Crypto Market Daily Highlights – June 13 – DOGE, ETH, and BTC Slump

Key Insights:

  • Cryptocurrency market conditions deteriorated further at the start of the week, with the broader market seeing red for a seventh consecutive day.
  • While market apprehension toward Fed monetary policy continued to weigh, news of DeFi lender Celsius suspending withdrawals added to the bearish mood.
  • The total crypto market cap tumbled by $121 billion to sub-$1,000 billion for the first time since February 2021.

It was a bearish start to the week for the crypto market, with the broader market seeing red for a seventh consecutive day. According to CoinMarketCap, Theta Network (THETA) was the only altcoin in the top one hundred to avoid a loss, with a 6.41% gain.

Investor apprehension ahead of Wednesday’s Fed monetary policy decision and forward guidance continued to weigh on the crypto market.

Adding to the market angst, however, was news of DeFi lender Celsius suspending all withdrawals, swaps, and transfers. With the dust yet to settle from the collapse of Terra LUNA and TerraUSD, the prospect of another market event came at the wrong time.

The extended sell-off led bitcoin (BTC) to sub-$22,000 for the first time since December 2020.

Crypto Market Cap Slides to sub-$1,000 Billion Amidst Panic Selling

A particularly bearish Monday saw the total crypto market cap slide by $130.6 billion to end the day at sub-$1,000 billion.

The total crypto market cap last stood at sub-$1,000 billion in February 2021. By contrast, however, the crypto market was in a bull run in February 2021, culminating in a bitcoin November all-time high of $68,979.

Year-to-date, the total crypto market cap has fallen by $1,268 billion.

Crypto market cap slides to sub-$1,000 bn.

With regulators looking to expedite efforts to roll out more stringent policy measures, the news of Celsius suspending withdrawals will likely draw more government ire.

The latest news raises the risk of more collapses in the wake of TerraUSD Classic (USTC) and Terra LUNA.

From the top ten cryptos, ETH and BTC led the way down, with losses of 15.7% and 15.5%, respectively.

BNB (-12.6%), DOGE (-14.8%), and XRP (-9.1%) also saw heavy losses.

ADA and SOL fared better than most, falling by 5.3% and 6.6%, respectively.

From the CoinMarketCap top 100, Aave (AAVA), CurveDAO Token (CRV), NEO (NEO), NEXO (NEXO), THORChain (RUNE), and Zcash (ZEC) saw the heaviest losses.

Tracking gold spot (XAUUSD) into the red, PAX Gold (PAXG) failed to provide comfort, declining by 3.01%. On Monday, gold spot slid by 2.80% to end the day at $1,819.

Total Crypto Liquidations Remain Elevated

Following a rise over the weekend, total crypto liquidation spiked going into today’s session.

According to Coinglass, 24-hour liquidations stood at $1,070 million, well above any levels in recent weeks. Early in the Monday session, 24-hour liquidations had stood at $359.7 million,

One-hour liquidations pointed to a steadying in market cap conditions, with one-hour liquidations at $15.53 million.

Crypto liquidations sky rocket.
Total Crypto Liquidations 140622

Crypto Daily News Highlights

  • DeFi lender Celsius suspended withdrawals, swaps, and, transfers to add to the crypto market ire.
  • JPMorgan announced plans to tokenize US Treasuries to embed them into its crypto strategy.
  • US investors filed a lawsuit against Binance US for illegally selling TerraUSD and Terra LUNA.
  • Former Twitter CEO Jack Dorsey challenged Elon Musk to develop a DOGE-based Web69.
  • XRP investors await a court ruling that could decide the direction of the SEC case against Ripple Labs.
  • MicroStrategy (MSTR) share price tumbled by 25.18% on Monday, with Coinbase (COIN) sliding by 11.41%.

Bitcoin and ETH Could Recover Losses, ETC Eyes Strong Reversal

Key Insights:

  • Bitcoin is still holding the key $28,550 support zone.
  • Ether (ETH) dived to $1,715 before it recovered.
  • ETC bulls seem to be eyeing an upside break above $25.20.


Recently, bitcoin price saw a sharp decline below the key $28,550 support level. The price dipped below the $28,000 level and the 21 simple moving average (H1).

There was a spike towards the $27,500 level, but dips were limited. The price bounced back sharply and the price recovered above $28,500. It is now moving higher and trading above the 21 simple moving average (H1).

Bitcoin BTC Hourly Chart
BTC Hourly Chart by FXEmpire

On the upside, there is a key bearish trend line forming with resistance near $29,450 on the hourly chart. A clear move above the trend line could start a steady increase towards $31,500.

Ethereum (ETH)

ETH also started a fresh decline from the $2,000 resistance level. The bears were able to push the price below the $1,850 support level and the 21 simple moving average (H1).

There was a sharp bearish reaction below the $1,800 level. The price even spiked below the $1,740 level and the price tested $1,715. It is now correcting losses and trading above the $1,800 level.

Ether ETH Hourly Chart
ETH Hourly Chart by FXEmpire

On the upside, there are many hurdles forming near $1,850, a connecting bearish trend line on the hourly chart. A close above the $1,850 level could start a decent upward move.

Ethereum Classic (ETC)

ETC started a strong decline after it topped near the $50.00 level. The bears pushed the price below the $35.00 and $25.00 support levels.

It even moved below the $20.00 level and the 21-day simple moving average. Finally, there was a spike below the $18.00 level and the price tested the $15.00 zone. Recently, the price started a recovery wave above the $18.00 resistance.

ETC gained over 10% and was able to clear the 23.6% Fib retracement level of the downward move from the $50.00 resistance zone to $15.00 low. It also cleared a major bearish trend line at $23.20 on the daily chart.

ETC Daily Chart
ETC Daily Chart by FXEmpire

The next major resistance is near the $25.20 level. A clear move above the $25.20 resistance could initiate a strong reversal. If there is no upside break, the price could restart decline and test the $15.00 level.

ADA, BNB, and DOT price

Cardano (ADA) declined over 8% and there was a move below the $0.462 support. The next major support sits near $0.450.

BNB spiked below the $300 support before there was a recovery wave. On the upside, the bears might remain active near the $320 level.

Polkadot (DOT) is slowly moving higher towards the $10.00 resistance. A clear move above $10.00 could set the pace for a steady recovery.

A few trending coins are ZEC, NEO, and CRV. Out of these, CRV is attempting an upside break above the $1.20 resistance zone.

Weekend Market Wrap: Top Updates From the Cryptocurrency Market

Key Insights:

  • With BTC’s price above the $30,000 mark, market confidence seemed to return.
  • Most of the top altcoins were trading in the green on a renewed market momentum.
  • The recent short-term gains seem to be temporary as the market could see further downside.

Most cryptocurrencies traded higher as Sunday approached with a wind of fresh air for crypto investors. While it wasn’t a full-blown recovery, markets headed towards gains, as bearish sentiment waned.

Over the last six months, the cryptocurrency market reached as high as $3 trillion and dropped to as low as $1.2 trillion. In the last half a year, the cryptocurrency market cap has lost $1.9 trillion; these losses are bigger than those witnessed during the 2007’s subprime mortgage market crisis.

The high losses and higher trading volumes have propelled fears of crypto market risk spilling over across traditional markets hurting stocks and bonds. The same also indicates the increased correlation in the high-risk and traditional finance markets.

A return of short-term buyers, as the cryptocurrency market cap inches close to the $1.5 trillion mark, shows optimism in the market. However, the return of traders isn’t indicative of larger market recovery as technicals present limited upside in the short term.

Nonetheless, with the global crypto market cap returning to the $1.30 trillion mark at press time, noting a 4.73% increase over the last day, the same pointed towards a short-term recovery.

So, let us take a quick look at how the market reacted over the last week and where it could go, moving forward.

Bitcoin staging a recovery?

The bitcoin (BTC) price dropped to the lows last seen in late 2020, amid the COVID-19 crisis. Recently, after a storm of Federal Reserve interest rate hikes, the scaling back of its massive $9 trillion balance sheet, and a huge $18 billion stablecoin meltdown, the same brought down the larger crypto market cap and the top crypto asset.

Bitcoin’s price fell to as low as $25,800, but pressure from bulls ensured a short-term recovery back to the sub-$29,000 zone. At the time of writing, the top cryptocurrency, traded at $30,284, noting a 4.11% price rise, over the last day.

FXempire, BTC, Crypto, bitcoin
BTC Price Action | Source: FXEmpire

While the BTC gains instilled some confidence in the market participants, analysts believed that market gains wouldn’t sustain for long with volatility still high. Data analytics site, Glassnode, tweeted that Bitcoin dropped below $30,000, as inflation fears and the Fed’s readiness for “short-term pain” rattled markets.

Notably, BTC was down by 58% from its all-time high price, while SPX was down by 18%, NDX was down by 30%, and US bonds have fallen by 15% from their ATH.

Top market movers

Despite the larger bearish blues, some altcoins took advantage of BTC’s short-term gains as their prices took a bullish turn. At the time of writing, with BTC back above the psychological $30,000 mark, most of the top altcoins like ETH, BNB, XRP, ADA, SOL, and AVAX were trading in the green on their daily charts.

Ethereum traded at $2,079.78, noting 5.61% daily gains, while BNB was up by almost 9%, in the last 24-hours. Fantom’s price performance has also been decent in the last week. FTM traded at $0.3654, noting 19.87% gains, over the last day.

Privacy tokens like ZEC and XMR were up by 21.32% and 17% in the last 24-hours. Of late, privacy tokens have often charted bullish price trajectories when the larger crypto market is down.

That said, DeFi token MKR was one of the top gainers of the last week. At the time of writing, MKR traded at $1,575.27, noting 10.28% daily and 30.90% weekly gains. MKR had reversed the losses made in the first week of May.

FXempire, MKR, Crypto, maker
MKR Price Action | Source: FXEmpire

Top news from the crypto verse

A positive development in the crypto space came from Nigeria, where the nation’s Securities and Exchange Commission has released new rules to guide the issuance, custody, and exchange of digital assets and classify them as securities.

In other news, Chile was still considering whether to move forward with a central bank digital currency (CBDC), despite the earlier disclosed plans to have a proposal ready by early this year.

That said, the Terra ecosystem fall still stood as one of the top stories, in the last week. Earlier today, an FXEmpire article highlighted how Binance’s Changpeng “CZ” Zhao cleared the exchange’s name as rumors about Binance investing in Terra surfaced on crypto Twitter. CZ also questioned the idea of hard forking the Terra blockchain to revive the LUNA and UST ecosystems.

Polygon Announces ZK-Proof-Based Identity Solution for Web3

Key Insights:

  • Polygon has announced that it is working on a new ZK proof-based identity solution.
  • ZK-proofs have been used in privacy blockchains like Monero and Zcash.
  • MATIC’s price saw a slight pullback at press time.   

The decentralized Ethereum scaling platform Polygon has announced the launch of its new privacy-focused identity solution. The platform’s unique Polygon ID uses zero-knowledge (ZK) proofs to create a digital identity that doesn’t reveal users’ personal information.

Privacy-Focused Identity Platform

A recent blog shared by Polygon Team highlights that the new identity platform ‘is the first-ever to be powered by zero-knowledge (ZK) cryptography, privacy, and blockchain scaling technology.’

Polygon revealed on March 29 that it is working on the ZK-proof-based identity solution that will help users verify their identities without revealing sensitive personal information. This development toward user privacy aligns with the firm’s vision. 

Polygon has made ZK a centerpiece of its strategic vision and has committed $1 billion to related projects. Polygon ID is the firm’s latest add-on and is scheduled for a full release in Q3 2022. 

Zero-knowledge proofs allow users to prove their identity without delving into extra details or personal documents except for cryptographic proof. ZK-proofs have been used in privacy blockchains like Monero and Zcash owing to their privacy-preserving properties. 

Notably, the Polygon ID ZK-proofs will be used to prove a users’ identity for Know-Your-Customer verification. Thus, eliminating the procedure of sharing government identification or other important documents. 

Mihailo Bjelic, Polygon’s Co-founder, in a press release, stated, 

“Polygon ID is private by default, offers on-chain verification and permissionless attestation. There is nothing in the digital identity space now that ticks all these boxes. It is also a great showcase for how zero-knowledge proofs can help us create a better world.”

Polygon Securing User Identity

The recent developments put Polygon in the league of secure blockchains, which could aid the adoption of its native token, MATIC. The firm also suggested possible future applications of its identity solution, including creating decentralized credit scores, player reputation profiles for Web3 games, and private, censorship-resistant peer-to-peer communication for social applications. 

Notably, BTC’s recent consolidation curbed most coins’ upward momentum at press time. MATIC, too, noted 1.18% daily losses trading at $1.68 at press time. 

FXempire, MATIC, Crypto
MATIC Price Action | Source: FXEmpire

Which Altcoins Will Give Bitcoin and Ethereum a Run for Their Money?

Here we take a look at some of the projects.

Bitcoin, the world’s first cryptocurrency, has been around for over a decade. In 2015, Ethereum entered the blockchain scene as the first smart contracts platform. Both have seen a marked shift in sentiment, driving adoption over the years. The main drivers for adoption have been decentralization and corruption-proof technology.

Adopting trends also hold true for the trading community. Bitcoin’s and Ethereum’s yearly trading volumes are consistently rising.

Adoption has been so significant that not only multinational companies have adopted cryptocurrencies (like Twitter, Tesla, Etsy, Microsoft, or PayPal), but also entire countries. For instance, El Salvador declared Bitcoin legal tender in 2021, allowing citizens and companies to use both the Salvadoran colon and Bitcoin.

While some governments have adopted the decentralized ethos sooner, others continue to withhold this decision for as long as possible. But that’s a topic for another occasion.

The blockchain industry, as a whole, has evolved from the backbone of Bitcoin and Ethereum.

So, there is no way that these two cryptocurrency monoliths would ever leave the sphere anytime soon. But there are new blockchain projects launched every year that solve issues inaccessible to the big players above.

Much smaller by market capitalization, these cryptocurrencies are still in their infancy and have tremendous room for growth and expansion of market share. Investing in and trading with these can prove decisive while steering clear of the often-confusing waters of Foreign Exchange.

Lately, the international Forex broker OctaFX has upgraded its trading pool by adding 25 new and promising cryptocurrencies. Let’s take a look at a few of them.

Cardano (ADA)

Cardano is a direct Ethereum competitor among smart-contract platforms. Its founder aided the development of the Ethereum network before founding Cardano in 2015. Since 2019, Cardano’s (ADA) native token has seen sizeable growth. The Cardano ecosystem is considered one of the most decentralized—having an exceptionally high and rare level of self-initiative within its global community. Most of the Cardano community not only hold ADA but also found pools, adding liquidity to support ecosystem growth.

Solana (SOL)

Solana is another ‘Ethereum killer’, as some like to claim within the crypto community. More than killing anything, Solana dilutes ETH’s dominant market share. Much like Cardano, Solana solves issues of scalability and transaction fees that have been a cause of pain for Ethereum users. 2021 was a big success story for the Solana ecosystem.

Binance Coin (BNB)

Binance Coin is the native token of one of the biggest crypto exchanges—Binance. Binance also launched its blockchain to compete with Ethereum’s financial and computing ecosystem. Binance is one huge success story with just one undeveloped aspect—decentralization. But other than that, the company went through tremendous pains to give an exquisite and reliable user experience. Transaction costs are next to none compared to Ethereum and most other competitors.

Polygon (MATIC)

Matic is a ‘layer-2 solution’ formed to support mass adoption of the Ethereum platform. It aims to solve Ethereum’s onchain scalability restrictions. There were and are others, but Matic did a great job back in 2019–2020 of bundling powerful partnerships, setting up collaborations, and garnering a faithful and committed community. Eventually, this led to a meteoric rise in adoption and market capitalization in the first quarter of 2021.

Zcash (ZEC)

With an uncertain future for fiat currencies and monetary policy worldwide becoming more obscure and unpredictable, privacy coins are in high demand. It was one of the most powerful promises of Bitcoin back in 2009—financial privacy in a digital age. Since then, much has changed. Bitcoin proved not to be as private and untraceable as some had expected. After 2014, coins like Monero, Dash, and Zcash entered the crypto playground. Zcash has great bitcoin-based technology and a magnificent team that stands for what it believes in.

Decentraland (MANA)

Decentraland is an Ethereum-based platform that builds a virtual reality, the Metaverse, where you can buy digital land, engage in it and maneuver through it with other users, and capitalize on the processes occurring within the Metaverse. So, keeping MANA in mind as one of the key players in the much-talked-about ‘Metaverse rush’ can prove lucrative in the long run.

An investment opportunity of a lifetime

These are just a fraction of the cryptocurrencies worth discussing. A vibrant, new industry is unfolding—one that will define the destiny of the ‘Fourth Industrial Revolution’ and the entire new world that ‘Web 3.0’ has in store for us.

Major smart-contract players are serious contenders for significant future market share. While Ethereum will not vanish, its challengers will likely seize opportunities to grow massively. This is true for their governance tokens as well as their cryptocurrencies.

Privacy coins with powerful code and inventive protocols are almost no-brainers, investment-wise. Their straightforward use-case will soon be in such desperate demand—especially with inflation being on the loose long term—that investing in them now will print much wealth for those who dare. Their relative worth will skyrocket compared to today’s prices.

According to many, a virtual, parallel reality called the Metaverse is no fringe gamer’s dream anymore. There is already a vast virtual marketplace manifesting that will soon vividly mimic the real world. So much so that trade, business, administrative procedures, and entertainment will have powerful substitute domains. It’s no niche for some futurologists anymore. Metaverse projects will thrive, no matter what.

In conclusion, these new financial instruments are well worth exploring. Behind them are standing entities akin to what Amazon, Apple, Google, and Facebook have been to the IT industry over the last few decades ago.

OctaFX is a global broker providing online trading services worldwide since 2011. It offers everything one needs to reach their investment goals, providing top-notch conditions utilized already by 7.5 million clients globally.

The company is involved in a comprehensive network of charity and humanitarian initiatives, including improvement of educational infrastructure, short-notice relief projects, supporting local communities and small to medium enterprises.

On a side note, OctaFX has also won more than 45 awards since its foundation, including the 2021 ‘Best Forex Broker Asia’ award from Global Banking & Finance Review and 2021 ‘Best ECN Broker’ award by World Finance.

Bitcoin Price Slowly Creeps Down

Between $4000 and 2-month average

Over the past 24 hours, Bitcoin has lost more than 1% and is trading under $3,900. Leading altcoins lose from 1.5% to 6%. The price level at $4K remains a serious resistance for BTC, and the market clearly lacks a positive attitude to confidently overcome this threshold. As often happens in finance, what does not up, goes down.

From the technical analysis side, Bitcoin caught between resistance at $4,000 and 50-day moving average support, which almost a month ago turned from resistance into support. At the moment, this level passes through $3,657, leaving the potential for decline.

Consolidation and transparency

The dynamics around Bitcoin at the moment is quite multidirectional. On the one hand, the largest Bitcoin wallets balance increased by more than 150K BTC since the beginning of 2019, which reflects the development of the consolidation process. On the other hand, according to Trustnodes, the fourth largest BTC wallet brought out the last 60K Bitcoins, scattering them at different addresses in small portions. But still, major movements are in the market focus, and this close attention makes the market less anonymous than expected at the outset.

Successful Monero hardfork

Monero, as promised, successfully conducted hardfork against ASIC-miners. Network difficulty almost instantly dropped by 70%. It should be noted that a similar scenario was predicted in the past for the ZCash network, but developers allowed ASIC miners to end the era of GPU chips.

Away from non-professional investors

Meanwhile, the head of CFTC, Christopher Giancarlo, said he was positive about the BTC decline and the end of the speculative phase for this class of assets.

We can say that he expressed the regulators’ point of view, which do not like the hype and increased risks for retail investors. And this may indirectly mean that positive decisions related to new investment instruments can be delayed as much as possible in order to keep non-professional investors aside.

This article was written by FxPro

Crypto Market: No longer bears, but not yet bulls

The $4K level is considered by experts as an important resistance, the confident excess will open the way to further entire market growth. The total crypto market capitalization again reached $132 billion. Judging by the confident bulls strike back after the last round of correction, speculators, crypto enthusiasts, and other investors are “probing” coins for a possible increase in the range of growth.

The hardfork in the Ethereum network was successful, the ecosystem works quickly, the block time creation returned to 12.5 seconds, but miners still feel a certain amount of emptiness, realizing that the PoW era is rapidly becoming a thing of the past.

ZCash network difficulty remains near the highs reached at the time of the ASIC mass appearance, the price barely holds the level of $50, and in the case of substantial growth, the miners can massively start selling their ZEC. However, it should be noted that the daily ZCash trading volume increased by 160% to $169 million compared to March last year. As the ZEC price decreased, daily trading volumes grew: in December 2018, after declining to the level around $50, one of the leading anonymous coins attracted trading demand around $150 million per day, whereas, at a price of $200 during summer 2018, daily trading volume fluctuated around $50 million.

Growing demand for cryptocurrencies as their prices fall is quite understandable and will help the industry development. Experts do not expect a new round of explosive market growth in 2019, although they note excellent conditions for investing in the long term. For example, the stock price of Amazon after the collapse of the “dot-com” increased by almost 30,000%. The current situation on the cryptocurrency market is often compared with the events of those years. The only question is which of the coins is now “Amazon” and which is “Netscape”.

CoinMarketCap index indicates the existence of more than 2,000 cryptocurrencies. Crypto hype spawned a lot of scam projects but the first stage of purification is probably nearing its end. On the basis of regulation and the large capital participation, new projects arise, which are likely to change the balance of power even in the Top-10, while 95% of the remaining coins will be forgotten in a few years. This is an interesting time as we are witnessing a new digital revolution.

This article was written by FxPro

The End of the “Wild West” Cryptomarket

The next week of calmness on the crypto market began with barely positive dynamics on all the coins from the TOP-100. The total capitalization approaches the top of the recent range closer to $220 billion. The benchmark Bitcoin (BTC) adds about a percent trading above $6,600. A little-known altcoin Maker (MKR) became an exception out of the sluggish market dynamics, spiking 55% that brought it close to ZCash (ZEC) by market capitalization. The rapid growth began after the news on $15 million investment from the well-known venture capital firm Andreessen Horowitz (a16z) had been published, as well as Augur’s plans to adopt this token along with the ETH had been announced.

The most interesting fact for the crypto community at the moment is the longest market stability in recent history. Any attempts to explain this process lead participants to the conclusion that the cryptocurrency market holds a course for “professionalization”. It was obvious to everyone that the times of the “Wild West” on the crypto market became a thing of the past, the size of the market made it visible to regulators and professional speculators, which may be the cause of the cryptocurrencies’ collapse by $575 billion since the beginning of the year.

Retail investors, except the “hodlers,” left the market, and now its substantial share is distributed among a small number of large participants who are waiting for regulation, as well as preparing the fundamental basis for the further development of financial services in the sector. This may explain that the last 9 weeks the Bitcoin is anchored at the mark of $6,500.

Against the background of a general investors’ demand decline, the ICO sector also suffers. According to IcoData, the amount of raised funds in September compared to January 2018 fell by more than 800% to a minimum of $163 million.

ICO projects discredited the whole sector: instead of serious projects, the tokens began to be issued “on behalf of” pop stars and football clubs, but the top story here is Venezuela, whose president personally promotes the El Petro scam project. Anyway, no one can go against the logic: there is no demand, that is why starting from November, 1 Venezuelans will have to pay a state duty for an international passport in El Petro, that is how Maduro tries to attract at least some real demand to the token.

It is also worth noting that Diar’s study found out that since the beginning of 2018 venture companies’ investments in the blockchain technology and cryptocurrencies have increased by 280% compared to the same period of last year and amounted to $3.9 billion. The market stability and general news background are indicating a very strong demand of the large capital for cryptocurrencies, that can be a sign of the significant reversal of the market to growth in the medium term.

This article was written by FxPro

Privacy Coins Use Cases Away From Money Laundering Perception

Privacy-focused cryptocurrencies have come under immense scrutiny amidst concerns criminals are using them to fuel illegal activities. Law enforcement agencies as well regulators around the world have waged crackdowns against such Altcoins amidst claims they fuel money laundering activities.

Japan is one of the countries that has gone the extra mile and consequently banned all privacy-focused coins. The coins continue to elicit strong interest in part because they make it impossible to track transactions as is the case with other cryptocurrencies. Their tight proof nature has seen them become popular in the underworld.

However, privacy coins are not just for fuelling suspicious and illegal activities. The coins are increasingly finding new applications in day to day operations at the backdrop of increased scrutiny and crackdown.

Privacy Coins for Personal Security

Wealthy cryptocurrencies holders are turning to privacy Altcoins to hide their wealth and obfuscate transactions they carry out. They are also using the privacy coins to hide the amounts of currency they have in their digital wallets.

Hackers had initially perfected the art of tracking bitcoin holders depending on the transactions they carried out on public ledgers such as Bitcoin and Ethereum. By leveraging the security and privacy of the likes of Zcash, Monero, and PIVX, the holders are now able to keep hackers at bay.

Business Transactions Privacy

Businesses that accept cryptocurrencies payments stand a higher risk of losing their completive edge. One of the biggest disadvantages of cryptocurrency transactions is that they occur on a public ledger that everyone has access to.

That said, clients can track payments that a business receives from time to time and get a clear idea of what other clients are paying, say for the same product or service. What this means is that some clients could demand some discounts if they believe they are overpaying.

With the likes of Monero and Zcash, it is impossible to track financial transactions on a ledger thereby allowing businesses to protect the privacy of their operations.

Averting Tainted Coins Dilemma

Tainted coins are becoming a common phenomenon that has left people with huge valueless holdings that they cannot use anywhere. What happens is that whenever a normal cryptocurrency is used for illegal activities, it is blacklisted.

People with blacklisted coins find it hard to use them given the amount of scrutiny that comes as well the fact that people and exchanges turn to don such transactions. However, that is never a problem with privacy-focused coins. With anonymous coins, it is impossible to identify tainted coins.

Freedom of Use

Channeling cryptocurrency payments to counterculture groups, as well as political dissidents and social activities can at times be a big problem. This is especially the case if authorities or the government is against the same.

Making payments using normal cryptocurrencies is never an option as authorities can track the same and know where the payments came from. However, with anonymous coins, one can make payments to their group or organization of choice without having to worry about anything.

Financial Data Protection

Corporations and governments are in constant pursuit of people’s financial data. Such data is used for all sort of activities key among them being gauging individual’s financial behavior. To counter the threat of such entities gaining access to financial data, people are increasingly turning to privacy-focused Altcoins.

Bitcoin might be less traceable than debit credit cards. However, it does not offer the same level of privacy that comes with privacyAltcoins especially in protecting the transaction trail.

“Crypto Sign of Hope”: Legal Uncertainty Suppresses Volatility, But ETH Volumes Are Encouraging

The second day of October and the beginning of the 4th quarter for the cryptocurrency market turned out to be anemic. The Bitcoin (BTC) does not show any price changes second day in a row staying at around $6,500. The Top-100 altcoins are also standing pat. Last week’s star XRP lost almost 3% during 24 hours despite Ripple’s announcement of three major partnerships including an $80 bln. banking giant Banco Santander. It seems that all possible optimism regarding XRP is already considered by investors in prices. At the same time, there is a trend on the growth of networks difficulty: since the beginning of June the difficulty of Zcash network has grown 4.5 times, as for the Bitcoin (BTC) network, the growth of difficulty has multiplied about 1.6 times. While “hodlers” keep waiting for the market reversal, miners are quickly selling the mined cryptocurrency admitting less income or even suffering losses.

It is obvious that at the moment the market is frozen due to legal uncertainty. In the near future, it is American regulators who will determine the direction of the entire sector. Recently the representatives of the cryptocurrency business and companies providing traditional financial services went to Washington to try to speed up the creation of regulation and once again they wanted to explain to the officials the need for a friendly cryptocurrency environment in the United States. Right at the moment, Ripple heads the SAIV lobby group in Washington attempting to influence the US lawmakers. Everything in the world needs to grow up, otherwise, it dies. This law works here too, if the market does not receive any clear signals, new massive sales will be a matter of a very near future.

The largest Asian regulators showed a very negative attitude to the cryptocurrency market. Thus, the Central Bank of India forced Zebpay, the largest crypto-exchange in the country, to stop its activities, banning banks from providing services to cryptocurrency companies. China continues to get rid of all possible crypto activities. New research did not help the market either: WSJ concluded that about $90 million was laundered through crypto exchanges for the last 2 years, although if we would try to imagine the volumes of such schemes within the traditional banking system, it is obvious that the cryptocurrency sector represents a very small share of the shadow business.

The Bitcoin short-term technical picture does not change for a long time, so we turn to the assessment of the situation with ETH. Ethereum attracts buying interest up from the second decade of September, which caused its quotes’ rise from 13-month lows at $164.5 to current $225. It is also notable that from the beginning of the year the trading volumes grew to maximum levels reflecting the return of the demand and they have remained elevated for a long time. On the stock market, this is traditionally considered as a good signal of investors’ demand and maybe a preliminary sign of growth with the nearest target of about $280 from where the recent sale bad begun.

This article was written by FxPro

Invest In Blockchain Study: 60% Of Crypto Projects Have No Working Product

A new study carried out by Invest in a Blockchain, a startup founded in 2017, continues to elicit mixed reactions on suggesting that as many as over 60% of top 100 cryptocurrencies have no working product. According to the study, only 40 of the top 100 cryptocurrencies appear to provide real value to the public.

Invest In Blockchain Study

Some of the cryptocurrencies that met the mark include Bitcoin, Ethereum, Bitcoin Cash, Ripple, Augur, Nano, Monero, and Zcash among others. The biggest casualty of the study was Dash, which missed the mark even on its fork Pivx joining the exclusive list.

The study continues to elicit mixed reactions in part because it is still unclear whether the criteria used to rate the projects is the acceptable standard. However, authors of the study insist certain standards were applied across the board to come up with the final determination.

A working product according to Invest in Blockchain is one that is active and available to the public. It should also have a mainnet that in addition to being active has been upgraded many at times and is well above version 1.0. Businesses, as well as people, should also be using the underlying product be it a DApp, smart contract or digital currency on a daily basis.

According to the Invest in Blockchain, just taking into account the fact that a project is open source and built on top of blockchain does not meet the threshold in affirming a working product. Some cryptocurrencies claim to have a working product just because it is in the public domain yet no one has ever used it.

Suggested Articles

Crypto Scam and Fraudulent Projects

The fact that projects with working products have also had to contend with a string of vulnerabilities all but shows it is not easy to have a working product in the sector. The Verge Network is one such project that was forced to fork its network after a hacker exploited’ some loopholes and walked away with tokens valued at about $1.7 million.

Bancor has come under pressure following a hacking incidence that resulted in the loss of Ethereum tokens worth $12.5 million

While the findings come as a shocker, they come at a time of growing concerns about fraudulent projects and scams in the cryptocurrency space. Recent studies have shown that as many as 80% of ICO projects conducted last year have either collapsed or face an uncertain future given that they lack any tangible product to cling on to.

“If you haven’t run into at least a handful of people who are cynical about the state of the blockchain industry and think it’s mostly scams and vaporware, well… you probably haven’t been into crypto for very long,” John Bardinelli and Daniel Frumkin wrote in the study.

Coinbase Looking Forward and Expand Their Services

Based on the Coinbase latest report the fall in the crypto prices had some serious drawback for the Coinbase App. Coinbase CEO and founder, Brian Armstrong, stated: “After many years of this, I’ve come to enjoy the down cycles in crypto prices more. It gets rid of the people who are in it for the wrong reasons, and it gives us an opportunity to keep making progress while everyone else gets distracted,” Armstrong posted. “We use the down cycles to build a strong foundation so we can thrive in the next growth cycle.”

Although the crypto market has been disappointing this past year, Coinbase is still expanding its business with new services and working towards to bring institutional customers in the cryptosystem.

Two months ago the company announced four new cryptocurrencies which were added to the Coinbase exchange during the past month.

Now the crypto trading giant wishes to adopt five new cryptocurrencies in its platform: Zcash (ZEC), Cardano (ADA), Stellar Lumens (XLM), 0x (ZRX)and Basic Attention Token (BAT).

In June, Coinbase also announced its plan to add Ethereum Classic (ETC).

Coinbase stated that the tokens expansion requires intense research as each coin has a different architecture.

Suggested Articles

Currently, Coinbase supports Bitcoin, Bitcoin, Litecoin, and Ethereum. The expansion can subsequently increase the exchange’s volume and income.

This article was written by Marios Athinodorou, TeleTrade’s market analyst, and commentator. Among others, Marios is delivering weekly trading webinars. Sign up for upcoming webinars here.

The Combination of Forex Broker Services and Crypto-Exchange

The evolution of the cryptocurrency world continues and, while a number of crypto exchanges have been under the watchful eye of governments and regulators, the more seasoned have shown the capability and capacity to deliver the necessary functionalities for traders and investors to earn trading revenue from the cryptomarket, without facing the threat of theft.

A Peer to Peer Trading System on MT4

NordFX has brought a trading platform to the marketplace that allows traders to trade both FX and cryptocurrencies on a single platform, enabling the more seasoned traders and those looking to gain exposure into the world of crypto to do so without having to move away from the preferred MT4 platform.

While there are numerous crypto exchanges offering access to an array of cryptocurrency and token pairings, the MT4 platform for both FX and cryptocurrencies has been a hit as the newly rolled out offering of cryptocurrency trading on the MT4 platform being supported by NordFX’s Fix, Pro and Zero trading accounts, where credit leverage is offered, along with spreads starting from 1 pip on the Fix account, 0.9 pips on the Pro account and from 1 pip for crypto pairs and the option of trading crypto indices.

In addition to the MT4 platform, NordFX professionals have developed an MTEX trading system that has evolved the MT4 platform into a crypto exchange.

A newly developed peer-to-peer trading system enables NordFX clients to trade directly with one another, the advantage being that orders can be executed at favorable prices and with rapid speed execution, reducing, not only the impact of cryptomarket volatility on execution price but also trading fees and spreads.

The key to the success of any peer-to-peer trading system is reach and volume, something that NordFX can provide with clients in over 100 countries, with in excess of 1m active accounts, the reach and liquidity is there to ensure that trading costs are lowered and executions of orders can be at the necessary speeds to limit the effects of market volatility on execution price. All of those create an attractive combination when considering fees charged by other crypto exchanges, not to mention execution speeds that can lead to a quite substantial slippage.

While a large number of crypto exchanges offer a very limited number of cryptocurrency pairings, NordFX hasn’t held back in delivering to its clients and prospective clients with a vast number of pairings that include: BTCUSD; ETHUSD; DSHUSD; BCHUSD; XRPUSD; ZECUSD; BTGUSD; EOSUSD; ETCUSD; NEOUSD; LTCUSD; OMGUSD; XMRUSD; and IOTUSD.

Minimum and maximum lot sizes vary according to pairing, with margins being significantly less than the margins on offer for the less volatile FX pairings. The availability of the MT4 platform and peer-to-peer platform for trading cryptocurrencies will certainly be a crowd-drawing one, as more traders look to gain exposure to the cryptocurrency market while looking to hold on to the possibility to trade the more mature asset classes.

For traders looking to get a more blended exposure to the cryptomarket, NordFX has also created cryptocurrency indices that include 10ALT; TOP3ALT: TOP5CRYPT and TOP14CRYPT.

Adding to the allure of the NordFX MT4 platform and trading cryptocurrencies is the option to, not only go long but also short on the cryptocurrency pairings and indices.

With NordFX, traders are able to hold USD, ETH, and BTC in account balances and, while there has been plenty of bad press of cryptocurrency exchanges being hacked, NordFX has managed to protect trader assets with traders also being given the appropriate levels of security to protect individual trading accounts from theft.

Is this the Best Way to Trade Cryptocurrencies?

The MetaTrader4 platform is one of the most widely used trading platforms in the world and, with a maximum leverage of up to 1:1000 depending upon asset class and pairing, investors require very little in terms of minimum deposit to gain a meaningful exposure to trade cryptocurrencies.

Trading cryptocurrencies through one of the crypto-exchanges can require an effort for the common person with the obligation to open a digital wallet, the verification process at the chosen exchange and the complicated trading platforms at the exchanges. On the other hand, trading through MT4 trading platform via NordFX requires a simple process and a better understanding of price action with the MT4 features, including charts, technical indicators, market orders and more.

The newly developed peer-to-peer trading system enables NordFX clients to trade directly with one another, which is a huge advantage when considering the large client base and savings on fees and lower spreads, both of which are important, particularly in higher frequency trading.

While there may be many alternative trading platforms on offer, the MT4 platform is a tried and tested trading platform that is recognized for its ease of use, with the platform providing the necessary live streaming of prices and charts, a portal to place orders and functionality to manage exposures and the respective accounts. The MT4 attributes make it a natural fit for the MTEX peer-to-peer platform.

At the end of the day, the MT4 platform has been highly popular, since being released in 2005 and using NordFX’s as the chosen broker for trading cryptocurrencies should give traders plenty of comforts. After all, NordFX’s came into existence well before cryptomarket popularity shot through the roof.

Best Cryptocurrencies to Mine in 2018

Whether it’s in reputable publications like Forbes and Newsweek, or your insufferable desk mate Ian who brings Soylent to work and who won’t stop telling you that “it’s the future of the free market, man,” cryptocurrency is just about on everyone’s minds these days.

Brought to popularity by Bitcoin in the early 2010s, cryptocurrency has slowly become one of the most intriguing and innovative new ways of conducting encrypted transactions. In an age where ever more of our information and economic activity takes place online, cryptocurrency has begun to gain prominence as a new method of decentralizing that process.

Here’s the thing, though – while Ian wears too many Homestuck T-shirts to the office and smells a bit like fish, he’s not super wrong about cryptocurrency. The last decade or so has seen an incredible boost in crypto’s profile, and along with that a wave of new currencies for people to mine (i.e. verifying crypto transactions through blockchain software).

Sure, everyone knows Bitcoin, but what other cryptocurrencies are out there? In 2018, a plethora of other cryptocurrencies have arrived, many of which have developed substantial user bases and no shortage of monetary value. If you’re looking to start mining cryptocurrency, you’ll want to keep a close eye on which ones are on the upswing and steer clear of those flash in the pan memecoins and dogecoins.

We’ve been keeping a close eye on which cryptocurrencies we’re most excited about in 2018; to help you decide which one(s) you want to start mining, we’ve put together a handy guide to the best cryptocurrencies to mine in 2018.

5. Bitcoin

  • Launched: January 3, 2009
  • Created By: Satoshi Nakamoto (unknown if he is an individual or group of people)
  • Algorithm: SHA256
  • Anonymity: Low
  • Maximum Supply: 21 million
  • Website: org

Why It’s Good

The O.G. cryptocurrency, Bitcoin remains by far the most well-known – and therefore well-mined – cryptocurrency on the books.

Blockchain and cryptocurrency run on consensus and decentralization: instead of one overarching system determining the value of a transaction, Bitcoin revolutionized the idea of creating a large general consensus from each of its members on what transactions are worth how much bitcoin.

Because of its popularity and notoriety, Bitcoin arguably has the largest consensus-based cryptocurrency system out there, making it a very popular choice for crypto mining.

However, there are some downsides to mining popular cryptocurrencies – whenever a new coin starts getting more recognized in the overall community, the more rigs are dedicated to mining them. This actually makes it more difficult to mine, as each new rig joins the network; the more miners are interested in a coin, the harder the time you’ll have.

In the case of Bitcoin, its popularity is both its greatest strength and its greatest weakness. As a beginner’s coin, it’s very valuable, and the aforementioned consensus means that it’s relatively stable as coins go. However, lots of other cryptocurrency miners have started mining Bitcoin long before you, so in a way, you’ll be fighting for scraps.

(If you do want to keep track of Bitcoin’s ever-changing value, check out this Bitcoin price chart, which updates in real time.)

4. Zcash

  • Launched: October 28, 2016
  • Created By: Zooko Wilcox-O’Hearn
  • Algorithm: Equihash
  • Anonymity: Medium
  • Maximum Supply: 21 million
  • Website: cash

Why It’s Good

Zcash is a smaller cryptocurrency, but it’s a promising entry to the scene that shows a lot of potentials. Headed by founder and CEO Zooko Wilcox-O’Hearn, Zcash was launched in 2016 as a decentralized, open-source cryptocurrency.

Zcash’s major claim to fame is to be the HTTPS to Bitcoin’s HTTP; Zcash works to keep transactions transparent just like Bitcoin, but that transparency is private and highly selective. This adds an extra level of security to these transactions – while blockchains still record and publish transaction data, they don’t include sender/recipient/amount data.

Zcash also lets people have the option to ‘shield’ their transactions, letting you encrypt your content with zero-knowledge proof constructions or other advanced cryptographic techniques. Zcash has its own brand of the former, which they call a zk-SNARK.

Overall, Zcash is the best cryptocurrency to mine in 2018 if you want to invest in a coin that values a bit more privacy compared to the extreme openness and transparency of other, bigger coins. While decentralization is an important value to cryptocurrency, coins like Zcash provide a great alternative to putting all your transaction info out in the open.

If you’re looking to start mining Zcash, two of the best mining pools are Flypool (for the highest profitability) and Nanopool (for the best service).

3. Dash

  • Launched: January 2014
  • Created By: Evan Duffield
  • Algorithm: X11
  • Anonymity: Low
  • Maximum Supply: 22 million
  • Website: Org

Why It’s Good

Originally known as Darkcoin, Dash is very similar to Bitcoin but places a greater focus on secrecy. Dash miners and users enjoy greater anonymity through its decentralized master code network, which effectively makes it impossible to trace transactions.

One of Dash’s most innovative ideas is the introduction of the X11 algorithm, a composite function of a number of hashing algorithms

In just a few short years, Dash has reached a surprisingly large fanbase, likely due to its aforementioned emphasis on security and secrecy. This makes it perfect for mining; it’s stable, established, but not yet broken through into the mainstream.

Today, Dash has a market capitalization of $4.8 billion and handles almost $100 million worth of transactions on a daily basis. It’s small, but mighty, and has a tremendous hold on the cryptocurrency community.

If you want to start mining Dash, some of the biggest mining pools out there are Zpool, Supernova, MinerGate, Coinfoundry, and via BTC. You can use ASIC Miner Hardware to mine, or use your GPU or CPU. Bear in mind, though, that this kind of mining is not really cost effective anymore; it’s best to just stick to ASIC mining or follow the coin’s Reddit community to keep informed.

2. Litecoin

  • Launched: October 7, 2011
  • Created By: MIT graduate (and former Google engineer) Charlie Lee
  • Algorithm: Scrypt
  • Anonymity: Low
  • Maximum Supply: 84 million
  • Website: Org

Why It’s Good

Since Bitcoin is the big coin on campus, and therefore hogs all the attention, it may do you well to focus on a more obscure coin to maximize the value of your mining. Litecoin is a peer-to-peer online currency that allows for global payments at no cost, performed instantly.

Litecoin is a bit smaller in stature than Bitcoin but enjoys a lot of complementary success, as well as no small amount of respect in the cryptocurrency industry. It’s tremendously liquid, and has high trade volumes, meaning it’s not likely to go away any time soon.

Compared to Bitcoin, its smaller size allows for some distinct advantages: transaction confirmation times are much faster, and storage efficiency is much better. Rather than using Bitcoin’s SHA-256 function, Litecoin makes use of the Scrypt has the function used by another early altcoin, Tenebrix, offering a different kind of cryptocurrency that still enjoys robust industry support.

If you want to start mining Litecoin, some of the biggest mining pools out there are Litecoin Pool, Antpool, and; those are great places to get started. Litecoin also features a downloadable client (Litecoin Core) on which you can store your LTC.

1. Ethereum

  • Launched: July 20, 2016
  • Created By: Vitalik Buterin, cryptocurrency programmer, and researcher
  • Algorithm: Ethash
  • Anonymity: Low
  • Maximum Supply: Infinite
  • Website: Org

Why It’s Good

If cryptocurrency mining gets you the most value for jumping onto smaller coins earlier in their lifespan, Ethereum might be a good place to start. An open-source, blockchain-based OS and computing platform, Ethereum is public, secure, and in the early stages of its lifespan.

Proposed by Vitalik Buterin, Ethereum started around 2015 with a brief run of around 12 million pre-mined coins, only to see a huge spike in popularity over the past year. In 2017, the coin increased its value by 13,000%, making it clearly a coin on the rise.

Though it’s only been around for a couple of years, Ethereum has enjoyed a tremendous amount of success – right now, Ethereum is the second priciest crypto coin on the market. While it’s incredibly difficult to mine, this also means that there’s a greater likelihood of profitability – not as many people will be doing it, so you can reap the benefits with the right mining rig.

Ethereum runs on a modified version of Nakamoto-style consensus, using transaction-based state transitions to track value and keep records. With the SHA-3 hash algorithm, Ethereum miners typically mine the coin using AMD and Nvidia cards; popular pools for Ethereum include 2Miners, Ethpool and Ethermine. For GPU mining, it’s best to use Ethminer.

While Bitcoin enjoys great popularity, it’s too established to give you the kind of profitability you want right away. However, Ethereum is perfectly positioned in 2018 to start mining, allowing you to get on the ground floor of a rapidly rising cryptocurrency. For that reason, we think it’s the best cryptocurrency to mine in 2018.

Join our Telegram Channel

Top 5 Altcoin Cryptocurrencies Exchanges

What is a Cryptocurrency Exchange?

Cryptocurrency exchanges are businesses that operate like stock exchanges where people go to buy and sell digital currencies. Simply put, they are online platforms where people exchange cryptocurrencies for other cryptocurrencies or fiat currency.

There are two types of cryptocurrency exchange

Fiat Exchange

A fiat cryptocurrency exchange is an exchange that allows the use of fiat currencies (USD, Euros or GBP) for the purchase of digital currencies.

Cryptocurrency to cryptocurrency exchange

Cryptocurrency to cryptocurrency exchange allows virtual currencies to be traded for each other. In this case, a person may hand over Bitcoins to get a certain amount of Ethereum.

Below is a list of the top 5 cryptocurrency exchanges in the world.

  1. Coinbase
  • Fiat Support: Yes
  • Order Types: Market, Limit Stop Limit
  • Transaction Fees: No Marker fees, moderate taker fees

Coinbase should be a good start for novice traders looking to find their way in the cryptocurrency business. The cryptocurrency exchange comes with a user-friendly interface that makes it easy to buy and sell cryptocurrencies.

Coinbase is a reputable cryptocurrency exchange, backed and trusted by millions of customers. The exchange platform makes it easy and secure to buy, use, store and trade a wide range of cryptocurrencies.

The exchange accepts credit cards, and banks account for the purchase of cryptocurrencies, ranging from Bitcoin to ether, Litecoin, Ripple among others. Coinbase does not have restrictions on who can carry out transactions on the platform as it allows people from all walks of life regardless of jurisdiction.

The fees for buying a cryptocurrency using a credit card are currently pegged at 3.99%, while fees for bank transfers are pegged at about 1.49%. The exchange has a sign-up bonus of $10 in Free Bitcoin for the first $100 order than one makes.

  1. Binance
  • Fiat Support: No
  • Altcoin Support: Yes
  • Order Types: Market, Limit Stop Limit
  • Transaction Fees: 0.1%

Binance is a Hong Kong-based cryptocurrency exchange that charges some of the lowest fees for cryptocurrencies transactions. The low transaction fees are made possible by the fact that the platform is funded by its underlying coin BNB.

Binance is a crypto to crypto exchange, whereby cryptocurrencies are used to buy other cryptocurrencies rather than fiat currencies. The platform comes with two interfaces one Basic, which is designed by those that are just getting started and Advanced suited for experienced users.

Binance is perfect for those looking to trade an excellent array of cryptocurrencies at low transaction fees of 0.1% per trade.

  1. CEX.IO
  • Fiat Support: Yes
  • Altcoin Support: Yes
  • Order Types: Market, limit stop limit
  • Transaction fees: Moderate taker, lower maker is a fiat based cryptocurrency exchange that allows people to buy a wide array of cryptocurrencies using fiat money. The exchange comes with a personalized and easy to use dashboards for trading various cryptocurrencies. The exchange also offers security, high liquidity, and cross-platform trading.

Based in London, the exchange is available to 99% of the countries in the world. It is also the first cloud-mining provider as it also doubles up as a multi-functional cryptocurrency exchange. The exchange is perfectly suited for individual businesses and corporation looking to buy various cryptocurrencies with no limits.

The exchange compensates for the lower transaction fees it charges by charging a premium on Bitcoin price.

  1. HitBTC

Launched in 2013, HitBTC cast itself as an advanced Bitcoin Exchange that allows people to trade bitcoin in exchange for other cryptocurrencies such as Ripple, Dash, and Zcash.   The exchange also provides support for Ethereum, Litecoin Dogecoin, and Monero among others.  It claims to provide the most reliable, fast and powerful platform solution in the market.

The cryptocurrency exchange uses the 2-factor authentication advanced encryption technology and uses cutting-edge matching engine technologies.  The exchange also offers cold-storage services for cryptocurrencies.

HitBTC charges as low as 0.1% in fees for every marker trade that people make. Traders also stand to enjoy 0.01% rebate on LP orders. The exchange has no limits on deposits and withdrawals.

  1. YoBit

YoBit is a Russian based cryptocurrency exchange founded in 2015.  YoBit platform allows people from all walks of life to buy and sell a vast array of cryptocurrencies.  In addition to bitcoin, the exchange offers support to hundreds of other Altcoins.  The exchange currently supports two fiat currencies, the U.S dollar, and the Russian Ruble

Some of the deposit methods include Payee AdvCash, Perfect Money, and QIWI. The exchange also accepts cryptocurrencies from digital wallets which can be exchanged for other digital currencies in the trading platform.

YoBit does not charge any trading fees, it is also free to deposit money into the account. Withdrawal fees vary depending on the mode of transfer. Cryptocurrency withdrawal fees are pegged at 0.0005, Perfect Money at 5%, Payer 7% AdvCash 4% Credit card 4%.

YoBit offers the option of two-factor authentication for people who wish to secure their account as an added layer of security.  Also, a bonus program rewards frequent users of the platform.


While all cryptocurrency exchanges serve the purpose of letting people buy and sell cryptocurrencies, they differ a great deal. That said, when it comes to selecting a platform to use to buy and sell cryptocurrencies, it is essential to look at exchange fees as well as the number of coins supported, as well as the location in which it is available.

Customer support is also essential as from time to time one may need help to be able to complete certain operations.  It is also important to consider whether an exchange is a fiat or crypto-based.

Financial Services Agency of Japan Bans Anonymous Cryptos

Coincheck Says No to Monero and Others

Coincheck, one of Japan’s largest cryptocurrency exchanges, has announced that it is not going to allow Monero, Zcash, Dash, and Auger to be traded on its exchange any longer. This has occurred as Japan’s FSA, Financial Services Agency, has increased internal obligations on cryptocurrency exchanges and made it clear the prospects of more severe regulations lurk regarding all ‘private’ cryptocurrencies, meaning cryptocurrencies offering anonymous use – and Coincheck has reacted.

Cryptos such as Monero, Zcash, Dash, and Augur among others could continue to be hit via the growing regulatory climate. The FSA no doubt wants the ability to be able to scrutinize the identity of traders in an effort to potentially collect taxes.

However, they are certainly also concerned about the illicit use of cryptocurrencies which allow users to make transactions under a veil of darkness. The FSA is particularly focusing on stemming illegal payments via criminal activity, and the hacking and ransomware subculture which in theory makes using anonymous crypto easier to escape investigative eyes.

Private Cryptocurrencies under Pressure via Government

Traders who were alluded to cryptocurrencies because of their ability to be use coins anonymously over the past couple of years have dealt with the increasing fact globally, their real identity has become commonly demanded.

And traders who used cryptocurrencies as a way to profit from the growing value of the industry without the oversight of governments have found out they are not exactly working in the shadows anymore. In the U.S the Internal Revenue Service has made it clear they have the ability to track identities and expect to collect taxes on profits made while trading cryptocurrency.

Suggested Articles

Japan is a Leader within the Regulatory Vanguard

Japan is a leader in cryptocurrency regarding use and their trading. And the Japanese government is at the forefront of jurisdiction as their regulatory environment is watched and mirrored by others.

The possibility that anonymous coins may increasingly be put under pressure because they may lose the ability to be traded by the leading cryptocurrency exchanges should be monitored, along with their values.

The exclusion of these cryptocurrencies also raises the bar in a way for the advent of more KYC regulation and AML laws to become part of the vanguard. In the United States, Europe and many parts of Asia ‘Know Your Client’ due diligence is an integral part of cryptocurrency compliance and being able to trade nowadays.

A recent statistical report from Japan’s FSA estimated that there are approximately 3.5 million people in Japan who trade cryptocurrencies.

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

GPU and ASIC – A Correlation and Barometer for Cryptocurrency Traders

GPU, which are Graphics Processing Units, and act as a primary computing device for cryptocurrency mining because of the power they deliver technologically to the masses, may serve as a compelling correlation for cryptocurrency traders who are willing to examine corporate reporting among chip makers and the value of their own digital asset holdings.

While companies like Intel, Nvidia, and ADM control a predominant amount of the GPU marketplace and derive a solid percentage of their core business from selling the GPU products to cryptocurrency miners, revenues are predicted to fall.

These companies via their quarterly earnings forecast that the purchasing of GPU technology will begin to decrease in the coming quarters and year.

The eroding profit equation may be a perception among their analysts who suspect a decline in ‘mining’ is coming because of the rising costs associated with mining enterprises, but it is also certainly related to the changing technological composition of engineered – open source decentralized architecture.

Miners within the digital asset world continue to seek methods which allow for stronger and faster computational applications to be used as bigger mathematical calculations are needed because of the increasing amount of hash functions needed to create a single coin because more ‘nodes’ are needed among the likes of Bitcoin, Litecoin, and Zcash.

The biggest competitor emerging against GPU in the computational field is ASIC (Application Specific Integrated Circuits), and potentially creeping onto the horizon is technology via Google – which is reportedly close to launching – its TPU2 technology, which is an improvement on its Tensor Processing Unit and could prove a wildcard should Google decide to share this power – but this remains to be seen.

Many cryptocurrencies which use mining to create coins are trying to fight back against stronger applications such as ASIC because these stronger applications eliminate the ability of ‘the common man’ to be part of the mining landscape – and put these capabilities largely in the hands of only the well-funded.

Decentralized cryptocurrencies were supposed – in theory – to battle against the powerful. The control of cryptocurrency mining is predominantly in the hands of the elite when it was actually meant to give a voice to those who felt concentrated authority was an ‘evil’ – like central banks and fiat currencies which were argued to be false gods by some of the creators behind blockchains and their respective cryptocurrencies.

For instance, Vertcoin is said to be actively fighting against the use of ASIC’s – but problems persist in actually proving the systems – like Vertcoin’s which have built to keep out the big players – actually work. Vertcoin has reportedly said, it will initiate a ‘hardfork’ if it feels it is vulnerable to ASIC miners.

The question for traders, speculators, and investors in cryptocurrencies is if the correlation of sales of GPU and ASIC’s can be formulated into a working index to judge values in the digital value realm. We are not looking to solve the question here, but to point out the possibility that the technology behind ‘mining’ cryptocurrencies can be monitored and used as a potential sentiment gauge.

Cryptocurrency traders have an interesting correlation which may give rise to a method in order to judge market psychology for values of digital assets via the world of GPU and ASIC as a ‘viewable commodity index’. Thus, a barometer for relative strength and outlook of the broad cryptocurrency marketplace to decipher where the next price trends will develop is feasible.

ASIC is dominated by Bitmain of China. And cryptocurrencies such as Monero are aware of the grip on cryptocurrency mining Bitmain controls and are talking about making changes to its Proof of Work algorithm in an effort to confront Bitmain with modifications which they would have to recalibrate. And it should be pointed out that players like Samsung, Fujitsu, IBM and a host of other companies are developers of ASIC systems.

Suggested Articles

While the sales of GPU are important via figures for the cryptocurrency community, the actual chief market for GPU are gamers which need the chips for the graphics interface. The high costs of GPUs because of price gauging caused by demand via the mining community has actually hurt the GPU market because gamers were not willing to pay the escalating prices in the resale market.

It is thought that a decrease of prices in the resale market for GPU devices will actually help companies like Nvidia, ADM and Intel perhaps – because they will once again start to pick up market share from game developers.

The climbing costs of ‘mining’ to create nodes becomes more expensive as more power and greater computational power is needed to create a coin.

Large companies have emerged within the ASIC landscape who can afford to mine cryptocurrency, and they are always looking for technical advantages to develop stronger capabilities of ASIC as an ingredient mechanically to effectively generate profitability.

Traders should not necessarily believe a decline in GPU means the value of cryptocurrencies will drop, but instead should look at the total computational application environment to make a judgment regarding sentiment and the trends in value it may create. Proving – as always – there are no simple formulas to determine worth.

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

How to Buy ZEC: The Full Guide to Zcash

How to Buy Zcash (ZEC) – A Beginners Guide

The first step in the Zcash journey for investors will be deciding upon which wallet to use to store the Zcash coins. Investors have the choice of downloading the official Zcash client wallet or selecting one of the 3rd party wallets available.

Step 1 – Create a Zcash Wallet

The official Zcash client wallet was initially developed for Linux, with the wallet now also compatible with Windows and MacOSX thanks to the Zcash community. Therefore, we recommend this wallet as it is compatible with Zcash features.

Third party wallets are few and far between, with most wallet providers unable to cater for the privacy component of the Zcash protocol.

As is the case with other cryptocurrencies, hot and cold wallets are available, which comprise of internet wallets, hardware wallets, local wallets and exchange wallets.

Internet Wallets: Internet wallets can be downloaded for desktops and mobile phones and it’s important to use particularly strong passwords and it is also encouraged to enable 2-factor authentication where possible.

Web-based wallets that are compatible with Zcash Transparent addresses include:

Coinspot; Jaxx; Freewallet;;; HolyTransaction; Bitpie and Coinomi.

For those looking for the greatest degree of anonymity, Jaxx; ZCash Swing GUI Wallet, Agama, and ZCash Cockpit UI Wallet are recommended, while Coinomi caters for the greatest variety of cryptocurrencies.

Hardware Wallets: Hardware wallets are considered to be the safest way to store Zcash coins, though at present they only support Zcash transparent addresses and are on the expensive side, which some will consider acceptable when considering its recovery capabilities in event of coin loss.

Hardware wallets include TREZOR and Ledger.

Local Wallets: While local wallets are considered to be on the more technical side for use, they support Zcash’s private addresses and have been developed by Zcash and the Zcash community. It is important to frequently backup the wallet

Finally, exchange wallets are also available, though none support Zcash privacy characteristics and should also be the choice of last resort, particularly when considering the issues faced with exchange wallets and the risk of being hacked.

Step 2 – Buy Zcash (ZEC)

Once the wallet has been created, there are two ways in which ZEC coins can be purchased. The first option to buy Zcash (ZEC) would be with fiat currencies, the second option is obviously with Bitcoin or Ethereum.

Buying Zcash with Fiat Currencies

In the case a trader is not holding Bitcoin or Ethereum and wishes to buy Zcash with fiat currencies, there are some exchanges that provide the option to buy Zcash with USD or EUR.

HitBTC allows a trader to purchase Zcash (ZEC) with fiat currencies. Another exchange that provides Zcash with USD is CEX.IO.

Buying Zcash with Bitcoin or Ethereum

The other option to buy Zcash ( ZEC) is with Bitcoin or Ethereum. If you already hold Bitcoin or Ethereum, you can move forward to the next step.

There are many exchanges that provide Bitcoin or Ethereum for fiat currencies. Coinbase is a popular exchange that allows traders to purchase Bitcoin or Ethereum with US dollar.

After using the link to go to Coinbase, select “Sign up” and enter your personal information. Coinbase treats client identification very seriously, so be sure to verify your account by supplying a phone number, uploading an image of your photo ID and verifying a credit/debit card or bank account.

After completing these steps, select “Buy/Sell” at the top menu.  Select “Bitcoin” and enter either the number of coins or the amount you want to spend. Bitcoin can be purchased in fractional units and the system will do the math for set amounts of local currency. Verify the information you have entered and “Buy”, and then “Confirm buy.”

If you are located in a country that Coinbase services are not available, you can purchase Bitcoin in other exchanges such as CEX.IO or Coinmama.

Step 3 – Exchange Bitcoin or Ethereum for Zcash (ZEC)

Now go to an exchange such as Binance or HitBTC to exchange your Ethereum or Bitcoin for ZEC.

First, enter the exchange and open an account, verify the account in the email you received. Then, you need to fund your account with BTC or ETH that you have purchased before at one of the exchanges above. In order to do that, click the “Funds” tab and search for BTC or ETH, choose “deposit”, copy the BTC or ETH deposit address and paste it to the exchange that you withdraw the money from. The process might take up to one hour (vary according to different exchanges).

Now, after completing these steps, you have Bitcoin or Ethereum in your HitBTC or Binance account. Click the “exchanges” and search for ZEC/BTC or ZEC/ETH, enter the amount and click “Buy ZEC”.

Suggested Articles

What is Zcash?

Zcash utilizes cryptography to deliver a significantly greater degree of privacy than its peers, with the evolution of Zcash starting from Zerocoin protocol that had been code adjusted into Zerocash before the ultimate release of Zcash in 2016.

While Zcash payments are published on a public blockchain, the sender, recipient and amount of a transaction are kept private. The privacy functionality on the blockchain is an optional one, where the user has the choice of taking the privacy option.

ZCash is based on peer-reviewed cryptographic research, built by a security-specialized engineering team on an open source platform that is based on Bitcoin Core’s codebase. Privacy is considered to be the key enhancement over Bitcoin, with zero-knowledge proof cryptographic techniques being used to guarantee the validity of transactions, whilst maintaining privacy.

Zcash Technology

ZCash encrypts the contents of transactions that have been selected to remain private and, because payment information is also encrypted, the protocol uses cryptography to verify the validity of transactions.

In the case of Zcash, a zero-knowledge proof construction called zk-SNARK is used that was developed by the Zcash team. The construction enables the network to maintain a secure ledger of balances without disclosing the parties or amounts involved, with the zk-SNARK protocol proving that there is no fraud or theft.

The basic concept is not too dissimilar to Bitcoin, where Zcash facilitates public payments, the only difference being that Zcash payments remitted from a transparent address to a shielded one protect the remittance amount. The option is also available from shielded to transparent, where the remittance amount is unprotected and from transparent to transparent addresses that will have information fully disclosed.

As at the end of 2017, only 4% of Zcash coins fell within the shielded segment, though the number is expected to increase as a greater number of wallets are developed to support Zcash coins.

As is the case with the likes of Bitcoin, Zcash has a fixed total supply of 21 million coins. Within the first 4-years, 20% of the coins generated will be distributed to investors, developers and a non-profit foundation.

Zcash went live in October 2016 and currently sits at $750, following a 149% rally since 1st December 2017, with Zcash having rallied 965% in the calendar year 2017.

How to Trade Zcash with CFD’s?

For those looking to trade Zcash, another method to gain from Zcash volatility is through CFDs.

A CFD is an instrument that closely tracks the movements of an underlying asset, in this case, Zcash, with traders using CFDs never actually owning the asset, but instead establishing a contract with a broker.

Leading brokers that offer a Zcash CFD trading platform includes IQoptions, which has a presence in 183 geographies, has monthly trading volumes of close to $11bn and accepts debit and credit card payments.

For traders looking for higher frequency trading of Zcash, there are many benefits of trading with CFDs that include:

  • The ability to go either long or short to take advantage of the dips as well as the rallies.
  • Trade across a wider range of pairings to take advantage of the volatility seen on both sides of the trade pairs.
  • Take advantage of margin financing platforms that limit initial capital outlays, whilst taking on leverage to enhance returns.

For traders looking to increase exposure to the volatility that persists across the cryptocurrencies, some caution is needed with the inclusion of stop-loss limits advisable to avoid significant losses, particularly when leverage is included that could result in losses that may exceed initial investment sizes. Leverage on offer can be as great as 50x, with traders required to fund margin calls in the event of trades going the wrong way.

Zcash Futures

In addition to trading CFDs, Zcash futures trading is also an option available to traders, offering Zcash futures in BitMEX.

CFDs and futures contracts are both geared derivative contracts, the key difference being that a futures contract is an agreement to buy or sell the asset at a set price on a specific date in the future.

CFDs have no set future price or date and behave more closely with holding the actual asset from a trading perspective, with the buy or sell price not reflective of market sentiment towards the asset class on the settlement date, as is the case with futures contracts.

That said, interest charged on leverage in a CFD trade is daily, while baked into the asset price in a futures contract. From a traders’ perspective, CFDs do tend to be the preferred choice, with CFDs considered to have greater flexibility.

The Unique Mining Model of Zcash

Mining provides an alternative source of Zcash coins, which is an option for those willing to provide support to the Zcash network from home and interested in building a mining rig.

While it has been possible to mine for Zcash using computer processors (CPUs), there have been significant advancements in both hardware and software, which has left CPU miners with very low returns, as miners with computers built with one or several graphics cards (GPUs) taking over much of the hashrates.

The good news for miners with GPU mining equipment is that they will also be able to mine for other cryptocurrencies including Ethereum, but not Bitcoin that has progressed to ASICs mining rigs.

Once a miner has selected the GPU hardware to build the GPU rig, the next step is to select the most appropriate software.

While the Zcash team have developed software to support mining with CPU rigs, miners will need to look elsewhere for software that supports GPU mining rigs.

GPU software for mining includes, but are not limited to Optimizer, Claymore, NEHQ and Nicehash EQM, with some research needed to understand the best software – GPU hard combinations.

Once the hardware-software combination has been decided, assuming that the miner is not looking to build a mining warehouse, a mining pool will need to be chosen.

Mining pools provide individual miners an opportunity to link up with other smaller miners and then share the rewards based on individual hashrate contributions.

The downside to joining a mining pool include fees charged by the pool, which not only cover server costs but also fund the pool organizers who are looking to make a profit. It’s strongly advised for those looking to join a mining pool that they identify a reputable pool that is known for its honesty and does not have any reputational issues stemming from previous members of the pool not receiving fees earned.

Zcash mining pools include, but are not limited to Zcash4U; MININGSPEED; Coinotron; Dwarfpool; MinerGate and amongst others.

Key details for interested miners include:

  • The total number of Zcash coins is limited to 21 million. The Zcash team are unable to estimate how long it will take for the 21 million coins to be mined, with technological advancements and the increased difficulty in the verification process an unknown.
  • For Zcash, the Proof-of-work algorithm is Equihash, which is resistant to specialized mining hardware such as ASICS that are used to mine Bitcoin.
  • Block Rewards: A total of 50 Zcash coins will be issued every 10 minutes, with 10% of coins mined being distributed to the Founders Reward.
  • Block Reward Halving: The Block Reward will halve every 4-years, as is the case with Bitcoin.
  • Founders Reward: The Founders Reward was established to fund the developers for building Zcash and to meet ongoing development costs. For the first 4-years, miners will receive 80% of the block rewards, with 20% going to the Zcash team. After the first 4-years, 100% of block rewards will then go to the miners, with miners receiving 100% of transaction fees from launch.

The Benefits and Risks of Zcash

While ZCash and its ability to provide a private transaction environment have been an attractive proposition for investors, the cryptomarket is changing and more and more exchanges are calling for disclosure of identification.

Much of this has stemmed from regulatory pressure, with governments and central banks imposing rules on exchanges relating to money laundering and “know your customer,” with exchanges being threatened with closure if they fail to meet the ever-changing regulatory landscape.

Other concerns over the near-term include the fact that many wallets that support Zcash do not cater for the privacy component of Zcash’s blockchain, which is certainly a negative for Zcash and acceptance of its cryptocurrency has an alternative to Bitcoin. Added to this is the fact that vendors are also keen to know with whom they are dealing, the anonymity raising some concerns.

On the upside, however, is the fact that the cryptomarket landscape is ever changing. The security strength supports the view that Zcash can survive and break through current barriers, though it may take some time.

As with any cryptocurrency, success will ultimately come down to whether there are prospects of the currency being accepted in the mainstream. For now, the list is small and how that list grows will be key to Zcash’s success.