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Here Is Why the Rejection of the Winklevoss Bitcoin ETF Is A Good Thing

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Not every situation that is considered bad for the crypto-verse is actually bad. No. There are some things that at first look like the end of the Bitcoin ETF only to deliver a bunch of silver linings that make one glad to be part of this amazing world we call cryptocurrencies and blockchain technology.

On Thursday, July 26th, the SEC came to reject what many thought was the CBOE Bitcoin ETF that everyone was anticipating to be decided on in the month of August. So what happened, is that the recent gains of BTC above $8,000 were eroded momentarily as the crypto-markets were confused with which BTC ETF was which. But as soon as the air was cleared, many rejoiced at this rejection as shall be explained below.

Firstly, the crypto-verse was made aware of dissent at the SEC when one commissioner disagreed publicly with the decision to reject the Winklevoss ETF. This ETF, also known as the Bats ATF, was actually a revision of a filing the twins had made back in 2016. This was the second time it was being rejected by the SEC. In a letter to the public, Commissioner Hester M. Peirce stated the following:

“I respectfully dissent from the Commission’s order disapproving a proposed rule change, as amended, to list and trade shares of the Winklevoss Bitcoin Trust on Bats BZX Exchange, Inc. (“BZX”)…I believe that the proposed rule change satisfies the statutory standard and that we should permit BZX to list and trade this bitcoin-based exchange-traded product (“ETP”).”

Ms. Peirce has been welcomed by the crypto-community with open arms since making these remarks. Her Twitter following continues to grow exponentially since the news broke. She has been given the title of ‘Crypto Mom’ for she embodies the strength of what it means to be a mother for the crypto community.

A second reason why the rejected Winklevoss ETF is a good thing is the fact that BTC has proven once again that it can withstand major FUD on its journey through the current bull run. Right after the announcement and chaos that followed, BTC fell to $7,900. But it has since regained its feet and is trading at $8,215 at the moment of writing this. The stage is set for a $10,000 value pretty soon.

Thirdly, we now know that the CBOE sponsored Bitcoin ETF will most likely be postponed due to the public backlash the SEC is receiving after rejecting the Bats ETF. This means they will be forced to recalibrate their defenses for the CBOE ETF. Also to note is that the Bats ETF has been rejected twice meaning the Winklevoss have the right idea for a Bitcoin ETF but failed to execute as they did with the popular social platform that made them famous. Perhaps the CBOE is the ‘Mark Zuckerberg’ of crypto and they have the magic touch to guarantee an approval no matter how long the SEC postpone a verdict.

In conclusion, the rejected Bats ETF filed by the Winklevoss Twins at first caused panic in the crypto-markets. But upon closer analysis of the events that were followed, we were acquainted with Commissioner Hester M. Peirce who has been given the title of ‘Crypto Mom’ on twitter. We are also now aware of the possible postponement of a decision on the CBOE ETF. With regards to the latter, we are now prepared for the waiting game with 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.

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Bitcoin

Basic Guide on How to Spend Bitcoin and Other Cryptocurrencies

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In recent years, Bitcoin and other cryptocurrencies have entered more into the mainstream. Most people walking down the street have at least heard of Bitcoin. While a lot of people got involved in the buying and selling of cryptocurrencies to try and make a quick buck, most people who are enthusiastic about the world of blockchain are in it for the long haul. 

These are usually the people who are going to be more likely to actually use their Bitcoin and other cryptocurrencies as a payment tool and not just as a storage of wealth or a trading tool. This guide looks at a few different ways in which you can use your Bitcoin in spending capacity. 

Crypto Debit Cards

Perhaps the easiest way for you to spend your cryptocurrency is by linking up your holdings to a debit card. 

These days, many of the leading card providers such as MasterCard and Visa have these types of crypto-linking debit cards. These cards can be used just like you would a normal debit card that is linked to your fiat currency bank account. 

Naturally, the most popular type of crypto debit card is going to be for Bitcoin, but there are other cryptocurrencies catered for also. 

Prepaid Cards

There…

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Hybrid Bitcoin Casinos or Bitcoin-Only Casinos – Which Are Better?

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The rise of cryptocurrencies over recent years has had an impact on several industries. Gambling is one such industry, and many of the best online casinos offer Bitcoin as a payment method

Some of these casinos work exclusively with cryptocurrencies, while some are more traditional gambling sites that simply have integrated crypto on top of their fiat options.

This post will take a look at the advantages of joining a Bitcoin-exclusive casino on the web versus picking a hybrid one.

Advantages of Hybrid Bitcoin Casinos

Let’s start with the hybrid Bitcoin casinos. Usually, those are traditional gambling platforms that have been around for a long period of time. 

They offer classic payment methods such as Visa, PayPal, Skrill, and similar. At some point, they decided to add Bitcoin and potentially other cryptocurrencies to their portfolio. 

If you decide to join an online casino of this type, you will be able to enjoy the following benefits.

Lower Risks

Such online casinos often have a strong reputation and are licensed by respected gambling commissions such as the UK Gambling Commission, the Malta Gaming Authority, and similar regulators.

They are known for protecting the customers and monitoring all actions…

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Is Bex500 an alternative to BitMEX?

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An all around review of Bex500

Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders. 

Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.

Bex500 says they are making crypto margin trading “easier” and giving you a better return. 

Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange

Question 1. What features does Bex500 have?

Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.

-A fair trade with no overload

Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.

Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…

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