The rise of smartphones made online auctions even more convenient, allowing people to bid from anywhere using mobile apps. Blockchain technology has further advanced this trend, giving way to NFTs (non-fungible tokens). Platforms like OpenSea and Rarible let users auction digital assets like art, music, and more.

Online bidding is deeply integrated with the e-commerce industry, providing a unique way to acquire everything from common goods to rare antiques. To understand how decentralized auctions differ from traditional ones, it’s key to recognize that Web3 auctions occur on blockchain-based platforms, removing the need for intermediaries. Smart contracts play a crucial role in this setup by automating and securing the entire bidding process.

What makes decentralized auctions stand out? First off, they’re open to anyone with access to the blockchain and the required cryptocurrency. They’re also much more secure and less prone to manipulation because smart contracts ensure that agreements are carried out exactly as intended. Plus, they often come with lower costs, as traditional auctions usually involve fees for both buyers and sellers, which can vary depending on the product and platform.

Web3 auctions operate with cryptocurrencies, which introduces the risk of volatility—crypto values can fluctuate after you place a bid. However, you can manage this risk by using stablecoins. With good planning, you can make the most of blockchain auctions.

“With the help of cryptography, blockchains can have decentralized consensus without the need for a trusted central authority. This means that people can build applications and systems that are secure and reliable, even when they do not know or trust the other participants. This decentralized nature allows for more open and transparent systems that are less susceptible to censorship and control by any single entity”.

–Vitalik Buterin.

Let’s explore some platforms that show how blockchain technology has revolutionized the auction process:

• OpenSea: As one of the largest decentralized marketplaces for NFTs, it lets users buy, sell, and auction digital art and collectibles. Each NFT is tied to a smart contract, allowing artists to sell their work directly and earn automatic royalties every time their pieces are resold.
• Zora: An ecosystem with two main components: Zora Network and the Zora DApp. The Zora Network operates on a decentralized blockchain, giving creators complete control over their digital assets and ensuring they receive a fair share of the value generated. The Zora DApp uses this infrastructure to facilitate real-time buying, selling, and auctioning of these assets.
• Rarible: A Web3 NFT marketplace featuring its governance token, RARI, awarded to active users. It allows users to launch auctions for their NFTs, setting a starting price and duration.

“Ethereum is a global computer that can execute smart contracts, which are self-executing contracts where the terms of the agreement are directly written into code”.

–Gavin Wood.

Initially, platforms like eBay and Amazon Auctions made digital auctions more accessible, and smartphones allowed bidding from anywhere. The real breakthrough, however, came with Blockchain technology. Platforms like the ones mentioned here have revolutionized the market by improving security and cutting costs. Web3 auctions have quickly become a crucial part of the e-commerce landscape, using smart contracts to ensure terms are met and creating more open and efficient ways to buy and sell digital assets.

The post From Physical Markets to Blockchain: The Rise of Web3 Auctions appeared first on The Pepes.

For this and so much more, I’m truly grateful for the existence of cryptocurrencies… They streamline life, providing options and freedom where layers of bureaucracy and unjust restrictions reign. In countries where governments erect countless barriers to economic freedom, Bitcoin, Ethereum, and their counterparts emerge as beacons of hope, enabling transactions devoid of meddling government entities. Yet, it’s important to note that barriers to free trade are just one part of the problem, as oppressed nations often grapple with soaring inflation rates.

Inflation spells disaster… Prices skyrocket, the local currency’s value plummets against the US dollar – it’s not that the dollar “gains value” in these countries, but the national currency becomes increasingly worthless – and salaries, savings, and pensions evaporate. Without legal access to much stronger fiat currencies, people resort to black markets, but navigating those paths can be challenging. In contrast, cryptocurrencies are gaining traction and offer more robust solutions for protecting savings.

“Inflation is the most cruel and regressive tax that can be imposed on people… it is the result of too much money chasing too few goods. Inflation doesn’t affect everyone equally; it hits much harder on people who earn less”.

-Milton Friedman.

Against Censorship

In the face of severe assaults on freedom of expression and economic liberty, it’s only natural for individuals to unite and seek avenues to support their causes – in oppressive regimes, even NGOs face government persecution. Well, cryptocurrencies enable cross-border and anonymous donations to human rights advocacy organizations. Also, blockchain-based initiatives serve as vital tools for disseminating uncensored information. Activists can leverage decentralized platforms to share content, including reports on human rights violations, free from the threat of censorship by authorities.

Whether due to political, cultural, or ideological differences, the interpretation of human rights remains a topic of debate for some, even in 2024. In an era where common sense seems increasingly scarce, those who are not influenced maintain a clear stance: human rights guarantee the right to life, freedom of expression, and equality before the law. Safeguarding these principles is essential for fostering peaceful and sustainable societies, where individuals can realize their potential and live with dignity, whether they opt to flourish in their home country or seek personal enrichment in foreign lands.

“The right to pursue happiness transcends mere constitutional entitlement; it embodies the very essence of the human spirit. It’s the relentless quest for meaning and purpose that propels us, defining our humanity”.

-Eric Hoffer.

If someone suggests that claiming cryptocurrencies can save lives is an exaggeration, well, they lack understanding. There have been several specific instances where cryptocurrencies played a crucial role in defending human rights: in Venezuela, amidst a hyperinflationary crisis; in Iran, a nation subjected to numerous financial restrictions imposed by the government and international sanctions; during the 2019 pro-democracy protests in Hong Kong; in Zimbabwe, a country marked by periods of hyperinflation and currency devaluation; and Ukraine, where funding was sought amidst the conflict with Russia.

In a world where many societies grapple with economic, political, and social challenges, cryptocurrencies have emerged as a vital tool to safeguard individual rights and foster financial freedom. Blockchain-based projects offer an alternative that confronts government repression, censorship, and unchecked inflation. Politicians often wreak havoc and expect the people to foot the bill… It’s important for us to recognize that we’re not destined to endure the repercussions of any system, particularly not an authoritarian one, and to educate ourselves in new financial technologies. By taking this road, we’ll have a better chance of creating opportunities where they’re scarce.

The post The Role of Cryptocurrencies in Human Rights Protection appeared first on The Pepes.

When users think about social media, companies like Facebook and X are top of mind for good reason. They’ve defined the landscape, offering a boundless source of information and a springboard for startups and social causes. But what if I told you there are other options? Though less renowned, they promise greater transparency, autonomy, and empowerment. As we discussed in our post on Blockchain-powered gaming, exploring new avenues is always worth the journey.

The topic at hand today is quite close to me. It’s one of the first areas I delved into when I began researching Blockchain several years ago… It’s time to dive into Web3 social networks and how they change the game. Unlike traditional social media platforms, where one company holds all the cards, Web3 embraces decentralization. This shift mitigates issues like censorship and uneven value distribution, putting power back into users’ hands rather than a single entity making all decisions.

Web3 social networks

Steemit: introduced in 2016 by developer Dan Larimer and American entrepreneur Ned Scott, it’s a social media platform that uses Blockchain to encourage content creation and continuous engagement. Users are rewarded with cryptocurrencies known as Steem and Steem Power (SP): the former is a floating cryptocurrency, and the latter is a stablecoin tied to the USD dollar. Its Blockchain operates using the Proof of Stake (PoS) consensus algorithm.

Steem (STEEM) is the platform’s native crypto, rewarding users for crafting good content, while Steem Power (SP) represents the user’s influence within the ecosystem. People can stake Steem to acquire SP, giving them greater decision-making power. It’s worth noting that SP cannot be converted back to Steem for around 13 weeks.

Minds: founded by John Ottman, Mark Harding, and Bill Ottman, it emerged in 2015 as an alternative to the big social networking platforms. Here, users can earn Minds tokens by posting content and receiving tips from others. What’s more, Minds operates on open-source software, granting users the freedom to develop their social networks. Much like Facebook, people can chat with friends, form groups, and share photos and videos.

“I always considered it necessary and inevitable for an open-source, free social network to emerge and compete with tech giants. Global communication platforms must respect community freedom; otherwise, we end up where we are now: with surveillance and algorithmic manipulation. We knew we couldn’t be a sustainable network without building an independent social engine from scratch, entirely separate from big tech’s APIs”.

-Bill Ottman, Minds CEO.

Hive: born from a Steem Blockchain fork in March 2020, swiftly transitioned into a decentralized space driven by the Delegated Proof of Stake (DPoS) algorithm. Hive emerged from a community of users disenchanted with Steem’s direction, after driving many debates about platform governance. Here, people can share content, interact with others, and earn rewards in Hive tokens.

The Hive website touts the project as Fast (transactions confirmed in milliseconds), Scalable (optimized for long-term sustainability), and Powerful (tools like PeakD and 3Speak were built on the platform); moreover, Hive has its native stablecoin: HBD (Hive Dollar).

“Hive is one of the most decentralized blockchains. There is no single entity or organization that controlls the network. Everything is run by the community members. The initiative behind the creation of Hive was decentralization. The community came together to create something that cannot be overtaken by the centralized entities”.

Web3 social networks strive to offer increased security and reliability, empowering the community to play a more active role in decision-making and governance. These platforms present a prime opportunity to reconsider how we connect today and truly grasp decentralization’s value. Alternatives like Steemit, Minds, and Hive not only financially reward users for their engagement but also combat censorship. Freedom of expression is sacrosanct.

The post Building Communities in the Web3 Space: The Evolution of Social Networks appeared first on The Pepes.

A few crypto assets have emerged to enhance anonymity, known as privacy coins. You might wonder: why the insistence on total privacy if there’s nothing untoward going on? Even if users aren’t involved in shady dealings, worries about increasing government surveillance of financial transactions are valid. When paying with cash, there’s often no paper trail. Do you really need meticulous records of every single transaction? I highly doubt it.

“Humanity is like an ocean; if a few drops are dirty, the ocean does not become dirty”.

-Gandhi.

Assuming that seeking financial privacy equates to promoting illegal activities is an extremely radical stance, where emotion seems to override reason. Our magicians firmly believe in people’s ability to create and improve their lives… We don’t subscribe to a pessimistic view that assumes people always have malicious intentions.

Today, we’re diving into cryptocurrencies that offer enhanced privacy features, hiding certain transaction details like amounts or addresses. We’ll explore three examples:

Monero (XMR):

Released in 2014, Monero uses the Proof of Work (PoW) consensus algorithm. Their team proudly states their commitment to “providing the highest level of decentralization in both network security and code development”. Monero employs the Ring Confidential Transactions (RingCT) protocol to conceal transaction amounts. As of the time of writing, the project is valued at $121.51. According to information published on the project’s website:

“Monero’s development and research are conducted via global collaboration, and the project is carried out with utmost transparency. Each development decision is open to public discussion, and every major developer meeting is published online”.

Zcash (ZEC):

In 2016, Zcash emerged led by Zooko Wilcox-O’Hearn, a prominent figure in numerous online security and privacy initiatives. The project employs the PoW consensus algorithm and distinguishes itself with its zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) protocol, which enables transactions to be verified without disclosing information about the parties involved (Zcash allows for both private and public transactions). Currently, the project is valued at $23.20, according to CoinMarketCap data. As stated on the ZEC website:

“In Zcash, zero-knowlege proofs enable privacy. They ensure a person’s wallet balance and transaction history are accurate without revealing the actual balance and transaction history. So, if a person tries to send ZEC to someone else, for example, the Zcash blockchain network is assured that the ZEC being sent is authentic and that the sender’s balance will cover the transaction”.

Dash:

Formerly known as “Xcoin” and “Darkcoin”, Dash entered the market in early 2014. Created by Evan Duffield, it initially emerged as a Bitcoin codebase fork. Dash (DASH) uses PoS (Proof of Stake) and offers privacy features through its PrivateSend function (leveraging CoinJoin technology). This feature allows users to conduct anonymous transactions as desired. Additionally, the project features InstantSend, enabling immediate transactions. As of writing, Dash is priced at $30.31, according to CoinMarketCap // Click here to access a video on how PrivateSend works.

Privacy coins like Monero (XMR), Zcash (ZEC), and Dash (DASH) are a direct response to user concerns about government surveillance. They showcase how Blockchain technology can be tailored to enhance transaction confidentiality to varying degrees. In today’s digital age, privacy is a fundamental right, and it’s unjust to question it or label it as an excuse for illicit activities… Our wizards are dedicated to providing content emphasizing the importance of financial privacy.

The post Diving into Privacy Cryptocurrencies: What They Are and How They Differ from the Rest appeared first on The Pepes.

In the crypto space, it’s common for Bitcoin’s price and its short- and medium-term outlook to dominate online searches. While the focus on the leading cryptocurrency is understandable, newcomers should also explore other projects. Although we can’t cover every relevant initiative in a single article, it’s crucial to recognize that the crypto ecosystem extends far beyond Bitcoin; many other assets have significantly contributed to the industry.

Last time, we covered Solana, Dogecoin, Cardano, and Polkadot. Today, we’re bringing you part two of what could easily become a regular series. This time, we’re focusing on Shiba Inu (SHIB), Litecoin (LTC), Monero (XMR), and Bitcoin Cash (BCH), all of which, as of this writing, are among the top 30 cryptocurrencies by market capitalization.

Shiba Inu (SHIB)

Shiba Inu was launched in August 2020, and its creator remains anonymous, known only by the pseudonym “Ryoshi”. You might recognize this project because Shiba Inu is a major player among memecoins—cryptocurrencies that gain fame through humor and social media. SHIB, inspired by Dogecoin (which also features a Shiba Inu dog as its logo), aims for a more ambitious expansion. The project is part of a broader ecosystem that includes other tokens like LEASH and BONE, and it features its own DeFi platform, ShibaSwap. This exchange allows users to trade ERC-20 tokens on the Ethereum blockchain, stake their crypto, and perform other operations.

Currently, Shiba Inu is priced at $0.000014 per token, making it the 13th largest cryptocurrency by market cap.

Litecoin (LTC)

Litecoin is one of the oldest and most popular projects in the crypto world. It holds a special place for me, as several of my first jobs in the sector back in 2017 were paid in LTC. Created in 2011 by software engineer Charlie Lee, Litecoin was designed to address some of Bitcoin’s limitations. Although its code is based on Bitcoin, Litecoin operates much faster—generating a block in just 2.5 minutes compared to Bitcoin’s 10 minutes. It’s also known for its low fees and a maximum supply of 84 million coins, which is four times Bitcoin’s limit of 21 million.

According to CoinMarketCap, LTC is currently priced at $60.85 per coin and ranks as the 20th largest cryptocurrency by market cap.

Monero (XMR)

Monero is a “privacy cryptocurrency”, designed to hide transaction details and protect user identities. The project was originally led by Riccardo Spagni, known online as “Fluffypony”, who stepped down in December 2019 and was succeeded by a developer known as “Snipa”. Monero uses a ring signature system to mix transactions with many others, making it difficult to trace where the funds came from. It also employs stealth addresses, which generate a unique address for each transaction instead of using a fixed address that can be traced.

CoinMarketCap lists XMR at $158.29 per token, making it the 29th largest cryptocurrency by market cap.

Bitcoin Cash (BCH)

Bitcoin Cash was created in August 2017 as a fork of Bitcoin to address scalability issues. Unlike Bitcoin’s 1 MB block size, Bitcoin Cash initially used 8 MB blocks and later expanded to 32 MB. This larger block size results in lower transaction fees and faster confirmation times. Despite its promising start, Bitcoin Cash has struggled with adoption challenges. The project has also undergone several forks, leading to new versions like Bitcoin Cash ABC and Bitcoin Cash SV, each with its own set of changes. BCH was driven by developers and miners who disagreed with Bitcoin’s development path, with Roger Ver being one of the main supporters.

Currently, BCH is trading at $322.93 and is ranked 16th by market cap.

The post Exploring the World of Altcoins (Part II): Shiba Inu (SHIB), Litecoin (LTC), Monero (XMR), and Bitcoin Cash (BCH) appeared first on The Pepes.

Apps, music, gift cards, and e-books are perfect for microtransactions because of their reasonable prices. Many e-commerce platforms focus on selling these items, with Gumroad standing out. It allows creators to sell digital content directly to their audiences.

How does Gumroad work? It’s simple: an author can publish a book, set a price like $9, and users can pay with options such as credit cards or Bitcoin. Once the payment is done, the shopper instantly gets a download link for the book. Gumroad also supports subscription-based content.

Another platform using microtransactions for content distribution is Ko-fi. It helps artists, writers, and software developers receive small donations and sell digital goods. Supporters can contribute to their favorite creators with “coffees”, typically between $3 and $5, making these contributions classic microtransactions.

Gumroad and Ko-fi showcase how micropayments have become a key element of e-commerce. They allow users to offer exclusive content and earn revenue directly from their followers through a straightforward and user-friendly process. Another example of platforms using micropayments, this time in the crypto sector, is Bitrefill. This site lets you buy gift cards, top up mobile phones, and pay bills with crypto like Bitcoin, Ethereum, USDC, USDT, Litecoin, Dogecoin, Dash, and more.

In recent years, cryptoassets have become a recognized payment method on many e-commerce sites. Their features make them ideal for microtransactions. Unlike traditional payment systems, which often impose high fees on even small transactions, cryptocurrencies typically involve much lower costs.

Blockchain transactions typically process in minutes or seconds, surpassing the speed of bank transfers and credit card payments. Plus, users’ identities are protected by crypto addresses, providing enhanced privacy. 

Changing the Way We Interact with E-Commerce.

Micropayments have made it easier to access a wide range of digital products and services with small, manageable transactions. They streamline digital content sales and allow people to directly support creators, making the buying process simpler and more accessible for both consumers and sellers.

Adding crypto to microtransactions brings a new level of efficiency and security. Services like Bitrefill show how cryptocurrencies, with their low fees and fast transactions, are much more effective than traditional payment methods. Blockchain technology allows for near-instant payments, bypassing geographical barriers and the costs associated with fiat currencies.

There’s no denying it: keeping up with trends in online commerce boosts the user experience and opens up new opportunities for creators and businesses alike.

Other Topics on E-Commerce and Crypto:

• The Future of E-commerce: The Role of Web 3.0 and Cryptocurrencies.
• Cryptocurrency Transaction Security: Precautions Small Businesses Should Take.
• Why are stablecoins important for the e-commerce industry?
• Why is decentralization important in the e-commerce industry?
• The benefits and challenges of accepting cryptocurrencies in your e-commerce.

The post Exploring How Microtransactions and Cryptocurrencies Are Changing Online Commerce appeared first on The Pepes.

We love to take advantage of any opportunity to immerse ourselves in such an exciting area as the one that brings us together today. Our task extends beyond simply disseminating a message. We’ve taken on the responsibility of addressing two fronts. Covering the information deficit on topics related to cryptocurrencies and Blockchain. Today, rather than discussing our perspectives on the future of Web 3.0, we’ve chosen to gather testimonials from prominent figures within the sector. While we’re confident in our knowledge of the topics we discuss, it’s always beneficial to explore other viewpoints, especially when seeking to deepen our understanding and reinforce the values we consistently convey to our audience.

We start by discussing Andreas M. Antonopoulos, a highly respected educator in the crypto field and author of important books such as “Mastering Bitcoin: Unlocking Digital Cryptocurrencies” (2014), “The Internet of Money” (2016), and “Mastering Bitcoin: Programming the Open Blockchain” (2017), among others. Since 2012, Andreas has gained notoriety by delivering lectures and writing articles on Blockchain and decentralization, demonstrating a strong commitment to encouraging people to protect their privacy in an increasingly digitized and surveilled world. Antonopoulos is renowned for his skill in explaining complex topics clearly and effectively to his audience. On several occasions, particularly in his book “Mastering Ethereum: Building Smart Contracts and DApps” (2018), the Greek-British speaker has discussed the paradigm shift represented by the arrival of Web 3.0. One of his most notable thoughts on the matter is:

“Web 3.0 envisions a world of autonomous, distributed, and decentralized systems, granting individuals greater control over their digital lives… The new generation of the Internet is not just about code, but about people coming together to create a better future”.

This vision aligns with the philosophy and values that Antonopoulos has sought to convey for many years. During a 2019 talk in Buenos Aires, the former independent consultant expressed that those who advocate centralization often assume that “people are bad”, emphasizing the importance of recognizing that “most people are good”. He stressed the significance of building decentralized systems as a means to demonstrate that a better future and better experiences are possible.

Now let’s discuss Pete Townsend, a businessman with decades of experience in startups. Townsend serves as Managing Director of Techstars, a network of small business accelerators, and is known for his investments in more than 250 projects related to the Web 3.0 space. In an interview with Cointelegraph, when asked about the criteria for selecting new companies in their acceleration programs – Protico, JR Studio, and OLTA are among the 12 companies chosen from nearly 750 applications for the Techstars accelerator program in Dublin -, Townsend provided insights:

“We want to understand how these companies are contributing to building a decentralized Internet, whether they are building a tokenized economy or a centralized business, and how they will drive the onboarding of the first billion Web3 users”.

Later, when asked about his recent investments in gaming and fan platforms, Townsend added:

“Gaming and fan platforms reflect the potential of Web 3.0 to transform everyday activities with more immersive and rewarding experiences. By leveraging these sectors, we are diversifying the Blockchain ecosystem and fostering use cases that could lead to widespread adoption”.

In line with this, it’s worth highlighting that Sandeep Nailwal, co-founder of Polygon, unveiled a Web3 loyalty program last December. In a collaboration between Polygon and Flipkart – one of India’s leading e-commerce companies –, it was revealed that the latter will utilize the Polygon SDK – a scaling and development platform for Ethereum – to establish its presence in Web 3.0. The goal is to leverage Polygon’s ecosystem to create a layer 2 network powered by ZK, enabling Flipkart to conduct efficient and highly private transactions. Nailwal shared his insights on this development:

“This marks a turning point for the Web 3.0 ecosystem in India. The path is laid not only to encourage the country’s leading Fintech entrepreneurs to develop Web3 solutions but also for many other major consumer brands to create their blockchains designed to support dApps”.

We conclude with Vitalik Buterin, an iconic figure in the crypto space who requires no introduction, recently remarked that several Web3 projects have strayed from the true essence of decentralization. For years, Buterin has advocated for digital identity solutions that operate independently of centralized agents.  

In 2022, Vitalik proposed “NFT soulbounds”, which are non-fungible tokens linked to a single digital address once they are transferred to it. This means they cannot be exchanged between different users, unlike tokens commonly used in online games to reward gamers with virtual items – for example, in the “World of Warcraft (WoW)” franchise. According to Buterin, the idea emerged as a much more robust Web3 social security system, aiming to address the transferable nature of NFTs, which he views as a vulnerability exploitable by malicious actors. Each soulbound token (SBT) represents a non-transferable NFT that reflects various use cases, such as work experience, credit history, and completed studies. The solution is viable for different educational institutions to issue certificates such as SBT to people who complete their courses, as well as to facilitate simple property transfers, such as the sale of real estate.

In the introduction of his paper, the co-founder of Ethereum emphasized:

“Because Web 3.0 lacks primitive elements to represent social identity, it has become fundamentally dependent on highly centralized Web 2.0 structures that it aims to transcend”.

The authors of this project are Vitalik Buterin, Puja Ohlhaver, and E. Glen Weyl.

In a constantly evolving environment, it’s often essential to analyze the perspectives that have shaped various projects. Each year, the blockchain sector spawns thousands of ideas aiming to revolutionize aspects of our lives, fostering a burgeoning community of developers, entrepreneurs, and investors. While we can’t cover information related to all areas, who says we can’t try? If we manage to inspire at least one person to delve into this exciting world, then we’ve accomplished our goal. Are you in?

If you’re interested in learning about the projects we’re currently working on, don’t forget that you can access the trial phase of Hamza, the first decentralized e-commerce platform powered by the LOAD protocol. Follow our roadmap by clicking here.

The post Insights from Prominent Figures: Testimonials in the World of Web 3.0 appeared first on The Pepes.

It’s no secret in the industry that since its launch in 2017, Binance has quickly become a major player, leading the market in both transaction volume and user numbers. Key factors behind this success include its broad selection of crypto assets, multilingual support, and a wide range of services such as spot trading, staking, and loans. Recently, Javier García de la Torre, Binance Spain’s Director, discussed the growing interest in crypto in Spain. In an interview with Cointelegraph en Español, he was asked about Binance’s role in the spanish market and shared his thoughts:

“Spain is a crucial part of our expansion into Europe. Spanish users have shown a strong interest in both cryptocurrencies and Blockchain technology, fostering a vibrant and dynamic ecosystem.

Our latest survey, which delved into spanish users’ habits to offer a clear picture of their preferences and behaviors, shows that nearly 60% of crypto users either hold cryptocurrencies or view them as a long-term investment (30% and 28%, respectively).

These findings highlight the deep commitment of spanish users to long-term trading and their confidence in the future of digital assets. This reflects both the evolving landscape and the increasing trust in this emerging asset class”.

Data from Bitget shows that Bitcoin (BTC) and Ethereum (ETH) dominate the spanish market. In H1 2024, these cryptocurrencies accounted for nearly 75% of the trading volume, with BTC making up 57.8% and ETH 16.7%. Additionally, Solana (SOL) emerged as the third most traded crypto in Spain, capturing 2.8% of the total volume. This was reported by CriptoNoticias.

In Spain, cryptocurrencies are liable for several taxes. Profits from their sale are reported under the IRPF (income tax), with rates ranging from 19% to 23%. If crypto value exceeds €700,000, they must also be included in the Wealth Tax. Additionally, if cryptocurrencies are inherited or donated, they fall under the Inheritance and Gift Tax. While crypto transactions are exempt from VAT, companies that profit from them are still subject to a 25% Corporate Tax.

Buying crypto assets is easier than ever. In Spain, a country that has bolstered its teams to align with the EU’s MiCA (Markets in Crypto-assets) regulations, you can choose from a mix of globally recognized exchanges and local favorites. Some of the top platforms include Crypto.com, Bitbase, Bit2ME, Bitnovo, Bitstamp, BitPanda, Kraken, Kucoin, and OKX.

More noteworthy insights into crypto adoption in Spain:

• There are about 304 Bitcoin ATMs in Spain, with Barcelona and Madrid having the most—66 and 52, respectively.

• Spain regularly hosts major crypto events, like the Crypto Week Madrid Summit and the upcoming European Blockchain Convention in Barcelona. These events draw global experts and key players from the community.

• Last July, the University of Seville introduced a specialized course on tokenization and decentralized finance. With 625 teaching hours and 25 ECTS credits (a standard European credit system), the program aims to prepare students to excel in digital innovation.

• In July, Kraken teamed up with Atlético de Madrid in a new partnership. As part of the deal, Kraken will sponsor the team’s jersey sleeve and work to enhance crypto education while offering exciting digital experiences for the club’s fans.

The post Trends and Developments in the Spanish Crypto Market: A Current Snapshot appeared first on The Pepes.

In our first article on crypto education in Latin America, we explored efforts in Mexico, Colombia, Argentina, and Uruguay, where local governments and private companies are leading the way through hackathons and university programs. Now, we’re turning our attention to Venezuela and Peru. Here, initiatives from organizations like Solana Allstars and the NGO Motiv are bringing crypto knowledge to previously inaccessible places. These efforts demonstrate a strong commitment to integrating decentralized economics into the region’s educational landscape.

Next on our educational journey is Venezuela, where in late March, Solana Allstars—a key initiative focused on promoting crypto education, especially in unbanked communities—held a meetup in Caracas. During the event, the team announced a countrywide tour and was pleasantly surprised by the warm reception they received. They hadn’t expected to find such a well-established crypto community in the city, which only confirms what many in the industry already know: even with the mixed signals from the authorities, Venezuelans are eager to learn more. Solana Allstars has hosted events across Venezuela, visiting cities like Maracay, Lechería, Cumaná, Guayana, Coro, Maracaibo, and El Tigre.

“When we started our journey through Venezuela, I hoped we’d reach Caracas, but I never expected to find such a vibrant community. This is just the beginning, and I’m grateful to Solana Allstars and everyone who made this possible”.

–Jesús Silva, Solana Allstars manager in Venezuela.

If you’re in Venezuela, follow this team’s updates. You can find their Instagram page here. They’ve announced many talks covering DeFi, NFTs, Decentralized Physical Infrastructure Networks (DePIN), and staking.

Now, let’s move on to the Andes, home to towering peaks like Huascarán and historic sites such as Machu Picchu. We’re talking about Peru, where Inca culture is engaging with crypto. Thanks to the NGO Motiv, over 60,000 people have been introduced to Bitcoin and decentralization. Founded in 2020 by Rich Swisher and Vali Popescu, Motiv focuses on collaborating with Indigenous community leaders to make large-scale education more accessible. The organization has made an impact in rural areas like Quebrada Verde, as well as in cities such as Tarapoto and Iquitos in the Amazon region.

Just a quick update: Remember the “My First Bitcoin” team from El Salvador? They recently held classes in the stunning Sacred Valley of Cusco, renowned for its breathtaking landscapes, Incan ruins, and vibrant Indigenous culture. You can see pictures on Motiv’s social media.

“The ideation and creation of Motiv happened when its co-founders, Rich Swisher and Vali Popescu were dispatched to a remote village high up in the Andes mountains in Peru to work with the local Kechua people to install a playground in front of their schoolhouse.  When they encountered children with tragic stories Both Swisher and Popescu discovered the village had become accustomed to losing roughly five out of 100 children each year to various medical conditions stemming from exposure to cold and infection primarily for the lack of shoes. Though this was fixable, it was not being fixed, and nobody stepped in to fix the issue that staring costing children their life which is when Swisher and Popescu created Motiv to help those in need”.

Excerpt from Motiv’s website, reflecting a harsh reality: governments often overlook rural populations.

• We recommend checking out this film on Motiv’s work in Peru, recently uploaded to YouTube.

In a podcast from July 2023, Vali Popescu mentioned:

“We chose Peru because it’s an ideal place to test how new technologies are adopted. In the Andean region, people can be wary of new tech, so we need to approach them with tailored strategies. Bitcoin allows us to show that we’re not asking for anything from them; we just want to help them understand the technology so they can be less dependent on what the state provides”.

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Our decisions, whether made with good intentions or not, carry consequences in any aspect of life. This reality is even more pronounced in the crypto sphere, where a misstep means there’s no safety net to catch us… It’s not like going to the bank and having someone swoop in to solve our problems. It may sound blunt, but a couple of truths must be grasped: firstly, nobody is destined to make mistakes – by honing our knowledge and keeping a level head, we can confidently navigate the crypto world. Secondly, if we insist on steering the ship, we can’t expect others to shoulder the responsibility for what unfolds next.

Why do I share all this with you? Because I’ve witnessed individuals who left their jobs to dive into Axie Infinity; I’ve seen people who got tangled up in trading and ended up in a real bind; there are also those in my circle who neglected to use two-factor authentication and paid a hefty price… I’m not trying to paint myself as some visionary, especially because I was among those who lost money when a cryptocurrency lending service collapsed – it wasn’t a significant amount, but it still stung. What “saved” me was that, months before the service went belly-up, I made a substantial withdrawal… some money remained, and I thought, “I’ll take it out later, what’s the worst that could happen?” (insert laughter or tears here).

“Learning is a gift. Even when pain is your teacher”.

-Maya Watson.

As you can see, I’m not afraid to be honest, as life is about continuous learning. We often take pride in our vast knowledge of one or more subjects, yet we seldom pause to consider what we still have left to learn. Considering its fast-paced evolution, this point is particularly crucial in the crypto world. If you’re a newcomer, I understand your perspective: catching up isn’t a walk in the park; let me assure you that your first couple of years will likely involve mistakes, but don’t let that discourage you. The key, especially at this stage, is to make minor missteps rather than mistakes that bring tears of blood.

Without any further delay, and for added context, here are some stories of individuals who lost cryptocurrencies and may never be able to overcome the regret.

James Howells, computer engineer

More than a decade ago, on an August afternoon in 2013, Howells was tidying up his office in Newport, a small town in Wales. As he sorted through what to keep and what to discard, James decided that one of his hard drives, containing old files, was a prime candidate for disposal. However, instead of taking out the trash that night, he went to bed… It only took a few minutes before he began to feel regretful, realizing he had never disposed of something as a hard drive.

The next morning, James’s wife rose early and decided to take out the trash. Finally, our main character came to terms with the loss of the hard drive. Two months passed, and Howells stumbled upon a news article about a twenty-nine-year-old who had invested some of his bitcoins to secure the down payment on an apartment in Norway – Remember Kristoffer Koch? -. It was then that he realized how much Bitcoin had surged.

Years ago, James used his laptop to mine BTC during the nights, until the hardware began overheating and the loud noises bothered his wife. Upon reflection, our main character concluded that there was no reason to believe Bitcoin would ever be worth much and saw his mining endeavors as a mere hobby… Consequently, he opted to store his key files on a hard drive and cease the operation.

When Howells came across the news about the Norwegian guy and realized the soaring price of Bitcoin, he hurried to get his hard drive, only to remember it was buried under tons of garbage. He visited the Newport landfills and discussed with a manager who offered some hope of finding the device, but they needed the city’s permission to conduct an inspection. Unfortunately, municipal authorities turned down multiple requests, claiming exorbitant costs of excavation, storage, and waste treatment, with no guarantee of locating the hard drive or its functionality.

Although James Howells has sought assistance from the private sector, he has not yet been able to finalize any deals to recover the hard drive. James lost a staggering 7,500 bitcoins, which, at the time of writing this article, are valued at USD 481,830,000.

Ivan Bianco (Fraternidade Crypto), streamer

Bianco is a Brazilian YouTuber who focuses on uploading content about blockchain-based games. His YouTube channel, named Fraternidade Crypto, has over 30,000 followers, and he remains active on platforms like Instagram, Post.tech, and Discord. Watching his content, one can tell Ivan enjoys what he does, but he had no way of knowing that in August 2023, he would experience a scare he’ll remember for the rest of his life. During a live YouTube stream, our main character decided to open a text file containing his passwords to access the Gala Games platform. The problem was that the file also contained the recovery phrase for his MetaMask wallet.

What happened next was akin to a Mortal Kombat fatality: one of the viewers hacked into the MetaMask wallet and stole $50,000 in MATIC from Polygon… Ivan conducted another livestream, visibly shattered, and pleaded for mercy from the thief.

There’s not much more to add besides stressing the obvious: private keys are sacred, information that should be stored securely… It later came to light that the perpetrator, upon viewing Ivan’s latest livestream, seemingly felt compassion and reached out to return a significant portion of the funds.

Noor (fictitious name): losses due to trading addiction

In 2021, The Guardian published an interesting article featuring a London-based designer who, using the pseudonym Noor, shared her distress after losing thousands of pounds in investments. She recalled the beginning of her crypto journey in 2020, coinciding with the U.S. presidential elections… Amidst the pandemic, with consumer spending at a minimum and Noor bombarded with trading platform ads on social media, she deemed it an opportune moment to invest £10,000 in BTC.

Shortly after, her £10,000 investment soared to £18,700. This triggered a persistent state of anxiety in Noor, leading her to wake up in the middle of the night to check cryptocurrency prices on her phone… Our main character began to fantasize about a future where she would achieve wealth through her investments.

However, as 2021 drew to a close, Noor began to feel that her success was fading. After initial profitable outcomes, she sold her Bitcoin and diversified into other currencies such as Ripple, as well as stocks from various companies. She revealed to the media that she spent hours watching the YouTube channel FX Evolution, hosted by an Australian trader who analyzes market trends. Eventually, many of her investments, especially Ripple, crashed, resulting in the loss of not only her initial £10,000 BTC investment but also the £8,000 in profits she had made, along with an additional £5,000.

Noor admitted that a significant part of the problem stemmed from her lack of understanding… “Although I could fluently use investment jargon, I didn’t grasp the true meanings of the terms”, she explained.

These narratives underscore the significance of education and prudence in the crypto realm. Remember: whether you’re just starting or have a solid foundation, there’s always more to learn. Can losses occur even with caution? Absolutely, but be assured, they won’t compare to what we might regret if we aren’t careful… Please always aim to stay informed and learn from your mistakes. If you happen to make substantial gains in the short term during a bullish period, you can be happy about it, but keep in mind that history doesn’t always repeat itself… Consider the future.

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