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Is DeFi the next bubble to strike cryptocurrency? – Yahoo Finance

Decentralised finance, commonly abbreviated to DeFi, has been one of the most notable developments in the cryptocurrency industry this year, with companies like Compound soaring in popularity alongside a host of other start-ups.

The rise in notoriety of DeFi is eerily reminiscent of the ICO bubble in 2017, which saw hundreds if not thousands of companies raise millions of Dollars in capital.

The bubble historically burst in the early stages of 2018 with the majority of ICOs losing more than 95% of value within the space of a year.

The issue was that most companies opted for the ICO route to bypass the heavily regulated and screened IPO structure, which meant that tokenisation simply wasnt needed for the company to be a success.

Whitepapers that promised to revolutionise respective industries was commonplace, which in hindsight only contributed to one of the largest bubbles in recent history.

As the hype began to subside so did the companies that raised millions in 2017, with the likes of Pillar CEO David Siegel admitting to the complexities of operating a business during a gruelling bear market.

Another cornerstone of the ICO bubble was the flock of social media influencers that became overnight cryptocurrency advisors and whitepaper authors on social media websites like LinkedIn.

Fast-forward three years and another wave of social media aficionados are coming to LinkedIn but this time around they have taken ICO out of their bio and replaced it with DeFi.

This time around the sentiment is very similar, with people hailing DeFi as being a catalyst for change within the financial sector, ignoring the fact that the financial sector is in no desperate need of decentralisation.

It may be difficult for those who have invested too much capital into cryptocurrencies, but it remains extremely unlikely that a pseudo-sector like DeFi will be the saving grace that will drive mass adoption.

It does, however, have the potential of damaging the sector if the inflating bubble pops later this year as it was warn off another group of investors.

The Compound chart is a fine example, it surged by 167% just days after it was listed on major exchanges before falling by more than 50%, demonstrating how fragile this immature market still is.

At this stage, while many will disagree, DeFi seems like a new buzzword that applies to cryptocurrency companies in the lending space, which from an ethical standpoint isnt the right way to go in terms of achieving mainstream adoption of digital assets.

For more news, guides and cryptocurrency, click here.

The views expressed in this article are not necessarily the views of Coin Rivet.

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Is DeFi the next bubble to strike cryptocurrency? - Yahoo Finance

Explainer: What is ‘LBCOIN,’ the new Lithuanian state-backed cryptocurrency? – Euronews

The ongoing COVID-19 pandemic has accelerated the development of digital currencies by central banks in a bid to encourage people to turn to cashless payments.

One such project is being led by Lithuanias Central Bank, which will open a pre-sale for the worlds first digital collector coins - dubbed "LBCOINs" - on July 9 as part of its trial of blockchain technology and digital currencies.

The Bank of Lithuania (BoL) has been developing the project since March 2018 and is now entering the final phase of the trial.

The project is more of an experiment rather than the official launch of a tradeable currency. 24,000 digital LBCOINs will go on pre-sale this week, sold in packs of 6 for 99. Each token will feature a portrait of one of the 20 signatories of Lithuania's declaration of independence signed in 1918, which have been divided into six categories: priests, presidents, diplomats, industrialists, academics, and municipal servants.

Collectors will be able to trade tokens then exchange a specific set a token from each of the six categories for a physical silver coin worth 19.18. The BoL explained that their use as a means of payment will not be encouraged as it is meant to engage more people, especially the youth, in coin collecting while gaining valuable experience and knowledge in the field of digital currencies.

Decentralised, secure, and encrypted, a blockchain is a time-stamped series of data that is shared and authenticated by a cluster of computers. The technology is considered to be revolutionary because it helps reduce risks, affords transparency, and is not owned by one single entity.

According to Sinop Conseil consultant Florence Presson, the need for blockchain originates from the loss of trust between citizens and institutions. People tend to trust a stranger more than an institution, says Presson. She advocates for trust devolution based on blockchain technology and believes both administrations and citizens could really benefit from it when it comes to official records: birth certificates, deeds of sale, and so on.

Blockchain Partner co-founder, Alexandre Stachtchenko argues that blockchain also tackles other shortcomings of the Internet: how to transfer value and depict something as rare when it is not unique. Unlike an e-mail, once youve sent out a bitcoin, you cannot access it anymore, he explains. The blockchain expert notes with regret that the monetary discussion has been overshadowing the technical one, with blockchain often being associated with cryptocurrencies with much-publicised bitcoins.

Stachtchenko believes that the BoL's interesting, unpretentious initiative will fuel the debate about cryptocurrencies and deal with the elephant in the room. With developments like Facebooks cryptocurrency Libra, which should be launched by the end of the year, governments sovereignty is now being challenged with one of their main prerogatives: the establishment and the management of currency.

There is no doubt that other countries will be following this experiment closely as the race for a central bank digital currency (CBDC) is accelerating. In a report published on July 2, the Bank of Japan announced moving towards a testing phase aiming at introducing a CBDC eventually.

A survey conducted in January 2020 among 66 central banks by the Bank for International Settlements showed that more than 80 per cent of them were developing a central bank digital currency.

In a speech at the Consensus 2020 virtual conference on May 11, Vice-Chair of the Supervisory Board of the European Central Bank (ECB), Yves Mersch recognised that Europe will need to be ready to embrace financial technological innovation which has the potential to transform payments and money faster, and in more disruptive ways, than ever before."

This represents a sea change with ECB leaders, particularly given that former President Mario Draghi stated in 2017 that no member state can introduce its own currency; the currency of the eurozone is the euro in response to Estonian government's proposition to promote the circulation of a new cryptocurrency.

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Explainer: What is 'LBCOIN,' the new Lithuanian state-backed cryptocurrency? - Euronews

Cryptocurrency-Focused Docuseries Airs to Millions of Viewers via the Discovery Science Channel – Bitcoin News

A new docuseries called Open Source Money recently aired on July 4 and premiered on the Discovery Science channel. The new show gave millions of Discovery viewers information concerning bitcoin, cryptocurrencies, initial coin offerings, and blockchain technology. The cryptocurrency-focused show airing on Discovery will continue this summer with a number of episodes broadcasting once a week.

Open Source Money is the name of a new docuseries that aired on Saturday and premiered on the Discovery Science channel and the on-demand television provider Philo. The new series gives viewers insight into the cryptocurrency ecosystem by talking with a number of digital currency experts and luminaries like Brock Pierce and Charles Hoskinson.

The focus of the story is mainly about the Dragonchain (DRGN) initial coin offering (ICO) and how the projects creators had to deal with the United States Securities and Exchange Commission (SEC).

Dragonchain was also initially developed in 2014 at the Walt Disney Company branch in Seattle, but since 2016, the project and Disney severed relationships. The series Open Source Money was produced by the firm Vision Tree and the company raised $1 million via a variety of cryptocurrencies for filming.

The episodes feature Dragonchains issues with the SEC when the U.S. regulators deemed the project an unlicensed security. The episodes also feature the Chamber of Digital Commerce founder Perianne Boring, the notorious John McAfee, and Celsius Networks Alex Mashinsky.

Reports say that Patrick Byrne will also star in one of the five parts filmed for the series. Despite the fact that the filmmakers follow the Dragonchain creators around for a bit, the first episode also acts as a Bitcoin 101 lesson.

The shows theme also focuses on the current regulatory attitude toward cryptocurrencies in the United States. The show will air on Discovery Science and Philo at 10 a.m. ET every Saturday until the finale.

Discovery is an extremely popular channel with an 81 million U.S. network audience and six million in Canada. Outside the U.S., 2019 data shows that the Discovery network has well over 450 million viewers worldwide. Discovery Science is a subset of the official Discovery network of channels and can be found in most locations worldwide.

The San Francisco-based and Mark Cuban-backed on-demand streaming network, Philo has roughly 50,000 subscribers.

Each episode highlights major contributors in the cryptocurrency revolution, including notable figures Patrick Byrne, Brock Pierce, Joe Roets, and companies the likes of Disney, Facebook, and more, explains the Open Source Money website. The websites welcome page adds:

Overall humanity is at a crossroads and the future of money as we know it will be transformed by Blockchain and the new internet of Value. The only question is, where will the US stand in the Space Race of our generation when the dust settles?

The website also notes that theres a provably fair 500,000 DRGN giveaway and viewers need to find clues each week in order to win. According to the Open Source Money docuseries web portal, after each episode the clues can be used to find the elusive treasure.

This weeks question has a number of keywords and numbers that the viewer must choose in order to participate in the contest.

Words and numbers featured this week included: 1776, Pizza, Nascar, Cheesballs, Disney, Ramen, Beaxy, Hyundai, Seattle, or Avacodo Toast. After each episode, a weekly prize winner will be selected, explains the docuseries producers. All correct answers, from the start of the contest, are entered into the Grand Prize drawing.

The Open Source Money trailer can be seen below, while Philo and Discovery Science subscribers can watch from those channels.

What do you think about the Open Source Money docuseries? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, opensourcemoney.tv

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Cryptocurrency-Focused Docuseries Airs to Millions of Viewers via the Discovery Science Channel - Bitcoin News

Cryptocurrency as an alternative during times of inflation – ITProPortal

We have seen investors and consumers alike deliberate about what the economy will look like post-pandemic. As the world emerges from the crisis, industries that have been shut down will be left surveying the widespread damage, some of it permanent. Consumers will likely be split between the fortunate ones that have been able to work and others whose livelihoods have been compromised as a result of the shutdown.

To mitigate the sever economic impact, governments and central banks globally are printing and distributing extra money to prop up parts of the economy which can no longer function at pre-Covid capacity levels. In the UK alone, an estimated 123bn has already been plugged into the economy and there are estimates that Bank of England stimulus levels could peak at 1 trillion.

Despite the argued necessity of these measures, it is almost impossible not to question the impact on inflation. This massive increase in governmental quantitative easing will have an impact on the global economy, and for asset prices in particular. While inflation is defined as the rate at which the average price level that particular goods and services increase over a period of time, its easier in this context to regard it as the result of a decrease in purchasing power.

As a result, investors will often look safe-haven assets that could provide a hedge against rising prices and avoid the destructive impact of inflation. Gold price is one indicator, and at the time of writing it is seeing a ten-year high while Londons FTSE 100 tumbled 2.8 per cent, and the Eurex Exchange reported a 59 per cent month-on-month decline since April volume. Historically gold had been used as a hedge to protect against economic events including inflation or currency devaluation. Although we can expect this use to continue as a popular option, the pandemic has shown a shift in consumer interest to other safe haven asset classes.

Cryptocurrency is an alternative method of inflation protection which should not be overlooked. Although previously appearing as counterintuitive due to perceived volatility, digital assets have held their own against the stock market, unlike other commodities such as oil. The value of oil has crashed due to vanishing demand and a resulting supply excess causing the price to fall to negative value.

While the comparison between gold and crypto has some nuances the broader theme of Bitcoin as a protective hedge against inflation has broken through especially after the BTC halving we saw in early May. This event has brought attention to Bitcoins controlled supply, with only 21 million max tokens being permitted. At a time when more paper currency is being created in circulation, the amount of Bitcoin halving is causing investors to look away from government-backed paper. While also highlighting the use of cryptocurrency generally as a means of exchange within a more digitally oriented world economy.

In contrast, digital assets have seen a different story. Without the worry of political interference and variable supply rates, cryptocurrencies can benefit from being a less vulnerable investment in times of crisis. We have seen that Bitcoin is still up 22 per cent from a year ago. Newer coins like Tezos are up around 30 per cent so far this year. Both digital currencies highlight that crypto volatility is potentially a sign of the past, especially when compared to the volatility in traditional asset markets.

With crypto trading operating 24/7, 365 days a year with instantaneous settlement while traditional equities still have fixed trading hours and have a settlement cycle of T+3, crypto can provide even more perceived security and flexibility for investors. Cryptocurrencies can also be used as a tool for portfolio diversification and as a method of protection against the economic and political uncertainties to come.

We have witnessed economic disruption before, across ongoing periods of hyperinflation in Venezuela and Zimbabwe more recently, and in Weimar Germany in the 1920s. While it is not helpful to draw comparisons across these countries or their respective banking systems, it is worth taking note of the value crypto offers in terms of being an alternative to unstable national currencies.

Well-known investors such as Paul Tudor Jones are buying bitcoin, saying that his fund may hold as much as a low single-digit percentage of assets in bitcoin futures a measure to protect against a rise in inflation. While Mike Novogratz stated that 2020 will and needs to be Bitcoins year, underlining further investor confidence in digital currencies. Data reinforces this view, by looking at results from the crypto asset manager Grayscale. In Q1, inflows north of $500 million, more than doubling its previous best quarter. Almost a third of this capital came from new investors and most being institutions. Almost every indication that inflationary fears shall add to the tailwinds already powering fresh investment in cryptocurrency, among them institutional involvement and improving regulation.

Bitcoin is inherently structured to encourage a deflationary approach and a relatively stable store of value acting as a true alternative to hedge against inflation, as well as the policies that precede it.

While digital assets emerged out of the embers of the 2008 financial crisis, we can only speculate what technological innovations will rise post-pandemic. Hopefully, the global economy will allow cryptocurrencies to solidify their place in future investment portfolios as it currently demonstrates strong performance and price sustainability.

We are beginning to see the early signs are already there, that investors are turning to cryptocurrencies both as a key tool for diversification and a hedge against uncertainties to come. Ultimately, we are just at the tip of the iceberg when it comes to truly understanding the vast opportunities that digital assets and blockchain for transforming the global economy and we are ready for this challenge.

Stephen Stonberg, COO and CFO, Bittrex Global

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Cryptocurrency as an alternative during times of inflation - ITProPortal

Latest News On The Cryptocurrency Market | Intel, CoinBase, BitGo, and Binance – Market Research Publicist

A recent report published by QMI on cryptocurrency market is a detailed assessment of the most important market dynamics. After carrying out a thorough research of cryptocurrency market historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for cryptocurrency during the forecast period. It can enable manufacturers of cryptocurrency to change their production and marketing strategies in order to envisage maximum growth.

Get Sample Copy of This Report @https://www.quincemarketinsights.com/request-sample-58594?utm_source=MR&utm_medium=Santosh

According to the report, the availability of the decentralized system and the absence of fees on transactions is expected to drive the growth of cryptocurrency market during the forecast period.

Cryptocurrency can be termed as a virtual currency that is used as a medium of exchange and transaction which is secured and has gained much popularity in todays economic world. Most of the important transactions have now shifted to the use of cryptocurrency and a huge segment of the market is now shared by these currencies.

Growth in the number of digital transactions and the availability of a much-secured transaction through cryptocurrencies are the key factors for the growth of Global Cryptocurrency Market. The absence of interest rates or exchange rates on transactions has enabled it to gain worldwide recognition and has led many people to invest in this market. Many other benefits like protection from fraud, low fees, quick international transfers and non-regulation of transactions have led to the growth of the global cryptocurrency market.

Make An Inquiry For Purchasing This Report @https://www.quincemarketinsights.com/enquiry-before-buying/enquiry-before-buying-58594?utm_source=MR&utm_medium=Santosh

Some of the key Impact Factors:o Secured transaction facilitieso Availability of decentralized system and absence of fees on transactionso Unavailability of Government regulations

Insights about the regional distribution of market:

The market has been segmented in major regions to understand the global development and demand patterns of this market.For cryptocurrency market, the segments by region are for North America, Asia Pacific, Western Europe, Eastern Europe, Middle East, and Rest of the World. During the forecast period, North America, Asia Pacific, and Western Europe are expected to be major regions on the cryptocurrency market.

North America and Western Europe have been one of the key regions with technological advancements in ICT, electronics & semiconductor sector. Factors like the use of advanced technology and the presence of global companies to cater to the potential end-users are favorable for the growth of cryptocurrency market. Also, most of the leading companies have headquarters in these regions.

Speak To Analyst Before Buying This Premium Report:https://www.quincemarketinsights.com/request-toc-58594?utm_source=MR&utm_medium=Santosh

The Asia Pacific is estimated to be one of the fastest-growing markets for cryptocurrency market. Major countries in the Asia Pacific region are China, Japan, South Korea, India, and Australia. These economies in the APAC region are major contributors in the ICT, electronics & semiconductor sector. In addition to this, government initiatives to promote technological advancement in this region are also one of the key factors to the growth of cryptocurrency market. The Middle East and rest of the World are estimated to be emerging regions for cryptocurrency market.

By Application:RemittanceTradingE-commerceRetailPaymentOthers

By Process:TransactionMining

By Offering:HardwareGPUASICFPGAWalletSoftwareOthers

By Region:North AmericaBy Country (US, Canada, Mexico)By ApplicationBy ProcessBy Offering

Western EuropeBy Country (Germany, UK, France, Italy, Spain, Rest of Europe)By ApplicationBy ProcessBy Offering

Eastern EuropeBy Country (Russia, Turkey, Rest of Eastern Europe)By ApplicationBy ProcessBy Offering

Asia PacificBy Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)By ApplicationBy ProcessBy Offering

Middle EastBy Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)By ApplicationBy ProcessBy Offering

Rest of the WorldBy Region (South America, Africa)By ApplicationBy ProcessBy Offering

Companies:Bitmain, NVIDIA, Xilinx, Intel, Advanced Micro Devices, Ripple, Bitfury, Ethereum Foundation, CoinBase, BitGo, and Binance

Reasons to buy this report:Market size estimation of the cryptocurrency market on a regional and global basisThe unique research design for market size estimation and forecastsProfiling of the major companies operating in the market with key developmentsBroad scope to cover all the possible segments helping every stakeholder in the market

Customization:We provide customization of the study to meet the specific requirements:By segmentBy sub-segmentBy region/ country

Contact:Quince Market InsightsAjay D. (Knowledge Partner)Office No- A109Pune, Maharashtra 411028Phone: +91 706 672 4848 +1 208 405 2835 / +44 121 364 6144 /Email: [emailprotected]Web:www.quincemarketinsights.com

ABOUT US:QMI has the most comprehensive collection of market research products and services available on the web. We deliver reports from virtually all major publications and refresh our list regularly to provide you with immediate online access to the worlds most extensive and up-to-date archive of professional insights into global markets, companies, goods, and patterns.

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Latest News On The Cryptocurrency Market | Intel, CoinBase, BitGo, and Binance - Market Research Publicist

Trumps Former Sanctions Chief Joins Bitcoin Investigation Firm Advisory Board As Part Of Expanded $49 Million Investment – Forbes

Sigal Mandelker, then-U.S. Treasury undersecretary for terrorism and financial intelligence, speaks ... [+] during a 2018 conference on cyber law enforcement at the Department of Justice in Washington, D.C. The U.S. Justice Department charged nine Iranian citizens with hacking hundreds of companies and academic institutions to steal more than $3.4 billion in trade secrets and other data on behalf of the Islamic Revolutionary Guard Corps.

U.S. President Donald Trumps former Treasury under secretary for terrorism and financial intelligence, Sigal Mandelker, has revealed her first project since leaving Trumps Treasury and joining venture firm Ribbit Capital earlier this year. In addition to joining the expanded $49 million Series B in cryptocurrency investigation startup Chainalysis, Mandelker will work on the startups board of advisors.

Mandelkers firm and actor-turned investor Ashton Kutchers Sound Ventures participated in a $13 million extension to the previously announced Series B, as part of a larger push at the startup to deepen its government relationships and focus on using transactions paid for in bitcoin and other cryptocurrencies to track human rights abuses and other illicit activity. Cryptocurrency use for illicit purposes more than doubled to $11.5 billion in 2019, still only accounting for little more than 1% of the total transactions.

While the investment is doubly-notable in that it is both Mandelkers first public work since leaving the Treasury Department, and it is in a company that works with bitcoin, ethereum, XRP and 96 other cryptocurrencies, it is also notable for the continuation of an increasingly clear trend of influential regulators joining the cryptocurrency companies they once oversaw. Former deputy assistant to U.S. President George W. Bush, Juan Zarate, joined another Ribbit portfolio company, Coinbases advisory board in 2014; former chairman of the influential New York Department of Financial Services PNC , Ben Lawsky joined Stone Ridge Asset Management LLC, a $15 billion advisor with ties to multiple bitcoin funds in 2017; and most recently the law firm of the former chairman of the U.S. Commodity Futures Trading Commission, Chris Giancarlo, was hired by Ripple this year.

As part of the investment, which values the company at less than $1 billion, Mandelker, 48, will meet with the Chainalysis team on an as-needed basis to share with them insights gleaned from her own past experience investigating crime that relies on blockchain, and to help them build out new partnerships in both the public and private sectors. The fact that they're building relationships, terrific relationships, both with financial institutions and with the government sector, including with law enforcement, is going to be really important for the future of this industry, says Mandelker.

Born in Chicago, in 1971, Mandelker earned a Bachelors Degree from the University of Michigan and a Juris Doctorate from the University of Pennsylvania Law School, before serving as a law clerk to Supreme Court Justice Clarence Thomas. After six years working at various government agencies, she moved to the private sector as a partner at law firm Proskauer Rose LLP.

Then, in March 2017, Trump appointed Mandelker as Treasury under secretary where she oversaw the U.S. Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control, (OFAC), the Office of Terrorist Financing and Financial Crimes, and the Treasurys Office of Intelligence and Analysis, which identifies and maps illicit transaction networks.

Mandelker had her first big success using digital currencies to trace illicit activities in 2008, when a Department of Justice team she led helped convict the directors of pre-blockchain digital currency company, E-Gold for their role helping launder funds used to buy child pornography and more. In September 2019, Mandelker made one of her biggest cryptocurrency investigation breaks with the announcement of sanctions against three hacker groups that helped the North Korean government steal and launder billions of dollars in cryptocurrency funds.

Mandelker says she first met Ribbit cofounder Micky Malka earlier this year. Malka sold his first company, a digital wallet called Lemon in 2013 for $46 million, using the funds to become an early investor in bitcoin startups, Coinbase, Robinhood and Xapo. The two hit it off, bonding in part over both having immediate family who survived the holocaust and their desire to fight injustice in the world, she says. She was officially brought onboard in April as a general partner.

In addition to her role helping build relationships as an advisor to Chainalysis, Mandelker will focus on a more full-time basis helping Ribbit identify new investment opportunities, answering regulatory questions for other portfolio companies, and looking for new ways to connect regulators with a wide range of financial technology, thinking through how to help build bridges between the fintech world and the regulator community, whether it's here or abroad, she says.

The New York-based company has now raised a total of about $66 million, from investors including Accel, Benchmark and Digital Currency Group, employs 158 people, and has 295 clients, including the Bank of Montreal and the U.S. Internal Revenue Service, which is managed by Mandelkers former employer, the U.S. Department of Treasury, through a different department.

The company isnt revealing its most recent revenue, though in 2018, it generated $8 million selling services to investigators looking into cryptocurrency transactions and companies looking to ensure they comply with anti-money-laundering and know your customer requirements, enough to land it a place on the Forbes Next Billion-Dollar Startups list. Though the company isnt revealing the terms of the investment, CEO Michael Gronager says they havent quite achieved that milestone yet. We'll work hard to get there pretty soon, he says.

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Trumps Former Sanctions Chief Joins Bitcoin Investigation Firm Advisory Board As Part Of Expanded $49 Million Investment - Forbes

Fast Pace of Cryptocurrency Adoption in Latin America May be due to Dramatic Rise in Smartphone Users, Bitso Executive Reveals – Crowdfund Insider

Bitso, one of Latin Americas largest digital asset exchanges, has reportedly reached 1 million users before its planned launch in Brazil.

Santiago Alvarado, director of international payments at Bitso, recently talked about how cryptocurrencies might help with settling cross-border transactions in Latin America. Alvarado, whose comments came during a Unitize panel (held on July 8, 2020), was joined by Craig DeWitt, the director of product at American Fintech firm Ripple, and Reed Cataldo from the Prysm Group.

Alvarado confirmed, during the discussion, that Bitso has surpassed 1 million users. Bitso has been offering crypto-related services in Mexico and Argentina. The company is now preparing to enter the Brazilian markets.

Launched in 2014, Bitso is notably the first digital currency exchange established in Mexico. Its also the largest cryptocurrency trading platform in the $1 trillion+ economy. Bitso is also reportedly the biggest crypto-asset exchange in Argentina after introducing services in February 2020.

Alvarado said that Bitso has been able to attract a large number of crypto traders in Argentina in a very short period of time. This may be attributed to the rising demand for affordable or more convenient methods for making cross-border payments and remittances.

Alvarado noted that Argentina has a very large and active crypto community. The country also has many freelancer workers, who might be accepting payments in cryptocurrencies which have become a popular alternative to fiat money in countries with high levels of inflation or too many restrictions on using the traditional financial system.

Alvarado also mentioned that the fast pace of digital currency adoption in Latin America may be due to the dramatic rise in the use of smartphones and the development of distribution infrastructure.

He revealed that around 50% to 60% of the people living in Latin America now have a bank account and around 80% are using mobile phones. He added that smartphones will play a big role in helping users with conveniently accessing modern financial services.

Crypto traders based in Argentina traded 92 Bitcoins (BTC), valued at around $850,000, via P2P exchange LocalBitcoins during the week ending on July 7, 2020. This is notably the highest BTC trading volume in the country since 2016.

Coinbase and Ripple have invested in Bitsos operations in order to help the exchange with expanding operations into Argentina and Brazil.

As reported in May 2020, Ripples (on-demand liquidity) ODL solutions volume in Mexico may have increased because of Ripples partnerships with Bitso and MoneyGram. Ripple introduced its ODL services in Mexico, in 2019, with the help of Bitso, which serves as its exchange partner.

In February 2020, Bitso revealed it had captured a little more than 2% of the remittance market from the United States to Mexico in 2019 and now aims to gain a 20% market share by the end of this year.

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Fast Pace of Cryptocurrency Adoption in Latin America May be due to Dramatic Rise in Smartphone Users, Bitso Executive Reveals - Crowdfund Insider

Exclusive: Who Will Win the Central Bank Cryptocurrency… – Coinspeaker

The rise in demand for digital payments during the COVID-19 pandemic further highlighted the importance of CBDCs and intensified the global race between central banks. The question is which one will win?

Central banks all over the world have been developing their own state-issued digital currencies. According to a recent survey by Central Banking, 65% of the participants stated that they had been actively researching digital currencies, revealing a race between central banks to develop national cryptocurrencies. In fact, Kai Sheffield, the head of Visas cryptocurrency division, considers central bank digital currency (CBDC) one of the most important trends for the future of money and the payments industry for the next decade.

Furthermore, the rise in demand for digital payments during the COVID-19 pandemic further highlighted the importance of CBDCs and intensified the global race between central banks.

Konstantin Anissimov, Executive Director at CEX.IO has shared his own view on this matter exclusively for Coinspeaker.

He said that from China and Japan to the European Union and the United States, numerous nations work on creating their state-issued digital currencies.

From all the 46 countries that consider the development of a CBDC, China seems to be in the leading position to create the first state-issued cryptocurrency. In April, the Peoples Bank of China (PBOC) was reportedly testing its CBDC, the digital yuan, in four cities.

Lets also not forget that the PBoC reported that it completed the back-end architecture development of the digital yuan last month, with draft laws ready to speed up the CBDCs implementation.

Anissimov stated:

Based on this information, we can safely say that China is leading the CBDC race, with even the Bank of America admitting the same.

He added that the Bank of Japan is also working on a central bank digital currency, announcing the start of the institutions experiments with a digital yen earlier this month.

While the two Asian nations state-issued digital currencies are on the way, the United States has yet to decide on it.

However, discussions on the matter have already started, with both the Congressional Task Force on Financial Technology and the U.S. Senate Committee on Banking, Housing, and Urban Affairs holding meetings about CBDCs last month.

The institution had confirmed its work on the digital euro last year with the development of two potential versions (wholesale and retail) of the CBDC.

Sweden and the United Kingdom are also actively putting in efforts into researching and implementing digital currencies.

Sweden had first revealed its intentions to run an e-krona pilot program back at the end of 2019, and began running the tests in February 2020.

In the UK, the Bank of England is debating on the potential advantages of issuing a central bank digital currency.

In March, the Bank issued a discussion paper on how a CBDC could be introduced and integrated into the existing markets and is welcoming input from local companies.

Anissimov says that as central bank digital currencies are still under development, we can only guess their actual effects on the cryptocurrency market.

However, despite that CBDCs feature centralized architectures, they will likely have a positive impact on decentralized cryptocurrencies.

He stated:

Currently, cryptocurrencies are still very new, and they have not yet reached mass adoption. However, as soon as CBDCs hit the market, billions of consumers will use digital wallets to send, receive, and store them. As a result, consumers will get more familiar with the technology, which will likely speed up the adoption of decentralized cryptocurrencies. Furthermore, consumers preferring control over their data and finances may choose decentralized cryptocurrencies over CBDCs.

Anissimov says that with government measures such as lockdowns and travel restrictions to cut the spread of the virus, citizens worldwide are increasingly staying at home and limiting their visits to physical stores and venues.

He explained:

In general, this has resulted in a shift from offline to online activities among consumers. And these significant changes in consumer trends have impacted multiple markets and industries.

He warns that as the coronaviruss first and direct consequence, stock prices have started to fall rapidly between late February and March.

While both the S&P 500 and the Dow Jones Industrial Average fell by over 35% within this period, the crypto market also experienced a flash crash, driving down Bitcoins price from $10,000 to $4,850 between February 23 and March 12.

However, Anissimov noted, the cryptocurrency market recovered quicker than traditional financial markets with a crypto bull run following the crash.

He also added cryptos have demonstrated a rather high rate of recovery compared to traditional assets.

Following the collapse, Bitcoin grew by more than 100%, while S&P 500 and Dow Jones showed a growth of only 20%. In the future, we expect stabilization of all markets with a subsequent correction, as the positive factors at the moment are very fragile.

He concludes that as a form of digital payments in an era where both consumers and merchants are turning away from cash transactions, the COVID-19 pandemic could increase the crypto adoption rate in the future.

And this provides one more reason for central banks to develop their own digital currencies to suit the changing consumer trends.

Similarly to cryptocurrencies and decentralized finance applications, when CBDCs enter the market, they may offer access to distributed finance solutions, providing new financial products and services for the public, concluded he.

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Exclusive: Who Will Win the Central Bank Cryptocurrency... - Coinspeaker

NetCents teams up with crypto fintech company to utilize US$1.4 billion credit facility – Proactive Investors USA & Canada

The facility allows NetCents to have money in the market over an extended period and pass along its profits to its client base

Technology Inc () (OTCQB:NTTCF) announced Friday that it has partnered with fintech firm Bison Digital LLC to use its flow of merchant orders as a short-term cryptocurrency portfolio.

Last month, the crypto payments company received an industry-leading US$1.4 billion credit facility to fund merchant settlements, thus making it easier to hold crypto positions. The facility allows NetCents to have money in the market over an extended period and profit from buying and selling cryptos profits that mean it can reduce fees to its client base.

Ultimately, NetCents believes the financing will curb any obstacles to unlimited processing and mitigate therisk associated with merchant payouts.

"I believe that our dedication to developing best in class solutions has facilitated the institutional relationships we are using to grow opportunities in the blockchain and crypto space, NetCents CEO Clayton Moore said in a statement. I look forward to scaling the business we have built through these strong partnerships."

Bison Digital is backed by BKCoin Capital LP, a digital assets quantitative hedge fund with a market-neutral long/short arbitrage strategy.

"In the short time we've been working together, NetCents has quickly become our most strategic partner for cryptocurrency advisory," BKCoin chief investment officer Kevin Kang added. "We look forward to continuing to develop this relationship as its volume continues to grow rapidly, leveraging our depth and experience in managing and trading multi-asset portfolios to drive a new profit center for all parties."

Bison Digital, a fintech company that delivers a venue for exchanges, payment processors and others looking for crypto liquidity, also believes in what NetCents brings to the table.

"As NetCents grows its already impressive merchant base, upcoming product offerings such as the NetCents Cryptocurrency Credit Card will drive growth in order flow that will supply the short-term crypto portfolio," Bison Digital managing partner Carlos Betancourt said. "We anticipate quickly outgrowing our $5 million daily credit facility and will look to expand."

Contact Andrew Kessel at [emailprotected]

Follow him on Twitter @andrew_kessel

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NetCents teams up with crypto fintech company to utilize US$1.4 billion credit facility - Proactive Investors USA & Canada

Cryptocurrency and Traditional Financial System: Things you should know – NameCoinNews

We are witnessing a lot of innovations in business segments across different industries nowadays. The new technologies like artificial intelligence and machine learning are changing the way we accomplish things today, and in the future, these are expected to become even more dominant. The financial technology domain has also got its own share of innovations. Cryptocurrency and blockchain technology are the most important inventions in the financial sector, and the automated cryptocurrency trading platform such aslibra-maximizers.com is revolutionizing the way people make money online. Thanks to these technologies, the new category of financial products and investments, such as digital assets, decentralized finance, and non-fungible tokens, are increasingly finding favor with the millennial.

The traditional financial system consists of banks and financial institutions as the main pillars of its operating mechanism. We all have at least one or probably more than one bank account and are using banking services like financial transactions, credit card payments, ATM withdrawals, among others. Banks are quite a powerful constituent of the overall economic scenario, and thanks to globalization, we have today a number of global banks operating in different parts of the world.

Compared to the conventional financial system, the new-age transactional mechanism underpinned by cryptocurrencies is just a decade-and-a-half old system. Cryptocurrencies are similar to fiat currency except for the fact that the former is digital while the latter is physical in form. Just like people deposit and keep physical money in banks, cryptocurrencies are stored and transacted with the help of blockchain technology.

Both traditional and cryptocurrency-based transactions can be used for a variety of purposes. For example, you can deposit the money, withdraw the money, send the money to somebody else, and online purchasing the product and services from different merchants. However, there is one fundamental difference that sets the traditional banking system apart from the cryptocurrency-based transactions. This difference is the level of control or centralization. Banks centrally control the traditional transaction system, whereas no such control is exhibited in the case of cryptocurrency. The whole system of cryptocurrency works on blockchain technology, which is a decentralized technology, signifying no third-party interference.

Unlike the bank, you cannot report any theft or anomaly in the cryptocurrency transaction. Cryptocurrency transactions are irreversible, and once completed, it cannot be turned back. This means you have to take the total responsibility of your financial transactions. On the flip side, cryptocurrency transactions are completely free from any third-party interference, which gives you complete freedom over your financial assets. Being digital in nature ensures that cryptocurrency transactions are processed much faster than the traditional payments and at a very low cost. This aspect is particularly relevant when you have to send money across borders. No Surprise, we are witnessing the steady rise in the adoption of cryptocurrency and blockchain technology even by the banks and other financial institutions while processing their overseas payments. You can access your digital coins at any point in time, and there is no need to worry about the typical issues that we encounter in traditional banking systems such as slow server speed, bank holidays, scheduled maintenance, etc.

There is an extra layer of safety and security offered by the traditional banking system in terms of providing a centralized control where incidents of theft, forgery, etc., can be reported. This makes the parking of your money in banks a more reassuring; however, the centralized control also comes with its own share of limitations. Some of the prominent ones include delay in payment processing, costly transfer process, and third-party interference.

Ultimately, the decision to choose between traditional and crypto-based systems depends on users priorities and their risk appetite. If you are willing to sacrifice control for the extra layer of security, then the traditional financial system makes more sense for you. However, if you want to experience new-age technology with altogether different kind of comfort and convenience, then cryptocurrency and the blockchain technology is the path you should go for.

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Cryptocurrency and Traditional Financial System: Things you should know - NameCoinNews

NYE Coin Is Helping Investors To Tap Into The Potential Of Stocks & Commodities Market Through The Power of Blockchain. – GlobeNewswire

London, England, July 11, 2020 (GLOBE NEWSWIRE) -- The concept of cryptocurrency trading is gaining a lot of attraction. Having said that, investors are also looking to harness the benefits of the traditional stocks and commodities market. In this context, the New York Exchange Coin (NYE Coin) aims to achieve financial integration between the classic stock and commodities market and the latest trend of cryptocurrency trading.

About NYE CoinAs one of the Orbit Network INC. latest projects, NYE Coin is a digital asset that harnesses blockchain technology and implements smart platforms to seamlessly integrate the traditional stocks & commodities market with the crypto trading world. It provides investors with the opportunity to utilize the benefits of traditional markets through a secure and transparent investment vehicle. The project is being developed by UK-based Blockchain Development INC. Limited.

It also uses secure payment integrations to ensure transparent investments and fast transactions through distributed processing. Moreover, being open-source, the NYE trading platform called Orbitex is community-driven and it follows an inclusive model to bring financial freedom.

What Makes NYE Unique?

Based on all of these factors and more, NYE Coin aims to be one of the most valuable digital assets to collect. To know more about the technical specifications of NYE, you can go through its whitepaper.

Summing Up

NYE Coin is arguably the first-ever cryptocurrency to attempt integration with a traditional model. The legacy trading vehicles like stocks and commodities offer their own set of advantages. On the other hand, crypto trading is also a profitable prospect. Through its robust, scalable, and secure blockchain, NYE seamlessly integrates the classic and modern modes of investment.

The project is currently in final implementation stages and has already garnered the attention of investors from across the world. Owing to its unique model, NYE also has the potential to drive crypto adoption in the mainstream.

Media DetailsCompany: Blockchain Development INC.Email: info@nyecoin.ioWebsite: https://www.nyecoin.io/

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NYE Coin Is Helping Investors To Tap Into The Potential Of Stocks & Commodities Market Through The Power of Blockchain. - GlobeNewswire

Study: Almost 90% Of Cryptocurrency Investors Worry About Their Funds If They Die – CryptoPotato

Nearly 90% of cryptocurrency investors worry about what will happen to their funds in case they pass away, a new study revealed. However, less than 25% of participants noted that they organized a comprehensive plan regarding their digital asset will.

The digital asset field differs from traditional finance in various forms. Apart from the decentralized nature which attracts numerous proponents and investors, leaving a detailed will is not as simple.

Due to features such as dedicated digital wallets and public digital addresses, and complicated words like private keys, leaving cryptocurrencies as an inheritance could be challenging for people unfamiliar with the matter.

UK-based cryptocurrency company Coincover estimated that nearly 4 million bitcoins had been lost after the owners death. To put this into a USD perspective, it amounts to almost $37 billion.

Consequently, researchers from the Cremation Institute decided to compile a study among over 1,100 digital asset investors regarding their views and plans for their cryptocurrency funds.

The findings overwhelmingly show that cryptocurrency investors have a real worry about their assets simply disappearing after they pass away. Overall, 89% of participants worry on some level about whether their crypto assets will be passed on to their loved ones.

Generation Z (aged 18-25) and Millennials (26-40), who are particularly fond of investing in digital assets, seem less bothered. Contrary, and somewhat expectedly, Baby Boomers (56-76) were most concern.

Although evidently worrying, most participants indicated a lack of precise planning regarding the future of their assets if they were to pass away. The report explained that this is especially true for younger generations. The findings reveal that a concerning 59% of Generation Z crypto holders have no plan, while 35% of Millennials reported no plan.

Contrary, 86% of Generation X and 94% of Baby Boomers claim they had set up a plan to ensure their family members receive the cryptocurrency wealth.

The paper also observed vital differences in the approach from cryptocurrency and traditional investors towards their assets. The Cremation Institute analyzed a 2020 Estate Planning study and found that 32% of normal investors already have a will this year. In contrast, only 7% of cryptocurrency holders have included their digital assets in their will.

Once again, this disparity increases for younger generations, as 18% of people within the 18-34 bracket have a will, while only approximately 3% of crypto-asset holders in this bracket document their plans in a will.

Interestingly, the research pointed out that women are significantly more likely than men to have a cryptocurrency contingency plan in place.

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Study: Almost 90% Of Cryptocurrency Investors Worry About Their Funds If They Die - CryptoPotato

The Profitability of Cryptocurrency Bitcoin Now and in the Future – Chiang Rai Times

Whether youre interested in cryptocurrency or not, youve probably already heard of Bitcoin. When the cryptocurrency first launched it was worth less than a dollar, but over the years that price has fluctuated reaching astronomical numbers that no one could have expected.

The high volatility Bitcoin carries has made it one of the hottest commodities someone can obtain right now, and while nothing is ever certain with something like Bitcoin, people cant help but invest in it and hope for the best.

Despite the risk that comes with acquiring Bitcoin, Bitcoin trading is now a popular way for people to try and secure their financial future. But why are so many people so sure that Bitcoin will bring them nothing but profit? To answer this question were going to need to look into how Bitcoin is faring now, and some of the predictions people have made for the future.

Some of the most interesting things about Bitcoin are the circumstances around its fluctuating price. Surprisingly enough, it seems that Bitcoins worth works in the opposite direction to fiat currencies. Bitcoins price often rises by quite a lot whenever tensions arise and people feel unsure about the political climate in the western world, and globally.

Another interesting thing you might not have known about Bitcoin is that its finite. While Bitcoin mining is still alive and well, the amount miners can procure is narrowing as time goes on. This is due to something called Bitcoin halving. Every four years the pace at which new Bitcoin is created gets cut in half which makes it harder for miners to get Bitcoin at the same rates as before. Like with most things, when Bitcoin becomes rarer, its only logical for its price to increase.

Anyone can get into Bitcoin trading today. Thanks to a slew of helpful Bitcoin trading apps and websites, even you can try your hand at Bitcoin trading. One way to potentially profit off of Bitcoin is by using AI automated trading apps. You can find a great example of this on https://www.bitcoinera.app. With the help of their smart trading robot, you can scour the market and make informed decisions on how and where to trade, and if that seems like too much work, you can let the app do it for you!

Bitcoin trading has gained a lot of traction in the past couple of years. While Bitcoin used to be a currency for the tech-savvy and those who wished to remain in the shadows, more and more average Joes are taking an interest in the popular cryptocurrency. The simple fact that interest in Bitcoin grew brought a lot of changes to the currencys worth, some good, some bad, but ultimately made the cryptocurrency a lot easier to access.

So how do all of these things mentioned before influence the profitability of Bitcoin in the future? Its simple and complicated at the same time. The latest Bitcoin halving event happened in May of 2020! While there might not have been a significant price drop or increase right after the event, a lot of people believe that the price of Bitcoin will keep rising little by little and end up reaching up to 13.000$ by the end of the year.

Another thing that has had quite an impact on the price of Bitcoin this year has been the unfortunate rise of the global pandemic. As we mentioned before, Bitcoin seems to rise whenever something like this tends to happen, but this time things didnt work out that way.

The price of Bitcoin dropped significantly during the pandemic which put a damper in the plans of many investors. While the price was still nothing to frown over, it was nowhere near what people might have expected.

Things are starting to look up though. With vaccines currently in the works, people are starting to get their hope back. This is good news on more than one front. Thanks to the words effort to prevent further spread with some valiant efforts, the price of Bitcoin has been getting back on track.

Predictions for Bitcoin for further on into the future are so insanely high that most people cant even fathom them. According to an onslaught of Bitcoin predictions for 2020 and beyond, theres nothing to worry about other than missing out on the chance to invest in Bitcoin sooner!

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The Profitability of Cryptocurrency Bitcoin Now and in the Future - Chiang Rai Times

New York Court Approves Investigation Into $10 Billion Cryptocurrency Created By A Presidential Candidate – Forbes

Brock Pierce during the Sime Awards at Epicenter on November 16, 2017 in Stockholm, Sweden. Pierce ... [+] is a serial cryptocurrency entrepreneur and recent U.S. Presidential candidate.

A New York appeals court today unleashed the states attorney general to investigate a number of businesses behind the tether cryptocurrency. While there are no formal accusations of fraud or other wrongdoing, the opinion, from an appellate division of New Yorks Supreme Court, gives teeth to subpoenas filed by the attorney general. The respondents, including both Tether Holdings Limited and the Bitfinex cryptocurrency exchange, had unsuccessfully fought the subpoenas at the trial level, before appealing.

The news comes at an awkward time for Brock Pierce, 39, the creator of the cryptocurrency, who this week announced he was running for President of the United States. A representative of the New York State Attorney General says he cannot confirm or deny that the investigation includes Pierce.

In 2014, Pierce, who is running as an independent on a pro-technology platform, created the tether currency as a way for cryptocurrency investors to quickly enter and exit a position. Unlike bitcoin and other cryptocurrencies, tether was meant to have a stable price, backed one-to-one by real U.S. dollars. But unlike traditional dollars, it can be moved instantly, while actually cashing out a crypto-asset using banks can take days, and many banks wont support the service at all.

By November 2018 questions about whether or not the cryptocurrency was actually backed dollar-for-dollar started to circulate and a predecessor of the state attorney general of New York, Letitia James, officially began the investigation. After turning up some promising leads however, Tether and Bitfinex filed an appeal resulting in a temporary halt of the investigation.

With the opinion order dated today, that investigation can resume. The result of what state attorney general James uncovers could impact any of countless owners of the tether cryptocurrency, with a total market value of $10 billion, and depending on whether or not what is found is good or bad for tether, pave the way for a flock of new, regulated, competitors.

Today's decision validates our office's ability to use its broad and comprehensive investigative powers to protect New Yorkers, said James in a statement provided to Forbes. Not even virtual currencies are above the law. We are pleased with the court's decision, and will continue to protect the interests of investors in the marketplace.

Officially, the case involves, BFXNA Inc. and BFXWW Inc., wholly-owned subsidiaries of iFinex, which operates the Bitfinex cryptocurrency exchange, and Tether Holdings Limited the holding company for Tether Limited, Tether Operations Limited, and Tether International Limited. Though Pierce is not mentioned in the opinion, he not only founded Tether in 2014, but is the co-founder of Block.One, behind the 11th largest cryptocurrency, EOS, valued at $900 million, and Blockchain Capital, one of the most influential venture capital firms in crypto.

Shortly after James started her investigation into the now-Presidential candidates business she issued three subpoenas for information going back to 2015, according to the opinion. During the investigation her team turned up information (not disclosed in the subpoena), that unable to get banking support, the respondents were forced to use a foreign entity to process customer deposits and withdrawals, according to the opinion.

Specifically, the attorney general previously alleged that Bitfinex had handed over $850 million to third-party payments processor Crypto Capital Corp., based in Panama, to handle customers-withdrawal requests. When the company failed to hold up its end of the bargain the respondents allegedly hid the losses through unspecified machinations, leading some to wonder if theyd simply started printing new tether cryptocurrency without any backing.

At around this time, Tether changed the wording on its site to show that instead of every tether being backed by a U.S. dollar, they were backed by Tether Holdings reserves, which include unspecified currency, cash equivalents, and other assets and receivables from loans made by Tether [Holdings] to third parties, according to the opinion. In turn, the respondents also successfully managed to get the investigation halted, temporarily though it may have been.

Grounds for the stay were rooted in questions surrounding an old New York law called the Martin Act that gives the state unusually broad investigatory powers even if malicious intent isnt proved and no one was actually injured. In certain cases, the act could give the attorney general the power to investigate as a way to avoid harm.

From the Supreme Courts opinion, authored by associate justice Ellen Gesmer and concurred by three other justices:

A statement from Tether is expected to be published on its site before the end of day.

Perhaps counter-intuitively, since the stay was issued in September 2019, tethers market cap exploded from $4.1 billion to $10 billion today, in spite of the doubts about whether the currency was actually backed by dollars, perhaps giving credibility to Tethers value proposition. Also over that time though, a newer stablecoin, USDC, co-created by cryptocurrency exchange Coinbase and crypto tech firm Circle, has risen to a market cap of $1 billion today and an even newer competitor, DAI, backed by a wide range of collateral has risen to $190 million.A loss to Tether would almost certainly be a win for the competition, and vice-versa.

Of particular interest to Pierce however is another trend that relates directly to his candidacy. Since Covid-19 a number of Congressional bills have called for the creation of a digital dollar similar to tether but sanctioned by the Federal Reserve. As James' investigation into Brocks creation picks up steam, questions about whether or not thats a conflict of interest will certainly have to be answered.

Editors note: This story has been updated to show that the investigation started prior to Letitia James assuming the attorney general position.

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New York Court Approves Investigation Into $10 Billion Cryptocurrency Created By A Presidential Candidate - Forbes

Bitcoin Adoption: $1 Million or More in BTC now Held by Over 13,000 Cryptocurrency Addresses – Crowdfund Insider

There are currently more than 13,000 Bitcoin addresses that are now holding at least $1 million worth of BTC, according to Glassnode data.

You would have to own around 108 BTC, at current prices, to become a US dollar millionaire (in Bitcoin). The number of Bitcoin addresses with balances of more than $1 million reached a record high during the historic crypto market bull run of 2017. In December of 2017, the BTC price had surged to nearly $20,000 and the market cap of all crypto-assets had surpassed the $800 billion mark by early January 2018.

Its worth noting that the digital currency market has not been able to reach these historic highs, or even get close to them, during the past few years. Despite Bitcoin (and the larger crypto market) prices not being able to break previous highs, Glassnode data confirms that the number of addresses holding at least 100 BTC have remained at about the same levels in recent years.

Its possible that many of these BTC addresses belong to large cryptocurrency exchanges and digital asset custodians, who have consistently maintained large amounts of Bitcoin (and other cryptos) in their reserves. Notably, there are more than 1 million Bitcoins which were most likely mined by Satoshi Nakamoto, the pseudonymous inventor of the flagship cryptocurrency. Satoshis coins have not moved during the past 10 years.

Although its possible to check how many BTC addresses hold at least $1 million worth of the digital currency, it cant really be determined just how many individuals are actually Bitcoin millionaires.

We would have to find out how many people or entities control the 13,290 BTC addresses with $1 million (or more) in Bitcoins, in order to estimate out how many Bitcoin millionaires there are. This may not be practical because many people dont publicly disclose their wealth.

As reported recently, UK Millennials with 25,000+ in investable assets are increasingly investing in cryptocurrencies, according to a recent survey.

Global P2P Bitcoin (BTC) exchange LocalBitcoins has reported over $29 million in annual revenue for 2019. But P2P Bitcoin marketplace Paxful recently overtook LocalBitcoins in BTC trading volume.

Last month, it was revealed that Grayscale Investments is buying 1,190 Bitcoins per day, and is on track to control 10% of the BTC supply by the next Bitcoin halving in 2024.

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Bitcoin Adoption: $1 Million or More in BTC now Held by Over 13,000 Cryptocurrency Addresses - Crowdfund Insider

What are Cryptocurrency Signals and their role in trading – TechGenyz

Theres more to trading cryptocurrency than the actual trading process it takes an efficient trading strategy. Beginners, and even some professionals, rely on outside help to make profitable trades.

This need for outside help is the reason behind crypto trade signals, which are designed to help people understand and master cryptocurrency trading. Here is more information aboutcryptosignalsand their role in trading.

It takes a degree of knowledge and a reliable strategy to make a profit from any kind of trading, including crypto trading. Not everyone has that knowledge, and not everyone can create those strategies.

Even basic strategy, such as alternating between short-term traders and long-term investments, doesnt apply to everyone. Theres still the matter of choosing the right coins to trade and which ones to avoid. This is where cryptocurrency trading signals come into play.

These signals are the result of plenty of analysis of the current market situation. Signals can help traders to make the right decision on a trade. Some traders can misunderstand the market when trying to come up with these predictions themselves. This is something best left in the hands of capable professionals.

Crypto signals are basically the cryptocurrency version of insider information and stock market tips. Providersanalyzethe market to predict the best trades to make. Please note, however, that these predictions rarely come from actual insider information on the market and are often the result of careful analysis.

Cryptocurrency signals are generally good practice and a reliable source of information. These signals can help you learn more about different coins and how they are performing, as well as offer advice on when to buy and sell coins for the most profit.

Perhaps the most significant role of cryptocurrency signals in trading is that they facilitate trades. Beginners can use signals to get started with their trades and learn more about trading. Signals offer valuable knowledge about cryptocurrencies and are a great learning resource.

By using signals, traders can determine the best way to manage their capital, how to manage to stop losses, how to set and change targets to reach the most significant profit potential, and more. Crypto signal channels are an excellent source of information that is otherwise difficult to come by.

Theres more to crypto signals than just that, though. Theres more to these signals than only the knowledge they offer. Traders can use these groups to maximize their profits. By finding the right signal providers and cooperating with them, beginners and experts alike can find the best buy and sell positions.

Crytposignals help traders avoid the problem of analysis paralysis. Analysis paralysis is when traders get so caught up in analysis and contemplation that they fail to act in time. It is one of the biggest problems preventing people from being successful. Signal providers do all of the work for you so you dont get caught in your own head, wondering if you should make the trade.

Crypto signals are easy to use and offer better results from trading in less time. They provide a level of flexibility and convenience for traders looking to take advantage of the limitless potential of the cryptocurrency trading market. Theres always some trade waiting to be made on this broad market, so having a way to get tips on the newest and biggest trades is worth your time.

Its worth investing in crypto signals, whether you are a new trader or have years of experience. These signals are sure to improve your trading activity. They offer new investors the chance to build their portfolio and make money as they learn the ropes of trading. They provide experienced traders with the ability to broaden their horizons and increase their profitability by branching out more and buying different currency pairs.

The long and short of it is that crypto trading signals offer users the chance to earn and learn all at the same time. So long as you choose the right provider, you are sure to make some profit by following their advice. Given that these providers offer clear, detailed information about their signals, youll also have the chance to learn from them and create a suitable system and strategy all your own.

Crypto signals are similar to the insider information people use on the stock exchange. These signals are based on research and analysis performed by people who have a deep understanding of the crypto market.

These recommendations generally involve buying or selling a particular crypto coin, making investments in new ICO projects, and taking part in a pump and dump strategy. Keep in mind that not all signal providers are created equal. Put a little due diligence into finding a good provider, so you dont lose more money than you make.

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What are Cryptocurrency Signals and their role in trading - TechGenyz

What Challenges Affect the Cost of Running a Cryptocurrency Exchange – Cointelegraph

Running a cryptocurrency exchange comes with a lot of considerations. What are the regulations in the country you operate in? Do you have sufficient liquidity? How will you handle security? Adhering to all of these requirements leads to excessive costs involved with setting up and operating these platforms, which means that a high price is often required to get a coin listed on them. This only makes it that much harder for new assets to find a market.

Depending on where you are in the world, the regulations concerning cryptocurrency can be anywhere from strict to completely absent, with changes often coming swiftly after long periods of silence. While local rules can vary greatly, many governments have been moving toward stronger Anti-Money Laundering laws, such as the European Unions 5th Anti-Money Laundering Directive, which is currently forcing some firms in the EU to rethink their location.

In the United States, Representative Paul Gosar, a Republican from Arizona, introduced the Crypto-Currency Act of 2020, which would see unique definitions and oversight of crypto commodities, cryptocurrencies and crypto securities. Moreover, South Korea just passed a law requiring cryptocurrency exchanges to partner with banks to enforce AML policies. Meanwhile, the Reserve Bank of India recently lifted a ban on cryptocurrency that had only been enacted in April of 2018.

The point here is that regulations are subject to change based on geopolitical location and can also quickly evolve within just one jurisdiction. This can be costly to mitigate for exchanges. Paying for professional help just to understand the latest laws can add up, as can employing the teams necessary to collect and verify AML documentation from customers. However, failing to do so could lead to expensive fines or even to the platform being shut down. Unfortunately, these regulations are rarely seen as optional once they are decided upon.

Regulations arent the only obstacles for new exchanges. Issues can arise just in the act of setting up an exchange. There are myriad facets to think about, and all of them can be complex and expensive. Designing an interface, programming the matching engine, integrating AML practices, and working with local banks are just a handful of the concerns a team setting up a new exchange would need to address. All of these would also need a fair amount of time just to be implemented. Then, there is interacting with multiple blockchains in real time, security systems, and the sheer cost of storing and maintaining servers. The amount of time needed just to find quality programmers, build the codebase and debug it can easily take a year or longer if a team is starting from scratch.

Even once that has all been navigated, and the exchange is live, there will still be ongoing and expensive issues to contend with. Take liquidity, for example, which can be a major problem for smaller exchanges as well as smaller markets. This refers to the small number of buyers and sellers available to give traders confidence that they can make the trades they want when they want. Without this, traders will often miss out on opportunities because they cannot enter or exit a position in time, which will be frustrating and hurt business.

In other words, exchanges want to bring in as much traffic as possible and to curate a user experience that pleases everyone. Here, things like security and customer service are front and center. Clients want to know that the exchange is safe from both outside hackers and inside operators and that funds are always available where the exchange says they will be. Inevitably, there will be some mistakes or technical issues. This is why it is important to have support teams to address upset customers, as well as others to fix issues with the platform. Having the capability to respond to all of these matters doesnt come cheap, but without this, a new platform will surely fail.

In addition to the aforementioned issues, it can take a significant amount of capital to open and operate a cryptocurrency exchange. This can lead to platforms having large fees attached to listing fresh assets, which harms new development teams. It also causes much of the market to be channeled through a handful of gatekeepers, namely, the biggest exchanges that have already established themselves.

This is clearly problematic for smaller projects that arent already available across multiple exchanges. If they cannot raise the capital needed to be listed on larger platforms, which can often be in the $100,000 range or higher, then nobody would be able to buy them. Of course, in that case, they wont grow, and potentially sound ideas may get wiped out due to lack of liquidity and exposure. Projects need a way to know that they can create their own market when necessary, but for the most part, the costs may be too steep to launch an exchange platform.

This is where white-label exchanges enter the picture. A white-label exchange uses specially designed software to launch a new platform fast and cheap. A team, for example, could get an exchange running in days instead of months, and for thousands of dollars as opposed to millions. These exchanges generally follow templates but are highly customizable and can negate the need for a company to develop its own proprietary software. Generally, the software should provide everything necessary to get up and running, as well as to be in compliance, though not all exchanges are identical. It is important to know about a few specific options that are available.

In general, exchanges can be centralized or decentralized, and cloud-based or do-it-yourself. A centralized exchange means you will be hosted on another companys servers, which are generally paired with cloud-based models. It could also be hosted on your own servers, but this will also be cost-prohibitive for most. While you wont have as much control, usually the company offering this will handle a great deal of the operations behind the scenes, as well as manage technical issues. Although they offset some costs, subscription fees help to keep the platform running, but the upfront costs of getting started should be relatively cheaper.

DIY exchanges can be either centralized or decentralized, but when it is decentralized, it runs across many servers, and not simply by a single third-party entity. The DIY part means that while the software may be set up to assist you, there will generally not be anyone else operating the exchange behind the scenes. These packages may also come with subscriptions that allow you to access a team of experts for support, but you will be making the final decisions. Such offerings may be less expensive on a monthly basis but can often still have larger, one-time fees associated with being allowed to run the software.

One solution that solves many of the issues faced by teams looking to create new exchanges is the HollaEx Kit, offered by bitHolla. The kit is open-source, free to install and offers the most comprehensive set of tools for anyone to create a new cryptocurrency exchange in minutes. It includes a desktop and mobile user interface, a trade matching engine, and an administrative control panel. You can add any trading pairs you choose, including your own newly created coins or tokens. It is also designed to keep you in compliance with most modern regulations by offering a system that collects relevant AML data from your customers.

The process of setting up a new platform is streamlined, and there are options for getting advanced help from bitHollas team of experts. This makes HollaEx Kit the most attractive option for development teams who need to create new markets for their coins but cant afford to pay the exorbitant fees that come with most exchanges. The bitHolla team has created a product that seeks to be the WordPress of building exchanges. In time, DIY software will likely become the gold standard and will be increasingly integrated into more websites, potentially weakening the draw of centralized services. This is what bitHollas HollaEx Kit is trying to achieve with this software package, which will hopefully make access to building the cryptocurrency market a bit easier for everyone.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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What Challenges Affect the Cost of Running a Cryptocurrency Exchange - Cointelegraph

Huobi Global Provides Insight on What Is Driving the Institutional Interest in Cryptocurrency Investment – PRNewswire

LONDON, July 10, 2020 /PRNewswire/ -- Huobi,has seen aninflux of traditional and institutional traders join their platform and take advantage of the Huobi Futures market place. As of May 6, Futures and Swap Trading Volume at Huobi topped $5.2 billion, with 24 hour perpetual swap trading volume hitting $2.2 billion this is off a product that was only launched in April.

What is most interesting to see is that the Institution trading percentage on Huobi futures is estimated to as high as 30 to 40 percent.

This year has been a defining one for a number of reasons. The world has faced a global pandemic, and the traditional markets and economies around the planet have had to try and deal with this unprecedented event. It has also been a year that looks set for greater interest in cryptocurrency investment.

Internally, the cryptocurrency space has been on the rise in the mainstream as regulations, governments, and traditional institutions have come to normalize and legitimize much of the space. But now, externally, there is financial uncertainty in the traditional space and many retail and institutional investors are casting their eyes to new avenues.

Peoplehave seen Paul Tudor Jonespraise Bitcoinfor its potential as a speculative asset, stating he invests a small percentage of his portfolio in the coin, but expects it to be the best performer. People have also seen Grayscale Bitcoin Trustbuying up a major portion of coins newly mined after the Bitcoin halving.

But, what is it that is drawing institutional interest into the cryptocurrency market other than the current internal and external factors surrounding it. Huobi spoke with Ciara Sun, VP of Huobi Global Markets, to find out more.

What makes the market grow?

"The price volatility and high liquidity of digital assets are especially attractive to investors," explained Ciara Sun. "The crypto market is unique in that it can fulfil both demands in liquidity and volatility.

"For example, traditional investments like real estate have price volatilities but lack of liquidity. Foreign exchange markets have high liquidity but lack price volatility. Investors see arbitrage opportunities in crypto as an emerging market. An above averagerange annual return can be seen as good performance in the traditional market, but is actually a quite mediocre return in the crypto derivative market."

Clearly, the crypto market is an exciting place to be for investors. It is renowned for its high volatility, but this is a double-edged sword. For people who know how to trade well, and be safe, volatility is indicative of opportunity.

But, there is also the opportunity to use crypto to be safe and to avoid risky situations.

"Additionally, digital assets can offer investors a way to hedge risk against government intervention. Traditional assets are directly influenced by monetary policies and economic measures like quantitative easing, but digital assets are decoupled from the acts of any one nation or governing body. At a time when governments around the world are printing currency to stabilize their economies, digital assets can be one way to hedge against inflation," Ciara Sun added.

"On Huobi, we have seen a 3-4X growth in institutional trading on derivative markets since early last year. Institutional clients now account for 40% of our trading volume. Our growth in Russia is especially pleasing."

"Generally speaking, whether for institutional or individual traders, they want to choose a trading platform with good liquidity and market capitalization. Huobi manages 5% of crypto assets in the market and we are ranked the number 1 in liquidity by Coinmarketcap.

A reliable platform

Part of the growth in interest in the cryptocurrency space from institutional investors is also part of the growth of cryptocurrency providers. The expansion of CME and Bakkt is one side of it, but many institutions are coming to places like Huobi because of the professional platform provided.

Contact: Hailan - [emailprotected]

SOURCE Huobi Global

http://huobi.com

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Huobi Global Provides Insight on What Is Driving the Institutional Interest in Cryptocurrency Investment - PRNewswire

Cryptocurrency And Blockchain Technology Market size Reap Excessive Revenues size COVID-19 2022 – Kentucky Journal 24

Overview:

Cryptocurrencyis a digital currency that utilizes cryptography techniques to make the transactions secure and to limit the creation of additional units of currency. Cryptocurrency is decentralized and there is no third-party/central body/governing body involved in producing new currency, verifying transactions, and protecting the currency supply. The blockchain acts as a ledger that shows the transaction activities between the peers. Cryptocurrency opts as a future revenue stream in the digital finance world. Furthermore, cryptocurrency is not bound by any rules or regulations of any specific government or exchange rates, interest rates, and country to country transaction fee, which makes international transactions faster. The prime drivers of the cryptocurrency market include proper security, authentication and ease of transactions. The Cryptocurrency and Blockchain technology allows the users to send exactly what they want without involvement of third party.Globally, more than 70% of the mobile phone users prefer transactions over their phones, which is one of the major drivers for the cryptocurrency market growth.

Request for Report Sample:https://www.trendsmarketresearch.com/report/sample/9796

Market Analysis:

The Worldwide Crypto-currency and Blockchain Technology Market is estimated to witness a CAGR of 35.2% during the forecast period 20162022. The crypto-currency market is analyzed based on two segments verticals and regions. The increasing online transaction, less transaction fees, easy and faster transaction, changing consumer and business landscape have led the demand for the market growth.

Regional Analysis:

The regions covered in the report are Americas, Europe, Asia Pacific and Middle East & Africa; along with the analysis of major countries in each region. The Americas is set to be the leading region for the cryptocurrency market growth followed by Europe. The Asia Pacific and MEA are set to be the emerging regions. India is set to be the most attractive destination and in Africa, the popularity and the usage of various cryptocurrencies are expected to increase in the coming years. The MEA market revenue is expected to reach $3.02 billion by 2022. The major countries covered in this report are the US, Canada, Argentina, the UK, Germany, Italy, France, Poland, China, Japan, Singapore, Vietnam, GCC Countries, Africa and Others.

Vertical Analysis:

Day-to-day, the consumers demands are changing and they are looking for the best and less time-consuming services to make their life easier. With these changes, the industry players have started moving towards the online business services and are adopting mobile based technology in their business units to reach their customer demands. In the current market scenario, the rise of online transactions has led the demand for the cryptocurrency and blockchain technology market. The major verticals covered are BFSI, retail, media & entertainment, gaming industry, healthcare, travel & tourism, transportation & logistics and education. Globally, the industry players are showing interest towards the blockchain and crypto-currency acceptance and making a partnership and discussing with value chain players in order to understand the benefits of blockchain technology. Additionally, few of the verticals have already started the acceptance of crypto-currencies (e.g. Bitcoin) as a payment option. Especially, the retail industry is set to be the leading vertical after BFSI for the crypto-currencies acceptance and the retail market revenue is expected to reach $10,447.2 million by 2022.

Key Players:

Zebpay, Coinsecure, Coinbase, Bitstamp Ltd., Litecoin, Poloniex Inc., Bitfury Group Limited, Unocoin, Ripple, Bitfinex, Global Area Holding Inc., BTL Group Ltd., Digital Limited, IBM Corp., Microsoft Corp. and other predominate and niche players.

Competitive Analysis:

In the current market scenario, the crypto-currency and blockchain technology market is at a nascent stage. But, a lot of new players are entering the market as it holds huge business opportunities. Especially, new start-ups are coming with new products/services in the market and they are expecting to see a double-digit growth in the upcoming years. In this space, venture funding in this market is expected to grow and collaborations, merger & acquisition activities are expected to continue.

Benefits:

The report provides complete details about the usage and adoption rate of crypto-currency and blockchain technology in various industry verticals and regions. With that, key stakeholders can know about the major trends, drivers, investments, vertical players initiatives, government initiatives towards the crypto-currency market adoption in the upcoming years. In other end, the report provides details about the major challenges that are going to impact on the market growth. Furthermore, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals. In addition, each vertical provides the key reason for the crypto-currency adoption, key opportunities, and government bodies information. This will help the key stakeholders to analyze before investing or expanding the business in this market.

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Cryptocurrency And Blockchain Technology Market size Reap Excessive Revenues size COVID-19 2022 - Kentucky Journal 24

Kaspersky Fraud Prevention helps Indacoin halt fraudulent operations with cryptocurrency – CRN.in

One of cryptocurrencys main benefits is the ability to conduct trusted transactions swiftly. However, the anonymous and decentralized nature of these transfers can be leveraged by fraudsters to wash money or trick legitimate crypto investors. In order to keep their customers investments truly clean, exchange service Indacoin has adopted Kaspersky Fraud Prevent to halt this foul practice.

Many fraudsters launder funds from stolen cards or using leaked card details before they transfer them to their bank accounts and it is estimated that around three-quarters of laundered cryptocurrency in 2018 was washed with an exchange service. They are also able to manipulate crypto exchange users to transfer money into another account by impersonating security service members and using tools for remote access. As this software is legitimate, traditional security solutions may not be alerted to any risks and mark it as dangers. These cases not only put users investments at risk but also negatively impacts the reputation of exchange services.

It is critical to identify and block these damaging transactions, without affecting the speed of legitimate transfers of funds. The cryptocurrency exchange rate is known to be quite erratic. which means investors rely on their payments being processed very quickly.

Indacoin, a leading fiat-to-crypto exchange, provides a simplified verification process, which allows customers to use its partners services without any additional difficulties. To eliminate risks of the platform being misused, Indacoin has turned to the Kaspersky Fraud Prevention service. The Automated Fraud Analysis uncovers fraudulent transactions in real-time. It also can detect fraudster groups through global device reputation and extended fingerprinting analysis, so it is capable of detecting suspicious activity before the act of fraud has actually damaged the business.

As a result of Kaspersky Fraud Prevention being integrated into Indacoins antifraud system, its efficiencies rose by 38%. The most noticeable improvement was the ability to identify operations when operations were conducted on a clients computer or phone via remote access.

Anvar Sidorov, Director of Partnerships at Indacoin, provided his commentary: The crypto exchange has many unique features, but in general, we share the main risks of financial institutions: security of cards and payment information, as well as security of personal accounts and safety of clients funds. The implementation of Kaspersky Fraud Prevention helped to identify highly targeted fraud schemes, identify dishonest users with advanced precision and implement machine learning in the verification system.

We are delighted to be chosen by Indacoin, and it is always great to see a business take cybersecurity seriously. Fraudulent transactions are common on crypto exchange services and this has the potential to damage investor loyalty in this new sphere. By integrating Kaspersky Fraud Prevention with their exchange, Indacoin is positioning itself as a trusted partner for cryptocurrency investors in what is a highly competitive market, comments Claire Hatcher, Head of Business for Kaspersky Fraud Prevention.

If you have an interesting article / experience / case study to share, please get in touch with us at editors@expresscomputeronline.com

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Kaspersky Fraud Prevention helps Indacoin halt fraudulent operations with cryptocurrency - CRN.in


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