Monday, May 29, 2023
HomeNewsUnderstanding CRYPTO FARMER STYLE


I’m a new investor in the market, I also researched myself. But I find it difficult to understand when looking online, people explain the terms, it sounds too academic and difficult to understand. So I hope to share with everyone the same knowledge, but it’s simpler * **First, about Staking:** This is a verb, when adding -ing, we get Staking. So, to understand it better, we must learn the meaning of the word “stake”. Stake means to place a bet, on a game of poker, for example. In commerce, “stake” means a deposit, purchase of shares, or financial support. In short, Staking is a risky trade-off, the success or failure of what is staked will affect you. * For example, you deposit money in a bank or buy stocks to keep money and get interest/dividends. So where does the profit come from? Banks lend your money back with higher interest rates, invest in insurance, securities, real estate… The company does business to generate profits, and the risk as you can see is quite low. * **What are NFTs, and how do they work? **NFT stands for Non-fungible token, meaning the token is not replaceable. One feature that easily distinguishes NFT from other tokens that we commonly know such as Bitcoin or Ethereum, is its non-fungible nature. With all the things that are exchangeable, called money, they are all interchangeable. Why? * For example, you can easily exchange a 5 dollar bill for another 5 dollar bill due to its uniformity. Currencies are exchangeable because they are defined by value, not uniqueness. Meanwhile, NFTs are not interchangeable. You can imagine NFTs like humans, each NFT has a unique and unique identifier, or DNA, that makes it different from the rest. This code serves as proof of originality and ownership in the digital environment. You can self-issue any NFT on the Ethereum or Binance Smart Chain blockchain networks. However, no one, including the issuer, may copy or transfer the NFT without the permission of the owner. It is these distinctive features of NFTs that make them the means for encoding artwork, video, music, and other intellectual property products. From there, it is easy to circulate on the blockchain environment without fear of being copied, or infringed upon copyright. * **Yield Farming:** This is also a verb, including Yield and Farming. Yield means yield, yield, in commerce it means profit, yield or yield, roughly something in excess, gain or positive. Farming means farming, farming, in commerce it means assigning or contracting work to someone or collecting and collecting money/interest. Yield Farming is like you depositing a currency pair into‚Ķ Forex floor for traders to trade, the interest you receive is part of the transaction fee. Or you open a money exchange counter at the airport, sit there shaking your thighs, exchange VND for Western hair for USD, then change USD for Vietnamese people about to exit, the profit is the exchange rate difference. Or larger is the banks that lend to import and export businesses, advance foreign currency. Thank you all for reading, if you need me to say more about any term, just comment. I will post better articles

Source: Collector



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