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Bitcoin Crypto News

BlockFi Clears Up Rumors, Crypto Exchange FTX Will Have $240 Million Purchase Option

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Crypto lending platform BlockFi addressed the rumors of a potential purchase from major crypto exchange platform FTX. Initially reported by U.S. news outlet CNBC, the company was allegedly being bought by FTX at a $25 million valuation, a 99% discount from its nearly $5 billion 2021 valuation. Related Reading | Colombia Launches National Land Registry on […]

Altcoins

Coinbase Abruptly Adds Support for 70 New Altcoins to Global Custody Service

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Coinbase continues to expand its crypto footprint by extending custodial services support to dozens of altcoins for international customers. In a new announcement, the US-based cryptocurrency exchange says it’s adding 70 cryptocurrencies to its roster of 150+ assets that are part of the Coinbase Custody International cold storage trust in Dublin, Ireland. “These new assets […]

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Crypto News

Cryptocurrencies With Incredibly High Market Caps

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Cryptocurrencies are an online alternative to FIAT currencies, and because of the way they are designed, they offer added protection to those using them just like a licensed and SSL encrypted live casino ensures protection for its players. Transactions with them are anonymous and the currencies cannot be duplicated or falsified. Having said that, new users of cryptocurrency may feel overwhelmed by the sheer amount of variety the currency offers and the differences between them. Read this article to find out more about the more common cryptocurrencies. Bitcoin — BTC Around 2008, Bitcoin (BTC) was the first cryptocurrency and is currently the highest-ranking of cryptocurrencies. An anonymous collective known as Satoshi Nakamoto is credited with creating this coin. It is exchanged from person to person, controlled by no one bank. BTC can be used for a variety of purchases and the coin’s market cap has surpassed the US$100 billion range. Ethereum — ETH A close second to Bitcoin, Ethereum (ETH) is another decentralized software platform. The coin was released to the public in 2015 after a fundraising effort. One of the main advantages of ETH is the speed of the transaction time, which is mere seconds when compared to other cryptocurrencies. ETH can be used for any transaction where cryptocurrencies are accepted. The market cap for ETH is also over 100 billion US$. Tether — USDT Unlike Bitcoin and Ethereum, Tether is what is known as a stablecoin. Tether can be used on blockchains, but the value of USDTs is attached to the FIAT value. For example, $1 = 1 USDT. The Tether platform was created in 2014 in order to facilitate the use of digital currencies and digital transactions. Nowadays, this coin ranks third after Ethereum and Bitcoin and has a market cap is on two-digit billion. USD Coin A new way of using FIAT money, the USD Coin is a tokenized form of United States dollars. The USD Coin is an alternative to other online tokens, facilitating the use of American dollars in the digital marketplace. They can also be converted into physical USD at any point in time. As such, the price of 1 USD Coin is equivalent to $1. Binance — BNB The Binance Coin, or BNB, is the fifth-ranking cryptocurrency in terms of both popularity and profitability. Created in 2017, this coin has risen through the ranks to become the 5th most popular cryptocurrency. It is primarily used for the payment of transactions or trading fees on Binance, an online platform dedicated to cryptocurrency exchange, along with tokens mentioned above. As it stands, the market cap for this coin is too on over two-digit billion. Conclusion The world of cryptocurrency may seem complicated and intimidating at first, but once you learn the basics, you can see all the possibilities this digital market can offer. As with most endeavors where financial investment and risk are involved, you should take the time to research the different coins and find the cryptocurrency which works for your needs. Take the time to find reputable sources of information and enjoy diving into the world of cryptocurrency!     Image by Sergei Tokmakov Terms.Law from Pixabay

Altcoins

Coinbase Announces Support for Little-Known Ethereum Scaling Altcoin and Mid-Cap Stablecoin Project

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A layer-2 scaling solution is joining top US crypto exchange Coinbase’s roster of digital assets alongside an exchange stablecoin. Coinbase says Boba Network (BOBA) and Gemini USD (GUSD) will start trading paired with Tether (USDT) once appropriate liquidity conditions are met. Boba Network utilizes optimistic rollups, a less stringent and data-heavy method of transaction verification […]

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Bitcoin Crypto News

Why Rich Dad, Poor Dad Author Will Wait For Bitcoin To Drop To $1,100 Before Buying More

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Best-selling author Robert Kiyosaki offered his followers a “Rich dad lesson” on Bitcoin. Via his official Twitter account, the writer made a distinction between “winners” and “losers” in the crypto market. Related Reading | Reports: FTX Targeting BlockFi Purchase At $25M At the time of writing, Bitcoin has lost major support as it broke below $20,000 and it’s currently trading at $18,900 with a 6% loss in the last 24 hours. The cryptocurrency has lost over 75% of its value since reaching an all-time high at $69,000. At those levels, the Rich Dad Poor Dad author was a buyer and seemed more enthusiastic about BTC’s price future appreciation. Now, he has made a 180 degrees shift in his speech publicly bashing those investors which he classified as “losers”. Kiyosaki’s full message is rather grim, and might be aiming for an impossible level, for Bitcoin to crash all the way down to $1,100: RICH Dad lesson. “LOSERS quit when they lose.”  Bitcoin losers are quitting some committing suicide.’WINNERs learn from their losses. I am waiting for Bitcoin to “test” $1100. If it recovers I will buy more. If it does not I will wait for losers to “capitulate” quit then buy more. In the past, Kiyosaki highlighted $20,000 as the “buy the dip” level. The author called the cryptocurrency a hedge against inflation and called the BTC’s price crashing “good news” and predicted a “time to get richer” by increasing his holdings. The author was bullish on BTC and precious metals, but it’s unclear what has caused him to shift his views. On a different occasion, Kiyosaki foresaw the start of a depression, preceded by a “giant crash” across global markets. The main trigger for this scenario is the U.S. Federal Reserve (Fed) and its attempts to slow down inflation, which is currently at a 40-year high. At that time, Kiyosaki said: BIDEEN & FED need inflation to prevent New Depression. Inflation rips off the poor. Inflation makes rich richer. Biden and Fed corrupt. Prepare: Giant crash then new depression. Be smart Buy, gold, silver Bitcoin. Should You Listen To Robert Kiyosaki? Kiyosaki was almost right when he predicted Bitcoin would reach an all-time high near $75,000. However, as crypto users pointed out, he has been mostly wrong about his BTC’s price prediction. As seen below, Kiyosaki has been talking about this doomsday scenario for over a decade. In 2017, he tweeted about a potential crash in the real estate market, this prediction proceeded a major bull run in the sector. Related Reading | TA: Bitcoin is Plunging, But It’s Too Early to Say Bulls Have Given Up Therefore, it seems wise to take his words with a grain of salt. The crypto market seems soft and susceptible to macro-conditions, but for BTC to return to the $1,000 levels seems unlikely.