Why There Are So Many Cryptocurrencies And What Are They Used For?
To understand these, think of them as different projects rather than simple currencies. All of these started with Bitcoin, the expensive one, the only reason it's expensive is: because it's the most popular and widely accepted cryptocurrency. Since Bitcoin is hard to mine and has its limitations, people created Bitcoin forks (projects derived from Bitcoin), like BitcoinCash (BTC), Litcoin (LTC), SotoshiVision (SV), etc these projects were created for a reason, e.g BitcoinCash was created because
Basic Math (%) Understanding For Crypto, APY, APR & ROI
Percentage is a basic and important concept in crypto. It is a way of dividing something into 100 equal parts and then describe parts of it. i.e. If I have $1k dollars. And I spend $200 dollars from it, then what percentage of $1k I spent? Formula = Parts/Total x 100 Calculation: 200/1000 x 100 = 20% I spent 20% of $1k. Now to find 20% of $1k is how much? Formula = Total x (Percent in Fraction) Calculation: 1000 x .20 = 200 20% of 1k is 200. To represent percent in fraction, divide the percent b
Why I Am Not Farming Ethena (ENA) With $10k FDUSD?
Last time I farmed ETHFI with $10k FDUSD and it was not that profitable. A detailed post about it, is on my profile here: ETHFI Farming With 10k FDUSD RN I have USDT so converting USDT to FDUSD will cost me some $10 - $15 fees, plus FDUSD is trading right now at $1.0020+/USDT, so converting $10k USDT to FDUSD will give me $9980 FDUSD. An additional $20 cost. Also I am not far
I tried ETHFI farming with $10k FDUSD. And here is the result. I had $10k USDT and so I converted it to FDUSD which costed me $15. Then I stacked FDUSD for three days at .2 ETHFI per hour and now I will get in total 11 ETHFI. RN FDUSD is trading at .9980 so converting my FDUSD back to USDT will cost $20. So it costed me in total $35 plus conversion fees and three days. And in return I got ~11 ETHFI. IMO 11 ETHFI will be hardly worth $20. You can escape the conversion and up/down costs, If you al