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Polkadot Ready for Kusama Parachain Auctions

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptobriefing.com/polkadot-ready-kusama-parachain-auctions/

Blockchain

Dogecoin lessons? Why one shouldn’t ‘dismiss a good meme’

There are 5350 cryptocurrencies listed on Coinmarketcap. Just nine years ago, there was only Bitcoin. After Bitcoin came alts, and then ICOs. Non-fungible tokens (NFTs) and decentralized finance (DeFi

The post Dogecoin lessons? Why one shouldn’t ‘dismiss a good meme’ appeared first on AMBCrypto.

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There are 5350 cryptocurrencies listed on Coinmarketcap. Just nine years ago, there was only Bitcoin. After Bitcoin came alts, and then ICOs. Non-fungible tokens (NFTs) and decentralized finance (DeFi) have seen a huge explosion in growth in the last year particularly.

While there are so many listed on CMC, will each of these tokens survive in the coming years? This was one of the topics of discussion in a recent Bloomberg TV interview with Coinbase‘s co-founder.

Fred Ehrsam, the former Goldman Sachs exec was quick to respond to this topic. He stated:

“People are going to try all sorts of things. There’ll be millions and millions of cryptocurrencies and crypto-assets, just like there were millions and millions of websites. Most of them won’t work.”

Ehrsam had similar sentiments about the hot trending NFTs within the crypto industry. he drew parallels to the early internet companies from the late 1990s and NFTs. He stated:

“I go so far as to say that 90% of NFTs produced, they probably will have little to no value in three to five years. You could say the same thing about early internet companies in the late ’90s too, though.”

The timing of such a bold statement is quite strange. Especially considering the massive interest NFTs have seen. Most recently, a pixelated digital figure, known as CryptoPunk #3100 sold for $7.58 million making it the second most expensive NFT ever, behind artist Beeple’s digital artwork. NFTs have seen a major boom in the music and fashion industries as well with various artists publicly supporting it.

But what changed since 2017? Here’s what Ehrsam said on this topic:

“The thing that changed in 2017 is all of a sudden the doors opened to much broader applications. Ethereum came on the scene and showed that blockchain-based applications were possible to build … I think over time we’ll see mainstream consumer apps, and perhaps NFTs are a weird ‘bleeding edge’ of exactly that.”

Moving on from one buzzword to another, Ehrsam spoke about  Dogecoin as well. He stated:

“If crypto has taught us anything, it’s never to dismiss a good meme that couldn’t later manifest into more concrete progress.”

Future of the crypto industry

Even though he criticized the different bubbles within the crypto market, he remains optimistic about Bitcoin and other ‘meaningful’ cryptocurrencies.  He added:

“The world doesn’t change overnight, but you can see the seeds of exponential growth occurring already. So I do think we will live in a future where for us to coordinate, we won’t need these centralized platforms today. That’s already true of financial services, in that you can be your own bank. You don’t need a central institution to hold your money anymore.”


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Source: https://ambcrypto.com/dogecoin-lessons-why-one-shouldnt-dismiss-a-good-meme

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Blockchain

CoinEx — A Convenient Global Digital Coin Exchange

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CoinEx is a digital asset trading platform that caters to both beginner and professionals traders. The platform combines the best practices and advanced technical features to satisfy the needs of different users.

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As the cryptocurrency market is on the rise, traders and experienced investors are looking for reliable and comprehensive trading platforms where they can safely buy and sell coins. 

Unfortunately, a vast majority of cryptocurrency exchanges target only a narrow audience, their teams do not strive to make the platforms truly convenient for everyone. 

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Cryptocurrency exchange CoinEx is an exception here. Let’s have a closer look at what makes it stand apart from the crowd.

Overview of CoinEx main features

CoinEx is a digital asset exchange founded in 2017. At the end of May 2021, the platform ranks at number 55 in the CoinMarketCap based on the total trading volume in the spot market.

Important facts about CoinEx:

  • Number of listed cryptocurrencies:  264
  • Number of trading pairs: 497
  • Traffic ranking among the spot digital assets market: 41
  • Supported languages: Russian, English, Chinese (Mandarin and Traditional), Japanese, Korean, Indonesian, Turkish, Spanish, Vietnamese, Arabic.
  • Trading without registration: **No
  • Buying cryptocurrency for fiat:  ***Yes
  • Privacy mode: ****Yes
  • Multi-language support attracts users from all over the world and thus helps to increase liquidity. 

** You have to register an account before you can start trading. The procedure is simple and straightforward: users are asked to provide their email and phone number (the system will send an SMS with the verification code). Also, the phone number can be used for activating two-factor authentication.

*** The exchange partners with several payment service providers that allow buying crypto for fiat. For example, you can buy bitcoins through Simplex or MoonPay, Advcash, Paxful. Each system has its limitations. The minimum deposit is the equivalent of $100. In total, CoinEx allows buying crypto for 32 fiat currencies, including the US dollar and the euro.

**** Several limitations apply to unverified accounts. See more details below.

CoinEx displays prices in a user base currency, for example, in US dollars, rubles, or Swiss francs. The exchange has a simple interface, and instruments for professional trading, including various technical indicators.

CoinEx interface. Source: CoinEx Exchange

CoinEx has a mobile app for Android and iOS. As stated on the official website of the project, the exchange serves customers from over 100 countries around the globe.

Recently, the developers released a new interface that allows users to track prices and trading volumes of cryptocurrencies.

Also, the platform has handy filters to sort the assets and parameters. For example, using favorite tags, you can quickly find DeFi projects or NFT tokens.

Additionally, the developers added information about market trends and analytics tools for the referral program.

CoinEx fees

The fees depend on trading volumes and the amount of CoinEx native currency, CoinEx Token (CET), held by the user. Below are the trading fees based on the amount of CET parked on the account:

CoinEx fees. Source: CoinEx official website

Also, the fees depend on the user’s trading volume. The system calculates data every month.

CoinEx fees table. Source: CoinEx official website

Refer to the official website to learn more about trading platform fees, including deposits and withdrawal charges.

CoinEx referral program

The exchange pays its users if someone registers with the platform via their referral link. You can find it in the “account” section on the top panel of the platform, in the “referral reward” field.

CoinEx pays up to 40% of the commissions received from the invited users. However, the actual percentage depends on the number of CET tokens held on the inviter’s account:

  • VIP0 – up to 1000 CET – 15%;
  • VIP1 – from 1000 to 10,000 CET – 20%;
  • VIP2 – from 10,000 to 100,000 CET – 25%;
  • VIP3 – from 100,000 to 500,000 CET – 30%;
  • VIP4 – from 500,000 to 1,000,000 CET – 35%;
  • VIP5 – from 1,000,000 CET – 40%.

Invitees can set the percentage of cashback they want to share with the people they invited. For example, if a user with VIP3 has set a 5% cashback, then the fee will look like this:

  • 25% to the inviter;
  • 5% to the invitee.
  • Also, users can create up to 20 referral links and set a different percentage of cashback for different friends.

At the time of this writing, the platform’s top referrals by aggregate income are:

CoinEx referral program income

It is important to mention that the inviter will receive the referral fees for one year after the registration. To get payments for an unlimited time, you should register in the ambassador program. CoinEx Ambassadors receive up to 50% commissions and up to $500 for marketing assignments.

Cryptocurrency exchange security

CoinEx uses a variety of tools to ensure that users’ assets and personal data are secure. for example, the exchange offers two-factor authentication that can be activated during the registration process.

TOTP authentication, anti-phishing codes, and transaction confirmation tools can also be used to enhance security. You can find them in the account settings section.

There is no information about CoinEx.com hacks. It confirms the efficiency of the tools and strategies employed by the team to ensure users’ security.

Verification levels

Mobile phone numbers and email addresses are all you need to start working on CoinEx. However, the level of verification defines the limits applicable to the user account.

For example, a verified phone number and email allow withdrawing up to $10,000 per day. To raise the limit to $1,000,000, you need to verify your ID. The account status is shown under the Account Level section.

What users say about CoinEx

In most cases, traders are positive about CoinEx. They love fast system operation, low fees, user-friendly interface, and efficient customer support.

Most of the critical comments are centered around a small list of tokens available on the platform as compared to other popular exchanges.

However, CoinEx believes that this approach ensures better focus on the most liquid coins instead of wasting energy on fly-by-night projects that regularly appear on the market and often create risks for investors.

Communication channels

The CoinEx team strives to get regular user feedback. For that matter, the developers launched several communication channels. For example, you can get answers to questions on the platform’s official website in a dialog box. Also, users can get in touch with the team via social media platforms. Below are the most popular communication channels used by the exchange:

CoinEx ecosystem

The CoinEx developers have chosen an integrated approach. Instead of focusing on a digital asset trading platform, they created a comprehensive suite of complementary projects. Apart from the trading platform, the ecosystem includes:

  • CoinEx Smart Chain. The CoinEx Chain team recently announced the transition from CoinExChain to CoinEx Smart Chain.
  • ViaBTC Mining pool. One of the largest platforms for mining digital assets.
  • ViaWallet/ decentralized multicurrency crypto wallet. It can be used to store digital assets and make transactions.

CoinEx has official APIs that can be used to integrate the company’s products into user platforms.

CoinEx also offers passive income via Financial Account and Automated Market Making (AMM).

Users can deposit money into the CoinEx liquidity pool for automated market making. 50% of the trading fees are distributed among all liquidity providers on a pro-rata basis.

For example, the ONES/USDT market generated trading fees of 1000 USDT. If the user contributed 10% of the liquidity to the pool, they would receive 1000*50%* * 10%=50 * 10% = 50 USDT as a payout. (For CET trading pairs, users can receive 100% commissions).

A financial account allows earning passive income by providing loans for margin trading. As of May 21, the 7-day APY on USDT was 13.3%.

Final thoughts

Despite some minor shortcomings, the CoinEx exchange deserves attention for several reasons, among which the following can be distinguished:

There is no information on coinex.com security breaches. The developers have provided users with all the tools they need to protect their accounts and assets.

CoinEx exchange is easy to use. The platform has all the necessary tools for professional trading.

On CoinEx, you can buy a cryptocurrency for rubles and tenge.

The developers used an ecosystem approach. The project offers a wide range of complementary digital asset products.

CoinEx supports anonymous trading. Email address and phone number are all you need to start trading.

CoinEx has a fully functional mobile application.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Source: https://beincrypto.com/coinex-a-convenient-global-digital-coin-exchange/

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Blockchain

Bitcoin (BTC) Has Roller Coaster Weekend, Revisits Crucial Support

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Bitcoin (BTC) decreased considerably last week, approaching the May lows near $30,000.

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While a short-term bounce could occur, it seems that both the daily and weekly trends are bearish.

Long-term bitcoin movement

The weekly BTC chart provides a bearish picture. Bitcoin appeared to have begun a bullish movement two weeks ago after creating a bullish hammer candlestick with a long lower wick. The bounce occurred right at the $32,500 long-term horizontal support area (green icon).

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However, it created a bearish candlestick last week, engulfing the previous bullish candle and negating the bullish sentiment.

Despite still trading above support, technical indicators are bearish. The MACD histogram has crossed into negative territory, the RSI has fallen below 50, and the Stochastic oscillator has made a bearish cross.

If a breakdown occurs, the next support would be found at $27,000. This target is the 0.618 Fib retracement support level.

BTC Horizontal support
BTC Chart By TradingView

Ongoing rejection

The daily chart also provides a bearish outlook. BTC has been falling since it was rejected by the $41,250 resistance area on June 15 (red icon). 

Technical indicators are bearish. The MACD histogram has given a bearish reversal signal (red icon) and its signal line is well below 0. The RSI is also below 50 and decreasing, and the Stochastic oscillator has made a bullish cross but has lost all of its strength.

These readings support those from the daily time frame in suggesting that BTC is expected to eventually break down.

BTC rejection
BTC Chart By TradingView

The two-hour chart shows some bullish signs in the form of a bullish divergence in both the RSI and MACD during the most recent lower low. Following this, BTC created a higher low. 

However, it’s facing strong resistance from the $35,000 area in the form of both a descending resistance line and a horizontal resistance level. 

Breaking out above this level would indicate that the price is likely heading towards the 0.382, 0.5, or 0.618 Fib retracement resistance levels. 

Nevertheless, this would most likely be just a short-term bounce in a longer-term bearish trend.

BTC short-term resistance
BTC Chart By TradingView

BTC wave count

The wave count shows that BTC is likely in cycle wave four (red) of a bullish impulse that began on Dec. 2018. It is now decreasing, potentially completing a fourth wave pullback. The wave count is given in white. It indicates that BTC is likely still in the first part of the correction.

The 0.618 Fib retracement support level is at $27,000, while the resistance line of the channel near $20,000.

A move that lasts as long as cycle wave two (red) would continue until the end of December 2021. However, other potential length ratios are the 0.382 and 0.618 Fib time levels. The former ends on July 19 while the latter on Sept. 20. 

A decrease below the wave 1 high at $13,880 would invalidate this wave count.

BTC long-term
BTC Chart By TradingView

The daily chart shows the sub-wave count in orange. It shows that BTC is in the fifth and final wave of a bearish impulse, that completes wave A. 

There is a confluence of Fib targets between $23,500 and $23,070, found by the length of sub-wave 1 and an external retracement on sub-wave four. 

If this fails to play out, the next most likely target would be $19,800, found by using a Fib projection on the length of sub-waves 1-3.

Daily wave count
BTC Chart By TradingView

While the very short-term wave count is not entirely clear, the downward movement looks impulsive. In addition, the upward movement that led to the $41,341 high looks corrective. 

Therefore, it’s likely that BTC is in minor sub-wave one (black) of a bearish impulse that will gradually take it towards the previously outlined target near $23,000. 

Bearish impulse
BTC Chart By TradingView

For BeInCrypto’s previous bitcoin (BTC) analysis, click here.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo.
In 2019, he decided to focus full-time on cryptocurrencies and trading.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/bitcoin-btc-has-roller-coaster-weekend-revisits-crucial-support/

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Malta Investigated for ‘Lax Oversight’ on Crypto Transactions

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Malta has reportedly been singled out by the FATF for its lax oversight on cryptocurrency transactions, according to local media reports.

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The Times of Malta reports that approximately €60 billion in cryptocurrencies have moved through Malta. The country is a haven for cryptocurrency enthusiasts and businesses, as it has introduced several favorable regulatory frameworks for economic growth.

Malta under fire

The report notes that global experts have reviewed Malta’s anti-money laundering checks by the influx of crypto into the country has been deemed “problematic.” Officials from the Financial Action Task Force (FATF), a global body that deals with regulation to prevent financial crimes, said that the country should be on a list for not doing enough to counter financial crime.

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The FATF officials seemed to have flagged Malta as such because of its quick decision to become a cryptocurrency hotbed. Maltese officials have defended their decision, saying that all the necessary regulation has been put in place. Furthermore, they said that the monetary amount is only 2% of global annual transactions.

Sources told the publication that the FATF officials saw weaknesses in the country’s setup, while those from the country said that none of the cases in question were major. One key problem that was mentioned was the lack of oversight in the exchange of assets.

Malta’s decision to support the cryptocurrency industry by designing friendly regulations following the 2017 boom, led to it becoming known as the blockchain island. Many major names in the cryptocurrency industry have set up shop in the country, including Binance and OKEx — two of the world’s largest exchanges by trading volume.

Global regulation underway

The meeting between Malta and the FATF is proof that authorities are now working on a global plan to regulate cryptocurrency. For many years, authorities, even those from major countries like the United States, had been holding back on regulation. But landmark decisions and statements from high-level officials indicate that will all change in the coming years.

Most notably, the United States has hinted that it will develop a broad framework for cryptocurrency regulation, courtesy of the Biden Administration. Senator Elizabeth Warren has also spoken of CBDCs, which the U.S. is yet to officially announce.

Meanwhile, China is shutting down mining operations in various provinces while it gears up for the launch of its own CBDC, which is one of the most experimented with in the world. Europe, on the other hand, is seeing several countries develop their own CBDCs while the European Central Bank touts the benefits of a digital euro over private alternatives.

At the same time, securities regulators like the U.S. SEC and the Ontario Securities Commission are cracking down on projects and exchanges that may be violating securities laws. This comprehensive push for regulation is a sign that the market may be in for some stern consequences — but perhaps not draconian laws that could have a damning impact.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Rahul Nambiampurath is an India-based Digital Marketer who got attracted to Bitcoin and the blockchain in 2014. Since then, he has guided a number of startups navigate the complex digital marketing and media outreach landscapes. His work has even influenced distinguished cryptocurrency exchanges and DeFi platforms worth millions of dollars. He has a Masters degree in Finance.

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Source: https://beincrypto.com/malta-investigated-lax-oversight-crypto-transactions/

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