True USD TUSD

$1.01
Market Cap $ 160.496 MM (#43)
24h Volume $ 40.684 MM
Chg. 24h: -0.37%
Algo. score 3.2/5  (#451)
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True USD News

The greatest current barrier to real-world crypto adoption i...

The greatest current barrier to real-world crypto adoption is price volatility. TrueUSD is changing that, enabling… https://t.co/NjTOVUwn00

7 hours ago

Crypto Custody and Wallet Company BitGo Exceeds Goal of Supporting 100 Coins by Year-End

Crypto custody firm BitGo announced it now supports more than 100 cryptocurrencies with its wallet and custody solutions. The company surpassed its goal of having 100 coins and tokens on the platform by year-end 2018. What appears to have brought the tally over the top was a group of five stablecoins added to the platform across “USD Coin (USDC), Gemini Dollar (GUSD), MakerDAO’s Dai (DAI), Paxos Standard Token (PAX), and TrustToken’s TrueUSD (TUSD).” BitGo adds coins in response to demand from institutional investors. BitGo CTO Ben Chan stated: "Our clients want to hold and trade a wide array of currencies - that’s why we set the goal of delivering support for 100 coins and tokens by the end of 2018." (GT)

7 hours ago

Binance Will Support USDC Trading Starting November 17

Binance — one of the most popular digital currency exchanges across the globe — has announced that it will be adding the fiat-collateralized stablecoin USD Coin (USDC) to its trading platform on November 17, 2018. USDC will be grouped into trading pairs with bitcoin and Binance’s own token, BNB.The company made the announcement on its official blog, making particular note of the auditing process USDC undergoes to prove that each coin is backed 1:1 with the USD.“For increased transparency, USDC has engaged a top-ranking auditing firm to release monthly balance attestations of the corresponding USDC and USD balances held/issued,” the post reads.With this support, USDC will become the third stablecoin to see a listing from Binance, the first two being Tether (USDT) and TrueUSD (TUSD), respectively. Buzz surrounding stablecoins has grown exponentially this year. Typically tied to fiat currencies such as USD or the euro, stable currencies are designed to lessen the effects of volatility often witnessed in standard crypto assets like bitcoin and ether.Binance is the world’s largest digital currency exchange, boasting a daily trading volume of roughly $500 million. That’s about $460 million more than Coinbase, which was among the first cryptocurrency trading platforms to show support for USD Coin last month. The coin is a product of Coinbase’s and Circle Internet Ltd.’s joint efforts, and it was developed as a part of the Centre blockchain framework. Prior, USDC began trading on the Circle-owned Poloniex exchange in September of 2018. In a recent interview with TheStreet, CEO and founder of Binance Changpeng Zhao discussed his company’s success and said he’s aiming to be much more than just an exchange. “We are building an ecosystem,” he comments. “We want to be the infrastructure services provider for the blockchain space, so we have several different initiatives. Most of them are still quite small, including the exchange. I think if you compare us to traditional [market] exchanges, we are still quite small ... but right now, our ecosystem is made up of the exchange, a wallet, labs, charity, info, an academy and more. We hope some of them will become the infrastructure for the industry.” This article originally appeared on Bitcoin Magazine.

9 hours ago

Bitcoin Technical Analysis: Bitcoin Cash Civil War Drives BTC to a 1-Year Low

Holy mackerel! Out of the blue, Bitcoin dropped to a new 12-month low with little notice. Anyone hoping for a Santa Claus rally had better drop to their knees and start the Hail Marys. Market Overview Today Bitcoin (BTC) 00 got nuked. In fact, the entire cryptocurrency market took a direct hit from a 50 megaton hydrogen bomb — and it looks like it’ll take a while for the smoke to clear. Novogratz was wrong, Tom Lee was wrong, everyone who thought $6,000 was the bottom was wrong. Analysts will probably spend the rest of the week attempting to determine the sources responsible for the turmoil. Currently, the most digestible explanations suggest that the current sell-off was kicked off by a combination of $6,000 representing a stop loss trigger, as well as the current Bitcoin Cash hard fork exerting pressure on an already fragile Bitcoin price. Today’s sharp correction took Bitcoin to a 12-month low and the market cap has now dropped below $100 billion for the first time since November 2017. The total cryptocurrency market cap also dropped below $200 million for the first time this year. Weekly Chart The weekly chart broke bearish after a lengthy series of sideways trading. Any oversold bounce under $6,540 is just a lower high, meaning a nearly 15% bounce is needed to restore BTC 00 back to where it was yesterday. Fairly unlikely given the last 4 - 6 months of trading. Although, as mentioned yesterday with the upcoming Bitcoin Cash hard fork, ANYTHING could happen. The MACD made a bearish cross, and the RSI has also broken from its persistent flatline and now dips toward oversold territory. A number of investors and analysts are attributing the current volatility to the BCH fork — but it should be noted that Bitcoin frequently dipped below $6,200 and $6,100 and BTC’s inability to overcome overhead resistances highlights an underlying weakness. So while surprising, today’s dip below $6,000 seemed inevitable. $4,500 and $3,000 are the next supports to watch and the market and its multitude of analysts will decide which prices in between this range will function as psychological supports and resistances. 4-Hour Chart There’s not too much to say here that hasn’t already been said. The lack of resistances below the $6,200 - $6,100 zone allowed BTC to drop like a blade through butter, and BTC price is now lower than it was on November 12 of 2017. Traders might think twice about playing oversold bounces as bears are clearly in control and the current downtrend is still young. The RSI, Stoch, and MACD could easily become extremely oversold and given that a family feud over BCH might be fuelling the entire market downturn, analysis of charts may provide limited value for time being. The wisest thing to do might be to watch from the sidelines and enjoy the free BCH-SV coins that will be earned by BCH holders. Alternatively, savvier traders might take note of the spread between USD and stablecoin (USDT, Paxos, TrueUSD) or the $300 Bitcoin 00 premium that exists between Bitfinex and Coinbase. Bon Arbitrage, Mes Amis! [Disclaimer: The views expressed in this article are not intended as investment advice. Market data is provided by Bitfinex. The charts for analysis are provided by TradingView.] Why do you think Bitcoin dropped 15%? Share your thoughts below! Images courtesy of Shutterstock, Trading View. Market data sourced from Bitfinex. The post Bitcoin Technical Analysis: Bitcoin Cash Civil War Drives BTC to a 1-Year Low appeared first on Bitcoinist.com.

10 hours ago

Stablecoins Fetch a Premium as BTC Hits Year Low

Officially, Wednesday, Nov. 14 will go down as the worst trading day of the year, as BTC sunk to record lows. Unofficially, there were still green shoots to be found if you knew where to look — mostly to the stablecoin sector. These dollar-pegged assets, normally so resistant to volatility, have been trading at a premium as investors seek sanctuary from the storm. Also read: Preparing for the Looming Bitcoin Cash Fork Nov. 14: Bad Day for Cryptocurrency - Good Day for Stablecoins? On a day when the the market turns red, any crypto-asset that can produce a profit is generally hailed. But when that asset is a stablecoin whose primary directive is to hold fast, it’s hard to know what to make of things. As the price of BTC reached its lowest point since Oct. 24, 2017 — bringing the rest of the market down with it — the only winners were stablecoins. As demand for these pegged assets intensified, the charts for many of them began to to resemble a classic altcoin pump. TUSD/BTC on Binance On Binance, trueusd (TUSD) reached $1.07, with paxos (PAX) not far behind at $1.05. The two coins were the biggest gainers out of all 158 assets on Binance, up almost 15 percent, while most of the market nursed deep double-digit losses. TUSD was the sixth-most popular asset on Binance on Nov. 14, with volume of 2,650 BTC. On other cryptocurrency exchanges, it was a similar story, with the Gemini dollar (GUSD) passing $1.03. TUSD, on the right, appears as the largest green square on the grid. The Tether Premium One pattern that has emerged during times of deep market losses is for BTC to trade at a premium on tether-based exchanges. This so-called “risk premium,” attributed to the mistrust some traders have in tether (USDT), even during times of extreme volatility, sees BTC trade for as much as $300 more per coin than on exchanges that aren’t wholly reliant on USDT. Tether’s relative volatility over the past month, slipping from its dollar peg to as low as $0.88 at one point, has prompted traders to seek out ways to profit from flipping USDT. A guide to trading tether, published today, advised: It’s an important cryptocurrency to understand as it facilitates trading and access to some of the most liquid currency pairs in the crypto markets ... It’s also an important linkage between different exchanges, allowing for arbitrages between fiat and non-fiat exchanges more efficiently due to its relatively stable price. Most dollar-pegged stablecoins were trading at over $1 at the time of writing, but there have been a couple of exceptions. Bitusd, which is only tradable on the Openledger DEX, flash-crashed to $0.83 earlier today, and was sitting at $0.97 prior to publication. Dai, meanwhile, was trading at just under a dollar, having gone as low as $0.97. For the more liquid stablecoins, however, which boast a significantly larger market cap than the likes of dai, today’s buying pressure has created a premium. While most traders are closely eyeing the BTC and BCH tickers, they may as well be watching a stablecoin such as TUSD or GUSD. When the stablecoin spike finally flattens out, the worst should be over. Do you think BTC will plunge lower still or is this the bottom for 2018? Let us know in the comments section below. Images courtesy of Shutterstock and Coin360.io. Need to calculate your bitcoin holdings? Check our tools section. The post Stablecoins Fetch a Premium as BTC Hits Year Low appeared first on Bitcoin News.

a day ago

Crypto market crashes ahead of Black Friday 2018

On November 14th 2018, the entire crypto market began to bleed. While some might correlate this event with the upcoming BCH hard fork and speculation that Craig S. Wright is an angry Satoshi who uses #fullbillionairemode to destroy his creation like an Old Testament deity, it’s most likely not the case. There is so much more to this $200 billion market than a Bitcoin hard fork which gave the big block advocates a revitalized sense of purpose. This time we’re witnessing a seemingly-coordinated dump which comes directly from the whales. Otherwise, how could all the top 100 cryptocurrencies that aren’t stable coins crash within minutes around 11 AM EST? We can probably look for reasons and point fingers all day, but perhaps it’s better to just point out some facts: stable coins like Tether (USDT), True USD (TUSD), and US Coin (USDC) have shown a negligible increase which hardly exceeds one percent, BCH’s loss is proportional to the BCHSV (Satoshi’s Vision) increase, and this year’s Black Friday is quickly approaching. Black Friday discounts too appealing to miss Now that we can see that the money withdrawn from the crypto market didn’t pour into altcoins, then it’s probably safe to assume that a series of fiat withdrawals have occurred. Though 2018 has been an incredible year for institutional adoption, the merchant side didn’t seem to catch up - and it’s mostly due to the volatility and ambiguous fiscal policies. Furthermore, we know that exchanges can take up to a week to process fiat withdrawals and Black Friday takes place in exactly nine days. If you’re a cautious consumer, then you must take into account processing delays and make sure that you get your dumb money just in time to buy some gifts for your loved ones. We’re still light years behind in terms of seeing major merchants accept Bitcoin, and confusing legislation and clueless lawmakers add to the problem, forcing even the most crypto-savvy of us to use fiat, at least for the time being. At least we know that spending government-backed currencies is a wise idea, as inflation constantly lowers their value. The Jimmy Song argument for spending with fiat. In October 2018, blockchain programmer and Bitcoin advocate Jimmy Song made a seemingly-outrageous comment in regards to spending. Using an economic rationale, he basically explained that it’s silver that we should be spending thanks to abundance and low chances to appreciate in the future, not gold. Therefore, it makes much more sense to spend with your credit card and benefit from the advantages such as no fees and bonus points, and only make Bitcoin payments when necessary. Ideally, you should hold onto your sound money and use lesser valuable liquid assets, like fiat. You can find out more about Jimmy Song’s rationale by watching Crypto Insider’s exclusive interview. How is this argument relevant? Well, it’s likely that some whales have run out of money and need to buy some gifts. Not all Black Friday stores accept BTC and the timing is just right to manipulate the market sentiment. If it all goes well, they can buy at a lower price whenever they decide to return. Maybe that their credit cards have reached the overdraft point and require some fresh fiat that can only be obtained by selling some BTC (which always brings the entire market down). Tone Vays might have been right too. Now let’s stop speculating on the BCH drama and Black Friday consumerist habits for a little bit and give credit to Tone Vays. Last month, he was laughed at for opening a short position around the $6500 price point for Bitcoin. At the time, some commentators speculated that he’s irrational because the price seemed stable around that range and it appeared to have reached the absolute bottom. As Promised, my FIRST & PERHAPS ONLY #Bitcoin Trade this Year.Short 1 $BTCUSD at 5x Leverage for March 2019 Expiry. Full account Liquidation at $7,650 (above last swing high) -> Take Profit at $5k, Lower Stop Loss at at $5,750.10% Off Affiliate Shill -> https://t.co/UjzUDnF68P pic.twitter.com/iYVZjRCKhe — Tone Vays [@Bitcoin] (@ToneVays) October 13, 2018 Well, the former S&P500 trader was right in his prediction and maybe he deserves some apologies. On the other hand, this drastic drop doesn’t look like something that graphs can predict and is more akin to good old market manipulation. Losing more than $500 off the value of Bitcoin in one day isn’t quite something that technical analysis highlights. Tone was right. — John Carvalho (@BitcoinErrorLog) November 14, 2018 Brief pumps in XRP and BCH have also reminded the entire community about the sweet taste of a bull run, and maybe that the market sentiment has been influenced by these increases. We wanted to believe so badly that the bear market would end soon that we were blinded by our faith and got rekt. So consider this an acknowledgment that Mr. Vays was the more rational actor in this story. In conclusion, whales need discounted Black Friday gifts too. This explanation mak

a day ago

MEDX Listed on Bittrex International

MediBloc announced on its blog that their ERC20 token, MEDX had been listed on Bittrex International. Bittrex International reportedly is based in Malta, which allows non-US citizens to join the platform and trade. There are more than 200 tokens on its platform, including BTC, USDT, TUSD, ETH, etc. Besides, MediBloc noted that 1 MEDX would be swapped to 0.5 mainnet coins at the time of their mainnet launch. (RL)

2 days ago

Tether Price Analysis: Stablecoin Tether [USDT] Fails to Remain Pegged to USD

The widely used and controversial stablecoin, USD Tether (USDT), is struggling to remain pegged to the USD. A few weeks ago, USDT crashed against the USD and reached a low of 0.85. Many exchanges price their assets against USDT, and this event resulted in the prices of these exchanges trading at a premium. USDT had since begun to recover but the price action of the last week shows the stablecoin once again starting to decline. The value of the coin currently trades around 0.97 against the USD, and there is much fear of a similar drop to the one we had seen when USDT crashed to 0.85. USDT Versus USD Daily Chart - Source: Tradingview.com The stablecoin is used for pairing against cryptocurrencies on many major exchanges such as Bitfinex and Binance. There has been speculation as to the reason for the drops. One theory was that large traders referred to as whales dumped significant amounts of USDT into the market believing that market prices are reaching a bottom and changing their exposure from USD to cryptocurrency. Another theory is that the company behind USDT do not have the USD to back up the USDT and this is the reason it is losing its value. There have been numerous competitors entering the market such as True USD (TUSD), The Gemini Dollar, and USD Circle. Going forward, we may see a competitor to USDT become the most widely used as USDT seems to be struggling to maintain its peg to the USD. Key Takeaways: USDT crashed against the USD to 0.85 weeks ago and had begun to recover. Over the past week, USDT has begun falling again and is currently trading at 0.97. It looks likely to fall further. Numerous competitors to USDT have launched, and a continued failure to remain pegged may result in a new stablecoin becoming the most widely used. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset. Tether Price Analysis: Stablecoin Tether [USDT] Fails to Remain Pegged to USD was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2 days ago

Estonia Grants B2BX Crypto Exchange Regulatory License to Operate Within the EU

B2BX cryptocurrency exchange announced on November 12 that it had acquired a license by the Estonian Financial Intelligence Unit (FIU), to operate as a fully regulated exchange for trading digital currencies. B2BX Users Will Benefit From Additional Services According to the press release, with this regulatory approval, B2BX becomes one of the first fully-regulated crypto exchanges in the EU. The company’s representatives chose to submit their application in Estonia because it is widely recognized as one of the friendliest countries of the European Union towards cryptocurrencies and new technologies. The license that will soon become effective, ensures that B2BX is compliant with the strict KYC and AML policies of the region. These provide users with enhanced transparency and significant financial comforts, such as increased automatic deposit and withdrawal daily limits and exchange and withdrawal facilities in fiat currencies via bank transfer and all major PSP providers. Arthur Azizov, CEO and Founder of B2Broker Group said: “We are delighted to have secured regulatory approval from Estonia, placing B2BX Exchange in the enviable position of being one of the first exchanges to achieve this accolade. I have long been a proponent of regulation which I believe will promote further the adoption of cryptocurrency usage and cryptocurrency trading. Our users will be able to benefit from an enhanced level of protection, safe in the knowledge that they are dealing with a world-leading, regulated cryptocurrency exchange.” The Exchange Strives to Bring Innovation and to Obtain Further Regulatory Approval B2BX is a subsidiary of the B2Broker Group, an exchange aggregator and liquidity provider for the crypto and foreign exchange (FX) industry. It offers a full-featured spot trading platform with adequate liquidity to support all kinds of investors, from single users to financial institutions. As B2BX focuses exclusively on liquid coins, all major cryptocurrencies are available for trading, including Bitcoin, Ethereum, Ripple, NEM, Litecoin, NEO, Monero, and Dash. B2BX remains updated with the latest trends in cryptocurrencies; it announced last month the addition of four stablecoins, TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD) and Paxos Standard Token (PAX), to its platform. It currently provides crypto-to-crypto trading, but crypto-to-fiat abilities will soon be added, as B2BX plans to extend its services by acquiring additional regulatory approval from other recognized jurisdictions. Estonia Grants B2BX Crypto Exchange Regulatory License to Operate Within the EU was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2 days ago

Earn 6.5% interest on Tether (USDT), TrueUSD (TUSD), Gemini ...

Earn 6.5% interest on Tether (USDT), TrueUSD (TUSD), Gemini Dollar (GUSD), USD Coin (USDC), Dai (DAI) and Paxos Sta… https://t.co/0pag1Rrmgm

3 days ago

How to Buy Cardano (ADA) In Europe - A Case Study About The Best Places to Buy Cardano in EU

Due to our past post about Cardano Price Predictions, we have a few people messaging us and asking us to help them buy Cardano in Europe. We understand that this might be the main concern of many interested buyers. There are a lot of people that aren’t buying Cardano from a safe exchange and they get scammed by people that steal all of their funds or get a much lower quantity of ADA than they should. The main purpose of this article is to educate the beginners and help them choose a respectable exchange to buy ADA. Ways to buy Cardano (ADA) in Europe There are many ways from which you can buy Cardano in Europe. We will create a list with all the best options here and analyze the potential outcome of every scenario. Case #1 - Buying Cardano (ADA) from a friend - This is a great way for a beginner to get started. To get help from a more experienced friend. But, not all of us have that friend and also if you always count on others you won’t be able to do it alone. We don’t recommend this method for beginners as its important to learn the best practices by applying those - not to count on someone else to do it for you. Case #2 - Buying Cardano (ADA) from a Cryptocurrency Exchange - This is actually a great way to get started. Buying Cardano from a cryptocurrency exchange will teach you the basics. You will learn how to create an account on a cryptocurrency exchange, how to fill out a KYC and how to create a market order to purchase ADA. We will talk more about this soon. Case #3 - Buying Cardano (ADA) from a Cryptocurrency buying website - Not the best way to start with ADA. These types of websites purchase ADA from exchanges and sell it to you. They’re basically brokers that are gaining a fee that you pay. We will talk more about the disadvantages of purchasing ADA from a service soon. Case #4 - Buying a cryptocurrency and exchanging it for Cardano (ADA)/ Already having a cryptocurrency and exchanging it for Cardano - Again, this is not a perfect scenario as you will lose a certain % of your investment from the exchange fees. Though, we need to keep this into consideration and analyze this too. If you however have a cryptocurrency and want to exchange it for Cardano - we’ll show you how soon. Buying Cardano(ADA) from a cryptocurrency exchange or a cryptocurrency buying website - What you should know & which cryptocurrency exchange you should use Firstly, every cryptocurrency exchange have a certain fee. Some of them have low ones that are under 1% and some of them pass the 2%. Its important to know this as you may ask why your portfolio lost 1% just after you bought the tokens even if the price stayed the same. And this is the answer. There are some exchanges that also have withdrawal fees - in case you want to keep your ADA in a more secure place such as a Trezor Wallet - which recently accepts Cardano (ADA) on its T Model. There are two well-known places in Europe that you can purchase ADA from: Coinmama Coinmama is one of the service website that lets you purchase cryptocurrency from it. It is not a cryptocurrency exchange, as you cannot sell cryptocurrencies using it - only buy. Formed in 2013 and active until 2018 - Coinmama operated in 188 countries worldwide and is also available in 24 US States. Coinmama offer investors a simple way to purchase: Bitcoin, Ethereum, Litecoin, Cardano, QTUM, Ethereum Classic, Bitcoin Cash and Ripple. To be able to purchase from Coinmama, you also need to verify your account by submitting a passport, national ID card or driver’s license card to its platform. This process usually takes less than one hour, in some times even less than 15 minutes - depending on how fast can you complete the steps. Coinmama Fees But Coinmama also have a big issue from an investor’s point of view - The Coinmama fees. The fees are way too high. To purchase from Coinmama with a credit card, you will be charged with a 5.00% processing fee. Also, they have a trading fee for 5.9%. This means that if you want to purchase 1,000 Euro worth of Cardano (ADA) from Coinmama, you will need a total of 1,105 Euro, plus another fee from your bank to exchange your currency to Euro- if you don’t already have it. This means that only by purchasing Cardano (ADA) from Coinmama, you will already be at a ~11% loss. If you will purchase exactly 1,000 Euroworth of Cardano (ADA) - you will receive 14,194.31 ADA which at the current market price have a value of 946.76 Euro. And here the processing fee its ignored. If we add that, we reach a 890 Euro value of ADA. The good part of it is that they don’t have a withdrawal fee - as Coinmama will send you the Cardano (ADA) directly to your wallet address. So, should you buy from Coinmama? We don’t believe so. There could be some places where you could get a better value and not lose ~11% of your hard earned money. Kraken Cryptocurrency Exchange Kraken Cryptocurrency Exchange is one of the most-known and oldest bitcoin exchange. As the time passed, Kraken added variou

5 days ago

Crypto Exchange Cobinhood Announced Support for Four New Stablecoins

Cryptocurrency exchange Cobinhood recently announced that it had added four new stablecoins to its platform. These coins include Gemini Dollar (GUSD), Paxos Standard Token (PAX), TrueUSD (TUSD) and MakerDao (DAI). The next-generation crypto exchange platform which provides zero-trading-fee based solutions to its users has added these tokens to reduce volatility in the markets. The addition of these fiat pegged coins will improve market stability. Why Don’t Standard Cryptocurrencies Stabilize the Markets? In a recent press release, Cobinhood noted that standard cryptocurrencies could be highly volatile, sometimes moving both ways by as much as 20 to 30 percent in just a few hours. This high volatility is curbed using stablecoins that are pegged to stable fiat currencies like the US Dollar. Some stablecoins are also connected to commodities like gold and oil. Cobinhood, founded in 2017, is aiming to help the crypto markets mature. Co-founder of the exchange, Wei-Ning Huang talked about the pain points of the market, saying: “The biggest flaw in the market right now is uncontrolled fluctuations in the value of many customary cryptocurrencies. We are increasing the presence of stablecoins on the COBINHOOD exchange, so the community understands that their voices have been heard and stability is being made possible. Our mission is to make the space more approachable for anyone who wants to participate.” The New Tokens Added to Cobinhood All new stablecoins added to Cobinhood are pegged to the US Dollar. The first amongst them is Gemini Dollar (GUSD), the coin launched recently by regulated cryptocurrency exchange Gemini is an ERC20 standard token and pegged 1:1 to the US Dollar. This means that the value of each Gemini Dollar will always be equal to $1, regardless of external factors. The coin is backed by the New York State Department of Financial Services (NYDFS) regulations. Paxos Standard Token (PAX) is another regulated token that is backed by NYDFS regulations as the Paxos Trust Company, the issuer of these coins is based in New York. It is also an ERC20 token with 1:1 pegging to the USD. TrueUSD is another ERC20 token that is 100 percent collateralized with the USD. The dollar reserves are held with professional trust firms and banks. MakerDao (DAI) on the other hand, is a stark opposite of GUSD and PAX. Though it is an ERC20 token with USD connection, it is not backed by any centralized authority. The company behind the project, Maker, uses a smart contract, incentivized external factors and CDPs to stabilize the value of the coin. All pairs will trade against USDT and BTC on the platform. Apart from DAI, which can be traded against ETH instead of against BTC. Crypto Exchange Cobinhood Announced Support for Four New Stablecoins was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

6 days ago

Daily Berminal Brief: Bitmain Plans to Benefit from the Bitcoin Cash Hard Fork and Bitcoin Drops Below $6,500

The State of The Market — November 9, 2018 BTC: $6,393.37 (-1.15%) ETH: $210.34 (-1.49%) XRP: $0.5049 (+0.14%) The overall cryptocurrency market has seen a pullback in prices following recent gains, as the total market cap has dropped more than $5 billion in the last 24-hours. The price of Bitcoin (BTC) has dropped by 1.15% and currently trades at $6,393.37 while Ethereum (ETH) has shed 1.49% and is trading at $210.34. XRP pulled back slightly, but still trades above $0.50. Currently, the total market cap is $212.9 billion. In other news, Bitmain is rushing to deploy 90,000 S9 Antminers ahead of the Bitcoin Cash hard fork on November 15 and executives from VanEck remain calm and confident about the prospects of the SEC approving a Bitcoin ETF. 1) The U.S. Securities and Exchange Commission (SEC) has filed charges against EtherDelta founder Zachary Coburn for operating an unregistered exchange. The decentralized exchange (DEX) allowed users to exchange Ethereum-based tokens without needing to register accounts or turn their private keys over to the exchange wallet. The SEC claims that EtherDelta illegally permitted users to trade tokens which are classified as “securities” by federal law. The SEC’s co-director of the Enforcement Division said, “EtherDelta had both the user interface and underlying functionality of an online national securities exchange.” EtherDelta’s failure to register with the SEC or qualify for an exemption meant the DEX was in breach of federal law. Coburn has agreed to pay a total of $388,000 in fines but has not admitted or denied the SEC’s findings. 2) Coinbase announced on Twitter that it is adding support for Basic Attention Token (BAT) to its iOS and Android mobile apps as well as Coinbase.com starting today. Earlier this month, the exchange added BAT to its professional trading platform Coinbase Pro, and support was widely expected to follow for the mobile apps, which is what today’s announcement was about. BAT is available to traders in most jurisdictions with the exception of New York. Coinbase recently restructured its listing process to accelerate the addition of more coins. 3) Cobinhood (COB), a cryptocurrency service platform and exchange that offers zero-fee trading, recently announced the addition of four stablecoins to its platform: the Gemini Dollar (GUSD), MakerDao (DAI), Paxos Standard Token (PAX), and TrueUSD (TUSD). The platform explained that each coin offered distinctly different characteristics to the overall crypto space, which is the reason for multiple stablecoins being added at the same time. There has been a flurry of stablecoins released in recent months, leading to the possibility that 2018 will be known as ‘the year of the stablecoin.’ (RS)

6 days ago

The Daily: Binance Launches Analysis Division, Cobinhood Adds 4 Stablecoins

In this edition of The Daily, we cover the launch of Binance Research, a new analysis division that will produce in-depth reports for customers of the leading cryptocurrency trading platform. We also look at Cobinhood’s decision to add several stablecoins to its platform and the reasoning behind the move. In addition, we focus on SWIFT’s denial of rumors that it has partnered with Ripple, as well as a plot of virtual land that was sold on Decentraland for a record amount of money. Also read: Security Experts Rank Exchanges by Safety, Malta Dominates Trade Binance Research Starts With Two Reports Binance, currently the largest digital asset exchange in terms of daily trading volume, has launched a new analysis division. Binance Research will focus on creating institutional-grade research reports, the trading platform said in an announcement on its website. Binance has referred to the service as a new pillar of its ecosystem and claims it’s going to bring more transparency, while also improving the quality of information that’s available in the cryptocurrency space. Binance Research has already produced two detailed reports. The first one is ­devoted to Loom Network, a solution for Ethereum that allows for scalable user-facing dapps and games. The second report covers Gochain, a scalable and decentralized blockchain that supports smart contracts and distributed applications. The research division’s next report will be about Pundi X, a company that has built a platform enabling cryptocurrency payments through POS terminals. This past summer, the cryptocurrency exchange also launched an educational portal called Binance Academy. The platform was announced as an open-access learning hub supported by the team of the company. Binance was established in China last year and has since expanded globally to become the leading trading platform in the crypto space. Cobinhood Announces Support for Stablecoins Cobinhood, a platform that exchanges cryptocurrencies without trading fees, has announced that it’s adding four stablecoins to its offerings. Starting Nov. 9, users will be able to trade gemini dollar (GUSD), makerdao (DAI), the paxos standard token (PAX) and trueusd (TUSD). In a press release, Cobinhood explained its decision to list the coins. It noted that each one of them has unique features, but said all of them are designed to ensure greater market stability, as regular cryptocurrencies can be particularly volatile. The Taiwanese company also explained that the newly added tokens will be available on its platform for deposits, withdrawals and trading. “We are increasing the presence of stablecoins on the Cobinhood exchange so the community understands that their voices have been heard and stability is being made possible,” said Wei-Ning Huang, co-founder of Cobinhood. “Our mission is to make the space more approachable for anyone who wants to participate.” SWIFT Denies Rumors of Partnership With Ripple SWIFT, the international consortium that operates a worldwide network enabling banks to transmit messages and financial transactions, has denied recent rumors about the integration of Ripplenet technologies as part of its next system upgrade. A spokesperson for SWIFT told Finance Magnates the changes had nothing to do with Ripple. The upcoming upgrade involves an add-on to SWIFT’s global payments innovation (GPI) system. The standard was introduced in January of last year in order to increase the operating speed of the payment network, which has been used in correspondent banking for decades. The upgrade was announced this past spring and is scheduled to be implemented on Nov. 18. Plot of Virtual Land Sold for $215,000 An investor recently purchased a 126-parcel plot of land on Decentraland for 2.7 million mana, the virtual reality platform’s native token. The acquisition, valued at roughly $215,000, sets a new record for Decentraland, which is owned by its users. The estate was purchased via the platform’s marketplace. It allows users to trade “LAND parcels,” which represent non-fungible digital assets maintained through a smart contract on the Ethereum network. The virtual reality project recently launched a new version of Agora, a platform that allows holders of mana tokens to vote on important matters. One of the first questions they are being asked concerns the time frame for the next land auction, when 9,000 unowned parcels of land will be made available to the community. What are your thoughts on today’s news tidbits? Tell us in the comments section. Images courtesy of Shutterstock. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post The Daily: Binance Launches Analysis Division, Cobinhood Adds 4 Stablecoins appeared first on Bitcoin

7 days ago

A flurry of Stablecoins find listing of COBINHOOD

The demand for stablecoins doesn’t seem to be ending as nearly all exchanges are adding them to take advantage of the stablecoin craze among its users. The recent addition to the list of exchanges is Cobinhood which has added four stablecoins to its platform. GUSD, DAI, PAX and TUSD now available on Cobinhood Cobinhood, a cryptocurrency service platform, and exchange, in order to satiate the growing demand of stablecoins among the users announced that it is adding four (4) stable coins on its exchange: the Gemini Dollar (GUSD), MakerDao (DAI), Paxos Standard Token (PAX) and TrueUSD (TUSD). THe exchange believes that each of these stablecoins has a unique set of features that achieve same end result: increased market stability and user flexibility. On this latest addition, the Co-Founder of Cobinhood, Wei-Ning Huang, was quoted saying “The biggest flaw in the market right now is uncontrolled fluctuations in the value of many customary cryptocurrencies. We are increasing the presence of stablecoins on the COBINHOOD exchange so the community understands that their voices have been heard and stability is being made possible. Our mission is to make the space more approachable for anyone who wants to participate.” Stablecoins have been the recent trend among the crypto enthusiasts apart from providing stability they also seem to be a bridge between the traditional financial world and the cryptoshpere. Over past month or so a lot of exchanges have added stablecoins. Last month Huobi also had announced it would list four U.S. dollar-pegged cryptocurrencies this week. In the announcement then, the Singapore-based exchange which currently has the fourth-largest by trading volume had said that it would open deposits and withdrawal for TrustToken’s TUSD, Circle’s USDC, and two regulator-approved stablecoins: the Gemini exchange’s GUSD and Paxos’ PAX, on Oct. 19. Another exchange, Liquid, which known to be a trading platform that bridges fiat and crypto, this week had added a couple of stablecoins. The exchange had announced that it has added multiple stablecoins including Gemini Dollar (GUSD) and Circle’s USDC. In early November Circle, in its official blog post, had said that not less than 12 exchanges have expressed their plans of joining the ecosystem for the incorporation of the USD coin. Some of the exchanges that were named in the blogpost were The exchanges are BitMart, Fcoin, Gatecoin, Hanbitco, Hotbit, SWIFT, OCP Capital, DDEX and Bit-Z. Others that had shown interest for USDC also included Nexo a crypto loans provider and crypto wallets providers BitKan and Tokenary Looking at the recent listings of Stablecoins one can definitely say their demand is at the peak now and if the inference of them being a bridge between the crypto world and traditional financial world is true, we can be sure that this money would soon be converted to cryptos. What is your view on this Stablecoin frenzy. Is it a fad or are these coins here to stay? Do let us know your views on the same. The post A flurry of Stablecoins find listing of COBINHOOD appeared first on Coingape.

7 days ago

Cobinhood Adds Four Stablecoins to Their Exchange

Cobinhood, the zero-fee cryptocurrency exchange, will be adding four new stablecoins today (Nov 9th) The coins are the Gemini Dollar (GUSD), MakerDao (DAI), Paxos Standard Token (PAX) and TrueUSD (TUSD).

7 days ago

Cobinhood Crypo Exchange Lists Four Stablecoins

Cobinhood (COB), a cryptocurrency service platform and exchange that offers zero-fee trading, recently announced the addition of four stablecoins to its platform: the Gemini Dollar (GUSD), MakerDao (DAI), Paxos Standard Token (PAX), and TrueUSD (TUSD). The platform explained that each coin offered distinctly different characteristics to the overall cryptospace, which is the reason for multiple stablecoins being added at the same time. There has been a flurry of stablecoins released in recent months, leading to the possibility that 2018 will be known as ‘the year of the stablecoin.’ (JF)

7 days ago

How to Buy Cardano (ADA) From Europe - A Case Study About The Best Places to Buy Cardano in EU

Due to our past post about Cardano Price Predictions, we have a few people messaging us and asking us to help them buy Cardano in Europe. We understand that this might be the main concern of many interested buyers. There are a lot of people that aren’t buying Cardano from a safe exchange and they get scammed by people that steal all of their funds or get a much lower quantity of ADA than they should. The main purpose of this article is to educate the beginners and help them choose a respectable exchange to buy ADA. Ways to buy Cardano (ADA) in Europe There are many ways from which you can buy Cardano in Europe. We will create a list with all the best options here and analyze the potential outcome of every scenario. Case #1 - Buying Cardano (ADA) from a friend - This is a great way for a beginner to get started. To get help from a more experienced friend. But, not all of us have that friend and also if you always count on others you won’t be able to do it alone. We don’t recommend this method for beginners as its important to learn the best practices by applying those - not to count on someone else to do it for you. Case #2 - Buying Cardano (ADA) from a Cryptocurrency Exchange - This is actually a great way to get started. Buying Cardano from a cryptocurrency exchange will teach you the basics. You will learn how to create an account on a cryptocurrency exchange, how to fill out a KYC and how to create a market order to purchase ADA. We will talk more about this soon. Case #3 - Buying Cardano (ADA) from a Cryptocurrency buying website - Not the best way to start with ADA. These types of websites purchase ADA from exchanges and sell it to you. They’re basically brokers that are gaining a fee that you pay. We will talk more about the disadvantages of purchasing ADA from a service soon. Case #4 - Buying a cryptocurrency and exchanging it for Cardano (ADA)/ Already having a cryptocurrency and exchanging it for Cardano - Again, this is not a perfect scenario as you will lose a certain % of your investment from the exchange fees. Though, we need to keep this into consideration and analyze this too. If you however have a cryptocurrency and want to exchange it for Cardano - we’ll show you how soon. Buying Cardano(ADA) from a cryptocurrency exchange or a cryptocurrency buying website - What you should know & which cryptocurrency exchange you should use Firstly, every cryptocurrency exchange have a certain fee. Some of them have low ones that are under 1% and some of them pass the 2%. Its important to know this as you may ask why your portfolio lost 1% just after you bought the tokens even if the price stayed the same. And this is the answer. There are some exchanges that also have withdrawal fees - in case you want to keep your ADA in a more secure place such as a Trezor Wallet - which recently accepts Cardano (ADA) on its T Model. There are two well-known places in Europe that you can purchase ADA from: Coinmama Coinmama is one of the service website that lets you purchase cryptocurrency from it. It is not a cryptocurrency exchange, as you cannot sell cryptocurrencies using it - only buy. Formed in 2013 and active until 2018 - Coinmama operated in 188 countries worldwide and is also available in 24 US States. Coinmama offer investors a simple way to purchase: Bitcoin, Ethereum, Litecoin, Cardano, QTUM, Ethereum Classic, Bitcoin Cash and Ripple. To be able to purchase from Coinmama, you also need to verify your account by submitting a passport, national ID card or driver’s license card to its platform. This process usually takes less than one hour, in some times even less than 15 minutes - depending on how fast can you complete the steps. Coinmama Fees But Coinmama also have a big issue from an investor’s point of view - The Coinmama fees. The fees are way too high. To purchase from Coinmama with a credit card, you will be charged with a 5.00% processing fee. Also, they have a trading fee for 5.9%. This means that if you want to purchase 1,000 Euro worth of Cardano (ADA) from Coinmama, you will need a total of 1,105 Euro, plus another fee from your bank to exchange your currency to Euro- if you don’t already have it. This means that only by purchasing Cardano (ADA) from Coinmama, you will already be at a ~11% loss. If you will purchase exactly 1,000 Euroworth of Cardano (ADA) - you will receive 14,194.31 ADA which at the current market price have a value of 946.76 Euro. And here the processing fee its ignored. If we add that, we reach a 890 Euro value of ADA. The good part of it is that they don’t have a withdrawal fee - as Coinmama will send you the Cardano (ADA) directly to your wallet address. So, should you buy from Coinmama? We don’t believe so. There could be some places where you could get a better value and not lose ~11% of your hard earned money. Kraken Cryptocurrency Exchange Kraken Cryptocurrency Exchange is one of the most-known and oldest bitcoin exchange. As the time passed, Kraken added variou

7 days ago

Huobi CEO and COO Meet the Winklevoss Twins to Discuss Global Synergy

The CEO of the Huobi Group, Leon Li went to meet the co-founders of Gemini exchange along with COO Robin Zhu. The meeting between the four on Wednesday was designed to talk about stablecoins, creating a flatter global economy and bridging the crypto communities of the west and east. Bridging the Gaps Leon noted that Huobi wants to bridge the gaps between the crypto spaces of China and the US. He noted: “There are a lot of good digital assets and products around the world, especially in America, and we want to bring them to China. We also plan to bring more awareness about Huobi’s digital assets and financial services in China to the world.” Leon also said that he would like to see further cooperation between Gemini and Huobi. Both the exchanges have previously collaborated with each other. For instance, the Huobi Group incorporated the Gemini Dollar (GUSD) to their exchange last month. The GUSD is a stablecoin pegged to the US dollar which was launched by the Gemini exchange recently. The stablecoin is one of the few currencies that are regulated and is backed by dollar reserves that the exchange maintains. GUSD will also be supported on the Huobi Wallet. What’s New at Huobi? Huobi also listed other stablecoins like Paxos Standard Token (PAX), True USD (TUSD) and USD Coin (USDC). All the stablecoins will now be a part of the HUSD. The comprehensive stablecoin solution by Huobi allows users to club all their stablecoin balances under one hood. This allows users to make deposits and withdrawals in any USD-pegged stablecoin of their choice. Leon and Robin said that they are impressed with the stability that the GUSD stablecoin has provided and said that it has many advantages. The participants of the meeting say that listing GUSD within the HUSD will allow millions of traders from Huobi Global and Huobi Cloud to use the Gemini stablecoin. The Winklevoss twins were both keen on discussing the global strategy at Huobi, especially in key markets like Japan and South Korea. Tyler and Cameron were also impressed with the Huobi Cloud platform. Huobi CEO and COO Meet the Winklevoss Twins to Discuss Global Synergy was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

8 days ago

What is Bitcoin backed ERC20 (WBTC)? How could it change the Bitcoin - Ethereum interaction?

TL;DR WBTC is a Bitcoin backed ERC20 token that combines the liquidity and public awareness of bitcoin with the developer ecosystem of Ethereum. WBTC could help boost the utility of Bitcoin by allowing it the be used in Dapps and decentralized exchanges The Ethereum network could benefit from now having a ‘2 token system’ where WBTC serves as the current token, and ETH serves as the network token The hype around innovations in the crypto space seems to come in waves. In 2017, we saw the rise of utility tokens and ICO’s. 2018 has seen the rise of security tokens and stable coins. Now as we head towards 2019, it looks like an innovation called ‘Wrapped Bitcoin’ (or WBTC) may start generating a lot of buzzes. What is WBTC? WBTC is a bitcoin backed ERC20 token. It takes the concept of a stable coin (a cryptocurrency that is backed to a ‘stable’ asset like the US dollar or some other fiat currency), and applies it to Bitcoin, allowing the value of the WBTC to be pegged 1-to-1 with BTC. The invention is being developed by Republican Protocol, Kyber network and crypto custodian BitGo and is set to launch in 2019. Its primary objective is to combine the liquidity and public awareness of bitcoin with the developer ecosystem of Ethereum. According to Republic Protocol CEO Taiyang Zhang, “The WBTC remains in circulation until the Bitcoin backing is withdrawn and the equivalent WBTC is burnt. This method is similar to how TUSD operates, except that WBTC has the benefit of the ease of transparency with all custodian funds being fully verifiable on-chain.” Loi Luu, Kyber networks CEO, views WBTC as a tool to help expand the usage of BTC into areas like exchanges, loans and token payments. The companies behind WBTC will be forming a Decentralized autonomous organization specifically for this project. This DAO will serve to perform on chain auditing of WBTC to make sure it is always backed at a 1-to-1 ratio with Bitcoin. Let’s explore the various use cases: Cross chain transactions One of the main features Republican Protocol is Atomic Swaps, which enable cryptocurrencies to be transacted across different Blockchains. WBTC opens the doors for atomic swaps to be used by merchants to exchange between BTC and WBTC. This essentially means being able to pay for things that are denominated in the ERC-20 token with Bitcoin, and vice versa. This innovation would boost the adoption of Bitcoin by creating utility for it across various Dapps. Furthermore, by using WBTC, it should become faster and cheaper for users to send Bitcoin than it would on the Bitcoin network, which can become quite expensive during times of high traffic. Using Bitcoin inside Dapps As hundreds of new Dapps continue to be released, it helps to be able to use a cryptocurrency that is pegged to Bitcoin to gain access to services on these Dapps. For example, a Dapp like Augur could have all predictions wagered in WBTC as opposed to ETH. Similarly, decentralized exchanges on Ethereum could have the WBTC token as the base currency that everything trades against. In both cases, it gives these applications access to the massive liquidity of Bitcoin, opening the door for larger investors to put their money in more ERC20 tokens and Dapps. ICO’s would also now be able to raise money in Bitcoin, since WBTC functions on the Ethereum network and can be incorporated into ICO smart contracts. There would be no need to choose between running a Bitcoin node, Ethereum node, or any other ERC-20 token node. Decentralized Bitcoin ETFs? The development of an ERC-20 token that is pegged to the price of Bitcoin opens up new possibilities for smart contract based investment vehicles. Investors could decide to purchase BTC by purchasing WBTC through a crypto fund. By holding WBTC, investors can use smart contracts to ensure things like monthly dividend payouts or customize their level of risk tolerance by automatically trading in an out (or between funds) based on their returns. Could WBTC replace ETH? One of the fascinating implications of this innovation is its potential to turn Ethereum into a ‘2 token network’. ETH has long been seen as a token used primarily for paying transaction fees, yet the popularity of Ethereum and function within ICO’s and Dapps has caused many also to perceive is as a traditional cryptocurrency. Now with the introduction of WBTC, the Ethereum network could have an official currency coin, as well as a network transaction coin. This distinction would allow both tokens to be adequately valued by the market based on what they were primarily designed for. This may result in ETH being devalued and losing its place as a top 3 cryptocurrency to WBTC. However, the increased number of transactions that WBTC would bring to the Dapp ecosystem could also result in ETH seeing a significant increase in value. In either case, the Ethereum network would benefit significantly from a Bitcoin backed ERC-20 token. Vitalik Buterin, Ethereum’s founder KYC & AML checks One

8 days ago

Crypto Arbitrage Today: USDT, TUSD, ZEC, TRX , XEM, ETC

Cryptocurrency arbitrage trading opportunities will always become apparent when a new day comes around. It is evident there are many different ways to make money with cryptocurrency, even if markets are not noting any real gains or losses. The following six coins are worth checking out in this department, as there is some decent money to be made. ZCash (YoBit / HitBTC / Bittrex) There are many different arbitrage opportunities where ZCash is concerned. Most exchanges have a lower price compared to YoBit, which allows for a quick and easy profit. Buying on HitBTC, Gate.io, CEX, Bittrex, or Bitfinex and selling on YoBit will result in profits of up to 1.8%. A more than healthy gain for doing little work, depending on overall liquidity across the different exchanges. TrueUSD (VeBitcoin / Binance) It has not been an easy time for stablecoins to do what they are designed to do: maintaining a peg to the US Dollar. In the case of TrueUSD, the value on Vebitcoin is slightly below that on Binance, which makes for some interesting opportunities. There isn’t a ton of liquidity at these prices on Vebitcoin, but the early bird can still get the worm. Ethereum Classic (Gate / Binance/ YoBit) Buying any cryptocurrency on an exchange that isn’t YoBit and selling it on YoBit seems to result in profits these days. For those looking to trade Ethereum Classic, buying on Gate, Koineks, Binance, KuCoin, or Poloniex will allow for some easy profits. Gains of 2% should be achievable without too many problems. XEM (Koineks / Livecoin / YoBit) Despite a rather tough year for XEM, it seems the altcoin is still in demand and can effectively lead to some arbitrage profits. Buying XEM on either Koineks or Livecoin and selling on YoBit can result in a profit of 5%. That is a lot of good money waiting to be made for doing virtually nothing at all, assuming there is sufficient liquidity. TRON (HitBTC / Bitfinex / OKEx) Numerous exchanges offer TRX trading, albeit often at slightly different prices. As of right now, there is a good chance buying TRON on HitBTC, Gate, Koineks, Bitfinex, Binance, or OKEx will allow users to score a quick 1% profit by flipping TRX on YoBit. A very peculiar option, primarily because the potential profit is nearly identical for buying on any of the listed exchanges. USDT (KuCoin / Bittrex / BtcTurk) It is somewhat unusual to see stablecoins offer arbitrage opportunities in Turkey. For the time being, buying USDT on BtcTurk, Koineks, Sistemkoin, or even Bittrex and selling it on KuCoin will result in profits of up to 1.7%. That is quite good money to be made from one of the most liquid stablecoin pairs which is used across dozens of exchanges in this day and age. All information is provided courtesy of Arbing Tool. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Crypto Arbitrage Today: USDT, TUSD, ZEC, TRX , XEM, ETC appeared first on NullTX.

9 days ago

PR: MoneyToken Allows You to Earn 8% in Interest on Your Stable Coins - Consistently

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. For those who exist anywhere near the crypto scene, it’s obvious that if it had fashion trends - this season would be all about stablecoins. With crypto investors choosing in favor of holding their crypto assets more and more, and investing into what seems to be the safest options on the market, we see a consistent growth of capitalization, and a drive for transparency in stablecoins - and this sentiment shows no signs of abating anytime soon. But what is usually the motivation behind converting to stablecoins? Sitting it out “in safety” for the next rally, ready to get back into more highly volatile assets? Well, now there is an option that allows you to put these assets to good use, and if you play your cards right, make an entirely risk-free profit while you are in the waiting game. This Monday, MoneyToken, a crypto-backed lending platform, announced that they are launching an opportunity that is just that - a program allowing clients to become lenders and contribute to the MoneyToken credit fund, earning 8% annually from the amount deposited. The team, lead by former Goldman Sachs employee Alex Rass, completed a $37M cap Token Sale in June; several sources close to the MoneyToken management team are claiming that, allegedly, the Lender membership program is being rushed through to launch, due to the company’s credit fund being wholly taken up with active loans, especially as a result of the runaway success of their 0% loans membership sales and the demand for crypto-backed loans this generated. Putting rumour aside, what is clear is that the MoneyToken lender membership program is providing something truly unique - allowing members the opportunity to put their stablecoins to use just like any traditional currency and collecting interest, pushing crypto another step further in terms of financial convenience. For the most careful and strategic of investors who aren’t looking to engage in a high-risk market with a high share of uncertainty; crypto funds not in possession of low-risk assets; and ICOs that have converted their collected funds to stable coins, MoneyToken acts like a form of treasury; an investment, which is backed twice-over by the collateral, with interest rates sitting at two to four times more than bank deposits in even the most client-oriented establishments and developed countries. All the lender’s funds are backed in a 2:1 ratio, deposited to a separate fund in order to be able to issue loans right away, and ensuring the quickest interest rate return possible. Depending on whether the user holds IMT, the MoneyToken token, they’re looking at anywhere from 6.5% to 8% interest per annum. If you’d like to deposit crypto as a lender, your options currently are Tether (USDT), Circle (USDC), which has MoneyToken listed as one of their partners in the first wave of adoption, and TrueUSD - all the most popular stable coins on the market. Lender Registration is available right now, by filling in the application form on the MoneyToken platform website. If you’re looking to turn your passive stablecoins into an active source of income this might just be the moment. Join the MoneyToken Lender’s program here - https://moneytoken.com/become-a-lender Contact Email Address james.hendersonmt@gmail.com Supporting Link https://moneytoken.com/ This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not 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 the press release. The post PR: MoneyToken Allows You to Earn 8% in Interest on Your Stable Coins - Consistently appeared first on Bitcoin News.

9 days ago

Asset Tokenization will Lead the Next Round of Blockchain Development

CoinSpeaker Asset Tokenization will Lead the Next Round of Blockchain Development According to ICORating, the total number of ICO projects has dropped from 275 in June, to 159 in September, and the proportion of projects that have successfully achieved ICO targets has fallen from more than half to about 30% today. According to statistics from Autonomous Research, the total ICO financing in August of this year was 326 million US dollars, the lowest amount recorded since May 2017, about one-tenth of the total monthly 3 billion US dollars in the first quarter of 2018. Fortunately, there is not only bad news. During this period, several stablecoins were introduced into the market, causing a heated discussion in the industry. The USDT is a digital currency pegged to the US dollar. All USDTs are issued by the Tethers under the Omni Layer protocol on the Bitcoin blockchain. Each token issued by Tethers is linked to one US dollar. Because USDT endorses the credit of Tethers, there are some risks. To provide safety, TrustToken launched TUSD for USDT informational opacity. TUSD can be looked at as an upgraded version of USDT, enhancing supervision by increasing KYC (user background checks), and AML (anti-money laundering), and improving information transparency. JPMorgan Chase is building a blockchain platform based on Ethereum — Quorum. As gold bars were packaged with electronic ID and the gold bars can be traced from the mine to the client, if the investor believes that the mine is credible, someone will pay a higher price for the gold bars than what is known. Many startups are trying to make the supply chain more transparent and make goods more liquid. The Quorum platform will help tokenize various assets, including precious metals, real estate, and prized works of art. The financial industry does not seem to have stopped the pace of adoption of new technologies. tZERO is a blockchain startup from Overstock. tZERO is issuing 500 million tokens called “tZERO”, and investors can use tZERO to pay for goods purchased on Overstock. tZERO completed its securities token issuance (STO) on October 12th, becoming one of the first STOs to be issued based on the decentralized network, (Ethereum’s main network). We can think of these projects as the first in digitization of assets. The goal of these projects is to identify all kinds of real assets in the digital world, then manage and trade them on the Internet. We can digitize currencies such as the euro, the dollar, and even assets such as gold, silver, and platinum. People hope that the digitization of assets will increase the liquidity of assets and greatly improve the operational efficiency of enterprises. From a financial perspective, asset digitization provides a more effective means of financing SMEs (small and medium-sized enterprises). With blockchain technology, asset digitization has further developed into asset tokenization. Implementation of hash and timestamps ensures the uniqueness of digital assets. All transactions are transparent and traceable. With the introduction of smart contracts, contracts will be highly automated, while tokenized assets can be traded globally and payments can be completed within a few minutes. Asset tokenization also allows asset ownership to be divided between multiple people, and smart contracts can automatically collect and distribute revenue. The TrustToken mentioned above is a platform for creating digital assets. TrustToken hopes to tokenize real estate, corporate patents, copyrights, collectibles and assets such as gold and oil, in the future. Asset tokenization is often a compliance process. TrustToken holders can use the auditing system provided by TrustProtocol. TrustToken can be used to purchase and attain mortgages, and each of the tokenization assets can issue its own tokens. The IDA project implemented artificial intelligence and IoT technology into its platform. A significant partner of IDA is MAN (MATRIX AI network). MAN’s technical features include self-learning and evolutionary AI algorithms. These AI solutions will play an important role in the future of digital asset trading and management. IDA is accelerating ecological construction of its digital platform and tokens will be issued as soon as possible. The forest resources currently being logged by Derun (Laos) Investment and Trade Co., Ltd. will be added to the IDA Ecology as the first assets backed by the IDA token. If the program is successful on the market these solutions can be applied to tokenizing assets such as ore, oil and gas. Look at AlphaPoint, for instance, AlphaPoint provide institutions with enterprise-grade solutions based on blockchain, making illiquid assets liquid. Their investors digitize assets, launch markets, and reduce operational costs, the whole process takes no more than one month. AlphaPoint also offers a complete set of tools for digital asset management. From digital asset portfolios to performance evaluation. The impacts of asset-b

9 days ago

Thanks to @TheEconomist for covering TrueUSD (TUSD) and the ...

Thanks to @TheEconomist for covering TrueUSD (TUSD) and the importance of stablecoins for the future of the #crypto… https://t.co/8voegbr2kx

10 days ago

BTC, ETH, EOS, NEO, and BCH markets on DigiFinex are now pri...

BTC, ETH, EOS, NEO, and BCH markets on DigiFinex are now priced in #TrueUSD (TUSD). Trade NEO/TUSD now - use a… https://t.co/1NjuMls21r

10 days ago

The TrueUSD (TUSD) market cap has grown over 60% this month!...

The TrueUSD (TUSD) market cap has grown over 60% this month! Thanks to Cohen & Co for providing independent attesta… https://t.co/obLAcJZpqn

13 days ago

HitBTC Adds the DigiByte/TrueUSD Trading Pair as Bitfinex Lists DGB

As stablecoins continue to grow in popularity, crypto exchange HitBTC has given investors another way to trade one of them. HitBTC, which is the No. 9 cryptocurrency exchange based on trading volume, announced it has added the DigiByte/TrueUSD trading pair, which is now live. TrueUSD is a stablecoin built on the TrustToken platform. Meanwhile, DigiByte (DGB), which is a decentralized mineable blockchain, also scored a listing on Bitfinex in the BTC and USD markets. The DGB price is up 5% to $0.021. (GT)

13 days ago

Tether Announces New Banking Partner, As Competitors Gain Traction

The State of The Market — November 2, 2018 BTC: $6,337.78 (-0.80%) ETH: $199.34 (-0.11%) XRP: $0.4608 (+2.03%) The Crypto market has settled once again, after a brief spike with Bitcoin reaching a peak of $6,500 yesterday. The price of Bitcoin has retraced to around $6,350, while Ethereum is trading just below $200. However, the top 10 coins are in green today, except Bitcoin and Ethereum. The total market cap also remains unchanged and is at $205.5 Billion. In other news, HSBC, Standard Chartered, and other banks have launched a blockchain-powered trade finance platform in Hong Kong. Named “eTrade Connect,” it is expected to bring efficiency to the multi-trillion-dollar funding for the international trade by digitizing trade documents and automating trade finance processes. Also, Bitcoin teller machine (BTM) operator Coinsource has received a BitLicense from the New York State Department of Financial Services (NYDFS). Coinsource is the first Bitcoin ATM provider to obtain a BitLicense, and the company currently has 40 BTMs in the state of New York to buy and sell Bitcoins. 1) Yesterday Tether (USDT) announced that they have established a new banking relationship with Deltec Bank & Trust Limited. The 72-year old bank is headquartered in the Commonwealth of The Bahamas. Tether made the announcement via Twitter and also provided a link to an official balance confirmation document dated October 31, 2018. The document was issued by Deltec Bank & Trust Limited, and it shows that Tether has a balance of $1,831,322,828. A press release on Tether’s official website explains that the new partnership will allow Tether to maintain its USD-peg and that the company is registered with the Financial Crimes Enforcement Network. Tether also stated that the company follows all anti-money-laundering (AML) procedures and all USDT in circulation are “fully backed by US dollars.” 2) USDT competitors like Gemini Dollar, Paxos, TrueUSD, and USD Coin are slowly absorbing the territory once held by Tether’s USDT stablecoin. Collectively, the four stablecoins have attracted more than $400 million in fiat, while USDT’s market cap dropped more than $1 billion throughout the month of October. USDT is still struggling to regain dollar parity on a number of cryptocurrency exchanges. TrueUSD (TUSD) has already issued $79 million worth of tokens, and the stablecoin’s market cap has doubled to $174 million over the past two months. After listing on Coinbase, USD Coin’s market cap has grown to $127 million, and PAX is at $107 million. Surprisingly, Gemini’s GUSD has been the slowest of the pack. Currently, GUSD has an $11 million market cap and regularly maintains $7.5 million in daily trading volume. 3) Morgan Stanley report now describes cryptocurrency as a “New Institutional Investment Class.” The report titled “Bitcoin Decrypted: A Brief Teach-In and Implications” describes Bitcoin and altcoins as a “new institutional investment class”. The report also describes “surprising” developments which support the investment firm’s bullish point of view. It suggests that the cryptocurrency sector has been strengthened by the formation of new funds and the “growth” of cryptocurrency-backed futures. The report also states that decentralized technology will make the world “better”, and anonymous sources have told mainstream media that Morgan Stanley is quietly developing Bitcoin trading products for its clients. 4) Google and Samsung have invested in the popular Ethereum-based game, Cryptokitties. Dapper Labs, the company behind CryptoKitties, announced that is has secured $15 million in funding from Venrock, Google Ventures, SamsungNEXT and Andreessen Horowitz (a16z). The investing round also included companies not typically associated with venture capital, such as e-sports firm aXiomatic and talent recruiter William Morris Endeavor. Just a few months ago, Dapper Labs raised $12 million from a16z and Union Square Ventures. Venrock partner David Pakman explained that “for the first time we can make scarce digital items” and he believes that there is a “mega-market” for digital collectibles. To date, Dapper Labs has raised $27 million in funding, and it’s highly likely that the blockchain firm is on the verge of a new release. (VS)

14 days ago

TrueUSD has been listed as a quote currency on @LBank_Exchan...

TrueUSD has been listed as a quote currency on @LBank_Exchange. Traders can trade #ETH and #BTC priced in TrueUSD (… https://t.co/H94Vvpg27K

14 days ago

USDT Competitors Continue to Gain Traction

The Gemini Dollar, Paxos, TrueUSD, and USD Coin are slowly absorbing territory once held by Tether’s USDT stablecoin. Collectively, the four stablecoins have attracted more than $400 million in fiat while USDT’s market cap dropped more than $1 billion throughout the month of October. USDT is still struggling to regain dollar parity on a number of cryptocurrency exchanges. TrueUSD (TUSD) has already issued $79 million worth of tokens and the stablecoin's market cap has doubled to $174 million over the past two months. After listing on Coinbase, USD Coin’s market cap has grown to $127 million and PAX is at $107 million. Surprisingly, Gemini’s GUSD has been the slowest of the pack. Currently, GUSD has an $11 million market cap and regularly maintains $7.5 million in daily trading volume. At the time of writing, USDT is up 0.10% and the price is $0.9984. (RS)

14 days ago

Huobi Group Interview: VP Livio Weng Talks of the Company’s Ambitions and Upcoming News (Exclusive)

Huobi Group has delved deep into the cryptocurrency and blockchain industry. Not only is Huobi one of the largest exchanges by trading volume but it also has a whole ecosystem of blockchain products and services including a venture capital arm and incubator. Blokt recently interviewed Huobi’s Vice President, Livio Weng, who hints that there will be some very big Huobi news coming this year. We chatted with Weng to gauge what direction Huobi will be moving forward in. Weng reveals the goals of this world leading blockchain company. The interview went as follows: Could you introduce yourself and tell us about your role at Huobi Group? My name is Livio Weng and I am Vice President at Huobi Group. My professional background is in fintech, peer-to-peer lending, and social networking. I presently oversee all Huobi’s business development, branding, marketing, and public relations. Could you tell us what Huobi is all about in a few sentences? Huobi Group is the world’s leading blockchain company. Not only do we run Huobi Global, which ranks among the top three cryptocurrency exchange companies in the world by trading volume, but also the complete Huobi ecosystem of blockchain products and services. What separates Huobi from other digital asset exchanges? Our complete ecosystem really sets us apart. We offer a full range of services across the blockchain ecosystem; this includes everything from our mining pool (Huobi Mining Pool), to our multi-chain crypto wallet (Huobi Wallet), to our flagship exchanges on Huobi Global. We also have two venture capital and investment arms (Huobi Capital and Huobi Global Ecosystem Fund) and a blockchain incubator in San Francisco (Huobi Labs), among other projects. Could you tell us the benefits of HUSD, Huobi’s new stablecoin solution? HUSD is really about user choice. Many of our clients wanted access to new government-regulated stablecoins like Paxos Standard Token(PAX), True USD(TUSD),USD Coin (USDC), and Gemini Dollar(GUSD) but limited trading volume and market capitalization prevented us from offering it to them. By grouping these regulated stablecoins together as HUSD, we can give traders access to their coin of choice at less cost and at reduced risk. If you deposit PAX with Huobi as HUSD, for example, you can withdraw it as a Gemini Dollar, a TrueUSD or any other coin listed under HUSD with no conversion fee. One important thing to note on this topic; while we strongly believe in offering users choice, we have no plans to abandon USDT either. We think its market capitalization and demand makes it indispensable and we have no plans to delist or restrict access to it. Does Huobi have any interesting partnerships lined up? We’re always on the lookout for promising new partnerships. Are there any exciting future plans you can share with us? While I can’t release any details just yet, people may hear some very big news from us in December. What has been your biggest challenge so far working for Huobi Group? The biggest challenge is also one of the biggest advantages. Things move at lightning pace in the cryptocurrency world. To stay ahead, you need to move at an even faster speed and constantly innovate. While it rarely makes things easy, it does make blockchain an exciting and rewarding field to be in. Where do you see the Huobi Group being in 5 years? We want to be the world’s largest cryptocurrency exchange by volume and to expand our global network of blockchain-related projects and businesses even further. Huobi Group Interview: VP Livio Weng Talks of the Company’s Ambitions and Upcoming News (Exclusive) was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

15 days ago

Nexo Entices Non-USDT Stablecoin Holders to Provide Loan Liquidity

The cryptocurrency world has seen an influx of stablecoins. While their initial purpose is to provide a stable asset value, Nexo sees merit in this concept for different reasons. The crypto-oriented loan platform will offer hefty interest rates to users storing major stablecoins on this platform. Nexo has Unusual Plans The purpose of a stablecoin is to create digitized versions of existing assets. In this case, they usually represent 1 US Dollar in digital form. These digital currencies can be traded freely across many exchanges supporting Bitcoin and altcoins. However, it appears they will also provide an interest-bearing alternative to traditional bank accounts. Nexo, the loan platform focusing on cryptocurrencies, sees merit in these new assets. Holders of such coins can earn interest rates of up to 6.5%. Those rates are high, especially for currencies which do not fluctuate in value. This is a rather surprising development for a company trying to position itself in the world of cryptocurrency lending. The company confirms they are looking for owners of the “major” stablecoins. That list includes TUSD, USDC, GUSD, PAX, and DAI. One notably absent currency is Tether’s USDT. That asset has not been able to maintain a $1 valuation for nearly two weeks now. All other stablecoins have no problems in this department, which makes them of greater interest to Nexo. Crypto Lending Slowly Becomes Successful Volatile currencies such as Bitcoin lend themselves perfectly to lending service providers. The fluctuating value of this asset seems to attract a lot of attention. Nexo also supports Ethereum, Binance Coin, NEXO, and XRP as collateral options. The addition of these major stablecoins brings the total to 10 different supported assets. These new rates put an interesting spin on crypto lending as a whole. Extending such a loan carries certain risks. The recipient of a loan can back out of the deal and never refund the lender. That has been a problem for platforms such as BTCJam in the past few years. How Nexo will address such potential situations, remains to be determined. Using a stablecoin for loans seems counterproductive. It is virtually the same as obtaining a cash loan, but in digital format. This new decision may improve the overall liquidity of all supported stablecoins accordingly. None of them comes close to rivaling Tether’s USDT in terms of supply and market cap. This high interest offered by Nexo may help change that situation over the coming months. Why do you think Nexo is offering such high interest gains for stablecoin holders? Let us know in the comments. Images courtesy of ShutterStock The post Nexo Entices Non-USDT Stablecoin Holders to Provide Loan Liquidity appeared first on Live Bitcoin News.

16 days ago

Coinbase will Raise $300 Mln in Series E Financing Round and Warren Buffett’s Berkshire Hathaway Invests $600 Mln in Fintech Firms

The State of The Market — October 30, 2018 BTC: $6,342.73 (-0.12%) ETH: $197.61 (-0.03%) XRP: $0.4461 (+0.85%) Yesterday the overall cryptocurrency market took a downturn and shed more than $6 billion from the overall market cap which currently sits around $203 billion. Bitcoin has struggled to recover above $6,350 and Ethereum remains below $200. On Monday Tether (USDT) briefly regained parity with the U.S. dollar and currently the stablecoin trades for $0.9946. In other news, Warren Buffett’s Berkshire Hathaway has invested $600 million in two fintech firms. Both firms focus on mobile payment systems and are located in emerging markets. Also, the UK’s Financial Conduct Authority will have the final say on a proposal to ban cryptocurrency derivatives. A recent statement by the Financial Conduct Authority (FCA) indicates that consultations on whether to ban cryptocurrency derivatives will begin at the start of Q1 in 2019. Cryptocurrency derivatives, futures, options, and contracts could be fully prohibited if the proposal is approved by the FCA. 1) Today Coinbase revealed that it will add an additional $300 million through a Series E financing round led by Tiger Global Management. Y Combinator Continuity, Wellington Management, Andreessen Horowitz, and Polychain are also involved in the fundraising. A Medium post from Coinbase President and COO Asiff Hirji explained that the funds will be used to build infrastructure between fiat and crypto in regulated markets worldwide. The funds will also allow Coinbase to offer additional crypto assets and support institutions seeking to invest in cryptocurrency. The current round of Series E fundraising brings Coinbase’s post-money valuation to over $8 billion. 2) Nexo (NEXO), a cryptocurrency-backed loan platform, announced Monday that it will soon offer 6.5% interest on major stablecoins stored on their platform. The qualified stablecoins include TrueUSD (TUSD), Circle’s USDCoin (USDC), Gemini Dollar (GUSD), Paxos Standard Token (PAX) and Maker’s Dai (DAI) will qualify for 6.5% when stored on the Nexo platform. Nexo, currently, is holding a $101.5 million market cap and is gearing up for its first dividend payment on December 15, when it will distribute 30% of the platform’s profits to NEXO holders. At the time of writing, Nexo is trading at $0.18, up 0.78% in the last 24 hours. 3) IBM and Smart Dubai have rolled out the Dubai Blockchain Platform, a blockchain-as-a-service platform that is backed by the government. The BaaS will run on IBM’s cloud, which is based in the UAE. The Dubai Blockchain Platform is compliant with the Information Security Regulation of the Dubai government and will allow private companies and government entities to shift to DLT testing and development in a quick manner. According to IBM’s Amr Refaat, this new service will assist organizations in using blockchain technology cost-effectively by freeing them of platform integration problems and security issues. It will also allow transparency and more efficient collaboration between government organizations and private entities. (RS)

16 days ago

OKEx Delists More Than Fifty Underperforming Trading Pairs From Its Platform

The Hong Kong-based cryptocurrency exchange, OKEx, announced on October 25, it will be delisting more than 50 underperforming trading pairs. Delisting Will Only Affect Trading Pairs - Users Can Still Keep Their Assets According to the press release, the exchange plans to remove trading pairs with weak liquidity and trading volume, based on the “OKEx Token Delisting / Hiding Guideline.” The event will occur on Oct 31, at 06:00 CET and OKEx advised its users to cancel their orders of the affected trading pairs prior to the deadline. After the deadline, all active orders will be automatically canceled by the system and assets will be credited to users’ accounts. The exchange said, however, that only trading pairs will be delisted and clarified that the respective coins will not be affected. “Please note that only the TRADING PAIRS with weak liquidity and trading volume, but NOT THE TOKENS themselves, will be delisted. Other satisfactory trading pairs can still be traded normally.” Crypto Assets Are Constantly Evaluated at OKEx Following the delisting announcement, Andy Cheung, Head of Operations of OKEx, provided a link to the “OKEx Token Delisting / Hiding Guideline,” which outlines the criteria based on which trading pairs are evaluated. He added that the listing of an asset is never final and good performance is essential to maintain its place on OKEx. Commenting in a blog post, Cheung highlighted the importance of mitigating investors’ exposure on risky digital assets. He added: “As leaders, we are responsible for promoting a robust ecosystem. Listing projects loosely or having 795 trading pairs is simply putting trader interests at risks. Housekeeping is necessary. We need to take action on those underperforming tokens now.” Cryptocurrencies Currently Going Through a Correction Period? Since last year’s frenzy, the crypto market has stabilized, and cryptocurrencies are going through a consolidation period lately. This narrowed trading range could be seen as a market correction, which gives exchanges the opportunity to reevaluate the performance of trading pairs. Similarly, at the beginning of October, Binance delisted Bytecoin (BCN), ChatCoin (CHAT), Iconomi (ICN), and Triggers (TRIG) from its platform. Earlier this month, OKEx announced the listing of four stablecoins. Namely, TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard Token (PAX) were added. Consolidation periods are usually followed by breakouts, and stablecoins were created as a countermeasure to the extreme volatility digital currencies have shown before. Therefore, could such a move be anticipating a breakout waiting just around the corner? OKEx Delists More Than Fifty Underperforming Trading Pairs From Its Platform was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

17 days ago

Will Digitex’s launch of its exchange be an alternative to Bitmex?

TL;DR Traders need effective exchanges to trade on, especially for leveraged trading, which can yield higher profits or losses. Bitmex is currently struggling as their exchange has not made the necessary progress to effectively support such a large user base. Digitex will launch their exchange in late Q4, 2018. They also have their own token, which will be used in place of a stable coin. We have interviewed Adam Todd, Digitex CEO, about the aspects of Digitex, their goals, and their future. One of the most important core tools a trader needs to be successful is an effective exchange to trade on. There are many exchanges on which to trade cryptocurrencies, including Binance, Bitstamp, and Bittrex to name just a few. However, these exchanges do not offer leverage trading options, which allow users to trade larger position sizes with less capital. Leverage trading can be very effective for day trading in smaller time frames. The current problem is that there are few exchanges that offer effective leverage trading options. Bitmex presently leads with the most trading volume. However, customers have begun to find many problems with Bitmex. Most notably is the inability to trade during major market events. It seems as though glitches or system problems arise whenever there is peak market activity which leaves customers frustrated - either locked out of trades or possibly facing liquidation. As the cryptocurrency sector matures, trading platforms and exchanges must also become more mature - and it seems as though Bitmex is struggling to do so. Recently, another entity threw its “hat” into the cryptocurrency exchange ring. Digitex was an ICO which ran from January 15 - February 15, 2018, and touted itself as “a commission-free futures exchange with its own native cryptocurrency, the DGTX token”. Its launch date was planned for the end of Q4 this year. Trading will be conducted according to crypto asset prices, but gains or losses will be paid in DGTX tokens. Adam Todd is the CEO and founder of the Digitex exchange. His goal is to give the world a trading option that he did not have; the ability to trade without paying fees. In a recent interview with CryptoPotato, Todd gave a few more details about the Digitex launch: Adam Todd “We plan to launch our Beta exchange to the top 5,000 sign-ups on our exchange at the very end of the year. The Beta should run for about two weeks, which will allow our developers to test the exchange and fix any issues before we open the exchange to the public in early 2019. If anyone is curious about the features and characteristics, we will be showcasing our first-ever live demo at the upcoming summit in Malta.” The Digitex token is used instead of fiat or Tether for the settlement of trade gains and losses, as mentioned above. This provides the opportunity to have a feeless system. This system will likely take some time to adjust to though, as it will be difficult to use DGTX instead of a stable coins like TUSD or USDT or BTC (like in Bitmex). Market manipulations are also a common topic of conversation in the crypto markets, with exchanges at high risk of manipulation. In reference to Digitex, Todd said to us that the “best defense against market manipulation is liquidity. As we’re creating a commission-free model, more and more traders will be attracted to our exchange, which in time will produce a highly liquid market”. Additionally, when asked about his vision for the key to Digitex’s success, Todd replied noting the importance of marketing: “We started a waitlist campaign that has currently over 300K sign-ups, and we still have another ten weeks to go. Of course, the product needs to be good, and we feel confident that the platform we’re building will be superior to what’s currently available in the futures market. However, it also needs to be marketed the right way to reach the right audience. A successful marketing campaign will allow us to launch the exchange to nearly a million users which in turn will start building liquidity. As we continue to build on our marketing campaign, we hope to become the leading exchange in the cryptocurrency futures market.” explained Todd. Some Differences Between Bitmex and Digitex Digitex has no fees, as compared to Bitmex. There is an added 0.05% for settlement of traditional futures contracts, as opposed to their perpetual contracts. Bitmex employs the option to use its unique “perpetual swap” contracts, which do not expire. Bitmex also has Digitex Platform traditional futures contracts with expiry dates. Digitex has a daily contract settlement, with a 24-hour contract length, using a Contract For Difference (CFD) model. Digitex also uses its DGTX token as its settlement currency, whereas Bitmex is settled in BTC. It will be interesting to see how the regulations play out, with DGTX (a utility token) instead of a fiat or Tether option. Digitex and Bitmex both allow the option of up to 100x leverage for trades. “Besides being a zero-fee m

17 days ago

Nexo Announces 6.5% Interest for Holding Major Stablecoins

Nexo (NEXO), a cryptocurrency-backed loan platform, announced Monday that it will soon offer 6.5% interest on major stablecoins stored on their platform. The qualified stablecoins include TrueUSD (TUSD), Circle’s USDCoin (USDC), Gemini Dollar (GUSD), Paxos Standard Token (PAX) and Maker’s Dai (DAI) will qualify for 6.5% when stored on the Nexo platform. Nexo, currently, is holding a $101.5 million market cap, and is gearing up for its first dividend payment on December 15, when it will distribute 30% of the platform’s profits to NEXO holders. At the time of writing, Nexo is trading at $0.18, up 0.78% in the last 24 hours. (RL)

17 days ago

TrueUSD is the only regulated stablecoin not controlled by a...

TrueUSD is the only regulated stablecoin not controlled by a centralized exchange. It's great to see so many projec… https://t.co/i23V8nMrKD

17 days ago

Crypto-Backed Lender Nexo Launches Liquidity Feature that Pays 6.5% Interest on Stablecoins

Swiss-based crypto-backed lender Nexo has unveiled a new feature that capitalizes on the popularity of stablecoins. Nexo is giving crypto investors the opportunity to become liquidity providers by staking their stablecoin holdings and earning 6.5% in annual interest, which is calculated daily. The company offers a 1:1 conversion to USD for the leading stablecoins: Tether (USDT), TrueUSD (TUSD), Gemini Dollar (GUSD), USD Coin (USDC) and Paxos Standard Token (PAX), which liquidity providers can withdraw at any time. It offers investors stability at a time when the USD reserves of stablecoin Tether have been in question. Separately, Nexo recently added support for XRP-backed loans and reportedly plans to add loans backed by Bitcoin Cash (BCH) and Litecoin (LTC) in November. (GT)

17 days ago

The Race Of The Stablecoins

Stablecoins, though rare, are now starting to appear more regularly across the market. The most-traded stablecoins at present, include Tether, TrueUSD and USD Coin, all of whom are currently relishing in high market capitalisation. In first place is Tether with a market cap of over 1,915,000,000, in second is TrueUSD with a market cap of $179,045,088 and in third place is USD Coin $126,491,038. These are the top three stablecoins on the market at the current time of writing and yet it’s clear which stablecoin is a clear leader. Tether aims to keep it’s called USDT on the same level at the US dollar by backing each token with $1 in bank deposits, accounts for the most part of the stablecoin market by total value, exchange and other factors. The market has started to show signs of worry surrounding Tether, focusing on the firms access to banking services and its claims to have fully collateralized outstanding Tether supply. The token hasn’t traded at $1 with any consistency since earlier this month. On 15th October, the token hit a low of $0.85 on one market even while the exchange rate mostly recovered it still lags below target trading at $0.99 on Sunday according to CoinMarketCap. Meanwhile, the multiple stablecoins that rival Tether have taken their place on the market which includes Paxos Standard, Circles USD Coin, Maker’s Dai, TrueUSD, Gemini Dollar and so on. You might have expected Tether to lose some of its rope as the competitors flooded into the market. However, while TUSD and USDC have made the biggest impact, data shows that there isn’t a winner of this race just yet but Tether is firmly on top. As said by CoinDesk: “All these coins are vying for a critical role in the crypto ecosystem. Stablecoins, in theory, allow traders to move money between exchanges quickly - without having to rely on access to traditional banking. They also allow traders to move their funds into a less risky asset during times of heightened volatility, without having to withdraw funds from an exchange.” There are several ways to measure market share for stablecoins but none of them are perfect indicators. One is by checking out the market capitalisation for when the asset is supposed to trade 1-for-1 with traditional currency, should be the same as the overall supply. The creator of the blockchain data site, Coinmetrics spoke on the matter and said: “Tether has definitely lost market share in terms of the supply of USD allocated to different stablecoins.” What are your thoughts? Let us know what you think down in the comments below! googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post The Race Of The Stablecoins appeared first on Crypto Daily™.

17 days ago

Free Money: How Crypto Arbitrage Made Firms Millions Last Week

The market started feeling a little queasy last week. The Tether (USDT) price had unaccountably lost its peg to the US dollar. Different exchanges were reporting different prices, but some were going as low as $0.85 per token. Some worried that the multi-billion dollar stablecoin was on the verge of liquidation, but it didn’t come to that. At the time of writing, Tether was nearing parity again with the US dollar. Fears over a sudden meltdown have been allayed, for now anyway. But where most smelt fear, some saw an opportunity. Individuals from the private finance world began to buy up as much USDT as they could, paying bottom prices from panicky USDT holders who wanted out, fast. Exploiting the widening disparities between the exchanges, these guys sold their discounted Tether anywhere quoting a higher price. In the space of a week, they used basic crypto arbitrage to make millions in pure profit. Tether price drop: a crypto institutional opportunity Mitchell Dong is the Managing Director of Pythagoras Investment Management. Based in New York City, he’s spent the last 13 years investing in hedge funds and private equity; he also develops quant models for trading cryptocurrency in Asia, Europe, and North America. Dong explained to Crypto Briefing that Pythagoras began buying Tether early on Monday morning (ET). At around 2 AM local time, he noticed the range between USDT prices quoted on different exchanges was widening. With a team of six spread across North America and Asia, he alerted the Singapore based team and instructed mass purchases of USDT, using Bitcoin (BTC). To traders, that dip smells like money. Source: CMC. “Some people say they saw as low as $0.86. but the lowest I ever saw was $0.88,” Dong said. “We would buy from low and convert it quickly over to Bitfinex to sell”. Although Pythagoras buys the underlying asset, it hadn’t bought Tether until last week. It had focused instead on the new stablecoins including True USD (TUSD), the Gemini and Huobi Dollar (GUSD; HUSD), as well as the Pax Standard Token (PAX). They made a lot of money, but Dong wouldn’t give an estimation of just how much they made in a week. Pythagoras wasn’t the only firm that spotted this opportunity. One trader, who asked that himself and his firm remain anonymous, described how one entire team devoted the whole of last week to exploiting the Tether price disparity. “A $0.15 spread across the market is a wide margin”, he said. “We were essentially given a license to print free money.” Crypto Arbitrage Arbitrage is a well-known and established trading technique, not just in crypto but also within mainstream financial markets. If you can buy an asset for a nominally low price and sell it somewhere for higher, it’s a quick and easy way to make returns. A no-brainer. But not everyone agrees. Simon Tobelem from ARIE Capital, a UK-based venture capital firm, felt such tactics brought the sector into disrepute. His main fear was it could harm relationships with regulators and the established players. He pointed out that the authorities were already starting to crack down on many of last year’s non-compliant ICO projects. “Quick profiting is the type of behavior regulators are particularly worried about”, he explained. “It’s not like the Wild West, actors need to behave”, “[Arbitrage] is great if the only objective is to keep crypto a very tiny industry, with a small number of players pulling all the strings, but it won’t go any further; it will put off the mainstream”, he added. Dong disagreed. He said that there was a legitimate place for arbitrage within the sector, as it created incentives to buy and sell tokens, keeping the market liquid. He also suggested that it would close the price disparity between the different exchanges. Although simple, crypto arbitrage is exclusive. Theoretically, anybody can do it, but the returns will probably be negligible at the scale most retail investors operate at. This is a game played by the institutions, for the institutions. The rest of the market is left nervously holding their tokens, waiting for the prices to stop fluctuating. The author is invested in BTC, which is mentioned in this article. The post Free Money: How Crypto Arbitrage Made Firms Millions Last Week appeared first on Crypto Briefing.

20 days ago

LBank Exchange Lists Stablecoin TrueUSD Across the BTC, ETH and USDT Markets

Cryptocurrency exchange LBank, which boasts trading volume of $141 million over the last 24 hours, has added support for a stablecoin. The exchange announced on Twitter that it’s listing TrueUSD (TUSD), which is being listed across the following markets: BTC, ETH and USDT. TrueUSD is trading flat today with much of the volume unfolding on Binance and DigiFinex in the BTC and USDT markets. TrueUSD is a stablecoin that is pegged 1:1 to the U.S. dollar. On Twitter, LBank followers asked the exchange if they would run trading incentives, which is what KuCoin exchange is doing by offering 99% off trading fees for TUSD through Oct. 29. (GT)

21 days ago

Ethereum Blockchain Network is Benefitting from the Stablecoin Boom: Why?

You can get all the big stablecoin names in the market right now: TrueUSD( TUSD), Circle Coin (USDC), Gemini Dollar (GUSD) and Paxos (PAX) are all based on the Ethereum blockchain. They are all fully audited, regulated and more transparent than Tether, which has been made them more useful for customers all around the world.

21 days ago

HUOBI Group Sets up Shop in Africa, Middle East and South Asia

Huobi Group revealed at the World Blockchain Summit in Dubai that the company is looking to expand its operations to the Middle Eastern, African and South Asian markets in a bid to provide services to its unbanked or underbanked residents.Co-founder Mohit Davar commented, “As Dubai is leading the blockchain effort in the region, it made sense for us to set up our regional head office here.” Huobi’s Dubai office will cover these three new areas to potentially replicate its ecosystem model, which was first established earlier this year as a means of funding and forming partnerships with other blockchain-based companies. Huobi’s dealings within those regions will include token-to-token trading — which is live at the time of writing — and community development, along with blockchain project incubation and an education center.This announcement marks Huobi’s most recent move into foreign jurisdictions in what has been an aggressive year of expansion for the company. So far in 2018, it has established a presence in Brazil, Canada and Japan. Serving 130 different countries, the Singapore-based company’s cumulative turnover exceeds $1 trillion.Huobi MENA, the company’s marketing arm, is also working to build relationships with several regional members of the blockchain space including artificial intelligence digital asset trading solutions company AI Traders. Recently, Huobi made headlines thanks to its ongoing work with stablecoins. The company has upgraded its light, multi-chain professional wallet, known as Huobi Wallet, to support six new stablecoins including True USD (TUSD), Dai (DAI), Paxos Standard Token (PAX), STASIS EURS (EURS), Gemini Dollar (GUSD) and USD Coin (USDC). Previously, the wallet only provided support for Tether, and Huobi Wallet is now the first to support all seven coins. “Huobi vice president Livio Weng explains, “Huobi believes in giving users maximum flexibility and choice when it comes to handling their digital assets, so this upgrade was a natural move for us.” In addition, Huobi recently launched its own aggregate stablecoin known as Huobi USD (HUSD). The currency allows investors to deposit any of the platform’s supported stablecoins into their digital accounts. These currencies are then shown as HUSD in the accounts, though the individual is later able to withdraw any of the mentioned stablecoins unless their account balance with one is not sufficient. They can then withdraw a different stablecoin of which they have an excess balance. Stablecoins are often seen as the answers to legitimizing the cryptocurrency arena and bringing institutional investors to the table. Larger, institutional players have shown reluctance when it comes to getting involved in the cryptocurrency arena due to the ongoing volatility of payment coins like bitcoin and ether. This article originally appeared on Bitcoin Magazine.

21 days ago

Why Are New Generation Stablecoins Based on Ethereum? - Ethereum Price Analysis - ETH/USD Price

Circle Coin (USDC), TrueUSD (TUSD), Gemini Dollar (GUSD), as well as Paxos (PAX), the new generation stablecoins contending with Tether (USDT), are based on the Blockchain network Ethereum. Ethereum (ETH) Price Today - ETH / USD All three mentioned stablecoins are transparent, fully audited and regulated. This allows them to guarantee the ability of users

22 days ago

Stellar (XLM) Based Stablecoin To be Pegged to the Australian Dollar (AUD)

Reports reaching Ethereum World News, indicate that a new stablecoin will be launched on the Stellar blockchain that is pegged to the Australian Dollar (AUD). It will keep its value in a manner similar to how traditional stable coins have used the USD as reference as well as being backed by the fiat currency. In this case, the new stablecoin by Novatti Group, will also be backed by the Australian Dollar (AUD). In an interview to Coindesk during the recently concluded Money 20/20 event in Las Vegas, Peter Cook, Novatti’s Managing Director, explained his vision for the coin beyond crypto market trading: We think that people will use them [stablecoins] to help purchase goods from Australian enterprises. And we think that will also use them for the payment of bills or for services inside of Australia. With regards to which bank the firm intends to work with to follow through on this new venture, Mr. Cook had this to say: We will be working with licensed money service businesses, banks and enterprises, who want access to digital assets. Novatti is a publicly listed company, it’s listed on the Australian stock exchange. So that should give [users] a lot of trust. The new stablecoin joins a budding list of other stablecoins such as Circle’s USDC, Huobi’s HUSD, Tether (USDT), TrueUSD (TUSD), Paxos Standard Dollar (PAX) and the Gemini Dollar (GUSD). About Novatti Novatti is a global software technology and systems integration provider that focuses on the demand for alternative methods of transferring money rapidly. The demand for such services enables telco, financial and other network service providers to deliver a strong value proposition within their ecosystem and target market. The firm is a licensed payments distributor that processes payments for firms such as Vox Telecom and South African remittance provider of MoniSend. [Image courtesy of KryptoMoney.com] Disclaimer: This article is not meant to give financial advice. Any opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you. The post Stellar (XLM) Based Stablecoin To be Pegged to the Australian Dollar (AUD) appeared first on Ethereum World News.

22 days ago

Thanks @kucoincom for extending #TrueUSD (TUSD) trading ince...

Thanks @kucoincom for extending #TrueUSD (TUSD) trading incentives - markets are now open for BTC/TUSD, ETH/TUSD, a… https://t.co/PIXqKbmW2I

22 days ago

Daily Cryptocurrency News - 19th October 2018

Welcome to our Daily News article. Here are the most important news of October 19th: Omise Receives Support from Capital Firm for its Blockchain PayPal Alternative The Japanese venture capital firm Global Brains announced a new significant investment. The capital firm invested on Omise Holdings; this also includes investors 31VENTURES and SMDV. Furthermore, the investment aims towards financing Omise’s expansion plans in Japan. It is also intended to support the development of Omise’s financial infrastructure. An infrastructure that has a PayPal-like service and an Ethereum-powered decentralized exchange. Moreover, the firm said that there is a need to develop an infrastructure for border-less payments. This infrastructure with innovative tools will be OmiseGo’s priority as it expands globally. According to OmiseGo, global expansion is a key growth driver for businesses around the world. They said that current financial transactions on platforms are built on infrastructures that are not geared to support global commerce needs. They also noted that as global commerce grows, conducting payments anywhere becomes a necessity. Omise will seek adoption in Southeast Asia as part of their strategy, starting with Japan. The company will leverage on it OMG Network, eWallet Suite, and OMG DEX financial tools. This will enable local businesses and users to conduct daily finance operations from the comfort of their mobile phones. It will be interesting to see the progress that will come from this investment. Monero Launches the Revolutionary Bulletproof Update Source: CoinBureau Monero, the cryptocurrency network with a focus on privacy and efficiency has launched their new update. Monero’s latest network upgrade is a significant protocol change. Besides bug fixes and reduced transaction sizes, the most important new features are the bulletproof and the updated PoW algorithm. The scheduled protocol upgraded went successfully and Monero compatible Bulletproofs are thus live on mainnet! 🎉 — Monero || #xmr (@monero) October 18, 2018 Bulletproofs will increase the level of security to the platform. They can reduce transaction size up to an 80%, (which translates to 80% reduction of fees.) Also, the speed required to verify a bulletproof is lower than the traditional range proofs. According to Monero, now a fee for a normal Monero transaction is about $0.005 to $0.01. The developers said that users must upgrade their wallets and nodes as using the old version can cause to lose transactions. With a new implementation in the world of Monero, the platform will undoubtedly rise in popularity. Even though Monero hasn’t gone through the good news this year, this update puts a big step on Monero becoming incredibly popular. Better privacy, efficiency, and ease of use with the update will be very significant for the users. At the time of writing, Monero is $103 and has the potential to rise due to this big update. ICON (ICX) Reveals Relationship With South Korean Government Source: CryptoSlate In a recent post, the Head of Research at Deblock and the VC and accelerator partner at ICON, Markus announced a close relationship with the South Korean Government. Moreover, he emphasized how vital is government decision in the cryptocurrency industry. According to him, this is the primary reason that the country hosts some of the most successful cryptocurrency exchanges in the world. About ICON ICthe ON is the top platform in South Korea when it comes to serving corporations using blockchain technology. According to a Medium post, the business partnerships with Line, Samsung, SK Planet, and Smiligate. All of them being very predominant in their respective industries. The platform has been partnering with many core government initiatives, such as: Educational services Healthcare services Customer services Insurance services Moreover, this July, the South Korean Government chose ICONLOOP to support the election development. According to sources, ICONLOOP took the position as blockchain technology consultant for ‘Building the Next Generation Election System based on Intelligence Information Technology’, launched by the Korea National Information Society Agency and supervised by Korea National Election Commission (NEC). However, things have not been fortunate for ICON. ICX, their native token has dropped way down the market cap chart and is currently ranked at 32th with $271 million. Its current price is USD 0.69 which is its lowest level for a year, and this means about 94% down from its all-time highest of over $12. It is interesting the point by Markus, and the relationship of ICON with South Korea could indeed make the native token price skyrocket. The token has a higher potential now with the new connections. Binance is Looking to Add New Stablecoins Binance, the world’s largest crypto exchange is looking to list new stablecoins to the platform. Besides the three stablecoins already added (which include USDT) Binance wants to keep

22 days ago

Why Most New Generation Stablecoins are Built on Ethereum Protocol

New generation stablecoins like TrueUSD (TUSD), Circle Coin (USDC), Gemini Dollar (GUSD), and Paxos (PAX) are all built on the Ethereum blockchain network and each is regulated, audited, and transparent enough that investors can take comfort in knowing that each token is backed by a U.S. dollar. The decision to build each stablecoin on top of Ethereum protocol allows each to be utilized by hardware and software wallets such as Trezor, Ledger, and Metamask. Using Ethereum protocol also improves the send and receive time for large businesses and consumers and it is easier to integrate Ethereum based stablecoins into the existing infrastructure of most cryptocurrency exchanges. Stablecoins built on Ethereum blockchain makes it easier for users to track the circulation of tokens and because the tokens are stored in smart contracts users can check on the number of US dollars stored in each stablecoin which effectively increases the transparency of the digital asset. (RS)

22 days ago

A New Australian Dollar-Backed Stablecoin Slated to Launch on Stellar

Utility billing and payment services provider Novatti is launching a new Australian dollar (AUD)-backed stablecoin known as the Novatti AUD Utility Token on the Stellar Network. As the platform’s tokens are tied to Australian dollars, all units in circulation will have an equal, matching reserve of AUD, allowing investors to use the currency freely without having to worry about price fluctuations. Novatti will hold the coin’s dollar reserves through the company’s licensed subsidiary, Flexewallet Pty Ltd., which is also registered as a remittance network provider with the Australian Transaction Reports and Analysis Centre (AUSTRAC). The service is currently in beta but is scheduled for an official launch on November 19, 2018. This is the second stablecoin to be tied to AUD, the first being Emparta. The blockchain employment platform recently formed a partnership with Bit Trade, one of Australia’s oldest digital currency exchanges, and announced they would design and launch the stablecoin sometime in 2019. Bit Trade’s managing director Jonathon Miller commented that the currency will act as a “buffer” against the price swings commonly associated with digital entities like bitcoin and ether. “Stablecoins solve one of the principal issues that may drive investors seeking steady returns and merchants that currently accept traditional currency away from digital currencies: volatility,” he said. “We believe stablecoins will boost trust, accelerate widespread adoption, and could function as the backbone of blockchain-based financial applications, especially here in Australia given the favorable regulatory environment.”Stellar and StablecoinsPer the official press release, “Novatti will be the first AUD anchor on the Stellar Network.” On Stellar’s blockchain, anchors act as token-fiat bridges, allowing the entities that run them to issue tokens in exchange for fiat currencies. “As an anchor to the Stellar Network, Novatti will accept inbound payments, process withdrawals and transfers, and initiate transactions for any KYC'd consumer or enterprise who seeks to transact via a Novatti user-facing platform or portal.”Stellar has played host to several different projects of late, including cryptocurrency trading platform Stronghold. Recently, the project launched its own stablecoin known as Stronghold USD via the Stellar Network through a collaboration with IBM Blockchain. Each coin is reportedly worth one U.S. dollar, while units are stored in an account with Nevada-based banking institution Prime Trust.Co-founder and CTO of Stronghold Sean Bennett explained, “The process for seamlessly managing and trading assets of any form from digital to traditional currencies needs to evolve as financial institutions are seeking ways to break into new asset classes like cryptocurrencies. Asset-backed tokens can provide seamless access to all currencies, improving the global movement of money.” Stablecoins have grown in popularity in 2018, as several new projects have either been announced or launched in the latter half of the year. Recent additions to the stablecoin community include kUSD, TrueUSD, Gemini USD, the Paxos Standard and USD Coin, a product of Goldman Sachs-funded trading platform Circle and Coinbase. This article originally appeared on Bitcoin Magazine.

22 days ago

Why New Generation Stablecoins are Crucially Based on Ethereum

TrueUSD (TUSD), Circle Coin (USDC), Gemini Dollar (GUSD), and Paxos (PAX), new generation stablecoins competing against Tether (USDT), are all based on the Ethereum blockchain network. Crucially, all of the three above mentioned stablecoins are fully audited, transparent, and regulated, which allow them to obtain stable banking services and guarantee the ability of consumers to The post Why New Generation Stablecoins are Crucially Based on Ethereum appeared first on CCN

22 days ago


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