EASY

Overview of EASY

EasyFi (EASY) is a Layer 2 Decentralized Finance (DeFi) lending protocol, focusing on digital asset lending. Founded in 2021, it prioritizes community governance and utilizes the $EZ token. While not currently supported by KuCoin, EASY can be purchased on other centralized and decentralized exchanges. Though lacking significant trading volume and Total Value Locked (TVL) as of February 2024, EasyFi recently launched interoperability features allowing seamless token movement across multiple blockchains and introduced fixed-interest staking programs.

Pros and Cons

Crypto Wallet

EasyWallet is designed for making online payments within Armenia through a mobile app and EasyPay terminals. It allows users to store various payment methods, including bank cards, utility bills, and loyalty cards, for convenient and secure online transactions.

What Makes EASY Unique？

EASY, formally named EasyFi Token, exhibits several innovative features that differentiate it from other cryptocurrencies. Firstly, it operates on a Layer 2 blockchain infrastructure. Layer 2 refers to a secondary framework or protocol built on top of an existing blockchain, aiming to enhance the blockchain's scalability and speed, which is an improvement from traditional, slower blockchains.

Moreover, EASY presents a distinct focus on integration with Decentralized Finance (DeFi) systems. Many cryptocurrencies operate in isolation or have limited integration with broader systems. However, EasyFi Token is designed with the ability to potentially function within various DeFi systems, which could enhance its reach and utility.

How Does EASY Work？

EasyFi Token (EASY) works utilizing a Layer 2 blockchain infrastructure, an advancement on traditional blockchains. Layer 2 blockchain solutions or protocols increase the transactions per second (TPS) scale and speed, offering a more efficient and scalable network. They operate by off-loading some of the transaction load to a secondary layer, which eventually settles back on the underlying primary blockchain.

EASY is designed with DeFi, short for decentralized finance, integration capabilities in mind. DeFi platforms typically use blockchain technology to remove intermediaries from financial transactions. The intent is to create a permission-less financial system where users maintain full control over their assets but can leverage various services like lending, borrowing, and yield farming. As such, EASY aims to serve as value exchange within these kinds of protocols.

Exchanges to Buy EASY

Several cryptocurrency exchanges support the purchase and trading of EASY token. Here are ten of the available platforms with their respective currency and token pairs, though it's important to note that options may change over time based on the exchanges' policies:

1. Binance: It is one of the world's largest and most popular cryptocurrency exchanges. Binance supports EASY trading with popular pairs such as EASY/BTC, EASY/ETH, and EASY/USDT.

See this link for details on how to buy EASY: https://www.binance.com/en-AU/how-to-buy/easyfi

• Sign up for Binance: If you don't have an account on Binance yet, you'll need to create one. Go to the Binance website and sign up.
• Complete Verification: Depending on your region and the level of verification you want, you may need to complete some verification steps. This usually involves providing some form of identification to comply with Know Your Customer (KYC) regulations.
• Deposit Funds: Once your account is set up, you'll need to deposit funds into it. You can deposit cryptocurrency or fiat currency depending on your preference and what's supported on Binance.
• Navigate to EASY Trading Pair: After your funds have been deposited, go to the Binance trading platform. Use the search bar to find the EASY trading pair. This could be EASY/BTC, EASY/ETH, or EASY/USDT, depending on what currencies you deposited.
• Place Buy Order: Once you've selected the appropriate trading pair, you can place a buy order. Decide on the amount of EasyFi you want to buy and at what price you're willing to buy it.
• Execute Buy Order: After you've entered the details of your buy order, you can execute it. If your order matches with an existing sell order on the platform, your order will be filled, and you'll become the owner of EasyFi.
• Withdraw Your EasyFi: After purchasing EasyFi, it's recommended to withdraw it to a secure wallet where you have control of the private keys. While keeping funds on exchanges is convenient for trading, it's generally considered safer to store larger amounts of cryptocurrency in wallets where you control the keys.

2. Uniswap: This decentralized exchange operates on the Ethereum network. It supports EASY in pairings with ETH and other ERC-20 tokens.

3. CoinDCX: A global exchange that provides EASY/USDT pair for trading.

4. Poloniex: This platform offers EASY token trading with pairs like EASY/USDT.

5. Gate.io: It supports trading pairs such as EASY/USDT and EASY/ETH.

How to Store EASY？

EASY tokens can be stored in wallets that support ERC-20 tokens since the EasyFi Token (EASY) is based on Ethereum's protocol. There are several types of wallets you can use to store EASY tokens:

Web Wallets: These are wallets accessed through web browsers. Metamask is a popular web wallet choice that supports EASY tokens.

Hardware Wallets: These wallets are physical devices designed to securely store cryptocurrency offline. For EASY, you can consider hardware wallets such as Ledger or Trezor that support ERC-20 tokens.

Is It Safe？

EasyFi (EASY) is a decentralized finance (DeFi) protocol that offers various lending and staking services. While DeFi platforms offer innovative financial opportunities, security remains a critical concern. Here's an assessment of EasyFi's security from different angles:

Hardware Wallet Support

EasyFi does not offer a dedicated hardware wallet solution. However, users can store their EASY tokens in popular hardware wallets like Ledger and Trezor, which provide enhanced security by storing private keys offline.

Exchange Security

EASY is currently listed on several centralized exchanges (CEXs) and decentralized exchanges (DEXs). The security of these exchanges varies. It's important to choose reputable exchanges with strong security measures, such as two-factor authentication (2FA), cold storage for user funds, and regular security audits.

Token Address

The EASY token contract address on Ethereum is 0x7c248457d179b773fe3b05f8ebc29949aeb1f76f. It's crucial to verify the token address before sending any funds to ensure you're interacting with the legitimate contract. Additionally, always use caution when interacting with smart contracts and double-check transaction details before confirming.

How to Earn EASY Coins？

Deciding on whether to buy EASY tokens or any type of cryptocurrency largely depends on an individual's financial goals, risk tolerance, and knowledge of the crypto market. Here are some general observations:

1. Technology Enthusiasts: Those who are familiar with Layer 2 blockchain solutions and are interested in DeFi systems may find EASY appealing because it integrates these technologies.

2. Cryptocurrency Traders: Active crypto traders who have understanding of market volatility may consider adding EASY to their portfolio, as they can utilize the various exchanges where EASY is listed.

3. Long-Term Investors: Individuals who believe in the long-term potential of DeFi solutions and Layer 2 blockchains might see EASY as a potential investment.

FAQs

Q: What role does EASY aim to play in Decentralized Finance (DeFi)？

A: EASY, designed with DeFi systems in mind, seeks to serve as a medium of value exchange within various DeFi protocols.

Q: Which cryptocurrency exchanges support the trading of EASY？

A: Several exchanges facilitate the trading of EASY, including popular platforms like Binance, Uniswap, CoinDCX, and Poloniex.

Q: How can I store my EASY tokens securely？

A: EASY tokens can be securely stored in ERC-20 compatible wallets, such as MetaMask, Trust Wallet, Ledger, and Trezor.

Q: Are there risks associated with investing in EASY？

A: Like other cryptocurrencies, EASY is subject to market volatility and other influences, necessitating thorough research and careful considerations before investing.

Q: Does EASY have any unique features that differentiate it from other cryptocurrencies？

A: EASY differentiates itself via its Layer 2 blockchain structure and potential integration capabilities with DeFi systems.

Q: What wallets can I use to store EASY？

A: You can store EASY in various types of wallets, including web wallets like MetaMask, mobile wallets such as Trust Wallet, and hardware wallets like Ledger and Trezor.