Connect with us

Featured news

Mighty Hong Kong exchange Bit-Z welcomes Ripple’s XRP paired to USD

Published

on

XRP
READ LATER - DOWNLOAD THIS POST AS PDF

A popular crypto exchange based in Hong Kong, Bit-Z, has listed Ripple’s XRP today. We often report on things that happen with crypto exchanges that don’t keep too big a profile in the cryptosphere. Not today. Today it’s about one of the big boys.

Bit-Z is a cryptocurrency exchange based in Hong Kong since 2016. It has a physical presence in 10 different countries, mainly in Asia (South Korea, Japan, Singapore). Tokeninsight (a professional assessment agency) considers it to be the world’s fourth most important. The company is a lot more than a simple cryptocurrency exchange. It also works in social networking, games, finance and electronic commerce. Lots of fingers in lots of pies.

Bit-Z, who has listed Ripple’s XRP just today, used to do business in very much the same way as most of the world’s crypto exchanges. By that, we mean that you could get a single trading account which is essentially useful to buy or sell Bitcoin. You have to verify your account through your mobile phone, and they could ask you to send some kind of ID to verify at a higher level.

While several digital assets are available at Bit-Z, before a few weeks ago you couldn’t use it to buy any directly, the way to go was to transfer Bitcoins from your wallet to your account on the website. Then you would trade Bitcoins for any of the other coins available.

If you’ve been involved in crypto as a retail investor, you’ll know that this is the way in which most exchanges work. The number of platforms that will allow you to buy any cryptocurrency using your debit or credit card is somewhat limited and, very frequently, you can only buy Bitcoin at the start.

Even before listing Ripple’s XRP, Bit-Z was already ahead of the curve because it offered something called “OTC Trade” in which you can use USD or Chinese yuan to buy ETH, BTC or LTC.

These purchases are done off the exchange service, but once you have them, you can transfer them to your Bit-Z account. And they take a wide variety of payment methods such as wire, cash deposit, AlyOPay, Moneygram, Neteller, WeChat, PayPal, and Western Union.

The information presented so far should suffice to show that this company has been innovative in opening the crypto horizons to all kinds of users who are not experts in blockchain technology or digital assets. And now, it’s taken another step beyond most competitors.

So, the announcement says that starting today, Bit-Z will be supporting Ripple’s XRP for trade and exchange. Not only that, it won’t be paired with Bitcoin or other cryptocurrencies only (which is the most common scenario, to the frustration of many) but also paired with a fiat currency, namely, the United States Dollar.

This can be a game changer, at least in the short term for Bit-Z because very few exchanges are offering the opportunity to buy XRP directly (instead of exchanging it for Bitcoin) and XRP is quickly becoming one of the world’s most important currencies.

XRP has been the coin that’s held its own during the last week’s market debacle; it’s dethroned Ethereum for the world’s second spot concerning market capitalization despite the mess we’ve attested over the last few days. And let’s not forget it was last year’s most profitable asset.

This is excellent news for XRP, Bit-Z, and lots of users – so we congratulate both entities on the new stride that will consolidate them both as some of the market’s leading players.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image Courtesy of Pixabay.

Blogs

How is the Crypto Market Changing?

Published

on

crypto market
READ LATER - DOWNLOAD THIS POST AS PDF

It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

Continue Reading

Bitcoin

What Caused So Many Investors to Turn to Bitcoin in 2017?

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

Bitcoin (BTC) has been growing increasingly popular in recent years, especially in the last two. About five weeks ago, the coin celebrated its 10th birthday, however, while it has been an entire decade of its existence, it was basically unknown to anyone who is not a particularly interested in new technologies. This all changed in 2017, when Bitcoin’s price skyrocketed from $1,000 to $20,000, making it the biggest trend of the year.

Suddenly, the entire world heard of its name, and cryptocurrencies finally got their place under the spotlight. Investors continued to arrive at the crypto space, cash was flowing, hundreds of new coins emerged, and more optimistic analysts predicted Bitcoin’s price going even higher, potentially reaching $50,000, $100,000, and more.

However, as we know today, it was not to last. 2018 was barely a few weeks in when the market crashed, the prices started dropping, and investors started selling. The profits were quickly lost for anyone who did not cash out in time, and these days, Bitcoin’s price sits at around $3,812. The crash reminded everyone that cryptocurrencies remain as volatile as ever and that they still pose a risk for investors. But, people already knew this, so why did they invest in the first place?

Chart courtesy of TradingView

Bitcoin is alluring

The first thing…

Continue Reading

Bitcoin

Top 5 Presidential Candidates Thoughts About Bitcoin

Published

on

Presidential candidates
READ LATER - DOWNLOAD THIS POST AS PDF

The cryptocurrency space is growing larger and has more impact on our everyday life with each new year. Despite the low prices and market crashes in 2018, the situation on the market seems to be taking a turn for the better, especially after a new surge that started on February 8th. However, as we progress through another year of cryptos’ fight for survival and adoption, the 2020 US Presidential Elections continue to approach.

With that in mind, it might be worth knowing what the current major Presidential candidates think about the crypto space, and Bitcoin (BTC), in particular. Of course, no one can know who will get elected and whether the next US President will be a crypto investor or someone who will have no problems with imposing even stricter regulations that might limit the market’s potentials.

Even so, we can at least see what they had to say about the crypto industry, and form some sort of expectations regarding the future based on that. It should be noted that the list does not include every candidate, only the major ones, and those who decided to take a notable stance towards Bitcoin.

1) Cory Booker

Let’s start with the Democratic candidates, the first of which on our list is Senator Cory Booker. Unfortunately, Sen. Booker did not reveal what his thoughts are on Bitcoin and the crypto industry,…

Continue Reading

Elite