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  • Polkadot (DOT) and VeChain (VET) are Falling; Holders Recover Their Losses After Entering The Hideaways (HDWY)

    Polkadot (DOT) and VeChain (VET) are Falling; Holders Recover Their Losses After Entering The Hideaways (HDWY)

    The broader crypto market enters another correction after last week’s bull run. Among today’s losers are Polkadot (DOT) and VeChain (VET) – both crypto majors are set to erase weekly gains as selling pressure mounts.

    Investors keen to take advantage of the current market volatility enter the presale project The Hideaways (HDWY) which is consolidating positive momentum with a huge price rise. Invest now and receive a massive 100% bonus on your purchase as part of their Black Friday offer. Move quickly, the offer ends soon!

    Polkadot (DOT) Drops After Being Declared “Not Security”

    Polkadot (DOT) declines at a time when the price should be soaring. According to the representatives of Web3 Foundation, the platform organization behind the Polkadot network and the Kusama platform, native token DOT is software and not a security.

    The announcement made on Twitter highlights its three-year engagement with SEC has come to fruition, and this will be a landmark toward achieving a more decentralized and trustless Web3.

    Still, Polkadot (DOT) has not reacted positively to the major update and declined 2.75% to $6.88 during the session. The price was met with a strong selling pressure ar $7.00, with investors wanting to take profit at this level to switch to The Hideaways (HDWY).

    Polkadot (DOT) is down 87% from the same month last year – analysts say it will continue trading down in November.

    VeChain (VET)’s Popularity is Taking a Break

    VeChain (VET)’s recorded a stellar October performance. It serviced 7,000 users and processed 100,000 transactions, giving the price a 10.17% boost during the month.

    However, the latest network updates are turning sour. VeChain (VET)’s social mentions, a good measure of investor appetite for cryptocurrencies, bottomed to a multi-month low. This means the market’s attention is focused elsewhere, and it may be on the presale token The Hideaways (HDWY) which is brewing popularity lately.

    Moreover, VeChain (VET)’s total value locked (TVL) declined from a week ago, meaning that traders are pulling out staked funds due to growing fears.

    VeChain (VET) fell 3.0% to $0.025 in the latest charts. Analysts warned the latest decline could continue until $0.020 if buyer support does not come.

    The Hideaways (HDWY) is Overtaking Polkadot (DOT) and VeChain (VET)

    The Hideaways (HDWY) is welcoming a tremendous amount of support for its presale event.

    Analysts are commending the newest cryptocurrency project as it is the first one in a long time to offer investors stability and long-term potential.

    The Hideaways (HDWY) is a luxury real estate investment project offering NFTs that are backed with real-world assets. For as low as $100, investors can buy fractionalized digital collectibles that would entitle them to receive a portion of the project’s monthly rental income.

    The Hideaways (HDWY) has sold 60% of its presale tokens in just a month – a true mark of popularity. But it’s not too late to join as The Hideaways (HDWY) is just starting to give out a remarkable return on investment to takers.

    Buy now before the HDWY price rises later this week and you’ll also receive a huge 100% bonus on your investment. Secure DOUBLE the tokens and also buy a token that’s increasing in price. This is a winning investment!

    Read more about the project here:

    Website: https://www.thehideaways.io

    Pre-Sale: https://ticket.thehideaways.io/register

    Telegram: https://t.me/thehideawayscrypto

    Twitter: https://twitter.com/hdwycrypto

    Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.

  • Ankr Becomes RPC Provider to Sui Blockchain as Part of New Strategic Partnership

    Ankr Becomes RPC Provider to Sui Blockchain as Part of New Strategic Partnership

    Ankr enters strategis partnership with the Sui blockchain

    One of the world’s biggest Web3 infrastructure providers, Ankr, has announced a strategic partnership with Sui blockchain. This collaboration means Ankr is now one of the first RPC (Remote Procedure Call) providers to the Sui blockchain, which is designed to allow developers and creators to offer exceptional Web3 experiences to the next billion users.

    The Sui blockchain is basically a permissionless Layer-1 blockchain that supports the development of a wide array of decentralized applications (dApps). It is horizontally scalable and provides low-cost solutions. By enlisting Ankr as an RPC provider, Sui blockchain will enable developers to build scalable and safe DApps that are easily upgradable too.

    Premium RPCs and an Exceptional Layer-1 Blockchain

    Sui blockchain is a relatively new blockchain, but its potential is limitless. Thanks to the new partnership with Ankr, developers can experience the uniqueness of Sui and what it offers. They will be able to access the Sui Testnet community, make request calls and get information that is in tandem with what they would get if they ran a full node themselves.

    Ankr is already well-known in the Web3 universe. Its RPC connection to Sui will open up the blockchain to many developers and creators. It will primarily enable Web3 developers and decentralized apps to communicate with Sui blockchain with ease.

    Speaking about the new partnership, Ankr’s Head of Product, Josh Neuroth, said:

    “Sui’s new technology and Move-based development, paired with Ankr’s easy connection to the blockchain, will create a building environment that is easy and intuitive enough to open the doors of to a growing set of new developers and projects. We are very excited to support Sui so Web3 developers can build faster on what is shaping up to be a promising new ecosystem.”

    Reliable Blockchain Router

    Like similar products, Ankr’s Sui Testnet RPC acts as a blockchain router or messenger. It connects a handful of things to the Sui blockchain, including wallets, dApps, and command-line interfaces. It relays on-chain information across Sui nodes, associated dApps, as well as end-users. Ultimately, it helps to execute such tasks as transactions, fetching ownership information, populating wallet balances and more.

    A unique Layer-1 blockchain, Sui utilizes a proof-of-stake mechanism and the Move programming language. It offers high throughput as well as low latency. It can practically process more than 120,000 transactions per second. Already, Sui has attracted a variety of projects, including DeFi protocols, DEXs, NFT projects, Launchpads, wallets, social platforms, and more.

    What to Expect Next

    Sui mainnet is expected to go live in the not-so-distant future. Once that happens, Ankr will add support for it, enabling Web3 developers to streamline building and achieve better results in less time. Ankr is already reputed for providing high-performance and time-tested RPC node infrastructure that is capable of handling any request load. Obviously, it will significantly expand Sui Blockchain’s public RPC resources.

    Another interesting thing to know is that Ankr is committed to promoting the global Sui network. It provides a geo-distributed and decentralized Sui RPC with several independent blockchain nodes running in different countries. This ensures guaranteed connection as well as low latency.

    Following the Ankr-Sui partnership announcement, Ankr is now the choice RPC provider of over 39 blockchains and testnets. Notable networks in its portfolio include Ethereum, Polygon, BNB Chain, Solana, and Avalanche. RPCs basically allow different applications to interact with a blockchain.

  • Kutee Kitties- The First Kitties NFTs That Will Save the World from Plastics to Be Released Soon

    Kutee Kitties- The First Kitties NFTs That Will Save the World from Plastics to Be Released Soon

    Kutee Kitties NFT Collection
    Kutee Kitties NFT Collection

    Kutee Kitties is a typical collection of non-fungible tokens NFTs, but one with a strong mission– to save the world from plastic. With such an innovative aim to accomplish, Kutee Kitties will be released in the second week of November.

    The Kutee Kitty NFT project was born with the awareness of how plastic has pervaded the air, the ground, water and vegetation and so much so that it is now within us too. The project will breathe a new life into plastics polluting the oceans by creating usable items from recycled plastic.

    About Kutee Kitties

    The Kutee Kitties collection consists of 10,000 NFTs with over 100+ different traits to create a ‘rare’ and uber-cool Kutee Kitty. The rare attributes will be depicted in the NFTs metadata and will be displayed with other NFTs featuring that specific attribute.

    The team members explain in their white paper, “Technology has fashioned our world into a global village, and one of the biggest and growing marketplaces in this village is the world of NFTs.” Thus, Kutee Kitty’s goal is to be something larger and more significant than a simple collection of tokens.

    Six phases of the Kutee Kitty Project

    • The first phase includes mining of NFTs at 0.03 ETH and the collection will be launched on the secondary market, OpenSea. With this, the project will also release themed t-shirts made entirely from recycled material.
    • The second phase includes launching of a 3D cats collection with more monetary rewards, travel donations for the holders. Additional batches of t-shirts and hoodies (made from eco-friendly materials) will be released, with 50% of the proceeds going to charity for the cause of conserving our oceans and 50% to the holders.
    • The third phase includes the launching of a YouTube channel, with demonstrations of all the charitable initiatives adopted globally. As the project members embark on  a global trip, they will plant many trees. Also, 50% of the channel’s proceeds will be donated to charity, while the remaining 50% will be redistributed to holders within the community.
    • The fourth phase includes launching a proprietary e-commerce for sustainable products and/or made with recycled material. The e-commerce will be a passive income system, and will be run using the store’s earnings. 20% of the revenues from this e-commerce will be returned to NFT holders every month.
    • The fifth phase includes funding a project called, Kanesis, which will produce novel bioplastics from hemp and other agricultural waste.

    Perks of Membership

    • The first 100 members will be whitelisted who have their profile pictures of the Kutee Kitty NFT. Whoever wins their extraction will be gifted ETH.
    • 5 members of the whitelist will get a trip to a natural place paid for by the team.

    A $ 10,000 CONTEST

    To win the prize of $10,000 in ETH, participants will have to make a video in which they demonstrate that they have improved the environment by planting a tree, growing flowers, adopting a needy animal, and creatively reusing plastic. 10 lucky winners will be chosen at the end of the contest, and the top reward is $10,000 in ETH!

    Note: The contest is initially for NFT holders for the first phase, but will be later open to everyone.

    Mission

    The mission of the Kutee Kitty NFT project is to create non-polluting materials, like T-shirts from recycled plastic. The platform will also tap into great investments to create innovative materials.

    The project attempts to use trashed plastic from land and oceans to create rare and valuable NFTs. Each Kutee Kitty’s revenue will be reinvested back into the project to pay for contractors to get rid of junk or plastic remains from the land and seas. The used plastic will then be sent to an expanding network of recycling facilities. The more Kutee Kitties are sold, the more money will be invested in plastic cleanup and recycling initiatives.

    The project also intends to inspire other projects to come up with such cause-centric long term goals as the project uses self-sustaining strategies with positive and attainable ripple effects. Note that NFT holders will earn 20% of investment revenue in funding any programmer involving environmental preservation.

  • MEXC Global Now Exceeds 10 Million Users; The Meaning Behind the Upgrade Color to “Ocean Blue”

    MEXC Global Now Exceeds 10 Million Users; The Meaning Behind the Upgrade Color to “Ocean Blue”

    As of September 2022, MEXC has finally reached a respectable milestone of 10 million users! To celebrate this unique achievement, starting November 18th of this year, MEXC will introduce a major brand color change to its global userbase to spread awareness for which it stands for. After surveying customers directly during a limited roll-out in South Korea, the color has transitioned from MEXC’s original ‘Forest Green’ color-scheme, to a new, beautiful ‘Ocean Blue’ pallet.

    MEXC Global
    MEXC Global Exceeds 10 Million Users

    At MEXC, our #1 priority is adhering to the principle of ‘Users Come First’. Upon further surveying additional global markets, the response has been overwhelmingly positive for ‘Ocean Blue’ – the change is now permanent. Vice President of MEXC, Andrew Weiner states that users in Korea advocated strongly for the rebrand to ‘Ocean Blue’. “Following our evaluation, we tested the requested color upgrade with our passionate users from MEXC Korea. It was great to see the change so well-received, and MEXC is truly grateful for the customer insight that directly influences our views and image.”

    Now, why ‘Ocean Blue’? Our blue oceans cover 71.35% of Earth’s surface, whereas the forest area accounts for just 7.27%. Forests are fragile, and restricted to the land – but the sea is immense and limitless. ‘Ocean Blue’ incorporates ‘every river that flows into the sea.’ According to Weiner, ‘Ocean Blue’ is also a more accurate reflection of MEXC’s brand identity. “We are calm and professional, open and inclusive, and powerful and innovative – inviting every user to dive deep and explore what treasures MEXC has to offer!”

    MEXC was founded in April 2018. It is the world’s leading one-stop crypto shop and fastest growing exchange. They offer futures, spot, ETF, and NFT Index trades, as well as staking, MX DeFi, and many other services for our special users.

    “When we look back at MEXC’s history, ‘Users Come First’ has always been more than a motto – it is the recipe to our success,” Weiner said. Which the improvement of the brand color can not exemplify.

    MEXC significantly upgraded its Futures trading system and product functions in their June 2020 release. Before the upgrade, the operations, product, and technical teams spent months doing thorough consumer research, gathering feedback, and performing rigorous product testing. The improvements range from minute details to extravagant enhancements to customer journeys, including such examples as “Lightning Close,” and “Leverage Multiples Adjustment”. All these upgrades came directly from MEXC’s skilled team and loyal customer feedback.

    ‘Users Come First’ has been the heart of the crypto industry’s essential values of decentralization and community spirit and MEXC bleeds this mantra. “It is because we put our users in the forefront and present them with our professional goods and services that we are able to have reached the accolades of reaching the highest liquidity in futures, spot, and ETFs in the second half of this year with constant efforts,” Andrew explained. “Please enjoy our rebrand and take comfort that you are in safe hands.”

    Contact

  • Rising Exchange FixedFloat Adds New Coins: Avalanche (AVAX), Solana (SOL)

    Rising Exchange FixedFloat Adds New Coins: Avalanche (AVAX), Solana (SOL)

    The up-and-coming digital asset exchange FixedFloat has announced that it has added new coins such as Avalanche (AVAX) and Solana (SOL) to its repertoire. The FixedFloat team declares that the platform has added the new coins as it broadens its operations.

    Committed to providing flexible solutions tailored to users’ wants and needs, FixedFloat boasts fast processing, robust designs, and dedicated customer support teams. “You choose whether fixed or floating exchange rates fit your strategy,” state representatives of the FixedFloat team, “Pick the right strategy and make favorable trades. No sign-ups, no hassle.”

    The exchange offers optional registration and “No Know Your Customer (KYC)” feature to provide users with a trouble-less cryptocurrency trading experience. Not requiring KYCs has boosted FixedFloat’s position among newcomers in the crypto industry. Additionally, this feature has helped the exchange stand out from the crowd and rise above competitors.

    Besides, the exchange also possesses the lowest and best rates in the crypto market at $1, regardless if the exchange rate is fixed or float. Besides this, the platform is also not custodial. This means that the exchange does not store user coins; it is an added feature to enhance security as there are no intermediaries. Additionally, the exchange sends funds to users from hot wallets.

    Launched in 2018, this rising crypto project also supports the lightning network. The exchange not only has numerous cryptocurrencies at the moment but as seen through this new announcement, is also actively adding more supported currencies and trading pairs. Another vital feature of the platform is that it supports cross-platform functionality.

    Interestingly, FixedFloat has also kickstarted its own affiliate program, wherein investors can promote the exchange and earn rewards for their marketing efforts. Speaking about their strides in the market, the FixedFloat team says:

    “We are long-term players with a vision and want to become your reliable and trusted partners in the world of digital assets. Our mission is to simplify the process of exchange through practical and scalable solutions that make the crypto economy work for you.”

    Interested users can visit the FixedFloat website for more information.

    About FixedFloat

    FixedFloat was launched in 2018 by a group of cryptocurrency enthusiasts and blockchain experts with extensive experience in entrepreneurship, web technology, and finance. Through practical and scalable solutions that make the cryptocurrency economy work for users, FixedFloat simplifies the process of exchanging cryptocurrencies.

    The platform enables users to choose between fixed or floating exchange rates that fit their investing strategy. FixedFloat boasts fast processing, robust design, and friendly, dedicated customer support, among others to provide a best-in-class exchange that meets all the needs of the cryptocurrency community.

  • Swapin Roadmap: What Updates Are Left For Crypto Users In 2022?

    Swapin Roadmap: What Updates Are Left For Crypto Users In 2022?

    Swapin

    The year 2022 has been a resounding success for the Swapin brand. After the rebranding from PiixPay and the €1.88M funding round, the company sought out to expand across Europe and begin to deliver on important milestones from its roadmap.

    With the year nearly over, we are looking back at all Swapin has released this year and highlighting what else from the company’s ambitious roadmap might be left for 2022.

    What Is Swapin? A Crypto-To-Fiat Payments Leader

    2022 was a pivotal year for Swapin. After the company’s rebranding, it has been nothing but an upward trajectory since. Crypto users are more actively seeking ways to convert their digital assets than ever before, and Swapin makes it easy and convenient.

    Swapin solutions like InstaPay let crypto users make payments in crypto that are instantly converted into fiat currencies and deposited into the recipient’s bank account. InstaFill connects to a specific crypto wallet. Each time funds arrive at the crypto wallet, they are immediately converted into fiat currency and sent to the specified bank account. The entire transaction is seamless and smooth.

    B2B services like E-Com and CoinCollector allow businesses to accept cryptocurrencies from users but avoid the risks of volatility and other issues associated with holding crypto. All business products immediately convert the crypto and move the fiat to a corporate IBAN account.

    Swapin Solutions In 2022: A Recap

    In 2022 alone, Swapin delivered upon many of its promises, as ambitious as they were. Most recently, the company implemented support for Web3 wallets like MetaMask, Trust Wallet, and more. 

    Bringing additional cryptocurrencies and fiat currencies to the platform was a top priority for Swapin in 2022, and they delivered support for DAI, BNB, and BUSD, plus added GBP so users can choose between the pound or euro.

    Swapin established several meaningful partnerships with major brands like real estate giant RE/MAX. The company also delivered an updated, more streamlined Swapin app.

    What Is Left In The Swapin Roadmap For 2022?

    With only a month remaining in 2022, here is what could be left in store for crypto users, according to the company roadmap. Swapin’s roadmap went well into 2023; however, so many of these features could potentially be slated for later. 

    Much of Swapin’s focus in the near future could be on expanding business solutions further. A partner widget is planned that will enable an on-ramp that allows clients with fiat to buy crypto, as well as an off-ramp solution for merchants and their clients to convert crypto profits from margin trading, NFTs, DeFi, Play-To-Earn, and more into cash. 

    Swapin is developing InstaBuy, a fiat-to-crypto solution that allows users to buy top-listed cryptocurrencies with EUR and GBP. Swapin will also, at some point, introduce support for virtual IBAN accounts to truly bridge the gap between crypto payments and traditional finance on one platform.

    Connect With Swapin Solutions Today

    With more features added, Swapin is quickly becoming the most robust solution for individuals and businesses seeking to transact with cryptocurrencies safely. Swapin is a trusted and licensed company offering a wide range of B2B and B2C services aimed at bridging the gap between digital and traditional finance.

    To get more information on Swapin, check out the Swapin app. You can also visit the official Swapin blog to get the fastest updates on when any new features are introduced.

  • Is It Possible to Borrow Cross-Chain Bridge Tokens on Binance Loans?

    Is It Possible to Borrow Cross-Chain Bridge Tokens on Binance Loans?

    Binance Crypto Loans logo cover image

    Binance Loans is a platform that lets crypto investors borrow digital assets by staking their existing spot assets as collateral. In addition to “regular” assets like Bitcoin, Ethereum, and BNB, users can borrow cross-chain bridge tokens like BETH as well.

    Open Binance Crypto Loans

    What is Binance Loans?

    Binance Loans is a digital investment service that enables users to deposit their crypto assets as collateral to take out a crypto loan. In total, the service supports close to 100 loanable assets and over 70 collateral assets. The list of supported assets includes:

    • Bitcoin
    • BETH
    • BNB
    • Cardano
    • Dogecoin
    • Ethereum
    • Polkadot
    • Polygon
    • Uniswap
    • XRP

    When borrowing crypto assets, Loans users can, as a rule of thumb, secure anywhere from 60% to 65% of the value of their collateral as a Binance loan – this is called the Loan to Value ratio (LTV). In other words, depositing $1000 worth of crypto assets as collateral, allows users to take out a crypto loan with a USD value of $600 – $650. 

    Borrowed crypto accrues interest, which can vary greatly depending on the asset type. For example, borrowing Bitcoin costs just 2.28% on a yearly basis, whereas borrowing Avalanche costs more than 50%. 

    There are considerable differences between various assets in terms of maximum collateral amount, interest rate, borrowing limit, and other loan parameters. You can see the standard values of these parameters, and their ranges, down below:

    • Interest rate (Annually): 2.28% – 50.37%
    • Initial LTV: 60% – 65%
    • Margin Call: 75%
    • Liquidation LTV: 83%
    • Collateral limit: $2,000 – $3,500,000
    • Minimum single loan amount: $100
    • Borrow Limit: $10,000 – $2,200,000

    Crypto loans on Binance come in five different term durations, including 7, 14, 30, 90, and 180 days. It is worth noting that the loans can be repaid before their expiration date. Failure to repay a loan within 72 hours of its expiration results in the automatic closure of the position, with the remaining funds used for repayment.

    A relatively new feature that is available on Binance Loans is the so-called Loan Staking, which allows users’ collateral to be staked and used to support on-chain operations. Staking rewards accrued are used to offset the cost of interest rates – in some cases, interest rates can fall all the way down to zero percent, making the option especially attractive for owners of supported Proof-of-Stake (PoS) coins.

    What is a cross-chain bridge token?

    A cross-chain bridge token is a digital asset that transfers the properties of a particular token from the source blockchain to a destination blockchain. Cross-chain bridge tokens are useful because blockchains are not natively designed to communicate with each other. Case in point, depositing BTC directly to the Ethereum network, and vice-versa, results in a loss of funds. 

    For this reason, interoperability products that are capable of connecting different blockchains have become quite popular in recent years. Usually referred to as token bridges, these tools allow a token’s value to be transferred from one blockchain to another. Tokens bridged to a destination chain are often referred to as wrapped tokens, although not always.

    For example, Wrapped Bitcoin (WBTC) is an Ethereum ERC-20 token that represents BTC on the Ethereum network and can be swapped for BTC at a 1:1 ratio at any time. WBTC’s purpose is to allow BTC holders to participate in decentralized finance (DeFi) on Ethereum, which is not possible with “regular” BTC.

    Another popular cross-chain bridge token is BETH, which is issued any time that ETH is staked on Binance Staking. BETH is a BNB Smart Chain-based token representing ETH at a 1:1 ratio. When deposited in a Binance Spot account, BETH allows holders to generate up to 5.2% APR in Ethereum staking rewards. 

    As mentioned previously, Ethereum holders can stake their ETH to gain BETH. But there are other ways for Binance users to get their hands on BETH – namely, the spot market and Binance Loans options. We’ll examine the latter option in more detail in the following sections.

    How to borrow cross-chain bridge tokens using Binance Loans?

    Borrowing BETH – or any other supported cross-chain bridge tokens on Binance Loans – is a very straightforward process that takes only a couple of minutes altogether. To start, you must first head to the Binance Loans platform. You can do so by clicking on the button below.

    Borrow BETH on Binance Loans

    Step 1: Open Binance Loans

    a Binance homescreen schreenshot showcasing where to find Binance Crypto Loans

    To open Binance Loans, navigate to the Crypto Loans button that is nested in the Finance drop-down menu on the homepage.

    Step 2: Search for the token you want to borrow

    searching for borrowable asset on binance crypto loans

    Select the cryptocurrency you want to borrow. For the purposes of this guide, we’ll be borrowing BETH. Keep in mind that the process of finding the coin or token you want to borrow is the same no matter the asset.

    Step 3: Select crypto collateral, borrowing amount, and loan duration

    crypto loan parameters on Binance Loans

    Proceed by selecting the collateral type you wish to secure your loan with. After that, select the duration of the loan and enter the borrowing or collateral amount. Both amounts are directly tethered to each other. You can see the interest rate data (and the reduced rate thanks to Loan Staking) at the bottom of the screen.

    Step 4: Borrow crypto

    crypto borrowing confirmation on Binance Loans

    If you are ready to confirm your loan, click Start Borrowing Now. You’ll be greeted by a popup that showcases all parameters of your newly created Binance Crypto Loan. 

    To manage ongoing orders and see your loan history, head to the Loan History section, which is located in the Orders drop-down menu on the account page.

    Final thoughts

    Binance Loans is a cryptocurrency investment service that enables crypto holders to leverage their existing spot assets to magnify their market exposure. Binance Loans supports a vast number of digital currencies, including cross-chain bridge tokens like BETH, which are quickly gaining in popularity in recent years. 

    Unlike traditional loans, which generally require a good credit score, are very rigid in loan terms, and sometimes disincentivize early repayments with poor repayment schemes, the borrowing service provided by the Binance crypto exchange suffers from no such drawbacks.

    For more information, we kindly ask you to check this helpful repository of the most frequently asked questions about Binance Crypto Loans.

  • Zonda Slashes Maker/Taker Fees by 50% Across All Markets From November 22-29

    Zonda Slashes Maker/Taker Fees by 50% Across All Markets From November 22-29

    Tallinn, Estonia, 22nd November, 2022, Chainwire

    Zonda, the leading cryptocurrency in Eastern Europe, will slash maker and taker fees by 50% for one week.

    Zonda is the largest cryptocurrency exchange in Eastern Europe. It serves dozens of cryptocurrencies and continues to make inroads across Central Europe. 

    Part of the Zonda growth plan is increasing the user base and the upcoming 50% reduction in maker/taker fees is part of that strategy. Users will pay less to complete trades on the platform, allowing them to use their capital more efficiently.

    The 50% reduction goes into effect on November 22, 2022, at 12:00 UTC, until November 29, 2022, at 12:00 UTC. All verified Zonda users will automatically benefit from these reduced trading rates, except those with a dedicated fee plan. Moreover, the discount applies to all trading pairs on the exchange. 

    Zonda has been operational since 2014 and serves over 1 million traders globally. In addition, the exchange holds a Finance Intelligence Unit license and conducts thorough AML procedures. 

    About Zonda

    The original company was founded in Poland in 2014 by local crypto enthusiasts to serve as a platform for buying and selling cryptocurrencies. In the following years, it has dominated the Polish market, becoming a symbol of cryptocurrency exchanges in Poland by frequently upgrading its platform, ensuring an intuitive and state-of-the-art experience for investors.  
    In November 2019, the company moved to Estonia. BB Trade Estonia OÜ became the operator of the exchange platform, and the platform gained its Finance Intelligence Unit (FIU) license. The company rebranded to Zonda in 2021 with the goal to expand beyond Poland and Eastern Europe.

    Contact

    Mark Hartley
    mark.hartley@zondaglobal.com

  • How to Get Daily Crypto Rewards With Binance Simple Earn

    How to Get Daily Crypto Rewards With Binance Simple Earn

    Binance cryptocurrency exchange logo cover image

    Launched in September 2022, Binance Simple Earn is a crypto savings platform that enables users to generate passive income with their spot digital assets. The platform combines savings and staking products into a streamlined platform designed to increase the utility of idle crypto assets.

    Generate Crypto Rewards with Binance Simple Earn

    What is Binance Simple Earn?

    Binance Simple Earn is a digital asset investment offering that enables crypto investors to earn daily rewards generated by their existing crypto assets. A part of the broader Binance Earn platform, Simple Earn can also be thought of as a crypto savings account, which gives Binance users the option of subscribing to saving products and staking Bitcoin, Ethereum, and numerous other assets. 

    The platform streamlines the process of generating passive income with crypto assets, and provides users the ability to utilize both locked and flexible products, tapping into the power of crypto staking and interest rates accumulation.

    With the platform’s roll-out earlier this year, Binance unified Flexible Savings, Locked Savings, and Locked Staking products, under the Simple Earn umbrella. As of November, the platform features more than 300 crypto products, with varying expected annual percentage rate (APR) levels and subscription durations.

    Binance Simple Earn products can be categorized into two broad categories – flexible and locked products. Whereas flexible products allow users to withdraw their assets at any time, locked products require users to part with their crypto for a longer period of time. However, locked products typically allow users to deposit larger amounts of crypto and earn a higher APR. To see a more detailed breakdown of the differences between flexible and locked products, see the table below.

    Flexible-term productsLocked-term products
    Rewards distributioninitial rewards are deposited in the Spot account on the third day; after that, dailyinitial rewards are deposited in the Spot account on the third day; after that, daily
    Asset redemptionat any timeafter the locked period ends
    Yield expectationslow to moderatemoderate to high

    How to use Binance Simple Earn?

    Contrary to certain yield-generating DeFi products, which require extensive knowledge of the Proof-of-Stake (PoS) consensus algorithm, crypto wallets, staking pools, transaction fee fluctuations, and more, Simple Earn lowers the barrier to entry and enables crypto newcomers and veterans alike to generate passive income with crypto.

    If you are interested in earning rewards and seeing how to earn high yields, staking rewards, and using Binance’s savings offering to its full potential, you must first get familiar with how Binance Simple Earn works. 

    Follow the steps outlined in the following section to learn how to subscribe to a Simple Earn product, to see how Binance interest rates work in practice, and how crypto staking works.

    Binance Simple Earn: A step-by-step guide

    In this guide, we’ll take you through the process of subscribing to a Simple Earn product. For the purposes of this guide, we’ll be using BNB, the native utility and governance asset of the BNB Smart Chain (BSC) ecosystem. However, the process is virtually the same across different digital assets and Simple Earn product types (flexible/locked).

    Step 1: Open Simple Earn

    Binance Simple Earn option highlighted on the Binance homepage

    First, you’ll need to log into your Binance account. If you don’t have a Binance account, you can click here to create one. After that, select Simple Earn from the Earn drop-down menu on the Binance homepage.

    Step 2: Select a Simple Earn product to subscribe to

    A screenshot of the Binance Simlpe Earn dashboard

    The Simple Earn platform features more than 300 flexible and locked products that vary by the maximum expected APR, duration, flexible/locked options, and, obviously, by supported asset type. You can search for the asset you wish to use, or use filters to display assets that are deposited in your spot account. Once you’ve picked the product you’d like to subscribe to, click Subscribe.

    Step 3: Select the duration of your subscription

    Subscribing to a Binance Simple Earn plan

    As mentioned above, we’ll be using BNB for the purposes of this guide, locking it for the duration of 120 days to generate an estimated APR of 5.9%. 

    On the right side of the screen, you can see all vital information pertaining to the savings plan, including estimated interest, APR, and important dates. 

    You can toggle on or off the Auto-Subscribe option, depending on whether you wish to automatically resubscribe to the product upon its expiration (in our case, 120 days) or not.

    To start the Simple Earn subscription, click Confirm.

    Step 4: Confirm Simple Earn subscription

    Binacne Simple Earn subscription confirmation popup

    After confirming a Simple Earn subscription, you should be greeted by a popup notifying you of the successful start of the plan. To manage your plans, click View Holdings. Conversely, you can also manage your active and past Simple Earn plans by navigating to the Earn wallet section that’s nested in the account page.

    How to manage Simple Earn subscriptions

    The Earn wallet is the central hub for managing active and past Simple Earn subscriptions – it enables users to see the total value of their positions, daily and total profits, estimated interest rate payments, redemption date, locked period (if there is one), and more.

    Binance Earn wallet homescreen

    One particularly useful feature that is available through the Earn wallet is the ability to redeem crypto assets before the lockup period ends. You can find the feature by scrolling to the far right side of the screen (highlighted in red on the image above).

    While redeeming assets before the lockup ends is possible, doing so foregoes accrued interest. Also, early redemption is not instantaneous – it can take a couple of days before assets are transferred to the spot wallet.

    Binance Simple Earn early redeemption popup

    If you are content with the drawback of early redemption and still want to proceed, you must first agree to the Simple Earn Service Agreement and then click Redeem earlier.

    It is worth noting that early redemption should be used only when unforeseen consequences, like extreme market conditions or the immediate need for crypto assets, arise. If you suspect you might need deposited crypto assets before the lockup period ends, you should strongly consider using flexible Simple Earn products instead – this way, the interest earned won’t be lost no matter when the funds are withdrawn.

    Final thoughts

    Binance Simple Earn combines staking and savings products into a single crypto interest account that is easy to use and supports hundreds of different cryptocurrencies. Depending on users’ wants and needs, they can pick among more than 300 flexible and locked options available on Simple Earn.

    If you want to learn more about the inner workings of Simple Earn, crypto rewards calculation and distribution, we kindly ask you to check our recent article on the topic.