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width="1200px"><ul class="mobile_nav"><li class="top_links"><span class="link_title "><p>Earn</p><img class="drop_arrow" src="/pic/mobile-drop.svg" alt="Earn"/></span><div class="sub_drop "><ul class="drop_block "><li class="drop_link "><a href="/nft/fend">🔥 NFT interest account<!-- --> <span class="label_heading yellow">+26% APY</span><p class="description">CHO, DAI, USDC and USDT</p></a></li><li class="drop_link "><a href="/earn">Web 3.0 interest accounts<!-- --> <p class="description">Stake USDT, USDC</p></a></li><li class="drop_link "><a href="/dual-currency-interest-account">Dual currency interest accounts<!-- --> <span class="label_heading ">Up to 50%</span><p class="description">Highest income rates</p></a></li><li class="drop_link "><a href="/interest-accounts">Interest accounts<!-- --> <span class="label_heading ">Up to 10.7%</span><p class="description">Earn on your crypto</p></a></li><li class="drop_link "><a href="/price-insurance">Price insurance<!-- --> <p class="description">Hedge your risks with Choise.com</p></a></li><li class="drop_link "><a href="/predictions">Price predictions<!-- --> <p class="description">Predict prices, win big</p></a></li></ul></div></li><li class="top_links"><span class="link_title "><p>Explore</p><img class="drop_arrow" src="/pic/mobile-drop.svg" alt="Explore"/></span><div class="sub_drop "><ul class="drop_block "><li class="drop_link "><span class="link_title_sub ">Wallet<img class="drop_arrow sub" src="/pic/main-nav-drop-arrow.svg" alt="Wallet"/></span><p class="description">All-in-one multi-coin wallet</p></li><li class="drop_link "><a href="/cards">VISA card<!-- --> <p class="description">Plastic & Virtual</p></a></li><li class="drop_link "><a href="/charism">Charism platform<!-- --> <p class="description">Earn with the top DeFi products</p></a></li><li class="drop_link "><span class="link_title_sub ">NFT<img class="drop_arrow sub" src="/pic/main-nav-drop-arrow.svg" alt="NFT"/></span><p class="description">Choise.com collections</p></li><li class="drop_link "><a href="/dao">DAO<!-- --> <p class="description">Your voice matters</p></a></li></ul></div></li><li class="top_links"><span class="link_title "><p>Tokens</p><img class="drop_arrow" src="/pic/mobile-drop.svg" alt="Tokens"/></span><div class="sub_drop "><ul class="drop_block "><li class="drop_link "><a href="/tokenomics">Tokenomics<!-- --> <p class="description">Use MetaFi tokens to the maximum</p></a></li><li class="drop_link "><span class="link_title_sub ">CHO<img class="drop_arrow sub" src="/pic/main-nav-drop-arrow.svg" alt="CHO"/></span></li><li class="drop_link "><a href="/crpt">CRPT<!-- --> </a></li><li class="drop_link "><a href="/million4cho">🔥 Win $1,000,000 for 1 tweet<!-- --> <p class="description">Literally, just publish 1 single tweet</p></a></li></ul></div></li><li class="top_links"><a href="/business">Business</a></li><li class="top_links"><span class="link_title "><p>About</p><img class="drop_arrow" src="/pic/mobile-drop.svg" alt="About"/></span><div class="sub_drop "><ul class="drop_block "><li class="drop_link "><a href="/news">Blog<!-- --> <p class="description">Know as much as our CEO</p></a></li><li class="drop_link "><a href="/rebranding">Rebranding<!-- --> <p class="description">5 years of success</p></a></li><li class="drop_link "><a href="/wallet/referral">Referral program<!-- --> <p class="description">Invite friends and earn with us</p></a></li><li class="drop_link "><a href="/ambassador">Ambassador program<!-- --> <p class="description">Invest effort and be rewarded</p></a></li></ul></div></li><li class="top_links"><a href="/help">Support</a></li></ul><div class="sc-da7e5111-0 bvMnuY"><a href="https://crpt.onelink.me/WpQ0/enx4azef" target="_blank" rel="noreferrer nofollow" class="app_link">Open a free wallet</a><p class="copyright">2022 © Charism LLC, registry code: 1999 LLC 2022, Address: Beachmont Business Centre, Suite 336, Kingstown, Saint Vincent and the Grenadines</p></div></div></div><header class="sc-396d3095-0 dgFVAg "><div class="sc-e7592e74-0 cCxdvk center_block " width="1200px"><div class="left_block"><div class="logo"><a href="/"><img src="/pic/logo.svg" alt="Choise.com"/></a></div><ul class="sc-bf2b90fe-0 guuXBM main_nav"><li class="nav_item"><p class="nav_item_title">Earn<!-- --> </p><div class="drop_menu"><ul class="main_drop_list"><li class="drop_item "><a href="/nft/fend"><p class="drop_title drop_title_sub">🔥 NFT interest account<!-- --> <span class="label yellow">+26% APY</span></p><span class="drop_description">CHO, DAI, USDC and USDT</span></a></li><li class="drop_item "><a href="/earn"><p class="drop_title drop_title_sub">Web 3.0 interest accounts<!-- --> </p><span class="drop_description">Stake USDT, USDC</span></a></li><li class="drop_item "><a href="/dual-currency-interest-account"><p class="drop_title drop_title_sub">Dual currency interest accounts<!-- --> <span class="label ">Up to 50%</span></p><span class="drop_description">Highest income rates</span></a></li><li class="drop_item "><a href="/interest-accounts"><p class="drop_title drop_title_sub">Interest accounts<!-- --> <span class="label ">Up to 10.7%</span></p><span class="drop_description">Earn on your crypto</span></a></li><li class="drop_item "><a href="/price-insurance"><p class="drop_title drop_title_sub">Price insurance<!-- --> </p><span class="drop_description">Hedge your risks with Choise.com</span></a></li><li class="drop_item "><a href="/predictions"><p class="drop_title drop_title_sub">Price predictions<!-- --> </p><span class="drop_description">Predict prices, win big</span></a></li></ul></div></li><li class="nav_item"><p class="nav_item_title">Explore<!-- --> </p><div class="drop_menu"><ul class="main_drop_list"><li class="drop_item "><p class="drop_title drop_title_item">Wallet<!-- --> </p><span class="drop_description">All-in-one multi-coin wallet</span><div class="sub_drop_menu"><ul class="sub_drop_list"><li class="drop_item "><a href="/wallet"><p class="drop_title drop_title_sub">About wallet<!-- --> </p><span class="drop_description">Ultimate crypto wallet</span></a></li><li class="drop_item "><a href="/wallet/buy"><p class="drop_title drop_title_sub">Buy crypto<!-- --> </p><span class="drop_description">Visa, Mastercard</span></a></li><li class="drop_item "><a href="/wallet/exchange"><p class="drop_title drop_title_sub">Exchange<!-- --> </p><span class="drop_description">Enjoy best rates</span></a></li><li class="drop_item "><a href="/wallet/cashout"><p class="drop_title drop_title_sub">Cashout<!-- --> </p><span class="drop_description">Withdaw funds to bank cards</span></a></li><li class="drop_item "><a href="/wallet/send"><p class="drop_title drop_title_sub">Send<!-- --> </p><span class="drop_description">Use free international money transfers</span></a></li><li class="drop_item "><a href="/wallet/spend"><p class="drop_title drop_title_sub">Spend<!-- --> </p><span class="drop_description">Pay with VISA cards, plastic and virtual</span></a></li></ul></div><div class="drop_arrow"><img src="/pic/main-nav-arrow.svg" alt="Wallet"/></div></li><li class="drop_item "><a href="/cards"><p class="drop_title drop_title_sub">VISA card<!-- --> </p><span class="drop_description">Plastic & Virtual</span></a></li><li class="drop_item "><a href="/charism"><p class="drop_title drop_title_sub">Charism platform<!-- --> </p><span class="drop_description">Earn with the top DeFi products</span></a></li><li class="drop_item "><p class="drop_title drop_title_item">NFT<!-- --> </p><span class="drop_description">Choise.com collections</span><div class="sub_drop_menu"><ul class="sub_drop_list"><li class="drop_item "><a href="/nft/fend"><p class="drop_title drop_title_sub">🔥 NFT interest account<!-- --> <span class="label yellow">Up to 25%</span></p><span class="drop_description">CHO, DAI, USDC and USDT</span></a></li><li class="drop_item "><a href="/charism/beta"><p class="drop_title drop_title_sub">NFT for beta testers<!-- --> </p><span class="drop_description">Exclusive offer for Charism testers</span></a></li><li class="drop_item "><a href="/nft"><p class="drop_title drop_title_sub">CHO NFT Collection<!-- --> </p><span class="drop_description">First in space NFT token sale</span></a></li></ul></div><div class="drop_arrow"><img src="/pic/main-nav-arrow.svg" alt="NFT"/></div></li><li class="drop_item "><a href="/dao"><p class="drop_title drop_title_sub">DAO<!-- --> </p><span class="drop_description">Your voice matters</span></a></li></ul></div></li><li class="nav_item"><p class="nav_item_title">Tokens<!-- --> </p><div class="drop_menu"><ul class="main_drop_list"><li class="drop_item "><a href="/tokenomics"><p class="drop_title drop_title_sub">Tokenomics<!-- --> </p><span class="drop_description">Use MetaFi tokens to the maximum</span></a></li><li class="drop_item "><p class="drop_title drop_title_item">CHO<!-- --> </p><span class="drop_description"></span><div class="sub_drop_menu"><ul class="sub_drop_list"><li class="drop_item "><a href="/cho"><p class="drop_title drop_title_sub">About CHO<!-- --> </p><span class="drop_description">Choise.com token</span></a></li><li class="drop_item "><a href="/cho/exchanges"><p class="drop_title drop_title_sub">CHO markets<!-- --> </p><span class="drop_description">Listed on top exchanges</span></a></li></ul></div><div class="drop_arrow"><img src="/pic/main-nav-arrow.svg" alt="CHO"/></div></li><li class="drop_item "><a href="/crpt"><p class="drop_title drop_title_sub">CRPT<!-- --> </p><span class="drop_description"></span></a></li><li class="drop_item "><a href="/million4cho"><p class="drop_title drop_title_sub">🔥 Win $1,000,000 for 1 tweet<!-- --> </p><span class="drop_description">Literally, just publish 1 single tweet</span></a></li></ul></div></li><li class="nav_item"><a class="nav_item_title" href="/business">Business<!-- --> </a></li><li 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href="https://metamask.app.link/dapp/choise.com/"><span class="icon_title"><img src="/pic/nft/connect-wallet-icons/metamask.svg" alt="Metamask"/>Metamask</span><span class="label">Popular</span></a><p class="install_description">How to <a href="/news/tutorials/how-to-install-metamask">install Metamask?</a></p></div><div class="buttons_item"><button class="wallet_button "><span class="icon_title"><img src="/pic/nft/connect-wallet-icons/wallet-connect.svg" alt="WalletConnect"/>WalletConnect</span></button></div><div class="buttons_item"><button class="wallet_button "><span class="icon_title"><img src="/pic/nft/connect-wallet-icons/binance-smart-wallet.svg" alt="Binance Smart Wallet"/>Binance Smart Wallet</span></button></div><div class="buttons_item"><button disabled="" class="wallet_button soon"><span class="icon_title"><img src="/pic/nft/connect-wallet-icons/coinbase-wallet.svg" alt="Coinbase Wallet"/>Coinbase Wallet</span><span class="label 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class="sc-25cbe3a1-0 fmmnff item"><div class="top_content"><a href="/news/tutorials/how-to-withstand-crypto-winter-2023">How to withstand crypto winter 2023</a><div class="image"><img title="How to withstand crypto winter 2023" alt="How to withstand crypto winter 2023" srcSet="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2F1a932ca3-244a-4f7f-ae26-4369561e7a06.png&w=3840&q=75 1x" src="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2F1a932ca3-244a-4f7f-ae26-4369561e7a06.png&w=3840&q=75" width="3840" height="2160" decoding="async" data-nimg="1" class="directus_image " style="color:transparent"/></div><div class="card_content"><h3>How to withstand crypto winter 2023</h3><p>Discover crypto market cycles with Choise.com and learn how to navigate periods of sustained decline in the prices.</p></div></div><ul class="time_date"><li>Jan 27, 2023</li><li>11:01</li><li>2 min reading</li></ul></article><article class="sc-25cbe3a1-0 fmmnff item"><div class="top_content"><a href="/news/tutorials/what-is-crypto-winter-and-crypto-summer">What is crypto winter and crypto summer. All you need to know</a><div class="image"><img title="What is crypto winter and crypto summer. All you need to know" alt="What is crypto winter and crypto summer. All you need to know" srcSet="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2Fe9f57d23-e41d-4cfe-8f29-921b032a7b51.png&w=3840&q=75 1x" src="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2Fe9f57d23-e41d-4cfe-8f29-921b032a7b51.png&w=3840&q=75" width="3840" height="2160" decoding="async" data-nimg="1" class="directus_image " style="color:transparent"/></div><div class="card_content"><h3>What is crypto winter and crypto summer. All you need to know</h3><p>A guide on how to navigate the ups and downs of the cryptocurrency market and make informed investment decisions.</p></div></div><ul class="time_date"><li>Jan 25, 2023</li><li>09:01</li><li>2 min reading</li></ul></article><article class="sc-25cbe3a1-0 fmmnff item"><div class="top_content"><a href="/news/tutorials/opensea-chobies-protect-yourself-from-scammers">OpenSea and Chobies. How to protect yourself from scammers</a><div class="image"><img title="OpenSea and Chobies. How to protect yourself from scammers" alt="OpenSea and Chobies. How to protect yourself from scammers" srcSet="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2F6cf8dae5-0814-49e5-bb84-baea23039d2f.png&w=3840&q=75 1x" src="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2F6cf8dae5-0814-49e5-bb84-baea23039d2f.png&w=3840&q=75" width="3840" height="2160" decoding="async" data-nimg="1" class="directus_image " style="color:transparent"/></div><div class="card_content"><h3>OpenSea and Chobies. How to protect yourself from scammers</h3><p>How does the secondary market OpenSea work? What should I do if I bought scam Choby? All questions answered.</p></div></div><ul class="time_date"><li>Jan 18, 2023</li><li>10:01</li><li>2 min reading</li></ul></article><article class="sc-25cbe3a1-0 fmmnff item"><div class="top_content"><a href="/news/tutorials/how-can-i-transfer-my-choby">How can I transfer my Choby</a><div class="image"><img title="How can I transfer my Choby" alt="How can I transfer my Choby" srcSet="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2F662f9d58-f21f-4e84-a80f-c3457caf38bc.png&w=3840&q=75 1x" src="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2F662f9d58-f21f-4e84-a80f-c3457caf38bc.png&w=3840&q=75" width="3840" height="2160" decoding="async" data-nimg="1" class="directus_image " style="color:transparent"/></div><div class="card_content"><h3>How can I transfer my Choby</h3><p>A step-by-step guide to transferring your Choby NFT to the other ERC-20 wallet.</p></div></div><ul class="time_date"><li>Jan 17, 2023</li><li>11:01</li><li>2 min reading</li></ul></article><article class="sc-25cbe3a1-0 fmmnff item"><div class="top_content"><a href="/news/tutorials/how-to-check-money-prize-inside-choby">How to check that the money prize is still inside the Choby you buy on the secondary market?</a><div class="image"><img title="How to check that the money prize is still inside the Choby you buy on the secondary market?" alt="How to check that the money prize is still inside the Choby you buy on the secondary market?" srcSet="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2F2dd75963-2f35-47a3-b8d0-a01ec783dd0f.png&w=3840&q=75 1x" src="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2F2dd75963-2f35-47a3-b8d0-a01ec783dd0f.png&w=3840&q=75" width="3840" height="2160" decoding="async" data-nimg="1" class="directus_image " style="color:transparent"/></div><div class="card_content"><h3>How to check that the money prize is still inside the Choby you buy on the secondary market?</h3><p>Planning to buy a Choby on the secondary market and willing to check if the money prize is still inside it? Follow the simple steps described here.</p></div></div><ul class="time_date"><li>Jan 13, 2023</li><li>06:01</li><li>2 min reading</li></ul></article><article class="sc-25cbe3a1-0 fmmnff item"><div class="top_content"><a href="/news/tutorials/how-to-mint-choby-nft">How to mint Choby NFT</a><div class="image"><img title="How to mint Choby NFT" alt="How to mint Choby NFT" srcSet="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2Fda63e0c5-d02a-416f-a634-daf980bdded8.png&w=1920&q=75 1x, /_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2Fda63e0c5-d02a-416f-a634-daf980bdded8.png&w=3840&q=75 2x" src="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2Fda63e0c5-d02a-416f-a634-daf980bdded8.png&w=3840&q=75" width="1920" height="1080" decoding="async" data-nimg="1" class="directus_image " style="color:transparent"/></div><div class="card_content"><h3>How to mint Choby NFT</h3><p>A Step-by-Step guide on how to mint the unique NFTs with cute unrepeatable images of Chobies backed by tokens inside.</p></div></div><ul class="time_date"><li>Dec 22, 2022</li><li>11:12</li><li>2 min reading</li></ul></article><article class="sc-25cbe3a1-0 fmmnff item"><div class="top_content"><a href="/news/tutorials/how-to-install-metamask">How to connect MetaMask</a><div class="image"><img title="How to connect MetaMask" alt="How to connect MetaMask" srcSet="/_next/image?url=https%3A%2F%2Fwp.prod.testessential.net%2Fwp-content%2Fuploads%2F2022%2F10%2FHow_to_install_MetaMask_blog.png&w=640&q=75 1x, /_next/image?url=https%3A%2F%2Fwp.prod.testessential.net%2Fwp-content%2Fuploads%2F2022%2F10%2FHow_to_install_MetaMask_blog.png&w=828&q=75 2x" src="/_next/image?url=https%3A%2F%2Fwp.prod.testessential.net%2Fwp-content%2Fuploads%2F2022%2F10%2FHow_to_install_MetaMask_blog.png&w=828&q=75" width="400" height="400" decoding="async" data-nimg="1" class="directus_image " style="color:transparent"/></div><div class="card_content"><h3>How to connect MetaMask</h3><p>Learn how to install the MetaMask wallet, add the Binance Smart Chain (BSC) mainnet and connect MetaMask wallet to Choise.com website.</p></div></div><ul class="time_date"><li>Oct 27, 2022</li><li>10:10</li><li>2 min reading</li></ul></article><article class="sc-25cbe3a1-0 fmmnff item"><div class="top_content"><a href="/news/tutorials/blockchain-bridges-a-comprehensive-guide">Blockchain Bridges: A Comprehensive Guide</a><div class="image"><img title="Blockchain Bridges: A Comprehensive Guide" alt="Blockchain Bridges: A Comprehensive Guide" srcSet="/_next/image?url=https%3A%2F%2Fwp.prod.testessential.net%2Fwp-content%2Fuploads%2F2022%2F09%2Fimgonline-com-ua-Compressed-kKUCcqrTy9JdjmK.jpg&w=640&q=75 1x, /_next/image?url=https%3A%2F%2Fwp.prod.testessential.net%2Fwp-content%2Fuploads%2F2022%2F09%2Fimgonline-com-ua-Compressed-kKUCcqrTy9JdjmK.jpg&w=828&q=75 2x" src="/_next/image?url=https%3A%2F%2Fwp.prod.testessential.net%2Fwp-content%2Fuploads%2F2022%2F09%2Fimgonline-com-ua-Compressed-kKUCcqrTy9JdjmK.jpg&w=828&q=75" width="400" height="400" decoding="async" data-nimg="1" class="directus_image " style="color:transparent"/></div><div class="card_content"><h3>Blockchain Bridges: A Comprehensive Guide</h3><p>No time to read? Then watch the video! Table of Contents: What is Bridging In Crypto? Bridge Use Cases Different Bridges’ Categories Risks &amp; Precautions The blockchain market has gone through many changes since the Bitcoin whitepaper was published in 2008. Its key attribute is the iconic decentralized model, whereby no single entity or foundation</p></div></div><ul class="time_date"><li>Sep 15, 2022</li><li>07:09</li><li>2 min reading</li></ul></article><article class="sc-25cbe3a1-0 fmmnff item"><div class="top_content"><a href="/news/tutorials/cefi-crypto-all-about-centralized-finance">CeFi Crypto: All About Centralized Finance</a><div class="image"><img title="CeFi Crypto: All About Centralized Finance" alt="CeFi Crypto: All About Centralized Finance" srcSet="/_next/image?url=https%3A%2F%2Fwp.prod.testessential.net%2Fwp-content%2Fuploads%2F2022%2F09%2Fimgonline-com-ua-Compressed-WqHVNdg4M4Zi.jpg&w=640&q=75 1x, /_next/image?url=https%3A%2F%2Fwp.prod.testessential.net%2Fwp-content%2Fuploads%2F2022%2F09%2Fimgonline-com-ua-Compressed-WqHVNdg4M4Zi.jpg&w=828&q=75 2x" src="/_next/image?url=https%3A%2F%2Fwp.prod.testessential.net%2Fwp-content%2Fuploads%2F2022%2F09%2Fimgonline-com-ua-Compressed-WqHVNdg4M4Zi.jpg&w=828&q=75" width="400" height="400" decoding="async" data-nimg="1" class="directus_image " style="color:transparent"/></div><div class="card_content"><h3>CeFi Crypto: All About Centralized Finance</h3><p>Table of Contents: How To Earn With CeFi Features of CeFi What are the risks of CeFi? CeFi (short of Centralized Finance) is a traditional financial approach, where the users can earn interest and get loans through centralized cryptocurrency exchanges. On the opposite side stands DeFi (Decentralized Finance) – an approach where the token holder</p></div></div><ul class="time_date"><li>Sep 14, 2022</li><li>13:09</li><li>2 min reading</li></ul></article></div><div class="sc-bf0dd4a1-0 kurpRj pagination"></div></div></div></section></main><footer class="sc-c9bd3179-0 oPhbk"><div class="sc-e7592e74-0 cCxdvk center_block " width="1200px"><div class="top_block"><div class="content"><p class="description">The Choise website and Choise mobile apps are owned by the company incorporated in the Republic of Seychelles with company number IBC No. 233581, registered office at 102, Aarti Chambers, Mont Fleuri, Victoria, Mahe, Seychelles which is regulated by the laws of that country. 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What is crypto winter?\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow is crypto winter different from a bear market?\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe advantages and concerns about crypto winters\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow can you predict a crypto winter?\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow to withstand a crypto winter?\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eConclusion. The importance of making weighted decisions in crypto\u003c/span\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eIntroduction. What is crypto winter?\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003ca href=\"https://choise.com/news/tutorials/what-is-crypto-winter-and-crypto-summer\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eCrypto winter\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e is a term used to describe a period of sustained decline in the prices and market value of cryptocurrencies. This decline is usually accompanied by a drop in trading volume, decreased investor interest, and a decline in the number of new projects being launched.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003cimg src=\"https://cms.choise.com/assets/8bcf30f7-4217-4341-aba3-01b24f42d7ad?width=1892\u0026amp;height=784\" alt=\"Total Crypto Market Cap\" /\u003e\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eSource: \u003c/span\u003e\u003ca href=\"https://www.coingecko.com/en/global-charts\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eCoingecko\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe term \u0026ldquo;winter\u0026rdquo; is used to describe the severity of the decline and the length of time it is expected to last. During a crypto winter, many investors may become disheartened and sell their investments, leading to further downward pressure on prices.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow is crypto winter different from a bear market?\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eA crypto winter and a bear market are similar in that they both refer to a downturn in the market characterized by declining prices and decreased trading activity. However, there are some differences between the two terms.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eA bear market is a broader term that can be applied to any market, not just the cryptocurrency market. It typically refers to a prolonged period of declining prices, often lasting several months or even years.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eA crypto winter, on the other hand, is specific to the cryptocurrency market and is usually characterized by a sharp decline in prices and trading activity after a period of hype and speculation.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eAnother difference is that bear market is usually caused by broader market factors such as economic downturns, \u003c/span\u003e\u003ca href=\"https://choise.com/news/dailyanalysis/fed-75-bp-rate-hike-november\"\u003e\u003cspan style=\"font-weight: 400;\"\u003einterest rates\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e, and changes in government policy, while crypto winter is usually driven by specific factors within the cryptocurrency market, such as regulatory crackdowns, hacking or fraud, and \u003c/span\u003e\u003ca href=\"https://choise.com/news/dailyanalysis/ftx-crisis-market-slump\"\u003e\u003cspan style=\"font-weight: 400;\"\u003emarket manipulation\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e.\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe advantages of crypto winters\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eWhile crypto winters can be challenging for investors and companies in the industry, they can also have some advantages.\u003c/span\u003e\u003c/p\u003e\n\u003col\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eCorrection of prices\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: Crypto winters often serve as a correction for the market, helping to bring prices back to more sustainable levels after a period of hype and speculation. This can be beneficial for long-term investors who are looking to buy in at more reasonable prices.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eWeeding out weak projects\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: Crypto winters can also help to separate strong projects from weaker ones. \u003c/span\u003e\u003ca href=\"https://choise.com/tokenomics\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eProjects with a solid business model\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e and a strong team may be better able to weather a downturn in the market, while weaker projects may struggle and eventually fail.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eIncreased focus on development and adoption\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: During a crypto winter, companies and projects may be more \u003c/span\u003e\u003ca href=\"https://choise.com/news/insights/33m-second-investment-round\"\u003e\u003cspan style=\"font-weight: 400;\"\u003efocused on developing\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e their products and services, as well as building partnerships and driving adoption. This can lead to increased innovation and progress in the industry.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eAttracts serious investors\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: Crypto winter can attract serious investors who are looking for long-term investments, rather than short-term gains. They tend to be more focused on fundamentals and less affected by hype and speculation, which can be beneficial for the overall stability and growth of the market.\u003c/span\u003e\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003ca href=\"https://nto.choise.com/mint?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-crypto_winter_banner1-|nto|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003e\u003cimg src=\"https://cms.choise.com/assets/af633655-bca9-4aba-be4c-cddc2d8989df?width=2406\u0026amp;height=1100\" alt=\"Chobies Nto by Choise.com 1\" /\u003e\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eConcerns about crypto winters\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eWhile crypto winters can have some advantages, they also come with a number of concerns.\u003c/span\u003e\u003c/p\u003e\n\u003col\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eLoss of value\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: The main concern for investors during a crypto winter is the potential loss of value in their investments. Prices can decline significantly, and many investors may choose to sell their holdings to cut their losses.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eBusiness failures\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: Crypto winters can also lead to business failures, as weaker projects may struggle to survive during a prolonged downturn in the market. This can result in job losses and a decrease in innovation and development in the industry.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eLoss of trust\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: Crypto winters can also lead to a loss of trust in the market, as investors may become skeptical about the potential for future growth. This can lead to decreased investment and slowed progress in the industry.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eRegulatory risks\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: The crypto market is still largely unregulated and during a crypto winter, governments may be more likely to impose stricter regulations on the industry. This can be a concern for companies and investors, as regulatory changes can have a significant impact on the market.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eInvestor sentiment\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: A crypto winter can have a negative impact on investor sentiment, as investors may become more cautious about investing in the market. This can lead to decreased trading activity and further price declines.\u003c/span\u003e\u003c/li\u003e\n\u003c/ol\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow can you predict a crypto winter?\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThere is no surefire way to predict a crypto winter. However, there are certain indicators that can be used to identify potential signs of a downturn in the market. These include:\u003c/span\u003e\u003c/p\u003e\n\u003col\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eDeclining prices\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: A prolonged decline in prices is often one of the first signs of a crypto winter. This can be measured by tracking the total market capitalization or the prices of individual cryptocurrencies.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eDecreased trading volume\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: A decrease in trading volume is another potential indicator of a crypto winter. This can be measured by tracking the number of transactions on various exchanges or the trading volume of individual cryptocurrencies.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eNegative investor sentiment\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: Negative sentiment among investors can also be an indicator of a crypto winter. This can be measured by tracking social media sentiment or surveying investors directly.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eRegulatory changes\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: Regulatory changes can also be a potential indicator of a crypto winter. This can include stricter regulations on the crypto market, or announcements of new regulations by governments.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eDecreased number of new projects and partnership\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003es: A decrease in the number of new projects and partnerships can also be an indicator of a crypto winter as it can indicate a lack of interest and investment in the industry.\u003c/span\u003e\u003c/li\u003e\n\u003c/ol\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow to withstand a crypto winter?\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003ca href=\"https://choise.com/news/tutorials/what-does-hodl-mean\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eTrading during a crypto winter\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e can be challenging, as the market is typically characterized by falling prices and increased volatility. However, there are still opportunities to be found for traders who are willing to take on more risk. Here are a few tips for trading during a crypto winter:\u003c/span\u003e\u003c/p\u003e\n\u003col\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eLook for undervalued assets\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: During a crypto winter, many assets may be undervalued due to market sentiment. Look for projects with strong fundamentals that are trading at a discount and consider buying in at a lower price.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eUse technical analysis\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: Technical analysis can help you to identify patterns and trends in the market that can indicate when prices may be about to change. Use technical indicators like moving averages, RSI, and MACD to identify potential buying and selling opportunities.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eTake advantage of increased volatility\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: Volatility can be a trader's friend, as it creates opportunities for buying low and selling high. During a crypto winter, volatility may be higher, so be prepared to take advantage of short-term price movements.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eHave a plan and stick to it\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: It's important to have a trading plan in place and to stick to it during a crypto winter. This can include setting stop-loss orders to limit potential losses and taking profits at predetermined levels.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eBe aware of the risks\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: Trading during a crypto winter can be risky, and it's important to be aware of the potential risks. Make sure you are comfortable with the level of risk you are taking on and be prepared to accept the potential losses that may come with it.\u003c/span\u003e\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003ca href=\"https://nto.choise.com/mint?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-crypto_winter_banner2-|nto|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003e\u003cimg src=\"https://cms.choise.com/assets/e39edbdb-0f41-434d-a8bc-52dfac7d1a1e?width=2880\u0026amp;height=240\" alt=\"Mint Is Live! 4\" /\u003e\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eConclusion. The importance of making weighted decisions in crypto\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eMaking weighted decisions is crucial in the cryptocurrency market, as it can greatly impact investment outcomes. The following factors should be considered: monitoring trends,\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-weight: 400;\"\u003eunderstanding the underlying technology behind a cryptocurrency, crypto regulation and competition. By bearing in mind these factors you are sure to make more informed decisions and increase their chances of success in crypto.\u003c/span\u003e\u003c/p\u003e","seo_title":"How to withstand crypto winter 2023","seo_description":"Discover crypto market cycles with Choise.com and learn how to navigate periods of sustained decline in the prices 2023.","seo_image":null,"old_image":null,"seo_keywords":["crypto winter","crypto winter 2023","how to withstand crypto winter","what is crypto winter","crypto winter tips","crypto winter predictions","crypto winter predictions 2023","crypto winter concerns","crypto winter advantages"],"short_content":"Discover crypto market cycles with Choise.com and learn how to navigate periods of sustained decline in the prices.","image":{"id":"1a932ca3-244a-4f7f-ae26-4369561e7a06","storage":"local","filename_disk":"1a932ca3-244a-4f7f-ae26-4369561e7a06.png","filename_download":"What is crypto winter.png","title":"What Is Crypto Winter","type":"image/png","folder":null,"uploaded_by":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","uploaded_on":"2023-01-30T11:47:06.519Z","modified_by":null,"modified_on":"2023-01-30T11:47:06.539Z","charset":null,"filesize":"1997070","width":3840,"height":2160,"duration":null,"embed":null,"description":null,"location":null,"tags":null,"metadata":{}},"category":{"title":"Tutorials","slug":"tutorials"}},{"id":30,"status":"published","sort":null,"user_created":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","date_created":"2023-01-25T09:53:00.000Z","user_updated":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","date_updated":"2023-01-30T11:52:45.731Z","title":"What is crypto winter and crypto summer. All you need to know","slug":"what-is-crypto-winter-and-crypto-summer","content":"\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eTable of contents\u003c/span\u003e\u003c/h2\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eIntroduction. Understanding the crypto summer and winter cycles.\u0026nbsp;\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eWhat is crypto winter?\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eWhen does crypto winter start?\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eAre innovators working in crypto winters?\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eTop 10 projects launched during crypto winter\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eWhat exactly is crypto summer?\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eIndicators of a crypto summer\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow to withstand crypto summer?\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eNotable crypto winters and summers in the past\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eTips for navigating crypto winters and summers\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eConclusion. The importance of a long-term perspective in crypto\u003c/span\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eIntroduction. Understanding the crypto summer and winter cycles.\u0026nbsp;\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe crypto market experiences cycles of bullish and bearish activity, often referred to as \"summer\" and \"winter\" respectively.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe \"summer\" phase is characterized by a strong upward trend in the prices of cryptocurrencies, with many investors buying in and driving prices even higher. This is often driven by hype and speculation, and can lead to a bubble-like market where prices become unsustainable.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe \"winter\" phase is characterized by a downturn in the market, with prices declining and many investors selling off their holdings. This can be caused by a variety of factors such as regulatory crackdowns, hacking or fraud, and market manipulation. The crypto winter usually lasts longer than crypto summer.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eWorth noting that these cycles are not predictable and can vary in duration and intensity.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003ca href=\"https://app.crypterium.com/sign-up?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-crypto_winter_summer_banner1-|exchange|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003e\u003cimg src=\"https://cms.choise.com/assets/9ad8a85f-5c9b-4603-8141-725bd01d0763?width=1600\u0026amp;height=290\" alt=\"Exchange 1600x290\" /\u003e\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eWhat is crypto winter?\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eCrypto winter refers to a period of time in the cryptocurrency market characterized by a downturn in prices and a decrease in trading activity. During this time, many investors may choose to sell their holdings, causing prices to decline further. Crypto winters can also be challenging times for investors and for companies in the industry.\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eWhen does crypto winter start?\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe start of a crypto winter is not an exact science and it can be difficult to pinpoint the start of a downturn in the market. However, it usually breaks out when the market starts to show signs of a prolonged decline in prices, trading volume, and \u003c/span\u003e\u003ca href=\"https://choise.com/news/market-prices/bitcoin-price-prediction-2023\"\u003e\u003cspan style=\"font-weight: 400;\"\u003einvestor sentiment\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eSome investors may use specific metrics such as the total market capitalization or the number of new projects launching as indicators of a potential crypto winter. Others may look at broader market indicators such as the stock market, interest rates, and regulatory changes that could impact the crypto market.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eBut it is important to note that there is no surefire way to predict when a crypto winter will start and it's also hard to predict how long it will last.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003ca href=\"https://choise.com/wallet/buy?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-crypto_winter_summer_banner2-|transfers|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003e\u003cimg src=\"https://cms.choise.com/assets/bb94e08d-1ad9-45f6-9881-51c1239faebf?width=1600\u0026amp;height=290\" alt=\"Crypterium Card 1600x290 1\" /\u003e\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eAre innovators working in crypto winters?\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eDuring a crypto winter, the level of innovation and development in the industry may decrease as companies and projects may struggle to survive the downturn in the market. Some companies may choose to reduce their expenses and focus on cost-cutting measures, while others may be forced to shut down operations. However, not all companies will be affected in the same way, and some may continue to innovate and develop new products and services even during a crypto winter.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eSome companies and projects may choose to focus on building partnerships and driving adoption, rather than developing new products and services. Additionally, some companies may be able to secure funding from venture capital firms and other investors, even during a crypto winter, which can allow them to continue to innovate and develop new products and services.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eAlso, there are always innovators who are working on new projects and technologies, even during a crypto winter. They may see the market downturn as an opportunity to develop their projects with less competition and at lower costs. They may also see it as an opportunity to build a more solid foundation for the long term.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003ca href=\"https://nto.choise.com/mint?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-crypto_winter_summer_banner3-|nto|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003e\u003cimg src=\"https://cms.choise.com/assets/e39edbdb-0f41-434d-a8bc-52dfac7d1a1e?width=2880\u0026amp;height=240\" alt=\"Mint Is Live! 4\" /\u003e\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eTop 10 projects launched during crypto winter\u003c/span\u003e\u003c/h2\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\n\u003ch3\u003e\u003cspan style=\"font-weight: 400;\"\u003eSolana\u003c/span\u003e\u003c/h3\u003e\n\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eSolana is a high-performance blockchain platform that aims to provide fast, low-cost transactions for decentralized applications (dApps) and decentralized finance (DeFi) applications. It was created by Solana Labs, a San Diego-based startup founded in 2017.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eSolana uses a unique consensus algorithm called \"Proof of Stake Time\" (PoST) which allows for high throughput and low-latency transactions. The platform can handle up to 65,000 transactions per second, which is significantly faster than most other blockchain platforms.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eSolana has a native cryptocurrency called SOL, which is used to pay for transaction fees and is also used as a governance token. The Solana community can vote on proposals to improve the network using their SOL tokens.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eSolana has been designed to be a highly scalable and energy-efficient blockchain, which makes it well-suited for a wide range of decentralized applications, including DeFi, gaming, and social media. The platform also has a large and active developer community that is building and deploying dApps on the Solana network.\u003c/span\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\n\u003ch3\u003e\u003cspan style=\"font-weight: 400;\"\u003ePolkadot\u003c/span\u003e\u003c/h3\u003e\n\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003ePolkadot is a decentralized multi-chain network that aims to connect different blockchain networks and enable interoperability between them. It is an open-source project created by the Web3 Foundation, a Swiss non-profit organization.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003ePolkadot uses a unique consensus mechanism called \"Nominated Proof of Stake\" (NPoS) which allows for a more decentralized governance model and enables the network to handle multiple parallel chains, known as \"parachains\", each with their own specific use cases.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003ePolkadot has a native cryptocurrency called DOT, which is used to pay for transaction fees and is also used as a governance token. The Polkadot community can vote on proposals to improve the network using their DOT tokens.\u003c/span\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\n\u003ch3\u003e\u003cspan style=\"font-weight: 400;\"\u003eNEAR Protocol\u003c/span\u003e\u003c/h3\u003e\n\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eNEAR protocol is a decentralized application (dApp) platform that aims to provide a fast, low-cost and secure infrastructure for building decentralized applications. It was created by the NEAR Foundation, a non-profit organization based in Switzerland.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eNEAR protocol uses a unique consensus algorithm called \"Nightshade\" which allows for high throughput and low-latency transactions, and it can handle up to 10,000 transactions per second.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe platform's native token is called NEAR, which is used to pay for transaction fees and is also used as a governance token. The NEAR community can vote on proposals to improve the network using their NEAR tokens.\u003c/span\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\n\u003ch3\u003e\u003cspan style=\"font-weight: 400;\"\u003eUniswap\u003c/span\u003e\u003c/h3\u003e\n\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eUniswap is a decentralized exchange (DEX) built on the Ethereum blockchain. It was created by Hayden Adams in 2018, Uniswap allows users to trade a wide range of ERC-20 tokens in a trustless and decentralized manner. It is one of the most popular decentralized trading platforms in the market.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eUniswap uses a unique liquidity pool mechanism, where users can add their tokens to a pool and trade with other users who have also added their tokens to the pool. This allows for a more decentralized and trustless trading experience, as there is no need for a central party to match buyers and sellers.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eUniswap also has a native token called UNI, which is used to pay for transaction fees on the platform, and also used as a governance token. The Uniswap community can vote on proposals to improve the network using their UNI tokens.\u003c/span\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\n\u003ch3\u003e\u003cspan style=\"font-weight: 400;\"\u003eRarible\u003c/span\u003e\u003c/h3\u003e\n\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eRarible is a decentralized marketplace for buying and selling unique digital collectibles, like digital art and in-game items, built on the Ethereum blockchain. It was launched in April of 2018 by Alex Salnikov and Matus Lestan. The marketplace allows creators to mint, sell, and collect one-of-a-kind digital items, and also lets buyers invest in unique digital assets.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eRarible uses the Ethereum blockchain to create unique digital items that are recorded on the blockchain as \u003c/span\u003e\u003ca href=\"https://choise.com/news/crypto-world/what-is-nft-and-how-does-it-work-2023\"\u003e\u003cspan style=\"font-weight: 400;\"\u003enon-fungible tokens (NFTs)\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e. These NFTs can be bought and sold on the Rarible marketplace, and can also be traded on other platforms that support NFTs.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe platform has a native token called RARI, which is used to pay for transaction fees on the platform, and also used as a governance token.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003ca href=\"https://nto.choise.com/mint?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-crypto_winter_summer_banner4-|nto|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003e\u003cimg src=\"https://cms.choise.com/assets/fe0aa567-ac17-4c6e-ac38-0f62f9990d64?width=2880\u0026amp;height=240\" alt=\"Chobies Nto by Choise.com 3\" /\u003e\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\n\u003ch3\u003e\u003cspan style=\"font-weight: 400;\"\u003e1inch network\u003c/span\u003e\u003c/h3\u003e\n\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e1inch is a decentralized exchange (DEX) aggregator that allows users to find the best prices for their trades across multiple DEXs on the Ethereum blockchain. The project was founded by Sergej Kunz and Anton Bukov in 2019, 1inch is one of the most popular decentralized trading platforms in the market.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e1inch allows users to trade a wide range of ERC-20 tokens with minimal slippage and low transaction fees by automatically splitting large trades across multiple DEXs and finding the best prices for the user.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe platform also has a native token called 1INCH, which is used to pay for transaction fees on the platform, and also used as a governance token.\u003c/span\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\n\u003ch3\u003e\u003cspan style=\"font-weight: 400;\"\u003eChainlink\u003c/span\u003e\u003c/h3\u003e\n\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eChainlink is a decentralized oracle network that allows smart contracts on the blockchain to securely access off-chain data feeds, web APIs, and traditional bank payments. It was created by a company called SmartContract, which was co-founded by Sergey Nazarov and Steve Ellis in 2014.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eChainlink provides a way for smart contracts to interact with real-world data by connecting them to a network of independent, security-reviewed oracles that retrieve the requested data and bring it on-chain for the smart contract to use. This allows for a wide range of decentralized applications, such as prediction markets, insurance, and supply chain management, to access real-world data and operate more effectively.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe Chainlink network has a native token called LINK, which is used to pay for the services provided by the oracles on the network and also used as a governance token.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\n\u003ch3\u003e\u003cspan style=\"font-weight: 400;\"\u003eTezos\u003c/span\u003e\u003c/h3\u003e\n\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eTezos is a decentralized blockchain platform that facilitates the creation and execution of smart contracts and decentralized applications. It was created by a husband-and-wife team, Arthur and Kathleen Breitman, in 2014 and the Tezos network launched in 2018.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eTezos is designed to be a self-amending blockchain, which means that it can upgrade itself through a process called formal verification. This allows for a more flexible and robust network, as it can easily adapt to changing requirements and incorporate new features.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe Tezos network has a native token called XTZ, which is used to pay for transaction fees on the network and also used as a governance token.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\n\u003ch3\u003e\u003cspan style=\"font-weight: 400;\"\u003eAxie Infinity\u003c/span\u003e\u003c/h3\u003e\n\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eAxie Infinity is a blockchain-based game built on the Ethereum blockchain, where players can breed, raise and battle fantasy creatures called Axies. The game was created by Sky Mavis, a Vietnam-based game development studio and launched in 2018.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eIn the game, players can breed, raise, and battle their Axies to earn rewards in the form of the game's native cryptocurrency called SLP. They can also buy, sell, and trade their Axies on a decentralized marketplace. The game also features a land system, where players can buy and develop virtual land that can also be used to farm resources and earn SLP rewards.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe game's economy is fully decentralized, and players have full ownership of their in-game assets. They can easily transfer them to other players or even trade them for other cryptocurrencies on secondary markets.\u003c/span\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\n\u003ch3\u003e\u003cspan style=\"font-weight: 400;\"\u003eMakerDAO\u003c/span\u003e\u003c/h3\u003e\n\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eMakerDAO (Decentralized Autonomous Organization) is a decentralized finance (DeFi) platform built on the Ethereum blockchain that allows users to create and manage a stablecoin called DAI. The MakerDAO project was created in 2015 by Rune Christensen and launched in 2017.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eDAI is a stablecoin that is pegged to the value of the U.S. dollar and is created through a process called collateralized debt position (CDP). This means that users can create DAI by collateralizing their Ethereum (ETH) in a CDP and then borrow DAI against that collateral. This allows users to borrow DAI without having to go through a traditional lending process and without having to trust a centralized party to hold their collateral.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe MakerDAO platform also includes a governance system, where holders of the MakerDAO's native token, MKR, can vote on proposals to improve the platform and manage the monetary policy of the DAI stablecoin.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eMakerDAO's decentralized lending and stablecoin creation capabilities have made it one of the most popular and widely used DeFi platforms in the market. It has attracted a number of high-profile partnerships and collaborations, including with major companies and organizations such as Gnosis and Kyber Network.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003ca href=\"https://choise.com/wallet/cashout?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-crypto_winter_summer_banner5-|transfers|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003e\u003cimg src=\"https://cms.choise.com/assets/10fc4bae-bc32-4b09-8a24-8e2e63f3eb88?width=1600\u0026amp;height=290\" alt=\"Cash out 1600x290\" /\u003e\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eWhat exactly is crypto summer?\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eCrypto summer is a term used to describe a period of increased activity and excitement in the cryptocurrency market, characterized by rising prices and increased trading volume. During a crypto summer, investors and traders may be more optimistic about the future of the market, leading to increased investment and buying activity.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eCrypto summer can also be described as a bull market, a term used to describe a prolonged period of rising prices in any market. In a bull market, investors are optimistic and confident, and this sentiment can drive prices higher. In the crypto market, the sentiment can be driven by various factors such as positive regulatory developments, new partnerships and collaborations, new product launches, and overall positive sentiment in the market.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eDuring a crypto summer, there is usually a lot of hype and speculation in the market, and many investors may be more willing to take on risk in the hopes of making large returns. This can lead to increased activity and volatility in the market, and many projects may see significant gains in value during this time.\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eIndicators of a crypto summer\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThere are several indicators that can be used to identify a potential crypto summer, including:\u003c/span\u003e\u003c/p\u003e\n\u003col\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eRising prices\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: A sustained increase in prices is often one of the first signs of a crypto summer. This can be measured by tracking the total market capitalization or the prices of individual cryptocurrencies.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eIncreased trading volume\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: An increase in trading volume is another potential indicator of a crypto summer. This can be measured by tracking the number of transactions on various exchanges or the trading volume of individual cryptocurrencies.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003ePositive investor sentiment\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: Positive sentiment among investors can also be an indicator of a crypto summer. This can be measured by tracking social media sentiment or surveying investors directly.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eRegulatory changes\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: Regulatory changes can also be a potential indicator of a crypto summer. This can include more favorable regulations on the crypto market, or announcements of new regulations by governments.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eIncreased number of new projects and partnerships\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: An increase in the number of new projects and partnerships can also be an indicator of a crypto summer as it can indicate a renewed interest and investment in the industry.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eMainstream adoption\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: An increase in the mainstream adoption of cryptocurrency can also indicate a crypto summer as it can indicate that more people are willing to invest in the crypto market.\u003c/span\u003e\u003c/li\u003e\n\u003c/ol\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow to withstand crypto summer?\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eHere are a few strategies that can help investors withstand a crypto summer:\u003c/span\u003e\u003c/p\u003e\n\u003col\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eDiversify your portfolio\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: Diversifying your portfolio can help spread the risk across different assets and reduce the impact of any single asset's decline in value. This can include investing in a mix of different cryptocurrencies, as well as other assets such as stocks or bonds.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eHave a long-term perspective\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: It's important to remember that the crypto market can be highly volatile, and short-term price movements should not be the only factor considered when making investment decisions. Having a long-term perspective can help you to stay focused on your goals and avoid making impulsive decisions based on short-term market fluctuations.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eAvoid FOMO (fear of missing out) and FUD (fear, uncertainty, and doubt)\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: The crypto market is often driven by \u003c/span\u003e\u003ca href=\"https://choise.com/news/tutorials/crypto-slang-every-beginner-needs-to-know\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eFOMO and FUD\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e, and it's important to avoid these emotions when making investment decisions. Instead, focus on fundamentals and do your own research before making any investment decisions.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eDo not invest more than you can afford to lose\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: It's important to remember that the crypto market is highly speculative, and it's important to only invest what you can afford to lose. This can help to prevent significant financial loss in case of a market downturn.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eHave a stop-loss strategy\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: It's important to have a stop-loss strategy in place to limit potential losses. A stop-loss is an order that automatically sells a security when it reaches a certain price, and it can help you to avoid significant financial losses.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eKeep informed and stay up-to-date with the latest developments\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: The crypto market is highly dynamic, and it's important to stay informed about the latest developments in the industry. This can include tracking the prices of different cryptocurrencies, as well as keeping an eye on regulatory developments, new partnerships and collaborations, and new product launches.\u003c/span\u003e\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003ca href=\"https://choise.com/dual-currency-interest-account?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-crypto_winter_summer_banner6-|deposit|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003e\u003cimg src=\"https://cms.choise.com/assets/893b805b-edb7-48e8-af3e-acfa974fb818?width=1600\u0026amp;height=290\" alt=\"Dual Currency 1600x290\" /\u003e\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eNotable crypto winters and summers in the past\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThere have been several notable crypto winters and summers in the past. Here are a few examples:\u003c/span\u003e\u003c/p\u003e\n\u003col\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe first crypto winter occurred in 2011-2013, after the first major cryptocurrency, Bitcoin, reached its all-time high of $1,100 in November 2013, the market went through a bear market, with prices falling significantly.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe crypto winter of 2018-2019, was caused by a combination of factors, including regulatory concerns, market manipulation, and security breaches at several major exchanges. The overall crypto market capitalization dropped from an all-time high of around $800 billion in January 2018 to around $100 billion in December 2018.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eCrypto summer of 2017, when the overall crypto market capitalization increased from around $18 billion in January 2017 to around $800 billion in December 2017. This was driven by the rapid increase in the price of Bitcoin, which rose from around $1,000 in January 2017 to around $20,000 in December 2017.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe crypto summer of 2021, where the overall crypto market capitalization increased from around $1 trillion in January 2021 to around $2 trillion in April 2021. This was driven by the rising interest of institutional investors and the mainstream adoption of cryptocurrency, as well as positive regulatory developments and new partnerships and collaborations in the industry.\u003c/span\u003e\u003c/li\u003e\n\u003c/ol\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eTips for navigating crypto winters and summers\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eHere are a few tips for navigating crypto winters and summers:\u003c/span\u003e\u003c/p\u003e\n\u003col\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eDo your own research\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: It's important to do your own research and not rely solely on hype or speculation when making investment decisions. This can include studying the fundamentals of different projects, as well as tracking regulatory developments, new partnerships and collaborations, and new product launches in the industry.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cstrong\u003eBe patient\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e: Crypto markets can be highly volatile and prices can fluctuate dramatically. It's important to be patient and not to react to short-term market fluctuations.\u003c/span\u003e\u003c/li\u003e\n\u003c/ol\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eConclusion. The importance of a long-term perspective in crypto\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eA long-term perspective is important in the crypto market for a number of reasons.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe first one is volatility. The crypto market is known for its volatility, with prices fluctuating dramatically in short periods of time. A long-term perspective can help investors to avoid making impulsive decisions based on short-term market fluctuations, and instead focus on the long-term potential of different projects.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eAlso, the crypto market goes through cycles of growth and decline, known as crypto summers and crypto winters. A long-term perspective can help investors to weather market downturns and take advantage of market upturns.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eBesides, cryptocurrency and blockchain technology adoption takes time, and it's important to understand that it's a long-term process. A long-term perspective can help investors to see the potential for growth in the market as more and more individuals and institutions adopt cryptocurrency and blockchain technology.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003ca href=\"https://choise.com/earn?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-crypto_winter_summer_banner7-|web30_ia|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003e\u003cimg src=\"https://cms.choise.com/assets/1b75030c-02b4-43e3-945d-f72517ad48a0?width=1600\u0026amp;height=290\" alt=\"Web3.0 Interest Accounts 1600x290\" /\u003e\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e","seo_title":"What is crypto winter and crypto summer. All you need to know 2023","seo_description":"A guide on how to navigate the ups and downs of the cryptocurrency market 2023 and make informed investment decisions.","seo_image":null,"old_image":null,"seo_keywords":["crypto summer","crypro winter","cryptocurrency","bear market","crypto winter 2023","how to withstand crypto winter","what is crypto winter","what is crypto winter 2023","tips for navigating crypto winters","navigate crypto winter","what is crypto summer","solana","polkadot","near protocol","uniswap","rarible","1inch network","chainlink","Axie Infinity","tezos","makerdao"],"short_content":"A guide on how to navigate the ups and downs of the cryptocurrency market and make informed investment decisions.","image":{"id":"e9f57d23-e41d-4cfe-8f29-921b032a7b51","storage":"local","filename_disk":"e9f57d23-e41d-4cfe-8f29-921b032a7b51.png","filename_download":"What is crypto winter and crypto summer.png","title":"What Is Crypto Winter and Crypto Summer","type":"image/png","folder":null,"uploaded_by":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","uploaded_on":"2023-01-30T09:53:03.980Z","modified_by":null,"modified_on":"2023-01-30T09:53:04.023Z","charset":null,"filesize":"5709718","width":3840,"height":2160,"duration":null,"embed":null,"description":null,"location":null,"tags":null,"metadata":{}},"category":{"title":"Tutorials","slug":"tutorials"}},{"id":25,"status":"published","sort":null,"user_created":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","date_created":"2023-01-18T10:17:46.147Z","user_updated":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","date_updated":"2023-01-18T10:27:29.254Z","title":"OpenSea and Chobies. How to protect yourself from scammers","slug":"opensea-chobies-protect-yourself-from-scammers","content":"\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eTable of contents\u003c/span\u003e\u003c/h2\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eWhat is OpenSea?\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow does the secondary market OpenSea work?\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow to buy an NFT on OpenSea?\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow to protect from scammers when buying Chobies on OpenSea?\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow to verify the Choby authenticity?\u0026nbsp;\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eWhat should I do if I bought scam Choby?\u003c/span\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eWhat is OpenSea?\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eOpenSea is an online marketplace for buying, selling, and discovering unique digital items, such as non-fungible tokens (\u003c/span\u003e\u003ca href=\"https://choise.com/news/crypto-world/what-is-nft-and-how-does-it-work-2023\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eNFTs\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e) on the Ethereum blockchain.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://nto.choise.com/mint?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-nto_opensea_scam_banner1-|nto|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003e\u003cimg src=\"https://cms.choise.com/assets/fe0aa567-ac17-4c6e-ac38-0f62f9990d64?width=2880\u0026amp;height=240\" alt=\"Chobies Nto by Choise.com 3\" /\u003e\u003c/a\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow does OpenSea work?\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe \u003c/span\u003e\u003ca href=\"https://choise.com/news/crypto-world/nto-and-its-secondary-market\"\u003e\u003cspan style=\"font-weight: 400;\"\u003esecondary market\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e works as follows. When a user wants to sell an NFT, they can list it for sale on OpenSea. Potential buyers can then browse the marketplace and make offers to purchase the NFT. Once a buyer and seller agree on a price, the buyer can use Ethereum or other cryptocurrencies to purchase the NFT.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eOpenSea acts as a decentralized marketplace, meaning that it does not hold any of the NFTs or manage the transaction process. Instead, it uses smart contracts on the Ethereum blockchain to facilitate the buying and selling process. This means that there is no central authority controlling the marketplace, and all transactions are recorded on the Ethereum blockchain.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eIn addition to buying and selling, OpenSea also features a built-in wallet to manage and store NFTs, as well as a marketplace explorer that allows users to discover new and unique NFTs.\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow to buy an NFT on OpenSea?\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eTo buy an NFT on OpenSea, you will need to follow these steps:\u003c/span\u003e\u003c/p\u003e\n\u003col\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eCreate an account on OpenSea: You can create an account on OpenSea by visiting the website and clicking on \"Sign Up.\" You will need to provide an email address and create a password to complete the registration process.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eConnect a wallet: In order to purchase an NFT on OpenSea, you will need to connect a digital wallet that supports Ethereum. OpenSea supports several popular wallets such as MetaMask, Coinbase Wallet, and WalletConnect.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eBrowse the marketplace: Once you have an account and a connected wallet, you can browse the OpenSea marketplace to find the NFT you want to buy. You can search for specific items or browse through different categories to discover new NFTs.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eMake an offer: Once you find an NFT you want to buy, you can make an offer to purchase it. You will need to specify the amount of Ethereum you are willing to pay, and the offer will be sent to the seller for approval.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eComplete the purchase: If the seller accepts your offer, you will need to confirm the purchase by sending the agreed upon amount of Ethereum to the smart contract address provided by OpenSea. Once the transaction is confirmed on the Ethereum blockchain, the NFT will be transferred to your digital wallet.\u003c/span\u003e\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eIt is important to note that the price of NFTs on OpenSea can vary greatly depending on the rarity and uniqueness of the item. Some NFTs can be \u003c/span\u003e\u003ca href=\"https://choise.com/news/cho-token/4-things-that-give-nto-value\"\u003e\u003cspan style=\"font-weight: 400;\"\u003equite expensive\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e and it's important to do your own research on the item you want to buy and the artist behind it.\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow to protect from scammers when buying Chobies on OpenSea?\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eWhen buying \u003c/span\u003e\u003ca href=\"https://nto.choise.com/choby?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all%7C-nto_opensea_scam_text-%7Cnto%7Cperf_002\u0026amp;utm_content=article\u0026amp;utm_term=%7C\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eChobies\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e on OpenSea, it is important to take steps to protect yourself from scammers. Here are some tips to help you stay safe:\u003c/span\u003e\u003c/p\u003e\n\u003col\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eResearch the seller: Before making an offer on an NFT, research the seller's reputation and history. Look for reviews and feedback from other buyers, and check the seller's profile on OpenSea to see how long they have been active on the platform.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eUse a reputable wallet: When making a purchase, it's important to use a reputable wallet such as MetaMask, Coinbase Wallet, and WalletConnect to ensure the safety of your cryptocurrency.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eDon't rush: Take your time to research and consider the purchase before making a decision. Scammers often try to rush buyers into making a quick decision.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eCheck the blockchain: You can check the blockchain to ensure that the Choby NFT you are buying is actually unique and not a copy of another item.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eBe aware of the price: Be aware of the price of similar items and be wary of items that are sold at a much lower price than the market value.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eDon't share your private key: Never share your private key with anyone, this is the key to access your digital wallet and if someone has it they can take control of your assets.\u003c/span\u003e\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eBy following these tips, you can reduce the risk of falling victim to a scam when buying Chobies on OpenSea.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe general link to the Chobies collection on OpenSea is \u003ca class=\"c-link\" tabindex=\"-1\" href=\"https://opensea.io/collection/chobies\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https://opensea.io/collection/chobies\" data-sk=\"tooltip_parent\" data-remove-tab-index=\"true\"\u003ehttps://opensea.io/collection/chobies\u003c/a\u003e.\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow to verify the Choby authenticity? \u003c/span\u003e\u003c/h2\u003e\n\u003col\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eCheck the metadata: Choby NFTs contain metadata that can provide information about the item, such as the creator, the creation date, and the authenticity of the item. Before making an offer, check the metadata to ensure that the Choby is authentic and not a copy.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eVerify the smart contract address: you can verify the smart contract address of the Choby by checking it on the blockchain. Our smart contract is available on Etherscan: \u003c/span\u003e\u003ca href=\"https://etherscan.io/address/0x8a0b3e62173b1803b4c7517d4f6a08e5d5e40da5\"\u003e\u003cspan style=\"font-weight: 400;\"\u003ehttps://etherscan.io/address/0\u0026times;8a0b3e62173b1803b4c7517d4f6a08e5d5e40da5\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eCheck the uniqueness of the token: you can check the uniqueness of the token by using a blockchain explorer, if the token ID is the same as another token on the blockchain it's a copy and it's not unique, and therefore it's not an NFT.\u003c/span\u003e\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003e\u003ca href=\"https://nto.choise.com/?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-nto_opensea_scam_banner2-|nto|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003e\u003cimg src=\"https://cms.choise.com/assets/62deb60c-3763-481a-a67a-9cc5eda61b9b?width=1440\u0026amp;height=260\" alt=\"Frame 10\" /\u003e\u003c/a\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch2\u003e\u003cspan style=\"font-weight: 400;\"\u003eWhat should I do if I bought scam Choby?\u003c/span\u003e\u003c/h2\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eIf you suspect that you have bought a scam Choby on OpenSea, there are a few steps you can take:\u003c/span\u003e\u003c/p\u003e\n\u003col\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eContact the seller: If you suspect that the Choby you bought is a scam, the first step is to contact the seller. Explain your concerns and ask for a refund or a replacement NFT. If the seller is legitimate, they should be willing to work with you to resolve the issue.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eReport the scam to OpenSea: If the seller is unresponsive or unwilling to help, you should report the scam to OpenSea. OpenSea has a team that investigates and removes scams from the platform. Providing them with details such as the transaction hash, the seller's name and any other relevant information can help them to investigate and take action.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eContact Ethereum blockchain explorer: you can use a blockchain explorer to check the transaction details and see if the Choby NFT is unique, if it's a copy of another NFT that was already sold, it's a scam and you can report it to the explorer.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eSeek legal advice: If the seller refuses to cooperate and the platform can't do anything about it, you may want to seek legal advice. However, it's important to note that the laws and regulations around NFTs are still evolving and it may be difficult to take legal action.\u003c/span\u003e\u003c/li\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eLearn from experience: Unfortunately, scamming is an issue in any online marketplace and it's important to learn from the experience, in order to avoid falling victim to scams in the future.\u003c/span\u003e\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eIt's also important to note that \u003c/span\u003e\u003ca href=\"https://nto.choise.com/?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all%7C-nto_opensea_scam_text-%7Cnto%7Cperf_002\u0026amp;utm_content=article\u0026amp;utm_term=%7C\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eChobies are unique\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e and can't be replaced, so you should be extra careful when buying one on the secondary market.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eIf you want to avoid potential scams, \u003c/span\u003e\u003ca href=\"https://nto.choise.com/mint?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all%7C-nto_opensea_scam_text-%7Cnto%7Cperf_002\u0026amp;utm_content=article\u0026amp;utm_term=%7C\"\u003e\u003cspan style=\"font-weight: 400;\"\u003emint your own Choby\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e straight from \u003c/span\u003e\u003ca href=\"https://nto.choise.com/?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all%7C-nto_opensea_scam_text-%7Cnto%7Cperf_002\u0026amp;utm_content=article\u0026amp;utm_term=%7C\"\u003e\u003cspan style=\"font-weight: 400;\"\u003ento.choise.com\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://nto.choise.com/mint?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-nto_opensea_scam_banner3-|nto|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003e\u003cimg src=\"https://cms.choise.com/assets/78e915fc-2936-4be0-9d11-93a230672125?width=2730\u0026amp;height=1536\" alt=\"Mint Your Choby Now\" /\u003e\u003c/a\u003e\u003c/p\u003e","seo_title":null,"seo_description":null,"seo_image":null,"old_image":null,"seo_keywords":["OpenSea","Buy NFT","How to buy nft on opensea","NTO","NFT Token Offering","Choby","Chobies","Scam","Scammers","How to protect from scammers"],"short_content":"How does the secondary market OpenSea work? What should I do if I bought scam Choby? All questions answered.","image":{"id":"6cf8dae5-0814-49e5-bb84-baea23039d2f","storage":"local","filename_disk":"6cf8dae5-0814-49e5-bb84-baea23039d2f.png","filename_download":"OpenSea and Chobies. How to protect yourself from scammers.png","title":"Open Sea and Chobies. How to Protect Yourself From Scammers","type":"image/png","folder":null,"uploaded_by":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","uploaded_on":"2023-01-18T09:59:04.767Z","modified_by":null,"modified_on":"2023-01-18T09:59:04.817Z","charset":null,"filesize":"8489038","width":3840,"height":2160,"duration":null,"embed":null,"description":null,"location":null,"tags":null,"metadata":{}},"category":{"title":"Tutorials","slug":"tutorials"}},{"id":24,"status":"published","sort":null,"user_created":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","date_created":"2023-01-17T11:07:11.261Z","user_updated":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","date_updated":"2023-01-17T11:24:38.609Z","title":"How can I transfer my Choby","slug":"how-can-i-transfer-my-choby","content":"\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eOn Chinese New Year's eve Choise.com introduces a new feature for Chobies. Now you can transfer your Choby to a friend directly from your personal account on the website \u003ca href=\"https://nto.choise.com/?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all%7C-nto_how_to_transfer_choby_article-%7Cnto%7Cperf_002\u0026amp;utm_content=article\u0026amp;utm_term=%7C\" target=\"_blank\" rel=\"noopener\"\u003ento.choise.com\u003c/a\u003e.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eHow to do it? Follow this \u003cstrong\u003estep-by-step guide\u003c/strong\u003e:\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eStep #1\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e. Go to \u003c/span\u003e\u003ca href=\"https://nto.choise.com/profile?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all%7C-nto_how_to_transfer_choby_article-%7Cnto%7Cperf_002\u0026amp;utm_content=article\u0026amp;utm_term=%7C\"\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u0026ldquo;My profile\u0026rdquo;\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e section on \u003c/span\u003e\u003ca href=\"https://nto.choise.com/?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all%7C-nto_how_to_transfer_choby_article-%7Cnto%7Cperf_002\u0026amp;utm_content=article\u0026amp;utm_term=%7C\"\u003e\u003cspan style=\"font-weight: 400;\"\u003ento.choise.com\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://cms.choise.com/assets/4eab5c2b-86d0-44e0-9797-f7995a96ded1?width=1440\u0026amp;height=900\" alt=\"Desktop 104\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eStep #2\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e. Select the Choby you would like to transfer by clicking on its card.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://cms.choise.com/assets/b3e35fa3-a982-4b9b-8b9e-a1e432be27d2?width=1440\u0026amp;height=1525\" alt=\"Desktop 110\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eStep #3\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e. Find the \u0026ldquo;Transfer\u0026rdquo; button under the image of your Choby and click on it.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://cms.choise.com/assets/c819f500-be84-4955-975c-e0b2db798915?width=1440\u0026amp;height=900\" alt=\"Desktop 150\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eStep #4\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e. Enter the ERC-20 wallet address of the recipient and click on \u0026ldquo;Transfer\u0026rdquo; once more.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://cms.choise.com/assets/1c6993bf-2c16-43e5-891e-847f5fe9493c?width=1440\u0026amp;height=900\" alt=\"Desktop 151\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eStep #5\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e. Follow the MetaMask instructions.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eRead the warning about the permission to access your USDT, check the blockchain transaction fee and click on the \u0026ldquo;Confirm\u0026rdquo; button.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://cms.choise.com/assets/23e3d732-bef8-4290-a4ab-b16f22d166d8?width=1440\u0026amp;height=900\" alt=\"Desktop 153\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHOngratulations! \u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003eYou have successfully transferred your Choby to the recipient wallet.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003cimg src=\"https://cms.choise.com/assets/3597afb7-19b9-4bdd-a3c9-07598d3bf1be?width=1440\u0026amp;height=900\" alt=\"Desktop 152\" /\u003e\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eYou may transfer the remaining Chobies likewise or \u003c/span\u003e\u003ca href=\"https://nto.choise.com/mint?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all%7C-nto_how_to_transfer_choby_article-%7Cnto%7Cperf_002\u0026amp;utm_content=article\u0026amp;utm_term=%7C\"\u003e\u003cspan style=\"font-weight: 400;\"\u003emint new ones\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e \u0026ndash; it\u0026rsquo;s your choise.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eMake your friend\u0026rsquo;s day or holiday with a \u003c/span\u003e\u003ca href=\"https://nto.choise.com/?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all%7C-nto_how_to_transfer_choby_article-%7Cnto%7Cperf_002\u0026amp;utm_content=article\u0026amp;utm_term=%7C\"\u003e\u003cspan style=\"font-weight: 400;\"\u003evaluable gift\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://nto.choise.com/?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-nto_how_to_transfer_choby_banner-|nto|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003e\u003cimg src=\"https://cms.choise.com/assets/5ad73594-5cba-4f47-a57d-e654f239e8d9?width=5760\u0026amp;height=2364\" alt=\"The First Nto Ever 16x9\" /\u003e\u003c/a\u003e\u003c/p\u003e","seo_title":null,"seo_description":null,"seo_image":null,"old_image":null,"seo_keywords":["Choby","Chobies","How to transfer Chobies","NTO","NFT","NFT Token Offering"],"short_content":"A step-by-step guide to transferring your Choby NFT to the other ERC-20 wallet.","image":{"id":"662f9d58-f21f-4e84-a80f-c3457caf38bc","storage":"local","filename_disk":"662f9d58-f21f-4e84-a80f-c3457caf38bc.png","filename_download":"How can I transfer my Choby 1.png","title":"How Can I Transfer My Choby 1","type":"image/png","folder":null,"uploaded_by":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","uploaded_on":"2023-01-17T11:03:03.246Z","modified_by":null,"modified_on":"2023-01-17T11:03:03.304Z","charset":null,"filesize":"5211740","width":3840,"height":2160,"duration":null,"embed":null,"description":null,"location":null,"tags":null,"metadata":{}},"category":{"title":"Tutorials","slug":"tutorials"}},{"id":20,"status":"published","sort":null,"user_created":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","date_created":"2023-01-13T06:51:00.000Z","user_updated":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","date_updated":"2023-01-19T11:25:10.461Z","title":"How to check that the money prize is still inside the Choby you buy on the secondary market?","slug":"how-to-check-money-prize-inside-choby","content":"\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003ePlanning to \u003ca href=\"https://nto.choise.com/?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-nto_article_howtocheckmoney_text-|nto|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003ebuy a Choby\u003c/a\u003e on the secondary market and willing to check if the money prize is still inside it? P\u003c/span\u003e\u003cspan style=\"font-weight: 400;\"\u003elease, follow \u003cstrong\u003e3 simple steps\u003c/strong\u003e:\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003cstrong\u003eStep #1\u003c/strong\u003e Go to the prizes contract \u003c/span\u003e\u003ca href=\"https://etherscan.io/address/0xb6c857CC73bF0c5E38b4255775F28b7a75a4507A\"\u003e\u003cspan style=\"font-weight: 400;\"\u003ehttps://etherscan.io/address/0xb6c857CC73bF0c5E38b4255775F28b7a75a4507A\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003cimg src=\"https://cms.choise.com/assets/7b8df569-5f32-4680-be99-01c8fb8df7ae?width=1436\u0026amp;height=1229\" alt=\"Screenshot How to 1\" /\u003e\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003cstrong\u003eStep #2\u003c/strong\u003e Click on the \u0026ldquo;Contract\u0026rdquo; tab and select the \u0026ldquo;Read Contract\u0026rdquo; option.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003cimg src=\"https://cms.choise.com/assets/16838f8c-c161-4c9f-a52f-ed16560c8dc0?width=1842\u0026amp;height=1412\" alt=\"Screenshot How to 3\" /\u003e\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eStep #3 \u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003eFind the \u0026ldquo;getClaimedPrize\u0026rdquo; function and enter the token id you want to check in the field. You may find the token id by checking the CHOBY # in the \u003c/span\u003e\u003ca href=\"https://nto.choise.com/choby?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-nto_article_howtocheckmoney_text-|nto|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_self\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eChobies gallery\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"font-weight: 400;\"\u003e or Token ID in the description section of the NFT on Opensea.\u003c/span\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003cbr /\u003e\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eIf \u0026ldquo;0\u0026rdquo; arrives in response, nothing has been claimed from the Choby. If any other digit occurs, the money prize has been taken away.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003cimg src=\"https://cms.choise.com/assets/506c0491-f70d-41db-a7cd-5a2d2e7b7e7f?width=1834\u0026amp;height=1542\" alt=\"Screenshot How to 2\" /\u003e\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eMind that by following the steps above you receive information about the money prize only at the exact moment of verification. The situation may change in just a few seconds, so be careful.\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eParticipate in \u003ca href=\"https://nto.choise.com/?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-nto_article_howtocheckmoney_text-|nto|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003eChoise.com NTO\u003c/a\u003e. \u003ca href=\"https://nto.choise.com/mint?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-nto_article_howtocheckmoney_text-|nto|perf_002\u0026amp;utm_content=article\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003eMint your own Choby\u003c/a\u003e or \u003ca href=\"https://choise.com/news/crypto-world/nto-and-its-secondary-market\" target=\"_blank\" rel=\"noopener\"\u003ebuy one on the secondary market\u003c/a\u003e. It's your choise.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003ca href=\"https://nto.choise.com/?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-nto_article_howtocheckmoney_banner-|nto|perf_002\u0026amp;utm_content=banner\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003e\u003cimg src=\"https://cms.choise.com/assets/5ad73594-5cba-4f47-a57d-e654f239e8d9?width=5760\u0026amp;height=2364\" alt=\"The First Nto Ever 16x9\" /\u003e\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e","seo_title":null,"seo_description":null,"seo_image":null,"old_image":null,"seo_keywords":null,"short_content":"Planning to buy a Choby on the secondary market and willing to check if the money prize is still inside it? Follow the simple steps described here.","image":{"id":"2dd75963-2f35-47a3-b8d0-a01ec783dd0f","storage":"local","filename_disk":"2dd75963-2f35-47a3-b8d0-a01ec783dd0f.png","filename_download":"How to check the money prize inside the Choby.png","title":"How to Check the Money Prize Inside the Choby","type":"image/png","folder":null,"uploaded_by":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","uploaded_on":"2023-01-14T06:51:04.424Z","modified_by":null,"modified_on":"2023-01-14T06:51:04.466Z","charset":null,"filesize":"3809841","width":3840,"height":2160,"duration":null,"embed":null,"description":null,"location":null,"tags":null,"metadata":{}},"category":{"title":"Tutorials","slug":"tutorials"}},{"id":6,"status":"published","sort":null,"user_created":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","date_created":"2022-12-22T11:38:55.000Z","user_updated":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","date_updated":"2023-01-02T11:54:16.453Z","title":"How to mint Choby NFT","slug":"how-to-mint-choby-nft","content":"\u003cp\u003e\u003cem\u003e\u003cspan style=\"font-weight: 400;\"\u003eThis is a Step-by-Step guide on how to mint the unique NFTs with cute unrepeatable images of Chobies backed by tokens inside. Enjoy!\u003c/span\u003e\u003c/em\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eChobies is a \u003ca href=\"https://nto.choise.com/?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-nto_articles-|nto|perf_002\u0026amp;utm_content=\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003eunique NTO collection\u003c/a\u003e powered by Choise.com. The collection comprises exclusive NFTs with cute unrepeatable images of Chobies backed by tokens inside. The NTO is a great opportunity for the community to get an exclusive NFT and popular tokens 3 or even 6 times cheaper than market price in one mint, accompanied by additional bonuses and perks.\u003c/span\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003cp\u003e\u003cstrong\u003eThe \u003c/strong\u003e\u003ca href=\"https://www.youtube.com/watch?v=DytIuXbne6M\" target=\"_self\"\u003e\u003cstrong\u003evideo instruction\u003c/strong\u003e\u003c/a\u003e\u003cstrong\u003e on how to mint Choby NFT if it is if it's more familiar to you:\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003e\u003ciframe title=\"YouTube video player\" src=\"https://www.youtube.com/embed/DytIuXbne6M\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"\u003e\u003c/iframe\u003e\u003c/p\u003e\n\u003chr /\u003e\n\u003ch3\u003e\u003cspan style=\"font-weight: 400;\"\u003eTo mint your own Choby, please:\u003c/span\u003e\u003c/h3\u003e\n\u003cp\u003e\u003cstrong\u003eStep #1\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e. Go to the website \u003c/span\u003e\u003ca href=\"https://nto.choise.com/?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all%7C-nto_articles-%7Cnto%7Cperf_002\u0026amp;utm_content=\u0026amp;utm_term=%7C\" target=\"_self\"\u003e\u003cspan style=\"font-weight: 400;\"\u003ehttps://nto.choise.com\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://cms.choise.com/assets/17041ea1-4b92-4f6a-91ca-583e0a92240f?width=1094\u0026amp;height=760\" alt=\"Cover\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eStep #2\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e. Check the current Stage of the NTO, the price and tap the yellow \u0026ldquo;Mint now\u0026rdquo; button.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://cms.choise.com/assets/6952997d-6ad5-499b-b1de-dadb602d3885?width=1920\u0026amp;height=1076\" alt=\"Mint Now\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eStep #3\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e. In case your MetaMask wallet is not connected, you will have to connect it first by tapping the \u0026ldquo;Connect wallet\u0026rdquo; button in the upper right corner.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://cms.choise.com/assets/3119d0d6-213c-4720-90a9-077c71445e9c?width=1920\u0026amp;height=1080\" alt=\"Connect Wallet\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eFollow the instructions to connect your MetaMask wallet:\u003c/span\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eSelect the account to use on this site in the ticker box and tap the \u0026ldquo;Next\u0026rdquo; button;\u003c/span\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp style=\"padding-left: 40px;\"\u003e\u003cimg src=\"https://cms.choise.com/assets/fb4a187f-9b99-45e6-ad5a-b60055a33edd?width=1920\u0026amp;height=1080\" alt=\"Connect Wallet 1\" /\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eCheck the information and tap the \u0026ldquo;Connect\u0026rdquo; button;\u003c/span\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp style=\"padding-left: 40px;\"\u003e\u003cimg src=\"https://cms.choise.com/assets/2d80ebbd-0526-4a07-9dd0-d1e01df9b8d5?width=1920\u0026amp;height=1080\" alt=\"Connect Wallet 2\" /\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003cspan style=\"font-weight: 400;\"\u003eWait till the connection is set up\u003c/span\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp style=\"padding-left: 40px;\"\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003cimg src=\"https://cms.choise.com/assets/b44e7fcc-e0d1-49ce-9768-bf8b8bd069df?width=1920\u0026amp;height=1080\" alt=\"Connect Wallet 3\" /\u003e\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eStep #4\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e. As soon as your wallet is connected, you may mint your Choby. Select the number of Chobies you want to mint (1 to 20), check mint price and gas details and tap on the \u0026ldquo;Mint\u0026rdquo; button.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003e\u003cimg src=\"https://cms.choise.com/assets/4b760438-c6ca-4de5-b579-cf52211742b1?width=1920\u0026amp;height=1080\" alt=\"Mint 2\" /\u003e\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eStep #5\u003c/strong\u003e\u003cspan style=\"font-weight: 400;\"\u003e. Check your wallet information and the details in the pop-up window and tap the \u0026ldquo;Confirm\u0026rdquo; button.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://cms.choise.com/assets/877f5a9f-cd23-4188-8df8-7c64bcb246b3?width=1920\u0026amp;height=1080\" alt=\"Mint 3\" /\u003e\u003c/p\u003e\n\u003ch3\u003e\u003cspan style=\"font-weight: 400;\"\u003eCongratulations! You have successfully minted 1 Choby NFT.\u0026nbsp;\u003c/span\u003e\u003c/h3\u003e\n\u003cp\u003e\u003cimg src=\"https://cms.choise.com/assets/02587607-12cc-4d31-a813-67d523a0e9b2?width=1920\u0026amp;height=1080\" alt=\"Success\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eYou may mint one more Choby or check the information about the already minted Choby in \u003ca href=\"https://nto.choise.com/?utm_source=article\u0026amp;utm_medium=blog\u0026amp;utm_campaign=all|-nto_articles-|nto|perf_002\u0026amp;utm_content=\u0026amp;utm_term=|\" target=\"_blank\" rel=\"noopener\"\u003eyour profile\u003c/a\u003e. Your profile contains all information about your Choby (Chobies) including its picture, minting date, traits, perks, lockup and vesting periods.\u003c/span\u003e\u003c/p\u003e","seo_title":"How to mint Choby NFT","seo_description":null,"seo_image":null,"old_image":null,"seo_keywords":null,"short_content":"A Step-by-Step guide on how to mint the unique NFTs with cute unrepeatable images of Chobies backed by tokens inside.","image":{"id":"da63e0c5-d02a-416f-a634-daf980bdded8","storage":"local","filename_disk":"da63e0c5-d02a-416f-a634-daf980bdded8.png","filename_download":"mint_16x9 1.png","title":"Mint 16x9 1","type":"image/png","folder":null,"uploaded_by":"a7ebc4eb-5248-419b-a27a-ef7a875daea2","uploaded_on":"2022-12-22T08:50:28.610Z","modified_by":null,"modified_on":"2022-12-22T08:50:28.632Z","charset":null,"filesize":"1047421","width":1920,"height":1080,"duration":null,"embed":null,"description":null,"location":null,"tags":null,"metadata":{}},"category":{"title":"Tutorials","slug":"tutorials"}},{"id":14818,"status":"published","sort":null,"user_created":"ca36dd59-e84f-4468-80da-d7762c746176","date_created":"2022-10-27T10:39:20.000Z","user_updated":null,"date_updated":null,"title":"How to connect MetaMask","slug":"how-to-install-metamask","content":"\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eWould you like to know how to install the MetaMask wallet and add the Binance Smart Chain (BSC) mainnet there? It is easy! Just follow these steps.\u003c/span\u003e\u003c/p\u003e\u003ch3\u003e\u003cstrong\u003eHow to install the MetaMask wallet\u003c/strong\u003e\u003c/h3\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eFirst let’s install the MetaMask extension to the Chrome browser. To do this go on to \u003ca href=\"https://metamask.io/\"\u003emetamask.io\u003c/a\u003e and click on “Download”.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14821 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/01-1024x578.png\" alt=\"\" width=\"1024\" height=\"578\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eOnce redirected click on “Install MetaMask for Chrome”.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14822 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/02-1024x578.png\" alt=\"\" width=\"1024\" height=\"578\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eOnce redirected to the Chrome web store click “Add to Chrome”\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14823 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/03-1024x577.png\" alt=\"\" width=\"1024\" height=\"577\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eand click on “Add extension” from the pop-up.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14824 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/04-1024x579.png\" alt=\"\" width=\"1024\" height=\"579\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eOnce added you will be redirected onto MetaMask.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14825 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/05-1024x577.png\" alt=\"\" width=\"1024\" height=\"577\" /\u003e\u003c/p\u003e\u003cp\u003eClick on “Get Started”.\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14826 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/06-1024x579.png\" alt=\"\" width=\"1024\" height=\"579\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eClick on “Create a wallet” or “Import wallet” if you already own one.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14827 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/07-1024x577.png\" alt=\"\" width=\"1024\" height=\"577\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eLet’s create a new wallet. Once redirected click on “I agree”.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14828 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/08-1024x576.png\" alt=\"\" width=\"1024\" height=\"576\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eNext type in your password. Retype it again and click on “Create”.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14829 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/09-1024x576.png\" alt=\"\" width=\"1024\" height=\"576\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eOnce redirected click “Next”.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14831 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/10-1024x577.png\" alt=\"\" width=\"1024\" height=\"577\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThen click on “Click here to reveal secret words”. These words need to be saved for the next step and you will need them for logging into your account in the future.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14832 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/11-1024x575.png\" alt=\"\" width=\"1024\" height=\"575\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eOnce they are saved click on “Next”.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14833 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/12-1024x578.png\" alt=\"\" width=\"1024\" height=\"578\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eRe-enter them in order and click “Confirm”.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14834 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/13-1024x577.png\" alt=\"\" width=\"1024\" height=\"577\" /\u003e\u003c/p\u003e\u003ch3\u003e\u003cspan style=\"font-weight: 400;\"\u003eCongratulations! Now your MetaMask wallet should be created.\u003c/span\u003e\u003c/h3\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14835 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/14-1024x575.png\" alt=\"\" width=\"1024\" height=\"575\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eTo access MetaMask click on the puzzle piece at the top right menu of the Chrome browser and find MetaMask.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14836 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/15-1024x576.png\" alt=\"\" width=\"1024\" height=\"576\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eYou can also pin it to your browser by clicking on the pin icon. This will make it easier for you to access.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14837 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/16-1024x577.png\" alt=\"\" width=\"1024\" height=\"577\" /\u003e\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003ch3\u003e\u003cstrong\u003eHow to add the Binance Smart Chain (BSC) mainnet\u003c/strong\u003e\u003c/h3\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eNow let’s install the Binance Smart Chain. Click on the MetaMask Chrome extension.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14838 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/17-1024x576.png\" alt=\"\" width=\"1024\" height=\"576\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eClick on your profile at the top right corner and follow to “Settings”.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14839 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/18-1024x575.png\" alt=\"\" width=\"1024\" height=\"575\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eNext scroll down, click on “Networks”,\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14840 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/19-1024x575.png\" alt=\"\" width=\"1024\" height=\"575\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eand “Add network”.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14841 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/20-1024x576.png\" alt=\"\" width=\"1024\" height=\"576\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThen fill out the boxes with this information:\u003c/span\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003e\u003cspan style=\"font-weight: 400;\"\u003eNetwork name: Smart Chain\u003c/span\u003e\u003c/li\u003e\u003cli\u003e\u003cspan style=\"font-weight: 400;\"\u003eChain ID: 56\u003c/span\u003e\u003c/li\u003e\u003cli\u003e\u003cspan style=\"font-weight: 400;\"\u003eNew RPC URL: \u003c/span\u003e\u003ca href=\"https://bsc-dataseed.binance.org/\"\u003e\u003cspan style=\"font-weight: 400;\"\u003ehttps://bsc-dataseed.binance.org/\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\u003cli\u003e\u003cspan style=\"font-weight: 400;\"\u003eCurrency Symbol: BNB\u003c/span\u003e\u003c/li\u003e\u003cli\u003e\u003cspan style=\"font-weight: 400;\"\u003eBlock Explorer URL (Optional): \u003c/span\u003e\u003ca href=\"https://bscscan.com\"\u003e\u003cspan style=\"font-weight: 400;\"\u003ehttps://bscscan.com\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eClick on “Save”.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14842 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/21-1024x577.png\" alt=\"\" width=\"1024\" height=\"577\" /\u003e\u003c/p\u003e\u003ch3\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe Binance Smart Chain should now be added to your MetaMask and you are currency on it. Great! \u003c/span\u003e\u003c/h3\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14843 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/22-1024x576.png\" alt=\"\" width=\"1024\" height=\"576\" /\u003e\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003ch3\u003e\u003cstrong\u003eHow to connect MetaMask wallet to Choise.com website\u003c/strong\u003e\u003c/h3\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eNow let’s connect your MetaMask wallet to Choise.com website.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eOpen the Chrome browser and go to \u003ca href=\"https://choise.com/\"\u003eChoise.com main page\u003c/a\u003e.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eClick on the wallet icon at the top right corner.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14844 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/23-1024x711.png\" alt=\"\" width=\"1024\" height=\"711\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eChoose “MetaMask” in the pop-up menu.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14845 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/24-1024x710.png\" alt=\"\" width=\"1024\" height=\"710\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eBe sure that your Metamask wallet is using the “Smart Chain” network. If not, it is easy to fix. If you see the warning “Add or change network to Binance Smart Chain MainNet” just click on “Add or change your network”.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14846 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/25-1024x709.png\" alt=\"\" width=\"1024\" height=\"709\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eMetaMask notification window will appear.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eClick on “Switch network”.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14847 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/26-1024x710.png\" alt=\"\" width=\"1024\" height=\"710\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eAfter that try to connect your wallet again and click on the “MataMask” button once more.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14848 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/27-1024x710.png\" alt=\"\" width=\"1024\" height=\"710\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThat’s it. The wallet icon is changed to a profile icon. The icon of MetaMask fox appears as well. Actually it is a button to disconnect the wallet.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-14849 size-large\" src=\"https://wp.prod.testessential.net/wp-content/uploads/2022/10/28-1024x711.png\" alt=\"\" width=\"1024\" height=\"711\" /\u003e\u003c/p\u003e\u003ch3\u003e\u003cstrong\u003eEnjoy Сhoise.com services and the Ambassador program. Let’s build financial freedom together!\u003c/strong\u003e\u003c/h3\u003e","seo_title":null,"seo_description":null,"seo_image":null,"old_image":"https://wp.prod.testessential.net/wp-content/uploads/2022/10/How_to_install_MetaMask_blog.png","seo_keywords":null,"short_content":"Learn how to install the MetaMask wallet, add the Binance Smart Chain (BSC) mainnet and connect MetaMask wallet to Choise.com website.","image":null,"category":{"title":"Tutorials","slug":"tutorials"}},{"id":14434,"status":"published","sort":null,"user_created":"ca36dd59-e84f-4468-80da-d7762c746176","date_created":"2022-09-15T07:50:33.000Z","user_updated":null,"date_updated":null,"title":"Blockchain Bridges: A Comprehensive Guide","slug":"blockchain-bridges-a-comprehensive-guide","content":"\u003cp\u003eNo time to read? \u003ca href=\"#watch-the-video\"\u003eThen watch the video!\u003c/a\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003eTable of Contents:\u003c/strong\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003e\u003ca href=\"#what-is-bridging-in-crypto\"\u003eWhat is Bridging In Crypto?\u003c/a\u003e\u003c/li\u003e\u003cli\u003e\u003ca href=\"#bridge-use-cases\"\u003eBridge Use Cases\u003c/a\u003e\u003c/li\u003e\u003cli\u003e\u003ca href=\"#different-bridges-categories\"\u003eDifferent Bridges’ Categories\u003c/a\u003e\u003c/li\u003e\u003cli\u003e\u003ca href=\"#risks-precautions\"\u003eRisks \u0026amp; Precautions\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eThe blockchain market has gone through many changes since the Bitcoin whitepaper was published in 2008. Its key attribute is the iconic decentralized model, whereby no single entity or foundation is controlling the management of the network. Instead, the management of the network is distributed among a great number of stakeholders.\u003c/p\u003e\u003ch2 id=\"what-is-bridging-in-crypto\"\u003eWhat is Bridging In Cryptocurrency?\u003c/h2\u003e\u003cp\u003eTo connect two blockchain networks a blockchain bridge (BB) is needed. It allows you to exchange information \u003ca href=\"https://choise.com/cho\"\u003eabout tokens\u003c/a\u003e or cryptocurrencies. The bridge can connect two completely different platforms.\u003c/p\u003e\u003ch3\u003eHow do BBs work?\u003c/h3\u003e\u003cp\u003eIn short, a user connects to the system and transfers tokens to another address paying a transaction fee. After transfer, wrapped tokens appear on the acceptor side.\u003c/p\u003e\u003cp\u003eSometimes the user needs to transfer his tokens from one blockchain network to another. To proceed with the transaction, he should go through the following steps:\u003c/p\u003e\u003col\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003eDecide what type of platform he wants to transfer his tokens from.\u003c/li\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003eSelect the amount and type of tokens.\u003c/li\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003eReceive the address and use it to deposit tokens in a crypto-bridge .\u003c/li\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003eThe BB will transfer an equal amount of wrapped tokens to your address on another network.\u003c/li\u003e\u003c/ol\u003e\u003cp\u003e\u003cmark\u003e\u003cb\u003eNote:\u003c/b\u003e Transaction fees are required.\u003c/mark\u003e\u003c/p\u003e\u003ch3\u003eHow does this technology help us?\u003c/h3\u003e\u003cp\u003eIf a developer creates an application based on one blockchain platform, he/she will be limited only to it. BBs help to use multiple platforms and seamlessly transfer tokens between them. Also, with the right connection, it will be possible to transfer specific information with smart contracts.\u003c/p\u003e\u003cp\u003eEach blockchain network has several unique features, such as:\u003c/p\u003e\u003cul\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003esmart contracts;\u003c/li\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003egovernance;\u003c/li\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003ecoins;\u003c/li\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003eprotocols.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eBlockchain bridges help to eliminate the disparition of abovementioned structures for each blockchain and integrate isolated crypto ecosystems.\u003c/p\u003e\u003cp\u003e\u003cmark\u003e\u003cb\u003eNote:\u003c/b\u003e In addition to the option of cross-chain transactions, blockchain bridges may offer other advantages. They provide users with access to new protocols on other chains and allow developers from different blockchain ecosystems to cooperate.\u003c/mark\u003e\u003c/p\u003e\u003ch2 id=\"bridge-use-cases\"\u003eBridge Use Cases\u003c/h2\u003e\u003cp\u003eBest crypto bridges provide a flexible link to safely transfer cryptocurrencies between different networks. All clients can explore a huge number of blockchain technologies and are not limited to a particular chain.\u003c/p\u003e\u003ch3\u003eLower transaction fees\u003c/h3\u003e\u003cp\u003eUsers are not satisfied with the need to pay additional fees to speed up transactions in blockchain networks. But this is crucial for security.\u003c/p\u003e\u003cp\u003eIn blockchain networks, a commission is charged during a transaction. It is necessary to pay validators that help protect transactions from spam attacks and conduct secure transactions. A very high fee creates difficulties when using the blockchain. However, if the fee is too low, this creates severe security problems.\u003c/p\u003e\u003cp\u003eMost cryptocurrencies apply transaction fees for several reasons. They include:\u003c/p\u003e\u003col\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003eCutting the percentage of spam on the network;\u003c/li\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003eReducing the percentage of spam attacks;\u003c/li\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003eImprovement of the system of transaction verification;\u003c/li\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003eA proportional increase of fees according to the confirmation speed.\u003c/li\u003e\u003c/ol\u003e\u003ch3\u003eDecentralized apps on other networks\u003c/h3\u003e\u003cp\u003eDecentralized applications are the apps based on the blockchain and they are fundamentally different from regular apps. Unlike the regular apps that are run on centralized servers owned by the company they work with, decentralized apps use peer-to-peer (P2P) network based on blockchain.\u003c/p\u003e\u003ch3\u003eExplore blockchain ecosystems\u003c/h3\u003e\u003cp\u003eBlockchain ecosystem is a group of elements that are able to interact with each other and other ecosystems to establish an environment with anticipated characteristics. The blockchain ecosystem can be also described as a reliable governance structure for a specific use case.\u003c/p\u003e\u003cp\u003eThe BB control system provides:\u003c/p\u003e\u003cul\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003edefinition of participants’ acceptable behavior;\u003c/li\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003eownership information;\u003c/li\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003efinancing;\u003c/li\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003eentry/exit criteria;\u003c/li\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003edata exchange rules for users.\u003c/li\u003e\u003c/ul\u003e\u003ch3\u003eNative crypto assets world\u003c/h3\u003e\u003cp\u003eA native cryptocurrency – a bridges token – is a digital coin that is inseparable from the network. That is, during transactions, the asset is transferred along with the coin that covers the fee. Native coins move from one blockchain address to another while covering the miner\u0026#8217;s commission.\u003c/p\u003e\u003ch2 id=\"different-bridges-categories\"\u003eDifferent Bridges’ Categories\u003c/h2\u003e\u003cp\u003eBBs can be subdivided according to centralization type, classification of techniques, and operation models.\u003c/p\u003e\u003ch3\u003eCrypto bridges by centralization types\u003c/h3\u003e\u003cul\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003ca href=\"https://choise.com/news/tutorials/cefi-crypto-all-about-centralized-finance\"\u003eCentralized\u003c/a\u003e bridges suggest that users rely on a central controller to correctly and securely use the technology. There are certain criteria in this system that the user must comply with to move and operate correctly.\u003c/li\u003e\u003cli style=\"font-weight: 400;\" aria-level=\"1\"\u003e\u003ca href=\"https://choise.com/news/buy-crypto/what-is-defi-crypto\"\u003eDecentralized\u003c/a\u003e ones work independently, utilizing smart contracts. Any user of these bridges can carry out transactions using them without the regulator’s control.\u003c/li\u003e\u003c/ul\u003e\u003ch3\u003eOperation models\u003c/h3\u003e\u003cp\u003eAnother subdivision takes into account how the crypto bridges operate. The two wide-spread types are wrapped token bridges and side chain bridges. Token-wrapped bridges provide crypto interoperability. Side chain bridges link the original network to the daughter side chain, permitting the token transfer between two networks.\u003c/p\u003e\u003cp\u003eThey are must-haves because the original and daughter networks may have different operational mechanisms.\u003c/p\u003e\u003ch3\u003eClassification by techniques\u003c/h3\u003e\u003cp\u003eWith a one-way bridge, you can move tokens in one direction. Whereas, a two-way bridge does it in two directions.\u003c/p\u003e\u003ch2 id=\"risks-precautions\"\u003eRisks And Precautions\u003c/h2\u003e\u003cp\u003eDespite opportunities, the use of crypto bridges may lead to significant problems, such as a lack of security. There have been cases when, during transactions, attackers stole users’ tokens.\u003c/p\u003e\u003cp\u003e\u003cmark\u003e\u003cb\u003eImportant:\u003c/b\u003e Users of custodial bridges can become victims of bridge token theft. There is also a high risk of stealing the user money. When using custodial bridges, you should choose the best and most approved crypto bridges with many years of experience.\u003c/mark\u003e\u003c/p\u003e\u003cp\u003eAnother possible technical restriction is the limited speed of transactions. A bandwidth limitation in a particular chain can hinder the significant interoperability function of the blockchain industry.\u003c/p\u003e\u003ch2\u003eWrapping up\u003c/h2\u003e\u003cp\u003eBlockchain technologies are constantly improving and offering users new opportunities. However, they are not without risks. The pioneers of Bitcoin and Ethereum can be called successful, but most their followers are still poorly established and potentially vulnerable. Blockchain bridges are required to connect multiple cryptocurrencies and platforms.\u003c/p\u003e\u003cp\u003eThe developers do everything to keep them safe for storing data and your funds. Let’s continue to follow the developments. If you are still itching to test the existing technology capabilities, be prepared for any outcome. With the help of blockchain bridges, transactions are made much faster and with lower fees, but to avoid the theft of your tokens, choose trusted platforms carefully.\u003c/p\u003e\u003ch3 id=\"watch-the-video\"\u003eWatch video about Blockchain Bridges\u003c/h3\u003e\u003cp\u003e\u003ciframe loading=\"lazy\" title=\"Crypto Unfiltered: What Are Blockchain Bridges \u0026amp; Why Should You Care?\" width=\"500\" height=\"281\" src=\"https://www.youtube.com/embed/QOAptqJNjk8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen\u003e\u003c/iframe\u003e\u003c/p\u003e","seo_title":"What is a Blockchain Bridge, How It Work, Categories \u0026 Risks","seo_description":null,"seo_image":null,"old_image":"https://wp.prod.testessential.net/wp-content/uploads/2022/09/imgonline-com-ua-Compressed-kKUCcqrTy9JdjmK.jpg","seo_keywords":null,"short_content":"No time to read? Then watch the video! Table of Contents: What is Bridging In Crypto? Bridge Use Cases Different Bridges’ Categories Risks \u0026amp; Precautions The blockchain market has gone through many changes since the Bitcoin whitepaper was published in 2008. Its key attribute is the iconic decentralized model, whereby no single entity or foundation","image":null,"category":{"title":"Tutorials","slug":"tutorials"}},{"id":14431,"status":"published","sort":null,"user_created":"ca36dd59-e84f-4468-80da-d7762c746176","date_created":"2022-09-14T13:25:29.000Z","user_updated":null,"date_updated":null,"title":"CeFi Crypto: All About Centralized Finance","slug":"cefi-crypto-all-about-centralized-finance","content":"\u003cp\u003e\u003cstrong\u003eTable of Contents:\u003c/strong\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003e\u003ca href=\"#how-to-earn-with-cefi\"\u003eHow To Earn With CeFi\u003c/a\u003e\u003c/li\u003e\u003cli\u003e\u003ca href=\"#features-of-cefi\"\u003eFeatures of CeFi\u003c/a\u003e\u003c/li\u003e\u003cli\u003e\u003ca href=\"#what-are-the-risks-of-cefi\"\u003eWhat are the risks of CeFi?\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eCeFi (short of Centralized Finance) is a traditional financial approach, where the users can earn interest and get loans through centralized cryptocurrency exchanges.\u003c/p\u003e\u003cp\u003eOn the opposite side stands \u003ca href=\"https://choise.com/news/buy-crypto/what-is-defi-crypto\"\u003eDeFi\u003c/a\u003e (Decentralized Finance) – an approach where the token holder has full control of their assets and uses decentralized exchanges for any operations with money.\u003c/p\u003e\u003ch2 id=\"how-to-earn-with-cefi\"\u003eHow to Earn With CeFi\u003c/h2\u003e\u003cp\u003eYou can lend out some money to exchanges (centralized exchanges or CEXs) and they will pay \u003ca href=\"https://choise.com/interest-accounts\"\u003eyou interest\u003c/a\u003e partially. Or you can exchange your tokens for other \u003ca href=\"https://choise.com/cho\"\u003ecryptocurrency\u003c/a\u003e (including stablecoins) or to fiat currencies, such as a US dollar. You can buy and sell it all directly or just store it in a wallet associated with the exchange (or transfer the money to your own private wallet).\u003c/p\u003e\u003ch3\u003eHow It Works?\u003c/h3\u003e\u003cp\u003eCentralized exchanges (CEXs) operate similarly to banks and other financial institutions: you can \u003ca href=\"https://choise.com/predictions\"\u003edeposit\u003c/a\u003e some money and get the returns or exchange it for another token. CEXs are usually controlled by a certain entity and require little to no paperwork compared to real-world financial organizations.\u003c/p\u003e\u003ch3\u003eWatch video about Centralized Finance\u003c/h3\u003e\u003cp\u003e\u003ciframe loading=\"lazy\" title=\"What Is Centralized Finance in Crypto | CeFi Explained\" width=\"500\" height=\"281\" src=\"https://www.youtube.com/embed/31PHnOyWiJM?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen\u003e\u003c/iframe\u003e\u003c/p\u003e\u003ch2 id=\"features-of-cefi\"\u003eFeatures of CeFi\u003c/h2\u003e\u003cp\u003eThe main advantages of using centralized exchanges are listed below:\u003c/p\u003e\u003cul\u003e\u003cli aria-level=\"1\"\u003e\u003cstrong\u003eReliability.\u003c/strong\u003e Centralized exchanges must follow the financial regulations of their location, so they must meet certain criteria for security, as well as customer safety and experience.\u003c/li\u003e\u003cli aria-level=\"1\"\u003e\u003cstrong\u003eSpeed.\u003c/strong\u003e The CEXs are usually fast by design.\u003c/li\u003e\u003cli aria-level=\"1\"\u003e\u003cstrong\u003eHigh trading volume.\u003c/strong\u003e Since centralized exchanges are popular and have multiple liquidity providers, they have larger amounts of money in circulation.\u003c/li\u003e\u003cli aria-level=\"1\"\u003e\u003cstrong\u003eImpressive levels of customer experience. \u003c/strong\u003eMany centralized exchanges are designed with user experience in mind. They usually offer clean and intuitive interfaces and provide technical support around the clock, backed by their dedicated teams.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eAs you can see, centralized exchanges have come a long way since they first emerged in the beginning of the 2010’s (early days of cryptocurrencies). They now offer many different possibilities and features both for beginners and experienced traders alike.\u003c/p\u003e\u003cp\u003e\u003cmark\u003eYou can buy, sell, exchange, store crypto and use additional tools. You can expect a great level of user experience and attentive customer support teams. Sometimes, they can even rival banks.\u003c/mark\u003e\u003c/p\u003e\u003ch2 id=\"what-are-the-risks-of-cefi\"\u003eWhat Are the Risks of CeFi?\u003c/h2\u003e\u003cp\u003eThere are same underlying risks associated with CeFi, such as:\u003c/p\u003e\u003cul\u003e\u003cli aria-level=\"1\"\u003e\u003cb\u003eUnderstanding the way the exchanges work requires some knowledge.\u003c/b\u003e To understand how exactly they will provide the yield, it is important to know something about the processes. Sometimes exchanges operate differently, so it is better to learn about them.\u003c/li\u003e\u003c/ul\u003e\u003cul\u003e\u003cli aria-level=\"1\"\u003e\u003cb\u003ePrivacy and security related risks. \u003c/b\u003eDespite usually having additional layers of security, the centralized nature of CEXs makes them even more vulnerable to hacker attacks and security leaks. And not all exchanges are safe by design. So you should make your own investigation and always check what exchanges you can trust.\u003c/li\u003e\u003c/ul\u003e\u003cul\u003e\u003cli aria-level=\"1\"\u003e\u003cb\u003eThe risks of losing your funds. \u003c/b\u003eRelated to the safety and security risks listed above. Centralized exchanges are sometimes controlled by an entity that is not always trustworthy and vulnerable to attacks.\u003c/li\u003e\u003c/ul\u003e\u003cul\u003e\u003cli aria-level=\"1\"\u003e\u003cb\u003eHaving less control. \u003c/b\u003eAn obvious side effect of the centralized nature of CEXs: your holdings are not under your control.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eAs is the case with everything in the world of CeFi, reputation of the exchanges and doing your own research are extremely important. Know what you do, learn who you can trust and read about the way how a certain exchange operates. If you have doubts and are experienced in the world of cryptocurrency, you can always go to decentralized exchanges instead.\u003c/p\u003e","seo_title":"What Is CeFi Crypto \u0026 How To Earn With Centralized Finance?","seo_description":null,"seo_image":null,"old_image":"https://wp.prod.testessential.net/wp-content/uploads/2022/09/imgonline-com-ua-Compressed-WqHVNdg4M4Zi.jpg","seo_keywords":null,"short_content":"Table of Contents: How To Earn With CeFi Features of CeFi What are the risks of CeFi? CeFi (short of Centralized Finance) is a traditional financial approach, where the users can earn interest and get loans through centralized cryptocurrency exchanges. On the opposite side stands DeFi (Decentralized Finance) – an approach where the token holder","image":null,"category":{"title":"Tutorials","slug":"tutorials"}}]},"page":1,"category":{"id":49,"title":"Tutorials","slug":"tutorials"}},"__N_SSP":true},"page":"/news/[category]","query":{"category":"tutorials"},"buildId":"sEhMx3rRuf7nlxHV9DH4o","isFallback":false,"gssp":true,"locale":"en","locales":["en"],"defaultLocale":"en","scriptLoader":[]}</script></body></html>