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Dublin Based Crypto Brokerage Breaking Crypto Trading Barriers

Trading fees are disadvantageous to all investors, as they usually take up a lot of the crypto funds. Not only that, but exchanges frequently charge hidden fees, such as conversion fees, withdrawal commissions, and so on. Thus, you end up giving more to the exchange instead of making the most of your trade. Amplify is a crypto brokerage that believes traders should not have to pay fees when they make trades. About Amplify and Its Purpose Amplify is among the few exchanges in the crypto industry that has zero trading fees. The platform was launched in 2019, it’s accessible to

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Trading fees are disadvantageous to all investors, as they usually take up a lot of the crypto funds. Not only that, but exchanges frequently charge hidden fees, such as conversion fees, withdrawal commissions, and so on. Thus, you end up giving more to the exchange instead of making the most of your trade. Amplify is a crypto brokerage that believes traders should not have to pay fees when they make trades.

About Amplify and Its Purpose

Amplify is among the few exchanges in the crypto industry that has zero trading fees. The platform was launched in 2019, it’s accessible to people from 150 countries, including Ireland, and it’s supported in nine native languages. The Amplify suite combines Industry-leading portfolio management tools and an intuitive user experience; and, best of all, it’s based right here in Ireland with headquarters in Dublin!

Amplify makes use of high-end technologies, including blockchain, in order to provide the best security and trading experience, as it is the standard with top cryptocurrency brokerages.

The CEO of the exchange, Justin Tabb, has expressed his opinion that today’s exchange industry is taking advantage of traders, by charging higher fees on their trading, extending lockup periods for money market suite products, and using their centralized power to force traders to conform to the rules of their platform. Inspired by top traditional financial trading platforms such as Charles Schwabb and Fidelity which do not charge any fees for their trading, Tabb created Amplify Brokerage to be the first global crypto brokerage that would not charge trading fees.

Amplify’s Roadmap and Achievements

True Commission Free Trading

The first feature of the Amplify Brokerage that rolled out in 2019 was their commission-free model, which distributes the fee charged for filling the order onto the liquidity provider matching the order, instead of the end-user/trader.

Big firms, such as TD Ameritrade and e*Trade, launched their zero-fee trading model, and Amplify has followed their example to launch the first cryptocurrency exchange that has zero fee commissions. When compared to a regular exchange, such as Coinbase, Amplify allowed traders to earn 1.4% more Bitcoin on the exact same Bitcoin order.

What Cryptos Can You Trade With?

Amplify has an ample list consisting of 40 currency pairs, which can be traded by all residents of the available countries at globally regulated spot pricing. Amplify’s supported tokens list is:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Ripple
  • Bitcoin Cash
  • Stellar Lumens
  • Dash
  • Cardano
  • NEO
  • Ethereum Classic
  • Basic Attention Token
  • ZRX
  • EOS
  • IOTA
  • Augur
  • Amplify Loyalty Token (AMPX)

Fast and Simple Onboarding

Most exchanges implement a time-consuming and difficult process, but Amplify wants to make things easier for all traders. The platform was developed to allow traders to create a Level 1 account in less than a minute.

In order to become a Level 2 trader, which gives access to higher daily deposit and withdraw limits, users require less than 3 minutes. This enables first-time customers to use an exchange quickly, and the site also includes instructional videos on how to onboard and use the account.

Security Features

Amplify strived to make its platform as secure as it is facile to use. Most of the exchange’s funds are stored in cold wallets, which benefit from industry-leading technology. Cold storage is the most secure way of keeping crypto funds safe from online attackers or hacks.

In 2019, the platform added insurance to its cold storage funds. The insurance covers losses of up to $100M. Moreover, funds are 100% safe, and users can rest assured that, in case of a breach, they will be refunded.

The Amplify platform interface featuring portfolio management tools and mobile web optimized trading

Accurate Profit and Loss Tracking

The Amplify platform is among the few that have implemented profit and loss tracking. Their proprietary Profit & Loss system was created by trading experts, enabling users to manage the performance of their portfolio. The mechanism benefits from highly accurate asset analytics to help users make the best trades. The interface of Amplify connects with external trading platforms, brokerages, and exchanges and calculates the best bid and ask offers on the market. The profit and loss tracking functionality will see further updates in 2020.

New Features to Come

Fiat Options

Amplify will add new exciting features in the first half of 2020, including fiat onramps and offramps. This will make Amplify the only zero-fee trading exchange to provide fiat trading options against cryptos. Users will be able to buy or sell cryptos by using their bank account. Credit & Debit Card processing from global service providers will be implemented in 2020 to also enable debit or credit card purchases.

More Liquidity

Deep liquidity requires the use of multiple liquidity providers. Amplify has ensured liquidity so far by using a large number of exchanges that agree to their commission-free model, as the liquidity provider covers the user fees.

Additional liquidity providers will be added to their list in 2020 in order to offer an enhanced experience on the platform.

More Languages

Amplify is currently available in 9 different languages, but the platform wants to add more to cater to its global audience. The exchange is going to offer users the possibility of trading without fees in their native language. Because of this, more languages, educational content, and marketing emails will be added on the platform in 2020.

Pro Exchange

The most awaited feature for early 2020 is Amplify’s Pro Exchange. This new platform will change the way users make their trades and give valuable insight into the performance of their trading strategy.

Signing up on Amplify:

  1. Access the https://amplifyexchange.com site;
  2. Go to the upper right corner and click the green “Register” link;
  3. Enter the required details, such as your first name, last name, email, date of birth. Put in your country and choose a strong password;
  4. Pass the “CAPTCHA” confirmation;
  5. Click “Continue;”
  6. A confirmation screen will appear, and you will receive an email;
  7. Click on the link you received in the email;
  8. Enter the password for your Amplify account;
  9. Click “Continue” for account confirmation;
  10. Enter your wallet address in the blank spaces;
  11. Click “Continue;”
  12. Log in again and start trading without fees.

Conclusion

Amplify is an ambitious exchange project that has started with a lot of enticing features, such as zero trading fees, and has many more functionalities and upgrades for 2020. We can’t wait to watch where they will go next and we’re excited to be along for the journey.

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Source: https://bitcoinsinireland.com/dublin-based-crypto-brokerage-breaking-crypto-trading-barriers/

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MicroStrategy Acquires More Bitcoin, Holds More Than 105,000 BTC

MicroStrategy Bitcoin

Rate this post Business analytics firm MicroStrategy has added more Bitcoin to its balance sheet, taking the company’s collective holdings to a whopping 105,085 BTC. According to an announcement from the firm’s CEO Michael J. Saylor, MicroStrategy spent $489 million to add another 13,005 BTC to its treasury. Michael Saylor Announces New Bitcoin Purchase For MicroStrategy Saylor and his company have maintained their belief in Bitcoin’s potential despite the primary crypto’s ongoing price struggles in a volatile market. The company has been pumping the digital asset since last August following the pandemic-induced inflation, which forced investors to seek non-traditional options that safeguard their assets. In its most recent accumulation effort, MicroStrategy snagged 13,005 BTC for an average price of $37, 617 per token. However, the digital asset has declined sharply in the last few days, and one coin is currently trading for $32,500.  As part of its announcement, the firm revealed that its recently formed subsidiary MacroStrategy LLC holds 92,079 BTC of its total balance.  Altogether, the new investment takes MicroStrategy’s combined Bitcoin holdings to a staggering 105,085 coins. At the current spot price, this holding is worth $2.74 billion, with each token amounting to slightly more than $26,000.  MicroStrategy Raised $500M to Procure Its Current BTC Investment Earlier this month it was reported that MicroStrategy was offering senior secured notes due in 2028 to raise half a billion dollars in debt. These notes bore an annual interest rate of 6.125%. The company had originally capped the sale at $400 million, but shortly thereafter it boosted its offer by another $100 million.  Following the sale of its debt offering, the company revealed that it had amassed nearly $489 million, which would be invested in Bitcoin. At the same time, MicroStrategy also announced that it was planning to sell up to $1 billion in stocks and that part of those proceeds would be directed to buying more Bitcoin. Even before its recent purchase, MicroStrategy owned the largest reserve of the flagship crypto among all publicly traded companies. 

The post MicroStrategy Acquires More Bitcoin, Holds More Than 105,000 BTC appeared first on Cryptoknowmics-Crypto News and Media Platform.

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Business analytics firm MicroStrategy has added more Bitcoin to its balance sheet, taking the company’s collective holdings to a whopping 105,085 BTC. According to an announcement from the firm’s CEO Michael J. Saylor, MicroStrategy spent $489 million to add another 13,005 BTC to its treasury.

Michael Saylor Announces New Bitcoin Purchase For MicroStrategy

Saylor and his company have maintained their belief in Bitcoin’s potential despite the primary crypto’s ongoing price struggles in a volatile market. The company has been pumping the digital asset since last August following the pandemic-induced inflation, which forced investors to seek non-traditional options that safeguard their assets.

In its most recent accumulation effort, MicroStrategy snagged 13,005 BTC for an average price of $37, 617 per token. However, the digital asset has declined sharply in the last few days, and one coin is currently trading for $32,500. 

As part of its announcement, the firm revealed that its recently formed subsidiary MacroStrategy LLC holds 92,079 BTC of its total balance. 

Altogether, the new investment takes MicroStrategy’s combined Bitcoin holdings to a staggering 105,085 coins. At the current spot price, this holding is worth $2.74 billion, with each token amounting to slightly more than $26,000. 

MicroStrategy Raised $500M to Procure Its Current BTC Investment

Earlier this month it was reported that MicroStrategy was offering senior secured notes due in 2028 to raise half a billion dollars in debt. These notes bore an annual interest rate of 6.125%. The company had originally capped the sale at $400 million, but shortly thereafter it boosted its offer by another $100 million. 

Following the sale of its debt offering, the company revealed that it had amassed nearly $489 million, which would be invested in Bitcoin. At the same time, MicroStrategy also announced that it was planning to sell up to $1 billion in stocks and that part of those proceeds would be directed to buying more Bitcoin.

Even before its recent purchase, MicroStrategy owned the largest reserve of the flagship crypto among all publicly traded companies. 

READ  MicroStrategy’s Bitcoin Stack Up: Brilliant Moves or Risk?

#Bitcoin #CEO Michael Saylor #MicroStrategy #MicroStrategy BTC Investment

Source: https://www.cryptoknowmics.com/news/microstrategy-acquires-more-bitcoin-holds-more-than-105000-btc/

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Thailand SEC Bans Meme Coins, Fan Tokens, NFTs

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Local exchanges in Thailand had been given a deadline until July 11 to submit their new rules for listing tokens that complies with the new guidelines from the Thailand Securities and Exchange Commission (SEC).

“The Securities and Exchange Commission (SEC) Board has approved the new rules that prohibit digital asset exchanges from providing services in relation to utility tokens and certain types of cryptocurrencies. The rules also specify that the exchanges set a requirement to be imposed in the event that digital tokens issued by their own exchange or related persons are listed on the exchange. In this regard, the token issuer who fails to comply with the white paper and relevant rules in substance could risk having such tokens delisted from the exchange. This new regulatory guideline aims to enhance protection of digital asset traders’ interest.”

The Thai SEC also added that listing rules prohibits local exchanges from providing services that have these following characteristics:

(1) Meme Token – having or no clear objective or substance or underlying, and whose price runs on social media trends.

(2) Fan token: tokenized by the fame of influencers.

(3) Non-Fungible Token (NFT): a digital creation to declare ownership or grant of right in an object or specific right. It is unique and not interchangeable with digital tokens of the same category and type at the equal amount.

(4) Digital tokens which are utilized in blockchain transactions and issued by digital asset exchanges or related persons.

Along with this move is their previous announcement of regulating Decentralize Finance (DeFi) projects in the country, including the issuance of digital tokens.

In the previous announcement, liquidity provider tokens, governance tokens, or tokens issued to those transacting in DeFi projects “must be licensed and must abide by the specified rules”.

The new regulation stipulates crypto exchanges, digital-asset brokerages, digital asset-dealers, private fund managers and investment advisors must be licensed by the Ministry of Finance.

Thai SEC states that, “For traders, it is best to study the DeFi project before getting involved in both technical and security aspects.” They also added that traders “should check whether the service provider is a digital-asset business that is licensed and regulated by the SEC or other regulatory agencies under law.”

This article is published on BitPinas: Thailand SEC Bans Meme Coins, Fan Tokens, NFTs

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Source: https://bitpinas.com/regulation/thailand-sec-ban-meme-tokens/

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After Bitcoin U-Turn, Nigeria Plans To Launch Central Bank Currency This Year

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According to Reuters, the Central Bank of Nigeria (CBN) plans to launch a digital currency pilot as soon as the end of this year.

Last month, the CBN Governor, Godwin Emefiele, made a U-turn on Bitcoin and other cryptocurrencies by saying he will “allow” them. Previously, the CBN had sought to restrict the cryptocurrency sector by imposing regulatory sanctions on monetary businesses that serviced cryptocurrency exchanges.

In a turn of fortunes, it now looks as though Nigerian officials are embracing blockchain technology. All the same, in what may well turn into a showdown between private and public cryptocurrencies in the future, arguments against central bank offerings remain as pertinent as ever.

The Nigerian Central Bank Digital Currency Has Been Years In The Making

Despite Nigeria’s purported aversion to fintech, it’s emerged that the central bank has been working on a digital currency for the past two years.

The CBN Director of Information Technology, Rakiya Mohammed, echoed what many other countries have mentioned in the past. That is, Nigeria will not be left behind in the technological revolution.

“We’re all aware that about 80% of central banks in the world exploring the possibility of issuing central bank digital currency, and Nigeria cannot be left behind.”

One of the reasons given for the CBN’s previous anti-Bitcoin position was a need to protect its citizens. In 2018, the CBN said that there is no legal redress if things go wrong in an unregulated market. There was also the usual spiel of links to illicit activity such as money laundering and terrorist financing.

Mohammed sells the idea of a central bank digital currency on it bringing financial inclusion and having the backing of the Nigerian government.

“If you have a central bank digital currency that is backed by the government, then people can make transactions online without fear of any default.”

Is This The End For Privacy?

As previously mentioned by billionaire investor Ray Dalio, governments will do all they can to maintain monopoly control of their money, even if that means outlawing the competition.

“every country treasures its monopoly on controlling the supply and demand. They don’t want other monies to be operating or competing, because things can get out of control.”

Anthony Pompliano rubbished this idea saying governments cannot ban Bitcoin. But he concedes that a scenario of coordinated global action could make life difficult for Bitcoin users.

And as cryptocurrencies continue to make their mark in the world of finance, regulators and policymakers may soon be forced to show their hand on the matter.

Unlike private cryptocurrencies, which operate on decentralized networks, central bank digital currencies would be issued and controlled by a central bank. This enables them, and by extension national governments, to track every transaction in their economies.

Liberal commentators view this situation as a significant blow to privacy. What’s more, as noted with several U.K banks refusing crypto transactions recently, central digital currencies have the potential to bring about a dystopian future in which transactions deemed “against the state” also get refused.

Source: https://bitcoinist.com/after-bitcoin-u-turn-nigeria-plans-to-launch-central-bank-currency-this-year/?utm_source=rss&utm_medium=rss&utm_campaign=after-bitcoin-u-turn-nigeria-plans-to-launch-central-bank-currency-this-year

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