Most Important News about Cryptocurrency of the Week # 1
Poloniex eliminates 3 more cryptocurrencies and margin products and loans for North American clients
Poloniex, one of the most important cryptocurrency exchange houses in the world, would have decided to eliminate margin products and loans for its North American clients. Likewise, they would also have removed 3 more cryptocurrencies from their platform, 11 of which were eliminated in the last month.
Through a blog post, the company reported that this decision was motivated as an effort to professionalize and improve their products and services. In addition, this would be to comply with the regulatory requirements of the jurisdiction in which Poloniex currently operates. This would allow them to ensure smooth transmission for customers who might be affected by this.
In this regard, the company commented on this decision:
"As part of our ongoing effort to professionalize and improve Poloniex, we will remove several assets from our platform and take a step forward with the elimination of margin products and loans for our North American clients."
In the future, the company said it will share more information about how users should proceed. Additionally, the platform is encouraging its clients to close their margin positions according to their convenience. However, the existing loans will remain active and continue to finance their positions.
Also, it is worth noting that the assets removed from its platform will be Synereo (AMP), Gnosis (GNO) and Expanse (EXP). This will happen next October 10, so its users will have until November 9 to close their positions and withdraw funds. To do this in the most appropriate way for users, they will send numerous notifications to their clients, they assured.
On the other hand, the platform informed that, in the event that its users experience problems when withdrawing their eliminated assets, the company will consider each situation individually. However, the funds will remain stored in Poloniex for a period of time to ensure that each user can eventually withdraw them.
In addition to these 3 cryptocurrencies, Poloniex would also have eliminated its support for BTCD, BTM, EMC2, GRC, NEOS, POT, VRC and XBC.
4chan already accepts cryptocurrencies as payment
Users of the popular 4chan image board will now be able to pay their annual pass with cryptocurrencies.
Because 4chan users can publish anything anonymously, the platform uses the captchas system to prevent script bots from spreading spam throughout the forum.
But if you want to skip the step of having to complete captchas when you post to 4chan, users have to pay an annual fee of $ 20; however, it can now be paid with bitcoin cash (BCH), bitcoin core (BTC), ethereum (ETH), or litecoin (LTC).
"The passes cost $ 20 per year, which is about $ 1.67 per month, or less than a single bottle of 20 oz soda," say forum administrators.
However, some Reddit users were surprised to learn that the site does not accept Monero or Dogecoin.
It should be noted that the 4chan passes were originally an idea of the community to help fund the forum. Since due to the content offered by the page, it is difficult to get companies that want to advertise their products there.
4chan was created in 2003 by Christopher Poole, a 15-year-old student from New York, mainly to have a space to post images and discuss manga and anime. Today it is one of the oldest and most influential forums on the internet. On the other hand, the forum has some of the most feared communities on the internet. This has been involved in numerous polemics, cyber attacks and even crimes that have led them to occupy headlines in the press around the world. Like when in 2008 they made Apple's stock fall by spreading the news that Steve Jobs had died of a heart attack. Or like when they leaked almost 500 pictures of famous naked women.
54% of exchanges fail to implement cybersecurity measures, says study
A recent study by ICOrating.com reveals that 54% of all exchanges have failed to implement basic security measures on their platforms.
Some of the findings made by the firm were that cryptocurrency companies have failed to impose, for example, intricate passwords that offer greater security to users.
On the other hand, about 100 exchanges were highlighted, whose transaction volumes exceed one million dollars, and still have failures in some of the basic measures of cybersecurity.
In this sense, some of the factors that most affect the decentralized companies are the following, according to the data collected by ICOrating:
- 41% of exchanges allow users to create passwords of less than 8 characters. 37% of exchanges allow passwords with either letters or numbers only. 5% allows the creation of accounts without verification of emails; while 3% fail in 2FA processes.
Also, the researchers point out that only 46% of the exchanges have complied with the four required parameters of cybersecurity: passwords of more than 8 characters, with a combination of numbers, letters and special characters, with verification of emails and with other measures that reinforce the prevention of hacking or other cybercrimes.
It should be noted that the firm ICOrating noted that among the safest exchange houses are: Coinbase Pro with a score of 89/100, Kraken with 80/100, BitMEX with 78/100, CPDAX with 70/100, Hotbit with 69 / 100, while the most dangerous exchanges have turned out to be Mercatox (25/100), hacked Zaif (29/100) and Bithumb (34/100).
Binance invests in TravelbyBit to implement points of sale in cryptocurrencies at airports
Binance, the largest cryptocurrency exchange in the world, would have supported several cryptocurrency projects to have more exposure. Also, now the company would be interested in investing in startups that serve to promote the massive adoption of digital assets, with TravelbyBit being the most recent to receive up to 2.5 million dollars from the company.
This Australian company will use these funds to introduce a new payment system based on sales points that use blockchain technology, and they will be installed in the most important airports in the world.
On this, Changpeng Zhao, CEO of Binance, stressed that the key to the massive adoption of cryptocurrencies is to provide solutions in real life that allow people to use them when they need them.
He also commented that there is no better way to develop this model than through travel, especially when someone goes to a foreign country where they do not have the local currency.
"Search for TravelbyBit, use your coins (hopefully mainly Binance Coin) and use them. Let's start with the airports and then we expand. In the long term, TravelbyBit shares our vision and values, and we are excited to work together and develop an economy based on blockchain, "he continued.
Travelers can use their cryptocurrencies in all participating airports of this program, in addition to visiting stores where they can make payments, insurance and fast using their points of sale. At the moment, TravelbyBit supports payments in Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC). In the future, they will also add Binance Coin (BNB).
In relation to this, Caleb Yeoh, CEO of TravelbyBit, commented: "Blockchain payments have the ability to make global trade very efficient by eliminating the friction of multiple currency exchange commissions," adding that they would be working on together with the most important retail stores in airports around the world so that all their customers can pay with a simple currency no matter where they are.
Coinbase loses more than 80% of trading volume so far this year.
The platform Diar published its weekly report on Monday, where it analyzes, among other metrics, the fall in the trading volume of several popular exchanges, highlighting the fall that Coinbase has suffered of 83% at present with respect to its maximum of 2018. CoinCrispy had already reported, the same publication pointed to the mass exodus suffered by the most popular decentralized applications.
Diar, which is a weekly institutional publication on digital currency, assets, payments and regulations, through its partner CoinApi, examined the trading volumes of the exchanges Coinbase, Bitstamp, Kraken, Binance and OKEx. It took into consideration only the cryptocurrency measures Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) since it considers that together with XRP, "more than 50% of trading volumes in the markets of cryptocurrencies "revolve around them.
The publication determined that, from January to July, Coinbase, Bitstamp and Kranken have only lost volume since the beginning of the year, while Binance has at least recovered business volume since its low of 2018 as well as OKEx. They only took into account the negotiations in US dollars, leaving aside other currencies such as the euro and the pound sterling.
The exchange Coinbase, based in San Francisco, in January reported a trading volume close to USD $ 21 billion, but saw a contraction of that number by 83% so far this year to report in July to penalties USD $ 3.39 billion. Kraken, which also has a base in San Francisco, increased its volume from January to February, but since then it has only fallen from a maximum of USD $ 4.77 billion to just under USD $ 2 billion.
The platform Diar published its weekly report on Monday, where it analyzes, among other metrics, the fall in the trading volume of several popular exchanges, highlighting the fall that Coinbase has suffered from 83% at present with respect to its maximum of 2018. CoinCrispy had already reported, the same publication pointed to the mass exodus suffered by the most popular decentralized applications.
Diar, which is a weekly institutional publication on digital currency, assets, payments and regulations, through its partner CoinApi, examined the trading volumes of the exchanges Coinbase, Bitstamp, Kraken, Binance and OKEx. It took into consideration only the cryptocurrency measures Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) since they considered that together with XRP, "more than 50% of trading volumes in the markets of cryptocurrencies" revolve around them.
The publication, that is, from January to July, Coinbase, Bitstamp and Kranken have only lost volume since the beginning of the year, while Binance has at least recovered business volume since its low of 2018 as well as OKEx. They only took into account the negotiations in US dollars, leaving aside other currencies such as the euro and the pound sterling.
The exchange Coinbase, based in San Francisco, in January reported to trading volume close to USD $ 21 billion, but saw a contraction of that number by 83% so far this year to report in July to penalties USD $ 3.39 billion. Kraken, which also has a base in San Francisco, increased its volume from January to February, but since then it has only failed from a maximum of USD $ 4.77 billion to just under USD $ 2 billion.
Binance invests in the world's first decentralized bank
Cryptocurrency exchange giant Binance has joined a group of investors that would support the creation of a decentralized bank located in Malta, according to reports.
The exchange would have acquired 5% of the shares in the self-named Founders Bank, after an investment amounting to US $ 155 million, according to the report.
This bank will have systems based on blockchain technology and will create alliances with the Neufund fundraising platform to make sure to issue legally binding tokens.
The bank hopes to obtain a license from the government of the European Union to be able to operate officially. If approved, the institution would be the first decentralized and "community owned" bank, with the token investors literally owning it.
The CEO of Binance, Changpeng Zhao; He did not take long to go to his personal twitter to comment on the news, commenting that "Malta is the fusion territory where traditional finance and blockchain come together. A lot can happen in just 3 months. "
Binance, founded in Hong Kong in July last year, revealed in March that it planned to establish and officiate an exchange of FIAT money to cryptocurrencies in Malta, a jurisdiction that is slowly hoping to become a blockchain island, passing several laws about this technology in the last month.
In addition, Binance announced that it would support the Malta Stock Exchange program to support Fintech startups and ventures. This MSX Fintech Accelerator would be oriented to create and develop an ecosystem to nurture and support startups and ventures related to cryptocurrencies.
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