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Coinbase Considers Bitcoin Creator A Risk To Business, Here’s Why

Popular Bitcoin (BTC) exchange platform Coinbase has filed to go public this week. Within the company’s filing with the US Securities and Exchange Commission, it has been revealed that the San Francisco-based giant considers a comeback from the coin’s creator Satoshi Nakamoto a serious risk to its business. Here’s why the crypto exchange is so fearful of the mysterious individual or group behind the pseudonym.

Coinbase Fears A Comeback By Satoshi Nakamoto

Coinbase has long been a market leader in the cryptocurrency space, offering one of the most downloaded and accessible apps for Apple’s iPhone and Android smartphones. It’s institutional centric platform, Coinbase Pro, has become the go-to for major players, rumors to range from Tesla, to Square, and more.

The company’s overall momentum combined with the cryptocurrency trend rising so rapidly, compelled the brand to file to go public this week after long-running rumors. In the prospectus presented to the SEC, Coinbase considers Satoshi Nakamoto a potential business risk among other examples.

RELATED READING | BITCOIN HASN’T REACHED MANIA STAGE YET, ACCORDING TO THIS METRIC

Other risks include hacks, quantum computing, and other issues that would impact the general health of the market, which Coinbase says its business is tied to. But why is Coinbase, according to the SEC filing, so freaked out about “the identification of Satoshi Nakamoto, the pseudonymous person or persons who developed Bitcoin?”

The answer is in the coins themselves.

bitcoin satoshi nakamoto coinbase

SATOSHI NAKAMOTO COULD BE WORTH MORE THAN $50B AT CURRENT BTC PRICES | SOURCE: BTCUSD ON TRADINGVIEW.COM

Bitcoin Creator Wallets Contain 1M BTC: What That Means For Crypto

Satoshi Nakamoto is said to be the owner of wallets containing more than 1M in BTC, a substantial portion of the asset’s hard coded and limited supply. At current Bitcoin prices, Nakamoto would be ranked in the top twenty-five billionaires according to the Forbes real-time list of the world’s wealthiest.

Yet no one knows for certain who that person or people might be, or if some day they return to sell their coins. As the asset’s creator, they likely wouldn’t have intention to disrupt the network or integrity of the market itself, and wouldn’t do anything harmful purposely. However, uncertainty is a main component of FUD, and nearly as anxiety-causing as fear or doubt.

RELATED READING | BITCOIN TREND STRENGTH MORE POWERFUL THAN 2017, ONLY JUST BEGINNING

Not knowing what would happen in the “what if” scenario could cause a selloff in the speculative asset one way or another, which is why Coinbase calls attention to the business risk.

To this day, no one is certain of who Satoshi Nakamoto is, if it was a group or individual, or if they’re still alive today.

FEATURED IMAGE FROM DEPOSIT PHOTOS, CHARTS FROM TRADINGVIEW.COM

Source: Bitcoininst

How BTSE Creates Additional Value for Cryptocurrency Users with Earn Feature

The new BTSE Earn feature is undoubtedly the right step in the right direction for both users and exchange owners. With the new BTSE Earn, crypto-asset holders can earn interest on their assets. There is a range of Earn products the preferred assets of users. The new Earn feature on the BTSE cryptocurrency exchange will allow users to earn yield from their crypto assets.

The implication is that you can earn interest on your idle assets on the BTSE exchange without trading your assets. It is a new approach in the crypto space and certainly a welcome development for platform users. With the new BTSE Earn feature, the ecosystem caters to both traders and savers. Currently, there are flexible and fixed-term deposits available for crypto-assets like ETH, BTC, and some popular stablecoins. In the near future, BTSE is likely to release additional currencies for its teeming platform users.

Before we go further to explore the benefits of the BTSE Earn feature to asset owners, let’s understand the BTSE ecosystem.

The BTSE Cryptocurrency Exchange

BTSE exchange was co-founded in 2018 by Jonathan Leong, the CEO, and Brian Wong, the Chief Product Officer. Other team members include Joshua Soh (Chief Operating Officer) and Yew Chong Quak (Chief Technical Officer). Together, they created the BTSE ecosystem that offers a one-stop service to crypto traders worldwide. BTSE is the first exchange to introduce Monero (MXR) futures.

The platform witnesses more than $10 million volume worth of transactions as a result of the BTC/USD trading pair. Although the platform has had a low trading volume compared to Binance and Coinbase, it has maintained a low spread of 0.01%. Some of the top features of BTSE include:

  • Near-Zero Downtime with its real-time hot upgrades.
  • More than one million order requests per second, utilizing an institutional-grade matching engine.
  • 99.9 % of all the funds are in cold storage, maintained with BTSE’s top security and unlimited daily withdrawals.

BTSE introduces institutional-grade crypto trading to the cryptocurrency industry. It acts as a go-between for the traditional financial system and digital assets of tomorrow. It is a platform that traders develop for both traders and savers. Some of the services provided by BTSE include asset management, OTC, lending, Defi, exchange, etc.

How Traders and Savers will Benefit from BTSE Earn Feature

Crypto asset traders and savers stand to gain a lot from the BTSE Earn. The flexible option that BTSE Earn introduces will allow users to unstake whenever they feel like it. Also, it will enable traders to earn interest on their idle assets. However, locked asset deposits mandate that tokens be staked for an extended period. The extended time for staked tokens offers a higher annual percentage yield (APY).

Users are not required to pay any deposit fee, and there is no minimum benchmark for deposits. The compatible cryptos include USD-pegged stablecoin Tether, USD Coin (USDC) and True USD (TUSD), and BTC and ETH. Users start to earn interest with BTSE Earn on their staked assets once they have determined the time period

Conclusion

The BTSE Earn feature will certainly attract more users to the platform and increase liquidity. This is a welcome development, but BTSE needs to incorporate additional features to compete favorably in the crypto exchange market.

Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

Source: Bitcoininst

A $40,000 Bitcoin Likely as Price Breaks Critical Support Zone

A relief bounce in the Bitcoin market Thursday did little in offsetting its prevailing correction bias as its price slipped inside a critical support area.

The BTC/USD exchange rate touched an intraday low of $45,000 during the early Asian trading session Friday, down by up to 22.90 percent from its record high established earlier this week. Traders held on to $45,000 and the levels around it as support, given the range’s historically-verified capability of capping downside corrections.

Bitcoin Support Confluence

Nonetheless, the latest downside move appeared much stronger, raising possibilities that bitcoin would extend its decline further lower.

“[I’m] keeping an eye on the $44ks — tested once, but a break below there likely sends price back down to $40k,” alarmed Josh Rager, the co-founder of BlockRoots.com. “And if price makes way to $40k — you know it’s going to wick in the mid to upper $30ks. [It] could bounce here — but going to take it level by level/day by day.”

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin is down over 22 percent from its record high. Source: BTCUSD on TradingView.com

Mr. Rager’s downside target at $40,000 converged well with the blue wave in the chart above.

It represents the 50-period simple moving average (50-SMA) on Bitcoin’s daily chart. The wave has underpinned the cryptocurrency’s uptrend throughout 2020. Many instances showed the price breaking below the 50-SMA but only to reclaim the wave later to confirm the market’s bullish bias.

Analyst Willy Woo’s floor model—which has zero evidence of turning false—also alerts about hard price support near $39,000. Mr. Rager agreed that Bitcoin could fall to $40,000 in the coming sessions while forming a wick towards $38,000-39,000. The cryptocurrency may resume its uptrend at a later stage.

Psychological Price Floors

Bitcoin rallied by almost 100 percent in 2021 to hit an all-time high above $58,000. Its gains appeared on growing institutional adoption, led by Tesla’s $1.5 billion investment into the cryptocurrency and its intentions to use the decentralized token as a form of payment for its services and products.

This week, mobile payment app Square announced that it had also upped its Bitcoin reserves by investing another $170 million into the cryptocurrency. The Jack Dorsey-headed firm had added $50 million worth of bitcoins to its balance sheet late last year.

Nasdaq-listed business intelligence firm MicroStrategy also took a similar but heightened call to increase its bitcoin exposure. It put $1.06 billion to purchase another stash of the digital assets, pushing its total reserves from around 71,000 BTC to above $90,500 BTC.

All the firms revealed the average rates at which they purchased Bitcoin. For Tesla, it was between $35,000-$40,000. MicroStrategy’s latest investment into the Bitcoin market arrived when it was trading above $52,000. Meanwhile, Square stated that it purchased the cryptocurrency at a mean price of a little over $51,000.

That also increased Bitcoin’s ability to reclaim levels above $50,000 in the coming sessions, given the corporates’ high-profile exposure in the cryptocurrency above the said levels.

Source: Bitcoininst

Richly Valued Bitcoin Extends Decline After Positive Jobs Data

Bitcoin prices dropped Friday, tracking declines in the US indexes after new data indicated a stronger economic recovery and an auction of seven-year bonds met with lukewarm demand from investors.

The flagship cryptocurrency’s upside momentum faltered earlier this week after establishing a record high above $58,000. At first, the move downside appeared like a natural downside correction that follows massive parabolic gains. Nonetheless, the sell-off accelerated in response to the latest macroeconomic updates, showing a positive correlation with tech stocks.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin is down 20.78 percent from its record high. Source: BTCUSD on TradingView.com

Investors rushed out of some of the hottest pandemic winners in 2020. Shares of technology companies like Apple, Alphabet, and Netflix fell 2 percent apiece. Meanwhile, Tesla, the US carmaker which holds $1.5 billion worth of bitcoin in its reserves, suffered a share drop of 8 percent.

Dwyfor Evans, the head of macro strategy at Hong Kong-based State Street Global Markets, noted that expectations of the Federal Reserve’s rate hikes in the US prompted investors to de-risk their portfolios. That happened despite reassurances from the central bank’s chairman Jerome Powell that they would keep rates near zero until 2023.

Bond Sell-Off Ripples into Shorter-Dated Notes

Shorter-dated bonds experienced sell-offs. The five-year yield rose to 0.799 percent on Thursday from its previous session’s close of 0.612 percent, logging its largest one-day surge since December 2010. Meanwhile, the 10-year note yield touched another high at 1.513 percent before closing Thursday at 1.513 percent—still its highest level in a year. Yields move inversely to prices.

The US dollar index, a barometer to track the greenback’s value against top foreign currencies, opened 0.24 percent higher from its previous close on Wednesday. Its dramatic climb served as one of the major catalysts behind Bitcoin’s overnight plunge. The cryptocurrency’s loyal investor base treats it as a hedge against dollar depreciation.

US Dollar Index, US dollar, DXY, cryptocurrency

US dollar index climbs higher on investors’ risk-off bets. Source: DXY on TradingView.com

Investors tend to sell Treasurys when they expect faster inflation and growth. That lowers the value of bonds’ fixed payments and can ultimately prompt the Federal Reserve to increase short-term interest rates. Bitcoin, which remains uncorrelated to macroeconomic updates, could become a de-facto cash provider for investors who want to offset losses in traditional markets.

Lower yields served as the main reason behind its supersonic rally throughout 2020 and this year. Mainstream investors treat it as a hedge against global uncertainty. Therefore, it cannot always maintain its correlation with conventional assets, especially as the economic outlook improves from investors’ point-of-view.

Jobs Data vs. Bitcoin

At the core of recent sell-offs in bonds, tech shares, and bitcoin remain the US jobs data.

Labor Department data released Thursday showed the number of unemployed claims fell dramatically last week. That raised possibilities that the Fed would end its open-ended bond-buying program and raise benchmark interest rates much sooner than expected, given Mr. Powell’s earlier statements on the jobs market.

These developments hurt Bitcoin in the short-term. Nonetheless, when interest rate rises, it could also increase the cost of borrowing for companies and consumers, making them more likely to stay invested in profitable assets. Meanwhile, a continuous injection of the US dollar liquidity into the market dents their cash reserves’ valuation.

Bitcoin has emerged as an asset that offers hedging capabilities against fiat-linked inflation. Meanwhile, its profits in the previous year has paved way for many investors to treat it as a “digital gold.” Analysts believe the cryptocurrency is off to hitting $100,000 by the end of this year.

Source: Bitcoininst

OKEx Promises Exciting Promotions To Support Launch Of Algorand Stablecoins

As demand has spiked all across the cryptocurrency board, especially stablecoins, leading spot and derivatives trading platform OKEx has announced support for two of the most market’s most popular stablecoins on the Algorand protocol.

The move is in response to users searching for more options related to stablecoins and alternative protocols to avoid rising transaction fees.

OKEx Introduces USDTa and USDCa, Coming In Days

The Bitcoin market has been booming over the last twelve months, reviving the interest surrounding cryptocurrencies. The resurgence of development activity and users led to an explosion of new DeFi applications with incredible use cases.

Users have flocked to DeFi applications, many of which are built on Ethereum, causing related ETH gas fees to soar. When it comes to DeFi projects, it is a necessary cost associated with doing business. However, stablecoins on the Ethereum protocol have also been impacted by substantial transactions, discouraging users from sending stablecoins at such a high cost.

The beauty of the free market of crypto is that stablecoins can also run on other protocols, such as Algorand. Crypto exchange platform OKEx is often ahead of the curve when it comes to responding to consumer trends, and the latest move is no different. OKEx is providing users with the alternatives they desire.

Why Support Stablecoins On Algorand Protocol? OKEx CEO Explains

OKEx has introduced both USDTa and USDCa, running on the Alogrand protocol and offering the same benefits as their ERC-20 counterparts, but at only a nominal fee. OKEx CEO Jay Hao said that the platform had seen “such high demand” for the stablecoins, and because “user experience” is the platform’s “number-one priority,” they have begun to “offer users the chance to transact quickly and cheaply by providing a safe alternative to Ethereum while a solution is found for its rising gas fees and network congestion.”

Rising gas fees have benefited Ethereum holders, as it is driving up the prices per ETH. However, stablecoin transaction fees have reached an average of $25 in fees each, bringing to light the sudden need for suitable alternatives.

“Algorand is a technically sound protocol that provides the scalability essential to furthering crypto adoption that Ethereum doesn’t currently have,” Hao added.

Algorand-based stablecoins USDTa and USDCa will become available on OKEx in the next few days. OKEx has teased a variety of promotions to support the launch, with more information.

Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

 

Source: Bitcoininst

Fractal From Last Bull Run Says Bitcoin Will Hit $100K By May

Bitcoin price is back over $50,000 after bullish news broke this morning regarding Coinbase officially filing to go public. However, according to a fractal from the last bull market cycle kicking off in early 2017, that number could be merely the halfway point to where the cryptocurrency will trade in just two months from now.

Here’s a look at the similarities between the two cycles, and the roadmap that takes the price per BTC to $100,000 and higher within the next couple of months.

Characteristic Bitcoin Volatility Returns, Price Swings Reach $10,000 In A Single Day

Bitcoin volatility is picking up, starting with an explosive move from $10,000 to $50,000 in a few short months. The complete repricing of the coin has been due to institutional investors scrambling to buy what they can of the scarce crypto asset.

RELATED READING | BITCOIN HASN’T REACHED MANIA STAGE YET, ACCORDING TO THIS METRIC

At only 21 million coins and a market cap of under $1 trillion, Bitcoin is expected to grow in the long-term reliably. And in an economic climate where growth is challenging to come by, the cryptocurrency has become especially attractive.

But as Bitcoin price discovery takes place, volatility is bound to ensue and is has in recent weeks as the cryptocurrency recently shed 20% in a single day. At prices of $50,000 per coin, a 20% dive means $10,000 in value apiece evaporating into thin air, compared to the $1,000 per plunge crashes during the last bull market.

bitcoin price fractal $100k

The structure is strikingly similar, albeit less volatile overall | Source: BTCUSD on TradingView.com

Early 2017 Fractal Suggests Deeper Downside Possible, Rebound To $100K By May

On the way up the last time around, price action closely resembled the current market volatility. Taking a comparison between early 2017 when Bitcoin was trading in the four-digit range and now, the similarities are strikingly clear.

If the same path is followed, Bitcoin could see further collapse before experiencing a sharp rebound to more than double the price. The price action will play out quickly, taking Bitcoin price first to $75,000 in April, then $100,000 by the time May rolls around.

RELATED READING | BITCOIN TREND STRENGTH MORE POWERFUL THAN 2017, ONLY JUST BEGINNING

It is also important to note that the path following the fractal continues onward from there as well. By the time the fractal runs out of room on the price chart above, the cryptocurrency tapers off at just $2,000 per BTC.

The cryptocurrency did another 10x from the end of the above price action, and if the fractal continues the same from current levels, it could potentially put each Bitcoin at a price of $1 million per coin before the top of this cycle is in.

What do you think – can Bitcoin price really climb that high before the next peak is in?

Featured image from Deposit Photos, Charts from TradingView.com

Source: Bitcoininst

OKEx Utility Token OKB Blasts Off To New ATH As Crypto Trend Continues

Cryptocurrencies are experiencing a bullish phase in a major way. Across the entire market, coins are setting new all-time highs with every new passing day. Bitcoin and Ethereum are in full price discovery mode, and profits from them have flooded into other value projects such as utility coins and other top altcoins.

As a result, OKEx’s utility token OKB has set a new all-time high. Here’s why (both fundamentally and technically) OKB’s uptrend is only just getting started.

OKB Sets New All-Time High Alongside Massive Crypto Capital Inflows

According to the Dow theory, efficient markets will price assets effectively by being a direct reflection of all available information currently. And right now, all the information (public and private) is pointing towards going all-in on value projects in the crypto industry.

Investing in Bitcoin early has paid off handsomely, and other cryptocurrencies are following suit. The potential is there, but only for projects with lasting power that have both fundamental strength and technicals to back up their price momentum.

The overall crypto trend has caused coins everywhere to perform well, but certain categories have benefited more so than others, including DeFi tokens, and exchange utility coins like OKB.

OKEx’s native utility token recently rose along with the greater crypto price trend, reaching a new all-time high of over $23 per coin. The number is a 4,000% increase from the bear market bottom, and a nearly 400% increase in 2021 alone, making it one of the most successful coins in the space.

But investors are becoming aware of the value of utility tokens only now. OKB is only beginning its uptrend, according to technicals, and has the fundamentals to back it up.

Technical And Fundamental Factors Driving The OKEx Utility Coin Bull Run

The Average Directional Index is a trend strength measuring tool that can provide clues to where an asset is in its current trend. On higher time frames, the bullish trend is the strongest it has ever been historically for OKB and has only just started to blossom.

OKB in 2020 broke through its bear market resistance and confirmed it as support. After the critical bullish retest took place, it was clear skies ahead for OKB. With resistance flipped as support, and strong fundamentals to support longevity, OKB has only just begun to soar.

OKB allows OKEx customers to enjoy a discount on trading fees, access token sales, and much more. The token is also central to the OKExChain ecosystem and can be used or spent in a number of ways and applications already. Few cryptocurrencies can claim such utility and prices will appreciate accordingly and have already been doing so for some time.

OKEx trading volumes are also soaring as the greater crypto market trend stays magma hot. With token turns keeping the already limited supply shrinking, the asset’s value is designed to stay high and increase steadily over time, with less volatility than assets like Bitcoin and others.

 

 

Source: Bitcoininst

Raise $1bn to Buy Bitcoin, Jim Cramer Tells GameStock (GME) Board

Just as the GameStop Corp. (NYSE: GME) shares exploded higher in the final hours of trading on Wednesday, Jim Cramer advised the videogame retailer’s board to buy Bitcoin to increase its stock prices further.

“One last time GME,” tweeted the CNBC’s Mad Money host. “Issue one billion dollars in stock, buy one billion in bitcoin, and watch your stock go to $430.”

The statement appeared as other firms on Wall Street opted to replace a portion of their cash reserves with the benchmark cryptocurrency.

On Wednesday, Nasdaq-listed MicroStrategy revealed that it purchased $1.06 billion worth of additional bitcoins atop its 70,000-plus BTC reserves. Meanwhile, payment company Square also announced that it had added $900 million to its $50 million BTC profile on the same day.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin rose from $3,858 to over $58,000 on booming institutional adoption against a depreciating US dollar. Source: BTCUSD on TradingView.com

Tesla, a Fortune 500 company, also invested $1.5 billion into Bitcoin to protect its reserves from the US dollar devaluation risks. The US carmaker went a step ahead by announcing that it would also start accepting the cryptocurrency for its services and products. The revelation came in early February.

Why Buy Bitcoin

Since the coronavirus pandemic began, the economic cycle came to a halt. The US government and its central bank, the Federal Reserve, responded by injecting additional US dollar liquidity into markets via banks (also known as quantitative easing), making loans affordable (cutting interest rates near zero), and providing direct aid to people (via stimulus).

The US dollar index, which measures the greenback against a basket of foreign currencies, fell by more than 12 percent due to its oversupply.

Many corporates were sitting atop huge piles of cash reserves. They did not want their dollars to get devalued due to inflation. It led them to Bitcoin, a nascent hedging asset that promises to retain its value against fiat devaluation. That became the main reason MicroStrategy, Tesla, Square, and many other firms decided to purchase the cryptocurrency.

Bitcoin surged by more than 1,200 percent from its mid-March nadir to $3,858 after the Federal Reserve’s commitment to providing infinite quantitative easing. MicroStrategy’s investment into the cryptocurrency has so far earned it twice its original input. Tesla is also sitting atop a $1 billion profit owing to Bitcoin’s parabolic uptrend.

But…

…Mr. Cramer proposed Bitcoin as a financial asset that could safeguard the so-called pandemic losers as well. His advice to the GameStop board to buy the cryptocurrency had more to do with generating adequate capital to fund its futures operations, especially as it came closer to bankruptcy last month.

The GME stock is currently in the midst of volatile price swings. On Wednesday, its value spiked by 104 percent to close at $91.71. TraderAlert data showed that the GME’s options activity also surged to its highest levels in two weeks, with bullish contracts outnumbering the bearish ones. The spike happened almost without any concrete catalyst.

GameStop, GME

GameStop stock posts a wild intraday rally without reason. Source: GME on TradingView.com

GME earlier became a central focus of a Reddit-driven buying mania launched by trader Keith Gill, also known as by his pseudonym DeepF**ingValue, in January to hurt hedge funds short on the GameStop stock. Mr. Gill doubled down on his GME investments lately by purchasing 50,000 extra shares.

The GME stock jumped 13 percent after his call. GameStop currently had about $500 million in its cash reserves as of October 31 last year.

Source: Bitcoininst

Hashbon Provides Zero-Commission B2B and B2C Crypto Payment Services

Driving crypto payment adoption to new heights requires competitive solutions. Hashbon focuses on empowering small and medium-sized businesses through a 0% commission approach. Its native HASH token, to be listed on an exchange soon, will also provide certain benefits. 

An All-Encompassing Crypto Payment Service

As cryptocurrencies’ appeal grows globally, more and more people see the merit of using Bitcoin or altcoins for payments. While the number of companies accepting this form of payment remains low, Hashbon has the tools to change this narrative. As a cryptocurrency payment service platform for both individuals and businesses, it provides global payment solutions to everyone.

Established in 2016 in the Czech Republic, the Hashbon team focused on building its crypto payment service from the ground up. With a strong focus on ease of integration and a frictionless user experience, the platform supports over 30 currencies today. Individuals and companies can accept payments in Bitcoin, Litecoin, Ethereum, Dash, and many others. All of this functionality is part of Hashbon’s all-encompassing payment service platform.

Any business aiming to establish a global presence will need to experiment with universally-used payment solutions. Outside of traditional solutions such as payment cards and mobile options, cryptocurrencies are the next option on the list. By lowering the barriers to entry and adoption, Hashbon paves the way for global crypto payment adoption. 

Core List Of Features And Benefits

For small and medium-sized businesses, integrating support for alternative payment methods is often a costly endeavor. Hashbon acknowledges this aspect and ensures their solution can help decrease costs associated with handling payments. More importantly, the acceptance of cryptocurrencies can help any business or individual tap into new markets that would otherwise remain off-limits. 

Hashbon will never charge a commission for processing transactions in cryptocurrencies. Recipients will receive the full amount paid by the customer, minus the network’s transaction fee. Putting more money into the hands of those who accept these cryptocurrency payments is an essential priority for the team.  

Integrating this crypto payment solution only requires one line of code. Compared to other payment processing options on the market – either traditional or otherwise – the ease of integrating Hashbon is unprecedented. No technical knowledge is required to introduce this alternative and commission-free payment method to clients and customers. 

Other crucial benefits include:

  • Mass-payouts (an excellent tool for companies dealing with overseas or freelance workers).
  • Electronic billing (including WhatsApp supporting).
  • The acceptance of traditional payment systems alongside cryptocurrencies.

More specifically, businesses and individuals can equally accept SEPA, PayPal, Payoneer, credit card, or Sofort. Having the ability to customize payment options for yourself or your business is worth its weight in gold. 

The HASH Token Explained

Hashbon launched its native HASH token in February of 2021, and the first exchange listing will take place on Coinsbit come February 26. As a utility token, HASH is designed to be stable and transparent. It will exist on the Ethereum and Binance Smart Chain blockchains.

Launching this token has allowed Hashbon to grow its community to over ten thousand members. Every holder of the token will gain special features – including lower exchange rates within the Hashbon payment system. 

Closing Thoughts

As a crypto payment service that caters to both B2B and B2C clients’ needs, Hashbon can help expand the appeal of global cryptocurrency payments. With an initial focus on Europe and Asia and its compliance with applicable laws, the projected market share of 30.2% by 2025 is within reach. Its language localization, partner program, and ease-of-use interface are crucial aspects of convincing B2B and B2C clients of the importance of alternative payment solutions. 

If you want to find out more about Hashbon, join their Telegram Chat and News Channel, follow the team on Twitter, and check out the Reddit community.

Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

Source: Bitcoininst

Bitcoin Gains on Fed’s Infinite QE, Johnson and Johnson Vaccine Progress

Bitcoin reversed earlier losses after Jerome Powell, the Federal Reserve chairman, reiterated the central bank’s tendency to stick with its infinite quantitative easing policies during the second day of his testimony to Congress.

The benchmark cryptocurrency ended Wednesday 1.71 percent higher to $49,737.82, having fallen by up to almost 22 percent in the previous two sessions. It opened Thursday on an upside note, rising to $50,888 in the early Asian session. Other high-cap tokens, including Ethereum and Binance Coin, also surged higher.

On Wednesday, a morning sell-off in the US Treasuries also pushed the yields on the 10-year note to slightly less than 1.43 percent, its highest level since February, before it slipped back to 1.37 percent. As of Thursday’s Asian session, the yields were higher, around 1.39 percent.

Expectations that the US president Joe Biden’s $1.9-trillion stimulus package will tend inflation have hit Treasuries.

That is because an additional US dollar liquidity into the economy erodes the cash value of the debt instruments’ interest payments. Nevertheless, a rise in long-dated yields, accompanied by a rise in real rates, signals investors’ optimism about the US economy’s growth.

But higher yields hurt corporates’ equity valuations by tampering with their price-to-earnings multiples. Companies whose earnings remain slim against their stock market valuations appear less attractive to investors. About 100 largest firms listed on Nasdaq have values 37 times larger than their earnings.

Bitcoin Against Cash

Tesla and MicroStrategy, two of the leading bitcoin investors on Wall Street, are among the ones with higher P/E ratios.

Meanwhile, the former holds $1.5 billion of the cryptocurrency in its reserves. The latter has upped its bitcoin holdings from about 71,000 BTC to a little over $90,500 BTC after putting an additional $1.06 billion into it, according to its press release published Wednesday.

NYSE-listed Square has also reported a higher P/E ratio, meaning its stock remains overvalued against its earnings results. On Wednesday, the mobile payment firm announced that it had purchased $900 million worth of bitcoin tokens.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin rises after MicroStrategy and Square ups their BTC holdings. Source: BTCUSD on TradingView.com

So it appears, all the said firms expect their cash reserves to lose value in the coming sessions due to expansive stimulus packages. Meanwhile, with Mr. Powell suggesting to keep the Fed’s $120bn monthly asset purchase program and interest rates near zero, holding a depressed US dollar against rising yields seem unattractive for companies.

In turn, that helps boost Bitcoin’s anti-fiat narrative, given its scarcity against the dollar’s unlimited supply injection. Meanwhile, among investors, who expect the US economy to recover speedily, as the Food and Drug Administration approves the Johnson and Johnson vaccine for emergency approval, it has reduced their risk-off appetite.

Growth to Sustain: Bianco

The Dow Jones finished at a record on Wednesday amid higher risk-on sentiment among investors. That limited Bitcoin’s growth in the session. Nevertheless, analysts note that rising bonds’ yields do not affect the cryptocurrency in the long run. Jim Bianco, the president of Bianco Research, noted:

“They think it’s a reflation trade, so the path of the stock market [and bitcoin] will continue to be up,” said Mr. Bianco. “If they’re rising because earnings are coming back, people are getting their jobs back, the standard of living is going up, that’s OK.”

Bitcoin was trading around $50,000 at this press time.

Source: Bitcoininst