Earnity’s Dan Schatt and Domenic Carosa and Expound UX’s Role

Freedom Channel

In December 2021, Earnity raised more than $20 million, with $15 million from the stock offerings it closed with Bitcoin mining firm BitNile. The company’s goal is to develop and launch an online platform that will enable users to learn about crypto while earning and collecting tokens. Under the leadership of executives Dan Schatt and Domenic Carosa, Earnity looks to solve the hindrances holding back mass crypto adoption rates. One way to promote cryptocurrency, especially to new users, is through seamless user experience (UX).

There was a time when crypto was only for the most tech-savvy internet users. However, as the digital currency’s popularity booms, so does its target market. In fact, in late 2021, it was reported that more than 100 million people worldwide had already bought in some form of cryptocurrency. So, the days that blockchain trading services were focused on backend engineering and cryptography are gone. Instead, developers should give the UX part more attention and effort.

Because not all crypto traders and buyers have enough experience with the financial system, some, if not most, of them hope to be guided and helped when completing crypto transactions. Blockchain services providers and crypto-based applications should educate the mass users and deliver a smooth and frictionless experience.

UX can also reduce the learning curve that comes with understanding and using the many decentralized finances (DeFi) and crypto protocols and products. Concepts like crypto accounts, private and public keys, block height, and others can be challenging to comprehend, especially for new users. More users will likely get on board the crypto train by designing the platform to be customer-centric, easily navigable, and intuitive.

Earnity looks to help demystify users’ crypto journey. Dan Schatt and Domenic Carosa understand that users, especially newcomers, have to bear the heavy load of understanding all of the value propositions and reasons behind the existence of different kinds of crypto. The Earnity team intends to address the massive crypto access bottleneck by creating an easy-to-use, highly secure, social-first, and user-driven platform.

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Earnity’s Dan Schatt and Domenic Carosa on Crypto’s Rising Popularity

Money

As a company led by fintech veterans Dan Schatt and Domenic Carosa, Earnity believes that crypto and decentralized finance will play an enormous role in making access possible for all. While crypto has gone from super niche to mainstream fringe in a little more than a decade, there is still a lot of work to be done to make crypto simple, safe, and enjoyable to use.

Cryptocurrencies have been around for quite some time now, but they have only recently become popular. Bitcoin is the most popular among the cryptocurrency ranks, but many others are gaining traction. Below are some of the most popular cryptocurrencies.

The Rise of Crypto

Bitcoin is the original cryptocurrency and is still the most popular. This crypto was created in 2009 and is used for all sorts of online transactions.

Ethereum is a newer cryptocurrency created in 2015. It is like Bitcoin but still has marked differences. Ethereum is used to build decentralized applications, which run on a network of computers instead of one central server.

Litecoin is another popular cryptocurrency created in 2011. It has similarities with Bitcoin but differs in several ways. Litecoin, for example, is used for smaller transactions because it has  lower transaction costs than Bitcoin.

Bitcoin Cash is among the newer cryptocurrencies. Created in 2017, Bitcoin Cash is a fork of Bitcoin and is used for larger transactions.

Ripple is another cryptocurrency gaining popularity recently. Created in 2012, Ripple is used for small and large transactions. It is faster and cheaper than Bitcoin.

As Dan Schatt and Domenic Carosa point out, there are many other cryptocurrencies whose popularity has risen impressively over the past few years. And with the crypto market expected to grow even further in the future, it is vital to stay up-to-date on all the latest developments, which platforms such as Earnity are designed for.

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How To Invest In Cryptocurrency – Kavan Choksi

Money

Cryptocurrency is a digital or virtual currency that uses cryptography to secure its transactions and control new units. Cryptocurrency is a decentralized currency, meaning that it is not subject to government or financial institution control Kavan Choksi.

What is Cryptocurrency?

Cryptocurrency is a digital or virtual currency that uses cryptography to secure its transactions and control new units. Cryptocurrency is a decentralized currency, meaning that it is not subject to government or financial institution control.

What is the history of Cryptocurrency?

The first Cryptocurrency, Bitcoin, was created in 2009 by a pseudonymous person or group of people known as Satoshi Nakamoto. Litecoin followed Bitcoin in 2011, Namecoin in 2011, Peercoin in 2012, and Primecoin in 2013. Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services. There are a few ways to invest in Cryptocurrency. You can buy cryptocurrencies on decentralized exchanges, you can purchase goods and services with cryptocurrencies, or you can mine cryptocurrencies.

How Does Cryptocurrency Work?

Cryptocurrency transactions are secured by cryptography. Cryptocurrency units are created by a process called mining. Miners are rewarded with cryptocurrency units for verifying and committing transactions to the blockchain.

What are the Advantages of Cryptocurrency?

The advantages of Cryptocurrency include:

– Decentralization: Cryptocurrency is not subject to government or financial institution control.

– Security: Cryptocurrency transactions are secured by cryptography.

– Anonymity: Cryptocurrency units are created by a process called mining. Miners are rewarded with cryptocurrency units for verifying and committing transactions to the blockchain. This process is anonymous, meaning that the names of the miners are not revealed.

– Fractional Reserve Banking: Cryptocurrency does not rely on fractional reserve banking.

– Low Fees: Cryptocurrency transactions are typically much cheaper than traditional currency transactions.

What are the risks of investing in Cryptocurrency?

The risks of investing in Cryptocurrency include:

– Volatility: The value of Cryptocurrency can be extremely volatile.

– Lack of Regulation: Cryptocurrency is not currently regulated by any government or financial institution. This could lead to fraud and scamming.

– Lack of Liquidity: The liquidity of Cryptocurrency is relatively low compared to traditional currency. This could lead to difficulty in exchanging Cryptocurrency for traditional currency.

– Fraud: There have been a number of cases of fraud involving cryptocurrencies.

How to Invest in Cryptocurrency?

There are a few different ways that you can invest in Cryptocurrency:

– Buy Cryptocurrency: You can buy Cryptocurrency directly from exchanges or through a broker.

Use a Cryptocurrency Wallet: A cryptocurrency wallet is a software program that stores your cryptocurrency units’ public and private keys.

– Mine Cryptocurrency: Miners are people who use a computer to generate Cryptocurrency

– Invest in a Cryptocurrency Fund: You can also invest in a cryptocurrency fund, which will pool your money with other investors and invest in various cryptocurrencies.

What are the most popular Cryptocurrencies?

The most popular cryptocurrencies are Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Conclusion

Cryptocurrency is a digital or virtual currency that uses cryptography to secure its transactions and control new units. Cryptocurrency is a decentralized currency, meaning that it is not subject to government or financial institution control. As a result, it is a new investment opportunity with some risks and can be a highly lucrative investment.

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Crypto Regulation Around the World

Finance

Regulation around cryptocurrency is still very unclear and governments around the world have very different ideas about it. While some jurisdictions are trying to ban it outright, others just want to have a bit more control over how it’s traded. Some jurisdictions still don’t fully understand crypto and still don’t know if it should be qualified as a currency or a security. Understanding regulations is very important for traders as they can have serious tax and legal implications. Let’s look at a few examples of how crypto trading is regulated around the world.

United States

Even if crypto trading and mining are very popular in the US, the country still doesn’t have a clear regulatory framework for cryptocurrencies. The SEC, the Treasury, and the Commodity Futures Trading Commission all see cryptocurrencies differently, calling them a security, currency, and a commodity respectively. Not only that, but the IRS classifies cryptocurrency as property, which further complicates things for traders.

The country has done a great job at regulating exchanges in the country, however. All exchanges have to comply with the Bank Secrecy Act and be registered with the Financial Crimes Enforcement Network. They also have to abide by the Anti-Terrorism Act and anti-money laundering (AML) legislation.

Japan

Japan is another country that has decided to embrace crypto, and like other regions has seen a rise in the popularity of crypto trading via a range of providers that seek to serve this booming market. These include “regular” crypto exchanges, to decentralized exchanges known as a DEX, to online brokers of crypto derivatives like contracts for difference. All locally based trading platforms have to be registered with Japan’s Financial Services Agency (FSA), which is one of the most rigorous financial regulatory agencies in the world. All exchanges have to be compliant with AML obligations as well. Crypto gains in the country are taxed under “miscellaneous income” and crypto is viewed as property from a tax standpoint.

United Kingdom

The UK, like many other countries, does not recognize crypto as legal tender, but as property. All exchanges operating in the country have to be registered with the UK Financial Conduct Authority. They also have to abide by special ‘know your customer’ (KYC) regulations and follow AMT and CFT guidelines.

Canada

Canada is one of the countries that has taken the most proactive measures to regulate crypto trading. All exchanges in the country have to be regulated by provincial agencies. The country is also one of the first to accept crypto derivatives by being the first to approve a Bitcoin ETF in February 2021.

Australia

Australia is relatively proactive when it comes to crypto and has some strict rules about what exchanges can offer services to Australians and even which coins they can offer. Australia is one of the only countries to formally ban privacy coins, and exchanges operating in the country have to register with the Australian Transaction Reports and Analysis Centre while abiding by AML/CFT regulations. Australia also has strict rules regulating initial coin offerings (ICOs) and crypto is treated as legal property under the tax code.

Even if most countries have similar legislation governing crypto, there are still some nuances. This is why traders living in these countries or thinking of trading within their borders should learn more about the regulatory framework in each country before starting.

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