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  2. 17
    CoinSwap Space Opens Staking Pool With $ADA Rewards CoinSwap Space, a decentralized exchange (DEX) built on the Binance Smart Chain, has announced the opening of a staking pool with rewards in Cardano ($ADA).The new staking option will allow participants to stake the protocol’s native $CSS token and earn either $ADA, $ETH, or $LINK. With the launch of this new staking pool rewards program, CoinSwap Space now extends its decentralized finance features to more retail investors looking to grow their portfolio.CoinSwap Space has also announced the launch of a new yield farming pair on their decentralized exchange, with USDC/BUSD now available for users on their decentralized exchange. The firm has also disclosed that it has signed up with CoinMarketCap for an airdrop event coming soon.CoinSwap Space is one of a select few protocols that have been certified pre-launch by blockchain security auditing firm Certik, with its smart contracts undergoing industry-leading verification tests. CoinSwap Space’s $CSS is also now listed on Math Wallet and Klever Wallet.This development is significant because USDC, or USD Coin is a major digital stablecoin pegged to the U.S. dollar running on leading blockchains such as Ethereum, Stellar, Algorand, Hedera Hashgraph, and Solana. Binance’s BUSD, on the other hand, is a fiat-backed stablecoin designed as a low-volatility asset for crypto investors looking to close their portfolio from within the crypto space itself.Despite recent attention from regulatory bodies on Binance’s compliance status, the firm remains to be the world’s largest crypto exchange. To date, Binance has several extensive and important services for the crypto community such as CoinMarketCap, the world's most-referenced price-tracking website for crypto assets, and Trust Wallet, a highly secure crypto wallet which serves as Binance’s official crypto wallet.CoinSwap Space’s build on the Binance Smart Chain provides it with extensive interoperability and cross-chain liquidity with projects on the decentralized finance space built for compatibility with the BSC protocol.As a small-cap token, CoinSwap Space’s $CSS has been greatly affected by the recent volatility in the crypto market. As such the move to offering $LINK (Chainlink), $ETH (Ethereum), and now $ADA (Cardano) is a strategic decision to bolster its positions. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

    22 Jul
  3. 21
    DeFi gaming is here to stay: Introducing CoinFantasy. The gaming industry is considered one of the fastest-growing sectors. In the last few years, the demand for fantasy gaming has increased, with more and more users jumping in the gaming feast and taking their share of fun. The fantasy gaming program provides a rich and refined game interface that allows players to participate in the creation of private leagues and track players’ results and positions on match days in real-time. It offers a thrilling experience to the players as they dive into a new genre of gaming.  While most games stream online, players get virtual assets that help the character reach their goal using these tools, including cards, weapons, and attires. The Global Gaming Market stands at $173.70 billion in 2020, anticipates reaching a value of USD 314.40 billion by 2026, with a CAGR of 9.64%. Over 59 million people play fantasy games in the US and Canada, according to the FSGA. This number could increase to 150 million by 2022. Millions of fans across the world enjoy fantasy sports. This number could increase significantly in the near future due to the rapid adoption of easy-to-use fantasy games applications and the widespread adoption of the Internet. Hurdles in Fantasy gaming As the industry grows, new challenges arise. Most of these obstacles are a lack of transparency and trust between game developers and players. Games usually have an economy. This field is entirely under the control of the developer. Users also want fairness and transparency when trading and owning assets. These hurdles include centralization, late settlement, no gamification, and zero value creation. The rise of DeFi gaming The rise of decentralised finance marks the start of a new era; it is not only transforming the finance landscape and firmly expanding its use-cases in the art industry. The next big boom is DeFi will come from the gaming sector, with more web 2.0 games coming to web 3.0. The DeFi mechanism allows blockchain games to offer players multiple ways to calculate and receive rewards. This increase in monetary gain is interesting. Prediction and fantasy games are some of the most popular genres in the blockchain. This is because players can feel associated with real-world games and use their expertise to bet on the consequences and earn rewards in tokens to sell and exchange their tokens and assets.  Introducing CoinFantasy: The solution to current hurdles  CoinFantasy, a top-notch NFT based fantasy gaming platform, invites users to predict their favourite coins’ outcomes and earn crypto.  The highly gamified platform allows users to interact with multiple gaming options, including where users can enjoy instant rewards. The platform tailors to provide gamers easy access while eliminating the rigorous process and delayed settlements. The platform overcomes the hurdles of the current gaming sector with its decentralised, secure, gamified, and instant settlement platform. The native token of the platform, cFantasy token is a utility token that plays a major role in the CoinFantasy ecosystem with exclusive voting rights, enabling users to cast their vote in any decision for increasing platform functionality and usability. The Uniques features offered by CoinFantasy Some of the features which make CoinFantasy stand out among its competitors are:  NFT Launchpads -  By adopting the elements of game theory, CoinFantasy incentivizes repetition by allowing users to mint limited edition NFTs and sell them on the launchpad.  Also users who purchase these NFTs will receive a share of the prize money as royalty deal.  CoinLaunch -  CoinLaunch is a proof of concept to gamify launchpads where users participate in games to get whitelisted for coin allocation and airdrops. This mechanism prevents bots and ensures genuine people who are interested in the platform. DeFi - CoinFantasy uses on-chain data and AI technology to create a credit score for the users. This credit score is an alternative to the traditional credit score and enables unique DeFi elements such as under collateralized loans, insurance for game creators and Yield Farming.  CoinFantasy was launched with the vision to gamify finance and introduce the concept of fantasy gaming to the financial markets. For more details about CoinFantasy visit their website on or join their telegram channel here: Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

    ai ca 22 Jul
  4. 60
    Celer Launches cBridge for Direct Transfers Between Eth... Layer-2 scaling platform Celer Network has released the first bridge designed for moving funds between Ethereum L2s. cBridge supports Arbitrum and Polygon, allowing users to move funds from the likes of Quickswap (Polygon) to Uniswap (Arbitrum) without the need to interact with Ethereum. Promising up to 1,000x cost reduction versus existing bridges, Celer’s L2 bridge will give defi users a means of funneling funds between the leading DEXs, yield farms, and lending protocols. Binance Smart Chain and Ethereum are also supported in v1.0 of cBridge, and it is expected that support for additional L2s will be incorporated with subsequent versions. The People’s Bridge Opens for Business Keeping track of the number of bridges available for routing funds between blockchains has become a full-time job; every week a new cross-chain bridge appears promising to improve upon its predecessors in terms of speed, cost, and UX. Celer’s effort is likely to gain traction, however, not just on account of its performance, but due to the networks it supports. Many defi users have yet to get acquainted with Arbitrum, despite Uniswap launching there earlier this month, but are very familiar with Polygon. Having the option to send funds from the latter to the former and vice-versa will increase the appeal of LP’ing on Arbirtrum while cementing Celer Network’s credentials as a vital cog in the blockchain scaling game. “As an open-source platform with the mission to bring blockchain adoption to mainstream, our goal with cBridge is to deliver a high-performance and cost-efficient interoperable value transfer network with no compromise on the security or trust-free guarantee,” explained Dr. Mo Dong. Celer Network’s co-founder added, “We will continue to support and facilitate projects that build on top of our solutions.” How Celer Slots Into the Scaling Landscape For defi users who’ve been following the scaling wars closely, many of Celer Network’s features will sound familiar. It promises multi-chain and cross-layer support for ‘L2s,’ the term given to crypto networks that are broadly pursuing the same goal: helping Ethereum to scale. At its peak, during May’s dog coin season, Eth fees spiked to over 1,000 gwei, rendering the network unusable. Gas prices have since dropped sharply, and gwei is now usually in the low double digits. Nevertheless, defi users who have grown accustomed to swaps on L2s such as Polygon for less than a cent now balk at paying $10 for doing the same on Ethereum. Thus, the introduction of bridges such as Celer’s will be welcomed by hardcore defi users. The ability to circumvent Ethereum entirely will make cross-chain swaps multiples cheaper and faster. Celer was designed to support micropayments, defi, gaming, and other applications that are reliant on low-cost transactions that are settled in real-time. The platform boasts superior user experience and robust security thanks to its State Guardian Network. Built using the same technology as is used in Celer’s State Channels, cBridge minimizes blockchain hopping, allowing funds to be moved faster and with less friction. With plans to eventually support blockchains such as Polkadot, Celer Network’s cBridge could become a vital hub in the superhighway that connects the burgeoning defi landscape. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other adv

    mo 22 Jul
  5. 73
    Cryptocurrency and Taxes: Here’s What You Need to Know Different countries have different approaches when it comes to cryptocurrency and taxation. In several countries, cryptocurrency is not regulated and cannot be taxed. Due to their seemingly abstract nature, countries like Turkey, Bolivia, and Nigeria banned cryptocurrencies outrightly, making it illegal for financial institutions to facilitate crypto trades. However, countries like the US are very open to cryptocurrency and have found a way to regulate the industry and generate revenue from its transactions. For a start, every cryptocurrency exchange operating in the US is bound by the Bank Secrecy Act (BSA). Through this regulation, it’s possible for the Internal Revenue Service (IRS) to monitor crypto transactions and collect taxes from you whether you are a crypto investor or just a hodler.   Here’s Why You Pay Taxes on Cryptocurrency The IRS considers all forms of cryptocurrency as properties and thus, treats them in the same category as bonds and stocks or any financial instrument in the foreign exchange market. So even though cryptos are not physical assets, they are as valuable and taxable as a condo or car. The IRS started taxing cryptocurrencies in 2014. Since then, the agency requires taxpayers to report all cryptocurrency transactions in their tax returns. Although not so many are aware of the taxes incurred on cryptocurrency, others may have expressed dissatisfaction and concerns in their crypto experiences in cases of unwarranted deductions when cryptos are transacted in exchanges. A fair market value (FMV) is applied to calculating taxes for crypto assets in an open market. However, here are a few things you need to know about cryptocurrency taxes in the US, which is similar to other countries with regulatory standards for the industry. 1. All Bitcoin and Ether Transactions Attract Taxes Bitcoin, Ether, and any tradeable virtual currency recognized by the IRS is taxable, and the agency mandates you to report them using an FMV. Here is how it works: When you’re paid in cryptocurrency for a product sold, service rendered, or work done, the IRS treats such payments based on Form 1040, and thus, should be reported. Buying and Selling Crypto on third-party markets or P2P warrants capital gain taxes. When you convert Bitcoin to fiat currency, such as USD, you will need to report such transactions as well. 2. Crypto Miners are not Excluded from Paying Taxes If you mine crypto as a hobby, you will need to report your transactions as taxes. Since most miners do it for profit or business, they are mandated to remit taxes from gains. A fair market value applies, meaning that you report the value of crypto transactions at the price they were mined. With this, you may have a tax reduction following costs and resources you spent to mine the crypto. 3. Cost of Crypto Transactions is Important in Reporting Taxes To calculate a fair market value for your crypto asset, you need to know its true cost. For instance, when you buy a crypto asset worth $50 and sell it at $100 due to volatility in the crypto market, $50 becomes your capital gain of which you should account for in taxes. Knowing the costs allows you to give proper accounts when you encounter losses to avoid overspending in taxes while in a loss. 4. Ignorance is Not an Excuse The IRS uses a strict approach to crypto taxes. Form 1099 covers taxes from miscellaneous incomes other than salaries or tips. While Form 1040 is the US Individual Tax Return which is taxes calculated annually from your total income. You cannot escape paying taxes on such counts because Form 1040 requires you to answer questions on when and how you have traded or exchanged crypto in the past. Sanctions may apply if you fail to act in accordance. 5. Gifts and Donations are Taxable Gifts and donations, or any form of crypto inheritance, are seen through the eyes of financial appraisals. Crypto donations are seen as cash donations, and a fair market value applies to them. As the donor, you only account for taxes for the value of the crypto when donated. Subsequent activities following it do not affect you, such as when the inherited crypto gets recycled in the market or when its value appreciates. None of that affects you. Rather, the new holder or seller pays for capital gains. 6. Accounting for Taxes have a Limited Approach for Crypto Investors There are few approaches for calculating taxes for crypto investors by the IRS. It becomes difficult for beginners to report taxes. The most popular ones are the Highest in, First out (HIFO); the Last in, First out (LIFO); and the First in, First out (FIFO) methods of accounting. However, the FIFO is the most available for use by crypto investors in which crypto assets bought first are first accounted for. The easiest way to navigate these crypto tax complexities is to use professional cryptocurrency tax reporting solutions like Atani. Atani is a free all-in-one crypto platform that allows you to trade and manage cryptocurrencies in over 20 crypto exchanges. That way, it’s easy to generate your audited tax report with a click of a button. Apart from other features the platform boasts of, its tax reporting feature has proven to be very helpful, saving many crypto traders money, stress, potential issues with the authorities. Conclusion Accounting for crypto taxes can get tricky and difficult. It’s most daunting because it’s got lots of grey areas. While most countries are still indifferent about taxing the industry, we expect a shift in that position in the coming years. And the chances that they will take the US government’s approach are high. Whatever be the case, consult a tax attorney or use a standard crypto tax reporting tool to save you the hiccups. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

    22 Jul
  6. 90
    GGIVE Wants to Make Crypto a Safer Place for Investors ... Having a safe and reliable experience in crypto is an essential part of driving mass adoption. Rug-pulls and scams hurt the space more than any regulation because it erodes trust in the market. GGIVE, formed in the wake of such an experience, has made it the mission of the GGIVE team that it does not happen to anyone else. Launched 1st May 2021, GGIVE is a community-driven charity token built on the Binance Smart Chain looking to make a difference. Founded after a group of investors were the victims of a rug-pull, the GGIVE team has since dedicated themselves to providing a safer and more transparent crypto experience.  GGIVE has since evolved from a small group of crypto enthusiasts to a diverse body of talents dedicated to making crypto a safer place for investors to generate wealth and give back to the community. GGIVE is attempting to provide a real-world benefit; there are thousands of cryptocurrencies on the market. Few have a reason for existing besides attempting to cash in on the exploding interest in crypto. GGIVE wants to be the exception and be a force for good in the world. They do this by being a bridge between crypto and fundraising for charities.  GGIVE donates the proceeds of every investment in the GGIVE token to charity. Which charity receives the donation is determined every month, giving investors a broad range of options to raise funds and give back. To set themselves apart from other projects, the GGIVE team has doxxed themselves online. They say they have done this because they are proud of the project and what it can achieve.  "We feel that if you truly believe in what you are doing," GGIVE said, "and are proud of what you are doing then you should have nothing to hide." According to GGIVE, their charity partnership program ensures any size charity benefit, not just from a one-off donation but continued support. This partnership and support open the door for charities opening across the globe to raise funds based on their needs and area of operation. "We are here to disrupt an archaic system," the team said in a statement, "and replace it with a model that benefits investors, charities and the donators in a much better way." By focusing the project's goals on giving back to the community, GGIVE has positioned itself to be the token of choice for global charities. They do this by making it possible for donations to be sent in $GGIVE from anyone worldwide to any charity. GGIVE believes their tokenomics ensure organic growth. GGIVE offers a progressive "toxic whale" tax, automatic liquidity pool (LP) generation, dedicated charity wallets, and static reflection. Reflection, similar to Proof of Stake (POW), rewards holders of the token dependent upon the volume held. The aim is to reduce selling pressure and encourage organic growth; this is particularly important for GGIVE in the early adoption phase.  GGIVE says $GGIVE holders can earn passive income with every transaction by increasing their tokens with 2% of transactions redistributed to them. Wait! What is a "toxic whale" tax? Because crypto has a history of volatility due to whales buying or selling a large amount of cryptocurrency or outright manipulating the market via pump and dump schemes, GGIVE has developed a novel way to prevent these actions from ruining customer's experiences.  GGIVE has formulated a progressive taxing system that aims to discourage large dumps and market manipulations. GGIVE says they are committed to protecting its investors and "ensuring a steady rise to the moon!" The "toxic whale" tax will apply to each transaction and increase depending on the number of tokens sold as a percentage of the total circulating supply. GGIVE says the "whale tax" will be added to the nominal 10% tax for all transactions, and tax will not apply to token buyers. Enter the Bot Killer Bots have become a persistent issue in crypto because the team at GGIVE has had the experience of going through a rug-pull, something that no honest investor wants to experience. GGIVE says they have invested many resources to ensure that the GGIVE token is not ruined and manipulated by bad actors using bots.  How are Charities Chosen? GGIVE chooses its charity partners through a careful vetting process. Once accepted, partners receive an initial donation. Not content with just providing funding, charities can also expect to receive continued support from GGIVE. "We encourage our community members put forward their suggestions for charities," the team said, "once vetted and shortlisted, we hold a community vote for each month's charity of the month." GGIVE says while there are numerous benefits to becoming a partner, a registered charity can promote on their website and use their dedicated wallet that supports $GGIVE tokens to receive funds. Giving the GGIVE community options to store their tokens is just one way GGIVE is building trust in the community. GGIVE believes in providing a co-beneficial financial ecosystem, and by using GGIVE's innovative platform, charities will have a continuous means of fundraising and donation via $GGIVE. $GGIVE is available on PancakeSwap and supported on TrustWallet. Follow GGIVE on Social Media The GGIVE team is active on social media and has several ways to interact with the GGIVE community. To learn more about GGIVE, visit the official GGIVE website and to get in touch with the team, follow the official GGIVE Twitter account @ggivetoken or on the official Telegram and Discord channels @ggivetokencommunity Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

    21 Jul
  7. 98
    How to stake and earn with PhoenixDAO PhoenixDAO is a community-focused decentralized platform built to introduce new standards for DAO. PhoenixDAO takes an edge over traditional blockchain-based distributed organizations by offering a new and improved structure. It was started with the vision to build futuristic standards of a decentralized blockchain system.  Overview of PhoenixDAO Phoenix is ​​a decentralized organization (DAO) built on the top of blockchain technology hence inherently comes with transparency and safety. The Phoenix system is based on an algorithm that enables users to multiply the value of their financial assets with minimal security risks. PhoenixDAO offers a suite of decentralized protocols and products based on digital identity. The PhoenixDAO is bringing revolution by transforming the existing digital identity system to a new digital economy that covers DeFi, NFT, decentralized governance through authentication, payments, and linked identity. A Brief Synopsis of Phoenix DAO ProductsThe products include a decentralized autonomous organization (DAO), a staking dApp, and an events dApp, let’s dive deep to know more about these products:  Phoenix DAO:  A DAO setting new standards with its unique and much-anticipated features which include governance, self-sustaining model fueled by revenue-generating products, earning opportunity for users, Open and global framework.    Staking dApp: The staking dApp enables users to maximize their rewards with features like Flexible staking/liquidity farming, Advantages over bulk staking, and luxury to use the spot staking feature in V1.0 or liquidity farming version in V2.0. Events dApp: The event dApp is one of the most advanced and key features of the PhoenixDAO ecosystem, which aims at transforming the event landscape with its next-generation event NFT ticketing and on-chain management platform. PHNX tokens are at the heart of the PhoenixDAO ecosystem, In the main PHNX is an ERC20 based utility token however, also available on Polygon and Binance Smart Chain. The role of token is not only limited to the products and protocols of the ecosystem but also be utilized for paying gas fees. To participate in PhoenixDAO and to use any dApp or perform any action PHNX token is essentially required whether it’s Staking, Voting, or anything else. The PHNX token holders will be able to participate in the voting within the ecosystem and submit their proposal or cast their vote by staking their PHNX token and also get incentives for locking their PHNX tokens for a certain period of time. Stake and Earn with PhoenixDAO Staking DAPP Staking dApp as the name suggests is a decentralized staking application where users can stake their PHNX tokens and earn lucrative rewards on their staking. The app doesn’t only allow users to earn higher interest on their staking but also plays a major role in fueling PhoenixDAO’s ultimate vision.  PhoenixDAO staking dApp offers a standard yearly APR of 20% based on the staking of PHNX tokens within the Dapp, the incentives on staking vary on the number of tokens staked and on the duration selected.To stake PHNX tokens on the PhoenixDAO staking dApp users need to follow these steps: Step 1: Go to the Staking dApp of PhoenixDAO using this link: Step 2: Click on the “Connect Wallet” button available on the top right corner of the page, connect your Metamask wallet Additional wallets will be supported in later versions. Step 3: Once your wallet is connected the PHNX balance will reflect on the dashboard, click on the “Stake Now” button or go to the staking tap on the sidebar, now select the number of tokens you would like to stake and also select staking duration. Step 4: If you wish to unstake your PHNX tokens at any point in time you can simply select the Unstaking tab provided in the sidebar and process with unstaking by entering the amount of PHNX you would like to Unstake. To ensure good acting within the DAO ecosystem early withdrawals are subject to a token burn. Step 5: At the end of the specified staking period, stakers will receive rewards directly in their wallets. For more information about PhoenixDAO, head to: Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

    21 Jul
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