Nimiq Launches ‘OASIS’ Atomic Swaps Between Crypto and Fiat In Partnership With TEN31 Bank

Crypto has just become more instant, with fiat-to-crypto exchanges now available.

Nimiq Oasis, together with German TEN31 Bank, allows for these exchanges, using SEPA transfers, from any European bank that allows instant transactions.

According to a press release detailing the launch, this is “designed to provide a secure and decentralized experience for its users, Nimiq built Oasis to be the perfect non-custodial bridge between fiat and crypto.”

Launched in 2017, Nimiq was designed to improve blockchain’s ease of use and accessibility. Philipp von Styp-Rekowsky, tech lead and co-founder of Nimiq, discussed their ambition.

He said: “We started the Nimiq project to make cryptocurrency accessible, usable and secure for everyone. It was clear to us that without a technology with which the new cryptocurrencies could easily be bought, sold or exchanged, there would be no mass market. With Nimiq Oasis, we have now finally overcome this barrier.”

Matthias von Hauff, CEO of TEN31 Bank, echoed this enthusiasm. He said: “OASIS is a revolution in trading with cryptocurrencies. With this project, we have come a lot closer to our goal of making trading with cryptocurrencies easy and offering everyone involved real added value.”

One of the main advantages of this development is the possibility of exchanging crypto for fiat without having to install software or register. However, Nimiq Oasis does charge a 1.25% fee per transaction and is currently only available for Nimiq Wallet users in Europe.

Please follow and like us:

Crypto Partners with Hospitality Group

You are now able to pay for drinks, food and much more, with cryptocurrency.

This is thanks to a new partnership between Bitcoin Latinum and global hospitality players, The h.wood Group.

According to a statement announcing the deal, this partnership includes “cross-promotional marketing initiatives, event sponsorships, endorsements, and the acceptance of Bitcoin Latinum for services, products, and amenities across The h.wood Group’s diversified portfolio of upscale nightlife and restaurant venues.”

The h.wood Group is known for their worldwide portfolio of hotels and upscale nightlife and restaurant venues. Set up by entrepreneurs, John Terzian and Brian Toll, this partnership is viewed as a progressive step by the brand.

Mr Terzian discussed this, stating: “As entrepreneurs, Brian and I have always looked into the future rather than get stuck in old ways. We are constantly watching, learning and adapting. Crypto and blockchain are the future in many ways and we want The h.wood Group to be ahead of the curve. We are excited for this endeavor with Bitcoin Latinum.”

As an enhanced Bitcoin fork, Bitcoin Latinum has already garnered support from companies within the media, entertainment, gaming, and telecommunications industries. It is designed to reduce the cost of a crypto transaction.

The h.wood Group is also accepting Bitcoin and Ethereum tokens for specified services and goods across their group’s portfolio.

Please follow and like us:

SHIBA Inu Soars As It Gets Ready For Coinbase Pro Listing

Is 2021 the year of the meme coin?

Of course, it is not the year that this type of crypto was first created, but many believe it is the year when these coins hit their stride. For instance, dogecoin has hit the trading headlines more than once over the past 12 months and that’s not just because Elon Musk happened to mention it on a very popular weekly comedy sketch show.

Now, shiba inu (SHIB) seems to be having its moment, with prices of the crypto jumping around 30 percent after Coinbase Pro announced that the crypto will be listed on its platform in just a matter of days.

According to Coinbase Pro, trading will begin on or after 9am Pacific Time (PT) Thursday June 17, if liquidity conditions are met. At the time of writing, it is listed at a price of around $0.0000092 and its market cap is $3.6 billion.

Coinbase Pro also announced that it will be adding both chiliz (CHZ) and the keep network (KEEP). Both CHZ and KEEP saw significant increases in the 24 hours after the announcement. Both CHZ and SHIB will not be available to New York residents.

This announcement comes in the same month that DOGE was listed on the platform. Coinbase Pro recently also added trading support for a number of tokens, including polkadot (DOT), gitcoin (GTC), enzyme token (MLN), amp (AMP), and internet computer (ICP).

Please follow and like us:

Bitcoin Latinum Pre-listed on CoinMarketCap

If you are looking to invest in Bitcoin Latinum, then you may be in luck, as it is now pre-listing on CoinMarketCap.
The fork, which is being pushed as a solution for large transaction volumes, digital asset management and cyber security, is already pre-listed on the platform and will be publicly launched on exchanges later this year.
It will trade under LTNM and will be mining-free. There will be a supply of 888,888,888 pre-mined tokens.
Its tokens are part of a blockchain system which has been adopted by firms in many sectors, including media, gaming, and telecommunications. Increased security on in-flight transactions is another claim that’s being put forward in favour of the coin.
A recent statement from those behind the crypto, listed its real world usability as a key factor in its development. It read: “Bitcoin Latinum is an enhanced Bitcoin fork. The Bitcoin Latinum algorithm and infrastructure break barriers and speed limits that have prevented some virtual currencies from achieving practical, real-time use.”
Bitcoin Latinum has also been hitting the headlines for a new green initiative, entitled the Crypto Climate Accord, which is attempting to achieve a more energy efficient future for crypto transactions.
Founded in 2013, CoinMarketCap is known as one of the world’s premier price-tracking and market capitalization authority websites for crypto. It has between 2.5 and 5 million unique daily visitors on its platform.
Please follow and like us:

Introducing the Kava SAFU Fund — Security of Assets Fund for Users.

What is it?

Kava SAFU Fund is an on-chain community pool that will increase the overall safety of the Kava platform by protecting against unforeseeable black swan events while giving users assurity that their funds are safe. The Kava SAFU community pool’s main function is to make users whole after events like unforeseen bugs, exploits, hacks, liquidation failures or other technical issues that result in lost user funds.

These types of events haven’t happened on the Kava platform because of Kava’s architecture, robust testing, audits, and market monitor infrastructure. Now Kava is introducing the latest component in its security and reliability infrastructure; the Kava SAFU Fund. Designed to counter the unique threat of black swan events.

The Kava SAFU Fund will be created through a one-off inflationary event where 10% of Kava’s current token supply will be minted and held within the Kava SAFU Fund.

Motivations

Now that the Kava platform has grown to hundreds of thousands of users and has hundreds of millions of dollars in collateral deposits, Kava Labs as a centralized entity cannot and should not take responsibility for unforeseen events for following reasons:

  1. As a US company, we must collect KYC/AML and run OFAC checks before transferring funds to any users. Even if we wanted to, due to regulations we cannot send funds to many users around the world. In the spirit of creating an open and decentralized platform for anyone, anywhere in the world to use, the Kava platform needs to have an on-chain way to make users whole in the event of loss that is free of censorship and regulation.
  2. Collecting KYC/AML of all the users on the Kava platform is the opposite of what DeFi is all about. Kava Labs would have to do exactly this if a global black swan event occurs that impacted funds across all users on the Kava platform.
  3. Now that the collateral deposits are hundreds of millions of dollars in size, it’s simply not possible for Kava Labs to play a role in making users whole in black swan events. The Kava platform network needs a better solution that can scale with its increasing size.

Historical Context and Comparables

Inspiration for the Kava SAFU Fund comes from traditional finance where margin trading platforms have a rainy day fund to cover losses. In crypto, we have several notable examples with Bitmex’s Insurance Fund that ensures liquidations of margin positions go smoothly and Binance’s all purpose SAFU Fund which has been used to make users whole after serious hacks and exploits have occurred.

More recently, the Cosmos Hub has adopted a community pool which has several purposes, including that of being a SAFU fund for users. Similarly other Cosmos-SDK based blockchains like Akash and Terra have adopted different forms of community pools.

Qualification for Covered Incidents

Many events can impact user funds. Events like upgrade errors, defaults, and critical bugs that result in lost funds will qualify to be reimbursed by the Kava SAFU Fund subject to governance approval. Below is a example non-exhaustive list for illustrative purposes of the type of events which may impact users funds and may be covered by the Kava SAFU fund, however it is critical to note that any and all actions taken on behalf of the Kava SAFU fund is made by the Kava governance community alone.

  • Network downtime resulting in loss of users funds (e.g. via inability to re-supply)
  • Critical network bugs which result in loss of users funds (e.g. inaccurate accumulation of interest)
  • Critical network exploits which result in loss of users funds (e.g. exploited vulnerabilities in business logic)
  • Critical cross-chain software bugs or exploits which result in loss of user funds (e.g. cross-chain double spends or multi-sig wallet compromise)
  • Critical bugs or exploits in auxiliary network services (e.g. oracle software exploits)
  • Market manipulation which results in loss of user funds (e.g. driving massive liquidations by manipulating price feed or associated reference market price)
  • Application service defaults in the event of massive liquidation events (e.g. under-collateralization of Kava of Hard application services resulting from system debt not being met at auction)
  • Network upgrade critical bugs which may result in loss of users funds
  • Network upgrade rollback procedures which may result in loss of users funds

The Funding the Pool

There are many ways to fund the pool, including a one-off inflationary event or a continuous inflation schedule which adds to the pool overtime.

For the purposes of providing an adequate SAFU Fund for the current levels of collateral and debt managed by the Kava platform, 10% of total Kava supply should be created in a one-off inflationary event and put towards the Kava SAFU Fund initially. This will be more than adequate for the foreseeable future.

Should the platform grow orders of magnitude larger or if Kava SAFU Funds are disbursed after an event, it will be up to the Kava governance community to decide how to ensure the Kava SAFU Fund is appropriately re-capitalized from that point forward. This can occur from a redirecting of various platform fees, another one-time inflationary event, or a continuous inflation contribution to the Kava SAFU Fund going forward.

Usage and Disbursement of Pool

It will ultimately be up to the Kava token holder group to vote on each SAFU-spend proposal/request and determine if the case qualifies for distribution.

If a SAFU-spend proposal passes successfully, the number of KAVA encoded in the proposal will be transferred from the Kava SAFU Fund to the address encoded in the proposal, and this will happen immediately after the voting period ends.

Source: https://medium.com/kava-labs/introducing-the-kava-safu-fund-security-of-assets-fund-for-users-bd8a7005a28f

Please follow and like us:

Where Governmental Regulation and Bitcoin Prices Collide: How Crypto Correlates with Politics

Despite the fact that governments have been kept out of Bitcoin since its inception– they can still influence prices.

For many investors, Bitcoin and similar cryptocurrencies signify a highly speculative asset that can not only provide exceptional ROI, but also allow the opportunity for investors of any level to hone their skills at trading. Trading opportunities continue to grow, as DeFi continues to pave the way for institutional interest, while retail and new investor friendly exchanges like Bitvavo.com allow space for nascent parties

For any investor, with any level of expertise and with any amount of investment will need to keep a keen eye on market happenings, as the value of Bitcoin and other cryptocurrencies is known for wild swings in either direction, with one of the biggest influencers being that of governments. Despite the fact they have little control over how the coin is priced or distributed.

Crypto Steers Clear of Politics

Despite cryptocurrencies like Bitcoin being built in such a way that they defy political and regulatory manipulation, prices still tend to correlate with certain political moves. Bitcoin price is based on the economic principle of “artificial scarcity”, which means that the supply of Bitcoin is strictly regulated. There are 21 million Bitcoins in existence and more can never be made. The release of the coins is also regulated by the mining process– as transactions are validated, Bitcoins are released as a reward for adding transactions to the public ledger, the blockchain.

Because of this tight control of supply and release, it is impossible for political interference to directly affect the price of the asset. This was in-built into the original design of the coin by its creator, Satoshi Nakamoto. In the original whitepaper, Nakamoto alludes to the fact that centralized currencies are subject to nefarious manipulation by issuing agencies. Something that Nakamoto aimed to avoid by using cryptocurrencies as a more democratized option for financial engagement.

The decentralized nature of Bitcoin and other crypto currencies assures that no one hub of power would ever function as a gatekeeper for the networks. The decentralized network remains as such due to the validation method described above. Decentralization means that not only can there be no political influence on the coin, but that no one can interfere with the distribution or function of the coin. However, there are still many social and political occurrences that do influence the price of cryptocurrencies.

How Crypto Markets Still Correlate with Political Climate

Despite the fact that government agencies have no direct control over the functionality of bitcoin, certain political actions and climates can still severely affect its price. If given its head, governments can discourage investment through three main regulatory actions:

  • Regulating price assets

When governments tightly regulate the price of other assets, such as fiat or bonds, through moving value amongst international markets, this can diminish the exchange value of cryptocurrencies. When other assets increase in value, it can dilute the price of associated markets.

  • Overregulate and increase costs of affiliated business

By putting an increase of restrictions on crypto-associated business, or adding excessive licensure or accreditation requirements, the price of doing business can soar, making it a less lucrative opportunity for investors, which can dampen the resolve of startups and entrepreneurs.

  • Imposing controls and affecting supply

By adding import restrictions or high rates of taxation can also dissuade users from engaging with a particular asset. That’s because it becomes cost prohibitive, particularly for retail investors, to invest.

Despite these classic legislative tactics on controlling the price of unregulated assets working well in other markets, bitcoin and cryptocurrencies are less likely to fall prey to these practices. Because of the decentralized nature of bitcoin mining and validating, it also becomes a borderless and extra-national asset. Which means that it would require a huge coordinated effort on behalf of multiple large governing agencies in order to make an impact on the thriving adoption of cryptocurrencies that is being seen.

Moreover, governments can also unwittingly improve prices and encourage enthusiasm for cryptocurrencies by engaging in other types of political action that can decrease trust in fiat currencies and other national securities.

  • Engage in efforts that would result in hyperinflation

As seen in countries like Venezuela, governments that have engaged in legislation that results in uncontrolled hyperinflation, citizens have chosen to turn towards cryptocurrencies in order to protect existing assets against loss of value.

  • Any fall in economic trust or value

As seen with the impact the novel coronavirus wrought on economies throughout the world, causing cash and coin shortages and propelling the globe closer to a cashless society left many with renewed skepticism about many national fiat systems, resulting in a greater adoption and acceptance of cryptos.

  • Political instability

In many places, where political instability means that fewer people have access to stable financial processes, finding a better way to both move and protect personal wealth becomes even more important for many. In these areas, cryptocurrencies have presented a viable option for the un- and underbanked.

Please follow and like us:

Win a Tesla Roadster With Bitcoin Latinum

How would you like to get your hands on a custom built Tesla Roadster?

Bitcoin Latinum, a digital asset associated with award winning movie studios and globally renowned insurance brokers, is offering you that chance.

The digital asset, which has been described as the “next generation of Bitcoin fork” for its ability to “break barriers… that have prevented some virtual currencies from achieving… real-time use”, sold out of its initial public presale in November 2020.

To celebrate it coming to the market again later this year, Bitcoin Latinum is giving away eight custom Tesla Roadsters and you’re not even required to buy anything to be in with a chance of winning.

You can enter the draw over on shop.bitcoinlatinum.com.

You can enter until the end of April and the draw will be made later this year when the Bitcoin Latinum hard fork is launched.

This highly anticipated Bitcoin Latinum has been in the news already over the last few months, being slated as the “world’s largest insured digital asset”. Globally renowned brokers Marsh and McLennan’s Asia division has been appointed for it.

Its association with movie studio, Cross Creek Media, also hit the headlines. The studio, who made Oscar winner Black Swan, has adapted the asset.

Its CEO, Timmy Thomspon discussed this move, stating: “Cross Creek’s portfolio of new media technology investments perfectly positions us to take advantage of the digital asset sector in media and gaming.”

Please follow and like us:

Huobi Global releases details of crypto buying campaign and RUB withdrawals/deposits

Recent news from global cryptocurrency exchange Huobi has seen the platform announce user support for the Russian Ruble (RUB). This latest development will mean that Huobi users can now withdraw and deposit in Russian Rubles. This is, of course, great news for the long-term success of the exchange itself and also users there who have been waiting for RUB support on the platform.

This is not the only new announcement made by the company though. They have also released details of users now being eligible to buy top digital currencies, such as BTC, LTC, ETH, BCH and DASH with Rubles. These new innovations will work in conjunction with AdvCash, which is one of the most respected payment solutions around in the crypto world.

RUB deposits and withdrawals in Huobi – how does it work?

Huobi Global has confirmed that both crypto buying and RUB deposits/withdrawals will be conducted through AdvCash wallets moving forward. This will come with a minimum deposit/withdrawal limit of 200 RUB for users. There has also been a maximum limit introduced for deposits of 100,000 RUB and 50,000 RUB for withdrawals.

It seems that the process of making transactions in RUB via AdvCash wallets on Huobi will be pretty simple. Users will be asked to provide identification details first, which will then be verified by AdvCash. People will then simply log into their Huobi Global Account and find the ‘Deposit-Exchange’ option under ‘Balances’. Once there, you would just find ‘RUB’ on the list of eligible currencies to fund your account with them.

Verification of KYC also needed

At this point in the process, users will also have to complete and submit their KYC for verification, if not done already. When this is all sorted, you can then choose ‘AdvCash Balance’ as your method of payment and choose how much you want to deposit. You then choose ‘Pay’ and get sent to the AdvCash platform where you set up an account or log in to continue.

After this, the whole payment procedure can be finished by using any of the options in your wallet. Once the payment is completed, you will be sent back to the ‘Deposit’ page and be able to carry on using Huobi Global as usual. Security is assured as all transactions made to and from your Huobi account are recorded.

Special RUB promotion period

Those who decide to use RUB in the current promotion period can save 0.99% on deposit fees and 2.49% on fees for withdrawals. It is also expected that Huobi Global’s decision to bring RUB into their platform will pave the way for other FIAT currencies to follow.

Source: Pressat

Please follow and like us:

Legal? The Future of Cryptocurrency and the Law

Cryptocurrency is a relatively recent invention, especially when we compare it to a traditional currency, which has been around as long as humans have lived in organized societies. But with any new development, there is a natural hesitancy in acceptance of change, especially from those who are in control of the old ways. But does this hesitancy translate into cryptocurrency being illegal? Let’s take a closer look at the legality or otherwise of cryptocurrency today.

Property or Currency?

Since cryptocurrency is an alternative to national currencies, and they don’t comply with the same regulations that a central bank would enforce on official currencies, governments are hesitant to acknowledge them as real currencies. In many places, the legal establishment has deemed cryptocurrency to be property rather than currency. But why does this matter? It makes any legal complaint concerning being treated unfairly as a different procedure. Any sale is deemed to be an exchange of goods rather than a financial transaction.

Criminal Activity

The link to criminality tarnishes the view of the cryptocurrency in the eyes of the general public. But we need to consider that in most places, it is not the use of the cryptocurrency that is the illegal activity, rather what the currency is used for. There are a far higher number of criminal transactions using regular money than using crypto. Why is this is not used as an argument to ban all use of money? We cannot ignore that there is a reason for criminals to use cryptocurrency, and that is how difficult it is to trace transactions.

Purchase Protection

As we mentioned earlier, with crypto coins often not recognized as real money, you don’t receive the same payment protection as with other payment methods. A good example is the chargeback procedure when buying large-value items with a credit card. You can get around this by opting to buy USDT with a credit card rather than a bank transfer.

Trading & Profits

How do you track profit and loss when trading in cryptocurrency? It is tempting to leave these transactions off your tax return, and given the nature of tracing these payments, you would almost certainly get away with it. But that’s not to say you should try and get away with it. If you are to do things by the book, you only really profit when you transfer your coins to regular currency. Before this moment, you should consider them Capital Assets and lodge them in your accounts as such.

Banned

Although we have talked of cryptocurrency not being illegal, this is only true in most places. Some countries have made it illegal to purchase cryptocurrency, such as Namibia. It is essential to be mindful of these laws when traveling internationally or trading internationally to avoid criminal charges or freezing of your funds.

 

This article has been contributed on behalf of Paxful. However, the information provided herein is not and is not intended to be, investment, financial, or other advice.

Please follow and like us:

Typerium: the app that aims to revolutionise content creation

UK-based blockchain start-up Typerium has revealed an app that it says will change the way content creation is done for everyone.

The app, available on the Apple App Store, is designed to enable users to create fantastic visual content that can be shared instantly on every digital platform.

Typerium will expand its offering in the future, but even v1 of the app offers the opportunity for creators to access sophisticated suites of photo and text editing options, more than 400 premium fonts from some of the best type foundries around and free access to more than half a million stock images.

There are also more than 40,000 professional-quality designed assets already available on the Typerium app, with more added every day.

Simplicity is also key to the Typerium platform: with it, you can share the assets you’ve created to every social media network with just one click.

Crucially, though, all this work is protected by Typerium using blockchain technology.

The app took more than two years of work to reach the point of a successful launch, but Alex Haigh, the founder of Typerium, feels the app could change the game completely for content creators.

“It’s been an extremely challenging 2 years,” he says, “however, I believe we now have a solid foundation to build on to compete with companies like Canva, who have concerned the market for too long.”

Ultimately, Typerium intends to facilitate the work of content creators with a whole blockchain-protected ecosystem where they can work and run their business. This means a social media network and marketplace as well as a distributed platform for content creation.

Alex Haigh again: “What we are ultimately setting out to build has never been done before. In these current times, it’s more important than ever to provide people with an opportunity to become self-sufficient without the need for reliance on huge corporations or marketplaces for their livelihood. This is the first crucial step towards creating a decentralised platform that has the potential to empower content-creators.”

With top-quality designs available, a look and feel that’s smooth and sophisticated, and an easy versatility and simplicity in its operation, the first iteration of the Typerium app looks to be off to a good start.

Please follow and like us: