6 .How To Invest in Cryptocurrencies - A beginners Guide | Steemit Crypto Academy | Lesson 6 by: @electrodo
Hello everyone at steemit! from @electrodo de Margarita to the world.
Hello to all those users and friends of this great family of steemit, for me it is a pleasure to be able to start with the tasks of the crypto-academy and the teachers, since those of us who are immersed in this world and are passionate about cryptos have the obligation to stay informed and be aware of the latest advances in terms of cryptographic technology and blockchain and to start the task entrusted by professor @besticofinder we proceed to evaluate the chosen project considering ourselves from the investor's point of view and taking care of our money as much as possible.
Before starting I want to inform the community that this analysis is not a financial recommendation or a role model since I am not an expert in the area, it is only my point of view and I hope that this publication is seen as educational material and if you like it You must investigate the project more thoroughly and make your own decisions, but what I can recommend is that you do not put the money your family depends on at stake or invest more than you would be willing to put at risk. To make investments in this world, I recommend that you prepare and study everything you need to start this journey through the world of crypto finance.
To start the analysis of the project that I chose, I must begin by saying that it is a relatively new project with little time on the market that belongs to the world of the Fintech and what was seen with the boom of the DeFi. It is running since Q4 2020 in its - Phase 1 (Minimum viable product) en la red de ETH and it is in this part where the developers allow themselves to make a small test of a product or idea that is believed to be able to revolutionize the world and after investing time and large amounts of money we realize that it is not really interesting and when we see that it is not Progress is being made in the achievement of the objectives and it was only a waste of time and that is why this part is extremely important and now that we know where the first steps are being taken, we could talk about where they want to go in a short period of time and this is where another point arises that I will try to briefly address although I think it is excellent that it wants to migrate to the network of Polkadot and it is that it can be said that it is the competitor next to Cardano closest that ETH has even though it is still in a start-up period and work is not quite ready but it promises a world of opportunities with the Parachains and news is expected of his first major project which is Kusama so both Polkadot and Cardano are a technological advance in what are known as third-tier technologies in cryptocurrencies andblockchain, Being the BTC of the first level and the ETH of the second level, these are coming with a wider range of opportunities to new projects, I will leave you some links in the route of this analysis where I recommend you visit to learn a little more about them.
So, going back to the analysis of the project and without further ado, I can only tell you that it is about Polkastarter, This project has been on the market for a short time and as I already told you, it is running on the ETH blockchain in its experimental phase.DEX Or rather a decentralized exchange that came to change the way business was done and that protects our money at all times since it is never in the hands of third parties and we always have control of it, allowing direct trade between users.
If we visit their page we see that they describe it as a product created to carry out auctions and groups of tokens between chains, allowing in this way that, for example, different blockchains such as BSC,ETH, CARDANO, can communicate and interact with each other, in addition this project can be very useful if you are an entrepreneur with a brilliant idea but without capital through Polkastarter you could raise funds in a decentralized way, without permits and interoperable thanks to Polkadot technology. It is also said that in the not too distant future it will be possible to obtain those resources to start our Startup through the Crowdfunding although it is not possible yet.
From this first part we must observe that one of the most important points they offer is the possibility of making exchanges between chains thanks to the Polkadot ecosystem and it is in this part where we are going to see the first point that catches the user's attention since we can obtain a higher return per transaction being faster and cheaper while staying connected to ETHEREUM and other blockchain to maintain liquidity.
The world of DeFi (decentralized finance) has shown us with facts that there are ways to manage our money in a more efficient way without having to lose control of it and it has shown it UNISWAP Just to cite an example of a millionaire business that contributes thousands and billions of dollars in volumes of cryptocurrency operations, climbing the latter with its currency to the top 10 market capitalization.
One of the biggest problems that the user encounters is that the commissions of the ETH network are very high and if I see in a project the possibility of being able to do the same and in a more economical way, we will surely follow it closely and we will support for its growth.
Another aspect to take into account is the process of ETH 2.0 and everything that has taken time to run the update and that changes that it offers Vitálik Buterin but that still do not arrive leaving the user with a discouragement by the network and its deficiencies.
In a world that is in constant globalized technological movement and with financial opportunities available to everyone, a company that offers quick responses and management between different chains in a timely and efficient manner is another point in favor of Polkastarter.
Well before continuing we must comment that this project has its own cryptocurrency called POLS with the following information:
Polkastarter Coin: POLS
Currency range: 143 Según coimarketcap
Smart contract: 0x83e6f1e41cdd28eaceb20cb649155049fac3d5aa
Market capitalization: 291,916,937 USD
Coins in circulation: 60,295,000
Coins in circulation:: 100.000.000 según Coingecko
value after full dilution: 483.574.321 USD
This coin has a value for the date of completion of the post of 4.69 USD and its lowest value can be observed 0.1164 USD on October 29, 2020 and its maximum value of 7.51 USD this happened on February 16, 2021.
This means that we have a company that offers a product with some advantages over its competition in the market and that we can also have access to a cryptocurrency with a future.
This project was launched in October 2020 as an alternative for projects to raise capital for its implementation in a decentralized environment.
Inclusion in exchanges.
On January 14, POLS was only available on UNISWAP and POLONIEX. In the beginning, their liquidity was very limited and the high gas rates in ETH was an obstacle that they had to face since this slowed down the investor when making a decision regarding investing in the currency.
One of the factors that was of great help is the announcement given by HUOBI to include POLS among its list of tokens that triggered its trading volume from $ 2 million to $ 22 million in one day.
Listing POLS on another high-volume exchange has the potential to further drive the price of the token as more people will have access to one of the fastest growing Polkadot-based projects.
Use of the product or service.
The product has a utility that is to offer the opportunity to raise funds on a platform to be able to start your project, in addition to that you must see the low commissions, a quick response, the connection to other chains and technological ecosystems, a cryptocurrency, management and control of your funds, the same will migrate to a blockchain with a great future such as Polkadot, it manages its cryptocurrency and is an exchange platform is just a summary of the advantages and benefits that we have talked about so far later you will see that there are many more things that make it a good option.
There are some factors that must be taken into account when investing and these have to do with the vision of the project in the short, medium and long term and if we know that the success of Polkadot has benefited this project, we must also talk about some of its business partners and that the success of these partners will largely depend on the future of Polkastarter, then I will briefly talk about them:
Covalente: Provides a unified API to provide full transparency and visibility to assets across all blockchain networks. One of the use cases is looking for intricate details about a crypto wallet.
This functionality allows Polkastarter users to verify how trustworthy a token contract is. Covalent gives users access to the volume of transactions, verifications and the age of the token contract, among other details.
DIA: As its name says, it is a decentralized information asset that provides distributed oracles to the Polkastarter platform. These reliable and accurate oracles help Polkastarter provide warnings of a potential large price slide.
Other notable partnerships between Polkastarter and other projects include Rayo de Luna for interoperability between chains, Shyft for its whitelisting solution, andProtocolo de Orión for its automated provision of liquidity.
On the other hand, there are two projects that are attracting a lot of public attention and they are:
SuperFarm: It is a cross-chain DeFi protocol that began to run on February 22, 2020 and corresponds to its first steps in the NFTs and its success will depend on its developers being able to meet the objectives set correctly. Said by themselves it is a cross-chain protocol that allows anyone to implement DeFi and NFT farms with no code required. Twitter
Unido: It is no secret to anyone that blockchain is here to stay and that technological evolution cannot go unnoticed and many entrepreneurs in banking and common finance are already taking their first steps and are trying to achieve a fusion of tools that facilitate things for users and that in turn is a millionaire business this is the case of which I mention the promise is to facilitate companies the possibility of investing in crypto assets in an easier and safer way. Twitter
The popularity of the Polkadot network helps Polkastarter so that many more people want to join this project that since its inception until March 19, 2021 there are more developers and entrepreneurs who want to join this network that promises a future with very good earnings.
Successful auctions and token launches.
Initial Coin Offerings (ICO)gain momentum Polkastarter is part of that since many investors are waiting for good projects to support and multiply their investment and entrepreneurs have this space available in Polkastarter since its protocol is designed to enable token pools and auctions between chains as a method to obtain capital in a decentralized way.
As of today we can see that 12 decentralized initial Exchange offerings and 20 different pools consisting of public and private offerings have been executed. To date only one pool has not been depleted.
The acceptance of DOT by users, companies and developers has only increased the desire of projects that want to be part of the Polkadot family, its popularity is known and its benefits compared to the Ethereum network as well.
List of initial decentralized exchange offerings on Polkastarter. Source: Polkastarter
Tosdis, The most recent IDO held on Polkastarter, tweeted the following after its successful auction as an example of the platform's growing popularity:
“We are really delighted to announce that our IDO on Polkastarter is out of stock. The POLS pool was depleted in a record 30 seconds. After fixing some gas and overload problems, the public pool was depleted in 90 minutes. We are overwhelmed by the support. Thanks”. Twitter
There are many projects that can offer cryptocurrency exchanges and the competition is strong if we look at the following graph we can see how Polkastarter differs from the rest in its role as an intermediary so that the user without losing control of their crypto-assets can take it to the currency you want:
The chart speaks for itself since Polkastarter offers pool services among other chains, it has a governance model, a fixed pool, a white list. This means that within its platform a user can decide through governance the next projects to be executed and according to the currencies you have in staking you can decide the future of the platform and if what you want is to invest some money you can give liquidity to the pairs of currencies you want and that generates a profit that comes out of the commissions for the exchange and is distributed among all the carriers of liquidity.
I will briefly explain the different ways to earn money in Polkastarter or the most common that you can have as a user:
Token exchanges between LP chains (Liquid Pools): Swaps are carried out in a dynamic way and in this way we can see that the main objective of the MVP is to be a fully functional fixed exchange platform for groups of tokens. ERC20, creating a market that links group builders and liquidity providers. Group creators will be able to create and launch fixed token exchanges in a permissionless environment. Liquidity providers will be able to earn and transact in these new tokens.
The start with fixed exchange groups solves one of the problems that currently exists with UNISWAP and that is that as an exchange from day to day they are excellent, the same cannot be said for the sale of new tokens since it is impossible to compete with the algorithm of a bot that buy all the initial liquidity leaving out the common user and here another of the advantages of polkastarter that will allow a stable, organized and fair token exchange infrastructure.
Liquidity Mining or Staking (PoS): We know that there are new ways to generate profits from your cryptocurrencies and mining as it was known with the launch of Bitcoin(PoW) It is a form of the first cryptocurrencies in level 1 where high-tech equipment and large electrical consumption were required, this has been left behind and has been displaced by mining through Staking, which is nothing more than taking your cryptocurrencies to the project and depositing them there for a while and that way you can collaborate with its development and in turn generate a passive income for the support given, the platform to encourage this function offers the following:
“They are launching a liquidity mining program at the same time as the MVP launch on Ethereum later this year. As in the big DeFi projects like Synthetix y Balancer, This program will distribute a fixed amount of POLS tokens daily. All liquidity providers will receive POLS of this still undetermined fixed amount on a pro-rata basis. For example, if there is 1000 ETH in a fixed exchange volume over 24 hours, a user who contributed 100 ETH of that volume will receive 10% of the total daily liquidity rewards”
Governance and fees.
Token holders will be able to vote on product features, token utility, auction types, and even decide which projects will appear on Polkastarter. Transaction fees will be paid in POLS.
Staking for governance.
Polkastarter's governance framework aims to build a robust and sustainable protocol for development and use. POLS holders will be able to vote for ecosystem initiatives, new feature development, liquidity rewards distribution specifications, and other applications.
Tabla Route Map
The project has a team with more than 30 years of technological experience, a group of entrepreneurs passionate about development and eager to want to innovate in the world of cryptocurrencies, which we will begin to know in an ascending way:
Daniel Stockhaus Co-founder & CEO
If we check their social networks a bit we see that although he is not linked to large-scale projects in the past, you can see a person who has always been in the world of technology, among his followers we see people who are developers and lovers of blockchain and technology. cryptocurrencies more than 6,000 people follow him on Twitter not bad for a personal account.
In other of your social networks as it is Linkedin We can see that he has studies in the area of communication and that he has been part of online businesses until he created Polkastarter.
If we were to take a few keywords from your profile I am struck by it being described as:
Digital leader - strategic - electronic commerce - innovative - dynamic - use of resources - digital marketing - entrepreneur - technology expert.
Studies and work experience:
University: Martin-Luther-Universität Halle-Wittenberg
Bachelor of Communication 1995-1999
position Digital Media Design.
Dates of employment: sept 1999 - sept 2000
Duration of employment:1 year and 1 month
Achievements: Digital media design. Website design and development for Fortune 500 companies.
Dates of employment: 2004 – 2018
Duration of employment:14 años
Achievements: E-commerce with 5.5 million annual visitors and an annual turnover of up to 20 million dollars. Built from the ground up and profitable from day one of launch. liGo specializes in technology and telecommunications products.
Business: Oliphaunt Ltd
Dates of employment: 2000 – oct 2019
Duration of employment:19 years
Achievements: In this company of which he is co-founder, they are sold as an agency that helps clients grow in the digital world, their products can range from the creation of an e-commerce website and the creation of a digital marketing campaign and described in the company portal as being able to:
- In-house product design and development teams, experts in rapid project life cycles.
-Champion of e-commerce and the first to adopt the latest technologies.
-Design and branding initiatives that lead to significant sales growth and customer retention.
-Specialist in SEO and digital marketing, transforming the customer focus and driving sales within days of starting the project implementation.
-Altered agency culture and associated clients in business growth and profit maximization.
-Custom back office development, including site finance, operation and management.
Daniel Stockhaus Co-founder & CEO
Tiago Martins Co-founder & CTO
Passionate product creator and senior software engineer He has been a university professor in computer science he has been involved in digital business, developing digital businesses by creating companies with influential people in the world of aviation, digital commerce and networks of communication.
University studies and work experience.
Universidad: Universidad de Hertfordshire
BSc Hons Academic Discipline Informatics 2009 - 2012
Business: 1View Solutions Ltd
Cargo: Backend Developer.
Note: “Professional internship contract”
Dates of employment: may 2011 - sept 2011
Duration of employment: 5 meses.
position: Programming teacher.
Note:CodeplaceSite not available on linkedin.
Sitio Web: Codeplace.
Dates of employment: ene 2013 - sept 2017
Duration of employment: 4 years and 9 months
Achievements:was the first online programming school to teach people to code using project-based education methodologies. Increased equipment to 20 FTE. Got a user base of 100,000+ happy students from 100+ countries.
Empresa: Code Academy
Position: Computer Science Professor.
Note: More than 5,000 followers on LinkedIn.
Dates of employment: dic 2017 - mar 2019
Duration of employment: 1 year and 4 months.
Philosophy: Bringing talented minds out of unemployment.
Position: Product Manager.
Dates of employment: may 2018 - may 2019
Duration of employment: 1 year and 1 month.
Achievements:Together with his team, he built a leading company in cryptography research and education.
Business: BEPRO Network
Position: Product advisor.
Note:More than 2000 followers on LinkedIn.
Dates of employment: abr 2019 - sept 2019
Duration of employment:6 months
Achievements: Working on building the future of DeFi Gaming.
Business: Coflyt ™
Position: Lead Developer.
Note:Less than 200 followers on LinkedIn.
Dates of employment: jun 2019 - sept 2020
Duration of employment: 1 year and 4 months.
Achievements: I work with his team on building the premier general aviation aircraft management platform.
Website Coflyt ™
Note:Profile on LinkedIn with more than 500 contacts.Ver
Tiago Martins Co-founder & CTO
Position in Polkastarter: Advisor.
Danilo Carlucci is a goal-oriented, self-disciplined, high-integrity, performance-driven leader with outstanding interpersonal skills and a proven track record of success at increasing levels of responsibility and authority.
He is a person with a long academic career and very broad experience has worked in Google in charge of the community of the United States and the United Kingdom, investor in a company such as Rolex, Founder and CEO of the company Alpine Global Consulting, business Amazers GmbH
Perfil de LinkedIn Danilo Carlucci
Danilo Carlucci Advisor
Position in Polkastarter: Advisor.
He is a person with a very broad experience, it could be said that he is the most prepared profile of the project, Matthew has experience in capital markets and IT, and specializes in business development and corporate financing for emerging companies and new technologies.
Over 20 years of real-time network / embedded systems (wired and wireless) management, development and support in C / C ++, including extensive interaction with a worldwide customer base.
I always seek to stay close to technology, especially embedded systems.
Specialties: Expert in customer training and support, through on-site and hosted training sessions and phone / email / web sales / technical support. I also enjoy managing / mentoring people, both individual collaborators and other managers.
He do university studies in Instituto de Tecnología de Rochester obtaining the degree of Bachelor of Computer Science in the year 1998 - 2002
If you could name some areas in which he has been involved, they would be:
Radio - interpersonal / business communications - Development of the Kernel basic for C operating systems - programming - music director, DJ - coach of Campus radio station.
His work experience has been hand in hand with companies such as:
Matthew Dibb Advisor
Deciding correctly on an investment is the objective of every investor but everything will depend on knowing how to detect those details that can make a lot of money be won or lost, as you can see, I will tell you about my analysis regarding the Polkastarter project and if we observe there are many things that can attract our attention and I will summarize them very briefly since we talked a little about them throughout the publication:
1.-It is a DeFi platform with an exchange that has some advantages compared to others such as Uniswap.
2.- It will serve as a link with other chains and migrate to a blockchain with a great future such as Polkadot.
3.- It is a point of support for all those entrepreneurs, since through it we can seek financing and start our project.
4.- It has different ways of making money either by Staking, giving liquidity to the pairs and its currency promises in the future for the usefulness of the platform.
5.- Having the coins frozen within the platform can generate money and at the same time gives you the right to comment on future projects since it is governed by a governance system.
And well, so far my analysis, I consider that when studying a project it is something of a lot of dedication and attention since you must go to the minimum and even then it does not guarantee the success of our investment but at least it minimizes it, thank you very much for your reading and it will be until next time your friend @electrodo says goodbye with much affection.
Project links and other annexes, Sources:
Polkastarter Whitepaper (October) Twitter Polkastarter Coinmarketcap polkastarter Sitio web polkastarter Contrato polkastarter etherscan Blog polkastarter Twitter Polkadot Twitter web 3 summit Twitter web 3 foundation Polkastarter noticia cointelegraph Polkastarte coingecko Polkastarter telegram Polkastarter Linkedin Polkadot Linkedin Discord Polkadot Github Polkadot Informacion ETH wikipedia Pagina ETH Pagina Cardano Pagina Kusama ¿Qué es una Blockchain? ¿Qué es un intercambio descentralizado? Binance Smart chain Startup Crowdfunding Pagina Uniswap ETH 2.0 Vitálik Buterin Mercado Polkastarter Pagina coinmarketcap Coingecko Poloniex Huobi Socio Polkastarter “COVALENT” Socio Polkastarter “DIA” Socio Polkastarter “RAYO DE LUNA” Socio Polkastarter “SHYFT” Socio Polkastarter “PROTOCOLO DE ORION” Pagina Superfarm Twitter Superfarm Twitter Unido Pagina Unido Wikipedia ICO Coinmarketcap Tosdis Twitter Tosdis Finance ERC-20 BOTS en las exchange PoS PoW Synthetix Balancer Twitter Daniel Stockhaus Co-founder & CEO Front-office Back-office SEO Universidad de Hertfordshire 1View Solutions Ltd Codeplace Academia de Código Coinvision BEPRO Linkedin Coflyt ™ Pagina Coflyt ™ Perfil Linkedin Tiago Martins Co-founder & CTOGoogle Wikipedia Empresa Rolex Perfil Linkedin Empresa Alpine-global-consulting Perfil Linkedin Empresa Amazers Perfil Linkedin Danilo Carlucci Advisor Instituto de Tecnología Rochester Kernel Perfil Linkedin Empresa Silicon Labs Perfil Linkedin Empresa Ember Perfil Linkedin Empresa Sky-Skan, Inc Perfil Linkedin Empresa ABB, Inc Perfil Linkedin Matt Dibb Advisor
Some followers on the project's networks:
Blessings to all on this day @electrodo.