Since the idea of cryptos began to gain a foothold in global financial markets and regional economies, people have talked about its ultimate value and usefulness. Any crypto enthusiast or expert would tell you that it is the future, but proponents of the traditional system would say that it is a passing fancy.
In the last 2 years, two incidents have both validated and disproved these perspectives: the COVID-19 pandemic and the consequent near-global lockdown protocol, and the war in Ukraine. The former is mostly behind us but the latter is right in front of our noses. Even so, both experiences show us that the traditional financial system is inconsistent, inadequate, and imperfect. Enter the crypto industry and the volley of advantages that it has brought—is bringing and will bring—to the table. The prospect of absolute decentralization and value distribution (such that there is no longer distinction in value with regard to regional (fiat) currencies) is exciting enough reason to make progressive minds jump at the technology.
So, with COVID-19 (hopefully) behind us and the war in Ukraine in view, what has changed about the crypto industry? Are we seeing a future free of invasions due to the proliferation of crypto assets and regulations? Should we expect further applications of the blockchain vision such that the social and economic aspects of our lives are better stimulated for safety and satisfaction?
This article does not dare provide answers to these questions. However, we dare to make informed speculations about how the war in Ukraine has affected the crypto industry, especially with reference to regional and global acceptance and usage.
The war in Ukraine has opened a lot of eyes regarding the way that national economies work. For a long time now, there has been talk of economic sustainability, the kind of safe haven that a government should be able to give its people so that they don’t have to fall back on milking their natural environments dry. Trade would be global, all nations would have a seat at the round table, and the earth would invariably have one big happy human family.
The war in Ukraine has taught us that this dream has several implications. For one, as a government or government representative, you should not expect that you would be able to do whatever you want to the people of your country. More than that, you should not fantasize about telling someone else how to run their country. If you do, you would be slammed with sanctions and will have no other choice but to bow your head.
This is the reality to be expected of social and economic sustainability: a universal consciousness of accepted conduct and norms. We are halfway there, which is why Russia could be excluded from the global cake of economic benefits when they decided to invade another country and start a war.
As of right now, many global financial markets have seen it fit to rob Russia of transaction rights. Economic and employment networks, particularly freelance, have also shut their doors on Russians as a way to express displeasure at the way things are running.
This is the real face of an economic sanction, and it means that the offending party, in this case, Russia, would receive scorn and contempt from the rest of the world. On the other hand, the aggrieved party, in this case, Ukraine, would receive as much love and support as the rest of the world can bundle up and send across.
Before President Putin ordered the invasion of Ukraine, crypto assets were still viewed with reservation. This reservation came from the fact that the industry did not appear to create, collect, or consolidate value. Instead, cryptocurrencies, especially, were classified as ‘pretend money’ as if the value was created from thin air.
Even the perceived value of the crypto industry that came from public contracts and understanding always came under attack. It also did not help that the price of even the most standard of cryptocurrencies like Bitcoin and Ethereum experienced significant volatility. One thing that crypto traders had going for them, even now, is the opportunity for individual wealth creation that came with the industry. You can invest $100 in a crypto project today, and get $1,000 in return after just 10 days.
Of course, crypto exchange platforms have always been emphasizing the fact that the idea of decentralized finance (DeFi) is beyond ‘mere’ wealth creation. Transaction speed and inter-border penetration, among others, were promoted as even more important gains to be had from making cryptos a mainstream thing. Somehow, the war in Ukraine has accentuated the other advantages of having crypto assets and currencies as legitimate assets and currencies. More governments are considering developing frameworks that do not restrict—but amplify—the various offerings of blockchains.
Once, the mere mention of DeFi made governments livid. Now, concepts like centralized finance (CeFi) and centralized decentralized finance (CeDeFi) are gaining traction.
The various sanctions on Russia’s integration with the global economy have led to an increase in the attention paid to cryptos. As any committed crypto community member would tell you, virtual currencies are not limited to places, so the barriers of physical distances are nullified.
This is why even though Ukrainians are not able to leave their country, they are still able to transact and exchange with other people. It is the same with the internet of information: Russians can still post stuff online and we can chat with them. Virtual currencies operate the same way.
So, when there is a lockdown on fiat currencies due to the war, what do you think happens with virtual currencies, cryptos especially?
Interests in cryptos and the crypto industry have ballooned significantly. But that is not a surprise. Faced with a proverbial Wall of China around Ukraine, the only way the invaded people can receive financial help is via something that is intangible and invisible, but valuable enough to overturn the situation—or at least soften the blows.
The way blockchains operate, it is not difficult to design projects and tokens that are specifically aimed at relieving the suffering in Ukraine. As the concept of blockchain is incomplete with transparency, the lack of trust that is generally inseparable from traditional fund-raising methods (e.g., crowdfunding) does not exist.
As we have seen from the number of people that donated generously to the efforts to alleviate the distress in Ukraine, people are more open to sharing their wealth as long as they know that it is for a good cause. According to CNBC, more than $50 million has been raised so far, and the meter is still counting.
There is no serious black market for cryptos, at least, none that an entire country can rely on for long. Therefore, once a nation has been sanctioned, it would not be able to access the opportunities afforded by the crypto industry. As a result, nations are warming up to themselves so that they don’t have to throw their hats in the ring and be subject to sanctions. Now that it is globally acknowledged that the crypto industry has roots all over the world’s financial structure, the ease at which sanctions can be placed on a country’s economy has grown significantly. This means that tyrannical nations have to think twice before abusing their people or neighbors.
Consider Russia, for instance. Once it was decided that President Vladimir Putin had gone too far in his actions, the big platforms for crypto exchanges were called upon to help reduce the tension. When these platforms were done, Russian accounts were frozen so that the people of Russia with crypto assets could no longer use them.
Of course, the freezing of crypto assets was done with a lot of reservation. Such a move is not in the original protocol of the industry. After all, freedom and anonymity are fundamental components of the blockchain system and allow the infrastructure to run in such a way that the interests of individuals who are part of the system are protected.
There is still a lot of discussion about whether the freezing of Russian crypto accounts has crossed the line of autonomy written into the very fabric of blockchains. Even diehard decentralists (crypto traders, investors, and enthusiasts calling for the full decentralization of the crypto industry) have made concessions regarding the uniqueness of this situation. War allows the existence of a lot of gray areas, and we know.
As the war rages on and more interests are drawn in, the value of cryptos has fluctuated time and again. However, this time, it was different from the volatility that arrived with NFTs (non-fungible tokens), for instance.
Bitcoin fell below $35,000 immediately after Russia invaded Ukraine, and Ethereum soon followed suit by falling below $2,400. Although both cryptos have long since returned to their peak, analysts have reported that the cryptos industry is seeing a lot of vested interests. More individuals are willing to complement fiat assets with crypto assets, and more corporate entities are willing to redesign their financial structures to better fit into the expanding crypto industry. Provided that there are no surprises in the next few months, we all expect even more favorable odds for cryptos, especially in the form of public acceptance, approval, and endorsement.
The advantages of this increasingly positive view of the crypto industry are clear. Crypto assets and tokens will become even more legitimized forms of exchange and value investment than before. Also, thanks to token standards, it is not infinitely easier to build tokens on the Binance Smart Chain (BNB), the Ethereum Virtual Machine (EVM), Solana (SOL), and others like this.
For crypto traders that came onboard the ship after Russia’s invasion of Ukraine, the lines of crypto acceptance were not always this straightforward.
Crypto is no longer the outcast in global finance mechanics. National efforts toward integrating decentralization protocols and implementing some of these innovative designs are increasing daily. For the individual, the benefits are numerous and dense, such that a lifetime of opportunities for wealth creation and stability is possible.
The thing is, we cannot predict to a tee how the crypto market might be impacted by crypto. We know that there is going to be some impact, but in which direction? Should we expect Euro-type tokens, the type of crypto assets that are not universally available but only to a select few for their protection? Or should we expect more crypto universality, in which case cryptocurrencies will be getting more time in the sun? But as you can see with both possibilities, the crypto industry will grow.
We can expect that the crypto industry will become more universal after the war in Ukraine. The donations to Ukraine showed us that cryptos are not affected by regional differences, and risk exposures of foreign exchange do not apply. Thus, we expect that many more individuals, corporate entities, and constitutional governments will see reasons to adopt the crypto market.
Ukraine itself has already implemented policies that will take off once the strings of war have been properly tied. Even the EU (European Union) has begun applying a framework for the crypto market and crypto trading. We can expect more of these national measures to retrofit blockchain architectures to accommodate core financial policies. This will not only be limited to developed nations and economies but also their developing counterparts.
So far, only the most exclusive industries (e.g., fashion—and luxury fashion at that) have utterly taken up cryptos. We expect this margin of sector operation to widen significantly. Cryptos will become integral elements in manufacturing, transportation, sports, and many other industries and sectors.
The tangent of financial and economic evolution is shifting in favor of the crypto industry. So, there are bound to be more and more and more applications of crypto around. The once-defined ‘pretend value’ of the industry has already crystallized into tangible benefits, thanks to the war in Ukraine.
In a fragmented regulatory landscape, the Markets in Crypto-Assets (MiCA) regulation emerges as a beacon of standardization and security. The European Union's pioneering approach to crypto regulation, embodied in MiCA, sets a precedent for the global crypto market. MiCA isn't just another regulatory hurdle; it's a transformative framework that promises to bring clarity and confidence to both crypto businesses and investors. As we delve into this comprehensive guide, we'll uncover the intricacies of MiCA, illuminating the path for businesses striving to navigate this new regulatory landscape.
The MiCA crypto regulation is tailored to encompass the broad spectrum of crypto-assets, excluding only those classified as financial instruments under existing EU legislation. This inclusivity marks MiCA as a comprehensive framework, addressing a range of assets from stablecoins to utility tokens. The regulation aims to establish uniform rules across all EU member states, effectively eliminating the regulatory patchwork that currently complicates the crypto market.
The heart of MiCA revolves around consumer protection, market integrity, and financial stability. By introducing a standardized set of rules, MiCA crypto regulation ensures a safer environment for investors, shielding them from the market's volatility and the potential risks associated with digital asset investments. For crypto businesses, this translates to a more predictable and secure operating environment.
Navigating the licensing landscape under MiCA requires a deep understanding of its requisites. Primarily, any crypto company operating within the EU must be fully licensed and compliant with MiCA standards. This includes a broad spectrum of entities from crypto exchanges to wallet providers.
The licensing process under MiCA is meticulous and requires companies to demonstrate a high level of operational and financial robustness. Key elements include robust IT infrastructure, stringent AML (Anti-Money Laundering) policies, and comprehensive risk management frameworks. These requirements are not just formalities; they are essential to ensuring that companies can withstand the volatile nature of the crypto market and protect their clients' investments.
Here is a breakdown of the requirements and standards for obtaining a MiCA crypto license:
These steps outline the structured approach to obtaining a MiCA license, focusing on compliance, transparency, and the integrity of the applicant.Top of Form Each step in this process is crucial for obtaining and maintaining a MiCA crypto license. It's important for companies to approach each stage with thorough preparation and a commitment to maintaining high standards of compliance.Top of Form
MiCA's licensing requirements are designed to foster a transparent, fair, and stable crypto market in the EU. For a crypto-fiat bank like Kyrrex, complying with these regulations is a testament to its commitment to providing secure and compliant crypto services. Kyrrex's alignment with MiCA regulations showcases its dedication to maintaining the highest standards of operational integrity and customer protection.
Here's a general list of the types of companies and businesses that the MiCA licensing requirement covers:
Compliance with MiCA presents a unique set of challenges for crypto companies. Adapting to a new regulatory environment requires significant changes in operational, legal, and compliance structures. The primary challenge lies in the constant evolution of the crypto market, which demands that companies remain agile and informed.
To overcome these challenges, companies should implement a number of constructive measures, especially the ones outlined below:
Each of these steps plays a crucial role in ensuring that a company meets the MiCA compliance requirements. By adopting a proactive approach, companies can turn these challenges into opportunities for growth and market leadership.
For Kyrrex, adhering to MiCA standards is part of its broader strategy to ensure the highest level of service quality and security. It reflects the company's dedication to being at the forefront of regulatory compliance, setting a benchmark for other players in the industry.
As MiCA paves the way for a regulated crypto market in the EU, companies need to prepare for its implementation. The first step is gaining a thorough understanding of MiCA's provisions and how they impact different aspects of crypto operations.
Crypto companies should start by assessing their current compliance status and identifying areas that need improvement. This may involve restructuring certain business practices, enhancing security measures, and updating internal policies.
It's also crucial for companies to stay updated with ongoing regulatory developments. Engaging with legal and compliance experts can provide valuable insights and ensure that companies remain on the right side of these evolving regulations.
MiCA marks a significant milestone in the journey towards a regulated and secure crypto market. For companies operating in this space, understanding and complying with MiCA is not just about adherence to regulations; it's about embracing a new era of transparency, security, and consumer trust.
Are you intrigued by the world of cryptocurrency trading and its potential for lucrative returns? If so, obtaining a crypto trader certificate can open doors to exciting opportunities and help you stand out in this competitive industry. In this blog post, we’ll guide you through the process of “how to earn crypto trader certificate”, discuss the benefits and types of certifications, and provide insights on top certification programs. Let’s embark on this journey to become a certified crypto trader and unlock new possibilities in the dynamic world of digital assets.
Crypto trader certifications are designed to equip professionals with the knowledge and skills needed to excel in the cryptocurrency trading landscape. They typically focus on trading strategies, market analysis, and risk management techniques, ensuring that certified traders are well-versed in the fundamentals of cryptocurrency and its associated market dynamics.
Certifications not only provide a competitive edge in the job market, but also help individuals make informed decisions when trading cryptocurrencies. Renowned certification programs, such as the Blockchain Council and the Cryptocurrency Certification Consortium, are recognized worldwide and cater to various cryptocurrency transactions and trading activities.
Crypto trader certificates cater to different levels of expertise and focus on specific aspects of cryptocurrency trading. For instance, some certifications may concentrate on blockchain technology, while others may emphasize cryptocurrency trading strategies or risk management.
Moreover, certain programs offer specialized courses tailored to a particular programming language or developer specialization, such as smart contracts or decentralized applications. When selecting a certification program, identifying your goals and desired area of expertise is key to ensuring a comprehensive learning experience that aligns with your objectives.
Earning a crypto trader certificate comes with numerous benefits. Increased credibility and recognition in the cryptocurrency industry are significant advantages, as certified traders demonstrate their expertise and capabilities.
Furthermore, a crypto trader certificate can unlock new career prospects and provide valuable networking opportunities with industry leaders and fellow traders. Obtaining a certificate can be a stepping stone towards a successful career in cryptocurrency trading, especially as the cryptocurrency market continues to evolve, necessitating up-to-date knowledge on the latest trends and best practices.
The journey to becoming a certified crypto trader involves several steps. Firstly, you must select the right certification program based on your goals, experience, and desired area of expertise within cryptocurrency trading. Before making a decision, consideration should be given to the program’s reputation, cost, and the type of certificate it offers.
Next, you must prepare for the certification exam by taking relevant courses, attending workshops, and gaining practical experience in cryptocurrency trading. Finally, you need to successfully pass the certification exam to demonstrate your proficiency in cryptocurrency trading and earn the coveted crypto trader certificate.
When selecting a certification program, it is important to consider factors such as the program’s objectives, your background, and your desired field of expertise in cryptocurrency trading. Some popular certification programs include the Blockchain Council Certified Crypto Trader (BCCT) and the Certified Crypto Trader (C4), which provide comprehensive knowledge of cryptocurrency trading and investing.
Keep in mind that the certification process usually involves a cost, and financial aid may not be available for non-degree programs or individual courses. Therefore, it is essential to weigh the potential benefits of the certification against the costs and choose a program that suits your needs and budget.
Preparing adequately for the certification exam is of utmost importance. This involves reviewing the material covered in your chosen program, practicing with sample questions, and becoming familiar with the exam format.
Additionally, it is beneficial to gain practical experience in cryptocurrency trading, financial trading, stock markets, and managing digital assets by engaging in simulated trading activities provided by some cryptocurrency exchanges or utilizing demo accounts or paper trading platforms.
In the ever-evolving cryptocurrency trading landscape, continuing education and professional development remain pivotal. Enrolling in advanced courses and workshops, attending conferences, and staying updated on industry trends can help you maintain your expertise and stay ahead of the curve.
The format of the Crypto Trader Certification Exam may differ depending on the organization providing the certification. It may include multiple-choice and true/false questions, as well as multiple select questions. The number of questions can range from 30 to 100, and the duration of the exam can range from 20 minutes to several hours. Reviewing the details of the certification exam you are interested in is of prime importance.
To pass the certification exam, you must be adequately prepared and knowledgeable in the topics included in the exam. This involves reading the instructions carefully and answering the questions accurately. Successfully passing the exam demonstrates your proficiency in cryptocurrency trading and earns you the crypto trader certificate.
Several top crypto trader certification programs offer comprehensive and industry-recognized certifications. These programs, such as the Blockchain Council and C4, provide in-depth knowledge of cryptocurrency trading, blockchain technology, and digital currency trends.
Each certification program caters to different aspects of cryptocurrency trading and technology, ensuring that there is a suitable option for everyone, regardless of their experience level or area of interest. In the following sections, we will delve into the details of some of the most popular certification programs.
The Blockchain Council offers the Certified Cryptocurrency TraderTM (CCT) certification, which covers the following topics:
This comprehensive certification program provides a solid foundation for both beginners and experienced traders, helping them gain the necessary skills and knowledge to excel in the cryptocurrency trading landscape. With the CCT certification, traders can showcase their expertise and capabilities, giving them a competitive edge in the industry.
C4, or the Cryptocurrency Certification Consortium, offers various certifications catering to different aspects of cryptocurrency trading and technology. The Certified Bitcoin Professional (CBP) certification evaluates professionals’ understanding of cryptocurrency trading and investing, while the Certified Ethereum Developer (CED) certification assesses professionals’ knowledge of Ethereum development.
These certifications not only provide credibility and recognition in the cryptocurrency industry, but also unlock new career prospects and networking opportunities. Pursuing a C4 certification can be an excellent investment for those looking to advance their career in the rapidly evolving world of cryptocurrencies.
In addition to the Blockchain Council and C4 certification programs, there are other notable certification programs that offer specialized courses and certifications in areas such as blockchain development, security, and compliance, as well as blockchain technologies. Examples include the Cryptocurrency Certification Program from MIT and the Certified Cryptocurrency Trader (CCT) certification by the Blockchain Council.
These programs provide comprehensive education and certifications in various aspects of cryptocurrency trading and technology, ensuring that there is a suitable option for every aspiring crypto trader. No matter your experience level or area of interest, there is a certification program designed to help you succeed in the world of cryptocurrency trading.
As a certified crypto trader, continually improving your trading skills and staying updated on the latest industry trends and best practices is key. This involves taking advanced courses and workshops, as well as engaging in networking and community involvement.
By actively participating in the crypto trading community and staying informed about new developments in the crypto markets, you can refine your trading strategies, identify market opportunities, and ultimately, achieve greater success in your trading endeavors.
Advanced cryptocurrency courses and workshops provide in-depth knowledge and practical skills in specific areas of cryptocurrency trading, such as algorithmic trading and technical analysis. Understanding cryptocurrency fundamentals is crucial for success in this field. For example, Udemy’s Algorithmic Cryptocurrency Trading course consists of 2.5 hours of on-demand video, one article, and 13 downloadable resources, offering a comprehensive learning experience for traders looking to enhance their skills.
Participating in advanced courses and workshops can offer several benefits.
These opportunities in decentralized finance can help you stay ahead in the ever-evolving world of crypto trading.
Staying informed about the latest developments in the cryptocurrency trading industry and sharing knowledge with fellow traders is greatly facilitated by networking and community involvement. Some popular resources for networking and community involvement include:
To effectively utilize networking and community resources, it is essential to be actively engaged. This includes participating in conversations, inquiring about relevant topics, and contributing your expertise. By connecting with industry professionals and staying informed about the latest trends, you can continuously improve your trading performance and achieve greater success in the crypto trading landscape.
To demonstrate your continued professional development and expertise in cryptocurrency trading, maintaining and renewing your crypto trader certificate is vital. This involves meeting recertification requirements, which typically vary depending on the certification program.
Engaging in ongoing professional development, in addition to meeting recertification requirements, is key to staying current in the rapidly evolving cryptocurrency trading landscape. This includes attending conferences and workshops, participating in relevant online forums and communities, and staying updated on industry trends and best practices.
Recertification requirements vary depending on the certification program, but typically involve:
It is essential to refer to the specific certifying organization for detailed requirements to ensure you are fulfilling all the necessary requirements for maintaining and renewing your Crypto Trader Certificate.
Ongoing professional development plays a critical role in staying up-to-date with the latest trends and advancements in the crypto trading domain. This includes:
Additionally, attending conferences and workshops can provide valuable insights into the latest trends and advancements in the crypto trading industry, as well as networking opportunities with other traders and industry professionals. By staying informed and actively participating in the crypto trading community, you can continue to hone your skills and excel in your trading endeavors.
In conclusion, earning a crypto trader certificate can provide you with the knowledge and skills needed to excel in the dynamic world of cryptocurrency trading. By selecting the right certification program, preparing for the exam, and staying updated on industry trends and best practices, you can unlock new career prospects and achieve success in this exciting domain. So, are you ready to embark on the journey to becoming a certified crypto trader and unlock the doors to new opportunities?
To be a successful crypto trader, you need both technical and analytical skills, as well as knowledge of the cryptocurrency industry. You should have good communication skills, be able to develop strategies and be comfortable with risks.
Yes, you need a license to be a crypto trader as crypto businesses and exchanges need one to comply with relevant laws and regulations, establish customer trust, and expand their services.
This license is necessary to ensure that the crypto business is operating legally and ethically, and that customers are protected from any potential fraud or manipulation. It also helps to build trust in the crypto industry, as customers can be sure that the business is legitimate and trustworthy.
Yes, there are certifications for cryptocurrency, such as the Cryptocurrency Certification Consortium (C4) and the Certified Cryptocurrency ExpertTM (CCE).
These certifications provide users with unbiased education and training on cryptocurrencies to help them negotiate the space safely.
Malta is considered the easiest place to get a crypto license, as it has a favorable regulatory environment and was one of the first to adopt regulations for blockchain and cryptocurrencies.
Additionally, it offers several advantages such as tax breaks and easy licensing.
A crypto trader certificate provides enhanced credibility, better job opportunities and a network of industry contacts, making it an attractive prospect for crypto traders.
Kyrrex is happy to announce the next joint project with Vireye. This collaboration aims to redefine the gaming economy by integrating cutting-edge crypto technologies and modern play-to-earn concepts. Kyrrex will facilitate the first withdrawal of tokens within HamstaParty, a casual competitive game designed to elevate the overall experience. The synergy between Kyrrex's secure and efficient crypto platform and Vireye's vision for a dynamic ecosystem creates an unprecedented opportunity for gamers.
Unique Experience for Everyone
HamstaParty is a fun journey into the vibrant Hamsta World. This game offers a diverse range of activities suitable for all ages. Set in a bustling hamster town, players can customize their adorable characters with unique skins, adding a personalized touch to their experience.
Each HamstaParty match is a quick and engaging burst of excitement, lasting under 90 seconds. The game's simplicity and intuitive design, coupled with a fresh approach to prize distribution, ensure that every player has an equal chance to win. Vireye is rapidly expanding the number of mini-games. The current roster includes HamsterRunner and HamstaDodger, with two additional games, Hamsta Jumper and Hamsta Grounds, set for release by early 2024.
Try 'Fun and Earn' with Kyrrex
HamstaParty's mission revolves around the concept of 'Fun and Earn.' Initially, players enjoy a well-spent time, victories in collecting Golden Beans, and unique character customization. Over time, this evolves into a compelling source of earnings. At the core of HamstaParty is its unique currency ecosystem, featuring Beans and Golden Beans:
Developers create an infrastructure that allows players to exchange Golden Beans for partner project tokens. Now is the opportune moment to become an Early Bird and join the game as it gradually builds its audience. Players can play and earn Golden Beans through various in-game activities, turning it into an exciting play-to-earn venture.
Obtaining Golden Beans is possible through daily bonuses, winning duels, competitions, community participation, testing, and completing special tasks. The first withdrawal of Golden Beans to partner tokens is imminent, facilitated by Kyrrex, with the drop costing $5,000, open to all participants. Negotiations are underway to enable the future exchange of Golden Beans for KRRX tokens without restrictions.
Stay tuned for more information about HamstaParty! Follow Kyrrex on social media to get the latest news about its projects! Join Discord.