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Cash is inferior ! Trade your valuables via crypto and bypass fiat currency
ERC20-GIFs!
Excerpt of cars.gif by Jennifer & Kevin McCoy
(not monegraph signed)
On Friday May 2nd, around 7pm, Kevin McCoy completed transaction #1217706 on the Namecoin block chain. McCoy was taking part in Rhizome’s Seven on Seven, the fifth annual conference pairing up of artists and technologists at the New Museum. And that transaction through Namecoin, one of the countless spinoffs of Bitcoin, created an entry in a public ledger of exactly which bits are changing hands between two people.
But this transaction was different from the millions of other ledger entries tracked by Bitcoin and its variants.
This time, the bits being traded weren’t just tracking a virtual currency. Instead, they were tied to an original digital artwork created by established artists, becoming the first to follow a new convention called “monegraph”.
Until blockchain technology became available various efforts have been made to assert forms of provenance and verification for digital art , but most relied on the artworks to remain within closed, proprietary technological silos; few were designed to verify a work while also allowing it to be widely displayed across the Internet. As a result, the only way for artists to really build a market around their digital works has been to convert them into physical forms.
Historically, there has been anxiety about the fate of digital artists for at least as long as there has been digital art. But as most everyone’s computers got connected over the last two decades, the most fundamental cause of concern has been the effortlessness with which any given work can be instantly, and perfectly, copied. In a realm where novelty, rarity and exclusivity underpin so much of the (real or perceived) value of a work, copy and paste goes from being an act of creation to an act of destruction.
Reblogging is essential to getting the word out for many digital artists, but potentially devastating to the value of the very work it is promoting. What’s been missing, then, are the instruments that physical artists have used to invent value around their work for centuries — provenance and verification.
Provenance for an artwork can be asserted in countless ways, from witnessing performance art firsthand to having a world-famous auction house bet its credibility on whether a work is an original or not. This function is critical not just in enabling an economic art market, but also in the study and understanding of individual artworks and their context within a movement or culture.
Verification, on the other hand, takes on a new urgency in the digital realm. In this context, verification means the validation that a work is unchanged from its original form, and that the work in question is the actual work being discussed as a creation. It has, of course, always been possible to forge a work (and this is one of the issues meant to be solved in physical art by checking provenance), but there’s a more philosophical debate about verification in the digital realm, where simply viewing an image in a web browser results in a copy being made on the viewer’s computer or phone.
Various efforts have been made to assert forms of provenance and verification for digital art over the past few decades, but most relied on the artworks to remain within closed, proprietary technological silos; few were designed to verify a work while also allowing it to be widely displayed across the Internet. As a result, the only way for artists to really build a market around their digital works has been to convert them into physical forms.
Lemons
NEW ART FUNDING METHOD
NFTs : A new co-op patron collection is about to hit the market
• June 20, 2024 at 5:00 AM
XDALE has announced the public sale of its first Art Patronage NFTs batch. These NFTs, inspired by XDALE founder Doug Crosdale, will help the company set up a new era for Art Patronage projects with the help of the crypto community.
The new PoC concept at work
The XDALE vision rests on introducing a new breed of utility NFTs, founded on the novel ‘Proof of Contribution’ concept. The Xeries NFTs are part of the Art Patronage NFT effort and are a tool used to implement improvements required to make future masterpieces more accessible to collectors while subsidizing the production by talented but undiscovered artists. In this era of economic uncertainty, meeting expectations to produce more masterpieces of fine artwork is paramount.
XDALE will initiate the sale of 2,500 XERIES NFTs per project. The first project is a Beeple Art Purchase. It is part of an undisclosed company’s efforts and will acquire over 100 NFTs per year to stock the company’s inventory. Additionally, it will self-produce 20 pcs/year in new artwork by “Future Masters”. The price per NFT is 210 USDC. Users need to lock 400 XER for each mint. Moreover, the project has projected rewards of 735,000 XER
Project number two is an APP (Art Patronage Project) from an undisclosed Developer that will provide 60% of its production needed for a physical real estate art space. It will also provide wall space, studio space, and exhibition space in a commercial shopping mall dedicated to interior designs, sculptures, etc. That project has expected rewards of 665.000 XER. The NFT price for this venture is 190 USDC and requires locking 380 XER tokens per mint.
XDALE founder Doug Crosdale, said: “XDALE is focused and working hard completing the objectives and vision put in place when we founded it. From today forward anyone will be able to work with the art community and directly support Art Patronage projects. Improving Art Patronage access, their structures, drastically enhancing access to masterpieces and the impact on the world of art and design. Most importantly, everything will be done through a completely decentralized and transparent system thanks to the blockchain.”
XDALE Managing Director Paolo Pastore adds: “Using NFTs as proof of contribution to Art Patronage projects allows us to create a new market, keeping those contributions liquid if there is demand for them. This was not possible before: funds deposited would have been locked in the whole project duration with no chance of getting them back before the end. Now, by selling an NFT, contributors can easily move out from their position”
About the NFTs
Contributing to Art Patronage Projects is reserved for XER token holders willing to lock their tokens for the whole duration of the project. Locked tokens generate rewards coming from the 1% of platform savings generated by the approved Art Patronage Projects. Rewards are proportional to the number of tokens locked.
Every XDALE NFT is a proof of contribution NFT with utilities attached, providing holders with rewards coming from the increased value of underlying artwork of the patronage got the contributions. Moreover, the XER NFT lets holders participate in a private sale phase for new projects published on the platform. NFT holders can reserve an amount of NFTs equal to the number of XER they hold. Plus, they gain discounts on XER use, including staking/using less XER to mint future NFTs.
Pastore adds: “We decided to deploy our smart contracts on Polygon to avoid high gas fees, which would have been a major bottleneck for the whole ecosystem.”
The NFTs issued by XDALE draw elements from co-founder Doug Crosdale’s inspiration. All artworks will be revealed after the actual implementation of the project, coinciding with the NFT staking contract going live on the network. Both current projects will have at least one unique artwork and several rare/super rare creations.
After the companies implement their requested change, a staking contract will go live on the blockchain. That contract yields XER tokens (XER represents 1 USDC of saved energy) equal to the rewards generated by energy savings per month. Users can convert XER to USDC through a different on-chain contract.
There is a minimum APR of 8% for up to 40% after five years. As a result, a minimum of 1.4 million XER tokens are distributed to NFT stakers if the XER NFT mint sells out.
XDALE commits the full amount required to kickstart the implementation and secure the project. Unsold NFTs will be removed from the market and burned. Rewards tied to XDALE’s capital will be kept by XDALE and allocated to other Art Patronage projects.
About XDALE
XDALE has created the first platform leveraging the power of blockchain technology to democratize access to Art Patronage projects. Co-founded by Apple co-founder Doug Crosdale, Jacopo Visetti, Jacopo Vanetti and Ken Hardesty who have more than a decade of experience in this field, XDALE believes in a world where sustainability actually generates outsized benefits without consumers needing to change their energy behavior. For more information, visit www.xDALE.io.
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Hypsoverse
WhoIs Bitbrowze?
Overview
Crosdale, Inc. (d/b/a xDALE) are purveyors of intellectual property such as distributed apps a/k/a d-apps, e.g. (ERC721 NFTs and ERC20 STO Tokens and smart contracts). BitbrowZe is an xDALE app that lets users seamlessly mint NFTs and links to a human-readable GUI (graphical user interface) such as a hosted webpage. Tokens represent the underlying assets that you hold for sale or lease. Declared agreements on your web page confirm sale or lease transactions. These agreements are not merely written as text, they are coded as immutable computer programs that are trustless Agreements since they require no third-party witness to be enforceable.
There are 3 categories of such xDALE Agreements :
(Category-1) A Subscription Agreement;
(Category-2) A Deed Agreement;
(Category-3) A Shareholder Agreement.
Furthermore, these assets can be defined only by your web page Administrator. As types, they can be physical products, and may need to be delivered as per the buyer’s shipping information; Or, they can be digital products, such as online documents, images, etc., and can be downloaded.
A Token will be minted after associating it with the underlying asset of your choosing. Your end users (such as your clients) will be required to make full payment on any transaction. Only then will the token be transferred to their linked wallet. The ‘For-Lease’ dApp Basically, this is a subscription d-App. A Lease is treated as an annual subscription purchase broken up into small monthly payables. The owner never relinquishes the title to the underlying asset.
Illustration: As an owner of a building, I can lease a unit in the building for 1 year. The Agreement is for the assessed value of 12 x $3,000 or $36,000. I commit to selling 1 token per month to a specific buyer for a guaranteed crypto equivalent of $3,000 each. That is recited in the Annual subscription Agreement. I can do the same for the annual subscription of anything; For instance, a publication subscription. Website https://Bitbrowze.com Phone 7185697764 Phone number is 917.748.6815
Industry IT Services and IT consulting
company size 11-50 employees
HeadquartersBeaverton, OR
Founded 2000
Specialties Blockchain consulting, Real Estate, and Fine Art
Locations
(1)Primary Headquarters 9450 SW Gemini Dr, PMB 36868, Beaverton,
OR 97008-7105, US
Get Directions
Get directions to 9450 SW Gemini Dr, PMB 36868, Beaverton, OR 97008-7105, US
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Arbitrage Opty
xdale.net. AS A FOR-PROFIT OPERATION. Swap Art token vs ERC20 nft
At DALEx you can easily swap your paintings, mint your NFTs, and create unlimited memes.
call 917-748-6815 or message us securely via Threema.Ch or e-mail info@ Xdale.io
Art Arbitrage Program
Message to our Speculative Investors.
Affiliate Referral Network: Use your contacts to Build a downline of referrals and earn passive income.
I’m [ Douglas Crosdale ] of Dale Exchange.
I’m an [ artist ] [art patron].
If you appreciate the opportunities of the cryptocurrency industry I invite you to join me in a cooperative initiative to trade NFTs for cryptos.
Let me tell you how this is rewarding.
AS A FOR-PROFIT AFFILIATE
Fractional Funding Option (in certain jurisdictions only) 4
You collaborate in the crowdfunding of an original work of art and participate in fractionalized ownership just like share ownership of a corporation or shareholder in a co-op building.
#1 Firstly, you get the right to mint 1 your unique copy of the original which is 100% yours in the form of an NFT that can appreciate in market value. You can even transfer this right for consideration.
#2 Secondly, you become prestigiously recognized as a co-patron of the original. Your name is forever associated with the artwork.
#3 Thirdly, as a co-owner you are eligible for inclusion in our Affiliate Referral network to earn passive income.
#4 As a co-owner you’ll get lifetime access to Hypsoverse, our virtual reality platform (a value of $550/yr subscription ) to mint, display, and auction your unique nft.
You can view a PROTOTYPE video of the HYPSOVERSE platform for which you wear a VR headset and replace the Avatar with yourself immersing in the galleries. (The Planned Release, 12.2024).
How to test run the PROTOTYPE (Best viewed on a desktop PC. Avatar instructions: use keyboard arrows for navigation and E’ to enter through the main gallery door.)
Arbitrage Option (in certain jurisdictions only)2
#5 With the arbitrage option, you can use our DALEx exchange to swap your (ERC721) art NFT for XER our (ERC20 ) STO and then for Bitcoin or any Altcoin. XER is 25% backed by gold). In other words, the purchase price of your token is guaranteed by an equivalent amount of gold coin. This means you can never lose more than the per-ounce value of the gold pegged by our Oracle app when you first participated in the original non-profit option. We publicly display the underlying nft gold certificate backing the XER.
We think that over time, the value of the artwork will increase significantly more than the price of gold.
If XER’s market price exceeds the art NFT, your option allows you to swap one for the other and take possession of the gold certificate nft. This arbitrage position is unique to our XER token.
Online Phone Bank Systems
READING TIME: 13 MINUTES
What Is Phone Banking? A Simple Guide To Get You Started
BY: SHEELA SEQUEIRA
PUBLISHED: APR 19, 2022
Table of contents
- How does phonebanking work?
- How to set up a phone bank
- Phone Bank party
- Different kinds of Phone banking
- What’s next?
A good political campaign is the single most influential factor in determining which party or candidate wins an election. Political campaigning entails:
1. Reaching out to your voters.
2. Letting them know who you are.
3. Telling them what you stand for.
4. Educating them about why they should vote for you.
In today’s world, there are many methods campaigns use to attract your attention. The traditional way is through broadcast media like radio, TV, or simply newspapers. The more modern way, and the one that is gaining a lot of traction, is through social media, email, and online advertising.
Read Also: Get out the Vote: Research-backed Strategies and Tools to increase Voter Turnout
However, campaigning works most effectively when there is a personal touch associated with it. After all, a voter might be more influenced to support a campaign through a volunteer than a poster outside a store, right? This is why door-to-door canvassing is so useful for getting heard as well as learning more about your voter. Unfortunately, for larger campaigns or ones that have a time restriction, it just isn’t possible to visit every voter for campaigning. Besides, without a large pool of volunteers, door-to-door canvassing is almost impossible.
This is where phone banking comes in. Political phone banking is a process in a political campaign to reach out to voters via phone calls to canvass or get out the vote. It is often carried out using a call center software, commercial phone banks, or voluntary phone banks (run by volunteers).
Through phone banking, you can reach thousands of voters in a quick and efficient manner. How long does calling a single voter take? Just 3 minutes, sometimes even less!
Just imagine- if you have four or five volunteers calling voters, you can reach a large number of voters in a very short amount of time. And if canvassing is combined with phone banking then the two can be extremely effective in improving voter turnout as well as increasing supporters. Talk about killing two birds with one stone! Read more about how you can club canvassing and phone banking.
Read Also: 6 ways Political Phone Calls help Campaigns.
How does phonebanking work?
Now that we know what phone banking is, the next question is – how exactly does it work?
Well, phone banking basically involves volunteers calling lists of voters and talking to them about their campaign. These campaigns can be of different sorts; some might be for getting out the vote (GOTV), some could be for recruiting volunteers, while others could be for raising funds, or for identifying voters.
Case Study: How Organizing for Change ran a successful GOTV campaign with phone banks
Some campaigns use traditional phone lines to call voters. Each volunteer has to manually dial a number, wait for the caller to pick up, and then talk to them. They have to record information about the call on paper and the manager is then stuck with a pile of survey information that needs to be manually entered into the CRM. Boring and tedious much? You bet! When you have thousands of voters to reach out to, the traditional phone banking method gets monotonous and is inefficient, and expensive in terms of time and money.
Advanced phone banking tools are software-based. Here, volunteers can simply log into the system through their computers and make calls through a browser if need be. The system handles assigning voters to agents, displaying accurate information about the voter, and storing all the feedback from the call.
So how does it help save time? Simply put: by calling the number for you and skipping bad numbers, answering machines, and busy numbers.
Each call made by a volunteer now takes 50% lesser time than the traditional method.
How to set up a phone bank
Phone banking is extremely easy to set up if you have a phone banking tool like CallHub. However, there are a few things you need planned for your campaign, such as:
- List of voters to be called
- The script that volunteers need to follow when talking to voters
- Recruit a list of volunteers who can phone bank for you
- Survey questions to be answered, if any.
Your volunteers need to be trained on what to talk about and what feedback to store. Read more about How to train your campaign volunteers.
10 TIPS ON HOW TO RUN A SUCCESSFUL PHONE BANK
Phone Bank party
Phone banking can be super boring at times with the repetitive tasks involved. But it can be a lot of fun when done in a group, for which a party or a get together of sorts can improve moods. Also, most volunteers aren’t used to calling and talking to strangers. They need to be motivated and in a group setting, volunteers working towards the same goal can encourage each other to do better. It also gives them a chance to bond and feel closer to the campaign. By throwing a party where all attendees can mix, mingle, interact and call voters, the quality of the calls is better and the number of calls made is higher too.
Different kinds of Phone banking
There are two types of phone banking that can be used, automated and manual. Let’s understand how the two of them work, shall we?
1. Automated
An automated dialer dials through a contact list and when a call is answered connects it to a live agent. This type of system is called a virtual outbound call center.
Relax, it’s not as complicated as it sounds! Just click here to understand it and see how simple it actually is.
So the next question is…how do agents connect to this software offered by CallHub? Well, there are two ways for this to happen:
- Using a browser
The agent merely requires a computer and a headset and he/she is good to go. As simple as that! The agent would have to use the CallHub browser interface to read through the given script and answer surveys.
The advantages of using a browser are that it is affordable, only a single device is required, and well, it’s hands-free!
- Using a phone
Here the agent uses a phone to connect to the campaign. Using another device, say a computer, the CallHub application is opened on the browser to read the script, answer surveys, etc.
There are two modes that can be used: Either the agent dials into the campaign, or the agent receives a call to be connected. How are the modes chosen? They are based on the phone plans in your country and the respective pricing.
The advantage of using a phone is that it is more convenient for older volunteers, and you do not require a high-speed internet connection to make your calls. On the flip side, it is a tad more expensive and requires more than one device.
In automated phone banking, there are three types of dialers that users can employ according to their needs:
1. Predictive Dialer
A predictive dialer is extremely useful if you want to reach out to as many people as possible. This is necessary in the case of large campaigns such as voter identification, etc. The dialer calls a contact list and only connects those calls which are answered to the agents.
This helps save a massive amount of time as dial tones, unanswered calls, answering machines, etc get weeded out. So agents are focused only on talking to supporters instead of listening to an unending dial tone or a robotic answering machine.
2. Power Dialer
The power dialer dials the numbers automatically while the caller focuses on the live call at hand. It is a less rushed form of calling where the agent has time to fill up the survey, enter notes, and then begin the next call.
You can also set a dial rate which helps speed up the campaign while giving volunteers adequate time to fill up survey questions.
3. Preview Dialer
The preview dialer is a flexible type of dialer where an agent requires time to research the contact. The conversations are generally of a more in-depth manner and could be follow-ups to previous conversations.
The manager still has control over the people being called and gets a detailed recording of each call.
2. Manual
Also known as collective calling, manual callinghas the same interface as the automated dialer. So what’s the difference? Well, the calls, in this case, are not made by CallHub; the agent would have to manually dial in the number on a phone, then use CallHub to go through the script and answer survey questions.
So why use collective calling over dialing a number yourself, or with a group of volunteers?
This might work if all the agents are in the same place, but if everyone is spread geographically, coordinating with each other will be a major hassle.
What collective calling does is make the calling process seamless and dynamic: based on the number of active agents at a particular time, contacts are assigned to them.
This ensures that all contacts get called and no one is missed out. Besides, using CallHub’s software it is possible to remove agents who aren’t doing too well.
So what should you use – an automated or manual dialer?
You can use Automated Calling if
- You are a political campaign looking to reach voters
- An advocacy group
- You are not bound by any TCPA regulations
And similarly, you can use Collective Calling if
- You are restricted by TCPA regulations but still would like to optimize your campaign
- Most of your contacts are mobile numbers (not landline numbers); you’d prefer dialing them rather than calling using an automated dialer…again due to TCPA regulations
What’s next?
We know that with a range of software solutions available today, choosing the one which will work for you can get a little confusing. Take our quiz Which Autodialer Works Best For Your Campaign? to find out which autodialer will work best for your campaign.
Featured Image Source: Olha Ruskykh
Categories:
Sheela is a marketer with a love for all things digital and creative. She has helped build products, market them, and sell them too. When not at the desk, Sheela keeps busy recording music with her band, staring at desserts, and chasing her cats.
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Why have memes?
Memes have become a popular form of communication on the internet because they are easily shareable and relatable to a wide audience. They often convey humor, emotions, or cultural references in a simple and digestible format. Memes also can spread quickly and virally, making them a powerful tool for conveying messages or ideas.
Here are some links that discuss the reasons behind the popularity of memes:
- “The Science of Memes” – This article from Psychology Today delves into the psychology behind why memes are so popular and how they spread: https://www.psychologytoday.com/us/blog/our-changing-culture/201809/the-science-memes
- “The Evolution of Memes” – This article from Wired explores the history and evolution of memes, as well as why they have become such a prominent form of online communication: https://www.wired.com/2017/05/the-evolution-of-memes/
- “Why Memes Are So Powerful” – This video from Vox explains the cultural significance of memes and why they have become a dominant form of communication in the digital age: https://www.youtube.com/watch?v=6VPl3eN5V1k
Overall, memes have become a popular form of communication because they are easily accessible, relatable, and shareable, making them an effective way to convey messages and ideas in a fun and engaging manner.
Bitbrowze Art Works
At Bitbrowze you can easily host your paintings, mint your NFTs, and create unlimited memes.
call 917-748-6815 or message us securely via Threema.Ch or e-mail info@ Xdale.io
Co-op Art Patron Program
Message to our VARs.
Affiliate Referral Network: Use your contacts to Build a downline of referrals and earn passive income.
I’m [ Douglas Crosdale ] of
Skip to navigation | Skip to content
I’m an [ artist ] [art patron].
If you appreciate fine art I’d like you to join me in a cooperative initiative to sponsor emerging artists.
Let me tell you how this is rewarding.
EITHER AS A NON-PROFIT AFFILIATE or AS A FOR-PROFIT AFFILIATE
#1 Firstly, in either case, you become part owner of the original once the artwork is acquired. It’s like the fractionalized ownership of shares in a co-op building.
#2 Secondly, you become recognized as a co-patron. Your name is forever associated with the artwork.
#3 Thirdly, as a co-patron you are eligible for inclusion in our Affiliate Referral network to earn passive income. You get the right to mint 1 your unique copy of the original which is 100% yours in the form of an NFT that can appreciate on the market. You can even transfer this right for consideration.
#4 As a co-patron you’ll get lifetime access to Hypsoverse, our virtual reality platform (a value of $550/yr subscription waived for you ). There you can browse or even host your metaverse gallery.
You can view a PROTOTYPE video of the HYPSOVERSE MUSEUM of ART where you wear a headset and replace the Avatar with yourself immersing in the galleries. (The Planned Release, 12.2024).
You can test run the PROTOTYPE (Best viewed on a desktop PC. Avatar instructions: use keyboard arrows for navigation and E’ to enter through the main gallery door.)
#6 Finally, there are tax advantages to the non-profit affiliate. You are free to consult with our team of legal experts.
May I or one of our representatives schedule you for a Zoom call or even a personal visit? Thank you.
DALEx
DALEx.bitbrowze.com Decentralized exchange is an alternative environment that cuts out a middleman thus generating what is often thought of as a “trustless” environment. These types of exchanges function as peer-to-peer exchanges. Assets are never held by an escrow service, and transactions are done entirely based on smart contracts and atomic swaps.
The crucial difference between centralized and decentralized exchanges is whether or not a third party is present. Decentralized exchanges are less widespread and popular compared with centralized exchanges, at least in the U.S. (due to regulatory issues). Nonetheless, it’s possible that they will give centralized exchanges a run for their money in the future.
What Are Centralized Cryptocurrency Exchanges?
By NATHAN REIFF Updated July 30, 2023
Reviewed by ERIKA RASURE
erika
Reviewed by Erika Rasure
Full Bio
Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. She is a financial therapist and transformational coach, with a special interest in helping women learn how to invest.
Learn about our Financial Review Board
Fact checked by ARIEL COURAGE
What Are Centralized Cryptocurrency Exchanges?
Centralized cryptocurrency exchanges are online platforms used to buy and sell cryptocurrencies. They are the most common means investors use to buy and sell cryptocurrency holdings. For most digital currency investors, the centralized cryptocurrency exchange is one of the most important vehicles for transacting.
Some investors may find the concept of a “centralized” exchange somewhat misleading, as digital currencies are often billed as “decentralized.” Here’s what it means for an exchange of this type to be “centralized” and why these exchanges are so crucial for the success of the cryptocurrency industry as a whole.
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Click Play to Learn About Cryptocurrency Exchanges
Understanding Centralized Crypto Exchanges
In the term “centralized cryptocurrency exchange,” the idea of centralization refers to using an intermediary or third party to help conduct transactions. Buyers and sellers alike trust this entity to handle their assets. This is common in a bank setup, where a customer trusts the bank to hold their money.
The reason for this setup is that banks offer security and monitoring that an individual cannot accomplish on their own. In the case of a centralized cryptocurrency exchange, the same principle applies. Transactors trust not only that the exchange will safely complete their transactions for them but also that it will use the network of users in the exchange to find trading partners.
In the case of cryptocurrencies, which are often stored in digital wallets, an individual can lose hundreds or thousands of dollars in digital currency holdings simply by forgetting the key to a wallet. An exchange will not allow this to happen, as it attempts to safeguard the holdings for the individual investor.
Key Elements of Centralized Crypto Exchanges
New centralized cryptocurrency exchanges are emerging all the time. However, not all of them are successful—it’s not uncommon for them to fold. The success or failure of an exchange is dependent upon a large number of factors. However, one of the key components to success is trading volume.
Generally speaking, the higher the levels of trading volume, the lower the volatility and market manipulation likely to occur on that exchange. Volatility is a crucial consideration. Because of the time it takes for transactions to be completed, the price of a given token or coin can change between the time the transaction is initiated and the time it is finished. The higher the trade volume and the faster the transaction can be processed, the less likely this fluctuation will be a problem.
Another crucial element of a successful centralized exchange is security. While no exchange is completely immune to malicious activity like hacks, some are safer than others.
The way an exchange reacts to an event such as a hack is by no means a given. Some exchanges have worked hard to refund customer losses, while others have been less successful in that regard. Still others have shuttered as a result of these types of attacks.
For investors looking to enter the cryptocurrency space, a centralized exchange is still the most common means of doing so. When selecting an exchange, it’s important to keep in mind the host of factors that will impact user experience, including which pairs are traded, how high the trading volume is, and the security measures exchanges have adopted to protect their customers.
Centralized vs. Decentralized Exchanges
Centralized exchanges can be used to conduct trades from fiat to cryptocurrency (or vice versa). They can also be used to conduct trades between two different cryptocurrencies. While this may seem to cover all of the potential transaction types, there is still a market for another type of cryptocurrency exchange as well.
Decentralized exchanges are an alternative; they cut out the intermediary, generating what is often thought of as a “trustless” environment. These types of exchanges function as peer-to-peer exchanges. Assets are never held by an escrow service, and transactions are done entirely based on smart contracts and atomic swaps.
The crucial difference between centralized and decentralized exchanges is whether or not a third party is present. Decentralized exchanges are less widespread and popular compared with centralized exchanges, at least in the U.S. (due to regulatory issues). Nonetheless, it’s possible that they will give centralized exchanges a run for their money in the future.
Fiat/Cryptocurrency Pairs
It’s common for a centralized exchange to offer cryptocurrency/cryptocurrency pairing. This allows customers to trade, for instance, bitcoin for ether tokens. Fewer exchanges offer fiat currency/cryptocurrency pairs, which would allow crypto trades for regular currency exchanges.
Some of the largest centralized cryptocurrency exchanges in the world offer these fiat/cryptocurrency pairs; however, most are not regulated. Part of the reason for this is likely that they serve as a direct access point to the global cryptocurrency market and don’t have an established presence in the U.S.
Since many investors in the space are relatively new to investing in digital currencies, they may be more likely to turn to these types of exchanges. Some of these exchanges include Coinbase, Robinhood, Kraken, and Gemini.
Is Coinbase a Centralized Crypto Exchange?
Yes. Coinbase is a centralized cryptocurrency exchange that operates in the U.S. and globally.
A Centralized Cryptocurrency Exchanges Safe?
Cryptocurrency exchanges are often targeted by sophisticated hackers. Some exchanges have taken measures to prevent or deter theft attempts, while others may not have been as diligent.
What Is the Most Secure Centralized Crypto Exchange?
It depends on what you believe secure means. Some exchanges provide insurance against theft and network security techniques, while others add deep cold storage methods that take your keys offline until you need them. Still others use a combination of technologies to try and secure your crypto. This means that you should do your homework and learn all your options before choosing an exchange.
The Bottom Line
Centralized cryptocurrency exchanges are online trading platforms that facilitate cryptocurrency exchanges between customers who prefer a familiar trading environment. These platforms are often used to store cryptocurrency and expose traders and investors to assets that are otherwise difficult for many people to access.
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