{"id":776,"date":"2023-01-09T11:16:21","date_gmt":"2023-01-09T11:16:21","guid":{"rendered":"http:\/\/78.47.81.216\/?p=776"},"modified":"2023-02-28T14:15:10","modified_gmt":"2023-02-28T14:15:10","slug":"how-much-does-it-cost-to-mint-an-nft","status":"publish","type":"post","link":"https:\/\/blog.ag.qubiq.cc\/?p=776","title":{"rendered":"How much does it cost to mint an NFT?"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"http:\/\/78.47.81.216\/wp-content\/uploads\/2023\/01\/NFT-mint-\u2013-how-much-does-it-cost_-1024x576.jpg\" alt=\"\" class=\"wp-image-780\" srcset=\"https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/01\/NFT-mint-\u2013-how-much-does-it-cost_-1024x576.jpg 1024w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/01\/NFT-mint-\u2013-how-much-does-it-cost_-300x169.jpg 300w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/01\/NFT-mint-\u2013-how-much-does-it-cost_-768x432.jpg 768w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/01\/NFT-mint-\u2013-how-much-does-it-cost_.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>NFT <\/strong>is the latest concept in crypto that seems capable of resonating with a wider audience and attracting more than just avid crypto-enthusiasts. <strong>NFT <\/strong>continues to interest investors and digital data collectors. Not surprisingly, many people want to <strong><a href=\"https:\/\/blog.alphaguilty.io\/nft-farming\">mint an NFT<\/a><\/strong> and are interested in this question. If you want to learn even more about NFTs &#8211; check out <a href=\"https:\/\/blog.alphaguilty.io\/ultimate-nft-guide-all-you-need-to-know-about-nft\">this ultimate guide<\/a> to them by our CEO, Mykhailo Sitalo!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>NFTs <\/strong>allow many people to earn and multiply their capital many times over in just a few hours. If you are a crypto enthusiast, and you are interested in a hidden gem project, it is vital that you understand what minting is and how to mine <strong>NFTs<\/strong>. How much does it cost &#8211; another important issue.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"405\" src=\"http:\/\/78.47.81.216\/wp-content\/uploads\/2023\/01\/image-10-1024x405.png\" alt=\"\" class=\"wp-image-778\" srcset=\"https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/01\/image-10-1024x405.png 1024w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/01\/image-10-300x119.png 300w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/01\/image-10-768x304.png 768w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/01\/image-10.png 1431w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Today we will tell you about the <strong>cost of minting<\/strong> and the <strong>NFT minting process.<\/strong> There will be a lot of useful information about <strong>NFT minting<\/strong> not only for newcomers but also for experienced users in the field of <strong>NFT<\/strong>. Do you want to make a great investment or earn more <strong>money <\/strong>by <strong>selling an NFT<\/strong>? So, it is very important for you to look into this subject.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Minting process<\/strong>: what is it?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Minting <\/strong>an <strong>NFT <\/strong>means <a href=\"https:\/\/blog.alphaguilty.io\/how-to-create-an-nft-easy-to-learn-guide\">creating an <strong>NFT<\/strong><\/a>. So, <strong>minting <\/strong>is the act of publishing a token. The most popular blockchain for <strong>NFT <\/strong>creation is the<strong> Ethereum blockchain<\/strong>. NFT minting is the process of publishing a unique digital element on the blockchain, this creates an immutable record of authenticity and ownership. Once minted, the token can be bought, sold and traded.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In other words, <strong>minting <\/strong>is the operation of creating a token with its registration in the <strong>Ethereum blockchain<\/strong>. So, data about the <strong>NFT <\/strong>and its author will be included in the network.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Before <strong>minting <\/strong>an <strong>NFT<\/strong>, the creator can choose token settings, including royalty requirements &#8211; rewards for reselling it on the <strong>NFT marketplace<\/strong>. There are also a few other points to consider in more detail:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Minting <\/strong>involves <strong>NFT transactions<\/strong> with charges. This is usually an expensive feature involved in the creation of such a token.<\/li>\n\n\n\n<li>You must have various items that you can treat as your <strong>NFT collection<\/strong> (most often images). To <strong>create NFTs<\/strong>, you will need a wallet.<\/li>\n\n\n\n<li>When updating the items selected on the chosen platform and <strong><a href=\"https:\/\/blog.alphaguilty.io\/how-to-create-an-nft-easy-to-learn-guide\">creating NFTs<\/a> <\/strong>is complete, you can put them up for sale. From there you can sell <strong>NFTs <\/strong>and get your <strong>money<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">As security measures for beginners, it is recommended to create a standalone wallet for each <strong>minting <\/strong>and each platform with minimal funds in the account, so that in the case of theft or hacking the user does not lose your investment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u0421ost of minting an NFT<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">When it comes to the <strong>cost of minting<\/strong>, it is very important to be aware of the features involved. The <strong>cost <\/strong>will be affected by the platform you use to mint the NFT and several other factors, which we will discuss next. When you need to<strong> <a href=\"https:\/\/blog.alphaguilty.io\/nft-farming\">mint an NFT<\/a><\/strong>, you immediately wonder about the <strong>cost <\/strong>of the process.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Blockchain<\/strong><\/td><td><strong>Cost<\/strong><\/td><\/tr><tr><td>Etherium<\/td><td>0.01 &#8211; 0.05 ETH<\/td><\/tr><tr><td>Solana<\/td><td>0.00001 SOL<\/td><\/tr><tr><td>Polygon<\/td><td>Free (but considering marketplace charges)<\/td><\/tr><tr><td>Tezos<\/td><td>0.08 &#8211; 3.6 XTZ<\/td><\/tr><tr><td>Cardano<\/td><td>0.17 &#8211; 1.5 ADA<\/td><\/tr><tr><td>WAX<\/td><td>0.13 &#8211; 13 WAXP<\/td><\/tr><tr><td>Avalanche<\/td><td>0.008 &#8211; 0.02 AVAX<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">So, in addition to the <strong>cost <\/strong>of production, factors affecting the <strong>cost <\/strong>of <strong>minting <\/strong>will include the time of the day. <strong>Minting <\/strong>is cheaper at night and the <strong>cost <\/strong>is smaller because there will be less traffic then. On the other hand, if you are <strong>minting <\/strong>during the week, the <strong>cost <\/strong>may be more expensive because there is more online activity during that time.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Newcomers to the crypto sphere may think that the process is not so complicated and is overpriced. However, many factors come into play. They vary on a large number of platforms. The <strong>cost to mint<\/strong> can also increase dramatically due to commission. Here are some factors you may want to consider that greatly affect the <strong>cost<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The gas fee is one of the most important <strong>costs <\/strong>for this process. It is a kind of compensation for miners.&nbsp;<\/li>\n\n\n\n<li>Some platforms may allow you to create or <strong>mint NFTs<\/strong> without the previous options, but you have to pay sales charges.&nbsp;<\/li>\n\n\n\n<li>Charges for creating an account depending on the platform you choose to create your NFTs. So, the selected platform also has an <strong>impact on the cost.<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">So, how <strong>much does it cost<\/strong>? An <strong>NFT collection <\/strong>is a pretty exciting idea, but not when you hear about associated <strong>costs<\/strong>. The <strong>cost of creating <\/strong>such a token will range from $0.1 to $170.&nbsp; At peak times, the <strong>cost of creating<\/strong> can be $300 or more. When With Ethereum, you can run into high commissions that can reach over $500 at the busiest times.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The distinction between <strong>minting <\/strong>and buying an <strong>NFT<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">When we buy a token on the <strong>NFT marketplace<\/strong>, we are only getting it from the previous holder. You can only mine a token by taking part in the original distribution. That&#8217;s why you have to pay the <strong>cost to mint<\/strong> it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That is, <strong>minting <\/strong>an <strong>NFT <\/strong>means buying it for the first time. Some mints are free (you only need to pay for gas), but most often the project sets a certain selling <strong>cost<\/strong>. In the process of <strong>minting<\/strong>, users buy up all the <strong>NFT <\/strong>and then sell it on the <strong>NFT marketplaces<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Another feature of the <strong>mint <\/strong>is that the buyer cannot choose the <strong>NFT <\/strong>when buying. You simply pay the <strong>cost <\/strong>of the <strong>mint <\/strong>and get the token at random. It can be either the most common specimen or a very rare<strong> advanced NFT<\/strong>. That&#8217;s why the <strong>cost to mint<\/strong> is justified.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why is NFT so expensive?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">When newcomers in this field need to <strong><a href=\"https:\/\/blog.alphaguilty.io\/nft-farming\">mint an NFT<\/a><\/strong>, many of them wonder why these tokens are so expensive after all. Here we should say that cryptocurrency and NFT work the same way, the only difference between them is the concept of nonfungible.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This technology has made it possible to prove ownership of digital items and their authenticity. Now, despite the millions of copies of a meme on the Internet, it is possible to prove the originality of one of them. This is why the<strong> cost to mint<\/strong> such tokens can be inflated.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Crypto enthusiasts can also place their tokens on Polygon for free. There is no initial cost here when you create an NFT. However, there is a special service fee, which is deducted from the selling price of the token.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"680\" src=\"http:\/\/78.47.81.216\/wp-content\/uploads\/2023\/01\/image-9-1024x680.png\" alt=\"\" class=\"wp-image-777\" srcset=\"https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/01\/image-9-1024x680.png 1024w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/01\/image-9-300x199.png 300w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/01\/image-9-768x510.png 768w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/01\/image-9.png 1347w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Why are minting costs so volatile?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Different types of platforms have different processes, so they require different fees. Even if you use the same platform for different tokens, prices can also change. How <strong>much does it cost<\/strong> to create such tokens? You will encounter several things that can affect charges:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Transaction speed.<\/li>\n\n\n\n<li>Project quality.<\/li>\n\n\n\n<li>Data size.<\/li>\n\n\n\n<li>Gas fees.<\/li>\n\n\n\n<li>Minting time.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Transaction charges respond to supply and demand on the network. So, for example, when demand is high, all charges will be high.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, we told you how much it costs to create such tokens and what the cost depends on. Now you know what you need to consider when you&#8217;re going to mint NFT.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How much will the NFT mint cost you? Everything you wanted to know about the minting process and how it differs from buying. Can minting be free and why its price is so volatile?<\/p>\n","protected":false},"author":7,"featured_media":780,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[38,39],"authors":[37],"class_list":["post-776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-highlighted","tag-education","tag-nft","authors-alphaguilty"],"acf":{"reading_time":4},"author-name":"AG Content Manager","suggested-articles":[{"ID":1168,"post_author":"7","post_date":"2023-03-17 17:55:20","post_date_gmt":"2023-03-17 17:55:20","post_content":"<!-- wp:image {\"id\":1169,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http:\/\/78.47.81.216\/wp-content\/uploads\/2023\/03\/All-you-need-to-know-about-crypto-tax-1024x576.jpg\" alt=\"\" class=\"wp-image-1169\"\/><\/figure>\n<!-- \/wp:image -->\n\n<!-- wp:paragraph -->\n<p>In 2023, numerous countries achieved substantial advancements in the regulation of cryptocurrencies and altered their tax policies. Nowadays, interest in digital assets is growing among people outside of just crypto investors, making it important for particular countries to provide legal certainty for the industry. Additionally, there are more and more cryptocurrency transactions every day.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In order for you to become familiar with this subject, we will now outline all the data about taxes in crypto area. This is crucial because many individuals are interested in buying and selling digital assets to gain money, and cryptocurrency transactions may be performed for significant sums.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:image {\"id\":1170,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http:\/\/78.47.81.216\/wp-content\/uploads\/2023\/03\/image-22-1024x682.png\" alt=\"\" class=\"wp-image-1170\"\/><\/figure>\n<!-- \/wp:image -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What kind of taxes are levied on crypto?<\/h2>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Cryptocurrency taxes are now imposed on a variety of activities carried out by companies and people using crypto. It sparks in-depth conversations on more particular concerns including the requirement for a crypto exchange license, crypto taxation, and other crucial subjects. The circumstance is always changing. Following are some&nbsp;rules for taxing crypto:<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Taxation on capital gains. You can be liable for such taxes if you sell or trade USD or EUR. By calculating the cost basis\u2014the price paid at the time of purchase is subtracted from the sale price\u2014the gain or loss may be&nbsp;determined. Whether you've owned the asset for a short or long period of time before selling it may affect the tax rate for cryptocurrencies.\n<\/li>\n<!-- \/wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Mining. For the purpose of crypto taxation, whenever you obtain digital currency by mining, the worth of it at the moment of receiving is regarded as income. The cost of equipment and energy may potentially be deductible as mining-related expenses.<\/li>\n<!-- \/wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Coin spending. This implies that, depending on the market worth of the assets at the moment of the purchase, you would have to pay any relevant crypto taxes and disclose the cryptocurrency transactions on your tax return.<\/li>\n<!-- \/wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Airdrops. It is taxable revenue when you get an airdrop from a project as a part of a marketing campaign or giveaway. \nThe amount received must be reported on a tax return by investors.\n<\/li>\n<!-- \/wp:list-item -->\n\n<!-- wp:list-item -->\n<li><\/li>\n<!-- \/wp:list-item --><\/ul>\n<!-- \/wp:list -->\n\n<!-- wp:paragraph -->\n<p>Thus, it's crucial to be aware that each jurisdiction may have a different approach to cryptocurrency taxes. For this reason, it's essential to seek advice from an expert in the industry or a financial counselor in order to comprehend the implications of cryptocurrency transactions in your country.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Is paying crypto taxes required in your case?\n<\/h2>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Coins and tokens are therefore regarded as digital assets in the US and are often treated by the IRS in a manner similar to stocks or bonds. Cryptocurrency trades may result in profits that must be taxed as either capital gains or income. Taxes on crypto&nbsp;are also based on many elements, including how they were obtained&nbsp;and how long they were held.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It's crucial to examine the way you've used your digital asset to ascertain whether you will&nbsp;encounter a&nbsp;tax burden associated with it. Let's examine several scenarios in which&nbsp;investors are free from IRS obligations:<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>When you receive coins as a gift, it's commonly not taxable, so you don't have to pay tax on them until you decide to sell them.<\/li>\n<!-- \/wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You can be eligible for a charitable deduction on your tax return if you donate digital money directly to a recognized charity or nonprofit organization.\n<\/li>\n<!-- \/wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Cryptocurrency transfers made between your personal wallets or accounts are not subject to taxes.\n<\/li>\n<!-- \/wp:list-item -->\n\n<!-- wp:list-item -->\n<li>When you choose to sell assets in the future, you may keep track of your initial cost basis and purchase timestamp to assess any prospective crypto tax repercussions. The staking rewards you receive while you stake ETH and hold ETH2 are often not taxed since the protocol has not yet released them.\n<\/li>\n<!-- \/wp:list-item --><\/ul>\n<!-- \/wp:list -->\n\n<!-- wp:paragraph -->\n<p>It is not taxable when you buy tokens on a cryptocurrency exchange and retain them. To put it another way, the tax on crypto&nbsp;is often assessed after you sell them and realize the profit or loss.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How the amount of crypto tax is calculated?<\/h2>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For instance, crypto&nbsp;is regarded as property in the US, which implies that any profits or losses from cryptocurrency trading are taxable as capital gains. It should be made clear that the&nbsp;rate of such a tax&nbsp;is determined by the payer's&nbsp; level of&nbsp;income and the length of time the currency has been held.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Is there a way the crypto tax calculation procedure may be made simpler? A tool that aids in computing the tax obligations associated with cryptocurrency transactions is the \ncrypto tax calculator.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:image {\"id\":1171,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http:\/\/78.47.81.216\/wp-content\/uploads\/2023\/03\/image-23-1024x682.png\" alt=\"\" class=\"wp-image-1171\"\/><\/figure>\n<!-- \/wp:image -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Ways to declare crypto on a tax return.<\/h3>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You must notify the IRS of any earnings when you acquire or sell coins. It is simple to collect the essential data for your&nbsp;tax returns thanks to the exchanges that offer reports on&nbsp;transactions that cover all account activity. The process might be more difficult if you have&nbsp;transactions spread across numerous exchanges.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You may use&nbsp;tax software like CoinTracker or TokenTax to make the procedure of gathering info about your operations&nbsp;simpler. With the help of these&nbsp;apps, you may enter activity from all of your exchanges and produce a report. It's crucial to remember that such software could demand additional expenses. <\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The reporting tax year for digital currency is the same as it is for traditional assets. To prevent penalties, it's crucial to comprehend the tax year in a certain jurisdiction and complete your&nbsp;tax returns on time.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Summarizing the discussion about crypto taxes<\/h2>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You might face a fine if you deliberately or negligently disregard crypto tax laws or regulations. Interest will be added to the penalty if it is not paid on time. However, what if you realize that you&nbsp;are unable to pay them at the moment? You might, for instance, ask the IRS for a repayment plan to improve your situation.<\/p>\n<!-- \/wp:paragraph -->","post_title":"How much does crypto get taxed","post_excerpt":"Your guide to cryptocurrency taxes. Explaining Bitcoin and other crypto taxes. Do you have to pay taxes on digital assets? How much tax do you have to pay on the capital gains of cryptocurrencies?","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"how-much-does-crypto-get-taxed","to_ping":"","pinged":"","post_modified":"2023-05-04 10:51:15","post_modified_gmt":"2023-05-04 10:51:15","post_content_filtered":"","post_parent":0,"guid":"http:\/\/78.47.81.216\/?p=1168","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":494,"post_author":"7","post_date":"2022-11-18 12:16:40","post_date_gmt":"2022-11-18 12:16:40","post_content":"<!-- wp:image {\"id\":495,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http:\/\/78.47.81.216\/wp-content\/uploads\/2022\/11\/blog-2-1024x576.png\" alt=\"\" class=\"wp-image-495\"\/><\/figure>\n<!-- \/wp:image -->\n\n<!-- wp:paragraph -->\n<p id=\"750c\">Binance is the largest and the most popular crypto exchange nowadays. It is the whole world with its own cryptocurrency, blockchain, NFT martketplace and a large community of adepts worldwide.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"33fa\">Let\u2019s see how Binance\u2019s CEO, CZ, succeeded in building the leading exchange and making a difference in the world.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"5dee\"><strong>How it all began<\/strong><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"7af2\">The founder, Changpeng Zhao (CZ), launched Binance in July 2017 and led its rise to the world\u2019s top crypto exchange in just a half of year.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"eac3\">A Chinese-born immigrant in Canada, CZ came from humble beginnings, he even worked at McDonald\u2019s. After graduating with a computer science degree, CZ went into software development. In 2013, he learned about Bitcoin and decided to dedicate his life to it. CZ even sold his apartment to buy the cryptocurrency.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"49a1\">Having worked some time for a crypto wallet provider and a crypto marketplace, OKCoin, CZ ventured into building his own exchange. He finally launched Binance through a $15 million ICO.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"7994\"><strong>Why it became so popular<\/strong><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"16af\">The innovative decisions CZ took to build Binance allowed the platform to overcome its rivals. Till now it offers high volumes, low fees, and distinct advantages to users.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"1625\">This included the launch of a decentralized exchange called Binance DEX and the development of the BNB Smart Chain, along with the Binance Futures and Binance Coin (BNB) \u2014 which has become more than just a native token. To stay on trend, in June 2021 Binance presented its own NFT marketplace with lower minting fees for crypto artists.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"e83e\">Other important features CZ implemented into his exchange were AML (Anti-Money Laundering) and KYC (Know Your Customer) compliance. These verification procedures prevent scams and speculations, and their adoption raised the authority of Binance.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"9312\"><strong><em>CZ himself names the things which make Binance successful. They are:<\/em><\/strong><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"fcbd\">\u2014 Values<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"f7f5\">\u2014 Protecting Users<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"9455\">\u2014 Service<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"fd51\">\u2014 Product<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"1724\"><strong>Were there any pitfalls?<\/strong><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"c2b3\">Binance\u2019s way was not that easy for sure. At the start, CZ and his team faced challenges when the value of BNB sank below ICO price. But that was fixed with a decision to transform Binance into a more decentralized operation with a global workforce.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"0c6c\"><strong>Making a difference<\/strong><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"532e\">Binance remains the leading crypto exchange, but aims to become even something more in this world. It\u2019s interesting to see how the platform interacts and reacts not only to the challenges of the crypto industry, but also to the real-world events.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"cc85\">For example, Binance has set up the affiliate Binance.US to abide by financial regulations in the United States and stay in the legal field. Another great thing is that during the Russian-Ukrainian war, Binance allocated a $10M donation to help the Ukrainian refugees.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"b8ea\">CZ is definitely leading a socially responsible and community-friendly business, which deserves respect, and maybe even adoption of some of Binance\u2019s values.<\/p>\n<!-- \/wp:paragraph -->","post_title":"How Did Binance Change the Crypto Industry?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"how-did-binance-change-the-crypto-industry","to_ping":"","pinged":"","post_modified":"2022-12-19 09:38:12","post_modified_gmt":"2022-12-19 09:38:12","post_content_filtered":"","post_parent":0,"guid":"http:\/\/78.47.81.216\/?p=494","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1673,"post_author":"1","post_date":"2023-12-06 08:53:54","post_date_gmt":"2023-12-06 08:53:54","post_content":"<!-- wp:paragraph -->\n<p>\u041a\u0440\u0438\u043f\u0442\u043e\u0432\u0430\u043b\u044e\u0442\u0438 \u0441\u0442\u0430\u043b\u0438 \u0433\u0430\u0440\u044f\u0447\u043e\u044e \u0442\u0435\u043c\u043e\u044e \u0434\u043b\u044f \u0456\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u0456\u0432 \u043f\u043e \u0432\u0441\u044c\u043e\u043c\u0443 \u0441\u0432\u0456\u0442\u0443 \u0432 \u043e\u0441\u0442\u0430\u043d\u043d\u0456 \u0440\u043e\u043a\u0438. \u0412\u043e\u043d\u0438 \u043f\u0440\u043e\u043f\u043e\u043d\u0443\u044e\u0442\u044c \u043f\u043e\u0442\u0435\u043d\u0446\u0456\u0430\u043b \u0434\u043b\u044f \u0437\u0430\u0440\u043e\u0431\u0456\u0442\u043a\u0443 \u0442\u0430 \u0437\u0440\u043e\u0441\u0442\u0430\u043d\u043d\u044f \u043a\u0430\u043f\u0456\u0442\u0430\u043b\u0443, \u0430\u043b\u0435 \u0441\u0443\u043f\u0440\u043e\u0432\u043e\u0434\u0436\u0443\u044e\u0442\u044c\u0441\u044f \u0432\u0438\u0441\u043e\u043a\u0438\u043c\u0438 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\u043f\u043b\u0430\u0442\u0444\u043e\u0440\u043c\u0430\u0445 Crypto Quest. \u0414\u0435\u044f\u043a\u0456 \u0456\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u0438 \u0432\u0456\u0434\u0434\u0430\u044e\u0442\u044c \u043f\u0435\u0440\u0435\u0432\u0430\u0433\u0443 \u0434\u043e\u0432\u0433\u043e\u0441\u0442\u0440\u043e\u043a\u043e\u0432\u043e\u043c\u0443 \u0437\u0431\u0435\u0440\u0456\u0433\u0430\u043d\u043d\u044e \u0430\u043a\u0442\u0438\u0432\u0456\u0432, \u0456\u043d\u0448\u0456 - \u0430\u043a\u0442\u0438\u0432\u043d\u0456\u0439 \u0442\u043e\u0440\u0433\u0456\u0432\u043b\u0456 \u0442\u0430 \u043e\u0442\u0440\u0438\u043c\u0430\u043d\u043d\u044e \u043f\u0440\u0438\u0431\u0443\u0442\u043a\u0443 \u0437 \u043a\u043e\u0440\u043e\u0442\u043a\u043e\u0441\u0442\u0440\u043e\u043a\u043e\u0432\u0438\u0445 \u043a\u043e\u043b\u0438\u0432\u0430\u043d\u044c \u0446\u0456\u043d. \u0412\u0430\u0436\u043b\u0438\u0432\u043e \u043e\u0431\u0440\u0430\u0442\u0438 \u043f\u0456\u0434\u0445\u0456\u0434, \u044f\u043a\u0438\u0439 \u0432\u0456\u0434\u043f\u043e\u0432\u0456\u0434\u0430\u0454 \u0432\u0430\u0448\u043e\u043c\u0443 \u0441\u0442\u0438\u043b\u044e \u0442\u0430 \u0446\u0456\u043b\u044f\u043c.<\/p>","post_title":"\u041f\u043e\u0440\u0430\u0434\u0438 \u0449\u043e\u0434\u043e \u0456\u043d\u0432\u0435\u0441\u0442\u0443\u0432\u0430\u043d\u043d\u044f \u0443 \u043f\u043b\u0430\u0442\u0444\u043e\u0440\u043c\u0438 Crypto Quest","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"%d0%bf%d0%be%d1%80%d0%b0%d0%b4%d0%b8-%d1%89%d0%be%d0%b4%d0%be-%d1%96%d0%bd%d0%b2%d0%b5%d1%81%d1%82%d1%83%d0%b2%d0%b0%d0%bd%d0%bd%d1%8f-%d1%83-%d0%bf%d0%bb%d0%b0%d1%82%d1%84%d0%be%d1%80%d0%bc%d0%b8-cry","to_ping":"","pinged":"","post_modified":"2023-12-06 09:17:05","post_modified_gmt":"2023-12-06 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