Learning the friendly way

Cryptocurrencies derive their value from supply and demand, with the buyers and sellers playing an enormous role in the market's liquidity, and ultimately, success. This rings true for stocks, commodities and forex markets too, essentially any asset markets with trading volumes.

Anyone participating in these markets will have been a maker or a taker at some stage, most likely, both. In this article, we're breaking down the concept of makers vs takers, exploring their vital role in the market and large quantities of these result in stronger exchanges. 

Liquidity Explained

Before we dive in, let's first cover an important concept: liquidity. Assets can sometimes be described as liquid or illiquid, this simply refers to how easily the asset can sell. Gold is a prime example of a liquid asset as anyone could easily trade it for cash without any hassle, while a glass statue of your neighbour's cat would be an illiquid asset as the chances of anyone wanting to own it are slim (except for the neighbour, maybe). 

Building on this, market liquidity indicates how liquid a market is. A liquid market means that the asset is in high demand, traders are actively looking to acquire the asset, while also having a high supply, meaning that traders are actively looking to offload the asset. An illiquid market then means that there is low supply and demand, making it difficult to buy or sell the asset for a fair price.

In a liquid market where there are many traders looking to buy and sell an asset, the sell order (ask price) tends to be in the same region as the buy order (buy price). Typically, the lowest sell order will be the same as the highest buy order, creating a tight buy-ask spread. 

Now that we've covered liquidity, it's time for makers vs takers. 

What Is The Difference Between Market Makers And Market Takers?

As mentioned above, any successful exchange requires a fair amount of makers and takers. Let's explore the difference between the two below. 

Market Makers

Exchanges typically use an order book to conduct trades. The order book will store offers to buy and sell as they come in, and execute the trades when the criteria are met, i.e. someone could create an offer that says when Bitcoin reaches $40,000, buy 4. When the BTC price reaches $40,000, the order book with automatically execute this trade. 

In this case, the person creating this buy order is known as a maker. They are essentially "making" the market by announcing their intentions ahead of time via the order book. While many retail investors are makers, the field is typically made up of big traders and high-frequency trading institutions. 

A market maker is a liquidity provider. ‍

Market Takers

Market takers are then liquidity "takers", removing liquidity from the market. Takers create market orders that indicate to the exchange that the trader wants to buy or sell at the current market price. The exchange will then automatically execute the trade using a maker's offer.

A taker is a trader filling someone else's order. Market makers create offers for the order book, making it easier for users to buy and sell, while market takers exercise this liquidity by buying the asset. 

What Are Maker-Taker Fees?

You might have heard of maker-taker fees before, this makes up a considerable amount of how exchanges generate an income (after all, exchanges are businesses that need to make money). When an exchange matches a maker and a taker, they will take a small fee for the efforts on their part. This fee will differ from exchange to exchange, and will also be dependent on how big of a trade it is. 

As makers are providing liquidity to the exchange (an enticing attribute for any trading platform) they will pay lower fees compared to a trader taking away from the platform's liquidity. Always be sure to check the fee structure and pricing on a platform before engaging in any trading activity, these will be outlined in the platform's trading policy.

How Do Trading Companies Make Money?

Cryptocurrency and blockchain technology was designed to provide a decentralized financial system that bypasses government control. However, to alleviate regulatory concerns, exchanges were established to provide a reliable and convenient means of operating within the crypto markets. These exchanges provide a secure way in which users can buy, sell and trade cryptocurrencies, and in return make money through the activities of its customers as it is a business after all.

While maker and taker fees make up a large portion of how a platform generates an income, the business also generates income through deposit and withdrawal fees, commissions made on trades and listing fees. These typically make up the cost of production and running the business.

In Conclusion

Market makers contribute to the market's liquidity by creating orders looking to be filled, while market takers fill these orders. Makers are typically rewarded for bringing liquidity to a platform with low maker fees, while takers pay higher fees when they make use of this liquidity, easily buying and selling the asset. 

Πληρωμές σε crypto: Ανοίγοντας τις πόρτες της παγκόσμιας αγοράς εργασίας

Το να πληρώνεσαι σε κρυπτονομίσματα έχει αλλάξει εντελώς τον τρόπο με τον οποίο εργάζονται freelancers και remote εργαζόμενοι. Δεν χρειάζεται πια να είσαι στην ίδια χώρα – ή ακόμα και στην ίδια ήπειρο – με τον εργοδότη σου. Οι δουλειές που πληρώνουν σε crypto είναι όχι μόνο πιο προσιτές αλλά και όλο και πιο αποδεκτές.

Ας δούμε πρώτα μερικά από τα βασικά πλεονεκτήματα των πληρωμών μέσω blockchain.

Τα πλεονεκτήματα του να πληρώνεσαι σε crypto

Η ραγδαία εξέλιξη της τεχνολογίας blockchain έχει ενσωματώσει τα crypto στις παραδοσιακές αγορές εργασίας. Από εποχιακά project μέχρι full-time ρόλους, μπορείς πλέον να πληρώνεσαι σε ψηφιακά νομίσματα.

Οι πληρωμές σε crypto προσφέρουν:

• Ταχύτητα: Οι μεταφορές ολοκληρώνονται μέσα σε λίγα λεπτά, χωρίς τραπεζικές καθυστερήσεις.
• Χαμηλά κόστη: Οι προμήθειες είναι σημαντικά χαμηλότερες, διευκολύνοντας και τα μικρά projects.
• Παγκόσμια προσβασιμότητα: Οποιοσδήποτε, από οπουδήποτε, μπορεί να εργαστεί και να πληρωθεί, χωρίς σύνορα ή συναλλαγματικά εμπόδια.

Ειδικά για freelancers, που μετά την πανδημία στράφηκαν μαζικά στην απομακρυσμένη εργασία, η δυνατότητα διεθνών συνεργασιών με άμεσες πληρωμές αποτελεί τεράστιο πλεονέκτημα.

Πού θα βρεις δουλειές που πληρώνουν σε crypto

LaborX

Μια πλατφόρμα τύπου job board που συνδέει εργοδότες με υποψηφίους για προσωρινές και μόνιμες θέσεις. Υποστηρίζει πληρωμές σε διάφορα crypto και διαχειρίζεται από εταιρεία blockchain με έμφαση στις HR λύσεις.

Jobs4Bitcoins

Μια Reddit κοινότητα (r/Jobs4Bitcoins) όπου μπορείς να βρεις δουλειές ή να προσφέρεις τις υπηρεσίες σου. Δεν υπάρχει επίσημος έλεγχος εργοδοτών ή υποψηφίων, οπότε χρειάζεται προσοχή, αλλά οι ευκαιρίες είναι πολλές.

Blocklancer

Πλατφόρμα για εύρεση εργασίας με πληρωμές σε Ethereum. Μπορείς να το ανταλλάξεις εύκολα μέσω της Tap app σε άλλο crypto ή ευρώ. Ιδανική για ειδικότητες όπως content creators, αναλυτές, ειδικοί blockchain.

Bitfortip

Αν προτιμάς κάτι πιο casual, μπορείς να λαμβάνεις tips σε Bitcoin ή άλλα crypto (όπως BCH, NANO, Tezos) απλώς προσφέροντας χρήσιμες ιδέες ή συμβουλές σε ερωτήσεις άλλων χρηστών.

PompCryptoJobs

Μια επαγγελματική πλατφόρμα που ενώνει job seekers με startups και εταιρείες του crypto χώρου. Από data science μέχρι copywriting, θα βρεις πολλές θέσεις πλήρως αμειβόμενες σε crypto.

Πώς να πληρωθείς σε crypto

Αναρωτιέσαι πώς να λάβεις τα χρήματά σου σε Bitcoin ή άλλο κρυπτονόμισμα; Η εφαρμογή Tap έχει την απάντηση.

Δημιούργησε έναν λογαριασμό στο Tap και πάρε άμεσα πρόσβαση σε crypto wallets και τραπεζικούς λογαριασμούς. Απλώς δίνεις στον εργοδότη σου τη διεύθυνση του wallet σου και μόλις σταλούν τα χρήματα, εμφανίζονται στο app σου μέσα σε λίγα λεπτά (ανάλογα με το δίκτυο).

Μπορείς ακόμα να χρησιμοποιείς την κάρτα Tap για να πληρώνεις λογαριασμούς ή καθημερινές αγορές με τα crypto ή ευρώ που έχεις στο λογαριασμό σου – εύκολα και γρήγορα.

Κλείνοντας

Η εργασία και οι πληρωμές σε crypto δεν είναι πια σενάριο επιστημονικής φαντασίας. Με εργαλεία όπως η Tap και τις νέες job boards που στηρίζουν πληρωμές σε ψηφιακά νομίσματα, μπορείς να μπεις άμεσα στον κόσμο των crypto jobs.

Μήπως ήρθε η στιγμή να πληρωθείς στην οικονομία του μέλλοντος;

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When it comes to navigating the cryptocurrency markets, staying informed and staying away from FUD can oftentimes be more complicated than one might imagine. In this article, we're going to guide you through how to recognize FUD in the blockchain space and how to avoid it. 

Since Bitcoin entered the scene in 2009, the crypto markets have seen their fair share of ups and downs. Although it's true that each market downturn has been followed by a recovery and considerable development, experienced and novice traders alike may find that times of decline are difficult to navigate. Particularly with the rise in FUD.

Before we cover the tools of the trade to recognize and avoid FUD, let's first cover what FUD is exactly.

What is FUD?

FUD in the cryptocurrency realm stands for Fear, Uncertainty and Doubt. This term is used to refer to inaccurate information released by people who wish to manipulate the markets. Releasing FUD content is intended to influence a trader to make decisions that might affect the cryptocurrency's price or their holdings in some way (usually encouraging them to sell).

While commonly used against Bitcoin, Ethereum and other cryptocurrencies are also targeted. FUD typically leads to investors selling off their coins, leading to a panic sell which snowballs and results in a significant loss in value for the coin. 

Often mentioned alongside FUD is the term FOMO, Fear Of Missing Out. FOMO is centered around the fear of people missing out on profits, leading them to make quick decisions that aren't necessarily the best ones. While FUD tends to instigate selling an asset, FOMO tends to drive traders to buy an asset. Essentially, these two terms are designed to tap into human emotions that lead to quick decisions. 

FUD is typically released through a rumor published on a well-respected website, a negative news item, or a well-known figure expressing concerns about a certain asset (commonly done over Twitter ). Content surrounding FUD and FOMO tend to be from organizations or individuals that have something to gain from the intended action. The content is designed to strongly influence the reader. 

FUD and FOMO aren't strictly related to the crypto market, such tactics have also been witnessed in the stock market and other commodity trading spaces. The jargon has become synonymous with trading. 

How to recognise FUD

The crypto community might seem tight-knit but there are often ill-actors that gain access to the trusted space and infiltrate it with bad news. This is often seen when people use a commonly discussed topic, such as regulation, to build a narrative that isn't necessarily true to influence traders. 
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Here are several tips to ensure that you don’t fall victim to FUD:

Establish a trading goal 

Before you enter the crypto market ensure that you have definitive goals, with accompanying timelines. When faced with FUD or FOMO information, consider if the resulting actions of this news will move you closer to your goal or further away. If you stay focused on your goal you are less likely to be swayed by market sentiment. 

Build a trading strategy before entering a trade

A trading strategy generally involves determining a stop loss, entry point, target sell point, and amount of capital. By establishing this before entering the trade, you will have clear objectives to follow and be less likely to fall victim to FUD-centered misinformation. 

Stay informed, but verify sources

Keeping an eye on the crypto markets and staying informed is imperative for any trader, especially day traders. Ensure that the places that you acquire your information from are reputable and legitimate, and if something sounds suspicious, verify it through a number of other sources. 

Be patient and consistent

Engaging in crypto trading involves making well-informed decisions based on market trends and supporting technology. Rather than seeking rapid financial gains, it's important to maintain patience and consistency in working toward your goals, while staying focused on your intended path.

Navigating FUD

Despite this sounding difficult, FUD is easily avoidable if you stick to these tips above and only seek information from reliable news sources. While Twitter may have quick tips, it's also hard to determine what the author's intentions are.

Consider whether something sounds accurate or not, and always conduct your own research when considering involvement in a new project. From a financial standpoint, participating in digital currency can be a profitable endeavor, so be sure to act responsibly and observe market trends with a critical perspective.

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As we explore the world of crypto assets, we take a look at the different types of crypto assets on the market and at the wide range of diversity in the new-age industry. As more people enter the market and start exchanging digital assets, the industry grows and expands to allow new variations.

Below we explore the vast diversity in the industry, from crypto assets used as money to ones that reward users for viewing a website. Each business offers a unique solution, and to navigate this we offer you guidance below.

What Are Crypto Assets?

The terms "crypto asset" and "cryptocurrency" can be used interchangeably. They both refer to a digital asset built using blockchain that can be transferred in a direct peer-to-peer manner. The first crypto asset to launch is Bitcoin, which entered (and created) the scene in 2009. Since then thousands of crypto assets have been created, each one with its own unique use case.

The Different Types Of Crypto Assets

While crypto assets might fall into one or more categories, each has its own set of rules and use cases. 

Payment-Focused

These crypto assets can be used to pay for everyday goods and services or as a store of value (in some cases). These include the likes of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), etc.

Stablecoins

Stablecoins are crypto assets that have their value pegged to a fiat currency or commodity. These crypto assets are designed to bypass the volatility synonymous with the crypto market. These include the likes of Tether (USDT) and USD Coin (USDC).

Privacy Coins

Privacy coins are digital assets that hide details of the transaction, such as the origin, destination and amount. These crypto assets offer untraceable monetary transfers. These include the likes of Monero (XMR) and ZCash (ZEC).

CBDCs

Central Bank Digital Currencies (CBDCs) are crypto assets built and maintained by banks. Used as digital currencies alongside the traditional currency, CBDCs are designed to provide a digital version of the local fiat to which the value is pegged. 

Governance Tokens

Common among decentralized finance (DeFi) protocols, governance tokens provide holders with a say in the platform and in future updates. 

Utility Tokens

Utility tokens will typically provide a service to the holder on the platform on which it was created. Commonly created using the ERC-20 token standard, utility tokens might represent a subscription on a platform or a use case specific to that ecosystem. 

Non-Fungible Tokens

Non-fungible tokens, also known as NFTs, are crypto assets that cannot be used interchangeably and instead hold unique and rare properties. Each NFT represents a singular function that cannot be changed.

How Are Crypto Assets Created And Distributed?

Before crypto assets are created the project's intentions are generally circulated through a white paper. In this white paper, the asset's tokenomics will be outlined which will cover how the asset is created and distributed.

Bitcoin, for example, uses a Proof of Work consensus which means that new coins are entered into circulation through miners solving complex mathematical problems. The network was designed to only ever have 21 million coins created, and new coins are slowly entered into the system each time a miner verifies and adds a new block to the blockchain. 

Ethereum on the other hand has no limit to the number of ETH that can be created. The platform is currently moving from a PoW to a Proof of Stake consensus, which alters the way in which transactions are verified, however, new coins still enter circulation through verifying transactions. 

XRP minted all its coins prelaunch and slowly release them into the system through a central authority while Tether creates USDT on demand. For each $1 sent, 1 USDT is created, which can later be removed from circulation should it be sold. 

The Future Of Crypto Assets

With the ICO Boom in 2017, the DeFi boom in 2020 and the more recent NFT Craze, crypto assets aren't going anywhere. With constant innovation and increasing adoption, crypto assets have become an integral part of the modern day financial landscape.

While mainstream adoption is on the rise, a few wrinkles still need to be ironed out. For one, regulatory bodies around the world are working toward creating legal frameworks in which these crypto assets can exist, while centralized banks are exploring whether CBDCs can co-exist with their physical counterparts. While the world seeks to figure these out, one this is for certain: crypto assets are here, and the industry is becoming bigger by the day. 

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The financial world is undergoing a significant transformation, largely driven by Millennials and Gen Z. These digital-native generations are embracing cryptocurrencies at an unprecedented rate, challenging traditional financial systems and catalysing a shift toward new forms of digital finance, redefining how we perceive and interact with money.

This movement is not just a fleeting trend but a fundamental change that is redefining how we perceive and interact with money.

Digital Natives Leading the Way

Growing up in the digital age, Millennials (born 1981-1996) and Gen Z (born 1997-2012) are inherently comfortable with technology. This familiarity extends to their financial behaviours, with a noticeable inclination toward adopting innovative solutions like cryptocurrencies and blockchain technology.

According to the Grayscale Investments and Harris Poll Report which studied Americans, 44% agree that “crypto and blockchain technology are the future of finance.” Looking more closely at the demographics, Millenials and Gen Z’s expressed the highest levels of enthusiasm, underscoring the pivotal role younger generations play in driving cryptocurrency adoption.

Desire for Financial Empowerment and Inclusion

Economic challenges such as the 2008 financial crisis and the impacts of the COVID-19 pandemic have shaped these generations' perspectives on traditional finance. There's a growing scepticism toward conventional financial institutions and a desire for greater control over personal finances.

The Grayscale-Harris Poll found that 23% of those surveyed believe that cryptocurrencies are a long-term investment, up from 19% the previous year. The report also found that 41% of participants are currently paying more attention to Bitcoin and other crypto assets because of geopolitical tensions, inflation, and a weakening US dollar (up from  34%). 

This sentiment fuels engagement with cryptocurrencies as viable investment assets and tools for financial empowerment.

Influence on Market Dynamics

The collective financial influence of Millennials and Gen Z is significant. Their active participation in cryptocurrency markets contributes to increased liquidity and shapes market trends. Social media platforms like Reddit, Twitter, and TikTok have become pivotal in disseminating information and investment strategies among these generations.

The rise of cryptocurrencies like Dogecoin and Shiba Inu demonstrates how younger investors leverage online communities to impact financial markets². This phenomenon shows their ability to mobilise and drive market movements, challenging traditional investment paradigms.

Embracing Innovation and Technological Advancement

Cryptocurrencies represent more than just investment opportunities; they embody technological innovation that resonates with Millennials and Gen Z. Blockchain technology and digital assets are areas where these generations are not only users but also contributors.

A 2021 survey by Pew Research Center indicated that 31% of Americans aged 18-29 have invested in, traded, or used cryptocurrency, compared to just 8% of those aged 50-64. This significant disparity highlights the generational embrace of digital assets and the technologies underpinning them.

Impact on Traditional Financial Institutions

The shift toward cryptocurrencies is prompting traditional financial institutions to adapt. Banks, investment firms, and payment platforms are increasingly integrating crypto services to meet the evolving demands of younger clients.

Companies like PayPal and Square have expanded their cryptocurrency offerings, allowing users to buy, hold, and sell cryptocurrencies directly from their platforms. These developments signify the financial industry's recognition of the growing importance of cryptocurrencies.

Challenges and Considerations

While enthusiasm is high, challenges such as regulatory uncertainties, security concerns, and market volatility remain. However, Millennials and Gen Z appear willing to navigate these risks, drawn by the potential rewards and alignment with their values of innovation and financial autonomy.

In summary

Millennials and Gen Z are redefining the financial landscape, with their embrace of cryptocurrencies serving as a catalyst for broader change. This isn't just about alternative investments; it's a shift in how younger generations view financial systems and their place within them. Their drive for autonomy, transparency, and technological integration is pushing traditional institutions to innovate rapidly.

This generational influence extends beyond personal finance, potentially reshaping global economic structures. For industry players, from established banks to fintech startups, adapting to these changing preferences isn't just advantageous—it's essential for long-term viability.

As cryptocurrencies and blockchain technology mature, we're likely to see further transformations in how society interacts with money. Those who can navigate this evolving landscape, balancing innovation with stability, will be well-positioned for the future of finance. It's a complex shift, but one that offers exciting possibilities for a more inclusive and technologically advanced financial ecosystem. The financial world is changing, and it's the young guns who are calling the shots.