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The Ultimate Guide to Crypto: From Bitcoin to Altcoins

April 18, 2023 By cryptoxray Leave a Comment

Bitcoin Blockchain

Understanding Bitcoin

What is Bitcoin?

Bitcoin is the first and most well-known cryptocurrency, created in 2009 by an anonymous person or group using the pseudonym Satoshi Nakamoto. It was designed as a decentralized digital currency, allowing peer-to-peer transactions without the need for intermediaries like banks or payment processors. The underlying technology, blockchain, enables a transparent and tamper-proof public ledger that records all transactions.

Decentralization is one of Bitcoin’s key advantages, as it eliminates the potential for a single point of failure, reduces the risk of censorship, and ensures that no single entity can control the currency. This feature makes Bitcoin an attractive alternative to traditional fiat currencies, especially in countries with unstable currencies or strict capital controls.

How does Bitcoin work?

Transactions in the Bitcoin network are recorded on a public ledger called the blockchain. When a user sends Bitcoin to another, the transaction details are broadcasted to the network. Miners, who maintain the network, group these transactions into blocks and compete to solve complex cryptographic puzzles in a process called proof-of-work. The first miner to solve the puzzle adds the block to the blockchain and receives a reward in newly minted Bitcoins.

This consensus mechanism ensures that only valid transactions are added to the blockchain, and it secures the network against malicious actors. The more miners participate, the more secure and decentralized the network becomes.

Swissborg Invest in crypto

Investing in Bitcoin

Investing in Bitcoin can be an attractive option for those looking to diversify their investment portfolios or gain exposure to a new asset class. To invest in Bitcoin, you need to:

  • Buy Bitcoin: You can purchase Bitcoin through various platforms like cryptocurrency exchanges, peer-to-peer platforms, or Bitcoin ATMs. Ensure that the platform you use is reputable and secure..
  • Store Bitcoin safely: Once you have purchased Bitcoin, it is crucial to store it securely. You can choose between hot wallets (online) for convenience or cold wallets (offline) for enhanced security.
  • Investment strategies: Consider your risk tolerance and investment goals before investing in Bitcoin. Long-term investors, or “HODLers,” may hold Bitcoin for years, while short-term traders may buy and sell Bitcoin to profit from price fluctuations.
  • Be aware of risks: Investing in Bitcoin carries risks, including price volatility, regulatory changes, and potential security breaches. Always do your research and invest wisely.
  • Take control of your crypto investments with SwissBorg. Benefit from cutting-edge features and a secure, intuitive platform. Sign up for SwissBorg using our affiliate link and begin your journey.

Exploring Altcoins

What are Altcoins?

Altcoins, short for “alternative coins,” are cryptocurrencies other than Bitcoin. They emerged as developers sought to create new digital currencies with unique features, improvements, or use cases compared to Bitcoin. Today, there are thousands of altcoins, each with its own specific purpose and market niche. While some altcoins have gained significant market share and popularity, many others remain obscure or have limited impact on the broader crypto ecosystem.

Top Altcoins to Watch

Altcoins Crypto

Here are some of the top altcoins that have gained traction in the crypto market:

  • Ethereum: Launched in 2015, Ethereum is a decentralized platform that enables the creation of smart contracts and decentralized applications (dApps). Its native currency, Ether (ETH), is the second-largest cryptocurrency by market capitalization.
  • Binance Coin: Binance Coin (BNB) is the utility token for the Binance ecosystem, one of the largest cryptocurrency exchanges in the world. BNB can be used to pay for trading fees, participate in token sales, and access various Binance services.
  • Cardano: Developed as a scalable and sustainable blockchain platform, Cardano aims to provide a secure and efficient environment for dApps and smart contracts. Its native token, ADA, is used for transactions and governance on the platform.
  • Polygon: Polygon, previously known as Matic Network, is a layer-2 scaling solution for Ethereum that aims to provide faster and cheaper transactions. Its native token, MATIC, is used for transaction fees, staking, and governance within the network.
  • Solana: Solana is a high-performance blockchain designed for decentralized applications and cryptocurrencies. It offers fast transaction processing and high throughput, with its native token, SOL, used for transaction fees and staking on the network.

Other noteworthy altcoins include Litecoin, Avalanche, Algorand, and Cosmos, among others. Each of these projects has its own unique features and potential use cases, making them attractive for investment or development purposes.

How to Invest in Altcoins

Investing in altcoins requires research and a well-considered strategy. Here are some steps to guide you:

  • Choose a reliable platform: Select a reputable and secure cryptocurrency exchange or platform to buy and manage your altcoins. One such platform is SwissBorg, which offers a user-friendly experience and a wide range of cryptocurrencies to choose from. Sign up for SwissBorg using our affiliate link to get started.
  • Research and selection: Investigate the fundamentals of potential altcoin investments, including the project’s team, technology, use case, and market potential. Look for projects with a solid foundation, clear vision, and strong community support.
  • Diversification and risk management: Diversify your investments across multiple altcoins to spread your risk. Avoid putting all your funds into one project, as the crypto market can be volatile and unpredictable.
  • Buying and storing altcoins: Purchase altcoins through reputable exchanges or platforms. After acquiring the coins, store them securely in a compatible wallet, preferably a hardware wallet for enhanced security.
Swissborg New Era of Investing

Understanding Crypto Prices and Market Dynamics

Factors Influencing Crypto Prices

Various factors can influence cryptocurrency prices, including:

  • Market demand and supply: Like any market, crypto prices are driven by supply and demand dynamics. A surge in demand or a limited supply can drive prices higher, while an excess supply or reduced demand can lead to lower prices.
  • Technological advancements and innovations: New developments in blockchain technology or breakthroughs in cryptography can positively impact the value of cryptocurrencies associated with those advancements.
  • Regulatory environment and government policies: Changes in regulations or government policies can significantly affect the crypto market. Supportive regulations can boost prices, while stricter measures can lead to a decline in prices.
  • Market sentiment and news: The crypto market is highly sensitive to news and sentiment. Positive news can spark bullish trends, while negative headlines can trigger bearish market movements.

Crypto Price Volatility

Cryptocurrency prices are known for their high volatility, which can be attributed to several factors:

  • Market immaturity: The crypto market is still relatively young, with a limited number of participants and a smaller overall market capitalization compared to traditional asset classes.
  • Speculation: As the market is highly speculative, investor sentiment can change rapidly, causing sudden price movements.
  • Low liquidity: Some cryptocurrencies have limited trading volume, making them susceptible to sharp price fluctuations with relatively small buy or sell orders.

To manage the risks associated with volatility, investors can adopt various strategies, such as diversification, dollar-cost averaging, and setting stop-loss orders to limit potential losses.

Market Capitalization and Dominance

Market capitalization is the total value of a cryptocurrency, calculated by multiplying its current price by the circulating supply. It is a key metric for evaluating the size and relative importance of a cryptocurrency within the market.

Market dominance refers to the percentage of the total market capitalization that a cryptocurrency holds. Bitcoin has historically maintained the highest market dominance, but the rise of altcoins has led to a decrease in its share over time.

Analyzing market capitalization and dominance data can help investors understand the overall market trends and make informed decisions when allocating funds within their crypto portfolios.

In conclusion, understanding the factors that influence crypto prices, managing the risks associated with price volatility, and keeping track of market capitalization and dominance are essential skills for successfully navigating the crypto market.

Tips for Navigating the Crypto Market

Staying Informed and Updated

To succeed in the ever-evolving world of cryptocurrencies, it’s essential to stay informed and updated on the latest developments. Here are some ways to do that:

  • Follow reputable news sources and industry experts: Subscribe to reliable crypto news websites, blogs, and social media accounts of influential figures in the space to stay current on market trends, project updates, and new technologies.
  • Participate in online crypto communities: Join forums, social media groups, and chat platforms dedicated to cryptocurrencies, where you can engage with other enthusiasts, learn from their experiences, and share your own insights.
  • Stay vigilant for scams and fraudulent projects: The crypto space has its fair share of bad actors. Always verify information, double-check sources, and be cautious when investing in new projects or participating in token sales.
Exploring Altcoins

Portfolio Management

Effective portfolio management is crucial for success in the crypto market. Here are some tips:

  • Diversification strategies: Spread your investments across different cryptocurrencies and asset classes to minimize risk. Don’t put all your funds into a single project or category.
  • Balancing risk and potential rewards: Allocate your investments based on your risk tolerance and investment goals. Higher-risk assets may offer greater potential rewards, but they also carry a higher chance of losses.
  • Periodic portfolio reviews and rebalancing: Regularly review your portfolio’s performance and adjust your allocations as needed to maintain your desired risk level and investment strategy.

Security and Best Practices

Security should be a top priority for anyone participating in the crypto market. Follow these best practices to protect your investments:

  • Use secure wallets and exchanges: Choose reputable and secure platforms for buying, selling, and storing cryptocurrencies. Opt for hardware wallets or other secure storage solutions for long-term holdings.
  • Implement two-factor authentication (2FA): Enable 2FA on all your accounts to add an extra layer of security against unauthorized access.
  • Be cautious with private keys and seed phrases: Safeguard your private keys and seed phrases, as they provide access to your cryptocurrencies. Store them offline, in a secure location, and never share them with anyone.

By staying informed, managing your portfolio wisely, and prioritizing security, you can successfully navigate the crypto landscape and make the most of the opportunities it offers.

Conclusion:

The world of cryptocurrencies is vast and constantly evolving, offering a wealth of opportunities for investors and enthusiasts alike. This ultimate guide to crypto has provided you with a solid foundation to understand the key concepts and strategies related to Bitcoin and altcoins. By staying informed, managing your portfolio wisely, and prioritizing security, you can successfully navigate the crypto landscape and make the most of this exciting asset class.

Filed Under: Alt Coin Projects, Bitcoin, Crypto Guides, Exchanges

Solana: The High-Speed Blockchain Network

January 15, 2023 By cryptoxray Leave a Comment

Introduction to Solana: High-Performance Blockchain Network

Solana is a high-performance blockchain network that aims to enable faster and more scalable decentralized applications. It was launched in 2020, and since then has been gaining traction in the crypto community due to its impressive performance capabilities.

The Unique Consensus Algorithm: Proof of Stake Time (PoST)

One of the key features of Solana is its high throughput, which is made possible by its unique consensus algorithm called “Proof of Stake Time” (PoST). This algorithm allows for faster transaction processing and confirmation times, making it possible for Solana to handle up to 65,000 transactions per second. This is a significant improvement over other blockchain networks such as Ethereum and Bitcoin, which can only handle a fraction of that number.

High Throughput, Low Latency, and Low Fees

In addition to its high throughput, Solana also offers low latency and low fees. Transactions on the network are confirmed in under a second, and fees are typically only a few cents. This makes Solana an attractive option for decentralized applications that require fast and inexpensive transactions, such as gaming, decentralized exchanges, and prediction markets.

Decentralization and Security with Tower BFT

Another advantage of Solana is its use of a new technology called “Tower BFT” which allows it to maintain a high level of decentralization while still achieving high performance. This technology allows Solana to maintain a large number of validators on the network, ensuring that it is more resistant to centralization and 51% attacks.

Solana’s Ecosystem and Partnerships

The Solana team is actively working on the development of the network and its ecosystem, and has already attracted a number of high-profile partners such as Chainlink, Serum, and Band Protocol. The network has also been used in several decentralized finance (DeFi) projects, such as the Serum decentralized exchange.

Use cases: Solana in DeFi and Gaming

Solana’s high throughput and low latency make it ideal for decentralized finance (DeFi) and gaming applications. The network’s fast confirmation times and low fees make it ideal for decentralized exchanges and prediction markets, while its high throughput makes it ideal for gaming applications that require fast and inexpensive transactions.

Conclusion: The Future of Solana

Solana has a bright future ahead. It’s a high-performance blockchain that aims to enable faster and more scalable decentralized applications. Its unique consensus algorithm, high throughput, low latency, and low fees make it an attractive option for various decentralized applications.

Disclaimer: Cryptocurrency market is highly volatile

It is worth noting that the cryptocurrency market is highly volatile and its future is uncertain. It is important to do your own research before making any investments, and never invest more than you can afford to lose.

Filed Under: Alt Coin Projects

Could API3 Become The New Chainlink?

December 5, 2020 By cryptoxray Leave a Comment

Could API3 Become The New Chainlink?

What is an API?

API stands for Application Programming Interface. APIs may be utilised by online companies, such as eBay, Google, Facebook and millions of other online companies to openly provide tools for developers who need to create applications based on their technologies. APIs may also be used for sharing or embedding content from other internet sources, such as data feeds. Developers and software engineers can easily insert APIs into their code to greatly increase the time it takes to develop complex applications.

So, what is the problem?

Most existing APIs at the time of writing however, are not compatible with the blockchain and decentralised applications and herein lies the problem. This problem has been referred to as “The Oracle Problem”.

The oracle solution

Enter a company called API3, the oracle solution provider. API3 design oracle protocol and oracle nodes specifically for each API provider directly, without the need for a third-party operator. 

API3 have come up with a solution to this oracle problem, with an API gateway to the blockchain called Airnode. Airnode, once set up for the API provider, will continue to run without further configuration or maintenance – “It will sustain itself until it is taken down”, says Burak Benligiray on the official API3 medium website.

Taking out the middlemen from the supplied data chain, eliminates possible tampering or denials of service, also making the supplied data less vulnerable to attacks.

Team

The guys behind API3 used to run some of the top oracle feeds and nodes with Chainlink, so are well experienced in the oracle space. During their time supporting oracles feeds at Chainlink, they noticed some short comings with the third party oracle solution and aim to improve upon that with API3.

API3 Tokens

API3 launched their tokens at the end of November. There is a maximum supply of 100,000,000 and the current market cap is $45,679,210. Just for comparison, Chainlink’s market cap, who are also in the oracle space, is currently $5.2 billion. It is unlikely that API3 will take Chainlink’s crown in the oracle space, but there is significant room for growth. API3 has some signifiant partners with deep pockets, such as Pantera and Digital Currency Group. The tokens are currently trading at $2.40

Filed Under: Alt Coin Projects

Share Ring Partners with Tencent

November 17, 2020 By cryptoxray Leave a Comment

Share Ring Partners with Tencent

One of the trending areas of crypto right now is how to identify customers without having to access or hold on to their personal details. From a customer’s point of view, this provides peace of mind. Quite rightly, customers feel uncomfortable with sending copies of passports, driving licenses, bank statements or utility bills across the internet. We’ve all heard of company databases being hacked over the last few years and customer details being stolen by criminals and used to commit fraud. 

Share Ring have developed an identity management system called ShareRingID, which is immutable, highly secure and infinitely scalable. The ShareRingID module allows companies to verify the customer’s identity, without requiring their personal details or credentials.

The customer or end user only ever needs to complete the ID process once and none of the personal data is stored in the ShareRing Ecosystem.

Tencent Partnership

On 17th November, Share Ring announced that they have been partnering with Tencent, a Chinese multinational technology company, based in Shenzhen. Tencent is the world’s largest video game vendor with huge social media offerings, which include Tencent QQ and WeChat. Tencent currently have a market cap of $737.8 Billion USD, so they are an extremely well capitalised company. 

Share Ring currently operates in several areas, which include travel industry, aviation, finance, banking, government, logistics and transportation. The partnership with Tencent will expose the company to potentially millions of new users. 

The Share Ring App should be released in December 2020.

Website

https://sharering.network/share-token.html

https://t.me/ShareRing

Share Ring Tokens

Share Ring (SHR) tokens are currently available from https://www.kucoin.com exchange

Tweets by ShareRingCo

Filed Under: Alt Coin Projects

Celsius Network Crypto Review

November 9, 2020 By cryptoxray Leave a Comment

Celsius Network Crypto

Celsius Network Crypto Review

Celsius network is a kind of bank for crypto, who pride themselves on their ethical behaviour and curated services. You can find their website here https://celsius.network

The network offers lightning fast transactions, zero fees and fair rates of interest. Currently Celsius have processed $8.2B in loans, have over 215K active users and have over $1.5B in community assets.

Celsius have their own token called Celsius Network (CEL). Account holders who opt to be paid their weekly rewards in CEL, can earn up to 30% more rewards on all deposits of non-CEL coins.

CEL tokens give you access to higher rates on earnings and lower rates on loans.

Deposits

There are different tiers of reward programs for your deposits, Bronze, Silver, Gold and Platinum. The larger the percent of your holdings that are CEL tokens, the greater the rewards. For example, at the time of writing, if you have over 20% of your holdings in CEL, you will be in the Platinum loyalty tier.

Platinum loyalty holders receive 30% bonus rewards and 30% loan interest discount.

At the other end of the scale, customers with 5% – 10 % holdings of CEL tokens, qualify for the Bronze loyalty tier, and receive bonus rewards of 5% and a loan interest discount of 5%.

Celsius share up to 80% of their revenue with the Celsius community in the form of weekly rewards – up to 10% for everyone. The total token supply of CEL is 695,658,161.

A Celsius app is available to download from the Apple App store or Google Play. From the app, you can send transactions, receive payments and view your accounts details.

Loans

You can apply for loans within minutes from the app, but you need to hold collateral with Celsius to qualify. Interest rates are from 1% APR.

For example, at the time of writing a $500 loan over 6 months would cost $1.75 in total interest, but you would need 4.4051 ETH in collateral to qualify. No credit check is required.

Obviously if you hold Celsius tokens, you can benefit from any price increase in the tokens although these could go down in value as well.

The loan service provided could be very useful for existing crypto holders who would like to speculate on other cryptos, without selling their holdings.

You can deposit your crypto with Celsius to earn interest – current example rates of APR are: Ethereum 7.21%, Bitcoin 5.9%, Celsius 5.12%.

Use the calculator at https://celsius.network/earn-rewards-on-your-crypto/ to find the rate of interest paid out for each crypto over the term of your choice.

Filed Under: Alt Coin Projects

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Similar Posts

  • The Ultimate Guide to Crypto: From Bitcoin to Altcoins
  • Solana: The High-Speed Blockchain Network
  • Could API3 Become The New Chainlink?
  • Share Ring Partners with Tencent
  • Celsius Network Crypto Review
  • HEX – Is This The Biggest Pump & Dump in Crypto Ever?

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