VeChain Price Uptrend Continues due to Real-World Technology Potential

VET price predictions

All of the major cryptocurrency markets continue to note impressive gains as more time progresses. Further down the rankings, most of the altcoins also remain firmly in the green, which is a very promising sight to behold. VeChain continues to truck along nicely, primarily because things are clicking together behind the scenes.

VeChain Price Climbs Higher

It is evident there are a lot of opportunities in the cryptocurrency industry these days. Altcoins often pursue very different use cases compared to Bitcoin, although not all of them will be successful in this department. VeChain appears to be heading in the right direction so far, as their technology has some real-world potential. More importantly, it is already being turned into working products and services.

This has triggered another VeChain price rise over the past 24 hours. A net $4 gain in USD value and a 2.15% gain over Bitcoin paints a very interesting short-term future. The VET value has also surpassed $0.011 again, and it will seemingly hit $0.0125 in the hours to come. There’s also a good chance VET will hit 200 Satoshi later this week, if this momentum remains in place.

The big developments this week come in the form of new announcements and exciting services. The Bright Code project offers a lot of potential in this regard as it is one of the first “services” to be released as part of the VeChain-DNV GL partnership. Making it easier for consumers to track the origins of products is of the utmost importance, and Bright Code provides a real-world usability factor as well.

The information is stored on the VeChain blockchain and offers a lot of interesting details regarding the item itself. This further shows there is a ton of potential waiting to be explored where VeChain is concerned. That alone could catapult the price to higher levels over the coming weeks and months.

Even VeChain’s technical indicators are promising as of right now. There is some solid momentum brewing, which should result in even bigger gains in the next few hours. No massive uptrend is expected for the time being, but this current slow-and-steady approach seems to work out quite well for all cryptocurrencies.

All of these indicators point toward an interesting second half of the week for VeChain. While this market momentum can take a turn for the worse at any given moment, one also has to acknowledge that for the time being things look extremely promising. Sustaining this momentum for a longer period of time will always be challenging, as this industry remains subject to a lot of market volatility first and foremost.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

The post VeChain Price Uptrend Continues due to Real-World Technology Potential appeared first on NullTX.

Blockchain Startup BlockVentures Releases Security Token Listing Platform Securities.io

This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. It should now be clear to all that data has become a commodity, and that its rise in value and importance is firmly linked to an increasingly interconnected

The post Blockchain Startup BlockVentures Releases Security Token Listing Platform Securities.io appeared first on CCN

Beginner’s Guide to Plus500: Complete Review

Plus500 Review

Plus500 is an industry leader providing contracts for difference (CFDs) and trading facilities for Crtyptocurrency, forex, shares, ETFs, commodities, indices, and options.

All trading instruments on Plus500 are leveraged. The trading platform comes from Plus500UK Ltd, and the company takes multiple steps to secure client funds and ensure a seamless user experience. Currently, Plus500 has more than 2,000 instruments in its portfolio.

Plus500 Review

Please Note: 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Visit Plus500

Plus500 At a Glance

Broker Plus500
Regulation FCA (UK), CySec (Cyprus), ASIC (Australia), MAS (Singapore), FMA (New Zealand)
Minium Initial Deposit
€100
Demo Account
Yes
Asset Coverage Crypto, Indices, Forex, Commodities, Shares, Options, ETFs
Leverage 30:1 Retail Accounts & 300:1 Professional Accounts
Trading Platforms Proprietary, Web, Mobile, Windows Desktop,

Plus500 Regulators

Plus500UK Ltd is based in the United Kingdom and has its offices in London at 78 Cornhill in EC3V 3QQ.

  • The Financial Conduct Authority (FCA) authorizes and regulates Plus500UK Ltd to offer CFDs with FRN 509909.
  • Plus500UK Limited is registered in Wales and England (with company number 07024970).
  • Plus500UK Ltd itself is a subsidiary of Plus500 Ltd, which is listed on the Main Market for Listed Companies of the London Stock Exchange and has its headquarters in Haifa.

Read about the FCA regulations for Contracts for Difference here.

Around the world, Plus500 is regulated by other agencies.

  • Plus500CY Ltd is regulated and authorized by the Cyprus Securities and Exchange Commission with license number 250/14.
  • Plus500AU Pty Ltd has AFSL # 417727, which the Australian Securities and Investments Commission issued.
  • The Monetary Authority of Singapore provided Plus500SG Pte Ltd (with UEN 201422211Z) a capital markets services license allowing it to deal in leveraged foreign exchange trading and securities, with license number CMS100648-1.
  • Plus500SG Pte Ltd additionally holds a Commodity Broker’s License with license number PLUS/CBL/2018 from Enterprise Singapore.
  • Plus500IL Ltd is licensed to operate its trading platform and registered in Israel.

By trading with a regulated company, such as Plus500, clients know that they trade using a reputable and reliable platform within an environment that is regulated. Clients are also protected by stringent regulations and rules.

Where Can You Use Plus500?

Plus500 is offered in more than 50 countries. Additionally, it is possible to use the platform in more than 30 different languages, allowing clients to trade and learn in their native language.

Clients of Plus500 have the responsibility of reporting and paying taxes according to their local laws. Certain countries also require Plus500 to withhold tax at the source.

About Plus500

History of Plus500

The founding of Plus500 took place in 2008. Over the years, it has achieved several key milestones. The same years as its founding, Plus500 Group launched its online trading platform that was PC-based.

In 2009, Plus500 Group offered CFDs on shares without any commissions.

In 2010, it launched the web-based version of its trading platform, which opened up the ability to trade online to those who use Linux, Mac, or smartphones. This was also the year that Plus500 added ETFs to its trading portfolio.

By 2011, Plus500 Group had more than 2 million transactions every single month. This year saw the launch of the very first iPad and iPhone app to give clients complete control on the go. This was followed by Plus500 becoming the highest-rated CFD trading app within the Apple App Store. Also in 2011, Plus500 increased its international portfolio with more than 1,000 different stocks from global markets.

The Android smartphone and tablet application from Plus500 Group arrived in 2012, which is also the year that Plus500 Group made the goal of becoming the top CFD trading company in the world.

In 2013, Plus500 Group went public in the London Stock Exchange’s AIM section. This is also when Plus500 made history by introducing the first Bitcoin CFD to the world.

On Feb. 26, 2014, the Plus500 Ltd market valuation on the London Stock Exchange AIM section reached $1 billion USD. This year also saw the introduction of Plus500’s Guaranteed Stop facility.

In 2015, Plus500 became a sponsor for Atletico de Madrid football club, the Spanish champions. A Windows mobile application was also added to the offerings this year.

In 2016, Plus500 introduced rollover functionality, added CFDs for options, and launched its new Web Trader, which is compatible with both mobile and desktop devices.

In 2017, Plus500 Group made a sponsorship deal with the 2017 Super Rugby Australian Conference Champions, the “Plus500 Brumbies.”

So far in 2018, Plus500 Ltd has gotten its ordinary shares listed for trading on the Main Market for Listed Companies of the London Stock Exchange and joined the UK FTSE 250 index for leading mid-cap listed companies.

Goals of Plus500

Plus500 strives to increase the trade volume of active customers by focusing on delivering a best-in-class user experience, innovation, and a range of offerings.

The emphasis on innovation also helps Plus500 work toward this goal. Plus500 additionally wishes to increase its market share in the current jurisdictions and expand its offerings into new jurisdictions.

The focus in this respect is on acquiring new customers within regulated markets, particularly Western Europe.

Another goal of Plus500 is to continue being a leader for research and development and innovation, both of which have been priorities for the company since its inception.

Finally, the broker wants to continue optimizing its operating model to drive financial performance. Thanks to the proprietary technology from Plus500, it is possible to enter new geographies without having to be physically present within those markets.

This means that Plus500 does not need to expend as much capital to enhance its geographic reach.

What Instruments Can You Trade on Plus500?

Plus500 supports trading of forex and CFDs, including indices, cryptocurrencies, commodities, shares, options, and ETFs.

In total, there are more than 2,000 trading instruments available via Plus500. There is a complete list of the trading instruments on its website via the Trading Instruments button on the main navigation bar.

At the time of writing, this list included 27 indices, 65 forex pairs, 20 commodities, 10 cryptocurrency pairs, and 81 ETFs.

Options are divided into popular options plus 23 other categories, such as Germany 30, Alphabet, and USA 500. Shares are divided into popular shares and those from 21 different countries.

Those with a strong interest in cryptocurrency will be interested to know that the supported cryptocurrency pairs on Plus500 include ETH/BTC, BTC/USD, BCH/USD, LTC/USD, ETH/USD, NEO/USD, IOT/USD, XMR/USD, XRP/USD, and EOS/USD.

As such, there is support for pairs that involve Bitcoin, Ethereum, Bitcoin Cash, Litecoin, NEO, Ripple, IOTA, Monero, and EOS.

Plus500 Cryptocurrencies

You can learn more about each instrument on the Plus500 platform by going to the Details tab for a given instrument while on the platform. Keep in mind that the listed details can change.

This is where you will find such information as the minimum trading size for a given instrument, its trading hours, its leverage, and margin requirements.

How Do You Trade with Plus500?

To open a position on Plus500, go to the Trade screen on the platform. Select your chosen instrument and then click Buy/Sell. This will open a popup box that displays the position screen.

Here, you can see the rate or price and select the size of the trade. This is also where you will see the value of the position as well as the margin required to open your trade.

Here, you will be able to set Stop Orders for risk management. The rates are updated constantly based on market movements until you click the Buy/Sell button.

Plus500 Trading

Image from Plus500, For Example Purpose Only.

To set a Trailing Stop order, go to the position screen of the Plus500 platform. From there, click on Advanced.

You will see a box for Trailing Stop. Tick it then set your chosen pips requirement for the stop to activate.

Plus500 offers four types of Stop Orders, including Trailing Stop Orders, Guaranteed Stop Orders, Close at Loss Orders (Stop Loss Orders), and Close at Profit Orders (Stop Limit Orders).

Advanced Trading

Image from Plus500, For Example Purpose Only.

To close a position, go to the Open Positions tab or go to the main screen. From there, just select Close Position. This will give you a popup box that asks you to confirm or cancel the request.

Alternatively, you can partially close a position via this popup box. If you cannot close a position, confirm that it is currently during the trading hours for the given instrument.

It is also possible for instruments to be temporarily unavailable for trading if a market event restricts the price feed. These events can include extreme volatility, underlying market suspension, or illiquidity, among others.

Plus500 Close Order

Image from Plus500, For Example Purpose Only.

What Else Should You Know about Trading with Plus500?

Traders should note that certain trading methods are prohibited according to the Plus500 user agreement, including hedging, an automated data entry system, and scalping, or trading that is considered insider trading or another type of market abuse.

If you participate in prohibited trades, Plus500 has the right to void trades and close your account.

It is also important to know that it is not possible to lose more money than you have in your account. Plus500 offers a Margin Call to avoid this issue. Margin Calls are when Plus500 closes any or all of your open positions if your equity drops below the requirement for a maintenance margin.

You can prevent this from happening by monitoring your balance and always ensuring you have enough funds. You can also request notifications if your account equity is approaching the maintenance margin value to further avoid this issue.

Margin Trading on Plus500

Trades on Plus500 are done with margins, so it is important for traders to understand the margin calculations.

Keep in mind that the margin requirements, both for initial and maintenance margin levels, vary for each financial instrument. Plus500 offers simple instructions for these calculations in its FAQ section.

The initial margin is the opening position price times the trade size times the initial margin percentage. The maintenance margin is the opening position price times the trade size times the maintenance margin percentage.

Plus500 Demo Accounts

Plus500 does offer a demo account, which is fully risk-free to use, as you cannot lose any money while using it.

Demo accounts are free, and you can select this type of account during registration. When the process prompts you to “Select Account Mode,” choose “Demo Mode.” The only difference that you will notice between a real money and demo account is that in the demo account, you do not actually trade with real money.

Everything else, from the market conditions to platform setup, is identical.

Plus500 Demo Account

Image from Plus500, For Example Purpose Only.

To help you get a feel for the platform and trading CFDs and forex, Plus500 will automatically reinstate the initial amount in your demo account if the balance drops lower than 200 EUR or its equivalent.

There is also no time limit for the demo account, a feature that sets Plus500 apart from many competitors. Conveniently, it is possible to switch between your demo and real money accounts.

This lets you hone your skills on more complicated trades or strategies in the demo account while investing real money in the real account. The option to switch between account types will appear on the app menu or on the main platform screen.

Plus500 Account Types

Plus500 recommends that clients only open a single trading account and the company reserves the right to close any subsequently opened accounts.

However, it does assess each case individually. If Plus500 allows for an additional trading account, clients cannot transfer funds between the accounts in question and they must operate independently.

Note that with Plus500, you will only find individual trading accounts as corporate or company accounts are not offered.

Plus500 Account Verification

To allow for security and identification, clients of Plus500 must verify their accounts. This includes verification of name, residential address, date of birth, email address, phone number, and payment method.

To verify your phone number, go to your Account page and click on “Verify Account.” Next to “Verify your phone,” select “Verify,” enter your phone number without your country code, and click either “Call my phone” or “Send me an SMS.” Your phone will receive a three-digit code that you should then enter into the screen on your account page.

To verify your Plus500 account, you may need to provide documentation for both proof of identity, proof of address, and verification of your funding source. Proof of identity comes via a government-issued ID that contains an identity number, a photo, your full name, your date of birth, and the date of expiry.

Account Verification

Your proof of address should display your full name and address. A utility company, financial institution, judicial authority, or government agency must issue it. The options include internet bills, TV services bills, phone bills, tax letters, gas or water bills, electricity bills, bank statements, credit card statements, and tax letters.

To upload the documents, go to your Account page and select “Verify Account” or “Upload Documents.” You can also do this via the mobile application.

If at any point in the future you need to update the account details, you can do so by contacting Plus500. When you do so, note what information needs to be changed and the reason for the change. Plus500 will review your request and let you know if additional documentation is necessary.

PLus500 Payment Methods

Depending on the type of payment method you use with Plus500, you may need to submit additional documentation to verify that the payment method in question is in your name.

If you deposit by credit or debit card, you may need to upload a scan or photo of your card, a document from the bank, or your credit card statement. In the case of a bank transfer, you may need to upload a photo or scan of proof of payment or a bank statement. For Skrill and PayPal, Plus500 undertakes online verification within several business days or immediately.

Plus500 Deposits

In most cases, Plus500 will cover any payment processing fees associated with deposits. There are rare situations when you may incur a fee associated with transferring money into or out of your Plus500 account, but those are not from Plus500; they are from your bank or payment issuer.

Those situations include when you use an international credit card and the transaction is processed via a foreign acquirer, in the case of incoming or outgoing bank transfers, and in the case of forex conversions if you deposit a currency that the selected payment method does not support.

The only deposit fees that Plus500 will charge you itself would be if you exceed the maximum monthly withdrawals.

Plus500 Fees

Most of the services from Plus500 come with no commissions or fees. There are zero fees from Plus500 associated with deposits, real-time forex quotes, live share CFD prices, opening or closing trades, rolling positions, or dynamic charts and graphs. Instead, the company makes its money from the bid and ask spreads.

Even so, Plus500 can offer some of the tightest spreads within the industry, a qualification that is based on its own internal monitoring.

You can view the Plus500 spreads yourself by logging into your account, searching for the instrument you are interested in, and clicking on the (i), which is the details icon. From there, scroll to the info section, and you will see the spread.

Plus500 Fees

In some cases, there may also be a few additional fees from Plus500, each of which depends on trading activity. There are fees for overnight funding, with the amount subtracted from or added to the account when you hold a position past a certain time.

If you choose to use a guaranteed stop order to minimize risks, you get the guarantee that a position closes at your specified rate. In exchange, the spread is wider than it is with a typical order.

Additionally, Plus500 charges an inactivity fee of up to $10 for accounts who do not log into the trading platform for at least three months.

Economic Calendar

As expected from a broker, Plus500 offers an economic calendar on its website. You can view yesterday, today, tomorrow, this week, or a specific date range you prefer.

The data on the economic calendar comes from Dow Jones. For each event, you will see the time, country/currency impacted, the title of the event, the related instruments, and the percentages for actual, forecast, and previous.

At the top of the economic calendar, you can also switch the view to a corporate events calendar. This will show you the time and day of the event, as well as the name and quantities with sections for cash, fiscal, and dividends.

Economic Calendar

Risk Management Tools

Because trading CFDs and forex includes a high amount of risk, Plus500 offers a range of tools to help keep that risk to a minimum.

The first of these is the ability to set a Close at Profit (Limit) or Close at Loss (Stop Loss) order. You can set these levels when opening new positions or editing existing ones. This type of risk management lets you set a rate at which point you will close your position automatically, protecting your profit or minimizing your loss for Close at Profit and Close at Loss orders, respectively.

Keep in mind that this type of order does not guarantee that the position closes exactly at your specified price level. Slippage may occur if the market price experiences a sudden rise or fall, which would lead to your position closing at the next price that is available.

This risk management feature is free of charge and locks in profits while limiting losses.

Risk Management Tools

Guaranteed stops are similar but place an absolute limit on the potential loss. Even in cases when the instrument price moves against you significantly, the position will automatically close at the price you specified, and it can never include slippage.

Guaranteed stops are only offered for certain instruments. If it is, you will see a checkbox for a Guaranteed Stop after you select “Close at Loss.” You cannot add a Guaranteed Stop to an existing order; instead, you must place it on a new pending/position order.

You can also only activate or edit it when the given instrument is open for trading.

There is not the option to remove an active Guaranteed Stop order, which is something you could do with a Close at Loss order. Guaranteed Stops come with an additional spread charge and this is nonrefundable but clearly displayed before you place the order.

To successfully place the order, your Guaranteed Stop level must be a predefined distance from the instrument’s current trading price. Although the spread for a Guaranteed Stop is larger, it limits your risk and lets you know your maximum loss ahead of time.

Another risk management strategy from Plus500 is a Trailing Stop, which lets you lock in profits. Trailing Stops let your order stay open for as long as the instrument’s price remains in your favor.

The order automatically closes when the price changes direction and passes the number of pips that you specify. Essentially, a Trailing Stop makes it possible to place Close at Loss orders that automatically update as long as the market moves in your favor.

The Close at Loss order gets activated when the market moves in an unfavorable direction. There is not a guarantee that using a Trailing Stop will close the position at the exact level of the Close at Loss due to slippage. This feature is also available free of charge.

Alerts for Traders

To help traders minimize their losses and make trading decisions, Plus500 offers the ability to set up a range of alerts. Alerts are free and simple to set up, and you can use them on all devices.

You set up alerts via the main trading screen by clicking on the alert icon, which is shaped like a bell. You can also view, remove, or edit your alerts via the Alerts tab that is on the application menu. To set up an alert, you start by selecting the alert icon next to the instrument you want an alert for.

You then specify the details of the alert you want, including values, and will automatically get a notification in real-time when those conditions are met. Your alerts can be sent via push notifications, email, or SMS messages.

Alerts for Traders

Price alerts will inform you the moment that an instrument reaches the sell or buy price that you specified. Change percent alerts will notify you when the absolute price of an instrument changes (either positively or negatively) of a certain level.

You can set these up to recur daily or monthly. Finally, Traders’ Sentiments alerts will automatically trigger if the percentage of sellers or buyers (among Plus500 customers) hits a certain level.

You set a percentage for buyers vs. sellers that you prefer. This last alert is unique and allows for a small element of social trading.

Plus500 Notifications

In addition to trading alerts, Plus500 also offers a range of notification options. Users can choose to receive these notifications via push, email, or SMS.

Via the main platform, set up notifications by going to your Account and then clicking on Notifications. Via the application, go to Menu, then Price Alerts, and finally, Notifications. You can get notifications when your account equity approaches the maintenance margin value as a way to prevent a margin call.

You can also set up notifications for each time you open or close a position. Just keep in mind that as these are only notifications; you must actually log into the account to perform any actions or to accurately monitor your accounts.

Is Plus500 Safe?

Plus500 takes extra measures to ensure that client funds are always protected. One of the most important steps toward reaching this goal is holding client funds on a segregated basis, as this follows the client money rules of the Financial Conduct Authority.

Additionally, Plus500 UK Ltd relies on its own money for any hedging, never using client funds for this. Plus500 UK Ltd will not pass client money to hedging counter-parties or initiate speculative positions within the market. Plus500UK Ltd also has no exposure to sovereign or corporate debt and does not invest money that belongs to retail clients.

Because Plus500 is regulated and authorized by the FCA, client funds are protected under the Financial Services Compensation Scheme (FSCS). This protection becomes useful in the unlikely event that Plus500 ceases trading or becomes insolvent. As clients from Plus500UK Ltd would have “investment” claims, the coverage from the FSCS would be £50,000 per person and per firm.

Plus 500’s Security and Privacy Features

The team do not give out an extensive amount of information on their security protocols but do state that they employ a variety of methods to maintain the integrity of their platform, and these include the use of Secured Socket Layer (SSL) encryption.

Due to the nature of the platform’s services, Plus500 handles large amounts of sensitive data such as personal identification documents, and credit card and bank details, and all data submitted into the company’s website or platforms is encrypted during the process of being transmitted which greatly hinders the possibility of client data being intercepted and misused by malicious actors.

The login process is also further secured as Plus500 also provides authentication through Google and Facebook in addition to implementing 2-factor authentication (2FA). This involves users being prompted to confirm the ownership of their accounts by using a unique confirmation code that has been sent to their email, mobile phone, or phone application.

The code expires after a few minutes, and requires the person logging into the account to have access to the linked email address or mobile phone which receives the verification code, this greatly reduces the possibility of user accounts being hacked and works in conjunction with standard user ID and password procedures.

It’s also worth noting that when using 2FA, users should make sure to back up and store their 2FA keys securely offline. In the event of losing access to a smart device or needing to reboot a phone, it will prove much easier to restore the original settings or app once the device is back in operation rather than to have to contact the broker and pass extensive identity checks.

The process of transferring funds to and from the platform is also subject to various security mechanisms, and while depositing cash is generally quite straightforward, wire transfers can take up to five days to clear.

Also users must head to the “Funds Management” section in their accounts, and click on “Deposit” and then select “Wire”. From here, clicking on the “Send me Wire Details” tab will result in Plus500 emailing the client the wiring details directly.

The email will contain all the necessary details for wiring funds to the platform’s bank and also includes the minimum and maximum deposit amount requirements for wire transfer.

When it comes to making withdrawals, in keeping with regulatory requirements, every customer is required to provide an official photo ID such as a passport, national identity card, or driver’s license before being allowed to take out their funds.

Finally, with regards to client funds, Plus500 stores all client funds in segregated bank accounts, does not invest the funds of retail clients, and instead, uses its own reserves for hedging.

Finally, in the event that Plus500 needed to file for bankruptcy, the Financial Services Compensation Scheme (FSCS) in the UK would cover each client’s losses up to the amount of £50,000.

How Suitable is Plus500 for Beginners?

As an industry leader in providing contracts for difference (CFDs) and leveraged trading, Plus500 naturally attracts a lot of attention and has over 2,000 instruments in its portfolio.

These include cryptocurrencies, commodities, Forex, ETFs, options, indices, and shares, with all trading instruments on Plus500 being leveraged.

As a result, the platform is not suitable for beginners as the practice of CFD trading is more advanced than traditional trading, and leveraged trades can result in greater losses than may have first been calculated.

CFDs are derivative products and by nature, take or derive their value from the value of another asset or security.

For example, a gold CFD will follow the price movements of gold, and if the price goes up, so does the CFD’s value. CFD trading is essentially using contracts to “bet” on whether a financial asset will increase or decrease in value, and when trading in this way, you do not actually trade with the real underlying financial asset. This means that cryptocurrency CFD traders do not actually purchase the cryptos being traded, this can act as a positive or negative with coin ownership seen as being an important aspect of buying cryptocurrencies.

Again, anyone wanting to make a bet on an increase in the price of Bitcoin can choose a BTC CFD, and when the price of Bitcoin increases by a particular percentage, the price of the BTC CFD will increase by the same percentage, with the gain being the price difference in Bitcoin, illustrating why CFDs are named Contract for Difference.

While CFDs can appear to be exciting financial instruments, they are inherently risky and are best left to experienced traders. Beginners should avoid them as they involve large amounts of research, and expertise related to limiting leverage and choosing the correct trade positions. Once again, it’s important to remember that CFDs are leveraged products and can result in significant losses.

However, Plus500 incorporates a range of features that may appeal to more experienced traders and these include a proprietary trading platform which allows traders to operate in multiple markets from the same screen while also providing technical analysis software and real time quotes for all of its products.

The trading platform can be accessed as a web based version as well as a downloadable desktop version, and the mobile app versions for iOS, and Android smartphones allows users to log into their accounts while on the move.

In addition, the platform is available in 32 languages with 24/7 email support and live chat functionality. However, there is no telephone support, which can prove problematic for anyone whose internet service goes down or computer crashes while trading, and needs to be walked through a specific problem.

Plus500 also incorporates a range of alerts and notifications, with email, SMS and push notifications all available, and users can set up alerts based upon price changes and buyer/seller sentiment changes.

Transparent portfolio and fee reports are also provided which clearly state the overnight fees charged, as well as your current portfolio status.

Alongside this, the platform’s charting tools and economic calendar are useful; however, Plus500 lacks any real variety of research tools and there are no analyst recommendations or fundamental data that allow users to keep an eye on promising assets and conduct more in depth research.

There is also no market news or daily technical analysis, and the platform also places little emphasis on providing educational resources for its clients. There is a complete lack of trading articles, blog posts explaining key markets, training videos, or supplementary resources anywhere on the website.

This highlights the fact that the service offered by Plus500 is aimed at more advanced traders who already know how to source good information and/or have developed a skill set that does not require any significant changes.

Having said that, the demo account can be opened for free, has no time limit and can be used to practise and fine tune a variety of trading strategies.

This  is valuable as trading on margin is a high risk activity and does not suit all types of traders, with operating on leverage accentuating the possible outcomes.

Anyone who is still unsure of their trading capabilities should spend a considerable amount of time learning about CFD trading and testing out strategies before moving on to open a live account.

Plus500 Customer Support

In most of the jurisdictions where you can use Plus500, the platform offers 24/7 support via email and chat.

Most questions will be answered via the FAQ section, which has a search bar and categories for Account Verification Process, Deposits, Fees & Charges, Financial Instruments, Opening an Account, Regulators, Submitting Financial Documents, Trading, and Withdrawals. Many of the FAQ answers also include videos to show you the platform.

Plus500 Live Chat

If you do not find the solution to your issue on that page, go to the left side of the FAQ page below the categories.

Here, you will see a button for emailing customer support and a button to start the online chat. You can get to the FAQ page in the first place via the Company tab on the main navigation bar or by clicking the floating button on the bottom right corner of the page that says “24/7 Support.”

Conclusion

Plus500 is a regulated broker with offices in London and more than 2,000 instruments available for trading. You can trade via Plus500 via your web browser or via its mobile application. This broker focuses on CFDs and forex, offering cryptocurrencies, indices, commodities, forex, shares, options, and ETFs.

The platform is well-designed and fairly straightforward to use and includes 24/7 customer support. It is available in a long list of countries and in 30 languages, helping Plus500 appeal to a range of traders.

It should be noted that CFD trading, especially using leverage is not something for beginners. You should have a strong knowledge foundation of how the markets work and carry out thorough research before beginning. We recommend you take advantage of the demo account first which will give you $40,000 of play money to test the system.

The fact that Plus500UK Ltd is regulated by the FCA is a huge plus and it will give you peace of mind that this trading platform operates correctly within the laws of the United Kingdom. The Plus500 Ltd company is also listed on the London Stock Exchange, which again should go towards reassuring you that this is a large a legitimate company to deal with.

Visit Plus500

Please Note: 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

The post Beginner’s Guide to Plus500: Complete Review appeared first on Blockonomi.

China’s Central Bank Issues Warning Against Blockchain Investment ‘Bubble’

China’s central bank, the People’s Bank of China (PBoC), has warned of “bubbles” in blockchain-related financing and investment.

China’s central bank, the People’s Bank of China (PBoC), has warned of “bubbles” in blockchain-related financing and investment, Reuters reported Nov. 6.

The PBoC, which is known for its anti-cryptocurrency stance, has reportedly advised that the government strengthen its supervision of “speculation, market manipulation and other irregularities,” which it claims are common in domestic blockchain investment and financing schemes.

Local Chinese news outlets have revealed further details from the bank’s latest warning, which was reportedly issued in the form of PBoC working paper Nov. 6, entitled “What Can Blockchain Do and What Can it Not?” According to think tank China Financial Forty Forum, the paper was authored by Xu Zhong, director of the Research Bureau of the PBoC, and states that:

“There are few blockchain projects that really land and produce social benefits. In addition to the low physical performance of blockchains, the shortcomings of blockchain economic functions are also important reasons. It should be based on continuous research and experimentation. Rationally objectively assess what the blockchain can and cannot do. "

Local financial news source Forex East Money has further outlined that the paper entails an economic analysis of the “tokenization” paradigm adopted by “mainstream” blockchain projects, and clarifies technological principles such as consensus mechanisms, smart contracts, and token uses within blockchain ecosystems. Forex East Money noted that the bank has also analyzed performance and security aspects of blockchain systems, concluding with an analysis of the technology’s benefits and limitations.

As reported yesterday, the PBoC has recently widened its scrutiny to include token airdrops, which it characterized as “disguised” Initial Coin Offerings (ICOs), the latter of which have been subject to an outright ban in China as of September 2017. Beyond its new focus on airdrops, the bank reiterated prior warnings against fraudulent whitepapers and crypto investment projects that masquerade as “blockchain innovation.”

Although PBoC and the Chinese political establishment have broadly adopted a positive stance towards blockchain, the PBoC’s ambivalent tone this week is not unprecedented, as other domestic regulators have similarly warned in the past against “mythologizing” the technology.

China’s Central Bank Issues Warning Against Blockchain Investment ‘Bubble’

China’s central bank, the People’s Bank of China (PBoC), has warned of “bubbles” in blockchain-related financing and investment.

China’s central bank, the People’s Bank of China (PBoC), has warned of “bubbles” in blockchain-related financing and investment, Reuters reported Nov. 6.

The PBoC, which is known for its anti-cryptocurrency stance, has reportedly advised that the government strengthen its supervision of “speculation, market manipulation and other irregularities,” which it claims are common in domestic blockchain investment and financing schemes.

Local Chinese news outlets have revealed further details from the bank’s latest warning, which was reportedly issued in the form of PBoC working paper Nov. 6, entitled “What Can Blockchain Do and What Can it Not?” According to think tank China Financial Forty Forum, the paper was authored by Xu Zhong, director of the Research Bureau of the PBoC, and states that:

“There are few blockchain projects that really land and produce social benefits. In addition to the low physical performance of blockchains, the shortcomings of blockchain economic functions are also important reasons. It should be based on continuous research and experimentation. Rationally objectively assess what the blockchain can and cannot do. “

Local financial news source Forex East Money has further outlined that the paper entails an economic analysis of the “tokenization” paradigm adopted by “mainstream” blockchain projects, and clarifies technological principles such as consensus mechanisms, smart contracts, and token uses within blockchain ecosystems. Forex East Money noted that the bank has also analyzed performance and security aspects of blockchain systems, concluding with an analysis of the technology’s benefits and limitations.

As reported yesterday, the PBoC has recently widened its scrutiny to include token airdrops, which it characterized as “disguised” Initial Coin Offerings (ICOs), the latter of which have been subject to an outright ban in China as of September 2017. Beyond its new focus on airdrops, the bank reiterated prior warnings against fraudulent whitepapers and crypto investment projects that masquerade as “blockchain innovation.”

Although PBoC and the Chinese political establishment have broadly adopted a positive stance towards blockchain, the PBoC’s ambivalent tone this week is not unprecedented, as other domestic regulators have similarly warned in the past against “mythologizing” the technology.

Go to Source
Author: Marie Huillet

Blockchain-Based Masternode Hosting Platform GIN Platform Launches New Product Lines

This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. Online masternode solution platform, GIN, has announced the launch of two brand-new hosting plans designed to further make masternode deployment and management accessible to all. The plans, more

The post Blockchain-Based Masternode Hosting Platform GIN Platform Launches New Product Lines appeared first on CCN

Russian Duma Weighs up Creation of “CryptoRuble” State-Backed Stablecoin

Russia CryptoRuble Coin

The Russian Duma is considering a new Ruble-based stablecoin. According to reports from Russian radio news station Govorit Moskva, the chairman of Russia’s State Duma Committee on Financial Markets announced that the Russian government will likely press forward with a national cryptocurrency.

Anatoly Aksakov told a press conference that the Duma is working on a plan for a Russian cryptocurrency, “but it will be a ruble-pegged cryptocurrency.” Instead of creating a new currency that would compete directly with other cryptos, the ‘Crypto Ruble’ would be pegged at 1:1 to the fiat ruble.

Russia CryptoRuble Coin

This announcement marks the first movement from a major government on the topic of a national crypto, which could be used by the general public. It could also be part of a bigger banking shift in Russia. For now, the Crypto Ruble is still just an idea, but it seems like more progress is being made by Russian lawmakers all the time.

Russian Stablecoin Would be Part of the System

The plan that chairman Anatoly Aksakov described appears to be in line with other stablecoins like Tether. Unlike a private stablecoin that relies on a bank account filled with fiat currency, the Russian plan seems to be a little bit different. An individual would be able to open a normal ruble account, and then have them ‘turned into’ Crypto Rubles.

The exact mechanism was not discussed at the press conference, but the Crypto Ruble would likely be based in blockchain. While this state-basked stablecoin probably not what crypto purists were hoping for, national stablecoins could spread the use of cryptos among people that aren’t comfortable with using cryptos like bitcoin.

National Cryptocurrencies

Read: National Cryptocurrencies: Russian Cryptoruble, Venezuelan Petro and Estonian Estcoin

In addition to being backed by a fiat currency, the Crypto Ruble would probably be accepted by other nations that have friendly relationships with Russia. At the moment there are numerous shifts happening in the Eurasian political environment, and this new program could be a part of a wider strategy from Moscow.

A Crypto Would be More Efficient

The Venezuelan Petro is pretty much a joke, as no one in their right mind wants anything to do with Venezuela or its currency. Russia has been the target of sanctions that originate in the USA, but they have an economy that supplies a tremendous amount of fossil fuels to both Europe and China. The Crypto Ruble probably wouldn’t be put into the same class as the Petro, as Russia does business with some of the largest economies on earth.

Russia also has a number of currency swap agreements with numerous trading partners, which would make establishing ruble accounts simple. Once a foreign currency has been swapped for rubles, it seems that Crypto Rubles would be a logical next step for trading partners who were willing to deal in them.

Russia is Innovating

Russia has been far more resilient to the US-led sanctions that many thought possible. As part of the sanctions, Russia was cut off from the SWIFT system, which facilitates international money transfers. Instead of bow to international pressure, Russia designed their own international money transfer platform.

Chairman Aksakov told reporters that “Our domestic system (called SPFS) for the transfer of financial messages already has more users that SWIFT has. Talks with China, Iran, Turkey and a number of other countries are currently underway in order to coordinate our system with their systems. It is important to coordinate them technologically in order to avoid problems with domestic systems for transfer of financial messages,” at a press conference in Moscow last Thursday.

A national cryptocurrency would make international transfers even easier for Russia to facilitate. The USA has been in a position of financial power for many decades, but now it looks like realistic alternatives to the established system are nearing readiness. The Crypto Ruble could be a big part of a new global payments system and would give Russia an advantage if their relationship with the USA continues to worsen.

The post Russian Duma Weighs up Creation of “CryptoRuble” State-Backed Stablecoin appeared first on Blockonomi.

Bank of America Emerges as Largest Blockchain Patent Holder

Bank of America Crypto

If there was a global race to secure blockchain patents, Bank of America would be winning. They currently have 50 approved blockchain patents. This seems like a big vote of confidence for the technology, but it could also be a way to promote their business and appear to be on the cutting edge of Fintech.

Bank of America filed their first blockchain patent in 2014. It was titled, “Wire Transfers Using Cryptocurrency,” and the U.S. Patent and Trademark Office (USPTO) approved it in September of the following year. The bank has done little to develop the platform further, and this could be indicative of their view on cryptos and blockchain technology.

Bank of America Crypto

Bank of America is Hard to Read

There are mixed views when it comes to Bank of America’s true motivations in the crypto/blockchain space. In January of 2016 they told the press they were getting ready to apply for 20 blockchain patents.

At the time Catherine Bessant, their Chief operations and technology officer, told CNBC that, “As a technologist, the technology is fascinating. We have tried to stay on the forefront. I think we have somewhere around 15 patents, most people would be surprised at Bank of America with patents in the blockchain or cryptocurrency space.”

The bank has continued to patent crypto technology. On paper, Bank of America (BoA) looks like one of the most progressive major banks out there. This might be something of a ruse, according to a former employee.

Michael Wuehler worked for BoA for more than 11 years. Now he is a blockchain specialist at ConsenSys. In August of this year, he claimed that the pile of patents that BoA holds are “meaningless” from his perspective, and may never lead to any real-world applications. He claims that BoA is patenting crypto and blockchain ideas because they want press coverage, and to shine up their innovative image.

Mr. Wuehler is listed on 8 of the 50 blockchain patents that BoA currently holds, so his views on the bank’s motivations are probably not far off the mark.

Building up a Library

Whatever their motivations, BoA has put together an impressive list of crypto and blockchain patents. Their most recent approved patent related to keeping private keys safe. It was confirmed by the USPTO on October 30th.

Apparently BoA thinks that the current safeguards for private keys are insufficient. The patent says that, “While many […] devices may provide for acquiring evidence of a security breach (i.e., physical or non-physical tampering with the device and/or the data), such devices do not provide for real-time response to such breaches, such that misappropriation of private cryptography keys is prevented.”

The bank hopes to solve this with their new patent. Their most recent approved patent continues, “Therefore, a need exists for a secure means for storing private cryptography keys. The desired storage means should reduce the risk of misappropriation of keys due to the keys being stored internally within a computing node that is frequently or, in some instances, continuously accessible via a public communication network, such as the Internet.”

From the looks of it, BoA is looking for new ways to apply their existing business model. Numerous other patents they have filed look similar, and seem to be focused on adding security to a technology that was designed to circumvent the existing banking infrastructure.

Are Cryptos a Threat?

BoA has been patenting crypto technology, but they don’t seem to be willing to let their customers take part in the crypto market. Last year they joined numerous other banks in shutting their clients out of the crypto market, via their refusal to allow the use of their bank cards at crypto exchanges.

They also issued this statement in their annual report this year, “Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies.” They were referring to cryptocurrencies, and specifically, Bitcoin.

Whether or not BoA is actually going to use any of these patents is totally unknown. The bank may be preparing for eventualities, and waiting to see what the public does. For the moment they seem to be content to patent potential great ideas, and put them on the shelf. One thing is for sure, if cryptos ever do become a major settlement technology, BoA will be ready.

The post Bank of America Emerges as Largest Blockchain Patent Holder appeared first on Blockonomi.

Ripple (XRP) Price Analysis: Downside Thrust Before Fresh Upside

Ripple XRP Price

Ripple price started a short term correction and traded below $0.5500. XRP/USD is currently trading near the key $0.5275 and $0.5200 support.

  • Ripple price traded higher towards the $0.5700 level before sellers emerged.
  • There was a break below a major bullish trend line at $0.5450 on the 30-minute chart.
  • XRP price is currently trading near a few important supports such as $0.5275 and $0.5200.

Ripple XRP Price

Ripple Price Analysis

Yesterday, we discussed that a break above $0.5200 and $0.5250 may well push ripple price towards $0.5500. The price did move past $0.5200, broke the $0.5500 resistance, and traded to a new monthly high.

Ripple Price Analysis XRP Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair formed a support base near the $0.5200 level and the 25 simple moving average (30-minute). A fresh upside wave was initiated and the price rallied above the $0.5500 and $0.5600 levels.

The price traded as high as $0.5700 before sellers emerged. Later, the price started a downside correction and traded below the $0.5560 level and the 50% Fib retracement level of the recent upside from the $0.5041 low to $0.5700 high.

Moreover, there was a break below the $0.5350 support and the 25 simple moving average (30-minute). However, the price is currently testing the $0.5300 support and the 61.8% Fib retracement level of the recent upside from the $0.5041 low to $0.5700 high.

It seems like there could be a downside push towards the $0.5200 support before buyers take control once again. On the upside, a break above the $0.5480 level is needed for uptrend continuation.

Above $0.5480 and $0.5500, the price will most likely revisit the $0.5700 swing high. The final target for buyers above $0.5700 could be near the key $0.6000 resistance level, above which the price may test $0.6200.

Overall, the current price action is positive above the $0.5275 and $0.5200 support levels in ripple. As long as the $0.5200 support is intact, XRP is likely to bounce back above the $0.5480 and $0.5500 resistance levels in the coming sessions.

The market data is provided by TradingView, Bitfinex.

The post Ripple (XRP) Price Analysis: Downside Thrust Before Fresh Upside appeared first on Blockonomi.

Ethereum (ETH) Price Analysis: $214-215 As Buy Zone Analyzed

Ethereum Price

Ethereum price tested the $225.00 resistance and later corrected lower. ETH/USD may perhaps correct towards the $214.00 level, which is a major support area.

  • Ethereum price traded further higher towards $225.00 before correcting lower.
  • ETH/USD broke an ascending curve pattern with support at $221.00 on the 30-minute chart.
  • The price may continue to correct lower towards the $214.00 or $215.00 support.

Ethereum Price

Submit a Crypto Press Release

Ethereum Price Analysis

Yesterday, we discussed that Ethereum price is likely to revisit the $219.00-220.00 zone. The price did gain pace, traded above the $220.00 zone, and spiked to a new weekly high near the $225.00 level.

Ethereum Price Analysis ETH Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair remained in a positive zone and traded above the $220.00 and $222.00 resistance levels. A fresh weekly high was formed at $225.07 before the price started a short term correction.

Sellers pushed the price below the $222.00 support and the 23.6% Fib retracement level of the last wave from the $207.83 low to $225.07 high. Moreover, there was a break below an ascending curve pattern with support at $221.00 on the same chart.

At the moment, the price is trading below $220.00 and the 25 simple moving average (30-min). If sellers remain in action, there are chances of more slides towards the $214.00-215.00 support area.

Besides, the 61.8% Fib retracement level of the last wave from the $207.83 low to $225.07 high is near $214.40 to provide support if the price continues to move down from the current levels. Any further declines below $214.00 could push the price back towards the $208.00 support area in the coming sessions.

On the other hand, if the $214.00-215.00 support area holds the current decline, the price could bounce back. An initial resistance on the upside is $222.00, above which the price may revisit the $225.00 swing high.

Therefore, there could be a downside extension in the short term towards $214.00, but buyers are likely to prevent major slides considering the current price action and technical structure.

The market data is provided by TradingView, Bitfinex.

The post Ethereum (ETH) Price Analysis: $214-215 As Buy Zone Analyzed appeared first on Blockonomi.

Bitcoin Price Watch: BTC/USD Accelerating Gains Toward $6,700

Key Points

  • Bitcoin price traded further higher and broke the $6,515 resistance area against the US Dollar.
  • There was a break above a key contracting triangle with resistance at $6,440 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price is likely to accelerate gains above the $6,550 and $6,600 levels in the near term.

Bitcoin price is placed nicely above the $6,480 support against the US Dollar. BTC/USD is likely to grind higher towards the $6,700 level in the near term.

Bitcoin Price Analysis

Yesterday, there was a minor downside correction in bitcoin price from the $6,480 swing high against the US Dollar. The BTC/USD pair corrected lower and tested the $6,375 support, which acted as a major buy zone. As a result, there was a fresh upward move and the price traded above the $6,440 and $6,475 resistance levels. Moreover, the price even broke the $6,500 resistance and settled above the 100 hourly simple moving average.

More importantly, there was a break above a key contracting triangle with resistance at $6,440 on the hourly chart of the BTC/USD pair. The price spiked above the $6,500 level and traded as high as $6,553. Later, there was a downside correction below the $6,540 level. Sellers pushed the price below the 23.6% Fib retracement level of the recent wave from the $6,403 swing low to $6,553 high. However, there are many buy zones on the downside near the $6,475 level. Besides, the 50% Fib retracement level of the recent wave from the $6,403 swing low to $6,553 high is also at $6,478.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is placed nicely above the $6,475 and $6,440 support levels. It will most likely continue to accelerate gains above the $6,550 and $6,600 levels in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is slowly reducing its bullish slope.

Hourly RSI (Relative Strength Index) – The RSI is currently well above the 50 level.

Major Support Level – $6,475

Major Resistance Level – $6,550

The post Bitcoin Price Watch: BTC/USD Accelerating Gains Toward $6,700 appeared first on NewsBTC.

Go to Source
Author: Aayush Jindal

Bitcoin Price Watch: BTC/USD Accelerating Gains Toward $6,700

Key Points

  • Bitcoin price traded further higher and broke the $6,515 resistance area against the US Dollar.
  • There was a break above a key contracting triangle with resistance at $6,440 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price is likely to accelerate gains above the $6,550 and $6,600 levels in the near term.

Bitcoin price is placed nicely above the $6,480 support against the US Dollar. BTC/USD is likely to grind higher towards the $6,700 level in the near term.

Bitcoin Price Analysis

Yesterday, there was a minor downside correction in bitcoin price from the $6,480 swing high against the US Dollar. The BTC/USD pair corrected lower and tested the $6,375 support, which acted as a major buy zone. As a result, there was a fresh upward move and the price traded above the $6,440 and $6,475 resistance levels. Moreover, the price even broke the $6,500 resistance and settled above the 100 hourly simple moving average.

More importantly, there was a break above a key contracting triangle with resistance at $6,440 on the hourly chart of the BTC/USD pair. The price spiked above the $6,500 level and traded as high as $6,553. Later, there was a downside correction below the $6,540 level. Sellers pushed the price below the 23.6% Fib retracement level of the recent wave from the $6,403 swing low to $6,553 high. However, there are many buy zones on the downside near the $6,475 level. Besides, the 50% Fib retracement level of the recent wave from the $6,403 swing low to $6,553 high is also at $6,478.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is placed nicely above the $6,475 and $6,440 support levels. It will most likely continue to accelerate gains above the $6,550 and $6,600 levels in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is slowly reducing its bullish slope.

Hourly RSI (Relative Strength Index) – The RSI is currently well above the 50 level.

Major Support Level – $6,475

Major Resistance Level – $6,550

The post Bitcoin Price Watch: BTC/USD Accelerating Gains Toward $6,700 appeared first on NewsBTC.

EOS, Litecoin, Stellar, Tron, Cardano Price Analysis: Early Stages of a Mega Rally

It’s back to profitability for most altcoins as they register double digit gains. Leading the pack is XLM/USD and ADA/USD trading above important resistance levels. We expect most altcoins to keep expanding throughout this week as they reverse 2018 losses as price action form the foundation of a mega-rally.

Let’s have a look at these charts:

EOS/USD Price Analysis

EOS/USD Price Analysis

At the back of strong gains, EOS/USD is up four percent in the last day and 12 percent in the last week. The result is clear and most importantly prices are edging higher towards the $7 buy trigger mark. But, before the $7 resistance mark is hit, today we might see the total reversal of Oct 11 losses. Once that prints, we suggest aggressive type of buyers to buy on dips with stops at the breakout lows.

However, risk reward considerations should be top priority and traders should take note not to risk more than they can earn. It’s for this reason that it is ideal for all traders to trade according to previous EOS/USD trade plan, buying on dips only when prices are above the $7 mark. Thereafter, first target would be at $9 and later $15.

LTC/USD Price Analysis

Moving forward, traders can margin trade BTC/LTC pair at OkEx. At the same time, it will be possible to send and receive Litecoin at Facebook messenger following their partnership with Lite.im. No doubt this partnership goes a long way in exposing Litecoin to more than 2 billion customers at Facebook who in turn could help steady LTC/USD due to increase in demand.

Lite.im uses a feature which allow coins to be sent and received through SMS. As such it is important for users to register using their valid email address and phone number.

LTC/USD Price Analysis

The expansion of LTC/USD is driving prices towards the $60 bull trigger line. Because of the last two days higher highs, it is likely that we shall trade within a bullish breakout pattern as prices race above $60 reversing Oct 11 losses for a larger three-bar bull of which the pin bar will be the small range bars from Oct 12 to Nov 3.

As such, we suggest risk-off traders to begin loading up at spot once prices close above the minor resistance trend line with first targets at $70.

XLM/USD Price Analysis

XLM/USD Price Analysis

After adding 15 percent in the last week, XLM/USD pair is now trading above 25 cents in a bear break out pattern. Since our last XLM/USD trade conditions are now live, we suggest buying on dips or at spot with first targets at 30 cents.

Note that $0.3 is an important resistance level and since prices are trending comfortably above Oct 11 highs, it is likely that bulls will drive prices higher rallying above 30 cents completing a major bull break out pattern. From there on, first target will be 50 cents as laid out in our last XLM/USD trade plan.

TRX/USD Tron Price Analysis

Thanks to Tron-Dice and other gambling dApps, Tron’s on-chain transactions are on the rise smashing through the one million mark.

It’s a new milestone and goes demonstrating how Tron is emerging as a smart contracting platform that is ready to take on Ethereum replacing it on matters governance, technology and execution.

TRX/USD Price Analysis

Like other altcoins, TRX/USD is on the rise building on their bull momentum from the Oct 31 pin bar. Though prices are yet to break and close above Sep highs, the general upbeat expectation in the space would easily buoy prices lifting them above key trigger line.

Anyhow, because of prevailing sentiment, traders can ride with the tide loading at spot prices with stops at 2.2 cents and first targets at 3 cents and later 4 cents. The only move that cancels this projection is if TRX/USD sink below 2 cents closing below the support trend line of this ascending wedge.

ADA/USD Price Analysis

ADA/USD Price Analysis

Not only do we have a bull break out line as prices bounce off 7 cents, but odds are our ideal trade conditions will be met. But, as prices race towards 9.5 cents or Oct highs, traders can begin buying at spot prices with stops at 7.5 cents.

As laid out in our last ADA/USD price analysis, moves above 9.5 cents mean prices will most likely break above 12 cents cancelling the bear break out pattern of early August.

All Charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

The post EOS, Litecoin, Stellar, Tron, Cardano Price Analysis: Early Stages of a Mega Rally appeared first on NewsBTC.

Go to Source
Author: Dalmas Ngetich

EOS, Litecoin, Stellar, Tron, Cardano Price Analysis: Early Stages of a Mega Rally

It’s back to profitability for most altcoins as they register double digit gains. Leading the pack is XLM/USD and ADA/USD trading above important resistance levels. We expect most altcoins to keep expanding throughout this week as they reverse 2018 losses as price action form the foundation of a mega-rally.

Let’s have a look at these charts:

EOS/USD Price Analysis

EOS/USD Price Analysis

At the back of strong gains, EOS/USD is up four percent in the last day and 12 percent in the last week. The result is clear and most importantly prices are edging higher towards the $7 buy trigger mark. But, before the $7 resistance mark is hit, today we might see the total reversal of Oct 11 losses. Once that prints, we suggest aggressive type of buyers to buy on dips with stops at the breakout lows.

However, risk reward considerations should be top priority and traders should take note not to risk more than they can earn. It’s for this reason that it is ideal for all traders to trade according to previous EOS/USD trade plan, buying on dips only when prices are above the $7 mark. Thereafter, first target would be at $9 and later $15.

LTC/USD Price Analysis

Moving forward, traders can margin trade BTC/LTC pair at OkEx. At the same time, it will be possible to send and receive Litecoin at Facebook messenger following their partnership with Lite.im. No doubt this partnership goes a long way in exposing Litecoin to more than 2 billion customers at Facebook who in turn could help steady LTC/USD due to increase in demand.

Lite.im uses a feature which allow coins to be sent and received through SMS. As such it is important for users to register using their valid email address and phone number.

LTC/USD Price Analysis

The expansion of LTC/USD is driving prices towards the $60 bull trigger line. Because of the last two days higher highs, it is likely that we shall trade within a bullish breakout pattern as prices race above $60 reversing Oct 11 losses for a larger three-bar bull of which the pin bar will be the small range bars from Oct 12 to Nov 3.

As such, we suggest risk-off traders to begin loading up at spot once prices close above the minor resistance trend line with first targets at $70.

XLM/USD Price Analysis

XLM/USD Price Analysis

After adding 15 percent in the last week, XLM/USD pair is now trading above 25 cents in a bear break out pattern. Since our last XLM/USD trade conditions are now live, we suggest buying on dips or at spot with first targets at 30 cents.

Note that $0.3 is an important resistance level and since prices are trending comfortably above Oct 11 highs, it is likely that bulls will drive prices higher rallying above 30 cents completing a major bull break out pattern. From there on, first target will be 50 cents as laid out in our last XLM/USD trade plan.

TRX/USD Tron Price Analysis

Thanks to Tron-Dice and other gambling dApps, Tron’s on-chain transactions are on the rise smashing through the one million mark.

It’s a new milestone and goes demonstrating how Tron is emerging as a smart contracting platform that is ready to take on Ethereum replacing it on matters governance, technology and execution.

TRX/USD Price Analysis

Like other altcoins, TRX/USD is on the rise building on their bull momentum from the Oct 31 pin bar. Though prices are yet to break and close above Sep highs, the general upbeat expectation in the space would easily buoy prices lifting them above key trigger line.

Anyhow, because of prevailing sentiment, traders can ride with the tide loading at spot prices with stops at 2.2 cents and first targets at 3 cents and later 4 cents. The only move that cancels this projection is if TRX/USD sink below 2 cents closing below the support trend line of this ascending wedge.

ADA/USD Price Analysis

ADA/USD Price Analysis

Not only do we have a bull break out line as prices bounce off 7 cents, but odds are our ideal trade conditions will be met. But, as prices race towards 9.5 cents or Oct highs, traders can begin buying at spot prices with stops at 7.5 cents.

As laid out in our last ADA/USD price analysis, moves above 9.5 cents mean prices will most likely break above 12 cents cancelling the bear break out pattern of early August.

All Charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

The post EOS, Litecoin, Stellar, Tron, Cardano Price Analysis: Early Stages of a Mega Rally appeared first on NewsBTC.

Block Ventures Announces Launch of Tokens and Securities Listing Platform

blockventures

ICOs are Upgrading to STOs

As the blockchain space continues to evolve, huge milestones are covered in order to reach new levels of stability. So far, we’ve seen the advent of smart contracts, the development of scalable blockchains, and an increased interest from institutional investors. Another important evolution includes the development of a security-type token in place of utility tokens.

Security tokens are considered the next megatrend in blockchain development, and a lot of investors are bullish about it. This is due to the fact that they provide a form of stability and security of investment, and grant investors voting rights in company decision making processes. In other words, investors now have an opportunity to actually own a part of the company, as observed in the traditional capital markets.

Block Ventures’ Response

In the wake of this development, ICO affiliate network Block Ventures recently launched its security listing platform securities.io, which is a first of its kind to provide a complete auxiliary database about STOs. Block Ventures is an investment firm that specializes in building practical solutions for the blockchain and cryptocurrency industry. Its goals are to design products that people can use.

Securities.io is designed to be a transparent news and listing platform that collates information from different credible data sources about security tokens in order to empower the financial backer with sufficient STO information module. The platform features industry and legislative news, interviews with industry leaders, and token listings.

A New Horizon for Blockchain Investors

The tendency for new startups and blockchain promoters to venture into security token types is high. This has become rather necessary as a result of the aggressive crackdowns by the SEC on ICOs issuing securities as opposed to claimed utilities. Howey’s test is the industry litmus for determining which ICOs are under the false pretense of a utility token offering and are actually offering securities.

A number of security tokens have emerged since 2017, and securities.io lists about 22 of them so far. Some of the already launched ICOs are switching to STO standards, such as RAD Lending and Linkchain among others. While it may be puzzling to some ‘traditional’ ICO investors, as to why this wasn’t the case earlier with ICOs, it does seem logical for project developers to consider the alternative security tokens as a way to avert the judgment of regulatory commissions such as the SEC, and also for investors to have more trust in these platforms.

The CEO of securities.io Antoine Tardif is confident about the services on the platform, saying;

“Securities.io will become the go-to resource for investors who wish to source investments in tokenized securities, and for companies who are launching securities to recruit investors.”

It appears that the platform will also empower investors to seek out new investment opportunities while being exposed to new security token offerings. Antoine offers securities.io as a one-stop shop of information resource tools for tokenized securities, saying:

“Many users are confused about security tokens, and we want to make it easy for them to locate this information. We plan on differentiating ourselves by specializing exclusively in tokenized securities.”

The fate of utility tokens may have been decided as soon as the crackdowns on ICOs began and it’s only a matter of time before security token offerings (STOs) replace initial coin offerings (ICOs).

Learn more about Securities.io by visiting their website. Meet the team members here. For more updates, follow them on Twitter.


This is a sponsored article and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

The post Block Ventures Announces Launch of Tokens and Securities Listing Platform appeared first on NullTX.

More than a Quarter of Young Germans are Interested in Crypto Investing

Hesse and Saxony, two states in Germany, recently conducted a joint survey of over 1,000 citizens as regards their feelings toward Bitcoin, a German news outlet reports. The findings of the survey probably don’t surprise anyone: younger people were more receptive to the idea of Bitcoin and other cryptocurrencies, with 28% of people aged 18

The post More than a Quarter of Young Germans are Interested in Crypto Investing appeared first on CCN

XRP Price Push to $0.55 Stalls Despite Additional Exchange Liquidity

NulLTX XRP price Stalling

Another day dawns upon the cryptocurrency ecosystem and it seems things remain in the green, for now. A lot of eyes are still on XRP after yesterday’s massive uptrend. Those gains are still in place, albeit XRP has come up short of overtaking Ethereum in terms of market cap for more than a few hours.

XRP Price Rise is far From Over

After what happened throughout most of 2018, it is all the more surprising to see XRP continue its uptrend at this time. Not because the asset isn’t valuable or even undervalued, but rather because this year hasn’t allowed for any major uptrend which lasted for over a few hours. This time around seems to be very different, although the going is still relatively subdued, for now.

With these price gains of yesterday still in place, things have taken a very interesting turn where XRP is concerned. Another 1% gain has formed on the charts in the first few hours, albeit there is some concern in the BTC department. A minor setback against Bitcoin is not something to be overly concerned about, but it is not promising either. XRP Will need to remain above 8,000 Satoshi to stay above $0.5.

As is usually the case when XRP gets momentum, there will be some pieces of information to disrupt things Swift, often considered to be one of Ripple’s major competitors, has made it clear they are not interested in partnering with Ripple or using any of its products. That is not entirely surprising by any means, primarily because Swift is confident they can remain the top dog without too many problems.

In other news, it would appear XRP is getting a bit more liquidity across different exchanges and trading platforms. XDAEX, for example, has resumed XRP trading this week, and users can exchange this asset against both Bitcoin and USDC. This is another interesting development, as more and more exchanges pay attention to this digital asset as of late.

Another exchange is paying attention to XRP, as the platform will offer XRP/USD and XRP/BTC trading. CGCX is a Singapore-based exchange which offers fiat to fiat and crypto to fiat trading alike. By actively supporting XPR, among other currencies and assets, the company will undoubtedly get some attention moving forward.

All of the current momentum seems to indicate there may be future XRP price gains on the horizon. A push to $0.55 is not impossible by any means, although it will mainly depend on whether or not the asset will continue to lose ground against Bitcoin. Its trading volume has surpassed $1.18bn again, which is a rather bullish sign under the current circumstances.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

The post XRP Price Push to $0.55 Stalls Despite Additional Exchange Liquidity appeared first on NullTX.

Ripple Price Analysis: After 55 cents, XRP/USD Bulls Now Aim $1.65

With shifting sentiment and new-found bull momentum, XRP/USD is rising. It’s up 20 percent in the last week and trading above 55 cents meaning following yesterday’s spike in market participation. Because our trade conditions are now live, we suggest traders to buy at spot in line with week ending Sep 23 bull trend.

Latest Ripple News

It’s that time of the year to fill your crypto bags. Double digit gains and rumors of SWIFT integration was enough to temporarily propel XRP market cap above that of Ethereum. But the writing has been on the wall for a while now and it is just a matter of time. After all, the difference in market cap is less than $100 million at the time of press. Though SWIFT quashed this rumor saying they won’t make use of any of Ripple’s solutions, the latter is quickly becoming a threat. Rumors of partnership spread after Ripple attendance of SWIFT’s Sibos Conference late last month.

From fast execution to partnership acceleration, Ripple is quickly carving out market share in an area long dominated by SWIFT and other cross border remittance service providers as Western Union and MoneyGram.

We are yet to see what will happen because SWIFT will be updating their protocol this month of which member banks would have to upgrade to SWIFT GPI, a new global payment platform which was rumored to integrate with xRapid and RippleNet. The upgrade will allow banks plugged to the SWIFT network track transactions in real-time.

XRP/USD Price Analysis

Weekly Chart

XRP/USD Price Analysis

Clearly, XRP/USD is back on trend after two weeks of accumulation in lower time frames confirming our previous assertions. All things constant, we expect prices to race above 80 cents now that XRP/USD is above the 50 percent retracement mark anchoring on Sep 2018 high lows.

Though bulls are in charge, the 40 cents tag is important marking the upper limit of our support zone. As a previous resistance now support, the reaction at this level has been spectacular. Moving on, favorable sentiment and market wide expansion will strengthen bulls aiding them as they bottom out from the 2018 dredges.

Daily Chart

XRP/USD Price Analysis

What we have in the daily chart is a bull break out and XRP/USD pair is now trading above 55 cents as bulls snap back to trend after a whole month of correction and horizontal consolidation. Even though we retain a bullish outlook on this pair, Nov 6 breakout did print with high trading volumes–doubling that of the last 40 days meaning these higher highs have the backing of strong hands. Therefore, if anything, we suggest traders to load up at spot prices with first targets at 80 cents marking the tops of week ending Sep 23 highs. Safe stops would be at Nov 6 lows at 50 cents.

All charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

The post Ripple Price Analysis: After 55 cents, XRP/USD Bulls Now Aim $1.65 appeared first on NewsBTC.

Go to Source
Author: Dalmas Ngetich

Ripple Price Analysis: After 55 cents, XRP/USD Bulls Now Aim $1.65

With shifting sentiment and new-found bull momentum, XRP/USD is rising. It’s up 20 percent in the last week and trading above 55 cents meaning following yesterday’s spike in market participation. Because our trade conditions are now live, we suggest traders to buy at spot in line with week ending Sep 23 bull trend.

Latest Ripple News

It’s that time of the year to fill your crypto bags. Double digit gains and rumors of SWIFT integration was enough to temporarily propel XRP market cap above that of Ethereum. But the writing has been on the wall for a while now and it is just a matter of time. After all, the difference in market cap is less than $100 million at the time of press. Though SWIFT quashed this rumor saying they won’t make use of any of Ripple’s solutions, the latter is quickly becoming a threat. Rumors of partnership spread after Ripple attendance of SWIFT’s Sibos Conference late last month.

From fast execution to partnership acceleration, Ripple is quickly carving out market share in an area long dominated by SWIFT and other cross border remittance service providers as Western Union and MoneyGram.

We are yet to see what will happen because SWIFT will be updating their protocol this month of which member banks would have to upgrade to SWIFT GPI, a new global payment platform which was rumored to integrate with xRapid and RippleNet. The upgrade will allow banks plugged to the SWIFT network track transactions in real-time.

XRP/USD Price Analysis

Weekly Chart

XRP/USD Price Analysis

Clearly, XRP/USD is back on trend after two weeks of accumulation in lower time frames confirming our previous assertions. All things constant, we expect prices to race above 80 cents now that XRP/USD is above the 50 percent retracement mark anchoring on Sep 2018 high lows.

Though bulls are in charge, the 40 cents tag is important marking the upper limit of our support zone. As a previous resistance now support, the reaction at this level has been spectacular. Moving on, favorable sentiment and market wide expansion will strengthen bulls aiding them as they bottom out from the 2018 dredges.

Daily Chart

XRP/USD Price Analysis

What we have in the daily chart is a bull break out and XRP/USD pair is now trading above 55 cents as bulls snap back to trend after a whole month of correction and horizontal consolidation. Even though we retain a bullish outlook on this pair, Nov 6 breakout did print with high trading volumes–doubling that of the last 40 days meaning these higher highs have the backing of strong hands. Therefore, if anything, we suggest traders to load up at spot prices with first targets at 80 cents marking the tops of week ending Sep 23 highs. Safe stops would be at Nov 6 lows at 50 cents.

All charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

The post Ripple Price Analysis: After 55 cents, XRP/USD Bulls Now Aim $1.65 appeared first on NewsBTC.

BitFury $80M Funding Round Attracts Galaxy Digital’s Novogratz

Achain Enters Phase 2 of its Development: ‘Galaxy’

Bitcoin mining infrastructure company BitFury Group has closed a private funding round worth $80 million from both global and cryptocurrency-focused investors.

Cash To Fund ‘Hardware And Software’ Objectives

In a press release November 6, BitFury, which is also rumored to be planning an IPO, revealed Mike Novogratz’s Galaxy Digital to be among the participants in the round, which was led by European venture capital firm Korelya Capital.

“This private placement will take our corporate governance to the next level, broaden our financial strategic options, and ideally position us for our next phase of growth as the market matures,” executive vice president George Kikvadze commented on the plans for the fresh funding.

The cash injection appears destined to be spread across BitFury’s empire, the head of the company’s Russian arm confirming it would seek expansion into next year. 

Dmitry Ufaev added:

It is a great day for Bitfury and for the future of blockchain and bitcoin technology […] This private placement will help us pursue many new objectives in Russia and Europe in 2019 in both hardware and software.

Novogratz

IPO Preparations?

BitFury is yet to confirm its plans to conduct a public flotation, placing it in a similar position to industry stalwart Bitmain, already the source of IPO rumors for several months.

If BitFury’s rumored plans go ahead, it will seek a valuation of up to $5 billion, Bloomberg reports.

Novogratz meanwhile, continuing to pledge his trust in a resurgence of Bitcoin prices during the first half of next year, is conspicuous in his input.

“We are excited to partner with Bitfury,” he commented, adding that the company’s various attributes were “essential to advancing the underlying bitcoin ecosystem.”

According to the Galaxy Digital CEO, institutional investors experiencing ‘FOMO’ (‘fear of missing out’) will push Bitcoin prices to new highs next year, with a return to $10,000 coming as soon as Q1.

What do you think about BitFury’s funding? Let us know in the comments below!


Images courtesy of Bitcoinist archives, Shutterstock.

The post BitFury $80M Funding Round Attracts Galaxy Digital’s Novogratz appeared first on Bitcoinist.com.

Tether (USDT) Confirms New Banking Partner Deltec

Tether Report Audit

Having weathered the storm of controversies surrounding ties with the Puerto-Rico-based Noble Bank, Tether Limited confirmed Deltec Bank & Trust as its new banking partner in a statement on November 1. The issuer of the dollar-pegged stablecoin (USDT) put rumors to rest after it announced the Bahamas-based banking provider and trust services as the financial institution where its funds are now domiciled. The statement recapitulated on all tether in circulation being fully backed by US dollars.

Tether Report Audit

According to its website, Deltec Bank & Trust Limited was founded in Nassau, Bahamas in 1959. It specializes in the provision of private banking, wealth, and trust services, family office services, investment management, and others. The company operates as a subsidiary of Atlas Capital Group Holdings.

“USDT in the market are fully backed by US dollars that are safely deposited in our bank accounts,” the statement reads.

Even though the speculation has been rife in recent weeks, Tether clarified Deltec’s decision to accept it “after due diligence review of our company”. The statement expatiate further:

“This included, notably, an analysis of our compliance processes, policies and procedures; a full background check of the shareholders, ultimate beneficiaries and officers of our company; and assessments of our ability to maintain the USD-peg at any moment and our treasury management policies”

Statement Clears the Air on Approval in the US

The Hong-Kong based Tether Limited is registered with the Financial Crimes Enforcement Network of the US Department of the Treasury and subscribes to the highest standards of the Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) procedures.

Cash Value Revealed

Knowing well the skepticism surrounding the existence of the US dollars backing the tether in circulation, Tether Limited quelled misgivings by disclosing a letter obtained from Deltec Bank and Trust Limited stating a sum of $1,831,322,828 as the cash value of Tether’s account.

Whereas, the circulating supply of tether reported on coinmarketcap.com is $1,776,421,736. The surplus in funds lends credence to the company’s stance of all circulating USDT being backed by US Dollars.

Controversies with Noble Bank

Tether and its cryptocurrency exchange Bitfinex considered other options for banking support after Noble Bank began to seek a buyer following 2018’s elongated cryptocurrency bear market. The bank  reeled under flailing revenues and opted to “sell itself for a price between $5 million and $10 million based largely on the value of its Puerto Rican license to operate as an international financial entity.”

With the latest statement, speculations surrounding the imminent collapse of Tether and Bitfinex will surely be put to rest in the meantime.

Scrutiny not Yet Over?

Deltec  Bank & Trust Limited issued a letter to Tether Limited confirming the portfolio cash value of its account based on the information currently in its possession.

Eyebrows were raised after the letter was signed by “Deltec Bank & Trust Limited” with something more like a scribble. The absence of an undertaker appending his or her signature means the holding report was issued without liability.

It will be recalled that Tether’s transparency update in June was put under intense scrutiny, causing the company to enlist the services of Freeh, Sporklin & Sullivan LLP (FSS) to assess bank documents and conduct a random inspection of circulating Tethers and corresponding reserves of US dollars. Tether was not privy to the balance confirmation dates that were chosen according to the FSS report.

The firm went on to confirm that “Tether’s unencumbered assets exceed the balance of fully-backed USD Tethers in circulation as of June 1st, 2018.” The law firm, however, noted in the report that their financial review was not conducted with Generally Accepted Auditing Standards because they are not an accounting firm.

The post Tether (USDT) Confirms New Banking Partner Deltec appeared first on Blockonomi.

Tether (USDT) Confirms New Banking Partner Deltec

Tether Report Audit

Having weathered the storm of controversies surrounding ties with the Puerto-Rico-based Noble Bank, Tether Limited confirmed Deltec Bank & Trust as its new banking partner in a statement on November 1. The issuer of the dollar-pegged stablecoin (USDT) put rumors to rest after it announced the Bahamas-based banking provider and trust services as the financial institution where its funds are now domiciled. The statement recapitulated on all tether in circulation being fully backed by US dollars.

Tether Report Audit

According to its website, Deltec Bank & Trust Limited was founded in Nassau, Bahamas in 1959. It specializes in the provision of private banking, wealth, and trust services, family office services, investment management, and others. The company operates as a subsidiary of Atlas Capital Group Holdings.

“USDT in the market are fully backed by US dollars that are safely deposited in our bank accounts,” the statement reads.

Even though the speculation has been rife in recent weeks, Tether clarified Deltec’s decision to accept it “after due diligence review of our company”. The statement expatiate further:

“This included, notably, an analysis of our compliance processes, policies and procedures; a full background check of the shareholders, ultimate beneficiaries and officers of our company; and assessments of our ability to maintain the USD-peg at any moment and our treasury management policies”

Statement Clears the Air on Approval in the US

The Hong-Kong based Tether Limited is registered with the Financial Crimes Enforcement Network of the US Department of the Treasury and subscribes to the highest standards of the Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) procedures.

Cash Value Revealed

Knowing well the skepticism surrounding the existence of the US dollars backing the tether in circulation, Tether Limited quelled misgivings by disclosing a letter obtained from Deltec Bank and Trust Limited stating a sum of $1,831,322,828 as the cash value of Tether’s account.

Whereas, the circulating supply of tether reported on coinmarketcap.com is $1,776,421,736. The surplus in funds lends credence to the company’s stance of all circulating USDT being backed by US Dollars.

Controversies with Noble Bank

Tether and its cryptocurrency exchange Bitfinex considered other options for banking support after Noble Bank began to seek a buyer following 2018’s elongated cryptocurrency bear market. The bank  reeled under flailing revenues and opted to “sell itself for a price between $5 million and $10 million based largely on the value of its Puerto Rican license to operate as an international financial entity.”

With the latest statement, speculations surrounding the imminent collapse of Tether and Bitfinex will surely be put to rest in the meantime.

Scrutiny not Yet Over?

Deltec  Bank & Trust Limited issued a letter to Tether Limited confirming the portfolio cash value of its account based on the information currently in its possession.

Eyebrows were raised after the letter was signed by “Deltec Bank & Trust Limited” with something more like a scribble. The absence of an undertaker appending his or her signature means the holding report was issued without liability.

It will be recalled that Tether’s transparency update in June was put under intense scrutiny, causing the company to enlist the services of Freeh, Sporklin & Sullivan LLP (FSS) to assess bank documents and conduct a random inspection of circulating Tethers and corresponding reserves of US dollars. Tether was not privy to the balance confirmation dates that were chosen according to the FSS report.

The firm went on to confirm that “Tether’s unencumbered assets exceed the balance of fully-backed USD Tethers in circulation as of June 1st, 2018.” The law firm, however, noted in the report that their financial review was not conducted with Generally Accepted Auditing Standards because they are not an accounting firm.

The post Tether (USDT) Confirms New Banking Partner Deltec appeared first on Blockonomi.

ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Evade US Sanctions

ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Avoid US Sanctions

Malta’s Pilatus Bank has been shut down by the European Central Bank (ECB). Its banking license was revoked after its chairman was charged in the U.S. with money laundering and organizing a scheme to evade U.S. sanctions. The bank had also been accused by a murdered journalist of processing corrupt payments. EU authorities now want new powers to crack down on money laundering.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Pilatus Bank’s License Revoked

ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Evade US SanctionsMalta Financial Services Authority (MFSA) announced on Monday that the ECB has withdrawn the banking license of Pilatus Bank which has been operating in Malta for four years.

The Financial Times elaborated:

The move comes several months after U.S. authorities charged the bank’s Iranian-born owner and former chairman Seyed Ali Sadr Hasheminejad with organising a scheme to evade U.S. sanctions against Iran by illegally funnelling more than $115 million from Venezuela to Iranian-controlled companies.

ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Evade US Sanctions“The bank was charged in the United States over money laundering and bank fraud,” Reuters added.

Although Seyed Ali Sadr Hasheminejad pleaded not guilty and has been released on bail, MFSA removed him from his roles at the bank and froze the bank’s assets. In June, the regulator recommended revoking the bank’s license but faced numerous legal hurdles. On Monday, MFSA said that “the ECB had acted on its request to close the bank,” the Guardian wrote.

Pilatus Bank, which caters to wealthy clients, reported 308 million euros ($351.64 million) of assets in 2016, according to the bank’s annual report. Last year, it opened a branch in London after obtaining a U.K. banking license. The bank “was known to have held accounts for a senior official in the government of the Maltese prime minister, Joseph Muscat, and members of Azerbaijan’s ruling family,” the Financial Times detailed.

Murdered Journalist’s Case

ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Evade US Sanctions
Daphne Caruana Galizia.

Pilatus Bank had also been accused of “processing corrupt payments for senior Azeri and Maltese figures” by Maltese investigative journalist Daphne Caruana Galizia, Reuters described.

Caruana Galizia was killed by a car bomb in Malta a year ago. However, there has been no proven link between her murder and her story about the bank, the publication conveyed. Nonetheless, the event prompted the EU to begin investigating the bank in October last year.

“Three men suspected of killing her – brothers George and Alfred Degiorgio and their friend Vince Muscat – were arrested during a police operation in December 2017,” the BBC added.

Maltese Authorities Investigated

ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Evade US SanctionsThe ECB launched two investigations of how Malta dealt with Pilatus Bank last year, Reuters detailed. The first focused on MFSA but the case was closed in September “in part due to the vagueness of EU regulation,” European Banking Authority Chairman Andrea Enria told EU lawmakers.

The second investigation focused on the Maltese Financial Intelligence Analysis Unit (FIAU), the country’s anti-money laundering agency. Enria emphasized that this investigation has uncovered “serious shortcomings that the body did not remedy,” the publication noted. A senior EU official explained:

The European Commission reached preliminary agreement on Monday on new actions against the FIAU over its handling of the Pilatus case, which will force Malta to improve the way its anti-money laundering body operates.

Citing that U.S. authorities played a big role in uncovering alleged illicit banking activities in several European cases, the Guardian reported that “EU authorities want new powers to crack down on money laundering after a string of scandals in Estonia, Latvia and Malta.”

What do you think of the ECB shutting down Pilatus Bank? Let us know in the comments section below.


Images courtesy of Shutterstock, Lovin Malta, FIAU, MFSA, and Pilatus Bank.


Need to calculate your bitcoin holdings? Check our tools section.

The post ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Evade US Sanctions appeared first on Bitcoin News.

ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Evade US Sanctions

ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Avoid US Sanctions

Malta’s Pilatus Bank has been shut down by the European Central Bank (ECB). Its banking license was revoked after its chairman was charged in the U.S. with money laundering and organizing a scheme to evade U.S. sanctions. The bank had also been accused by a murdered journalist of processing corrupt payments. EU authorities now want new powers to crack down on money laundering.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Pilatus Bank’s License Revoked

ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Evade US SanctionsMalta Financial Services Authority (MFSA) announced on Monday that the ECB has withdrawn the banking license of Pilatus Bank which has been operating in Malta for four years.

The Financial Times elaborated:

The move comes several months after U.S. authorities charged the bank’s Iranian-born owner and former chairman Seyed Ali Sadr Hasheminejad with organising a scheme to evade U.S. sanctions against Iran by illegally funnelling more than $115 million from Venezuela to Iranian-controlled companies.

ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Evade US Sanctions“The bank was charged in the United States over money laundering and bank fraud,” Reuters added.

Although Seyed Ali Sadr Hasheminejad pleaded not guilty and has been released on bail, MFSA removed him from his roles at the bank and froze the bank’s assets. In June, the regulator recommended revoking the bank’s license but faced numerous legal hurdles. On Monday, MFSA said that “the ECB had acted on its request to close the bank,” the Guardian wrote.

Pilatus Bank, which caters to wealthy clients, reported 308 million euros ($351.64 million) of assets in 2016, according to the bank’s annual report. Last year, it opened a branch in London after obtaining a U.K. banking license. The bank “was known to have held accounts for a senior official in the government of the Maltese prime minister, Joseph Muscat, and members of Azerbaijan’s ruling family,” the Financial Times detailed.

Murdered Journalist’s Case

ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Evade US Sanctions
Daphne Caruana Galizia.

Pilatus Bank had also been accused of “processing corrupt payments for senior Azeri and Maltese figures” by Maltese investigative journalist Daphne Caruana Galizia, Reuters described.

Caruana Galizia was killed by a car bomb in Malta a year ago. However, there has been no proven link between her murder and her story about the bank, the publication conveyed. Nonetheless, the event prompted the EU to begin investigating the bank in October last year.

“Three men suspected of killing her – brothers George and Alfred Degiorgio and their friend Vince Muscat – were arrested during a police operation in December 2017,” the BBC added.

Maltese Authorities Investigated

ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Evade US SanctionsThe ECB launched two investigations of how Malta dealt with Pilatus Bank last year, Reuters detailed. The first focused on MFSA but the case was closed in September “in part due to the vagueness of EU regulation,” European Banking Authority Chairman Andrea Enria told EU lawmakers.

The second investigation focused on the Maltese Financial Intelligence Analysis Unit (FIAU), the country’s anti-money laundering agency. Enria emphasized that this investigation has uncovered “serious shortcomings that the body did not remedy,” the publication noted. A senior EU official explained:

The European Commission reached preliminary agreement on Monday on new actions against the FIAU over its handling of the Pilatus case, which will force Malta to improve the way its anti-money laundering body operates.

Citing that U.S. authorities played a big role in uncovering alleged illicit banking activities in several European cases, the Guardian reported that “EU authorities want new powers to crack down on money laundering after a string of scandals in Estonia, Latvia and Malta.”

What do you think of the ECB shutting down Pilatus Bank? Let us know in the comments section below.


Images courtesy of Shutterstock, Lovin Malta, FIAU, MFSA, and Pilatus Bank.


Need to calculate your bitcoin holdings? Check our tools section.

The post ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Evade US Sanctions appeared first on Bitcoin News.

Go to Source
Author: Kevin Helms

Bitcoin Cash Price Analysis: BCH/USD Extending Gains Above $600

Key Points

  • Bitcoin cash price rallied above the key $600 resistance against the US Dollar.
  • There is a major bullish trend line formed with support at $580 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair may correct lower, but dips towards the $580 zone remain supported in the near term.

Bitcoin cash price is placed heavily in an uptrend above $550 against the US Dollar. BCH/USD traded as high as $629 before it started a downside correction.

Bitcoin Cash Price Analysis

Yesterday, we discussed about more gains above the $560 resistance in bitcoin cash price against the US Dollar. The BCH/USD pair started a fresh upward move and traded above the $580 and $600 resistance levels. A new monthly high was formed at $629 before the price started a downside correction. However, the price is still trading well above the $550 support and the 100 hourly simple moving average.

On the downside, an initial support is near the 23.6% Fib retracement level of the recent upside from the $541 low to $629 high. Moreover, there is a major bullish trend line formed with support at $580 on the hourly chart of the BCH/USD pair. The trend line support is near the 50% Fib retracement level of the recent upside from the $541 low to $629 high. Therefore, if the price declines from the current levels, it could find a strong support near the $580 zone. Below the stated zone, the price may revisit the key $550 support and the 100 hourly SMA.

Bitcoin Cash Price Analysis BCH Chart

Looking at the chart, BCH price is placed in an uptrend above the $550 support. Dips from the current levels remain supported near $580 and $575. On the upside, the price could test $650 if there is a break above $630.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is slowly moving in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is still above the 50 level.

Major Support Level – $580

Major Resistance Level – $630

The post Bitcoin Cash Price Analysis: BCH/USD Extending Gains Above $600 appeared first on NewsBTC.

Go to Source
Author: Aayush Jindal