2022 has been a very eventful year in the crypto space. We are just a month into the second quarter and already there have been major talking points. CashFi news… The most prominent of these is the culmination of events that occurred in a week in May, which many call the “craziest week in crypto history.” These events shook the entire crypto market and sector, with many crypto tokens taking severe hits to their market value.
In the aftermath, the crypto market is reverting to normalcy, and many currencies are experiencing an increase in value. As an investor, now is the perfect time to back a token, but that decision may be more challenging than expected. Bitcoin (BTC), Stellar (XLM) and CashFi (CFI) are worth looking at for every investor in 2022.
It goes without saying why Bitcoin (BTC) is on this list. It’s the original and most popular cryptocurrency on the planet, and perhaps the one most likely to fetch you a profit. When an investor looks for a project to invest in, Bitcoin (BTC) is often the first on the list. You could even call it a no-brainer.
Bitcoin (BTC) was one of the crypto coins heavily affected by the events in May, with the token plummeting about 40% in value. However, it has since risen from the slump of that unfortunate week and is currently on an upward trajectory. Bitcoin (BTC) now has a market cap of $552.25 billion and is by far the largest cryptocurrency on the planet.
At the moment, there are a handful of platforms through which users can make payments across borders. The platforms that provide these services have two things in common, slow speeds and expensive costs. With the blockchain, however, these transactions can be faster and cheaper.
The need for payment services that are fast, reliable and accessible to everyone, most especially people from the world’s unbanked population, is paramount. Stellar (XLM) seeks to provide access to these services. It’s a crypto platform that connects the unbanked with access to financial services.
Through Stellar (XLM), money moves across borders at a faster and cheaper rate than existing systems. The platform is designed to connect people to low-cost financial services to fight poverty and develop individual potential.
Current financial systems can take longer to process cross-border transactions and are expensive. Furthermore, there is no provision for transactions for people without bank accounts. Stellar (XLM) is removing these hassles from cross-border transactions, and the most exciting part is it can be utilised by people who do not have bank accounts.
Additionally, Stellar (XLM) has an automatic currency exchange with fiat currencies and other cryptocurrencies, which eliminates the need for conversion by the user or a third party. The cost of moving money on Stellar (XLM) is kept very low to allow lots of people to access the platform.
At the moment, XLM, the native crypto of the Stellar (XLM) platform, is in the top 30 cryptocurrencies by market cap.
CashFi (CFI) is a decentralised finance (De-Fi) platform that aims to usher in the next generation of liquid staking through several features. The platform will use a distinctive fee-sharing approach to provide investors with a plethora of asset classes.
A key tenet to CashFi’s (CFI) approach to De-Fi is collaboration and interconnection. The platform aims to utilise these tools to allow its users access to several asset classes such as Liquid Staking, NFTs and Synthetics. The platform is designed to unite the blockchain ecosystem to provide faster, cost-effective and more scalable solutions.
Diversity, creativity, service quality continuance and Interoperability are the cornerstones of CashFi (CFI). The platform is well-versed in staking solutions, and its protocol will be used to allow users to unlock liquidity for a higher yield by staking the platform’s native token, CFI.
Additionally, CashFi (CFI) will provide an inter-chained NFT marketplace and a dedicated creator’s centre to assist users in minting NFTs on multiple blockchains smoothly and cost-effectively.
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