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Coincheck Brings Back Account Openings, Purchases, and Deposits For Selected Coins

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Coincheck

Cryptocurrency exchange going by the name of Coincheck has just announced that it will bring back purchases and deposits for some cryptocurrencies.

Coincheck re-introduces some of its former services

Coincheck is a crypto exchange that has had a lot of issues throughout 2018, starting with a major hack that hit the exchange back in January. After the hack, Coincheck was in bad shape, and it was soon purchased by a Japan-based brokerage company called Monex Group. This was in April 2018, and the exchange was bought for around $33.5 million.

Coincheck attempted to recover on its own in February, and it resumed JPY withdrawals, as well as remitting and selling several coins. Most of this was done by taking one step at the time throughout the first half of 2018.

This is the way the exchange continued to recover up to this point, and the new press release states that several chosen cryptocurrencies are now available for deposit. These include Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and Ethereum Classic (ETC). Furthermore, the exchange has made BCH, LTC, and ETC available for purchase as well, while Bitcoin is still suspended due to the attack.

Coincheck also announced that users can now open new accounts, however, this only includes customers based in Japan. In addition, those interested in opening an account will have to go through the KYC process. This is required due to regulation brought by Japan’s FSA.

Coincheck’s recovery and plans for the future

Due to the incident that has left the exchange in a very bad shape, Coincheck is seeking confirmation of technical safety for all of the products and services. This is done in order to prevent another attack, as well as to avoid fines for insufficient security. Apart from having its reputation damaged after the hack, the exchange was in dire need of funds, which the Monex Group used to buy it in the first place.

Now that the exchange feels confident enough to get back into the crypto business, many have seen it as a good sign. Not only is Coincheck finally making a return, but it will also mean a lot for Monex Group. As mentioned, the exchange has had a lot of losses throughout this year, and by purchasing it, Monex felt the consequences of the incident as well.

Thanks to the return of the exchange and its services, it is expected that Coincheck will perform much better in the following quarters. While the speed of the recovery is something that has yet to be established, the crypto community has welcomed this move as a positive one.

Finally, while Coincheck announced that it will make its recovery one step at the time, it has already made a lot of plans for the future. These include things such as bringing back leverage transactions for new positions, JPY depositing via convenience stores, affiliate service, and alike. Of course, all of these services will first need to be confirmed from the security perspective before they are officially re-introduced.

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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

Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming

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Singapore, Singapore, 26th February, 2021, // ChainWire //

Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming

Unifi Protocol announces the launch of Unifi Farms. The most revolutionary part of Unifi Farms is there is no staking of the liquidity token required. The public beta launch of Unifi Farms V1 will take place on not one, not two, but six different blockchains at once. 

Unifi is proud to announce the upcoming public beta launch of Unifi Farms V1 on Binance Smart Chain!

Unifi Protocol is not a clone of other DeFi projects, which has led to some very unique innovations.  Unifi Farms will continue this tradition of shattering expectations and introducing features on Unifi Farms not being offered anywhere else in DeFi!   

Unifi Farms will have several advantages over old-fashioned DeFi farms.  The one that will likely be the most revolutionary with Unifi Farms is there is no staking of the liquidity token required! Welcome to the world of true auto-farming on Unifi, where we refer to it as No-Stake Farming.

Why is farming without staking so revolutionary?

Savings! Everyone agrees the high network fees on Ethereum have a large impact on the farming rewards earned by liquidity providers.  Even on low cost networks such as Binance Smart Chain, the network fee is a cost that reduces the benefit of farming. 

To participate in most farms, the user pays at least five network fees.…

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Altcoins

DeFi Wizard Raises $750k from Blockchain Investment Bigshots, to Simplify Multi-chain DeFi Legos

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Bengaluru,, India, 24th February, 2021, // ChainWire //

In order to give shape to their ‘one-click DeFi contracts creation’ dream, Defi Wizard has raised a total of $750,000 from X21 Digital, AU21 Capital, Amsterdam-based TRG Capital, DeltaHub Capital, NGC Ventures, and ExNetwork.

Speaking on latest development Defi wizard founder and CEO, Anand Kamath said: 

“It gives us immense pleasure to announce that our platform, DeFi Wizard has attracted the attention of leading blockchain investors and funds.”

DeFi Wizard aims to help cryptocurrency companies and businesses seamlessly create digital assets, without any hassles, with the objective of becoming an all-in-one token creation platform. 

Investment Usage

This recently concluded fundraising round is an important milestone for Defi Wizard. It will fuel the development of the platform along with operations/maintenance.

Other ways in which Defi wizard will receive assistance is with liquidity bootstrapping for Uniswap listing, alongwith added global and regional promotional efforts to generate awareness for the platform. 

About Defi Wizard

Defi wizard is a dashboard for building DeFi (decentralized finance) smart contracts with a few clicks. It offers real-time programmer analytics and allows users to create smart contracts for ERC20 / BEP20 / EDST, staking, yield farming, governance, cross-chain bridge, gasless relayer baked in.

As per the latest statistics, more than five projects are already using DeFi Wizard’s staking services and more than $100M AUM has been locked through the smart contracts generated through the…

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Altcoins

99Bitcoins takes over the “Dead Coins” project to become the cryptocurrency undertaker

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Singapore, Singapore, 17th February, 2021, // ChainWire //

99Bitcoins, an educational website that maintains a list of Bitcoin obituaries made by the media, has taken over the Dead Coins project as well. This move effectively crowns 99Bitcoins as “The undertaker of the cryptoverse”.

Deadcoins.com was established in late 2017 to document the death of thousands of altcoins that popped up during the cryptocurrency mania of that time. The idea was simple – create a list of coins that have ceased to exist after the hype died down.

A coin can become “dead” due to a variety of reasons such as its development being halted, having no one that uses or trades it, being exposed as a scam and more. While the project was initially maintained only by its founders, it was later outsourced to the cryptocurrency community which was allowed to add their own dead coins.

“I think the dead coins project is a brilliant idea that needs a bit of polishing” says Ofir Beigel, owner and founder of 99Bitcoins. “The fact that anyone can add a dead coin themselves made the list of coins very inaccurate. We’ve spent days going through the complete list and sifted out all of the coins that were buried alive, so to speak. For example, Bitcoin, Tron, Dogecoin and Tether are just some of the coins that were listed when we took…

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