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Kick Inflation’s Butt With These Three Deflationary Cryptos: BNB, XRP and Rocketize Token

Inflation is affecting every aspect of life. Food, clothes and drinks are inescapable. There is one place that is used to not conforming, crypto. The creation of crypto came from people wanting to have a decentralised place to store money, escaping the control of banks.

Some cryptocurrencies are also trying to escape inflation by burning tokens and ensuring investors don’t have to worry about inflation like the rest of the world. Three cryptocurrencies, Rocketize Token (JATO), BNB and XRP, are dead set on remaining deflationary and don’t have any plans to change that fact anytime soon.

Rocketize Token Burns Tokens Like Rocket Fuel

Built on the BNB smart chain, Rocketize Token has an excellent foundation for its native crypto JATO. Rocketize Token is on a mission to explore decentralised finance and Web 3. The meme coin will do this with the help of its open-sourced community, The Atomic Nation. They are now constructing a crowdfunding system for authors, artists, and inventors.

The crypto will also have specialised NFTs that are being worked on by The Atomic nation as this is written. The team are working on an eCommerce site that will host trading card NFTs. NFTs will also be accessible through special mining events.

The best feature of Rocketize Token is its deflationary nature. The cryptocurrency will do this by burning tokens regularly to increase the value of its native currency JATO. There will be a 2% tax applied to each JATO transaction. The JATO wallets will receive half of those tokens, and the remaining half will be burned. This will benefit both the crypto and the investors.

BNB Ensures an Unsaturated Market – Keeping Oxygen Supply Up With Extra Room to Breathe

BNB is the native currency for the Binance crypto exchange. BNB, which debuted in late 2017 at a price of slightly more than $0.10 per token, is one of the best-performing cryptocurrencies ever. BNB has had a value increase of more than 6,000x from its all-time high in 2021.

The best part of this token is that it is deflationary. There are 200 million BNB tokens in circulation overall. However, this cryptocurrency is inherently deflationary, not least because Binance routinely burns currently circulating tokens. Nearly 40 million BNB tokens have already been burnt, or about 20% of the total supply. This helps the crypto keep its value and not become too saturated.

3…2…1 Take Off – XRP Taking off in the Charts With Its Deflationary Nature

Another great example of a deflationary cryptocurrency is XRP. It is the native currency of the Ripple blockchain. Having been launched in 2012, it is one of the most popular cryptos in the market. Instead of mining for tokens, XRP has a unique consensus method that primarily works through banks.

The XRP network burns transaction fee-related tokens automatically. Although small, the standard transaction fee of 0.00001 XRP could eventually result in a significant number of burned tokens. This amount of XRP tokens being burnt will ensure it won’t be affected by inflation.

Final Thoughts

Inflation is never something people never want to welcome, and with these three cryptocurrencies, you can ensure to avoid it. BNB, XRP and Rocketize Token make sure to benefit their investors.

For more information on this project:

Presale: https://rocketize.io/buy

Website: http://rocketize.io

Telegram: https://t.me/RocketizeTokenOfficial

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.

November 20, 2022
Three Potential Coins To Move The Crypto Space In 2022: Runfy, Hex Coin, And Quant

Since the introduction of Bitcoin (BTC) to the crypto market, many crypto users and enthusiasts have noticed that monotony has been present with various altcoins over the years. Runfy (RNF), Hex Coin (HEX), and Quant (QNT) seek to be the answer to these questions, with Runfy (RNF) being one-of-a-kind with its unique features to bring wealth to the community with just fitness and exercise. More is expected from Runfy (RUNF) as its features show potential with Bitcoin (BTC), if not more.

Runfy (RNF): The First Of Its Kind To Exist

Runfy (RNF) is the world’s first-ever token that facilitates the ability to lose weight and earn rewards or wealth at the end. With the Runfy (RNF) token, a user can easily earn coins at the same time. The Runfy project is similar to a gym program that financially rewards users for meeting their fitness goals. Their software/app monitors users’ daily mileage and rewards them in cryptocurrency accordingly. The Runfy group, with its utility token Runfy (RNF), aims to help individuals improve their health, amass cryptocurrency, and challenge themselves to new heights with their token.

Runfy (RNF) promises users that maintaining their fitness and rewarding health is their top priority. Every Runfy (RNF) token holder would have access to this health fitness education, and they would be rewarded by using their daily fitness tips to keep them fit. The Runfy project, which operates on the Binance Smart Chain (BSC), sets up not one but two distinct metaverse-specific realms where users can engage in a wide range of activities, make a living, and do some shopping in this universe.

Hex Coin (HEX) Is Intended To Improve The Smart Contract Mechanism

Hex Coin (HEX) was designed to use the growing Ethereum-based DeFi (Decentralized Finance) ecosystem for digital currencies. Hex Coin (HEX) is an Ethereum-based (ERC-20) token launched on the Ethereum network to be the blockchain equivalent of the Certificate of Deposit (CD) in conventional financial markets and also intended to serve as a haven for investors. While the Hex Coin (HEX) smart contract contains the consensus code and also the staking mechanism, the Ethereum network is only used for the sending and receiving of Hex Coin (HEX) tokens and relating with the Hex Coin (HEX) smart contract.

By incorporating features that promote price growth or discourage harm to price, Hex Coin (HEX) allows users to bet their Hex Coins (HEX) for a part of their currency supply or inflation. The smart contract punishes Staking early in Hex Coin (HEX), whereas staking more Hex Coin (HEX) for longer is rewarded.

Quant (QNT) Was Explicitly Made To Utilize Multi-Chain Blockchains

With its June 2018 debut, Quant (QNT) set aims to improve global blockchain and network connectivity without compromising on speed or compatibility. In developing the first blockchain OS, this project breaks new ground by allowing many blockchains to communicate with one another.

The Overledger network is the foundation of the project, which Quant (QNT) describes as the ecosystem of the future of the digital economy. Quant’s (QNT) primary objective, realized through Overledger, is to close the gap between various blockchains. Using Overledger, programmers may create Multi-chain Applications (MApps) that run independently of any central server. To make a MApp on the Quant network, developers need access to a particular number of Quant (QNT) tokens.

Runfy (RNF)

Twitter: https://twitter.com/RunfyToken

Presale: https://presale.runfytoken.io/

Website: http://runfytoken.io/

Telegram: https://t.me/RunfyTokenOfficial

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.

November 20, 2022
Can Dogeliens Be Added to an Investment Holding with Flow and Tron?

Since the launch of the first cryptocurrency, Bitcoin, cryptocurrencies have demonstrated consistent development over the years, which has led many to believe that they are the future of digital trading.

Alternative cryptocurrencies that aim to expand the cryptocurrency industry are following in the footsteps of Bitcoin’s significant breakthrough. To this point, most of them have made significant contributions to the technologies that already exist.

Flow (FLOW), Tron (TRX), and Dogeliens (DOGET) are three cryptocurrencies that are gaining popularity in the market. In this post, we will examine these three cryptocurrencies.

Every one of these crypto tokens has a unique collection of characteristics, as well as benefits and drawbacks. Continue reading if you’re interested in learning more about these cryptocurrencies.

Flow (FLOW)

Flow is a blockchain-based platform developed by the creators of CryptoKitties that provides developers with the resources they need to make robust and flexible decentralized applications (dApps). It’s a carbon-free platform that relies on the proof-of-stake consensus mechanism.

FLOW, the platform’s native token, is useful for various transactions, including staking, trading, and reward accumulation. Flow’s multi-node code architecture is one of its main selling points since it may significantly increase performance and throughput while decreasing environmental impact.

There is no sharding involved in any of these transformations. Flow recently announced that the Increment Liquid Staking Protocol was now operational on the mainnet of its platform. Thanks to the connection, users would be able to earn Flow staking incentives without having to lock their tokens.

Tron (TRX)

The TRON network is a Blockchain-based decentralized network powered by the TRX token. Users communicate with one another directly rather than going through a centralized server because of the framework’s configuration. Due to the blockchain’s inalterability, this is now a practical reality.

Like Ethereum, TRON (TRX) facilitates the creation of smart contract-based distributed applications (dApps). One must have TRX, the network’s native cryptocurrency token, to vote on the platform. Both hardware wallets and mobile apps are suitable storage options for tokens (long-term).

As a means of ensuring the integrity of its platform, TRON (TRX) relies on a consensus process known as delegated Proof-of-Stake (dPOS) for staking. Participants in the staking process can earn bonuses.

The use of the network to make a purchase or payment costs nothing. Users of the TRON (TRX) network can vote on crucial community issues through a Decentralized Autonomous Organization (DAO).

Dogeliens (DOGET)

The Dogeliens (DOGET) utility token is a game-changing digital asset that will fuel an ecosystem of non-fungible tokens (NFTs) and decentralized finance (DeFi). Providing access to the metaverse for users is the primary objective of Dogeliens (DOGET). Players can access the site and interact with one another through it.

Users can generate Dogeliens (DOGET) and put them to use within the ecosystem. To add some excitement to Dogeliens (DOGET), the team has devised several creative ways to play the game. Since the project has released so many coins and because they are so affordable, investing in $DOGET has become a far more appealing proposition for users of any platform.

As the sixth stage of its pre-sale, the supply of Dogeliens (DOGET) being offered for sale in the presale is selling out very quickly. The goal of the meme token is to raise $5 million through its pre-sale as a cryptocurrency. The fact that Dogeliens (DOGET) have been so successful in the presale is one of the primary reasons why many industry professionals believe they will be the next significant cryptocurrency to emerge.

The Dogeliens (DOGET) cryptocurrency appears to be an underdog that can prove its doubters wrong. When the new currency enters circulation, its primary objective will be to successfully fight against crypto titans like Flow (FLOW) and Tron (TRX).

Find out more:

Presale: https://buy.dogeliens.io/

Website: https://dogeliens.io/

Telegram: https://t.me/DogeliensOfficial

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.

November 19, 2022
Crypto Betting Platform Coinplay Announces 100% Welcome Bonus & Promotion for FIFA 2022 World Cup

Press Release: Cryptocurrency betting platform Coinplay has launched a new 100% Welcome Bonus promotion in celebration of the FIFA 2022 World Cup in Qatar.

November 17, company location — The World Cup is the biggest sporting event of the year, and there is a plethora of unique betting opportunities that make it even more exciting. On the flip side of that – it’s easy to get lost in different bookies, odds, and promotions. Coinplay is a crypto betting platform that combines easy-to-use functionality with both crypto and fiat payments so users can bet on all the upcoming FIFA 2022 World Cup games.

Fully Licensed with Over 40 Cryptocurrencies

Coinplay is a fully licensed betting platform & online casino offering a multitude of betting possibilities and promotions. All Coinplay games are crypto-friendly with over 40 different cryptocurrencies supported. Players can also use up to 5 different cryptocurrencies on the same account, making for a flexible experience. Coinplay also features an option to exchange users’ fiat currencies for crypto for quick deposits.

VISA & Mastercard Support

A special “Buy cryptocurrency” widget allows players to enter their VISA/Mastercard details and buy the crypto coins they want with a bank card. It’s also convenient to have sports and esports betting in the same place with thousands of slots and casino games. All these features are available in mobile applications and translated into 30+ languages.

The main advantage of the crypto platform is that the registration is fast and new users can join anytime during the World Cup without missing a thing. Welcome Bonus equals the amount of the player’s first deposit – up to 5,000 USDT.

World Cup 2022 Betting

The number of possible odds for the World Cup games can be overwhelming, but It is easy to find the bet that you want on Coinplay thanks to the platform’s intuitive navigation and user-friendly design. Players can bet easily on everything during the World Cup. From single matches to champions, head-to-head stats, successes of specific teams, player stats, and much more.

Extra Promotion & Lottery

Most people bet on specific matches, and there is even a special promotion just for that. It is called “World Cup Heat” and users can take advantage of it anytime till the 18th of December. Any bet over 2 USDT on the World Cup matches earns lottery tickets, with each ticket earning a chance to win one of nine great prizes from 400 to 4,000 USDT. The bigger bets bring more tickets, but even a small one may be the luckiest.

Additional Features

Coinplay offers a great combination of sports betting and casino games. Between sports and esports players can use the same account to enjoy thousands of slots, casino games, and even live casinos with real dealers. A 100% Welcome Bonus is available in the casino as well. And last but not least, is the ever-popular cashback feature. Players get cashback for both betting and playing casino titles, and for those who bet a lot during the World Cup.

The World Cup may become much more exciting with a free lottery, doubled betting deposit, and cashback for bets – and Coinplay offers all of these at once. Avid users can enjoy the excitement and opportunity of the biggest football tournament of 2022 and a 100% welcome bonus at Coinplay.

Coinplay Socials

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Media Contact Details

Contact Name: Natalia

Contact Email: marketing@coinplay.com

Coinplay is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

November 19, 2022

‘We Are Buying One Bitcoin Every Day,’ Announces El Salvador President Nayib Bukele

Key takeaways:

The president of El Salvador, Nayib Bukele, has announced the nation will be buying 1 Bitcoin each day starting November 18
El Salvador has spent more than $103 million on Bitcoin so far
The Central American country is currently down more than 61% on its BTC investment

Bukele is taking dollar cost averaging to a new level

President of El Salvador, Nayib Bukele, announced on Thursday that the Central American country would start buying one Bitcoin per day starting on November 18.

We are buying one #Bitcoin every day starting tomorrow.
— Nayib Bukele (@nayibbukele) November 17, 2022

Last year, El Salvador became the first country in the world to recognize Bitcoin as legal tender. Since the historic vote in the Legislative Assembly, and subsequent implementation of the law, the country has made a significant investment in Bitcoin.

Date	BTC amount	BTC price	Investment amount
September 6, 2021	400	$50,000*	$20,000,000*
September 7, 2021	150	$44,000*	$6,600,000*
September 20, 2021	150	$45,000*	$6,750,000*
October 28, 2021	420	$60,950	$25,599,000
November 29, 2021	100	$54,370	$5,437,000
December 7, 2021	150	$48,670	$7,300,500
December 21, 2021	21	$49,310	$1,035,510
January 21, 2022	410	$36,585	$14,999,850
May 9, 2022	500	$30,745	$15,372,000
June 30, 2022	80	$19,000	$1,520,000

*Figures are estimated based on the price of BTC at the time of purchase.

In the span of 10 separate Bitcoin investments, El Salvador spent roughly $103.9 million on 2,381 BTC. In total, the country spent an average of $43,637 on each BTC its holds in its treasury. Based on the current market price, which is $16,701 at the time of writing, El Salvador is down roughly 61.7% on its crypto investment.

While the country’s treasury is currently down a considerable amount on its cryptocurrency investment spree, the losses could quickly turn into large gains if Bitcoin’s cyclical price history serves as any indication.

Buy/Sell BTC

November 18, 2022

Join Coco’s Carnival Now and Win Up To $2,100,000 or a TESLA

The World Cup fever starts to hype up in Qatar. As one of the sporting industry’s most anticipated major football leagues, fans are excited about the intense competition among the participating teams. This year, the World Cup will have 64 intense matches in different cities in Qatar, the first country in the Middle East to host such an event.

The World Cup becomes more intense with the addition of BC.GAME. The Argentine Football Association recognizes the crypto casino platform as its crypto casino sponsor. BC.GAME is set to support the Argentine national team in its upcoming games. Due to this, the crypto-gambling platform will be able to reach wider audiences all over the world — the partnership between BC.GAME and AFA will provide football punters with an exciting experience of the 2022 Fifa World Cup.

BC.GAME is offering promotions to its players throughout this year’s World Cup. Here are the promotions where BC.GAME offers players a chance to win up to $2,100,000 or a Tesla. Coco’s Carnival is a separate page created by BC.GAME for World Cup fans and sports bettors.

World Cup All-Winner Predictions

BC.GAME offers a $100,000 prize pool for those who submit their World Cup predictions before November 26, 2022. Sports bettors are to place their predictions on the winners of each group. From the winners of the knockout rounds, players will predict who will be this year’s world champion.

Players with VIP 4 and above are eligible to join this promotion. They are welcome to participate for free and must submit their predictions by November 26, 2022, at 00:00 UTC. The prediction platform will automatically close on the specified deadline. Any submissions made beyond the deadline will be considered ineligible.

To win a share of the prize pool, the predictions made by a player must be accurate. If more than one player makes the same prediction, the prize pool will be divided equally. Only one player per household is allowed to join the game. As part of BC.GAME’s policy, multiple claims or players with combo bets will be disqualified from the promotion.

Upcoming World Cup Promotions from BC.GAME

BC.GAME will release the details of the other two promotions soon, offering a $2,100,000 prize pool and a Tesla. Players can access the game details for $2,100,000 from November 20, 2022, until December 19, 2022. Players interested in joining Coco’s Tesla Giveaway may access the promotion’s details from November 20, 2022, until December 10, 2022.

AFA and BC.GAME Partnership

The global partnership agreement of these big names will open a way for crypto-casino gamers and football fans to enjoy both the benefits of cryptocurrency and the excitement of football matches. Both brands are committed to providing revenues on both ends.

The partnership will focus not only on the World Cup but also on the upcoming leagues in which AFA is participating. AFA and BC.GAME are seeking engagements with Argentine team members and crypto casino players.

According to AFA, their partnership with the winner of the 2022 Crypto Casino of The Year award is an opportunity for fans and players to embrace the emerging technology of the blockchain industry. With the help of BC.GAME, AFA will be able to create digital products as their other source of income.

About BC.GAME

BC.GAME is a crypto gambling platform that offers various online casino games, live casinos, and sports betting opportunities. The platform has been around for 5 years and holds a Curacao license for operation. With its integration of cryptocurrency and blockchain technology, players will have access to the benefits provided by both technologies.

The crypto-gambling platform is not only accessible on a computer. Players who wish to bet can also access it through their smartphone’s mobile browser since the site’s interface is compatible with mobile phones.

Now that the website has been redesigned, it offers more features that should be enjoyed by all its players. Sports betting is now included in its gaming portfolio. People who wish to bet on major leagues, especially the upcoming World Cup, are offered different promotions and bonuses. The platform is also open to receiving fiat currencies aside from the cryptocurrencies it currently supports.

November 18, 2022
BC.GAME’s World Cup Carnival Offers $2.1M and a Tesla in Prizes

Willemstad, Curaçao, 18th November, 2022, Chainwire

To mark the FIFA World Cup 2022, online gaming platform BC.GAME is offering multi-million dollar prizes via its Coco’s Carnival portal. Crypto Casino BC.GAME is a major World Cup advocate thanks to its sponsorship of the Argentine Football Association.

Throughout 2022, BC.GAME has been offering an ever-growing number of prizes, culminating in a grand promotion that coincides with the World Cup. This gives players a chance to win up to $2.1M or a Tesla car from Coco’s Carnival, a separate page created by BC.GAME dedicated to fans and sports bettors of the World Cup. BC.GAME offers a $100,000 prize pool for those who submit their World Cup predictions before November 26, 2022. Sports bettors are to place their predictions on the winners of each group. From the winners of the knockout rounds, players must predict who will be this year’s world champion.

Players with VIP 4 and above can participate for free and finalize their predictions by 26/11/2022 00:00 AM UTC. In the event that more than one player makes the same prediction, the prize pool will be divided equally, and only one player per household is allowed to join the game. As part of BC.GAME’s policy, multiple claims or players with combo bets will be disqualified from the promotion.

Further details of the promotions offering a $2,100,000 prize pool and a Tesla will be released soon.

BC.GAME’s partnership with the Argentine Football Association will focus not only on the World Cup but also on the upcoming leagues in which the AFA is participating. AFA and BC.GAME are seeking engagements with Argentine team members and crypto casino players.

About BC.GAME

BC.GAME is a crypto gambling platform that offers various online casino games, live casinos, and sports betting. With its integration of cryptocurrency and blockchain technology, BC.GAME enables players to access the benefits provided by both technologies. Sportsbetting is included in its gaming portfolio, supporting wagers on major leagues, including the upcoming World Cup.

Contact

PR
Issay Domingo
BC.GAME
larswriter@bcgame.com

November 18, 2022
Crypto Marketing 2022: How Big Eyes Coin Overtook The Meme Coin Moment

It’s 2022, and everywhere are distractions. In your pocket right now is a machine capable of delivering to you nearly any sort of entertainment you could ever wish for. When you turn on your television, you’re able to pause, skip, or fast-forward through ads for products of all varieties. Whether you’re listening to the radio, watching a video on an online platform, or even reading a book through a digital reader, it’s impossible to avoid marketing.

For Meme Coins such as Big Eyes Coin (BIG), Floki Inu (FLOKI), and Shiba Inu (SHIB), this oversaturated advertising culture presents a difficult challenge. How can small, niche cryptocurrency projects make a splash in such an environment? How can you grab the attention of everyday potential customers?

Each of the projects listed above has attempted a different approach to this issue, with varying degrees of success. In the following article, we’ll break down how each of these currencies has attempted to establish its place in an increasingly crowded crypto economy.

Shiba Inu: Flaunted through Fashion

The large and popular Shiba Inu (SHIB) Meme Coin has tried out a unique marketing method. Its most recent notable stunt has been to partner with Italian fashion mogul John Richmond to release an NFT-themed fashion collection.

As part of this deal, the meme currency has also secured advertisements throughout Milan, thanks to the cooperation of the Milan City Council.

While all exposure is good exposure in business, this marketing strategy has a glaring Achilles heel: it presents Shiba Inu (SHIB) as an exclusive and expensive pastime for wealthy patrons, much as is the luxury fashion of John Richmond. The average investor may be turned away by this, as they may believe that this project is not targeted at them.

Floki Inu: Falling back on Formulae

Floki Inu (FLOKI) is a meme token ecosystem developed in a similar fashion to the aforementioned Shiba Inu (SHIB). This small-scale project has big plans for the future, with an online educational platform and a custom Metaverse space looming large in the roadmap.

Marketing such a coin has its difficulties. For one thing, it’s debatable whether the average observer would even be able to tell Floki Inu (FLOKI) apart from Shiba Inu (SHIB). However, that hasn’t stopped the FLOKI team from doing their best.

Floki Inu (FLOKI) attempted to make a name for itself by installing adverts on London’s public transport networks – on the walls of underground train platforms and on the sides of buses.

However, while this is a step in the right direction compared to Shiba Inu (SHIB), which failed to grasp the need for mainstream appeal, it is intrinsically flawed: by their very nature, adverts on public transport are seen for a very short time, leaving little room for creativity in marketing.

The campaign can be summed up as simply placing the logo and a brief sentence about Floki Inu (FLOKI) in places that won’t be seen for more than a few seconds each by most passers-by.

Big Eyes Coin: Times Square Takeover

The rapidly growing meme currency Big Eyes Coin (BIG) has taken a radical approach compared to Shiba Inu (SHIB) or Floki Inu (FLOKI).

This Meme Coin has dedicated 5% of its total token supply to a wallet dedicated solely to covering marketing and advertising costs, showing how seriously the team behind Big Eyes Coin (BIG) takes the promotion of their project.

The token’s mascot, Big Eyes the cat, was recently featured in a 3D animation broadcast on a major digital billboard in New York City’s Times Square. Featured alongside major international brands and with a location that is viewed by an immense amount of traffic, this stunt is a massive step forward in the marketing of this up-and-coming currency.

This marketing campaign would be impressive on its own, but it is not the only effort the team behind Big Eyes is making to push this coin to its limit and beyond. The communications team of Big Eyes Coin (BIG) have been in touch with high-profile online cryptocurrency publications and websites, such as coinmarketcap.com, with the aim of listing Big Eyes Coin (BIG) banners in the site’s advertising slots.

Similarly, the team is also in the process of adding BIG advertising to mobile and web browser games, from popular platforms like Miniclip and Newgrounds. Big things are in store for Big Eyes Coin (BIG).

If you’d like to find out more about this exciting project, make sure you click the image below to be directed to a short YouTube video about Big Eyes Coin (BIG).

If you’d like to get hold of some Big Eyes Coin (BIG) for yourself, or learn more about the currency and its philosophies, check out the links below the article. For a limited time only, you can use a promo code to claim additional BIG when buying tokens in the presale. Don’t miss out – use the code: BIGE068

Big Eyes Coin (BIG)

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

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.

November 18, 2022
MoonXBT Prepares Proof of Reserve Disclosure in Spite of Being Constantly Audited by SERC
MoonXBT, the leading crypto social trading exchange, is preparing to show proof of reserves in the next couple of weeks in the effort to enhance user confidence together with the industry.

“Security and user confidence are two founding stones of the crypto industry,” says Jack, CEO of MoonXBT. According to Jack, MoonXBT is regulated by Securities and Exchange Regulator of Cambodia (SERC) which means it has enough reserves to meet the SERC requirement and to fulfil customer withdrawals at any time in any amount.

However, it is important to synchronise with the industry to jointly rebuild user confidence. “It seems to have become a consensus for centralised exchange to unveil Merkle Tree proof of reserves. If that’s what’s ought to be done, we are gonna do it as soon as possible,” says Jack.

Proof of reserves, especially the Merkle tree proof of reserve has emerged as a way to showcase asset safety and transparency to prevent contagious fear of users after liquidity crunch has occurred at FTX, the second largest centralised crypto exchange.

Showing the proof of reserves was first led by Binance who has already shared its wallet balances and says it plans to conduct a proof-of-reserves snapshot “in the next few weeks.” Other exchanges such as Gate.io, KuCoin, Poloniex, Bitget, Huobi, OKX, Deribit and Bybit have followed.

While preparing the proof of reserve disclosure, MoonXBT has also published a total of 500,000 USDT special fund for the traders affected by the FTX incident including agents, KOLs, users, etc.. Those who have suffered losses exceeding a certain amount at FTX can receive the help fund from MoonXBT every month for six consecutive months.

MoonXBT has always been vocal in asset safety and has always put the users’ interests first. As a direct partner of the Cambodian government, MoonXBT has been examined thoroughly by the top financial enforcement branch. MoonXBT has met the SERC’s standard of the holding reserve and risk management requirement to handle emergency withdrawals or even liquidity crunch.

Moreover, MoonXBT has worked with the industry leading crypto security company Fireblocks as its asset custodian. Not only does Fireblocks provide a technological solution to provide bank-level security to users’ private keys, it also oversees MoonXBT’s asset transfers. The platform has never made any “accidentally wrong” transfers to other corporate accounts, nor has it used users’ funds as any form of collateral to conduct DeFi activities.

On top of the above, ever since its founding, MoonXBT has guaranteed smooth daily operations and never halted customer withdrawals for any reason.

According to Jack, regardless of the FTX emergency, MoonXBT always follows the strict protocols to ensure the asset safety of the users. “But hopefully showing the proof of reserves can help the users to pick up the confidence sooner,” says Jack.

For more information, please visit https://www.moonxbt.com/

Follow MoonXBT for more updates:
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November 18, 2022