$40M Bitcoin Auction Next Week May Cause a Bitcoin Flash Crash, Data Shows
The US Marshals Service is preparing to auction around 4,000 of seized BTC (+$40 million). Previous sales have coincided with an aggressive down wick on Bitcoin price charts.
The sale will take place on February 18. There may, therefore, be an opportunity coming up to get exposure to Bitcoin cheap next week, even if you didn’t register to take part in the auction itself.
Will US Marshals Auction Prompt Another Bitcoin Dump?
Highlighting the sudden market crashes coinciding with the US Marshals’s prior auctions is Twitter user Trade or Die (@TradeorDie31). On the below chart, they demonstrate three other instances that saw a violent down wick.
The first two are January 11 and January 22. The government agency auctioned more than 3,813 Bitcoin in a sale that took place across the two dates.
The next is March 19 2018. On this occasion, the US Marshals auctioned 2,170 Bitcoin.
US Auction 4000 #BTC On Feb 18th, 2020. Every time the US has come out with an auction, they've got the market to wick down and slam it up a few 100 Points. Gear up for the dips, it's just an opportunity to buy. Idea Generator : @SalsaTekila Mark the date pic.twitter.com/00rIHBbbIi\ — Trade or Die (@TradeorDie31) February 12, 2020
The agency will hold another auction on February 18. It will sell a series of four different sized lots of Bitcoin. Five lots of 500 BTC are available, as well as 10 lots of 50 and 100 BTC. Buyers can also pick up the remaining 40.54069820 as part of a 26th lot.
According to a post to the US Marshals website, the agency seized the BTC from a substantial number of federal, civil, and administrative cases. To stand a chance of picking up some of the BTC at auction, you must have already registered for the sale.
Will the Auction Create Another Great BTC Buying Opportunity?
With the auction demanding attendees pay a $200,000 deposit and the market value of the smallest lot being more than double that figure, US Marshals don’t just let anyone buy their seized Bitcoin. To give you an idea of the kind of clientele likely in attendance, billionaire tech investor Tim Draper picked a sizeable chunk of his own Bitcoin position up from an early auction in 2014.
That said, you may still be able to take advantage of the sale without even being there, if past price action repeats. As Trade or Die comments, the market may well create a great entry point next Tuesday:
“Gear up for the dips, it’s just an opportunity to buy.”
Although the flash crash phenomena does not line up with every US Marshals sale of Bitcoin (the agency has auctioned BTC since at least 2014 and made additional sales more recently than documented on the above chart), a few tactically placed buying orders could well yield some rapid returns indeed.
The US Marshals Service is preparing to auction around 4,000 of seized BTC (+$40 million). Previous sales have coincided with an aggressive down wick on Bitcoin price charts.
The sale will take place on February 18. There may, therefore, be an opportunity coming up to get exposure to Bitcoin cheap next week, even if you didn’t register to take part in the auction itself.
Will US Marshals Auction Prompt Another Bitcoin Dump?
Highlighting the sudden market crashes coinciding with the US Marshals’s prior auctions is Twitter user Trade or Die (@TradeorDie31). On the below chart, they demonstrate three other instances that saw a violent down wick.
The first two are January 11 and January 22. The government agency auctioned more than 3,813 Bitcoin in a sale that took place across the two dates.
The next is March 19 2018. On this occasion, the US Marshals auctioned 2,170 Bitcoin.
US Auction 4000 #BTC On Feb 18th, 2020. Every time the US has come out with an auction, they've got the market to wick down and slam it up a few 100 Points. Gear up for the dips, it's just an opportunity to buy. Idea Generator : @SalsaTekila Mark the date pic.twitter.com/00rIHBbbIi\ — Trade or Die (@TradeorDie31) February 12, 2020
The agency will hold another auction on February 18. It will sell a series of four different sized lots of Bitcoin. Five lots of 500 BTC are available, as well as 10 lots of 50 and 100 BTC. Buyers can also pick up the remaining 40.54069820 as part of a 26th lot.
According to a post to the US Marshals website, the agency seized the BTC from a substantial number of federal, civil, and administrative cases. To stand a chance of picking up some of the BTC at auction, you must have already registered for the sale.
Will the Auction Create Another Great BTC Buying Opportunity?
With the auction demanding attendees pay a $200,000 deposit and the market value of the smallest lot being more than double that figure, US Marshals don’t just let anyone buy their seized Bitcoin. To give you an idea of the kind of clientele likely in attendance, billionaire tech investor Tim Draper picked a sizeable chunk of his own Bitcoin position up from an early auction in 2014.
That said, you may still be able to take advantage of the sale without even being there, if past price action repeats. As Trade or Die comments, the market may well create a great entry point next Tuesday:
“Gear up for the dips, it’s just an opportunity to buy.”
Although the flash crash phenomena does not line up with every US Marshals sale of Bitcoin (the agency has auctioned BTC since at least 2014 and made additional sales more recently than documented on the above chart), a few tactically placed buying orders could well yield some rapid returns indeed.
Largest Blockchain Social Media Steemit Joining TRON’s Ecosystem
The world’s largest decentralized and blockchain-based social media, as well as a blogging platform, Steemit, announced a strategic partnership with the TRON foundation.
Steemit Joining TRON Ecosystem
The largest decentralized blockchain-based social media and popular blogging platform, Steemit, announced in a shared press release with Cryptopotato, a strategic partnership with the TRON foundation.
The development teams of both companies will begin working together immediately to bring Steem blockchain-based apps and Steemit to TRON’s blockchain and its community of more than 20 million users, services, and products.
According to the release, TRON Foundation and Steemit will be working together in order to create more value for their users, as well as to augment their advancements in decentralized technology.
The old STEEM token will be transitioned to a new TRON-based STEEM token. There will be a giveaway to existing TRX users who will receive the STEEM token that’s based on TRON’s network. There will also be an accelerator program for the developer community.
Decentralized Social Networks
Commenting on the matter was Justin Sun, founder of TRON and also CEO of BitTorrent. He said:
We are very excited to welcome Steemit into the TRON ecosystem. Together we will usher in a new era of decentralized social networking.
Steemit is a Reddit-like platform where cryptocurrencies could be distributed as likes and upvotes. This is something that could bring further adoption of blockchain-based technologies, especially after recent events.
Just yesterday, the Twitter account of the popular cryptocurrency commentator and Bitcoin permabull Anthony ‘Pomp’ Pompliano was temporarily unavailable.
Moreover, not a while ago, Cryptopotato reported that the world’s largest video content sharing platform, YouTube, penalized and even flat-out removed content related to cryptocurrencies. This had the community discussing on whether or not a decentralized alternative is needed. It also showcased the drawbacks of censorship and the fact that a single authority has control over network participants.
The world’s largest decentralized and blockchain-based social media, as well as a blogging platform, Steemit, announced a strategic partnership with the TRON foundation.
Steemit Joining TRON Ecosystem
The largest decentralized blockchain-based social media and popular blogging platform, Steemit, announced in a shared press release with Cryptopotato, a strategic partnership with the TRON foundation.
The development teams of both companies will begin working together immediately to bring Steem blockchain-based apps and Steemit to TRON’s blockchain and its community of more than 20 million users, services, and products.
According to the release, TRON Foundation and Steemit will be working together in order to create more value for their users, as well as to augment their advancements in decentralized technology.
The old STEEM token will be transitioned to a new TRON-based STEEM token. There will be a giveaway to existing TRX users who will receive the STEEM token that’s based on TRON’s network. There will also be an accelerator program for the developer community.
Decentralized Social Networks
Commenting on the matter was Justin Sun, founder of TRON and also CEO of BitTorrent. He said:
We are very excited to welcome Steemit into the TRON ecosystem. Together we will usher in a new era of decentralized social networking.
Steemit is a Reddit-like platform where cryptocurrencies could be distributed as likes and upvotes. This is something that could bring further adoption of blockchain-based technologies, especially after recent events.
Just yesterday, the Twitter account of the popular cryptocurrency commentator and Bitcoin permabull Anthony ‘Pomp’ Pompliano was temporarily unavailable.
Moreover, not a while ago, Cryptopotato reported that the world’s largest video content sharing platform, YouTube, penalized and even flat-out removed content related to cryptocurrencies. This had the community discussing on whether or not a decentralized alternative is needed. It also showcased the drawbacks of censorship and the fact that a single authority has control over network participants.
Belgian Finance Regulators Draft Out Crypto Regulations
Senator Jean-Paul Servais, the chairman of the Financial Services and Markets Authority (FSMA), announced during a Senate hearing in Belgium that FSMA had made strategic discussions with the government of Belgium concerning the imposition of regulatory measures on the use of digital currencies for transactions. The regulatory watchdog is planning to keep a check on the widescale adoption of cryptocurrencies in the country.
According to official reports, the leader urged the lawmakers to chalk out a systematic legal framework for the sale, purchase, and management of cryptocurrencies along with all related financial offerings. During his address, Jean-Paul mentioned the regulatory mechanism working in major countries like Russia, China, Argentina, and Algeria. He clarified that Belgium needs to draft out a well-defined regulatory system similar to the above-mentioned countries that have maintained a clear-cut attitude towards cryptocurrencies by either supporting them through a legal ecosystem or banning them completely.
Jean-Paul stated that the Belgian government has failed to cater to the requirements of the crypto industry that is being welcomed with open arms all around the world. At present, the virtual currencies are burgeoning at a fast pace with more than a thousand currencies ruling the marketspace, stated Paul-Jean. He added that this situation is creating an unfavorable ecosystem for the Belgium economy and is likely to pose a threat for the investors if not controlled on time.
“Due to their non-traceability, Bitcoins and other virtual currencies popular in the context of cybercrime ain’t ubiquitous on the darknet, since they can become cybercrime committed without leaving traces. A legal framework should be established without delay for virtual money and related financial products. It’ll help protect consumers and the use of this virtual currency for criminal objectives.” read the official resolution of the agency. The agency resolution also highlighted the warnings given by the economists and Nobel laureates from around the world regarding the fast boom of cryptocurrencies.
The resolution addressed a royal decree from 2014, which barred any professional solutions dealing with virtual currencies from offering to the retail investors.
This is not for the first time that the regulatory authorities of a country are showing their concerns towards crypto proliferation. In the past, a Switzerland-based regulatory body imposed a restriction on the amount of digital currency to be held by a person. Also, the Monetary Authority of Singapore recently unveiled new anti-money laundering and counter-terrorist financing rules and guidelines to keep a check on the crypto market.
Senator Jean-Paul Servais, the chairman of the Financial Services and Markets Authority (FSMA), announced during a Senate hearing in Belgium that FSMA had made strategic discussions with the government of Belgium concerning the imposition of regulatory measures on the use of digital currencies for transactions. The regulatory watchdog is planning to keep a check on the widescale adoption of cryptocurrencies in the country.
According to official reports, the leader urged the lawmakers to chalk out a systematic legal framework for the sale, purchase, and management of cryptocurrencies along with all related financial offerings. During his address, Jean-Paul mentioned the regulatory mechanism working in major countries like Russia, China, Argentina, and Algeria. He clarified that Belgium needs to draft out a well-defined regulatory system similar to the above-mentioned countries that have maintained a clear-cut attitude towards cryptocurrencies by either supporting them through a legal ecosystem or banning them completely.
Jean-Paul stated that the Belgian government has failed to cater to the requirements of the crypto industry that is being welcomed with open arms all around the world. At present, the virtual currencies are burgeoning at a fast pace with more than a thousand currencies ruling the marketspace, stated Paul-Jean. He added that this situation is creating an unfavorable ecosystem for the Belgium economy and is likely to pose a threat for the investors if not controlled on time.
“Due to their non-traceability, Bitcoins and other virtual currencies popular in the context of cybercrime ain’t ubiquitous on the darknet, since they can become cybercrime committed without leaving traces. A legal framework should be established without delay for virtual money and related financial products. It’ll help protect consumers and the use of this virtual currency for criminal objectives.” read the official resolution of the agency. The agency resolution also highlighted the warnings given by the economists and Nobel laureates from around the world regarding the fast boom of cryptocurrencies.
The resolution addressed a royal decree from 2014, which barred any professional solutions dealing with virtual currencies from offering to the retail investors.
This is not for the first time that the regulatory authorities of a country are showing their concerns towards crypto proliferation. In the past, a Switzerland-based regulatory body imposed a restriction on the amount of digital currency to be held by a person. Also, the Monetary Authority of Singapore recently unveiled new anti-money laundering and counter-terrorist financing rules and guidelines to keep a check on the crypto market.
Coronavirus Based Cryptocurrency CoronaCoin Enters the Crypto Market
In a rather strange and unfortunate event, CoronaCoin was launched on Sunday. Based on the ERC-20 protocol, the coin is backed by the deadly Coronavirus, which has already affected tens of thousands of people in China and elsewhere. As per a Reddit post, crypto users bet on the spread of the terrifying disease by investing in the CoronaCoin (NCOV). The NCOV token will become more and more valuable with the spread of the Coronavirus. The post further stated,
“CoronaCoin (NCOV) is a ERC20-compliant token. The total supply is based on the world population (7,604,953,650 NCOV) and the token will be burnt once every 48 hours depending on the number of infected people and fatalities, so the token is deflationary and also non-mintable.”
Coronavirus has been declared as a global emergency by the World Health Organization, and the situation is getting graver by the day. As of date, the virus, now known as COVID-19, has claimed more than 1700 lives, with more than 70,500 positive cases reported. Several millions of people have been quarantined in at least 15 cities throughout China, along with a quarantined cruise ship named Diamond Princess in the port city of Yokohama, Japan.
While the crypto community members like Binance, TRON, Qtum, etc. are taking measures to help the victims, releasing a token that wants people to bet on the spread of the virus is absolutely disgusting. As per the NCOV’s website, a portion of the funds will be donated to Red Cross to help those infected with COVID-19, though no specific number is given.
However, if the intention is to help the victims, there are several other ways to do so instead of encouraging investors to hope that more people get infected so that the value of their holdings rise. The company is also running an airdrop for the CoronaCoin, and each new user address will get 100 NCOV each. The token is available for sale on trading platforms like Saturn, Forkdelta, LogicDex, McAfee DEX, Uniswap, Etherdelta, Tokenjar, and VAYLADEX.
The coronavirus is already turning out to be a big threat to the crypto industry, with operations and volumes expected to experience serious hits. The disease is showing no signs of slowing down, and new cases from around the globe are being reported every day. Apart from China, the Coronavirus has been reported from countries like Japan, Germany, Thailand, Taiwan, South Korea, India, France, the US, the UK, etc., though most of the victims had visited China during or just before the outbreak.
In a rather strange and unfortunate event, CoronaCoin was launched on Sunday. Based on the ERC-20 protocol, the coin is backed by the deadly Coronavirus, which has already affected tens of thousands of people in China and elsewhere. As per a Reddit post, crypto users bet on the spread of the terrifying disease by investing in the CoronaCoin (NCOV). The NCOV token will become more and more valuable with the spread of the Coronavirus. The post further stated,
“CoronaCoin (NCOV) is a ERC20-compliant token. The total supply is based on the world population (7,604,953,650 NCOV) and the token will be burnt once every 48 hours depending on the number of infected people and fatalities, so the token is deflationary and also non-mintable.”
Coronavirus has been declared as a global emergency by the World Health Organization, and the situation is getting graver by the day. As of date, the virus, now known as COVID-19, has claimed more than 1700 lives, with more than 70,500 positive cases reported. Several millions of people have been quarantined in at least 15 cities throughout China, along with a quarantined cruise ship named Diamond Princess in the port city of Yokohama, Japan.
While the crypto community members like Binance, TRON, Qtum, etc. are taking measures to help the victims, releasing a token that wants people to bet on the spread of the virus is absolutely disgusting. As per the NCOV’s website, a portion of the funds will be donated to Red Cross to help those infected with COVID-19, though no specific number is given.
However, if the intention is to help the victims, there are several other ways to do so instead of encouraging investors to hope that more people get infected so that the value of their holdings rise. The company is also running an airdrop for the CoronaCoin, and each new user address will get 100 NCOV each. The token is available for sale on trading platforms like Saturn, Forkdelta, LogicDex, McAfee DEX, Uniswap, Etherdelta, Tokenjar, and VAYLADEX.
The coronavirus is already turning out to be a big threat to the crypto industry, with operations and volumes expected to experience serious hits. The disease is showing no signs of slowing down, and new cases from around the globe are being reported every day. Apart from China, the Coronavirus has been reported from countries like Japan, Germany, Thailand, Taiwan, South Korea, India, France, the US, the UK, etc., though most of the victims had visited China during or just before the outbreak.
Coinbase Commerce Introduces DAI Stablecoin on the Network
Crypto payments network Coinbase Commerce announced on Thursday that it had launched the DAI Stablecoin on the platform. Merchants will now be able to accept DAI payments via the platform’s own API and the 12 e-commerce partners.
According to an official blog post on Medium, merchants can accept DAI payments by linking their online stores to a Coinbase Commerce checkout or by using the point-of-sale interface. The company introduced DAI as a tradable token on the network in May 2019, and with the recent development, it is clear that the company has a clear focus on bringing stablecoins on board.
Further, it said,
“Stablecoins like DAI and USDC provide a less volatile means of storing cryptocurrency, tied to the value of fiat currency rather than the speculations of the crypto markets. Enabling these options on Coinbase Commerce means merchants and customers can take advantage of buying and selling goods worldwide with the added benefit of holding stable currency value on a decentralized network.”
Coinbase Commerce is the payments focused branch of the global leading crypto exchange Coinbase. The network aims to make crypto payments easy and accessible to the masses, and therefore the network claims to take heavy inspirations from customer feedback. Crypto payments as a segment are expected to be the future of the industry, especially when the myth that “crypto can get you easy and quick money” is fading away fairly quickly.
Crypto payments network Coinbase Commerce announced on Thursday that it had launched the DAI Stablecoin on the platform. Merchants will now be able to accept DAI payments via the platform’s own API and the 12 e-commerce partners.
According to an official blog post on Medium, merchants can accept DAI payments by linking their online stores to a Coinbase Commerce checkout or by using the point-of-sale interface. The company introduced DAI as a tradable token on the network in May 2019, and with the recent development, it is clear that the company has a clear focus on bringing stablecoins on board.
Further, it said,
“Stablecoins like DAI and USDC provide a less volatile means of storing cryptocurrency, tied to the value of fiat currency rather than the speculations of the crypto markets. Enabling these options on Coinbase Commerce means merchants and customers can take advantage of buying and selling goods worldwide with the added benefit of holding stable currency value on a decentralized network.”
Coinbase Commerce is the payments focused branch of the global leading crypto exchange Coinbase. The network aims to make crypto payments easy and accessible to the masses, and therefore the network claims to take heavy inspirations from customer feedback. Crypto payments as a segment are expected to be the future of the industry, especially when the myth that “crypto can get you easy and quick money” is fading away fairly quickly.
CipherTrace Releases Anti-Money Laundering Report for Q4 2019
Crypto-blockchain forensic project CipherTrace has released the anti-money laundering report for the last quarter of 2019, and the results are saddening, to say the least. The results indicate that the doubts raised by politicians globally are not mere speculations, but have a certain level of truth in them.
As per the report, there has been a sharp rise in cases of fraud and misrepresentation in the industry, with a year-on-year jump of an insane 533%. The industry incurred a total loss of a whopping $4.5 billion, which includes about $370.7 million of value lost in exchange thefts and hacks.
For the fourth quarter, the report listed a major fraud by Canadian crypto exchange Einstein, amounting to $12 million, which the infamous exchange executed via an exit scam. Likewise, the report also included the $70 million misappropriations of funds after its CEO of the Chinese exchange IDAX disappeared. CipherTrace also sheds light on the role of the banking sector in crypto-related doubtful activities. It said,
“In Q4 2019, CipherTrace Labs released results of a major study that found almost all the top 10 U.S. retail banks have illicit cryptocurrency MSBs—including crypto exchanges—transmitting funds on their payment networks. Analysis further revealed that a typical large U.S. bank processes billion annually in undetected cryptocurrency-related transfers. These clandestine operations create AML compliance risks because criminals must find ways to launder ill-gotten crypto profits.”
If the report is anything to go by, those who criticized the US Congress members for accusing the crypto industry of unlawful activities will have to reassess their stand. Last year, US President Donald Trump had accused cryptocurrencies of being the tool that facilitates anti-social activities like money laundering, however, he received strong backlash from the community. Contrastingly, the report supports the claims of anti-Bitcoin politicians.
All that said, the crypto industry is just about a decade old and is currently in a transition from being a “fast & easy money-making sector” to becoming a mature industry. Despite all this, the fraud in the crypto industry on a whole remains significantly lower than that in the traditional banking sector. For instance, as per a report published in Business Standard in August 2019, bank frauds for 2018-2019 in India alone stood at INR 71,543 crores, roughly more than $10 billion, a 74% increase from the previous year. This gives an idea regarding the global scenario in the banking sector.
Comparatively, the crypto industry, valued at $293 billion, is a dwarf as compared to the traditional banking industry ($7.2 trillion market cap). Still, the amount of fraud has risen significantly in all the financial segments, and singling out the crypto industry and accusing it on anti-social influence is not the right thing to do.
Crypto-blockchain forensic project CipherTrace has released the anti-money laundering report for the last quarter of 2019, and the results are saddening, to say the least. The results indicate that the doubts raised by politicians globally are not mere speculations, but have a certain level of truth in them.
As per the report, there has been a sharp rise in cases of fraud and misrepresentation in the industry, with a year-on-year jump of an insane 533%. The industry incurred a total loss of a whopping $4.5 billion, which includes about $370.7 million of value lost in exchange thefts and hacks.
For the fourth quarter, the report listed a major fraud by Canadian crypto exchange Einstein, amounting to $12 million, which the infamous exchange executed via an exit scam. Likewise, the report also included the $70 million misappropriations of funds after its CEO of the Chinese exchange IDAX disappeared. CipherTrace also sheds light on the role of the banking sector in crypto-related doubtful activities. It said,
“In Q4 2019, CipherTrace Labs released results of a major study that found almost all the top 10 U.S. retail banks have illicit cryptocurrency MSBs—including crypto exchanges—transmitting funds on their payment networks. Analysis further revealed that a typical large U.S. bank processes billion annually in undetected cryptocurrency-related transfers. These clandestine operations create AML compliance risks because criminals must find ways to launder ill-gotten crypto profits.”
If the report is anything to go by, those who criticized the US Congress members for accusing the crypto industry of unlawful activities will have to reassess their stand. Last year, US President Donald Trump had accused cryptocurrencies of being the tool that facilitates anti-social activities like money laundering, however, he received strong backlash from the community. Contrastingly, the report supports the claims of anti-Bitcoin politicians.
All that said, the crypto industry is just about a decade old and is currently in a transition from being a “fast & easy money-making sector” to becoming a mature industry. Despite all this, the fraud in the crypto industry on a whole remains significantly lower than that in the traditional banking sector. For instance, as per a report published in Business Standard in August 2019, bank frauds for 2018-2019 in India alone stood at INR 71,543 crores, roughly more than $10 billion, a 74% increase from the previous year. This gives an idea regarding the global scenario in the banking sector.
Comparatively, the crypto industry, valued at $293 billion, is a dwarf as compared to the traditional banking industry ($7.2 trillion market cap). Still, the amount of fraud has risen significantly in all the financial segments, and singling out the crypto industry and accusing it on anti-social influence is not the right thing to do.
CoinJar: A Perfect Partner For Crypto Transactions
Cryptocurrencies have successfully completed a decade of run in the financial space. What was introduced as a means of payment settlement during the time of the global recession, has now become an unprecedented part of an array of industrial domains. Today, the most renowned names of the business arena, as well as the biggest enterprises and firms, are now showing trust in virtual currencies as the perfect solution replacing the traditional payment systems existing in the economy up until now. The race to carve out the best crypto-based solutions and projects for the investors has led to massive development in the industry.
With the marketplace being flooded with firms facilitating trading activities related to crypto, CoinJar has managed to make its special place in the hearts of the investors through its revolutionary offerings and seamless interface enhancing user experience at every step. Based in Australia, CoinJar Exchange shines as the fastest crypto exchange in the country. It takes pride in being a one-stop solution for the investors by offering them exposure to the best trading network of all levels. It worked effortlessly well in terms of privacy and secure settlement of transactions for traders irrespective of their investment size or demographic conditions. The OTC trading desk of the crypto exchange supports big volume transactions with high-grade security and transparency, which eventually strengthens the trust of customers on the CoinJar platform.
The globally reputed platform renders the customers with a golden opportunity to manage their digital currency portfolio on their desktop as well as mobiles depending upon their convenience. The simplified sign up process of CoinJar helps the investors to enjoy access to their virtual assets anywhere and at any time. Crypto-based institutions are given a fair chance to have access to digital assets and deep liquidity. CoinJar is playing a major role in boosting the crypto adoption rate in Australia through its world-class wallet services. CoinJar Swipe is a revolutionary cryptocurrency debit card which aids investors to indulge in transactions in cryptos at any place accepting EFTPOS in the country. The card is easily accessible through the CoinJar iOS and the Android app.
Prominent Features of CoinJar Products
One of the prime features of the CoinJar network is its ability to support both fiat as well as virtual currencies in the most secure manner.
Just by downloading the app, the investors get the freedom to keep track of their smallest as well as their biggest transactions for monitoring purposes.
One can enjoy competitive volume-based fees on the exchange, which can be as low as zero percent. The trading fee for buying and selling of cryptocurrencies is 1% which makes the exchange a perfect choice for even the small investors.
For customers paying through PayID or BPAY, the exchange charges no deposit fees. While withdrawing AUD to a bank account, the investors need not pay any fee charges.
The network helps the customers to set up price alerts as per their convenience. Also, one can keep a thorough check on the market price fluctuations.
CoinJar promises that nearly 90% of the customers’ virtual currencies are stored offline safely in geographically secured locations. It uses the multi-sig feature to safeguard assets that are stored online.
Cryptocurrencies have successfully completed a decade of run in the financial space. What was introduced as a means of payment settlement during the time of the global recession, has now become an unprecedented part of an array of industrial domains. Today, the most renowned names of the business arena, as well as the biggest enterprises and firms, are now showing trust in virtual currencies as the perfect solution replacing the traditional payment systems existing in the economy up until now. The race to carve out the best crypto-based solutions and projects for the investors has led to massive development in the industry.
With the marketplace being flooded with firms facilitating trading activities related to crypto, CoinJar has managed to make its special place in the hearts of the investors through its revolutionary offerings and seamless interface enhancing user experience at every step. Based in Australia, CoinJar Exchange shines as the fastest crypto exchange in the country. It takes pride in being a one-stop solution for the investors by offering them exposure to the best trading network of all levels. It worked effortlessly well in terms of privacy and secure settlement of transactions for traders irrespective of their investment size or demographic conditions. The OTC trading desk of the crypto exchange supports big volume transactions with high-grade security and transparency, which eventually strengthens the trust of customers on the CoinJar platform.
The globally reputed platform renders the customers with a golden opportunity to manage their digital currency portfolio on their desktop as well as mobiles depending upon their convenience. The simplified sign up process of CoinJar helps the investors to enjoy access to their virtual assets anywhere and at any time. Crypto-based institutions are given a fair chance to have access to digital assets and deep liquidity. CoinJar is playing a major role in boosting the crypto adoption rate in Australia through its world-class wallet services. CoinJar Swipe is a revolutionary cryptocurrency debit card which aids investors to indulge in transactions in cryptos at any place accepting EFTPOS in the country. The card is easily accessible through the CoinJar iOS and the Android app.
Prominent Features of CoinJar Products
One of the prime features of the CoinJar network is its ability to support both fiat as well as virtual currencies in the most secure manner.
Just by downloading the app, the investors get the freedom to keep track of their smallest as well as their biggest transactions for monitoring purposes.
One can enjoy competitive volume-based fees on the exchange, which can be as low as zero percent. The trading fee for buying and selling of cryptocurrencies is 1% which makes the exchange a perfect choice for even the small investors.
For customers paying through PayID or BPAY, the exchange charges no deposit fees. While withdrawing AUD to a bank account, the investors need not pay any fee charges.
The network helps the customers to set up price alerts as per their convenience. Also, one can keep a thorough check on the market price fluctuations.
CoinJar promises that nearly 90% of the customers’ virtual currencies are stored offline safely in geographically secured locations. It uses the multi-sig feature to safeguard assets that are stored online.
Shopify Becomes the Latest Firm to Join Libra Association
Shopify, the Canada-based globally acclaimed e-commerce firm, has taken the crypto community in a blow through its official announcement celebrating its entry in Libra Association, which serves as the backbone for Facebook’s highly controversial stablecoin project, Libra. The news is like a spring shower for the Libra project, as the Libra Association had witnessed back-out from many of its earlier partners, including eBay, Visa, Stripe, etc. in the past few months. The news was announced in the crypto community on February 21, 2020.
According to the official announcement, as part of its addition to the Libra Association, Shopify will make an investment of nearly $10 Million and will also operate a node that will process transactions for Libra stablecoin after its release. Through Libra implementation, Shopify would process transactions without the payment of credit card fees owing to the fact that Libra has been designed to work between wallets with negligible fee charges. The integration between Libra and Shopify is likely to save hard-earned money of Shopify as well as one million merchants operating online shops on the platform. This served as a prime reason for Shopify’s addition to the Libra Association.
The current Libra Association partners include: Facebook’s Calibra, Shopify, PayU, Farfetch, Lyft, Spotify, Uber, Illiad SA, Anchorage, Bison Trails, Coinbase, Xapo, Andreessen Horowitz, Union Square Ventures, Breakthrough Initiatives, Ribbit Capital, Thrive Capital, Creative Destruction Lab, Kiva, Mercy Corps, Women’s World Banking.
“Our mission has always been to support the entrepreneurial journey of the more than one million merchants on our platform. That means advocating for transparent fees and easy access to capital and ensuring the security and privacy of our merchants’ customer data. We want to create an infrastructure that empowers more entrepreneurs around the world,” read Shopify’s statement.
Shopify will be given the power of one vote on the Libra Association council and will be subjected to earn dividends from interest earned on the Libra reserve in proportion to its investment.
Libra had been under stringent scrutiny of the regulatory bodies worldwide ever since the news about its launch surfaced on the platform last year. Governments from across the world fear the loss of sovereignty of the native currencies in a big way after the launch of Libra, citing the widescale customer approach of the social media giant, Facebook. Also, regulatory authorities doubt Libra to play a major role in terror financing and other illicit transactions. However, Libra Association has constantly tried to convince the regulators by saying that Libra is secured, safe, and transparent.
“Shopify spends a lot of time thinking about how to make commerce better in parts of the world where money and banking could be far better. That’s why we decided to become a member of the Libra Association,” stated Tobi Lutke, CEO of Shopify.
Shopify, the Canada-based globally acclaimed e-commerce firm, has taken the crypto community in a blow through its official announcement celebrating its entry in Libra Association, which serves as the backbone for Facebook’s highly controversial stablecoin project, Libra. The news is like a spring shower for the Libra project, as the Libra Association had witnessed back-out from many of its earlier partners, including eBay, Visa, Stripe, etc. in the past few months. The news was announced in the crypto community on February 21, 2020.
According to the official announcement, as part of its addition to the Libra Association, Shopify will make an investment of nearly $10 Million and will also operate a node that will process transactions for Libra stablecoin after its release. Through Libra implementation, Shopify would process transactions without the payment of credit card fees owing to the fact that Libra has been designed to work between wallets with negligible fee charges. The integration between Libra and Shopify is likely to save hard-earned money of Shopify as well as one million merchants operating online shops on the platform. This served as a prime reason for Shopify’s addition to the Libra Association.
The current Libra Association partners include: Facebook’s Calibra, Shopify, PayU, Farfetch, Lyft, Spotify, Uber, Illiad SA, Anchorage, Bison Trails, Coinbase, Xapo, Andreessen Horowitz, Union Square Ventures, Breakthrough Initiatives, Ribbit Capital, Thrive Capital, Creative Destruction Lab, Kiva, Mercy Corps, Women’s World Banking.
“Our mission has always been to support the entrepreneurial journey of the more than one million merchants on our platform. That means advocating for transparent fees and easy access to capital and ensuring the security and privacy of our merchants’ customer data. We want to create an infrastructure that empowers more entrepreneurs around the world,” read Shopify’s statement.
Shopify will be given the power of one vote on the Libra Association council and will be subjected to earn dividends from interest earned on the Libra reserve in proportion to its investment.
Libra had been under stringent scrutiny of the regulatory bodies worldwide ever since the news about its launch surfaced on the platform last year. Governments from across the world fear the loss of sovereignty of the native currencies in a big way after the launch of Libra, citing the widescale customer approach of the social media giant, Facebook. Also, regulatory authorities doubt Libra to play a major role in terror financing and other illicit transactions. However, Libra Association has constantly tried to convince the regulators by saying that Libra is secured, safe, and transparent.
“Shopify spends a lot of time thinking about how to make commerce better in parts of the world where money and banking could be far better. That’s why we decided to become a member of the Libra Association,” stated Tobi Lutke, CEO of Shopify.
South Korean Startup Contents Protocol Team Announces Closure
Contents Protocol Team, a South Korea-based startup firm, has shocked the crypto community by announcing that it has decided to stop its operations in the country and shall be refunding the investors in the near future. The sudden announcement has taken the firm’s investors in a blow as the firm recently organized an ICO and private token sale in 2018 and raised a total of 29,334 ETH which amounted to $8.15 Million in worth. ETH at that time stood at a price of $115 which set the firm’s worth to nearly $3.40 Million.
According to the announcement made by the Contents Protocol team, the firm has taken the decision citing the lack of business prospects, opportunities in the crypto sector. The leaders also blamed the aggressively growing regulatory uncertainty in the crypto arena for the unfavorable decision taken by the team. Uncertain legal and accounting risks can also be held responsible for Contents Protocol fallout.
Contents Protocol platform was designed to gather consumer data from local content entities such as Watcha, which is a Korea-based movie rating and recommendations app and Watcha Play, which serves as a local online movie streaming service similar to the renowned binge-watching platform, Netflix. After collecting the data, the firm would reward Watcha and Watcha Play platforms along with their users with the Content Protocol’s native token CPT. It also opined to sell the gathered data to content producers for enhancing the overall content production ecosystem. However, the plan didn’t go in support of the organization and failed miserably.
“There were numerous difficulties in encouraging participation from content consumers because of their negative perception toward cryptocurrency, price volatility and complex user experience. It was also a challenge to bring in content platforms which would provide data to Contents Protocol. With limited capacity in data collection, it was difficult to provide useful insight that could help content producers,” cited the firm.
Contents Protocol Team, a South Korea-based startup firm, has shocked the crypto community by announcing that it has decided to stop its operations in the country and shall be refunding the investors in the near future. The sudden announcement has taken the firm’s investors in a blow as the firm recently organized an ICO and private token sale in 2018 and raised a total of 29,334 ETH which amounted to $8.15 Million in worth. ETH at that time stood at a price of $115 which set the firm’s worth to nearly $3.40 Million.
According to the announcement made by the Contents Protocol team, the firm has taken the decision citing the lack of business prospects, opportunities in the crypto sector. The leaders also blamed the aggressively growing regulatory uncertainty in the crypto arena for the unfavorable decision taken by the team. Uncertain legal and accounting risks can also be held responsible for Contents Protocol fallout.
Contents Protocol platform was designed to gather consumer data from local content entities such as Watcha, which is a Korea-based movie rating and recommendations app and Watcha Play, which serves as a local online movie streaming service similar to the renowned binge-watching platform, Netflix. After collecting the data, the firm would reward Watcha and Watcha Play platforms along with their users with the Content Protocol’s native token CPT. It also opined to sell the gathered data to content producers for enhancing the overall content production ecosystem. However, the plan didn’t go in support of the organization and failed miserably.
“There were numerous difficulties in encouraging participation from content consumers because of their negative perception toward cryptocurrency, price volatility and complex user experience. It was also a challenge to bring in content platforms which would provide data to Contents Protocol. With limited capacity in data collection, it was difficult to provide useful insight that could help content producers,” cited the firm.
Infinito Wallet Joins Hands With Simplex To Serve Crypto Community
Serving the crypto community with its world-class tools, the Infinito Wallet has announced the news about its strategic collaboration with renowned EU licensed fintech company, Simplex. The integration between the two leading firms will help the users to purchase cryptocurrencies via credit and debit cards inside the wallet itself. As a part of the promotional initiative, the customers will be subjected to a 50% discount on service fees on using the wallet’s Buy Crypto option between February 14, 2020, to February 27, 2020.
Infinito Wallet is a highly acclaimed multi-crypto wallet that facilitates users to indulge in crypto-based transactions at their convenience. Presently, the network supports more than 2,000 top-rated coins and tokens along with an array of decentralized applications. The efficient services and tools offered by the wallet, makes it shine as one of the best wallets for crypto lovers across the globe.
One of the prime reasons for which Infinito has teamed up with Simplex is to allow the users to enjoy access to a revolutionary interface through which users can purchase and safeguard their virtual assets in the best possible manner. The users do not have to bear the burden of unwanted transaction fee charges, which are common during the movement of money back and forth between wallet and exchange networks.
In earlier times, investors had to make their purchases on centralized exchanges that were studded with several loopholes. To protect the funds, the traders were advised to keep a portion of their assets on the exchanges and the other half on a mobile wallet. Infinito Wallet aims to drive away from this unfavorable and risky situation for the customers through its services focused towards the high-grade secured environment.
“Thanks to the strategic partnership with Simplex, our users can now purchase Bitcoin and other top cryptocurrencies using their everyday credit card at great price. With this integration, Infinito Wallet can offer the most complete crypto experience for investors: buy their first coin, track market price, exchange, use their crypto to earn more with DApps, and soon, stake to earn passive income directly on the wallet. We’re very pleased to collaborate with an industry leader like Simplex to bring valuable crypto services to users worldwide,” stated Jack Nguyen, Director of Infinito.
Simplex has earned its place in the marketspace as a reputed brand for processing of credit card payments with a 100% zero chargeback guarantee. With its revolutionary fraud prevention mechanism and AI solutions, Simplex restrains the entry of fraudulent users and allows only legitimate customers to carry out transactions.
Serving the crypto community with its world-class tools, the Infinito Wallet has announced the news about its strategic collaboration with renowned EU licensed fintech company, Simplex. The integration between the two leading firms will help the users to purchase cryptocurrencies via credit and debit cards inside the wallet itself. As a part of the promotional initiative, the customers will be subjected to a 50% discount on service fees on using the wallet’s Buy Crypto option between February 14, 2020, to February 27, 2020.
Infinito Wallet is a highly acclaimed multi-crypto wallet that facilitates users to indulge in crypto-based transactions at their convenience. Presently, the network supports more than 2,000 top-rated coins and tokens along with an array of decentralized applications. The efficient services and tools offered by the wallet, makes it shine as one of the best wallets for crypto lovers across the globe.
One of the prime reasons for which Infinito has teamed up with Simplex is to allow the users to enjoy access to a revolutionary interface through which users can purchase and safeguard their virtual assets in the best possible manner. The users do not have to bear the burden of unwanted transaction fee charges, which are common during the movement of money back and forth between wallet and exchange networks.
In earlier times, investors had to make their purchases on centralized exchanges that were studded with several loopholes. To protect the funds, the traders were advised to keep a portion of their assets on the exchanges and the other half on a mobile wallet. Infinito Wallet aims to drive away from this unfavorable and risky situation for the customers through its services focused towards the high-grade secured environment.
“Thanks to the strategic partnership with Simplex, our users can now purchase Bitcoin and other top cryptocurrencies using their everyday credit card at great price. With this integration, Infinito Wallet can offer the most complete crypto experience for investors: buy their first coin, track market price, exchange, use their crypto to earn more with DApps, and soon, stake to earn passive income directly on the wallet. We’re very pleased to collaborate with an industry leader like Simplex to bring valuable crypto services to users worldwide,” stated Jack Nguyen, Director of Infinito.
Simplex has earned its place in the marketspace as a reputed brand for processing of credit card payments with a 100% zero chargeback guarantee. With its revolutionary fraud prevention mechanism and AI solutions, Simplex restrains the entry of fraudulent users and allows only legitimate customers to carry out transactions.
Take Your Digital Assets Investment to a New High With Cryptohopper
Investment in financial assets is a tedious task. It requires you to invest a considerable amount of your efforts in trading, and in the case of cryptocurrencies, you are required to keep track of their valuation in order to gain financial benefits out of your investment. The intensity of the effort required will be high when you simultaneously invest in a range of cryptocurrency assets.
Cryptohopper: A Name to Reckon with
Understanding the constant hassle of analyzing financial assets and keeping track of their performance, there are a few options available in the market in terms of automated trading accomplished by bots. Among these options, Cryptohopper is the most credible name which has found favor with millions of investors thanks to its exceptional service, intelligent automated trading features, and one-stop management of all cryptocurrency accounts.
Services and Features
The reason behind the popularity of Cryptohopper is not difficult to understand. The cloud-based automated trading bot purely works on the logic and takes out the emotional quotient that traders usually get influenced by while making their decisions. The biggest advantage of using the logic-based approach for trading manifests in the gains as the investors will realize better financial performance from their assets in the future.
Another important feature offered by the Cryptohopper is the one-stop management of all your cryptocurrency accounts. You can connect your exchange with the Cryptohopper and accordingly make investments in order to realize the convenience of managing all the accounts from one single place. It is particularly useful if you have accounts in a number of different exchanges.
The platform also offers the convenience of social trading and opportunities to collaborate with other investors in order to gain insights about investment in different digital assets. This collaboration opportunity can prove to be very useful in the long run, not only in terms of the investment but also in making new relationships and connections across the financial segments.
In order to make sound investment decisions, one essentially requires the help of some expert tools. Thanks to the range of expert options available on the Cryptohopper, you need not worry about logic and financial soundness of the decision making. You can choose from the market-making to market arbitrage and strategy designer to exchange arbitrage as all these options will help you to make a sound financial investment decision while maximizing the probability of getting decent returns.
If you are a new investor and have recently taken the plunge into the cryptocurrency trading, you can hone your skills on the cryptocurrency mastery tools offered by the Cryptohopper. You also get an option in order to check the effectiveness of the bot or your cryptocurrency investment strategies. This will help you to make an effective investment strategy and provide you a window of opportunity to keep making the necessary changes until you are assured about the effectiveness of your bot and its strategy.
What further adds to the credentials of the Cryptohopper is its close coordination and working mechanism with the regulatory agencies and exchanges around the globe. The security apparatus offered by the organization confirms the world-class levels of safety so that you rest assured about the privacy of your data as the platform will never share the personal data of investors with any third party.
Investment in financial assets is a tedious task. It requires you to invest a considerable amount of your efforts in trading, and in the case of cryptocurrencies, you are required to keep track of their valuation in order to gain financial benefits out of your investment. The intensity of the effort required will be high when you simultaneously invest in a range of cryptocurrency assets.
Cryptohopper: A Name to Reckon with
Understanding the constant hassle of analyzing financial assets and keeping track of their performance, there are a few options available in the market in terms of automated trading accomplished by bots. Among these options, Cryptohopper is the most credible name which has found favor with millions of investors thanks to its exceptional service, intelligent automated trading features, and one-stop management of all cryptocurrency accounts.
Services and Features
The reason behind the popularity of Cryptohopper is not difficult to understand. The cloud-based automated trading bot purely works on the logic and takes out the emotional quotient that traders usually get influenced by while making their decisions. The biggest advantage of using the logic-based approach for trading manifests in the gains as the investors will realize better financial performance from their assets in the future.
Another important feature offered by the Cryptohopper is the one-stop management of all your cryptocurrency accounts. You can connect your exchange with the Cryptohopper and accordingly make investments in order to realize the convenience of managing all the accounts from one single place. It is particularly useful if you have accounts in a number of different exchanges.
The platform also offers the convenience of social trading and opportunities to collaborate with other investors in order to gain insights about investment in different digital assets. This collaboration opportunity can prove to be very useful in the long run, not only in terms of the investment but also in making new relationships and connections across the financial segments.
In order to make sound investment decisions, one essentially requires the help of some expert tools. Thanks to the range of expert options available on the Cryptohopper, you need not worry about logic and financial soundness of the decision making. You can choose from the market-making to market arbitrage and strategy designer to exchange arbitrage as all these options will help you to make a sound financial investment decision while maximizing the probability of getting decent returns.
If you are a new investor and have recently taken the plunge into the cryptocurrency trading, you can hone your skills on the cryptocurrency mastery tools offered by the Cryptohopper. You also get an option in order to check the effectiveness of the bot or your cryptocurrency investment strategies. This will help you to make an effective investment strategy and provide you a window of opportunity to keep making the necessary changes until you are assured about the effectiveness of your bot and its strategy.
What further adds to the credentials of the Cryptohopper is its close coordination and working mechanism with the regulatory agencies and exchanges around the globe. The security apparatus offered by the organization confirms the world-class levels of safety so that you rest assured about the privacy of your data as the platform will never share the personal data of investors with any third party.
Justin Sun Speaks About Various Aspects of the Crypto Ecosystem in a Recent Interview
Justin Sun, the founder of the decentralized blockchain platform- Tron, has recently revealed in an interview that he is maintaining a multi-crypto portfolio. He credited his belief in the cryptocurrency behind this decision. In the interview, he said:
“Basically, I’m a crypto believer, so I converted like all my assets in 2013. These days I only exchange the crypto to fiat if I need to spend money in my daily life. I own lots of the XRP and Ethereum too. I am a long-term believer in crypto, so I want all the crypto assets to succeed. That is why I own lots of the other different cryptos as well.”
Moreover, he showed a lot of confidence in the near future price of Bitcoin. The Tron founder predicts that the world’s largest crypto will cross the threshold of 100 K U.S Dollars within the next five years. Along with BTC, Sun also extended his optimism towards Tron, Ethereum, and XRP alike. He predicted a bull-market for all of these cryptocurrencies in the coming times.
When asked about the Tron blockchain, he referred to it as an alternative to iOS and Android operating systems. He also explained their role as system builders only in the decentralized ecosystem. He clarified his stance that the platform does not control any users’ data. Rather its privacy and preservation of the digital assets are in the hands of the users themselves. This way, as per Sun, the content can be easily shared and in a much cheaper way.
On the other hand, Sun’s Lunch date with Warren Buffet last year yielded a crypto-friendly result. The lunch which supported Buffest’s annual charity auction was organized earlier this month. During this event, Sun gifted BTC and TRX to the legendary investor. Interestingly, he did not gift him ETH. In the interview, he remarked that basically, Warren Buffet is a BTC holder.
Justin Sun, the founder of the decentralized blockchain platform- Tron, has recently revealed in an interview that he is maintaining a multi-crypto portfolio. He credited his belief in the cryptocurrency behind this decision. In the interview, he said:
“Basically, I’m a crypto believer, so I converted like all my assets in 2013. These days I only exchange the crypto to fiat if I need to spend money in my daily life. I own lots of the XRP and Ethereum too. I am a long-term believer in crypto, so I want all the crypto assets to succeed. That is why I own lots of the other different cryptos as well.”
Moreover, he showed a lot of confidence in the near future price of Bitcoin. The Tron founder predicts that the world’s largest crypto will cross the threshold of 100 K U.S Dollars within the next five years. Along with BTC, Sun also extended his optimism towards Tron, Ethereum, and XRP alike. He predicted a bull-market for all of these cryptocurrencies in the coming times.
When asked about the Tron blockchain, he referred to it as an alternative to iOS and Android operating systems. He also explained their role as system builders only in the decentralized ecosystem. He clarified his stance that the platform does not control any users’ data. Rather its privacy and preservation of the digital assets are in the hands of the users themselves. This way, as per Sun, the content can be easily shared and in a much cheaper way.
On the other hand, Sun’s Lunch date with Warren Buffet last year yielded a crypto-friendly result. The lunch which supported Buffest’s annual charity auction was organized earlier this month. During this event, Sun gifted BTC and TRX to the legendary investor. Interestingly, he did not gift him ETH. In the interview, he remarked that basically, Warren Buffet is a BTC holder.
Crypto.com Unveils the Launch of Crypto.com Pay Checkout Service Platform
Serving the global economy with its revolutionary payments and cryptocurrency services, Crypto.com has announced the news about the launch of a highly anticipated onboarding platform designed specifically for the merchants. The newly launched platform will help the users to sign up for the Crypto.com Pay Checkout service.
The welcoming launch news was circulated with the wide customer base of Crypto.com through an official Twitter post. In the official post, the firm highlighted that to celebrate the launch, the new merchants who will sign up for Crypto.com Pay Checkout will be given a golden opportunity to enjoy a settlement fee waiver for six months.
As per the reports, the Crypto.com Pay Checkout solution will render the online merchants with an opportunity to pay using top-rated cryptocurrencies such as BTC, ETH, XRP, LTC, and CRO on the Crypto.com Pay portal which serves as an online payment solution supported by the Crypto.com Chain. The merchants do not have to take the pain of price fluctuations while accepting cryptocurrencies as the platform guarantees the payment amount in the fiat currency of their choice. The inclusion of the Crypto.com Pay Checkout solution is quite simple and it requires the addition of only a few lines of codes to the online store. One can also use the solution in the form of a plug-in.
Crypto.com has always been a pioneer in promoting cryptocurrencies in the global economy through its strategically important partnerships and collaborations with leading industries. A few days back, the platform announced the listing of Chainlink (LINK) on The Syndicate platform. The stakers of the CRO token were allowed to become a participant in a discounted sale event, which involved 500,000 USD worth of LINK tokens at 50% off the value. Crypto.com also added support for ATOM virtual currency on Crypto Earn, which would help users to enjoy a maximum of 8% on their deposits, paid in ATOM.
Some of the leading cryptocurrencies which constitute the portfolio include BTC, ETH, LTC, XRP, BNB, TUSD, PAX, USDC, MCO, BAT, LINK, CRO, MKR, DAI, PAXG, EOS, XLM, etc.
Serving the global economy with its revolutionary payments and cryptocurrency services, Crypto.com has announced the news about the launch of a highly anticipated onboarding platform designed specifically for the merchants. The newly launched platform will help the users to sign up for the Crypto.com Pay Checkout service.
The welcoming launch news was circulated with the wide customer base of Crypto.com through an official Twitter post. In the official post, the firm highlighted that to celebrate the launch, the new merchants who will sign up for Crypto.com Pay Checkout will be given a golden opportunity to enjoy a settlement fee waiver for six months.
As per the reports, the Crypto.com Pay Checkout solution will render the online merchants with an opportunity to pay using top-rated cryptocurrencies such as BTC, ETH, XRP, LTC, and CRO on the Crypto.com Pay portal which serves as an online payment solution supported by the Crypto.com Chain. The merchants do not have to take the pain of price fluctuations while accepting cryptocurrencies as the platform guarantees the payment amount in the fiat currency of their choice. The inclusion of the Crypto.com Pay Checkout solution is quite simple and it requires the addition of only a few lines of codes to the online store. One can also use the solution in the form of a plug-in.
Crypto.com has always been a pioneer in promoting cryptocurrencies in the global economy through its strategically important partnerships and collaborations with leading industries. A few days back, the platform announced the listing of Chainlink (LINK) on The Syndicate platform. The stakers of the CRO token were allowed to become a participant in a discounted sale event, which involved 500,000 USD worth of LINK tokens at 50% off the value. Crypto.com also added support for ATOM virtual currency on Crypto Earn, which would help users to enjoy a maximum of 8% on their deposits, paid in ATOM.
Some of the leading cryptocurrencies which constitute the portfolio include BTC, ETH, LTC, XRP, BNB, TUSD, PAX, USDC, MCO, BAT, LINK, CRO, MKR, DAI, PAXG, EOS, XLM, etc.
The Next Phase of McAfee Dex is Coming Soon: John McAfee
The users of this platform can reap these benefits from an app called- ‘Switch.’ It offers user-friendly ways of purchasing and selling tokens of more than 100 tokens directly against each other. The platforms offer other services such as gift cards, gamble, etc. There are no requirements for having any accounts on this app and it does not collect any personal information of the user.
The user can build his or her own white label DEX built on top of the McAfee website, simply by sending 100 U.S Dollars worth of Ethereum (ETH) (0.71429 ETH) to 0xA916E000ae9a8944485C587ddAb8a087aBFD1EAd, the official Mcafeedex website reveals. This is a one-time transaction. After the transaction confirmation, the address of the users gets whitelisted for a lifetime. The advantage of getting one’s address whitelisted is that the user does not have to pay any platform fees for his/her entire life. The process of whitelisting of the address usually takes around 24 hours to get reflected.
The users of this platform can reap these benefits from an app called- ‘Switch.’ It offers user-friendly ways of purchasing and selling tokens of more than 100 tokens directly against each other. The platforms offer other services such as gift cards, gamble, etc. There are no requirements for having any accounts on this app and it does not collect any personal information of the user.
The user can build his or her own white label DEX built on top of the McAfee website, simply by sending 100 U.S Dollars worth of Ethereum (ETH) (0.71429 ETH) to 0xA916E000ae9a8944485C587ddAb8a087aBFD1EAd, the official Mcafeedex website reveals. This is a one-time transaction. After the transaction confirmation, the address of the users gets whitelisted for a lifetime. The advantage of getting one’s address whitelisted is that the user does not have to pay any platform fees for his/her entire life. The process of whitelisting of the address usually takes around 24 hours to get reflected.
How Ponzi Schemes Are Using Cryptocurrencies to Dupe Investors
A Ponzi scheme can be classified as a kind of fraudulent investment scheme wherein investors are promised an exceptionally large return on their investment. The organizers promise a high return and that too, without any significant risk attached to the investment. As one can easily make out, the promise of high return without a considerable risk is not a feasible proposition in the investment world, but still many people fall in the lure of getting higher returns in the shortest possible time and become the victim of such fraudulent schemes.
How Ponzi Schemes Work?
The modus operandi of Ponzi schemes is not a very complex one. Usually, scammers collect money from new investors and pay the amount to old investors and in the process, they keep a share of the investment with them. This vicious cycle keeps going as long as possible before finally collapsing in the absence of any solid investment idea or source of income.
There are a number of characteristics from which you can easily find whether a particular scheme falls into the category of the Ponzi scheme or not. For example, if somebody offers very high returns on some investment plan without giving you details of risk and return factor, you have all the reasons to be concerned about it. Further, these kinds of fraudulent investment schemes are not registered with any regulatory authority and hence, there is no legal measure that one can take after being duped by the fraudsters.
Virtual Cryptocurrencies and Ponzi Schemes
The rising popularity of virtual currencies among the fraudsters has raised a red flag for many regulators across the world. The organizers of Ponzi schemes are increasingly using digital coins to lure investors in return for high rewards. The primary reason for fraudsters switching to cryptocurrencies is the decentralized and unregulated nature of digital coins, which makes it easy for cheaters to remain untraced even after committing fraud.
Take, for instance, the example of the PlusToken Ponzi scheme, which has recently moved Bitcoin worth of $117 million to a new address. Just so you know, PlusToken is based in China and has duped investors of cryptocurrency worth billions. In fact, according to a research estimate, investors lost $4 billion worth of investment in 2019 to the various cryptocurrency scams with Ponzi schemes emerging as the major accomplice in these frauds.
A Ponzi scheme can be classified as a kind of fraudulent investment scheme wherein investors are promised an exceptionally large return on their investment. The organizers promise a high return and that too, without any significant risk attached to the investment. As one can easily make out, the promise of high return without a considerable risk is not a feasible proposition in the investment world, but still many people fall in the lure of getting higher returns in the shortest possible time and become the victim of such fraudulent schemes.
How Ponzi Schemes Work?
The modus operandi of Ponzi schemes is not a very complex one. Usually, scammers collect money from new investors and pay the amount to old investors and in the process, they keep a share of the investment with them. This vicious cycle keeps going as long as possible before finally collapsing in the absence of any solid investment idea or source of income.
There are a number of characteristics from which you can easily find whether a particular scheme falls into the category of the Ponzi scheme or not. For example, if somebody offers very high returns on some investment plan without giving you details of risk and return factor, you have all the reasons to be concerned about it. Further, these kinds of fraudulent investment schemes are not registered with any regulatory authority and hence, there is no legal measure that one can take after being duped by the fraudsters.
Virtual Cryptocurrencies and Ponzi Schemes
The rising popularity of virtual currencies among the fraudsters has raised a red flag for many regulators across the world. The organizers of Ponzi schemes are increasingly using digital coins to lure investors in return for high rewards. The primary reason for fraudsters switching to cryptocurrencies is the decentralized and unregulated nature of digital coins, which makes it easy for cheaters to remain untraced even after committing fraud.
Take, for instance, the example of the PlusToken Ponzi scheme, which has recently moved Bitcoin worth of $117 million to a new address. Just so you know, PlusToken is based in China and has duped investors of cryptocurrency worth billions. In fact, according to a research estimate, investors lost $4 billion worth of investment in 2019 to the various cryptocurrency scams with Ponzi schemes emerging as the major accomplice in these frauds.
TradAir: Your One-stop Solution for Foreign Exchange and Crypto Trading Services
There are a number of companies that provide access to foreign exchange (FX) services, but only a few names are there when it comes to providing the FX facility with the facility of crypto trading underpinned by the ecosystem of blockchain. More importantly, it is quite a hard task to find a reputed name in the field of institutional FX and crypto trading services.
TradAir: Leading name in FX and crypto trading
Among the handful of players, the name of TradAir can be considered as the most dependable one in the field of FX and crypto trading solutions. Since its inception in 2010, the company has established new norms of performance while helping investors to aid their wealth creation opportunities. The platform provides a range of services in order to help its clients, such as providing a wide choice on liquidity access, inventing the prices for crypto assets, and trading the cryptocurrencies globally.
What are the USP of TradAir?
One of the distinguishing characteristics of the service provided by TradAir is its end to end solutions. This signifies that its clients will need no intermediary in order to get access to sources of liquidity, cryptocurrency exchanges, custodians, and market makers among others. In other words, it is a single platform using which you can address all your foreign exchange and cryptocurrency trading services.
What makes all these services easy to access is the seamless graphical user interface of TradAir. The interface is compatible with mobile devices and makes it easy to communicate with other users. This is especially significant in the case of cryptocurrency trading, where the results can be broadcasted to a number of clients and venues depending upon the requirement. You can accomplish a host of tasks on the platform ranging from the management of liquidity, creation of the price, and analysis of trading to achieve better results and greater earnings.
Another distinctive advantage associated with TradAir is the modular-nature of its solutions. This modularity makes access to its services extremely convenient. You can choose from a range of options when it comes to using the solution provided by TradAir. Its products/solutions can be used through cloud computing, or you can get it installed on your premises. You can also get the solution installed in any data center in any part of the globe and this has become possible only owing to the modular nature of the solution.
In addition to its core services, TradAir also allows its customers to enjoy the convenience of over-the-counter (OTC) trade settlement services. This has been made possible thanks to the collaboration between Seed CX and TradAir. Both companies signed an agreement of collaboration last year, which added another feather to TradAir’s cap. Just so you know, the OTC facility can be availed for both fiat trades and digital trades.
There are a number of companies that provide access to foreign exchange (FX) services, but only a few names are there when it comes to providing the FX facility with the facility of crypto trading underpinned by the ecosystem of blockchain. More importantly, it is quite a hard task to find a reputed name in the field of institutional FX and crypto trading services.
TradAir: Leading name in FX and crypto trading
Among the handful of players, the name of TradAir can be considered as the most dependable one in the field of FX and crypto trading solutions. Since its inception in 2010, the company has established new norms of performance while helping investors to aid their wealth creation opportunities. The platform provides a range of services in order to help its clients, such as providing a wide choice on liquidity access, inventing the prices for crypto assets, and trading the cryptocurrencies globally.
What are the USP of TradAir?
One of the distinguishing characteristics of the service provided by TradAir is its end to end solutions. This signifies that its clients will need no intermediary in order to get access to sources of liquidity, cryptocurrency exchanges, custodians, and market makers among others. In other words, it is a single platform using which you can address all your foreign exchange and cryptocurrency trading services.
What makes all these services easy to access is the seamless graphical user interface of TradAir. The interface is compatible with mobile devices and makes it easy to communicate with other users. This is especially significant in the case of cryptocurrency trading, where the results can be broadcasted to a number of clients and venues depending upon the requirement. You can accomplish a host of tasks on the platform ranging from the management of liquidity, creation of the price, and analysis of trading to achieve better results and greater earnings.
Another distinctive advantage associated with TradAir is the modular-nature of its solutions. This modularity makes access to its services extremely convenient. You can choose from a range of options when it comes to using the solution provided by TradAir. Its products/solutions can be used through cloud computing, or you can get it installed on your premises. You can also get the solution installed in any data center in any part of the globe and this has become possible only owing to the modular nature of the solution.
In addition to its core services, TradAir also allows its customers to enjoy the convenience of over-the-counter (OTC) trade settlement services. This has been made possible thanks to the collaboration between Seed CX and TradAir. Both companies signed an agreement of collaboration last year, which added another feather to TradAir’s cap. Just so you know, the OTC facility can be availed for both fiat trades and digital trades.
Crypto.com: One-stop Destination to Your All Crypto Needs
Despite the growing popularity of cryptocurrency, very few platforms offer a complete range of services related to buying, selling, and trading of digital coins. While we have a number of options when it comes to availing these services separately, very few names appear on the horizon, which is able to provide a holistic solution for all needs related to cryptocurrencies.
Significant among these handful options is Crypto.com, first crypto company to hold ISO27001 and PCI:DSS level 1 compliance, which can be easily considered as a one-stop destination for all cryptocurrency services. Not only can you buy and sell the cryptocurrencies here but can also make a payment, avail credit, and build an investment portfolio using digital coins. The complete and holistic nature of services provided by Crypto.com is what makes this platform unique and favorite among the masses.
Features and Services
A peek into services offered by Crypto.com and one instantly recognizes why the portal is finding favor among investors. Using the exchange platform of Crypto.com, which is powered by its native coin CRO, one can trade in digital coins with low processing charges and execution prices, which are best in the industry. There is no constraint with the liquidity, either, which comes as an added advantage for investors. You can choose from a wide range of coins (45 plus) and execute the trade at their true prices without any fee or markups.
In order to satiate your spending desire and that too with rewards, Crypto.com offers the facility of VISA card. You can have a 10% rebate on expenditures done on Airbnb and Expedia, which is in addition to 5% back that you can avail of all your spending. The facility is now available for US and Singapore users too.
You can earn a handsome interest as Crypto.com offers an earning of up to 8% per annum on your crypto deposits. This interest jumps to 12% in case you decide to deposit stablecoin in the platform’s repository. It is indeed a good opportunity and can provide you a handsome income without any significant risk factor. It is to be noted that the interest you will receive here is simple interest calculated on a daily basis, not the compounded one.
Another important service that you can use is the credit facility on Crypto.com. By depositing your crypto assets, you can apply for the loan, which has a number of unique inbuilt features. The money will be instantly credited to your account as no credit checks are required. There is no repayment deadline, either which means you can repay the amount according to your convenience. Further, Crypto.com puts no limit on the credit, and you can apply for as much credit as you require.
For investment freaks, the automated trading feature of the Crypto.com is the right thing to go for. It only takes a couple of minutes to set up the trading account, and once you are in, you can easily access trading strategies offered by the algorithmic trading system of the platform. The best part of the trading on the platform is that it is totally free of cost. There are no entry, or exit fees levied on the trading; neither there are any management expenses charged by the portal – isn’t that wonderful?
Recent Developments and 2020 Plan
Crypto.com is also contributing to developing an ecosystem of the cryptocurrency and blockchain developers. In 2019, we had witnessed the launch of The Syndicate, a Blockchain fundraising Platform which is doing a commendable job in raising the money for new cryptocurrency and blockchain startups. More recently, however, the Crypto.com is in the news for offering a staggering 25% off on Bitcoin worth $200,000 for holders of its native coin, the CRO.
As far as its 2020 Plans are concerned, the Crypto.com wants to expand the reach of its VISA card to the extent that it can be used in every part of the globe. Another prominent part of the company’s strategy is to launch a non-custodial wallet and spread its adoption among the target users.
Despite the growing popularity of cryptocurrency, very few platforms offer a complete range of services related to buying, selling, and trading of digital coins. While we have a number of options when it comes to availing these services separately, very few names appear on the horizon, which is able to provide a holistic solution for all needs related to cryptocurrencies.
Significant among these handful options is Crypto.com, first crypto company to hold ISO27001 and PCI:DSS level 1 compliance, which can be easily considered as a one-stop destination for all cryptocurrency services. Not only can you buy and sell the cryptocurrencies here but can also make a payment, avail credit, and build an investment portfolio using digital coins. The complete and holistic nature of services provided by Crypto.com is what makes this platform unique and favorite among the masses.
Features and Services
A peek into services offered by Crypto.com and one instantly recognizes why the portal is finding favor among investors. Using the exchange platform of Crypto.com, which is powered by its native coin CRO, one can trade in digital coins with low processing charges and execution prices, which are best in the industry. There is no constraint with the liquidity, either, which comes as an added advantage for investors. You can choose from a wide range of coins (45 plus) and execute the trade at their true prices without any fee or markups.
In order to satiate your spending desire and that too with rewards, Crypto.com offers the facility of VISA card. You can have a 10% rebate on expenditures done on Airbnb and Expedia, which is in addition to 5% back that you can avail of all your spending. The facility is now available for US and Singapore users too.
You can earn a handsome interest as Crypto.com offers an earning of up to 8% per annum on your crypto deposits. This interest jumps to 12% in case you decide to deposit stablecoin in the platform’s repository. It is indeed a good opportunity and can provide you a handsome income without any significant risk factor. It is to be noted that the interest you will receive here is simple interest calculated on a daily basis, not the compounded one.
Another important service that you can use is the credit facility on Crypto.com. By depositing your crypto assets, you can apply for the loan, which has a number of unique inbuilt features. The money will be instantly credited to your account as no credit checks are required. There is no repayment deadline, either which means you can repay the amount according to your convenience. Further, Crypto.com puts no limit on the credit, and you can apply for as much credit as you require.
For investment freaks, the automated trading feature of the Crypto.com is the right thing to go for. It only takes a couple of minutes to set up the trading account, and once you are in, you can easily access trading strategies offered by the algorithmic trading system of the platform. The best part of the trading on the platform is that it is totally free of cost. There are no entry, or exit fees levied on the trading; neither there are any management expenses charged by the portal – isn’t that wonderful?
Recent Developments and 2020 Plan
Crypto.com is also contributing to developing an ecosystem of the cryptocurrency and blockchain developers. In 2019, we had witnessed the launch of The Syndicate, a Blockchain fundraising Platform which is doing a commendable job in raising the money for new cryptocurrency and blockchain startups. More recently, however, the Crypto.com is in the news for offering a staggering 25% off on Bitcoin worth $200,000 for holders of its native coin, the CRO.
As far as its 2020 Plans are concerned, the Crypto.com wants to expand the reach of its VISA card to the extent that it can be used in every part of the globe. Another prominent part of the company’s strategy is to launch a non-custodial wallet and spread its adoption among the target users.
The Sandbox Announces Partnership With Opera Web Browser
Sandbox, the immensely popular gaming platform, has announced the news about its strategic partnership with a globally acclaimed web browser, Opera, which also takes pride in being the world’s first web browser infused with a crypto wallet. The integration is likely to pave the way for the success of both the firms in terms of operational capacities as well as blockchain excellence.
According to the official announcement, the integration between the two renowned entities will allow the users of The Sandbox to access their map, digital ASSETS, and LANDS. As part of the strategic collaboration, The Sandbox will now find its place on Opera’s dApp store as one of the featured dApps available on the web browser. The unprecedented technological excellence of Opera will aid The Sandbox community to interact with its users in a convenient and seamless manner. Both the renowned firms with putting in their joint efforts to enhance their network capabilities, user experience, as well as will lay special emphasis on channelizing secured, quick, and hassle-free transactions.
Opera serves as a leading web browser which is home to a whopping 350 million users around the world. The award-winning web browser is playing a key role in making Web 3 mainstream and the first step taken by the firm towards its goal is the inclusion of a built-in crypto wallet in the browser in December 2018. The Opera team is constantly upgrading its network and is adding new lucrative features into its system focused on Web 3. The web browser allows its users to send and receive Bitcoin directly from its network. The users can also add Bitcoin or TRON cards into their built-in crypto wallets or make transactions.
The Sandbox revealed that Opera was an active participant of Round 2 of LAND presale. It enjoys a special space to nurture its community.
Sandbox, the immensely popular gaming platform, has announced the news about its strategic partnership with a globally acclaimed web browser, Opera, which also takes pride in being the world’s first web browser infused with a crypto wallet. The integration is likely to pave the way for the success of both the firms in terms of operational capacities as well as blockchain excellence.
According to the official announcement, the integration between the two renowned entities will allow the users of The Sandbox to access their map, digital ASSETS, and LANDS. As part of the strategic collaboration, The Sandbox will now find its place on Opera’s dApp store as one of the featured dApps available on the web browser. The unprecedented technological excellence of Opera will aid The Sandbox community to interact with its users in a convenient and seamless manner. Both the renowned firms with putting in their joint efforts to enhance their network capabilities, user experience, as well as will lay special emphasis on channelizing secured, quick, and hassle-free transactions.
Opera serves as a leading web browser which is home to a whopping 350 million users around the world. The award-winning web browser is playing a key role in making Web 3 mainstream and the first step taken by the firm towards its goal is the inclusion of a built-in crypto wallet in the browser in December 2018. The Opera team is constantly upgrading its network and is adding new lucrative features into its system focused on Web 3. The web browser allows its users to send and receive Bitcoin directly from its network. The users can also add Bitcoin or TRON cards into their built-in crypto wallets or make transactions.
The Sandbox revealed that Opera was an active participant of Round 2 of LAND presale. It enjoys a special space to nurture its community.
Tether (USDT): Real World Fiat Currency, Through Blockchain Technology
In this article, we are going to look at the anatomy of Tether (USDT). What makes it a popular stablecoin, and why it is growing rampantly? So, without wasting a minute, let us start digging!
What is Tether (USDT)?
The most popular stablecoin- Tether, doesn’t need much of an introduction. This stablecoin offers a fixed exchange rate in many types of fiat currency. With Tether, USDT is pegged with the U.S. Dollar. Simply put, Tether is a name for the U.S. Dollar, which is converted into cryptocurrency through blockchain technology.
What’s the point of pegging to fiat currency with crypto, you may ask:
Well, pegging the exchange rate allows an easy transfer of fiat currency equivalent when it comes to exchanging from one currency to another. Also, Tether allows freedom from traditional fiat currency regulations and fiat currency volatility. In a way, you can call it a crypto-turned fiat currency. Therefore, depending on the currency rate, one unit of USDT will be equal to one unit of the U.S. Dollar. Tether is also commonly pegged to Euro, which forms EURT.
How does Tether work?
Omni platform is what this cryptocurrency is based on. Although the Omni platform also lends support for many other bitcoin blockchain-based digital assets. For instance, there are Tether based Bitcoin and Tether based Ethereum coins that are already in the market.
The concept of collateral currency works behind Tether. It simply means an equal amount of U.S. Dollar equates to the same unit of USDT. Also, it is a mandate that the USDT is always available to the user for redemption at any point of time. Currently, USDT is only converted to U.S. Dollar fiat currency and is offered by a handful of crypto exchanges.
Using Tether is a boon for traders:
All Tether transactions take are a few minutes: USDT offers many helpful factors that can solidly help a trader. The first way in which it is helpful is the fact that it saves a lot of time in comparison to the traditional bank transfers, which takes days. Tether transactions get successfully completed within a few minutes. The quick transaction quality of Tether allows traders and investors to take advantage of arbitrage opportunities.
The transaction fees: You remember the cost of bank transfers that taxed the sender with heavy SWIFT charges, sometimes middle-man fees, foreign exchange conversion rate charges, etc.? Now, if you look at the transaction fee of Tether, it would be a big sigh of relief. Well, Tether charges ZERO Fees for a transfer between Tether wallets!
Stable price: The stablecoins give a crypto-volatility immunity. The volatile nature of cryptocurrency is not unknown. It can take the user to great heights and can also plunge the user to deep valleys. Traders do require a sense of stability for operating their businesses. And that is where the stable nature of Tether comes in play.
Tether’s performance in the real world:
Due to the unique beneficial nature of Tether, it is celebrated and adored by many platforms. Recently, on 10th Feb., Tether was launched on Algorand’s Next Generation Blockchain Platform, as its first-ever stablecoin. This kind of market news shows how Tether is seen in the light of being a trustworthy, stable, and efficient stablecoin.
On the other hand, the success of Tether has also made Tether the company to launch a digital asset called- ‘Tether Gold (XAU₮).’ The vision behind this gold supported digital asset is to offer exposure to the traditional asset- the physical gold (XAU). The growing demand for a digital exposure to gold inspired Tether to launch this gold supported digital asset. On this matter, the CTO at Tether- Paolo Ardoino shared:
“Tether Gold provides the combined benefits of both physical and digital assets, removing the drawbacks of holding gold in more traditional ways, such as high storage costs and restricted access.”
In this article, we are going to look at the anatomy of Tether (USDT). What makes it a popular stablecoin, and why it is growing rampantly? So, without wasting a minute, let us start digging!
What is Tether (USDT)?
The most popular stablecoin- Tether, doesn’t need much of an introduction. This stablecoin offers a fixed exchange rate in many types of fiat currency. With Tether, USDT is pegged with the U.S. Dollar. Simply put, Tether is a name for the U.S. Dollar, which is converted into cryptocurrency through blockchain technology.
What’s the point of pegging to fiat currency with crypto, you may ask:
Well, pegging the exchange rate allows an easy transfer of fiat currency equivalent when it comes to exchanging from one currency to another. Also, Tether allows freedom from traditional fiat currency regulations and fiat currency volatility. In a way, you can call it a crypto-turned fiat currency. Therefore, depending on the currency rate, one unit of USDT will be equal to one unit of the U.S. Dollar. Tether is also commonly pegged to Euro, which forms EURT.
How does Tether work?
Omni platform is what this cryptocurrency is based on. Although the Omni platform also lends support for many other bitcoin blockchain-based digital assets. For instance, there are Tether based Bitcoin and Tether based Ethereum coins that are already in the market.
The concept of collateral currency works behind Tether. It simply means an equal amount of U.S. Dollar equates to the same unit of USDT. Also, it is a mandate that the USDT is always available to the user for redemption at any point of time. Currently, USDT is only converted to U.S. Dollar fiat currency and is offered by a handful of crypto exchanges.
Using Tether is a boon for traders:
All Tether transactions take are a few minutes: USDT offers many helpful factors that can solidly help a trader. The first way in which it is helpful is the fact that it saves a lot of time in comparison to the traditional bank transfers, which takes days. Tether transactions get successfully completed within a few minutes. The quick transaction quality of Tether allows traders and investors to take advantage of arbitrage opportunities.
The transaction fees: You remember the cost of bank transfers that taxed the sender with heavy SWIFT charges, sometimes middle-man fees, foreign exchange conversion rate charges, etc.? Now, if you look at the transaction fee of Tether, it would be a big sigh of relief. Well, Tether charges ZERO Fees for a transfer between Tether wallets!
Stable price: The stablecoins give a crypto-volatility immunity. The volatile nature of cryptocurrency is not unknown. It can take the user to great heights and can also plunge the user to deep valleys. Traders do require a sense of stability for operating their businesses. And that is where the stable nature of Tether comes in play.
Tether’s performance in the real world:
Due to the unique beneficial nature of Tether, it is celebrated and adored by many platforms. Recently, on 10th Feb., Tether was launched on Algorand’s Next Generation Blockchain Platform, as its first-ever stablecoin. This kind of market news shows how Tether is seen in the light of being a trustworthy, stable, and efficient stablecoin.
On the other hand, the success of Tether has also made Tether the company to launch a digital asset called- ‘Tether Gold (XAU₮).’ The vision behind this gold supported digital asset is to offer exposure to the traditional asset- the physical gold (XAU). The growing demand for a digital exposure to gold inspired Tether to launch this gold supported digital asset. On this matter, the CTO at Tether- Paolo Ardoino shared:
“Tether Gold provides the combined benefits of both physical and digital assets, removing the drawbacks of holding gold in more traditional ways, such as high storage costs and restricted access.”
Real Vision CEO on Impact of Coronavirus and Money Printing on Global Economy
In an interesting conversation regarding the impact of Coronavirus and printing of the money by the Federal Reserve on the global economy, the chief executive officer of the Real Vision, Raoul Pal, touched upon a number of aspects including Gold, Bitcoin, Tokenization, and financial freedom among others. According to Pal, the situation the world is in today where we are battling the contagious effect of Coronavirus and its subsequent impact on the economies can prove to be a silver lining for the cryptocurrency and blockchain technology.
Present Scenario
In order to wrest the downward spiral of the economic activities, countries across the world are pushing the money into the system by offering lower interest rates and printing more money. Recently we have witnessed the historic decision by US Federal Reserve of cutting the interest rate by 50 basis points (0.5 percent) and the decision is considered a historical one. In addition to the rates cut, printing more of the fiat currency is also on the cards, but at the same time, all these steps have the potential to push the value of the currency down.
More supply will ultimately devalue the currency and in order to steer clear of such a situation, the system could possibly take the help of the two important assets available in the present context. One of these primary assets is the gold, while cryptocurrencies could possibly take the form of the second asset in order to pull the world economy out of the possible recession.
Decentralization: A way forward
Citing the example of building a decentralized database, Pal emphasized that decentralization is a way forward if economies have to become more efficient while providing equal opportunity to all the players to compete in the industries. Pal drove home the point that digitization is not only about the Bitcoin and other cryptocurrencies as a whole lot of stuff is going on to make things decentralized, more accessible, and more effective to operate.
During the discussions, the issue of having exposure to the cryptocurrencies also came up, and Pal emphasized that it is important to have an investment in cryptocurrencies according to the cycle of age you are in. One has to profile the risk aspect of the cryptocurrencies and then accordingly invest in the Bitcoin and other digital coins.
Tokenization: Powering the Next Phase of Crypto Growth
The concept of tokenization also figured in the discussions and its potential to power the next wave of growth in the Crypto industry has been recognized well by the CEO of the Real Vision. If the whole process of tokenization is studied and researched carefully with a great deal of emphasis placed on examining the important aspects of the company, its business model, and stream of revenue, then the phenomenon of tokenization can lead you to the greater financial success in the life. Towards the end of the interview, Pal explains his dilemma of understanding the Bitcoin when the fork happened, although he still has a great degree of faith in Bitcoin and supports it as a means of financial access and freedom for all.
In an interesting conversation regarding the impact of Coronavirus and printing of the money by the Federal Reserve on the global economy, the chief executive officer of the Real Vision, Raoul Pal, touched upon a number of aspects including Gold, Bitcoin, Tokenization, and financial freedom among others. According to Pal, the situation the world is in today where we are battling the contagious effect of Coronavirus and its subsequent impact on the economies can prove to be a silver lining for the cryptocurrency and blockchain technology.
Present Scenario
In order to wrest the downward spiral of the economic activities, countries across the world are pushing the money into the system by offering lower interest rates and printing more money. Recently we have witnessed the historic decision by US Federal Reserve of cutting the interest rate by 50 basis points (0.5 percent) and the decision is considered a historical one. In addition to the rates cut, printing more of the fiat currency is also on the cards, but at the same time, all these steps have the potential to push the value of the currency down.
More supply will ultimately devalue the currency and in order to steer clear of such a situation, the system could possibly take the help of the two important assets available in the present context. One of these primary assets is the gold, while cryptocurrencies could possibly take the form of the second asset in order to pull the world economy out of the possible recession.
Decentralization: A way forward
Citing the example of building a decentralized database, Pal emphasized that decentralization is a way forward if economies have to become more efficient while providing equal opportunity to all the players to compete in the industries. Pal drove home the point that digitization is not only about the Bitcoin and other cryptocurrencies as a whole lot of stuff is going on to make things decentralized, more accessible, and more effective to operate.
During the discussions, the issue of having exposure to the cryptocurrencies also came up, and Pal emphasized that it is important to have an investment in cryptocurrencies according to the cycle of age you are in. One has to profile the risk aspect of the cryptocurrencies and then accordingly invest in the Bitcoin and other digital coins.
Tokenization: Powering the Next Phase of Crypto Growth
The concept of tokenization also figured in the discussions and its potential to power the next wave of growth in the Crypto industry has been recognized well by the CEO of the Real Vision. If the whole process of tokenization is studied and researched carefully with a great deal of emphasis placed on examining the important aspects of the company, its business model, and stream of revenue, then the phenomenon of tokenization can lead you to the greater financial success in the life. Towards the end of the interview, Pal explains his dilemma of understanding the Bitcoin when the fork happened, although he still has a great degree of faith in Bitcoin and supports it as a means of financial access and freedom for all.
