EU and US Crypto Regulations Show a Stark Contrast

EU and US Crypto Regulations Show a Stark Contrast

Facebook's decision to enter into the realm of financial services spurred lawmakers around the world into action, necessitating a discussion of EU and US crypto regulations, which are very different from each other.

                              

Following the announcement by social media giant Facebook

that it plans to launch its own cryptocurrency by 2020, U.S. President Donald Trump felt compelled to voice his feelings regarding Bitcoin and cryptocurrencies.

In a recent tweet, the president said he is "not a fan of Bitcoin" and that its value is "based on thin air". Continuing, he stated that if big tech companies like Facebook wish to launch cryptocurrencies they must first follow proper regulations to "become a bank." Initially, the cryptocurrency market was not negatively affected by the news but further comments from U.S. Federal Reserve Chairman Jerome Powell resulted in a 10 percent loss on the markets. The comments and ensuing furor within the cryptocurrency community highlight the stark differences between cryptocurrency regulations in the European Union and the United States.

Different methods of interpreting the law

The main difference stems from the legislation that is already in place in the two markets. The EU's relatively new and far more complex system requires a decision process that encompasses several sovereign nation-states, whereas the U.S. benefits from pre-ordained legislation going back centuries that clearly defines the process between state and federal decision making.

Due to the U.S. operating on a 'common law' system, cases are dealt with independently and often rely heavily on a final ruling from a single judge. For this reason, many small crypto-related projects have received penalties from the U.S. Securities and Exchange Commission (SEC) over the years for not properly following regulatory measures. In the EU, no such fines have been imposed as the process of developing a regulatory framework must be established first – and that could take years. In the meantime, rather than simply issue fines, the EU is providing constructive advice to banks and financial institutions on how best to

deal with cryptocurrencies.

“The European Commission and European parliament have set up the EU blockchain observatory and Forum to map the blockchain initiatives going on in Europe and to gather inputs for the European Commission on regulatory issues like smart contracts, ICOs, and secondary markets", said Peteris Zilgalvis, head of startups and innovation at the European Commission, in an interview with Forbes magazine last year.

EU Regulations Viewed More Favorably

Alex Alexandrov is the CEO of Coinpayments, one of the largest and most diverse crypto payment platforms available today, and founder of the Velas AI-enhanced blockchain network. He believes the EU provides a better regulatory environment

for cryptocurrencies.

“EU, in my opinion, is farther ahead in crypto laws and has created a much better environment for banking and regulations. USA tends to focus more on punishment vs guidelines, while the EU is working toward allowing businesses to feel they are wanted and working with new industries in a much clearer way," he says.

Most recently, the EU nation of France has begun to improve its regulatory environment with the approval of several crypto-related projects by its financial watchdog the Financial Markets Authority. “We are in talks with three or four candidates for initial coin offerings”, said FMA executive director of legal affairs Anne Marechal, speaking to Reuters. “We will have a legal, tax and regulatory framework.” The move aligns it more closely with other crypto-positive European nations like Switzerland and Malta, both of which have been key in helping to promoting blockchain technology in the EU. These benefits prompted Alexandrov to base his new blockchain venture, Velas, in the Swiss canton of Zug –

often referred to as 'Crypto Valley'.

"This is one of the reasons why my newest venture Velas or Virtual Expanding Learning Autonomous System, is based in Zug, Switzerland," he said, although he admits that the U.S. does lead the sector in technological development. “USA still harbors tremendous talent and is generally on the cutting edge when it comes to innovation in the tech space.”

Conclusion

While a positive attitude towards growing and developing the industry is necessary, proper regulations are also required in order to ensure the safety of customers. Currently, blockchain companies can operate largely without restriction in the EU and elsewhere, often putting consumers at significant financial risk. Facebook's decision to launch a cryptocurrency attracted understandable concern due to the company’s prior bad record in securing customer data. With a user base of its size, systemic failures could result in drastic knock-on effects for the global economy. As the crypto space grows and develops, government agencies need to work alongside blockchain firms in order to establish a safe working environment for all.

Article Produced By
Aubrey Hansen

Aubrey is a Freelance cryptocurrency & blockchain Journalist as she says:

I'm a freelance journalist from Denmark, spending my time traveling between Denmark and the UK. For years writing has been my passion, and since 2015 I've been interested in the crypto and blockchain space. Over the past few years I've contributed opinions on the markets, the future of the industry and analysis to publications such as:

The Australian National Review, Irish Tech News, Crowdfund Insider, Banking Technology, Blockchain News, Cryptocurrency News, CryptoDaily

I'm always open to hearing from the innovators who are behind the next up & coming company looking to disrupt their respective industry, so feel free to drop me a line and let me know what you're up to!

https://cryptovest.com/features/eu-and-us-crypto-regulations-show-a-stark-contrast/

The Differences Between Trading Forex and Trading Cryptocurrency

The Differences Between Trading Forex and Trading Cryptocurrency

                                

Trading forex and trading cryptocurrency isn’t en either/or option.

Many traders like to do both simultaneously or switch back and forth as market conditions make one or the other more conducive to the kind of trading they enjoy. At the same time, there are those who would argue that the differences between cryptocurrencies and those traded on the foreign exchange markets are so great that you might as well compare trading in gold and buying and selling stocks and shares in tech companies.

The simple truth of the matter, however, is that forex and crypto trading are frequently conflated in the minds of traders, particularly those who don’t have as much experience of the markets. Success in one may lead a trader to dabble in the other, and any misunderstanding of the differences (as well as the similarities) between the two could lead to a disastrous trading strategy. The fact that both markets offer options such as leverage, CFDs, short term trading opportunities, longer term investment plans and arbitrage means that there is a good deal of overlap between the two, but they each offer opportunities and challenges which are completely unique.

Forex and Crypto

The most obvious difference between the two is that foreign currencies have been exchanged since as long ago as the 19th century, when the broad adoption of the gold standard set a yardstick against which the strength and weakness of a currency could be measured.  In the early days of forex trades of this kind involved physical currency, but since the late 20th and early 21st century the forex market place has been fully digital in nature, something which played a huge part in opening it up to a global army of retail investors. 

The biggest leap forward in the exchange of currencies following the creation of the digital market place came in 2009, with the launch of bitcoin, the first of the cryptocurrencies. A cryptocurrency is a form of digital money. It facilitates extremely fast, seamless transactions between parties, with no third party being involved. Because of this, the control stays completely in the hands of the person using the cryptocurrency, and they maintain complete privacy. It also means that there is no central bank, provider or government able to assert (or try to assert) control over the value of the cryptocurrency, something which makes them prone to more volatility than traditional currencies.  

This volatility is one of the clearest differences between trading forex and crypto, since it makes trading crypto more appealing in some ways but riskier in others. A huge single day shift in the value of bitcoin, for example, could earn a trader a massive amount of profit, or it could wipe out everything they have invested. The shifts in traditional currencies, on the other hand, tend to be smaller, which is why higher leverage plays such an important part in forex trading. Many of the differences between the two can be traced back to the huge disparity in the size of the respective market places. Put simply, the forex market is the biggest in the world, handling an average of more than $5 trillion in trades every single day.   The cryptocurrency market, on the other hand, is predicted to reach an overall full market value of $1.40 billion by 2024. What the size of the forex market means is that it offers a degree of liquidity, depth and security which is pretty much unmatched anywhere else.

Accessibility

Both markets can be accessed via a wide range of platforms, and any trader is strongly advised to carry out in-depth research into the platform they wish to use before actually investing any of their money. Once the right platform has been chosen, however, access is extremely quick and simple and cryptocurrency is actually slightly more accessible than forex. Forex can be accessed 24 hours a day, 5 days a week, with access limited or non-existent on the weekends. Crypto exchanges, on the other hand, can be accessed on a round the clock basis.  

Leverage

Leverage is a means via which the trader can multiply the amount they invest in a currency by, in effect, borrowing capital from the broker. A leverage of 50:1, for example, means that a trader can invest £50 and, on the strength of that investment, take up positions worth £2,500. This greatly increases the size of the profit that can be made, although it has a similar effect on the risk of any losses. Leverage as high as 500:1 can be available for forex trades, whereas the same is not true of the vast majority of cryptocurrency trades. Following the introduction of new rules by ESMA (the European Securities Markets Authority), the maximum leverage which can be offered on cryptocurrency CFDs, for example, is now 2:1 throughout Europe, with national regulators taking it in turns to follow suit.  

Risk

The risk factor inherent in both forms of trading is linked directly to the volatility of the respective markets. The fact that cryptocurrencies aren’t linked to a central provider makes them more volatile than traditional currencies. On one day in 2019, for example, the value of bitcoin slumped by 13.25%, and this was only the second biggest drop of the year. You simply don’t see this kind of dramatic movement in the forex markets. Having said that, the liquidity of the forex markets makes it easier to quickly get your hands on any profit you may have made, without the issue of having to decide whether to turn a crypto currency into a standard currency, and waiting for that to be facilitated.

Complexity

New digital currencies are constantly being launched to compete with the existing big names like bitcoin and Ethereum. Predicting which will be successful, and therefore worth trading in, is incredibly difficult, and makes any investment a long term and potentially stressful process. Forex markets, on the other hand, are based around stable and established currencies, and the art of predicting how these currencies will shift can be based on a combination of historical precedent and an analysis of the current economic and geo-political situation. Choosing whether to trade in cryptocurrencies or forex will depend upon the amount of capital you wish to invest, your appetite for risk and the type of strategy you wish to pursue. For many investors, the answer is to split their activity between the two, spreading the risk and doubling the opportunities for success.   

Article Produced By
Torsten Hartmann

Torsten has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

https://captainaltcoin.com/the-differences-between-trading-forex-and-trading-cryptocurrency/

Privacy Cryptocurrency Zcash Prepares for Friendly’ Fork

Privacy Cryptocurrency Zcash Prepares for ‘Friendly’ Fork

                             

The privacy-oriented cryptocurrency Zcash will spawn a new blockchain network called Ycash

 

In about five hours, the privacy-oriented cryptocurrency Zcash will spawn a new blockchain network called Ycash. It’ll be the first of its kind to boast a near-identical codebase to the Zcash blockchain but function as a separate network and de facto competitor. First announced in April, the effort is spearheaded by long-time Zcash supporter Howard Loo. Loo described in a Zcash forum post that Ycash was a preemptive move to resist future community decisions that may extend Zcash’s system of developer funding known as the “Founder’s Reward” beyond a promised 10 percent cap of total token supply.

“We are also launching Ycash to uphold a promise – that the Zcash Founders Reward would be forever capped at 2.1 million coins – that we fear will come under increasing pressure between now and the expiration of the Founders Reward in October 2020,” Loo wrote in the forum post. Since then, prominent leaders in the Zcash community such as founder of the coin Zooko Wilcox have publicly expressed their support of Loo’s initiative, agreeing to disagree on certain network changes to the Founder’s Reward and others that will make Ycash backwards-incompatible to Zcash. Normally, network splits of this nature actually add value to a user’s cryptocurrency holdings. This is because users are able to redeem the exact same amount of coins minted on one blockchain on the new blockchain, free of cost.

“From a speculator’s standpoint, network splits often present an intriguing investment opportunity,” said former CoinDesk markets analyst and current crypto trader Sam Ouimet. “New money often buys up the cryptocurrency being forked in order to secure his/her claims of the new coins.” Of course, the value of these newly issued coins, called YECs, on the Ycash network may be significantly lower than ZECs on the Zcash network. However, if past blockchain forks that have spawned spin-off cryptocurrencies are any indicator, coin prices shortly after a hard fork tend to take a hit and then rebound.

Take bitcoin cash for example. The world’s most popular cryptocurrency, bitcoin, forked on Aug. 1, 2017. In just four months time, the resulting cryptocurrency network dubbed bitcoin cash hit an all-time market capitalization of $69 billion with one BCH trading at roughly $4,000. The markets have since cooled considerably but the spin-off network is still ranked among the top five most highly valued blockchain networks in the world. This despite having undergone its own network split in November of last year and a presumed 51 percent attack in May. As such, for users of the near $700 million blockchain network that is Zcash, the creation of Ycash at roughly 3:00 UTC on Friday, July 19 may mark the beginning of a new source of investment returns.

But in order for users to properly take advantage of their new YEC holdings, they must ensure they’re in control of their own private keys and wallet addresses. Alternatively, they can also ensure that the exchange on which they are holding their ZEC tokens offers support for the Zcash/Ycash network split. Crypto exchanges including Binance, OKex, Coinbase and Huobi have yet to affirm support for the impending launch of Ycash. A spokesperson for Binance told CoinDesk the team would be evaluating “community feedback” surrounding the coin to determine a possible future listing.

What it means for ZEC holders

If you are a holder of ZEC, Loo tells CoinDesk one of the best ways to secure access to newly generated YEC coins is by downloading the ZEC wallet. “In order to access Ycash coins, you need to have your Zcash coins at the time of the fork in a wallet that allows you to export your private keys,” explained Loo. “One possible way to claim your coins is to download your ZEC wallet and make sure your coins are in the ZEC wallet at the time of the fork.” Some cryptocurrency exchanges have publicly announced they will be managing private keys of users to support the network split and ensure equivalent holdings of YEC once the spin-off cryptocurrency in created. These exchanges include but are not limited to SafeTrade, BigONE, Hoo and Citex.

However, for all Zcash users who have left their coins on unsupported exchange platforms, Loo says that downloading ZEC wallets not only secures a user’s holdings of YEC but actually creates “ancillary benefits” to the original Zcash network. “A ZEC wallet is a Zcash full node so now all of a sudden all of these people who were Zcash users who weren’t running full nodes are now running full nodes because they’re interested in getting their Ycash,” said Loo. Even so, Zcash Foundation Executive Director Josh Cincinnati says that management of private keys can be a risky endeavor.

Cincinnati told CoinDesk:

“It’s possible you may wind up manipulating your private key on a computer that’s connected to the internet that might have some exploit on it. That’s a tail risk. It’s unlikely something would happen but anytime where you change someone’s security model that way it’s a risk to users.”

As such, Cincinnati says that no matter the “friendly” intentions, there are always risks associated with chain “splits, forks, or anything of the sort” that users should be aware of.

What it means for everyone else

Now, for everyone else who neither holds ZEC or intends to hold YEC, the upcoming blockchain split will simply mark the creation of a new privacy-focused cryptocurrency project. Ycash at launch will differ from the Zcash blockchain in three key ways. First, Ycash will implement a tweaked version of the Equihash mining algorithm currently used on the Zcash network. This is meant to prohibit specialized mining hardware known as ASICs from mining on the newly created Ycash network.

However, in time, ASICs can be adapted to take advantage of the tweaked algorithm which is why Loo says the long-term goal for Ycash is to eventually get rid of Equihash entirely. ProgPoW and RandomX are two commodity hardware mining algorithms that the Ycash developer team is researching. Second, Ycash will implement a reduction to the Founder’s Reward rate, which awards 20 percent of block rewards to a development fund on the Zcash blockchain. On Ycash, this percentage will drop to a perpetual 5 percent and be entirely funneled to one non-profit organization led by Loo called the Ycash Foundation. This reduction to the Founder’s Reward is a key part of why Loo started the Ycash initiative.

Loo told CoinDesk:

“I started to see the writing on the wall that there was going to be some subset of the community that favors not honoring the original promise that 90 percent of the money supply be allocated to users via the free-market mining process and that key organizations of the Zcash ecosystem, including the Electric Coin Company, were likely to take that route as well.”

As such, Loo called Ycash a “preemptive move” to preserve the original promise of capping the Founder’s Reward rate to just 10 percent of all newly issued coins on the network via block rewards. The third and final difference will be a cosmetic change to the address formats of Zcash and Ycash addresses. In order to “make it impossible” to accidentally send Zcash to a Ycash address or vice versa, Loo explains that all shielded addresses (these are private addresses on a Zcash-based network) will begin with a “y” instead of a “z”. “With these bitcoin forks, there was always this concern after the fork of accidentally sending bitcoin to a bitcoin cash address,” said Loo. “To honor the spirit of a friendly fork, we put in engineering effort to change the address format … so it’s impossible to send Zcash to a Ycash address.”

What’s next

For all the preparation that has gone into this self-funded initiative to create a “Zcash-based chain that can be mined on commodity hardware and that honors the original allocation promise,” Loo gives credit for the underpinnings of the idea to the founders of the Zcash, Zooko and Nathan Wilcox. Their early writings on a pluralistic and multi-coin future, Loo argues, not only coined the term for “friendly forks” but laid the groundwork in making Ycash a reality.

Loo said:

“It’s a credit to them both philosophically and technically because of the technical groundwork they laid. This fork I hope will be safer for users than [other blockchain] forks in the past.”

Since the original unveiling of the Ycash initiative back in April, Loo and his team of developers have completed three different dry runs of the split on the Zcash test network and one privately on the Zcash main network. “Because I’m a long-term holder of Zcash, I have a vested interest in the health of the Zcash network,” said Howard. “We put a lot of engineering time in making sure the fork goes smoothly.”

Where to watch

For users who want to watch the fork in real-time, cryptocurrency markets site CoinGecko features a public countdown clock and coin price tracking chart. In addition, crypto exchange SafeTrade and blockchain analytics site BitFly are also supporting a Ycash blockchain explorer where users can track block confirmations in real-time. SafeTrade CEO Jeffrey Galloway said the main thing to watch for will be chain stability and security. “We’re looking at the stability of both chains at launch and any unusual activity,” said Galloway. “There’s a number of things you can look for. For instance, a high number of confirmations. Having a high number of transaction confirmations [is important] before you accept trades.”

A network statistic Ouimet uses to gauge network security and stability is hashrate. Hashrate is a measure of computing power being contributed by miners on a blockchain network to validate transactions and create new blocks. “I’d keep an eye on the network hashrates for both ZEC and YEC to see how much computing power leaves the original chain and transfers to the new one,” Ouimet said. The lower the hashrate is on a network, the easier a potential attacker can overtake a blockchain and meddle with transaction activity. For these reasons, SafeTrade’s Galloway says larger cryptocurrency exchanges will likely choose to begin listing Ycash as a cryptocurrency after it is clear that both the Zcash and Ycash networks are stable with high transaction confirmation counts and hashrate.

Said Galloway:

“If there are bugs in the code, they will be exploited shortly after launch. If there are bugs in the wallet, you’re going to see them exploited shortly after launch. So those are all reasons why exchanges sometimes wait a few days after launch before they list a coin.”

Article Produced By
Christine Kim

Christine Kim is a News Reporter for CoinDesk.

https://www.coindesk.com/privacy-coin-zcash-will-soon-undergo-its-first-friendly-fork-meet-ycash

 

Tips to Maximize Returns from Cryptocurrency Investments

Tips to Maximize Returns from Cryptocurrency Investments

Check out a number of things you can do to mitigate the risks and increase your profits from cryptocurrency investments     

  Are you looking to get started in the crypto investment space?

Then, you’re at the right place. Investment in cryptocurrencies is generally not recommended for conservative investors because the market is too volatile and risk involved is relatively higher than other markets.

Investment Strategy

Almost every investment professional or trader you would ask will advise you to build an investment strategy with a diversified portfolio. While portfolio diversification works in almost all types of investments, it is particularly profiting in the crypto market because of the high risk involved. This is the secret we are going to talk about today.

How to Diversify Your Crypto Investment Portfolio?

10% to 30% – Top (trending) Coins

Invest a quarter of your funds in the top coins such as Bitcoin, Ethereum, XRP, Litecoin, etc. You can find the complete list here. These are market shifter currencies whose price change very frequently. So, limit your investment in these coins to not more than 30%.

40-50% – Popular Altcoins

Altcoins are the currencies that are created as an alternative to bitcoin. Some of the popular ones include NEO, Titan coin (TTN), etc. Experts strongly believe that altcoins are most likely to outperform bitcoin and other established coins. This is because they have a strong foundation along with great growth potential, profit structure, utility mechanism, etc. There are many other similar altcoins with great potential. The risk with these coins is minimal while the return potential is high in the long term. So, most of your investment should go here.

ICOs and New Coins

There are roughly 50+ new cryptocurrencies launched every month. You can invest a part of your funds in these new currencies or ICOs. Again, rather than investing all the amount in a single coin or ICO, you should spread it across multiple projects to substantially increase the possibility of high returns.

Day Trading

Day trading is usually recommended for those who are looking for high returns in the short term. The catch is that you invest in a cryptocurrency and then sell it as soon as the price goes high. Cryptocurrencies that are highly volatile are perfect for this kind of trading. If you are going to day trade, make sure not to invest more than 10-15% of your entire portfolio, because the risk is very high in this market.

Other Tips to Maximize Your Crypto Investment Returns

  • Keep updating your portfolio on a frequent basis, usually in a month or so.
  • Invest in projects that can produce returns in the short to medium term.
  • If you trust an altcoin, don’t hesitate to hold your funds for a longer period.
  • Focus on big winnings.
  • Take profits wherever you can.

The ultimate strategy for crypto investments is to be wise in the project selection. The crypto market is still very uncertain, and there are far more bad projects than the good ones. Analyze a coin (project) thoroughly before you invest in it.

Article Produced By
Amit Gupta

Gupta is the CEO and founder at SAG IPL, an India-based technology firm providing a range of service/software solutions in the web development, design, app development, and SEO industries.

https://www.coinspeaker.com/cryptocurrency-investment-return/

Crypto Market Insights: CoinGecko Publishes Its Quarterly Report For Q2 2019

Crypto Market Insights: CoinGecko Publishes Its Quarterly Report For Q2 2019

                                    Crypto Market Insights: CoinGecko Publishes Its Quarterly Report for Q2 2019

CoinGecko, a leading cryptocurrency aggregator,

has published its 2019 Q2 Cryptocurrency Report. The 46-page report gives a comprehensive overview of the state of the crypto assets market and key events that took place in the second quarter of this year. Commenting on the report, Bobby Ong,

co-founder of CoinGecko reiterated that:

“Crypto summer is undeniably upon us as we see the industry enter the mainstream consciousness again, in part due to Facebook’s recent announcement of Libra. The release of the CoinGecko Trust Score during Consensus New York has been met with a positive response which emboldens our resolve to power our users with richer data to make better-informed decisions.”

The Second Quarter of 2019 saw a massive 125 percent increase in the overall crypto market capitalization as crypto winter gave way to the bullish summer. Notably, king bitcoin led the gainers’ table with 165 percent from $4,103 to $10,888, with a market dominance of 66 percent at press time.

Crypto Exchanges

The crypto trading platforms and exchanges have also grown significantly. A total of 302 were added in the last 18 months throughout CoinGecko’s 5-year history. Hackers have also improved their game, with top exchanges like Binance also getting hit by the rogue actors. Due to an increase in demand for more secure trading venues, decentralized exchanges (DEX) have started gaining significant traction.

CoinGecko’s Trust Score Explained

The Trust Score algorithm was built to present CoinGecko users with normalized, accurate trading volume data based on exchange traffic statistics from Similar Web and in-depth order book data. CoinGecko’s Trust Score currently comprises of two divisions: Normalized Volume and Trading Tickers.

(1) Normalized Volume according to their Web Traffic statistics via Similar Web.

(2) Trading Tickers takes into account order book spread, depth and more to determine their liquidity.

Lightning Network Gaining Adoption:

The report also talks about the development of the Lightning Network, Bitcoin’s layer-2 scaling solution. The Lightning Network’s overall capacity grew by 87 percent to over 1,100 BTC, while its node count doubled to 4,576 nodes at the end of Q2 2019.

About CoinGecko

CoinGecko’s primary objective is to provide a 360-degree overview of the crypto markets, providing users with the right information they need to succeed in the super volatile world of cryptocurrencies.

Article Produced By
News Desk

Crypto News at its finest from the fintech experts at ZyCrypto. Reach Out Via: News.Desk

https://zycrypto.com/crypto-market-insights-coingecko-publishes-its-quarterly-report-for-q2-2019/

Crypto Exchange Huobi Burns 14 Million Native Tokens Citing ‘Improved Market Conditions’

Crypto Exchange Huobi Burns 14 Million Native Tokens, Citing 'Improved Market Conditions'

                                

Huobi, a leading Singapore-based cryptocurrency exchange,

recently conducted a quarterly burning event, which reduced the overall supply of the Huobi Token (HT), the trading platform’s native cryptoasset.

Significantly More Tokens Burned this Quarter Due to “Improved Market Conditions”

According to Huobi’s management, the digital asset exchange has removed 14,011,700 tokens from the total circulating supply of 310,318,300 Huobi Tokens. Notably, Huobi’s most recent burn event has destroyed tokens at a rate that is 116% higher than the previous quarter. Explaining how the company was able to afford burning considerably more tokens, Huobi’s representatives noted that crypto “market conditions” had improved and that the company’s revenue has increased as well.

Huobi Token’s Price May Stabilize After Burning Event

Huobi Token’s price may stabilize after the token burning event, as the process helps reduce inflation by effectively removing a considerable amount of the cryptocurrency’s supply from the digital asset market. After launching the Huobi Token in early 2018, Huobi’s management has been spending 20% of its revenue each quarter to buy back the tokens from the crypto market. Because its revenue is not consistent from quarter to quarter, the exchange operator does not destroy the same number of tokens during each (quarterly) burning event.

Eight Burning Events Conducted Since April

Due to a significant growth in sales and revenue in recent months, Huobi has been able to burn more tokens each quarter. In fact, the firm’s revenues directed toward its token burning event has increased by 232% quarter-over-quarter. Since mid-April 2019, the Huobi team has conducted eight different token burning events, and has destroyed a total of 21,356,800 HTs. Notably, this amount is considerably greater than the 6,474,800 HTs the exchange bought back during Q1 2019. Huobi’s repurchased tokens are deposited at an Ether (ETH) address that is visible (shared with) to everyone. The deposit address is referred to as the Huobi “Investor Protection Fund”, as it serves as the exchange’s reserve fund. Commenting on Huobi’s quarterly token burn process, Leon Li, the Founder and CEO of

Huobi Group remarked:

There are two big trends reflecting the size of this quarter’s buyback. The first is a rapidly strengthening market for digital assets and the other is the increasing popularity of our entire product line.

Huobi’s management also revealed that many new investors had joined Huobi Prime (the exchange’s token launch program) and Huobi FastTrack . Moreover, Huobi’s derivatives markets (DM) trading desk has recorded $504 billion in trading volume during the spring (March, April, May 2019).

“Last Time Destroying Tokens Using Traditional Buyback Method”

In the coming months, updates will be made to Huobi’s Finance Chain, a public, decentralized blockchain for conducting peer-to-peer (P2P) monetary transactions. In another blog post, the Huobi team noted that the most recent token burn event “will be the last time HT tokens will be destroyed using the traditional buyback method.” Huobi’s management is also planning to use the funds generated in the HT Tiered Fee deduction program, which will allow the company to directly burn the tokens.

Huobi May Conduct Monthly or Daily Token Burns

Approximately two-thirds of Huobi’s holdings (as a company) may also be used in future token burn events, and the remaining one-third of HTs may come from the open market. Currently, Huobi is considering the possibility of performing monthly of even daily token burns – instead of quarterly. The current supply of the ERC-20 compliant Huobi Token stands at 478,643,200. The HTs may serve as deposits for customers of the exchange’s over-the-counter (OTC) desk, or to obtain access to “premium coins” via Huobi Prime. Huobi exchange users may also cast votes using the HT tokens.

Article Produced By
Omar Faridi

I enjoy writing about all topics related to Bitcoin, Blockchain, and other cryptocurrencies. The topics that interest me most are crypto regulations, quantum resistant blockchains, Ethereum and Bitcoin Core development, and scams orchestrated under the guise of ICOs. My academic background includes an undergraduate degree in Computer Science, with a minor in Mathematics from the University of Nevada, Las Vegas. I also possess a Master of Science degree in Psychology from the University of Phoenix. While completing my coursework, I engaged in independent study programs focused on public-key cryptography and quantum computing. My professional work experience includes working as an application developer for the University of Houston, data storage specialist at Dell EMC, and as Teacher of Mathematics in the United States, China, Kuwait, and Pakistan.

https://www.cryptoglobe.com/latest/2019/07/crypto-exchange-huobi-burns-14-million-native-tokens-citing-improved-market-conditions/

SimpleFX adds Monero and Ethereum Classic accounts

SimpleFX adds Monero and Ethereum Classic accounts

                                  

The award-winning global mobile-friendly trading platform

now offers accounts in 22 different currencies (including seven cryptocurrencies). SimpleFX has just released Monero and Ethereum Classic transfers. Just like other crypto accounts, they are available free of charge. Now SimpleFX traders can deposit and withdraw money using seven different cryptocurrencies: Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, and Monero.

Broker for the new generation of traders

SimpleFX was one of the first CFD brokers that offered cryptocurrency accounts and has been supporting cryptocurrency projects for years. SimpleFX

wrote in a statement,

“Our mission is to make the most of the cryptocurrency and blockchain opportunities. We believe in the community and want to give the users a broad choice of transfer services. This is the cryptocurrency spirit we have always believed in.”

The fast-growing broker with over 200,000 active traders worldwide aims at being the go-to app for the new generation of mobile-first traders. SimpleFX launched a completely new version of the WebTrader application and since then has introduced several groundbreaking features focusing on social trading, financial education and services for their affiliate marketing partners.

Profitable trades for everyone

SimpleFX demo accounts are fully functional and the live accounts can be funded with any amount as there are no minimum deposits. Thanks to easy and secure payments that can be performed in both fiat money and cryptocurrencies, everyone can access and benefit from trading with low spreads. SimpleFX offers an attractive 1:500 leverage, which opens profit opportunities to the less affluent traders. At the same time, easy stop-loss feature and negative balance protection make SimpleFX a secure tool for both experienced and novice traders.

The Best Trading App 2019

SimpleFX WebTrader won the competition for the best trading app during the Finance World Expo Summit 2019 that took place in Switzerland. The experts appreciated SimpleFX WebTrader for:

  • Great usability on mobile devices
  • Remarkable speed and reliability
  • Responding to the user needs with new features
  • The strong and growing community of users.

SimpleFX growth accelerated at the end of 2018 despite the downtrend in cryptocurrency markets thanks to the enthusiastic reception of the SimpleFX WebTrader 2.0 and the partnership with Unilink.io affiliate marketing software.

Article Produced By
Investinblockchain
Editorial Staff

https://www.investinblockchain.com/simplefx-adds-monero-and-ethereum-classic-accounts/

9 Best Cryptocurrency Exchanges for Trading Cryptocurrency

9 Best Cryptocurrency Exchanges for Trading Cryptocurrency

Cryptocurrency Exchanges for Trading

1. Binance

Binance is a rapidly growing exchange that concluded its ICO a few months back. Though it is based out of China, it doesn’t serve its native country but is open to almost all countries around the world. Since its ICO to till date, it has grown tremendously and is now placed in top 10 cryptocurrency exchanges in the world. It now has more than 140 altcoins listed on it which are only increasing as the days are passing. Binance being a centralized exchange has taken a unique take to expand its business and also provides a decent discount for day traders if they use BNB coins. BNB is Binance Coin which is the native currency of this platform.

Binance’s fee structure is also unique. To start with they have 0.1% standard trading fee which is already quite less than other peers. You can even reduce your fee further if you pay your trading fee in BNB according to the below-shown structure. To get started with Binance you need to register using your email ID and the process is quite simple & fast. Moreover, you get 1 QTUM coin as a kind gesture for registration which is limited to 10,000 QTUM coins on first come first basis. Binance is one of the few exchanges that offers mobile app for iOS and Android. Being using it for a while, I find it too easy to trade cryptocurrency while on the move. They also have aggressive plans like multi-lingual support, mobile apps for both iOS and Android users, Binance Angel Program,  and the Community Coin Per Month etc for more adoption of their platform.

2. BitMex

BitMex is high volume crypto exchange created by a talented team of economists, high-frequency traders and web developers for the crypto community. Here you will never find any issues regarding the liquidity of your cryptocurrencies. The primary currency traded on this exchange is Bitcoin and its future contracts. Apart from Bitcoin contracts, one can also play around with future contracts for altcoins such as Bitcoin Cash, Ethereum, Cardano, Litecoin, Ripple. The registration process on BitMex is quite simple where you just need to register through your email ID and their fee structure is also quite straightforward as shown below:

Coins Leverage Maker Fee Taker Fee Settlement Fee
Bitcoin (XBT) 100x -0.0250% 0.0750% 0.0500%
Bitcoin Cash (BCH) 20x -0.0500% 0.2500% 0.0000%
Cardano (ADA) 20x -0.05% 0.2500% 0.0000%
Ethereum (ETH) 50x -0.0500% 0.2500% 0.0000%
Litecoin (LTC) 33.33x -0.0500% 0.2500% 0.0000%
Ripple (XRP) 20x -0.0500% 0.2500% 0.0000%

3. KuCoin

KuCoin is another easy and hassle-free cryptocurrency exchange. KuCoin offers many popular and unique coin such as DragonChain, $KCS, and many others. Just like Binance, they offer a fully functional mobile app for Android and iOS. To get started with KuCoin, you can deposit any crypto of your choice ex: BTC and start trading. Personally, I have been using KuCoin since last quarter of 2017 and they are getting popular day by day.

4. Changelly

Changelly is one of the easiest ways to get ahold of various cryptocurrencies. Changelly has a proven track record of consistently good products being put out into the crypto-space. One of the best things about Changelly is that you don’t need to go through any lengthy verification or registration process. You just log in with your email ID (or any email ID) and start exchanging! Currently, it supports more than 35 cryptocurrencies along with fiat pairs such as USD/EUR. It is one of the best and easiest to use exchanges out there. If you want to know more, check out Harsh’s review on Changelly.

When you use Changelly to exchange cryptocurrency, Changelly bots connect in real time to some of the best and busiest cryptocurrency exchanges in the market to get you the best price. Usually, when using Changelly, a crypto-to-crypto exchange takes 5 to 30 minutes. They charge a commission fee of 0.5% on each trade, which I think is minimal in exchange for the volatility and risk that they bear on behalf of their users. In addition to the commission, a miner’s fee is also paid by the user and is deducted directly from their crypto balance.

But all you need in order to buy from Changelly is a VISA/MasterCard (credit/debit card) or any Changelly-supported cryptocurrency and a wallet where you want to receive your new coins. The procedure is very simple. Head toward CoinSutra’s Cryptocurrency Exchange – Changelly, and follow the steps given in this guide. Note: Though this guide shows how to buy Ripple in exchange for BTC, the process is exactly the same to buy any other Changelly-supported cryptocurrency. And if you want to buy cryptos using a VISA/MasterCard, then here is their official step-by-step guide on doing that. (Even though this guide is for buying BTC using a VISA/MasterCard, the process is the same as buying any other Changelly-supported cryptocurrency.)

5. Huobi Pro

Huobi Pro is an international cryptocurrency exchange that originated in China but now has moved across the world to serve a maximum number of investors. It is based out of Singapore and has been operating in this space successfully for the last five years. As we speak, it occupies the #3 spot on CoinMarketCap’s list of exchanges by volume and has 244 cryptocurrency pairs. Hence, needless to say, of this, you will never face liquidity problems on this exchange. They also have mobile apps for both Android and iOS for users who want to trade cryptos on the go. Their registration process is also pretty simple and straightforward, so go ahead and do the needful. Oh, and just so you know, the exchange fee is also pretty low. Have fun.

6. Bittrex

Bittrex is a US-based cryptocurrency exchange that provides you the option to trade more than 190 cryptocurrencies at a time. They are well-regulated and compliant with all of the current US rules, so crypto users need not worry about the safety of their funds. Bittrex handles one of the largest BTC trading volumes out of all the exchanges in the world. Here, the users (buyers/sellers) decide the rates in which they want to trade, and Bittrex charges them a small service fee for providing this platform (0.25%).

To get started with Bittrex, you need to register and log in through your email ID, but to withdraw funds, you need to do a KYC by submitting your ID documents and phone number, as well as enabling two-factor authentication for higher limits. But one good thing about Bittrex is the account verification happens quite fast.

Bittrex supports two types of accounts:

  • Basic Account – withdrawal funds worth up to 3 BTC/day.
  • Advanced Account – withdrawal funds worth up to 100 BTC/day.

Bittrex is a “crypto-only” exchange, meaning it doesn’t allow you to deposit fiat currencies such as USD, EUR, GBP, etc.

They provide access to advanced trading tools like candlestick charts and crosshairs, but the user interface is quite clean and intuitive, so newbies should have no problems.

You can visit Bittrex and open a Bittrex account by following this official step by step guide here.

 

7. Poloniex

Founded by Tristan D’Agosta, Poloniex has been operational since January 2014 and is undoubtedly one of the biggest cryptocurrency exchanges in the world. It is based out of the United States and offers +100 cryptocurrencies to its users to trade. When you talk about trade volumes, nothing beats Poloniex. In 2017, Poloniex had the highest volume for ETH because it supports an independent Ethereum market as well as a BTC market.

It is a crypto-only exchange, but you can start trading easily by depositing USDT (Tether dollars). Poloniex also has zoomable candlestick charts for 5-minutes, 15-minutes, 30-minutes, 2-hours, 4-hours, and 1-day, along with a stop-limit feature for advanced cryptocurrency traders. Poloniex charges a fee of 0.15% to 0.25% on all trades depending upon whether you are a maker or a taker. So if you are looking to trade a variety of altcoins, then you should give Poloniex a shot. To get started with Poloniex, follow this official guide. Remember: As soon as you sign up for Poloniex using your email, do make sure to enable two-factor authentication!

8. Bitfinex

Bitfinex is another one of the largest and most popular cryptocurrency exchanges out there. Based out of Hong Kong and operational since 2014, it gives its users the option to trade the following 13 cryptocurrencies in exchange for USD or BTC:

  • Bitcoin
  • Bcash
  • Dash
  • Ethereum
  • Zcash
  • Monero
  • Litecoin
  • Ethereum Classic
  • OmiseGO
  • EOS
  • IOTA
  • Santiment
  • Ripple

Update: They have added a lot more cryptos recently.

Unlike Bittrex and Poloniex, you can trade using USD (with a wire fee of at least $20). Also, users will need to pay a trade fee which varies from 0.1% to 0.8%. Also, whenever you withdrawal or deposit anything, you are charged a certain fee. On Bitfinex, if you are a pro-trader, you will find advanced trading tools such as limit orders, stop orders, trailing stop, fill or kill, TWAP, and others, along with different market charts. To get started on Bitfinex, you need to register, verify your ID, and authenticate yourself. It typically takes 15-20 business days after submitting valid ID proof before you’re accepted into the platform. And whenever you get bored with the web version or want to trade on-the-go, you can use Bitfinex’s Android and iOS mobile apps.

Using the above cryptocurrency exchanges will allow you to buy almost all of the cryptos you could ever want to buy. However, there are a few more cryptocurrency exchanges that you should have an account with, as there are a few coins that are only available there. It’s a good idea to have an account on most of these, which will save time when you discover a winning coin.

 

Some of those exchanges are:

  • Gate.io
  • Beaxy

I will update this post as I find other trustable and feature-rich cryptocurrency exchanges. For now, you can consider joining our Telegram channel to stay updated with all the latest info. I hope these insights help you in choosing the best cryptocurrency exchange for you to use.

But one word of caution:

  • Don’t use these exchanges as a wallet to HODL your cryptos.

If you are storing cryptocurrencies on these exchanges for a few hours or even a few days for the sake of trading, then it’s probably OK. Otherwise, this is a bad practice. Large-scale hacks like Mt. Gox can happen at any time. I would strongly recommend you to use the Ledger Nano S or a wallet like Exodus, where you can store a lot of different cryptos and control your private keys. So now it’s your turn to tell me: Which one of these exchanges do you like the best? Also, what’s another great exchange that I haven’t listed here? Let me hear your thoughts in the comments below!

Article Produced By
Harsh Agrawal

An award-winning blogger with a track record of 10+ years. An international speaker and author who loves blockchain and crypto world.After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.Join us via email and social channels to get the latest updates straight to your inbox.

https://coinsutra.com/best-cryptocurrency-exchanges/

Tron’s DAU Highs but will TRX Respond and Rally?

Tron's DAU Highs but will TRX Respond and Rally?

Tron (TRX) prices drop 3.5 percent

Platform registers new dApp DAU highs

Tron’s superior dApp count and DAU is the reason why Misha Lederman, the network’s advisor of the Dapp Evolution Ecosystem is upbeat. Regardless, TRX prices are under pressure but technically bullish above 3.1 cents.

Tron Price Analysis

Fundamentals

Misha Lederman is a Tron and TRX bull. He’s an ardent supporter as well a certified protector of the network. While Justin Sun has his fair share of criticism, what Tron represents and strive for cannot be dismissed. Adopting a delegated proof of stake consensus algorithm and introducing super representatives, their network is scalable and fast.

However, Tron’s value proposition lies not in their throughput but their TVM. Launched less than three quarters ago, it is compatible with Ethereum’s, and the icing on the cake is perhaps their irresistible offers. Because of that and incentives as Tron Arcade, for example, some projects did shift camps, migrating from Ethereum and settling for speed and scalability. Add that to the successful acquisition and tokenization of BitTorrent, and it is not hard to see why Misha is optimistic. In his latest tweet, he said Tron’s superior dApp and daily active user count is a testament enough of their superiority over competitors and that the platform’s potential is only beginning to show.

Nonetheless, Ton (TRX) is under pressure, dropping 3.5 and 4.3 percent in the last day and week. All the same, technical candlestick arrangements are supportive of bulls. From our previous TRX/USD trade plan, the asset is trending within a bullish breakout pattern as TRX prices oscillate within a 1 cent range with caps at 2.1 cents and 3.1 cents on the upside. Currently, prices are ranging at around the breakout level at 2.5 cents, which is neutral but bullish.

However, it is after there is a sharp move above Apr-30 highs confirming the double-bar bullish reversal pattern ofApr-25-26 that traders can begin loading up with tight stops at Apr-30 lows and targets at 3.1 cents. However, for trend continuation, prices must close above the consolidation at 3.1 cents as buyers of late Dec 2018 flow back.

Technical Indicator

As aforementioned, Tron (TRX) is flat, trading at 2.5 cents. Even so, buyers are in control as long as prices are above 2.1 cents or Jan-14 lows. Accompanying the next wave towards 3.1 cents must be high volumes exceeding 13 million of Apr-25 as laid out in our last TRX/USD trade plan. Conversely, losses below 2.1 cents must be with equally high volumes.

Article Produced By
Dalmas Ngetich

https://www.newsbtc.com/2019/05/04/trons-dau-highs-but-will-trx-respond-and-rally/

Why Nano-Cap Vislink Technologies Is Ripping Higher

Why Nano-Cap Vislink Technologies Is Ripping Higher

Shares of Vislink Technologies Inc VISL 318.67%,

a global wireless communications solutions provider, were skyrocketing on above-average volume Wednesday. 

What Happened

Vislink announced a $2.8-million contract Wednesday that it won with the U.S. Army to supply intelligence, surveillance and reconnaissance receiver devices. "We are honored that Vislink continues to be a trusted partner to our armed forces, and this latest contract underscores our ability to meet their most stringent requirements," COO John Payne said in a statement. 

Why It's Important

Vislink has had several positive catalysts in recent months. In early June, the company said it bagged $650,000 in orders for HD airborne downlink system equipment and related services from law enforcement agencies in California and Minnesota. The company said in late May that it regained full compliance with all applicable listing requirements of the Nasdaq Capital Market. The recent U.S. Army contract represents about 7% of Vislink's annual revenue of $37.9 million in 2018. At last check, Vislink shares were soaring 331.31% to $7.12 at the time of publication Wednesday.

Article Produced By
Shanthi Rexaline

Benzinga Staff Writer

 

https://www.benzinga.com/news/19/07/14054045/why-nano-cap-vislink-technologies-is-ripping-higher