Regulatory Attention and Fraudsters: Bad Crypto News of the Week

There are a lot of Bitcoin good news going around for a while. The price of the dollar to Bitcoin exchange is $9500. It is soon to reach the $10,000 mark as far as Google search results are concerned. There is a substantial decline in the searches related to ‘Bitcoin’. Whenever the result interests go down, the price of Bitcoin increases to a certain degree.

COVID-19 has led to stop the production of many essential things and money is also one of them. Since the production of coins has decreased, major banks like State Bank of Milwaukee is offering 5% premium to everyone who gives coins to the bank.

Mastercard, on the other hand, has joined hands with cryptocurrency firms to provide cashless transactions. Now the federally chartered banks can have the custody of cryptocurrencies according to the banking regulators.

The U.S. should run pilot programs to introduce its digital dollar, said the former Commodity Futures Trading Commission chair, J. Christopher Giancarlo. A digital dollar can save online scams in the long run because of its secure nature.

A perfect example of government intervening with the crypto-related income has been seen when South Korea has announced a 20% tax on crypto trading. Coinbase, a cryptocurrency exchange has recently stopped more than 1000 customers from paying $280,000 worth of Bitcoin to hackers on twitter.

Meanwhile in Argentina, the largest telco of the country has just reported a $7.5million Monero ransomware attack. Two teenagers were arrested in Italy to watch a live stream on children getting tortured and they made the payment through Bitcoin.

Ethereum has found a unique way to deal with hackers. It has set up two networks where attackers will try to sneak in exchange for a bug bounty. This network is not completely open though. The foundation has provided one or two security measures.

To support the musicians, in the long run, music streaming apps will now accept Bitcoin as a payment method. It will allow musicians to earn more. This survey was conducted by a digital music store, eMusic. According to the survey, 65% of customers are happy to pay Bitcoin to listen to their favorite music.

South African Divi Project Community has raised 67,000 DIVI on the completion of 67 years of Nelson Mandela’s humanitarian work. The community will use this fund to help 67 families with 67 food packets. These 67 families are those who have lost their income due to COVID-19 pandemic. Now, this is a good week for Bitcoin!

Japanese Government To Include CBDC In Economic Plan

As per a report by Nikkei, the Japanese government is expected to include its accelerated Central bank digital currency in the formal economic plan.

The Japanese government has clearly stated that it will consider the CBDC plan, in cooperation with other countries, and is ready to include this consideration in the Hunebuto Plan. This plan is the basis of the country’s fiscal and economic policies. The news comes ten days after the central bank’s announcement of starting the digital Yen feasibility test from a very technical perspective.

There has been a swift turn around in attitudes recently. In July of 2019, the BoJ was resolute with their plans for not issuing any CBDC in the country. But, for quite some time, the Bank of Japan has been working on developing its own Central Bank Digital Currency and said that it would start experimenting the same very soon. This happened because Kozo Yamamoto, an LPD member of the House of Representatives, urged on the urgency of a national digital currency without which the Japanese Yen might lose its sovereignty.

However, no such timetable or format was released when the report for Technical Hurdles for CBDC stated that the BoJ would continue testing the digital Yen for feasibility from a technical perspective in collaboration with other country’s Central banks heading towards the same.

Through this decision, BoJ aims at curbing China’s CBDC development. The reports tell that China has been successfully testing its Digital Currency Electronic Payment (DCEP) or Digital Yuan across a wide range of government employees, civilians, and global organizations falling within the mainland. The Chinese central bank has kept the CBDC development plan the topmost priority to systematically promote the reforms in return systems and cash issuance.

The Proof of Concept decision of BoJ involves cooperation with other countries. Regarding this, previous announcements from February say that six countries came together to form a group and share experiences on the usage of Central Bank Digital Currency in their states. These significantly noticed banks were Bank of England, European Central Bank, Bank of Canada, Bank of Japan, Swiss National Bank, and the Sveriges Riksbank in Sweden. The participation of the Bank for International Settlements was also seen periodically.

Another significant factor was Japan’s requested support from the US Federal Reserve in standing against the Chinese Digital Yuan. Norihiro Nakayama, Japanese Vice-Minister of foreign affairs, said that the Federal Reserve would partner with the six central banks, including BoJ, for the study of Digital Currencies.

Amamiya, Deputy Governor of BoJ, said that the CBDC system can improve the interoperability between the different digital currencies available and remove the barriers on P2P transactions by enhancing the efficiency of payments. However, the final say about the issuing of CBDC rests with the Japanese government, and not with the Central Bank. If the decision is finalized in the cabinet, then Japan’s policy framework will make it an official basic government policy of economic and financial management.

The Number Of Women In Crypto And Blockchain Is Suddenly Increasing In 2020

In case you are much leaned towards the cryptocurrency realm, you might have an idea that this universe is majorly under control or used by male users. But, some sudden update has been brought into notice, and that is women in the land of cryptocurrency are increasing at a rapid pace in 2020.

In a report, a team of analysts found out after research that the count of women in the crypto world has uplifted by approximately 43.24% in 2020. Well, you might be getting surprised and eager to know why this is happening. Well, here are some points to make things clear to you. So, let’s dig in.

Trading Crypto is Not only for the Boys Anymore

The general expansion in the investment quality of digital currency and the price of Bitcoin (BTC) have made a great benefit to a rise in the count of female members in cryptocurrency dealing.

Studies also uncovered that female users have come up, and the count has risen from 22% to 160% approximately on the majority of the best crypto exchanges since the start of 2020.

It could also be noticed that the two digital currency exchanges CEX.io and EXMO found out that the increment in the count of women is the same as Bithumb Global.

The Straightforwardness of Using Crypto

This is one of the major reasons why women are also becoming a very prominent part of this arena. The financial platform called 2gether made a revelation that 23% of its application users are females whose ages range from 26 to 45.

Also, it was found that all those women are from different educational and professional backgrounds. On the basis of the recent reports on this matter, women spend cryptocurrency in the exact same manner they spent their fiat currency.

Geography Plays a Big Role in this too

The increment of female users in the crypto world also depends on geographical factors. Let’s take an instance into consideration. The count of crypto users in the United States and Europe has gone up by 50% in 2020, as these areas have the highest demand for digital currency.

Statistics from 2gether have already proven that women using cryptocurrencies in the European regions are from age 26 to 45, just like you read in the previous section.

Women are Presently Investing More in Bitcoin

43% of the investors in Bitcoin are women. It is a major increment as last year, and the Bitcoin investor was only as less as 13%. So, this is a major uplift in the world of cryptocurrency.

The Bottom Line

So, based on these factors, the world of cryptocurrency cannot be referred to as a dominating male realm as women are equally a part of this. That was all about the increment of the number of women in the crypto world. Hopefully, you got all the required information regarding this particular matter.

Ternio BlockCard Stands at the top Debit Card Via CryptoCurrencyCard.org

Ternio BlockCard is a platform enabled with crypto fintech technology that allows consumers to convert cryptocurrencies into usable capital for the real world, and they are rated as the best out of the rest by CryptoCurrencyCard.org.

 What’s the news about the best Debit Card in the Crypto Market?

Ternio BlockCard- it is a global fintech platform which is built on Blockchain. It actually provides a bridge for the easy transformation of the digital assets to real-world assets, easily. Ternio BlockCard, in general, has connected banking, fintech, and traditional enterprises in order to provide a real-time utility of the digital properties. BlockCard provides instant remittance. They also help in easy transfer of value on blockchain rails in a very secure and regulated manner.

According to the survey of the financial Review publication, the Ternio Block card has been nominated as the best debit card company. After reviewing various similar and alternatives to Ternio BlockCard, they concluded that Ternio is the best. Financial review publication is a well known, leading source of professional reviews on the most recent updates about prepaid, debit, credit cards for cryptocurrencies. 

BlockCard scored 9.2 out of 10 in a customer review, overall. The results were displayed as,

  • Availability- 8/10
  • Fees- 10/10
  • Available cryptocurrencies- 9/10
  • Ease of use- 9/10
  • Customer support- 10/10

This review was the outcome, after reviewing 20 different Cryptocurrency debit cards, in which Ternio BlockCard led the pack. They stood out in the customer support and fees after scoring 10/10. Ease of use and available cryptocurrency is also a notable point. BlockCard delivers the best solution for consumers in the US. Therefore, it is loved by all. Above all, they are very good at customer service, which is the most crucial point!

 Was there an Interview? What was it about?

Yes, the professional team of CryptoCurtencyCard.org was engaged in an interview with the CEO and Cofounder of a one-on-one interview. The interview was basically on the future of the block card. They said that they had just rolled out 6.38% crypto back rewards, which is considerably huge. They also mentioned that they are rolling out mobile apps for iOS and Android, also making decentralized wallets, even you will be able to check national and international accounts, buy/sell cryptocurrency. Also planning to organize a debit card program in Europe. The most amazing news from all of the above is, this card is “global card”. They are also trying to do something more for people between 2020.

 Benefits

BlockCard is positioning itself in the market very soon after it’s launch. There are some benefits to it, which is making customers ga-ga over it. The benefits of BlockCard are,

  • Unlimited 6.38% crypto back rewards on all the purchases.
  • It supports 13 cryptocurrencies, which also includes BTC and BCH.
  • You can deposit crypto on the card, or you can take your card to Walmart, or 7-11, and add cash directly.
  • The BlockCard has two cards, one is plastic, and the other is Virtual. These two cards have forfeit numbers, which makes it safe and more secure.

BlockCard is a revolution in the way that it helps to buy crypto at over 50 million traders, worldwide! This has made digital transactions really easy.

TickTrader Multi-Asset Platform Launched By FXOpen

Australia based global foreign exchange broker, FXOpen recently announced the launch of its new diverse trading platform named Tick Trader. It is a new trading platform that would make it easier for the institutional as well as retail investors to trade a diverse range of financial asset classes through a single account. It includes indices, foreign exchange, commodities, stocks, and even cryptocurrencies. The platform would facilitate both deliverables as well as margin trading, which helps the investors and traders get the flexibility as well as the options they need without having to hop from one account to the other. Such trading options can be achieved directly on the platform or via WebSocket API, FIX, or REST.

As per the statement made by FXOpen, Tick Trader is fully customizable as per the investors’ preferences and comes with a wide array of trading tools, back-testing options, and heat maps. As of now, the clients of FXOpen have access to the other trading platforms of the company, which includes its mobile trading platform, Meta Trader 4, and Meta Trader 5. Soon, the Tick Trader would be added to the trading platforms made available for the clients of the company. The company said at the launch that the idea behind developing and launching Tick Trader is to help our clients profit more, and having access to the right trading platform plays a crucial role in that.

The statement by the company also highlighted how rigorously they had tested the Tick Trader platform before launching to ensure it is going to add a feather to the cap of FXOpen, and its existing suite of trading platforms. FXOpen says that since Tick Trader is highly customizable, it is viable for both institutional as well as retail investors. The new trading platform is so designed that its functionality appeals as well as addresses the issues of all levels of traders across all asset classes.

The timing of the launch is also in favor of FXOpen as the market is witnessing high volatility and surge in volume trading due to COVID-19. Even though the market has been through massive ups and downs in the last couple of months, it is starting to settle down finally in the last couple of weeks. However, the fear of the second wave of COVID-19 across the globe continues to grapple the market and institutional investors. One of the major reasons why the markets have been witnessing high volumes and upward volatility is because COVID-19 has forced many dormant traders to get out of their comfort zone as well as encouraged new investors to start with trading.

Some of the most notable features of Tick Trader include –

  • Live and demo trading accounts for forex and cryptocurrencies.
  • Real-time quotes (cash/forex/crypto0 with market depth.
  • Logs of trading history.
  • Market trending news.
  • Automatic and manual updates.
  • Technical analysis tools with over 30 indicators.
  • Historical prices.
  • Real-time tracking and monitoring of your investment portfolio/account, orders, positions, and assets.
  • Interactive and live symbol charts.
  • Forex news.

It is just the gist of what the Tick Trader offers, and there is a wide range of highly advanced and convenient tools and features that makes trading much more organized and increases the chances of profit. The launch of Tick Trader is primarily based on the massive feedback the company receives from its current and potential clients as well as market surveys. It has helped FXOpen to understand there is a gap in their offering that needed to be filled, and it is what this multi-asset class trading platform, Tick Trader is going to fill. The company did extensive beta testing of the platform before deciding to make it live for its users.

FXOpen hopes to not only consolidate its position in the market through the launch but also to attract new clients due to the volatility the market has been witnessing lately due to the pandemic. FXOpen has been adding to its product and service portfolio frequently lately, and last month introduced AstroPay to help clients withdraw their payments seamlessly. For a company that started offer as an educational center, it has come a long way in the world of brokerage.

Globalism has failed, Long live crypto

The entire world is going through a rough patch due to the Covid 19 pandemic. This is probably the first time in the history that the whole world is fighting a common enemy. The fallout of this disease has been more severe than the actual disease itself in many countries. The worst effect of this pandemic is noted on the economy where a huge loss has to be faced by almost every country. It is obviously a situation where the business came to a halt, and all economies were left without any direction. It has left millions of people jobless and homeless. The economy has crumbled in just a matter of a few months, and there are no signs of recovery shortly. All this has raised important questions about the fundamentals of our economic structure. In this regard, a decentralized process like crypto is the future as it can give a democratic base to the future. No single entity will have absolute control over the system, and this will help to build a stable future.

Growing pandemic across the world

The tiny virus has spared almost no country from its terrible effects, and hence almost every country has to suffer considerable losses in different segments. When the first case of coronavirus was detected in the beginning of this year, nobody had anticipated that it would create so much havoc across the world. Millions have been affected so far, and it has caused hundreds of thousands of deaths across various countries. Even though vaccine trials are going on in many countries, it is still a long way before a proper solution can be found for this problem. Till then, the economy was taking a massive hit as countries were forced to implement lockdowns to control the spread of this disease. Even then, it has not helped in many cases as the numbers are growing each day in many countries.

The fallout of coronavirus pandemic

The fallout of this pandemic has been more severe than the actual pandemic itself as it has crushed the economy in a matter of a few months. It may take another year or two for the economy to come back to normal in many countries. Tourism and hospitality sector has literally come to a standstill, and they have shut shop across the world.

Bigger than the past recession

With millions of jobs lost, the economy is struggling to stay in the positive territory. This has exposed the failures of our economic structure, and it is now time to build a decentralized structure in the lines of blockchain technology. Only this can save the economy from future threats.

How can cryptocurrency help?

In this situation of a pandemic, the most useful option is cryptocurrency. It is called digital or even virtual currency. Cryptocurrency is not based on authoritative economic structures that weaken the economy and devalue the currency. It will stay stable for many years and is not vulnerable to fraud and other manipulations. In this way, it is possible to restructure the global economy by moving towards cryptocurrencies in the long run.

Future of crypto technology

There is good scope for this technology as it can handle data and events in an organized manner without worrying about security aspects. All your transactions remain secure, and the privacy of participants is respected in this technology. This is the need of the hour when governments are trying to control every aspect of our lives by dictating new laws in their favour. It is time to move away from such a concept and welcome the crypto technology to save our world from future threats.

BitPay’s Prepaid Mastercard To Increase Crypto Accessibility In The US

Earlier this month, BitPay announced the release of a first-ever prepaid Mastercard in the US to increase the accessibility of cryptocurrencies. People can now convert cryptocurrencies and load them in their Mastercard in the form of dollars. This prepaid Mastercard is BitPay’s attempt to allow more customers to invest in crypto and give them the power to spend it.

The new prepaid Mastercard will have a daily limit of $10,000 for loading and spending. Customers will get the benefit of instant to reload and quick conversions and the ability to use it worldwide. The card can also be used in ATMs to withdraw cash and to purchase products online. This prepaid Mastercard is available free of cost for existing BitPay cardholders.

The CEO and Co-founder of BitPay, Stephen Pair, said, “The BitPay Card offers new benefits and features for consumers making it easier to convert Bitcoin and other cryptocurrencies into a spendable balance without currency risk. We are excited to work with Mastercard to expand crypto’s use while making it easy for businesses to attract new customers who want to spend Bitcoin and offer more places for customers with Bitcoin to shop.”

BitPay was founded in 2011 and has grown to become one of the leading blockchain payment providers globally. BitPay had earlier tied up with Visa in 2016 to launch a card with similar facilities. The Visa card will expire on the 31st of December, 2020, regardless of the date printed on the card. BitPay further declared that the 31st of July 2020 would be “the last day you will be able to load funds to your card, including converting cryptocurrency to fiat for use. Please redirect any recurring bank deposits, such as payroll, before this date.”

BitPay revealed several new smart spending features to the prepaid Mastercard, including EVM chips for more security and contactless payments. The card will allow users to lock their cards and to have complete control over their spending. The Mastercard also does not add any conversion fees, although it does mention that network and miner’s fee may apply.

BitPay’s Mastercard has an app interface that allows consumers to use it virtually. The virtual card will have its unique 16-digit number and can be used for online transactions. The physical and virtual cards will share the balance between them. While consumers apply and wait for the physical card to arrive, they can start transacting with their virtual cards.

The BitPay mobile app will allow users to view transaction history, manage card settings, and reload their cards at any time. The BitPay Card supports cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), XRP, and stable coins, including USDC (USDC), GUSD, PAX, and BUSD. The card can only be used by customers who are above 18 years of age. Users will have to undergo a complete identity and address verification before BitPay issues the card to them.

The executive VP of Digital Partnerships at Mastercard, Sherri Haymond, commented on their partnership with BitPay by saying, “At Mastercard, we’re committed to offering differentiated financial services to consumers on a global scale. We’re excited to be working with BitPay to offer consumers greater choice and flexibility when it comes to managing their finances.”

The shift to a prepaid Mastercard will open up a fresh new market for the crypto industry. With an increasing number of people moving towards digital money, such cards have become the need of the hour. BitPay’s move to launch this prepaid card will empower its customers and start a trend with other blockchain companies.