5 NOV 2020

What Is Algorand? & How To Earn It For Free On Coinbase!

In this blog post, I am going to show you how you can earn free crypto by using your Coinbase account. I have recorded a video before showing you how to earn Stellar, but in this blog post, I show you how you can earn Algorand for free using your Coinbase account.

Now you can earn free BNB on Yanda, SEE HOW HERE

What Is Algorand?

Algorand is a technology company that built and developed a public cryptocurrency blockchain and protocol. It is an open, permissionless, pure proof-of-stake blockchain protocol that, without forking, provides the necessary security, scalability, and decentralization needed for today’s economy. With an award-winning team, some made up of MIT grads and the founder MIT professor Silvio Micali. Algorand enables traditional finance and decentralized financial businesses to embrace the world for frictionless finance.

What Is Algorand Solving?
Simply put, Algorand is trying to solve the Blockchain Trilemma.

What is the Blockchain Trilemma?
The blockchain Trilemma is one of the biggest hurdles for all cryptocurrencies. The blockchain Trilemma is a situation. A situation whereby the three basic concepts of blockchain technology can’t all be met equally. The three trilemmas are security, scalability, and decentralization. The Blockchain trilemma states that you can always achieve the three main attributes of scalability, security, and decentralization, however, it will come at the expense of one or two of the others. To be the best or perfect cryptocurrency you need to master all 3 key components at the same time.

The Trilemma concept was originally signified by Vitalik Buterin, the founder of Ethereum (ETH), who invented the name in regard to the scalability of blockchain technology.

(Ethereum 2.0 is here very soon and we will write a post about soon so check back in for the link.)

For example, you can have a secure transaction but because security takes so long to verify you cant do as many transactions at once. Or you can have fast transactions and more of them but they won’t be as secure, or you can have fast and secure transactions but only if the network is controlled by a small number of participants.

Here are a few examples

  1. You can have a large number of nodes, the network is secure, but it then has limited scalability as the nodes have to validate all the transactions.
  2. You can have faster transactions to scale but the chain won’t be as secure.
  3. You can have Fast and Secure transactions but only if the network is controlled by a small number of participants.

So far it’s proven to be difficult to utilise all three of these components of a blockchain together in a neutral and best practise way. We don’t want to see anyone of the 3 factors being sacrificed and I’m sure that over the coming years one of the protocols projects will solve this. However, it might be one that is yet discovered…

The blockchain trilemma is a tough nut to crack and many are trying but this most likely will not be solved 100% in the near future. However, we will be looking into this more and reporting on more blockchain projects that are attempting to make the perfect environment.

Disclaimer: This information should not be interpreted as an endorsement of any cryptocurrency or company. It is not a recommendation or advice to trade. Crypto markets are full of surprises, overhyped and volatile. Do your research before investing, and do not invest more than you can afford to lose. You should always consult a financial professional with the proper experience when making a decision to invest in something you do not understand.
How To Earn Algorand For Free Using Your Coinbase Account.
Login in to your Coinbase account and then click on Earn rewards at the top. Something like this
Then watch the videos to earn free crypto. When you watch these videos you can earn $2 for each video totalling $6. You also have the opportunity to earn even more… $171 more when you watch other videos that are available.

(disclaimer, this may be more or less depending on your current location)

Have You Tried Automating Your Crypto Trading?
If you haven’t and you are asking the question to yourself… What is automated trading? Let me explain. Automated trading is a method of participating in financial markets by using a programme that executes a set of rules that you set or the program sets for entering and exiting trades for you automatically. As the trader, you’ll get to set parameters such as position entry, stops losses, profits from buy, profits forms sell and also use more advanced trading using restart levels.

Auto trading enables you to trade multiple times in a small amount of time, with the added benefit of taking the emotion out of your trading decisions. This is because all the rules set is already built into the parameters.

First, you will need to choose a platform and set the parameters of your trading strategy. I obviously recommend using Yanda to automate your crypto trading. You can then use your trading platform to create a set of rules or parameters. Your custom algorithm will follow the criteria to place trades on your behalf. These factors are normally based on the price at which it should be opened and closed to take profit from a buy and sell. For example, ‘buy 1 Bitcoin when it makes a 2% profit.

The automated trading strategy that’s been set will constantly monitor crypto market prices, and trades will automatically be executed if your predetermined parameters are met.

What Are The Benefits Of Automated Trading?
With automated trading, you can:

  • You can trade and fit your trading strategy around your schedule and life
  • You can execute crypto trades automatically, day or night so you can sleep peacefully.
  • You can minimise your emotional trading so that you stick to your planned trading strategies. FOMO is the worst, no one wants to miss an opportunity.
  • Your trading bot will Identify new opportunities that you may have missed if you were trading manually.
  • Your trading bot will execute multiple real-time trades.

Why should I automate my trading?
Automated trading can help you increase the efficiency of your trades as by using crypto bots you can perform faster executions on the market, for instance, trading bitcoin and Litecoin.
Now, automated trading might or might not be right for you. However, if you’re looking for a technique that helps you to trade according to predefined trading parameters, and where once you launch the bot you will no longer have to touch it until it reaches the desired profit goal. Then this can be a great addition to your trading toolbox. Automated trading is a good solution for someone who wants a low maintenance trading strategy that relies on advanced technology, also did I mention that we have AI?. Yes, when you join Yanda you can also take advantage of selecting an artificial trading package to assist you even further and find crypto pair anomalies that you can take further advantage of.

Why You Should Trust Yanda And Create An Account! A Biased Yanda Review.
Well, that’s a good question and I have to apologize as this personal trust review of Yanda will be very biased. You should do your own research before using us. Also, note and this is my disclaimer, I am not a financial adviser and you should not take anything of what I say as advice to start trading automatically. Even though trading bitcoin is awesome, you really do need to seek professional advice from someone qualified when deciding to make an investment. With that said here is a short statement as to why you should trust Yanda with your trading.

Yanda has a knowledgeable and professional team built up of crypto traders, designers, programmers and is back by investors such as Startup Yard and Nesthoma. The trading platform has been around since 2015 although was rebranded to Yanda in 2017 from BMYBIT. Yanda has more than 14,000 registered users and its user have now created over 22,000 trading bot whilst keeping an amazing 97% trading success rate among its users. You can also watch this video where I show you how I create trading bots using Yanda.
Yanda is not going anywhere. In fact it quite the opposite. We have plans to scale further and also bring you an even better trading experience. The team are always developing to improve your experience and profits. With Yanda, our traders come first, and we want to make the trading of cryptos like Bitcoin, Ehtereum, Maker and more available to all, no matter where you are in the world or where you are starting in your trading journey.

Join us, and start automating your crypto trading.

Author: Chris Wyatt