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crypto.com launches in Kenya; giving users a chance to win KES 50,000 worth of crypto.

crypto.com a pioneering payment and cryptocurrency platform is opening up to Kenyan users. crypto.com is a leading cryptocurrency company operating in various markets around the world in Asia, Europe, North America, and now in Africa. The user friendly crypto.com mobile app enables users to buy, sell, pay, and track their crypto portfolio easily offering support to […]

The post crypto.com launches in Kenya; giving users a chance to win KES 50,000 worth of crypto. appeared first on coinweez.

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crypto.com kenya
crypto.com launches in kenya

crypto.com a pioneering payment and cryptocurrency platform is opening up to Kenyan users. crypto.com is a leading cryptocurrency company operating in various markets around the world in Asia, Europe, North America, and now in Africa.

The user friendly crypto.com mobile app enables users to buy, sell, pay, and track their crypto portfolio easily offering support to over 45 cryptocurrencies. MCO visa cards enable users to shop and use crypto for day to day expenses. There is also a crypto exchange with various perks such as earning up to 20% APR for staking CRO on the exchange, rebates when you pay trading fees with CRO, discounts for new listings for staking CRO (Syndicate) among others.

Crypto earn product enables users to earn unto 8%p.a for selected tokens and unto 12% p.a on stable coins staked on the platform. Users can also deposit crypto and get a loan. 

crypto.com‘s vision is ‘cryptocurrency in every wallet’ and in order to achieve that mission, the company is focused on ensuring users have various ways of buying and selling crypto as well as pay, spend and earn in various markets.  With over 2 Million users, crypto.com is on a massive global expansion. 

crypto.com  launched a Kenyan telegram community on Wednesday 29th April 2019 and is running a promotion from 29th April to 03 May 2020.

You can find the announcement here: https://blog.crypto.com/crypto-com-local-telegram-communities-official-launch/

The details of the participation in the giveaway can be found by joining the Kenyan community on Telegram and clicking on the pinned message. 

You can also find the link here. 

Users who sign up for the app during the period of the competition stand a chance to win CRO (the native token of the  crypto.com  chain enabling users to pay and be paid in any crypto anywhere for free) CRO currently among the top 20 cryptocurrencies on coinmarketcap. 25 winners will each take away $20 in CRO deposited in their mobile app.

For any queries, join the Kenyan crypto.com telegram community for a chance to win and learn more details about crypto.com products and services.

Source: https://coinweez.com/crypto-com-launches-in-africa-and-kenya-is-the-first-country/?utm_source=rss&utm_medium=rss&utm_campaign=crypto-com-launches-in-africa-and-kenya-is-the-first-country

Blockchain

Wall Street Giant Guggenheim Fund Seeks SEC Approval to Buy Bitcoin Worth up to $500 Million

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  • Guggenheim Partners is among the largest investment and advisory financial services companies. The Wall Street giant filed a document with the US Securities Exchange Commission (SEC) to enable one of its funds, dubbed the Macro Opportunities Fund, to allocate millions of dollars in bitcoin.
  • According to the filing, the Fund plans to spend 10% of its net assets on bitcoin through the leading cryptocurrency manager – Grayscale.
  • “The Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly investing up to 10% of its net asset value in Grayscale Bitcoin Trust (“GBTC”), reads the SEC filing.

  • Fidelity and Morningstar estimate that the Fund in question has about $5 billion in assets under management. Should the Fund indeed allocate 10% of this amount into BTC, it would mean a purchase worth $500 million.
  • With Bitcoin’s price hovering around $18,000 as of writing these lines, this substantial purchase would amount to about 27,650 bitcoins.
  • The SEC filing describes cryptocurrencies as “digital assets designated to act as a medium of exchange.” The document also listed several risks associated with cryptocurrency investments. 
  • Those include lack of digital asset exchange regulation, GBTC’s historical “significant premium,” and uncertainty around taxation, regulations, and more.
  • 2020 has turned out to be the year with the most substantial institutional BTC purchases. If Guggenheim proceeds and buys bitcoin, the Wall Street giant will join the likes of MicroStrategy and Jack Dorsey’s Square
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Source: https://cryptopotato.com/wall-street-giant-guggenheim-fund-seeks-sec-approval-to-buy-bitcoin-worth-up-to-500-million/

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Respected Financial Historian Calls for Bitcoin Integration into U.S. Financial System

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Financial historian and Milbank Family Senior Fellow at the Hoover Institution at Stanford University, Niall Ferguson, has penned a lengthy piece on Bitcoin which is getting noticed by the crypto community.

In it, the former Harvard and Oxford University professor commented on how the traditional naysayers and debunkers have softened their collective stances this year as the asset outperforms most other traditional investments.

Big Bitcoin Endorsements

The piece was re-tweeted a number of times, most recently by 10T Holdings co-founder Dan Tapiero who observed that this could garner huge attention. Of particular note were the comments on the integration of Bitcoin into the U.S. financial system;

“Rather than seeking to create a Chinese-style digital dollar, Joe Biden’s nascent administration should recognize the benefits of integrating Bitcoin into the U.S. financial system,”

Ferguson made additional references to China’s digital yuan adding that its potential for adoption for remittance payments or cross-border trade settlements is ‘substantial’.

The Bloomberg columnist had previously written on the virtues of Bitcoin stating that there are far fewer coins in circulation than there are millionaires on the planet.

“If millionaires collectively decided to hold just 1% of their wealth as Bitcoin, the price would be above $75,000 — higher, if adjustment is made for all the bitcoins that have been lost or hoarded.”

Big Names Paying Attention

He made reference to a number of big names in the financial world including Paul Tudor Jones, Stan Druckenmiller, Bill Miller, and even Ray Dalio that are now appearing to turn bullish. Even ardent Bitcoin detractors such as Peter Schiff and Nouriel Roubini, also mentioned in the article, have started to change their tune.

He added that adoption has much further to go, quoting Argentine-born tech investor Wences Casares who stated after ten years of working well without interruption, with close to 100 million holders, adding more than a million new holders per month and moving more than $1 billion per day worldwide;

“it has a 50% chance of hitting a price of $1 million per bitcoin in five to seven years’ time.”

The advantages of sovereignty and scarcity are obvious at a time when the supply of fiat money is exploding, Ferguson added, concluding that there was a clear demand for more privacy when it comes to a payment system that will inevitably replace cash.

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Source: https://cryptopotato.com/respected-financial-historian-calls-for-bitcoin-integration-into-u-s-financial-system/

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Further Declines in Bitcoin Price Possible Though Grayscale is Crucial, Notes JPM Analyst

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Although Bitcoin has recovered from its vigorous price losses during the Thanksgiving massacre, analysts from JPMorgan Chase & Co believe that further declines may still occur.

The strategists pointed out that Grayscale, through its Bitcoin Trust, will play a significant role in future BTC price developments.

Is Bitcoin To Head Further South?

The primary cryptocurrency reached a new yearly high of $19,500 last week; thus, it came less than 3% away from the 2017 all-time high of $20,000. As the community began speculating on how long it will take to surpass that level, the trend reversed viciously.

Bitcoin headed south and lost over $3,000 of value in hours. Nevertheless, the cryptocurrency has recovered most of its losses and trades north of $18,000.

A JPM analysis, led by Nikolaos Panigirtzoglou, recently said that the Thanksgiving price drops had cleared the “previous froth in momentum traders’ positioning.” However, the strategists hinted that Bitcoin could still go lower.

“Momentum traders such as commodity trading advisors and other quantitative funds likely played a big role in the slide by unwinding long Bitcoin futures positions. Momentum traders have room to further propagate” the Bitcoin decline, noted the analysts cited by Bloomberg.

Apart from broaching “momentum traders,” the strategists also discussed various other reasons behind the price developments. Those included the rumors of new regulations proposed by the Trump administration and profit-taking.

Grayscale Is Key

The JPM strategists also highlighted the significant role of Grayscale and its Grayscale Bitcoin Trust on the market. The cryptocurrency manager is the most preferred company for institutional investors to receive exposure to Bitcoin (and other digital assets) without worrying about storing the funds.

This has been exemplified through 2020 as Grayscale has reported back-to-back recording-breaking quarterly results. The assets under management (AUM) have exploded in the past 12 months to over $10 billion. Somewhat expectedly, the Grayscale Bitcoin Trust has the most substantial share.

The analysts asserted that if there’s a decline in the interest towards GBTC, this could damage the narrative that Bitcoin has become a favorite among institutional investors:

“A failure by the Grayscale Bitcoin Trust to receive additional inflows over the coming weeks would also cast doubt to the idea that institutional investors such as family offices have embarked on a trend of embracing Bitcoin as digital gold replacing traditional gold as a long-term investment.”

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Source: https://cryptopotato.com/further-declines-in-bitcoin-price-possible-though-grayscale-is-crucial-notes-jpm-analyst/

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