DeFi is financial instruments in the form of blockchain-based services and applications. The main goal of decentralized finance is to become an alternative to the banking sector and replace traditional technologies of the current financial system with open-source protocols.

In the DeFi environment, one does not have to go through KYC to trade cryptocurrency, one does not have to prove one's solvency to take a loan, and one does not have to disclose one's identity for any transactions.

What is included in this concept?

Networks
Blockchain networks are the backbone of decentralized finance. Level 1 networks (Ethereum, BSC, Solana) are used to build the main projects, which will be discussed below. The second level networks fix the drawbacks of L1 networks.

Wallets
Cryptocurrencies are the entry point to DeFi. This is where crypto is stored and transfers are made.

Coins and tokens
Every project has its own "crypto". Networks have coins. Projects on these networks have tokens.

NFT
Where would one go without those expensive pictures? Yes, they're part of DeFi, too.

Dapps
Decentralized applications (Dapps) are blockchain-based applications. Such applications are based on smart contracts.

What else is in DeFi?

DEX (Decentralized exchange) is a decentralized platform that allows exchanging cryptocurrencies without an intermediary in the form of an exchange. It consists of a system of smart contracts.

DeFi Lending - protocols that provide the ability to take "credit" in one cryptocurrency against another without any intermediaries. A very convenient feature to get the cryptocurrency you need without selling the one you already have.

DAO - translated as Decentralized Autonomous Organization. A DAO is a specific form of organization in which coordination of activities between participants is performed without centralized management, but with the use of automatic algorithms and smart contracts.

Crosschain bridges are decentralized applications that allow the transfer of assets between different blockchains.

P2E - games, performing tasks in which you earn project tokens, which you can then sell.

Meta universes are virtual spaces where people can interact with each other. Often uses NFT technology to create unique user avatars.

In the following articles, we will examine each element in detail

I've already talked about blockchain technology in general terms. The average person encounters it only in the field of cryptocurrency and studies very little about the technology itself, focusing on the financial side. But blockchain is the foundation of crypto, so we will delve a little deeper into this concept...

Types of blockchains

Basically, blockchains are divided into private and public.

Private blockchains.
Private blockchains are blockchains in which the creation of blocks is centralized and all rights to conduct such transactions belong to a single organization. The "general public" can only read the information.

Such blockchains are mostly used by banks and companies with registries and accounting systems because of their controllability and predictability.

Private blockchains have a number of advantages over public blockchains:

1) Low cost of transactions because validation is performed by trusted and high-performance nodes instead of tens of thousands of user devices, as in the case of public networks.

2) A private blockchain can be configured in such a way that the number of transactions per second is much higher than that of public networks.

3) Simplified update process, due to centralized control over the blockchain.

Private blockchains have the potential to replace many of the centralized businesses that now exist. They could become the basis for blockchain innovation in services that use registries or financial accounting systems.

Public Blockchains.
These blockchains are familiar to anyone who has ever used cryptocurrency. They are used in Bitcoin, Ethereum, Solana and other popular networks.

Public or public blockchains can be read by any user, each of whom has the right to form transactions. Transactions are protected by consensus mechanisms such as Proof-of-Work (discussed in more detail below).

In addition, public blockchains have network effects. This is when the value of a project increases when it interacts with other projects on the blockchain. The first users of apps built on a public blockchain are often users of other apps on the same blockchain.

For example, a mobile wallet running on a public blockchain can add a feature for that app to interact with other distributed apps on the same blockchain, greatly expanding its user base.

Types of consensus mechanisms

More than 90% of the cryptocurrency market is based on three basic consensus mechanisms.

- Proof of Work (PoW)
- Proof of Stake (PoS)
- Delegated Proof of Stake (DPoS)

However, we will look at some of the other mechanisms as well.

Proof of Work (PoW)

The basic idea of this algorithm is to solve a complex random mathematical problem generated by a blockchain and produce a solution. The peculiarity of this algorithm is the complexity of solving the problem, but it can be easily double-checked. This mathematical puzzle requires a lot of computing power and thus the node that solves the puzzle gets to the next block before the others.

PoW tends to make attacking the network excessively expensive and requires high energy input.

The disadvantages of this mechanism are generally considered to be limited scalability and low throughput.

Proof of Stake (PoS)

This is probably the most common alternative to PoW. Even Ethereum plans to move from PoW to PoS consensus in the near future. In this type of consensus algorithm, instead of investing in expensive hardware to solve a complex puzzle, validators invest in network coins by blocking some of their coins as stakes (staking).

All validators then start checking the blocks, betting on the block that they think can be added to the chain. Based on the blocks added to the blockchain, all validators receive a reward proportional to their bets. Eventually, a validator is selected to generate a new block based on its economic share of the network.

The pros of this mechanism are considered to be the increased scalability at a basic level and the potential energy savings compared to PoW. The disadvantages include the risk of centralization, which in turn leads to reduced security.

Delegated Proof Of Stake (DPoS)

The DPoS mechanism is an evolution of PoS, but is essentially a different type of consensus algorithm that relies on voting systems. Instead of individual nodes being randomly selected to perform verification, token holders use their means to vote for some of the trusted nodes. They are responsible for checking transactions, maintaining the network.

DPoS can be compared to a representative democracy - participants vote for a trusted representative to protect the network on their behalf. Voters can replace delegates if they act against the interests of the majority of stakeholders.

The advantages of DPoS are high scalability and a more even distribution of coins between validators, and the disadvantages are insufficient security and a persistent tendency to centralize the network.

Proof of Elapsed Time (PoET)

PoET is widely used in many private and corporate blockchains, in particular Hyperledger. In this algorithm, every validator in the network gets a real chance to create its own block. All nodes do so by waiting a random amount of time and adding confirmation of their wait to the block.

The created blocks are sent to the network for review by the rest of the participants. The winner is the validator with the lowest timer value. There are additional checks in the algorithm to prevent nodes from always winning the election by generating the lowest timer value.

The pluses are high efficiency and low resource consumption, the minuses are low security and dependence on a third party developing the algorithm.

Proof of Authority (PoA)

PoA is a reputation-based consensus algorithm that uses the identity and reputation value of block validators. PoA is similar to PoS, except that validators put their reputation instead of coins. Trusted nodes/validators are chosen by network leaders, making PoA useful only for private blockchains. Used in VeChain Thor, Microsoft Azure and others.

Pros: high transaction speed, scalability, low network maintenance costs.

Cons: denial of decentralization, possible malicious behavior of network participants, which is almost impossible to prevent.

Proof of Capacity (PoC)

In the Proof of Capacity consensus, validators should invest their hard drive space instead of investing in expensive hardware or burning coins. The more means of validating hard drive space, the better chance they have of getting to mine the next block and get rewarded for the block.

PoC is much more energy efficient than PoW. PoC is used by Filecoin, Storj, Burstcoin projects. The obvious pluses of this approach are energy efficiency, the disadvantages are lack of security due to susceptibility to attacks.

There are also other consensus algorithms such as:

• Proof of Activity
• Proof of Weight
• Proof of Importance
• Proof of Participation
• Proof of History
• Leased Proof of Stake
• Proof of Burn
• Practical Byzantine Fault Tolerance

But their use at the moment can rather be attributed to special cases and innovations.

Forks

Fork is a change in the rules of the network by which a block in the blockchain is recognized as genuine, a kind of separation, hence the name - from the English fork, which means "fork"

There are two types of forks in the world of digital coins: softfork and hardfork.

Soft fork is a soft form of separation, in which users of the old version can interact with users of the new version. Softfork is more of a deep upgrade than a revolutionary change. After it is done, a new currency is unlikely to appear.

The hardfork involves introducing major changes to the blockchain that divide the chain into two separate chains that cannot communicate with each other.

Sometimes a hardforward can take place against the backdrop of serious disagreements among community members. This, for example, happened with the cryptocurrency Bitcoin Cash, which in November 2018 "split" into two branches

Also a fork is a borrowing of the open source code of one project to create a new one. For example, Binance Smart Chain is a fork of Ethereum. And all Ethereum forks, just like it, work on EVMs and support the same smart contract format, so one Dapp can be run on multiple EVM networks almost without any changes.

The Ethereum Virtual Machine (EVM) is a software platform that developers can use to create decentralized applications (DApps) on Ethereum and similar networks.

Blockchain applications

In addition to crypto, blockchain is used in many areas:

Banking
Blockchain makes all processes in the banking industry safer, more reliable and transparent. Money transfers, securities transaction settlements, KYC, and the routine work of bank offices - all these operations now take place with the implementation of this technology.

Blockchain can reduce banks' costs by up to 50%. This was announced back in 2017 by analysts at Morgan Stanley. According to them, blockchain could optimize infrastructure, drastically reduce costs and provide the necessary increase in bank profitability. Many banks, despite their inherent conservatism, would be dangerous to underestimate the potential of this technology.

IDs.
Such IDs are a translation of a person's personal data onto blockchain, creating his/her digital profile. There is a large list of public services that can be accessed via blockchain, and there are statistics from advanced blockchain countries (Estonia, some emirates of the UAE). The use of blockchain by an active citizen may become commonplace in the lifetime of the modern generation.

Both in Russia and in the West, states in recent decades have been actively looking for ways to optimize their administrative activities. A good solution for this would be to move all routine and archaic processes to blockchain.

Popular Exchanges

Binance

The world's largest platform in terms of trading volume, which offers quite low rates: the higher the volume of user transactions, the lower the commission. In addition, the platform provides discounts for using its own cryptocurrency BNB.

Pros:

- More than 80 fiat currencies.
- Very low commissions for trading
- There is a mobile app
- P2P service
- Its own NFT-marketplace
- Binance Launchpad, where initial coin and token offerings of new projects take place.
- Binance Academy - an educational platform in the field of cryptocurrencies
- A large number of giveaways and activities.
- In-house cryptocurrency stacking with a stable income percentage.
- Discounts and bonuses for owning a BNB coin.
- The ability to fund the exchange with Payeer and AdvCash without commission

Cons:

- Very limited functionality for accounts that have not passed the KYC procedure.

- The exchange listens to the laws of the countries. For example, recently the functionality for users from Russia with a balance of more than 10,000 euros was limited due to the sanctions from the European Union.

- Not every cryptocurrency can get on Binance. There are a lot of projects which are on other exchanges, but are not traded on this one.

FTX

A cryptocurrency exchange that specializes in trading derivatives and leveraged products. Founded in 2018 by former trader Sam Bankman-Fried.

Supports 9 fiat currencies and spot market trading in over 100 cryptocurrency pairs.

Pros:

- The internal currency is USD, pegged 1:1 to the dollar exchange rate. I.e. you do not have to keep your deposit in stabelcoins.
- A huge number of different trading directions. If you are a professional trader or are interested in this direction, this exchange is for you.
- It has its own FTT token that provides discounts and bonuses for owning it
- It has a mobile app

Cons:

- Complicated interface, for the beginner will be at first difficult to understand.

KuCoin

A cryptocurrency exchange for experienced traders. It offers some of the lowest prices on the market, and there are no account maintenance and storage fees for cryptocurrencies. According to KuCoin, the platform is used by one in four cryptocurrency owners in the world. The distinctive feature is access to less popular and new coins.

Pros:

- Large selection of cryptocurrencies, many of which are not available on other exchanges.
- No mandatory verification. You can trade anonymously.
- Low withdrawal fees
- Own KCS token, between holders of which is divided by half of income from exchange commissions

Cons:

- No support for fiat currencies
- No margin trading

Examples of Binance Account Creation

1. Go to the Binance homepage and click the "Register" button in the upper right corner.

2. Enter your email address and choose a strong password. If you prefer, you can register using your cell phone number. Enter your referral code if you have one.

3. Verify your account information by sending a code to your email address or cell phone number.

How to buy cryptocurrency on Binance
Before you can buy cryptocurrency on Binance, you need to pass Know Your Customer (KYC) verification. KYC helps verify that you are who you say you are.

Know Your Customer (KYC) is a process that banks and other financial institutions use to verify the identity of potential customers.

Its purpose is to prevent fraud, money laundering and other illegal activities, as well as the misuse of financial accounts.

You can go through the KYC of your account here - https://www.binance.com/en/my/settings/profile

After confirming your identity, you can start buying cryptocurrency in different ways.

1. Credit/debit card: the easiest option for new users.
Official guide - click

2. Transferring funds to fiat and spot wallets: transfer fiat currency from your bank account and use it on the exchange.
Official guide - click

3. Binance P2P: buy cryptocurrency directly from other users.
The official guide - click

How easy it is to trade cryptocurrency on Binance
If you're not used to the traditional trading interface, we recommend using the conversion feature. You can access it by hovering over the "Trade" button on the Binance homepage and selecting "Binance Convert".

The conversion feature allows you to select a cryptocurrency or fiat currency pair using a simple interface.

In the top field, select the coin you want to exchange and enter the amount. In the bottom field, select the target cryptocurrency or fiat currency. In our example, we will exchange BNB to BTC. After confirming your selection and clicking the "Preview" button, a transaction summary will appear.

Note: The default setting is "Market". This means that you are placing a market order. If you are satisfied with everything, confirm your order and the trade will take place. Commissions will also be included. If you want to create a limit order, select the "Limit" option on the left side of the screen.

A market order is an order to buy a cryptocurrency, which is placed for almost instant execution at the current market price.

A limit order is an order to buy or sell at a specified price that goes into the order book. The order will be executed when the market price reaches the limit price you specify (or the best price).

Limit orders can be used to buy or sell an asset at a lower or higher price than the current market price.

Spot Trading
Below the instruction will be shown on the example of a mobile application, so you can immediately start trading on the signals

To get to the spot trading menu, we need to select "markets"

After that we are presented with a menu for selecting an asset. I choose BTC/USDT

1. The panel at the top of the chart shows the cryptocurrency or fiat pair you are viewing, the current market price, and the change in price and trading volume over 24 hours. This example shows a pair that allows you to trade USDT for BTC and vice versa.

2. The graph shows the price ratio between the two assets.

Click on the "buy" button

The following page opens:

3. The "Order book" panel displays a detailed list of prices and volumes. Current sell orders are highlighted in red. Below the current buy orders are highlighted in green. The large figure in the center is the price of the last transaction.

4. In the "Spot" panel you can create orders for trading on the spot market.

Example of trading by signal

You get a signal to buy in a private club

Open the "markets" menu and in "search coin pairs" type BTS

As you can see, the coin has already grown. But let's assume that the price is now in the range 0.00940 - 0.00945.

For the entire purchase we allocate 4-6% of the deposit. For convenience, I will assume that our deposit equals $1000

We buy a coin for 2% of our deposit at the market price. That's $20.

And also put a limit order to buy at the price of 0.000600

1 - order type, in our case a limit order.
2 - price specified in the signal
3 - amount at which we buy a coin

It turns out that we have $40 involved in this purchase. If you have a small deposit, then on one purchase we allocate 6% instead of 4%.

In this case it will be necessary to buy on the market price for 30$ and to expose the limit order also for 30$. In total in one purchase 60$ will be involved

After a coin gives good growth, we sell it. To do this, we need to click on the "Sell" button

We close the deal in two stages. First we fix 50% of the position and then we close the remaining 50%. Thus we reduce the risks and almost guaranteed profit

Today we will talk about security. Specifically, how and where to store your assets, what you categorically cannot do, and what are the myths about crypto security.

Security of an exchange account

Let's start with tips about centralized exchange, because most of users start their acquaintance with crypto. We will consider everything using the example of the most popular exchange, Binance.

Create a complex password
Yes, the easiest tip. Everyone knows it, but not everyone uses it. Create a strong password with numbers, letters, and special characters. And most importantly, use it only once.

Put two-factor authentication (2FA)
One of the most important points. Here we can use 2FA via SMS and Google Authenticator.

Set anti-phishing code in the mailing list
Needed in order to ensure that you have not slipped any malicious link in the mail. Enter the code now each letter from the exchanger will come with this code.

That is, if you entered code "1234" and Binance sent you a letter without this very code - then it is a scammer.

Whitelisting your wallets
When this feature is enabled, your account will only be able to withdraw to whitelisted addresses.

Monitor your account activity
Periodically check the activity of your account. If you notice activity when you don't use the exchange - change passwords and emails.

Do NOT keep all of your funds in an exchange
All of the funds you have in the exchange are not in fact your funds. It is only a record in the exchange database, and it is not much different from a regular bank account. They become yours only when you withdraw them to your cryptocurrency wallet. So, if you decided to invest a large amount of money for the long term, immediately after registering with Binance, create a wallet, where you can deposit everything you bought on the exchange.

What are the risks of holding assets in an exchange:

- Exchange may block all users of a particular region due to legal pressure

- An exchange can be hacked and all the assets stored there can be withdrawn

- The exchange may turn out to be unscrupulous and screw all of its users, taking all the money invested in it

Wallet security

Do not give your seed phrase to anyone.
As soon as you start to create your cryptocurrency wallet - a seed phrase consisting of 12-24 will pop up. Be sure to write it down.

Your seed phrase is the key to your wallet. If someone recognizes it, they will get access to your money. That's why it's highly discouraged to write down your seed phrase in notes on your phone or in your favorite Telegram messages. Also never share your phrase on websites, in chat rooms, don't even give it to a friend.

Use a piece of paper or a password manager and write your phrase there. If you are still worried about the security of the phrase, you can divide it into several parts and save it in different places.

Double-check where you transfer crypto
Double-check the address where you transfer funds several times. Any blockchain has built-in means to check addresses for correctness, and if you make a mistake somewhere, your transaction most likely won't happen. But it is better to double-check everything yourself.

Even when withdrawing funds to your wallet, you may notice such a column as "MEMO".

MEMO (TAG/MESSAGE/PAYMENT ID) is needed only when you transfer funds to exchanger!

It is not profitable for big exchangers to make a pile of addresses for each new user, so each user can get MEMO in addition to wallet address.

If we are talking about personal wallets - then everything is simple. Forget about MEMO, the entire wallet is yours, just skip this input field.

Test the new thing
If you're making cryptocurrency transactions for the first time in your life, there are a lot of doubts about whether you're doing it right, whether your money will disappear now, and all that kind of stuff.

The most proven way to get rid of doubts is to check everything on a small amount first. Nothing bad can happen if you pay $1 more for commissions, and that's better than risking all your money and making a mistake.

Also, there is a huge number of testnets in crypto, where you can dabble with all the possible transactions without the risk of losing your investment.

Do NOT store "wrapped" coins
A wrapped coin becomes wrapped when you bridge it from the native blockchain to the foreign blockchain. When this happens, the coins are blocked by the bridge on the native blockchain. And on the blockchain where you transferred it, you get a similar number of "wrapped" coins, which are tokens.

For example, we decided to bridge SOL coins from the Solana network to the Ethereum blockchain. Now your native SOL is blocked on the bridge you used, and your Ethereum wallet received SOL wrapped coins.

What is the problem with such coins? Centralization. If the bridge is hacked and all the funds are stolen, your wrapped coins will turn into bills because their collateral in the form of blocked coins in the bridge will disappear.

I decided to look at the bear market and the down trend from a completely different angle.

I looked at the current situation from several angles:

• I studied the current forecasts of analysts.
• I figured out what foundations do at a time like this.
• Dipped into history and inspected what projects were launched in similar market cycles.

This study was prompted by a series of seemingly contradictory events and news, to cite just a few examples:

And in contrast to that:

And April 2022 was a record month for crypto investment, raising $6.7 billion dollars.

Given that May 2022 at a minimum estimate has already invested $4.3 billion, crypto in the 2nd quarter of 2022 has already attracted more than $11 billion of investment, which has already beaten the previous record, although not yet over the second month of the quarter. Bearish?

For the sake of interest, I decided to overlay the bitcoin price chart (it mirrors the usual one) on the chart of monthly investments in crypto. And we literally see that since the fall, the bitcoin price has doubled, while the amount of investment has only increased.

And this polarity has become the leitmotif of our research.

*spoiler* Unexpectedly, but not for us, answer the question, "Why is now the best time to invest in crypto?"

Buckle up, it will be interesting!

Is the crypt dead? Long live the crypt!

Let's not go far, in one of the best traditions of my channel, to give a few news and facts to take a different look at the current state of the market.
Let's take a deep breath:

Exhale! Although we could go on for a long time.

At once I will give a few illustrations to complete some of the points above:

As we can see, these theses alone give us a hint that we should look at the present situation a little differently.

We are overcoming fear and discovering new opportunities. The big players continue to invest and even increase their positions.

There is much less competition among the players in the 1.5 and below range, which opens up the possibility for the new and the most daring.

This article could have ended there, but we will take a broader look at the situation.

I will introduce you to important players and give their opinions and analysis.

World Context.

The first country to officially adopt bitcoin is El Salvador.

There are predictions that five more countries around the world with growing economies will recognize cryptocurrency as a means of payment this year.

Brazil, in 2023, plans to use BTC to pay taxes.

Fairfax County, Virginia, U.S. is thinking about putting pension fund money in two crypto funds.

Russia is talking about legalizing cryptocurrencies at the state level.

CBDC (Central Bank Digital Currency) - The concept of a state-owned digital currency is being actively developed. China is actively succeeding in this. The Central Bank of Canada and MIT will collaborate on CBDC research. Swift will test transfers at CBDC. And Ripple has become part of the digital euro association.

Ukraine has signed a bill on virtual assets.

Global brands are embracing crypto payments.

A bit of nostalgia:

Facebook has officially changed its name to "Meta" as it seeks to become a "meta-universe company.

Nike has filed seven trademark applications, preparing to enter the metaciverse.

Tesla and Elon Musk are stirring up the market to the tune of the dog waltz. The company is now one of the top 5 "open" $BTC holders.

Epic Games, the parents of Fortnite, are ready to create a meta-universe. They formalized their intentions by announcing a $1 billion funding round to expand growth opportunities to create a meta-universe.

Although Nvidia is not building its own metaworld directly, it will be a key player. Omniverse Enterprise was announced in 2021, where creators can work together on 3D modeling, design and simulation. Omniverse combines 3D graphics with artificial intelligence and supercomputers, laying the groundwork for a meta-universe.

Microsoft aims to create a work-oriented meta-universe that connects its hugely popular offerings in a digital environment called Mesh.

Apple could be an unexpected dark horse in the race to the metaconsciousness. The company is currently working on cutting-edge virtual reality hardware that could revolutionize it.

Morgan Stanley has gone so far as to say that the adoption of the meta-virtual universe in the mass market depends on Apple, just like the smartphone and tablet markets before it. The company is also building a position in crypto.

And this is only a small part of what can be highlighted lately.

Sequoia Capital is a venture capital fund that originated in the 1970s. The most significant investments of the last half century: Google, Apple, Electronic Arts, Oracle, NVIDIA, Youtube, Instagram, WhatsApp, Reddit, ZOOM.

What do they do in times like these?

They opened a half-billion-dollar crypto-fund.

Supported Ilon Musk's acquisition of Twitter. Now you can put your NFT avatar on your profile. Coincidence?

In dark times, Sequoia projects are still growing.

Babel Finance (a crypto-financial services firm) boasts of reaching a new valuation of $2 billion.

Ethereum scaling firm StarkWare quadrupled its valuation to $8 billion amid a bear market.

Contrary to the current state of affairs, Sequoia Capital, points out the opportunities this situation presents to us.

Emphasizes that we should be more selective in our investments now, but we definitely should not miss these opportunities.

Cites a quote from the famous Formula 1 driver Ayrton Senna: "You can't outrun 15 cars in sunny weather ... but you can do it when it's raining.

The company is not shy about sticking to this thought.

Tier-1 funds almost always continue to only ramp up during prolonged bear cycles.

Given the capital, Sequoia can afford a mistake or two due to bad investments, but do you really think they haven't thought about whether it's worth it to put money in during such times? I suggest re-reading our article again.

The best investments are made at the bottom. This axiom is as old as the world, but it's no less relevant.

Hundreds of millions of dollars invested in crypto from Sequoia Cap alone for the bearish May of 2022 inspire peace of mind that a bright future is just around the corner.

A16Z Andreessen Horowitz

Direct quote from the announcement. Let's go with trumps:

Andreessen Horowitz raises $4.5 billion crypto fund to take advantage of bargains in a falling market.

a16z became very successful when it invested in big companies like Facebook, Pinterest, GitHub, Instagram, Skype, Coinbase. etc.

Chris Dixon, a16z's general partner, is at the top of Forbes' "Midas List," which features the world's top venture capitalists. The investor's name and the main company that brought him the title and enormous profits is prominently displayed on the list. By the way, it's Coinbase.

Despite the rapid development of the crypto industry, there is one "but". Most venture capital funds are based in America and this centralizes the industry, despite its values.

Due to current events, funds have started to diversify their portfolios by entering new markets. For example, markets in India and Africa.

Interestingly, funds with very meaningful portfolios led the rounds, which shows the interest of big players to explore new markets and work at such times.

One of the big investment rounds was the $15 million Series A fundraiser for the African cryptocurrency exchange Yellow Card.

Funds have taken up this vector, entering into those projects that help scale and spread the mass-adoption effect.

For example, Chipper Cash, an African company that deals with cross-border payments. They raised a $150 million Series C round a couple of months ago, led by FTX.

The guys are not standing by and investing in projects in the Africa segment:

Nestcoin, which aims to create an educational media resource for African content, and Jambo, which plans to give Africans access to financial tools via blockchain.

Many investors are positive about Jambo, like Santiago R Santos, investor and former ParaFi partner: "What WeChat did in China, Jambo will do in Africa. We are happy to support this A+ team that will become a Web3 super app on the continent."

To summarize this point, at the moment, funds do not want to stop and develop the crypto industry, diversifying their investments and thus making crypto more resilient to world events.

Pantera Capital

Pantera Capital, launched in 2003, became the first cryptocurrency fund in the U.S. in 2013, the company's return was 10,000%.

Its venture capital arm has invested in major players in the blockchain ecosystem, such as Coinbase and Wyre.

Pantera has been a RIA (registered investment advisers) for many years, which allows it to circumvent the rules limiting cryptocurrency investments for venture capital firms to 20% of the fund.

Let's move on to a surprise guest on our program, which brings us to the logical conclusion of the fund reviews.

Grayscale is the #1 Holder of $BTC.

The largest BTC-ETF fund, for investors from the U.S. and Europe. It owns more than 630,000 $BTC, just think about it!

BTC-ETF - roughly speaking, this is an opportunity for clients to invest and trade bitcoin, without actually owning it. This is important, because on traditional exchanges we can't get the $BTC we are used to.

That's more than 3% of the entire market. For a long time, they were the only fund that had a legal basis for trading crypto, but that has changed in recent years.

Competition is the engine of progress, which is why Grayscale is honing its skills in other areas, such as: Market analytics.

In the study they raise the topic that cryptocurrencies should become (and already have become) an integral part of today's portfolio of investors.

Here are the main theses:

Cryptoassets are becoming a key component of today's portfolio, offering investors a new category that extends the spectrum of risk and return beyond traditional alternatives such as real estate or private equity.

The number of users in the cryptocurrency industry is growing at a rate that roughly matches the rate of development of the Internet in 1999.

The cryptocurrency market is showing strong growth, but is at an earlier stage of its market cycle than the Internet was in the mid-1990s.

Not taking risks now is the biggest risk.

Modern portfolio theory is based on the principle that a well-diversified portfolio yields a higher return on risk than if you invest in assets individually. Combining the classic portfolio ratio of 60/40 Shares & Bonds with 1%, 3% and 5% crypto portfolios, gives a significantly increased degree of profit.

The highest investment performance, in terms of profit to risk ratio, is achieved when crypto occupies 40% of the portfolio.

Cryptocurrencies are expected to be the most profitable assets for the next two decades.

Head is boiling, isn't it? And here is the condensed conclusion that Grayscale offers:

Cryptocurrencies will remain, and they have the opportunity to continue to have a positive impact on the market.

Web 3 is still in its early stages, but is already experiencing rapid growth and correlates with the development of the Internet in the 1990s.

As the most profitable asset class in eight of the past 10 years, cryptocurrencies have protected against inflation.

They expand the potential for risk and return.

Crypto-assets are becoming a key component of today's portfolio.

Thus, investors will find great value and some companies will create long-term success in this space.

Dessert

And for the good stuff, I compiled the top projects that came out exactly in the "bad market", these projects defined the field, and their investors got fabulously rich.

Polygon - was created by an Indian team in October 2017, with the aim of reducing commissions and increasing speed on the Ether network. The growth of the project (1000x on ATH for early investors) made the founders the first billionaires in India.

Solana - launched in March 2020. The team worked hard, eventually the value of the token made almost 500x from $0.50 per unit in March 2020. And the price to funds was a fabulous $0.04.

Chainlink - yes, yes, the largest oracle launched in 2017.

Kusama - was released at $1.71 in December 2019. ATH $621.71, which is $363x if you look at December 2020 $0.87 $714x.

FTX $FTT- The FTX native token was launched in 2019. ATH $84.18 at the time the low was $1.15 73x, pretty good too. Does Sam know his stuff?

Uniswap, MakerDAO, Opensea, Ledger, Ethereum were founded during the bear markets of 2014 and 2018.

So, stop, are the most profitable investments made mostly in a "bad" market?

Now let's remember the endless number of low quality projects that were literally stampeded on the bullruns. "Very significant" NFT projects, "deepest" metaverse, "sphere-changing" play-to-earn.

Yep, and almost all of the projects that defined these trends originated during the bear market: NFT and CryptoPunks, Play-to-Earn and Axie Infinity, Metaverse and SandBoxGame and Decentraland.

Convincing, isn't it?

Of course, there are also crucial projects that originated in the Bullruns and managed to expose these ideas to the best degree, as BAYC and their Metaverse did.

But are they possible without CryptoPunks, and Decentraland, SandBoxGame, Opensea and Ethereum?

It's an open question.

Conclusion

The world is gradually adapting and opening up to the field of cryptocurrencies. Including countries, legislation, commodity-money relations. Penetrating into all spheres of life.

The idea of decentralization is scaling up: it is no secret that a significant part of crypto-projects are based in the United States.

Large funds are diversifying this aspect by investing resources in other regions. The adoption of crypto in Africa and India, will increase the decentralization of processes. In other words, the sphere will be less and less influenced by the U.S. jurisdiction and economy.

For some, it's a time of fear, and for others, the best opportunities.

And the statistics bear this out. Despite the market, we are at the peak of investment in the field. And it's no wonder, experience confirms that it's in these times that the most influential and profitable projects are born.

Hard times are just the beginning of a new stage. Where new opportunities open up for investment and/or to build something great.

It is active actions in such times that will thank you with experience and insight, which, under favorable market conditions, allow you to accelerate from almost any amount and competently dispose of profits.

With this research we want to show that favorable conditions will definitely happen, and if you look closely, they have already come.

My journey to Hell began with a message on Telegram. On the evening of June 3, I received an email. I was invited to Ijen volcano. It is located on the neighboring island of Java, a total of 6-7 hours drive there. The thirst for adventure was stronger than impatience, so without hesitation I agreed.

Our traveling companions were my respects!

The team of arbtitrators, led by Lera, were arbitrating traffic across Latin America. They're fierce, rich travelers. Interested in crypto on a hobby level. Moved in the digital business. While driving, they were discussing the next country to go to - Argentina or the Czech Republic.

Also with us was Katya, an esoteric girl who practices yoga and meditation. In their religion, volcanoes are special places of power. Especially if at the bottom of the crater splashing sulfuric acid, which at times sprays in waves and buried beneath them gaping workers.

And me and my girlfriend.

Bali is the kind of island that imbues you with relaxation and enjoyment of life. When we went to the neighboring island, we expected about the same. But a little harsher.

And this starting attitude threw us off our compass in the aftermath...

At 1:00 am we arrived at the start camp. It was a small square with benches where we could drink tea and eat cookies. The owners are locals, Muslims. Poor, but very kind and helpful.

The men gather here at night, drink tea, get dressed and get ready for the climb. The way up is not easy - about 3 km at an angle of 30 degrees with rare plateaus for a breather.

It's 2:00 in the morning. The gong strikes, the men get up, the wives hug them and we move forward.

Tourists who came from the neighboring towns of Java Island move with us. There are practically no Europeans. A white man in his right mind would not come here for pleasure.

So far it has been an interesting experience for us. To see how others work. To see their working conditions and compare them to what we have.

In the beginning we met cab drivers, who for $60 are ready to take the gentleman to the top of the volcano.

The affluent Indonesians quickly took over the carts and our column moved steadily upward.

The first 500 meters were relatively easy - an incline of 10 degrees. It was hard, but bearable. But then ULTRA_HARD began.

The incline increased. After 200 meters we came across the first group of hikers who were struggling with their shortness of breath, drinking water and gathering their spirits. After another 600 meters, the Indonesians were spitting out their lungs and begging the sky for a second breath.

It wasn't easy for us either. At the camp I rented a Tajik tiktok-shafler jacket, which was heavy and very warm

An hour later, we were feeling the lift. My legs were shaking, my ass was falling off. My head was dizzy, my lungs were clenching from lack of air, and sweat was pouring down like a hail. The guide reassured us that we were already halfway there. But these words only made it harder.

Somewhere in my mind's fog, a thought flashed through my mind that this was part of someone's daily work. It was the easiest part. Willy-nilly, I began to project this onto myself. I felt a little ashamed. It seemed that my problems were not worth a damn compared to theirs. That the apathy that occasionally overtook me was not worthy of attention. The grueling slave labor was what was really hard.

Thank God that my reasoning has allowed me to take my mind off the heavy lifting. Now I'm writing this and I'm thinking, maybe the workers are even philosophers? What do they think about when they go upstairs? What thoughts go through their heads? In what direction do they think?

So imperceptibly, but painfully, two hours flew by. When we arrived at the top, I FEELED the crater. It was in darkness, so I couldn't imagine the scale.

It smelled like sulfur. So far, unobtrusively - the workers were with us and had not yet started work.

Our guide (a miner who volunteered to be our tour guide) gave us respirators. He told us that they themselves walk around without masks, but that all tourists should wear them.

The moment of descent began. We walked down the steep cliff, lighting the way with flashlights. There was a chasm below us and an acid lake below. If you stumbled, you would first break your bones on the rocks and then dissolve into sulfuric acid. There was no right to make a mistake.

Look again at this photo. A thin path and a GAP below. The lights were lanterns and some moonlight, which was breaking through the mouth of the volcano.

We walked very carefully, checking our every step. Workers almost running between us - the job was not waiting! We had work to do. The guide explained that they were experienced, so we should not worry about them.

Few people will go there in the daytime. Many will forget how to breathe and everyone will be dizzy from the adrenaline produced by the sight of the abyss.

We made it down. At the bottom there was an infernal cauldron of toxic gas waiting for us.

The blue glow is the burning sulfur gas. It produces fumes that burn the eyes and throat. Many workers cough heavily because of scorched lungs. Their lives are shortened by 20-40 years.

Yet the profession is considered elite and respected. The pay by the standards of Indonesia is enormous! As much as $5 for lowering and lifting 90 kilograms of sulfur. Two mined sulfur - got $ 10. That takes all day.

There is a lake of sulfur and hydrochloric acid a couple of meters away. On the shore, workers collect sulfur, put it in baskets, breathe the fumes.

The way up is a separate song.

You climb the same small paths on the steep cliff. The workers have already ignited a spring that blows stinky winds.

We were lucky - a cloud of sulfuric fumes lay exactly on our ascent path. My eyes stung and my throat hurt even through my respirator. Sweat poured down in hail. My strength was running out. My lungs cramp up; I need air. There's nowhere to get it, no air. You are in a sulfur cloud.

After 50 minutes of hell, we made it to the top.

The workers were climbing without respirators. They had two baskets with 70-90 kilograms of sulfur on them. For one climb up the volcano, going down into the crater, extracting the sulfur, climbing out of the crater, and transporting down, the worker gets $5.

It struck me that these people continue to be cheerful and kind. They don't lose heart, they do their work with pride. You don't hear any whining from them.

This trip particularly emphasized to me the idea that we create our own reality. Some people whine endlessly, lament their fate, and blame others for everything. They sit in a warm office. Eating delicious food. They have the Internet at their fingertips, where there are endless possibilities.

Others eat rice and some vegetables/algae 3 times a day. To avoid eating bland, they add spices. They work in the mouth of a volcano in inhumane conditions. They enjoy life in every aspect of it. Proud of their work. Even this.

Blockchain is the backbone of any cryptocurrency, and anyone who wants to understand the crypto world will find it very helpful to know how it works from the inside.

Ready? Let's go!

Annotation.

Why is humanity always drawn to change? Why can't we sit still? Because there are problems to be solved.

If a technology is created, it means there is a problem that it solves. But what does blockchain technology solve?

Let's move away from technology a bit and move on to people. What is the problem with people?

People's problem is trust in each other.

Throughout our history, only people we know well enough to trust each other. But we have always distrusted strangers.

To solve the problem of trusting strangers, people invented things like laws, documents, police, banks, signatures, and many other things that somehow regulated the sphere of trust.

However, all of these things are heavy-handed and unreliable. Laws change, documents are forged, police are bribed, banks exceed their authority. On top of that, it costs enormous amounts of money to maintain it all.

So what do you do when you can't trust those who are supposed to be trustworthy?

Trust a disinterested party: the program. A cold and calculating machine that executes specific instructions.

That's what blockchain was invented for.

What is blockchain?

Blockchain is a computer you can trust.

It is a database, which is a continuous chain of data fragments - blocks.

The blocks contain information about their number, their hash sum, and the hash sum of another block. Changing any information in a block will change its hash sum.

Since each block contains data about the previous block, to change any block in the blockchain, it is necessary to change all subsequent blocks as well.

If there is already a continuation after the block to be modified, it can be a very time consuming process. The point is that usually copies of blockchains are stored on many different computers independently and each device must go through complex calculations to change the hash sums of the blocks.

Bitcoin is just one of the first implementations of blockchain technology, which has many other applications, from the banking sector to independent voting.

Why do we need blockchain?

As written above, blockchain has many applications.

But the main point of blockchain is decentralization. All its users have the same rights in the network. There is no need for any controlling party, because the blockchain itself takes care of all the problems (e.g. the problem of double spending).

Thus, in finance, for example, blockchain can replace a modern remittance system because it does not require a bank or other organization to control transactions.

Blockchain problems

Blockchain has a number of specific problems that make it difficult to use:

1) Constant growth in the size of blockchain files. The larger the blockchain, the more labor-intensive it is and the more difficult it is to store

2) The limitations of blockchain speed and performance. Right now, most are severely inferior in speed to regular bank transfers.

It is to solve these problems that new types of blockchain are being developed, including cryptocurrencies.

At the same time, there are a number of features that no blockchain system can do without:

1) Data is stored in a blockchain structure in which each block is linked to the previous block. Changing information in a block is impossible without making changes in all subsequent blocks.

2) Participants interact with each other in a P2P format.

3) A consensus mechanism is established.

Conclusion

Blockchain is an extremely useful technology with its own pros and cons.

It is still evolving and improving. Many projects are creating their own forms of blockchain that solve the problems this technology has.

The world is changing, and the day when blockchain will be used everywhere is not far off. It is only a matter of time.

What is it, what are the advertisements shouted about on every corner, what do bloggers and celebrities create? Just pictures worth millions or something more?

Let's get this straight.

What is NFT.
NFT is a non-interchangeable and inimitable token.

Unlike interchangeable tokens (like TWT, DOGE or APE), each NFT token is unique and often has some properties that distinguish it from others like it.

An NFT is simply a smart contract in a blockchain. Each token usually comes with a media file (image, audio, video) or a link to it.

History of the NFT.

Many didn't hear about NFTs until after the 2020 hype. But their story is a bit longer.

The first NFT project appeared in 2015, 3 months after the launch of the main Ethereum blockchain. This project was called Etheria and was tiles of virtual earth with the price of each tile hard-coded to 1 ETH.

In 2017, smart contracts appeared in Ethereum, and the company introduced the concept of NFT. And from that moment the main haip on NFT went and such famous projects as CryptoKitties, CryptoPunks, Decentraland, etc. started to appear.

Types of NFTs

In terms of how media files are stored, NFTs are divided into those that store them on a blockchain (CryptoPunks, PixelMap) and those that store only a link to the resource where the image is stored.

Though the first way is more reliable, but it is not possible to upload too big media file to Ethereum blockchain and similar ones, because commissions for any action with such NFT will be very expensive. For this reason, most projects use the second method. However, if the resource where the image or video is stored disappears, you are just left with an empty (still unique) token.

There are also NFTs of different standards that have their own features: ERC721 and ERC1155.

NFT applications.

Digital Art.
Many NFT collections are pieces of digital procedural art, which are random combinations of multiple image elements. These are the collections you most often hear about when they talk about "a picture worth millions". Such collections are CryptoPunks, Bored Apes Yaht Club, Moonbirds, etc.

Games
Using NFT as in-game items, allows you to replace the usual marketplaces like Steam. By doing so, you will truly own your weapon skin or beautiful cape in the game. Examples of such games are Sandbox, Decentraland, Mobox, and Gods Unchained.

Other uses
NFT can be used as proof of the original item. For example, Nike has patented CryptoKicks, which will use NFT to authenticate physical sneakers and provide a virtual version of the shoe to the customer.

NFTs may also be of interest to sports fans. For example, the NBATopShot project gives you the opportunity to redeem NFTs with the best moments from NBA games.

NFTs are also beginning to be used as PFPs(Profie Pictures) or VIDs(Virtual Identities), i.e. NFT avatars or proof of one's identity (and this, mind you, in an anonymous blockchain environment). A prime example of PFP is the recent introduction of NFT avatars in Twitter. And the representative of VIDs projects is AnataNFT, where you can put a 2D anime girl on camera instead of yourself, and she will repeat your movements and facial expressions.

Conclusion
So you have been introduced to such a thing as NFTs. The way we see it now is only an intermediate stage of development. There will be new blockchains, protocols, and applications for this technology. And now we have a unique opportunity to observe it all.

Decentralization is the process of redistributing, dispersing functions, forces, power, people, or things from a central location or governing body.

Stablecoin is a blockchain token whose exchange rate is pegged to a stable currency such as USD, EUR, etc. at a ratio of 1:1.

Introduction

Greetings, dear reader of the May Club channel! In this article I would like to raise a particularly relevant topic of decentralization of blockchain projects and security of your own funds.

I'll start by attaching some news and tell you how to relate to it:

DEX PancakeSwap will block users from ten jurisdictions.

OpenSea and Metamask reported readiness to block users from sanctioned jurisdictions.

Animoca Brands will stop serving Russian users.

USDC issuer will block fiat payments from Russia.

Tether blocked an address with crypto-assets worth more than $1 million dollars.

It is no secret that crypto is associated with decentralization, security and anonymity, but this is only a primary and mistaken impression.

Blockchain technology is just a tool that can be used as variably as your imagination allows.

There are open and closed blockchains. Blockchains that can be influenced by outsiders or be completely independent. Anonymity is not always necessary, nor is complete decentralization necessary.

Blockchain is used in logistics, in voting, in games, in financial systems, in data processing.

And it is worth understanding that each direction uses its own unique functionality: anonymity is not particularly needed in the logistics of wine, and "decentralization" in working with data.

Let's understand what decentralization means.

Blockchain is decentralized because no one can externally affect its operation and rewrite previous transactions, or somehow tamper with them.

But this does not mean that all projects that only use blockchain technology follow (they do not even have to) the principles of decentralization. The simplest but offensive example is NFTs created on the API from Opensea.

In simple words, NFT does not contain an image, but a link to that image and its adjacent data (e.g., rarity). That is, if the service containing this data goes down, YOUR NFT will not be displayed on Opensea. And these services are not that decentralized.

Decentralization and Stablecoins

A more pressing example: blocking the ability to move your own tokens. How is this possible in a decentralized system?

It's simple:

Although the interaction is built on smart contracts in the "correctness and stability" of which you cannot interfere, you can create conditions in advance in which you can do something specific.

When farming on Pancakeswap, the developers can change the reward per block for specific pools depending on the situation and demand. (In the screenshot Multiplier 40, they can do 140, 1, e.t.c.) But they can't interfere with the process itself, for example, through the same contract to charge someone more than what they intended.

On a similar principle, the contracts of a number of steblecoins: $USDT, $USDC, $BUSD, $FUSD, and other "centralized" steblecoins have a similar function to Punkie's change block reward, the blacklist function, which allows a particular address to prohibit interaction with a steble contract, i.e. the ability to move and receive it.

And precisely because of the blacklist function, these tokens cannot be considered decentralized. By storing funds in these tokens, there will always be a risk of losing access to them.

Maybe the companies behind these tokens wanted to be decentralized, but the format of their device contradicts that, and here's why.

What to use and what not to use and why?

Centralized = scary and risky

Decentralized = not so scary, more secure

What's this all about?

There are projects and products in crypto where decentralization makes sense in the first place. There are also projects where decentralization is only indirect because of the link to blockchain.

And to realize this, it is worthwhile to familiarize yourself with the principle of how the project works.

The same Opensea went through the Silicon Valley startup gas pedal YCombinator. The gas pedal helps projects create a quality and scalable product, shares experience and connections, and helps attract investors. And it's visible:
Opensea has created a commercially successful product, but it doesn't really follow the crypto thesis of community orientation and decentralization. The company keeps all the money from commissions. And when the recently engaged CFO announced the issuance of shares instead of tokens, the company was heckled and faced a huge FUD.

In other words, Opensea is an old format company, like most of today's top capitalization startups in the world, they do not bring crypto value to their own community, and at the same time they are very dependent on the world environment. That is, you can use them, but the company can limit your access, take away your images, and you as a user get nothing, from the experience of using it.

The opposite example of LooksRare - the project, at launch, rewarded active users of marketplaces with airdrop. The project has a prescribed tokenomics, a significant part of which is rewarding users. The commission per sale is lower. On Opensea - 2.5% on Looksrare - 2%, and it goes to rewarding the same users who steak $LOOKS.

The team of this project is more of a support staff, which is interested in the development of the product, as the salary is received in tokens.

A real example of this concept:

If a crypto cab service was launched, early users and drivers would get AIRDROP or a special membership for helping the project grow and develop in the early stages.

The users and drivers of the same UBER received nothing.

By preferring cryptocurrency projects, not only do you become a valuable member of the community and receive rewards for doing so, you thereby promote and reinforce the value and importance of the idea of cryptocurrencies in decentralization. <з

Funds are SAFU

A lot of FUD has to do with the possible blocking of Metamask.

I still understand the fear of blocking from the exchanges, it is quite logical: the funds on the exchange, - the funds of the exchange, not yours. So if you hold anything at all, I give the obvious advice - withdraw it.

Back to Metamask and other wallet blockers.

What is a wallet in simple terms:

It stores your private key, with which it provides you with an interface. In other words, it's just a shell. It cannot block access to your funds. But it can block access to the interface.

What to do in this situation? Just choose another one.

You're not going to stay in an institution that refused to serve you, are you?

Summary
The purpose of this article is to rethink decentralization, not everything in crypto lends itself to its principles. But you can support those principles by using projects based on them, by reading authors who popularize them.

Evaluate projects for initial centralization, look at the tokenomics, the Whitepaper, the idea, and the community.

Let us begin, perhaps, with a definition:

Altcoin is an "alternative coin. Alternative to Bitcoin. Why relative to Bitcoin? Because Bitcoin is the world's first cryptocurrency, in every sense.

There are thousands of types of altcoins, but why so many?

Bitcoin is not perfect and has some problems. The technology behind some altcoins aims to solve them, while others are just empty shells created for price speculation.

Since we are talking about altcoins, we should immediately clarify and distinguish between the concept of "token" and "coin.

There is "blockchain" technology, thanks to which you are now reading this article. Bitcoin appears with its not perfect blockchain protocol. Then, in an attempt to improve this technology, other protocols began to appear, with their own coins: Ethereum (ETH), Ripple (XRP), Solana (SOL), etc.

And now, tokens based on off-the-shelf blockchains are entering the scene. There are tons of them, and each has its own function.

Next, we'll look at the use of some altcoins

Application scenarios

Breakthrough Technology.
In its time, the Ethereum blockchain, which has the first ETH altcoin in terms of capitalization, has greatly expanded the functionality of cryptocurrencies with smart contracts. New blockchains are constantly appearing, bringing their ideas to the crypto market.

Ecosystem
Another example is the BNB coin, which is widely used in the entire CEX ecosystem of the Binance exchange. For example, if you keep an N number of coins on the balance of the exchange, you get discounts on commissions when trading, or you can use them to participate in Launchpad's.

Or, for example, a CAKE token from PancakeSwap's DEX exchange is used to reward members of its ecosystem.

Voting
Also, many altcoins allow their holders to directly influence the development of the project by voting for changes in the project. The network with such a way of control is Cosmos with its ATOM coin.

Stablecoin
Stablecoin USDT, which is tied to the exchange rate of the dollar, serves as a kind of "safe" asset, insured against the rapid fluctuations of the crypto market.

Speculation
I am sure you heard more than once about SHIB shitcoin when it tripled in value in just a few days. The price of such assets is driven only by market manipulation, because there is no real value behind them.

Games
There are many games where players are paid project tokens for various actions, thus giving everyone an opportunity to earn money. For example, such is the GMT token, which is used in the game STEPN

These are just some of the uses of altcoins. There are many more uses for altcoins today, and many more to come.

Conclusion

Altcoins are everything that is not Bitcoin. And this "everything" has an amazing variety of functionality and applications!

- Altcoins are divided into two types: coins and tokens.
- Each network uses a different coin to function.
- Each network has conditional tokens. The network is the "home" for the tokens, and the tokens are its "tenants.
- If you want to use a particular network to transfer tokens, you need both the tokens you intend to transfer and the coins of that network to pay the transfer fee.
- Altcoins have many uses