May 2018 update – Bitcoin.de continues to be a reliable peer to peer bitcoin exchange, and since this article has been written has expanded to cover bitcoin cash, bitcoin gold and ethereum in addition to bitcoin. Our experience selling bitcoins on the Bitcoin.de Exchange (originally published March 2015) Please note: This review is based on selling a relatively small amount of bitcoin into euro. The stats outlined in this review may not apply to larger traders. This review is part of our series of bitcoin exchanges. So as we’ve been generating some bitcoin for the last few weeks as a result of our
May 2018 update – Bitcoin.de continues to be a reliable peer to peer bitcoin exchange, and since this article has been written has expanded to cover bitcoin cash, bitcoin gold and ethereum in addition to bitcoin.
Our experience selling bitcoins on the Bitcoin.de Exchange (originally published March 2015)
Please note: This review is based on selling a relatively small amount of bitcoin into euro. The stats outlined in this review may not apply to larger traders. This review is part of our series of bitcoin exchanges.
So as we’ve been generating some bitcoin for the last few weeks as a result of our time spent on our mining pool reviews, we’ve reviewed a couple of places that use bitcoin. However, we wanted to turn our bitcoin into real money, and began by looking at different exchanges we could use. I came across bitcoin.de while I was looking for a European exchange, and as they’re in Germany (which has lots of rules) we thought we’d give them a go to see how their exchange works.
So to begin with, Bitcoin.de isn’t an exchange in the traditional sense. Instead it’s a mix of a peer to peer marketplace backed by their escrow service. Registering is relatively straightforward, and they enforce a two-stage login, and then further recommend using 2FA to secure your account. Once registered, you then need to verify your details with them by sending on various pieces of identification. I was rather hesitant about this after supplying details to Mt. Gox just before it tanked, and after looking at various exchanges I settled on a German one because they’re within the EU, and there are contact details on the website including a phone number that’s actually answered.
The exchange works by allowing you to lodge funds to your account, and then matching you with a corresponding seller. I originally lodged a relatively small amount, about 0.04 BTC, but the system requires that you work from a minimum of 0.1 BTC. So in total between two lodgements, I placed 0.18400951 on my account. I then put the bitcoin up for sale, in my case picking a price of €305. Within a couple of minutes, I received an email alert saying that my bitcoins had been sold, and that the counterparty was wiring the funds to the bank details I had on file. Sure enough, within 24 hours, I could see the lodgement arrive in my bank account, and then I logged back into the system to confirm receipt of the funds, which deducted them from my balance and sent them on.
The site operates through their own escrow service, and a marketplace fee of 1% is charged, split evenly between the buyer and seller in a very clear way. When I was putting the sale through, it deducted 0.005% in the bitcoin value, with the balance payable by the buyer. Before sending the bitcoins on, the exchange then deducts another 0.005% from the buyer. Both parties can then rate the other member, just like the ebay feedback system.
I was pretty impressed with the exchange, as while I’ve traded bitcoin into fiat and back on the likes of BTC-E, their high lodgement and payout requirements meant I wasn’t able to sell due to high charges or minimum fees. However, being able to make sales on amounts over 0.1 btc was very handy. Lodging money on the account took about six network verifications, and once it was on, I could pick my price. I was really happy that my first experience selling was so positive, as I got 99.5% of the value of my euro lodged by SEPA into my account within a very short timeframe. So the exchange works very well, and I’m happy to recommend Bitcoin.de to people looking for an exchange in Europe that can wire funds straight to their bank account.
Update: 17th March 2015 – We have done a number of trades this month on bitcoins.de that were settled in the same day. Trades that went through before about 11am and which were quickly acted on by the other party were received in four cases before 6pm the same day. Alternatively, you can visit our Buy Bitcoin page to get bitcoin right now.
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Coinbase has had an exciting week. After forming a partnership with Facebook to provide support and custody services for its new Novi wallet, the popular digital currency exchange is joining hands with the National Basketball Association (NBA), which some believe will make it possible to pay for merchandise and event tickets with crypto in the coming future.
Coinbase Has Joined Hands with the NBA
The sports association issued a press release claiming that Coinbase will now be the official crypto platforms for several basketball divisions including the Women’s National Basketball Association (WNBA), the NBA G League, and USA Basketball. The release explains:
The deal, which marks the first cryptocurrency platform partnership for each league, will consist of unique content, innovations, activations and experiences from Coinbase to educate fans on the increasing advancements happening across the crypto economy.
Kate Rouch – the chief marketing officer at Coinbase – said that she was excited to be part of the new program. In an interview, she explained:
As part of the partnership, we will create interactive experiences to engage with the NBA and WNBA’s incredible community and athletes around the world.
Kerry Tatlock – the senior vice president of global marketing partnerships and media for the NBA – also put her two cents in, claiming that Coinbase was a perfect fit for the organization. Tatlock said:
We look forward to collaborating with Coinbase to provide fans with new ways to engage with the league and each other, while also enhancing the experience for fans who are already Coinbase users.
As it stands, only two NBA teams accept crypto payments for both tickets and merchandise, one of which is the Sacramento Kings. They were the first team to say “yes” to bitcoin and crypto, having done so in the year 2014. In April of 2021, team managers announced that they would pay all basketball players in bitcoin if they were interested in such an option.
Chairman for the Kings Vivek Ranadive mentioned:
I’m going to offer everyone in the Kings organization… as much of their salary in bitcoin as they want.
Following the Kings, the Dallas Mavericks – which is co-owned by billionaire investor and “Shark Tank” star Mark Cuban – began accepting crypto payments in 2019. Cuban explained that while he, himself, was not a big bitcoin fan at the time, he realized that there was an audience for crypto payments, and thus he was excited to bring new options to the table. He stated:
The Mavericks have decided to accept Dogecoin as payment for Mavs tickets and merchandise for one very important, earth-shattering reason. Because we can! Because we can, we have chosen to do so.
The Mavericks Are Patrons of Dogecoin
Cuban later mentioned in a series of tweets that the Dallas Mavericks were becoming the biggest Dogecoin merchants on the planet. He said:
The @dallasmavs have done more than 20,000 #Dogecoin in transactions.
NEAR token’s latest price rally comes in the wake of NEAR Protocol’s announcement of raising $800 million developer fund.
Brief Market Analysis of NEAR Token
NEAR token price rallied higher on Oct. 25 following NEAR Protocol announcing that it has earmarked $800 million for new funding initiatives aimed at growing its decentralized finance capabilities.
Notably, the price of NEAR token increased by more than 30% to over $12 a token, the highest level since Sept. 9. Combined with the gains recorded in the previous 96 hours, NEAR was up by nearly 39%.
At the time of writing, the price of the NEAR coin is $12.14 USD with a 24-hour trading volume of $810,943,857 USD. NEAR Protocol however, is up 30.41% in the last 24 hours. According to CoinMarketCap, market cap is at $6,389,142,571 USD, and having a circulating supply of 526,072,613 NEAR coins and a max. supply of 1,000,000,000 NEAR coins.
What the $800 Million Funding Means For DeFi
As at Monday October 25, there was a total value of $247 billion locked across all decentralized finance DeFi projects, and NEAR just like many others, are moving to capitalize.
The smart contract ecosystem NEAR Protocol, having earmarked $800 million for new funding initiatives is looking to grow its decentralized finance capabilities.
The new funding includes in part, a $350 million grants program that was announced by Proximity Labs a week ago. This part will give developers the extra motivation and support they’ll be needing to create new product offerings on NEAR, announced the company.
Another $250 million will be allocated to existing ecosystem developers, another $100 million for startup grants, which NEAR is reportedly planning to fund about 20 startups at the rate of $5 million each. Lastly, the remaining $100 million will be pumped into regions across Europe, Asia and the United States.
Implication for NEAR Token
Over the past year, value locked in DeFi protocols has seen a 936% surge. And now, Ethereum’s main competitors like Solana, Binance Smart Chain, and Avalanche presently seeing considerable imcreases, according to data from DappRadar. However, Ethereum-based projects account for about 66% of the entire value locked across DeFi, according to industry data.
Now, despite the unarguable dominance of Ethereum in the DeFi space, the market keeps growing at an unimaginable rate, currently valued at over $247 billion. This reality undoubtedly gives enough room for other competing platforms to take advantage of.
Although NEAR represents only a small portion of the total DeFi market, but that might just change soon enough. There’ll definitely be many more developers hoping to tap into the new funding campaigns, even as users continue looking for alternatives to Ethereum-based protocols.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Solana’s SOL sets a new all-time high after its 36% weekly rise as it seems that the coin is in full swing after the downturn in September so let’s read more in today’s altcoin news.
Solana’s SOL sets a new all-time high at $219 today and last month’s network outage slowed down Solana’s momentum after the huge price increase in August but that seems to be no issue for the token. The late summer surge was interrupted by September’s network outage that seemed to slow the smart contract platform’s momentum on the upside but the overall market being on the rise only sparked Solana to rise rapidly again and set a new peak price.
The SOL cryptocurrency reached a new all-time high above $219 which is a step up from the peak at $213 and while many see this as a modest uptick from the previous high, it suggests that Solana’s price increase is back in action after the recent downturn. SOL’s price is up about 36% in one week and increased by 57% in the past 30 days. SOL’s market cap flipped that of XRP to become the sixth biggest crypto on the market. The wider crypto market has been on the rise with BTC setting a new ATH of $67,277 last week with ETH setting its own peak of $4361 as per CoinGecko.
According to the site, the total crypto market cap is now $2.75 trillion which is close to teh ATH of $2.77 billion. Solana’s ecosystem activity sped up over the past three months and Decentralized finance protocols on the platform that allows for person-to-person borrowing, trading and lending grew as of late with more than $13.9 billion worth of assets being locked in the defi protocols per the data from DefiLlama. NFT activity on Solana picked up as of late with an estimated market cap of $910 million per Solanalysis and more than $64 million of trading volume in the past week.
NFTs are tokens that function as a proof of ownership receipt over digital items on the blockchain and the market saw a high profile entity as FT US launched its own marketplace focused on Solana’s NFT. Its stance on not listing NFT collections that provide royalties from the secondary sales to other holders had a ripple effect in the space as a few projects canceled or changed plans to provide ongoing crypto rewards to the NFT holders. Solana saw an increase in value in August and September as it increased from a price of $35 to a high of $213 with the network being down for more than 17 hours due to what the foundation billed as a denial of service attack.
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