Sure, Binance has a way to take their ambassadorship to a new level; therefore, they have a new collaboration, Khaby Lame. He is an Italian Creator with a massive following on the Toktok. 

Binance is a blockchain ecosystem engine room with the world’s largest crypto exchange. Binance is quite hopeful that they will be getting Web3 awareness and adoption due to Khaby’s huge following and 144.7 million followers.

Lame has become a viral sensation after making videos of converting overly complicated tasks into easy life hacks. The best part is he demonstrated all of it without saying a single word. Therefore, it is padded out by the Lame, making his signature Khaby Move. 

Binance and Khaby Lame

Binance’s initial plan is to get the Lame to help clarify some of the misconceptions around Web3. Further, the deal is still in the process in a multi-year partnership. In addition, Lame will also be collaborating with the exclusive NFT  collection with Binance. 

Moreover, James Rothwell is the Binance Global Vice President of Marketing. He stated, “Khaby has become a cultural icon and one of the most entertaining creators globally. We love his charm and sense of humor and think it will bring relevance and relatability as we scale Web3 adoption. 

With so much nuance around Web3 and misinformation worldwide, it was a perfect match to have Khaby on board to help debunk some of the myths around this space.”

Lame is not only the most-followed creator on TikTok. He also has 78 million followers on Instagram.

Suggested Reads: Binance P2P: Buy Bitcoin through Cash App

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In a post-mortem, the exchange detailed that the issue arose when they were “repairing several minor hardware failures on wallet consolidation nodes. This is causing the earlier transactions to go on pending.

The company added that those pending consolidation transactions had a low gas fee and caused the later withdrawal transactions, “which were pointing to the pending consolidation UTXO [unspent transaction output],” to get stuck.

The exchange repeated that during the entire time that Bitcoin withdrawals. Giant Binance CEO Changpeng Zhao (CZ) also shared the hash of one specific transaction.

While all evidence seems to support Binance’s explanation, some users still argue about the exchange. It may be using fractional reserve systems, allowing customers to trade in “naked” Bitcoin.

The news comes as bitcoin is tumbling more than 10% on Monday. It is breaking below $24,000 and sinking to the lowest level since December 2020.

The largest cryptocurrency has been hit by macroeconomic concerns, including rampant inflation.

Binance is the world’s largest crypto exchange. The company handles spot trading volumes of more than $14 billion and nearly $50 billion in derivatives volume in a single day, according to data from CoinGecko.

The post Giant Binance Shares What Caused Backlog on Bitcoin Network, Resumes BTC Withdrawals appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Also, as per the original OpenSea update, the platform advised its customers to move their Ethereum-based NFTs. Users move the NFTS to a new smart contract address. A move that will cost no cent per gas fee. Users who do not complete the migration as instructed stand the chance of losing their old and inactive tokens. Further, Drawing on this detail, PeckShield, blockchain security and data analytics company is saying that the platform’s “Users authorize the “migration”. Though, the authorization, unfortunately, allows the hacker to steal the valuable NFTs.”

Moreover,  In a Twitter update shared by OpenSea’s Co-Founder and CEO, Devin Finzer, the attacker’s address has remained inactive for the time being. As per OpenSea, some of the stolen NFTs have are in the ownership of their owners. 

However, they are not aware of any recent phishing emails that have been sent to users. However, at this time, we do not know which website was tricking users into maliciously signing messages.”

OpenSea is the world’s largest marketplace for trading NFTs. Also, the platform has been the target of many malicious workers in recent times.

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Qubit Smashed by Hack

Another Binance Smart Chain protocol has been hacked.

An unknown hacker was able to drain $80 million worth of BNB tokens. He was reportedly able to take it from the Binance Smart Chain lending protocol Qubit Finance.

On Jan. 27 a hacker exploited a vulnerability on the Qubit Bridge, a cross-chain bridge connected to Ethereum. Further, this bridge lets users deposit WETH from the Ethereum main net into Qubit’s Binance Smart Chain-based smart contract to mint xETH.

Due to a critical vulnerability in the bridge’s smart contracts, the hacker was able to mint xETH without depositing any WETH. Thereby giving them the ability to take out unlimited leveraged loans from Qubit’s pools.

In a Twitter post announcing the exploit, the team reported that the hacker “minted unlimited xETH to borrow on BSC.” Using the xETH as collateral, the hacker proceeded to siphon 206,809 BNB from Qubit Finance, worth about $80 million at the time.

Hacker to The Team

In an on-chain message directed to the hacker, the Qubit team offered a bounty of $250,000 in return for the stolen funds. As per the protocol’s ongoing bug bounty program with the ethical hacking platform Immune. In another post, the Qubit team has also tried to contact the hacker to negotiate.

The Qubit Finance exploit appears to be the seventh-largest DeFi protocol hack in terms of the value of stolen funds, as per data from DeFi Yield. Following the hack, the protocol’s Qubit token has dropped 27% over the past 24 hours.

Since the launch of Binance Smart Chain in September 2020, the chain has become infamous for the number of hacks.

In 2021, several DeFi projects on Binance Smart Chain suffered major hacks or exploits. Some of the most severe include Meerkat Finance’s $31 million hack in March 2021, a Uranium Finance exploit that cost protocol users $50 million in April and the $88 million attack on Venus Finance in May.

Qubit Finance has not yet commented on plans to reimburse or compensate users for funds lost due to the exploit.

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In its place, traders seek selling or buying a futures contract that shows the worth of cryptocurrency at a particular period in the future.

Crypto futures enable investors to guess on the future worth of a crypto currency. For example, if you are participants, you can either go short if foresee a drop or you can go long and wager on a cost advance.

One of the important advantages of crypto futures and Binance is the leverage usage. It permits for better capital competence when traders don’t have to confine whole capital amounts.

Because the leverage usage boosts both potential risks and returns, users should always be careful and vigilant. Hence, traders must use a leverage money that goes well with them.   

For instance, if you are new or conservative to cryptocurrency trading, a two times or five times leverage would be suitable for you.

Leverage gives the opportunity to use futures trades like a defensive prevaricate for portfolios. In case, an asset was supposed to perform badly, or opposite than the assumed, a futures trade against this result would reimburse for the loss.

Now, you can give voice to a discussion with the all-new Trading Chatroom feature. You can easily get in touch with the like-minded people and futures traders and talk about the memes, news, tips, and the best strategies. Here, in this post, we will let you know how you can raise your voice after joining the chatroom.

Nobody is a born trader

The process of trading takes proper research, experience and time to recognize the marketplace and what runs them.

No matter if its deep technical analysis, project basics, and market trends, staying updated with all the latest things can be a bit overwhelming. And ultimately, gaining the knowledge from other people is one of the fastest methods to learn anything new.

For helping traders to share knowledge and connect, Binance Futures has developed a dedicated chat room for derivatives and futures traders.

Binance always wanted to build a platform for conversation, enabling everybody to share their thoughts, strategies, and news on the marketplace while trading.

The feature of chat room is free for all traders on Binance, both mobile app and desktop customers.

Create your own chatroom or begin a chat community.

You can follow three simple steps to join a chat room. In case you accessing the platform from a web browser, you will need to –

• Log in to your Binance Futures account and go to the futures trading option.
• Now, click on the icon of chatroom.
• Select your name and then click on the option “enter chatroom”.

When you enter the chat room, you can click on the gear icon for changing the language between Mandarin and English.

Besides talking through text, you can also use emoticons simply by clicking on the smiley icons. Temporarily, the information buttons describes slash commands that you can use for conveying trading positions.

Understand Binance Futures collectively through Mobile

It is very simple, easy and straightforward to use your mobile phone for chatting. For accessing the phone chat, all you need to do is to click the option called “More” in your application and choose the option “Chat room”. Now, pick a channel that you want to join and then you will be ready to start chatting within seconds.

Talk about latest Binance news with your friends

Whenever you chat while trading, you will always get an update and never miss a single update. You will always receive a direct list of the latest announcements and news direct to the chat room.

You can easily remain in the Binance chat loop via the chat room plus you can also share your latest gains, tactics, and thoughts.

Share Trading Tactics with Peers

When you register for the Biance Futures Grand Tournament, the admin of the platform will automatically add you into the group chat of the content. also, you will receive the choice to join any personal/private chat room. You will only need to type your Room ID.

When you enter the group chat, you will become capable to share all your realized PnL, latest performance, positions, and more with your associate Binance users. Also, you can share the performance of your team and know about the famous and effective tactics that your fellow members are using for winning the Futures Grand Tournament.

Well, it is not difficult to understand your fellow Binance users. Actually, the platform also supports you to learn from one another. So, whenever you trade on trading futures, you can also join the chat room.

Conclusion

Contracts of trading future on Bianance is quite simple. In case you are already a user on Binance , you can begin with your future trading business right away. Derivatives like futures enable traders to assess on future asset costs. At present, plenty of exchanges provide the services of futures trading.

Being familiar with the fundamentals of futures exchange aids you to win huge sum of money in this industry. Futures trading can be money-making if you have the correct information and risk management tactics to ignore big losses. Therefore, you must do due diligence and manoeuvre before trading futures and comprehend both their risks and their benefits.

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Here are some of the top reasons why NFT traders and collectors prefer Binance NFT as their preferred platform to sell their NFT. 

Since Binance NFT, it has become the fastest-growing and the biggest centralized NFT marketplace. It sells over 1 million NFTs and works with more than 800 creators worldwide.

Since its launch in June 2021, Binance NFT has become the world’s largest and fastest-growing centralized NFT marketplace, selling more than 1 million NFTs and working with over 800 creators worldwide.

1. Industry-leading Volume and Liquidity

Volume is the total sum of NFTs traded during a specified period, whereas liquidity is the speed at which an investor can buy an NFT asset or sell it for its market rate.

With high liquidity and volume, Binance NFT creators or sellers can process fast and straightforward transactions, plus they can sell as well as trade on a bigger scale and get exposure to the world’s biggest crypto community.

2. Simple deposits from BSC and ETH Networks

Using the latest features, NFT collectors can rapidly sell and deposit NFTs from other platforms on Binance NFT. But, you should consider some requirements.

Binance only deals with the NFT contract addresses completely incorporated with its own NFT Marketplace, and users cannot deposit NFTs using non-approved innovative agreements addresses.

This platform keeps expanding and updating the approved smart agreement list.

2. Reduced costs

Binance NFT takes a fee of flat 1% for all NFT creators and sellers. Compared to other platforms that gather up to 7.5% of expenses, Binance offers its services at a reduced price in the marketplace. Additionally, sellers need to pay 1% royalty charges to the creators. The attractive low amounts of the Binance NFT enable sellers to receive more revenue on their assets. 

3. Quick Fiat Cash Out

The platform provides a safe, straightforward, and faster way to withdrawal to binance from the NFT market. All the users of this platform can use their Binance wallets and current accounts on the Binance platform without additional steps.

4. How to trade BUSD and BNB revenues to fiat currencies 

After a successful sale of NFT, users can switch their profits (ETH, BNB, or BUSD) into accessible fiat pairs to withdraw. 

5. How to cash out Fiat through Card Withdrawal

You can also take out through card withdrawal and receive fiat for appropriate nations – UAH, RUB, EUR, and GBP.

6. Cash-Out via Third Party Payments

You can use third-party payments for GeoPay, SettlePay, and Advcash.

Access NFTs effortlessly with Binance Mobile App

The Binance NFT platform is automatically associated with your mobile application’s wallet and user account. While using its application, you need to click on the option “More” on its homepage.

Here you will find another option, “Trade” now, click on the Binance NFT, and follow the exact process you did before for listing your NFT for sale.

Ranking feature

Binance NFT highlights the best artists, NFTs, and collections on its ranking boards. Collections and artists get more publicity, whereas collectors can simply discover trending and new pieces to increase their collections. Also, the new ranking boards allow collectors to evaluate better and charge their asset value more precisely, boosting the possibility of a more lucrative sale.

7. Simple Token Conversions     

Binance NFT holders can easily switch NFT crypto revenue to their favorite product or token on the Binance platform. It gives different features that fulfill various crypto targets. You can withdraw your gains, send them whenever you want globally, or subscribe to an Earn-product for generating crypto rewards, etc. 

How to Deposit NFTs on Binance NFT

For building a large platform, NFT collectors from NFT, ETH, and BSC platforms can now influence the most significant crypto community across the globe, trade and sell on a bigger scale and enjoy the maximum NFT marketplace.

Binance accepts agreement addresses incorporated with the NFY market place with Binance. Here are the steps to follow for depositing NFTs on your Binance NFT.

Connect your wallet

Visit the User Centre page and click on the option “Deposit.”

You will then see the option “Wallet Connect.” From here, you will need to pick your wallet network (Ethereum network or Binance Smart Chain) and then click on confirm.

Now, choose the suitable wallet from WalletConnect or MetaMask and click on Sign.

2. Make your first deposit

First of all, you should click on the Deposit NFT option. Now, here you will need to paste the NFT contract address of your asset; you can find this option in 

NFT contract address under Means the address of your contract. Please click on the enter button and try not manually enter the address.

After evaluating your contracts address and other details, you can check the NFTs of your collection. You will have to choose the one you wish to deposit and then click on it.

Fix the gas charges for your deposit and click on the confirm option.

As soon as you finish the process, you can quickly get and list your deposited NFTs in the NFT Asset. 

Conclusion 

The NFT industry is closely considered as one community. Community engagement and promotion are the next major step once you have listed your NFT on a marketplace. So, pick your products carefully and invest in your favorite product.  

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The post How to Deposit & Sell NFTs on Binance NFT Marketplace? appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

With the increase of blockchain gaming, Initial Game Offerings are becoming the most trending entity in the crypto world. Games like Alien Worlds (TLM), CryptoBlades (SKILL), and Axie Infinity (AXS) have millions of regular active users. Axie Infinity is presently leading the crowd with more than $1.1 billion in sales. Thanks to its extensive fame, plenty of IGO launchpads have surfaced Seedify. Fund (SFUND), Gamestarter (GAME), Enjinstarter (ENJINSTARTER), Gamefi (GAFI), and others.

GameFi

GameFi is considered one of the foremost launchpads to present the idea of IGO (initial game offerings). At present, there are two IGOs available on the GameFi platform, known as Deathroad IGO and $KABY Pool IGO. Both of these games give their primary tokens to players who can either keep them or wait for some time for the rates to increase. Or they utilize the tokens to improve their blockchain game-oriented experience.

Enjinstarter

Enjinstarter is another famous IGO launchpad that gives exceptional features and projects comprising DeFi platforms, NFTs-based platforms, and yield farms. The project developed on Enjin’s Jumpnet, a great platform for gaming developers. It is to create communities and run various promotional campaigns to enhance gaming projects. The main reason behind giving IGOs is to offer untimely access to gaming resources that early investors can rely on and anticipate a considerable ROI in the future. 

The Primary IGO on Binance NFT

Recently, the primary DeRace IGO was introduced on the Binance NFT platform. DeRace is an NFT-based horse-racing game system. Here gamers can raise NFT horses with exceptional features, take part in races, or host races at their personal NFT racetrack. They even get revenue in the process. The DeRace drop showcases ten different types of NFTs, comprising five Binancian horses and five regular horses.

Binance NFT, the metaverse and the numbers 

Binance NFT was recently introduced in June 2021. Soon it has become one of the increasing platforms in the globe in just one month. It allegedly generated sales worth 25 million BUSD in that period. Sold more than 300,000 mystery boxes, and employed 400 internationally. Till now, the NFT market has successfully sold more than 900,000 mystery boxes and gained more than 103 million BUSD. Its fast development considers the prospective of promising market niches, like the new amalgamation of blockchain and NFT games. The target is the most acknowledged metaverse, which has become the hottest topic of discussion today.

A few weeks earlier, the topmost social network company Facebook announced it would employ 10,000 people in Europe. It is for the upcoming five years to work in its prospective metaverse. Not just that, other reputed tech companies like Alibaba and Tencent are also competing with the metaverse. They portraying it as the new cutting edge of digital business. 

John Hanke, the creator of Pokémon Go, and CEO of Niantic, also showed his philosophical outlooks on the metaverse. He is reported to have said that “Metaverse is a Dystopian Nightmare”. Hanke also described the significance of using this facet as technological growth and not as a sanctuary for humanity. Hanke and his company have already dictated the exploit of augmented reality (AR) in the Pokémon-Go game.

How Does an Initial Game Offering Work?

All Initial Game Offerings will have a focused landing page. Thus users can meticulously explore the game and each drop. You can also access these pages similar to every other plunge on Binance NFT. On these pages, you can discover details like in-game previews, development roadmaps, a short preface to the game, accessible NFTs for sale, etc. Consider the project’s landing page as their small gaming metaverse Binance.

A New place for NFT Gaming

Regardless of the increasing fame of NFT games – which formed over 50% of the NFT business volume – plenty of these projects have attempted to discover a dedicated place to develop their community and game. With Steam’s current outlaw of all blockchain, crypto and NFT games from their storefront, the blockchain ecosystem lacks a recognized game allocation platform to create a flourishing community and fanbase.

Binance IGO will give the base for a gaming metaverse to join NFT assets and high-quality blockchain games to the most passionate and the biggest crypto area globally. Additionally, we also anticipate boosting hype and exposure for gaming projects not accommodated on the Binance-Smart-Chain.

Things you can hope for from Binance NFT IGOs

• You can access premium-level NFTs at a reduced cost. Some of the Initial Game Offerings introductions will also sell at a reduced cost to users of Binance NFT.
• VIP sneaks peeks and special early access to NFTs before official public release or game launch.

How can you participate?

If you already use Binance, you can use the money in your Binance NFT wallet.

How can gaming projects request the IGO? 

If you want to launch IGO games on Binance NFT, you can first fill up the application form. Then the Binance NFT executives will assess and contact you to let you know about your status and tell you whether your application approved and successful or not. Binance NFT Initial Game Offering is a multi-chain, and it is open to any premium gaming projects across all blockchain systems. But, together with the $1B growth fund of Binance Smart Chain, MVB (Most Valuable Builder) winners will get a possibility to get shortlist.

How to Buy an NFT on Binance NFT Marketplace

Buying an NFT in an immediate sale is easier than bidding on a sale. As soon as you have discovered the right NFT you wish to purchase, you can click on the “Buy Now” Button to pay the complete price.

Conclusion 

In conclusion, investing in IGO launchpads and IGOs is pretty similar to any other investment decision. First, you will have to assess whether the IGO launchpad has a great reputation and is dedicated to offering support for leading gaming projects. After evaluating everything, you are ready to invest. So, get ready and begin your investment journey with Binance IGO NFT now. 

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Electronic Arts, with the legacy titles like Madden and FIFA, has had a dedicated player base for many years. The company’s CEO Andrew Wilson explained blockchain technology, especially NFTs, and play to earn capability as the “Future of the industry”. 

The NFTs/Play to Earn Future

On the earnings call, the CEO of EA, Wilson, also stated that it’s still early to understand how it will work. Provided EA’s long-time Licensing partners, particularly with the heavy-hitting sports league IP. Further, he added, there is a visible potential in moving forward in integrating the NFT’s into gaming. Like, how the ecosystem at large works is a much muddier perspective.

Current State of Things

Conventional gaming publishers have moved with caution around the integration of the blockchain. Ubisoft is one of the first prime developers actually to make a move to support Blockchain-powered brands like Animoca. Further, another high-end developer, Valve, has also openly expressed having no interest in the NFT engagement or NFTs. This is the case with many blockchain integrations. Whereas, EA, being the first mover, is likely to bring the high reward and high-risk factors. Such factors can leave the experienced players more hesitant to play.

NFTs and Play-to-earn games have made a spot this year in the Crypto-sphere, underlined by the huge success of the Axie Infinity.  With the growth of crypto and gaming, traditional publishers feel the heat to be “Future-ready”. 

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According to the launch schedule announced by Binance, trading on the platform will start around 10 a.m. Singapore time (which is 02:00 UTC and 10 P.M. Eastern Time).

The first auction on the Binance NFT marketplace will feature Andy Warhol’s “Three Self Portraits” and a digital NFT version of Salvador Dali’s “Divine Comedy: rebeget.” The auction will be live for five days.
Earlier in April, inspired by the popularity of NFT tokens and open marketplaces, Binance announced launching a native marketplace to tap into the emerging market.

While NFTs gained immense popularity at the beginning of the year, the fervour has cooled off. Recently, Coinbase co-founder said that he believes over 90% of NFTs will have no value in the coming 3-5 years. Also, the overall trade volume of the NFT tokens is low by about 90% recently. However, much of that can be attributed to the plummeting prices of top tokens and a struggling market.

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