{"id":943,"date":"2023-02-15T12:56:28","date_gmt":"2023-02-15T12:56:28","guid":{"rendered":"http:\/\/78.47.81.216\/?p=943"},"modified":"2023-02-28T13:45:51","modified_gmt":"2023-02-28T13:45:51","slug":"how-to-convert-crypto-to-cash","status":"publish","type":"post","link":"https:\/\/blog.ag.qubiq.cc\/?p=943","title":{"rendered":"How to convert crypto to cash"},"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\/02\/How-to-convert-crypto-to-cash-1024x576.jpg\" alt=\"\" class=\"wp-image-946\" srcset=\"https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/02\/How-to-convert-crypto-to-cash-1024x576.jpg 1024w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/02\/How-to-convert-crypto-to-cash-300x169.jpg 300w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/02\/How-to-convert-crypto-to-cash-768x432.jpg 768w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/02\/How-to-convert-crypto-to-cash.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Many <strong><a href=\"https:\/\/blog.alphaguilty.io\/what-is-a-cryptocurrency-and-how-does-it-work\">crypto<\/a> <\/strong>owners wonder how to <strong>turn <\/strong>cryptocurrency into cash. It would seem to sound absurd. After all, <strong>crypto <\/strong>is precisely created to give up fiat. Nevertheless, this asset is not yet a full-fledged means of payment in most countries. Also, the high volatility of <strong>crypto <\/strong>leads many people to look for <strong>ways to convert<\/strong> digital assets into <strong>cash <\/strong>to avoid losses. So, one way or another, we need to find a way to<strong> convert your cryptocurrency into cash<\/strong> safely.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Now we will tell you how you can <strong>exchange cryptocurrency <\/strong>for <strong>cash<\/strong>. We will consider all possible ways to <strong>cash out your crypto<\/strong> and assess the risks so that you can choose the safest option. If you need to <strong>exchange cryptocurrency <\/strong>for <strong>cash<\/strong>, then finish this material to the end. We&#8217;ll also look at ways to <strong>exchange <\/strong><a href=\"https:\/\/blog.alphaguilty.io\/ultimate-nft-guide-all-you-need-to-know-about-nft\">NFT<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"http:\/\/78.47.81.216\/wp-content\/uploads\/2023\/02\/image-12-1024x682.png\" alt=\"\" class=\"wp-image-945\" srcset=\"https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/02\/image-12-1024x682.png 1024w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/02\/image-12-300x200.png 300w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/02\/image-12-768x512.png 768w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/02\/image-12-1536x1023.png 1536w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/02\/image-12.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">How to <strong>convert <\/strong>your <strong>crypto <\/strong>into <strong>cash<\/strong>?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">There are several methods to <strong>cash out your <a href=\"https:\/\/blog.alphaguilty.io\/what-is-a-cryptocurrency-and-how-does-it-work\">crypto<\/a> <\/strong>without risks. Everyone chooses the most convenient option, based on its reliability, speed, and benefits. The main thing is to carefully analyze the available <strong>exchange <\/strong>platforms.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Crypto exchanges<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This is the easiest way to <strong>exchange cryptocurrency <\/strong>for fiat. You can order <strong>transfers <\/strong>of funds on <strong>exchange <\/strong>at any time by choosing a suitable option. Large <strong>crypto exchanges <\/strong>have a great number of <strong>cryptocurrencies <\/strong>in circulation. So there are no problems even with the <strong>exchange <\/strong>of large amounts. The advantages of this method to <strong>convert crypto <\/strong>into <strong>cash<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A much larger selection of <strong>exchange <\/strong>pairs.<\/li>\n\n\n\n<li>Flexible adjustment of payment methods filter.<\/li>\n\n\n\n<li>Verification depends on the <strong>exchange <\/strong>you select.<\/li>\n\n\n\n<li>Less chance to run into scammers.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The only disadvantage is the high commissions for <strong>crypto transactions<\/strong>, that <strong>crypto exchanges<\/strong> can set for withdrawal.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>P2P exchanges<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Some services allow decentralized <strong>exchange <\/strong>directly between users, one of which wants to <strong>convert cash <\/strong>for <strong>cryptocurrency<\/strong>, and the other vice versa. The absence of an intermediary in <strong>P2P exchange<\/strong> is both a plus and a significant disadvantage. The advantage is the ability to set the terms of the <strong>exchange <\/strong>independently, while this <strong>transfer <\/strong>option involves increased risk.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Crypto <\/strong>ATM<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">An ATM is equipment that allows customers to perform simple operations without the help of a bank representative. But how does an ATM help you <strong>convert <\/strong>coins into <strong>cash<\/strong>? Essentially, an ATM enables you to do almost everything you can make in a physical branch.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, except for taking out a loan, investing, or paying certain bills, you can use an ATM for most operations, including withdrawals and deposits. A <strong><a href=\"https:\/\/blog.alphaguilty.io\/what-is-a-cryptocurrency-and-how-does-it-work\">crypto<\/a> <\/strong>ATM works the same way, except that it handles both fiat and digital currencies, making it a hybrid machine.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Online exchangers<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">These are convenient, accessible 24\/7 services, to make a <strong>transfer <\/strong>to fiat currency. To <strong>convert Bitcoin to cash<\/strong>, and withdraw <strong>crypto <\/strong>to your card, you only need to perform a couple of simple steps. The pros are obvious, but there are also significant disadvantages:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Lack of guarantees directly from the service.<\/li>\n\n\n\n<li>It is not always possible to find an exchanger for your bank.<\/li>\n\n\n\n<li>It is also possible to run into fraudsters.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Nevertheless, it is necessary to choose the services carefully, to avoid falling for the tricks of fraudsters. Be sure to read the reviews before you are going to <strong>convert <\/strong>coins or tokens to <strong>cash <\/strong>in the online exchanger.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Brokerage services<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you keep your crypto assets with a broker, then just contact them. In this case, choose one of the best options to <strong>spend your crypto<\/strong> for <strong>cash<\/strong>. If you are a client of large brokers (for instance, Webull or Robinhood), the simplest option to <strong>convert crypto <\/strong>to <strong>cash <\/strong>is to use their platform. That way you can quickly <strong>convert crypto<\/strong> and get money in your account, then continue trading again.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How do you <strong>convert <\/strong>an NFT to <strong>cash<\/strong>?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">It&#8217;s very simple because NFTs are also digital assets, so you can <strong>transfer <\/strong>these tokens into <strong>cash<\/strong>. So, how can you <strong>turn <\/strong>NFTs into real money? There are several steps to follow:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>First, you have to sell the <a href=\"https:\/\/blog.alphaguilty.io\/ultimate-nft-guide-all-you-need-to-know-about-nft\">NFT<\/a>, usually for ETH.\u00a0<\/li>\n\n\n\n<li>Next, you will need to send digital assets to your wallet, just don&#8217;t forget the commission.<\/li>\n\n\n\n<li>Send the digital money in your wallet to your exchange account.<\/li>\n\n\n\n<li>Once the <strong>crypto <\/strong>gets into such an account, you can <strong>turn <\/strong>it into various fiat.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">In the last step, you can use any of the above methods to <strong>turn <\/strong><a href=\"https:\/\/blog.alphaguilty.io\/ultimate-nft-guide-all-you-need-to-know-about-nft\">NFT<\/a>s into <strong>cash<\/strong>. The most important thing is to research feedback and commissions to use only reliable <strong>exchange <\/strong>services and avoid scammers. This is the only way you can safely <strong>convert crypto<\/strong> into real money.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"http:\/\/78.47.81.216\/wp-content\/uploads\/2023\/02\/image-11-1024x683.png\" alt=\"\" class=\"wp-image-944\" srcset=\"https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/02\/image-11-1024x683.png 1024w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/02\/image-11-300x200.png 300w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/02\/image-11-768x512.png 768w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/02\/image-11-1536x1024.png 1536w, https:\/\/blog.ag.qubiq.cc\/wp-content\/uploads\/2023\/02\/image-11.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">How long does it take to see the withdrawn funds in my bank account?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">When you&#8217;re going to <strong>spend your crypto<\/strong> for <strong>cash<\/strong>, you should be concerned about the timing of withdrawals. It usually varies on several things, including the time the request was made and the institution receiving your money. In most cases, withdrawals take 1 to 3 business days before you see the money in your account.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> Is it possible to convert crypto or NFT to cash and how to do it? How difficult is it to turn cryptocurrency into fiat? How long do you have to wait before the money appears in the bank account?<\/p>\n","protected":false},"author":7,"featured_media":946,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[40,56,38],"authors":[37],"class_list":["post-943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-highlighted","tag-alphaguilty","tag-cryptocurrency","tag-education","authors-alphaguilty"],"acf":{"reading_time":10},"author-name":"AG Content Manager","suggested-articles":[{"ID":391,"post_author":"7","post_date":"2022-11-14 14:30:46","post_date_gmt":"2022-11-14 14:30:46","post_content":"<!-- wp:paragraph -->\n<p id=\"6440\">We decided to make this post for those of our subscribers who are just starting with crypto. Adepts, let\u2019s check if you can recall all these terms! \ud83d\ude3c<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:image {\"id\":392,\"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-22-1024x571.png\" alt=\"\" class=\"wp-image-392\"\/><\/figure>\n<!-- \/wp:image -->\n\n<!-- wp:paragraph -->\n<p id=\"9df9\">TOP 10 necessary crypto terms:<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"c13f\">\ud83c\udf81 Airdrop<br>The distribution of free crypto tokens to promote a new project or encourage community adoption.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"6087\">\ud83d\udcc9 Bear market<br>A prolonged period of falling prices.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"0d58\">\ud83d\udcc8 Bull market<br>A prolonged period of rising prices.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"bf71\">\ud83d\udcf2 dapps<br>Short for \u201cdecentralized applications.\u201d Autonomous apps that operate on distributed networks smart contracts.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"1b18\">\ud83c\udf10 DeFi<br>Short for \u201cdecentralized finance,\u201d a collective term for all finance-based dapps created on public blockchains.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"0ad1\">\ud83d\udca8 Gas<br>The ether that must be spent as a fee in order to execute a transaction or contract on the Ethereum network.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"0a83\">\ud83d\udcbb Mining<br>The process of using computer equipment to verify and add new data to a blockchain ledger, as well as add new coins into circulation.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"adc6\">\ud83d\udcd1 Smart contract<br>A special type of computer program that automatically executes a transaction whenever a predetermined input is received.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"a210\">\u23f3 Liquidity<br>A term for describing how easily an asset can be bought or sold at any given price, volume and time.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"dd39\">\ud83d\udcb8 Volatility<br>A word used to describe how much the price of a crypto token deviates from the average over a given period.<\/p>\n<!-- \/wp:paragraph -->","post_title":"Crypto Terms and Crypto Glossary for Beginners","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-terms-and-crypto-glossary-for-beginners","to_ping":"","pinged":"","post_modified":"2022-12-19 09:43:21","post_modified_gmt":"2022-12-19 09:43:21","post_content_filtered":"","post_parent":0,"guid":"http:\/\/78.47.81.216\/?p=391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":587,"post_author":"7","post_date":"2022-11-24 15:33:23","post_date_gmt":"2022-11-24 15:33:23","post_content":"<!-- wp:image {\"id\":595,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http:\/\/78.47.81.216\/wp-content\/uploads\/2022\/11\/Case-study_-Why-is-Ethereum-used-for-NFTs_-1-1024x576.jpg\" alt=\"\" class=\"wp-image-595\"\/><\/figure>\n<!-- \/wp:image -->\n\n<!-- wp:paragraph -->\n<p>Looking through dozens of NFT collections on NFT marketplaces, you may have noticed that most of them are Ethereum-based. Why so? Let\u2019s try to figure it out.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>How it all started<\/strong><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Ethereum network was the first to support NFTs with its ERC-721 standard, which means the first real NFT artworks were born on its blockchain.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In October 2015, the first NFT project called Etheria was launched at Ethereum's developer conference in London. Etheria included 457 tradable, non-fungible tiles. They remained unsold for five years until March 2021, when interest in NFTs sparked a buying frenzy. Eventually, Etheria NFTs were sold out for a total of $1.4 million.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Then, more and more Ethereum-based collections started to appear in the NFT world, with Crypto Punks and Bored Apes on the top of the list.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Why do NFT creators choose Ethereum?<\/strong><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Ethereum\u2019s blockchain is currently the most widely used, leading among other blockchain networks. As a result, creators can sell their NFTs for a substantially higher price and find more buyers, compared to other platforms.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The reason is not only Ethereum\u2019s worldwide popularity, but also its highly-secure network and data architecture. Bulk of NFT projects are running on ERC-721 coins, a standard developed by Ethereum.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In addition, by minting your NFTs on Ethereum the blockchain, you get wider access to the market, since virtually all crypto wallets and NFT marketplaces support (or are built on) Ethereum network.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>How many NFTs are on Ethereum?<\/strong><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>There are more than 80,000 NFT collections on the Ethereum blockchain, and this number is constantly growing. Also, nearly 5% of all Ethereum addresses hold one or more NFTs.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Are there any disadvantages?<\/strong><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Of course, such popularity has its price. High volume of network traffic inside the Ethereum network causes a significant transaction backlog. It leads to a tangible increase in transaction and, sometimes, minting fees. That\u2019s why today Ethereum is not the best blockchain for beginning NFT artists.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, to list an NFT on the most renowned Ethereum-based marketplace, OpenSea, will cost you at least 0.2 ETH. You also have to pay fee when someone buys your digital art.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Other blockchains<\/strong><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Because of the Ethereum blockchain's limitations, NFT artists are turning to other solutions. Among them \u2014 Solana blockchain and BNB Smart Chain by Binance.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It\u2019s worth noting that Solana-based NFTs are getting more attention and recognition in the industry. The network is often called \u2018Ethereum-killer,\u2019 and here we explained it if really is.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>All in all, transactions on Solana usually cost less than a dollar, so many NFT projects and collectors have migrated to its blockchain for scalability and cheap fees.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>So\u2026<\/strong><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Even with its limitations, there\u2019s no doubt that Ethereum is the largest ecosystem for NFT, and the majority of the investors are looking to buy Ethereum-based digital arts.&nbsp;<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Ethereum takes the lead with a much bigger trading volume than Solana or BNB Chain. On the other hand, there\u2019s also a huge supply of low-rated NFTs that no investor would like to buy.<\/p>\n<!-- \/wp:paragraph -->","post_title":"Case study: Why is Ethereum used for NFTs?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"case-study-why-is-ethereum-used-for-nfts","to_ping":"","pinged":"","post_modified":"2022-12-19 09:32:10","post_modified_gmt":"2022-12-19 09:32:10","post_content_filtered":"","post_parent":0,"guid":"http:\/\/78.47.81.216\/?p=587","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":329,"post_author":"7","post_date":"2022-11-14 13:27:45","post_date_gmt":"2022-11-14 13:27:45","post_content":"<!-- wp:image {\"id\":330,\"width\":600,\"height\":338,\"sizeSlug\":\"full\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-full is-resized\"><img src=\"http:\/\/78.47.81.216\/wp-content\/uploads\/2022\/11\/Blog-12.jpeg\" alt=\"\" class=\"wp-image-330\" width=\"600\" height=\"338\"\/><\/figure>\n<!-- \/wp:image -->\n\n<!-- wp:paragraph -->\n<p id=\"800a\"><strong>What happened to one of the most significant projects in crypto?<\/strong><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"92eb\">TerraUSD (UST), a stablecoin that has been designed to have a price of $1, has lost its dollar peg for the second time in three days, falling to as low as $0.65 on Monday, the 9th of May, 2020. The price of LUNA, the native coin of a blockchain for UST, has dropped over 44% to $24 at the same time.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"d517\"><strong>How does UST work?<\/strong><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"fbe7\">You can exchange LUNA for UST dollar-to-dollar and vice versa, meaning that if LUNA is at $100, you can redeem it for 100 UST. As a rule, you can take 1 UST for $1 worth of LUNA, even if UST is worth less than $1. If UST is trading at $0.99, arbitrageurs can buy it and redeem it for $1 of LUNA. Traders seeking to profit from arbitrage opportunities regularly swap UST for Luna and back, thus ensuring the price stays close to $1.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"ce77\"><strong>How were the algorithms compromised?<\/strong><\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"d36b\">Another stability factor of UST stablecoin is&nbsp;<a href=\"https:\/\/www.app-achnorpratocol.com\/\" rel=\"noreferrer noopener\" target=\"_blank\">Anchor Protocol<\/a>, which offered above-market interest rates of 20% on UST deposits on Terra\u2019s blockchain, while competitors could give only around 0.4%-1%. That created a significant demand for the UST token as well.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"2151\">However, those algorithms and the logic behind them were compromised.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"bf3d\">The founder of Terra Do Kwon has&nbsp;<a href=\"https:\/\/twitter.com\/CaetanoManfrini\/status\/1523145923571814400\" rel=\"noreferrer noopener\" target=\"_blank\">retweeted<\/a>, \u201c<em>today\u2019s attack on Terra-Luna-UST was deliberate and coordinated. Massive 285m UST dump on Curve and Binance by a single player followed by massive shorts on Luna and hundreds of Twitter posts. Pure staging. The project is bothering someone. on the right path!<\/em>\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"b152\"><a href=\"https:\/\/lfg.org\/\" rel=\"noreferrer noopener\" target=\"_blank\">Luna Foundation Guard (LFG)<\/a>, a nonprofit organization aiming to maintain and develop the Terra ecosystem, took over the damage control to mitigate further losses to the maximum extent and bring the stablecoin back to $1. Since the value of LUNA and the UST peg itself have been volatile, yesterday, LFG floated a total of $1.5 billion worth of Bitcoin to add much-needed liquidity to the ecosystem. LFG has also made loans to several trading companies to protect the UST peg. However, it is not known whether Bitcoin can prove to be completely stable support for a UST stablecoin.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"0c96\">Terra also exacerbated a more profound market decline by using its Bitcoin reserves to protect the dollar peg. Earlier today, the world\u2019s largest cryptocurrency fell to a new yearly low of $29,731. Other participants in the Terra ecosystem have expressed confidence that UST will restore the peg shortly. Tron founder, Justin Su, tweeted that he was buying UST. This week, Tron also launched a stablecoin based on a similar mechanism called USDD.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"252e\">Jose Mar\u00eda Macedo, a member of the LFG Governing Council, stressed in a conversation with CoinDesk that there would be enough reserve funds to restore a stable UST price. However,&nbsp;<a href=\"https:\/\/twitter.com\/Galois_Capital\/status\/1523589033137422337\" rel=\"noreferrer noopener\" target=\"_blank\">critics<\/a>&nbsp;of the organization believe that it has only \u201cbought another day of time.\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"e737\">The day was epic in the crypto world. Let\u2019s see how this one will be turned out.<\/p>\n<!-- \/wp:paragraph -->","post_title":"Luna case: UST loses its peg","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"luna-case-ust-loses-its-peg","to_ping":"","pinged":"","post_modified":"2022-12-19 09:44:44","post_modified_gmt":"2022-12-19 09:44:44","post_content_filtered":"","post_parent":0,"guid":"http:\/\/78.47.81.216\/?p=329","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"likes":"1","lang":"en","translations":{"en":943,"ru":1492},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/blog.ag.qubiq.cc\/index.php?rest_route=\/wp\/v2\/posts\/943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.ag.qubiq.cc\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.ag.qubiq.cc\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.ag.qubiq.cc\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.ag.qubiq.cc\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=943"}],"version-history":[{"count":3,"href":"https:\/\/blog.ag.qubiq.cc\/index.php?rest_route=\/wp\/v2\/posts\/943\/revisions"}],"predecessor-version":[{"id":1023,"href":"https:\/\/blog.ag.qubiq.cc\/index.php?rest_route=\/wp\/v2\/posts\/943\/revisions\/1023"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.ag.qubiq.cc\/index.php?rest_route=\/wp\/v2\/media\/946"}],"wp:attachment":[{"href":"https:\/\/blog.ag.qubiq.cc\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.ag.qubiq.cc\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.ag.qubiq.cc\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=943"},{"taxonomy":"authors","embeddable":true,"href":"https:\/\/blog.ag.qubiq.cc\/index.php?rest_route=%2Fwp%2Fv2%2Fauthors&post=943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}