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Why cloud-based trading systems will be the best solution to “Trade From Home” during a pandemic

Did you know that every 53 seconds a laptop is stolen? Also, every year more than 70 million smartphones are lost or stolen. It is not only the hardware that is stolen but the valuable Read more…

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Did you know that every 53 seconds a laptop is stolen? Also, every year more than 70 million smartphones are lost or stolen. It is not only the hardware that is stolen but the valuable data stored in the devices are also lost. Think about a company saving its important data in such devices and then losing the devices to some rogue. The picture doesn’t look good but thanks to cloud computing and the COVID-19 pandemic. The picture becomes better.

COVID-19 and cloud-based trading platforms

The recent coronavirus pandemic has forced companies to adopt new methods to keep their businesses alive. While employees working from home are appreciating its own set of advantages, one may wonder about the crashing of the system of the hardware going corrupt during these uncertain times. What’s worse is that numerous countries have imposed lockdown globally and it will be difficult to retrieve the lost data in such a situation. This brings us to the need of the hour- A safe and reliable space to store unlimited data, or avant-garde cloud storage services.

Today, cloud storage has become a buzzword all over the world. “Cloud” refers to nothing but a group of software and services running on the internet instead of one’s computer or device. Data that exists on the cloud is actually stored in a company’s server. Users don’t have to store anything on their laptops or phones. They can store the data on the “cloud” and also share resources with others seamlessly. Some of the popular cloud service providers include Amazon Web Service, Google Cloud platform, iCloud, SAP, and Microsoft Azure.

Meanwhile, the financial-trading space is no different. Cloud products will be the future and downloaded trading platforms are getting extinct.” Trade From Home” will be the new black. This means that traders can perform hassle-free trading and enjoy many benefits. Let’s dive deeper into the benefits that cloud-based trading systems can offer.

What do cloud-based financial trading systems offer?

Cloud-based trading systems will revolutionize the way trading has been happening all over the world. Novice traders who have budget constraints in buying devices, often look for RAM and hard drive space specifications. This is usually because the conventional software that needs to be installed might consume a lot of space on the device. But, cloud technology allows complete agility owing to the network that does all the job. Whether it is distributing the load across the servers or crashing of the servers, cloud-based trading systems offer better reliability and efficiency.

Also, traders will be able to access the cloud data from anywhere, thus, making it very easy to
trade at any time from any place or device. This is a plus during the present coronavirus pandemic. Also, mobility is one of the advantages; there will be enhanced data security in the system. As everything traders need will be stored in the cloud, data can be accessed irrespective of what happens to your device. Even if the device is lost or stolen, one need not worry about any hackers or data breaches. Traders can bounce back to trading in no time with the help of cloud data.

Moreover, cloud-based systems promote greater collaboration within a team. Employees in FinTech companies don’t have to go back and forth in sending documents when a single document is available on the cloud. This document can be used to share and work together. Similarly, trading can be done through the sharing of ideas through a single place. Since it is a technology for both consumers and companies, cloud-based services benefit both small and large businesses for mitigating disastrous situations. All in all, it creates a level playing field for everyone.

Final thoughts

According to a report by ResearchAndMarkets, it has been anticipated that the global algorithmic trading market will have a CAGR of 11% during the period 2019 to 2024. One of the major market trends is that cloud-based algorithmic trading platforms will be gaining the maximum amount of attention in this forecast period.

Building a cloud platform will be a one-stop-shop solution for every trader who wishes to trade from their home, car, or beach. There is a humongous amount of market data available on the cloud and this is a favorable thing for both exchanges and financial trading firms. No doubt, cloud-based trading platforms will offer countless benefits such as cost-effectiveness, efficient management, scalability, and seamless trade maintenance. In a nutshell, cloud-based web and mobile trading apps will become the new norm in the coming years. How prepared are you to trade in the cloud?

Source: http://blog.ionixxtech.com/why-cloud-based-trading-systems-will-be-the-best-solution-to-trade-from-home-during-a-pandemic/

Blockchain

How did Bitcoin lending become so popular?

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The rising valuation of Bitcoin witnessed the growth of several sectors involved with the digital asset. The crypto lending market has exhibited extraordinary growth as institutions-focused Genesis registered a 245% growth in their outstanding loans in 2020.

While the BTC lending market is young, its swift adoption has created a billion-dollar industry, which is one of the benchmarks of development for the current Bitcoin ecosystem.

Total Bitcoin collateral grew by 1170%

Source: Arcane Research

According to Arcane Research’s recent Banking on Bitcoin report, the total active collateral in the BTC lending market has increased to ~$25 billion from $2 billion in 12 months. It was estimated that the number of Bitcoin used for collateral at the moment is around 420,000 BTC, however, this estimation is based on a modest evaluation that only 50% of the active loans are backed by Bitcoin collateral, whereas various industry experts believe it could be close to 70-80%.

While there are various Bitcoin lending companies in the current market, the impact of the institutional lending organization such as BlockFI and Genesis have been vital.

As mentioned earlier, Genesis’ active loans outstanding improved from $649 million in Q1 2020 to a whopping $3,821 million in Q4 2020. From Q3 to Q4, the growth was roughly 80%.

BlockFi registered similar impressive numbers, with a 50x increase in retail loans BTC collateral from Q4 2018 to Q4 2020; from $10 million to $500 million.

Bitcoin lending’s popularity grows

There are multiple factors that played into the expansion of the BTC collateral market. Over the past 12 months, the asset has received significant recognition after recovering at a rapid rate following the March 2020 crash. However, some of the most common reasons include leveraging on an existing position, arbitrage plays, and covering operation costs without selling any crypto holdings.

Source: Arcane Research

Some of its innate properties have improved over the few months. Bitcoin’s market has a 24/7 availability, which can be traded all year round and it is easily updated. Other assets such as Gold are only trading during the working days of the week, which is close to 30% less than Bitcoin.

Its store-of-value credentials have also improved drastically, with 75% of Bitcoin remaining in profit throughout its history.

However, one of the major reasons involves the ease at which BTC loans can be processed. Traditional loan methods require a certain amount of credit score, a tediously long process, and a lot of paperwork.

With Bitcoin, users do not need to establish a relationship with their banks to get a loan and they can easily lend from the emerging borderless Bitcoin lending market.


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Source: https://ambcrypto.com/how-did-bitcoin-lending-become-so-popular

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Blockchain

OLB Group enables crypto payments for thousands of US merchants

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OLB Group (OLB), a New York-based e-commerce merchant service provider, is making it easier for businesses to accept cryptocurrency payments.

OLB’s more than 8,500 merchants are now able to accept Bitcoin (BTC), Ethereum (ETH), USDC and DAI at the point-of-sale through the company’s OmniSoft business management platform. Customers wishing to pay with cryptocurrency in-store or through their mobile phones can simply elect to do so with their cryptocurrency wallets. All payments are processed through SecurePay, a payment gateway that authenticates the transaction, converts the cryptocurrency to U.S. dollars and approves the final sale.

The decision to integrate cryptocurrency payments was partly driven by the growth of contactless and online orders during the Covid-19 pandemic. With the OmniSoft platform already providing merchants with several options to facilitate payments, cryptocurrencies were the next logical step. 

Ronny Yakov, OLB Group’s CEO, says the payment gateway and point-of-sale architecture are “familiar territory for merchants,” which makes integrating cryptocurrencies through such channels easy.

On the topic of cryptocurrency payments – a promising but underutilized use case for the industry – Yakov believes we are still in the very early stages of adoption.

“It’s very early in crypto-as-a-payment adoption, but we see increasing interest from merchants exploring this payment option as a means to meet their customers however and wherever they prefer,” Yakov tells Cointelegraph.

He also believes certain industries are more likely to adopt crypto payments before others:

“We anticipate that adoption will happen more quickly in higher-ticket transactions such as jewelry, B2B billing and real estate because the transaction fees for cryptocurrency processing are lower – often half of typical credit card fees.”

Cryptocurrencies like Bitcoin have struggled to become a viable medium of exchange, inviting criticism about their utility. Charlie Munger, the billionaire investor and Berkshire Hathaway vice chairman, recently criticizedBitcoin for being “too volatile to serve well as a medium of exchange.”

With development work on scaling and sidechains still in progress, it remains to be seen whether cryptoassets will ever function efficiently as payment systems. In the meantime, assets like Bitcoin and Ethereum are valued for their store-of-value and development capabilities, respectively.

Source: https://cointelegraph.com/news/olb-group-enables-crypto-payments-for-thousands-of-us-merchants

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Blockchain

Litecoin, Monero, Dash Price Analysis: 28 February

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Litecoin witnessed a downwards breakout from a parallel channel and moved to its support at $156.75. Monero was projected to move sideways as trading volumes and buying activity was suppressed. Lastly, a descending triangle emerged on Dash’s chart but a breakout largely depended on the direction of the broader market.

Litecoin [LTC]

Source: LTC/USD, TradingView

On the hourly timeframe, Litecoin broke below its parallel channel and moved to another region of support at $157.5. The On Balance Volume dipped as the price broke below the bottom trendline, but the index was recovering at the time of writing. A bullish crossover in the Stochastic RSI added some more optimism as LTC picked up from the $157 support line.

However, it was hard to overlook LTC’s bear market and stronger cues could be needed to back a move above the immediate overhead resistance. A spike in the 24-hour trading volumes could be one such signal that could project an upwards breakout on the charts.

Monero [XMR]

Source: XMR/USD, TradingView

The 24-hour trading volumes on Monero were muted as the cryptocurrency failed to break out from the $224.5 and $196.3 range. The  Bollinger Bands showed that volatility remained on the lower side as the bands were compressed. This also meant that massive movements were unlikely and XMR could continue to trade within its current channel over the next few sessions.

A bullish twin peak setup on the Awesome Oscillator was negated as momentum tilted in the favor of the sellers at the time of writing.

Dash [DASH]

Source: DASH/USD, TradingView

Dash formed a descending triangle on its 4-hour chart as the price formed lower highs since snapping a local high at over $330. The On Balance Volume also steadily declined as the sell-off was heightened by a correction in the broader market. The Stochastic RSI continued its southbound trajectory after reversing from the overbought region.

Further weakness in market leaders BTC and ETH could continue to have a negative impact on Dash, and support levels at $166.8 and $135.3 could be tested in the event of a downwards breakout. On the flip side, Dash’s pattern could be invalidated if the price moves north on the back of a broader market rally.


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Source: https://ambcrypto.com/litecoin-monero-dash-price-analysis-28-february

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