How to choose a reputable and secure survey platform to make money in 2022

Online surveys are a great way to get feedback from your customers and improve your products or services. However, not all survey platforms are created equal. Some platforms are not reputable or secure, putting your customers’ privacy at risk.

This blog post will show the benefits of using a reputable and secure survey platform. We will also recommend a platform that meets these criteria.

What is a survey platform, and what does it offer?

A survey platform is a website or software that allows you to create, distribute, and analyze surveys. Survey platforms offer a variety of features, but the most important ones are security and privacy.

Security is essential because you want to ensure that your customers’ personal information is safe. Privacy is vital because you don’t want your customers to feel like they’re being spied on.

There are many survey platforms to choose from, but not all are reputable or secure. We’ve researched for you, and we recommend Survey Junkie as the best option.

What makes Survey Junkie a trusted platform?

Survey Junkie is a trusted platform because it is:

  • Reputable: Survey Junkie has been around for over a decade and has an A+ rating from the Better Business Bureau. Trustpilot rated 4.5/5 from nearly 30,000 reviews
  • Secure: Survey Junkie uses industry-standard security measures to protect your customers’ personal information
  • Privacy-friendly: Survey Junkie does not sell customer data and has a strict privacy policy
  • Data protection: Sensitive information — such as passwords, payment methods, and social security numbers — is never collected.

How to make money with Survey Junkie?

To make money with a paid survey platform like Survey Junkie is, you need to follow these steps:

  • Click on the Sign-up button on the homepage
  • Enter your email address and create a password
  • Complete your profile surveys to unlock more paid opportunities
  • Start taking surveys and earning rewards!

What are the rewards, and how do you cash out?

Survey Junkie pays in points, that can be redeemed for cash (through PayPal) or Gift Cards. The minimum points you need to cash out is 500 points (worth $5).

You can also exchange your points for gift cards. That weekly Target run will makeyoufeel special. Those Amazon “Subscribe and Saves.” will make you happier. Your gift cards can cover most of the costs you have. You can also have gift cards for iTunes, Walmart, Sephora, Starbucks, Visa, etc.

How to make most of Survey Junkie?

By taking advantage of the platform’s sign-up bonus, you can start earning rewards right away.

You can also earn points by referring your friends. When they sign up using your unique link and take their first survey, you’ll earn 100 points. Your friend will also get a sign-up bonus worth $0.50!

You can also install Pulse on your device. Survey Junkie Pulse is the “do” part of sharing. Once you install Pulse on your computer or mobile device, it works for you, gathering information about online searches, site visits, app usage, shopping activity, and ad views.

Finally, be sure to complete your profile surveys. These are short surveys that help Survey Junkie understand more about you. The more they know about you, the more relevant survey opportunities will be sent your way.

Completing profile surveys also unlocks higher-paying opportunities, so it’s worth taking the time to do them.

Ready to unlock your journey?

If you’re ready to start earning rewards, sign up for Survey Junkie today!

It will enable you to earn cash or gift cards and never make you feel scammed.

What You Need to Know About Day Trading

Trading stocks used to seem like an activity that only wealthy people and big-name companies could do. But thanks to the way society has evolved, trading stocks has become rather common. One investment that lets you easily trade stocks is called day trading. Here’s everything you need to know about day trading.

What is Day Trading?
Day trading is a process that’s slightly different from the traditional practices of the stock market. Instead of going through companies, buying shares and selling them back for a profit, day trading has you purchasing penny stocks. Penny stocks are small shares that cost no more than $5 apiece. For beginners, you can review a best penny stock to trade watch list on where to find the best penny stocks. Through day trading, you’ll be purchasing multiple penny stocks and selling them back within a day’s time. This is an investment where you will be very active compared to the other methods.

Skills Needed to Be a Successful Day Trader
To be a successful day trader, you must have the appropriate skills. It’s not like most investments where you can leave it for a few days and then come back to it. You only have 24 hours to resell what you’ve purchased. Below is a brief list of skills you should have before you get started in day trading:

  • Risk management
  • Time management
  • Learning how to strategize
  • Critical thinking
  • Knowing how to perform effective market research
  • Learning how to be patient
  • Adaptability
  • Discipline

These skills are very important to develop and hone because they’re what will keep you in the game. Unfortunately, there are some people who think day trading is a little too simple, and fail because they weren’t prepared. Day trading, regardless of how easy it can be, is also a personal investment.

Understand the Risk
There are money saving tips everyone should know but understanding basic financial principles and understating the risks of trading and investing your money are two totally different things. No matter what investment you choose to partake in, there’s always going to risk involved. When it comes to day trading, the risk is higher than you’d expect it to be. For one thing, new day traders often lose a lot of money when they first begin. Not every trade you make is going to be successful, especially when it involves penny stocks, which brings us to the second reason.

Penny stocks are one of the riskiest investments for two reasons; there’s no security attached to them and they’re not liquid. Liquidity simply means how easily an asset can be converted into cash. Given the cheap nature of penny stocks, they’re an example of an investment that aren’t liquid. As for the security, you’re mainly buying them from lesser-known companies. In fact, this is where the true challenge of day trading comes into play.

Despite the risks, there’s mainly some form of security attached to them. Penny stocks typically have none, which makes them a risk to both the buyer and seller. If you trade too much hoping for a profit and not see success, you’re going to lose a lot of money fast. The best way to avoid this is to set a limit on how much you trade each day. This can help keep yourself in the game while simultaneously saving money.

Polkadot characteristics which makes it worth buying

First, what exactly is Polkadot? This is a new cryptocurrency that has been developed by the company you already know and love, Polkadot. It’s a cryptocurrency that allows for the transfer of data from one blockchain website to another, which means cross-chain communication. This makes it possible for different chains to communicate with each other through Polkadot’s relay chain. This means that you can use any blockchain on Polkadot as your main chain, and you don’t have to worry about using a different one just because it’s not compatible with your existing chain.

Polkadot is the future of blockchain governance and data transfer. With the ability to create multiple parachains and combine their security, it provides a more efficient and safer option for governance than either Ethereum or Bitcoin. Why bother with Polkadot when there are other options like Ethereum available? The answer is simple: Polkadot offers features that make it a safer option for developers who want to build on top of blockchain technology in the bitcoin era. Let’s take a look at some of those features now.

What is Polkadot?
The idea behind Polkadot is that it allows for multiple blockchains to interact with one another in a secure and reliable way. This means that you can use different chains for different purposes without having to worry about compatibility issues or security vulnerabilities. For example, if you wanted to send some bitcoin from one wallet address to another, all you would have to do is sign off on the transaction using your private key (which only you have access to).

Features
Before we dive into all the reasons why Polkadot is the best cryptocurrency to buy in 2022, let’s take a step back and look at what makes it so special.

Polkadot is a heterogeneous multichain network; rather than having one chain like Ethereum or Bitcoin, it has multiple chains, or parachains. These chains are connected to the relay chain of Polkadot via collators who collect data from the various chains and submit it to the relay chain. The way this connection works is that if a collator submits bad information then they lose a bond they have with the relay chain, which provides an incentive for them to submit only accurate information.

Polkadot is a blockchain protocol that makes it easier for other blockchains to interact with each other. When you use Polkadot, you can share security across multiple blockchains and make data transfers more secure by only exposing the bare minimum of data to the connecting networks. You also share governance rights acroos all the blockchains you connect, which gives everyone equal say in how the network is run. Polkadot also has a shared security model which allows each parachain to share in the collective security provided by all of the other parachains in the network. This allows each chain to be more secure than it would be on its own. The Polkadot network is a shared security blockchain. The Polkadot project hopes to be the bridge between blockchains, allowing data to flow seamlessly from one blockchain to another. This is an inherently safer option than using just one blockchain.

In addition to this shared security, Polkadot also allows information blocks to be shared between different chains via its interchain communication protocol (ICC). This means that not only does Polkadot allow for more secure governance, but also for better data transfer between these various chains, making it much more flexible. Polkadot is an exciting new blockchain technology that allows for the transfer of data across multiple blockchains, enabling cross-chain communication. This blog post will explain Polkadot, its shared security model, and why you should buy it.

Parachains are specific blockchains that can process transactions in parallel; they help the main chain scale. Parathreads are lightweight versions of parachains that provide more flexibility than parachains but less security; they are used by projects that want to participate in the network but don’t need a lot of resources.

There is one relay chain or main chain that connects all of the other chains in the network (parachains, parathreads, dApps, and smart contracts). The relay chain coordinates transaction validation for all the other chains; it provides shared security for all the other chains as well.

Final words
Polkadot is a blockchain protocol that has attracted a lot of attention since its inception. It offers a unique method for allowing different blockchains to interact with each other in a way that hasn’t really been seen before.

Facts about cosmos cryptocurrency

Cosmos is a cryptocurrency that aims to allow various cryptocurrencies to operate together in a system known as the Cosmos Hub in the present Bitcoin Era. The hub functions by allowing its users to create independent blockchains and then connect them. This provides the user with a means of connecting existing cryptocurrencies while also allowing them to create new ones. The project was founded by Ethan Buchman, who remains one of its key figures today. He is joined by Jae Kwon and Zaki Manian, two other key figures in developing the cryptocurrency. Several companies have been involved in the development of Cosmos, including Tendermint, which created the software for the cryptocurrency; Interchain Foundation, which funded the project; and All In Bits Inc., which helped develop its blockchain technology.

Cryptocurrencies require consensus mechanisms to keep them secure and running smoothly. This guide will look at how the Cosmos cryptocurrency uses its unique consensus mechanism, called Tendermint, to achieve this. The Cosmos cryptocurrency (ATOM) is one of many cryptocurrencies that powers a decentralized ecosystem. Using the Cosmos blockchain, developers can create their tokens and blockchains, interacting with other blockchains in the Cosmos ecosystem. This means that they can exchange information and value with each other.

1. The consensus mechanism that’s used in the Cosmos cryptocurrency is called Tendermint. Tendermint, the company that developed Cosmos, has said that they see blockchain as monetary well-being. Their goal with Cosmos is to create a way to organize blockchains so that they aren’t as fragmented as they are now. If you think about it, every blockchain operates independently of all others; there’s no way to communicate with each other or even know that the other exists. With Cosmos, all of these blockchains will be connected through the “Internet of Blockchains.” And this network is itself connected to another network: Ethereum.

2. Cosmos cryptocurrency is a cryptocurrency that enables instant, low-fee, and scalable transactions. It aims to create a new decentralized ecosystem of connected blockchains. This means that developers and businesses can quickly build custom blockchains for their needs without building the entire infrastructure from scratch. Cosmos does this by using “tendermint” to ensure that every node in its network follows the same rules about how transactions are ordered and committed to the blockchain.

3. IoT devices are becoming increasingly popular, but at the same time, they pose significant security risks if not properly secured with encryption algorithms like AES256-GCM or SHA256 hashed passwords (as per NIST guidelines). In addition, there could be some concerns related to privacy because these devices might collect data about users, which third parties could then use without their consent (e.g., location tracking). That’s why we must focus on making sure these systems remain safe while also giving consumers control over their personal information — both now and in the future!

4. The primary objective is to create an open-source project that will allow people to store their personal information securely on any device they choose without fear of being compromised by hackers. Cosmos is a cryptocurrency platform to creates an ecosystem of blockchains that can scale and interoperate with each other. It was launched in March 2019 after raising $16 million through an initial coin offering (ICO) and is based on a blockchain framework called Tendermint Core.

5. A public proof-of-stake (PoS) blockchain, Cosmos uses the Cosmos software development kit (SDK) to allow developers to build custom blockchains while relying on the underlying platform for core functionalities.

6. The mainnet launch of Cosmos was preceded by that of its Hub, called Game of Zones. The event saw validators on the Cosmos Hub compete against each other and the Ethereum mainnet to be the first to confirm cross-chain transactions between their chain and Ether. The first cross-chain transaction between Ethereum and Cosmos took place shortly after the launch of the mainnet. Cosmos has been designed to solve issues faced by existing cryptocurrencies, such as decentralization, interoperability, scalability, and usability. Its ability to connect multiple blockchains into a single hub enables the exchange of assets between different chains without using intermediaries.

The Cosmos cryptocurrency is an open-source, proof-of-stake blockchain platform that proposes to make it easier for blockchain developers to build and maintain blockchains.
The main ways in which Cosmos differs from other blockchains are:

1. It makes it easier for developers to create new blockchains and connect them with existing ones

2. It doesn’t rely on mining like Bitcoin does

3. It has a more formalized structure for validators and delegators

4. It uses a consensus algorithm called Tendermint BFT

Final words
Thu, Cosmos is one of the leading cryptocurrencies that is doing rounds owing to many features that enable its smooth working.

Knowing the lingos of metaverse cryptocurrencies

Humans now entering the second internet revolution, but along with that introduces a great vocabulary of technological phrases which are simple to mistake, combine, or perhaps just misinterpret. Researchers must enlighten themselves immediately since we’re all studying when we step ahead into this world of metaverse introduced cryptocurrency world. Although Bitcoin Future Official Website has been there for a decade, the business, like NFTs and indeed the virtual world, is rapidly expanding.

Thus, with metaverse being the hot fresh sensation in the bitcoin era it becomes of immense importance to have a complete glance into what all the globe of crypto revolves around. In totality, crypto is nothing less than a form of virtual money which needs to be treated with utmost patience. Thus, step ahead as the article unfolds the substantial nature of crypto assets in the present world, along with innumerable crypto coins doing rounds in the space today.

Lingos you must know about
With metaverse crypto having a new and fresh outlook, individuals are not completely aware of all the terms it revolves around. Across the same lines of thoughts include to have a clear glance into everything one must be of view. Thus, given below are the most essential terminologies which you must be completely acquainted with before landing into the crypto world.

Distributed network innovation is a decentralized public database which attains the objective also keeping track of the creation ongoing lifetime of cryptoassets. On the database where the buyers and sellers interact, data is copied then disseminated throughout the community.

Cryptocurrencies seems to be a peer-to-peer electronic monetary system in which payments take place on a shared blockchain. Cryptography, sometimes referred as encryption methods after long, would be any virtual money which is built on distributed ledger technology.

A virtual currency storing wallet account is a software solution and hardware device that securely stores the secret keys required to conduct bitcoin or other virtual currency payments.
An abbreviation for decentralised applications or programs which get operated putting to plate the blockchain platform rather than on a central controller. Thus, dApps prove to be a substantial term of utilization in the crypto world.

Importance of metaverse
Even when the virtual world falls short of the grand image that many of us have for this, it has the potential to dramatically transform the way people communicate only with virtual environment. A collaborative motion simulator, similar to NFT, might open new avenues for producers, players, as well as painters, not always restructuring and yet also creating the producer ecosystem.

The metaverse’s online reality might become another billions of dollars business. A destination for amusement, shopping, which for certain, is just a current workplace. The metaverse is already being referred to as a replacement rather than an augmentation of the online. It is already being constructed with distributed ledgers and decentralised technologies.

Several technology companies are venturing into the virtual world
The metaverse cannot be controlled by a single organisation, however the typical offenders in the technological age are now laying themselves into the rights to the universe’s destiny. Thus, many technology giants are landing their foot into this world of metaverse cryptocurrencies by investing millions into this market. Owing to the buzz metaverse has created in the present world no one can take over the fact of not investing their money into this sector of crypto world.

Gameplay is far advanced of these other astral planes technologies in several ways, and it has the potential to lead the way in the future. Throughout ages, computer games traditionally depended just on notion including in marketplaces, in which participants could transact items which have no actual worth beyond the tournament’s realm.

Organizations having created imaginary environments which incorporate cryptocurrency, allowing players to design and monetise institutions such as virtual gambling and amusement parks. Mana is indeed the money being used Decentraland, but it can be purchased on platforms facilitating its exchange.

The way forward
There would be a necessity for trustless identification, banking sectors, especially elevated trade while behind curtains of something like the mass effect universe. Records must be kept then distributed to thousands, if not trillions, of individuals. The solution to such issues rests in cryptocurrencies innovation.

Becoming A First-Time Grandmother: The Honor Of Embracing A New Sweet Chapter

“You just can’t get enough,” said Gayle King, the beloved TV journalist of CBS ‘This Morning’. Gayle King had hopes to become a grandma for a long time, and now her dream came true. The 66-year-old journalist’s daughter, Kirby Bumpus gave birth to her first son with husband, Virgil Miller. The new addition to the family – named Luca Lynn Miller, left King speechless, and smitten within seconds.
Gayle King’s thoughts on her new grandson
“I’m officially a grandmother! It’s really something when you see your own child become a parent. I am so nuts about him. She also added, “He’s very, very cute…I’m over the moon.” King also told Oprah Daily that she’s always hoped her daughter’s firstborn would be a boy.
Modeling a life of faith and goodness
Gayle King is known as the beloved anchor on This Morning, but throughout the years, we got to see so much more of her life thanks to her openness, vulnerability, and kindness. After watching so much of her life unfold in the public eye, it’s no secret that Christian faith is a huge part of her life. And now that she is a grandma, this is something she gets to pass onto her grandson.

The author of The Life put it well when they wrote, “If Timothy’s grandmother, Lois, had not been faithful in passing on her faith to her daughter, Eunice, and her grandson, Timothy, we probably would not have First and Second Timothy in the Bible today. This is a good generational example of the importance of passing on the faith to future generations. Lois is our forerunner who modeled grandparenting for us.”

In Proverbs 27:19, we can read, “As a face is reflected in water, so the heart reflects the real person”. Needless to say, this is something grandparents around the world can relate to, and strive to teach as they watch their bundle of joy grow.

Crypto YouTubers fall victim to hacking and scamming attempt

With every successful crypto hack and scam executed, hackers are getting bolder and making more audacious moves. They continue to improve their effort to defraud unsuspecting investors of their funds and crypto world Fuente: https://bitcu.co/personajes-influyentes-crypto/.

The latest move executed by these hackers was a cyber attack against crypto influencers on YouTube. The hackers, disguising as the influencers posted unsanctioned videos with tags imploring viewers to send digital coins. 

Crypto YouTube Influencers Hacked

Banking on the available information, the hackers were able to gain access to the YouTube account of Floyd Mayweather, Ivan on Tech, BitBoy Crypto, Altcoin Buzz, and Box Mining. Other YouTube accounts successfully hacked include Crypto Banter, CoinMarmeyCap, and others. 

The video that was distributed across the hacked YouTube accounts implored viewers to send Ethereum, USDT, and Binance coins. Viewers were asked to transfer these coins to the hacker’s wallet in exchange for an “OWYC” token. In fact, a Binance Smart Chain wallet was used by the hacker to receive these coins from unsuspecting viewers. At the time of this writing, a total of nine transfers have been made to the wallet with a cumulative worth below $1,000. 

Victims Allege YouTube Knew About the Hack

To get facts right about the whole situation, Cointelegraph interviewed some of the crypto influencers whose YouTube accounts were hacked. Micheal Gu, the influencer behind Boxmining, told Cointelegraph that a video was posted to his channel without his permission. 

Luckily for Gu, the video was immediately identified and deleted 2 mins after going live. However, some members of his YouTube community have already interacted with the video within a short time. Gu added that he’s done some personal investigation and found no bugs or viruses that may have granted the hackers access to his account. Based on his research he believes that YouTube might have more to play in the hack. 

A Reddit user with the username “90h8m8” in a post suggested that the hackers might have gained access via a SIM swap scam. Through this scam, the hackers would easily circumvent the two-factor authentication (2FA).

The hacker kept posting and talking about a “One World Cryptocurrency ”. They provided a wallet address in the description and also in the video asking viewers to earn the new coin dubbed OWCY. Unfortunately, several viewers have already sent some digital coins to the wallet address provided before the video was brought down. 

While “90h8m8” pitched the possibility of a SIM swap scam Gu wasn’t convinced of the possibility. Gu, talking to Cointelegraph, affirmed that there were no logins on his rival Google account. If the hack happened via a SIM swap scam, he claimed he would also lose access to his phone. And that never happened. 

Gu went on to say that the only thing he and his team noticed was on the BRAND account. BRAND accounts generally don’t have a login as they are linked to the personal account. Gu and his team discovered that there log inogin on the brand account from the Philippines. This indicates the hack was a result of a YouTube security breach or a rogue YouTube employee masterminded the hack. That’s the only explanation that best explains how the hacker got so many accounts at once.

Shash Gupta, the CEO, and founder of the YouTube Channel Altcoin Buzz also gave his opinion about the hack. He affirmed that he and his team noticed something strange on Sunday night at about 1:00 am Singapore time (5:00 pm UTC). That was exactly when the hackers uploaded the video to his YouTube channel. He noted that the whole event was quite unclear and strange. He then implored YouTube to address the situation as soon as possible to avoid any future hack.

Richard Heart, another crypto YouTuber made a tweet at exactly 9:30 pm UTC stating that his channel was suddenly banned. In fact, he claimed the ban happened right in the Livestream. He believes YouTube was in fact informed of the event. 

Following these claims and different theories, Cointelegraph reached out to more crypto YouTubers and YouTube itself. However, no additional information has been sent in at the time of this publication.

Pakistan’s president calls for more training in blockchain technology

Pakistani President Arif Alvi
Pakistani President Arif Alvi

Jimmy Nguyen, a Bitcoin SV supporter, recently met with Arif Alvi, President of Pakistan, and other BSV blockchain experts to discuss how more Pakistanis can be trained in blockchain technology, https://stockhax.com/reviews/merrill-edge-review/.

On Monday, President Arif Alvi announced that the country’s talent pool must be prepared to get more training in preparation for the fourth industrial revolution. The President believes blockchain technology will be a significant sector in the future and calls for additional training from experts in the field.

In recent years, global economies have been leaning towards artificial intelligence, cybersecurity, blockchain technology, and the widespread adoption of digital assets. The Pakistani government is on a mission to stay abreast of new technologies. It is no surprise that the government would select the BSV team for this. BSV uses Bitcoin’s original technology for securely storing and processing massive amounts of data. The blockchain can also provide functions similar to those of the internet, allowing its users more access and control over their data.

Delegating with Experts
President Alvi had a meeting with a group of experts in the crypto industry. These individuals are well-equipped with the knowledge of blockchain technology and other related aspects.

During the meeting, Alvi explained that these upcoming technologies could serve as government tools to monitor financial transactions, increase transparency and limit corruption. He emphasized the government’s lack of proper data-sharing software between parastatals.

The president stated that he hoped local IT startups affiliated with these new technologies would attract investors to the country, seeing that the Pakistani talent pool is already leading some of the largest tech companies in the world. He also pointed out that he would prefer a systematic and inclusive strategy to begin the country’s transition to blockchain technology functions. This means that the government needs to raise awareness and assure lawmakers and citizens of the land of the blockchain’s benefits to legal businesses and the government’s data management.

Jimmy Nguyen, the delegation’s leader, and the BSV’s founderelaborated on how the Bitcoin SV can be used for fintech, banking and payments, extensive data management, digital advertising, health care, customs, and even governing activities such as voting exercises. He explained that the blockchain and the BSV industry contribute to the growth of several governments in the world through these various functions.

At a Pakistani Blockchain Summit, held a few days after the meeting, Nguyen discussed with Coingeek reporters. He said that the BSV team is looking forward to helping Pakistan harness blockchain technology. He referred to the discussions held with the President and the Minister of Science and Technology, Mr. Shilbi Faraz. Further, He stated that the summit provided a great chance to network with the notable individuals dedicated to building a blockchain community in the country.

Following the meeting, the President announced the appointment of a new senior minister of finance to serve the country’s Balochistan Province, Noor Mohammad. The new minister, as well as other federal ministries of finance and law, has yet to release a statement on proposed legislation and policies seeking to ban the trade of cryptocurrencies in Pakistan potentially.

The Legality of Cryptos in Pakistan
The State Bank of Pakistan is arguing in support of banning cryptocurrencies. The central bank claims digital assets like Bitcoin should be declared illegal and prohibited from trade. This proposal will more or less push back the progress of crypto users and investors in the last decade.

According to Chinanalysis, a crypto analytic firm, Pakistan has the third-highest rate of cryptocurrency adoption as of October 2021. The two countries ranked first and second in the report are Vietnam and India. About $10 million in crypts have been traded in transfers, contributing to 28% of the global transactions. The State Bank also hinted that it had begun developing its digital currency, the Pakistan Central Bank cryptocurrency.

Despite these statistics, some politicians and legislators in the country believe that cryptos are being used to promote fraudulent activities in the country.

This notion was compounded by a crypto scam that shook so many investors; many crypto users were misled into depositing their coins into unknown third-party wallets, leading to a multi-million dollar loss for all involved. To prevent such a thing from happening again, the Pakistan Telecommunications Authority has blocked third-party websites which deal in crypto trades.

Spanish government will implement new rules for crypto ads

The Spanish government has announced a new set of digital currenciesregulatory policies through the Comisión Nacional del Mercado de Valores (CNMV). These new policies are set to be implemented on the 17th of this month.

The CNMV revealed that crypto operators now have to report proposed ads at least ten days before running them in public spaces, especially ads targeting at least 100,000 people. These new requirements come at a time when many governments around the world are putting up restrictions against cryptocurrency promotions. 

New Restrictions

The released memo for crypto-asset investment advertising stresses that proposed ads must be balanced and fair. It must be easy for customers to understand and digest the passed messages. The circular also stated that the promotion materials must contain enough information on the good and bad aspects of the investment; that is, the risks and benefits of investing in crypto must always be highlighted.

The CNMV will serve as the government’s watchdog for crypto activities. The agency will be in charge of supervising all crypto advertising activities. According to the new rules, advertisers must always report ads targeting over 100,000 people ten days in advance, giving the regulator enough time to vet the ad and decide whether or not it is safe enough to be dispersed. It is no secret that social media influencers are one of the main mediums for passing cryptographic information. Hence, the latest directives clarify that influencers are also affected by the new guidelines.

Basically, the rules affect every crypto service provider and all third parties involved.

Another vital piece of information is that all crypto ads must henceforth include an excerpt or snippet informing the targeted audience of the volatile regulations in the crypto industry. The snippet must also convey the risks involved in the venture, emphatically stating that the total amounts invested could be lost. The CNMV also requires that these crypto ads provide hyperlinks directing the audience to more information.

For now, only advertisements are being restricted. It is unclear whether or not the issuance of digital assets and other crypto-related services will also be affected in the coming months.

Previous Consultations

The Spanish government’s attention has been drawn to the rapidly growing crypto space for more than a year. The officials in the government claim that digital assets pegged to the country’s FIAT currency could put the entire financial system at risk. To this effect, public consultations were held in the last year. About this time last year, the CNMV made a statement with the Bank of Spain to warn residents off investing in cryptocurrency ventures. 

The statement described e-currencies like Ethereum and Bitcoin as having high price volatility. The agencies also said that most of the advertisements out there were solely meant to attract investors without giving a clue about the dangers involved. At that time, over 7,000 cryptocurrencies were operating within the Spanish crypto space. Hence, the joint statement urged investors to be wary of these complex instruments, stressing that not all are appropriate for small-scale investors. The report also clarified the promotion of leveraged derivative products as high-risk investments, as they have been indirectly linked to digital assets. The more complex an investment is, the higher the probability of incurring substantial losses.

Most of the warnings in the statement failed to reach their target audience as many crypto operators doled out more advertisements to persuade investors, which has led to stricter measures being implemented in two weeks. The new directives will ensure investors have extensive knowledge of digital currencies before making any initial investments.

Last year, soccer star Andres Iniesta was warned against promoting Binance, one of the leading cryptocurrency exchanges worldwide. The CNMV scolded the talent after posting a series of ads on his Twitter and Instagram accounts for the Binance group. The agency stated that he must make proper findings of cryptocurrencies before investing or recommending the app to his audience.

The United Kingdom and Singapore have taken similar measures to curb illegal activities using digital currencies. The aggressive advertising strategies by crypto operators have been observed to be a leading cause of the significant increase in crypto investors globally. So, these governments are determined to crack down on these ads. All these governments want are non-misleading advertisements that portray the dangers of crypto investing.

Bank of Korea completes the first phase of digital currency pilot

Regulators and policymakers across the globe have been investigating central bank digital currencies (CBDCs). These digital fiat currencies are conceived to be controlled and issued by these financial institutions, primarily a country’s central bank, visit BitIQ official site

According to reports over fifty central banks and financial administration are evaluating CBDCs. The report that backs this claim is reported by Ruters and provided by the  Bank for International Settlements

Around July 2021, The Bank of Korea first made its intentions known about creating its own digital currency. Based on reports from The Korea Herald, the Bank of Korea, together with Ground X, a blockchain associate of Kakao, are in charge of the pilot study. 

The Pilot Study is designed into two distinct phases. The first phase kicked off in August 2021 according to a report from The Korea Herald. The primary stakeholders planned to complete the first phase by December of last year but it has now been extended to January of 2022.  

The first phase was designed to concentrate on the most basic functionality of digital currency. As for the second phase, the advanced functionality kike privacy concerns of the digital coin will be focused on. 

According to the CEO of Onther, Junsik Sim, several firms will be participating in the tests. These include; Kakao Pay, an online payment service, and Kakaobank, a digital lender. 

The First Phase of South Korea’s CBDC Testing 

On the 24th of January, 2022, the Bank of Korea gave the much-anticipated announcement. The Bank affirmed that it has finalized the first phase of the pilot study on the functionality of CBDC. Presently, the bank of Korea is evaluating the likelihood of integrating the newly developed form of money into the general public. Hopefully, that would be immediately after the second phase of testing is finalized. 

According to the Yonhap News Agency, the first phase of testing proves to be very successful. However, the second phase will be the deciding test as to whether or not the digital fiat currency will be implemented. According to the bank of Korea, the first test kicked off in August of 2021 and was finalized in January 2022. 

According to the test, the Bank of Korea has affirmed that CBDC showed natural achievement in a cloud-based setting. The second phase is now being prepared for and it is scheduled to be finalized by June 2022. 

The bank of Korea asserted in a press release that the possibility of executing numerous functions will be evaluated. These functions include the integration of new technologies and offline settlements. Technologies like one aimed at strengthening the protection of privacy will be tested during the second phase of testing. 

Further reports from CoinTelegraph also confirmed that the first phase of testing for the digital fiat currency in South Korea was smooth. The report claims that the first test involved testing the basic use of digital currency as regards insurance and distribution. The second phase, on the other hand, will involve testing the digital currency for real-life use cases. Functionalities such as offline payments, retail payments, and cross-border remittances will be tested. 

It was also reported that the bank of Korea is also evaluating the unloading of monetary organizations in the second phase of testing. The second phase is said to share unique similarities with what China is executing with its digital fiat currency at the moment. 

Immediately after the testing is finalized by June, the bank of Korea then has to decide its launch. If the second phase is smooth and successful, the bank will then go ahead to launch and also discuss commercialization.

With the first phase of testing completed, South Korea is now among the few countries to have begun and finalized a pilot stage of their CBDC testing. According to information made available by the Atlantic Council, a lot of nations are beginning to wake up CBDC. Presently, about 91 counties are researching their independent digital fiat currency. However, only these countries have completed the pilot phase.