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Solana’s Network Shutdown Can Be A Good Thing, Here’s Why

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Solana recently hit headlines halting transactions on the network suddenly for over 3 hours. The pausing of transactions resulted in a complete stop of the networks activity. Solana’s price continued to drop over 25% from all time highs. Investors are worried wondering, is my money safe?

Solana carries a blooming eco-system of smart contracts and scalability. The cost of performance for this project became apparent recently; Centralization. Investors shouldn’t be worried about a temporary halt on the network, it can even prove to be a good thing. Investors seek safety nets for their investments. Blockchain is a newer concept introduced with 10-14% of the population being involved in cryptocurrencies reported in 2021. Centralization becomes more and more part of cryptos journey to mainstream attention. Our team sees the recent dip as a buying opportunity, we’ll explain why.

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Q: Is the network shutting down a bad thing?

This is a tough question to answer but not directly, no and yes. The short term stress for holders proves negative but to keep in mind; The financial systems have always been built around trust. A sense of security for holders halting transactions proves there is a solution to worries of network hacking. Besides, this isn’t the first time a blockchain project has been stopped completely. It’s not the end of Solana’s long-term journey. Solana was given a second chance which we talk about more later on. The network proves to have great technology, but user trust comes first.

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February 12th, 2020, hackers of the IOTA network find an exploit. Hackers are able to discover a vulnerability in a third party service payment service. Wallets started to lose funds as thieves gained access. To protect the users of the network, IOTA halted the coordinator network. All activity paused as users were given one month to migrate to a new secret key phrase to move their stored funds. The community was livid. How can investors trust in a project that can’t fulfill its promised purpose?

IOTA price chart

(Want to only buy and store crypto offline? Check out the top 3 secure hardware wallets here.)

A: What can we learn from IOTA for Solana?

Blockchain network halts can actually be a good thing.. after they happen. This network shutdown was a lucky case for the project. Scares like this bring future security for the network emphasizing the importance in security. Investors bringing large capital should be worried about said network errors. Users gain security in their money with the ability for accounts to be recovered. In this worst care scenario, users of Sol were protected. Solana was given a second chance just like IOTA. IOTA initially after the event fell roughly 50% from local highs to 0.10 cents. IOTA managed to recover and skyrocket up to $2.00 by September 2021. We see events like this as temporary stress on long-term success. Solana’s second hope brings new opportunity for improved tamper resistant infrastructure. The community demand for proven chains continues to grow. Ethereum and Bitcoin remain as top picks due to said trust at least in tech. Blockchain isn’t completely about being anonymous anymore, users like security and NFTs too! Keep your crypto secure on a hardware wallet.

QA: How can I protect myself and my keys?

Investors should only be buying crypto from trusted exchanges and websites. Do not connect personal wallets to websites you do not trust. Be careful with who or where you store your seed phrases. Most importantly, gain control of your seed phrases and crypto. Store your crypto on the network but in your reach with a secure hardware wallet. Write your seed phrases in secure places and keep them to yourself.

Crypto News Wrap – September 24th, 2021

The Crypto News Wrap is a daily updating article grouping the biggest news in blockchain into one place. Come back daily to stay up to date and ahead of the markets. September 24th, 2021 China bans BTC for 7th time, warns local governments of Evergrande potential failure. Fantom network releases commison free NFT marketplace. Evergrande […]

Crypto News Wrap – September 23rd, 2021

The Crypto News Wrap is a daily updating article grouping the biggest news in blockchain into one place. Come back daily to stay up to date and ahead of the markets. Our wraps update throughout the day, come back often. September 23rd, 2021 Twitter deploys NFT authentication services as well as bitcoin tipping on IOS […]

Crypto News Wrap – September 22nd, 2021

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League of Legends Inevitable Crypto Partnership, What Would Happen?

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League of Legends is one of the largest played games in North America. Currently the game hosts over 32.5 million players. The game has recently seen large partnerships in its e-sports scene. Teams such as Fnatic partnering with the exchange Crypto.com which has seen partnerships from names such as UFC lately. Evil Geniuses is another large team partnering (source) with a crypto gambling site. The scene sees a sharp connection between gamers and crypto enthusiasts alike. Even companies like AMC enter the scene.

So what would crypto look like in League of Legends?

Nobody knows for sure what it might look like implemented but we have some good guesses. League of legends players own “skins” which are like costumes for various champions. These skins provide unique visual appearances. Skins are sold in the games public shop in the client for the most part. There was a previous time period where skins could be redeem as collectible codes. Unique ideas get presented when NFTs get brought into the picture with skins. Hackers of League of Legends accounts would not be able to steal collectibles.

We surely imagine seeing projects like OpenSea’s NFT platform being connected to League profiles. Users could own NFTs for limited skins and connect their Ethereum ID to redeem the skin on their profile.

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We also can imagine Riot Points on the platform being converted to a localized cryptocurrency. Research has shown anything can be a billion dollar crypto project worth investing in. Users could store their currency offline on secure hardware devices to hold long term. Users can invest in the success of Riot sort of like a stock. The currency could implement a burn system and create a token. The token could be traded off platform for everyone to be able to invest.

What are the craziest things Riot Games could implement?

Riot endless options when it comes to opportunities in the blockchain space. If the company continues to expand out to other games like earlier in the year, we could see a metaverse. A world where users could show off their NFT skins or other collectibles. Nobody knows the full stretches of where technology reaches in the near future, our team is excited though.

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Gaming and the future of Crypto

Gaming is going to have a huge connecting to cryptocurrencies in the future. The market for such gaming cryptocurrencies has already exploded earlier this year. We are watching closely to these projects for more. Want to be a better investor? Get news sent directly to your email below.

Solana’s Network Shutdown Can Be A Good Thing, Here’s Why

Solana recently hit headlines halting transactions on the network suddenly for over 3 hours. The pausing of transactions resulted in a complete stop of the networks activity. Solana’s price continued to drop over 25% from all time highs. Investors are worried wondering, is my money safe? Solana carries a blooming eco-system of smart contracts and […]

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Dogecoin, everyone’s favorite “OG meme coin”. breaks downward trend shooting up past 25 cents Thursday night, September 16th. It’s that time of the year again where everyone gathers around their social media accounts waiting for the next shocking crypto news story. The Doge faced currency sits at 33.18 billion in market cap. Media push propped […]

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Top 3 Crypto Hardware Wallets Ranked, September 2021

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Our team trades all the time, we need fast, reliable, trustworthy technology to protect our holdings offline. Cryptocurrency users need security in their transactions. Fortune points out, exchanges have been a lucrative target for crypto enthusiasts all of 2021. We want to make sure we put the top device, in your hand. These devices are for users wanting to keep crypto off an exchange. Keep your wallet in your hand on one of these. Make your private seed phrases directly on the wallet, out of the hands of exchanges.

We prepared a list of the best cryptocurrency hardware wallets available. We will go over some of the pros/cons, prices, links, features, and more. All of the products are available through amazon, but run out of stock frequently. The market for these products changes rapidly and availability is not always 100%, make sure to check the prices!

Also, why three? We believe in these three so much that we wouldn’t go elsewhere. They can handle what you need to get done. Don’t go to other companies looking for an established crypto product. The two known companies in the market currently hold most of the market share. These wallets are secure, powerful and easy to carry.

Before we dive into the list prepared we want to disclaim to all investors. DO NOT BUY HARDWARE WALLETS USED. These devices need to be purchased new straight from companies themselves. Don’t be a target to a cryptocurrency attack in 2021. Keep your crypto secure, buy from trusted retailers such as the Amazon links provided below. Any of these products are #1 in our book.

3. Ledger Nano X

Ledger Nano X Price $$$

The Ledger Nano X makes number three on our list. It is a good midrange crypto wallet that stores most of the popular top market caps project. The Nano network is very strict on security only allowing certain coins and tokens. The average investor who wants to hold their crypto securely certainly can find this a great pick. We’ve attached current prices.

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  • Hosting 100 Applications
  • Smart Phone App
  • Transfer Using Bluetooth
  • Manage Over 22 Coins
  • Hundreds Of Tokens
  • USB C/USB INCLUDED
  • Stake Crypto in Device to earn passive income
  • Best Average Device for Enthusiasts

Ledger Nano X Price changes upon market conditions

Q: What Makes This Our Third Pick?

As much as we love the Nano X and own it personally, it’s not best suite for the average investor. If you plan on holding projects such as Ethereum, Bitcoin and a couple alt coins, our #1 pick would be a better bang for your buck. This device is for experienced traders looking to expand into quite a few crypto projects. Explore the dAPPs available directly from the platform. Buy cryptocurrency straight from the Ledger Nano X platform in app on the device.

2. Trezor Model T

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A serious investor in the crypto space who loves peace of mind and fancy tech would love our next pick. Trezor Model T, a higher end product with unbreakable security, touch screen display, 100% money back guarantee. An easier device to use with higher end capabilities. This is not a product you would want to go without as a lifelong crypto investor. We’ve attached current price below.

  • Top of the line security
  • USB, Recovery seed cards
  • 240×240 pixels
  • Stake Crypto in Device to earn passive income
  • Connect straight to PC
  • Recommended for more active traders.
  • Tightest Security, Most expensive, Best features.

Q: What Makes This Our Second Pick?

Investors looking for the higher end device on the market should look here. This device is expensive in price compared to other picks. It’s not the greatest pick for the casual BTC investor trying to HODL.

Trezor Model T Price Changes upon market conditions

1. Ledger Nano S

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The top of our list is the Ledger Nano S. The most well rounded pick for the investor trying to spend all of their money on crypto. Secure with multiple currencies and the pick for anyone trying to hold the bigger cap coins only. You would want this if you plan on HODLing BTC/ETH and maybe a few other top coins.

  • 8 digit pin code
  • Stake Crypto in Device to earn passive income
  • Secure and quick
  • USB connection
  • More than 30 crypto currencies
  • Access to tokens on crypto projects
  • Easy to use
  • Store most projects, spend the least amount of money.

Q: Why did we choose the Ledger Nano S as #1?

The Ledger Nano S is the most worth while investment for experienced casual traders. Store a few cryptocurrencies to hold with trustworthy security. The device is known to be affordable and smaller than other models. This makes the most sense for the average investor. Utilize the security of Ledger technology with this device.


Thank you for reading our article. We provide information to protect the crypto community and inform. Stay tuned to our website for more posts.

Ledger Nano S Price Changes upon market conditions, check price here for current prices.

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