Claim Your Bitcoins

The new episode of Blockchain and Booze was all about the Layer-two solutions and their use on the Ethereum network or Immediate Edge. The show featured Stani Kulechov, CEO of Aave, Jack O’Holleran, CEO of Skale, and Antonio Juliano, founder of dYdX, the experts of the blockchain industry. The discussion was started with the high fees and was quickly converted to the advantages of decentralized finance. Transferring an Ethereum transaction is becoming more and more expensive and the network gets heavily congested; Layer-two solutions can be very helpful in this situation, it can decrease the load of the network and can also make transactions fast and less expensive. As Aave’s Kulechov stated, the disruptive potential of layer-two solutions is massive. Not only are they incredibly promising, but they are still a nascent technology that has yet to be fully implemented: “Lots of these [layer-two] developments on Ethereum aren’t even being deployed yet. We’re still very early on scaling up, but the huge number of people executing on layer one is an issue.” The three guests are in support of Layer-two as it can be a big step towards making the decentralized system more efficient and powerful. But the question that arises here is how Layer two actually work does.

Working Procedure of Layer-two explained:

When coming to the working procedure of Layer-two O’Holleran gave a brilliant example that stated, the settlement layer of Ethereum is the game of poker and layer-two is the record of gains and losses. In the games of poker, the players don’t cash out their winnings after every game instead, they just maintain a record of their wins in a ledger at the table; after the player decides to not play anymore, and they cash out their winnings. Similarly, in layer-two solutions, the users can trade with tokens in the layer-two network till they want to exchange it with Ethereum.

DeFi:

DeFi is short for Decentralized Finance, or which has no authority to control over. DeFi has many advantages such as transparency, free for all services, etc.; upon asked about the “end goal’ of DeFi is, O’Holleran responds after a short pause, “The power of these systems goes beyond DeFi. Marketplaces, social media, gaming: These can all be disrupted through decentralization. Ultimately, we want to democratize finance.” And Juliano adds to the statement “The goal is really big. The financial system is the most permissioned, trusting system in the world. We can build something parallel in DeFi — small at first, but eventually, it could be more profitable to use DeFi because of better interest rates.” The DeFi space appears huge and stable to many people as it crossed $100 billion but, when it comes to the financial view it is a very meagre amount. O’Holleran predicts that “The smart CeFi business will begin to figure out how to inject them into DeFi, and the DeFi space will improve as a result.” CeFi means Centralized Finance and it means that some companies and institutions store their funds to provide services.

Sygnum Singapore, a subsidiary of a Switzerland based cryptocurrency bank, is finally expanding their services after securing the latest new regulatory approval from the government.

According to their latest announcement, they have received the in-principle approval from the Monetary Authority of Singapore(MAS) and three additional regulated activities under their CMS licence, which was granted in 2019.

The latest in principal regulation approves Sygnum to incorporate new tools for corporate finance advisory services, which deals with digital assets and capital market tokens.

Sygnum also plans on offering its tokenization solution in Singapore. They intend to start a newly launched venture capital fund, the SBI, Sygnum Azimut Digital Asset Opportunity Fund.

Some of their other future projects include providing corporate finance advice to Web3 platforms and digital creators. They are also looking to work with non-fungible tokens(NFTs) and metaverse assets.

Sygnum is already operating its own tokenization platform in Switzerland, which allows asset owners to issue their tokens. It represents fractional ownership of multiple traditional securities, digital assets and NFTs. Some of them even included a digitized Picasso painting and a CryptoPunk NFT. the rise in the investments and multiple assets is readily increasing with their company!

The latest news states that Syngoum is planning its next steps again. They have raised about $90 billion by now, which increases the value of their company to $800 million within early January 2022. This raise was led by the Hong Kong firm Sun Hung Kai & Co. and other investors such as Animoca Brands and Canada’s Meta investments.

The U.K.’s Advertising Standards Authority or ASA is actively on a banning spree on different applications. In recent days, they have imposed an official ban on two mobile application ads from a popular trading platform Crypto.com. The ad was all about the ease of purchasing cryptocurrencies such as BTC and the high rewards on these digital assets.

Considering the popularity of this industry and the strict legislation, the ASA flagged these ads for breach of different financial rules such as not effectively stating the potential risks of this investment, abusing consumers’ lack of market knowledge, and more about the limitations of crypto.

Even though the brand removed the ad, they did counteract with a strong debate stating that the ad intended to educate the users how they can earn up to 8.5% P.A. through yielded investments and not just specific crypto assets. Similarly, the ad also intended to portray the quick process of crypto purchases for their users.

These limitations have hindered this brand from reaching the mainstream audience. According to a discussion with a reporter of heraldnet, they stated how they want to accelerate the transition to crypto by offering such seamless services. They ensure that the processes are fully compliant and adhere to the guidelines.

ASA has further advised the brand that such adverts should prominently display the risk factors of such investments. They also said that using credit cards could bring higher interest rates, extra fees, and more, prohibiting buying cryptocurrencies.

According to the latest news, Crypto.com is now willing to work alongside ASA’s guidelines for their further marketing campaigns for the U.K. audience.

More such adverts were previously flagged by the ASA, such as the marketing campaign from Coinbase, Kraken, eToro, etc., for spreading misleading information. The Arsenal F.C. and Chiliz were also accused of taking advantage of the inexperienced crypto buyers with these marketing adverts.

Dogecoin is a cryptocurrency that is currently seeing good gains in the market. It started in 2013 as a joke, and it was meant to pay a satirical homage to bitcoin at that time. However, it has come a long way since then and has garnered support from many tech giants in recent years. Investors have made a fortune with this cryptocurrency as it has increased many folds in value.

It started as a joke

It is surprising to note that this cryptocurrency was named after an internet meme that went viral in 2013. The Shiba Inu dog was the inspiration behind the name. The wrong spelling of dog is intended to be a joke, and the exact way to pronounce this is “dohj coin”. Billy Markus, the co-founder of this cryptocurrency, mentioned this in an interview. However, many people just pronounce it as doggy or dog for the sake of convenience.

Support from tech giants

After getting good support from several tech giants like Elon Musk and other celebrities, the popularity of the cryptocurrency grew by a huge margin. It is not surprising to note that Dogecoin has now become one of the top cryptocurrencies as per market value. Several media publications have confirmed this, and the value of the crypto asset has continued to rise in recent months.

According to sfgate.com, the current market value of Dogecoin is more than $50 billion, which speaks volumes of its popularity. Several celebrities and other brands have promoted the crypto asset through their tweets and other modes. The cryptocurrency can be brought online using a credit card and other payment modes on trading platforms like Robinhood.

Popular trading platforms like Coinbase have allowed investors to trade in Dogecoin. There is a good demand for this cryptocurrency as it has given good profits for the earlier investors.

For the first time since the beginning of January, after a huge raid of 15 per cent in 24 hours, Bitcoin has sunk below $30,000. This Friday morning Bitcoin and crypto markets blew as the selloff, which started on Thursday the 21st of January, went on in the Asian exchange session with fervour.

Since yesterday, when Bitcoin dumped to $29,000, it has shed a massive 6,500 dollars. According to Tradingview, the BTC intraday peak was $35,500 and currently, the $30k level was restored.

Bitcoin price has corrected by 30 percent to the amount at which it is currently based (as is the typical one when looking at past market cycles) since it is all-time high at $42,000 on January 8 this year. Corrections are healthy and must be made, though, at which pace things go uninitiated on crypto markets. On the last bull run in 2017, several 30% corrections to the all-time high level were made on the route to December 2017.

As predicted, their big brother’s Altcoin lemmings follow in the abyss. The gross capitalisation of the market in the last 24 hours has fallen by nearly $150 billion, which according to Coingecko is now about $870 billion.

Ethereum has lost equal value to Bitcoin, which has been falling 15 percent to $1,150 as of today and has hit $1,050 as the daily low and is nevertheless advancing strongly. In the 11 percent slide, Polkadot fell below $16.

The rest of the Altcoin with Cardano, Bitcoin Cash, Chainlink, and Stellar whacking a little heavier are double-digit dumps around the board. ‘Plan B’ was an uneasy point of view from the stock-to-flow platform that the pricing model already has a 30% correction in place.

$31.5k Bitcoin is not as good as $40kbut investors expected the BTC price to the S2F model? Model S2F, like clockwork, is right on the road. The only way to deal with this is to have patience and give the investment a try if you want to ensure better growth.

The Technical Analyst ‘Altcoin Sherpa’ reported that a significant correction and creation of the commodity stabilisation system would be bullshit for long-term gains. The $30k area must however be maintained; recent bounces have led to lower heights which mean that the correction has not finished. Under this point, a failure could lead to 40 percent removal, down to 25 miles.

You are definitely searching for a bank that will help you handle your digital currencies in case you are a bitcoin user. Although, when you do not even look in the right places, this can be a challenging mission. Most banks actually refuse to conduct trades of cryptocurrencies. A big financial institution is mostly never crypto-friendly. It all leaves it a little hard for crypto dealers to locate the correct bank. This is the only reason this article will provide you with 6 important and useful tips to choose the ideal bank that is crypto friendly.

1.  Communicate with bank representatives

You could be up for just a rough ride when you’re using your standard bank account to purchase cryptocurrencies. As such purchases may appear odd to your bank, your bank account is at an elevated danger of becoming indefinitely terminated. This is why, before you make your first deposit, you have to communicate with the bank staff members. You must guarantee that their practises are in accordance with the transfers that are about to go into the account.

2.  Read online reviews

Grab the benefits of the available web posts made by people in the field. Any blogs excel in analysing anything relevant to cryptocurrency. On such kinds of online platforms, you can find a large variety of valuable material, and they can definitely be of great assistance in your quest for an ideal bank. Be certain that only credible intelligence sources are taken into consideration, so you can stop uniting with marketers.

If only a single banking firm appears to be consciously supporting an analysis, their analysis is generally too skewed to be beneficial. Search for resources that list each bank and its services with both advantages and disadvantages. Accurate feedback is neither solely constructive or derogatory, but all the positives and drawbacks of the issue are taken into account. When you browse via ratings, please ensure you note it, and you’ll probably find whatever you’re aiming for.

3.  Check their fees

You would have to weigh all the costs that the bank demands, much as when selecting a normal bank. Whenever you’re shopping for a loan, the far more significant thing to keep in mind is the rates. Whatever you choose, please ensure that before opening bank accounts, you verify all of the possible service charges. Throughout the coming years, that would save you from a major headache and it is not hard to do.

4.  Ensure to analyze if the bank accepts your preferred cryptocurrency

This move is frequently ignored, and it’s the source of a lot of anger. So, when you set up an account, don’t fall into the trap of not testing the banking services rules. At first sight, it may not be easy to discover what you’ve wished for, but there was enough out there for anyone. So, don’t get lost and continue searching for yourself.

5.  Do they have a phone app?

Although this may not be your prime issue when selecting a bank, too many items can be made simpler with a banking app. If you’re an individual who’s constantly on the move, so you’re definitely going to want to handle your finances as rapidly as feasible. Please ensure you still read the ratings on the application and still place protection as your primary concern. To be successful, the software platform has to be simple and intuitive to use. So, right before you begin to work with the bank.

Please ensure to also check the ratings on the application and always place your primary focus on safety. To be successful, the smartphone app must be simple and convenient to use. So, well before you begin working with the bank, verify it. Fortunately, for the applications installed on their websites, official app stores like Google Play and Apple Store do comprehensive tests. Although that in a way guarantees app reliability, it also does not indicate that the software is of top standard.

6.  Join an online community

The various e-money groups online are another wonderful place where you can scan for crypto-friendly banks. Many of your questions should be asked from those who were once that you stood. In order to find the right bank, their insights will tell you whatever you need. Try to inquire of as many more individuals as you can, of course. You’ll be capable of forming an impartial and informed view in that way. The more information you receive, the stronger your judgement would be.