When it comes to Cosmos (ATOM), the platform has been gaining constant growth and rally since the beginning of August 2021. It is quite remarkable that it is not just ATOM but all layer one protocols that have experienced a tremendous rally in August.
The reason why these projects continue gaining a lot of public attention and rally is because of Ethereum’s 2.0 hard fork deployment. For almost a year, Ethereum had been facing a huge problem with its scalability, transactions speed, and transaction charges.
For a long, the investors wanted a solution around this and wanted the problem solved as early as possible. It took Ethereum almost 12 months to address the problem and deploy the hard fork. Unfortunately, the anticipation set by the Ethereum enthusiasts was too high and the result of the hard fork was not satisfactory at all.
Therefore, the rally on other platforms and protocols has continued growing and the month of August has been one of the best months for protocols such as ATOM.
Since its launch, Cosmos has found itself very lucky to have offered a lot of benefits to its users by offering them a welcoming environment for smart contracts. Over time, several protocols have focused on providing users with interoperability.
Now, this service is proving to be the internet for the blockchain networks, where several blockchains are connected to each other. This way, the data can flow directly through the blockchains without any interruption, just like the internet.
ATOM has proven to be one of the most successful and highly advanced protocols when it comes to offering blockchain interoperability to users. The platform has been able to offer this facility to users through the protocol called Inter-Blockchain Communication (IBC).
Ever since the deployment of the IBC protocol, ATOM has observed a significantly high rally on its platform. This has helped the platform observe an increase in its price as well as trading volume. The information has been confirmed by TradingView and Cointelegraph, a couple of major data analyzing firms in the crypto-verse.
According to the firms, ATOM has displayed tremendous growth since July 20 coming all the way up to August 22. The data from the firms show that from July 20 to August 22, ATOM has observed a 180% rally on its platform. This has helped ATOM experience a rise in its price from which was recorded at $24.77 on August 22, and it was $8.87 back on July 20.
Similarly, the trading volume for ATOM has also surged, which was revolving around an average of $250 million back on the 20th of July. Whereas, on the 22nd of August, the average trading volume was $1.87 billion.
from CryptocyNews.com https://www.cryptocynews.com/cosmos-atom-experiences-a-significant-rally-following-launch-of-two-products/
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It was early 2021 when the first-ever exchange-traded fund (ETF) for Bitcoin was approved in Canada. Since then, several countries have approved the launch of exchange-traded funds and they have been a huge success.
The exchange-traded funds refer to assets that are based on cryptocurrencies but are not crypto-assets in originality. The majority of the investors skeptical about the volatility and unregulated nature of cryptocurrencies are attracted to this space.
So far, several countries such as Japan, South Korea, Singapore, Russia, and Canada have approved exchange-traded fund requests. As the United States showed a bit of flexibility towards the cryptocurrency sector, several US-based firms also wanted to launch ETFs.
Therefore, several US-based firms submitted requests for the consideration of Bitcoin (BTC) and other crypto-ETFs. These requests were reportedly submitted to the US Securities and Exchange Commission (SEC) for approval. Unfortunately, neither of the requests were approved by the Securities and Exchange Commission despite several requests.
It was mainly because the US SEC is already preoccupied with other issues and regulatory reforms for the entire cryptocurrency sector. This is the reason why several analysts had initially predicted that the US SEC will not be able to touch the ETF topic until mid of 2022.
However, the analysts now have a change of view around the US SEC, as they seem to be changing their verdict about US SEC’s ETF approvals. Just recently, the majority of the analysts in the United States have shared their verdict around the approvals of ETF, which sounds promising.
According to the consensus of the analysts, it is highly likely of the US SEC to approve the exchange-traded funds for Bitcoin futures. The analysts have predicted that it is highly likely that the US SEC may start approving Bitcoin futures ETFs starting this year.
As per predictions from the analysts, the approval for the Bitcoin futures ETFs may be given by the US SEC starting the fourth quarter of 2021.
The major and most prominent analysts who shared their consensus around the launch of the ETFs were the ETF analysts from Bloomberg. The name of these analysts is James Seyffart and Eric Balchunas, who shared their consensus on the matter in an investor note. The note was reportedly issued by the analysts on Tuesday, August 24, 2021.
They stated that recently, many companies have proceeded with submitting withdrawals for the ETFs they had filed for at the US SEC. The recent withdrawal requests for the ETFs were submitted by the major firms known as ProShares and VanEck. The withdrawal requests from these firms may have alerted the US SEC, compelling them to look into the requests with high priority.
from CryptocyNews.com https://www.cryptocynews.com/us-sec-may-have-a-good-news-for-exchange-traded-fund-requests/
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Ethereum is considered second in line both in the context of market capitalization and the overwhelming interest of financial organizations towards crypto adoption after Bitcoin. Ethereum’s blockchain has received multiple updates and patches in the past rather than Bitcoin; this is what makes Ethereum’s blockchain not only more efficient but less costly for traders and investors as compared to Bitcoin. At the very latest, there was London hard fork update all loaded and booted for Ethereum’s blockchain, and it proved to be extremely dynamic and a well-crafted update to bring about the scalability and effectiveness of the whole platform.
In the IT world, the work of a developer is never over; they are either working on a code or coding to make a piece of software work at its finest. Ethereum developers continue to develop more and more code even after pitching in the London hard fork update to make it stick and to ensure that the system is not backfiring in relation to the update. But recently, due to a possible software glitch, the whole blockchain of Ethereum is in ruins. When the new update is locked and loaded, all the users are advised to update as to the recent stable version as soon as possible, and the same protocol was followed after the implementation of the London hard fork upgrade.
Ethereum Software Bug Needs to be Resolved Immediately
But many stuck at the Geth client of Ethereum failed to do so, and this has caused a viable fork to appear within the blockchain. This subsequently means that the Ethereum’s blockchain is being divided into two respective chains, and it is now tending to both of these, which is basically chaotic for a digital ledger to be flooded in with requests and then having to process them into two different domains, not having any clue which is which. The issue is taken up with the developers, and they are working to fix it up as we speak, but if it remains unsolved, then it would mean that there is a chance of a double-spend attack. This means that the same cryptocurrency will be spent twice, not only making it difficult to cover the whole mess but also bringing the value of Ethereum down.
from CryptocyNews.com https://www.cryptocynews.com/new-software-bug-affects-more-than-half-of-ethereum-blockchain/
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Binance is the most awarded crypto exchange anywhere in the world, but it is having a hard time for the last few months since being in a feud with many regulatory authorities around the world but especially the UK. Binance tried to cave in and do the job of the UK financial regulatory authority, and for that matter, it was banned for several weeks, and upon reopening, there was a condition imposed that the regulatory office in the UK will be keeping a strong eye on the performance of Binance. But now, the UK’s FCA says that it is not able to properly keep an eye or delegate the regulatory operation at Binance, and that is no one’s fault but of the crypto exchange itself.
Binance may be Banned in the UK
The statement read that the regulatory office is not receiving answers to the queries projected towards Binance in a timely manner, and hence there is only little to no information available regarding its products and business practices. Binance has had a tough time in the past coming to terms with the regulatory authorities. It seems like the crypto exchange doesn’t care for it at all, which has stained its regulatory performance, and might possibly this could have gone on its permanent record.
Financial Conduct Authority (FCA) in the UK has released a thorough report in which it has stated various concerns for the crypto exchange to date. The FCA considers that they are wasting its time with Binance and that it is not cooperative in sharing any regulatory policies it is enforcing into its business practices. Given the fact that the firm is mainstream and operates on a global level, and deals with multiple high-risk assets and products, it is intentionally jolting investors and interested parties into buying those high-risk products. FCA did send a list of questions to the exchange earlier this year, and the answers were not like anything amounting to something; in simpler terms, the answers were negligent and didn’t offer any precise information about its business practices. This has got FCA worried about what the future holds for Binance and its operation in the UK, and it is possible if Binance doesn’t clean its act, then the firm is going down, at least in the UK.
As per the latest reports, Cuba has made an announcement in regards to the adoption of cryptocurrencies for payments. Cuba has announced that it is in the process of recognizing cryptocurrencies as a means for payments. For this purpose, Cuba will be recognizing cryptocurrencies as legal entities and will be working on their regulations.
The Cuban Government is now aiming to regulate cryptocurrencies in the country. This way, the government of Cuba is following in the footsteps of El Salvador that recognized cryptocurrencies as legal entities in July of 2021.
Aljazeera, one of the major international news reporting channels has covered the news on the latest move by Cuba. It has been confirmed in the report that the government of Cuba will be working alongside the central bank of Cuba for the regulation of cryptocurrencies.
The central bank of Cuba will become up with the rules and policies for the implementation of the new law governing cryptocurrencies. The new law will be giving cryptocurrencies a legal status in the country and the citizens would be able to benefit from it.
Once the new regulations and policies are ready, they will help and expedite the process of mainstreaming cryptocurrencies across the nation. The regulatory authorities in Cuba are also expected to come up with relevant licensing for cryptocurrencies.
The regulatory authorities would ensure that any firm or company providing cryptocurrency-related services in Cuba have the right to license to legitimize their operations. The firms will not be allowed to operate in Cuba if they do not have the right licensing to do so.
Ever since the cryptocurrency industry has been founded, the Cubans have reportedly benefitted from it. This is mainly because cryptocurrencies have helped the country find a way to get around the sanctions that the US has passed against them.
The Cubans have benefited a lot from cryptocurrencies when it comes to remittances, as most of the international banks and only payment services do not provide services in the country. This is again because of the sanctions imposed by the United States and its allies on the country.
Therefore, the people in Cuba have grown very much fond of cryptocurrencies and have proven to be very tech-savvy when it comes to cryptocurrencies.
The government of Cuba is confident that inducting cryptocurrencies with legal tender would help the industry grow to a new level in the country. As the United States continues tightening its restrictions over Cuba, the country is finding other ways of boosting its economy.
Now, the government has adopted cryptocurrencies and it is going to prove extremely beneficial for the entire country.
from CryptocyNews.com https://www.cryptocynews.com/cuba-ready-to-follow-on-footsteps-of-el-salvador-for-crypto-regulation/
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Facebook has been interested in the concept of blockchain and digital assets for a long time. The social media platform introduced a new digital wallet called Novi in May for providing custodian support for Diem tokens. However, now the Facebook officials have made some important changes in the functionality of the product. In an interview with Bloomberg, David Marcus, the head of Finance at FB headquarters, explained further.
Marcus told the media that Facebook is looking to allow the users to hold, trade, sell and exchange NFT assets with the help of Novi wallet. He further added that Facebook is also exploring different methods of getting into the NFT marketplace because, as the world’s leading social media network, it is possible for them to reach millions of consumers and introduce a new market to the NFT industry.
For the time being, there is a visible increase in the purchase and sale of NFT artwork all over the world. Experts have dubbed this period the NFT summer. Facebook has a higher reach to consumers all around the world who have access to the internet and are willing to pay for these services. They originally planned to introduce a stablecoin called Libra last year.
However, the Libra project faced a lot of backlash from the state officials, who were worried that it could become a way for criminals to move easily. Since then, Facebook has been planning to continue with its blockchain journey under the name of Diem token. In the same vein, the social media network also introduced a new digital wallet called Novi, which is built on top of a blockchain that is prepared by Facebook developers.
Big Tech Companies Want to Enter Crypto Markets
The Big Tech or the FAANG stocks companies are the giants and world leaders in the matter of technology and innovation. The first one of the FAANG group (Facebook, Amazon, Apple, Netflix, and Google) was Microsoft. The Windows operating system manufacturer formed a partnership with Enjin, which is a blockchain integration platform. MS incentivized its developers by awarding them with rare and valuable NFT rewards. Other big tech companies like Atari, Coca-Cola, Twitter, Budweiser, Shopify, and many more have also gone on to purchase NFT artwork in the last few months. More and more institutions are entering the space. For the time being, the most popular NFT marketplace is OpenSea that generated a trading volume valued at $1.5 billion last month.
PayPal has risen to fame in the fintech industry all over the world. Due to the digitization of the economy around the globe, PayPal has been able to become one of the largest payment services providers in the 21st century. With PayPal, the users can access a digital wallet and connect it to their banks or any other monetary custodial service provider.
As per the executive brass of the digital payments giant, the company has always tried to adapt to the latest fintech innovations. Therefore, PayPal has been taking a keen interest in cryptocurrency trading for a long time. Recently, PayPal allowed users in the United States to trade digital assets with their PayPal wallets. Now, the payment innovator is planning to extend this new feature for their consumers in the UK.
PayPal users in the United Kingdom can now hold, sell, purchase, and exchange cryptocurrencies with their accounts. For the time being, only an accredited list of users will be able to access this option. Meanwhile, the institutional users of PayPal are still unable to get access to the new feature. The number of cryptocurrency options for PayPal is limited for the time being.
At present, PayPal wallet supports tokens like Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. On the other hand, the users who access the services with the help of mobile phone applications and websites can both access this option. Jose Fernandez Da Ponte is a senior executive at PayPal. He recently told the media that the service is planning to assist the consumers in the UK in making their financial payments trouble-free during the COVID-19 era.
PayPal to Promote Crypto Trading in the UK
At present, the consumers in the UK are facing strict regulatory pushback from the federal authorities. The Financial Conduct Authority (FCA) has introduced a ban on many cryptocurrency exchange platforms and restricted them from operating under the jurisdiction. However, PayPal reportedly shows a great number of followers in the European area. As per the latest estimates, PayPal has over 2 million active users in the United Kingdom alone. With other avenues for crypto trading become obsolete for UK consumers, the chances of PayPal crypto facilities gaining popularity are high. Since the CEO of PayPal, Dan Schulman, opened up about their cryptocurrency expansion plans last month, there are many rumors that PayPal might be planning to offer more crypto-related services in the region. Da Pote Jose also assured users that PayPal would continue their crypto trading options in compliance with the UK regulatory obligations.
from CryptocyNews.com https://www.cryptocynews.com/paypal-enables-uk-customers-to-buy-hold-and-sell-crypto-assets/
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There was a time when the cryptocurrency industry was based on a few digital assets before it starts evolving and now, it is an entire universe. Over time, several products and services have been introduced in the crypto-verse. Still, only a few products have managed to make it through the harsh and unsupported conditions.
One of the most prominent products in the crypto-verse today is the non-fungible token (NFT) industry. However, the entire world has only learned about the industry at the end of 2020 now. Although the NFT sector had been around since 2017, yet it did not gain much prominence until the entire crypto-verse gained worldwide recognition.
Before the entire cryptocurrency industry blossomed, it was only a case of survival for products such as NFTs and decentralized finance (DeFi). With global recognition and adoption of cryptocurrencies, these products have turned very fruitful for developers and users alike.
Since the beginning of 2021, the NFT sector has gained tremendous growth and adoption. Prior to 2021, the NFT sector only generated a few hundred thousand worths of trades and now, the industry generates millions in sales on a daily basis.
With every passing month, the NFT industry has been growing in size and the daily sales for the sector are also growing higher. According to the NFT data analyzing firms, the NFT sales are set to have a breakthrough in the month of August.
The data reveals that so far, the non-fungible tokens sales have grown to a record-high figure for the month of August. The data shows that so far, a total of $896 million worth of NFT sales have been recorded for the month of August.
It is being hoped that by the end of the month, the NFT sales will have crossed the $900 million mark. If this happens, then it is going to be an all-time high month for the NFT sector for the sales of NFTs.
This would mean that the NFT sector would have gained tremendous adoption and investments. This would bring in even more investors and users to the NFT sector, which would be a beginning of a new era for the NFT sector.
Prior to the month of August, the best month for the NFT sector was the month of May 2021. In the month of May, the NFT sector had achieved sales worth $255 million. However, the number of sales has skyrocketed in the month of August for the NFT sector.
Now, the month of August is the highest-grossing month for the NFT sector. The reason behind the sales growth for the NFT sector in the month of August is the launch of Axie Infinity and CryptoPunks.
from CryptocyNews.com https://www.cryptocynews.com/august-proving-to-be-best-for-non-fungible-token-sales-for-year-2021-so-far/
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Marvel has launched its initial NFT, which comprises Digital comic rewards to be sold on VeVe. The company is celebrating a month of collaboration with VeVe as it is releasing comic books through NFTs. It has been announced by the media franchise of America that Marvel Entertainment is much enthusiastic about launching the initial NFTs of the classics of Marvel comics on 19th August after its successful and licensed launch of Captain America and Spider-Man-based digital collectibles through NFTs.
So far, VeVe has conducted two sales. The very first Marvel NFT featuring Spider-Man was release via VeVe only a couple of weeks back. A total of 60,500 NFTs were purchased in only 24 hours. In the previous week, the company launched another NFT series named Marvel Mightys, which was purchased within just 30 minutes.
Digital Comics-based NFTs of Marvel
The company is firstly issuing the assets based on digital comic books. During this week, collectors, as well as fans, can purchase completely readable digital comics of Marvel via VeVe. Similar to the previous NFT collections, there are five categories of comics in terms of rarity, proceeding between Common and Secret Rare. The sale of comic NFTs will continue till today as well as present three distinct readable classics offered by Marvel’s archives.
The very first comic book of Marvel named Marvel Comics #1 was released through VeVe on 19th August. The initial portrayals of the original Namor and Torch of Humans, as well as the Sub-Mariner, are contained in it. Another, named Journey into Mystery #85, was released on 20 August. This book contains the first portrayals of Asgard, Heimdall, and Loki. The third of them is entitled Fantastic Four #1, produced by Jack Kirby and Stan Lee, showing the first portrayals of the beginning of the Marvel Age by the Fantastic Four.
The purchase of comic book-based NFTs by Marvel
The application of the Digital collectibles of VeVe is offered on both Android and iOS devices. The fans purchase and gather a multiplicity of NFTs, trade them and seek the rare or secret comic book-NFTs and collectibles. They are also capable of displaying their precious collection by means of completely modifiable virtual showrooms. Each of the comics was purchasable in five different covers in a format of blind box costing $6.99.
from CryptocyNews.com https://www.cryptocynews.com/marvel-rolls-out-its-first-ever-nft-digital-comic-books-for-sale-on-veve/
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If one thought that only China and Russia are the countries working on the CBDC project, then it would be a complete understatement. Ever since the beginning of 2020, several countries have expedited the development of the central bank digital currency (CBDC).
It may be true that China and Russia are currently taking the lead in the development and commercialization of CBDC. However, countries such as Georgia, Venezuela, Japan, India, Europe, and even South Korea are working on their own CBDC projects.
As the end of the year 2021 approaches, South Korea is also expediting the development of the CBDC. The government of South Korea had already worked on the development of the digital-won, with full support from the central bank of South Korea.
Just recently, the central bank of South Korea has provided updates on the development and testing of digital currency. The Bank of Korea (BOK) has announced that after finishing up with the development of the digital-won, it is ready for the testing phase.
The bank has announced that it has already begun the testing phase for the digital won (KRW), which is currently in its prototype stage.
The central bank of Korea has announced that the pilot for the CBDC will be carried out in two different stages. The central bank of Korea has announced that they want to ensure that the digital won is fully functional and without any flaws by the time it is launched.
This is the reason why the Bank of Korea would be carrying out the first pilot phase for digital won for almost 10 months. According to the BOK, the first phase will be starting from the next week, which would last until June of 2022.
Throughout the first phase of CBDC pilot testing, the tech utility and feasibility of the digital won will be assessed and fixed. This would ensure that the platform is fully capable of adopting all the updates and technological advancements introduced with the passage of time.
Following the completion of the first stage for the CBDC testing, the second phase will be initiated. In the second phase, the BOK plans on testing the cross-border remittances usability cases and the privacy-related issues for the CBDC.
This would ensure that the CBDC is fully secure and safe for the users to utilize on a day-to-day basis. The BOK has also revealed that throughout the testing period, it will have the support of Kakao, which is a tech giant. Furthermore, the BOK will also have the backing of Samsung, one of the largest tech giants in the entire world.
Throughout the testing phase, the BOK will have support from Samsung SDS and Samsung Electronics that are the subsidiaries/divisions for Samsung.
from CryptocyNews.com https://www.cryptocynews.com/south-korea-is-gaining-in-on-its-cbdc-testing-with-strong-supporter/
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The cryptocurrency market has had a lot of buzz in the recent era. Digital currencies keep attracting the business world and academia. This newfound currency has touched new heights and getting higher and higher day by day. It has made many investors skate big on digital currencies and big companies to start accepting chosen cryptocurrencies as a mode of payments.
This post comprises a cryptocurrency glossary to help you ease in this landscape and learn the terms used regularly in the crypto world.
Altcoin
Cryptocurrencies other than bitcoin are altcoins. They can be anything from Ethereum to any of the available coins with the minimum price value. It is usually wise to invest in known and more mainstream cryptocurrencies and play safe.
Bitcoin
Bitcoin is the most valuable digital currency. After its launch in 2009, bitcoin did not look back and has climbed steadily in value since then, although it has gone through fluctuations.
Bitcoin Cash
Bitcoin cash is a peer-to-peer online cash system. It emerged from a fork of the original bitcoin with the purpose of better optimization for transactions.
Block
It is a group of data within on cryptocurrency blockchain. Blocks consist of transaction records as users buy or sell crypto coins. Every block can hold a specific amount of information. Once every reaches the preset limit, it forms a new block to keep the chain going on.
Coinbase
Coinbase is a centralized cryptocurrency exchange that is known for its high-quality performance. It is the first digital currency exchange to go into the public.
Cold Wallet
Also known as cold storage, it is a secure method to store your digital assets entirely offline. Most cold wallets are hardware-based that look like a USB drive. This kind of digital wallet is handy in protecting your cryptocurrency from theft and hacking. But it does have several risks, such as losing your crypto.
Blockchain
The blockchain refers to a digital way of record keeping. It is also known as the fundamental technology and the digital ledger behind digital currency transactions. The blockchain is like a spreadsheet that can get into multiple copies to be shared among numerous different computers on a network. It is a decentralized database that no hacker can corrupt, though every record is public.
Peer-to-peer
The term peer-to-peer means two users who interact directly without involving an intermediary or third party.
Public Key
Public key refers to your cryptocurrency wallet’s address. It serves as your bank account number, which you can share with individuals or organizations. It allows these entities to send or receive money from your account.
Private Key
A private key is an encrypted code that enables you to get direct access to your digital currency. It works like a bank account password, which you need to keep confidential and secret to you only.
Token
Tokens are value units on a blockchain with other value propositions. It also works like a coin or transfer of value.
Crypto or Digital Wallet
It is an online or offline place to store your digital assets, such as bitcoin and altcoin. You can also find crypto or digital wallet on many crypto exchanges. Online or hot wallets are software-based, while cold digital wallets are usually offline and on a device.
Decentralization
Decentralization is the distribution of power from a central point. Blockchains require approval from all crypto users to operate and do modifications without a central authority.
Decentralized Applications
DApps are Decentralized applications designed by developers and used on blockchain to execute the necessary transactions without intermediaries.
Ever since the beginning of 2021, the cryptocurrency and blockchain industry has gained tremendous prominence and adoption rate. As the adoption rate in the cryptocurrency sector is constantly increasing, new firms are coming into being on a regular basis.
In a matter of 8 months, several billion have been invested by major cryptocurrency and blockchain venturing firms for several funding rounds. So far, hundreds of funding rounds have been led by several venturing funds and other major companies wanting to be part of the crypto-verse.
Just recently, Slope Finance has made an announcement, which is also for a successful funding round. Slope Finance has announced that it has successfully carried out and closed the funding round it had recently carried out.
From the funding round, the firm has successfully generated $2.3 million. The firm has revealed that the funding round was a seed funding round that was led by several investors.
Slope Finance has also revealed the name of the investors who participated in the particular funding round. The names of the particular firms that participated in the funding round include Krypital Group, OxVentures, Ausvic Capital, and Signum Capital.
Some other prominent investors include NGC Ventures, Fundamental Labs, SkyVision Capital, Rarestone Capital, GSR, Solana Capital, and Alameda Research. This goes to show how many venturing firms have been participating in the growth and development of the crypto-blockchain sector.
These firms have been making huge investments even in other crypto-blockchain startups. These firms have been making constant investments for the advancement and exposure of the cryptocurrency markets.
This is another milestone that has been achieved by Slope Finance in exploring the Solana ecosystem and also cultivating the benefits from it.
The Slope Finance team has announced that it will be using the funds generated from the funding round towards three major aspects. The first aspect would be to expand the team that Slope Finance currently has to cater to the needs of the customers and clients.
The second aspect would be to introduce more advancements and upgrades to the Slop Wallet. The firm will also work towards providing users with cross-platform capabilities for the Slope Wallet.
The third aspect would be the up-gradation of the Slope decentralized exchange. Slope Finance has reportedly launched its decentralized exchange through the mobile application, which is based on the Serum protocol. The firm will be using the funds for the advancement of the decentralized exchange and adding more features to the application.
The Slope Finance platform has been designed, developed, and launched through the Solana Network. Solana Network currently exists as one of the fastest networks for the flow of transactions. Furthermore, the network does not implement any transaction fees. The platform even offers users the ability to have a very customizable platform as well as access to trading bots.
from CryptocyNews.com https://www.cryptocynews.com/2-3-million-raised-by-slope-finance-following-a-successful-funding-round/
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As per the latest reports, BENQI has reported that it has reached a new milestone. The liquidity market protocol has announced that it has marked a new achievement in terms of total value locked (TVL). The protocol has announced that it has achieved a milestone of hitting a total value locked of $1 billion.
According to data, the protocol has successfully achieved this milestone in less than a week of launching Avalanche (AVAX). This achievement overcome by the BENQI protocol goes to demonstrates how much the decentralized finance (DeFi) sector has been adopted.
The DeFi sector is not just adopted by the individual or the retail sector, but even the mainstream institutions have adopted the system. The decentralized finance sector is constantly moving towards the when it comes to witnessing its growth.
Although the DeFi sector had been around since 2017, it got to make its real debut in the year 2021. This was the year when the decentralized finance sector turned explosive and witnessed an influx of millions of investors.
Since then, the DeFi sector has welcomed one project after another proving to be extremely profitable and lucrative for the users. This is the reason why the platform has gained tremendous market capitalization and value in the entire crypto-verse.
The major aspect of the decentralized finance sector was to help users borrow assets through the platform without any extra fees. This is the reason why the sector has gained tremendous growth and support from the investors and it is constantly growing bigger.
It was on Sunday, August 22, 2021, when Benqi Finance made the announcement in regards to its achievement in the DeFi sector. The firm shared its milestone through the Twitter platform, and it also thanked the entire community that supported the launch of the project.
The firm revealed that following the launch of the Avalanche (AVAX) Network, it observed tremendous participation from the investors’ end. In a matter of 24-hours, the firm reportedly observed its TVL grow all the way up to $200 million. Then in a matter of 48-hours, the TVL of the platform increased to $500 million.
From that point onwards, the protocol only continued growing bigger and its figure kept going up. As of August 21, 2021, the total value locked for BENQI protocol has reached an all-time high of over $1 billion.
The term TVL for a platform means how many digital assets have been staked on the particular protocol. These assets are not the assets that the protocol gives out in the form of loans. The TVL just represents the assets that a particular application has secured.
from CryptocyNews.com https://www.cryptocynews.com/benqi-marks-an-achievement-in-terms-of-total-value-locked-tvl/
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Ever since the people of the United States decided to change their administration in the November 2020 elections, crypto-sector has started re-emerging in the country. If you were to tune into any news from the United States in the year 2020, you would only see things going south for the crypto-sector.
Throughout Donald Trump’s tenure as the 45th President of the United States, things were completely in the dark for the crypto-sector. The industry was finding it difficult to breathe in the country due to Trump’s administration’s constant bashing of cryptocurrencies.
The cryptocurrency industry was about to be exiled from the United States when Joe Biden’s administration managed to push Trump’s administration out of the White House.
Since then, the entire cryptocurrency industry has found an open ground in the United States. The cryptocurrency firms that were once decided to leave the country have started doing the opposite. These firms are now expanding their businesses in the United States, offering more products and services to US locals.
This has even given confidence to many representatives that are currently running cities in the United States in different states. The first person to take a stand in favor of cryptocurrencies even during Trump’s administration was Miami, Florida’s mayor, Francis X. Suarez.
He was the one who welcomed the cryptocurrency firms to relocate to Miami City to set up their cryptocurrency mining firms. At present, the citizens of Miami City are allowed to receive their salaries in the form of cryptocurrencies including Bitcoin.
This time, it is a mayor from the state of Missouri who has expressed his intentions of adopting Bitcoin. The reports reveal that the mayor aiming to bring public exposure to Bitcoin is from Cool Valley.
The Cool Valley Mayor revealed that his intentions were to expose 1,500 residents in the area to Bitcoin. For this purpose, the Cool Valley Mayor stated that the public will be given Bitcoin. He stated that initially, he had thought of distributing over $1 million worth of Bitcoin over to 1,500 residents in Cool Valley.
The name of the current Cool Valley Mayor is Jayson Stewart who shared his thoughts about the adoption of Bitcoin for the citizens of Cool Valley. Stewart reportedly talked about the distribution of BTC among the users while giving an interview to KSDK, a news outlet for St. Louis.
Stewart stated that his effort is to introduce Bitcoin to every single household in the Cool Valley. This way, he wanted the people in the Cool Valley to have some acquaintance with Bitcoin. He revealed that he wanted to do it with the support of the donors as well as the government.
Stewart revealed that his intentions are also to use some of the money from the pandemic relief fund that the government has allocated to invest in this project.
When asked about the investment value, Stewart did not make a clear statement but he did confirm that the funds were going to be around $1.5 million. At the time of writing, the $1.5 million figure translates to around 30 Bitcoin (BTC).
from CryptocyNews.com https://www.cryptocynews.com/another-mayor-from-the-united-states-vows-to-bring-bitcoin-to-community/
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via Bitcoin News Today
As per the latest reports, ETC Group, a financial services firm based in London has made an announcement for its users as well as the investment community. ETC Group has announced that it is in the process of getting itself listed on the national stock market of Austria.
In the announcement, the firm has revealed that it is going to offer its portfolio of Litecoin (LTC), Ether (ETH), and Bitcoin (BTC) through Exchange Traded Products (ETPs).
The announcement made by ETC Group means that soon the investors would have access to three different Exchange Traded Products from the financial services firm. The firm has revealed that the users will have access to the LTC ETP, ETH ETP, and BTC ETP. ETC Group will have all of the ETPs enlisted through the national stock market of Austria.
The announcement in regards to ETC Group launching the ETPs through the stock market was made on Wednesday, August 18, 2021. In the announcement, it was confirmed that all three ETPs would be enlisted through the Vienna Stock Exchange, or locally known as Wiener Borse.
ETC Group has revealed that all three exchange-traded products it is going to enlist would be physically backed at a 100% rate. Furthermore, all the exchange-traded products would be cleared by the central counterparty.
The firm has clarified that it will be listing its Litecoin-based product, carbon-neutral Bitcoin product, and the Ether exchange-traded product.
ETC Group is already known to have launched several listings through stock exchanges belonging to several countries. At present, the countries where it has listed its ETPs include Germany, Switzerland, Netherlands, France, and the United Kingdom.
In Germany, ETC Group has enlisted ETP on Frankfurt Stock Exchange. In Switzerland, ETC Group has enlisted ETP on Zurich Stock Exchange. In the Netherlands, ETC Group has enlisted ETP on Amsterdam Stock Exchange. In France, ETC Group has enlisted ETP on Paris Stock Exchange. In the United Kingdom, ETC Group has enlisted ETP on London Stock Exchange. Now, the latest addition made by the ETC Group is through Austria’s Vienna Stock Exchange.
Through the exchange-traded products, the investors are not exposed to cryptocurrency assets that are unregulated and decentralized. This eventually makes the cryptocurrency assets full of risks and very unstable for investors to deal with.
Therefore, the exchange-traded products are introduced in order to fend off such uncertainties and risks. Through the ETPs, the investors are able to trade in a protected, risk-free, and regulated environment, while making profits through trades.
ETC Group has announced that it has acquired the service of Lang & Schwarz, which would act as the Market Maker for the company on the designated stock exchange.
from CryptocyNews.com https://www.cryptocynews.com/the-stock-exchange-of-vienna-will-proceed-with-listings-for-crypto-etps/
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via Bitcoin News Today
It is not new news regarding Bitcoin adoption that El Salvador is the first country accepting Bitcoin as its legal tender; many countries have shown the will to do so but never got through with it. Anyway, the country did go through with it, and at the moment, there is nothing wrong going on financially with El Salvador. Steve Hank, a professor at the John Hopkins University, highlights how inconvenient and unsettling it would be for El Salvador as it has adopted Bitcoin into its core financial operation. The country was not ready for the move despite World Bank stating; otherwise, El Salvador went for it.
The worst-case scenario, according to Steve, is the economic collapse within the country; according to the professor, the country would be burnt out if they don’t stop right away with their further implementation of Bitcoin into their financial accolade. The instability is expected to cave in as early as September. Professor Steve highlights all the notable points in his new paper featuring the implementation of Bitcoin by El Salvador and the economic collapse it will bring.
El Salvador Should have Consulted more Before Embracing Bitcoin
These spotting elements were the warnings issues by IMF, World Bank, and US Department of state to El Salvador for revising its decision regarding the approval of Bitcoin as a legal tender. But El Salvador didn’t care much for it and went with its intuition. The most common reservation was that cryptocurrency such as Bitcoin can be used for money laundering within the country or, worst yet, for other various illicit activities, and this would eventually bring about economic collapse going through the currency chaos within El Salvador. Many other corporations and organizations in place to stop money laundering and the use of cryptocurrencies for illicit activities have shown the same reservations about El Salvador’s move regarding the implementation of Bitcoin as its legal tender. Enough data is not present at the moment to ascertain whether or not the professor has something rock solid to go with, but it definitely points some fingers towards El Salvador’s hasty move to embrace the crypto space.
from CryptocyNews.com https://www.cryptocynews.com/el-salvador-is-playing-with-fire-ignoring-world-bank-imf-warns/
via Bitcoin News
via Bitcoin News Today
Although there is no specific strategy for ensuring investment returns, you may set yourself up to succeed by selecting trustworthy online brokerages for your needs, such as SagaTrade. In this SagaTrade review, we’ll go over everything you should seek in your ideal brokerage, from the obvious to the less obvious.
The objective of a brokerage is to make the game easy for anybody who wants to participate in the capital markets. These markets are excellent for providing endless opportunities to everyone who desires to trade, and you can make a substantial profit if you do it right. This indicates that you must make smart choices, along with the broker you select for your trades. That’s not something you can pass up because they are in charge of providing you with the items, platforms, conditions, and tools you need to trade. Many of the legendary things we formerly believed are now trendy and popular. The internet is transforming not only our lifestyle but also the business world around us. Trading in the stock sector is not something to be performed on the side.
However, it is a well-established industry that requires hard work and may be followed as a profession. However, there are few other unresolved questions, such as where to begin. How can it be achieved? Brokerages come into play here. Anyone would be interested in learning what they do and how they function. This might be puzzling for anyone who wants to set up a trading career but is having difficulties locating a broker that fulfils the standards the individual appears to have in mind. When you have lots of them in front of you, it might be tough to pick one or select a few of them as they all look the same to you.
A broker’s duty is to provide you with all of the information you have to get starting the trading business. Finding a good brokerage business that is trustworthy and effective, on the other hand, is not straightforward and may need a good deal of time spent learning on the internet, browsing for hours until you ultimately locate something that matches your interests and requirements. I am no different, having spent a significant amount of time seeking a broker who might aid me in expanding my brokerage company.
So, what can be better than hearing you can trade while lying on the couch with nothing but a gadget in your hand and a web connection? The whole financial market is about as far away from you as your device’s display is from the tap of a finger. While sitting at home, you might earn thousands upon thousands, if not billions, of cash.
Your selection will have an impact on how much money you make in the long run and also the field of expertise you will have. Obviously, you don’t want to cope with too many difficulties, and you just want to maximize your earnings; this can only happen if you engage with such a broker who can effectively assist the entire transaction. Before, it was not possible for everybody to enter the world of commerce. However, the development of the concept of online trading opened up new opportunities for all traders.
The main point here is what elements should be examined when choosing a broker because beginner traders have limited experience in the industry and may find it tough. So, in order to choose the best broker, traders need carefully examine all of the features and services that the broker provides. This will assist you in defining your priorities and selecting the right broker for you. SagaTrade is among the numerous brokers that can be found online.
It is not an overstatement to say that SagaTrade is among the best brokers available. I recognize that almost everything you read or see on the internet says an exactly similar thing, but I’m not simply stating it; I’m going to go into depth and clarify everything to you to allay any fears you may have. So strap in, as this is likely to be a crazy ride.
Although choosing a broker takes time, you do not have to worry since it is what I am here for. Before joining SagaTrade, I performed considerable research and sought to dive into hundreds and thousands of them. You may now raise and develop your market knowledge with SagaTrade. As a result, I’ve chosen to offer you the SagaTrade study report. Going back in time, we could see that tariff-free commerce was only available to the privileged or affluent classes because they could afford to spend money on it and profit from it. Furthermore, there was no concept of completing activities that won’t require you to go outdoors in the field or, at most, to work locations, but work from home is now a reality.
Profitable investment necessitates the use of a brokerage company that suits your trading objectives, learning objectives, and learning style. Choosing the best online brokerage for your requirements, particularly for beginner traders, might make the difference between a huge new cash stream and a sad letdown.
In the capital markets, your stockbroker and the brokerage firm you select are critical. It is crucial to remember that in order to be the best trader, you will need the best broker who will provide you with capital products, a trading system, instruments, and the proper conditions.
How to Choose The Right Broker for You
Accessibility to the capital markets is inexpensive and simple, thanks to a variety of brokerages that operate via internet platforms.
Online brokers serve a wide range of consumers, from long-term shareholders to aggressive and skilled traders. Choosing the finest online broker requires some study in order to get the greatest value for your money. When it comes to SagaTrade, it’s clear that it’s a newbie broker, and establishing such an outstanding reputation so quickly is undeniably amazing. So, what attributes have helped it achieve this goal?
SagaTrade is a company you’ll come across during your research, and, like others, they’re providing their service to you, but how will they help with trade facilitation? Before you decide to use them, you must first understand the answer. A few of their services include the ones listed below.
Asset Index
The first thing you should learn about any broker is the asset index. What instruments and marketplaces will be available for trading? Why is this required? It is significant since it influences the amount of profit you gain at the end of each day.
Every trader will be pleased with SagaTrade’s asset list since they’ll be able to identify anything that fits their risk tolerance. They have provided their users with some of the world’s largest financial marketplaces, and you can discover the best alternatives from each.
Major and secondary forex currency pairs, equities and commodities, and a variety of cryptocurrencies are all available for trading. This makes it simple for traders to broaden their portfolios and reap significant rewards.
Trading Platforms
A brokerage’s trading platform, which is also the software utilized for trading activity and linking to the markets, is another key product. If the software is inadequate, you will pay the ultimate price in sort of a bad and complicated trading experience.
SagaTrade is extremely comprehensive in this regard, as they have introduced a lot of trading platforms to their services. They created their own online platform, which does not require downloading or installation.
It is equipped with cutting-edge technology as well as the most modern trading tools, allowing for rapid execution and real-time outcomes. Aside from these alternatives, you will be capable of utilizing the MT4 and MT5 trade platforms, which are often regarded as the best solutions on the market. They are a favourite among merchants all around the world and may provide everyone with a powerful experience.
Moving up with the times, SagaTrade has introduced mobile trading applications both for iOS and Android to its services, which can be used for trade when out and about. They provide traders freedom, and you may choose the platform that appears to be the best fit for you.
Every broker offers trading instruments that you may utilise to profit from the financial markets. However, if you take a look at any of those platforms, you’ll see that each of them has a distinct set of products to offer. It is essential to double-check that the alternatives provided to you are profitable and appropriate to the marketplaces you intend to enter. SagaTrade appears to be a good fit for everyone in this regard since they provide their clients with access to many of the world’s main financial markets. You will be free to trade in FX, stocks, shares, commodities, as well as the cryptocurrency market on this platform, allowing you to diversify your portfolio.
Gaining access to the most important markets
Millions of people trade in capital markets, but not many of them get to earn the rewards they desire. One of the causes for this is their instrument selection. Not all markets may provide the same degree of profits, and you must select those that will assist you in attaining your objectives.
All brokers do not provide access to markets of your choosing, so keep this in mind when joining up with anybody. SagaTrade is a good alternative in this regard because they provide their clients with access to the majority of the world’s biggest financial marketplaces.
You may trade assets from some of the world’s most important financial markets, including the FX currency market, equities, indices, commodities, and cryptocurrencies. SagaTrade has introduced the most lucrative choice from each market, which might assist traders in choosing the instruments they want. Everyone may find simply diverse their portfolio, which aids in risk reduction and returns maximization.
Account Options
Another unique feature of SagaTrade is that they’ve never sought to classify their clients. . They understand that every trader is unique, with varying risk capacity, trading styles, and budget. As a result, they’ve created a number of account options to satisfy their clients. Many brokers offer account options, and instead of the usual three to four, you’ll have seven to pick from.
The various degrees of recognition include bronze, silver, gold, platinum, diamond, premium, and VIP. Each one of these subcategories was created to satisfy the needs of a specific type of trader, including a novice, intermediate, advanced, skilled, or specialist.
Security Measures
While internet trading is simple, it does come with extra risks in addition to those connected with trading. All of these are the concerns that people have when revealing personal information to a broker and making payments. You may be compelled to pay the price if scammers get entry to either of these. As a consequence, you would like a brokerage that takes adequate security precautions, and SagaTrade thrives in this regard as well.
Their security methods are notable because they have implemented steps to limit the risk of money loss by implementing distinct account regulations. To prevent theft, all account holders are segregated, and funds are placed with respected financial institutions.
SSL (Secure Socket Layer) technology and internet encryption are also used to restrict access to private information. Finally, SagaTrade adheres to KYC and AML requirements, which can reduce the risk of financial fraud, data breaches, and money laundering.
Excellent client service
Customer service is one of the most important aspects of a brokerage that many traders overlook. It may drastically affect your trading experience since if you don’t get the support you need when you need it, you won’t be able to trade. Obviously, you do not like to be left hanging, and SagaTrade has assured that its consumers will not be in this situation.
They have introduced first-rate support alternatives for its customers, including live chat 24/7. You may also request a callback by completing the online contact form on the website. Aside from these choices, a FAQ area has been introduced to its website, where you may get answers to frequently asked questions. There is also a range of educational materials available to individuals in need of advice and understanding.
Signing up is simple
When choosing a broker, the very first step a trader must take is to join up with it, which cannot be overlooked. Because the main reason for choosing a broker is to obtain access to a market and begin trading, but if you do not pick a broker and do not have a trading account, no financial market will enable you to participate.
What considerations might help you choose a more adaptable broker that understands the value of time and does not give traders a hard time? Because brokers must, at the end of the day, assist traders, it is their job to do so, and one aspect of that is enabling them to sign up quickly.
SagaTrade is a broker that knew exactly its clients’ needs. Furthermore, unlike many other brokers, it chose to simplify the sign-up process rather than ignore the audience’s demands. SagaTrade is the broker to choose if you want to make a smooth transition into trading.
What are other people saying about SagaTrade?
It is easy for us to educate you regarding SagaTrade with all its benefits, yet many of you may remain dubious. In addition to viewing the website ‘sagatrade.io’ and seeing what we’ve talked about firsthand, we’ll also present several reviews about the broker in reality. It should enable a better understanding of how fantastic SagaTrade is, and we’re not biased, but rather speaking from a completely impartial, reasonable, and pragmatic perspective.
The reviews are of trustpilot.com, although there are numerous sites and platforms where people assess various brokers, notably SagaTrade. Here are some of the reviews which have been published about SagaTrade.
Jack Richer of the United Kingdom is quite pleased with SagaTrade’s extensive selection of instruments, which includes stocks, shares, and even cryptocurrencies. SagaTrade’s functionality and customer service are important to James Hughes, who is also from the United Kingdom.
Because of the lack of deposit fees as well as the availability of low margins, he considers it his favourite trading platform. Dima Bachoy from Spain commented that the processing speed is truly first-rate, or that not usually have to wait for an unreasonable amount of time before making cash withdrawals, and a cash deposit is exactly what is necessary for today’s fast-paced environment.
Conclusion
SagaTrade’s other features include 24-hour customer support, a variety of account types, extensive teaching programs, and favourable trading circumstances. There are several examples of people who have made money through trading stocks or day trading.
So, have you joined SagaTrade? If you haven’t already, join right away; if you’re fresh to trading, join straight away. I say this because I don’t think it would be a good idea to put off investing because market prices are rising too rapidly, and good assets are out of reach. In this situation, the SagaTrade trading platform might be quite useful in your initial trade.
Applications for the license of the two latest Ethereum-based funds, which are exchange-traded, have been submitted by companies named ProShares and VanEck. Thus, the total number of ETF filings is now 23. Both the companies have disclosed their intentions for Ethereum –based institutional products. The records in the filings submitted to the Securities and Exchange Commission (SEC) of the U.S. on 18th August show that ProShare is interested in releasing an Ether Strategy ETF, whereas VanEck is seeking to propose Ethereum Strategy ETF.
The target of these ETFs is to offer ETH exposure by making investments in the future contracts of Ethereum along with the vehicles of pooled investment as well as the exchange-traded goods that provide an experience of Ethereum trade. The funds will not purchase Ethereum straightly, as the documents describe. Although the companies have filed to have Bitcoin ETFs in advance, the SEC has not approved them yet, and it is delaying in sanctioning them. An application has been submitted by Kryptoin for a trust of Ethereum ETFs, which was the 21st such application during 2021, and these two applications made them 23.
Nate Geraci, the ETF store’s president, stated in a report that it appears to be most likely that the approval will be granted to an ETF of Bitcoin futures before that of an Ethereum futures ETF. He added that it would not be astonishing if an ETF of Bitcoin future gets approved. ProFunds has a branch named ProShares which operates several investment funds containing joint assets which are under management. The worth of these assets is nearly $50B, while VanEck owns a total amount of roughly $65B.
On 7th May, VanEck filed to have an Ethereum ETF. Some two weeks later, on 28th May, Wisdom Tree submitted a request to the SEC to operate a similar fund. It was in June that ProFunds Group filed for an ETF to SEC. On 10th August, It has been reported that Gary Gensler (the SEC chair) signaled that he would be pleased to approve more ETFs that are designed for crypto futures instead of the direct exposure, which is somewhat difficult to experience. On 9th August, another prospectus has been filed by VanEck for an exchange-traded fund based on Bitcoin Strategy.
from CryptocyNews.com https://www.cryptocynews.com/proshares-and-vaneck-file-applications-for-ethereum-futures-etfs/
via Bitcoin News
via Bitcoin News Today
Coinbase is a crypto exchange platform based in California and has big plans for the future. The company has recently announced a new policy for investing in crypto assets as a way of diversifying its investment portfolio. The company representative claimed recently that since Coinbase is in the business of trading in cryptocurrencies, it wants to expand its horizon by investing in the digital assets itself.
The company plans to set aside 10% of its quarterly income for investment in a variety of cryptocurrencies. The investment policy estimates that at least $500 million cash can be set aside for the acquisition of viable asset classes that are picked by the investment strategist. Coinbase wishes to lead by example and make cryptocurrency more common investment option for institutional investors.
Coinbase has decided to invest a sizeable portion of its profit into cryptocurrencies. The exchange enterprise wishes to hold selected altcoins and tokens as a way to expand its investment portfolio. During its recent press briefing, the company management pointed out the potential candidates that are going to become part of the investment options at Coinbase.
As per the briefing, Coinbase is going to become the first publically traded enterprise in the United States to hold tokens like Ethereum. There are also several other PoS altcoins and DeFi tokens that are going to become part of the crypto investment pool for Coinbase. Bitcoin is also going to be a major part of the holding. Coinbase plans to deploy the virtual assets through the dollar and cost averaging method over many years.
Coinbase has Started Various Ventures to Become the World’s Leading Platform
Coinbase has been making an effort to push forward and become the global leading name in the crypto exchange industry. Pursuing the same efforts, Coinbase has opened up a branch office in Japan. It is worth noting that Japan is a highly potent market for cryptocurrencies. On the other hand, Coinbase is also trying to establish a good understanding with the regulators in the USA. Recently, the company has decided to sell forensic research software to the Customs and Immigration office of the USA. Coinbase has also found common grounds with US Secret Service by signing up for a confidential corporation deal with the department. Enterprises like Kraken crypto exchange and Circle USDC coin developers are also planning to go public following the example of Coinbase.
KYC (know your customer) is a policy most commonly practiced and upheld by crypto exchanges working around the globe. According to this specific policy, any and all customers looking forward to registering themselves with a respective crypto exchange must declare any personal information such as their name, address, business credentials, and more. Binance, the world’s most efficient crypto exchange, has only recently made KYC an integral part of the registration for present and upcoming clients.
This has been done in the eyes of emerging political and regulatory pressure on the exchange as it has made some blunders in the past that have seriously rebuked its trust among world officials. Now it seems that Binance is not ready to take any risks and, therefore, will be implementing harsh regulatory protocols.
Binance is Going to Impose Regulatory Measures Amid Regulatory Pressure
The world regulatory standards have gone up, and that is why Binance is taking every step to ensure that it can very well stand by these standards and provide the best and most protected crypto-oriented service to its current and upcoming customers. The first step in this whole process is to provide the exchange with a duly scanned copy of a government-issued ID and the most recent picture of the user for facial verification.
And for those who are active members of Binance but still haven’t completed their KYC verification, their access to their own accounts will be limited to ‘withdrawal’ only. This means that they won’t be able to credit their account, neither with cryptocurrency nor fiat, and the only thing that they can do is withdraw their funds. This is a strange practice by Binance, but it is the only one that is going to make all those customers respect the regulations and fill up their KYC queries. Another thing that you should be aware of is that Binance offers the maximum withdrawal of 2 BTC, but for the non-verified accounts, this value drops all the way to 0.06 BTC until unless they don’t fill up their KYC and submit it in the allotted time.
Are you aware of the fact that you can now conduct online trading? Like, you are in no longer need to travel and meet your trading partner in person. Everything can be done online with the help of a brokerage firm that will serve as a link between you and the financial market. There are so many brokers available on the Internet today. It is actually flooded with traders yet, don’t be overwhelmed by this. Picking an ideal trading platform is a time-consuming and complicated procedure for sure. I was also unsure about which platform to use. I, too, didn’t want to lose all my money at the claws of a shady brokerage, and therefore, I searched endlessly for days. Now that I know one of the best platforms online, I believe it is my responsibility to tell you about it so that you can also reap tremendous rewards. Standpoint Trading is the name of the trading platform I am currently referring to, and I will go into great depth about its perks and benefits in this Standpoint Trading review.
Are you ready to bring about a substantial financial transformation in your life? Are you up for this exciting journey that would finally knock you free from the hand-to-mouth condition you have always struggled with? Well, if your answer is a yes to any of the questions I have mentioned above, you are on just the perfect page. Continue reading, and you will find out precisely what I am talking about.
Well, I will begin this review with a precise introduction to Standpoint Trading. As I previously highlighted that it is a trading platform that provides a variety of investment vehicles to its clients; Ethereum, Bitcoin, oil, gold is some of the alternatives available for its customers. It provides business owners of all educational backgrounds and working experiences, from beginners to experienced traders, with a variety of trading platforms that have been specifically tailored to cater to the needs of each and every one of the investors. Standpoint Trading is a prominent trading firm that employs an innovative social network that is solely intended to make trading easier and more intelligent. A comprehensive and customer-oriented business strategy allows them to achieve their goal of being the world’s top trading forum while also providing genuine service quality to their customers.
Reliable Brokerage Firm
Trading may be a lucrative source of revenue. Individuals have always been associated with trading, and even today, more and more individuals are planning to become involved in it. However, people these days are more into trading online since it’s way faster and easier to perform than the conventional form of trading that was indeed very difficult. Formerly, trading was a draining and time-consuming endeavor. To locate trading marketplaces and find brokers, traders had to go out and seek for them personally. They lacked access to platforms that would connect them to the monetary market. Even if an investor managed to locate a trader, he was forced to depend significantly on him in order to protect his assets. Brokers, on the other hand, only provided a restricted range of services. Traders were generally ignorant of the state of the money markets, and a feeling of uncertainty dominated the economic climate, making customers very hesitant to invest and trade. Thanks to the advent of the Internet and technology, the whole trading dynamics have evolved.
The practice of internet trading is becoming more popular in today’s society. The internet marketplaces are serving way more than a traditional broker in many ways. They provide a number of advantages, the most important of which is the ability to participate independently. These venues provide users with the option of selecting from a variety of goods to trade. Do they prefer trading commodities? They can go for it. Are they interested in Bitcoin and other cryptocurrencies? Brokers will also provide that. Brokers likewise provide a wide range of business technologies, as well as unbound access to educational materials and customer support, among other things. By using these intermediaries, a person may get control over the trading system while also learning about it and gaining access to the commercial industry. Nearly every day, new users sign up for different channels. As an experienced trader, I feel obligated to warn you of the dangers that may be involved. Not all brokerage firms are suitable for your needs. Many traders have had horrible situations where fake brokerage sites have taken their accounts and cash and magically disappeared, causing them to lose all their hard-earned capital. As a result, before setting up an account, you must thoroughly research the system and choose one that others have recommended based on experiences. A broker might lie about the services they offer and might sugar coat things, but reviews, like the one I am writing right now, are always legit and are directed to help individuals learn about their desired brokers in even detail.
Standpoint Trading unquestionably satisfies the requirements of a reputable internet trading company. One of the most important considerations that every trader should take into consideration is that his or her broker should be in constant collaboration with the financial market as the market may alter at any moment without notice. When the financial sectors begin to tank, cryptocurrencies begin to collapse at an alarming rate, and so, every participant withdraws his or her funds. This necessitates you being readily accessible to the marketplace at all times. When trading online, you will be in need of making immediate decisions, and therefore, it is important that you are linked to your broker at all times. However, you will not be able to carry your personal computer with you wherever you go. It’s for this reason that Standpoint Trading allows you to buy and sell from any location you pick. If you are relaxing at home, spending time with loved ones, or enjoying at a friend’s place, you may also do business via your cell phone. Pretty simple, right?
In addition, Standpoint Trading has adopted a customer-centric business strategy. Every step executed by this firm is solely intended to offer satisfaction and assistance to their customers, who themselves appreciate the importance of real freedom they have. The ease with which their website is being designed, the advice is provided on each stage of the trading process, and their response via their user care service are all simply remarkable. They have also included a variety of techniques and services that are designed to give novice traders a welcoming atmosphere in which to flourish.
Easy Sign-up Process
Standpoint Trading is a brokerage firm that welcomes everyone. It is open to anyone, and everyone, novices as well as professionals, may participate as per their requirements. Professionals will be aware of the ways in which Standpoint Trading has streamlined its trading processes and has made them as rapid and versatile as possible. For those who are new to trading, I can tell them that they will have no problems while utilizing this internet-based trading forum. Each process has been simplified, categorized, and described in detail so that users can easily comprehend how it works. Even in case of confusion, if a trader needs some help, they are just a few blocks away from professional assistance, which is readily available. Just like the whole trading process has been simplified for users, signing up is likewise is really easy and quick.
The very first milestone in your quest for trading will be successfully signing up with your broker, and trust me, with Standpoint Trading, you will achieve this milestone really quickly. Signing up is the moment at which your trade trip officially begins, and therefore, it should be on point. Regrettably, many consumers do not have the opportunity to participate in the easy sign-up procedures as they are frequently required to input large amounts of data, papers, images, and other materials, which may be a taxing job. The Standpoint Trading registration procedure, on the other hand, is maintained as easy and as one-of-a-kind as possible. Standpoint Trading understands that the time and attention of the client are the essential factors in every business transaction, and hence, it never intends on wasting them with such elongated sign-up procedures. Simply going to the trading website and entering your identification details is all that is required of you. This information is crucial for the consumers to provide since it will be used to build your trading portfolio. You enter some basic details, and you are all set on your trading ride.
Account Options Provided by Standpoint Trading
Traders have a wide range of requirements, ambitions, and financial resources. Some traders are seasonal individuals with decades of experience, whereas some have heard the word “online trading” for the first time. Similarly, some traders are on a high budget, but others are short on financial resources. Such diversity is common among online traders, and that’s absolutely fine. However, such variety calls for different account types since, obviously, a single account type will not be suitable for all users. When investors are evaluating potential brokerages online, they do consider the account kinds it has to offer. There are several brokers with just one or two types of portfolios to supply their clients. However, since such profiles are very restrictive, most users find it difficult to adapt to them. As a result, people show hesitancy in investing in such brokers.
However, some firms, just like Standpoint Trading, provide a wide range of options as they recognize how each user has distinct needs and that in order to meet those varying demands, they require a particular account type. The account types an individual opt for depends on his or her total trading expenditure, level of experience, attributes, and trading style in general. For example, if a person is new to the industry, he or she will seek an account type that is dedicated to educating them on the fundamentals of trading and, therefore, introducing them to this new world. A professional trader, on the other hand, will probably seek an arrangement that grants him a variety of tools and trading instruments, as well as greater earnings and a variety of other benefits.
Standpoint Trading acknowledges the variety of its customers and has deliberately crafted the account types to ensure each customer may find an account type that is appropriate for them. Each is distinctive with its own manner and appeals to a particular set of traders. There are five different account categories to you can choose from explorer, basic, silver, gold, and platinum. Each account has its own number of functions as well as a distinct range of deposits. As the amount of the deposit grows, more features will be made available to the customer. In any case, it’s worth noting that even the most basic of accounts, the Explorer account, which needs a minimum investment of $3k only, offers adequate trading tools such as technical support, professional charts and graphs, 24/7 customer support, cross-platform trading, and so on.
Excellent Customer Support
When it comes to internet-based trading, there are a number of barriers that an individual faces. Lack of consistent assistance is among the greatest difficulties for many customers is that they are usually granted limited access to financial advice at different levels. That’s really sad, though, as numerous people are actually clueless about how their trading platform operates and, therefore, require constant guidance of what-to-do and how-to-do, and that makes total sense. Online trading is relatively new, and people will take time to adjust to it. Perhaps, some brokers ignore the need for excellent customer service as they are too busy making their own profits. Consequently, in numerous instances, the consumers execute trade transactions relying on their crazy conclusions and limited knowledge only. This results in their loss, obviously. Moreover, countless prospective clients are compelled to go through the painful experiences of them going bankrupt owing to the absence of assistance from the individuals backing them. Nevertheless, it’s something very disappointing since it is the only duty of the brokerage to assist all of the individuals who have obviously paid significantly for their assistance.
Standpoint Trading completely recognizes that its traders may need assistance at any particular moment in time and has, consequently, put particular time and effort into adequate service quality. You can reach their skilled staff 24/7; isn’t it really that awesome? No matter whether you are a beginner trader, who is entirely new to the internet trading industry, the staff would be happy to assist you in a manner that you would totally comprehend. This commitment to ensuring the satisfaction of the customers is what defines Standpoint Trading as among the best trade facilitation companies in the market. In comparison to other providers, where each customer gets only a small number of advisory accessibility and has to adjust their schedule to receive guidance about the resource they are investing into. Additionally, Standpoint Trading completely realizes that individuals have various other responsibilities too, aside from buying and selling products, and are, thus, available to assist as per your availabilities.
Unparallel Safety and Security
Security is something each and every individual seeks while investing. As a beginner user in the area of digital trading, you must be conscious of the deceptive practices that are out there, awaiting clients to fall victim to their cunning schemes. As a result of the abundance of alternatives available for selecting a broker on the Internet, there are also numerous opportunities to fall prey to scams among those options. As a result, always double-check your broker’s security and protection procedures prior to actually finalizing your agreement with them. You are fortunate in this case as Standpoint Trading genuinely cares for your safety and has every step it could in order to guarantee it.
The confidentiality of investors cannot be jeopardized in any way, and Standpoint Trading is doing more than almost any other company to ensure it. As a result, if they are not certain that their investments are secure, it would be difficult for them to manage their trading activities and actually concentrate on them. Consequently, Standpoint Trading is the most suitable choice due to the fact that it has taken absolute care of users’ privacy. It is under the watchful eye of numerous monetary regulations and has embraced two of the standards to strengthen the security of the users. The first of them is KYC protocol which compels a trader to provide proof of his or her identification and location before signing up. The other is called AML, which maintains track of all of the activities that are carried out by traders. For the broker’s protection, Standpoint Trading has integrated SSL strong encryption into its platform, which is responsible for keeping the consumer’s information safe and secure behind a number of layers of protection, such as firewalls and intrusion detection systems.
Conclusion
Standpoint Trading provides its customers countless features and services which are presently not accessible anyplace else. If you’d like to have such a successful trading encounter, choose Standpoint Trading. Trust me; it would be the best decision you’ve ever taken.
When the cryptocurrency industry came into being, the country that took the lead in the mining sector for Bitcoin (BTC) was China. If you think that China only took the lead in the initial years of the advent of cryptocurrency, then that would be an understatement.
Even until the year 2021, China had the lead when it came to the adoption of cryptocurrency mining. The Chinese sector had been really active when it came to mining Bitcoin. According to records from the crypto-mining data analyzing firms, until May of 2021, China was responsible for mining 64% of the total Bitcoin around the world.
However, by mid of May 2021, the Chinese regulatory authorities decided to take matters into their own hands. The regulatory authorities in China became very aggressive and active against the crypto- and Bitcoin-mining firms in the country.
The regulators from China continued cracking down on the mining firms in China. This led to all of the mining firms being closed down in China until the end of June 2021. As a result, the entire mining sector ended up getting shut down in the country.
While the regulators in China were dealing a swift blow to the mining firms in the country, the North American region was busy monitoring the situation. The countries in the North American region started welcoming cryptocurrency mining farms to their territories.
The North Americans made full use of the opportunity and announced that their lands were open to the mining farms wanting to relocate from China. These countries offered open lands with high electricity/energy reserves. Therefore, the mining farms shut down in China decided to move to the North American regions.
As the relocation phase was completed for most of the mining farms by July, the North American region started generating high mining results. This meant that the North American region has started high hashrate versus other regions in the world.
While old mining firms are moving to North America, the existing mining companies in the region are observing even higher mining rates. For the month of July, the major publicly listed mining firms from North America have shared promising mining results.
The five major mining firms in North America have reported that together, they have successfully mined 1,802 Bitcoin in July. The firms have revealed that it is 59% high mining rate than the former month of June.
The names of these major firms from North America include Bitfarm, Hut8, Argo Blockchain, Riot Blockchain, and Marathon Digital. These mining firms have demonstrated great participation in the mining of Bitcoin from the North American region. They have reported that they have even become more active in mining Bitcoin since the Chinese crackdown on its crypto-mining sector.
from CryptocyNews.com https://www.cryptocynews.com/north-american-mining-firms-close-to-leading-bitcoin-mining-industry/
via Bitcoin News
via Bitcoin News Today
