It’s 2022 and the crypto market is bigger than ever. The internet is filled with people making their living trading crypto and even more securing their financial future by doing so. While it’s true that projects like Bitcoin will probably never see prices in the single thousand again, there are still lots of opportunities available. Here’s why it’s not too late to join the crypto revolution in 2022.
DeFi Changed the Game
The introduction of DeFi (decentralized finance) services to the market has changed everything. DeFi is a term used to describe the removal of centralized organizations from financial systems. These networks eliminate these groups and instead, they split the profits with other members of the community.
DeFi is one of the fastest-growing crypto sectors. There are many reasons for this growth. These networks provide open access privately to low-risk passive income streams. These systems are an excellent way to secure ROIs without having to relinquish ownership of your digital assets.
An Open Economy
Another reason why you need to consider DeFi as your next move is the open nature of these projects. DeFI protocols are designed to be more inclusive than traditional financial services. For example, to join most DeFi protocols, you simply connect a network’s wallet.
The elimination of gatekeeper costs makes DeFi more efficient. Also, it’s vital to point out that removing the gatekeepers helps to lower the level of discrimination and fraud involved in the market. DeFi protocols operate as pure code with no human intervention required to operate.
Along the same lines of thought, there has been a steady increase in demand for an alternative global financial system. The current system is run by a small group of countries that has complete control. Countries that have found their interests, not in line with this group have had their country attacked with sanctions and other forms of economic warfare.
Sanctions in particular target the citizens of a country to make their lives so miserable that it creates unrest. When you combine this situation with rising inflation and hyperinflation brought on by sanctions, it’s easy to see why entire countries are now interested in integrating cryptocurrencies into their economy.
Unbanked Populations Need DeFi
There are many regions in the world where the average person cant access basic financial services. There are a lot of reasons why this scenario could occur. In any instance, there is a lack of infrastructure. Certain paperwork requirements can be nearly impossible for refugees and people from developed countries to produce.
All of these roadblocks have left +3 billion people around the world unbanked. The DeFi revolution empowers these users in multiple ways. For one, it’s much easier to access a smartphone and the internet versus laying down streets and infrastructure to support a bank. For these areas, DeFi is a preferable alternative that can be instituted much faster.
Low-Risk Passive Income
DeFi Staking and Farming are two perfect examples of these systems at work. Both of these features require users to lock up tokens in a network smart contract. The more tokens you stake, the higher your rewards payout. The good thing about staking is it doesn’t require a lot of skill and it produces consistent results. Platforms like META 1 and Ethereum offer staking options that payout rewards in tokens that can be added to the original stake to generate more revenue in the next round.
Farming differs from staking in that it doesn’t have preset lockup periods. As such, it has a varying APY which means the best farmers will monitor pools and switch their tokens based on the rates. Like staking, you receive your original asset back. Both staking and farming help to drive token prices up because they remove tokens from circulation when they are in pools.
High Yield Savings Accounts Win
Another DeFi feature that is worth mentioning is high-yield savings accounts. These systems are built to replicate a normal bank account. They are popular because they don’t require any technical skills. As such, they are preferable to staking and farming protocols for many people. Best of all, you simply connect a wallet to leverage these services.
One of the most popular DeFi high Yield savings account options is the META VAULT. You can secure 10% APY when you open an account and deposit META 1 Coins. The system is set up to pay out rewards in the same account which enables you to enjoy compounding returns. These returns are improved by META 1’s self-appreciating characteristics making it the ideal asset for savers.
You Can Spend Your Crypto Just like Cash
Since the earliest days of the crypto market, there has always been a desire to figure out how to improve the dependability f digital assets. As it stands now, there are a lot of fo workarounds in use but in most instances, vendors aren’t accepting crypto directly.
One of the most popular ways of integrating crypto is by providing vendors with a PoS upgrade. The new system enables them to accept crypto and even select if they want to receive the payment in crypto or cash. The list of crypto payment processors continues to expand.
This approach has proven to be effective but slow. A better alternative emerged with the introduction of crypto debit cards. This advanced protocol enables users to leverage the VISA network to pay for goods and services using your META 1 Coins. The system works anywhere that accepts VISA because it’s set up to pay the vendor in cash. As such, they don’t need to make any changes to accept your payment.
In this sense, the system automatically sells the corresponding amount of crypto and sends it to the merchant. The process takes the same time as a normal VISA transaction this approach is better for all parties and has helped to drive crypto adoption to new heights.
Another popular DeFi service that continues to see more adoption is peer-to-peer lending protocols. These systems enable users to lend out their crypto to other users with interest. These systems employ large lending pools and collateralization/liquidation mechanisms to provide lenders with more security.
Notably, there are a lot of different types of lending protocols available. Some enable the borrower to pick their terms while others have lending marketplaces that buyers select from. This strategy is better than going to the bank and awaiting approval from a loan officer who can deny your claim at a whim.
P2P lending protocols operate as pure code with no human emotion. You only need to meet the collateralization requirements to access funding. Notably, you receive funds much faster than traditional lending services as well. All of these benefits have helped the P2p lending sector expand.
DAOs (decentralized autonomous organizations) are a crucial component of the DeFi space. These protocols remove the personnel from community management and replace them with smart contracts. These system leverage voting protocols to enable regular users to dictate the direction of their projects.
DAOs change the game because they provide the market with an efficient way to take comprehensive community input responsively. In the past, it would be nearly impossible to monitor large data sets in real-time. Blockchain technology introduces consensus as the solution to this problem. The decentralized nature of these systems allows for near real-time voting capabilities.
These unique governance systems are helping DeFI expand harmoniously. They empower users to take a more active role in their DeFI projects. Notably, most community governance systems require users to stake their tokens to participate. Users can vote on vital upgrades, fee changes, protocol upgrades, and much more.
NFTs (non-fungible tokens) continues to make headlines for their sky-rocketing value. While it may seem like NFTs are mysterious, they are simply individually recognizable blockchain assets. Notably, because NFTs can be verified on the blockchain in seconds using any explorer, they are ideal for industries where authenticity is vital.
The art sector is one of the industries that have embraced this technology. Some artists sold their NFTs for millions. These developments, coupled with positive news coverage, have driven demand for these services up. Today multiple platforms and marketplaces simplify NFT usage and provide you with NFT engines that simplify the process of making these tokens.
NFTs have also led to an explosion in the GameFi sector. GameFi is a term used to describe the melding of gaming and finance. These markets continue to meld as the play-to-earn sector is just getting started. Play-to-earn games differ from regular titles in that they provide users with assets that hold real-world value. The introduction of blockchain technology has accelerated this tech further.
Today’s play-to-earn games provide users with real ownership over their digital assets. They can take these tokens, which are usually in the form of gaming NFTs, and convert them to other digital assets such as Ethereum. There are even games that enable users to earn Bitcoin directly such as the first-person shooter License. To accomplish the task, Litenite integrates the Lightning Network which reduces Bitcoin transaction fees significantly and improves responsiveness which is vital in a gaming environment.
The news would make it seem like the Metaverse is some magical wonderland or some nightmarish utopia depending on the channel you watch. However, the truth is a metaverse is simply an immersive 3D environment that allows users to build their 3D environments within it. Metaverses are becoming more popular as protocols like Decentraland combine the benefits of blockchain technology with a large customizable virtual landscape.
Another major development that proves it’s not too late to get in on the crypto rush is the introduction of safehaven coins. Safehaven tokens are like stablecoins in that they are pegged to some underlying asset. However, they take things a step further with the introduction of proprietary smart contracts to protect the community.
META 1 Coin
The META 1 Coin is the first safehaven token to gain popularity in the market. This token proves stability through a unique structure. Specifically, META 1 leverages a basket of gold-related assets which provides the token with self-appreciation. Gold can’t be printed and is not controlled by any nation in particular. As such, it is immune to bad monetary policies. In most cases, gold will experience a boom in demand during times of market uncertainty.
Retain Asset Value During Volatility
The META 1 coin has two very specific smart contracts that protect the token from market manipulation. The first system monitors the asset value of the token and ensures that no META 1 coins are sold for less than this value. Also, the system integrates smart contracts to help protect the community from centralization. Banks, trading firms, and governments are all banned from the META 1 Coin community.
Creating a Community for the People
The second requires all META 1 token holders to prove they are human beings and not a corporation, government, or trading firm. This second protocol reduces the presence of harmful whales which causes centralization.
Check Your Clock – It’s the Perfect Tim to Get Involved
If you thought you were too late to get in on the crypto revolution, you were wrong. You can now see that this technology is just getting started. Today, there are thousands of projects improving the efficiency and transparency of industries. Projects like META 1 help users to secure a financial future and avoid common pitfalls such as inflation caused by bad monetary policies. You can expect to see even more innovative protocols enter service in the coming months as more institutional funds enter the market. The main thing to remember is that the market is still in its infantile stages. Countries like El Salvador, which made Bitcoin legal tender, continue to demonstrate how these assets can play a vital role in the global economy. Get in now and prosper.