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Forget an ETF, Here Is How You Can Invest In Bitcoin

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Investors in the United States are eagerly and patiently waiting for the SEC to make a decision on the pending Bitcoin ETF that has been filed by the CBOE exchange. Many believe that an ETF would be a safer, more regulated option than to dive into crypto through the numerous crypto exchanges. An Exchange Traded Fund (ETF) is a safer option for it is a type of fund that owns the underlying asset – in this case Bitcoin – and divides the ownership of those assets into shares. Shareholders indirectly own these assets and are entitled to a proportion of the profits of the fund and are protected by the law, hence making it safer for individual traders.

The American public has posted over 1,300 comments on the SEC website in support of a Bitcoin ETFOne of the comments from the public on the SEC’s website in support of the ETF best exemplifies why individual investors want it:

This ETF satisfies the SEC’s concerns in protecting investors and maintaining fair markets. It is 100% insured and will target institutional investors who are capable of making informed investment decisions. In addition, this ETF will be backed by actual bitcoins. This will reduce concentration of bitcoin by “whales” and further distribution. By opening the market to more investors, an ETF will provide liquidity and transparency to the bitcoin market which will minimize the ability to manipulate the market.”

So what other option do individual US investors have as they wait for a Bitcoin ETF?

Bloomberg recently reported that a Bitcoin Exchange Traded Note (ETN) has been available for purchase on the Nasdaq Stockholm exchange since 2015. ETNs are debt instruments that are backed by their issuers — often a bank — rather than a pool of assets and often focus on esoteric strategies that don’t easily fit in a fund.

And now American investors can purchase this Bitcoin ETN more efficiently from as early as August 22nd, though it will still be listed and regulated in Sweden. The product, called Bitcoin Tracker One, will now be quoted in U.S. dollars under the ticker CXBTF thus helping brokerages to offer it to American investors.

This ETN is one more Bitcoin product that the SEC can acknowledge and benchmark in their decision to pass a Bitcoin ETF in the United States.

Ryan Radloff, the CEO of CoinShares Holdings Ltd., the parent of the company that offers the ETN, had this to say with regards to the ETN:

“Everyone that’s investing in dollars can now get exposure to these products, whereas before, they were only available in euros or Swedish krona. Given the current climate on the regulatory front in the U.S., this is a big win for Bitcoin.”

It is also a big win for the US investors who wanted a fully regulated product that has Bitcoin as an underlying asset. An ETN clears the path for a Bitcoin ETF approval by the SEC.

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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.

Image courtesy of Pexels

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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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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Bitcoin

The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

The first of…

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