Wybo Wiersma – a 40-year-old Oxford University graduate – has been sentenced to four and a half years in prison after scamming over $2 million in crypto from unsuspecting victims. Following his arrest in 2019, the Dutchman was extradited from the Netherlands back to the United Kingdom (UK) in 2021. Following a five-year investigation by the South East Regional Organised Crime Unit (SEROCU), he pled guilty on January 26 to the Oxford Crown Court. A Five-Year Investigation As reported by…
Various DeFi Services Crypto Holders Can Access
Several types of services can be accessed in the decentralized finance (DeFi) space, including:
- Lending and borrowing: Platforms such as Aave, Compound, and MakerDAO allow users to lend and borrow cryptocurrencies, earning or paying interest.
- Trading: Decentralized exchanges (DEXs) such as Uniswap and SushiSwap allow users to trade cryptocurrencies in a decentralized manner without the need for a central authority.
- Stablecoins: Stablecoins such as DAI and USDC are designed to maintain a stable value and can be used as a store of value or as a means of exchange.
- Yield farming: Yield farming platforms such as Yearn Finance and SushiSwap allow users to earn interest on their cryptocurrencies by lending them to liquidity pools.
- Insurance: Platforms such as Nexus Mutual and Opyn allow users to purchase insurance on their DeFi investments to protect against potential losses.
- Prediction markets: Platforms such as Augur and Gnosis allow users to bet on the outcome of events and earn rewards for correctly predicting the outcome.
- Identity management: Platforms such as uPort and Civic allow users to manage their digital identity in a decentralized manner and can be used to access other DeFi services.
- Remittances: Platforms such as Western Union and MoneyGram allow users to send money to other countries. However, DeFi remittances, such as transfers, can be decentralized and more cost-effective.
- Crowdfunding: Platforms such as KickStart and GoFundMe allow users to raise funds for a project or idea. DeFi crowdfunding platforms such as MolochDAO and Gitcoin allow for a decentralized approach.
- Asset tokenization: Platforms such as Polymath allow users to tokenize real estate and art assets, making them more easily tradeable on the blockchain.
- Governance: Platforms such as Aragon and DAOstack allow for decentralized governance of a project or organization, where token holders can vote on proposals and make decisions collectively.
- Gaming: Platforms such as Enjin and The Sandbox allow users to create and trade in-game items and virtual worlds on the blockchain and can also be used to access other DeFi services.
- Wealth management: Platforms such as Set and bZx allow users to create and manage a diversified portfolio of digital assets and can also be used to access other DeFi services, such as lending and borrowing.
- Tax management: Platforms such as TaxBit and TokenTax allow users to manage their taxes for digital assets more efficiently.
- Compliance: Platforms such as ChainGuardian and Polymath allow users to comply with regulations such as KYC and AML for digital assets more efficiently.
- Escrow: Platforms such as OpenLaw and Kleros allow for trustless escrow services for digital assets, where a smart contract holds the assets and releases them based on predefined conditions.
- Privacy: Platforms such as Aztec Protocol allow users to perform private transactions with digital assets and can also be used to access other DeFi services.
- Analytics: Platforms such as CoinGecko and DeFi Lama allow users to track the performance of digital assets and can also be used to access other DeFi services, such as trading and lending.
- Derivatives: Platforms such as dYdX and Synthetix allow users to trade derivatives of digital assets, such as futures and options.
- Payroll: Platforms such as Bitwage and Binance Payroll allow companies and employees to handle payroll and other financial transactions in a decentralized way, using digital assets.
- Budgeting: Platforms such as Money on Chain and DeFiSaver allow users to manage their budgets and savings in a decentralized way using digital assets.
DeFi services use blockchain technology and smart contracts to provide a decentralized and trustless way to access financial services. They enable users to have more control over their assets and transactions, comply with regulations, perform private transactions and manage their credit score, budget and payroll in a decentralized way.
What Is Crypto Historical Data and How to Use It in Trading
Crypto historical data refers to past information related to cryptocurrencies such as Bitcoin, Ethereum, and others. This data includes various metrics such as price, trading volume, and market capitalization. Crypto historical data is useful for several purposes in crypto trading. First, it helps traders and investors make informed decisions by comprehensively understanding the crypto market's past performance. Crypto Historical Data Use Cases Here are some of the ways crypto historical data is used in crypto trading: Technical Analysis: Traders use…
How to Effectively Predict Crypto Prices
Predicting crypto prices is a complex task and requires a combination of technical analysis, fundamental analysis, and market sentiment. Here's a guide to help you effectively predict crypto prices: Technical Analysis: This involves studying past market data, including price and volume trends, to identify patterns and predict future price movements. Use charting tools, such as candlestick charts, to visually represent this data. Fundamental Analysis: This involves analyzing the underlying factors that may impact the value of a cryptocurrency, such as…
Guide to Value a Cryptocurrency
Valuing a cryptocurrency can be difficult and subjective, as many factors contribute to its worth. However, here are some steps and considerations for valuing a cryptocurrency: Market capitalization: This is the total value of the cryptocurrency in circulation. It is calculated by multiplying the total number of coins by the current market price. Adoption and usage: The more people use cryptocurrency, the more valuable it is likely to become. This includes individuals and businesses using it for transactions or as…
The Best Crypto Portfolio Trackers (Coin Trackers)
Crypto portfolio trackers are apps or websites that allow users to monitor their cryptocurrency holdings across multiple exchanges and wallets in one place. They connect to users' exchange and wallet accounts through APIs (Application Programming Interfaces) and automatically track the user's cryptocurrency holdings and transactions. The tracker updates in real-time and provides an overview of the user's total portfolio value, asset allocation, and returns. This allows users to track their investment performance and make informed decisions easily. What Should The…
An Overview of Different Cryptocurrency Scams
Cryptocurrency scams are fraudulent schemes that are becoming increasingly common as the popularity of cryptocurrencies continues to grow. They can take many forms and are often designed to appear legitimate investment opportunities or exchanges. Unfortunately, these scams can cause significant financial losses for individuals and harm the reputation of the cryptocurrency industry as a whole. It is crucial for anyone considering investing in cryptocurrencies to be aware of the various types of scams and to take steps to protect themselves.…
What Are Crypto Data Aggregators?
Crypto data aggregators gather data from multiple sources to provide comprehensive and real-time information about the cryptocurrency market. They pull data from various exchanges, trading platforms, and other sources to centralize the information and present it in a user-friendly format. The data includes cryptocurrency prices, trading volume, market capitalization, news, and other relevant information. Crypto data aggregators use algorithms to clean, process, and normalize the data to ensure accuracy and consistency across multiple sources. The information is then presented in…
What Is CoinGecko?
CoinGecko is a cryptocurrency data aggregator and tracking platform. It provides information and insights on the cryptocurrency market, including price, volume, trading activity, developer activity, and community growth. How CoinGecko Works Data Aggregation: CoinGecko collects crypto data from various cryptocurrency exchanges, wallets, and blockchains to create a comprehensive database of cryptocurrency information. Calculation of Metrics: CoinGecko calculates several metrics, such as market capitalization, trading volume, liquidity, and community growth, to provide a comprehensive overview of the cryptocurrency market. Display of…
What Is CoinMarketCap (CMC)?
CoinMarketCap (CMC) is a website that provides information about the cryptocurrency market and tracks the capitalization of various cryptocurrencies. It was founded in 2013 and has become one of the most popular cryptocurrency data providers. CMC aggregates information about the prices, volume, and market capitalization of cryptocurrencies from various exchanges and calculates the average value. Furthermore, the website displays this information in real-time, giving users a comprehensive overview of the cryptocurrency market. CMC tracks over 22,000 cryptocurrencies, including Bitcoin, Ethereum,…
What Are Crypto Pyramid Schemes?
A crypto pyramid scheme is a fraudulent investment scheme where returns are paid to existing investors from funds contributed by new investors. It's called a "pyramid" because it typically has many new entrants at the bottom, with each layer representing fewer investors. Example: John starts a pyramid scheme and invites five friends to invest 1 Bitcoin each. John promises to return 2 Bitcoins to each participant in a month. John needs 10 Bitcoins to fulfill his promise, so he invites…