Digital Financial Education
DeFi, short for Decentralised Finance, is a rapidly growing sector in blockchain technology. It is a movement that aims to create an open, transparent, and accessible financial system. South Africa is one of the countries that has shown a keen interest in DeFi, with many individuals and businesses exploring its possibilities. In recent years, the … Read more
As inflation and currency devaluation erode the value of the South African Rand, more people are considering alternative ways to preserve their wealth.
Rather than watching their savings depreciate, many are turning to Bitcoin as a viable option. Bitcoin offers a decentralised currency that’s insulated from the inflationary pressures that plague traditional fiat money.
Cryptocurrency investment has become an increasingly accessible venture, largely thanks to platforms like EasyCrypto. These platforms aim to simplify the buying, selling, and management of digital assets, offering an entry point for both novices and experienced traders.
With a focus on user-friendliness, EasyCrypto provides services that allow individuals to diversify their portfolios with cryptocurrencies, as well as traditional investment options such as stocks, bonds, and exchange-traded funds (ETFs).
Are stablecoins the unsung heroes of the digital currency? Picture this: you’re cruising through the wild west of cryptocurrencies, watching the prices of Bitcoin and Ethereum bounce around like a yo-yo on steroids. It’s enough to make even the most seasoned investor break out in a cold sweat! But then, like a beacon of calm … Read more
You’re at a party, and someone starts talking about Bitcoin. You nod along, pretending like you totally get it, but in your head, you’re like, “What the heck is this magic internet money everyone’s so hyped about?” Well, fear not, because I’m here to demystify the world of Bitcoin for you. First things first, Bitcoin … Read more
Okay, guys, why haven’t I done this before? Just stake my first Ethereum with Luno!
Luno, a leading South African-born cryptocurrency exchange and wallet provider, has recently launched Ethereum staking for its customers. This new feature allows users to earn rewards by simply holding their Ether (ETH) in Luno’s platform, providing a passive income opportunity for crypto enthusiasts. Initially introduced in South Africa, Luno’s staking feature has garnered significant interest from the crypto community.
Staking Ethereum through Luno offers a more accessible way for individuals to participate in the proof-of-stake consensus mechanism that secures the Ethereum network. Ordinarily, one would require at least 32 ETH to run a personal staking setup, but Luno eliminates this barrier by letting users earn weekly rewards with any amount held in their staking wallet.
This development comes when Ethereum transitions from its proof-of-work model to a more environmentally friendly proof-of-stake system. As Ethereum’s popularity grows, investors increasingly seek ways to earn passive income from their crypto holdings. Luno’s Ethereum staking feature represents an attractive option for both seasoned and new investors in the cryptocurrency space.
Luno Wallet is a popular software application that enables users to securely buy, sell, and store various cryptocurrencies, including Bitcoin, Ethereum, and XRP. Designed with a user-friendly interface, this app serves as a convenient and efficient tool for those looking to enter the world of digital currencies. As a trusted crypto wallet, Luno has made a name for itself through its focus on regulation and adherence to strict security processes.
One of the primary features of the Luno Wallet is its compatibility with multiple platforms such as iOS, Android, and web. This allows customers easy access to their investments, providing a seamless experience across different devices. Furthermore, by supporting a range of cryptocurrencies, users have the option to diversify their portfolio and stay informed on the latest market trends.
In addition to its versatile functionality, the Luno Wallet takes security very seriously. The platform’s regulation-first approach has earned it a reputation as one of the most compliant and secure crypto investment platforms globally. By employing rigorous security measures, Luno ensures that its users can confidently participate in the cryptocurrency market without worrying about the safety of their assets.
I recently logged into my Ledger account and saw an option to stake my Ethereum and make dollars. It seems super easy today but what exactly is staking (e.g. how does it compare to interest on savings) and what are the risks involved.
Staking Ethereum is the process where participants lock up a certain amount of their ether (ETH) to support the operations of the Ethereum blockchain. By doing so, they take on the role of validators, who are responsible for confirming transactions and creating new blocks. This not only contributes to the network’s security and efficiency but also enables participants to earn rewards. The transition from the original proof-of-work mechanism to proof-of-stake through Ethereum’s upgrade, often referred to as Ethereum 2.0, marks a significant shift in how the network will validate transactions and forge new blocks going forward. The Ethereum era refers to the time period dominated by the Ethereum blockchain platform, which revolutionized the world of decentralized applications and smart contracts. As Ethereum gained popularity, it paved the way for the development of new cryptocurrencies, decentralized finance (DeFi) protocols, and various innovative use cases built on its blockchain.
To become a validator on the network, one must deposit 32 ETH into the Ethereum 2.0 deposit contract. This acts as a form of security, incentivising validators to act honestly and efficiently in their role. Ethereum staking has been designed to be accessible to a broader audience, offering various ways to engage with staking, such as solo staking for those who wish to operate their own validator node, and pooled staking for those who prefer to stake smaller amounts by joining forces with others.
The rewards earned through staking come from transaction fees and the issuance of new ETH. These rewards serve as an incentive for validators to maintain the network’s integrity. As the Ethereum protocol progresses with its upgrades, staking is expected to play a pivotal role in the sustainability and scalability of the network, inviting both technical users and the broader Ethereum community to participate in the network’s future.
Ripple is a digital payment protocol that also encompasses a cryptocurrency known as XRP. The platform operates as a real-time gross settlement system, currency exchange, and remittance network, designed to facilitate fast and cost-effective transactions worldwide. Its underlying technology is a distributed open-source protocol, which supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes.
XRP serves as the native cryptocurrency of the Ripple network and acts primarily as a utility token that enables users to participate in the ecosystem and facilitate transactions. Unlike Bitcoin which was created as a decentralized digital currency, XRP was conceived for institutional use, aiming to streamline cross-border payments for banks and financial entities. The coin operates on the XRP Ledger, an open-source blockchain built specifically to perform speedy and scalable transactions.
In recent years, Ripple has been in the spotlight due to its legal battles with the United States Securities and Exchange Commission (SEC), which accused Ripple of issuing XRP as an unregistered security. However, a federal judge ruled that sales of XRP did not constitute offers of securities, though the case remains ongoing. The outcome of this legal confrontation could have significant implications for XRP’s classification and its future use within the financial markets.
