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IOTA News: IOTA Withdrawals Now Possible on Bitpanda

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IOTA News
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A new move by Bitpanda will now allow users to make IOTA withdrawals and deposits.

IOTA withdrawals and deposits are now possible on Bitpanda

Bitpanda’s new decision to add IOTA (MIOTA) now allows full withdrawal and deposit functionality. The platform’s decision to include IOTA in its portfolio dates back to June of this year.

However, back then, IOTA was only available within the exchange service’s inner wallet. Now, IOTA news claims that users will be allowed to move their tokens, or withdraw them entirely.

Bitpanda’s recent blog post states that the company is pleased with making this move. Additionally, they used the same blog post to announce their support for IOTA Hub — the project’s latest tech.

IOTA Hub is an exceptional new environment that allows developers to communicate with IOTA protocol in a more efficient way. Bitpanda managed to set it up with the help of IOTA’s own engineering team.

IOTA Foundation’s head engineer, Edward Greve, commented on the partnership by praising the Bitpanda team. He stated that the team is quick and professional and that very little support was needed actually to set up the IOTA Hub. This also means that the Hub itself is easy to understand and use.

While this IOTA news represents a big move for the project, Bitpanda is still only the second exchange to start using IOTA Hub. The first one to integrate it was Upbit, which is already running it.

The part of IOTA community on Reddit was more than curious regarding the implications of the integration. Especially since Bitpanda is still a relatively small exchange, especially when compared to others that are supporting IOTA.

IOTA Hub will make MIOTA easier to use

IOTA is known for being more difficult to use than most other digital assets. It especially poses an issue when it comes to new investors. While some believed that Trinity wallet’s launch might make things easier, this doesn’t seem to be the case. Still, the network’s main goal is to serve the IoT, which is one of the areas where IOTA has had a significant amount of success.

As for Bitpanda, this move seems to be only a beginning for IOTA Hub integration. IOTA expects that many other exchanges will be drawn to their new technology as well, in due time.

If this happens, it will likely drive IOTA volumes up by a significant amount. Using the Hub will likely make dealing with IOTA significantly easier than it was so far, which will also attract additional investors to the coin.

IOTA already has a massive use case, which has helped it grow already. Its growth has also given other exchanges a real incentive for listing the coin on their platforms. Apart from making partnerships with some of the largest carmakers, IOTA also seems to be ready to enter the insurance industry. With each new step, IOTA demands will increase, and some exchanges have already recognized its potential.

Additionally, with each IOTA news that features a new exchange listing, IOTA is getting closer to being considered, and maybe even actually added on the largest exchanges. Coinbase, for example, is the dream for every cryptocurrency out there, and if IOTA gets listed on it, its value would likely go up by several hundred percents.

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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 Lazare/Pixabay

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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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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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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