Crypto Guides, Knowledge & Insights

Visa Head of Crypto: Crypto Addresses Might Become as Important as Mailing Address

In a recent interview with Forbes, Cuy Sheffield, head of crypto at Visa, has discussed the future of crypto and NFTs after the company enters the industry with a $150,000 purchase of CryptoPunk 7610, which is Visas first piece of NFT technology. According to the head of the crypto department, it is “just the beginning.” Anchorage Digital has acted as a custodian of the deal and also became one of the first banks to custody a deal using NFT technology.　　Sheffield has expressed his thoughts on the future of NFTs and their role in the future of social media, entertainment and commerce. In order to better understand the technology of interaction with NFT, the company has decided to become part of the industry in alliance with the Anchorage bank. According to the head of the crypto, it will help the company to better understand the market and navigate their clients in the space.　　Visa is looking forward to entering the future of the digital arts industry and plans to purchase more NFTs:　　“We envision there could be a future where your crypto address becomes as important as your mailing address. In the same way Visas been here through shifts of commerce before, were

2021-08-24Deep Dive

Upbit is First South Korean Exchange to Apply for Operating Permit

Upbit has become the first South Korean crypto exchange to officially apply for an operating license – with the nations financial regulator confident that “at least one or two” others will follow suit before the end of this month.　　The move is a major statement from the crypto sector, which had reeled last week from news that all of the exchanges hit by a recent regulatory audit had failed their due diligence checks.　　Per Yonhap, as well as SME Daily and Dailian, Upbit appears to have renegotiated its (very successful) banking contract with K-Bank, a KT-backed neobank that has seen account registration skyrocket thanks to its Upbit deal.　　Under the terms of the nations first piece of crypto-specific legislation – which comes into force on September 24 – all exchange clients must have bank accounts verified by real names and social security numbers.　　Banks have been reluctant to offer such contracts to exchanges, particularly after being told by the government that offering such services will mean they must absorb all associated money laundering-related risks.　　But Upbits seemingly bold move, in submitting its documentation over a month ahead of the deadline, could well galvanize the sector – just as nerves were beginning to jangle among domestic

2021-08-24Deep Dive

Visa invests $150,000 in NFT CryptoPunk Asset

Credit card giant Visa has made a substantial splash on its emergence into the nonfungible token (NFT) space with a $150,000 acquisition of a CryptoPunk, the collective of digital artworks that pioneered the mainstream culture of the space back in 2017.　　In a blog post announcement released on Monday, Cuy Sheffield, head of crypto at Visa and self-proclaimed NFT enthusiast, shared his views on the value of purchasing NFT assets in the digital economy, the vast growth of the market in the past few years, as well as Visas commercial incentives in this investment.　　Sheffield claimed, “To help our clients and partners participate, we need a first-hand understanding of the infrastructure requirements for a global brand to purchase, store, and leverage an NFT.”　　“The ability to track and leverage a digital asset in multiple environments could mean exciting new opportunities in ticketing, gaming music, art, and beyond,” he continued.　　Visa purchased CryptoPunk 7610 — a female figure with a mohawk, clown green eyes and lipstick — which was first claimed back on June 23, 2017, and first sold a month later for a measly 0.6 Ether (ETH) ($114 at the time).　　Utilizing blockchain‘s native feature of an open ledger, one can see that Visa’s newly

2021-08-23Deep Dive

$50K BTC price vs. the Fed — 5 things to watch in Bitcoin this week

Bitcoin (BTC) is back at $50,000 as a new week gets underway with a bang.　　After a strong weekend, Bitcoin finally crossed the long-awaited $50,000 mark overnight on Aug. 22.　　Along with a firm sense of deja vu, traders are naturally curious as to what will happen next — and crucially whether Bitcoin has bitten off more than it can chew with its latest price surge.　　With the United States Federal Reserves annual Jackson Hole summit lined up this week, macro triggers could combine with internal sources of contention to spark a hectic week for cryptocurrency markets.　　Takes a look at five BTC price factors worth considering in the coming days.$50,000 Bitcoin: What could go wrong？　　There was no shortage of concern about Bitcoin failing to crack $50,000 this weekend.　　Everything from low volumes to a bearish Wyckoff distribution event was visible on social media from those unconvinced of market strength.　　In the event, however, Bitcoin clipped and held the psychologically significant price level in classic fashion.　　“If btc can break out from here. People over trading will lose their Btc and hodlers will win,” popular trader Pentoshi summarized in one of various tweets Sunday.　　“I said this one other time before it did a relentless 6x. Know when

2021-08-23Deep Dive

On-Chain Data Suggests Ether Will Be Blazing Through New All-Time Highs Before Bitcoin

Earlier this month, Bloomberg revealed that Ethereum‘s year-to-date performance has been significantly higher than Bitcoin’s for two years now. Bitcoin proponents, unfazed by the recent developments, have their eyes peeled for when Bitcoin finally hits $100,000; as they should, given that multiple indicators have validated the possibility of Bitcoin attaining said price this year.　　However, underestimating Ether bulls in the process may not be such a good idea as Ether is primed to dominate the market and possibly attempt to take on the big bull.　　Supporting data from on-chain platform CryptoQuant shows that Ethereum‘s exchange NetFlow is rising meteorically. On the other hand, Ether’s reserve for all exchanges has renewed its two-year low by maintaining a downward trend movement, indicating that there are more Ether holders than sellers at this time. The new data has fueled bullish predictions for Ethereum from Ki-Young Ju, the founder of the on-chain platform.　　Ju is now opining that at Ethers current pace, the asset could hit a new all-time high before Bitcoin does. Referring to the data, he took to Twitter to state the following;　　“ETH might reach its all-time high earlier than BTC in the long term. Current ETH price is closer to ATH compared to BTC.Higher

2021-08-23Deep Dive

Google bans 8 ‘deceptive’ crypto apps from Play Store

Google has delisted eight allegedly fraudulent mobile apps from its Play Store that were duping crypto enthusiasts by charging fees for an illegitimate cloud mining service.　　Fraudulent mobile applications have now become a popular method to mislead unwary users with high success rates. Trend Micros latest research discovered eight Android applications that were exploiting crypto enthusiasts by charging a monthly fee under the false pretext of running a legitimate cloud mining service.　　Further analysis into the matter uncovered that the malicious apps hosted by Google — posing as crypto mining applications — were deceiving users into watching paid ads and paying for a cloud mining service that does not exist.　　According to the report, users were not only being charged a monthly fee of approximately $15 but were also subject to more payments for enabling “increased mining capabilities.” In addition, some of the apps required an upfront payment from the user.　　The reportedly fraudulent crypto apps included mining services such as BitFunds, Bitcoin Miner, Daily Bitcoin Rewards, Crypto Holic, MineBit Pro, Bitcoin 2021, and Ethereum (ETH) - Pool Mining Cloud. The list also includes a crypto wallet service named Bitcoin (BTC) – Pool Mining Cloud Wallet.　　While the above findings were reported to Google Play

2021-08-23Deep Dive

Perdagangan Kripto PayPal Tembusi Pasaran UK!

Ini merupakan perkembangan terbaru selepas perkhidmatan kripto ditawarkan di Amerika Syarikat (AS) pada November 2020.　　Jelas PayPal, pelabur bukan sahaja boleh membuat pelaburan terhadap Bitcoin (BTC) tetapi juga Ethereum (ETH), Litecoin (LTC), dan Bitcoin Cash (BCH).　　Perkhidmatan tersebut boleh dilakukan sama ada menerusi laman web rasminya atau aplikasi mudah alih.　　Tidak mustahil pasaran UK akan meningkatkan lagi pendedahan matawang kripto di negara itu.　　Perkara ini didorong oleh data yang menunjukkan penggunaan PayPal di UK mencatatkan kadar tertinggi, lebih 2 juta pengguna aktif setiap bulan berbanding negara-negara Eropah lain.　　Menyentuh isu perundangan kripto yang ketat di UK susulan daripada operasi Binance dihentikan oleh Financial Conduct Authority (FCA) pada akhir Jun, PayPal memberi jaminan bahawa pihak mereka sentiasa mengikut rapat perkembangan penyelia di negara itu dan seluruh negara dalam melancarkan perdagangan kripto.　　Ketika penulisan, pasaran kripto menunjukkan perkembangan yang positif. Dalam 24 jam, aset tersebut didagangkan pada nilai:　　BTC: $49,893 (meningkat 1.35%)　　ETH: $3,264 (meningkat 0.29%)　　LTC: $187.16 (meningkat lebih 2%)　　BCH: $679.60 (meningkat 0.42%)

2021-08-23Deep Dive

Pelukis Malaysia Jual Karya NFT

Katun　　Seniman graffiti dan peserta pertama yang menjual dua koleksi NFT-nya di platform Superfarm dan berjaya mengumpul lebih RM1.7 juta dalam tempoh 24 jam.　　Dua koleksi tersebut mula dilelongkan pada 18 Ogos, jam 2 pagi waktu tempatan.　　Koleksi pertama dikenali sebagai ‘Apes Stand Strong’ didagangkan sebanyak 50 unit terhad dan telah terjual dalam hanya 30 minit sahaja.　　Setiap unit didagangkan pada 1 ETH. Ini menjadikan 50 unit yang terjual mencecah nilai RM689,245.50!　　Koleksi kedua, ‘Mystical Fruits’ didagangkan pada tanda harga 0.1 ETH.　　Dalam 24 jam, Katun berjaya menjual sebanyak 776 unit, menjadikan keuntungannya mencecah 77.6 ETH (RM1,069,709.02).　　Koleksi ini sudah kelihatan dijual semula di platform OpenSea dan tanda harga tertinggi yang dicatatkan ialah 100 ETH!　　Gabungan kedua-dua keuntungan tersebut bernilai RM1,758,954.52, menjadikan Katun sebagai seniman tempatan yang pertama menjual karya NFT pada harga termahal setakat ini.　　Menariknya, jika pemilik koleksi ‘Apes Stand Strong’ menyimpan seni tersebut dalam tempoh dua bulan, mereka akan menerima hasil seni dalam bentuk fizikal yang dicetak secara Glclee printing. Manakala seorang pemilik bertuah akan menerima versi ‘Inferno’ pada 18 Oktober 2021 pada jam 2 pagi waktu tempatan.　　Begitu juga bagi pemilik ‘Mystical Fruits’, mereka yang bertuah berpeluang untuk menyaksikan 20% daripada seni NFT tersebut berubah kepada edisi khas, dikenali sebagai ‘Garden of Bloom’ pada 18 Oktober.　　Selain

2021-08-23Deep Dive

Bitcoin - Expect 56K Soon

The Crypto market has experienced a resurgence of the Bullish market since the beginning of this month of August. Bitcoin has registered huge gains of more than 76% since its all-time lows (ATLs) of 30k and $28,800 created in the months of May and June respectively. After having suffered great volatility for the most part in the last 90-days, the flagship of a Bullish market for crypto has showcased once more, with such a high level of recovery. Equally, Bitcoin has broken its 200-day moving average at $48,600, earlier this month and currently aiming higher above it. At present, there exists a psychological barrier to be overcomed at 50k and any break above it will lead us to the next resistance at $52, 200 and $56,000 which is the second resistance if the Bullish momentum remains unstoppable. The first attempt to break this 50k psychological barrier which is set to revive great confidence among investors was stopped short at $49,800 over the weekend. The price has been ranging at this point and we expect a break out of this region in this new week. Otherwise a retest of the previous supports at 48k and 46K might be experienced.　　Interestingly, the new

2021-08-23Deep Dive

The Future Belongs to Cryptocurrencies, Banks Must Embrace It: Deloitte Survey

A recent study revealed that 73% of senior executives at financial institutions fear their companies will fall behind in terms of development if they fail to adopt virtual currencies and blockchain technology. 76% believe that digital assets will replace fiat money in the next 5 to 10 years.　　Crypto Would Swap Physical Money　　The multinational professional service provider – Deloitte – conducted a survey among more than 1,000 bank leaders and executives of financial institutions based in the USA, the UK, China, Hong Kong, Germany, Brazil, Japan, Singapore, South Africa, and the UAE. The goal: to determine if these top managers see the future intertwined with cryptocurrencies.　　The majority of the respondents, with 80%, answered that digital assets would play an important role in the financial industry in the next two years. 73% of the executives believe that blockchain adoption is essential if organizations want to be competitive in the future industry.　　76% went further, arguing that virtual assets would replace fiat currencies in the next 5 to 10 years. They even predicted that the end of physical money is near.　　Linda Pawczuk – U.S. blockchain and digital assets leader at Deloitte – commented on the results:　　“In the last year, weve seen a significant shift

2021-08-23Deep Dive

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