Top 5 Weird Cryptocurrencies

If you want to accept payments in cryptocurrency, you need to learn the ropes of the crypto market with all the cryptocurrency statistics, pros and cons of investments and so on. But the crypto world, being a truly reliable place, still has much fun to offer. For example, there are some peculiar coins to steal your attention. So we have prepared this top 5 to make you smile!

Dogecoin

The most famous meme-coin Dogecoin is something everyone is fond of. The coin was launched in 2013 and gathered a devoted online community, especially on Reddit. What has made Dogecoin this viral? The likeness of the well-known Shiba Inu dog. 

In 2020 Dogecoin is still in vogue and feels pretty healthy, being the most favorite cryptocurrency of Elon Musk.

Toilet Paper Coin

COVID-19 has come to change everything in the world, and the crypto currency is not an exception. On the 1st of Aoril 2020, the Toilet Paper Token has been introduced. 

What are its features? The “smut contracts” to keep track of the total number of rolls used buy the wipers! Also, if one day stores run out of toilet paper stock, TPT holders will be the first to know.

Cat Coins

Cats have always been viral on the Internet, so the existence of several cat-related coins seems to be obvious. The most famous fluffy cryptocurrency is Monacoin. The peculiar fact is that it happened to be the first Japanese crypto. 

Have you seen the Nyan Cat meme?  The cat made from a pop-tart flying through space with a rainbow behind? That’s another kitty cryptocurrency to to tell about. It was introduced in 2014 with the words “It is my great pleasure to announce to you all that we have partnered with the creators of Nyancat to create the first officially licensed cryptocurrency in history!”
Cryptokitties, that look like digital Pokemons, are also loved by cat fans. The cryptocurrency happened to be the first non-fungible token: so it could not be exchanged for another one of the same value. Cryptokitties have their own unique assets and can be “bred” with other Cryptokitties to get a new one.

Mooncoin

Have you ever dreamt of becoming an astronaut? There is a cryptocurrency ready to bring you to the moon. Of course, in terms of it’s supply: it is limited, based on the average distance from the Earth to the planet. Sounds pretty Sci-Fi, doesn’t it? 

Besides, the coin also has its own programming language called MoonWord. Unfortunately, the details on whether you need a space suit to use them have not been stated yet. But space lovers and millennial goths appreciate!

Dentacoin

Remember The Tooth Fairy?Cryptocurrency community has the one of its own, Dentacoin, that aims to work for dentists and to find solutions for the healthcare. Created for the particular industry it encourages dentists worldwide to accept dentacoin for payments.

Jokes aside! NOWPayments has over 40 coins for you to accept online. All you need is just to sign up in a click! And don’t forget that NOWPayments is all for new coins to list. You are free to contact us with your ideas here.

The Difference Between Bitcoin And Litecoin

Anytime you wonder how to accept cryptocurrencies online, you inevitably come across the mentioning of Bitcoin and Litecoin, the “royal” coins. While BTC is widely referred as the «gold», LTC is considered to be as the “silver”. Both the two popular coins have much in common, being decentralized global digital currencies that are convenient to transfer via NOWPayments. However, many cryptocurrency owners wonder, what is the difference between Bitcoin and Litecoin. In this article we will answer the question. 

Public Attitude

Introduced in 2008 by Satoshi Nakamoto, Bitcoin has made headlines, got recognized as the «digital gold», faced phenomenal rises and significant crashes in value. This currency is known by all and everyone and is accepted by a huge list of services. 

Litecoin, developed by Charlie Lee in 2011, peaked in 2011. The coin gained much attention, but it has never reached the popularity of Bitcoin, being treated as digital cash only.

Prices

Why BTC is called the «gold»? It is the most expensive cryptocurrency. At the same time, LTC prices are always cheaper. Though it doesn’t matter in the terms of investments or transactions, the prices count as the psychological element: lower costs make the coin more «underrated» with smaller speculation to come.

Transactions

The main distinguishing aspect of the currencies is the process of transaction. Transaction confirmation takes some time with about 10 minutes per transaction of BTC and just 2.5 minutes for LTC. The thing is that LTC uses SegWit or segregated witness — data segregation built to increases transaction speed, while only 40% of BTC transactions use the same technology.

As a result, to save their time, some merchants may prefer to accept Litecoin. Others, on the other hand, claim that quick cryptocurrency transactions are less safer: the issue is moot, but the difference is clear.

The Technical Aspect

Obviously, Bitcoin and Litecoin are technically different. Bitcoin is built with the help of SHA-256 algorithm, while Litecoin relies on Scrypt. The first one is considered to be more complex Because Scrypt allows regular miners often using CPUs (central processing units) or GPUs (graphics processing units), Litecoin is typically a more easily accessible way to mine coins than Bitcoin. 

The Amount

The number of total coins is another distinction. While Bitcoin can produce a total of 21 million coins, Litecoin is able to produce up to 84 million coins. Though you may think this is one of advantages of Litecoin, its amount doesn’t play much role, because both BTC and LTC are highly divisible and the minimum quantity of Bitcoin to transfer is the so-called «satoshi» — one hundred millionth of a Bitcoin.

Now you know the differences between BTC and LTC, but don’t forget that the market is constantly changing, so nobody can tell you whether Bitcoin or Litecoin is a better investment. However, both cryptocurrencies are reliable and suitable for online transactions. Especially with NOWPayments: sign up in a click and start accepting payments in BTC and LTC today.

10 Most Popular Cryptocurrencies

10 Most Popular Cryptocurrencies

Whenever you wonder how to accept payments in cryptocurrency, you are sure to have the question: what crypto to choose? The market is changing rapidly with over 5000 digital currencies already introduced and new tokens added daily. 

If you want to accept payments in Bitcoin, Ethereum and Litecoin, you have the reason, for these giants are the most popular cryptocurrencies worldwide. However, the list of the widespread digital money is longer, and this article represents coins listed by NOWPayments and widely used by websites accepting cryptocurrency.

Bitcoin (BTC)

Let’s take a closer look on the cryptocurrency that rings the bell. What makes BTC this popular all over the world? Introduced in 2008 by Satoshi Nakamoto, Bitcoin (BTC) is considered to be the most popular digital money to invest in and to accept payments in cryptocurrency.

The number of Bitcoin payment companies, Bitcoin exchanges, and Bitcoin wallets grows quickly, but the best way to pay and to accept Bitcoin payments is still NOWPayments.

Ethereum (ETH)

Launched by Vitalik Buterin in 2015, Ethereum is famous for its smart contracts and the so-called “Proof of Work” system aimed to prevent economic attacks. The coin is highly popular among companies interested in instant crypto payments that are safe.

This digital currency has lots of ways to be used, but, If you want to accept payments in ETH promptly and safely, use NOWPayments.

Litecoin (LTC)

Introduced in 2011 by Charlie Lee, Litecoin is widely known as the “silver to bitcoin’s gold.” 

The currency is highly popular among merchants and the list of companies that accept Litecoin grows steadily. So why not give it a try?

Whenever you are looking for a diligent Litecoin payment system, NOWPayments has much to offer you.

Ripple (XRP)

Ripple is a good choice to accept cryptocurrency payments online. Introduced in 2012, XRP is a digital currency to make and to accept online payments.

Based on XRP Ledger, it is suitable for quick cross border transactions. One more detail is that Ripple doesn’t need mining, so it is relevantly eco-friendly. With NOWPaymentts you can accept XRP without extra efforts.

Zcash (ZEC)

Launched in 2016, Zcash is based on Zerocash protocol, that guarantees the complete anonymity of transactions. 

To experience the perks of this popular digital currency, sign up today. Pay in Zcash online and receive payments in ZEC in a click.

DASH (DASH)

What is a DASH coin? DASH was launched in January 2014 as a fork of the Bitcoin protocol. The currency that represents itself as an open source one,  has been created to make the promptest transactions real.

The coin is pleasant to deal with, so, to accept DASH altcoin online, you need to sign up, add your wallet, generate an API.

DigiByte (DGB)

The DigiByte blockchain was released in January 2014 by Jared Tate. DGB says that it is “the world’s longest, fastest and one of the most secure UTXO (Unspent transaction output) PoW (Proof of Work) based blockchain in existence”. The coin itself is suitable for online shopping with cryptocurrency.

NOWPayments enables you to add payments in DigiByte to your website via buttons, plugins, and widgets.

EOS (EOS)

Launched in 2017, EOS is aimed to support large-scale applications. Based on EOS.IO protocol, this cryptocurrency is suitable for accepting online payments in.

What is EOS coin used for? The currency is suitable for trading online, so you should probably accept payments in EOS with NOWPayments.

USD Coin (USDC)

USD Coin is a stablecoin issued by regulated financial institutions. Every coin is worth a dollar, but hedges against volatility. In a word, it is a digital form of traditional money that can be easily transferred worldwide and suitable for accepting cryptocurrency payments. With our service, you can receive USDC online promptly in any corner of the world.

Verge (XVG)

Another popular digital currency that is suitable to pay online and to accept crypto payments.  It was created in 2014 under the name of DogeCoinDark, but later, in 2016, it got the new meaning, being rebranded as Verge Currency.

Verge aims to protect user identities and locations and is cool to receive cryptocurrency payments with. 

The coin has a huge community of users, so it is surely profitable to accept payments in XVG online.

Though the article sheds the light only on 10 most popular cryptocurrencies used by our clients, we are planning to cover other coins and token you would like to accept payments in.

As well as that, don’t forget that NOWPayments is always ready to add new coins to the list. We are tracking new currencies to partner with. So, to make your experience more efficient, you are welcome to offer your options here. 

NOWPayments is more than a crypto payment processor, we guarantee you prompt, secure and joyful service. 

The presented information has nothing to do with business advice, treat it as an introduction.

API Safety

As a cryptocurrency user, you are sure to have already used API keys. But have you ever thought about what is beyond the term “API”? To make cryptocurrency secure, the creators use API as a method of protecting information with protocols that can’t be read by third parties.

What is API?

API is the short of Application Programming Interface that works as a computing interface of a system that sets the way its components and applications “communicate” with one another. But API is not the database itself, it is the code that controls the access to the server, defines requests that can be made, and sets the rules of making them.

APIs makes the life of online platforms easier as there is no need to build  specific links for each service or product. As for the cryptocurrency, APIs enable access to market data on exchanges or blockchain protocols, and allows users to make and to receive payments with guaranteed safety — Application Programming Interface are highly important in preventing hacks.

API Keys

In order to use API, one needs an API key, a unique code passed in to an API to identify the user. API keys enable to track and control the API usage and also work as special passwords that let their owners access the information needed. 


What are API keys benefits in comparison to traditional keys we use on the Internet?
Firstly, ordinary passwords make sites times more vulnerable because they can be reused by companies. Meanwhile, API keys are always randomly generated, being extremely long, with no logical order of symbols used. As a result, they are nearly impossible to crack.

Moreover, traditional sites and software may ask you to update your username and password combination. This takes time, and it counts for, especially if you represent a business, every minute can cost you a sum. API solves this problem being automotized. 

As you see, API keys have significant pros. That’s why they are widely used by cryptocurrency services who aim to provide its clients with as safe and sound systems as possible.

Every reliable digital payment processing service offers APIs, that enable users to stay completely safe. NOWPayments provides you with a reliable API that takes just a few seconds to start. All you need is just sign up, specify your outcome wallet, and generate your personal API in a click.

With NOWPayments, you need no extra efforts to control the security of your digital assets, so you can focus on the pleasure of accepting cryptocurrency online.

Affiliate Program Update

Today when COVID-19 news are especially stressful and our daily routine has been completely changed, some extra money is what everyone needs to live through this. COVID-19 circumstances keep on striking businesses of all kinds with traditional money facing huge risks, but digital and safe cryptocurrency is pretty comfortable here, on the web. And cryptocurrency services are figuring solutions both to fight the pandemic and to provide you with some financial help. For example, we are getting donations to fight COVID-19 here.

The Update To Keep You Safe

NOWPayments knows that, in order to stay safe, some of you have to work from home and search for extra jobs to keep the lights on. As a payment processing service with a client-oriented approach, we have monitored the situation to find the best financial solutions that can really support you. So, today we offer you some legit passive income with the new update of our beneficial Affiliate program.

From now on, every time you introduce NOWPayments to a merchant, you receive $25 in NOW tokens. Afterwards, you will get 0,2% worth of each operation of the said merchant forever completely effortlessly. Earlier we offered you the gain from cryptocurrency exchange only, but now you can earn from every operation. What is the reason? NOWPayments takes care about its clients in these hard times.

The Rules

Of course, the Internet is full of opportunities, such as freelance jobs, but becoming an affiliate partner is times less stressful, and gifts you with lifelong stable extra income to rely on. Besides, there is nothing complicated to sort out.  The rules are simple. All you need is just to introduce us to a merchant, wait until this person becomes our partner, and then, get your reward. You will get your coins straight after the first cryptocurrency transaction.  In case if your merchants use buttons, plugins, or widgets, they should be represented on their sites.Be sure to #staysafe, use NOWPayments, and, to become our affiliate partner. Just contact us via [email protected] as soon as you can.

A Brief Inquiry Into Crypto Literacy

Cryptocurrencies have already changed our perception of money: borderless, banks-free, secure, and gradually developing, this digital capital is more than just money, it is a lifestyle. However, to make the most of it, one should be crypto literate in the times when even simple financial literacy is a rarity.

Reasons To Become Literate

They say that “financial ignorance carries significant costs”. And the saying works: today one of the biggest economic problems is the evident lack of financial literacy, and this point is especially obvious in connection with crypto. Even the curious ones tend to be demotivated from learning the ropes of the matter by the widespread attitude that crypto is too extra, a kind of luxury, so all and everyone must not boast of “bitcoins”. As a result, most people are far from understanding how blockchain technology works and being interested in investing. So, the legitimacy of the market is not in its best form. The good news is that learning crypto literacy means that you will have a clearer understanding of economic theory to realize where it comes from, how it gets its value, and why this value is changeable.

A Few Words On Financial Literacy

Let’s start our education with some point on financial literacy in a broad sense. What is it? Simply the skills that will help you to make wise and advantageous decisions with your finances. 


Firstly, stay conscious and take care of your budgeting by spending less than you earn. This will enable you to save your money for further financial operations that will bring you times more money and positive emotions: the best investment is investment in yourself.

Secondly, stay away from debts as long as you can. A cool thing for today can turn into a continuous torture for a few years. Do you really need to buy this house now? Is it legit? Why not just keep on paying rent till you succeed? Ask yourself straightforward and clear questions. And be sure to answer them sincerely.

Last but not least, prepare yourself for an emergency bund to stay safe and sound with no work during 6 months or more. If this seems to be senseless, just look around: COVID-19 has imprisoned us in our houses with little possibilities to work. Not everyone has a chance to go remote or to freelance. But that’s not the worst: though governments are helping citizens in most countries of the world, the pandemy has shaken the markets so much that we can’t predict what can happen with finances later. However, just let’s hope for the best and take care of our future right now.

A Closer Look

Speaking about the major crypto characteristics, we should admit that cryptocurrencies can be exchanged for fiat currencies via special online markets. Their drawback is that they are pretty vulnerable to hacking. As for the pros and cons of crypto, it is secure, prompt, and independent. To get the clearer picture, read more here.

As for the way it operates, crypto works with a ledger, so all operations are public and fair. The ledger is a decentralized (self-run and self-governed) record-keeping system.

Regulation

Nowadays crypto is legal in most countries. You can buy, sell, send and receive it almost all over the world. However, every government has its own rules to set. The most important thing is that you need to pay taxes for using your coins. Some operations are taxable, others are free. Again, policies vary depending on your country. Here you can get more information.

Safety Aspects

Though crypto is comparatively safe, the community faces unpleasant cases of theft from time to time. To be on the safe side, you should know how it happens. 

Cyber thefts are mostly aimed at huge crypto companies. But ordinary people can also face them via malware, when someone downloads anything from the Internet using some public Wi-Fi network or via emails and irrelevant fake websites.

Crypto literacy can save you from tears of being hacked: though this type of currency is considered to be safe, you should take care of its security, for crypto-theft can happen in different ways. For example, in 2018 $534 million worth of NEM coins were stolen from Japanese Crypto exchange as a result of the so-called “Coincheck Hack”.

So, let’s point out the key aspects of preventing negative situations. To begin with, you need to pay much attention to your digital wallet. Choose only trustworthy sources. Then, do your best not to leave all what you have in the same place. Use a reliable API. Create strong passwords that can be invented and remembered by you only. Always set on 2-factor authentication. Use secure payment processing, such as NOWPayments.

Apart from dealing with currency, you should also check market changes and keep on educating yourself. Again, NOWPayments is here to save your back: read our blog to learn more about DeFi, crypto taxation system, and other intriguing topics. 

Key takeaways

So, what is our crypto literacy strategy for you?

  • Keep on gaining financial knowledge with our blog and other relevant sources.
  • Form financial habits.
  • Achieve financial success.
  • Analyze your personal strategies.
  • Tell others about your positive experience.
  • Make crypto your lifestyle with NOWPayments.

Cryptocurrency gives a lot of opportunities. To make the most of them, follow the rules to stay literate and use the trustworthy services only — such as NOWPayments.

Disclaimer: This article reflects its author’s opinion only and is not financial advice. We take no responsibility for the results of any trader’s decision or action.

Taxes: Crypto Goes Legal

New Rules

Cryptocurrency taxations’ matter puzzles owners of coins worldwide. When did crypto become legal? Do we need to pay for all the operations or there are some exceptions? If you keep these questions in mind, NOWPayments has prepared for you a small report to clarify the situation.

To begin with, many people still think that crypto is grey and its users are free to manage their sources informally, but now coins are treated as property with digital representation of value. In 2017 the world came to terms with crypto being more than a passing thing, and in 2019 it ranked as the inevitable part of the future. For example, in the USA there were millions of crypto owners online with only hundreds of them reporting crypto trades. As a result, crypto tax policies were globally introduced with updated guidance and upgraded crypto tax rules. 

Different attitudes

Though crypto is an international phenomenon, each country has its crypto taxation peculiarities. Crypto owners from Brazil must report every crypto transaction monthly. Bermuda is going to be the first government with its own stablecoin, USD Coin, for tax payments.

In the UK the HMRC has changed its cryptocurrency taxation policy paper, so now crypto is not regarded as currency,  now coins are described as “cryptoassets”, so sales, exchanges, and other operations involving crypto are taxed. Salary and mining are subject to income tax. 

Taxation rules are not the same all over Europe, For example, in Denmark crypto traders are asked to provide Skattestyrelsen with detailed reports on their transactions, including profits and losses from 2016 to 2018. At the same time, in France crypto-to-crypto transactions are tax free, and crypto is taxed only when sold for fiat currency. So each country should be personally checked.

As for Asia, today there is no tax policy in China, however the situation may change anytime. In Singapore Goods and Services Tax doesn’t apply to crypto transactions. Meanwhile, in Thailand the government refunds taxes using blockchain, besides a blockchain-based tax payback system is supposed to be introduced this year to take the better control over tax payments.

Speaking about the USA, let’s point out taxable crypto operations:

  • Payments. When you do online shopping or pay for the services in crypto, you need to report them.
  • Sales. If you sell crypto for traditional money and get the gain.
  • Conversion.  When you convert your coins by buying some crypto vis another one.
  • Mining and forking. Whenever it is your hobby or a permanent source of finances, this kind of earning also must be reported.
  • Salaries and rewards. If your salary goes in crypto it will be taxed as your income. Earned interest is taxed as well.
  • Donations. Donating more than $500 in crypto requires the filing of Form 8283.

Not everything comes with a price. There are some crypto operations that require no taxes:

  • When you gift someone with coins, you don’t have to pay taxes.
  • Transferring crypto from one wallet to another with no gains or losses.
  • Buying crypto with cash is not taxable till you trade.

As you see, crypto taxes in 2020 can be not as messy as it seems. Enjoy paying and accepting money with NOWPayments and pay your taxes on time.

XEM Is Now Listed On NOWPayments

NOWPayments is happy to announce partnership with NEM. Now XEM is a new payout option, available for safe and prompt financial operations all over the world.

XEM is the native currency of NEM (New Economy Movement). This token is widely used for transactions and has a real value as the currency of a functioning economy. 

What are its distinguishing features? Firstly, NEM has a special algorithm called the “Proof of Importance” that creates a decentralized node network. Then, the amount of coins is fixed, so no inflation can occur. Besides, it features High TPS and doesn’t take much electricity to be generated.

NEM, the blockchain platform written in Java, was created as an efficient response to the quickly-developing global economy in 2014 by a BitcoinTalk user “utopianfuture”, aimed to create a flexible payment system. The community was built from scratch and got really big due to the people-oriented approach.

As a customizable and flexible service, NOWpayments perfectly fits XEM. You can use it to receive and to make payments in XEM just in a few seconds, worldwide and on advantageous terms. You can also exchange tokens via our service in a fast and secure way. 

By the way, we has recently launched Invoices. Check it out here. For more updates, read our blog and be sure to follow us on Twitter and Facebook.

New Update: Invoices

NOWPayments is thrilled to present Invoices.

With this update your brand will look more impressive and formal. And your payments processing will also become more comfortable: now you don’t have to send your wallet address, the sum to be paid, and the specified currency separately — everything is in the same place. No pains, just gains!

What are the major benefits of using Invoices?

  • Convenience: with invoices, you will always receive money with no huge forms to fill in. Only a sum, a small description, and the type of currency. 
  • Meanwhile, invoices encourage customers to pay immediately: they look formal and take a click to be , so your clients will also save their time.
  • An option of keeping the record can enable you to track your money processing and prevent problems with taxation.
  • Operations may be repeated, and you don’t have to put down any data once more, just send links or QR codes to use it as many times as you need.
  • We know that sometimes invoices are poorly-crafted and can puzzle clients. To save you from this, NOWPayments has created a simple system with a cool and user-friendly interface with just a few steps to follow.

How to start using Invoices?

  • Just click the button and insert the following information:
  • Fill the Order Description with some brief information on your service or product.
  • Provide the system with the Order ID.
  • Choose the currency you want to be paid in.
  • Set the price.
  • Then, you click the “Create Invoice” button.
  • Now you have two options: you can send the Invoice directly to your client as a link  or you can provide him with a QR-code, wallet address and the sum

Don’t forget that you are free to resend the same link anytime you need, and also can see the history of orders. Make the most of your money processing with NOWPayments!

How To Avoid DeFi Problems

What is DeFi?

The Term

Whenever you are a crypto pro or a beginner, you have probably come across the peculiar term DeFi, the short form of Decentralized Finance. What does it mean? 

The term refers to the financial ecosystem comprising tools, resources and platforms that automate traditional operations without any third party interference.  Services include: decentralized exchanges, lending,borrowing and prediction markets, assets, derivatives, payment networks, and insurance. 

Most of the DeFi dApps are built on Ethereum, known for its flexibility with Ether (ETH) as its native cryptocurrency. In a word, DeFi is a blockchain-built lego-like financial open source software.

DeFi vs FinTech

You might have heard that DeFi is regarded as the complete opposite of FinTech, traditional financial technology services, notorious for the high level of bureaucracy. The truth is that DeFi keeps on being an open source while FinTech is about proprietary software.

Advantages

DeFi is supposed to be revolutionary, and it has some obvious benefits to pay attention to. Firstly, DeFi is an open system, so anyone can set up an app and use it with no bureaucracy to fit in. Secondly, it is flexible. Anyone can use DeFi and adopt it to their personal needs. Smart contracts are at your disposal.

Financial inclusion is among DeFi’s major benefits. Being unbanked means that you have no checking or savings account, and receive no financial products or services, or in a way underserved. Nowadays there are nearly 2 billion unbanked people: 225M in China, 190M in India, 100M in Pakistan, and 95M in Indonesia. Almost 9M of the unbanked in the USA. Looks creepy?  But DeFi banks the unbanked, working for financial inclusion and letting everyone from all over the world to use the same financial opportunities. The Internet connection is the only circumstance that counts.

Last but not least, DeFi is a cure for the volatile currency that enables users from such volatile countries as Egypt, Thailand and Turkey to benefit from financial operations.

Problems

The advantages represent the DeFi dream without a hitch, but the reality strikes making it non-revolutionary, as one may think. Problems are marked by the two major aspects: security and dependency. 

The first thing is that the openness of DeFi makes it a trust-minimised software with vulnerable protocols. The notorious DAO hack happened in June 2016, but this was not the only incident. For example, the Ethereum-based bZx protocol, the seventh hugest DeFi project, has been recently attacked with $350k lost in a click. The introduced solution was a decidedly non-decentralized master key. Litecoin founder Charlie Lee called the system a «theatre», that can be easily damaged by a centralized entity. 

Moreover, DeFi’s dependence on ETH results into no backing or stability to be proud of. Ethereum keeps on dominating the DeFi lending marketplace, and due to its abrupt downturn even MakerDAO’s protocol has prepared for a shutdown recently. ETH, being the most of the DeFi money, experiences the highest drop, shaking the full system of lending and borrowing. Today 82% of its owners sustain losses, and the relative strength index shows more waste to come. 

Speaking about the problems caused by the users themselves, some people are not ready for being their personal banks. However, if you have the total control of your finances, it is you who bears the blame for forgotten passwords and lost private keys. The research shows that nearly 20% of all BTC has been lost just due to users’ poor memory. Meanwhile, the chances to get the money back are pretty fat for the unlucky owners: it takes months and great sums, and a low percentage of decryption operations can be called successful.

Solutions

As you see, DeFi has its imperfections, but what to do if you are already in the game? Well, NOWPayments has prepared a few tricks for you. 

As a lender, you can use DeFi as the source of your passive income. If you are a borrower, you can buy an asset and sell it straight away, exchange for any other crypto coin. Besides, you are free to get governance right by borrowing a token temporarily.

Stay tuned with the course of the financial market reading daily predictions. And you can also just relax and follow our twitter with the latest news.

With NOWpayments you can make all types of transactions in a wide variety of cryptocurrencies. Now there are over 30 coins to make the most of, and we are always eager to expand the list in accordance with your needs. 

Start now to benefit from DeFi and to make crypto your lifestyle!