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    BAYC NFT Sells for $1.43M Amid Broader Market Challenges – Cryptoflies News

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    BAYC NFT Sells for .43M Amid Broader Market Challenges – Cryptoflies News


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    The non-fungible token (NFT) market has been experiencing significant declines, but some recent sales keep hopes alive. Two days ago, a Bored Ape Yacht Club (BAYC) NFT was sold for over $1.43 million.

    According to data from CryptoSlam, the BAYC NFT #7940 was sold for 588 ETH, worth $1,433,582 at the time of the transaction. The NFT was first minted three years ago, though its original price has not been disclosed.

    This sale offers some optimism to the NFT community, but it comes in the midst of a larger decline. The BAYC collection, which once had NFTs valued between $150,000 and over $200,000 at its peak in 2021 and 2022, has seen a significant drop in value. Today, similar NFTs are selling for $20,000 to $40,000 — a fraction of their previous prices.

    The downturn isn’t limited to BAYC. Other NFT collections and projects have also been hit hard by the market’s struggles. Sales across all major NFT blockchains — including Ethereum, Bitcoin, and Solana — have taken significant hits. Over the past month, sales on these blockchains have fallen by 46%, 26%, and 39% respectively, compared to the previous 30 days.

    This decline has been ongoing for more than a year, and legal uncertainties have only added to the market’s challenges. In August, OpenSea received a Wells notice from the U.S. Securities and Exchange Commission (SEC), which is scrutinizing NFTs traded on the marketplace as potential securities. 

    Nonetheless, the SEC has already taken action against several projects in the space.

    In August 2023, the SEC fined Los Angeles-based media company Impact Theory $6.1 million for offering unregistered NFT securities known as “Founder’s Keys.” In September, the Stoner Cats NFT project was also fined $1 million for selling unregistered securities. More recently, Dapper Labs settled a lawsuit over its NBA Top Shot NFTs, agreeing to pay $4 million.

    These legal pressures have led many companies, even large players, to distance themselves from the NFT space. Starbucks ended its NFT rewards program, Odyssey, in March 2024, and GameStop closed its NFT marketplace in January 2024 after two years of operation.



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    Is Crypto.com Safe? Learn about its Security Measures

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    Is Crypto.com Safe? Learn about its Security Measures


    When considering trading cryptocurrency, many people are looking for reliable platforms. Crypto.com is one of the safest crypto exchanges. But, is Crypto.com safe to use? This guide explores the security measures, the risks involved, and what users can do to protect their investments at Crypto.com.

    Key Takeaways:

    The Crypto.com exchange is highly secure with safety measures such as 2FA, cold storage, anti-phishing code, withdrawal address whitelisting, and transparent PoR data.Crypto.com provides FDIC insurance for U.S. users’ fiat balances, up to $250,000.They offer a HackerOne Bug Bounty program to continuously strengthen their system by encouraging responsible vulnerability reporting.

    Crypto.com Exchange Overview

    Crypto.com, founded in 2016, has rapidly grown into one of the largest crypto exchange platforms globally, with over 100 million users. The company has positioned itself as a leader in regulatory compliance, holding licenses across multiple jurisdictions, including the UK, Singapore, and France. This broad regulatory footprint is key to its commitment to user safety and trust. 

    Crypto.com’s platform supports a wide range of services, including cryptocurrency trading, staking, and payments, and has expanded into sectors such as NFTs and decentralized finance (DeFi). Its daily trading volume often exceeds billions, with the platform processing significant spot and derivatives trades. It also offers margin trading with up to 5x leverage.

    Crypto.com leads in decentralized finance (DeFi) by offering you access to services like yield farming, staking, and liquidity pools. Its native token, Cronos (CRO), plays a key role in these activities. When you hold CRO, you get benefits such as earning rewards and lower trading fees. Read our full Crypto.com review for more information.

    Is Crypto.com Safe: 10 Security Measures

    Yes, Crypto.com is one of the best crypto exchanges that employs a wide range of security measures to safeguard your funds and personal data. Thanks to a layered approach that includes everything from offline cold storage to advanced encryption protocols. 

    Here’s a detailed look at the top 10 security measures that Crypto.com uses to ensure your peace of mind:

    Cold Wallet Storage

    One of the most crucial aspects of Crypto.com’s security strategy is its use of cold wallet storage for the majority of user funds. Keeping cold wallets offline and disconnected from the internet makes them much less susceptible to hacking attacks. In fact, over 90% of all user funds are stored in cold wallets, a standard practice among major cryptocurrency exchanges.

    Hot wallets, which are used for day-to-day crypto transactions, only hold a minimal amount of assets necessary to maintain liquidity. This division between cold and hot wallets ensures that even if the hot wallet is compromised, the impact on user assets is minimal. 

    The cold wallet strategy is reinforced by multi-signature wallet protocols, which require multiple approvals from different parties before any transaction can be made from these wallets. This minimizes the risk of internal fraud or unauthorized access.

    Additionally, Crypto.com’s cold wallet storage is secured in institutional-grade vaults. These vaults are located in geographically dispersed locations to reduce the risk of a single point of failure. Even in a physical attack or a natural disaster, the distributed nature of these vaults ensures your funds remain secure.

    Anti-Phishing Code Set Up

    Phishing attacks are a major threat in crypto, where attackers often try to impersonate official platforms to steal user credentials. To counter this, Crypto.com offers the option to set up an anti-phishing code. This is a personalized code that appears in all legitimate emails from Crypto.com, allowing you to quickly identify whether an email is from the official platform or a phishing attempt.

    In addition to the anti-phishing code, the platform’s email and communication protocols are secured using the latest Transport Layer Security (TLS) encryption standards. This ensures that all communications between the platform and your email are encrypted, reducing the risk of interception.

    Manage & Set Up Anti-Phishing Code

    Multi-Factor Authentication (2FA)

    Multi-factor authentication (MFA) is another critical layer in Crypto.com’s security framework. By requiring at least two methods of verification – such as a password and a one-time code from an authentication app – MFA significantly reduces the chances of unauthorized access to your account.

    Crypto.com goes beyond the standard MFA. It supports multiple forms of verification, including SMS-based codes, app-based authenticators like Google Authenticator, and even biometric verification through fingerprints or facial recognition. This guarantees that, even if your password is breached, an intruder cannot enter your account without the additional authentication method.

    It’s also important to note that MFA is required for all sensitive actions on the platform, not just login attempts. This includes withdrawals, password changes, and the modification of key account settings. For additional protection, Crypto.com mandates MFA for the activation of API keys, which are used by more advanced users to automate trading or access their accounts programmatically.

    Secure Software Development Life Cycle

    Crypto.com integrates security from the very beginning of its software development process through a Secure Software Development Life Cycle (SDLC). This approach involves security audits and testing at every stage of development. 

    Each new feature or update is peer-reviewed, and both static and dynamic source code analysis tools are used to catch potential vulnerabilities before they can be exploited.

    The SDLC process is not limited to internal teams; external security firms are also involved in auditing Crypto.com’s codebase. For example, Kudelski Security, a globally recognized firm, regularly performs third-party security assessments. This ensures that Crypto.com’s security practices are up to date with the latest industry standards.

    Moreover, the platform employs real-time monitoring tools that track network traffic and application behavior for any signs of anomalous activity. Any detected anomalies are flagged and addressed immediately, further reducing the risk of zero-day exploits or emerging threats.

    Withdrawal Address Whitelisting

    Crypto.com has strengthened its withdrawal security by introducing address whitelisting. This feature allows users to restrict withdrawals to specific, pre-approved wallet addresses. Here’s how it works:

    You can pre-approve specific crypto withdrawal addresses like USDT (BEP20) address or Bitcoin (BTC network) in your account settings.Funds can only be withdrawn to these whitelisted addresses.Adding a new withdrawal address requires email verification and has a 24-hour waiting period.

    This 24-hour cooling-off period provides extra security, ensuring that even if an attacker gains access to your account, they cannot instantly withdraw funds to their own wallet.

    To further secure your assets, the platform also requires email verification for every withdrawal request. This means that you must confirm all transactions via email before transferring funds, adding one more safeguard to the process.

    Proof of Reserves (PoR)

    Proof of Reserves (PoR) System

    Crypto.com uses a Proof of Reserves (PoR) system to ensure transparency regarding the platform’s financial stability. This system lets you confirm that your assets are fully backed by the platform’s reserves, addressing any concerns about the possibility of insolvency (similar to FTX).

    The Proof of Reserves process is conducted by independent auditors from the Mazars Group, who regularly check and verify Crypto.com’s assets. They publish reports to confirm that the platform holds enough assets to match all customer balances. This guarantees that your funds are backed 1:1, and you can withdraw them at any time. 

    To ensure all reserves are properly accounted for, cryptographic methods are used during the auditing process, which further increases transparency. A key part of this system is the use of Merkle Trees. A Merkle Tree is a structure that organizes large amounts of data, making it easier to verify and audit. In this case, it allows you to confirm that your individual assets are included in the total reserves without revealing any sensitive account information.

    Here is the current fund reserve ratio by Crypto.com:

    In-Scope AssetReserve RatioBTC (Bitcoin)102%ETH (Ethereum)101%USDC (USD Coin)102%USDT (Tether)106%XRP (Ripple)101%DOGE (Dogecoin)101%SHIB (Shiba Inu)102%LINK (Chainlink)101%MANA (Decentraland)102%

    (Source: Mazars Group Audit)

    User Funds Stored in Custodian Bank Accounts

    When you hold fiat currencies on Crypto.com, your funds are kept in regulated custodian bank accounts, adding an extra layer of protection for your non-crypto assets. If you’re a U.S. resident, your money is placed with Community Federal Savings Bank or other FDIC-insured banks. 

    This gives you coverage of up to $250,000 per depositor in case the bank fails. However, it’s important to understand that FDIC insurance only applies to your fiat balances. It doesn’t cover losses if Crypto.com itself fails or in cases of fraud or theft.

    This setup ensures that, even if Crypto.com faces financial troubles, you have fiat currency security in place. For those outside the U.S., Crypto.com works with regulated institutions in different regions to comply with local financial rules.

    24/7 Customer Support

    If you have any security concerns, Crypto.com offers customer support 24/7 to help you right away. Whether you’re having trouble accessing your account, notice suspicious activity, or need help setting up extra security like MFA, the support team is always there to assist.

    Crypto.com’s team is trained to handle security issues quickly, making sure any threats to your account are dealt with fast. This quick support is especially helpful during stressful times, like a market crash or account lockout, when fast help can really make a difference.

    Certifications and Assessments

    Crypto.com is among the most certified platforms in the cryptocurrency industry. It holds certifications for ISO/IEC 27001:2022, ISO/IEC 27701:2019, and PCI DSS v4.0 Level 1, which are internationally recognized standards for information security and data privacy management.

    Furthermore, Crypto.com has achieved SOC 2 Type II compliance, demonstrating that it has controls in place to protect user data and ensure privacy.

    Hacker One Bug Bounty

    Crypto.com runs a HackerOne Bug Bounty Program, inviting ethical hackers from all over the world to find and report any weaknesses in the platform. By offering rewards for responsible reporting, Crypto.com makes sure even small security problems are fixed quickly before they can be taken advantage of by bad actors.

    Here is a table showing the rewards offered in the program:

    Risk LevelRewardsLow$200 – $500Medium$500 – $5,000High$5,000 – $30,000Critical$30,000 – $80,000

    How to Stay Safe While Using Crypto.com?

    Although Crypto.com provides numerous security measures, here are some additional tips to avoid crypto scams and further protect your account:

    Enable Multi-Factor Authentication (MFA): Always enable Multi-Factor Authentication (MFA) on your account. You can use an authenticator app or SMS verification to receive a one-time code whenever you log in or perform sensitive actions.Use Strong, Unique Passwords: Use a strong, unique password that combines letters, numbers, and symbols. Avoid common words or easily guessable information, such as your birthdate or name. Regularly Monitor Your Account Activity: Keep an eye on your account activity by checking your transaction history regularly. If you notice anything unusual, report it to Crypto.com’s customer support immediately. Beware of Phishing Attempts: Be vigilant about phishing attempts, as scammers often try to impersonate Crypto.com through fake emails or websites. Always double-check the URL before entering your credentials, and ensure that the site is secure (look for “https://” in the address). Crypto.com will never ask you for your password via email, so be cautious of any communication that requests sensitive information.Keep Your Devices Secure: Keep your operating systems, antivirus software, and applications updated to protect against malware and other vulnerabilities. Avoid using public Wi-Fi networks to access your account. If you must use a public network, consider using a Virtual Private Network (VPN) to encrypt your internet connection and protect your data.Consider Hardware Wallets for Long-Term Storage: If you plan to hold large amounts of cryptocurrency for an extended period, consider using a hardware wallet for storage. Hardware wallets store your private keys offline. Use the App’s Security Features: Features like address whitelisting for withdrawals add an extra layer of security, ensuring that only approved addresses can receive your funds. You can also set withdrawal limits to reduce the risk of losing large amounts in case of unauthorized access.

    Final Thought: Is Crypto.com Safe in 2024?

    In a nutshell, Crypto.com has invested heavily in security, offering a range of protective measures for its users. From cold wallet storage and multi-factor authentication to high-level certifications and external audits, the platform is committed to safeguarding your funds. Additionally, with their Account Protection Program (APP), eligible users have up to $250,000 in coverage for unauthorized transactions.

    The platform also engages top-tier security auditors and partners with ethical hackers to continually assess its security posture. For 2024, Crypto.com appears to be one of the more secure and transparent cryptocurrency platforms, making it a good choice for anyone looking to buy, sell, or hold digital assets.

    FAQs

    Is Crypto.com App Safe?

    Yes, the Crypto.com app uses best-in-class security features like MFA, biometric authentication, and HSM (Hardware Security Module) for key management. Additionally, the app is regularly updated with security patches and improvements to address any vulnerabilities.

    Is Crypto.com regulated and licensed?

    Crypto.com is a well-regulated crypto trading platform across several jurisdictions. It holds an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA), which allows it to offer e-money services in compliance with local regulations. 

    In Singapore, it has a Major Payment Institution (MPI) license from the MAS. The platform is also registered as a Digital Asset Service Provider (DASP) in France under the Autorité des marchés financiers (AMF). 

    Additionally, Crypto.com has received regulatory approvals in countries like Australia, South Korea, and Italy, ensuring compliance with their financial and anti-money laundering (AML) standards.

    Has crypto.com ever been hacked?

    Crypto.com has faced security challenges, with the most notable incident occurring in January 2022. During this breach, unauthorized withdrawals affected 483 Crypto.com users, totaling 4,836.26 ETH, 443.93 BTC, and approximately US$66,200 in other cryptocurrencies. In response, Crypto.com took immediate action to enhance its security measures and protect user funds. In response, the APP restores funds up to USD$250,000 for qualified users.

    Which is better, Crypto.com or Coinbase for user safety?

    When comparing Crypto.com and Coinbase in terms of user safety, both platforms take strong measures to protect users. Coinbase is highly regarded for its robust security protocols, including cold storage of 98% of assets, insurance against theft, and strong two-factor authentication (2FA). It is also one of the few exchanges publicly, providing greater transparency. 

    Crypto.com, on the other hand, emphasizes security through features like hardware security modules (HSMs) and has obtained ISO/IEC 27701:2019 certification for privacy and security management. Both exchanges also offer insurance coverage.

    Is crypto.com safe for beginners?

    Crypto.com is considered a legitimate crypto app for beginners. It provides a user-friendly interface with a range of educational resources that can help newcomers navigate the crypto space.

    With regulatory licenses in key jurisdictions and an easy-to-use mobile app, it supports users from basic crypto purchases to more advanced financial tools like staking and crypto debit cards. Additionally, its compliance with international security standards provides reassurance to new users about the safety of their funds.

    Can I safely withdraw money from Crypto.com to a bank account?

    Yes, you can safely withdraw money from Crypto.com to your bank account. The crypto exchange allows users to transfer funds by linking a bank account and initiating a withdrawal through the mobile app or web platform. The process is straightforward. The transfer time can vary depending on bank and location, usually a few hours to a couple of business days. You can also link your credit or debit card.



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    BYDFi Review 2024: A Look at the Growing Crypto Exchange

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    BYDFi Review 2024: A Look at the Growing Crypto Exchange


    If you are looking for a crypto exchange with advanced features and easy-to-use trading tools, BYDFi might be the right choice. It is designed for both new and experienced traders. The platform also stands out by allowing trades without requiring KYC, giving you more privacy. In this BYDFi review, we will explore its key features, fees, and security.

    Key Takeaways:

    BYDFi is a global crypto exchange that supports 600 digital currencies and advanced features like 200x leverage trading and automated bots.The platform supports trading without KYC, enhancing privacy and anonymity, and allows withdrawals of up to 1.5 BTC per day.It charges competitive trading fees, with maker 0% fees, taker 0.3% spot fees and up to 0.06% perpetual futures fees.

    What is BYDFi?

    BYDFi, formerly known as BitYard, is a global cryptocurrency trading platform that has been serving investors since 2020. The rebranding to BYDFi in 2023 wasn’t just a cosmetic change; it represented a shift in the company’s vision and commitment to its users. 

    The name BYDFi stands for “BUIDL Your Dream Finance”, incorporating the crypto community slang term “BUIDL” (a play on “build”) which encourages proactive participation in the cryptocurrency ecosystem.

    The platform supports over 600 digital assets and allows you to trade with up to 200x leverage in derivatives trading. It also provides features like spot trading, P2P trading, bot trading, and perpetual futures.

    BYDFi provides a welcome rewards program that allows new users to earn up to $2888 by completing certain tasks. These tasks include actions such as making a deposit, trading, and inviting friends.

    BYDFi Key Features

    BYDFi has many features for crypto traders:

    Spot Trading: On BYDFi, you can trade over 600 different cryptocurrency pairs. This means you have a lot of choices when it comes to buying and selling crypto. If you’re looking for the next 100x GEM in crypto, having so many tokens for trading can be helpful.Perpetual Futures: BYDFi offers over 200 perpetual futures contracts. These are split into two types: USDT-M and Coin-M. USDT-M futures use Tether (USDT) as the margin currency. This means all profits and losses are in USDT. Coin-M futures use the actual cryptocurrency as a margin. For example, in a BTC/USD Coin-M future, you’d use Bitcoin as a margin. BYDFi lets you use up to 200x leverage on these futures.Automated Trading Tools: BYDFi offers several automated trading tools. These include grid trading bots for both spot and futures markets. Grid trading means when the price moves up or down, the bot automatically buys low and sells high within your set range. There’s also an Auto Investment Trading Bot. It can help you invest regularly (DCA) without having to watch the market all the time.Demo Trading: If you’re new to trading or want to try out a new strategy, BYDFi gives you a demo account with 100,000 USDT. This is a virtual fund that you can use to practice trading without any risk. It’s a great way to learn how the platform works before you use real money.Buying Crypto with Credit Cards: If you’re new to crypto, the platform makes it easy by letting you buy crypto with a credit card. This can be a quick way to get your first crypto using fiat currencies.

    BYDFi Fees

    Fees are an important part of choosing a crypto exchange. Nobody wants to pay more than they have to. Here’s how BYDFi’s fees stack up:

    TypesFeesSpot Tradingmaker 0% / taker 0.3%Perpetual Futures Trading0.02% maker and 0.06% takerInstant Crypto-to-Crypto Convert0.1% – 0.15%.Leveraged Tokens0.2% (+ 0.03% management fees)Funding FeesUp to 0.01% (every 8 hours)Deposit Fees0%Withdrawal FeesOnly network gas feesFor spot trading, the standard fee is between 0.1% – 0.3%. This is lower than many popular crypto exchanges like Coinbase. Also, if you’re a “maker” (someone who adds liquidity to the market), you might not have to pay any fees at all.For futures trading, the maker fee is 0.02% and the taker fee is 0.06%. This is pretty competitive compared to other exchanges like Binance and Bybit.

    BYDFi Trading Fees

    There is also a funding fee for perpetual futures. These fees help keep the futures price close to the actual crypto price. The amount can change based on market conditions.

    It’s worth noting that your fees can be lower if you’re a VIP user. The more you trade, the less you pay in fees. Check BYDFi VIP privileges here.

    BYDFi Security: Is it Safe to Use?

    Security is crucial in the cryptocurrency industry, and BYDFi has adopted many safeguards to secure users’ funds:

    Cold Storage: The bulk of BYDFi’s digital assets are held in offline cold wallets, which greatly minimizes the danger of hacking.Multi-Sig Approvals: BYDFi needs several parties to authorize transactions, which adds another degree of security.Segregated Accounts: User digital assets are kept separate from BYDFi’s operational finances, guaranteeing that user funds are not jeopardized in the event of corporate financial difficulties.Strict Withdrawal Whitelisting: Cold storage withdrawals are limited to pre-approved (whitelisted) addresses.No hacking incidents: As of this writing, BYDFi has not had any large security breaches or hacks, which is a good indicator in a field where such occurrences are very common.

    Payment Methods

    BYDFi offers various payment methods, making it simple for users to deposit funds into their trading accounts. Users can use credit cards, debit cards, and bank transfers to add money, providing flexibility in how they choose to fund their accounts. It also supports third-party payment providers such as Apple Pay, Google Pay, Banxa, Transak, and Mercuryo.

    Affiliate Program and Commission

    BYDFi’s affiliate program is known as one of the best in the cryptocurrency world. It offers a revenue share of up to 70% for its partners, making it a top choice compared to other exchanges. One major benefit is that commissions are paid out in real-time, which means affiliates can get their earnings quickly.

    The program allows affiliates to create up to 100 different referral links. This feature helps them target specific audiences and track how well their links perform. It is especially useful for influencers, content creators, and marketers who want to reach different groups through platforms like YouTube, Facebook, and Telegram. Additionally, BYDFi has a sub-affiliate system, where partners earn an extra 10% from the commissions of affiliates they recruit.

    BYDFi Customer Service

    Good customer support can make a big difference when you’re trading crypto. BYDFi offers support around the clock. You can reach out to them any time of day or night through live chat or email ([email protected]).

    BYDFi also supports multiple languages. This is great if English isn’t your first language. You can get help in your own language, which can make solving problems much easier.

    One thing that sets BYDFi apart is its focus on education. The BYDFi blog helps you learn different aspects of crypto trading. This can be really helpful if you’re just starting out or if you want to learn about new trading strategies.

    BYDFi Customer Service

    BYDFi Available Countries and KYC

    BYDFi is a global platform, serving users from most countries without requiring a VPN. It is currently not available in China, Pakistan, Bangladesh, Kazakhstan, the United Kingdom, and Iran.

    Also, BYDFi allows deposits, withdrawals, and trading without KYC (Know Your Customer) verification in many countries. This feature makes it a popular no-KYC crypto exchange that focuses on privacy and anonymity. However, KYC can still be necessary for higher withdrawal limits or certain features.

    The daily withdrawal limit will vary depending on whether KYC is completed or not. Unverified users can withdraw up to 1.5 BTC per day, whereas KYC-verified users can withdraw up to 6 BTC per day.

    BYDFi Available Countries and KYC

    User Experience

    BYDFi offers a great user experience with its easy-to-use platform and helpful features. The exchange is suitable for both new and experienced traders, making it simple for anyone to start trading cryptocurrencies.

    New users find the registration process quick and straightforward and provides various trading options, such as spot trading and perpetual contracts. It also offers a demo account, which is valuable for practicing trading without any risk.

    The mobile app adds convenience, allowing traders to check the market and make trades while on the go. BYDFi also has strong customer support, providing real-time help through live chat​.

    BYDFi Competitors

    BYDFiCoinbaseKrakenBinanceCrypto.comSpot Fees0.1 – 0.3% maker/taker0.4% maker and 0.6% %0.25% maker and 0.4% taker0.1% maker/taker0.15% maker and 0.3% takerTrading Pairs600+240+200+400+350+Derivatives√√ (limited)√√√Maximum Leverage200x10x50x125x100xDerivatives available in English Region√√×x√Free Demo Trading√x√√xDeposit and Withdraw without KYC√××××Trade without KYC√××××

    Is BYDFi Worth It?

    Yes, BYDFi is a great choice for anyone looking to trade cryptocurrencies. It stands out among other exchanges because of its easy-to-use interface, low fees, and a variety of advanced trading features. With over 600 trading pairs available, you can easily diversify your portfolio. The platform also offers unique options like copy trading, which lets you follow successful traders, helping you learn and improve your trading skills.

    The platform’s no KYC requirements make it more accessible, allowing you to trade with fewer barriers. In addition, BYDFi has a solid support system, with 24/7 customer service ready to help you with any questions or problems​. 

    So, if you want a platform that offers advanced trading tools, lucrative sign-up rewards for new users, and a secure trading environment, BYDFi is definitely worth considering.

    Final Thoughts

    To wrap up this BYDFi review, it offers a wide range of trading options, from simple spot trading to high-leverage futures contracts. Its fees are competitive, and in many cases, lower than those of major competitors. One of BYDFi’s standout features is its accessibility. In many countries, users can start trading quickly without going through a lengthy KYC process. This, combined with its user-friendly interface and educational resources, makes it an attractive option for newcomers to the crypto world.

    However, BYDFi isn’t just for beginners. Its advanced features like high-leverage trading and automated trading bots can appeal to experienced traders as well. The VIP system, which offers reduced fees for high-volume traders, adds another layer of appeal for advanced traders. Overall, it is the best crypto exchange for both beginners and experienced crypto investors.



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    TON Kombat: Airdrops, Token Listings, and What’s Ahead

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    TON Kombat: Airdrops, Token Listings, and What’s Ahead


    TON Kombat is a game on Telegram that has drawn millions of users through its strategic gameplay and arena battles. Players join one of eight powerful houses, each of them representing a project from the TON ecosystem and compete for dominance.

    Active participants in the game have an opportunity to earn exclusive rewards, with the airdrop set for Q4 2024. Even more recently, the game declared its intention to engage in its token economy, with a token set for listing around early 2025. These two events allow players ample opportunity to join in on the sword-swinging fun and earn some crypto while at it.

    Gameplay and Features

    Hosted on Telegram, the mini app TON Kombat brings both strategic decision-making and competitive battles to the arena. The eight houses—Hamster Kombat, Notcoin, Tapswap, Catizens, Blum, Dogs, Yescoin, SEED—each have unique strengths and abilities. Thus, they provide players with many tactical options for either side of their house.

    All players must select an alliance that fits their preferred playstyle. They can choose from four options: Attacker, Defender, Balance, or Lucky. This adds yet another strategic layer to the game since each alliance has a unique combat advantage. Plus, winning ranked matches in PvP not only elevates your status but also grants in-game rewards and crypto.

    Season 2 Ends, Season 3 in Progress

    The contest for crypto rewards and ranking positions recently concluded with Season 2 of TON Kombat. Now, the action moves to Season 3, which is underway for the next couple of weeks at the time of writing. Season 3 of TON Kombat promises to deliver even more chances for players to demonstrate their strategic skills and ascend the leaderboard.

    If you haven’t yet taken the plunge, now is the perfect time to join the fight and give your skills a workout in the competitive arenas of Season 3.

    Airdrop and Future Listings

    In the fourth quarter of 2024, the Airdrop is expected to occur, presenting active players and community members with the opportunity to obtain TON Kombat tokens. Scheduled to unfold before the close of the year, this Airdrop stands to enhance the in-game economy and to fortify the players’ positions in the arena.

    Moreover, TON Kombat will make its official listing debut by January 30, 2025. That market listing will heighten the visibility of the game and could result in even more opportunities for users to trade and invest in the TON Kombat economy.

    A Thriving Community and Roadmap

    With more than 6 million users, TON Kombat has a huge player base. The active user base not only fuels the in-game competition but also serves as the basis for the game’s expanding ecosystem. The players have a hand in building the community through conquest. They also build a community through alliances.

    An update in late July brought new mechanics that added even more strategy to the game. Looking ahead, the dev team has a strong roadmap and is planning even cooler updates for the next few months.

    According to the roadmap of the Web3 game, TON Kombat, the marketplaces for weapons and the house-war system will be launched in October 2024. Before the end of the year, the marketplace for land and gameplay will be released. Afterwards, in early 2025, a token listing along with NFT minting and PvE World Boss Raids will occur. Later, during the month of March, there will be a land war and the introduction of new houses. In April 2025, TON Verse is scheduled for release.

    Benefits and Rewards

    Among the attractive points, TON Kombat can include the real rewards potential. That means players earn not only in-game earnings from victorious fights but can also make crypto rewards along with their victories. The game is integrated with a TON wallet, so users will be able to store and manage their crypto earnings within the app.

    For instance, the new referral system enables players to make up to 100 $TOK by onboarding any new user into the community. Such a combination of gaming, strategy, and cryptocurrency imbues a unique experience, bridging fun with real-world financial returns.

    Getting Started

    To start using TON Kombat, you’ll follow a pretty simple process: Finally, if you don’t already have it, download Telegram. After that, open the mini app section of Telegram, find “TON Kombat,” and complete the easy setup for the creation of your account.

    Once inside the game, new players can choose their house and start participating in PvP battles. Each house offers its own gameplay experience, so choosing the right one can be key to climbing the ranks and earning rewards.

    Editor’s note: Written with the assistance of AI – Edited and fact-checked by Jason Newey.

    Jason Newey

    Jason Newey is a seasoned journalist specializing in NFTs, the Metaverse, and Web3 technologies. With a background in digital media and blockchain technology, he adeptly translates complex concepts into engaging, informative articles.

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    How SonicX’s Tap-to-Earn Game Onboarded Over 120,000 TikTok Users

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    How SonicX’s Tap-to-Earn Game Onboarded Over 120,000 TikTok Users


    TikTok is now hosting SonicX, a new “tap to earn” game that runs on the Solana blockchain. Developed by Sonic SVM, a Layer 2 infrastructure provider on Solana, SonicX is the first tap-to-earn game on TikTok and provides users with a seamless introduction to Web3 gaming.

    Introducing SonicX and Sonic SVM

    The Sonic SVM development framework offers game-specific tools that enable developers to create Layer-2 networks on Solana. This infrastructure makes it easy for developers to deploy decentralized games, taking advantage of Solana’s speed and efficiency. Sonic SVM aims to pave the way for blockchain gaming on Solana and showcase the potential of Layer-2 networks as a strong foundation to meet the complex demands of modern gaming.

    SonicX, integrated within TikTok, offers a gaming experience that is enjoyable, accessible, and most importantly, on-chain. It bridges the gap between traditional gaming and blockchain technology, bringing Web3 closer to a wider audience. This tap-to-earn game provides users with a hands-on introduction to the benefits of blockchain technology through a platform they are already familiar with.

    TikTok as a Web3 Onboarding Gateway

    With over 120,000 TikTok users already onboarded into Web3 through SonicX, this integration showcases TikTok’s potential as a gateway for blockchain adoption. The built-in wallet in SonicX allows users to take part in blockchain activities without the usual complications of handling private keys or using external platforms. This seamless experience reduces the entry barriers for new users, making Web3 more accessible than ever.”

    Account abstraction wallets, which enable users to recover their accounts without private keys, are crucial in simplifying the user experience. SonicX utilizes this feature to introduce blockchain gaming to a wider audience, making Web3 accessible to TikTok’s vast user base. The success of the game shows that popular platforms like TikTok can act as influential gateways to the decentralized web.

    Blockchain Gaming on Solana

    Sonic SVM is an infrastructure that utilizes the strengths of the Solana blockchain, specifically its ultra-high speeds and ultra-low costs, which are essential for blockchain gaming. While Solana has already established itself in the DeFi space, Sonic SVM aims to expand its presence in gaming by attracting developers to build on its network.

    The Sonic Virtual Machine (SVM) and HyperGrid technology enhance Solana’s ability to handle Web3 gaming. By allowing game developers to build scalable Layer-2 networks, Sonic SVM is positioning itself as a leader in blockchain gaming infrastructure. These tools are designed to support the next generation of decentralized games.

    The Evolution of Tap-to-Earn Games

    SonicX is part of a rising trend of tap-to-earn games, following the path of popular blockchain games like Notcoin, Hamster Kombat and Rocky Rabbit. Users can earn rewards by tapping their screens to generate rings, which are then stored on the blockchain. Players have the opportunity to climb leaderboards, complete daily challenges, and earn additional rewards by referring friends.

    The embedded wallet in SonicX makes it easy to participate in blockchain gaming. It offers features such as account abstraction for simpler password recovery and management. This approach ensures that users can focus on gameplay without being overwhelmed by the complexities often associated with Web3 technology.

    The Future of Blockchain Gaming

    Sonic SVM is leading the way for a new era of blockchain gaming by onboarding over 120,000 TikTok users through SonicX. Through driving the growth of Solana’s gaming ecosystem, Sonic SVM is empowering developers to create scalable decentralized game economies on the blockchain.

    The success of SonicX paves the way for mainstream audiences to interact with Web3 using familiar platforms such as TikTok. Sonic SVM’s continued innovation suggests a bright future for blockchain gaming on Solana, with new opportunities for digital ownership and emerging decentralized economies on the horizon.

    Conclusion

    SonicX is a significant advancement in blockchain gaming, introducing thousands of TikTok users to the world of Web3 through an interactive and user-friendly gaming experience. By utilizing Solana’s infrastructure and tapping into TikTok’s extensive user base, Sonic SVM is leading the way in the movement to make decentralized gaming more mainstream. As blockchain gaming continues to develop, Sonic SVM’s innovative approach is set to impact the industry, providing new opportunities for developers and gamers.

    Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Owen Skelton.

    Owen Skelton

    Owen Skelton is an experienced journalist and editor with a passion for delivering insightful and engaging content. As Editor-in-Chief, he leads a talented team of writers and editors to create compelling stories that inform and inspire.

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    Ubisoft Announces Web3 Game ‘Champions Tactics’ Launch Date

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    Ubisoft Announces Web3 Game ‘Champions Tactics’ Launch Date


    Ubisoft, a titan of the gaming industry, has announced the launch of its first game integrating Web3 technologies. Titled “Champions Tactics: Grimoria Chronicles,” the tactical role-playing game is scheduled for release on October 23 and will be deployed on HOME Verse, the layer-2 network part of the Oasys gaming ecosystem.

    Stepping into Web3 Gaming

    Nearly a year after its initial announcement at IVS Kyoto, Ubisoft, known for games like Assassin’s Creed and Far Cry, is venturing into Web3 gaming with the support of Oasys and double jump.tokyo. The tactical RPG invites players to assemble teams of mythical Champions and engage in PvP battles while exploring the dark fantasy world of Grimoria.

    “At Ubisoft Strategic Innovation Lab, our goal is to be pathfinders in delivering innovative player experiences,” says Nicolas Pouard, VP of the Ubisoft Lab. “With Champions Tactics, we aim for Web3 technology to seamlessly fade into the background, allowing players to fully immerse themselves in the fun and strategy of the game.”

    Game Features and Mechanics

    Central to “Champions Tactics” is a collection of 75,000 Champions—digital collectibles serving as primary characters in Grimoria. Each Champion comes with their own unique traits and abilities, letting players build and fine-tune their ultimate team. Then, by strategically selecting a trio of Champions, outplay your opponents and achieve glory in PvP showdowns.

    Source Champions Tactics

    The game also brings in The Forge, where you can craft new Champions by blending unique powers and traits from your existing collection. This lets you create custom champions, unlocking new abilities and boosting your team’s dynamics. “The Forge is essential for those looking to refine their roster and dominate the leaderboard,” notes the development team in the announcement.

    Community Growth and Testing

    Ubisoft’s initial 10,000 PFP collection, The Warlords, was one of the most anticipated mints of Q3 2023. The subsequent minting of 75,000 Champions in July 2024 set new records, reflecting the growing excitement around the game. The community has expanded to over 100,000 followers on X and 50,000 Discord users.

    Furthermore, closed alpha and beta tests involving thousands of players have yielded positive feedback, contributing to enhancements in the game’s mechanics.

    “With Champions Tactics: Grimoria Chronicles, we’re bringing a true gaming experience to Web3. This isn’t GameFi—it’s about pure, immersive gameplay that draws players in, while giving them the freedom to own their assets and shape the game’s future,” says Sylvain Loe-Mie, executive producer for the game.

    Collaboration with Oasys

    Oasys is collaborating with Ubisoft to ensure the blockchain elements of “Champions Tactics” achieve full optimization on HOME Verse. Ryo Matsubara, Oasys representative director, expresses enthusiasm: “We’re delighted that Ubisoft has chosen to launch their first web3 game on HOME Verse”, also saying, “The demand for the Warlords and Champions mints earlier this year attests to the level of interest in Champions Tactics.”

    Editor’s note: Written with the assistance of AI – Edited and fact-checked by Jason Newey.

    Jason Newey

    Jason Newey is a seasoned journalist specializing in NFTs, the Metaverse, and Web3 technologies. With a background in digital media and blockchain technology, he adeptly translates complex concepts into engaging, informative articles.

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    Hyundai Offers Holders Chance to Trade NFTs for Real Pickup Truck – Cryptoflies News

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    Hyundai Offers Holders Chance to Trade NFTs for Real Pickup Truck – Cryptoflies News


    4

    Hyundai has decided to revive a non-fungible token (NFT) initiative originally launched in 2021, combining it with real-world offerings.

    At that time, the company introduced the Santa Cruz pickup and released ten Santa Cruz NFTs, which were given away through a sweepstake on X (formerly Twitter). 

    On September 30, Hyundai announced that Santa Cruz NFT holders could enter for a chance to exchange their NFT for a real 2025 Santa Cruz vehicle.

    Hyundai highlighted this initiative in a video on Instagram and X, stating, “We’re making NFTs relevant again.” 

    The post was then updated on October 8 to say, “The Offer has been claimed. Thank you for your interest in the promotion.” 

    This move may serve to revive the company’s NFT efforts while also promoting its vehicles. Yet, it’s not Hyundai’s first venture into Web3. 

    In 2022, the company released the “Shooting Star” NFT collection, which consisted of 10,000 Ethereum-based NFTs. These were later transformed into “MobED (Mobile Eccentric Droid),” marking Hyundai’s entry into metaverse mobility experiences. 

    In 2022, Hyundai continued its NFT efforts by launching a new collection tied to the global premiere of the IONIQ 6. The company later unveiled an NFT membership club to provide special benefits and experiences to NFT holders.

    Beyond NFTs, Hyundai has leveraged blockchain technology to address real-world challenges. Last year, Hyundai Motor Company and Kia Corporation introduced a Supplier CO2 Emission Monitoring System (SCEMS) based on Hedera blockchain technology. 

    Additionally, Hyundai’s Innovation Center in Singapore has incorporated robotics, artificial intelligence, and the metaverse to enhance electric vehicle production and improve customer interactions.



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    Asus Launches Web3 Game with Digital Collectibles and AI Content – Cryptoflies News

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    Asus Launches Web3 Game with Digital Collectibles and AI Content – Cryptoflies News


    4

    Asus Republic of Gamers (ROG) and Asus Metaverse have announced the launch of their new Web3 experience, “SL@SH206.” 

    The project offers a gamified cyberpunk-themed virtual world where players take on the role of an amnesiac robot — “ZEI-6” — in a society where “humanity has sought refuge in the virtual world.”

    The experience is powered by artificial intelligence (AI), which helps generate new content and stories within the game. As players explore the virtual world, they can find virtual objects, trigger in-game events, and earn digital collectibles by completing various missions. 

    Future updates will also allow players to earn “Sparkle” points, which can be used to unlock identity rewards, including potential token airdrops.

    The game is designed for a global audience, supporting both Chinese and English languages. Players can already join the game’s Discord community, where they can participate in mini-games to accumulate points and win rewards.

    “SL@SH206” is part of Asus’ broader push into Web3. Asus first entered the space in 2022 with the launch of its first non-fungible token (NFT) platform, “Art Black Hole,” developed by Asus Metaverse. The platform was later rebranded as “Asus Metaverse Plaza.” 

    In 2022, alongside the NFT platform’s release, Asus partnered with Shudu, a digital supermodel created by The Diigitals Agency, for an advertising campaign promoting the Zenbook 17 Fold OLED.

    In 2023, Asus Metaverse continued to build on its Web3 efforts by hosting an NFT contest that invited creators from around the world to submit their work, offering exclusive rewards to the winner.



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    Discover the Top 5 Solana Games You Can’t Afford to Miss!

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    Discover the Top 5 Solana Games You Can’t Afford to Miss!


    Solana has undoubtedly emerged as one of the top blockchains for gaming, offering fast transactions and low fees. The ecosystem now hosts a variety of games that include Web3 elements, such as play-to-earn mechanics, NFTs, and decentralized economies. Whether you enjoy strategy, RPGs, or action-packed adventures, Solana offers a diverse range of gaming experiences.

    Benefits of Solana Games

    The Solana blockchain’s high-speed processing allows for fast and smooth gameplay, with transaction fees as low as a fraction of a cent. This makes Solana games very affordable and accessible to players.

    In addition to being cost-effective, Solana also supports decentralized marketplaces and the trading of cross-game items, opening up new opportunities for in-game economies. Furthermore, Solana games offer a unique Web3 experience by incorporating NFTs, which allow players to truly own, exchange, and interact with digital assets across various games.

    Top Solana NFT Games

    STEPN

    The move-to-earn game STEPN pays players for being active. They get rewards for either walking, jogging, or running outdoors. For physical activity, players earn the game’s tokens, which are called GST. You can use those tokens in the game or trade them on the marketplace.

    By combining fitness and blockchain technology, STEPN offers an enjoyable way to encourage and promote a healthy lifestyle while giving players an opportunity to earn a real-world reward for their efforts. This innovative gaming approach has attracted a growing community of fitness enthusiasts and gamers, making it one of the most popular projects in the Solana ecosystem.

    Star Atlas

    ATLAS Token's LBank Listing Elevates Star Atlas's Value

    Set in an immense virtual galaxy, Star Atlas is a space-themed strategy game. Players have the opportunity to explore distant star systems, construct fleets, and participate in grand battles while extending their influence across the universe.

    Beyond tactical play, Star Atlas uses blockchain technology to let players possess and trade digital valuables – ships, planets, and resources – in the game. With its immersive world, deep strategy, and economic features, Star Atlas offers a unique Web3 gaming experience, blending exploration and warfare with real-world value.

    Aurory

    Aurory is a Japanese role-playing game that follows a play-to-earn model. It is set in a vibrant world inspired by anime, allowing players to embark on adventures, battle monsters, and complete quests to earn in-game rewards. In Aurory, players can collect and trade unique items and characters as NFTs. This means that you truly own your digital assets, similar to real-world assets.

    With its captivating art style, engaging storylines, and play-to-earn mechanics, Aurory blends traditional JRPG elements with Web3, delivering an immersive gaming experience that offers both entertainment and financial incentives.

    Nyan Heroes

    Nyan Heroes: Epic Games Store's Newest Battle Royale Sensation

    Nyan Heroes is a play-to-earn game where players collect Nyans (cats) and their powerful Guardian Robots to battle. The game is set in a futuristic world, allowing players to explore, engage in combat, and strategize as they upgrade their Nyans and Guardians.

    Both Nyans and Guardian Robots are represented as NFTs, giving players true ownership of in-game assets. The game leverages blockchain technology to provide an immersive Web3 experience with fun and tactical gameplay. Players can earn rewards while playing and strive to dominate this cat-filled universe.

    DeFi Land

    DeFi Land

    DeFi Land is a multi-chain farming simulation game that aims to simplify decentralized finance (DeFi) applications and make them more user-friendly. The game turns the complex workings of decentralized finance into an enjoyable farming experience. Players can explore the world of DeFi by growing crops, trading resources, and managing their virtual land.

    In the game, players can engage in activities such as staking, yield farming, and liquidity mining while learning about decentralized finance in an engaging manner. DeFi Land’s goal is to make DeFi more accessible to a wider audience by gamifying it and combining education, entertainment, and earning opportunities.

    Getting Started with Solana Games

    If you want to play games built on Solana, the first thing you need to do is create a digital wallet that works with the Solana blockchain. The process is simple, and once you’ve got it, you’ll be able to access an array of Solana gaming experiences that are available today, with the promise of many more to come.

    By becoming part of the community, players can immerse themselves in different web3 gaming experiences that are lucrative and entertaining. Games on the Solana blockchain afford them chances to invest in the ecosystem while engaging with gaming that is both unique and rewarding.

    Future Outlook for Solana Games

    Solana’s gaming sector seems to have a promising future, with numerous exciting projects and titles in the pipeline. The gaming ecosystem appears poised for rapid and robust growth. Solana’s gaming environment is distinctive and rewarding, offering players the opportunity to combine entertainment with the potential to earn and invest in a burgeoning ecosystem.

    With each new project launch, the Solana gaming ecosystem expands, driven by innovative blockchain technology and a supportive community. The future looks bright for Solana games, and the platform is well-positioned to spearhead the next wave of Web3 gaming evolution.

    Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Owen Skelton.

    Owen Skelton

    Owen Skelton is an experienced journalist and editor with a passion for delivering insightful and engaging content. As Editor-in-Chief, he leads a talented team of writers and editors to create compelling stories that inform and inspire.

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    Ubisoft to Launch ‘Captain Laserhawk’ NFT Collection on Magic Eden

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    Ubisoft to Launch ‘Captain Laserhawk’ NFT Collection on Magic Eden


    Ubisoft has announced a 10,000-piece NFT collection linked to its upcoming game Captain Laserhawk: The G.A.M.E.. The collection will be available on Magic Eden and minted on the Ethereum Layer-2 network Arbitrum.

    Holders of the NFTs—called Niji Warrior IDs—will gain early access to the top-down multiplayer shooter featuring characters from Assassin’s Creed, Rayman, and Beyond Good & Evil.

    The NFTs will evolve with player progress, offering perks and governance participation within the game.

    Ubisoft Partners with Magic Eden to Drop Captain Laserhawk NFT Collection Source: Magic Eden

    What are the benefits to holding Niji Warrior ID?

    The Niji Warrior ID NFT collection consists of 10,000 unique tokens that will allow players early access to Captain Laserhawk: The G.A.M.E..

    Set in a dystopian world inspired by the Netflix series Captain Laserhawk: A Blood Dragon Remix, the game will feature familiar characters from Ubisoft’s franchises.

    Holders of these NFTs will also gain additional in-game benefits as the NFTs evolve based on player progress. Beyond access, the Niji Warrior IDs will also serve as tools for governance within the game.

    Ubisoft has not yet released full details on how these governance features will function, but the NFTs are expected to play a role in decision-making for game updates and changes.

    Captain Laswerhawk: The G.A.M.E NFT Collection - Niji Warrior IDs
    Captain Laswerhawk: The G.A.M.E NFT Collection - Niji Warrior IDs Source: Magic Eden

    When is the NFT minting schedule?

    The Niji Warrior ID mint is expected to occur in the coming weeks, with thousands of players already gaining early access through beta testing and community challenges.

    The closed beta in August required participants to sign non-disclosure agreements, limiting public footage. However, early reports suggest that the game will feature fast-paced, multiplayer combat in a top-down shooter format.

    The collection will be minted on Arbitrum, a Layer-2 scaling solution for Ethereum and the first to introduce Arbitrum support on Magic Eden, which has previously hosted projects on Solana, Bitcoin, Ethereum, and other networks.



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