Coins Era

eToro is the newest company to suspend XRP trading in the United States. The lawsuit filed against Ripple Labs on the sale of cryptocurrency by the Securities and Exchange Commission.The eToro team quoted the lawsuit in an update as the cause of the suspension but stressed that it only affected its U.S. customers at present. XRP’s purchases on eToro platforms are prohibited and XRP conversions held in an eToro wallet on January 3 are prohibited. Positions must be closed until 24 January.

Users can still hold XRP tokens in the eToro wallet and transfer them on the blockchain to any other wallet. While the move applies exclusively to US customers, eToro warns others that the sting may feel. They would like to highlight liquidity issues potentials, i.e. executing $XRP orders, which can interrupt or stop existing positions. Due to extreme market conditions, we may also see significant spreads.

The company encouraged users to maintain “different investment portfolios” and reminded them that the platform offers inventories, ETFs, commodity products, indices, and more if they wish to diversify their holdings. eToro added that it will continue to monitor and update its users’ legal developments with regard to XRP.

As reported by the company other key trading platforms, including Coinbase and Crypto.com, CryptoGlobe has already announced XRP trading suspensions after an announcement was made of its action. XRP’s trading may not be carried over globally if it determines, either market, regulation, or other conditions warrant that such action.

On 22 December the SEC announced the withdrawal of the former SEC Chairperson, Jay Clayton, on an alleging that it had applied for the provision of over $1.3 billion via an unregistered, constant digital asset securities offering, against Ripple Labs Inc. and two of its executives, which are also important security holders.

Almost immediately after the charges became official, the digital asset sensed the adverse effects of the SEC decision. In the following days, the price dropped by around 70% and was unable to bounce as various exchanges of cryptographs ran to drop the token.

After the beginning of the new year, Ripple was able to regain traction and jumped several times higher than $0.35. However, it continues to push the recent crash in the market and the news of further exchanges removing the coin.

When these lines were written, XRP prices rectified below $0.30 following the latest failure to overcome the level.

The stock market is believed as one of the most volatile markets in the world. It is the one that makes the use of different measures to regulate the prices of various securities that are being traded on different exchanges. Also, these securities play a vital role in managing the assets of every trader and investor. Therefore, in such a situation, the main aim of every trader is to make the maximum amount of wealth with a minimum amount of investment. Every option herein appears to be so much lucrative that everyone becomes interested in buying these stocks and shares. The traders find themselves spellbound by the return of the investment these securities offer.

Some of the wise old men have said this thing stating that one must always take a calculative risk and not indulge in castle building in the dreams. Therefore, any person who is a novice and an amateur in trading is prone to fall prey to these lucrative returns. There are some common mistakes which every trader commits. The list of these mistakes have been summarised as under and therefore. It can act as a guide and save the novice traders from committing the same blunder and wasting their hard earned money in any type of trades irrespective of the market trend.

Trading in the cheap stocks to earn more profits 

One must refrain from committing this mistake. One of the worst mistakes which is committed by novice investors is investing in the stocks by looking at their prices and without checking their fundamentals. The intention behind this strategy is to ensure that with the least cost the maximum amount of profit could be reaped. This technique has proved to be futile because in no manner the price of the share can denote the level of profit it could entitle the user to achieve.

Investing without reading about the financial position of the company

One of the most important considerations before investing in stocks is to read about the financial position of the company. The main aim of the technique is to ensure that the risk which has been taken is calculated and doesn’t subject the concerned investor with unnecessary risk of temporary price movement. It is important to understand about the financial position of the company in the long and short run for ensuring better results.

Understanding the bear and bullish period

One of the most important steps is one who is trading in this market should be in the position to differentiate between the bear and bull period so that the profitability is enhanced to the maximum possible extent. Therefore, one needs to take care of these periods and must not be in a hurry to jump into this deadly pool by temporary prices and trends in general.

Conclusion 

These are the primary mistakes which committed by new traders in the market. An attempt must be made to get rid of these mistakes in the best possible manner. You need to keep this in mind when planning your investments.

The engineer of different XRP-based items is the organization Ripple. Ripple has documented one more new brand name with the United States Patent and Trademark Office, or USPTO.

Documented on Nov. 6, petitioning for the brand name “PayString” gives meager data with regards to which business or item will be advertised under its overhang. For sure, the brand name enlistment portrayal is indistinguishable from that utilized for Ripple’s “Ripplenet” recording recently.

As per this portrayal, PayString covers the range of various classes of electronic monetary administrations: the utilization of fiat and advanced monetary forms for settlements and endowments; getting and dispensing electronic payments in fiat and computerized cash; money trade administrations in fiat and advanced cash; monetary exchange check administrations; and monetary administration and organization administrations for the transmission of advanced cash through electronic correspondence organizations.

In August, Ripple recorded a further two brand name applications with USPTO that incorporated similar application depictions as Ripplenet and PayString. A petitioning for another, Ripple Impact, tried to cover classifications of beneficent establishment administrations.

While the organization busies itself with enlisting new brand names in the US, a longstanding debate has been restored for the current week. The notable merchant and diagram examiner Peter Brandt contended that the US protections controller, the Securities and Exchange Commission, would have proclaimed XRP specific that “comprehended cryptos.”

Digital currencies as treated as assets in the past will not be treated the same in Israel anymore. As the news suggests, Israel is suggesting that bitcoin should not be viewed as currency or Fiat and not as an asset. This decision came to light after a four-member legislative team in the is really decided this. This decision is influenced by the fact that the Israelis should charge tax on digital capital and treat it as fiat, their country currency.

The news that matters

The four legislative members of the Knesset are, MK Oded Forer, Yevgeny Soba, Yulia Malinovsky, and Alex Kushnir, who suggested these particular changes in the treatment of bitcoin in Israel as reported by Globes, a media outlet in Israel. On September 22nd, they advised the administrative body in Israel to follow the existing laws related to bitcoin purchase and trading. This change will help bitcoin not be a subject of capital gains tax. The existing tax policy looks at bitcoin as an asset which is they charge 25% of the total every time conversion of bitcoin happens from an individual Account. Also, the short term lenders have to pay 15% tax on the conversion.

Now, if the proposed changes become law, bitcoin will be easily available and accessible at lower rates than anything else. The tax collection of the Israeli government is very low for other currency-related exchanges or conversions but as this is still in the asset section, many cannot have access to the digital currency.

 As Forer says, the blockchain system should be applied to make transactions during this pandemic which is secure and reliable. The pandemic has helped many countries realize that they lack technicality and need more power of technology to deal with living. The blockchain system surely is a good option to make payments. Several lockdown phases were announced in Israel to reduce the outspread of the virus. The cash transactions have almost halted in this country, the only help can be if transactions are made cashless and digitalized.

Cashless transactions might seem a little weird at the starting point, but as this pandemic has already hit again, people will start acknowledging the benefits of cashless transactions because social distancing has to be maintained strictly.

What’s stopping digitalization in Israel?

The bureaucrats are becoming the main reason for the halted digitalization of the economy. The fight about considering crypto as a currency or an asset is still a valid fight in the Israeli government official meetings. In Spite of the fact, there is an increasing number of blockchain activities and the rise in the value of cryptocurrencies, Israel is still in a dilemma whether to keep bitcoin in the asset category or to remove it from this particular boundary. The issues saturated when the government officials demanded capital gains tax on a particular time amount from an investor who is also a resident of Israel, but due to various reasons and loops of the system, the issues are still fresh and the dispute among officials regarding bitcoin is a valid one!

This is the age when virtual currencies are doing good. More and more users start using it in different countries, and that is why the prices of various virtual currencies are increasing at frequent intervals. With time the demand is rising, which is leading to an increase in rates. The markets have seen huge volatility in the last few months, and this month is also expected to be exciting for the traders. In this regard, many experts are expecting some volatility in Bitcoin price ahead of its monthly close. Let us look into some of the top reasons that may contribute to the high volatility situation in Bitcoin price.

Consolidation phase of bitcoin:

Bitcoin reached its yearly high price recently when it touched $12486 on Coinbase. However, after that, the price fell back, and it is struggling to break $12000 again. It is observed that whenever the price consolidates for a long duration without giving any breakout in either direction, volatility can spike up in the market. Any small range leads to a bottleneck situation, and it is likely to break out in one or both directions in the near term.

Options contract expiry:

The options contracts are expiring shortly, and this can also lead to high price volatility in the market. The open interest in the market is not as high as the pasta months, and millions of dollars worth options are waiting for expiry. In most cases, this leads to a lot of volatility in the near term, and even technical experts are looking out for such a possibility.

Selling pressure at $11900 levels:

Even though the price of Bitcoin has increased a lot on a yearly basis, it is not holding beyond $11900 levels, which is a cause for concern. Most experts believe that when the resistance levels are very strong, the BTC needs to cross it convincingly and hold above the level for a few weeks. Till then, it will keep facing selling pressure, and it may form a lower high on the charts.

These factors are influencing the price of Bitcoin in the market in recent weeks. All these factors can lead to a significant breakout in any direction, and traders need to be cautious while taking big positions. It is always a good idea to hedge your positions during such events as you will be able to limit the losses if the price moves in the opposite direction.

This article deals with everything regarding how Kim Dotcom predicted that BTC will be the one to rule along with the fact that he also said how the US dollars will have no value at all.

The Details on the Prediction that Kim Made

Kim Dotcom is a digital rights activist and an Internet Entrepreneur. He congratulated his Twitter followers who purchased Bitcoin after he advised them to do so back in 2018. On the 17th of August, a tweet was published saying that the founder of Megaupload, a now-defunct file-sharing website, also applauded for its followers who successfully capitalized on the rising cost of gold.

Kim Dotcom Thinks that the Traditional Currencies will loose Their Values in Future

In August 2018, Kim put a piece of advice to his followers that they should purchase gold and Bitcoin. He also added that the United States dollar bills will hold no value in the future and also the economy of the country is holding a great potential of heavy downfall. His gut feeling says that the BTC will take down all the traditional currencies.

Not Everyone was Moving According to Kim’s Advice

However, there is one user who actually debunked what Kim Dotcom had to say. He claimed that the ones who took his words seriously did actually nothing fruitful apart from doing something useless. To this Dotcom replied to this saying that he must be a novice.

Some More Details on Kim’s Enlightenment

As of press time, at present Bitcoin is trading higher than 12000 USD but on the other hand, gold has revived over 2000 USD within a few weeks. Kim Dotcom is well known for keeping a high interest in the world of cryptocurrency.

The Declaration Made by a Crypto Exchange

Bitfinex, a cryptocurrency exchange made an announcement on the 22nd of October that its IEO, which is the acronym for Initial Exchange Offering, the platform would be proffering digital content monetization token. It is known as K.im in partnership with Mr. Dotcom. But, the business made a very sudden cancellation of the token sale on the 5th of November mentioning the altering face of the controlling survey over such tokens.

That was an overall idea about the prediction regarding the domination of Bitcoin in the upcoming future and forever, made by the popular Internet entrepreneur Kim Dotcom.

The largest cryptocurrency trading conglomerate in the world has witnessed explosive growth in demands and investment recently. In only the first few months of this year, the company has seen a massive increase of around a billion dollars under its complete set of digital assets. Consequently, a spike in the sales of its shares was noticed as many investors scrambled to buy them up, thus increasing its valuation over ninety percent. Such an explosive and rapid broadening in its cryptocurrency business is a testament to the fact that more and more organized demand for crypto resources is developing across all investing centers.

Bitcoin no more the only overlord:

Interestingly, in these recent tides of increased interest, the underlying cause has not been Bitcoin this time. While Grayscale Corporation has always cataloged Bitcoin as their best player, this recent rise in success can be appropriately attributed to other popular altcoins such as Ether. It is the next best thing and has been rapidly gaining ground against Bitcoin’s industry favorite. Ether has also been petitioning the fiduciary department to become accredited as an SEC establishment, which will significantly improve its chances to rival Bitcoin on an even bigger scale.

Cause of the Voluminous Success:

This sort of burgeoning prosperity is undoubtedly influenced due to increasing investors’ faith, an excellent strategic trading routine, and fruitful collaborations with other top players. But it is worth noting some more concerning underlying reasons that may have fuelled the growth. One of the main ones would be the divide between the firm’s share costs and the premium of their crypto resources. Another would be the company’s volatile share price that has been going at a loss of ten percent. This may have led retail investors, who’d have bought those shares in better times to sell them now. And here, veteran traders would jump in, purchase those shares and take advantage of the differing costs of the premiums and Grayscale shares.

Nevertheless, the company has been on a righteous crusade to bring greater public awareness and interest into the whole genre of cryptocurrencies. With recent advertising videos dispersed to giant media conglomerates, Grayscale has been educating the people about the benefits of introducing altcoins into the mainstream.

The investors in the market understand the time value of money and hence look for the option where they can have quick trade. Therefore nowadays, they have turned to digital exchanges for ease of investing and trading. This can also prove as a good option for virtual currency lovers.

The growing competition among digital asset exchanges has meant that there will be less margins for every player in the market. Not only that, they are also forced to work on lower deposit and withdrawal thresholds to attract small and new investors. With interest growing both from the side of retail as well as institutional investors, these exchanges have to adapt to vast changes, including regulatory norms from different regions.

10000 exchanges across the world

You will be surprised to know that there are as many as 10000 digital asset exchanges around the world, and the number is all set to increase in the near future.  This is not an encouraging fact as it leads to various problems both for users and service providers. New investors will be confused about which exchange to choose from as they do not have a good understanding about various rates and features offered by these exchanges. On the other hand, exchanges will have to play with very less margins to sustain in this market.

Challenges of digital asset exchanges

One of the biggest challenges faced by digital asset exchanges is the price disparity that arises due to local regulations. As they have to match the price in the market, they will have to pair the cryptocurrencies with local fiat currencies and provide good liquidity options for traders. This becomes easy when the liquidity is very good in the market. However, as the market is still in the early stages, there is not enough liquidity to get a uniform price across the market. Due to this reason, different exchanges are offering different prices, and it is not uniform across different regions.

Institutional boom to digital asset exchanges

In the near future, the participation of institutional traders will provide the next boom to these starved exchanges. If the participation by these players increases in the future, it can lead to a good increase in trading volumes that will help the exchanges to build better infrastructure where they can process transactions at a good speed. The exchanges are in the process of developing fresh blockchain technology applications that can provide reliable and efficient service for traders.

Bitcoin is the future of money. Money as we know it- the form of cash or credit cards- will not disappear, but projections show that it will become redundant. And cryptocurrency will take over surely and safely.

How do you align your business with the crypto-currency trend?

We answer this question for you right here.

These are uncertain times for all of us. Covid-19 has brought all that was not working out in the open. There is room for a massive financial ‘rejig’. It’s also time for a cryptocurrency like Bitcoin to take center stage.

But what is Bitcoin?

Bitcoin is a peer-to-peer network that is controlled by no one. This means no institution or person controls it. This digital currency can’t be printed and only 21 million Bitcoins can ever be created.

For many people, the main benefit of using Bitcoin is that it’s completely immune to the interference of world governments, corporations and banks.

Benefits of Using Bitcoin

What are the benefits to you if you do decide to jump on to the Bitcoin bandwagon? Bitcoin is easy to use; Bitcoin transactions are faster; you pay lower costs than you do for credit card transactions, and Bitcoin transactions are anonymous.

Not one person or company can interfere with Bitcoin transactions, add to the fees on Bitcoin transactions, or take it away from people.

Another characteristic that makes Bitcoins very attractive to business owners and users alike is the fact that they are transparent. Each transaction is stored in a public ledger called the Blockchain, which is publicly distributed.

Many small businesses, like restaurants, in Singapore are announcing “Bitcoin accepted here” and attracting the new-age, savvy Bitcoin users who will also go out of their way to support a Bitcoin business.

Here’s an easy guide for you to switch to Bitcoin the oldest cryptocurrency in the market:

1. Creating a Bitcoin Address for Your Business

The first step is getting a Bitcoin wallet. This is nothing but the address where your Bitcoin using customers will transfer their crypto money.

This process works a lot like email. The customer has to type in your address, enter an amount and hit “Send.”

Similarly, you have to remove the crypto currency out of your computer or mobile at the end of the day and deposit it somewhere safe.

It’s always best to keep very little Bitcoin on your mobile or laptop.

You have a host of online tutorials on how exactly to set up the Bitcoin wallet and secure it against attacks. These are also extremely easy-to-follow.

2.  Using BitPay or Coinbase

These two are the major payment processors in the market. This way, you can input the money straight from the customer to your Bitcoin wallet, which can be linked to your bank account for withdrawal.

Most payment processors do charge either a percentage of your transaction. But these charges are still substantially less than what credit card companies charge.

Payment processors also offer a slew of benefits to you free. For example, you can send invoices through email or create a shopping cart plugin for your online sales business.

Furthermore, you have the added benefit of converting your cryptocurrency into fiat or regular money. This feature is very useful as it allows you to transact seamlessly with customers who want cash in fiat instantly.

3.  You Got to Advertise Widely that You Are Accepting Bitcoin

There are many bitcoin users out there who want to support businesses that use Bitcoin. It would be best if you reached out to them. You can do this by writing prominently on your store or restaurant front that you accept Bitcoin.

Similarly, you could add this piece of information to your website and social media accounts in the form of a “Bitcoin Accepted Here” button and your Mastercard and Paypal buttons.

Make some noise. It will work- as you will see!

4.  Paying Taxes

Your accountant will be able to guide you on how to keep records of your business’s Bitcoin transactions. Accountancy firms like Bitcountant and TaxNinja will do this easily for you if you prefer not to waste your time on accountancy-related chores.

These accountancy firms will also be able to handle Bitcoin-related tax issues. If you are in America, meeting tax obligations under the IRS’s guidelines is quite simple and straightforward.

Finally

Bitcoin is a relatively new form of payment, and so it is but natural that there are a few glitches in the chain. The spending options of Bitcoin are still limited for now. But the good news is that with each passing day, more and more small businesses like you are switching to Bitcoins and accepting payments in BTC.

Just follow the simple guidelines above and hop onto the cryptocurrency gravy train. You have nothing to lose and everything to gain, we promise.