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Coinsbit Exchange launches Global Marketplace and burns 10% of CNB tokens

Over the past few months, the team of the Coinsbit cryptocurrency exchange regularly published information about the marketplace for buying goods from world-famous trading platforms, such as Amazon, A

The post Coinsbit Exchange launches Global Marketplace and burns 10% of CNB tokens appeared first on AMBCrypto.

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Over the past few months, the team of the Coinsbit cryptocurrency exchange regularly published information about the marketplace for buying goods from world-famous trading platforms, such as Amazon, Alibaba, eBay, Aliexpress and others with cryptocurrency. More recently, information on the launch of the global Coinsbit Store, scheduled for March 31, 2020, has appeared in the official social channels of the Coinsbit ecosystem.

As the exchange team informed, each Coinsbit user will be able to choose any of the available products on the platform and pay for it from anywhere in the world with stablecoins USDT, USDN, PLC, as well as with the CNB exchange token, which is stored on the user’s exchange balance. A list of cryptocurrencies available for payment for goods will expand as the marketplace develops.

The main objective of the Store is to provide the crypto community with the opportunity to buy goods from world platforms with cryptocurrency, expanding the range of available goods or services by engaging new partners – both international and local. This solution will allow everyone to buy goods, for example, from eBay or Aliexpress in one click, without leaving the exchange, and using cryptocurrencies available on the user’s balance. The crypto community will no longer need to change their crypto assets to fiat funds and withdraw them to bank cards, as well as register on all these trading platforms – everything is available on one platform, and all purchases are made in “one-click”.

This solves many problems and gives new opportunities for the use of cryptocurrency. The Coinsbit cryptocurrency exchange team is always striving to create a unique ecosystem for the crypto community, so that users receive new and convenient tools for work, and also develops new vectors for implementing cryptocurrency as a payment instrument. Coinsbit Store is a vivid example because it is an unprecedented case, such solutions and products have not yet been implemented in the crypto industry.

To develop its Store, the Coinsbit team conducted an IEO, at which developers provided everyone with the opportunity to buy a new CMT token at a price of 0.0000001 BTC. The unique feature of this token consists in the opportunity to receive special discounts from affiliate platforms and getting access to promotional products that will be available only for token holders.

It is noteworthy that a few days after the IEO and the opening of trading on the token, the cost of CMT increased by 280%, which indicates the huge interest of the community in the new universal trading platform. The ability to buy goods in world-class online stores for the cryptocurrency is a truly historic moment for the entire industry, the importance of which cannot be overestimated.

The Coinsbit team also carried out a planned burning of the CNB exchange token for the first quarter of 2020. On March 30, 10% of the existing supply on the market was burned – 150 million tokens (total issue – 1.5 billion CNB). This is the number of tokens received by the exchange as a “disposal” for the services provided by the exchange – trading commissions (users can pay up to 50% of such commissions with CNB tokens), as well as other services and offers from Coinsbit, which can also be paid with CNB tokens.

This is great news not only for the exchange traders but also for the entire crypto community, since the burning of tokens in such quantity (for the first reporting period) has never occurred in the history of exchange tokens. For example: for the first reporting period, the Binance team burned less than 1% of the sold issue of its BNB token. Among other things, this is great news for CNB token holders, as the total issue of the token will become 10% less, which will affect the existing supply and increase the demand for the coin. Due to the rise in the token price, the commissions paid with CNB will become equivalently less. Recall that all users of the exchange received all CNB tokens for free by AirDrop.

The immediate plans of the developers are to conduct another IEO to raise funds for the development of Coinsbit’s OTC platform, which will work on the basis of B2P and will be launched in April this year. The platform team aims to connect 55 fiat currencies by the end of 2020, by attracting one exclusive local partner in each region to work with one fiat pair. All partners will be accredited and will perform all necessary verification procedures for the stable and safe operation of OTC Coinsbit. Users will be able to buy cryptocurrency on the OTC platform and get it on the exchange balance. Also, users will be able to sell cryptocurrency from their balance and receive fiat funds to a bank card in local currency. Transactions will be carried out according to the “escrow” principle, which will provide users with security and guarantee them the receipt of cryptocurrency or fiat money.

The platform team released Coinsbit OTC Token (ticker – OTC) to conduct the IEO. This token can be bought during the IEO at a price of 0.0000001 BTC. A total of 560 million OTC tokens will be issued. The token will enable users to save 15%, 25% or 50% on commissions when buying or selling cryptocurrency on the OTC platform. IEO will be held on April 3, 2020, at 11:00 GMT.

Disclaimer: This a paid post, and should not be treated as news/advice

Source: https://ambcrypto.com/coinsbit-exchange-launches-global-marketplace-and-burns-10-of-cnb-tokens

Blockchain

Increasing Stability of the Utopia P2P Network

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The number of full nodes in the Utopia P2P ecosystem has passed the 30,000 mark.
This means that more than 30,000 nodes are working for the security and resilience of the network.

Stability

The number of full nodes within the Utopia decentralized ecosystem has reached 30,000 and is moving forward. This number is an indicator of the stability of internal processes and a guarantor of reliability.

Nodes in the blockchain have one of the most important roles – they are responsible for checking the legitimacy of blocks, approving transactions, and ensuring the smooth operation of the network. To a large extent, this responsibility falls squarely on the full nodes. In other words, the more nodes involved in supporting the network, the harder it is to trick, hack or crash the system. As a consequence, better connection quality, safer operations, cleaner and more honest mining.

When you install and run Utopia ecosystem mining bot, you automatically increase the number of nodes, thereby contributing to the stability of the network. Everyone involved in this process receives Crypton Cryptocurrency (CRP).

Benefits

Crypton is the unique currency of the Utopia peer-to-peer network. Coin mining does not burden your PC and is eco-friendly as it is done through an ecosystem. All you need to mine is a computer and a bot installed.

By launching the app, you start receiving collective rewards every 15 minutes – that’s how long it takes to form a new block. Users also receive a Proof of Stake reward to their minimum monthly balance. CRP is already listed on a number of exchanges and is available for sale.

– Anyone can mine, send and receive Cryptons. Cryptocurrency mining is available to all Utopia ecosystem users. CRPs are provided for being on the network and. Mining participants are rewarded for supporting the ecosystem – forwarding packets and providing RAM for caching purposes,” according to 1984 Group, the developer of the Utopia P2P network.

At the time of writing, 4,672,181.975674 CRPs have already been mined by Utopia network users, with the total number of transactions steadily approaching 300,000.

Security

The creators of Utopia Network have built an independent ecosystem, which doesn’t ask for your personal information even when you register and doesn’t track your activities or geolocation.

The server is basically not involved in data transfer and storage. The Curve25519, XSalsa20, and Poly1305 algorithms are used to encrypt, sign, and authenticate packets, objects, and peer-to-peer connections.

This way, you don’t have to worry about the security of your personal data and are free to use the Utopia ecosystem. In addition to in-network mining there are anonymous messenger, browser, email, and e-wallet. All functionality is focused on user anonymity and is available to all registered in the Utopia P2P decentralized network.

As far as we know, in the near future the developers will release an encrypted anonymous Utopia ecosystem app on IOs and Android.

Download Utopia: https://u.is/en/download.html
Website: https://u.is/
Crypton Exchange: https://crp.is/


Click here for Free Trial.
Source: https://www.livebitcoinnews.com/increasing-stability-of-the-utopia-p2p-network/>

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Blockchain

Investors must brace themselves as Bitcoin Cash goes downhill in the coming weeks

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Though off to a strong start in September, Bitcoin Cash seemed to have taken its foot off the pedal. Caught between two corrective phases on 7 and 20 September, the price steadily declined after forming a local peak above $800.

Moreover, BCH’s latest drawdown towards 38.2% Fibonacci level identified vulnerabilities in the market which could extend all the way back to July lows. With sentiment also expected to be sour due to a recent death cross, BCH bulls certainly faced a tall mountain to climb. At the time of writing, BCH traded at $549.2, down by 4.8% over the last 24 hours.

BCH Daily Chart

Source: BCH/USD, TradingView

A near 16% decline from the 50% Fibonacci level pushed BCH to the all important 38.2% Fibonacci level. Back in late-June, BCH suffered a 31% sell-off after it pierced below the aforementioned level on the back of a descending triangle. Hence, to dissuade short-sellers from the market, BCH would need to keep its neck above the $540-mark.

However, certain factors in the market could not be overlooked. For instance, each of BCH’s indicators slipped below their equilibrium points for the first time in nearly 2-months, while a negative crossover between the 20-SMA (red) and 200-SMA (green) created some more uncertainties.

Reasoning 

Even though corrective phases have been overserved previously in the market, BCH’s RSI held above it mid-line. This was not the case anymore after the RSI shifted below 45 and into bearish territory. In fact, the RSI was yet to touch the oversold territory, which meant that BCH could see some more losses rather than an immediate reversal. Such was the case with the MACD and Awesome Oscillator as well, which slipped below their equilibrium levels. If sentiment continues to be weak, the 23.6% Fibonacci level and $400 would come back into play.

Conclusion 

Bitcoin Cash’s long term narrative took quite a hit after prices declined below the 50% Fibonacci mark. In fact, this also negated a bullish setup which was highlighted in an earlier article. BCH’s indicators also fell into bearish zones  after this retracement. Considering these factors, BCH was open to a further sell-off towards the $400-mark in the coming weeks.

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Source: https://ambcrypto.com/investors-must-brace-themselves-as-bitcoin-cash-goes-downhill-in-the-coming-weeks

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Blockchain

Indian government cautious about crypto-adoption, CBDC is a possibility

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Indian traders and exchanges might be bullish about the crypto market, but the Indian  government doesn’t seem keen on rushing into the scene. At least, not until studying its homegrown fintech industry and the anti-Bitcoin protests in El Salvador.

Tracking global news

Indian finance minister Nirmala Sitharaman in a recent interview with Hindustan Times explained why the country seemed to be falling behind when it came to crypto adoption.

Though she admitted, El Salvador wasn’t “the best example,” Sitharaman said,

“You’d think common people don’t care about digital currency; but the public took to the streets against the move. It’s not a question of literacy or understanding – it’s also a question of to what extent this is a transparent currency; is it going to be a currency available for everyone?”

Sitharaman referred to CBDCs as a “legitimate” cryptocurrency and admitted there could be a “possibility,” in hat regard. She noted that India held the “strength of the technology” and acknowledged the need to formulate a Cabinet note. However, Sitharaman wondered if India was ready to follow El Salvador’s way.

Facts on the ground

Though accessibility is a pressing concern, more Indians have discovered crypto than perhaps expected.

Nischal Shetty, CEO of the Indian crypto exchange WazirX – a subsidiary of Binance Holdings – has stated that WazirX sign-ups from India’s tier-two and tier-three cities overtook those from tier-one cities this year. Even so, sign-ups from tier-one cities themselves saw a 2,375% rise. Furthermore, WazirX added one million users in April 2021 alone.

Adding to this, the cost of electricity and Internet data in India are relatively cheaper, which could boost both crypto trading and mining in the future. However, at the last count, there was only one Bitcoin ATM in the whole country.

As per data by Useful Tulips, which combined data from Paxful and LocalBitcoins, India saw transfers worth around $4,502,369 in the last two weeks.

Could anti-Bitcoin protests happen in India?

There is evidence to support both sides. India has a strong history of mass protests, with the farmers’ protests against the government’s agricultural laws being one such example. The 2016 demonetization of part of the country’s paper currency still haunts many, and Internet penetration is yet to cross 50%.

However, India also has the largest diaspora in the world, with approximately 18 million people living outside the country. Crypto innovation could lead to hundreds of millions of dollars being saved on remittance charges as money is sent across borders.

But for the time being, it seems India’s urban residents are more bullish about crypto than its government.

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Source: https://ambcrypto.com/indian-government-cautious-about-crypto-adoption-cbdc-is-a-possibility

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