Crypto Beginners Guide, New Crypto Wallet? Add Acrana (ACR), Kava (KAVA) & Flow (FLOW) April, 2022

2 min read

The world of cryptocurrency is constantly expanding, creating new technologies for the ever-demanding consumer.  This world can be overwhelming to a newcomer. However, if you’re thinking of setting up a crypto wallet soon, make sure you add Acrana (ACR)Kava (KAVA), and Flow (FLOW) to your watchlist. 

Wallets allow for the transmission, acceptance, and storage of cryptocurrencies, but choosing a crypto wallet can also be a confusing experience, so make sure to do your research on potential wallets, as there are benefits and disadvantages to all. 

Once you’ve become familiar with how your wallet works, think about adding these cryptocurrencies to your watchlist. 

Acrana (ACR)

Acrana (ACR) was founded in February 2022 as a decentralised financial infrastructure to establish a worldwide virtual currency. The Acrana project’s purpose is to have its worldwide virtual currency backed by cryptocurrency rather than the US dollar, to benefit the global community. 

Acrana wishes to appeal to individuals who have lost trust in existing financial infrastructure and those who feel cryptocurrency is the way of the future, placing a high premium on the community via the project’s DAO governance. All project-related decisions are made by community members. 

Acrana’s main method of value creation is via staking, which provides holders with the advantage of earning money on their crypto holdings while also being a more environmentally friendly procedure than cryptocurrency mining.

Although at the beginning of its journey, this cryptocurrency might be one to watch.

Kava (KAVA)

To avoid the requirement for a typical financial intermediary, Kava is a software protocol that employs various cryptocurrencies to provide peer-to-peer (P2P) lending and borrowing. As a result, Kava might be regarded one of a growing number of DeFi initiatives. 

However, unlike other DeFi projects, Kava is based on Cosmos, a design choice, that its developers claim, provides extra features. On Cosmos, users may create smart contracts that encrypt their cryptocurrency holdings to access loans denominated in the USDX cryptocurrency, which is tied to the value of the US dollar. Users of the network can put their crypto assets up for collateral in exchange for the US dollar. Users may start earning a solid passive income by staking and bonding USDX stablecoin.

KAVA’s market cap rank is number 141 according to coingecko.com and is currently trading at $3.27 at the time of writing with an all-time high of $9.12 in August 2021. 

Flow (FLOW)

Flow (FLOW) was created by Dapper Labs, the creators of the infamous CryptoKitties which was a huge viral trading game where users could buy, collect, and breed digital cats. CryptoKitties was so popular it crashed the Ethereum network it ran on. To address the issues they discovered, these innovators set out to find solutions by creating Flow. 

Flow was created specifically for large-scale crypto games and NFT collectibles. Validators are required to stake a particular quantity of FLOW tokens to participate in the network, which is implemented via the proof of stake (PoS) consensus technique.

However, the method in which validation works in Flow is unusual among blockchains, since it divides validation activities into four different kinds of nodes: consensus, verification, execution, and collection (which are all performed by different nodes). When a transaction is validated, all four node types are involved in the process.

FLOW’s market cap rank is number 56 according to coingecko.com and it is trading at $6 at the time of writing with an all-time high of $42.40 in April 2021.

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