A new statement published by a popular cryptocurrency trading platform, eToro, announced the listing of the platform’s 13th digital coin — Binance Coin (BNB). This has made eToro the second platform to allow users to trade BNB against USD.
— eToro (@eToro) October 29, 2018
eToro’s initial goal was to become a regulated securities broker. Because of that, it has the ability to offer security tokens to its users. However, it has become clear that it is also looking to become more deeply involved in trading cryptocurrencies. As stated, BNB is the 14th coin that the platform is now offering. Other cryptos that are listed on eToro include Bitcoin, Bitcoin Cash, Ethereum, Dash, Ripple, Stellar, Litecoin. Ethereum Classic, NEO, EOS, IOTA, Zcash, and Cardano.
Binance Coin is the safest crypto this year
eToro has, of course, conducted an analysis of each and every token prior to their listing on the platform. The same is true for BNB. However, what makes BNB unique is eToro’s belief that this is currently the safest cryptocurrency on the market. In addition, eToro also compared it to Bitcoin, stating that BTC has a rather wide presence, that investors need to be careful about.
In comparison, BNB’s volume is concentrated on its native exchange, but this makes it better in terms of security. Even so, eToro admits that this also makes Binance Coin vulnerable to potential internal issues. As a part of their statement, they also noticed that BNB’s coin supply is greater than that of Bitcoin. To them, this is an indication that BNB might surpass Bitcoin in terms of market cap as well. However, there are a lot of other cryptocurrencies that exceed BTC’s supply by far, and none of them managed to surpass its market cap, so this line of reasoning remains questionable.
In the end, eToro decided that the fact that BNB is limited to Binance is a positive thing. eToro’s managing director, Guy Hirsch, stated that the platform adds support for coins that, in their opinion, have a top product behind them, as well as a clear roadmap for that product. Due to the fact that Binance has been creating an innovative infrastructure for some time, eToro believes that their products are soon to be in great demand.
By adding BNB to their platform, the coin will also gain more exposure, and a large number of investors and traders will get the opportunity to start trading it. Considering that eToro has over nine million users around the world, this is more than likely to happen.
Still, it should be noted that eToro is a rather careful platform, which is why they will introduce a daily investment limit for Binance Coin, at least for a while. Additionally, they stressed that the asset may become unavailable from time to time, but this will not be the case when it comes to the closing of open trades.
As for Binance itself, its CEO and founder, Changpeng Zhao, stated that the exchange’s entire team is honored and excited about the new listing. Furthermore, the exchange believes in creating utility and value for their asset on a long-term basis, which is why they will continue to do so in collaboration with eToro.
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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.
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…
My Crypto Heroes Announces Issuance of MCH Governance Token
Tokyo, Japan, 24th November, 2020, // ChainWire //
My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH.
My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.
What is MCH Coin?
MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.
Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.
The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:
During December 2020 the first governance…