Crypto Guides, Knowledge & Insights

Cardano Partners with Chainlink to Integrate Oracles for Advanced Smart Contracts

The Cardano team has just published a blog post, announcing a partnership with Chainlink that will result in integrating Chainlinks oracles. These will help developers build smart contracts for Cardano DeFi apps.　　The collaboration was announced during the Cardano Summit today, on September 25.　　Cardano teams up with Chainlink　　Chainlinks oracle networks supply data to blockchain networks and allow smart contracts to work with results of elections, sports statistics, crypto rates, etc. They can also operate weather data (Chainlink is now working with some fintech companies that are bringing parametric insurance to South Africa) and other types of data as well.　　Chainlink oracles help run hybrid smart contracts on any DLT network. Presently, Chainlink secures billions of USD in DeFi apps, gaming apps, platforms related to insurance and other top industries.　　Chainlink to power Cardano smart contracts　　The integration of these oracles in the Cardano DLT will allow dev teams to supply institutional-grade data provided by Chainlink into their smart contracts. The oracles will support prediction apps that deal with sports data, weather data necessary for parametric insurance apps; they will be applied in the sphere of gaming and digital collectibles, like NFTs, etc, via multiple partnerships.　　Founder of IOHK Charles Hoskinson stated that Chainlink oracles are

2021-09-26Deep Dive

New Survey Shows Australian’s Love for Crypto is Fueled by These Noble Drives

Australians appear to be more knowledgeable in their investment strategies as many are beginning to buy into cryptocurrencies for the right reasons. As highlighted in a recent survey conducted by BTC Markets, it was shown that acquiring digital assets was not a function of ideas to get rich quickly, rather, investors who are purchasing digital currencies are doing so to build wealth, and for retirement purposes amongst others.　　Per the survey, 70% of the respondents to the survey said their sole aim of embracing crypto is to build wealth. This is a possible scenario seeing the high rate of growth of established coins compared to traditional investment assets. 34% of respondents buy-in to crypto so they can fall back on the gains when they retire, with some 28% affirming their aim to be portfolio diversification.　　Cryptocurrencies have matured when compared to the level it was in the past decade. Today, institutional investors, as well as retail buyers, are all bullish on Bitcoin (BTC), Ethereum (ETH), and other altcoins with unique fundamentals.　　“The motivations for investing in cryptocurrency are many and varied. A majority of respondents to our survey, 70 per cent, say they are looking to build wealth. A significant percentage, 34 per

2021-09-26Deep Dive

S.Korea Regulations: Here’s the List of Crypto Exchanges that Made the Final Cut

The final deadline for registration for crypto exchanges in South Korea came to an end on September 24. And out of 40 odds crypto exchanges left in the country, only four made the final cut. South Koreas latest AML guidelines which came into effect in January require crypto exchanges to do away with shadow banking accounts and partner with banks to offer real banking facilities to the customers. However, out of 300 odd crypto exchanges functional at the time only a fractional four has made the final cut.　　The Financial Service Committee (FSC) had extended the deadline for registration to September 24 after none of the crypto exchanges came forward until the first deadline in March. However, even after the second extension, only four could make the final cut. The four crypto exchanges that would now legally operate under the new guidelines would include Upbit, Bithumb, Coinone, and Korbit.　　Among smaller exchanges, Gopax was the only one that tried till the last moment to get a banking partnership but on Friday it revealed that none of the regional banks were ready for a partnership. Upbit has an agreement with internet-only K bank, Bithumb and Coinone are with NongHyup Bank, and Korbit with

2021-09-26Deep Dive

Mining Company Offers First-Ever “Mine-to-Token” Cryptocurrency to Investors Looking for Exposure to

This despite the fact it is the pioneering crypto project responsible for birthing the entire blockchain technology industry beginning with the publishing of the original Bitcoin whitepaper by Satoshi Nakamoto way back in 2008.　　Today, cryptocurrencies offer investors and users all kinds of benefits and built-in utility, including self-executing smart contracts, decentralized finance projects that pay out a higher annual yield than a centralized bank would ever give to a customer, non-fungible tokens that provide owners with social status and the potential for huge profits, and more.　　Although each of the above benefits of cryptocurrencies stretches well beyond a basic decentralized peer-to-peer payment system like Bitcoin, they dont necessarily fit the goals of every investor. There is an in-between investor that still wants their cryptocurrencies backed by real-world assets such as precious metals.　　Thats where Asia Broadband (OTC: AABB) comes in.　　Why Clients Are Choosing Asia Broadband　　Asia Broadband supplies both precious and base metals mined in Mexico to clients across Asia. The company is in its 25th year of doing business. It is publicly listed in the United States and allows clients to benefit from the vertical integration of its value chain.　　The companys move into cryptocurrency marks an adventure into uncharted waters. But for

2021-09-25Deep Dive

China declares all cryptocurrency transactions illegal

BEIJING (AP) - China´s central bank on Friday declared all transactions involving Bitcoin and other virtual currencies illegal, stepping up a campaign to block use of unofficial digital money.　　Chinese banks were banned from handling cryptocurrencies in 2013, but the government issued a reminder this year. That reflected official concern cryptocurrency mining and trading might still be going on or the state-run financial system might be indirectly exposed to risks.　　Fridays notice complained Bitcoin, Ethereum and other digital currencies disrupt the financial system and are used in money-laundering and other crimes.　　“Virtual currency derivative transactions are all illegal financial activities and are strictly prohibited,” the People´s Bank of China said on its website.　　Promoters of cryptocurrencies say they allow anonymity and flexibility, but Chinese regulators worry they might weaken the ruling Communist Party´s control over the financial system and say they might help to conceal criminal activity.　　The People´s Bank of China is developing an electronic version of the country´s yuan for cashless transactions that can be tracked and controlled by Beijing.　　FILE - In this Feb. 9, 2021, file photo, the Bitcoin logo appears on the display screen of a cryptocurrency ATM at the Smokers Choice store in Salem, N.H. Chinas central bank on Friday,

2021-09-24Deep Dive

Twitter rolls out Bitcoin tipping

Twitter Inc (NYSE:TWTR). announced that it will allow its users to tip their favourite content creators using Bitcoin by linking their profiles to Strike, the payments application built on the Bitcoin Lightning Network.　　The social media company‘s Tips service will initially be rolled out through iOS and then brought to Android devices over the coming weeks, said Twitter’s staff product manager Esther Crawford in a blog post.　　The company will allow users to add their Bitcoin address, so they can send and receive cryptocurrency tips.　　“We want everyone on Twitter to have access to pathways to get paid. Digital currencies that encourage more people to participate in the economy and help people send each other money across borders and with as little friction as possible – help us get there,” said Crawford.　　The addition of Bitcoin to the tipping feature had been expected, as Twitter CEO Jack Dorsey is a strong supporter of the cryptocurrency.　　Twitter also plans to add non-fungible token (NFT) verification features to the platform, according to media reports, although no specific timeline has been laid out for the feature.　　The feature enables users to track and showcase their NFT ownership on Twitter.　　Over the past six months, the use of NFTs as avatars

2021-09-24Deep Dive

Bitcoin Revisits $45K, Why Dips Turn Attractive In Short-term

Bitcoin price extended its increase above the $44,000 level against the US Dollar. BTC traded close to $45,000 and it might correct lower in the short-term.　　Bitcoin started a recovery wave above the $43,000 and $43,000 resistance levels.　　The price is now trading above $44,000 and the 100 hourly simple moving average.　　There is a key rising channel forming with support near $44,250 on the hourly chart of the BTC/USD pair (data feed from Kraken).　　The pair could correct lower towards the $43,500 support zone and the 100 hourly SMA.Bitcoin Price Extends Increase　　Bitcoin price started a decent increase above the $43,000 level. BTC remained well bid and it managed to clear the $44,000 resistance level plus the 100 hourly simple moving average.　　The price even climbed above the $44,500 level and traded close to the $45,000 level. A high is formed near $44,934 and the price is now correcting lower. There was a break below the $44,500 and $44,400 levels.　　An immediate support is near the $44,300 level. There is also a key rising channel forming with support near $44,250 on the hourly chart of the BTC/USD pair. The pair is also well above the 23.6% Fib retracement level of the recent wave from the $39,580

2021-09-24Deep Dive

SEC was the only regulator not willing to meet with Coinbase: Brian Armstrong

Coinbase CEO Brian Armstrong claims that the U.S. Securities and Exchange Commission (SEC) is the only government branch that is not willing to meet with the firm.　　Speaking on Anthony Pomplianos Best Business Show on Sept. 24, Armstrong said that during his visit to Washington after Coinbase went public in April, the SEC was the “only regulator” that refused to meet with him:　　“I reached out to the SEC. I tried to get a meeting with them. They told me that they werent meeting with any crypto companies.”　　“I was kind of surprised by that because there are so many different regulators out there. Every single one has been willing to meet with us and every other branch of government,” he added.　　Armstrong highlighted his firm‘s issues with the SEC’s approach earlier this month, when he revealed the enforcement body had threatened to sue the firm if it launched a USD coin (USDC) lending program that offered 4% annual yields. Despite other firms already offering similar services, he said the SEC refused to give the green light as they deemed the program to be a security but provided no explanation on how it came to that conclusion.　　During the interview with Pomp, the Coinbase CEO

2021-09-24Deep Dive

Binance Plays Role in U.S. Sanctions Against Russian Crypto Exchange

Leading crypto exchange Binance has aided the OFACs investigation into the Russian crypto exchange Suex OTC.　　Binance Reports Ransomware-Linked Money Laundering　　One of the top global crypto exchanges, Binance, revealed it has collaborated with law enforcement agencies on sanctions taken against Suex, a Russian crypto exchange that allegedly laundered money for cybercriminals.　　On Wednesday, the U.S. Treasurys Office of Foreign Assets Control (OFAC) announced a set of actions to be taken against crypto addresses belonging to Suex–a Russian exchange found laundering assets connected with ransomware attacks.　　In a blog post, Binance detailed its collaboration with law enforcement agencies. Speaking on the matter, the exchange said:　　“Based on a comprehensive audit by our investigative team, several accounts related to the addresses mentioned in the OFAC announcement were identified earlier this year and had appropriate action taken against them.”　　Ransomware attacks have become a major concern for various government institutions worldwide, costing over $400 million in 2020, four times the levels in 2019. Various experts in the U.S. and across the globe have called ransomware a national security threat.　　According to Binance, Suex‘s illicit activities appeared on its radar after an internal audit of the exchange’s records. After this, Binance shared its findings against Suex with U.S. law enforcement

2021-09-24Deep Dive

Peter Schiff Says Crypto May Lead to Higher Consumer Prices, Here’s How

Prominent Bitcoin critic, CEO of Euro Pacific Capital and chairman of SchiffGold, Peter Schiff, has taken to Twitter to take another jab not only at Bitcoin but at the cryptocurrency market in general.　　According to him, crypto may lead to a major rise in consumer prices.　　“Crypto absorbing investments that could help produce consumer goods”　　According to Schiffs tweet, the crypto craze is making the inflation of consumer prices stronger since the industry of crypto-related companies and non-fungible tokens is absorbing investments that could otherwise flow in industries that produce actual consumer goods.　　If there are fewer products made, prices will go up, Peter Schiff concludes.　　“Altcoin prices will implode almost overnight”　　Earlier this week, the chairman of SchiffGold tweeted that he expects the supply of altcoins to keep growing “until the crypto bubble pops.”　　He tweeted that there is nothing special about Bitcoin since there are now more than 12,000 different crypto tokens in existence with market caps that exceed $1 billion.　　The supply of these altcoins will ultimately beat the demand, and “prices will implode almost overnight,” he confidently suggested.　　Bitcoin may still hit $100,000 this year: Mike McGlone　　Leading commodity expert at Bloomberg, Mike McGlone, tweeted on Wednesday that the flagship cryptocurrency Bitcoin seems to be building

2021-09-24Deep Dive

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