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Taiko (TAIKO): Scaling Ethereum with Based Rollups

What is Taiko (TAIKO)? Taiko (TAIKO) is a fully permissionless and decentralized ZK-Rollup layer-2 that is Ethereum equivalent. But what does that mean for the average user? Simply put, using Taiko is akin to using Ethereum itself. It retains all the core properties that make Ethereum a powerhouse in the blockchain world – censorship-resistance, permissionless nature, and robust security. How Taiko (TAIKO) Works Taiko operates on the principle of a based rollup, a revolutionary concept that distinguishes it from traditional rollup solutions. Unlike other rollups, Taiko's sequencing is not driven by a centralized entity. Instead, it relies on Ethereum's base layer for sequencing, effectively decentralizing the process and empowering the community. The Significance of Based Rollups Based rollups are an innovative solution to blockchain scalability. By aligning with Ethereum's base layer for sequencing, Taiko enhances security and decentralization. This approach not only simplifies the architecture but also reinforces Ethereum's economic guarantees, as most MEV flows naturally to the base layer. ● Decentralized Sequencing: Based rollups remove the need for centralized sequencers, placing the sequencing responsibility on Ethereum's base layer validators. This decentralization ensures trustlessness and resilience against attacks. ● Economic Alignment: By aligning with Ethereum's base layer, based rollups strengthen Ethereum's economic guarantees. Most importantly, MEV (Miner Extractable Value) flows naturally to the base layer, enhancing economic security and scarcity of Ethereum's native token. ● Simplicity and Efficiency: Based rollups streamline the transaction process, making it more efficient and cost-effective. With no need for complex consensus mechanisms or external validators, based rollups offer a simpler and more user-friendly experience. The Components of Taiko ● Settlement Layer: Ethereum serves as Taiko's settlement layer, providing objective on-chain finality. ● Data Availability Layer: This layer ensures that everyone can access the data required to reconstruct the Taiko chain state. ● Consensus Layer: Taiko does not have a separate consensus layer. Instead, it leverages Ethereum's consensus mechanism for transaction ordering, enhancing decentralization. ● Execution Layer: Taiko executes transactions off-chain, utilizing the posted transaction data to construct the state of the rollup. TAIKO Goes Live on Bitget TAIKO, the native governance token of Taiko, is now listed on Bitget. Bitget's platform offers users a secure and accessible environment for trading TAIKO, enabling them to engage in the governance activities of Taiko while also benefiting from the liquidity and trading opportunities provided by Bitget's platform. This listing provides an opportunity for individuals to actively participate in the Taiko community and contribute to the growth and development of the ecosystem. Spot Trading Link: TAIKO/USDT Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

How to Navigate the Emergence of Web3

TL;DR Web3 is the next generation of the internet, aiming to achieve serverless and decentralized infrastructure and providing users with control over their own identity and data. Web3 leverages blockchain as its core technology and relies on a decentralized network to establish a more open, transparent, decentralized, and secure Internet. Web3, with its unique advantages, will accelerate the widespread adoption of blockchain technology. Web3 is still in its early stages and it holds great potential and opportunities. The rapid development in fields such as decentralized finance, metaverse, GameFi, and AI will drive the acceleration of the Web3 era. The internet has been in existence for just over 40 years, yet it has had a profound impact on the progress of human society and transformed various aspects of our lives. Now, we can enjoy the convenience and comfort brought by the internet without leaving our homes. With the emergence of blockchain technology, the internet is entering a new phase known as Web3. So, what is Web3? And what changes and opportunities will it bring for us? What is Web3? Web3 is considered the next generation of the internet, built on decentralized networks and blockchain technology. It enables users to have greater autonomy over their data and digital identity, as well as conduct transactions and interactions with enhanced security. The concept of Web3 was first introduced by Dr. Gavin Wood, one of the co-founders of Ethereum and Polkadot, in 2014. He stated that Web3 is a set of broad movements and protocols initiated to make the internet more decentralized, verifiable, and secure. The vision of Web3 is to achieve a serverless, decentralized internet where users have control over their own identity, data, and destiny. Web3 will usher in a new global digital economic system, create new business models and m arkets, disrupt platform monopolies, and drive widespread, bottom-up innovation. As a result, Web3 is often referred to as a decentralized internet running on blockchain technology. How does Web3 work? Web3 operates in a significantly different manner compared to the traditional internet. It will use blockchain technology as its core, relying on decentralized networks to create a more open, transparent, decentralized, and secure internet. In the Web3 world, data and applications are no longer stored on centralized servers, but distributed for storage and processing through decentralized networks. This means that user data is no longer owned by a single company or institution but is entirely under the user's autonomous control. Users have greater control over their data and digital identities, as well as more secure transactions and interactions. As Gavin Wood stated, "Web3 transcends many things. It provides you with a platform composed of multiple protocols, formats, and technologies from which you can choose to create the decentralized services or applications you want, without being limited to any single platform. " The Potential and Advantages of Web3 Technically speaking, Web3 has a number of core advantages. It not only addresses the existing issues of the internet but also accelerates the implementation of blockchain technology. 1. Trustlessness: Trustlessness is a key feature of Web3. Web3 can achieve trustless transactions and interactions, meaning users don't have to rely on intermediaries or third-party institutions. All data and identity information is under the users' control, fostering a more equitable and liberated online environment. 2. No single point of failure: In traditional internet architectures, because data and applications are stored centrally on centralized servers, any failure of these servers can lead to system crashes, resulting in unforeseeable losses. In contrast, Web3 eliminates reliance on intermediaries, and data and applications are no longer stored centrally on centralized servers. Instead, they are distributed and processed through decentralized networks. This distributed storage and processing approach can prevent single point of failure issues, ensuring that even if a node experiences a failure, the entire system can continue to operate smoothly. 3. Interoperability: The "walled garden problem" has hindered the rapid development of blockchain technology. Web3 can achieve interoperability between different blockchains, allowing users to use different blockchain applications and services more flexibly. This will significantly accelerate the widespread adoption of blockchain technology. Emerging Web3 Opportunities Currently, Web3 is in its early stages, with many foundational infrastructure elements under construction. We still have a long journey ahead of us to reach the Web3 world we envision. However, in certain fields, numerous promising projects have already emerged, such as decentralized finance, the metaverse, GameFi, and more. They are accelerating the arrival of the Web3 era. DeFi is one of the most important infrastructures for Web3. It is an innovative financial system based on blockchain technology, designed to eliminate centralized institutions and intermediaries in traditional financial systems, thereby achieving more fairness, transparency, and open financial services. There are many successful examples, including Uniswap , Curve , 1inch, and others. The metaverse is an important application scenario for Web3. The metaverse is a virtual world governed by smart contracts, enabling interactions with the real world and facilitating the trading and management of digital assets. Metaverse will bring new virtual experiences to users, such as virtual reality games, virtual art exhibitions, and virtual stores. Some of the popular metaverse projects at the moment include The Sandbox , Decentraland, and more. GameFi is an emerging application direction for Web3. Blockchain technology has enabled true ownership, trading, and management of in-game assets, allowing players to earn as they play. This has brought about entirely new business models and development opportunities for the traditional gaming industry. Representative projects include Axie Infinity , Enjin Coin, and more. SocialFi is a potential application direction for Web3. By utilizing blockchain technology to achieve decentralization, security, and privacy protection of social network data, it has brought users a more autonomous, secure, and transparent social experience. Additionally, SocialFi can bring fairer and more transparent business models to social networking platforms, creating a healthier social network ecosystem. AI is also being applied to Web3, for example, through machine learning and data mining to achieve more accurate user persona and recommendation services. At the same time, the decentralized nature of Web3 can provide a more secure and reliable data source for AI technologies. Thus, AI and Web3 can reinforce and enhance each other. Closing Thoughts The development and evolution of the internet are closely intertwined with our lives, introducing changes and challenges along with opportunities. As the next generation of the internet, even though the future of Web3 is not entirely clear, its unique advantages lead us to believe that it will become a pivotal component in bringing blockchain technology to the masses. It will also help construct a more intelligent, free, open, and equitable internet world for all of us. Not a Bitgetter yet? Sign up now to embark on a journey into the world of crypto!

Bitget's Ultimate Shield: Your Guide to Defeating Phishing Scams

In the thrilling world of crypto, every click matters! With crypto thieves upping their game, you need to be one step ahead. Among these threats, phishing scams are evolving, becoming more cunning by the day. It's time to arm yourself with knowledge and spot them from a mile away. Crypto Phishing101 What is a Phishing Scam? Ever clicked on a link that looked eerily like your go-to crypto exchange or wallet? Or downloaded that must-have update? You might've just stepped into a crypto trap! Phishing scams are deceptive tactics employed by cybercriminals to extract your sensitive data. Masquerading as trustworthy entities, these attackers deploy misleading emails, construct counterfeit websites, or even initiate calls and messages, all with the intent of capturing your credentials or financial details. Often, these deceptive communications contain links that redirect you to fraudulent websites, designed to mirror legitimate ones. Once you input your details, you're ensnared. Some might even prompt you to download files, secretly embedding malware onto your device. Curious about the most common scams and frauds in crypto? Check out our article and arm yourself against potential threats. Knowledge is power, and at Bitget, we've got you covered The Many Faces of Phishing Classic Email Deception - Lookalike Logos: These emails are experts at impersonation, sporting logos, fonts, and design elements resembling legitimate platforms like Bitget. - Authenticating Actions: Ever received an email warning about unauthorized access and urging you to reset your password? Such scare tactics aim to rush you into clicking without thinking. - Updates Offers: Alerts about wallet updates, staking rewards, or exclusive token sales – they have them all to lure you in. Spear Phishing Spotlight - Tailored Tidbits: This isn’t your run-of-the-mill scam. They're equipped with specifics – maybe your name, recent transactions, even friends in common. - Direct Address: They might reference a “recent chat” or an event you both “attended” – aiming to jog a false memory and seem genuine. Vishing Voice-overs - Helpdesk Hoax: They'll ring you up, presenting themselves as customer support from reputable crypto exchanges or wallet services. Using urgent language, they might suggest your assets are at risk. - Verification Ruse: These scammers might ask you to verify recent transactions or authenticate your identity, only to steal your credentials or induce a malicious transfer. Smishing Sneak Attacks - Airdrop Alerts: SMS notifications about a lucrative airdrop, urging immediate action to claim before it’s “too late”. - Security Scare: Messages implying a security breach and suggesting immediate actions, typically guiding you to a malicious link. - Wallet Warnings: Texts that seem like automatic notifications about wallet access, urging you to click on a link or download a “security” tool. With this detailed guide in hand, you're well-equipped to dissect and recognize the intricate disguises of crypto phishing scammers. Navigate with caution, always validate information sources, and ensure your crypto journey remains uninterrupted and secure. Defense Playbook: Outsmarting Phishing Scams The recent uptick in fraudulent Bitget websites and apps reinforces the importance of vigilance. As proactive members of the Bitget community, arm yourself with this defense strategy. 1. In the face of increasingly sophisticated scams, always exercise caution when dealing with unexpected communications, especially those requesting personal or financial information. Note that Bitget representatives will NEVER ask for such details. 2. Always double-check URLs and trust only the official Bitget domain: www.bitget.com. Ensure app downloads originate from Google Play, Apple Store, or our official platform. Visit Bitget Download Guideline for more information. You can also check whether the email, website address, or social media account is Bitget’s official channel by visiting our Bitget Official verification page. 3. Be wary of downloading unknown attachments, and avoid entering personal information on unfamiliar sites. Bitget anti-phishing code Last but not least, you can turn on your Bitget anti-phishing code in the ‘Security Setting’ section. Once you’ve set up your code, it’ll be included in all official Bitget emails to verify their authenticity. Bitget App tutorial: At the homepage, click on the Profile icon, choose ‘Security,’ and then head to the ‘Anti-phishing code’ section to set up your code. Bitget Website tutorial: At Bitget’s homepage, select the Security setting under the [Human] icon and set up your code in the ‘Anti-phishing code’ section. After setting up your personal anti-phishing code, you'll see it at the bottom of every email you receive in the future. Example: Any email without the exact anti-phishing code you set up should be considered phishing and is not officially from Bitget. Do not trust it. Never share this code with anyone to protect your anti-phishing code from being replicated. Victim of a Scam? Act Fast! - Immediate Action: Sign up for a new account at www.bitget.com, then immediately reach out to us at support@bitget.com. - Secure Your Assets: Transfer the assets from the compromised account to the new account as soon as possible. - Cut Ties: Stop using the compromised account and delete the phishing app as soon as possible. Always remember, the crypto community thrives on collective vigilance. If something seems off, it probably is. Stay informed, stay safe! In the battle against cyber threats, Bitget stands by its community. Stumbled upon a suspicious scheme? Reach out to us at support@bitget.com. Together, let's fortify our ecosystem and safeguard our collective assets.

Real-World Use Cases for Blockchain and Crypto: Orchestrating a Digital Symphony in Entertainment

In the previous parts, we learned how blockchain and cryptocurrencies are addressing global challenges and transforming traditional finance. Now, let's turn your attention to a sector that touches our lives daily - the entertainment industry. From music and movies to gaming and art, blockchain and cryptocurrencies are creating new opportunities for creators and consumers alike. Audius: The Beat of Decentralized Music Streaming Music, as a vibrant medium of creativity and storytelling, has always held a central role in our society. Its evolution over decades has seen numerous challenges, especially during the early 2000s and 2010s, when the process of music creation and sharing posed significant obstacles for creators and listeners alike. Fast forward to today, and we enjoy an era of unprecedented accessibility and flexibility, largely due to streaming platforms like Spotify. These platforms have not only streamlined the music experience but also scaled new heights financially, with Spotify's revenue reaching over US$12.635 billion in 2022, according to Macrotrends. Enter blockchain technology, and with it, a new player has risen to challenge the status quo – Audius. You may ask what sets Audius apart from the likes of Spotify, Apple Music, and SoundCloud. The answer lies in its innovative use of blockchain technology and its commitment to empowering artists. Founded in 2018, Audius is a decentralized music streaming service that aims to give artists more control over their music and enable them to connect directly with fans. The platform has its own crypto token, AUDIO, which powers the protocol's governance and offers exclusive features to artists and fans. Audius has experienced significant growth, with its unique user base reaching almost 6 million in July 2023. Consider investing in Audius (AUDIO)? It only takes 2 minutes to create an account on Bitget and start trading Audius! Despite facing challenges such as copyright enforcement, Audius's innovative use of blockchain technology and its commitment to empowering artists suggest that it could play a significant role in shaping the future of the music streaming industry. Decentraland: Where Gaming Meets Virtual Real Estate Nowadays, three billion people all over the world play online games like PUBG, Minecraft, and League of Legends. It's fascinating to note that a survey indicates the average gamer spends around US$58,000 on gaming over the course of their lifetime. But what if we could take that fascination a step further? What if we could actually own a piece of the gaming universe? Welcome to Decentraland, a unique blend of gaming and virtual real estate powered by blockchain technology. Decentraland was started in 2015 by Ari Meilich and Esteban Ordano. It is a decentralized virtual reality platform built on Ethereum that allows users to create, experience, and monetize content and applications. Within this virtual world, users acquire plots of land which they can navigate, construct upon, and ultimately monetize. Decentraland Virtual World Decentraland isn't simply a virtual world; it presents an entire universe of districts, each possessing its unique identity and function. These districts are as diverse as the real world, ranging from bustling commercial hubs to tranquil residential areas, interactive gaming districts, and even educational centers. One of the most significant sales in Decentraland's history was a Mega Tower that sold for over US$238,000. This sale shows that the metaverse and virtual properties are not too affected by bearish trends and overall volatility in the crypto space. As the boundaries between the physical and digital worlds continue to blur, platforms like Decentraland are leading the way in creating immersive, interactive, and profitable virtual experiences. Start trading Decentraland (MANA) on Bitget today! OpenSea: The Artistic Revolution through NFTs Defining the term 'luxury' has always been a challenging task, particularly as its core essence continually evolves. With luxury becoming more accessible than ever before, modern consumers tend to spend an average of US$43,000 on luxury collections. In the digitally-infused era, a novel form of collectible has emerged, distinctly different from conventional, tangible items. These are digital assets, known as non-fungible tokens (NFTs). NFTs have become a way for digital natives to express their individuality, showcase their tastes, and even flaunt their wealth in the online world. One platform stands out in this digital revolution: OpenSea. OpenSea, founded in 2017 by entrepreneurs Devin Finzer and Alex Atallah, is the largest NFT marketplace. It has played a pivotal role in the rise of NFTs, with a total historical trading volume of almost US$700 million in February 2023. OpenSea has not only provided a platform for the creation and trading of NFTs but has also been instrumental in bringing NFTs into the mainstream. There are over 80 million NFTs on OpenSea The platform supports a wide array of categories, including art, music, domain names, virtual world items, and more. This diversity has made OpenSea a one-stop-shop for NFT enthusiasts, from newcomers to experienced traders. OpenSea's multi-chain support for Ethereum, Polygon, Klaytn, Solana, Arbitrum, Optimism, Avalanche, BNB, and Zora, makes it a truly global marketplace. Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions. Lesson 3: Real-World Use Cases (P1) << >> Course page

From Jokes to Jackpots: A New Era of Meme Coins on Bitget

In the realm of cryptocurrencies, nothing is static; trends ebb and flow like the tides of a digital sea. After the biting frost of a crypto winter, which saw many digital currencies plunge in value, the landscape seemed barren and desolate. Yet now, as the digital world begins to thaw, an unexpected trend is making an astonishing comeback: meme coins. When Digital Humor Turned Profit These aren't your grandpa's blue-chip cryptocurrencies like Bitcoin or Ethereum. These are tokens inspired by internet culture, quirky humor, and the collective spirit of the online community. Is it like a joke, you may ask? Absolutely not. Meme coins are attracting serious investment and attention, stirring a feeling of déjà vu among long-time observers of the cryptocurrency space. Back in 2021, when Dogecoin, the first meme coin created as a joke, skyrocketed in value and became a household name, largely thanks to high-profile endorsements from the likes of Elon Musk. The Dogecoin phenomenon was a moment of peak meme coin mania, with a peak price of $0.739, representing an increase of over 20,000%. Dogecoin Price Chart Source: TradingView Now, the spark seems to come back. Over the past few weeks, crypto enthusiasts have been pouring money into meme coins. According to Dune Analytics, the trading volume of meme coins in the crypto market saw a massive increase of six times last week, reaching $2.3 billion, which is the highest it has been since May 2021. This is a significant surge from the preceding week's trading volume of $387 million. Weekly volume in meme coins Source: Dune Analytics Are you curious about which meme coins are fueling the current market frenzy on Bitget? Let’s find out. Pepe (PEPE) - The Audacious Challenger Aiming to Dethrone Dogecoin Could a frog dethrone the king of meme coin? In the realm of digital finance, where internet memes can turn into billion-dollar assets overnight, the ascent of Pepe (PEPE), an audacious newcomer, is challenging the supremacy of Dogecoin. Pepe is a meme coin launched on 17 April 2023, with the inspiration of the “Pepe the Frog” meme by Matt Furie. The creators of Pepecoin have cheekily positioned it as "the most memeable meme coin in existence" on its official Twitter feed. Unafraid of stepping on toes, Pepecoin frequently makes veiled digs at Dogecoin and even crafts its own Pepe memes featuring the frog triumphing over other meme coins. Pepe Market Cap reached $1.65 billion on May 06, 2023. Source: CoinmarketCap Its whimsical origins and approach have not hindered its growth, as it quickly climbed the ranks to be one of the top 50 cryptocurrencies being traded according to CoinMarketCap as of May 09. Since its launch, the coin has risen an impressive 7378.89% with the market cap reaching a high of $1.65 billion at one point. Consider investing in Pepe (PEPE)? It only takes 2 minutes to create an account on Bitget and start trading PEPE. Dejitaru Tsuka (TSUKA) - The Enigmatic Brainchild of SHIB's Founder Dejitaru Tsuka (TSUKA) is a truly decentralized project created by the elusive founder of SHIB, RyoshiResearch. With no whitepaper, token sale, dev wallet, or tax on transactions, this project is fully distributed and entirely run by the community. TSUKA was first listed on a major exchange in September 2022 by Bitget, and even though it is shrouded in mystery and ciphers, what it has achieved is nothing short of legendary. SHIB's founder changed his profile photo to Milarepa The beginning of Dejitaru Tsuka was cryptic, with the founder of SHIB deleting all posts on social media and changing his profile picture to a picture of the highly-regarded Tibetan figure named Milarepa. Around the same time, a token with the ticker TSUKA was launched on Ethereum, and its developer left cryptic messages on the blockchain And the community noticed it! Despite having nothing on its official website, the official Twitter has reached 30,000 followers, and the market cap went up 47,740 times, from $3,000 to $143.22 million on February 15, 2023. This exponential growth is a testament to the power of the community-driven approach. For more information on Dejitaru Tsuka, refer to Dejitaru Tsuka (TSUKA) Inspires Decentralization with Tibetan Buddhism. Consider investing in Dejitaru Tsuka (TSUKA)? It only takes 2 minutes to create an account on Bitget and start trading TSUKA. ArbDoge AI (AIDOGE) - Fusing AI and Memes for Crypto Dominance ArbDoge AI (AIDOGE)is an exciting new project within the Arbitrum ecosystem that merges AI and memes to create a unique crypto experience. The AIDOGE is the backbone of the ArbDoge AI community, and it is distributed solely to community members. This deflationary token has a supply of 210,000,000,000,000,000, and whenever you purchase AIDOGE, you'll get a Lucky Drop ticket that gives you a chance to win ARB, Arbitrum’s main token. Impressive Statistics of ArbDoge AI as of May 10, 2023 Source: ArbDoge A website ArbDoge AI is not just another meme coin! It was created by a large group of AI organisms with a passion for the Arbitrum platform. They aim to develop a product line that fuses web3 and AI, with the ultimate goal of expanding Arbitrum's functionality for the benefit of the community. AICODE is another token that the team is producing as part of their ArbCity project, which is a virtual destination for community members to spend time. Consider investing in ArbDoge AI (AIDOGE)? It only takes 2 minutes to create an account on Bitget and start trading AIDOGE. Floki Inu (FLOKI): From Meme Coin to 'The People's Crypto' In June 2021, a tweet from tech mogul Elon Musk ignited a new wave in the already turbulent seas of cryptocurrency. He announced that he would name his pet Shiba Inu "Floki," leading to the birth of the Floki Inu coin. Initially conceived as a dog-themed meme coin, much like Dogecoin, Floki Inu, now simply known as Floki, has since evolved into something far more substantial. Elon Musk's tweet made FLOKI go viral. FLOKI is an ERC-20 and BEP-20 compliant token. This dual compatibility means that it operates on both the Ethereum and Binance Smart Chain (BSC) blockchains. The multi-chain nature of the token provides flexibility, allowing users to easily perform a 1:1 FLOKI swap on the ETH-BSC bridge via atomic swaps. Floki has received recognition from NASDAQ as one of the best metaverse currencies to buy in 2022. The creators of Floki envisage it as a movement, not just a meme coin. Their vision to construct schools in underdeveloped countries is a testament to the project's commitment to social betterment. Floki's evolution, growth, and future plans serve as an example of how cryptocurrencies can create a tangible impact in the real world, far beyond the digital realms they inhabit. Consider investing in Floki Inu (FLOKI)? It only takes 2 minutes to create an account on Bitget and start trading FLOKI. Disclaimer: All investment strategies and investments are subject to the risk of loss. Nothing contained in this article should be construed as investment advice. Users are strongly advised to do their due diligence and invest at your own risk.

Automated Trading Made Easy - Bitget Auto-Invest

Think investment, but hands-off, less intimidating, and (almost) stress-free. Auto-investing is a great starting point for new investors and is even leveraged by many veterans. It is a simple and convenient way to enjoy automated trading without active portfolio management or timely responses to fluctuations. Auto-investing comes with many benefits, even the potential for achieving Einstein's 8th wonder of the world - compound interest. Many investors and influencers would recommend that you start with auto-investing in index funds, a simple but powerful strategy even once recommended by Warren Buffett himself. Now, we have brought this robust strategy to the crypto market with our latest Auto-Invest product. What's so great about Bitget's Auto-Invest? Where to begin? Our Auto-Invest offers a myriad of benefits, including: Consistency: Auto-Investing helps you stay on course with your investment strategy, even if you don't have one. Simply choose an interval, prepare your equity ( USDT) in advance, and let us do the rest. You'll never miss investment opportunities or forget to invest. Discipline: if you're new to the crypto market, you may be overwhelmed by the daily information torrent and make the majority of your investment out of FOMO. With Auto-Invest, on the other hand, emotion is taken out of the equation, and market fluctuations would have minimal effects on your decisions. Time-saving: even with all the knowledge in the world, no one (or bot) can guarantee that they always buy in at the lowest point. Instead of spending time researching investment opportunities or monitoring market trends, you can set up your Auto-Invest plan and let it do the work for you. You still can't always buy in at rock bottom but at least you won't miss out on anything when you're waiting for the 'right' moment. Interest-compounding: compound interest does magical things. Even the smallest initial investment can grow exponentially over long periods. In fact, many financial experts recommend taking advantage of the power of compound interest by investing early and often in order to maximize your returns over time. A hands-on tutorial Bitget's Auto-Invest is as easy as it sounds and as stress-free as can be. To set up your first spot auto-invest strategy, click 'Bots' from our homepage, then select 'Spot auto-invest'. Or you can simply click here to enter the Bitget's Auto-Invest page. You can either select one from our recommended portfolio or manually customize your strategy. Our recommended portfolios include some of the hottest coins and sectors, giving you a one-stop exposure to blue-chip tokens and rising challengers. To start investing in one of our recommended portfolios, click 'Use' on any of the portfolios you find interesting. You can keep everything as it is, fill in an investment amount, and click 'Create' to deploy your first automated trading strategy. If you know what you're doing, you can fine-tune each parameter or even formulate your strategy from scratch. To construct your own strategy, you must first add coins you plan to purchase. You can invest up to 10 cryptocurrencies with one strategy. Each cryptocurrency can be allocated with its unique weight, or you can simply spread them equally. Do your own research before selecting assets because your strategy will stop functioning in case of delisting or other unexpected events. Then, choose an interval. It can be as frequent as every hour or as separated as every year. This time is the local time of the location of the device you create this strategy on. All assets will be bought at the marke t price at the time of your choosing. Your strategy can either start right now (today) or at the next trigger. Lastly, decide on a size, that is, the total amount of equity (USDT, for the time being) you wish to invest in. It doesn't have to be big but do remember to keep enough balance in your spot account, or your strategy may come to an unexpected halt. You can change this number later, even when the strategy is active. One more thing, tick the box if you would like the strategy to become inactive once your spot account balance could not cover the investment. No sweat, however, because you can reactivate your strategies at any time in the future. Now, you can click on 'Create' and deploy your first Auto-Invest strategy!

Explained: What is Algorand (ALGO) and How Does It Work?

This article will explain what ALGO does and why you should be aware of the project! What is Algorand (ALGO)? A secure and scalable foundation for decentralized apps and digital assets is what Algorand (ALGO), a decentralized, open-source blockchain platform, wants to offer. Algorand is a relatively new cryptocurrency that is becoming more and more popular among newbie investors, developers, and crypto enthusiasts. What are its key features? One of the key features of Algorand is its unique consensus mechanism, called Pure Proof-of-stake (PPoS). PPoS is a consensus algorithm that allows for fast and secure transactions while also maintaining decentralization. Unlike traditional proof-of-work (PoW) consensus mechanisms, PPoS does not rely on miners to validate transactions. Instead, it uses a group of randomly selected validators, called "block proposers," to validate transactions and add them to the blockchain. This helps to ensure that the network is secure and decentralized, while also providing fast confirmation times and low transaction fees. Another important feature of Algorand is its use of a new data structure called a "multi-signature." Multi-signatures allow for transactions to be signed by multiple parties, which can help to increase security and reduce the risk of fraud. Additionally, Algorand uses a unique cryptography called the "Algorand Signature Scheme" (ASA), which provides a higher level of security than traditional digital signatures. Algorand also has a built-in mechanism for managing digital assets, called the Algorand Standard Asset (ASA). ASA allows for the creation of digital assets on the Algorand blockchain, which can be used for a variety of purposes, including supply chain management, digital identity, and digital voting. Additionally, Algorand also allows for the creation of smart contracts, which can automate and streamline processes and enable decentralized finance (DeFi) applications. The Algorand blockchain is also highly scalable; it can handle thousands of transactions per second, which is far more than traditional blockchain platforms. Additionally, its PPoS consensus mechanism ensures that the network is secure and decentralized while also providing fast confirmation times and low transaction fees. The use of multi-signature documents also helps to increase security and reduce the risk of fraud. One of the benefits of Algorand is that it's accessible and easy to use for beginners. Algorand's user-friendly interface and its compatibility with a wide range of programming languages make it easy for developers to build decentralized applications (dApps) on the platform. Additionally, Algorand has a growing community of developers, users, and enthusiasts who are constantly working to improve the network and find new ways to use the technology. What makes ALGO a popular choice for investment? Many investors are watching the development and roadmap closely. largely because Algorand has a wide range of use cases that are being developed and implemented by various organizations and businesses. One of the most popular use cases is in the field of decentralized finance (DeFi). Algorand's fast transaction speeds and low fees make it an ideal platform for building DeFi applications such as lending and borrowing platforms, stablecoins, and decentralized exchanges. Additionally, Algorand's smart contract functionality allows for the automation of financial transactions and the creation of digital assets, making it a perfect choice for supply chain management, digital identity and digital voting. Algorand's unique consensus mechanism also enables the creation of privacy-preserving applications and the secure management of digital assets. It also has a lot of potential in the micropayments and gaming industries, due to its fast and low-cost transactions. Overall, Algorand's scalability, security, and decentralization, along with its smart contract functionality and digital asset management capabilities, make it a versatile platform with a wide range of use cases. Algorand's compatibility is another motivation to invest in it. Simply put, this means that anything created on the Algorand platform can readily connect to other blockchains. Because it is essential to the development and widespread usage of blockchain technology, interoperability is a huge concern. That's because businesses can only have a reason to invest in the technology if blockchains effortlessly link with one another. One needs to go to the internet for context regarding the significance of interoperability. The fact that the internet has built-in interoperability is the primary factor in its growth to where it is today. For this reason, one can send emails through email services provided by many businesses. Similar to this, for the blockchain to expand, decentralized applications built on Ethereum must be able to readily communicate with those built on Cardano, Solana, and other similar platforms. This is a major consideration in the development of Algorand. This is due to the fact that it encourages financiers to support initiatives that aim to construct on Algorand. Algorand's interoperability has so far worked in its favor, as evidenced by the exponential growth in projects relying on it since its release. Monerium is an illustration of a high-potential project developed on top of the Algorand protocol. This Dapp makes it possible to transmit euros right away without going through a bank. From the standpoint of investors, this is significant given the abundance of other intriguing initiatives on Algorand. This is due to the fact that Algorand's value increases when these projects' respective values and numbers rise. Ready to put your crypto knowledge to work? Join us! Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

What Is the Crypto Fear and Greed Index?

The Crypto Fear and Greed Index is created to measure the greed and fear level of investors in the market. In this article, let’s find out more detail about it and the reasons why many traders prefer to use this index to help them find the right time to enter and exit the market. Understanding the Crypto Fear and Greed Indicator Have you ever considered the possibility that, despite making a sound investment plan, it might still be destroyed in a matter of seconds by a market participant's panic or greed? The "Fear of Missing Out" (FOMO), for instance, as public and private organizations and corporations devote their attention to Bitcoin, is one stimulus that can cause these market attitudes. Due to their fear that the price would increase above its current level as a result of this, the majority of investors may flood the market with purchase orders, ultimately pushing the price up. When a group of investors start to panic and sell their assets alongside the bad news that emerged during the price decrease, the worry of becoming stuck at such a high price also creates a change in investors' emotions. How can investor sentiment be measured when it directly influences an asset's price behavior? Investors worry about keeping assets when there is a crisis that results in selling pressure on the markets, similar to the stock market. At that point, analysts choose an index to examine to gauge the level of investor fright on the US stock market. What we covered above is the Volatility Index, sometimes known as the VIX Index. It leverages the derivatives market's trade volume to construct an index. The VIX will fluctuate in accordance with market sentiment and high net worth and institutional investors' investment plans. The Crypto Fear and Greed Indicator is a comparable index that may be used to assess investor attitudes in the cryptocurrency market. How to Use the Crypto Fear and Greed Index? Source: Cointelegraph The bitcoin market may occasionally be unpredictable, as you probably already know. Investors' emotional reactions to the market have contributed to some of this. People may get avaricious and experience FOMO (Fear Of Missing Out) when the market is rising. They could also feel fear and sell their coins when the market is plummeting. Many traders use the index as a market indicator, a tool that supplies them with market data so they may trade more wisely. By examining the emotions and broader moods impacting the market, many traders have outperformed it. Scaling from 0 to 100, 0 represents severe fear, and 100 represents extreme greed. The index's creators suggest utilizing it to facilitate trade in the following ways: 1. Because investors are too anxious, intense anxiety may present a purchasing opportunity. 2. Extreme greed may indicate that investors are acting unreasonably greedy and that a market correction is overdue. How is the Crypto Fear and Greed Index Calculated? The Alternative uses a variety of data sources to compute the index, including volatility, market momentum/volume, social media, dominance, and trends. Additionally, although the signals are focused on bitcoin, other significant cryptocurrencies may soon be included in the index. The five important indicators are examined in further detail below: 1. Volatility - A surge in volatility is taken as an indication that the market is scared. 2. Market momentum/volume - The current volume is contrasted with the market momentum. When buying volumes exceed longer-term momentum, it indicates that the market is becoming overly greedy. 3. Social media - An extremely high engagement rate is used to spot greedy market behavior using a Twitter sentiment analysis tool. 4. Dominance - A rise in bitcoin dominance is perceived as a symptom of a nervous market migrating to a safer asset, whilst a decline in bitcoin dominance is seen as a sign of a greedy market moving to more speculative altcoins. 5. Trends - Information from Google Trends is utilized to determine the volume of internet users looking for information on bitcoin. A rise in certain search phrases, such as " bitcoin price manipulation," is regarded as a worrying sign, but "bitcoin price forecast" would be more bullish. What the Crypto Fear and Greed Index Doesn’t Do? The Fear and Greed Index is informative, but it doesn't provide information to investors about when to buy or sell, and it doesn't purport to make any accurate forecasts about the future. Therefore, prices may increase further and remain there even if the market is experiencing tremendous greed. In a similar vein, prices could drop much more and stay low for an unforeseen amount of time if the market is experiencing significant panic. Overall, while choosing when to buy cryptocurrency, investors should take into account several fundamental analysis (F/A) measures in addition to the Crypto Fear and Greed Index. Some long-term investors have historically preferred to dollar cost average (DCA), buying equal or almost equal amounts of cryptocurrency at regular intervals over lengthy periods, regardless of whether the market is afraid or greedy. The Fear and Greed Index is also useful for swing and day traders, but it should only be used in conjunction with several other technical analysis (T/A) tools and metrics. For instance, a day trader may find it more advantageous to take tiny short positions when the market is afraid and daily falls are frequent, whereas they may find it more advantageous to take large long positions when the market is greedy. Investing in cryptocurrencies is risky no matter the strategy, and traders and investors alike should always be ready to lose their entire investment. Related articles: A Guide to Cryptocurrency Fundamental Analysis Trading 101: Technical Analysis Explained What Is Dollar-Cost Averaging? Is it a short-term or long-term indicator? The historical chart demonstrates that the longer-term bull runs and the Crypto Fear and Greed Indicator do not closely connect. Instead, it reacts to recent events and brief variations in the price of cryptocurrencies. Due to these variables, traders prefer it as a short-term indicator over a long-term one. Trading enthusiasts particularly enjoy it, as one might expect. Conclusion For cryptocurrency traders, investors, and market watchers, the Crypto Greed and Fear Index is a great benchmark. It does, however, have some drawbacks, such as its narrow focus on Bitcoin at the expense of other crypto assets like ETH and stablecoins. The index's tracking and data-calculating methods are also not entirely transparent, especially when it comes to its study of social media and trends. Additionally, it does not disclose the precise formulae it employs to estimate volatility, volume, and market momentum. For people attempting to use the index practically, all of this information would be very helpful. As was already noted, the index should only be one of several data points used to track the cryptocurrency market and should not be significantly depended upon to make investment or trading decisions, despite the fact that it is helpful in doing so. Want more insights like this? Follow us and turn on the notification now: Twitter | Telegram | LinkedIn | Facebook | Instagram Disclaimer: This article is for educational purposes only and is not intended as investment advice. Qualified professionals should be consulted prior to making financial decisions.

Grid Trading 101: A Step by Step Guide

Grid Trading is a strategic tool that automates the buying and selling of crypto at preset intervals around a prese t price range to construct trading grids. Grid trading tends to work best in volatile markets when price fluctuates at specific intervals. In this way, grid trading attempts to make profits on small price changes. Grid trading can help trade rationally as in practice, grid trading bots will execute a series of buy/sell orders on a preset interval within an oscillating price range to buy low and sell high. As this happens automatically and based on preset parameters, it allows a trader to take out the emotional part of trading and therefore avoid unnecessary losses by decision-making attempts led by FOMO (Fear of Missing Out), FUD (Fear, Uncertainty, Doubt), Greed, and Hope. How does Grid trading work? Navigate over the Strategic Trading section and select what instrument you wish to set up your grid trading strategy. Then, select your preferred trading pair. Create your grid trading strategy in the trading portal on the right. AI StrategyBased on the backtest data of the trading pair, the AI strategy would recommend the most suitable parameters for the current market. By utilizing this strategy, your only concern would be the amount of capital you would like to deploy.Manual CreationThis setting allows you to have full control on the way you would like to set up your bot. This requires more knowledge about the market and a solid understanding of its parameters. In order to not get overwhelmed Bitget has subdivided the parameters in Basic settings and Advanced settings. Basic Settings - Lowest Price: The lowest price on which the grid will execute orders. When the market price falls below, orders will no longer be executed and the strategy will be suspended until price returns back in the grid. - Highest Price: The highest price on which the grid will execute orders. When the market price falls below, orders will no longer be executed and the strategy will be suspended until price returns back in the grid. - Number of grids: The amount of levels on which price will execute orders - Coins: You can choose which asset of your holding you want to use for the strategy - Amount: The available balance in your account, and how balance you wish to use for the strategy. Advanced settings Clicking on advanced settings, will expand the menu with a few additional options. - Trigger price: The grid strategy including its orders will be triggered when the last traded price reaches the trigger price you inserted. - Take profit price: When the last traded market price reaches the Take Profit price, the grid will stop working, and closes any remaining open positions. - Stop loss price: When the last traded market price reaches the stop loss price, the grid will stop working, and closes any remaining open positions. - Grid order mode: Arithmetic order mode creates grid orders based on price levels, meaning that each grid has an equal price difference, whereas geometric order mode is based on ratios calculated in percentages. Depending on the market conditions either one of these modes can give an extra edge. - Initial price limit: This parameter is used to avoid major slippage when the market is trading in an illiquid region. Due to the volatility in the crypto market, the executed price may be different from your expected price when the order was placed. Checking your Grid performance After creating the grid, you can keep track of your strategy by looking at your Order information as well as have an insight in your previously executed grid strategies. Note: Terminate, means to terminate the grid strategy, but not necessarily close your current open positions. In order to do this, make sure to select “the whether to sell on termination” box to do so. This is recommended, as otherwise, you must manually close your spot positions through the spot portal. Simply create an account, and start exploring the incredible Bitget-Verse today! Disclaimer: Grid Trading is a trading tool that should not be regarded as financial or investment advice from Bitget. The Grid Trading profit is susceptible to a one-sided market and misplaced price intervals. You may adjust your Grid Trading strategy based on market conditions. Grid Trading is used at your discretion and at your own risk. Bitget will not be liable for any loss that might arise from your use of this feature. Users are advised to make rational decisions by thoroughly assessing their own risk tolerance after reading through the Grid Trading guideline.

Grid Trading Introduction

What is Grid Trading? Grid Trading is a strategic tool that automates the buying and selling of crypto at preset intervals around a prese t price range to construct trading grids. Grid trading tends to work best in volatile markets when price fluctuates at specific intervals.In this way, grid trading attempts to make profits on small price changes. Grid trading can help trade rationally as in practice, grid trading bots will execute a series of buy/sell orders on a preset interval within an oscillating price range to buy low and sell high. As this happens automatically and based on preset parameters, it allows a trader to take out the emotional part of trading and therefore avoid unnecessary losses by decision making attempts led by FOMO (Fear of Missing Out), FUD (Fear, Uncertainty, Doubt), Greed, and Hope. How does Grid trading work? Through using the bot, you can set a series of buy and sell orders in either price direction, and with this a trading grid of orders will be placed waiting to be triggered. When the price drops to your preset target, a buy order will be executed, and a sell order will be placed above on the next grid. When the price then rises again to the next grid, the sell order will be executed, and a profit will be realized from the price difference. Let's look at an example of Jane who likes to trade BTC/USDT on Spot, and has identified a trading range through technical analysis with a resistance level at 30.000 USDT, and a support level at 20.000 USDT, in which BTC has been trading. Jane wishes to use a Grid to be able to profit from within the range, and identifies a few areas of interest in which she wants to create a grid. Therefore she sets up her grid as follows: Market Price: 26.000 USDT Upper price: 30.000 USDT Lower Price: 20.000 USDT Number of grids: 5 Total investment: 10.000 The system will now calculate where the orders must be placed, and what the size of the buy/sell order will be. In this scenario it means the following: 30.000 USDT: Sell 27.500 USDT: Sell 26.000 USDT: Market price (no orders will be placed) 25.000 USDT: Buy 22.500 USDT: Buy 20.000 USDT: Buy Outcome 1: If the price now hits 25.000 USDT, the buy order will be executed, and the sell order will be placed in the next grid. When the price rises to 27.500 USDT, the sell order will be executed, and a new buy order will be created at 25.000 USDT again. Now a grid trade has been completed and profits have been made from the price difference. Outcome 2: When the price rises to 27.500 USDT, no buy/sell orders will be triggered, as there is simply no current position open. When price rises to 30.000 USDT however, a sell order will be placed at 30.000 USDT, and a buy order at 27.500, which will now effectively put the grid in motion. What if price trades outside of the boundaries I have set. The grid bot will only operate in the upper and lower price bounds that have been configured. When the BTC price rises above 30.000 USDT or falls below 20.000 USDT, the strategy will be suspended and no new orders will be placed by the Grid Bot. Should this happen, you can either choose to close the grid trading strategy, or wait for the price to return to the range you have set, at which time the strategy will resume. Note: Once the strategy has been suspended, this does not mean your positions will close automatically. In order for this to happen, you must tick the box to close the position upon termination of your strategy. Disclaimer: The information provided above is not financial advice but for educational and entertainment purposes. Please do your own due diligence or consult a financial advisor before investing in any digital assets. All opinions expressed on Bitget’s Soapbox (also known as the ‘Soapbox’) are opinions of individual traders using the Bitget platform, and do not reflect the opinions of Bitget or its affiliate companies and partners. The Soapbox author’s opinions are based upon information they confirm to be reliable, but neither Bitget nor its affiliates warrant its complete accuracy, and it should not be relied upon as such.