AMC Entertainment Announces to Accept Bitcoin Payments

Bitcoin adoption is on the rise as the market has finally found the kind of stability that was lost amid the mid-May crash but once again, things are going back to normal. The on-chain analysis of the cryptocurrency suggests that investors are once again favoring Bitcoin and are more than ready to invest their money into the cryptocurrency once again. However, the non-financial adoption of bitcoin, which means in other various sectors of life such as in retail and e-commerce industry and the entertainment industry, is also something that is well received. 

Recently AMC entertainment, singlehandedly the biggest cinema in the world, has announced to adopt Bitcoin as a source of payment method from the consumers. This is a long-overdue aspect of Bitcoin adoption that finally the entertainment industry is giving it some thought, it is not long before the film industry and Hollywood would be interested in the concept, giving way to NFT development and release for fans and clients. However, at present only AMC has taken the initiative and will be favoring the adoption of Bitcoin in all of its US locations and ticketing centers. 

Entertainment Industry Finally Gives the Green Light to Crypto Payments

According to CEO Adam Aron, the company is looking forward to investing in the concerned technology that will be able to handle crypto payments and such in the near future; an expected trajectory is at the end of the year 2021. This is all that the company’s spokesperson has to say about Bitcoin adoption at the moment, it is not fully clear how the studio is going to enable the Bitcoin payments at the moment, but the timeline is pretty clear. Taking a bold guess, the very decision of the company moving in with Bitcoin payments may be the result of meme-stock mania, an initiative quite popular on Reddit. People are wildly sharing memes depicting AMC investing in bitcoin, and this little stunt has sent the price of AMC’s stocks skyrocketing. According to a recent update other than Bitcoin, the company is wildly looking forward to investing in other blockchain-oriented options; a complete plan will be laid out soon.

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CEO of MyEtherWallet Talks about Major Components of Ethereum Upgrade

It was just last Thursday, August 5, 2021, when Ethereum reportedly went through an upgrade. The new upgrade was related to the blockchain network that Ethereum is currently offering its users. The new upgrade would introduce several fixes for the Ethereum network that the users had been experiencing for a while.

Following the successful implementation of the network upgrade on Ethereum, several personalities from within the cryptocurrency industry have shared their thoughts. One major personality that has talked about important changes that the Ethereum network upgrade has introduced is Kosala Hemchandra, the founder and CEO at MyEtherWallet.

Hemchandra stated that despite several changes being introduced into the network, there are two changes that are of really high importance. He initially talked about the major changes that have been introduced through the London Ethereum network upgrade.

He stated that there are around five major changes that the Ethereum network upgrade has introduced. Out of these major changes, only two changes would prove to be beneficial for the users in their day-to-day activities on the Ethereum network.

Hemchandra stated that out of the two major changes, the first one was the fix for the transaction delays. Since the end of 2020, the Ethereum network was faced major delays when processing transactions. As a result, the users had to pay high fees when processing transactions.

Over time, as new networks came into being such as Binance Smart Chain and Polkadot, things had started to take a turn for the Ethereum network. The users started growing impatient and agitated because of the delays they were experiencing with transactions and the high fees they incurred.

It was almost like a ticking bomb for the entire Ethereum blockchain network that was in the making. The bomb could have exploded any time, bringing down the entire Ethereum network. Therefore, the Ethereum network has solved the problem by implementing the hard fork just in time.

The second major upgrade that has been introduced in the Ethereum blockchain network is the scalability fix. The upgrade has introduced very high scalability for the Ethereum blockchain. This would eventually mean that more transactions would be able to flow through the network in a single moment. Even the high fees that the users currently incur would not be experienced.

Back in October of 2020, when the cryptocurrency industry started gaining tremendous growth and adoption, Ethereum was among the most demanded cryptocurrencies and blockchains.

Therefore, the platform ended up experiencing many transaction delays, latencies, disruptions, network failures, scalability, and high fee issues. Although the network tried solving this problem with the implementation of an upgrade, it first needed to develop a consensus.

This is where the Ethereum development team had to do most of the work. It was announced towards the end of 2020 that the Ethereum development team was working on the Eth2.0 protocol. However, the entire Ethereum community was shocked when they were informed that Eth2.0 would be on a different consensus protocol.

While the initial (primary) Ethereum protocol was based on the Proof-of-Work (PoW) consensus protocol, the upgrade protocol is based on Proof-of-Stake (PoS) consensus protocol.

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Top Ways to Manage Risks when Trading Cryptocurrencies

One of the most crucial elements of successful trading is risk management. No matter how good you consider your trading strategy, you have to remember that nothing is guaranteed. Every trader will eventually take a hit from time to time and the only way to stay in the game for the long haul is to have an effective risk management strategy in place. This is of the utmost importance when you are trading an instrument as volatile as cryptocurrency. But, how do you manage your risks when you want to trade these digital currencies? Here are some of the top ways you can accomplish this:

Protect yourself from counterparty risk

There is no denying that some of the highest percentage gains have been seen in the cryptocurrency market, but you need to remember that they are not without their problems and there is a degree of counterparty risk involved when you are using an exchange. Crypto transactions are considered irreversible and expecting an exchange to protect your private keys is a recipe for disaster. There have been numerous incidents where exchanges have been hacked and money was lost. Crypto traders cannot fully eliminate counterparty risk, but it can be reduced significantly.

How? The key is to only trade with just 20% to 30% of your portfolio, research the exchange to ensure it has a good reputation, diversify your cryptocurrencies amongst several exchanges, and don’t leave your coins on the exchange if you don’t plan on trading actively.

Trade quality over quantity

Overtrading the market is a big mistake on the part of traders because they end up wasting a lot of time and money this way. Opting for quality over quantity is the best way to ensure effective trading. Your strategy may not be handy in all types of market situations. For instance, automated scalping is more effective when markets are stable, while swing trading gives the best results during strong trends. If you want to make quality trades, you need to decide what kind of trading style suits you, along with identifying the right market conditions.

Have an exit strategy

Mapping out your trades ahead of time is a smart move, as is identifying key resistance and support levels. You also need to know the risk and reward ratio and then set your targets accordingly for taking profits. Traders can either choose to scale out the long way to lock in profits, or they can add to their position during strong trends. You should also set stop orders for protecting yourself in case the markets are moving against you. Just bear in mind that stops are not always effective if the price moves too quickly, or slippage may lead to a bad fill.

Don’t use leverage excessively

Margin is often used by traders because it helps them in increasing the order size and also gives them flexibility in going long or short. With that said, you shouldn’t forget that using excessive leverage will not give your trades enough time to breathe and you can end up losing your whole principle amount if you are forced to liquidate. Some exchanges do tend to offer leverage as much as 100%, but your account can be destroyed if the market moves against you even by 1%. A saner approach to using leverage is by keeping it at x3. This helps you in increasing your gains and gives you enough room to exit a trade.

Don’t fall for hype

Last, but certainly not least, don’t fall for the hype. Fear of missing out, or loss, is the biggest enemy of a trader. If you become too greedy, you may end up purchasing tops. If you panic sells, you may end up doing so at the bottom of a dump. Half the battle is staying objective and managing your emotions and understanding that hype mostly occurs after the trend has already hit its peak.

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Cryptocurrency Payments to be allowed by the New Bill in Ukraine

As per the latest reports, cryptocurrency payments will be permitted to be processed in Ukraine. This is to be approved in the form of a new bill that has been submitted in Ukraine. If the new bill is approved, the locals in Ukraine would be able to make payments through cryptocurrencies such as Bitcoin (BTC) and Ether (ETH).

It has been claimed by an official from the government of Ukraine that cryptocurrencies would still not be recognized as a legal tender in the country.

Oleksandr Bornyakov, the deputy minister of the Ministry of Digital Transformation in Ukraine shared his views around the approval of the bill. Bornyakov stated that he is confident that despite the government’s stance, cryptocurrencies would be authorized to make payments in Ukraine.

The locals in Ukraine are already able to make payments despite the restrictions and they are able to do it with the help of intermediaries. These intermediaries are known for facilitating users in helping them process crypto-to-fiat conversions and then payments.

It was on Friday, August 6, 2021, that Bornyakov had been interviewed by Minfin, a local financial publication. In the interview, he talked about the latest draft bill that had been presented at the Ukrainian Parliament for approval around cryptocurrencies.

He stated that the particular bill clearly talks about the current status of cryptocurrencies in the country. He stated that the draft bill submitted clearly stated what status the cryptocurrencies had in the country. He stated that the bill clear suggests that cryptocurrencies do not have a legal status/tender in Ukraine. At present, the draft bill also suggests that the cryptocurrency are only allowed in the country for purchases.

He stated that the cryptocurrencies not being legal does not mean that the payment processors will not be able to provide crypto-to-fiat services to users. The firms would still be able to provide crypto-to-fiat services to the users. The users would be able to make payments in the form of cryptocurrencies with the help of such intermediaries.

Once the bill has been approved, the reporting and trading for cryptocurrencies would be legitimized in the country. He stated that they are confident that following the approval of the bill, the intermediaries would be able to offer much more to the locals.

The users would be able to use cryptocurrencies to make payments for different kinds of services and purchases of products. The intermediaries would be able to provide access to users to different merchants and services ready to accept cryptocurrencies.

With the new bill around cryptocurrencies, the Ukrainian Government has made it clear that it is aiming to gain prominence in the cryptocurrency sector.

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Michael Saylor Says There Is No Apparent Reason Not To Hold BTC For The Next 100 Years

As per MicroStrategy Chief Executive Officer Michael, no one really is in a rush with BTC: People believe it is the new potential property.

Saylor, Chief Executive Officer of BI company MicroStrategy, has vigorously defended the firm’s optimistic, protracted BTC stance, citing the digital currency’s distinct ability to grow into a new potential of the assets.

Talking with Bloomberg, the CEO claimed that the firm’s large investment in BTC, which the company has financed with a loan, is really the business’s highest reward, safest possible approach.

In answer to the questioner’s query about how huge, centralized conglomerates like Facebook and Twitter’s interests could be balanced with a distributed platform, Saylor said that BTC offers the solution to fixing their chronic spam and cybersecurity challenges. Incorporation with BTC, particularly the micropayment-supporting Lightning Network, can address such issues by integrating an environment that really can attest to trust and creditworthiness.

Michael’s forecast for BTC’s protracted prospects looks to be divided among its ability to enable new online features and develop further into property’s potential.

The firm has leaned heavily on BTC for that it infamously carried out a loan of about $2.2b at a combined rate of interest of around 1.5 percent because the business expects BTC, as something of a public property system, to be utilized by “a lot of customers.” Meanwhile, the business now has a ten-year horizon. Michael’s statements indicated that his outlook is really uncompromising 

In the meantime, the cryptocurrency is still serving the demands of retail investors, according to Michael, emphasizing that digital currency, in particular, provides users of applications such as Robinhood with the distinct ability to exchange 24 hours and 365 days a year. According to him, it makes plenty of sense for the firm to push and increase its belief in the latest asset class. Amongst crypto assets, however, BTC remains the least risky investment that holds a big buzz surrounding it, as per the CEO of MicroStrategy.  As per the findings of the latest Crypto.com survey, the amount of digital currency users globally has quadrupled in June to a respectable 221m from 100m in Jan., while BTC still has the biggest’s chunk of the userbase, less significant altcoins have gradually consumed into the pair.

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Zipmex Announces Partnership with a Major Payment Services Company

As per the latest reports, Zipmex has formed a partnership with Visa. Zipmex, is a major cryptocurrency and fiat trading platform that is mainly providing services in the Asia-Pacific region. It has been revealed that the partnership is going to be a strategic one among the firms.

Zipmex has also revealed the reason why it has decided to form a partnership with Visa. According to the firm, it is aiming to enhance the experience of its users in terms of products and programs. The platform is aiming to launch several products and programs for its users by forming a partnership with Visa.

The crypto-fiat trading platform is aiming to introduce more services and products for its users in the coming days. This is the reason a partnership has been formed between Zipmex and Visa.

As part of the partnership, the payment network of ZipSend would be integrated into the infrastructure that is provided by Visa. ZipSend is mainly known for providing users the ability of spending cryptocurrencies.

The integration of ZipSend would ensure that the 70 million merchants currently being supported/backed by Visa have access to ZipSend. This way, the users on ZipSend would be able to benefit from the latest partnership between the firms. The users would have 70 million more merchants added to their available options.

This is not the only benefit that ZipSend is aiming to offer its users. The firm is also aiming to launch a payment card that would be branded by Visa. However, the company has no plans of making it happen right away. Instead, ZipSend is aiming to launch these cards by the end of 2021.

At present, Zipmex has its operations spread out in several countries. Some of the major countries where Zipmex currently runs its operations include Australia, Singapore, Indonesia, and Thailand. When it comes to catering to users, it currently has several thousand users.

At the time of writing, Zipmex has a total of 200,000 users that it is handling through its operations. Ever since the launch of Zipmex, it has recorded over $1 billion worth of transactions. The platform was reportedly launched back in 2019 and has been constantly growing bigger and better for users.

Zipmex has revealed that it is aiming to launch new products, services, and even cards for its users. However, the release of such products, services, and cards is subject to approval from the regulatory authorities from the respective countries.

Once the regulatory authorities give the go, Zipmex will go ahead with the production and launch of the Visa-backed cards for its users. With this move, Zipmex will successfully revolutionize the way its users have been using the platform.

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Binance.US CEO Brian Brooks Resigns from his Position

Binance is among those crypto exchanges which have been facing some immense issues on a global level. Recently in England, Binance tried to sell people regulations that were not even accredited by the local regulatory bodies, which is why it got its license terminated effective immediately, and many major banks, including Barclays, dissolved their partnership with the crypto exchange till further notice. In China, Binance is almost out in terms of the trading operations which it was first delegating; it can be said that the exchange was in some deep waters all over the world regarding the regulatory oversight.

Another shocking news came forward today as Brian Brooks resigned from his position at Binance, US. According to the spokespersons at the exchange, US Brian stepping down will not interfere with the daily operations in any form, but the crypto community, on the other hand, has some spiraling thoughts on the matter.

Brian brooks is not a light personality as he already has served as the chief executive officer for various crypto exchanges in the past and was the CEO of the exchange for the past four months, but then out of the blue, he suddenly decides to leave the exchange hanging in the balance. It was accepted with great confusion and distress among the crypto community. 

Crypto Community in Shock over Brian Brook’s Resignation

In a generic tweet, Brian has bored the curtains from the massive secret which led to his resignation. The tweet reads that there were some differences in the strategy direction among the stakeholders and the board panel, and according to Brian, this is the main reason why he resigned from his position.

Changpeng Zhao, the CEO of Binance, which is a completely separate entity from Binance US, sugarcoats the whole situation by addressing this event as not that important. Zhao thinks that Brian stepping down as the CEO of Binance US will not hinder the operations in the United States in any way or form and will certainly not affect Binance customers.  The crypto community, on the other hand, has been taking this whole thing as something big coma, something which is not right as there is a huge tension among the investors and crypto enthusiasts that Brooks might have known something big or scary about the exchange and that is why he stepped down. Even if it looks kind of hilarious, but it has a certain ring to it.

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