Outsmarting the Dark Web: Wirex’s strategy to unmasking Mule accounts

https://en.cryptonomist.ch/2024/02/06/outsmarting-dark-web-wirexs-strategy-unmasking-mule-accounts/

Three years ago, Wirex, a major UK-based cryptocurrency platform, joined forces with ZeroFox, a leading US cybersecurity company. This collaboration kickstarted a joint effort to safeguard Wirex’s brand integrity. ZeroFox played a key role by providing protective measures and actively addressing issues related to scammers.

According to Wirex’s analysis of alerts based on ZeroFox’s Dark Web monitoring, the predominant issue in 2023 is the number of offers to sell accounts on the Dark Web. Over time, malicious actors altered their behaviour, prompting Wirex and ZeroFox to extend their partnership in order to combat the growing threat.

The investigation showed an overwhelming number of proposals, connected to Wirex accounts and other well-known fintech products. Based on the data from ZeroFox alerts, nearly 7,000 alerts were escalated to Wirex during 2023. These statistics affirm that black markets, such as Telegram, pose significant risks for fintech companies.

The information presented below provides a visual representation of the frequency of mentions of different services in Telegram posts where Wirex accounts were promoted for sale in 2023. It’s crucial to emphasise that these figures do not include posts where accounts of other services are advertised for sale without mentioning Wirex. However, this data offers an overview of the magnitude of the issue.

This discovery led to a careful investigation to understand how deep and complicated the threat was.

Both companies took a proactive approach to tackle the issue of money mule accounts and today, we take a close look at the details of this journey, uncovering a complicated network of cybercrime and delving into the sophisticated strategies used by those causing harm.

During October and November 2023, ZeroFox attempted to contact the top Dark Web sellers of

Wirex accounts without any success in obtaining a genuine account. The selling of accounts on the dark web appeared to be just another scam approach.

In December 2023, ZeroFox team found a moderately credible threat actor known as “bear_gummy” who advertised verified accounts for various financial platforms, including Wirex, on the Dark Web forum “Exploit.” This marked the beginning of an intense investigation into the modus operandi of this threat actor.

The screenshot of the verified accounts advertisement

In an attempt to confirm the legitimacy of the threat, ZeroFox operatives reached out to “bear_gummy” through the Exploit forum’s private message system, Jabber, and Telegram messengers. ZeroFox operatives have been communicating anonymously with the actor of interest.

The person behind this seems likely not to be a native English speaker, evident from some language errors during chats.

The screenshot of the conversation with the actor via Telegram messenger

During the investigation, an interesting fact was highlighted: the malicious actor was building a positive reputation, as indicated by the seven positive feedbacks they’ve received, demonstrating a consistent commitment to maintaining the service model.

ZeroFox operatives successfully concluded a deal to purchase a Wirex account. Continuing with the case, Wirex requested to buy another account from the seller to understand where the malicious actor operates and to detect patterns in the registration of money mule accounts.

The results of the investigation strengthened Wirex’s user verification processes across all markets where Wirex provides financial services.

At the time of writing, Wirex has successfully upgraded its Customer Verification Risk Framework related to money mule accounts and is monitoring the improvements. ZeroFox will continue to assist Wirex in 2024 in combating Dark Web threats connected to money mule accounts and other risks associated with Wirex’s business.

It’s worth mentioning another area where Wirex utilised ZeroFox Dark Web monitoring for its clients to reduce the risk of stolen funds. Several dark web resources are selling botnet logs containing compromised credentials for various services, including Wirex. The stealer malware

was identified as the culprit responsible for extracting login credentials from compromised devices.

The page with logs containing Wirexapp.com compromised credentials being sold

Wirex makes sure to thoroughly check all leaked accounts. If an account is verified, the dedicated Wirex team promptly notifies and supports the clients through their Customer Support.

To summarise, the collaborative efforts of Wirex and ZeroFox have uncovered a sophisticated network of cybercrime involving the creation and sale of nearly 200 money mule accounts on Wirex. Furthermore, Wirex consistently identifies accounts through existing fraud and other controls, leading to investigations and appropriate actions. This proactive approach resulted in closing down 153 mule accounts in 2023. As leaders in the field, both companies remain committed to staying ahead of evolving threats and ensuring user safety in the digital landscape.

How to choose a safe casino zonder Cruks?

https://en.cryptonomist.ch/2024/01/23/how-to-choose-a-safe-casino-zonder-cruks/

Did you know that more bonuses and games are available at online casino without Cruks? Casinos zonder Cruks may still be legal in other countries with international gambling licenses. But is it a safe choice to bypass the Central Register for Exclusion of Gambling? First, it’s essential to learn more about Cruks register.

In October 2021, the first online casinos with a Dutch gambling license went live. To play here, you must not be listed in Cruks. This register is used by the Kansspelautoriteit (KSA) to track who is allowed to gamble and who is not.

It’s similar to temporarily blocking your account at an online casino abroad, but Cruks operates at a national level across all of the Netherlands. You’re then prohibited from online gambling everywhere. Moreover, physical casinos will also deny you entry.

Gambling sites without a Dutch KSA license are not required to connect to Cruks. However, a Dutch casino without Cruks does not exist. Are there risks associated with these online casinos? Or could it even be more advantageous? Experts from OnlineCasinosSpelen will tell you everything about online casinos without Cruks.

Gambling Without Cruks

If you’re interested in online gambling without Cruks, it’s useful to understand what the central register does. Essentially, it’s a national service that easily facilitates a gambling stop, offering addicted gamblers a chance to protect themselves.

Registering means you cannot gamble in the Netherlands for at least six months. This period can be extended up to 99 years. Cancellation is only possible after the first six months. Furthermore, an online casino can register you on Cruks if they have sufficient evidence of your gambling addiction. However, it’s still possible to gamble without registration.

A minimum of six months might seem quite long. You might also disagree with a provider’s ability to exclude you from online casinos. For these reasons, a gambling site without Cruks likely appears more appealing, offering more control over your gambling habits.

If you’re an expat not living in the Netherlands, Cruks need not concern you. In that case, choose from the best international online casinos for your gaming needs.

Advantages and Disadvantages of Online Casinos Without CRUKS in the Netherlands

Casinos operating under foreign licenses in the Netherlands are often not part of the CRUKS regime. Offshore casinos might have a license from Curaçao, Malta, Gibraltar, Costa Rica, or other countries. They meet necessary criteria, but not specifically Dutch standards.

The advantage of foreign casinos is that they don’t have to adhere to the Dutch Gambling Authority’s standards, such as maintaining a CRUKS register. Additionally, these sites often have less stringent requirements on play limits, bonuses, conditions, and the range of gambling games. However, a downside is the lesser emphasis on responsible gambling.

Advantages of Casinos Without CRUKS:

  • More lenient requirements for bonuses and associated terms.
  • Simplified casino account registration and easier KYC (Know Your Customer) process.
  • Fewer play limits compared to Dutch casinos with CRUKS.
  • Access to all casinos without self-exclusion restrictions.
  • Greater variety of gambling games and providers, offering more choice and diversity for players.
  • Potential to benefit from more favorable payout percentages in some foreign casinos.

Disadvantages of Casinos Without CRUKS:

  • No player protection from the Dutch Gambling Authority (KSA).
  • More challenging to control gambling behavior due to fewer play limits.
  • Limited options for gambling addiction help, such as self-exclusion.

Playing at Gambling Sites Without Cruks

Cruks doesn’t relate to the safety of a gambling site. Gambling outside Cruks doesn’t put you in danger. It means taking responsibility to prevent a gambling addiction, without a government entity addressing or denying you access to gambling sites. 

To assist, trustworthy casinos without Cruks allow you to set limits. OCS team strongly recommends doing this. Here are the limits and how to set them:

  • Deposit Limit: Decide how much you can deposit daily, weekly, or monthly. Align this with the portion of your income you can afford to lose.
  • Session Limit: Set how many hours you can be online daily, weekly, or monthly. Ensure that gambling doesn’t disrupt your social life.
  • Reality Check: To avoid tunnel vision, the casino will send periodic notifications. This helps you realize how long you’ve been playing without losing touch with the outside world.
  • Play Limit: Some gambling sites without Cruks let you decide how much you can bet daily, weekly, or monthly. This is separate from your deposit limit and can prevent you from gambling away your winnings.
  • Self-Exclusion: As a last resort, you can exclude yourself. Since it’s a casino without Cruks, this often applies only to the specific platform, but in some cases, like with Aspire Global, it includes other sites owned by the same company.

Casino Without Cruks iDEAL

Despite only Dutch online casinos being connected to Cruks, there are iDEAL casinos without Cruks. Various gambling sites from Curaçao, Costa Rica, or Kahnawake include it among their payment methods.

Technically, offering iDEAL as a payment method without a KSA license goes against the Remote Gambling Act. The Gambling Authority considers this targeting the Dutch market.

Hence, there’s a risk for players at these iDEAL online casinos. They risk sanctions, which could lead to closure or withdrawal from the Dutch market.

OnlineCasinosSpelen suggests looking for online casinos with Volt, Astropay or Sofort. These are also simple payment methods that work with various Dutch banks.

Moreover, they’re reliable if you ensure a secure connection. This is indicated by the lock icon next to the URL in the search bar. However, the payment method doesn’t affect how quickly a casino processes withdrawals. For this information, read the terms and conditions to understand their payout speed.

Reliable Casino Without Cruks

Before registering at a new gambling site, it’s crucial to check its reliability. This includes reading OCS’s honest casino reviews. There are many reliable casinos without Cruks.

Choose a Licensed Casino

An essential factor is the license of the casino without Cruks. Licenses from the MGA and the British Gambling Commission are generally considered very reliable.

These authorities have strict conditions for granting a gambling license. They also assist players with payout issues, something you can’t rely on with unlicensed casinos.

Other common licenses are from Curacao, Costa Rica, and the Canadian Kahnawake reserve. These are less reliable as the authorities are less strict. These licenses are popular with crypto casinos, as Malta, the UK, and the Netherlands don’t allow this payment method.

Be cautious, as many online casinos without Cruks claim to have such licenses, which may not be true. Always verify the authenticity of the license number provided.

Beware of Fake Copies of Slot Machines

At some casinos without Cruks, you might encounter fake slot machines. This only happens at sites with a false or no license. Otherwise, they must prove actual collaboration with the providers. The developers, in turn, must provide certificates proving the RNG is thoroughly checked and fair.

One way to identify an official version is by visually comparing the original and the copy. On many providers’ websites, you can try the slots for free. If you notice differences, even small ones in the design, it’s likely a fake.

For a more advanced test, check the origin of the game. Slot machines are not hosted on the websites without Cruks. Studios lend them, so the source code comes directly from the developer. OnlineCasinosSpelen.com reviews always mention if a website uses fake copies.

Read Other Players’ Complaints

Additionally, check if a casino without Cruks is safe by reviewing player complaints. However, discerning which complaints are valid is an art. Many players become angry when unlucky and might make exaggerated claims against the gambling site.

Also, observe how the company behind the website resolves these issues. If there’s no response, it’s better to stay away.

Can You Bypass Cruks?

The Cruks system is integrated with the Dutch state. When registering at a Dutch online casino, you must verify your identity. This process ensures that you are at least 18 or 24 years old.

All identity documents with your BSN (Citizen Service Number) are linked in this way. This enables gambling sites to recognize your identity and refuse service if you are listed in Cruks. However, if you have an identity document without a BSN, the system won’t recognize you.

Thus, it’s possible to create an account using a foreign passport or driver’s license. For better self-protection, it’s advised to add all your official documents to your Cruks profile. 

Another way to circumvent the register is by registering at one of the online casinos without Cruks. These foreign brands often allow you to request exclusion for as short as a week. So, at a casino without verification, it’s not necessary to block yourself for at least six months.

Tips for Safe Gambling

Choosing an online casino without Cruks doesn’t mean you should be careless with your money. OnlineCasinosSpelen still advises responsible gambling. There are several rules you can follow for responsible play at a gambling site.

For instance, it’s recommended to gamble only when sober. Just like a land-based casino won’t allow entry if you’re intoxicated, online gambling requires full control over your decisions. Otherwise, you might risk losing significant amounts impulsively.

Moreover, trying to recover debts or losses through gambling is never a good idea. Nor is borrowing money to gamble. With gambling, there’s always a chance of losing. A good rule is to not wager money you can’t afford to lose.

If you’re lucky enough to win, regularly cash out your earnings. This helps to resist the urge to reinvest your winnings in hopes of winning more.

Lastly, it’s important to take regular breaks. Setting a maximum duration for your gambling sessions is advisable. Your social life should not be compromised for gambling.

FAQ

Is It Safe and Reliable to Play at Online Casinos Without Cruks?

Cruks isn’t about safety or reliability; it’s simply a national register for protecting individuals with gambling addiction. The safety and reliability of a casino without Cruks can be assessed by its licenses, customer service, and the nature of complaints it receives.

What is an Online Casino Without Cruks and How Does It Work?

Any gambling site without a Dutch license is considered an online casino without Cruks. Cruks is a register by the KSA to protect players with a (potential) gambling problem. If you’re listed in Cruks, you’re prohibited from gambling anywhere in the Netherlands.

What Are the Key Features to Look for When Choosing an Online Casino Without Cruks?

It’s vital to ensure that the casino without Cruks has a license from somewhere. Also, check that they offer fair games, don’t have serious complaints, and have reasonable terms and conditions.

What Are the Advantages of Playing at an Online Casino Without Cruks?

When you gamble outside Cruks, you have control over when and how long you request an exclusion. A Cruks casino can decide you might have an addiction and list you, preventing you from gambling anywhere in the Netherlands for at least six months.

What Payment Methods are Accepted at Online Casinos Without Cruks?

Since an online casino without Cruks doesn’t have a Dutch gambling license, they shouldn’t let you deposit with iDEAL, but sometimes they do. OnlineCasinosSpelen recommends Astropay and Volt as reliable payment methods. Additionally, some gambling sites accept cryptocurrency deposits.

What is a cryptocurrency casino that is becoming popular in Japan?

https://en.cryptonomist.ch/2024/01/22/what-is-cryptocurrency-casino-popular-japan/

Crypto casinos, which are becoming popular in Japan, are online casinos that allow players to gamble using cryptocurrencies instead of actual FIAT, Yen, or dollars. These casinos accept virtual currencies, primarily Bitcoin and Ethereum, rather than traditional currencies.

Why Are Crypto Casinos Users Increasing in Japan?

There are several reasons why the number of crypto casino users is increasing in Japan.

Cryptocurrency allows players to remain anonymous, as they do not have to provide any personal information. This lowers the risk of personal information being leaked and allows players to feel that their privacy is protected. The unique Japanese character, with its emphasis on safety, may also be a good match for the use of cryptocurrency.

Cryptocurrencies typically offer faster deposits and withdrawals than bank transactions or credit cards. Players can initiate bets and withdraw winnings quickly, increasing convenience. Since credit cards are not accepted for online casino withdrawals in Japan, more and more people are finding the convenience of cryptocurrency.

Furthermore, while casino gambling is restricted in Japan, cryptocurrencies allow access to foreign online casinos, allowing players to enjoy many games. This is a huge advantage, and cryptocurrencies are the best payment method for enjoying casino games that cannot be enjoyed domestically.

Some players in Japan may not like to gamble with high stakes, and cryptocurrency allows them to enjoy gambling with small amounts. This is another reason why a wide segment of the population participates in cryptocurrencies.

Online Casinos Receive Bonuses with Cryptocurrency

Some online casino sites offer bonuses in cryptocurrency to players who deposit in cryptocurrency. This is a promotion specific to casinos that accept virtual currency; for example, you may receive a percentage of your deposit as a cryptocurrency bonus.

Some casinos may offer free spins for cryptocurrency deposits. This allows you to play slot games for free.

Special crypto promotions are also popular in Japan. Some casinos may offer special promotions for certain cryptocurrencies. These include tournaments and raffles.

However, only a few casinos still offer bonuses in cryptocurrency, and bonuses in other currencies such as other yen or dollars are the most common. When using cryptocurrency, it is important for players to carefully review the casino’s terms and conditions and understand the conditions and requirements of the bonuses offered. It is also important to choose a reliable casino. Of course you should choose a secure cryptocurrency exchange as well.

Taxes on profits made at crypto casinos.

In Japan, online casino taxes are generally due when you earn over 500,000 yen. However, different payment methods require different types of taxes. If you use Bitcoin or other cryptocurrency at an online casino, the rule is that you must pay taxes when you earn more than 200,000 yen.

  • Legal tender and cryptocurrency tax amounts are different.
  • If the price rises and a profit is made when it is pending in your account, that portion is not taxable.
  • it becomes taxable when a transaction such as a purchase, sale, or redemption is made.

This may seem a little complicated, but you don’t need to worry about it because you will just file your taxes as usual. Nowadays, more and more businesses are using cryptocurrency, and the procedure for filing is very carefully informed. You can also refer to Cryptocurrency Taxes or more information from this Online casino in Japan site.

The Best Dapp Browsers for Android and iOS Devices

https://en.cryptonomist.ch/2024/01/22/best-dapp-browsers-android-ios-devices/

We live in an age of many web browsers. The poly-browser era, if you will. While most of these serve as general purpose internet browsers, some are engineered for accessing a specific part of the web. That’s certainly the case with dapp browsers, the means by which decentralized applications can be reached.

Both Android and Apple users are well served by an array of dapp browsers, many of which are incorporated into crypto wallet apps. These make it easy to not only store digital assets, but to make use of them as well, be it exploring the opportunities for yield within DeFi or minting NFTs from your favorite digital artists.

The best dapp browsers not only provide access to a curated list of popular dapps: they do so in a manner that is frictionless, making web3 as easy to navigate as web2. If you’re intent on accessing blockchain protocols while on the go, consider one of the following dapp browsers.

Core

Core is an excellent mobile wallet when it comes to onboarding, its seedless design simplifying getting started, with support for social logins such as Google or Apple. The user-friendly design is also a plus, making web3 feel intuitive, even to first-time users who are more accustomed to web2. But it’s the built-in dapp browser with support for more than 300 decentralized applications that makes Core so essential.

Avalanche, Bitcoin, Ethereum, and all EVM-compatible blockchains are supported and there’s integrated bridging, making it easy to move your assets to where the greatest opportunities lie. Core makes use of Avalanche’s low latency and fees while providing wider connectivity to Bitcoin and other chains including dapps, NFTs, Subnets, and Layer 2 networks. As such, it’s a good-all rounder for dapp browsing and interaction.

OKX Wallet

OKX is a non-custodial wallet developed by OKX exchange. It’s available for mobile and, once installed, will allow you to connect to OKX NFT Marketplace, discover DeFi, and connect to dapps. As an all-in-one wallet and trading app, OKX Wallet can also be used to trade digital assets on OKX exchange.

But it’s the built-in dapp browser that elevates OKX Wallet into a powerful tool for tapping into web3. OKX Wallet provides access to thousands of DeFi and GameFi experiences. This includes the ability to connect to DeFi protocols such as Aave, Uniswap, and Axie Infinity. You can also use OKX to interact with DAOs and participate in onchain governance, making it a good all-rounder for experiencing the best opportunities to be found onchain.

MetaMask

Crypto’s most popular web wallet for web3 is also available for iOS and Android and the MetaMask mobile wallet acquits itself well. In fact there’s a case for saying that MetaMask’s mobile wallet is superior to its web one. The mobile version includes a fiat onramp, available in over 190 countries, and it also syncs with the web version, making it possible to import an existing account into the mobile app.

To explore dapps within the MetaMask app, just enter the URL into the built-in browser. As MetaMask explains, its dapp browser contains less features than a conventional web browser but “if you’re trying to mint an NFT on the go, or check out a new web3 project that you might want to spend some time on later, it’s just the right solution.”

Opera

Opera was the first web browser to include a crypto wallet, and it’s maintained its commitment to web3 by incorporating a dapp browser for connecting to popular decentralized applications. The fact that Opera is a browser developer by trade, and as such devotes significant effort to optimizing the entire web browsing experience, makes its dapp browser feel smooth and seamless.

Opera provides connectivity to EVM chains, Bitcoin, Solana, and much more. There’s support for leading NFT marketplaces and there are also integrated swaps. As a result, you don’t even need to enter the URL for a DEX to trade between tokens. Support for crypto domains such as ENS and Fio, coupled with a nice portfolio manager, make this an excellent browser for both the centralized and decentralized web.

MyEtherWallet

MyEtherWallet, better known as MEW, is one of the oldest and most trusted Ethereum wallets. The mobile version of MEW is every bit as good as the original desktop build. There’s naturally support for all ERC20 tokens, but the dapp browser is where MyEtherWallet excels. One of its best features is phishing detection, providing an alert before you interact with a suspicious smart contract.

You can create multiple accounts and manage them within the one app and the portfolio checker shows not only fungible tokens, but also NFTs. MEW’s only major drawback is that it’s Ethereum only. While the bulk of all DeFi activity centers around Ethereum, support for other EVM and non-EVM chains would earn MEW rave reviews.

Do It All With a Dapp Browser

The smartphone is the one device that accompanies us everywhere. And a wallet or browser application that supports web3 is the only app you need to explore a world of dapps. Select a good dapp browser and there’s very little that can be done on desktop that you can’t do on your phone, whether that’s trading, gaming, or SoFi. 

For user experience coupled with the number and quality of dapps supported, Core emerges with top marks. Closely following behind is MetaMask, while Opera is a good option for those who want a web browser first and dapp explorer second. 

Digital Chips: The Crypto Advantage in Modern Online Casino Gaming

https://en.cryptonomist.ch/2024/01/03/digital-chips-crypto-advantage-modern-online-casino-gaming/

The online casino gaming landscape has undergone a transformative shift with the integration of cryptocurrency. As digital currencies like Bitcoin and Ethereum gain mainstream acceptance, they are increasingly becoming the preferred choice for transactions in the online gambling industry.

 Keep reading to understand the crypto advantage in modern online casino gaming. 

  1. Security and Anonymity

One of the primary advantages of using cryptocurrencies in online casino gaming is the enhanced security and anonymity they offer. Traditional payment methods often require users to share sensitive personal and financial information, exposing them to potential risks. It leaves them susceptible to identity theft and fraud. 

On the other hand, cryptocurrencies operate on a decentralized and secure blockchain, ensuring that user data is protected. Additionally, transactions made with cryptocurrencies are pseudonymous, providing users with a level of privacy not afforded by traditional payment methods.

  1. Swift and Borderless Transactions

Cryptocurrencies facilitate near-instantaneous transactions, eliminating the delays associated with traditional banking methods. This swift transaction process is particularly advantageous in crash gambling sites, where timely deposits and withdrawals are crucial. 

Furthermore, cryptocurrencies are not bound by geographical borders. They allow players from around the world to participate in online gambling without the constraints imposed by traditional financial systems.

  1. Reduced Transaction Costs

Traditional payment methods often involve intermediary banks and payment processors. This results in transaction fees that can add up over time. Cryptocurrencies operate on decentralized networks, minimizing the need for intermediaries and substantially reducing transaction costs. 

This cost-effectiveness benefits both online casinos and players, as it supports more competitive payout rates and bonuses.

  1. Accessibility and Financial Inclusion

Cryptocurrencies have the potential to foster financial inclusion in regions where traditional banking services are limited. As long as players have access to the internet, they can participate in online casino gaming using cryptocurrencies. They don’t have to rely on traditional banking infrastructure. 

This increased accessibility opens up new avenues for players who may have been excluded from the online gambling ecosystem due to banking constraints.

  1. Smart Contracts and Provably Fair Gaming

Blockchain technology, the underlying foundation of most cryptocurrencies, introduces the concept of smart contracts. These self-executing contracts automatically enforce and verify the terms of an agreement when predefined conditions are met.

 In online casinos, smart contracts can be used to ensure fair and transparent gaming experiences. Some platforms leverage blockchain to enable provably fair gaming. They allow players to independently verify the fairness of each game’s outcome.

  1. Loyalty Programs and Incentives

The use of cryptocurrencies in online casino gaming has paved the way for innovative loyalty programs and incentives. Traditional loyalty programs often involve complex point systems and restrictions. 

With cryptocurrencies, however, casinos can create transparent and automated reward structures such as the Bitcoin casino bonus which is available to Bitcoin users.  Cryptocurrencies allow for the seamless implementation of loyalty tokens or coins. They provide players with immediate access to rewards, bonuses, and exclusive promotions.

  1. Decentralized Platforms and Governance

Blockchain technology enables the development of decentralized online casino platforms, where governance and decision-making processes are distributed among the community.

 Decentralized casinos operate without a central authority, and their rules and operations are often governed by smart contracts. 

This decentralized approach can enhance transparency and trust, mitigating concerns about the fairness of games and ensuring that the community has a say in the platform’s development.

  1. Global Regulatory Compliance

The online gambling industry faces varying regulatory landscapes worldwide. This makes it difficult for operators and players to navigate compliance requirements. Cryptocurrencies, however, offer the potential for streamlined regulatory compliance. 

Online casinos can automate compliance checks through the use of blockchain technology and smart contracts. This ensures that players meet the necessary legal requirements. It enhances the overall integrity of the gaming ecosystem.

  1. Cross-Border Transactions and Microtransactions

Cryptocurrencies provide a solution to the challenges associated with cross-border transactions in traditional online casino gaming. The elimination of currency conversion fees and the ability to conduct transactions in a universally accepted digital currency make cross-border gaming more accessible and cost-effective. 

Additionally, cryptocurrencies facilitate microtransactions, allowing players to engage in smaller bets and explore wider varieties of games without high transaction fees.

  1. Technological Innovation and Integration

The adoption of cryptocurrencies in online casino gaming has spurred technological innovation within the industry. Casinos are exploring blockchain-based solutions to enhance player verification, game fairness, and the overall gaming experience. 

The integration of cutting-edge technologies, such as virtual reality (VR) and augmented reality (AR), with cryptocurrency-powered platforms opens up new possibilities for immersive and engaging online casino experiences.

  1. Community Engagement and Social Gambling

Cryptocurrencies enhance community engagement within online casino platforms. With the implementation of blockchain-based social features, players can interact, share experiences, and even participate in collaborative gaming ventures. 

Cryptocurrencies also facilitate the creation of community-driven projects and decentralized applications (DApps) that can enhance the social aspects of online gambling. This community-centric approach can lead to a more engaging and enjoyable gaming environment.

  1. Risk Mitigation and Player Control

The use of cryptocurrencies in online casino gaming empowers players with greater control over their funds and transactions. Crypto wallets and blockchain technology give players real-time visibility into their transaction history and balances. 

This transparency reduces the risk of fraudulent activities and enhances trust between players and operators. Additionally, the decentralized nature of cryptocurrencies minimizes the risk of a single point of failure, making the overall gaming ecosystem more resilient.

Challenges and Considerations

While cryptocurrencies offer numerous advantages in online casino gaming, they also pose certain challenges. Price volatility, regulatory uncertainties, and the potential for misuse in illegal activities are aspects that need careful attention. 

Additionally, user education on the proper use and storage of cryptocurrencies is crucial to mitigate the risk of loss or theft.

In conclusion, the integration of cryptocurrencies in modern online casino gaming represents a significant step toward a more secure, efficient, and inclusive gambling experience. 

As the industry continues to evolve, it will be fascinating to observe how cryptocurrencies further influence and enhance the dynamics of online casino gaming.

8 Best Crypto To Watch 2024

https://en.cryptonomist.ch/2023/11/30/8-best-crypto-watch-2024/

The crypto market has seen a resurgence in the past two months, meaning keeping an eye on the most promising coins has become crucial for investors.

Our list of the best cryptocurrencies to watch in 2024 offers a comprehensive overview of tokens with outstanding potential and innovative features, which could help them produce significant returns next year.

1. Bitcoin ETF Token (BTCETF)

The first crypto investors may wish to watch is Bitcoin ETF Token (BTCETF), which aims to benefit from spot BTC ETF approval in the US.

BTCETF’s unique approach of burning tokens with each milestone towards ETF approval could significantly drive up its value due to its deflationary effects.

The high anticipation for a spot Bitcoin ETF, as noted by analysts at JPMorgan, enhances the potential for BTCETF’s value to rise simultaneously with the market’s growth.

Furthermore, the project’s appealing staking yields of 121% per year could attract more investors, boosting its price.

Investors can buy BTCETF through the ongoing presale for just $0.006 during the current stage.

Visit Bitcoin ETF Token Presale

2. Meme Kombat (MK)

Next up is Meme Kombat (MK), which stands out with its combination of gaming, GambleFi, and staking.

Meme Kombat offers staking yields of 389% APY and scope for users to earn more MK by predicting the winners of AI-powered meme battles.

The project’s tokenomics are designed for long-term potential, with 50% of the MK supply reserved for early presale backers.

Over $2.2 million has been raised through Meme Kombat’s presale, and prominent crypto influencers like Crypto Tony have even endorsed the project.

MK tokens are currently on offer for $0.214 during the presale, although this price is only available for a limited time before increasing.

Visit Meme Kombat Presale

3. TG.Casino (TGC)

TG.Casino (TGC) is another appealing presale project attracting attention due to its unique position within the GambleFi space.

The project integrates cryptocurrency with online gambling without needing KYC, offering anonymity and ease of access.

TG.Casino’s massive selection of games, combined with the 25% cashback on losses and staking yields of 185% APY, could drive substantial user growth in 2024.

Any growth in users will likely have a positive effect on TG.Casino’s native TGC token which is set to be listed on exchanges once the project’s presale has ended.

TG.Casino’s presale has raised over $3.1 million so far and currently offers TGC tokens at the low price of $0.17.

Visit TG.Casino Presale

4. Bitcoin Minetrix (BTCMTX)

Bitcoin Minetrix (BTCMTX) is an Ethereum-based project that offers an innovative stake-to-mine feature, which could be in high demand with the upcoming Bitcoin halving in 2024.

This timely innovation could attract investors seeking to benefit from mining despite the reduced block rewards post-halving.

Bitcoin Minetrix’s stake-to-mine mechanism effectively reduces the barriers to entry for miners, allowing anyone to earn recurring BTC rewards.

Additionally, the planned exchange listings post-presale for the BTCMTX token could boost liquidity and accessibility, often leading to a price surge.

Early investors can buy BTCMTX tokens for $0.0119 through the presale, which has now raised over $4.5 million.

Visit Bitcoin Minetrix Presale

5. IOTA (IOTA)

IOTA is another crypto that investors may wish to watch next year due to its unique Tangle technology.

This technology offers enormous scalability and efficiency, setting it apart from traditional blockchain-based networks.

Moreover, its feeless transaction system and adaptability to low-energy devices make it highly suitable for various applications.

With the Internet of Things sector growing rapidly, IOTA could be poised for further growth in 2024.

6. Bitcoin (BTC)

Investors may wish to watch Bitcoin (BTC) in the weeks and months ahead, mainly due to the anticipated halving event likely to occur in April 2024.

This event will reduce block rewards – increasing scarcity and potentially boosting Bitcoin’s value.

Additionally, the potential approval of a spot BTC ETF could attract mainstream investors, enhancing Bitcoin’s credibility as a financial asset.

Standard Chartered Bank has even predicted that Bitcoin could reach $100,000 by the end of 2024, suggesting the coin has significant potential in the next 12 months.

7. Avalanche (AVAX)

Avalanche (AVAX) is another high-potential crypto that stands out due to its high transaction speeds, low fees, and eco-friendly approach.

The fact that Avalanche can handle thousands of transactions per second with a high degree of decentralization has made it a desirable option for DApp developers.

AVAX has also been on a tear lately, rising from $8.66 in October to its current price of $21.00 – a 142% increase.

With many analysts providing optimistic price predictions for next year, Avalanche could be another crypto worth monitoring.

8. Chainlink (LINK)

Lastly, Chainlink (LINK) is an oracle network that can securely link external data sources to blockchains in a decentralized way.

This service has become increasingly crucial, positioning Chainlink as a critical player in the blockchain ecosystem.

As areas such as DeFi continue to grow, Chainlink’s LINK token will likely benefit from a wave of buying demand.

This demand is already evidenced by LINK’s value soaring 154% since October, making it another crypto that could be primed for a fruitful 2024.

Metaverse: Daoversal and the three trends for the future

https://en.cryptonomist.ch/2023/11/20/metaverse-daoversal-three-trends-future/

The metaverse, an expanding frontier of Web 3.0, is experiencing a period of unprecedented innovation. Daoversal, a leading player in this field, is actively contributing to this progress. One example of their commitment is their participation in the important event Crypto Expo Milan 2023, scheduled for 24 and 25 November in Milan.

Advanced Immersive Technologies

Immersive technologies represent the core of the evolution of the metaverse. With the virtual reality (VR) market valued at $59.96 billion in 2022 and a projected annual growth rate of 27.5%, these technologies are revolutionizing the experience of virtual environments, making them increasingly realistic and immersive. This aspect not only enhances the user experience, but also opens new frontiers in terms of practical applications, from education to entertainment to the corporate sector.

Virtual Economy and Cryptocurrencies

Another key aspect of the metaverse is the virtual economy, powered by cryptocurrencies and non-fungible tokens (NFTs). The metaverse market is expanding rapidly, with forecasts seeing it reach $82 billion by 2023 and projections reaching up to $936.6 billion by 2030. This exponential growth signals a promising future for virtual economies, characterized by greater integration between the real and virtual worlds, offering new opportunities for investment, commerce, and value creation.

Community and Social Networking

The metaverse is also transforming the way we interact socially. Daoversal is leveraging this trend to build an active and engaged community. Their Discord channel, for example, witnesses how they are developing meaningful relationships and connections, creating a space for the exchange of ideas and collaboration. With the social networking market in the metaverse estimated at $416.02 billion by 2023, these platforms are becoming key elements of the metaverse experience, enabling users to interact in increasingly immersive and engaging ways.

Innovations in the metaverse are clearly driven by three main pillars: immersive technologies, virtual economies, and social communities. DAOversal, with its participation in the Crypto Expo Milan 2023 event, not only highlights its commitment to these trends, but also positions itself as an influential leader in the future of Web 3.0. This event represents a unique opportunity for DAOversal to demonstrate its innovations, collaborate with other key players in the industry, and actively contribute to shaping the future of the metaverse, an environment that promises to reshape the digital and social landscape in the coming years.

For data on the virtual reality (VR) market:

For metaverse market data:

Lugano Finance Forum: Focus on Asset Management and ESG

https://en.cryptonomist.ch/2023/11/15/lugano-finance-forum-focus-asset-management-esg-2/

PRESS RELEASE

The key appointment for all finance professionals, now in its 12th edition, is just around the corner. A key event that will see the participation of the main Asset Management companies, and that represents a unique opportunity for updating, as well as networking, for all Ticino operators.

Many topics will be brought to attention in this engaging day, we highlight in particular:

ESG Session: devoted entirely to the growing importance of ESG criteria in investment decisions. This session will offer unique and insightful perspectives on how to consider environmental, social and governance in asset management processes. The morning will be coordinated by the Association’s ESG Center of Excellence.

Shape Equity, a U.S. company and main partner of this edition of the Forum, will then explore the integration of ESG criteria in real estate investing, bringing a comprehensive view on this specific topic to all present. 

Withholding Tax Reclaim: a technical topic that requires special attention but promises truly significant results.  Aequitax, a Swiss company and market leader in Italy, will explain tax reclaim strategies and opportunities. 

There will be no shortage of interesting insights on Venture Capital, Thematic Investments, Trading, and even Shipping, just as crucial topics such as Fintech and Blockchain and how these will be able to influence the financial world will certainly not be overlooked.

Finally, new this year, LFF will host the first edition of “Play & Comply,” an event curated by SGR Compliance, focusing on compliance related to the world of gambling and gaming. The event will take place in a dedicated room and will last all day.

Date: 21 November

Time: 9:00 AM – 6:00 PM 

Location: Lugano, Palazzo dei Congressi (Piazza Indipendenza, 4)

For more information: https://finlantern.com/financeforum/

Registration: https://finlantern.com/financeforum/tickets/

The UK and Solana’s Superteam shine at the Global Hyperdrive Hackathon with 6 track winners and the Grand Champion coming from UK teams!

https://en.cryptonomist.ch/2023/11/09/solana-superteam-global-hyperdrive-hackathon/

PRESS RELEASE

London, UK / November 7, 2023

SuperteamUK is a collective of supercharged developers, shining creatives and master operators based in the UK, with a wealth of hands-on experience in launching and scaling web3, crypto and other technology-enabled businesses. As a sub-sect of the global Superteam co-operative, SuperteamUK has supported the UK’s Solana ecosystem builders to develop their projects, drive growth and achieve success.

The Superteam ecosystem has been laser focused on Solana’s Hyperdrive Hackathon over the last few months; a Global competition for Solana’s network of builders, creators and leaders to build a team and create their project around a specific category (or Track), ranging from Artificial Intelligence to Physical Infrastructure Networks. The Hyperdrive Hackathon had a total prize pool of over $1m across the 7 tracks, alongside significant additional support and benefits for winning projects.

As a support network, SuperteamUK has focused on 5 key value propositions to build an engaged community and help them to achieve their goals of becoming successful projects in the Solana ecosystem;

  • Talent & Build Support
  • Distribution & Marketing
  • Funding
  • Partnerships
  • Events

Stephen ‘Cap’ Newnham, the UK lead at Solana, was instrumental in the roll-out of SuperteamUK, creating and launching the brand in June 2023 with the support of Flight3 (a full stack marketing & communications agency specialising in Web3 businesses) and building one of the strongest local Solana communities of any Superteam.

He had this to say about the monumental achievements;

“This result is the representation of over 1,000 hours of building from each team. Winners or not, we are beyond proud of the sheer hard work and determination from all the UK teams during Hyperdrive! It’s been an absolute joy to meet and work with a group of such talented and driven web3 entrepreneurs, and Hyperdrive is just the first step in realising the true potential of this incredible community.”

The winners were announced at Solana’s flagship annual event, Breakpoint, in Amsterdam on the 3rd of November to a packed main stage and rapturous applause. With more than 7,000 participants and over 900 project submissions from 25 countries, the competition was incredibly tough and winning entries demonstrated excellence in all areas of judging.

The full list of UK Winners against specific Hyperdrive Tracks is below;

  • Fluxbot – Grand Champion 
  • Wysdom – 1st in Artificial Intelligence
  • Ping – 2nd in Crypto Infrastructure

SuperteamUK and the community of UK builders are ready to take the success of Hyperdrive into the next phase of their journey and continue to add value to the Solana ecosystem, with a powerhouse network of talented developers, innovative thinkers, and passionate creators dedicated to pushing the boundaries of blockchain technology.

Visit SuperteamUK’s Twitter, join their Discord and check out their Substack for more news on what’s coming next.

About Solana 

Solana is a blockchain built for mass adoption. It’s a high performance network that is utilised for a range of use cases, including finance, NFTs, payments, and gaming. Solana operates as a single global state machine and is an open, interoperable and decentralised network.

For more information, please visit https://solana.com

About SuperteamUK

SuperteamUK is a co-operative of creatives, developers, and operators who are experienced in launching and growing technology businesses based in the UK.

For more information, please visit https://uk.superteam.fun/

Flying From Milan To New York, Via The Metaverse And The World Of Nfts

https://en.cryptonomist.ch/2023/11/09/milan-new-york-metaverse-nft/

A journey under the banner of art, creativity, innovation and the discovery of new virtual worlds is what La Compagnie is offering its passengers on Friday, November 10, by hosting on board its flight from Milan to New York the presentation of the book “Crypto Art Begins.” Published by Rizzoli New York and dedicated to the fascinating world of digital art, the book recounts the origins and evolution of this movement through the history and works of 50 of the world’s best crypto artists.

On board the flight will be the volume’s editor, Eleonora Brizi, and creators Andrea Concas and Amelia Tomasicchio, who will be able to answer curiosities and questions from passengers interested in this much-debated art form that has marked recent years with new ideas and innovative models.

Thanks to La Compagnie’s fast connection, then, passengers will have the opportunity to further discover the revolutionary world of digital art by fully immersing themselves in the Metaverse of The Nemesis, in which they will be able to virtually interact with the artists featured in the book and with those who edited and wrote it.

In this virtual space, several live events will take place, starting at 3 p.m. and ending at 8:30 p.m., accessible to anyone interested via the access link.

To commemorate this event, each passenger will also receive an exclusive NFT, a unique digital artwork to add to their collection and useful for access to The NFT Magazine‘s Readers Club.

Finally, the experience will conclude in the Big Apple with the official book presentation in the company of the authors and artists on Saturday, November 11, 2023 at 7 p.m. at SALOTTO, the brand new home of Italian excellence and innovation in arts and design located in Brooklyn.

The experience aims to represent a unique moment, between the physical and the digital, capable of uncovering all the curiosities and peculiarities of the world of crypto art, revealing its interesting evolution in recent years, its complexities, and recounting its expected future developments through a journey from Milan to New York that will not only be a geographical shift, but will represent a real cultural bridge between the two cities and new virtual worlds.

La Compagnie

Launched in July 2014, La Compagnie is a 100% Smart Business Class airline that operates regular scheduled transatlantic flights between New York (Newark International Airport) and Milan (Malpensa), Paris (Paris Orly Airport) and seasonal services to Nice (Nice Côte d’Azur International Airport). With competitive business-class fares, La Compagnie’s fleet of Airbus

A321neo aircraft features 76 seats reclining to a fully horizontal sleeping position and offers dedicated amenities for the most discerning customers including unlimited, free Wi-Fi and a unique dining experience with menus designed by renowned French, American and Italian chefs. For reservations, visit lacompagnie.com, call the airline call center at +39 02 81480361 or contact your trusted travel agency.

CRYPTO ART BEGINS – www.thenftmag.io/cryptoartbegins

The first NFT book chronicling the beginning of crypto art with 50 of the movement’s best artists, published by Rizzoli illustrated for Mondadori Electa and Rizzoli New York.

The volume tells about this exciting movement through the history and works of 50 crypto artists – including HACKATAO, Refik Anadol, Kevin Abosch, Osinachi, Federico Clapis, Giant Swan, DADA.Art – who contributed to the birth and are part with their NFTs – Non-Fungible Tokens – of the present and future of this new world.

Through dialogue with the artists and their works, the visions, aspirations, complexities, as well as limitations of a world that is all in flux and yet to be discovered emerge.

The book “CRYPTO ART – Begins” is available in all bookstores in Europe and the United States and at www.thenftmag.io through NFT.

Exploring the Soaring Popularity of Live Crypto Casinos

https://en.cryptonomist.ch/2023/10/13/soaring-popularity-crypto-casino/

The gambling industry was always the first to adapt to new tech developments and to find ways to provide a new way to play. The same happened with the introduction of cryptocurrency. It allowed for anonymous and fast payments and players started using it as an alternative to traditional currency.

Live casinos are just as popular as they mimic the experience of visiting a casino from the comfort of your own home and mobile device. In this article, we’ll explore the rising popularity of live Bitcoin casinos and try to predict where this trend is going, in the years to come.

What are Crypto Casinos?

Crypto casinos are online gambling sites that use crypto as a payment method. When it comes to the games they provide and the chances of winning, they are the same as with traditional fiat currency.

These casinos also offer tournaments and special events for the high rollers. A crypto casino provides bonuses for both new and loyal players and these come with wagering requirements attached, so you can’t just cash out the bonus and not play.

BTC casinos are increasingly popular with young and tech-savvy players, as they combine the advantages of cryptocurrency with the traditional casino experience.

What are Live Events?

Live events are online casino games that players can play in real-time. It includes all the games that you could otherwise play online and with the same rules. The most popular of such games are poker and blackjack since they allow the players to play as they would if they were actually in a casino.

Live casinos are increasingly popular since they allow players to experience the look and feel of going to a casino while playing at home. With the introduction of VR and AR, such games are starting to replace actually visiting a casino.

Using the Bonuses

BTC casinos offer generous bonuses for new and loyal players. These are also paid in BTC and work just as any bonus paid out in fiat currency would. The bonuses can multiply the deposits you add to your casino account or they can come in the form of a free spin for slots.

Many players find these bonuses to be useful not only as a way to get their foothold in online betting but also as a  way to earn BTC without mining or investing in an exchange. This exciting opportunity attracts new players.

Being Anonymous Online

One of the most important benefits of using BTC casinos comes from the fact that you can bet online without having to reveal your own name or personal data. This is becoming increasingly useful as online privacy occupies more of the player’s time and thinking.

When you’re gambling using traditional fiat currencies, you’re obligated to divulge personal information such as your name or your bank account. With BTC, however, all that is necessary is access to your crypto wallet through an email connected to it.

Fewer Fees

Playing in a crypto casino comes with lower fees for transferring the funds to and from the casino account. That’s because playing with Bitcoin doesn’t require any third party to transfer the funds. All that you win is yours to keep and transfer to your e-wallet right away.

On the other hand, playing with traditional fiat currency requires the player to pay fees when transferring the funds to and from the casino account. This can add up if you’re playing for small amounts and the fees take a big chunk of your winnings.

Having Quick Access to Funds

BTC is easy to store and transfer. The funds you deposit to and from your casino account are yours to use right away.  With traditional currencies, there’s a waiting period and especially so when you’re withdrawing funds from a casino to your own account. Most of the younger players prefer the speed and convenience of using cryptocurrency.

Keep in mind that this feature isn’t always a benefit. Being able to transfer the funds right away may tempt some players to add more funds to their accounts. Chasing your losses is never a good strategy and it’s best to take measures to prevent this from happening.

Making Microtransactions within the Games

Casinos that use cryptocurrencies such as Bitcoin or Ethereum allow the players to make microtransactions within the game. These are automated and safe, meaning that they are tied to a certain outcome of the game. That way the payment only gets made if the set conditions are met.

It provides a way to combine casino games and computer games. Gamification of BTC casinos makes them more interesting and attracts younger players that want a portion of both worlds in their casino experience. It’s also useful for players to learn about odds and payment rates within these in-game features.

Rising Markets Abroad

Cryptocurrencies can be used all over the world. They don’t rely on any centralized national bank. That means that you can use them to bet regardless of where you’re based. It opens up a lot of new markets and allows players to take part in the betting and increase the overall pool of players. It makes the games more interesting and more competitive. Notably, even financial giants like BlackRock are entering the game of crypto and Bitcoin, highlighting the widespread acceptance and potential of these digital assets. 

Some countries still limit access to casinos and some even limit access to particular payment methods (such as digital wallets). Bitcoin and other cryptocurrencies bypass these restrictions and allow everyone to play regardless of regulations.

Fair Outcomes

Live Bitcoin casinos always have fair outcomes. This is because the payment is tied to the code of the blockchain behind the cryptocurrency. It also allows every player to inspect the code and therefore make sure that the game is fair. For those who want to choose a trusted platform, looking at up-to-date Bitcoin casino reviews can be invaluable. Since the game is played online and sometimes in casinos based abroad, this feature keeps everyone honest and guarantees fairness.

The games played in a live Bitcoin casino still have an edge in favor of the house, as all casino games do. It’s therefore essential for players to learn about these and to get into a game based on statistics and firm knowledge of what your chances are. Such information is available in the casino itself and in many other online resources.

Communal Experience of Live Casinos

 Live casinos have the added benefit of being played in real time and against real players. This is one of the reasons so many players are using these casinos. It provides a communal experience allowing players to talk to each other and react to the gameplay as it happens.

This somewhat mimics the experience of actually visiting a casino and is often more engaging than playing against artificial intelligence. Young players in particular prefer live Bitcon casinos to going to an actual on-the-ground gambling establishment.

Conclusion

Live crypto casinos are becoming very popular and taking over when compared to any other casino. This is because of the many advantages that come with using cryptocurrency as a payment method. It makes payments faster, safer, and more private. All of these features are attracting young players and for many Bitcoins are replacing traditional currencies.

Live games are played in real-time and against real players. This makes the player feel as if they are playing in an actual on-the-ground casino. It’s one of the biggest reasons Bitcoin live casinos are so well-liked.

Elon Musk’s X Gains Multi-State Payment Processing, Including Crypto Transactions

https://en.cryptonomist.ch/2023/09/11/elon-musk-x-gains-multi-state-payment-processing/

Elon Musk’s groundbreaking social media enterprise, X, formerly known as Twitter, is making waves in the financial industry by securing money and currency transmitter licenses in no less than seven U.S. states, a list that boasts names like Maryland, New Hampshire, and Rhode Island.

From Cryptocurrency Teasers to Full-Stack Payment Services: X’s Vision Unveiled

In a remarkable strategic move, X, under the visionary leadership of Elon Musk, has successfully acquired payment licenses across several U.S. states in recent months. Notably, this includes securing a coveted currency transmitter license in the state of Rhode Island, a development that unfolded just this week. Beyond being a mere regulatory formality, these licenses have far-reaching implications, potentially unlocking a wide array of payment services, including the intriguing realm of online casinos.

Elon Musk, never one to shy away from technological innovation, has teased the integration of cryptocurrency into the X platform. This tantalizing glimpse into the future was showcased briefly when Twitter’s iconic bird logo was momentarily swapped out for the playful visage of Dogecoin’s mascot before the platform’s transformation into X last month. These recently obtained licenses are not just about facilitating crypto transactions; they pave the way for an expansive suite of payment services.

The Regulatory Landscape: Facilitating More Than Just Crypto

The vision for X goes far beyond the confines of traditional social media. Musk envisions it as an “everything app,” and the acquisition of money transmitter licenses since June from states including Arizona, Maryland, Georgia, Michigan, Missouri, and New Hampshire strongly suggests that the tech mogul has ambitions of establishing nationwide payment processing capabilities akin to industry giants like Venmo or PayPal— a company he famously co-founded. Interestingly, the Rhode Island license, while crucial for facilitating standard payments, also serves as a prerequisite for offering crypto-related services, such as those found in the burgeoning world of online casinos.

X’s Impact on the Future of Finance

In a prescient statement made via text message just days prior to his sensational $43 billion Twitter acquisition bid in April 2022, Musk articulated his belief that a new breed of social media platform underpinned by blockchain technology, seamlessly integrated with payment functionalities, was the need of the hour.

To shed light on the specific regulatory requirements in Rhode Island, the Department of Business Regulation (DBR) has crafted a detailed FAQ. Within it, they elucidate that entities seeking approval for currency transmission must encompass those transmitting funds on behalf of their customers, encompassing traditional wire transfers à la Western Union and digital equivalents like PayPal. Notably, the same license that facilitates payments is a sine qua non for conducting crypto exchanges and safeguarding digital assets. Nevertheless, there is a caveat in favor of fintech companies, permitting them to be designated as a “true agent” of the Rhode Island-licensed currency transmitter under exceptional circumstances. This exception allows fintechs to operate in the crypto sphere as long as money transmission does not constitute their primary profit-generating activity.

It’s crucial to note that these state licenses aren’t tailored exclusively for crypto services but cast a broader net. In the case of New Hampshire, “money transmission” encompasses activities related to the sale or issuance of payment instruments or stored value, as well as the receipt of currency or monetary value for transmission to other locations. Furthermore, the state explicitly classifies an administrator or exchanger dealing in convertible virtual currencies as a money transmitter in accordance with federal regulations. This broad definition underscores the evolving landscape of financial services, embracing the burgeoning world of online casinos and cryptocurrency exchanges.

In summary, Elon Musk’s X, formerly Twitter, has embarked on a transformative journey into the financial sector by securing a spectrum of money and currency transmitter licenses across multiple U.S. states. These licenses not only enable conventional payment processing but also open doors to the dynamic realm of cryptocurrency, including the thriving domain of online casinos. Elon Musk’s vision for an all-encompassing “everything app” appears to be steadily advancing, promising a future where X will play a pivotal role in reshaping the way we interact with both social media and finance.

Bitget launches a collaboration with 3Commas to improve users’ automated trading experience

https://en.cryptonomist.ch/2023/09/09/bitget-3commas-improve-automated-trading-experience/

Bitget is proud to announce a new partnership with 3Commas to help its users exploit the potential and expand their trading strategies with automated bots that never sleep.

Having set the goal of reducing risk and increasing traders’ profits, the project team is committed to creating valuable tools. As an industry-leading platform, 3Commas has earned the trust of over 220,000 traders worldwide, with positive reviews from most users. 3Commas’ innovative trading management platform enables the creation of customised strategies and signals for automated cryptocurrency trading, including long, short, composite (multi-pair) and QFL bots.

About 3Commas

3Commas is an advanced trading platform with trading bots that can optimise strategies in any market conditions, 24/7. With a wide range of tools to manage long and short strategies, DCA, futures and grids, as well as a marketplace of customised signals and user-created bot templates, 3Commas gives a boost to trading skills at a higher level.

Advanced Trading Tools on 3Commas:

● Portfolio Tracking: Monitor and analyze your own portfolios with ease.

● Bot Presets: Start bot trading effortlessly using proven, profitable presets.

● Demo Trading: Test trading strategies risk-free using paper trading accounts.

● Smart Trade Terminal: Access enhanced trading tools for optimal performance.

3Commas Trading Bots:

● DCA Bot: Ideal for dynamic markets with frequent price fluctuations, allowing customization or use of pre-made bots. DCA bots can be configured for Long or Short strategies, as well as for trading Futures or Options if allowed on an exchange.

● Grid Bot: Captures opportunities in sideways markets through small price movements. Grid Bot is an excellent tool for creating profit opportunities from “boring” coins that are bouncing between support and resistance with no breakouts.

To celebrate this partnership, 3Commas users will receive an exclusive welcome bonus from Bitget. Furthermore, during this period, all Bitget users can enjoy free trading on 3Commas. 

For more info, please visit the website here: https://www.bitget.com/en-GB/blog/articles/bitget-partners-with-3commas 

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange with copy trading services. Serving over 20 million users in more than 100 countries and regions, Bitget is committed to helping users trade smarter by providing a secure, one-stop trading solution. The exchange seeks to inspire individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official esports events organizer PGL.

For more information, visit: Website | Twitter | Telegram | LinkedIn |Discord

Bitget Forms Unparalleled Institutional-Grade Digital Asset Data Access with CCData

https://en.cryptonomist.ch/2023/08/31/bitget-announces-strategic-integration-ccdata/

Bitget, the leading crypto derivatives and copy tradingplatform, is excited to announce its strategic integration with CCData, the leading provider of institutional-grade digital asset data. This collaboration propels Bitget’s commitment to excellence by delivering comprehensive data solutions tailored for institutional investors.

As institutional interest in digital assets continues to rise, market data integrity and accuracy become paramount. In response to the growing demands of this sector, Bitget now gives institutional investors access to both real-time and historical market data, powered by a FCA-authorised and licensed provider.

CCData stands as a cornerstone of trust within the institutional data sector, celebrated for its expansive coverage and industry-leading data products. This partnership empowers Bitget users by granting them seamless access to CCData’s robust data infrastructure, linked with reputable financial data providers, including the esteemed LSEG Data (formerly Refinitiv). This integration bestows Bitget users with insights gleaned from institutional-grade data, thereby amplifying the efficacy of their trading operations.

Beyond the enhanced data exposure, the Bitget-CCData collaboration strategically aligns with numerous application programming interfaces (APIs). This connectivity not only bolsters Bitget’s institutional reach but also facilitates exposure across a diverse array of financial data sources, products and platforms. Through this integration, Bitget users can unlock extensive data insights, refining their market analysis and empowering nimble investment decisions.

Gracy Chen, Managing Director of Bitget, highlighted the partnership’s significance for users:

“Our partnership with CCData heralds a new era of institutional-grade data exposure for our users. This venture not only amplifies our platform’s capabilities but also endows our users with a competitive edge within the dynamic digital asset landscape. Armed with premium data and API connectivity, Bitget users are primed to seize institutional-level opportunities and optimize their investment strategies.”

“As the digital asset sector continues to grow, it is paramount that market participants have access to high-quality trading platforms and reliable digital asset data. The integration of Bitget into CCData’s robust data infrastructure not only expands our industry-leading coverage of digital asset exchanges, but also allows market participants to seamlessly access and incorporate accurate, actionable digital asset data into their trading decisions,” 

stated Charles Hayter, CEO and Co-Founder of CCData.

This symbiotic collaboration epitomizes Bitget’s unwavering commitment to delivering top-tier services to its institutional clientele. By harnessing CCData’s robust infrastructure and expansive network, Bitget aspires to ascend as the go-to platform for institutional investors seeking an unmatched digital asset market experience.

The integration of CCData’s tools is directed towards enhancing the array of Bitget’s existing products tailored for institutional investors, encompassing solutions for off-exchange settlement and asset custody.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange with copy trading services. Serving over 20 million users in more than 100 countries and regions, Bitget is committed to helping users trade smarter by providing a secure, one-stop trading solution. The exchange seeks to inspire individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official esports events organizer PGL.

For more information, visit: Website | Twitter | Telegram | LinkedIn |Discord

About CCData

CCData is an FCA-authorised benchmark administrator and global leader in digital asset data, providing institutional-grade digital asset data and settlement indices. By aggregating and analysing tick data from globally recognised exchanges and seamlessly integrating multiple datasets, CCData provides a comprehensive and granular overview of the market across trade, derivatives, order book, historical, social and blockchain data.

For more information, please visit https://ccdata.io

How To Stay Safe Trading Crypto

https://en.cryptonomist.ch/2023/08/28/stay-safe-trading-crypto/

The cryptocurrency world has revolutionized the financial landscape, offering unprecedented opportunities for trading, investment, and financial growth all over the world. However, this rapidly evolving industry also comes with its fair share of risks and challenges, making it crucial for traders to prioritize safety and security. This article looks into the essential steps to stay safe while trading crypto.

Education is Key

Before trading cryptocurrency, you must understand the technology, market trends, and trading strategies. Without adequate knowledge, you’re more likely to fall prey to scams or make poor trading decisions. Invest time in studying reputable educational resources, attending webinars, and staying updated with the latest news and developments in the crypto space.

Choose Reputable Exchanges

Selecting a reliable cryptocurrency exchange is one of the most critical decisions you’ll make as a trader. For example, with reports of Bitcoin price soaring in the coming months, go for exchanges with a proven track record, strong security measures, and positive user reviews. Research the exchange’s security practices, such as two-factor authentication (2FA), cold storage of funds, and regular security audits. 

Beware of Phishing Attacks

Phishing attacks are a common threat in crypto space. Scammers often create fake websites or send malicious emails that mimic legitimate platforms to trick users into divulging their private information. Always double-check the URL of your website, avoid clicking on suspicious links, and be cautious of unsolicited emails asking for personal information.

Implement Strong Security Measures

Protecting your trading account should be a top priority. Utilize robust security practices such as setting up strong, unique passwords for each platform you use, enabling 2FA wherever possible, and avoiding sharing sensitive information through unsecured channels. Additionally, consider using hardware wallets for added security when storing larger amounts of cryptocurrency. Due to the surge in online gambling in Ontario, Canada, online platforms have unveiled multiple deposit and withdrawal options, including Bitcoin, to cater to the needs of their clients. However, with so many options to choose from, getting a legit platform is crucial, and that is where expert advice is needed. To get first-hand information regarding the best places to play, Maple Casino offers help on the best online casinos in Ontario, including reviews of each. 

Use Cold Wallets for Long-Term Storage

While exchanges provide convenience for trading, they’re not the safest places to store your cryptocurrencies long-term. Cold wallets, such as hardware or paper wallets, provide offline storage far less vulnerable to hacking or online attacks. Transfer your funds to a cold wallet when you’re not actively trading to ensure their security.

Diversify Your Portfolio

Diversification is a crucial principle in investment strategy. Spreading your investments across different cryptocurrencies reduces the impact of a potential loss in any single asset. A diverse portfolio can also help mitigate risks associated with sudden price fluctuations or changes in market sentiment.

Keep Software Updated

Regularly update your trading platform, wallet software, and any security tools you use. Developers frequently release updates to address vulnerabilities and improve the overall security of their products. Ignoring updates could expose your trading activities to unnecessary risks.

Be Cautious with Public Wi-Fi

Avoid trading on public Wi-Fi networks, as they are often less secure and more susceptible to hacking attempts. If you need to access your trading accounts while on the go, consider using a virtual private network (VPN) to encrypt your connection and protect your data from potential eavesdropping.

Research Before Investing

Due diligence is crucial when considering new investment opportunities within the crypto space. Investigate the project’s background, team members, whitepapers, and community engagement before allocating your funds. Be skeptical of promises of guaranteed returns and projects with vague or unrealistic objectives.

Stay Updated on Security News

The cryptocurrency landscape is ever-evolving, and new security risks emerge regularly. Stay informed about the latest security threats, scams, and best practices by following reputable cryptocurrency news sources, forums, and online communities. This knowledge will help you adapt your security measures to the changing landscape.

Be Wary of Pump and Dump Schemes

Pump and dump schemes involve artificially inflating the price of a cryptocurrency through misleading information or false hype, only for the orchestrators to sell off their holdings at the inflated price, leaving unsuspecting traders with losses. Be cautious of sudden price spikes accompanied by unsubstantiated claims and conduct thorough research before making trading decisions based on such information.

In conclusion, trading cryptocurrency offers immense potential for financial growth but comes with inherent risks that demand careful consideration and proactive security measures. By educating yourself, choosing reputable platforms, implementing robust security practices, and staying vigilant against emerging threats, you can confidently navigate the crypto trading landscape and reduce the likelihood of falling victim to scams or security breaches. Remember, a well-informed and security-conscious approach is the key to successful and safe crypto trading.

Get Ready for the Coolest Party: Bored Ape Yacht Club at NFT Fest Lugano!

https://en.cryptonomist.ch/2023/08/23/bored-ape-yacht-club-nft-fest-lugano-2/

Lugano, Switzerland – Hey there, get ready for some exciting news! Something super fun is happening at NFT Fest Lugano, and you’re invited to be part of it! The Bored Ape Yacht Club is teaming up with Intraverse and the Bored Ape Council to throw a party that’s going to be absolutely amazing. 

They’re getting some help from a cool company called NOKU and the friendly folks at the city of Lugano too. The best part? This epic event is happening on September 9th, starting at 7 pm and going until 11 pm CET. So, save the date and get ready to have a blast!

Party on a Fancy Boat

Imagine being on a big, fancy boat right in the middle of beautiful Lake Lugano. Well, guess what? The Bored Ape Yacht Club is making this dream come true! They’re hosting this incredible party on a real yacht, which is like a super fancy boat. This yacht will glide on the water, making the whole experience magical and unforgettable.

Play Cool Games: Bored League Game

Now, let’s talk about games. You know those fun video games you like to play? Imagine something even cooler! It’s called the Bored League Game, and it’s going to be a highlight of the party. Picture this: you’ll get to control a special character, just like in your favorite video games. But here’s the twist – these characters are special Apes that represent the awesome people at the party. The best part? The person who plays the best will win an incredible prize – a super cool skateboard that’s all customized!

Helping Others with a Charity Auction

But wait, there’s more! This party isn’t just about having fun, it’s also about doing something really nice for others. Ollie Hills, who’s really good at snowboarding and also a champion, is leading a special event called a charity auction. This means they’ll be selling special things, and the money they collect will go to help kids who could use some extra support. Ollie Hills wants these kids to learn how to skateboard, and that’s a super cool thing to do.

Music, Music, Music

Now, let’s talk about music – the heart and soul of any great party! Guido Corleone, a musician who’s like a rockstar Ape from Los Angeles, is going to be there. He’s going to play some really awesome songs that you’ll love. You might even hear tunes about not clicking on strange links and dealing with fees. And that’s not all! There are more cool musicians like The Miami Ape and Spottie Wi-Fi who are going to make the night even more memorable.

Cool Stuff and Yummy Food

But hold on, there’s a whole lot more to enjoy! Imagine seeing giant floating bananas and amazing pictures projected on the water. And guess what? They’re going to have some seriously yummy Web3 beer and fancy drinks that will make your taste buds dance. You’ll even get to watch some skilled skateboarders doing tricks on the roof of the boat. Don’t worry, though – they’ll be careful not to get into any trouble!

Having a Great Time

The main thing about this party is having a fantastic time. There will be lots of delicious Italian food that’ll make your tummy happy, amazing music that’ll make you dance, and a super cool boat ride around the lake that’ll make you feel like an adventurer. And guess what? Even after the clock strikes 11 pm, the fun won’t stop! There’s an afterparty at a place called the casino, where you can play more fun games and win some really neat stuff.

Don’t Miss Out!

So, here’s the deal: you definitely don’t want to miss out on this fantastic party. It’s going to be a night filled with games, music, yummy food, and memories that you’ll treasure forever. The Bored Ape Yacht Club side event at NFT Fest Lugano is going to be epic! Get ready to have an awesome time, make new friends, and create stories that you’ll tell for years to come!

Like all the Bored Ape events, this event is super exclusive and it is completely token gated, catering specifically to holders of certain NFT collections. If you own NFTs from the following collections, you’re in luck:

  • Bored Ape Yacht Club (BAYC)
  • Mutant Ape Yacht Club (MAYC)
  • Intraverse Galaxy Pass holders 

Get your spot here: https://tokenproof.xyz/events/bored-lugano

How to Play Live Blackjack at Bitcoin Casino – Full Guide

https://en.cryptonomist.ch/2023/08/11/how-play-live-blackjack-bitcoin-casino/

This comprehensive guide on how to play live blackjack with Bitcoin was compiled with the help of experts from Winz casino. Blackjack is considered one of the most popular and easy-to-understand card games in casinos. It has been known for over 400 years and started spreading long before the era of modern crypto platforms, one of which is Winz.io. 

Over time, players have developed the best blackjack strategies to maximize their chances of winning. 

Blackjack is an easy-to-learn and engaging game, making it extremely popular among cryptocurrency players, even with the availability of various slots filled with different bonus games.

Why Play Live Blackjack with Bitcoin?

The main advantages of playing are:

  • No transaction limits. Bitcoin does not involve transaction limits like traditional payment systems, which is especially appealing to high rollers who prefer table games.
  • Anonymity. Banks often restrict financial transactions for gambling, but they won’t be able to know if you purchased cryptocurrency for casino gaming.
  • No time constraints. Playing at a virtual table allows you to take as much time as you need to make decisions. This is a significant advantage of bitcoin blackjack compared to real casino games, where you’re under constant pressure to make quick moves.

This is just a part of why trying casino gaming with Bitcoin is worth it.

Rules of Blackjack

In Bitcoin blackjack wit a live dealer, you play at a table with up to seven players, using one to eight decks of 52 cards each. You can place bets in any cryptocurrency. 

Keep in mind that some casinos may have limits on the amount you can bet per round. The game is played against the dealer, not against other players.

The main goal is to collect a hand with a higher total value of cards than the dealer’s hand, but not exceeding 21.

Card values in the game are as follows:

  • Cards from 2 to 10 correspond to their face value.
  • Jacks, Queens, and Kings are each worth 10 points.
  • The value of an Ace can be 1 or 11. An Ace together with a Jack, Queen, or King forms the best hand in blackjack.

Once bets are placed, the dealer deals cards face up on the table from left to right until each player has two cards. The dealer also receives two cards: one face up and the other face down.

Next, participants are offered the option to take additional cards to improve their hand compared to the dealer’s presumed hand. When it’s your turn, you’ll see various buttons on the screen depending on your hand (hit, double the bet, stand, split, or surrender).

Variations of Blackjack

There are several variants of the game:

  • Classic Blackjack follows the standard set of rules without significant changes.
  • European Blackjack uses two decks. Here, the dealer does not check the final combination until the end of the round.
  • Vegas Strip Blackjack is played with four decks. Players can split cards multiple times and double their bet after splitting Aces.
  • In Double Exposure Blackjack, also played with eight decks, both dealer cards are dealt face up. Double Exposure is one of the worst types of blackjack for players, as the casino’s edge in this game is 0.69%.
  • In Multihand Blackjack, a player can simultaneously play multiple hands against one dealer’s hand.

Take into account the specific rules before playing.

What Blackjack Players Should Avoid

Pay special attention to:

  • Splitting tens. Two tens make the second-best hand in blackjack after 21, so splitting them is not rational.
  • Additional bets or side bets may be offered before the game starts. The casino’s advantage for side bets is higher than in the main blackjack game.
  • Don’t bet more than you can afford. Control your bankroll and avoid making decisions based on emotions.
  • Avoid playing at tables with a shuffle machine. These devices shuffle cards after each round, leading to a higher number of hands per hour, which primarily benefits the casino.

Try to follow these rules for a comfortable gaming experience.

Recommendations for the Game

Play games with more flexible rules. Study the tables to find the most favorable conditions. Play only at tables with a payout ratio of 3 to 2 (and avoid all games where the payout is 6 to 5). Games with one or two decks offer better odds for players than games with six or eight decks.

Learn the basic strategy of the game. Blackjack is not a game of chance; experienced players have proven that there is an optimal way to play each hand dealt to you. 

The basic strategy allows you to minimize the casino’s edge to less than 1% if you use it for every hand.

Use a strategic chart. You can refer to them to ensure that you are making the right decision for each hand and avoid costly mistakes. 

Simply keep the chart handy, and if you are unsure how to play a particular hand, consult it to find the answer. For beginners, the chart can significantly reduce the number of mistakes.

Pay no attention to opponents in the game. Other players’ decisions at the table do not affect your chances of winning. It is not a team game. Do not observe how opponents play their hands. Each player is solely responsible for their own winnings.

Reliable Platforms for Playing Live Blackjack with Bitcoin

Let’s take a look at the most popular establishments that accept Bitcoin for playing blackjack.

Winz.io

Winz.io – the most transparent BTC casino

Winz casino is one of the best online casinos that offers a wide selection of various games, including live blackjack, with cryptocurrencies. Although relatively new, it has experienced significant growth in less than two years of operation, thanks to its professionalism.

The website is easy to navigate and offers over 5000 games. Blackjack enthusiasts can enjoy various blackjack game variations, such as Single Deck, Multihand, Classic Blackjack, Power Blackjack, Speed Blackjack, and more. Deposits and withdrawals in Bitcoin are processed instantly.

Winz.io collaborates with well-known game software studios (NetEnt, Play’n GO, Pragmatic Play, Betsoft, and Evolution Gaming) to provide top-quality software. 

The casino generously rewards players, offering them more opportunities for significant winnings. It is a licensed cryptocurrency gambling site that has received numerous industry awards, further solidifying its reputation as one of the best crypto casinos. 

The website supports multiple languages and is accessible instantly through web browsers or mobile devices.

BitSpinCasino

Try BitSpinCasino with numerous Blackjack options!

BitSpinCasino is a licensed gaming platform that provides a legitimate site with high-quality gaming software and fair bonuses. Here, users can play live blackjack with Bitcoin in various formats and variations. 

These can be divided into two main categories: Live Blackjack and Random Blackjack. All tables with live dealers are streamed directly from Evolution’s live studio.

The platform offers a user-friendly interface and the option for additional personalization. Some well-known games in this segment include Blackjack with Free Bets, Infinite Blackjack, and Power Blackjack. One of the RNG variants allows betting on multiple hands simultaneously, hence the name Multihand Blackjack.

Stake

Playing Blackjack at Stake Casino is a lot of fun

Stake is not a new platform; the casino was established in 2017. Over the years of operation in the highly competitive market, Stake has earned a reputation as an advocate for responsible gaming. The site holds an international gambling license.

Funding gaming sessions is easy with various cryptocurrencies available for use: Dogecoin, Ethereum, Bitcoin Cash, or Tether, as well as Tron and Ripple. By utilizing a random number generator, the casino ensures it does not influence the game outcomes.

Playing blackjack with Bitcoin is possible here, with eleven specially designed variants to choose from. The software developers include Stake Originals, Relax Gaming, Evolution, Pragmatic Play, Play’n GO, and BGaming. Players can enjoy Multi-Hand Blackjack, Pontoon, and even the popular Lightning Blackjack. 

Before loading a game, users can select the cryptocurrency they want to use, including USDT. Live tables for Bitcoin Blackjack are also available, with a minimum bet of $1.

Instant Settlements: Using Crypto Payments to Accelerate Transaction Speeds in the US

https://en.cryptonomist.ch/2023/07/25/crypto-transaction-payments-us/

According to recent market research, more than 50 percent of US businesses now use cryptocurrency to make international payments. It is one of the first concrete indications that crypto really is becoming a mainstream financial tool. There are several reasons for its popularity, and we will look at some of them in a moment, but leading the way is speed. 

Traditionally, if we want to send money to a vendor, he sends an invoice and we arrange a bank wire transfer. That might take a matter of seconds or it could take all of two weeks. It all depends on the where you are, where your vendor is and which banks you are each using. Typically, international payments take longer. They also cost more in fees and the inevitable exchange rate losses.

Crypto transactions are both slower and faster 

Google “crypto transaction speeds” and you will see a whole list of articles bemoaning the slowness of crypto transactions, especially bitcoin. You will read that Bitcoin can only process about seven transactions per second (TPS) whereas banks can perform thousands. Yet the reality is that when you send money as a crypto transaction, it will be practically instant, and will seldom take more than a few minutes.

That is clearly faster than bank wire, so what is going on? The point is that while the wire transfer itself is practically instantaneous, making it happen by taking the funds from your account, performing the currency exchange and depositing in the recipient’s account involves various third parties or “middle men.” That’s why it can end up taking days. Crypto is essentially peer-to-peer, there are no banks involved, so it only takes as long as the transaction itself. 

Following the example of online casino players

It might sound strange, but it was the online gambling community in the US that first got wise to the speed benefits of crypto. One of the frustrations associated with online casinos can be the time it takes to withdraw winnings. If you hit the jackpot in Las Vegas, all you need to do is walk across to the cashier desk, collect your winnings in cash and you can go out and celebrate your good fortune. At an online casino, traditional methods like bank transfers can leave you waiting days, which takes the shine from the experience.

In recent years, Bitcoin has become a transaction method of choice among US online casino players for various reasons that we do not need to go into here. Its popularity is such that practically all US online casino platforms offer Bitcoin as a matter of course – just look through these casino sites reviewed by GamblingSites.com by way of example. Many found the transaction speed to be a nice bonus, and it inevitably got people thinking about using crypto for other transactions and deriving the same benefit. 

Should you worry about TPS?

What we said earlier about Bitcoin’s vastly inferior TPS is something that might cause some concern. Right now, it is unlikely to be an issue, and even when the network usage is at its peak, it will not delay the transaction by more than a matter of minutes. 

Taking a long-term view, however, that TPS figure is the main factor that has some people questioning Bitcoin’s scalability. It is not going to be a problem next week or even next year, but if crypto mass adoption finally happens and it becomes as commonplace as, let’s say, Visa, the Bitcoin network will not be able to cope.

Ultimately, we might find an altcoin surpasses Bitcoin as the cryptocurrency of choice. Ethereum, for example, is already the second most popular cryptocurrency. Ethereum 2.0 will fully launch later this year, and by transitioning from Proof of Work (PoW) to Proof of Stake (PoS), its capability will rise from the current 12 TPS to about 10,000 TPS.

gold and silver round coins

Other altcoins have already addressed this issue. Stellar, Cardano, EOS and Cosmos are just a few examples of popular altcoins that are already operating on a PoS basis and that are capable of processing thousands of transactions per second. So to answer the original question, transaction speed is not something that needs to alarm us now, and there is plenty going on to ensure that it will not be a problem in future either. At worst, we might one day see a mass migration from Bitcoin to a more easily scalable altcoin. 

Other benefits of crypto transactions

We mentioned earlier that speed was found to be an advantage almost by accident. Individuals and businesses are also drawn to crypto for the following reasons: 

  • Transaction costs are negligible, less than a dollar, even if you send millions.
  • Security is second to none, it is not possible to alter records once they are on the blockchain.
  • Every transaction is transparent to all stakeholders. 
  • Despite the transparency, there is also anonymity, as no personal details are recorded.

If you’ve not tried using crypto for financial transactions yet, this could be the perfect time to start doing so.

Bitcoin: Benefits to Look Out For

https://en.cryptonomist.ch/2023/07/20/bitcoin-benefits-to-look-out-for/

Since the introduction of Bitcoin, the first digital cryptocurrency, a lot has changed in the world of crypto. As Bitcoin gradually acquired more acceptance, other cryptocurrencies and exchanges have emerged. Blockchain technology and decentralized currencies entered the mainstream with Bitcoin’s success, and numerous altcoins have since followed, with some of the most famous examples including Ethereum and Litecoin.

A growing number of businesses are using blockchain systems, and some even accept cryptocurrency as payment. Initially, only computer science enthusiasts could make significant contributions, but now, with the complexity of the Bitcoin ecosystem having decreased, everyone can get in on the action. Even you, right now sitting at your computer, can own a fraction of Bitcoin within minutes.

Most of the wealthiest people associated with Bitcoin became so by contributing significantly to the ecosystem surrounding the cryptocurrency. Bitcoin Hodlers benefit from their investment by waiting for the price of Bitcoin to rise before selling. Many successful traders have repeated this process time and time again.

Anonymity

Since no third party is present to either verify or identify, the transaction is completely anonymous. For instance, you can deposit funds into your crypto reels casino without the need to provide any personal details. 

Typically you have to sign up with a business before you can use their online payment system. This results in most electronic payment methods not being completely anonymous. There is no transmission of geolocation data, IP addresses, names, email addresses, or any other personally identifying information. The “Blockchain,” a distributed public ledger, records the transaction but does not keep track of who participated in the exchange.

Decentralized

Bitcoin is not owned or controlled by any central authority. Bitcoin operates its own network of servers, apps, and hardware. It consists of millions of interconnected individuals and organizations continually sharing data with one another.

Dispute Resolution

Bitcoin’s support for multiple signatures might pave the way for brand-new forms of dispute resolution. Using such a service might allow a neutral third party to arbitrate a dispute between two parties without actually handling any of the money involved. These services would be accessible to any Bitcoin user or retailer, which might lead to increased options and lower prices.

Control Against Fraud

Bitcoin enables a degree of safety never seen before. Cryptocurrencies can’t be counterfeited, and the network protects users from chargebacks and other common forms of fraud. 

Wallets can be encrypted and backed up by users. It is extremely difficult to lose or steal money from a hardware wallet. Bitcoin’s underlying architecture places monetary power in the hands of its users.

Donations

Bitcoin has proven to be an effective means of tipping and donating. Donations may be solicited with the display of a QR code, and money can be sent with a single click. 

There will be more openness on the part of charities if donors can see how much money they have given. Donations made in Bitcoin might provide a more rapid worldwide response to situations that require immediate attention, like natural disasters.

Bitcoin Community

There is a growing number of Bitcoin users because the existing Bitcoin community is spreading the word about Bitcoin mining and trading. With the spread of knowledge about Blockchain and cryptocurrencies, they are making enormous strides toward a financially decentralized world. 

6 Reasons Why You Should Invest in Cryptocurrency

https://en.cryptonomist.ch/2023/07/13/importance-investing-cryptocurrency/

Today, cryptocurrency is a revolutionary financial asset class, garnering huge global attention from investors. Digital currencies like Bitcoin, Ethereum, and others have shown immense potential for growth and adoption, making them an attractive investment option. Read and learn why you should consider investing in cryptocurrency.

Read on!

Importance of Investing in Cryptocurrency

There are many reasons why you ought to buy into cryptocurrency. Below are a few of them.

High growth potential

Cryptocurrencies have demonstrated exceptional growth potential over the past decade. The first and most prominent cryptocurrency, Bitcoin, has witnessed meteoric price surges, attracting early investors who reaped substantial profits. 

While past performance does not guarantee future results, the increasing interest from institutional investors and growing mainstream adoption say a lot. It implies that the cryptocurrency market may continue to expand, potentially leading to significant returns on investments.

Diversification benefits

Including cryptocurrencies in your investment portfolio can offer diversification benefits. Cryptocurrencies have had a low correlation with traditional assets such as bonds and stocks. 

Therefore, investing in digital currencies can help reduce overall portfolio risk, providing a hedge against market fluctuations. It is still crucial to maintain a balanced approach. Don’t overexpose yourself to the volatile nature of this market.

Borderless transactions and financial inclusion

Cryptocurrencies break down geographical barriers, allowing for borderless transactions. This feature is very useful for global businesses and individuals that are into international trade.

Moreover, cryptocurrencies can empower the unbanked and underbanked populations by providing them with access to financial services through their smartphones. This financial inclusion can contribute to economic growth in underserved regions.

Innovation and technological advancement

Investing in cryptocurrencies means being a part of the technological revolution. Blockchain technology, which underpins cryptocurrencies, has transformative potential across various industries. 

From supply chain management to healthcare, smart contracts to decentralized finance (DeFi), blockchain is paving the way for numerous innovative applications. By investing in cryptocurrencies, you indirectly support and participate in these advancements.

Limited supply and inflation hedge

Several cryptocurrencies have a fixed supply cap. That’s why they are deflationary by design. The supply is limited and contrasts with fiat currencies. They are always subject to inflationary pressures because of government policies. 

As a result, cryptocurrencies can act as an inflation hedge, preserving the value of your investment over time. This characteristic is particularly appealing in economic uncertainty and volatile global markets.

Easy to access and low entry barriers

Putting your resources into cryptocurrencies is not more accessible to retail investors. With the rise of cryptocurrency exchanges and investment platforms, purchasing and managing digital assets has become relatively straightforward. 

Additionally, fractional investing allows individuals to buy a portion of a cryptocurrency, reducing the barrier to entry for those who cannot afford to buy a whole coin.

Is there any risk in investing in cryptocurrency?

Digital coins are somewhat volatile and could rise and fall at any time. Based on that, it may seem like a high risk investing in digital currencies but the returns has always been amazing.  If you are new, you can reach out to an expert in digital asset custody management to help you plan. Digital coins is the future and it is already giving traditional banking a stiff run.

Conclusion

While investing in cryptocurrencies presents attractive opportunities, it is essential to acknowledge the inherent risks and volatility associated with this asset class. 

Always do thorough research before you invest your money. Determine your appetite towards risk and only invest money you can afford to lose. Cryptocurrencies can offer diversification benefits, technological innovation, and the potential for significant returns. However, prudent and informed decision-making is crucial in navigating this changing market. 

Can Bitcoin reach $1 Million this Decade?

https://en.cryptonomist.ch/2023/06/21/can-bitcoin-reach-1-million-decade/

Bitcoin (BTC). In just over a decade, this leading cryptocurrency has gained a cult-like following. While there’s still some way to go until decentralised currencies are fully integrated into the mainstream, bitcoin has become the most widely known and widely accepted crypto coin. 

The popularity of BTC is such that consumers without even the slightest interest in the cryptocurrency industry can name at least one-use case of the asset. Since the mid-2010s, bitcoin applications have been considerable, with the coin affecting everything from the gaming and casino industries to retail and even identity management. For example, plenty of consumers worldwide are eager to try out bitcoin pokies or play a crypto video game purely because of the novelty. 

In tandem with its rising popularity among consumers, Satoshi Nakamoto’s ground-breaking coin has also undergone meteoric rises in value, as well as subsequent falls. Having hit an all-time high of $68,566.83 in November 2021, BTC’s price then suffered during the crypto crash of 2022. Now, with 2023 well underway, the price of the leading cryptocurrency is starting to climb again, prompting many analysts to speculate on a possible $1 million value before the decade comes to a close. 

In this article, we’ll take a closer look at Bitcoin’s fluctuating value over the past few years, as well as discuss the key factors contributing to a potential price surge. 

The Rise(s) and Fall(s) of Bitcoin

The period between the first “Bitcoin Boom” of 2017 to the subsequent crypto crash in the winter of 2022 bore witness to a number of dramatic ups and downs in the value of the decentralised currency. 

Bitcoin first soared to unprecedented heights in late 2017, when it reached a then record-high value of almost $20,000 in December of that year. Several factors contributed to this surge, including increased media coverage, institutional adoption and retail investor FOMO (fear of missing out). Following that bull run, however, the market was on course to correct, but analysts weren’t prepared for just how low the price of BTC would actually plummet. 

The correction saw Bitcoin sink by over 80%, hovering just below $4,000 for the first time in several years. With regulatory crackdowns and the bursting of the initial coin offering (ICO) bubble contributing to the downturn, there would be a steep hill to climb before the crypto industry could recover. 

From 2019 to the end of the COVID-19 pandemic, a similar pattern would unfurl as the value of the leading cryptocurrency climbed over $10,00 and dropped to below $4,000 again. In late 2020, however, an impressive bull run was on the cards that resulted in BTC surpassing its previous all-time high value. 

Institutional adoption played a crucial role in this rally, as well-known companies like MicroStrategy and Tesla invested large sums in Bitcoin. Additionally, the narrative of the crypto coin being a proper hedge against inflation gaining traction, as well as the weakening US dollar, helped to attract a new wave of retail investors.

But, in a pattern that had played out several times before, 2022 would bring a devastating crypto crash, with bitcoin tumbling to well below $10,000.

Now, in 2023, several signs indicate the coin will be heading once more into a bull run. While it started 2023 at around the $16000 mark, the price of BTC began to speak at the end of Q1, and it has now exceeded the $25,000 valuation. 

$1 Million Bitcoin? 

Like most currencies and commodities, the price of BTC is largely impacted by the forces of supply and demand. The more that Bitcoin is accepted, whether for transactions or as a way to invest or store wealth, the more demand drives up its price. On the other end of the scale, if the popularity of the coin wanes, then so too does its value. 

Since the start of 2023, bitcoin has steadily gained the upper hand over several other major commodity assets. According to Glassnode, the decentralised coin has outperformed gold, silver and crude oil, even displaying a growth rate of 14.5% during Q1. Having surpassed the quarter of a million dollars mark, is Bitcoin now on track to reach a $1 million valuation in the next couple of years? 

According to Read Vision founder and CEO Raoul Pal, the next 24 months will be a crucial period that could see “an enormous wall of money” flow into the top crypto asset; he’s even predicted that it will hit that elusive one-million-dollar valuation by 2025. 

While any price prediction is speculative, and the coin still has a long way to go before it can outperform its earlier highest-ever valuation, several crypto experts are keeping a bullish perspective. One of the major reasons for this is the upcoming halving event in 2024. 

Historically, BTC halving has played a key role in achieving momentum in the market. A bull run is never guaranteed following this four-yearly mining event, but it seems that several “Bitcoin Whales” are positive an upswing will be on the cards if their surge in accumulation is anything to go by.  

Crypto Trading: Risk On vs. Risk Off

https://en.cryptonomist.ch/2023/06/08/crypto-trading-risk-on-risk-off/

In the world of finance and investments, the terms “Risk On” and “Risk Off” are often used to describe the general sentiment or attitude of investors towards the market. These terms can also be applied to the rapidly growing cryptocurrency market. Understanding the meaning of Risk On and Risk Off and their implications in crypto trading can help traders make better decisions and manage their risks more effectively.

Understanding the concepts of Risk On and Risk Off is crucial for traders in the cryptocurrency market, including those trading KuCoin Shares (KCS) or monitoring KCS price. These terms describe the general sentiment or attitude of investors towards the market, and can greatly influence the price movements of various cryptocurrencies.

What Does Risk-on Mean?

Risk-on is the term used to describe a situation that has a positive effect on the financial markets. When it comes to crypto trading, risk-on refers to a situation in which the price of assets, such as stocks and bonds, goes up, which means people are willing to take on more risk. 

There may be a few situations that have an effect on the financial markets as a whole—such as the U.S. Federal Reserve increasing interest rates or investors becoming fearful of an impending recession—which could cause the prices of assets to decrease. But large-scale fluctuations in stock prices are usually caused by small changes in investor sentiment. Risk-seeking is when investors put more money into their investments and risk-off is when they pull out of risky investments.

What Does Risk-off Mean?

The term risk-off, also known as flight to quality, is used in financial markets to describe a situation when investors are more risk averse and prefer to avoid riskier assets such as stocks and commodities. In other words, they prefer safer investments such as government bonds or gold over volatile investments like equities.

Whenever there is an increase in risk aversion among investors, they tend to reduce their exposure to higher risk investments and increase their exposure to lower risk ones. When this happens, the demand for risky assets falls while the demand for safe ones rises. This results in a fall in the value of risky assets such as stocks and a rise in the value of safe ones such as bonds.

What Are Typical “Risk off” Assets?

Government Bonds

Government bonds are considered a safe investment, and they can be a good way to diversify your portfolio. They’re also low risk–the most likely scenario is that you’ll get back what you put in at maturity. This makes government bonds a great option for investors looking for stability in their investments.

Treasury Bonds

Treasury Bonds are government bonds issued by the U.S. Treasury. They’re considered safe investments because they are backed by the full faith and credit of the U.S. government, which has never defaulted on its debt obligations (the only other country to do this is Australia). 

Certificates of Deposit (CDs)

Certificates of Deposit (CDs) are a type of savings account that has a fixed interest rate for a set period of time. CDs can be used to save money for short-term goals, like buying a car or paying off credit card debt.

Money Market Funds

Money market funds are low-risk, low-yield investment vehicles that are typically used by investors to park short-term assets. They have a fixed maturity date and unlike traditional mutual funds, they do not invest in stocks or other securities. Instead, money market funds invest in high-quality debt securities such as Treasury bills and commercial paper issued by large corporations.

Gold

Gold is a hedge against inflation and currency devaluation, but it also acts as a safe haven in times of uncertainty. It has been used as a store of value for thousands of years and is considered one of the most stable stores of wealth, which makes it ideal for those looking to park their money somewhere safe while they wait out turbulent markets.. 

Utility Stocks

Utility stocks are stocks in companies that provide a necessary service such as electricity, water and gas. These companies tend to be less volatile than other stocks because people need electricity to live. For example, if there were no utilities then all electronic devices would stop working and society would stop functioning as we know it.

Examples of Risk On assets

Stocks: Equities are considered risk-on assets as they generally offer higher potential returns but also come with higher volatility and risk[^2^].

Commodities: Investments in commodities like oil, gold, and other natural resources can be risk-on assets due to their price fluctuations and potential for high returns[^3^].

High-yield bonds: Bonds with higher interest rates and lower credit ratings are considered risk-on assets, as they offer higher returns but carry a higher risk of default[^4^].

Cryptocurrencies: Digital currencies like Bitcoin and Ethereum are also considered risk-on assets, given their high volatility and potential for significant gains.

Is Bitcoin Risk-on or Risk-off?

The answer to this question is a bit complicated. Bitcoin is both risk-on and risk-off, depending on how you look at it.

On one hand, Bitcoin represents a store of value that has been around for almost ten years now. It’s known as an alternative to fiat currency and can be used as such anywhere in the world without being affected by any government or central bank policies (unlike traditional currencies).

The classification of Bitcoin as a risk-on or risk-off asset is still a topic of debate among experts. Some argue that Bitcoin exhibits characteristics of both risk-on and risk-off assets, making it difficult to categorize. Bitcoin (BTC) price and charts can display high volatility, which is typically associated with risk-on assets. However, Bitcoin has also been considered as a digital alternative to gold and a potential hedge against traditional market risks, which would classify it as a risk-off asset.

Is Risk-On Risk-Off A Good Indicator of Market Sentiment?

As you can see, risk-on and risk-off indicators are a great way to make better trades. They’re an effective way of identifying the overall sentiment in the market, so that you can be sure that you’re getting in at the right time.

If you want to start using these tools in your own crypto trading strategy, here are some tips:

  • Use them consistently over time to get a feel for how they work together and what their patterns are like. You’ll be able to spot trends more easily after doing this consistently over several weeks or months.
  • Pay attention when there’s news about regulation or other issues affecting cryptocurrencies (or any other financial instrument). These events can influence whether traders feel like taking risks during certain times of day–and if they do decide not to take any chances then it will affect how much money is being traded worldwide.

The Risk-On vs. Risk-Off Approach to Market Sentiment

The terms risk-on and risk-off are used to describe the sentiment of the market. When investors are feeling confident, they’re willing to take on more risk. This is known as a “risk-on” environment. In contrast, when investors are nervous and want less risk–and perhaps even an opportunity to sell at a higher price–they’ll flock toward safe investments like government bonds or gold bullion (hence the term “risk off”).

In general terms, we can say that when we’re in a bull market (a period of rising prices), then we’re usually experiencing a “risk-on” environment; whereas if we’re seeing bear markets (periods where prices decline), then you’ll likely find yourself under pressure from your portfolio manager who wants you out with his/her mantra: “Sell everything!”

Conclusion

The risk-on vs. risk-off approach is a helpful way to understand market sentiment, but it’s important to keep in mind that the market doesn’t always react as expected. The best way to use this indicator is by looking at its historical performance and using it as a guide for future decisions rather than relying on it as an exact predictor of future events.

Cryptosmart: buy BHP to receive Bitcoin for life

https://en.cryptonomist.ch/2023/05/30/cryptosmart-buy-bhp-receive-bitcoin-life/

A few days ago, Cryptosmart announced the launch of a token connected to Bitcoin miners. 

It is BHP (Bitcoin Hash Power), and it is a token that actually allows users to purchase hashpower for Bitcoin mining. 

Features and potential of the BHP token on Cryptosmart

Mining Bitcoin is very difficult now, and requires large investments. Whereas buying BHP tokens is very easy, and anyone can do it. 

Buying 1 BHP token means buying one Terahash per second of hashpower, and once purchased it can be staked in IBX’s mining farms, located in Iceland, in the US (Texas, New York) and in Canada. 

In this way, it is possible to participate in Bitcoin mining without having to do it firsthand, but still receive the rewards in BTC. 

IBX’s mining farms use different models of professional miners, such as Antminer XP 140T, S19 pro110T, S19J 104T, S19J100T, and Avalon 1246 90T, and they mine Bitcoin constantly. 

The BHP token is designed to be everlasting due to the periodic renewal of the technology infrastructure required to support its operation. 

IBX is committed to regularly monitoring and updating the underlying hardware, ensuring that it remains efficient and reliable over time.

This approach ensures the continued operation of the BHP token and preserves its value and usefulness over the long term. Thus, by purchasing BHP tokens, it is possible to receive Bitcoin for life

The BHP token is not yet tradable on the markets, but it can be purchased (minimum 10 tokens) on the Cryptosmart Launchpad and then staked in the appropriate section of the platform. The user will start receiving weekly rewards in BTC for life.

The BHP token allows individuals to accumulate BTC and have the potential for long-term gain: although Bitcoin prices are volatile, some investors believe their value will increase over time. 

If you accumulate Bitcoin through mining and their value increases over the years, the user could make more profit than buying BTC directly initially.

Why Malicious Website Blockers are Crucial for Online Security

https://en.cryptonomist.ch/2023/05/26/why-malicious-website-blockers-crucial/

As the digital landscape continues to expand, so does the array of cyber threats lurking in its shadows. From hackers to cybercriminals, various entities are constantly seeking to exploit vulnerable users online. One of the most common and pernicious threats that Internet users face are malicious websites, designed to steal personal information or infect devices with harmful malware. Hence, the need for an effective defense mechanism, such as malicious website blockers, has never been more paramount. These tools play a crucial role in securing the online landscape and protecting Internet users from potential threats. 

The Danger of Malicious Websites

Malicious websites are specially designed web pages by cybercriminals with the sole intent of causing harm to unsuspecting users. These websites often appear legitimate but are equipped with harmful scripts that install malware, ransomware, or spyware on a user’s device without their consent. Once infected, these programs can steal personal information, corrupt files, or even take control of the user’s device. 

browser protection software block malicious websites, shielding users from potential harm. They function by comparing each visited website against a regularly updated database of known harmful websites. If a match is found, access to the website is blocked, and the user is alerted. In essence, these protection software serve as gatekeepers, allowing safe content while disallowing potentially harmful ones. 

The Importance of Malicious Website Blockers

Without malicious website blockers, users are akin to a ship without a compass in the vast sea of the Internet, constantly at the mercy of hidden cyber threats. These tools not only protect users from known threats but also adapt to new ones, thanks to their constantly updated databases. By providing real-time protection, they allow users to navigate the web with peace of mind, knowing that their devices and personal information are secure.

Moreover, these blockers are not just for individual users. They are equally beneficial for businesses, helping to secure their online operations. By blocking access to malicious websites, they prevent corporate espionage, data breaches, and other forms of cyber-attacks that can lead to substantial financial losses and reputation damage.

Enhanced User Experience: Beyond Security

Beyond security, malicious website blockers contribute to an improved user experience. They often block intrusive and potentially harmful ads, leading to faster-loading websites and an overall smoother browsing experience. They also prevent distractions, enabling users to focus on the content that truly matters to them.

These blockers also come with customization options, allowing users to whitelist certain websites or blacklist others based on their preferences. This personalized approach to security ensures that users retain control over their online experience while still benefiting from robust protection.

Conclusion

Malicious website blockers are not just a luxury; they are a necessity in the current digital age. They provide a proactive approach to online security, blocking threats before they can inflict any damage. 

Despite their importance, these blockers should not be the only line of defense. They should be part of a broader cybersecurity strategy that includes antivirus software, firewalls, and user education about safe browsing habits. In an increasingly interconnected world, a layered approach to security is the most effective way to protect against the multifaceted threats that lurk in the digital shadows.

Beyond Currency – Unveiling its Versatility in the Digital Age

https://en.cryptonomist.ch/2023/05/23/beyond-currency-versatility-digital-age/

PRESS RELEASE

In the fast-paced realm of technological advancements, few innovations have captivated the world’s attention like Bitcoin. As the pioneer of cryptocurrencies, Bitcoin emerged as a disruptive force, revolutionizing the concept of currency and paving the way for a new era of digital transactions. However, its significance extends far beyond its role as a mere digital currency. Bitcoin has transcended conventional boundaries, showcasing its versatility and finding applications in a myriad of domains. In this article, we delve into the multifaceted nature of Bitcoin and explore its potential in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), and the emergence of Bitcoin casinos.

Since its inception in 2009, Bitcoin has evolved into a symbol of innovation, resilience, and financial sovereignty. It operates on a decentralized network, allowing users to engage in peer-to-peer transactions without the need for intermediaries like banks or governments. This inherent decentralization, underpinned by blockchain technology, not only ensures transparency and security but also unlocks a realm of possibilities beyond traditional currency systems.

Decentralized Finance (DeFi): The Evolution of Bitcoin’s Utility

One of the most profound applications of Bitcoin lies in the realm of decentralized finance, or DeFi. Bitcoin’s decentralized nature and immutable ledger make it an ideal foundation for creating financial instruments that operate outside the confines of traditional banking systems. Leveraging the power of smart contracts, Bitcoin has become the backbone of numerous DeFi platforms, facilitating lending, borrowing, and trading activities in a trustless environment.

For example, projects like Rootstock (RSK) have successfully integrated Bitcoin’s robust blockchain with smart contract functionality, offering users a range of decentralized applications (dApps). These applications enable individuals to access financial services, such as stablecoins, lending protocols, and decentralized exchanges, without relying on centralized intermediaries. This decentralized approach empowers users by providing them with greater control over their financial transactions and reducing the barriers to entry in the global financial landscape.

Non-Fungible Tokens (NFTs): Bitcoin’s Journey into the World of Digital Art

Bitcoin’s impact is not limited to the realm of finance. It has also made significant inroads into the world of digital art through the emergence of non-fungible tokens, or NFTs. While Ethereum has traditionally dominated the NFT space, Bitcoin’s unique attributes have begun to attract artists, collectors, and enthusiasts seeking alternative avenues for showcasing and monetizing their creations.

Platforms like Rare Pepe Wallet have emerged, offering artists the ability to tokenize their artworks as Bitcoin-based NFTs. By leveraging the security and immutability of Bitcoin’s blockchain, artists can establish the scarcity and provenance of their digital creations, ultimately increasing their value and authenticity. Moreover, Bitcoin’s widespread recognition and adoption provide an additional layer of prestige and market appeal to Bitcoin-based NFTs, creating a bridge between the worlds of art and cryptocurrency.

Blockchain-based Applications: Bitcoin as the Foundation of Innovation

Bitcoin’s underlying technology, blockchain, has proven to be a catalyst for innovation across a diverse range of industries. Its decentralized and transparent nature provides a solid foundation for building secure and efficient solutions that redefine traditional processes.

For instance, OpenBazaar, an open-source marketplace built on the Bitcoin blockchain, has disrupted the e-commerce landscape. By eliminating intermediaries and facilitating peer-to-peer transactions, OpenBazaar empowers users to buy and sell goods and services in a decentralized manner. The immutability of Bitcoin’s blockchain ensures transparency and fairness, fostering a trustless environment for conducting business.

The Emergence of Bitcoin Casinos: A Paradigm Shift in Online Gambling

The digital ecosystem has recently witnessed the rise of Bitcoin casinos, transforming the realm of online gambling. By leveraging Bitcoin’s advantages of privacy, security, and rapid transactions, these casinos provide a unique and immersive gambling experience for enthusiasts worldwide.

Best Bitcoin casinos offer an extensive array of games ranging from slots and table games to live dealer experiences, all with the added benefits of cryptocurrency. The utilization of Bitcoin as a wagering currency not only eliminates geographical barriers but also enables lightning-fast deposits and withdrawals, fostering seamless and efficient gameplay.

Conclusion

Bitcoin’s journey from a disruptive digital currency to a versatile technology has opened up countless opportunities in the digital age. Through its applications in decentralized finance, non-fungible tokens, and blockchain-based solutions, Bitcoin continues to reshape industries, empower individuals, and challenge traditional paradigms. As we explore the vast potential of Bitcoin beyond currency, we witness a new era of innovation and possibilities, where the boundaries of the digital landscape are continuously pushed, and the true power of decentralized technology unfolds before our eyes.

Crypto transactions are discovering increased value in online gaming

https://en.cryptonomist.ch/2023/04/12/crypto-gaming-market-growth/

Virtual currencies are certainly nothing new in the sphere of online gaming. For more than a decade now, the microtransactions model has introduced in-game currencies that players use to improve their experiences, from boosting their chances of winning to improving their gaming profiles and avatars.

For this reason it’s hardly surprising to see crypto gaming become an actual thing, as forbes.com highlighted in a recent article, as more players globally become fully immersed in online gaming worlds. One particular model they focused on was “play to earn” or P2E, whereby gaming achievements are rewarded with cryptocurrency or digital token payments, actually profiting from their skill and enthusiasm.

Forbes conclusion on crypto gaming

Most interesting of all, American finance publication Forbes pointed out that before the end of 2022, the global gaming token market was already worth more than $12.8 billion. However, there was an important caveat, noting that some of those tokens might only be moved within certain gaming ecosystems. Nevertheless, there are some which can be traded and achieve real-world value, whenever converted to Bitcoin and other virtual currencies.

Most valuable gaming tokens

One of the most valuable gaming tokens is ApeCoin (APE), estimated to have reached a market capitalization value of around $2.23 billion. This is also strongly tied to the Bored Ape Yacht Club, which is a collection of NFT’s built upon Ethereum (ETH) blockchain technology. Many more US games developers are incorporating ApeCoin within their games, including those who created the popular Benji Bananas mobile game in 2013, now enjoying a new lease of crypto life.

But aside from the rise to prominence of crypto gaming itself, the use of virtual currencies has rapidly become commonplace throughout the gaming industry. Some of the major AAA games developers are actively working on models incorporating blockchain transactions, while the online gaming sector is arguably the most reactive overall, keen to embrace the whole gamut of crypto possibilities that are available.

As one of the most popular and famous cryptocurrencies, Bitcoin has become widely accepted for transactions at leading online casino sites, particularly throughout the United States. What’s more, blockchain technology adds an extra layer of protection and security, providing safety and anonymity for deposits and withdrawals. Likewise, online gaming operators can receive and send payments much faster, compared to bank transfers and other methods.

In-depth reviews

Based upon the latest in-depth reviews from legaluspokersites.com experts, use of Bitcoin and other virtual currencies has rapidly become the method of choice, whenever players are considering the best online poker deposit options to select from. And while novice and expert players alike may be gambling on their poker hands, they are doing so with confidence that all their payments and withdrawals are completely secure.

Considering the fact that United States iGaming revenue for sports betting and online continues to grow, surpassing $5 billion for January 2023 alone according to recent figures, it’s hardly surprising that cryptocurrencies will also be making strong inroads into this area of online gaming. Indeed, recent reports published by americangaming.org highlighted that in January this year, 26% of all gaming revenue came from online gambling operations.

Whatever our own gaming preferences may be online, the presence of crypto transactions appears to be gaining traction, and faster than many of us could have previously anticipated. This brings a whole new perspective for the digital gaming sphere, as cryptocurrencies become increasingly part of our digital entertainment choices.

Stasis: introducing the safe infrastructure for corporate crypto settlements

https://en.cryptonomist.ch/2023/04/12/stasis-safe-infrastructure-corporate/

The rapid rise of the cryptocurrency industry in recent years has brought with it a host of exciting possibilities. Still, it has also exposed many infrastructure problems hindering its growth.

From issues with scalability and security to concerns around regulatory compliance and adoption, a range of challenges must be addressed if cryptocurrencies are to realize their full potential.

As the crypto industry continues to grow and gain mainstream adoption, addressing these infrastructure problems will be crucial for its long-term success.

The problems of the traditional banking system

Bitcoin and the blockchain were created by Satoshi Nakamoto in 2008 to address the problems of the fiat currency and the need for trust when it comes to saving money in banks.

After more than 15 years, the banking industry issues stay the same: it is too expensive, not connected to Web3 which is the future, the processes are slow, and there is a need for trust.

stasis

How the blockchain and Stasis can solve those problems

Regularly Joe doesn’t know a lot about banks. It’s about time to climb the learning curve! Are you aware of the risks associated with the fractional banking system?

So now, let’s explore how distributed ledger technology can help make these issues go away. The blockchain indeed solves all the problems above mentioned regarding the traditional finance system and that’s why our EUR stablecoin is of course based on blockchain technology.

This way you are the real owner of your money, especially if you use a non-custodial wallet, the system is faster and accessible any time, cheaper and there is no need to trust anyone.

stasis

The uncomfortable truth is, the fractional banking system has many risks. The so-called “solid institutions” can’t withstand the turmoils of today as the last few recent examples show. Credit Suisse had a 167 years-long history. Silicon Valley Bank operated for 40 years. In the end, both institutions collapsed in just 2 days.

 

STASIS does not have such risks as the company keeps funds in collateral euro stored in the Central Bank.

The whole setup created by STASIS might seem intricate at first glance, but the magic behind the gears actually works!

stasis

Bitget: the crypto exchange and new roadmap with Bitkeep

https://en.cryptonomist.ch/2023/03/29/bitget-crypto-exchange-with-bitkeep/

Crypto exchange Bitget recently announced a $30 million investment in BitKeep, a leading non-custodial cryptocurrency wallet.

This investment led Bitget to become the controlling shareholder of BitKeep, preparing a new roadmap for the year 2023.

The roadmap includes rebranding the DeFi wallet to Bitget Wallet, and updating the logo, app, and website to make them visually more consistent with the Bitget ecosystem. It undoubtedly represents an exciting development for the cryptocurrency industry.

How does BitKeep’s decentralized crypto wallet work

BitKeep is a decentralized wallet that provides a complete crypto management solution. With a user base of over 9.5 million worldwide, it offers a wide range of services, including an integrated NFT marketplace, wallet function, swap services, DApp browser and Launchpad.

As a multi-chain platform, BitKeep supports more than 255,400 types of cryptocurrencies on more than 90 chains, including popular ones such as Bitcoin, Ethereum, Polygon, BNB Chain, Fantom and Solana.

The platform’s all-in-one solution makes it easier for users to manage their digital assets without the need for multiple wallets. It is highly regarded in the industry and has surpassed MetaMask to become the highest rated wallet on Google Play globally.

BitKeep also has a significant presence in North America, Europe and Asia, covering 168 countries in total.

One of BitKeep’s most attractive features is its integrated NFT marketplace, which allows users to exchange and manage their non-fungible tokens flawlessly. The platform also provides a secure and reliable trading experience for its users, ensuring that their digital assets are always safe and accessible.

In addition to its wallet and trading functions, BitKeep also offers a DApp browser and Launchpad, making it a bastion for all things related to decentralized applications.

This functionality allows users to explore new decentralized applications and participate in blockchain-based projects, all from the BitKeep platform.

As a multi-chain platform, BitKeep provides users with a wide range of options for managing their digital assets. With support for more than 90 chains, users can easily manage and trade a wide range of cryptocurrencies, making it an ideal platform for both new and experienced cryptocurrency traders.

Overall, BitKeep’s comprehensive digital asset management solution, including its integrated NFT marketplace, wallet function, swap services, dApp browser, and Launchpad, make it a popular choice for cryptocurrency users worldwide.

With its reliable and secure trading experience and support for more than 90 chains, BitKeep is well positioned to remain a leader in the cryptocurrency wallet market.

But why did BitKeep choose Bitget?

The answer is simple: Bitget is an established company in the cryptocurrency industry, with extensive experience in building robust and secure trading platforms. This expertise has been extended to building an updated security infrastructure for BitKeep’s wallet, with the goal of improving security and stability for its users.

Despite the investment, BitKeep will continue to operate as an independent entity both operationally and structurally, still offering a wide range of services, including storage, exchange, NFT marketplace, and more.

In summary, BitKeep chose Bitget because of its established experience in the cryptocurrency industry and its ability to build robust and secure trading platforms. Through the collaboration, BitKeep will be able to improve the security and stability of its wallet and still offer high-quality services to its users.

The goals of BitKeep’s restructuring project with crypto exchange Bitget

One of the main goals of the roadmap is to improve the security of the BitKeep wallet. BitKeep is using Bitget’s expertise to upgrade its security infrastructure.

This includes a more rigorous pre-release review process, partnerships with security audit companies such as Certik, and the inclusion of MD5 verification for APK packages. In addition, BitKeep wallet users will be protected by the $300 million Bitget User Protection Fund in case of potential security threats in the future.

The roadmap also includes plans for a more product-focused team, with Karry Cheung, BitKeep’s current Chief Product Officer, becoming CEO. Several Bitget team members will also join BitKeep’s R&D and security teams to improve service stability and wallet security.

BitKeep aims to deepen its involvement in the MPC and AA sectors, as well as develop Web3 DID-related features and support the ZK-Rollup ecosystem.

Moka Han, Chief Operating Officer of BitKeep, expressed confidence in BitKeep’s ability to compete in the global market by offering quality services and functionality. Gracy Chen, Managing Director of Bitget, hopes to bring DeFi, swaps, NFT market and dApp functionality to millions of users in the Bitget ecosystem, inspiring the next billion individuals to embrace cryptocurrencies.

The Bitget exchange and BitKeep mark the future of the crypto industry

Overall, Bitget’s investment in BitKeep marks an exciting development for the cryptocurrency industry. The collaboration between two leading players in the industry will likely lead to the creation of new and innovative products and services that will benefit the entire ecosystem. This collaboration is the result of a shared vision for the expansion and evolution of the crypto ecosystem.

BitKeep’s rebranding, security focus, and product-centric approach are all positive signs that suggest the wallet is committed to offering high-quality services.  Together, BitKeep and Bitget are working to create a more secure and reliable cryptocurrency ecosystem that offers a full range of services.

In fact, the future of the crypto industry, will increasingly be driven by the adoption of innovative technologies, and this collaboration is an example of how innovation and a commitment to providing high-quality services can create a more reliable and accessible cryptocurrency ecosystem for all users.

 

Binance: big losses after removing zero-fee trading on Bitcoin

https://en.cryptonomist.ch/2023/03/28/binance-reinstates-bitcoin-fees/

Binance, one of the world’s leading crypto exchanges, has suffered a significant impact on its Bitcoin liquidity following the removal of its zero-fee Bitcoin trading promotion.

Indeed, on 22 March, the exchange discontinued its zero-fee trading promotion for 13 spot trading pairs with Bitcoin (BTC), which had helped boost the exchange’s market share by more than 20% over its competitors.

It also announced the elimination of trading fees for the BTC-TUSD pair, which had been sidelined in September and only recently re-included.

Binance and the impact of the removal of zero-fee trading on Bitcoin

The impact of zero-fee trading on Binance cannot be underestimated, as zero-fee trading volume accounted for the majority of total volume as of mid-March 2023, reaching a high of 66%. This is the data from Kaiko‘s report.

However, since fees were reinstated only five days ago, the market share has been halved and is currently less than 30%, with the fee-free BTC-TUSD pair now accounting for 2.8% of total volume.

Trading volume for the most liquid crypto market, BTC-USDT, has been the most affected, with an average decrease in volume of 90%.

The removal of zero-fee trading also had an impact on the order data in the book.

When fees were first removed, spreads for the BTC-USDT trading pair increased because market makers could no longer count volume toward Binance’s VIP fee program.

To compensate, they had to increase spreads, essentially transferring fees to price takers. The spreads immediately decreased once the commissions were reinstated and currently stand at 0.004 bps.

It is unclear why Binance chose to promote its TUSD pair, although it appears that the exchange selected the stablecoin as the successor to BUSD, which is being phased out due to regulatory actions in the United States.

Traders follow the low fees and whatever Binance does has a huge influence, so one can expect TUSD to become an increasingly important stablecoin.

Overall, Binance’s global market share is already down 10% since last week, although a two-hour outage may have contributed to that.

Arbitrum ecosystem tokens up after ARB distribution

Arbitrum ecosystem tokens with lower market capitalizations rose sharply after the news that Layer 2 would finally distribute its ARB token.

This airdrop was for users and protocols on the network, with GMX (token: GMX) and Treasure DAO (MAGIC) receiving the highest allocations of 8 million ARB each.

Camelot DEX (GRAIL), a fast-growing native Arbitrum exchange, received 2.1 million tokens, while Radiant Capital (RDNT), a cross-chain lending and borrowing protocol, received 3.3 million tokens.

3pool curve depressed after the USDC de-peg

The second largest stablecoin fell below $0.90 just a couple of weeks ago and even now the effects are being felt. No other “place” demonstrates this better than Curve’s 3pool, one of the best indicators of stablecoin sentiment.

Currently its TVL stands at only $420 million, up from $5.5 billion in January last year.

Moreover, the pool consists of only 11% (less than $50 million) USDT, as users have opted for stablecoin with (apparently) no exposure to ongoing banking and regulatory issues in the US.

ARB Liquidity on the rise, stabilizes after listing

Trading of ARB began on most exchanges just after the token was distributed via airdrop.

However, users found it difficult to request and move their received tokens as the Arbitrum network became extremely congested and the Foundation’s request site crashed.

As a result, in the first few hours of trading, most of the centralized exchange pairs were relatively illiquid. Six hours passed before the 1% market depth (the sum of bids and asks within 1% of the average price) reached nearly 2 million ARB.

However, liquidity continued to grow over the weekend, reaching nearly 2 million, most of it in USDT pairs. USD pairs have about twice the liquidity of those included in Other pairs (USDC, EUR and BTC), with 325,000 to 160,000, while USDT pairs hold 1.9 million ARB. Tether continues to be absolutely dominant in CEX trading.

Rising price slippage on US exchanges

For a $100,000 BTC sell order on the US markets, the most liquid USD pair (Coinbase) and the most liquid USDT pair (Binance) had similar slippages of 0.1% in early March.

However, concerns about USD payment circuits have hit the liquidity markets in the United States, and we can see the increase in slippage around 13 March on Coinbase, compared to only a slight increase on the USDT pair on Binance.

Slippage for the BTC-USD pair on Coinbase remains double what it was earlier this month, as USD liquidity suffers across the crypto market.

The most liquid BTC-USD pairs on Bitfinex and Binance.US have both experienced spikes in slippage, increasing 0.1% since the beginning of the month, with spikes of 0.2% and 0.4%, respectively, during the peak of US banking fears.

After Binance, the weekly options volumes on Bitcoin are down from the yearly high

Weekly options volumes on BTC on the largest options exchange, Deribit, fell 40% last week to $6 billion, after reaching an annual high of more than $10 billion earlier this month.

The decline comes amid a slowdown in the BTC spot price following the Fed’s decision to raise interest rates and ongoing concerns about the health of the US banking system.

Overall, bullish (buy) bets continue to outpace bearish (sell) bets, accounting for more than 60% of total volume.

ETH options volumes largely disappointing this year

ETH options volumes have been largely disappointing this year, standing at around $2 billion.

The trend suggests weak hedging and speculative demand despite increasing volatility and the upcoming Shanghai fork, a major risk event for Ethereum that will introduce changes to its consensus mechanism.

The disappointing volumes are in stark contrast to last year’s DeFi boom, which drove the use of Ethereum-based protocols and increased demand for ETH options.

However, the recent growth of NFTs and the growing popularity of layer 2 scaling solutions could provide a catalyst for renewed demand for ETH options in the coming months.

SEC investigates Robinhood’s crypto unit

The US Securities and Exchange Commission (SEC) has opened an investigation into Robinhood’s crypto unit, according to a regulatory notice filed by the company.

The investigation concerns certain registration requirements for Robinhood Crypto and related personnel.

The notice did not provide further details about the investigation. Robinhood’s crypto trading platform is growing rapidly, with the company reporting 18 million customers trading crypto in Q4 2022.

The investigation represents another blow to the company, which has suffered criticism for its handling of GameStop’s trading frenzy and its controversial payment-to-order business model.

Crypto Derivatives

Last week, weekly BTC options volume on the leading options trading platform Deribit fell 40% to $6 billion after reaching an annual high of more than $10 billion earlier this month.

This decline comes in conjunction with a decline in the spot price of Bitcoin, following the Fed’s decision to raise interest rates, and concerns about the health of the US banking system.

Despite this, bullish bets (calls) continued to outweigh bearish bets (puts), accounting for more than 60% of total volume.

ETH options volumes, on the other hand, have been rather disappointing this year, remaining around $2 billion.

This suggests weak demand for hedging and speculation, despite increasing volatility and the upcoming Shanghai fork, a major risk event for ETH. In addition, BTC weekly options volumes are currently 70% higher than those of ETH, an increase from 57% in January.

Analysis from a macro perspective

Bitcoin continues to be the best performing asset YTD (Year To Date). Despite increasing regulatory pressures and the global banking crisis, the YTD returns of BTC and ETH, as measured by Sharpe’s ratio, are higher than those of traditional assets.

Sharpe’s ratio measures the excess return of an asset relative to its volatility. A ratio of 1 or higher is generally considered good. Both BTC and ETH ratios are above 3, well above the S&P 500, which records a ratio of 0.8.

In general, returns on risk-adjusted crypto assets have improved over the past year due to a decrease in volatility, as the amount of risk taken by investors is decreasing relative to the compensation received.

This suggests that the volatility profile of crypto assets is approaching that of traditional assets. Some analysts predict that by 2025 the two types of assets will be on par. However, the reduction in crypto liquidity, known as the “Alameda gap,” that has occurred since last November has increased asset volatility.

An interesting fact is that the realized volatility of BTC exceeded that of ETH for the first time in a year last week. Historically, this has happened only a few times since the launch of ETH in 2016.

In general, ETH is more volatile than BTC and performs higher during bullish markets but lower during bearish markets. However, this trend has reversed in recent weeks, with ETH underperforming BTC by a large margin in March.

Coinbase: shares decline following Wells’ notification

Last week, Coinbase’s share price plummeted 22% in a single day after the exchange received a Wells notification from the US Securities and Exchange Commission (SEC).

This notification is a letter informing individuals or companies of a completed investigation in which violations were found. The notification is said to be related to Coinbase’s spot market and staking program Earn, as well as its core portfolio products.

Although a Wells notification does not represent an enforcement action, it often precedes it, and this has driven Coinbase’s share price down.

Coinbase: share price drop following Wells’ notification.

Last week, Coinbase’s share price plummeted 22% in a single day after the exchange received a Wells notification from the US Securities and Exchange Commission (SEC).

This notification is a letter informing individuals or companies of a completed investigation in which violations were found.

The notification is said to be related to Coinbase’s spot market and staking program Earn, as well as its core portfolio products. Although a Wells notification does not represent an enforcement action, it often precedes it, and this has driven Coinbase’s share price down.

 

Crypto exchange Bitget unveils partnership with Space and Time for enhanced security

https://en.cryptonomist.ch/2023/03/28/crypto-exchange-bitget-new-partnership/

One of the world’s largest crypto copy trading exchanges, Bitget, has announced a strategic partnership with SxT, Space and Time, itself a leader in decentralized data warehousing.

This partnership will enable Bitget to offer its users absolute transparency of exchange transactions with an auditable audit trail that is tamper-proof of data and calculations.

Bitget is the first centralized crypto exchange to leverage a decentralized data warehouse. The Space and Time platform will provide Bitget users with verifiable evidence that the exchange holds the assets it claims to hold on behalf of its clients.

Bitget users will also have full transparency into the activity, liquidity, assets, and liabilities of the exchange with confidence that the data and calculations powering the exchange are accurate and have not been tampered with.

Bitget: the crypto exchange’s successful partnerships

Bitget, founded in 2018, is a leading global cryptocurrency exchange with futures trading and copy trading services as its main features.

Serving more than 8 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure one-stop trading solution.

The exchange also entices people to embrace cryptocurrencies through collaborations with tier partners, including legendary Argentine soccer player Lionel Messi, the leading Italian soccer team Juventus, and official eSports event organizer PGL.

According to CoinGecko, Bitget is currently one of the top 5 futures trading exchanges and one of the top 10 spot trading platforms.

On Bitget’s website, it is possible to access the Proof of Reserves in which it demonstrates to users that the platform has full-reserves, i.e., that clients’ assets are always withdrawable and have not been lent or reinvested.

Bitget’s Proof of Reserves (“PoR”), which uses the Merkle Tree method with cryptographic verification, will also confirm that users’ assets stored on the platform are safeguarded.

To support further transparency, the exchange will thus work with Space and Time, which allows Bitget to provide accounting evidence and assure its users that all the exchange’s transactions are valid and verifiable. The total reserve ratio is 231% according to data as of 6 March 2023, which means Bitget holds over 100% of total user assets divided among BTC, ETH, USDT and USDC.

Gracy Chen, CEO of Bitget, said:

“Bitget strives to be the all-in-one global trading platform, and our partnership with Space and Time highlights our commitment to that. More than ever, users want to see transparency from exchanges. Bitget is first to work toward transparency of proof of accounting and operations through Space and Time. We aim to inspire people to embrace crypto with more protection, transparency and security, which serve as pillars for building a robust platform.”

The new partner Space and Time

Space and Time is Web3’s first native decentralized data warehouse that combines tamper-proof on-chain and off-chain data to provide business use cases to smart contracts.

Space and Time has developed a new cryptography called Proof of SQL™ that allows developers to link analytics directly to smart contracts, opening up a wide range of powerful new use cases and business logic based on blockchain technology.

It is built from the ground up as a multichain data platform for Web3 developers in financial services, GameFi, DeFi or any project requiring next-generation analytics.

Nate Holiday, CEO and co-founder of Space and Time, said:

“Space and Time is building the foundation for a verified and transparent financial economy. We’re thrilled to work with Bitget to provide market-leading proofs for accounting and verifiability of operations. This partnership marks a new era of transparency for centralized businesses.”

Bitget will leverage the Space and Time data warehouse to perform auditable calculations against on-chain and off-chain auditable data. The transparency enabled by Space and Time will help Bitget strengthen the trust it has built with its growing user base as it continues to expand its product offerings to become a one-stop investment solution.