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Attorney General Ford Urges Nevadans to Protect Themselves From Cryptocurrency Scams
As National Consumer Protection Week continues, Nevada Attorney General Aaron D. Ford advises Nevadans to be on alert for cryptocurrency scams. As we increasingly live our lives online, major retailers including AT&T, Overstock, Subway, and Twitch have adopted cryptocurrency – digital currency that exists virtually – for everyday transactions. Even banks, such as Bank of America, JPMorgan Chase and Ally Bank, have become crypto-friendly. Unfortunately, scammers have also adopted their tactics to capitalize on this emerging market and rapidly developing technology.To get more news about crypto exchange scams, you can visit wikifx.com official website.
“The safety of Nevada consumers is a top priority at my office,” said AG Ford. “As technology becomes an increasingly integral part of our lives, scams involving digital currency are becoming more prevalent. We want Nevadans to know how cryptocurrency works and what they should watch out for to protect themselves and their families.”
How Cryptocurrency Works
While there are crypto-friendly banks, cryptocurrency is distinct from traditional U.S. currency in that is does not come from a centralized entity, like a bank. Traditional currency comes from two sources – the Bureau of Engraving and Printing produces paper currency, and the U.S. Mint produces coins. Cryptocurrency, however, is produced and managed online and contains its own accounting system based on the technology with which it is produced. This technology, known as blockchain technology, acts as an immutable virtual ledger, ensuring each transaction is secure. In other words, cryptocurrency is both a virtual currency and its own secure accounting system. Blockchain technology allows information to be distributed and recorded but never changed once a virtual transaction has occurred.
Cryptocurrency is often stored in a digital wallet that is maintained virtually. This digital wallet is used to store a private key – a personal alphanumeric code – which allows you to participate in transactions and confirm ownership on blockchain.
Lastly, you cannot physically withdraw cryptocurrency. However, Cryptocurrency ATMs allow you to exchange your cryptocurrency for cash you can physically withdraw. The amount of cash you ultimately withdraw is based on the current market rate for that particular cryptocurrency at the time of the withdrawal. There is not one, singular cryptocurrency, but many, such as Bitcoin, Ether and Tether. Like traditional currencies, each can have a different volatility level and exchange rate.
An Unlikely Venue for Cryptocurrency Scammers: Dating Websites
While many of the federal financial laws are being extended to better regulate cryptocurrency, the extent and breadth of regulation is evolving. With so much changing the world of cryptocurrency, scammers haven’t failed to take advantage of unsuspecting consumers even in the most personal of venues – dating websites, where cryptocurrency romance scams are on the rise.
In a cryptocurrency romance scam, a scammer often creates a fake dating profile, using pictures and providing information, such as location, interests or experiences, that are not true. Often, the pictures are of very attractive men or women, which are purposely chosen to lure as many victims in as possible. Once matched with someone, the scammer will begin chatting just like anyone else – sharing basic information that is fake. The scammer may even ask you about your likes, dislikes and friends, leading you to think a romance is blossoming.
The scammer may keep chatting with you for days or even weeks to build trust. The scammer may even seem like they are jealous of your time or attention. However, the same scammer will conveniently never initiate an in-person date or even a phone call. The scammer may even ask if your communication could move to a messaging app, such as WhatsApp or Telegram.
In one instance, the scammer asked if the victim-target had ever thought about investing in bitcoin and offered to teach her. When she declined, stating she didn’t have the money to invest, he continued to pursue the subject, adding she would only need $1,000 to begin investing. Even more, he offered to cover whatever she might lose. When she again said no, the scammer argued that she didn’t trust him and stopped talking to her.
Unfortunately, these types of cryptocurrency investment scams via dating apps are all too common, leading even the dating websites to advise its users to not provide financial information to potential dates and report those who ask. It is important that consumers are aware of these scams and arm themselves with information to protect themselves.
Yale increases investment in blockchain research
This time last year, Yale was unranked in CoinDesk’s Best Universities for Blockchain. A year later the University places 34th overall, on par with Harvard and other major universities around the world.To get more news about blockchain field survey, you can visit wikifx.com official website.
The report’s results recognize Yale’s recent significant investments into blockchain research, including the hiring of four new blockchain experts to the Computer Science faculty, — Ben Fisch, Charalampos Papamanthou, Katerina Sotiraki and Fan Zhang — one of whom is leading a project that has received a $5.75 million grant for blockchain development.
“In the last few years, blockchain, as an interdisciplinary field, has spurred a huge amount of development in distributed systems and cryptography and their intersection,” said Fisch. “This is also why it’s such a fascinating academic topic, because it ties together so many different fields, not only from computer science, but also from economics, law and policy. Yale has a very unique combination of strengths in all these different areas, especially at present.”
In August, Yale blockchain researchers accepted a $5.75 million grant from the Algorand Foundation, a not-for-profit organization focused on the development of blockchain technology.
The grant will support PAVE: A Center for Privacy, Accountability, Verification and Economics of Blockchain Systems, which will be led by Papamanthou. PAVE will bring together a cross-disciplinary team of experts from four institutions — Yale, Columbia University, the City College of New York and the Swiss Federal Institute of Technology Lausanne, with Yale being the leading institution — to advance research of blockchain systems.
Apart from the technical agenda, PAVE will also host hackathons, symposiums and blockchain summer schools.
The expansion of blockchain research at Yale coincides with the rise of the blockchain technology market. The value of blockchain technology in the banking, financial services and insurance sector market is expected to grow by $4.02 billion between 2021 and 2026, according to Technavio. The Technavio study found that easier access to technology and disintermediation of banking services will create more growth opportunities within the industry.
Papamanthou believes the hirings acknowledged the importance of blockchain, and that the University has more generally “acknowledged the interdisciplinary nature of the blockchain space.” He emphasized the University provides opportunities to explore the blockchain industry, such as interdisciplinary majors like computer science and economics.
Papamanthou spotlighted the newly established Roberts Innovation Fund created by the School of Engineering and Applied Sciences, which assists blockchain projects that could be commercialized through funding and mentoring.
An increasing number of students are interested in the field of blockchain, according to Mariam Alaverdian ’23, president of the Yale Blockchain Club.
Alaverdian explained that because of the many applications of blockchain technology — from personal identity security to healthcare to money transfers — the emergence of blockchain into our lives is “inevitable.” She added that the Yale Blockchain Club has seen interested students come from a variety of backgrounds, with some having no prior exposure and others who already have startups in the space.
“The Yale Blockchain Club started last spring and we received a lot of attention from Yale undergraduate and graduate students,” Alaverdian wrote in an email to the News. “We had 600 people sign up for our mailing list within a couple of weeks … there is definitely a high demand from Yale students for educational materials and guidance.”
8 Crypto Tokens To Buy For Growth Potential
The foundation of modern-day cryptocurrency trading started more than a decade ago when there were less than 50 options to choose from. If you are looking for a dependable financial instrument to earn long-term gains, cryptocurrencies can be an ideal option. Among the cryptocurrencies that are ruling the markets these days, DigiToads has emerged as a high-growth token that is garnering a lot of attention for the way it balances functionality with versatility. Still in its presale stage, the crypto token has raised more than $2 million so far; this figure reflects the token’s popularity in just four presale stages and there are six more phases to go. The following list features eight cryptocurrencies that can fetch you good gains while providing you with the benefit of a diversified portfolio. A well-diversified portfolio can help to reduce risk in the long term.To get more news about crypto token, you can visit wikifx.com official website.
1. DigiToads: Topping every analyst’s cryptocurrency ico list
DigiToads is a multi-functional cryptocurrency where users can explore a wide array of opportunities to earn passive income and build a sustained stream of returns. It makes this possible as its model leverages the features of three different cryptocurrencies —a meme coin, a play-to-earn portal, and a stake-to-earn platform. So, you can stake an NFT, trade a token, or even earn crypto tokens by participating in giveaways and other contests that the team will be organizing from time to time. For facilitating various transactional exchanges, the DigiToads team has developed a native called TOADS. The TOADS token can be bought on presale easily.
The total supply of these tokens will be split between different use cases that include public releases, presale, team tokens, maintaining the liquidity pool, holding contests, giving rewards and community bonuses, developing the platform, and other miscellaneous tasks. At 69.2%, the highest share of TOADS tokens will be reserved for presale and giving out rewards to community members. The community focus of the DigiToads platform makes it a great cryptocurrency to invest in and many experts have predicted that the TOADS token could register potentially huge gains after listing on exchange platforms.
2. Themis: Get the best returns for your yield-bearing assets
Themis is among the best cryptocurrency to buy in today’s market and has been designed as a decentralized lending and borrowing platform. Users can collateralize yield-bearing assets in exchange for high rewards. To start using the platform, users need to pick out an asset that they’d like to borrow or lend and the quantum. Yield-bearing and blue-chip assets can be accepted as collateral for securing a loan. Its native token is TMS and it is the medium of exchange on the network. Over time, the Themis ecosystem would be transitioning from an administrator-led mechanism to a community-led governance structure.
3. Artyfact: Building the future of gaming
Considered to be one of the altcoins to watch out for, Artyfact is a one-stop shop for all gaming enthusiasts. The platform aims to provide its users with a plethora of options where they can access entertainment by using its native token ARTY. Artyfact has been developed as a virtual world where one can win tokens by participating in Web 3.0 games, and purchase or trade NFTs which are represented as weapons, wearables, concerts, virtual properties, and even runaway shows, among other options. An added advantage of playing games on Artyfact is that you get to earn Rating Points (RPs). The higher a player’s RPs, the more the chance of them being able to access extra rewards and limited-edition NFTs. Using the ARTY Token, one can attend virtual events like NFT exhibitions, digital concerts, meetings, and runway shows that can help players interact with other community members.
4. Delysium: Where blockchain meets the power of artificial intelligence
Delysium is a blockchain-based operating system that is powered by artificial intelligence and enables users to access opportunities like staking and participating in play-to-earn games for earning rewards. Its native token is the Delysium Multiverse Accelerator (DMA) and is the medium of exchange of the network. The token opens doors to high-quality games that have stellar graphics for the token holders. Moreover, by holding the DMA tokens, one can also participate in the governance and decision-making process of the platform. When you stake a DMA token, you will get exclusive voting rights that you can use to voice your concerns and vote for a community proposal. Plus, there are daily incentives for users that can be accessed via the DMA dashboard. For many analysts, Delysium is among the best cryptocurrency to buy in the current market as token holders can enjoy priority access to NFTs minted on the network.
5. Arken Finance: Learning crypto trading basics with ease
Arken Finance is a blessing in disguise for those on the lookout for a token that could help them learn cryptocurrency trading for beginners. It has been designed as an abstract DeFi layer with multi-chain capabilities. Leveraging Arken Finance, rookie traders can explore multiple blockchain networks with ease to spot trading opportunities. Also, developers can create secure, user-friendly, and scalable dApps from scratch with the cutting-edge tools that the platform has on offer. Its native token is ARKEN and is the primary cryptocurrency on the network. What makes Arken Finance a top altcoin is the way it amalgamates Layer 1 and Layer 2 blockchains to develop a niche technology layer that reduces the complexity of software development while making the interface more user-friendly. Coming to Arken Finance’s trading protocol, users can look forward to multi-chain tools, liquidity pools, and protocols where they can search for new tokens, analyze price charts, detect the best rates to swap tokens, place limit orders, and do much more.
Best Crypto Exchanges & Platforms Of May 2023
Investing in Bitcoin is all the rage but how exactly does a beginner get started?To get more news about WikiBit, you can visit wikifx.com official website.
Do you need to already have Bitcoin to invest? Or do you transfer money from your bank account to somewhere and convert it to Bitcoin? What does that look like?
We’ll answer all of these questions and list 10 of the best cryptocurrency exchanges and platforms that allow you to buy Bitcoin and other tokens.Going forward, we’ll use BTC, which is the symbol for Bitcoin on exchanges and trading platforms.
If you just want to earn a high return with crypto, you might consider a crypto savings account. These accounts pay up to 12%, but do come with risks (just like regular crypto investing).
Best Crypto Exchanges and Investing Platforms
Here is our list of the 10 best cryptocurrency exchanges and investing or trading platforms. The cyrpto offers that appear on this site are from companies from which The College Investor receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The College Investor does not include all cryptocurrency exchanges or all crypto offers available in the marketplace.
1. Coinbase
Coinbase is by far the most popular and one of the best cryptocurrency exchanges because you can invest directly with USD. You can currently purchase Bitcoin, Ethereum, and Litecoin and 30+ other coins and tokens on the platform. Furthermore, you can earn interest on your USDT, and you can earn token rewards by completing various activities.
2. Binance
A great platform for getting into some currencies like Cardano or Neo. Not as easy to use as some of the top platforms on this list, but they do have one of the most robust trading platforms out there. They do have a decent mobile app, but again, not as easy to use and we've been frustrated with it. Try Binance here.
3. Uphold
Uphold offers simple solution to trading multiple assets — open one account and trade multiple assets without making a trip back to cash. If you've every traded crypto, you'll know a lot of coins and tokens only trade in certain pairs, so you're always going back to BTC or ETH. But on Uphold, you can trade multiple assets directly.
4. Kraken
Kraken is one of the original crypto trading platforms and they have a good selection of coins and tokens to trade and invest in. They also allow margin trading. However, it's a real exchange, and not as easy to use as some of the top platforms on this list.
5. Gemini
Gemini is a popular platform to invest in crypto as it was one of the first major exchanges, and today it's one of the largest by assets.
Gemini supports most major cryptocurrencies, has decent support and engagement, and pays competitive interest rates on assets, if you qualify.
Kaiko releases its Cryptocurrency Exchange Ranking for Q2 2022
Today, we are happy to announce the update of our cryptocurrency exchange ranking for Q2 2022. Kaiko's Exchange Ranking is designed to provide a comprehensive framework for understanding the fragmented exchange landscape, by assessing six criteria:To get more news about WikiBit App, you can visit wikifx.com official website.
Governance, Business, Liquidity, Security, Technology, and Data Quality.
The new scores reflect the various evolution that took place in the exchanges covered by Kaiko. Subsequently, the Kaiko Exchange Score - a weighted average of each individual score, and in some cases the Kaiko Exchange Rating, has been updated.
Key takeaways from this update:
The top of our leadership is still held by Coinbase whose Kaiko Exchange Score increased by 2 points to reach 93, followed by Binance and Kraken, both at 86.
Boosted by their governance effort, FTX, Binance, and Huobi are the top 3 best performers jumping respectively 13, 11, and 8 ranks.
When ranked in descending order of their liquidity score, Coinbase, Binance, and KuCoin occupy the top of the leadership.
Exchanges losing ranks can be partly explained by an extension of the coverage, with the following twelve new joiners and their ranks: FTX US (4th), BitBank (11th), , Bitmex (22nd), Zaif (26th), BeQuant (30th), TheRockTrading (34th), Btcbox (36th), OKX (37th), Coinmate.io (38th), HitBTC (43rd) and Bibox (45th).
To add to that, Coinbase is still the sole exchange with a triple-A Kaiko Exchange Rating, rewarding exchanges with a high total score but also whose individual scores are all above-defined thresholds.
The AA-rated group, formerly composed of only Kraken, Gemini, and Bitstamp, welcomes five new members: Binance, FTX US, CEX.IO, FTX, and BitBank.
A Benchmark Ranking
Kaiko's Aggregated Quotes, our regulatory-compliant crypto asset quotes launched earlier this year for buy-side investors, will also be updated to reflect these updates.
The Exchange Scores will also be used to filter exchanges eligible to enter into the composition of the soon-to-be-launched suite of benchmark rates and indices.
Kaiko's exchange ranking is freely accessible on our website, along with a methodology guide detailing how both Kaiko Exchange Scores and Kaiko Exchange Rating are derived. The ranking can also be licensed for use within commercial products.
Vitalik Buterin Proposes Zero-Knowledge Ethereum Virtual Machines
Vitalik Buterin, the co-founder of Ethereum, has suggested implementing zero-knowledge Ethereum Virtual Machines (zk-EVMs) on the Ethereum base layer to accelerate the verification process on the blockchain. Buterin's proposal seeks to solve "The Verge," a part of the Ethereum roadmap that aims to make verification at the base layer easier.To get more news about blockchain knowledge, you can visit wikifx.com official website.
In a post on March 31, Buterin explained that it is possible to integrate a zk-EVM on the base layer without compromising on decentralization and security. The technology enables Ethereum Virtual Machines to execute smart contracts on the blockchain with ZK proofs. Ethereum was developed with a "multi-client philosophy" to ensure decentralization at the protocol level. By integrating zk-EVMs at the Ethereum layer 1, it would be the third type of client, along with the consensus and execution clients.
Buterin considered the advantages and drawbacks of treating the layer 1 as a "clearinghouse" by pushing almost all activity to layer 2. He concluded that many layer 1-based apps would become "economically nonviable" and that small funds worth a few hundred dollars or less may get "stuck" in the event that gas fees grow too large.
Buterin prefers the zk-EVM approach because it wouldn't abandon the "multi-client" paradigm, and an open zk-EVM infrastructure would ensure that new clients could be developed, which would further decentralize Ethereum at the base layer. In his post, Buterin explained that zk-EVMs would need to be "open" in that different clients each have different zk-EVM implementations and each client waits for a proof that is compatible with its own implementation before accepting a block as valid.
The implementation of zk-EVMs at the Ethereum layer 1 could cause data inefficiency and latency issues, but Buterin believes these challenges would not be "too hard" to overcome.In conclusion, Buterin's proposal for zk-EVMs on the Ethereum base layer seeks to accelerate the verification process while maintaining decentralization and security. The integration of zk-EVMs at the Ethereum layer 1 would be the third type of client and ensure that new clients could be developed, further decentralizing Ethereum at the base layer. The proposal is not without its challenges, but Buterin believes that they can be overcome.
Coinbase squares off with Washington's top crypto skeptic
When Brian Armstrong and Fred Ehrsam launched Coinbase more than a decade ago, they made an unconventional choice for a startup in the libertarian-leaning cryptocurrency market: They would embrace, not reject, regulation.To get more news about Crypto currency market, you can visit wikifx.com official website.
In the five weeks since the Gary Gensler-led Securities and Exchange Commission warned that it was poised to bring charges against the company, Coinbase - the largest U.S. crypto exchange - has gone on the offensive.
Armstrong, the chief executive, has threatened to move Coinbase out of the U.S. The company brought aboard corporate America's go-to SEC challenger, former Labor Secretary Eugene Scalia, to lead a lawsuit against the agency filed on April 24. And, just days later, Coinbase took the rare step of publicly releasing its official rebuttal to the SEC, in which the company called itself "a well-resourced adversary."
"The reality is that the law today does not apply to vast swaths of the digital asset market," Coinbase Chief Legal Officer Paul Grewal said Thursday in an interview. "We don't relish the opportunity to be in court with an important regulator, the SEC. But we will stand up for the rule of law as it currently exists, not just for Coinbase but the entire industry."
Coinbase's blitz against the SEC offers a prelude to what could be the crypto market's biggest showdown yet. Over the last two years, the two have been locking horns over the exchange's operations and crypto regulation more broadly. Yet if the SEC brings charges as expected, the case would represent the biggest test to date of Gensler's tough stance toward the $1 trillion crypto market as well as a potential threat to Coinbase's business - and the crypto market's future in the U.S.Under Gensler, who was sworn in as chair just days after Coinbase went public two years ago, the SEC has been aggressively cracking down on the crypto market's gatekeepers. But the enforcement campaign took on new speed after Sam Bankman-Fried's FTX, the once-lionized crypto exchange, collapsed late last year.
Since then, the SEC has brought a range of crypto-related cases against everyone from celebrities like Lindsay Lohan to digital asset giants such as Gemini and Kraken. Its campaign has been part of a broader and relatively new skepticism toward crypto in Washington. Lawmakers have hit pause on some crypto legislative efforts, bank regulators have ratcheted up their warnings about the market and the Commodity Futures Trading Commission even recently went after Binance, the world's largest crypto exchange.
Coinbase has long been seen in crypto circles as a leader in regulatory compliance after acquiring an array of state and federal licenses in its early days. But the SEC's expected charges against the company signal that few are immune from Gensler's crackdown.
In the agency's so-called Wells notice to the company, the SEC indicated that it was preparing a "kitchen sink" of charges against Coinbase's businesses, said J.W. Verret, a law professor at George Mason University. That includes its staking service, wallet product and the exchange itself, which represents a pillar of Coinbase's business that generated about 74 percent of total revenue in 2022.
Gensler says much of the crypto market consists of tokens that are akin to stocks and bonds, so companies trading or listing them need to be registered with the agency - just as if they were the New York Stock Exchange or Charles Schwab.
"Crypto markets suffer from a lack of regulatory compliance," he said in a video posted online Thursday that did not mention Coinbase. "It's not a lack of regulatory clarity."
But Coinbase denies that it deals in securities. In its official response to the Wells notice, the company pointed to its "robust listing process" that screens tokens and rejects about 90 percent of assets reviewed.
Coinbase went further to say that the SEC's looming charges would be an "abrupt about-face" from when the agency signed off on the company's paperwork to go public in April 2021. The approval, Coinbase argued, allowed investors to infer that the SEC took no issue with its core business. The response was written by Steven Peikin, an attorney at Sullivan & Cromwell representing Coinbase who previously served as the SEC's co-head of enforcement.
Investing in Cryptocurrency
Cryptocurrencies have quickly become a hot investment that is gaining mainstream adoption. Markets for digital currencies such as Bitcoin (BTC -0.1%) were virtually unheard of in 2012, but it has since grown into a massive industry.To get more news about best crypto exchange, you can visit wikifx.com official website.
The cryptocurrency sector reached a peak market value of $3 trillion in fall 2021. The sudden surge in value and rapid evolution created immense wealth for early crypto investors. As a result, there is huge interest in finding and investing in the next cryptocurrency unicorn.
With more than 20,000 different cryptocurrencies on the market -- and the world having been pushed further into the digital realm by the COVID-19 pandemic -- investing in technologies linking the digital blockchain space with society could be even more lucrative than guessing which token will become the next Bitcoin or Ethereum (ETH -0.09%). And there is no shortage of innovative companies trying to bridge the gap between the two.
The original idea behind blockchain technology -- a digital ledger that automatically tracks transactions between parties and confirms ownership of a crypto asset -- was to create a borderless, peer-to-peer electronic cash payment system that's efficient and secure.
Investors can certainly purchase cryptos themselves, perhaps by buying small amounts of several different cryptocurrencies. But a better way to gain exposure to the sector is to invest in bigger and more established companies that benefit from the increased popularity of blockchain and crypto assets. The revenue that crypto service providers are deriving from blockchain tech has explosively grown over the past few years.
Companies that adopt blockchain technology, especially in finance, may gain a considerable edge over traditional competitors in processing payments. And brokers offering digital assets may attract more customers than exchanges offering traditional assets such as stocks and bonds.
However, the sector is subject to sharp market swings. Its peak value of $3 trillion slipped to less than $1 trillion in June 2022 as rising inflation drove many investors away from high-risk investments. This was not the crypto market's first gigantic plunge, and it probably won't be the last. Every investment is subject to risks, and you should only invest money you don't need in the short term. That guidance is even more important in the highly volatile crypto sector.
The Coinbase platform's success has been contingent on the increase in crypto prices, which in turn has led to millions of new users creating accounts. Coinbase earns a small transaction fee whenever someone buys or sells a cryptocurrency. But the company aspires to be more than just a place to trade. It also sponsors a debit card that allows consumers to spend from the balance in their digital wallet, and it's launched a cloud platform for companies using and storing digital currencies.
Coinbase offers two game-changing innovations. The first is bringing the practice of asset loans -- which were previously only available to affluent investors -- to the masses. Users can pledge their Bitcoin or other cryptocurrencies as collateral and receive a low-interest loan to cover expenses. Using crypto as collateral means investors don't have to sell their assets when emergencies arise, allowing their principal to continue compounding while they deal with matters at hand.
The second innovation is the rising adoption of Coinbase's blockchain analytics by governments and financial institutions. Because most blockchains operate on a public ledger, the company can harness and monitor the data for illicit transactions and wallet addresses.
Suppose hackers managed to break through an individual's computer and demand ransom in the form of Bitcoin to unlock the machine. In that case, Coinbase could then match the hacker's wallet address with millions of know-your-customer (KYC) data points stored on its platform. This could help law enforcement track down the flow of funds and apprehend the cybercriminals -- building greater trust in the crypto space.