TheCryptoUpdates
News

Survive The Current Crypto Rout With Bitcoin (BTC) And Underdogs Basic Attention Token (BAT) & Quitriam Finance (QTM)

The current extreme volatility across the crypto market led to a generalised selloff over the past three weeks, making 2022 one of the worst years for cryptocurrencies so far. In that context, this article will share some ideas on how to best handle the current situation by seeking refuge in blue-chip cryptocurrencies.

Bitcoin (BTC)

Bitcoin (BTC) needs no introduction anymore, as the oldest cryptocurrency in existence and the largest one by market capitalization, with a market cap surpassing $500 million. Still today, Bitcoin boasts a 44% market dominance, despite the generalised cryptocurrencies selloff.

 

However, this dominance is on the decline, due to two primary factors:

(1) The secular expansion of the crypto market, which increased in size exponentially over the past years, with thousands of new cryptocurrencies and tokens being created, and (2) the emergence of Ethereum (ETH) as the leading smart contract and application-building platform, which claims a 19% market dominance and represents fierce competition against Bitcoin.

As such, the decline in Bitcoin’s market dominance is not so much due to a structural issue within Bitcoin itself, as it is to external circumstances happening in the wider crypto market.

And in fact, with the current extreme volatility plaguing the entire crypto market, investors would be well-advised to stick to blue-chips such as Bitcoin or Ethereum, rather than look for the next x1000er. Cryptocurrency is a sufficiently-risky asset in itself for not adding unnecessary additional risk, don’t you think?

And if Bitcoin has its flaws, notably high gas fees and low transaction speed (currently standing at around 5 transactions per second), it remains the longest-standing and one of the most secure networks out there.

Besides, Bitcoin is taking active steps in addressing the aforementioned issues, notably with the development of its Lightning Network, an innovative Layer 2 (L2) payment protocol that leverages off-chain transactions and significantly increases the Bitcoin network’s overall transaction speed.

So bottom line, don’t lose sight of crypto blue-chips like Bitcoin when looking to weather the current crash.

Basic Attention Token (BAT)

Basic Attention Token (BAT) is the native ERC-20 token of the Brave ecosystem. This project is built on the premise that people’s attention is a uniquely valuable resource and, as such, ought to be compensated.

BAT can be obtained in two different ways: the first (less fun) one, is by buying it directly on a main cryptocurrency exchange – BAT is listed on Binance, Coinbase, Huobi Global, and other major exchanges…

The other, more exciting way to obtain BAT tokens is by downloading Brave Browser, Brave’s native browser, which can be downloaded in minutes from Google. By simply using Brave Browser, users will be compensated with BAT tokens for using their valuable attention on selected advertisement pictures displayed in the background of the browser.

Earned BAT tokens are automatically transferred to a crypto-wallet built-in the browser. They can then be transferred to well-known external exchanges such as Uphold and Gemini, and exchanged for other cryptocurrencies or fiat currencies. Brave therefore offers a great way to generate a little side income from something you would be doing anyway – internet searches.

For those concerned about privacy and security issues, Brave is the way to go as its ecosystem places utmost importance on users’ data preservation. This means that Brave Browser blocks 99% of ads, so no more YouTube videos with triple-unskippable ads, isn’t it beautiful?

For anyone interested in the Brave ecosystem and the project’s vision, the most direct way to participate would simply be to use their products, already very popular amongst the crypto community.

If you’re really motivated, you can even invest in BAT token, currently trading at an interesting discount, but we would suggest waiting for markets to stabilise a bit first.

Quitriam Finance (QTM)

Quitriam Finance (QTM) is a new project that is currently undergoing its go-to-market process and holding the presale for QTM, its native currency.

Quitriam Finance is creating a game-like environment that will include mines where users can search for mithril ore, which may be transformed into various NFTs and yield-bearing items in order to generate additional returns.

As mentioned earlier, periods of high market instability such as the one we are experiencing currently are times when it might be wiser to stick to established names and blue-chips in the space, as alternative investments such as presales appear as inherently riskier.

Nevertheless, for those experienced investors tolerant enough to risk, presales can be opportunities to generate returns which are rarely seen with established names. However, picking the right horse can be tricky, sometimes almost akin to playing in a casino.

In our case, Quitriam Finance is an interesting project with a market cap circa $12 million and a token currently priced at $0.000024 apiece. QTM has a total supply of 500 billion tokens and the project’s whitepaper makes no mention of a burning mechanism. Yet, with such a significant token supply, it is likely that it will be incorporated sooner or later.

QTM will serve as a governance unit, allowing its holders to express themselves in community votes and participate in the project’s overall evolution. QTM token holders will also be able to stake their QTM tokens in order to generate additional returns easily.

Quitriam Finance also aims to eventually issue a native stablecoin, Quitriam Coin (QC), quite a relevant initiative following last week’s unpegging of TerraUSD (UST) and the subsequent crash of Terra (LUNA).

An overall ambitious project, it is now up to the Quitriam Finance team to deliver on its promises – we will be following their market debut…

Learn more about Quitriam Finance

Website: https://quitriam.io/

Presale: https://presale.quitriam.io/register

Telegram: https://t.me/QUITRIAMFINANCEOFFICIAL

Keywords: Bitcoin, BTC, Brave, BAT, Quitriam Finance, QTM, Blue-Chips, Cryptocurrency, Token.

Related Articles

“Twitter On Ethereum” Hinted By Aave Founder

Kshitij Chitransh

Digital Yuan Is Now Accepted By Beijing Subway

Kshitij Chitransh

Pacman Frog (PAC) And Monero (XMR) Emerge As The Future Of Cryptocurrency Market

Yashi