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Bithumb Welcomes Cardano (ADA) and Status (SNT): 1% Payback Announced

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Bithumb announced that they will be adding Cardano and Status to their list of trading coins starting on June 13th, which came after having this Korean-based exchange platform adding Aeternity and NEM to their list of digital assets. New listings and partnerships are always welcome to the community, so as expected the mentioned listing did cause increased trading volumes in both SNT and ADA over the past couple of days. Although the current bear market kept gains limited.

Bithumb Announces New Listings

After announcing that Bithumb will be adding NEM and Aeternity (AE) to their exchange platform, Bithumb has announced two more listings as stated in the official post on Twitter that they have published several days ago, on June 13th.

As of the mentioned date, Status and Cardano became available for Bithumb users, adding more to the value of the exchange and of course getting more on accessibility and exposure in return.

Bithumb makes up for one of the top South Korean crypto exchanges and thus make a valuable partner in the market.

Although NEM, once ranked as the 15th-best currency started to drop in the last 24 hours despite the Bithumb listing and a rather benevolent trend in the market which pushed XEM down to the 16th spot on the list, Aeternity, SNT, and ADA are going up against the dollar while collecting gains at the time of this writing.

Cardano makes up for one of the top 10 coins, previously listed as the 7th best coin and now taking the 8th spot, so Bithumb makes one of over 15 exchanges which have listed ADA over its lifetime.

In addition to having Bithumb on its list of top exchanges, Cardano can be traded on Huobi, Binance, Bittrex, Upbit, Indodax, Cryptopia and 15 more exchange platform, pushing its market cap to 4.3 billion dollars and up.

Status seems to also be doing pretty well with the latest market trend and with having been added to yet another exchange. With the Bithumb listing Status is getting closer to having 40 listings, while currently being listed on 31 exchange platforms, which include Cobinhood, OKEx, Binance, HitBTC, Livecoin, KuCoin, Bittrex and over 20 more exchange listings with different fiat and crypto trading pairs.

Bithumb Is Offering 1% Payback

With the announcement of the newest listings that came on June 13th with going live the next day, Bithumb announced that the exchange will be giving out 1% payback to their users, which might increase the trading volumes for the newly listed currencies during the period between June 16th and June 20th.

Apparently, if you place the newly added digital assets as a deposit by June 16th, which would mark the final date of deposit making, trading the deposited assets by June 20th would make you eligible for getting 1% payback from Bithumb exchange, making a great way of promoting the newly added currencies along the way.

Allegations for Tax Evasion Dropped: Bithumb Clean

Back in 2017, Bithumb exchange was accused of having been involved in illegal activities by evading tax payments. The National Tax Service has been monitoring and leading this case from the mere start until they have finally come to a conclusion during the last week.

On June 8th, The National Tax Service has announced that all allegations of tax evasion on Behalf of Bithumb are dropped in this case given the fact that the accounting records of the South Korean exchange were carefully investigated leading to the conclusion that Bithumb has neatly paid all their taxes.

It was officially confirmed that Bithumb was falsely accused of tax evasion, while the National Tax Service confirmed that Bithumb paid for all fees and taxes that were summed up to 28 million dollars, which in this case represents a normal tax bill for the year 2017.

This way, all allegations were dropped and all accusations shut down, restoring the probably lost trust in Bithumb exchange that makes up for one of the top exchanges based in South Korea by increasing the exposure of 37 listed digital assets on its platform.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or 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.

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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