Crypto Guides, Knowledge & Insights

Telegram's First Cryptocurrency Autotrading Channel

An alternative to trade bitcoin and other digital currencies are autotrading platforms such as CryptoWhale. It is one of the first companies crypto market that allows you to connect your Binance Spot and Binance Futures account with Cornix, an automated trading system.　　But should you trade with CryptoWhale？ Find out with this review we have for you, where we will tell you what you need to know about this Telegram channel.　　It is a Telegram channel used for autotrading bitcoin and other cryptocurrencies.　　If you are wondering what autotrading is, it is a type of trading where the CryptoWhale trader opens trades in his own Binance Spot or Binance Futures account and these trades are replicated in his users account thanks to a tool called Cornix, which is the one that allows you to connect your Binance accounts with CryptoWhale.　　In this way, your customers do not have to personally open trades if they do not want to, as all the operations are handled by CryptoWhale. This is an advantage for users who do not understand trading or do not have time to trade.　　Users simply connect their Binance Spot and Binance Futures account with CryptoWhale via Cornix from Telegram and start benefiting from the

2021-04-23Deep Dive

BitMEX Confirms Expansion Plans, Focus On Derivatives Remains

Building on its earlier announcement of expansion plans, crypto derivatives exchange BitMEX has unveiled it is broadening its offer with five new business segments: spot, brokerage, custody, information products, and academy. The company will also seek additional licenses in a number of jurisdictions.　　The initiative was announced by Alexander Höptner, Chief Executive Officer of 100x Group, the holding behind the platform, who said in the statement that when he “joined BitMEX this year, I was tasked with a very specific mission - lead our transformation beyond derivatives to something bigger.”　　Höptner, who took over the position last January, coming from German legacy finance institutions including Stuttgart stock exchange Börse Stuttgart, has been planning to “expand that product universe to more plain vanilla products to increase the customer base, and bring new customers”.　　In his latest message, Höptner said the company has “experienced incredible success throughout our short history. But the crypto landscape has evolved rapidly in the last few years, and its time for BitMEX to make a strategic shift,”　　In line with its latest move, to enable spot trading, “BitMEX will launch full-service spot capabilities globally to provide users with a way to buy and sell crypto assets.” Derivatives are to remain the

2021-04-23Deep Dive

CoinDesk Research: Does Bitcoin Have an Energy Problem?

Bitcoin does consume a lot of energy, but it also incentivizes renewable energy through improving economics and distribution.　　Below is the introduction to the latest report by CoinDesk Research associate George Kaloudis, which unpacks some of the myths, acknowledges some of the realities and looks ahead to the evolving energy mix, bitcoin‘s role in improving renewables distribution and how policy can help further bitcoin’s relationship with the energy industry going forward.　　Bitcoin (BTC) experienced a retail-driven meteoric price rise in late-2017, breaching $19,000 in December 2017 and a subsequently rapid price fall to ~$6,000 in February 2018. Professional investors took notice then, but few considered bitcoin a viable avenue to responsibly grow capital while properly managing risk. Three Februarys later, bitcoin topped $1 trillion in total market value and financial institutions are now serious about cryptocurrency. Bitcoin is no longer widely characterized as an inappropriate institutional investment.　　While institutional bitcoin investment merits may overlap with retail bitcoin investment merits (for more on this, see our report on bitcoin‘s value proposition), institutions face different types of pressures. Institutions face performance pressure from investors, policy pressure from regulators and reputation pressure from the public. A common concern from these stakeholders is bitcoin’s undeniable relationship with

2021-04-23Deep Dive

A Gift To Mankind: CryptoG launches global wealth distribution project

CryptoG has launched a global wealth distribution project aimed at restoring financial power back to the people.　　Its official token, CTG, is a digital currency used within its community as a worldwide cross-border anonymous payment system in exchange for goods and services, 100% backed and redeemable for gold.　　“With our secure private gold vault located in South East Asia (one of the largest privately-owned gold mining reserve), anyone around the world may use CTG as a form of payment or as a medium of exchange to trade for goods and services,” a representative of the group said in a statement.　　CryptoG said CTG is what a currency should be. It is backed and redeemable for pure physical gold, free from any inflation factor since there are only 30,000 units of CTG issued and locked forever, fully anonymous without complicated Know Your Customer (KYC) procedures and verification, and no middleman as transactions are done directly between sender and receiver, among other things.　　“CTG can also be swapped with other assets including crypto, stocks about less than 0.1% per transaction, no limitation to the amount transacted whether it is a dollar ($1) or a hundred billion dollars ($100,000,000,000),” the representative added.　　CryptoG said it seeks to be

2021-04-23Deep Dive

Is SafeMoon Really… Safe? What Is It And Why It’s The Talk Of Crypto

Let‘s not kid ourselves, SafeMoon is trending because of the unprecedented price increase. The novel token grew 6000% in just a month, leaving the whole crypto industry speechless. It has since fallen tremendously, but the project is still in everyone’s mouth. The new Doge, people call it. Is that supposed to be a compliment？ Or is it an insult？　　What does this project offer, exactly？ What makes it special？ Why should I care？　　What Is SafeMoon？　　Lets answer those questions and analyze everything we know so far.　　Recently, their website announced that they reached one million holders. Impressive. On March 8th, 2021, CEO John Karony and CTO Thomas Smith launched SafeMoon. This self-proclaimed “fairly launched” DeFi token:　　Rewards its users for holding and penalizes those who sell it.　　The protocol automatically generates liquidity.　　The project is community-driven.　　In each trade, the protocol executes three functions:　　Reflection　　LP acquisition　　Burn　　About the Liquidity Provider acquisition, the whitepaper informs:　　In each trade, the transaction is taxed a 10% fee, which is split 2 ways:　　5% fee = redistributed to all existing holders　　5% fee is split 50/50 half of which is sold by the contract into BNB, while the other half of the SAFEMOON tokens are paired automatically with the previously mentioned BNB and added as a

2021-04-23Deep Dive

Algorand Blockchain Goes Carbon Neutral

Algorand, the firm behind the industry-first pure proof-of-stake foundational blockchain, has announced that it has achieved carbon neutrality and commits to become carbon negative going forward.　　Ecologically unsustainable and environmentally damaging carbon emissions has become one of the critical issues plaguing blockchain technology. From decentralized finance to non-fungible tokens, and even to alpha blockchains like Bitcoin and Ethereum, carbon emissions caused by crypto mining and transactional operations on blockchains that require increasingly power hungry proof of work have been criticized as unsustainable means to push forth blockchain as a core technology.　　“Algorand is experiencing accelerated adoption and network expansion. As this period of hyper growth continues, we find it crucial to operate at a carbon-negative level. Indeed sustainable growth is way better than growth,” shared Algorand founder Silvio Micali, who also designed “We understand that the mechanics of measuring the environmental impact of a global, decentralized and widely used blockchain are nuanced and complex. Thats why we are teaming up with ClimateTrade to continue and double-down on our eco-conscious efforts.”　　Algorand claims that transactions and digital asset creation on its blockchain produce several magnitudes less CO2 emissions, with an initial analysis indicating some 2 million times less carbon emission compared to proof of

2021-04-23Deep Dive

Report: Banking Giant Natwest to Refuse Service to Businesses That Accept Cryptocurrencies

The major retail and commercial financial institution National Westminster Bank (Natwest) has categorized cryptocurrencies as “high risk” and refuses to serve business customers who accept digital assets for payments. A Natwest board member, Morten Friis, explains the bank has no appetite for dealing with these types of customers as Natwest is taking a “cautious approach” toward this technology.　　Natwest Will Refuse to Do Business With Companies That Accept Cryptocurrencies　　Reports show that the popular UK-based financial incumbent and wealth manager Natwest is refusing to serve business customers who accept cryptocurrencies. The same bank established in 1968 from a merger between Westminster Bank and National Provincial that suffered from intense scrutiny after being involved in the stock market crash of 1987.　　The report written by theguardian.com‘s banking correspondent Kalyeena Makortoff explains that Morten Friis, a Natwest board member and head of the bank’s risk committee is taking an adverse approach toward crypto-assets. Friis notes that the bank has no cravings for dealing with crypto customers and digital assets are “high risk” from Natwests perspective.　　“We have no appetite for dealing with customers, whether taking them on as new clients or having an ongoing relationship with people, whose main business is backed by an exchange for

2021-04-23Deep Dive

Shark Tank’s Kevin O’Leary Slams Gold’s Environmental Impact, Says Bitcoin Becoming Sustainable

Investor and Shark Tank star Kevin O‘Leary says gold mining is harmful to the environment while Bitcoin mining’s carbon footprint is falling.　　In a new interview with Daniela Cambone of Stansberry Research, the entrepreneur argues that gold mining disrupts the earths fabric in an alarming way, leaving a giant carbon footprint in its wake.　　“There is no clean gold, you know. Theres just no green gold at all. It takes a tremendous amount of carbon to extract it from the ground…”　　“The amount of carbon that you create mining, digging, scratching, blowing stuff up, processing the gold, taking out you know the other elements of it is just brutal in terms of a carbon footprint. It couldnt be worse.”　　The Shark Tank star points out that Bitcoin mining is, on the other hand, becoming more environmentally friendly as some miners turn to renewable or less harmful sources of electricity such as natural gas.　　“There‘s a whole new generation of [Bitcoin] miners emerging in the Nordic countries, in Northern Canada, in Sweden, in Switzerland, in France, where they are using hydroelectricity, sometimes excess hydroelectricity, and flaring off natural gas where it’s being burned already to create electricity.”　　“So they‘re doing it on a carbon-neutral or reduced carbon

2021-04-23Deep Dive

European Regulators Eyeing Binance Over Stock Tokens

European regulators are looking into whether Binance is complying with securities rules following the launch of its stock tokens.　　Last week, Binance began offering stock tokens, which are worth the equivalent amount of a companys equity shares.　　Initially launching with Tesla, Binance now also offers stock tokens for rival crypto exchange Coinbases shares.　　The tokens are available to users outside the United States, China, and Turkey. However, European regulators are now scrutinizing Binance to see whether these new offerings comply with securities regulations.　　European regulators perspectives　　Financial regulators in Europe are trying to determine if the tokens adhere to rules governing transparency and corporate disclosures.　　The UKs Financial Conduct Authority (FCA) said it is, “working with the firm to understand the product, the regulations that may apply to it and how it is marketed.”　　However, the FCA also indicated that ultimately the responsibility lies with firms in determining if their products fall within the regulators purview.　　Meanwhile, German regulator BaFin declined to comment specifically on Binances case, citing “confidentially obligations.”　　However, it did say that they consider such tokens as securities, “if tokens are transferable, can be traded at a crypto exchange and are equipped with economic entitlements like dividends or cash settlements.”　　As such, they assert that security offerings

2021-04-23Deep Dive

This Is How Cardano’s First DEX Will Try To Disrupt DeFi

As Hard Fork Combinator (HFC) “Alonzo” approaches, more DeFi projects are emerging for Cardano. A few days ago, Input-Output Global (IOG) Marketing and Communications Director, Tim Harrison, said there is a “huge” interest from developers towards the platform and its smart contract capabilities.　　In that sense, a team of developers led by Ryan Morrison from Quant Digital launch Cardax. A project conceived to be Cardano‘s first decentralized exchange. According to an official post, the project is seeking $50,000 to finance the development of Cardax. The proposal has been made via Cardano’s Project CatalystFund 4.　　Morrison is a stake pool operator on this network with a background in marketing. His team is formed by “crypto enthusiasts” with experience working on projects like Celsius, Open Ocean, and Bitcoin EU, per the official post. They have set out to build a DEX with the following characteristics:　　Cardax is a decentralized exchange that will be powered by the Extended Automated Market Maker (EAMM) protocol. It aims to provide liquidity to projects that issue native tokens on Cardano. (…) which brought native tokens and multi-asset support to Cardano, there is an increased need to develop a native exchange.　　Cardanos First DEX Roadmap And Features　　The team behind Cardax seeks to

2021-04-23Deep Dive

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