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Cobinhood Adding Gas (GAS) and NEO (NEO)

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Gas (GAS), along with NEO, will be one of the lucky currencies to get listed on Cobinhood! Seeing a currency getting listed on an exchange market is always an exciting thing to have, especially if the exchange market involved is one of the “big players”. Cobinhood, cleverly derived from the combination of words “coin” and “Robin Hood” (as stated by Captain Obvious!), is the first decentralized blockchain-based decentralized platform without fees, so having Gas and NEO welcomed on the board is actually a huge deal. Let’s see how the recent listing affected Gas as well as what this currency has been up to these days.

Cobinhood says YES to Gas and NEO

On March 28th, Cobinhood released a statement where this no-fee decentralized exchange platform updated the public on the most recent news. The news was revolving around NEO and Gas, as Cobinhood representatives announced that these currencies will be joining the existing list of currencies being traded on their platform.

The Cobinhood team added that these currencies will be available for live trading on their platform as of April 6th, which matches the date of this writing. That being said, we are now able to invest in NEO and Gas with no fees policy that no one ever said “No” to as these two currencies are now available for live trading on Cobinhood as well.

Neo and Gas started off strong with promptly acquiring a nickname “China’s Ethereum”, considering the fact that NEO platform is dealing with decentralized applications just like Ethereum.

Although Gas is somewhat less appreciated in oppose to NEO – Neo is ranked among top ten currencies as the 9th best currency according to global coin report list, while Gas is ranked as number 70 on the list. Also, if you take a look at the market state of these digital assets, you will notice that there is a huge gap in the price difference as well. However, this is not an odd case since it is a fact that Gas actually represents a token hosted by NEO and Neo platform.

There is also a crucial difference between the two, where NEO is “stronger”, both technologically and on the market, probably given the fact that NEO actually “gave birth” to Gas.

While Neo is being used for providing voting rights within Neo platform, also representing the shares of NEO that you own, Gas represents a token created by NEO. At every processed block in NEO’s blockchain network, a user gets 8 GAS tokens. The production was then reduced to generating 1 GAS per 2 million processed blocks.

Gas is actually very important for Neo platform as this token serves the purpose of paying for running smart contract operations, which means that Gas is actually powering up smart contracts, which is one of the most important features that Neo has as a platform.

Due to the occasion of adding both, Gas and NEO to the list of trading coins, Cobinhood representatives added that they are constantly trying to meet the needs of their users, so they are working on adding new coins and tokens. However, they need to make sure that the coins they are adding are worthy of being added.

That says a lot about NEO and Gas, so it is a bit odd that only a bit more than a week later, both of this currencies are suffering from losses while trading in the red.

Besides from having Gas and NEO listed, Cobinhood also accepted Bitcoin Cash (BCH).

Cobinhood is also planning on finding more worthy coins to add to the trading list while they are working on creating corporate accounts that will enable lots of handy perks including the increase of withdrawal limits.

How NEO and Gas are doing at the Current Moment?

After the latest change in the market, Gas is being traded in the red with -14.69% of drop against the dollar. Gas is also trading in the red and down against BTC and NEO, dropping by -2.42% and -0.56%.

Given the recent negative changes, this token can now be bought for 14.14$ per one GAS token. Gas reached its record price on January 16th, when most currencies were experiencing massive gains in the market. On this occasion, GAS hovered around 85$ per one unit, but it dropped to the current price of a bit over 14$ in only 8 weeks.

Neo is also trading in the red after the most recent change in the market. This coin fell down against the dollar by –4.07%, which is still significantly better than its token, GAS. NEO is also trading down in the red against BTC, dropping by -1.79%.

At the current moment, you can buy Neo for 44.76$ per one unit.

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

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.

Image courtesy of Arran Bee via Flickr

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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