How To Find A New Coin Crypto Investments Worth Your Attention

How To Find A New Coin Crypto Investments Worth Your Attention

by | Dec 22, 2023 | Crypto wiki

In the rapidly evolving world of cryptocurrency, the emergence of new coin crypto and digital tokens is reshaping the landscape. 

Asset tokenization and digital tokenization are becoming increasingly prominent, offering new opportunities for investment and innovation. 

Particularly, the rise of non-fungible tokens (NFTs) has introduced a unique dimension to digital assets, challenging traditional notions of ownership and value. 

As new digital coins and tokenized assets enter the market, understanding the nuances of NFTs and the meaning behind fungibility in these contexts is crucial. 

For enthusiasts and developers, creating your own crypto coin or token offers an exciting frontier, with numerous platforms facilitating the launch of new crypto tokens. 

Amidst this, the list of new crypto coins continues to grow, each offering distinct features and potential. 

From security tokens in crypto to the latest NFT trends, staying informed about new crypto coin releases and the evolving definitions within this digital token board is essential for both seasoned investors and newcomers.

Since the crypto sphere is made out of all kinds of coins and tokens, let’s quickly review all the different kinds you may encounter. 

Types of crypto coins:

  • Bitcoin (BTC): The first and most well-known cryptocurrency, used primarily as a digital form of money and a store of value.
  • Ethereum (ETH): Known for its smart contract functionality, it allows developers to build decentralized applications (dApps) on its blockchain.
  • Altcoins: A collective term for all cryptocurrencies other than Bitcoin, often with different features and use cases.
  • Stablecoins: Cryptocurrencies pegged to a stable asset, like the US dollar, to minimize price volatility (e.g., USDT, USDC).
  • Utility Tokens: Used within a specific ecosystem to access services or pay for network fees (e.g., Binance Coin, Chainlink).
  • Security Tokens: Digital tokens that represent ownership in real-world assets and are subject to regulatory oversight.
  • Privacy Coins: Designed to provide secure and anonymous transactions (e.g., Monero, Zcash).
  • Central Bank Digital Currencies (CBDCs): Digital currencies issued and regulated by a country’s central bank.
  • Non-Fungible Tokens (NFTs): Unique digital tokens that represent ownership of specific items, often used for digital art and collectibles. How to judge an NFT?
  • Governance Tokens: Provide holders with voting rights in decentralized organizations or protocols (e.g., MakerDAO’s MKR).
  • DeFi Tokens: Associated with decentralized finance projects, these tokens often facilitate financial services without traditional intermediaries.
  • Exchange Tokens: Issued by cryptocurrency exchanges, often offering benefits like trading fee discounts or participation in exchange decisions.
  • Tokenized Assets: Digital tokens representing a share in a real-world asset, like real estate or art.
  • Layer 1 Tokens: Native tokens of foundational blockchain networks (e.g., Ethereum, Solana) that provide the infrastructure for other tokens and applications.
  • Layer 2 Tokens: Operate on top of an existing blockchain to improve scalability and efficiency (e.g., Polygon).
  • Meme Coins: Often created as a joke or with no serious purpose, gaining popularity through social media and community support (e.g., Dogecoin).
  • Yield Farming Tokens: Associated with yield farming practices in DeFi, where users earn rewards for lending their assets.
  • Liquidity Pool Tokens: Issued to liquidity providers in decentralized exchanges as a proof-of-stake (PoS) and for earning transaction fees.
  • Play-to-Earn Tokens: Used in blockchain-based games, rewarding players for participating and achieving certain milestones (e.g., FootballCoin’s XFC or Axie Infinity’s AXS).
  • Fan Tokens: Offer fans a stake in the decision-making of sports teams or clubs, often providing voting rights and exclusive rewards.

Researching new coins

When assessing new crypto coins or digital tokens, it’s crucial to understand the problem the coin aims to solve. 

Each new crypto coin today (from asset tokenization to NFT crypto currency) is designed with a specific purpose in mind. 

For instance, a new coin in crypto might focus on improving transaction speed or offering enhanced privacy compared to existing cryptocurrencies like Bitcoin.

Understanding the underlying technology and innovation is equally important. Whether it’s a new digital coin leveraging blockchain advancements or a crypto security token offering new ways of asset representation, the technology behind a coin determines its potential and sustainability. This includes innovations in digital tokenization, such as the creation of new token crypto types or the use of CBDC tokens by central banks.

Analyze the development team

The credibility and expertise of the team behind a new crypto coin are critical factors in determining its potential success. When researching new crypto tokens or digital tokens, it’s essential to examine the backgrounds of the team members. 

Look for their previous experiences in the crypto and tech industries, and consider their track record in creating or managing similar projects. 

A strong team with a history of success in developing crypto currency tokens or digital tokenization projects can be a promising sign.

Pay attention to their transparency and communication. 

Teams that are open about their goals, progress, and challenges, particularly those involved in making their own crypto coin or dealing with complex concepts like fungible meaning in NFT, tend to inspire more confidence. 

Also, check if the team has been involved in any controversies or disputes in the past, as this might affect the future of the token.

Lastly, consider the team’s vision and long-term commitment. 

Are they dedicated to the project’s future, or do they have a history of abandoning projects? 

A committed team is more likely to navigate the challenges of launching and sustaining a new coin in crypto, ensuring longevity and stability.

Where can you find all this info? Look on the project’s website. Search for the “About Us” or “About Team” section. Also, check the project’s social media profiles, the profiles of the developers and any other info about each individual involved in that project. The more info you can find online about them, the better. 

Market analysis and trends

Staying abreast of market trends is crucial in the dynamic world of cryptocurrency. 

For new crypto coins, including recent entries like non-fungible tokens (NFTs) or security tokens, market sentiment and trends can greatly impact their value and potential for success. 

It’s important to monitor overall market movements, regulatory changes, technological advancements, and investor behavior, as these factors can significantly influence the acceptance and growth of new digital tokens.

Look for patterns and trends in the market, such as increased interest in a certain type of coin, like CBDC tokens or tokenized assets. 

This can signal where the market is heading and which new coin crypto might gain traction. Also, stay updated with news and developments in the blockchain and financial sectors, as they often hint at future trends.

Identifying signs of potential growth or risk

Identifying potential growth indicators for new crypto coins involves analyzing factors like trading volume, market capitalization, and community engagement. 

A high trading volume and growing market cap can indicate strong investor interest and potential for growth. 

Community strength, especially for new crypto coins to be released or those recently listed, is another positive sign. A vibrant, active community often suggests good market acceptance and long-term viability.

Conversely, be wary of red flags that might signal risk. These include limited or fake trading volumes (often seen in new crypto coin pump-and-dump schemes), lack of transparency from the development team, and negative sentiment in community discussions or forums. 

Additionally, keep an eye out for any legal or regulatory issues that might affect new crypto tokens, as these can lead to significant volatility or even the demise of a coin.

Where can you check market analysis and trends for new crypto coins?

Here’s a list of crypto platforms that provide a range of tools and resources for tracking and analyzing market trends, helping you stay informed about the ever-evolving world of cryptocurrencies.

  • CoinMarketCap: Offers comprehensive data on cryptocurrencies, including price charts, market cap, trading volume, and historical data.
  • CoinGecko: Provides a broad overview of the cryptocurrency market, including price tracking, volume, market cap, and community growth.
  • CryptoCompare: Features detailed analyses and live price information for various cryptocurrencies, along with reviews and community ratings.
  • TradingView: Known for its advanced charting tools, TradingView is ideal for technical analysis and trend identification in the crypto market.
  • Messari: Offers in-depth research, analytics, and news updates on the crypto market, focusing on new and existing coins.
  • Blockchain Explorers (like Etherscan for Ethereum): Useful for tracking transactions, wallet addresses, and new tokens on specific blockchains.
  • Reddit & Cryptocurrency Forums: Subreddits like r/CryptoCurrency and other forums can be great for community sentiment analysis and trend spotting.
  • Binance Research: Provides institutional-grade analysis, in-depth insights, and comprehensive reports on new cryptocurrencies.
  • Glassnode: Offers blockchain data and intelligence, including insights into on-chain metrics and market indicators.
  • Twitter & Crypto Influencers: Following reputable crypto analysts and influencers on Twitter can provide real-time insights and trends.
  • Santiment: A platform for analyzing sentiment, network health, and other metrics for understanding crypto market trends.
  • Crypto News Websites (like CoinDesk, Cointelegraph): Regularly publish articles, analyses, and news updates on the crypto market.
  • LunarCRUSH: Specializes in social media analytics for cryptocurrencies, offering insights based on social engagement and sentiment.

Legal and regulatory considerations 

Navigating the legal and regulatory landscape is crucial for anyone interested in new cryptocurrencies. 

Understanding the legal framework means being aware of how different countries and jurisdictions regulate or view cryptocurrencies, including new crypto coins. Regulations can vary widely, from full support to complete bans.

The impact of these regulations on new coin investments is significant. 

Regulatory changes can affect the legality, value, and stability of cryptocurrencies. 

For investors, this means staying informed about current and upcoming regulations in their region and globally, as these can influence investment decisions and the potential risks and returns associated with new digital tokens.

Community and ecosystem

In the world of new crypto coins, the community plays a pivotal role. 

A strong and active community can drive the success of new digital tokens, whether it’s a new coin crypto, an NFT non-fungible token, or a security token in crypto. Community support often translates to higher engagement, better trust, and increased visibility.

Assessing the strength and activity of a coin’s community involves looking at its presence on social media, forums, and discussion platforms. 

For most crypto projects, the most used social platforms are X (formerly known as Twitter), Reddit, Discord, and Telegram. Most projects list their socials directly on their website’s homepage. 

A vibrant community with active discussions, positive sentiment, and collaborative development indicates a healthy ecosystem for new crypto coins to be released or those already in the market. This can be a strong sign of the coin’s potential growth and sustainability.

Strategies for long-term success

For achieving long-term success with new coin crypto investments, adopting strategic approaches is essential. 

This involves careful selection of new digital coins, focusing on those with solid fundamentals, like robust technology or strong community support. 

Diversifying your portfolio with a mix of different types of digital tokens, including NFTs and security tokens, can also help mitigate risks.

Staying informed is key. 

Regularly update yourself on market trends, technological advancements, and regulatory changes. 

This knowledge allows you to adapt your investment strategies to new crypto coins and market dynamics, ensuring you are well-positioned to capitalize on opportunities and minimize potential losses. 

Remember, the crypto market is fast-paced and ever-evolving, so flexibility and continuous learning are vital for long-term success.

The WhiteBIT Exchange Turns Five: Here’s How It Stayed in the Crypto Game

The WhiteBIT Exchange Turns Five: Here’s How It Stayed in the Crypto Game

by | Nov 13, 2023 | News

WhiteBIT has entered an exclusive circle of crypto firms upon reaching its five-year milestone. On the eve of its anniversary, it’s well worth turning our attention to this crypto exchange and looking back on the things that helped build its legacy.

How WhiteBIT became one of the noteworthy crypto exchanges

WhiteBIT’s emergence as a noteworthy force as a cryptocurrency exchange can be traced back to a series of choices that propelled it to the vanguard of the market. WhiteBIT was founded in Ukraine in 2018 and quickly grew to amass a substantial user base. This now exceeds 4 million individuals, making it a significant player in the European market.

WhiteBIT’s exchange encompasses over 270 digital assets across 350 trading pairs. Its suite of services includes margin trading and futures, giving it a wider scope than traditional crypto exchanges and helping it land alongside the industry’s biggest players.

What further set WhiteBIT apart were the strategic alliances it cultivated, notably its endorsement as the official crypto exchange of FC Barcelona, a globally renowned football club. Also complementing its diverse asset selection was the inclusion of 10 fiat currencies for funding user accounts, among them major denominations such as USD, EUR, and GBP, ensuring widespread accessibility for a global audience.

Furthermore, the introduction of its proprietary WhiteBIT Token (WBT) and the innovative WhiteBIT Earn program showcased the platform’s commitment to user-centric innovation, providing a spectrum of benefits and earning opportunities for its users.

The landscape of crypto is a dynamic one. The robust regulatory framework and the high-performance trading infrastructure have helped its rise in the industry during the five years that it has been active.

WhiteBIT’s Five-Year Anniversary

WhiteBIT turns five years old. For all the reasons listed above, this is a big deal. The Baltic Exchange has been a symbol of consistency in an often uncertain crypto space and an advocate for cutting-edge innovation.

With Bitcoin and most other major cryptocurrencies seemingly turning a corner in recent weeks, and with hopes that crypto can enter into a bright new future, it will be companies up to companies like WhiteBIT to offer solutions to both regular and experienced consumers.

The Ethereum Merge Is Complete: From PoW to PoS

The Ethereum Merge Is Complete: From PoW to PoS

by | Sep 16, 2022 | Ethereum, News

The upgrade from a proof-of-work (PoW) to a proof-of-stake (PoS) blockchain is now completed. What does this mean for the first programmable blockchain? 

On September 15, 2022, after years of development, Ethereum’s developers completed the Merge – the upgrade from a proof-of-work (PoW) to a proof-of-stake (PoS) blockchain. The PoS network is expected to power a more energy-efficient blockchain while reducing transaction fees and improving scalability. 

Potentially, the payoff could be huge. Ethereum should now use 99.9% less energy. According to one estimate, Ethereum’s energy consumption dropped from 77.77 TWh on September 14 to 0.01 TWh on September 16, 2022. 

The Ethereum Merge Is Complete: From PoW to PoS

The developers of Ethereum claim that the upgrade will bring the network, which houses many cryptocurrency tokens, to a more scalable and secure state. Ethereum’s TVL (Total Value Locked) is at about $30 billion, considering all its DeFi apps – DEXs, lending protocols, NFT marketplaces, and other apps.

The Ethereum Merge was completed at 7 a.m. UTC. However, the price of Ether (ETH) started to slowly decrease, dropping by 12% on the first day after the Merge. Ether’s price started a downtrend, and many investors are bearish.  

PoS Ethereum = no more ETH miners

In 2008, when Bitcoin was created, it introduced the concept of a decentralized ledger –  a single immutable record that computers all over the globe could access and trust without intermediaries.

In 2015, Ethereum was introduced. It expanded on the core concepts of Bitcoin’s blockchain by adding smart contracts. These smart contracts are bits of code that use the blockchain to record data onto its network and trigger automated transactions when certain pre-defined conditions are met. This innovation was key to decentralized financing (DeFi) and NFTs, which were the major catalysts for the recent crypto boom.

On Ethereum’s proof-of-work (PoW) network, crypto miners were responsible for verifying transactions and adding new blocks to the blockchain in exchange for rewards paid in ETH. These blockchain operations required miners to invest in expensive hardware equipment that was capable of solving the required cryptographic puzzles – hence the intensive energy consumption of the network. 

Ethereum miners were often organized in farms, which were actually huge buildings filled with mining equipment, similar to data centers, which were a huge strain on any energy network.  

PoS Ethereum

The new proof-of-stake system for Ethereum, which is a blockchain-based cryptocurrency, completely eliminates mining.

Miners are now replaced by validators. To become an Ethereum Validator, you must stake 32 ETH on the network. This means that maintaining Ethereum’s network security will not rely anymore on an energy-intensive computer network but the value of ETH stakes. It will require a similar level of electricity as any other computer software. 

Proof-of-stake is a system where the staked amount of ETH – and not the energy expended – determines who has control of the network. This makes attacks more costly and self-destructive, according to proof-of-stake boosters. Attackers can have their staked Ethereum slashed or reduced as punishment for trying to harm the network.

However, some are skeptical about the proof-of-stake security. There are no indications that Bitcoin, for example, will ever abandon the proof-of-work (PoW) consensus mechanism, as it is still seen as the more secure system. 

Now, Ethereum’s security relies on stakers

The upgrade to a PoS blockchain ends the network’s dependence on energy-intensive cryptocurrency mining.

The idea that Ethereum would eventually switch to proof of stake was clear from the beginning. However, the transition was complicated and risky. Many people doubted that it would ever happen.

The complexity of the update was exacerbated by the fact it was one of the most complex open-source software projects in history. It required coordination among dozens of teams as well as volunteers, researchers, and developers.

Tim Beiko, an Ethereum foundation developer, played a crucial role in the coordination of the update. He believed that more investors would become interested in crypto after this monumental milestone in the crypto universe. 

Vitalik Buterin, Ethereum’s creator, suggested that there’s still a long way ahead for the network: “This is the first step in Ethereum’s big journey towards being a very mature system, but there are still steps left to go.” 

Crypto Volatility Can Affect People’s Mental Health

Crypto Volatility Can Affect People’s Mental Health

by | May 31, 2022 | News

Volatility is the name of the game when talking about anything involving cryptocurrencies. Most projects are especially prone to crypto volatility, especially as they are just starting out. They can experience dramatic price swings and fluctuate by double-digits within a single day. 

On one hand, wild price swings can be a great way to make profits (if you are lucky enough). But others will lose those funds at the same time and that can trigger some unexpected and intense emotional reactions from investors who are affected by this crypto volatility. 

While most of our daily activities don’t account for too much for it, mental health plays a huge part in establishing a well-balanced lifestyle. However, we shouldn’t ignore it and it is required to always pay attention to any emotional responses that our day-to-day interactions might make us feel. For instance, financial events play a key part in our emotional well-being. Considering the current bear market, the constant despair from the volatility of crypto markets can cause serious mental health damage.

Most of the time, crypto investors hide behind faceless Twitter accounts and unknown blockchain addresses. But in May 2022, when the Terra ecosystem collapsed when the UST stablecoin depegged, all of those involved were affected. Having to see your life’s saving dissolve in a matter of hours is not something our brain can easily comprehend and, unfortunately, there were many suicide cases that followed. 

There is no way to predict where this bear market will take us, but we know for sure that we can’t control the crypto volatility. However, one thing we can control is the state of our mental health and the ways to improve it. 

What is affecting mental health?

Sometimes, you might not even know that what you’re experiencing might be a normal emotional response to an outside event. Actually, professional traders know this and spend years training to ignore their emotions when trading assets. 

But even with all the knowledge, if you are still new in the crypto trading space, you will be under emotional pressure at some point. And that’s when you will make poor trading decisions. 

Trading requires more than technical and fundamental analysis. A trading mindset is crucial. It’s a known fact that anyone can make disastrous decisions under the pressure of emotions. This can lead to serious financial losses. 

The best thing you can do is to know (and stay away from) the exact moments and situations that might affect your mental health: 

  • Premature exit. Beginners are more likely to take quick profits after a successful transaction and then close the deal too soon. They lose part of the potential profits they might have made.
  • Dependence on market participants. Many traders are influenced by signals and opinions from established market participants. However, to reap the greatest benefits, you must be independent of these factors. One such example is Dogecoin and Elon Musk’s tweets.
  • Losses are difficult to accept. The cryptocurrency market is highly susceptible to emotional trends. The price of cryptocurrency will react immediately to various statements and rumors. It is not possible to eliminate the emotional influence.
  • Euphoria after the first deal. A positive emotion that comes with the first profit can make the trader lose control.
  • Gambler syndrome. This leads to taking uncalculated risks. For instance, investors may enter large transactions without really thinking about them.
  • FOMO (Fear Of Missing Out). FOMO is a fear of missing out on potential deals. 

And as if that’s not enough to make you lose your reason, there are other external factors that might affect your trading positions. Hackers are a major concern in the crypto industry. Besides volatility, crypto assets are more susceptible to hacking and other scams due to their digital, anonymous, and decentralized nature.

What can you do about it?

Remember that it’s not all doom and gloom when it comes to trading crypto. In fact, you can still be involved in the crypto space and make money with crypto without a big (is any) upfront investment. 

However, not all crypto investors are mentally affected by crypto’s volatility. Most people do not become addicted or emotionally engaged in trading digital assets. Remember that trading cryptocurrencies can have serious consequences for your mental health and general well-being. It is crucial that investors decide how much risk they are willing to take to limit the psychological effects of cryptocurrency stress.

Cryptocurrency Sees Massive Adoption in Retail Payments

Cryptocurrency Sees Massive Adoption in Retail Payments

by | May 24, 2022 | News

According to crypto experts, cryptocurrencies will have a greater impact on the retail industry in the future as more people invest in digital currencies.

Although the cryptocurrency market appears to be in a bear market right now, it’s not hard to see that the industry has grown tremendously over the past few years, especially when looking at adoption.

According to a recent study by Insider Intelligence, digital assets will be used more often by Americans to make daily purchases. The study suggests that we will see a 70% increase in the use of digital assets for purchases by the end of 2022. This is a significant increase from 1.08 million users (in 2021) to 3.6 million users. The global crypto transaction volume is expected to hit $10.4 billion this year. 

The volatility of the crypto market is decreasing due to the increased use of stablecoins as well as central bank digital currencies (CBDCs). This will lead to more people considering these digital assets to be legitimate payment options. According to the research, 12.8% (33.7 million people) of the US population will hold crypto by the end of 2022.

This number could rise to 37.2 million by 2023. This is a realistic figure, especially considering that the number of investors who have entered the global crypto market has nearly doubled in the past 12 months, particularly when you consider that there are many countries such as India, Brazil, and Hong Kong that have seen a significant increase in their investment. 

Cryptocurrency Sees Massive Adoption in Retail Payments

It’s time to see massive crypto adoption in retail payments

Max Krupyshev, CEO of CoinsPaid, a crypto payments processor, believes that cryptocurrency payments will experience exponential growth over the next three years:

“I think we will be able to talk about tens of millions of users in the United States alone by 2025. The American market is a fertile ground for any innovative solutions. Another factor driving crypto’s adoption as a day-to-day transactional currency is that it is becoming increasingly easier to buy, spend these assets with global brands.”

He also stated that Asia could surpass America when it comes to crypto payments. The region is flexible in accepting new and upcoming technologies. We should also be aware of the increasing popularity of cryptocurrency in African countries. There is a high demand for crypto apps as well as alternative investment tools with a low entry threshold.

Brandon Dallman, the chief marketing officer of the DeFi ecosystem Unizen, believes that the cross-border remittance and retail payments ecosystem had been dominated for a long time by a few players such as Western Union, PayPal, and Stripe. With the rise of cryptocurrency in popularity, people can now bypass issues such as middlemen and high fees: 

“Fast blockchain networks are suitable rails for CBDCs like the digital dollar, euro etc. The blockchain that is able to cater to the demand put forward by financial institutions like stock exchanges and clearing houses will win the battle. We are seeing banks of all sizes dip their toes in the water to see how they can start to interact with the new digital world in front of them, driven by a growing fear of being left behind.”

But crypto may not be for everyone

However, not everyone is on the same page when it comes to the crypto adoption perspectives. The head of research and strategy at cryptocurrency exchange AAX, Ben Caselin, stated that although we might see custodial stablecoins being adopted in the near future, it is highly unlikely that we will be heading toward a massive crypto payments society.

“With increased integration, we can expect more vetting and regulation which will not bode well at all for crypto. There might be some venues where particular tokens may be the currency of choice, for example, a Bored Ape-themed restaurant is likely to accept payments in ApeCoin. But, other than that, I’m of the view that ultimately, real-world payments and store of value utility will converge on Bitcoin, although this does not discount the continued growth of online and offline micro-economies.”

However, he agreed that it was encouraging to see mainstream people get a better understanding of money. He noted that if merchants and corporations can actually hold the crypto assets they are paid with, this could be very exciting.

What cryptocurrency is suitable for retail payments?

Some of the top condensers for the role of retail crypto payments are Solana (SOL) and Bitcoin (BTC). Some believe that Solana (SOL) can easily accommodate everyday transactions, as it offers high speeds and low gas fees, making it more accessible. Bitcoin (BTC) is a bit more controversial, but it was already chosen as a legal tender in some countries (El Salvador and the Central African Republic), which may lead to a more mainstream approach and increase in popularity. 

Many of those already working in the crypto space believe that Bitcoin will be a more popular method of payment than any stablecoin even though most products and services are denominated using U.S. dollars. Some supporters say that Bitcoin (BTC) has proven its viability, having survived multiple crises and more than one crypto winter. Bitcoin seems to be working well for larger transactions, but can also become more viable for smaller transactions as a result of advances in solutions built on top of the Lightning Network.

However, it is unlikely that BTC-centric payments will be implemented at a mass scale over the next few years. This is due in large part to the fact production costs are still paid using fiat currencies. They are typically tied to the U.S. Dollar, Euro, British Pound, yen, or yuan.

Besides Bitcoin (BTC), Ether (ETH) could also be a strong contender for the go-to global payment crypto for retail businesses, due to its market dominance and popularity among investors. 

There is also no doubt that the most used and held cryptocurrencies will gain the most ground in the payments market. As transactional currencies, the 20 largest coins in market capital will prevail. And stablecoins will surely be part of that market. 

Mainstream and big companies are already accepting crypto payments

The popularity of crypto assets has increased rapidly, with many famous brands now accepting digital currencies. Microsoft accepts Bitcoin crypto payments for its various services, including Xbox Live, Microsoft Apps, and games.

Overstock, an American online furniture retailer, appears to be the leader in crypto shopping. The reason is that the company currently accepts a variety of digital tokens including Bitcoin, Litecoin (LTC), Ether (ETH), and Monero (XMR ). Home Depot, America’s largest hardware store chain, accepts Bitcoin payments via Flexa’s checkout system. This is a crypto payments ecosystem supported by Gemini.

Starbucks also has partnered with Bakkt futures exchange, which allows users to pay for their coffee and other digital goods using digital assets. This is also true for American supermarket chain Whole Foods. Recently partnered with SPEDN, allowing users the ability to purchase all their groceries using BTC or LTC. SPEDN does not only apply to Whole Foods. It also allows users to use their digital holdings at Jamba Juice, Jamba Juice, Regal Cinemas, and Baskin Robbins.

AT&T, the first American telecom provider, has offered its clients crypto payments. BitPay is a third-party payment portal that allows users to access the company’s services and offerings using Bitcoin.

Other than the ones listed above, there are many other notable brands that accept crypto payments. These include entertainment company AMC, travel booking agent Travala and American department store franchisee JCPenney (through gift cards). GameStop is also accepting crypto payments.

We are moving into a future in which digital currencies will continue to grow in popularity at an alarming rate. It will be fascinating to see how crypto integrates into the global retail landscape, particularly in terms of competing with or complementing existing fiat payments systems.

Smarter money with blockchain: Project Ubin in Singapore

Smarter money with blockchain: Project Ubin in Singapore

by | Dec 16, 2019 | News

Singaporean monetary institutions are known for their efficacy. The state’s public policy is seen as a blueprint to other fundamental systems round the world. The Monetary Authority of Singapore (MAS) has also taken the lead of the investigation regarding the potentials of distributed ledger technology in relation to banking and finance software.

MAS partnered with a range of financial institutions and venture blockchain technology organizations to make Project Ubin. It implemented real-time gross settlement (RTGS) systems with complete transaction privacy and settlement finality while avoiding single points of failure. Project Ubin efficiently reimagined institutional infrastructure in Singapore by implementing blockchain platforms.

By experimenting with technology that aims to improve transparency and enhance efficiencies, MAS indicates that it is prepared to future-proof its recognized procedures. MAS has established a multi-phase practice in partnership with a consortium of international banks, dispersed ledger technology, and blockchain providers.

“DLT has shown potential in making financial transactions and processes more transparent, resilient, and at a lower cost. The project aims to help MAS and the industry better understand the technology and the potential benefits it may bring through practical experimentation. This is with the eventual goal of developing simpler to use and more efficient alternatives to today’s systems based on digital central bank issued tokens.” – The Monetary Authority of Singapore

Together, they demonstrated how the tokenised Singaporean dollar may be a method for everyday inter-bank settlement. The goal was to enhance how trades are settled compared to the present system, where they’re queued and occasionally netted. The project determined the programs tested could function as foundations for distributed ledger-based RTGS systems.

At the conclusion of Stage 2, MAS supplied open-source access to this code and supporting information from the practice.

Having demonstrated that blockchain technology functions for interbank settlement, Project Ubin proceeded on to interconnecting blockchain networks.

Stage 3 (Delivery-versus-Payment) was a project with SGX on growing capacities for simultaneous transactions and final settlement of tokenised electronic currencies and securities resources on various blockchain platforms. The capability to carry out these tasks concurrently improves operational efficiency and reduces settlement dangers.

Stage 4 (Payment-versus-Payment) appears at linking up blockchain payment systems for cross-border payments. Stage 4 began as a cooperation with Bank of Canada and Bank of England on a tech-agnostic overview of present obligations versions and new alternative versions that could improve cross-border settlements and payments. It then continued as a technical experiment to join the experimental national payment systems of Ubin and Jasper by Bank of Canada, for cross-border payments. The project demonstrated the capability to join both networks and permit Payment-versus-Payment (PvP) settlement with no necessity for a reliable third party to serve as an intermediary.

The project is now into its fifth stage – Stage V. This stage concentrates on creating the version of the multi-currency payment, among those other models described in Stage 4, with the intention of business testing with commercial uses. This stage requires a step past technical experimentation, researching and understanding the wider ecosystem advantages of empowering business opportunities which were previously impossible or not cost-effective. The Phase V network will offer connectivity ports for additional DLT networks to join and integrate easily, providing added features to encourage use-cases like DvP together with trades, programmatic escrow, and conditional obligations for Trade and Trade Finance.