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Advantages of using a DEX Trading on decentralized exchanges can be expensive, especially if network transaction fees are high when the trades are executed. Nevertheless, there are numerous advantages of using DEX platforms. Token availability Centralized exchanges have to individually vet tokens and ensure they comply with local regulations before listing them. Decentralized exchanges can include any…

When minting a new artwork, there are a few things you should consider. The current NFT market mostly depends on the way artists and collectors behave on the blockchain. For that reason, you should always act carefully to ensure the integrity of the market in the future. …

When you decide to create an NFT, you must first “mint” the digital version of your artwork. Minting an artwork refers to the act of tokenizing the artwork, i.e. uploading it to a given marketplace platform and issuing a token to guarantee its authenticity. You will then have to pay…

Since decentralized applications are not owned by an individual or a company, and are deployed on distributed systems, they have the following features: Points of failure: DApp: No single point of failure because individual users’ machines don’t rely on a single central server to handle processes Centralized app: Single (or…

Signing up Signing up to an NFT marketplace can differ slightly from site to site, but the main steps to follow involve creating an account or connecting a supported digital wallet, or doing both. The button for this is typically located in the top right-hand corner of the NFT marketplace homepage. …

NFT marketplaces are platforms where NFTs can be stored, displayed, traded and in some cases minted (created). These marketplaces are to NFTs what Amazon or eBay are to goods. In order to access and use these types of marketplaces, you will need to have the following: A crypto wallet: You’ll…

How Does a Digital Wallet Work? Digital wallets are generally considered to be a safer option than cryptocurrency exchanges. While one can safely store small amounts of cryptos on exchanges to carry out regular transactions, it is always advisable to use a wallet to store the remaining holdings. Interestingly, crypto tokens themselves are not stored in…

The virtual asset that is equal to the value of the cryptocurrency in the blockchain network at a ratio of 1:1 and can work in different blockchain networks is called a Wrapped Token. Wrapped tokens are developed so that the cryptocurrency can be transacted outside of the original blockchain network…