Crypto News

How to Make the Best of Cryptocurrencies and the Innovative Blockchain Industry

The cryptocurrency and blockchain space has been gaining more popularity recently, even though the crypto market has been embraced by a bearish trend this year. Regardless of the prices’ fall, the companies behind the cryptos have continued to work on their projects, developments and important partnerships. More and more financial institutions teamed up with crypto and blockchain companies because everyone understands that instead of fighting innovation, it’s best just to ride this amazing wave of new tech and solutions.

Bitcoin was launched back in 2009, and by now, when 2018 is about to end, the crypto space has evolved significantly. Today, there are more than 2,000 cryptos on the market and, as expected, the number continues to grow. But in such rich scenery, it’s important to know a few things before making an investment, and usually, the decision can be quite challenging. However, we have a few tips that will definitely turn out useful for potential future investors in crypto.

Do your homework to avoid scams

Let’s say that you purchased one Bitcoin back in 2011 for $100. Now, you’re the lucky owner of a Bitcoin that’s valued today at $3,426.35, according to CoinMarketCap. Despite the recent fall of Bitcoin’s price, according to expert opinions, owning BTC is always a good choice. But you can also invest in other cryptos as well, just make sure to do your homework in order to be able to avoid scams and worthless tokens. You can start by checking out Trybe, a useful website which explores the most important cryptos and the opportunities that they have to offer.

Consider dip investment

Besides the traditional way of investing in crypto, you can also consider dip investment. This simply means buying cryptos at a low price and then selling them high. So, this strategy involves selling your crypto when the price reaches a peak. It all depends on your risk comfort. Experts usually recommend having a conservative strategy which consists in waiting to purchase a token until the price starts rising after a dip and only sell it when the price starts to go down again.

Become a part of the industry

This might be the lowest-risk choice of getting involved with crypto. There are lots of investment companies and startups as the crypto and blockchain industry continue to flourish. There are a lot of positions that you could consider hunting, and they include blockchain engineer/developer, community manager, content marketer, business developer, tech writer, and even a meme specialist.

Closing words

The crypto and blockchain wave is getting stronger and stronger, and the best thing you can do is find the best way to ride it. Investing in crypto is one of the best choices, but with one condition: always stay informed and set your goals and levels of risk.

Crypto News

Swiss Bankers Association (SBA) Issued New Guidelines For Crypto and Blockchain Technology Companies and Banks

According to Reuters, the Swiss Bankers Association (SBA) issued a guide recently for banks that want to do business with crypto-related companies to solve out issues regarding the access for firms related to cryptocurrencies into the Swiss banking sector. The guidelines were built with the support of the Crypto Valley Association (CVA), to maintain Switzerland as a center for businesses based on crypto and blockchain technology.

According to the press release, just a few of the 250 Swiss banks have agreed to receive funds raised through Initial Coin Offerings (ICOs), while Switzerland’s fourth-largest bank, Zuercher Kantonalbank (ZKB), closed the accounts of more than 20 crypto startups so far this year.

CVA Director Oliver Bussmann said that about 530 startups related to crypto and blockchain technology had been established in the Swiss Crypto Valley, in Zurich and Zug. These companies need access to banking services to make their operations viable. However, the banks claim that, by signing contracts with these companies, they could violate their anti-money laundering (AML) rules as well as other regulations. Bank sources argue that some of the startups that carried out ICO did not adopt the necessary controls to their investors.

The Swiss Bankers Association (SBA) new guidelines make a difference between ICO-financed blockchain technology companies and those crypto-related firms finance with fiat money

“We believe that, with these guidelines, we will be able to establish a basis for discussion between banks and innovative startups, simplifying dialogue and facilitating the opening of accounts,” said Adrian Schatzmann, the Strategic Advisor at the Swiss Bankers Association (SBA).

Both the SBA and the CVA are confident that the new rules will create clarity for banks about the assessments they must make, and for crypto and blockchain technology companies about the information they must provide when opening a bank account. In this sense, the guide distinguishes between companies based on distributed ledger technology (DLT) that raise capital through ICOs and those that do not use this mode to raise funds.

The new guidelines also make a distinction between companies that are financed with cryptocurrencies, usually Bitcoin (BTC) or Ethereum (ETH) and those that are funded through fiat money. According to the text, blockchain technology-based companies that do not receive financing through ICOs should be treated under the same parameters as any other commercial company.

Startups that use ICOs, on the other hand, should adhere to particular criteria depending on whether the financing is through fiat currency or if it is through cryptocurrencies.

Crypto Markets News

Revolut Launched Revolut Metal Card With Cashback In Cryptocurrency And Fiat Money

Revolut has launched a contactless metal card with cashback in cryptocurrencies for frequent travelers looking for something “beyond the currency exchange.” The card, called “Revolut Metal,” will have a unique design and three times the weight of a regular card. It will offer its users a cash refund of 1% of each transaction carried out outside Europe and 0.1% of each transaction conducted in Europe, with the possibility of receiving the rebate in any of the 25 fiat currencies supported by Revolut or in the five cryptocurrencies, including Bitcoin (BTC).

Customers will also be able to withdraw three times as much cash from any international ATM as a standard user and will have a personal concierge service at their disposal with which to make reservations, from a table in a restaurant to a concert ticket. People who subscribe to this plan will also benefit from real exchange rate currency exchanges and free unlimited international money transfers, 24-hour priority customer service every day, and travel insurance abroad covering medical, dental, flight and lost luggage expenses.

Revolut launched its Revolut Metal card with cashback in fiat money and cryptocurrencies, including Bitcoin (BTC)

Revolut has assured that it will extend the package of this new Revolut Metal plan with exclusive benefits such as reduced rates to international airport lounges, family accounts, unlimited disposable virtual cards, and additional incentives for the commission-free trading platform that the company plans to launch in the upcoming months.

Nik Storonsky, founder and CEO of the Revolut FinTech, has said that he is convinced that the new Revolut Metal card will be “the exclusive card of the future and an absolute necessity for travelers from all over the world.” He also indicated that the launch of Revolut Metal is “an important step” for the company to generate additional revenue, given its desire to expand its business to North America and Asia this year.

Crypto Markets News

Goldman Sachs Considers Cryptocurrency Custody Funds

The investment bank Goldman Sachs is considering starting to hold funds in cryptocurrencies as part of a commercial strategy, even though it remains skeptical of the cryptos market.

Goldman Sachs considers providing cryptocurrencies investments

Goldman Sachs is deliberating on the possibility of becoming the first investment bank on Wall Street to grant custody of its clients’ crypto assets, according to related sources. This financial company, which does not have a favorable view regarding Bitcoin (BTC) futures on the short-term, seems to be taking a new direction in its strategy of incursion into the crypto-verse.

Bloomberg’s anonymous sources assured that the execution of the plan would imply the protection of his clients’ crypto coins against “dishonest attacks,” as an alternative to reduce the risks linked to the ecosystem, such as frequent hacking. At the moment, the strategy is not official, as Goldman Sachs spokespersons have not made a statement on it.

If it does occur, the support of cryptos funds by a regulated institution such as Goldman Sachs may symbolize legal support for the disruptive proposal of crypto-economy, making it an object of interest to other individual and institutional investors as well as to listed investment funds.

However, Goldman Sachs’ position on cryptos is not very clear

In the latest report published by the financial firm, Goldman Sachs’ chief investment officer said that Bitcoin (BTC) “craze” is “one of the six factors that will create unrest in the markets during the remainder of 2018”, as “Bitcoin (BTC) will not maintain its value”, in his opinion.

In contrast to the report, which also states that cryptos “do not fulfill any of the three traditional functions of a coin,” they appointed Justin Schmidt as vice president and leader of the Digital Asset Market area last April. The inclusion of Schmidt came along with the evaluation of the opening of a cryptocurrencies trading desk.

Goldman Sachs’ new possible incursion into crypto-economy has been an open door for many months and with different projects. However, these may not yet materialize.

Crypto News

Turkey Established The Country’s First University Center For Blockchain And Cryptocurrencies Education

The Daily Sabah newspaper reported on August 3rd that Turkey had established the country’s first university center for blockchain research, with the objective of guaranteeing the widespread development of technology and filling the gap with other countries.

Turkey to establish the country’s first university center for blockchain research

The Istanbul Blockchain and Innovation Center, also known as BlockchainIST, was inaugurated at Bahcesehir University (BAU).

The BlockchainIST is destined to be “the most important research, development, and innovation center in Turkey where studies and publications on blockchain technologies are carried out,” says Director Bora Erdamar.

Erdamar said that Turkey might be the leading country in the blockchain technology that “will transform humanity.”

It emphasized the importance of collaborating with other educational institutions, businesses and government bodies in order to undertake appropriate research and examine all potential uses.

A few universities around the world already run blockchain educational programmes

A few universities in the world have already launched a number of courses on cryptocurrencies, blockchains, and smart contracts.

This year, Stanford University has established a blockchain research center, partially funded by the Ethereum Foundation, and Brazil’s renowned “Fundação Getúlio Vargas University” has started delivering the country’s first master’s degree in the crypto market.

Ripple has also given away $50 million to some universities worldwide to fund educational programmes related to blockchain and cryptocurrencies.

Turkish official’s position on cryptocurrencies is not yet clear

Even though the Director of BlockchainIST pointed out that Turkey is currently struggling to keep up with the world in digital transition, the stance of the Turkish authorities on the cryptocurrency industry is not entirely straightforward.

In November, the country’s government demonstrated its opposition to Bitcoin (BTC) when the State Department of Religious Affairs’ lawmakers stated that the BTC “is not compatible” with Islam.

But in February, the Vice-Chairman of the Nationalist Party of the Turkish movement not only suggested regulations for the cryptocurrencies market but also raised the problem of a theoretical Turkish government-owned cryptocurrency, the Turkcoin.

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