Meta Universe: Virtual Gaming, NFTs and the Currency Question

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Blockchain technology is the gift that keeps on giving. The original goal was simple: a fast and censorless way to digitally transfer value from person to person.

Soon, it became clear that the blockchain is the window to a brave new world of decentralized innovations. Smart contracts followed, along with the ability to issue new tokens on an existing blockchain's protocol.

So far so good, but what really took things to a whole new level were NFTs, or non-fungible tokens. These tokens represent ownership of a physical, digital or virtual asset and each one is unique and cryptographically distinguishable. An NFT can stand for virtually anything—property, a meme, an activity, art, you name it.

NFTs became the anchors for virtual gaming on the blockchain. Blockchain-based games, in their various guises, use NFTs as in-game characters, land, loot, weapons, cards, and other game assets.

The latest games using Web 3.0 technology like Axie Infinity, CryoWar and Star Atlas, blend the current trends in blockchain—DeFi, DAOs, NFTs—with traditional gaming to create fully-developed play-to-earn experiences for digital natives.

This synthesis of gaming elements with core cryptocurrency mechanics defines what is now known as GameFi. GameFi are crypto games with some kind of token economics. Players earn in-game currency as they progress and can convert their winnings to other cryptocurrencies. They can also trade, rent or exchange their assets with other players, depending on the game.

The Metaverse

Just like online games are merely one aspect of the overall Internet experience, GameFi is just one segment of the new virtual world powered by blockchain. A crypto game like Mines of Dalarnia creates an action-adventure universe where players can fight enemies, mine new weapons and gear and farm collectibles. But what if you can do other things, besides gaming, in this virtual world?

Welcome to the metaverse.

The Next Big Thing in Crypto?

The metaverse is a catch-all term for the proposed next stage of the internet. It is, or will be, a fusion of web 3.0, distributed ledger technology, decentralized virtual ownership, and financialized virtual worlds. It is a space shared by all the newest virtual worlds, and accessible through VR headsets, AR glasses, smartphones, PCs, and game consoles.

The crypto metaverse is a persistent 3D environment that mirrors reality up to the limits of the specific platform. You can create an online identity unique to yourself alone. You can acquire the NFT metaverse platform's main asset and keep, share, loan or display it as you see fit. Different metaverse platforms have different mechanics but they all obey one central axiom: decentralized ownership of assets.

Metaverse is a hot cake in the industry right now. Many metaverse-affiliated crypto tokens have seen stupendous rises in the fourth quarter of 2021. AXS (Axie Infinity), SAND (The Sandbox), GALA (Gala Games), MANA (Decentraland), ETERNAL (CryptoMines), MBOX (Mobox) and PYR (Vulcan Forged) witnessed hefty increases in valuation as new platforms exit beta and fresh investors jumped on the virtual world bandwagon.

Even traditional tech giants don't want to miss out on the fun. Facebook recently changed its name to Meta, underlying its ambition to become a key player in, if not dominate, this emerging sector. Not to be left out, Microsoft is making plans to join the virtual world revolution.

Though GameFi is currently the most prominent iteration of the metaverse NFT experience, it's in fact a relatively recent development. A brief look at one of the earliest NFT metaverses will clarify the concept.

The Example of Decentraland

Decentraland is a virtual reality universe that pioneered the blockchain-based metaverse concept. It uses distributed ledger technology to operate a 3D virtual environment. As the name suggests, it's a decentralized platform that sells land. Users can buy plots of land and do whatever they want with it. They can treat it as investment, wait till the value of the land appreciates, and sell it off. They could also develop any kind of property on it and rent the property out while retaining ownership of the land.

Transactions on Decentraland utilize the native metaverse token, MANA, which is based on the Ethereum Network. As the metaverse hype reached its Zenith in 2020-21, the value of MANA has increased by more than 500%. The same goes for the valuation of real estate in Decentraland. Prices have skyrocketed by more than 5000% since parcels of land first went up for sale in 2017.

Metaverse Mechanics

Metaverse Mechanics

Metaverse is a portmanteau of Meta and Universe. As currently understood in the crypto space, the metaverse democratizes the virtual experience and broadens access to gaming, social and other worlds for the ordinary user.

Even though the metaverse is still in its infancy, the broader concepts that all NFT metaverse platforms operate by have been fairly well established. Let's go over some of the features of the next generation of the blockchain revolution, especially compared to real-life practices.

Metaverse Currency

Metaverse Currency

What is a metaverse currency, you might wonder. Simply put, it's the in-world currency for a virtual platform. In the blockchain space, this refers to utility tokens of virtual-world platforms.

In the real world, we spend legal tenders on goods and services. We pay value in return for products of equal value. What qualifies as acceptable currency in one country might not be accepted in another.

Things are a bit similar, but also different, in the metaverse. On any specific metaverse platform, there's one single "universe" which all virtual residents belong to. Everyone buys and sells using the utility token of the metaverse. In The Sandbox metaverse, users pay for trades in SAND tokens.

On the other hand, the metaverse shares similarities with the current political system of countries with their different economic models. Despite, or perhaps because of, the centerless nature of NFT-based worlds, each platform has its own rules and tools with little to no crossover.

A user in The Sandbox cannot move their LAND asset over to the Axie Infinity universe. Nor can they purchase assets on Axie with the SAND token. This is so even though both platforms are based on the Ethereum network.

The same restriction applies for cross-chain crossovers. Much like you need to convert your local currency to US dollars to buy stuff in the United States, you must hold the token that a virtual world supports to live, work, relax, perform or play games there.

According to DappRadar which tracks crypto data, there are currently over 1200 blockchain games. Most of them have their own utility tokens which users need to join the in-game world.

Metaverse Growth and Prospects

Metaverse Growth and Prospects

Data from crypto research firm Macro Hive shows that a basket of metaverse coins rallied 37,000% in 2021, an eye-popping increase whichever way you slice it.

Though the basket contained just 5 coins—Axie Infinity, Decentraland, Sandbox, Enjin Coin, and GALA, the findings apply broadly to most serious blockchain-based virtual world tokens.

This implies that the metaverse is only going to keep growing as new technology emerges that brings the world closer to the dream of a fully-realized VR experience. It also signifies investors' confidence in the long-term prospects of decentralized virtual reality innovations.

Everyday, new entrants arrive on the scene as people try to replicate the success of Decentraland and Axie. Though there will assuredly be more duds than success stories, the trajectory keeps moving inexorably in favor of middleman-less mixed-reality experiences.

Can There Be a Single Metaverse?

There is just one single internet but a multitude of websites and online experiences based on it. This seems to be the way the metaverse NFT experience is going. Initially, there was talk of creating a single super virtual universe, where everyone can work, live, and have fun.

The proliferation of different projects, all using the metaverse moniker for hype, makes this a tall order. It's more likely that the current status quo is maintained. Blockchain will remain the backbone for multiple metaworlds with unique selling points for users.

The Holy grail of new virtual worlds would be free movement across the crypto metaverse. This doesn't look feasible anytime soon, because of how the underlying blockchain networks operate. Currently, most distributed ledger networks are not cross-compatible. Transferring tokens across blockchains needs special platforms called bridges.

Perhaps in the future, bridges would be automatically integrated into every metaverse platform. Then users can freely move their avatars and assets across virtual worlds without even thinking about it.

What Will We Spend in the Metaverse?

This looks like a simple question. Of course, we will spend the utility token of each virtual ecosystem. Players in Alien Worlds, for instance, need to obtain the in-world currency, TLM, to acquire and upgrade their crafts.

But this question is worth asking again in a broader and more long-term perspective. The metaverse just isn't about creating virtual social systems, it's also a test case for the enduring utility of cryptocurrencies.

According to Haim Israel, a strategist for Bank of America, the metaverse is where people will really start using crypto as currency. Which begs the question: Which cryptocurrencies?

With most fiat currencies in the world, what you see is what you get. You know what to expect from them, the rough value you can obtain from a unit of the currency. You know that if the value of the money rises or falls, it will do so slowly.

This isn't the case with cryptocurrency tokens. The industry has moved so far away from its original goal as a decentralized payment system (although some coins are still that). Now, most major crypto coins serve another role as investment assets.

Digital currencies in general are just so volatile. They can fall rapidly and rise at unbelievable speeds, to absurd levels. Ideally, a currency is expected to be more or less stable. Hence, there are problems with the existing metaverse payment model.

Take a popular token like SAND. It's current value is in excess of 5 dollars. This is from less than 4 cents at the beginning of the year. As it keeps increasing, the cost for new users to join the Sandbox ecosystem by buying LANDS keeps rising. This can and will discourage many people from joining.

On the other hand, if a bear market strikes and the token takes a sharp fall, the rewards for performing activities on the ecosystem will also reduce in value. This will disincentivize many people from using the platform. Whether the token rises or falls, there's always a catch.

So, to reframe the question, what will we spend in the metaverse in the future? To keep everyone happy, what should we spend?

NFTs as the Metaverse Currency

Can NFTs act as the currency of the metaverse? This scenario is unlikely, for several reasons that should be fairly obvious.

First, NFTs aren't fungible; currency is. A fungible token is divisible, and all equal units are identical. An NFT has cryptographic properties that make it unique from every other NFT out there. Or so goes the theory.

NFTs are also digital representations of something. They're always (audio)visual. They kind of have to be. In contrast, you don't need to actually see money to spend it, whether in the real or virtual world.

We already noted that the lands, avatars, characters, weapons, buildings, and other assets in these virtual worlds are actually NFTs. Now imagine using your land or car as a currency. It would be an absolute nightmare.

Stablecoins to the Rescue

The aforementioned Haim, who is head of global thematic investment strategy at BofA, suggests that some type of stablecoin is needed.

This looks to be the most sensible solution for all. Stablecoins are a type of crypto that mirror the value of a (strong) fiat currency, such as the US dollar.

This type of coin will bring stability to the metaverse. People will know what their rewards for participating in virtual-world activities will be. New entrants will also know how much they need to pay for assets. The value-cost tradeoff will encourage persistent activity. The value of assets can still rise or fall, but more organically than the current system allows.

More importantly, it's easier to use a stablecoin across multiple blockchain networks because of their inherent stability. Hence, this type of crypto can help to unite the various NFT metaverses into one self-sustaining system.

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#Cryptocurrency market
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Kyrrex: Still Transparent, Still Trustworthy

We know that a global economy driven by better models of financial management is possible. We also know that harnessing the power of blockchain technology creates endless possibilities for individual investment, dynamic control of finances, and much more.

In light of recent events, trust in crypto and the limitless opportunities it offers might seem more distant than ever. As serious stakeholders, we want to use this opportunity to reach out to our loyal customers and the general public and assure them that Kyrrex remains unaffected while standing strong as ever.

The FTX Issue

To summarize the problem, FTX mishandled investor funds by using user deposits to make investments of their own. FTX did not inform users before proceeding on this course of action. The funds were used without client consent, meaning that FTX’s ‘side’ investments were unauthorized and therefore illegal.

Gaps and Leakages in the Crypto Industry

The recent spate of crypto setbacks reveal a number of gaps and leakages in decentralized finance. The biggest of these gaps is supervision: what guarantee can you, a crypto trader and investor, have that your preferred trading platform will not mishandle your funds?

In the decentralized market, you have a firmer grasp of your crypto assets and greater freedom to trade and invest without someone looking over your shoulder every time. But this comes with the risk of losing all your money if you entrust it to unsupervised third parties.

Solution with Kyrrex: Crypto-Fiat Banking

Crypto exchange platforms provide you a stage to trade and manage your crypto assets. But who/what keeps an eye on these platforms? Without strict oversight by a powerful body, you're essentially giving your money to an exchange do with as they wish.

Where there is no regulation, there is likely to be mismanagement and exploitation. Even if you can wager your life that an exchange platform is honest and will not mishandle your money, you have to admit that having the platform accountable to a higher authority increases your trust in it.

Turning to a centralized exchange like Kyrrex offers you the rewards of crypto without its major risk.

We believe that it is only when the crypto market is reasonably regulated that the crypto industry can flourish. Then, you will no longer have to deal with rugpull projects, fake developers selling you imaginary bridges in imaginary clouds, or situations like FTX that inevitably cause you to lose trust in every crypto exchange platform.

Kyrrex is Still Trustworthy

Kyrrex, as you know, is the first crypto-fiat bank. The same way we pride ourselves in being the first global bank, we pride ourselves in playing by the rules. There are several governmental and government-backed institutions that oversee our operations, and so we are licensed to operate in good faith. All of this is so that you can rest easy and continue to trust us.

We would like to place on record that Kyrrex Exchange has no dealing with FTX and its FTT token. Our exposure to FTX is zero. The exposure of our customers' funds to FTX is zero.

Here are a handful of reasons you should continue to trust Kyrrex as your crypto and fiat asset partner:

1- Kyrrex has the highest level of operational license in the crypto industry

Kyrrex operates under the Class 4 virtual Finance asset (VFA) License from the Malta Financial service authority (MFA). We obtained this license in November 2021, reinforcing our intentions to comply with every legal requirement and audit condition.

This class of license comes with implicit confidence by the regulatory authority in the licensee. It means that Kyrrex has been thoroughly scrutinized and found to comply with all regulatory rules regarding user deposits and operation models. It means that you can trust us to keep your money safe and secure because Big Brother is watching all our moves.

2- Kyrrex stores and backs your tokens with tangible assets like the dollar

As a crypto-fiat bank, Kyrrex allows you to use crypto tokens as easily as you use fiat currency. So, with Kyrrex you will be able exchange fiat currencies against digital assets and vice versa. This is because your tokens are safely stored and backed with valuable assets.

3- Kyrrex relies on its organic growth model for profitability rather than investors’ funds

At Kyrrex, we promote and use an organic growth model. This means that apart from the charges that our clients are aware of, we don’t touch their deposits or funds. This is another reason we have regulators overseeing our operations. They keep us on our toes and make sure our operations are always prudent and compliant with all legal provisions.

4- Kyrrex has a straightforward user withdrawal protocol

Kyrrex has always favored an uncomplicated and user-friendly operating protocol. Our withdrawal system is like this also. So, our clients do not need to read and sign thousands of pages of T&A before they can withdraw their funds from Kyrrex. Everything is clear and transparent. Your funds are your funds and you can withdraw them at anytime.

5- Kyrrex is not exposed to FTX, Alameda, or any institution implicated in the current FTX fiasco

Kyrrex is not exposed to FTX, Alameda Research, or any other crypto-related institution that has been implicated in the recent mess. So you can trust us unreservedly, we only build relationships with time-tested, reliable, and/or regulated exchanges.

So, Kyrrex remains worthy of your trust. However, we advise that when you use other exchange platforms, ensure that they are licensed and are committed to playing by the rules. Also, do not invest money that is not your own or spend more than you earn. If you can, avoid tokens that are not backed by tangible assets.

#Cryptocurrency market
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Ways to Protect Your Privacy in Crypto

The crypto-verse has moved from the first stage of foundation-building and establishment. Virtually every developed and developing nation in the world today has a share in the global crypto pie. As a result, the current crypto era is all about innovation and the adaptation of blockchain solutions to a variety of old and new problems. But, the crypto industry has to overcome some of the present hurdles first, including the rise in regulations and the relegation of user privacy.

Regulations are popping up left and right. Governments are fighting to safeguard their economies from overexposure to criminal elements. However, crypto proponents are also doing their best to ensure that the entire blockchain ecosystem is not criminalized because of some mischievous users. In the meantime, innocent users are lost in the middle, pondering whether anonymity and privacy are still genuine components of crypto.

The crypto industry has an odd relationship with privacy issues. On the one hand, due to the public verifiability of transactions, the movement of money is easily traceable. On the other hand, privacy and confidentiality are core pillars of the crypto-verse. The system is thus balanced since it offers users a variety of ways to maintain their privacy. However, now that more governments are taking more active steps towards streamlining the crypto industry in a way that they can manage, the balance of security and privacy in the system is no longer reliable.

So, to ensure that your crypto assets, investments, and activities are private, here are 5 things you can do.

1- Use Multiple Addresses and Wallets to Receive Payments

The way blockchains operate, anyone who knows your address on the blockchain has automatic access to information that is supposed to be private. Say you want to pay a customer in crypto and exchange addresses. This customer can use any number of tools, including a block explorer, to check your transaction history and find out the size of your crypto pocket.

One of the easiest ways to get out of this situation is to use a new address every time you have to engage in crypto transactions with someone. This helps you spread your activity and asset tracks across a wide range of wallets and addresses. When people look up the address you gave them for a transaction, they will not be able to find out the size of your crypto assets or even the entirety of your transaction history.

You can also be a bit more systematic by using several different wallets at the same time. With each wallet holding a certain amount of your investments and transaction history, you will be able to hide the majority of your crypto activities. This is another reason prominent crypto enthusiasts have accounts with multiple crypto exchange platforms. Each of these platforms serves as a separate bank, so to say, where they can create multiple wallets and use crypto addresses that help them shield their assets and activities from scrutinizing minds.

2- Use Crypto Platforms that Value and Prioritize Privacy

It is a fact that all crypto platforms, decentralized or centralized, are supposed to prioritize user privacy and security. This is because privacy and security are core components of the crypto-verse, ensuring that blockchains are not perpetually vulnerable to malicious break-ins. However, even though crypto exchange platforms are supposed to be user-centric and therefore give precedence to user security and privacy, this is not often the case.

To be fair, crypto platforms cope with many challenges. They have to ensure efficient transactions, deal with verification problems, maintain liquidity pools, and monitor the flow of tokens per time. Even though automated systems are employed for these functions, these systems are not omnipotent. Therefore, the crypto-verse is made up of many crypto platforms that are biased towards one or two of the foundational components of blockchain technology.

So, very few crypto platforms can effectively handle multiple components at the same time and therefore promote all the advantages of using crypto instead of the old system. You should be on the lookout for these innovative platforms because they use novel methods to prioritize user security and privacy.

One such crypto platform is Kyrrex, the innovative digital bank for all things crypto. The platform prioritizes several core crypto components, including security and privacy, transaction speed, trading ease, wide-range online integration, and user access to support. It uses hybrid cryptographic encryption methods to ensure that user data is hidden behind multiple layers of database security.

So, instead of using platforms that promote anonymous crypto trade or those that say nothing about the privacy and confidentiality of user data, use platforms that value and promote the safety of user assets. This choice covers you from virtually every danger of privacy violation, leaving your crypto exchange platform to worry about privacy and security concerns.

3- Use Crypto Privacy Tools

From the way crypto critics talk about the porosity of blockchain ledgers and transactions, you would think that every exchange ends up with one side more vulnerable to the assault of hackers than before the transaction. In truth, security and privacy are fundamental components of the crypto-verse, so every platform regards these components highly. (Only that some platforms, as we have shown, are more particular about them than others.) Therefore, there are privacy tools specially designed to promote the confidentiality of crypto users. Examples of such tools are zero-knowledge proofs, mixers, and ring signatures.

Consider zero-knowledge proofs. These are handy privacy tools because they are straightforward in their function. These proofs enable a user to confirm that they validated a particular crypto transaction and do so without having to provide their public keys to be believed. Ordinarily, publishing your wallet address is the traditional method of verifying transaction claims. However, with zero-knowledge proofs, you don’t have to give away your public address.

Zero-knowledge proofs are a derivative of zero-knowledge encryption, a system that ensures that a user’s access codes are only known to the user and no one else. So far, this system has been adopted in crypto security with the proofs. However, efforts are being made to fully adapt them such that they can become core features on every crypto exchange platform and service. That way, blockchain ledgers can remain transparent at the same time that users can shield their crypto activities and assets from other users and platforms.

Mixers and ring signatures serve similar functions in using both simple and complex methods to hide details of user transactions. Mixers, especially, require a third party whose database becomes the exchange point between crypto users. Therefore, transactions will be traced to the third party instead of the engaging crypto user.

All these tools are useful for protecting user crypto assets, activity, and privacy. Many crypto exchange platforms use them in one way or another. Therefore, you can rely on them as well.

4- Use Reliable VPN

VPNs have become one of the most convenient and valuable features for digital privacy and security. The best selling point of these services is that they can hide your online footprints, especially your IP address, from web trackers, governments, and even some crypto platforms. Therefore, using VPNs whenever you trade in crypto is one of the surest ways to preserve your privacy.

Every knowledgeable crypto user knows that some crypto platforms log users’ IP addresses to increase the efficiency of their services. The problem with this is that whenever hackers gain access to these platforms, they can make away with this information. Once this happens, you can expect clever hackers to try to make as much profit from their theft, including tracing your crypto transactions and finding out ways to defraud you eventually. When you use a good VPN that prevents any platform from logging your IP address, you remove yourself from this narrative of hackers and possible fraud.

One thing to keep in mind is that all VPNs are not the same. To use George Orwell’s words, all VPNs offer privacy values, but some VPNs offer more privacy values than others. You can be sure that premium VPNs (those whose services you have to pay to use) are generally more secure and reliable than free VPNs. So, to be safe, never use a free VPN with your crypto transactions.

5- Use Social Media with Crypto Addresses and Engagements with Care

The easiest way to lose your privacy and be flushed out of your crypto anonymity bubble is to engage social media with your crypto activities. Social media space is virtual, yes, but it is also all-reaching. With many online platforms integrated, every internet user is a flashing point that can be identified on the web. So, when you publish aspects of your crypto activities on social media, you are essentially throwing out pieces of meat and waiting for wolves to trace them back to you.

Granted, there is no reason a rational crypto user would want to have their crypto activities and assets exposed to the world. We all value our privacy, especially as it has to do with financial assets. But it is also very easy to accidentally compromise this privacy on social media.

Say, a celebrity asks their followers to drop their wallet addresses online so they (said celebrity) can give them (the followers) crypto for free. Once these addresses are posted online, they are almost certainly forever ‘inscribed’ on the walls of that social media platform. Any Tom, Dick, and Harry can follow these crypto addresses back to the user, look into their history, and think up ways to take advantage of them.

So, pay extra attention to how you post your stuff on social media. Keep in mind that it is difficult to erase online posts and that there is no steel-solid guarantee that hackers will not break into your social media accounts, even if temporarily. Therefore, endeavor to keep from posting your public and private keys online, whether in private chats or public posts.

So, to conclude, user privacy is very important to the crypto-verse. The appeal of the blockchain revolution is that it grants users more freedom over their assets and financial choices. However, once user privacy is compromised, this freedom counts for nothing. Therefore, the suggestions submitted in this article are simple but effective in safeguarding your place and future in the crypto-verse.

#Cryptocurrency market
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Crypto Bubbles and the Prospects of Cryptocurrency

Like any enterprise with brokers and actors, the crypto market goes through phases of highs and lows. Even though these phases are diametrically opposite, they each have their pros and perks. For the sensitive crypto trader, the best phase turns into a bubble inside which they can make a lot of money and secure assets that will bring even more money later.

So, what is a crypto bubble and what implications does it have on the prospects of crypto trading and investments in the years to come?

Crypto Bubbles at a Glance

Crypto bubbles are periods during which the prices of crypto tokens are at a radically different height than normal. Specifically, crypto tokens or assets sell for higher than they should, thereby allowing their holders to make money within a short while. Thus, the shorter the window of opportunity, the more profit crypto traders typically make, and vice versa.

Crypto bubbles develop from the interplay of numerous social and economic components, for example, the demand for a particular token or the projected prospects of a particular asset. Each of these components can be traced back to an expectation that develops as a response to a situation. The result is a crypto bubble where the price of a crypto asset usually quickly rises above its actual value and forms the basis for a crypto trader’s profiteering.

Generally speaking, crypto bubbles arise from a number of situations. These include:

  • The price of a crypto asset suddenly nearing all-time-high levels and resulting in high expectations regarding its prospects;
  • The high expectations of crypto actors and agents further stimulating the crypto asset, thereby causing even more rise in price.

So, the more crypto actors (traders and investors) are attracted by the upward price trend of the crypto asset, the higher the price will go. Eventually, the asset will be priced for much higher than it is worth, in which case its holders can enjoy significant profits trading it.

What Crypto Bubbles are Not

Crypto bubbles are not periods of fluctuating prices of crypto assets. As a rule, price volatility is a fundamental characteristic of cryptos. So, when the price of a crypto asset A rises to a new all-time-high and then falls to a new all-time-low within a short period, that is not a crypto bubble.

Also, crypto bubbles do not have a specific time limit. This often makes it difficult to recognize them immediately. So, if you notice that the price of a crypto token has been rising by 5 units every 10 minutes for 4 hours only to dip, you can be sure that that is not a crypto bubble.

Lastly, even though crypto bubbles are seemingly random, they can usually be explained. As noted earlier, these bubbles can be traced to actual (that is, real-life) social and economic conditions, factors, or dynamics. So, if nobody can make sense of why the price of a crypto asset is rising, it is highly possible that it is not a crypto bubble.

Uncertainty and Unpredictability as the Roots of Crypto Bubbles

The crypto industry has been experiencing a lot of downtime recently. Although some critics insist that this is proof that the industry is falling out of favor with market forces, we know that this is not the case. First, there is a global economic crisis and it is affecting crypto. Second, the ups and downs of the value of many popular cryptos could bring about positive trends in the long run.

From what we know of crypto bubbles, it is the scarcity of information regarding when it starts that makes it a profitable period for crypto traders. If every trader on the block has their eyes on an asset about to spark off a crypto bubble, the bubble will burst in no time. This is one of the reasons unpredictability can be a plus for smart crypto traders since it typically shrouds bubbles from public view until it can no longer do so.

So, if you want to take advantage of a crypto bubble, you could do the following:

  1. Observe a popular crypto asset that has noticeably dipped in value.
  2. Research the viability of its returning to the peak within a particular period.
  3. Watch out for social and economic events that could spark renewed investor interest in the asset.
  4. Plug in to the bubble and wait for it to form.

This is not the be-all and end-all of what it takes to seize the initiative and make early and long-lasting profit from crypto bubbles. But it works and helps you see beyond the shroud of uncertainty and unpredictability. An easier way is to keep track of assets with rising prices and wait for said prices to rise above the norm and stay there for a while.

The Prospects of Cryptocurrency

Prospects of Cryptocurrency

Crypto analysts will never get tired of speculating what great changes the crypto industry will introduce to the world of finance and business management. In reality, we know that the changes will certainly be multidimensional, so it will help you to know what crypto can and cannot do.

Crypto came to the rescue of Ukraine when it was invaded by Russia. That demonstrated that it could revolutionize national finance and tip international borders. Furthermore, it was one of the most convincing proofs that crypto was the future of decentralized finance, whether within the context of national sustainable growth and development or on an individual level.

There are great expectations for the crypto industry. The setups of business organizations will certainly be transformed with the global-scale implementation of smart contracts. New technologies and technological innovations will have to be developed to accommodate the rapidly growing system of blockchain operations and management. Retrieval systems will change, and so will the way the internet interacts with the flow of information. We are already seeing this with Web 3.0.

On an individual level, you will be able to better manage your resources, especially your finances. The extent to which big businesses can access and use your information will also change. So, the future of cryptocurrency is looking genuinely bright and beautiful.

Of course, there are dangers and risks to this future. In the absence of some regulatory standards, the system can be abused to take advantage of people and swindle them. So, while you can place your trust on the crypto system, some of its actors are bad news.

Thankfully, there are reliable centralized crypto platforms around. Some of these, like Kyrrex, are radically innovative as one-stop crypto-fiat banks. You can trust these ones while enjoying the occasional crypto bubble and anticipating the goodies of the imminent crypto future.