From Bitcoin 2022 To The Rest Of The Plebs: Why I’m Riding A Harley Across The U.S. Meeting Bitcoiners

From Bitcoin 2022 To The Rest Of The Plebs: Why I’m Riding A Harley Across The U.S. Meeting Bitcoiners

Starting from Bitcoin 2022, my motorcycle tour will travel 10,000 highway miles to meet Bitcoiners across the U.S.

Starting from Bitcoin 2022, my motorcycle tour will travel 10,000 highway miles to meet Bitcoiners across the U.S.

To me, Bitcoin represents the opportunity for the common person to take back sovereignty in a time of vanishing freedoms and increasing dependence. However, that understanding took many years of exploring and curiosity to find. I approached Bitcoin from technical and financial perspectives, dug into the history of money, and read bundles of arcane economics papers that all contributed to this idea of Bitcoin and its impact.

Bitcoin grew faster and further than I ever imagined. Given how long it took for it to “click” for me personally, I want to find out what is bringing people to Bitcoin and how this movement is growing organically. In addition, I want to share these stories with you and your friends and family, because I believe these perspectives have the potential to resonate with others earlier in their Bitcoin journey. These stories are best told and heard in person, after a handshake.

How will I hear these stories? By going on tour.

What Is The Bitcoin Tour?

To hear how people are falling down the rabbit hole, I will visit Bitcoin meetups across the U.S. this year, starting from Bitcoin 2022 in Miami. I am riding the ultimate freedom machine — a Harley Davidson motorcycle — to see the country from the ground.

The motorcycle I’ll be riding across the U.S. this year, parked in front of Bitcoin 2022. 

As I visit the many Bitcoin meetups sprouting up across the country, I will hear about and share the myriad ways all of us come to appreciate Bitcoin. My goal is for your friends and family to see these stories and find just one that resonates with them, that shows them how Bitcoin might help solve a problem they care about. Swan Bitcoin will host these stories on its YouTube channel, and I will share them on Twitter.

If you want to share your story, let me know where you attend your local Bitcoin meetup and I will try to make it there. If you organize a regular Bitcoin meetup in your area, definitely direct message me on Twitter. You can see the rough plan for my route around the U.S. in this article below.

Why This Tour Exists

This tour is ostensibly about sharing how people come to find and appreciate Bitcoin — but my motivation runs much deeper. Let me attempt to share why:

Risk makes life interesting.

We marvel at Evel Knievel, revere mountain climbers, follow entrepreneurs in part because all of these people take big risks. They put careers, reputations, limbs and even life on the line to explore the uncharted and make the map for all of us. All of our great stories track the arc of a hero reckoning with obstacles both within and without, not the humdrum of daily life. On some level, we are attracted to and amazed by taking big risks to explore the unknown.

My motivation behind this tour is deeply rooted in an exploration of risk and the unknown. I love riding motorcycles partially because the risk brings a rush that cannot be captured on a page. I want to visit meetups and learn from Bitcoiners because I have truly very little idea of what I will learn or how, but I know I will find a way to hear and share incredible stories. I quit a stable job to go on this tour because I wanted to see what the risk of taking a few months to travel across the U.S. could reveal in my life.

Taking on sponsors for the tour also introduces a risk that I could let those sponsors down. I decided early on to only work with companies that I respect and people who I like. I would rather ride completely on my own dime than sell that freedom to someone I loathe working with. Working with teams I respect, however, pushes this tour to places it would never go if it was just me and a motorcycle. I owe a huge thanks to those sponsors for believing in my tour and this vision: Swan Bitcoin, Bitcoin Magazine, Unchained Capital and Upstream Data.

Risk And Reward

Risk also comes with reward for those who navigate successfully. Facing the unknown and knowing it one step at a time is at the root of why I set out on this Bitcoin Tour. I live for these experiences.

I believe most everyone finds joy in these kinds of experiences, but it is also easy to avoid them altogether. Our societies today — especially in the “developed” world — don’t help. We are driven to work harder and longer for less, then soothe ourselves with menus of on-demand entertainment, food, pre-packaged “experiences” and all other manner of predictable dopamine releases. Risk and exploring the unknown is discouraged from many angles, even though it invigorates us and drives healthy, happy societies. I hope my tour can inspire others to take the risks they’ve been mulling.

Risk And Freedom

Risk also comes hand in hand with freedom. Life is inherently a risky business, requiring personal responsibility to survive and thrive. Throughout history, societies have used controls and regulations to change how their citizens view and interact with risks. However strong the rule of human law, however, we cannot eliminate the risks inherent to natural law. Often when we attempt to eliminate a risk arising from the natural world, we only kick it off into the future.

Risk And Bitcoin

Our current financial and monetary system does not eliminate the risks of a credit-based currency with bailouts and regulations, but instead pushes them off — allowing them to fester and grow. This constant kicking of the can down the road is the “fiat mentality.” Looked at through this lens, other “crypto coins” are simply a continuation of the existing system: a repackaging of fiat mentality in fancy world salads and shiny JPEGs.

The incentives of Bitcoin’s system point to a different era, one where risks and rewards are more evenly distributed to those who choose to take them on. The military aggression, controls and taxation systems are no longer necessary for the purpose of backstopping the legitimacy of currencies, and the great power managing a currency gives a government. Neither will the norm continue to be endless inflation in a time of staggering productivity gains from technology.

It is no surprise that many label Bitcoin as risky, because Bitcoin is changing our relationship to risk. Bitcoin will force an end to a system that incentivizes policy makers and the public to put off and bottle up risks until they explode catastrophically.

In my view, Bitcoiners sharply understand risk and its relationship to freedom, to personal responsibility and to living out a rewarding life. This tour will help me test this idea, to learn more about how those who support Bitcoin understand these relationships and share that knowledge in a relatable way.

The Bitcoin Tour Route

Now that the weighty stuff is over, it’s down to where the rubber meets the road: the route.

After departing from Miami, I plan to ride up and around the U.S. for three months, logging over 10,000 miles in the saddle. The first leg of the trip will cover Texas and the South up to the Eastern Seaboard, and those dates are more or less set. The second leg of the trip will take the tour across the Northeast and through the Midwest, ending up in Colorado in late June. The final leg goes down to the Southwest, then up through the Rockies and along the Pacific coast to end in Los Angeles.

Here’s what this route looks like all mapped out (keep in mind, this is not set in stone):

Over 10,000 miles of sweet, sweet highway.

Participating In The Bitcoin Tour

If you’d like to share your story, join me for a ride or just learn what I’m learning as I cross the U.S., follow me on Twitter @CaptainSiddH and join the tour’s Telegram. If you’d like to support the tour financially, you can donate sats via this Tallycoin fundraiser.

Whoever you are, dear reader, I am psyched to meet you at your local Bitcoin meetup. Keep stacking and I’ll see you soon. You might just snag one of the 21 hats I’ll be giving out at stops along the way.

This is a guest post by Captain Sidd. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.


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Belarusian crypto exchange stops trading for Russians over war in Ukraine

Belarusian crypto exchange stops trading for Russians over war in Ukraine


Announced in a blog post published on Tuesday, April 12, the Belarusian crypto exchange says it will restrict its services for Russian users following Vladimir Putin’s invasion of Ukraine earlier this year.

“The Russian invasion of Ukraine brought violence and disorder to the people of Ukraine. We condemn the Russian aggression in the strongest possible terms. We stand with Ukraine and everyone who denounces this terrible war. In these circumstances, we can no longer continue to serve our clients from Russia,” the post from reads. 

As reported by Market Insider, was established and registered in the Belarusian capital Minsk in 2018, and it is primarily focused on serving the Eastern European markets. Since then, though, the company has moved its headquarters to Gibraltar, but it still has an office in Minsk, as well as in Warsaw, Poland, and in New York in the U.S.

Many accuse Belarus of helping Russia

Following Russia’s invasion of Ukraine, most nations around the globe have imposed strict sanctions on Russia, as well as on Belarus. In the Russian case, even assets belonging to the Russian central bank have been frozen or confiscated. The two neighboring countries are close allies, as are their leaders, and many accuse Belarus of helping Russia by allowing them to use Belarusian territory to attack Ukraine.

Until now, most crypto exchanges have been anything but keen to ban Russian users as long as they are private individuals. U.S. authorities have warned crypto firms against helping Russia as a country and those individuals under sanctions.

As reported by CryptoSlate, anyone who seeks to help Russia bypass economic sanctions will be held accountable by the US government, said Deputy U.S. Treasury Secretary Wally Adeyemo.

Clear message to crypto exchanges

“What we want to make very clear to crypto exchanges, to financial institutions, to individuals, to anyone who may be in a position to help Russia take advantage and evade our sanctions: We will hold you accountable,” Adeyemo said.

However, sanctions do not apply to ordinary Russians not listed on any sanctions lists. Some Russians are using crypto as a lifeline as the ruble has collapsed and millions of people have lost their life savings.

“Some ordinary Russians are using crypto as a lifeline now that their currency has collapsed. Many of them likely oppose what their country is doing, and a ban would hurt them, too,” Coinbase’s CEO Brian Armstrong said in a series of tweets last month. This stance has also been repeated by Kraken’s CEO Jesse Powell and Binance’s Changpeng Zhao, two of the other major crypto exchanges.

Western leaders have increasingly focused on the use of cryptocurrencies such as bitcoin (BTC) and ether (ETH) to evade sanctions, however, this fear has also been refuted by several analysts and observers, not the least by an extensive report by Chainalysis.



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What You Missed: The Big Big Spark Recap

What You Missed: The Big Big Spark Recap

On April 8th, the ground began to shake: CoinStats was hit by The ⚡Big ⚡Big Spark, a live event introducing an avalanche of revolutionary updates that are about to change your trading experience forever. The CoinStats team members walking you through the new features enjoyed the enthusiasm with which our community welcomed the updates. 

CoinStats BigBig Spark live event recap

We would like to thank you guys for turning up, asking thoughtful questions, and of course, cheering us on. That being said, you have seen nothing yet: The 100 exclusive NFTs sent to our users opened a new era of amazing rewards and massive rehauls. 

Now let’s go over the key updates revealed at The ⚡Big ⚡Big Spark. 

CoinStats Rewards

Since CoinStats is evolving at a high pace, sometimes the members of our community miss out on useful features and communication channels. The launch of CoinStats Rewards means you’ll get rewards for discovering CoinStats in its full glory. 

How does it work? You complete quests listed in our CoinStats Rewards program. It can be anything: Swapping via our DeFi Wallet, referring a friend, visiting CoinStats every day or joining our Discord channel. The completion of quests will earn you ⚡Sparks that you can later exchange for a myriad of terrific rewards. For example, you may choose CoinStats Premium, a CoinTickr tracking device or a custom NFT. So you get rewarded for exploring CoinStats – it’s a win-win in our book!

Homepage Overhaul

The ⚡Big ⚡Big Spark also transformed our homepage! From now on, you can find all your favorite coins and major crypto news right on the CoinStats homepage. You never know, maybe your next big investment will come from just opening CoinStats.

CoinStats Stories

Next up we have the launch of CoinStats Stories. Who doesn’t love a Pepe meme or an informative news article about the latest hype? Now you’ll have daily news, crypto memes, and so much more right at your fingertips. 

Swapping 2.0

And finally, The ⚡Big ⚡Big Spark brought us Swapping 2.0: Now you can trade on CoinStats with zero extra fees right where you do your research. Enjoy a smooth and convenient user experience as you trade and invest into the coins that will take you there.

So, what are you waiting for? Go ahead and try out all these exciting changes that The ⚡Big ⚡Big Spark brought about. And make sure to tune in next time we’re hit with something equally transformative, word on the street is it’s coming very soon.


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Bitcoin Songsheet: Airline Miles Are The Original Altcoins

Bitcoin Songsheet: Airline Miles Are The Original Altcoins

Airline miles are the original altcoin, allowing zombie companies to issue value for nothing while encouraging people to be “Miles Chasers.”

Airline miles are the original altcoin, allowing zombie companies to issue value for nothing while encouraging people to be “Miles Chasers.”

In 1999, a civil engineer by the name of David Phillips managed to earn 1.2 million miles by taking advantage of a promotion by Healthy Choice. He did this by mailing in UPC labels from their pudding cups and henceforth became known as The Pudding Guy. This became an early internet meme, like “All your base are belong to us” and the Hampster Dance.

Airline miles have a weird place in American culture. Everyone knows their uses are very limited, they have no transferability and oftentimes expire. Yet they’re seen as a way to beat the system, of getting something for free, of saving some money. We look at The Pudding Guy with envy and admiration. Here’s someone who found a loophole in the system and used it for air travel! He bent the system to his will, and got the benefits that only rich people are entitled to!

There are now many websites and forums that discuss how you can get deals on miles and get hacks on travel. These people are called Miles Chasers and they accumulate miles on the cheap. They apply for several credit cards, spend time on surveys to earn miles and spend weeks traveling to get to the next status tier. They don’t realize that they’ve bought themselves a job, not even a particularly interesting one at that, and it’s entirely rent-seeking.

Confessions of a Miles Chaser

I used to be one of those Miles Chasers. I’d spend an hour looking for a way to earn miles so I could get the equivalent of $8 in miles. Somehow, it never registered that I was giving myself a job at $8/hr. The sadder thing is that the work didn’t really benefit anybody or build anything. It was as productive as doomscrolling through Facebook. Unfortunately, Miles Chasing is a hard habit to break because of the scarcity mentality that’s so common to fiat money: You can take the miles from my cold, dead hands.

Miles have the illusion that you can get something for nothing. I wanted to beat the system and bend it to my will, like The Pudding Guy did. I signed up for lots of credit cards, got their miles and kept track of the required spending for the sign-up bonus for both me and my wife. Only later did I understand that I was rent-seeking.

How Miles Work

Miles look like a normal loyalty program, much like getting a sixth sub free at Subway if you purchase five. And indeed, that’s how it all started back in 1981 when both American and United started their mileage loyalty programs. Both airlines saw that business travel was their big profit center and by rewarding their customers, they could get some more of that business travel money. These customers weren’t as price sensitive to the flights since the companies would foot the bill, but they did care about the benefit: the airline miles. Miles are a subtle kickback to the flyers who were traveling on the company dime.

Soon, other airlines and hotels and car rental companies followed suit. They, too, had a lot of business travelers, and they wanted to incentivize business travelers with company funds to purchase from them. Of course, it sucks having lots of different loyalty programs to manage, so many of the hotels and car rental companies partnered with existing airline miles programs. Miles became the default kickback currency to traveling employees everywhere.

Airlines sell miles to partners at around $0.01/mile. What started as a way for loyalty programs to consolidate became a huge revenue source for airlines. Not only do hotels and car rental companies buy them, but also credit card companies, survey firms and even consumers. Credit cards, in particular, have become huge buyers of miles, as they use their 3% merchant fees to fund the kickback to the user.

Miles are a form of debt; they are redeemable for future flights. Airlines can bank revenue now for flights that haven’t occurred yet! Unlike normal debt, however, miles can be debased by repricing redemptions, reducing redemption availability or expiring them after a period of time.

The availability of this special form of debt, as we will see, has fundamentally changed the nature of the businesses, from travel to debt issuance. It turns out that the ability to print your own debt is a curse.

Airlines are Difficult Businesses

Airlines are very difficult to run. They require tremendous amounts of capital expenditures, high ongoing costs like fuel and labor and complicated logistical infrastructures. There’s also regulation, competition and weather to deal with. It’s no surprise, then, that they often get into financial trouble.

Because governments view airlines as a display of national prestige, there’s a tendency to bail them out of their troubles. The three major U.S. airlines (Delta, American and United) have gone through at least one bankruptcy in the last 20 years. The bankruptcy proceedings usually result in a merger or some new company that’s injected with government funds. Even airlines that might go bankrupt are bailed out by the government such as during the travel shutdowns of the pandemic. The result is that airlines are now zombie companies that repeatedly get revived through government intervention.

Zombie companies typically don’t do that well in the marketplace. It’s no coincidence that air travel times are slower now than in the ‘70s. Planes might be more fuel efficient, but they’re not really faster or more convenient. The way these zombies have survived, besides government intervention, is through the financialization of their miles programs.

Whenever airlines are in a pinch, they sell miles to their partners for cash. They are acting as central banks, except instead of dollars they issue new miles. What’s more, they also control the redemption side of the equation. If they want less redemptions they’ll put more restrictions on redemption flights and if they want more, they’ll put less restrictions. Depending on the inventory of seats they have and the cost of certain flights, they can optimize for discharging the outstanding miles whenever it is least costly. They’re the neighbor that borrows your snowblower in October and returns it in May.

Miles are debt on an airline balance sheet, with a particular form of redemption that airlines control. The initial issuance of the miles and control of the redemption process makes them very much like an altcoin. Altcoins are created at no cost and can only be redeemed for a particular purpose. ICOs were predicated on this, for example. Coin X entitled you to some service, which may or may not be available depending on what the central committee decided.

Mileage Program Valuation

The complete control of the creation and redemption processes makes airline miles programs very valuable. During the pandemic, we got a glance at their valuations because these airlines took out loans against their miles programs. MilesPlus, United Airlines’ program, was valued at $22 billion in 2020. This is in contrast to their current market cap, which is $15B. United Airlines wholly owns MilesPlus, so it’s like finding out that a house costing $500,000 has a kitchen worth $800,000. The rest of United Airlines is worth -$7 billion! Meaning that United is more a bank that uses flights to discharge accumulated mileage debt than an airline that uses mileage programs for loyalty.

The other two major carriers in the U.S., American and Delta, have similar valuations on their miles programs.

These companies are zombies, only kept alive by their ability to print new miles and borrow against future revenue. They’ve become financialized to the point that their business model is mostly in selling miles. They are the original altcoins.

Zombies Everywhere

Airlines are surviving on borrowed revenue. They don’t really operate air travel at a profit, but instead use air travel to discharge miles that they print. By selling miles, they’re banking revenue now for a redeemable liability later. The air travel part of their business is a loss-leader and the part that’s only necessary because it’s the main way in which miles get redeemed. The airlines are zombies living on borrowed time.

The perception of miles is that people are getting something for nothing. In reality, Miles programs are rent-seeking jobs in a money-printing system. The Cantillionaires of airline miles are the people with premium status, who get benefits that cost more for other people. The cost of airline seats are higher because of the subsidies paid to the high-status people. The people are zombies that go after miles.

All this is to say that altcoins aren’t really new. The main difference between altcoins and airline miles is that airlines have been forced to keep a useful service around, which altcoins don’t. In a sense, altcoins are a new level of zombification, with no useful redemption mechanism. If airlines someday only operated the miles programs, they would be altcoins.

Altcoin users, then, are the equivalent of Miles Chasers. They’ve bought themselves jobs of finding the best deals. They buy random coins not based on utility but based on discount. A life seeking deals like this is a good way to end up with a lot of flea-market junk, which not coincidentally is what their portfolios look like.

And that’s the real trouble. It’s easy to get caught up in the lifestyle and fritter your life away on a rent-seeking activity. The Pudding Guy has probably devoted 10,000+ hours to Miles Chasing and altcoiners have probably spent similar amounts of time looking for coin bargains. Such devotion to “free” stuff would be funny if it weren’t so sad.

Plebs stack sats and buy bitcoin by working on what they’re good at, that the market wants. Altcoiners are like The Pudding Guy, rent-seeking and selling their souls in jobs they bought for themselves.

We are not the same.

This is a guest post by Jimmy Song. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.


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Vitalik Buterin Becomes Citizen of Crypto-Friendly Montenegro – Bitcoin News

Vitalik Buterin Becomes Citizen of Crypto-Friendly Montenegro – Bitcoin News

Ethereum co-founder Vitalik Buterin has been granted Montenegrin citizenship. Buterin joins other members of the crypto community with global experience who have been invited to help the small Southeast European nation attract investments and develop its blockchain sector.

Vitalik Buterin Obtains Montenegrin Passport

Prominent crypto figure Vitalik Buterin is now a citizen of Montenegro, the country’s public service broadcaster revealed this week. Radio Televizija Crne Gore (RTCG) quoted an official announcement from the Ministry of Finance and Social Welfare in Podgorica.

Vitalik Buterin Becomes Citizen of Crypto-Friendly Montenegro
Vitalik Buterin and Milojko Spajić. Source: Finance Ministry of Montenegro.

According to the report, the Russian-born Canadian programmer and blockchain specialist acquired his new Montenegrin passport at the suggestion of Prime Minister Zdravko Krivokapić and the Minister of Finance Milojko Spajić. A statement from his department noted:

Minister of the Interior Sergej Sekulović, recognizing the importance of this initiative, made the decision to admit Vitalik Buterin to Montenegrin citizenship at the proposal of the prime minister, and today he was handed a Montenegrin passport.

The finance ministry pointed out that a group of global crypto experts have visited Montenegro at the invitation of Minister Spajić. Montenegrin authorities believe the cooperation with them will contribute to developing the country’s economy, attracting investments and creating new, high-paying jobs in this particular field.

In comments made after a recent panel called “Future Now! A new era of Montenegrin finances,” Buterin stated that Montenegro must have a good legislative basis as well as the necessary capacity to educate the young generations so that its citizens can benefit from the technologies associated with digital assets.

The co-founder of Ethereum, one of the best-known representatives of the crypto space, is expected to support the further promotion of Montenegro and the overall development of the blockchain industry in the small Balkan nation. The country is currently working on a comprehensive legislative framework that would enable the best use of crypto technology and spur growth in the sector.

Tags in this story
Balkan, Blockchain, blockchain technology, citizen, Citizenship, co-founder, Crypto, Crypto Experts, crypto industry, crypto sector, Cryptocurrencies, Cryptocurrency, Ethereum, experts, Investments, Montenegrin, Montenegro, passport, Southeast Europe, Vitalik Buterin

Do you think Montenegro will try to become a crypto hotspot in Southeast Europe? Let us know in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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. 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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Latin American Bitcoin adoption gathers pace as Brazil makes its move

Latin American Bitcoin adoption gathers pace as Brazil makes its move


A comprehensive regulatory framework for Bitcoin (BTC) and cryptocurrency in Brazil is moving closer to reality. Lawmakers will push for draft proposals to be implemented in the first half of 2022.

If passed, Brazil will join the growing list of Latin American countries welcoming cryptocurrency at the governmental level.

What would this mean for Bitcoin in Brazil?

The primary goal of House bill 4401/21 is to establish an agency to oversee the cryptocurrency industry in Brazil. This body would be responsible for managing the activities of service providers, such as exchanges.

“The agency will be tasked with authorizing and controlling the functioning of cryptocurrency service providers, including brokers and exchanges.”

The rules extend to legislate against criminality as it pertains to digital assets. Those who take illicit advantage of others via cryptocurrency face four to eight years in prison and a fine.

And, in a significant step forward for industry players, the bill also exempts “legal entities” from some taxes regarding activities to do with “processing, mining and conservation of virtual assets.”

“the bill would exempt hardware and software from certain taxes if used by legal entities for the processing, mining and conservation of virtual assets.”

Latin America hailed as crypto’s next big wave

Last week, Honduras announced it would accept Bitcoin as legal tender in the Honduras Prospera special economic zone. This hub represents a new model for economic development which intends to attract capital and innovation to the region.

Underpinning this grand futuristic vision is the use of Bitcoin by all who set up base there. And it appears that this new wave of thinking is spreading across the Latin Americas.

This is primarily down to two factors, which are prominent issues in the region — financial inclusion and bringing economic stability amid out-of-control inflation.

In the case of El Salvador, data shows that 70% of the population does not have a bank account. But demand for financial inclusion is there, as evidenced by the Lightning Network-based Chivo wallet uptake. One month after launching, twice as many Salvadorians held one versus a bank account.

Similarly, many Latin American countries suffer from runaway inflation, the prime example being Venezuela, which saw a 350,000% peak in 2019. However, inflation has been trending down over the last 12 months, dropping from 2,940% in April 2021 to 284% in March 2022.

Bitcoin is gaining ground as a movement to democratize finance. And when faced with difficult living conditions, as often seen in Latin America, it’s no wonder locals seek alternatives to the status quo.



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How to Buy Crypto on Webull

How to Buy Crypto on Webull

As crypto gains wider adoption, more and more traditional stock trading platforms see the value in integrating cryptocurrency investment into their functionality. In November of 2020, Webull became one of those platforms announcing its adoption of crypto. Since then, Webull has added to the number of supported cryptocurrencies, becoming a great option for getting started in crypto.

If you’re looking to buy crypto on Webull, you’ve come to the right place. In this Webull crypto review, we’ll go over everything related to Webull Crypto, from creating your Webull account to making the most of the platform’s features and services.

Let’s dive right in!

Webull Overview

Webull homepage

Webull is an electronic trading platform founded in 2017 by Wang Anquan. This makes it a relative newcomer: For comparison, the digital-only trading platform Robinhood, Webull’s main competitor, was founded in 2013.

In August of 2020, the number of registered users was 11 million, with an average age of 40 and an average account holding about $4000. Webull’s userbase has further grown since then.

The trading platform offers trading of stocks, exchange-traded funds, margins, options, and crypto without commissions. One of its key advantages is the availability of extremely user-friendly mobile and desktop versions.

Webull’s mobile-first philosophy, however, doesn’t detract from its arsenal of advanced charting and screener tools. The intuitive and simple interface of the Webull app allows one to register and start trading in just a few minutes. A full tour of the platform usually takes about 30 minutes.

The platform is cost-effective: It has no deposit minimums and charges no commissions. While Webull has some clear shortcomings, such as the relative lack of educational resources and no option for mutual trading, it is still a solid option for active traders.

Webull’s integration of crypto trading has given its userbase of traditional traders the option of further diversifying their portfolio without learning the ropes of a dedicated crypto exchange, such as Coinbase. Upon launch, Webull Crypto supported only a handful of crypto assets but has since grown to include 23 additional cryptocurrencies, such as Terra (LUNA) and Decentraland (MANA).

Webull Financial LLC is a member of the Financial Industry Regulatory Authority, Securities Investor Protection Corporation, The New York Stock Exchange, NASDAQ and Cboe EDGX Exchange, Inc.

The trading platform is owned by Fumi Technology, a China-based holding company. Its investors include Xiaomi, Hongdao Capital, and Shunwei Capital. While the company is headquartered in New York, the technological aspects are handled by a team in Hunan, China.

Webull Features and Services

Webull offers a great variety of features and services, from margin trading to in-depth portfolio analysis. Here’s a list of the most essential of them.

  • Free trading of most products
    As per the industry standard, you can purchase stocks, options, ETFs, ADRs, and crypto with zero commissions. However, note that the platform charges 1% both when you buy and sell crypto on Webull.
  • Smooth user experience
    Both the mobile app and the desktop version are well-designed, so you can perform complex analyses of the market via 50+ Webull widgets and then invest in crypto funds from all around the world with no setbacks.
  • Attractive signup promotions
    Webull offers very attractive signup promotions. For example, now you can get five free stocks if you open and fund a new account. Or, you can get $5 worth of crypto if you complete your first crypto transaction. These promotions further incentivize people to sign up and buy crypto or invest in stocks via Webull specifically.
  • Fractional coins
    As you know from Bitcoin, some cryptocurrencies now cost so much that a regular trader will have trouble purchasing one unit of it. Luckily, Webull offers fractional coins, meaning you can just invest in a fraction of a coin.
  • Instant settlement of crypto transactions
    While equities such as stocks and ETFs take a few days to appear in your account after a transaction, crypto settles instantly. It’s easy to understand why: Neither buying crypto nor selling crypto requires physical processes to occur.
  • 23-hour availability
    Since no officially recognized exchange regulates or brokers crypto trading, it’s open almost 24/7. There is an hour of maintenance work every day, so you can trade crypto on Webull 23/7 without holidays.
  • Great margin trading rates
    As you probably know, margin trading is essentially trading with borrowed money. On Webull, you can borrow up to three times your account equity. Bear in mind that Webull asks you to have at least $2000 on your account before you get margin trading access. Plus, you’ll be paying margin interest rates on a daily/monthly basis.
  • Stellar support
    Webull support is there for you 24/7 online or via phone. Any issues you encounter will be addressed in a timely manner. Webull customer support has multiple positive reviews, so you’ll likely encounter friendly and responsive staff.

How to Buy Crypto on Webull

Webull crypocurrencies page
Webull cryptocurrencies page

Registering on Webull is a breeze. Just follow these steps and you’ll be trading crypto in no time.

Step #1: Create an Account

Webull Sign in Sign Up page
Webull Sign in page

You need to be over 18 years old and have a valid US ID to open a Webull account. After you fill out your phone number and verify it, you’ll need to submit your ID. All accounts are verified within 24 hours and most take about an hour.

Step #2: Request Permission

Once you have your account, you’ll need to request permission to trade crypto on Webull. For that, you must navigate to the Crypto Trading page.

Step #3: Add Funds

After you’re granted permission to trade crypto on Webull, you must add funds to your account. Just like with most platforms, you may use your bank account, wire the funds, do a bank-to-bank transfer, etc. Wire transfers are significantly faster than electronic ones, but your bank account will be charged extra fees by both Webull and your bank.

Step #4: Pick a Cryptocurrency

Should you go with Bitcoin Cash or Shiba Inu? Maybe ETH or REN? Next up you must choose the cryptocurrency you want to invest in. Here you may want to do your research: There’s an art to buying crypto, and you have to master it.

You can purchase via a market order or a limit order. What’s the difference between the two? A market order is carried out immediately at the current crypto exchange rate, a limit order is carried out only if certain conditions are met.

Step #5: Start Managing Your Holdings

Start crypto portfolio on Webull
Start crypto portfolio on Webull

After buying crypto, you must start tracking and managing it. While Webull offers a pretty extensive toolset for keeping an eye on your holdings, you may want to try out crypto-specific trackers.

Investment Advice Disclaimer: The information contained on this website is provided to you solely for informational purposes and does not constitute a recommendation by CoinStats to buy, sell, or hold any securities, financial product, or instrument mentioned in the content, nor does it constitute investment advice, financial advice, trading advice, or any other type of advice. Our information is based on independent research and may differ from what you see from a financial institution or service provider.

Investments are subject to market risk, including the possible loss of principal. Cryptocurrency is a highly volatile market and sensitive to secondary activity, do your independent research, obtain your own advice, and be sure never to invest more money than you can afford to lose. There are significant risks involved in trading CFDs, stocks, and cryptocurrencies. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider your circumstances and obtain your advice before making any investment. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant regulators’ websites before making any decision.

Webull Pros and Cons

Of course, no platform is perfect, but if you’re looking to start trading crypto on Webull, you’ll find more advantages than shortcomings.


  • A smooth and intuitive mobile app experience
  • Effortless registration process
  • Advanced tools for detailed analytics and market data processing
  • No-commission trading for most products
  • No minimum balance requirements or ongoing fees
  • Easy way to branch out and try more traditional trading
  • High-level security
  • 24/7 support online and over the phone


  • If you’re a seasoned crypto investor, you’ll find the list of coins limited
  • Webull Crypto doesn’t offer a wallet, so you can’t withdraw crypto directly
  • You don’t technically “own” your crypto assets, you don’t have the keys to transfer crypto
  • Limited educational resources
  • You must reside in the US and have valid US ID to open an account


Have a question about your Webull account, the Webull app, or some aspect of Webull Crypto? We have the answers.

Which Cryptocurrencies Are Available on Webull?

Initially, Webull Crypto supported a very limited number of crypto assets. As of April 2022, it supports Bitcoin (BTCUSD), Ethereum (ETHUSD), Ethereum Classic (ETCUSD), Litecoin (LTCUSD), Bitcoin Cash (BCHUSD), Dogecoin (DOGEUSD), Shiba Inu (SHIBUSD), Decentraland (MANAUSD), Zcash (ZECUSD), Stella Lumens (XLMUSD), Cardano (ADAUSD), Dash (DASHUSD), Basic Attention Token (BATUSD), Aave (AAVEUSD), Chainlink (LINKUSD), Uniswap Protocol Token (UNIUSD), Algorand (ALGOUSD), Polygon (MATICUSD), Sushi (SUSHIUSD), Avalanche (AVAXUSD), Terra (LUNAUSD), REN (RENUSD), Solana (SOLUSD), Cosmos(ATOMUSD), Fantom (FTMUSD), Tezos (XTZUSD), The Graph (GRTUSD), CurveDAO Token (CRVUSD), Loopring (LRCUSD), USD Coin (USDCUSD), Coin (CROUSD), Harmony (ONEUSD), (YFIUSD), and Apecoin (APEUSD) through Apex Crypto llc.

Note that the crypto market is evolving fast and you may not find the coin you wanted to invest in here, but stay tuned because Webull is constantly working on adding to its list of available crypto assets.

How Does Webull Compare to Other Crypto Trading Platforms

If you compare Webull to other electronic trading platforms that also offer crypto, such as Robinhood, Webull has some advantages. For example, Webull offers extended trading hours and a significantly longer list of cryptocurrency assets. On the other hand, however, Robinhood has a more robust security system and allows users to fund their accounts via a debit card. Webull doesn’t offer that functionality yet.

But if you’re looking to buy crypto specifically and compare Webull to dedicated cryptocurrency exchanges and crypto wallets, it does fall short. First of all, crypto-specific platforms offer more diversity. Secondly, the freedom to buy and sell crypto from a wallet directly without liquidating is significantly more convenient. And finally, a lot of crypto enthusiasts are looking to not only buy crypto to hopefully watch it gain value but are also looking to own it, and that often means owning the keys to a wallet also.

Besides, in contrast to Webull and Robinhood, dedicated crypto platforms are more often than not open internationally, because anonymity and globalism constitute an important part of the crypto ecosystem’s purpose and philosophy. In an increasingly interconnected world, this means crypto-specific companies have a lot of leverage.

Does Webull Offer A Crypto Wallet

Unfortunately, Webull doesn’t offer a crypto wallet, so you cannot freely transfer crypto to and from your account.

Is Webull For Me

If you’re an active trader who’s looking to benefit from the extended trading hours or if you want to invest in stocks, options, and ETFs in addition to crypto from one place, Webull is for you. Especially if you’re a millennial, you will appreciate the flexible mobile-first approach of the platform.

Here’s how Webull CEO Anthony Denier has described the platform’s users:

“Our traders are very quick to take positions. They go in and out of positions very, very fast. They tend to use sophisticated analytical tools such as charting and backtesting to decide when to enter and exit their trades.”

If this sounds like you, Webull may be the right trading platform for you.

Can I Transfer My Webull Crypto to Another Wallet

No, you cannot transfer your crypto holdings from Webull to another wallet without liquidating it (turning it into $ first). This is a definite disadvantage for serious crypto investors, who value flexibility in transferring holdings above all.

Is Webull Safe

Yes, Webull is as safe and legitimate as any other online broker. The SIPC coverage for your investments, 2-factor authentication, and various cybersecurity measures safeguard your Webull investments.

But you have to note that the traditional trading on Webull (stocks, options, etc.) is managed by a different body than crypto on Webull. The former is done through Webull Financial LLC, which is registered and regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

On the other hand, Webull Crypto llc is not a registered broker-dealer, not a FINRA member, and not FDIC or SIPC-insured.

Is Webull Free

Yes, Webull is free to use. The 1% markup/markdown they charge is included in the exchange rate. If you want access to premium data, however, it’s anywhere between $2.99 to $24.99 per month. Webull, just like any online broker, makes money from margin trading interest rates, deposit and withdrawal fees, and order flow.


Crypto trading on Webull has many advantages, especially if you’re a newcomer to the world of crypto and just want to test the waters. The advantages include the excellent mobile app, the extended trading hours, the availability of margin trading on competitive terms, and the option to invest in stocks and other more traditional assets from one place.

That being said, if you’re an intermediate or professional crypto investor, and crypto trading is your main focus, you may want to use dedicated cryptocurrency exchanges and crypto wallets: Being free to swap coins whenever, keeping funds in a hardware wallet, and having the option to invest in 20,000+ coins (like on CoinStats, for example) is priceless.

Hope you enjoyed this Webull Crypto review. Make sure to check out our guide on buying crypto on Robinhood next. And good luck with your trading going forward!


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BoJ official says digital yen won’t be used to achieve negative interest rate

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The Bank of Japan (BoJ) has said that its central bank digital currency (CBDC), the digital yen, will not be used to help attain negative interest rates. 

The BoJ’s executive director, Shinichi Uchida, made the announcement in his most recent public speech.

“While the idea of using such a functionality as a means to achieve a negative interest rate is sometimes discussed in academia, the Bank will not introduce CBDC on this ground.”

Japan initially adopted negative interest rates in 2016 in an attempt to combat decades of deflation by encouraging borrowing and spending. Negative interest rates are only used as a last resort by central banks during a recession to stimulate an economy by encouraging borrowing and spending, with interest being paid to borrowers rather than lenders.

Echoing this sentiment was former head of the BoJ’s financial settlement department Hiromi Yamaoka, who warned earlier this year that CBDCs could potentially destroy the Japanese economy. While Yamaoka agreed with the idea of digitizing payment methods, he did not support the idea of using a CBDC for it.

Senior Wall Street Journal columnist James Mackintosh has similarly argued that the difference between a CBDC and cash would be highlighted if interest rates fell below zero. People would be more inclined to hold on to physical cash to “earn zero” rather than lose money on a digital dollar issued by the central bank.

In his speech, Uchida stated that if the creation of the digital yen does move forward, then Japanese citizens can expect the CBDC to be released with a series of unique features.

The bank is considering imposing a limit on the transaction amount of each individual or entity for the duration of the pilot and is also contemplating whether or not to make the digital yen an interest-bearing asset.

The BoJ first shared its three-phase trial outline for its central bank digital currency in October 2020. The first two phases of the trial are focused on testing the proofs-of-concept while the third phase would see a pilot currency be launched.

The first phase began in April 2021 and finished on March 22 of this year. The BoJ began its second phase of trials on March 24, stating that it would begin testing the more technical aspects around the issuance of the digital yen.

However, the governor of the BoJ, Haruhiko Kuroda, announced at Japan’s FIN/SUM fintech summit earlier this month that it has no plans to introduce a CBDC anytime soon.

Related: Former BOJ official warns against use of digital yen in the financial sector

Kuroda explained that the BoJ plans to carefully consider the expected roles of central bank money in the lives of Japanese citizens before making any major decisions or announcements.

“We consider it important to prepare thoroughly to respond to changes in circumstances in an appropriate manner, from the viewpoint of ensuring the stability and efficiency of the overall payment and settlement systems.”

The popularity of CBDCs continues to grow as governments around the world look to the potential benefits of digital assets. On Tuesday, Brazil’s central bank confirmed that a CBDC pilot program would be launched by the second half of this year, while the Reserve Bank of South Africa finalized its technical proof-of-concept concerning its CBDC.