VanEck’s MVIS and CryptoCompare Launch Bitcoin Benchmark Rate

VanEck’s MVIS and CryptoCompare Launch Bitcoin Benchmark Rate

VanEck company MVIS and crypto data provider CryptoCompare are launching a new hourly Bitcoin Benchmark Rate.


VanEck company MVIS and cryptocurrency data provider CryptoCompare are launching an hourly Bitcoin (BTC) Benchmark Rate,

which has been developed in close cooperation with cryptocurrency bank SEBA. In an announcement on June 3, MVIS outlined that the new rate aggregates BTC transaction prices on the top five trading venues included in CryptoCompare’s Exchange Benchmark and disseminates each hour. Licensed crypto bank SEBA will be using the new rate to launch further products for the digital assets market. Daniel Kuehne, the bank’s head of asset management,

emphasized:

"It is essential for derivatives on cryptocurrencies to have a representative reference rate which is robust against market distortions and manipulations.”

As reported by Cointelegraph, CryptoCompare’s Exchange Benchmark had launched explicitly in response to the growing concerns sparked by research revealing that a significant number of crypto exchanges worldwide use wash trading and other strategies to artificially inflate trade volumes. Both MVIS’ managing director Thomas Kettner and CryptoCompare CEO Charles Hayter have stressed the need to provide professional investors with high-quality crypto data and indices. This, they state, will ensure that such investors can accurately measure the performance of their crypto exposure and to encourage more confidence in the asset class.

Crypto and the institutional investor class

The development of better datasets and indices to support institutional exposure has steadily emerged as an area of focus over the years. This January, leading Japanese consulting firm Nomura Research Institute partnered with crypto investment solution provider Intelligence Unit to launch a new tradable monthly crypto index, also drawing on data from MVIS. Last month, major industry players claimed they have witnessed an acceleration of institutional interest in the crypto sector, attributing it to factors that included Bitcoin’s recent halving and concerns over possibly inflationary monetary policy in the United States.

Article Produced By
Marie Huillet

Marie Huillet is an independent filmmaker, with a background in journalism and publishing. Nomadic by nature, she’s lived in five different countries this decade. She’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives.

https://cointelegraph.com/news/vanecks-mvis-and-cryptocompare-launch-bitcoin-benchmark-rate

Heiko Closhen, Entrepreneur

Bexplus Exchange Has Launched Interest-Bearing Bitcoin Deposit Service

Bexplus Exchange Has Launched Interest-Bearing Bitcoin Deposit Service

High annual interest (APR). The annual interest offered by Bexplus looks very attractive compared to the rates from competitors: while Bexplus’s minimum interest is 18%, while most services offer just 4-10%.

Fast withdrawal and no penalties for early withdrawal. Bexplus allows withdrawal at any time and manages all the requests within 1 day. No penalties for early withdrawal used: investors are able to take their coins if they’d change the mind (and still receive the interest).

Low minimum deposit amount. Investors can make a deposit starting from 0.05 BTC. Most lending platforms limit minimal amounts to 1 BTC.

Two-factor authentication and cold storage. Most of the bitcoins are stored in an offline storage system (cold storage), while only a small amount is kept in the hot storage. The platform uses multiple signature access, all the transactions are performed manually by several staff members.

Quick access to trading. Still, Bexplus mainly is a trading platform, so if you want to trade your stored BTC — transaction to the trading account is instant and has no commission fee.

Fast and simple, no KYC requirements. Your interest starts to calculate the next day after you made a deposit. It’s simple to make a deposit and doesn’t require KYC. Bexplus is a Hong Kong-based company providing traders with outstanding crypto trading services since 2018. The platform offers secure trading solutions and such features as a trading simulator, quick withdrawal, and various activities. Among the traded cryptos are bitcoin, ether, lite coin, and many more.

Article Produced By
Ionela C.

https://theccpress.com/bexplus-exchange-has-launched-interest-bearing-bitcoin-deposit-service/

Heiko Closhen, Entrepreneur

Cryptocurrency Exchange Website Buybitcoins Rolls Out New Marketplace

Cryptocurrency Exchange Website Buybitcoins Rolls Out New Marketplace

Lavinia C.Created by a group of businessmen to offer a global financial market for peer-to-peer cryptocurrency exchange,

Buybitcoins aims to make the buying and selling process more accessible for everyone. The step-by-step process is designed to help all users from absolute beginners to experienced old hands conduct secure transactions quickly. Buybitcoins is based in the LA, California USA and wants to make cryptocurrency as accessible as possible to the widest possible audience, including users who are much less tech-savvy. To do this the operation has gathered a group of specialists in finance, economics, marketing and technology. What they all share is a passion for blockchain technology. Together they have developed an effective platform to support companies that truly believe in bitcoin and all the other cryptocurrencies. To ensure that client funds are kept as secure as possible the site has been developed based on the highest security standards. This not only guarantees transparency but also the transactionality of all users.

Each user will gain a reputation as he or she generates more transactions. This will lead to credibility by allowing them to constantly interact with the system and available crypto actives. Users are provided with user-friendly wallets. This enables the easy management of their accounts. They can transfer and generate payments to other users in the same system anywhere in the world. To democratize the use of crypto actives, anyone can access and offer their cryptocurrencies. They can also create a place for easy exchange. Chat and customer service 24/7: We focus on our users having the best online support. We focus on generating the greatest support in real-time through our chat and physical offices. Buybitcoins is already recognized as being among the top platforms in the world in terms of cryptocurrency transactions. It makes the exchange of cryptocurrencies, including Bitcoin, Bitcoin Cash, Etherum and Ripple, possible between small, medium-sized companies, large corporations and individuals.

What Buybitcoins offers, safely, simply and in an agile manner, is a direct exchange through electronic payments. The Buybitcoins wallet has tools that make it possible to triangulate operations with double guarantee deposits. This gives a much greater level of security for those people who like to send money remittances in any currency. Operating directly with other people through buybitcoins makes transactions faster and more agile. This enhances user experiences during the buying or selling of cryptocurrencies. There is a 24-hour seven days a week chat service so if users cannot find answers to any of their questions, the Buybitcoins support team is only a click away and can provide direct assistance.Support agents from our team of specialists can also offer in-depth information on all supported cryptocurrency projects. This makes it possible for users to learn a lot more about their favorite coins.

Article Produced By
Lavinia C.

https://theccpress.com/cryptocurrency-exchange-website-buybitcoins-rolls-out-new-marketplace/

Heiko Closhen, Entrepreneur

Increased Demand Requires Increase in Nodes Here’s Everything You Need to Know About Bitcoin Mining During Lockdown

Increased Demand Requires Increase in Nodes. Here’s Everything You Need to Know About Bitcoin Mining During Lockdown

As bitcoin adoption soars during the global crisis, miners are needed.

Here’s how you can cash in on crypto while staying at home. The novel coronavirus has brought about a new way of living in almost every conceivable regard. To how we interact with friends and loved ones, to how we work, and how we earn an income. In its wake, the virus has already begun to cripple our collective health and the health of many economies, which has left a number of us looking for better ways to earn a living, comfortably from our homes.

It has also left many heading online to begin trading in digital currencies. Focused exchange platforms, like Bitvavo, have noticed a stark uptick in existing user interaction, as well as new accounts. Whether this is due to a faltering trust in standard global financial systems, or just because we all have a bit more time on our hands is so far unknown. What is known is that with increased interaction and user adoption- more transactions will need to be validated and added to the blockchain than ever before. Which translates to a need for miners. This comes as great news, as bitcoin is realistically the only financial asset that can operate and maintain remotely. In fact, that’s the entire basis of the network’s structure.

What is Mining?

Mining is a term used to describe how transactions are validated and added to the blockchain. To appropriately expand on that, you’ll need a bit of knowledge on how bitcoin works at its core.

Decentralized Public Ledger System

The blockchain is bitcoin’s ledger system. It’s where the checks and balances are stored, each and every transaction that occurs on the network is stored within the blockchain- effectively making the transactions public, transparent, and verifiable. All without the need for a centralized authority. Each time a transaction is made on the network, independent computers that function as part of the entire network (nodes) work to solve complex mathematical equations. If these equations are able to be solved, it proves that the transaction was real and unique. Verifying the transaction itself. As each transaction is verified, it is added to the blockchain, where it can be publicly viewed by anyone on the network. Each verified transaction is completely immutable and time-stamped. Ensuring continued transparency and authenticity.

Verifying Transactions

The nodes that work to verify transactions are owned by people. Those people are called “miners”. They get this name because each time a transaction is verified, the person that owns the node that solved the equation is rewarded in newly minted bitcoin. Sort of like a prospector mining gold from a vein.

Payment for Work

This payment helps to incentivize people to continue to relegate their computing power to verify transactions. Further distributing the responsibility of verification throughout the entire network. Solidifying the decentralized nature of bitcoin.

Source: BitcoinWiki

This system of verification is called “Proof of Work”. In a proof of work system, all nodes on a network race to be the first to solve the mathematical equation. The node that comes up with the solution first, reaps the reward. In proof of the work environment, it’s not necessary for anyone node to be in any one place. Which makes it easy to mine at a distance, or even comfortably from your own home.

How to Mine Bitcoin

Mining bitcoin can be a bit tricky to get started if you’re not particularly tech-savvy. Tricky, but not impossible. The equipment needed to mine bitcoin has evolved nearly as quickly as bitcoin itself- in little over 10 years, time-consuming, energy-gobbling, clunky hardware has been replaced with a sleek and efficient purpose-built piece.

Source: BusinessInsider

While innovations in mining technology continue to emerge, it seems that the industry may be slowing down as it comes closer to reaching an equilibrium. Currently, two options of mining exist Cloud Mining and Personal Hardware Mining.

Source: bitmoneytalk.com

With the cloud mining route, hopeful miners choose a company through which they “rent” mining hardware. Essentially, through these companies, cloud miners will pay for someone else to mine for them using their own hardware. Similar to a type of crowdfunding. This “rental” investment will generally be paid out in bitcoin. When choosing a cloud mining company, it’s important to do your research and personally vet any company you plan on working with. Each company will have a different setup for how their operation works, rental terms, and how you will be paid. Each company will walk you through their process and lead you through the necessary steps you will need to take to begin cloud mining.

Personal Hardware Mining

Choosing to mine with personal hardware is an expensive choice if you don’t already have access to cheap electricity supply, powerful network connection, and decent access to hardware. Before you begin the process of purchasing a personal mining setup, it’s advisable to use a bitcoin mining calculator to see if the cost of investment versus payout from mining will be profitable. Modern mining is almost exclusively done using ASIC hardware. This Application-Specific Integrated Circuit hardware is a microchip that is purpose-built for mining. While these processors are extremely efficient, even the best hardware only produces about $10-$30 of profit per day. So expensive setups and high energy costs can make it cost-prohibitive to choose this route.

Article Produced By
Ionela C.

https://theccpress.com/increased-demand-requires-increase-in-nodes-heres-everything-you-need-to-know-about-bitcoin-mining-during-lockdown/

Heiko Closhen, Entrepreneur

What you need to know about Bitcoins

What you need to know about Bitcoins

The world has come to an era where most people prefer making transactions

and payments in a digital setting. This involves carrying out digital transactions from one account to another. The FIAT currency refers to a system of money accepted all around the world. Different types of FIAT currency have established exchanges within the system. Cryptocurrencies are a new system, just like the FIAT currency system except that it is digital. Generally, cryptocurrencies refer to Bitcoins due to their popularity in the world. Here are some of the Bitcoin details.

Digital Currency

Bitcoins are decentralized digital currencies without a central bank or single administrator. It is electronic cash that is used to make transactions that include purchasing items and also conducting trade. As said before, the Bitcoin system does not have any central governing principles involved; therefore, digital tokens are sent directly from the sender to the recipient.

History of Bitcoins

Satoshi Nakamoto published a paper on Bitcoin in the year 2008. This paper suggested the establishment of a method for carrying out financial transactions in a peer to peer mode using electronic cash. As FIAT currency stays in personal bank accounts, Bitcoins also have a place to be kept. Cryptocurrency wallets such as the mobile wallets, paper wallets, desktop wallets, online wallets, and hardware wallets are used to store Bitcoins. These wallets not only keep your Bitcoins but also ensure security and give an allowance of executing transactions with your Bitcoins and other cryptocurrencies.

Blockchain Network

It is essential to know that the Bitcoins are not real assets to store; instead, they are virtual addresses stored. The whole system involves a built network called Blockchain, whereby there is the addition of individual blocks whenever a transaction is carried out. It is, therefore, easy to follow the entire history of transactions. Moreover, no one can interfere with the sequence of the chain or even remove a block. The chain only adjusts when there is an addition of a new block. Another thing to note is the presence of the private key, which is a link to your cryptocurrency account or wallet. The role of the private key is to maximize security for your assets.

Exchanges via Bitcoins

You can acquire Bitcoins by looking for credible exchanges via Bitcoins ATMs and Bitcoin mining. It is only the owner of Bitcoins that can make any Bitcoins transactions. During the initiation of a transaction, the validity of the chain would be verified to ensure that no one uses expired Bitcoins. After the transaction is approved, there is usually the addition of a new block to the chain.

Conclusion

In conclusion, the increased demand for Bitcoins has caused the scarcity to supply. This makes the value of Bitcoins to appreciate, making it a big deal to have and to use it now. Bitcoins have already made it big, and it is, therefore, advisable to invest now.

Article Produced By
Dean

Owner, Editor, and lead writer for Cryptorials. Cryptocurrency writer and trader since 2014.

https://cryptorials.io/what-you-need-to-know-about-bitcoins/

Heiko Closhen, Entrepreneur

5 Key Reasons Why Your Business Should Accept Bitcoin Help grow your business by accepting bitcoin Keep reading for 5 key reasons why your business should accept bitcoin

5 Key Reasons Why Your Business Should Accept Bitcoin

Help grow your business by accepting bitcoin. Keep reading for 5 key reasons why your business should accept bitcoin.

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Bitcoin hit the market with a bang.

The idea of a decentralized currency opened up opportunities for people and countries to freely trade in the market. Revenue rose to unimaginable levels thus begging the question, is it worth a long-term investment? Many businesses use standard, traditional modes of payment. But a new wave comes to light, where the Bitcoin can be used to grow your business. Read further and learn about five reasons why your business should accept Bitcoin.

Why Accept Bitcoin?

Cryptocurrencies like Bitcoin introduced a simpler and easier way of money transfer. The simple implementation and setup process allows Bitcoin to be stronger and bigger than any other merchant payment system. The currency can do wonders for your business, not only in marketing but also in every aspect of your business. Find out more about its benefits.

1. Customer Diversity

Modern forms of payment such as PayPal, credit card, debit cards, Google pay, and others have opened up businesses for many. The possibility of a safe and secure payment module from your business attracts clients and customers. Especially for e-commerce companies, accepting Bitcoin could be the best decision ever. Not only because it increases the forms of payment, but also because it brings diversity to the business. Learn more about how Bitcoin can change your e-commerce site. Regardless of the state, country, region, or continent, the Bitcoin allows for easy and fast transaction. Adding that option to your business is an excellent solution to higher human traffic.

2. Low Inflation Risk

Using Bitcoin is a risk because of the possibility of black market money. Even so, it’s still a viable option for your business because it poses zero risks on inflation. This means, by no chance will the money come in excess. The investment will be worthwhile for either buyers or sellers. Less risk is a huge enough factor to consider why your business should accept Bitcoin. During a time of crisis or war, such a volatile currency is what you need.

3. Cheaper Transaction Costs

Did you know running credit card expenses is approximately 3%? While for the Bitcoin is only 1% with a chance of being lower, depending on your volume of transactions. In every business, the sole purpose is to make a profit. As so, if there’s any way you can avoid losing any more of your profit, then it’s a suitable choice for your business. There are many benefits of accepting Bitcoin, which mostly translates to cheaper payments for you. Retaining Bitcoin allows for lower fees and less general expenses you may not have with credit card merchant payments.

4. Fast and Easy Payments

The standard modes of payment like the debit and credit card can take about three to five days to reflect on a purchase made on goods and services. This can cause delays in your speed of sales meaning less revenue earned. The advantage of accepting Bitcoin for your business is that the cryptocurrency isn’t regulated by banks. Hence, payments are instant. Things are done within minutes with nothing to worry about.

5. International Acceptance

Your brand can earn global acceptance just by understanding what is Bitcoin. This is because this currency builds and shapes brands, making them relatable to people all over the world. Similar to what Adobe Spark’s Logo creator does to design a unique logo for your business and make it unique to your target audience. Using Bitcoin for your business can do the same for you.

Build Your Business with Bitcoin

A change from traditional modules of payment can be a hard step to take. The uncertainty you face, if you’ll be benefiting your customers or just yourself, can render you resistant to change. But Bitcoin is different. This new revolution allows your business to grow globally, connect with people all over, and operate using low costs. It’s time to make the change for better business.

Article Produced By
Dean

Owner, Editor, and lead writer for Cryptorials. Cryptocurrency writer and trader since 2014.

https://cryptorials.io/5-key-reasons-why-your-business-should-accept-bitcoin/

Heiko Closhen, Entrepreneur