Crypto News 

Ongoing Economic Crises in Venezuela and Beyond Show That the Idea of Bitcoin as a Store of Value Is Increasingly Catching On

“And as one might expect, such declines were complemented by upticks in Bitcoin trading” writes Simon Chandler for cointelegraph.com. This is why the recent increases in Bitcoin trading against the Turkish lira haven’t been on the scale of trading against the Venezuelan bolívar.In Venezuela, with inflation currently exceeding 100,000 percent, and with millions of people struggling to feed themselves, these three conditions have certainly met.Venezuela may be the starkest example of how financial crises can encourage cryptocurrency adoption, but it isn’t the only one. Source: cointelegraph.com

Read More
Crypto Markets News Stocks 

Survey: Half of Millennial Investors Trust Crypto Exchanges More Than Stock Exchanges

“Nearly half of millennial traders have more trust in digital currency exchanges than in United States (U.S.) stock market exchanges” writes Ana Alexandre for cointelegraph.com. Almost 40 percent of respondents cited peer influence as a main reason for investing in crypto, and over 35 percent have reportedly been lured into the crypto market by the “Fear of Missing Out.”. Research published last November revealed that cryptocurrency investing is most popular among millennials earning from $75,000 to $99,999 annually.The research was conducted by market research and strategy firm Provoke Insights on…

Read More
Crypto News 

Most Digital Tokens ‘Will Go to Zero’ Says Digital Currency Group CEO

“Barry Silbert, CEO and founder of Digital Currency Group and Grayscale Investments, said that the majority of digital tokens will not have value in the long run, CNBC reports on Feb. 13” writes Aaron Wood for cointelegraph.com. In a purported phone interview with CNBC, Silbert said “I’m not a believer in the vast majority of digital tokens and I believe most will go to zero.”. While Bitcoin has “a really ugly technical chart” in Silbert’s opinion, it has “won the race to be digital gold.”.  Source: cointelegraph.com

Read More
Crypto News 

Iran: Still Waiting for the Blockchain Revolution

“Therefore, the road map toward a national digital currency and the future regulation of cryptocurrencies in the country remain uncertain” writes Daniele Pozzi for cointelegraph.com. However, the news media stressed how many expectations Iran has with regard to blockchain technology as a way of circumventing sanctions.Mike Gallagher introduced a bill in the U.S. Congress (Blocking Iranian Illicit Finance Act) encompassing articles aimed to forbid U.S. citizens from engaging in any operation involving a hypothetical Iranian digital currency.In fact, blockchain seems to be a thrilling topic for Iran: Before the end…

Read More
Crypto News 

Union Bank of Philippines to Open Two Crypto ATMs

“Union Bank of Philippines (Union Bank) is launching two cryptocurrency ATMs in the country, according to a report by local media outlet the Philippine Star” writes Arnab Shome for financemagnates.com. The bank has partnered with the Bangko Sentral ng Pilipinas (BSP), the central bank of the country, and will comply with all necessary regulatory needs.The Philippines has a mixed approach to cryptocurrencies as the country is maintaining a calculative approach towards the sector.Union Bank is one of the largest banks in the country with more than 300 branches.However, the bank…

Read More
News 

Egypt’s bank deposits up by 15.3% end-November 2018: CBE

“The CBE stated in a recent report that deposits in the local currency increased by 16.9%, while deposits in foreign currencies grew by 9.4%” writes Hossam Mounir for dailynewsegypt.com. It added that the household sector accounted for 79.2% of total deposits at banks.Besides the household sector, there is also the private business sector, which is the second top saving sector in banks.The value of deposits at the banks operating in the Egyptian market increased by 15.3% at the end of November 2018, according to the Central Bank of Egypt (CBE).…

Read More
News 

Funding Options, Caxton FX Pair Up On Multi-Currency SMB Card

“U.K. marketplace lending company Funding Options is teaming up with Caxton FX to introduce a prepaid multi-currency payment card for small businesses (SMBs)” reports pymnts.com. The solution is designed to help small businesses manage spend while traveling across borders, the companies said in a press release on Thursday (Feb. 7), while also helping SMBs save on foreign exchange (FX) costs.The collaboration marks Funding Options’ entrance beyond small business lending, according to the firm’s CEO and Founder Conrad Ford. “A pre-loaded currency card is the simplest way for small business owners to…

Read More
News 

Monero Lead Progammer: It’s a Currency, Not an Investment

“The lead programmer working on cryptocurrency Monero has said that the coin should be viewed as a currency and not an investment” writes David Kimberley for financemagnates.com. Speaking to Forbes, Riccardo Spagni claimed that Monero was not designed to be a vehicle for investment.Conversely, Monero is designed to prevent that from happening, making it even more difficult to determine who is sending money to who using the cryptocurrency. Source: financemagnates.com

Read More
News 

Bank of Korea Warns Against Central Bank Digital Currency

“South Korean central bank has issued a warning against the concept of central bank digital currency (CBDC) saying the move will cause liquidity shortage along with a surge in interest rates, according to a Yonhap report” writes Arnab Shome for financemagnates.com. Last month, the South Korean central bank officially issued a notification mentioning that it will not issue any CBDC after studying the prospect since last May.Many central banks around the world are exploring the feasibility of launching the state-issued digital currencies based on the blockchain technology which can be…

Read More
Crypto News 

Opera Rolls Out Android-Powered Crypto Wallet for Denmark, Sweden & Norway Clients

“The browser-based wallet also supports digital currency collectibles (ERC-721 Standard) like CryptoKitties, and a host of ether-based decentralized applications” reports livebitcoinnews.com. A collaboration between a major digital currency exchange and Opera allows users to purchase Ethereum’s Ether (ETH) straight from the browser’s Android-powered electronic wallet.In an announcement yesterday, Opera said that its affiliation with digital currency broker Safello, registered with the Swedish Financial Supervisory Authority, will allow users in Denmark, Norway and Sweden to use the Android version of the browser to buy crypto with ease.Launched in December last year,…

Read More