£0.00
The crypto world is growing day by day. More and more people are joining the crypto world every day. The value of cryptocurrency is reaching new heights. Big corporates to multi-millionaire investors are putting their money in it. Cryptocurrency is the next big thing. Many new investors are willing to get higher returns from it.
The interest in cryptocurrency is increasing. More people are showing their belief in digital currency. So, people are trying to cash on this opportunity. For buying and trading in cryptocurrency, one needs to choose a cryptocurrency exchange. A cryptocurrency exchange is an important
platform for all cryptocurrency holders. Choosing the right cryptocurrency exchange is a vital step. Below is the list showing important aspects while selecting a cryptocurrency exchange.
Security
Security is the most important concern when it comes to cryptocurrency. Also, security is the primary aspect while selecting a cryptocurrency exchange. So, one has to do a lot of research before selecting an exchange. It is essential to choose a legitimate and secure platform for this purpose. Recently, there are a lot of scams that are coming into the picture. So, an authentic and safe cryptocurrency exchange is the only option.
Purchasing method
The method of purchasing and transacting differs among multiple platforms. Different exchanges have different ways of accepting deposits. Some accept bank transfers and some accept PayPal. If one is new to this crypto world, one has to choose the exchange accepting fiat currency. Moreover, the transaction time also differs between different platforms.
Supported tokens
Most of the cryptocurrency exchange support Bitcoin and Ethereum. There is a long list of digital currency present in the market. Binance supports a long list of altcoins. Coinbase supports only four cryptocurrencies. So, this is also a vital factor while making a choice.
Trading platform / P2P exchange / Broker
There are three types of cryptocurrency exchange. The trading platform is very common. Here the users place their orders for buying or selling cryptocurrency. P2P exchange is a more open type of exchange. Here the buyers and sellers interact directly and trade among themselves. Cryptocurrency brokers are different from the above. Here the brokers fix the price and the buyer can purchase as per his choices.
Fee structure
The fee structure and the transaction fees also vary among platforms. This is also a critical aspect. Some exchanges
offer discounts. While some exchanges charge for trading, but the purchasing of tokens are free. So, exchanges have a variety of offers. Therefore, you should choose based on your requirements.
User interface and user experience
Another important aspect is the user interface and its functionalities. The interface should be user-friendly. From new to seasoned users, the user interface plays an important. It is essential for the user to understand the functionalities and use them at his convenience. Moreover, different people like different interfaces. Mostly, the exchanges with the best user experience see maximum growth.
So, the above-mentioned points are important while selecting a cryptocurrency exchange. All exchanges are different and they have different offerings for the users. So, it is important to understand your own priorities before selecting an exchange. It is good for one to choose an exchange that suits his criteria best.
Ethereum 2.0 and stalked pool
There are great expectations for the new Ethereum 2.0. The expected launch of Ethereum 2.0 will happen very soon. Also, the up-gradation will happen from the existing Ethereum network to the new Ethereum 2.0. The new ETH 2.0 comes with a lot of hope and promise. It will reduce network congestion. It will also come at a lesser cost. But there is a small problem here. Before the ETH 2.0 launch, the users have to lock or stake their ETH tokens in a smart contract. The use or
movement of these tokens will not possible till the up-gradation is complete.
Curve Finance launched a new innovation. This technology will be helpful, during the up-gradation from ETH 1 to ETH 2.0. It will be easy for the users to support both the networks during the upgrade. Till now, the amount stalked in Ethereum 2.0 is tokens worth $2 Billion.
The process
The process starts with Lido’s stalking service. It got launched in October. With this service, the users will stake the ETH tokens and will receive stETH tokens. stETH tokens will be an asset of equal value as the ETH tokens. In this way, the users will stake the ETH tokens and as well as use them.
Lido got funding in December. It was able to raise $2 million. In addition, it got funding from venture capital firms. It also got help from Defi investors. Stani Kulechov of Aave lending protocol also funded Lido. Kain Warwick of the derivatives protocol Synthetix also supported Lido.
The problem
stETH tokens are the same in value as ETH tokens. However, all the protocols are not designed in a way to handle the new stETH tokens. So, the stETH holders will not be able to utilize all the finance applications in the same way as Ethereum. Few automated financial protocols will not support stETH tokens. these are issuing loans, swap between digital assets, and gaining interest on deposits.
The possible solution
Curve Finance is famous for its cost-effective swap technology. It helps the users to swap between digital currencies and other assets seamlessly. Recently, Curve Finance announced the launch of a new trading pool.
This pool will support the swap between native ETH tokens and stETH tokens. Due to this, the users will be able to swap between the ethereum tokens with the least cost. So, the stETH holders can utilize all the finance applications in Defi. They will also be able to stake the ETH tokens for the upgrade to ETH 2.0 version.
This new Curve pool is an important part of the Ethereum development. All people interested in the development of the Ethereum blockchain will welcome this step. This will provide the users to utilize the tokens in both ways. The users can stake the tokens till the upgrade. Also, in the meantime, they will be using the tokens for all Defi applications. This is definitely a remarkable step in the crypto world. This technology will ensure the users to trust in the development of cryptocurrencies.
Previous reports
The year 2020 was a fantastic year for cryptocurrency. There was a significant rise in the price of bitcoin in 2020. There was a lot of debate and news related to this. This attracted many investors to bitcoin. Bitcoin saw its highest recently. The virtual currency was worth more than $33,000. Many investors are putting more money into bitcoin. This is due to its increasing value since 2017.
![]()
However, recent reports are quite shocking related to bitcoin.
Prices drop
Bitcoin’s value saw a significant fall on Monday. After a remarkable new year surge in prices, this is beyond expectation. Bitcoin is always known for its highly volatile nature. Prices fell down by 17%. This is the highest drop the cryptocurrency saw since March last year. The losses are majorly small as the nature of Bitcoin is most volatile. Above all, the cryptocurrency experienced a 50% hike in its value only in December 2020. The digital currency had a superb start in the new year. It touched $34,000 USD on Saturday. It was an all-time high for digital currency.
Expert’s opinion
Adrian Lowcock is the head of personal investing in Willis Owen Ltd. He mentioned that this drop in the price of bitcoin is a reminder for everyone. Tough it is prevalent in the market for a decade, but it is still a relatively new asset. This new-age currency is yet to make its mark in the investment market. He also added that Bitcoin has to cross major hurdles to becoming a useful mainstream asset.
Louis Gave is the co-founder of Gavekal Research. He said that the fluctuations in the price of Bitcoin are more interesting than many things. He added that Nasdaq stocks, Chinese internet plays are dull in comparison to this.
Probable causes
It is very difficult to figure out the possible causes in this world of cryptocurrency. The value of cryptocurrency fluctuated generally due to its volatile nature. The price of Bitcoin surged higher than 300 percent last year. Many companies and investors started opting for Bitcoin as a valuable asset. It saw a lot
of investment from retail and financial corporations over the past year. Many eminent personalities spoke in favor of Bitcoin. Also, many people believed that cryptocurrencies are the future of investment. Many companies were trying to expand their growth to popularize the cryptocurrency. Bitcoin was emerging as a mainstream asset.
Some people blamed the market’s supply constraints. Some said the money printing by central banks’ is an important factor. Others pointed out that cryptocurrency is yet to make a mark in the market. The indecisive risk-taking factor could also be one of the possible reasons.
Paul Hickey also gave his views. He is the co-founder of Bespoke Investment Group. He pointed out that the link between the rise and fall of Bitcoin with the value of the dollar in the market. In addition, he said that the surge in the price of Bitcoin could be due to weaker dollar value. He mentioned that the last time dollar prices declined was in 2017. It was the same time when Bitcoin surged exponentially and got into mainstream.