Cryptocurrency trading without resellers. P2P trading gets more and more popular – Crypto-Upvotes experts

Decentralized transactions allow buyers and sellers to set their own terms for cryptocurrency transactions. Main benefits and disadvantages of P2P

Peer-to-peer (P2P) trading is direct trade of users with each other without an exchange as an agent. When working on a traditional crypto exchange, platform organizes transaction on behalf of client. And market price determines the exact price of asset at moment of transaction. P2P trading implies a transaction directly between users on terms they choose.

However, such transactions carry certain risks due to lack of a third party. Large platforms provide some protection for the parties to transactions by offering escrow accounts, feedback systems and user ratings. When making P2P transactions outside of a crypto platform, risks of coming across scammers increase a lot.

How P2P works

A P2P platform is a meeting place for buyers and sellers. Allowing them to conclude a deal on favorable terms for both parties. A user publishes an ad on a platform, specifying specific terms for buying or selling cryptocurrency. These are terms such as price, payment methods and limits.

Second party browses listings and, after selecting optimal conditions, places an order to conduct a transaction with a specific seller. Platforms offer a variety of filters for searching. You can select merchants by their location, payment methods, rating, and even view only those who are fully verified. Most platforms offer information on specific sellers: how many orders they executed, customer reviews, and trade volumes.

Exchange is a guarantor of transaction transparency and honesty. Also platform resolves disputes between its participants. Many exchanges offer escrow for transaction time. Escrow accounts are used: assets are held on them until a buyer makes a payment.

Verification is not always required to work on P2P platforms. Some services do not require personal information. And somewhere they only ask for a phone number or e-mail address. But there are also platforms that require full KYC verification and Google Authenticator. Sometimes services ask for additional information to increase trading limits. But mostly they allow trading cryptocurrencies without disclosing a lot of personal information.

Also, to attract new users, cryptoplatforms offer referral programs. Client receives a percentage of exchange commission from each transaction of their invited users. Opportunities for market participants to buy cryptocurrency on P2P exchanges are constantly expanding.

Benefits of P2P

  • When trading on P2P exchanges, many more payment methods are available compared to traditional platforms. Payment methods include bank transfers, cash, using e-wallets, PayPal, gift cards, SWIFT transfers, Western Union and others.
  • P2P platforms in most cases allow traders to connect to a service and conduct transactions with zero fees. Not all P2P exchanges offer such service. That’s why it’s a strong point to review terms and conditions of your chosen marketplace. Some exchanges impose a small commission for placing an ad or % of transaction amount.
  • Transaction protection with an escrow service blocks funds until parties comply with transaction terms. If either party fails to do so, cryptocurrency or fiat funds are returned.
  • You don’t have to have a bank account to buy cryptocurrency on a P2P exchange. Most platforms require only Internet access and a phone.

Disadvantages of P2P

  • Although P2P transactions are fast enough, one party may delay the transaction for a variety of reasons. Also, buyer or seller may change his or her mind and cancel transaction while processing transaction. A normal transaction can take anywhere from 10 min to several days (depending on chosen payment method).
  • Liquidity on P2P platforms is lower than on CEX exchanges. Therefore, traders making large transactions usually prefer to work on a standard exchange or over-the-counter trading. When platforms provide options to buy and sell cryptocurrency from an administrator or broker (OTC).

Our Crypto-Upvotes experts warn that as with many other cryptocurrency transactions. When you trade on P2P-platform there is a high risk of entering into a deal with a scammer. To prevent meeting with a scammer, you should choose a solid platform for transactions and carefully read statistics of partners. Or choose large CEX exchanges for P2P trading: Binance, OKX, etc.

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How to earn in GameFi industry advice from our Crypto-Upvotes experts

Blockchain entertainment is not only fun, but also profitable. What options does play-to-earn open, and what are the prospects for the development of industry GameFi ?

GameFi are blockchain projects that allow profits for gaming experience: users earn profits for participating in game. All player items and rights become their property: characters, land, artifacts, clothing, and more.

Project developers choose the cryptocurrency for payments within the project. However, more often than not, each platform creates its own token. Some projects may require a small investment to start gaming activity, but mostly you just have to play.

There are other options for earning money at GameFi. NFT items can be sold. The price of game items will be higher the more popular a game is. You can also rent your virtual property. Or participate in tournaments or bet on the results of competitions. In some projects, you can put your earned coins in stacking.

Basic earning rules and how GameFi works

The main principle of earning in this industry is Play-to-Earn. Players are paid for what they play, which is either hours spent in the app or specific useful in-game actions. All schemes come down to a developer paying users to use their app. In this case, for the use of a project game. Depending on mechanics of these games, there may be slightly different ways of investing in such projects.

Our Crypto-Upvotes experts gave Axie Infinity as an example. In which to “multiply NFT characters” players need to spend in-game currency SLP. If player numbers continue to increase, it might be enough to buy such a token, in the hope that increased demand will drive up prices.

More critical investors can take part in gameplay. Then their earnings will come from the sale of game currency and newly obtained “characters”. There are many such games, but their principles are similar.

A recent trend on STEPN showed that projects actually create very different ‘something-to-Earn’ mechanics: run, jump, play, breathe and even have sex. But each project is unique in some way, and you have to study its history and perspective individually.

In some projects it is enough to buy control tokens. And somewhere the game will involve the investor in internal processes. For ordinary players everything is simple – they exchange their time for the developers’ money. One only needs to assess the risks if entering the game requires an initial investment to buy a starter set of tokens.

GameFi principles are not new, although the association of projects with blockchain has renewed interest in a whole industry. All principles of generating some profit existed before decentralization of games. In most cases, if a player gets something for free. Then money in this transaction is a player himself – his time, personal data, behavioral information, his attention, etc. All of this can be sold to analysts, advertisers, researchers, etc.

How to choose gaming projects to make a profit

First of all, it is better to pay attention to the major established projects with a large audience. For example: Axie Infinity, Alien WorldsCryptoBlades and many others. The tokens of these projects have the greatest liquidity, which will reduce risks from investing in them.

Another strategy could be to buy blockchain service tokens. In which most of the GameFi-projects are located. In addition to Ethereum and Binance Smart Chain, it is possible to buy more specific ones: WAX, EOS, KardiaChain, ThunderCore.

Our experts say that it is very dangerous to follow new projects without personal experience. Many of them are created for purposes of scams or financial pyramid scheme principles. Others may close due to bad business processes and external manipulation.

Our Crypto-Upvotes experts named promising projects where there is a strong gamer community with high involvement. This allows brands to integrate into gaming. Coins from game studios and native tokens from the top five most popular games are also worth considering.

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AirDrop: how to get cryptocurrency for free and not to be scammed – Crypto-Upvotes

Crypto projects often hold Airdrop promotions to give away their own tokens. What to pay attention to when choosing a project in which you want to participate.

Free token distribution or AirDrop – is one of options to get initial capital in cryptocurrency. But it can hardly be considered a stable way to earn money. In fact, no one guarantees that received free tokens will bring profit.

Most of free coins from new Airdrop projects can only be profitable in the short term. Free coins from famous projects can be used in a long term perspective. However, experience with Airdrop can be a source of insight into how cryptocurrency markets work.

What is AirDrop

AirDrop is a promotion for giving away coins for free after completing necessary conditions. A crypto project holds AirDrop cryptocurrencies to raise awareness and attract new potential investors. Most Airdrop launches are new startups or large companies that promote their new products.

Cryptocurrency is credited directly to users’ wallets if they meet certain conditions. Conditions can be different, such as registration, subscription, recruiting friends, and other simple tasks.

Why crypto projects hold Airdrop

Basically, AirDrop is conducted as a marketing campaign to attract attention to the project. Cryptoprojects use giveaways as a way to increase the number of holders.

Another option for AirDrop is to give away control tokens. In addition to their monetary value, these coins give their owners a say in decisions regarding the project. The project community makes decisions by voting. And the number of votes is proportional to the number of shares each token holder has.

How not to fall victim to scammers

A distinctive feature of AirDrop is that the distribution of coins is free. If the developers of a project make participation a condition of any financial investment. Then such an offer can be a scam. Participating in a giveaway may only require a financial investment if it is a DeFi project. Which work on such a blockchain, where you have to pay a commission to a network for transactions itself.

Scammers may ask you to pay a fee to “unlock” free coins you receive. Or make them buy a small number of these tokens first. In order to get more of them in next Airdrop giveaway.

Sometimes the user is asked for credentials to log in to a scam site when registering for a program. Or cryptocurrency keys or other personal data. Having received such information, scammers immediately use it to steal funds. Using this scheme, scammers use many different excuses to obtain confidential information.

Another variant of scam is requests to download “special” software. Or providing links that, when clicked, install malware. Most often such messages come after registering on fake sites of famous projects announcing AirDrop.

Scammers also use coins with names similar to famous tokens. In such cases, user receives a large number of coins to their wallet. In fact, it turns out that in order to get these coins you need to go to a scam site and connect your wallet. But you can’t do that because as soon as you connect your wallet you lose all your money.

If a crypto project offers you a very large amount of money for doing simple tasks. Then you should also be suspicious about such a project. In any case, having decided to participate in AirDrop. You need to carefully check all information about crypto project and conditions of participation in giveaway.

Where to find information about actual AirDrop

A lot of information and advertising channels in messengers and social networks publish announcements about free token giveaways. However, it is not always possible to trust such sources of information.

The best way to learn about AirDrop may be to visit the official websites of famous cryptoprojects. Or their verified social media accounts. Our Crypto-Upvotes experts recommend you to be careful and always study projects before deciding to participate in Airdrop.

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How not to lose money on IDO, advice from our Crypto-Upvotes experts

Even experienced investors sometimes find it hard to know which of the many young crypto projects is worth investing in. Our experts explain what kind of returns startup coins can bring. What is IDO and where their liquidity collections take place.

Raising capital for companies from a wide range of investors is a critical mechanism for creting new businesses in today’s economy. Crypto assets market is no exception and has its own formats similar to IPO model.

Almost everyone who has encountered cryptocurrencies knows what an ICO is and what happened to this market in 2018. In fact, ICO market is dead after the 2018 bubble, subsequently SEC severely restricted them. Statistics say that about 90% of all ICO ended up failing.

But having gone through a crypto winter, crypto market did not get rid of the natural need for liquidity inflows to nascent projects, which is where the new era of IDO and launchpad started.

IDO

To participate in IDO of a project, you will need, as in case of IPO, to get an allocation to buy tokens at a low price before their release on exchange. This is where the main investor profit is hidden. Launchpad already has quite a few – more than 70 platforms. As of today, almost $1 billion has been raised through them. And the average increase in investment was X25. It looks very good for investors, but there are big risks hidden here as well.

Analysis of IDO profits on several major launchpads

We decided to check some of major launchpads (Polkastarter and DAO Maker). And analyze their data based on Cryptorank data. Despite popularity of these platforms, we can immediately notice that each of them individually does not raise hundreds of millions of dollars. On average by platform, each project raises about $261,000. The average profitability on 2 platforms was 5%. In fact, this is the yield since the listing of project. In this material, we provide figures as of early June. When bitcoin was trading above $30,000 and cryptocurrency market was not at bottom as it is today.

Our Crypto-Upvotes experts decided to take a detailed study of one of most popular launch pads – Polkastarter.

The largest number of projects that raised funds on Polkastarter belong to the DeFi category. A total of 38 DeFi projects were placed on the platform. Of these, only 21% did not fall below listing price at end of day. Also of note are the indicators related to token price at historical highs (ATH). Indeed, if you held any new token placed on Polkastarter DeFi for an average of 21 days. You could hope for yields as high as 4,900%. But given the “survival rate” of projects, that would be a veritable casino with no chance of a fundamental prediction.

Most optimal IDO segment on Polkastarter turned out to be the projects serving the blockchain infrastructure. They showed lower returns on almost all metrics. However, with a more limited sample of 11 projects, 27% of projects traded above listing price as of early June, which is the best result across all segments of this platform.

Conclusion

It’s been 4 years since ICO bubble burst, 2 of which turned out to be very “depressing” for the crypto industry. On average, on the 2 largest launchpads, 73% of all projects today are trading below listing price. Thus, participating in project offerings on launchpads for long-term investors seems like a bad idea. Launchpads can be seen as part of a risky portfolio and sell project tokens for a very short period of time after they go to exchange. You should also be extremely careful when buying new project tokens. Once a project has been launched, you have little time to make a decision to sell. You run risks ending up with a token belonging to the same 73% of projects that are now selling below launch price.

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Solana releases Android phone Web 3.0 “Saga”, it will be fully integrated with Solana blockchain – Crypto-Upvotes

Solana released a Web 3.0 phone named “Saga” to appeal to a growing number of mobile phone users accessing digital assets.

Solana Labs has unveiled the “Saga” smartphone based on the Android operating system. “Saga” is a customized version of OSOM smartphone with built-in cryptocurrency wallet features. It will come pre-installed with Solana Mobile Stack. SMS a toolkit that allows you to create decentralized applications for mobile phones.

And so we found out that this smartphone will allow you to store digital assets and NFTs, sign transactions, and pay for purchases through Solana Pay. But it won’t just be a mobile phone. This device will support Solana-based apps and will have its own dapp Store. Solana Labs has said it intends to develop Saga ecosystem with partners like NFT marketplace Magic Eden, DeFi-platform Orca and wallet Phantom.

Also according to Solana website, this device features a 6.67-inch OLED display, 12GB of RAM and 512GB of storage space. The smartphone is based on Qualcomm Snapdragon 8+ Gen 1 chipset.

Also SMS toolkit supports the Seed Vault secure storage protocol for private keys. This latter puts them in a special enclave, separated from the wallet, applications and operating system. Solana Labs explained that SMS provides developers with a set of libraries and APIs that allow them to create decentralized mobile applications for Android devices. Solana Mobile Stack is already available for download on GitHub.

Want to buy this smartphone now? It is possible and our Crypto-Upvotes team found out how to do it.

“Saga” is expected to go on sale in early 2023 at a price of $1,000. Our experts found out that it is already possible to place a pre-order for 100 USDC – this amount will be deducted from the full price of smartphone, it is also already known will first be released in USA, Canada, EU and UK markets. So with an estimated price of $1,000. Saga mobile phone will compete with flagship models from Apple, Samsung and other mobile phone companies. With a strong ecosystem of software developers who can develop alternative Web 3.0 applications.

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