Cardano NFT gaming engine Revelar to integrate COTI’s Djed stablecoin » CryptoNinjas

Cardano NFT gaming engine Revelar to integrate COTI’s Djed stablecoin » CryptoNinjas
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COTI, a multi-DAG (directed acyclic graph) blockchain for payments, announced today a new partnership with Revelar, Cardano’s first NFT gaming platform.

The partnership will see Revelar integrate COTI stablecoin Djed to bring a stable way to buy and sell NFT game assets on the Revelar system. Further, the Djed stablecoin will enable participation in new tokenomic models.

“Our partnership with Djed will open up massive partnerships opportunities for game developers who want a simple integration and a stable way for their players to manage in-game tokens. Play-to-earn is the new wave in gaming and player owned content has now become table stakes.”
Jason Toevs, Founder & CEO of Revelar

Revalar’s integration with Djed is part of the platform’s larger push to bring new NFT payment options, including fiat-backed payment integrations to Cardano.

“We are happy to continue partnering with some of the top projects built on Cardano. By integrating Djed to their platform, Revlar is giving their developers and gamers more stable payment options. We look forward to watching this partnership unfold.”
Shahaf Bar-Geffen, CEO of COTI

Presently, Revelar is in closed Alpha and will soon open up applications for their first launchpad cohort to be selected this summer.

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Ethereum Dev Says The Merge Could Be Delayed a Few Months, ‘Strongly Suggests’ Not Investing in ETH Mining Rigs – Bitcoin News

Ethereum Dev Says The Merge Could Be Delayed a Few Months, ‘Strongly Suggests’ Not Investing in ETH Mining Rigs – Bitcoin News
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According to Ethereum developer Tim Beiko, The Merge is likely to be pushed to the third quarter of 2022. Despite the delay, Beiko also said he “strongly suggests not investing more in mining equipment at this point.”

The Merge May be Delayed, Ethereum Hashrate Taps New ATH

Four days ago, Bitcoin.com News reported on ethereum miners hashing away at the blockchain at great speeds just before The Merge happens. The Merge is the name of Ethereum’s upcoming transition from proof-of-work (PoW) to a full proof-of-stake (PoS) system. On April 7, 2022, Ethereum’s hashrate tapped an all-time high (ATH) at 1.131 petahash per second (PH/s).

Today, Ethereum’s hashrate reached another ATH at 1.148 PH/s, according to metrics stemming from the three-month chart hosted on coinwarz.com. The day prior, in a Twitter thread, Ethereum developer Tim Beiko published a core developers update.

Tim Beiko: ‘We’re Definitely in the Final Chapter of PoW on Ethereum’

In the Twitter thread, Beiko was questioned by an individual about Ethereum miners who have been securing the network. The individual asked the Ethereum developer if miners would be “left out to dry.”

Beiko responded to the person and explained that he would not invest in any mining devices going forward. “I would strongly suggest not investing more in mining equipment at this point,” the Ethereum developer tweeted. Then the individual asked if developers planned the “plug pull” for June or if the ether mining community has more time. Beiko also replied to that question as well and said:

It won’t be June, but likely in the few months after. No firm date yet, but we’re definitely in the final chapter of PoW on Ethereum.

The statements imply that ether miners will have some more time until The Merge’s “plug pull.” Ethash miners (Ethereum’s mining consensus algorithm) are some of the most profitable cryptocurrency miners today. At the time of writing, the Innosilicon A11 Pro ETH miner (1,500 MH/s) can score $54.30 per day in ether profits with $0.12 per kilowatt-hour electrical costs and today’s ether exchange rates.

Tags in this story
$54.30 per day, ETH, Ethash, Ethash miners, ether, ether mining community, Ether transition, Ethereum (ETH), ethereum developer, Ethereum miners, Ethereum The Merge, final chapter, Hashrate, Innosilicon A11 Pro, Mining Eth, PoW on Ethereum, Proof of Stake (PoS), Proof-of-Work (PoW), The Merge, Tim Beiko

What do you think about the comments from Ethereum developer Tim Beiko concerning delaying The Merge? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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.



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Part 1: Blockchain Analytics is More of an Art Than Science | by Coinbase | Mar, 2022

Part 1: Blockchain Analytics is More of an Art Than Science | by Coinbase | Mar, 2022
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By Coinbase Special Investigations Team

Intro

Bitcoin and many other cryptocurrencies are often referred to as pseudonymous. Everyone can view records on a public ledger, but not necessarily know who’s behind each address or transaction. But what does pseudonymity look like in practice? How are cryptocurrencies tracked? And can you really unmask someone on the blockchain? Let’s find out.

The public nature of blockchains allows for a certain degree of predictive analysis, enabling researchers to associate addresses and transactions with entities and sometimes individuals. Anybody can look at blockchain, but what makes a difference is the accurate interpretation of this public data, as well as corroborating it with other types of information gathered externally. Once combined such data can be used for blockchain analytics.

Blockchain analytics is widely used for market intelligence, trend analysis, and investigations, among many emerging spaces. The main objective of blockchain analytics is attribution — linking specific assets and events to particular entities or even individuals.

Attributing ownership, however, is often nuanced because outside observers can only infer it depending on factors such as availability and quality of the evidence. Evidence means proof that indeed an address belongs to an individual or entity. Unless you own an address yourself, it is very difficult to say with absolute certainty who an address is owned by. This is why it’s more fitting to consider blockchain analytics more of an art than science.

Let’s understand the basics of blockchain analytics and learn why attribution is often more complicated than it looks.

Attribution Basics

Can you tell what entity this address belongs to:

1JxXMEbYX6juuEK7QPe6CxGXywQ91ZB5mZ?

Is it an exchange? Is it a darknet market? Or maybe a private (otherwise known as an unhosted) wallet? To answer this question we need to dig for some ground truth.

1. Ground Truth Evidence

A search for truth often starts with plain googling or crowd-sourced sites like BitcoinAbuse.com:

Websites like BitcoinAbuse.com can be used by anyone to anonymously report BTC addresses linked to suspicious activity. Sadly, the reliability of such information can be very low. According to Blockchain.com, our address of interest received over 767 BTC. WalletExplorer.com implies this address is linked to a large offshore cryptocurrency exchange, which is corroborated by commercial blockchain analytics tools.

Indeed, commercial blockchain analytics tools identify this address as belonging to a large offshore cryptocurrency exchange.

So what about the nature of the activity? Is the exchange user involved in ransomware?

Further research connects this address to an exchanger called Coinguru.pw:

Coinguru allows users to swap between various cryptocurrencies, providing nothing more than an email address.

At this point you’re probably asking yourself: so who does this address belong to?

  • the BitcoinAbuse crowd-reported ransomware operator?
  • A large offshore cryptocurrency exchange?
  • Coinguru?
  • …all of the above?!

Well, the answer is complicated.

We have first-hand evidence of 1JxXMEbYX6juuEK7QPe6CxGXywQ91ZB5mZ being used by Coinguru, an exchange service operating an account on a large offshore cryptocurrency exchange. Exchangers like Coinguru often use bigger platforms’ infrastructure to reduce costs and get access to liquidity. We refer to these as nested services. These also cater to users who might not want to go to the trouble of creating their own accounts on an exchange. In fact, some nefarious actors may use these services to cash out of illicit funds.

For labeling purposes, it would suffice to say this is an exchange-owned address. If a regulator or a law enforcement agency investigating ransomware related transactions decides to enquire about the details, the cryptocurrency exchange will refer them to Coinguru who would be best positioned to provide further information on specific transactions.

2. Evidence quality and standard of proof

Evidence can vary in quality and blockchain analytics is no exception. Sometimes you might stumble upon a “smoking gun”, but it’s more likely you will need to spend time corroborating incomplete, circumstantial, fragmented or straight out misleading evidence. Nevertheless, even the weakest evidence can hint on a particular activity or entity behind it.

As we’ve already witnessed, crowd-reported sources such as BitcoinAbuse stand on the bottom of the reliability ladder. Not that they should be fully discounted, but evidence leading to attribution of crypto addresses is best gathered directly from the source. In the case of exchange services, the source would be their website displaying a deposit address.

The ultimate attribution comes from the ability to interact with the service, earning such evidence the highest confidence score. However, this is often prohibited, especially when investigating activities such as terror funding (TF). In cases like these, research shifts into the world of open source intelligence (OSINT). Much can be learned from aggregator websites, online forums, chat groups, mobile communication platforms, hidden domains on the Tor network and information scraping in an automated fashion by third party vendors. But even the best evidence is not helpful without proper investigative tools.

3. Deconflicting misattribution

Blockchain investigation tools include blockchain analytics software, private and open source databases, search engines, etc. The best investigative practice is to combine a mix of these tools, including commercially available software, and corroborate evidence using independent sources. Sometimes, however, those sources can offer conflicting information.

For instance, consider this address: 1N9SxKeNvFoBFuFKEDU8yFCwPwoeHqgmhu.

Imagine an investigator receiving intelligence linking this address to the sale of Child Sexual Abuse Material (CSAM). Attribution of this address will vary depending on which blockchain analytics tool you consult: some don’t have it labeled at all, while others attribute it to a merchant service. Open source research confirms this particular service allowed users to upload files and sell them for various cryptocurrencies. Addresses like the one above were generated for every user and were all connected to different types of activity, depending on what an individual user was buying.

While some uploads to this merchant service have been benign, some were identified as illicit, according to the Internet Watch Foundation (IWF), a non-profit combating the distribution of CSAM. Reportedly, the same merchant service was also used for ransomware decryptor key uploads. So, can the address of interest belong both to an illicit vendor and to the merchant service? Yes.

The correct way to attribute this service in a blockchain analytics tool would be to take all of the known addresses associated with the service and label them accordingly. Then, as a result of investigating individual addresses and their related activities, specific labels should be applied in accordance with documented findings. Labeling the whole service as illicit would be a misattribution. It can negatively impact tools and services that rely on blockchain analytics data, such as transaction monitoring systems or law enforcement subpoenas, leading to increased false positive alerts and erroneous leads.

4. The unknown unknowns

Back in October 2019, a medium article was published with a flashy title — “Huge Ethereum Mixer”. A Russian data scientist analyzed ETH flows between February and September 2017 claiming that “…68% of total Ethereum transaction value [is] controlled by one system… Funds come and leave within one hour, and addresses are never used again.” The researcher spent a great deal of effort analyzing the behavior of the “mixer”, its transaction patterns, and share of total transactions across Ethereum over time. At the center of the article was this diagram:

Notice how most large exchanges at the time are present: Kraken, Poloniex, Bitfinex, etc. Can you guess which one(s) are missing?

Hopefully, at this point it’s fairly evident that an external observer cannot possibly gain a full picture or claim 100% confidence in attribution. Keep in mind, when it comes to blockchain, everyone is an external observer, with the exception of addresses you control.

Stay tuned for the second part, where we’ll dive deeper into examples of how blockchain analytics can both enlighten and confuse.

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Can The 600-Day MA Support Line Push Bitcoin Again?

Can The 600-Day MA Support Line Push Bitcoin Again?
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Charts show the Bitcoin 600-day moving average (MA) has once again met with the BTC price curve, will the line act as support for the crypto once again?

Bitcoin Price Curve Is Once Again Touching The 600-Day MA

As pointed out by an analyst in a CryptoQuant post, the BTC price has once more dropped down to the 600-day MA support line.

A “moving average” (or MA in short) is an analytical tool that averages a given quantity over a specific period of time, and constantly updates itself as time passes and the value of said quantity (the price of Bitcoin in this case) changes. Hence the “moving” in the name.

MAs can be quite useful for analysis as they smooth out the price curve by hiding any local random fluctuations. Such short-term ups and downs in the value of BTC generally aren’t relevant to any long-term trend study so MAs are usually employed when looking over large timespans.

An analyst can choose to take an MA over any time period, whether that be only one minute, or even one thousand days.

Related Reading | Bitcoin Data: Number Of Active Entities Remain In Bear Market Channel

The quant in the post has referred to the 600-day version. Here is the chart showing its trend vs the price of Bitcoin over the past year:

The 600-day MA curve seems to have met the BTC price once again | Source: CryptoQuant

As you can see in the above graph, since the price has declined following the all-time high formation last year, the value of Bitcoin has made touches of the 600-day MA several times.

During each of those retests, the 600-day MA curve line has acted as support for the crypto’s price, and helped it propel back up.

Now once again the two lines have touched each other, but it remains to be seen whether support will hold this time or not.

Related Reading | Arthur Hayes’ Crystal Ball Predicts: Bitcoin And Ethereum To See Carnage In June

If the price trends below the 600-day MA curve, then Bitcoin may observe some real decline, just like when it lost the 200-day MA support.

BTC Price

At the time of writing, Bitcoin’s price floats around $39.8k, down 9% in the last seven days. Over the past month, the crypto has accumulated 2% in gains.

The below chart shows the trend in the price of the coin over the last five days.

Bitcoin Price Chart

Looks like the price of BTC crashed down a few days  back | Source: BTCUSD on TradingView

After holding above the $40k level for almost a month, Bitcoin seems to have once again declined below the level. Following the drop, the price has moved sideways over the last couple of days.

Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

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Ignite launches $150M-backed crypto project accelerator program for Cosmos

Ignite launches $150M-backed crypto project accelerator program for Cosmos
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Ignite (formerly Tendermint), a developer for the Cosmos blockchain ecosystem, has announced the launch of the Ignite Accelerator, an initiative to support the next wave of early-stage startups in Web3.

Ignite Accelerator focuses on the multichain ecosystem, with a total of $150 million secured in alliance with 11 initial investment partners Alameda Research, Kucoin Ventures, OKX Blockdream Ventures, HashKey Capital, Chorus One, Figment, Chainlayer, Strangelove Ventures, Forbole, Everstake, and Galileo.

Blockchain Projects Fast-Tracked with Ignite Accelerator

Through a tailored fast-track program, Ignite Accelerator supports participants to design, develop, and launch their blockchain projects faster, with access to expert mentorship, exclusive networking, exceptional talent, and substantial capital streams.

Teams will benefit from specialized support and go-to-market expertise from Ignite’s in-house professionals dedicated to helping projects blossom. Moreover, the help of established investor partners assists in fueling early-stage growth, providing expertise, and scaling your network.

“The name Ignite Accelerator may be new but identifying and funding high-potential blockchain projects is already woven into our company’s DNA. We’ve been incubating and accelerating Cosmos ecosystem projects internally since 2018. Now, in collaboration with our investment partners, we’re scaling our efforts to drive innovation across the blockchain space. Drawing on our successful track record and technical expertise (no other accelerator in the industry also created the core tech stack that participants will use), Ignite Accelerator will propel the adoption of the decentralized web.”
– The Ignite Team

Currently, the Ignite Accelerator has focused its investments on three key markets based on the current portfolio distribution: technical infrastructure, DeFi, plus community & social.

Ignite CLI: Build Your Own Blockchain

Ignite Accelerator forms one of three core pillars that enables Ignite to offer a clear path to launching blockchain projects, alongside Ignite CLI and Ignite Ventures (formerly Starport and Tendermint Ventures).

Ignite CLI, rebranded from Starport, is where projects will start their blockchain development process.

Operating as an inclusive platform, Ignite CLI is a feature-packed solution for developers to easily build interoperable and sovereign blockchains.

Adaptable to any project, Ignite CLI allows for building a fully sovereign blockchain, rather than just a smart contract on someone else’s chain.

All blockchains built with Ignite CLI come with IBC functionality so projects can build their community, and connect to a growing number of interoperated chains in the Cosmos ecosystem.

More than 30 chains have already been built using Ignite CLI, including some of the most inventive projects in the Cosmos network such as Osmosis, Juno, Lum Network, and Stargaze.

Applications Open Now

  • Ignite Accelerator will support up to 20 projects a year, with two cohorts annually.
  • Each cohort participation will run for six months and focus on helping participating projects reach successful mainnet launch within 12 months.
  • Applications to join the fast-track program are now.

To be considered for the first cohort of Ignite Accelerator participants, check out the application.

The post Ignite launches $150M-backed crypto project accelerator program for Cosmos appeared first on CryptoNinjas.

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Advertising Agency Launches Campaign to Free Jailed Egyptian Women With NFT Sales – Metaverse Bitcoin News

Advertising Agency Launches Campaign to Free Jailed Egyptian Women With NFT Sales – Metaverse Bitcoin News
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An advertising agency from the United Arab Emirates (UAE) and a non-governmental organization have launched a campaign that seeks to raise funds for jailed Egyptian women via the sale of non-fungible tokens (NFTs). The funds raised are already being used to pay off their debts, allowing the imprisoned women to leave jail.

Raised Funds to Set Prisoners Free

The UAE-based advertising agency, Horizon FCB, has launched a non-fungible token (NFT) campaign that seeks to raise funds to free Egyptian women that were jailed for failing to pay off their debts. In this campaign, Horizon FCB has partnered with the non-governmental organization Children of Female Prisoners Association (CFPA).

According to a report published by Unlock Media, the imprisoned women were unable to pay off relatively small loans taken out to pay for medicine, emergencies, and other needs of their families, so they ended up in jail. The advertising agency’s general manager, Reham Mufleh, explained the rationale behind Horizon FCB’s decision to help. Mufleh said:

We created and launched a humane initiative, Breakchains with Blockchain, inspired by the reasons for their imprisonment, we created in collaboration with artists from around the world, NFTs. Each is designed to tell a woman’s story, the story of why she was sentenced. Each NFT is priced at the amount it will cost to free them from their sentence and give them a second chance at life.

As explained in the report, every year over 10,000 Egyptian women are sent to prison. Their only crime, according to the report, is failing to repay their loans. CEO of Horizon FCB Mazen Jawad says it is the heartbreaking stories of the jailed women and the plight of their families that prompted the advertising agency to start the campaign.

In addition to raising funds, Horizon FCB and its partner CFPA are also using the novelty of NFTs to raise awareness about the plight of jailed women and their families. On March 21, when the campaign was launched, three Egyptian mothers were reunited with their families after their debts were paid using funds raised from the sale of NFTs.

What are your thoughts on this story? Tell us what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.














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.

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Part 2: Blockchain Analytics is Tricky at Scale | by Coinbase | Mar, 2022

Part 2: Blockchain Analytics is Tricky at Scale | by Coinbase | Mar, 2022
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By Coinbase Special Investigations Team

In our last post we walked through the basics of blockchain analytics and attribution. In this follow-up post, we will demonstrate how powerful blockchain analytics is and how tricky it can get at scale. We’ll start with reviewing some of the common blockchain analytics scaling methods used in fortifying Compliance programs as well as bolstering sanctions controls.

1. Commonspend

Blockchain analytics software relies on detecting patterns of certain address activities, known as heuristics. The primary heuristic applied to all UTXO blockchains (Unspent Transaction Output, like Bitcoin, Litecoin and their forks) is the commonspend heuristic.

It works as follows: take the following address 1P354Tw8VaSteYph84ext3f4fAYnSJQGuZ, as seen in this Youtube video involving a deposit to LocalBitcoins. So, we know this address belongs to LocalBitcoins and is an individual’s deposit address.

In this transaction we see that our LocalBitcoins address appears as one of the inputs:

Since we know that 1P354Tw8VaSteYph84ext3f4fAYnSJQGuZ belongs to LocalBitcoins and because we know that in order for this address and others to be spending funds together in the same transaction hash (i.e. inputs), the sender must have all of the private keys to each input address. We therefore can reason that all input addresses in this transaction belong to LocalBitcoins. Thus all input addresses belonging to Local Bitcoins can be clustered together.

Some block explorers automatically apply the commonspend heuristic to their analysis. For example, if you take a look at our original address in CryptoID or WalletExplorer, you’ll see that it belongs to a cluster of 990k+ addresses.

This heuristic remains a cornerstone of blockchain analytics. In fact, the most popular blockchain analytics tools already apply the commonspend heuristic to all Bitcoin addresses before they even know what the attributions for the addresses are.

But heuristics, even as straightforward as commonspend, can’t always be trusted.

2. Commonspend isn’t always common

So when does the common spend heuristic not apply? Consider this transaction:

The above transaction has multiple inputs and also multiple outputs. This is a more complex type of a transaction, referred to as coinjoin. Several users who don’t necessarily know each other might decide to participate together in a coinjoin transaction, pooling all their funds together. This is often done through dedicated privacy software such as Samourai or Wasabi wallets.

Coinjoin above leads to obfuscation of funds through seemingly random output addresses. It also renders any commonspend-based analysis ineffective, even though each party that participated in the coinjoin still gets out the same amount of Bitcoin that they originally put in (minus the fee paid to the service). Demixing such transactions is difficult (but not always impossible), and it is just one example of defeating commonspend.

3. Bringing it all together

Now that we’ve learned about ground truth, evidence quality, deconflictions, misattributions, and what commonspend is, let’s walk through how it comes together in identifying addresses belonging to illicit entities, like those 25k we discussed in our previous blog post.

The Office of Foreign Assets Control (OFAC) — a regulatory agency in the US responsible for sanctions enforcement — published a notice designating about 100 addresses, as well as entities they belong to. So, how did we go from under a hundred to over 25 thousand addresses?

3E7YbpXuhh3CWFks1jmvWoV8y5DvsfzE6 was one of the addresses designated by OFAC as belonging to Chatex — Russian Telegram bot that allows users to exchange crypto:

An official government website is a pretty reliable source of information, giving us confidence in the evidence quality. Now we need to assess each address to identify whether it’s a part of a larger group of addresses (e.g. a cluster) controlled by an entity. Using commonspend heuristic, we can associate 3E7YbpX…vsfzE6 address with a group of over 25k addresses. You too can verify this using a public block explorer, such as CryptoID:

After some additional checks we confirmed that all of these addresses belong to Chatex. And since the entity was sanctioned by OFAC, we are required to block respective transactions. It is worth noting that our list of blocked addresses is significantly larger. It includes other sanctioned entities as well as designated individuals. We also engage in proactive work to identify sanctioned activity originating from various jurisdictions, including Russia. But that’s a subject for another blogpost…

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Pros And Cons For Crypto Traders – NewsBTC

Pros And Cons For Crypto Traders – NewsBTC
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Pros and cons are always essential to consider, even in a variety of contexts. When picking a trading platform, it is vital to create and review a list of pros and cons to be certain the right decision is being made. It is also important to decipher between which platforms are the pros they say they are or if they are complete con artists. 

PrimeXBT is a trading platform with a lot of pros, and like any platform has some cons to consider. Because the pros so heavily outweigh the cons in this situation, we are instead in this review hoping to determine if PrimeXBT is the professional platform it claims to be or if it is another con artist crypto trading venue worth passing by.

About PrimeXBT: Pros Versus Cons

Launched in 2018, PrimeXBT is an award-winning multi-asset margin trading platform offering lightning-quick order execution with no slippage and ultra-fast reliable performance with as much as 99.9% uptime. More than 100 of today’s most popular trading instruments are included across crypto, forex, commodities, and stock indices.

Pro: Flexible Currency Options

PrimeXBT being a multi-asset margin trading platform, lets users deposit a wide range of crypto assets: BTC (Bitcoin), ETH (Ethereum), USDT (ERC-20 Tether), USDC (USD Coin), and the COV (Covesting) utility token. 

Pro: Buy Crypto Here

Don’t have crypto yet? Don’t sweat it. PrimeXBT lets you buy crypto assets with a credit card from several third-party partner widgets, each with competitive conversion rates and limited fees. Users can also exchange one type of cryptocurrency for another within each wallet.

Pro: No Minimum Deposit

Deposits are made to a secure cryptocurrency wallet protected by two-factor authentication and compulsory address whitelisting. There is no minimum deposit to get started, so anyone with any level of capital can begin. This also lets new users test the waters without putting too much money at risk on a new platform. 

Con: Up To 24-Hour Withdrawals

To avoid any confusion and to be clear about any potential cons at the platform, one pitfall for impatient users is the fact that withdrawals can take up to 24 hours to send. If you need your crypto urgently, you will simply have to wait as there is no way around this security protocol. 

Pro: Virtually Hack-Proof

The con above is a worthy trade-off for a platform that hasn’t once in its nearly five-year history been hacked or had any significant downtime. No users have reported any consequential loss of funds due to theft. This spotless reputation is rare in today’s crypto industry.

Pro: Versatile Account System

With safety in check and deposits made, by now, it is time to start funding individual accounts within the PrimeXBT dashboard. In addition to margin trading accounts that are anything but standard, there are also APY-generating yield accounts, Covesting accounts, and more. All of this is available within one primary account and under just one roof.

Pro: Crypto, Forex, Commodities, & Stock Indices

Margin trading and Covesting strategy managers have access to more than 100 of today’s most volatile and popular trading instruments, including Bitcoin, gold, oil, the S&P 500, and much more. There are dozens of cryptocurrencies, forex currencies, all major stock indices, and the most critical geopolitical commodities.

Pro: Educational Website And Tips

Every legend starts out their story as a beginner. Don’t be deterred if you don’t yet know how to trade. PrimeXBT’s top expert trader will show you the ropes and show you how it is done. Dirk Hartig has prepared an extensive database of trading tips, tutorials, and more.

Pro: Compete For Crypto 

With these new skills gained, you can both practice with risk-free virtual funds or put them to the ultimate test within PrimeXBT contests and compete for massive crypto prizes worth up to $100,000 USDT. New competitions go live weekly, and trading is conducted in a simulated real-time market environment.

Pro: Copy Trading Community

You either have what it takes, or you don’t. If you do, you might want to give a shot at becoming a Covesting strategy manager. These strategy manager accounts are ranked by performance in a fully transparent global leaderboard for followers to pick and choose which traders they should follow. For those that don’t have what it takes, using Covesting, you can still follow someone who does, copy their trades, and profit from market volatility.

Pro: Utility Token Utilization

With Covesting a centerpiece of PrimeXBT’s offering, the platform has fully integrated the native utility token to the Covesting ecosystem, COV. This token activates exclusive memberships that each improve the benefits for users. Activated utilities include trading fee discounts, increased following counts, improved APYs, and more.

Pro: High Yield APYs

During the DeFi explosion, PrimeXBT rolled out a yield generating tool of their own that connected to top decentralized protocols to access a variable APY return on any staked crypto assets in just a few clicks.

Pro: Free Mobile Apps

All of these products and services are available no matter where you are, right from the tips of your fingers, thanks to entirely free iOS and Android smartphone applications. It is also very easy with just a few swipes or taps to make a deposit or take a new trading position. You can also manage your trading or Covesting portfolio while on the go.

Pro: 24/7 Live Customer Service

The mobile app and desktop both offer access to live, 24/7 customer support chat any time it is needed. There is also a massive help center with guides on how to use the platform and a dedicated account manager for fully personalized services.

Con-clusion: A Professional Platform For Novices And Pros Alike

The conclusion itself is no con, PrimeXBT is a professional margin trading platform with everything pros and novices could need to get going, further their careers, or make a profit. 

Because PrimeXBT is also continuously adding new trading instruments and features, you can rest assured that the next market innovation will also find a home on the award-winning margin trading platform. 

Registration is free, takes only a few minutes, and requires very little personal information.

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BTC Moves Below $40,000, Some Anticipating Drop to $30,000 – Market Updates Bitcoin News

BTC Moves Below $40,000, Some Anticipating Drop to $30,000 – Market Updates Bitcoin News
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After a boost on Tuesday, following the release of U.S. inflation data, bitcoin prices were once again lower on Wednesday. BTC has mainly traded below $40,000 during the session, with ETH continuing to hover above the $3,000 level.

Bitcoin

Following a slight rebound in price during yesterday’s session, BTC fell below $40,000 earlier today, and has remained there throughout the day so far.

BTC/USD dropped to an intraday low of $39,389.66 on Wednesday, which came less than 24 hours after hitting a peak of $40,617.59.

Wednesday’s move saw prices move past the support level of $39,515. However, they have since rallied, moving away from these lows.

Bitcoin, Ethereum Technical Analysis: BTC Moves Below $40,000, Some Anticipating Drop to $30,000
BTC/USD – Daily Chart

As of writing, BTC is now trading at $39,783.91, which is still 1.66% lower than yesterday’s high, with some expecting further declines.

Prominent Twitter technical analyst “Plan B” ran a poll asking his 1.7 million followers if they believed BTC will dip below $30,000, to which 45% of those who voted said “yes.”

The majority who voted “no” are likely looking at the RSI, which is currently tracking at 37, and is already oversold, and may be anticipating a more short-term realistic target of $37,000.

Ethereum

ETH was fighting to stay above $3,000 on Wednesday, as its price was also marginally lower than that of yesterday’s peak.

On Wednesday, ETH/USD fell to an intraday low of $3,005 following the earlier high of $3,080, which sees the price down 2.10% as of writing.

Despite this drop, bulls seem to still be unmoved by the uncertainty of prices, and could even look to send ETH back towards resistance.

Bitcoin, Ethereum Technical Analysis: BTC Moves Below $40,000, Some Anticipating Drop to $30,000
ETH/USD – Daily Chart

This short-term resistance is at the $3,145 level, and with historical bullish sentiment around the current floor of $3,050, we may see a rebound.

However, looking at the chart, a cross of the 10-day and 25-day moving averages has occurred, which could be a sign that momentum may indeed be bearish.

Do you expect ETH to fall further during the second half of April? Leave your thoughts in the comments below.

eliman@bitcoin.com'
Eliman Dambell

Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.




Image Credits: Shutterstock, Pixabay, Wiki Commons

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Namaste, India! 🇮🇳. By Brian Armstrong | by Coinbase | Apr, 2022

Namaste, India! 🇮🇳. By Brian Armstrong | by Coinbase | Apr, 2022
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By Brian Armstrong

At Coinbase, we believe that crypto is the best tool that exists to advance our mission of increasing economic freedom in the world. But for crypto to reach its potential, it needs to be easy for anyone, anywhere in the world to use it.

That’s why we’re excited to be in India this week.

India has built a robust identity and digital payments infrastructure and implemented it at rapid scale and speed. Combined with India’s world class software talent, we believe that crypto and web3 technology can help accelerate India’s economic and financial inclusion goals.

On Thursday, April 7th, we will be hosting a crypto community event in Bangalore to discuss the future of crypto and web3 in India. We will have many special guests. You may register to attend online here. Additionally, Coinbase Ventures, the investment arm of Coinbase, has partnered with Buidlers Tribe to host a startup pitch event on Friday, April 8th. Please visit the website to learn more about the event and apply.

Coinbase Ventures has already invested $150 million in home-grown Indian technology companies in the crypto and web3 space, and is constantly identifying new opportunities to help Indian founders scale. Coinbase’s Indian tech hub was launched last year and already has over 300 full time employees across India’s state and regions. We are excited to tap into the dynamic Indian software talent to build out our products and will continue to invest heavily in our India hub. We have ambitious plans for India and seek to hire over 1,000 people in our India hub this year alone.

On a personal note, I’ve spent the last week touring India — visiting the sites, and meeting the amazing people. This week, I’ll be joining members of our executive team as we meet with students from top universities, crypto founders, Indian entrepreneurs, and crypto evangelists.

India is a magical place, and I believe crypto has a big future here. We’re excited to help build that future, and this event is an important step.

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