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Cryptocurrencies (BTC, ETH, LTC, XRP) Will Edge Out Traditional Financial Systems

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The crypto markets have been in the red since Sunday and show no signs of stopping. Bitcoin (BTC) has been forecasted to touch $5,700 before any signs of a rebound can be seen. The King of Crypto is currently trading at $7,200 at the moment of writing this and down 1.70% in 24 hours. Ethereum (ETH) has also been affected and is trading at $539. Ripple (XRP) has not been spared and is currently trading at $0.57. Bitcoin Cash (BCH) has gone to levels below $1,000 and currently trading at $926.

The cause of the current decline has been the subject of speculation. Many traders have postulated the theory that Bitcoin manipulation is highly probable. They claim that it all started when the CME Group and CBOE started offering Bitcoin futures back in mid-December. But these institutions really be blamed? The crypto-verse is unregulated and subject to pump and dumps once in a while at the expense of the small traders.

But can it be that the actions of the ‘big shot’ financial institutions are the kicks of a dying horse? Are they seeing pending doom with the introduction of decentralization and peer-to-peer transactions as envisioned by Satoshi Nakamoto?

This might be the case. They are trying to make some profits before they fall like the wooden bricks while playing Jenga.

Niall Ferguson, an accomplished author and commentator, recently told a group at a seminar hosted by the Bank of England, that Bitcoin and cryptocurrencies were the financial systems of the future. He was also keen to note that we might be on the cusp of another financial crisis as the one witnessed in 2008. He had this to say:

“The financial system of today is not fundamentally that different than the financial system of the pre-crisis period, except that big banks are better capitalized. I don’t think much else is really different. The novelties, the things that will really matter ten years hence are still relatively small in scale. Whether its bitcoin or cryptocurrency generally or the massive revolution in online payments that is being achieved by the big Chinese tech companies, that’s the financial system of the future, and it is still small enough not to be systemically important in 2018. In short, I am left feeling we are only a matter of time before the next crisis.”

The last crisis was the fault of the American banks who were trading with derivatives of mortgages held by subprime borrowers. The interest rates of these mortgages fluctuated resulting in a domino effect of delinquent payments. What then happened is a total collapse of the economy due to lack of support for the value of the said derivatives.

Long story short, the banks messed it up. This then gives cryptocurrencies the opportunity of grabbing the wheel in terms of being the financial system of the future. Even with the current decline in the crypto market, there is some light at the end of the tunnel in crypto going mainstream. We hold the key to this adoption.

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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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How Can Foreigners Get Loans in Singapore

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Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also…

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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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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