The panic caused due to USD Coins (USDC) depeg from the U.S. dollar manifested itself in a wrong order, costing traders $50,000 per Bitcoin (BTC), albeit for several minutes.

The BTC/USDC pair on Binance flash spiked to $50,000 on March 12 around 7:00 pm UTC. The reason for the impulse spike is unknown and was likely due to a fat finger trade of a large order.

The potential reason for the flash spike is likely due to thin order books for the newly launched BTC/USDC pair on Binance.The exchange listed the pair only a few hours before the impulse price surge.

According to a trader on Crypto Twitter, it is likely that a Bitcoin market order ate through the limit sell-orders on the pair up to $50,000.

The pairs trading price returned toward the market spot price of around $22,000 in minutes following the spike, suggesting it was an isolated incident. Fortunately, the futures market remained unaffected by the spot BTC/USDC pair; otherwise, it could have triggered massive short-side liquidations.

But this isnt the first time cryptocurrency exchanges have seen flash crashes and spikes. Multiple exchanges in the past had similar issues, inciting anger and refund requests from affected customers.

Related:Deribit to pay users $1.3M after Bitcoin price flash crash to $7.7K

In August 2017, a flash crash on GDAX, now called Coinbase Pro, saw Ether (ETH) prices plummet to as low as $0.1 due to a customer error. Ether was trading at around $300 elsewhere at the time.

USDCs value dropped to lows of $0.87 on March 11 after Circle, the issuer of USDC, revealed that it had $3.3 billion exposure to the defunctSilicon Valley Bank (SVB).

USDC trading pairs have been unstable on other exchanges since the SVB revelations. On March 11, the BTC/USDC pair on Kraken spiked to over $26,000 due to fears about the collapse of USDC.

At the time, USDC was trading at a 10% discount, which would have priced Bitcoin at around $22,200. However, the spike toward $26,000 indicates that panic causes serious volatility.

The fears amplified over the weekend due to uncertainty around the fate of SVB depositors. In response, the United States Treasury, Federal Reserve, and Federal Deposit Insurance Corporation decided to bail out the customers of SVB and Signature Bank but not the shareholders and other stakeholders, restoring market confidence for now.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

View post:

Bitcoin price flash spikes to $50K on Binance after USD Coin peg snaps - Cointelegraph

Key Takeaways

Only a month after halting U.S. dollar bank transfers, Binance is now being forced to cease processing British pound deposits and withdrawals as well.

Crypto companies keep struggling with their banking partners.

Global leading crypto exchange Binance will be suspendingBritish pound deposits and withdrawals in the upcoming week. The changes have already come into effect for new users, while existing users will have until May 22 before seeing the service shut down.

Paysafe, our fiat partner that provides GBP deposit and withdrawal services via bank transfers and via card to Binance users, has advised us that they will no longer be able to provide these services from May 22, 2023, a Binance spokesperson told CoinDesk.

Last month, Binance announced that it would suspend deposits and withdrawals of U.S. dollars through bank transfers. The exchange indicated back then that the suspension would only affect 0.01% of its monthly active users. This time around, it stated that the GBP change would impact less than 1% of its users. The company assured that it was working to restart both services as soon as possible.

Binances suspension of GBP and USD transfers are likely due to banking woes. According to lead Bitcoin advocate Nic Carter, the U.S. government may be trying to crack down on the crypto industry by cutting it off from the banking sectora strategy Carter termed Operation Choke Point 2.0. Carter claims that the scheme involves putting pressure on banking institutions to avoid providing their services to crypto companies on a safety and soundness basis.

Despite these headwinds, Binance made over $504 billion of spot trading volume in Februarymore than 61% of the entire market share.

Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and several other crypto assets.

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Crypto companies may soon find themselves deprived of banking services in the United States, just like online poker was during the Obama era, says Nic Carter. Operation Choke Point 2.0...

After breaking its peg over the weekend and trading as low as $0.87, Circles USDC stablecoin is now at $1 again. 1 USDC for $0.87 All eyes are on USDC...

Silicon Valley Bank, the 18th largest bank in the U.S. by total assets, was closed down by regulators today after it suffered a bank run. Biggest Bank Failure Since the...

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Binance Halts GBP Deposits and Withdrawals - Crypto Briefing

Crypto exchange Binance said it will convert $1 billion worth of Binance USD (BUSD) to bitcoin (BTC), ether (ETH), BNB coin (BNB) and other tokens to support the market.

The transaction from Binances industry fund to BUSD took 5 seconds and cost merely $1.29, Binance CEO Changpeng Zhao said in a tweet on Monday.

The move likely contributed to buying pressure. Bitcoin jumped over $22,500 in Asian hours on Monday while ether regained the $1,600 market. BNB rose over 10% to trade over $300, setting two-week highs, per CoinGecko data.

The move came as the crypto market suffered another blow in early Asian hours as U.S. regulators shut down the crypto-friendly Signature Bank, adding further stress to the market.

Early last week regulators shut down Silvergate Bank, followed by the collapse of Silicon Valley Bank on Friday night causing markets to go haywire over the weekend as investors rushed to protect their capital.

Read the original:

Binance Will Convert $1B Worth of BUSD Stablecoin to Bitcoin, Ether, BNB and Other Tokens - CoinDesk

The United States Department of Justice (DOJ) has filed an appeal against the latest decision in the case for the selling of assets between Voyager Digital and Binance.US.

On March 8, the U.S. Trustee for Region 2 made the appeal to the U.S. District Court for the Southern District of New York against the approval of Voyager Digitals Chapter 11 bankruptcy plan.

The Chapter 11 plan was confirmed only a day prior, on March 7, by U.S. bankruptcy judge Michael Wiles. This plan would have allowed the former crypto brokerage company to sell billions of dollars in assets to Binance.US in an effort to regain liquidity to pay back customers.

After Wiles told Bloomberg that he could not put the case into an indeterminate deep freeze while regulators figure out whether they believe there are problems with the transaction and plan.

He also reportedly said that through the current plan, Voyagers customers would see an estimated 73% recovery. Moreover, a poll released in a court filing on Feb. 28 revealed that 97% of Voyager customersfavorthe Binance.US deal.

Related: US lawmakers argue SEC accounting policy places crypto customers at risk

Nonetheless, the U.S. Securities and Exchange Commission (SEC) has been outspokenly against this deal. The financial regulator said the asset restructuring plan and Binance.US acquisition could breach securities law.

In a court filing from Feb. 24, the Texas State Securities Board and the Department of Banking objected to the deal with Binance.US.

If U.S. regulators successfully block this deal, Voyager can liquidate. The initial bankruptcy was filed on July 5, 2022,as the brokers attempted to restructure and return value to more than 100,000 customers.

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US trustee appeals NY Judges approval of Voyager deal with Binance.US - Cointelegraph

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Binance.US and Coinbase are two of the most popular cryptocurrency exchanges around, so which should you choose? The answer depends on what exactly you need, which crypto coins you want to trade, how much youre willing to pay for commissions and other key factors.

Coinbase and Binance.US are both major players among established cryptocurrency exchanges. In this article well refer to Binance.US the American arm of the larger Binance organization as Binance. Well compare it to Coinbase Advanced Trade, which offers much lower costs than the basic Coinbase service, though well refer to it as Coinbase.

Heres how Binance and Coinbase compare on some of the most important factors to traders.

The most significant cost youre likely to pay are your trading fees, and if youre doing a lot of it, those can certainly add up. Fortunately, its the norm for most exchanges to offer discounts based on your 30-day trading volume. However, Binance even goes one better than that.

Both Coinbase and Binance use a maker-taker pricing structure, charging based on whether you add liquidity to the market (makers) or remove liquidity from the market (takers). So trading fees generally differ not only on your volume but also the type of trade you make. However, Binance allows you to dodge the commissions on Bitcoin and Ethereum trades entirely.

Heres how each exchange breaks down on its fees. Binances commission depends on which coin youre trading: Bitcoin and Ethereum (Tier 0) or less popular coins (Tier 1).

The pricing structure below is for coins that are not Bitcoin and Ethereum.

30-day volume

Maker

Taker

Less than $10,000

0.40 percent

0.60 percent

$10,000 $50,000

0.25 percent

0.40 percent

$50,000 $100,000

0.15 percent

0.25 percent

$100,000 $1 million

0.10 percent

0.20 percent

$1 million $20 million

0.08 percent

0.18 percent

$20 million $100 million

0.05 percent

0.15 percent

$100 million $300 million

0.02 percent

0.10 percent

$300 million $500 million

0 percent

0.08 percent

$500 million and up

0 percent

0.05 percent

30-day volume

Maker

Taker

Less than $10,000

0.40 percent

0.60 percent

$10,000 $50,000

0.25 percent

0.40 percent

$50,000 $100,000

0.15 percent

0.25 percent

$100,000 $1 million

0.10 percent

0.20 percent

$1 million $15 million

0.08 percent

0.18 percent

$15 million $75 million

0.06 percent

0.16 percent

$75 million $250 million

0.03 percent

0.12 percent

$250 million $400 million

0 percent

0.08 percent

$400 million and up

0 percent

0.05 percent

The results are neck and neck: For coins that arent Bitcoin or Ethereum, Binance and Coinbase have headline commissions that are nearly the same amount, with the exception of a few pockets in the pricing structure. For 30-day volume up to $15 million, youre paying the same headline rate. But theres a wrinkle: Binance will cut your fees a further 25 percent if you use BNB, its own in-house coin, to pay for trading fees.

Story continues

For example, imagine youve placed $25,000 in trades in the prior 30 days and you want to place another $10,000 trade. At Coinbase youd pay 0.25 or 0.40 percent as a maker or taker, respectively, for a total cost of $25 or $40. In comparison, youd pay the same amount at Binance for that trade, unless you paid with BNB, cutting the fees to $18.75 and $30, respectively.

Advantage: Binance offers a clear advantage on whats likely to be the largest group of ongoing fees youll pay. In addition to this little extra discount, Binance allows you to trade the two biggest-volume coins for free: Bitcoin and Ethereum. Given their predominance for traders, it seems like Binance would be the clear choice.

The straight numbers look to be in Coinbases favor in terms of how many total kinds of coins are offered by each exchange. At our last count, Coinbase gives traders access to 253 coins, while Binance offers access to 153, or about 60 percent as many as its rival.

But all that choice is like a buffet: If you dont want to trade a specific coin, it doesnt matter if its there or not. So how do these exchanges compare on the top 12 coins by market capitalization? A comparison there might tease out some differences. On that basis, Binance is slightly better, offering all 12 the top coins, compared to Coinbases 10. Both offer Bitcoin, of course, and the difference is that Binance offers BNB, the coin powering Binances own ecosystem, and XRP.

Advantage: Coinbase gets the edge here.

Over the last year, Binance has made real improvements on the number of coins available in its staking rewards programs, really outdistanced its rival Coinbase.

Staking rewards provide crypto owners a chance to receive income for supporting the token as part of the verification process. Typically, an exchange simply deposits your income, net of any fees, into your account. Coinbase and Binance take a commission on your rewards.

Coinbase allows staking on six coins, including Ethereum, one of the largest coins, as well as Solana and Cardano. It also allows other rewards, via DeFi (not available in the U.S.), on a handful of other coins, as well as what it calls cloud staking on more than 15 coins. Cloud staking is a somewhat different and more advanced process, however.

Binance supports staking on 27 coins, including Ethereum, Cardano and Solana.

As for how large those staking rewards are? A spot check shows Binance offering consistently higher rewards on the handful of coins that they have in common.

Advantage: Binance beats out Coinbase on the number of coins supported in the core staking rewards program, and offers higher rewards on those that they have in common. Naturally, for those who hold coins supported on one platform but not the other, a specific exchange may end up being better for them.

Neither Coinbase nor Binance charges deposit or withdrawal fees for ACH deposits in U.S. dollars. On wire transfers, Binance does a bit better, with no charge for wire deposits and a $15 withdrawal fee for domestic wires. For its part, Coinbase charges $10 for wire deposits into its accounts and $25 for wire withdrawals.

Advantage: Binance offers a better fee structure here, both for ACH fees and even wire fees. However, if you plan to use wires frequently, Binance would be the clearly better outfit.

Customer support at crypto exchanges seems to be mostly an afterthought, though it has improved over the last year. Coinbase has grown its efforts here recently, adding 24/7 phone and chat support, much-needed features to prior options that included only email and a support ticket. Plus, if you see suspicious activity, you can call customer support to lock your account (though it raises the question of why this feature is needed, when traditional stock brokers seem to have no such issues.)

Binance offers support tickets and recently added 24/7 online chat, which perhaps is part of the price you pay for its very low trading costs.

Advantage: With a variety of support options, Coinbase looks like the clear winner here.

On whats probably the single most important feature of an exchange cost Binance gets the win. Low trading costs played into Binance being named the best crypto exchange by Bankrate.

However, on the finer details, such as available coins, Coinbase wins outright or has a small advantage. In a comparison of Coinbase to Binance then, the true winner may be the exchange that fits your needs best whether thats low trading fees, widest selection or better support.

See more here:

Binance vs. Coinbase: Which crypto exchange is right for you? - Yahoo Finance

By Geoffrey Smith

Investing.com -- Bitcoin hit a nine-month high and cryptocurrencies rose across the board on Tuesday as concerns about the reserves held by digital platforms at troubled U.S. banks eased.

Prices were also supported by signs that Binance was following through on its declared intention to convert its $970 billion 'industry recovery fund' assets into digital assets, a substantial shift in real demand for digital assets at a time when market liquidity has dried up badly, making outsize moves easier.

By 11: 00 ET (15:00 GMT), Bitcoin was up 16% at $26,084, while Ethereum was up 7.2% at $1,762.50.

In the stablecoin universe, USD Coin regained its peg to the dollar as uncertainty over the fate of its reserves held on deposit at Silicon Valley Bank cleared. The Federal Reserve, which took over SVB late last week after a run by depositors, said on Sunday it would guarantee all deposits both at SVB and at Signature, another crypto-friendly bank, in order to stop wider contagion among traditional banks.

"DeFi surviving its biggest existential crisis to date thanks to a timely bailout by the Fed was not something any of us were expecting," Canada-based academic John Paul Koning said via Twitter.

At the same time, however, signs of constraints on the crypto system continued to multiply, as regulators around the world moved to restrict the interaction between traditional and digital finance. Binance, the world's largest crypto exchange, was forced to suspend sterling payments into and out of its network on Tuesday after payments company Safepay said it has stopped supporting sterling-based transfers. Binance, which has no license to operate in the U.K., has been warned in the past by the Financial Conduct Authority not to market its services there.

That came a day after Coinbase (NASDAQ:COIN) said it would halt trading in Binance USD, a Binance-listed native token, after U.S. regulators ordered its sponsor, Paxos, to stop minting what they claim are unregistered securities.

Story continues

In the U.S., the closure of the SigNet payments network operated by Signature is being particularly sorely missed. This had operated as the main on-off ramp between crypto and fiat currency in the U.S. before Signature was closed, leaving few viable alternatives.

One U.S. institution that is still offering services to crypto investors is San Francisco-based Mercury, which has stepped up its marketing since federal authorities took over SVB and Signature. Mercury, a fintech startup, uses its relationships with two federally-insured institutions Evolve Bank and Trust and Choice Financial Group - to offer guarantees on deposits of up to $3M, 12 times the regulatory threshold.

Mercury CEO Immad Akhund said via Twitter at the weekend that We have already onboarded 2x more customers today than we do on a normal weekday!

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Bitcoin hits 9-month high on relief trades; Binance still under pressure - Yahoo Finance

Since the bear market began last summer after crypto markets crashed alongside global financial markets, many crypto investors have found a way to generate profits despite the obvious disadvantages in the crypto market. A switch from short-term cryptocurrency investing to long-term cryptocurrency investing has proved largely successful in the current climate.

It could continue to generate positive results long into the bear market. Unlike short-term investing, long-term cryptocurrency investing allows crypto assets to vest over a long period, accumulating profits and staying safe from the harsh realities of the bear market. All these reasons make long-term cryptocurrency investing a go-to strategy in times like this.

The first quarter of 2023 is shaping up nicely, thanks to several brief spells of bullish activity within the crypto market, providing a unique opportunity for crypto investors to generate massive returns early into the new year. Long-term cryptocurrency investing in highly promising cryptocurrencies is the current wave in the industry, and this piece suggests three cryptos that every crypto investor should consider. Heres what makes Binance Coin (BNB), Polygon (MATIC) and Big Eyes Coin (BIG) fantastic long-term cryptocurrency investment options in the ongoing bear market.

Popular crypto exchange platform Binances native cryptocurrency, Binance Coin (BNB), is one of the many cryptocurrencies pumping within the crypto market thanks to the recent spell of bullish activity within the cryptocurrency industry. The token is notable within the cryptocurrency industry for low gas fees, trading fee discounts, and fast confirmation and processing times. It also plays an integral role in the Binance ecosystem, facilitating crypto operations such as network governance, user interaction and staking.

Binance is the cryptocurrency industrys largest centralized exchange platform and possesses the largest crypto stock. Its native cryptocurrency, Binance Coin (BNB), is listed on top crypto platforms within the industry, such as Binance, Coinbase and Huobii Global.

MATIC, the native cryptocurrency of Ethereum (ETH) scaling and infrastructure development platform, Polygon, is attracting massive interest amongst crypto investors within the industry after experiencing a huge pump within the crypto market thanks to the recent spell of bullish activity. The token is a highly attractive cryptocurrency with fast transaction speeds and confirmation times that make it ideal for crypto operations within the industry. MATIC plays a huge role in the Polygon ecosystem, where it provides utility and facilitates crypto operations, such as network governance, user interaction and payment fees.

The MATIC token is a top twenty cryptocurrency by market cap and has stock listed on top crypto platforms within the industry, such as Binance, Coinbase and Huobi Global.

Ethereum (ETH) based meme coin, Big Eyes Coin (BIG), has become the subject of interest within the cryptocurrency industry after surpassing $30 Million in presale. The token joins an elite class within the cryptocurrency industry that has achieved this feat and is now an ideal option for long-term cryptocurrency investing that crypto investors ought to consider. Big Eyes Coin (BIG) boasts several attractive features, such as a massive supply (one billion tokens) and gas fee-free transactions, all of which make the token ideal for all crypto operations.

Big Eyes Coin (BIG) is currently on presale and is a low-cost option that crypto investors should consider in the current climate. For more information on the token, click any of the following links.

For More Information On Big Eyes Coin (BIG), Click The Links Below:

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

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Binance Coin, Polygon and Big Eyes Coin - Three Long-Term ... - NewsWatch

Gamza Khanzadaev

Black-yellow crypto giant becomes second biggest holder of LUSD issuer's native token

Read U.TODAY on

Google News

The price of Liquity, LQTY, has risen by more than 40% since the beginning of the week, reaching $3.37 per token, its highest value in 12 months. The price action has made LQTY one of the most profitable crypto assets of recent days among the top 200 by market capitalization. One of the reasons for the renaissance of both Liquity and its native token, which havebeen off the radar for two years, could be the crisis in the stablecoin sector, when many big players turned their attention to the protocol.

Among those big shots is global leading crypto exchange Binance, which has already managed to become the second largest holder of LQTY. As it turns out, the black-and-yellow exchange has managed to stack more than 11.5 million tokens in its wallets over the past four days, which equates to 11.5% of the total LQTY supply.

As a reminder, Liquity is a decentralized borrowing protocol built on Ethereum (ETH) that uses its own stablecoin pegged to the dollar, LUSD. Users can receive interest-free loans in LUSD in exchange for collateral in ETH. LQTY, on the other hand, serves the function of paying commissions to the protocol and rewarding its contributors.

After first BUSD, then USDC, experienced problems and their position in the sector faltered, many began to seek a safe haven in LUSD, causing the stablecoin's capitalization to rise by 38.5% since the start of the year.

Read more from the original source:

Ethereum's Liquity (LQTY) up 40% as Binance's Multimillion Holdings Unveiled - U.Today

The gambling industry is rapidly growing on a global scale. Using betting apps, you may participate in a variety of betting games and check the odds on a variety of live sports events occurring all over the world. Gambling and betting have long been a part of British culture, especially in relation to horse racing. Horse racing is one of the countrys oldest sports and has an illustrious past. There, it is the second most favoured spectator sport.

In accordance with research done by the British Horseracing Authority, the core racing business accounts for $1.05 billion of the $3.39 billion in both direct and indirect economic activity generated by horse racing in the UK. The Cheltenham Festival and Royal Ascot are significant occasions in the social and sporting schedules of both Great Britain and the rest of the world.

Today well talk about the best sports betting app of the 21st century. ONWIN is a new online gambling and betting platform that aims to make you a tonne of cash in many ways. ONWIN is the name of this newest betting website. You can add money to your ONWIN account using cryptocurrency when you first sign up as well.

The two cryptos that we will be talking about today are Litecoin and Binance Coin, giving a brief overview of the coin. This means more inclusivity in the betting world because loads of crypto enthusiasts and users tend to have loads of cryptocurrencies stored. Holding onto crypto isnt always the best idea because of its volatility, so betting is a good alternative.

As ONWIN has excellent odds for El Clasico, this is where they step in and profit. Because of the enormous popularity of this sport in Brazil, MMA, and UFC fights will soon be available on the website.

More than 2,500 betting providers are supported throughout Europe by the ONWIN team, which has built respected brands over the years in the online gaming and betting sectors. As a group that supports a positive betting attitude, they strive to provide their customers with the best gaming experience imaginable by creating unique, cutting-edge, and inventive concepts. They engage in as much industry competition as they can while providing top-notch customer service to achieve this.

The digital economy currently has Binance Coin as a major player. Given that both its cryptocurrency (BNB) and stablecoin (BUSD) are now ranked among the top ten in terms of market capitalisation, Binance is likely the best company for Elon Musk to work with if he wants to integrate cryptocurrencies into Twitter. To incorporate cryptocurrencies into more facets of our daily lives, Binance is also working on a wide range of initiatives at the moment.

Binance has done great things over the years, especially when receiving endorsements from well-known people like Cristiano Ronaldo. As well as sponsoring significant occasions like The Weeknds Tour and the Primavera Festival in Spain. The Binance Team is also working with international law enforcement to fight digital asset exploitation among the general public.

For more information on ONWIN, click below:

Website: Onwin.com

Telegram: https://t.me/on_win

Twitter: https://twitter.com/_OnWin_

WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost

AVISO IMPORTANTE: La inversin en criptoactivos no est regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido

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Inclusivity: ONWIN integrates depositing in Crypto on their website with Binance Coin - Euro Weekly News

NFT domains are unique domain names that are stored on a blockchain as non-fungible tokens (NFTs). In this article, we will explore what NFT domains are, how they work, and how to create one.

NFT domains are a new type of domain name that is stored on a blockchain, just like other NFTs. They are unique domain names that are created and managed using smart contracts on a blockchain. The smart contract ensures that the domain owner has complete control over the domain and can transfer ownership or sell it just like any other NFT.

Unlike traditional domain names, NFT domains are unique and cannot be replicated. They are stored on a blockchain, which makes them immutable and resistant to hacking or cyber-attacks. Also, the ownership of the domain is tied to the owners blockchain wallet, which ensures that the owner has complete control over the domain.

Creating an NFT domain is a straightforward process. However, it requires some knowledge of blockchain technology and a basic understanding of smart contracts. Here are the steps involved in creating an NFT domain:

The first step in creating an NFT domain is to choose a unique domain name. The domain name should be something that is easy to remember, easy to spell, and relevant to your business or brand.

Now that you have a domain name, the next step is to get a smart contract. The smart contract will define the rules for the domain, such as the ownership, transferability, and pricing. You can use a smart contract platform like Ethereum to create your smart contract.

Once the smart contract is created, the next step is to mint the NFT domain. This involves creating the NFT token and linking it to the smart contract. You can use a blockchain platform like OpenSea or Rarible to mint your NFT domain.

Once the NFT domain is minted, the final step is to list it for sale. You can list your NFT domain on a marketplace like OpenSea or Rarible and set the price. Once someone purchases your NFT domain, the ownership will be transferred to their blockchain wallet.

NFT domains offer several benefits over traditional domain names. Here are some of the key benefits of NFT domains:

NFT domains are unique and cannot be replicated, making them more valuable and secure than traditional domain names.

NFT domains are owned and controlled by the owners blockchain wallet, which ensures complete control and ownership over the domain.

NFT domains can be transferred or sold just like any other NFT, making them a valuable asset for investors and businesses.

NFT domains can be a lucrative investment opportunity for individuals and businesses looking to invest in the blockchain industry.

Conclusion

NFT domains are a new innovation in the world of blockchain technology and offer several benefits over traditional domain names. Creating an NFT domain requires some knowledge of blockchain technology and a basic understanding of smart contracts. However, with the right tools and platforms, anyone can create an NFT domain and own a valuable asset. As the world of blockchain technology continues to evolve, its becoming clear that NFT domains are the way of the future. By creating an NFT domain, you can secure a unique and valuable digital asset that is resistant to hacking and cyber-attacks.

However, its important to note that creating an NFT domain requires a basic understanding of blockchain technology and smart contracts.

In addition, its important to keep in mind that while NFT domains offer several benefits over traditional domain names, they are still a relatively new and untested concept. As with any investment opportunity, its essential to do your due diligence and carefully consider the risks and potential rewards before investing in an NFT domain.

Overall, NFT domains represent an exciting new development in the world of blockchain technology and offer a unique opportunity for businesses and investors looking to stay ahead of the curve. With the right tools and knowledge, anyone can create an NFT domain and own a valuable and unique digital asset.

An NFT domain is a unique digital asset that is created on a blockchain network using smart contracts. It represents a unique and secure domain name that cannot be duplicated or hacked.

Unlike traditional domain names, which can be purchased and registered through a domain registrar, NFT domains are created using smart contracts on a blockchain network. They are also unique digital assets that can be bought and sold like any other cryptocurrency.

Yes, you can use an NFT domain to host a website just like a traditional domain name. However, it's important to note that the process may be slightly different, and you may need to work with a web developer who is familiar with smart contracts.

The cost of creating an NFT domain can vary depending on a number of factors, including the blockchain network you use and the complexity of the smart contract. However, you can expect to pay a fee to create and register your NFT domain.

Continued here:

.NFT Domain Explained: What is an NFT Domain? - NFTgators