Thailand’s SEC Bans Crypto Lending Services

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One of the main properties advanced in blockchain technology is interoperability, the art of different blockchains communicating with one another. Interoperability is crucial when it comes to exchanging data and assets such as nonfungible tokens (NFTs) or cryptocurrencies while enjoying the best of two or more platforms to save on fees, for example, or transact faster.

The blockchain is an interoperable, versatile platform and cryptocurrency network that addresses scalability, security and decentralization issues with a unique proof-of-stake (PoS) governance type. It was developed by Ava Labs, a New York-based research and development company, to launch decentralized finance (DeFi) and enterprise blockchain applications.

  1. Install the MetaMask Chrome extension and click “Get Started” on the MetaMask welcome page.
  2. You can import your existing cryptocurrency wallet, but you’ll need to enter the wallet seed phrase; then click on the “Import wallet” option.
  3. You can also set up a new wallet by clicking on the “Create a wallet” button. Here, you must create a secure password to access the wallet from your device.
  4. Essential information about your seed phrase will be displayed on the next page, and you’ll have to pay particular attention to it. The seed phrase, or recovery phrase, is a crucial security feature and backup for your cryptocurrency wallet. It will allow you to access your wallet with your tokens even if you lose or forget your password.
  5. Next, click on the lock button to view the seed phrase. Take note of the words in the proper order, store them securely offline, and never share them with anyone. Your assets may be at risk if someone compromises your device and gets access to your seed phrase.
  6. The system will ask you to repeat the seed phrase on the next page; make sure you select the words in the correct order.
  7. Click “Confirm” to finish and then “All Done” to access your new wallet.
  1. Log in to your Avalanche wallet and transfer your tokens to the C-Chain blockchain if they reside on the P- or X-Chain blockchains.
  2. Simply click “Cross Chain” on the left menu bar and select “C-Chain” as the destination chain.
  3. Enter the amount you wish to transfer and click “Confirm.” A small transaction fee will be added to the final amount.
  4. You can now send the AVAX coins to MetaMask by clicking on “Send” from the left menu.
  5. Select “C Contract” as the source chain and enter the amount you want to send to MetaMask.
  6. Now go to your MetaMask wallet and copy the address, which you will paste into the Avalanche wallet in the “To Address” field.
  7. Check whether you have sufficient gas for the transaction fee.
  8. Confirm and finalize the transaction.
  9. Once the transaction is confirmed, you will be able to view the AVAX coins in your MetaMask wallet.