Tag: Off The Ledger

What You Need to Know About Gas Fees

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What is gas? Gas is a transaction fee paid by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain. There are two main components: Gas Price and Gas Limit. Gas Price – The price per unit of gas is denoted in small fractions of the cryptocurrency Ethereum, called GWEI. GWEI is equivalent to ETH in the way that a penny is equivalent to the dollar; it is the smallest denomination of the currency.  Gas Limit – Gas limit refers to the maximum…

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Non-Fungible Tokens (NFTs): All You Need to Know

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NFTs are assets minted onto the blockchain that are unique. In contrast to fungible assets, like global currencies that are mutually interchangeable, non-fungible tokens cannot be traded for something of “equal value,” as their value is dependent on market demand. Think, collectibles: whereas to some, they may seem worth next-to-nothing, to others, they can be highly sought-after products.

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The Rise of Crypto Spenders: How Businesses Can Attract New Customers in 2021

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HODL on: a guiding principle for crypto-enthusiasts “Hold on for dear life,” or HODL, has been a mantra in the cryptocurrency community since 2013. The phrase is typically used to support an approach whereby cryptocurrency holders are deterred from trading or selling their coins, to rather preserve their holdings in anticipation of rising prices as adoption increases. The term is believed to have originated as a typo, yet HODL has evolved to symbolize an influential movement that has picked up pace in recent years.  “HODL, however, is not a simple…

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International Women’s Day Special: How and Why the Crypto World is Embracing More Women

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International Women’s Day, March 8, is a global day celebrating the social, economic, cultural, and political achievements of women. The Women’s Day 2021 campaign theme is #ChooseToChallenge, with the mission to help create a more inclusive world.

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Merchants & Swipe Fees: How Accepting Crypto Can Help Businesses Save More

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Merchants had to adapt quickly, as shopping online became (virtually) the only way to shop. However, now, as lockdown restrictions are slowly lifting and business owners gear up for a return to semi-normalcy, there’s a new obstacle that needs to be overcome: hiking swipe fees.  Swipe fees add up: a burgeoning cost for merchants This upcoming April, major card processors like Visa and Mastercard plan to raise interchange fees for merchants – also known as swipe fees. For every transaction, merchants are required to pay interchange fees to card-issuing banks.…

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Silver Short Squeeze? How Technology, Blockchain Revives Precious Metals Markets

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CoinPayments Silver's Short Squeeze

Precious metals veteran David Morgan comments On February 1st, as the trading session opened for the week, the price of silver rose to an eight-year high above $30 an ounce. In the weekend preceding the price action, David Morgan, publisher of the Morgan Report, told his Twitter followers that silver dealers were experiencing demand like never before.  The precious metals aficionado has decades of industry experience and has seen it all: from silver’s highest price near $48 an ounce, to its most dramatic bear market ever. We spoke with him…

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Dogecoin: Understanding Cryptocurrency That Was Started As A Joke

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CoinPayments - Understand Cryptocurrency That Started As A Joke

Palmer’s Twitter account has since been deleted and Markus is no longer affiliated with the project. Still, the movement has gained traction since its inception over seven years ago. In the late hours on the eve of February, #dogecoinarmy climbed to the number-one trending hashtag on Twitter in the United States. We’re here to break down the dogecoin frenzy, tracing it back to its roots, and tracking notable developments since its early origins. Doge: Yes, like the meme Self-proclaimed “the internet currency,” dogecoin, pronounced dohj-koyn, was dubbed after the meme…

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Is the U.S. Treasury warming up to Blockchain, Stablecoins for Bank Payments?

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As a result, 2021 is shaping up to be the year we witness governments and financial institutions discard their resistance to changing the status quo and instead commit to the digital evolution of payments.  However, for there to be widespread acceptance of novice currencies, we must overcome the primary hurdle of convincing people that they are more secure than most think. This is where blockchain technology steps in to provide skeptics with more reassurance.  Digital coins have provided investors with opportunities of generating exponential returns as well as alternative investment…

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The Digital Dollar Project: What You Need to Know

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The first nationwide CBDC was issued in the Bahamas late last year: the sand dollar is a digital version of the Bahamanian dollar, the first virtual currency of its kind. However, the Bahamas is by no means a pioneer of the concept. The People’s Bank of China has been exploring the advancement of its own digital currency for almost a decade and is expected to launch its digital yuan in the next two years. The European Central Bank has also been investigating potential avenues for the distribution of a digital…

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