The ultimate guide to Base airdrop

The ultimate guide to Base airdrop

Despite earlier announcements by the team at the launch of the blockchain, Base’s airdrop might be just around the corner. Base, the Layer 2 developed by Coinbase, the world’s largest cryptocurrency exchange, might reward its network users in the coming months.

A few months ago, the same team said they would not launch a token. However, the situation appears reversed, given the recent shift in the relationship between the exchange and U.S. regulatory bodies. Learn about the potential Base airdrop, Ethereum’s Layer 2, developed by Coinbase.

What is Base, Coinbase’s Blockchain?

Base is an Ethereum Layer 2 developed by the world’s leading crypto company, Coinbase. Available in over 100 countries for several years, the exchange offers a wide range of products to an equally broad customer base (about 7.3 million) and manages approximately $130 billion in assets on its platform.

This network is built using Optimism’s development stack, which is similar to the current second most famous Ethereum scalability solution. It utilises optimistic roll-up technology to allow users to process transactions quickly and cheaply and is compatible with the Ethereum Virtual Machine (EVM).

How to Qualify for Base’s Airdrop?

Neither the Base team nor Coinbase has confirmed the arrival of the Layer 2 token, so the existence of a future Base airdrop is not particular. Contrarily, they specified the opposite in the months before the mainnet launch. However, after statements by Paul Grewal, Chief Legal Officer (CLO) of Coinbase, many are more optimistic and believe that this free token distribution is imminent.

It’s important to note that it’s usually too late to qualify when a protocol announces an airdrop. Therefore, starting early is almost always mandatory, even if its arrival isn’t sure.

Since we don’t know if Base’s airdrop will occur, the requirements to receive it remain a mystery until the possible announcement of the free distribution. However, we can speculate based on past airdrops, which almost always rewarded frequent interactions with a particular protocol and the volume of crypto traded.

Practical Guide to Base’s Airdrop

Assuming Base’s airdrop is on the horizon, let’s explore the most likely steps to qualify.

  1. Access to a Decentralized Crypto Wallet and Network Integration

To receive Base’s airdrop, you must act on-chain directly on Ethereum’s Layer 2. First, you need a decentralised wallet and add Coinbase’s blockchain. Several wallets support it, notably Metamask and Coinbase Wallet, the decentralised wallet developed by the exchange.

To add the Base blockchain to your Metamask, consult the official documentation of Layer 2 and enter the necessary data. For convenience, here are the details below, but be aware that the RPC address might change over time, so always check Base’s official website.

– Name: Base Mainnet

– Description: The public mainnet for Base

– RPC Endpoint: https://mainnet.base.org

– Chain ID: 8453

– Currency Symbol: ETH

– Block Explorer: https://basescan.org

  1. Purchase Ethereum on Young Platform and Withdraw

Base, as mentioned, is an Ethereum scalability solution, so if you want to qualify for the airdrop, you need to own some Ether. This will enable you to use the dapps and process the necessary transactions to qualify for the distribution. You can use Young Platform by clicking this button if you don’t own any.

Buy ETH!

To transfer your ETH from your Young Platform account to your decentralised wallet, follow this guide. Remember, it’s essential to withdraw the ETH you want to use through the Ethereum network.

  1. Reach Base through an Official Bridge

The best way to reach Base is through the official bridge. Using it could be one of the essential requirements to qualify for free token distribution. To transfer your Ethereum (ETH) to Base, simply connect your wallet, select the amount you want to send, confirm, and approve the transaction.

  1. Utilise dapps on the Blockchain

Once your ETH has reached its destination, you should start interacting with the decentralised applications (dapps) on Layer 2 to qualify for the potential Base airdrop. Decide how to proceed based on the amount of ETH you intend to use (necessary to cover the gas fees, which are relatively low due to the high scalability of this network).

The most popular strategy for “airdrop hunting” involves making swaps between tokens available on the blockchain, using native decentralised exchanges (DEX) if possible – specifically created for that network. The most famous on Base are Aerodrome and BaseSwap, but you can check Defillama’s dedicated page to discover all the most used dapps on the network.

If you’re feeling adventurous, you can explore more advanced protocols like yield farming. Lastly, you could use one of the most popular platforms exclusively on Base, such as Friend Tech, the most famous example of socialFi.

4. Regular Use of the Blockchain

Finally, the frequency of your interaction with this network might be necessary for receiving the Base airdrop if it happens. Past free token distributions have rewarded users who regularly interacted with the network.

Therefore, it’s advisable to repeat the actions described in the previous steps over time. Another criterion the Coinbase team might consider is the variety of dapps used. To meet this requirement, connect your wallet and carry out operations on different platforms of Layer 2.

Should it be confirmed, you’ve just read the likely fundamental requirements to receive the Base airdrop.

Discover Celestia (TIA), the new crypto on Young Platform!

Celestia (TIA) now available on Young Platform

You can now buy, sell, and hold TIA on Young Platform! Learn about this innovative project and the purpose of its token!

Celestia: everything you need to know  

Celestia is a distinct modular blockchain infrastructure designed to enhance the scalability and flexibility of networks developed on it.

TIA serves a dual purpose as both a utility and governance token. It’s essential for paying fees on the network and the Layer 2 platforms that will be developed in the upcoming months, and it’s also vital for participating in protocol governance votes.

The project, launched in October 2023, began with its prototype in 2019. The founding team includes Mustafa Al-Bassam, CEO and co-founder of Chainspace (acquired by Meta), Ismail Khoffi, John Adler, and Nick White. Celestia raised $55 million across two distinct funding rounds, earning it the status of a unicorn startup (valued at over $1 billion). Its venture capital supporters include prominent names like Coinbase Ventures, Jump Crypto, Placeholder, Galaxy, and Delphi Digital.

Interested in Learning More?  

Delve deeper into Celestia in the Academy.

How to Use TIA on Young Platform  

Explore the full range of features for Celestia (TIA) available on Young Platform and Young Platform Pro:

  • Buy and sell with EUR
  • Set up recurring purchases
  • Deposit from another wallet or send via the Celestia network
  • Create a single currency or a customised Moneybox

Buying Render (RNDR) is available now!

Render Network (RNDR) available on Young Platform

Starting today, you can buy a new cryptocurrency on Young Platform: learn about Render (RNDR)!

From now on, you can buy, sell, and store RNDR on Young Platform! Learn how this innovative project works and what the token is used for to decide if it’s right for you!

Render: everything you need to know

Render Network is a unique protocol in its field, as well as one of the fastest-growing blockchain platforms currently.

It is built on Ethereum and leverages blockchain technology to democratise access to the necessary resources, predominantly graphics cards (GPU), for content rendering.

RNDR serves both as a utility and a governance token: it is essential for accessing the platform’s decentralised rendering service as well as for participating in voting on the future of the protocol.

The project, created in 2017 by Jules Urbach, then CEO of OTOY, a company specialising in rendering and computer graphics, stems from an ambitious idea: to use blockchain technology to revolutionise graphic rendering.

Want to learn more? Dive deeper into Render Network on Academy!

How to use RNDR on Young Platform

Here are all the features available for Render (RNDR) on Young Platform and Young Platform Pro:

  • Buying and selling with EUR
  • Recurring purchase
  • Deposit from another wallet or send through the Ethereum network
  • Creating a Single Currency or Custom Moneybox

Step 3.0: A New Journey Begins!

Step’s evolution into a crypto game continues: discover the new Hub and Journey, with new challenges and lessons

Last summer we introduced the first elements of Step 3.0: levels, profile and experience points.

Today the crypto game takes another important evolutionary step. In a nutshell, in the Home you will find a guided path to discover cryptos (and more). But let’s go step by step, and delve into all the new features.

The Journey

You will find an entirely new Home, which will guide you through the blockchain maze, showing you the way. 

You will be the protagonist of a futuristic journey, for which you only need two things: a great deal of curiosity… and downloading the Step update!

You will be teleported on a path that is first gentle and then gradually more challenging: you will start as a Newbie, then become Analyst and finally Master. 

During this adventure you will develop various skills and habits such as walking, analysing markets and acquiring new knowledge.

It doesn’t matter if you already know Web3 like the back of your hand, or if you’ve never heard of it, in the ‘Education’ challenges you will find both the basics and trivia and insights into crypto. All of this, in highly digestible pills.

Missions

On the way, you will meet a robot who will reveal a secret to you: if you take a little detour, you can accumulate extra XP and YNG. Just follow the signs for Missions.

You may have already used them, in fact they have been live for quite some time now, but we have not yet given them the recognition they deserve. On the other hand, the Step community has appreciated them very much and we are very happy about that.

For those unfamiliar with them, they are events lasting a few weeks, which allow you to win YNG if you complete all the required Quests. 

Try them, we’re sure you’ll enjoy them. It’s not over yet, continue below to find out how we rearranged Step.

Hub and navigation

We have not forgotten about seasonal cleaning and renovation: user experience is crucial and we always keep an eye on it. 

Thus the Step sections became three, making the app more essential, but at the same time richer.

  • The Home section is dedicated to the Journey, and there you will always find your personal achievements and profile.
  • Missing the old features? You can find them all in the Hub. Here you can redeem steps, make forecasts and complete Quests also outside the Journey, in the order you want.
  • On the right hand side you will find ‘Explore‘, where you can read and view lots of new content by endlessly scrolling. Read market news, watch in-depth videos, or brush up on theory.

That’s all for now. In the meantime, we are excited to hear what you think of these new features. For our part, we will never stop improving Step by following the advice of the community and will accept all kinds of comments. 

The real journey? Building Step together, so that it may stay the most effective and fun way to learn about cryptocurrencies! 

Multinetwork: transfer your cryptos conveniently

Send your cryptos via your preferred blockchain, to and from Young Platform with the Multinetwork

For some time now, many people in the community have been asking us to introduce the possibility of withdrawing and depositing crypto via different networks, such as Layer-2s. Here’s what it means and the perks of the Multinetwork feature!

What are networks?

During your journey in the crypto market, you might want to use a wallet or a DeFi application. 

To add cryptocurrencies to these wallets and use these apps, however, you will have to go through an exchange to convert euros into crypto.

Or, at some point, you might want to transfer the tokens you got from these applications to Young Platform, so you can convert them, or keep them to simplify your funds management.

To transfer crypto from Young Platform to other crypto applications and vice versa, you’ll go through the network of a blockchain.

And here is the heart of the matter: which blockchain to use?

Each cryptocurrency, in fact, is supported by different blockchains (and networks): BTC can mainly be transferred via the Bitcoin network, ETH via Ethereum and so on.

Over time, however, several increasingly fast and convenient blockchains have emerged, especially for transferring Ethereum’s native cryptocurrencies. Layer-2s such as Arbitrum, Optimism and Polygon have allowed ETH and all ERC-20 tokens to circulate in a scalable and efficient manner.

Therefore, in many crypto applications you will find the possibility of using different blockchain networks. Now you can do this on Young Platform too!

Which new networks are supported?

In this first round, the new networks only concern ETH, USDC and USDT, the most widely used cryptos in DeFi. New ones will be added in the future.

Here are the new networks supported for withdrawals and deposits:

ETH

  • Arbitrum
  • Optimism
  • BSC

USDT

  • Polygon
  • Tron
  • Arbitrum
  • Optimism
  • BSC

USDC

  • Polygon
  • Arbitrum
  • Optimism

The complete list of networks can be found on the Prices and Fees page, while guides on how to withdraw and deposit are available on our Support Portal.

Take advantage of the Multinetwork to transfer your cryptos in the fastest and cheapest way!

Warning: cryptocurrency transfers sent on the wrong network, or to the wrong wallet, or without a memo/tag may not be recoverable.

New feature: convert small balances into YNG

One of the community’s most requested features has arrived: the conversion of ‘Dust’ into YNG tokens! 

You know when, after a sale, you are left with a few cents of a cryptocurrency, which you will probably never buy again? 

Doesn’t it bother you, every time you scroll through your wallet and see a microscopic balance, those pennies you can never sell? 

It’s finally time to get rid of them!

From today, those forsaken cents find a utility: you can convert them into YNG tokens with the new Dust feature.

How does it work?

You can convert all cryptocurrencies available on the exchange into YNG. This means that a cryptocurrency is only compatible with the Dust function if you can buy and sell it normally. Consequently, cryptos listed only to support airdrops and delisted cryptos are excluded.

Converting Dust is very easy (and also quite satisfying):

  • Go to the Wallet section of the app or website
  • Click on the button ‘Turn small balances into YNG’.
  • Select the cryptocurrencies you want to convert
  • Click on ‘Convert’ to complete the procedure and receive YNG.

We know you can’t wait: tidy up your wallet and collect YNG!

Club Benefit: Get up to 78% discount on NordVPN plans

Only one person has the right to know what you do online: you. Discover NordVPN’s offer and the discount for your Club

Being tracked online is never pleasant, even if you have nothing to hide. Since we, too, are fans of online security and privacy, we thought NordVPN would be just the thing for Clubs.

What is NordVPN?

VPN (virtual private network) usually hides your IP address and allows you to surf in private mode, even on sites with geographical limitations.

NordVPN is a VPN that uses a network of servers worldwide: more than 5,000 servers in 60 countries. But it is also much more! 

All plans, in fact, include these services:

  • Web access without geographical limits: explore the Internet from anywhere in the world
  • Surf safely even when connected to public Wi-Fi;
  • Worry-free sharing of files and information, e.g. to work or play online with other people;
  • Protection from malware, online trackers and malicious advertising.

More advanced plans even include Nordpass and Nordlocker, the password manager and encrypted file storage service.

In short, NordVPN has thought of everything: now you can surf carefree and completely control your data.

It can be used from any device and is also very intuitive! It is not hard to see why it is one of the top VPNs. 

How does the benefit work?

NordVPN offers three packages: Ultimate, Plus, and Base. The official website already offers discounts for each.

On top of these, Young Platform Clubs add an additional cumulative discount, exclusively applicable to two-year plans.

Combining the two promotions results in the following:

  • Bronze: up to 74% total discount + 4 months free
  • Silver: up to 75% total discount + 3 months free
  • Gold and Platinum: up to 78% total discount + 3 months free

How to apply the discount?

First, join a Club or upgrade to the most advantageous one with the Young Platform app.

  1. Visit this page
  2. Click on the “Get NordVPN” button
  3. Select the two-year plan, and choose the package you prefer
  4. Clicking on the button “Get [package]” takes you directly to the payment page
  5. Here, enter your email address
  6. Click on “Got a coupon?” 
  7. Enter the discount code received by email
  8. Check that the code has been accepted
  9. Select a payment method (yes, even cryptocurrencies are accepted!)
  10. Conclude payment

If you have any problems, you can contact NordVPN customer service at [email protected]. If you are not satisfied with the service, you can request a refund within 30 days.

Young Platform Community: new Telegram and WhatsApp channels

Young Platform Telegram and WhatsApp: the new channels

Two new spaces dedicated to the Young Platform community have arrived. Here are the new Telegram and WhatsApp channels

In August 2022, Young Platform’s official Discord server was launched and from then on we started using the Telegram group as just a channel. Today, due to the large number of malicious actors who are trying to scam our users, we have decided to create a new member space within the messaging app.

Why a new Telegram channel?

The main reason that led us to make this decision is related to the increase in reports of attempted scams against our users. As of today, malicious actors can view phone numbers and then contact members in private.

Young Platform’s new Telegram channel solves this problem. It is to all intents and purposes a channel (and not a group where admins are the only ones who can post) and so the username and phone number of the members are hidden. This way, nobody can contact them and trick them through practices such as phone phishing or smishing.

We would like to point out that the Telegram group you have been using to read the news, announcements and analyses up to now will be DEFINITELY CLOSED in a few weeks. We therefore invite you to join the new one, so that you can follow all updates safely.

Join the official Young Platform Telegram channel!

Not only Telegram but also WhatsApp

The messaging app recently introduced Whatsapp Communities. These are larger and more articulated discussion groups than those normally used to communicate with friends or family. This new type of channel allows administrators to connect related groups in one virtual place.

Young Platform’s WhatsApp group will, for now, serve the same purpose as the Telegram channel. It will only be one more option for those who want to stay up-to-date and will not be able to send messages but only read them. One more way to learn about all the news concerning our ecosystem and the crypto world.

Join our Whatsapp community!

Interact with us and other users on Discord!

The main space dedicated to our community will remain the official Young Platform Discord server, which has recently been completely redesigned. We want to focus the discussion on Discord because we believe it is the perfect place to encourage participation and dialogue between us and our users. 

The messaging app, thanks to the almost infinite number of integrations it allows, is perfect for architecting gamification logics that make the user experience more fun. If you haven’t joined our server yet, we recommend you do so, it’s worth it!

Explore our Discord server

What is spoofing? The meaning of this scam and how to protect yourself

All you need to know about phone spoofing: what is it and how to protect yourself from the growing scams

Knowing the meaning of phone spoofing is nowadays increasingly important to avoid falling for the scams of malicious attackers, who are constantly ready to steal personal data and money via technological tools. 

Fraud, unfortunately, is now the order of the day, and phones make things much easier for those who try to carry out such frauds. Phone spoofing falls right into this domain, so it’s crucial to clearly understand not only what it means, but above all how to protect yourself from such schemes and how to avoid running into them.

The meaning of telephone spoofing: what it is and types

Literally, the meaning of spoofing is connected to that of deception, cheating. With this type of attack, attackers impersonate another entity by falsifying data in order to gain an illegitimate advantage. This manipulation is based on the ability to deceive systems and users who are led (wrongly) to believe that they are communicating with a trusted source.

It is a technique that is widely used in more general phishing attacks, the ultimate goal of which is to obtain personal information, such as passwords, credit card numbers or financial details. 

To really understand the meaning of spoofing, however, a distinction must be made between the different types of attacks possible. In some cases, victims may receive classic messages on their phones in which the identity of the sender is concealed in order to appear legitimate (SMS spoofing). However, there is not only message spoofing, but also voice spoofing. Malicious attackers can in fact also change phone numbers when making calls to users.

Changing the sender’s numbers and name, by the way, is not such a difficult practice. There are even providers who offer this type of service because, basically, it is not considered illegal. It is only so when it is used to defraud users. Take for instance all those companies that need to send large-scale service messages to their customers and need to hide the sender’s number. In this case, the practice appears perfectly legitimate, whereas the meaning of spoofing changes, taking on a negative connotation when the process is generated to carry out malicious actions and scams. 

Then there is also e-mail spoofing, which, as the name suggests, takes place by sending e-mails. Also not to be forgotten is IP spoofing, with which fraudsters conceal the identity of a server by making the IP address of a host seemingly legitimate, or even DNS server spoofing, in which the compromise of the DNS (Domain Name Service) server results in a redirection to a malicious site. ARP spoofing must also necessarily be taken into account in order to protect oneself: in this case, forged ARP (Address Resolution Protocol) messages are sent by fraudsters.

Regardless of the type of approach adopted, all the various forms of spoofing share a fundamental element: they use trust as leverage to obtain or alter sensitive data, commit financial fraud, circumvent network access control mechanisms, and spread malicious software through malicious links and attachments.

How to protect yourself?

Identifying spoofing attacks has become increasingly difficult today and this is because, as already mentioned, falsifying the identity of senders is anything but difficult. This means that everyone should adopt sound and careful security practices. 

First of all, you should only visit official and notoriously secure sites (with HTTPS protocol). Then you should think carefully about every communication you receive (on any kind of channel), even when the sender seems absolutely trustworthy. 

You should then avoid entering your personal data too confidently and lightly without first having investigated the sender who is requesting that action, and you should obviously carefully analyse all links and attachments contained in received communications. A simple click on them, in fact, could have important repercussions for you. 

The use of strong and robust passwords is also highly recommended. You should avoid using common names that can be linked to you, or easily identifiable dates of birth, and construct highly customised keys that are difficult to find.

Keeping your attention high, therefore, is crucial, but it is not the only thing you can do to protect yourself against spoofing. You could, for instance, decide to use a VPN to make fraud attempts more difficult (hackers would find it difficult to decipher the data of users who have encrypted their traffic). Or you could evaluate services such as blocking cookies, offered for instance by NordVPN’s Threat Protection. You could also use classic antivirus software, which is able to identify attack attempts, and firewalls that can detect addresses outside the local network. 

As already stated at the beginning of this article, knowing the meaning of spoofing is more important than ever, as is keeping alert to the countless fraud attempts to which we are unfortunately now exposed. 

Young Platform takes strong security measures to ensure its reliability and does not ask its users for access credentials and other security codes.

5 basic finance concepts you should know

Discover 5 basic finance concepts to better manage your savings 

When you hear the word ‘finance’, does your brain immediately reply ‘I’ll never understand it’? As a matter of fact, it is one of the most intimidating topics for people, perhaps because it is rich in concepts or because it is associated with large amounts of money and risks, or even because it is considered an elitist world for a few experts. Finance is nothing more than the management of funds and it also has an impact on your daily life, so to manage your money with awareness, it is important to know the basics. Here are 5 basic finance concepts you need to know. 

1. Time value of money

The first of these basic finance concepts is that a sum of money is worth more in the present than in the future. In other words, the value of money decreases over time due to inflation, which reduces purchasing power.  

This means that if you keep €1,000 for five years ‘idle’ under your mattress, its value will drop dramatically over time. And at the same time you will lose the possible gains that your 1,000€ would have yielded once invested. 

The concept of time value of money in fact shows that if money gradually loses value, the only way to make it grow is by investing and that waiting to do so means missing an opportunity.  

This principle is to be taken into account before embarking on any financial strategy. Pension fund managers, for example, consider the time value of money to ensure adequate funds for their clients at retirement.

The time value of money can be calculated using a formula that takes several variables into account: the present value of an amount of money, the time interval, interest and inflation rates.

Compared to fiat currency, there are assets that are less subject to the time value of money principle. These include safe haven assets such as gold and commodities because their scarcity increases their value over time, and for some this category also includes Bitcoin (read the research). 

2. Diversification

To explain the second of the basic concepts of finance, that of diversification, the image of the basket is often used: the rule is ‘never put all your eggs in one basket, if it falls they will all break’. The idea is not to buy a single asset with your savings to avoid losing everything if something goes wrong. Diversification serves to minimise risk and consists of spreading one’s investments across several assets. 

Diversification is also used by crypto users to create a balanced cryptocurrency wallet.

3. Risk/reward

Another of the basic concepts of finance is that of the ‘risk/return’ ratio. This relationship is directly proportional, i.e. the higher the risk, the higher the return and vice versa. In the world of finance, you often hear that ‘There ain’t no such thing as a free lunch’; this expression was popularised by the economist Milton Friedman among others. One cannot have lunch without paying, i.e. in order to have high profits, one must be willing to take risks.  

4. Interests 

Interest is a fundamental component of finance and represents the cost of borrowed money or the gain from a deposit. In a loan, interest represents the amount of money the lender charges the borrower for lending him/her the money. They are usually expressed as a percentage and are paid together with the repayment of the principal (i.e. the amount of money lent) at set intervals, e.g. monthly or annually.

In an investment, on the other hand, interest is the profit earned over a period of time. For example, if you deposit money in a bank account that offers an interest rate of 2% per annum, you will earn 2% on the money deposited each year.

When considering whether to take out a mortgage, looking at the interest rates is crucial. These can be influenced by the monetary policies of the European Central Bank, which decides on interest rates, which then fall on the commercial banks. 

5. Put your money at work 

Of all the basic concepts of finance, this refers to the idea of embarking on a strategy in order to grow one’s savings and thus achieve a return. 

In this way, the money ‘works’ for you, producing results. Obviously every investment has its risk component, the idea behind ‘putting your money at work’ is to try to get a higher return than you could get by simply keeping your money in a bank account or under your mattress.

In summary, ‘put your money at work’ is an invitation to consider investing as a way to grow your money and achieve your long-term financial goals. 

These were the 5 basic finance concepts worth knowing. Not as incomprehensible as you thought, right?