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What You Need To Know About Cred Crypto Loans

Former PayPal financial technology veterans are the founders of Cred, a decentralised global lending platform that provides open access to credit anytime and anywhere. Cred is also a global company with branches in San Francisco Singapore, Munich, Sydney and Shanghai.

Cred boasts over $300 million in crypto-backed lending capital. This is four times larger than other major lending crypto platforms. The company aims to harness blockchain technology to enable users to enjoy low-cost credit products.

Another feather in its cap is that the company is a founding member of the UP Alliance. Along with Brave, Uphold and Blockchain, UP Alliance launched the Universal Dollar to help decentralised ledger technology achieve mainstream adoption.

Cred Crypto Loan

Some of the largest investors in crypto and tech such as 500 Startups, Arrington XRP Capital, Blocktower, FBG Capital, and Binance Labs are the main backers’ of Cred. Cred developed LBA utility token to access Cred platform services which include crypto-to-crypto lending.

The Cred LBA token is available in more than 180 countries including the UK and US. The token is also available in exchanges such as Bibox, IDEX, Huobi, OKEX, Bilaxy, and

There’re several reasons why you should get crypto-backed loans. Below are six reasons why you should consider crypto-line-of-credit (C-LOC):

1) Credit history – Your creditworthiness with crypto-backed loans is not calculated on your lack of credit history or bankruptcy. It’s based on your crypto collateral.

2) Convenient – Conventional loans take longer to process before the loans can deliver. Cred’s loan application process is fast, simple and easy allowing you to get the crypto line of credit when you need it.

3) Competitive interest rates – Crypto-based lending offers the same access to credit and low-interest rates anywhere in the world. This is unlike unsecured conventional loans which vary according to region.

4) Create a budget – How much can you afford? Financial budgeting tools such as Acorns or Mint can help you manage expenses as well as monitor spending and saving habits. Having a budget will help you determine how much money you need to borrow and if you’ll be able to pay back your Cred loan with ease.

5) Spend and invest – A Cred crypto-based loan allows you to take advantage of your crypto assets without losing out on the potential of your investment. This means you can invest in the future while you spend money today.

6) Financial status – Most conventional financing requires traditional forms of collateral assets such as property and stocks. Crypto-backed lending can be a practical alternative if you lack sufficient collateral to qualify for traditional loans.

Cred is working to build an ecosystem that will change the personal finance industry for consumers around the world. The company plans to achieve this by leveraging blockchain technology and digitisation.

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What is NKN?

NKN (New Kind of Network) is a decentralised data transmission network powered by Cellular Automata. Incentivised by blockchain, the open-source group plans to change the design of the internet by improving security and ensure network neutrality.

Cellular Automata will operate the same way as Filecoin and IPFS but in the network domain. This means you’ll receive a token reward based on your data transmission capacity, instead of your storage space as is common with IPFS. But despite NKN’s ambitious goals and the relative infancy of the project, its support team is a group of talented individuals.

How Does NKN Token Blockchain Internet Work?

NKN wants to create a contemporary enhanced version of the internet. It will build the new version on blockchain technology with the aim of creating an internet that is decentralised, safe, active, shared, and owned by the community. This innovation is a decentralised data transmission network (DDTN). The extensive network of independent nodes will transmit data, acting as cellular automata which will change state based on a combination of received inputs and the state of its neighbors.

The team at NKN believes blockchain technology has already revolutionised two “pillars” of internet technology, including computing power (with bitcoin and Ethereum proof of work systems), and storage (with systems such as IPFS and Filecoin). NKN now wants the network infrastructure to run on blockchain.

NKN’s dense whitepaper mentions that the service will simplify the creation of dapps (decentralised applications) due to its low intermission, large bandwidth, and high scalability. But unless the group releases an API, it’s not clear how developers will use it. The company claims it will “tokenise” the network, encouraging users to share their bandwidth in exchange for currency.

NKN Service Analysis

Though relatively young, the NKN platform is planning to release a beta version of its network in the first quarter of 2019, and a full version in the third quarter. But as of March 2019, it’s not crystal clear what the company will release to end users. Currently, NKN seems more focused on creating back-end solutions that developers or service providers can use.

On the group’s Twitter page is a small internet service provider called Speedy Net. It offers fast broadband to rural areas as an early adopter of the technology. NKN claims the provider is based in the American Midwest, but a quick internet search yields result for a tiny British company. Though no information is available for this company, it’s encouraging to see interest in applying the technology.

Bottom Line

There’re many groups working with blockchain claiming to have created an innovative product. But most are using jargon to advance a rehashed and often ineffective product.
NKN is the opposite as they’re developing an amazing product. However, they need to improve their marketing to better explain it to the public. Computer scientists seem to have written the scholarly publications, but a robust public relations initiative could attract more investment and early adopters. Nevertheless, chances are high NKN’s technology could become universal in the future.

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Uphold Review: What Is It and How Does It Work

Although there are many cryptocurrency exchanges that are active within the crypto market, few are reliable and completely trustworthy. Exchanges such as Uphold have carved a niche at the top of the crypto food chain. This down to several unique features, transparency, attractive fee systems, and different noteworthy security features.

What is Uphold?

Uphold is a cloud-based platform with several functionalities including trading in cryptocurrencies and, offering a cloud-based digital wallet for storage. It offers services in over 184 countries, across 30-plus currencies’ (fiat and crypto), commodities with frictionless foreign exchange, and cross-border remittance for members around the world. Since its debut in 2015, Uphold has powered over $3 billion in transactions.

The Uphold platform combines an app model with payment connectivity to offer financial services to a global market. The platform empowers innovation in financial services by allowing app developers, and fintech partners to leverage the reach of Uphold through licensed relationships with banks and financial institutions around the world.

Uphold Core Features

Uphold allows members to convert, transact money assets, and secure storage. It currently supports popular cryptocurrencies including Bitcoin, Bitcoin Cash, Bitcoin Gold, Litecoin, Ethereum, Ripple, Dash, and Basic Attention Token. Members can exchange over 20 fiat currencies as well as four precious metals.

Uphold acts as a virtual wallet for its members as you can use the wallet to store both cryptocurrencies and fiat money. This feature alone makes Uphold more appealing than other exchanges as few offer such as complete package.

Uphold members get support for MasterCard and Visa. Members can send both crypto and fiat from one uphold member to another without limitations, and at no extra charge.

It’s worth noting that unlike other crypto exchanges and typical financial institutions, uphold stands out as a real-time transparent and verifiable service. This means anyone interested in viewing operations such as assets, transaction volumes, solvency, and other features can do so.

As part of its transparency features, Uphold boasts Reserve ledgers and Reserve chains. Reserve ledgers is a public record with all the exchanges made to Uphold assets. The latter is a real-time public record of all member transactions on the platform.

The main drawback is that Uphold is not an anonymous exchange, fees are on the higher side and it doesn’t have a 24/7 customer support service which relies on a ticket system.

How Does Uphold Work?

Registration on Uphold is free. Users enjoy various privileges including converting, transacting, transferring, storing, and withdrawing fiat and cryptocurrencies. In regards to cryptocurrencies, you can buy and sell all supported coins.

To access this feature, you have to qualify as a “verified member”. The verification process requires a member to submit several details. They include the date of birth, an active mobile number (to act as two-factor authentication), place of residence, ID passport or driver’s license details, and a clear passport photo.

The simple and straightforward exchange process even allows members to fund from a debit card. But you must first add funds in a traditional currency such as USD before transferring to the cryptocurrency of choice. Sending and receiving funds from one member to another is free. For currency conversions, variable mid-market exchange rates take precedence.

There’s no doubt Uphold stands out from other exchanges with its comprehensive services. It boasts one of the most versatile exchange platforms which acts as a wallet service, catering for the needs of almost every member. Furthermore, it’s one of the few regulated exchanges and their website is innovative and easy to understand.

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Cred Launches Secure Easy-To-Use Cryptocurrency

If you have enough balance in your crypto wallet but lack a healthy traditional credit history, it may be impossible to get a loan from a conventional lender. Thanks to blockchain technology, there are new lenders who assist crypto enthusiasts use their crypto assets as collateral to access finance. One of these lenders is Cred. Formerly Libra Credit, Cred offers fiat and cryptocurrency loans backed by digital currency and aims to provide access to credit anywhere, anytime.

What is Cred?

Cred is the brainchild of ex-PayPal executives Lu Hua and Dan Schatt. It made its debut in 2017 with the aim of providing “credit for the real world”. Its token sale in 2018 raised over $26 million in funding. A desktop platform for crypto-to-crypto/fiat lending went live in Q3 2018, while the mobile app was launched by close of 2018.

Cred’s mission is to solve the main issues that bedevil cryptocurrency consumers such as transparency, ease-of-access, and understanding. Many are the times’ consumers feel intimidated when looking to invest in cryptocurrency. According to Brendon McQueen, Founder & CEO of Cred, this is because consumers lack education, in the crypto industry, lack of trust in the industry, as well as confusing product offerings.

The unique position of Cred will address this issue head-on by offering an easy-to-use platform that allows users to track the progress of the cryptocurrency invested, receive daily market recaps, news updates, and learn about each coin before investing.

Cred Loans

Cred offers loans in a decentralised lending ecosystem based on the Ethereum blockchain. These loan products are ideal for the demand for credit that traditional banks cannot fulfill. The main target is people with crypto assets, first-time borrowers and citizens in developing countries.

The Cred ecosystem comprises a proprietary AI-based credit model for risk assessment and multiple partnerships with e-wallets, decentralised exchanges, stable coins, identity verification, and KYC.

You can access loans in a seamless digital lending process which involves 5 steps. This includes application, verification and credit assessment, confirmation, collateral deposit, and disbursement. A borrower can pledge any crypto- asset as collateral and receive loans in their desired assets.

Key features of the platform include:

  • Extensive exchange partnership network
  • Diversified sources of credit funds including individual lenders, financial institutions, and stable coin providers.
  • A collateral grade algorithm to verify the volatility of collateral assets
  • In-house proprietary AI-based credit models
  • Identity-verification platforms to outsource the verification process
  • Reduced-interest repayments when you use LBA (CRED’s native token) as collateral
  • Single digit interest rates
  • Fast access to credit

Why Buy Cred?

The blockchain ecosystem is easy to explore and conquer. According to the World Economic Forum, 10% of global GDP will be on blockchain by 2025.

In 2017, roughly 2.2 trillion of new corporate bonds were issued in comparison to $780 billion in new corporate equity. But despite its massive size, the debt markets face a myriad of issues. They include

  • Liquidity risks
  • Barriers to interoperability between markets and regions
  • The heavy concentration of players crucial to market operations create a single point of failure

Cred has one of the strongest team with solid development after ICO. Partnerships with UPA, Uphold, and Binance labs could help mass adoption of the platform, as well as create opportunities beyond the exchange listing. Given that 40% of the world’s population is unbanked, Cred could open the door for everyone to lend, borrow or invest. Though not completely risk-averse, blockchain-based lending platforms such as Cred can offer borrowers and lenders a transparent, global, rewarding experience.

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UK Crypto Tax Policy Report

Her Majesty’s Revenue and Customs (HMRC), is the UK’s government agency responsible for collecting taxes, and overseer of other forms of the nation’s coffers. In December 2018, the tax agency released a comprehensive report explaining how it views crypto assets and taxation on holdings.

The report’s focus is on how to tax the crypto assets you own. The agency will further publish information on the tax treatment of crypto asset transactions involving businesses and companies.

Which Taxes Apply?

The HMRC document is a continuation of previous reports which treat assets more like property rather than a form of currency. The agency doesn’t consider crypto assets to be currency or money. This is a reflection of the position set out by the report from the Cryptoasset Taskforce (CATF). The taskforce categorises cryptocurrencies as either utility tokens, exchange tokens or security tokens.

According to the report, how to treat a token for tax purposes depends on the token’s use case, rather than its definition. The report explains that you will be liable to pay Income Tax and National Insurance contributions on crypto assets you receive from:

  • Your employer as a form of payment, transaction fee, from mining or airdrops
  • If you invest in tokens hoping their value will increase

Additionally, there may be instances where you could be running a business, which is carrying on a financial trade in crypto assets that have taxable trading profits. Though uncommon, Income Tax would take priority over the Capital Gains Tax rules in such cases.

Securities or Not?

Note that the HMRC doesn’t consider crypto trading to be the same as gambling. Such assets are more of securities. To simplify tax calculations, you can combine different assets rather than calculating the gains and losses on each specific asset. Look at the total value placed in the pool and compare that with the value at the end of the tax period.

Forks and Losses

Hard forks occur when one blockchain splits another one for improvements. The document outlines how forks of a blockchain may affect taxation, especially hard forks which cause the chain to split forming new tokens.  The document explains, “A new crypto asset can only be disposed of if the exchange recognises the new crypto asset. If the exchange doesn’t recognise it, the position of the blockchain will not change, to show individual owning units of the new crypto asset. HMRC will consider difficult cases as they arise.”

Other provisions account for assets which lost value, if tokens are defrauded from the investor, stolen, or if you lose your private keys. In regards to the latter, HMRC advises that you can now claim your crypto asset has a “negligible value” which could if approved allow you to claim a loss.

Crypto asset exchanges may only keep records of transactions for a short period. In some instances, the exchange may no longer be in operation when you complete a tax return. It’s your prerogative to keep separate records for each crypto asset transaction. This includes the type of crypto assets, transaction dates, number of units, bank statements, and the cumulative total of investment units held.

The HMRC document is precise and well-written.  It’s also rejuvenating to see the British government shun the ‘Crypto bad’ mentality, popular in some quarters. Treating crypto assets as regular income or investments will make trading in them much easier as most taxpayers, and tax professionals will be more familiar with the processes.

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The Complete Guide To Stablecoins, Cryptocurrencies Holy Grail

The latest innovation in the fast-paced ecosystem of cryptocurrencies is “stablecoins”. These are cryptocurrencies pegged to real-world assets such as the dollar, euro or gold. It’s a global currency, but is not tied to a central bank and has low volatility. This allows for practical uses such as paying for everyday purchases.

How Do Stablecoins Work?

There are two types of stablecoins – reserves-backed and algorithmic.

Reserve-backed stablecoins function same way paper money does when linked to the gold standard. As cash is backed by gold reserves in a central bank, reserve-backed stablecoins are backed one-for-one by reserves of the currencies they’re pegged to.

The second type of stablecoin is not backed by any reserves but instead controlled by an algorithm.

Importance of Stablecoins

Price volatility bedevils coins such as Ethereum and Bitcoin. Swings of 5% or even 10% in a day can happen anytime. This makes using most cryptocurrencies for daily transactions inconvenient. Stablecoins are an attempt to control the benefits of crypto by transferring value digitally and combine them with the trust and stability of mainstream currencies.

Uses of Stablecoins

The most common use of stablecoins is as a liquidity tool for cryptocurrency exchanges. Most banks have shut out many exchanges from mainstream banking because they’re wary of dealing with anything related to crypto for compliance reasons. As a result, many exchanges are unable to accept dollar or euro deposits. Stablecoins offer a solution for clients who want to buy with dollars and trade out of crypto into dollars during high volatility.

Stablecoins proponents believe the technology can allow the creation of more complex financial products on crypto including smart contract dividend payments, insurance, and loans.

Who’s developing Stablecoins?

New startups and existing crypto business such as Circle and Gemini crypto exchange are developing stablecoins. Venture capitalists also have their eye on the space. According to a Blockchain report, stablecoin projects teams have raised $335 million to date. Silicon Valley fund Andreessen Horowitz recently made a significant investment of $15 million into stablecoin project MakerDAO.

The Biggest Stablecoins


Tether is currently the most popular stablecoin. Exchanges use it to offer dollar-like liquidity. It’s also the second most actively traded cryptocurrency (60% of BTC daily trading volume). In early 2018, it entered the top 10 crypto asset rankings by market value. Despite its popularity, Tether has been plagued by criticism of its auditing standards, claims of manipulation, and corporate obscurity.


Maker is a decentralised autonomous organisation. It’s pegged against the USD though backed by ETH. Dai is their stable coin and one is worth $1. It maintains stability via an autonomous system of smart contracts.


Hevven’s structure provides stability by building a system that backs itself with two coins. The first coin, Nomins, is the stable coin and is used for everyday transactions. Havvens are the tokens sitting in reserve.


Basecoin pegs their price to $1 USD, though their approach uses consensus to contract and expand the supply of the coin. When coins trade for less than $1, the coins are contracted by allowing coin holders to buy bonds. Supply decreases and price increases after the coins used to buy bonds are destroyed. To expand the supply, do the opposite.

Facebook Inc is also working to make a cryptocurrency that will allow users to transfer money on its WhatsApp messaging app. According to insiders, it’s first focusing on the remittance market in India, which has 480 million internet users, second only to China.

For cryptocurrencies to go mainstream, the ecosystem needs price stability. This will give users the confidence to make daily transactions. Full adoption of stable coins will lessen the worry of having to time your purchase with the volatility of coins such as Bitcoin and Ethereum. The ambitious projects working on stable coins will usher users into a world where you can use cryptocurrencies to buy lunch, coffee, or pay for groceries!

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TMX Global Coin First Kenyan Cryptocurrency

The continued growth of blockchain technology has seen many businesses adopt the technology into their systems. As a result, many new projects and ventures are indicating the promise Distributed Ledger Technology (DLTs) has in stimulating the economy without discrimination. A good example of borderless is TMX, the company behind TMX Global Coin.

The company aims to become the first digital currency not only in Kenya but also in the East African region. The team behind this crypto coin aims to solve common challenges traders face in the shipping industry. They include fraud, delays in product deliveries, and lack of information by customers.

About TMX Global Coin

80% of the world’s cargo shipment is by sea, making this an ideal market to exploit using Ethereum smart contracts. According to the TMX development plan, the pre-ICO phase was set to take place in September 2018 with one TMX coin costing $0.02 in the first phase, and $0.05 in the second phase. The official launch will be on May 2019.

According to the CEO of TMX, Anthony Njoroge, the company’s main goal is to reduce costs and increase shipping efficiency. TMX will achieve this by, integrating information about shipments on a secure platform accessible to carriers, shippers, freight forwarders, and other transporters in the supply chain.

Using various ERC20 tokens that allow execution of smart-contracts, the company aims to create a global courier service that will allow customers to collect their goods from any part of the world using TMX services. TMX blockchain technology will enable customers to have prior information on the amount of duty they need to pay, import rules for a specific country, delivery timelines, cost of shipping, and other related costs. Such a payment system will ensure a higher level of security that’s not available in most existing systems.

Future Prospects

Because of the high capacity of transporting goods all over the world, there’s roughly $4 trillion worth of cargo moved every year. If shippers were to do this process effectively, there’ll be a significant reduction in the cost of shipping, and the benefits can be passed on to the end-user.

TMX is setting up a global freight forwarders association which will plug into the TMX system, enabling freight forwarders to become TMX trusted agents in any country. In conjunction with its global partners in Asia and Europe, the company has managed to close up the value chain with transparency.

TMX will be able to collect cargo on behalf of the customer and inform the customer issues they need to know in the smart contracts such as:

  • Tariffs for a specific country
  • The country’s expectations and
  • The HS code in the TMX system such that when a customer requests Copper info, they will get relevant info.

The use of smart contracts will help reduce the cost of moving cargo by 14%, which is a significant reduction in the overall cost of shipment. Besides, TMX plans to raise capital through crowd-funding. The TMX coin will be available in markets such as vinyl where supply and demand will dictate the number of coins available. The company’s CEO predicts it may take 12 months to sell 50 million TMX coins, though he expects the dab to be ready by July 2019.

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The DX Network Review

The DX Network is the world first data marketplace. It combines Blockchain and the Semantic Web stack to allow open, secure, and competent data exchange between organisations making data a tradable asset.

The demand for crypto projects in 2018 continues to prove popular as many people are still searching for long-term investments in the industry. This demand convinced DX.Exchange to host an ICO pitch in the 2018 London Summit. The idea behind the pitch is to allow the company to discover the next big project. It plans to showcase 12 projects which will be competing for a free listing on the exchange worth $250,000.

DX Network Milestones and Deliverables

The DX Network marks a major achievement for the data economy to become a reality. Data owners and consumers of business data will be able to transact with each other on a completely open marketplace. Some of the innovations achieved by the DX Network include:

Data owners are free to list data for sale because of the network’s standard listing method and unique storage platform. For data consumers, the crowdsourced data is same as a single big database which saves the consumer precious time by offloading cleaning, organising, data collection and aggregation to the network.

Data consumers can choose the data owners they wish to buy data from. The platform allows users to buy data which comes with cryptographic proof of origin and integrity. Besides, data users’ pay-as-they-go and pay-per datapoint, replacing subscriptions and pay-per-query pricing. This is in line with the Machine Payable Web development inspired in the Blockchain ecosystem by 21, now

Despite data consumers paying for the data they consume, data owners have a guarantee of payment for the precise data consumed. DX Network’s state channels allow data owners to receive direct payment from consumers, avoiding any middlemen, and making transactions same as face-to-face transactions.

Impact and Use Case

The Tech industry is expanding at double the rate as the global economy. This has led to an increase in demand for data in relation to products, technology companies, investors, investments, and market movements. Advances including Coin Offerings and Virtual Reality have made today’s startups quite complex to maintain. This has made it impossible for some platforms to provide the latest comprehensive datasets for the entire industry.

The DX Network is playing its part in reinforcing the current expertise in the technology sector. It’s also creating new data collection efforts for an open marketplace for data.

Beyond Tech Industry Data

The DX Network is not only created to manage data and consumer support but also help make the launch of a new DX data marketplace as seamless as possible. This happens by adding a new data model to the select marketplace to a network in the same model as the DX Tech Industry.

The model allows the DX Network to exchange data in many application domains such as Insurance, Finance, Artificial Intelligence, Healthcare, Government, Retail, and many more. Top five companies by market cap are all tech companies, and that’s why the DX Network’s beachhead Tech Industry data marketplace was chosen for its influence on the global economy.

Launching the DX Network with a Tech Industry data marketplace is not only a strategic option. The technology sector itself has become one of the most open in helping ease and innovate the technology’s adoption.

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Nemchange Review

New Economy Movement (NEM) is a cryptocurrency platform that features a proof-of-importance algorithm. It was written from scratch in Java and JavaScript and is the first reputation based algorithm.

Its other features include P2P secure and encrypted messaging system, multi-signature accounts and an Eigentrust++ reputation system. NEM recently went through an impressive increase in price that catapulted it to the apex in market capitalization for crypto. If you intend to buy or recently bought your first XEM, the next step is to send them to your account for storage.

What is Nemchange?

Nemchange is a cryptocurrency exchange for buying and selling NEM tokens called mosaics. The exchange runs on the NEM blockchain, same as ETC20 tokens which run on Ethereum blockchain. Nemchange is the epitome of how users in the NEM fraternity can collaborate to build projects that have the potential to further advance the NEM blockchain. An engineer from Poland and member of the NEM Community called Pavel Polak developed Nemchange,

Nemchange has a simple enough interface which has made it easy to attract over a thousand traders to follow it. Its main selling point from other exchanges is the potential for automatic placement of the NEM mosaic that arrives at the stock exchange purse. It enables traders to buy or sell mosaics before their official listing on any crypto exchanges. A good example includes Loyalcoin (LYL) and ProximaX (XPX) which are both traded for XEM.

Token Pairs to Trade

The NEM platform allows you to trade any available and tradable mosaics created on the platform. Currently, it’s not possible to trade popular crypto coins apart from XEM. In the future, the exchange expects to add popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and other coins.

Besides, Nemchange exchange will run a NEM blockchain for future COMSA ICOs. COMSA is a cross-chain router, controller and a conduit for future ICOs that aim to exist in the COMSA system.

Nemchange Withdrawals

Currently, the withdrawals on the Nemchange exchange are operated manually thus it can take longer for a withdrawal to be processed. In the future, the process will be semi-automatic resulting in faster withdrawals. There are no private keys stored on Nemchange servers making it difficult for a hacker to steal your funds. These and other features are some of the benefits of the blockchain.

Every time you make an on-chain transaction, the sender is obliged to pay an additional transaction fee to the mosaic creator. The nature of the mosaic will determine if the fees will be a set percentage or a constant fee. The price is 0.5% anytime you make an order on the exchange. While withdrawing, the price is 3XEM + levy (of mosaic transfer).

What is Levy?

Not all mosaics have a levy in their mechanic. This means that every time a user makes on chain transactions. For example, when withdrawing in Mosaica Exchange or deposit into the exchange, the sender is obliged to pay additional transaction fees to the mosaic creator. But this depends on the mosaic if it’s a percentage fee or a constant fee.

If you have any questions or need to report a bug on the Nemchange exchange, you can contact the creators on the Nemchange Telegram channel.

By Jeff Mwaura, Jeff is Kenyan based freelance writer with focus on technology and finance.

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Crypto Faucets

The only investment you will need is your time.

One way to get free coins is to visit faucet websites which dispense small amounts of money every time you claim.

You will need to visit the faucets constantly or spend a lot of time online as the rewards are quite small. Faucet websites are also slow as people don’t give away free money that easily. There is a huge list of faucets, some are worth it while others are not.


This is by far the best of the bunch. It has been running for years and allows users to claim a minimum of 13 satoshis and a maximum of 2,515,125 (if you’re super lucky) on every roll. You can claim satoshis every hour. Once you achieve the 30,000 satoshis threshold, you stand a chance to earn a 4% annual interest. For each roll, you receive reward points. Your points grow every time you roll. You can use the reward points to boost your free Bitcoin earnings or activate other bonuses. Avoid the Multiply BTC Hi-Lo game which is the gambling bit of the website. You can lose your Bitcoins so it’s advisable to stick to the risk-free sections of the website which are:

  • The Free Bitcoin for rolling a dice which guarantees you some fraction of winnings and
  • The Earn Bitcoin for gaining interest on top of your bitcoins.


This is another favorite and has been running for some years. The system is designed to peak after one hour, similar to FreeBitcoin. Payout goes to Coinpot though you have to wait until you achieve 5,500 satoshis to make a transfer. You can also transfer your earnings to FreeBitcoin where you can earn a tidy interest. Always login to this faucet every day to maintain your daily bonus percentage.


This faucet works much like moonbit though a bit slower. It has a payment threshold of 25,000 satoshis to your Bitcoin wallet or 200 satoshis to a Xapo wallet. Note that funds transfer from Xapo to Coinpot are high, so it’s advisable to have enough satoshis to cover the charges. Always login to this faucet every day to maintain your daily bonus percentage.


You earn free satoshis at a much slower rate on this faucet. Payment goes to Coinpot which works well if you can combine it with moonbit. The system is also designed to peak after one hour.


This is another slow faucet – it transfers earnings to Coinpot. You can make claims every 15 minutes though it’s advisable to wait until one hour elapses. It’s another reliable faucet.


This faucet has been running for years. The experience its owners have gained over time has allowed them to tweak their system to simplify the claiming process. It pays to FaucetHub.

Automatic Claims

Some websites such as Moonbit do some background mining, once you opt-in to that option. The auto-claims are very little and running them all day will generate less than $0.01. They also consume a huge amount of your processor power, so avoid them if you are using a laptop or tablet. CoinPot’s browser is ideal for mining if you’re using a computer. Payments go to FaucetHub which allows you to choose different coins.

Note that you can’t always rely on faucets to earn a good amount of bitcoins. Some of them require much effort for small rewards. Remember the faucets will only pay you cents per hour no matter how long you keep claiming.