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Crypto Exchange Expert: The Coin that Enthusiasts are Overlooking

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Andrew Wong, an executive from International Digital Currency Markets, one of the world’s leading crypto exchanges, believes that Stellar’s potential is being overlooked by enthusiasts and investors.

Andrew Wong, who works as a managing partner at International Digital Currency Markets, has argued that Stellar network, along with its Lumens coin (XLM,) can comfortably handle 90 percent of a user’s requirements for smart contracts. He also claimed that it can process 100 times more transactions than Ethereum can every second – and all of this is achieved at a lower cost.

Reflecting on the state of the industry right now, Mr. Wong thinks it could be many years before market-leading tokens begin to emerge.  He forecasts a “free for all” until then, meaning there’s an opportunity for a new coin to sweep in and establish dominance.

He believes that major growth in the crypto world is far from over, and predicted that this will be the case for at least five more years. The executive believes that current big players such as Ethereum and Bitcoin will still be around 2023, along with the so-called altcoins that are trying to gain popularity among users.

Challenges to overcome

For all of the promise that cryptocurrency brings, Mr. Wong believes there are some big challenges ahead for the industry.

First, he pointed towards usability – and predicts that mass adoption of cryptocurrencies would be at least a decade away.

Mr. Wong says that this is, in part, because of the scalability issues that constantly threaten blockchain and crypto – slowing down the time it takes to complete transactions acts as a massive barrier to entry for businesses concerned about whether the digital economy would be able to support their growth. Another reason is due to crypto’s accessibility –  digital tokens are often viewed as being too difficult to use for the population at large.

He does, however, believe that certain coins hold a lot of promise and potential – and outlined two that he keeps his eye on as big players for the future: the Dero Project and Ravencoin (or RVN for short.)

Market changes

Of course, the crypto world has never been good at sitting still – and Mr. Wong says that businesses and consumers should brace themselves for some big changes in the coming years.

Primarily, the IDCM managing partner believes that regulation is going to play a larger role in the industry going forward. However, he stressed that extra rules and oversight do have the potential to be a good thing as long as “it is not suffocating innovation.”

Mr. Wong thinks that, when it comes to regulatory matters, the opposite will happen. He is upbeat about countries around the world starting to compete ferociously through favourable policies designed to entice capital and talent to set up shop in their country.

Whatever happens, he predicts that initial coin offerings (ICOs) will soon face greater oversight, while centralized exchanges are going to face tighter controls when it comes to the “know your customer” checks they carry out on new users.

Looking ahead

Overall, Mr. Wong says that this is still a good time to be in crypto – especially for entrepreneurs who are looking to start their own venture. With strong projected growth, he views the current market conditions as conducive for developing practical applications and laying the groundwork for a lasting business.

Mr. Wong worked for seven years as a trader at JP Morgan before he joined IDCM. One of the world’s top crypto exchanges in terms of trading volume, IDCM promises to offer deep liquidity and a safe and stable infrastructure thanks to its dedicated cold storage solution. It supports withdrawals in US dollars and Hong Kong dollars and supports leveraged trading and algorithmic strategies for more advanced investors.

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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A Guide to Exploring the Singaporean ETF market

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Singapore’s Exchange Traded Fund (ETF) market has grown, offering investors diverse investment opportunities and access to different asset classes. As the market evolves, investors must navigate these uncharted waters with a clear understanding of Singapore’s ETF landscape. This article explores the trends, challenges and strategies for navigating the Singapore ETF market. To start investing in ETFs, you can visit Saxo Capital Markets PTE.

The Singaporean ETF Market: Exponential Growth

The Singapore ETF market has seen significant growth in recent years, with an increasing number of ETFs covering a wide range of asset classes and holders. different investment topics. 

One of the notable trends in the Singapore ETF market is the growing diversity of available options. Investors can now choose from ETFs that track domestic and international stock indexes, bonds, commodities, and specialist sectors or themes. This diverse range of ETFs allows investors to create comprehensive portfolios tailored to their investment goals.

The growth of the ETF market in Singapore is also due to growing investor demand for low-cost, transparent, and accessible investment vehicles. ETFs offer benefits such as intraday liquidity, real-time pricing, and the ability to trade on exchanges. These characteristics have made ETFs attractive to retail and institutional investors who want exposure to different asset classes.

Regulatory Landscape and Investor Protection

The Monetary Authority of Singapore (MAS) is the…

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Property Loans for Foreigners in Singapore That You Must Know About

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property loans for foreigners in Singapore

Intending to invest in a residential or commercial property in Singapore?  

When it comes to foreigners applying for a loan in Singapore, things can be pretty hard regardless of the reason whether you need the property for personal or business purposes.  

In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.  

HOW MUCH CAN YOU BORROW FOR A PROPERTY LOAN IN SINGAPORE? 

As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.  

In this sense, Singapore has the Loan to Value Ratio (LTV).  

The LTV ratio is what determines the exact amount of money you can borrow for a property loan, which changes depending on where you try to obtain the loan:  

  • If you are applying for a bank loan, you can borrow a maximum of 75% of the value of the property you want to purchase. That means if you are looking for a property that costs $500.000, the maximum amount of money a bank lender can give you like a loan in Singapore is going to be $375.000. 
  • When you are applying for a loan with a Housing…
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CoinField Launches Sologenic Initial Exchange Offering

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Sologenic

CoinField has started its Sologenic IEO, which is the first project to utilize the XRP Ledger for tokenizing stocks and ETFs. The sale will last for one week and will officially end on February 25, 2020, before SOLO trading begins on the platform.  Sologenic’s native token SOLO is being offered at 0.25 USDT during the IEO.   

Earlier this month, Sologenic released the very first decentralized wallet app for SOLO, XRP, and tokenized assets to support the Sologenic ecosystem. The app is available for mobile and desktop via the Apple Store and Google Play.  The desktop version is available for Windows and Mac.

“By connecting the traditional financial markets with crypto, Sologenic will bring a significant volume to the crypto markets. The role of the Sologenic ecosystem is to facilitate the trading of a wide range of asset classes such as stocks, ETFs, and precious metals using blockchain technology. Sologenic is an ecosystem where users can tokenize, trade, and spend these digital assets using SOLO cards in real-time. The ultimate goal is to make Sologenic as decentralized as possible, where CoinField’s role will be only limited to KYC and fiat ON & OFF ramping,” said CoinField’s CEO…

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