10 Random Crypto Things I Learnt This Week

10 Random Crypto Things I Learnt This Week

By cryotosensei | CryptoSensei | 26 Feb 2022


I love hanging out at the Discord channel run by Hodlnaut these days. People are friendly and generous with their knowledge; there’s never a dull moment, and the crypto topics run the whole gamut from multi-factor authentication to NFTs to crypto lending platforms.

1) Gemini and Ledn are considered the safest exchanges due to their lending practices. They team up with Genesis Global Capital, an established crypto lender. Genesis is incidentally a subsidiary of Digital Currency Group, which also owns CoinDesk.

2) NFTs not only enables you to own digital art and get access to virtual events, but it also helps you increase your crypto wealth by letting you stake NFTs for currency. For instance, the Cardano Croc right now can be staked for $C4 tokens, which is the currency for the Cardano Crocs game that is under development.

3) NFTs can even be linked to a physical whisky bottle. So when you burn it, it will trigger a redemption for the physical bottle sent to you

4) Celsius has a holistic revenue-making model that it terms as a five-legged stool. So besides lending crypto to institutional borrowers, they employ DeFi, manage a huge Bitcoin mining operation, lend to TradFi and make transactions between blockchains. No wonder they are one of the largest players in the crypto space. 

5) Utility tokens like FTT and CEL are a boon or band, depending on how you see it. If you stake FTT, you will qualify not only for free ERC-20 withdrawals but also gain governance votes on some of their proposals. Having CEL, on the other hand, lets you get higher interest on some of Celsius’ promos.

6) Loving how Decentraland is flexing its muscles, with JPMorgan now joining the likes of Samsung, opening up a virtual store, Manchester United, and their collaboration with Sony to build the first virtual soccer stadium and the country of Barbados, establishing a metaverse embassy.

7) If you link your MetaMask to  Trezor and lose your Trezor, you need to get a new trezor. But here’s the thing. You can restore your old seed phrase to be able to use your MetaMask again. At least this reduces the cognitive load associated with thinking about how to store and memorise your new seed phrases.

8) If you yearn for a decentralised way to ‘track’ real world stocks, tokenised stocks offered by Cake DeFi might be your cup of tea. The minting process of new dTokens will occur, in which they will follow the oracle price. Once in the DFI blockchain, they can freely move based on supply and demand. Another platform that has tokenised stocks is the Mirror Protocol. 

9) If you are eager to try out options in crypto, Katana, Friktion and Ribbon Protocols ate popular options to start.

10) Milo is a crypto mortgage firm in the US that allows you to put up your bitcoin as collateral only.

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cryotosensei
cryotosensei

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CryptoSensei
CryptoSensei

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