Bitcoin

Cryptoeats, a company that reportedly raised 8 million in a Series A funding round to build a crypto-based Ubereats alternative, disappeared after launching its token. According to estimations, the startup might have taken more than £500K from investors after the launch of its official token dubbed “eats.” The alleged scam was promoted by UK influencers […]
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Spanish banks are preparing for the possibility of offering crypto assets directly to their customers. According to new regulations, the Bank of Spain must formulate a list of virtual asset service providers and custody companies. However, these institutions are still not sure if they must apply, because banks already comply with anti-money laundering directives derived […]
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PRESS RELEASE. Palo Alto, October 18, 2021 – LTNM, the next generation insured asset-backed cryptocurrency, continues to gain momentum and expand its global acceptance as it announced today it will be listed on FMFW.io Exchange (formerly known as Bitcoin.com Exchange), a top-tier cryptocurrency exchange. This represents a milestone for both parties – one where LTNM […]
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The digital currency exchange FTX Trading Limited announced the firm has raised more than $420 million in a Series B-1 fundraise. The capital raise follows the crypto exchange’s financing round at the end of July when FTX raised $900 million. After the raise was announced on October 21, FTX said the firm’s estimated valuation is […]
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On October 15, the day bitcoin’s price surpassed the $60K per unit handle, Salvadoran president Nayib Bukele taunted the professor of applied economics at Johns Hopkins University, Steve Hanke, over his recent statements. At the time, the well known economist warned that El Salvador faces “financial ruin” with “Bukele at the helm,” after El Salvador’s […]
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On September 8, 2021, Dmitriy Berenzon, research partner at 1kxnetwork, an early-stage crypto fund that helps founders bootstrap token networks, published a comprehensive research post concerning blockchain bridges. Berenzon’s study highlights the current “multi-chain market structure” and bridges that are making a myriad of blockchains compatible. Researcher: ‘We Are Finally in a Multi-Chain Market Structure’ […]
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PRESS RELEASE. AscendEX is thrilled to announce the Monsta Infinite token (MONI) listing under the trading pair USDT/MONI on Sept. 15 at 1 p.m. UTC. In celebration of the MONI listing, AscendEX and the MONI team will launch seven limited-time promotional events for users to earn token rewards. The events will take place between 12:00 […]
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Ricardo Salinas, president of Elektra Group, one of the biggest retail franchises in Mexico, hinted at the possibility of integrating payments using Bitcoin’s second layer solution, the Lightning Network. Salinas made the announcement yesterday via Twitter. This would allow residents of the country to pay for appliances in-store, directly with cryptocurrency. Elektra Group Might Accept […]
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Image from Bitfarms Website Bitcoin has fallen almost US$10,000 since June 15. Broader crypto markets are taking a horrific beating at the moment. The sides have been taken and battle lines have been drawn: It's developing countries like El Salvador and Tanzania vs the World Bank. As these nations try to empower and free their people through blockchain, the regulators are trying to slow the process down. Heavy Regulation was Bound to Happen That's not to say this is solely happening because some ancient institutions want to hold on to their power. The concerns of the World Bank and the IMF are legitimate. The regulators demonstrate a strong desire to mitigate the negative effects of decentral finance. Fraud, money laundering and financing of questionable activities are all massive concerns. Since October 2020, 7,000 investors reported losses totalling US$80-million according to the Federal Trade Comission. While trafficking and funding of terrorist organizations can be tracked when it involves banks, wire transfers or even cash, the process becomes much, much more difficult when it comes to cryptocurrencies.The other Elephant in the room? The emissions from producing electricity required for Bitcoin mining. The majority of Bitcoin miners in the world are based in China, and now that the nation is banning cryptocurrencies, they have to find new places to set up shop. The bright side for the environment? China used 1,951 metric tons of oil equivalent in coal in 2019. This is a four-fold increase since 1990. In 2019, coal made up 57.7% of China's total energy use. This issue caused Elon Musk to stop selling Tesla (NASDAQ:TSLA) cars for Bitcoin. Citing the unsustainable energy consumption from Bitcoin mining, Elon's tweet was a hard hit against Bitcoin's market value in May. Bearish sentiment is taking hold and even big-time investor juggernauts like Mark Cuban are calling for additional regulation.Environmental effects of crypto mining are now being felt, as the electricity used for mining comes from non-renewables in many high-density mining areas. It's estimated that Bitcoin mining takes more energy annually than the entire nations of Argentina and Sweden. While this might seem bad, it could actually be a very big opportunity. There is Hope: Bitfarms (NASDAQ:BITF)(TSXV:BITF) is Approved and Listed  This leads us to the topic of conversation: ESG in Bitcoin mining. A company that just listed on the NASDAQ. Bitfarms (NASDAQ:BITF)(TSXV:BITF) officially began trading on the NASDAQ today after receiving approval last month. Why is Bitfarms (NASDAQ:BITF)(TSXV:BITF) so significant?It's a Canadian Bitcoin mining company headquartered in Quebec.  The company operates five facilities in the province, and each one is powered by hydroelectricity. The company's Sherbrooke facility is split into two sections and has a power capacity of 30mw. According to Bitfarm's (NASDAQ:BITF)(TSXV:BITF) website, it costs an average of US$0.04/kWh to run the company's operation on 100% hydroelectric power. At the moment the stock is trading on the NASDAQ at $3.96. It took a hit down 8% from its offering as a result of a massive cryptocurrency selloff.  Bitfarms (NASDAQ:BITF)(TSXV:BITF) is a company that is positioned at the right time and in the right place. Based on their initial success, it's viable that the company's vertically integrated business model will be revisited in rolling out Bitcoin mining sustainability into the future.  The Conclusion Imagine walking into a house for sale, but it's on fire. Then say, "Oh, I can make this work?" That's kind of what sustainable Bitcoin mining companies are doing. The crypto market is taking a huge hit, but as of this morning, it's actually starting to ramp up! As China's great Bitcoin migration continues, more and more miners are selling assets and will have to relocate to other countries. These new homes may not have the same view toward energy consumption as the People's Republic, so this may mean a big push for environmental governance in Bitcoin mining from now on. Featured image from Bitfarms.comIf You Liked This Article Click To Share .crec-header h1 { color:#808080; max-width: 776px; margin-left: auto; margin-right: auto; padding-top:10px; font-size:12px; margin-bottom: 0; } .crec-container { max-width: 776px; margin-left: auto; margin-right: auto; } .crec-all-ads { display: flex ; flex-wrap: wrap ; } .crec-ad { width: 191px; padding-right: 4px; padding-top:5px; padding-bottom: 8px; } .crec-ad p { padding-top: 5px; font-weight: 700; line-height:1 !important; } .crec-ad:last-child { width: 191px; padding-right: 0; } .crec-ad > p > a { text-decoration: none; color:#000 !important; } .crec-ad > p > a:hover { color:#000 !important; text-decoration: underline; } @media(min-width:1228px){ .crec-image img{ width:191px; height:100px; } } @media (max-width: 1228px) { .crec-ad { width: 50%; box-sizing:border-box; } .crec-image img{ width:100%; height:158px; } .crec-ad:last-child { width: 50%; padding-right: 4px; } } @media (max-width: 590px) { .crec-ad { width: 100%; } .crec-image img{ height:auto; } .crec-ad:last-child { width: 100%; padding-right: 4px; } .crec-header h1 { padding-left:20px; } .crec-container { padding-left:20px; padding-right:20px; } } .mobile_tx{display: none;} #ax1x{ font-size: 1.1em; font-weight: bold; line-height: 1.5; clear:both; margin: 0px 0px 20px 1% !important; min-height: 4.5em; text-transform: uppercase; padding: .25em 0 10px 0; position: relative; width: 98%; float: left; } .next-pg { height: 85px !important; width: 100%; border-top-left-radius: 3px; border-bottom-left-radius: 3px; background-color: #e5192c ; background-image: url('/wp-content/themes/mh-magazine/images/global-after.png') !important; background-repeat: no-repeat; background-position: right center; background-size: auto 100%; overflow: hidden; box-sizing: border-box; margin-bottom: 0px; margin-top: 10px; position: relative; padding-left: 100px; } .next-pg::before { width: 45px !important; height: 85px !important; display: block; content: ""; width: 32px; height: 64px; background-image: url('/wp-content/themes/mh-magazine/images/global-before.png') !important; background-repeat: no-repeat; background-position: right center; background-size: auto 100%; position: absolute; left: -4px; top: 0px; } .action-txt { text-transform: uppercase; margin: 12px; line-height: 61px; text-align: left; font-size: 36px; background-repeat: no-repeat; background-position: right center; background-size: 26px 18px; color: #FFF; float: left; font-weight: bold; font-family: "Open Sans",sans-serif !important; width: 78%; display: inline-block; text-align: center; } @media (max-width: 768px){ .mobile_tx{display: block;} .desktop_tx{display: none;} .pps-slider-nav .pps-next { text-align: center; position: static; padding: 5px 20px; float: left; width: 100%; box-sizing: border-box; } .pps-next .next-article-page { padding-left: 0; float: left; margin: 0; } .next-article-page .action-txt { padding-left: 0!important; text-align: center; width: 87%; box-sizing: border-box; font-size: 26px; background: 0 0; text-align: center; } #ax1x { padding: .25em 0!important; min-height: 2.3em; width: 100% !important; margin: 0px !important; margin-bottom: 15px !important; padding-bottom: 0!important; } } @media (max-width: 500px){ .next-article-page .action-txt{ width: 75%; } } PreviousWorld Bank Won’t Help El Salvador Adopt Bitcoin
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El Salvador flag over bitcoin. El Salvador as first country adopting bitcoin as legal tender concept. Bitcoin dropped another 2.73 percent in conjunction with the Dow dropping 210 points by 0.6%. While the latter was due to the US Federal Reserve's latest monetary policy decision and projections. (I'll give you a hint: Higher interest rates), the former was due to a big development in the world's move to decentralized finance via crypto currencies. The World Bank Will Not Help El Salvador Adopt Bitcoin as a National Currency El Salvador's president Nayib Bukele was hoping for a better response from the World Bank after his government signed a law on May 5, 2021 propopsing the nation take on bitcoin as legal tender.  Under the new law, companies in El Salvador must accept bitcoin as a form of payment. Also, the government will also allow taxpayers to, you guessed it, pay their taxes in bitcoin. 62 of 84 members voted for the proposed law, and already much of the country is ahead of the curve. Quite surprising in a nation where 70% of the population doesn't have a bank account. Or is it? See also: The Great Bitcoin Mining Migration A Quarter of El Salvador's GDP is from Remittance US$6 billion in remittance came into the El Salvadoran economy in 2020. This amounts to benefitting 360,000 households in one of the most 'unbanked' nations on Earth.  Also, the nation has some of the lowest internet penetration rates in Latin America.  In rural areas, about 10% of people have internet access.  One example is only about 30 miles from El Salvador's capital, San Salvador. The beach town of El Zonte might not have proper concrete roads or even working drainage in many parts, but one thing it does have? Bitcoin. Already after the announcement, this month has seen Crypto entrepreneurs and businesses pouring in to help El Salvador get started, picking up the tab where the World Bank so unceremoniously dropped it. Still, hope is not lost when it comes to letting El Salvador make bitcoin legal tender.  (Also, they might not be the only country to adopt bitcoin in the next few years.) If you just randomly showed up in #ElSalvador this week you would definitely think there was a huge #Bitcoin conference going on. Non-stop flow through the airport of company leaders looking to support this moment and bring jobs to El Salvador — Bitcoin Beach (@Bitcoinbeach) June 16, 2021 Image Courtesy of Reuters While it's all sunshine and roses for whale wallets, crypto entrepreneurs, and those in developed countries with multiple screens, people like Zulma Rivas, a 38-year-old mother of 3, says she started accepting bitcoin payments last year for bags of cut fruit she sells to tourists as part of an experiment in the El Zonte 'Bitcoin Beach'. Her issue? Her old smartphone can barely run the payment app, and when the journalists reporting on her returned to check up on her, her phone was broken. El Salvador has a long way to go in making bitcoin legal tender While it might be official on paper, the developing nation still has a long way to go. Considering that much of the nation is still bankless (About 70% of the country doesn't have a bank account), wire transfers are still king - especially when 1/4 of El Salvador's GDP comes from remittance from overseas. Companies like Western Union (NYSE:WU) may be able to indicate through their moves just what the traditional finance world thinks is going to happen. For now, when it comes to bitcoin and the cryptocurrency world, El Salvador making bitcoin legal tender is nothing but a net positive, even if the powers-that-be might be furrowing their eyebrows.  If You Liked This Article Click To Share .crec-header h1 { color:#808080; max-width: 776px; margin-left: auto; margin-right: auto; padding-top:10px; font-size:12px; margin-bottom: 0; } .crec-container { max-width: 776px; margin-left: auto; margin-right: auto; } .crec-all-ads { display: flex ; flex-wrap: wrap ; } .crec-ad { width: 191px; padding-right: 4px; padding-top:5px; padding-bottom: 8px; } .crec-ad p { padding-top: 5px; font-weight: 700; line-height:1 !important; } .crec-ad:last-child { width: 191px; padding-right: 0; } .crec-ad > p > a { text-decoration: none; color:#000 !important; } .crec-ad > p > a:hover { color:#000 !important; text-decoration: underline; } @media(min-width:1228px){ .crec-image img{ width:191px; height:100px; } } @media (max-width: 1228px) { .crec-ad { width: 50%; box-sizing:border-box; } .crec-image img{ width:100%; height:158px; } .crec-ad:last-child { width: 50%; padding-right: 4px; } } @media (max-width: 590px) { .crec-ad { width: 100%; } .crec-image img{ height:auto; } .crec-ad:last-child { width: 100%; padding-right: 4px; } .crec-header h1 { padding-left:20px; } .crec-container { padding-left:20px; padding-right:20px; } } .mobile_tx{display: none;} #ax1x{ font-size: 1.1em; font-weight: bold; line-height: 1.5; clear:both; margin: 0px 0px 20px 1% !important; min-height: 4.5em; text-transform: uppercase; padding: .25em 0 10px 0; position: relative; width: 98%; float: left; } .next-pg { height: 85px !important; width: 100%; border-top-left-radius: 3px; border-bottom-left-radius: 3px; background-color: #e5192c ; background-image: url('/wp-content/themes/mh-magazine/images/global-after.png') !important; background-repeat: no-repeat; background-position: right center; background-size: auto 100%; overflow: hidden; box-sizing: border-box; margin-bottom: 0px; margin-top: 10px; position: relative; padding-left: 100px; } .next-pg::before { width: 45px !important; height: 85px !important; display: block; content: ""; width: 32px; height: 64px; background-image: url('/wp-content/themes/mh-magazine/images/global-before.png') !important; background-repeat: no-repeat; background-position: right center; background-size: auto 100%; position: absolute; left: -4px; top: 0px; } .action-txt { text-transform: uppercase; margin: 12px; line-height: 61px; text-align: left; font-size: 36px; background-repeat: no-repeat; background-position: right center; background-size: 26px 18px; color: #FFF; float: left; font-weight: bold; font-family: "Open Sans",sans-serif !important; width: 78%; display: inline-block; text-align: center; } @media (max-width: 768px){ .mobile_tx{display: block;} .desktop_tx{display: none;} .pps-slider-nav .pps-next { text-align: center; position: static; padding: 5px 20px; float: left; width: 100%; box-sizing: border-box; } .pps-next .next-article-page { padding-left: 0; float: left; margin: 0; } .next-article-page .action-txt { padding-left: 0!important; text-align: center; width: 87%; box-sizing: border-box; font-size: 26px; background: 0 0; text-align: center; } #ax1x { padding: .25em 0!important; min-height: 2.3em; width: 100% !important; margin: 0px !important; margin-bottom: 15px !important; padding-bottom: 0!important; } } @media (max-width: 500px){ .next-article-page .action-txt{ width: 75%; } } NEXT PAGE NEXT PreviousThe Great Bitcoin Mining Migration NextTanzania’s First Female President Wants the Country to Go Crypto
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Bitcoin was in mint condition after the weekend as it headed towards $59K on Monday morning, preserving its high-performing crypto coin. Just this past weekend, Bitcoin experienced a slow deflation, first with a surprise rally on Friday. Things turned around on Sunday overnight as the Bitcoin price approached $60K as the cryptocurrency continues to hold its position as the largest crypto in the community. Consider some factors below that could paint a picture of what it's in store for the bitcoin market for the remainder of the week. Appetite for Bitcoin Grows As Bitcoin slams back with new highs this week, it wasn't too long ago that it experienced a minor dip in price. Less than two weeks ago, BTC was near $46K in price but the currency rebounded quickly and sits at an all-time high--a new milestone since February of this year. This past Monday the market saw a fairly active market as people rushed to buy the popular crypto. Taking a glimpse at the buy and sell demand, Binance shows resistance still remains strong at $60K and above but this will require bulls to knock out several walls of sell orders so the currency can break out beyond its all-time high of $64.5K.  Reflecting on last Friday's gains, this was a genuine increase after buying among spot traders occurred.  Catching Up With Altcoins With Bitcoin fluctuating lately on the market, the most current and hot altcoin on the crypto scene is Ethereum (ETH). As ETH/USD sits just above $3,000 and had gains of 28% this past week, Bitcoin only saw 11% gains in comparison to the altcoin. With Bitcoin's market cap dominance slipping down to 47.7%, the lowest since July 2018, the crypto coin has lost some clout due to its performance. However, the popular Crypto Chase trader took to Twitter to share thoughts on ETH's uprise stating, "I wouldn’t be surprised if we see $3500 ETH this week". Only time will tell what direction the market will go the rest of the week. To read more on Altcoin opportunities ahead, click here. 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PayPal's president and CEO, Dan Shulman, confirmed that cryptocurrency will be introduced shortly at the checkout service for online transactions, which will also waive transaction fees for purchases made with crypto. PayPal, the well-known online payment and transaction service, is the latest to start accepting the digital currency as a medium of exchange at its millions of global merchants. The news was shared by the company's CEO at the end of March 2021. The new system will feature a crypto checkout service that will allow customers to access their stored coins, in order to purchase goods and services from the approved merchants. It has been reported the system will also reflect equivalent funds directly in fiat currency after coins are subject to a swift transfer during the time of sale.  All four of PayPal's supported cryptocurrencies will be made available at the checkout service. These include Bitcoin, Ether, Litecoin, and Bitcoin Cash. However, there will be a limit of one coin per transaction, but the customer will incur zero transaction fees. Dan Shulman commented on the launch of cryptocurrency and stated, "we think it is a transitional point where cryptocurrencies move from being predominantly an asset class that you buy, hold and or sell to now becoming a legitimate funding source to make transactions in the real world at millions of merchants."  The news first surfaced in October 2020 that PayPal had intentions to make an appearance in the crypto realm. PayPal worked its way into the industry in the early months of 2021, and acquired digital assets security firm Curv as well. The deal was thought to be worth $200 million. For more information on PayPal's move, click here. Read more about the growing use of Bitcoin and the increased use for daily transactions. 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With Bitcoin prices skyrocketing, the crypto market is seeing an uptick in the finance sector bigger than ever before. Despite that, the reoccurring argument remains: "nobody uses the top cryptocurrency for actual transactions." Although this claim has existed for a long time, there has been a shift in daily transaction volume, and it is nearing a milestone of $10 billion worth of Bitcoin. To further understand how the ecosystem is thriving, there are several factors to consider regarding cryptocurrency and its global awareness. With the crypto market actively growing on a daily basis, Bitcoin has also cemented itself as a contender in the finance sector. Initially, Bitcoin was introduced as a substitution for cash and the first digital currency to be utilized for modern-day transactions. Bitcoin On The Rise With Daily Transaction Boost  When cryptocurrency was new on the market, it was used for simple things such as purchasing a pizza. However, when Bitcoin started to become of value over time, more people wanted to hold onto their equity instead of using it. This practice is also referred to as "HODL" in the crypto community.  With users resistant to use Bitcoin, experts have addressed this as the most notable flaw for this asset and the digital currency platform as a whole. Even so, things are changing for the Bitcoin network as users are now utilizing it to send larger transactions and at a higher price point per coin. Currently, the average transaction is approximately half a coin, which hovers around at a value of $32,746. This is a 20% increase from a week prior, which has resulted in a total daily transaction volume of more than $10 billion each day.  As bitcoin uptick leads to growth in daily transactions, it's been noted by ByteTree that almost all major blockchain network metrics are in the green. 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Africa remains the home to a large proportion of the world’s population that is unbanked according to a 2017 World Bank Global Index survey. Many of those who are unbanked cite their lack of official identification particulars as one of the main reasons for their predicament. Cryptos Narrowing Financial Exclusion Gap Therefore, in their effort to reduce the number of people that have no access to banking services, Satoshi Nakamoto created Bitcoin, a decentralized digital currency and network that is available to anyone. Now, more than ten years later, the crypto asset has had successes in narrowing the financial exclusion gap as some financial services are now available to those lacking identification documents. Local.bitcoin.com is a peer-to-peer bitcoin cash (BCH) marketplace that’s available in every nation in the world. However, the rising fees on networks such as bitcoin (BTC) or ethereum (ETH) mean the respective crypto assets may eventually become less accessible. Further, the imposition of KYC requirements by some centralized crypto exchanges or the enforcement of FATF rules means millions of individuals including many from Africa will soon be blocked from trading cryptocurrencies. Local.bitcoin.com traders from Kenya. Nevertheless, some crypto exchange platforms like Local.bitcoin.com continue with their quest of making it possible for African users to have access to cryptocurrencies like bitcoin cash. Also, African users or traders will transact with the full confidence that the other party to the transaction will perform as agreed. Local.bitcoin.com’s blind escrow system ensures all parties play their part. How to Start So how can a prospective trader safely buy or sell bitcoin cash on Local.bitcoin.com? The first step would be to go on local.bitcoin.com and create an account. Creating an account on Local.bitcoin.com only requires one’s email address, a username, and a password. There is no KYC, an ID verification process, or geoblocking which often forces users from certain regions to use VPNs. Once an account has been created, the user is now ready to start trading. Local.bitcoin.com traders from Nigeria selling bitcoin cash (BCH). To start trading, a prospective BCH buyer simply selects a trader from a list of sellers shown on the offers page. If the two traders agree on the sale, the transaction will proceed with the seller sending the BCH to a blind escrow account. The buyer is then expected to make the payment as agreed and once this has been received by the seller, the assets held in the escrow account will be released to the buyer. Every country in Africa is listed on Local.bitcoin.com’s peer-to-peer bitcoin cash (BCH) market like Nigeria, Zimbabwe, Ghana, South Africa, Kenya, and specific populated cities as well. No Censorship Meanwhile, because Local.bitcoin.com is a peer-to-peer platform, traders can agree on a payment method that satisfies both parties. Since Local.bitcoin.com is decentralized, there is no way even the company’s staff can censor or stop certain transactions. Like onchain bitcoin cash (BCH) transactions, exchanges between two parties should be censorship-resistant as well. To Illustrate, BCH buyers from countries like Zimbabwe, which is blocked from accessing the global financial system, will state their preferred methods of paying. A seller that is amenable to these conditions will then respond to the offer. After the same process as described above has been repeated, the seller will receive his payment while the Zimbabwe-based buyer gets his BCH. For prospective African crypto traders that wish to trade on centralized exchanges but lack access to Visa or Mastercard, Local.bitcoin.com provides a secure alternative means of funding a trading account. For peer-to-peer traders, Local.bitcoin.com enables even small traders to trade as the fees on the BCH network make this possible. Is it easy to buy BCH via local.bitcoin.com? You can share your thoughts in the comments section below. Tags in this story Africa, Africa Bitcoin Cash, Bitcoin, bitcoin cash, Bitcoin Cash Africa, Cryptocurrencies, Ethereum, FATF Guidelines, financial exclusion, Ghana, KYC, Local.bitcoin.com, Network Fees, Nigeria, South Africa, Unbanked, Zimbabwe Image Credits: Shutterstock, Pixabay, Wiki Commons, Local.bitcoin.com Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimer
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The top ranked altcoin, Ethereum, has broken its all-time high and like Bitcoin’s big breakout, it has attracted more and more participants to the cryptocurrency market. Valuations are rising everywhere, and the total altcoin market cap is on the verge of a life-changing breakout, if history repeats. And given the current momentum and FOMO across […]
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SushiSwap’s native token, SUSHI, has undergone a strong rally over the past 24 hours. The leading cryptocurrency is up 10% in the past 24 hours, pushing to multi-week highs after a few days of slow price action. SUSHI’s rally comes as Bitcoin has thrust higher, pushing to new all-time highs at $29,500. The leading cryptocurrency […]
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As Bitcoin continues to break new barriers to redefine its all-time-high prices, the flagship cryptocurrency has become one of the most sought-after instruments among individuals and corporates alike. In the present scenario, Crypto.com offers a variety of options for users to invest in the digital gold and benefit from the potential riches Bitcoin can bring […]
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PRESS RELEASE. Securypto trade will open on Bilaxy on 1 January, 2021 and all indicators say that it will start off strong given the high demand for it alongside the low circulation of the coin as pointed out by Securypto team. There will be only 410,000 coins available for sale when it starts trading on Bilaxy. On top of that, another 750,000 coins have been recently burned on 28 December, 2020. This news alone has made investors pay more attention to the potential Securypto has on the market especially since the SCU coin is one of the few coins that actually has a use case. Taking in consideration the scarcity of the coin, it is expected by the Securypto telegram community that the value of the coin will increase by time in both short and long term in their recent poll. Securypto has raised almost $100,000 before the exchange opening which is an astonishing feat on its own these days, long past the days of ICOs. This signal clearly shows how strong the community and investors believe in this project. Bilaxy Bilaxy support has quite been unprecedented, “Bilaxy has always been the home of crypto hidden gems, and we are happy to support more promising blockchain projects with our various financial services like trading, staking and more. Anonymity is a scarce commodity in this day and age and we have seen Securypto’s potential to develop a model where you take back control of your data and send and receive truly anonymous encrypted data.” About SCU SCU, which stands for Securypto Token, is a utility token that enables users send and receive encrypted messages and data with it’s app DigiSafeGuard. The app itself already allows you to do that but the utility token enables an anonymity layer on top of it which makes it a perfect instrument for everyone that cares about their privacy to send and receive data. Early feedback from early adapters shows that mostly people who live in restrictive countries make use of this application like North Korea and places where censorship is very high and freedom of speech is a luxury where Securypto has given them a voice. Whistleblowers have also commended it’s ease of use and high level of encryption and how it makes it easy to use as Whatsapp but the moment you send the message it looks like your message goes into a wormhole and the receiver gets the message and no one can discover the path it has taken from sender to receiver making it impossible for anyone to track the message or decrypt it. It comes then as no surprise why both the community and investors have been excited about the development and launch of SCU/ETH trading on Bilaxy exchange on 1 January, 2021. This is a 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. Tags in this story Image Credits: Shutterstock, Pixabay, Wiki Commons
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Bitcoin’s mysterious creator, Satoshi Nakamoto, first appeared on the web when the software programmer (or programmers) published the Bitcoin white paper on Halloween 2008. After the paper published and the crypto network launched, the inventor spent a little time with the community curating the project. People who are inspired by Nakamoto or like to research the engineer’s work can obtain a physical copy of Satoshi’s writings in its entirety from a book called “Kicking the Hornet’s Nest.” Crypto proponents can now leverage a book called “Kicking the Hornet’s Nest: The Complete Writings, Emails, and Forum Posts of Satoshi Nakamoto, the Founder of Bitcoin and Cryptocurrency.” The compendium of the Bitcoin creator’s writings was assembled by Mill Hill Books and is available in print form for $29. All of the writings were collected and assembled chronologically “with almost no editorial commentary.” Many of the resources from the book stemmed from sites like nakamotoinstitute.org, bitcointalk.org, The Cryptography Mailing List at metzdowd.com, personal emails to and from Dustin Trammel (aka Druid), and personal emails from Mike Hearn and Hal Finney as well. There is a bit of commentary in the “Notes from the Editor” section, which explains why the compendium of Nakamoto’s writings were assembled. “Satoshi fired a shot across the bow of the financial powers-that-be,” the author writes. “Bankers, politicians, and the manipulators of the money supply have not been happy about Bitcoin and cryptocurrency.” The editor explains that after a decade the powers-that-be have been warming up to the idea of cryptocurrency and essentially “the inevitability” of this technology. Of course, financial incumbents are slow and cautious, the author insists. The editor’s notes also suggest that the financial bigwigs are threatened by the fact that bitcoin gives “power, freedom, and responsibility to the individual.” “As a boy, my brother and I would occasionally come upon a hornet’s nest while playing in the woods,” the editor said. He added: When we did, being boys, there was really nothing else to do but to throw a rock or stick at it, or kick it. Kicking a hornet’s nest isn’t rational, but just too tempting and just too much fun not to. And when you do it, you do it fast and then you run like hell. The book’s editor writes a number of attributes Bitcoin’s creator had shown when he wrote, like the fact that he liked to double-space after a sentence is complete. Other insights taken from the chronological work of Nakamoto, was that Satoshi was polite, a good teacher, a clear communicator, a fantastic thinker, a heads-down programmer, and a person or group that “values privacy” the editor said. Additionally, the author writes that it is noteworthy to acknowledge that “since Satoshi Nakamoto is unknown, Satoshi’s sex is unknown.” The editor adds: Satoshi may be a man, woman, or group. However, since サトシ is generally a male’s name in Japan, Satoshi is referred to here [in this book] using singular, male pronouns. The book assembled by Mill Hill Books has a lot to digest, as Nakamoto wrote on bitcointalk.org 539 times and there are approximately 34 publicly known emails. The compendium of Nakamoto’s writings is 340-pages long and ends with the last message from Satoshi back in March 2014 when the programmer (or programmers) allegedly wrote: I am not Dorian Nakamoto. The editor does note that the authenticity of this particular message is not fully verified and the post has been debated for its legitimacy. “Despite his focused, logical, business-minded tendencies, there seems to me to be a bit of boyishness about him,” the editor’s note concludes. “This is seldom shown, but it is there, revealed in his writings in rare glints. This leads to a final conclusion… Satoshi is human.” What do you think about the book called “Kicking the Hornet’s Nest?” Let us know what you think about this subject in the comments section below. Tags in this story Bitcoin, Bitcoin (BTC), Bitcoin's Creator, Bitcoin's Inception, Bitcoin's Inventor, Book, Compendium, Cryptocurrency, Inventing Bitcoin, Kicking the Hornets Nest, Nakamoto, Notes from the Editor, Satoshi, Satoshi Nakamoto, Satoshi's Writings Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimer
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Over the years, we have been introduced to a digital transformation, which has created and shaped communities around the world. Digital technologies have introduced newly evolved ways of how the world interacts, operates, and most of all, conducts exchanges. In the current economic hardship and the Covid-19 global pandemic, the European Union has had to face many operational and structural facts, one of them being the strength of the fiat currency; the Euro. The European Economy Operates via a Flawed System Since the introduction of the Euro, the currency has been in a consistent debate, regarding its strength and endurance within the global exchange. This specific criticism is defined by a strategic error, showcasing a dominant flaw; specifically, the Euro not having a strong asset-backed united economy. The fault has been well argued for the fact that the creation of the Euro intended to mimic the firm stance and ability of the US dollar, yet the European Union is still divided via an economic standpoint between members. Although opinions may vary, one cannot argue the strength of the organizational base of the US economy and consistency of the USD currency portraying a ‘robust’ stance even with the turmoil of changes the year 2020 has presented. ‘This is why the US economy was more prepared for the Covid-19 pandemic. The European economy operates via a different…maybe, one could say, a flawed economic system, and therefore it becomes more vulnerable to change of regulations and stabilize operations during such times’ – Simone Mazzuca Simone Mazzuca With that in mind, the economic hardship for individuals and businesses within the EU could be reduced by the creating regulations which embrace current and future digital technological possibilities. ‘The basis of Europe has a strategic position through the exchange and global power, however, in its current stance with addition to BREXIT, Europe finds itself in an even more vulnerable position’ – Simone Mazzuca Henceforth, the development of stablecoins comes at the right time, especially when international financial policies seem to be polarized by different financial variables and the inflationary nature of the Fiat. This is why Mr Mazzuca created EURST, a USD asset-backed and live audited stablecoin. The newly developed digital currency from Wallex Trust represents 1€ worth of USD, secured by the accounts of the federal reserve and Wallex Trust itself. EURST Presents Opportunities for a Better Economy Issued as a token on the Ethereum network according to the well-established ERC20 standards, the advanced capabilities of blockchain technology enables users to conduct faster and more secure transactions. This is enabled through the use of smart contracts, which digitize deposited funds that are held in a segregated account by the issuer. Thus, empowering users to transact their money without the high costs and lengthy delays of the current financial system. ‘EURST can be used as a logistical background for the representation of the Euro’ – Simone Mazzuca Even more, blockchain technology enables EURST to be fully transparent and live audited as transactions are recorded on the digital ledger, in addition to having regular third-party audits. This presents the ability not solely to bring transparency and security, but also allows users to store their funds within a trusted Custodian, Wallex Custody. Through the use of opening an account within Wallex Custody, users can benefit from additional security and privacy while maintaining fluidity in the deposit, transfer or withdrawal of personal funds convertible to any currency of choice within a quick and borderless matter. In conclusion, EURST presents itself with opportunities and possibilities for a better economy, and, we highlight some dominant features: 1. The protection of wealth from losing value in relation to the Euro may use the stablecoin to save money without opening a bank account in Europe2. Users wanting to deposit funds to cryptocurrency exchanges for trading may use EURST instead of Fiat.3. Oversees workers may use EURST to bypass the expensive transfer fees charger when making fiat remittances to their family back home. Following the above-mentioned advantages, EURST does indeed portray the possibility and opportunity to bring a sort of ‘chameleon’ option for operations with the Euro currency. The transparency and security of the stablecoin, EURST, is that it brings and gives support to individuals and businesses to operate successfully and this, within an economy that is yet to provide us all with reassurance. Link to EURST: https://eurst.io/ Link to Wallex Trust: https://wallextrust.com/ Link to Wallex Custody: https://www.wallexcustody.com/ This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. Tags in this story Bitcoin, Crypto, Cryptocurrency, EU, Euro, Europe, EURST, Simone Mazzuca, Stablecoin, Wallex, Wallex Custody Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimer
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Bitcoin’s price has been flashing signs of immense weakness throughout the past few days, with the recent $19,500 rejections sending it reeling lower as analysts watch for further downside. The rejection just below its all-time highs was certainly what sparked the ongoing correction, but some other factors are at play here. One such factor is […]
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The U.S.-based company Digital Asset Investment Management (Daim) has announced the launch of a company-sponsored 401(k) retirement plan that allocates up to 10% in bitcoin. The plan is an ERISA compliant employer-sponsored 401(k) and assets are held in institutional-grade cold storage by leveraging the custodian Gemini Trust. During the last few years, investors have been able to leverage a digital currency retirement plan in the form of an IRA. For instance, the company Bitcoinira helps people invest in cryptocurrencies like BTC, BCH, ETH, and LTC with the firm’s cryptocurrency-focused retirement funds. On Thursday, November 19, 2020, the Newport Beach California-based company Digital Asset Investment Management (Daim) revealed an ERISA compliant employer-sponsored bitcoin 401(k) plan that involves an allocation of BTC. “From the moment we were approved by the State of California in June 2018, we’ve seen incredible inbound demand from individuals eager to invest bitcoin in 401(k)s,” Adam Pokornicky, COO of Daim said during the launch. “Conventional 401(k) plans are restrictive and often lack investment options, causing participants to not only be frustrated but have poor risk-adjusted returns that barely keep up with the rate of inflation.” “This is a bad deal for savers given the current environment. We believe bitcoin has demonstrated it has a place in the modern portfolio and individuals should have an opportunity to “Get Off Zero” and invest directly through their retirement account,” the Daim executive added. According to Daim, the firm will be the 3(38) advisor and fiduciary and it will assist companies who want to offer the 401(k). The plans have traditional assets alongside up to a 10% allocation in bitcoin (BTC). “Bitcoin will be held securely in institutional cold storage custody with Gemini Trust, our partner for our primary investment advisory services. The California firm also explains what happens when an employee leaves a company offering the bitcoin 401(k) plan. Daim states: Should the employee leave their company their Bitcoin will be able to transfer with them. And should an individual want to allocate more to Bitcoin, they can schedule an investment consultation with Daim. Pokornicky also notes that Daim executed an employer-sponsored 401(k) plan back in October 2019 and has been testing for 12 months. Daim is now allowed to launch “scalable 401(k) plans that provide recordkeeping and administrative services.” “[Daim is] excited to lend our fiduciary capacity to enable access to Bitcoin in 401(k) plans in this way,” Pokornicky shared. Other companies that offer bitcoin-related retirement services besides Daim and Bitcoinira include Bitira, Coinira, and Regal Assets. While the digital asset ecosystem continues to grow concepts like retirement services have tapped into the swelling crypto economy. 401(k) plans give employees tax advantages and the U.S. Internal Revenue Code allows 401(k) or IRAs. With digital currency prices posting massive gains in recent days, a bitcoin-based 401(k) may prove to have a much larger retirement yield. What do you think about Daim launching an ERISA compliant employer-sponsored 401(k) with a 10% bitcoin allocation? Let us know what you think about this subject in the comments section below. Tags in this story 401k, 401k plan, Adam Pokornicky, Bitcoin, Bitcoin 401k plan, Bitcoin IRA, Bitira, BTC, California Company, Coinira, Daim, Daim.io, Digital Asset Investment Management, Gains, Internal Revenue Code, IRS, Regal Assets, Retirement, retirement plans, retirement services, retirement yield, sponsored 401(k) Image Credits: Shutterstock, Pixabay, Wiki Commons, daim.io/bitcoin401k, Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimer
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Bitcoin prices have been volatile during the last few weeks, but have managed to climb higher in value at the same time. This week bitcoin derivatives markets, specifically futures and options, show that crypto asset traders should expect more swings going forward. Some traders believe that the digital currency’s price could fill two unfilled gaps on CME Group’s Bitcoin Futures chart with an upward trajectory toward $18,000. During the last few days, bitcoin (BTC) spiked over the $16k handle, as numerous cryptocurrency markets have seen some significant gains this week. On Sunday morning, November 14, 2020, BTC’s price slid under the $16k zone to a low of $15,750 during the early morning trading sessions (EST). The asset has regained some of the lost value and continues to fight the psychological $16k region at the time of publication. Meanwhile, bitcoin derivatives markets have been seeing some intense action, as both futures and options markets show signs of things to come. On November 6, 2020, Skew.com tweeted about how bitcoin options open interest has been “breaking out big.” Needless to say #bitcoin options open interest is breaking out big pic.twitter.com/kg084toK6u — skew (@skewdotcom) November 6, 2020 Essentially, open interest is the measurement of contracts that have been initiated within futures markets held on exchanges like Deribit and CME Group. From Skew’s chart, it shows that BTC options open interest is at an all-time high (ATH), with Deribit capturing the lion share of open interest. CME Group, Okex, and Ledgerx follow Deribit’s lead, and CME’s open interest has been growing massively. In crypto derivatives markets that tend to bitcoin futures and perpetuals, open interest has also reached an ATH this month. With Bitmex’s open interest lower since the recent U.S. investigation, most of the derivatives exchange interest is distributed almost evenly except for Bakkt, which is the third-lowest exchange in terms of open interest. Deribit’s also does not lead when it comes to bitcoin futures markets, and Okex commands the leading position in this arena. In addition to the open interest and trade volumes across bitcoin futures and options markets, BTC traders are eying two specific price gaps from CME Group’s Bitcoin Futures chart. The price gaps which were left unfilled show targets at $17,700 and $18,500 and they stem from BTC’s parabolic rise three years ago. Gaps can be left unfilled both ways and there are a few lower regions that have been left unfilled on CME Group’s Bitcoin Futures chart. For instance, on May 16, 2019, BTC prices slid to $6,600 in a matter of no time, thanks to an unfilled CME gap at the same level. Financial markets show that the “filling the gap” process can also happen on the move back toward higher BTC prices. Bitcoin could rise to these positions ($17,700 – $18,500) in order to fill the CME chart’s void and either consolidate, rise higher, or be pushed back to lower price ranges. Speculative assets, specifically seen on certain CME futures markets, commonly have different variations of price gaps and BTC is no different. On November 6, 2020, BTC filled the gap represented on charts that were recorded on December 21, 2017, at $16,455 to $16,560. There are also two gaps on the downside to keep in mind; one at $11,095 and another at $11,505 as well, which could be just as likely to hit before the $17,700 gap. What do you think about the recent surge in futures and options open interest and the CME bitcoin futures gaps that could fill in the $18k price range? Let us know what you think about this subject in the comments section below. Tags in this story $17K, $18K, Bakkt, Binance, Bitcoin, Bitcoin (BTC), Bitcoin derivatives, bitcoin futures, BitMex, BTC, Bybit, CME gap, CME Group, Coinflex, cryptocurrency exchanges, deribit, derivatives, Finance, Financial Markets, ftx, Futures, Huobi, Kraken, LedgerX, Okex, options, Price Gaps, Prices Image Credits: Shutterstock, Pixabay, Wiki Commons, Skew.com, Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimer
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