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  • CryptoGames – Learn how the Eminent Online Crypto Casino has set a Benchmark in the Online Crypto Industry

    CryptoGames – Learn how the Eminent Online Crypto Casino has set a Benchmark in the Online Crypto Industry

    Technology has made massive strides and changed every sector of life dramatically including the entertainment industry. This change in the entertainment industry has massively altered the gambling sector where it raised and piqued the interests of a lot of people, both from the gambling and the non-gambling world. The integration of cutting-edge technologies such as Blockchain and cryptocurrencies in the online entertainment industry has led to the creation of online casinos. Countless gamblers from all over the world have flocked to these online casinos to partake in their favorite gambling activity all from the comfort of their home. This sudden rise of online casinos has completely changed the infrastructure of the gambling world and reinvigorated the entertainment industry. The use of cryptocurrencies in the online gambling industry has led to the creation of a whole world of different opportunities that people could only dream of existing. Cryptocurrency has a more flexible financial option in the online gambling sector as opposed to fiat currency. All of these changes in the gambling world has given birth to a lot of online casinos that grew more prominent over time. As the years rolled the number of online casinos kept on increasing. Unfortunately, most of these casinos failed to provide quality service to its users. These casinos had brittle security protocols, horrendous transaction options, poor options of games, and a bad community that led to an unhealthy environment of gambling. The elite online casino CryptoGames recognizes this dire situation, which is why they have pledged to provide quality services that will pave the way for online casinos and completely change the gambling industry.

    CryptoGames always stays ahead with their top-notch features

    CryptoGames has continued to maintain a dominant position in the world of gambling with their mesmerizing services that have attracted gamblers and led to the creation of a community of users that remain loyal to CryptoGames and are extremely fond of the casino. CryptoGames is operated by a team of trained professionals that possess the necessary skills required to maintain a gargantuan gambling site with a constant influx of ardent gamblers. The moderators and operators of the site are extremely friendly and always available to help the community with any queries, complaints, and feedback that they might have.

    The casino is equipped with numerous effective security protocols that provide unbreakable security to the users’ funds. The deposit and withdrawal options make the financial transactions flawless and effortless. Unlike other casinos that bombard their users with a horde of games, CryptoGames hosts 8 old school games that are widely popular among the veteran gamblers and which also attracts the novice gamblers. The games also come with their own set of detailed tutorials that help the users master the game quickly. CryptoGames also holds lucrative monthly wagering contests that create a healthy competitive atmosphere and creates an exciting user experience for the fervent gamblers. All of these services contribute to CryptoGames maintaining a dominating position in the gambling industry.

    CryptoGames provides the ultimate security to user funds through numerous security protocols

    The current boom of the online casino has attracted the eyes of malicious hackers and attackers that try to take advantage and prey on any casinos that have feeble security. An online casino with poor security will inevitably lose its users’ prized and invaluable funds to these atrocious hackers and attackers. A gambling site that wishes to protect user funds must take proper security measures strong enough to block the attacks of the hackers.

    CryptoGames prides itself on its state-of-the-art security protocols that provide unbreachable security to users’ cryptocurrencies. The use of Two-factor authentication and site wide SSL encryption adds an almost unbreakable layer of security that prevents a hacker from gaining access to user information. Even if hackers manage to get into user accounts, they would be unable to withdraw any cryptocurrencies as email verification is always required for withdrawals. User cryptocurrencies are stored in cold wallets, so even if the casino is under seize, they won’t have access to the funds, leaving the hackers empty handed. CryptoGames has taken all of the necessary and crucial security measures needed to provide maximum account security to users’ cryptocurrencies.

    Enjoy flawless and easy deposit and withdrawal options

    The elite gambling site CryptoGames integrated a wide array of measures to provide efficient and smooth financial transactions to its users. CryptoGames has given its users a myriad of options when it comes to depositing and withdrawing cryptocurrencies. Users can make deposits and withdrawals through 10 different cryptocurrencies. CryptoGames supports – Bitcoin, Dogecoin, Ethereum, Litecoin, Dash, Gas, Monero, Stratis, Bitcoin Cash, and Ethereum Classic. CryptoGames also has a test currency called “Play Money” that allows users to test out and master different strategies in the games without risking their own funds.

    CryptoGames also supports a wide assortment of altcoins with the integration of “CoinSwitch” that automatically converts the users’ altcoins to any one of the 10 supported cryptocurrencies. Users can also withdraw the currencies to any of the altcoins they choose by using “CoinSwitch”. All of these ensure a consistent and swift financial transaction and saves users valuable time that they can now spend on their favorite gambling activity.

    Participate in exclusive promotions, lucrative events, and enjoy cool incentives at CryptoGames

    The elite gambling site CryptoGames hosts a multitude of exciting promotions and events throughout the year that lifts the spirits of users. These events give the user a wonderful opportunity to win loads of free coins, voucher codes, lottery tickets, and other lucrative rewards. During festive events like Halloween and Christmas, CryptoGames gives out coins and lottery tickets to its users and hosts numerous custom games. Daily events are held which are some fun tasks that rewards users for being the first to complete. The casino hosts a special “No Bet Speed Limit” event every Monday, which the gamblers can exploit to collect even more coins and rewards as a larger number of bets per second can be placed during this special day. Mondays have become a lot more exciting.

    CryptoGames has a cool incentive called “Faucet” that hands out free coins to players that can be used to test different strategies. These “free-coins” allow the users to play games without any worry and help them to implement different techniques that make them better players. Players with a high-level faucet can claim more rewards than those with lower-level faucets. A player has to complete a certain set of tasks to be able to level up their faucet. A maximum number of 6,150 Satoshi can be claimed at the highest faucet level.

    Furthermore, CryptoGames has another rewarding called “Rain” that rewards its users with free coins for their contribution to the community. This is a special feature of chatbox and helps to create a friendly atmosphere as gamblers are rewarded for being kind and helpful to each other. The casino has created a smart system that can detect spammers and thus only rewards friendly gamblers accordingly.

    Finally, there are games with enormous bitcoin and altcoin jackpots that any gambler would love to win! Currently, the games of bitcoin dice and roulette have progressive jackpots that are the center of attention for all ardent gamblers. The bitcoin dice jackpot currently stands at a mind-boggling amount of 3.778 BTC waiting to be snatched by one lucky player.

    Partake in CryptoGames thrilling monthly wagering contests

    People are competitive by nature and CryptoGames creates a healthy competitive atmosphere by holding monthly wagering contests. These monthly wagering contests are extremely popular among fervent gamblers and becomes a battleground for gamblers to participate and show off their skills as they rise to the top of the leaderboards. These contests are where the veteran and novice gamblers battle it out for the ultimate prize. After a month-long battle, winners are crowned at the end of the month and are hailed as champions of the month. The champions are rewarded with lucrative prizes and the highly desired VIP tags that grant exclusive access to site-wide features. The tags last till the start of the next wagering contest allowing users to enjoy and boast about their spoils to other gamblers. The following is a list of rewards given to the top players of the leader board which may be subject to future change:

    • Bitcoin: Top players on the leaderboard are awarded a total of 5 prizes that sum up to 18.5 BCH.
    • BitcoinCash: 3.84 and 828 lotto tickets are distributed among the top 10 winners.
    • Dash: Top 5 players on the leaderboard are given a total of 18.50 DASH.
    • Dogecoin: 975,000.00 DOGE and 320 lotto tickets are distributed among the top 5 players on the leaderboard.
    • Ethereum: 21.80 ETH and 828 lotto tickets are distributed among the top 10 winners.
    • Ethereumclassic: 185.00 ETC is distributed among the top 5 players on the leaderboard.
    • Litecoin: 42.50 LTC total bonuses and 790 lotto tickets are distributed among the top 7 players on the leaderboard.
    • Monero – 23.30 XMR total bonuses distributed among the top 5 players on the leaderboard.
    • NeoGas: 290.00 GAS total bonuses are distributed among the top 10 players on the leaderboard.
    • Stratis: 1,155.00 STRAT total bonuses are distributed among the top 5 players based on their position on the leaderboard.

    Dive into a world of blissful gambling with CryptoGames

    In the world of gambling, the only commodity other than cryptocurrency that is invaluable to a gambler is time. A gambler must make the perfect use of time if he wants to live up to his full gambling potential. Every minute wasted in trivial matters leads to the wasted opportunity of earning cryptocurrencies. Keeping this in mind a gambler needs to choose an online casino that will help them realize their true potential and make the experience of gambling enjoyable. The elite gambling site CryptoGames excels here as it assists gamblers into making the best use of their time and savor top-notch entertainment in the process. Its simplistic and user-friendly interface makes browsing through the site a pleasant experience for gamblers. Secure and smooth deposit and withdrawal options enable a swift and constant flow of cryptocurrency. Unbreachable security protocols protect user funds even in the worst-case scenarios. The monthly wagering contests fulfill the desire of users by creating a healthy competitive atmosphere and provide players with excellent opportunities to win free coins. All of these services allow CryptoGames to maintain a dominating position in the industry and create a community of faithful gamblers that enjoy the services provided by the casino for years to come. The casino has also taken important steps to make sure that users are gambling safely and responsibly. CryptoGames has included a “Self-Exclude” feature that will lock the account of a user for a while if they feel like they are spending too much time gambling. Support is always available for users for any queries or issues they might have. Become a part of this phenomenal online casino and enjoy the world of gambling in all its glory!

    Links of interest

  • Top 3 Coins to Watch – Week 34

    Top 3 Coins to Watch – Week 34

    It’s already Week 34 of 2020 and we are back with another selection of top 3 cryptocurrency projects that have the greatest potential for major product improvements and/or price movements. This week, the world’s first crypto tops our list again.

    coins-to-watch-week-34-bitcoin

    1. Bitcoin (BTC)

    Although we believe that Bitcoin doesn’t need much introduction, here is a quick summary of important information. The world’s pioneer cryptocurrency was launched by a pseudonymous figure named Satoshi Nakamoto in 2009 and has a capped supply of 21 million coins. The decreasing miner block rewards makes the cryptocurrency scarcer with time, ensuring a deflationary nature.

    Buy/Sell BTC

    Several reasons to Why You Should Keep an Eye on Bitcoin this Week

    Bitcoin has challenged the $12,000 resistance level three times in a month. A few times the price even went past $12,000, at least on some exchanges, but the price increase was short-lived, and Bitcoin always quickly returned to sub $12,000 levels. On August 17, however, Bitcoin surged above $12,000 with greater confidence, indicating a higher likelihood that the price will stay in this range for a longer period. Furthermore, the price of Bitcoin has et a new high in more than a year by surpassing its valuation from July 10, 2019.

    Nevertheless, Bitcoin dominance is lower that what we are used to. In fact, the growing popularity of altcoins, especially those from the DeFi sector has pushed BTC dominance under 60%. With BTC dominance currently at 58.3%, Bitcoin’s market share has reached the lowest percentage since June 2019. However, if (or should we say when), the altcoin season comes to an end, investors will likely flee to stablecoins (USDT) and Bitcoin. Even in case of an overall bearish market, Bitcoin would probably lose some of its USD denominated value, but it would strengthen its position among other cryptocurrency and again increase its dominance. Some analysts believe that such a readjustment might even be a necessary step before Bitcoin can reach towards a new ATH price.

    Another argument indicating that the bullish trend might continue over the course of a few more weeks is the correlation with traditional markets. While Bitcoin’s price has been largely independent prior to March 2020, it has since been showing a higher correlation with the S&P 500 index, gold and stock markets in general. And the stock market is not cooling off just yet, in fact many indexes are nearing their ATHs, likely due to trillions of USD being pumped into the system by governments all over the world.

    Furthermore, Bitcoin is getting recognized as a great hedge against inflation by individual investors as well as several big players in the financial industry.

    According to TradingView, Bitcoin and Tesla’s Stock (TSLA) are two of the most viewed assets by the US investors and cryptocurrencies are especially popular in the West Coast states of California, Washington, and Oregon. A similar insight was shared by Binance CEO Changpeng Zhao, who tweeted:

    Naturally, investors are not only viewing the assets, but many of them who are taking an interest into Bitcoin are also investing. Grayscale, the biggest cryptocurrency asset manager, has recently aired a TV commercial advertising its cryptocurrency products. The 30-second  TV ad reportedly resulted in more than $217 million poured into Grayscale’s Crypto Trusts.

    Even the very vocal Bitcoin critic and a well-known investor Warren Buffet appears to have shifted his investment strategy. After years of downplaying the value of gold, Bitcoin and other stores of value, while boasting about the banks’ future prospects at the same time, he has gone completely against his investment mindset in Q2, as his Berkshire Hathaway has sold pretty much all of its bank stocks and increased its exposure to gold.

    Given the trillions that have been printed as a result of the COVID-19 pandemic, his analysts must have figured out the obvious – that the inflation is inevitable. Then someone from his team likely suggested that gold is a great inflation hedge asset to put in your portfolio, so that is what Buffett did, despite it being completely against his values. Anthony Pompliano  wrote:

    “In fact, the most technologically innovative business that Berkshire is invested in (Apple) has been their best performer — shocker! When your portfolio is being crushed this bad, it forces people to re-evaluate their strongest held beliefs.”

    But guess which other asset is a hedge against inflation? Yep, you guessed it – Bitcoin! Just ask Paul Tudor Jones, Pompliano noted:

    “Warren Buffett and Berkshire Hathaway have chosen to gain exposure to gold in the face of potential inflation and Paul Tudor Jones chose to get exposure to Bitcoin because it is likely to be the “fastest horse.” So what exactly is the difference between gold investors and Bitcoin holders?”

    Last but not least, business intelligence company MicroStrategy has recently announced that it had invested $250 million into Bitcoin as a hedge considering the current macroeconomic landscape. The firm cited financial stimulus programs and quantitative easing as some of the factors that led to its big bet on BTC.

    coins-to-watch-week-34-tron

    2. Tron (TRX)

    TRON is a project that aims to develop a free content entertainment platform that would utilize the blockchain and distributed storage technology. TRON users are able to easily publish, store, and own data, while subscription and content distribution is handled by the decentralized system.

    Buy/Sell TRX

    TRON to Launch JustSwap DEX This Week

    This week, the Tron Foundation is set to strengthen its push into DeFi waters with the launch of its JustSwap DEX on August 18. JustSwap will feature TRC20 token trading while also allowing users to earn trading fees and mining rewards. Additionally, TRX holders will be able to take out USDJ loans using their TRX tokens as a collateral. The roll-out of the JustSwap DEX is a very important event for the TRON network that could have significant effects on its ecosystem.

    coins-to-watch-week-34-swipe

    3. Swipe (SXP)

    Swipe is a crypto debit card issuer that allows its users to easily spent their cryptocurrencies for everyday purchases. The Swipe Token is the project’s utility token.

    Buy/Sell SXP

    Multiple Airdrops Scheduled for This Week

    SXP holders will be able to benefit from a Swipe Governance Token (SGV) airdrop that is scheduled for this week. The Swipe’s team will distribute 1 SGV for every 100 SXP owned on August 17, 00:00 UTC.

    The airdrops go both ways, though. Following an acquisition by Binance, the company is also going be airdropping $16,000,000 worth of SXP Tokens to holders of the exchange’s native BNB token. The tokens will be delivered on a weekly basis with the first batch of 4,000,000 SXP going out to BNB holders who keep their tokens on Binance already on August 17. Binance describes the details of the airdrop program here. Additionally, Swipe has recently conducted its 2nd quarterly token burn, which saw 215,817 SXP tokens ($396,120) destroyed.

  • Ethereum Delivers Medalla: What’s Next?

    Ethereum Delivers Medalla: What’s Next?

    Key Highlights:

    • The Ethereum foundation has launched Medalla, one last testnet before Eth2
    • After transitioning to Eth2, Ethereum miners will turn into validators… if they can
    • The price of the coin has been showing encouraging action over the summer, what’s next?

    In the afterlife of Eth2, also known as Serenity, we will be witnessing such epic features as Sharding, PoS and as Vitalik Buterin has put it, “an opportunity to participate in the network at all scales”. This means that a regular user will be able to validate. No professional mining and staking farm needed, no tons of electricity spent, just enough money in your account. The minimum threshold is 32 Ether.

    Let’s examine the Medalla testnet, future Ethereum validators and the current price action in detail.

    Why Medalla is important

    The road leading to Serenity, the new state of Ethereum, isn’t so bumpy as it’s long. In order to reach this state, the developers will need to roll out phases 0, 1 and 2 throughout the years to come.

    Medalla has definitely pushed us closer to phase 0, that’s why everybody was so pumped not only about the switch but also the price of the asset.

    When developers make sure the final multi-client public testnet is safe and sound to run, they will switch to the Beacon Chain, an important part of the whole Eth2.

    This chain will manage the PoS consensus, including validators and shards. And shards, in turn, are a key feature of the new protocol since not only do they store their state, but also improve the overall transaction throughput.

    So in phase 0, we will already have the Beacon Chain implemented. Using manifold testnets, the Ethereum devteam has already tried its features and functionality, but with Medalla, the whole world can participate in the test.

    Let’s have a peek at the roadmap that was leading us to the Eth2 state and those latest testnets.

    The road to Medalla

    The Ethereum devteam has been working on the switch to the Serenity state for quite some time now. In Vitalik Buterin’s words, such a switch appeared on the agenda from the very beginning.

    But everything started from the Frontier phase (2014-2015), the earliest implementation of Ethereum that culminated in the finished product going live in 2015.

    The next one was Homestead (2016-2017), the phase to stabilize the network, and then Metropolis, the phase (2017-2020) preparing us for Serenity, followed.

    This very last phase was all about security updates, a larger automation degree and of course testnets to run the Beacon Chain functionality. Let’s catch a glimpse of those testnets.

    The Beacon Chain in miniature saw the light for the first time on the Sapphire testnet in April 2020. The nodes used small deposits of 3.2 Ether.

    The Topaz network appeared in May with nodes using 32 Ether. Later, in June, the Onyx testnet gathered around 20,000 validators, and Altona was running steadily in July, and then, Medalla popped up.

    So, what’s your role in this new play?

    Miners or validators?

    As you know, with the Proof-of-Work algorithm, miners spend a lot of energy to solve difficult puzzles.

    With Proof-of-Stake, there will be no place for miners, but there will be validators who put bets on potential blocks and get rewarded in accordance with the staked money.

    How much money will the validators make? It all depends on the total amount of Ether at stake.

    eth-return-rate

    The more Ethereum in the ecosystem is at stake (see column 1), the less annual return the miners will get (column 4), and vice versa. However, the total amount of the minted coins (columns 2, 3) will increase in proportion with the amount of Ether at stake.

    As a future validator, however, you should be aware of the fact that you might be given a ticket, too, for inadvertent and malicious actions.

    The Ethereum price matters

    Essentially, the launch of Medalla signified an important shift, which already had an impact on the price of the asset.

    It’s not financial advance, however, take a closer look at the way Ether has been acting over the past few months.

    Several things factor in the bullish trend, including DeFi growth, the altcoin season flourishing and of course the ETH 2.0 momentum.

    So keep your eye on Vitalik’s coin because it might be interesting to watch in the next few weeks.

  • Top 3 Coins to Watch – Week 33

    Top 3 Coins to Watch – Week 33

    Several cryptocurrency projects are set to meet their developmental milestones this week, thereby looking to increase the usability, security, adoption and, finally, valuation of their respective tokens. With the hype over Ethereum 2.0 cooling off a bit, this week’s selection of top 3 coins to watch focuses on trading and data oracle associated tokens.

    1. ChainLink (LINK)

    ChainLink is a distributed ledger technology (DLT) company focusing on providing input and output data for smart contracts, as they cannot connect to real world data on their own. ChainLink provides a reliable and end-to-end secured connection to external data by establishing its own price oracles and data oracles. Oracles are the data that is fed into a smart contract from a source outside the contract and they are crucial for contract’s operation.

    Buy/Sell LINK

    LINK Skyrockets After Being Called a “Pump-and-Dump” Scheme

    Despite the fact that Zeus Capital called ChainLink a fraud, saying it is the “Wirecard of Crypto” in July, LINK has managed to defy the general downtrend, that has prevailed in the crypto markets over the weekend.

    Even more, ChainLink is currently trading at $13.6, with the price up by 6.3% in the past 24 hours. The 7-day price growth of almost 60% is even more astonishing. In addition, LINK set its new all-time high of $14.25 on August 9. If LINK will be able sustain this growth, the cryptocurrency will overtake Bitcoin Cash and become the 5th largest crypto by the end of this month. Some say that the LINK price rally was triggered by the project’s supporters in response to the accusations made by Zeus Capital.

    2. Switcheo (SWTH)

    Switcheo Network is a decentralized exchange (DEX) platform, which aims to provide a top-notch trading experience, while remaining trustless and completely decentralized at the same time. The DEX that supports the trading of Ethereum, NEO, and EOS-based digital assets is currently entrusted by roughly 43,000 traders.

    Buy/Sell SWTH

    The Launch of Switcheo TradeHub Will Bring SWTH Staking

    Switcheo Network is preparing to roll-out SWTH staking in its TradeHub feature, that is scheduled to go live on August 12. The rewards system, which is set to incentivise early staking, will allow holders who join a staking pool or delegate their SWTH to a validator node in Week 0 to benefit from the 1.92% weekly reward. You can read more about the SWTH staking process and the reward system here.

    3. Digitex Futures (DGTX)

    Digitex Futures Exchange is the world’s first high-liquidity zero-fee futures trading platform. The exchange allows users to buy and sell futures contracts on various digital assets, commodities and financial instruments using the native DGTX token. The potential profits or loses of the trades are also accounted in DGTX, which is where the token’s value derives from.

    Buy/Sell DGTX

    Digitex’s Next Update Will Allow the Use of Automated Trading Algorithms

    While not a lot of time has passed since Digitex’s public launch earlier this year, the team is already looking to deploy additional improvements to their platform. In a upgrade, scheduled for this week, Digitex plans to integrate their new trading API that will allow users to trade using automatic trading algorithms, more commonly referred as “trading bots”. In addition, the futured exchange plans to launch the ETH/USD futures market this month and expand their products to traditional futures such as oil, gold, and the S&P 500 futures later in Q3. The project’s roadmap for the rest of 2020 is outlined here.

  • The Who, What, Why and Where of Bitcoin

    The Who, What, Why and Where of Bitcoin

    WHO

    It is hard to believe how much time has passed since the futuristic currency phenomenon was born, but it has been 12 years! It was back in 2008 that the entity Satoshi Nakamoto first created Bitcoin. Entity, due to the fact that the identity of Bitcoin’s real creator remains a mystery to this day. There have been several speculations, including Hal Finney( the first person to make a bitcoin transaction) and Craig Wright ( a computer scientist who claimed to be the founder). Both have been generally denied by crypto communities and press.

    WHAT

    Bitcoin is a digital currency, and unlike traditional currency, there are no physical notes correlated with each bitcoin, but a massive amount of data and balances provided publicly for maximum transparency. Bitcoin is a collection of computers that essentially run all the code and stores it in a blockchain. Financial freedom and security are the names of the game, and Bitcoin enables users to transfer amounts of money without monitorization. While probably created for good, Bitcoin quickly caught the attention of the Darker side of commerce, namely the Dark web. It was here that Bitcoin quickly gained a somewhat negative reputation for enabling people to buy guns, drugs, and other illegal activities without being traced. In the last few years though, bitcoin is cleaning up its act. Bitcoin is now accepted in the travel, eCommerce and real estate industry offering numerous advantages. The online gaming world has seen a huge spike in bitcoin use, with bitcoin poker players leading the way.

    WHY

    Following the 2008 financial crisis, traditional currency suffered. Almost overnight, trillions of dollars were lost, economies tanked and people lost their life savings because they trusted banks. Cryptocurrency aimed to place more power in the hands of the people. There would be more transparency and less of the banks pulling the wool over people’s eyes so the rich could get ahead. Bitcoin wanted to give freedom and security to anyone who wanted it.

    WHERE

    Much like the identity of the creator the original location of where Bitcoin was created is also a mystery. Very fitting for the nature of the currency. However, I can tell you that there are cities all over the world using bitcoin more and more. Unsurprisingly tech capital San Francisco widely accepts the use of Bitcoin in shops, cafes and restaurants. The Californian city is also home to some of the biggest crypto trading platforms in the world- Kraken and Coinbase. Across the pond, you will find that your digital shekels are widely accepted in Amsterdam, also a crypto industry capitol. In fact, you will find most tech-savvy cities to be in the know with Bitcoin.

    The bottom Line

    Shrouded in mystery, Bitcoin has made vast inroads into being accepted as a currency in modern society. It has overcome many obstacles in the last 12 years, and with the growth of the crypto industry as well as other cryptocurrencies, it is safe to say that Bitcoin is here to stay.

  • Trading volumes on crypto exchanges have doubled in July

    Trading volumes on crypto exchanges have doubled in July

    The July trading volumes on the CEX.IO cryptocurrency exchange have grown twice compared to June 2020. A major reason for the growth is the increased interest of market participants in ETH – in particular, because of DeFi and the imminent release of Ethereum 2.0. Now ETH is a growth driver, and it is pulling other cryptocurrencies, like BTC, in particular, up.

    Starting around July 20th, trading volumes on CEX.IO have increased several times after a relatively long lull, reaching the levels of May 2020.

    cexio-trading-volume
    Trading volumes of all cryptocurrency pairs on CEX.IO

    Usually, the share of the BTC/USD pair in the total exchange volume is about 40%, but over the past few days, it was only about 20%. The rest of the volume was provided by other pairs. In particular, volumes of ETH pairs increased several times. During the week of July 20-26, the average daily ETH turnover on the exchange was 3 times higher than the average daily ETH turnover in June.

    eth-pairs-trading-volume
    Volume of cryptocurrency trading pairs with ETH. The Y axis shows how higher (in percentage) the ETH turnover was on a particular day, compared to the average daily ETH turnover in June 2020. The peak was on July 23rd – at 430%.

    It is safe to say that ETH is now the driver of the cryptocurrency market growth.

    On average, the balance of BTC and ETH deposits and withdrawals on CEX.IO has been preserved. Sometimes there is a noticeable bias towards BTC input and ETH withdrawal. This indicates either an increased demand for buying ETH or active arbitrage strategies of traders.

    Bitcoin forecast and other reasons for growth

    Bitcoin reached the $12,000 mark for the first time since the beginning of the year, but couldn’t hold the position and rolled back. Such movement of the main cryptocurrency was fairly predictable. If you follow the charts of the coin’s dynamics, you can see that the bullish trend has formed 50 days ago. The cryptocurrency has been gradually going upward, passing one level after another.

    In addition, other factors also contributed to Bitcoin’s growth. The main among them is the rapid rise in gold prices. And although many experts believe that gold and BTC are not correlated, this is not the case. Bitcoin is called “digital gold” for a reason. As soon as the cost of a troy ounce of gold passed the $1,900 mark, the price of Bitcoin went up sharply.

    The strengthening of the Bitcoin rate was also facilitated by the increase in the US dollar emission. Just recently, the US government announced that it is preparing a new bill aimed at overcoming the consequences of the coronavirus pandemic, which includes a number of anti-crisis measures, such as additional dollar emission and issuance of support payments of $1,200 per person. Factually, passing the bill will result in trillions of cheap dollars being released onto the market. Issuing checks for this amount will stimulate cryptocurrency buyers. Last time, in April-May of this year, the purchase level of cryptocurrencies in the amount of $1,200 went up sharply. This means that Americans are increasingly thinking about alternative sources of investment, and cryptocurrencies are one of them.

    The price has tested resistance around the $10,500 level several times since the beginning of 2020.

    btc-price
    BTC Price
  • LocalBitcoins Lose The Leadership Of Popular Bitcoin Marketplaces

    LocalBitcoins Lose The Leadership Of Popular Bitcoin Marketplaces

    LocalBitcoins is steadily losing its leadership in the peer-to-peer crypto platforms market. However, the p2p market itself remains controversial in terms of regulatory constraints. The popular p2p platform for trading cryptocurrency Bitcoin for the first time lost its leadership to the Paxful platform, its main competitor. According to analytical web portals, the Bitcoin trading volume on the LocalBitcoins site has continued to fall since October 2017, while the trading volume on Paxful has been actively gaining momentum since 2016.

    True, it should be noted that the LocalBitcoins platform was able to significantly break away from its competitor in 2017, when the monthly trading volume exceeded $ 120 million. But the introduction of user verification procedures is increasingly discouraging customers from the exchange. LocalBitcoins now have a monthly trading volume of just under 40 million, while Paxful has already crossed that mark.

    Marketplaces like LocalBitcoins and Paxful are especially popular in countries where cryptocurrency regulation remains “in limbo” and such countries become leaders in terms of Bitcoin trading volume on LocalBitcoins, even though there is no industry regulation. Due to the ambiguity of the position of government regulators and the fear of blocking bank accounts, small traders or even ordinary hodlers often have to apply for the services of p2p sites.

    Exchanges shut off oxygen to users

    Despite the fact that such services are often at the center of scandals related to money laundering and charges of financing terrorism, these marketplaces have long established themselves as an alternative to conventional exchanges and exchangers due to their greater simplicity, democracy, competitive commission rates, and most importantly due to anonymity, which provides greater security for transactions.

    So, the main reason why LocalBitcoins is steadily losing market leadership is regulation by Finnish overseers, the country where LocalBitcoins is based. Tighter control over the site has forced the introduction of stricter requirements for the KYC procedure. In June 2019, for example, LocalBitcoins turned off, perhaps, one of the main services – the sale of cryptocurrency from hand to hand.

    The main LocalBitcoins competitor Paxful claims on its official website that the platform strives to give everyone the opportunity to quickly, honestly and safely transfer their earnings to other assets. Often, our biggest concerns are with money, especially making and sending it. When the marketplace provides people with new opportunities, creating the international financial platform of the future, then it is undoubtedly gaining momentum and ahead of the competition.

    At the same time, the site is subject to regulatory restrictions, however, the same as LocalBitcoins. Confirmation of the country of residence and additional ID verification will become mandatory for everyone who is there is a bit of money for more than 20,000 euros per year. The new system provides four levels of accounts, differing in volume we are trading. In the same year, LocalBitcoins removed the opportunity for their users to make transactions with personal money when the site without a trace disappeared the option that allows you to buy or sell cryptocurrency by meeting. These new introductions on LocalBitcoins are in line with the Finnish law on the provision of virtual services, related to virtual currencies, which entered into force in November 2019.

    Most crypto experts believe that only the highest grade of KYC – Account Tier 3, the need for which occurs when the total turnover of the account exceeds € 200,000. With such a turnover of transactions with cryptocurrency, for verification, add additional documents to confirm the origin of Bitcoins, as well as certificates of taxes payment. According to the company representatives, this measure is necessary and aimed at protecting against fraudsters, but in fact, it can become, on the contrary, an auxiliary tool for cybercriminals.

    There is a way out of risky position – mix your cryptocurrency

    To protect yourself and your crypto assets from the risks associated with providing crypto exchanges with complete information about yourself and your income, you need to prevent the possibility of further tracking the movement of your digital funds after they are withdrawn from the exchanging platforms.

    This can be done using a cryptocurrency mixer. Service mixes the same type of coins belonging to different users, pre-dividing whole transactions into a great deal of smaller ones. Good service has a large pool of mixed coins that allows you to mix coins instantly.

    Bitcoin mixer like BitMix.Biz offers its users the largest pool of prepared Bitcoins, Litecoins and Dash, so even when mixing large amounts there will be no difficulty. In addition, it is worth clearing a large number of your digital coins on BitMix.Biz, since the security of your money is ensured by a guarantee deposit of 15,000 US dollars on various crypto forums.

    The authenticity of the Bitcoin addresses of the BitMix.Biz cryptocurrency mixer is confirmed by a key that you will receive and can check in a letter of guarantee when sending your coins to clean up traces of ownership. You can also find many reviews and testimonials from many crypto enthusiasts who have repeatedly and successfully used the service over several years
    of its operation.

    The BitMix.Biz interface can be used in any of the 10 presented languages so that you have a very clear understanding of each option. Delayed withdrawal options, the choice of the collection rate from 0.4%, increased randomization, as well as the ability to instantly delete information about the performed mixing transaction, guarantee the effectiveness of clearing
    crypto money from data that could lead cyber intruders and spies to your digital assets.

    To increase your security, recommend using the Tor network or browser without JavaScript. You can use the API key on your e-commerce site to provide your users with financial security, and you can also earn additional income through an affiliate reward program.

    Website: https://bitmix.biz/en
    FAQ: https://bitmix.biz/en/pages/faq

  • Bitcoin Price Analysis – Bitcoin Bulls Reawaken After Short Retracement. Will We Break $12,000 Next?

    Bitcoin Price Analysis – Bitcoin Bulls Reawaken After Short Retracement. Will We Break $12,000 Next?

    Key Highlights

    • Bitcoin saw a further 3.88% price increase today as the coin reached $11,575.
    • The cryptocurrency has been bullish ever since it managed to break above its previous consolidation phase in July 2020.
    • The buyers have defended $11,000 over the weekend and set sights for $12,000.

    Bitcoin saw another 3.88% price increase today as the coin managed to reach $11,575. Bitcoin has been surging ever since it broke above the symmetrical triangle in July 2020. Prior to this, it had been in a phase of consolidation for around 2-months as it failed to break above or below the triangle.

    After breaking above, BTC went on a rampage higher to close the month at a price of $11,358.

    The bullish push higher continued in August as BTC reached a high of $12,126 (1.272 Fib Extension) at the start of the month. The volatility on this day also caused BTC to spike as low as $10,500, however, the bulls quickly grouped up and pushed BTC back above $11,000 and defended the level.

    BTC Pushed higher from $11,000 today as it trades at $11,518 right now.
    The demand for Bitcoin is extremely apparent right now, especially when we consider the fact that the number of new entities within the market which reached the highest level since late-2017. Remember, this was the bull run in which Bitcoin reached its all-time highs;

    This is exciting for Bitcoin as it could be setting up for another explosive bullish run higher toward $13,000 and beyond.

    In other news, it appears that Putin, the president of Russia, has signed the first crypto bill law for “On digital Assets” to make cryptocurrency officially legal in Russia. This law will make all crypto trading legal in Russia but it will not allow crypto to be used as a payment method. The law is expected to come into force on the 1st of January 2020.

    This is great news for Bitcoin as it should help to bring in further investors. The Bitcoin transaction activity has also increased during the lockdown in Russia as the nation becomes the largest market for LocalBitcoins.com.

    Taking a look at the Bitcoin search trend, we can see that there is a spike in BTC searches that almost match the hype generated from the previous BTC block halving event;

    This shows that the recent price increase for Bitcoin has brought it back into the forefront of people’s minds as they search to find out what has been occurring with Bitcoin. As the price for Bitcoin continues to increase, we can expect these search trends to continue further as more people start to hope they can cash in on the epic Bitcoin price increases. The best thing about this is the fact that these searches will spill into the altcoin world as some users might feel they have already missed the BTC increase.

    Lastly, the cryptocurrency mobile payment app Cash App recently released its quarterly revenues. In Q2 2020, Cash App recorded its largest quarterly growth as the company turned over $1.92 billion in revenue;

    What is interesting to note is that half of this revenue is actually generated from the company’s Bitcoin trading service in which it generated $875 million of Bitcoin revenue in which $17 million were profit.

    The release of this quarterly statement has caused Square Shares (SQ) to increase by around $20 each.

    Buy/Sell BTC

    Bitcoin Coin Price Analysis

    BTC/USD – 1 DAY CHART – MEDIUM TERM

    What has been going on?

    Taking a look at the daily chart above for Bitcoin, we can clearly see the breakout of the symmetrical triangle in July. After breaking above, Bitcoin went on to rampage higher as it reached as high as $12,126 in August when it ran into the resistance at a 1.272 Fibonacci Extension level.

    Bitcoin dropped into the support at $11,000 during the first few days of August but the bulls managed to defend the area very well. Bitcoin rebounded from this support today as it reached $11,518.

    Bitcoin price short-term prediction: BULLISH

    After breaking above the consolidation last month, Bitcoin is most certainly bullish in the short term. The coin would have to drop beneath $10,000 to turn neutral and further beneath $8,250 to be in danger of turning bearish in the short term.

    If the sellers do push lower, the first level of support lies at $11,358 (.236 Fib Retracement). Beneath this, support lies at $11,000, $10,877 (.382 Fib Retracement), $10,488 (.4 Fib Retracement), and $10,000.

    Where Is The Resistance Toward The Upside?

    On the other side, if the buyers continue to push BTC higher, the first level of resistance is expected at $11,610. This is then followed by added resistance at $12,000.

    If the bulls continue to push further above $12,000, resistance is then expected at $12,126 (1.272 Fib Extension), $12,400, and $12,471 (1.618 Fib Extension). This is then followed with resistance at $12,606, $12,800, and $13,000.

    If the bulls can drive BTC above $13,000, resistance is then found at $13,332, $12,475, $12,600, and $14,000.

    What Are The Technical Indicators Showing?

    The RSI dropped from overbought conditions earlier in the week. However, it still remains above the 50 line to indicate that the bulls are still in complete control of the market momentum right now. Additionally, the Stochastic RSI produced a bearish crossover signal a few days ago which resulted in Bitcoin falling into $11,000.

    Buy/Sell BTC
  • New Blockchain-Based Gold Fund With Enhanced Returns Over Spot

    New Blockchain-Based Gold Fund With Enhanced Returns Over Spot

    Gold needs no introduction when it comes to investable assets. The precious metal has maintained its stature throughout the ages as a reliable store of value. Even today, the shiny asset remains exceptionally popular, with the World Gold Council reporting that central banks bought a record high of 374 tons this year, further entrenching its status quo. There is no doubt that gold is here to stay for the long-term and arguably has more historical data to supplement this view than any other modern portfolio asset.

    Apart from the use cases in jewelry and industry, the commodity is used by many as a long term store of value and hedge against both the monetary system and its inevitable inflation. Although there are many advocates for owning physical gold, there are proven inefficiencies with this approach from both a pricing and custody perspective. Therefore, a large number of investors have turned to low-cost investment vehicles to professionally manage and safely store their assets.

    With the advent of blockchain technology facilitating the creation of a secure digital version of gold, a plethora of new market opportunities have opened up for the precious metal. The most popular gold-backed tokens represent one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, with the gold safely stored in the world’s most secure vaults. This allows for an incredibly safe and cost-effective way to gain direct exposure to gold. These digital gold-backed tokens are redeemable 1:1 for the underlying and therefore track the price of gold. These tokens behave much like futures contracts, although they are far more efficient as one does not need to re-enter the contract over every few months and therefore experience potential negative roll-yield.

    Invictus Capital is an asset management company that has merged the new age with the old and created the Invictus Gold Plus Fund (IGP). The team at Invictus Capital has revolutionized the fund management process, offering investors a range of unique, tokenized fund offerings with no investment minimums and 24/7 subscription and redemption capabilities.

    The team has a solid track record over the years with award-winning fund offerings. The IGP Fund is the latest addition by Invictus Capital and not only aims to give investors a simple, cost-effective way to gain exposure to gold but has an objective to outperform gold through various investment strategies it has employed through years of experience in the digital asset markets. IGP, therefore, allows the investor to have full gold price exposure while earning a yield on gold over and above the spot price.

    Tokenized funds work much the same way as your traditional mutual funds whereby dealing occurs on a daily basis at a net asset value struck by the team. Investors are therefore able to redeem their holdings for cash, or USD-backed tokens, at any time.

    Gold has a special place in any investment portfolio for investors seeking to build a well-diversified portfolio of assets. Given the current global economic environment of low or negative real interest rates, inflated money supply and increased demand for gold by investors aiming to hedge their portfolios, gold is well-positioned by historical standards to achieve outsized returns.

    For more information on the IGP Fund and how to invest, please visit the Invictus Capital website.