Vitalik Buterin Becomes Citizen of Crypto-Friendly Montenegro – Bitcoin News
[ad_1]
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 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.
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. 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.
Latin American Bitcoin adoption gathers pace as Brazil makes its move
[ad_1]
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.
Get an Edge on the Crypto Market 👇
Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.
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.
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
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.
Pros
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
Cons
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
FAQs
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), Crypto.com Coin (CROUSD), Harmony (ONEUSD), yearn.finance (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.
Conclusion
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!
BoJ official says digital yen won’t be used to achieve negative interest rate
[ad_1]
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.
The price of the Shiba Inu (SHIB) token went up approximately 20% since the end of last week. The reason behind the rally is twofold: one is that 2.41 billion Shiba Inu have been burned, e.i. sent to so-called inferno wallets in order to make the popular dog token more scarce and lift its price.
The burn was announced by the @shibburn Twitter account, and the burnings of SHIB tokens can be followed on the shibburn.com website. According to the @shibburn tracking account, several massive amounts of Shiba Inu have been burned, adding up to a total of around 2.41 billion SHIB tokens.
In the past 24 hours, there have been a total of 324,040,132 $SHIB tokens burned and 9 transactions. Visit to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
The burning of SHIB tokens, which is not unusual per se, was done through a series of portions, among which the biggest one amounted to 1,351,643,000 tokens burned between April 8 and 9. Besides this bigger portion, other burns amounted to 442 million and another one burned slightly more than 258 million SHIB tokens. Also, a total of just more than 324 million have been burned in portions of nine transactions in the past 24 hours alone.
However, the large burn of SHIB tokens since the end of last week was not the only driver for the increase in the market value of the meme coin. According to the WhaleStast Twitter account, the second reason behind the increase in market value might be the fact that a large whale bought a staggering amount of 775,473,150,952 SHIB, equivalent to $20,697,378 at the time of the transaction.
The Whale, in ether (ETH) terms, and the owner of the wallet “BlueWhale0073”, is ranked number 12 by WhaleStats – a service that keeps track of the top 100 wallets on the Ethereum blockchain. Shiba Inu is an ERC-20 token on the Ethereum network.
🐋🐋🐋🐋🐋 ETH whale “BlueWhale0073” just bought 775,473,150,952 $shib ($20,697,378 USD).
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) April 13, 2022
Robinhood adding support for SHIB
Both the SHIB token burns and the large purchase by BlueWhale0073 coincide with the announcement that the popular investment- and trading app Robinhood is adding support for SHIB, along with Solana (SOL), Compound (COMP), and Polygon (MATIC). Robinhood finally gave in after the so-called SHIB Army had been asking the trading app to list SHIB for several months.
All four tokens now added to Robinhood sawa rise in market prices following Robinhood’s announcement, SHIB with as much as 20%. Since the crypto market, in general, has been on the gloomy side the past few days, market values of these tokens have fallen back to levels prior to Robinhood’s announcement.
At the time of writing, the SHIB token is valued at $0.00002664, down 3.4% over the past 24 hours.
Get an Edge on the Crypto Market 👇
Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.
How to Buy Biswap (BSW) | Where, How and Why
[ad_1]
The BSC (Binance Smart Chain) is arguably the most diversified blockchain in the DeFi space, with thousands of unique coins serving various purposes. Biswap is one sparkling gem hidden in the BSC mine. It’s the first DEX (decentralized exchange) platform on BNB Chain with great features that challenge many popular BSC DeFi platforms, including PancakeSwap.
Biswap is a decentralized exchange platform that allows users to swap BEP-20 tokens on the Binance Smart Chain network. Biswap ensures higher speed and competitive network transaction costs and aspires to become the industry standard for DEX platforms and the market’s premier platform for token swaps.
Read on to learn everything you need to know about Biswap and how to buy Biswap in a few simple steps.
Let’s jump right in!
PROS
The lowest fees (0.1% per swap) among all the decentralized exchanges on the Binance smart chain.
Farms that provide high APY, with some offering as much as 600% or more.
Three-tiered referral system via which users can earn passive income.
A SAFU insurance fund was created to protect users against potential funds loss. This function receives 1% of the entire tokenomics budget.
Transaprent fee structure.
Audited by Certik, one of the major audit firms in the crypto realm.
CONS
A new exchange that hasn’t stood the test of time.
Only for coins/tokens that are part of the Binance Smart Chain. Binance, a centralized legal corporation, is linked to the BSC. As a result, if something happens to Binance (for example, if it’s sanctioned), it might have a cascading effect on the entire BSC and on Biswap.
The team is anonymous. This implies that they can disappear at any moment if they want to.
Everything is decided by the team. Community governance and voting procedures are yet to be developed.
What Is Biswap
Biswap (BSW) is a Binance Smart Chain decentralized exchange (DEX) for BEP-20 tokens (BSC). Biswap promises the lowest transaction fees of any BSC exchange at 0.1% and is committed to DeFi innovation through high-quality products and services. Its three-type referral system allows users to invite friends and earn referral money from farms, launch pools, swaps, and a lottery. Biswap’s key offerings are an AMM, yield farming, Liquidity Pools, an NFT marketplace, an IDO Launchpad, etc.
Biswap’s roadmap includes the following goals:
Improvements in its NFT marketplace
A swap referral program
Listing on major crypto exchanges
Borrowing and lending
Limit orders
A personal user dashboard
Cross-chain support.
Biswap also announced a $10 million global incentive program to encourage collaboration with other BSC projects. Fee reimbursement of 90%, farming pairs with BSW, a launch pool, marketing promotion, and subsidies for security audits and project development are all available to partners.
BiSwap Exchange Features
BiSwap Exchange provides its users with a plethora of features, such as:
Launchpools: The platform interface allows users to earn extra BSW and other tokens by staking BSW in relevant Biswap Launchpools. There are two types of pools: auto-compounding and non-compounding tools, and they both provide competitive interest rates. In addition to BSW, the launchpools allow you to farm tokens like CAKE, DOGE, BUSD, etc.
Liquidity Mining: You can deposit funds into any pool on the Biswap Exchange platform. To do so, go to the website’s “Liquidity” tab and select the “Add Liquidity” button. Choose the pool you want to provide liquidity to, and you’ll be given a liquidity provider token that you can stake on the Biswap farms. Besides earning BSW, you can also obtain a percentage of the trading fees generated by that pool.
Transaction Mining: This cashback program allows traders to receive 100% of their trading fees back in BSW tokens. The site generally charges a minimal transaction fee of 0.1%. With this functionality, the fee is further reduced to zero in some circumstances.
Yield Farming: On the BiSwap website, you’ll find a variety of farms where you can use your LP tokens to double your earnings.
Competitions: To reward users, interact with the community, and highlight new exchange listings, Biswap organizes trading and other competitions.
Referral Program: There are three ways to earn referral rewards on Biswap. You get a cut of trading costs, receive a certain commission reward each time their referrals make swaps on the Biswap platform, and a 5% return in BSW tokens from their referrals’ earnings from farming and Launchpools. Furthermore, the incentives are derived from BSW block emissions, accounting for 4.3% of the overall tokenomics.
Who Are the Founders of Biswap
Biswap was founded in 2021. It has 27 employees listed on its website, but the team is anonymous and presented as only comic avatars on the site. “EK,” the CEO, is said to be a crypto veteran with seven years of expertise. Almost every member of the Biswap team claims to have several years of experience in their field, but no specifics are given. Biswap makes no mention of any potential investors.
What Makes Biswap Unique
First and foremost, Biswap differentiates itself by charging lower transaction fees than other decentralized exchanges. Biswap claims to charge only 0.1% in fees, compared to 0.25% on Pancakeswap, and 0.3% on Mdex, Apeswap, and other BSC DEXs. As an incentive, 0.05% is returned to liquidity providers, and 0.05% is used for BSW token burning. Biswap retains the right to raise the fees in the future and add a team allocation. It does, however, pledge to keep the fees below the industry average.
Users can participate in transaction mining, which means they can receive up to 90% of the 0.1% swap fee, depending on the trading pair. They can also provide liquidity to pools and earn BSW farming incentives. Biswap also features an NFT marketplace, allowing users to buy NFTs with 4 other cryptocurrencies: BNB, WBNB, BUSD, and USDT. Biswap also offers its own NFTs, known as NFT Earn, including an NFT Launchpad, NFT Boost, NFT Staking Pool, and NFT Level Upgrade. Users can purchase “Robi NFTs” and stake them to gain profit.
The Biswap lottery is a game where participants can win “large BSW rewards.” Each user can buy an unlimited number of tickets, with 80% of the proceeds going to the prize pool.
Finally, Biswap offers an IDO Launchpad, allowing other blockchain companies to use Biswap to launch their tokens. The DEX claims to have over 300,000 active users and provides a $10 million incentive scheme to new participating projects.
How Is the Biswap Network Secured
BSW is a BEP-20 token on Binance Smart Chain (BSC), which is secured by a Proof-of-Stake (PoS) consensus mechanism. Every 24 hours, 21 validators are elected to validate transactions and keep the blockchain secure. To be eligible, these validators must stake a specified amount of Binance Coin (BNB) with Binance. Biswap has a bug bounty program as well. Depending on the security issue, you might receive anywhere from $10 to $100,000 for reporting vulnerabilities.
Biswap has been audited by Certik, one of the leading DeFi audits to date.
There are more than 350 million dollars in total locked value (TLV), which gives more security and credibility to Biswap.
How Many Biswap (BSW) Coins Are There in Circulation
BSW is the exchange’s governance token, with a total supply of 700 million. The 600 million BSW will be distributed as follows:
Farms / Launchpools: 80.7%
Team: 9%
Investment Fund: 5%
Referral Program: 4.3%
SAFU (an emergency insurance fund for all users): 1%
The remaining 100 million BSW has been allocated 70/30 between NFT (Earn), GameFi (Play to Earn), Strategic Partnerships (70%), and Transaction Fee Mining (30%). Biswap also implements several deflationary mechanisms, including burning 50% of transaction fees, 13% of lottery tickets, 10% of sales proceeds, and 10% of new NFT mints.
Biswap BSW Tokenomics
According to the data on CoinStats, Biswap BSW has a maximum token supply of 700,000,000 and a total supply of 263,971,340. The current circulating supply stands at 225,403,465 tokens (~32% of the total token supply). You can also check the BSW current price, market cap, total supply, circulating supply, trading volume, price chart, and other metrics on CoinStats.
Where Can You Buy Biswap (BSW)
Binance and Gate.io are the most popular cryptocurrency exchanges in terms of trading volume to purchase BSW. There are many other major exchanges where you can buy Biswap, such as BKEX, MEXC, PancakeSwap, Hoo, etc. Make sure to conduct your own research and compare the exchange’s reputation, fees, and deposit methods, such as a bank account, a credit/debit card, or another crypto, like Bitcoin, before making a decision.
To create an account on most exchanges, you’ll need to comply with the KYC procedure and provide personal information like name, email address, phone number, home address, and a copy of your government ID or passport.
Best Crypto Exchanges to Buy Biswap
Binance
Binance homepage
Binance is one of the leading cryptocurrency exchanges in terms of trading volume. Low exchange fees and high liquidity are among the advantages of buying Biswap BSW on Binance, allowing you to buy and sell digital assets rapidly to take advantage of market possibilities.
Although US customers are not permitted to buy BSW on this platform, it’s best suited to users from Canada, Australia, the United Kingdom, Singapore, and other countries.
Gate.io
Gate.io, founded in 2013, has evolved into a recognized trading platform. While it’s not the most popular exchange, it offers an easy-to-use interface to beginners and comprehensive and sophisticated charts to traders of all skill levels, including technical traders. The exchange has a vast number of cryptocurrencies, including Biswap BSW, and is frequently the first to introduce new tokens.
This exchange presently accepts citizens of the United States, except for New York and Washington State.
BKEX
BKEX, a global digital asset trading exchange, was founded in the British Virgin Islands in 2018. It’s a blockchain asset subscription and trading exchange under BK Group that was built by Wall Street’s senior quantitative team and the world’s top risk control talents. BKEX uses the world’s top security technology and is dedicated to maximizing the aggregation of global high-quality blockchain assets. BKEX Global has provided users in over 100+ countries and regions with safe, efficient, and intelligent circulation services of blockchain assets.
MEXC
MEXC Exchange, founded in April 2018 in Seychelles, East Africa, is one of the world’s largest digital asset trading platforms. The team’s core members come from world-class organizations and financial firms with extensive experience in the blockchain and financial industries.
The MEXC Exchange continues to develop and integrate one-stop trading services for digital assets, such as spot, margin, and contract trading, leveraged ETF, etc. MEXC has an experienced security team and collaborates with other top-tier security firms to fully secure the safety of user assets. MEXC has applied for compliance licenses in 4 countries since its inception, including Estonia, Canada, and the United States.
PancakeSwap
PancakeSwap homepage
PancakeSwap is one of the largest decentralized exchanges (DEXs) based on the Binance Smart Chain. It’s an automated market maker (AMM) system that allows crypto trading with user-generated liquidity pools.
PancakeSwap is an alternative to Uniswap and other more established Ethereum-based DEXs. PancakeSwap was created in September 2020 by anonymous developers. The team comprises more than a dozen members (referred to as chefs), including two co-leads (referred to as Hops and Thumper) and other engineers. PancakeSwap is partially managed by the community, and CAKE holders can vote on governance proposals using PancakeSwap’s voting platform.
How to Buy Biswap BSW Using a Decentralized Exchange
Follow our step-by-step guide to easily buy Biswap:
Find Biswap BSW on a decentralized exchange and ensure Biswap can be traded for BNB, Binance’s native asset. Binance Smart Chain’s most popular DEX is PancakeSwap. Register an account following the exchange’s requirements.
Using an exchange such as Crypto.com, buy BNB to trade for BSW and pay for transaction fees (known as gas fees) on the BSC network, usually less than 1 USD.
Transfer the BNB into a web 3.0 wallet such as MetaMask to connect to the DEX.
Follow the on-screen instructions to trade BNB for BSW on PancakeSwap. Make sure you have enough BNB in your wallet to cover gas fees.
Wait for the transaction to be completed, and you’ll receive the BSW tokens in your wallet.
You can now store the BSW tokens in your web 3.0 wallet or move them to a more secure hardware wallet.
What to Consider When Buying Biswap BSW
Buying cryptocurrency is a risky venture, but there are several steps you can take to reduce risk:
Don’t buy coins based on FOMO: Spend time investigating a coin before investing, especially if the price is skyrocketing for no apparent reason.
Stick with well-known exchanges: Unless you’re a seasoned cryptocurrency trader, stick to more well-known crypto exchanges to avoid losing money in a scam. If possible, keep your cryptocurrency in a hardware wallet rather than on an exchange.
Investigate the coin’s creators and developers: Anonymous teams are frequently a red flag, so you might consider investing in a different cryptocurrency if you can’t locate information about the coin’s developer.
How to Sell Biswap
You can follow the same process to cash out your BSW with the same exchange you bought it through:
1. Sign in to the exchange account where you have BSW.
Compare crypto exchanges to sell your Biswap if you keep it in a digital wallet.
2. Place a sell order.
Select the amount of BSW you want to sell.
3. Complete your transaction.
Confirm the selling price and fees, and complete your sale of BSW.
Closing Thoughts
Biswap is a new player but has already established itself as a capable competitor in the Binance Smart chain ecosystem with a Total Value Locked (TVL) of 644.83 million and a market capitalization of $345.27 million.
Biswap deserves consideration because of its skilled team, strong tokenomics, active and expanding user base, unique features, products, and attractive staking and farming opportunities.
You can also visit our CoinStats blog to learn more about wallets, cryptocurrency exchanges, portfolio trackers, tokens, etc., and explore our in-depth buying guides on how to buy various cryptocurrencies, such as How to Buy Bitcoin, What Is DeFi, How to Buy cryptocurrency, etc.
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.
Cryptocurrency is a highly volatile market and sensitive to secondary activity, do your independent research, obtain your own advice, and only invest what 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.
FAQ
Which Is the Best Exchange to Buy Biswap
Currently, Binance is the best exchange to buy Biswap. Other exchanges that support BSW are Gate.io, PancakeSwap, BKEX, MEXC, and Hoo.
Where Can I Buy Biswap With Fiat
If you wish to buy Biswap with fiat currency, you can purchase USDT on Kraken with fiat currency and then transfer your USDT to an exchange that supports Biswap. Binance, for example, is the most popular exchange for trading USDT.
On Which Exchange Can I Buy Biswap With Credit Card
Biswap can be purchased using a credit card on Binance and other cryptocurrency exchanges such as Gate.io, Bitget, and Bitrue. Using a credit card to buy cryptocurrencies is a quick and simple payment method, but it often comes with higher fees than other fiat-based methods.
Which Are the Most Popular Biswap Trading Pairs
BSW/USDT is the most popular Biswap trading pair on different cryptocurrency exchanges.
Algorand Looks to Prove Why Algoracle Is Needed in the Contemporary Blockchain and Crypto Sector – Press release Bitcoin News
[ad_1]
press release
PRESS RELEASE. As the complexity of current dApps (decentralized applications) on Algorand grows, so must the infrastructure, notably oracles, to enable significantly higher and better feature sets. In the Algorand ecosystem, Algoracle’s opinions on off-chain computing are therefore worth discussing in key detail.
What is it exactly?
Since smart contracts are unable to access external data on their own, all Web 3.0 technology is built on the foundation of the most crucial of blockchain middleware, oracles. The current generation of decentralized oracle networks therefore seeks to connect real-world, off-chain data to blockchains. As the complexity of contemporary dApps grows however, oracles must also mature and expand to accommodate significantly higher and deeper feature sets as aforementioned.
The next major frontier in oracle development is indeed off-chain computing, which essentially allows oracles to handle significantly more advanced programming logic as well as data aggregation requests on behalf of smart contracts in a permissionless way before publishing the data on-chain. As such, streamlining and enhancing the functionality of oracle off-chain computation not only greatly improves smart contract execution, cost efficiency, and scalability, but it additionally provides decentralized applications with an excellent quality of life features that we often take for granted in Web 2.0, which includes things like push notifications and transaction automation, without requiring dApps to rely on multiple services with varying levels of centralization.
Why is any of this important?
It is simple to envision that as teams construct more sophisticated dApps, the kinds of data sourcing, processing, and computing will become increasingly complicated. An application would often need to pull data from numerous sources while applying certain parameters and filtering logic. Aggregating data from several APIs, selected statistical methodologies, and various data types implies that these activities quickly get needlessly complex. As a result, more efficient methods of doing off-chain processing and applying logic to various circumstances and use cases are critical.
Furthermore, most EVM oracles currently offer rudimentary ways for requesting certain APIs, allowing users to choose the URL or JSON from which to send data, although they do not natively support data aggregation logic. Aggregated data streams are frequently built up or enabled on a case-by-case basis, resulting in data centralization and inflexibility regarding logic application.
A considerably superior oracle design, from the perspective of a developer, would thus enable off-chain data aggregation for general computation. Simply put, oracles should function similarly to Layer-2 smart contracts, where any high-level programming language may be utilized to execute trustless reasoning. Builders ought to have access to a uniform interface that is pre-programmed with this specific goal in mind.
So what’s the issue and how can Algorand help?
Sadly, due to outdated code and the necessity to manage backwards compatibility for current clients, the previously mentioned crucial quality-of-life changes and additions are extremely difficult to execute in existing V1.0 oracles. Attempting to roll out improvements that would improve off-chain computing in present state oracles would hence be analogous to adding new components to an already-flying airplane. Due to this, most oracle V2.0 upgrades would often still leave developers maintaining a plethora of interfaces, both for data feeds and Layer-2 operations.
Algoracle is working on creating a unified interface with off-chain processing in mind, made possible by the intelligent implementation of the Algorand consensus. The significance of Algorand’s Pure Proof of Stake (PPoS) consensus is that its advantages can be simply duplicated for oracle data. The PPoS strategy, based on the Byzantine consensus, avoids standard Proof-of-Stake (PoS) security issues by fortifying the network with an emphasis on a transparent majority without bias based on each validator’s entire stake.
In other words, instead of forced token lockups and the risk of big stakeholders exerting monopolistic control over the network in PoS, PPoS will instead introduce an egalitarian method which randomly selects validators from the entire validator body, thereby removing entry barriers along with any minimum stake requirements.
Since its inception, Algorand has been able to achieve incredible performance, scale, and 100% uptime because of this random selection mechanism, also known as the Verifiable Random Function (VRF) cryptographic sortition. Silvio Micali, the creator of Algorand, was a fundamental architect behind the concept of VRFs, which are now one of the most important building elements for cybersecurity and cryptography applications.
The importance of VRFs
Essentially, a VRF is a tamper-proof random number generator. Such a resource is extremely beneficial for smart contracts dealing with lotteries, auctions, assignment or selection of roles, or any other activity that requires trustlessly verified unpredictability.
Algoracle can deliver a superior ‘VRF-as-a-service’ offering while also creatively deploying VRFs at the node network consensus level to reach peak oracle efficiency by piggybacking on Algorand’s PPoS consensus and bottom-up creation of a unified interface.
By integrating VRFs at a lower level, Algoracle is hence able to deliver improved reliability and effectiveness. Algoracle’s implementation of VRF in PPoS consensus, which ensures assured random sampling of validators, permits not just next generation off-chain computing, but also many essential functionalities taken for granted in the Web 2.0 world that currently evade the offers of oracle providers today.
About Algoracle
Algoracle, the first dynamic, decentralized oracle network constructed on the Algorand blockchain, was developed in the autumn of 2021 and won first place in the Encode’s Algorand Hackathon.
The goal of Algoracle is to provide easy and accessible oracle solutions to help dApps built on Algorand access off-chain data safely, precisely, and fast. By providing decentralized participation which is guaranteed for all independent node operators and users wishing to contribute to the network for economic stimulation, Algoracle intends to be the most reliable, secure, and easy up-to-date real-world data source.
Algorcale believes that real-time data is incredibly useful and should be transmitted in a straightforward, accurate, and timely manner. It therefore aspires to be one of the blockchain sector’s major open-source oracle networks in the decentralized data processing ecosystem.
Also, Brave New Coin, Amberdata, Kaiko, and Nomics, are just some of the current partners. Meanwhile, Bankrolled, Glitter Finance, Equito Finance, Upside Finance, Prismatic, Webblen Network, Mercury Labs, AlgoGuard, and others are the major clients. In terms of biggest achievements, the seed round was successfully closed, and a vital partnership with Amberdata was also established. The mainnet launch, as well as the launch of the GORA token, along with providing VRF and computation capabilities are among the main points of focus for the next 12 months.
Visit the official website and Twitter and Discord channels for more information and regular updates.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not 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 the press release.
Bitcoin.com Media
Bitcoin.com is the premier source for everything crypto-related.
Contact ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Meta wants 50% of NFT sales, Coke’s Metaverse flavor… and more
[ad_1]
Meta has announced plans to charge 47.5% on each item sold on its new Meta Quest app store, including nonfungible tokens (NFT) when they are available.
The Meta Quest app store sells apps and games on the Horizon Worlds platform which Meta, formerly Facebook, is using to build its part of the Metaverse. CNBC reported on April 13 that the store is also expected to sell NFTs. The fee is broken down as a hardware platform fee of 30% per transaction plus a 17.5% usage fee on Horizon Worlds.
Potential customers aren’t pleased with what is seen as an outrageously high cut. Popular NFT collector Pranksy — who has nearly 400,000 Twitter followers — called it “the greatest example of being completely and utterly out of touch with something that I have ever witnessed.”
The ‘pretty competitive’ 47.5% sales fee for @Meta‘s planned #NFT platform is perhaps the greatest example of being completely and utterly out of touch with something that I have ever witnessed. #ZuckBux#Hopeless – article via @BusinessInsiderhttps://t.co/RpqwE4EJ0E
By comparison, the most popular NFT marketplace OpenSea takes a flat 2.5% fee while its close competitor LooksRare charges just 2% per transaction. Apple’s App Store takes a maximum 30% cut on sales.
Coca-Cola Bytes
American food giant Coca-Cola has unveiled a new product called Coca-Cola Zero Sugar Byte which was apparently born in the Metaverse and tastes like pixels.
The drink’s gimmick as a physical drink from the Metaverse includes the fact that it comes with an Island Code that unlocks special maps and four mini games on the popular Fortnite video game by Epic Games. Epic recently scored a $2 billion investment from Sony and LEGO to build its own part of the Metaverse, although whether Fortnite is actually a metaverse right now is debatable.
The product line will launch on May 2 and will only be available in the United States, Latin America, and China.
Airline asset tokenization platform TravelX and Spanish airline Air Europa have partnered up to allow the airline to issue tickets in NFT form as NFTickets.
The specially-designed series of tickets grant owners a business class flight to Miami Beach on Nov. 29, 2022. There will be a total of 10 NFTickets auctioned off every 14 days on the Travel Exchange auction platform, with the NFT collection issued on the Algorand blockchain network.
The Eiffel Tower in Paris will host the event for the final bid of the first NFTicket to be released and sold during Paris Blockchain Week on April 14.
NBA may be going virtual
The National Basketball Association (NBA) has filed a patent application for a laundry list of items it wishes to make into “virtual consumer merchandise.” Among the 37 items that could become NFTs are game tickets, collectibles, and player autographs.
The wide array of virtual items is paving the way for the league to enter the Metaverse as it appears applications for everything but the playing surface have been submitted.
NBA players are already immortalized in NFT form on NBA Top Shot by Dapper Labs.
Other Nifty News
Japanese gaming mainstay Sega wants to include cloud technology and NFTs into its Super Game project designed to connect different games together. While NFT collectors may applaud the decision, some in the gaming community disagree with the move.
NFT startup Genie has locked in $150 million in Series C funding with a $1 billion valuation. This makes the NFT avatar creator and new Metaverse entrant a certified tech unicorn.
