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Tag: Tether

  • How to Buy Stablecoins with Credit Card on Binance in 5 Easy Steps

    How to Buy Stablecoins with Credit Card on Binance in 5 Easy Steps

    Binance cryptocurrency exchange BNB binance cover

    Key Takeaways

    • Stablecoins are important in the crypto market and they come in different classes and offer several benefits
    • It is possible to buy stablecoins with credit cards
    • Binance is one of the best places to buy stablecoins
    • In five simple steps, you can buy stablecoins from Binance with your credit card

    Stablecoins are very important in the cryptocurrency market. They offer a high level of stability in a market that is notoriously volatile. They also bring liquidity and volume to the market. Stablecoins also allow traders to move fast in the crypto market, serving as media to move assets quickly and easily. Regardless of your experience or position in the market, there are many benefits you can derive from stablecoins.

    Are you planning to buy stablecoins anytime soon? Do you know you can do that with a credit card? Yes, credit cards serve as one of the major payment methods to buy crypto, along with fiat deposits and e-wallets. For most people, credit cards offer the easiest path to owning cryptocurrencies, including stablecoins.

    To ensure that this article is as helpful as possible, we will discuss some of the most important things you need to know about stablecoins before providing a detailed guide on how you can buy them with credit cards in five simple steps.

    What Are Stablecoins?

    Stablecoins are a class of cryptocurrencies that have their values tied to an outside asset for the sake of stability. Unlike unpegged cryptocurrencies like Bitcoin and Ethereum, stablecoins are designed to offer price stability. A stablecoin can be pegged against a fiat currency like the U.S. dollar, a reserve commodity like Gold, or another high-value cryptocurrency.

    Stablecoins maintain price stability because they are backed by the specific asset they are tied to. When an organization issues a stablecoin, for instance, it is required to set up a reserve at a financial institution to hold the underlying asset. The value of the stablecoin issued is not expected to surpass the value of the asset kept in reserve. This helps to keep the price of the stablecoin relatively stable.

    The 4 Types of Stablecoins

    Stablecoins are of different types, though they share the same fundamental principle. There are four different types of stablecoins and we will briefly explain them right away:

    Commodity Backed Stablecoins

    As the name suggests, commodity-backed stablecoins are cryptocurrencies pegged against a commodity or physical assets such as gold and other acceptable precious metals, oil, and real estate. Of course, gold is the most collateralized commodity in this asset class. Examples of commodity-backed stablecoins are Tether Gold (XAUT) and Pax Gold (PAXG).

    Fiat Collateralized Stablecoins

    Fiat collateralized stablecoins are cryptocurrencies that are pegged against fiat currencies like the U.S. dollar and Euro. It is the most popular class of stablecoins. The U.S. dollar is also the most collateralized fiat currency in the crypto universe. Some examples of this type of stablecoins are Tether (USDT), TrueUSD (TUSD), and Binance USD (BUSD).

    Algorithmic Stablecoins

    Algorithmic stablecoins are stablecoins that are not particularly pegged to any asset class, rather, their price stability results from the use of specialized algorithms and smart contracts. An algorithm stablecoin tracks the price of a fiat currency, though it is not backed by the currency. The system automatically manages the circulatory supply of the stablecoin in response to price changes.

    Cryptocurrency Backed Stablecoins

    As the name clearly suggests, these are stablecoins that are pegged against other cryptocurrencies. In other words, these stablecoins are backed by other cryptocurrencies. In most cases, this class of stablecoins are not dependent on central issuers. Rather, the system employs smart contracts and depends on individual users to put their cryptocurrencies into the smart contract (as collateral) to generate stablecoins and then return the stablecoins to the original smart contract to withdraw the same collateral amount at any given time.

    The Main Benefits of Stablecoins

    As mentioned in the introductory part of this post, stablecoins are incredibly helpful and beneficial in the cryptocurrency universe. Here are some of the prominent benefits they offer:

    Price Stability in a Volatile Market

    The first and most obvious benefit offered by stablecoins is price stability in a rather volatile market. As we all know, cryptocurrencies are generally volatile and rightly considered risky. Stablecoins bring price stability, which helps many traders to manage risks.

    Quick and Easy Way to Trade and Move Assets within the Crypto Market

    Stablecoins help active traders and investors to make quick moves when the need arises. Since their value can neither rise nor drop suddenly, traders can use them to move assets easily and complete trades faster without wasting days trying to deposit fiat currencies. It offers improved convenience and flexibility.  

    Interest-Yielding Assets

    Stablecoins are incredibly beneficial to users who intend to earn interest with their crypto investment. While they can’t gain value quickly like volatile assets, they yield reasonable interest when used for lending and staking activities. With Binance, for instance, traders can buy Binance USD and generate compound interest through Binance Earn. There are several other ways to generate interest and passive income from stablecoins.

    Top 3 Most Popular Stablecoins

    Are you considering buying stablecoins anytime soon? Then you need to know the popular ones that are considered reliable. Here are three of the most popular stablecoins:

    Tether (USDT)

    Tether is undoubtedly the most popular stablecoin. It is pegged against the U.S. dollar, so the price is approximately $1 at all times. Its market cap stands at $66.90 Billion at the time of writing.

    Binance USD (BUSD)

    Binance USD is among the most popular stablecoins. It is also pegged against the U.S. dollar and its market cap stands at $17.55 Billion at the time of writing.

    USD Coin (USDC)

    USD Coin is another incredibly popular stablecoin pegged against the U.S. dollar, also. Its market capitalization at the time of writing was $55.86 billion.

    How to Buy Stablecoins on Binance in Five Simple Steps

    Are you willing and ready to start buying stablecoins with your credit card? Binance is one of the best platforms to do that. The processes are simple and straightforward.

    Buy/Sell Crypto on Binance

    Here are just five steps you can take to purchase any of the popular stablecoins with your credit card:

    Step 1 

    Log in to your Binance Account. Click [Buy Crypto] and select [Credit/Debit Card].

    Binance homepage with Credit/Debit Card option highlighted

    Step 2

    Choose the fiat currency you intend to buy stablecoin with (could be the US dollar, Euro, or other supported currencies. Enter the amount you wish to spend – the system will automatically calculate and display the amount of crypto you will get.

    Buy BUSD with EUR on Binance with credit card

    Step 3

    Select one of your existing credit card options, or click [Add New Card], then enter the credit card details. (Note that you can only pay with a credit card in your name). Enter your billing address and click [Add Card].

    Adding new credit card on Binance

    Step 4

    Check your payment details carefully to confirm that everything is in order, then click [Confirm].

    Step 5

    The system will redirect you to your bank’s OPT Transaction Page. Verify your payment.

    Wrapping Up

    Stablecoins can be helpful in many ways and you can buy them with a credit card. As the biggest cryptocurrency exchange, Binance makes it easy for anyone to buy crypto with a credit card. You can also choose to buy crypto with a cash balance using EUR or any other supported fiat currency, or deposit your local currency through a bank transfer or using a third-party payment processor.

    FAQs

    Q: Can I link more than one bank card to my Binance account?

    A: Yes, on Binance, you can link as many as five bank cards to your account.

    Q: What type of Credit Cards are supported by Binance?

    A: Binance generally supports Visa and MasterCard payments. However, your country/region may determine the acceptable cards you can use.

    Q: If my purchase fails, will I get a full refund?

    A: Yes, you will get back the full amount you paid if your purchase fails. No charge or fee is applied.

    Q: After buying stablecoin with a credit card, where can I find them?

    A: You will find your purchased stablecoin in your wallet. Just go to [Wallet], then click [Overview]. You will see if the stablecoin has arrived.

    Q: Can I check my purchase history at any time?

    A: Yes, you can always check your purchase history to be sure that transactions are completed. Simply click [Orders], then [Buy Crypto History], and your order history will be displayed.

  • Tether is Launching a New Fiat-Pegged Stablecoin, the British Pound Tracking GBPT

    Tether is Launching a New Fiat-Pegged Stablecoin, the British Pound Tracking GBPT

    Tether stablecoins

    Key takeaways:

    • Tether has announced it will be launching the British Pound Sterling (GBP) pegged stablecoin dubbed GBPT
    • GBPT is slated to go live in July, initially on the Ethereum network
    • Tether has launched a Mexican Peso-pegged MXNT last month

    Tether is expanding its offering of fiat-pegged stablecoins with the British pound pegged GBPT

    Tether, the issuer of the world’s largest market cap stablecoin USDT, has announced on Wednesday it is launching a new stable digital currency. Pegged to the British pound, GPBT will be fully redeemable for the underlying fiat currency at a 1:1 ratio. The stablecoin is slated to launch in July, initially on the Ethereum network.

    The news of Tether’s new stablecoin comes less than a month after the company launched a Mexican Peso-pegged stablecoin MXNT as a response to the growing rate of cryptocurrency usage in Latin America. 

    In addition to MXNT and GBPT, Tether operates the U.S. dollar-pegged USDT, the euro-pegged EURT, and the offshore Chinese Yuan-pegged CNHT. USDT boasts by far the largest market cap in Tether’s stablecoin offering, with the total value of all USDT in circulation of more than $66 billion. For context, the combined market cap value of Tether’s other fiat-pegged digital currencies is less than $50 million. 

    Tether CTO Paolo Ardoino commented on the upcoming launch of the British Sterling Pound stablecoin in a statement:

    “We believe that the United Kingdom is the next frontier for blockchain innovation and the wider implementation of cryptocurrency for financial markets. We hope to help lead this innovation by providing cryptocurrency users worldwide with access to a GBP-denominated stablecoin issued by the largest stablecoin issuer.”

    Ardoino added that Tether is prepared to cooperate with the country’s financial regulators to make the “continued adoption of Tether stablecoins” a reality. 

    In related news, Tether announced the launch of USDT on the Polygon blockchain at the end of May. With the addition of the leading Ethereum Layer 2 solution, USDT became available on 11 blockchain networks, including Ethereum, Solana, Algorand, and Tron, to name a few.

  • AAX Crypto Exchange to Give Out 1M USDT Rewards in “Crypto Summer” Promotions

    AAX Crypto Exchange to Give Out 1M USDT Rewards in “Crypto Summer” Promotions

    AAX Exchange cover image

    Key takeaways:

    • AAX Exchange has announced it will be giving out 1 million USDT in rewards for new and existing users
    • The summer-themed promotion was designed to make crypto trading more fun and profitable
    • Users have to complete KYC authentication before they can claim USDT rewards

    AAX Exchange users to receive 1 million USDT as a part of “Crypto Summer” rewards

    The AAX cryptocurrency exchange has announced a new series of events dubbed “Crypto Summer”. The AAX team hopes that the fun-oriented events and promotions will help bring some optimism and entertainment into the industry currently dominated by negative price movements and investors’ pessimism. 

    The summer-themed events were designed to make buying the dip more profitable and to allow those who believe the current market trend will reserve in the future to pursue lucrative investment opportunities while earning crypto rewards.

    VP of Global Marketing and Communications at AAX, Ben Caselin, had this to say about the summer promotion:

    “Markets may be bearish but at AAX we remain optimistic and determined to build out our products and continue to reach into new markets, and with this campaign, we intend to share some of our optimism with our user base.”

    AAX will be running multiple events with a combined prize pool of 1 million Tether (USDT). Existing users who bring friends to AAX to subscribe to fixed crypto savings products available on the platform can earn up to 100% of the savings generated by their friends, up to a total amount of 150 USDT.

    In addition, users who open accounts on AAX and those who refer them will be eligible to receive a 100 USDT reward each. Moreover, participants in the Invite Friends battle can earn an additional 300 USDT.

    The summer promotions are open to all users of the AAX crypto exchange, both new and existing. Users are required to complete the KYC verification process to receive rewards.

    Create AAX Exchange Account
  • Walken (WLKN), a Move-to-Earn NFT Game, Announced as the Next Bybit Launchpad Project

    Walken (WLKN), a Move-to-Earn NFT Game, Announced as the Next Bybit Launchpad Project

    Walken (WLKN) Bybit Launchpad

    Key takeaways:

    • Bybit has announced Walken (WLKN) as the latest Launchpad project 
    • A total of 20 million WLKN tokens will be distributed in the IEO at an initial token sale price of 0.0165 USDT
    • Walken is a Solana-based NFT game using the innovative Move-to-Earn gameplay mechanism

    Bybit users can participate in the Walken Launchpad with their BIT and USDT

    The Bybit cryptocurrency exchange has announced Walken (WLKN) as the latest project on its Launchpad platform, a popular initial coin offering (IEO) service that lets crypto investors pursue early investment opportunities in promising new blockchain projects. 

    Walken is a Move-to-Earn NFT-powered game built on Solana (SOL). Walken is designed to leverage the power of unique digital collectibles and blockchain technology to incentivize users to lead a healthier lifestyle. Much in the same fashion as another popular Move-to-Earn platform STEPN (GMT), Walken makes working out fun via a gamified approach using in-game leaderboards and challenges. In addition, players can earn WLKN tokens by playing the game, which can be used to buy and sell unique accessories, staking, and governance purposes.

    Each Walken player controls a CAThlete NFT character, which can be accessorized and have its stats upgraded using gems and WLKN tokens. Characters can be pitted against each other in competitive community events, including Urban Running, Sprint Running, and Marathon Race. Each competition requires special attributes, ensuring long-term gameplay variety and rewards for different approaches.

    Walken on Bybit Launchpad – How to Invest in WLKN IEO?

    Bybit users can participate in the Walken Launchpad with their BitDAO (BIT) and Tether (USDT) holdings. Those who commit BIT will receive WLKN tokens based on the amount of BIT they have committed during the subscription period. Users committing USDT, on the other hand, will be enrolled in a lottery draw that will grant winners a chance to win a 750 WLKN  allocation. Each lottery ticket costs 100 USDT.

    In total, 20 million WLKN tokens will be distributed in the Launchpad at an initial token sale price of $0.0165. 70% of the entire token allocation is reserved for BIT participants and the remaining 30% for USDT users. The WLKN token will be listed on Bybit’s Spot trading platform on June 21, at 12:00 UTC, if liquidity conditions are met.

    Historically, Bybit Launchpad projects have performed very well following their IEO debut. Here’s an overview of the most successful projects that went live via Bybit Launchpad and their current yields compared to their initial token sale price.

    Launchpad ProjectROI (expressed in USD)
    Genopets (GENE)12.59x
    Apex Protocol (APEX)4.04x
    Pintu Token (PTU)2.58x
    Kasta (KASTA)1.75x
    Realy (REAL)1.37x
    *Data collected on June 13, at 2:45 PM UTC.
    Go To Bybit Launchpad
  • Walken on Bybit Launchpad – How to Invest in WLKN IEO?

    Walken on Bybit Launchpad – How to Invest in WLKN IEO?

    Walken (WLKN) Bybit Launchpad

    Walken (WLKN) is the latest cryptocurrency project featured on Bybit Launchpad, a platform that allows verified Bybit users to participate in the initial exchange offering (IEO) of promising blockchain projects. Out of the total WLKN supply of 2 billion tokens, 20 million WLKN tokens will be distributed in the Launchpad program, at an initial token sale price of 0.0165 USDT. Bybit will distribute 14 million WLKN to users subscribing with BitDAO (BIT) and 6 million WLKN to users participating in the lottery draw with their Tether (USDT).

    Walken is a GameFi project built on the Solana (SOL) blockchain that features NFT-powered in-game characters called CATheletes and unique Move-to-Earn monetization mechanics. The app’s native token WLKN can be used to upgrade, buy, and sell NFT characters, and to participate in the platform’s governance.

    Walken is the third project to be featured on the revamped version of Bybit’s Launchpad platform. Whereas previously, verified Bybit users were able to participate in IEOs only with their BIT holdings, they can now participate using their USDT as well. However, using USDT doesn’t grant direct access to WLKN tokens. Instead, USDT participants will be randomly selected in a lottery draw, which will award 8,000 separate allocations, each worth 750 WLKN.

    Here’s an overview of important dates pertaining to the Walken IEO:

    StartEnd
    Snapshot PeriodJune 16 (00:00 UTC)June 20 (23:59 UTC)
    Subscription PeriodJune 21 (03:30 UTC)June 21 (10:59 UTC)
    Distribution PeriodJune 21 (11:00 UTC)June 21 (11:59 UTC)
    Launch PeriodJune 21 (12:00 UTC)/

    How to invest in the Walken (WLKN) IEO on Bybit Launchpad?

    In this guide, we will show you how to participate in the Walken Launchpad program. Keep in mind that only users who have completed the necessary KYC steps and hold BIT or USDT in their accounts are eligible to participate.

    1. Create an account on Bybit and verify your account

    In order to participate in the WLKN IEO, you will first need to create an account on Bybit. You can skip this step if you are already a registered Bybit user.

    Create Bybit Account
    Bybit's registration page

    Once the account registration process is successfully completed, you can proceed to the account verification procedure. Bybit offers two verification tiers, which primarily differ in the amount of daily Bitcoin withdrawals. It is worth noting that both KYC levels unlock access to Launchpad functionality.

    How to Pass KYC on Bybit?

    Once you’ve supplied the required personal information and completed the KYC process, you can proceed to the Launchpad section, which can be found by navigating to the bottom of the “More” drop-down menu on the Bybit homepage.

    Bybit Launchpad section on the Bybit homepage

    2. Select Walken from the list of Launchpad projects

    Locate Walken from the list of ongoing and finished Launchpad projects. The most recent and typically the only active project is listed at the top of the list.

    Select Bybit Launchpad project from the list of completed and ongoing IEOs

    3. Walken IEO requirements and token distribution

    As mentioned before, Bybit users get a chance to take part in public sales by committing an amount of BIT or USDT that will be used to buy new tokens as soon as they are first available on the exchange. The amount of new tokens a user receives in the sale is directly proportional to the amount of BIT committed. You will need at least an average of 50 BIT or 100 USDT in your Spot, ByFi, or Derivatives account during the 5-day snapshot period, to be eligible for the public sale.

    In order to give each user a fair chance at obtaining WLKN, Bybit has set a hard cap of 20,000 WLKN for users committing BIT. Moreover, each USDT lottery winner will receive a 750 WLKN allocation. Users that won’t be selected in the lottery draw will receive the full amount of USDT committed back once the program ends.

    Do note that participation in the Walken public sale is restricted to residents of the following jurisdictions: the United States, mainland China, Singapore, Quebec (Canada), North Korea, Cuba, Iran, Crimea, Sevastopol, Sudan, and Syria.

    4. Walken IEO Timeline

    The Walken IEO will follow a strict Launchpad schedule; below, you will find a complete overview of the important dates you will have to keep in mind, as explained by Bybit:

    • June 16 (00:00 UTC) to June 20 (23:59 UTC) – Snapshot Period: The average daily amount of BIT in your Spot Account, ByFi Account, and Derivatives Account during the snapshot period must be equal to or greater than 50 in order to participate in the token sale. Likewise, the daily average to participate in the lottery draw must be equal to or greater than 100 USDT.
    • June 21 (03:30 UTC) to June 21 (10:59 UTC) – Subscription Period: You can commit a certain number of BIT or USDT in your Spot Account towards the new project. The number of BIT or USDT you’ve committed will be locked until the public sale ends.
    • June 21 (11:00 UTC) to June 21 (11:59 UTC) – Distribution Period: Based on your final APEX allocation result, the corresponding BIT or USDT equivalent will be deducted from your committed amount, while your WLKN allocation and the remaining BIT will be credited back to your Spot Account. The remaining amount of USDT will be credited back to your Spot Account. Non-winning lottery participants will get the full amount of USDT back.
    • May 5 (12:00 UTC) – Launch Period: The new Spot pair, WLKN/USDT, will open for trading as long as liquidity conditions are met.

    5. Walken step-by-step Launchpad guide

    Now that you are familiar with the project and the intricacies of Bybit’s Launchpad program, follow our step-by-step instructions to learn how to commit your BIT or USDT holdings. Do note that some of the following images are from a previous Launchpad event.

    Go to Bybit Launchpad

    Step 1 – Select to subscribe with your BIT holdings or commit USDT to gain a chance of being one of the lottery draw winners. The process for committing BIT and USDT is very similar.

    Bybit Launchapd BIT and USDT allocation page
    Select the “Subscription” option to participate in the Launchpad with BIT and the “Lottery” to participate with USDT.

    Step 2 – Proceed by entering the amount of BIT you wish to commit to the sale and click on the “Commit Now” button. Committing USDT doesn’t involve entering your precise token amount, since every lottery ticket costs 100 USDT. Keep in mind that you can’t participate in the Launchpad with BIT after you’ve decided to enroll in the lottery draw.

    Confirming Bybit Launchapd USDT lottery subscription

    After committing USDT, you will be given a lottery number and see how many participants are currently in the draw.

    Bybit Launhchpad lottery ticket

    Step 3 – When using BIT, you can choose to commit additional funds after the initial investment has been made. You can increase your investment up to your daily average BIT balance, which was calculated during the Snapshot Period.

    Commiting BIT on Bybit Launchpad

    When the Launchpad period ends you will be notified about your lottery draw status. The first image below shows what you can expect to see in the event of a lottery win, while the second image shows what to expect if you were unfortunate in the draw.

    Bybit Launchpad USDT lottery winning message
    Winning lottery message.
    Bybit Launchpad USDT lottery losing message
    Lossing lottery message.

    6. Performance of past Bybit Launchpad projects and closing thoughts

    Projects listed on the Bybit Launchpad have historically performed very well and have enjoyed a notably positive market reception once they’ve started trading in the spot markets. With a revamped program, Bybit looks to expand the service to users who might not be inclined to hold BIT but have USDT readily available. Here’s an overview of the five most lucrative Bybit Launchpad projects and their USD-adjusted returns:

    Launchpad ProjectROI (expressed in USD)
    Genopets (GENE)12.59x
    Apex Protocol (APEX)4.04x
    Pintu Token (PTU)2.58x
    Kasta (KASTA)1.75x
    Realy (REAL)1.37x
    *Data collected on June 13, at 2:45 PM UTC.

  • Tether’s USDT is Expanding to Tezos Blockchain

    Tether’s USDT is Expanding to Tezos Blockchain

    Tezos (XTZ) cryptocurrency integrated circuit cover

    Key takeaways:

    • Tether Operations Limited (“Tether”) is launching its USDT stablecoin is on the Tezos blockchain
    • Tezos is a popular Proof-of-Stake smart contact platform launched in September 2018
    • With $83 billion in market cap, USDT is the world’s largest stablecoin, ahead of the second-palced USDC by roughly $30 billion

    The largest stablecoin in the industry is coming to Tezos

    Tether Operations Limited, the issuer and operator of the world’s largest stablecoin Tether (USDT), has announced the expansion of its flagship stable digital currency to Tezos, a rapidly growing Proof-of-Stake (PoS) blockchain. With the launch on Tezos (XTZ), USDT will provide liquidity on 13 crypto networks, including Ethereum, Avalanche, and Bitcoin’s Omni layer, to name a few.

    Tezos is a decentralized open-source smart contract platform that allows developers to build decentralized applications (dApps) using a modular approach, making the development process more efficient and faster. According to DeFi research platform DeFiLlama, Tezos’ TVL (total value locked) increased by 11% to $60.8 million in the last 7 days. Synthetic asset management protocol Youves (YOU) is the most popular app on Tezos, with a TVL of $22.3 million.

    Tether CTO Paolo Ardioni had this to say about USDT’s expansion to a new network:

    “We’re excited to launch USD₮ on Tezos, offering its growing and vibrant community access to the most liquid, stable, and trusted stablecoin in the digital token space. Tezos is coming fast onto the scene and we believe that this integration will be essential to its long-term growth.”

    The announcement of USDT launching on Tezos comes roughly two weeks after the stablecoin giant unveiled it is expanding to Polygon. Tether’s main fiat-based stablecoin competitor Circle quickly followed suit and added Polygon support for its USD Coin (USDC) earlier this week.

    USDT is the largest stablecoin in the space, boasting a market capitalization of more than $83 billion. For context, the second largest stable digital asset USDC boasts a market capitalization of over $53 billion.

  • Circle Account and Circle APIs Now Support USDC on Polygon

    Circle Account and Circle APIs Now Support USDC on Polygon

    Circle's USD Coin (USDC) cover

    Key takeaways:

    • USD Coin operator and issuer Circle has announced support for USDC on the Polygon network
    • Circle Account and Circle API users will now be able to seamlessly tap into USDC’s liquidity on Polygon
    • Polygon is the ninth blockchain platform supported by USDC

    Circle unveils support for Polygon USDC

    Circle – the operator and issuer of the world’s second largest stablecoin USD Coin – announced on Tuesday that the fintech company’s array of products and services, including Circle Account and Circle APIs, now support USDC on Polygon.

    Polygon is a Layer 2 scaling solution for Ethereum, allowing users to benefit from faster and lower-cost transactions. The popularity of L2 networks skyrocketed in recent years due to Ethereum’s inability to process an adequate number of transactions due to the emergence of NFTs and DeFi products, which leads to network congestion and high gas fees.

    According to the official announcement, support for Polygon USDC will allow Circle Account and Circle API users to seamlessly tap into the Polygon network without having to manually bridge USDC from Ethereum to Polygon. This will allow easier access to crypto trading platforms, swapping, borrowing, and lending DeFi products, NFT trading, and more.

    With the addition of the Polygon blockchain, USDC now exists on nine blockchain platforms, including the aforementioned Ethereum, Algorand, Solana, Stellar, TRON, Avalanche, Flow, and Hedera.

    The news of USDC expanding to a new blockchain comes less than two weeks after Tether announced the launch of its USDT stablecoin on the Polygon network. 

    USDC is the fourth largest digital asset by market capitalization, with the total value of all USDC in circulation amounting to more than $53 billion. For context, the third-largest digital asset, USDT, currently boasts a market cap of over $83 billion.

  • What is the Best Cryptocurrency You Can Use to Bet on Sports?

    What is the Best Cryptocurrency You Can Use to Bet on Sports?

    What Is Crypto Sports Betting / How Does It Work?

    Following the triumph of Bitcoin (BTC), numerous other cryptocurrencies entered the mainstream. With a wide spectrum of cryptocurrencies such as Bitcoin, Bitcoin Cash (BCH), and others, cryptocurrency markets have risen tremendously over the past few years (ALT). Cryptocurrency users can spend their digital money in a variety of ways. Crypto sports betting is one such application of cryptocurrency.

    In cryptocurrency betting, cryptocurrency like Bitcoin is used instead of fiat currency to bet on the outcome of a sporting event. While some of the greatest crypto betting sites solely accept bitcoin, others accept fiat money transactions as well.

    Because of the growing popularity of bitcoin sports betting, most of the leading online casino platforms have a crypto sportsbook component. Some of the best bitcoin sports betting sites also provide future bets, prop betting, and other cryptocurrency sports betting alternatives. As a result, such sports bettors can select a crypto gambling site based on their preferred coin and betting options.

    Sports betting and crypto casinos are becoming increasingly popular and as previously mentioned, only a few crypto sports betting sites are legitimate and safe. So, if you don’t want to lose money, look only for the best crypto sports betting sites in 2022 that offer a great user experience, positive reviews, and simple deposit and withdrawal options.

    Popular Betting Cryptocurrency

    Many other cryptocurrency tokens were released into the market after the first digital coin, Bitcoin was launched. The bitcoin market is estimated to be worth $1.3 trillion.

    Despite the fact that there are more marketplaces, not all cryptocurrency tokens are successful. That stated it’s critical to pick the correct cryptocurrency for betting on your favorite sport. Here are some options;

    Sports Betting using Bitcoin

    The essence of Bitcoin sports betting is using Bitcoin (BTC) for bitcoin betting and withdrawing the same winnings.

    Some of the online sportsbook crypto betting firms that accept Bitcoin transactions also accept regular currency payments.

    When looking for the best Bitcoin sports betting site, look for one that has an integrated cryptocurrency wallet. This is due to the fact that such a large crypto-betting sportsbook provides options for purchasing and trading Bitcoin for actual money.

    Sports Betting on Ethereum

    Ethereum is an open-source blockchain network, similar to Bitcoin and Bitcoin Cash. Unlike Bitcoin, though, Ether includes unique features such as smart contracts.

    To place a wager on Ethereum sports betting, you must use the Ethereum deposit method. Withdrawals of other cryptos and fiat currencies are also possible on some sites. It is frequently recommended that you select an Ethereum betting platform with a low withdrawal limit.

    Ethereum is one of the few digital currencies that can compete with Bitcoin. Nonetheless, betting on Ethereum-based sports betting platforms is regarded as safe and lawful.

    Sports Betting with Dogecoin

    Dogecoin is known for being lighthearted digital money. Dogecoin, unlike its contemporaries Bitcoin (BTC), Ripple (XRP), and others, has an endless supply, allowing it to inflate indefinitely.

    The best way to increase one’s Dogecoin holdings is to use a Dogecoin sports betting platform. Despite the fact that Dogecoin is one of the top ten digital currencies, most of the finest crypto gaming platforms accept it as a deposit method.

    Sports Betting on Ripple

    The Ripple network’s native token, XRP, is well recognized for its real-time gross settlement system.

    With ostensibly cheap rates, the Ripple network is also known as the leading cross-country transaction facilitator. A Ripple sports betting platform, on the other hand, will allow gamblers to play in an online sportsbook in another country.

    Sports Betting using Litecoin

    Litecoin is one of the digital currencies that has grown in value at a quicker rate than Bitcoin. Litecoin sports betting entails depositing Litecoin into a sportsbook account and gambling with it.

    Litecoin payments are accepted on the end-to-end crypto betting platform. Individuals can buy LTC using a credit card or other payment methods at such sportsbooks. All Bitcoin casinos, of course, charge typical deposit and withdrawal fees.

    Sports Betting Cardano

    Despite being a decentralized cryptocurrency platform, Cardano sports betting offers different advantages over Bitcoin. Some of these benefits include lower deposit and withdrawal fees, as well as more player privacy.

    Any Cardano online sportsbook site uses ADA as its preferred cryptocurrency coin. The Cardano network, unlike Bitcoin, uses a Proof-of-Stake algorithm.

    Most of the finest Cardano casino sites have low deposit fees and an appealing welcome gift.

    Sports Betting with Binance Coin

    Binance coin sports betting utilizes the Binance crypto exchange’s native currency.

    As stated earlier in the article, the amount of digital tokens supported by a crypto betting site is one of the criteria for selecting the best betting platform. Binance is one of the newest cryptocurrencies to gain popularity, similar to Bitcoin, making it one of the most popular betting options.

    Sports Betting in Solana

    When it comes to online Solana sports betting, Solana provides security. The online sports betting function is popular among websites that accept the Solana cryptocurrency. In comparison to other cryptocurrencies, it also offers the same bonuses on deposits.

    Sports Betting by Stellar

    Stellar tokens, like Bitcoin, are among the top ten cryptocurrency tokens, with Stellar sports betting becoming increasingly popular. The coin’s value is constantly increasing, similar to bitcoin, making it an excellent investment asset.

    Sports Betting on Tether

    Tether offers its own set of benefits, which are also extended to Tether sports betting. Tether casinos are incredibly popular because of their liquidity, which is one of their best characteristics.

    Final thoughts

    The goal of using digital money to place wagers is to grow one’s digital asset portfolio.

    Cryptocurrencies such as Bitcoin, BCH, XRP, ETH, and others have a slew of advantages. In addition, the same advantages apply to bitcoin sportsbooks and betting sites. In the future, cryptocurrency sportsbooks will have a major impact on the world of gaming. That the crypto coin network has proclaimed its integrity is what is being credited for this development.

    Withdrawals and deposits are faster at bitcoin sportsbooks. Special crypto bonuses are available to you. For example, a welcome bonus or a deposit bonus for cryptocurrencies.

  • Tether Launches USDT on Polygon Blockchain

    Tether Launches USDT on Polygon Blockchain

    Key takeaways:

    • Tether Operations Limited (“Tether”) has announced the launch of USDT on the Polygon blockchain
    • Polygon has become the 11th blockchain to support USDT
    • Tether CTO Paolo Ardoino believes that USDT will be instrumental in aiding Polygon to continue its “historical growth”

    USDT launches on Polygon as the 11th supported blockchain platform

    Tether Operations Limited (“Tether”), the operator of the industry’s largest stablecoin by market cap, USDT, has announced the launch of their stable digital currency on Polygon, the leading Layer-2 Ethereum scaling solution.

    According to the company’s statement, USDT will allow over “8,000 teams building on Polygon” to tap into liquidity provided by the leading stablecoin to expand their role in supporting Polygons’ decentralized finance (DeFi) ecosystem. The number of decentralized applications (dApps) running atop Polygon has increased from 3,000 in October 2021 to 19,000 in April 2022 – a more than 500% growth in six months. With access to USDT, the record-breaking growth could continue in the upcoming months.

    Tether CTO Paolo Ardoino had this to say about the launch of USDT on Polygon:

    “We’re excited to launch USD₮ on Polygon, offering its community access to the most liquid, stable, and trusted stablecoin in the digital token space. The Polygon ecosystem has witnessed historical growth this year and we believe Tether will be essential in helping it continue to thrive.”

    With the addition of Polygon, USDT is now operating on 11 blockchain networks, including Ethereum, Solana, Algorand, and Tron, to name a few. According to data curated by The Block, by far the largest share of USDT’s circulating supply is located on Tron and Ethereum. 

    With a market capitalization of roughly $83 billion, USDT is the largest stablecoin in the market, accounting for over 6% of the total value of all digital currencies in circulation. Due to its prominent role as a primary value transfer asset in DeFi and the cryptocurrency exchanges sector, investors were disturbed earlier this month when USDT momentarily lost its $1 peg. The stablecoin’s US dollar peg has since been fully re-established.

    Last week, Tether launched Mexican Peso-pegged stablecoin Tether MXNt (MXNT) in response to a growing rate of cryptocurrency users across Latin America. The new stablecoin joined the company’s existing offering of fiat-pegged digital currencies, which includes the U.S. dollar-pegged USDT, the Euro-pegged EURT, and the offshore Chinese Yuan-pegged CNHT.