Blockchain
Use the HolyTransaction Wallet for Staking Gridcoin
Being able to mine cryptocurrency and earn a passive income without having to buy thousands of dollars’ worth of hardware almost sounds too good to be true. However, it is a real practice that countless crypto users have turned to in order to profit in a much safer way than trading digital coins. This is,…
The post Use the HolyTransaction Wallet for Staking Gridcoin appeared first on Live Bitcoin News.


Being able to mine cryptocurrency and earn a passive income without having to buy thousands of dollars’ worth of hardware almost sounds too good to be true. However, it is a real practice that countless crypto users have turned to in order to profit in a much safer way than trading digital coins.
This is, of course, possible through the process of staking.
Staking allows you to lock a number of coins that you own in a crypto wallet, and then use them to help run the coin’s network. In doing so, you can receive new coins as a reward. Essentially, it is just like mining, only there are no ridiculously high costs of electricity and equipment needed.
All that you really need to do is select a coin you’d like to stake, and set up a wallet for it. After that, the process can begin.
There are many coins that you can use for staking, as well as many wallets in which you can lock them in. Today, however, we are interested in GridCoin (GRC).
GridCoin staking
Since staking is not mining, you can use pretty much any type of equipment in order to earn more coins.
There are two ways for you to contribute to the project. The first one is contributing your computing power towards Berkely Open Infrastructure for Network Computing (BOINC). Alternatively, you can purchase GRC and help the project secure the network by leaving the wallet running, and letting it stake your coins.
This is the method we are interested in today, as it consumes a lot less power than the first one. Not only that, but you can earn up to 20 GRC whenever you stake a block successfully.
One thing that you should note is that GRC is a bit different than other projects of this kind. The probability of staking one of its blocks is directly tied to the amount of GRC that you have in your wallet.
Basically, the more you have, the more you get to earn in a certain period. According to the project, staking generally allows the user to earn a 1.5% reward per annum.
Stake GridCoin in HolyTransaction wallet
The second thing you need is to find the best wallet for staking GridCoin, and one of the best ones around for that is the HolyTransaction wallet. This is a crypto wallet that lets you not only stake coins, but also trade them, buy new ones, or sell the ones you have for fiat.
This makes it rather easy to exchange your rewards earned through staking, withdraw the money, and use it in the real world.
Of course, you can always just keep it and increase the amount you have for staking, which will help you earn more in the long-term.
HolyTransaction is a very user-friendly wallet, but also quite secure and convenient. As such, it is great for staking and keeping your coins within for prolonged periods of time. It is a system that will earn GRC for you, and all you need is to deposit Gridcoin in your HolyTransaction account for staking to commence.
Source: https://www.livebitcoinnews.com/use-the-holytransaction-wallet-for-staking-gridcoin/
Blockchain
Bybit to Cease Services for UK Citizens Following the FCA Ban on Crypto Derivatives Trading


The first consequences from the FCA ban on crypto derivatives trading in the UK are evident for the popular digital asset exchange Bybit. The company announced earlier that it will suspend its services to all customers based in the United Kingdom.
- Established in 2018, Bybit is a cryptocurrency exchange headquartered in Singapore with a reported user base of over one million registered clients. However, the firm will seize offering its services to UK-based customers, according to a recent press release.
- The statement informed that all UK users have to close all of their opened positions and withdraw all account balances by 8 AM UTC, March 31st, 2021. Following that date, UK citizens will be “restricted from accessing or performing any trading activities on Bybit.”
- Furthermore, the exchange will immediately restrict all new registrations using UK mobile numbers and/or IP addresses.
- Bybit’s decision is a direct consequence of a ban on crypto derivatives trading in the UK instituted by the country’s regulator – the Financial Conduct Authority (FCA).
- CryptoPotato reported last year that the watchdog planned to prohibit the sale, marketing, and distribution to all retail customers of crypto derivatives and exchange-traded notes (ETNs).
- At the time, the FCA described such products as “ill-suited for retail customers due to the harm they pose.” It also outlined that traders are unable to determine a reliable value because of the extreme volatility in the market and inadequate understanding.
- Interestingly, though, even the UK population couldn’t stop the FCA from implementing the ban as a survey compiled by the watchdog suggested that over 97% disagreed with the decision.
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Source: https://cryptopotato.com/bybit-to-cease-services-for-uk-citizens-following-the-fca-ban-on-crypto-derivatives-trading/
Blockchain
PAID Crashes 70% In Minutes as Network Purportedly Exploited

PAID Network, one of the most popular Initial DEX Offerings (IDOs) that took place on Polkastarter’s platform a while ago and brought tremendous returns to private sale investors, is going through what seems as a massive attack.
- PAID Network, one of the most popular and heavily promoted IDOs that brought massive returns to private sale investors, seems to have been exploited.
- Multiple reports on social media point towards the exploit.
- It appears that over 59 million PAID tokens were minted and sold through Uniswap.
- This resulted in the price of the token taking a nosedive and decreasing by more than 80% in minutes.

- At the time of this writing, the team hasn’t come up with an official statement.
- Many in the cryptocurrency community speculate that this is a rug pull as the owner of the contract had the capability to mint new tokens.
$PAID got exploited, the person who minted the additional tokens still owns roughly 49M $ in tokens.
This is not a dip you want to buy.https://t.co/9gYLCGWaa9
— Bagsy (@imBagsy) March 5, 2021
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Source: https://cryptopotato.com/paid-crashes-70-in-minutes-as-network-purportedly-exploited/
Blockchain
Bitcoin Losing the $50K Mark, Entering Bearish March: The Weekly Crypto Recap


This week was tough across the board, not just in the cryptocurrency market. It was marked by a serious correlation between Bitcoin and the S&P 500, as well as the entire legacy market, in general.
As CryptoPotato reported, the abovementioned correlation reached a 5-month high. While this seems to be bearish in the short term, given that the stock market slumped following government bond yield that gave the market a jolt, there’s also a bullish argument to be made.
Last weekend, the US House of Representatives passed President Biden’s $1.9 trillion COVID-19 Relief Package, which also got a 51-50 approval vote in the senate. Should the legislation become effective, it could be the case that markets will recover. Given the high correlation, this might also play out positively for Bitcoin and the cryptocurrency market as well.
Nevertheless, the week wasn’t favorable for the market as the primary cryptocurrency, as well as the majority of large-cap altcoins, remained indecisive and failed to regain the momentum they previously had. Presently, Bitcoin is trading at around $49,000. Historically, March has been one of the two most bearish months for Bitcoin, on par only with September. After all, we did see Bitcoin drop by 50% in 2 days last March upon the announcement of the coronavirus pandemic.
Elsewhere, major news took place all over. Binance Smart Chain saw its first major rug pull as Meerkat Finance saw its protocol drained of over $30 million in both Binance Coin and BUSD.
We saw developments in regard to the BitMEX – CFTC fiasco. In a recent filing, it was revealed that the former CEO of the derivatives exchange, Arthur Hayes, could surrender to US authorities in Hawaii this April.
On the more positive and funny side, Mark Cuban’s Dallas Mavericks announced that they would start accepting Dogecoin as a means of payment for tickets and merchandise. The billionaire celebrity gave the most earth-shattering explanation for the move, saying they did it “because we can.”
It’s certainly interesting to see how the global macroeconomic outlook will pan out in the coming days. Will the markets start to recover, or is there more pain ahead? Only time will tell.
Market Data
Market Cap: $1,444B | 24H Vol: 130B | BTC Dominance: 60.7%
BTC: $48,959 (+2.94%) | ETH: $1,531 (+0.38%) | XRP: $0.462 (+3.89%)
Bitcoin Correlation With S&P 500 at 5-Month High: Is This Bearish for BTC? Data reveals that the correlation between the S&P 500 and Bitcoin’s price has hit a 5-month high. This was clearly confirmed over the past week as the cryptocurrency is following the traditional stock market very closely.
US House Passes $1.9 Trillion COVID-19 Relief Package, $1,400 Direct Check Provisions Included. The US House of Representatives has passed President Biden’s $1.9 trillion stimulus bill the past weekend. The Senate also voted 51-50 to proceed with the regulation. If successful, this will see another financial injection into the US economy.
First Major Rug Pull on Binance Smart Chain? Over $30 Million Drained. Meerkat Finance might have been the very first major rug pull on the novel Binance Smart Chain. The protocol saw over $30 million drained from it in what appears to be a rug pull. The community was taken ablaze as many people lost a lot of money.
Former BitMEX CEO Arthur Hayes Could Surrender in Hawaii in April. The former CEO of BitMEX and one of the most influential figures in the cryptocurrency industry, Arthur Hayes, could surrender to US authorities in April in Hawai. This became clear after new court documents were filed.
Mark Cuban’s Dallas Mavericks to Accept Dogecoin Payments. The Dallas Mavericks – an NBA team owned by famous billionaire and Shark Tank star Mark Cuban, will be accepting Dogecoin payments for tickets and merchandise. This became clear after a recent announcement where Cuban gave an astonishing reason for the move – “Because we can!.”
Tim Draper Handpicks Netflix as the Next Company to Purchase Bitcoin. According to one of the most popular venture capitalists in the cryptocurrency field, Tim Draper, the next major company to buy Bitcoin might be the streaming giant Netflix. He believes that the company’s co-CEO is the guy in control, and he thinks he’s an “innovative guy.”
Charts
This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Polkadot, and Cardano – click here for the full price analysis.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
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Source: https://cryptopotato.com/107410-2/
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