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Crypto Speak: CeFi

🟢“CeFi” (centralized finance) is an intermediate link that unites the DeFi segment with the world of traditional finance.

🟢In general, almost any CEX can be called a visual representative of CeFi. Exchanges such as Binance, Coinbase, and Kraken are not decentralized.

🟢However, they offer a much more user-friendly interface and interaction experience than most DEXs, and for this reason, CeFi has significantly more users than DeFi and its DEXs.

🟢True crypto punks are of course angry about this state of affairs because they remember that, at the very foundation of crypto lies the idea of decentralization, but most users hang out in the CeFi field because it’s more familiar and convenient

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Crypto Term:Liquidity Mining

🟢Liquidity Mining is a process in decentralized finance (DeFi) where users provide liquidity to a DeFi protocol, typically by depositing cryptocurrency pairs into a liquidity pool.

🟢In return, these liquidity providers earn rewards, often in the form of additional cryptocurrency tokens.

🟢This concept is central to many DeFi platforms and plays a crucial role in ensuring there's enough liquidity for trades to occur without large price slippages.

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The UN says USDT is a major tool for money laundering.

🟢The United Nations has warned about the widespread use of Tether (USDT) in illegal activities. It appears that USDT has become a key tool for money laundering and fraud in Southeast Asia.

🟢Criminals use the asset to launder money and operate illegal online casino platforms.

🟢The report notes that criminals’ interest in the stablecoin is mostly justified by the speed and irreversibility of transactions.

🟢The funny thing is that all of us fell in love with USDT for exactly the same characteristics 😂

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Crypto Speak: Circulating supply

🟢The term may look complicated, but it’s actually simple. It’s the number of coins that have already been issued and are available for trading on the market.

🟢This does not include coins blocked or held by founders, only those in circulation among regular users.

🟢“Circulating supply” is one of the most important factors in analyzing any crypto project.

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Crypto Speak: Bounty campaigns

🟢These are various reward techniques aimed at attracting new users. They usually involve tasks and rewards for completing them.

🟢This is how it goes down: You subscribe to a crypto project’s social media and then, say, perform some actions on the platform.

🟢For completing tasks, you may be rewarded with bonus coins or given a chance to participate in a draw for valuable NFTs or tokens

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Crypto security tip: Spam scam coins

🟢If you actively interact with your noncustodial wallet, you’ll soon start receiving various scam coins in varying quantities.

🟢Scammers use them for a variety of purposes—e.g., to confuse you into sending funds to their wallet. Or to get you interested in the coin and visit their site.

🟢We recommend you never visit sites representing these suspicious scam tokens. Crypto beginners are curious and interested when they see that a few thousand coins were sent to them “just for fun”; however, don’t believe everything at face value—99.99% of the time, it’s to deceive you.

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What is dust?

🟢Dust in cryptocurrencies is an amount of crypto so small that it won’t even be enough to pay the transaction fee.

🟢Imagine that you have 1 cent left in your wallet. You won’t be able to buy anything with it, but if you decide to exchange it at a bank for another currency or send it to a friend, the exchange fee will exceed the cost of the cent itself.

🟢This example describes the crypto industry’s concept of “dust” well.

🟢Sometimes, a dusting distribution is used by scammers to commit a so-called “dust attack,” which we’ll cover soon.

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