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Trump Tweet boosts Bitcoin value:
Made an achieving moment says Coinbase CEO
On July 12th Trump tweets that he is not a fan of Bitcoin, this tweet suddenly changed the phase of the Bitcoin; before this tweet Bitcoin price is just under the bar according to the coin360 but after this tweet Bitcoin price in the US market has grown rapidly.
In the hours after the United State president delivered his lacklustre appraisal of crypto, the Bitcoin price stayed stable, only to then begin growing to hit by 1% on Friday.
Negative or not, for proponents, the event marked a psychological milestone for Bitcoin, as Trump had previously held off from mentioning it in public.
The fact that he felt the need to bash Bitcoin publicly feeds the narrative that it is both independent of global powers and unable to be crushed by them, Coinbase CEO says “Achievement unlocked! I dreamt about a sitting U.S. president needs to respond to growing cryptocurrency usage years ago. ‘First, they ignore you, then they laugh at you, then they fight you, then you win.’ We just made it step 3 y'all,” he tweeted.
Armstrong exemplified the buoyant mood among Bitcoiners. Others likewise thanked Trump for the free publicity, noting a surge in interest documented by Google Trends, while the president is wrong in his opinion also became a talking point on social media.
Trump is bullish for Bitcoin generally because his media tactics wobble geopolitical uncertainty. Thanks for all the dollars flowing into Bitcoin.
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Crypto Enters into Sports:
Miami Dolphin Rugby team Official partners with Litecoin CryptoCurrency
On 11th July 2019 American professional football (Rugby) team had made an announcement regarding crypto, Miami Dolphins team made Litecoin as Team's official CryptoCurrency.
Miami Dolphins team and Litecoin also made revolutionized move that is they signed a partnership with Aliant Payments, a Crypto merchant services, and payment processing firm, to enable crypto payments for the team's upcoming 50/50 raffle, and also reported that it will donate half of its revenue to charity.
Outcomes of this move:
CryptoCurrency will be advertised and promoted in different games can bring a lot of awareness in the people who are still having doubt on the cryptocurrency.
Cryptocurrency users will be able to buy raffle tickets with LTC and Bitcoin (BTC).
Crypto users can make quick ticket buying ease with the process involved in it.
As per the Market, cap Bitcoin holds the number one position with MC of over $201 billion in the crypto world and Litecoin holds the 4th a position with MC of over $6.37 billion this particular move there is a chance of an increase in investments on Litecoin as well as other cryptocurrencies
Fans of Dolphins team who are not a regular crypto user or not using crypto there are chances of using crypto as their team endorse the Litecoin in advertising boards during the game.
With this move, if Dolphins get profits this might influence other teams and also other sports as well.
How will this make an Impression on Indian Crypto?
India is a sport-loving country, Indian people trying to adopt all sorts of sports along with their favorite sport cricket. American Basket Ball league NBA has a huge following in India
Similarly people in India fond of more interesting games, Rugby also making some impact on The India; Notably, there were few movies on rugby game and also we can expect a few more to come so that people will start liking it and they will check all the details in that crypto users also helping others through blogs that crypto steps in all sort of industries along with sports.
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No footnote on crypto amendments in Budget 2K19
Experts are thinking that it is not bad news because it is clearly seen that there are no minutes of a meeting on the crypto policies in the entire speech of Finance Minister Mrs. Nirmala sitaraman, After G20 summit and the outcomes from that made India play a neutral role and they have taken time to decide on the crypto regulations.
The much-debated cryptocurrencies did not find any mention in finance Minister Nirmala Sitharaman's maiden budget speech, as anticipated by various stakeholders in the industry. Experts tracking the space said it is not bad news for the industry since it could mean the government is taking time to understand the importance of this currency, and may not rush into taking a decision anytime soon.
“I'm happy that there was no hasty crypto-related announcement. Since our FM and PM were involved in the recent G20 meetings where the FATF crypto standards were shared with all the participating nations, I'm sure India is on its way to bring about a positive change in crypto regulations,” said Nischal Shetty, founder of crypto exchange WazirX.
Not only developed countries recently 2 days ago Venezuela president passed Government order to all the banks that banks should accept the cryptocurrencies as alternate for fiat currency, but also FATF will soon make necessary regulation and will make crypto as an alternative for many of the countries. This can bring positive changes and also a reinforcement of the law on the regulations of crypto trading and exchanges in India.
So all in all 2K19 budget says no footnote on the crypto, this silence can bring resilience change in the future of the crypto.
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RBI Marches toward Adopting BlockChain Technology
Reserve bank of India planning to make through blockchain platform for the banking system by the year 2020. Earlier RBI has made regulations over a crypto exchanging and trading, but now the scenario is slowly changing it started moving towards the blockchain industry.
What might be the reasons for this move?
· The recently held v20 summit is bringing some tremendous changes in the blockchain tech and crypto regulations, where most of the developed countries are planning to adopt blockchain tech in every industry majorly in the banking industry this can solve many financial risks and tradings can be easily supervised and also issues can be easily resolved.
· Facebook, Amazon, etc.. tech giants are also showing interest in blockchain technology.
· Facebook releasing its own crypto coins by 2020 and it is collaborating with Bank of UK.
Where will this lead to?
Earlier RBI is not at all interested in Blockchain Technology and also in the Cryptocurrency, but now this situation has changed now RBI has made a step to adopt blockchain.
With v20 summit and facebook might make RBI rethink about the Cryptocurrency trading and exchanging
There is no reason for RBI to make a ban on the crypto trading as they are fearful of a decentralizing system. And also they know that the tech support for the issue relevance is not up to the mark. Where countries like Japan are making their mark by introducing regulations for cryptocurrencies and encouraging people for crypto trading and exchanging.
The pressure will be on once many of the countries and supreme powers in UNO starts towards cryptocurrency and supporting trading and exchange. Recently India bags membership in the UN security council.
In the near future, RBI will follow other nations and it will start making regulations on crypto trading and exchange once it adopted the blockchain tech in the banking sector.
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G20 Summit + V20 Summit =Unfolding Crypto
G20 summit is going to happen in Osaka, Japan on June 28th & 29th 2019 where top global economic power countries will gather around. Japan legislators and also World’s largest virtual asset service providers (VASP) to discuss implications and explore possible technical solutions to achieve the desired outcomes of a new set of recommendations proposed by the Financial Action Task Force (FATF).
Japan, the host nation for this year’s G20 Summit, granted its cryptocurrency industry the authority to self-regulate in October 2018. It is the only country in the world to achieve this legislative status.
V20 Summit “aims to unite members of the industry so that Virtual Asset Service Providers can discuss the appropriate adoption of suitable regulatory guidelines and technology solutions without creating roadblocks to innovation.”
Countries participating in the V20 Summit are
Major countries who are having regulations on cryptocurrencies are the key participants in this summit.
China, South Korea, United Kingdom, Singapore, Australia
Main Issues going to be discussed in V20 Summit is
· The VASP industry has recognized the importance of clear regulation in order to reduce financial crimes and mitigating corruption.
· While regulators agree on the need for control of cryptocurrency, too much regulation can make back a step or backfire in the minds of regulators.
· The main rule that they want to discuss is having control over the platforms which involves the crypto exchanges and trading.
Why the World is Peeping at this V20 Summit?
Recent trends are slowing showing interest in the cryptocurrency and also facebook CEO Mark Zukerberg announces that in 2020 facebook will come up with their own crypto coins called “Libra” and wallet “Calibra”. Russia also made its decision to have regulations over cryptocurrencies and trading and exchanges are made legal with regulations in Russia.
Role of India?
India is still opposing the crypto exchanges and trading by harsh regulations against it. But how long can India withhold its stand because major global and developed countries are having regulations for trading and V20 summit added attraction that future is all about cryptocurrencies?
In near future, India might face problems in importing and exporting goods from other countries because if other countries are making trading value in terms of cryptocurrencies then it might be a problem for the India if it hasn't changed up with the regulation over cryptocurrencies trading and exchanging.
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From Ban to Creating Own Crypto Coin “Libra”
Facebook made a press release in January 2018 by banning all ads related to bitcoin, specifically targeting the cryptocurrency. But with in less than a year they uplifted the ban
Mark Zukerberg started admiring the blockchain technology and value of virtual currencies and also he got advice from Bank Of England and US treasury stating that to go for virtual currencies in a social media for payments. Later Mark starting realizing that if the payments are processed quickly by using blockchain technology then the traffic will increase. Just imagining that if Facebook kind of giant introduces cryptocurrencies which are having more than 2.4 billion users then the global economy will also start regulating the crypto and blockchain technology
Mark Zukerberg as Investor?
We all know that Zuckerberg is a successful investor who is having a vision. The takeover of whatsapp by facebook is the best example. Mark Zuckerberg is also an angel investor who invests in potential startups, recently it started investing globally in India they have an investment in Meesho.
Just think about the current scenario a successful investor making footsteps towards cryptocurrency which means globally change will start soon.
What are the main reasons behind this transformation?
As we have seen initially there is a ban on the crypto from facebook but now facebook is trying to have its own cryptocurrency and wallets, so what might be the main reasons behind transformation.
· Decentralizing and restoring the power in the hands of the common man.
· Conversion of facebook from a social media platform to market place as well.
· Quick access to wallets and payments which can drag the attention of new users.
· Changing with advanced technology like blockchain.
· Competitive advantage and to become globally high ranked.
· Eradication of fraudulent activities like terrorism etc from facebook
Curtain raiser of Facebook own Crypto Tokens
South American online marketplace Mercado Libre is working with Facebook on the social network’s Libra cryptocurrency project.
The executive stated that it was likely the company would operate as a node in Facebook’s footsteps forthcoming blockchain network.
Facebook’s journey started with the users and chat platform also with business promotions and market place added to its rage. Eventually, Mark Zuckerberg is trying to bring some revolutionary ideas and bringing all together at users feet. Now he is behind introducing wallets.
This can be revealed on the 18th June 2019 as a social media giant, they mentioned cryptocurrency as Libra, Mercado Libre is one of the most popular e-commerce platforms in South America with operations in 19 countries is going to be a partner with Facebook. For this to make successful and useful for every user of Facebook, Mark Zuckerberg met the governor of the Bank of England
According to a recent report, Facebook’s Libra platform will be unveiled later this week. It is found on everywhere that social media platform has reportedly gathered support from dozens of firms including Visa, Mastercard, PayPal, and Uber.
Another indication that the Facebook currency will be different from its predecessors is the fact that it will be pegged to several government-issued currencies, in a bid to avoid the vast value fluctuations that have dogged other digital currencies.
That inconsistency in valuation is best illustrated by the price of Bitcoin, which was initially sold for a few cents before it reached a record high of just under $20,000 per coin in December 2017. Each one now sells for just over $8,300.
This Project might cost nearly $1Billion in a year. With this sheer dominance, facebook can make easily its 2.4 billion users to test with the crypto wallets in facebook kind of social apps. This can change the phase of the global economy
A phase of the Global economy
Many of the developed countries started accepting cryptocurrencies for merchant purpose and also they made regulations according to the nature of cryptocurrencies
India is still playing a neutral part in crypto trading and exchange but in the future, this global economy will force to make a change in regulations of the crypto trading and exchange in India.
This article is taken reference from independent.co.uk and cointelegraph.
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From Ban to Creating Own Crypto Coin “Libra”
Facebook made a press release in January 2018 by banning all ads related to bitcoin, specifically targeting the cryptocurrency. But with in less than a year they uplifted the ban
Mark Zukerberg started admiring the blockchain technology and value of virtual currencies and also he got advice from Bank Of England and US treasury stating that to go for virtual currencies in a social media for payments. Later Mark starting realizing that if the payments are processed quickly by using blockchain technology then the traffic will increase. Just imagining that if Facebook kind of giant introduces cryptocurrencies which are having more than 2.4 billion users then the global economy will also start regulating the crypto and blockchain technology
Mark Zukerberg as Investor?
We all know that Zuckerberg is a successful investor who is having a vision. The takeover of whatsapp by facebook is the best example. Mark Zuckerberg is also an angel investor who invests in potential startups, recently it started investing globally in India they have an investment in Meesho.
Just think about the current scenario a successful investor making footsteps towards cryptocurrency which means globally change will start soon.
What are the main reasons behind this transformation?
As we have seen initially there is a ban on the crypto from facebook but now facebook is trying to have its own cryptocurrency and wallets, so what might be the main reasons behind transformation.
· Decentralizing and restoring the power in the hands of the common man.
· Conversion of facebook from a social media platform to market place as well.
· Quick access to wallets and payments which can drag the attention of new users.
· Changing with advanced technology like blockchain.
· Competitive advantage and to become globally high ranked.
· Eradication of fraudulent activities like terrorism etc from facebook
Curtain raiser of Facebook own Crypto Tokens
South American online marketplace Mercado Libre is working with Facebook on the social network’s Libra cryptocurrency project.
The executive stated that it was likely the company would operate as a node in Facebook’s footsteps forthcoming blockchain network.
Facebook’s journey started with the users and chat platform also with business promotions and market place added to its rage. Eventually, Mark Zuckerberg is trying to bring some revolutionary ideas and bringing all together at users feet. Now he is behind introducing wallets.
This can be revealed on the 18th June 2019 as a social media giant, they mentioned cryptocurrency as Libra, Mercado Libre is one of the most popular e-commerce platforms in South America with operations in 19 countries is going to be a partner with Facebook. For this to make successful and useful for every user of Facebook, Mark Zuckerberg met the governor of the Bank of England
According to a recent report, Facebook’s Libra platform will be unveiled later this week. It is found on everywhere that social media platform has reportedly gathered support from dozens of firms including Visa, Mastercard, PayPal, and Uber.
Another indication that the Facebook currency will be different from its predecessors is the fact that it will be pegged to several government-issued currencies, in a bid to avoid the vast value fluctuations that have dogged other digital currencies.
That inconsistency in valuation is best illustrated by the price of Bitcoin, which was initially sold for a few cents before it reached a record high of just under $20,000 per coin in December 2017. Each one now sells for just over $8,300.
This Project might cost nearly $1Billion in a year. With this sheer dominance, facebook can make easily its 2.4 billion users to test with the crypto wallets in facebook kind of social apps. This can change the phase of the global economy
A phase of the Global economy
Many of the developed countries started accepting cryptocurrencies for merchant purpose and also they made regulations according to the nature of cryptocurrencies
India is still playing a neutral part in crypto trading and exchange but in the future, this global economy will force to make a change in regulations of the crypto trading and exchange in India.
This article is taken reference from independent.co.uk and cointelegraph.
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Globalization of the crypto currencies: Why it is so necessary nowadays?
Some factors make the crypto currencies essential for the globalized world we live in:
Some factors make the crypto currencies essential for the globalized world we live in:
· Its reduced cost for shipments sent abroad
The system, in which the financial transition with crypto currencies occurs, enables remittances between countries to have reduced rates. Those are lower than the amounts normally charged in transactions involving the traditional currency. Following this path, as the years go by, more people tend to opt for this method of payment, thus making financial operations involving crypto coins, even more interesting.
· Reduction of extra costs with currency conversion
With the use of crypto coins when paying for purchases made at international, physical and online stores, there is no need for extra charges related to currency conversion, which makes this process even more advantageous for consumers who opt to use digital coins in their financial transactions.
· Easy international business transactions
Another factor that highlights the importance of the crypto currency today is the ease it provides in international business transactions. This happens because digital coins can overcome any border obstacle much faster and more easily than the traditional currency.
· Facilitated negotiations
The investments that involve the traditional currency; depend on the opening of an account in a bank or in any other financial intermediary, doesn’t it?! But with crypto coins, this process is easier, just by negotiating online, where the negotiator sends his documents to a exchange, and in a few days, your account will be available to receive or send digital coins, anytime, anywhere.
· Transactions carried out independently
As referred before transactions that involve crypto currencies occur in a decentralized way. In that way, they are not dependent from any banking institution or government. Transactions are much more independent when compared to operations with traditional currencies.
As you can see, there are several factors that justify the importance of crypto currencies in today’s globalized world. With its potential to generate more profitability to its investors, it is clear to understand why more people are adhering to the use of digital coins in their financial transactions. And you want to exchange your crypto currency; you can do it with Trade by Trade!
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Coin Exchange Vs Coin Trading
What Is Coin Exchange?
A crypto currency exchange is a platform that gives users an opportunity to diversify their portfolio and exchange one crypto currency for another based on current market prices. Crypto currency exchanges and stock exchanges are similar in that current prices are determined by market demand and supply.
For example, if an investor wants to purchase ether (ETH), they can either choose to do so with bit coin (BTC) or with fiat. Assuming now that bit coin’s price (in INR) grows by 5% in comparison to the price of ETH (also in INR), trading BTC for ETH results in 5% more ether than if the trade had been completed using INR.
In simple way if
1 BTC = 5 ETH
If user converts 1BTC to 5ETH predicting that the value of the ETH many increase in near future then the value of price user is having is 5times more than BTC
What Is Coin Trading?
Coin trading is a peer-to-peer platform, where traders use fiat currency (Dollar, Euro, Rupee, Pound…etc) to buy or sell crypto currencies
Traders who want to sell cryptocurrency can post trade advertisements specifying the coin they’re selling, together with: the price they’re willing to sell at, the minimum and maximum trade amounts and preferred payment methods. Buyers—with fiat—connect with sellers that have the amount of cryptocurrency that they need, at a price they’re willing to pay.
Once both parties agree to a deal, the crypto funds are secured using an online trade. As soon as the seller confirms that they have received the agreed upon amount in fiat, the cryptocurrency is released to the buyer and the trade is complete. Traders looking to buy cryptocurrency can also post trade advertisements specifying the type of cryptocurrency they want to receive and the price they’re selling at.
For services provider, the charges a fee of varies for every completed transaction. Only users who post a buy or sell advertisement and complete a trade are charged. There is no charge to buy or sell, otherwise.
Let’s Talk about Vantages?
Considering coin exchange many of the existing traders who already have the coins are more concentrated in the market value of the coins as the market value of the coins varies from time to time.
No KYC required for exchange where as trading KYC is mandatory.
Coming to fee: Exchange fee < Trading fee.
In trading platform only trading will be done, where as in exchange coins can be exchanged and also for new traders can purchase coins.
Coming to limit: Exchange of Coin limit > Limit for Trading.
Level of Risk: Compare to trading in coin exchange the risk factor is less as there is no other party involved in exchange, where as in trading according to the deal if once payment is received coins will be released.
Risk Factor of Exchange is less than trading.
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