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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/

Blockchain

Making sense of Solana’s ‘extremely rapid’ growth

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When Solana experienced a crash right after hitting a new all time high on 9 September, traders and experts tried to make sense of the event. On “The Best Business Show,” investment expert Anthony Pompliano interviewed Kyle Samani, co-founder and managing partner at Multicoin Capital, to discuss the rising star-turned-meteor, that Solana has turned out to be.

From 4 cents to over $200

Pompliano began by discussing Multicoin Capital’s investment in Solana. He calculated that the initial investment had gone up roughly 3750 times since the initial round, when one SOL had been at $0.04.

For his part, Samani said,

“Solana today is growing at an extremely rapid pace. Users being on-boarded, assets being issued, stablecoins going into it – all of these things. Look at the last nine days: it’s just a vertical line from, call it a billion in assets to like 10 billion.”

While listing out possible factors for Solana’s success, Samani cited Solana’s speed and network, its NFT platform Metaplex, the rise in SOL’s price, and the stablecoins issued.

Network > Price

Inevitably, Pompliano brought up Solana’s crash – though he admitted calling it so was “hilarious,” in the context of the alt coin’s growth. However, Samani’s answer was a surprising one. He claimed that he tried to ignore prices and didn’t refer to Coin Gecko or Coin Market Cap. Rather, he preferred to focus on Solana’s network and its growth. He further explained,

“Our time horizon is measured in years, not weeks or months. So the question we will always ask ourselves, is you know, is this network compounding at a sufficiently fast rate? And if you really go dig into developer activity, user on-boarding, dollar flow in the system. . .all of those things right now are compounding at an astounding rate and I don’t think that’s going to slow down.”

Furthermore, the following infographic presents data on Solana transfers.

Could Solana kill Ethereum?

Samani spoke about Metaplex and how the NFT platform came during the NFT Boom of summer 2021. He noted Ethereum’s high gas fees and how many users saw Solana as a faster alternative. Even so, Samani admitted that he thought it was “improbable” for Solana to displace Ethereum. Instead he suggested the two would likely co-exist.

Samani also addressed a common criticism aimed at Solana, regarding the its centralized nature, due to the number of validators and the expensive hardware required to run it.

Samani called the criticism “valid” but “irrelevant,” pointing out that the trade-off meant better performance for users, reiterating the network’s rapid growth.

At press time, there were between 974 and 1000 validators on the Solana mainnet. Samani’s assessment of the alt coin was simple but memorable. He said,

“I don’t think there’s going to be another Solana.”

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Source: https://ambcrypto.com/making-sense-of-solanas-extremely-rapid-growth

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Will Bitcoin make a pitstop at $85,000, before racing to $100,000

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Even though Bitcoin has been making no major moves of late, the market’s bullishness on the coin continued making headlines, and all for the right reasons. After all, the king coin surprised the market before, with massive its moves that rendered skeptics silent. 

Bitcoin to $100K, by the end of the year is a much-anticipated move by the market. As we enter the last quarter of this year, Bitcoin is expected to push towards that major psychological barrier. However, even though Bitcoin presented a solid recovery from the May crash, at the time of writing, the effects of the September 7 flash crash hadn’t completely worn out. 

Nonetheless, as BTC presented around 3% daily gains and traded at the $48.5 level at press time, the market once again eyed BTC for some major moves. But before Bitcoin actually makes a move towards the $100K, its last stop would be the $85K mark which will confirm an upward move to $100K. 

The above observation was part of a market report by trading platform Decentrader ,which presented bullish signals in the near term, for BTC. It presented how we it could be setting up for a major run that first reaches $85,000 before breaking through the psychological barrier of $100,000, thereby making for an explosive Q4 2021. 

BTC looking hyper bullish 

In spite of BTC trading below $50K throughout the week, on-chain metrics have led analysts to stay bullish on Bitcoin price action. A report stated that the constantly decreasing supply of BTC on exchanges put upwards pressure on price in the medium term. With demand increasing as supply reduces, the price would go up. 

Further, another factor that contributed to Bitcoin’s bullish mid-term trajectory was its SOPR which presented a similar trend to the months that followed the March covid crash. After the summer crash where SOPR was heavily printing green candles, some minor selling at a loss was observed on this pullback from $50,000 too. Thus, SOPR flashed a sort of buy-the-dip opportunity as final sellers get flushed out before it moves higher, as was observed in Q4 2020. 

Additionally, Active Address Sentiment Indicator had reset with price change lower than active address change. With a pullback in prices alongside constant network growth, the market will look to catch up with network growth by noting price gains. 

Thus, the report presented a hyper-bullish possibility of Bitcoin reaching $85K by the end of Q4. However, Bitcoin’s options market didn’t look too big on gains at the moment with funding rate flashing negative signs. Further BTC’s global open interest by expiry indicated year-end expectations of around $65K which is almost $20K less than the target of $85K. 

So, is $100K too far?

Well, not really. The reason being that, from the July local low of around $30K Bitcoin registered almost 75% gain to reach the multi-month price high of over $52K. Notably from the current consolidating prices, another 75% price gain would land Bitcoin to $85K. So a rally like that over the next three months won’t be a big surprise. 

Thus, while BTC was consolidating, a squeeze upward should characterize the remainder of this year, similar to events from 2020. 

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Source: https://ambcrypto.com/will-bitcoin-make-a-pitstop-at-85000-before-racing-to-100000

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Hungary Unveils Statue In Honor Of Bitcoin Creator Satoshi Nakamoto

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Hungary Unveils Statue In Honor Of Bitcoin Creator Satoshi Nakamoto

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Key takeaways

  • Hungary has erected a statue in honour of the anonymous creator of Bitcoin, Satoshi Nakamoto.
  • Hungary’s Bitcoin adoption is still underdeveloped compared to other European countries.
  • The initiative hopes to create awareness for cryptocurrencies in the country.
  • Satoshi Nakatomo’s legacy is gaining traction globally.

A statue in honor of the anonymous creator(s) of the pioneer cryptocurrency, Bitcoin, has been erected in Hungary. The imposing bronze statue was unveiled in Budapest – Hungary’s capital – on Thursday. Its creators say it is the first in the world to pay homage to the anonymous creator of Bitcoin.

The bust sits atop a stone plinth engraved with the name of Satoshi Nakamoto, and features a featureless face wrapped in a bronze hoodie engraved with the Bitcoin logo. The face is heavily polished to make it reflective like a mirror in which viewers can see themselves.

The sculptors, Gergely Réka and Tamás Gilly said the face was made reflective to capture the mantra of “we are all Satoshi,” so when viewers look at the statue they are reminded that they play just as an important role in Bitcoin as Satoshi and everyone else does. The statue sits among others that depict notable figures including Steve Jobs, the founder of Apple.

The Central European nation considers Bitcoin to be an asset and hence subject to capital gains tax. In May, plans to reduce the tax rate on cryptocurrencies were however revealed. The finance minister Mihaly Varga posted a video address on Facebook that announced that from 2022, taxes on cryptocurrencies would be cut in half from a 30.5% rate to 15%. It is hoped that the cut would incentivize better tax reporting by cryptocurrency enthusiasts and bring in “several billion florists” – the country’s currency – in revenue.

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According to CoinDance, a Bitcoin trading volume by country data aggregator, Hungarians traded 256,260 (over $12 billion) in the past week. However, compared to many other members of the European Union, analysts say the Bitcoin space in Hungary is currently in a state of underdevelopment.

Andras Gyorfi, the initiator of the project and a Bitcoinjournalist, while addressing a crowd at the unveiling said that the statue is a token of respect to Nakamoto, and an effort to “raise awareness toward blockchain and cryptocurrencies.” Hungary has become the first country to honor Bitcoin creator Satoshi Nakamoto with a public statue.

The organizers of the statue project said they invited Nakamoto to the unveiling in the hopes of finally learning the true identity of the Bitcoin inventor. The moment was a significant one however as it shows how far Bitcoin has come since its creation in 2008. 

There is no doubt that Satoshi Nakatomo’s creation has created value for a lot of people. Recently, El Salvador became the first nation-state to adopt Bitcoin as legal tender. The country expects that with the move they will give back economic power to citizens and incentives savings in the form of reduced remittance fees that should have gone to remittance giants.

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Source: https://zycrypto.com/hungary-unveils-statue-in-honor-of-bitcoin-creator-satoshi-nakamoto/

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