Crypto

Bitcoin, Ethereum, Dogecoin, Binance Coin, Cardano, XRP, and several other top cryptocurrencies were seen struggling for most of the week. The market cap of all cryptocurrencies together had tumbled under $1.4 trillion from $1.75 trillion on Tuesday. Bitcoin, for instance, had topped the $40,000 price mark on Monday following Elon Musk's tweet on Tesla suspending vehicle purchases using Bitcoin over the weekend. However, shortly after that, it resumed its drop after Tuesday end of the day, falling back toward $30,000…

Landon Cassill, an American professional stock car racing driver, has partnered with Voyager Digital Ltd., a crypto asset platform. Cassil has supported the cryptocurrency system; he has traded, bought, held, and even gone to mining it. The partnership will allow him to receive payment in crypto for the rest of the 2021 NASCAR Xfinity Series season. In addition, the No. 4 Chevy will feature a Voyager paint scheme in Saturday's Tennessee Lottery 250 at Nashville Superspeedway. Building a Network in…

The first digital currency to be introduced, Bitcoin, introduced a new consensus called proof of work, which aimed to secure the network. A miner does a lot of work(arithmetic calculation) and shows proof in proof of work. However, this system has many problems like high electricity costs. Therefore, it launched a new consensus PoS. Proof of Stake(PoS), introduced in 2012, allows a user to collateralize some assets to validate and release blocks. Since then, several cryptos have their versions of…

The world of crypto is growing, and now people are eager to get in on the frenzy. Crypto stands for all cryptography applications, including DeFi, which mirrors traditional banking and financing concepts except on blockchain technology. The advent of DeFi tokens has caused a frenzy reminiscent of the booms of bitcoin and other cryptocurrencies in 2017. DeFi tokens have joined the race in disrupting traditional finance by allowing the following: lending and borrowing within a peer-to-peer network without any intermediaries,…

China is advancing deeper into its Digital Yuan use. Consequently, commercial banks have just erected over 3,000 automated teller machine(ATM) locations across Beijing that folks will use to convert digital yuan to cash. Digital Yuan in China The Industrial and Commercial Bank of China (ICBC) and the Agricultural Bank of China(ABC) are the two financial organizations that support the withdrawals and deposits of the two variants of the yuan. According to an article, the Chinese Industrial and Commercial Bank of…

According to their Head of Digital Assets, Mathew Mcdermott, Goldman Sachs would soon be launching trading of futures and options for Ether trading for its clients. Moreover, the bank plans to move away from focusing on Bitcoin alone since it took another step toward more crypto acceptance earlier this year. The New York-based bank reopened its dormant trading desk to help customers deal in publicly traded futures linked to Bitcoin, offering its derivatives to its client, which is a move…

Leading U.S Bitcoin (BTC) ATM provider Cryptobase believes you should ditch your regular crypto exchanges for its ATMs. According to the firm's  Chief Operating Officer Michael Telvi, their ATMs ease transacting in Bitcoin and other digital assets. Mr. Telvi said that Cryptobase's ATMs enabled you to trade seamlessly by using your phone and cash. To locate one, you first search for a Bitcoin ATM Near Me. After that, you'll complete the transaction by following a few easy steps. Buy Your…

El Salvador made headlines this week after it became the first country in the world to declare bitcoin as legal tender. The Central American country's congress passed the bitcoin bill proposed by President Nayib Bukele on Thursday by a "supermajority''. The BTC price rose shortly after the vote, climbing 5% to $34,239.  Following the ratification of El Salvador's bill into law, volume outflows from bitcoin OTC desks, a solid indicator of institutional buy interest, have been surging. The data below…

After discovering that about two-thirds of the local transactions in Denmark are crypto-related, the country is cracking down on crypto. Revamping the Old Law According to the Danish tax ministry, the country's present tax system, which is nearly a century old, isn't built to deal with the issues brought by crypto assets. It noted a greater danger of fraud as well as a high rate of filing errors. Denmark will first define the specific issues that cryptocurrencies represent to tax…