of the P2P platform are able to buy and sell crypto with ease using their wallets and bank accounts or agreed payment methods.

What to know before getting started?

  • You need to have a registered account
  • Provide KYC details like proof of ID, BVN, and a phone number
  • Binance holds on to the crypto in escrow till the seller confirms receipt of payment
  • The seller should not release the crypto without confirming that expected payments is received
  • A private messenger is available on the platform for ease of buyer to seller chat or to contact customer support.

All of these above safeguards are necessary to avoid sellers and buyers losing funds to fraud, and the process is credible if adhered to always.

How can you make money with P2P trading?

Any market where there are sellers and buyers offer a chance to make money, and Binance P2P platform is not different.

Many people are online and looking for ways to bypass the forex shortages in the country and cryptocurrencies are a formidable pathway. You can trade NGN, DAI, BNB, BTC, XRP, USDT BUSD and ETH on the platform.

1. Work with clear terms

On your sales page, state your transaction terms in simple and clear terms and be sure to abide by these terms. You can state:

  • Make payment to the recipient provided and send me an SMS
  • Or please send a private message after payment or send an SMS
  • Expected turnaround time is 15 minutes, please be patient

If for any reason you are not able to meet the terms, be prompt to communicate this to the buyer to avoid a dispute initiation.

2. Use a reasonable profit margin

For example, if BTC/USD is 40,000, selling at $40,500 will net you more buyers than using $42,000, this is as there are many buyers and sellers on the platform. Several transactions over a month can earn you up to $4,000 in fees instead of waiting for three months to make a single sale with a high margin.

3. In-demand payment methods are preferable

Whether it is you setting your terms or working with someone who does, you need to stick to in-demand payment methods. Do not make assumptions or vague descriptions.

Be bold to say, “Pay to XYZ Bank only” or ‘’Send cash with a money agent only”. Either way, the funds can only be sent to the account or recipient that you have provided.

4.Be friendly with helping new traders

On the platform, you are going to come across new traders, and they might not be familiar with the processes. If you come across one, be patient and provide some guidance. The Binance P2P platform has a private message function that is free of charge to use between sellers and buyers, you can message the buyer to make clarifications.

5. Be responsive

it is your personal duty to be responsive and make sure that you respond to enquiries in a timely manner to keep good ratings. If more buyers rate you poorly and line up complaints on your profile, you will lose your patronage and be out of business in no time.

How to become a verified merchant?

The process here is simple and you need to adhere to the requirements to be accepted:

  • Open a new account and be registered
  • Be KYC-compliant and at least 18 years old
  • Provide a utility bill as proof of residence
  • Have a fiat bank account in your name with at least $100 or its local equivalent
  • Complete and submit an application form
  • You also might need to shoot a small video, holding your ID card, and an inscription that is required of you in order to validate your ID.

With these steps completed above, you will be able to get an approval to become a seller in Binance P2P platform.

Are there risks in P2P trading?

There is a good chance to make money with the P2P platform and there are inherent risks too that are worth highlighting. The safeguards are also shown side by side.

  • Avoid losses as a seller by refusing to take your trades outside the platform so as not to fall prey to scams. Binance provides escrow account to house your crypto till you have confirmed receipt of funds
  • Take an additional step to log into your banking platform to confirm your buyer’s deposit to avoid releasing crypto when payment is not made
  • Use a second phone number different from your bank alert phone number as unscrupulous people can send fake alerts to your phone perpetuate fraud
  • If a payment claim is made by a buyer and it does not reflect in your account, you can file an appeal to get come information and customer support assistance.

Tips to get more trades

You can get more trades by using these tips:

  • Use your referral code and share on social media
  • Post the link to your seller’s profile on your social media pages or crypto-themed groups
  • Join the Binance Africa/Nigeria Telegram group and you can win some referrals there.

How to buy on Binance P2P Platform

Binance is a cryptocurrency exchange platform that was created in 2017. It also provides cryptocurrency users with wallets to store their cryptocurrencies.

How to open a Binance account

  • Go to Binance and click the “Register” button. 
  • Fill in your email address and select a secure password. If your friend gave you a referral code, you can also input it in the “optional Referral ID” space created.

Verification

  • Follow the steps given for verifying your account by clicking the code sent to your email address or mobile number.
  • You may also be required to upload an ID or document or level 2 identity verification. Please follow all the instructions given for easy verification.

Currently in Nigeria, the easiest way to buy Bitcoin on Binance is the P2P platform , which does not necessarily need you to make a deposit

How to Buy Bitcoin on Binance

Because of the regulations on cryptocurrencies trade by the Central Bank of Nigeria, a new way was devised by exchange platforms such as Binance to make buying Bitcoin easier. This new way is what is called Peer-to-peer transactions or P2P. It connects buyers to sellers directly with no transaction fee unlike other platforms on both app and website.

This method allows you to buy bitcoin from several sellers online. Below are the three steps to follow to buy your bitcoin successfully.

Step 1: Pick your preferred currency and payment method.

  • Click on the P2P section.
  • Select the Buy tab and the BTC crypto. Then click on the filter icon at the top-right part of your screen
  • Select your preferred method and currency. As a Nigerian, you are to select Naira and Transfer via Bank.

Step 2: Make transaction

  • Choose an offer from the offers displayed
  • Input the number of coins you want to sell, choose a payment method, and click on Buy BTC.
  • Thereafter, make a transfer to the seller’s account using the information provided before the time lapses. You may also chat the seller up.
  • Ensure that you send the money to the seller and tap on Transfer next.

Step 3:  Bitcoin transferred to your wallet

  • Click on Confirm. Avoid doing this if you have not made any transactions. (It is a violation of the P2P User Transaction Policy).
  • Thereafter, the status of the transaction will display pending.
  • After the seller can successfully confirm, Bitcoin will be transferred to your wallet.

Start Selling and Winning

You can start selling on the Binance P2P platform with all the insights provided in this guide. Be mindful of the safeguards, and you will be able to make a decent amount of income and ROI.

FIVE CRYPTOCURRENCIES WITH MORE THAN 10,000% ROI IN 2021

The mind-boggling returns posted by crypto projects are eye-opening. Some of the chart toppers are really making a difference.

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A review of top performing coins and tokens for 2021

For an investor, cryptocurrency has the potential to be a great asset class. The notion that this digital currency can be used to store value on a decentralized and distributed basis in the future is very compelling.

Some cryptocurrencies have better platforms for investment due to their exponential ROIs. This guide discusses the top five cryptos that provide the best investment opportunities for investors and traders over a considerable timeframe.

Read Also: How NFTs and Cryptocurrencies Are Making Inroads Globally

Binance Coin (BNB)

Binance is a combination of the terms “binary” and “finance,” which implies that it provides a top-leading crypto peer-to-peer (P2P) exchange for holders within the Binance ecosystem.

Unveiling the BNB Team

The Binance exchange is operated by Beijie Technology, a holding firm founded by ChangPeng Zhao in 2017. Zhao’s partnership with the Binance team, alongside the efforts from the company’s co-founder and CMO, He Yi, has made this exchange a force to reckon with in the cryptocurrency sphere.

BNB’s Selling Point

The Binance Coin, like other cryptocurrencies in development, has a variety of applications outside of the Binance exchange, including credit card payments, trading, booking travel arrangements, payment processing, discounted transactions on the exchange, loans and transfers, investment, and entertainment.

Alternatives to Binance Coin

Binance coin isn’t the only coin out there that takes it home in terms of trading fees, trading volume, compliance, regulations, and asset availability. Other ideal alternatives to this crypto include Coinbase, Uphold, HitBTC, Poloniex, NiceHash, and Kucoin.

BNB Statistics

BNB has a market cap of over $60 billion and a total available coin supply of 153.43 million BNB. It ranks 5th on the cryptocurrency market. The crypto as the default currency of the Binance ecosystem, entitles holders to airdrops of new projects that launches on the Binance Smart Chain.

Another notable factor is BNB’s ROI of 343576.59%. As of the time of this report, the cryptocurrency is worth $405.

IOTA (MIOTA)

Unlike other cryptocurrencies, IOTA doesn’t function as a blockchain. Rather, it is a distributed ledger that runs on Tangle – Its proprietary backbone system.

It comprises nodes implemented towards confirmation transactions on the network. Hence, Iota has faster transaction speeds, compared to the traditional blockchains. This feature and many more places the crypto at the forefront of digital currencies in the IoT ecosystem.

IOTA Team

Iota is co-founded by four individuals, namely David Sønstebø, Serguei Popov, Dominik Schiener, and Sergey Ivancheglo. Serguei Popov, IOTA’s Foundation’s director of research is also a board member of the company, while Schiener and Sønstebø are co-chairmen of the board of directors.

IOTA’s Selling Point

The IOTA network provides secured transaction, but with a difference. It gets rid of the implementation of blocks.

According to David Sønstebø, “IOTA is designed to provide one solution that no other crypto does: efficient, secure, lightweight, real-time micro-transactions without fees.”

IOTA’s Alternative

The following cryptocurrencies are ideal replacements for IOTA, when factoring in instant transactions, real-time transfers, currency agnostic, transparency, fast P2P transactions, and Coinbase trading: Nano, Ripple, ZCash, and Stellar.

IOTA Statistics

IOTA has a total coin supply of more than 2.7 billion MIOTA. Its ROI sits at 218466.67%. In 2019, Bitrue users witnessed 7,000 IOTA airdrop shared on the network. At the moment, there is no news on the next airdrop. Currently, the cryptocurrency is worth $1.25.

Ethereum

Ethereum is an open-source, decentralised finance (DeFi) blockchain technology. Its coin, Ether (Eth), is used to conduct secured transactions on the network.

Ethereum serves as a platform for a variety of cryptocurrencies. This ecosystem also allows for decentralised smart contract execution.

Ethereum Team

Ethereum was co-founded on July 30, 2015, by eight individuals, namely Gavin Wood, Vitalik Buterin, both of whom were ETH original authors, Charles Hoskinson, Anthony Di Lorio, Joseph Lubin, Mihai Alisie, Amir Chetrit, and Jeffrey Wilcke.

Ethereum’s Selling Point

According to Gavin Wood, the Eth blockchain serves as “one computer for the entire planet.” This implies that the blockchain creates a robust, censorship-resistant ecosystem for holders and investors.

Ethereum’s Alternative

The following platforms provide ideal alternatives to Ethereum: IBM Blockchain, Azure blockchain workbench, Kaleido blockchain, Amazon Quantum Ledger Database (AQLD), and Hyperledger.

ETH Statistics

There is a total of 116,125,822 ETH coin in supply, and at the moment, the crypto is worth $2,766.70. It also has an ROI of 96440.92%.

Stratis (Strax)

The Stratis network comes fully packed with several features that make transactions quicker and more secure. They include a proof-of-identity model, private sidechains, smart contract deployment, and full node operation.

The blockchain is powered by STRAX, used for payment and smart contract execution.

Users can create crypto wallets on the exchange and access consulting services via the Masternode.

Stratis Team

Strax’s existence is attributed to Chris Trew, the brain and founder of the enterprise-based blockchain. A C# programmer and IT expert, Trew created the Stratis BaaS platform based on the Bitcoin (BTC) protocol.

Stratis Selling Point

Financial service companies and other organisations can use the Stratis platform to test, develop and deploy DApps without having to worry about network security and operating expenses.

Stratis does so by allowing enterprises to create permission-granted, private sidechains that interface with the main chain, as well as host decentralised apps, execute smart contracts, and use other privacy and identity verification features.

According to its whitepaper, this technique allows businesses to utterly personalise their platforms without the constraints of depending on a big blockchain like ETH or BTC.

Stratis Alternative

Ideal alternatives to STRAX include Tron (TRX), EOS, Bitcoin Cash (BCH), and Litecoin (LTC).

Stratis Statistics

The Stratis BaaS platform has a total of 131,860,808 STRAX and an ROI of 11156.53%. Each coin is currently worth $1.55. So far, there are a total of 100,000 STRAX available to airdrop users.

Bitcoin (BTC)

This list will be incomplete without discussing Bitcoin – the pioneer of cryptocurrencies. This DeFi exchange provides P2P transactions devoid of intermediaries.

It implies that users on the network can send and receive BTC securely. Based on the founder’s views, the exchange creates a platform where “online payments can be sent directly from one party to another without going through a financial institution.”

The BTC coin may be used to acquire physical assets, and crypto traders may trade on the exchange as well.

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Bitcoin’s Team

The real identity of Bitcoin’s founder still remains a mystery to date. Although to the general knowledge, the founder goes by the name Satoshi Nakamoto, there is a divided school of thought that this name might belong to an individual or a group of people using it as an alias.

Even though it was founded in January 2009 by Satoshi, several groups of developers have contributed to making the exchange a robust and secured crypto ecosystem for holders, investors, and traders.

Bitcoin’s Selling Point

The fact that Bitcoin was the first cryptocurrency to exist on the market gives it a distinct edge. At the moment, the cryptocurrency market is worth over $300 billion, thanks to the emergence of BTC.

The creation of the first cryptocurrency provided a conceptual and technological foundation for hundreds more competing ideas to follow.

It has also succeeded in establishing a worldwide community and spawning a completely new economy of millions of users who produce, invest in, trade, and utilise Bitcoin and other cryptocurrencies consistently.

Bitcoin’s Alternative

Crypto users who want to invest in other cryptocurrencies, other than Bitcoin, can purchase the following coins: Ethereum, Litecoin, Ripple, Dogecoin, Lisk, MaidSafeCoin, and Dash.

Bitcoin Statistics

Bitcoin has a maximum supply of 21 million BTC and a total supply of 18,724,856 BTC. Currently, one BTC is worth $37,929.96. Investors can purchase a handful of BTC coins as the crypto has an ROI of 28040.65%.

In Conclusion

Cryptocurrency is an excellent long-term investment alternative. It is important to note, however, that trading is not without risks.

Other than that, you may make financial transactions on the marketplaces discussed in this guide and grow your portfolio.