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BitBay (BAY) Is Reaching Critical Mass – Here’s What’s Next



BitBay Image

BitBay (BAY) is one of the companies and accompanying cryptocurrencies that we feel is and has been the most overlooked in the market over the last 12 months and more. That is a big statement but it is not one we make lightly. And over the last few weeks, our expectations for BAY have been validated – to a degree.

The coin currently trades for just shy of $0.37 apiece, up from $0.07 apiece on December 6. This gives the overall BAY ecosystem a market capitalization of $368 million and, over the last 24 hours, we saw volume hit more than $18 million – meaning a little over 25% of the total outstanding coins changed hands.

And for BitBay, and BAY, this is far from unusual. Indeed, changing hands is the primary use case for BAY, as compared to some of the more speculative assets or the more functional ones in this market.

So what is BAY and why do we like it so much?

BitBay is a decentralized transaction marketplace that is set up in a similar fashion to what we might refer to as its namesake – eBay. However, there are a number of key and pivotal differences which ensure that, other than the fact that people are buying and selling across the company’s platform and that the final three letters of the platforms name match those of eBay, the ecosystems are entirely different.

BAY Daily Chart

BAY Daily Chart

It’s built using smart contracts, meaning much of the bureaucracy and the process complexities associated with buying and selling goods and services across pretty much any other platform (be that virtual or real world) are removed.

The company has used what it calls a double deposit escrow system so as to pretty much entirely remove the incentive from either buyer or seller to act maliciously when conducting a transaction. Basically, both users contribute deposit ahead of the transaction and if one or the other act maliciously, both deposits are burnt, meaning both parties lose money.

The platform also allows for custom smart contract templates which means a seller can structure the transaction pretty much exactly how he or she wishes, with pretty much any currency available for use, any deal structure (auction, barter, exchange, or something) available, and many more options that basically blow all of the other online exchange platforms out of the water in terms of seller functionality.

So why is this one running now?

Well, the platform is reaching a critical mass of users and is about to release a brand-new client GUI this quarter. Alongside this GUI, we will see the release of a mobile wallet and the release of the final smart contract templates, which should facilitate increased quality of seller experience (and, in turn, translate to user growth).

Additionally, next quarter, the company is set to implement what’s called a dynamic peg, which essentially allows for pegging of BAY to USD (or another fiat) at the time of a deal closing so as to ensure that the buyer and seller don’t have to be concerned with fluctuating rates while the deal matures to completion.

This is a big deal as it will likely translate to a much higher proportion of transactions being carried out in BAY (as well as the increased BAY deposit count that comes with an increased user base), which, in turn, will translate to an increase in demand and (by proxy) an increase in price of the underlying asset.

That’s why we’re excited about this one and that’s why we think there’s a lot of run room left on current prices – this company is just getting started and we expect it to grow far and fast during 2018.

We will be updating our subscribers as soon as we know more. For the latest on BAY, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of BitBay


Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC




The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange



Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited ( ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub ( ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Wisebitcoin Launches Professional-Grade Crypto Exchange



Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

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