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coinnewz · 1 year

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How low can the Bitcoin price go?

The price of Bitcoin (BTC) has fallen to one-month lows, and traders are increasingly betting on more downside to come. Bitcoin price slides to one-month lows BTC price performance has weakened in recent days, with BTC/USD hitting $28,850 on July 24, data from Cointelegraph Markets Pro and Trading View confirms. Despite a brief rebound, market participants remain unconvinced that the largest cryptocurrency has seen the worst of its losses. Cointelegraph looks at current prognoses for crypto and risk assets during a major macroeconomic week. BTC/USD 1-day chart. Source: TradingView $28,500 for a last leg down? For popular trader Crypto Ed, the prior dip to Bitcoin’s lowest since June 21 was entirely expected. Now, he believes that a final break into buy liquidity should occur, taking BTC/USD to around $28,500. A relief bounce to $29,400 could come first. “If we do get a move like this, then I’m looking for a setup for more downside and possibly $28,500 - 400, more or less,” he said in his latest YouTube update. Crypto Ed showed an additional target box covering prices as low as $27,800, but acknowledged that he was unconvinced that Bitcoin would make it there. Low $27,000s to “stop out” bidders For fellow trader Crypto Chase, the downside could take Bitcoin toward $27,000 before last-minute long entries get suitably burned. Speculators should end up bidding at major price points as BTC/USD moves down — at $29,200, $28,500 and $28,000, he predicted earlier in July. Gonna be one of those situations where people bid all the way down.. 29.2, 28.5, 28, and once finally stopped in the 27’s, they all turn bearish. Run it back to the (hopefully) untapped 32.4K. — Crypto Chase (@Crypto_Chase) July 16, 2023 In an update on July 24, he maintained that this was the likely course of events. “These are still mostly my thoughts. I can’t short now as strong R/R opportunities are behind us, decent entries were not offered based on my strategies,” he acknowledged to Twitter followers. “With that said, feed already turning giga bear, still plan to bid low 27's for a strong bounce and see where it takes us.” BTC/USD annotated chart. Source: Crypto Chase/Twitter An accompanying chart showed relevant Fibonacci retracement levels for the daily chart. Moving averages still to see retest Ahead of a series of crunch United States macro events, various traders are keeping out of Bitcoin until a more apparent trend emerges. Related: Biggest mining difficulty drop of 2023? 5 things to know in Bitcoin this week Nonetheless, various moving averages persist as important lines in the sand, among them the 200-week and 21-week at $27,130 and $28,200, respectively. “Bitcoin is testing support in a key zone of historical significance,” Keith Alan, co-founder of monitoring resource Material Indicators, summarized on July 24. “Not convinced we’ve found strong support yet, but the 21-Week MA looks like it could provide a stronger foundation. Need to let things develop a bit for some clarity.” BTC/USD 1-week chart with 21, 200 MAs. Source: TradingView As Cointelegraph reported, some worst-case scenarios include far deeper drawdowns, with even the loss of $20,000 not entirely off the table. Magazine: Should you ‘orange pill’ children? The case for Bitcoin kids books The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. Source link Read the full article

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pmcoininformer · 1 year

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Pm Group 365

Trade Like a Pro: How to Choose the Best Trading Platform for Your Needs

Trading in the financial markets has become increasingly accessible to individuals, thanks to the rise of online trading platforms.

Whether you are a beginner or an experienced trader, selecting the right trading platform is crucial for your success.

In this article, we will guide you through the process of choosing the best trading platform that suits your needs and helps you trade like a pro.

So, let's dive in!

1. Determine Your Trading Goals and Style

Before selecting a trading platform, it's crucial to clarify your trading goals and style. Are you interested in long-term investments or short-term trading? Do you prefer a specific market, such as stocks, forex, or cryptocurrencies?

Understanding your objectives and preferred trading style will help you narrow down the platforms catering to your needs.

2. Research and Compare Trading Platforms

Once you have identified your trading goals, it's time to research and compare different trading platforms. Consider factors such as user interface, available markets, instruments, trading tools, charting capabilities, and order execution speed.

Read reviews, check online forums, and seek recommendations from experienced traders to gather insights about the platforms you are considering.

3. Security and Regulation

When choosing a trading platform, security should be your utmost priority. Look for platforms with robust security measures, such as two-factor authentication, encryption, and cold storage for funds.

Additionally, consider the platform's track record and reputation in the trading community.

Read reviews and do thorough research to ensure the platform has a reliable history of protecting user assets.

4. Ease of Use and User Experience

Trading platforms should be user-friendly and intuitive, especially for beginners. Consider platforms that offer a clean and organized interface with easily accessible features and tools.

Several trading platforms also offer AI tools to automate your trading, so make sure to look at them too.

5. Available Markets and Instruments

Different trading platforms offer varying markets and financial instruments. Ensure that your chosen platform provides access to the markets and instruments you are interested in trading.

Whether its stocks, options, futures, forex, or cryptocurrencies, diverse options allow you to diversify your portfolio and seize different trading opportunities.

6. Trading Fees and Commissions

Trading fees and commissions can significantly impact your profitability. Compare the fee structures of different platforms to find the one that aligns with your trading frequency and investment size.

However, be cautious of platforms offering extremely low fees but compromising other crucial aspects such as execution quality or customer support.

7. Customer Support and Education

Reliable customer support is essential when trading online. Ensure that the platform offers channels of customer support, email, or phone, and check their availability during your preferred trading hours.

Additionally, consider platforms that provide educational resources, webinars, or articles to help you improve your trading skills and knowledge.

Conclusion:

Selecting the best trading platform is critical to a successful crypto trading journey. By considering the factors mentioned above, you can make an informed decision.

If you are looking for a trading platform that checks all these boxes, look no further than PM Group 365.

With its commitment to security and regulation, user-friendly interface, a diverse range of markets and instruments, competitive trading fees, reliable customer support, and educational resources, out trading platform stands out as an excellent choice for crypto traders.

So why not start your crypto trading journey with PM Group 365 and unlock your full trading potential today?

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bitcofun · 2 years

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A brand-new week in the cryptocurrency market has brought more of the exactsame sideways cost action that the broader environment has knowledgeable in current months, as Bitcoin (BTC) continues to hold assistance near $41,000 while some experts alert that high inflation and increasing interest rates might see the leading cryptocurrency fall to $30,000. On the altcoin front, Ether (ETH) appears to be revealing some indications of life as keptinmind by cryptocurrency expert Willy Woo, who justrecently tweeted that “Ether [is] setting up to break upwards out of a really long term, 3.5-month bearish pattern line.”Data from Cointelegraph Markets Pro and TradingView reveals that the ETH cost is now trading above assistance at $2,900, with bulls looking to make another run at breaking the $3,000 resistance after being strongly turneddown at that level over the past coupleof days. ETH/USDT 1-day chart. Source: TradingViewHere’s what anumberof experts are stating about ETH's near-term outlook and what levels to keep an eye on needsto the rate break to the benefit or experience a slide lower. ETH requires to break above resistance at $3,000The coiling nature of the existing Ether rate action was highlighted by crypto trader and pseudonymous Twitter user "Rager," who posted the following chart and keptinmind that “Ether continues to gradually compress with lower-highs.” ETH/USD 4-hour chart. Source: Twitter“Currently viewing to see if rate can push back up $3000, would like to see that as the veryfirst level to stay above,” Rager tweeted.A comparable outlook was revealed by crypto trader and pseudonymous Twitter user "Cactus," who posted the following chart keepinginmind the value of a cost breakout above the “key trendline” at $2,860 and supplied one possible cost trajectory moving forward. ETH/USD 8-hour chart. Source: TwitterCactus stated: “Price is looking healthy, great pullback into this 0.618 fib level and LTF purchasers purchasing into this assistance. Could variety here for a little while. All eyes on breaking this secret resistance at $3000.”Lower assistance at $2,800Further insight into the cost action at these levels was used by market expert and Cointelegraph factor MIichaël van de Poppe, who posted the following chart specifying: “good bounce on Ethereum here, which makes it mostlikely that we're going to take the highs around $3,000.”ETH/USD 2-hour chart. Source: TwitterThis pronouncement was followed by a word of care from van de Poppe, who keptinmind that “the concern will be how strong we're going to relocation from there.” “Immediate rejection and we're at the highs of this relief rally,” van de Poppe stated.Should this certainly mark the leading of this relief rally, van de Poppe recognized $2,800 as the next essential assistance level for Ether. Related: Bitcoin ‘could quickly see $30K’ with stocks due to 30% drawdown in 2022 — AnalystEther gains strength versus BTCA last bit of insight into how Ether is holding up versus Bitcoin was supplied by trader and pseudonymous Twitter user "Cantering Clark," who posted the following chart proving a increase in the ETH/BTC set and highlighted the impact of the upcoming combine inbetween the Ethereum mainnet and the Beacon Chain proof-of-stake system. ETH/BTC 1-day chart. Source: TwitterCantering Clark stated: “All indications point to strength for ETHBTC. The narrative is structure, which is the most essential information. No specific date for the combine is more bullish than an specific date.”The total cryptocurrency market cap now stands at $1.867 trillion and Bitcoin’s supremacy rate is 41.7%.The views and viewpoints revealed here are exclusively those of the author and do not always show the views of Cointelegraph.com. Every financialinvestment and trading relocation includes danger, you oughtto conduct your own researchstudy when making a choice. Read More.

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digitalwealthblog · 3 years

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Full PrimeXBT review This cryptocurrency exchange is a good fit for: Experienced users looking for advanced features and opportunities designed to increase profitability. New users will enjoy the ability to copy the trades of experienced traders. All users will benefit from being able to trade different kinds of assets including cryptos and major stock indices.

Pros Trade cryptos, foreign currencies, major stock indices, and commodities Referral system Novel covesting feature Turbo trade Robust technical analysis tools and charting Cons Few crypto trading pairs Not available in 14 countries including the U.S., Canada, and Japan No lending or staking services Limited direct crypto transfers Top perks Robust multi-level, referral program The PrimeXBT referral model has a four-tier payout system. You receive rewards not only for direct referrals you bring to PrimeXBT but for their referrals as well. It's like a multi-level marketing plan. This setup can multiply the passive income you receive from the trading fees paid by the referral network you build. You have to use your custom referral link to invite people. To receive max rewards, encourage your referrals to invite more folks.

PrimeXBT offers leveraged trading up to 100x PrimeXBT offers leveraged trading up to 100 times the amount you contribute. Leverage trading (also known as margin trading) is a method involving borrowed funds from the exchange. The reason to trade via leverage is to increase profit potential.

How PrimeXBT works PrimeXBT does not have a wallet separate from the main exchange. It has five separate embedded wallets within the exchange. Each wallet is designated for a specific cryptocurrency:

BTC ETH USDT USDC COV These are the only cryptocurrencies that can be transferred to the platform for trading. There are two ways to do that:

Direct crypto deposits from your personal crypto wallets to your PrimeXBT account Deposits through third-party services, such as Paxful, Coinify, Xanpool, CEX.io, which allow you to buy crypto using a bank card

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cryptobiteio · 3 years

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Tips to Invest in Cryptocurrency Safely: A Guide

The global economy is inevitably leading towards a digital ecosystem. From investment to money transfer, everything is going paperless. The newest and most likely addition to the digital payment sector is cryptocurrency.

A cryptocurrency is a means of exchange like normal currencies such as USD but designed to exchange digital information. There are several different types of cryptocurrencies, and more are produced every day.

Cryptocurrency investing is coming of age, and various trends are rising and showing indications of being the next great thing in the crypto world. In the ever-evolving blockchain world, the technology behind cryptocurrency Non-Fungible Token (NFT) is quickly gaining shape as a passive investment method. NFTs have become so common that respected corporations, investors, and celebrities are launching or talking about launching their NFTs.

In recent times, social media is even more centralized than the financial industry was before the creation of Bitcoin. DeSo, short for "decentralized social," the first and only blockchain custom-built from the ground up to power and scale a new category of decentralized social applications to one billion users. It’s no secret that social media is changing how we think about privacy and ownership of the content on the web. In a time where social media is more centralized, cryptocurrency and its value on decentralization have only accelerated the conversation around privacy, censorship, data protection, and creator monetization. The RadPanda NFTs are also available on the DeSo blockchain.

Before you spend one dollar, learn about cryptocurrency exchanges. These platforms provide the means to purchase and sell digital currencies, but there are 500 exchanges to choose from. Do your research, stay updated with cryptocurrency news, read reviews, and discuss with more experienced investors before moving ahead.

Tips To Invest In Cryptocurrency

Start Small

Like the stock market, the crypto market is highly volatile, which means prices will rise and fall unpredictably. Once you’re clear on this, start investing in stocks to understand your potential to deal with risks. It is only wise to invest in cryptocurrency after ensuring you have enough liquid funds for at least six months without any debts. Once you know, you can manage the ups and downs, set aside a small part of your money to invest in cryptocurrency. If feasible, limit your investment to 5-10% of your income.

Select your Cryptocurrency

Right, there is more than one cryptocurrency in the market right now with different price details. But it is advisable not to jump board and invest in 5 other small cryptocurrencies. A lot of homework is needed to choose the right crypto coin. Be aware of what is happening in the market, list the five best performing cryptocurrencies, and observe their growth chart.

Choose the Right Cryptocurrency Exchange

It’s a place where you can buy, sell or keep your crypto assets. Analytics Insight has a complete list of the best cryptocurrency exchanges with information about transaction fees, pros, and cons. Like how banks and other financial companies are designed to store money, loan money, and provide mortgages, these crypto exchanges are particularly designed to manage cryptocurrencies and their volatile nature.

Choose a Cryptocurrency Wallet

What is a cryptocurrency wallet? It’s software stores the private and public key that combines a link between you and the blockchain where your crypto assets are. A wallet also needs to be funded with the crypto needed to buy a targeted NFT. For instance, an NFT built on the Ethereum blockchain technology might need its purchase in Ether tokens. There are various marketplaces that support NFT purchases.

If you follow the steps mentioned above, you are ready to invest in cryptocurrency. No matter what cryptocurrency you invest in, prepare yourself for some instability, and analyze the value regularly.

#Non-Fungible Token #DeSo

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finance-expert · 3 years

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State of Crypto: The SEC Takes on DeFi

The SEC is reportedly investigating decentralized finance (DeFi) platforms and the parties behind them. While not unexpected, this is a new phase in the crypto-regulatory landscape. We may be able to predict how these investigations will proceed by looking at prominent historical examples.

You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.

DeFi investigation

The narrative

News broke Friday that the Securities and Exchange Commission (SEC) is conducting a probe into Uniswap Labs and other DeFi platforms. It’s unclear whether these investigations are still primarily for information-gathering purposes or whether there will be enforcement actions coming. Regardless, this is a pivotal, if expected, development in the regulator’s oversight of the crypto market.

Why it matters

How the SEC approaches DeFi might determine how well DeFi platforms survive in the coming years, particularly as the agency’s investigations mature. There are few details about the SEC’s investigations that are publicly available at this time, but we can look to the past to guesstimate how these investigations may proceed.

Breaking it down

The SEC has signaled for a few weeks now that it’s going to be taking a look at DeFi. I’ve written about this at least twice now, so news stories that the agency is actively looking into this segment of the crypto market are absolutely not a surprise.

To sum up what we do know: The SEC is reportedly investigating Uniswap Labs, the developer behind Uniswap, the leading decentralized exchange (DEX) on Ethereum. What’s a DEX, you may ask? Consider it a robot on the internet routing trades through various pools of funds, no middleman (beyond the software) needed. Other (unnamed) DeFi platforms may also be in the SEC’s crosshairs.

While we don’t yet know what the regulator is specifically looking for, we can find some clues in recent history that point to how the agency might approach DeFi and enforcement actions.

DeFi tea leaves

SEC Chair Gary Gensler has helpfully explained his views in detail a few times now. Most recently, he told the European Parliament that a lack of regulated brokers and clear-cut investor protection rules leaves “the investing public … vulnerable,” particularly to scams or other forms of abuse.

In the past he has also pointed to “promoters and sponsors” who write the software behind DeFi platforms and create their governance mechanisms. The theme that’s emerging so far is a focus on the centralized players that might help create or power DeFi projects (or even engage in what my colleague David Morris calls “decentralization theater”).

The SEC therefore doesn’t appear to be looking at the decentralized parts of DeFi, even if the projects themselves are adequately decentralized after launch. If a project isn’t fully decentralized in its earliest development stage, its backers may soon receive an inquiry.

This would explain why the SEC is investigating Uniswap Labs at any rate.

In a statement emailed to CoinDesk, an external spokesperson for Uniswap Labs said, “We are committed to complying with the laws and regulations governing our industry and to providing information to regulators that will assist them with any inquiry.”

Looking further back, the SEC may also look at how a DeFi platform actually operates – whether it provides a marketplace for tokens that the SEC considers securities and uses its own orderbook.

Past cases

The agency’s precedent here would be EtherDelta, the decentralized trading platform the SEC brought charges against in 2018 on allegations it acted as a securities trading platform.

At the time, the agency pointed to EtherDelta’s smart contract, order book, order display website and marketplace as evidence it was supporting illicit securities transactions.

The SEC also specifically brought charges against Zachary Coburn, who founded the platform but left over a year before the charges were filed.

So just because a platform is decentralized doesn’t mean the SEC won’t file charges against a centralized party with a significant role in setting it up.

It is worth noting here that there may be lines drawn between decentralized finance platforms generally and decentralized exchanges specifically, but the role of centralized developers or founders is salient to both types of entities.

In short, what the SEC is likely considering includes:

Investor protection concerns;

The role of centralized parties in these decentralized platforms;

Whether the tokens are securities in the SEC’s view.

Watch this space.

Bitcoin’s litmus test

Guest essay by Andrés Engler

Finally, the speculation on the use of bitcoin in El Salvador will end, and a real analysis can begin on whether the cryptocurrency is useful or not in a country in need of financial tools for its population.

Knowing like no other the power of social networks, President Nayib Bukele was extremely adept at joining an explosive tribe in search of state legitimacy. The Salvadoran case study was a win-win for both parties.

Still, Bukele had to back down in early battles against the financial establishment. The first stumbling block was the International Monetary Fund, which quickly issued a statement naming “a number of macroeconomic, financial and legal issues” that bitcoin would generate in that country, in the midst of negotiations for a $1 billion loan for the country.

Bukele, without much leeway in the international arena, made several concessions. The most striking was to desist from applying Article 7 of the law, which stipulated that all economic agents must accept bitcoin as a form of payment when offered by the person acquiring goods or services. In August, the president said the use of bitcoin as legal tender would not be mandatory, and the resulting question was obvious. If businesses are not forced to accept it, can bitcoin be considered legal tender?

The second concession, more symbolic but no less important, was saying the measure of the economy would be in dollars, and that salaries would be paid in that currency. It is worth remembering that although El Salvado has a central bank, the country does not issue its own currency but uses the U.S. dollar.

Despite the changes, bitcoin could have concrete benefits for El Salvador. It could save them $400 million that Salvadorans abroad send as remittances to their country, boost tourism and even create a mining industry if Bukele effectively makes available volcanic energy as promised.

On a continent-wide scale, the success of bitcoin in El Salvador – demonstrated in massive adoption and savings in remittances – could mean a domino effect of adoption in Latin America and developing countries in other continents.

So far, Bukele’s strategy has led different politicians in the region – from the North in Mexico to the far South in Argentina – to present bills to regulate the sector and, in some cases, promote it. Either way, bitcoin bills have been a gold mine for officials in search of votes and fame, and an important step in putting cryptocurrencies on the discussion table.

The bitcoin experiment will not only be a litmus test for Bukele but also for bitcoin itself and the discourse that proposes this cryptocurrency as a financial solution for underbanked territories.

The adoption of bitcoin in El Salvador will mean something unprecedented: the first state educational policy on crypto assets, with different offices where locals will learn to use the official digital wallet Chivo and gain knowledge about how bitcoin works and its usages, such as remittances.

Bitcoin is political

The adoption of bitcoin in El Salvador comes at a tumultuous political moment for the country. On Friday, the country’s Supreme Court – which has a pro-government tilt – declared it constitutional for the president to be reelected after his five-year term, generating pushback from the entire political opposition.

It is not the only issue. At least three opinion polls published last week showed the majority of Salvadorans do not agree with the use of bitcoin as legal tender in the country, with an average of between 65% and 70% of El Salvador’s population against it. Such a level of rejection was crystallized in some small marches that took place with only hundreds of people and unions opposed to Bukele, which could have political interests beyond bitcoin itself.

Thus, Bukele expressed days ago his frustration against those who criticized the use of bitcoin in the country for remittances.

“If you don’t want to, you can always go to Western Union and pay a commission. No problem at all,” he wrote on his Twitter account.

El Salvador’s political spectrum is on the lookout for any Bukele misstep, and has criticized the Bitcoin Law in different ways. Both the FMLN party (left) and Arena (right) are unforgiving of a president who wears a backwards cap, has broken with the status quo, entered Congress with the military to try and force the legislature to approve more military and police funding, and won the last legislative elections with a supermajority that gave him a majority in parliament.

“Some will prefer to believe the thieving opponents who have done nothing but loot our country, destroy it and pay for them to murder our people. Others will choose to believe the government. But in the end, everyone will realize the reality on Sept. 7,” Bukele wrote last week.

Tether’s reserves

In May, I filed a Freedom of Information Law (FOIL) request with the New York Attorney General’s Office asking for the documents detailing Tether’s reserve composition breakdown. My goal was to verify that Tether submitted similar documents to the NYAG that the company published when revealing its breakdown to the public (the pie charts, as Twitter has taken to calling them).

The NYAG FOIL officer who saw the request initially denied it, tying the request to a similar FOIL request made by another individual. CoinDesk appealed, and a different FOIL officer agreed with our appeal.

Procedurally, Tether had an opportunity to push back against the second officer’s decision, which it did in the form of a petition filed last week. I imagine we’re still close to the beginning of this process, so obviously more to come on this front.

Here’s more context on how we got here, including Tether’s full statement after filing.

You can follow the court filings here.

Biden’s ruleChanging of the guard

Emory University School of Law Professor Kristin Johnson might become President Joe Biden’s next nominee to the Commodity Futures Trading Commission, Bloomberg reported last week.

Elsewhere:

El Salvador Police Releases Bitcoin Law Critic Arrested for Alleged Bank Fraud: Police in El Salvador arrested Mario Gomez, an activist who has criticized the country’s Bitcoin Law, without a warrant on allegations of possible bank fraud. Police released Gomez hours later.

‘Crypto Dad’ Giancarlo to Quit BlockFi’s Board After 4 Months: Former CFTC Chair Chris Giancarlo has stepped down from BlockFi’s board of directors, though the company says he will remain an adviser. BlockFi is in the middle of a legal fight with five different state regulators over whether its interest accounts product violates securities laws.

BitConnect’s Top US Promoter Pleads Guilty to Fraud Charge: Glenn Arcaro, a U.S.-based promoter for BitConnect, pled guilty to a fraud charge from the U.S. Department of Justice on the same day the SEC filed charges against him, his company and BitConnect itself.

Outside CoinDesk:

(The Atlantic) Australia seems to be pioneering some new grounds in lockdown enforcement. Some of these measures include apps that require quarantined individuals to verify their location within 15 minutes of receiving a notification, for example. What could go wrong?

(Human Rights Watch) El Salvador’s legislature passed new laws that would allow local officials to fire any judges or prosecutors over the age of 60 or extend the term of judges and prosecutors at the government’s discretion, actions which could threaten judicial independence, according to the Human Rights Watch.

(The New York Times) The Times published an interesting interactive graphic explainer on crypto energy use. It’s worth taking a look at this.

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coinprojects · 3 years

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New Post has been published on https://coinprojects.net/u-s-congress-submits-18-crypto-bills-in-2021-visa-buys-150k-cryptopunk-microstrategy-snaps-up-more-btc-hodlers-digest-aug-22-28/

U.S. Congress submits 18 crypto bills in 2021, Visa buys $150K CryptoPunk, MicroStrategy snaps up more BTC: Hodler’s Digest, Aug. 22-28

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

Congress has put forward 18 bills on digital assets in 2021 so far

The U.S. Congress has been ramping up its efforts to provide a regulatory framework for crypto in 2021 and has put forward 18 bills concerning digital assets and blockchain tech so far this year.

According to an Aug. 22 analysis from former Federal Deposit Insurance Corporation regulator Jason Brett, the current 117th Congress differs from its predecessor in that it has been focusing on regulation concerning decentralized assets as opposed to private stablecoins.

It was also reported this week that the contentious $1 trillion infrastructure bill will see a vote in the House of Representatives by Sept. 27 — without any amendments to the controversial crypto tax provisions.

Visa invests $150,000 in NFT CryptoPunk asset

This week Visa, Visa spent $150,000 on a tokenized JPEG of a pixel art punk, better known as a CryptoPunk NFT. The firm announced the news in an Aug. 23 blog post, with Cuy Sheffield, the head of crypto at Visa, teasing that the firm may be looking at a prolonged stay in the sector.

“To help our clients and partners participate, we need a first-hand understanding of the infrastructure requirements for a global brand to purchase, store and leverage an NFT,” he said.

Visa purchased CryptoPunk 7610 — a female figure with a mohawk, green clown makeup eyes and lipstick. Obtaining an “understanding of the infrastructure requirements” in purchasing an NFT mustn’t have taken long, as all you need to do is buy it and store it in your wallet. It’s not rocket science.

Budweiser also joined in the action by purchasing a fan art NFT for 8 Ether (ETH), worth roughly $25,000. The NFT depicted a Budweiser-branded rocket that would take five minutes to whip up on Adobe Illustrator. The beer producer also spent 30 ETH, or $94,000, on the domain name Beer.eth through Ethereum Name Service on OpenSea.

PayPal launches crypto services for UK customers

Global payments provider PayPal announced the rollout of its crypto services for customers in the United Kingdom this week.

PayPal first launched its crypto services less than a year ago, and this is the first time it has expanded crypto support beyond U.S. shores.

The firm will initially allow customers to buy, sell and hold crypto assets including Bitcoin (BTC), Ether, Litecoin (LTC) and Bitcoin Cash (BCH). However, crypto transactions for PayPal business accounts aren’t supported yet.

MicroStrategy splashes $177M on Bitcoin, now holds almost 109,000 BTC

MicroStrategy, led by Bitcoin apostle Michael Saylor, has snapped up another $177 million worth of digital gold. The latest purchase takes the firm’s tally up to 108,992 BTC, which cost a mere $2,918 billion overall.

The average purchasing price for its BTC sits at approximately $26,769 per coin. With the price of BTC sitting at $47,584 at the time of writing, MicroStrategy’s holdings are valued at $5.1 billion.

It is a foregone conclusion that Saylor is “all in” on BTC at this stage. However, it is yet to be seen if he will respond to crypto skeptic Peter Schiff’s call out for a debate. Schiff faced off against Anthony Scaramucci this week over whether gold or BTC is a better store of value. After he won, he stated in jest:

“I just gotta say one thing: Michael Saylor, stop ducking me, I know you’re out there.”

Binance denies allegations of market manipulation

Major crypto exchange Binance came out swinging this week as it pushed back against allegations of market manipulation and trading against its users.

The firm is currently facing regulatory scrutiny and, in an Aug. 23 Twitter thread, Binance seemingly laid the blame of assertions of market manipulation on publications spreading FUD, along with people impersonating Binance employees.

The firm stated that, while it works on its compliance targets with regulators, it expects “fewer FUD-peddlers and individuals with malicious intent,” and went on to warn:

“Binance reserves the right to take legal action to protect its interests and welcomes responsible whistle-blowing that protects the trust of our community.”

Winners and Losers

At the end of the week, Bitcoin is at $48,373, Ether at $3,233 and XRP at $1.14. The total market cap is at $2.08 trillion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Tezos (XTZ) at 46.33%, Avalanche (AVAX) at 33.86% and Celo (CELO) at 31.97%.

The top three altcoin losers of the week are Audius (AUDIO) at -21.08%, XinFin Network (XDC) at -13.99% and SushiSwap (SUSHI) at -12.76%.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis.

Most Memorable Quotations

“As long as the statute says that software developers, miners, stakers must do the impossible, there is no lawyer who would advise them to risk operating in violation of laws whose penalties for non-compliance would easily bankrupt them.”

Lawrence Zlatkin, Coinbase global vice president of tax

“In the last year, we’ve seen a significant shift in how the global financial ecosystem is thinking about new business models fueled by digital assets, and how this is playing a meaningful role in financial infrastructure.”

Linda Pawczuk, principal at Deloitte Consulting

“We will want to wait for all the regulatory things. Of course, crypto is an area which is extremely interesting, and is the biggest buzzword and is doing exceptionally well. But we would want to understand more on the regulation side.”

Manu Jain, managing director of Xiaomi India

“A trading platform that offers derivatives on digital assets to U.S. persons without registering, or in violation of CFTC trading rules, is subject to the CFTC’s enforcement authority.”

Dawn Stump, commissioner at the U.S. Commodity Futures Trading Commission

“When you have a good crypto wallet like Novi will be, you also have to think about how to help consumers support NFTs.”

David Marcus, head of Facebook Financial and co-creator of Diem

“Be wary of investment opportunities with low risk and high returns. If something sounds too good to be true, it probably is.”

Delia Rickard, deputy chair of the Australian Competition and Consumer Commission

“Binance has never traded against our users nor manipulated the market, and we never will.”

Binance

“With our CryptoPunk purchase, we’re jumping in feet first. This is just the beginning of our work in this space.”

Cuy Sheffield, head of crypto at Visa

“I think this cryptocurrency revolution and Bitcoin specifically, because of its scarcity, is going to transcend gold. It’s more portable, it’s impregnable in terms of the transaction over the blockchain […] and it’s being adopted quite rapidly.”

Anthony Scaramucci, Skybridge founder

Prediction of the Week

Bitcoin bullish cross on weekly chart paints $225K BTC price target if history repeats

Bitcoin regained the $50,000 price level this week, although the asset subsequently fell several thousand dollars as part of a price correction, fluctuating between $45,000 and $50,000 for most of the week.

During the month of August, the moving average convergence/divergence (MACD) indicator on Bitcoin’s weekly price chart formed and continued through a cross of the indicator’s two lines, and jumped to green on its histogram (the bar part at the bottom of the indicator).

What does it mean? Well, nothing is certain, but according to reporting from Cointelegraph’s William Suberg, the last time Bitcoin’s MACD indicator acted similarly (last fall), the asset’s price grew by more than five times in value in the following half dozen months. BTC could potentially rise above $200,000 if things play out comparably, according to Suberg.

FUD of the Week

Google bans 8 ‘deceptive’ crypto apps from Play Store

Google, the Silicon Valley-based tech overlords, took down eight fraudulent crypto apps from its Google Play Store this week.

Fraudulent crypto-themed mobile apps have been popping up more frequently over the past 12 months, and they usually operate under the false pretext of offering cloud mining services.

According to a recent report from Trend Micro, the apps were charging around $15 a month for their fake services and extra for “increased mining capabilities” — all while duping users into watching paid ads.

The reportedly fake crypto apps included mining services such as BitFunds, Bitcoin Miner, Daily Bitcoin Rewards, Crypto Holic and MineBit Pro, to name a few.

Poll shows Brits concerned over the prospect of a digital pound

According to a survey conducted by Redfield & Wilton Strategies on behalf of Politico, 30% of British adults hold concerns over a Bank of England-issued central bank digital currency, or CBDC.

For some reason, the notion of having a programmable government-backed CBDC that can track all of their spending habits doesn’t sound appealing to them. If they think that’s bad, just wait until they hear about the insatiable appetite for personal data that Apple, Google or Facebook has.

There were 2,500 British adults surveyed in the study during early August, with 24% believing that it could be beneficial, while 46% were undecided.

Coinbase users angry with customer support after funds disappear from accounts

Top U.S. crypto exchange Coinbase was facing backlash this week for terrible customer service in relation to users reporting hacks and being drained of funds.

According to an Aug. 24 investigation from CNBC, thousands of disgruntled customers across the U.S. have lodged complaints against the company, and are unhappy with the lack of response from Coinbase when dealing with hacks and stolen funds.

“Interviews with Coinbase customers around the country and a review of thousands of complaints reveal a pattern of account takeovers, where users see money suddenly vanish from their account, followed by poor customer service from Coinbase that made those users feel left hanging and angry,” CNBC stated.

Best Cointelegraph Features

Blockchain is as revolutionary as electricity: Big Ideas with Jason Potts

“This is completing the revolution that was started with the internet.”

London’s impact: Ethereum 2.0’s staking contract becomes largest ETH holder

The aftereffects of the London upgrade begin to emerge as the Eth2 staking contract becomes the single largest Ether holder.

The new episode of crypto regulation: The Empire Strikes Back

A decentralized exchange reckoning is coming — and it’s bigger than the infrastructure bill — thus, the DeFi community must be ready.

Source link By Cointelegraph By Editorial Staff

#Altcoin #Binance #Bitcoin #BlockChain #BlockchainNews #BNB #Crypto #CryptoExchange #ETH #Etherium #RippleNetwork #XRP

#Altcoin #Binance #Bitcoin #BlockChain #BlockchainNews #BNB #crypto #CryptoExchange #ETH #Etherium #RippleNetwork #XRP #Blockchain #CryptoPress

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coincodecap · 3 years

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Gemini Review 2021

What is the Gemini exchange?

The Winklevoss Twins launched Gemini, a cryptocurrency exchange located in New York, in 2014. Gemini's creators are also renowned for ConnectU. (the predecessor to Facebook). It's one of the few regulated bitcoin exchanges in the United States. This exchange provides over 30 cryptocurrencies with the most significant levels of safety and security.

Gemini Review: Account Registration

1) Go to Gemini's website and click the "Get Started" button in the upper right corner.

2) Now, fill in the blanks and click the following button.

3) They'll ask you to input your phone number, which you should do, and then click "Next."

4) Enter the OTP that was sent to your phone, and your account will be activated.

5) The Gemini application's registration process is identical to that of the Gemini website.

Gemini Review: Verification

The Gemini exchange's verification process is required. Users will not be allowed to trade until they have completed the verification process. The following are the documentation you will need for U.S. residents:

1) They can use state-issued identification, such as a driver's license, passport, passport card, or Permanent Resident Card.

2) For international users: Users must have a passport from their home country or a national ID and a driver's license.

Steps to starting your verification

After you've finished the registration and verification steps, you'll need to open a bank account. Following that, you'll be allowed to begin trading.

How to use Gemini?

How to deposit funds to Gemini?

Gemini supports three payment methods.

Gemini Review: Link bank instantly via Plaid

1) Plaid allows you to make deposits and withdrawals.

2) Users can purchase bitcoin right away (Only available for U.S. residents).

3) Users must provide their contact information, account transaction information, and account information.

4) Banks such as BOA (Bank of America), BBVA, EVO Banco, etc.

Link bank Manually with Gemini

1) Use this approach if you can't find your bank using the previous way.

2) Users can deposit and withdraw funds.

3) It takes around five business days to verify a bank account with deposits.

Add money to Gemini using Debit Card Method.

Users of the Gemini platform can link their debit cards.

1) Users may buy cryptocurrency right now.

2) Within two business days, they can validate their card using microtransactions.

3) Users can only attach debit cards whose native currency is one of Gemini's supported fiat currencies.

How to buy bitcoin on Gemini?

1) Go to your Gemini account and log in.

2) From your dashboard, look for the cryptocurrency you wish to buy and click on it.

3) A section labelled "Make A Trade" is located on the right side.

4) Click "Buy," then "Select Frequency," "Enter Amount," and "Continue."

5) Select "Review Order" from the drop-down menu and go to the confirmation screen.

6) After evaluating, click "Place Transaction" to quickly execute your order.

Gemini Review: Mobile and Website Fees

Even though the platform considers mobile and web view fees differently, the Gemini market order charge is the same for both. However, unlike the convenience fee, the Gemini transaction charge is determined by the user's order amount and fiat currency. For example, the transaction amount for a ten-dollar order will be $0.99. On the platform, you may examine the costs for mobile and web transactions.

Gemini Exchange Fees

Like all other platforms, Gemini uses the maker-taker fee mechanism to calculate trading costs for all orders. The Gemini trading fees are calculated based on the user's total trading volume in US dollars. Furthermore, the smaller the Gemini trading fees are, the larger the 30-day trading volume is. For 0 trading volume, the highest taker and maker fees rates are 0.35 percent and 0.25 percent, respectively.

Gemini Custody Fee

The cost of the Gemini product "Custody" varies greatly. The ultimate charge is determined by several criteria, including the needs of users/investors and institutions, activity volume, asset mix, and amount of holdings. As a result, Gemini constantly offers a discount to its consumers.

Gemini Withdrawal Fees

Wire transfer deposits of supported cryptocurrencies and fiat currency are free of charge at Gemini. When consumers deposit monies with a debit card, however, it charges a fee of 3.49 percent. Individual clients can withdraw funds for free from Gemini, with a monthly maximum of ten withdrawals. If these limitations are exceeded, they must pay a charge based on the kind of withdrawal.

Gemini Review: Products

Gemini Crypto Exchange

1) Because of its primary and easy-to-use interface, it is best suited for novices.

2) Users may look at the Top Movers, Top Traded, Newly Launched, and DeFi cryptocurrency lists.

3) Users can add currencies to their watchlist on the Gemini exchange.

4) You can exchange assets, set up regular purchases, and keep track of your investments.

5) Users may examine their total transactions, recurring transactions, and other information within the portfolio parts.

Gemini ActiveTrader

1) Gemini ActiveTrader is a more complex trading interface that includes advanced charting, more order types, trading pairs, and a more detailed order book view.

2) Market, Limit, Immediate-or-Cancel (IOC), Fill-Or-Kill (FOK), Maker-or-Cancel (MOC), Auction-Only Limit (AO), Indication of Interest (IOI), and Stop-Limit are the eight order types supported.

3) The Gemini exchange's ActiveTrader can carry out transactions.

4) It also features a central limit order book that operates based on a price-time priority paradigm.

5) Users can place a variety of orders, including block trades.

6) Every day, including weekends and holidays, auctions are held for specific trading pairs.

How to place an Order on ActiveTrader?

1) From the Gemini settings page, go to the active trader.

2) From the drop-down menu in the top left corner, choose a trading pair that you want.

3) Go to Buy -> Market (Order Type).

4) In the "Amount" column, enter the quantity.

5) Review the order information and then click "Buy" to finalize your purchase.

Gemini Earn

Gemini Earn is a lending service that allows individuals to lend their cryptocurrency to institutional borrowers in exchange for daily income. You may earn daily compounded interest up to a 7.4 percent annual percentage yield. However, Gemini Earn is only available to citizens of the United States and Singapore. There are no hidden fees, withdrawal fees, or transfer fees while redeeming your assets. Cryptocurrency rates fluctuate depending on the supply and demand for that particular asset.

Getting started with Gemini Earn

1) Go to your Gemini account and log in.

2) In the navigation bar, select the Gemini Earn tab.

3) Choose your preferred cryptocurrency and input the quantity of cryptocurrency you wish to deposit.

4) Read the Terms and Authorization Agreement and the Master Loan Agreement and agree to them (if this is your first deposit).

5) Review the confirmation page before clicking "Confirm."

Gemini Custody

1) Gemini Custody is a safe, regulated, and compliant storage solution for users' digital assets.

2) This product is governed by New York State Trust Company regulations.

3)It's a second unique offline Cold Storage System.

4)Users who want the highest level of security should choose this option.

5)Users can withdraw assets the same day and have instant liquidity for Gemini trading.

Gemini Pay

Users may now spend their cryptos at retail stores using Gemini Pay.

Gemini Pay allows you to make payments at over 30,000 retail locations across the United States. Customers' transactions will be confidential and safe, and there will be no fees charged. Gemini Pay was created in collaboration with Flexa, a cryptocurrency-based payment network that connects buyers and sellers.

Gemini Wallet

1) Gemini users can keep their assets in either a hot wallet or a cold storage system using Gemini deposit addresses.

2) Gemini's hot wallet provides users with insurance against digital asset theft, backed by world-class underwriters.

Gemini Mobile App

Both Android and iOS users may download Gemini applications. The user interface is intuitive and straightforward. Users can, for example, use the mobile app to 1) safely purchase, sell, and store cryptos supported by Gemini.

2) Make a price alert.

3) Make recurrent purchases.

4) Increase the effectiveness of their trading techniques.

5) Put their funds in Gemini Earn and earn up to 7.4 percent in interest.

6) Verify their information.

Gemini Security System

The three points of the Gemini computerized security system are:

1) Defending the design and the user's assets against external attacks.

2) Defending against human blunders.

3) Finally, safeguarding against insider access abuse.

They hold the bulk of their users' crypto in an air-gapped, offline Cold Storage system. A tiny amount of the money is stored in an online Hot Wallet at the same time.

Gemini Reviews: Pros and Cons

Pros

1) Gemini supports over 30 different cryptocurrencies.

2) High levels of security.

3) Make a profit by selling about eight different goods.

4) Suitable for both novice and expert traders.

5) Only available to citizens of the United States.

6) Excellent client service.

7) The registration process is straightforward.

8) There is a smartphone app available.

Cons

1) In comparison to other platforms, the cost is a little high.

2) The platform is also regulated and does not allow for margin trading.

#cryptocurrency #geminiexchange

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sycriptouk · 3 years

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The American Press Vs. El Salvador: Forbes and Vice, Good Cop Bad Cop https://bitcoinist.com/the-american-press-vs-el-salvador-forbes-and-vice-good-cop-bad-cop/?utm_source=rss&utm_medium=rss&utm_campaign=the-american-press-vs-el-salvador-forbes-and-vice-good-cop-bad-cop

Did El Salvador’s Bitcoin story lose steam? Perhaps. However, Forbes and Vice are on the case. The press is still monitoring the situation and Bitcoinist is still monitoring the press. With that dynamic in mind, we compiled the best and worse of the latest press coverage of El Salvador’s Bitcoin Law. You’ll be offended. You’ll be pleasantly surprised.

Related Reading | U.S. Citizens Will Soon Be Able To Buy Bitcoin Across 650 Banks

What did the American Press say about El Salvador? Let’s find out.

Forbes Goes Didactic And Teaches History

The most wholesome article of the lot is Forbes’ “An Economic History Of El Salvador’s Adoption Of Bitcoin.” It goes back in time and teaches the reader about the different currencies that the Central American nation has used over the years. A recent major milestone is the Dollarization of their economy, which “was a proactive decision that wasn’t driven by a crisis per say, but rather to juice the domestic economy.”

Then, Forbes gets down to business. Bitcoin appears and the world shakes:

When dollarization was proposed, the small size of El Salvador’s economy meant that it got a passing complement from the US Treasury Secretary at the time (Lawrence Summers) and a neutral acknowledgement from the Federal Reserve. Yet now that it is embracing bitcoin, a new standard, in much the same way it went around implementing the US dollar, it is attracting the ire of all of the institutions devoted to the international financial system, from the World Bank to the IMF.

Even though Forbes seems to be on Bitcoins’ side, the tone of the article is one of alarm. They’re worried that the Dollar will lose its influence in the region. They suspect that El Salvador is getting rid of Dollarization in a round-about way. In any case, near the end, the article goes for the kill and makes a very poignant observation:

El Salvador’s adoption of bitcoin shows the intersect of economics and politics, how domestic politics shape groups and individuals towards policy outcomes that can affect the world, and how Latin America has started to chip away at a financial system that doesn’t work well for the region.

BTC price chart on Bitstampx | Source: BTC/USD on TradingView.com

Vice Shows Its Real Colors

To the untrained eye, Vice’s pro-Bitcoin. However, they take the most disgusting article award. Their “Crypto-Colonialists Use the Most Vulnerable People in the World as Guinea Pigs” is about some very questionable projects doing very questionable things. It’s not about Bitcoin Beach. In fact, is not about Bitcoin at all. Nevertheless, the picture Vice uses for it is from El Zonte’s Hope House and they embedded this journalistic report that we already broke down.

Related Reading | Bitcoin In Midst of “Losing Some Steam” as Crucial Support Levels Near

After making the public psychologically associate Bitcoin Beach with the most scammy projects that the world has ever seen, they finally mention it:

This is where projects like Bitcoin Beach become problematic: private, pro-crypto foreign interests are testing an economic model via a non-profit organization in one of the poorest nations in Central America. “The international community are using the most vulnerable people as their guinea pigs,” says Howson. “Every time you spend money and move around and use a taxi, everything goes on a blockchain.”

Please note that Howson is not talking about Bitcoin Beach specifically, but Vice incorporated the quote there to make it seem that way. It’s also worth noting that “pro-crypto” and “pro-Bitcoin” are not synonyms, but Vice might genuinely not know that. Everything else, they did on purpose.

Featured Image by AbsolutVision on Unsplash- Charts by TradingView

#IFTTT #Bitcoinist.com

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tradecryotocurrency · 3 years

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Best Crypto Exchanges

WS/Telegram + 852 57054691 Sincerely buying cryptocurrency at high price through trusted wallet 100% securely and instantly

If you’re looking to buy or sell cryptocurrencies, you’ll need to use a cryptocurrency exchange. These online services often work similarly to a stockbroker, giving you the tools to buy and sell digital currencies like bitcoin, ethereum, and dogecoin. The best crypto exchanges make it easy to buy and sell the currencies you want with low fees and strong security features.

When choosing the best crypto exchange for your needs, it’s important to look at supported currencies, pricing, withdrawal options, and security which is where we focused when picking this list of the best crypto exchanges. Keep reading to learn more about which crypto exchange could be best for your goals.

Best Crypto Exchanges of 2021

Best Overall: Coinbase and Coinbase Pro

Best for Beginners: Cash App

Best for Altcoins: Binance

Best Decentralized Exchange: Bisq

BEST OVERALLCoinbase and Coinbase Pro

Number of Currencies: 64

Transaction Fees: $0.99 to $2.99 (Coinbase), Up to 0.50% (Coinbase Pro)

Wallet Included: Yes

OPEN ACCOUNT

Why We Chose It

We picked Coinbase because it makes buying and selling cryptocurrencies very easy with strong security and transparent pricing.

Additionally, Coinbase offers Coinbase Pro with a lower fee structure and significantly more features in terms of charts and indicators.

Pros & Cons

Pros

Solid variety of altcoin choices

Extremely simple user interface

Very high liquidity

Cons

High fees when not using Coinbase Pro

User does not control wallet keys

Overview

While the cryptocurrency industry has been fraught with fraudulent coins and shady exchanges, Coinbase has largely avoided any controversy. Coinbase offers an extremely easy-to-use exchange, greatly lowering the barrier to entry for cryptocurrency investment, which is typically seen as confusing and convoluted.

Coinbase also offers insured custodial wallets for investors and traders to store their investments. They carry insurance against data breaches and hacking and your cash is stored in FDIC insured bank accounts. These custodial accounts are very convenient for newer users just getting their feet wet, but the private keys to the coins within them are owned by Coinbase, and not the investor.

Additionally, Coinbase also offers the free Coinbase Pro version that has a different, but cheaper, fee structure and significantly more options in terms of charts and indicators. Coinbase Pro is a perfect next step for those who have learned the ropes using Coinbase, and it helps round out the overall offering by adding features that the more advanced user would want.

Read the full Coinbase review.

BEST FOR BEGINNERSCash App

Number of Currencies: 1

Transaction Fees: Varies

Wallet Included: Yes

OPEN ACCOUNT

Why We Chose It

We like Cash App because it is very easy to use and gives you flexible options to withdraw to other crypto wallets.

Pros & Cons

Pros

Peer-to-peer money transfer like Venmo or Zelle

Ability to withdraw Bitcoin

Extremely simple user interface

Cons

Only supports Bitcoin and no other cryptocurrencies

3% charge when sending money via credit card

Daily and weekly withdrawal limits apply

Overview

Cash App is a peer-to-peer money transfer system much like Venmo. This type of service allows users to split food, pay rent to a roommate, or even shop online at a retailer that supports Cash App. Cash App can essentially act as a bank account and users can have their own Cash App debit cards. This service is very convenient by itself, but Cash App has even more features.

Cash App also allows its users to invest in stocks, ETFs, and Bitcoin in a similar fashion that Robinhood does. The mobile-first interface that this exchange uses is very easy to figure out and use, making it ideal for a first-time investor.

While its main feature is money transfers, similar to apps like Venmo, it also has a basic crypto investment feature similar to Robinhood. The Cash app allows the user to withdraw cryptocurrency investments to your own wallet. This is the main reason that we chose Square’s Cash app over Robinhood as the best option for beginners looking to buy Bitcoin.

The ability to withdraw cryptocurrency from an exchange is extremely important in the cryptocurrency community. With Robinhood, you can invest and trade cryptocurrency, but you cannot withdraw and spend it how you wish. However, with Cash App, one drawback is that you still don't control the private keys, similar to Coinbase. Many in the crypto-community refer to this concept as “not your keys, not your coin.” This means that if you do not hold the private keys to the wallet the coins are stored in, they are effectively not owned by you.

BEST FOR ALTCOINSBinance

Number of currencies: Hundreds

Transaction Fees: 0.012% to 0.1%

Wallet Included: Yes

OPEN ACCOUNT

Why We Chose It

We chose Binance because it offers a very long list of currencies beyond the most popular digital coins.

Pros & Cons

Pros

Lower fees than other commonly used exchanges

Large variety of cryptocurrencies and trading pairs

More advanced charting

Cons

Geared for more advanced users

Binance US has fewer trading pairs than international version

Not all states supported

Overview

The Binance exchange is an exchange founded in 2017 with a strong focus on altcoin trading. Binance offers over 100 different trading pairs between different cryptocurrencies. It offers plenty of fiat-crypto pairs as well.

As of July 2021, Binance dominates the global exchange space, making up a significant portion of crypto trading volume daily. The exchange only allows for U.S. Dollar deposits by global users via SWIFT, but it does allow you to directly purchase a select number of cryptocurrencies with a credit or debit card. Deposits using 12 other fiat currencies are allowed, including the Euro.

Binance is suited to people who would like to trade or invest in lesser-known altcoins. Binance offers more than 50 different cryptocurrencies to trade and is a good option for anyone who wants more advanced charting than most other exchanges. The features, charting abilities, and data that come with your account are truly impressive, especially when you consider their reasonable fees.

BEST DECENTRALIZED EXCHANGEBisq

Number of Currencies: 63

Transaction Fees: 0.05% to 0.70%

Wallet Included: Yes

OPEN ACCOUNT

Why We Chose It

We picked Bisq because it is a decentralized, open-source exchange with no KYC requirements.

Pros

Decentralized, non-KYC platform

More than 25 different payment options

Mobile app for both Android and iOS

Cons

Transaction speed can be slow

Trading volumes can be low

Not designed for active trading

Overview

The premise of Bitcoin itself is that it grants open and free access to a unit of account. Banking products, like a checking or savings account, are only accessible if you have a legally provable government-issued identification. With Bitcoin, this isn’t necessary. It can be accessed regardless of nationality or location, and without any identification.

While many argue that this accessibility opens up possibilities for criminal activity (the same could be said about using cash), it also immediately grants units of account to individuals in countries with less-developed banking systems. There are millions of people in the world who do not have access to bank accounts or means to trade because their countries may not have the proper financial infrastructure, or the individuals may not have government-issued identification. Bitcoin, used in tandem with a decentralized exchange like Bisq, can be a good solution in these cases.

Bisq is a downloadable software and peer-to-peer decentralized Bitcoin and crypto exchange. This means that Bisq has no central point of failure and cannot be taken down, much like Bitcoin itself. Bisq is non-custodial, which means that no one other than the user touches or controls the user’s funds. This differs from centralized exchanges, like Coinbase, as Coinbase controls the user’s funds in a custodial account to which the user does not have the private keys. In that scenario, Coinbase holds the right to seize your funds if it deems your account activity suspicious, whether or not the activity is actually illegal in your location.

Bisq is instantly accessible to anyone with a computer or smartphone as there is no registration process or KYC (Know Your Customer) rule. This makes it ideal for those looking for privacy, dissidents living within an oppressive regime, or anyone who does not have any government-issued identification.

Bisq offers trading of several different fiat currencies including USD, as well as Bitcoin and a number of other cryptocurrencies. Its decentralized and peer-to-peer characteristics can mean low trading volumes and slower transactions, but for some, this is well worth it.

Final Verdict

If you’re looking to get started with cryptocurrency trading or investing, it’s important to choose the best exchange for your goals. Whether you want the most currencies, the lowest fees, or the easiest experience, there is a good option for you. Whether that’s our all-around winner Coinbase or a competitor like Binance, all you need is a funded account and you can buy your first cryptocurrency.

Compare the Best Crypto Exchanges

Frequently Asked Questions

Understanding the Types of Crypto Exchanges

To choose the best exchange for your needs, it is important to fully understand the types of exchanges.

Centralized Exchange

The first and most common type of exchange is the centralized exchange. Popular exchanges that fall into this category are Coinbase, Binance, Kraken, and Gemini. These exchanges are private companies that offer platforms to trade cryptocurrency. These exchanges require registration and identification, also known as the Know Your Customer, or Know Your Client, rule.

The exchanges listed above all have active trading, high volumes, and liquidity. That said, centralized exchanges are not in line with the philosophy of Bitcoin. They run on their own private servers which creates a vector of attack. If the servers of the company were to be compromised, the whole system could be shut down for some time. Worse, sensitive data about its users could be released.

The larger, more popular centralized exchanges are by far the easiest on-ramp for new users and they even provide some level of insurance should their systems fail. While this is true, when cryptocurrency is purchased on these exchanges it is stored within their custodial wallets and not in your own wallet that you own the keys to. The insurance that is provided is only applicable if the exchange is at fault. Should your computer and your Coinbase account, for example, become compromised, your funds would be lost and you would not likely have the ability to claim insurance. This is why it is important to withdraw any large sums and practice safe storage.

Decentralized Exchange

Decentralized exchanges work in the same manner that Bitcoin does. A decentralized exchange has no central point of control. Instead, think of it as a server, except that each computer within the server is spread out across the world and each computer that makes up one part of that server is controlled by an individual. If one of these computers turns off, it has no effect on the network as a whole because there are plenty of other computers that will continue running the network.

This is drastically different from one company controlling a server in a single location. Attacking something that is spread out and decentralized in this manner is significantly more difficult, making any such attacks unrealistic and likely unsuccessful.

Due to this decentralization, these types of exchanges cannot be subject to the rules of any regulatory body, as there is no specific person or group running the system. The individuals who participate come and go, so there is no one individual or group that a government or regulatory body can realistically pursue. This means that those trading on the platform do not have to declare their identification and are free to use the platform in any manner they choose, whether legal or not.

Methodology

Investopedia is dedicated to helping those interested in cryptocurrency investment make informed and safe decisions. We are committed to providing our readers with unbiased reviews of the top Bitcoin exchanges for investors of all levels. The landscape of cryptocurrency can be quite intimidating. We have chosen exchanges that we believe are trustworthy, secure, easy to use, and have had a long-standing and proven level of quality.

#Bitcoin #sell bitcoin #cryptocurrency #crypto

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