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A Debit Card for Your Coin with Folgory

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An important event as occurred in not just the crypto world, but the entire financial market as news reports emerge of an agreement between Hashfort and Codego. According to Hashfort’s announcement, the company has acquired Codego to improve its value proposition and expand its presence in the payment value chain, including fiat as well as e-money.

While Hashfort is one of the prominent names in the crypto sector with brands like Folgory and WLNE, Codego specializes in software platforms for Core Banking in combination with BaaS (Bank as a Service). The incorporation of Codego into the Hashfort world has made it possible to reorganize the offerings from both companies resulting in exceptional value addition for their users. Moving forward, Hashfort will focus more on offering services while Codego will continue providing software platforms to the financial world, especially cryptocurrency exchanges.

At the same time, one of the most plausible and expected improvements in the market offering from this operation is the enrichment of Folgory’s portfolio. The results of such improvements are already visible as Folgory has started offering its customers the opportunity to take advantage of a full range of banking services, including multi-currency accounts and debit cards.

The possibility of cryptocurrencies offering debit cards for users has been a pressing need for crypto projects and exchange owners for a long time, and it is precisely for this reason that the expectations are high at this point. There are already numerous big players who have expressed concrete interest in the new card following early market rumors and speculations about the possibilities arising from Hashfort’s acquisition of Codego.

Now confirmed, the crypto debit card will be issued in combination with the services of Folgory and it can be requested by an end customer already conducting transactions with coins listed on the Folgory platform. Initially, the cards may offer two levels of customization that includes

  1. a co-branded card for any » Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin listed on Folgory issued by the platform, upon request from such » Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin.

  • a fully customized card issued by the » Read more

  • ” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin itself, complete with its own logo and tailored design.

    As an additional feature, the » Read more

    ” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin will be able to integrate its card with any white label solution developed by Codego.

    Making the news even more juicy is the pricing. The set-up cost for the operation for a new » Read more

    ” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin starts from GBP 2000 (GBP 4000 for the fully customized version), with a cost per card of GBP 3.5. At this pricing, it is evident that the access cost for the » Read more

    ” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin is extremely low. Each end-user will pay EUR 20 (GBP 17.79) to avail the card, and Folgory will share revenues with the » Read more

    ” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin, in the form of cashback for each issued card.

    The new deal is designed to be a simple and immensely powerful business model at the same time. Cryptocurrency projects can now start placing pre-orders for as few as 2000 cards. In the coming days, one can expect these cards to hit the market, offering added convenience to the crypto community when it comes to spending their assets.

    Source: https://www.newsbtc.com/sponsored/a-debit-card-for-your-coin-with-folgory/

    Blockchain

    Here’s how Bitcoin’s intraday volatility complicates leverage trading

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    The crypto sector is in a bull market, and frequent evidence comes from anonymous traders who post their five-, six- and seven-figure investment returns as screenshots on Crypto Twitter.

    This condition creates a FOMO-like situation where everyone gets greedy. The temptation to boost potential earnings by twenty times or more is often irresistible for most novice traders.

    Today, almost every cryptocurrency exchange offers leveraged trading using derivatives. To enter these markets, a trader has to first deposit collateral (margin), which is usually a stablecoin or Bitcoin (BTC). However, unlike spot (regular) trading, the trader cannot withdraw from a futures market position until it has been closed.

    These instruments have benefits and can improve a trader’s outcomes. However, those who often rely on incorrect information when trading futures contracts end up with heavy losses rather than profits.

    The basics of derivatives

    These leveraged futures contracts are synthetic, and it is even possible to short or place a bet on the downside. Leverage is the most appealing aspect of futures contracts, but it is worth noting that these instruments have long been used in stock markets, commodities, indexes, and foreign exchange (FX).

    In traditional finance, traders measure daily price change by calculating the average closing price changes. This measure is widely used in every asset class, and it’s called volatility. However, for various reasons, this metric isn’t helpful for cryptocurrencies and can harm leverage traders.

    Bitcoin 60-day USD volatility. Source: BuyBitcoinWorldwide

    To be brief, the higher the volatility, the more often an asset price presents wild oscillations. Contrary to the expectation, moving up by 7% to 10% every day represents a low volatility indicator. This happens because the deviation from the mean is small, while random fluctuations between a negative 3% to a positive 3% present a much wider range.

    Markets with very low volatility are perfect for leverage

    Knowing the general range of how an asset oscillates is extremely important when opening leverage positions. Take the British Pound Sterling (GBP), for example, and one will notice that its volatility is usually below 1% as surprise aggressive daily price changes are unusual.

    GBP currency 60-day USD volatility. Source: BuyBitcoinWorldwide

    FX markets are relatively stable markets when compared with stocks and commodities. Therefore, some regulated brokers offer even 200x leverage, meaning a 0.5% move against the position would cause a forced liquidation.

    For a cryptocurrency trader, the Swiss Franc’s (CHF) daily change versus the U.S. dollar would likely be seen as a stablecoin.

    Swiss Franc (CHF) USD prices. Source: Investing.com

    However, the 3.4% daily Bitcoin volatility hides a more dangerous price fluctuation. While measuring daily closing prices for traditional markets makes sense, cryptocurrencies trade non-stop. This difference potentially creates much wider movements within the same day, although the daily closing often masquerades it.

    Bitcoin price low-high-close USD prices. Source: CoinMarketCap

    The average change between the Bitcoin intraday high and low of the past 180 days is 6.5%. As shown above, these ‘intraday moves’ surpassed 10% on 25 occasions. Meaning, in reality, BTC price oscillations are much larger than expected for a 3.2% daily volatility asset.

    20x leverage seems crazy considering Bitcoin’s daily moves

    To put things into perspective, a 5% move in the wrong direction is enough to liquidate any 20x leveraged Bitcoin position. This data is clear evidence that traders should really consider risk and volatility when leverage-trading cryptocurrencies.

    Fast profits are nice, but what is more important is being able to survive the usual daily price swings to hold on to those unrealized gains.

    Although there’s not a magical number to set the best leverage for every trader, one must account for the effect of volatility when calculating liquidation risks. Those aiming to keep positions open for more than a couple of days, aiming for 15x or lower leverage, seem to be ‘reasonable.’

    The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

    Here’s how Bitcoin’s intraday volatility complicates leverage trading

    Source

    Coinsmart. Beste Bitcoin-Börse in Europa
    Source: https://blockchainconsultants.io/heres-how-bitcoins-intraday-volatility-complicates-leverage-trading/?utm_source=rss&utm_medium=rss&utm_campaign=heres-how-bitcoins-intraday-volatility-complicates-leverage-trading

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    Blockchain

    YFI, VeChain, Litecoin Price Analysis: 16 May

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    YFI’s technicals suggested that the cryptocurrency possessed bullish strength to sustain its rally. VeChain was projected to move sideways within a fixed channel. Lastly, Litecoin traded within $330-$300 – an area that needed to be defended against bearish pressure.

    YFI

    Source: YFI/USD, TradingView

    Year-to-date gains of 210% may be modest when compared to some other alts in the market, but a rise above $55,000 indicated bullish progress for YFI– one that could see sharper gains over the coming months. A breakout above $55,000 had already fueled a 50% jump in value to above $83,000, but a broader market pullback complicated matters. Unable to fully take advantage of its rally, YFI noted choppy movement over the past few days.

    Healthy volumes and buying pressure have allowed the price to trade above $63,000-65,000 support. OBV’s uptrend attested to buying activity in the market. Awesome Oscillator’s green bars also conformed with OBV’s stance. There was some resistance around $83,000 and a break above this could see another price swing. Conversely, a breakdown could see losses towards $48,000 or $43,000.

    VeChain [VET]

    Source: VET/USD, TradingView

    An ADX reading of 20 showed a weak directional market as VeChain traded between $0.203 and $0.1666. Low volatility was also evident from the constricted nature of Bollinger Bands. Considering its technicals, VET would likely continue to see some rangebound movement over the coming days.

    A rise above $0.203 could spur some additional buying but gains would likely be capped at $0.254-resistance.Having said that, a breakout from $0.254 could see a shift of market dynamics towards the bullish side and volumes must be observed for such an outcome.

    Litecoin [LTC]

    Source: LTC/USD, TradingView

    On the daily chart, Litecoin traded within a buy zone of $330-$300. The current area needed to be defended from a sell-off towards the 50-SMA (not shown) around $266. While the 4-hour chart did register a series of bullish candlesticks, bearish sentiment still prevailed on the daily timeframe.

    The Squeeze Momentum Indicator highlighted bearish momentum and a dip below half-line would present a sell signal. This would also lead to a breakdown towards the 50-SMA. RSI floated around neutral-50 but did point north at the time of writing. If the present buy area is retained, a comeback above $330 would become a possibility, however, broader market cues would likely dictate LTC’s trajectory.


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    Coinsmart. Beste Bitcoin-Börse in Europa
    Source: https://ambcrypto.com/yfi-vechain-litecoin-price-analysis-16-may

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    Blockchain

    U.S. City to accept crypto payment for utility bills

    TL;DR Breakdown Williston to accept crypto payment for utility bills. More tech adoption to be recorded by Williston. Williston, a city in North Dakota, USA, has announced plans to begin accepting crypto payment for utility bills from residents. It becomes the first city in North Dakota to adopt crypto payment. Hercules Cummings, Williston City Finance […]

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    TL;DR Breakdown

    • Williston to accept crypto payment for utility bills.
    • More tech adoption to be recorded by Williston.

    Williston, a city in North Dakota, USA, has announced plans to begin accepting crypto payment for utility bills from residents. It becomes the first city in North Dakota to adopt crypto payment.

    Hercules Cummings, Williston City Finance director, said they have partnered with BitPay, one of the largest crypto payment service providers in the U.S., to help them convert the coins from crypto to fiat in real-time.

    Crypto payment steps for Williston

    Firstly, the city council said it would monitor how residents respond to crypto payments as only utility bills are going to be paid with crypto.

    The city said if residents respond positively to making payment for utility bills with crypto, it would be expanded. They would begin accepting crypto payment for landfills, permits, and licenses.

    Residents who intend to pay utility bills are to visit website of the city of Williston, enter their account information to receive an emailed BitPay invoice, and choose their digital wallet and the crypto in which they want to pay.

    Rebate citizens can enjoy using crypto to pay utility bills is reduced commission as Exchanges only charge 1 percent for every transaction, unlike other payment services, which can charge up to 3 per cent.

    How North Dakota keeps embracing new tech

    The city finance director said that his city is only responding to a growing trend and technological changes.

    He revealed that crypto represents an innovation for the city’s finance department and a significant step to take the lead in the state and nationwide. Cummings also said that it is just one out of many things that will be rolling out of the finance department.

    Williston is the third government entity in the U.S. to embrace cryptocurrencies as adoption takes a fast pace in the country. Wyoming is one of those states, which registered Ripple as an entity and has several crypto-friendly laws.

    Coinsmart. Beste Bitcoin-Börse in Europa
    Source: https://www.cryptopolitan.com/u-s-city-to-begin-accepting-crypto-payment/

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