Argentinean Fan Token Plunges After A Defeat Against Saudi Arabia In FIFA World Cup 2022

The FIFA World Cup 2022 – Qatar is turning out to be full of surprises for all football fans. The biggest surprise the FIFA World Cup has given to the fans is Argentina’s defeat against Saudi Arabia.

ARG vs KSA

One of the most exciting matches that have taken place in the FIFA World Cup so far is between Argentina and Saudi Arabia.

The match was filled with excitement and shockers for football fans not only from both countries but from the entire world.

As the Saudi Arabian fans successfully scored 2 goals against 1 from Argentina, they emerged victorious. This is a huge victory for the Saudi Arabian fans and a major upset for Argentina.

Argentina Fan Token Plummets

Due to Argentina’s recent loss against Saudi Arabia, the value of the Argentina fan token has taken a major dip. The name of the particular token is “ARG”, which reportedly plunged after Argentina’s defeat.

The die-hard soccer fans who had placed bets on the ARG token ended up getting upset with the team’s performance. They started to get rid of the token the moment Argentina lost to Saudi Arabia.

Price Movement of ARG

Prior to the match kick-off, the value of the ARG token was at a high of $7.21.

However, as the fans saw the poor performance of Lionel Messi as a player and a captain, it became ARG would lose its value.

With the Argentinean National Team losing the match to Saudi Arabia, the value of the ARG token has plunged. The value of the token has experienced a 31% plunge in the past 24 hours.

After the loss, the trading price of ARG has shed $2.25, and it is currently at a low of $4.96 per ARG. However, the price of ARG did pick up after plunging, and it rose to a high of $5.22.

Even at the time of writing, the value of ARG is at a high of $5.22 per ARG. CoinGecko, a major blockchain data analytics firm has confirmed the details about the latest price of ARG.

Saudi Arabia-Linked Assets Rose Significantly

While the trading value of the ARG token has traveled in a negative direction, the value of the assets linked with Saudi Arabia has moved higher.

A non-fungible token “The Saudis”, which is linked with Saudi Arabia, has also experienced a major surge in recent trading sessions.

The data shows that the value of “The Saudis” has surged 52.6% in the past 24 hours. Prior to Saudi Arabia’s win, the value of the NFT was at 0.196 ETH but it rose to 0.3 ETH after the match.

At the time of writing, the value of the NFT is at 0.225 ETH, which translates to $250.

It seems that the Saudi team is in very high spirits. If they continue performing the same way they did against Argentina, the value of KSA-related assets may rise tremendously.

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AlfaBTC Review – Is AlfaBTC Scam or a Legit Crypto Broker?

AlfaBTC Review

AlfaBTC is a prominent brokerage organization with offices all over the globe. Its successful services have earned a trustworthy reputation in the financial field. Thanks to the broker’s security standards and procedures, traders from all over the globe depend on it.

AlfaBTC has tailored its services and policies to meet the demands of the public and offers innovative methods and tools to clients. Here is a full AlfaBTC review that shows why it is a reliable broker for crypto traders.

Security

The dangers of cybercrime are rising with the advancement of technology within the digital industry. As a result, asset protection must be the first objective to be examined before beginning the deal.

AlfaBTC follows robust regulatory measures to safeguard the security of its client’s funds. Their servers have numerous strong security layers installed. The user’s credentials are initially encrypted using the AES 256-bit protocol. Furthermore, KYC laws ensure that every individual starting a trade is a legitimate person with valid identification.

Conditions

Before beginning a transaction, AlfaBTC requires consumers to agree to their conditions and terms to do business securely and prevent future problems. Customers should verify to see whether the brokerage’s service is authorized in their country and if there’s no legal responsibility. AlfaBTC restricts access to online service in locations where service is prohibited without alerting.

Fees

In a period of rising inflation, brokerages also charge hefty fees to clients as incentives for their trading platforms. However, AlfaBTC has kept the prices and commissions to a minimum. Their prices are reasonable and readily accessible to anyone.

In the event of a financial transaction, the brokerage does not take any fees. However, whether the transactions are carried out through wire transfer or other electronic platforms, the banks charge service costs that are not the brokerage’s responsibility.

Bonuses

Bonuses are extra services brokers offer to attract more consumers to their company. Many brokers provide their clients with sign-up incentives and forex bonuses.

AlfaBTC also provides a welcome bonus to new clients who register accounts with them. It is a technique of assuring customers that they would get a portion of their investment back after working with the broker. Furthermore, the broker provides customers with a deposit incentive. The deposit bonus value fluctuates according to the money put in the account.

Customer Support

This platform provides customer service on an advanced level. They may be contacted by telephone or email, and their website also has a live chat feature for customers to use. If a client has difficulties while carrying out a transaction, he or she is able to get in touch with customer care by sending a single message. They never take more than the minimum amount of time to react to clients.

Trading Instruments

AlfaBTC provides hundreds of trading products to customers when they begin trading with the company. It offers several advantages to consumers, including an easy trading environment for traders. It also offers a diverse selection of trading assets to trade, including indices, digital currencies, stocks, and even precious metals. Compared to other brokers, the service fees and commission percentage are cheaper. Furthermore, traders may quickly create their bank accounts with the brokerages according to their needs.

Education and Training

To trade professionally and profitably, you need to know a lot about the methods and rules of trading. Those just starting in the world of CFD trading must first get a firm grasp of the basics. Through its platform, AlfaBTC provides its customers with training and educational tools to assist them in acquiring advanced conceptual understanding. Customers receive education through downloadable guides, online tutorials, and live webinars. In addition to that, they schedule one-on-one meetings with their customers in order to instruct them.

Conclusion

AlfaBTC is a reliable online platform quickly gaining popularity among trading companies because of its reliability. It uses modern methods, gives users a choice of appealing policies, and does all of this while keeping the needs and preferences of users in mind. These all characteristics make it a trustworthy platform to experience smooth trade.

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Cryptocurrency Market To Suffer Yet Another Dip Due To Kenya’s Crypto Taxation

On November 21, the government of Kenya introduced changes to the Kenyan Capital Markets Law. The Kenyan government’s approach is to make sure that the taxation on cryptocurrencies is streamlined.

The Amendments

The amendments suggest that any individual or entity that is involved in dealing with or owning cryptocurrencies will be required to provide information on their activities.

The information for cryptocurrency ownership and dealing would be required for taxation purposes. The information is already public in Kenya through local media sources.

For the first time, the government of Kenya has decided to take a step in streamlining the taxation process in the country.

Kenya Government is Taking Interest in Crypto Taxation

The government was never interested or concerned about the involvement of their locals or entities in Kenya with cryptocurrencies.

This indicates that the government and regulators of Kenya have realized the importance of cryptocurrencies. They know how much revenue the crypto sector can generate to boost their economy.

Therefore, the country is now taking an interest and is determined to implement taxes on cryptocurrency activities.

Amendment Details

The amendment details suggest that the people dealing in cryptocurrencies and generating capital gains would be liable to pay taxes. The Kenyan Revenue Authority will be responsible for the collection of taxes.

The regulator would ensure that the taxes are paid by the individuals and entities who are involved with crypto and are generating gains.

Whether it is owning (holding) the cryptocurrencies or selling them via trades, taxes would apply to the capital gains.

The income tax would also apply to individuals or businesses who keep held the cryptocurrencies for less than a year.

If the cryptocurrencies are held across the 1-year timeline, then the income tax will be removed but the capital gains tax will be implemented.

As of now, the ranges of income tax implementations in Kenya are between 10% and 30%. On the other hand, the banks are already charging a huge (20%) in the form of excise duty.

The excise duty is implemented on all kinds of fees and commissions that involve cryptocurrency trades.

New Amendment is Problematic for the Locals

Given the number of fees the locals were already paying to the banks, the Kenya authorities implementing income and capital gains taxes are going to be very cruel.

Kenya is among the countries where the locals have found cryptocurrencies to be a way to improve their lifestyles. However, the new taxes would simply bar the locals from doing that.

A great decline is expected in cryptocurrency ownership and trading volumes from Kenya, following the implementation of the new taxation laws.

As a result, all major cryptocurrencies may take a huge hit and push the cryptocurrencies into even darker territory.

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Crypto Lender Genesis Global Capital Dismisses Imminent Bankruptcy Filing Following FTX Collapse

Genesis Global Capital denied having imminent plans for the bankruptcy filing by disclosing its priority to hold constructive conversations with the creditors. 

Genesis Exposure to FTX Downfall 

Genesis, a popular cryptocurrency lender, disproved current speculations of initiating bankruptcy proceedings if unable to bridge the $1 billion shortfall attributed to the sudden FTX Group downfall. While it admitted facing difficulties raising working capital for the lending unit, Genesis’ spokesperson refuted the bankruptcy filing. Instead, the lender’s spokesperson declared its desire to resolve the challenge consensually. 

The speculation for plans to file for bankruptcy traces to the November 16 announcement indicating Genesis temporarily halted customer redemptions. Further, the announcement attributed to the unprecedented market turbulence following the FTX Group collapse. In an earlier communication conveyed during the November 10 briefing, Genesis admitted facing a liquidity crunch as $175 million remained locked in the FTX Trading account. 

Search for Fresh Liquidity Source

The presser conveyed by the interim chief executive Derar Islim that Genesis Global Capital was serving institutional client base and, by the third quarter, had an active loans book of $2.8 billion. While announcing the temporarily suspension of loan originations, Derar clarified that Genesis Trading was an independently capitalized dealer for Genesis Global Capital. The remarks expressed hope for Genesis Global Capital securing fresh liquidity. 

The devotion to secure extra funding saw Genesis Global Capital approaching crypto exchange Binance for a bailout. Insiders privy to the conversations indicated that Binance overlooked the deal citing the acquisition would yield a conflict of interest. Efforts by Genesis to raise new $1 billion capital necessitated it to approach private equity provider Apollo Global Management. To date, Apollo is yet to convey a decision toward funding Genesis. 

Genesis Global Capital Counterparties

Genesis Global Capital’s woes trace to the huge losses it suffered earlier this year following the downfall of Three Arrows Capital (3AC). However, it has suffered harsher punishment following the implosion of FTX and Alameda Research that triggered mass withdrawal requests that strangled its liquidity. Its parent company – Digital Currency Group (DCG) had declared a $140 million equity infusion welcomed by Genesis counterparties including Gemini, Tether, and Galaxy Digital (GLXY). 

Galaxy Digital suffered a similar fate as Genesis Global Capital as it reported $76.8 million exposure to the FTX collapse. Galaxy refuted the exposure to Genesis lending operations. Circle – the issuer of USDC stablecoin – acknowledged that Genesis remained its counterparty within the Circle Yield. The announcement made on November 17 affirmed that its $2.6 million outstanding loans featured robust collateral agreements while other balances were overcollateralized. 

 

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Binance Has An Enormous Stash Of Bitcoins, Exchange Is In No Danger Of A Crash

Binance was founded back in 2017 and since then, it has earned itself the title of being the largest cryptocurrency exchange.

It has continued achieving more and more in the cryptocurrency industry and things are getting even more promising for the exchange.

In the running year, several centralized cryptocurrency exchanges have been criticized for misusing the assets of their users.

One of the biggest examples is FTX which was using its users’ crypto holdings to back up funds at Alameda Research.

However, as time are passing, centralized exchanges are becoming a problem for investors. This is the reason why people have started to lose confidence in such exchanges.

Binance is the Savior

At a time like this when investors have started to lose their confidence in centralized exchanges, Binance has come up to the sector’s support.

The largest cryptocurrency exchange by trading volume is indeed a centralized exchange and it is running its business better than any other exchange.

Whether it is a centralized exchange or a decentralized one, Binance has been performing really well. The exchange feels no harm from the regulatory scrutiny or investigations.

The reason is that the exchange is fully regulated and strictly adheres to all the regulatory policies. Therefore, the exchange is able to perform well, and thus, it can claim that its investors’ funds are safe.

Binance has Shared Bitcoin Holdings

Due to the recent crashes of major cryptocurrency platforms, investors are concerned about whether their funds are safe with third-party firms or not.

The investors are not ready to face another cash, which causes them to suffer from the same losses they faced due to FTX and Terra crashes.

Now, the investors are demanding to be provided with the proof-of-reserves. In such an environment, Binance has attempted to lighten the mood by sharing the addresses of its assets.

Statement by Changpeng Zhao

The CEO of Binance made a statement about the current reserves of Binance and how it will share its data with the crypto community.

He stated that they are working on the process of performing proof-of-reserves and it will soon be available to their users.

Changpeng Zhao Provided Bitcoin Reserves Stash Data

Although he claimed that they are working on the proof-of-reserves data for all the cryptocurrencies, they do have data available for Bitcoin.

Zhao revealed that on November 6, they had a total of 526,128 Bitcoin which amounted to around $8.63 billion.

However, as of November 12, their total stash had been reduced to 447,964 Bitcoin, amounting to around $7.34 billion.

This is an assurance for the cryptocurrency community that despite all the ups and downs, Binance is going nowhere. Therefore, investors must not lose their confidence in Binance.

This is also an assurance that the price of Bitcoin is going to rise soon as not many investors have withdrawn their funds from the exchange.

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Interacinvestor Review – Everything You Need To Know About Interacinvestor

Interacinvestor Review

There are a few strong trends that have emerged in the last couple of decades and one of them is online trading. There was a time when you had to venture out in order to even think about trading, but those days are long gone, thanks to the internet and technological progress.

Today, you can trade from the comfort of your office or your home and still be able to access all the opportunities that the financial markets have to offer. As a matter of fact, trading has become a lot more simplified because you don’t need to have copious amounts of money and neither do you need any experience or education to begin.

The only real requirement that you have to fulfill is to find a reliable and dependable broker that can provide you with access to the markets. Finding anything online nowadays is pretty straightforward; you run a simple search on Google and a list of options will be available.

The same applies to brokers, but you have to remember that not every name on the list is capable of doing a good job. This is where you have to do your homework and find out whether a company is the right fit for you or not.

Look at their asset index

The first place to begin your research into Interacinvestor is to consider their asset index. What assets will you be able to trade through their platform? This answer can make a big difference in your decision, especially if you have a specific asset you want to trade, or you are looking to diversify your portfolio.

No matter what the scenario, this company can be a good fit because they are offering an extensive variety of assets to their clients. Their aim is to permit traders to invest in as many financial markets as possible, due to which they have added a great variety.

When you decide to use International Market Service Board as your broker, you will be able to invest in the indices market, which includes some lucrative choices like NASDAQ 100 and S&P 500. You can also go with the commodities market for consistent profits by trading precious metals like gold, silver, platinum and palladium.

Currency pairs, such as EUR/USD, USD/CHF, GBP/USD and USD/JPY can also be traded. In fact, they have even added the option of cryptocurrencies, such as Bitcoin and Ethereum, to their offerings. This gives every trader the opportunity of finding an asset that suits their risk appetite.

Consider their trading platform

After evaluating the assets they are offering to you, it is time to look into how you can trade them. This is another important aspect because it determines your trading experience as a whole. Interacinvestor is well-aware of the role of trading platform, so they have incorporated the superior option i.e. the MetaTrader5.

It is a simple yet powerful trading platform that uses innovative technology and features to deliver an optimal trading experience to its users. If you are a professional trader, you can download the MT5 on your PC or Mac for a full-fledged trading experience.

If you wish to have an easier-to-navigate and less hassle-free option, Interacinvestor allows you to use the web version of the MT5, which you can access through their website.

Traders who enjoy trading on the move can download the mobile apps that have been designed for both iOS and Android ecosystems and take only a few minutes to download and install. You can use them for accessing your trading account anywhere and everywhere.

Go over registration and account opening

What exactly do you need to do to register with Interacinvestor? This is an important question that you need to ask because if you have to jump through a lot of hoops, it is better to steer clear.

Luckily, you only have to fill a single form on their website to complete the registration process and this doesn’t take more than a few minutes. As far as account opening is concerned, they provide you a demo account option that you can use for getting in some practice.

After you have gotten acquainted with how the system works, Interacinvestor gives you the option to open a real live trading account for executing trades in the market.

Assess the support options

It is also important to determine what kind of support you can expect to receive from a broker because it can affect your experience. If you get stuck with a problem, you don’t want to wait for days for help, as it can result in losses and missed opportunities.

Interacinvestor has been proactive where customer service is concerned. They have a dedicated department, which can provide assistance 24/7, and you can reach out to their support staff through numerous channels. You can get in touch with them via phone call, or you can send in your query via email. You also have the option of using the live support option provided on their website.

Other than these features, you will also come to know that Interacinvestor offers robust security measures and have an excellent pricing policy that allows their clients to maximize their profits. You can find everything you need on this platform and can achieve your trading goals without any problems.

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Amidst Global Crypto Market Downfall, Nayib Bukele Doubles Down On Bitcoin

Nayib Bukele, the El Salvador President recently made a statement showing what a real Bitcoin (BTC) pro sounds like. He is a strong supporter and advocate of Bitcoin and he is proving that with his ambitions.

According to him, the current downfall in the Bitcoin market is just a test for the entire Bitcoin community. It is the test of their loyalty and patience because success does not come for free it has to be earned.

He added that to become successful in the adoption of Bitcoin, they have to stay loyal to it and keep believing in its potential. If they withdraw now, they will only show that they are giving up on their country’s success.

Current Market Situation of Bitcoin

The reason why Nayib Bukele has made such a statement is that due to the recent crash in the crypto market, many investors have lost faith in crypto.

Even Bitcoin investors are losing their confidence in investing in Bitcoin. People have started withdrawing their Bitcoin holdings from centralized exchanges and they are resorting to self-custody solutions.

At the moment, there is too much uncertainty in the cryptocurrency market and not much can be said about the future of any cryptocurrency. Even the future of Bitcoin is currently facing a lot of uncertainty.

At a time like this, Nayib Bukele has stood up in support of Bitcoin, boosting the confidence of the Bitcoin community. He has made a huge announcement that is ought to bring back the masses to the Bitcoin market.

Situation of Bitcoin

It was in July 2021, when Nayib Bukele announced that he had presented a bill at the El Salvador parliament to grant legal status to Bitcoin in the country.

Then in September 2021, Bitcoin was indeed inducted into the ES law as a legal tender. At that time, Bitcoin’s trading price was hovering over $50k and it even went all the way up to $69k.

Since then, Bitcoin has not been able to hit another all-time high and the situation has gotten worse for BTC ever since the year 2022 began.

Despite the constant deterioration of Bitcoin’s price, Nayib Bukele has continued supporting it, which means ES is supporting the coin.

ES to Purchase 1 BTC every day

As the price of Bitcoin is currently hovering at a low of $16,642.82, Nayib Bukele perceives it as the best opportunity to buy the currency.

According to him, they will be starting a new program from Friday that would see one BTC being bought every day. This would mean that El Salvador would continue accumulating BTC to no end.

Although Bitcoin is currently experiencing a downtrend with support coming from Bukele and other Bitcoin proponents, its price is destined to surge.

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