Here, we introduce the [Bitcoin Edge Wallet](https://edge.app/), which may be the ideal wallet for safekeeping your crypto. 

Cybercrime is a burgeoning issue in the crypto market that has swept more than $600 million worth of digital assets from the market. As a result, investors are on the constant lookout for a secure option for keeping their crypto. However, due to the multitude of options available in the market, picking the right one could be tricky.  

Introducing Edge. 

## What is Bitcoin Edge? 

Edge wallet is a digital wallet that you can use for storing all your cryptocurrencies. It is an app-based platform that keeps your assets safe and gives you a seamless interface to manage them. It allows you to safely trade your assets while keeping control with you. 

The wallet lets you buy and sell more than 130 coins on its app. Meanwhile, you can secure access to the wallet by setting up a biometric or a PIN login. You can also easily switch devices because of its auto-sync feature. 

## Create an account on Bitcoin Edge in 6 steps 

Here's how you can create an account on the app: 

1. Visit the app store, find the app, and download it. 
2. It will show a 'get started' option; select it to go to the page to set up a username and password. 
3. Type in the username and enter a password by following its guidelines for using certain characters.  
4. Add a unique four-digit PIN for your account to add a protective layer for accessing it. 
5. After that, it will show you your account details. It is crucial to note and keep it safe, as you may lose access to your account without it.  
6. Once done, review the wallet's terms and conditions and proceed with 'Confirm & Finish'. 

Finally, your Edge account will be ready to use. You can view the dashboard and two wallets on it. Initially, it gives two options: My Ether and My Bitcoin. But you can add other wallets per your preference.  

## How to buy Bitcoin with Edge Wallet 

To purchase Bitcoin with Edge Wallet, go to 'Buy' at the bottom of the screen. 

![Edge app screenshot](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Edge_app_screenshot_5723449ce1.png)

Multiple payment options will appear on the screen when you select it, including bank transfer, credit or debit card, Apple Pay, and others. You can choose any of them as per your preferences. 

Once you select a payment method, the app will guide you through the purchasing process. Follow the directives and pay the amount to buy the BTC. After that, the payment will be accepted, and the app will transfer the BTC to your account.  

Buying crypto through these payment methods is one of the most convenient options, allowing you to buy directly from the app. However, you have to pay an extra fee to enjoy this convenience.  

There are several other options to buy crypto aside from Bitcoin Edge. A common among them are centralised exchanges like[ Coinbase](/news/article/coinbase-review-uk), Binance, or [Kraken](/news/article/kraken-review). You can also purchase BTC from decentralised exchanges like Uniswap, [PancakeSwap](/news/article/what-is-pancakeswap), or [Trader Joe](/news/article/trader-joe-xyz-launches-amm). Regarding the transaction fee, cryptocurrency exchanges are the cheapest among all other options for buying crypto.  

Apart from using a [cryptocurrency exchange](/news/article/what-is-a-cryptocurrency-exchange), you can also opt for peer-to-peer (P2P) transfers. It lets you buy or sell crypto directly from another trusted person. This type of trade is facilitated by various payment gateways like PayPal, ACH transfer, Venmo, and others.  

## Final thoughts 

Bitcoin Edge is a powerful mobile wallet for securely managing and trading more than 100 cryptocurrencies on one intuitive platform. The app's intuitive interface is easy to get acquainted with and make trades whenever you like. 

Furthermore, the app can easily auto-sync with any of your devices so that you can manage your assets seamlessly. It also maintains a high level of security by letting you add a PIN or biometric for every wallet on the app. 

In this article, we covered how to create an account on Edge and use it to buy Bitcoins. You can confidently set up and navigate the wallet by following these simple steps. 

Bitcoins falling out of edge wallet on a desk

What is the Bitcoin Edge Wallet and how do you use it? 

Jake Paul, the Bitcoin investor and professional boxer, recently made headlines in the crypto space. Paul, along with several other renowned figures such as [Lindsay Lohan](/news/article/lindsay-lohan-faces-charges-from-sec) and DeAndre Cortez Way, faced charges from the US SEC [for promoting securities](/news/article/us-sec-regulation).  

The SEC issued a statement about the case in a press release on 22 March, 2023. It signified that Paul and eight other celebs endorsed two unregistered crypto securities, BitTorrent (BTT) and Tronix (TRX). Allegedly, Paul was specifically involved with the TRX tokens' promotion introduced by the Tron Foundation Limited.  

However, the US financial watchdog and the digital content creator turned boxer immediately devised a settlement plan.  

## Paul negotiated a settlement of $400,000 with the SEC 

According to an [ESPN report](https://www.espn.in/boxing/story/_/id/35920648/sec-charges-jake-paul-unlawful-promotion-crypto-assets), the settlement terms from the SEC included the payment of $400,000 as penalties and interests. The amount was set to pay for the charges for promoting a cryptocurrency without explicitly mentioning that the company behind the coin paid them. Paul and other celebrities who were also charged with the breach of SEC laws agreed to pay the settlement amount.  

The financial regulatory body alleged that the prizefighter endorsed the TRX tokens for compensation in cryptocurrencies worth $25,019. For pressing the charges against Paul, the SEC referenced his Twitter post from 12 February, 2021. Paul was replying to the Rapper Lil Yachty in the tweet and mentioned #TRX with a rocket emoji. 

Supposedly, the tweet was sponsored and influenced people to invest in the token. Due to this reason, regulators filed charges against Paul and other famous figures. However, the prizefighter denied the charges even after the deal. 

## A lawsuit against Justin Sun and his three companies  

The SEC also filed charges against the companies behind TRX and BTT tokens, namely Tron Foundation Ltd., Rainberry Inc., and BitTorrent Foundation Ltd. All of these companies were set up by a prominent entrepreneur in the crypto space, Yuchen Justin Sun. According to the filing, these companies sold unregistered securities to their customers. 

Apart from that, the charges against Sun included using wash trading and deceptive tactics to manipulate the market. Allegedly, Sun and his companies were selling and purchasing their tokens at almost the same time to fraudulently maintain the trading volume of the tokens in the market.  

They used this scheme only to maintain the tokens' price and compensate the celebrities. Meanwhile, other media figures named in the case were Lindsay Lohan, Soulja Boy, Kendra Lust, Rapper Lil Yachty, Austin Mahone, Akon, and Ne-Yo.  

Among these celebrities, only Austin Mahone and Soulja Boy are the ones who did not agree to the SEC settlement. 

## Jake Paul Bitcoin and crypto shilling 

Jake Paul is an infamous American media personality who started his boxing journey in 2018. In recent years, the boxing star also became quite popular in the cryptocurrency world because of his investments in cryptocurrencies as well as non-fungible tokens (NFTs). The Jake Paul Bitcoin association began about two years ago, when he revealed in [a BitBoy Crypto podcast](https://www.youtube.com/watch?v=Ezffg0qtAXA) that he invested in BTC when it was only worth $100, and he has been hodling the asset since then.  

The tweet for Tronix was not the first instance when the boxer endorsed a cryptocurrency. He is often introduced as a rising crypto influencer in the crypto space and has been rooting for numerous blockchain projects.  

While there is a Jake Paul Bitcoin association, other projects he has been associated with in the past do not have a good reputation in the market. In 2022, a project named Animoon, which he promoted, exited the market with an alleged [rug pull](/news/article/rug-pull-what-is-it) of around $6.3 million. Moreover, his brother Logan has also been involved in the [CryptoZoo](/news/article/logan-paul-cryptozoo) scam. 

Jake paul in front of red pile of bitcoins

Jake Paul - Bitcoin Investor or Shiller?

This article is a B[itcoin Era](https://bitcoinera.app/) review, examining the robotic crypto trading system that has left many wary about its legitimacy. 

Crypto trading has recently become a prevalent way of generating passive income. Due to this, many platforms have emerged that use advanced algorithms and artificial intelligence to assist investors in trading. However, it is never risk-free to trade crypto, particularly on these platforms. Therefore, it is advisable to be careful while dealing with such trading forums.  

Let's delve to find out whether Bitcoin Era is a safe option to trade cryptocurrencies or not. 

## Bitcoin Era review: What is it? 

Bitcoin Era is a trading bot for cryptocurrencies that claims to use advanced AI algorithms to automate trades. It allows the traders to develop a simple[ crypto trading strategy](/news/article/simple-cryptocurrency-trading) that requires minimal observation and follow-ups. It is a web-based platform that can make trades on your behalf, so you do not constantly have to monitor market trends. 

According to the website, investors can buy or sell more than 15 coins, including popular ones like[ Bitcoin](/coins/btc), [Ethereum](/coins/eth), [Ripple](/coins/xrp), and [Litecoin](/coins/ltc). It also gives you four options for fiat currencies: USD, GBP, JPY, and Euro.  

It does not cost you to set up an account on Bitcoin Era. Still, you need a minimum deposit of $250 to start automated trading. Meanwhile, the trading web app only charges a trading fee of 2%, and there are no fees for withdrawals and deposits.  

The website maintains that the investors using its unique services have a success rate of around 85%. However, this claim is not backed by any sources or independent Bitcoin Era review. Therefore, the legitimacy of the platform remains in doubt. 

## Bitcoin Era review: Pros and cons 

Now, let's look at some of the pros and cons in our Bitcoin Era review. 

### Pros 

- Easy-to-navigate interface. 

- Supports buying and selling of multiple assets. 

- Offers demo accounts. 

- No deposit or withdrawal fees. 

### Cons 

- Unverifiable claims of success rates. 

- Lack of positive reviews for the platform. 

- The initial deposit amount is relatively higher. 

## Which features does Bitcoin Era offer? 

Here are the main features that the web app claims to offer to its clients: 

### Intuitive interface 

The web app asserts that it provides an easy-to-use interface to make trades. The automated trading feature creates further ease for investors as they can start with virtual assets without prior knowledge.  

### Multi-asset trading 

The trading forum also supports around 15 cryptocurrencies, including the leading ones like BTC, ETH, ADA, and DASH. It lets you build a diverse portfolio of all the popular coins in the market. 

### Options for both manual and automated trades 

The platform is known for its copy or automated crypto trading services. It holds that its AI-based trading services can make up to 85% of investor profits. Nevertheless, this tall claim is not supported by any data.  

It also allows you to trade manually based on your own market insights. You can even use the forum to educate yourself about market trends. It offers real-time market analytics that makes [crypto investing strategies ](/news/article/crypto-invest-strategy)even for beginners. 

### Demo accounts to gain experience 

You can have a demo account if you are a novice trader and need more confidence about entering the real market. You can avail yourself of this free service by registering on the platform. 

The demo account enables you to hone your skills and gain knowledge about how the crypto market works. A demonstration account can also be useful for seasoned traders as they may test their different trading strategies. 

### Minimal fees 

The platform also claims to have a no-fee policy. It does not charge any fee for creating an account. Similarly, no additional charges exist for withdrawing or depositing money in your account. It only charges a trading fee of 2% of the amount you transfer or receive. However, the Bitcoin Era app does require an upfront deposit of at least $250.  

### Swift registration process 

The cryptocurrency exchange forum has a swift registration process. Even though it follows the Know Your Customer (KYC) requirements, the signup procedure is instant. You only need to provide basic personal details and can get started on the platform. 

## Bitcoin Era review: Is it a scam? 

A review of the web app suggests that it is an automated cryptocurrency trading system that offers advanced market insights. It caters to seasoned and novice traders by offering automated and manual trades. Besides, it seems an inexpensive option as it does not charge any fees for registration, withdrawals, or deposits. Plus, you will have enough cryptocurrencies to diversify your portfolio with options ranging from Bitcoin to Binance Coin.  

However, what makes one suspicious about the platform is its exaggerated claims and marketing tactics. For instance, its claim of 85% profit seems grossly inflated as it is not substantiated with data. Moreover, only a few independent reviews support these claims. As a result, the entire image of the platform becomes dubious. 

## Final verdict 

Although there are no direct signs of a scam, it provides misleading information. This is what makes such platforms quite risky. So, considering the Bitcoin Era as an investment opportunity, it's crucial to be aware of the risks involved. Ensure to follow a robust risk management strategy and carry out thorough research. 

Bitcoin Era review: Is it a legit trading platform? 

To short a crypto, such as Bitcoin, refers to the process of borrowing and selling a cryptocurrency with the hope that its price will decrease in the future. 

It allows one to buy the asset at even lower prices later to gain profits. It is a profitable short-term investment plan that involves higher risks. 

However, you do not have to deal with individual cryptocurrencies for shorting. Instead, you can invest in derivatives such as [21Shares Short Bitcoin ETP](https://21shares.com/product/SBTC). It is an exchange-traded product (ETP) that enables you to get daily inverse profits. Let's find out what it is and how it works. 

## What does it mean to short Bitcoin?  

Before we move on to 21Shares short BTC, let's first discuss what exactly shorting BTC is. Shorting is a technique that enables you to make daily profits when the BTC price is depreciating. This way, you can make gains even when market conditions are tough. 

It is a way of leveraging the dipping price of the coin by getting inverse profits. It means you can sell the borrowed crypto at a higher price, considering it will depreciate continually. 

So, when the price of Bitcoin declines, you can buy it back and return it to the lender. This allows you to make gains from the fluctuating price of Bitcoin. 

Now, many crypto trading platforms offer various types of derivatives in the form of contracts for difference (CFDs). These may also include exchange-traded products (ETPs). 

## What are ETPs? 

A crypto ETP is an investment vehicle that uses crypto tokens as its backing. It is quite similar to traditional investment vehicles, usually backed by gold. Similarly, these products can be traded on exchanges like any other stock.  

The main difference here is that they are backed by cryptocurrencies like Bitcoin and allow you to track their performance in the market daily. A prominent example of a crypto ETP is Fidelity Physical Bitcoin (FBTC). 

## What’s 21Shares Short Bitcoin ETP? 

It is an offering by the 21Shares platform denoted by the ticker SBTC. SBTC is a product through which you can get inverse BTC returns of -1x. The returns are based on daily price fluctuations and are multiplied by -1. Since they depend on daily price variations, you cannot hold Bitcoins for longer periods. Therefore, you must know the right holding spans and the risks involved in shorting.  

The procedure of short Bitcoin involves borrowing BTCs from the platform and selling it at the same time before the value is expected to decrease. Through this, you can generate profit from the declining price of BTC. You have to use USD or US Dollar Coin (USDC) along with BTCs as collateral for using the SBTC product. 

## Benefits of using SBTC 

There are various upsides to opting for the SBTC product by 21Shares. Firstly, it allows you to navigate [the bear cycles](/news/article/crypto-bear-market-survival) by offering inverse returns. Secondly, it gives you daily liquidity that can assist you in day-to-day trading. You can open and close trades within 24 hours.  

Apart from that, inverse returns can also help you in rebalancing your portfolio. Since the -1x factor resets after each day, your portfolio can adjust to the price fluctuations easily. Moreover, the platform offers an institutional standard system that can facilitate you in terms of crypto custody, trading features, and analytics. This smoothes out the entire procedure and creates convenience for you.  

## What are the costs of 21Shares Short Bitcoin ETP? 

According to Boerse Frankfurt, the current price of the ETP is 0.7197 for 84,845 pieces. Yesterday, the closing price was 0.7201, and there was a difference of around 0.22%, whereas the spread absolute was around 0.0015. Aside from that, the daily turnover in the number of pieces has been 13,614.  

In the past 52 weeks, the lowest difference has been 0.6794. Meanwhile, in the same period, SBTC observed the highest difference of 1.8631. 

Here’s what the one-year chart for the Short Bitcoin looks like: 

![Chart of Short Bitcoin](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_08_04_at_15_47_59_5b2c09e8a2.png)

The chart shows that with the start of 2023, the cost of the ETP started to fall. The main reason behind it is that Bitcoin’s price has made substantial gains this year and has maintained [an upward trend that started in December 2022](/news/article/btc-price-today). It affected the inverse return mechanism, which performs best when the market shows bearish signals. On the other hand, SBTC performed comparatively higher in the last five months of 2022.  

## Closing thoughts 

21Shares Short BTC product presents a unique investment opportunity for those looking to hedge against potential downward movements in the price of Bitcoin. The product’s inverse performance makes it highly competent for the bearish market. That’s why if you use it strategically, you can generate high returns even in bearish cycles.  

However, short Bitcoin is a high-risk and high-reward strategy. So, if you are looking to invest in SBTC, you must have an advanced level of trading knowledge. But it is advisable to be fully prepared for risk management and only invest according to your risk appetite.  

21Shares Short Bitcoin ETP: All you need to know 

The raving AI boom of 2023 has capped the hype for Metaverse tech. Many critics even [wrote obituaries](https://www.businessinsider.com/metaverse-dead-obituary-facebook-mark-zuckerberg-tech-fad-ai-chatgpt-2023-5) for Mark Zuckerberg’s idea of a virtual world. Amid this, you might wonder whether Metaverse is dead, and if not, then who are leading the Metaverse companies? 

So to clear your doubts, here we have curated a list of seven leading Metaverse companies. The list has some big tech names that suggest the concept behind the virtual world isn't going anywhere anytime soon. So, let's get you started! 

## 7 Metaverse companies you must know about 

Here are the seven Metaverse companies you need to know about. 

### Meta Platforms Inc. 

[Meta Platforms Inc](https://investor.fb.com/home/default.aspx). became a global leader in the Metaverse industry when it rebranded itself in 2021. The name 'Meta' symbolises the company's focus on building a 3D virtual world. Meta's CEO, Mark Zukerberg's announcement of this shift spurred global hype for the idea of virtual worlds, and many businesses and tech giants started exploring it. 

Meanwhile, the company has invested more than [$36 billion](https://www.businessinsider.com/charts-meta-metaverse-spending-losses-reality-labs-vr-mark-zuckerberg-2022-10) into Metaverse-related projects. It focuses on developing advanced devices for augmented reality (AR) and virtual reality [(VR](/news/article/metaverse-vr-project-guide)). Also, Meta is creating a supporting environment for developers to experiment with new ideas.  

The most impactful development towards creating immersive experiences is its AR/VR products like Meta Quest 2 and Meta Quest Pro. Plus, it has also introduced the Meta Horizon Worlds for 3D games.  

### Alphabet Inc. 

Another leading name among Metaverse companies is [Alphabet Inc](https://abc.xyz/)., one of the largest tech businesses. It is Google's parent company, which began investing in AR/VR tech in 2014 with its Google Glass project. However, due to the lack of awareness about Metaverse back then, the project was not a success. 

Nevertheless, Alphabet Inc. again started to invest heavily in related tech after the concept of Metaverse gained traction in 2021. According to some sources, Google has infused around $39.5 million to acquire numerous related projects. For instance, it acquired North, a smart glasses company, and Raxium, a microLED startup. 

Alphabet has also started working on its Google Metaverse. Although it is unclear what this 3D world will be like, various projects in the pipeline hint at what it will feature. These projects include Project Iris, Starline, [ARCore](https://developers.google.com/ar), and the integration of AR in various of its offerings. 

### Roblox Corporation 

[Roblox](https://www.roblox.com/) is a leading online gaming platform where anyone can design their own games. The platform allows you to create your own virtual spaces and [Metaverse games](/news/article/metaverse-games). You can also monetise your games by allowing others to play them and buy in-game accessories. Due to these features, Roblox makes an ideal platform for immersive experiences. 

The gaming platform currently has more than 50 million daily active users. Besides, a community of around 9.5 million developers supports it, creating new experiences and shaping an immersive realm. That's why Roblox is a veteran among Metaverse companies. 

## Nvidia 

Nvidia is another tech giant that recently made headlines as it crossed the $1 trillion mark. The firm is renowned for designing the fastest chips that support artificial intelligence (AI) computing systems. However, Nvidia has a strong foothold in the Metaverse industry, too.  

In September 2022, the firm launched its unique infrastructure as a service called [NVIDIA Omniverse Cloud](https://www.nvidia.com/en-us/omniverse/). It is a cloud services suite for developers and creators that allows them to create 3D simulations. Many leading firms like PepsiCo, Siemens, Amazon, WPP, and others developed their own experiences using Omniverse.  

## Microsoft Corporation 

[Microsoft Corporation](https://www.microsoft.com/en-pk) is yet another big contender among Metaverse companies. The firm is strategically working on building both AR/VR devices and immersive environments. Meanwhile, it has also acquired the gaming firm Activision Blizzard via a $70 billion deal which may allow it to develop 3D gaming experiences.  

One of Microsoft’s breakthrough hardware is its [Hololens ](https://www.microsoft.com/en-us/hololens)series, which are Windows-based mixed-reality glasses. The company claims these glasses can enhance workers' productivity in many industries, including education, healthcare, manufacturing, and others. 

Microsoft Mesh is another project that is another step towards developing interactive 3D simulations. It is blended with Microsoft Teams and allows for more engaging collaborations. It shows that the Microsoft Metaverse will specifically focus on designing a virtual world that offers interactive workspaces.  

Microsoft Corporation also [partnered up](https://blogs.microsoft.com/blog/2022/10/11/microsoft-and-meta-partner-to-deliver-immersive-experiences-for-the-future-of-work-and-play/) with Meta Platforms in 2022. This partnership may lead to the introduction of [Mesh](https://www.microsoft.com/en-us/mesh) into Meta Quest devices. 

## Epic Games  

The American video game giant, [Epic Games](/news/article/epic-games-nft), is also looking to advance its Metaverse initiatives. The firm is renowned for its Fortnite game and Unreal Engine, which offers an infrastructure for game developers.  

Epic Games invested more than $31.5 million in its 3D virtual world in 2022. The firms like Kirkbi, Sony Group Corporations, and others helped Epic Games raise this fund. According to its CEO Tim Sweeney, the firm plans to use it to create interactive spaces for players and offer developers a platform where they can be creative.  

## Apple 

[Apple Inc](/news/article/apple-crypto-and-nft-rules). needs no introduction as it is the largest tech company in the world, with a net worth of around $3 trillion. In the last couple of years, the company started to explore Metaverse by throwing its weight behind VR headset tech.  

Interestingly, the company has even launched its VR goggles called Vision Pro at a time when the Metaverse hype has faded. Although Vision Pro has yet to be received well in the market, VR tech designed by Apple puts weightage behind this emerging tech.   

## Final thoughts 

Metaverse may not be as big a trend as in 2021, but it is gradually taking shape. Many Metaverse companies are investing heavily directly or indirectly in various related projects. These companies involve some of the big techs like Meta, Google, Apple, and Microsoft. 

Various [video gaming platforms](/news/article/what-is-gamefi) like Epic Games and Roblox are also interested in creating 3D spaces. All these facts mean we are moving towards a world with both physical and digital realities. 

person using a VR headset to use metaverse

7 Metaverse companies you should keep an eye on 

The fashion industry is among the earliest endorsers of [Metaverse tech](/news/article/what-is-the-metaverse), embracing its related technologies in various ways in recent years, including Metaverse Fashion Week. It allows fashion brands to interact with their customers in a more engaging manner. They can now introduce Web3 games, clothing NFTs, immersive shopping, and more to increase customer engagement. 

Metaverse also paved the way for [virtual fashion shows](/news/article/queens-of-the-metaverse). One such event was organised by Decentraland is the [Metaverse Fashion Week](https://mvfw.org/). Let's explore what it was all about and how brands participated. 

## What is Metaverse Fashion Week (MVFW)? 

One of the leading decentralised Metaverse platforms, [Decentraland](https://decentraland.org/), introduced a unique fashion event in 2022. It is an annual event that celebrates creativity in the fashion industry by showcasing digital wearables in virtual spaces. Famous designers and brands from the global fashion scene take part in it and exhibit their unique collections in their virtual stores.  

MVFW is a one-of-a-kind immersive show that connects multiple Metaverses so that a wider audience can enjoy it. The event extends over four days that includes various fun activities for fashionistas. Aside from the runway shows, the MVFW covers informative panel discussions, shopping in 3D virtual stores, immersive games, afterparties, and more.  

The inaugural MVFW took place from 24 to 27 March 2022. The show returned this year and was held from 28 to 31 March.  

## Metaverse Fashion Week 2023 (MVFW23) 

This year the MVFW event was primarily hosted by Decentraland. But since the organisers focused on interoperability, it also featured on two other Metaverses; Spatial and Over. The first one is a Metaverse platform specifically built for brands, where they can sell their products in a creative way. The second is an innovative decentralised Metaverse layer. It allows you to work with augmented reality to display objects in the physical world. 

The fashion week featured all the renowned brands like Coach, Tommy Hilfiger, Adidas, Dolce & Gabbana, Balenciaga, and others. The four days were packed with various runway shows, parties, and panel discussions. Aside from that, there were other fun events like theatres, guided tours, yoga sessions, fashion operas, exhibitions, and whatnot. According to Decentraland, there were more than 120 events in the week.  

The map of the event featured a new architecture named Neo Plaza, from where you could begin exploring different events in MVFW. It included virtual stores of all the brands that participated in the event. All the catwalk shows took place in the Luxury District. 

## Highlights from the MVFW23  

Here are some of the major highlights from Decentraland's virtual fashion show: 

- Metaverse interoperability was a first at the event, showing how multiple Metaverses can offer similar experiences simultaneously. However, it did not allow the users to go from one platform to another with the same avatar.  

- Around 26,000 users attended the MVFW23 event, as per Decentraland. The firm also claimed that around 50% of these users entered its Metaverse for the first time. 

- Neo Plaza was a new addition to this year's event, and users could enjoy a guided tour of the Plaza to explore the virtual spaces and experiences from different brands. 

- You can shop digital assets from the DCL Marketplace through your debit/credit card via Tansak.  

- More than 60 global brands participated in the MVFW23 and created numerous interactive experiences for their customers. 

- Decentraland also claimed that during the span of the event, around 72,000 sessions were logged in.  

- The virtual fashion week featured the first opera show in a 3D virtual world. 

## Decentraland users’ lack of interest in the MVFW23 

Even though the event was quite successful for the brands as they created innovative spaces, games, and experiences to engage with their customers. However, the number of users who joined the event was much lower compared to last year.  

A Metaverse analytical firm, GEEIQ, studied that the number of users dropped massively this year by 92%. According to the firm, only 9,000 unique users entered Decentraland's MVFW23. However, in 2022 a total of 108,000 users explored the events. One of the prominent reasons behind it is the declining hype for Metaverse.  

In March 2022, more people were intrigued by Meta’s idea of a digital world. But now the dynamics are different as Meta and other Metaverse companies have not had any significant breakthroughs. Besides, a new tech trend, AI, has stolen the limelight from Metaverse in 2023. Therefore, the masses are not as involved in 3D worlds as before. 

## Final thoughts 

Decentraland’s MVFW is an innovative annual festival for global fashionistas. It offers leading brands a platform to showcase their digital assets in an intriguing way. It also allows them to enhance customer experiences by offering immersive shopping stores and many fun activities.  

In 2023, Metaverse Fashion Week introduced unique features like interoperability, distinctive architectures, and special events. These features can be the stepping stones for the future of Metaverses and the fashion industry. 

Pink metaverse fashion week website and model

Exploring the Metaverse Fashion Week 2023 

Tom Brady, a beloved US National Football League (NFL) figure, has found himself entangled in a significant financial predicament. Recently, documents related to the [FTX bankruptcy case ](/news/article/ftx-bankrupt-who-to-blame)revealed that Brady had invested substantial funds in the now-collapsed crypto exchange. Unfortunately, these funds have now become nearly worthless following the bankruptcy filing. 

Various media outlets, including The Insider and Bloomberg, have reported that Tom Brady held approximately 1.1 million FTX shares. Additionally, reports indicate that Gisele Bündchen, Brady's former wife and a renowned supermodel, also had a significant investment, owning approximately 680,000 shares in the exchange. 

This article explores the journey of Tom Brady, once an ambassador for FTX, and how he lost a considerable number of shares in the exchange. We will also assess the potential for the recovery of these funds. 

## Tom Brady FTX affiliations 

Since 2021, former NFL player Brady has served as the ambassador for the now-insolvent crypto exchange FTX. His ex-wife, Gisele Bündchen, has also been associated with the company. Together, they have participated in various [advertising campaigns promoting FTX services,](https://web.archive.org/web/20230111152240/https:/www.youtube.com/watch?v=_aCGMyrFn-8&t=55s) which have faced significant criticism from the crypto community. 

![FTX Tweet screenshot from 2021. Shows Tom Brady and his wife and announces they are to be FTX ambassadors. ](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_07_17_at_09_34_48_5f7d387508.png)

Investors hold the couple responsible for intentionally encouraging people to invest in the crypto firm, leading to a lawsuit, as reported by [Business Insider](https://markets.businessinsider.com/news/currencies/tom-brady-shaquille-o-neal-golden-state-warriors-ftx-lawsuit-2023-5). The lawsuit was filed in November 2022 and included several other prominent figures from the sports and entertainment industries. 

On May 11, 2023, an amended complaint was filed in the Florida District Court. Reports suggest that Dan Friedberg, the former chief compliance officer of FTX exchange, is cooperating with the lawyers and providing valuable information regarding the FTX promotional campaigns. Friedberg's involvement indicates that a substantial portion of the campaigning occurred in Florida. 

Initially, some defendants claimed that the promotional activities were unrelated to Florida. However, with Friedberg's statement, the class action lawyers now have evidence to challenge the defendants' claims. Currently, the legal proceedings for the case are underway in the Florida District Court. 

## Can Tom Brady FTX shares be recovered? 

Brady and his former wife, Bündchen, possessed a combined total of approximately two million devalued shares. Before the [collapse of FTX](/news/article/ftx-collapse-blockfi-suspend-withdrawals), these shares held a considerable value in the millions. Forbes estimated Brady's claims to be [worth around $45 million](https://www.forbes.com/sites/chasewithorn/2022/11/10/exclusive-these-investors-stand-to-lose-the-most-from-ftxs-implosion/?sh=39ec68862670) and Bündchen's shares to be approximately $25 million. However, as [Sam Bankman-Fried](/news/article/former-ftx-ceo-sbf-arrested)'s firm faced mounting losses, the value of these shares plummeted. 

Currently, the chances of stakeholders fully recovering their funds are improbable. The downfall of FTX resulted in a loss of approximately $32 billion, with only [$7.3 billion](https://www.reuters.com/technology/bankrupt-crypto-exchange-ftx-has-recovered-73-bln-assets-attorney-2023-04-12/) having been recovered thus far. Given this significant disparity, it is unrealistic to expect all stakeholders to be able to [retrieve their assets](/news/article/ftx-news-assets-recovered). 

## Other celebrities who lost funds in the FTX collapse 

Brady and Bündchen are not the only high-profile individuals involved with [Sam Bankman-Fried's bankrupt exchange](/news/article/sam-bankman-fried-lost-billions). A roster of celebrities from the sports and entertainment worlds became investors in the company prior to its insolvency. Notably, Robert Kraft, the owner of the New England Patriots, held approximately 630,000 common shares in the firm. 

The sports industry features other notable names, including Golden State Warrior's basketball player Stephen Curry, former NBA player Shaquille O'Neal, baseball player David Ortiz, and tennis player Naomi Osaka. 

In addition to sports personalities, the list of celebrities affected by FTX's collapse includes renowned comedian Larry David, entrepreneur Kevin O'Leary, and numerous others. 

## Final words 

Tom Brady, a legendary NFL player with seven Super Bowl championships under his belt, made headlines when he joined the FTX crypto exchange as an ambassador in 2021. Alongside his then-wife, Gisele Bündchen, Brady actively promoted the exchange's services. 

Not only did he lend his influence, but he also made significant investments in the form of 1.1 million common shares, valued at a staggering $45 million. 

Unfortunately, as the exchange encountered insolvency, the value of these shares plummeted, putting Brady's substantial investment at risk of significant loss. Brady is now facing a lawsuit about his promotion of FTX services, further complicating his involvement with the exchange. 

red image of Tom Brady from the NFL looking confused with FTX app on a phone

Tom Brady FTX ambassador may lose 1.1m shares

Tectonic, a cryptocurrency lending and borrowing DeFi platform, was launched in 2021. Operating as a market protocol, users can borrow and lend digital assets while earning high yields. The platform's protocol is built on the [Cronos blockchain](https://cronos.org/), a project developed by Crypto.com, one of the leading exchanges.  

Over the past two years, the project and its native token have garnered significant attention in the market. If you are contemplating whether Tectonic crypto suits your needs, this article is tailored for you. 

## What is Tectonic crypto (TONIC)? 

TONIC serves as the native token of the [Tectonic](https://tectonic.finance/) DeFi platform and is pivotal in facilitating instant loans. As a CRC20 token, it governs various protocol aspects, encompassing network security and maintenance. Moreover, the lending platform utilises TONIC tokens to incentivize users, with a portion allocated to the project team. 

Acquiring TONIC tokens is possible through several avenues, which include: 

- By participating as a lender or borrower on Tectonic, you have the opportunity to earn TONIC tokens as liquidity incentives. 

- Users can generate revenue via the protocol by staking TONIC tokens to obtain xTonic. 

- Tectonic offers a Vault feature where you can lock your tokens and earn rewards in return. 

- TONIC tokens can be purchased from various exchanges, [such as Hotbit](/news/article/hotbit-exchange-get-started), Crypto.com, or VVS Finance, where they are listed for trading. 

## Tectonic crypto tokenomics 

The Tectonic money market has introduced a total of 500 trillion TONIC tokens. According to [CoinMarketCap](https://coinmarketcap.com/currencies/tectonic/), there are currently 224,918,813,284,285 TONIC tokens circulating in the market, with a [market capitalization](/news/article/what-is-market-cap-cryptocurrency) of $34 million. It's important to note that the project reported this data and it has not been independently verified. 

The 500 trillion tokens are distributed among various categories by the project developers. The largest portion, accounting for 50.9%, is allocated as incentives for community members participating in staking and liquidity mining. The second largest segment, comprising 23%, is reserved for the project's team. 

Furthermore, 13% of the tokens are designated for ecosystem reserves, which will be used for developmental initiatives within the ecosystem. Another 13% is allocated for network security and maintenance. Finally, 0.1% is set aside for TONIC token airdrops. 

## Is Tectonic crypto legit? 

Tectonic crypto demonstrates legitimacy through its development as a fork of the reputable Compound protocol, renowned for its strong security measures. 

The project has undergone audits by leading blockchain security auditors, including [Slowmist](https://www.slowmist.com/) and [BlockSec](https://blocksec.com/), ensuring the integrity of its smart contract and operating model. The most recent audit report was published in April 2023. 

In addition to prioritising smart contract security, the project developers are also working towards introducing an insurance fund. To facilitate this, 10% of the interest paid by borrowers will be allocated to the fund. The purpose of this fund is to provide coverage for defaulted loans when the collateral is insufficient. These measures indicate that Tectonic crypto is operating legitimately. 

However, there are a few aspects that raise concerns among investors. Firstly, there is the issue of unverifiable data, including figures such as market capitalization and circulating supply. Secondly, Tectonic is an unregulated asset only available on limited exchanges. As a result, investments in Tectonic carry a high level of risk. 

## Tectonic crypto price prediction 

According to price forecasts provided by CoinCodex, the sentiment for the TONIC crypto is currently bearish, with a neutral fear and greed index. The prediction suggests that the price of TONIC may drop to $0.00000008539 in the next month, representing a decline of over 44%. CoinCodex analytics indicate that more than 24 technical analysis indicators show bearish signals, while only 6 indicate bullishness. 

Looking at long-term price predictions, [DigitalCoinPrice](https://digitalcoinprice.com/forecast/tectonic) forecasts that the coin will average around $0.000000327 throughout 2023. The highest projected price for the crypto is anticipated to be $0.000000332, with a potential lowest value of $0.000000136. 

Predictions for 2025 suggest that the coin's price may increase to $0.000000520, with a maximum potential of $0.000000556. The projected minimum value for TONIC in 2025 is $0.000000450. 

If we consider the growth of TONIC until 2030, the forecast from DigitalCoinPrice suggests it may reach up to $0.00000158. The average price is expected to be $0.00000154, with a potential minimum value of $0.00000148. 

## Is there a future for Tectonic crypto? 

Tectonic is a relatively new DeFi project still in its early stages. Unfortunately, current price predictions and market trends paint a discouraging picture. The price of TONIC is currently below its 200-day and 50-day simple moving averages, indicating a bearish trend. Forecasts suggest a significant 44% price decline in the next month. Looking ahead to 2030, it is doubtful that the coin will reach a value of 1 cent.  

Several factors contribute to the coin's low price and lack of demand. The absence of a clearly defined utility for the token limits investor interest. Additionally, the need for verified data and numerous underdeveloped features raise suspicions about the project.  

Given the decline in trust within the cryptocurrency lending industry following the Celsius network's downfall, investing in TONIC remains risky unless the project developers address these issues. 

Tectonic logo on green image of tectonic plate

Tectonic crypto: Is it a good investment? 

For those involved in non-fungible token (NFT) trading, understanding the value of an NFT index is crucial. An indexer platform serves as a valuable tool for tracking NFT projects and identifying high-potential tokens. 

Think of them as comprehensive databases that conveniently locate tokens across different blockchains. 

If you're interested in exploring top NFT indexer options in the market, you've landed on the right page. This article aims to provide insights into the benefits of NFT indexers and showcase some of the industry's leading choices. 

## What is an NFT indexer? 

An NFT indexer functions similarly to a cryptocurrency tracking platform but focuses on non-fungible tokens. It provides key metrics related to NFTs, such as metadata, contracts, token IDs, ownership details, and transaction history. 

By scanning various blockchains that support digital collectables, the indexer collects and stores this information in a database. It then organises the data in a user-friendly way, enabling users to easily access and navigate the NFT market. 

Whether you're a collector, investor, or developer, an NFT indexer can be a valuable tool. It offers features like searching, filtering, and sorting, facilitating the discovery of valuable NFTs. Additionally, it provides insights into the broader NFT market, empowering users to make informed decisions. 

Moreover, indexers may offer additional services like portfolio tracking, valuation estimates, and monitoring historical sales data. These features contribute to market insights and support traders in their growth. 

Overall, an NFT indexer simplifies non-fungible token adoption by streamlining the analysis and research process, ultimately making it easier for users to navigate and engage with the NFT market. 

## Benefits of an NFT indexer 

Here are the three prominent benefits of using indexers: 

- An indexer can help you track your NFT collection by storing essential information such as market value, ownership history, and metadata. This provides valuable insights for trading and portfolio management. 

- Indexers can identify undervalued NFTs, making it easier for you to evaluate different tokens and spot those with high potential. 

- It enables you to Build applications that interact with NFTs, including marketplaces, games, and wallets.  

Popular NFT indexers available in the market 

Now let's look at the four popular digital collectable indexers available. 

### OpenSea 

[OpenSea](/news/article/largest-nft-marketplace-2023), the largest digital collectables marketplace, offers robust indexing to monitor and track all listed assets. This enables convenient evaluation of projects and assets in one place. Not limited to collectors and investors, developers can leverage OpenSea's indexing to create interactive apps like marketplaces, games, and Web3 wallets. 

### Rarible Indexer 

Rarible is recognised as one of the [premier NFT marketplaces.](/news/article/guide-to-best-nft-marketplaces) It offers a powerful multichain indexer that seamlessly integrates with the Multichain SDK API, enabling data storage from various blockchains. This indexer effectively records necessary NFT actions, including minting, burning, transfers, and other related activities. 

### Unmarshal 

[Unmarshal](https://unmarshal.io/) stands out as a distinctive addition among existing indexers by claiming to introduce "the world's first decentralised indexer". This platform empowers users to develop their DeFi projects and join the Unmarshal ecosystem. Additionally, participants can earn rewards through the platform's staking program.   

### NFTPort 

[NFTPort](https://www.nftport.xyz/) is another platform that offers comprehensive infrastructure and APIs for deploying smart contracts for NFTs. Along with its indexing feature, it enables users to track a token's history, current value, burn, mint, and other related details. Additionally, it provides access to aggregate data from OpenSea, simplifying the process of launching new collections. 

### Final thoughts 

Indexing plays a crucial role in the trading of non-fungible tokens. It allows art collectors and investors to get critical information that may inform your investment decisions. In addition, you can also find undervalued projects or assets that may prove to be profitable.  

There are numerous options available in the market for Indexers that may assist you in trading. Among them, OpenSea, Rarible, Unmarshal, and NFTPort can be ideal choices as they also offer various tools for developers. 

nft indexer image of pink nft tokens in a pile. 

Everything you need to know about NFT indexer tools 

The crypto market is witnessing the success of social mining projects thanks to the growing presence of Web3-based social media platforms. One notable project in this space is the XEN crypto network that focuses on community building based on Satoshi Nakamoto principles. 

The project was set up by Jack Levin and his Fair Crypto Foundation in October 2022. 

This article covers all the details you need to know about XEN crypto. 

## What is XEN crypto? 

[XEN crypto](https://www.xencrypto.io/) is a network built with three main crypto principles: self-custody, decentralisation, and transparency. 

The community-focused platform plans to unite like-minded Web3 developers with an economic system based on its native token. 

XEN token introduces an open-source smart contract on the Ethereum blockchain. It follows the ERC20 token standard and is deployed on around ten blockchains. These include Binance Smart Chain (BSC), Avalanche, and Polygon. 

One of the unique things about the token is that you can mint the token for free. 

The project aims to tackle two critical issues in the cryptocurrency market. The first is overbuying popular cryptocurrencies, and the second is whale accumulation and pre-mining of lesser-known cryptocurrencies.  

## How does XEN crypto work? 

The XEN network works with the Proof of Participation (PoP) mechanism, which allows it to create a fair ecosystem. The consensus mechanism only allows the network participants in the minting of its native token. It means the participants enjoy complete ownership of the network along with self-custody. Moreover, it also helps in maintaining decentralisation on the network.  

The platform also has a unique token distribution and minting system. Anyone can join the network and mint XEN crypto without paying an additional fee. They only need an [Ethereum wallet like MetaMask](/news/article/what-is-metamask-wallet) or Trust to pay for the gas.  

Therefore, you do not necessarily have to buy the tokens from an exchange. Instead, you can mint them by integrating your wallet into XEN and participating in PoP consensus.   

## XEN crypto price and tokenomics 

As of 4 July, 2023, one XEN token is valued at only $0.00000146 only, according to [CoinMarketCap](https://coinmarketcap.com/currencies/xen-crypto/). The project claims its market cap is around $19 million, with a circulating supply of over 13 trillion. However, CoinMarketCap has not verified these claims.  

Meanwhile, the token is inflationary as it did not have an initial max coin supply. The PoP protocol participants create its circulating supply, and its value depends on the minting difficulty. However, a few disinflationary measures allow its value to be appreciated over time. One is to increase the minting difficulty, which makes the token scarce.

## XEN crypto price predictions 

The insights from CoinCodex suggest that it is a highly volatile cryptocurrency. It currently shows more than 10% volatility, with the market sentiment being bearish. Besides, its price is lower than the 50-Day SMA (Simple Moving Average), which is $0.000001735. 

However, CoinCodex predicts that XEN's price may experience an increase of over 40% in the next five days. It may lead its price to $0.000002080, closer to its 200-day SMA. Still, the overall sentiment in the market is expected to be bearish.  

On the other hand, [PricePediction.net ](https://priceprediction.net/en/price-prediction/xen-crypto)shares the yearly forecast for the token. According to it, XEN is expected to average $0.00000182 in 2023 with a max of around $0.00000207. Till 2025, the token's anticipated average value is $0.00000376, with the highest value of $0.00000463.  

Furthermore, PricePrediction.net predicts that even in 2030, XEN's value will only reach $0.0000232. It indicates that the token's growth will be sluggish in the coming years.  

## Is XEN crypto a good investment?  

XEN's crypto price predictions for the next seven years suggest restrained growth, largely relying on a rise in network participants for price appreciation within its PoP protocol. However, if the project is unsuccessful in gaining traction, XEN's value will likely remain bearish. 

Furthermore, the token's current use cases are unclear, contributing to a discouraging long-term outlook. Therefore, exercising caution and conducting thorough research is crucial if considering an investment in XEN. 

All you need to know about XEN crypto 

The fashion industry has embraced the virtual world with remarkable success in the modern era. Before the Queens of the Metaverse event, renowned brands such as Gucci, [Louis Vuitton](/news/article/louis-vuitton-nft-review), Balenciaga, Dolce & Gabbana, and others had demonstrated how fashion can flourish in the digital realm. The convergence of technology and fashion is opening up new avenues for innovation and creativity. 

Meta (previously known as Facebook) organized a unique virtual drag show in London last year. This article aims to delve into the details of this event, exploring what it entailed and whether Mark Zuckerberg's vision of[ the Metaverse](/news/article/what-is-the-metaverse) lived up to its considerable hype. 

## Queens of the Metaverse - What is it? 

![screenshot from Queens Of The Metaverse competition](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_07_06_at_16_16_20_b7c1aa4a9f.png)

[Queens of the Metaverse](https://about.fb.com/news/2022/09/queens-of-the-metaverse-the-first-ever-mixed-reality-drag-show/) was the first drag show in the Metaverse using mixed reality. The virtual drag show was powered by Meta and held on 8 September, 2022, in London. It featured emerging digital fashion designers who used virtual reality (VR) and augmented reality (AR) to design garments. The show also aimed to promote queer creativity. 

The show aimed to showcase how VR and AR can help create immersive and interactive experiences. For this reason, the designers opted for tools such as digital avatars, virtual design technology, Horizon Workrooms, and others. They came up with three costume designs and then turned them into physical outfits.  

Three creative fashion designers were part of this virtual show. Nwora Emenike, Christie Lau, and Sal Mohammed were the designers, and they represented the LGBTQ+ community. Three drag artists wore their Metaverse-inspired outfits and walked on the ramp.  

## Drag queens on the virtual drag show 

The drag queens for Meta's show include three renowned names in fashion. They are:  

- Blu Hydrangea - They are the prizewinner of the "RuPaul's Drag Race: UK vs. The World" show and wore the costume designed by Nwora Emenike.  

- Tia Kofi - They are known for their pop music and appearance in season 2 of “RuPaul’s Drag Race: UK vs The World” show. 

- Adam All - A non-binary British drag king. They wore an outfit designed by Christie Lau. The outfit was a classic two-piece that depicted hyper-masculine features. 

Overall, the costumes of the drag queens on the show portrayed the themes of gender identity and expression. According to the designers, their experiences as members of queer community inspired these designs. Also, they noted that the [AR/VR tech ](/news/article/metaverse-vr-project-guide)and Metaverse provided them with a platform to experiment with their designs. 

## Meta’s Metaverse isn’t fully developed yet 

Although Meta's mixed reality drag show has created a new genre, Metaverse still has [a long way to go](https://www.independent.co.uk/voices/tia-kofi-queens-of-the-metaverse-drag-race-b2161623.html#comments-area). Meta shared a two-minute video clip of the show, which showed artists and designers expressing their opinions and experiences.  

Unfortunately, the video seemed too basic and did not depict how Metaverse tech is actually being used for the drag show. Besides, the use of AR and VR was far from what one would expect from a virtual world.  

The Independent published a piece by Tia Kofi where they wrote, “While it’s clear that the metaverse is in its early stages, I’ve been amazed by how prominent queer talent, creatives, designers, and technicians are in bringing their star power to its development.”  

So, even though the creativity of the drag acts and designers was notable, Meta’s Metaverse itself failed to leave a mark.     

## Final thoughts 

In today's digital age, the fashion industry is harnessing the power of new technologies to drive innovation. A notable example of this is Meta's mixed reality drag show in the Metaverse, which provided a platform for artists and designers from the LGBTQ+ community to showcase their creativity and self-expression. This event highlights the growing role of the Metaverse as a medium for fostering artistic expression and pushing the boundaries of creativity. 

purple image of drag queens in the metaverse

Queens of the Metaverse Explored 

2022 was a tumultuous year for cryptocurrency firms as they navigated a deadly winter with fierce crypto contagion. Celsius, a crypto lending firm, was among the first to get deeply affected and thrown in the towel by filing bankruptcy in mid-2022. 

The Celsius bankruptcy case is nearing its conclusion as it has chosen a bidder to acquire its assets. 

In this article, we will explore the firm's future and what developments are expected in its offerings. 

## Fahrenheit wins the bidding war for Celsius assets 

Fahrenheit's crypto consortium won [the bidding war ](https://cases.stretto.com/public/x191/11749/PLEADINGS/1174905252380000000034.pdf)and acquired the bankrupt firm's assets on 25 May, 2023. 

It needed to deposit $10 million in cash within three days to acquire $2 billion worth of digital assets. These assets include staked cryptocurrencies, the mining unit, a loan portfolio, or any other investments of the Celsius crypto network.   

The Fahrenheit consortium includes two buyers; Arrington Capital, the venture capital firm, and the US Bitcoin Corp, a miner. It competed against NovaWulf and the Blockchain Recovery Investment Consortium (BRIC). Coinbase, Gemini, and Goldman Sachs were [also interested in the Celsius acquisition earlier.](/news/article/crypto-bubble-chart)  

Initially, NovaWulf was the top contender to acquire the assets, but its bid eventually lost. Meanwhile, the bankrupt lending firm has chosen BRIC as its backup. BRIC comprises Van Eck Absolute Return Advisers Corp and the GXD Labs. So, if Fahrenheit does not come through, there will be a backup for the lending firm.  

## A background of Celsius crypto network bankruptcy 

Celsius was one of the leading lenders in the crypto world in 2021. However, its involvement with Terra was risky for the firm and its users. In June 2022, after the Terra-Luna collapse, [Celsius halted withdrawals, swaps, and transfers](/news/article/celsius-crypto-freezes-withdrawals) as a speculation of the market. Later, it also faced accusations from ex-employees of fraud. 

In July 2022, it finally filed for [Chapter 11 bankruptcy](/news/article/celsius-bankruptcy-protection) in the US court. The decision was made after the lender went through a run as its withdrawals surged. The firm's collapse proved quite dreadful for the cryptocurrency market and affected many other venture capital companies, exchanges, and lenders.  

The lender formally began its auction in April 2022 to find a suitable buyer to guide it out of insolvency. And now Fahrenheit consortium might be able to manage its lending and mining businesses.    

## Will Celsius customers get their money back? 

Justice Martin Glenn, who was hearing the bankruptcy case, had announced in March 2023 that the Celsius users might receive a percentage of their deposited assets back. According to [a report by CryptoPotato](https://cryptopotato.com/celsius-customers-will-receive-up-to-72-5-of-their-crypto-back/), eligible customers may receive up to 72.5% of their funds back.  

The Custody account holders can claim their money, but the Earn investors are not eligible. If the customers want a complete 100% refund, they have the option of further litigation. Others can claim their funds in two parts, both consisting of 36.25%. Account holders can claim the first part upfront, whereas the second part can be received by the end of 2023 or in 2024. 

The Fahrenheit consortium will assist the refund procedure. It would provide its management team and capital to distribute the funds to account holders.  

## Will the Celsius crypto recover? 

As of writing, the CEL token's price is $0.2157 only, which has dropped by more than 70% within a year. The token was trading at $8.02 in 2021, but the market downturn of 2022 affected its price. 

The acquisition by Fahrenheit might bring an end to the insolvency struggles of the network. However, the future of Celsius crypto remains uncertain.  

The main reason behind it is the debts of the firm and its reputation. As of now, the NewCo has to deal with the debts first and refund the customers, so more investments in its crypto are unlikely. Besides, investors are hesitant to invest in the CEL coin because of the overall image of the cryptocurrency lenders in the market. 

celsius crypto logo on blue image of cryptocurrency coins

What’s the future of the Celsius crypto network? 

Since 2021, news has been circulating in the crypto market about the launch of the Amazon digital currency. 

Amazon Inc. is one of the leading American multinational firms known for its e-commerce and cloud computing services. Its entrance into the crypto market can be a game changer that may lead to various blockchain innovations. An Amazon token may compete with popular cryptocurrencies like Bitcoin and Ethereum.  

However, as of now, concrete information regarding its release date or presale still needs to be made available. If you have questions such as "Where and how can I buy Amazon crypto currency?" or "When will the coin be launched?" this article provides the answers you seek. 

## Can we expect an Amazon crypto currency to launch in 2023? 

For two years, the crypto market has been buzzing with many questions about the launch of a crypto coin project from the e-commerce behemoth. 

Many news outlets have reported that the company wants to introduce its own crypto. However, the company has [not confirmed anything yet](/news/article/amazon-cryptocurrency).  

The company has been mum so far. There is no official statement regarding the project's progress and when and if the company is releasing it. Therefore, it is highly unlikely to release the coin in 2023. 

Various analysts also dubbed the alleged AMZ crypto's presale a scam. Reportedly, fraudulent actors behind this project are tricking the investors into buying a fake asset to acquire their funds illegally. Therefore, proceeding with due diligence is advisable if you want to invest in the token. 

## Why are there rumours about an Amazon crypto currency launch? 

One might wonder why so many rumours surround the Amazon crypto coin presale. There are three main reasons behind it reflecting the company's interest in the blockchain and crypto industry. These include: 

### Job posting for a blockchain and digital currency expert 

The rumours of this launch started in 2021 when the firm showed interest in the crypto industry by posting a job ad. It was looking to hire a digital currency and blockchain expert to supervise its projects. However, the company did not mention the specifics of the project. 

The company offers managed blockchain services, and this job posting was probably related to it. Nonetheless, the scammers might have used this news to propagate the concept of the AMZ token. 

### Partnership with Avalanche 

Another reason that suggests the firm's engrossment with the industry is its partnership with [Ava Labs](https://medium.com/avalancheavax/ava-labs-and-aws-bring-scalable-blockchain-solutions-to-enterprises-and-governments-295040a34263). The Avalanche blockchain uses AWS tools to build several features for its DApp ecosystem. The e-commerce giant's alliance with the blockchain network is significant. 

It is another reason that people expected a crypto token from Amazon. However, the company so far has not confirmed whether it is working on a cryptocurrency or not. 

### Potential NFT marketplace 

Besides the AMZ token, several reports suggest that the company is planning to launch a non-fungible token (NFT) marketplace. [Yahoo Finance UK reported ](https://uk.finance.yahoo.com/news/amazon-launch-nft-marketplace-crypto-cryptocurrency-bitcoin-ethereum-web3-blockchain-112832271.html)on 7 March, 2023, that the company is looking to introduce an NFT marketplace in April. The report further claimed that the digital marketplace may include NFTs of clothing or other fashion accessories. 

Meanwhile, a renowned NFT collector, Moritz, also shared a detailed thread on Twitter regarding this digital marketplace. He maintained that "it is huge for Web3". 

Furthermore, he claimed that the marketplace will be easy to use and not require a deep understanding of blockchains or wallets. 

Nevertheless, as of writing, this news has yet to be confirmed by Amazon, and the Moritz thread acknowledged it.  

## Can Amazon step into the crypto market? 

The cryptocurrency market can offer various opportunities for a tech giant like Amazon. Here are some reasons why it may consider entering the market: 

- To create a more convenient method for customers to buy and sell cryptocurrencies. 

- To compete with other major retailers that are already accepting cryptocurrencies. 

- To generate new revenue streams from crypto trading and mining. 

- It may allow it to compete with other tech giants already involved with crypto. 

## Is AMZ coin really a scam? 

Our research suggests that AMZ coin is a potential scam project using Amazon's reputation to swindle money from investors. There is no particular source that suggests Amazon's affiliation with this project. There's also almost no information about the token on platforms like CoinMarketCap or Coingecko. Besides, Amazon’s silence on the matter creates further confusion. 

Nevertheless, the company's continued hiring of crypto-related talent and partnerships with blockchain firms suggests it is considering stepping into the crypto market. But, until the company itself does not confirm anything, it will remain a risky investment. 


Amazon crypto currency: Will it launch in 2023? 

In 2022, a harsh crypto winter caused substantial losses for investors, undermining trust and creating uncertainty. However, there is now a glimmer of hope as the market gradually shows signs of recovery, with Bitcoin, Ethereum, and other cryptocurrencies exhibiting some stability. Considering current affairs, investing at this juncture can be a prudent choice. If you're seeking the best crypto currency to invest in today, we present the top seven options to consider. 

## 1. Bitcoin (BTC) 

Undeniably, Bitcoin is the premier cryptocurrency globally, enjoying the advantage of being the first mover among its peers. Because of its dominance, many consider it the 'best crypto currency'. Introduced by Satoshi Nakamoto in 2009, it shaped the blockchain industry and revolutionised the concept of currency.  

At its inception in 2009, the value of one BTC stood at a mere $0.00099. Over the following years, Bitcoin made steady progress, with its price crossing the $500 mark in 2016, a significant milestone for a virtual currency. However, it was in 2017 when the price of Bitcoin experienced an explosive surge. As of June 2023, one Bitcoin is trading at approximately [$25,000.](https://coinmarketcap.com/currencies/bitcoin/)

This upward trajectory showcases the immense [potential of Bitcoin](/news/article/will-bitcoin-go-back-up) as a long-term investment. Furthermore, with a maximum supply of 21 million Bitcoins, their scarcity is expected to drive their value further. 

## 2. Ethereum (ETH) 

After Bitcoin, Ethereum stands as the second most prominent cryptocurrency and, for many altcoin enthusiast, the best crypto currency. The Ethereum blockchain has played a pivotal role in transforming the industry through its innovative smart contracts and significant impact on the non-fungible token (NFT) market. This has made Ethereum a favourite among developers and investors alike.  

[ETH ](/coins/eth)debuted in 2015, initially priced at a mere $0.4. However, it has experienced substantial growth for the past eight years and is currently trading at approximately $1,900. This remarkable surge equates to an astounding percentage growth of 474,900%.

## 3. Tether (USDT) 

Tether is yet another prominent cryptocurrency worth considering for investment. As a stablecoin, Tether is pegged to the value of the US dollar, ensuring that it maintains a consistent and stable worth. The primary objective of utilising stablecoins such as USDT is to safeguard your funds against the inherent volatility of the crypto market. 

[USDT](/coins/usdt) has established itself as one of the most widely used and trusted stablecoins, boasting an impressive market capitalisation of approximately $83.2 billion. 

## 4. Binance Coin (BNB) 

[Binance Coin](/news/article/guide-to-binance-uk), commonly referred to as BNB, is an initiative by Binance, one of the largest cryptocurrency exchanges worldwide. The coin was introduced in July 2017 as part of Binance's Binary Finance initiative to advance its offerings. Built on the [Binance Smart Chain (BSC)](/news/article/bnb-price), BNB plays a pivotal role within the Binance ecosystem, collaborating with various blockchain projects. 

BNB's association with numerous blockchain initiatives on the Binance exchange sets it apart from other cryptocurrencies. This affiliation grants the coin increased exposure to the market, capturing the interest of investors. 

During its launch, BNB was priced at a mere $0.09, steadily increasing in value over time. While its price remained below $50 following its 2020 launch, it gained significant momentum during the bullish cycle of 2021. The coin holds a market value of $306.30, boasting a market cap surpassing $47.7 billion. 

## 5. US Dollar Coin (USDC) 

USD Coin ([USDC](/coins/usdc)) is a widely recognised stablecoin in the market. It [shares similarities with USDT](/news/article/usdc-vs-usdt) as it is also pegged to the US dollar, ensuring price stability. The coin was introduced in September 2018 by The Centre consortium. Its purpose aligns with other stablecoins, aiming to address volatility concerns and create a secure ecosystem for users in the realm of decentralised finance (DeFi) and Web3 gaming. 

As of 5 June, 2023, the market capitalisation of USDC amounts to a substantial $28,911,645,575, positioning it as the fifth-largest cryptocurrency in the market. 

## 6. Cardano (ADA) 

Cardano's blockchain and its cryptocurrency [ADA ](/news/article/ada-price-in-gbp-conversion-analysis)are renowned for innovation in the crypto market. With a strong commitment to environmental sustainability, Cardano incorporates energy-efficient practices and actively supports eco-friendly initiatives - for example, collaborating with [Veritree and Samsung](/news/article/cardano-samsung-climate-change) for a climate action initiative. This environmental focus has contributed to the growing popularity of ADA. 

The Cardano blockchain has expanded its ecosystem to include NFTs, DeFi projects, GameFi, and more. This diverse and evolving ecosystem positions ADA as one of the strong contenders for best crypto currency. 

## 7. Dogecoin (DOGE) 

[Dogecoin](/coins/doge) is a cryptocurrency that has gained notoriety primarily due to market hype. Originating as a meme coin, it captured the attention of crypto enthusiasts, especially after receiving endorsements from prominent figures like Elon Musk, the owner of Twitter and Tesla. One of the distinguishing factors of DOGE is its dedicated community, known for creating humorous DOGE memes. 

At time of writing, Dogecoin's price stands at a modest [$0.06](https://coinmarketcap.com/currencies/dogecoin/). However, its market capitalisation exceeds $10 billion, indicating its significant popularity among investors. As a result, DOGE holds the potential to emerge as a prominent cryptocurrency in the future. 

## Final thoughts 

If you seek the best cryptocurrency for investment, consider the seven options we mentioned. Note, however, that this does not constitute investment advice but serves informational purposes. 

Remember that all investments carry risks, so employ risk management strategies and conduct thorough research. 

Before making any investment decisions, establish your investment goals and devise long-term and short-term strategies. 

Assess your risk tolerance and only invest what you can afford to lose. If you are still determining the suitability of these cryptocurrencies, consulting a financial advisor is a wise step. 

The best cryptocurrency to invest in 2023 

If you're new to crypto trading, chances are you've recognised the significance of a digital or blockchain wallet when it comes to storing, managing, and safeguarding your crypto assets. But what precisely is a wallet, and how does it ensure the security of your cryptocurrencies? 

Let's explore the core principles behind blockchain wallets, their functionality, and the various types of wallets accessible in the market. 

## Blockchain wallet explained 

A blockchain wallet serves as a digital vault for securely storing your cryptocurrencies and other digital assets. Since cryptocurrencies exist as unique forms of assets on the blockchain through cryptographic methods, they cannot be held in a conventional bank account. Hence the importance of blockchain storage becomes paramount, providing a platform for the safekeeping and trading of crypto. 

Unlike traditional wallets, crypto wallets do not store physical currency or rely on centralised institutions. Instead, they harness the power of distributed ledger technology (DLT), which establishes a decentralised system for recording all transactions across a network of computers in a secure and transparent manner. 

However, it's important to note that a wallet does not directly store cryptocurrencies. Rather, its purpose is to safeguard the private key associated with your crypto assets. This aspect often proves to be the most perplexing for beginners trying to grasp the concept of digital wallets. 

Now, let's delve into how these virtual wallets function and ensure the security of assets through private keys. 

## How does a blockchain wallet work? 

To understand how wallets function, it is essential to grasp the various components of storage involved. These components primarily include a public key and a private key. Think of the public key as analogous to your bank account number. Your blockchain wallet address is derived from this key, and you can freely share it with others to enable them to send cryptocurrency to your address. 

A public key or address's primary purpose is to indicate your assets' specific location on the blockchain ledger. 

Conversely, the private key is akin to the password for your account, comprising a 256-bit number consisting of 64 digits and alphabets. This key grants access to your assets on the blockchain. Given its significance, it is crucial to protect the private key diligently, as anyone who gains access to it could manipulate your crypto. 

Consequently, a [wallet](/news/article/best-crypto-wallet) secures your cryptocurrency by safeguarding the private key, which grants access to your assets. 

## The different types of blockchain wallets 

Blockchain wallets can mainly be categorised in two ways; the first is based on their warmness, and the second one is their custody. Now, let’s find out what the warmth and custody of crypto storage refer to.   

###  1. Warmness: Hot vs. cold wallets 

The warmness of a crypto wallet refers to the ratio between the convenience and security of a wallet. The main feature that decides convenience and level of security is the availability of the internet. Based on this, crypto storage is divided into hot and cold.  

When cryptocurrency storage is always connected to the internet, it will be referred to as a hot or software wallet. These wallets make trading cryptocurrencies easy, as you can access your assets from anywhere. Some examples of hot wallets include [MetaMask,](https://metamask.io/) [Trust](https://trustwallet.com/), and [Coinbase Wallet](https://play.google.com/store/apps/details?id=org.toshi&hl=en&gl=US&pli=1).  

In comparison, there are cold wallets, which are hardware storage devices for keeping digital wallets. These devices can work offline, which makes them less vulnerable to cyberattacks. Some of [the best cold crypto wallet options](/news/article/best-cold-crypto-wallet-uk) include [Ledger Nano X](https://shop.ledger.com/products/ledger-nano-x), [Trezor Model T](https://trezor.io/trezor-model-t), and [Safepal 1](https://www.safepal.com/en/).  

### 2. Custody: Custodial vs. non-custodial wallets 

The second categorisation of cryptocurrency storage is based on custody. The custody of cryptocurrencies refers to the actual ownership and control over the assets. Typically they fall into two types that are; custodial and non-custodial wallets.  

A custodial wallet is usually offered by the cryptocurrency exchange or brokerage itself. These wallets are simple to use and let you start with crypto trading easily. However, the control and custody of your assets remain with the provider. 

On the other hand, there are non-custodial wallets that enable greater control over your assets. You are responsible for protecting the private key and can trade your assets anytime. For an example of the differences between custodial and non-custodial wallets, [compare the Coinbase.com storage with the Coinbase Wallet](https://help.coinbase.com/en/wallet/getting-started/what-s-the-difference-between-coinbase-com-and-wallet). 

## Is a blockchain wallet safe? 

A blockchain wallet is widely regarded as a secure method for storing and managing digital assets. DLT introduces a range of security measures that inherently safeguard against tampering and fraud. However, it's crucial to acknowledge that different digital wallets provide differing levels of security and convenience. Consequently, selecting a wallet option that meets your specific requirements is vital. 

To ensure optimal security, it is recommended to consider the "hotness" or "coldness" of the storage. Incorporating both types of wallets into your strategy allows you to maintain security while keeping up with your daily trades. Additionally, implementing security measures such as setting up two-factor authentication (2FA), exercising caution with unknown sources, regularly backing up your wallet, and updating the wallet software can significantly enhance security. 

By adhering to these practices, you can further bolster the security of your digital assets and fortify your overall wallet protection.  

blue image of person opening a blockchain wallet

What’s a blockchain wallet, and how does it work? 

In February 2023, the Bank of England (BoE) and HM Treasury, a department of the UK Government, issued a consultation paper for the potential launch of a retail CBDC. 

It discusses the rapidly evolving payment system and proposes that the Digital Pound might be the future solution for households and businesses. 

A CBDC (Central Bank Digital Currency) is best explained as a digital fiat currency that can be used for everyday needs. The consultation paper suggests that the UK Government believes in and supports the idea of CBDC. The government is currently preparing for the launch of CBDC by evaluating the policy framework and the technology. However, the final decision on its launch is expected in 2025. 

Let's explore the Digital Pound and why the government is so keen to launch it in the country. 

## CBDC UK: Government preparing to launch Digital Pound 

The HM Treasury and the BoE have mentioned in the consultation paper that the CBDC UK is "likely to be needed". It explains that payment systems have become more digitised, and cash usage has dropped significantly in the past decade.  

Additionally, crypto assets have become increasingly popular for investments and cross-border money transfers. It poses a potential threat to the Pound Sterling in the future. Therefore, the government has started to prepare for the launch of CBDCs.  

Many people call the Digital Pound a Britcoin or a digital Sterling. This virtual currency’s main task would be facilitating payments for households and businesses. It will be designed to provide a secure payment method to consumers for their day-to-day tasks.  

However, the [HM Treasury and BoE](/news/article/cbdc-uk) have yet to decide to launch Britcoin. Currently, they are evaluating the technological requirements and other resources that will be necessary to deploy a CBDC in the country. The report says that in the next couple of years, their goal would be to observe innovations in this field while preparing for its launch. We can expect a final decision about its introduction by 2025.  

## How would a Digital Pound work? 

The virtual Sterling will be issued by the UK's central bank, the BoE. You can easily store it on your smartphone wallet and use it for various transactions. There can be further innovations for its usage, like a smart card that could store the value just like a debit or credit card. It may create further ease for consumers as swiping cards would be more convenient. 

Although CBDCs and cryptocurrencies are quite different assets, they both use a core distributed ledger. Users would have to set up their wallets with a wallet operator. Then the wallet operators can use BoE infrastructure through the distributed ledger and offer the digital pounds to the users. 

There are many concerns regarding the state surveillance of user data through CBDCs. The consultation paper addresses these concerns and states that the BoE will act as the centralised authority for the virtual currency. 

However, the paper emphasises that the BoE will not have access to user data. Instead, the responsibility of handling and securely storing data will be entrusted to wallet operators. 

## Why do we need a Digital Pound? 

The consultation paper for the virtual pound has enumerated various reasons why a CBDC has become necessary. Some of them include: 

- The increasing use of cards and digital payments instead of cash. 

- The rising popularity of cryptocurrencies.  

- The high cost of cross-border payments. 

- Ensuring the sovereignty of the central bank and Pound Sterling. 

- Promoting innovation and efficiency in the financial sector. 

These reasons for introducing a virtual currency are valid but mostly reflect the government’s perspective. However, a CBDC can also benefit consumers in various ways. 

- It will make payments more convenient for consumers. 

- It can significantly reduce the cost of money transfers. 

- It may improve financial inclusion by making it easier for people to access and use financial services. 

- Instant money transfer to other countries.  

## What is the CBDC UK Government timescale? 

Central banks globally have been exploring the idea of CBDCs for a long time. The BoE is among one those that started early and completed its initial research in 2022. However, it has announced three phases for a possible launch of its Britcoin. 

In February 2023, it published two papers; The Digital Pound: a [New Form of Money ](https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1160409/CBDC_WEB_PDF_-_1_JUNE_2023_4.20pm.pdf)for Households and Businesses? Consultation Paper and The Digital Pound: [Technology Working Paper.](https://www.bankofengland.co.uk/-/media/boe/files/paper/2023/the-digital-pound-technology-working-paper.pdf) 

This marked the first phase of the Digital Pound roadmap, which has initiated discussions on how CBDC UK can be implemented. Meanwhile, the consultation deadline is 7 June, 2023. 

![chart showing phases of UK CBDC](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_06_06_at_13_15_08_f993c1e5c0.png)

For the second phase, the BoE has given an estimated period of 2023 to 2025. Most of the work on its design and infrastructure will take place in this phase. Finally, the development of prototypes will be done in the last phase, which is expected to be completed by early 2025.  

Only after going through these phases will the HM treasury and BoE decide on the CBDC's launch. So, a retail [CBDC UK Government launch](/news/article/cbdc-bank-of-england) would take several years and is unlikely in the first half of this decade, just as John Glen predicted in 2021.  

## Potential risks of Digital Pound 

Although there are many benefits of CBDC, it poses several risks too. To deploy an infrastructure of CBDC, the UK government needs to overcome the following challenges: 

- State surveillance: It is the most important challenge for the government as it has to ensure consumers the safety of their data and complete control over their funds. 

- Cyber crimes: Distributed ledgers are secure and transparent but can be vulnerable to cyberattacks. Therefore, the government must have a robust CBDC infrastructure.   

- Offline payments: It is another critical area, as internet access is limited in some places, which may cause limitations for consumers. 

- Economic instability: If the Digital Pound became a widely accepted payment method, private banks and firms may suffer financially, which could cause financial instability.  

From reducing money exchange costs to more financial inclusion - a Digital Pound may have many benefits for household and business usage. However, the UK Government must consider potential risks to design a secure CBDC that protects people's privacy. 

UK government building with cbdc coins in foreground and yellow filter

CBDC UK: Government gearing up for Digital Pound 

[Coinberry ](https://www.coinberry.com/)is considered one of the top crypto exchanges in Canada. It launched in 2017 and is among the first to receive authorisation from FINTRAC, the financial watchdog of Canada. 

In April 2022, the firm was acquired by [WonderFi Technologies](https://www.wonder.fi/), which also owns the Bitbuy crypto trading platform. 

The exchange offers a user-friendly and interactive experience for buying and selling digital assets. Coinberry is currently not charging deposit fees and claims to be the best Canadian crypto exchange. In this article, we'll explore why this platform is a viable choice for crypto investors in Canada. 

## Review of Coinberry crypto exchange features 

### 1. Deposit and withdrawal fees 

![screenshot of coinberry exchange fees](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_10_at_16_03_27_c647a3e27a.png)

Coinberry is ideal for deposit fees as it does not charge deposits in Canadian dollars (CAD). You can start with this crypto trading site with a minimal deposit of 50 CAD. The exchange charges 1.5% on withdrawals, which usually depends on network congestion. 

Furthermore, trading cryptocurrencies may incur a percentage of the trading amount. The platform introduces a[ tiered fee structure](https://www.coinberry.com/fees) that defines trade makers’ and takers’ fees according to the amount they traded in the last 90 days. The fee ranges from 0% to 2% for trade makers, whereas for takers, it ranges between 0.10% to 2%. 

### User interface 

The cryptocurrency exchange also delivers convenience and ease of use to its customers. It has an easy-to-navigate platform that you can quickly get familiar with. Furthermore, you can use the browser version or the mobile app, both of which offer an interface where you can buy crypto, monitor their price, and manage your portfolio. 

### Deposit methods 

The exchange mainly has two deposit options: e-transfers or wire transfers. However, the platform only works for Canadians, so it only supports CAD and not other fiat currencies. 

If you transfer money through Interac e-transfer, the minimum will be 50 CAD, and you can deposit up to 10K daily. This type of transfer is much faster than wire transfers which can take up to five business days. 

Currently, Coinberry does not have an option for wallet integration. Therefore, if you want to sell your crypto, you must transfer the amount to the Coinberry address from your external wallet. 

### Choice of cryptocurrencies 

![image of coinberry's choice og cryptocurrencies with purple border](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_10_at_16_03_35_63e99ae33a.png)

As of writing, the exchange allows you to buy or sell around 25 cryptocurrencies. Although the supported coins are far fewer than some of the [top-rated exchanges](/news/article/best-exchanges-for-crypto-uk), it gives you most of the popular options like [BTC](/coins/btc), [ETH](/coins/eth), ADA, [MATIC](/coins/matic), [DOGE](/coins/doge), [LTC](/coins/ltc), and others. If you have a small portfolio consisting of these coins, you can manage it through the exchange.   

### Customer support 

To assist its customers in daily trades, the exchange has an FAQ section that answers customers' questions about managing the account, troubleshooting, and pricing guidance. Additionally, it has a blog where investors, especially beginners, can find valuable information for trading. 

However, reviews for customer support for the platform are mixed on the internet. Many have complained about the non-availability of 24/7 customer service. 

## Is Coinberry safe? 

Coinberry is a well-authorised cryptocurrency exchange that has secured registration from [FINTRAC](https://fintrac-canafe.canada.ca/intro-eng), [OSC](https://www.osc.ca/en), and [PIPEDA](https://www.priv.gc.ca/en/privacy-topics/privacy-laws-in-canada/the-personal-information-protection-and-electronic-documents-act-pipeda/), ensuring its security to customers. Additionally, the platform follows proper [anti-money laundering laws](/news/article/crypto-aml) and knows-your-customer KYCs, making it a secure platform. 

## Coinberry: A reliable crypto trading platform for Canadian investors 

Coinberry is a well-established and reliable cryptocurrency exchange in Canada. Its intuitive and easy-to-use platform, and the support of Canadian financial authorities, make it an ideal choice for Canadian investors who are new to crypto or have a portfolio consisting of popular tokens only.  

While Coinberry’s limited investment options and higher trading fees may not be ideal for some investors, it remains a trustworthy option for those prioritising security and convenience in their crypto transactions. 

To sum up, Coinberry is a platform worth considering for any Canadian looking to invest in digital assets. 

coinberry logo over image of men trading cyptocurrency

Canadian crypto exchange Coinberry review 2023

The cryptocurrency market has witnessed the emergence of various blockchain-based solutions that are disrupting traditional industries in recent years. One such project that has gained considerable attention in the crypto sphere is VeChain's VET coin, built on the [VeChain blockchain](https://www.vechain.org/). 

The VeChain blockchain was launched in 2017, primarily focusing on supply chain management. Over the years, the project's ecosystem has evolved, and it now provides a platform for various businesses to nurture sustainability. 

Here, we will delve into the role of VET coin in the VeChain ecosystem, how it works, and the market outlook. 

## Blockchain and sustainability  

Blockchain technology can have a significant impact on sustainability efforts in various industries. Its decentralised and transparent nature enables more efficient tracking of resources, supply chains, and carbon emissions. Accordingly, an increasing number of projects are introducing blockchain solutions to achieve sustainability goals. 

Blockchain systems can contribute to sustainability in many ways. The most common application is tracing carbon credits, which can help businesses reduce their carbon footprints. Another way is to trace the journey of sustainable products. In addition, blockchains can improve waste management systems and supply chains and even facilitate trading renewable energy. 

Now, let's talk about what VeChain is and how it is working to foster sustainability. 

## What is the Vechain blockchain? 

[Cryptocurrencies often raise environmental concerns](/news/article/environmental-cryptocurrency-concerns), but VeChain is here to prove otherwise. It's a trustworthy distributed platform that offers businesses a solution for ensuring an accountable data flow and providing high-speed transactions. The blockchain was released in 2017 and has since presented three whitepapers. 

According to its first whitepaper, the platform focused on providing supply chain management solutions to businesses. However, the recently presented whitepaper suggests that the platform is evolving into an L1 blockchain that will offer environment-preserving solutions. 

VeChain is a diverse network that has introduced two native tokens: VeChainThor (VTHO) and VeChain Tokens. The first is used for gas or payment transfers, while the second is the utility token used to transfer value. The platform uses a two-token model to mitigate volatility and maintain stability in its ecosystem. 

Leveraging VeChain's environment, businesses can develop decentralised apps (DApps) according to their needs. They can use the blockchain as a platform to store and track service or product information securely. Additionally, it allows customers to track the authenticity of sustainable products. 

## How is Vechain building the blockchain biosphere? 

Vechain is a distributed ledger that is constantly evolving to help enterprises adopt blockchain technology for sustainability. The blockchain offers flexibility, a sustainable economic model, and transparent governance to maintain efficiency and transparency.  

The blockchain introduces a two-token model, which makes it dependable. Besides, there is a Proof of Authority (PoA) consensus method for the blockchain's governance. This consensus mechanism has a set number of verifiers, which improves its energy consumption. It makes the network highly secure and speeds up transactions.  

In late 2022, the network also went through an update that upgraded the PoA to PoA 2.0. There were three main additions to the network, including absolute finality, reduction in risks of disruption, and enhanced efficiency for faster transactions. 

The network's layer 1 blockchain is VechainThor which allows enterprise adoption. It provides an energy-efficient environment, open source, and user-friendly. The chain, along with the PoA 2.0. makes the network scalable, secure, and eco-friendly.  

In addition, the network is designed in a way that it can integrate all Internet of Things (IoT) technologies. It makes the Vechain ecosystem capable of resolving issues like storing large amounts of data. This power allows enterprises from various domains like medical, energy, supply chain, finance, and others to move towards digitised ecosystems.  

Vechain can provide a backbone for enterprises looking to build sustainable products. With its trustless smart contract and the ability to incorporate IoT, Vechain can help enterprises blend the physical world with the digital one, a phenomenon known as "phygital". 

## Features of Vechain 

Here are some of the prominent features of the Vechain network: 

1. Integration with the IoT 

A prominent feature of the Vechain blockchain is its ability to integrate with IoT devices. It can help collect and track data from various devices using IoT technology. 

This power of the VET blockchain makes it suitable for a range of domains, especially healthcare and supply chains. It can help integrate smart contract technology into devices and bring trustless automation. Moreover, you can create an incentivised ecosystem that streamlines all the devices within a network. 

2. An economy based on a dual-token model 

The Vechain network also introduces a dual token ecosystem that depends on VET and VTHO coins. This type of economy is introduced to make the network stable and tackle volatility. Besides, it also allows the network to cut down its energy consumption. 

The two tokens have specific roles in the ecosystem: the VET token covers the utility requirements, and the VechainTHOR token is used for gas costs. This type of model is more efficient than most prevalent single-token models. 

3. PoA consensus mechanism 

The platform uses the PoA consensus mechanism to secure the network and to add new blocks to the chain. It is a version of the Proof of Stake (PoS) mechanism that secures the system by staking tokens. However, the difference here is that PoA has designated verifiers in the network, and they can use their identity to validate transactions. 

Vechain is among the most popular blockchains that use the PoA consensus method. Other noteworthy blockchains that use the method are [Bitgert](/news/article/bitgert-price-prediction), Xodex, and Palm Network. 

4. Supports sustainability 

Another unique feature of the Vechain network is that it is designed to support sustainable projects. Although it started as a platform for supply chain management, it has evolved into a complete ecosystem that can support environment-friendly businesses. 

The platform can work as a hub for different use cases of blockchain tech for sustainability. It is working in alliance with numerous enterprises to develop a biosphere. 

5. Energy efficient  

The Vechain network is one of the most eco-friendly projects in the crypto market. It also makes claims that it is the most energy-efficient blockchain, consuming only 0.04% of the energy other blockchains consume. 

According to the 2022 carbon footprint data Vechain shared, the blockchain consumed 4.46 t CO2e/year. This amounts to only the carbon emissions of a gasoline-powered vehicle. That's why the blockchain is not only fast and scalable, but also remains environmentally friendly. 

## VET coin price and tokenomics 

The Vechain network has introduced two distinct coins, but in this article, we will solely focus on the VET coin. 

VET is the utility token that powers the platform's ecosystem and pays for transactions on the network. 

The VET tokenomics aim to create a self-sustaining ecosystem where VET holders are incentivised to hold and use VET in the Vechain ecosystem. VTHO generation incentivises VET holders to use the network. This model ensures the long-term viability and growth of the Vechain platform.  

Currently, the total supply of VET coins is capped at 86,712,634,466 tokens, with approximately 64% of the total supply in circulation. The coin holds the 38th rank among all cryptocurrencies, with a market cap of $1,656,457,551 and a trading volume of $48,911,786 in the past 24 hours. 

Moreover, as per [CoinMarketCap](https://coinmarketcap.com/currencies/vechain/), the VET coin currently trades at around $0.0228. At time of writing, the coin's price is down by around 2%. 

In 2021, the VET coin recorded its all-time highest value at around $0.2782. Since then, the token's price has dropped by 91.84%. However, the coin's lowest value was recorded at $0.001678 in 2020. 

## VET coin price prediction 

The current trend indicates that the 50-day SMA (Simple Moving Average) for the VET coin is at $0.0214, while the 200-day SMA is $0.0220. Additionally, the coin’s 14-day RSI (Relative Strength Index) stands at 42.46. Based on this data, VET is expected to maintain a similar price in the near future.  

However, according to price predictions from [CoinCodex.com](https://coincodex.com/crypto/vechain-token/price-prediction/), bearish sentiments are expected for the next five days. While the market's fear and greed index indicates neutrality, a price drop of more than 5% may be anticipated. The asset’s volatility is expected to be 4.59% for the next 30 days. 

Disclaimer: Please note that cryptocurrency price predictions are not certain and should be cautiously taken. These predictions are based on various market factors and should not be considered investment advice. 

## Long-term price predictions for VET Coin 

Let’s take a look at the price forecast for the years 2023, 2025, and 2030.  

Price predictions from PricePrediction.net  

According to [PricePrediction.net](https://priceprediction.net/en/price-prediction/vechain)’s Vechain price prediction, the VET coin price in 2023 is expected to average at $0.031. The highest predicted value for the token is $0.036, and the lowest is expected to be $0.030.  

Looking ahead to Vechain’s price prediction for 2025, the coin’s price is expected to grow steadily. The prediction suggests that the VET coin will average around $0.064 and may reach a maximum value of $0.078. The coin’s minimum price in 2025 is expected to be $0.062.  

PricePrediction.net’s data also shows predictions until 2030. The prediction indicates that the coin will eliminate a decimal in 2027 and may reach up to $0.41 by 2030. The price may also hit the $0.5 mark, while the lowest will be $0.40. 

### Price predictions from DigitalCoinPrice   

The price predictions from DigitalCoinPrice are similar to those of PricePrediction.net, with a forecast of sluggish progress for the VET coin in the coming years. 

The token's price is expected to reach a maximum of $0.048 in 2023, with an average trading price of $0.0461. 

Looking ahead to 2025, the Vechain price prediction suggests that the token will be valued at around $0.078, with a maximum value of $0.0794 and a minimum value of approximately $0.064. Additionally, 2030 predictions indicate that the VET coin will be floating in the market at around $0.23. 

It is important to understand the factors involved in making these predictions. [Price predictions ](/news/article/cryptocurrency-news-predictions)are usually based on technical analysis, which involves studying a particular cryptocurrency's historical price movement, trading volume, and market trends. Other factors affecting the price include [global economic](/news/article/cryptocurrency-and-the-economy) and political events, [government regulations](/news/article/crypto-regulations), and market sentiments. Investors should remember that price predictions are speculative and not guaranteed. You should always conduct your research and analysis before making investment decisions. 

## Where can I buy the Vechain (VET) coin? 

VET and VTHO coins are available on most popular crypto exchanges, including Huobi Global, Binance, and several other notable exchanges. You have numerous options for trading VET coins, as it’s available in trading pairs with cryptocurrencies, fiat currencies, or stablecoins. 

## Is VET coin a good investment? 

As with any other crypto project, the [value of VET coin](/news/article/vechain-news) will depend on how the network progresses in the coming years. The technology and vision behind the Vechain network are novel and have the potential to transform industries. Furthermore, it can support the efforts of projects working to preserve the environment. 

The network offers various use cases in healthcare, IT, supply chain, and other domains. It currently collaborates with top companies such as [PwC](https://www.pwc.com.pk/en/), [BMW](https://www.bmw.com/en/index.html), [Walmart China](https://corporate.walmart.com/our-story/our-business/international/walmart-china), [Haire](https://www.haier.com/pk/), [DHL](https://www.dhl.com/global-en/home.html?locale=true), and many others. VET’s price may rise if its ecosystem continues to attract other large enterprises and successfully creates a blockchain biosphere. 

However, if you're looking to invest for immediate returns, it may not be the ideal choice. If you believe in the project's sustainability vision, then it would be prudent to consider it for long-term investments. 

In any case, you should conduct your own research by tracking market trends and conducting a thorough analysis of the project. 

Latest Moni

Author: Wasay Ali

Author: Wasay Ali | Page 2