Unexpected airdrops should be scrutinised in particular. While airdrops are free by their nature, they may require users to complete tasks and may have associated network transaction fees. Before participating in an airdrop, users should research a project to ensure it is legitimate. Do not interact with a token or BNB project if you aren't sure it's safe. This can vary by project, BNB and users should exercise discretion for this reason. If it seems too good to be true, it probably is.
Airdrops have also become a common marketing tool for new DeFi startups. This is typical for smaller projects without much history or momentum. If the project gains steam, the value of the token would likely appreciate - making the airdropped amount more valuable. As a result, the value of the airdrop is generally low. Today, many airdrops are announced in advance, or rewarded in exchange for likes and shares. Many development teams use the engagement an airdrop announcement creates to help bootstrap their project from the ground up.
This can help attract new users, who use the platform with the hope of also being rewarded. An airdrop might be seen as good etiquette by the community. When a large project launches a token - as in the case of Uniswap - an airdrop rewards previous users who helped the project to grow. Many airdrops are an effort to distribute tokens fairly. If a successful project launched a newly minted token without an airdrop, it might be perceived as having turned its back on the initial investors who made it popular.
The 1inch (CRYPTO:1INCH) protocol also airdropped tokens based on historical usage of the platform. Other airdrops may require that the user has met some criteria. Additionally, bitcoin the criteria for these airdrops were not announced in advance so that no one could game the system to amass tokens. During the Uniswap UNI/USD airdrop, 400 UNI was airdropped to anyone who had used the protocol before September 1st, 2020. Both of these airdrops were worth thousands of dollars - but this is the exception, not the rule.
Blockchain and cryptocurrency infrastructure provider Binance announced Wednesday that it has established a joint venture with a consortium led by Telkom Indonesia’s $830-million venture capital arm, MDI Ventures (MDI). Telkom Indonesia is the country’s largest telecoms company.
This week, crypto Binance announced that it is shutting down its crypto exchange in Singapore. "Binance made a sizable investment into regulated exchange HGX last week. We will continue to work through our partners to grow the crypto industry in Singapore," explained Zhao. This investment made our own application somewhat redundant.
Binance has formed a joint venture with a consortium led by Telkom Indonesia’s $830-million venture capital arm. Binance aims "to expand the blockchain ecosystem in Indonesia with the development of a new Indonesian-based digital asset exchange."
The 1INCH airdrop targeted Uniswap users to try to convince them to switch to the competing 1inch platform. For example, a DeFi project might use an airdrop to entice the customers of another. Some airdrops also target investors who could bring value to the project.
Blockchain is sometimes referred to as a web wallet since it is cloud-based. Plus, you can sync across devices which is ideal if you tend to switch between, crypto say, a desktop and phone. Although, having information in the cloud is arguably less secure than only having it on your device. One good thing here is that the wallet doesn’t need to be backed up.
But even after the rebate decreases, users are still likely to own leftover BNB that they might as well continue to use. As a dominant cryptocurrency exchange, we can expect Binance’s coin to continue to circulate widely. The rebate, of course, is a nice perk for lowering trading fees. Binance is promoting the adoption of the BNB token in the hopes that it will drive customer loyalty. The more its adoption grows, the more valuable and useful it becomes.
Compatibility: You’ll need to think about where and how you’ll want to access your wallet and choose one that’s compatible with your device(s) Security features: User control of private keys, two-factor authentication, multisignature accounts, and backup keys are some of the important features to look out for. Ease of use: Beginners will probably want something that’s simple to set up and that makes it easy to move your bitcoin
BNB initially traded around $0.10 before rapidly shooting up to $2.80 in 2017. Fortunately, Binance has a good business model which incentivizes traders to continue using BNB to pay for their trading fees. This has largely kept the price up as traders hold BNB instead of dollars. Altcoins have really suffered in the 2018 bear market.
Converting a cryptoasset back to cash depends on demand and supply existing in the market. Price volatility : Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses. Charges and fees : Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products. Product complexity : The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks. Marketing materials : Firms may overstate the returns of products or Binance understate the risks involved. There is no guarantee that cryptoassets can be converted back into cash. Consumer protection : Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.