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How To Send Money To Binance & AVOID HEFTY GAS FEES!

The World of Cryptocurrencies seems extremely complicated, for example, if you want to buy FLOKI through Pancake Swap you need to have Binance Token, and to buy Binance Token you …need a Fiat Currency, the problem is that, unless you’re exchanging US dollars, the fees on Binance are a little high.
You can buy Binance by using your credit card and paying commissions or via p2p which with no fees, may seem like a good, but since the exchange is from person to person the possibility of fraudulent activity is greater and you need to be careful.

If you want to exchange a Fiat currency that isn’t the US Dollar in a safe way and not have to pay too much, here’s a trick to help you pay less in fees.
It consists of sending euros via Kraken or Coinbase, we’re going to show you to do it via Kraken.
Click on the Funding tab and then click on the Deposit button.
In this next window select the Fiat currency you want to deposit, in this case, we’re using Euros, and add the quantity you want to deposit.
You will then be given the details you’ll need to make an international bank transfer of that quantity to your Kraken account.
Now, because Binance won’t accept transfers in Euros we’ll have to change our Euros into a Cryptocurrency that has low transaction fees, something like Algorand or Stellar Lumens.

Now, we have our Euros in Kraken, we need to buy the Low Fee Cryptocurrency we’ve chosen, in our case Stellar Lumens, Click on search and type in the coin you want.
Click on New Order and then Advanced and then type in the number of Euros you want to change into XLM.
Click on Buy XLM with Euros and a pop-up appears with the details of the operation.
Click on accept and the open order appears below.
Refresh your browser until the order appears as completed.

Now we can send our XLM to Binance.

Go to Binance and go to your wallet and click on Fiat and Spot.
Click on the Deposit button and then on the Deposit Crypto button.
Select the coin you want to deposit and the Network, in our case, XLM and Stellar Lumens, and click on the Get Address button.
You will need to copy both the Address and the Memo number.
Copy the Address first and go to Kraken.
In Kraken, click on the Funding tab and then, click on the withdraw arrow on the coin you wish to withdraw, once again in our case XLM.
Click on Add address and write the name of the address, in this case, Binance, then paste the address you copied from Binance.
Next, go back to the Binance page and copy the memo number and then back to Kraken and paste it into the Memo box.
Click Add New Address and you’ll be sent an email that requires confirmation.
Once you have confirmed that the address is correct, select the amount you want to move to Binance, in our case 100%.
As you can see the fees are very low.
Click withdraw and go to Binance.
Refresh the page to see if the operation has been completed, this may take a while.
As you can see everything is correct.
Go to Wallet and then Fiat and Spot, search for XLM and we see it here.

Now that we have our XLM on Binance there are two basic ways we can change it to the Binance token that we want.

First, the Classic trade, enter XLM in the search box, then look for the pair, here we see XLM and BNB, BNB being the Binance coin we want, click on it.
At the bottom we can see that we can buy or sell XLM, we want to sell it for BNB so we select the quantity we want to sell for BNB and click sell.
As happened before, our order appears below as an open order, so we refresh the page until it appears as completed.

The second method is to convert.
Go to your wallet page on Binance and click the convert button next to the coin you want to convert, select the coin and the amount you want to convert, in this case, XLM, then select the token you want to convert it into, in this case, BNB and click on Preview Conversion, here you’ll see the rates and the amount you’ll get, click Convert.
And that’s it, we’ve successfully converted our Euros into BNB, yes it takes more time, and yes it seems more complicated but by doing it this way we’ve managed to save quite a bit of coin, and when it comes to investing in cryptocurrency, every bit (coin) counts![+] Show More

How To Send Money To Binance & AVOID HEFTY GAS FEES!

The World of Cryptocurrencies seems extremely complicated, for …

How To Send Money To Ronin Wallet WORKS! OCT 2021

As with buying most crypto currencies, everything is always changing …

As with buying most crypto currencies, everything is always changing and new problems are always arising. So I just wanted to do a quick guide of how to get started …with Axie Infinity and the problems you may run into, and how to solve them.

To get started playing Axie, you’re going to need to buy three Axies. In the description is a handy guide of how to choose the best ones for your budget. There is a way of getting started without spending, which I’m not going to get into here.

The first thing you’re going to need is a Ronin Wallet. This is where you’re going to keep the WETH that you need to buy the Axies. If you already have Ethereum in a wallet like Metamask, you can transfer it into your Ronin Wallet, using Ronin Bridge, however ETH gas fees will apply. Or you can buy WETH straight to Ronin using the built-in Ramp system, directly from your bank or using a credit card.
Unfortunetly, this hugely easy-to-use method didn’t work for me. Neither with credit card nor with my bank or with another bank.

It turns out that the Ramp bank account that you send your payment to is only compatible with SEPA banks, and many European banks are imcopatible with Ramp’s 22-digit IBAN number. A great way to get around this is to use Wise also known as TransferWise. You can create an account for free and they charge probably the LOWEST wire fees out there. Or if you use the sign-up link in the description your first transfer will be completely free!
https://wise.com/invite/u/josephg479

This means you can wire money from your bank or credit card in the currency of your choice, over to Ronin which is autoconverted into WETH. and you dodge hefty ETH gas fees.

This is the cheapest way I worked out of doing it as no bank was compatible with Ramp’s IBAN number.

Once you have the WETH in your Ronin wallet you can buy your first Axies, but I recommend you read-up on which type of Axies work well together so you can make the best team for your buck.

I hope this video was useful and helped you get started with this interesting NFT based game! And if this helped you out, please like and subscribe for more!
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Is Staking Profitable?

The short answer is Yes. Just like locking your money into a …

The short answer is Yes. Just like locking your money into a high-yield saving account for a period of time will earn you interest on the capital you have in …your account. Staking is basically locking your cryptocurrency into an account for a period of time where it’s used to increase the cryptocurrency’s value, bolster the network and achieve more cryptocurrency of which you will get a percentage, depending on the amount you have invested.

The longer answer is also Yes, but only if you know what you’re doing.
Staking is similar to having a traditional savings account and a traditional investment account all rolled into one.
With a traditional savings account, your money growth depends on the interest rates given by the bank, if these rates are lower than inflation, you may find that an investment of say, $250,000 grows to $400,000 in 20 years, but a house you could have bought for $250,000, 20 years ago is now worth $500,000, so although 20 years later, you may have more dollars, those dollars are now worth a lot less.
With a traditional investment account, the money you invest is used to buy and sell stock and bonds, etc, whether you make a profit or not, is dependant on the investments you or your advisor make, and how much they grow over time.
Say you buy 1000 shares at $250 a share, a total investment of $250,000, in 20 years the share price goes up to $500, you still have 1000 shares but now the total is worth $500,000.
With staking, as with a saving account, the amount of currency you have will increase over time depending on the interest rate, but in addition, just like the value of a share does in a traditional investment account, the value of that Cryptocurrency will increase.
So just as you need to be wary of inflation rates with a savings account and wary of the potential your investments have for growth in an investment account, when staking, you need to be wary of inflation rates and the potential your Cryptocurrency of choice has for growth.
But if the rates are good and the cryptocurrency’s value increases, you will not only have more coins but the value of each one will also increase.

The basic truth is that if you have a certain cryptocurrency and plan to hold onto it for a period of time until it increases in value then you are probably better off staking, this will not only gain you rewards and therefore more coins but staking your coins effectively takes them of the exchange market meaning fewer coins are available which increases demand for your specific cryptocurrency and therefore increases its worth.
Keeping your cryptocurrency in a secure wallet and waiting for its value to increase is a bit like keeping your money under the mattress, it’s safe, you know where it is, but it’s not really doing anything.
Staking is like investing, your money may not be as safe, but it’s growing in quantity, and hopefully, in value.

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Most Googled Crypto Questions ANSWERED!

Banks and governments, in general, don’t like cryptocurrencies because …

Banks and governments, in general, don’t like cryptocurrencies because they have little or no control over them and therefore they’ll tell you they’re bad, this is because they have a …vested interest in them doing badly. But if you ask someone who invests in cryptocurrencies, they’ll tell you they’re good. Someone who invests in Bitcoin will tell to invest in bitcoin. Ask Aston Kutcher and he’ll say Ethereum’s better, and ask Elon Musk, and he’ll say Dogecoin’s the best. This is because they’ve all invested in these Cryptocurrencies and therefore have a vested interest in them doing well, with so much bias out there it’s no surprise that there is also a lot of doubt, so we’ve picked out the 10 most asked questions on google, and answered them for you.

1. What’s The Purpose Of Cryptocurrency?
The idea behind cryptocurrency is to have an encrypted digital currency for safe online transactions, these transactions would be controlled by a shared communal ledger on every user’s computer rather than a central ledger controlled by a central bank. This allows for faster, securer, anonymous digital transactions that no bank, federal, or central governing agency can control.

2. Who Controls Cryptocurrency?
In the current centralized system, a bank or governing body holds a central ledger that basically says who has what and who owes what to whom, in the decentralized cryptocurrency system this ledger is shared with all the users on the interface and all agree on who has what and who owes what to whom.
Cryptocurrency creators may initially set up certain rules for their currency, how proof of work is achieved, how much currency there will be etc. But just like the transaction ledger or blockchain, these parameters cannot be changed unless a majority of users approve them.

3.Should I Invest In Cryptocurrency or More Traditional Funds?
Cryptocurrency is fairly new in the investment game, Bitcoin has only been around since 2009, but even though its value has fluctuated in the short term, it’s only grown in the long term, however, it is still a speculative investment so Traditional investment funds are definitely the safer option. If you already have a healthy portfolio, you may want to invest in Cryptocurrency, here are a couple of things to bear in mind before doing so, Only invest under 5% of your portfolio, prepare yourself for the possibility of losing it, and invest for the long-term to avoid the short term fluctuations.

4. How Much Of My Portfolio Should I Invest In Cryptocurrency?
The answer to How much should I invest? is the same answer you’d give to How much can I afford to lose? This is because cryptocurrency has massive potential for growth but, it value can also drop with just a tweet from Elon Musk. In March 2011, a Bitcoin was worth $1, in July 2021, it was worth $40,000! Had you sold that same Bitcoin on April 14th just 3 months earlier, it was worth $64,000! so even though the short-term fluctuations can be big, the long-term trend is growth.

5. Which Cryptocurrency Should I Invest In?
This really depends on how much risk you are willing to take. Experts recommend investing in “safer options” like Bitcoin or Ethereum over others with less trade volume and market history.

6. Can I Be Hacked? How Do I Protect Myself?
While the blockchain itself is extremely secure, so your transactions are safe, the exchange where you buy your cryptocurrency and the wallet where you so it along with your encrypted keys aren’t quite as secure. Considering that if you’re investing in cryptocurrency you’re looking at a long term investment, your best option is to store your Cryptocurrency and keys in a cold wallet, this is basically a USB drive, that, because it’s offline isn’t at risk from hackers, the downside being that if you lose it, you’ll have no way to access your crypto and so would have effectively lost it all. If you want your cryptocurrency to be more readily available you could hold it at the exchange or on a software program on your computer, also known as a “hot wallet”. These options are not as safe, so be sure to heavily research the security measures they have in place.

7. How To Start Investing In Cryptocurrency?
There are basically 5 steps:
1. Choose a Cryptocurrency.
Based on the research you’ve done pick the best currency for you.
2. Choose an Exchange.
Things to look out for are how much their fees are, what security measures they have, and the coins that are available.
3. Fund your Account.
You need to set up an account and transfer funds to it, generally speaking, a bank transfer is the best option.
4. Place an Order.
Choose the currency you want and the amount you wish to purchase.
5. Store it.
Choose whether you want to store your coins in the online vault at the exchange site or in your own hot or cold wallet.

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What is Ethereum? Explained and Made Simple.

What is Ethereum? To understand this, you need to have a basic …

What is Ethereum? To understand this, you need to have a basic understanding of Bitcoin; you can watch our simple explanation video here: https://youtu.be/9LlPuxpCX-Q
Bitcoin is a decentralized system. This means …it doesn’t require a central governing body to control and record who spends what. Each Bitcoin transaction is confirmed and validated by the entire network and therefore no central governing body can control, manipulate, or shut it down.

Ethereum takes this concept and runs with it, if we can decentralize our monetary system, what other centralized systems would benefit from being decentralized?
General elections or indeed any kind of voting requires a central authority to validate and count votes, this method is open to manipulation and corruption, if it were decentralized, a vote would have to be validated by everybody on the network making manipulation almost impossible.
The real estate industry, The Stock exchange, Medical and Dental Records, Insurance Information, Tax Information, Social media, Uber, and even Google all require a central authority to record, validate and control the information it’s given.
Ethereum wants to decentralize everything, so not central power has control over anything, basically cutting out all the middlemen

Why doesn’t Bitcoin do this?
Bitcoin’s Blockchain technology is a lot simpler than Ethereum’s, it’s intended to simply validate and store monetary transactions to enable a decentralized system.
Transactions on the Ethereum network, however, may also contain executable code.
This code is known as a Smart Contract and it enables the creation of Decentralized Software Applications or DApps, programs that no central power has control over, no even its creator. Once written and deployed onto The Ethereum Network, each and every computer (or node) on the network will ensure that the program runs exactly how it was written.

Smart Contracts
A smart contract is a collection of code and data that is stored on the Ethereum blockchain. These Smart Contracts work just like standard contracts but automatically, perhaps the best comparison is that of the vending machine whereas if money is given and a type of snack is selected then the machine dispenses that snack. If someone interacts with a smart contract, the smart contract responds in a preprogrammed way. Interacting with one smart contract can also trigger other contracts on the blockchain and this way more complicated actions are possible. However, these contracts must be thoroughly tested before deploying because once on the network it is also impossible to rectify them, as occurred in the DAO incident that caused Ethereum to split. (we’ll cover this in detail in a later video)

Incentives.
Whereas with Bitcoin, Miners are rewarded in Bitcoin for the work they do in verifying transactions and solving the hash. Full nodes on the Ethereum network are rewarded for transactions and hosting and maintaining the data in Ether. Ether is the Ethereum Network’s Native currency.
People who want to make a transaction or want to build a software application or DApp on the Ethereum network have to pay for the space and computing power required to deploy it using Ether. The cost of deploying a transaction, smart contract or DApp depends on the its complexity, weight and how quickly you would like it to be deployed, this cost is known as Gas. Just as a dollar is split into 100 cents and a bitcoin is split into 100 million parts and these are called Santoshis, Ether is spilt into a quintillion parts and these are called Wei, although the most commonly used denomination is a billionth part of an Ether and is called Gwei. Gwei is used to work out how much Gas costs in Ether. (but more about this in another video)

Hope you understood and enjoyed this video, let us know in the comments!

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How Do You Buy Bitcoin? Easy Beginners Guide

So now that you understand how Bitcoin works, (if not, check out our …

So now that you understand how Bitcoin works, (if not, check out our Bitcoin explanation video) you want to buy some. Before you can buy some digital money, you’re going …to need a digital wallet to keep it in, depending on how you intend to use Bitcoin there are basically 3 options available to you:
1. An online web-based wallet.
These are basically websites that you can open an account on to buy, sell or spend Bitcoin and they are probably the best option if you intend to use Bitcoin on a daily basis.
The pros are that they’re generally free to use and because you can do everything on the same site, they’re easy to use.
The cons are that because you can do it all on one website, they are more vulnerable to attack and because you have to sign up for an account, you are no longer anonymous, which is one of the key benefits of decentralized currency.

2. A software-based wallet.
This is probably the best option if you intend to invest, buy and sell, but not actually use Bitcoin on a daily basis.
The pros are that because they are software-based they are more secure than purely online services.
The cons are that you can only interact with your bitcoin from your own devices.

3. A hardware-based wallet.
These are basically USB drives that store your private and public keys that give you access to the coin you have on the blockchain.
This is probably the best option if you intend on buying Bitcoin and don’t plan to trade regularly. The pros are that it’s the safest way to store your bitcoin, the cons are that it’s harder to interact with your bitcoin and if you damage or lose your USB drive, then you’ve lost your bitcoin too.

The next thing you’ll need to do is to find a Bitcoin Exchange, these are called Fiat-to-Crypto exchanges, and they accept any form of legal currency, pound, dollars, euros, etc in exchange for Cryptocurrency. When choosing from the hundreds of Fiat-to-crypto exchanges available you should be aware of the following;
1. The exchange fees.
Buying fees vary quite a lot from one exchange to another be sure to check out the pricing page before buying and bear in mind that buying with a credit card will almost always be more expensive than with a bank transfer.
If you are going to buy with a credit card check that your card provider doesn’t charge a Cash Advance fee for cryptocurrency purchases because this could lead to higher interest rates on your balance.
2. The exchange’s location.
As a rule of thumb, it’s cheaper to use an exchange that’s based in your own country because you’ll be able to avoid foreign transaction charges and currency conversion fees.
Once you’ve chosen your preferred Fiat-to-Crypto exchange you’ll have to register with them and complete the security checks. These are designed to prevent money laundering and vary depending on the exchange, but generally, you’ll be asked for a phone number for Two-Factor authentication and for a copy of your ID or passport and you may even have to complete an ID check on your webcam.

Now we’ve got our wallet and we’re registered on the exchange, we need to transfer funds to our exchange account.
You can do this with your credit or debit card although this will likely incur larger fees, somewhere between 3%-5%, whereas if you link your bank account the fees are less than 1% or in some cases, there are no fees, you can also transfer money from your account to the exchange and then buy bitcoin or you can sell bitcoin and transfer the money back to your account.
Once this is set up you can now transfer money to your Exchange Account and then from this account, Buy your first Bitcoin.

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What is Staking? "Proof of Stake" EXPLAINED! Quick & Easy Crypto

One of the things a financial system needs is a consensus. If Fred has …

One of the things a financial system needs is a consensus. If Fred has 5 apples and gives 2 to Paul, everybody needs to know that Fred no longer …has 5 apples, and now has 3 and that Paul now has 2 apples. In the traditional centralized system, There is a hidden central ledger that provides this Consensus.

In a decentralized financial system, there is a public ledger where transactions are checked by all.
In order for something to have value, it has to have a cost. If it’s abundant and easy to achieve, it has no value. If it’s rare and hard to achieve, it’s valuable.

Proof of Work.
One of the ways decentralized systems achieve this is called “Proof of work”, for example, with Bitcoin, you’re mining, completing blocks of verified transactions which are then added to the blockchain. Once you have completed a 1MB block of transactions you are eligible to play what is basically a rather elaborate “Guess the number” game with trillions of possibilities. All the other computers that have completed the block are also “Guessing the number”, the computer to “Guess” the number first, solves the block, gets to write in all the new transactions into the blockchain, and are rewarded with 12.5 bitcoin. The guessing of this complex solution is “Proof” that you’ve done the work and therefore should be recompensed.
This “Proof of Work” method requires a substantial amount of computing power and electricity and although it’s a very solid and secure system it’s not very economical or eco-friendly.

Proof of Stake.
Similar to the “Proof of work” system, the “Proof of Stake” system also requires you to complete these blocks of verified transactions, but instead of spending money on mining equipment and electricity in order to solve the puzzle and “prove your work”, it requires you to put that money into a pool to “Prove your Stake”.
With the Proof of work system, the more computing power you have, the greater possibility you have of solving the puzzle and earning the reward.
With the Proof of Stake system, the greater your stake is, the greater your supposed computing power would be, and therefore the greater your possibility of solving the puzzle and earning the reward.
Basically, instead of investing time to receive 12.5 bitcoins per block, you’re investing money to receive 12.5 bitcoins per block.

Staking Pools.
If you had 1 coin and spent it on mining equipment and electricity to find the solution to the block, the probability that you could solve it before someone else and earn 12.5 coins would be very low, but if you got together 24 other coin owners and pooled together 25 coins your possibilities would be 25 times higher but your return would be half a coin instead of 12.5. This is essentially what staking pools are.
Staking pools are also known as “Masternodes” and have minimum requirements, this may be 1000 coins or 5000 coins, and so on. One person alone may not be able to form a Masternode alone because if 1 coin is worth $100 then 5000 is $500,000 and not everyone has this amount of money to invest.
This is where Staking platforms come in. these companies basically enable you to put your coin (however much you may have) into a pool and form a fractional part of this Masternode, if your stake forms half the Masternode then your return will be half of the Masternode, minus the Staking platforms cut.

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Bitcoin Explained and Made Simple!

In order to understand, how bitcoin works we must first understand how …

In order to understand, how bitcoin works we must first understand how money works. Originally people would trade one commodity for another, for example, some eggs for some milk, the …problem with this was that it was hard to know exactly how much milk to give for a couple of eggs and so bartering was necessary.

To overcome this problem people started trading in a common commodity that everyone needed and used, such as salt or gold. but this had the problem that you couldn’t carry huge amounts of salt or bars of gold around with you.

To overcome this, Banks and governments offered to keep your gold for you and give you some paper bills in return, if you had 100 paper bills worth of gold, you could give one to someone else without having to shave a bit off your gold bar, and if you wanted your bar back you gave 100 paper bills back to the bank. The gold gave the paper its value.

Overtime governments decided that they would vouch for the paper bill’s value. and since the government said a piece of paper with $1 on it was worth $1 and always would be, everybody accepted that that piece of paper was worth $1, trusting in the value the government gave it rather than the value gold gave it.

There are 2 main problems with this though-
1. All money is centralized and requires this central power to control and issue it, which creates the possibility of manipulation and corruption.
2. It’s unlimited, the government can print as much as it wishes. However, the more bills they print, the less each bill is worth.

Nowadays most transactions are digital and don’t use paper bills, this causes another problem, which is controlling whether people have the money to spend or whether they have spent it already, a problem known as “Double spending”. This problem is solved by banks and credit card companies keeping a central ledger of every transaction made.

In October 2008, someone published a document online under the alias of Satoshi Nakamoto. This document explained an idea for a digital currency called Bitcoin that needed no middlemen or controlling central power.

Instead of a bank or credit card company keeping a central private ledger to record how much money you have to spend and how much you have spent and so ensuring no double spending is happening.
Bitcoin’s ledger is public, every bitcoin user’s computer keeps an exact copy of the ledger that is constantly updating and checking transactions.

Whereas with the central ledger, the user is public and the transaction is private,
with Bitcoin the transaction is public but the user remains private.
This anonymity means no central body can control the individual’s assets or know what they spend them on.

Bitcoin is a digital currency that has the same value all over the world. Instead of a government saying $1 is worth $1 and thus giving it value, People, give Bitcoin its value, the more people want Bitcoin, the greater the demand and so, the greater its value.

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