MetaMask is a browser extension that you can download and install on the likes of Google Chrome, Mozilla Firefox, Microsoft Edge, and Brave.
The wallet allows you to manage your crypto assets, as well as assisting you in connecting to decentralized apps (or DApps) which are rapidly increasing in popularity and include the likes UniSwap, PancakeSwap, Maker, and Compound.Finance to name a few.
What is MetaMask?
MetaMask is a cryptocurrency wallet that is predominately Ethereum based, although can also be connected to the likes of the Binance Smart Chain network. The wallet is most commonly used as a browser extension, with over 4 million downloads and provides users with a gateway to using blockchain apps. However, MetaMask mobile is also available for Android or iPhone where users can sync the app with the account on your desktop in a matter of seconds.
The crypto wallet, launched in 2016 and keeps your data and cryptocurrency secure. You can connect your Metamask to hardware wallets such as a Ledger or Trezor to enhance the security of your wallet.
MetaMask equips you with everything you need to manage your digital assets including a key vault, secure login, token wallet, and token exchange.
With the ability to connect to both Ethereum and Binance Smart Chain based DApps, users can use their tokens to trade on decentralized exchanges, play games, and spend in gambling applications. Its also a great entry point for DEFI, providing users with a way to interact with decentralized finance applications such as the likes of UniSwap, PancakeSwap, Compound, or Zapper.Fi.
MetaMask Private Keys
MetaMask requires that you store your seed phrase or private keys in a safe place. It is the only way to recover your funds should your device crash or your browser reset. Its recommended that you write this down and stored offline. The most common method is to write your 12-word phrase on a piece of paper and store it safely in a place where only you have access. Its safety is important as if you lose your seed phrase, MetaMask cannot help you to recover your wallet.
Also never share your seed phrase or your private key to anyone, anyone will access will have complete control over your funds.
What is a Web3 Wallet?
You’ll often hear MetaMask described as a Web3 wallet. This is because Metamask enables you to interact with decentralized apps (dApps). In fact, MetaMask is also the most widely supported wallet across the larger DeFi ecosystem.
Web3 Wallets are the software that allows you to interact with Web 3.0, a third generation of the internet. Web 3.0 applications are mostly referred to as decentralized applications or dApps and these are often powered by the blockchain. DApps that exist on the blockchain will often need the user’s tokens to use its features, such as game tokens, trade, stake, earn interest, etc. By using MetaMask you are able to use these dApps while keeping control of your tokens.
Is MetaMask Safe?
MetaMask is only as safe as your own ability to keep your seed phrase or private keys secure. The wallet is also deemed as a “hot” wallet as it connects to the internet, therefore there are also risks.
It is recommended that you only keep small amounts of assets within the wallet (longer-term) or one of the safest ways to use MetaMask is by connecting it to a hardware device, such as a Ledger or a Trezor. In this way, MetaMask is working as a middle man and your funds are not exposed.
Can MetaMask Hold Bitcoin BTC?
Metamask is predominately, for ERC20 tokens, although also supports BEP20 tokens when connected to the Binance Smart Chain. If you send non supported tokens to MetaMask you will lose your crypto. However, you can wrap your BTC, and each WBTC is backed 1:1 with Bitcoin, enabling you to track the Bitcoin price.
MetaMask Swaps Tutorial
MetaMask users can not only store but also compare and swap tokens directly within their wallets. The token swaps feature fetches quotes across multiple decentralized liquidity sources to ensure users the best available prices, with the lowest network fees.
The feature is initially available to users of the MetaMask extension on the Firefox browser, with plans to be rolled out to other browsers and mobile app.
Up to now, MetaMask users would need to go to the website of a specific decentralized exchange or exchange aggregator, sign in, approve each token on each dex, costing money in gas, and then run the swap.
However, now MetaMask has collaborated with ConsenSys to build Swaps: a feature that enables any Web3 or DeFi user to easily access the tokens they need for the sites they use.
Connect MetaMask to Binance Smart Chain (BSC)
Binance Smart Chain (BSC) mainnet was launched on the 1st September 2020 and allows developers to build dApps. BSC relies on a system of 21 validators with a Proof of Staked Authority (PoSA) consensus.
New Defi platforms are already taking advantage of the BSC and their fast transactions and low fees. PancakeSwap and BakerySwap have already gained traction, but to connect to these platforms you will need to use the likes of MetaMask or Trust Wallet.
In this Blockfolio review for 2021, I’ll cover everything about the popular cryptocurrency tracking mobile app. Including who they are, the features, and supported assets.
What is Blockfolio?
Blockfolio who launched in 2014, is a well-known place where over 6 million people currently track their cryptocurrency portfolios. This is all done via a mobile app which is available from the App Store or Google Play.
Users can track the price of various cryptos and the performance of their holdings whilst getting the latest news and team updates.
Since their acquisition with FTX, Blockfolio has also added trading to their app. Where you can trade crypto and tokenized stocks with zero fees. Not only that, but you’ll earn a free coin for every trade over $10.
Blockfolio Acquired by FTX
In August 2020, Blockfolio announced that they were joining forces with FTX as part of a $150 million deal. At the time they also hinted at launching a retail trading experience, powered by FTX. True to their word, in January 2021, Blockfolio released an update to including “Trading” giving users the ability to trade crypto and stocks at zero fees.
Who are FTX?
FTX launched in 2019 and are a Hong Kong-based cryptocurrency derivatives exchange which they state was built by traders, for traders. FTX users can trade in a wide variety of markets which include spot, futures, stocks, leveraged tokens, volatility, prediction and FIAT.
Plus they have their own FTT exchange token. You receive lower trading fees for holding FTT on FTX. Plus you can use FTT as collateral for all futures on FTX, meaning you can hold your capital on FTX in FTT and still trade with it.
Blockfolio Supported Assets
Blockfolio currently supports over 10,000 cryptocurrencies and blockchain assets with over 500 different exchanges with the list being continually added to, meaning that you’ll always be getting the latest prices and market data.
Track and Manage your Portfolio
The “Track” tab allows users to organise their holdings and create watch lists across an unlimited number of portfolios. Plus you can stay up to date with exchange and global average pricing with support for over 10,000 coins.
With Blockfolio, you can add your holdings manually creating buy, sell and transfer transactions. Or add Exchange connections, where you can automatically sync balances and transactions.
Trade Crypto & Stocks with Blockfolio
Users of Blockfolio can use the Trade tab, to trade the likes of cryptocurrencies and stocks at zero fees. Not only that, but you’ll earn a free coin for every trade over $10.
The Trade functionality (powered by FTX) allows both US and international users to trade on Blockfolio. Simply deposit your funds with FIAT currencies such as USD, BRL, AUD and EUR via Wire or Bank Transfer or via Credit Card. Or deposit your crypto via a QR code or crypto address to get started.
Users can then trade between cryptocurrencies including Bitcoin, Ethereum and XRP and tokenised stocks like Airbnb, Apple and Tesla.
To enable trading within the Blockfolio app, users will need to register and complete an element of KYC. This includes entering their personal details such as email and physical address and uploading photo ID.
Get Latest Signals & News
The “News” tab brings you the latest news from a variety of publishers which you can pick and choose from.
You’ll also automatically receive the latest real-time Blockfolio Signal updates. Blockfolio Signal is a unique communications platform built just for token teams to connect and engage with their communities.
Over 500 team leaders actively broadcast on Signal. Including leaders from DASH, Ethereum Classic, Kyber Network, NEO, NEM, Maker, 0x, ZCash, and many more.
If you’re already signed up to Coinbase Exchange, you may be interested to hear you can also earn free crypto with their Coinbase Earn feature. Coinbase Earn provides its users with an incentive to earn free crypto while learning about crypto, in a simple and engaging way.
In the past, you could have earned up to $50 of Stellar XLM tokens, but unfortunately this offer is no longer available. However as the list of tokens available on Coinbase continues to grow, so does the number of tokens available on Coinbase Earn.
Unfortunately, there is a limit to the number of users that are able to earn free crypto and sometimes you may have to join a waiting list. So, make sure you’re sign-up to Coinbase and watch out for their email notifications on new cryptos available on Coinbase Earn.
Coinbase’s main aim is to make blockchain technology more accessible, both in the sense of making cryptocurrencies easier to obtain and easier to understand. To make this possible they have created Coinbase Earn.
This is another great opportunity for those that are looking to diversify their crypto portfolio, get a better understanding of cryptocurrencies or looking to get into alt-coins without spending any money.
How do I Start Earning Free Crypto?
Coinbase has created educational videos to teach you about different cryptocurrencies. After watching each video you’ll receive a simple quiz testing what you’ve learnt. You’ll then receive crypto in your Coinbase wallet for every quiz you complete.
For example, with Stellar Lumens, you can earn up to $10 of XLM by watching 2-minute beginner videos about Stellar and completing the quizzes.
This is only available for a few limited amounts of cryptocurrencies at the moment which goes quickly. However, over time they plan to add more educational content, as well as the ability to earn other cryptocurrencies.
What can I do with my Free Crypto?
What you do with your free crypto is completely up to you. Whether it be exchanged on the likes of Binance, sold for fiat or HODL. Either way it’s a great way to diversify your portfolio or for newbies to get into alt-coins or crypto.
If you are new to Coinbase, you can use this link to earn $10 of Bitcoin when you deposit $100.
How to Earn $50 Free XLM with Coinbase Earn
Once you are signed in, simply choose the crypto that you’d like to learn and earn! If you want, you can watch the instruction videos, however, I have saved you some time and provided the answers below. Once you have answered the question, click Next and (if you’ve got the answer correct) you’ve earned your first FREE $2.00 of XLM! This can be done a total of 5 times and by completing the series of videos, you can earn a total of $10.00 FREE XLM.
TIP: If you want to get through the videos quickly you can speed up the videos up to 2x speed.
Coinbase Earn will also provide a referral link that will earn you $10 and can be shared 4 times. Earning you a total of $40 of free XLM. This link can be shared with friends, family, or followers. Once they complete 1 video, you will receive your free crypto!
If you’ve ever sent a transaction on the Ethereum blockchain, you’ll be familiar with the concept of paying gas. But with the rise of popularity on the Ethereum blockchain these prices are rising out of control. So, if you’re tired of wasting money on gas and would rather keep your Ethereum for trading or to HODL, here are some ways that you can save money on Ethereum gas fees.
What is ETH Gas?
Gas is a payment made to the miners that cover the computing of your transaction. When you send a transaction on the Ethereum network you have to pay for this gas. You’ll find an increase in gas fees, and therefore higher prices when the network is more congested.
The more complex the transaction (for example if your exchanging and providing liquidity) the higher the gas fees will be. Plus if you’re using the Ethereum network to send transactions at the time this is published you’ll be well aware of how congested it currently is, due to the massive costs to do anything on the network.
What is Gwei?
Gwei is a unit of Ether which stands for gigawei, or 1,000,000,000 Wei. Wei is the smallest unit or the base unit of Ether. Think of Wei as what cents are to the US dollar or satoshis are to Bitcoin.
Why are ETH Gas Fees so High?
Supply and demand ultimately determines the cost of Gas. Therefore, if demand-side chooses to get their transactions included in a block sooner, then they need to pay a higher price for their transactions per unit of Gas. In the case of an increase in network activity, the demand for transactions increases; this can lead to a spike in transaction fees.
There are limits to the transaction fees with only a certain amount of Gas being able to be be paid per block. However, the miners can slowly raise these limits and increase the Gas limit by small amounts. It is thought that some of the cause to the rise in fees is down to the US-dollar backed stablecoin Tether and the rise in popularity in decentralized exchanges and dapps.
How to Reduce Gas Fees
Below are just some ways that you can help to reduce the Ethereum Gas fees that you pay.
ETH Gas Station
You can certainly save yourself on fees when you edit your gas with the help of Eth Gas Station. When you’re sending transactions from the likes of Metamask, the gas fee will automatically be prefilled for you.
Many people use the default gas price from their wallet when they make their transaction and this is generally okay. However, sometimes it makes sense to pay more if you want the transaction mined quickly or you may want to save some money and offer a cheap gas price, especially if you don’t care how quickly it is mined.
So, instead of just clicking on the confirm button, it’s worth just putting in an extra step, by clicking onto edit and advanced first and checking the cost against Eth Gas Station.
With the price of gas at the user’s control, it is tempting to go for cheaper or slower speeds. But set the limit too low and your transaction can not be executed because it runs out of gas. Then you’ll have to resubmit it, costing you more in gas fees. While offering a high gas price can speed up confirmation a bit, there is a limit to the acceleration. Therefore overspending won’t necessarily help you out either. So it’s important to get the price right.
Eth Gas Station will tell you real-time gas fees, and recommend gas fees in GWEI for fast, standard or safe low transactions. As well as the time it’ll take to complete by choosing these different speeds.
ETH Gas Speeds
Safe Low – This is a gas price that is intended to be both cheap and successful. It may take a bit longer to get a confirmation with this price but it should be safe to use. This price is determined by the lowest price where at least 5% of the network hash power will accept it. And It requires that at least 50 transactions have been mined in the last 24 hours at this price.
Average – This is the price accepted by top miners who account for at least 50% of the blocks mined. This is a safe and prompt transaction. And this is the price that usually reflects the wallet defaults.
Fastest – This is the lowest gas price that is accepted by all top miners (estimated over the last two days). Therefore, transactions with this gas price should be accepted by all the top pools. Paying more than this price is unlikely to help.
They do also have other information on their site such as leaderboards and charts. But to be honest the majority of users will come here to check the price of gas and then leave the web page.
So, once you’ve checked your gas fees and chosen the required speed for your transaction, you can then edit this in Metamask. Which should in turn save you money if you’re willing to accept a slower transaction time (for example).
ETH Gas Tokens
You can use Gas tokens to save yourself on fees when times are congested and prices are high. Gas Tokens can help users save on fees by storing cheap gas in periods of inactivity, using a clever contract trick that refunds gas when freeing storage. The likes of decentralised exchange aggregator 1inch use a gas token called Chi Gas Token.
The idea is similar to the GasToken token concept but it has some improvements. Chi is pegged to the Ethereum network’s gas price. When the gas price is low, the Chi price is also low, and the opposite. Just like GasToken, Chi is tokenized gas on the Ethereum network.
The only difference is that Chi is used on 1inch and Curve.fi, while the GasToken is used across the entire Ethereum network.
Crypto Wallets with Zero Fees
A great way to save on fees is by using wallets with zero gas fees. Previously these wallets included the likes of Digifox and Argent who were covering gas transactions costs themselves. However, unfortunately due to increased gas fees, it no longer became feasible to continue with this.
Blockfolio, the popular portfolio tracking app has released an update to including “Trading”. Giving users the ability to trade the likes of cryptocurrencies and stocks at zero fees. Not only that, but you’ll earn a free coin for every trade over $10.
The Trade functionality (powered by FTX) allows both US and international users to trade on Blockfolio. Users can trade between cryptocurrencies including Bitcoin, Ethereum and XRP and tokenised stocks like Airbnb, Apple and Tesla.
The Argent wallet does still have a couple of features that are still free, including their Security, such as adding a Guardian or changing your daily limit and it’s free for their Dai Savings Rate which is still subsidised by Maker.
Argent is an Ethereum based mobile wallet where you can store, send, and save; borrow, earn interest, and invest. With the ability to enjoy decentralized apps in just a few taps including the likes of Aave, PoolTogether, Compound Finance,and Uniswap.
With the Digifox you can get free transactions when referring to friends or family to their wallet.
Digifox, is an all-in-one finance application created by popular YouTuber Nicholas Merten (AKA DataDash). With DigiFox you can buy and swap crypto and send your money globally, at fees as low as $0.15. Plus, they have an “Earn” feature, using integrated platforms such as Celsius and Compound. This enables you to earn interest of between 5-9%, which is far better than any standard savings account.
It’s worth checking out the Dharma smart wallet which is currently still claiming zero gas fees when using their smart wallet.
Dharma is an open-source lending/savings account built on Compound. The Dharma Smart Wallet is a non-custodial wallet that automatically lends out any DAI or USDC it receives on Compound generating a variable interest rate.
Dapper ETH Wallet
I believe that the Dapper ETH wallet (available on GooglePlay for androids) also provide a few free transactions per week. Plus includes the ability to buy gas “packages”. Although this isn’t a wallet Ive personally used.
The Dapper wallet is an Ethereum smart wallet created Dapper Labs the creators of CryptoKitties. Allowing you to send, store, and manage your blockchain-based assets. Dapper Android also lets you play your favourite blockchain games through their easy-to-use built-in browser.
In this Binance Earn review and tutorial, I show you around the crypto savings account by the popular cryptocurrency exchange Binance, offering high returns on your crypto assets.
What is Binance Earn?
Binance Earn is a complete suite of products that are available for Binance customers. Essentially, it acts as your crypto savings account where you’ll find a great variety of options for earning passive income with your crypto holdings. There’s a whole host of savings options available depending on your desired level of risk, term, and returns.
Plus you can stake your coins, lend your funds for interest, or safely deposit them into a DEFI service through Binance. To start using any of the Binance Earn solutions you can transfer your funds from your exchange spot wallet across to Binance Earn.
The different savings options available are split between Flexible Terms, Fixed Terms and High Risk Products.
Who is Binance?
Binance.com is an online exchange platform where you buy and sell cryptocurrencies using digital assets such as Bitcoin and Ethereum founded in China by Changpeng Zhao in 2017.
The Binance exchange is well known for its low trading fees, a wide range of available cryptocurrency pairings, and high liquidity. However, Binance has more recently become more than just an exchange and now offers a wide range of financial services to their customers.
Binance also has its own Binance Coin (BNB). This is an Ethereum-based token that allows you to receive discounts on the services of the Binance platform. Users of Binance can receive a 25% discount on trading fees, by paying with Binance’s BNB token.
Within Binance Earn the flexible options give users the opportunity to earn interest without having to lock in their fund for set periods of time. The interest rates will be lower with these options . However, will be lower risk and the ability to withdraw at any time.
Flexible Savings offers Binance users the ability to deposit crypto and gain interest on a daily basis. This option is great for Crypto that may be just sat idle in your spot wallet otherwise.
With Flexible Savings there are currently 56 savings products. Users can currently earn up to 10% interest on the likes of 1INCH, BUSD, BAL, BTC, ETH and USDT.
Plus you can also auto transfer which will automatically use your available spot balance to purchase flexible savings.
With Launchpool you can deposit the likes of BNB, BTC, and other cryptocurrencies to get a share of a new token that’s being launched on Binance.
Currently there are rates as high as 68.64%. You can view information such as the total rewards, the farming period and available tokens to stake for each event.
LaunchPool is deemed as flexible terms. This is because although you are locking these tokens you can still redeem them at any point during the event.
The BNB Vault is a BNB yield aggregator that combines Flexible Savings, BNB DeFi Staking and Launchpool to give you the best APY returns.
When you stake your BNB tokens, you will receive BNB Vault assets . These rewards will be sent to your spot wallet. With BNB Vault you have flexible terms and can unstake your funds.
Fixed Terms essentially means you’ll be depositing your funds for a specific “Fixed” period and on a regular basis. You’ll find that the interest rates are higher than Flexible Terms.
With Fixed savings, you deposit your crypto for fixed terms which are between 7 to 90 days. These rates will increase the longer you deposit your crypto for.
You can currently deposit the likes of USDT, BUSD and USDC. These deposits are currently at rates of up to 7% for a 90-day term. During this term, your crypto is locked in.
With Locked Staking users can gain rewards through staking assets on the blockchain. There are around 30 staking products available which include the likes of staking tokens such as; 1INCH, SUSHI, YFI, ATOM, EOS and DASH with highest rate currently at 30%.
These products also come with minimum locked amounts too and vary in term lengths.
Activities are special events with limited supply and higher demand. Because they are generally at a capped supply, you sometimes need to be quick to subscribe.
There’s been around 155 of these activities events so far with the highest rate being 88%. Activities can offer even higher returns than Fixed Savings usually does.
ETH 2.0 Staking
ETH 2.0 staking is again fixed terms and a safe and secure place for ETH staking with up to 20% APY.
Now when you do stake this can’t be redeemed during the first phase, which may take more than 2 years. However, Binance will regularly distribute on-chain rewards to all participants based on their BETH position (which is the token provided as proof of your staked ETH) in a 1:1 ratio.
Once the first phase is complete you can redeem your ETH. However, in the meantime, you can swap your BETH for ETH on a 1:1 basis. You can swap BETH back to ETH at any time, and receive the amount equivalent to your current BETH amount.
These products can offer some of the highest interest rates. However they do come at a higher risk and users should invest with caution, once they have fully understood the risks.
DeFi Staking is a way that you can access DEFI without having to manage your private keys, make trades or perform other complicated tasks required to participate in DeFi Staking. Decentralized Finance (DEFI) staking a way of providing financial services to users through smart contracts and provide higher earnings for specific currencies.
Currently, the interest rates reach 8.79% for staking the likes of DAI. Plus they offer both flexible locking and fixed locking deposits. This staking also comes within minimum lock amounts.
Dual Investments/Dual Savings are another way to earn, but this time it doesn’t matter which direction the price goes.
With Dual Savings, you deposit a cryptocurrency and earn a return based on two assets. You commit your holdings, lock in a yield, but earn more if the value of your holdings increases during the time that they’re locked up.
The annualised rates of return 160% users can deposit BTC, BUSD or USDT.
Although the rate of return is fixed, the final settlement is determined based on the settlement price and the pegged price. Therefore, the risk associated with Dual Currency Investments mainly lies in the high rate of market volatility. Users are advised to invest with caution once they fully understand the risks.
The final high-risk savings option is Liquid Swap. This is where you can become a liquidity provider and can earn double rewards with rates up to 15.67%.
Liquid Swap also known as BSwap is obviously not risk-free either. When the market price of tokens fluctuates greatly, the staking income may be lower than the income of ordinarily holding the tokens, and losses may even occur at this point.
How to Save on Binance Trading Fees
By signing up to Binance Exchange using this link or referral ID GPZ64I32, you will save 20% when trading. However, you can save up to 45% when using the Binance BNB token. To find out more on how to save 45% trading on Binance Exchange click here.