During this time, many investors said that Cryptocurrency prices seemed to be making a comeback. After the market stagnated for several months, the market was bustling. Existing investors top up, and new investors are becoming more cyclical pursuits. However, one of the essential things in investing in cryptocurrencies is the safety of Our ‘Trading Wallet.’
The world of buying and selling crypto happens 100% online and without intermediaries (e.g. banks, stock exchanges, etc.). To help bear the burden of risk, therefore, keeping all our assets on the exchange is quite risky. Moreover, it could be a target for hackers, which has news to see each other regularly. In the event of a hacker hacking the entire system and stealing many coins or individual hacking cases. If you want to start bitcoin trading check the shining classical elements behind the popularity and skyrocketing price of bitcoin
In recent times, you can see Thai traders on social media. Let’s start with the hardware wallet or hardware wallet. That makes digital assets more secure. It seems that Thai people are increasingly trading crypto because many leading department stores have responded to this trend by importing this hardware wallet to sell in their stores.
What is a hardware wallet?
Although similar to a trump drive for storage, its Appearance is quite different. When we buy crypto as our assets, crypto will be transferred to our online wallet (also known as a hot wallet) on the exchange. And this wallet will be used in trading. But the crypto wallet is not the same as the deposit system with the bank because it will store crypto assets. So the owner can access it with private key encryption, but because it is an online wallet always has an internet connection. So it can be hacked more easily.
The hardware wallet, also known as a cold wallet, was born. It is a wallet that can be tangible as a piece of equipment. And it allows users to store assets in an offline format. This type of retention is suitable for long-term traders. Because every time we trade, we need this piece of hardware to plug into the computer. The hardware stores the private key, and the trading only takes place within the hardware wallet. It will still be on the blockchain, but hackers will never have access to the private key on the cold wallet.
Binance’s website is the most dynamic trading platform in the world. Describing the importance of the hardware wallet as ‘Not Your Key Not Your Coin’, they said, “As long as you don’t hold your private key. The cryptocurrency in our possession does not belong to our own. Our coins will likely be withdrawn.”
These devices are still considered expensive nowadays. The average price is three thousand baht or more. On September 12, 2019, the Securities and Exchange Commission (SEC) reported global warming. Cryptocurrency trading volume hit $2.34 trillion. And they are trading daily at $134.68 billion. The most active users are retail investors. The Ethereum coin (ETH) could get you a great return compared to gold and oil securities.
By now, Cryptocurrency big brothers Bitcoin and Ethereum have started to bounce back after months of falling prices. Bitcoin is returning to more than 2 million baht per coin and Ethereum at over 120,000 baht per coin.
What is SushiSwap
‘SushiSwap’ is a DeFi on Ethereum that allows people to deposit their coins. And when people come to trade coins on the platform, People who come to trade will trade with the liquidity pool or deposit of that platform. Therefore, people who deposit money will receive a token or liquidity provider (LP) as a return, similar to interest on deposits.
Other well-known DeFis include Uniswap and PancakeSwap, which also charge a fee. Advantages – different advantages, Of course, the more people exchange assets on the platform, the more. People who deposit money in the pool will get more returns. DeFi is another exciting investment channel besides average crypto coin trading. In Thailand, there is a strong group of people interested in DeFi. There’s even a DeFi room in the clubhouse that’s open 24/7 for several days. The room for people to exchange new DeFi updates is worth investing in because the world of digital assets doesn’t have time to open the market.
One popular form of investing in DeFi is to deposit stable coins, or cryptocurrencies that fluctuate in value in the world’s major currencies (e.g. 1 USDT = 1 USD). Plus, depositing money this way can get a 7-20% return per year, of course, many times more than with bank deposits. In addition, DeFi can do a lot in addition to the above. And we should probably see each other in the future.