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Litewallet Integrates .crypto Domains to Simplify Transactions

The official Litecoin Wallet for Android, “Litewallet” will integrate .crypto blockchain domains. This will allow Litewallet’s users to send cryptocurrencies to human-readable addresses supported by .crypto domains [ex: my-name-is-here.crypto]. This was announced by Unstoppable Domains, a company building blockchain domain names. The integration with the Litecoin Foundation coincides with Unstoppable Domains’ unveiling of their App Store feature. […]

The post Litewallet Integrates .crypto Domains to Simplify Transactions appeared first on TheCoinsPost.

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YFI Coin, the native token of the Decentralized Finance Yearn Finance (YFI) platform has eclipsed Bitcoin’s value and posted a new all-time high of $38,655 (around 3.2BTC).

YFI coin price on Binance

YFI coin soared by 17% in the last 24 hours from around $26k to $38K, reaching a new time high providing rapid returns for its investors.

The Decentralized Finance (DeFi) project of Yearn Finance was officially released around the 17th of July by Andre Cronje, YFI coin was trading for around 7k. The DeFi platform aggregates lending services such as Aave, Compound, DyDx and Fulcrum in a bid to simplify the process of Yield Farming.

YFI platform allows users to to provide funds to vaults, which automatically rotate them between dydx, Aave and Compound lending protocols, in search of the best yield. The entire process is managed by a smart contract and is fully automated.

The yield providers earn profits for staking their funds, as well as acquiring YFI tokens. This allows them to participate in governance and vote on important parameter changes. It can also be sold on exchanges for profit. The total supply is capped at 30,000 YFI tokens.

YFI/USD Price Chart

Source: https://www.thecoinspost.com/litewallet-integrates-crypto-domains-to-simplify-transactions/

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SBI Offers XRP as Gratuity For Obtaining Tokens in Its Upcoming STO

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SBI, which is a major Ripple partner in Japan, has recently offered gratuity payouts in XRP to its customers if they take part in the new STO of the company. The Chief of the SBI group, Yoshitaka Kitao, has recently shared a link to the press release of the firm regarding the new offering of the SBI partly related to XRP.

SBI to Acquire Tokens in Upcoming STO, Offers Bonus

SBI is a major Ripple partner in Japan. However, they have put up a situation that they will only be doing so if the customers will be taking part in the new security token offering of the company.

The SBI Group, headquarters of which are in Tokyo, are intended to conduct a security token offering of its digital corporate bonds on April 20.

In addition to this, the firm will be providing a bonus in XRP to its investors, the quantity of XRP given away will be equal to the number of digital securities bought by each investor. 

The security tokens for the offering are going to be launched on Ibet, a blockchain platform.

End-Year Bonuses in XRP

In a report shared earlier this year, it was revealed that the financial group has made an offer of giving end-year bonuses in XRP to the shareholders of the company.

Well, if you are having trouble understanding what it really means, try understanding it this way. 

Those shareholders who have 100 or more than 100 shares will be entitled to 2,500 yen worth of the native coin of Ripple, XRP which in US Dollars, is equal to $23.

However, in addition to this, it should also be known that the exact amount of XRP tokens being given away is going to be determined based on the price of XRP on June 30.

READ  Ripple (XRP) Update: Spark Token Airdrop, Flare Finance’s Beta Program

#SBI #STO #Tokens #XRP

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Source: https://www.cryptoknowmics.com/news/sbi-offers-xrp-as-gratuity-for-obtaining-tokens-in-its-upcoming-sto

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Coinbase Addresses Future Revenue Concerns With Plans to Become Crypto’s Amazon

A well-received Nasdaq debut from Coinbase last week opens what many hope to be crypto’s cross into the mainstream. Nonetheless, controversy has surrounded its IPO, including valuing the firm on a fully diluted basis. Using this methodology, a higher number of shares is included in the company valuation, essentially overvaluing the company by some $20bn. […]

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A well-received Nasdaq debut from Coinbase last week opens what many hope to be crypto’s cross into the mainstream. Nonetheless, controversy has surrounded its IPO, including valuing the firm on a fully diluted basis. Using this methodology, a higher number of shares is included in the company valuation, essentially overvaluing the company by some $20bn.

But perhaps the biggest controversy lies in Coinbase’s ability to maintain and extend its profitability going into the future. With concerns that high spreads and trading fees will see a race to the bottom as the competition heats up, some analysts have warned against investing in $» Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>COIN.

Coinbase CEO Brian Armstrong said he plans to increase the firm’s product lineup over the next five to ten years in a bid to combat these concerns.

Coinbase hourly chart

Source: COINUSD on TradingView.com

Analysts Sound Alarm on Coinbase Future Profitability

In the run-up to last week’s IPO, Coinbase released its Q1 2021 figures, revealing an impressive set of numbers. Highlights include $1.8bn revenue and the doubling of its monthly active user base to 6mn.

Its biggest money-spinner is trading fees, which came in at $1.1bn and accounted for 86% of its total revenue last year. This equates to 0.57% of every transaction.

“In 2020, Coinbase collected about 0.57% of every transaction in fees, which totaled $1.1 billion in trading revenue on $193 billion in trading volume. These trading fees made up 86% of revenue in 2020.”

But competition from the likes of Kraken, Gemini, Bitstamp, and Binance, will see trading fees fall away in a race to the bottom. Some analysts have pointed out, based on Q1 2021’s figures, this is already in motion.

“If we assume a similar breakdown of Coinbase’s reported $1.8 billion in total revenue in the first quarter of this year, trading fees would equal around $1.5 billion on $335 billion in trading volume, or about 0.46% of every transaction.”

To address this, Coinbase CEO Brian Armstrong said he expects 50% of the company’s revenue to come from non-trading sources over the next five to ten years. But is this a reasonable expectation?

The Amazon of Crypto

Speaking to Laura Shin, Gil Luria, the Director of Research at D.A. Davidson, said the goal is to generate more revenue in custody and managed staking. But he conceded that this wouldn’t happen overnight.

In terms of achieving the switch to 50% of revenue from non-trading sources, Luria was confident that Coinbase could pull this off. He likened this situation to what Amazon has managed to pull off since its IPO.

In 1997, Amazon was an online bookseller. Not only did it diversify into selling anything and everything, but the firm also helped other people sell, moved into entertainment with Prime, and set up a cloud business.

“Jeff Bezos may have imagined it but we sure didn’t. We just knew Amazon was way ahead of the pack. They had tremendous leadership and they were so customer-centric, which was the absolute key to their success. And I see a lot of parallels with Coinbase.”

By understanding the crypto game and being open to working with regulators, Luria thinks Coinbase is in a good position to bring to market more products to replicate what Amazon did.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.newsbtc.com/news/coinbase-addresses-future-revenue-concerns-with-plans-to-become-cryptos-amazon/

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Digitex Launches Spot Exchange

[Featured Content] With the current bitcoin bull run and greater institutional support, more people than ever are entering the industry, and more products are being introduced to accommodate this growing demand. One of the latest of these comes from Digitex, a commission-free exchange. The firm has announced on April 15, 2021, that its new spot […]

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With the current bitcoin bull run and greater institutional support, more people than ever are entering the industry, and more products are being introduced to accommodate this growing demand.

One of the latest of these comes from Digitex, a commission-free exchange. The firm has announced on April 15, 2021, that its new spot market has formally launched. In a bid to make the trading experience easier for new members and benefit existing ones, their new spot exchange allows the buying of DGTX directly as well as other popular cryptocurrency pairs.

Details About the Digitex Spot Market

As part of the launch, six new trading pairs have been introduced: DGTX/BTC, DGTX/ETH, ETH/BTC, BTC/USDC, ETH/USDC, and DGTX/USDC. There are many suggested benefits to spot markets, including for those that are not interested in futures trading.

This type of customers can make as many transactions as they want and will not have to incur any fees while doing so. Digitex also allows users to withdraw their funds at no additional charge. The crypto market is a volatile one, and while this might make it unpredictable, it also makes it an exciting one to capitalize on. Digitex users can now take advantage of it using a single exchange wallet.

Following their principle of respecting users’ privacy, no KYC is required for customers to carry out their transactions, but they are currently running a special offer for new customers to receive $25 upon completing their KYC.

According to  Digitex CEO and founder Adam Todd, these new measures are designed to make the customer experience as seamless as possible, and this is in line with the company’s philosophy.

“We want to offer our traders an experience they won’t find anywhere else. So, not only have we removed ALL fees, zero trading, and zero withdrawal fees, but we’ve also really improved our UX and UI on this latest release. By allowing traders to trade cryptocurrencies and futures from one universal wallet, they can interact with our markets in a faster and more convenient way that’s delivering real value to users,” he said.

Digitex’s current futures trading option was introduced almost a year ago in July 2020 and was designed to allow high-frequency transactions without users having to pay fees on every one of them. This has proven to be a resounding success so far, with a record  22 billion contracts processed in a 24-hour period. The exchange has also maintained its zero-fee trading model by leveraging its native DGTX token, which is used for the payout of profits and losses.

Ultimately, Digitex is taking the initiative to serve the relatively new crypto market that will only get bigger over time. Not only this, but players in the market will want to make transactions with as few fees as possible and as quickly as they can.

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Source: https://cryptopotato.com/digitex-launches-spot-exchange/

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TIME Magazine to Receive Cryptocurrency Payments for Digital Subscriptions

TIME Magazine has partnered with Crypto.com to enable its users to purchase digital subscriptions using bitcoin and other cryptocurrency assets.

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TIME Magazine has doubled down on its cryptocurrency endeavors by enabling bitcoin and other assets to be used as a form of payment for digital subscriptions. The innovation comes a few weeks after the New York City-based magazine partnered with Grayscale to produce educational crypto videos and be paid in BTC.

TIME Readers to Purchase Subscriptions With Crypto

With the first issue released nearly 100 years ago, TIME Magazine is among the largest and oldest news magazines and websites in the US. The company announced earlier today its second cryptocurrency-related partnership in a week.

By collaborating with the popular digital asset exchange CryptoCom, TIME will begin accepting crypto assets as instruments of payments for its digital subscriptions.

Readers who choose this option will “receive unlimited access to content across Time.com for 18 months with their one-time purchase, as well as subscribed-only events and offerings.”

Initially, only subscribers based in the US and Canada will be able to pay with cryptocurrencies, but the two parties plan to expand it to other countries by the end of the year.


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As part of the partnership, users selecting to pay with CryptoCom’s native digital asset – CRO – will receive Pay Rewards of up to 10% back.

Following the announcement, a spokesperson from CryptoCom told CryptoPotato that the company is “always looking for new and innovative partnerships that advance our mission of accelerating the world’s transition to cryptocurrency.”

TIME to Hold Bitcoin

Shortly before the aforementioned developments, TIME collaborated with the largest digital asset manager – Grayscale – to produce a new educational video series about cryptocurrencies.

What’s perhaps even more notable is the payment method. Upon making the announcement, Grayscale’s CEO Michael Sonnenshein informed that TIME and its CEO – Keith Grossman – have agreed to be paid in bitcoin.

Moreover, TIME will hold the received BTC on its balance sheet, thus joining the likes of MicroStrategy, Tesla, and many more.

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PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/time-magazine-to-receive-cryptocurrency-payments-for-digital-subscriptions/

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