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How do you find Ethereum contracts?

How do you find Ethereum contracts
How do you find Ethereum contracts

How do you find Ethereum contracts?

Getting started with smart contract blockchains can be difficult sometimes. Especially if you are looking for things like a specific token or Dapp contract on the Ethereum blockchain. Luckily there are tools that help us explore the blockchain and see what contracts run on them and the details about them.

To find a contract on Ethereum you can use the EtherScan block explorer. This tool will let you search for any contract that runs on its network, from simple ERC-20 tokens, NFTs, to Application contracts that make decentralized exchanges. 

This way you can ensure that you interact with the correct token/application on the network. The could prevent scams. But also lets you check if a transaction went right and see why, if it did not go through. 

What are Ethereum contracts?

Contracts on Ethereum are called smart contracts. We call them this because they can execute automatically if certain conditions are met. This means that when for example person A pays person B, person C will automatically pay person A. Some would call this an “if this, then that”. Which basically refers to the automation of contracts. This contract programmability on the Ethereum blockchain is what makes it so popular, and because it was one of the first of its kind it also became the biggest. 

The contracts on its network are what make it possible for tokens to run on the chain. But also makes decentralized applications possible. This has resulted in many games, tokens, marketplaces, and many more things that currently live on top of it. Without contracts like these Web3 would not have been possible and the blockchain space would have looked much different right now. 

In what language are Ethereum contracts written?

The smart contracts on Ethereum are written in a programming language called “solidity”. This programming language was born and became popular together with the Ethereum blockchain. But is not only tied to Eth anymore. Because of the standard Ethereum set with its EVM (Ethereum Virtual Machine), many other blockchains have copied its model and tried to give their spins or upgrades to the idea of a smartcontract-focused blockchain. 


Many of these chains run an EVM on their own network. Making it very easy for developers on other chains that also have an EVM to migrate. Besides drawing in a lot of developer talent they also make it possible to connect their network to any EVM wallet

This has already created a large network of EVM chains that all connect to each other through blockchain bridges and all have their own benefits. Making a big multi-chain world possible. 

Find everything on the Block explorer

On a block explorer, you can find anything related to that blockchain. From old transactions to the smart contracts that run on it. Because of the nature of a blockchain, all transactions once recorded on it will always stay on the public ledger. Meaning that every single transaction you make will be on the network for as long as that network exists. This makes it easy to figure out how or what happened on the network before. As long as you know the address, you can trackback any of your old transactions. If you have already made some transactions before on networks like Ethereum, Avalanche, or the BNB Smart Chain, you could look them up by using a block explorer.

Ethereum contracts on other blockchains

As mentioned before all EVM networks run an EVM, making it easy for developers to deploy their smart contracts on more than one network. This can give them more exposure to the liquidity of other chains. But also lets its users use their products with more security, faster and or cheaper transactions.

Many larger Dapps like Uniswap thus make use of this and have their super popular market deployed on more than one blockchain and some sidechains. Bringing more and more functionality to many different networks. 

However, like the Dapps can move easily to other chains, the liquidity can not. So not all Dapps on all networks work as well as they do on the network they started at. Because of this slippage or trading pairs may differ on chains that have less liquidity. 

If you plan on using Dapps on many smaller blockchains, this would be something to look out for. 

Final word

We hope that this article thought you something about Ethereum contracts and where to find them. If you have any other questions you want us to answer, feel free to contact us on our socials. So that we can keep publishing the best and most helpful articles for you.

What is a KRC-20 token?

what is a KRC-20 token
what is a KRC-20 token

What is a KRC-20 token?

The KRC-20 token standard is a token protocol on the Kucoin Community Chain (KCC). The KRC-20 token protocol is a direct copy of the ERC-20 token protocol on Ethereum but on the Kucoin Community Chain. 

Just like many other smart contract blockchains, KCC makes use of an EVM (Ethereum Virtual Machine). This means that on KCC you can use the same token protocols and recipient addresses as on Ethereum, BSC, Avalanche, and Polygon. This specific token standard is used to create tokens that are not unique. So each token is basically the same as the other of its kind. 

One example of a token like this is the USDT token, where every token represents a token pegged 1 to 1 to the Dollar. Therefore each token represents 1 dollar and has the exact same use case and token contract id as the others. 

When it comes to the KRC-20 tokens they can only be created and transacted specifically on the KCC. To do so users of the blockchain will need some KCS tokens which function as the gas token of this blockchain.

Checking KRC-20 transactions

Because KRC-20 transactions can only happen on the Kucoin Community Chain, the transactions can only be verified by a KCC explorer. Here you can see your KRC-20 transactions, and search for specific token addresses/IDs. So you can make sure that you transact and trade in the right kind of token. 

Especially when you are using an on-chain exchange, you want to verify that you are trading with the right token and not just a copy with the same name. You can do this by checking the token address on the KCC explorer. 

Besides checking addresses, you can also see if a transaction went through or not. If you ever have a problem transacting you could check there what went wrong or to which address the transaction went. Or if you are doing research about a token you can also see how often transactions are being made with these types of tokens. 

Moving KRC-20 tokens between blockchains

Moving KRC-20 tokens between blockchains

Although you can not simply just send a KRC-20 to another blockchain address on Ethereum for example. However, you can bridge it to another blockchain and use it there. You can use a special blockchain bridge for this. This way you can convert your KRC-20 tokens to another -20 standard like ERC-20. This makes it possible to use these tokens on almost every blockchain that has an EVM. But you could also move almost any token from any EVM token to KCC. 

This way you can use any of these tokens on any of these EVM blockchains and benefit from the specific things each of these networks excels on. This can be speed, liquidity, security, and in some cases transaction cost. 

When you want to bridge tokens like these between different networks, do always make sure that you are using a bridge. Because not using a bridge will just result in your transaction being sent on that same blockchain to the address you put as the recipient in the transaction. 

How to get a KRC-20 wallet

If you think about starting with KCC and using any of the tokens that can exist on it you will need a KRC-20 wallet. Many wallets that let you add manual EVMs can integrate KCC and thus KRC-20 tokens into the wallet. Many EVM wallets allow for this, making the assortment for KRC-20 wallets noticeable. 

You can find all these wallets on our wallet filter website which helps you find the right one for you. Once you get started with a KCC wallet it will work in the same way as other EVM wallets will. So you can use the same address for sending and receiving if you would like. Especially because some wallets let you add more than one EVM blockchain, you could use all these chains with simply one address. 

If that is what you do. Do keep in mind that it could make your blockchain usage a bit less private as you can easily find all the transactions linked to one address. Because of that reason, it might be good to switch addresses once in a while. 

Can you use Metamask for KRC-20 tokens?

Yes, among all the EVM wallets that support KCC, Metamask is one of them. To use KRC-20 tokens on Metamask you will first have to add Kucoin Community Chain to Metamask

Once you have done this you can start to use Metamask to send and receive KRC-20 tokens with Metamask. But you can also start using Dapps on the network. So you can fully utilize the power of KCC. With a large ecosystem backed by the Kucoin crypto exchange that constantly expands.  

For more information on their ecosystem and updates on the growth of their network. You can check out the KCC website.

Final word

Now that you understand what KRC-20 tokens are and how you can start using them it is time to use KCC to the fullest. We urge you that when you do you always be careful and do fully understand how blockchains work and how to interact with them. If you do not and are still stuck with questions? Feel free to check out our blog where we answer many other crypto questions or ask us on our socials. So we know what to write about next.

How do I buy Bitcoin for someone else?

how do i buy bitcoin for someone else
how do i buy bitcoin for someone else

How do I buy Bitcoin for someone else?

If you already took the orange pill and have opened your eyes to the promise of a decentralized internet on top of Bitcoin, you might want to share that greatness with some of your friends and family. But how do you share Bitcoin with someone else? Or how do you buy it for them? If they do not know how it works yet and is new to it. 

Well in this blog we tell you, step by step how you can buy some Bitcoin for someone else. So that you can give it as a gift and boost the adoption of BTC a little bit as well. 

But if you are planning to give your friend/partner/family member some BTC does make sure that they first understand a bit about how Bitcoin works or had some practice with crypto. So that they will not lose their coins. And they are prepared to handle the financial freedom and responsibility that blockchain tech brings to the people. 

Things you will need

To get started with Bitcoin your gift receiver will need to first have a Bitcoin wallet. So make sure that they install a good wallet that can receive Bitcoin or any other cryptocurrency that you would like to gift them. If you need to find one you can go through all the Bitcoin wallets here.

When your friend has the right wallet for them they can start receiving some BTC. You now only need a good crypto exchange where you can buy some BTC and an account on it. And of course, some currency to exchange for BTC. Which probably comes from a bank account or if your using a Bitcoin ATM could also come from your wallet like cash.

Where to buy crypto

You can buy Bitcoin from many places. The most common way of getting your hands on some crypto is through a crypto exchange. There exist many crypto exchanges and all of them have their own pros and cons. If you are not too familiar with the crypto exchange landscape you could probably best start with some of the larger and bigger exchanges. Binance, Coinbase, and Kucoin are some of these larger platforms. With all of them having multiple millions of users. 

Another way to get your friend some coins is by buying them at a Bitcoin ATM. Just make sure you send them to their address after. But you could also buy some BTC directly peer to peer from a P2P marketplace. On P2P marketplaces, you would have to directly deal with a person that wants to buy or sell their coins for cash. This process keeps the privacy of both the buyer and the seller as their transaction will not be linked to their government identity. 

the 5 steps to buying bitcoin for someone else

The 5 steps to buying Bitcoin for someone else

Now you know what you need and know where to buy it. We can take a look at the 5 steps of buying BTC for someone else.

Step 1 – Make sure the other person has a Bitcoin wallet

Step 2 – Make sure the other person understands what they will receive and how it works.

Step 3 – Purchase some BTC from an exchange, ATM, or 3rd person.

Step 4 – Send the BTC to their address. 

Step 5 – Make sure the other person creates a backup to their wallet.

Giving Bitcoin on a hardware wallet

If you would prefer to give your friend some Bitcoin as a surprise gift. You could give it already pre-stored on a hardware wallet. This way you could gift the BTC as a physical item. Which you can wrap and decorate. 

To do this you could basically use any hardware wallet. But as most of them are very expensive the present would also become quite pricy. Depending on what your budget is you could also try to go for a hardware wallet like Ballet. The Ballet hardware wallet (which we reviewed) comes at a very decent price. But the nice thing with this hardware wallet is that you can send your crypto to it without having to use it or seeing the private key. As long as the security sticker on the wallet is still on. No one could have seen the private key. This way the receiver will know for sure that the wallet is safe to use. 

Keep in mind tho that if you intend on sending BTC on the Bitcoin blockchain. The transaction cost can sometimes be quite high. Meaning that if you want to gift someone 10$ worth of BTC. You could probably better give it in another way. Because the Bitcoin transaction fees will most of the time exceed 1 dollar.

Tipping small amounts of BTC

If you really want to gift someone some small amount of BTC or send someone a tip for whatever reason. You could best do this over the lighting network. With the lightning network, you can send the smallest amount of Bitcoin (one Satoshi) to anyone at almost no cost(, or no cost).

This will make it possible to send that one friend 10$ worth of BTC without them having to pay 10%+ in transaction costs when they want to use it. To do this on the lightning network you will only have to withdraw your BTC to the lightning network if you take it out of an exchange. Do make sure that your crypto exchange also supports lighting.

 If you want to just let someone try them selfs to get started with Bitcoin on lighting. You could also set them up with apps that let you earn BTC on the lighting network. With small lightning games that pay out their user’s small amounts of BTC each time they play. This way starting with BTC can be fun and free. 

This can also work as a great way to gain some Sats to then donate to your friends if you do not want to buy them any.

Final word

We hope this blog thought you how you can buy some BTC for your friends and how and where they can store it. If you still have some questions related to this blog or any other crypto topic. Feel free to reach out to us on our socials. So that we know what to write about the next time. 

1xBit and Toncoin Enhance Gambling Grounds

1xBit and Toncoin Enhance Gambling Grounds
1xBit and Toncoin Enhance Gambling Grounds

1xBit and Toncoin Enhance Gambling Grounds

The leading sportsbook now accepts this Telegram Open Network token as a form of payment, indicating an increase in the number of the platform’s supported payment options. 

With its growing popularity in the cryptocurrency ecosystem, this altcoin could not go unnoticed in such an extensive industry as online gambling. Here are some advantages of the token you will find attractive as a bettor. 

Why Toncoin Is That Notable

One of the most remarkable features is the high processing speed the blockchain has. With its support for up to 2^92 individual accompanying blockchains, the protocol can process millions of transactions at the same time which is crucial for betting. Here are a few other attributes of the project.

Hypercube Routing

TON’s infrastructure allows the blockchain to execute transactions in a super-fast manner irrespective of size or form. The protocol leverages a logarithmic relationship among many blockchains to support mass scaling without adversely affecting the processing speed of transactions. 

Auto Infinite Blockchain Generation

Another feature of the TON that users will estimate is that transactions don’t queue on the blockchain, ensuring transactions don’t attract additional costs irrespective of the load change. This speaks to the ecosystem’s ability to scale in a seamless manner. The infrastructure can split and merge accordingly to accommodate different system loads. 

While executing these infrastructural changes, the blockchain’s speed remains unaffected. 

Proof-of-Stake

The proof-of-stake model provides validators with the avenue to deposit stakes, impacting the dependability of processes. This provides TON with the opportunity to save costs and also handle large-scale transactions without hindrances. 

The advanced proof-of-stake model prevents TON from facing the scalability challenges that other protocols battle with. TON’s infrastructure addresses the transaction demand issues and entirely eliminates the issue of queuing.

2D Distributed Ledgers

TON also addresses the fork issues that invalidate transactions. The protocol’s infrastructure creates new blocks to provide invalidated transactions with a new pathway to be processed. This is also programmed to save time and resources. 

Democratizing payment structures remains one of the most important elements in the sportsbook ecosystem. When players can make payments seamlessly and with any currency, more players will find it convenient to stake their bets. Toncoin’s features are in especially high demand in the betting domain, and 1xBit, one of the most renowned platforms, combines TON benefits with even more bonuses.

Betting With 1xBit: Numerous Advantages At Your Fingertip

1xBit remains committed to democratizing access to the crypto sportsbook space providing more than 40 cryptocurrency options as forms of payment. With Toncoin added to the list, more players holding the token can now make payments seamlessly without having to first convert their coins.

Betting on 1xBit comes with zero fees and provides you with complete anonymity. You also get instant payouts on your winnings and processing transactions is absolutely seamless. Getting started takes under a minute as the system is automated to provide you with login details. The platform also provides you with a welcome bonus of up to 7 BTC following your first four deposits. You can get started here.

With the addition of Toncoin to 1xBit’s list of supported cryptocurrencies, the sportsbook has further increased access to the gambling space. Check the latest updates via 1xBit’s social links:

Twitter: https://twitter.com/1x_bit 

Instagram: https://www.instagram.com/1xbit/ 

Youtube: https://www.youtube.com/channel/UCPAFo4OYJGHCxWlENrdRtWA 

Telegram: https://t.me/sportsbook_1xBit 

10 Best Optimism wallets

10 best optimism wallet
10 best optimism wallet

10 Best Optimism wallets for 2022

The Optimism layer 2 sidechain to Ethereum has seen a lot of popularity and interest from the crypto community. With many people recently added the optimistic rollup chain to Metamask. Making its users safe on a lot of gas fees that they normally would pay on Ethereum.

What is Optimism?

Optimism is one of the biggest Ethereum scaling solutions. Hosing a large variety of DeFi, GameFi, and many other Dapps. With early adopters of the sidechain like Uniswap, Lyra, Aave, 1Inch, and many more. Optimism works as an optimistic sidechain to Ethereum that makes use of the same gas token as Ethereum, ETH. This way Optimism is a true sidechain but has recently launched its own OP token that functions as a governance tool for the sidechain. 

What makes the sidechain so good is that it is fully compatible with Ethereum’s EVM. Which makes it so that its block explorers work in the same way as those for Ethereum. And that you can add it manually to an EVM wallet by using the RPC. On top of that, you can bridge very easily from any other EVM blockchain to Optimism to make use of its low gas fees and fast transactions. 

To learn even more about Optimism, check out their website.

But now let’s take a look at the 10 best Optimsim wallets for 2022!

trustwallet banner

1. Trust

The Binance-backed Trust wallet is one of the most popular mobile wallets that offers support for many blockchains and sidechains. Trust brings all the web3 features to mobile users through an easy-to-use wallet. With NFT display features, wallet connect and your normal sending and receiving functions. 

With already more than 5 million users Trust could boost the adoption of crypto and also the adoption of the Optimism sidechain. As mobile crypto wallet users switch to networks with lower gas fees.

Features:

  • NFT Display
  • In wallet Swaps
  • Staking
  • Large capital support
  • Web3 browser
  • Own crypto token

Metamask wallet banner

2. Metamask

In the second place, we have Metamask. The number one browser wallet that lets you use any EVM (Ethereum Virtual Machine) in your browser and mobile phone. Metamask has brought millions of users to DeFi applications because it makes connecting to Dapps on your computer supers easy. 

Metamask lets users add any custom EVM to it so that users can use any EVM blockchain or sidechain. Boosting the adoption of multiple blockchains. And help create a huge multichain ecosystem.

Check out our Metamask review to learn more about the wallet.

Features:

  • Supper trusted name
  • In wallet Swaps

3. Coin98

The Coin98 wallet is part of a huge Coin98 ecosystem. Which brings multi-chain ecosystems to all their users. Coin98 does all sorts of things within the crypto industry from analytics to DEXes. Making them a leader in the space of innovation. 

Just like all their products Coin98 wallet bridges the gaps in users’ experience and boosts the adoption of multiple blockchains at once. With the Optimism ecosystem to be fully compatible with the Coin98 wallet. Coin98 can function as a great interface to the Optimism ecosystem or storage place for your OP tokens.

Features:

  • NFTs
  • In wallet Swaps
  • Staking
  • Supports EVM and non-EVM chains
  • Large ecosystem
  • Decentralized exchange
  • Dapp integration
bridge wallet banner

4. Bridge

Bridge Wallet is a non-custodial mobile wallet app created in Switzerland. They focus on bridging your bank account with your own crypto wallet in an easy way. This way Bridge functions as a gateway from fiat currency to cryptocurrency. 

They support many different chains and sidechains to boost your full web3 experience. On top of that with Bridge, you have zero fees and can use 28 different fiat currencies. Making it super simple to start with crypto. No matter what country you come from

Read more about Bridge wallet in our Bridge review!

Features:

  • NFTs
  • In wallet Swaps
  • Supports EVM and non-EVM chains
  • Fiat bridge

coinbase wallet banner

5. Coinbase wallet

In fifth place, we have the Coinbase wallet. Not to be confused with the Coinbase crypto exchange. Although both offer support for Optimism. They both have very different use cases. Where the Coinbase exchange works as a centralized crypto exchange and the Coinbase Dapp wallet works as a non-custodial wallet for your crypto holdings. 

With this wallet, you are in full control of your assets and can freely use any DeFi applications without anyone in your way. Collet NFTs and become the master of your own digital asset. However, as you hold the keys. You also hold the responsibility. So do not forget to create a strong backup, in case you lose your mobile or desktop device. 

Features:

  • NFT Display
  • Large capital support
  • In wallet Swaps
  • Staking

6. MetaX 

In sixth place we have MetaX. MetaX got rebranded from the OkeX wallet. After the rebranding, the wallet will continue as MetaX but still with the backing and support of the OKX exchange. 

The MetaX wallet just like the Coinbase wallet is non-custodial. So you will need to make your own backup. But you will have much more control over your assets. And no big brother like overside on your activities. MetaX lets you use web3 to the fullest and has a design that makes DeFi, GameFi, and other web3 Dapps easy to understand. 

  • NFTs
  • In wallet Swaps
  • Staking
  • Large funding behind it

7. TokenPocket

Token pocket has been around for a long time already, bringing many users to crypto and connecting them to a large variety of blockchains and Dapps. Of course, also support the Optimism sidechain. 

Token Pocket has seen most of its popularity come from mobile users. But also offers a version of it for web extension. On top of the wallet services TokenPocket brings to crypto they also have their own token. This token has various use cases and keeps their community organized around the wallet to promote their ecosystem to the fullest. 

  • NFT display
  • In wallet Swaps
  • Staking
  • Own token
  • Dapp integration

imtoken wallet banner

8. ImToken

The Imtoken web3 wallet stands in our eighth place. But has gained popularity as one of the most used mobile wallets in the crypto space. With its non-custodial service that supports over 1000 different tokens, that keeps on growing along with the whole crypto space.

ImToken makes it easy for mobile users to use the web 3.0 and earn a yield on their digital assets. So they do not only have to sit at their address. They have already done this for over 12 million customers and helped exchange more than 500 billion in crypto.

Learn more about ImToken in our full review!

Features:

  • NFTs
  • In wallet Swaps
  • Staking
  • Supports EVM and non-EVM chains
wallet3 banner

9. Wallet3

A newcomer to our wallet lists. However, the Wallet3 app can bring a lot of new people into crypto. As it comes with a great design that makes it very easy to understand. On top of the fact that it supports many different EVM blockchains. 

Their whole wallet was built open-source and with a focus on asset security. So you can feel safe that you will not simply lose your crypto. But always do make a backup because with Wallet3 you hold the private keys. 

Besides that, you can use the wallet for all web3 features like Dapps and NFTs. Which you can display within the app. So you can easily show your digital collectibles to your friends.

Features:

  • NFTs
  • Wallet connect
  • Staking

bitpie wallet banner

10. Bitpie

The Bitpie wallet makes it possible to add the EVM wallet’s manual to its mobile app. Bitpie has made it to our wallet list multiple times now mostly because of all its functionalities. Bitpie has a large toolset for crypto users. Making it a good toolset for the advanced user that likes to use EVMs and Bitcoin alike. Or even use the lightning network on a daily. 

Although their design could use a bit of an upgrade the wallet can surely function as a good Optimism wallet for users of any level. 

Check out our more detailed review on Bitpie here!

Features:

  • NFTs
  • In wallet Swaps
  • Staking
  • Supports EVM and non-EVM chains
  • Lightning network support

F.A.Q.

How can I see my transactions on Optimism?

You can track all your transactions made on the sidechain by using an Optimism explorer. This will work exactly the same as an Ethereum explorer. And shows you any transaction that was ever recorded to the network. This way you can find back your old transactions and see if a transaction went through or not. 

Where to buy the OP token?

You can buy the OP in many places. The first place to find the token was on Uniswap on the Optimism sidechain. But you can also buy it directly on many large crypto exchanges like Binance, Kucoin, Gate, and many more.

Do I need the OP token to use Optimism?

No, on the Optimism sidechain you will not need the OP token to transact. The network lives as a true sidechain to Ethereum, meaning that the only gas token on the network is ETH. The OP token functions more as a governance token instead of a gas token. Making it more accessible for existing ETH holders. But still governed by its own model and community. 

Can Optimism host other Dapps?

Yes, Optimism runs an EVM meaning it can run all EVM compatible Dapps. That includes basically any Dapp that was created on another blockchain that utilized the EVM. With Dapps on BSC, Polygon, and Ethereum, switching between chains all the time. Or deploying its smart contracts on more than one blockchain.

End

We hope that this post has helped you find a good Optimism wallet and answered your general questions on the sidechain. If you still do not know what to do you can always ask us a question on our socials. So we know what to write about next and deliver the best crypto content to you. 

Do all cryptocurrencies have intrinsic value?

Do all cryptocurrencies have intrinsic value
Do all cryptocurrencies have intrinsic value

Do all cryptocurrencies have intrinsic value?

With the thousands of crypto tokens and coins that exist today, many wonder if any of them even have intrinsic value. Mostly because some big names in the financial world have said that they don’t. 

Although not every cryptocurrency is valued the same, some really do have intrinsic value. Making their price rises more than just hot air. However, most cryptocurrencies derive their value from a different aspect than your traditional assets would. Mostly because each crypto is different. Which brings many other aspects to their valuation. Because coins like Bitcoin will have a different use case than the $Chain token or a Catgirl coin

What is intrinsic value?

Intrinsic value is a thing that highly depends on who you ask and what intrinsic value would stand for exactly. Because there exists no universal way to measure or define the intrinsic value of something. But if we define it by the dictionary definition of intrinsic value. We can say that the intrinsic value of something is defined by the value that something has by itself. 

One example of this could be gold where its intrinsic value comes from scarcity. Or with oil that could be used for energy production. These are features that these things have by themselves. Without anything else boosting the value from outside. 

When it comes to crypto it might sometimes look like they do not have intrinsic value for people that do not understand their use cases. Especially as there are many different cryptos that for a newcomer might all look the same. This is however not the case as many of these crypto projects have their own use cases that give them value. But that is not the case for all projects. As some coins/tokens will be created just to be created. And do not come with any use case or future improvements. These projects could be seen as worthless. But the line for this can be a bit blurry when it comes to meme coins. More on this later.

Where does Bitcoin get its value from?

Cryptocurrencies like Bitcoin have been spoken out against by large names in finance like Warren Buffet and Charlie Mongers as a product without any intrinsic value. However the comments from these two successful entrepreneurs. It is clear to most that understand Bitcoin that these two gentlemen do not understand Bitcoin’s use cases. 

Bitcoin has several use cases by itself and because of its upgradability, it could even gain more in the future. However, we can not see that future yet. So let’s just focus on the things that make it already one of the most valuable assets in the world. 

3 reasons bitcoin has intrinsic value

3 Reasons Bitcoin has intrinsic value

Digital scarcity

Just like gold Bitcoin has a finite amount of it making it resistant to inflation. Even though that is not completely fair as gold does inflate over time as we find more gold on our own planet or on others. Bitcoin however will only ever have 21 million Bitcoins. Which makes it the ultimate scarcity asset. This is one of the most important aspects that give intrinsic value to Bitcoin. Especially in a time when almost all countries experience higher than usual inflation rates.

The global high-speed payments network

Have you ever tried to send some Euros from Germany to someone in Taiwan? You probably have not. However, if you have ever had to send a financial transaction between countries or even from one currency to another. You will have noticed that it takes super long and you will pay extremely high fees for doing so. 

With Bitcoin, you will pay a fee much lower than with any of the traditional financial payment rails. Plus your transaction will be confirmed within 10 minutes instead of a few days. And that would be on the main Bitcoin chain. If you do it on a Bitcoin sidechain like the lightning network, the transaction would cost less than a cent and take not even a second to be confirmed. 

Financial programmability layer

Next to the first two mentioned things. Bitcoin is fully digital, programable, and upgradable. Making it possible to run other financial infrastructures on it. This way Bitcoin functions as a value and security layer for other protocols that would like to make use of Bitcoin’s security and permissionless network.

All of these things made Bitcoin so popular over the last few years. And add give Bitcoin its intrinsic value. With more use cases and innovations to be likely developed on top of its network in the future.

Why Meme coins hold value

Meme coins do not really give any value to their users like Bitcoin. They usually exist on another blockchain and have an inflationary model. So why would they even hold value? Well, it’s complicated. Really they should not hold any value. However, the communities around these meme coins bring a unique form of value to these coins. Which is a community value. Most meme coins fully rely on this. 

This means that holding coins will make people more included in that meme coins community and thus spur the holding of the token. As this is still a new principle, no one can really 100% say how this will end up in the long run. But so far many meme coins have come to market with a strong community that gives a form of social value to them.

Is crypto backed by anything?

In most cases no. Most cryptos are not backed by any physical asset. But this does not mean they do not hold any value. Cryptocurrencies derive their value not from physical world backing but rather from the use cases they provide for their users. These can be things such as payment rails, computational networks, file storage, and many more things. 

Not all cryptos are created equally though. With many tokens like USDT and USDC that are being backed 1 to 1 with the US Dollar. These tokens we call stable coins as they should hold a price-stable to the fiat currency they’re linked to. These stable coins exist for almost all fiat currencies like the Euro and Dollar. But also for certain precious metals like gold and silver. And in some cases can also represent other assets like stocks or houses. 

Most cryptos do not derive their uses case from these sorts of things, however. But rather the ones that we mentioned before plus some extra use cases that are token specific, like governance power, or profit-sharing. 

Why do people think crypto has no intrinsic value?

As we said there are a lot of big names in finance that claim that crypto has no intrinsic value. But why do these people say this, especially as these people should very well understand the financial model behind them? 

Well, the answer as usual is not that simple. But what we have noticed ourselves is that it comes usually from 2 main things. The first one is simply a lot of the people that spoke out against it simply did not understand its financial model because of its technical aspect. This is sadly often the use case with older people that are not that used to the use cases of the technology. The investor type that does not use a smartphone will probably also have a hard time understanding why cryptocurrency could be useful when they do not even understand a simple smartphone. 

The other reason we believe that some of these people speak out against it is because of their professional position. These people are often central bankers or large managers of fiat currency. These people would of course be against it as it is against their own interests and careers. Just like a butcher would not tell you to buy veggie burgers. And a Mark Zuckerberg won’t recommend you to start using Snapchat.

Final word

We hope this blog thought you a bit about why cryptocurrencies hold intrinsic value and why some do. And why some people think they do or do not think they should be worth anything. If you have any other crypto-related questions for us that you would like to have answered in a blog. Then feel free to contact and follow us on our socials.

Can you invest in crypto wallets?

can you invest in crypto wallets
can you invest in crypto wallets

Can you invest in crypto wallets?

Every crypto holder needs a wallet to interact with their cryptocurrency, whether this is on a crypto exchange wallet or your own non-custodial wallet. Everyone needs to use a crypto wallet to invest in or use crypto. But can you also invest in these crypto wallets? And how would you invest in one?

Well to put it simply, yes you can invest in crypto wallets in 2 ways. Of which, one way is accessible to the average Joe like you and me. 

Initial investment rounds

The more difficult way and exclusive way to invest in crypto wallets is through initial investment rounds. This is usually only accessible to big venture capitalists and people with lots of money. These investment rounds let them invest in the company that builds the crypto wallet. And in return, they will own a stake in the company. Meaning they thus control part of the company and will share in the profits. 

For you and me this might not be accessible. But it is one way a lot of bigger money players get into the industry. By holding control of the companies that create the wallets.

Crypto wallet tokens

One other way to invest in a crypto wallet that is accessible to everyone is through crypto wallet tokens. These tokens represent certain things within the wallet and can be bought on crypto exchanges and DEXs. So buying crypto wallet tokens is also accessible for you and me. 

Crypto wallet tokens can sometimes be bought as an asset or utility token on the open market. Wallets that started out with their own token have used the token sale sometimes as their initial investment round. Making the token holders often in control of the wallet. 

If buying into these tokens your investment would be linked to the performance of the wallet. As the token prices will most likely increase with the number of users and usage of the wallet. 

We have already listed some crypto wallet tokens here.

Use cases of crypto wallet tokens

Although crypto wallet tokens still have not reached the top of the cryptocurrency market cap, many can go up over time depending on their users and use cases. Below we have a small list of their use cases. But many of the wallets that have their own token also still actively looking for new features they could add to the token. So that the value of the token may increase in the future. With burning mechanisms and many other features still possible to be added to many of the existing tokens out there. 

  • Tiers – Giving extra features within the wallet for holding their token.
  • Discounts – This can be on Trading/Swaps or anything else they charge a fee for.
  • Purchases – Purchasing specific (digital) items.
  • Airdrops – Often to promote a project in collaboration with the wallet.
  • Sence of community – Just to keep the users more interactive with their product.
  • Revenue share – Which often comes in a way of a token burn or an interest you can earn when staking the token. This lets everyone invest in the wallet and its future performance.

Do I need to invest in a crypto wallet?

No, not really. You can use any crypto wallet without having to invest in that wallet. Which should be how wallets operate. But some wallets do give you more benefits or use cases in the wallet if you hold some of their tokens. They do this to link the price of their token more to the number of users they have. But most wallets let you simply use their wallet for free. So you can decide for yourself to invest in it. 

Holding tokens from crypto wallets or exchanges can benefit you in some cases like with NEXO, Coinloan, or Binance. Where you get more interest or a cheaper trading fee for holding their tokens. This works sometimes the same in decentralized non-custodial wallets. Making it so that the user sometimes receives tokens over time by using the platform. But whether or not a user keeps these tokens is totally up to them.

Does crypto still grow in your wallet?

Your cryptocurrencies can grow within your wallet. But not in form of dividends. Your Bitcoin and other cryptos could grow within your wallet in form of staking rewards, price appreciation, or interest earned from lending. So to make your Bitcoin grow within your wallet you would need to do something extra. All of these things like lending and staking always do come with a little extra risk. But can earn you some extra passive income on your tokens and coins. 

Or the price of your crypto could appreciate over time. But no of that is guaranteed by anyone. So never put money into it that you can not lose. So to answer the question yes, your digital coins and tokens can grow in value within your wallet.

are crypto wallets safe

Are crypto wallets safe?

Yes, most cryptocurrency wallets are save. Except for cryptocurrency scam wallets. The security of your wallet however depends highly on you. You see most wallets use a decentralized non-custodial model. Which puts the responsibility of the assets fully in your control. Because of that reason, you will need to make a good backup. For when you would lose access to the wallet. 

To protect yourself and your coins, you would have to focus more on the security of your computer or mobile, or other devices. You can do this with simple things like having a good virus scanner, a strong password on the wallet app, using a VPN, and not using untrusted websites. Besides all these things you could also educate yourself a bit on crypto scams. So that you will not fall for them as there are constant crypto scams going on on social media. And people keep receiving phishing emails from criminals that want to steal your coins.

But do not worry, this might all sound like a lot of work, but as long as you keep your computer safe and private it should not be a problem for you at all. As that is something you would probably already do on a regular basis to keep your online activity for yourself. 

Final word

We hope that this blog has taught you something about investing in crypto wallets. If you still have any other cryptocurrency-related questions or topics you would want us to write about in the future. Feel free to give us a follow or reach out on our socials. So we can give you the best blockchain content all the time.

 

How to add CoinEx Smart Chain to MetaMask

how to add coinex smart chain to metamask
how to add coinex smart chain to metamask

How to add CoinEx Smart Chain to MetaMask

In this blog, we show you how to add CoinEx Smart Chain to MetaMask wallet. First, we talk a bit about what CSC is and what it does, etc. If you do not want to read about that and directly want to see how to add CoinEx Smart Chain to MetaMask. You can go down this page and start reading “Getting CSC on MetaMask”.

What is CoinEx Smart Chain

The CoinEx Smart Chain (CSC) was created by the CoinEx public chain team for decentralized finance. The blockchain adds itself as an addition to the EVM compatible blockchains that take the stress away from Ethereum and make the interchain DeFi ecosystem flourish. Besides giving more utility to the crypto exchange its token.

CSC introduces a form of Proof of stake (POS) that allows for 101 validators to operate the blockchain network. These validators are chosen every 200 blocks or about every 10 minutes. Because a block takes 3 seconds to produce. The more tokens a validator has staked the more chance it has to become a validator. Because only the highest 101 stakers can become the CSC’s block producers. Validators do not have to hold all these tokens themselves. Users can stake their tokens to a validator. Giving them a larger stake. Staking your tokens to a validator in CSC thus works like casting a vote. 

In this model, users can show their support to a validator they like and participate in the governance of the CSC blockchain. 

CSC has its own EVM (Ethereum Virtual Machine) meaning it is fully compatible with all other layers one’s and two’s that run an EVM. Because of this bridging between chains can be done. And assets can move freely between CSC, BSC, Avalanche, Ethereum, and many other blockchains. 

More info on their website.

Dapps on CoinEx Smart Chain

CSC is still a relatively new blockchain and has not seen its ecosystem at full potential. Although the network is EVM-compatible, not many projects have been built on it yet. But this could still come. Because of its EVM compatibility, Dapps on other EVM blockchains could simply move over to CoinEx Smart Chain by changing their code a tiny bit. 

For now, it is difficult to find Dapps on the chain, especially as it is not yet supported by websites like Dapp radar. 2 projects that did already start on the CSC are OneSwap and XDAO. Both these projects came early to the CSC so they will most likely grow the most along with the growth of the CoinEx Smart Chain.

CoinEx Smart Chain Explorer

As with (almost) any other blockchain, CSC has a block explorer. This CoinEx Smart Chain block explorer shows everyone information about its blockchain. You can find here things like the active addresses and daily transaction volume. But you can also lookup earlier send transactions. So you can see if the transaction went through and to who it went. If something ever goes wrong and you want to see what happened. The block explorer is your go-to tool. 

You can also find information about other tokens and NFTs living on the chain. And see how many people hold them and interact with them. Or how many of them exist on the network. 

A block explorer basically works as the source of your statistics to the CoinEx Smart Chain.

CoinEx Smart Chain wallet addresses

Just like with all other EVM blockchains CSC supports the same type of Ethereum addresses. Meaning that if you have a wallet like Metamask, you can add this blockchain to it and use the same address on a different EVM blockchain. So if you add CSC to Metamask, but also add Polygon and Celo. You can use the same address on all of them for sending and receiving transactions. 

However these transactions use the same address, you can only use them on one of these blockchains. So you can not just send a simple transaction directly from Polygon to CSC. 

CSC Bridge

To send a transaction directly to CSC from Ethereum or any other EVM chain. You will need to use a CoinEx Smart Chain blockchain bridge. Bridges like these let you send transactions between blockchains. And thus send tokens or NFTs from one chain to another. So that you can enjoy the benefits of that blockchain.

How to pay fees on CoinEx Smart Chain

Paying fees on CoinEx Smart Chain, can not be done like on Ethereum with ETH. No, CSC has its own token called CET (CoinEx exchange token). This token is needed to pay transactions on the blockchain network. These transactions a super cheap as the network processes new transactions and blocks very fast. 

If you plan on using the CSC you will need these tokens. Even if you bridge other tokens to it. As you can not transact on its network without having any CET to pay transaction fees with. 

CoinEx token

The main token of CSC is the CET token. This token was originally created as an ERC-20 token by the CoinEx exchange. The token functions as a utility token on their platform that gives traders a discount on fees and access to certain promotions. 

The CoinEx exchange token also gets burned and the token out of circulation over time. With the exchange’s team buying back and burning the token with 50% of their trading fee profits. Till the token hits a supply of 3 Billion coins. After that, the team announced that they will use 20% of their trading fee profits to burn all the remaining tokens. This coin burn mechanism will hopefully give lasting value to the token, on top of the value that it receives from being the main token for the CSC.

Wallets that support CoinEx Smart Chain

Because CSC runs an EVM, all other EVM wallets can simply support the blockchain network as well. This means that you can manually add CSC to Metamask or any other EVM wallet. Because of this there already exist many wallets that support CSC. But also some wallets that have pre-added it. So that you do not have to add the wallet yourself. 

You can find all these wallets on our wallet finder feature. Here you can go through all the wallets that support it and see users’ reviews. 

But with some of the wallets, you will have to add CSC to Metamask manually. You can find the instructions to do this below. So now read below how you get the CSC network on Metamask and start using the CoinEx Smart Chain.

Getting CoinEx Smart Chain on MetaMask

So to add the CoinEx Smart Chain to MetaMask you have to open the MetaMask wallet (In case you don’t have MetaMask yet, please get it on this page).

Once you have MetaMask installed, open it up on the full screen. So you will have the same screen as in our example here.

coinex smart chain metamask 1

Now go to the top right of the screen where it says “Ethereum Mainnet” and click on the little arrow pointing down next to it. This opens the network’s tap where you can select all different types of EVM blockchains (Ethereum virtual machine) networks. Now here you can click on the Custom RPC to add a new custom EVM blockchain network of your choice. In this case, the CoinEx Smart Chain.

coinex smart chain metamask 2

Now Metamask will ask you for the data needed to connect the wallet to the CoinEx Smart Chain. Please fill in the list below.

Network Name: CoinEx Smart Chain
CoinEx Smart Chain RPC URL: https://mainnet.telos.net/evm
CSC ChainID: 52
Symbol:  CET
Block Explorer URL: https://www.coinex.net
coinex smart chain metamask 3

When you have done this, you can just click save. And now you have added the CoinEx Smart Chain to your MetaMask wallet.

If you would like to switch between the EVM blockchains. Simply click on the Network button in the top right of the screen to select another blockchain.

Because adding different types of EVM blockchains works the same, you can add any EVM blockchain in the same way. But instead of the list given in this blog, you replace that with another network’s ChainID, symbol, etc.

We hope this blog post helped you to integrate a new EVM into your MetaMask crypto wallet. So that you can now use CoinEx Smart Chain as much as you want.

Find your wallet here

In case you want to see all the other wallets supporting CoinEx Smart Chain. You can simply take a look here to filter between all wallets that do!

So we hope this article taught you more about how to add CoinEx Smart Chain to MetaMask wallet. But in case you have Questions regarding Crypto or CoinEx Smart Chain? Feel free to ask them on our socials. Because we are happy to help whenever we can!

Can Crypto bank the unbanked?

can crypto bank the unbanked
can crypto bank the unbanked

Can Crypto bank the unbanked?

Bitcoin was created for multiple reasons, one of them being to help bank the unbanked. Because crypto networks like Bitcoin only need an app on your phone to store your money. Having a bank account won’t be a necessity anymore. 

This makes it possible for those that can not open a bank account to still have a way to pay online and store their money. Without having to put all that money under their mattress. Countries like El Salvador and the Central Republic of Africa have already realized this and accepted Bitcoin as their national currency. Thus legalizing Bitcoin. Both of these countries have a large percentage of their population unbanked. So adopting a cryptocurrency that brings financial inclusion to those that can not open a bank account, seems like the smart move to make. 

Although you will still need to have a phone or other computer device to access any crypto network. More people in a lot of developing countries have mobile phones than bank accounts. Making the adoption of crypto more accessible than the adoption of bank accounts. For countries that do not even have their own national currency and depend on the currency of another nation. There is no good reason to not adopt a strong cryptocurrency like Bitcoin as a primary or secondary currency. As their people would only benefit from a strong decentralized hard money, that they can control themselves. 

Can I use Bitcoin as a bank account?

If you have a Bitcoin wallet, it basically functions as a bank account in your pocket. A Bitcoin wallet can store as much BTC on it as you would like. But just as with keeping cash in your pocket. There is a risk of it being stolen. So diversifying it might be a good idea instead of holding your BTC all in one place. 

If you would happen to be unbanked and want to use Bitcoin as your Bank account. You might want to consider spreading your BTC over more than one address. And making strong backups of all your accounts. Bitcoin does function as a bank account. But you will be in full control of that bank account. Which makes you also fully responsible for it. 

When you hold your own BTC and decide to be your own bank you might also want to use some financial instruments to use that money. More and more stores start to accept BTC making it already one of the most usable currencies around the world. So spending should not be a problem especially as you can use intermediates to pay almost anywhere with BTC. But if you decide you want to also earn some interest on your BTC and still stay in full control. You could take a look at Bitcoin DeFi. Because DeFi protocols can help you earn a yield via collateralized loans that function on the blockchain. Making it so that you will still be in full control and can also use some financial instruments that a bank normally would offer. 

How Crypto wallets function as your own bank

A crypto wallet functions essentially like your own bank account on your device of choice. So if you have a crypto wallet on your phone you basically have a bank in your pocket. With a crypto wallet, you can interact a blockchain of choice which will allow you to use a lot of financial instruments but also gives you access to play to earn games and NFT ecosystems. Which can be fun and sometimes also a little bit lucrative. 

When you have used a crypto-wallet as a bank account you will see that crypto is not just about making money. But rather that it can be a super useful banking tool that can give you more freedom in a world that does not distribute wealth and opportunities equally. And can open you up to a world where your data and time are valued more. 

The lightning network and wallet providers

One way to get started with all of this is by starting out with your own crypto wallet. But for some, it might be hard to start and put capital on it right away. That is why more and more ecosystems spin up those pay users small amounts for games or activities online. Giving more value to your online activities.

One of these systems that can work on a Bitcoin lightning gaming ecosystem is Zebedee. Their Zebedee wallet lets you set up a Bitcoin lightning wallet with your Google, Facebook, or email address. This makes it super easy and with their great design you will understand the wallet in no time. 

On top of their wallet, they have built an ecosystem of Bitcoin games. These games pay players directly over the lightning network into their Zebedee wallets. Which can be a great start to getting into the BTC ecosystem. Especially for those that are unbanked and might not have access to convert their cash into BTC via a bank account or Bitcoin ATM. So this way they can earn some Sats (the smallest unit of BTC) and use this to transact with others or save it up for later. 

Crypto banks

If holding your own crypto is not for you. Then you could always try to go for a crypto bank. Although this is not 100% a thing yet. Some companies basically function as a crypto banks. With companies like NEXO and Coinloan that offer you high-interest rates on your cryptocurrencies, with the flexibility to withdraw them at any time. With even the same features for fiat currencies. 

Although these so-called crypto banks might require you the same things as setting up a regular bank account might require you to have. For many people that can open one, it can bring more functionality to their crypto in a form of yield. 

If you however can not set up a crypto bank account and hold your crypto on-chain. You could always find the same set of products in DeFi protocols. With hundreds of DeFi protocols on many different blockchains, which offer you a large variety of financial instruments. Many of these are listed on websites like Dapp radar where you can have a nice overview of the protocols and browse through them.

On crypto exchanges, users can buy and sell cryptocurrencies at a fast pace. But besides trading, most exchanges also offer other financial products these days. Some of them give you the option to earn a yield on your fiat and/or crypto. So if you have a Coinbase account and want to use their savings rate account as your savings account. You can do that. 

However, a Coinbase account is compliant with all the necessary regulations. It does not have the same rules apply to it as a bank savings account. Which means it might bear a bit more risk. But a bank account might not really give you any interest on a yearly basis. Whereas a Coinbase account does. This makes it much more interesting for people already familiar with crypto to store their fiat and crypto on an exchange that offers a higher yield than their bank.

The yields diver per exchange with Coinbase and Binance giving quite the low yields on savings accounts. But also more security to higher yielded products. What is best for you depends still on your own personal decisions. And you should keep in mind that when it comes to your finances you still are responsible for it all.

decentralized financial products on the blockchain

Decentralized financial products on the blockchain

When you bank yourself with crypto, you might want to look more into DeFi products. DeFi stands for Decentralized Finance. This refers to financial applications on a blockchain. That anyone can use without having to ask permission. This can be great as you do not have to be controlled by a bank and have to wait for their work hours and long processes. Instead, you could simply swap your (game) tokens on a DEX and use the coins or tokens for something else. DeFi lets you make use of all that you have online and can run on a blockchain, from game items to simple BTC. 

DeFi products are many and there are new products being developed every day. For people that do have access to a blockchain network and not to any bank account. DeFi is the go-to solution. Because no one needs to give you permission to start using it. And you can do so from your phone. 

When we talk about banking the unbanked, two things might be most important. And those two things are giving unbanked people the option to bank themselves and store their money, and the second would be for them to use that money to be included in the global financial system. So they would not have to miss out on opportunities that can occur there. 

Final word

We hope this blog thought you how crypto can serve the unbanked and that if you are unbanked, you now understand a bit better how to help yourself. If you are unbanked and want to start with crypto please take a look at our wallet finder feature and choose a crypto wallet that suits you best. 

If you still have any questions for us, feel free to reach out on our socials. So we know what question we should answer in our next blog. 

How to add Telos to MetaMask

how to add telos to metamask
how to add telos to metamask

How to add Telos to MetaMask

In this blog, we show you how to add Telos to MetaMask wallet. First, we talk a bit about what Telos is and what it does, etc. If you do not want to read about that and directly want to see how to add Telos to MetaMask. You can go down this page and start reading “Getting Telos on MetaMask”.

What is Telos?

Telos is one of the EVM blockchains around that calls itself the home to the fastest EVM. With a battle-tested TPS (Transaction Per Second) of 10,000+. Telos wants to be cheaper, greener, and honest. And beyond its functions, be the leader for a better Web 3.

Telos was originally built on the EOSIO software and thus supports its own native C++ smart contracts. But can also run EVM solidity contracts on its chain. As the first-ever EOSIO chain to do so. On top of that, it improves on many other EVM-competible blockchains, not only with its high TPS. But also with its eco-friendliness, fixed gas fees, community governance, and capability to stop front running.

All these features add to its uniqueness in a multi-chain ecosystem that is ever-expanding. With active development under the lead of Jesse Shulman and Justin Giudici. 

For more info check out their website.

How to pay fees on Telos

Like most layer 1 blockchains and some sidechains, Telos has its own token. The $TLOS token, this token works not only for governance on the network but is also used as their main fee token to pay for any kinds of transactions. This means that if you plan on using the layer 1 blockchain, you will need to acquire some $TLOS tokens to transact with DeFi protocols and all other Dapps on the network. 

Fees paid on the Telos network in return will be paid back to the validators of the transactions. And these validators also need to hold their own fair share of $TLOS tokens. Because the blockchain uses a Proof Of Stake consensus model.

Smart Contracts on Telos

Smart contracts on Telos work can be built with Solidity like with any other EVM-compatible blockchain. This means that Dapps built on BSC, Terra, or Ethereum can easily switch over to Telos if they change the code just a tiny bit. Making it easy for Dapps on other blockchains to switch to Telos if they think that this will benefit their end-users. And because Telos has quite the TPS compared to other layer 1’s this could be interesting for some.

Besides that the network uses an EVM, it also has its own native smart contract capability built with C++. This means that not only Solidity developers can build on top of it. But also developers that are skilled in C++. This can be great for many as C++ is already a well-known developer language used by many.

Dapps on Telos

As we mentioned before, Telos can run both Solidity and C++ smart contracts, giving it Dapps from basically 2 ecosystems. One is its own native ecosystem and the other is the EVM ecosystem. Which often comes from other chains to the Telos ecosystem. 

With projects such as Xpell, Tswaps, and Alcor being built on top of the native C++ base and projects such as Zappy, Tsquirls, and  AreaXNFT on its EVM. With a large variety in its ecosystem and the capability to bridge to other EOSIO chains and other EVM blockchains. The Telos Dapp ecosystem could see more growth in the future as crypto adoption rises around the world.

The $TLOS token

You will need the $TLOS token if you plan on using the Telos ecosystem. Luckily the token is already available on some good exchanges like Kucoin and gate. But they have also bridged the token to some other big layer 1 blockchains like Ethereum and BNB Smart Chain. So you can trade it on their large DeFi protocols. 

The $TLOS token is held by many in the crypto space with:

  • Total Wallet Holders:  984K +
  • Native Wallet Holders:  977K +
  • ERC-20 Wallet Holders: 1.2K +
  • BEP-20 Wallet Holders: 6.6K +

The project never had an ICO or any VC funding and started out with a total supply of 355 million tokens.

Wallets that support Telos

Like all other EVM compatible blockchains Telos can be added to basically any EVM wallet out there. You can add it to many of these wallets as a Custom network. This way you can not only use Telos in that wallet. But also many other EVM blockchains like Polygon at the same time. Down below we take a look at how you can add a network like this one to Metamask. But how you add this to Metamask works more or less the same way as with any other EVM wallet. And will need the same data. 

But besides wallets that support the network through a manual add. You can also find some web, desktop, and mobile wallets that support it directly/natively. This means that you will not have to add the network yourself. But can start using it right away with a new or old address. You can find all these wallets here.

If you decide to start using $TLOS in your own wallet instead of a crypto exchange. Please do make sure that you created a good backup. So that if you would lose your device or the wallet software, you can still access your crypto. 

Getting Telos on MetaMask

So to add the Telos to MetaMask you have to open the MetaMask wallet (In case you don’t have MetaMask yet, please get it on this page).

Once you have MetaMask installed, open it up on the full screen. So you will have the same screen as in our example here.

telos metamask 1

Now go to the top right of the screen where it says “Ethereum Mainnet” and click on the little arrow pointing down next to it. This opens the network’s tap where you can select all different types of EVM blockchains (Ethereum virtual machine) networks. Now here you can click on the Custom RPC to add a new custom EVM blockchain network of your choice. In this case, the Telos.

telos metamask 2

Now Metamask will ask you for the data needed to connect the wallet to the Telos. Please fill in the list below.

Network Name: Telos
Astar RPC URL: https://mainnet.telos.net/evm
Astar ChainID: 40
Symbol:  TLOS
Block Explorer URL: https://teloscan.io
telos metamask 3

When you have done this, you can just click save. And now you have added the Telos to your MetaMask wallet.

If you would like to switch between the EVM blockchains. Simply click on the Network button in the top right of the screen to select another blockchain.

Because adding different types of EVM blockchains works the same, you can add any EVM blockchain in the same way. But instead of the list given in this blog, you replace that with another network’s ChainID, symbol, etc.

We hope this blog post helped you to integrate a new EVM into your MetaMask crypto wallet. So that you can now use Telos as much as you want.

Find your wallet here

In case you want to see all the other wallets supporting Telos. You can simply take a look here to filter between all wallets that do!

So we hope this article taught you more about how you can add the Telos to your MetaMask wallet. But in case you have Questions regarding Crypto or Ethereum? Feel free to ask them on our socials. Because we are happy to help whenever we can!

So are you ready to start using your own Blockchain wallet? Take a look at our unique wallet finder functions here! So you can find the perfect wallet for your blockchain.