Mastercard Releases Crypto Credential Platform for Supporting Cross-Border Transactions

On April 29, the second largest payment platform, Mastercard, launched a new crypto credential platform. Mastercard Crypto Credential’s platform aims to support the customer to comply with the verification requirements.

The developers of Mastercard’s new products confirmed utilizing emerging technologies to mitigate cases of crypto exploits. In their report, the payment platform outlined the features of Mastercard Crypto Credential.

Features of Mastercard Crypto Credential

During the launch, the Mastercard team confirmed that the users would receive an innovative digital identifier to expedite the verification process. The developers were pleased to announce that the identifier ‘s code will be utilized to confirm the user’s addresses. 

At the primary verification stage, the Mastercard Crypto Credential system will evaluate whether the user conforms to company compliance requirements. Reviewing Mastercard’s latest development, the new products have integrated metadata which supports the user to uphold compliance.

According to the report, the payment company leveraged their expertise and infrastructure to develop a secure platform to safeguard users from malicious attacks. Also, the security protocols implemented on the Mastercard Crypto Credential will ensure the customers locked assets are safe. 

In addition, the security measures adopted by Mastercard will block any suspicious activity on the platform. The team affirmed to continuously assess the system to identify any vulnerability that could lead to the loss of unique identifiers.

However, in a scenario whereby the attacker excels in breaching Mastercard security protocol, the new verification system will notify the technical team.

Mastercard’s Development in Crypto

Speaking at the Consensus 2023, Mastercard’s head of digital assets, Raj Dhamodharan, confirmed that the new platform supports compliance with the Financial Action Task Force (FATF). He stated that Mastercard’s latest development aims at eliminating exchange complexity between countries.

Besides the cross-border challenges, Dhamodharan stated that the developers of the new platform utilized emerging technologies to support compliance with the FATF regulations, dubbed as the travel rule.

Citing the travel rule requirements, for any transaction amounting to $1000, the sender and receiver must disclose vital information to the virtual assets service providers.

Dhamodharan confirmed that development of the new platform involved leading tech and crypto firms, including Mercado Bitcoin, Avalanche, Lirium, Aptos, Polygon and Bit2Me, to pursue suitable solutions for user verification. Additionally, at the initial development stage of  Mastercard Crypto Credential, the developers sought technical solutions from Uphold, Solana and Cipher Trace.

In 2021 Mastercard sealed a merger and acquisition deal with Cipher Trace. The acquisition agreement allowed Mastercards to utilize Cipher proprietary tools such as CipherTrace Traveler.

Mastercard Reveals Next Move

Cypher technologies were adopted to assist the execution of address verification and enable the user to engage in cross-border transactions compliantly. After the successful launch, the Mastercard team, in collaboration with business partners, planned to test the new product in the US, America and the Caribbean.

Over the past few years, the Mastercard group have actively participated towards developing the crypto industry. Recently Mastercard collaborated with Polygon Networks to develop a non-fungible token (NFT) for musicians. The NFT provided the holder with exceptional tools in artificial intelligence (AI) and other emerging technologies.

The race to dominate the digital payment sector has prompted Visa to replicate Mastercard’s strategic action. A few days ago, the Visa team announced plans to launch a stablecoin that will be utilized to settle payments.

In the meantime, the Visa group is seeking to recruit candidates with vast experience in Web3, cryptos and blockchain.

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XFortunes Review – What’s In It For You? (x-fortunes.com)

About the Brand

XFortunes offers market access in the form of CFD trading for anyone, in return for a small initial deposit. This is a broker with extensive knowledge of what traders need in order to succeed in this environment.

Working with XFortunes may be a good pick when considering all the benefits currently part of its offering. However, this brand does not yet benefit from broad online coverage, so we want to make a first step by discussing the key benefits available with XFortunes.

Asset Coverage

One of the first things traders look at is the asset coverage. The ability to shift from one asset class to another is a powerful diversification tool, especially when some markets become choppier. That’s a clear signal that you need to start looking for opportunities somewhere else and with XFortunes, you can choose from 300+ different assets.

FX, crypto, shares, indices, commodities and ETFs are all part of the list and create numerous benefits for scalpers, day traders and swing traders alike. It’s possible to use leverage and take advantage of the attractive trading costs practiced by XFortunes. Execution is also solid, mainly because the broker relies on a lightweight browser platform. WebTrader grants access to the full asset list from any device you want to use.

Account Benefits

Whatever your trading needs are, XFortunes provides multiple account types (Basic, Bronze, Silver, Gold, Platinum, Elite and Black) aiming to suit you in the most optimal manner. This seems to be a highly supportive broker, considering the abundance of trading tools and educational features available.

Customers can access an economic calendar, webinar recording and education center, or get personalized guidance from an account manager. As we move towards larger accounts, the list of benefits increases, but you’ll also have to consider the larger deposit requirements.

Setting up a live account is simple and the broker details all of the steps you need to complete before you can begin trading the markets. If you want to know more about account funding, then rest assured because several payment systems are currently available with XFortunes and you can find all of the information on the broker’s website.

Support

Speaking of customer support, the broker engages with users via live chat, email and phone. Moreover, registered clients (starting with the Bronze account and higher) benefit from personalized guidance offered by the account manager.

Adding to that, XFortunes actively provides daily market reviews, videos and price alerts, looking to support traders when they need to make difficult decisions. Markets continue to be very unpredictable and in such an environment, beginners are the most vulnerable.

Conclusion

XFortunes manages to exceed expectations and provides competitive trading terms. You have access to a comprehensive list of CFDs and no trading commissions. There’s a user-friendly platform at hand and several other tools you can use to make better decisions.

From our point of view, these are just some of the features making XFortunes a suitable broker. If you want to find out more about it, check the website or see what other reviews on the web suggest about XFortunes.

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Former SPAC CFO Facing 3-year Imprisonment for Money Embezzlement

On April 27, the United States Department of Justice (DoJ) issued a press release revealing the court decision on the former chief financial officer of the African Gold Acquisition Corporation (AGAC) Cooper Morgenthau case. The report stated Morgenthau would be placed behind bars for three years for engaging in $5 million money embezzlement.

From June 2021 to August 2022, Morgenthau engaged in unethical business practices involving embezzlement of money. The prosecutor at DoJ noted that Morgenthau accumulated more than $5 million from Strategic purpose acquisition company (SPAC) core businesses, including AGAC and Strategic Metals Acquisition Corporation (SMAC).

Reviewing Morgenthau Money Embezzlement Plot

According to the press release, Morgenthau was accused of rerouting business money to venture into crypto assets, which was futile. It was observed that Morgenthau misused his power to withdraw $1.2 million from the African Gold platform for personal use.

After acquiring a measurable amount of money, Morgenthau invested in buying and selling crypto assets, including meme-themed stocks. Morgenthau’s investment was made at the wrong time when the aggressive bears resurfaced in the crypto market.

As a result, Morgenthau lamented losing all his financial resources from the scheme. The vast losses prompted Morgenthau to forge accounting reports submitted to the African Gold internal auditors.

Furthermore, Morgenthau was accused of deceiving private investors about establishing a new SPAC. The deceptive approach applied by Morgenthau managed to raise  $4.7 million in capital for the fraudulent project.

Morgenthau Facing SEC Charges

Morgenthau, who had vast experience in finance and accounting, leveraged his expertise to ensure the financial reports were well-balanced. It was reported that the $4.7 million was recorded on the African Gold statement to cover for the previous losses he made on crypto.

Morgenthau’s fake SPAC coincided with SMAC action to engage private investors to raise money to support the initial public offering (IPO) launch.

In August 2022, the African Gold auditors identified accounting errors in the Morgenthau financial report. After engaging Morgenthau, the African Gold team failed to reach a concrete solution.

Based on the Morgenthau employment contract, it was observed that his conduct was against the African Gold core values and statutory requirements. After further consultation concerning Morgenthau, the African Gold agreed to dismiss him from work.

Also, African Gold reported the matter to the U.S. Securities and Exchange Commission for further legal action. On January 3, Morgenthau appeared before a court in Florida, where he pleaded guilty for engaging in wire fraud.

In the light of Morgenthau court proceedings, the prosecutors ordered the ex-CFO to be sentenced to 3 years. Morgenthau was instructed to settle forfeit and restitute penalties of $10.2 million.

Reflecting on the April 27 court decision, U.S. Attorney General Damian Williams confirmed to the SPAC community that Morgenthau’s misconduct was punishable. He reiterated that the regulators will take legal action for any fraudulent activity.

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FBI Officials Searches Former FTX Executive Ryan Salame Home

An April 27 announcement captured by reporters from The New York Times revealed that the Federal Bureau of Investigation (FBI) launched an investigation to search the home of former FTX executive Ryan Salame. Residing from Potomac, Maryland, the FBI officials raided Samale’s $4 million house in the morning hours.

The FBI home search aims at gathering supporting evidence concerning the fallout of the Bahamian crypto exchange FTX. In his previous role, Salame provided advisory services to the troubled FTX chief executive Sam Bankman Fried.

FBI Raiding Salame’s Home

Salame was also a co-chief executive of the FTX digital markets undertaking the significant roles of managing and supervising the firm. Before exiting the crypto exchange, Salame facilitated suspicious loaning services and payments to crypto firms through Alameda Research.

Reviewing the FTX court findings, it was evident that Salame facilitated the donation of $24 million to support the previous elections. During the Salame regime, it was reported that he collaborated with the FTX top executive to fund political campaigns.

Salame and his colleagues donated  $90 million to support George Santo in the race for a congressional position in 2022. The probing team observed that most of FTX’s contributions to political campaigns were withdrawn from FTX customers assets.

A scrutiny of Salame’s career background compelled the prosecutors probing the FTX saga to express doubt about his 2021 appointment. They concluded that the Bankman Fried recruitment criteria aimed at selecting candidates who would support his preferred 2022 political candidate. 

In a 2022  interview dubbed PR Tour, Bankman Fried stated that FTX political donations supported candidates from the two rival parties. He labeled the donations made to the Republican candidates as “dark.”

FTX Political Campaigns Donations

Bankman Fried argued that the approach FTX utilized to support political campaigns aimed at baring further questioning from the public.

Besides the political donations, the FBI officials questioned a remittance made by Alameda Research to Salame and another executive. It was reported that Salame received $87 million from the FTX affiliate company.

Additionally, Bankman Fried received $2.2 million, while Nishad Singh, the ex-engineering manager, received $587 million. Zixiao “Gary” Wang, the FTX co-founder, was compensated $246 million. 

The multiple transactions made to the FTX executives created mixed thoughts among the prosecutors. Following the FTX bankruptcy filing, the court-appointed a new management team tasked to scrutinize the previous operation of the embattled crypto exchange.

John Ray III, an attorney at the Bankruptcy Court, announced plans to probe the transfer made by FTX to executives. In his brief announcement, Ray III vowed to seek potential enforcement action against the FTX officials and other firms engaged in suspicious transactions.

Ray III’s proposal aimed at supporting the crypto exchange to identify and recover the lost customer’s assets. Recently, Ray led the FTX’s new management to claim the money donated during the political campaigns.

On February 5, it was reported that FTX preferred political parties to receive messages demanding for refunds to be completed before last month. Ray anticipated that the money recovered from the political parties would be utilized to settle FTX creditors’ debts.

From the abovementioned compensations and bonuses, the law enforcers were convinced that FTX misused customers assets. In a previous Wall Street Journal report, Salame hinted to the Bahamian regulators about the suspicious strategies the FTX officials utilized to maintain the operations of Alameda. 

In the November 9 meeting with the Bahamas Securities Commission, Salame reported that the FTX official was transferring substantial money to Alameda. He argued that the transfers were only made by Bankman Fried, Singh, and Wang.

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Bittrex CEO Says SEC “Mistaken”, to Fight Charges in Court

The CEO of Bittrex Global, Oliver Linch has declared the company’s intention to fight charges filed against it by the securities and exchange commission (SEC) in court. Linch said the SEC was “mistaken” in charging the exchange with security laws violations.

Bittrex is the latest crypto ccompany that the SEC has sued in the recent crackdown on the industry in the U.S. The SEC’s charges came shortly after the exchange announced that it was moving out of the country. Like many other crypto firms, Bittrex’s decision to move out of the U.S could have been driven by the hostile regulatory climate in the country.

“Bittrex was an entirely separate legal entity and only provided services in the U.S. and only served U.S. customers. And they’re the ones that have had to shut down their operations… Global continues on providing the services to rest-of-world clients as it ever has,” Linch said.

Alleged Illegal Operation of Unregistered Exchange

The chairman of the SEC Gary Gensler recently said that all cryptocurrencies except Bitcoin are securities. This makes any exchange that allows trading of crypto tokens a security exchange, and must be registered and regulated as such, according to Gensler.

It is on this basis that the SEC alleges that the company illegally ran an unregistered securties exchange. Linch however believes this was a mistake and that the company will fiercely fight the allegation which involves Bittrex, its former CEO, and Bittrex Global.

While Bittrex and its former CEO Bill Shihara are charged with not registering the exchange in the U.S, Bittrex Global is charged with not registering as a national securities exchange since it shared its order book with Bittrex in the U.S.

To this, Linch said “We think that they’re mistaken in the way they conceive of it legally and in terms of facts.”

Details of the suit show that the SEC is suing Bittrex for generating $1.3 billion in revenue from trading fees between 2017 and 2022 without registering as a securities exchange. It also alleges connivance between the former CEO and token issuers to shield them from the regulators.

The SEC Facing Legal Battles

The SEC is starting to face legal battles as the crypto space is now fighting back the harsh regulatory approach it is dishing out. Just yesterday 25 April, Coinbase filed a lawsuit against the commission demanding that it provides clear regulations for the industry.

Coinbase’s lawsuit may have contributed towards Bittrex taking the bold step to also challenge the SEC’s allegations in court. One of two things is likely to happen in this scenario. Either the SEC loses and brings regulatory clarity for the industry, or it wins and crypto dies in the U.S as companies exit the country one after another.

As it is, Coinbase is already considering the idea of relocating, and there are jurisdictions that are making their environments more welcoming for crypto companies. Australia and Hong Kong are examples of such jurisdictions that are creating regulations that will foster the growth of the crypto industry.

The UK is the latest, and is different in its own approach. The FCA is calling on crypto firms to collaborate and come up with a regulatory framework that is mutually beneficial. If crypto loses in the U.S, it won’t be long before these crypto giants move to crypto havens like the UK.

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Sam-Bankman Fried’s Prefered Video Game Winding Down, Cites Fallout of FTX

An official announcement from Good Luck Games, the developers of video games, including the famous Storybook Brawl (SBB) has announced plans to sunset its operation. The April 25 announcement revealed that the Bahamian crypto exchange FTX’s departure from the digital space negatively affected the performance of the gaming company.

The developers of the Storybook Brawl admitted that their efforts to pursue new ways to support the firm operation had yielded no positive outcome. From the developer’s statement, the video game company was acquired by FTX in 2022.

Factors Influencing the Closure of Storybook Brawl

A review of FTX and Good Luck Games mergers and acquisition report demonstrated that the bankrupt crypto exchange supported the operation of the Web3 gaming company. Following the fallout of FTX, the gaming company has been seeking promising opportunities to support the firm to remain afloat.

In an April 25 tweet, the company confirmed that Good Lucks Games would be seizing from operation on May 1. The gaming company has urged the players of the exclusive card game to take advantage of the remaining days before the closure of the SBB servers.

Following the April 25 tweet, market critics debated that the studio’s closure demonstrated that the gaming company was at the edge of liquidation. Citing the ongoing legal action against FTX, they argued that the now-defunct crypto exchange could not support the video games.

At the initial M&A agreement, the FTX US agreed to offer technical and financial support to SBB through the FTX gaming arm. However, the current bankruptcy proceedings battling FTX have prompted the company to withdraw its consent.

It was reported that after the crypto exchange filed for Chapter 11 of Bankruptcy protection, the operation of Storybook Brawl went south. Last November, the SBB developers failed to participate in the World Championship event in the Bahamas due to challenges the parent company faced.

Storybook Brawl Acquired by FTX

In a previous interview with The New York Times, FTX co-founder Sam Bankman Fried confessed that the creative card battling feature on the SBB assisted him in unwinding. He stated that the SBB features outmatched the Hearthstone game created by the Activision Blizzard team.

During his November arrest, Bankman Fried attest that he played competitive card battling games during his productive hours. Besides SBB being among the best video games for Bankman Fried, the Web3 community has supported the game from the first day it went live.

It was noted that after the launch of the SBB, more than 2770 users subscribed to the video game platform in September 2021. These numbers began to decrease after the closure of the M&A deal with FTX.

In a separate report, the acquisition of SBB by FTX created heated dialogues among the gaming community. Most of the SBB players were negative about the acquisition due to legal action facing the crypto exchange.

They protested over the “non-cosmetic” approaches adopted by the SBB developers in the attempt to launch the nonfungible tokens (NFTs) features on the gaming platform. The 2022 acquisition compelled most of the players to exit the SBB platform.

In February 2022, the number of SBB players decreased by 59%. It was reported that the number of players in February averaged around 817. After the acquisition, the number plummeted to 331 players.

Since the SBB has attempted to restore its 2021 market position, it has proven futile. The SBB’s current announcement dooms Bankman Fried’s long-term objectives for the card battling game. In the acquisition report, Bankman Fried was optimistic that SBB would be the first “ethical “Web3 game.

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Coinbase Drags SEC to Court Over Lack of Regulatory Clarity

Top crypto exchange Coinbase has filed a suit asking the securities and exchange commission (SEC) in the United States to answer questions on regulatory guidelines for the crypto industry. This comes after the SEC sent a Wells notice to the exchange threatening sanctions.

The lawsuit is seeking the court to compel the SEC to give a “yes or no” answer to a petition it submitted last July, seeking regulatory clarity for crypto. The petition earlier submitted demanded that the SEC comes up with clear-cut rules to guide the industry.

In a blog post earlier today, Coinbase’s chief legal officer Paul Grewal said there are more than 1,700 other entities supporting Coinbase’s position on regulations for the crypto space. Specifically, they are asking the SEC to reveal clearly how it decides which crypto token is a security and which is not.

“It’s important for the SEC and any other agency petitioned for rulemaking to respond to the petition once the agency has made up its mind, especially if the answer is no – otherwise the public can never exercise its right to ask a court if the agency’s decision was proper,” Grewal wrote.

The lawsuit is coming following the refusal of the SEC to obey the Administrative Procedure Act which requires the commission to respond to the exchange’s rulemaking petition “within a reasonable time.”

“If the SEC says no to our rulemaking petition, which it has the right to do, then Coinbase would be allowed to challenge that decision in court and explain in that formal setting why rulemaking is required,” he added.

The SEC’s Crackdown on Crypto

Regulators in the U.S, particularly the SEC has clamped down heavily on crypto companies in the U.S, making the environment hostile for crypto businesses. This is in spite of lack of regulations guiding the industry.

Up to this moment, the SEC led by Gary Gensler decides abitrarily what crypto token is a security and which is not, without providing any guidelines on how this is determined. To this end, Coinbase is seeking an answer since the commission is seeking to sanction it for no clear reasons.

Grewal further said “Regulatory clarity is overdue for our industry, yet Coinbase and other crypto companies are facing potential regulatory enforcement actions from the SEC, even though we have not been told how the SEC believes the law applies to our business.”

“The rulemaking process is a critical step to giving the public notice about what activities they can and cannot engage in. So until the crypto industry gets that clarity, we will continue to take every step available to us to seek it, which includes today’s filing,” he concluded.

Coinbase May Dump the U.S

The actions against crypto companies in the U.S with no rules has caused many of them to leave the country. Coinbase may not be left behind in this. The exchange’s CEO Brian Garlinghouse recently mentioned that the exchange was open to the idea of relocating from the U.S if the country did not reconsider its stance on crypto.

Bittrex, one of the olderst crypto exchanges in U.S also announced recently that it was moving out of the country, after which the SEC charged it with operating an unregistered securities trading platform. By Gensler’s definition, any crypto exchange that trades anything other than Bitcoin is a securities exchange and should be registered and regulated as such.

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ARB Market Bears in Control as Price Drops: Traders Beware of Potential Trend Reversal

Key Insights:

• ARB market fell 7.5% to $1.34, with bears in control, despite a trading volume increase of 11.03% to $679,552,409.
• Fisher Transform rating of -2.18 indicates increasing selling pressure, suggesting traders hold off on long positions.
• Keltner Channel and Bollinger Bands heading south on ARB 4-hour price chart indicate a potential further drop in price to test lower support level.

In the past 24 hours, the ARB market experienced a steep decline, and attempts to rebound were unsuccessful due to strong resistance at $1.45. The bears managed to lower ARB’s value from its peak to a low of $1.30, where it stabilized.

$ARB shitting itself will let you know when I start rebuying https://t.co/KioWpE2Ojh

— Mac (@MacnBTC) April 23, 2023

At the time of writing, the ARB market remained under bearish control, causing the value to drop to $1.33, indicating an 8.05% decline from the previous closing price.

Despite a surge of 59.24% in ARB’s 24-hour trading volume, the company’s market capitalization plummeted by 7.91% to $1,694,899,348. This contradictory situation indicates a mixed reaction among investors, with some buying more tokens while others selling them, leading to a rise in trading volume but a fall in market value.

ARB/USD 24-hour price chart (Source: CoinMarketCap)

The ARB market is facing increased selling pressure with a Fisher Transform rating of -2.18, indicating the possibility of further price reduction. As a result, traders may consider going short or delaying long positions until a potential trend reversal.

On the ARB 4-hour price chart, the Keltner Channel bands are heading south, with the top bar at 7.67 and the bottom at 7.62. This behavior suggests that the ARB price could decrease and test the lower support level.

The price action on the ARB 4-hour chart further reinforces this view, with red candlesticks forming towards the bottom band. A reversal or comeback could be possible if the price movement continues in this direction and breaks below the lower band, indicating an oversold market.

ARB/USD 4-hour price chart (Source: Tradingview)

The current Bull Bear Power (BBP) of -0.00 in the market suggests a strong negative momentum, which could lead to further drops if crucial support levels are broken. Conversely, if the ROC rating improves and shifts to positive territory, it may indicate a change in the trend and potential buying opportunities for traders.

The ARB 4-hour price chart shows a southward movement of the Bollinger bands, with the top bar at 7.67 and the bottom bar at 7.64. This indicates a declining asset value trend, with the lower Bollinger band level at 7.64 potentially serving as a support level. If this level is breached, traders might consider selling or shorting the asset.

ARB/USD 4-hour price chart (Source: Tradingview)

Conclusion

The ARB market is in a negative trend, with selling pressure mounting. If the lower support level, around $7.64, is broken, traders should look for a possible reversal.

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Dogecoin’s Decentralized Nature May Protect It From SEC Scrutiny, Board Member Says

Key Insights: 

• Dogecoin’s similarities with Bitcoin could make it difficult for the SEC to regulate as a security.
• The Dogecoin Foundation board member believes the cryptocurrency could break into the top three.
• The regulatory landscape around cryptocurrencies is constantly evolving, making it difficult to predict future actions by the SEC.

During the celebration of the 4/20 Dogecoin [DOGE] Day, Fox Business interviewed with Marshall Hyner, a board member of the Dogecoin Foundation who has been associated with the organization since 2013. Hyner claimed that the U.S. Securities and Exchange Commission (SEC) could not target the meme-inspired cryptocurrency, Dogecoin.

DOGE’s similarity to BTC circumvents SEC

In his explanation, he highlighted that Dogecoin (DOGE) shares similarities with Bitcoin (BTC), making it ineligible for security classification. Additionally, he noted that DOGE’s community-driven nature and decentralized structure might have aided in avoiding the regulatory jurisdiction of the U.S. Securities and Exchange Commission (SEC).

Hyner expressed his dissatisfaction with the U.S. regulator’s enforcement approach and called for the SEC to establish policies to facilitate oversight and ensure the survival of cryptocurrency projects. He added that although some groups may build centralized companies, this should not indicate that a cryptocurrency is not decentralized.

There has yet to be an official statement from the SEC about Dogecoin, and whether the regulatory agency will undertake any measures against the cryptocurrency remains to be seen.

It is worth noting that the SEC has predominantly directed its regulatory efforts towards initial coin offerings (ICOs) and cryptocurrencies categorized as securities. Conversely, Dogecoin was not introduced via an ICO nor advertised as an investment prospect.

For those who may not be familiar, an ICO is a type of fundraising event where a new cryptocurrency or token is sold to investors with the expectation that the asset’s value will increase.

DOGE’s unexpected path to success

According to Hyner, the development team didn’t expect DOGE to rank among the top 10 cryptocurrencies by market capitalization. However, he is now optimistic that DOGE has the potential to break into the top three due to the unstoppable power of the meme.

The current market cap for Dogecoin is $10.98 billion, which marks an 11.89% decrease from the previous press time. Achieving a top-three rank would be challenging, given the significant gap between the eighth-ranked cryptocurrency and Tether, which holds the third spot.

The drop in prices and decreasing circulation of the coin were reflected in its recent performance. However, the social dominance of DOGE has experienced a contrary trend since 4/20, as evidenced by a 4.87% increase in the metric that measures social discussions about the asset at the time of writing.

As a result, the celebration of Dogecoin Day sparked numerous discussions regarding the cryptocurrency. Despite being a well-known supporter of Dogecoin, the CEO of Twitter, Elon Musk, did not actively promote the meme on the specific date, as his attention was directed towards the Starship launch.

One must remember that digital currencies’ regulatory environment is in continuous flux, making it challenging to anticipate how regulatory bodies like the SEC will handle cryptocurrencies such as Dogecoin going forward.

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Ocean FX Review – Is OceanFX Scam or a Legit Crypto Broker? (oceanfx.io)

Ocean FX Review

OceanFX.io is a broker that allows users to trade in cryptocurrencies, Forex, CFDs, and other financial instruments. The company provides a variety of tools and resources to help users make informed decisions about their trading. This Ocean FX review will tell you what the broker is good for.

The OceanFX.io trading broker provides a suite of services that allow traders to access global markets. These include order management, market data, and real-time order execution. With its sophisticated trading platform and institutional-grade security, the company has become a trusted provider of services for those looking to enter or grow their investment portfolio.

The broker offers a wide range of features and tools for both novice and experienced crypto traders, and the customer support is top-notch.

Overall, OceanFX.io is a great choice for those who are looking for a comprehensive and trusted provider of trading services. Let’s take a look at some of the unique features that make the OceanFX broker a top choice for traders.

Top-notch trading technologies

The OceanFX.io broker firm is a leading provider of trading services using innovative trading technologies. With its expert staff and state-of-the-art trading platforms and knowledge, you’ll be able to make confident and profitable trades every time.

Trading instruments

The Ocean FX trading company offers a variety of trading products, including cryptocurrencies, forex, CFDs, and commodities. These products can be used to make trades in a variety of markets around the world. The Ocean FX broker company also offers a variety of trading tools, including live streaming and charting, that make trading easier, as well as educational materials to help investors learn about these products and how to use them best.

Comprehensive trading plan

OceanFX has a trading plan that is designed to help you make profitable trades and grow your portfolio over time. Its systems are designed to minimize the risk of losing money, and a team of experienced traders is available to help you achieve your financial goals.

24/7 Customer support service

OceanFX provides comprehensive customer support, and the customer support team is available 24/7 through multiple channels such as phone, email, live chat, and social media platforms to provide knowledge of the broker’s services, products, policies, and regulations to the customers.

This means customers are able to get in touch with the broker easily and quickly if they have any questions, concerns or issues that need to be addressed. Further, the OceanFX trading firm is constantly keeping tabs on what its clients want, making sure that its products and services meet the needs of everyone involved.

Risk-free trades

OceanFX broker offers traders risk-free access to its markets, which means that you can trade with complete confidence. Its advanced trading tools and experienced staff will help you make the most of your trading opportunities. This means that investors can trade without any risk of losing money.

Tools for technical analysis

OceanFX is a broker that offers essential technical analysis tools, news, and events to help traders make informed decisions. The company’s events calendar and newsfeed provide timely information on current market conditions and important news stories. This information is valuable for helping investors understand what is happening in the markets and how it may impact their investments.

Is OceanFX scam or not?

Is Ocean FX Scam or legitimate? Here is the answer you are looking for. Based on the analysis of their services and their compliance with industry standards, OceanFX is considered to be a legitimate broker with a strong reputation for providing quality services.

OceanFX has been in business for quite a while now and has a strong track record of providing quality services to its clients, and it always works hard to ensure that its products and services are the best possible options available. OceanFX’s financial stability and customer service are all in compliance with applicable regulations.

Final Words

The OceanFX broker is one of the most reputable and reliable options available on the market. It offers a wide range of trading options, as well as a user-friendly platform that is easy to navigate.

Additionally, the broker has a strong reputation for providing top-tier customer service. Overall, OceanFX.io is a great option for anyone looking to invest in the financial market.

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Currency Arena FX Review – Is currencyarenafx.com Scam or a Legit Crypto Broker?

Currency Arena FX Review

When you step into the investment domain, you have a hard time knowing which asset classes are worth your time and which ones aren’t. From forex and stocks to commodities and crypto trading, there are many to choose from. That’s why it helps to get assistance from a platform that manages things for you.

However, with the proliferation of trading platforms these days, it’s not easy to know which one’s safe to use. A popular option these days is the CurrencyArenaFX broker, which has numerous users thanks to its impeccable features. That’s why I decided to try it out. In this Currency Arena FX review, I’ll discuss some of the top aspects of the platform. 

SSL Encryption to Preserve User Data

Nowadays, it’s pretty common to hear about how cybercriminals attempted to steal data from one website or another. Because of this, there’s a growing need to make sure that investment platforms, including trading platforms, keep users’ data safe and sound. In the case of Currencyarenafx.com broker, I saw that the site employs an SSL encryption protocol. It’s an advanced encryption mechanism that makes a users’ data unreadable to hackers.

When you send any data to the platform, it travels from your server to the website. So when the data is in transit, it’s susceptible to theft. CurrencyArenaFX trading platform prevents this by happening by encrypting the data, so even if it’s intercepted, it’s unreadable. Plus, I noticed that the service only asked me to fill out necessary details while signing up.

KYC and AML Policies for Safe Trading Environment

When trading platforms first started cropping up, many criminals and fraudsters started using them as a way to launder their money and commit identity theft. To prevent this from happening on the Currency Arena FX broker platform, the service is designed so each new user has to verify their identity first.

This way, they can prove that they’re who they claim to be. Moreover, the platform ensures that the person making the account isn’t making it under a false identity or someone else’s identity. Moreover, by following anti-money laundering policies, the platform is able to prevent criminals from using the service as a way to launder money.

Segregated Accounts and Small Deposits

Many new traders have concerns about whether the deposits in their online trading accounts will stay safe. It’s a major deciding factor in whether or not they use the service. When testing out the Currencyarenafx.com trading platform, I thoroughly researched the service to understand its rules. It turns out that they have segregated accounts to hold user funds.

This means your money is kept separately from funds used to run operations on the platform. The reason for this is that it ensures that users will get back their money in the event of unforeseen circumstances. Since the money in a segregated account is held in trust, it can’t be used for anything else. Rather, those funds belong to the users and can be taken back, even if the platform stops operating. 

Is Currency Arena FX Scam or Legit?

Over the course of my Currency Arena FX review, I saw plenty of examples that prove how the Currency Arena FX trading platform is a reliable one that ensures users’ security.  I realized this upon seeing how there’s a Know Your Customer requirement, based on which it verifies the identity of each new user. Hence, I definitely understood that the platform is legit.

Bottom Line

To sum up everything I’ve mentioned in the Currency Arena FX review so far: it’s a reliable service that you can use to manage your trades and keep up with the market. For one, it employs SSL encryption protocol, which is a way to make sure that hackers don’t intercept user data.

Then, it has Know Your Customer and Anti-Money Laundering laws in place to create a safe online trading environment. And finally, it has segregated accounts to keep my money safe. All things considered, I’d recommend this trading platform for experienced individuals and beginners.

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LEO Market Analysis: Bullish Momentum, But Traders Should Wait for Stronger Signals

Key Insights: 

• The LEO market indicates a positive attitude with rising asset demand and increasing trading volume.
• Traders should wait for a stronger bullish signal before starting a long position in LEO.
• Bearish reversal signals indicate the current rally in LEO is losing strength, and traders should consider taking profits.

The UNUS SED LEO (LEO) market started with a struggle between bulls and bears for control, with prices oscillating between a high of $3.58 and a low of $3.45 during the first trading session day. 

For LEO holders, this 24-hour high, and therefore the new 30-day high, was a promising omen, signifying a possible upward trend in the market. At the time of this writing, the price of LEO was $3.51, representing an increase of 1.27% from the previous day’s closing price.

Market capitalisation and 24-hour trading volume grew during the upswing, reaching $3,268,987,705 and $849,636, respectively. This was a 0.7% and 34.55% gain, respectively. This spike suggests that there is growing demand for assets and that investors are willing to pay greater prices, suggesting an optimistic attitude in the market.

LEO/USD 24-hour price chart (source: CoinMarketCap)

The fact that the actual average range for the LEO market is 0.0382 suggests that the bullish momentum in the market could be stronger, and the fact that price movement is not particularly erratic shows that the market is rather stable. 

As a result of this movement, traders should wait for a more powerful bullish signal before beginning a long position because the current market conditions may not give a significant possibility for profit.

A Know Sure Thing level of 20.4498 indicates that the bull’s strength is rather weak, which suggests that buyers may not have sufficient impetus to boost the price soon. This KSI level supports the sell” signal, indicating that traders may consider taking profits or delaying purchases until a more favourable entry point presents itself.

LEO/USD chart (source: TradingView)

A rating of 58.16 on the Relative Strength Index and movement below that indicator’s signal line show that LEO bullishness is now at a minimum level, indicating that investors who desire to enter the market may have a chance to make a purchase. 

If the Relative Strength Index (RSI) passes over the signal line, this may suggest a greater upward trend and that it is time to consider growing one’s position in LEO.

This bearish reversal signal has a TRIX value of 6.05, showing that the current LEO surge is losing momentum. Traders should consider taking profits or tightening stop-loss orders in order to protect their gains and consider either taking profits or tightening stop-loss orders.

LEO/USD chart (source: TradingView)

Conclusion

Although there are indications that bullish momentum is building in the LEO market, traders should wait for more precise signals before entering long positions. It is essential to keep an eye on market trends and indicators to make informed decisions. Additionally, traders should consider setting stop-loss orders to minimise potential losses.

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Chainlink Price Analysis: TD Sequential Presents Sell Signal as Bears Gain Control

Key Insights:

• Chainlink experiences bearish market sentiment and hits a target price of $7.60, with the potential for further drops.
• The bears are in control, with resistance at $7.95 and support at $7.49.
• Technical indicators suggest caution for investors as selling pressure may increase.

Chainlink’s daily chart showed a sell signal on TD Sequential, suggesting a potential correction. Failure to close above $8.80 could lead to a drop to $8.10. To maintain its upward trend, Chainlink must surpass the resistance at $8.80 and reverse the bearish pattern.

LINK/USD 1-day chart, Source: Ali_charts

TD Sequential detected a sell signal on the daily chart of $LINK, achieving the $7.60 target price. Investors should monitor their holdings as Chainlink’s price movement is uncertain. The market awaits to see whether the sell signal will cause a further decline or a rebound.

LINK/USD 1-day chart, Source: Ali_charts

Chainlink Price Analysis

The analysis of Chainlink’s price indicates a bearish outlook, as the value of LINK has reached the target price of $7.60 and subsequently fallen below it due to the detection of a sell signal on the TD Sequential. The downward trend has been attributed to the growing dominance of bears, resulting in a decline of the LINK/USD price from $8.80 to its current level.

LINK/USD daily chart, Source: CoinMarket Cap

The current trading price of LINK/USD is positioned between the support level of $7.49 and the resistance level of $7.95, with the bulls requiring a break above the resistance level to regain control and initiate an upward trend.

Investors and traders should exercise caution due to the ongoing dominance of the bears, which could cause further depreciation in the LINK/USD valuation. It is worth noting that Chainlink has breached its lower target price of $7.60 on TD Sequential, signifying an increase in selling pressure if the bears maintain their hold on the market.

On the daily chart, Chainlink demonstrates a downward trading pattern, with LINK/USD experiencing a 4.56% decrease in the past 24 hours, dropping from its intraday high of $7.95 to a current price of $7.47. The market cap has also declined to $3,860,009,215, and the 24-hour trading volume stands at $382,919,745, indicating a bearish market sentiment.

Technical indicators on the daily chart reveal a bearish trend, with the 50-day moving average crossing over the 200-day moving average. Therefore, waiting for a bullish reversal before entering a long position is advisable. The MACD is also in the negative territory, with its histogram displaying red bars, signaling a potential downside potential for LINK/USD.

LINK/USD 1-day chart, Source: TradingView

Moreover, the Relative Strength Index (RSI) has fallen below 50, indicating a possible bearish trend in the oversold region. The RSI value currently stands at 48.33, adding to the bearish outlook.

Conclusion

To summarize, Chainlink’s value exceeded its projected target of $7.60 after TD Sequential detected a sell signal on the daily chart of LINK/USD. The current trading price for Chainlink is $7.46, and the bears are gaining the upper hand, as shown by the technical indicators on the daily chart. It is recommended that investors remain cautious, as there is a likelihood of further downside potential if the bears continue to control the market and drive the price downwards.

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Binance.US Takes Major Step in Voyager Digital Acquisition Despite Regulatory Hurdles

Key Insights:

• Binance.US has made significant progress in acquiring bankrupt crypto lender Voyager Digital after facing several regulatory hurdles.
• The agreement between the Uncensored Creditors Committee (UCC) and the U.S. government is a significant milestone in the acquisition process.
• The acquisition is pending clearance by the District Court, and Voyager Digital and the UCC are working with Binance.US to move forward as quickly as possible.

A noteworthy advancement has occurred as Binance.US, a cryptocurrency exchange, has made progress towards acquiring Voyager Digital, a crypto lending company that has declared bankruptcy. This progress comes after a series of regulatory obstacles that lasted for several months.

On April 19, Voyager announced that an agreement had been reached between the Uncensored Creditors Committee (UCC) and the U.S. government, allowing Binance.US to acquire Voyager.

3/ Voyager and the UCC are working with https://t.co/5sjac1H4CW to move forward as quickly as possible once this stipulation is approved by the District Court.

— Voyager Official Committee of Unsecured Creditors (@VoyagerUCC) April 19, 2023

In recent times, procurement has encountered multiple obstacles from regulators, leading to a state of unpredictability regarding the fate of the transaction.

The District Court’s approval of the planned purchase by Binance.US is still necessary, but it will move through as per the deal recently made between the UCC and the U.S. government.

According to reports, it has been stated that the government has agreed to allow the plan to proceed without such provisions, and it will not be subject to the stay. It has also been reported that Voyager and the UCC are collaborating with Binance.US to move forward as quickly as possible once the District Court approves this stipulation.

Voyager Digital’s ambitious acquisition plans face regulatory obstacles

In the middle of 2022, Voyager Digital declared bankruptcy, attributing it to unfavorable market circumstances. To salvage the lending firm, a multitude of organizations suggested diverse approaches.

In January of 2023, Binance.US was granted permission by the court to buy certain of Voyager’s assets. Despite this, the Securities and Exchange Commission (SEC) has voiced concerns about the legitimacy and fairness of the $1 billion transaction.

Despite the challenge faced, Voyager Digital managed to obtain the green light from Bankruptcy Judge Michael Wiles to vend assets worth $1 billion to Binance.US. However, the bankruptcy court’s decision didn’t sit well with the U.S. Department of Justice (DoJ), which lodged an appeal against the ruling on March 19.

U.S. Government Objects: Binance’s Big Bid

In March, a judge overseeing a bankruptcy case approved for Binance to move forward with its bid to acquire Voyager Digital’s assets worth $1 billion. Despite opposition from the U.S. government, the court permitted the acquisition. The Department of Justice (DoJ) expressed its disagreement, alleging that the court had overstepped its bounds, and requested a delay of two weeks to appeal the decision.

Following a series of regulatory challenges, Binance.US has made a substantial stride in its bid to acquire the defunct cryptocurrency lending platform Voyager Digital. This positive development comes from an agreement between the UCC and the U.S. government, signifying a significant milestone in the ongoing acquisition process.

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Cardano’s DeFi TVL Triples in Q1 2023, As Stablecoin Volume and ADA Price Surge

• Cardano’s Q1 2023 saw a 172 percent growth in DeFi TVL and a 261 percent increase in stablecoin volume.
• The platform’s treasury balance grew to 1.21B ADA and $460M in USD.
• While Cardano saw overall growth, it experienced declines in new addresses, daily transactions, and NFT transactions.

In the first quarter of 2023, Cardano’s TVL nearly tripled, and it made significant technological advances, according to a report by Messari, a crypto analytics company. There was a dramatic increase in the use of new stablecoins, improvements in network scalability, and VM compatibility on the PoS blockchain.

Cardano has reportedly adopted Layer-2 scaling solutions on its mainnet and is building sidechains like Milkomeda C1 and IOG’s EVM sidechain to improve cross-chain compatibility, as detailed in a recent study. The platform is also more accessible and user-friendly for programmers now that it supports Python, TypeScript, Marlowe, and Helios.

Cardano’s DeFi and stablecoin markets skyrocket

Cardano’s DeFi Total Value Locked (TVL) increased dramatically from Q4 2022’s $50.8M to Q1 2023’s $138.3M, a growth rate of 172 percent. There was also a 261% rise in the total amount of stablecoins traded on the platform, reaching $10 million, with Indigo’s IUSD and Djed’s DJED in the lead. The popularity of significant DEXs like Minswap, SundaeSwap, and WingRiders has fallen due to the proliferation of new protocols.

On April 18, 2023, one ADA token was worth $0.44, a 54 percent increase from the beginning of the year. In addition, with the acquisition of 100M ADA, the platform’s treasury balance has increased to 1.21M, a 9.1 percent increase in ADA terms, and a 66 percent increase in USD terms. Significant funds totaling $460M USD have been added to the Treasury’s accounts. This represents a $278M USD increase.

Despite overall growth, Cardano’s daily transactions and NFTs take a hit

Cardano’s average daily transactions increased by 10.6 percent despite the expansion, and the number of new addresses decreased by 71.5 percent quarter over quarter. The average daily volume of NFT transactions on the network declined by 27% in Q1 2018, while the average daily volume of unique buyers fell by 23%.

In addition, the Cardano Foundation has just released its first Annual Report, which details the project’s successes throughout 2022. According to the article, the Foundation has updated its delegation policy to persuade stake pool operators (SPOs) to provide the growing community with Cardano-building tools reliably. The Foundation has also said they have aligned the Cardano Improvement Proposals (CIPs) procedure with the best open-source practices.

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Efforts to #FireGaryGensler Gain Steam Amid Criticism of SEC’s Crypto Regulations

Key Insights:

• The #FireGaryGensler hashtag has gained traction on Twitter, with industry figures criticizing Gensler’s actions as the SEC Chair.
• U.S. Representative Warren Davidson plans to introduce legislation aimed at removing Gary Gensler from his position.
• The SEC’s move to redefine “exchange” has faced criticism from the crypto community, including SEC Commissioner Hester Peirce.

The hashtag “#FireGaryGensler” has received support from a number of prominent players in the sector, including Toney Edward, the creator of the Thinking Crypto Podcast. Edward has accused Gensler of targeting regulated and legal organizations while neglecting to take action against suspected fraudsters. The hashtag has been trending on Twitter.

Gary Gensler was accused by Toney Edward, the creator of the Thinking Crypto Podcast, of not taking action against suspected fraudsters while targeting genuine organizations. Edward pointed out that Gensler was unsuccessful in preventing frauds perpetrated by FTX and others but that the company is now targeting regulated firms attempting to behave ethically.

Removing Gensler: Proposed Legislation

U.S. Representative Warren Davidson announced on April 16 that he intends to introduce legislation with the purpose of removing Gary Gensler from his position as Chair of the Securities and Exchange Commission (SEC). This announcement came in response to comments by Coinbase’s legal chief Paul Grewal, who criticized the SEC’s attempts to broaden the definition of an “exchange.”

Yep. To correct a long series of abuses, I am introducing legislation that removes the Chairman of the Securities and Exchange Commission and replaces the role with an Executive Director that reports to the Board (where authority resides). Former Chairs of the SEC are ineligible. https://t.co/VBnkgt8bhM

— Warren Davidson (@WarrenDavidson) April 16, 2023

Davidson made the announcement on Twitter that he intends to file legislation to replace the post of SEC Chair with one held by an Executive Director who is accountable to the Board of Commissioners. He also claimed that the prior chairperson of the SEC would not be eligible for the new post, which is intended to rectify a history of abuses in the commission’s operations.

For decentralized finance platforms and other non-traditional exchanges, the possible repercussions of the SEC’s endeavor to redefine the word “exchange” might have a significant and far-reaching effect. This has further inspired Davidson to call for Gensler’s resignation and maybe a driving reason behind the #FireGaryGensler movement on Twitter. Davidson’s motivation comes from the fact that Gensler’s work has been widely criticized.

Gensler defends SEC’s proposed amendments

According to Gensler, the modifications to the regulations that have been suggested might enhance market conditions and safeguard investors. This would be accomplished by subjecting certain brokers to a higher level of regulatory monitoring and bringing the definition of an exchange into the current era. Despite this, these ideas have been met with pushback from the cryptocurrency community, many members of which think that the SEC is acting beyond its authority.

“Crypto Mom” Hester Peirce, a well-known advocate for cryptocurrencies, has been one of the most outspoken opponents of the amendments. On April 14, she stated that the SEC’s recent actions would encourage “stagnation, centralization, expatriation, and extinction” of the technology.

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IMF and DCMA Launch Universal Monetary Unit (UMU) CBDC for Cross-Border Transactions

Key Insights: 

• IMF and DCMA launched a CBDC called UMU to improve cross-border transactions.
• UMU uses SPOT protocol, AI-powered monetary policy framework, and global localization architecture.
• UMU aims to provide a solution for central banks while mitigating currency depreciation.

During the IMF Spring Meetings 2023, the Digital Currency Monetary Authority (DCMA) and the International Monetary Fund (IMF) unveiled the Universal Monetary Unit (UMU), commonly known as Unicoin, which is a central bank digital currency (CBDC) designed to strengthen monetary independence while complying with the IMF’s recent guidelines on cryptocurrency assets.

Cross-border transaction revolution

Tobias Adrian, currently serving as the Financial Counsellor at the IMF, believes that a multilateral platform is essential to improving cross-border transactions. He also believes that such a platform has the potential to revolutionize foreign exchange transactions, risk sharing, and financial contracting.

As stated by the DCMA, the Universal Monetary Unit (UMU) aims to provide a legally accepted currency commodity that can be traded in any settlement currency recognized by law. Represented by the ANSI character Ü, the UMU functions as a central bank digital currency, implementing banking regulations and safeguarding the financial soundness of the global banking system. Moreover, it allows the secure linking of SWIFT Codes and accounts to a digital wallet, easing real-time cross-border payments.

The Staked Proof of Trust (SPOT) Protocol, a multi-dimensional Distributed Ledger Technology (mDLT), and an Artificial Intelligence (AI)-driven central banking monetary policy framework are the technologies behind the operation of UMU. The DCMA labeled UMU “Crypto 2.0,” highlighting its enormous potential for widespread use in the global economy.

Envisioning IMF’s monetary solution

To provide central banks throughout the globe with the answer envisioned by the IMF, the UMU was designed by Darrell Hubbard, Executive Director of the DCMA and the currency’s primary architect. The UMU can operate in conformity with the central banking legislation of each member state because of its global localization public monetary system design.

George Walker, a Partner at Practus, LLP, observed that the International Monetary Fund (IMF) had not issued official support for the UMU; nevertheless, the IMF has not stated any complaints about the UMU’s foreign currency premium rates or its approach to monetary sovereignty.

Additionally, the UMU Model Law was developed in collaboration with several independent nations, and it suggests that the UMU should be deployed as an additional currency to hold value. This is to serve as a payment medium throughout the settlement period while also reducing the danger of seasonal and systemic depreciation of the local currency.

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WiiCrypto Review – What Are The Features Of Wii Crypto? (Is wiicrypto.com scam or not?)

WiiCrypto Review

WiiCrypto is an industry leader providing direct access to equities and foreign currency markets.

WiiCrypto has maintained its position as a market leader by delivering state-of-the-art marketplaces, account security, and multi-jurisdictional customer assistance, among other features, to its clientele.

If you read this WiiCrypto.com review, you will understand its outstanding customer service, cutting-edge technology, and narrow spreads.

Trading Instruments offered by the broker

Tradeview makes its trading products and trading instruments accessible by means of the well-known CFDs model. This model makes it possible to speculate on prices across a wide variety of markets without the need to possess the underlying assets.

Trading in major currency pairs, including EUR/GBP, USD/JPY, USD/CAD, and others, may be done around the clock. The advantages of the industry’s lowest spreads are yours to enjoy with WiiCrypto’s One-of-a-Kind Liquidity Connector.

Using one of Wii Crypto’s stock trading platforms, you may trade actual shares in individual companies such As Apple, Amazon, and Starbucks, or trade ETFs, the NASDAQ 100, and other exchanges.

WiiCrypto.com trading platform’s Contracts for Difference (CFDs) on Futures allow investors to trade on any of the major stock indices in addition to commodities such as petroleum and coffee. WiiCrypto provides access to some of the most important indexes in the world.

Bitcoin, Litecoin, and Ethereum may all be traded using their platform. Trading contracts for difference (CFDs) rather than holding the digital currencies themselves allows you to speculate on price changes in the underlying cryptocurrency.

Both Withdrawals and Deposits are Easy

Multiple options for making deposits and withdrawing funds are provided by various service providers, which satisfies the requirements of almost every client and is worldwide in scope. Hundreds of different payment methods are available, including Mastercard, Visa card, credit card, debit card, and bank transfer.

Trading Platforms

Many traders, both humans and automated, throughout the globe utilise a platform called MetaTrader. In addition, the MT4 and its most recent version, MT5, are both accessible on the platforms.

This is not only a fantastic feature, but the brokerage edition of MT5 also has upgraded systems, so the overall quality of these platforms has been increased. The platforms were developed to be compatible with Windows, macOS, the web, iOS, and Android devices.

Customer support

The customer service department is open around the clock. You may contact it using the website’s stated email address. They are prompt and attentive to your needs.

Security and safety of funds

When searching for a reliable broker, you need to make sure that you look into their security services. Because ensuring one’s safety is the trader’s first concern, an effective broker will always provide excellent security service.

A typical broker will additionally inquire as to the identification of the individual doing the trading. For traders to establish that they are adhering to the security requirements, they must present proof of their identity and location.

This indicates that each account will be examined in detail before being approved. You will usually be required to provide a passport or a nationality identification card if someone requests evidence of your nationality. When you are requested to provide proof of residence, you can either provide financial documents or a utility bill as evidence of your residency.

This broker offers its traders a high level of protection using SSL technology, which encrypts sensitive information such as traders’ data and financial holdings. Additionally, WiiCrypto complies with the AML and KYC policies.

Support for Educational Efforts

WiiCrypto provides you with all of the tools available you will want for your trading career to be successful. In addition to having the most competitive spreads, support, and technology in the market, they also provide the following three separate learning experiences:

Conclusion

This review aims to provide an overview of a broker that enables customers to participate in trading. To make it simple for customers of diverse experience levels to begin trading with WiiCrypto trading company, the broker developed several different accounts, each of which included a unique set of capabilities and required a distinct minimum initial deposit.

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A Guide To Spot Potential Crypto Scams

With the growing number of crypto scams going around these days, it’s become important that traders know how to spot them. Besides the common online dating scams that have become common, scammers are also impersonating important officials. This guide will walk you through the different types of scams and how you can avoid them.

Business and Government Impersonators

In job, government, or business impersonator scams, a person will lie about being someone trustworthy. This is to convince you into sending them money via a crypto transaction. In one type of scam, the person may impersonate a well-known company. For instance, the scammer may claim to be from a company such as FedEx, Microsoft, Amazon, or even your bank.

They may send you a message on your social media account, a text message, or an email. In fact, they may even call you or send a pop-up alert on your device. Some of the most common scripts in these types of scams is that your money is at risk of being stolen or that your account is susceptible to fraud.

So, if you end up calling back the number in a pop-up, answering a call, or clicking on the link in a message, it’s connected to the scammer.

Business That’s Offering Fraudulent Cryptocurrency

The representative who contacts you may say that their company is entering the cryptocurrency industry and is issuing their own token. There may be many signs that make it seem legitimate.

For example, you may notice a great website, news articles, testimonials, and even social media advertisements. However, all of these things are designed to convince people that it’s a legitimate and secure investment when it’s not.

Rather, these cryptocurrencies are a scam that steals money from the people buying them. While you’re seemingly investing in a cryptocurrency, it doesn’t hold any value and was simply a setup to trick you out of your money.

Before you end up purchasing any cryptocurrency, it’s important that you do your research on the company that has developed them. If it’s an actual company that you can reliably invest in, then it’s likely that established media outlets will have covered the release of the token.

Impersonating as Utility Companies or Law Enforcement

In some situations, the scammer may impersonate a utility company, law enforcement agency, or even a government agency. Often, they say that your account is under investigation or that it’s frozen and you won’t be able to receive your benefits.

Then, they will present the option of purchasing cryptocurrency as a solution to the problem. Then, they will send you a wallet address where you can send the cryptocurrency so that it stays ‘secure.’ There have even been cases in which scammers walk you through the process step by step. They may guide you to a crypto ATM and tell you how to insert cash that will be converted into crypto tokens.

After that, they’ll provide you with a QR code where you can send the tokens. This transaction will send the cryptocurrency to their wallet address. After that, it’s gone and it’s virtually impossible to recover your money. Since blockchain transactions are permanent, the only way to get back your money is if the scammer sends it back to you.

Bottom Line

To sum it up, you have to remember that no legitimate government entity or business will ever message you on social media or text you asking for money. Moreover, they will never require you to do so in cryptocurrency. If they ask you to do so, it’s a scam. If you receive an unexpected text, social media message, or email it contains a link, don’t click on it. Similarly, if anyone contacts you out of the blue, demanding that you pay them, never do so with cryptocurrency. And if someone asks you to pay a fee to get a job, it’s a scam as well.

The post A Guide To Spot Potential Crypto Scams first appeared on CryptocyNews.com.

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