From East to West: Bitget Sheds Light on Global Crypto Goals

Bitget just dropped a study that gives us a peek into what crypto comrades around the world are really after. πŸ‘¨β€πŸ”§

Spanning from May to August 2023, this research roped in over 1,500 participants from 20 countries. We’re talking Europe, China, Japan, South Korea, Turkey, and a few English-speaking nations.

Here’s some of the juicy bits:

Living the Dream: Most crypto investors are all about leveling up their living standards. South Korea’s leading the pack with 46% of its investors gunning for a better life. Meanwhile, 36% of Malaysians and Taiwanese are putting family first, aiming to boost that family income.

The Gender Game: Ladies and gents, turns out our financial goals aren’t always on the same page. In places like South Korea and Japan, more women (49% and 41%, respectively) focus on their finances. But in South Korea, 17% of the guys are about family finance life.

Educate to Elevate: For the moms out there, especially in Turkey and the US, nearly 27% are using their crypto gains to fund their kiddos’ education. Talk about planning for the future!

Big Spenders: A whopping 19% of Chinese polled are investing over $100,000. Meanwhile, about half of the investors are playing it cool in Europe, Turkey, and South Korea, putting in $1,000 to $10,000.

You can read the full report here. 🌍

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Crypto 101: Journeying Into the World of Decentralized Exchanges (DEXs)

A crucial part of the crypto world, decentralized exchanges, or DEXs, enable traders to transact directly with each other without the need for intermediaries like banks or traditional exchanges. Instead of relying on a central authority to oversee and authorize transactions, DEXs utilize blockchain technology to facilitate and validate peer-to-peer trades.

Key characteristics of DEXs:

  • Peer-to-peer trading 🀝: In a DEX, the trading process involves a direct exchange between two parties.
  • Non-custodial πŸ’Ό: DEXs do not hold your funds. Instead, you retain complete control of your assets.
  • Operates using smart contracts πŸ€–: Trades are executed and facilitated through smart contracts, self-executing contracts with the terms of the agreement directly written into the code.

The Inner Workings of DEXs

DEXs operate on blockchain networks that support smart contracts, such as Ethereum and Binance Smart Chain ($BNB). When a trade is initiated on a DEX, the platform’s smart contract kicks into gear, automatically executing the transaction following its predetermined set of rules. This ensures that the terms agreed upon by both parties are adhered to without the need for trust or the oversight of a third party.

πŸ’‘Remember: In a DEX, the platform itself never comes into contact with your funds. Everything is managed within the blockchain through the smart contract!

Advantages of DEXs: Trading with Freedom and Privacy

Decentralized exchanges bring a host of unique advantages to the table:

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Mixin Network’s $200M Hack Saga

Mixin Network got hit with a $200M exploit, but there is a plot twistβ€”they’re offering the hacker a $20M “bug bounty” to return the funds. 🌌

Yes, you read that right. They’re like, “Hey, Mr. Hacker, keep $20M and give us the rest back.”

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Maximizing Returns: How DeFi Merges Growth And Yield

A not-so-obvious secret in the crypto world, especially among well-capitalized individuals and entities like hedge funds and institutions, is the allure of Decentralized Finance (DeFi). πŸ’‹

Despite traditional finance and crypto critics scoffing at DeFi since the market peak in August 2021, savvy players with a long-term perspective have quietly accumulated boatloads in the space.

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