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🧠 Useful posts for the day: Daily Cryptocurrency Market Review (Read more➡️) U.S. Lawmakers Challenge Crypto Banking Blacklist (Read more➡️) MetaMask Introduces 'Gas Station' Feature for Token-Based Fee Payments (Read more➡️) Hardware Wallet: Pros and Cons (Read more➡️) CryptoFam #Crypto #cryptofam

Hardware Wallet: Pros and Cons A hardware wallet is a device designed for the secure offline storage of cryptocurrency keys. It protects funds from hacker attacks, viruses, and phishing sites but has its own features that should be considered before purchasing. Pros: 🔵 High Level of Security The wallet stores private keys on a device isolated from the internet, protecting them from cyberattacks and hacks. 🔵 Protection from Viruses and Malware Even if a computer is infected with viruses, a hardware wallet does not transmit private keys and prevents hackers from accessing funds. 🔵 Support for Multiple Cryptocurrencies Modern wallets (Ledger, Trezor, KeepKey) support dozens or even hundreds of different cryptocurrencies, making them convenient for asset diversification. 🔵 Two-Factor Authentication To confirm transactions, a physical button press on the device is required, preventing unauthorized withdrawals. 🔵 Long-Term Storage Hardware wallets are ideal for storing cryptocurrencies for years without the risk of losing access due to exchange hacks or online wallet failures. Cons: 🔴 Price Hardware wallets range from $50 to $200, which can be costly for small investors. 🔴 Risk of Losing the Device If the wallet is lost or damaged, and backup phrases (seed phrase) are not saved, access to funds cannot be restored. 🔴 Inconvenience for Frequent Transactions Each operation must be confirmed manually, which may be inconvenient for traders who make multiple transactions per day. 🔴 Limited Access The wallet requires connection to a computer or phone, making it less convenient compared to mobile wallets. CryptoFam #Crypto #cryptofam

MetaMask Introduces 'Gas Station' Feature for Token-Based Fee Payments MetaMask has launched a new 'Gas Station' feature, enabling users to pay transaction fees with various Ethereum-based tokens instead of solely ETH. Initially, supported tokens include USDT, USDC, DAI, WETH, WBTC, wstETH, and WSOL, with plans to expand this list in the future. This enhancement aims to provide greater flexibility for users during token and stablecoin swaps. CryptoFam #Crypto #cryptofam

U.S. Lawmakers Challenge Crypto Banking Blacklist U.S. lawmakers are intensifying efforts to dismantle "Operation Chokepoint 2.0," aiming to end regulatory overreach and restore fair banking access for cryptocurrency businesses. The initiative seeks to prevent financial institutions from unjustly denying services to crypto-related companies. This move comes amid growing concerns that certain regulatory practices have unfairly targeted the crypto industry, hindering its integration into the traditional financial system. Lawmakers emphasize the importance of ensuring that legal businesses have equal access to banking services without undue discrimination. CryptoFam #Crypto #cryptofam

Daily Cryptocurrency Market Overview The market is showing a decline. BTC dropped to $97,404.09 (-0.68%). ETH increased to $2,808.06 (+3.08%). 🟢 Gaining Assets: ETH: $2,808.06 (+3.08%), BNB: $576.655 (+0.19%), TON: $3.8373 (+0.32%), HYPE: $25.5356 (+0.23%), LEO: $9.8601 (+1.75%). 🔴 Losing Assets: XRP: $2.4267 (-3.21%), SOL: $200.796 (-3.19%), ADA: $0.75027 (-0.63%), AVAX: $26.1808 (-1.94%), DOGE: $0.260144 (-1.52%), XLM: $0.334467 (-2.35%), LINK: $19.5269 (-2.36%), SUI: $3.3727 (-7.72%). CryptoFam #Crypto #cryptofam

🧠 Useful posts for the day: Daily Cryptocurrency Market Review (Read more➡️) DeepSeek's AI Breakthrough Shakes Global Tech Industry (Read more➡️) Crypto Project Berachain Announces Mainnet and Token Launch on February 6 (Read more➡️) Fork: What It Is and Why It Is Needed (Read more➡️) CryptoFam #Crypto #cryptofam

Fork: What It Is and Why It Is Needed A fork is a division of a blockchain into two or more chains, which occurs when changes are made to its code. As a result, new cryptocurrencies may emerge, or existing networks may be updated. Types of Forks 🔵 Hard Fork This is a fundamental change in the network rules that is incompatible with the previous version of the blockchain. As a result, two independent networks are created. Examples: Bitcoin Cash (BCH) and Ethereum Classic (ETC), which emerged after the split of Bitcoin and Ethereum. 🔵 Soft Fork This is a blockchain update that does not break the network but introduces new rules. Older nodes can continue to operate, but newer versions receive enhanced functionality. Example: the SegWit update in Bitcoin. Why Are Forks Needed? — Bug Fixing – Eliminating vulnerabilities or deficiencies in the blockchain. — Scalability Improvement – Increasing the speed and efficiency of the network. — Community Disagreements – If developers or users cannot reach a consensus, a new blockchain may emerge. — Creation of New Cryptocurrencies – Forks can use the code of successful projects to launch their own networks. CryptoFam #Crypto #cryptofam

Crypto Project Berachain Announces Mainnet and Token Launch on February 6 The project started as an NFT collection, around which a large community formed, eventually attracting the attention of venture investors. In April 2024, Berachain raised $100 million in a funding round led by Brevan Howard Digital and Framework Ventures, reaching a valuation of $1.5 billion. The launch of the Berachain token will coincide with the deployment of the mainnet. The developers have promised to release details on tokenomics and the airdrop checker on February 5. CryptoFam #Crypto #cryptofam

DeepSeek's AI Breakthrough Shakes Global Tech Industry Chinese AI startup DeepSeek has unveiled its R1 model, achieving performance comparable to leading U.S. AI systems at a fraction of the cost. This development has led to significant disruptions in global tech markets, including a substantial decline in major U.S. tech stocks. The U.S. Navy has responded by banning the use of DeepSeek's AI app among its personnel, citing security concerns. Industry experts are now debating the implications of China's rapid advancements in artificial intelligence. CryptoFam #Crypto #cryptofam

Daily Cryptocurrency Market Overview The market is showing a decline. BTC dropped to $98,117.76 (-2.66%). ETH fell to $2,728.41 (-2.69%). 🟢 Gaining Assets: SUI: $3.6598 (+2.58%), HYPE: $25.6225 (+2.37%). 🔴 Losing Assets: XRP: $2.5082 (-7.47%), SOL: $207.597 (-3.56%), ADA: $0.755518 (-4.48%), BNB: $575.634 (-4.36%), DOGE: $0.264279 (-5.95%), AVAX: $26.7249 (-3.72%), XLM: $0.342571 (-5.64%), LINK: $20.0108 (-4.07%). CryptoFam #Crypto #cryptofam