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5 Things the War in Ukraine Has Revealed About Cryptocurrencies

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On February 22nd, 2022, the War in Ukraine erupted. The ensuing conflict has been one of Europe’s most significant, bloodthirsty, and costly conflicts since the Second World War. But as well as revealing flaws in everything from the Russian military to the NATO alliance, the conflict has also revealed some very stark truths about cryptocurrencies.

After all, this conflict is defined by increasing sanctions on the Russian state and has featured numerous innovative crowdfunding models based on blockchain technology. From organisations utilising blockchain to offer humanitarian relief in the war to the authorities of countries attempting to enforce their control over cryptocurrencies, the modern phenomena of blockchain and crypto are playing a significant role in this equally modern war.

One of the main ways that cryptocurrency plays a role is due to the plethora of ways that the transfer of fiat money via centralised systems has been interrupted. Throughout human history, centralised finance systems have been susceptible to collapsing under the pressure of war and political unrest. Cryptocurrency, and the decentralised blockchain technology it’s hosted upon, is able to operate much more efficiently.

In this article, we’re going to look into the numerous applications of cryptocurrency and blockchain that the ongoing war in Ukraine has revealed.

Cryptocurrency Used for Fundraising

Crypto

In what has been Europe’s most significant military showdown since the Second World War, the conflict in Ukraine has demonstrated how crypto can be effectively used to raise much-needed funds in the midst of war.

At the outbreak of the conflict, the Ukrainian regime in Kyiv publically announced that they would be open to accepting war relief donations in the form of cryptocurrency in an effort to include a wider spectrum of potential donors. In turn, this saw the formation of the Crypto Fund of Ukraine.

Ukraine’s Ministry of Digital Transformation spearheads the Crypto Fund of Ukraine. The fund was established in partnership with the likes of Kuna, FTX and Everstake to support humanitarian aid and provide military support for Ukraine. 

The crypto fund is said to have played a serious role in enabling Ukrainian national defence and allowed the Ukrainian regime to accept more than $100 million worth of cryptocurrency donations. The funds were used to buy vital military aid such as body armour, night vision optics for fighting in the winter months, and unmanned aerial vehicles (UAVs) to monitor Russian positions.

But the Crypto Fund of Ukraine is one of many ways decentralised technology has been used to raise funds to support Ukraine. Other cryptocurrency fundraiser organisations aiming to support Ukraine have also utilised decentralised autonomous organisations (DAOs). One of the most well-known is the UkraineDAO.

Like the Crypto Fund of Ukraine, the UkraineDAO was established at the outbreak of the conflict to muster financial support for the Ukrainian military. The project is spearheaded by people like Nadya Tolokonnikova, one of the founders of the Feminist anti-Putin punk band Pussy Riot and seeing involvement from the likes of the generative NFT studio called Trippy Labs. So far, the UkraineDAO project has successfully raised over $8 million in donations.

Interestingly, the UkraineDAO was behind the successful sale of a nonfungible token (NFT) that took its place amongst the list of the top 20 most expensive NFTs of all time. The NFT was centred around a Ukrainian flag and sold for more than $6 million worth of Ether (ETH).

As well as a method to receive donations, various humanitarian organisations have used cryptocurrency on the ground in the war in Ukraine. World Central Kitchen, an organisation which provides food for those in need during times of war and natural disasters, accepted donations in Ether (ETH) during various crowdfunding campaigns to carry out their work to feed those affected by the war in Ukraine. 

But, of course, where there are good intentions, there are also malicious intentions. Cryptocurrency has equally been used by those with ill intentions in the conflict in Ukraine, which brings us to our next point. 

Malicious Use of Crypto in War

Whilst the helpful intentions of humanitarian organisations and other fundraisers have received considerable attention, there is also an underbelly of malicious crypto activity that has undermined the efforts made by those trying to support Ukraine. 

For example, a series of online fraudsters have begun a highly-organized campaign to rip off would-be donors by impersonating spokespeople of approved cryptocurrency organisations taking part in fundraising campaigns for Ukraine. 

It’s believed that these cybercriminals have likely dispatched millions of emails in an effort to deceive people worldwide. A common tactic used will be to impersonate Ukrainian people who are desperately in need of aid with the goal of extracting money from would-be donors.

In doing so, the real victims of the conflict in Ukraine will face extreme difficulties in getting the help they really need, as such cybercriminals can easily blur the lines between who is genuine and who is a scammer. 

An increasing number of people are reporting that these cybercriminals are also using social media such as Facebook, Twitter, Reddit, and Instagram to launch their scam campaigns. Any would-be donors should only donate cryptocurrency via channels that the Ukrainian government officially authorises to evade potential scams. Alternatively, you can avoid scams by making informed decisions on well-known and reliable sources such as this crypto website

Crypto Scams on the Dark Web

Put simply, the dark web is an overlay internet grid made up of unindexed sites that are hidden from standard web browsers and search engines. The dark web can only be accessed using particular browsers such as Tor.

There is a reason that the dark web is deliberately concealed from everyday users. It bears a wide spectrum of highly illegal activity, including black markets for narcotics, firearms, and even assassination services. In addition, it’s widely used by black hat hackers to buy and sell stolen private credentials.

Naturally, the dark web is being heavily used by shady people to spread fraudulent messages with the aim of stealing money from people looking to support Ukraine. One of the main methods is to send links that take people to phishing sites that are developed to steal cryptocurrencies.

Users have reported that these scammers are using increasingly advanced techniques, from fake AI-generated chat boxes that aim to mimic user activity to fake donation buttons to look more genuine.

In the chaos surrounding the outbreak of the war, a particularly well-trained gang of cybercriminals launched an elaborate fundraising scam that involved the release of a crypto token called Peaceful World (WORLD). Still, it was stopped in its tracks by both the Ukrainian government and various cybersecurity experts.

Governments Can Ban and Control Cryptocurrencies

When the founder of Bitcoin (BTC), Satoshi Nakamoto, created the world’s first cryptocurrency, one of his main aims was to create a financial asset that would give freedom to the owner and take away the overwhelming level of control that global regimes and centralised financial organisations currently held over it.

However, with the outbreak of the war in Ukraine, it’s becoming increasingly clear that cryptocurrency can be banned or controlled at a governmental level in more than a few ways.

For example, in October 2022, blockchain companies based in the European Union were strictly barred from offering any form of crypto custodial services to Russian citizens or businesses. The decision resulted from a series of sanctions imposed by the European Commission on the Russian Federation. In addition, Russian cryptocurrency wallets that fell under the control of Europe-based exchanges were also targeted and frozen.

The reason for the wave of crypto sanctions was an attempt to stop Russian from using cryptocurrency to successfully evade fiat currency sanctions placed on the country, as they have done before.

Before the latest sanctions, restrictions were already in place that ensured a strict limit of 10,000 euros for trading and making deposits in crypto wallets and accounts owned by Russian citizens.

In order to dodge a regulatory conflict with the European Union, the recent acts and sanctions announced by the European Union have left significant exchanges like Coinbase, Kraken, Crypto.com, and Binance to refuse services to Russian citizens and businesses.

U-Turns on Crypto Bans

The wave of crypto-related and fiat currency-related sanctions to hit Russia has left the world’s biggest country in a serious economic situation. Barred from SWIFT and cryptocurrency wallets, Russian citizens were beginning to be backed into a corner regarding viable solutions for moving money at home and abroad. 

You may remember that the Russian government notoriously banned using crypto to make payments inside Russia back in July. However, in the wake of the recent sanctions and left with few options, this ban was naturally reversed, and both the Russian central bank and the Ministry of Finance agreed to permit crypto to be used for cross-border payments.

This latest decision was believed to have been made to encourage Russians to use domestic cryptocurrency exchanges, reinforce the economy in the wake of sanctions, and provide a decentralised payment that is largely untouchable by hostile governments, provided it manages to sidestep current sanctions.

In Summary

The war in Ukraine is one of the most brutal conflicts seen in Europe in decades. But as an inherently modern war, it has taught us practical lessons about the use of cryptocurrency in large-scale human conflict on an international level.

The war has shown how cryptocurrency has been used on a community level through the use of fundraising from people wishing to support Ukraine, and the Ukrainian state has equally used it to raise direct donations worth over $100 million from donors worldwide.

On the flip side of the coin, the conflict has equally attracted the attention of scammers and cyber criminals seeking to take advantage of people’s good intentions and use the chaos of war to scam funds from people. 

Sadly, the horrific war in Ukraine shows no signs of ending anytime soon. As it continues to rage in 2023, cryptocurrency will undoubtedly be revealed in many more use cases across the conflict by both sides and for various reasons. 

 

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What Is the Best App to Use for Day Trading?

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Do you ever feel you need the right tools to make well-informed decisions when it comes to day trading? Do you want to learn how to ensure your investments are successful and profitable? You’re not alone.

With so many different apps available on the market today, it can take time and effort to pick the one that fits your experience level and needs.

This article will dive into all things day trading, discuss which app is ideal for beginners and more skilled traders, and reveal some of our top tips for success. So buckle up and get ready – let’s start learning how to maximize your gains with the best app for day trading.

What is day trading?

Day trading is an exciting investing strategy that could lead to significant financial gains. It involves purchasing and selling securities on the same day to capitalize on short-term price fluctuations, usually within a few hours or even minutes. To succeed at day trading, one must possess an intricate understanding of market trends and an analytical mind that can rapidly determine when to buy and sell.

Day traders must also be able to manage their emotions during fast-paced trades to stay focused and not let fear play a role in their decisions. Despite its high stakes, day trading has substantial potential rewards, making it appealing to many investors.

How to choose the best day trading app?

The best day trading app depends on your experience level and financial goals. Nevertheless, a few apps stand out from the competition and offer the most comprehensive tools for day trading success.

Traders looking to start day trading should consider MetaTrader 4 (MT4). This popular platform enables users to open and close trades quickly, track market data in real time and analyze tens of different currency pairs at once. MT4 also offers built-in tutorials to help newcomers learn the ropes, enabling them to build their day trading skills from scratch.

Advanced day traders should consider Robinhood; a top option for managing day trading accounts. This app features an intuitive interface, fast trade execution, and convenient access to a wide range of markets across the US. It also provides customizable charts, real-time market data, and day trading alerts, helping users make informed decisions in seconds.

How do day trading apps help you become a successful day trader?

Day trading apps have various powerful tools to help you succeed in the markets. They can provide detailed insights into market movements and trends, enabling users to make rapid decisions that capitalize on short-term gains.

These apps also enable day traders to manage their risk more effectively by utilizing features such as stop losses and limits, which can help prevent significant losses. 

Many day trading apps offer customizable alerts that let you know when to enter or exit a position. It can be beneficial for those who can’t monitor the markets constantly.

What are the benefits of day trading apps?

Day trading apps come with various benefits designed to help you maximize your profits and minimize your losses. Here are some of the main advantages:

The main benefit of day trading apps is their convenience and speed. These apps can be accessed from anywhere with an internet connection, enabling you to take advantage of market opportunities as soon as they arise. Additionally, these apps have built-in tools to help you make informed decisions quickly, such as real-time market data and customizable alerts. It can allow you to capitalize on market movements as soon as they occur, helping you maximize profits.

Another benefit of day trading apps is their ability to help you manage risk more effectively. These apps usually come with features such as stop losses and limits, which can help prevent significant losses when the markets move against you. Additionally, many apps offer educational material to help you become more familiar with the markets and understand what drives price changes.

Day trading apps can help manage risk more effectively by allowing traders to set stop-losses and limits, which helps limit the losses incurred in case a trade goes against them.

What features should you look for in day trading apps?

When it comes to choosing the best day trading app for you, there are a few features that you should consider.

  • Firstly, look for an app with intuitive navigation tools, making it easier for you to manage your trades and analyze market data quickly. Additionally, seek out apps with customizable displays so you can arrange the information in a way that works best for you.
  • Additionally, look for apps with real-time market data and customizable alerts. These features will help you make more informed decisions faster, helping you maximize your profits. Additionally, look out for apps featuring educational material to help you become more familiar with the markets and understand what drives price changes.
  • Finally, make sure that the app you choose offers secure trading. Check for various security measures, such as two-factor authentication and encryption, to help protect your account and personal data.

Wrapping up

Day trading apps are becoming increasingly popular amongst traders around the world. With the rise of technology, more investors are now using day trading apps to access markets, analyze data, and make trades. But with so many day trading apps available, it can be difficult to decide which one is right for you.

Overall, choosing the best day trading app is not an easy task. It requires careful consideration of several factors. For example, you must make sure the app is compatible with your device, offers the features and tools necessary to help you make informed trading decisions, is affordable, and offers the security and reliability needed to keep your funds safe. Ultimately, the best day trading app for you is the one that meets all of your needs and helps you to successfully manage your trades. Day trading is an important investment strategy and having the right app can make all the difference.

 

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What Are The Advantages Of Crypto Vaults?

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Why Should You Invest In Cryptocurrency?

This is an easy question because everyone has different reasons for investing in virtual currencies. Some people believe that bitcoin is the future of money and want to be among the first to invest in it. Others believe cryptocurrencies have a bright future and are looking for ways to protect their profits from inflation and taxes. Crypto vault provides this security because they hold your assets on their servers.

When You Invest In Cryptocurrency, You Are Investing In A Blockchain And In The People Who Created It:

The people who create cryptocurrencies are the same people who use and maintain them. They also develop new features for their coins so they can continue to be successful. 

A Blockchain Is A Secure Ledger That’s A Record Of Every Transaction That Ever Takes Place Through Its Network:

It’s owned, operated, and secured by the people who use it, so you can be sure no one will try to steal your money or make unauthorized changes to your records. 

It’s Owned, Operated, And Secured By The People Who Use It:

Blockchain is a decentralized ledger that anyone can view, but no one owns or controls. The blockchain was created when bitcoin miners (people who solve complex mathematical problems) solved a puzzle using computers and electricity to record transactions on the network. 

Since then, other cryptocurrencies have been created using this technology, and they, too, are open-source tools that allow users the power to make their digital currencies without any central authority governing them.

The Ledger Is Transparent, So Everyone Can See Exactly What Has Happened On That Network:

Every transaction that ever takes place on a blockchain is recorded in a public log known as the blockchain. This blockchain is owned, operated, and secured by the people who use it.

Each Piece Of Data, Known As A Block, Contains Information About The Transactions Taking Place On The Network:

A blockchain can store any digital currency, including Bitcoin and Ether. Sometimes, it can store other data types, including financial and medical records. In short: anything that needs to be stored securely and reliably can benefit from using blockchains!

In A Digital Wallet, No One Can Alter The Numbers Without Breaking The Rules Of That System And Damaging Your Relationship With It:

You’re protected from hackers and thieves if you’re storing money in a crypto vault. You’ll also be able to access your funds anytime by using an app or website, so if something happens to your computer or smartphone, all your information is safe and secure.

The vaults give users complete control over their private keys (the codes used to encrypt wallets), which means they have ultimate control over their finances while avoiding potential losses due to hacks or fraud.

In Crypto, No One Controls Your Funds Except For Yourself:

Crypto is a great way to store your cryptocurrencies, and this is because they prevent others from taking control of your crypto assets or using them without permission.

You’re Using A Blockchain To Protect Your Money:

You’re using crypto to protect your money, store your cryptocurrency, and keep your digital assets.

Conclusion:

Bitcoin, Ethereum, and other cryptocurrencies have had a roller coaster of a time being traded. Many people went broke in the first few years, only to see the value of their holdings skyrocket. The market has also seen massive changes over that time – from the creation of Bitcoin in 2009 to its death in 2018.

Blockchain is a distributed accounting protocol that creates an ongoing, peer-to-peer network (a network of computers) where transactions are recorded and shared between multiple users on that network. It allows for financial transactions between two parties without any intermediaries involved.

 

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Online Blackjack Terminology Explained for Beginners

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Not everybody who plays blackjack online is a pro. However, you can improve your blackjack gameplay and become a better player with a bit of homework and practice. The first lesson of learning to be a better blackjack player is to understand blackjack terminology. Without this, you simply won’t understand what is going on. Fortunately, you don’t have to venture far to learn a few of the basics. We’re here to help.

The Basics

In blackjack, there are certain moves that are deemed “basic”, and you’re going to need to learn these before you can even hope to land wins. Hitting and standing are two of the most common terms, where hitting involves taking a new card, and standing requires you to stick with what you’ve got. Busting involves going over “twenty-one points” and losing. Meanwhile, when you split, you’re dividing your hand into two hands (at a cost), and when you double down, you’re doubling your stake for just one more card.

Soft vs Hard Hands

You will often hear the gambling terms “soft hand”, or “hard hand” thrown about in blackjack. These terms can mean various things in different games. In blackjack, though, a soft hand is one which gives players more room to manoeuvre because it has an ace in it. By contrast, a hard hand offers more rigidity. As it lacks an ace, it doesn’t offer much wiggle room.

Insurance and House Edges

Two other terms you may wish to note are “insurance” and “house edge”. Insurance is an optional side-bet that you can take while the blackjack game is being played. It can see you potentially pocket earnings of 2:1 if the dealer has blackjack, but it is a risky bet. By contrast, house edge tells you the percentage of each bet that is pure profit and that the house keeps (and that can’t be won by players), with the rest representing RTP. You want as low a house edge as possible when playing blackjack.

Variants Explained

Blackjack is a game that can be played in many different variants. A variant is a “type” of blackjack game. For instance, European Blackjack, American Blackjack, Face-Up 21, Blackjack Switch and Blackjack: Double Exposure are all blackjack variants.

Deck-Related Terminology

Let’s end by looking at some deck-related terminology. We’re sure that you already know that “deck” refers to a complete set of cards (minus jokers). Shoes represent a collection of several decks combined and shuffled. Discards (as their name implies), are any cards that have been dealt, and they remain by the side until the dealer inserts them back into the shoe to be shuffled once more. Finally, we have face-up cards. These are any blackjack cards that appear with their value side facing upwards. In most games, one of the dealer’s cards will be face-down. However, in some games – such as Double Exposure – the dealer with have two face-up cards.

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